Platinum - Bullish Bat
What's up guys, here's a setup I've been looking at for a while. I'm not a position trader- I don't like to hold trades for any longer than a couple of weeks max. That aside, I have saw this pattern coming for almost 2 months since the B level was broken (one could have BAMM'd it!)
Here we have a bullish bat formation on platinum. The support level where the pattern falls has not been broken since 2016, and even that was brief. Since the chart in front of us began back in 2006 price has not been below the current support level for any longer than one month. For a precious metal of which there is less than one swimming pool on earth, price seems to be pretty low. This my prove to be a reasonable level for anyone looking to hold platinum long term.
Bat Ratios
B = 0.382-0.5
C = 0.382-0.886
D = 1.618-2.618
X to D = 0.886
Here we have a bullish bat formation on platinum. The support level where the pattern falls has not been broken since 2016, and even that was brief. Since the chart in front of us began back in 2006 price has not been below the current support level for any longer than one month. For a precious metal of which there is less than one swimming pool on earth, price seems to be pretty low. This my prove to be a reasonable level for anyone looking to hold platinum long term.
Bat Ratios
B = 0.382-0.5
C = 0.382-0.886
D = 1.618-2.618
X to D = 0.886
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