This commodity
PALLADIUM
has been uptrending since may 2016 on the daily timeframe . After some periods of distribution, forming an ascending triangle on the 4H chart, price break upward and continue its ascension above september 2014 high. We can now see price ranging on the 1H timeframe. As per the general sentiment, I will go long on this commodity without any further reflexion. SL at 917.72 . I usually don't define profit for my trend following strategy. You can set your take profit at the previous high around 932.
PALLADIUM
has been uptrending since may 2016 on the daily timeframe . After some periods of distribution, forming an ascending triangle on the 4H chart, price break upward and continue its ascension above september 2014 high. We can now see price ranging on the 1H timeframe. As per the general sentiment, I will go long on this commodity without any further reflexion. SL at 917.72 . I usually don't define profit for my trend following strategy. You can set your take profit at the previous high around 932.
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Great move!!!
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Range traders should be taking out profit now