Platinum is showing several signs of a peak to place a short with good risk/reward. The CCI is now re entering below 100 after travelling on a highly overbought region. Also, this peak coincides with the upper 0,5 line of the pitchfork. A first target on the lower 0,5 line around the same line of the 0,5 fib. Thanks for your comments.
Equal leg higher A pullback is a bear trap - upside risk reward seems more viable Pullback from current higher is deem appropriate to test strength - also to clear out weak longs
Daily: - Bullish ichimoku setup, with support zone 1125-1145 (Tenkan-Kijun and Senkou lines area) - Heikin-Ashi warning! haDelta has been diverging for a while. Today we may have first candle of indecision, with both upper and lower wicks and with an inside body. This indicates consolidation / pull back. 4H: - Ichimoku setup is bullish, but market is losing...
PLATINIUM
Major setup is still bullish on Platinum, but on 4H I already see serious negative divergences. For this reason I took profit on my longs (opened at 992 and 1005). Tech details below: Daily: - Ichimoku setup is bullish - Heikin-Ashi candle is still bullish, but haDelta hit extreme high two days ago. haDelta/SMA3 started to correct lower, while we still saw...
Hi, Platinum PTUSD is very interesting in this moment. It is converging to a strong supply, giving a possibility to take a good sell trade. Of course accepting the risk. I am a Trader of profiting.me Thank you Girolamo Aloe
Platinum, channel, support and resistance
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...
3drives + ABCD having a go at the long side with small risk... see what happens...
Platinum continues to get hammered in every witch way possible. This should be a tremendous opportunity for some long term longs. The chart on the right is the Platinum and Gold ratios. This chart only goes back to 1998 or so but if you can find a chart going back further, you'll find that PLT and GLD ratios multi-decade is around .68 - .75. This is a BIG buy...
At a 'Bat' level 88.6% retracement, What I am personally looking for now is a break below the prior low to flush out the longs and simultaneously confirm bullish divergence on the RSI I will be scouring the lower timeframes to look for clues of a turn to try and minimise risk on a position trade long
Platinum breaks out of long term downward sloping trend line. A pullback to previous resistance 947.36 lines up perfectly with the .618 retracement and also a retest of the trend line for support