Seems like break out of falling wedge, almost identical move like in December 2018. My target is on POC, 68 dollars.
Hi guys. I hope my post finds you all well ! I post my recent trading idea specific for Cotton No.2 CT1!. As we see from digramm we are at a recent bounce back from the upper bollinger until the median, I expect that it will go as far as the lower bollinger with a target price at 72,20 $ . This opinion is confirmed also by ADX indicator which signs a short signal...
Simple application of harmonics/channeling. Essentially (or similar) to a wave 4 in EW. Ride to 5, and look for the corrective turn back down. Up and back!
I built a calendar bull spread CTK19-CTN19. A possible entry is at the price -1,20 with SL -1,40 ($100/contract) and PT -0,50 ($350/contract).
There is a possible oversold mood in the Cotton market. Around price 78 is repeatedly created a quite obvious S/R zone and I see a potential to price 85.