XPDUSD is changing the pattern.
XPUSD has been moving at a up chanel, with a very clear pattern and stable time frame.
right now we are at the 3rd part of this movement, it's about to end soon.
But the last move will be the biggest move, so I assume shorters who got caught at 695 to 722, wont have a chance to get away.
The top of the last would be around 850...
I am looking to enter a short on Palladium in the near future for the completion of the AB=CD pattern shown on the chart. Today has been an extremely bullish day although it seems like it may have finally taken a breather around 782. I will likely be looking for entries on lower time frames which correspond with this longer time frame idea once I have seen...
Opened another long position this morning as consolidation appears to be finished.
It's possible I am early and the handle extends but I believe the low of the consolidation is in @ 738
In my view a break of 760 today signals the handle is complete, otherwise it may continue range bound a bit longer
One eye on US dollar for this trade,continued weakness should...
Someone asked an advice in chat about Palladium LONG (with TP@756.00) and thought to provide my personal point of view with a more organic answer...
The instrument is uptrend on the long term, but it looks indecisive at the moment; from the chart we can see it is in a range between two Fibonacci levels (and one of them is a resistance as well).
If we entered...
After 7 red days in a row & 3 red weeks, Fri saw an inside/doji HOD @ $660.35 that broke to the upside on the open last night.
In addition consolidated with a higher low on the Daily $652.15 and had previous support at that level in Sept
I am trying a swing for several days/possibly weeks, targeting 20DMA for starters @ $719.74 and will re-assess PA at...
A closed price above 735 could bring Palladium continue its steep uptrend to next resistance trendline. Oppositely, the potential triple top and weakening MACD could stop its recent upforce and retrace back. Keep watching this.
