XPT USD SELL (PLATINUM - US DOLLAR)Hi there. Price is forming a continuation pattern to the downside. Watch strong price action at the current price for sell.
XPT
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.
Platinum Long playXPT still has lot of resistance to clear. First thing to clear is the 200ema. We broke out of the short term triangle, We are at lows from 2009 which act as support. RSI is showing some bullish hl and hh. An option is to long on the retest of the short term triangle. This trade would be a half year-year hold.
XPT USD SELL (PLATINUM - US DOLLAR)Hi there. Price is forming a continuation pattern to the downside. Wait for the price to hit the top of the pattern and watch strong price action for sell.
PLATINUM - US DOLLAR SELLHi there. Price is moving impulsively to the downside. Wait for the price to complete the continuation pattern that its forming and watch strong price action for sell.
PLATINUM SELL (PLATINUM - US DOLLAR)Hi there. Price is moving impulsively to the downside. Wait for the price to complete the continuation pattern that its forming and watch strong price action for sell.
Platinum Looks BADYou might be wondering where that channel came from. Well I looked at 40 years of historical platinum prices and that's the channel that is formed. So not only is XPT sitting on the support it has established for 15 years making a bear flag, it it is breaking it's supply/demand channel that it took 40 years to establish.
Breaking this long term support and even longer term channel would be incredibly bearish for Platinum, especially as gold gears up for what looks like an epic run.
Below 750 is the abyss.
Fundamental Speculation: I don't do fundamentals usually but this might make sense. Catalytic converts are a major use for platinum and electrification basically kills this use case, even with us being far from full adoption
Platinum continuation after consolidation?Not financial advice. I’m not a financial advisor. I’m learning to trade. Learn to trade!
Looking like confirmation of a breakdown from bear pennant. Target @ the 755 region
Possibility of a pullback to pattern apex with moving averages above as resistance
XPTUSD: Sell opportunity on recurring patterns.Platinum is on a strong 1D pull back (RSI = 40.890, MACD = -6.510, Highs/Lows = -5.9250) that is currently consolidating (1H neutral) before the next bearish leg. A similar pattern was identified both on the RSI behavior and on the High - Low measurements. We expect the selling to complete a -11.00% decline and our short TP is 815.00.
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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.
Platinum: Strong 1W Resistance. Sell opportunity.XPTUSD is approaching the strong 1W Resistance Zone (873.80 - 878.10). In the past 15 months this level has provided a pivot point 4 times. When tested as a Resistance it rejects the price downwards. In addition to that 1D has heavily entered into overbought territory (RSI = 77.235, STOCH = 80.786, STOCHRSI = 100.00, Williams = -3.226, Ultimate Oscillator = 76.165) issuing a sell signal. We are taking this short TP = 831.60.
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XPTUSD (Platinum): Short opportunity on the 1D Resistance.Platinum has entered the 831 - 840 1D Resistance Zone (RSI = 63.418, MACD = 4.360, Highs/Lows = 20.0393) and following the impressive rise since last week 1D stochastics have turned overbought (STOCHRSI = 99.355, Williams = -7.945). This is a good opportunity to sell. Risk seekers may target the 775 - 785 Support Zone but we will settle for the median. TP = 808.00.
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XPTUSD: Approaching the Buy Zone.Platinum is close to completing the current bearish leg started this month with 4H touching oversold levels (RSI = 25.857, STOCH = 28.684, STOCHRSI = 26.493). On 1D terms (RSI = 37.592, MACD = -0.910, Highs/Lows = 15.9250, BBP = -19.6820) the price is approaching the 775.55 - 785.20 medium term Buy Zone, presenting an optimal long opportunity. The target can be any value within or close to the 823.75 - 832.50 Sell Zone.
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XPT USD BUY (PLATINUM – US DOLLAR)Hi there. Price is forming a continuation pattern to the upside. Wait for the price to hit the bottom of the pattern and watch strong price action for buy.
Platinum: Symmetrical pattern recognition for a lower buy.Platinum is on its way to complete a Head and Shoulders pattern on positive gradient, a pattern that was previously identified from late September - November. The similarities are strong and leads us to expect that a similar candle sequence will be followed. This suggest that the price should rebound close to 786.85 and seek a upper neckline of the RS between the 0.500 and 0.618 Fibonacci levels at 811.60. We will use this as the TP.
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PLATINUM BUY (PLATINUM – US DOLLAR)Hi there. Price is forming a continuation pattern to the upside. Wait for the price to hit the bottom of the pattern and watch strong price action for buy.
XPT (PLATINUM) MONTHLYFalling wedge + bullish divergence on monthly chart. As soon as it breaks the descending trendline, a long position could be considered in my humble opinion.
PLATINUM BUYHi there. Price is in an uptrend. Wait for the price to form a continuation pattern and watch strong price action for buy. Platinum as gold and silver is inversely correlated to dollar, so more the dollar fall, platinum rise.
Don’t take a trade if you don’t see clearly when big guys are in.
