- picture is neutral, with some bias. Price enterred the thick Kumo, and is above both Tenkan and Kijun. If you look 26 weeks ahead, you can see that it trades around future Senkou B level, which is considered as the long term equilibrium price. You can also realise, that Senkou A and Senkou B are getting close to a cross (future Kumo twist. Tenkan and Kijun are enterring the Kumo as well. Until Price holds above 62,50, the bias will remain within the Kumo, and we may see an attack to 69-71 area.
- setup is still . Price has built a wider but well tradable channel during this year. This of course doesn't mean that the channel will hold forever. If the trend accelerates, then the upper line will be broken, and of course it by some reason bears get back into control, then below 64 the channel would become invalid.
- Heikin Ashi signal looks like the pull back phase and Kijun retest may be done, and within a few days we'll have a chance to see the start of a new wave to 69 tgt . For the higher probability (confirmation), we need a doji-like (better if it had a small green body) candle, followed by a green one tomorrow, which would also mean haDelta/SMA3 to come back above zero line.
All in all I still like to hold some long in Cotton . I had flat position, but in last few days I have bought some ard Kijun Sen.
As you see, there is always something trending, and has some signal from support. These trades have a lot higher probability compared to those trades guessing within a range (e.g. EURUSD right now).
Trade with the trend!