Palladium Daily Chart Review. Short Term Bear Trap?

 

pay00-oct-17-2016

 

Palladium has been on one wild ride, which on the surface looks like an impulse.  Looks are deceiving as there are many waves that act like a diagonal more than any impulse wave would.  It still should give us 5 waves up, but they are all counted as connecting zigzags. In the last several months or so, Pallaium did not decline with nice impulse waves, but it was a very choppy decline, which tells me that the recent decline is just a correction. 

This could also produce a very long last 5th wave, but we would have to be ready for any alternate pattern, that may still happen. 

Hits: 1

Share this...
Email this to someone
email
Print this page
Print