Forex Trading University - Price Action Trading Commentary

I will use this thread to share with you my daily / weekly price action trading commentary of popular forex pairs, commodities and indices. All commentary is published on my price action trading website as well as my forex trading course. Below is my market commentary for today (Thursday 2nd January 2014).


EUR/JPY - Uptrend Takes a Breather, Looking for New Long Opportunities


The strong uptrend we've recently been experiencing on EUR/JPY has taken a bit of a breather today as the bears got the better of the market on most pairs. Traders can look for price action buy signals on the daily timeframe to rejoin the uptrend should price retest support down near 141.00.

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Gold - Pushes Higher from Bullish Pin Bar


The Gold market pushed higher towards resistance at 1250 as predicted in our forex market commentary for Tuesday 31st December. For the time being we recommend sitting on the sidelines until price retests 1250 where we will look for bearish price action signals on the daily / 4-hour timeframes.

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Crude Oil - Biggest Daily Sell-Off Since November 2012


The Crude Oil market dropped like a rock today produces the biggest daily sell-off since November 2012 (closing 2.7% down on the day). If price retraces back up to resistance at 9800/75 we will look for bearish price action signals on the daily / 4-hour timeframes to join the recent bearish momentum in this market.

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About: Lewis is a professional forex trader specialising in price action trading strategies. He has published a free price action forex trading course on his website and regularly provides live trading setups and market commentary for aspiring traders.

Weekly Forex Trading Commentary - Sunday 5th January 2014

GBP/JPY - Bullish Pin Bar from Support, More Upside to Come?

This pair closed on Friday with a bullish pin bar from the 21-day EMA after producing a 4-hour buy signal which we discussed in our member's trading forum. Traders that are not already long on this market could consider joining this uptrend off the back of Friday's pin bar with stop-losses below the 171.00 phsychological level.

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USD/JPY - Drops a Bullish Pin Bar, But Err On The Side of Caution!

Friday produced a bullish pin bar on this pair but be careful! I have seen this sort of setup occur so many times... Keep Reading

Daily Forex Trading Commentary - Monday 6th January 2014

USD/JPY - Price Dips Back to Support, Uptrend Still Intact

Price dipped back on USD/JPY today pushing below the low of Friday's pin bar, notice the shake-out attempt we predicted in our weekly commentary did occur but price failed to move below support at 103.75. Given the close of today's bar is back above 104.00 we see potential for this market to regain some traction and push higher still. If price closes below 103.75 on a daily basis that would be a bearish development invalidating our current bullish bias.

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NZD/USD - Inside Bar Setup, Inline with Recent Bullish Momentum

We see potential for today's inside bar on NZD/USD to breakout to the upside and ... Keep Reading

Daily Forex Trading Commentary - Tuesday 7th January 2014

Gold - Struggling to Move Higher as it Approaches 1250 Resistance

The Gold market tried to push up into resistance at 1250 again today but failed for a second time. Tomorrow we will be looking for one last attempt higher on the 4-hour timeframe for price action sell signals to join the dominant bearish trend.



More Commentary

You can read more forex trading commentary here.

Daily Forex Trading Commentary - Wednesday 8th January 2014

FTSE 100 Index - Waiting for Price to Dip Back to Support

Still nothing to do on this market, if price dips back to support at 6660/30 we will look for price action buy signals on the daily timeframe to enter this market.



EUR/USD - Price Sells-Off From 8-Day EMA

The bears still have a solid grip on this market, the EUR/USD moved back up to... Keep Reading

Daily Forex Trading Commentary - Thursday 9th January 2014

Crude Oil - Produced a Bullish Counter-Trend Pin Bar, Don't Try And Catch a Falling Knife!

The Crude Oil market produced a bullish pin bar from key support today, there is absolutely no way we would trade this setup long given the recent bearish moment, it would simply be far too risky. We will wait for price to retrace back up to the daily EMAs where we will look for bearish price action sell signals to rejoin the recent bearish momentum in this market.



USD/JPY - Hovering Above EMAs and Horizontal Support

The USD/JPY is still consolidating above the dynamic EMAs and horizontal support after the pin bar we discussed in our weekly commentary... Keep Reading

Weekly Forex Trading Commentary - Sunday 12th January 2014

GBP/USD - Drops Bullish Pin Bar in Daily Uptrend

The trend in this market has been up since the middle of November last year, despite some choppy price action lately the EMAs are still directed to the upside and there have been two bullish pin bars over the last few days. We see potential for a pop higher from Friday's bar, but be careful as there is key resistance up at 1.6600. One way to play the current pin bar would be to wait for a retracement or look for an entry on the 4-hour timeframe to get a better risk / reward ratio on this trade.



