Platinum (XPTUSD) is trading around the 1D MA50 (blue trend-line) after a rebound on the bottom (Higher Lows trend-line) of a potential long-term Channel Up structure. This is the 2nd time it bounces off the Higher Lows and the 4th within the 7-month Support Zone.
The 1D MACD made a Bullish Cross last week and is on Higher Lows since June 30. The very same Triple Bottom formation on a Higher Lows MACD can be seen on the previous bottom. The Lower Highs trend-line break-out didn't confirm the bullish signal, it had to be a break above the 1D MA200 (orange trend-line) to give the confirmation. As you can see on both fractals the price got rejected on the 1D MA200 (August 11 2022 and July 18 2023) before it bottomed.
As a result we may have a low risk buy signal on the current level but it is not confirmed yet and needs to break above the 1D MA200 to do so. Our long-term target is the Top of the Resistance Zone at 1130.
-------------------------------------------------------------------------------
** Please LIKE ๐, FOLLOW โ , SHARE ๐ and COMMENT โ if you enjoy this idea! Also share your ideas and charts in the comments section below! **
-------------------------------------------------------------------------------
๐ธ๐ธ๐ธ๐ธ๐ธ๐ธ
๐ ๐ ๐ ๐ ๐ ๐
The 1D MACD made a Bullish Cross last week and is on Higher Lows since June 30. The very same Triple Bottom formation on a Higher Lows MACD can be seen on the previous bottom. The Lower Highs trend-line break-out didn't confirm the bullish signal, it had to be a break above the 1D MA200 (orange trend-line) to give the confirmation. As you can see on both fractals the price got rejected on the 1D MA200 (August 11 2022 and July 18 2023) before it bottomed.
As a result we may have a low risk buy signal on the current level but it is not confirmed yet and needs to break above the 1D MA200 to do so. Our long-term target is the Top of the Resistance Zone at 1130.
-------------------------------------------------------------------------------
** Please LIKE ๐, FOLLOW โ , SHARE ๐ and COMMENT โ if you enjoy this idea! Also share your ideas and charts in the comments section below! **
-------------------------------------------------------------------------------
๐ธ๐ธ๐ธ๐ธ๐ธ๐ธ
๐ ๐ ๐ ๐ ๐ ๐
๐Best Signals (Forex/Crypto+70% accuracy) & Account Management (+20% profit/month on 10k accounts)
๐ฐFree Channel t.me/tradingshotglobal
๐คตContact info@tradingshot.com t.me/tradingshot
๐ฅNew service: next X100 crypto GEMS!
๐ฐFree Channel t.me/tradingshotglobal
๐คตContact info@tradingshot.com t.me/tradingshot
๐ฅNew service: next X100 crypto GEMS!