Platinum update - 12/05/2022wave ((2)) is in play, expecting wave ((2)) to be end at 795 (0.618 of wave (1) and wave (Y) = 0.786 of wave (W)), critical support at 565.43.
PLATINUM trade ideas
XPTUSDDue to the fact that the trend line hit the bottom trend line and was rejected, the uptrend to the trend line was determined
Platinum - A better deal than it looks?Looking at the price of platinum, it looks kind of overpriced, like many other things. But when adjusted for M2, it's much lower than most things. Seems like a great deal TA wise.
Longer term chart:
10x the price of 1970 = ~1500. This target seems pretty low not to mention we aren't even there yet! But the short term pattern looks like a bit of a topping pattern. Could take a while to setup.
Just something to keep an eye on.
What do you think?
Good luck and don't forget to hedge your bets :)
PLATINUM - LONGPlatinum is approaching a 1.68 ext and a double bottom.
Time to begin looking for a long.....
Triple bottom tells us go long!Strong buy oppertunity! SL below bottom level required (mentioning short positions of major banks). But inflation will guide the price.
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- Good 1:3 R:R tradeAfter rising above 1k in mid-April, Platinum has started to roll back down and has dropped to 900 zone important support (see daily chart).
After reaching this support the price started to consolidate last week and finally has broken up.
Now the price came to confirm this break and is trading in the last resistance now support zone.
I expect a new leg up above 1k and I will remain bullish as long as the price is above daily support
Platinum on supportPlatinum trading on support at 930. I am looking for a bounce of this level.
Trade ideas are my own and not financial advice
Jamie Gun2Head - Buying the Break of PlatinumTrade Idea: Buying Platinum
Reasoning: Retesting key resistance on intraday chart. Looking for a break higher.
Entry Level: 928
Take Profit Level: 961
Stop Loss: 920
Risk/Reward: 4.13R
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Platinum update - 25/4/2022the bounce higher than 975 will let us expect that the bottom is placed and wave ((iii)) in it's early stage.
Platinum (XPT)SetupPlatinum weelky setup (XPT)Setup
Platinum Price XPT/USD rebounds from two-month low to $1,000, Fed, Ukraine in focus
Platinum is out-performing silversince Sept lows, platinum has taken the helm from silver as the most volatile precious metal, with bigger upsides, and bigger downsides.
Platinum update - 19/04/2022expecting a strong move higher in wave ((iii)), critical support at 941.50
Platinum Long PositionPlatinum being the major component in war manufacturing I have decided to take a position based off my technical analysis as shown.
Commo-trade!Another commodity trade but I like this one because we seem to be on the verge on a kijun bounce on the Monthly. Confluence comes in with the bullish HnS on weekly. To reduce risk again I put in a buy stop to only take me in IF I am right. This could potentially go up to 2000 but I will bow out 1175 zone.
Entry: 982.57 (buy stop)
SL : 940.00 (Just below the monthly kijun)
TP1 : 1080
TP2 : 1174
R : 4.5
Risk management the cornerstone!
KOG - PLATINUM 4HWe have a target on this above, potential movement on the 4H timeframe illustrated.
As always, trade safe.
KOG
XPTUSD ABC BULLISH PATTERN PLATINUM has formed an ABC bullish pattern on its daily chart.
The price is trading above the entry level EL 978.964.
ABCs pattern are only valid when the price closes above the entry level with a progressive with a progressive uptrend.
PLATINUM ABC BULLISH PATTERN
💼EL 978.964
⚠️SL 948.933
🎯TP1 1151.031 61.8% ABC
🎯TP2 1203.759 78.6% ABC
🎯TP3 1271.571 100% SYMMETRY ABC
Platinum update - 03/04/2022still no clue that wave ((ii)) ended, the broke above the parallel corrective channel and the key level 1034 will confirm that the bottom is placed and wave ((iii)) in it's early stage, critical support at 893.38
Consolidation after breakout. Platinum is consolidating after a breakout of a descending triangle that spans two decades. Eyeing a breakout of descending channel.
RSI approaching bullish territory.
Volume is very strong and has been since the retest of triangle pattern .
Will be looking at buying all dips on weakness.
Consolidation after breakout. Platinum is consolidating after a breakout of a descending triangle that spans two decades. Holding the .382 retracement swing low to high. Eyeing a breakout of descending channel.
RSI approaching bullish territory.
Volume is very strong and has been since the retest of triangle pattern.
Will be looking at buying all dips.
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