HutsonBay

HutsonBay

Trade what we see: We see a nice 4hr support line attracting a lot of buyers. Overall the daily time frame provides a longer term bearish resistance line, which sits above. I am looking for a break lower and a push through the 50% retracement level, with a TP at the 61.8% level. The back end of this week is data heavy for the US, so fundamentally we have some...

HutsonBay

Trade what we see: Price is following a bearish channel. We are currently sat in the middle of a supply zone, but given the fundamental pressure on GBP, this setup looks great. We have two take profit opportunities based on the support channel and secondly a Fib Level.

HutsonBay

Trade what we see: Price is following a bearish channel with lower highs forming. We have two support lines to work off, one formed on the 4hr chart and the second formed on the daily time frame. A pin bar is forming now and I am waiting to setup this short position which has a great risk / reward ratio. If this pair breaks out and we see a successful retest,...

HutsonBay

Trade what we see: EURGBP has a nice neckline with the overall weekly chart support around the 0.8589 mark. This neckline has now been broken and I will be short on this pair. Using Fib as a protection for stop level.

HutsonBay

Trade what we see: GBPJPY on the daily frame has been over extended and given the uncertainty around the UK economy and the Bank of England Sentiment / Brexit, the break below now could gather some momentum. Stop Loss above the S/D zone

HutsonBay

Trade what we see. Nice break and re-test on the 4hr chart. It looks like a stop hunt occured during the re-test and people with really tight stops probably got slaughtered, or they through the market was turning bullish and then got stopped out again. We are in quite a messy zone and i'm waiting for more red candles to appear, but the setup at the moment looks like this:

HutsonBay

Trade what we see: EURZAR on the higher time frame trading on a bullish trend line (support). On the 4hr chart, we see a clean break with a lot of sellers entering the market. We saw an exhaustion phase and the buyers successfully re-tested the same trend line which has now turned into resistance. This new trade is joining the next wave of sellers entering the market.

HutsonBay

Trade what we see: On the daily timeframe, there was a lovely break to the downside that attracted a lot of seller. We have broken several months of buying with a decent break lower. The trend line meets up with some previous buying/selling action, so I am waiting for a break lower and then adding to the short bias. Targets again drive by Fib levels. Stop is...

HutsonBay

Trade what we see: Price had been on a bullish run, followed by a quick double top at 0.7877 level. We have then printed repeated lower highs, breaking the 4hr bullish trend line. The trade is simple, we wait for the pull back into the next lower high and we short to the 71.8% fib level where previous Supply and Demand was found.

HutsonBay

Trade what we see: Price topped out at 87.112 after being over extended on a 4 week bullish run. Sellers entered the market but observed the 4 hr bullish trend line. Price has now broken to the downside and we have a neck line which i am watching for a break. Fib levels determine the TP level which sits at 81.97

HutsonBay

Morning Guys I have been shorting GBPUSD from the 1.41 range as the overall momentum on the daily chart has been so strong. Looking at the 4 hr chart, there are still more short opportunities. We are breaking into the next supply and demand zone (I am wary of the number of downward waves we are seeing, but placing a stop above the current directional trend line),...

HutsonBay

Slightly late to the short party here, but the bearish sentiment looks great. Euro weakness seeping in from Italy. Daily ascending trendline now cleanly broken with a re-test. Shorts loaded in and looking for a push lower to S/D zone.

HutsonBay

Price has broken the daily bearish trend line and has pushed for a re-test. We’ve had a pin par forming and I am looking for another push lower to the daily/weekly trend line around the 1270 mark. Further shorts could be loaded around this area, depending on the sentiment.

HutsonBay

We now have a channel forming with bearish sentiment but I am sitting on the sidelines waiting for a break and re-test before entering more positions.

HutsonBay

If you haven't been shorting EURUSD and GBPUSD then you've missed two very simple channels. EURUSD still remains very bearish. I will be looking at GBPUSD again ahead of the BOE rate decision on the 10th May.

HutsonBay

NZDUSD - support turned resistance. We have seen a nice break and some profit taking before more short sellers enter the market. Good risk reward trade and stop above the S/R line

HutsonBay

A very simple trade setup on the 4hr chart. Looking for a nice run back to resistance

HutsonBay

The daily time frame provides some excellent fib retracement support. On the 4 hour chart, the market has been trending in a bearish channel. The recent break lower driven by USD bulls has now retest the previous resistance line. Looking for the market to push lower, using NFP as rocket fuel today.