Question solved please delete this 
Yes, Cloaking doesn’t break if you use Hanging Shot afterwards, though I’m not sure for what purpose would that be since you’ll only be able to auto-attack during Hanging Shot’s duration and doing so breaks Cloaking.
Great for some very specific escape instances though.
Thanks for the answer!
we get to this path with the idea of sneak behind the front line in gvg, get an strategic point and try to kill the most dps in the process using circling for the reduced aoe defense ratio
That’s sneaky indeed. XD Even if the falcon is visible, I’m sure in the thick of the battle no one will notice it going pass them.
Better delete this post before anyone else copies your idea. 
