Platinum uptrend opportunity based On 1.00 Lot Calculation:
- Platinum prices have been rising for weeks as realizations of new and increased uses for the white metal, as well as a relatively small stockpile. Attention to new developments in fuel cell technology boosted demand for platinum as a critical component to fuel cell manufacturing and operations.
- Fuel cells can utilize platinum as a catalyst to convert the energy in hydrogen (the most abundant element on earth) into electricity used to power satellites, electric cars, buses, and trains.
- Platinum can also be used to separate water (hydrogen and oxygen) into its two components providing a hydrogen fuel containing no carbon. Germany and other European nations are entering into a renewable “Green” hydrogen economy while other nations are stripping hydrogen from fossil fuels creating “blue hydrogen,” also new to our energy mix.
Platinum, January 04, 2021
Current Price: 1,111.60
PLATINUM |
Weekly |
Trend direction |
|
1,190.80 |
|
1,171.80 |
|
1,153.10 |
|
1,075.10 |
|
1,059.10 |
|
1,043.00 |
Example of calculation base on weekly trend direction for 1.00 Lot*
PLATINUM |
||||||
Pivot Points |
||||||
Profit or loss in $ |
7,920.00 |
6,020.00 |
4,150.00 |
-3,650.00 |
-5,250.00 |
-6,860.00 |
Profit or loss in €** |
6,457.66 |
4,908.48 |
3,383.75 |
-2,976.07 |
-4,280.65 |
-5,593.38 |
Profit or loss in £** |
5,785.71 |
4,397.72 |
3,031.65 |
-2,666.39 |
-3,835.22 |
-5,011.36 |
Profit or loss in C$** |
10,053.96 |
7,642.03 |
5,268.18 |
-4,633.46 |
-6,664.56 |
-8,708.36 |
* 1.00 lot is equivalent of 100 units
** Calculations for exchange rate used as of 09:15 (GMT) 04/01/2021
Fortrade recommends the use of Stop-Loss and Take-Profit, please speak to your Client Manager regarding their use.
*** You may wish to consider closing your position in profit, even if it is lower than suggested one
**** Trailing stop technique can protect the profit – Ask your Client Manager for more detail