The price has decided to drop, redefining thus the shape of the falling channel shape. Now the price is near the bottom band of the formation, but we can already observe the bounce to the upside. Our next target will be the area in the vicinity of 895 level. After reaching the upper band, the price will bounce it off and decline again, towards the vicinity of 838 ...
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 blue ...
Hello Traders!
It is very recommended by me that everyone looks into buying the F***ing dip on platinum because according to structure, platinum is setting up for a bullish wave of at least a $100 increase in the price of platinum/oz with an explosive breakout leading to the increase. What we are seeing can be described as an ending wedge pattern and it is a ...
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.
This idea is similar to one published one month ago https://www.tradingview.com/chart/XPTUSD/2QSX5Qov-XPTUSD-look-for-any-bullish-move-Risk-reward-radio-10-1/. XPT is dropping to strong support zone in the 875-880 support area. It's perfect to look for buy signal in this area. If you agree and think that the reversal is happening please comment.
This article is ...
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)
The price has crossed the upper band of the wedge. Right now it is in correction movement and is touching 50 moving averages. As long as it stays above 50 retracements, it will aim previous top level at 924.
Good luck!
LimitFX
Strong candle as of Friday's close. Took long position in anticipation of break higher. Net positioning is lean and elevated shorts should help Platinum in the near-term. A generally weaker USD after the recent rally will also be supportive of this move. The longer term range of 890/900 and 1000 is a reasonable strategy to trade.
