Fundamental analysis
- Strong bullish COT change towards EURO
- COT long/short ratio in favor of EURO
- Retail is shorting this asset
Technical analysis
- Retracement to 4H inverse H&S pattern
- Strong demand zone on 1H within right leg
Fundamental outlook
- Economic sentiment turned risk-on last two weeks
- Upcoming Christmass and new year could be a bigger cataclyst towards risk-on assets
- High swap rate (83$ per lot)
Technical outlook
- 4H charts shows a strong inverse H&S patern
- Price retraced to resistance - clean order block on 4H and 1H TF
Will try to pyramid this trade as it gives...
- Correlated with EURUSD (fundamental bullish outlook, USD inflation goal got hit, risk-on environment)
- COT data and retail in favor
Price retraces towards 4H order block, found above a daily breaker block (support becoming resistance).
RR 1:5
Happy trading
Trade setup: XPTUSD 4H - SWING TRADE LON
- 72,65% of Institutions are holding LONG positions in Platinum
- Daily timeframe in uptrend (made new higher)
- 4H downtrend broken by strong demand zone
- 15 minute timeframe has inverse head & shoulders as confirmation
