Possible 1000 level retestPlatinum ( XPTUSD ) is showing us great buy opportunities for a possible 1000 levels retest.
( and even a possible breakout )
PLATINUM trade ideas
Platinum looks like it's trading in a long term bull flag. I find it hard to believe this pattern is a descending triangle, we've just seen the dark blue baseline of the pattern hold support, considering the Macro environment I'm expecting this pattern to finish with a bullish outcome.
The RSI is slowly starting to create a Macro higher high, if we see the RSI continue to creep above the blue line we will see some strong price action to the upside, potentially parabolically given how other metals like gold, silver & palladium have been trading recently.
The DPO is closing above 0 for the first time since roughly 2012, we have seen the DPO touch 0 multiple times over the years but the DPO has never really closed above it since 2010 until more recently, very interestingly bullish.
It's always possible this pattern plays out bearishly, nobody knows for sure, safe trading.
Platinum's golden crossPlatinum has just offered a golden cross on the daily chart, supported by a long term breakout from the downtrend on the monthly. The price action is similar what silver did before the huge rally. I would bet for a strong long trend in case of continuing economic recovery.
Platinum then Platinum !Platinum will be under the spotlight in the coming months. Starting to outperform after long years of underperformance.
3000++ Pips on XPTUSD 🎒This trade I posted earlier has now gone up to and it’s only a few more pips from hitting my TP!
If you toke this trade then enjoy your profits 👍🏾
XPTUSD📈XPTUSD has made a clear double bottom which retested against the support line meaning a probability of it going all the way up to the resistance above it🚀
Out of PlatinumI went ahead and sold all of my platinum. I don't really see a point.
It moves at the same time as silver. And there is already a gold.
I don't think I really need to worry about 3 metals.
It looks like silver always has more volatility.
I'll just stick to gold and silver.
made about 25%
XPTUSD UPDATE after our initial entry at the QML level , we have bearish engulfing price action on the daily time frame which confirm our sell bias , im expecting more sell to the LOW of the structure which will serve as our TARGET
XPTUSD or Platinum 1D | Short Momentum- QML (quasimodo resistance) structure identified! - Possible bearish price movement towards the next support 930 and 900 within the next period.
***Comment your thoughts down below! Regards, GoldfXcc Team
XPT USD SELL (PLATINUM - US DOLLAR)Hi there. Price is moving impulsively to the downside. Wait for the price to complete the pattern that is forming and watch strong price action for sell.
Platinum --> Metal Slug 🦐Recently all the metal markets drove by the upmove of gold has risen and created new highs.
Platinum created recently on the daily chart a bull flag.
During this week the market broke the flag and broke the resistance structure.
According with our strategy we can look for a nice long order.
–––––
Follow the Shrimp 🦐
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 Plancton0618 strategy will trigger.
Platinum Update: Profit=128513 SL=19901 Reward/Risk > 6.5:1 Trade Setup summary:
Profit targets=128513 pip (4059 + 6584 + 9744 + 15994 + 23224 + 29189 + 39719)
Stop Loss =19901 pip
Reward/Risk > 6.5: 1
Current Status:
Total Profit: 122387 pip
Closed trade(s): 20387 pip Profit
Open trade(s): 51000 pip Profit
Trade Setup:
We opened 7 BUY trade(s) @ 805.00 based on 'previous Forecast' at 2020.07.06 :
Closed Profit:
TP1 @ 837.90 touched at 2020.07.22 with 4059 pip Profit.
TP2 @ 863.15 touched at 2020.07.21 with 6584 pip Profit.
TP3 @ 894.75 touched at 2020.07.06 with 9744 pip Profit.
4059 + 6584 + 9744 = 20387
Open Profit:
Profit for one trade is 907.00(current price) - 805.00(open price) = 10200 pip
4 trade(s) still open, therefore total profit for open trade(s) is 10200 x 4 = 51000 pip
Break-Even 805.00
Technical analysis:
. Platinum is in a range bound and the beginning of uptrend is expected.
. The price is below the 21-Day WEMA which acts as a dynamic resistance.
. The RSI is at 70 .
Trading suggestion:
. There is still a possibility of temporary retracement to suggested support line (863.15) again. if so, traders can set orders based on Price Action and expect to reach short-term targets.
Take Profits:
TP4= @ 957.25
TP5= @ 1029.55
TP6= @ 1089.20
TP7= @ 1194.50
SL= Break below 837.90
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💎 Want us to help you become a better Forex trader?
Now, It's your turn!
Be sure to leave a comment let us know how do you see this opportunity and forecast.
Trade well, ❤️
ForecastCity English Support Team ❤️
Platinum Update: Profit=128513 SL=19901 Reward/Risk > 6.5:1 Trade Setup summary:
Profit targets=128513 pip (4059 + 6584 + 9744 + 15994 + 23224 + 29189 + 39719)
Stop Loss =19901 pip
Reward/Risk > 6.5: 1
Current Status:
Total Profit: 122387 pip
Closed trade(s): 20387 pip Profit
Open trade(s): 51000 pip Profit
Trade Setup:
We opened 7 BUY trade(s) @ 805.00 based on 'previous Forecast' at 2020.07.06 :
Closed Profit:
TP1 @ 837.90 touched at 2020.07.22 with 4059 pip Profit.
