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!
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.
