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Platinum (XPTUSD)

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PLATINUM trade ideas

Bullion Basing?Bullion Basing? While the rest of the commodity markets have been grabbing the headlines lately, you would have been forgiven for forgetting about the precious metals markets, however these now need to go back on your radar as we suspect that they are in the throes of basing. While we need more evidence to confirm, we would at least suggest that these deserve more attention. More specifically Platinum, Palladium and Silver. Palladium and Platinum have recently stabilised at their respective 200-week moving averages and platinum a couple of weeks ago even charted a key week reversal. A key week reversal is a trend reversal pattern – in fact these tend to work well so I would upgrade that statement to these are one of the more important reversal patterns to watch out for. In a downtrend, the price hits a new low but then closes ABOVE the previous week’s highs. The reason why I watch specifically the 55 week and 200 week moving averages and in fact watch the 55 and 200 daily and monthly period ones as well, is that as a 35 year veteran I have noticed that markets tend to mean revert to their long term moving averages particularly when markets are volatile. I have seen many times that markets move to and reverse from these moving averages and used in a simplistic way; while above these moving averages the trend is up, while below we can assume a negative tone. Also 55 weeks is virtually one-year and 200-week equates to approximately 4-years and they act as a medium- and long-term barometer of trend. So why not 50 or 52 week – because 55 is a Fibonacci number and I am a big fan of Fibonacci. en.wikipedia.org But when we see Platinum perform a key week reversal AND break above its 55-day ma AND Palladium reverse ahead of its 200-week ma AND silver reverse ahead of a multi-year pivot it is time to pay attention Disclaimer: The information posted on Trading View is for informative purposes and is not intended to constitute advice in any form, including but not limited to investment, accounting, tax, legal or regulatory advice. The information therefore has no regard to the specific investment objectives, financial situation or particular needs of any specific recipient. Opinions expressed are our current opinions as of the date appearing on Trading View only. All illustrations, forecasts or hypothetical data are for illustrative purposes only. The Society of Technical Analysts Ltd does not make representation that the information provided is appropriate for use in all jurisdictions or by all Investors or other potential Investors. Parties are therefore responsible for compliance with applicable local laws and regulations. The Society of Technical Analysts will not be held liable for any loss or damage resulting directly or indirectly from the use of any information on this site.
OANDA:XPTUSD
by The_STA
PLATINUM RETURNED BACK TO THE DOWNTREND CHANNELPlatinum is a rare precious metal used in jewelry, electronics, and scientific equipment. Platinum prices are highly volatile, even more so than gold. As platinum supplies remain low and demand high, platinum prices will likely remain volatile. Platinum price formed a strong bullish rally last Friday due to the stability above the breached resistance at $1000.00 by reaching 38.2% Fibonacci correction level at $1035.00. Yesterday, the price returned back under the resistance level of the downtrend. It would be interesting how the traders will reach from that turning point. If the price break through the strong resistance level around $1030.00 and 200-EMA, the experts suggest that it will activate the bulls on the market and it is possible the price will test the next strong resistance level around $1140.00 or to see higher prices around $1248.00. On the opposite side, if the price continues falling, it will bring back the bears on the market, and the price may test the support level around $945.00 or lower around $908.00 again or far away on South around $838.00 Risk Disclosure: Trading Foreign Exchange (Forex) and Contracts of Difference (CFD's) carry a high-risk level. By registering and signing up, any client affirms their understanding of their own personal accountability for all transactions performed within their account and recognizes the risks associated with trading on such markets and such sites. Furthermore, one understands that the company carries zero influence over transactions, needs, and trading signals. Therefore, it cannot be held liable nor guarantee any profits or losses.
OANDA:XPTUSD
by legacyFXofficial
Bullish breakout or still downward trend?After last week's poor labor market report, some of the commodities benefited. Including platinum with over five percent. Now platinum has found the upper side of the depreciation channel. As an industrial metal, platinum often goes hand in hand with the automotive industry and others that are currently suffering from the semiconductor problem. Nonetheless, platinum as a commodity can benefit from rising inflation. What are your thoughts ?
TVC:PLATINUM
by Heinisch_2108
Platinum Momentum strategy that solves 80% of your problemsMarket phases - Price Action The market can only go in three directions: 1. up, 2.down, 3. sideways. With high / low defined, we can use several charts to identify these market phases and start a simple search for our Swing Highs and Swing Lows. In short: • the market rises when price makes higher highs and higher lows. • the market goes down when the price makes lower highs and lower lows, • The market goes sideways when price does not make higher highs and higher lows or lower highs and lower lows. It may sound childishly simple, almost like stating something obvious, but you will be amazed how often people forget these simple facts. One the most important question is: "Where is the market going?" A trend shift to a downtrend occurs when we see the following sequence: The change of direction is confirmed when price drops below the last lows (as seen in the chart above). Otherwise speaking, this is a 1-2-3 reversal - you go short (sell) after correction at the level of average price or after correction on the level of the blue line
FX_IDC:XPTUSDLong
by UnknownUnicorn2548728
PLATINUM may be on the verge of a strong year-end rally!XPTUSD (Platinum) has had a strong rebound last week that started exactly on the Higher Lows trend-line of June 2020. The commodity may be repeating the 2020 pattern that lead to a massive end-of-year rally. However it needs to get past (break and close a 1D candle above it) the 1D MA50 (blue trend-line). As you see since XPTUSD hasn't closed a 1D candle above it since May 18 2021 with the rejections on it being brutal every time. In 2020 once it closed above it, the price soon started a strong rally. Notice how the RSI is on Higher Lows now in similar fashion as in 2020. ** Please support this idea with your likes and comments, it is the best way to keep it relevant and support me. ** -------------------------------------------------------------------------------------------------------- !! Donations via TradingView coins also help me a great deal at posting more free trading content and signals here !! 🎉 👍 Shout-out to TradingShot's 💰 top TradingView Coin donor 💰 this week ==> Vergnes --------------------------------------------------------------------------------------------------------
FX_IDC:XPTUSDLong
by TradingShot
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