Platinum is moving to 18-months low
Take a look on daily chart there you can see, that 6 days ago price break down key level $878.77 and D1 close under it. It shows that big players have enough power to move it down.
I think the price will continue to move down to key buy zone $813.59. On a weekly chart, we see that it is 18 Months low. Under that level, many...
Strong candle as of Friday's close. Took long position in anticipation of break higher. Net positioning is lean and elevated shorts should help Platinum in the near-term. A generally weaker USD after the recent rally will also be supportive of this move. The longer term range of 890/900 and 1000 is a reasonable strategy to trade.
Pun intended. All I hear from the post office guy or my friend's aunt or whomever wants to talk about finance is, what's going on with these cryptos. There's decent coin to be made on the precious metals here. Let me quarterback this out.
Initial Margin in PL: $1925
A 25 handle move = $50/handle x 25 = $1250 profit, less commissions.
ROI = 65%
I am initiating a long position in Platinum futures at current prices which are well supported over the last several years. I think a long term bottom may form as the Platinum price is mainly driven by automobile industry and it is doing quite well recenlty. The position is taken with Reward to Risk ratio of 2.50 and can be kept even further!
Platinum, along with gold and silver, have been in a decline for the past month (20 bars) with no reprieve in sight. We will be looking at previous S/R zone of 890-900 for entry points. Bottoming is usually a process and we never look to "pick the bottom". We've learned over the decades that that's a losing game with a negative ROI. We are merely examining which...
Platinum Trading at 940-41 level where Strong support zone 915 if hold above that level a move toward 980-1020 we can see.
Who Trade in this pair can go for long in range of 939-923 sl below 913 TP 980-1020
Platinum has roared through resistance at the edge of its recent distribution (as observed in the distribution on the left axis). Some of the classicists might call it an inverse head and shoulders. Whatever the pattern interpretation, it looks particularly bullish!
Although platinum is considered a safe haven, it also thrives in a productive economy.
This gives it a great chance to do well during 2017, as people will turn to precious metals during times of uncertainty (which there will be a lot of in 2017), and with Trump wanting to spend like crazy on industrials (emissions control amongst other uses), this could propel...