XPDUSDXPDUSD: the chart in a consolidation phase. and mentioned proper support and resistance level. and put a pending order.
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XPD ON A BULLISH TREND TO THE UPSIDEHello Traders & Hodl'ers!
I wanted to bring our attention to a precious metal called Palladium (XPD)
It's a very interesting chart as it has pronounced Elliot Waves which can be clearly counted.
Based on my analysis, we are nearing the end of subwave 4 of 3, seeing a nice reaction from our 1.618 F
XPD selloff has no indication of coming to and end.Palladium - Intraday -
We are trading at oversold extremes.
Daily signals are bearish.
There is no indication that the selloff is coming to an end.
Previous support at 1405 now becomes resistance.
We look for a temporary move higher.
50 4hour EMA is at 1408.
We look to Sell at 1403.4 (stop
Heads up : $XPDUSD palladium to check next week $XPDUSD small breakout of top bear trend line next month to watch ! a buy is possible
Palladium daily EMA keeps on attracting sellers.We are trading at oversold extremes.
20 1-day EMA is at 1494.
Bullish divergence can be seen on the daily (the chart makes a lower low while the oscillator makes a higher low), often a signal of exhausted bearish momentum, or at least a correction higher.
We look for a temporary move higher.
Pref
PALLADIUM LONG IDEA (MID TERM)Idea: Long around 1500 - 1560 range (RR Ratio 3+)
Reason: Rebounded off key support 1540, 1h 2h 4h daily candle shows potential signs of retracement
Additional indicators used to support the case: Double bottom, Awesome Oscillator in 1h 2h 4h signals an upcoming correction
TP: Based on key resistanc
xpdusd .., triple bottom @ 1541.400Palladium (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
Palladium at 60-week low.Palladium - Intraday - We look to Sell at 1588.5 (stop at 1611.9)
Trades at the lowest level in 60 weeks.
We are trading at oversold extremes.
There is no clear indication that the downward move is coming to an end.
Previous support at 1590 now becomes resistance.
We look for a temporary move
Will XPD find support at oversold extremes?Palladium - Intraday - We look to Buy at 1646.1 (stop at 1626.3)
We are trading at oversold extremes.
Bespoke support is located at 1650.
Offers ample risk/reward to buy at the market.
With signals for sentiment at oversold extremes, the dip could not be extended.
Our profit targets will be 1
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