PA1! trade ideas
Silver, Gold and now Palladium !Hey guys, your favorite bear is today interest buy the case of palladium !
Palladium shows signals of accelerated parabolic phase which tends to confirm a bubble market.
Let's recap the state of the precious metals market :
- Silver is in crash phase.
- Gold in an advanced bearish consolidation.
- Palladium in a bubble market.
Technicals indicators :
Price is well overextends over 200, 55, 21 and even over 7 monthly EMA : this is a strong signal of bubble.
RSI shows overbought conditions on monthly chart and bearish divergences on weekly and daily.
TD Sequential gives us a perfect daily 9 candlestick which implies a potential correction.
DISCLAIMER : I'm not financial advisor. I'm doing it for my own entertainment. You are responsable for your losses because you trade at your own risk.
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$PA1! Palladium futures has hit the PRZpalladium futures has hit the PRZ of our bullish cypher harmonic pattern
target is the .618 gap fill off of harmonic, stop below the (X)
Elliott Wave View: Palladium 7 swing Correction In ProgressShort term view suggests the rally in Palladium to 2814.25 ended wave (3). The wave (4) decline in Palladium is currently in progress to correct cycle from May 13, 2019 low before the rally resumes. Internal of wave (4) is unfolding as a double three Elliott Wave structure. Down from Feb 28, 2020 high (2814.25) , wave ((a)) ended at 2610.1 and bounce in wave ((b)) ended at 2740. Wave ((c)) lower ended at 2387.30 which completed wave W of the double three.
Afterwards, the metal ended the rally in wave X at 2576.9. It has resumed lower and broken below wave W at 2387.3 suggesting the next leg lower has started. Down from wave X high at 2576.9, wave (a) ended at 2391 and wave (b) bounce ended at 2465.10. Expect Palladium to extend lower towards 2248 – 2311 area to end wave ((w)), then it should bounce in wave ((x)) to correct cycle from March 2 high in 3, 7, or 11 swing before turning lower again.
The potential target for wave Y of (4) can be measured as 100% – 123.6% Fibonacci extension of W-X which comes at 2045 – 2146. This area, if reached, can see buyers for further upside or 3 waves bounce at least. We don’t like selling the proposed decline due to the bullish trend in the higher degree.
Long Palladium on pullbackLong term uptrend in pullback. Looking to enter here with stops under support. Looking for trend continuation
Palladium (PA1!) short.All description on the chart.
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Palladium Technical Breakout 2020-02HVF measured move places target price to ~$2900.
This measured move idea is invalidated if we have a weekly candle close below ~$2300.
SMS Strategy - Palladium Stop Moving UpOur SMS Strategy remains long Palladium from 1936.50 on 1/3/20. Stops are moving up below recent support levels at 2171.30.
Weekly game plan 16 February 2020 - PalladiumWell, the Eye of Sauron is no more :(
Starting to look like a pennant setting up for a trend continuation.
Weekly game plan 9 February 2020 - PalladiumThey Eye of Sauron!!
It's basically just a topping pattern that we've seen has the power to burst bubbles.
Palladium (PA1!) short.All description on the chart.
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Palladium futures market in strong uptrendIn the Palladium commodities market, on the Daily chart, the price is in a strong uptrend. Relative Strength Index indicator pushed lower and closed below the sixty line. This indicates that a slight retracement is due, and I expect the price to come back to a heavy volume area. I dropped down to the 30-minute chart to tighten my entry in hopes that I will receive a better risk-to-reward ratio.
Palladium bearish prediction on daily retracementAfter Palladium has had a recent correction it retracted to 0.786 fib, in fact it ran some further and triggered some stops in typical fashion. Right now it is below
that line. Notice the large top wick of 62 points (worth $6200 for one contract) . This is an indication that bears are still in control for now. Shorting here will give you a nice risk reward ratio.
Disclosure : I am 2 contracts short as of today
Palladium COT&Open Interest Jan 28 2020There's a drop in interest by MM longs and Prod Shorts since COT. Spreads increasing
Bubble unwind in PalladiumPalladium is the most overbought asset class, its time for the unwind.....
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.
