XPTUSD trade ideas
XPTUSD SHORT AREA DEDECTEDLooking at the chart I have dedected a nice area to go short, currently price is inside of it, also found two possible TP area´s
Platinum Long term uptrendThere's lots of bullish signs in all timeframes for platinum to go up, especially on the Monthly. I have a good feeling about this often forgotten precious metal. I can easily see a 35% increase from the time of publishing this idea. I will update on the progress as time goes on.
PLATINUM Golden CrossRecently platinum has broken the downtrend, and made a nice upward move setting up this golden cross on the weekly chart, its as simple as that.. upsides can be expected as a result of this. Happy New Year from Australia :D
Platinum Top on the Way..Commercial producers in Platinum have been heavy sellers in the NYMEX contract lately. This action typically bodes poorly for Platinum prices shortly thereafter. Once the commercials get down to -50k contracts, this can be a good signal to short. Using this weeks "Eskom Power Shortage" news to open a new short position on the NYMEX PL contract.
In times passed, any news relating to a South African miner's strike or a Eskom Power issue typically results in a 2-3 day price jump which is short lived as the producers come in to sell it back down. Will add additional contracts every $10 higher. Profit target is when the commercials have covered contracts (or have delivered metal) back into the -20k range which likely means the $780 to $800 range.
Platinum to Blow Higher in 2020 in a Big Way: Don't Miss It!Platinum, alongside Gold and Silver are one of my top outperforming sectors for 2020. However, Platinum is incredibly undervalued and has ALOT of catching up to do.
I believe Platinum will do what Palladium did and quietly run up at-least 35-40% in 2020 (possibly 50-60%) with very little slowing down until it reaches at-least 1700-1800. In fact, I wouldn't be surprised if Platinum and Gold finish close together by the beginning of 2021 nearing 1700-1800 USD/oz.
One of most attractive parts of Platinum (technically speaking) is Gold and Silver move together, however, Platinum can move independently. Further, Platinum is "rarer" and "harder to mine" than Gold and Silver but typically doesn't act as a monetary hedge like Gold does. What this means is when its "time" for precious metals to run, Platinum can run parabolically at any-time.
In my opinion you can't go wrong investing in Gold/Silver/Platinum bullion and choosing 1 high quality mining stock of each.
A lot of people have messaged me asking to post my top performing sectors for 2020 and my list are as follows:
1) Canadian energy (Enbridge, TRP and Canadian Natural Resources)
2) IIPR (Cannabis REIT)
3) Precious Metals (Gold, Silver, Platinum)
4) US Technology
For Platinum the only stock you want to be in is Impala Platinum. And for Platinum bullion you want PPLT.
- zSplit
Platinum is offering a joyride soonOn the contrary with my Palladium trade idea, the Platinum too has broken out of its long term bearish trend line since Mar 08 at 2298 price level. To be able to grab this buy opportunity after 11 years of waiting is indeed a God's sent blessing.
And imagine if it would to go up to the desired target at 1287, the profits is lucrative indeed.
My oh my, would you join me in this ride up or would you stay on the side ?
We hit XPT with 944. What's next?After our successful plan last time and hit even more than we anticipated. So what now? Our short term plan is to have a small correction as low as 915. Then we go up again for the midterm. As Platinum is quite volatile, short term against the main trend is very risky so we refrain from entering it.
With low leverage, it can be tried like this:
Entry: 935
Stop: 944
Final target: 919.
Remember that the bigger time-frames signal us that it will surge but the likelihood of correction before moving up is pretty high.
simultaneaous sell off in Pt PdIt began in Palladium fits, then the sell off in Pt followed ! This happened independent of Au Ag.
like ship ans sub, or cat and mouse. . .
things to ponder
Pt 'normal' trade. Platinum has been trading naturally during this week. End of week trading might ring a dump. It seems to have come on Tuesday. Pt dipped below 920. That was unexpected.
Shallow Double Black parabola ( convex ) has proved to be a guide. just below it is Dashed Black. ( concave )
White ovals indicate foreshadowing; Yet the price level is no higher than the previous local High.
