XPTUSD
Inverted Adam and Eve Reversal Pattern - BullishXPTUSD broke out of the Adam and Eve pattern.
Cheers!
Commodities expected to rally up at triangle crashCommodities quoted as XXXUSD are expected to rally up at triangle crash of JPY, USD & CAD. Mainly because the prices are quoted in USD which is going to devalue hence any rate XXXUSD will go up.
Targets hit. New bearish pattern in development. Short.Both TP 878.128 and 852.737 in extension have been hit as the previous Channel Down on 1D even crossed our estimated 793.519 bottom. This break-out maintains our sentiment on a bearish path for Platinum as a new Channel Down is being developed on 1D (RSI = 41.648, MACD = -12.930, Highs/Lows = -6.5407, B/BP = -19.9240) seeking 740.000 as its next Lower Low. Only if 846.20 gets crossed, can we consider the probability of a trend reversal, as it will break the Lower High on the 1W Channel Down. Unless that happens, we will stay short on XPTUSD with new TP = 756.538 and 740.857 in extension.
XPTUSD Can it hold long term support?XPTUSD Can it hold long term support?
A big move on the way
These are my own ideas for education purposes,
Love to hear your thoughts?
ALWAYS TRADE SAFE
xptusdplatinum has finally made its way down to the reversal zone where it has had several fake breakouts, expect it to rise to around 980 within the following weeks if there is no high impact news. -P
This is very clear! Just wait for weekly Golden CrossThis is very clear! Just wait for weekly Golden Cross
Possible bottoming pattern on PlatinumI am long from 815 based on the 4hr chart.
Some evidence for a potential bottom:
There is a major bottoming developing in the spread between platinum and palladium. Platinum is on the verge of rebounding aggressively against it. This trade is very low risk from here.
Obviously we would need the dollar to turn lower if platinum's rise is actually sustainable. For this reason, my trading time frame will remain small (4hr - daily), however, the weekly chart is showing a strong close once today is finished as long as price stays in this range.
Platinum is moving to a key level where we can open LongPlatinum is moving to a key level where we can open Long
2 weeks ago the price made fake broke at key level $810 and D1 close upper it. That showed to us that big players have an interest in buying.
Currency rate is making pull beak down.
I recommend opening Long near: $810
S/L under low $796
T/ P1: $1010
S/L: $1147
It is deal for long-term traders. If everything will work on my scenario, it can take 1–2 months before the price will hit T/P.
BULLIAH SHARK XPTUSDLONG OPPORTUNITY ON XPTUSD
Bullish Shark (Highlighted Yellow Moving Forward)
Two entries given on the chart.
Goodluck
Platinum Long Based on PatternPlatinum hit the 2016 Support and bounced, currently it is forming a well known trading pattern to go long.
BEARISH PLATINUM - RICH MAN'S GOLD SETS UP FOR THE POOR MANThis is in a strong bearish monthly trend, and appears to be targeting around $800, with support on the downside to $740. Although market is Bearish now, Platinum is going to get a lot of demand boost in the coming decades! The supply/demand dynamics are overblown. Expect $1200 + in around 4 - 5 years (2022 - 2023)
Bullish reversal is emergingPlatinum is currently attempting to break the descending channel into which it evolves sinces months. The break is not strong enough at the moment but buyers are pushing more and more. A new bull channel can be initiated very soon creating a new bullish trend on XPT.
LONG Setup - Possible Bullish Cypher PatternBUY when price hits the PRZ with:
TP#1 = 38.2% retrace of CD
TP#2 = 61.8% retrace of CD
Textbook Lower Highs/LowsAs seen on 1D, Platinum is on a clear Channel Down (Highs/Lows = -1.8536, BBP = -6.7500) and has just been rejected on a new Lower High near 915. 878.128 is a strong support and that is our TP with 852.737 in extension (for extension SL will be moved to profit zone).
Standard Channel Down and new Lower HighPlatinum is trading on a long term 1W Channel Down (Highs/Lows = -12.1143, B/BP = -36.7780, MACD = -13.210) that started off in late January and has just priced the latest Lower High near 915. With 4H neutral (RSI = 50.443, Williams = -46.789) around the blue line, we expect the decline to a new Lower Low to start soon. The TP is at least the previous Lower Low at 877.90 but more risk averse traders can book the profit earlier ay 893.40.
XPTUSD Long Trade SetupHello traders
Platinum has a great potential for upside but in the meantime, there is still chance for more down move. If the structure between the yellow lines is a contracting flat the structure between green lines should be the correction after reversal impulse and it should go up. If the structure between orange lines is a running flat, it will keep going down. But even in this scenario, I'm expecting some correction. That's why I have placed an entry order. My plan is to take the trade move stop-loss to break even and see the potential. If it breaks the previous bottom, I will move the entry price and stop-loss accordingly.
