Get started
Platinum FuturesPlatinum FuturesPlatinum Futures

Platinum Futures

No trades
See on Supercharts
Overview News
Ideas
Discussions Technicals Forward curve Seasonals Contracts Options

PL1! trade ideas

Platinum - Head over ShouldersDear Community, today we have a quite interesting setup concerning Platinum. It is actually more a possible- than an expected setup but still worth mentioning. As you can see in the chart we are expecting the formation of a SHOULDER - HEAD - SHOULDER formation, highlighted in red semi-circles. If this scenario kicks in, we could easily dip deep into the intermediate target zone at around $960. However, there is a very good chance that, if all clicks into place, it will fall through the intermediate zone, following our optimal scenario and therefore primary target ay $811. If you follow us on our premium analysis you will know that we have opened a short position a few days back, aiming for the intermediate and hopefully the primary target. It looks good so far but we need to keep an eye on it for sure. Good luck.
NYMEX:PL1!Short
by RedHotCandlestick
PL1! daily TAThere is a possible EW count for this pair on the chart. If the view in this chart holds true in its entirety, which I think is not very likely, because the lack of a Fib ratio relationship between the waves makes it imperfect, and therefore open to failure, the LMLH will be broken by the W4, which will then visit it again around 23 March 2016. One may wish to wait until that day, or trade it as it breaks the LMLH to the downside, keeping targets tight. If the price leaves its final micro trend before reaching the TL, a short trade is again possible.
NYMEX:PL1!
by Csys
PL1! weekly TAThe monthly look warned us about an imminent reversal, but I have no interest in getting into the train too early. The price has not yet reached the ML. And notice I choose my anchor placed between P1 and P2 of the pitchfork for a better fit, rendering the UMLH as the action line. Thus, I am waiting for a continued bearish action. The final arbiter will be the price behavior at the UMLH. On the other hand, the price may fall down without even reaching the UMLH, in which case the short trades should be led by a lower time frame analysis.
NYMEX:PL1!
by Csys
PL1! monthly TAI would love to be on the long side of the market for this precious metal after the green TL is broken. The price is headed to test the old lows, and I am suspicious if we will hit the horizontal red line or not. In any case, it seems we will test the green TL in the immediate future. If it's broken, it will mean the correction starts, and it may most probably last until a retest of LWL3. As an alternative scenario, the green TL may be broken with some lesser strength; price sticks to LWL4 and then brake it. One could find signals and indications about which scenario will come true by looking at the behavior of the market at the breakout level. But what would be most ascertaining for the bulls, as the third scenario, is the price continuing to decline without touching the greed TL. Then it would be frightening to go long, but of the most assured at the same time.
NYMEX:PL1!
by Csys