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Palladium (XPDUSD)

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PALLADIUM trade ideas

Short PalladiumI have nothing much to say in these kinds of graphs With auto industry falling, global economic slowdown (its exaggerated but it is happening for sure), and consumer spending and industrial manufacturing falling, I think palladium might be getting exhausted with this rise. Palladium is used mainly in 4/3 way catalytic converters along with rhodium. Yes they are rare metals and found mostly in russia and south africa, but with auto demand falling, i dont see a reason why the demand should not fall Technical indicator - Overbought Short palladium 1780 Tp1 1750 Tp2 1710
TVC:PALLADIUMShort
by arungoten
4
Palladium Down !Hi everyone; Did you see Palladium monthly chart? Palladium price is forming a rising wedge. Till now, five subwaves were counted, I expect additional two subwaves to come before the wedge complete. Why? It's a natural behavior to corrective waves to unfold in seven subwaves. Also look at PPO Indicator ( Percentage Price Oscillator), it forms a contracted triangle with lower highs and higher lows, this indicates that as soon as the triangle break, the next move will be strong. As soon as the rising wedge complete, Palladium Price will decline. This is not a good time to buy Palladium.
FX_IDC:XPDUSDShort
by engsalahgh
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 Is Leaving Gold In Its DustOften when we talk about commodities, the popular ones that come to mind are Gold and Silver. They have both performed well in the past. Gold is now looking interesting but has been stuck in consolidation since 2013 and silver is still range bound and requires multiple resistance levels ahead to be cleared before we will consider it. What good is trading an instrument purely based on its popular name if there is little chance to profit from it? Unhealthy attachments will kill your performance. Good trading is about being detached from the name and instead being able to focus on the charts to determine high-probability environments and setups. A commodity which is rarely spoken about and performing exceptionally well is Palladium. This metal is mostly used in catalytic converters for cars but can also be found in jewellery and dental fillings amongst other uses. With the way price is moving, you will also find Palladium on the watchlist of and in the trading accounts of some smart traders and investors. Why? Because price is rising, it is that simple! If we take a glance at the monthly timeframe we can see that price has been in a nice trend since January 2016 from a low of $454. Over the past few years, price has steadily been rising under the radar, moving up over 1,100 points which is an increase of over 250%. On the weekly timeframe, we experienced a strong trend from August 2018 at $833 to March 2019 at $1,615. This trend moved up by over 90% but came to a sudden halt in March 2019 where price pulled back and then moved into consolidation. The chart we can see is for the daily timeframe and we have highlighted the cup & handle chart pattern. In an uptrend, a cup & handle is a strong trend continuation pattern of the bull trend. Now that price has broken and closed above the high of this chart pattern, it confirms to us that the chart pattern has completed which is the first indication that we are likely to see the next leg up. Ideally, what we now need to happen is for price to pull back and retest the support, which was previous resistance. If the support level holds, we then need to see the buyers push price back up and break above a previous high as illustrated. This will confirm a continuation of the overall uptrend and we may see a strong trend to the upside. By applying patience and waiting for a pullback, retest of resistance-turned-support, followed by another breakout we drastically reduce the chances of getting caught in a potential head-fake which can happen after a lengthy period of consolidation. Applying patience is a key trait to a good trader as this will help us avoid an unnecessary loss if a head-fake does materialise on this initial breakout from consolidation. The daily 50sma is above the 200sma which indicates that we are indeed in an uptrend. Both the 20sma and The 50sma are likely to be used as support if a trend emerges which will help us with stop placement and exit management when our trading plan is met and we start placing long trades.
TVC:PALLADIUMLong
by Sublime_Trading
2