A very bearish setup is developing:
Since the top, there is nowhere on the chart that has a whipsawing candle like this:
A very big Shooting Star!
This setup has my favourite conditions met:
- Whipsawing candle that sweeps liquidity through key resistance (2021)
- Tidy 1.618 Golden Window (1.618 - 1.786) - taking extremity pivots of Accumulation to draw the fib trendline.
Palladium has quite weak price action overall comparing to other metals and this very bearish whipsaw might be a signal for the overall metals market that we're passing through a major pivot.
This is also considering that SILVER may have topped at my 1.618 target @ $54:
And GOLD may perhaps also have topped after hitting the ultra long term 2.272 (image below is a previous thread I made - click to enter):
In addition news arrives that "Gold price pulls back from record as Trump eases trade concerns" - mining.com/gold-price-pulls-back-from-record-as-trump-eases-trade-concerns/
Interesting isn't it how this type of news arrives exactly as GOLD, SILVER and PALLADIUM all hit hit respective Phi ratio landmarks / significant resistances !
...
Palladium may chop, however it often dumps hard when it swings bearish - I doubt it can take out this candle wick high - and even if it did then it would still be very bearish.
The candle closes in a few hours.
And from here there is a possibility that this might be the next wave down, though I won't hold anywhere near that long.
In summary, we have multiple signals from Gold, Silver, Palladium and Trump tariff news that metals may be topping / hitting a significant peak.
I entered a short position here.
This analysis is shared for educational purposes only and does not constitute financial advice. Please conduct your own research and consider that crypto is a dangerous market.
Since the top, there is nowhere on the chart that has a whipsawing candle like this:
A very big Shooting Star!
This setup has my favourite conditions met:
- Whipsawing candle that sweeps liquidity through key resistance (2021)
- Tidy 1.618 Golden Window (1.618 - 1.786) - taking extremity pivots of Accumulation to draw the fib trendline.
Palladium has quite weak price action overall comparing to other metals and this very bearish whipsaw might be a signal for the overall metals market that we're passing through a major pivot.
This is also considering that SILVER may have topped at my 1.618 target @ $54:
And GOLD may perhaps also have topped after hitting the ultra long term 2.272 (image below is a previous thread I made - click to enter):
In addition news arrives that "Gold price pulls back from record as Trump eases trade concerns" - mining.com/gold-price-pulls-back-from-record-as-trump-eases-trade-concerns/
Interesting isn't it how this type of news arrives exactly as GOLD, SILVER and PALLADIUM all hit hit respective Phi ratio landmarks / significant resistances !
...
Palladium may chop, however it often dumps hard when it swings bearish - I doubt it can take out this candle wick high - and even if it did then it would still be very bearish.
The candle closes in a few hours.
And from here there is a possibility that this might be the next wave down, though I won't hold anywhere near that long.
In summary, we have multiple signals from Gold, Silver, Palladium and Trump tariff news that metals may be topping / hitting a significant peak.
I entered a short position here.
This analysis is shared for educational purposes only and does not constitute financial advice. Please conduct your own research and consider that crypto is a dangerous market.
Your FA guru can't read a chart💭
I run a technical group with lots of content every day + regular videos, 1:1, chatroom 🚀.
Better than all the rest? My record speaks for itself 💡.
Telegram Group: $50 per month✨.
Contact: t.me/dRends35
I run a technical group with lots of content every day + regular videos, 1:1, chatroom 🚀.
Better than all the rest? My record speaks for itself 💡.
Telegram Group: $50 per month✨.
Contact: t.me/dRends35
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Your FA guru can't read a chart💭
I run a technical group with lots of content every day + regular videos, 1:1, chatroom 🚀.
Better than all the rest? My record speaks for itself 💡.
Telegram Group: $50 per month✨.
Contact: t.me/dRends35
I run a technical group with lots of content every day + regular videos, 1:1, chatroom 🚀.
Better than all the rest? My record speaks for itself 💡.
Telegram Group: $50 per month✨.
Contact: t.me/dRends35
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.