PLATINUM trade ideas
Platinum for upsideGood risk to reward ratio on this trade. A conservative trade would be the break above the upper boundary of the correction. Trade with care and remember to manage your trades.
XPTUSD Watch for BUYHi traders,
If the price will started to push strongly to the upside watch for your lower time frame buy setups.
XPT USD BUY (PLATINUM - US DOLLAR)Hi there. Price is forming a continuation pattern to the upside. Wait for the price to complete the pattern and watch strong price action for buy.
Potential Bat pattern on Platinum (4H)A metal to watch out for as a harmonic bat pattern is seemingly being formed, however, PA for this commodity is seemingly very nasty.
Any comments welcome as I am relatively new to this... Thanks! :)
XPTUSD Sell SignalPattern: 1D MA200 rejection.
Signal: Bearish as the rejection took place on the RSI support level.
Target: When the RSI hits 33.73.
** Please support this idea with your likes and comments, it is the best way to keep it relevant and support me. **
Platinum short - Daily ChartPrice seems to be obeying previous trendlines (red dotted line & pink line).
As price meets vwap once more, it looks like a good area for shorting.
Wait for an entry reason, what ever you choose on a lower time frame.
XPTUSD | Platinum Horizontal Support and Resistance LevelsXPTUSD | Platinum Horizontal Support and Resistance Levels
XTPUSD Short biasXTPUSD is approaching a weekly area of supply, there is also a 4hr area of supply inside a weekly area of supply. I am shorting this cryptocurrency on the 4hr zone it is approaching. use proper risk management if you do decide to take this trade. I recommend 1%.
Platinum To Break Above Consolidation This WeekPlatinum Overview
Good ol’ XPT closed the week higher. If P action at Mondays open can push P action above this consolidation platinum could have a good week in the green. A hold above this and a follow of the likes of Gold and Silver could see price reach $880 within the next 2 weeks.
If American markets fall, will look to see the precious metals take a slight dip also, however will not fall with as much volatility.
Area of Interest
Focusing more on the internals and TA on the charts Platinum must hold the trend line from the lows, break through the inner high trend line freeing itself from the grasps of the last 2 weeks consolidation area. 820 will see some considerable resistance that bulls will have to fight to get higher.
📈Support & Resistance📉*
Support Levels
1st Support Zone: 755.484
2nd Support Zone: 713.468
3rd Support Zone: 682.747
Resistance Levels:
1st Resistance Zone: 799.035
2nd Resistance Zone: 818.817
3rd Resistance Zone: 863.278
Price Level Consideration
All Time High Half Way Point: 1151.080
Prominent High: 1020.971
Prominent Low: 563.635
🐃 Bulls Verse Bears 🐻
🐃 Bullish above: 918.377
🐻 Bearish below: BEARISH at the moment
Monthly & Weekly Opens
Monthly Open:776.026
Weekly Open: 771.095
