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Palladium (XPDUSD)

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PALLADIUM trade ideas

Palladium Bounces After Free FallFollowing the free fall we witnessed in Palladium last week, price has appeared to have found some form of support just above the 50 simple moving average. Price does tend to hit the 50 simple moving average, so if we see further declines, we may see price tag this indicator before seeing a continuation to the upside. In April this year, price had finally broken out of the 14 month-long period of consolidation but then struggled to remain above the consolidation resistance level at $2875. With price back inside the consolidation zone, we need to see another breakout but this time above the new all-time high at $3017. This would also mean a breakout above the $3000 round number. Overall, price is creating higher lows, but as price is still in the consolidation zone, its behaviour may be unpredictable, which is why we wait for breakouts to confirm trend continuations. See below for more information on our trading techniques. As always, keep it simple, keep it Sublime.
TVC:PALLADIUM
by Sublime_Trading
1
Palladium Down 9%Palladium is currently taking a dive, and something similar is happening with Gold and Silver right now. The news is likely fueling this and the decline could be short-lived. In April of this year, price had broken out and created a new record high at $3017, hitting the $3000 round number. This psychological level of resistance created an obstacle for price and forced price down. This week, we see a strong bearish move with the next level of support based on this timeframe being the 50 simple moving average. Price has used this indicator as support several times in this stock’s history, so this is the obvious level that price may gravitate towards. Palladium has been making good progress since the 47% decline during the 2020 global pandemic, and this is just another bump in the road that price will need to navigate around. Patience for now as we wait to see how far price will drop and what price will decide to do once it finds support. See below for more information on our trading techniques. As always, keep it simple, keep it Sublime.
TVC:PALLADIUMLong
by Sublime_Trading
3
PALLADIUM Trade based on the 4H MA200 and the 1D MA200Pattern: Channel Up on 1D. Signal: As long as the 4H MA200 (yellow trend-line) supports, buy the dips. If it breaks potential prolonged sideways action until the 1D MA200 (orange trend-line) approaches. Target: Trade within the patterns that will be formed. ** Please support this idea with your likes and comments, it is the best way to keep it relevant and support me. ** -------------------------------------------------------------------------------------------------------- !! Donations via TradingView coins also help me a great deal at posting more free trading content and signals here !! 🎉 👍 Shout-out to TradingShot's 💰 top TradingView Coin donor 💰 this week ==> xBTala --------------------------------------------------------------------------------------------------------
FX_IDC:XPDUSD
by TradingShot
1
PALLADIUM PRIMARY ANALYSISJust to represent graphically, we have the square of sides 441.71 X 441.71 on both sides The 0.618 Fib division of the square was the level price reached in February 2020, the top of the crash, The crash settled on the 0.382 division of the square for the next advance The bottom of the crash was 883 weeks from the origin of the cycle in 2003 So time axis reached 2.0 of 441.71 exactly at the bottom of the crash and price axis reached only 0.618 level 441.71 * 0.618 = 273 units ( Price axis ) 441.71 * 2.0 = 883.42 units ( Time axis ) So we expect that between the 2.0 time and 2.618 time axis the top could be reached. Prior to the 2.618 time we have the 2.236 or root 5 time axis to monitor against price. Good luck and take care guys
TVC:PALLADIUM
by Fairmont-Markets
Palladium Setting Up To Go LongPalladium had a nice run between 2018 and 2020 with a rise of 245% during this period before the Covid-19 pandemic hit price. From that point, price created an all-time high at the time of £2875, then there was a sharp decline to near the $1500 round number. The round number and the 50 simple moving average cushioned the fall and gave price enough support to find its footing. Price has slowly been climbing back up, using the 50 simple moving average as support along the way, and went on to create new all-time highs last month at $3017. The previous all-time high is below price and has acted as support already and may be the base price needs to help it to continue creating record highs. If price can break and close above the recent high, this would also take price above the $3000 round number and allow us to look for a position in this commodity. See below for more information on our trading techniques. As always, keep it simple, keep it Sublime.
TVC:PALLADIUMLong
by Sublime_Trading
Palladium 23 Points To Breakout!Palladium should not be ignored even if there are strong moves happening in other markets because this commodity has the potential to trend well long-term. The trend between January 2016 and February 2020 saw a 542% move to the upside allowing for the accumulation of simple profits during that period. As expected, price went into consolidation following such a strong move but within this consolidation period, price has slowly been climbing its way back up. On the weekly chart shown, we can clearly see that price has been using the 50 simple moving average as support to assist it in climbing higher. This week price came close to breaking out above the all-time high at $2875 by just 23 points, so there is good progress since our last post. If price eventually breaks out, we anticipate a strong trend in the direction of the breakout. We will also need to wait for a break and close above the $3000 round number which is a psychological level of support/resistance. Patience for now as we await that breakout. See below for more information on our trading techniques. As always, keep it simple, keep it Sublime.
TVC:PALLADIUM
by Sublime_Trading
Palladium testing ATHPalladium had a great run the past month after about a year of consolidation. There is currently very strong upward momentum testing resistance at ATH. As you can see, the price is also on a rising wedge and hence a correction is imminent. I expect Palladium to retest 2850-2870 at least once more before moving lower to its new support at the 2680-2700 level. Note: I'm currently long Palladium with average buy price of 2660. My trail stop is currently set at 2772.
TVC:PALLADIUM
by ak97b