Get started

XPT

XPTUSD: Pull back completed. Resuming the bearish trend.Platinum has nearly completed a 0.382 Fibonacci retracement (860.500) on the 1W chart (1029 Top - 756.500 Bottom) and the price should be technically ready to reverse again lower and follow the long term bearish trend. 4H has already developed a Channel Down (RSI = 43.280, Highs/Lows = -0.2893, B/BP = -3.7820) which may spread to 1D (also on Highs/Lows = -1.3214, B/BP = -2.800). 807.070 is the 1D support that needs to be crossed. Also watch for the Higher Low supporting lines (indicated in red). Short, TP = 792.940 and 756.550 in extension.
OANDA:XPTUSDShort
by InvestingScope
Targets hit. New bearish pattern in development. Short.Both TP 878.128 and 852.737 in extension have been hit as the previous Channel Down on 1D even crossed our estimated 793.519 bottom. This break-out maintains our sentiment on a bearish path for Platinum as a new Channel Down is being developed on 1D (RSI = 41.648, MACD = -12.930, Highs/Lows = -6.5407, B/BP = -19.9240) seeking 740.000 as its next Lower Low. Only if 846.20 gets crossed, can we consider the probability of a trend reversal, as it will break the Lower High on the 1W Channel Down. Unless that happens, we will stay short on XPTUSD with new TP = 756.538 and 740.857 in extension.
OANDA:XPTUSDShort
by InvestingScope
XPTUSD Long idea after correction completesAnalysis: I've seen XPTUSD show a Impulsive move, and then correctively retrace towards the origin of the impulse. it has a little further to go hit the reversal zone indicated at the dashed orange lines. Hypothesis: I am looking for latent buy orders to kick in at the levels identified. Price should trade up to resistance where I have indicated by the blue arrow Risk Management: Trade potential 4:1 + Take off half at 1:1, and move stops to Break even. Let rest ride to Target. If you are concerned going long against short term bearish momentum.. you can wait for a 1D bullish candle before entry. PS: If my analysis is to your liking... please like the post & subscribe. Thanks.
OANDA:XPTUSDLong
by james_007
6