(5396,1,'2015-02-28 13:13:39','2015-02-28 18:13:39','<h3 style=\"text-align: center;\"><strong>THE PREMIUM SERVICE\r\n</strong><strong>(The Home of Single-Lot $$$$ Trading)</strong></h3>\r\n<strong>DATE: 01.03.2015\r\n</strong><strong style=\"line-height: 1.5;\">REFERENCE: #49\r\n</strong><strong>BLOG: THE PREMIUM SERVICE</strong>\r\n\r\n&nbsp;\r\n<ol>\r\n	<li><strong><span style=\"text-decoration: underline;\"> INTRODUCTION / LOOKING BACK OVER THE PAST WEEK:</span></strong></li>\r\n</ol>\r\nThe Greek Tragedy played out early in the week with the EUROGROUP doing what they had to do by accepting the Greek governments proposals for an extension of 4 months to the existing credit line. Make no mistake, like a lot of people, I am fully expecting the GREEK BAILOUT ACT III to start around June this year.\r\n\r\nI was suckered on Tuesday with Janet Yellens’s testimony and entered en mass nearly all my favourite commodity cross-rates long… and… I am still in them. For the past 48 hours they have in fact just moved sideways, there has not been too much movement. I have all my commodity cross-rate trades in a separate account so that they do not distract me from any other trades on my main screen. So all I do is look at them once or twice a day and look at the net $$$ position. It has not really changed much since Wednesday’s close of business.\r\n\r\nThe other big news of the week was the U.S.$ index (DXY) breaking out on Thursday on the back of good CPi data.\r\n\r\nThese markets take no prisoners at all. In the early European session the DXY hit trend line support, I have no doubt that traders were lining up to be dollar bears as it approached support. After the data release it leaped up and didn’t just hit trend line resistance it broke through. I can imagine the $ bears were left swearing and cursing at their terminals. On Thursday we closed above the breakout level and held.\r\n\r\nThen on Friday, we had great GDP data which consolidated the move higher from which we broke lower on really poor housing and Chicago PMi numbers, only to bounce of the trend line and move higher. If the DXY is rallying on poor data this is something to hold on to and remember. This in itself for some traders is enough to keep them a USD bull.\r\n\r\nThe weekly DXY close is shown on the chart below.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/USD-DXY-SECTION-1-in-BLOG-01032015.png\"><img class=\"aligncenter size-large wp-image-5383\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/USD-DXY-SECTION-1-in-BLOG-01032015-1024x442.png\" alt=\"USD DXY SECTION 1 in BLOG 01032015\" width=\"1024\" height=\"442\" /></a>\r\n\r\n&nbsp;\r\n\r\nI am a USD bull, for reasons such as: -\r\n<ul>\r\n	<li>Central Bank divergences.</li>\r\n	<li>S&amp;P approaching the 261.8% fib extension (pullback imminent in my opinion).</li>\r\n	<li>JPY divergence.</li>\r\n	<li>GOLD struggling to keep above the $1,200.00 level.</li>\r\n	<li>OIL, although extremely choppy I do think is moving lower. Maybe not to $20 Citi forecast but at least a re-test of the recent lows and maybe a dip into the $30’s.</li>\r\n	<li>Finally, the DXY has broken higher above a 29-year trend line and has extremely bullish looking chart formations. The Central Bank divergences between the FED and ECB are enough to keep me bullish the USD.</li>\r\n</ul>\r\nThe markets are very range bound and will continue, in my opinion, to consolidate for a little while longer. The USD breakout is hard for market makers to understand. For basically a lifetime, they have been trading with a depressed weak currency and, more recently a safety blanket provided by the FED of keeping the markets heavily liquidated (QE) with low interest rates forcing investors to buy risk assets such as stocks to obtain a return. Both have now gone. We are in a transitory (love that word… if it’s good enough for Yellen and Draghi it’s good enough for me!) period.\r\n\r\nThis period of transition from QE (Quantitative Easing) to raising interest rates seems at times, when listening to analysts and guests on CNBC and Bloomberg, to be a period of dis-belief, it is weird. The FED will raise rates. This is a fact. The stock markets are supposed to be future pricing mechanisms, they know that it’s (rate rises) coming they just don\'t want to believe it as it will be the end of an era. So, the equity markets are really squeezing every last drop of juice out of the lemon before the inevitable hits.\r\n\r\nI haven’t mentioned GREECE yet. No doubt next week they will announce that after receiving the bailout/loan extension they will want to fully negotiate their bailout deal as part of their election-winning mandate for the Greek people. As I wrote last week, the EUROGROUP v GREECE … IT’S NOT OVER YET. In my opinion this has NOT EVEN STARTED!! Happy fun days are ahead.\r\n\r\nLike I said last week, I believe that we are going to have a period with a trending market for a little while as all the correlations should hopefully fall into place and line up correctly as equities fall back, which I believe they will do very soon.\r\n\r\nAs always, patience is the key.\r\n\r\n&nbsp;\r\n<ol start=\"2\">\r\n	<li><strong><span style=\"text-decoration: underline;\"> WHAT’S ON MY MIND: -\r\nTHE FUNDAMENTAL TRADERS OVERVIEW:</span></strong></li>\r\n</ol>\r\n<h4 style=\"text-align: center;\"><strong>DON’T BE CRAZY AND IGNORE USD STRENGTH…\r\n</strong><strong>THE USD RALLY GOES ON</strong><strong> </strong></h4>\r\nI referenced a few comments earlier with regards to the USD. I now want to expand my earlier comments with a few more thoughts.\r\n\r\nThere is something really building with the USD index (DXY). I have below 3 charts of the USD index (DXY). As usual I have kept the charts as clear and as simple as possible to follow.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/DXY-2.1-01032015.png\"><img class=\"aligncenter size-large wp-image-5384\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/DXY-2.1-01032015-1024x454.png\" alt=\"DXY 2.1 01032015\" width=\"1024\" height=\"454\" /></a>\r\n\r\nThe monthly chart above is very straightforward. It just shows the 29-year trend line that was broken in July 2014. Ever since that date the USD has been on the tear. One could argue that the sleeping giant has now awoken.