Palladium (xpdusd)
analysis + possible trade setup !
since march 2022 price has been mostly trading to the downside and is currently trading in a corrective rising wedge with supply level @ 2256.200 in control indicating that current market momentum is bearish.
price trading below the support trendline of the wedge pattern but has not yet formed a full OHLC candlestick to confirm breakout and further downside movement.
if this week candlestick closes below support trendline , i will be looking at shorting opportunities of lower time frame supply / violated demand zones now turned supply
short targets all the way down to monthly demand CP @ 1541.400 which is a level that price has tapped into 2 times already but failing to breakout and close below the level.
supply and demand
put together by ; Pako Phutietsile
presented by : @currencynerd
courtesy of : @TradingView
The Nobel Prize in economics belongs to Satoshi Nakamoto
analysis + possible trade setup !
since march 2022 price has been mostly trading to the downside and is currently trading in a corrective rising wedge with supply level @ 2256.200 in control indicating that current market momentum is bearish.
price trading below the support trendline of the wedge pattern but has not yet formed a full OHLC candlestick to confirm breakout and further downside movement.
if this week candlestick closes below support trendline , i will be looking at shorting opportunities of lower time frame supply / violated demand zones now turned supply
short targets all the way down to monthly demand CP @ 1541.400 which is a level that price has tapped into 2 times already but failing to breakout and close below the level.
supply and demand
put together by ; Pako Phutietsile
presented by : @currencynerd
courtesy of : @TradingView
The Nobel Prize in economics belongs to Satoshi Nakamoto
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