PLATINUM: Best sell signal of the past 30 days.Platinum is heavily bullish on its 1D technical outlook (RSI = 65.879, MACD = 18.220, ADX = 36.308) as it trades on the bullish wave of the 2 month Channel Up. With the support of the 4H MA50, the price is very close to the top of the pattern. The bullish wave before that, topped upon a +12.17% rise and then pulled back almost to the 0.5 Fibonacci level and the 4H MA200. The current level is already great for a sell entry (if you want you can wait until the RSI gets overbought) and out target (TP = 1,020) is above the 0.5 Fib as the 4H MA200 this time is rising more aggressively than on the previous bullish wave.
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XPT Surges as EMAs Align with Bullish Chart PatternH ello!
XPT broke out from a falling wedge (See green trendlines!) formation with strong bull power, as the MACD shows. It wasn't against expectations since falling wedge chart patterns usually break upward. It's often a bullish formation. Thus, MACD and chart patterns align with a bullish outlook. Furthermore, the price is above EMAs (20/50/100/200). EMAs crossed upward on the 24th of September. Seemingly, nothing stands in the path of bulls until the green target circles. However, stay vigilant and don't go all in.
Regards,
Ely
Time to BUY PLATINUM (XPTUSD)?....YES!Sept 23 - 27th
Is it time to buy Platinum? YESSIR!
Weekly TF clearly shows the formation of a weekly bullish Fair Value Gap (+FVG).
Daily TF shows price is sitting in a daily +FVG, over lapping the W +FVG.
4H TF shows price is sitting in a 4H +FVG, which is nested in the D +FVG.
Not to mention, price has broken structure to the upside, and has pulled back to all of the above.
Did I mention the trend line that is intersecting the 4H and Daily +FVGs for confluence of support?
Oh yeah... the 4H TF shows the retracement of the most recent trading range has pulled back to the fibonacci Golden Ratio of .618.
So yeah, I'm thinking the market is BULLISH, and poised to push higher from the +FVGs.
May profits be upon you.
Enjoy!
May profits be upon you.
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Seasonal Long in PlatinumHey guys, there is an annual seasonal setup in Platinum which begins during the middle of December and extends until February/Early-March timeframe. The meat of the move seems to occur from end-December until mid/end-January though. While last years movement was fairly muted due to the weak capital markets, I am aiming for a $150/oz upside move this year. TP range is $1100-$1125 area. I scale into small longs vs. taking a single large position as the ranges in Platinum, can be quite large. You can also refer to this link for more info on the seasonal setup as well:
auctusmetals.com
Platinum has formed a strong baseAs I said yesterday, I expect Platinum to rise and reach the 1020-1030 resistance zone, and price evolution in the past 24h adds more confidence in this trade.
Looking at the daily posted chart we can see that the drop started in mid-March has stopped in important daily support at around 900 and last week we have a sequence of Doji candles in this zone. Friday we have a strong bull candle and yesterday we have a Pin Bar that is diverging with Gold evolution (hard drop).
Going further my expectations are strongly bullish and only a drop under support would change my opinion.
Platinum to fall around 7%Like all PMs, Platinum is also under pressure and the last correction was very anemic and well caped in 960 zone.
At this moment XptUsd is sitting on support and I expect this to fall.
The next target for this fall could be 850 zone and only the price back above 960 would lift some weight from the selling side.
As in Gold&Siver's case, I'm strongly bearish Platinum also.
Platinum- Target reached, now whatThree weeks ago I said that Platinum is trading in a rising wedge pattern and a break of this pattern can lead to losses and to a break under 1k important figure.
Platinum didn't disappoint me and it reached its target at 930.
With great selling pressure on PMs (Silver&Gold) we can also see this support falling and 850 can be bear's target.
Sell ralliers towards 970 can be a good strategy and only Platinum back above 1k would put a pause in this scenario.
XPT/USD 1DAY CHART SETUPHi everyone this is my trade set up for the XPT/USD for the new week ahead
we had a very nice push last week and i feel it still has the legs to to make the push higher
XPT/USD is still pushing up so i am expecting a pullback to the order block zones and will be looking for a BUY trade
look for pullback to zones lined off on chart then if it meets your criteria for a trade then execute
This is my analysis only please trade with caution and risk management in place
good luck for this weeks trading
please like and comment both are welcome
Platinum could fall to 1000After the short-lived spike above 1300, Platinum fell to 1100. A rise began from this point and a new attempt to conquers 1300
However, the rise is corrective and we can expect a new leg down soon.
From a technical perspective, Platinum is trading at 1200 at this moment and is under the trend line support of this channel.
Bears hold the upper hand now and rallies above 1200 should be sold.
1k important support could be the medium-term target and a daily close above 1300 would negate this scenario
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
Platinum (XPTUSD): Bullish Megaphone towards a new Higher High.Platinum posted a strong rebound on the 871.00 October 2nd low and is currently rising on 1D (RSI = 62.934, MACD = 2.660, Highs/Lows = 16.6714) towards a new Higher High. The Higher High is designated by the 1M Megaphone pattern it has been trading within since August 2018. The 1D RSI patterns suggest that a new bullish leg may start without needing to make a Higher Low. Our Target Zone is 1,020 - 1,040.
Keep in mind that XPTUSD has just initiated its new multiyear Bull Cycle, and we consider it a top investment in the coming years, a matter we analyzed on our long term analysis below:
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