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XPDUSD

XPDUSD | Shooting StarPlease support this idea with LIKE if you find it useful. Initiate Short. Entry - 2413.510 TP1 - 2140.442 TP2 - 1967.684 SL - 2502.676 Reason: Exponential Growth, Shooting Star reversal Pattern. The price is overbought According to RSI. Risky: Remember this is a risky setup despite market shows us irrational behavior and previously we got stopped out. 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.
OANDA:XPDUSDShort
by Anpu
2
Gimme a break, PalladiumImagine you had held onto this metal since Nov 2008 till now, you would have made 1200% return on your capital. Go take a look at the weekly chart and you can see its parabolic move, hardly much correction along the way. Again, this is a counter-trend strategy, a short term trading set up at best since nobody can tell you where is the top of Palladium. For now, I see some resistance at 2145 level. 9 & 10 Jan 2020 candles were a signal and the subsequent bullish candles are getting shorter and shorter, signalling the bulls are exhausted. They need a rest or correction. The aggressive sellers can sell now at 2145 or wait for it to break down the support at 2109. You can also wait for it to break down from the bullish channel for a higher safety of margin. Trade safely
OANDA:XPDUSDShort
by dchua1969
4
Palladium - CorrectionPalladium has confirmed a break of the uptrend line. To add to this signal, the top of this last move up coincides with the 161.80 fib extension level which could have been used as a profit taking level for longs. A correction from here down to the 1615-1600 level (previous resistance zone) makes sense and this would be an ideal area to look for longs. Shorting here is a risky option as it is a counter trend trade however previous corrections have been around 10-20% so a move down to the previous mentioned levels is a realistic scenario. Also there is an acceptable risk/reward ratio of approx. 1.4 if using the previous top as a stop loss level. This analysis is for my own reference. This is not trading or financial advice. Price Target 1615 ETA Early Dec
OANDA:XPDUSDShort
by armandoizquierdo
XPDUSD (Palladium): Long term action plan. Buy opportunity.Palladium is now on a new Higher High within the 1W Channel Up (RSI = 68.210, MACD = 65.770, Highs/Lows = 97.7642). Based on the similarities with the 2017 Channel Up and with the 1D RSI having reached a peak level (RSI = 66.981) it is natural to assume that a minor pull back is in place (1,600 projection) that will only fuel the uptrend on the long term within the Channel Up. Based on that our Target Zone on a 1 year horizon is 2,200 - 2,400. ** If you like our free content follow our profile (www.tradingview.com) to get more daily ideas. ** Comments and likes are greatly appreciated.
FX_IDC:XPDUSDLong
by InvestingScope
1
Palladium Ripe for A Fall..Once $1500 on the September futures breaks, I expect a quick and decisive fall to $1300. Additional things I see which makes this a high conviction trade: 1.) Seasonal pattern for XPDUSD is usually weak in mid-July until mid-August/early-September 2.) $1500 was a major breaking point in March as well. Once prices broke that level, the selling came in swiftly. 3.) The NYMEX futures CoT shows the commercials (smart money) is short around the same number of contracts just prior to the March crash as well. 4.) There was a marginal, new swing high in the futures but not in the cash market this month. Prices have since reversed back down off of the $1600 level quite rapidly. This tells me there are ready and willing commercial sellers at those higher levels thus capping prices further (for the time being). 5.) The contract margins for PA on NYMEX are over $12,000 for a 100oz. contract. This is reminiscent of Silver Futures in May 2011 just before the price peaked and promptly crashed.. There seems to be some intermediate support right around the $1300-$1275 level so I would look to cover there... Thanks to @thunderpips for the 6H/4C chart idea..
NYMEX:PA1!Short
by kaotic363
1