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lewisbarber
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Lewis Barber is a professional forex trader with experience across a large variety of markets. Although he focusses primarily on forex trading Lewis also has experience of trading stocks, commodities and indices as well. He believes in adopting simple, straightforward and easy to follow... More
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  • Weekly Forex Trading Commentary - Sunday 1st June 2014
    GBP/JPY - Small Price Action Pin Bar at Support Pops Higher, Outside Bar from Last Week Could Play Out From Here

    GBP/JPY did dip back quite far following the outside bar / false-break we discussed at 170.00. Prices actually dipped below the low of the false-break bar so may have stopped traders out if they had buy-limit orders pending still. It's usually sensible to cancel pending orders if the market does not play out in 2-3 days, and this market really too 5-6 days to dip back, so we would not recommend holding the limit order we discussed for this long. That being said, we got a small bullish pin bar on Thursday, which seems to have held into Friday's trade as prices did pip higher. From here we mat see a move back to 172.00 and ultimately 173.00 if prices can pick up some good momentum.

    (click to enlarge)

    Jun 01 5:29 PM | Link | Comment!
  • Daily Forex Trading Commentary - Monday 26th May 2014
    AUD/USD - Consolidating Above Key Support, Looking For Price Action Buy Signal

    This pair has been consolidating above key support for the last few days now and we are waiting for a good price action buy signal to join this market. There remains a high probability that this pair will start moving back to the top of it's trading range shortly and traders can wait for a price action signal on the daily or 4-hour timeframe to trigger an entry into this market over the next few days. If support at 92.00 breaks on the other hand, we will probably see a significant move lower.

    (click to enlarge)

    EUR/JPY - Key Support Holding Strong, Price Action Pin Bar Could Play Out Nicely

    The price action pin bar we discussed in our market commentary last week seems to be holding nicely at key support (despite being counter-trend). The fact that the market has failed to push below 138.50 for 3 days in a row following the pin bar suggest we may see a pop higher this week.

    (click to enlarge)

    May 26 6:33 PM | Link | Comment!
  • Daily Forex Trading Commentary - Wednesday 21st May 2014
    USD/JPY - Unfortunate Shake Out Here Too!

    There was a nasty shake-out on this market too today, but the resulting pin bar is really quite nice. Sometimes this happens in trading, and you just have to take it on the chin. There is now another, much better signal, and therfore, it makes sense to consider trading an upside bounce from this setup. Unlike EUR/USD, this pin bar has closed much more bullish.

    (click to enlarge)

    May 21 6:32 PM | Link | Comment!
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