PALLADIUM - Short Setup, Bearish Rotation In Metals
A very bearish setup is developing:
Since the top, there is nowhere on the chart that has a whipsawing candle like this:
A very big Shooting Star!
This setup has my favourite conditions met:
- Whipsawing candle that sweeps liquidity through key resistance (2021)
- Tidy 1.618 Golden Window (1.618 - 1.786) - taking extremity pivots of Accumulation to draw the fib trendline.
Palladium has quite weak price action overall comparing to other metals and this very bearish whipsaw might be a signal for the overall metals market that we're passing through a major pivot.
This is also considering that SILVER may have topped at my 1.618 target @ $54:
And GOLD may perhaps also have topped after hitting the ultra long term 2.272 (image below is a previous thread I made - click to enter):
In addition news arrives that "Gold price pulls back from record as Trump eases trade concerns" - mining.com/gold-price-pulls-back-from-record-as-trump-eases-trade-concerns/
Interesting isn't it how this type of news arrives exactly as GOLD, SILVER and PALLADIUM all hit hit respective Phi ratio landmarks / significant resistances !
...
Palladium may chop, however it often dumps hard when it swings bearish - I doubt it can take out this candle wick high - and even if it did then it would still be very bearish.
The candle closes in a few hours.
And from here there is a possibility that this might be the next wave down, though I won't hold anywhere near that long.
In summary, we have multiple signals from Gold, Silver, Palladium and Trump tariff news that metals may be topping / hitting a significant peak.
I entered a short position here.
This analysis is shared for educational purposes only and does not constitute financial advice. Please conduct your own research and consider that crypto is a dangerous market.
Since the top, there is nowhere on the chart that has a whipsawing candle like this:
A very big Shooting Star!
This setup has my favourite conditions met:
- Whipsawing candle that sweeps liquidity through key resistance (2021)
- Tidy 1.618 Golden Window (1.618 - 1.786) - taking extremity pivots of Accumulation to draw the fib trendline.
Palladium has quite weak price action overall comparing to other metals and this very bearish whipsaw might be a signal for the overall metals market that we're passing through a major pivot.
This is also considering that SILVER may have topped at my 1.618 target @ $54:
And GOLD may perhaps also have topped after hitting the ultra long term 2.272 (image below is a previous thread I made - click to enter):
In addition news arrives that "Gold price pulls back from record as Trump eases trade concerns" - mining.com/gold-price-pulls-back-from-record-as-trump-eases-trade-concerns/
Interesting isn't it how this type of news arrives exactly as GOLD, SILVER and PALLADIUM all hit hit respective Phi ratio landmarks / significant resistances !
...
Palladium may chop, however it often dumps hard when it swings bearish - I doubt it can take out this candle wick high - and even if it did then it would still be very bearish.
The candle closes in a few hours.
And from here there is a possibility that this might be the next wave down, though I won't hold anywhere near that long.
In summary, we have multiple signals from Gold, Silver, Palladium and Trump tariff news that metals may be topping / hitting a significant peak.
I entered a short position here.
This analysis is shared for educational purposes only and does not constitute financial advice. Please conduct your own research and consider that crypto is a dangerous market.
Your FA guru can't read a chart💭
I run a technical group with lots of content every day + regular videos, 1:1, chatroom 🚀.
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I run a technical group with lots of content every day + regular videos, 1:1, chatroom 🚀.
Better than all the rest? My record speaks for itself 💡.
Telegram Group: $50 per month✨.
Contact: t.me/dRends35
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Your FA guru can't read a chart💭
I run a technical group with lots of content every day + regular videos, 1:1, chatroom 🚀.
Better than all the rest? My record speaks for itself 💡.
Telegram Group: $50 per month✨.
Contact: t.me/dRends35
I run a technical group with lots of content every day + regular videos, 1:1, chatroom 🚀.
Better than all the rest? My record speaks for itself 💡.
Telegram Group: $50 per month✨.
Contact: t.me/dRends35
Penerbitan berkaitan
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.