Cotton has been moving in a range 62.0-68.0 since August 2014. Funds heavily short could start liquidating the shorts now (see COT Net funds positions indicator, not shown here for clarity). Limited risk - high potential reward (2.6). Tergeting 70.0 by mid November2014.
Comments
Kumowizard
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Agree, even with the 70-72 limit tgt. I am already long with first unit, based on my model. Yesterday and today price action is also very promising. We need a break and close above 64,50, then it will accelerate.
LEONES
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yes looks good - when did you enter long?
Kumowizard
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I started to accumulate last week, added some on pull back yesterday. I am long on March/2015 futures contracts, my avg. is 62,70 now.
If you are interested in my Ichimoku analyses and call on Cotton, you can find it here:
tradingview.com/v/W0jVvsFu/
LEONES
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today pullback not good anyway, If we trade below 61.90 the bear trend could resume
LEONES
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in this case (<61.90) I'm goingto short it
LEONES
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Bad news for the cotton bulls - likely to drop hard in the next 2-3 days