Another of our favourite patterns, the Cup & Handle, which this time breakout on the ETF that derived from Palladium, one of the commodities that we trade among metals, sometimes with Futures Contracts and other with ETFs.
In this case a pattern of continuation was formed in which the price tested twice the resistance and then had a breakout in an...
Palladium has had a fantastic run for 2019 so far, primarily driven by declining global supplies mixed in with rising global demand. In fact, as a result of this trend, the metal has been up 24% so far year-to-date.
However, despite this the stellar trend, recent price action has shown that the rally may be running out of steam. As can be seen, though the price...
Pall has seen a major bull run lately.
Volume is declining.
Divergence is forming but has bounced previously.
I understand that scarcity of this metal but it needs a healthy pull back before continuing further.
Additional real use and applications for this metal would help boost the next leg up.
1. still in the bull trend, without any big pullback
2. the recent bars look so familiar to those of 16 Nov. to 07 Dec.
3. its pullbacks stop either at the support line or ai the former tops.
We all know the story of the 3 little piggies who got chased by the Big Bad Wolf. The Big Bad Wolf, hungry and ever ready for a good meal, approached each little pig's house and from the depths of his longs howled out
"Little pig, little pig, let me come in."
"No, no, by the hair on my chiny chin chin."
"Then I'll huff, and I'll puff, and I'll blow your house...
Title says it all. Palladium bottom of the channel that it has been in since may 2016. This trade offer attractive Risk to reward of ratio 5.88. Stop loss can be placed tight. Recommend you use capital management, as this is a high risk trade.
Price in Palladium looks to have taken a potentially more bullish posture than my base case. Green (iv)-(v) of 5 of (3) didn't play out, retracing too deep. I stopped out of PALL for a 9% gain, leaving some on the table.
Blue alt: The past two days are a good start on setting up a much larger wave (3), measured projection off the blue alt 1-2 indicated. Wave...