XPTUSD trade ideas
What's next for Platinum ?Platinum has reached a critical resistance area at 1028.925. Feb 17, Sept 17, Jan 18, 3 times it tried to break up but failed. Will this 4th attempt be successful ?
Well, it is still riding nicely on the bullish trend line and charging up. It could break up the 1028 level and continue its bullish move OR have a minor correction to around 1000 price level before rebounding.
To buy, wait for it to break out and close above 1028.
Trade safely, always have a SL and manage your risk and capital accordingly. GBU
Getting ready to buy platinumIt has fallen 8% from its peak at 1041 on 16 Jan 20.
Two possibilities present to us now :
1. It rebound from this inner bullish trend line
2. It continues to fall further to a support zone between 933 to 953 area before we see a rebound.
Most traders are fleeing to gold as safe haven asset but not platinum so the latter might just follow the "coronavirus tide" that pulls many assets class downwards. So, until we hear more positive news about the containment of this virus, we are likely going to see more bloodshed on the street.
Remember, the capital you deployed here means an opportunity cost of not deploying to others that can give you a potential profit. So, the decision to execute as I often said is easy with a click of the mouse but the work needed to understand which one requires some analysis.
I will be watching this closely and update when I enter.
Platinum Huge Bullish Wave Buy Set Up Wave AnalysisThere is a huge Bullish wave setting up, look for a impulsive move up from the blue box
XPTUSD (PLATINUM US DOLLAR) Platinum, which is used to curb emissions from diesel cars and in jewelry, rose more than 21% in 2019 – the biggest annual gain since 2009.
The long-only exchange-traded funds focused on the precious metal attracted $850 million in 2019. That was the biggest annual inflow on record, according to Bloomberg.
Price is making higher highs and higher lows. Sitting at the .382 fib and the 200 EMA.
Waiting to break through 1000.
Platinum, my other preciousWeekly divergence and successful backtest of wedge. Should hit a target close to 1300 in a few months.
PLATINUM Structure Broken - Sell the metalPlatinum looks ready to short. Price has broken trendline and broken support structure. We got a retest and a low risk short opportunity is available.
Platinum (XPTUSD): $1,040 Target reached. Expecting a pull back.XPTUSD reached our 1,040 Target on our long since October 31st, 2019 as seen on the buy call below:
The 1M Bullish Megaphone since September 2018 is still holding (RSI = 57.612, MACD = 6.190, ADX = 38.381, Highs/Lows = 74.3178) and in fact the 1,040 top was its Higher High as seen on the chart. We are now expecting its technical pull back which based on the previous 3 occasions should be within -11% to -14%. As a result this puts the Target Zone within 925 - 895. Note: see how harmonic the RSI sequences are both on the bullish and bearish legs of the Megaphone alike.
This short term pull back doesn't mean that we have turned bearish on Platinum. Our portfolio still holds long term buy positions and we have illustrated our long term bullish sentiment on the idea below:
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Comentary on trhe momentPD, Au, PL, Ag,
The levitation of PD
A momentary slump in PL
A risk of Au climbing
Never a big move in Ag
XPTUSD ShortXPTUSD formed a wedge pattern. I waited for the breakout , which was to the downside, to place a trade. I confirmed this movement using the two MA's which did cross over, confirming this downward momentum.
Platinum : Long SetupPlatinum, a precious metal, is traded at a discount compared to other metals and has broken the trend line.
Although this analysis includes a low Risk / Reward ratio, I have shared it as a roadmap for lower time periods.
Because the risk / reward ratio can be much more profitable in lower time periods.
For the main source of analysis, don't forget to look at the related ideas, I wish everyone a happy New Year.
Parameters :
Position Size : %1
Risk/Reward Ratio : 1 / 1.75
Stop-Loss : 895.8
Goal : 1117.921
PL/grams Long range pictureWe are at the 2016 2018 trading level.
