Below is a daily chart of December Cotton futures.Earlier this month, the downside breakout of the pennant led to a selloff.This selloff found support at the Fibonacci retracement level of 55.00.Tuesday saw a narrow range and inside day, so tomorrow I am looking for a breakout, directional move.I drew arrows to potential breakout levels to watch for tomorrow’s trade.
ID/NR4 Breakout setup
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