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/DXY-2.2-01032015.png\"><img class=\"aligncenter size-large wp-image-5385\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/DXY-2.2-01032015-1024x441.png\" alt=\"DXY 2.2 01032015\" width=\"1024\" height=\"441\" /></a>\r\n\r\n&nbsp;\r\n\r\nThe purpose of this monthly chart is just to show that since the last high in 2002 to the lows in 2008 using a Fibonacci retracement we have just passed the 50% retracement level of that move at 94.60. The DXY closed last week just above a nice round number of 95.00 at 95.26 and the 61.8% retracement above 100.00 at 100.31 looms.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/DXY-2.3-01032015.png\"><img class=\"aligncenter size-large wp-image-5386\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/DXY-2.3-01032015-1024x447.png\" alt=\"DXY 2.3 01032015\" width=\"1024\" height=\"447\" /></a>\r\n\r\nThe purpose of this chart is just to drill down a little closer using a daily chart. It is very clear to see what an orderly move has taken place. It powers but it’s not explosive. Every substantial move higher has a period of consolidation in what is a bullish flag formation. I have drawn three bull flags on the move since July last year.\r\n\r\nThere is nothing FUNDAMENTAL in my mind that would stop this move continuing unless Janet Yellen at the FED decided to change U.S. Monetary Policy all of a sudden. The chances of that coming out of the “crash” are remote and in itself would probably send the U.S. economy into recession.\r\n\r\nWhat does it all mean for Forex traders?\r\n\r\nFor months as a FUNDAMENTAL trader 80% of my trades within the PREMIUM SERVICE have all been slanted towards USD strength using Central Bank divergences to further support my trade set-ups.\r\n\r\nI wrote the section below earlier in the blog…\r\n<p style=\"text-align: left;\"><strong><span style=\"color: #0000ff;\"><em>I am a USD bull, for reasons such as: -</em></span></strong></p>\r\n\r\n<ul style=\"text-align: left;\">\r\n	<li><strong><span style=\"color: #0000ff;\"><em>Central Bank divergences.</em></span></strong></li>\r\n	<li><strong><span style=\"color: #0000ff;\"><em>S&amp;P approaching the 261.8% fib extension (pullback imminent in my opinion).</em></span></strong></li>\r\n	<li><strong><span style=\"color: #0000ff;\"><em>JPY divergence.</em></span></strong></li>\r\n	<li><strong><span style=\"color: #0000ff;\"><em>GOLD struggling to keep above the $1,200.00 level.</em></span></strong></li>\r\n	<li><strong><span style=\"color: #0000ff;\"><em>OIL, although extremely choppy I do think is moving lower. Maybe not to $20 Citi forecast but at least a re-test of the recent lows and maybe a dip into the $30’s.</em></span></strong></li>\r\n</ul>\r\n<p style=\"text-align: left;\"><strong><span style=\"color: #0000ff;\"><em>Finally, the DXY has broken higher above a 29-year trend line and has extremely bullish looking chart formations. The Central Bank divergences between the FED and ECB are enough to keep me bullish the USD.</em></span></strong></p>\r\nWith all this said what are the trades that I am looking at?\r\n\r\nFirstly, if I truly believe that we are looking at DXY 100.00, and I think that this is a real possibility, so where does this move leave the USD majors?\r\n\r\nIn the past three years of writing THE WEEKLY FX DRIVE THRU I have talked a lot about inter-currency and inter-market correlations and divergences. These really do matter and are an important part of trading.\r\n\r\nPersonally the DXY move from the lows of around 70.00 to the present day of 95.00 has been orderly in my opinion and not explosive. (A good example of an explosive move would be parts of the BOJ/Abe/Kuroda QE move in the USD/JPY). To a large extent the easy move has been done. Markets see big round numbers as a tractor beam sucking them in towards it. I have no doubt that 100.00 has several algorithmic traders wetting their pants with excitement.\r\n\r\nWe may get an explosive move that is spurred on by the FED rate hike in June. I know, the markets are grabbing hard and hugging their security blankets really hard, but mother Janet may whip them away and push up rates only very modestly, but that would be enough in my opinion.\r\n\r\nThe point that I am going to make here is that with an explosive move I believe that all relationships / correlations whether via currency or markets will be 100% in sync.\r\n\r\nIf the Fed raises in the Autumn (Fall), we would see the continuation of the orderly move higher. This would allow for divergence to continue between currencies and markets. At the end of the day how we get there is irrelevant how we trade to get there is of greater importance.\r\n\r\nFirstly with a USD index to 100.00, you have to be bullish the USD.\r\n\r\nThe best trades are in my opinion based around Central Bank divergence. The most obvious being: -\r\n<p style=\"text-align: center;\"><strong>ECB versus FED – EUR/USD short</strong></p>\r\n<p style=\"text-align: center;\"><strong>RBA versus FED – AUD/USD short</strong></p>\r\n<p style=\"text-align: center;\"><strong>FED versus SNB – USD/CHF long</strong></p>\r\n<p style=\"text-align: center;\"><strong>BOE versus RBA – GBP/AUD long</strong></p>\r\nWhy complicate matters too much:\r\n\r\nBOJ - There are heavy rumours that the BOJ QE program is ending.\r\nRBNZ – They claim neutrality… hmmmn let’s run with that one!!\r\nBOC – Poloz says recent rate hike is a one off… yeah right!!\r\n\r\nThere are 4 pairs above that represent trading with FUNDAMENTALS based off the back of Central Bank policies. Are you a big enough trader to take on the $$$ held by a Central Bank - of course not.\r\n\r\nThe 4 trades above are as stated based around Central Bank divergence, I am ignoring all the other noises…. keeping it dead simple for positional traders. Remember pairs do not move in straight lines. Look at longer-term charts to give you the overview of the moves, try if you can to ignore the charts under at least 240 minutes (4 hours).