Hello traders.
After new all time high record Palladium turn down sharply and then it makes a correction. I put an entry order below previous bottom with stoploss above last top, because we have broken trendline. When it is tagged, I will move the stoploss above the correction (for now 1050). My long term forecast:
Target is huge. Even if it makes a lower degree correction 0.50 retracement is 800.
After new all time high record Palladium turn down sharply and then it makes a correction. I put an entry order below previous bottom with stoploss above last top, because we have broken trendline. When it is tagged, I will move the stoploss above the correction (for now 1050). My long term forecast:
Trade active
Trade active:
My second trade is active now and stoploesses of both trades are 1003.
Comment:
Second trade stopped out at breakeven. First trade's stoploss is still at 1003.
Comment:
The strucuture between yellow lines can be a running flat. That's why I put an entry order for more down side. First trade is still on.
Comment:
Stopped out with profit.
It looks like another correction is in the making. I put an entry order below last bottom with stoploss at above correction. When it tag my order, I will move my first trade's stoploss to same level with new trade's stoploss. If you don't have a short trade from top, this entry will be riskier for you. So, waiting for bigger correction can be better.