horka

horka

We can see a potential dragon pattern emerging on the platinum chart. It has already hit the first target of 0.886 and based on the most recent retrace there is a possibility of an AB=CD continuation . Next targets are 1.13, 1.272 and 1.68 extensions however dragons can easily fly to 2.618 or even higher. Failing @ 920 level (or lower) will invalidate the idea.

horka

a bullish scenario. Failing @ 61.8 (or below) would support the bearish one

horka

TP1 @ "A" level - 2798

horka

If the above count is correct 5 wave impulse move will be followed by an ABC correction targeting 15$ (or lower). RSI and Stoch are both supporting the negative outlook by having a bearish divergence built up on daily chart between tops of wave 3 and 5.