Dear Community,
today we have a quite interesting setup concerning Platinum. It is actually more a possible- than an expected setup but still worth mentioning.
As you can see in the chart we are expecting the formation of a SHOULDER - HEAD - SHOULDER formation, highlighted in red semi-circles. If this scenario kicks in, we could easily dip deep into the...
I like the inverse head and shoulders in the weekly continuation chart in platinum, of all the metals, this one looks to be the most promising going forward. Good support around 1100-1105. A break of 1200 could set the next target at 1300
With Platinum, my long entries in the precious metal market comes to an end. Notice the decisive early break-away happened in this metal, one day prior to Gold and Silver. What a precious metal trader should notice other than this is the congestion which clearly takes place above the bearish TL. This clarity does not exist in other metals, and therefore makes...
There is a possible EW count for this pair on the chart. If the view in this chart holds true in its entirety, which I think is not very likely, because the lack of a Fib ratio relationship between the waves makes it imperfect, and therefore open to failure, the LMLH will be broken by the W4, which will then visit it again around 23 March 2016. One may wish to...
The monthly look warned us about an imminent reversal, but I have no interest in getting into the train too early. The price has not yet reached the ML. And notice I choose my anchor placed between P1 and P2 of the pitchfork for a better fit, rendering the UMLH as the action line. Thus, I am waiting for a continued bearish action. The final arbiter will be the...
