xpdusd .., triple bottom @ 1541.400

currencynerd Updated   
OANDA:XPDUSD   CFDs on Palladium
Palladium (xpdusd)

analysis + possible trade setup !

since march 2022 price has been mostly trading to the downside and is currently trading in a corrective rising wedge with supply level @ 2256.200 in control indicating that current market momentum is bearish.

price trading below the support trendline of the wedge pattern but has not yet formed a full OHLC candlestick to confirm breakout and further downside movement.

if this week candlestick closes below support trendline , i will be looking at shorting opportunities of lower time frame supply / violated demand zones now turned supply

short targets all the way down to monthly demand CP @ 1541.400 which is a level that price has tapped into 2 times already but failing to breakout and close below the level.

supply and demand

put together by ; Pako Phutietsile
presented by : @currencynerd
courtesy of : @TradingView

The Nobel Prize in economics belongs to Satoshi Nakamoto
Trade closed: target reached


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