Is Palladium finally running out of steam?

Nov 6, 2019

SHORT - XPDUSD
SL: 1811.95 (Suggested by our algorithmic system)
SL: 1832.00 (Safer option, personal suggestion)
TP: 1697.89

Reasons behind this idea:

1. Support trendline is subjectively broken.

2. MACD and Stochastic indicators have crossed down, bearish.

3. Minor RSI bearish divergence.


---------- Chart Drawings ----------

Blue Dotted Line: Broken Support Trendline (New Resistance Trendline)
Blue Solid Line: Next Supporting Trendline
Red Solid Line: Previous Resistance Trendline
Purple Line: Stoploss suggestion from our algorithmic system
Green Line: Take Profit suggestion from our algorithmic system
Red Arrow: Bearish Divergence


Screenshot of our mobile app alert: ibb.co/s6M6Cjw (Timestamps are Australian Sydney Time UTC+7)

Please trade responsibly and good luck!

Nov 7, 2019

Trade closed: stop reached

Reached SL: 1811.95 (Suggested by our algorithmic system)

<img src="i.ibb.co/f2J6FRF/Annotation-2019-11-08-074903.jpg" alt="Annotation-2019-11-08-074903" border="0">

Price is still below SL: 1832.00 (Safer option, personal suggestion) and its respecting the new resistance trendline (dotted blue line) thus far.

Nov 7, 2019

Note

[img]i.ibb.co/f2J6FRF/Annotation-2019-11-08-074903.jpg[/img]

Nov 9, 2019

Note

Resistance line (dotted blue line) remains valid.

Nov 11, 2019

Trade closed: target reached

Reached SL: 1832.00 (Safer option, personal suggestion)