Platinum Wow Bargain
- Thread starter Needless Promo
- Start date
It's not because something is low that it's cheap.
Here's your chart zoomed out over a few years, would you still be a buyer ?
Here's your chart zoomed out over a few years, would you still be a buyer ?
CannonTrading_Ilan
Sponsor
Absolutely correct....Two charts below, much longer term monthly chart and daily chart:
Nothing really "clear" about platinum or the other precious metals. Could be this bounce since January is actually a "bear market counter". (?) I wouldn't get too hopped up about BTFD at this juncture.
I understand the appeal and potential for "getting a resource trade right". But (late) chasing energy and metals can be most painful if wrong.
Remember when NatGas was trading @ $22/mcf.. then dropped to ~$1.60? Lots of chances to BTFD... all of which wrong until the final low.
Suggest trading with caution*, if at all. IOW... Platinum is not a "no-brainer" here.... should save firepower for when it appears to be thus.
* in case this time has actually been a "bounce on the way down", be diligent with your stops
I understand the appeal and potential for "getting a resource trade right". But (late) chasing energy and metals can be most painful if wrong.
Remember when NatGas was trading @ $22/mcf.. then dropped to ~$1.60? Lots of chances to BTFD... all of which wrong until the final low.
Suggest trading with caution*, if at all. IOW... Platinum is not a "no-brainer" here.... should save firepower for when it appears to be thus.
* in case this time has actually been a "bounce on the way down", be diligent with your stops
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Are future prices ever "clear"?
One thing was clear. We had some determined buyers in there today.
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And it's up.
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If you're going for the quick swing trade, then platinum would have been a great buy these past few days.
Market went up so we had buyers ? ..........
Or are you trying to say anything useful ?