I've been planning on switching to a cold storage format to keep my coins but I want it to be in a way of watch only wallet from my mobile where I can initiate my transactions .
A cold wallet and a watch only wallet is different.
With a watch only wallet, you only can watch its balance and transaction history but you don't have access to its private keys so you can not broadcast any transactions from that Watch-only wallet.
With a cold wallet, you have access to private keys and you can make transactions from it.
Creating a watch-only wallet with ElectrumCreating a cold storage wallet in Electrum