Plat vs Gold has steadily decreased for some time. It appears that may be coming to an end. I have strived to point out a few factors which I believe point to a potential turn in the relationship. I would be watching the daily quite closely if this relationship (and it's implications) are of interest to you. The daily is starting to perk up, hinting that...
Are we building a bearish bat to (b) for the ensuing reversal to (c) for completion of Wave 4 correction?
It appears we may be forming a bearish Bat long term. Much work to do to get this kicked off, but if correct, this suggests an upward trend in the months to come. This could also tie into the pitchfork progression reaching the top depending upon the angle of ascent. This is just a heads up going forward of what may be developing.
Following the selloff, we have surpassed the prior high and retraced. Now showing strength for a possible C leg (or w3). New momentum high relative to the downtrend.
Just looking ahead at a potential shorting opportunity that may yet unfold in some fashion. This is an alert to monitor this possibility going forward.
After what appears to be a double top put in by DXY, price is moving down. Looking at several confluent factors for potential Target area: 1. Large .786AB=CD 2. .618 Retracement 3. Bottom of rising channel 4. Parallel channel break with measured move exceeds target area 5. Projected 1.272AB=CD in current move down
Is Platinum about to shine again on its way to the PRZ?
We have a few measures that provide an area of potential reversal should we reach it. Will we be seeing an upward bias in the weeks/months ahead to get there?
Just a heads up that we appear to be forming a bearish butterfly with a PRZ confluent with an obvious resistance area.
We have a number of factors which may support a corrective rally (assuming w5 has/is near completion). Would need to see definitive evidence of reversal (candle pattern, etc) on lower time frame to trigger any desired long.
We have a larger/smaller ABCD "1.13" setup at our current recent low. Divergence on both AO/3/10. Each will have its own 3 target areas.
Silver has continued to rally, and is now just below the PRZ of a Bearish Crab. This is a heads up.
It appears we may be near/at the end of a 5 wave move down. Typically, we would look for an ensuing larger corrective move or start of a new trend.
A pattern worth investigating for yourself. You may well find this to be beneficial in your trading. Those that employ EW are well aware of these, while others may not be. Just a heads.
CTL has printed a weekly reversal candle at a prior gap area. Should price rally from here, we may have seen the "C" point of a potential Bearish Butterfly in the making.
These are just a few examples of how one might apply these. By utilizing trend, sup/res, mean reversion, etc, I believe these can enhance your edge a great deal. This, along with lower time frame entry techniques (your favorite), should provide many nice opportunities with specific profit targets. Of course, they can also be incorporated within the Cypher/Shark...