\r\n\r\nWhat are the entry levels, targets and stop loss levels?\r\n\r\nTo get these you need to be a subscriber to the PREMIUM SERVICE (see section 3 of this blog for details).\r\n\r\nToday, the PREMIUM SERVICE is LIVE in 3 of the 4 trading pairs highlighted above, but it is very much at the embryonic stages and it’s certainly not too late to establish a position. I am looking to re-enter the EUR/USD, after taking a small intra-day profit on Friday. For subscribers this trade and others are highlighted in section 4.4. of this blog.\r\n\r\nThe one thing about the Forex market is that there are always opportunities. You need to be patient at all times. As a predominantly position style FUNDAMENTAL TRADER I can spend a week or two with trades losing money waiting for my move to establish. Currencies never move in a straight line. Even though I have outlined trades based upon USD strength there will be days when you trade on USD weakness within a USD strength longer-term move. This is what, in my opinion, make Forex trading so interesting.\r\n\r\n&nbsp;\r\n<ol start=\"3\">\r\n	<li><strong></strong><strong><span style=\"text-decoration: underline;\"> THE PREMIUM SERVICE:</span></strong>&nbsp;</li>\r\n</ol>\r\n<strong><span style=\"text-decoration: underline;\">SUMMARY OF PERFORMANCE:</span></strong>\r\n\r\n<span style=\"text-decoration: underline;\">3.1 OVERVIEW:</span>\r\n\r\nFor new readers who may not be aware, I refer to the PREMIUM SERVICE quite a lot in this blog and for more details about what it is, and, how much it costs, you will need to go the welcome page of <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a> At the top of the page there are three drop down menus: PREMIUM SERVICE, PROMOTIONS (if available), SIGN-UP and DISCLAIMER. Further details and how to join are all contained there. You will need at PayPal account to subscribe.\r\n\r\n<span style=\"text-decoration: underline;\">3.2 PREMIUM SERVICE – SUBSCRIPTION COSTS:</span>\r\n\r\nFull details regarding the PREMIUM SERVICE can be found on my website <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a>\r\n\r\nOn the welcome page there are a series of TABS at the top of the page that provide a summary of what the PREMIUM SERVICE is about and what you receive for your subscription.\r\n\r\nTHE 2015 SUBSCRIPTION BREAKDOWN IS AS FOLLOWS: -\r\n\r\n10 weeks - $200.00\r\n20 weeks - $350.00\r\n40 weeks - $500.00\r\n\r\n<span style=\"text-decoration: underline;\">3.3.1. TRADING REVIEW OF ACTIVITY and SUMMARY OF PERFORMANCE:</span>\r\n\r\nI have been struggling with trades quite a lot this year in comparison to last year. I am not quite sure what to attribute this to; was it: -\r\n<ul>\r\n	<li>The SNB peg removal that hit me hard with my FXCM GBP/CHF trade.</li>\r\n	<li>The following week we had a day of three squeezes that rocked me as I was caught the wrong way.</li>\r\n	<li>The week after there was another monster squeeze, which again caught me the wrong way.</li>\r\n	<li>Then this week I was suckered like a “lamb to the slaughter“ on Yellen’s testimony. I read something as USD bullish it was in fact bearish.</li>\r\n</ul>\r\nI am not absolutely certain what it is. The PREMIUM SERVICE single lot trading account is healthy. My main trading account is lower due to the GBP/CHF trade and a couple of trades with greater position sizes that were closed in the squeezes detailed above.\r\n\r\nThe strange thing with regards to my trading patterns this year is that I am not making money from RADAR TRADES. This could be my source of some of my uncertainty with trading at the moment. Last year RADAR TRADES provided over $34,670.00 (STANDARD LOTS) in income from 175 trades (Average income per trade $198.11). This year so far RADAR TRADES have contributed a loss of $2,490.00 (STANDARD LOTS) from 39 trades (Average Loss per trade $63.84). I am not hanging around too much in the losing trades if you look at the profit / loss it’s about a ratio of 3:1 with last years profits versus this years losses so my decision making on when to take a loss is about normal.\r\n\r\nI love a challenge, so I will be getting on top of this in the coming weeks.\r\n\r\nLast week, I only closed a total of 8 trades; I carried forward my commodity cross-rate pairs, my standard commodity currency pairs and my CHF trades from last week into this coming week. In total 12 trades were carried forward. The trades closed this week were a net loss and this has been reflected in the totals on the excel spreadsheets below in section 3.3.3.\r\n\r\nI am very comfortable with all trades even though the commodity crosses have not yet moved into profit. They are close to it given their volatile nature and the daily ATR (Average True Range). They normally play catch up after the majors have made their initial move. I had hoped that this would have occurred Thursday / Friday last week but alas not yet. I seem to write this a great deal at the moment being both positive and patient is really important.\r\n\r\nI head into this week carrying forward 12 LIVE trades from last week and, as requested by one of my subscribers I will recode the FLASH TRADES that were entered into on Yellen’s testimony that are commodity cross rate pairs to FUNDAMENTAL TRADES. This will be done via email and or twitter. It makes sense to do this for your journals, however for me I have all my commodity cross rate pair set-ups placed with a separate broker away from my main accounts so that I can manage the returns and performance with this type of trade instantaneously.