There is plenty of volatility in the markets due to current events happening around the world right now and Palladium is an example of this.
An all-time high was created in May 2021 at $3017. Price then went into consolidation using the weekly 200 simple moving average as support.
From there, we have seen a gradual increase in price, and by the end of February, price was just $7 shy of the all-time high.
The second week of March saw the breakout we were all anticipating, but this was short-lived as price has now retreated back into the consolidation zone.
This is the very reason why we wait for confirmation following a breakout before jumping into positions after a long period of consolidation. This is something we make our members aware of.
Many traders and investors would have taken a position in Palladium as soon as it broke out but we understand that when price consolidates for a lengthy period of time, it could form a fake breakout.
We will continue to stand aside until our confirmation is met and preserve our capital in the meantime so that we can use it for high-probability opportunities.
See below for more information on our trading techniques.