JeffShepherd

Hi everyone,

I've recently been interested in silver but I have probably scared myself off it for a while because of how high MACD is on the weekly chart. While looking for somewhere else to invest I took a look at cotton, this is interesting me as it appears to be starting the 3rd wave after bouncing off a trend line. MACD on a 3 day chart (I am starting to use a 3:1 time frame ratio because someone on here said it was a good idea) is turning upwards bringing it in to harmony with MACD on the daily chart

Attached Thumbnails

 

Thank

 

Tom

I think it was a good buy when it broke the 11/30 high. Could still be, but not optimal. Hope this helps.

Thank

 

JeffShepherd

Hi Tom,

Thanks for the charts. I see by your indicators that now may not be as good a place to enter, on the otherhand wave 3 tends to be longer than wave 1, not that I know much about waves though.

Thank

 

Tom

The only thing I don't like is the daily stochastic so high in the range. It is hooked back up, that's a good sign. It could wiggle around up there for long periods. I don't think the upside potential is done, but I do think you would be paying up for the trade. It could take out it's Nov highs. Here's a little different look, a little longer time frame not quite 1:3, but close. 2:5, how does that reduce? 1:2.5

Thank

 

JeffShepherd

I see what you mean about stochastics but look back to the end of July and see how high it was then and how big a run up cotton had from that point.

What do you mean by "paying up for the trade"?

Thank

 

Tom

Another word for not getting in at the bottom of the retrace. Cotton looks strong, don't get me wrong, I like it. You've got me thinking about trading now. It went limit up early this morning. The futures didn't trade today.

Thank

 

JeffShepherd

Hi Tom,

Right, got ya now lol

Thank

 

Tom

News Headlines

Thank

 

JeffShepherd

Hi Tom,

I took the plunge this morning on cotton and made a small profit alreadt

Thank