Bubble unwind in PalladiumPalladium is the most overbought asset class, its time for the unwind.....
XPDUSD1! trade ideas
High chances that Palladiun will start a downswing High chances that massively overbought Palladium will start a downswing from this point. Watch carefully and take conscious action!
Wait and see on PA until daily close below 2163 Before considering a bearish view of PA
I'd like to see
1.Daily close below 2163
2. RSI (7 day) daily close below 50
3. Increased volume to confirm accelerating rate of decline
Palladium | Exponential GrowthPlease support this idea with LIKE if you find it useful.
Initiate Short.
Entry - 2274.4
TP - 1953.9
SL - 2318.4
Reason: Exponential growth with overbought RSI. Plus pay attention on Ichi Cloud that
became thiner - the growth became weak. Seems the price was already rejected. At least the price should take a correction.
Thank you for reading this idea! Hope it's been useful to you and some of us will turn it into profitable.
Remember this analysis is not 100% accurate. No single analysis is. To make a decision follow your own thoughts.
The information given is not a Financial Advise.
Palladium - Rejection zoneA new daily rejection zone just created. A pullback move down to 1960 area is more likely to be seen next week.
look to short on uptick on any lower time-frames.
Enjoy your profit.... :)
PA - I predicted long last week - this week, it's short!Look at that chart! Hit the 50 fib line perfectly! And look left! More confluence with previous support! Target will be the 272 fib line at 1733.5.
PA Futures Long - Pullback off the 50 fib level and more!PA pullbacked on Friday off it's ATHs to a significant level, at the 50 fib and also previous resistance/support level - good for a long right now! Target is up to the 272 fib level at around 2020!
Near-term Top in for Palladium?Very likely near-term high for #palladium is in. Price top-ticked the rising channel resistance from 2016 as well as the top of the channel from Aug. Expecting a pullback thru yr end to $1800, which would be an interesting opp to add long @ horizontal & channel support $PALL
Strong Resistance$2000 is strong resistant line of the long term.
$1400~1500 may be the 1st target of the bear.
$850~1000 may be the next target.
Palladium Breaking out to All-time highs vs. Platinum#Palladium breaking out to all-time highs vs #Platinum is a chart I have been watching. $PALL $PL $PA
#Palladium 2D chart update ! 12/15/19 6:20 am EST Palladium is giving signs that it starting to crack, so it has my full attention now. A return to wave 4 red would be the first clue that a deeper correction towards wave 4 blue is in the cards. Nice Bull market i must say. They all end.
Palladium to new All time highsAnyone else watching #palladium print new all-time Highs? $PALL $PA Next stop $2200?
PALLADIUM, GET IN THE DIP1590~1600. the important price level that i will be looking at.
1] uptrend - bullish, above 200MA
2] 50% FR point
3] Previous highly important "top"/resistance turned support
4] will look for simple confirmation to get in
i believe this is a very rigged market. do always place a stop loss and trade safely.
Palladium - Bearish DivergencePalladium currently trades at the key psychological overhead resistance of 1600 with the RSI signaling bearish divergence, meaning, the price makes a higher higher however this is not confirmed by a higher high on the RSI. Traders should take caution around current levels.
PALLADIUM taking cues from copperas one of the main by-products of copper and platinum mining. copper miners out of chille have begun to reduce mining operations due to lack of demand from china, which could indicate weakness in their housing market possibly. since palladium's rise is due to the auto sector. id use this opportunity to look at weaker auto candidates and countries with unusual auto manufacturing dependence specifically with euro-zone exposure.
Palladium Ripe for A Fall..Once $1500 on the September futures breaks, I expect a quick and decisive fall to $1300. Additional things I see which makes this a high conviction trade:
1.) Seasonal pattern for XPDUSD is usually weak in mid-July until mid-August/early-September
2.) $1500 was a major breaking point in March as well. Once prices broke that level, the selling came in swiftly.
3.) The NYMEX futures CoT shows the commercials (smart money) is short around the same number of contracts just prior to the March crash as well.
4.) There was a marginal, new swing high in the futures but not in the cash market this month. Prices have since reversed back down off of the $1600 level quite rapidly. This tells me there are ready and willing commercial sellers at those higher levels thus capping prices further (for the time being).
5.) The contract margins for PA on NYMEX are over $12,000 for a 100oz. contract. This is reminiscent of Silver Futures in May 2011 just before the price peaked and promptly crashed..
There seems to be some intermediate support right around the $1300-$1275 level so I would look to cover there...
Thanks to @thunderpips for the 6H/4C chart idea..
