XPDUSD Short Trade SetupHello traders.
After new all time high record Palladium turn down sharply and then it makes a correction. I put an entry order below previous bottom with stoploss above last top, because we have broken trendline. When it is tagged, I will move the stoploss above the correction (for now 1050). My long term forecast: Target is huge. Even if it makes a lower degree correction 0.50 retracement is 800.
Palladium
Palladium: Its benefits and price forecast 15 Feb 2018Palladium is from the Platinum family of metals and has a lower melting point. It is used as a catalyst converter (Fancy for: used to make one chemical into another bu using the Palladium as a catalyst. Over half the global supply of Palladium is used for this purpose. Will we see a strengthening of emissions rules on Commodities? Probably not. Given the high utility of Palladium and its view as precious and useful by large industrial conglomerates, I see the metal leveling out at $115 as we approach end of March 2018. If we look at the strong Yen you'll see a direct correlation in the charts between the 2 prive levels (Yen) (Palladium).
PALLADIUM BUYWe last bought this in October for 920 to say we got out too early is an understatement. Since then we have been waiting to get back in and never had the opportunity, the current pullback looks pretty good:- unfolding in 3 clear waves against a recent new high. Divergence at the blue (3) top adds to the case suggesting that the move higher had lost momentum rather than being over.
The green trend line is a little lower than I would like but was not tested on the two previous pullbacks (neither of which we traded) so it may not be this time. We still like commodities higher but do not overload Commodity risk.
#Palladium spread over #Platinum will continue to increaseReuters had an article last month about palladium and platinum www.reuters.com
I think the spread will continue to increase in favor of palladium. there are fundamental reasons (higher demand for palladium, higher autocatalyst recycling) and TA shows further appreciation of palladium.
#Palladium price forecast for 2018 @ $1,200-1,300I think we are currently in 3rd macro wave, and 3rd impulsive micro wave will end around $1,200-1,300 by the end of 2018, which means there is still room for price increase by around 10%.
From a macro perspective, 2019 could be a bearish year due to the ongoing price rally. After a potential retreat, next price target could be above $2,000 but we need additional data to speculate.
For the short run, if palladium can pass over $1,100, which is a strong resistance, the price rally can gain more power for the higher levels.
""An entry that may Triple your account"" Element 46 My fellow traders,
This evening, I post my insight for two reasons.First, you may notice what thing is reaching 16 years highest.Then, you will recognize my analysis and get huge profit.
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The element 46, Palladium is reaching high price zone now and can open SELL position from now. In 2001, the price reached 1100 zone and drop sharply as shown in chart and now the same situation is happening and you can trigger SELL positions and can make your trading account triple in 3 months.Forex is just zero-sum market and a lot of money are in the price pool of Palladium. Time to sell !!!
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Good luck to all traders.
Sieg Heil !!!
Palladium - 60 - Short - Trend AnalysisPlease do not trade based on my ideas. I am a novice and post for interest's sake only.
Palladium closed below a steep upward trendline on Friday at the hourly. Daily and weekly the trend is still upwards, however it has kissed a resistance line again at about 1,000.
I also note a divergence in volume suggesting the upward trend may be coming to an end. (I'm still learning this one please correct me if I am wrong).
I note that the peak this week was lower than the previous high.
It seems crazy to short palladium, but a trend must end somewhere.... This feels risky. Small trade and short stop for me. Wish me goodluck :)
SH
PALLADIUM/XPDUSD - D - LONGDear traders,
Here is a new LONG signal on PALLADIUM/XPDUSD :
Entry : 922.698
SL : 907.531
TP1 : 941.12
TP2 : 959.295
Reasons for this long : After the very nice long we had last month, I've waited for this correction before re-entering this long. Metals have taken quite a beating recently, but I do see global trend as bullish.
Trade with your own diligence,
GL HF
Palladium with breakoutThe picture in the palladium is bullish.
Applications:
The largest use of palladium today is in catalytic converters. Palladium is also used in jewelry, dentistry, watch making, blood sugar test strips, aircraft spark plugs, surgical instruments, and electrical contacts. Palladium is also used to make professional transverse (concert or classical) flutes. As a commodity, palladium bullion has ISO currency codes of XPD and 964. Palladium is one of only four metals to have such codes, the others being gold, silver and platinum. Because it absorbs hydrogen, palladium is a key component of the controversial cold fusion experiments that began in 1989.
With the break of the last high at 930, there is a lot of space to the up site. At the same time, the now available support can be used as a stop loss level. This results in a trade with a risk-reward-ratio of 1:4.