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Platinum Futures Prediction for September 2019


Greetings! My focus was on platinum futures. A precious metal used in jewelry and industry.

I do not understand very well the fundamental reason for the rise in the value of this metal, but since August prices have risen from 800 to 1000 (at the peak), now it is trading at $ 945. Here is the graph:

Gold and silver are growing at the same rate; for some reason, investors are now paying attention to them. Well, ok, it’s good that there is a trend.

The resistance line is currently breaking through:

It seems to me that this is a good opportunity to enter the current trend with a small stop. As a goal, I see the recent maximum, that is, $ 1000.

The risk in the transaction is not more than 1%. Buy at $ 945.6, stop $ 937.8. On the graph, it looks like this:

Update

Friday did not bring positive results, the price broke the stop level:

Unfortunately, there was nothing to be done, even breakeven could not be set, since the plus movement was insignificant.

Result -1%.

Perhaps I will go again when moving up, I continue to watch. The pattern is not broken yet.

Update

The pattern continues its life, it was a little wrong with the stop for the first time. Now it is possible to log in again:

Update

There is an upward movement that allows you to set a breakeven:

I don’t want to lose a second time on the same pattern, so I secured myself at the first opportunity! 🙂

Update

Unfortunately, the second entry did not bring profit – breakeven worked:

The overall result does not change. I will not enter into this pattern anymore, I am not rushing with stops! 🙂

Not an investment recommendation. The author is not an investment advisor.

Author: Ivan Mochalov.

Criticism, thanks and questions in the comments are welcome! :))

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