TPL1! trade ideas
Patinum +10% on seasonal gain?For Platinum, the seasonal gain is quite clear. I'm very hapy to see positive price action at this time, making it a good edge on this trade.
PLATINUM LONG IDEA 4HIt already broke out of a falling wedge on the daily chart. A bounce of the fib level 0.786 to 0.618 would be nice to see.
PLATINIUM - potential LONGPrice tested MN DZ, into MN DZ nice W1/D1 DZ. W8ting for deep penetration to Zone and long.
Platinum Watching AreaPlatinum Trading around 895 level.If hold above 876-88
we can see toward 935-950. Where breakageof 875 may call for 835-820.
Watching Area 895-880.
We expecting a jump toward 935-950 before below 875.
PLATINUM BROKE OUT & IN A ZONE WHAT NEXT ? WILL THEY BUYERS KEEP FAILING OR WILL THEY PUSH UP TO THE 972.4?
Buy platinum on Strong support Platinum Trading around 914 near its monthly low it can bounce back as corrective move from current level or from 895-900 level toward 950-970
Advice to buy pair in range of 914-890 sl below 870 TP 955
Platinum Makes UptrendPlatinum has been pretty wild for the past few days. True, it is still lower than heck on the daily, but notice how the hourly has started an uptrend. This could be a chance in on the ground floor before a large move upward if the support line holds. Price action is yet to confirm.
$8 Platinum?Long term trend lines needed to make sense of current price action. Can only see this falling further.
sPLAT!?!I'm not sure if a Head & Shoulders pattern is the correct interpretation here, albeit, a neckline is fairly visible. Further, the probability of its breach increases with every re-test.
Platinum at key levelPlatinum "broke" its down trend recently, but it had a dramatic 2 day pullback to the base of the breakout. It is unclear whether the recent upswing was just a mildly longer pullback (see figure for pullback amounts) which will result in another drop in price or whether this is profit taking from the recent upswing.
A break below 930 indicates a continuation of the downtrend. A bounce off the 943 level indicates a new uptrend. These are confirmation signals, but what if you want to enter the trade sooner? See below.
What type of trader are you?
1. The 976 level could be a "loose" neckline (it could be drawn lower of course) to a head and shoulders pattern that had an absurdly abbreviated right shoulder (excellent short signal!)
2. Since the breakout coincided with both the 200 day EMA and the previous low of the downtrend, there is expected to be hard resistance and a pullback before a solid breakout (go long!).
Metals overheated! Two "P" (platinum and palladium) likewiseOpen interests for precious metals are sky-high and Commercials are ensuring themselves against decline prices like crazy.
With all the guaranteed advice for buy by proffesional analysts over the internet right now... I would rather wait with buying for couples of weeks from now...
