XPDUSD trade ideas
XPD USD BUY (PALLADIUM - US DOLLAR)Hi there. Price is forming a possible continuation pattern to the upside. Wait for the price to complete the pattern and watch strong price action for buy.
PALLADIUM - Analysis.Over 50% of PALLADIUM supply (and its congener, PLATINUM) is used in catalytic converters,
These convert up to 90% of the harmful gases in automobile exhaust (hydrocarbons, carbon monoxide & nitrogen dioxide) into less harmful substances such as:
nitrogen, carbon dioxide and water vapor.
Helpful information about PALLADIUM vs PLATINUM in the car manufacturer market:
seekingalpha.com
As a primary metal for the automobile industry, particularly in the USA - I believe it's accurate,
To say that PALLADIUM is providing a historical evaluation of economical progress in the United States.
The main methods of transport (Cars, Trucks, Tractors, etc.) are huge driving forces behind active commerce.
Manipulated markets (E.G. Dow Jones, S&P500) do NOT provide correct valuations regarding economical progress,
To my knowledge, PALLADIUM adjusted to natural fluctuations as they should appear (without FED interference).
Based on bearish sentiment, I expect PALLADIUM to drop to $1,100 & below (alongside #DJI),
This is roughly 50% from its previous fibonacci support level as shown in the chart above.
Upon further decline, our estimates for opportunities can be more precisely measured:
i.pinimg.com
Bull Trap has been displayed - Entering return to "normal" phase:
static.seekingalpha.com
Palladium looking like it wants to Roll OVERTA:
Balance of Power indicator looks like it has made a reversal, when that happens we consequently dump but that is a sign of institutional buying pressure- as the sell pressure is rotated to a small percent of the market buying the cheaper lot.
At an important traditional and Fibonacci level- therefore if we don't break above expect a retracement in the green zone which is marked by Fibonacci sequencing.
-Megalodon (Rahim)
Stay Safe, Trade Safe
You are welcome to share your ideas below :)
FX_IDC:XPDGBP
Palladium potential buyPric Action establihed from the 14th to the 19th May created a new high. Prices since then are accumulating.
GARTLEY PATTERNEntry: now
Stop-loss: 2100
Take-profits: 1064
NOTE: BE VERY CAREFUL WHEN CHOOSING A LOT SIZE FOR THIS PAIR BECAUSE IT'S VOLATILITY IS UNPREDICTABLE AND IT OPERATE WITH HUGE SPREADS. I'LL ADVICE 1.0 ON A 10000£ ACCOUNT.
Palladium looks like it could squeeze against silverI am long BOTH Silver and Palladium, but Palladium may outperform silver if it squeezes higher out of that consolidation.
Notice palladium recently broke out of a very tight triangle
The best way to buy palladium if not the futures contract is through the ETF, PALL
Triangle on palladiumPalladium testing ressistance on 2050 USD. We also see asscendenting triangle. Propably move to 2150 USD after break out.
PALLADIUM 1D TRIANGLE BREAKOUTTriangles are repeatable trading chart patterns.
Triangles are consolidation chart patterns that can breakout either direction.
Each chart pattern will have defining trendlines of the support/resistance levels creating the pattern.
Whatever time frame you are trading this chart pattern, wait for a candle close outside of the trendline in the direction of the breakout candle. (Our time frame preference is the Daily chart).
Add volume indicator - Volume is the amount of $ that went into a particular candle or in Forex the # of trades that took place.
Add ATR indicator - Volatility is the amount of price movement that occurred. Use the ATR to measure the price movement.
When you see descending Volume bars and descending ATR line (which indicates volatility) this shows
a dis-interest in traders to invest in this pair creating consolidation which creates the chart pattern.
Trade Management after there is a breakout candle close.
1 - Position size (compare volume bar to volume ma line).
a - Breakout candle must be 100% of average volume for a full position size.
b - If 75% of average volume then ½ position size. (To find 75% of Volume
look at the charts volume settings – divide smaller # into larger # = 75%+)
2 - Enter two trades.
3 - SL for both trades will be 1.5 x ATR.
4 - 1st trade TP will be 1 x ATR.
5 - No TP on 2nd trade – letting profit run and adjusting SL to follow price.
6 - When 1st TP hit – move 2nd trade SL to breakeven.
7 - Adjust the 2nd trade SL to follow price.
*8 – After Breakout candle – if price closes back into chart pattern close trade
*9 - When breakout candle is more than 1 ATR from breakout candle open.
a - Enter 1st trade at candle close with ½ position size.
b - Enter 2nd trade with a pending limit order that is 1 ATR of breakout candle open.
c – Price should pullback to that pending limit order for 2nd trade.
d – If Price returns back into chart pattern close trade before SL is hit.
Waiting For Palladium To Breakout!Palladium...
After their steep price surge in 2019 and beginning 2020 it is recently stabilizing itself.
I personally believe that this stabilisation isn't sustainable.
So waiting for an breakout is recommended.
I am a bit more bullish than bearish, but i want to wait for the breakout.
Technical:
"Explained above"
-rsi between 50 and 40 over a decent period
Fundamental:
Explained in one phrase: demand will recover fastly.
Best Regards
Christian Georgi
PALLADIUM are we testing 1880?we looking to sell for short term, at the moment we have correction on 30 min to sell to expose 1880
Palladium Short OportunityWait for the breakout
H1 CS Breakout confirmation would be better
Good Luck
Long PalladiumIn 4H chart it's propably invertet head and shoulders. in daily chart we see break out from descending triangle.
