Just a sweet position to take with such great r:r. It couldn't make a new high yet and has a good probability to turn this a double top swing failure with some resistance confluence, ABCD and some divergences.
I believe we reached a double top in the Palladium Chart. Also the fundamentals in the car industry and economy in general are getting worse which also supports the upcoming downtrend in palladium.
Looking Forward to hear some of your comments about my idea.
Last post: June 25th 2019. See chart.
Review: Price was moving towards resistance.
Update: Price has now started to pull back and is approaching the support level.
Conclusion: If price comes down to support and that level holds, then we may see another move to the upside.
Any comments or questions, do not hesitate to leave them below. Give us the thumbs up...
Once $1500 on the September futures breaks, I expect a quick and decisive fall to $1300. Additional things I see which makes this a high conviction trade:
1.) Seasonal pattern for XPDUSD is usually weak in mid-July until mid-August/early-September
2.) $1500 was a major breaking point in March as well. Once prices broke that level, the selling came in swiftly.
Hello Traders, XPD/USD Palladium 1578.418 VS 1311.485
Blue: Developing a Bigger Corrective / Consolidation / Continuation Pattern
for further upside movement breaking all time high's 1578.418 / 1311.485 VS 1827.393 / 1705.807.
Yellow: Looking for smaller continuation / corrective pattern for current impulse to break 1578.418.
Red: Red: Consolidation /...
Just to share some thoughts.
The World Platinum Investment Council has reduced its surplus supply forecast by close to 50% for 2019 due to investment demand. Bear in mind that it is still in surplus, so I don't imagine that the bottom is in yet.
Platinum outperforms gold in good times and bad. Since 2003 Platinum significantly out-performed gold...
Last post: June 17th 2019. See chart.
Review: Price broke through the first resistance level.
Update: Price is now approaching the next resistance level.
Conclusion: If price breaks through resistance then we should see a resumption of the bull trend and plenty of trading opportunities.
Any comments or questions, do not hesitate to leave them below. Give...
Palladium started its Downtrend after reaching the top of its Uptrend on June 20 @ 05:00. Now we are at our second lowest High peak of the descending channel with signs of continuous falling.
Downtrend continuation will be confirmed when price falls below 1499.712 then solidifying the move once price falls below 1495.030. Both MACD and RSI show potential upside...
Last post: June 12th 2019. See chart.
Review: Price bounced off support and found momentum to the upside.
Update: Price is currently at resistance but struggling to get through so far.
Conclusion: If price makes it through resistance then we should see further moves to the upside.
Any comments or questions, do not hesitate to leave them below. Give us the...
Last post: April 30th 2019. See chart.
Review: Price was stuck in the consolidation zone.
Update: Price has found support and showing strength to the upside.
Conclusion: As price is approaching resistance we may see a breakout followed by further bullish moves.
Any comments or questions, do not hesitate to leave them below. Give us the thumbs up if you...
Since recapturing its 200DMA back in February, IVANHOE MINES LTD - TSX:IVN has been trending sideways and in the process, building-out a massive base as we can observe from the Daily chart above.
Additionally, IVN continues to trade above all of its important moving averages 20/50/200 and remains in fine technical shape.
Furthermore, if one were to zoom-out to...