XPD USD - Sold-off relative to Gold/Silver- Crossing-up Monthly
Updated
https://www.tradingview.com/x/BvOrUk1d/
See here for Palladium which I am also keen on for Long-hold going into Mid-September.
Note the monthly RSI oversold & starting to cross-up on the Oscillator
The monthly Stochastic is doing the same!
Below is a Weekly-chart for Palladium
See my wedge lines broken in grey. See how price has crossed-up & wants to now move higher, backed by Weekly-Stochastic-Divergence & I like the Weekly MAC-D with 2 x cross-ups recently, that is usually a very good sign when you get 2 x like that.
See my yellow 9EMA which I soon see crossing above my dark-blue 50 EMA. That is a super-bullish cross when that occurs & when it occurs on the weekly chart....look-out! Price will be very explosive upwards.
Guys, I have only just now looked at the mid-time-frames. But what I see comes as no suprise because I start at the very high-time-frames & work down. It is so huge and bullish on the Monthly & Weekly it does not surprise me to see this on the 4HR.
That is, a very bullish Head 'n' Shoulders pattern on the 4HR which also appears to have retested & will explode upwards through the neckline in Monday trading, I would say 9 to 1 chance.
Here is the almost exact same setup on the 2 HR.
A 30 minute Chart is also sweet with EMA confluence and the 15M chart is similar.
I will put out a Long trade on this during Monday trading no doubt.
So far we have Silver & Palladium. I am 'holding-on' to the 4 x Gold long position I have & I hope to ride them into the end of September when I see the next possibility for a correction in the Gold price.
Regards,
Chris.
* Trading is risky. Please don't rely solely on my financial advice.
* If you do take any of my trades, I suggest you only ever risk 0.25% - 0.5% of your total Capital on any given trade.
My trades have fantastic RR. Not this 1:1 crap you will get from a subscription service. But it's much more than my ego.
Here is why:
Say you risk 2% per trade like the gurus tell you.
If you have a 20K account & have 10 losing trades in a row, your account diminishes by $4000, so you now have a 16K account.
If you risk 0.25% per trade as I suggest. Here is the maths.
If you have a 20K account & have 10 losing trades in a row, your account diminished by a mere $500 compared to losing $4000 when you risked 2%.
You now still have $19,500 and you have not ruined your Psychology.
I have been trading a long time & 0.25% to 0.5% seems to be the sweet spot.
See here for Palladium which I am also keen on for Long-hold going into Mid-September.
Note the monthly RSI oversold & starting to cross-up on the Oscillator
The monthly Stochastic is doing the same!
Below is a Weekly-chart for Palladium
See my wedge lines broken in grey. See how price has crossed-up & wants to now move higher, backed by Weekly-Stochastic-Divergence & I like the Weekly MAC-D with 2 x cross-ups recently, that is usually a very good sign when you get 2 x like that.
See my yellow 9EMA which I soon see crossing above my dark-blue 50 EMA. That is a super-bullish cross when that occurs & when it occurs on the weekly chart....look-out! Price will be very explosive upwards.
Guys, I have only just now looked at the mid-time-frames. But what I see comes as no suprise because I start at the very high-time-frames & work down. It is so huge and bullish on the Monthly & Weekly it does not surprise me to see this on the 4HR.
That is, a very bullish Head 'n' Shoulders pattern on the 4HR which also appears to have retested & will explode upwards through the neckline in Monday trading, I would say 9 to 1 chance.
Here is the almost exact same setup on the 2 HR.
A 30 minute Chart is also sweet with EMA confluence and the 15M chart is similar.
I will put out a Long trade on this during Monday trading no doubt.
So far we have Silver & Palladium. I am 'holding-on' to the 4 x Gold long position I have & I hope to ride them into the end of September when I see the next possibility for a correction in the Gold price.
Regards,
Chris.
* Trading is risky. Please don't rely solely on my financial advice.
* If you do take any of my trades, I suggest you only ever risk 0.25% - 0.5% of your total Capital on any given trade.
My trades have fantastic RR. Not this 1:1 crap you will get from a subscription service. But it's much more than my ego.
Here is why:
Say you risk 2% per trade like the gurus tell you.
If you have a 20K account & have 10 losing trades in a row, your account diminishes by $4000, so you now have a 16K account.
If you risk 0.25% per trade as I suggest. Here is the maths.
If you have a 20K account & have 10 losing trades in a row, your account diminished by a mere $500 compared to losing $4000 when you risked 2%.
You now still have $19,500 and you have not ruined your Psychology.
I have been trading a long time & 0.25% to 0.5% seems to be the sweet spot.
Trade active
Long Palladium:
Entry Price: To be determined
Stop Loss: To be determined.
STOP around 947.10 appears the sweet-spot.
I think this trade will be 20+ R:R.... but I can't guarantee that guys.
Think about risking 0.25% - 0.5% of your total capital in your account on any single trade. You will stay in the game much much longer.
Cheers,
Chris
easy_explosive_trader
Note
Note on the 30M chart where price was consolidating in a sort of ascending wedge and the candles have broken higher.
The weekly chart and the monthly is where the real magic is guys.
This will be a solid explosive trade that I think will play out not just in the days ahead but the weeks.
Chris
Note
We will track the price as it ascends with a loose trailing stop.Note
Here is that bullish monthly chart. It did not populate before...
Note
This is still one of my buy-set-ups today XPDUSD.
I am watching this Head 'n' Shoulders Pattern which appears to have retested and is awaiting a breakout.
XPDUSD rallied in earlier trading in Asia today and it's price then retraced which is normal price action behaviour prior to this sort of HnS breakout.
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