we have 3-rt point of new descending trend line
Platinum, which is used to curb emissions from diesel cars and in jewelry, rose more than 21% in 2019 – the biggest annual gain since 2009. The long-only exchange-traded funds focused on the precious metal attracted $850 million in 2019. That was the biggest annual inflow on record, according to Bloomberg. Price is making higher highs and higher lows. Sitting...
Weekly divergence and successful backtest of wedge. Should hit a target close to 1300 in a few months.
XPTUSD reached our 1,040 Target on our long since October 31st, 2019 as seen on the buy call below: The 1M Bullish Megaphone since September 2018 is still holding (RSI = 57.612, MACD = 6.190, ADX = 38.381, Highs/Lows = 74.3178) and in fact the 1,040 top was its Higher High as seen on the chart. We are now expecting its technical pull back which based on the...
XPTUSD formed a wedge pattern. I waited for the breakout , which was to the downside, to place a trade. I confirmed this movement using the two MA's which did cross over, confirming this downward momentum.
we have nice retracement of weekly level and now we have 3-rt point of descending trend line with pin bar
On the Weekly timeframe, this pair was on a descending trend, but the past year start making Higher Highs and Higher Lows, forming an ascending channel. the past days broke that descending trend line and the top of the ascending channel, made a retest of that lines and a resistance zone. Right now the price is bouncing on a strong resistance, but i think that got...
HERE IS MY VIEWPOINT ON ON PLATINUM. PRICE IS CURRENTLY SAT IN A VERY WELL RESPECTED RESISTANCE ZONE ON DAILY/WEEKLY TIME FRAME SO I'D EXPECT SOME SORT OF PULLBACK FROM THIS ZONE TO THE PREVIOUS STRUCTURAL RESISTANCE WHICH WILL NOW BECOME SUPPORT AND THEN CONTINUE TANKING UPWARDS, ALTERNATIVELY IT WILL BREAK THROUGH THE CURRENT ZONE AND GO STRAIGHT UP TO TARGET...
Does the descending triangle complete with the traditional breakdown? Or does it bounce higher?
I think no. Price is currently consolidating around the $1017 level after breaking the $998 strong resistance. $1017 is now a stronger resistance. Platinum broke it in June 2016 and tried to recover it at least four times with no success. My view is a retracement to the EMA 50 level. If you like this idea, don't forget to hit the Like Button! Disclosure: My...
we have 61.8 Fibo retracement with Morning Star candlestik Formation
Platinum is approaching our medium term Target Zone of 1,020 - 1,040 as we posted on this idea in late October: As the moment, the current 1D Channel Up (RSI = 66.576, MACD = 14.780, ADX = 30.519, Highs/Lows = 23.68000) has just broken above the Higher High trend line again in a move that strongly resembles the late July/ early August break out. That Channel...
Platinum Ascending Triangle Breakout Long Trade Ascending Triangles are repeatable trading chart patterns. Ascending chart patterns will have a directional bias depending on the previous incoming trend. Each chart pattern will have defining trendlines of the support/resistance levels creating the pattern. What ever time frame you are trading this chart pattern,...
move SL to entry point and close half of position
Based on the price action, this could be one of the best years for platinum since 2007. A break of the confirmed downtrend line and close above it and 200SMA. For extra confirmation, waiting for the close above the $1000 level. This could be a great long term trade for 2020, targeting $1700 at 61.8% fib level. Commodities are very bullish at the moment due to...
wehave nice move to the previus top, now we expect to see down move
Palladium After a big up move get to a very very strong resistance Price end AB=CD then make another CD leg, now gonna fall This trade has a very high success rate to Take profit 1