Platinum setting up for new move up on weeklyWeekly Platinum is consolidating setting up for a breakout to the upside. Looking at current support at 886.8xx. If support holds at this area, price should continue up based on rhythm of TRIX and TSI.
Monthly TSI and TRIX are turning up. A breakout of price from current weekly consolidation looks to be to upside.
Daily chart with weekly consolidation overlay and last daily consolidation channel based on ADX
XPTUSD
#TrendFlex Platinum Alert [Free]Bull Signal on Platinum - XPTUSD
MacroView Research forecasts platinum prices to extend gains near-term vis-a-vis weaker U.S. dollar; a view we've had in mid-December.
Alert: $990
Thresholds: 959.47
Opportunity: 1053.29
Trade Mgmt: TP on 50% of position at $1,015; move threshold to breakeven
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New Bull Starting in Platinum?A few interesting points about XPTUSD and why it might be time to look at long positions:
1. 7-Year cycle in XPTUSD is bottoming out right now.
2. We are seeing a backtest of the initial breakout similar to what happened in 2000-2001
3. XPTUSD production is going to see major cutbacks moving forward from South Africa
4. Above ground stocks are winding down which has put extreme pressure on prices for the last 4 years
5. Should the DYX fail to breakout decisively over 102 before the end of 2016, then the ZARUSD could strengthen.
And now palladiumAfter travelling on the overbought region for some time, it seems XPDUSD is now ready to retrace. We just touched the 0,618 angle of the fib speed resistance and already heading south. First target on 0,5 angle around 620's coinciding with last peak, and secondary on the 0,382 on the 600's. Wait for your signal and enjoy the short.
All precious metals are on this same trend. Check my idea on XPTUSD and watch how XAUUSD will follow this week.
Platinum shortlooking for confirmation on a 3rd higher low of 3 in the XPTUSD bull run. Stop out level is higher than the first highest high as well as near R1 stop for monthly level. 1000 area has proven to be strong resistance. I would suggest a averaging in price of 995, ranging maybe from 990 to 1000 area for asks. I think the white triangle should play out to allow the 50 and 200 ema to get very close or maybe cross for a fakeout before at least more ranging if not a larger drop down.
XPTUSD - Short TermChart describes better than words. :)
Short's possibility is much more than longs but have to watch prices carefully.
XPTUSD - Near-term Ichimoku short setupSee comments on chart. Important level is 824, if broken may provide a sustained bearish path. On higher timeframes, Ichimoku is clearly bearish. The forecast PA path with arrows is just given as an indication to emphasize key levels and lines.
Aggressive trade: as described in chart
Conservative trade: wait for break at 824 to enter, reassess according to cloud configuration.
$XPT v $USD - Predictive Model Eyes Lower Targets | #platinumQUICK ANALYSIS:
Prior analysis released this past May 2015 is replaced by this update. Following defines and explains the Predictive/Forecasting Model's targets, as well as the "Geo":
PREDICTIVE/FORECASTING MODEL:
The following targets are defined by the Predictive/Forecasting Model as:
1 - TG-2 = 849.0 - 13 NOV 2015 - This is a quantitative target ("Quant-Target") ... All Quant-Targets are usually associated with retracements (not reversal), as well as the definition of future R/S levels if entering a new price territory, or validation of prior R/S levels if revisiting prior price territories.
The relevance of a Quant-Target is that it is usually associated with a retracement in the Fibonacci order of 0.386 to 0.618;
2 - TG-Lo = 629.8 - 13 NOV 2015 - This is a qualitative target ("Qual-Target") ... All Qual-Targets are usually associated with reversals (not just retracement), defining a probable tip-top or bottom-tip reversal if entering a new price territory.
The relevance of a Qual-Target is that it is usually associated with a reversal in the Fibonacci order of 0.618 to extensions levels of 1.131, 1.272, 1.313, 1.414 or 1.618;
AND
3 - TG-Lox = 487.9 - 13 NOV 2015 - This is a Qual-Target and abides to same condition as above.
GEO:
The Geo is a refinement of the Mr. William "Bill" Wolfe's namesake Wolfe Wave (www.WolfeWave.com), taking into consideration internal construction conditions, as well as compensating for geometric distortions that occur in the Wolfe Wave. While the Wolfe Wave defines the 1-4 Line projection as a target once price reverses from Point-5, this target is sometimes missed by a margin that relates to how much adverse excursion occurred off of Point-5.
Hence, the Geo takes into account these adverse excursions in price, which define an altered, distorted geometry ("Geo"). This distorted geometry now associates Point-5, 5' and 5'' with high-probability targets, into a "Geo Off-Set Rule", numbered as follows:
#1 - IF price reverses from Point-5, THEN 1-4 Line is the HIGH-PROBABILITY target (Wolfe Wave rule as well);
#2 - IF price reverses from Point-5', THEN price level of Point-4 becomes the HIGH-PROBABILITY target;
AND
#3 - IF price reverses from Point-5'', THEN price level of Point-3 becomes the HIGH-PROBABILITY target.
DISCUSSION:
Note that price has already defined Point-5'', whereas it has yet to define TG-2 = 849.0. As stated in the rule Geo's Off-Set Rule #3, Point-5'' definition is associated with a high-probability target at price level of Point-3 - This would ths point to a high-probability of price retracing to 1262.9 - See following chart:
While TG-2 remains pending at this time, if and once this target is hit, it would also be associated with price retracing (not reversing) to one of the three Fibonacci values, namely: 0.386, 0.500 or 0.618.
Interestingly, as per following chart, satisfaction of both 1) Geo's Off-Set Rule #3 as well as 2) Quant-Target would put these two conditions into near-perfect alignment - See following chart:
OVERALL:
Predictive/Forecasting Model, as well as the Geo, call for a price relaxation from circa 849.0 to 1262.9, whereas the Predictive/Forecasting Model alone calls for a moderate probability of price eventually reaching TG-Lo = 629.8, thus defining the following probable price action:
Best,
David Alcindor
Predictive Analysis & Forecasting
Durango, Colorado - USA
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Platinum Target 20 WMAWeekly RSI may have bottomed and this offer a great swing long opportunity with a great RR.
With a risk of 10 -20 points, the reward that we are after is at least 60 points (1:3) ratio. Here are some of the reasons to go long:
- Platinum is oversold after the FOMC statement that had a revision lower on US GDP
- Dollar weakness has not transpired into any buying but that is about to change
- A 20 WMA reconnect could be the play for a corrective rally
- 4 hour RSI bullish divergence thus a corrective rally is overdue