littleriver

Palladium is making a run.

NYMEX:PA1!   PALLADIUM FUTURES
901 22 6
This is a chart of palladium             with some recent breaks to the upside highlighted and the palladium             play PAL at the bottom. I would like to thank JR for showing me this play. Not sure this is the big one but a move north it is. Looking back crossovers in the MACD have usually lead to big moves in this metal. We have a crossover now and PAL is following with a breakout of it's own.
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littleriver QuantitativeExhaustion
3 years ago
Thanks JR. Looking at both Platinum and Gold they appear poised for a move too and soon.
Each of them is painting what I would call dumpling bottoms( cups on a small scale). Gold painted what is close enough to a morning star for me today to be convincing a reversal is imminent. Platinum too is painting reversal signals in the sticks. They still need to be confirmed like palladium. If they make moves anything like palladium, it is going to get exciting in metals. How long lived they are is anyones guess.
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QuantitativeExhaustion PRO littleriver
3 years ago
Just watched CNBC and everyone is bearish on gold and metals. Surprised but maybe not. I think temporary gold/metals low was today. I'll have to look at your dumpling bottom. I hope your right about the imminent low in gold/silver. I'm in heavy with miners and GLD/SLV. Looking for China Industrail results later tonight/tomorrow as a trigger.
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littleriver QuantitativeExhaustion
3 years ago
What should we be looking for in those number JR?
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QuantitativeExhaustion PRO littleriver
3 years ago
anything near 0 would bump metals. IF we see a surprise +, look out


The Producer Price Index released by the National Bureau of Statistics of China is a measurement of the rate of inflation experienced by producers. It captures the average changes in prices received by Chinese domestic producers of commodities in all stages of processing (crude materials, intermediate materials, and finished goods). Changes in the PPI are widely considered as an indicator of commodity inflation. If the Producer Price Index increase is excesive, it would indicate that inflation has become a destabilizing factor in the economy, The People’s Bank of China would tighten monetary policy and fiscal policy risk. Generally speaking, a high reading is seen as positive (or bullish) for the CNY, whereas a low reading is seen as negative (or bearish) for the CNY.
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QuantitativeExhaustion PRO littleriver
3 years ago
http://www.fxstreet.com/fundamental/economic-calendar/
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littleriver QuantitativeExhaustion
3 years ago
Thank you Jr for the education and link. Both are appreciated. I will be watching.
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QuantitativeExhaustion PRO littleriver
3 years ago
Here is another important link.. metals often hit highs/lows and have volatile days when we reach last trading days.

http://mediaserver.fxstreet.com/Reports/27110bbc-2088-4a8e-9caa-4a40c21cc042/calendar_20130301080510.png
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littleriver QuantitativeExhaustion
3 years ago
I owe you once more. Thank you! Fantastic calendar, I definitely will use. News often makes or breaks the day.
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QuantitativeExhaustion PRO littleriver
3 years ago
I agree, big news and big event triggers big price movements. If trading metals, good idea to print this and paste up next to your monitor.
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littleriver QuantitativeExhaustion
3 years ago
Looking at the chart it appears consensus is they are not expecting much change in the PPI.
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meos QuantitativeExhaustion
3 years ago
Thanks for the link - I've been looking for something like this for a while.
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no problem
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littleriver QuantitativeExhaustion
3 years ago
Here is a link for you. Seems I am incorrect it is a fry pan bottom and dumpling top. Check this link and see if it looks anything like the Gold chart today.

http://blackswanfx.blogspot.com/2012/12/dumpling-top-and-frypan-bottom.html
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QuantitativeExhaustion PRO littleriver
3 years ago
went offline.. no it doesn' look like a fypan. does seem to be rounding though with a hint of divergence
snapshot
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littleriver QuantitativeExhaustion
3 years ago
Me too.......now I am up way too early. That is the beauty of this type of analysis, it is always open to interpretation. It really isn't a frypan without confirmation. An open monday with a gap(even the smallest gap) between the doji and mondays claw would confirm it. Look at the upper wicks of the last six candles. Less than 4 dollars separating the last six days of trading. Not perfectly flat but very close to it when one considers the size and scale of the gold market. Next week maybe we will get some answers.
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littleriver QuantitativeExhaustion
3 years ago
Back in the end of september this whole run south on gold started with what one might loosely call a dumpling top. Messy as it is; it has the gap to confirm the top.
snapshot
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QuantitativeExhaustion PRO littleriver
3 years ago
Nice example... I have to memorize these candlestick patterns so I can use them on the min charts
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littleriver QuantitativeExhaustion
3 years ago
I have not been using long myself. But I can really see a difference now that I am. Kay Kim founder of "2 trader club" recommended Steve Nison's book "Japanese Candlstick Charting" and i haven't looked back. Really good book. Here is a link to a pdf version of the original book, There is a second edition out now.

http://rnd.psychonauticresearch.com/Reading%20Room/Japanese%20Candlestick%20Charting%20Techniques%20by%20Steve%20Nison.pdf
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QuantitativeExhaustion PRO littleriver
3 years ago
I owned this book a few years ago. Let someone borrow, you know how that goes. I have Nison's second book Beyond Candlesticks. Thanks for the PDF. I'll reread what I haven't got down already.
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meos
3 years ago
Volume has died on this in the past couple days. Hopefully they buyers will come back.
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littleriver meos
3 years ago
It got ahead of itself . Volume wasn't great at the start either. And on flags it is not uncommon to see a pullback on volume before the move up. I would like to see the price higher and tighter but watching closely to see what it does as the 10 EMA gets closer. I really would like to stay above that number but not a given. MACD still looking good for more to come.
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