PA1! trade ideas
PA1. Palladium looks like a solid Buy optionPalladium futures are in a corrective Wave C according to my Wave counter. Broke Daily 200 MA and 200 WMA and looks like now have a clear path forward. Daily RSI may be slightly overloaded so there may be a short correction after the immediate ascending but the ending target of 680 figures looks very reachable.
On fundamentals, Palladium hasn´t forwarded the Gold rally therefore has a similar or bigger room to run. Also, looks like there may be a temporal shortage of a supply for this metal: www.metal.com
Buy: at current levels
SL: 580
TP1: 620
TP2: 650
TP3: 680
Elliott wave analysis on PalladiumPalladium is in wave 5 down. From EW analysis the wave 5 does not complete yet. The price will meet high resistance at 539.2~565.6.
If the price rejects from this resistance area, open short position.
Open position when it reiects.
SL at 573.9
TP at 451.5
If the price does not reject from the resistance area, this analysis will be invalid.
Good luck for everyone!
Palladium: Staging a rally from oversoldPalladium has a very interesting setup, I'm looking to enter longs in this instrument very soon.
If you can't trade palladium futures, you can trade PALL, the etf. Try to keep risk at 1% per trade.
The entry would be a buy stop confirming the rally, for specifics about entry, stop and trade management contact me privately.
You can trade with your own strategy, if your analysis matches mine as well.
Good luck!
Cheers,
Ivan Labrie.
Palladium short - target 400.0We are still below the 1/1 bear Gann line. The January retracement is losing strength and the bear market is ready to resume. Target 400.00-394.25. Probability H.
Palladium execution strategyShort palladium into the mid 200's. Buy between 240 - 250 sometime between May 2016 - October 2017. I think closer to October 2017
$520 important level..The overall picture is bullish for Palladium, divergance lately betw price and RSI. However if we break below $520 then look for deep drop!
Palladium 5yr trendlinePalladium chart showing a 5yr trend-line. Monitor breakout for shorts. Funds could start liquidating their longs below 746.
Palladium getting ready to rallyWhile other precious metals are in clear down trends since mid-2011, the palladium market has always remains well-bid thanks in part to its relative rareness and the fact that it has similar industrial qualities as that of platinum at a lesser cost. Looking at the long term chart of palladium futures, I get the sense that this metal is getting ready to rally this spring after having carved in a significant base above 750 over the past 4 months. I'd say that the $820 handle is likely to be hit sometime in March, and a break above this resistance could free up the path for a rally all the way back up to $900 later on this year.
Potential completion of a bearish 5-0 pattern on PalladiumNotes on the chart
Any Question and comment is welcomed
Palladium GannanlysisPrice fell below the blue line of the major upward projecting fan and the major downward projecting fan today. I have highlighted a couple of potential bearish targets.
Palladium Daily possible price projection. Present here is one possibility of a path forward in Palladium, assuming it goes up from here.
Palladium Monthly Channel CloneThe highlighted channels are the reference channels for all clones. Basically when price crosses a channel clone trend line, price will next move to the proceeding trend line where price will test the new trend line. Current monthly candle is painting just across a green channel clone trend line. I will be watching to see if price can hold this crossing.
Gann Fan Weekly Palladium "enter at your own risk"More fan fare with this one. From a distance it looks real mess but within the web there appears to be a method to the madness. Looking from a distance we have the the two major Fans on the far left of the screen. One projecting up and one projecting down. Currently palladium price is wedged between the last two angles of these fans. Next there are two minor fans projecting down and two projecting up. One of the more interesting things on the chart was once price escaped the last the last angle of either an upward or downward fan their was a significant price movement that followed. This can be seen on the first minor down projecting fan reading from left to right. Looking at the second (and last) minor down projecting fan we are near escaping the last angle of this fan.
Now zooming in, The formation is the first thing that pops out. Palladium has formed a triple bottom reversal inverted head and shoulders with a successful neckline test. Currently price is sitting on a 1x1 clone and just ahead is the las red fan angle of the downward fan. Beyond that is a nice clear channel leading directly last angle of the major upward fan on the far left. . Is this where Palladium is headed? Or will there be rejection? Soon we will know.
Looking for a correction.Historically the price Palladium has followed the auto industries lead. However, the recent drop in metals has created a divergence in palladium and one of the underlying consumers Toyota manufacturing. To be fair , Japan's move to further devalue the yen played a role in this gap too. But looking at other car makers, we can say the divergence between Palladium and Toyota is not the exception but the rule. As metals continue to be pressured and autos mount a comeback this gap is sure to widen without a correction.
Looking for support in metal. A day of days among metals. As this chart illustrates, most of the metal group has little, if any, recent support at current price levels. However, there is one exception. Let's see how it plays out.
Palladium is going to get more expensive.In this chart I am comparing a couple of indicators in the last bull run in Palladium with what is happening now. These indicators are pointing to a move north in the commodity soon. Positive moves in the commodity occur when crossovers in the MACD coincide with Fisher indicator bouncing off upward trend line. For an added bonus, volume has been really escalating with higher price. I would like to thank JR and NMIKE for introducing Fisher to me. Always something new to learn from the great members here at Tradingview. Thank you!
Palladium is making a run.This is a chart of palladium with some recent breaks to the upside highlighted and the palladium play PAL at the bottom. I would like to thank JR for showing me this play. Not sure this is the big one but a move north it is. Looking back crossovers in the MACD have usually lead to big moves in this metal. We have a crossover now and PAL is following with a breakout of it's own.
