IvanLabrie
Long

Palladium: Staging a rally from oversold

NYMEX:PAH2016   PALLADIUM FUTURES
Palladium             has a very interesting setup, I'm looking to enter longs in this instrument very soon.
If you can't trade palladium futures             , you can trade PALL, the etf . Try to keep risk at 1% per trade.
The entry would be a buy stop confirming the rally, for specifics about entry, stop and trade management contact me privately.
You can trade with your own strategy, if your analysis matches mine as well.
Good luck!

Cheers,
Ivan Labrie.
Trade active
Comment: This contract got first day notice yesterday, you'd have to move to April. This is the continuous contract chart:
snapshot

We're retesting the mode support. Take off might take a couple more days.
Comment: Failure to rally is a concern. I'll wait a bit more.
Comment: Good progress here, trail stop to entry, and safe to add on retrace perhaps.
Comment: You can close partially if you bought on retrace today.
Trail stop to the previous daily low.
Comment: Stopped out at our trailing stop location. Overall good profit. Now looks like it could break down.
Stay out until we get more clarity.
Comment: Slow grind up.
Trade closed: target reached: Target hit, I reccomended banking here.
Comment:
snapshot


We can reenter longs here.
What I like is this initial spike setup.
+1 Reply
moorekapital moorekapital
With Swing stop at the very low, one can worry no more. Its either your're taken out on stop =which means, you were wrong. Or it works for you. But, the reward would be small from the start. But That's why we must add, when the trade works. If from this start point, and you begin to talk about putting tight stop and what not, then you're simply one who gets excited being taken out on trades often.
Reply
IvanLabrie PRO moorekapital
I wouldn't use a stop under the low here. The target isn't that big (and it's not the setup I'm looking at)
+1 Reply
moorekapital IvanLabrie
Very well, that's how I would handle it. Im a bit conservative though ;)
Reply
moorekapital moorekapital
Depending.....if the momentum becomes this strong, this seemingly high volume resistance up there, where you have your target could be toppled. I just love conservative stops cos it allows me to give the market a breathing space to do its thing. Tight stops, nice rewards, yes, but could be frustating , seeing losses in chains ;)
Reply
IvanLabrie PRO moorekapital
If I use a different stop I'm not using time at mode, hence, the setup.
Reply
moorekapital IvanLabrie
You are right.
+1 Reply
Very nice.. RgMov is excited!
+1 Reply
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