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Cotton No. 2 Futures
Long
Updated

Cotton prices on the stepping stone?

68
As described here - I see the signs are right for a bullish move in cotton.
Note
Placed another limit buy in the market to add to my position but it wasn't reached so far. Need to consider entering again later ....

snapshot
Trade closed manually
It doesn't look good. The Jul contract is forming rather a bearish wedge pattern. The move to the upside is rather weak. So I take my few bucks profit and sit on the sideline for now. If the bearish wedge will be broken to the upside I'm in again ...

snapshot

The other possibility would be, if the current contract is getting broken to the upside - then I assume that the Jul contract will follow. But this looks also not bullish ATM:

snapshot
p4917
bullishsetupCommoditiescommoditysignalscommoditytradingconsolidationcottontradeFibonaccimovingaveragepriceactionSeasonalityseasonality-tradingseasonaltendenciesTrend Lines

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bullishsetupCommoditiescommoditysignalscommoditytradingconsolidationcottontradeFibonaccimovingaveragepriceactionSeasonalityseasonality-tradingseasonaltendenciesTrend Lines
p4917

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.