Is Palladium finally running out of steam?SHORT - XPDUSD
SL: 1811.95 (Suggested by our algorithmic system)
SL: 1832.00 (Safer option, personal suggestion)
TP: 1697.89
Reasons behind this idea:
1. Support trendline is subjectively broken.
2. MACD and Stochastic indicators have crossed down, bearish.
3. Minor RSI bearish divergence.
---------- Chart Drawings ----------
Blue Dotted Line: Broken Support Trendline (New Resistance Trendline)
Blue Solid Line: Next Supporting Trendline
Red Solid Line: Previous Resistance Trendline
Purple Line: Stoploss suggestion from our algorithmic system
Green Line: Take Profit suggestion from our algorithmic system
Red Arrow: Bearish Divergence
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PALLADIUM trade ideas
XPDUSD Intraday 6000pip sell signalAll indicators are co-centric and negative. All 4 averages cross below price in succession from shortest-term to longest term, indicating a high volume (large momentum) uninterrupted sale transaction;
The time frame of the event implies either news or selloff/take profit action rather than slow in industry demand.
Short PalladiumI have nothing much to say in these kinds of graphs
With auto industry falling, global economic slowdown (its exaggerated but it is happening for sure), and consumer spending and industrial manufacturing falling, I think palladium might be getting exhausted with this rise.
Palladium is used mainly in 4/3 way catalytic converters along with rhodium.
Yes they are rare metals and found mostly in russia and south africa, but with auto demand falling, i dont see a reason why the demand should not fall
Technical indicator - Overbought
Short palladium 1780
Tp1 1750
Tp2 1710
perfect continuationAs predicted palladium is making new highs and thrashing records. he cupd and handle is way too obvious and this shows its power.
Will be looking at least 2000 in the midterm. Look for a parabolic move that will send this metal sky high. It will determine the end of this rally. Sell ANY parabolic move from here.
Palladium Over Priced !Hi there;
I try to see precious metals through different lenses, happy for you joining me and see things differently.
The above chart is the Palladium / Platinum Ratio, it shows how Palladium is expensive, and how Platinum is cheap.
The Palladium / Platinum Ratio rose from 0.2 to 1.7 today.
Buy Platinum, it's very cheap.
Avoid Palladium for now, it's very expensive.
Palladium Down !Hi everyone;
Did you see Palladium monthly chart?
Palladium price is forming a rising wedge.
Till now, five subwaves were counted, I expect additional two subwaves to come before the wedge complete.
Why?
It's a natural behavior to corrective waves to unfold in seven subwaves.
Also look at PPO Indicator ( Percentage Price Oscillator), it forms a contracted triangle with lower highs and higher lows, this indicates that as soon as the triangle break, the next move will be strong.
As soon as the rising wedge complete, Palladium Price will decline.
This is not a good time to buy Palladium.
Opportunity To Short Palladium Hi All,
Sharing another my trade plan to short Palladium. It been having a nice run, and it may be time for a correction.
It's a very "sensitive" commodity ( lots of long candles) so consider this as you set your stop losses. I'm not an
expert or a financial adviser, so please trade at your own risk. Good luck!
- Kayj9009 -