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Palladium

Divergence spotted at Palladium..Watching the Palladium's daily chart we can see the weakening of the trend as price can't continue reaching the top line of the up-trend channel. There is also one great resistance at 810 area well respected. We can also see the big red engulfing candle that occurred yesterday. Last but not least we can notice the Macd's divergence with the Palladium's price failing to make new highs. There is a little support at 785 level. FIRST TARGET 775 AREA 20MA-MIDDLE BBAND AND GOOD SUPPORT SECOND TARGET 735 AREA CURRENT BOTTOM TREND-LINE AND BOTTOM BBAND LINE BUY STOP AT 815 AREA
TVC:PALLADIUMShort
by The_Greek_Trader
Palladium -- Missed Last Entry But Here Is Another ChanceI missed my entry on the past idea (linked below) as I was hoping to get in from the top of the potential Cypher rather than using the AB=CD for my entry. Oh well. Here is a 2618 set-up after the double top it formed last week. It is also the completion of the faux AB=CD patterns shown on the chart . It seems to me a good place to short. I would love to hear your thoughts. Good luck! (Don't use this as a trading signal -- I am rookie!)
OANDA:XPDUSDShort
by SharkbaitAl
PalladiumVery interesting market Palladium. Can make a lot of money fast, or loose it all. Been watching this for a couple of weeks now. If you don't know, Palladium is used in catalytic converters. Since the drop in oil prices for 2016, the car industry have seen an uptrend. 2017 may shape out that same way as there is too much anxiety that the OPEC agreement won't amount to much. Since Palladium is scarce, this market may continue to rise. March and June Palladium have been building out a head and shoulders pattern. Right now there is a bullish flag forming. Unlike other markets, this market produces textbook signals. At least so far. The grid is based on a $2000 dollar move. If you had the courage and money to play this market since September 30, you would have reaped $54,000 per contract.
NYMEX:PAH2017
by hopscotch
Palladium: Bearish AB=CD Into Bullish Cypher?I am looking to enter a short on Palladium in the near future for the completion of the AB=CD pattern shown on the chart. Today has been an extremely bullish day although it seems like it may have finally taken a breather around 782. I will likely be looking for entries on lower time frames which correspond with this longer time frame idea once I have seen rejection in the PRZ as the stop losses for these ideas when trading Palladium contracts is rather large. Be patient and always wait for additional confluences and confirmation! Please do not regard this trade as a signal -- I am still relatively new to trading and these are only my personal views and ideas! Good luck!
OANDA:XPDUSDShort
by SharkbaitAl
PALLADIUM indecisive at the momentSomeone asked an advice in chat about Palladium LONG (with TP@756.00) and thought to provide my personal point of view with a more organic answer... The instrument is uptrend on the long term, but it looks indecisive at the moment; from the chart we can see it is in a range between two Fibonacci levels (and one of them is a resistance as well). If we entered LONG at the bottom of the retracement the trade would be risky might be somewhat safe (with a SL just below the Fibonacci line serving as support. The price bounced a few times around the ~756.13 line as well: last but not least, the pin-bar reversal on Thursday (see the lower red line in the next chart, orange line in the others) Note that there is also an historical support on the Daily/Weekly (the higher blue line ~767.99 in the chart). If we bought it around 748 (I am just guessing an entry point) we would have a 1:1 risk-reward-ratio which is not ideal given the conditions. If we really wanted a 1:1 risk-reward-ratio, the entry point should have been put just above the Fibonacci level where the price bounced and the SL accordingly. I do not want to be dragged into the philosophical discussion if it is worth trading commodities for short-term, relatively little movements :) I would just stick to the technical and say that not advise to enter a trade in the middle of a Fibonacci level or between two support/resistance levels (even more if one confirms the other). Hope that helps
TVC:PALLADIUM
by AlbionTrader
Palladium has established an up trend on the hourly After 7 red days in a row & 3 red weeks, Fri saw an inside/doji HOD @ $660.35 that broke to the upside on the open last night. In addition consolidated with a higher low on the Daily $652.15 and had previous support at that level in Sept I am trying a swing for several days/possibly weeks, targeting 20DMA for starters @ $719.74 and will re-assess PA at that time. Would feel better if Platinum came along, so far kind of stuck in the mud in comparison but green on the day as well. Gold would certainly help both along as well one eye open on that progress during this trade but noting that Palladium has been known to have zero correlation w/gold at times this year like the Nov 4 - Nov 30th bull run. Seems more correlated w/copper as an industrial on that run... if precious metals happen to run same time look out ABOVE
TVC:PALLADIUMLong
by Fillingmyboots
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