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Which Is More Precious?

Published 04/11/2019, 01:38 AM
Updated 07/09/2023, 06:31 AM

An excerpt from the past weekend member report.

Gold (NYMEX)

The possibility of a massive inverted H&S pattern on the monthly graph is noted once again. The daily chart displays a small H&S top pattern. A completion of this H&S top would do some damage to the near-term bullish case.

Daily Gold

Monthly Gold

Platinum

The WBB advance on Thursday completed a 7- month ascending triangle on the daily chart. Support should exist at the 881 level. The target is 1001. The breakout of this pattern occurred during my nighttime hours and Platinum is a market in which I do not use overnight entry stops.

Factor is flat in the futures market. Instead I bought PPLT, the Platinum ETF as a means to more precisely control sizing. The target on the PPLT daily chart is 92.14.

Monthly Gold

Daily Platinum

Platinum

The WBB advance on Thursday completed a 7- month ascending triangle on the daily chart. Support should exist at the 881 level. The target is 1001. The breakout of this pattern occurred during my nighttime hours and Platinum is a market in which I do not use overnight entry stops.

Factor is flat in the futures market. Instead I bought PPLT, the Platinum ETF as a means to more precisely control sizing. The target on the PPLT daily chart is 92.14.

Latest comments

Hi Peter, do you still trade the head and shoulders failure pattern? Back in 1998 I was in an old used book store and discovered your book “Trading Commodity Futures With Classical Chart Patterns” (with the dust jacket) and purchased it for $20. Since that time, I have accumlated a small libary of rare first edition books on trading. Only 3 books are on my trading desk and that”s one of them.
Great stuff, Peter. thanks for sharing with us plebs
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