Ichimoku:XPTUSD There is a trumpet shape near the strong supportIchimoku:XPTUSD There is a trumpet shape near the strong support
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XPTUSDG trade ideas
Platinum| Bullish Reversal Impulse Entry :)Dumelang Everyone :)
If price pushes up and breaks out I'll be looking for the continuation after the breakout or If price pushes down 1st I'll wait for the first bullish flag after the bullish reversal impulse.
** Dumelang (Hello in Tswana one of SA official languages')
Platinum backtest complete. Violent rallies ahead for 2022.Platinum has completed a backtest on the upward resistance line (now support) of the bearish wedge pattern it has been trapped in for 12 years.
A breakout and a retest is incredibly bullish and i'd expect the price to reflect the set up we are seeing by 2023/2024 by reaching old highs.
PLATINUM moving higher 🦐PLATINUM on the daily chart tested a few times the weekly dynamic support before moving to the upside.
The price is moving into a descending channel and is currently testing a daily resistance.
According to Plancton's strategy IF the price will break above and satisfy the Academy rules we will set a nice long order.
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Follow the Shrimp 🦐
Keep in mind.
🟣 Purple structure -> Monthly structure.
🔴 Red structure -> Weekly structure.
🔵 Blue structure -> Daily structure.
🟡 Yellow structure -> 4h structure.
⚫️ Black structure -> <4h structure.
Here is the Plancton0618 technical analysis , please comment below if you have any question.
The ENTRY in the market will be taken only if the condition of the Plancton0618 strategy will trigger.
Platinum to 1506 (minimum)As you ca see Platinum has broken out of a descending triangle within a upward channel which has been well respected so far.
There was recently a false break out of that channel but has since regain it's poisiton.
Target @ 0.786 fib extension level which is rather conservative within the daily time frame.
On a weekly this looks even more enormous as show n in the screen shots below.
Platinum Prices Bounce After Nearly Breaching Triangle Support Platinum prices bounce off Symmetrical Triangle support after nearly piercing below the key level. The falling 50- and 100-day Simple Moving Averages may cap upside within the triangle, with the 61.8% Fibonacci retracement sitting above those SMAs. A fresh low following the September swing low points at a bearish bias within the triangle, but overall the neutral posture remains.
The MACD and RSI oscillators are showing positive momentum. Triangle resistance may prove a hard level to break with confluent resistance offered by the falling 200-day SMA if prices rally. A reversal lower would warrant caution given the recent test of support.
Looking to Short and Follow the TrendStrong support at $895
We are currently overbought on the RSI - looking at previous action at this level we continue to head down.
Looking at the downward trend line it was a fake out and buyers had a good attempt of pushing up but it could not hold. This shows selling strength is strong.
Looking to sell once bearish engulfing confirmation candle closes inside the trend line with a TP at $895