As we observe the hourly, we have created a slightly higher high. Like I mentioned on my last analysis, we're in a nice uptrend on the 4h. Zoom in the smaller time frame, it seems to be ranging around the 942 and I would need it for it to crack above for a buy. If it doesn't, we might see a pullback
Platinum (XPTUSD) broke above the 1D MA200 (orange trend-line), and being on 1D RSI Higher Lows, we may be having a strong rally in its early stages. At least this is what the very same Higher Lows RSI pattern has led to when Platinum made the very same 1D MA200 break-out on October 26 2022. The result was a +28.50% instant rally from the bottom and then a finaly...
We approach the previous daily highs @ the 932. 4h shows a continuation uptrend so we might see a test and potential breakout of this daily high.
Platinum has been trading in a range on hourly and 4 hour chart Hourly Chart Bearish Divergence Sell on retracement to 0.382 fib level Stop Loss set above the highs and TP set with 1:1 ratio and previous resistance turned support
Rationale: COT sentiment The last COT report shows that Commercials' net short positions have been decreasing, which could indicate a shift in sentiment towards the bullish side. The COT report can be used as a tool to gauge the market sentiment of traders. When Commercials' net short positions decrease, it could signal a potential shift in sentiment towards...
Rationale: COT sentiment The last COT report shows that Commercials' net short positions have been decreasing, which could indicate a shift in sentiment towards the bullish side. The COT report can be used as a tool to gauge the market sentiment of traders. When Commercials' net short positions decrease, it could signal a potential shift in sentiment towards...
Platinum is sitting at a Support Zone which aligns with the PCZ of a Bullish Cypher with RSI and MACD Bullish Divergence all on the Daily Timeframe and looks to be setting up to begin a retrace towards the resistances marked above.
Hourly Chart Bullish Divergence Double Bottom 98% Long Bias on Myfxbook.com Buy Above the LH for TP1 and TP2 calculated based on risk taken (SL) set below the low 1:1.5 RR Trade
The price of platinum went below 17 January ($880.51), this represent a cycle failure so we expect price to continue maintaining a bearish drop into a weekly low price.The previous 10 weekly cycles had an average of 32 weeks, we are currently at week 12 so it might be a long way to go unless we have a very short weekly cycle of around 20-22 weeks.
Price have alot of liquidity built up and untested at the bottom side. More than likely could reach down there to clear it while making a NEW EXTERNAL LOW just to buy up clearing all INTERNAL range liquidity while on its way BU to form a NEW EXTERNAL high. Which will TAKE TIME.
Goldybug's is watching the activity of his cousin Platibug. He's been a bit down lately but all bad times come to an end as they say. On the 5 year chart, Goldybug notices that there have been 3 instances when platinum has crossed it's lower BB line and then risen rapidly. Knowing when to exit is as important as knowing when to enter. Goldybug exits when the price...
Understanding how the market operates. Keeping up with global news events which impact financial markets'. Monitoring your open positions. You make money if the price moves either up or down's. If the price decreases in value, your position makes a profit.
Two daily rejections at 880 is likely what Platinum needed to commence a bullish trend towards the descending trendline above 990. A price close above 917.441 is what is left for the metal now. N.B! - XPTUSD price might not follow drawn lines . Actual price movement may likely differ from the forecast. - Let emotions and sentiments work for you - ALWAYS Use...
What is Platinum? Platinum is a chemical element with the symbol Pt and atomic number 78. It belongs to the noble metals group, which also includes palladium, rhodium, iridium, osmium, and ruthenium. Platinum is characterized by its high density, malleability, ductility, and resistance to corrosion. These unique properties make it an invaluable material for...
PLATINUM In the long term, it can correct to 720 and then grow well
Looks like the platinum price is going down to the channel bottom. So, I'll be waiting for sell opportunities on corrections.
Platinum is a rare but highly interesting metal, well suited for many use-cases. One use-case might be to open a short position. For about a week, OANDA:XPTUSD has formed higher lows on the 4h chart. On the other hand - momentum fell on Wednesday, then rose again but then took another dip. As a result of rising prices and falling momentum, we have a bearish...