PLATINUM trade ideas
PLATINUM - monthly supportPreconditions:
- key level
- buy after break out
- locally uptrend
- global uptrend
You will learn the best place where we can trade this instrument at low risk.
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P.S. I personally will open entry if the price will show it according to my strategy.
Always make your analysis before a trade
PLATINUM and Commodity DropDXY is rallying very well on its support and will move higher.
This will drive SPY and commodities into the red.
Targeting plat and Silver. Shorting 1205. Max loss is going to be $1245.
I will double down at 1200 and triple at 1190.
DXY is trending upwards.
Target is $1100.
Platinum likely to find buyers near current levelPlatinum has experienced a strong breakout in the first half of February after which it touched a high of $1,337 on 16th February, since then it has experienced a correction and is currently trading near $1,245. Further it is near the 38.2% retracement support of the rally experienced from 28th January to 16th February, suggesting a rebound is likely from current levels. It would be prudent to say that Platinum could rise towards $1,285 and $1,320 while it sustains above $1,200.
Risk Disclaimer:
Trading Forex or any CFD products may not be suitable to all investors and they must evaluate their risk appetite. The above article should not be construed as a trading or investment advice as it is solely for education and information purpose only. Trading might incur a loss of capital and hence investors might be required to gain further knowledge regarding the risks involved. Leverage should be used wisely.
Platinum - if history tells us anythingLook at the recent 3 $100 +/- drops for the metal. What the market tells us is that each time after these kinds of painful swing the market will follow up with sharp positive correction to the upside.
For now the trend is still up with the 200 EMA below the priceline, I would rather be a believer that history should repeat itself.
Disclaimer, this is only for entertainment and education purposes and doesn't serve by any means as a buy or sell recommendation.
Personally I hold both long term long positions and occasionally short term short position, for disclosure purpose.
Go platinum being bullish for MANY YEARS and now it is finally having its day now. Unfortunately I sold some of the shares to participate in the "silver squeeze" for which I regret so much that I don't have as much Platinum as in 2 weeks ago.
Will gradually buy back my PT shares with market dip or not. Seasonality wise PT will outperform in the next couple of month.
Technically it is very bullish with the price broke out of the super long term trendline resistance. Again it is a super depressed metal and it should be worth many multiples from this level IMO.
Disclaimer, this is only for entertainment and education purposes and doesn't serve by any means as a buy or sell recommendation.
Personally I hold both long term long positions and occasionally short term short position, for disclosure purpose.