3.15.23 Palladium made a long series of lower lows and lower highs until it traded down to the 618 retracement, I showed you how to draw a channel line using Andrews Forks,,, because it was easy to demonstrate on this particular chart. normally I do not like nor do I use channel lines at this stage of my life. In this case however it's significant that price...
Trend:Downtred
Trendline: lower high and lower low prominent
Short on strength or short immediately as there are big bearish candles also touched the FIB level of 0.382,
last lower low has been borken as well, though not a clear closing but wick can be seen
SL: 1439.50
EP:1355
TP:1271
Our Manual Systematic Program is opening new Palladium short positions.
Sell stop: 1444.5
Guaranteed trailing stop: 0.3% of our portfolio for the first position; 0.6% if second.
Take profit: Guaranteed trailing stop.
Financial engineering: A-book CFDs (Global Prime)
my watch list has all future contracts sorted by setups:
www.tradingview.com
at the moment most of them are in short setups.
using re-entry signals allows me to keep adding to those clear setups.
Descending triangle has formed on the weekly chart for Palladium
Last week, was a breakout to the downside.
200 >21> 7 - Red background
RSI <50 lower highs
Bearish
Target $880
WHY WOULD Palladium go down?
I can't tell you with any certainties why it's coming down but I can think of a few potential factors like:
~ Lower demand for Palladium as an investor point...
Title: Palladium Futures ( PA1! ), H4 Potential for Bearish Drop
Type: Bearish Drop
Resistance: 1839.0
Pivot: 1640.5
Support: 1734.5
Preferred case: On the H4 chart, we have a bearish bias. To add confluence to this, price is crossing below the Ichimoku cloud which indicates a bearish market. If this bearish momentum continues, expect price to possibly break the...
Title: Palladium Futures ( PA1! ), H4 Potential for Bullish Rise
Type: Bullish Rise
Resistance: 1835.0
Pivot: 1734.5
Support: 1656.5
Preferred case: On the H4 chart, we have a bullish bias. To add confluence to this, price is crossing above the Ichimoku cloud which indicates a bullish market. If this bullish momentum continues, expect price to possibly continue...
Title: Palladium Futures ( PA1! ), H4 Potential for Bearish Drop
Type: Bearish Drop
Resistance: 1835.0
Pivot: 1744.0
Support: 1656.5
Preferred case: On the H4 chart, we have a bearish bias. To add confluence to this, price is crossing below the Ichimoku cloud which indicates a bearish market. If this bearish momentum continues, expect price to possibly break the...
Title: Palladium Futures ( PA1! ), H4 Potential for Bearish Drop
Type: Bearish Drop
Resistance: 1835.0
Pivot: 1744.0
Support: 1656.5
Preferred case: On the H4 chart, we have a bearish bias. To add confluence to this, price is crossing below the Ichimoku cloud which indicates a bearish market. If this bearish momentum continues, expect price to possibly break the...
Looking at the H4 chart, my overall bias for PA1! is bullish due to the current price being above the Ichimoku cloud, indicating a bullish market. Looking for a buy entry at 1758.5, where the 38.2% Fibonacci line is. Stop loss will be at 1709.5 where the recent low and 78.6% Fibonacci line is. Take profit will be at 1840.0, where the recent highs, equal highs and...
Looking at the H4 chart, my overall bias for PA1! is bearish due to the current price being below the Ichimoku cloud, indicating a bearish market. Looking for a possible sell stop entry at 1750.0, where the 50% Fibonacci line is, to ride the bearish momentum downwards. Stop loss will be at 1842.0 where the recent high is. Take profit will be at 1656.5, where the...
Looking at the H4 chart, my overall bias for PA1! is bullish due to the current price crossing above the Ichimoku cloud, indicating a bullish market. Looking for a buy entry at 1840.0, where the recent highs are. Stop loss will be at 1750.0, where the recent low is. Take profit will be at 1955.0, where the 88% Fibonacci line is.
Please be advised that the...
Looking at the H4 chart, I have a bearish bias for PA1! because the current price is below the Ichimoku cloud, indicating a bearish market. Price has tapped into my pullback sell entry at 1838.5, which is the 50% Fibonacci line. The stop loss will be set at 1955.0, which is the 88% Fibonacci line. The take profit level will be 1654.0, which is the recent swing...
Title: Palladium Futures ( PA1! ), H4 Potential for Bearish Drop
Type: Bearish Drop
Resistance: 1917.5
Pivot: 1744.0
Support: 1656.5
Preferred case: On the H4 chart, we have a bearish bias. To add confluence to this, price is crossing below the Ichimoku cloud which indicates a bearish market. If this bearish momentum continues, expect price to possibly head back...
Title: Palladium Futures ( PA1! ), H4 Potential for Bullish Rise
Type: Bullish Rise
Resistance: 1917.5
Pivot: 1744.0
Support: 1656.5
Preferred case: On the H4 chart, we have a bullish bias. To add confluence to this, price is above the Ichimoku cloud which indicates a bullish market. If this bullish momentum continues, expect price to possibly continue heading...
Looking at the H4 chart, I have a bearish bias for PA1! because the current price is below the Ichimoku cloud, indicating a bearish market. Looking for a potential pullback sell entry at 1838.5, which is the 50% Fibonacci line. The stop loss will be set at 1955.0, which is the 88% Fibonacci line. The take profit level will be 1654.0, which is the recent swing...
