View On Platinum XPT/USD (26 JAN 2020)
We are expecting a massive devaluation in Platinum is coming up.
It may be a lil too early right now but the chance of it going down is higher.
It can $960 region can be a good target/
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After the Bull launched an assault at multi year high, stretching all the way to Feb 17, price has been consolidating in a triangle. Those into volume profile analysis would have notice that POC is at the lower end of VA. And value added at the top is getting lesser. With bollinger band at it tightest since the consolidation 7 days ago and price reaching the apex...
Platinum, a precious metal, is traded at a discount compared to other metals and has broken the trend line.
Although this analysis includes a low Risk / Reward ratio, I have shared it as a roadmap for lower time periods.
Because the risk / reward ratio can be much more profitable in lower time periods.
For the main source of analysis, don't forget to look at the...
Platinum Ascending Triangle Breakout Long Trade
Ascending Triangles are repeatable trading chart patterns.
Ascending chart patterns will have a directional bias depending on the previous incoming trend.
Each chart pattern will have defining trendlines of the support/resistance levels creating the pattern.
What ever time frame you are trading this chart pattern,...
On the Weekly timeframe, this pair was on a descending trend, but the past year start making Higher Highs and Higher Lows, forming an ascending channel. the past days broke that descending trend line and the top of the ascending channel, made a retest of that lines and a resistance zone. Right now the price is bouncing on a strong resistance, but i think that got...
The continued trend upward is something to strongly consider. In the short term take a look at the drop to the mid to upper 960s.
The longer, and much more patient play for those who can stomach it could be the two-year formation of a large 'cup with the handle' that the short term move will confirm.
960s could serve as your stop position with the buys set around...
Platinum, alongside Gold and Silver are one of my top outperforming sectors for 2020. However, Platinum is incredibly undervalued and has ALOT of catching up to do.
I believe Platinum will do what Palladium did and quietly run up at-least 35-40% in 2020 (possibly 50-60%) with very little slowing down until it reaches at-least 1700-1800. In fact, I wouldn't be...
Platinum is active and climbing .
the previous High 1048 was a long time cumming. The trend is one of recovery. The volume is healthy although relatively small. That can change. Its a potentially lucrative market
Platinum has reached a critical resistance area at 1028.925. Feb 17, Sept 17, Jan 18, 3 times it tried to break up but failed. Will this 4th attempt be successful ?
Well, it is still riding nicely on the bullish trend line and charging up. It could break up the 1028 level and continue its bullish move OR have a minor correction to around 1000 price level before...
I think no.
Price is currently consolidating around the $1017 level after breaking the $998 strong resistance.
$1017 is now a stronger resistance. Platinum broke it in June 2016 and tried to recover it at least four times with no success.
My view is a retracement to the EMA 50 level.
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“Never give up, for that is just the place and time that the tide will turn.” ―Harriet Beecher Stowe
Yes, I can hear the traders complaining why is Silver and Gold going higher and higher while this precious metal, Platinum is lagging.
Maybe not, next week , we might see a change in action. The last bullish candle is promising and very likely to continue its...