EUR/USD - Finds Support at 1.3550, Looking to Sell Near 1.3800

The EUR/USD found support at 1.3550 towards the end of last week, from here we see potential for the market to retest key resistance up at 1.3800/20... Keep Reading

Hey Traders,

I'm back with my market commentary (thought I'd give the exclusive thing a go over at fxstreet.com but decided I'd rather share my commentary with as many audiences as possible!)... So a day full of big moves in the market today, here's my view:

Daily Forex Trading Commentary - Thursday 9th January 2014

AUD/JPY - Massive Sell Off After Inside Bar Setup

The AUD/JPY got absolutely crushed today after the pin bar setup we discussed in our member's commentary on Tuesday 21st January. This would have been quite a difficult setup to profit from as the market attempted to 'shake-out' weak shorts in yesterday's session. A safe stop placement would have been above the 21-day EMA and kept any traders in this one to profit from today's massive move down. From here we see potential for more downside as price has closed below support at 0.9100.



Nikkei 225 Index - Massive Sell Off After False Break Of Resistance

The Nikkei 225 Index sold off from the false-break that occurred at 15800 today and has already given traders the opportunity to make 2R profit. From here we... Keep Reading

Weekly Forex Trading Commentary - Sunday 26th January 2014

AUD/JPY - Massive Sell Off Continues, More Downside To Come?

The huge sell-off triggered by the bearish pin bar that we discussed in Tuesday's trading commentary continued into the end of last week. From here we will wait for a retracement back to the daily mean before looking for price action sell signals to rejoin the selling in this market. Price is very extended at the moment, so traders that are not short should wait for a correction before trying to join this market.



GBP/USD - Massive False-Break / Outside Bar At Key Resistance

The GBP/USD produced a huge false-break / outside bar in Friday's trading session at 1.6600 key resistance. Next week we see potential for... Keep reading this forex trading commentary

Daily Forex Trading Commentary - Tuesday 28th January 2014

AUD/USD - Rejects 21-Day EMA And Near-Term Resistance

The AUD/USD rejected the 21-day EMA and near-term resistance toady as it tried to push higher. From here we see potential for the downtrend to resume as the bears are well and truly in control of this market.



GBP/USD - Technically Formed A False-Break

The GBP/USD has been struggling to move higher after the false-break we discussed in our weekly trading commentary. It has moved up to... Keep reading this forex trading commentary

Daily Forex Trading Commentary - Wednesday 29th January 2014

Crude Oil - Bullish Pin Bar From Key Support

The Crude Oil market dropped a bullish pin bar from key support today and we see very high potential for this market to push higher from here. We have posted our live trade in the member's forum so please check it out for details of our entry, stop-loss and take profit.



AUD/JPY - Bearish Outside Bar Rejecting EMAs And Old Support (Turned Resistance)

This market is in a strong downtrend now and has confirmed the break below the 0.9100 level by dropping a bearish outside bar today and... Keep reading this forex trading commentary

Daily Forex Trading Commentary - Thursday 30th January 2014

GBP/USD - Sells Off From False-Break At Key Resistance

The GBP/USD sold off from key resistance today following the price action false-break setup we discussed in our weekly trading commentary. From here we see potential for price to retest key support down near 1.6300 and there is plenty of room for 1:2 risk / reward​ for those that entered at the 50% level of the false-break bar.


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EUR/USD - Sells Off Aggressively From Bearish Pin Bar

The bearish pin bar we discussed in our weekly trading commentary came off significantly lower today and... Keep reading this forex trading commentary

Weekly Forex Trading Commentary - Sunday 2nd February 2014

GBP/USD - Market Moving Lower From Price Action False Break Setup

This pair finally started to drift lower from the false-break that we discussed in last week's market commentary on Thursday and Friday. From here we see potential for the market to retest key support down at 1.6300 and will be holding our short trade for 1:2 risk / reward (please see the GBP/USD thread in the member's forum​ for exact entry and exit criteria).



EUR/USD - Close Below Key Support At 1.3500 Following Bearish Pin Bar

The EUR/USD finally closed below key support at 1.3500 on Friday and we now see potential for this market to... Click here to keep reading this price action trading commentary.

About: Lewis is a professional forex trader specialising in price action trading strategies. He has published a free price action forex trading course on his website and regularly provides live trading setups and market commentary for aspiring traders.

Daily Forex Trading Commentary - Monday 3rd February 2014

AUD/USD - Bearish Price Action Pin Bar From Key Resistance

After spending the last four days consolidating below key resistance and the EMAs this market has dropped a bearish price action​ pin bar inline with the recent downtrend. From here we see potential for this market to sell-off to the downside and will be looking to take a short entry on this pair. Logical stop placement would be above the high of the pin bar and key resistance (for educational purposes only).



GBP/JPY - Big Sell Off Below Key Support

The GBP/JPY sold off significantly in today's trading session as predicted in our member's trading commentary yesterday. From here we will be looking for... Click here to keep reading this price action trading commentary.

