Platinum (PL): Wave Analysis 1917-2022●● Preferred count
● Platinum Cash (PL.C), 🕐TF: 20D
Fif.1
The counting of long-term waves only confirmed the priority of the scenario defined in the previous review, in the context of which the supercycly wave (V) unfolds the ending diagonal . This hypothesis assumes the continuation of price growth within wave III , which will take the form of a zigzag, exceeding the maximum of wave I .
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● Platinum Futures (NYMEX) , 🕐TF: 1D
Fif.2
The wave Ⓐ in the composition of III of (V) must also take the form of a diagonal . At least, the double zigzag that formed from the top of wave II can be interpreted in a general context as the first wave in its composition.
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● Platinum Futures (NYMEX) , 🕐TF: 8h
Fif.3
According to the structure, the second wave of intermediate degree can be identified as a double zigzag W-X-Y with a combination in X . Moreover, wave (2) reached a level that created several Fibonacci ratios: wave Y = 61.8% W , while (2) = 61.8% (1) . Quite powerful the argument in favor of the fact that the downward correction is over. The breakdown of the 0-X line will serve as an additional signal in favor of this assumption.
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●● Alternative count
● Platinum Futures (NYMEX) , 🕐TF: 8h
Fif.4
The alternative markup tells us that the correction within wave (2) will continue. A series of overlapping zigzags in a downtrend can be identified as the leading diagonal in wave A . If this interpretation turns out to be correct, then after correction in wave B , the minimum of 797.5 formed by wave A will be rearranged within the impulse C .
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