Looking at XPTUSD's 4 hr time frame, price developed a nice flag pattern, and is ready for the breakout to the upside for bullish continuation.
Stop below the flag formation, looking for 1.5/1 R:R ratio as the first target.
Hi! I am basing this Idea only on price action and support/resistance/Fibo.
My opinion is that we may be facing a good opportunity to buy XPTUSD at around 880, which coincides with 38.2 Fibo since Platinum has already broken in weekly candles the last down trending line.
There can be also a more aggressive pullback to the line itself, at around 856, which...
Platinum is approaching important crossroads on 1M. Trading on a long term 1M Channel Down (RSI = 50.828, MACD = -31.030, Highs/Lows = 27.2071), the very bullish 1W leg is closing in on the Lower High of the 1M Channel Down on overbought 1D action (RSI = 73.845). Technically we should be expecting a rejection towards the 1M Support Zone. But since this Support...
Good weekend everyone,
Quick look at platinum OANDA:XPTUSD ;
As we can see on weekly chart (right on top) platinum is on a downtrend since 2016 and show no bullish signals so far, again rejected the descending trendline.
On our daily chart (bottom) we see that ~875 usd level has been a strong resistance level, tested 4times now and was a...