platinum
We expect the metal to drop since trading below the resistance point of 971.80, but currently, we expect a correction in wave ((ii)) targeting 50% levels at prices of 897.58 to end the wave ((ii)) before descending again
A price action above 832 supports a bullish trend direction.
Crossing below this level will negate the bullish stance.
Further trend support above 848.
Consolidation range from 842 to 860.
Crossing above 860 might target 888.
Remains a rsiky trade.
Looks like this is lagging gold / silver and will finish correcting a bit later by the looks - expecting prices to go down to our fibs/react on our blue line as a trend reversal point.
platinum
We expected the metal’s movement to rise over time term because prices are above the second support point 862.79 for the correction before Descending back to lower prices, targeting 752 to end the wave correction in wave ((2)).
Anyone who knows my previous analyzes knows that I like to think about charts in the evening. This precious metal struck me as all the more interesting, and I look at it less often.
When I tried it several times, I actually noticed this interesting pattern. This doesn't have to be so untrue, if the USD is going to be weakened for a long time, why shouldn't we be...
Platinum has reached an important poi. Could be poised to take a fall.
It may take some time, as the USD has been weakened by slightly better inflation news, so we'll see.
The D1 momentum is bullish , currently, so waiting for confirmations for sells is the best course of action.
Look for bearish price action at current levels.
Platinum
We expected the metal's movement over the time term to rise since prices are above the minor 862.79 support point at the bottom of wave 2. we expected to target a price of 972.00 in the time term. But the main support point is at 830.50, which is the bottom of the wave (2).
Thursday, 25 August 2022
13:57 PM (WIB)
I want to analyze the movement of Platinum, regarding it still in the descending box with the lowest price of $731 and the highest price of $952. Now the price moves at the Resistance Lines of this descending box. Actually, the price movement has broken out of this descending box and reached the MA200, and then fall again...
Platinum; We expect a rise in wave (3) over The time term. The Rise depends on the first support point 565.43 The correction may have ended in wave (2) at the second support point 835.50 Therefore, the Rise depends on trading above the support point of 835.50
Trade Idea: Selling Platinum
Reasoning: Bearish outside candle on daily chart, head and shoulders top forming?
Entry Level: 925
Take Profit Level: 887
Stop Loss: 936
Risk/Reward: 3.45:1
Disclaimer – Signal Centre. Please be reminded – you alone are responsible for your trading – both gains and losses. There is a very high degree of risk involved in trading. The...
Platinum has shown inverse head and shoulder pattern and now its in a bullish trend. We can take long position at this stage as the price is still making higher highs and higher lows.
Platinum is about to form a very good daily bullish early pattern. As a result of this, a weekly correction will occur, and if it is extended to an upper time frame, it can go up to a monthly correction. Follow the correction trend line of the daily rising wave. If this first line is broken it will be invalid.
Platinum could be a 4 hour bullish pattern. If so, this would be a very good buy opportunity. And, since the whole wave is a monthly down wave, it is highly likely to fall again after weekly corretion. Depending on the time wave, the weekly correction will take more than 3 weeks, and when the 4 hour wave is broken, the daily correction will occur, and a daily...
