PALLADIUM trade ideas
Palladium Being Rescued By The 50smaPrice has been doing well since breaking through the previous all-time high at $1,615
on 20th September 2019. Price rallied nicely, following the cup & handle pattern, until it
reached a high of $1,823 on 30th October 2019.
A pullback, which was to be expected, came down and even dropped 122 points in 2 days.
Day traders may have been scared off but as trend followers, we have kept our stops wide
enough to allow for this type of move without getting prematurely stopped out.
Right now, the 50 simple moving average is saving price from falling any lower and price appears
to be climbing up this sma.
There are two main potential outcomes going forward. Either price will head up and break
and close above the current high at $1,823. The other outcome is that price may come down
to find support at the previous all-time high at $1,615. Right now we are just managing our
investments in Palladium as there is no reason to exit just yet.
Palladium tends to endure deep pullbacks so we can expect a bumpy ride along the way up.
As long as you are managing your trades correctly then you should be able to ride the
trend all the way until the trend ends.
See below for more information on our trading techniques.
As always, keep it simple, keep it Sublime.
Palladium pullbackWe have broken the uptrend and are getting a nice correction to continue down to this trendline.
Palladium: Likely One More Pump Then ConsolidationPalladium has certainly shined brightly this year and has been one of the best performing assets all year - up 40-50% depending on your stock and entry in the precious metal.
Currently we formed a correction but have regained over 1700 status and I am eyeing some minor upwards consolidation for a few weeks with an eventual test of 1800, then a new ATH within the next 2-3 weeks before breaching around 2000 sometime later this year or into Q1 of 2020.
Once we breach into the 2000-2100.00 range I suspect economic data will begin (based on timing), to finally show-up in the equity market and this will hinder Palladium from further gains as a result of it being tied to manufacturing/productive capacity. However, with the world focusing on "clean", "green" and the "environment", Palladium's price should remain elevated at the 1600 level +/- 100.00 for several months before falling lower.
Once a recession happens (whenever that may-be - I forecast one by late 2020), I believe the price of Palladium will likely slip to anywhere from 1300 to 1400 (impossible to know exactly where).
For investors, Palladium is certainly a precious metal for long-term money; unlike Gold and Silver which are more fiat currency hedges, Palladium has mass "real-world" uses and its use will only surge as time progresses. For traders, there will be several good short opportunities but now is not the time.
- zSplit
Palladium Suffering From Big Selling!Palladium saw a 93% rally from the August 2018 low to the March 2019 high and with every
big move we can expect to see price become exhausted and form a pullback, reversal or consolidation.
In this case, we saw a period of consolidation which appeared in the form of a cup & handle pattern.
A cup & handle in an uptrend is a strong continuation pattern but only if the neckline is broken.
That did occur on September 19th 2019 and since then we have seen a 13% rally.
The pattern of trends followed by pullbacks continues and we are currently experiencing just that.
The current pullback has moved down 122 points in just 2 days and is currently finding support at the 50sma.
To confirm a continuation to the upside we want to see a break and close
above the October 30th high at $1,823.
If price fails at the current support area then we have the resistance turned support level at $1.615
which is a major support area.
We need to give price some time and space to move and as the overall trend is up,
the bias is for a continuation to the upside.
In the meantime, we have to see if price will follow the momentum and continue trending for some time.
See below for more information on our trading techniques.
As always, keep it simple, keep it Sublime.
Classic Kijun Breakout TestThis is a test of the kijun break on the daily. The analysis is similar to the Gold analysis and i have attached it.
Entry: 2 position after rejection from blue shaded area (1727-1728)
SL: slightly above tenkan 1761
TP1: 1637
TP2: 1570
XRP : Palladium trading ideaJust to share my current Palladium trading idea.
In my opinion, Palladium will probably want to test the support before it takes the next big step.
So the right time to buy has not yet come and is likely to be in the second half of November.
Of course, I can be completely wrong. Take care & good luck!
Palladium - CorrectionPalladium has confirmed a break of the uptrend line. To add to this signal, the top of this last move up coincides with the 161.80 fib extension level which could have been used as a profit taking level for longs.
A correction from here down to the 1615-1600 level (previous resistance zone) makes sense and this would be an ideal area to look for longs.
Shorting here is a risky option as it is a counter trend trade however previous corrections have been around 10-20% so a move down to the previous mentioned levels is a realistic scenario. Also there is an acceptable risk/reward ratio of approx. 1.4 if using the previous top as a stop loss level.
This analysis is for my own reference. This is not trading or financial advice.
Price Target 1615
ETA Early Dec
Is Palladium finally running out of steam?SHORT - XPDUSD
SL: 1811.95 (Suggested by our algorithmic system)
SL: 1832.00 (Safer option, personal suggestion)
TP: 1697.89
Reasons behind this idea:
1. Support trendline is subjectively broken.
2. MACD and Stochastic indicators have crossed down, bearish.
3. Minor RSI bearish divergence.
---------- Chart Drawings ----------
Blue Dotted Line: Broken Support Trendline (New Resistance Trendline)
Blue Solid Line: Next Supporting Trendline
Red Solid Line: Previous Resistance Trendline
Purple Line: Stoploss suggestion from our algorithmic system
Green Line: Take Profit suggestion from our algorithmic system
Red Arrow: Bearish Divergence
Screenshot of our mobile app alert: ibb.co (Timestamps are Australian Sydney Time UTC+7)
Please trade responsibly and good luck!
XPDUSD Intraday 6000pip sell signalAll indicators are co-centric and negative. All 4 averages cross below price in succession from shortest-term to longest term, indicating a high volume (large momentum) uninterrupted sale transaction;
The time frame of the event implies either news or selloff/take profit action rather than slow in industry demand.
Short-Term XPDUSD View1hr XPDUSD
Seeing the response of XPDUSD when passing through crosshairs.
Determine whether behavior indicates or predicts volatility
-50 cross below -200 has shown 14000pip fall within 3 days.
4hr XPDUSD response to VWMA -1
Seeing the response of XPDUSD when passing through crosshairs.
Behavior during high volatility.
-50 cross below -200 indicate 14000pip fall within 3 days.
Wk XPDUSD response to VWMA -1
Seeing the response of XPDUSD when passing through crosshairs.
Behavior during high volatility.
PALLADIUM : daily divergenceValidated daily divergence on TVC:PALLADIUM .
SL : 1835 (above weekly R1)
TP : 1620 (50% fibonnacci, and previous top)
RR : 2.3
XPDUSD - SHORTPalladium has continued to rise over the last few months. Is it time for a correction? Break above previous high would invalidate, hold below could see a well earned retracement.
Week 45: Trade 2 - PalladiumA bit of speculation but Palladium is still bullish and going strong. Metals are being moving strong in uncertain times as well as Palldiums impact on auto industry wont slow down this year.
TP 1 -1850
T P2 - 1900
TP 3 - 2025
