While Gold had been rising, Platinum has been on a decline recently. It did make a multi-year high on 16 Feb but fell back right away. Recently it has been consolidating within a channel and on Thu last week , it broke out impulsively below it. Friday’s price action was choppy (check out H4 chart) and I see it like a pullback to the channel bottom. I anticipate a...
XPTUSD has broken the channel support line indicating a move lower however many key indicators are converging. A small head and shoulders appears at the same area also indicating a downward move. Breaking the neckline alone in this case isn't enough because zooming out this is still an bull market and I don't like to go short in a longer term upward move so...
After the short-lived spike above 1300, Platinum fell to 1100. A rise began from this point and a new attempt to conquers 1300 However, the rise is corrective and we can expect a new leg down soon. From a technical perspective, Platinum is trading at 1200 at this moment and is under the trend line support of this channel. Bears hold the upper hand now and rallies...
I expect this will be the move for platinum, in General. I already posted the 4h chart , and this is the weekly chart, please leave your comment if any.
XPTUSD Symmetrical Triangle Pennant Pattern
1. Monthly - breakout 2. Weekly - Bullish trianlge 3. Daily - ichimoku clout all systems good to go
Set Take Profit At Price Level 1699.916
Watch for an entry near Fibonacci Retracement Level 0.236 (Price 1256.302) and Resistance Level Turn Support at Price 1255.450. Wait for a price action signal in the form of pin bar at Fibonacci Level Area 0.236 and 0.382. You will want to enter a buy order in the area of Exponential Moving Average Period 10 and Exponential Moving Average Period 20 "AND" the...
Pattern: Channel Up on 1D. Signal: Buy as the price has been consolidating near the Channel's Higher Lows trend-line in a manner similar to November 2020. Identical MACD sequences also. Target: 1330 (current Resistance on 1D) medium-term and 1550 (Higher Highs trend-line of the Channel Up) long-term. ** Please support this idea with your likes and comments,...
Look for entries at 1236.300