Get started
munyaelliott

PLATINUM/RAND (XPT/ZAR) 1-HOUR TIMEFRAME SHORT

Short
Platinum/South African Rand (SAXO:XPTZAR)  
munyaelliott Updated   
SAXO:XPTZAR   Platinum/South African Rand
Trend Analysis Chart Patterns Platinum XPTZAR XPTUSD xptusdshort Commodities Gold wallstreet angloamerican angloplatinum
3
0
trendanalysis chartpattern platinum xptzar xptusd xptusdshort commodities gold wallstreet angloamerican angloplatinum
I will be selling the XPT/ZAR if prices breach below the R11 550 price. Currently, prices are moving in a downtrend, g=forming a series of lower highs and lower lows and bear flags. If we see the corrective structure being breached to the downside, we will get our confirmation for a short trade.
Comment:
Trade was invalidated as platinum rose due to the weakness of the rand caused by dollar strength. The trade wars have really caused emerging currencies to weaken, especially those that depend upon China for trade like South Africa (with its rand). A lesson that you must never fiddle with emerging currencies without knowing what is happening to the dollar where it is involved, and basically if you are a rookie.
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.