Platinum wave fifthPlatinum coin came for completion of wave fifth now it has shown divergence on rsi signalling for wave five
PLATINUM trade ideas
Good fortuneXPTUSD broke the descending trending line and retest as well.
now the current structure is a Swing, and even trend reversal is done.
At daily there is a inverted H&S pattern, the red mark is the target of inverted H&S.
Monthly structure Target : 1473(43000 pips)
Daily structure Target : 1143(10000 pips)
PLATINUM 4 HOUR ANALYSIS🎆hello traders
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Platinum Update: Profit=128513 SL=19901 Reward/Risk > 6.5:1 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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There is possibility for the beginning of an up trend in XPTUSDTrading suggestion:
. There is a possibility of temporary retracement to suggested support line (797.31). if so, traders can set orders based on Price Action and expect to reach short-term targets.
Technical analysis:
. Platinum/USDollar is in a range bound and the beginning of uptrend is expected.
. The ascending flag taking shape suggests we will soon see another leg higher.
. Price is above WEMA21, if price drops more, this line can act as dynamic support against more losses.
. Relative strength index ( RSI ) is 50.
Take Profits:
TP1= @ 837.90
TP2= @ 863.15
TP3= @ 894.75
TP4= @ 957.25
TP5= @ 1029.55
TP6= @ 1089.20
TP7= @ 1194.50
❤️ If you find this helpful and want more FREE forecasts in TradingView
. . . . . Please show your support back,
. . . . . . . . Hit the 👍 LIKE button,
. . . . . . . . . . . Drop some feedback below in the comment!
❤️ Your Support is very much 🙏 appreciated! ❤️
💎 Want us to help you become a better Forex trader ?
Now, It's your turn !
Be sure to leave a comment let us know how do you see this opportunity and forecast.
Trade well, ❤️
ForecastCity English Support Team ❤️
The price continues to riseOn the XPTUSD: D1 daily time frame the resistance line has crossed the downtrend. Various technical analysis indicators generated an uptrend. Additional supply growth can be achieved in the event of increased demand for precious metals.
