Not a lot specific believe or view behind this post, apart from technicals.
Over the last few weeks we were trading inside a triangle, mostly shaped by a huge collapse early in march and recovering afterwards. We broke out of the triangle last week. Palladium tends to trade down in a weakening economy, which is where we are heading given all the recent news.
We had lower highs, higher lows, then breakout of the triangle, trading down and setting now low, retesting upside now and we have some EMA's hanging, together with the falling trendline .
Wait till Palladium enter's the red zone, and sell with your own prefered SL/TP.
Trading is not about copying but about forming your own opinion.
Over the last few weeks we were trading inside a triangle, mostly shaped by a huge collapse early in march and recovering afterwards. We broke out of the triangle last week. Palladium tends to trade down in a weakening economy, which is where we are heading given all the recent news.
We had lower highs, higher lows, then breakout of the triangle, trading down and setting now low, retesting upside now and we have some EMA's hanging, together with the falling trendline .
Wait till Palladium enter's the red zone, and sell with your own prefered SL/TP.
Trading is not about copying but about forming your own opinion.
Comment:
Rejection of 200 Daily EMA and head and shoulder pattern. Even more confirmation on sell opportunity.