About: Lewis is a professional forex trader specialising in price action trading strategies. He has published a free price action forex trading course on his website and regularly provides live trading setups and market commentary for aspiring traders.

Daily Forex Trading Commentary - Tuesday 4th February 2014

NZD/USD - Bullish Price Action Outside Bar From Key Support

This pair formed a massive price action outside bar setup today as the NZD rocketed higher along with the Aussie dollar. From here we see potential for this market to retest key resistance up near 0.8400 and we will be looking to enter long around the 50% retracement level of this outside bar with our stop-loss placed below the low (for educational purposes only).



Crude Oil - Price Rejects Dynamic Support Forming Inside Bar In The Process

The Crude Oil market pushed higher today after price dipped back to the EMAs and... Click here to keep reading this price action trading commentary.

About: Lewis is a professional forex trader specialising in price action trading strategies. He has published a free price action forex trading course on his website and regularly provides live trading setups and market commentary for aspiring traders.

Daily Forex Trading Commentary - Wednesday 5th February 2014

GBP/USD - Double Price Action Pin Bar From Key Support

The market did push lower today following the price action pin bar that formed yesterday but gave up most of its losses into the close. This has formed a double pin bar at key support and we now see a high potential for this market to retest key resistance up near 1.6600 now. If price doesn't get traction off of this pin bar we could see bigger sell off, but this is definitely the less likely scenario.

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Click here to read more of Lewis's price action trading commentary​.

About: Lewis is a professional forex trader specialising in price action trading strategies. He has published a free price action forex trading course on his website and regularly provides live trading setups and market commentary for aspiring traders.

Daily Forex Trading Commentary - Thursday 6th February 2014

GBP/USD - Third Bullish Price Action Pin Bar From Key Support!

The market formed a third bullish price action pin bar from key support today ahead of tomorrows Non-Farm Payroll announcement. There will be high volatility in the markets tomorrow as the first major US news announcement is released for 2014. Tomorrow's trading session will determine which way this market goes from here - I suspect back up to 1.6600 to retest key resistance​.



EUR/USD - Bullish Price Action Outside Bar From Key Support

This pair produced a bullish price action outside bar setup today from key support at 1.3470/80. From here we see potential for... Click here to keep reading this price action trading commentary​.

Weekly Forex Trading Commentary - Sunday 9th February 2014

EUR/USD - Finds Support At 1.3500, More Upside To Come?

The EUR/USD found support down below 1.3500 last week, on Friday the market moved almost exactly how we predicted in our market commentary on Friday and we now see potential for more upside into next week. We will be watching 1.3700 carefully next week for any bearish price action​ signals as this held as resistance in the past.



GBP/USD - Rally Higher From Key Support And Price Action Pin Bar

The pound pushed higher from key support in Friday's session as we predicted in our market commentary last week. From here we see potential for this market to... Click here to keep reading this price action trading commentary​.

About: Lewis is a professional forex trader specialising in price action trading strategies. He has published a free price action forex trading course on his website and regularly provides live trading setups and market commentary for aspiring traders.

Daily Forex Trading Commentary - Monday 10th February 2014

AUD/JPY - Bullish Price Action Pin Bar From Key Support

The AUD/JPY formed a bullish false-break / pin bar from key support at 91.00 today. From here we see potential for a push higher and there is some news out of Australia in the next couple of hours so it's likely the Asian markets will start moving off the back of it.



NZD/USD - Inside Bar, Price Will Likely Breakout Either Up Or Down Very Soon...

An inside bar technically formed on this market today (thanks to one of our member's for pointing this one out in the live trading forum!), from here I see potential for... Click here to keep reading this price action trading commentary​​.

About: Lewis is a professional forex trader specialising in price action trading strategies. He has published a free price action forex trading course on his website and regularly provides live trading setups and market commentary for aspiring traders.

Daily Forex Trading Commentary - Tuesday 11th February 2014

AUD/JPY - Explodes Higher From Price Action False-Break

The AUD/JPY exploded higher today following the price action false-break setup we discussed in our trading commentary yesterday. This setup has already given up 1:2 risk / reward and we have personally closed our position for a healthy profit. This doesn't happen very often in the market, we usually have to give our positions a few days to develop, so it's nice when the market moves with such conviction in a short period of time, now we'll wait for another obvious setup before acting again.



EUR/USD - Bearish Price Action Pin Bar, Just Shy Of Resistance

This pair dropped a bearish pin bar today which formed just shy of resistance at 1.3700. There is a high chance the market will... Click here to keep reading this price action trading commentary​​​.

About: Lewis is a professional forex trader specialising in price action trading strategies. He has published a free price action forex trading course on his website and regularly provides live trading setups and market commentary for aspiring traders.