Palladin Energy : PDN : small 5th wave play

Palladin : A small 5th wave play .
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BEFORE
Charted the friday before. What looks like a small 5th wave play become dealy wrong. Look at the chart on on Monday morning.



AFTER
The morning after. The Palladin chart on Monday morning. What look like a small 5th wave very quickly and seriously fall apart. Moral of the story : Always wait for confirmation. Dont pre-emt, especially 4th wave break out.
Looking at the chart now, prices could still be in the 4th wave correction. But it could also be in the process of a larger down trend. Actually in the process of a minor 3rd wave.


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A study on Stochastics and prices and its relevance to each other :



2 bounces below the slow stochs.