Platinum 1W outlook for 2017$1300 area in 2017 as Fed will not raise rates, and Trump will spend on industrials. (Also bull divergence on RSI)
Platinum will take off as it is both a safe haven and is used industrially.
Platinumfx
PLATINIUM ALWAYS REMEMBER THIS CHART SET UP FOR BIG PROFITXPTUSD HAVE BIG POTANTIAL FOR LONG JUST WE NEED TO FALLOW CHART OR SET UP BUY STOP FOR FUTURE...
EURUSD using my system of tracking ABCD swings (1D, 2H & 30M)Here we can see the current A-B boundary from the Daily TF is Bearish...we can see the C pull-back has been a nice 50%.
I favour and work most technical off the 2H TF and the A-B boundary here is also Bearish...we can see the C pull-back has been a nice 38.2%.
Now here is the ugly bit (LOL) as we can see price is currently stuck in consolidation and the pennant is quite large is size which offers two potential scenarios...the official A-B boundary on this TF is Bullish and with a deep pull-back to the 86% (when price consolidates deep pull-backs are very common)...in anticipation of the smaller TF finally continuing Bearish as per the higher TFs I will need to see price take out the A low of 1.1254, which in turn kicks in the Bearish A-B boundary as highlighted on the chart...Here also we can see the C pull-back also being a deep 86%.
Hope this may help and assist you in your continual learning...
#TradeYourWayForward
Skype: lateralthinking123
Twitter: @jonesesp
#EUR consolidating within a large pennant...Price action is heading right into the Apex of large pennant consolidation...
The arrows show how price was rejected with sellers entering the market close to the Blue 20EMA (Daily) Bearish candlestick formations.
Platinum/USD to 1340 or higherObservations
1. Divergence between price and stochastic as seen on chart
2. Expecting price to rise to the 1.618 Fib extension @ 1358
3. 100EMA will probably come down to meet the 161.8 Fib extension
4. Entry discussed on the H4 time frame (basically on a break of 100EMA on H4)
5. Stop Loss in case of entry is below the lows
Using Fibonacci to assist your trading decisions...EUR/USD I have always studied and monitored price action against Fibo levels and providing the markets trend and do not reverse the myth of Fibonacci works for me...
Here is a daily chart showing the recently completed ABCD pattern...A - B boundary completed and a C shallow pullback correction formed. This offered an extension target at the 1.618% (1.24978)...notice how price reacted to both pullback and extension Fibo levels...
Use only one FIB tool for your retracement and extension levels.I draw the following FIB extension levels via the FIB retracement tool:
1.27% extension use -0.27
1.414% extension use -0.414
1.618% extension use -0.618
No need to use the FIB extension tool, which saves a whole lot of time
Could the BULLS start to take over from here?The EURO is currently sat on several major support levels;
Daily TF
A - B swing C pullback halted today at FIB support 88.6% which concurs with previous structure lows and whole number 1.2700.
Looking for buy signals on smaller TFs to pick off bullish corrective price action
