Monthly Chart Symmetrical Triangle Break of 8030 or 1030 will create a strong trend As of April 2024, trend is positive for XPTUSD being green 70% for April last 10 years and testing bottom of the symmetrical triangle and nearing monthly support Can buy dips down. As long as 850 holds can play long if it breaks, switch bias
Hope all is well traders! As we observe XPT on the hourly, I do see a descending trend line here. As it continues to create lower highs, the past couple hourly candles have been very flat. We can possibly see it climb up toward 903.69 or even up to 905 (top of the trend line) But I'm aiming for the long term short on here and break below the 891 support.
XPTUSD is trading in bearish trend in 4hr time frame as it is showing lower highs lower lows and confirmed by the formation of Bearish Engulfing Candlestick.
As we observe XPT break the ascending TL on the 4h. It has tested the weekly resistance and has reversed the trend. I'm looking for it to rally back up at 927 to potentially create a lower high.
XPTUSD is currently showing bullish trend, making higher highs and higher lows.
As we observe the hourly, we have created a slightly higher high. Like I mentioned on my last analysis, we're in a nice uptrend on the 4h. Zoom in the smaller time frame, it seems to be ranging around the 942 and I would need it for it to crack above for a buy. If it doesn't, we might see a pullback
Platinum (XPTUSD) broke above the 1D MA200 (orange trend-line), and being on 1D RSI Higher Lows, we may be having a strong rally in its early stages. At least this is what the very same Higher Lows RSI pattern has led to when Platinum made the very same 1D MA200 break-out on October 26 2022. The result was a +28.50% instant rally from the bottom and then a finaly...
We approach the previous daily highs @ the 932. 4h shows a continuation uptrend so we might see a test and potential breakout of this daily high.
Platinum has been trading in a range on hourly and 4 hour chart Hourly Chart Bearish Divergence Sell on retracement to 0.382 fib level Stop Loss set above the highs and TP set with 1:1 ratio and previous resistance turned support
Rationale: COT sentiment The last COT report shows that Commercials' net short positions have been decreasing, which could indicate a shift in sentiment towards the bullish side. The COT report can be used as a tool to gauge the market sentiment of traders. When Commercials' net short positions decrease, it could signal a potential shift in sentiment towards...
Rationale: COT sentiment The last COT report shows that Commercials' net short positions have been decreasing, which could indicate a shift in sentiment towards the bullish side. The COT report can be used as a tool to gauge the market sentiment of traders. When Commercials' net short positions decrease, it could signal a potential shift in sentiment towards...
Platinum is sitting at a Support Zone which aligns with the PCZ of a Bullish Cypher with RSI and MACD Bullish Divergence all on the Daily Timeframe and looks to be setting up to begin a retrace towards the resistances marked above.
Hourly Chart Bullish Divergence Double Bottom 98% Long Bias on Myfxbook.com Buy Above the LH for TP1 and TP2 calculated based on risk taken (SL) set below the low 1:1.5 RR Trade
The price of platinum went below 17 January ($880.51), this represent a cycle failure so we expect price to continue maintaining a bearish drop into a weekly low price.The previous 10 weekly cycles had an average of 32 weeks, we are currently at week 12 so it might be a long way to go unless we have a very short weekly cycle of around 20-22 weeks.
Price have alot of liquidity built up and untested at the bottom side. More than likely could reach down there to clear it while making a NEW EXTERNAL LOW just to buy up clearing all INTERNAL range liquidity while on its way BU to form a NEW EXTERNAL high. Which will TAKE TIME.
Goldybug's is watching the activity of his cousin Platibug. He's been a bit down lately but all bad times come to an end as they say. On the 5 year chart, Goldybug notices that there have been 3 instances when platinum has crossed it's lower BB line and then risen rapidly. Knowing when to exit is as important as knowing when to enter. Goldybug exits when the price...
Understanding how the market operates. Keeping up with global news events which impact financial markets'. Monitoring your open positions. You make money if the price moves either up or down's. If the price decreases in value, your position makes a profit.