Entry plan is based on the palladium head and shoulder pattern.
I'm waiting and watching for price action to signal a top near the dashed line (drawn from left shoulder's high). Ideally we get some deceleration with a doji candle followed by a high test candle to form the right shoulder and signal a reversal to the downside.
The bull cycle counts are pointing towards Q4 as a ideal time for a high and the monthly counts confirm that with their November target.
Ideally I'd be able to hop in around $800-$850 if/when that confirmation comes with my stop above the high we form. The market still has quite a bit of chart to fill over the next 5~ months so things wont become clear until we get closer to that November target. Reward:risk ratio target would be around 10-12:1 for the first entry.
I'll publish a more detailed plan as well as my entry if/when that time comes.
For more in depth analysis on this trade and others checkout my site, PatsTrades. Link is in my profile status box.
Thanks!
I'm waiting and watching for price action to signal a top near the dashed line (drawn from left shoulder's high). Ideally we get some deceleration with a doji candle followed by a high test candle to form the right shoulder and signal a reversal to the downside.
The bull cycle counts are pointing towards Q4 as a ideal time for a high and the monthly counts confirm that with their November target.
Ideally I'd be able to hop in around $800-$850 if/when that confirmation comes with my stop above the high we form. The market still has quite a bit of chart to fill over the next 5~ months so things wont become clear until we get closer to that November target. Reward:risk ratio target would be around 10-12:1 for the first entry.
I'll publish a more detailed plan as well as my entry if/when that time comes.
For more in depth analysis on this trade and others checkout my site, PatsTrades. Link is in my profile status box.
Thanks!
免責聲明
這些資訊和出版物並不意味著也不構成TradingView提供或認可的金融、投資、交易或其他類型的意見或建議。請在使用條款閱讀更多資訊。