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Symmetrical Triangle Pattern on Daily Chart of Palladium as of 2020-02-16

February 17, 2020 at 0:33 by Vladimir Vyun

A symmetrical triangle chart pattern has formed on the daily chart of palladium, the same as on the gold chart. Palladium was also trading in an ever-narrowing range, from which the commodity should break sooner or later. Being a continuation pattern, symmetrical triangle suggests that an upside breakout is more likely.

The present chart has the similar setup to the chart of gold: yellow lines show the triangle itself, the cyan line offers an entry point for long positions, the green line suggests a profit-taking objective for bulls.

You can click on the image to see a full-size version:

The chart was built using the ChannelPattern script. You can download a MetaTrader 4 chart template for this palladium pattern. You can also trade it using the free Chart Pattern Helper EA.

If you have any questions or comments regarding this symmetrical triangle pattern on the chart of palladium, please feel free to submit them via the form below.

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