Palladium futures market in strong uptrendIn the Palladium commodities market, on the Daily chart, the price is in a strong uptrend. Relative Strength Index indicator pushed lower and closed below the sixty line. This indicates that a slight retracement is due, and I expect the price to come back to a heavy volume area. I dropped down to the 30-minute chart to tighten my entry in hopes that I will receive a better risk-to-reward ratio.
PA1! trade ideas
Palladium bearish prediction on daily retracementAfter Palladium has had a recent correction it retracted to 0.786 fib, in fact it ran some further and triggered some stops in typical fashion. Right now it is below
that line. Notice the large top wick of 62 points (worth $6200 for one contract) . This is an indication that bears are still in control for now. Shorting here will give you a nice risk reward ratio.
Disclosure : I am 2 contracts short as of today
Palladium | Exponential GrowthPlease support this idea with LIKE if you find it useful.
Initiate Short.
Entry - 2274.4
TP - 1953.9
SL - 2318.4
Reason: Exponential growth with overbought RSI. Plus pay attention on Ichi Cloud that
became thiner - the growth became weak. Seems the price was already rejected. At least the price should take a correction.
Thank you for reading this idea! Hope it's been useful to you and some of us will turn it into profitable.
Remember this analysis is not 100% accurate. No single analysis is. To make a decision follow your own thoughts.
The information given is not a Financial Advise.
Near-term Top in for Palladium?Very likely near-term high for #palladium is in. Price top-ticked the rising channel resistance from 2016 as well as the top of the channel from Aug. Expecting a pullback thru yr end to $1800, which would be an interesting opp to add long @ horizontal & channel support $PALL
PALLADIUM, GET IN THE DIP1590~1600. the important price level that i will be looking at.
1] uptrend - bullish, above 200MA
2] 50% FR point
3] Previous highly important "top"/resistance turned support
4] will look for simple confirmation to get in
i believe this is a very rigged market. do always place a stop loss and trade safely.
Palladium - Bearish DivergencePalladium currently trades at the key psychological overhead resistance of 1600 with the RSI signaling bearish divergence, meaning, the price makes a higher higher however this is not confirmed by a higher high on the RSI. Traders should take caution around current levels.