How to trade this? Remember we know where we are wrong. It is the wave 2 low around 6275. Conservative traders might want to buy a break above wave 1 around 65.05. More aggressive buyers might want to buy a break above 64.15 and use the previous trade as an addition. Remember though that markets are thin because of the holidays
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Guys I know its holiday season and volumes are low but I have never seen such low participation in trading in cotton. Ever. I am sitting in a long position twiddling my thumbs. A wave 3 of 3 should be a wonder to behold - strong to the upside....
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Olu
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How to trade this? Remember we know where we are wrong. It is the wave 2 low around 6275. Conservative traders might want to buy a break above wave 1 around 65.05. More aggressive buyers might want to buy a break above 64.15 and use the previous trade as an addition. Remember though that markets are thin because of the holidays