PALLADIUM - Golden Window Buy 🚀

Having had what appears to be a start of trend breakout pump, PALLADIUM has had a violent sell off back down to dip slightly below the 0.618 into the retracement Golden Window.

This is a classic Elliott Wave 2 ratio here and good chance it will bounce from this area.

Reasonable chance this will end up being the retracement bottom.

Notice that the RSI is curling up and could be a clue that a bounce is coming.

In higher time frame PALLADIUM appears to have passed a major bottom and the uptrend is now underway.

My previous buy was at the 1.618 $941 taken from the 2 pivots of distribution.

This is my first offering for TradingView and it should be a good one as this is a deep pull back and PALLADIUM may be beginning a multi year uptrend and perhaps even this area will prove to be a perpetual low.

Not advice.

Comment:

On the monthly chart notice how this area has dipped below the 2001 peak which will likely prove to be a 22 year re-test of that top.

And in lower time frame the probe below can prove to be a shakeout pattern; tapping into the high liquidity below the 2001 support structure.

Also monthly RSI just about tapped into oversold territory.

Combined with the very tidy 1.618 Golden Window extension capturing the low, this is very likely a major bottom and now uptrend underway.

Comment:

Also note the RSI hasn't been this low for 20 years.