Bearish Pennant on XPD/USD @ D1

There is a medium-term swing trading opportunity presented by a bearish pennant on the daily chart of XPD/USD (Palladium CFD). It provides a bearish breakout trading setup. The pennant and its pole are marked with the yellow lines. My potential take-profit level is marked with the green line (1641.16). My potential stop-loss level is marked with the red line (2173.27). A short trade can be entered once a daily close well below of the pennant's lower border is registered.

Trade ativo:

Short trade entered today at 9:23 UTC at 1894.51 with stop-loss at 2161.08 and take-profit at 1641.16.