Platinum - 3 trade plansThis is what we are looking for Platinum to do. We have several trade plans to trade, as it gives us the market setups.
TPL1! trade ideas
Platinum welcomes Bull Market since April 2023SInce April, we've seen the price on a strong decline from $1,143 down to $843.
It then reached a low and has consolidated around forming a Triple Bottom.
The price has broken above the downtrend along with the neckline of the pattern.
This means, we are ina bull market.
But hold up. There are two ways this can go.
EIther the market continues to consolidate and move sideways which will be a drag holding onto platinum longs. Or the bulls will do what they can to push up and take us to the target.
With the Santa Claus Rally on the way and the positive sentiment reverberating world-side, I can only hope for the latter.
My first target will be $1,094.00.
PL LONGtrade logPL 976.5: I suggested we sell PL, eventually it went down to 955, see my Ideas to verify.
There was a complex ABCDE UP wave correction up Monday June 10th
we were long all day but sold the close @ R6. We rode it down to
958.6 and went long where you see the first buy. Please feel free to verify my posts. ;p
All I have been doing it using my brokers platform ThinkOrSwin to trade on alone with fewer talking.
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-- I BUY if price has reached my Keltner and bollinger band channels low.
-- I SELL if price has reached my Keltner and bollinger band channels high.
I made $1500 today. PL is volatile to the extreme, with huge margin, trade it carefully, it's not the ES!
I'm long ATM since the buy signals left behind from my trace calls.
If I can I will do a presentation soon.
PL buy outside Pivot Point rangeI showed 6 months of trades and channelged people to find a day that closed outside the PP range. usually efore the market closes if we are below S6 we rally back up into the range. If we are above R6 we fall down back into the range.
This is a high probability trade, especially if you measure how far we fell, from 1,100 to 972, there is a lot of ground to retest.
EWT says PL platinum is about to rumbleThe next wave will likely be a wave 5 up. Current PT 1133
That selloff was paper Selling, I hope everyone used stop losses.
However now we are here near the bottom of wave 4. just above S5, a powerfull buying level.
I don't know exactly when the selling ends but right now there are the potential buy levels.
Advice on trading Platinum PLPL is very volatile, by comparison with NQ it makes the NASDAQ look a little tame. Today I called for VWAP and we reached it, 1016.10 Then I called for long term support at 1022.4 we reached 1020. BUT beware a fast selloff.
Right now we are cimbing up from 1008, at 1012.20. I think we can easily get back up to VWAP and long term suipport.
Be sure you use a trailing stop loss to lock in profits! Don't let them take your hard earned profits.
PLatinum LONGWe ae at major support, a recent TOP wave 1 in blue.
This is a counter trend corrective wave 4. When the trend returns I expect a wave 5 up. Long complex, trend based... The longest wave often.
Mucho profit, more later will b e added
I have made many good and profitable calls to go long on PL in the please review then if you are unsure.
In Platinum, Triangle formed. 1st Target 1882, 2nd Target 2763.Triangle Pattern formed in Platinum Future, wait for the Breakout. Because Breakout is the Confirmation market move to the Bullish Trend. And 1st Target price is 1882, 2nd Target price 2763.
This is for Long Term Analysis.
I want to help people to Make Profit all over the World.
Platinum last line in the sand#platinum reversing at first touch of a 16 year downtrend line. I didn't see it until today, so now I know that this is the prevailing breakout line on the weekly chart.
I've drawn a small projection just to better illustrate where I think next resist/supports are, and not for timing.
Platinum Supply Gap Widens: Johnson Matthey Report AnalysisJohnson Matthey's latest report on the platinum market reveals an impending supply deficit not seen in a decade, despite some expected declines in vehicle production. The shortfall, exceeding 600,000 ounces, is driven by sustained demand across industries like automotive and industrial applications, particularly in China.
Key Points:
- **Supply Shortfall**: The report predicts a substantial deficit in platinum supply due to maintenance issues in South African smelters and lower scrap stream volumes from end-of-life vehicles.
- **Strong Demand**: Surprisingly, the automotive sector saw an 8% increase in platinum demand in 2023, mainly due to the slower-than-expected adoption of electric vehicles (EVs). Industrial applications in China also contributed to sustained demand.
- **Price Implications**: Despite the supply-demand imbalance, platinum prices have remained relatively subdued, suggesting market complexities beyond simple supply constraints.
Looking Ahead:
The report warns of potential disruptions in South Africa, a crucial platinum producer, and uncertainties around EV adoption rates as key risks to watch. Nevertheless, the persistent supply deficit is expected to define the platinum market's near-term trajectory.
