Tuesday, October 6, 2009

Alert: Platinum long

I wrote about this new platinum long alert this morning and wrote:
You can take the following position: platinum long. stop loss around 1200 or lower to be more on the safe side. I will add the chart later. Current price 1299

When you can make use of a turbo, please take the turbo with leverage 5 or 9.
This morning I just wanted to get the trade out fast. I saw yesterday that platinum seemed to be turning back up and waited till today to be sure. Well I'm back and here is the chart that I promised.

We can see that:
  • MACD is almost making a cross over. The blue line getting on top of the red line. 
  • the current price is above the moving averages of 10, 50 and 200 days. 
  • the daily trend is back up. 
We closed the previous position on platinum just around the top and will try that also this time. Gold today is making an all time high and also silver is doing extremely well. So you better have a look at some silver trades (mines) also.

As I said this morning you can kick in a platinum long. For the traders who can trade Turbos please take the platinum long stop loss 1205. This has a leverage around 9.

The current price is 1312 so a profit of 1% without, or 9% with the leverage.

If you are not familiar with trading Turbos I will write an article about it, and maybe you will like it more than trading ETFs.

1 comment:

  1. The new trade worked out fine, prices rapidly climbed to 1,336$ and then fell back to 1,313$.

    With the Turbo you could have locked in a profit between 15% and 20% if you exited the trade.

    A previous bottom was around 1,312$ on the 6th of October and it bounced neatly back up.

    Current price is 1,323$.

    The MACD is just crossing over and is at RSI 61.41, so still not overbought.

    The trend still is up, hopefully it will go over 1,336$.