Platinum prices are currently moving in an ascending channel on the 4-Hour timeframe, and they arfe currently almost completing a bear flag pattern. We can expect prices to move down and test the support zone at 874.30, and then push higher as they will be upper band of the ascending channel. Possible targets can be the length of the pole of the bear flag pattern.
Conservative traders can enter long positions one the price has broke out of the bull flag pattern, to the upside. This will be good on time but bad on price, as one will enter at a higher price. Risk seekers can enter at the support zone (874.30), and this will be good on price but bad on time. Either way, there is always risk in the financial markets. Safe trading, especially seeing that this is a commodity and the trades are costly.
RISK DISCLAIMER:
This information does not amount to investment advice. There is always risk inherent to trading, so make sure you consult a financial adviser before making any investment decisions. I will not be responsible for any or all of the losses incurred by anyone using this information. Information is provided solely for educational purposes. Do your own analysis and due diligence. Never invest money you are not willing to lose. Before investing any money, make sure your finances are in order and you have enough resources to cater for your daily needs. Trading is a risky business and you may lose part of or all of your capital. Losses may exceed deposits.
Conservative traders can enter long positions one the price has broke out of the bull flag pattern, to the upside. This will be good on time but bad on price, as one will enter at a higher price. Risk seekers can enter at the support zone (874.30), and this will be good on price but bad on time. Either way, there is always risk in the financial markets. Safe trading, especially seeing that this is a commodity and the trades are costly.
RISK DISCLAIMER:
This information does not amount to investment advice. There is always risk inherent to trading, so make sure you consult a financial adviser before making any investment decisions. I will not be responsible for any or all of the losses incurred by anyone using this information. Information is provided solely for educational purposes. Do your own analysis and due diligence. Never invest money you are not willing to lose. Before investing any money, make sure your finances are in order and you have enough resources to cater for your daily needs. Trading is a risky business and you may lose part of or all of your capital. Losses may exceed deposits.