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Platinum Futures

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PT1! trade ideas

PL next trade long of a 30" wave B UPIt is a lot more relaxing to trade a longer timeframe, 30 " to 60" work best with Pivot Trading. This trade is based on riding this wave up to one of these levels, in blue, these fib based numbers show most bearish to most bullish level. I got here looking at a 5" candle which also looked promising: we completed an ABC down on 5" to the elliot level predicted, which happens 80% of the time, and are ready to start the next set of 5 waves up, since we are in a mega Grand Supercycle bull trend for 24 years we presume up.
NYMEX:PLV2024Long
by dryanhawley
I suggested PL would sell off this morninggyazo.com This was the situation then, PL1! had gone up to recent ATH and set a new record for recent months. I looked at the contract 1 month out, PLQ2024 and found them way overbought, and at the top of wave 5, and there were only 3 buys that took PLQ2024 to the same high as the current contract PLN2024. Because of all these factors, reasoned that when the current contract sold off there would be no support all the way down to recent highs. It is working. proof: www.tradingview.com This contract is so thinly traded there are 0 buy contracts all the way down into the 1011.7 area. new information, my EWT SW told me they might shoot up on a 5th wave, so set a very tight stop ( usually I use an ATR stop, but this stop was to protect profits. I took 95% of my profits, went long rode the wave up and re shorted even higher than before. 1033.30. gyazo.com
NYMEX:PLN2024Short
by dryanhawley
2
PL LONGtrade logPL 976.5: I suggested we sell PL, eventually it went down to 955, see my Ideas to verify. There was a complex ABCDE UP wave correction up Monday June 10th we were long all day but sold the close @ R6. We rode it down to 958.6 and went long where you see the first buy. Please feel free to verify my posts. ;p All I have been doing it using my brokers platform ThinkOrSwin to trade on alone with fewer talking. . -- I BUY if price has reached my Keltner and bollinger band channels low. -- I SELL if price has reached my Keltner and bollinger band channels high. I made $1500 today. PL is volatile to the extreme, with huge margin, trade it carefully, it's not the ES! I'm long ATM since the buy signals left behind from my trace calls. If I can I will do a presentation soon.
NYMEX:PLN2024Long
by dryanhawley
Platinum Supply Gap Widens: Johnson Matthey Report AnalysisJohnson Matthey's latest report on the platinum market reveals an impending supply deficit not seen in a decade, despite some expected declines in vehicle production. The shortfall, exceeding 600,000 ounces, is driven by sustained demand across industries like automotive and industrial applications, particularly in China. Key Points: - **Supply Shortfall**: The report predicts a substantial deficit in platinum supply due to maintenance issues in South African smelters and lower scrap stream volumes from end-of-life vehicles. - **Strong Demand**: Surprisingly, the automotive sector saw an 8% increase in platinum demand in 2023, mainly due to the slower-than-expected adoption of electric vehicles (EVs). Industrial applications in China also contributed to sustained demand. - **Price Implications**: Despite the supply-demand imbalance, platinum prices have remained relatively subdued, suggesting market complexities beyond simple supply constraints. Looking Ahead: The report warns of potential disruptions in South Africa, a crucial platinum producer, and uncertainties around EV adoption rates as key risks to watch. Nevertheless, the persistent supply deficit is expected to define the platinum market's near-term trajectory. (insert-link-here)
NYMEX:PL1!Long
by signalmastermind
Platinum: Examining Resistance Retests and Seasonal BehaviorThe recent movement in Platinum futures has seen a notable retest of the upper boundary of the range, coinciding with a resistance zone commonly referred to as "Supply." Our analytical approach begins at this critical juncture, where we factor in various elements, including the seasonal behavior observed in this precious metal over the past decade and a half. A meticulous examination of historical data reveals a consistent pattern wherein Platinum experiences a significant decline in value from May through July. This seasonal trend, observed over the course of the last 10 to 15 years, underscores the likelihood of a continued downturn in Platinum's value during this period. In light of this compelling historical precedent, we are inclined to anticipate a continuation of this seasonal pattern in the current market environment. Consequently, our focus is squarely on identifying and capitalizing on potential bearish opportunities. Specifically, we are actively seeking a setup that anticipates a local retest of the aforementioned resistance zone, which could serve as a catalyst for a reversal in price direction. By aligning our analysis with both technical and seasonal considerations, we aim to position ourselves strategically to navigate the evolving dynamics of the Platinum futures market.
NYMEX:PL1!Short
by FOREXN1
1
PLatinum shaping up for a ton of upside to $1,132 tech and fundsBox Formation and W Formation is showing on the Daily chart of PLatinum. We do need the price to close above the neckline of both patterns to really confirm upside to come. So far the MAs are also confirming a bullish inclination along with the rising uptrend. Price >20 and crossing 200MA Bullish bias Target $1,132 Let's drill into the fundamentals for the rising PLatinum price One of the significant reasons for the price increase is the deepening supply deficit that was observed in 2023, which is expected to continue into 2024. The World Platinum Investment Council (WPIC) had revised its expectations for the platinum deficit in 2023 to nearly twice its initial estimate, highlighting a considerable shortfall in supply against demand​ (INN)​. This deficit is largely due to decreased supply, with production challenges in major platinum-producing countries like South Africa, where mines have faced electricity issues leading to production deficits. Despite some improvements in production, the overall global output of platinum decreased year-on-year, while demand, particularly from the automotive sector and for investment purposes, has seen a notable increase​ (INN)​. Also, the demand for platinum in the production of green hydrogen, which uses platinum-group metals (PGMs) as catalysts, is also contributing to the increased demand. The green hydrogen sector, which focuses on producing hydrogen from renewable sources, has seen significant investment, further boosting platinum demand​ (INN)​. The auto sector, a major consumer of platinum due to its use in catalytic converters, has begun to return to pre-pandemic production levels, further straining the available platinum supply​ (INN)​. And investment demand for platinum is expected to rise, with projections indicating an increase in platinum bar and coin demand to a three-year high, as manufacturers in North America and Europe allocate more capacity to platinum due to weaker demand for gold and silver​ (The future of trading)​. All giving great buying signs for the precious metal.
NYMEX:PL1!Long
by Timonrosso