John_Erik_Hammerstrom

Nice short setup in Cotton

Short
ICEUSA:CT1!   None
Cotton still remains bearish, is still below 200sma, price action has now come in at a 61% retracement, and a 38% retracement, plus previous support now has become resistance, Rsi is getting overbought, but still no bearish divergence, would wait for a reason to enter this trade, either wait for price action to close below 62,30 tomorrow, or wait for a double top with some bearish divergence in Rsi, this trade offers a nice risk/reward 0f 3 to 1
Clause de non-responsabilité

Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.