Billy-Ray-Valentine-ITA

Billy-Ray-Valentine-ITA

Yesterday, as expected, breakout was bring the price near 46$ and then his weakness bring the price short. Now I can see a really bearish pattern: the M bearish. The confirmation of this pattern must be searched at this support breakouts: River and Moving Average 50 - 44.80/44.60 Support Moving Average 144 - 43.50 Support Moving Average 288 - 42 Now this supports...

Billy-Ray-Valentine-ITA

45.30 is MA50, this level is important because breakout can bring the price near 46$. We must keep in minf 44.90 is the support, breakout of the support could be rail at 41.90. Good trading.

Billy-Ray-Valentine-ITA

As expected the breakout of 45.50 was strong long. Now we are in dangerous zone because just 1$ for 47$ and could be retracement, (47.89 is the trendline limit). Today a good chance to trading is zone 45.50 again for long position because river and ichimoku supports are at this price. Before of this price, there are others support: 45.70 (Moving Average 30), and...

Billy-Ray-Valentine-ITA

Now we are at resistence test of daily time frame, the bottom of the river could be resistence. and reasonable target could be 41.90 if break the support at 44.60. Anyway breakout of 45.50 could be rail long very strong at 47$. So pay attention.

Billy-Ray-Valentine-ITA

The last covering was failed so I have tried to cover at 43.20 The recovery of trend to be long must break 44.70 area. If this not happen I increase my short position.

Billy-Ray-Valentine-ITA

So, now the cover for short position can be tried on mm30 at 44.34 and 42.43 as the crossing of mm144 and mm288.

Billy-Ray-Valentine-ITA

One important thing is false breakout. 123 low or 123 high at 90% can't do breakout. So now, I must keep in mind a fundamental analysis and speculation rules... there is no reason for breakout to 49$ and it can be a possible trading range at 49 and 44.30. So I try to keep short to 44 or lower and long when test the first important support. Have a fun.

Billy-Ray-Valentine-ITA Updated 

I try short covering at 47.30 or 47 because weak trendline is near this price... so on confirmation I cover my long.

Billy-Ray-Valentine-ITA Updated 

Yesterday I was looking for 123 low confirmation. So.. now I'm short from 47.30 and long from 46.50. The last support for this long il 46.40 under this price could be rail short... but for long rail the first resistence is 47$ breakout could be the next target at 47.30, then 47.60 and 48 and the last 48.38. The price 48.38 is in touch with the trendline. Have fun...

Billy-Ray-Valentine-ITA Updated 

I take a look on 47 level... because the rail long could be very important. At this price I open long, we are talking about test of 48$ or 48.53. If broken the rail become strong long...

Billy-Ray-Valentine-ITA Updated 

In the last view I have opened long and covered with short a 47.50. Short confirmation is price under 47.26. If in the next hours the price is over, I try to cover with long to protect my position.

Billy-Ray-Valentine-ITA Updated 

So now we have 47.60, under this price, I open short, and over 47.85 I continue my long.

Billy-Ray-Valentine-ITA

I'm watching 47.50 area now... if close over this price I open Long position and close short in area 48.

Billy-Ray-Valentine-ITA Updated 

As expected the trendline was resistence. Now I cover with short to protect the gain of my long... I close long if price going under 45.55 and increase long positions if the price stay on this price.

Billy-Ray-Valentine-ITA

Ok, Trend seem strong.. the next target for short covering is 48.80. Near this price I cover my long.

Billy-Ray-Valentine-ITA Updated 

At my last view I was short from 43.30, and then long cover from 41.50. So, the short was closed and now I'm only long. Now we are on resistence and could be a bull trap. If the price is over 45.60 is bull rail and only if the price go back over this price I cover the long with short to protect my gain.

Billy-Ray-Valentine-ITA

As explained in my last view, I watching the resistence, but I said try short only if the price is going under 45.60, but now if you see Time Frame 30 minutes, we can see the 45.50 is support zone... so the short entry become more safe at 45.20.

Billy-Ray-Valentine-ITA

In the last idea I'm watching the resistence at 43.30. I had covered my long's with one short at 43.30 and now my 4 long's are gone, 2 with a little profit and 2 with a little loss. Profit cover the loss and short cover too... now resistence are 41.82 and 41.50. I Cover my short at this price zone.