PALLADIUM - Short Term Trade
Is printing a whipsawing bearish Evening Star Candle Pattern.
This is following a bull trap failure in the retracement Golden Window (0.618 - 0.786) and also through the rising trendline.
So for a short term setup, this is an opportunity to trade with the whipsaw and high momentum.
With a stop loss at the top of the upper wicked candle and target at the red 200MA, provides a 1:1 RR trade.
This is not a high ratio and many short term traders prefer 2:1 or 3:1, but this is high probability that it gets there.
At this point it is unlikely that it can get back to the top without first testing the lows and then the 200MA is immedietly below.
It may bounce at any moment and an option would be to save some allocation for if it does bounce to increase profit, but regardless I think it will get to the target without being stopped out 👍
Not advice
This is following a bull trap failure in the retracement Golden Window (0.618 - 0.786) and also through the rising trendline.
So for a short term setup, this is an opportunity to trade with the whipsaw and high momentum.
With a stop loss at the top of the upper wicked candle and target at the red 200MA, provides a 1:1 RR trade.
This is not a high ratio and many short term traders prefer 2:1 or 3:1, but this is high probability that it gets there.
At this point it is unlikely that it can get back to the top without first testing the lows and then the 200MA is immedietly below.
It may bounce at any moment and an option would be to save some allocation for if it does bounce to increase profit, but regardless I think it will get to the target without being stopped out 👍
Not advice
Your FA guru can't read a chart💭
I run a technical group with lots of content every day + regular videos, 1:1, chatroom 🚀.
Better than all the rest? My record speaks for itself 💡.
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Contact: t.me/dRends35
I run a technical group with lots of content every day + regular videos, 1:1, chatroom 🚀.
Better than all the rest? My record speaks for itself 💡.
Telegram Group: $50 per month✨.
Contact: t.me/dRends35
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Your FA guru can't read a chart💭
I run a technical group with lots of content every day + regular videos, 1:1, chatroom 🚀.
Better than all the rest? My record speaks for itself 💡.
Telegram Group: $50 per month✨.
Contact: t.me/dRends35
I run a technical group with lots of content every day + regular videos, 1:1, chatroom 🚀.
Better than all the rest? My record speaks for itself 💡.
Telegram Group: $50 per month✨.
Contact: t.me/dRends35
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.