PLATINUM XPTUSD SHORT TRADE SETUPAll information provided in this video. Please do keep in mind that this is just a weekly correction.
The overall bias on the monthly and weekly is to the upside
Thank you and trade safe
XPTUSD trade ideas
#Platinum taking on a resistance line looking V V bullishPlatinum looking pretty solid folks! Nice run now trying to negotiate an important subchannel resistance line.\
See how the lines tell teh story? You see? Magic!
Platinum (XPTUSD)I believe that we are currently retracing the previous high. The current low area seems like a higher low on the weekly. That Mac D looks like its attempting to lose momentum and should eventually cross to the upside! I want either 38% or 61% of previous high. I won't hold forever. Just as long as I can to squeeze some juice from this nice valuable metal. Platinum is a well respected metal used throughout several industries. Platinum is used extensively for jewellery. Its main use, however, is in catalytic converters for cars, trucks and buses. This accounts for about 50% of demand each year. Platinum is very effective at converting emissions from the vehicle’s engine into less harmful waste products. Platinum is used in the chemicals industry as a catalyst for the production of nitric acid, silicone and benzene. It is also used as a catalyst to improve the efficiency of fuel cells. The electronics industry uses platinum for computer hard disks and thermocouples. Platinum is also used to make optical fibres and LCDs, turbine blades, spark plugs, pacemakers and dental fillings. Platinum compounds are important chemotherapy drugs used to treat cancers.
source: rsc.org
Platinum target 1400 to 1650 (long-term)Platinum has bounced from support and retested the dotted line after a break out. This shows that the descending line is now support. Should go up from here, we'll see.
Not investment advice.
PLATINUM - XPTUSD MAKING A BULLISH COMEBACKPlatinum - xptusd looking bullish on the monthly chart making new highs and leaving behind demand footprints. Im expecting further upside on this metal and will be looking to take longs on dips as the main trend for this metal is bullish imo.
Platinum Platinum has recently broken through 14-year resistance. It is a strong bullish signal. Now platinum is going to test this support level.
Best regards, EXCAVO
Bullion Basing?Bullion Basing?
While the rest of the commodity markets have been grabbing the headlines lately, you would have been forgiven for forgetting about the precious metals markets, however these now need to go back on your radar as we suspect that they are in the throes of basing. While we need more evidence to confirm, we would at least suggest that these deserve more attention.
More specifically Platinum, Palladium and Silver. Palladium and Platinum have recently stabilised at their respective 200-week moving averages and platinum a couple of weeks ago even charted a key week reversal. A key week reversal is a trend reversal pattern – in fact these tend to work well so I would upgrade that statement to these are one of the more important reversal patterns to watch out for. In a downtrend, the price hits a new low but then closes ABOVE the previous week’s highs.
The reason why I watch specifically the 55 week and 200 week moving averages and in fact watch the 55 and 200 daily and monthly period ones as well, is that as a 35 year veteran I have noticed that markets tend to mean revert to their long term moving averages particularly when markets are volatile. I have seen many times that markets move to and reverse from these moving averages and used in a simplistic way; while above these moving averages the trend is up, while below we can assume a negative tone.
Also 55 weeks is virtually one-year and 200-week equates to approximately 4-years and they act as a medium- and long-term barometer of trend. So why not 50 or 52 week – because 55 is a Fibonacci number and I am a big fan of Fibonacci.
en.wikipedia.org
But when we see Platinum perform a key week reversal AND break above its 55-day ma AND Palladium reverse ahead of its 200-week ma AND silver reverse ahead of a multi-year pivot it is time to pay attention
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PLATINUM RETURNED BACK TO THE DOWNTREND CHANNELPlatinum is a rare precious metal used in jewelry, electronics, and scientific equipment. Platinum prices are highly volatile, even more so than gold. As platinum supplies remain low and demand high, platinum prices will likely remain volatile.
Platinum price formed a strong bullish rally last Friday due to the stability above the breached resistance at $1000.00 by reaching 38.2% Fibonacci correction level at $1035.00. Yesterday, the price returned back under the resistance level of the downtrend. It would be interesting how the traders will reach from that turning point.
If the price break through the strong resistance level around $1030.00 and 200-EMA, the experts suggest that it will activate the bulls on the market and it is possible the price will test the next strong resistance level around $1140.00 or to see higher prices around $1248.00.
On the opposite side, if the price continues falling, it will bring back the bears on the market, and the price may test the support level around $945.00 or lower around $908.00 again or far away on South around $838.00
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Bullish breakout or still downward trend?After last week's poor labor market report, some of the commodities benefited. Including platinum with over five percent.
Now platinum has found the upper side of the depreciation channel.
As an industrial metal, platinum often goes hand in hand with the automotive industry and others that are currently suffering from the semiconductor problem.
Nonetheless, platinum as a commodity can benefit from rising inflation.
What are your thoughts ?
Platinum breaking out of bearish trend, get your bullets readyAlmost half a year later, we have waited for this commodity to shine again. Indeed, it does not disappoint as it has break out of its bearish trend line. The resistance level at 1031 is crucial as it has been tested several times.
I would consider buying if it breaks out of this resistance level
PLATINUM outlookPlatinum has broken above 50EMA and the descending Channel.
We now need to observe if this was a fake breakout. If the price remains above 50EMA and finds support above 1000, platinum is likely to go higher. We will need to observe Gold and Silver as Platinum does correlate
with both.
Platinum Momentum strategy that solves 80% of your problemsMarket phases - Price Action
The market can only go in three directions:
1. up,
2.down,
3. sideways.
With high / low defined, we can use several charts to identify these market phases and start a simple search for our Swing Highs and Swing
Lows.
In short:
• the market rises when price makes higher highs and higher lows.
• the market goes down when the price makes lower highs and lower lows,
• The market goes sideways when price does not make higher highs and higher lows or lower highs and lower lows.
It may sound childishly simple, almost like stating something obvious, but
you will be amazed how often people forget these simple facts. One
the most important question is: "Where is the market going?"
A trend shift to a downtrend occurs when we see the following
sequence:
The change of direction is confirmed when price drops below the last lows
(as seen in the chart above). Otherwise
speaking, this is a 1-2-3 reversal - you go short (sell) after
correction at the level of average price or after correction on the level of the blue line
PLATINUMFriday, 8 October 2021
20:10 PM (WIB)
Platinum just broke up the resistance and keep fly away high with very confidence of volumes into near the strongest resistance at 1.618 F. Which means, the price breaks out from daily descending resistance at $1.000.
Best regards,
RyodaBrainless
"Live to Ride and Ride to Live"
Platinum's 8 hour chartWhere gold goes... silver goes... and platinum goes!
Breakout on 8 hour chart.
PLATINUM builded bullish setupThe market formed bullish setup. But still I recommend to wait for clear breakout.
GOOD LUCK!
Bullish Bat on PlatinumPlatinum has a bullish bat pattern with triple bullish divergence on the daily rsi and macd. The 3 main targets are 1109, 1273, and 1340.
2021-10-03 XPTUSD - longNice price action around support. Price looks to be forming a head and shoulders. I like the spike down and quick rebound.
waiting for a breakout to go long platinum is still not looking good..
the trend is moving down as long we dont have a breakout...
Platinum Turning Bullish for the first time since 2008Platinum Turning Bullish for the first time since 2008.