\r\n\r\nYear to date the PREMIUM SERVICE trades, had you just traded single-lot trades would have given you profits from the 113 completed trades so far in 2015 as follows: -\r\n<p style=\"text-align: center;\"><strong>MICRO LOT TRADERS:                 $218.20</strong>\r\n<strong>MINI LOT TRADERS:                      $2,182.00</strong>\r\n<strong>STANDARD LOT TRADERS:         $21,820.00</strong></p>\r\nThe usual summary charts detailing the week and year to date performances, are below: -\r\n\r\n<span style=\"text-decoration: underline;\">3.3.2. – PREMIUM SERVICE PROFIT/LOSS RATIOS:\r\n</span>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/PROFIT-LOSS-RATIOS-01032015.png\"><img class=\"aligncenter size-full wp-image-5371\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/PROFIT-LOSS-RATIOS-01032015.png\" alt=\"PROFIT-LOSS RATIOS 01032015\" width=\"422\" height=\"601\" /></a>\r\n\r\n<span style=\"text-decoration: underline;\">3.3.3. – PREMIUM SERVICE RISK/REWARD ANALYSIS:</span>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/RISK-REWARD-01032015.png\"><img class=\"aligncenter size-full wp-image-5372\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/RISK-REWARD-01032015.png\" alt=\"RISK-REWARD 01032015\" width=\"432\" height=\"558\" /></a>\r\n\r\n<span style=\"text-decoration: underline;\">3.3.4. – PREMIUM SERVICE FLASH TRADES PERFORMANCE FEBRUARY:</span>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/FLASH1-01032015.png\"><img class=\"aligncenter size-full wp-image-5375\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/FLASH1-01032015.png\" alt=\"FLASH1 01032015\" width=\"495\" height=\"529\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/FLASH2-01032015.png\"><img class=\"aligncenter size-full wp-image-5376\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/FLASH2-01032015.png\" alt=\"FLASH2 01032015\" width=\"504\" height=\"528\" /></a>\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">3.3.5. – PREMIUM SERVICE FLASH TRADES PERFORMANCE YTD:</span>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/FLASH-YTD-FEB-2015.png\"><img class=\"aligncenter size-full wp-image-5377\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/FLASH-YTD-FEB-2015.png\" alt=\"FLASH YTD FEB 2015\" width=\"348\" height=\"380\" /></a>\r\n\r\n<span style=\"text-decoration: underline;\">3.3.6. – PREMIUM SERVICE RADAR TRADES PERFORMANCE FEBRUARY:</span>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/RADAR1-01032015.png\"><img class=\"aligncenter size-full wp-image-5378\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/RADAR1-01032015.png\" alt=\"RADAR1 01032015\" width=\"557\" height=\"483\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/RADAR2-01032015.png\"><img class=\"aligncenter size-full wp-image-5379\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/RADAR2-01032015.png\" alt=\"RADAR2 01032015\" width=\"557\" height=\"489\" /></a>\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">3.3.7. – PREMIUM SERVICE RADAR TRADES PERFORMANCE YTD:</span>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/RADAR-YTD-FEB2015.png\"><img class=\"aligncenter size-full wp-image-5380\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/RADAR-YTD-FEB2015.png\" alt=\"RADAR YTD FEB2015\" width=\"358\" height=\"367\" /></a>\r\n\r\n<span style=\"text-decoration: underline;\">3.3.8. – PREMIUM SERVICE FUNDAMENTAL TRADES PERFORMANCE FEBRUARY</span>:\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/FUNDAMENTAL-01032015.png\"><img class=\"aligncenter size-full wp-image-5381\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/FUNDAMENTAL-01032015.png\" alt=\"FUNDAMENTAL 01032015\" width=\"511\" height=\"521\" /></a>\r\n\r\n<span style=\"text-decoration: underline;\">3.3.9. – PREMIUM SERVICE FUNDAMENTAL TRADES PERFORMANCE YTD:</span>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/FUNDAMENTAL-YTD-FEB2015.png\"><img class=\"aligncenter size-full wp-image-5382\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/FUNDAMENTAL-YTD-FEB2015.png\" alt=\"FUNDAMENTAL YTD FEB2015\" width=\"353\" height=\"373\" /></a>\r\n\r\n<span style=\"text-decoration: underline;\">3.3.10. – PREMIUM SERVICE OVERALL TRADE SUMMARY MONTH &amp; YTD:</span>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/PREM-SERV-PROFITS1-01032015.png\"><img class=\"aligncenter size-full wp-image-5373\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/PREM-SERV-PROFITS1-01032015.png\" alt=\"PREM SERV PROFITS1 01032015\" width=\"459\" height=\"441\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/PREM-SERV-PROFITS2-01032015.png\"><img class=\"aligncenter size-full wp-image-5374\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/PREM-SERV-PROFITS2-01032015.png\" alt=\"PREM SERV PROFITS2 01032015\" width=\"473\" height=\"431\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n<ol start=\"4\">\r\n	<li><strong><span style=\"text-decoration: underline;\"> PREMIUM SERVICE SUBSCRIBER EXCLUSIVE CONTENT:</span></strong></li>\r\n</ol>\r\n(Section 4 is exclusive PREMIUM SERVICE content only available to PREMIUM SERVICE subscribers)\r\n\r\n<span style=\"text-decoration: underline;\">4.1 EDUCATION:\r\n</span>(The full list of all items and more from this section can be found in the PREMIUM SERVICE website in the Trade Essential area under the EDUCATION tab.)\r\n<h3 style=\"text-align: center;\"><strong>THE 5 MOST COMMON MISTAKES NEWBIE TRADERS MAKE</strong></h3>\r\nIt isn’t always easy being a newbie. Whether it’s in taking on a new job, starting your own business, or trying out a different sport, the degree of uncertainty in a new and unfamiliar undertaking can sometimes be overwhelming and push you to make mistakes. Trading is no different. Here are five of the most common mistakes that newbie traders can make:\r\n<ol>\r\n	<li><strong> TRADING WITHOUT A PLAN OR JOURNAL</strong></li>\r\n</ol>\r\nEven newbies fresh out of school and in their first week of trading know that the market is as unpredictable as the next “American Idol” or “The Voice” sensation. More often than not, in the attempt to make the most out of the opportunities the market presents, you get so lost in the emotions that you forget what you are supposed to do.\r\n\r\nWith your own money on the line, planning and researching trades and not being impulsive are they key goals. To help you achieve this key goal, which is to become a consistently profitable trader, you need a TRADING PLAN and maybe a TRADING JOURNAL.\r\n\r\nIt can be a simple outline of your entry and exit conditions and your RISK MANAGEMENT rules, and it needs to be written down so that you can refer to it, record and review your progress. I use my TRADING PLAN all the time to refer to my entry and exit strategies. Your TRADING PLAN helps to keep you focused.