Platinum/U.S Dollar (xptusd)
analysis + trade breakdown :
starting my analysis on the monthly chart (yearly overview) price has been trading in downward range, trading firmly between 2 parallel trendlines which are acting as dynamic support & resistance.
monthly supply level now acting as demand @ 831.300 is in control having pushed price up by ≈10.20% to current price.
inside the bearish channel, price broke out of small structure bearish trendline... forming a full OHLC candlestick above the trendline also indicating shift in current market momentum from bearish to bullish.
i have long position of 1:4 risk, reward from liquidity pool ranging from 911.500 to 905.200 with target targets at supply level of proximal price @ 1072.850 where there is also a liquidity pool ranging from @ 1060.150 - 1072.850.
objects used -
black horizontal trendline - Price Of Interest
blue rectangle - liquidity pool
peach horizontal line - supply/demand proximal price.
supply and demand
put together by : Pako Phutietsile
presented by : @currencynerd
courtesy of : @TradingView
The Nobel Prize in economics belongs to Satoshi Nakamoto, not Ben Bernanke.
analysis + trade breakdown :
starting my analysis on the monthly chart (yearly overview) price has been trading in downward range, trading firmly between 2 parallel trendlines which are acting as dynamic support & resistance.
monthly supply level now acting as demand @ 831.300 is in control having pushed price up by ≈10.20% to current price.
inside the bearish channel, price broke out of small structure bearish trendline... forming a full OHLC candlestick above the trendline also indicating shift in current market momentum from bearish to bullish.
i have long position of 1:4 risk, reward from liquidity pool ranging from 911.500 to 905.200 with target targets at supply level of proximal price @ 1072.850 where there is also a liquidity pool ranging from @ 1060.150 - 1072.850.
objects used -
black horizontal trendline - Price Of Interest
blue rectangle - liquidity pool
peach horizontal line - supply/demand proximal price.
supply and demand
put together by : Pako Phutietsile
presented by : @currencynerd
courtesy of : @TradingView
The Nobel Prize in economics belongs to Satoshi Nakamoto, not Ben Bernanke.
Trade closed: target reached
