Kumowizard
Long

Cotton - Hesitation, pull back or valid bullish break?

ICEUSA:CTH2015   Cotton #2
29 0 0
Weekly:
- Ichimoku picture is still long term bearish , with a very thick Kumo ahead. Senkou B is far above Price, but Kijun Sen got very close. Kijun Sen and the horizontal key support together is the first and most important key level to watch
- Green HA candles with longer bodies, close above Tenkan Sen haDelta is further above SMA3, both lines above zero
- Can we see a rounding bottom to develope in next few weeks? Clearly Price should break back above 62-62,50 key level to continue further correction towards 66-68 area

Daily:
- Breaking short term bearish trendline (and wedge formation).
- Price is slightly above Kumo. For a valid bullish Kumo breakout Price needs to clear previous key resistance which is at 62.
- weak bullish Tenkan/Kijun cross, and future Kumo is about to make a bullish Senkou Span swing.
- Chikou Span may cross above Price candles soon, but for further bullish confirmation it should also move above the past Kumo
- HA candles are bullish , but the last one has small body, with slightly decreasing haDelta and SMA3

The picture looks more and more bullish , but we shouldn't be surprised in case of some consolidation or pull back towards 60-60,50 firts, before Price attempts the next break higher.

Strategy: Hold longs, try to add during a pull back when you see next Heiken Ashi bullish wave signal.
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