Platinum 1D 23.09.2024
1. Platinum is for months in symetrical triangle pattern (red)
There was one atempt of getting out of the pattern but the price got back to the old trend (dashed red)
2. There are 2 support zones in blue. As the lower one is below the red line i am expecting that price will respect the upper blue support zone
3.The price currently broke the upper trendline and is getting closer to the blue support zone
4. There is also a lower thick trendline from which the price broke couple days ago - also expecting the price to get back to this trendline and use it a a support
5. the blue channel is being slowly created
Entry: The yellow rectangle is my enty zone
TP: TP i am setting at the intersection of ted trendline and blue channel - also the price has a round number 1050
SL: SL I am setting under the red trendline and resistance zone (the resistance zone coould be even bigger but I want to minimalise the loss, so at the moment when the red trendline will not be respected, after giving some small margin below, I am willling to close the postition
There was one atempt of getting out of the pattern but the price got back to the old trend (dashed red)
2. There are 2 support zones in blue. As the lower one is below the red line i am expecting that price will respect the upper blue support zone
3.The price currently broke the upper trendline and is getting closer to the blue support zone
4. There is also a lower thick trendline from which the price broke couple days ago - also expecting the price to get back to this trendline and use it a a support
5. the blue channel is being slowly created
Entry: The yellow rectangle is my enty zone
TP: TP i am setting at the intersection of ted trendline and blue channel - also the price has a round number 1050
SL: SL I am setting under the red trendline and resistance zone (the resistance zone coould be even bigger but I want to minimalise the loss, so at the moment when the red trendline will not be respected, after giving some small margin below, I am willling to close the postition
Comentarios
A the beginning of the week i corrected the downtrend gray line to go through the second wick of the downtrend (yellow circle) and not third and realized that the price was close to it. At that moment I took a smaller position, so I am in the trade currently.
TP: My take profit stays the same as at least on $1050 or higher when the price will touch the downtrend red line.
SL: My stoploss now is set at the moment when the 1D candle will close below gray uptrend line.
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