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Palladium (XPDUSD)

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PALLADIUM trade ideas

Palladium Resting At The 50 Simple Moving AveragePalladium has seen a strong rise since August 2019 with nice trends ranging from 18% to 38% following periods of pullbacks. This has been an overall growth of 106% over a period of 7 months. As with every trend, there will be pullbacks along the way and we are experiencing another one at the moment. When price pulls back, we always want to look for areas of support that price may come towards. Price usually bounces off areas of support but if support levels are broken it may indicate further weakness to come. Price has pulled back to the 50sma which is currently holding and helping to keep price up. The last time price hit the 50sma was in November 2019 and we saw a strong trend that followed. If price can do the same going forward then we need to see momentum to the upside which can push price above the $2,500 round number. Followed by that we need price to break and close above the current high at $2,875 and the $3,000 round number. If these levels are broken then we should continue to see Palladium soar to even greater heights. See below for more information on our trading techniques. As always, keep it simple, keep it Sublime.
TVC:PALLADIUMLong
by Sublime_Trading
Palladium Rescued At $2,500!Palladium is proving to be resilient as it is finding strength after a sharp decline last week. The $2,500 round number has come to the rescue for the buyers and it is acting as a strong level of support for price. In January 2020, this round number was acting as resistance and forced price to pull back and now that resistance level has turned to support. The fear of the coronavirus spreading caused wide speculation in the markets last week and Palladium fell by over 350 points. Now that price has found support at $2,500 we are starting to see strength back in this commodity and we just need more momentum to see price push its way above the current all-time high. A break and close above the current all-time high at $2,875, formed on the 27th February 2020, will confirm a continuation of the uptrend. Bear in mind that we have the $3,000 psychological round number not too far above that high. This may cause further resistance for price if it can reach these heights. Our multiple positions are currently still in profit and we are looking to compound once we see another breakout. See below for more information on our trading techniques. As always, keep it simple, keep it Sublime.
TVC:PALLADIUMLong
by Sublime_Trading
2
"The Tesla of commodities" - And it's not gold, iron ore or platThank you China – and no… not for the Coronavirus I’m talking about Palladium… The main reason why Palladium is flying and will continue to do so, is all thanks to regulations taking place in China. We are seeing major industrial demand driven by the expectations that there'll be stricter environmental regulations and standards in China. In fact, they expect production to trail by 1.9 million ounces of palladium this year. That’s an insane 800,000 ounces more than last year. For you to understand why there is an increase in demand for palladium, we need to look at what the main industrial use for this precious metal is. Did you know, two-thirds, or 67%, of all palladium is consumed each and every year from the manufacturing of automobile catalytic converters. What’s important to note is that the palladium - used in the catalytic converter - helps control the harmful emissions and pollution from fuel-powered vehicle car exhausts… And now, with Chinese and European vehicles needing to meet the (China 6 and Euro 6d) legislation we can expect a rise in the global average loadings on gasoline-catalysts. This increase in demand, will send the palladium price even higher. Vivek Dhar, an analyst at Commonwealth Bank of Australia summed it up nicely: "Demand is being driven by environmental regulations, particularly in China, which has increased palladium use in vehicles and should offset any recent weakness in car sales" Right, so we know the big reason why Palladium should continue rallying, but wait until you see this chart… This half-crescent pattern will take Palladium to the moon Looking at the above daily Palladium chart, you can see it’s been moving in a strong uptrend from a low price of $1,460 up to the previous high at $2,530. During this time, it has formed a strong upward (buying) momentum pattern which I call the “Half Crescent” formation (shaded grey). This is when the price moves up at a steep and round angle, which creates a formation that looks like the crescent shape similar to the moon. And now that the price has broken out and above the six-month ceiling level (pink line), tells me that palladium is going to continue to sky rocket. To calculate the next target of Palladium we'll basically use my breakout High-Low calculation… This is a target calculation where I take the price difference between the most recent high ($2,530) and the most recent low ($1,460 and I add it to the most recent high price. Price Target = = (High - Low) + High = ($2,530 - $1,460) + $2,530 = $3,600 This means, we will be able to take full advantage of the palladium price rise while it rallies another $1.070…
TVC:PALLADIUMLong
by Timonrosso
XPDUSD correction follows.XPDUSD correction follows. Continue analysis. In my opinion, the analysis remains the same. The fractal structure is retained. I updated because a wave sequence rule set was starting to build up. And this is nothing more than a wave shift. The movement of the stock accumulation (sideways) wave shifted upwards. The point of the rule set is that the width of the range remains. Therefore, the lower part of the accumulation bin moves up to 2343usd. The range width may justify starting a short position.
OANDA:XPDUSDShort
by meszaros
Palladium's Recent Trend Up 26%!The current 26% trend has now matched the trend from May to July 2019 in terms of percentage rise. It still has some way to go before it matches the 38% rise we saw from December 2019 to January 2020. Palladium has been forming a nice strong uptrend with clean pullbacks and smooth periods of consolidation. We are currently experiencing a pullback which could easily turn into consolidation but nothing to be of concern just yet. If we see a deep pullback then the next obvious level of support is the $2,500 round number which previously acted as a resistance zone. Price may not even come this low from where it is now and may just find support around where it lies now. What we are looking for next is a break and close of the current all-time high at $2,842 from 19th February 2020. Even if price breaks above this high, we have the $3,000 round number not too far above which may act as strong resistance as well. Our compounds will take place once price travels above $3,000. See below for more information on our trading techniques. As always, keep it simple, keep it Sublime.
TVC:PALLADIUMLong
by Sublime_Trading
2
XPDUSD (Palladium) correction begins.XPDUSD (Palladium) correction begins. If you look at the W1 timeframe, you can see that the palladium has done a very accurate 2x fractal copy for 10 years. (I am absolutely fascinated by such charts. We assume that the future is invisible, everything moves at random. There is a very regular engineering precision curve here. But let's return to the analysis. My assumption is that the exchange will continue to do 2x fractal copying. This means that the construction of a nearly 20% correction channel is now underway. The target price is 2180usd. Note Automated trading is now over 60% in stock exchange trading. As a technical engineer myself, I use analytics systems that are also used by stock market robots with artificial intelligence.
OANDA:XPDUSDShort
by meszaros
8