1H with Median Line and dailyBottom fishing aficionados: catching the 1H long while watching the daily.
TPL1! trade ideas
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.
Platinum & Median LinesBlue Median Line lower parallel test. "Bottom fishing" mode ON . Update of
Informational only, not a recommendation to buy or sell any security.
R&R AKA The Bull's Glare Strategy!Go Long when price trades within the entry or go short when price trades withing the short entry level
Median Line Platinum DailyMonitoring this level for a move north, we are monitoring something similar to
Press play to see how it worked with AUDUSD
This content is purely informative in nature and does not constitute any offer, inducement, recommendation, or legal or tax advice. In particular, the published information is not to be understood to be an offer of sale of any registered or unregistered securities or an investment proposal of any kind. It is general information provided purely for information purposes and is based on proprietary knowledge.
The information is not intended to replace personal advice. In particular, we recommend obtaining independent professional advice concerning possible financial risks and potential legal, supervisory, credit, tax, or accounting consequences before using any of the content. No liability is accepted for any possible injury or loss resulting from use of the information or content provided
Platinum-Gold equity spread, weekly chartHistorical low zone for this spread. Bullish candlestick pattern. Platinum industrial use could be on the rise due to the new technologies applications.
PlatinumWe got divergence in RSI .Waite tell price break out this channel with a green candle .
target is 977 . your stop loss is the bottom of that candle .
best luck .
