Platinum (XPTUSD)Experimental probability of price breaking yesterday's low 04/01/21 low is >97%
Entries: Discount sell zone highlighted on Chart
Note: discount zone is invalid if price broke the low
PLATINUM trade ideas
Platinum be cautious here Monthly chart shows a little worrisome sign here. Not like other precious metals. Closely watch what will up fold over the next weeks...
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.
Wave Plot...Short term expecting a pull back then trend to continue higher for a long period, however there is a chance we don't get much more of a pullback and just outright rip higher.
Platinum hits upper resistance band - Retrace possible Platinum has hit the upper resistance band and could see a retrace here. Afterwards, breaking this resistance would enable much higher prices to come.
Inflation Hedge
Adam & Eve double bottom
Diagonal breakout + retest
Precious metals are good hedges against inflation. Plat has lagged behind other metals this ralley.
This is a long term investment with targets of US$2300, $3200, $3600
The fate of platinum in 2021What's it going to be like ? It is now hoovering at the resistance level area for the last 3 weeks. It might consolidate a while more before we see a breakout of the bearish trend line.
I am bullish on it just like my stand in Silver and other commodities I trade.
Unless you know what you are doing, you NEED NOT have all commodities in your portfolio. It is difficult to say how much allocation you should have as different people have different goals, strategies and knowledge. And always, always trade with a STOP LOSS. Nobody can predict the market (those who say they can are seldom traders themselves but earn their money through their "predictions")so just because it has been good the last few months, it may or may not be enjoying such trend in the future. That is why you need STOP LOSS to protect your money.
Platin with new 5 year high!Retest of 1060 today and immediately the run in the other direction. Intraday a new 5 year high. If it spikes through, the way to 1200 is open.
Platinum - Basing PatternMonthly Candles
This charts a beauty. Great long term hold. Next stop $1300.
Thanks
Short term correction for Platinum?
4 hour chart with CMF bearish divergence..watching this closely.
mid to long term very bullish.
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.
Possible rising wedge for Platinumrising wedge forming, price target of 1081 which is the previous swing high. At that PT point there should be people taking profit.
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.
xpt attackAs seen on chart there is a channel and a long resistance line at 1015 usd came from february, before pandemic. It is clinging above 1015, i think, and now it will probably be a resistance line in future. It is at top bollinger band and top point of the channel. We can see a trend line on RSI. So maybe, just maybe, it will drive up above 1070s permanently. Happy new year everyone.
XPTUSD ideaPlatinum idea
For platinum
An interesting picture of platinum is emerging. Globally - the bearish trend line has been broken on the monthly chart. Perhaps a new long-term trend has arisen on this product.
At the moment, a bullish flag has formed and as we know it is a trend continuation pattern.
one possible price action scenario for Platinum
possible price action scenario short term:
rising bearish wedge if played out would bring down the price back to the larger Bull flag channel lower line. Then price to resume upward swing
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.
Platinum future 65 min possible negative StochastiRSIdivergence SWOT
S:
1. seasonality wise Dec and Jan strong.
2. The week after Christmas typically is strong for stocks and even first week of the new year.
3. possible inventory shortage for the metal
4. bullish setup for intermediate time span (Daily, 3 day, etc.)
5. very undervalued based on historical price and especially given the devalued dollar and near 0 (or negative) interest rate.
6. just had a huge 10% correction on last Sunday night and not likely to have another one soon.
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near term negative chart divergence
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.
Moving Average DeviationYou probably remember the bell curve back from school which shows the normal distribution of statistical data.
Set the MA Deviation to percentage.
Draw a line at 2 per cent.
Anytime the indicator goes above 2 we can say we are in a volatile market.
Bear flag within a Bull Flagin the 8 hour and bigger time frame a Bull flag is forming.. However, with the lower time frame such as 4 hour there is a possible bear flag. So watch very closely the price action here, very interesting.
Keep in mind that Seasonality wise the Platinum is very bullish in December and January for the past 5 years.
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.