\r\n<ol start=\"2\">\r\n	<li><strong> NOT SETTING A STOP LOSS</strong></li>\r\n</ol>\r\nTrading without a STOP LOSS is like trying to train a Labrador puppy to walk beside you nicely without a lead (unless you are Caesar Milan). It is impossible and crazy.\r\n\r\nStop Losses are there to protect. They are not 100% guaranteed as the SNB day (when the EUR/CHF peg was removed) illustrated. They are the best insurance you have however, to stop your account being wiped out. Over the past three to four weeks in particular we have seen very volatile markets and short squeezes that could potentially wipe out accounts. Therefore setting a STOP LOSS allows you to survive and fight another day even if you have a losing trade.\r\n<ol start=\"3\">\r\n	<li><strong> REVENGE TRADING</strong></li>\r\n</ol>\r\nYou would not be a trader if you had not ventured into this area at one time or another. Pure and simple REVENGE TRADING is when you get emotional over a losing trade and then try over aggressively to recuperate the loss. I have revenge traded and like most traders my REVENGE TRADE was twice or three times the position of the original trade.\r\n\r\nIt is difficult but you just have to try to accept the loss and not let your judgement in the future be clouded by your ego. The text books will tell you that instead of REVENGE TRADING you should focus your efforts and energy on analyzing what went wrong and figuring out what you can do to improve your subsequent trades.\r\n<ol start=\"4\">\r\n	<li><strong> LETTING LOSING TRADES RUN</strong></li>\r\n</ol>\r\nThis is an interesting subject. The textbooks also say that newbie traders often let their losing trades run all the way to their stops instead of cutting losses early.\r\n\r\nAs a POSITION TRADER I am at odds with some of the textbooks. I fully understand that mentally if the trade is going the wrong way, maybe on the back of a significant news event, it may be the correct action to exit a trade early, I have no problem with this.\r\n\r\nHowever, 90% of the Trade setups that I get involved with are based off Fibonacci levels and I usually allow an excess of 10 or 15 pips either way for stops or limits. It has been proved and well known that currencies will run to specific prices, test these levels and then stop and reverse. Therefore sometimes if you believe that your stop is at a level where there is a lot of price interest I see absolutely no problem letting the trade run because history has taught me that sometimes taking a loss is wrong if there is a huge amount of interest at your Fibonacci level.\r\n\r\nWhen you enter a trade you assess risk. This risk is based on possibly several indicators and chart analysis techniques. You have to set realistic stop loss levels and sometimes the best policy is not to exit the trade but to wait and let it reverse. This route preserves capital in your broker account and CAPITAL PRESERVATION is key to Forex success.\r\n\r\nKnowing when to let a losing trade runs comes with experience. If you have entered the trade with a clear objective and assessed the risk you sometimes need to allow the trade to move around within the parameters you have set. Having said that a geopolitical event or poor headline economic data sometimes means that no matter what you have planned, it needs to be forgotten and the trade exited.\r\n<ol start=\"5\">\r\n	<li><strong> HAVING UNREALISTIC EXPECTATIONS</strong></li>\r\n</ol>\r\nHaving goals in all aspects of life help you stay motivated and disciplined, the same can be said of Forex trading.\r\n\r\nThe goals you set have to be realistic and achievable without adding too much stress.\r\n\r\nHand in Hand with setting your goals whether you prefer, daily, weekly or monthly you also need to have a clear understanding of the steps that you need to take to achieve these goals. This is what your TRADING PLAN is for. You detail objectives and the critical success factors that you need to achieve the goals set.\r\n\r\nIn the education area there are several articles relating to TRADING PLANS.\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">4.2 THE PREMIUM SERVICE - EXISTING LIVE TRADES:</span>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/PREM-SERV-LIVE-TRADES-01032015.png\"><img class=\"aligncenter size-full wp-image-5388\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/PREM-SERV-LIVE-TRADES-01032015.png\" alt=\"PREM SERV LIVE TRADES 01032015\" width=\"713\" height=\"396\" /></a>\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">4.3 THE PREMIUM SERVICE – EXISTING LIMIT ORDERS:</span>\r\n\r\nNone. No spread sheet this week.\r\n\r\n<span style=\"text-decoration: underline;\">PLEASE NOTE:</span>\r\n\r\nRemember position sizes for suggested FUNDAMENTAL TRADES should be much smaller than usual, maybe only 10%-15% of your normal trading position size. It is only when we add to our positions that the fun begins. All FUNDAMENTAL trades posted via email contain a second page with details of where I will add trades and when and where stops are moved, the Stair Stepping Stop Protection (SSSP) is self-explanatory and I hope useful. Using this grows your trading position and helps protect the profits made, should the trade gain traction.\r\n\r\nThis is why I have a separate broker for commodity cross-RATE PAIR trades. It keeps my categories separate and allows me to spread my cash RISK around a few different brokers.\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">4.4 POTENTIAL TRADES - WHAT CHARTS AM I LOOKING AT?</span>\r\n\r\nI have been asked to have more charts in the blog. In particular the ones that I am working on and looking at because they catch my eye that may become potential trades in the trading sessions ahead. All the charts contain my thoughts. I will tweet and email as soon as these possible trades become LIMIT ORDERS.