XPT Surges as EMAs Align with Bullish Chart PatternH ello!
XPT broke out from a falling wedge (See green trendlines!) formation with strong bull power, as the MACD shows. It wasn't against expectations since falling wedge chart patterns usually break upward. It's often a bullish formation. Thus, MACD and chart patterns align with a bullish outlook. Furthermore, the price is above EMAs (20/50/100/200). EMAs crossed upward on the 24th of September. Seemingly, nothing stands in the path of bulls until the green target circles. However, stay vigilant and don't go all in.
Regards,
Ely
Xptusdlong
Trade Idea: Go Long Up To 1100$Rationale:
COT sentiment
The last COT report shows that Commercials' net short positions have been decreasing, which could indicate a shift in sentiment towards the bullish side.
The COT report can be used as a tool to gauge the market sentiment of traders. When Commercials' net short positions decrease, it could signal a potential shift in sentiment towards the bullish side. This could be due to factors such as improving economic conditions, increased demand for platinum, or geopolitical events that could impact the price of platinum.
Option Sentiment
There has been a significant increase in insider option activity, with a notable number of calls being purchased at 100$ strike price. This bullish sentiment has been further corroborated by the options open interest, which has also increased.
Technical Analysis
From a technical perspective, Platinum breakthroug range.
Seasonal Long in PlatinumHey guys, there is an annual seasonal setup in Platinum which begins during the middle of December and extends until February/Early-March timeframe. The meat of the move seems to occur from end-December until mid/end-January though. While last years movement was fairly muted due to the weak capital markets, I am aiming for a $150/oz upside move this year. TP range is $1100-$1125 area. I scale into small longs vs. taking a single large position as the ranges in Platinum, can be quite large. You can also refer to this link for more info on the seasonal setup as well:
auctusmetals.com
Platinum(XPTUSD)is heading toward 1010$Hello Traders
Our technical view has been shown in the chart.
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Team Fortuna
-RC
(Disclaimer: Published ideas and other Contents on this page are for educational purposes and do not include a financial recommendation. Trading is Risky, so before any action do your research.)
Platinum has formed a strong baseAs I said yesterday, I expect Platinum to rise and reach the 1020-1030 resistance zone, and price evolution in the past 24h adds more confidence in this trade.
Looking at the daily posted chart we can see that the drop started in mid-March has stopped in important daily support at around 900 and last week we have a sequence of Doji candles in this zone. Friday we have a strong bull candle and yesterday we have a Pin Bar that is diverging with Gold evolution (hard drop).
Going further my expectations are strongly bullish and only a drop under support would change my opinion.
Platinum- Good 1:3 R:R tradeAfter rising above 1k in mid-April, Platinum has started to roll back down and has dropped to 900 zone important support (see daily chart).
After reaching this support the price started to consolidate last week and finally has broken up.
Now the price came to confirm this break and is trading in the last resistance now support zone.
I expect a new leg up above 1k and I will remain bullish as long as the price is above daily support
XPTUSD LONG - Buy Entry - H4 ChartXPTUSD LONG - Platinum - Buy Entry - H4 Chart
Symbol: XPTUSD - Platinum
Timeframe: H4
Type: BUY
Entry Price: Buy @ Market
Stop Loss: 921.05
Take Profit: 990.62
🔺 DISCLAIMER
🔺 For educational informational purposes only.
🔺 Analysis may change at any time without notice.
🔺 You must research and create your own trading plan.
XPT/USD 1DAY CHART SETUPHi everyone this is my trade set up for the XPT/USD for the new week ahead
we had a very nice push last week and i feel it still has the legs to to make the push higher
XPT/USD is still pushing up so i am expecting a pullback to the order block zones and will be looking for a BUY trade
look for pullback to zones lined off on chart then if it meets your criteria for a trade then execute
This is my analysis only please trade with caution and risk management in place
good luck for this weeks trading
please like and comment both are welcome
Platinum- 1200 on medium term?November was quite a month for Platinum with the price rising 30%, but most importantly with a significant break above 1000 psychological and technical resistance, a resistance that held since 1017.
At this point, the price is in a normal and necessary correction, and confirmation of 1k as new support would bring bulls into the market and the price can rise to the next important zone at 1200.
Buying at 1010-1020 zone could be a great trade for the medium-term and only a drop under 950 would change this bullish outlook