HutsonBay

HutsonBay

High risk trade. Comments from Barnier yesterday confirmed that the EU were prepared to offer the UK a bespoke package to avoid a no deal Brexit. The rally brings GBPCAD straight back into the daily descending resistance line. We have a clear zone of sellers waiting to push price back to 1.6591 Following a break of this support, we could expect a leg lower to...

HutsonBay

Price broke to the downside with confirmation of a re-test. Following a sharp bearish run, price has pulled back, and another short opportunity has presented itself. We had a clean break on the 1hour chat indicated by the blue square box. Momentum is on our side now and we are looking for the market to reach its next support level.

HutsonBay

The daily time frame shows the market following a bearish resistance level. On the 4 hour chart, we see lower lows forming as the USD retreats across the board. Things could get bumpy around the two dotted line areas as they represent previous resistance zones.

HutsonBay

Price is respecting its bearish resistance and we have to zones to use as the take profit. Stop above recent swing high.

HutsonBay

Short on the 1hr time frame

HutsonBay

Trade what we see: Crude has been on a very long bullish run which ended in an exhaustion phased. Buyers re-entered the market but were stopped out. Looking for bearish momentum back to it's first fib level of 72.35 We should meet the MA cross around this level so would seem appropriate to exit the trade.

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Trade what we see: EURGBP has broken its wedge pattern We are above the 50% retracement from the yearly highs. We have both the MA lines sweeping up behind which should encourage more support.

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Trade what we see: EURNZD has a lovely support trendline which tracks back on the daily chart to January 2018. This trend line has now been broken and we are below the 50% retracement level. This is the second re-test of the broken trendline and we can see a lot buyers and sellers getting trapped. I am cautiously entering this short but my two main concerns are:...

HutsonBay

Trade what we see: Price has been in a bearish channel with a recent break to the upside. We have three bullish indicators: Moving Averages 23.8 Fib Level Support trendline (two of them)

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Trade what we see: EURUSD really over extended on its bearish run. We are now seeing a break against the bearish resistance line. We are looking for a clean break before entering a long position to it's fib retracement level.

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Trade what we see: On the 4hr chart, the bearish run has come to an end. Bullish candle has created an opportunity to break higher.

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Trade what we see: Price has formed a wedge with a bullish break out formed last night. Following the break out, bullish engulfing candles suggest that buyers are in control.

HutsonBay

Trade what we see: Price has broken it's bearish resistance line and smashed through a previous S&D zone. Bullish engulfing candles suggests buyers are in control and we are looking for a rally higher to it's fib level.

HutsonBay

Trade what we see: Gold has formed a lovely bearish channel with lower lows and lower highs. We currently are approaching another swing high and a fib retracement, and once we have bearish confirmation, this pair offers a nice risk reward. Take profit at a S/D zone.

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Trade what see: USDCHF very over extended after a huge bullish run. This run came to an end and the market peeled back to its 21.8% retracement level. Give the USD sentiment at the moment, this trade has great potential for another leg higher. First of all we need to break the resistance trend line. Will update once position is live.

HutsonBay

Trade what we see: The market has been on a very bearish run, so the logic behind this trade is retracement and joining the profit taking. Currently we are sitting at two key zones, a supply and demand zone and the 32.8 fib. On the 1hr, we have broken resistance and now we have a long bias towards 1.79 (next fib retracement).

HutsonBay

Trade what we see: Ignoring the worrying political crisis in Italy, we have a quick win on the 4hr chart where buyers have entered the market on the support line. Looking for 50% retracement before another leg lower, where a short position could be considered.

HutsonBay

Trade what we see: Price was trading sideways using fib levels to determine short term direction. Fundamentally the USD is still bullish and we have GDP and NFPs this week to contend with. Price has broken the daily bearish trend line and buyers have entered the market. We've pushed passed the 71.8% retracement and now looking for TP at the 1.2 extension level.