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/EURUSD-MONTHLY-01032015.png\"><img class=\"aligncenter size-large wp-image-5391\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/EURUSD-MONTHLY-01032015-1024x517.png\" alt=\"EURUSD MONTHLY 01032015\" width=\"1024\" height=\"517\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/EURGBP-MONTHLY-01032015.png\"><img class=\"aligncenter size-large wp-image-5392\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/EURGBP-MONTHLY-01032015-1024x517.png\" alt=\"EURGBP MONTHLY 01032015\" width=\"1024\" height=\"517\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/GBPUSD-DAILY-01032015.png\"><img class=\"aligncenter size-large wp-image-5390\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/GBPUSD-DAILY-01032015-1024x517.png\" alt=\"GBPUSD DAILY 01032015\" width=\"1024\" height=\"517\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/USDJPY-240M-01032015.png\"><img class=\"aligncenter size-large wp-image-5389\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/USDJPY-240M-01032015-1024x517.png\" alt=\"USDJPY 240M 01032015\" width=\"1024\" height=\"517\" /></a>\r\n\r\n<span style=\"text-decoration: underline;\">4.5 MAJOR TRADING PAIRS WITH LONGER-TERM TRENDS MATCHING:</span>\r\n\r\nThe following currency pairs have Short Term (DAILY), Medium Term (WEEKLY) and Long Term (MONTHLY) charts all trending in the same direction.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/PS-TRENDING-PAIRS-01032015.png\"><img class=\"aligncenter size-full wp-image-5387\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/PS-TRENDING-PAIRS-01032015.png\" alt=\"PS TRENDING PAIRS 01032015\" width=\"402\" height=\"527\" /></a>\r\n\r\n<span style=\"text-decoration: underline;\">4.6 THE KEY SUPPORT &amp; RESISTANCE LEVELS WITH THE USD MAJORS</span><strong><span style=\"text-decoration: underline;\">:\r\n</span></strong>(This content is now for PREMIUM SERVICE subscribers only, it allows me to refer to existing and future set-ups that form part of the PREMIUM SERVICE subscription)\r\n\r\n<strong>EUR/USD: Closing Price 1.1194.</strong> We have seen the EUR/USD fall about 200 pips in the last seven days. The GREECE bailout extended, the can kicked down the road, we move on until June / July when the subject of GREECE will raise its head once again; it may even be earlier. For now however, GREECE is on the back burner. What is next for the EUR/USD? I think, definitely a test of 1.1100 as soon as we can break below 1.1180. Resistance will be great 1.1260 and I am hoping for a pullback as close to this to re-enter short once again.\r\n\r\n<strong>GBP/USD: Closing Price 1.5435</strong>. The GBP/USD is a difficult trade for me to analyze. The BOE is talking hawkish, yet the pull of the EUROZONE weighs heavy on cable at times. Part of me believes that if the EUR/USD nose dives, the GBP/USD will be seriously dragged with it. That would not unduly concern the UK government as it makes exported goods cheaper. Looking ahead into this week at least there is support around 1.5370 and resistance is good at 1.5480.\r\n\r\n<strong>AUD/USD: Closing Price 0.7810</strong>. I am still waiting for this pair to drop off the edge of the cliff. Since the RBA cut rates this pair has bounced!! Yup it sucks. FUNDAMENTALLY I am short and will remain short on the basis that the RBA is easing and FED is NOT. In line with the RBA my goal objective remains at least 0.7000. For this coming week I am looking at support being around 0.7750 and resistance at 0.7920.\r\n\r\n<strong>NZD/USD: Closing Price 0.7564</strong>. This pair is STILL very VERY annoying. We are still range bound between 0.7450 and 0.7620.\r\n\r\n<strong>USD/CAD: Closing Price 1.2497.</strong> The oil proxy rampage continues, I do think that this pair will come through and be a great long trade. Support is at 1.2350 and resistance at 1.2600.\r\n\r\n<strong>USD/CHF: Closing Price 0.9539</strong>. We closed at support, which is great. I see this pair leaping forward this week and I think that after 0.9850 a run to parity could be on. Support is 0.9340.\r\n\r\n<strong>USD/JPY: Closing Price 119.58. </strong> This pair is sometimes following the S&amp;P and sometimes following the Nikkei. It is probably more divergent than anything else. It is without doubt range bound, support is at 118.20 and resistance is at 120.50.\r\n\r\n&nbsp;\r\n<ol start=\"5\">\r\n	<li><strong><span style=\"text-decoration: underline;\"> THE WEEK AHEAD: -\r\nWHAT AM I THINKING &amp; WHAT AM I LOOKING AT?</span></strong></li>\r\n</ol>\r\n<span style=\"text-decoration: underline;\">5.1 MAJOR FOREX NEWS THIS WEEK THAT INTERESTS ME:</span>\r\nSUNDAY: CNY – HSBC Final Manufacturing PMi.\r\n\r\nMONDAY: GBP – Manufacturing PMi.\r\nMONDAY: USD – ISM Manufacturing PMi.\r\nMONDAY: AUD – Building Approvals &amp; RBA Rate Statement,\r\n\r\nTUESDAY: GBP – Construction PMi.\r\nTUESDAY: CAD – GDP.\r\nTUESDAY: NZD – GDT Price Index.\r\nTUESDAY: AUD – GDP.\r\n\r\nWEDNESDAY: GBP – Services PMi.\r\nWEDNESDAY: USD – ADP Non-Farm Employment Change.\r\nWEDNESDAY: CAD – BOC Rate Statement.\r\nWEDNESDAY: AUD – Retail Sales &amp; Trade Balance.\r\n\r\nTHURSDAY: GBP – Interest Rate.\r\nTHURSDAY: EUR – Interest Rate and Draghi Press Conference.\r\nTHURSDAY: CAD – IVEY PMi.\r\n\r\nFRIDAY: CAD – Building Permits &amp; Trade Balance.\r\nFRIDAY: USD – Non-Farm Employment Change and Trade Balance.\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">5.2 FINAL THOUGHTS / CLOSING COMMENTS:</span>\r\n\r\nIt is a whopper of a week this week for news. There is a great deal of market moving news items, we should be ready for continued “chop”, but… this is the week we may break the ranges. Many of the currency pairs have been somewhat range bound recently, even though the limits of the ranges may have extended a little, we are still very much trading inside ranges. With all the front line news this week we have the chance to really break out with some big moves.\r\n\r\nThe pick of the news has to be: -\r\n<p style=\"text-align: center;\">RBA - Rate Statement\r\nCAD - Rate Statement\r\nECB - Press Conference\r\nUSD - Non-Farm Payrolls</p>\r\nAs always, there will be trades to trade and there will be some great opportunities, please trade in line with your RISK MANAGEMENT parameters from your TRADING PLAN. If you do not have a TRADE PLAN, in my opinion, you should, as this will help you with consistency.