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Is Palladium tumbling down ?

由dchua1969提供

已更新

I certainly hope so as selling at this high price to the desired target would yield a great amount of
profits to any traders.

A very bearish candle has just taken place in the 4H chart, let's be patient and see the strength of pull back and then place our sell bet. For all you know, this commodity which has been generating more than 350% return since 2016 (parabolic move) is in need of a serious correction.

watch this like a vulture and not let it off your sight........

註釋

praise lord, a 90 degree plunge down, fierce one.

wait for pullback then add shorts, do not chase fallen price as you would not know how fast the pullback may be.

註釋

NO, it is not time yet for the shorts. Stay focus, if you want to sell, look out for selling signal, ie. price rebound till it breaks down. For now, not yet. If you become greedy or confused and tried to long but have no clear strategy, then you could get caught and end up with unnecessary losses. Worth it ?

Well, new traders always like to think they can juggle many positions all at the same time. I allowed my ego to get the better of me and suffered badly, financially and mentally. I stayed away from trading for quite a while, thinking it is not for me but a part of me wanted to prove myself wrong and after readjusting my state of mind, I realised it was my own greed and lack of knowledge that put me where I was.

I am still making mistakes, still allowing emotions to take over my logic and rules from time to time but the frequency has reduced quite dramatically. Praise Lord for that.

I do hope my lessons can help new traders in some way. Then again, we all had been there and wanted to try things ourselves rather than hearing from old broken records like me, haha. So, go ahead and suffer some losses, so long you are not selling your house to do that. I say it is good in a sense that it allows you to experience the good, bad and ugly side of trading. Have fun trading.

註釋

Expecting it to retrace around 1914.822. get ready your ammunition. buying pressure encountered.

註釋

The long red candle that falls on 20 Dec 1800 hours is a warning sign that there would be a pullback of the same magnitude as witnessed on the chart. You can see it has retraced more than 50% of the red candle. This means that if you want to sell or short this commodity, you gotta wait for the right price to get in. Sell high, buy low, right ? So , wait a while more.

註釋

Praise Lord. Thankfully, we waited else we would be in the red or got stopped out already depending on your SL level.

1947.82 is the level where it first plunge down and it has now retraced 100%. So at 1898 level (by drawing the diagonal trend line), you would see that the bearish trend line is broken out as well. That means, selling ceases and now we might want to wait for the breakout for 1947.82 , the neckline level to see if it can break up. If yes, we might take a buy position.

註釋

Praise Lord, those who longed at 1947.82 is handsomely rewarded. We did not as we already have exposure in Platinum and prefer not to be overly exposed. Congrats once again !