PLATINUM, This Formation Possibly Provides Proper Setup!

Hello Traders Investors And Community,

Welcome to this analysis where we are looking at PLATINUM 4-hour timeframe perspective, the recent events, the current formation, and how possible set-ups can resulting out of it.

PLATINUM is trading in this huge possible rising-triangle-formation marked in blue which can reverse the established bullish trend to the downside as it already begins to struggle while it is approaching important resistance levels formed by past price-action. The wave-count you can watch is matching also this triangle which will confirm when the price the last time touches the upper boundary to confirm it bearish , therefore the whole formation will be confirmed with a close below the lower boundary and a possible additional confirmation of it which will show the proper short-side setup to be traded, although the aggressive immediate entry is also possible here the conservative waiting on the right confirmation will be way smarter. Targets will be way down in the structure and when the minimum targets achieved at around 900 there can come more bearish pressure, in this case, it is important to examine further.

In this manner, thank you for watching the analysis, support for more market insight and all the best.
"Trading effectively is about accessing possibilities, not certainties."

Information provided is only educational and should not be used to take action in the market.

Comment:

ANALYSIS UPDATE: PLATINUM completed the ascending triangle wave count to emerge with a massive bearish pullback finally completing the triangle with a breakout below the lower boundary.

Since PLATINUM continued with the bearish breakout confirmation and triangle completion it continued with bearish pressure accelerations to reach the final target zones.