Not the cleanest setup, to be honest — we've got heavy red candles, elevated volatility, closes near the lows, and overall sentiment is weak. Other commodities aren’t helping either.
Still...
We’ve come down to a solid level where a long looks worth a shot.
The sell-off seems largely driven by Trump’s tariff noise. But the broader play isn't just about raising tariffs — it’s a negotiation tactic. We saw the same with Mexico and Canada. Now other countries are starting to show willingness to talk too.
In my view, most of the downside pressure has likely been priced in — at least for now. I don’t expect another leg down straight away. Even if the market wants lower, it probably needs to base a bit first.
All in, I’m comfortable taking a long here. Let’s see how the open shapes up, but this one’s already in my trade plan.
There's a similar decent setup in palladium, but the stop is way too wide there, so I’m going with platinum.
Still...
We’ve come down to a solid level where a long looks worth a shot.
The sell-off seems largely driven by Trump’s tariff noise. But the broader play isn't just about raising tariffs — it’s a negotiation tactic. We saw the same with Mexico and Canada. Now other countries are starting to show willingness to talk too.
In my view, most of the downside pressure has likely been priced in — at least for now. I don’t expect another leg down straight away. Even if the market wants lower, it probably needs to base a bit first.
All in, I’m comfortable taking a long here. Let’s see how the open shapes up, but this one’s already in my trade plan.
There's a similar decent setup in palladium, but the stop is way too wide there, so I’m going with platinum.
Trade active
I think the best strategy for today and the coming days is to try long. I'm in position on platinum. All the noise about a recession and so on is just that—noise. Essentially, nothing critical has happened, at least not yet. I expect there will be buying.
Trade closed manually
No expected movement.Staying in the position is risky due to high volatility.
Closing the position and will look for other opportunities to make a profit.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.