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Palladium

XPDUSD (Palladium): Long term action plan. Buy opportunity.Palladium is now on a new Higher High within the 1W Channel Up (RSI = 68.210, MACD = 65.770, Highs/Lows = 97.7642). Based on the similarities with the 2017 Channel Up and with the 1D RSI having reached a peak level (RSI = 66.981) it is natural to assume that a minor pull back is in place (1,600 projection) that will only fuel the uptrend on the long term within the Channel Up. Based on that our Target Zone on a 1 year horizon is 2,200 - 2,400. ** If you like our free content follow our profile (www.tradingview.com) to get more daily ideas. ** Comments and likes are greatly appreciated.
FX_IDC:XPDUSDLong
by InvestingScope
1
PDL: The Best Follower of the Palladium BubbleRight now the precious metals are gearing up for a historic run, with Palladium already soaring to record highs. One of the hardest part when something breaks records is its almost impossible to know where the top is, particularly in this case. Why? With a looming recession, precious metals are bound to soar - and soar parabolically. PDL has incredible fundamentals with an excellent dividend and has a massive amount of bullish volume. Because Palladium is used mostly in catalytic converters and other forms of manufacturing/biomedical equipment and equipment in general and jeweler, I suspect Palladium will continue to run-up until we get closer to a global recession (which I deem mid to late 2020) before it retraces about 40% from its top peak (whatever it is). I suspect PDL can get into the 60.00 range at-least over-time and Palladium could shoot into 2200-2400.00 range USD/oz before eventually retracing over-time and consolidating around 1300-1400. Keep in mind over 70% combined of Palladium mining is in Africa and Russia which provides many of the Palladium miners exceptional fundamentals due to low inherent operating costs. In this case, this miner is of Canadian origin but the technicals, fundamentals and recent quarters (profits) have been stellar. - zSplit
P
by PaulDeep19131
Palladium Is Leaving Gold In Its DustOften when we talk about commodities, the popular ones that come to mind are Gold and Silver. They have both performed well in the past. Gold is now looking interesting but has been stuck in consolidation since 2013 and silver is still range bound and requires multiple resistance levels ahead to be cleared before we will consider it. What good is trading an instrument purely based on its popular name if there is little chance to profit from it? Unhealthy attachments will kill your performance. Good trading is about being detached from the name and instead being able to focus on the charts to determine high-probability environments and setups. A commodity which is rarely spoken about and performing exceptionally well is Palladium. This metal is mostly used in catalytic converters for cars but can also be found in jewellery and dental fillings amongst other uses. With the way price is moving, you will also find Palladium on the watchlist of and in the trading accounts of some smart traders and investors. Why? Because price is rising, it is that simple! If we take a glance at the monthly timeframe we can see that price has been in a nice trend since January 2016 from a low of $454. Over the past few years, price has steadily been rising under the radar, moving up over 1,100 points which is an increase of over 250%. On the weekly timeframe, we experienced a strong trend from August 2018 at $833 to March 2019 at $1,615. This trend moved up by over 90% but came to a sudden halt in March 2019 where price pulled back and then moved into consolidation. The chart we can see is for the daily timeframe and we have highlighted the cup & handle chart pattern. In an uptrend, a cup & handle is a strong trend continuation pattern of the bull trend. Now that price has broken and closed above the high of this chart pattern, it confirms to us that the chart pattern has completed which is the first indication that we are likely to see the next leg up. Ideally, what we now need to happen is for price to pull back and retest the support, which was previous resistance. If the support level holds, we then need to see the buyers push price back up and break above a previous high as illustrated. This will confirm a continuation of the overall uptrend and we may see a strong trend to the upside. By applying patience and waiting for a pullback, retest of resistance-turned-support, followed by another breakout we drastically reduce the chances of getting caught in a potential head-fake which can happen after a lengthy period of consolidation. Applying patience is a key trait to a good trader as this will help us avoid an unnecessary loss if a head-fake does materialise on this initial breakout from consolidation. The daily 50sma is above the 200sma which indicates that we are indeed in an uptrend. Both the 20sma and The 50sma are likely to be used as support if a trend emerges which will help us with stop placement and exit management when our trading plan is met and we start placing long trades.
TVC:PALLADIUMLong
by Sublime_Trading
2
CFD'S ON PALLADIUM RANGE TRADESRanges, Descending Triangles, Triangles, and Ascending Triangle are repeatable trading chart patterns. Triangles and ranges are consolidation chart patterns that can breakout either direction. Ascending and descending chart patterns will have a directional bias 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 average volume for a full position size. b - If 75% of average volume then ½ position size. (To find 75% of Volume look at the charts volume settings – divide smaller # into larger # = 75%+) 2 - Enter two trades. 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 *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.
OANDA:XPDUSD
by Tradingstrategyguides