TPL1! trade ideas
Platinum Trade ideaPlatinum bounced couple times of 900 resistance, to stop in 950's regions. To ultimately reach 1000's
This is just an idea
Breakout from 5yr down channelPretty clear weekly close here above the falling trendline for the last 5years.
King of the MetalsI have published previously on the silver/gold ratio. Silver is bound to outperform gold over time. The question is whether platinum will outperform silver and gold, or underperform both metals. Watch the dotted line for a breakout. If anyone has interesting research on platinum please post in comments below or pm me (fundamental or historical is preferred).
954 is technical resistance in platinum. Watch current level.
Bottom fishingThe prices are bouncing from a pretty relevant dynamic support.
These levels could be good enough to check for a major trend change.
Pattern on watch
Everyone is buying cryptos, while PL looks "precious"Pun intended. All I hear from the post office guy or my friend's aunt or whomever wants to talk about finance is, what's going on with these cryptos. There's decent coin to be made on the precious metals here. Let me quarterback this out.
Initial Margin in PL: $1925
A 25 handle move = $50/handle x 25 = $1250 profit, less commissions.
ROI = 65%
For any investor/trader to make 65% on a crypto from here would mean. Now if I go on bitmex and trade a perpetual inverse swap, now we're talking!
BTC from 7800 to 12,870
ETH from 330 to 544.50
I love trading all assets and don't have biases toward any particular one. Important factors remain the same: liquidity, volatility, slippage, flow and hours and feel for it watching the tape. One isn't better than the other. It's the one that suits your trading style, personality, risk tolerance, sleep-like-a-rock-ness, and obviously, profit potential. Point being trade it all, learn it all. Try it all. Then figure out which one you can get really really good at and focus on that.
Betting that Platinum will start an uptrend from hereMainly based on it touching a very old trendline which I hope will hold.
1H with Median Line and dailyBottom fishing aficionados: catching the 1H long while watching the daily.
Platinum On daily chart:
We are trading in oversold area of RSI with a possoible positive cross on MACD below zero line in next few days .
I am expecting a move up to wave B in yellow area after this falling down .
Still bearish and waiting for any positive signals . I need the price to go out the down channel 1st .
Platinum Futures. Watching and Waiting to go LongPlatinum, along with gold and silver, have been in a decline for the past month (20 bars) with no reprieve in sight. We will be looking at previous S/R zone of 890-900 for entry points. Bottoming is usually a process and we never look to "pick the bottom". We've learned over the decades that that's a losing game with a negative ROI. We are merely examining which spots give us the highest probability and then use prudent risk/reward management to entry and exit trades with predefined stops and targets. Let's keep it simple.
PLATINUM BEAR FANEven if platinum has shown strength recently I still believe that the bear trend will resume soon. The 1000.00 psychological number is a good opportunity to test.
Platinum finished a healthy correctionThe chart shows a perfect example of a healthy fibonacci retracement. Price dipped below the 1H 100 EMA and started to recover. 980 remains solid support. To those looking for long positions: this might just be the moment you were waiting for.
Platinum UptrendOctober Platinum using 20 day moving average as support as it continues to move up building out a bullish Cypher. Next upside target 996.4 for a double top.
Platinum Bearish Cypher SetupOctober Platinum is coming to the end of a Bearish Cypher. Overbought condition and the ceiling of R3 should send Platinum down. Downside target is 948.5. Historically, Platinum rarely exceeds R3, so a better potential for short term downward pressure. Watching to see if it can eclipse 973.5 as it could take one more run up before coming down.
BreakoutBroken the near-term downward trend and on the daily chart has broken and is trading above then200DMA. Looking for this to now out in a higher, high - something over 976 and enter the long trade looking for at least 1005 which is the 50% Fib of the most recent low/high phase and a key pivot level.
RSI bottoming & 50% retraceRedrawn my Fib lines as the full low to high move during 2016. The 50% Fib at around $2.8 is coinciding with what looks like a bottoming of the RSI. Potential long entry point.