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Platinum: Examining Resistance Retests and Seasonal BehaviorThe recent movement in Platinum futures has seen a notable retest of the upper boundary of the range, coinciding with a resistance zone commonly referred to as "Supply." Our analytical approach begins at this critical juncture, where we factor in various elements, including the seasonal behavior observed in this precious metal over the past decade and a half.
A meticulous examination of historical data reveals a consistent pattern wherein Platinum experiences a significant decline in value from May through July. This seasonal trend, observed over the course of the last 10 to 15 years, underscores the likelihood of a continued downturn in Platinum's value during this period.
In light of this compelling historical precedent, we are inclined to anticipate a continuation of this seasonal pattern in the current market environment. Consequently, our focus is squarely on identifying and capitalizing on potential bearish opportunities. Specifically, we are actively seeking a setup that anticipates a local retest of the aforementioned resistance zone, which could serve as a catalyst for a reversal in price direction.
By aligning our analysis with both technical and seasonal considerations, we aim to position ourselves strategically to navigate the evolving dynamics of the Platinum futures market.
Platinum looks like its getting ready for a big movePL is looking primed to start the move towards new ATH. We have put in a Re-Accumulation on the weekly and are currently in the BU/LPS phase, during which we have also put in a LTF Accumulation on the Daily. I'll be looking to get involved this week long wherever I can find a low risk entry. 1st Target I'll be looking for is 1031.1
After that next targets are ~1350, 1750, 1920, and finally 2308.8
PLatinum shaping up for a ton of upside to $1,132 tech and fundsBox Formation and W Formation is showing on the Daily chart of PLatinum.
We do need the price to close above the neckline of both patterns to really confirm upside to come.
So far the MAs are also confirming a bullish inclination along with the rising uptrend.
Price >20 and crossing 200MA
Bullish bias
Target $1,132
Let's drill into the fundamentals for the rising PLatinum price
One of the significant reasons for the price increase is the deepening supply deficit that was observed in 2023, which is expected to continue into 2024.
The World Platinum Investment Council (WPIC) had revised its expectations for the platinum deficit in 2023 to nearly twice its initial estimate, highlighting a considerable shortfall in supply against demand (INN).
This deficit is largely due to decreased supply, with production challenges in major platinum-producing countries like South Africa, where mines have faced electricity issues leading to production deficits.
Despite some improvements in production, the overall global output of platinum decreased year-on-year, while demand, particularly from the automotive sector and for investment purposes, has seen a notable increase (INN).
Also, the demand for platinum in the production of green hydrogen, which uses platinum-group metals (PGMs) as catalysts, is also contributing to the increased demand.
The green hydrogen sector, which focuses on producing hydrogen from renewable sources, has seen significant investment, further boosting platinum demand (INN).
The auto sector, a major consumer of platinum due to its use in catalytic converters, has begun to return to pre-pandemic production levels, further straining the available platinum supply (INN).
And investment demand for platinum is expected to rise, with projections indicating an increase in platinum bar and coin demand to a three-year high, as manufacturers in North America and Europe allocate more capacity to platinum due to weaker demand for gold and silver (The future of trading).
All giving great buying signs for the precious metal.
Over Night Platinum Futures Position Initiated a trade yesterday evening, albeit slightly delayed, upon recognizing an upward continuation trend. Confirmation from both MACD and STOCH indicators. Employed a 35 TICK stop loss and a 178 TICK take profit. Closed the position this morning at 9:30 AM. Best wishes to all fellow traders!
Entry: 919.0
Stop Loss: 915.5
Take Profit: 936.8
Platinum: Not yet done 📉We currently locate the platinum price in the green wave (b). As soon as this low has been placed little further down the chart, we expect another major detour with green waves X and Y before we can consider the important low of the blue wave (b) to be completed. Please note our alternative: If the price falls directly below the support at $843.10 (40% likely), we assume that the alternative wave alt. (b) will be completed directly.
Platinum Represents Big Value and Upside in MetalsPlatinum has been one of the worst performing metals. However, it presents a compelling opportunity for upside should the Fed ultimately deliver rate cuts. Based on daily fibonacci patterns, it is holding support at the 61.8% percent lines. And, it is holding weekly, daily, and hourly support. Today, Monday, Feb 5th, does present a unique opportunity to get in long at these lows and ride up a wave to much high level. PLJ5 is currently trading at 883.4 . . . Buy now, with a SL at 870 and a move that could go as high as 1000 within the next month.
Platinum. Insider activityA curious spread has opened on Platinum with a volume of 1000 contracts. If you are familiar with the subject, you will realize that an Insider has entered the market. Such deals only appear once or twice a year. Don't miss it!
Spread Expiration - Oct 18, 2024.
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