Sunday, April 7, 2013

Palladium: Great Technicals and Great Fundamentals

I have done  a lot of posts lately on Palladium.    Use the search box to get the whole story.

Check out the high volume hammer which amazingly hits the black downtrend line and the 25% Bernoulli uptrend line, almost perfectly.  Note the volume below, pretty high.   Now look at the next chart, which shows the derivation of the Bernoulli Downtrend Line.

This is called a back test.
So you have

Back Test
High Volume
Hammer or Doji
Egg Bounce

These touchpoints are what created the Bernoulli channel downtrend line, which projects the black line that we just backtested.  

Pretty funny, eh?    Predicting the future is a good thing to have.

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Insightful and Useful Comment!