PLATINUM trade ideas
Platinum $ spot: might history repeat itself?💡 A bearish bias is applicable below 1031
Downside target (LIKELY): 1008
Upside target (UNLIKELY): 1048
Downside price momentum supports the bearish trend. RSI is at 64. Will the price action repeat the previous move? See the red rectangles.
XPT Platinum - My theory when to go longThis is my personal analysis for XPT. I'm not a psychic, so I'm not guaranteed to be profitable all the time, however I like to take my shots.
Buy $900
SL 766
TP 1172
This is not investment advice, risk at your own will.
LONG ALL THE WAY!Hello friend, Platinum has broken out of the H&S pattern; this reminds of the days when gold broke the H&S pattern before the wild run we saw in previous months. Based on the pattern, I would buy platinum in the support zone indicated in the cart; more of a positional trade rather than a day trade. The target for the broken H&S comes around $1,500 which means 40%+ gain in the coming weeks/ months. Keep in mind that Platinum did not have similar run like gold or silver, so it is likely Platinum will outperform other metals in the next rally.
Please share your thoughts and if you like this analysis, please like and follow.
Good luck!
Plat SellzTook an early entry last week, expecting this week to provide some bearishness for metals & foreigns
Platinum - bullishPerhaps the B wave looks too much like 5 waves to be a B wave but even if it is then we would still be looking at the early stages of a C wave. Bullish either way.
Platinum- 1200 on medium term?November was quite a month for Platinum with the price rising 30%, but most importantly with a significant break above 1000 psychological and technical resistance, a resistance that held since 1017.
At this point, the price is in a normal and necessary correction, and confirmation of 1k as new support would bring bulls into the market and the price can rise to the next important zone at 1200.
Buying at 1010-1020 zone could be a great trade for the medium-term and only a drop under 950 would change this bullish outlook
XPT bullishAs my predicted on Dec 4, price hit the critical zone and pull back, here's the future critical zone to observe (take action)
Platinum Sunday, 6 December 2020
07:31 AM (WIB)
Platinum is on the rising wedge formation. It seems not completed yet, but need correction move after racing high.
Best regards,
RyodaBrainless
"Live to Ride and Ride to Live"
Platinum Playing Catch Up?Looking at the Platinum monthly chart, we see a very large pattern has formed. This is a long term analysis, but judging from the current economic conditions and the fact that the FED will continue to print money and devalue fiat currency, the metals market will likely see slow steady growth over the next few years. Platinum is looking very strong, a break of the downtrend could trigger a large thrust up and be the start of the platinum bull market. Fingers crossed, happy trading to you all.
Stay calm, patient, and level headed.
Platinum Flying To The Cloud Friday, 4 December 2020
20:24 PM (WIB)
What could give a profitable return on ROI besides Gold and Crude Oil is Platinum. Once we hit the target without losing our funds, we could achieve a huge profit on these market. Now, Platinum is on the way to the sky, but it seems to need a retracement move first that might be landing at 1000 areas. A very strong upraising movement we can see at the base ground support and rising wedge formation at the highest high. I will use a very safe order on Platinum with 10% of my funds, with a loss stop at $300.
Best regards,
RyodaBrainless
"Live to Ride and Ride to Live"
Platinum set to break through to new highsIt moves in sync with its RSI as illustrated by the blue vertical lines on the chart. If this trend continues it will retest, and possibly breakthrough into new highs and once it breaks out I don't see it stopping till $1750. No matter if it is a stock, currency, or commodity, more often than not it will contend with a previous all-time high before surpassing it.
PlatinumFriday, 4 December 2020
07:40 AM (WIB)
The most compelling reason to invest in platinum is diversification. Most investment portfolios have an extreme concentration in stocks and bonds, and commodities provide a way to mitigate some of this risk. Platinum also offers traders a way to profit from growth in the automotive industry and the industrial sector in general. Emerging economies will continue to expand, and as they do so, their citizens will consume more manufactured goods. Investing in platinum allows traders to capitalize on this trend without having to invest in local emerging country stock markets. Investing in platinum allows traders to profit from a weak dollar as well as strength in consumer spending. Growth in large industrial economies such as the United States has often occurred at the expense of a strong currency. In fact, US policymakers have kept interest rates low to stimulate consumer borrowing and grow exports.
Investing in platinum, however, does have its risks:
1. A slowdown in the auto sector or a global recession would almost certainly depress prices.
2. The development of new automotive emissions-reducing technology could also sink prices.
3. Significant Fed tightening and strength in the US dollar may lead to weaker platinum prices and weaker commodities in general.
Best regards,
RyodaBrainless
"Live to Ride and Ride to Live"
PT Platinum Forecast + Trade setupTrade setup
Stoploss 900
Take profit
1030
1125
1200
1300+
Focus on tp 2 and 3
PLATINUM : possible trend linez resistanceplatinum has done nice rally those days, check where rally could stop with some weekly trend lines
Is there any shine left on Platinum?Platinum is looking extremely bullish to me. 1700 could be the next target after a breakout here.
