PALLADIUM trade ideas
Palladium Outperforming Gold!This commodity is featuring for the first time on our TradingView blogs.
Current setup: Price is now above the previous all-time high from 2001 and looking strong.
Conclusion: We have to see if price can continue to make new all-time highs. We will look for long entries on the next breakout.
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Sublime Trading
XPDUSD: 1D Channel Up. Long.As explained in a previous study, Palladium should be the winner of the next few months among top commodities. The reason that the current 1D Channel Up (RSI = 59.618, MACD = 11.640, Highs/Lows = 7.4335, B/BP = 20.3740) hasn't moved any higher is the general selling pressure on the metals sector during the last few weeks. This has the potential to cause another week of consolidation but then we expect a new Higher High at 1,180.
Is Palladium the new Gold?On this quick comparison we can see how Palladium has outperformed Gold since their recent lows. Although Gold has only managed to grow +7.16% from its recent August lows (1,160) and is way off its annual High (1,366), Palladium has gained +37.96% breaking at the same time its January annual high (1,139.60).
Taking into account the very long term bullish trend on the monthly chart (RSI = 67.636, MACD = 74.470, Highs/Lows = 62.5922 ) since the 252 low, where Palladium has increased its value by +155.43%, if the 50% Fibonacci retracement level on 1D (991.600) holds, then we can expect another +20% gains in the following months (target 1367). This is a good buy opportunity for long term investors.
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PA impulsing, correction might be nextPalladium was the strongest in the precious metals complex, the only one impulsing higher. However, the impulsive sequence seems over, and at least some pullback may be next.
GM and Palladium: Interesting chartWe have a sizeable spread in $GM vs $XPDUSD currently, and price is trending up strongly in daily and weekly $XPDUSD.
If price breaks into new highs here it could be flashing a strong signal for auto stocks, so I wouldn't be shocked to see $GM gain steam from there onwards.
I'm currently long $GM with 10% allocation and no stop loss, but also no leverage. Looking forward to see the outcome of earnings.
Cheers,
Ivan Labrie.
XPD/USDBroke major high. Pitchfork, seems to be at least starting an ending diagonal. look to break previous high.
Palladium Bearish Deep Crab Type 2 reaction Pattern Complete!This is a long term type 2 harmonic signal. our 38.2 Fib was hit and now the price is back to the pattern completion area. from here on we can likely expect the price to target the 61.8 fib retracement of the main swing. for the entry and exit criteria of the trade please refer to the main chart. you can take this trade short once the market opens.
CFD Palladium Pending Sell orderCFD Palladium Bearish Cypher Pattern
Potential sell Opportunity
Good luck!!!!
XPD/USD- TDI and WXY EducationNotice what price does in this corrective pattern every time the TDI indicator spikes and creates a "sharkfin" in oversold territory. See the daily divergence upon completion (even though this WXY did not measure out to equal length).
Palladium SHORTPalladium hits 161% fibo level after a strong bullish rally. We can expect some fall back towards 23% - 38% fibo if it is unable to break the resistance above 1085. Short play take profit targets 1030 - 990 and Stoploss 1095.
CFD Palladium Pending Sell OrderCFD Palladium XPDUSD
Pending Sell Order
Bearish Butterfly -Sell Trade
Good short or long opportunityLooking at the wicks where price has on the daily chart, it looks as if price has rejected that point and wants to go down. However, decides to go up and break resistance, you should expect some kind of impulse.
XPDUSD big return...XPDUSD big return. The price of palladium had built a correction channel that slowed down to 840usd. This level is probable to the bottom of the decreasing correction ABC wave structure. If our theory is correct, it may be a slightly flat but very long-lasting rise. The third wave of wave structure rising from 462usd. The target price is 1405usd.
Capitulation in palladium? Massive sell day today lands palladium at a massive LVN for the larger annual trend (7 year uptrend kicked off last year). Will wait a few days for signs, but weekly downtrend could very well fail here
