ForecastCity_ME

Platinum Update: Profit=128513 SL=19901 Reward/Risk > 6.5:1

Long
FX_IDC:XPTUSD   Platinum / U.S. Dollar
Trade Setup summary:
Profit targets=128513 pip (4059 + 6584 + 9744 + 15994 + 23224 + 29189 + 39719)
Stop Loss =19901 pip
Reward/Risk > 6.5: 1

Current Status:

Total Profit: 122387 pip
Closed trade(s): 20387 pip Profit
Open trade(s): 51000 pip Profit

Trade Setup:
We opened 7 BUY trade(s) @ 805.00 based on 'previous Forecast' at 2020.07.06 :

Closed Profit:
TP1 @ 837.90 touched at 2020.07.06 with 4059 pip Profit.
TP2 @ 863.15 touched at 2020.07.21 with 6584 pip Profit.
TP3 @ 894.75 touched at 2020.07.22 with 9744 pip Profit.
4059 + 6584 + 9744 = 20387

Open Profit:
Profit for one trade is 907.00(current price) - 805.00(open price) = 10200 pip
4 trade(s) still open, therefore total profit for open trade(s) is 10200 x 4 = 51000 pip
Break-Even 805.00

Technical analysis:
. Platinum is in a range bound and the beginning of uptrend is expected.
. The price is below the 21-Day WEMA which acts as a dynamic resistance.
. The RSI is at 70 .

Trading suggestion:
. There is still a possibility of temporary retracement to suggested support line (863.15) again. if so, traders can set orders based on Price Action and expect to reach short-term targets.

Take Profits:
TP4= @ 957.25
TP5= @ 1029.55
TP6= @ 1089.20
TP7= @ 1194.50

SL= Break below S2

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Comments

Great analysis buddy
+1 Reply
@Sir_Ray, Thanks 😊
Reply
Very nice analysis
+1 Reply
@Kristalyn, Thanks
Reply
Great analysis, keep up the great work!
+1 Reply
ForecastCity_ME Josef_anderson
@Josef_anderson, We appreciate your comment
Reply
Nice analysis as usual
+1 Reply
ForecastCity_ME sara-kian-fx
@sara-kian-fx, Thanks
Reply
Nice idea.
+1 Reply
ForecastCity_ME Mehmetozdemi
@Mehmetozdemi, Thank you for your comment. It is appreciated.
+1 Reply
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