1) Chart & context
The hourly chart suggests Platinum is approaching a sell-side opportunity, but I’m not looking to short immediately — I’m watching for the correction to mature first. 🕒
2) Structure (Elliott Wave read)
• We can see a clear 5-wave decline from ~2923 to ~1816.
• After a completed 5-wave move, the market typically prints at least a 3-wave corrective bounce (A-B-C) before the next bearish leg resumes.
➡️ My base case: we’re currently inside that upward correction.
3) Fibonacci / correction depth
So far, the bounce looks shallow relative to the full drop (2923 → 1816).
We haven’t meaningfully reached the 38.2% retracement yet — not a rule, but a common pattern that often appears in corrective bounces.
4) What I’m watching next 🎯
I expect the correction to continue toward:
• Minimum: the end of the prior wave 4 area ~2327
• Optimal sell zone: 50%–61.8% retracement ~2368–2500
5) Trade plan (scenario)
Primary idea: Wait for price to reach 2327 → 2368–2500, then look for rejection / reversal structure to consider shorts.
Entry approach (practical):
• ✅ Aggressive: short on clear rejection in 2368–2500
• ✅ Conservative: short only after a rejection + bearish confirmation (break of the local swing structure on 1H)
Stop idea:
• Safer stop above the correction high (or above 2500, depending on your risk model).
• Full invalidation is a sustained break back into the higher structure (see below).
6) Targets
• 🎯 Main target: 1270
7) Invalidation ❌
This bearish scenario weakens if the correction expands and holds above the correction zone (especially above 2500). A full structural invalidation would be a sustained reclaim of the prior top zone near 2923.
8) Risk note ⚠️
This is a scenario, not a signal. Position size and risk limits come first.
⸻
If this idea was useful, please boost/like 👍 and follow for more structured wave + cycle setups.
The hourly chart suggests Platinum is approaching a sell-side opportunity, but I’m not looking to short immediately — I’m watching for the correction to mature first. 🕒
2) Structure (Elliott Wave read)
• We can see a clear 5-wave decline from ~2923 to ~1816.
• After a completed 5-wave move, the market typically prints at least a 3-wave corrective bounce (A-B-C) before the next bearish leg resumes.
➡️ My base case: we’re currently inside that upward correction.
3) Fibonacci / correction depth
So far, the bounce looks shallow relative to the full drop (2923 → 1816).
We haven’t meaningfully reached the 38.2% retracement yet — not a rule, but a common pattern that often appears in corrective bounces.
4) What I’m watching next 🎯
I expect the correction to continue toward:
• Minimum: the end of the prior wave 4 area ~2327
• Optimal sell zone: 50%–61.8% retracement ~2368–2500
5) Trade plan (scenario)
Primary idea: Wait for price to reach 2327 → 2368–2500, then look for rejection / reversal structure to consider shorts.
Entry approach (practical):
• ✅ Aggressive: short on clear rejection in 2368–2500
• ✅ Conservative: short only after a rejection + bearish confirmation (break of the local swing structure on 1H)
Stop idea:
• Safer stop above the correction high (or above 2500, depending on your risk model).
• Full invalidation is a sustained break back into the higher structure (see below).
6) Targets
• 🎯 Main target: 1270
7) Invalidation ❌
This bearish scenario weakens if the correction expands and holds above the correction zone (especially above 2500). A full structural invalidation would be a sustained reclaim of the prior top zone near 2923.
8) Risk note ⚠️
This is a scenario, not a signal. Position size and risk limits come first.
⸻
If this idea was useful, please boost/like 👍 and follow for more structured wave + cycle setups.
📊Want more market insights & ready-made setups?
→ Join our free Telegram: t.me/patternsoncapital_public
→ Join our free Telegram: t.me/patternsoncapital_public
คำจำกัดสิทธิ์ความรับผิดชอบ
ข้อมูลและบทความไม่ได้มีวัตถุประสงค์เพื่อก่อให้เกิดกิจกรรมทางการเงิน, การลงทุน, การซื้อขาย, ข้อเสนอแนะ หรือคำแนะนำประเภทอื่น ๆ ที่ให้หรือรับรองโดย TradingView อ่านเพิ่มเติมใน ข้อกำหนดการใช้งาน
📊Want more market insights & ready-made setups?
→ Join our free Telegram: t.me/patternsoncapital_public
→ Join our free Telegram: t.me/patternsoncapital_public
คำจำกัดสิทธิ์ความรับผิดชอบ
ข้อมูลและบทความไม่ได้มีวัตถุประสงค์เพื่อก่อให้เกิดกิจกรรมทางการเงิน, การลงทุน, การซื้อขาย, ข้อเสนอแนะ หรือคำแนะนำประเภทอื่น ๆ ที่ให้หรือรับรองโดย TradingView อ่านเพิ่มเติมใน ข้อกำหนดการใช้งาน