For future reference on FractalsPalladium.
Trend usages (today):
Catalysis
Electronics - The second greatest application of palladium in electronics
Technology - Hydrogen easily diffuses through heated palladium
Hydrogen storage - Palladium readily adsorbs hydrogen at room temperatures.
Looks like the usage will make it pricier. Palladium will continue the trend? Fractal to a long term investment considered. Consolidating the price ATM.
XPDUSD trade ideas
Palladium breaking out?On both price chart and SMA50% we can see a breakout from 12+ months resistance lines. Both were hit several times and did hold. Not this time. There was a breakout and the lines are being backtested now.
If breakout is succesfull we could see a swift up move with $3200 price target mid 2021.
I would put a SL just under 23 Feb wick witch is $2312.
PALL s'moreMacro economic climate Suport the end of metals manipulation.
"loss of confidence in government produces monetary crisis Monetary Crisis, pushes metals higher."
M. Armstrong.
Political self destruction and ruin of the republic causes loss of confidence in government.
this is simple platinum.
I have matured a little as a technician. this rule set combines Gann fan , Fibonacci levels ( zoom out on the 2 day chart ) and fitted Ellipses
Retest then Pump - Long IdeaHello friends, today I bring you the 4hr chart of Palladium which recently broke the downtrending line and reversed from the important support around $2200. Palladium is running now into resistance around $2365 while RSI turning oversold. I expect the price to pullback to retest the downtrending line which could be a nice opportunity to add long positions after formation of bullish candlestick. As long as the price stays above 2288 on closing basis, Palladium can go higher to the targets outlined in the chart in the next few days/week.
Please share your thoughts and ensure proper money management. Thank you for the support and good luck with your trades.
PALLADIUM 1D BEAR FLAGBear Flags are a Range type of chart pattern.
Bear Flag Ranges are repeatable trading chart patterns.
Bear Flag chart patterns will have a directional bias (Short) depending on the previous incoming trend.
Each chart pattern will have defining trendlines of the support/resistance levels creating the pattern.
What ever time frame you are trading this chart pattern, wait for a candle close outside of the trendline in the direction of the breakout candle. (Our time frame preference is the Daily chart).
Add volume indicator - Volume is the amount of $ that went into a particular candle or in Forex the # of trades that took place.
Add ATR indicator - Volatility is the amount of price movement that occurred. Use the ATR to measure the price movement.
When you see descending Volume bars and descending ATR line (which indicates volatility) this shows
a dis-interest in traders to invest in this pair creating consolidation which creates the chart pattern.
Trade Management after there is a breakout candle close.
1 - Position size (compare volume bar to volume ma line).
a - Breakout candle must be 100% of volume average for a full position size.
b - If 75% of volume average then ½ position size. (To find 75% of Volume
look at the charts volume settings – divide smaller # into larger # = 75%+)
If not 75% then stand aside from the trade.
2 – If candle breaks out of a trendline, 15m before the close of the day prepare your buy/sell order.
Enter two trades. 1st trade will have a SL & TP. It will close automatically when the 1st TP is hit. 2nd
trade only has a SL and will be allowed to run. When 1st TP is hit move the SL to breakeven. Look
at ATR and prepare SL at 1.5 of ATR. Prepare 1st trade TP at 1 of ATR.
3 - SL for both trades will be 1.5 x ATR.
4 - 1st trade TP will be 1 x ATR.
5 - No TP on 2nd trade – letting profit run and adjusting SL to follow price.
6 - When 1st TP hit – move 2nd trade SL to breakeven.
7 - Adjust the 2nd trade SL to follow price.
*8 – After Breakout candle – if price closes back into chart pattern close trade don't wait for SL to be hit.
*9 - When breakout candle is more than 1 ATR from breakout candle open.
a - Enter 1st trade at candle close with ½ position size.
b - Enter 2nd trade with a pending limit order that is 1 ATR of breakout candle open.
c – Price should pullback to that pending limit order for 2nd trade.
d – If Price returns back into chart pattern close trade before SL is hit.
Palladium - longer term bearishCalling tops in a massive uptrend has caught me out a number of times but I can't help looking at this chart and thinking that it needs another leg down to complete a correction. The massive leg down from the beginning of the year looks a clear 5 wave move to me (impulsive) while the move up from March looks corrective (to me at least). Lots of fib measurements all zeroing on at the 2600 level so lets wait and see......
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PALLADIUM BUYPALLADIUM
SELL
ENTRY 2315.00
TP 1: 2380.00
TP 2: 2440.00
TP 3: 2500.00
STOP LOSS 2240
Palladium requires a large Stop Loss
Palladium - Potential for some more upside action TVC:PALLADIUM
After a massive dump, over 6% on the 11th Nov, we are seeing great support at $2300 to $2350.
Based on the MACD and the RSI indicators, we can conclude that the downside risk is lowered and the momentum is shifting back to the upside.
Great entry points for a potential breakup are between $2330 to $2350.
Break up take profits are as follows:
TP1 - $2391
TP2 - $2415
TP3 - $2490 (Back to last weeks swing highs
Stoploss - $2301 (Just below the dump)
If the DXY ( TVC:DXY ) breaks up above $23 and closes (4hr or D1) then this trade will be under pressure and should reconsider.