Metals, upWhilst looking up at my trades -- and the technical outlooks -- of the market beforehand the NFP, several of them suggested a further decline on the Dollar. Meaning, bad NFP number; an increase on the annual wage growth would then be the only data that could save data. But no... NFP sealed the fate of Dollar.
Beforehand the actual release of the data, I entered an order for this metal. I was not able to update my trade analysis as it was not on schedule and this is my first time trading other metals aside from gold and silver. I am now broadening my market.
XPDUSD
Palladium: Multiple Bearish PatternsSo far Palladium has completed bearish 2618, AB=CD and Gartley Set-ups. The Gartley just triggered like 20 minutes ago and am pretty bummed I missed it. But there will be many more opportunities! Next I will be watching for a breakout of the wedge, or the formation of another bearish pattern.
Let me know your view!
Palladium -- Missed Last Entry But Here Is Another ChanceI missed my entry on the past idea (linked below) as I was hoping to get in from the top of the potential Cypher rather than using the AB=CD for my entry. Oh well.
Here is a 2618 set-up after the double top it formed last week. It is also the completion of the faux AB=CD patterns shown on the chart . It seems to me a good place to short. I would love to hear your thoughts. Good luck!
(Don't use this as a trading signal -- I am rookie!)
Palladium: Bearish AB=CD Into Bullish Cypher?I am looking to enter a short on Palladium in the near future for the completion of the AB=CD pattern shown on the chart. Today has been an extremely bullish day although it seems like it may have finally taken a breather around 782. I will likely be looking for entries on lower time frames which correspond with this longer time frame idea once I have seen rejection in the PRZ as the stop losses for these ideas when trading Palladium contracts is rather large. Be patient and always wait for additional confluences and confirmation!
Please do not regard this trade as a signal -- I am still relatively new to trading and these are only my personal views and ideas! Good luck!
XPDUSD: Monitoring the declinePalladium has an interesting chart, and bullish potential. Right now there's an active 'Time at mode' signal which points to a 7 bar decline which is already active. The time and price target implies that we will see 600.556 hit by November 3rd or sooner. If that doesn't happen, we get a bullish signal.
There's already a bearish failure, since bears didn't manage to replicate the range of the decline that happened 3 days ago, so it's likely to see a reversal here.
Keep an eye on it. I'll update it once it's safe to go long.
Good luck,
Ivan Labrie.
XPDUSD: Palladium, long dips with stops under 691.16Palladium is offering great potential here, with odds of getting you into a long term uptrend if you go long next weeek.
Risk is a drop under 616.16, so buy dips and add on a breakout of last week's high with the same stop loss.
The long term chart shows potential for a quarterly/6-month timeframe uptrend signal, so this makes Palladium particularly interesting.
Good luck,
Ivan Labrie.
And now palladiumAfter travelling on the overbought region for some time, it seems XPDUSD is now ready to retrace. We just touched the 0,618 angle of the fib speed resistance and already heading south. First target on 0,5 angle around 620's coinciding with last peak, and secondary on the 0,382 on the 600's. Wait for your signal and enjoy the short.
All precious metals are on this same trend. Check my idea on XPTUSD and watch how XAUUSD will follow this week.
Palladium - Wedge for next movementChart shows everything but I'm on the short side of this commodity. Waiting a confirmation before entering a new position. But we could see a possible consolidation between 520 - 480