Platinum short biasWelcome to everyone.
i just want to share a small thing here about xptusd. There is daily strong supply CP which would actually take some time to break. How it is strong? Because zone 1 (said CP) have been broken the previous strong demand (zone2).
There are some rules in supply and demand which we follow strictly that never allows right now to go long more.
Lets see what gonna happen.
Happy Trading.
XPTUSD1! trade ideas
PL ready to move up?Platinum's pattern is less clear to me because of the double overlapping 1-2s from middle of 2017.
It is retested the long term downward sloping trend and has made a move up significantly as of my writing today. It is testing the downward sloping line it created since the beginning of map.
Looks like it will make an attempt at the 200dma. Overall I'm leaning towards a long like Silver & Gold.
Watching PlatinumWatching closely to see if Platinum continues its move up. into a 3rd wave from its low of $770.
It is hitting the bottom of significant resistance.
Instead of the 3rd wave, the pattern could be an A B C from its low. If it pulls back below 878 it would be a good sign that this could very much be the C-wave being completed and it will target new lows
Platinum Buy & SellI think platinum has now completed leg C and is on its way up to leg D before sellers come in again. It may extend further down a bit more before going up but i think this is a good level to buy before shorting again.
DISCLAIMER
Please note that this chart is an opinion based chart only. Please trade at your own risk
BAT Pattern Forming in Weekly Platinum Target 980-1000.PL
I am learning the Harmonic Pattern these 2 week, and this is my first Harmonic Pattern Post.
Do correct me if i am wrong here.
First i find the opportunity in rectangle Base breakout and Weekly down trend line broken with Target 980.
And also spot the potential Beautiful BAT pattern and coincide with the Target price as seen in the rectangle box target.
I am expecting this Pattern will work out in the reality with very high probability.
Wish All A Happy Trading Day and
Always Trade With High Degree of Discipline and Follow Your own TraderWorkFlow.
Click Agreed with me or Follow me if you like my Post. Thank.
1st Week April - Week of Platinum - LongPL
First Week of April 2019 if it was declared as Week of Platinum believe no body will deny it.
See what Platinum is doing last week as compare to its tiers like Silver and Gold.
Platinum broken its multi year Weekly Down trend Channel and Breakout the multi week consolidation zone and Stand above 900 Mark.
Based on the Box Pattern, my humble view will see platinum hit 50% level @940 and 980 (100%) or maybe 1000 Mark in near future.
Wish All A Happy Trading Day and
Always Trade With High Degree of Discipline and Follow Your own TraderWorkFlow.
Click Agreed with me or Follow me if you like my Post. Thank.
PL NeutralShortern Trade : SHORT
PL reaching the Weekly Down Trend Line Resistance and Daily Topping Pattern. (yet to confirm)
It might have many Hourly Short Trade to Capture quick retracement.
Such as Head is forming in Level 880 but yet to confirmed.
Longer Term Trade : LONG
However High Cautious Need to be watch out for as Daily :
MACD is making fresh new high -- More up side can be expected with MACD divergence in coming days to week
Stoch above 80 dead cross in super strong uptrend, possibly is to find LONG point not Short POINT.
Pl1! Platinum Futures Monthly Currently at a long term inflection point, but I don't think it is that strong where it is... mainly due to the number of touches it has had over the years
However, looking out from here there is one KEY level worth noting, and this is the 640 level
I will be looking for positions long on platinum related assets when platinum gets down to 640, as this is both a major demand level on the monthly chart, but also a major support and resistance level going back 22 years..
This will be a major level of support in my opinion and I will be buying, we are still at 791 right now but if it gets anywhere near 640 I will be scouring for position long opportunities on anything related to Platinum
PLATINUM FUTURES (APR 2019), 1D, NYMEXTrading Signal
Short Position (EP) : 814.5
Stop Loss (SL) : 828.5
Take Profit (TP) : 786.5
Description
PLJ2019 formed Double Repo Failure Sell at 1d time frame. Trade setup with Sell Stop at 0.382 Level (814.5) and place stop after 0.618 level (828.5). Once the position was hit, place take profit before an agreement (786.5)
Money Management
Money in portfolio : $280,000
Risk Management (1%) : $2,800
Position Sizing
$0.1 = +-$5/std-contract
Commission fee = -$2.37/std-contract
EP to SL = $14 = -$700
Contract size to open = 4 standard contracts
EP to TP = $28 = +$1,400
Expected Result
Commission Fee = -$18.96
Loss = -$2,800
Gain = +$5,600
Risk/Reward Ratio = 1.99