Platinum Does it Again: Heads Up for the 4th Straight Day

The Daily View for Platinum

  • Currently, XPTUSD’s price is up $0.69 (0.07%) from the day prior.
  • It’s been a feast for bulls operating on the daily timeframe, as Platinum has now gone up 4 of the past 5 days.
  • Regarding the trend, note that the strongest trend exists on the 20 day timeframe.
  • Price action traders may also wish to note that we see some doji and pin bar candlestick patterns on Platinum. Given that we see downtrend on the 20 daily candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting.
  • The moving averages on the daily timeframe suggest a choppiness in price, as the 20, 50, 100 and 200 are all in a mixed alignment — meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound traders.
  • Divergence between XPTUSD’s price and its RSI may be manifesting. As such, be on the lookout for trend reversal in XPTUSD’s price.

Below is a daily price chart of Platinum.

XPTUSD

Featured Platinum Idea From TradingView

Below is a trading comment entitled MrRenev portfolio exposed you may find interesting:

Here is my current short term portfolio. This might give the reader an idea of how a moderately diversified short term portfolio might look. I use various tools (including turbos, options…) so it’s hard to say how much I have in, but I know how much of original risk I got. Which is today €500. I added my little XRP bag from earlier this year to my crypto holdings to get to exactly 500.It makes more sense to build a PF looking at risk rather than the size that doesn’t mean anything by itself. Of course I have some winners and I have trailed my stop so this is why I precise “original” risk, that’s the risk when I opened the position.The whole thing is maybe €40,000 with €25,000-€30,000 in Forex which would make it around 70% but it is less volatile, in “risk” terms it’s actually 30%. Entry stops are tight (for example 0.50% with FX, 2% with S&P, 1% with commodities depends). I am sure I have 25 to 30K in FX, it’s the rest that is hard to evaluate.Here is the detail:30% – Forex: 2 longs on the Yen, 2 shorts on AUD, and short USDZAR.25% – Commodities: Gold, Platinum, Natural Gas. All long.23% – Indices: All in the S&P500 long, pyramided in since April.12% – Crypto: Mostly Bitcoin. And a bit of XRP (it’s less than 6 month old).10% – Stocks: Pfizer & Moderna.I also have a few stocks & cryptos that I hold long term and have not listed here. And cash in the bank. And physical goods in my house. I even have stamps and a few old coins. I don’t check on it every day, or week, or month, or year, but I really don’t care about the long term stuff, I am focussed on the long term. Looks like I have found a perfect trick to not worry.I am not “ultra” diversified, but some billionaires have hinted that diversification may be for idiots. If you saw Ray Dalio present his “holy grail” you know that (roughly) you get a huge improvement in risk adjusted returns going from 1 to 5 (good) positions, a little more improvement going from 5 to 10, and it basically flatlines past 10 positions no matter how much you add. This is universally true, I’m sure it can be proven by a mathematician and the limit of growth will be Euler’s number 2.718 (like maybe the stdev can only be improved 2.718X?), no matter how many uncorrelated positions are added. The reasons for having dozens of positions is either you’re such a whale you have to, or you’re trying to attract clients and plenty of positions makes you look pro and justifies the cost and also makes it look too complicated to do for a novice.https://www.tradingview.com/x/L4JNTBvG/My positions shown here are all short term, with:FX and Commodities and Stocks (65%) all under 2 monthsS&P500 and Crypto (35%) all…

MrRenev