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Platinum USD per ounce Futures

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XPTUSD1! trade ideas

8.3.2024 Platinum Weekend Pre Market AnalysisIt's the weekend. I like to go out to my larger charts and clean off the entire chart and start analyzing the instrument for next weeks trading. We know that price is going to move up or down from where it currently is located, so we just need to make up a game plan to trade it.. Looking out at the 4 hour, 1 hour, and 15 minute charts for our trend and target analysis. Then dialing it down to the 3 minute or 15 minute to look for an entry!
NYMEX:PL1!
by MoneyDuck_Butch
1
PL next trade long of a 30" wave B UPIt is a lot more relaxing to trade a longer timeframe, 30 " to 60" work best with Pivot Trading. This trade is based on riding this wave up to one of these levels, in blue, these fib based numbers show most bearish to most bullish level. I got here looking at a 5" candle which also looked promising: we completed an ABC down on 5" to the elliot level predicted, which happens 80% of the time, and are ready to start the next set of 5 waves up, since we are in a mega Grand Supercycle bull trend for 24 years we presume up.
NYMEX:PLV2024Long
by dryanhawley
I suggested PL would sell off this morninggyazo.com This was the situation then, PL1! had gone up to recent ATH and set a new record for recent months. I looked at the contract 1 month out, PLQ2024 and found them way overbought, and at the top of wave 5, and there were only 3 buys that took PLQ2024 to the same high as the current contract PLN2024. Because of all these factors, reasoned that when the current contract sold off there would be no support all the way down to recent highs. It is working. proof: www.tradingview.com This contract is so thinly traded there are 0 buy contracts all the way down into the 1011.7 area. new information, my EWT SW told me they might shoot up on a 5th wave, so set a very tight stop ( usually I use an ATR stop, but this stop was to protect profits. I took 95% of my profits, went long rode the wave up and re shorted even higher than before. 1033.30. gyazo.com
NYMEX:PLN2024Short
by dryanhawley
2
PL LONGtrade logPL 976.5: I suggested we sell PL, eventually it went down to 955, see my Ideas to verify. There was a complex ABCDE UP wave correction up Monday June 10th we were long all day but sold the close @ R6. We rode it down to 958.6 and went long where you see the first buy. Please feel free to verify my posts. ;p All I have been doing it using my brokers platform ThinkOrSwin to trade on alone with fewer talking. . -- I BUY if price has reached my Keltner and bollinger band channels low. -- I SELL if price has reached my Keltner and bollinger band channels high. I made $1500 today. PL is volatile to the extreme, with huge margin, trade it carefully, it's not the ES! I'm long ATM since the buy signals left behind from my trace calls. If I can I will do a presentation soon.
NYMEX:PLN2024Long
by dryanhawley
Platinum Supply Gap Widens: Johnson Matthey Report AnalysisJohnson Matthey's latest report on the platinum market reveals an impending supply deficit not seen in a decade, despite some expected declines in vehicle production. The shortfall, exceeding 600,000 ounces, is driven by sustained demand across industries like automotive and industrial applications, particularly in China. Key Points: - **Supply Shortfall**: The report predicts a substantial deficit in platinum supply due to maintenance issues in South African smelters and lower scrap stream volumes from end-of-life vehicles. - **Strong Demand**: Surprisingly, the automotive sector saw an 8% increase in platinum demand in 2023, mainly due to the slower-than-expected adoption of electric vehicles (EVs). Industrial applications in China also contributed to sustained demand. - **Price Implications**: Despite the supply-demand imbalance, platinum prices have remained relatively subdued, suggesting market complexities beyond simple supply constraints. Looking Ahead: The report warns of potential disruptions in South Africa, a crucial platinum producer, and uncertainties around EV adoption rates as key risks to watch. Nevertheless, the persistent supply deficit is expected to define the platinum market's near-term trajectory. (insert-link-here)
NYMEX:PL1!Long
by MorMedia