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Platinum

When the indicators align: Potential long-term trend reversal! Hi all, Heres a video summary... XPT has been giving me the eyes from across the bar all night... However, I am sitting on my hands patiently waiting for absolute confirmation before striking. These sensational charts are suggesting to me we are approaching a potential long term trend reversal! Here are my confluent reasons why... 1. Falling wedge pattern. 2. Bullish divergence on the RSI. 3. Higher lows RSI, lower lows price action. 4. Potential ABCDE count. 5. Price action really stretched away from EMAS. (weak indication) I believe we are going to get something like this However, there are multiple pathways it could take... we have to look on the flip side as well, very possible we break out now and bull off into the sunset Or we reject the top trend line head to the bottom trend line and continue this strong downtrend. Either way, Platinum looks juicy and prosperous and I am leaning towards bullish. Be patient and prepared for anything and let me know your thoughts. Good luck and happy trading :^) ***This information is not a recommendation to buy or sell. It is to be used for educational purposes only.***
OANDA:XPTUSDLong
by TrimmerTrading
PLATINUM (XPT/USD) 4-HOUT TIMEFRAME LONGPlatinum prices are currently moving in an ascending channel on the 4-Hour timeframe, and they arfe currently almost completing a bear flag pattern. We can expect prices to move down and test the support zone at 874.30, and then push higher as they will be upper band of the ascending channel. Possible targets can be the length of the pole of the bear flag pattern. Conservative traders can enter long positions one the price has broke out of the bull flag pattern, to the upside. This will be good on time but bad on price, as one will enter at a higher price. Risk seekers can enter at the support zone (874.30), and this will be good on price but bad on time. Either way, there is always risk in the financial markets. Safe trading, especially seeing that this is a commodity and the trades are costly. RISK DISCLAIMER: This information does not amount to investment advice. There is always risk inherent to trading, so make sure you consult a financial adviser before making any investment decisions. I will not be responsible for any or all of the losses incurred by anyone using this information. Information is provided solely for educational purposes. Do your own analysis and due diligence. Never invest money you are not willing to lose. Before investing any money, make sure your finances are in order and you have enough resources to cater for your daily needs. Trading is a risky business and you may lose part of or all of your capital. Losses may exceed deposits.
TVC:PLATINUMLong
by munyaelliott
Platinum: High trending test. Don't miss the opportunityPlatinum is approaching important crossroads on 1M. Trading on a long term 1M Channel Down (RSI = 50.828, MACD = -31.030, Highs/Lows = 27.2071), the very bullish 1W leg is closing in on the Lower High of the 1M Channel Down on overbought 1D action (RSI = 73.845). Technically we should be expecting a rejection towards the 1M Support Zone. But since this Support Zone has been holding since October - December 2008, and only recently tested (August 2018 - Feb 2019) for the second time in 10 years, it is not unreasonable to expect that at some point a strong break out from the bearish trend will happen. So if 940.50 breaks, we will be going long with TP = 1,000. ** If you like our free content follow our profile (www.tradingview.com) to get more daily ideas. ** Comments and likes are greatly appreciated.
FX_IDC:XPTUSD
by InvestingScope
3
Platinum - Double/triple top Good weekend everyone, Quick look at platinum OANDA:XPTUSD ; WEEKLY: As we can see on weekly chart (right on top) platinum is on a downtrend since 2016 and show no bullish signals so far, again rejected the descending trendline. DAILY: On our daily chart (bottom) we see that ~875 usd level has been a strong resistance level, tested 4times now and was a previous support before (green up arrow). What do we have now? A double/triple top for platinum and a bearish RSI divergence. 4H We see the decreasing volume on the last up-wave and now we are slowly approaching oversold zone and rejected 50 ema as a support , therefore we might see some pullback on the next hours (after market open of course =] ) Strategy: Sell outright with S.L above 880 usd level aiming 820 zone and further 785 usd level or keep an eye on shorter timeframes after a likely pullback to happen and then short when the best opportunity presents itself. This Trading Idea is to be used for educational purposes only. This idea does not represent financial advice and its NOT a signal. You should trade based only on your own technic and knowledge.
OANDA:XPTUSDShort
by MarcelMartins
Palladium, It's Going to Be Fine...AMEX:SPPP gave me a scare this week when the stock plummetted, but it seems it will likely make a full recovery and continue its bull run, at least in the short term. The price of palladium and platinum are based on two things: supply & demand. However, it is more complicated than that. There is also market speculation on supply and demand which is often seen as directly linked to overall market performance. Overall market performance seems to dictate the swings of AMEX:SPPP so much so that the price of palladium has not caught up to the demand. It's almost like a lagging indicator - like the price is stubborn to move despite the demand. The result is that there are periods of recovery despite market movement. This is where we are now. Despite the SP:SPX and NASDAQ:IXIC having trouble today, palladium and platinum have regained their momentum, as investors saw this downswing as a time to buy, knowing the price was not matching supply/demand. Historically, AMEX:SPPP appears to favor the 89 EMA on the 30min candles for support in a downtrend and resistance in an uptrend, with the price frequently bouncing off this line. Similarly, spikes that surpass 80 on the RSI-21 have shattered that line of resistance on the main chart with a slow and angry tumble. This has not happened, and therefore, is new territory where the outlook is still strong. Palladium prices went up 0.85% today, while platinum was down. I suspect there will be a 50% recovery (seems to be typical for these types of dramatic short swings before a consolidation pattern and upswing) from the latest drop by the end of the week, end of tomorrow if we are lucky. That puts it around an $11.75 price target to sell high.
AMEX:SPPPLong
by ValueMyAsk