PLATINUM trade ideas
XPTUSD Entry Price Between Fibonacci 0.236 and 0.382Watch for an entry near Fibonacci Retracement Level 0.236 (Price 1256.302) and Resistance Level Turn Support at Price 1255.450.
Wait for a price action signal in the form of pin bar at Fibonacci Level Area 0.236 and 0.382. You will want to enter a buy order in the area of Exponential Moving Average Period 10 and Exponential Moving Average Period 20 "AND" the area of Fibonacci Retracement Level 0.236 and 0.382.
So, for confluence, use the following factors:
Look for a Pin Bar in a pull back at
* Fibonacci Retracement Horizontal Level (0.236 0.500)
* Support Resistance Horizontal Key Level (1255.450)
* Support Resistance Diagonal Level (Trend Line)
* Dynamic Support Resistance (EMA 10 EMA 20)
Lines, probabilities and outcomeHaha, I have some people who PMed me and said my chart is way too simple and either way , I am right, arguing my analysis is weak and lack substance and all. It is OK if you do not accept my analysis, have your own ideas about how to chart or even put nasty comments about how lousy it is.
We are all entitled to our own opinions. And like I said, trading can be a lonely game and to have a platform like TV and others for traders to share their thoughts or even vent their anger is a good thing.
Trend lines in my chart are really straightforward. I used mainly support, resistance as a GUIDE and not a MUST HAPPEN kind of rule. So, in this Platinum chart, the price can fall to 1114.95 then rebound. But, it may not and continue to slide towards 1059.74.
Those who followed me knew that I had a LONG Call on many commodities from Lumber to Soy to Cotton months ago and we did made good profits out of it. Now, we are facing some consolidation which is part and parcel of the price action.
Now, the outcome is anyone guess but by relying on historical patterns based on longer term views like monthly and weekly view including other macroeconomic factors and my own analysis, I deduce that commodities will continue to have a bull run this year. On that rough outcome, I narrow down which commodities I want to go long, spreading my eggs across hard commodities like precious metals, gold, silver, platinum, copper, etc and soft commodities like cotton, wheat, corn, etc.
For those who prefer not to choose a single commodity and go for the commodity ETF , just do a search on Google.
I have also said in some of my posts on commodities that trading this can be volatile and the spikes in price action may not be comfortable for some people. So, ensure you place a small % of your capital into commodities trading if you are not too confident.
As always, be it me or any other authors, we are here NOT to sell you the idea of buying commodities (actually we are in a way, like influencing) so, you really need to take it with a pinch of salt and be hardworking and do your own due diligence. Remember, when you make profit, nobody asked you for a dime and so if you lose money, stay cool too. No need to swear vulgarities and hurl sarcastic remarks about how bad the chart is and all.
We all have the free will to follow or not follow a certain author so if you think my trend lines are over simplified and cant make money out of it, it is ok with me, just unfollow me and follow others that you like. Simple as that.
I remain excited about this PM and others (look out for my trade posts soon) as we are now moving into Q2 of 2021. The bulls are far from over and there are plenty of opportunities to accumulate for those who have yet to get in.
PLATINUM moving higher 🦐PLATINUM on the 4h chart is moving between an ascending trendline and a daily resistance.
The market is now approaching to the structure and according to Plancton's strategy if the price will break above we will set a nice long order.
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Follow the Shrimp 🦐
Keep in mind.
🟣 Purple structure -> Monthly structure.
🔴 Red structure -> Weekly structure.
🔵 Blue structure -> Daily structure.
🟡 Yellow structure -> 4h structure.
⚫️ Black structure -> <4h structure.
Here is the Plancton0618 technical analysis , please comment below if you have any question.
The ENTRY in the market will be taken only if the condition of the Plancton0618 strategy will trigger.
#PLATINUM TARGETS FOR THIS DECADE. DEFINTELY GOES HIGHER.AGAIN #DOLLAR WEAKNESS TO BE EXPECTED
WAVE OF DOLLARS ARE PUSHING UP #COMMODITIES.
PLATINUM (XPTUSD) starting a long-term rallyPattern: Channel Up on 1D.
Signal: Buy as the price has been consolidating near the Channel's Higher Lows trend-line in a manner similar to November 2020. Identical MACD sequences also.
Target: 1330 (current Resistance on 1D) medium-term and 1550 (Higher Highs trend-line of the Channel Up) long-term.
** Please support this idea with your likes and comments, it is the best way to keep it relevant and support me. **
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Platinum Short • Platinum falling inside wave 2
• Likely to reach support level 1115.0
Platinum continues to fall inside the minor correction 2, which started earlier from the resistance level 1237.00 (former support from the middle of February, top of the previous impulse wave (1)).
The resistance level 1237.00 was further strengthened by the upper daily Bollinger Band and by the 50% Fibonacci correction of the downward impulse from February.
Platinum is likely to fall further toward the next support level 1115.0 (low of the previous corrective wave (2) from last month and the target for the completion of wave 2).
