T9 – PALLADIUM

download (8)download (9)

ENTRY

Daily // 4H // 1H // 30m // 15m

Analysis

get context for the set-up

Rising wedge reversal breaking out on the daily.

Criteria

TREND on entry timeframe determined by SMA if subjective (✓)

IMPULSE registering ADX>25 (✓) ADX42

COIL structure clear formation relative to prior impulse (✓)

Continuation/Correction/Coil Structure

Flag // Rectangle // Pennant // Wedge // Triangle // Diamond

Fibonacci 50%–61.8% // S&R Level // Trend Line // Moving Average

ABC // ABCDE // Extended Combo

Orders

Entry @ Break of Structure // Area of Value + Candlesticks

Stop Loss @ +1ATR away from last wick // SMA as guide

Take Profit @ Length of Prior Impulse // Next Area of Value

1% capital risked for potentially 3R

Entry: 776.4 | Stop loss: 788.1 (-117 points) | Take Profit: 741 (+354 points)

Remarks:

MANAGEMENT

If price breaks out favourably, risk halved

download.pngIf two-thirds of anticipated impulse, shift to break even

If breakout + strong momentum + space to run, extend take profit and use trailing stop.

EXIT

download (6)

Stop Loss

Manual. Reason:

Trailing Stop

Take Profit

Remarks: The massive selloff anticipated did not happen, obviously. Bias is still bearish due to the large rising wedge.

Advertisements