Platinum Trade Set UpHello community. When you study the pattern at point 1, you will notice the bearish structure for the upside. This is the same with point 2. Now we are in a similar pattern at point 3, I expect the pattern to complete itself for more upside. Don't miss the bullish move, so like, comment and follow for more updates. Trade with profits.
Pl1
Platinum - 2nd Target achieved ✔️✔️This was our FIRST VIDEO of the year , maybe watch it now if you haven't already. Trading 101 paid profits and dividends twice.
Now let's go for more - 2 target profits left: here
My friend Kaush says that:
It’s 8% away from its 20 ema
it’s pullbacks have been roughly 13%
in the past max it’s gone is 10% away from its 20 ema before doing a pullback
What does that mean? Well, it is basically a train going 300 miles per hour. Hard to get on it, happy to be on it. The secret is to buy the dips at the right price (that's why we share with you here).
what's next? #platinumlongterm 👈
Platinum Futures it will go up long tradePlatinum Futures will go up long trade but will take a few weeks to a month.
**Disclaimer** the content on this analysis is subject to change at any time without notice, and is provided for the sole purpose of assisting traders to make independent investment decisions.
Platinum (XPTUSD): $1,040 Target reached. Expecting a pull back.XPTUSD reached our 1,040 Target on our long since October 31st, 2019 as seen on the buy call below:
The 1M Bullish Megaphone since September 2018 is still holding (RSI = 57.612, MACD = 6.190, ADX = 38.381, Highs/Lows = 74.3178) and in fact the 1,040 top was its Higher High as seen on the chart. We are now expecting its technical pull back which based on the previous 3 occasions should be within -11% to -14%. As a result this puts the Target Zone within 925 - 895. Note: see how harmonic the RSI sequences are both on the bullish and bearish legs of the Megaphone alike.
This short term pull back doesn't mean that we have turned bearish on Platinum. Our portfolio still holds long term buy positions and we have illustrated our long term bullish sentiment on the idea below:
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Platinum (XPTUSD): Quick Update. Getting closer to our Target.Platinum is approaching our medium term Target Zone of 1,020 - 1,040 as we posted on this idea in late October:
As the moment, the current 1D Channel Up (RSI = 66.576, MACD = 14.780, ADX = 30.519, Highs/Lows = 23.68000) has just broken above the Higher High trend line again in a move that strongly resembles the late July/ early August break out. That Channel Up was supported by the 1D MA50 (blue trend line) and on a similar RSI action as today's broke to the upside aggressively to form a market top near 1,000.
We assume that as long as the 1D MA50 supports the uptrend, XPTUSD will aggressively break into our Target Zone.
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Platinum (XPTUSD): Bullish Megaphone towards a new Higher High.Platinum posted a strong rebound on the 871.00 October 2nd low and is currently rising on 1D (RSI = 62.934, MACD = 2.660, Highs/Lows = 16.6714) towards a new Higher High. The Higher High is designated by the 1M Megaphone pattern it has been trading within since August 2018. The 1D RSI patterns suggest that a new bullish leg may start without needing to make a Higher Low. Our Target Zone is 1,020 - 1,040.
Keep in mind that XPTUSD has just initiated its new multiyear Bull Cycle, and we consider it a top investment in the coming years, a matter we analyzed on our long term analysis below:
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Platinum: Top investment for the coming years.In our search for solid long term investments in the coming years we have decided to share our long term outlook on Platinum.
Technically it recently broke above a 3 year Falling Wedge turning bullish on the monthly chart an effect that has since receded as it pulled back on the 1,000 mark (RSI = 50.285, MACD = -8.660, ADX = 25.926, Highs/Lows = 11.4571).
If the 1W MA50 holds this pull back and another spike prints a Golden Cross, then we may come across a unique multi year buy opportunity on Platinum as most parameters will be similar to the late 90's Golden Cross pattern when the metal entered a hyper strong Bull Cycle. The target will be 2-3 times the initial value.
We wish to add at this point that Platinum has fairly reliable pointers both on the short and long term and thanks to that most of our latest XPTUSD signals have met their target on high quality patterns. You can get an idea of those below:
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Platinum - Consolidation / Price At Support LevelXPTUSD sitting at support level from recent consolidation. Also, back-testing descending trend-line from previous breakout.
Resistance is up near $1960, offering a decent RR setup, depending on where on places their stop.
One final consideration.... We're heading into seasonal strength. While there are many fundamental details to consider, I like the odds posted below and I don't mind being a few days early. ;)
Platinum Futures Continuous Contract Seasonality
Analysis has revealed that with a buy date of October 4 and a sell date of May 23, investors have benefited from a total return of 761.53% over the last 10 years. This scenario has shown positive results in 10 of those periods.
www.equityclock.com
Lonf from $930
Platinum (XPTUSD): Lower Buy Opportunity.XPTUSD has been on a very strong rise in late August almost hitting the 1,020 - 1,045 1M Resistance Zone. Despite trading on bullish 1W technical values (RSI = 64.131, MACD = 26.660, Highs/Lows = 45.6178), the volatility itself is high enough (ATR = 41.0321) to justify a pull back to the 1D Support (890).
This is where we expect Platinum to seek buyers as long as the 1W MA50 (blue line) provides support. Once this pull back is completed we will aim again for the 1,020 - 1,045 Resistance Zone.
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Platinum Pre-Breakout SetupPlatinum broke above descending trend-line. Price is coiling. Possible breakout in the near future (Comex Session). Bias to the upside. Seems to have found support around $930 (tested three times) after price sold off $60 last week. Still up almost 10% on the month, outperforming both silver and gold.
Link showing commodity price comparison.
prntscr.com
I mentioned the initial breakout in a previous idea.