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XPD/USD - Palladium vs US Dollar 0 replies

broker stop-hunted my palladium trade 9 replies

Attachments: Palladium trading
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Palladium trading

Quoting Aleksbuk
My previous waiting some deep provocation was loose waiting - the palladium already did target for long. I'm waiting for some rollback and test step on daily chart. if they will give confirmation, i will open short on test 1570. Target 1450. {image}
Agreed Alek,
Shorts should do well. Will add onto short around 1556
Thinking there may be further bearish was overall....
Double top on weekly? Downward pointing RSI, so exercising some patient with this one.....
4&1 All Time Profit: $37,496
Quoting Aleksbuk
My previous waiting some deep provocation was loose waiting - the palladium already did target for long. I'm waiting for some rollback and test step on daily chart. if they will give confirmation, i will open short on test 1570. Target 1450. {image}
Agreed Alek,
Shorts should do well. Will add onto short around 1556
Thinking there may be further bearish was overall....
Double top on weekly? Downward pointing RSI, so exercising some patience with this one.....
4&1 All Time Profit: $37,496
Quoting MzansiObi
{quote} Agreed Alek, Shorts should do well. Will add onto short around 1556 Thinking there may be further bearish was overall.... Double top on weekly? Downward pointing RSI, so exercising some patience with this one.....
Have added onto 1555.46.....lets see how it goes ....


Trade safe
4&1 All Time Profit: $37,496
Palladium tested the March highs and failed to break out. It looks like it's due for a correction back to around the 1500 level. I don't like trading Palladium because of the spreads, but this seems worth it on a small position. I'm short at 1524 with a target closer to 1500. Although I'll take the profits off the table early if I have the chance. I'm not too confident trading against such a strong long-term trend.
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We must learn who is gold, and who is gold plated
EventsTrader Live Return This Year: 54.4%
Taking another look at Palladium, I'm feeling more confident in my position. In fact, I just added to my position. Just to reiterate from my previous post, I generally avoid taking positions against a strong long term trend.

Using Scanner on the Market page I'm looking at the net change in the last 1hr, 2hrs, 4hr, 6hrs, 12hrs, 24hrs, and 48hrs. I added another one and set it to the same intervals but to display charts. I'm not sure candles are best. Actually I may change it to line or dotted line. But for now, I'm using candles. It's what I know best.

I'm still playing with it and figuring out the best set up. Check it out.
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We must learn who is gold, and who is gold plated
EventsTrader Live Return This Year: 54.4%
I closed out my Palladium shorts early to take some profit off the table. Now, I'm going long based on a few factors. My target is around 1560 and stops in place tight.

My Scanner set up is showing the trend on the 1hr, 2hrs, 4hr, 6hrs, 12hrs, 24hrs, and 48hrs are all headed higher:
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Precious metals in general seem to be under some buying pressure since the open of the US session. There's not a lot of data that will derail the sentiment. Here's the hourly chart showing that a trend reversal could be under way:
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The overall trend in Palladium is very bullish. I feel more confident in my ability to pick up on a continuing trend, then predict reversals.

Here's Palladium on a daily chart:
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One last interesting thing that I'm keeping my eye on is a new Scanner I set up showing high and low for the time periods. Palladium continues to make higher lows every time period:
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We must learn who is gold, and who is gold plated
EventsTrader Live Return This Year: 54.4%
Palladium is looking like a good shorting opportunity. I took a small position with a fairly tight stop. Here's how it's looking on an hourly and daily, respectively.
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We must learn who is gold, and who is gold plated
EventsTrader Live Return This Year: 54.4%
I think Palladium came to one target. Aftre one more provocation i'm waiting movement to 1460.
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With Gold going through the wild ride it has had in the last few weeks, took my eye of Palladium market. Looks like levels back down to June trading. Is there a short-term play here?
If in doubt, paddle out!
Palladium looks to have rolled over and is now trading below its 100-DMA. A break below $1382 should lead to a fall towards $1312

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Quoting Aleksbuk
I think Palladium came to one target. Aftre one more provocation i'm waiting movement to 1460. {image}
Palladium did what you predicted in that post. I thought it was a good shorting opportunity. Unfortunately, I never pulled the trigger. Check out what Palladium has done since our posts:
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We must learn who is gold, and who is gold plated
EventsTrader Live Return This Year: 54.4%
Quoting EventsTrader
{quote} Palladium did what you predicted in that post. I thought it was a good shorting opportunity. Unfortunately, I never pulled the trigger. Check out what Palladium has done since our posts: {image}
I think there is still a short opportunity. Palladium is the only precious metal in a bearish trend right now and I believe it is due to its slightly different fundamentals. If my futures account was setup right now I'd love to experiment with a short palladium and a long platinum hedge.

On a separate note, I noticed the spike in your graph on Aug 1. It is even more pronounced in my graph below. I wonder if that is due to contracts rolling off and on. Maybe a good opportunity for Sep 1?
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careful not to step in a pile of it
Quoting bulltrap
{quote} I think there is still a short opportunity. Palladium is the only precious metal in a bearish trend right now
I agree that there looks to be some further downside potential. Since I last posted, it's gone sideways. Palladium is vastly underperforming in the precious metals space.
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We must learn who is gold, and who is gold plated
EventsTrader Live Return This Year: 54.4%
Quoting EventsTrader
{quote} I agree that there looks to be some further downside potential. Since I last posted, it's gone sideways. Palladium is vastly underperforming in the precious metals space. {image}
Had some long term shorts on it last month....
Cashed out on it to release some leverage.
Will wait for rallies to get in short again....
Monthly just moved out OB zone on RSi.....lots of real estate to the bottom.....
4&1 All Time Profit: $37,496
Quoting MzansiObi
{quote} Had some long term shorts on it last month.... Cashed out on it to release some leverage. Will wait for rallies to get in short again.... Monthly just moved out OB zone on RSi.....lots of real estate to the bottom.....
Don't wait too long, I have a feeling there will be a decent sized move sometime this week. Just not sure which direction. Palladium is tricky..
careful not to step in a pile of it
Quoting bulltrap
{quote} Don't wait too long, I have a feeling there will be a decent sized move sometime this week. Just not sure which direction. Palladium is tricky..
Lol for that very fact that it's tricky, im going to wait for my level or just stay out of it period......
4&1 All Time Profit: $37,496
Quoting MzansiObi
{quote} Lol for that very fact that it's tricky, im going to wait for my level or just stay out of it period......
Good point lol.
careful not to step in a pile of it
Quoting Aleksbuk
I think Palladium came to one target. Aftre one more provocation i'm waiting movement to 1460. {image}
On target!
Palladium hit an all time high today of $1619.80
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We must learn who is gold, and who is gold plated
EventsTrader Live Return This Year: 54.4%
Quoting EventsTrader
Palladium hit an all time high today of $1619.80 {image}
Yeah, some impressive chart... Seems it the only thing one would have to be careful is the swings (if trading with leverage)...
It sure does seem BUY atm... Not so "at home" with it.. but changed relations to other markets... Would like to explore it further.. in time...
Not want to lose my focus to other markets but would like to hear some insights from anyone that is trading this...
Can you afford to take that chance?
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