Hah... These trend lines are the accumulation of attempts to figure this thing out over the last year. Ridiculous price action but learned to leverage the volatility and play the extremes. Currently at a relative downside extreme. Also signs of Wyckoff Accumulation similar to the build up when it popped Jan 2021. Time series 1-month point forecast target is 163,...
We opened this position about 30 days ago and played the time premium after the huge up move in oil prices. Our initial risk was $200 for a total collection of $50.
Platinum has been in a correction since 2008. Since then it has established a clear lower support of this massive sideways move. Even though the current market phase is a correction, it yielded some opportunities to make profits. Right now price is appraoching the balance zone, but the lower support hasn't been hit in that internal downtrend that was going on...
Numerous times price tried to break out to the upside on the NZDUSD Daily. It has always failed. During the last week of trading the same has happened, price wasn't able to stay above the important resistance area (marked by fractals), instead it went right back into the balance zone. It's possible a new down fractal will form soon, that would be another selling...