\r\n<p style=\"text-align: center;\"><strong>Consistency = longevity in trading and that is a critical goal.\r\nIT IS THE KEY MEASUREMENT</strong></p>\r\nBefore you enter a trade work out the risk, price it in $$$. Place your stop accordingly. PREMIUM SERVICE subscribers have a full library of information on RISK MANAGEMENT, RISK TOLERANCES and POSITION SIZING etc. available for reference 24x7.\r\n\r\nTake care.\r\n\r\nScott Pickering\r\nThe Pip Accumulator\r\nSunday March 1st 2015\r\n\r\nEMAIL / FOLLOW ME AT:\r\npremiumservice@weeklyfxdrivethru.com\r\nTwitter: @pipaccumulator\r\nTwitter: @ThePremService\r\n<span style=\"line-height: 1.5;\">Google+/scottpickering\r\n</span>Tumblr: thepipaccumulator\r\n\r\n&nbsp;\r\n\r\n<strong><span style=\"text-decoration: underline;\">DISCLAIMER &amp; OTHER DATA:</span></strong>\r\n\r\n<span style=\"text-decoration: underline;\">SUBSCRIBING TO THE “FREE VERSION” OF THE WEEKLY FX DRIVE THRU:</span>\r\n\r\nIf you like what you have almost completed reading and want to have THE WEEKLY FX DRIVE THRU delivered direct to your email inbox next week, here is what you do: -\r\n\r\nGo to my website: - <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a>\r\n\r\nOn the right hand side of the welcome page under my bio “about me” there is a blue box titled SUBSCRIBE TO FREE NEWSLETTER, click on profile and add your email address. It is as simple and straightforward as that.\r\n\r\nI do NOT sell your email data to anyone…do not worry...one less thing to worry about!\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">THIRD PARTY COMPANIES WITH BANNERS ON MY WEBSITE:</span>\r\n\r\nThere are a small number of companies with banners on my website. In the interests of full disclosure I have a reciprocal business arrangement with these companies to promote their products.\r\n\r\nUnlike many of my competitors, I use the products and services provided by these companies. I will NOT allow any third party on my website unless I am 100% happy that they can back up their promise.\r\n\r\nBy virtue of the fact, I work with these companies almost daily. I am more than confident to have them advertise on my website.\r\n\r\nAny reader who buys products or services from any advertiser via a banner on my website, <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a> will automatically have my help and assistance with any issues that they may have with my partnered advertisers.\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">TRADING &amp; PERFORMANCES DISCLAIMER:</span>\r\n\r\nFLASH, RADAR and FUNDAMENTAL trade set-ups, “Tweets” and “Trade ideas” that are posted in my blogs or on Twitter are trades and set-ups that interest me. They are provided for training and informational purposes only and should not be interpreted as an offer, solicitation or recommendation of any specific security or investment strategy. Past performance is not indicative of future results. Trading Forex carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to trade any such leveraged products you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with trading on margin, and seek advice from an independent financial adviser if you have any doubts.','DON’T BE CRAZY AND IGNORE USD STRENGTH… THE USD RALLY GOES ON','','inherit','open','closed','','5394-revision-v1','','','2015-02-28 13:13:39','2015-02-28 18:13:39','',5394,'https://weeklyfxdrivethru.com/5394-revision-v1/',0,'revision','',0),(5397,1,'2015-02-28 14:07:51','2015-02-28 19:07:51','<h3 style=\"text-align: center;\"><strong>THE PREMIUM SERVICE\r\n</strong><strong>(The Home of Single-Lot $$$$ Trading)</strong></h3>\r\n<h4><strong>DATE: 01.03.2015\r\nREFERENCE: #141\r\n</strong><strong>BLOG: THE WEEKLY FX DRIVE THRU</strong></h4>\r\n<ol>\r\n	<li><strong><span style=\"text-decoration: underline;\"> INTRODUCTION / LOOKING BACK OVER THE PAST WEEK:</span></strong></li>\r\n</ol>\r\nThe Greek Tragedy played out early in the week with the EUROGROUP doing what they had to do by accepting the Greek governments proposals for an extension of 4 months to the existing credit line. Make no mistake, like a lot of people, I am fully expecting the GREEK BAILOUT ACT III to start around June this year.\r\n\r\nI was suckered on Tuesday with Janet Yellens’s testimony and entered en mass nearly all my favourite commodity cross-rates long… and… I am still in them. For the past 48 hours they have in fact just moved sideways, there has not been too much movement. I have all my commodity cross-rate trades in a separate account so that they do not distract me from any other trades on my main screen. So all I do is look at them once or twice a day and look at the net $$$ position. It has not really changed much since Wednesday’s close of business.\r\n\r\nThe other big news of the week was the U.S.$ index (DXY) breaking out on Thursday on the back of good CPi data.\r\n\r\nThese markets take no prisoners at all. In the early European session the DXY hit trend line support, I have no doubt that traders were lining up to be dollar bears as it approached support. After the data release it leaped up and didn’t just hit trend line resistance it broke through. I can imagine the $ bears were left swearing and cursing at their terminals. On Thursday we closed above the breakout level and held.\r\n\r\nThen on Friday, we had great GDP data which consolidated the move higher from which we broke lower on really poor housing and Chicago PMi numbers, only to bounce of the trend line and move higher. If the DXY is rallying on poor data this is something to hold on to and remember. This in itself for some traders is enough to keep them a USD bull.\r\n\r\nThe weekly DXY close is shown on the chart below.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/USD-DXY-SECTION-1-in-BLOG-01032015.png\"><img class=\"aligncenter size-large wp-image-5383\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/USD-DXY-SECTION-1-in-BLOG-01032015-1024x442.png\" alt=\"USD DXY SECTION 1 in BLOG 01032015\" width=\"1024\" height=\"442\" /></a>\r\n\r\n&nbsp;\r\n\r\nI am a USD bull, for reasons such as: -\r\n<ul>\r\n	<li>Central Bank divergences.