Platinum hit the 2016 Support and bounced, currently it is forming a well known trading pattern to go long.
This 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)
Platinum 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.
BUY when price hits the PRZ with: TP#1 = 38.2% retrace of CD TP#2 = 61.8% retrace of CD
Entry - 900.00 SL - 910.00 TP - 883.00 R:R - 1.7R Risk - 1.45% Weekly:
As 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).
Platinum 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...
Hello 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...
XPT Short - TVC:DXY strength warrants OANDA:XPTUSD bearish view - Trend is negative - Diminished price-volume support below 884 - Looking to short on confirmed support break(blue line on intraday chart - Alternative thesis on TVC:DXY weakness, might see a jump off support and retrace to 906. Will look to long at that level.
Price is at 127.2 Fibonacci extention level. MACD bullish divergence
Hello, traders. I'm expecting very nice up move in platinum. You can see my higher degree expectation in the followed chart, but it is almost impossible to explain by drawing because there are a lot of options. So, if you want to see detailed analysis, please watch today's analysis video on Youtube. The last down move has 5 waves already and the 5th wave looks...
Will be definitely keeping an eye on this one. Never trade with money you can't afford to lose.
What's up guys, here's a setup I've been looking at for a while. I'm not a position trader- I don't like to hold trades for any longer than a couple of weeks max. That aside, I have saw this pattern coming for almost 2 months since the B level was broken (one could have BAMM'd it!) Here we have a bullish bat formation on platinum. The support level where the...
Analysis: I've seen XPTUSD show a Impulsive move, and then correctively retrace towards the origin of the impulse. it has a little further to go hit the reversal zone indicated at the dashed orange lines. Hypothesis: I am looking for latent buy orders to kick in at the levels identified. Price should trade up to resistance where I have indicated by the...
Palladium long. The exchange rate reached the bottom of the correction. This level is 900 usd. The figure shows that XPDUSD corrects in a double wave structure. Then this is followed by a steep rise. The structure of the dual waves of the last weeks is distant. Especially due to the decreasing ATR speed. Therefore, the further increase may be half as much as the...
The price of Platinum was upward. The price of XPTUSD rose from the correction level of 905 usd. The rising wave (BC) is similar to the size of the previous (OA) waveform. If the assumption is correct, the current target price for the move is 1044 usd.
The idea is that platinum would move between the two-blue line (these are recent daily support and resistance lines). It looks like Platinum founds its bottom and is ready to move up, to the price level of 1020 (which might be a recent resistance line of the weekly) , even do the RSI has not yet curved up it is clearly oversold on the daily. But last Friday...