PT1! trade ideas
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 - 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: 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!