XPTUSD trade ideas
Platinum Platinum broke out of the descending channel as indicated by the bullish divergence on the 4h on the MACD
price got stopped at the 0.382 level , next stop upwards form here and once we pass this resistance is the first stop in the golden zone at the 0.5 Fib level as indicated on the chart .
XPTUSD: Potential H&S in the making?Price has reached the target as analyse through my last post(). Presently, we are seeing some bullish action. But I believe that we are still on a downtrend. Will be looking for price action at the indicated QML to go SHORT.
DISCLAIMER:
Any opinions, analyses discussed in this presentation are just my personal opinion and do not constitute investment advice.
I do not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from use of or reliance on such information.
XPTUSD - Are the bears done?XPTUSD has made a real bearish structure since running in the highs of 1041, forming Lower Highs and Lower Lows. Thus i would not advice looking for any buys until we break these structures with bullish price action. This been said I see an area of interest where price could reject and have the potential to turn bullish and reverse. On the daily TF a bottom has been formed where price has spiked through. For any potential on reversal price must hold 953-950 region. Safest entry for a bullish entry would be with a break and retest of previous swing high. If price fails to hold this level i would continue to sell on retracements.
~Gratz TopTok
platinum long Likely to see a consolidation next to this bottom reversal pattern as shown on the the Daily chart on the left.
on the right we see the 4hour chart where the price moves inside a descending channel giving a bullish divergence on the MACD , touching a buy zone of good support that has a bottom on 950 .
Platinum XPT/USD (Massive Drop is on the way?)View On Platinum XPT/USD (26 JAN 2020)
We are expecting a massive devaluation in Platinum is coming up.
It may be a lil too early right now but the chance of it going down is higher.
It can $960 region can be a good target/
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What's next for Platinum ?Platinum has reached a critical resistance area at 1028.925. Feb 17, Sept 17, Jan 18, 3 times it tried to break up but failed. Will this 4th attempt be successful ?
Well, it is still riding nicely on the bullish trend line and charging up. It could break up the 1028 level and continue its bullish move OR have a minor correction to around 1000 price level before rebounding.
To buy, wait for it to break out and close above 1028.
Trade safely, always have a SL and manage your risk and capital accordingly. GBU
Getting ready to buy platinumIt has fallen 8% from its peak at 1041 on 16 Jan 20.
Two possibilities present to us now :
1. It rebound from this inner bullish trend line
2. It continues to fall further to a support zone between 933 to 953 area before we see a rebound.
Most traders are fleeing to gold as safe haven asset but not platinum so the latter might just follow the "coronavirus tide" that pulls many assets class downwards. So, until we hear more positive news about the containment of this virus, we are likely going to see more bloodshed on the street.
Remember, the capital you deployed here means an opportunity cost of not deploying to others that can give you a potential profit. So, the decision to execute as I often said is easy with a click of the mouse but the work needed to understand which one requires some analysis.
I will be watching this closely and update when I enter.
Platinum Huge Bullish Wave Buy Set Up Wave AnalysisThere is a huge Bullish wave setting up, look for a impulsive move up from the blue box
XPTUSD (PLATINUM US DOLLAR) Platinum, which is used to curb emissions from diesel cars and in jewelry, rose more than 21% in 2019 – the biggest annual gain since 2009.
The long-only exchange-traded funds focused on the precious metal attracted $850 million in 2019. That was the biggest annual inflow on record, according to Bloomberg.
Price is making higher highs and higher lows. Sitting at the .382 fib and the 200 EMA.
Waiting to break through 1000.
Platinum, my other preciousWeekly divergence and successful backtest of wedge. Should hit a target close to 1300 in a few months.
PLATINUM Structure Broken - Sell the metalPlatinum looks ready to short. Price has broken trendline and broken support structure. We got a retest and a low risk short opportunity is available.
