The Hourly View for Palladium
- At the moment, XPDUSD’s price is down $-1.6 (-0.06%) from the hour prior.
- This is a reversal of the price action on the previous hour, in which price moved up.
- If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 20 hour timeframe.
- Price action traders may also wish to note that we see a pin bar candlestick pattern on Palladium. Given that we see an uptrend on the 20 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting.
- The moving averages on the hourly timeframe suggest a bearishness in price, as the 20, 50, 100 and 200 are all in a bearish alignment — meaning the shorter duration moving averages are below the longer duration averages, implying a stable downward trend.
Palladium’s hourly price chart is shown below.
The Daily View for Palladium
- At the time of this writing, XPDUSD’s price is up $60 (2.37%) from the day prior.
- This move is a reversal from the day prior, which saw price move down.
- If you’re a trend trader, consider that the strongest clear trend on the daily chart exists on the 100 day timeframe.
- The moving averages on the daily timeframe suggest a bullishness in price, as the 20, 50, 100 and 200 are all in a bullish alignment — meaning the shorter durations are above the longer duration averages, implying a sound upward trend.
Below is a daily price chart of Palladium.
Featured Palladium Idea From TradingView
Below is a trading comment entitled XPDUSD WAVE 5 you may find interesting:
XPDUSD Broke out of a channel that was the for a loing term, retested the level and looks like it will continue trending upwards to make the 5th waveShare thoughts in commentsLike the work and follow for more trade ideas and education