The analysis above builds a case for justifying a developing bottom in platinum prices. Based on its price history, platinum prices are likely to breakout in 2020.
Note
Looking at the shorter time frame - Applying long term moving averages -
Last, we never know how a market gets *there*. No matter how confident we are in the idea. We may take a guess based on our logical interpretation of price action, but we will often be wrong about the trajectory. How a market trades through its price journey is largely random. This makes managing a trade complicated when paying too much attention to short term price action on a long term trade. For some perspective, here are some possibilities I drew. These are just my guesses based on the market structure. *They do not help in my execution*
The purpose of drawing your interpretation of possibilities (like the above) is to help you understand anything could happen in the market you are analysing. It could also help prevent over-confidence that a market is supposed to trade a certain way.
Note
New 3 year high. Expecting resistance in purple
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.