Platinum / Palladium Ratio Breakout from Falling WedgeWeekly chart Platinum / Palladium ratio.
Clear sign of a breakout / retest from the falling wedge after testing all time lows from 2001.
Supports continuation of platinum bullish breakout.
Will post long term chart in the comments to show potential upside.
Price of platinum broke above two key resistance points today.
Extremely undervalued from a historical standpoint.
PT1! trade ideas
$PLATINUM moving towards next level of 1000$This is a very long term chart of the Platinum price spanning 2 decades. Interesting how the base has now firmed off the horizontal support level of $750-$800. Looks like we should move to $1000 next which is where price will meet the downtrend resistance which has been in place since the tops in 2008. Should $1000 break (which will be big), we can then expect a move to the next level around $1200 which also coincides with a previous top of 2016 as well as the 200 month moving average.
PLV2019 SHORT TERM BULLISHIf PLV2019 can tests upper S&R Zone and close above 859.0 expect a bullish momentum to TP at 870. Strong showing can continue. But this may be just a short term window as stochastics are peaking at the overbought level. Go long and take opportunity. Exit upon any sign of weakness.
Platinum short biasWelcome to everyone.
i just want to share a small thing here about xptusd. There is daily strong supply CP which would actually take some time to break. How it is strong? Because zone 1 (said CP) have been broken the previous strong demand (zone2).
There are some rules in supply and demand which we follow strictly that never allows right now to go long more.
Lets see what gonna happen.
Happy Trading.
PL ready to move up?Platinum's pattern is less clear to me because of the double overlapping 1-2s from middle of 2017.
It is retested the long term downward sloping trend and has made a move up significantly as of my writing today. It is testing the downward sloping line it created since the beginning of map.
Looks like it will make an attempt at the 200dma. Overall I'm leaning towards a long like Silver & Gold.
Watching PlatinumWatching closely to see if Platinum continues its move up. into a 3rd wave from its low of $770.
It is hitting the bottom of significant resistance.
Instead of the 3rd wave, the pattern could be an A B C from its low. If it pulls back below 878 it would be a good sign that this could very much be the C-wave being completed and it will target new lows
Platinum Buy & SellI think platinum has now completed leg C and is on its way up to leg D before sellers come in again. It may extend further down a bit more before going up but i think this is a good level to buy before shorting again.
DISCLAIMER
Please note that this chart is an opinion based chart only. Please trade at your own risk