CFDs on Palladium (US$ / OZ)Updated Palladium - 60 - Short - Trend Analysis
Please 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 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
Note
Waiting. Throwback in progress. Entry around 995.Trade active
Tiny little double top at 2 consecutive hours. This bring our stop at 1004 to a nice narrow point...here goes. Good luck.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.