Positive follow-through following our recent flags.
Gold: Massive move lower from 02 June where I flagged the 200-day starting to slope down while suggesting the reward-to-risk not being attractive on the long. From the time of publication to Monday, we saw a $200 price decline. Possibly some big selling during Monday's Asian session.
Silver: I suggested...
Hello everyone, if you like the idea, do not forget to support with a like and follow.
PLATINUM is sitting around strong support in green so we will be looking for buy setups.
Before we buy, we want the buyers to prove that they are taking over again.
You don't want to buy a bearish market right?
on H1: PLATINUM is forming a channel in orange but the...
Hello traders,
New trade is ready for a setup! Potentially pretty big trade.
We saw platinum making a bearish moved continued by a bullish pullback, slow movement.
Now we saw a H&S develop to confirm our bearish intentions on the structure that this pair made.
Lets wait for our indicators to check for the entry.
Kind regards@
PLATINUM on the 4h chart is currently testing a daily support.
The market after the break of the ascending channel is testing a potential neckline.
According to Plancton's strategy if the price will break below we will set a nice short order.
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Follow the Shrimp 🦐
Keep in mind.
🟣 Purple structure -> Monthly structure.
🔴 Red structure -> Weekly structure.
🔵...
At current levels, the reward-to-risk for a buy/long on Platinum is starting to appear compelling.
Time Frame: Medium Term
The bear flag we highlighted in May has fully 'played out', with the commodity now being 21% off its YTD high. At current levels, it is trading at levels of interest, that being:
- The lower boundary of its 200-period linear regression...
Pattern: Bullish Megaphone on 1D.
Signal: Buy as the RSI broke above its Lower Highs trend-line. For a stronger confirmation you may wait for either a break above the 1D MA50 (blue trend-line) or the Lower Highs trend-line of the price since the February 16 High.
Target: Either the 5.0 or 6.0 Fibonacci extension.
** Please support this idea with your likes...
three possibilities:
- sideways into range (purple zone)
- ascending channel rising into grand ascending channel
- break drown and the correction extends below $1050
SILVER after the last bearish impulse retraced at the 0.618 first and then retested the 0.5.
Now the market is approaching daily support and according to Plancton's strategy if the market will break below we will set a nice short order.
–––––
Follow the Shrimp 🦐
Keep in mind.
🟣 Purple structure -> Monthly structure.
🔴 Red structure -> Weekly structure.
🔵 Blue...
Platinum consolidating around the 61.8% retracement of last upswing.
Weekly resistance level now turning into support.
Looking for long entries in July on daily chart
