Cotton Futures: Low-In-The-Saddle Molokai and a Wall

Cotton futures show a promising Molokai, an ugly Weak Sister and a short-term Wall. Here is how Goodman traders read the chart.

“Every Dog Has His Day.”

The Long-Term Chart

Here is the long-term chart of cotton futures.

A promising Low-In-The-Saddle Molokai began to propagate nicely; then along came the ugly Weak Sister!

At the 1-Hour level, prices have built what Charlie called a Wall. We can begin to look for a short-term Buy Setup to form here.

The long-term Return is around 84 cents; we’ll set that as our objective if and when we get to Trade the Line mode.

This post is educational commentary on chart structure using Goodman Wave Theory. It is not investment advice. Trading futures and FX involves substantial risk of loss.

Good Trading!

Michael Duane Archer

Related Reading

• Sugar Futures: A Swing Jumbo and a 1-2-3 to Watch
• Silver Futures Update: Molokai Nest and a $150-$175 Target
• The Wall: A Goodman Bottom Formation for a Clean Slate

Keep Learning the Goodman Way

If this article was useful, these are the next steps:

• The Method: propagation, intersection and the 3-C Principle, drawn plate by plate.
• The Goodman Library: the books, from Goodman for Grasshoppers to The Goodman 6 & 6.
• The Trader’s Playbook: the Molokai setup in one printed, numbered volume.
• Mentoring: work one-on-one with the authors.

• Cotton futures
• Futures analysis
• Low-In-The-Saddle Molokai
• Return objective
• The Wall
• Trade the Line
• Weak Sister