Platinum broke out of its bottom formation.
It launched from its bottom out of the apex.
Smaller patters that lead to a break out into larger patterns are the best trades in my experience.
I went long at 909.5. Stop is at 867. Target is 1000.
I have two comments on this trade.
First, emotions play a very important part in trading. I can not emphasis this enough. Last year I lost a lot of money on platinum. The sign of a novice trader is the feeling that a market owes them. One of my trading rules is this: No given market owes me anything. This point cost me a lot of money when I first started. Before I took this trade, I reflected on this point.
Second, I do fundamental analysis. I look at supply and demand. However, my trading plan is technical. In other words, my plan does not rely on fundamental analysis. I have a bullish bias with platinum. I think it is forming a generational low and will start a bull market. I have detailed my view on the fundamentals of platinum at this site. See here. There is always the risk that fundamental analysis will corrupt your trading plan.
My goal is to trade my plan. The platinum trade fits ever one of my trading rules. I can not control what happens after I execute my plan.