Here Is My Cotton Trade-Possible Rounding Top

Here Is My Cotton Trade-Possible Rounding Top
Here Is My Cotton Trade-Possible Rounding Top

Cotton Futures—Cotton futures are trading lower for the 4th consecutive session down another 100 points at 75.78 as I am now recommending a bearish position while placing the stop loss above the high that was created on April 9th at 79.57 as the risk is around $1,900 per contract plus slippage and commission.

Cotton prices are now trading under their 20 and 100 day moving average as the trend has turned to the downside as prices topped out over the last several weeks as the agricultural market across the board remain weak especially the grain market.

Planting is in full swing in the southern part of the United States as ideal weather conditions persist as that is also putting pressure on prices coupled with the fact of weakening demand as we still do not have an agreement with China as they are the largest importer of U.S cotton in the world.

The chart structure will improve in next week’s trade therefor the monetary risk will be lowered as I still believe the risk/reward are in your favor so play this to the downside while making sure that your risk 2% of your account balance on any given trade.

TREND: LOWER

CHART STRUCTURE: IMPROVING

VOLATILITY: AVERAGE

 

If you are looking to contact Michael Seery (CTA—COMMODITY TRADING ADVISOR) at 1-630-408-3325 I will be more than happy to help you with your trading or visit www.seeryfutures.com

 

Skype Address: 5da1f85979b7117b

TWITTER—@seeryfutures

FREE TRIAL FOR THE LIMIT UP COMMODITY NEWSLETTER

Email: mseery@seeryfutures.com

If you’re looking to open a Trading Account click on this link www.admis.com

 

MEMBERS LOGIN

Click on Members Login—-Username—coffeeshop

Password—greencoffee88

Click login and then click on Blog and click on the title of the story to read—Mike 630-408-3325

Click on my live chat so we can talk as well

 

There is a substantial risk of loss in futures and futures options. Furthermore, Seery Futures is not responsible for the accuracy of the information contained on linked sites. Trading futures and options is Not appropriate for every investor.