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PLATINUM may be on the verge of a strong year-end rally!XPTUSD (Platinum) has had a strong rebound last week that started exactly on the Higher Lows trend-line of June 2020. The commodity may be repeating the 2020 pattern that lead to a massive end-of-year rally. However it needs to get past (break and close a 1D candle above it) the 1D MA50 (blue trend-line). As you see since XPTUSD hasn't closed a 1D candle above it since May 18 2021 with the rejections on it being brutal every time. In 2020 once it closed above it, the price soon started a strong rally. Notice how the RSI is on Higher Lows now in similar fashion as in 2020. ** Please support this idea with your likes and comments, it is the best way to keep it relevant and support me. ** -------------------------------------------------------------------------------------------------------- !! Donations via TradingView coins also help me a great deal at posting more free trading content and signals here !! 🎉 👍 Shout-out to TradingShot's 💰 top TradingView Coin donor 💰 this week ==> Vergnes --------------------------------------------------------------------------------------------------------
FX_IDC:XPTUSDLong
by TradingShot
4
XPTUSD bearing signals appearXPTUSD has broken the channel support line indicating a move lower however many key indicators are converging. A small head and shoulders appears at the same area also indicating a downward move. Breaking the neckline alone in this case isn't enough because zooming out this is still an bull market and I don't like to go short in a longer term upward move so I'll need to see more evidence of a reversal. Momentum indicators such as MACD with default settings indicate a move lower (not included as chart is getting busy). However 100 EMA may be acting as support. I'll be looking for a failed test of the right shoulder of the head and shoulders before going short (indicated by blue direction line) or alternatively a break below of the "support level 1" line and the 100 EMA. If the longer term bull market continues then for a long trade I'll be conservative and wait for highs above the head (Resistance Level 2), and hopefully make some pips before (Resistance Level 3). Still learning and new at this so looking for other people's views on how this might materialise.
SAXO:XPTUSDShort
by JBlack99
Platinum- 1200 on medium term?November was quite a month for Platinum with the price rising 30%, but most importantly with a significant break above 1000 psychological and technical resistance, a resistance that held since 1017. At this point, the price is in a normal and necessary correction, and confirmation of 1k as new support would bring bulls into the market and the price can rise to the next important zone at 1200. Buying at 1010-1020 zone could be a great trade for the medium-term and only a drop under 950 would change this bullish outlook
OANDA:XPTUSDLong
by Mihai_Iacob
3