Anyone trading palladium now?

Leopard9 said:
Yes. Demand is very high due to regulations. There is no way out for now. I cant miss this one. I'll post feedback.
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my strategy made its first trade right after the open tonight. price is still going up right now lol

KM9cpLV.png


the other green lines are simulated trades, i erased them in paint.
 
shatteredx said:
my strategy made its first trade right after the open tonight. price is still going up right now lol

KM9cpLV.png


the other green lines are simulated trades, i erased them in paint.
More...
Good entry and nice move. Unfortunately I didnt get in yet. Waiting for a pullback to 1412. As I suspected this thing rejects the previous close! Quite a trade. Manage it well!
 
Leopard9 said:
Good entry and nice move. Unfortunately I didnt get in yet. Waiting for a pullback to 1412. As I suspected this thing rejects the previous close! Quite a trade. Manage it well!
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I closed my trade at 1423. Price ripped higher to 1433 overnight! Wish I was still long haha.

It probably will drop back down for a week looking at the daily chart. In January it ripped really high before dropping a hundred points down below 1300.
 
Well Done. Nice observation. I'm watching a pattern on the 15 min for the last 2 days. After some consolidation volume picks up and price rips higher around 1% in perfect waves. Maybe the best way to trade this is with an auto trailing stop and forget about it. 1435 next resistance. If it breaks we might have another 1% rip!
 
Leopard9 said:
Sell signal!
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Yeah it's dropped a bit from the session high.

I have no plans to try to go short on this thing though. Just longs with reasonable profit targets.

https://www.cnbc.com/2019/02/19/gold-markets-dollar-us-china-trade-in-focus.html

Palladium hit a record high on Tuesday, moving close to $1,500, due to a prolonged supply deficit, while gold rose to a near 10-month high as rising optimism for a U.S.-China trade deal subdued the dollar.

Spot palladium, which traded as high as $1,491 per ounce, was up 1.06 percent at $1,472.50 at 11:41 a.m. ET.

The deficit will widen this year as stricter emissions standards increase demand for catalytic converters, autocatalyst manufacturer Johnson Matthey said last week.

"The palladium market is facing a substantially growing physical deficit ... driven more from the demand side due to rising automotive demand," said Philip Newman, director at Metals Focus.

"Also, there won't be a substitution from palladium to platinum as it is very difficult to achieve and takes a very long time to make sure it is compliant."

Both metals are primarily used by automakers in catalytic converters, but platinum is more heavily used in diesel vehicles, which have fallen out of favor since Volkswagen's emissions-rigging scandal broke in 2015.

Unlike platinum, palladium has benefited from the switch away from diesel engines and expectations for growth in hybrid electric vehicles, which tend to be partly gasoline-powered.

This has helped cushion the metal from the impact of falling car sales across the globe.

"It's very difficult to predict in a market which is very small, but we are nearing the $1,500 level, and reaching it is very likely as tightness in the market along with the dollar weakness is providing some lift," Newman said.
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