Palladium - a small short before the move higherPalladium has just provided three reasons why I will look for a retracement before looking for the long.
1. Market has reached a trend line connecting tops - 9 month span
2. Market has hit the 1.272 from high 18th Nov (double top) - low 31th Dec - the 1.272 is the pink line. Note: We need to take in to account the larger swing from Dec15 - present.
3. Market has hit the 618 of the last big swing from high May 21 - 31 Jan - the black line is the 618
From here we look for a pullback to the 382 that happens to be a strong support zone - light blue line
After the pull back we go LONG with an ABCD pattern and the top of our range box to reach our target.
