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
Comment:
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.