PALLADIUM - Potential Bullish Reversal!
Hello TradingView Family, this is Richard, if you like the idea, do not forget to support with a like or/and comment.
PA1! is sitting around a strong support area and round number 2000.0 so we will be looking for buy setups on lower timeframes.
on H4: PA1! is forming a wedge pattern in red but the upper trendline is not valid yet, so we are waiting for a new swing high to form around it to consider it our trigger swing. (projection in purple)
Trigger => Waiting for that swing to form and then buy after a momentum candle close above it (gray zone)
Meanwhile, until the buy is activated, PA1! would be overall bearish can still trade lower.
Good luck!
All Strategies Are Good; If Managed Properly!
~Rich
PA1! is sitting around a strong support area and round number 2000.0 so we will be looking for buy setups on lower timeframes.
on H4: PA1! is forming a wedge pattern in red but the upper trendline is not valid yet, so we are waiting for a new swing high to form around it to consider it our trigger swing. (projection in purple)
Trigger => Waiting for that swing to form and then buy after a momentum candle close above it (gray zone)
Meanwhile, until the buy is activated, PA1! would be overall bearish can still trade lower.
Good luck!
All Strategies Are Good; If Managed Properly!
~Rich