Platinum (XPT)SetupPlatinum weelky setup (XPT)Setup
Platinum Price XPT/USD rebounds from two-month low to $1,000, Fed, Ukraine in focus
PLATINUM trade ideas
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.
Be Greedy When Others Are Fearful Understanding Trading Risks.
Before investing, learn more about the risks of online trading, including fast-moving markets and the risk of system unavailability. Explore the risks and strategies of margin borrowing
Time Wave analysis of Platinum (XPTUSD)Hello.
Time Wave analysis of Platinum (XPTUSD) as of March 31st.
The platinum peak is the starting line of the yearly correction trend of the downward wave, and a monthly downward wave proceeded below it. Since I recently broke the last monthly correction trend line, the monthly upward wave has ended, and the W-X-Y correction pattern will be created here. Because it is a very large pattern, it can be seen as a temporary uptrend or downtrend. If a support line is formed near the current monthly demand zone, it is highly likely to rise again.
Conversely, if the monthly support starting line of the upswing wave does not build or breaks, the yearly downtrend will continue.
Look for buying opportunities near the monthly demand zone in April.
good luck.
Be Greedy When Others Are Fearful Understanding Trading Risks.
Before investing, learn more about the risks of online trading, including fast-moving markets and the risk of system unavailability. Explore the risks and strategies of margin borrowing
Potential Double bottom?!Interesting formation coming up here on the 4H. . . I rarely trade that time frame but just bumped into it. If it works out looking at R of 3.5 with small risk.
PLATINUM LONG TERM WEEKLY TIMEFRAME
Corrective move down
Currently at wave (B) while wave A was a 3 Wave daily move down. What I expect to be wave C could also be a 3 wave (Y) down.
Either way the weekly timeframe is a corrective move down.
DAILY TIMEFRAME
Trading with the weekly trend down.
5 Wave move down was completed and noted as wave 1
A corrective (3-3-3-3-3) noted as wave 2 is complete
expecting a wave 3 daily down or a 5 wave down.
4 HOUR
Ideal entry zone
Probable time holding of this trade is 1-5 months : Not guaranteed just a projection depending on the timeframes
PLATINUM - READY TO BOUNCEMonthly graph of platinum
- crossed over 14 yr trend rezistance
- higher high
- now fighting for higher low - if 885$ stand
- extreme buy volume around support - 950$-1023$
- long term bullish accumulation possible
- targets 1417$ (38%), 1690$ (65%), 1880$ (83%)
Time will show, but this is excellent setup imo.
Short PLATNIUM (XPTUSD)Overall Average Signal from all our indicators suggests a Short. Entry is at market open and exit is shortly before market close or whenever you are okay with profits.
#PLATINUM #XPT in a Perfect long-term Channel with 2 extremesPlatinum got rejected two weeks ago on the 'war candle' on the 1W time-frame and is on the 3rd straight red week since. The importance of that rejection, is that the candle closed within the metal's long-term (almost 4 year) Channel Up that started half-way through 2018. As you see XPTUSD tends to trade exclusively within this Channel Up structure, unless a 1W candles closes outside (either above or below) the pattern.
In almost 4 years we had two such 'extreme' cases, one was the March 2020 market crash due to the COVID pandemic, which was the bearish extreme that reached as low as (marginally breaking) the -1.0 Fibonacci extension level and the other the Q1 2021 bullish extreme that reached as high as (marginally breaking) the 2.0 Fibonacci extension level. Notice who both distances are symmetrical on the extremes and that in both cases the candles, despite breaking marginally below/ above, they managed to close back inside the Fibonacci extensions.
The only valuable coinPrecious metals... Apes are paying for 5000 years with this coin, dollars as they are to date, 50 years. Very unlikely this physical good will lose value over time
Sell swing tradeThis is a beautiful sell setup
Swing to the end, and always remember use protective stoploss as this is one of the factors that gives a trader statistical edge in the market.
Also a very nice risk to reward ratio
Short tradeThis can be viewed as a continuation flag pattern and also a double top (M) formation market
There are pure divergence from the RSI and also a fall out of the ascending channel
All this are confluence that the market will continue falling
PLATINUM Perfect long-term Channel with 2 extremes to consider.Platinum (XPTUSD) got rejected two weeks ago on the 'war candle' on the 1W time-frame and is on the 3rd straight red week since. The importance of that rejection, is that the candle closed within the metal's long-term (almost 4 year) Channel Up that started half-way through 2018. As you see XPTUSD tends to trade exclusively within this Channel Up structure, unless a 1W candles closes outside (either above or below) the pattern.
In almost 4 years we had two such 'extreme' cases, one was the March 2020 market crash due to the COVID pandemic, which was the bearish extreme that reached as low as (marginally breaking) the -1.0 Fibonacci extension level and the other the Q1 2021 bullish extreme that reached as high as (marginally breaking) the 2.0 Fibonacci extension level. Notice who both distances are symmetrical on the extremes and that in both cases the candles, despite breaking marginally below/ above, they managed to close back inside the Fibonacci extensions.
This pattern provides a low risk frame-work to long-term investors. Buy low and sells high within the Channel and if the pattern breaks and closes a 1W candle outside its top/bottom, trade to the direction of the break-out, either towards the -1.0 Fib or the 2.0 Fib.
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Platinum (OZ) needs to breakout of this descending triangleI need to see a upward break of this top descending trendline to become bullish. We appear to have bottomed with a clear W pattern but we have to break that upper line. If the US government continues to debase the dollar (only tool left) then I would expect commodities to rise.
