According to the FED hawkish stance, this will be a risky trade right now.
If we don t see a strong comeback from the 0.239 fib level which acts as a support, i expect it to go below and touch again the 800 price.
We already broke down the long term support as i said it s risky.
It s just an idea and i will take action based only on my analysis, do your own...
Platinum hit the triple support: weekly S2 pivot points, green lower band of up trend and horizontal band from long-term price action. Platinum is so cheap compared to historical prices and gold. It seems that NASDAQ:NDX vacuums some money from commodities and crypto, but stock market is close to a correction which may bring some money back to commodities. I...
Trade setup: XPTUSD 4H - SWING TRADE LON
- 72,65% of Institutions are holding LONG positions in Platinum
- Daily timeframe in uptrend (made new higher)
- 4H downtrend broken by strong demand zone
- 15 minute timeframe has inverse head & shoulders as confirmation
Platinum has started the month with a local low shy under 1k psychological figure, a reversal followed which also led to a break above the descending trend line started in May.
At this moment the price is exactly in the horizontal 1040 resistance and a break above this zone would also confirm an inverted H&S pattern.
Buy trades considering this setup would have a...
Today's focus: Platinum
Pattern – Support hold, trend break
Possible targets – 1070
Support – 993
Resistance – 1035, 1070
Today’s update is on Platinum. We have run over our thoughts and levels we are watching. Yesterday’s solid rally has held support and has started to test support after breaking the current downtrend. Will we see buyers clear resistance and...
Platinum continues to be confined within a persistent bearish channel, characterized by a pattern of lower highs and lower lows in its price movement. This ongoing trend suggests a prevailing bearish sentiment in the market. As the price of platinum remains locked within this channel, there is a possibility of a new bearish impulse emerging.
Given the current...
Intraday Trade - XPTUSD
In the Weekly Chart, price is coming from the Supply, and there is room to the opposing zone.
In the Daily Chart, wait for price to clear the D1 demand zone that is in the middle of the chart, before looking for selling opportunities in the lower timeframes i.e. H4. Intraday trades can be found in the H1 chart as well.
In the H4...
Once upon a time, in the bustling streets of 17th-century Amsterdam, an extraordinary concept was born that would transform the world of finance forever: the stock market. It was a time of exploration, trade, and economic growth, and the Dutch Republic stood at the forefront of this new era.
In the early 1600s, the Dutch East India Company (Vereenigde...
Platinum (XPTUSD) is trading on a Triangle pattern which is within a larger Channel Up. Last time we had this sequence on patterns was last November-December. Once the price hit the 1D MA50 (blue trend-line), it rebounded to the 1.5 Fibonacci extension. The current 1.5 Fib is at 1180 but we set a Target slightly lower at 1170. Notice how even the 1D MACD sequences...
It's possible that it's approaching a significant top, around $1200 level, in an E Wave. This would be inside a B Wave triangle. It could take it down to around the $400 level.
Hello friends, have a good time
Platinum = Dollar
Initiation ($816.50) of an impulse pattern followed by a large zigzag pattern that corrected 61.8% to 78.6% of the first wave has now reached its all-time high of $1133.26!
Of course, it seems that one more wave is left to complete the impulse pattern and then any correction pattern will be formed, the bullish...
Potential Bearish Entry
Dow Theory In Place - Lower High and Lower Low Expected in Place
Formation of DOUBLE Top coupled with bearish divergence (Bearish reversal pattern)
SL & TP Levels are defined.
Since the Platinum Bobble burst back in 2008, the price was unable to recover, regardless of the all-time high on other PMs.
However, looking at the weekly posted chart we can see that the low after the burst held extremely strong, and after January's higher low, XptUsd also has broken above the falling trend line.
At this moment the road to 1350 resistance is...
Platinum currently is nearly the cheapest it has been relative to Gold in the last 23 years.
Just a quick look at the spread...
Gold may drop more relative to platinum, resulting in a regression to the mean. So Platinum doesn't have to go up for this to change.
Platinum may have demand in hydrogen fuel cells, so potentially a good future investment idea.
It is a...
XPTUSD - has been ascending solidly with minor exceptions in a bullish channel since the beginning of February 23. Due to some uncertainties around the mining crisis in SA, one of the largest producers of the precious metal the price tag by BofA is set around $1400-$1500 by year-end, which makes a 40%-50% anticipated surge in the next 7-9 months.
Risk...
