Long
Descending Channel on Palladium @ H4
The descending channel pattern on H4 chart of XPD/USD provides a setup for a bullish breakout. The pattern's borders are shown with the yellow lines. The potential entry level - with the cyan line. The potential take-profit level - with the green line. Stop-loss is to be set to the low of the breakout bar (not shown on the chart).
More information, and an MT4 chart template can be found on earnforex.com/commodities/price-objective-for-bulls-in-case-palladium-rallies/
More information, and an MT4 chart template can be found on earnforex.com/commodities/price-objective-for-bulls-in-case-palladium-rallies/
Trade closed: target reached
I didn't trade this set-up, but it looks like it has reached the take-profit safely.
You can find useful tools to detect, build, and trade chart patterns - all completely free on earnforex.com.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
You can find useful tools to detect, build, and trade chart patterns - all completely free on earnforex.com.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.