💰🧧 Metal OX 🐂 🏮❤️💰💰💰 ( Year for Softer Metals)This is the second part, I would recommend you watch the First part
So this is t he Year of Softer Metals and our focus will NOT be on Gold. Gold is the 'Hardest metal' for the Financial standards and has already reached all time highs last Year ( last year was also a Metal year but Yang, not Yin!)
In this video we cover:
🏮Silver which is far away from it's price in 1981 (!!!)
🏮Platinum which has been our first pick in January
🏮💰 Lithium which is the definition of a 'soft metal' and was a huge success for us in 2020
🏮 Nickel which we like to invest through an (ETN) exchanged traded note or this Australian beauty 🦘
Palladium
Platinum looking strong bullHello!
Platinum looking really bullish. We got here a beatiful higher low pattern and a vertical line which has worked as resistance.
This resistance has been tested 4 times. What I have seen usually 5th or 6th time does it.
Also RSI has already broke it's own the resistance line and used it even as a support. This gives me a strong bullish view.
Platinums demand is also getting bigger. Car makers are starting to use platinum instead of expensive palladium on exhaust systems.
If you are not holding for long term and are trading. Use stop loss.
Otherwise you will get your ass burned!
Take care
Jebu
Palladium Update: Possible upswing soon. On the previous post on 8/4/20 I also suggested an upswing soon as the ".4" point was approaching.(see link below). But after the rise there has been a stall which may be soon over. So watch for signs of reversal. If this count is correct the next upswing could be a hefty one.
I don't trade futures. Other possibilities to trade this include PPLT, and mining stock IMPUY
Zacks
Impala Platinum Holdings Limited is in the business of mining, refining and the marketing of platinum group metals, especially platinum, as well as nickel, copper and cobalt. Implats is also involved in the secondary sourcing of material through Impala Refining Services which enables it to capitalise on the group's competitive advantages in processing and refining. The group's operations on the Bushveld Complex in South Africa (Impala Platinum, Marula Platinum, the Leeuwkop project and Two Rivers) and the Great Dyke in Zimbabwe (Zimplats and Mimosa) give it a significant base of attributable reserve and resource ounces of platinum. Implats also has investments in Aquarius Platinum Limited and its subsidiary Aquarius Platinum (South Africa) Limited which have PGM operations in southern Africa. There are also offshore exploration projects in Botswana, Mozambique, Madagascar and Canada.
PALLADIUM 1D BEAR FLAGBear Flags are a Range type of chart pattern.
Bear Flag Ranges are repeatable trading chart patterns.
Bear Flag chart patterns will have a directional bias (Short) depending on the previous incoming trend.
Each chart pattern will have defining trendlines of the support/resistance levels creating the pattern.
What ever time frame you are trading this chart pattern, wait for a candle close outside of the trendline in the direction of the breakout candle. (Our time frame preference is the Daily chart).
Add volume indicator - Volume is the amount of $ that went into a particular candle or in Forex the # of trades that took place.
Add ATR indicator - Volatility is the amount of price movement that occurred. Use the ATR to measure the price movement.
When you see descending Volume bars and descending ATR line (which indicates volatility) this shows
a dis-interest in traders to invest in this pair creating consolidation which creates the chart pattern.
Trade Management after there is a breakout candle close.
1 - Position size (compare volume bar to volume ma line).
a - Breakout candle must be 100% of volume average for a full position size.
b - If 75% of volume average then ½ position size. (To find 75% of Volume
look at the charts volume settings – divide smaller # into larger # = 75%+)
If not 75% then stand aside from the trade.
2 – If candle breaks out of a trendline, 15m before the close of the day prepare your buy/sell order.
Enter two trades. 1st trade will have a SL & TP. It will close automatically when the 1st TP is hit. 2nd
trade only has a SL and will be allowed to run. When 1st TP is hit move the SL to breakeven. Look
at ATR and prepare SL at 1.5 of ATR. Prepare 1st trade TP at 1 of ATR.
3 - SL for both trades will be 1.5 x ATR.
4 - 1st trade TP will be 1 x ATR.
5 - No TP on 2nd trade – letting profit run and adjusting SL to follow price.
6 - When 1st TP hit – move 2nd trade SL to breakeven.
7 - Adjust the 2nd trade SL to follow price.
*8 – After Breakout candle – if price closes back into chart pattern close trade don't wait for SL to be hit.
*9 - When breakout candle is more than 1 ATR from breakout candle open.
a - Enter 1st trade at candle close with ½ position size.
b - Enter 2nd trade with a pending limit order that is 1 ATR of breakout candle open.
c – Price should pullback to that pending limit order for 2nd trade.
d – If Price returns back into chart pattern close trade before SL is hit.
Sprott Inc.stochRSI bottom - rsi sitting at below 40 in a macro uptrend , within uptrend channel , usually when RSI is 50-60 range on an uptrend it is considered oversold , possibility of posting higher low - risk of hitting bottom of parabola but holding at the .23 - interesting scenarios from this price level - but fundamentals are strong with this, posting gains , larger AUM and dividend increase - most likely will sustain uptrend with the metals asset class as supply and demand has greatly hindered the market especially in metals that are in severe supply shortages
Palladium USD profitable Strategy (Study)I'm showing you how my very profitable Palladium USD strategy worked out very well :)
Check out how this system nailed the perfect entry for XAU USD ( Gold ). Press play to check this Ground-breaking result!
*Richimoku ( Advanced Ichimoku Kinko Hyo with 4 Clouds! )
*Kumo Waves (Indentify divergences, trends, investor sentiment.
Know First. Act Faster. A must-have for every trader!)
*As some indicators you may come across are using the repainting mode (which consists in correcting the false signal back in time).
You'll never see such thing in the Richimoku Trading System. What's on the charts is displayed in real time, no cheating...
Send me a Message and Feel Free to test the Richimoku Trading System! I'll send you an invite. Study the chart history on all timeframes. Study all details incl. divergences etc. You'll love it :)
FAQ.
How to access the Richimoku Trading System in tradingview?
To access your indicator simply click on “Indicators” at the top of your Chart, and click on “Invite-Only Scripts”. Click on the indicator to activate it. That’s it!
Will the Richimoku Indicator Trading System work for Stock and Index trading?
Sure! It works on all Forex, Stocks, Indexes, Metals and Crypto's!
Does this indicator work with a free TradingView Account?
Yes you can use the Richimoku Indicator Trading System with a free TradingView account.
Palladium - Potential for some more upside action TVC:PALLADIUM
After a massive dump, over 6% on the 11th Nov, we are seeing great support at $2300 to $2350.
Based on the MACD and the RSI indicators, we can conclude that the downside risk is lowered and the momentum is shifting back to the upside.
Great entry points for a potential breakup are between $2330 to $2350.
Break up take profits are as follows:
TP1 - $2391
TP2 - $2415
TP3 - $2490 (Back to last weeks swing highs
Stoploss - $2301 (Just below the dump)
If the DXY ( TVC:DXY ) breaks up above $23 and closes (4hr or D1) then this trade will be under pressure and should reconsider.