North American Palladium Ltd. Message Board
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head & shoulders bearish top
I doubt it challenges old highs.
http://www.futuresource.com/charts/charts.jsp?s=PAH06-
go ahead and short it
give it all you got -
That is definitely not a head and shoulders top. Your right shoulder did not retrace nearly far enough to even draw a decent neckline:
http://tinyurl.com/n8dkx
Looks more like a nice channel to me.
You can see it better here:
http://tinyurl.com/ncyvt
Notice that an intersection between those S/R lines and the price channel lines typically calls a swing.
Here is a head and shoulders top:
http://tinyurl.com/nrzgc- 2 Replies to wolffenrir
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(last post malformed with html tags in text -- yahoo what are you guys doing?!)
Also note that the price makes significantly higher tops each time the RSI tops and that Pd has, on average, been outperforming precious metals as a group:
http://tinyurl.com/qlb5y
I will not be an ass and tell people it is not risky but I think there is an average chance that wee see a three white soldiers pattern completed in the next two days resulting in a bullish MACD crossover. If that does not happen, we are still sitting at the bottom of the price channel promising some sideways movement and a later continuation of the uptrend *that only just started a few months ago*.
There is the possibility of a head and shoulders pattern forming on the weekly chart but would not be confirmed for another month or so:
http://tinyurl.com/hschm
I hope these charts are working. I am using the beta version of stockcharts rather than the existing version. Does anybody who does not have an account have trouble viewing these charts?
Regardless of whether Pd enters a downtrend, there is no way we are looking at an acceptable head and shoulders pattern. -
Also note that the price makes significantly higher tops each time the RSI tops and that Pd has, on average, been outperforming precious metals as a group:<br><br><a href=http://tinyurl.com/qlb5y >http://tinyurl.com/qlb5y</a><br><br>I will not be an ass and tell people it is not risky but I think there is an average chance that wee see a three white soldiers pattern completed in the next two days resulting in a bullish MACD crossover. If that does not happen, we are still sitting at the bottom of the price channel promising some sideways movement and a later continuation of the uptrend *that only just started a few months ago*. <br><br>There is the possibility of a head and shoulders pattern forming on the weekly chart but would not be confirmed for another month or so:<br><br><a href=http://tinyurl.com/hschm >http://tinyurl.com/hschm</a><br><br><br>I hope these charts are working. I am using the beta version of stockcharts rather than the existing version. Does anybody who does not have an account have trouble viewing these charts?<br><br>Regardless of whether Pd enters a downtrend, there is no way we are looking at an acceptable head and shoulders pattern.
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