A beginner-friendly tool for drawing trendlines on platinum (and other markets), planning entries and exits, and getting an alert when price actually does what you expected.
If you've watched Tori Trades or similar swing traders, you've heard these terms. Here they are in plain English.
A straight line drawn between two or more swing lows (in an uptrend) or two or more swing highs (in a downtrend). It represents the path the market is currently respecting.
How to spot it: price keeps bouncing off the line without breaking it. The more times it bounces, the more important the line.
The price level where, if crossed, the trendline is officially broken and the trade idea triggers. This is your "if this happens, I act" line.
Example: A descending trendline crosses today at $980. If platinum closes above $980, the downtrend is broken — that's the action.
The price level where you accept the trade was wrong and exit. Usually placed just beyond the most recent swing low (for longs) or swing high (for shorts).
Why it matters: without a safety line, one bad trade can erase ten good ones. This is the single most important number in any setup.
Where you actually buy or sell. Two common styles: break entry (enter the moment the action line is crossed) or retest entry (wait for price to come back and touch the broken trendline, then enter).
Beginner tip: retest entries are safer — you get confirmation, but you sometimes miss the move. Break entries are faster but get faked out more.
The ratio of how much you'd lose if stopped out vs. how much you'd gain at your target. A 1:3 setup means risking $1 to potentially make $3.
Rule of thumb: only take trades where R:R is at least 1:2. The chart page calculates this automatically once you set entry, safety, and target.
Platinum (ticker PL=F on Yahoo) is a useful swing-trading vehicle: it has clear technical patterns, decent daily ranges, and isn't as crowded as gold or oil. The site is built around platinum first but the watchlist is generic — you can add gold, silver, or any Yahoo ticker.