PalladiumPalladium produced a double top on Thursday and dropped. 772.85 is now support for June. H&S that was projected fell apart. Open interest continues to rise. See Palladium continuing upward after correction.
March Projection
PA1! trade ideas
Palladium: Multiple Bearish PatternsSo far Palladium has completed bearish 2618, AB=CD and Gartley Set-ups. The Gartley just triggered like 20 minutes ago and am pretty bummed I missed it. But there will be many more opportunities! Next I will be watching for a breakout of the wedge, or the formation of another bearish pattern.
Let me know your view!
Palladium Vs. Gold I do not have much doubt that palladium topped against gold in the short term. Though, longer term, things look interesting for palladium against gold and silver - possibly a stronger run higher (or smaller run lower) than both metals.. I am currently short palladium with no position in gold or silver.
Pallidium Head and shouldersPalladium has made the top of the last shoulder. Has tried three times to move higher, but has come under resistance. Major resistance is at 773.25 from back at position A of the Cypher pattern. Possible down day tonight and into tomorrow. Target down is 740. Full H&D target 700.
PalladiumPalladium had a small up day today. Waiting to see if this flags bearish or bullish. Using the head and shoulders that might continue, suggesting bearish flag tomorrow and down Thursday and into Friday. Otherwise this market will continue to creep up. June Palladium in the same situation.
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.
Palladium potential H&SWhile I'm generally bulled up on metals but palladium could be running into a right shoulder
Palladium Continuation of UPTRENDCould reach 785 tonight, good continuation pattern, palladium has had an impulse then corrected itself now for another impulse.
Palladium - DailyI'm long PALL (etf) from 61.20.
White count, while valid, is suspect given the deep wave 4 (below the 61.8% extension). I've added the blue count--a variation of sub-divisions in wave (3) with much higher targets.
Given the rally stalled at the 100% extension off the lows, then failed to hold the 61.8% extension, I'm not sure the full impulse will play out to (5) or whether some kind of corrective move higher might be operative. Regardless, holding long for now with no complaints.
Palladium Bigger Picture Wait for the breakout, may be another few weeks. If breaks out may wait for the pullback
More upside potential?The decline from 747.50 (Aug 10) ended at 651.50 (Sept 16) and it does not look like 5-wave impulse
Still Long, Divergence for shortMay be a pullback in PALLADIUM, if comes down, may bounce off the trend line below and continue up.
PALLADIUM Can go either way, if breaks to short could test structure, if breaks out long will go create new monthly highs.
Potential Top Looks like the top is complete or we are very close to the top
Will short if break the red uptrend channel
note: a very clear extended blue wave 3, anticipate height equality between wave 5 and wave 1
Bullish on PalladiumPalladium has broken out of a monthly downtrend and is in a strong up trend. However, this move can end anytime. Potential targets could be the 1.272 and 1.618 FE. Following a consolidation, it should give another move up.