If we are at the monetary stage of this market, the PL will continue rising, anti correlated to the global slowdown and proportional to the monetary uncertainty.
XPTUSD: Distribution in progress?After the Bull launched an assault at multi year high, stretching all the way to Feb 17, price has been consolidating in a triangle. Those into volume profile analysis would have notice that POC is at the lower end of VA. And value added at the top is getting lesser. With bollinger band at it tightest since the consolidation 7 days ago and price reaching the apex of the triangle, I believe an imminent breakout might occurs soon. There might just be a higher breakout to trap more buyers before price push lower. Will be watching closely on this pair for a potential SHORT.
DISCLAIMER:
Any opinions, analyses discussed in this presentation are just my personal opinion and do not constitute investment advice.
I do not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from use of or reliance on such information.
Platinum is active and climbing Platinum is active and climbing .
the previous High 1048 was a long time cumming. The trend is one of recovery. The volume is healthy although relatively small. That can change. Its a potentially lucrative market
XPT/USD - SELLwe have nice retracement of weekly level and now we have 3-rt point of descending trend line with pin bar
XPT SUPER SWING BUYOn the Weekly timeframe, this pair was on a descending trend, but the past year start making Higher Highs and Higher Lows, forming an ascending channel. the past days broke that descending trend line and the top of the ascending channel, made a retest of that lines and a resistance zone. Right now the price is bouncing on a strong resistance, but i think that got the strenght to broke that resistance, beacuse we got more confirmations to go long. To enter on a super swing trade we will wait to a close of the mentioned resistance zone, and wait for a formation of corrective structure on a lower timeframe to get the full confirmations that the price is going up.
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Platinum - Palladium Ratio at All-Time Lows and BottomingThis commodity ratio cannot go to zero and its the closest to zero it has ever been.
This ratio has likely not hit its bottom just yet but this is a strategic time to be building exposure to platinum and reducing exposure to palladium.
Even with platinum having broken out of major resistance in the first two weeks of 2020, palladium may still have room to go higher which can continue to push the ratio lower in the short & medium-term, but long-term this is an extremely strong accumulation zone.
Look closely at the last time the platinum - palladium ratio was this low. Look at the bottom it formed when palladium topped out in 2000 and platinum bottomed out. Look how effectively the trendlines were respected.
Those watching this sector closely and that have the patience to invest during these quiet times will be handsomely rewarded.
Platinum has just broken a 12 year downtrendA 12 year downtrend in platinum has just been broken. Initial targets are $1300 per oz and we will then take a view once this has been met.
PLATINUM VIEWPOINT (AS REQUESTED)HERE IS MY VIEWPOINT ON ON PLATINUM. PRICE IS CURRENTLY SAT IN A VERY WELL RESPECTED RESISTANCE ZONE ON DAILY/WEEKLY TIME FRAME SO I'D EXPECT SOME SORT OF PULLBACK FROM THIS ZONE TO THE PREVIOUS STRUCTURAL RESISTANCE WHICH WILL NOW BECOME SUPPORT AND THEN CONTINUE TANKING UPWARDS, ALTERNATIVELY IT WILL BREAK THROUGH THE CURRENT ZONE AND GO STRAIGHT UP TO TARGET (COULD GO LONG ON BREAK OF AREA IF THIS HAPPENS AND PUT SL BELOW HIGHLIGHTED ZONE) AS MY VIEWPOINT IS RESOURCES WILL GO UP IN VALUE (I.E. GOLD, OIL ETC.) THIS COULD ALSO BE A VERY LIKELY OPTION. I HAVE MARKED AN IDEAL ENTRY POINT WITH SL AND TP ZONE MARKED ON THE CHART, OPPORTUNITY IS A GREAT RR SETUP FOR BOTH OPTIONS SO HAVE TO KEEP A VERY CLOSE EYE ON THIS IN THE COMING WEEK AS PLATINUM WAITS FOR NOBODY.
