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.
XPTUSD
XPTUSD, Buy on H4.XPTUSD, Buy on H4.
- Structure: Sideways
- Above support
- Candle: Strong bullish
=> BUY
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
XPTUSD: Medium term buy opportunity.Platinum has been trading within a bullish Megaphone pattern on 1W that is has now completed its bearish leg and is consolidating on the Higher Low zone (RSI = 45.796). We are expecting this consolidating to form the 1D Support for the next bullish leg towards the next Higher High. This is calculated to be around +18/19% from the current levels based on a +8% sequence on Higher Highs. The RSI patterns are also similar. We are going long on the medium term with TP = 937.00.
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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, Platinum H4: SellXPTUSD, Platinum H4: Sell
H4:
- Tendency: Downward
- Below resistance
- Candle: Bearish outside bar
=> Sell
XPTUSD, Platinum H4: SellXPTUSD, Platinum H4: Sell
H4:
- Tendency: Downward
- Below resistance
- Candle: Bearish outside bar
=> Sell
PLATINUM/RAND (XPT/ZAR) 1-HOUR TIMEFRAME SHORTI will be selling the XPT/ZAR if prices breach below the R11 550 price. Currently, prices are moving in a downtrend, g=forming a series of lower highs and lower lows and bear flags. If we see the corrective structure being breached to the downside, we will get our confirmation for a short trade.
XTPUSD - LONGWorth keeping an eye on this.
Might be a classic false-break - but structure wise, we are in a falling wedge, which usually goes up.
Historical support and resistance suggests it will go up - could be 25-50% gains.
PLATINUM Buy SignalPattern: 1D Head and Shoulders.
Signal: Bullish as the price has touched the Support of the neckline. Potential rebound towards the Resistance but tight trade due to the bearish momentum.
Target: 870.00 (top of the neckline and symmetrical 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 Buy signalPlatinum / U.S. Dollar FX_IDC:XPTUSD
Pattern: Channel Up on 1D.
Signal: Bullish as long as 866 holds.
Target: 930.00 (the next Resistance on 1W).
* If 866 breaks be ready to short to 833.00.
PLATINUM Buy signal and plan BPattern: Channel Up on 1D.
Signal: Bullish as long as 866 holds.
Target: 930.00 (the next Resistance on 1W).
* If 866 breaks be ready to short to 833.00.
XPTUSD – Broken Above Multi-Year S/RAfter trading roughly 11 months below the multi-year S/R zone, bulls have now successfully pushed the price of this precious metal back above the key resistance, which is now being tested as support.
Trending Analysis
The current pullback should be of interest to bulls as it can offer potential buying opportunities in anticipation of a possible bullish continuation north.
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.
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Platinum - Sell Opportunity- Price is at a strong weekly resistance
- RSI represents an overbought condition on the daily
- Wait for price action to go short
Trading with the trend.
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.
