PT1! trade ideas
Platinum Double Bottom ?Likes W shapes and double bottoms. Looks like we might have another which would give a long trade to around $1160 from here.
98 PL1! Weekly Complex HSB BreakoutWeekly Complex Head and Shoulders Bottom breakout on platinum futures.
According to Bulkowski's chart patterns theory, this security could rise until :
1124: 1st Target
1206 : 2nd Target
1265 : 3rd Target
938 : Invalidation Stop
Warning : Trading involves risks. Be careful to trade only a small amount of your capital on each trade.
Platinum Longfollow up to post from a few days ago. First target of $11.07 hit. Long now to $11.81 to retest the long-term resistance. I suspect it will form an inverse H&S upon hitting that resistance to build strength for potential higher move still.
Platinum LongHeld the 100DMA support (just). Closed well above it however on Friday, stochastic RSI floored but turning nicely. I'd go long here to the Fib at $11.07. Pop a stop on just below the 100DMA just to be safe.
Platinum - Head over ShouldersDear Community,
today we have a quite interesting setup concerning Platinum. It is actually more a possible- than an expected setup but still worth mentioning.
As you can see in the chart we are expecting the formation of a SHOULDER - HEAD - SHOULDER formation, highlighted in red semi-circles. If this scenario kicks in, we could easily dip deep into the intermediate target zone at around $960. However, there is a very good chance that, if all clicks into place, it will fall through the intermediate zone, following our optimal scenario and therefore primary target ay $811.
If you follow us on our premium analysis you will know that we have opened a short position a few days back, aiming for the intermediate and hopefully the primary target. It looks good so far but we need to keep an eye on it for sure.
Good luck.
Platinum Futures Weekly Continuation ChartI like the inverse head and shoulders in the weekly continuation chart in platinum, of all the metals, this one looks to be the most promising going forward. Good support around 1100-1105. A break of 1200 could set the next target at 1300
Platinum. Retrace Complete.Retraced all the way back to H&S neckline. Assuming this continues to hold then long pattern sustained.
Potential Toppreferred structure is double zigzag for WXY, the C wave of Y may be already topped
alter count could be only the A wave of Y finished
Long Platinum to $13.53Inverse head and shoulders in place for quite some time. Very clear break above neckline & backtest.
Measured move to $13.53.
Platinum Futures SHOTSHORT
TDI = Overbought
Stochastic = Overbought
Channel lines are parallel and showing rejection NOW
Buy platinum. price is offering a nice risk/reward.long down trend. consolidation before spike. better risk/reward than gold atm.
Platinum: The most bullish precious metalWith Platinum, my long entries in the precious metal market comes to an end. Notice the decisive early break-away happened in this metal, one day prior to Gold and Silver. What a precious metal trader should notice other than this is the congestion which clearly takes place above the bearish TL. This clarity does not exist in other metals, and therefore makes Platinum the most bullish of all. I am getting impatient to go long!
PL1! daily TAThere is a possible EW count for this pair on the chart. If the view in this chart holds true in its entirety, which I think is not very likely, because the lack of a Fib ratio relationship between the waves makes it imperfect, and therefore open to failure, the LMLH will be broken by the W4, which will then visit it again around 23 March 2016. One may wish to wait until that day, or trade it as it breaks the LMLH to the downside, keeping targets tight. If the price leaves its final micro trend before reaching the TL, a short trade is again possible.