TP2 @ 863.15 touched at 2020.07.21 with 6584 pip Profit.
TP3 @ 894.75 touched at 2020.07.06 with 9744 pip Profit.
4059 + 6584 + 9744 = 20387
Open Profit:
Profit for one trade is 907.00(current price) - 805.00(open price) = 10200 pip
4 trade(s) still open, therefore total profit for open trade(s) is 10200 x 4 = 51000 pip
Break-Even 805.00
Technical analysis:
. Platinum is in a range bound and the beginning of uptrend is expected.
. The price is below the 21-Day WEMA which acts as a dynamic resistance.
. The RSI is at 70 .
Trading suggestion:
. There is still a possibility of temporary retracement to suggested support line (863.15) again. if so, traders can set orders based on Price Action and expect to reach short-term targets.
Take Profits:
TP4= @ 957.25
TP5= @ 1029.55
TP6= @ 1089.20
TP7= @ 1194.50
SL= Break below 837.90
❤️ If you find this helpful and want more FREE forecasts in TradingView
. . . . . Please show your support back,
. . . . . . . . Hit the 👍 LIKE button,
. . . . . . . . . . . Drop some feedback below in the comment!
❤️ Your Support is very much 🙏 appreciated!❤️
💎 Want us to help you become a better Forex trader?
Now, It's your turn!
Be sure to leave a comment let us know how do you see this opportunity and forecast.
Trade well, ❤️
ForecastCity English Support Team ❤️
Metals and #Platinum as the odd oneGold: Nice and smooth bullish trend. Very comfortable long position even in larger size.
Silver: Bullish, maybe a bit of short squeeze too. Momentum is increasing.
Copper: Despite all the fears regarding global real economy, copper is also marching up with strong momentum, it doesn't show too long consolidation periods and dips on profit taking are shallow.
As you see, people just want to be bullish on metals. Investors and speculators use any dips to buy more. But what's the situation with Platinum? It is still sleeping, the question is for how long?
Platinum:
- Bullish bias is increasing slowly. While price is still stuck in a wider range of 790-860, the 100 day WMA is slowly turning up, stregthenning support.
- Ichimoku setup has a bullish bias, but averages are still very close to each other. Price has been swinging around Tenkan and Kijun since May.
- The zone to be watched is 852-883. Once price breaks above these levels, the sleepy Platinum will likely follow the same path as Silver.
This is all a technical view. If 1000 bn USD being printed monthly, and besides the other two precious metals even Copper can go so nicely higher, I just don't see a reason why Platinum should stay at these lows.
Usually when the party heats up, even the ugly ones are taken to dance.
Platinum\Gold ratio at 14 year extremePlatinum relative to gold is now exactly FIVE TIMES CHEAPER than it was at the peak of the commodities bubble back in May - June 2008. It is still in a downtrend, and this study has ZERO validity for short-term trading: extremes can ALWAYS get more extreme, OR they can get stuck at the same "insane" level for an unpredictable long time, so I would advice to pick up some long platinum exposure here due to historic undervaluation, but only as a long-term play. I'm going to look to take a small long position without a stop, one I can just buy-and-forget-about for how small it is, and maybe slowly increase over time. I've looked at the chart of platinum for short-term trading signals, but have been unable to find anything compelling to me, so the only strategy I can personally think of is to accumulate very small positions on the dips, until the technical picture gets more clear, and hopefully a new uptrend starts in this VERY cyclical and ILLIQUID metal. If you're able to better read the chart of Platinum and see some strong evidence for going long OR short, please let me know.
Gold, Platinum, or Both?I think the answer is both. The correlation-coefficient suggests that weak readings between the two metals during clear simultaneous uptrends signal continued strength for both metals.
Thus, my strategy is to buy physical bars of each metal, at a one-to-one ratio. The two metals serve different purposes, but they are continuously increasing in value because their supply is finite and the world has deemed them intrinsically valuable. Gold has proven this concept ever since humanity first adopted the concept of wealth accumulation. Platinum is a fledgling comparatively, but I suspect it will prove-out long-term, even if the concept of marriage is trending bearish.
"Experts" seem to collectively agree that platinum is more speculative than gold because it is used primarily in manufacturing (which is a bet on future economic growth), and not investing nor as a universal store of value. Whenever "Experts" have the same idea, I immediately think the opposite is true (think March 2020 "financial guru" bears).
Thus, I have my ratio set to 1:1 because the benefits of gold are obvious and time-tested. I like both metals equally and buying them both when one is clearly undervalued just makes logical sense in my piggish brain.
I also tend to be a paranoid-ish pig at times, which is why I prefer to purchase the stuff in physical form. I clearly see that fiat currency is becoming more a figurehead and less a de-facto store of value - as it can be printed limitlessly. So long as global government(s) maintain control of their people, fiat currencies have value. Should that change, I'm happy that I have physical assets. Whether you buy physical or prefer paper derivatives, I'd maintain the same outlook of 1:1 buying in the near/midterm.
Whether it is platinum, gold, palladium, rhodium, or silver, it is clear that metal is on the rise once again. I just like these two the most.
- Gilded Pig
TVC:GOLD
CURRENCYCOM:GOLD
TVC:PLATINUM
CURRENCYCOM:PLATINUM