Continuation Flag or Channel? Which pattern do you think is going to dominate?
Leave a like and comment below 😉
Platinum Forecast
The price was bearish flowing easily down below the (MA) and made a low and then broke above the (MA). After that, things started to get strange, it rejected the 1220 area.
Now, candles do not seem to have enough volume to continue the bearish trend.
If price breaks above the McGinley, then it will meet resistance at 1204.37.
The price target is 1234.27, our bias 1254.10
.
Khiwe
At this profile page, the shared analysis, ideas and also, the strategy of a chart belong to Khiwe with some being influenced. The technical set-ups are speculative, they are not guaranteed for accuracy or in completeness in the form of any content; -it is not to advice on financial markets. Please apply your own analysis and confirm it with price action.
platinum on a bullrunPlatinum is rising from ashes and started a new bull run
after many years heading lower.
found support @ $818 where all the selling has been exhausted.
i expect it to retest previous highs. In the meantime it should
carry gold and other precious metals higher with it.
Platinum $ spot: targeting $1278?Improving confluence of technical trend indicators.
Remains a risky trade.
PMs - PLATINUM - Fractal ApplicationIntroduction to Fractals:
Although prices may appear to be random, they actually create repeating patterns and trends. One of the most basic repeating patterns is a fractal. Fractals refer to a recurring pattern that occurs amid larger more chaotic price movements.
- Taken from Investopedia
Fundamentals Notes:
- Initially, inverse correlation with stock market, but Platinum reaps the benefits of industrial use in clean energy strategies, we foresee a decline in the stock markets until EOY, and recovering early 2021. PMs' technicals seem to support this sentiment.
- Interestingly, there was a consolidation and accumulation period from 2015-2019, and the automatic rally from the last sell-off in March 2020 was used as a spring to achieve new local highs, but this type of pattern typically results in a decline, once distribution has ended.
- However, we are in a greater trend, and while it seems that we have entered a higher channel, volatile sell-offs can be seen as bearish , and we believe the decline will continue once the short squeezing wash-out is over and retail excess diminishes, and support will be tested before further decision.
I posted a forecast previously, but I liked the Fractal Application, so I decided to make it its own idea. Link:
My Wyckoff Method Application post, which this strategy builds on:
GLHF,
DPT
Disclaimer:
We absolutely do not provide financial advice in any shape or form. We do not recommend investing based on our opinions and strongly cautions that securities trading and investment involves high risk and that you can lose a lot of money. Loss of principal is possible. We do not recommend risking money you cannot afford to lose. We do not guarantee future performance nor accuracy in historical analyses. We are not registered investment advisors. Our ideas, opinions and statements are not a substitute for professional investment advice. We provide ideas containing impersonal market observations and our opinions. Our speculations may be used in preparation to form your own ideas.
PMs - PLATINUM - Model ForecastModel Forecast for Platinum:
- Line of Least Resistance determined for PLATINUM.
- Initially, inverse correlation with stock market, but Platinum reaps the benefits of industrial use in clean energy strategies, we foresee a decline in the stock markets until EOY, and recovering early 2021. PMs' technicals seem to support this sentiment.
- Interestingly, there was a consolidation and accumulation period from 2015-2019, and the automatic rally from the last sell-off in March 2020 was used as a spring to achieve new local highs, but this type of pattern typically results in a decline, once distribution has ended. See the fractal from 2008 below.
- However, we are in a greater trend, and while it seems that we have entered a higher channel, volatile sell-offs can be seen as bearish, and we believe the decline will continue once the short squeezing wash-out is over and retail excess diminishes, and support will be tested before further decision.
GLHF,
DPT
Disclaimer:
We absolutely do not provide financial advice in any shape or form. We do not recommend investing based on our opinions and strongly cautions that securities trading and investment involves high risk and that you can lose a lot of money. Loss of principal is possible. We do not recommend risking money you cannot afford to lose. We do not guarantee future performance nor accuracy in historical analyses. We are not registered investment advisors. Our ideas, opinions and statements are not a substitute for professional investment advice. We provide ideas containing impersonal market observations and our opinions. Our speculations may be used in preparation to form your own ideas.
PLATINUM testing the 1220 area 🦐PLATINUM on the 4h chart is testing the 1220 resistance.
The price is moving over an ascending trendline and recently broke above the descending trendlone.
According to Plancton's strategy if the market will break above we will set a nice long order.
–––––
Follow the Shrimp 🦐
Keep in mind.
🟣 Purple structure -> Monthly structure.
🔴 Red structure -> Weekly structure.
🔵 Blue structure -> Daily structure.
🟡 Yellow structure -> 4h structure.
⚫️ Black structure -> <4h structure.
Here is the Plancton0618 technical analysis , please comment below if you have any question.
The ENTRY in the market will be taken only if the condition of the Plancton0618 strategy will trigger.
