Jump to content

Platinum vs Gold


jbtrader

Recommended Posts

chartplatinum.png

 

The Platinum price has fallen 12 of the last 13 days

Gold has also fallen off the proverbial cliff since tracing out a weekly reversal (see my previous post re: Gold)

While both seem very oversold now I feel a better trade exists looking at the Gold/Platinum ratio.

 

The ratio between Gold and Platinum during this recent period has fallen sharply.

It is currently just above .81

That is it takes just over .81 of an ounce of Gold to Buy an ounce of Platinum. 

I think this is overdone and believe Platinum will close this gap from here.

As such I am Buying Platinum and selling Gold expecting this ratio will climb.

I am putting a stop at .78

 

What do you think guys?

 

Cheers,

 

JB.

Link to comment

Hi 

 

Hopefully you avoided that stop - I see gold has put in a decent rally over my session, which might be a positive. 

I can see the thinking behind your strategy, especially with gold getting a bit of a hiding recently - hope it goes well.

Link to comment
  • 2 weeks later...

Hi jb,

 

Don't let me corrupt your successful strategies/MM - but does this trade need a stop?  I can imagine that, given time, it should come good.  Easier for me to say as I guess you've done all the hard work for us, and if we get in now we'd have more room to play. 

 

I can imagine, as a sort of hedge trade, they'd stay in their current correlation until one breaks out (as you've predicted) and then things will change quickly as the correlation changes.  Hang in there anyway... 

Link to comment

The trade has certainly turned for the better in the last few days.

 

HOWEVER - Gold and Platinum both reversed to the upside on a weekly basis last week after the move we saw on friday.

 

As such I am keeping the long on Platinum but I can't stay short Gold given the technical move.

 

 

Cheers,

 

JB.

 

 

Link to comment

Archived

This topic is now archived and is closed to further replies.

  • image.png

  • Posts

    • Ready to Fight represents the first real attempt at bringing the global boxing community of over 50 million athletes, promoters, trainers, managers, and diehard fans into the world of decentralized social media and finance (SocialFi). It was founded by none other than heavyweight boxing superstar Oleksandr Usyk and blockchain entrepreneur Sergey Lapin. The native RTF token acts as the lifeblood of this intricately designed web3 social network. Stake RTF to access premium content and services. Use it to directly sponsor fighters you support or pay trainers for their time. Spend RTF on limited-edition boxing gear or merchandise drops. Thanks to the RTF listing on Bitget, crypto enthusiasts and boxing fans alike can now invest in and drive the rapidly expanding ecosystem. The low initial circulating supply and market cap suggests a massive upside for this first-of-its-kind SocialFi platform serving the boxing world.
    • Pepe Coin's surge, driven by significant whale accumulation, has propelled it to the third-largest meme coin position. With strategic buying, the investor has already seen substantial profits, sparking bullish sentiment in the broader meme coin sector.
    • Rallies in FTSE 100, DAX 40 and Dow have further to go Outlook on FTSE 100, DAX 40 and Dow as investors pile back in to global stock markets. Source: Getty Images Written by: Axel Rudolph FSTA | Senior Financial Analyst, London   Publication date: Wednesday 24 April 2024 13:48 FTSE 100 hits yet another record high A weaker pound sterling and foreign investor buying of the undervalued UK blue chip index propelled the FTSE 100 to a record high on Monday. The pound sterling bouncing back following hawkish comments by BoE chief economist Huw Pill has not put a spanner in the works with the FTSE 100 hitting yet another record high and remaining on track for its fourth straight day of gains. Minor support sits between the early-to-mid-April highs at 8,046 to 8,017. Medium-term the 161.8% Fibonacci extension of the March-to-June 2020 advance, projected higher from the October 2020 low, around the 8300 mark represents a possible upside target. Source: ProRealTime DAX 40 regains lost ground The DAX 40’s strong rally off last week’s 17,400 low has gained traction and is trying to overcome last week’s high at 18,195. If overcome on a daily chart closing basis, the 8 April high at 18,329 will be in focus, together with the 4 April high at 18,429. Minor support can be spotted around the 5 April low at 18,085 and around the psychological 18,000 level. Source: ProRealTime Dow sees strong three straight day rally Since last week the Dow Jones Industrial Average regained lost ground and has risen by around 3% with the 55-day simple moving average (SMA) at 38,783 representing the next upside target, together with the 10 April high at 39,029. Potential slips may find support around the 38,452 March low and further down, around the late February 38,336 low. Source: ProRealTime
×
×
  • Create New...
us