</li>\r\n	<li>S&amp;P approaching the 261.8% fib extension (pullback imminent in my opinion).</li>\r\n	<li>JPY divergence.</li>\r\n	<li>GOLD struggling to keep above the $1,200.00 level.</li>\r\n	<li>OIL, although extremely choppy I do think is moving lower. Maybe not to $20 Citi forecast but at least a re-test of the recent lows and maybe a dip into the $30’s.</li>\r\n	<li>Finally, the DXY has broken higher above a 29-year trend line and has extremely bullish looking chart formations. The Central Bank divergences between the FED and ECB are enough to keep me bullish the USD.</li>\r\n</ul>\r\nThe markets are very range bound and will continue, in my opinion, to consolidate for a little while longer. The USD breakout is hard for market makers to understand. For basically a lifetime, they have been trading with a depressed weak currency and, more recently a safety blanket provided by the FED of keeping the markets heavily liquidated (QE) with low interest rates forcing investors to buy risk assets such as stocks to obtain a return. Both have now gone. We are in a transitory (love that word… if it’s good enough for Yellen and Draghi it’s good enough for me!) period.\r\n\r\nThis period of transition from QE (Quantitative Easing) to raising interest rates seems at times, when listening to analysts and guests on CNBC and Bloomberg, to be a period of dis-belief, it is weird. The FED will raise rates. This is a fact. The stock markets are supposed to be future pricing mechanisms, they know that it’s (rate rises) coming they just don\'t want to believe it as it will be the end of an era. So, the equity markets are really squeezing every last drop of juice out of the lemon before the inevitable hits.\r\n\r\nI haven’t mentioned GREECE yet. No doubt next week they will announce that after receiving the bailout/loan extension they will want to fully negotiate their bailout deal as part of their election-winning mandate for the Greek people. As I wrote last week, the EUROGROUP v GREECE … IT’S NOT OVER YET. In my opinion this has NOT EVEN STARTED!! Happy fun days are ahead.\r\n\r\nLike I said last week, I believe that we are going to have a period with a trending market for a little while as all the correlations should hopefully fall into place and line up correctly as equities fall back, which I believe they will do very soon.\r\n\r\nAs always, patience is the key.\r\n\r\n&nbsp;\r\n<ol start=\"2\">\r\n	<li><strong><span style=\"text-decoration: underline;\"> WHAT’S ON MY MIND: -\r\nTHE FUNDAMENTAL TRADERS OVERVIEW:</span></strong></li>\r\n</ol>\r\n<p style=\"text-align: center;\"><strong>DON’T BE CRAZY AND IGNORE USD STRENGTH…\r\n</strong><strong>THE USD RALLY GOES ON</strong></p>\r\nI referenced a few comments earlier with regards to the USD. I now want to expand my earlier comments with a few more thoughts.\r\n\r\nThere is something really building with the USD index (DXY). I have below 3 charts of the USD index (DXY). As usual I have kept the charts as clear and as simple as possible to follow.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/DXY-2.1-01032015.png\"><img class=\"aligncenter size-large wp-image-5384\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/DXY-2.1-01032015-1024x454.png\" alt=\"DXY 2.1 01032015\" width=\"1024\" height=\"454\" /></a>\r\n\r\n&nbsp;\r\n\r\nThe monthly chart above is very straightforward. It just shows the 29-year trend line that was broken in July 2014. Ever since that date the USD has been on the tear. One could argue that the sleeping giant has now awoken.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/DXY-2.2-01032015.png\"><img class=\"aligncenter size-large wp-image-5385\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/DXY-2.2-01032015-1024x441.png\" alt=\"DXY 2.2 01032015\" width=\"1024\" height=\"441\" /></a>\r\n\r\n&nbsp;\r\n\r\nThe purpose of this monthly chart is just to show that since the last high in 2002 to the lows in 2008 using a Fibonacci retracement we have just passed the 50% retracement level of that move at 94.60. The DXY closed last week just above a nice round number of 95.00 at 95.26 and the 61.8% retracement above 100.00 at 100.31 looms.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/DXY-2.3-01032015.png\"><img class=\"aligncenter size-large wp-image-5386\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/DXY-2.3-01032015-1024x447.png\" alt=\"DXY 2.3 01032015\" width=\"1024\" height=\"447\" /></a>\r\n\r\n&nbsp;\r\n\r\nThe purpose of this chart is just to drill down a little closer using a daily chart. It is very clear to see what an orderly move has taken place. It powers but it’s not explosive. Every substantial move higher has a period of consolidation in what is a bullish flag formation. I have drawn three bull flags on the move since July last year.\r\n\r\nThere is nothing FUNDAMENTAL in my mind that would stop this move continuing unless Janet Yellen at the FED decided to change U.S. Monetary Policy all of a sudden. The chances of that coming out of the “crash” are remote and in itself would probably send the U.S. economy into recession.\r\n\r\nWhat does it all mean for Forex traders?\r\n\r\nFor months as a FUNDAMENTAL trader 80% of my trades within the PREMIUM SERVICE have all been slanted towards USD strength using Central Bank divergences to further support my trade set-ups.\r\n\r\nI wrote the section below earlier in the blog…\r\n\r\n<strong><span style=\"color: #0000ff;\"><em>I am a USD bull, for reasons such as: -</em></span></strong>\r\n<ul>\r\n	<li><strong><span style=\"color: #0000ff;\"><em>Central Bank divergences.</em></span></strong></li>\r\n	<li><strong><span style=\"color: #0000ff;\"><em>S&amp;P approaching the 261.8% fib extension (pullback imminent in my opinion).</em></span></strong></li>\r\n	<li><strong><span style=\"color: #0000ff;\"><em>JPY divergence.</em></span></strong></li>\r\n	<li><strong><span style=\"color: #0000ff;\"><em>GOLD struggling to keep above the $1,200.00 level.</em></span></strong></li>\r\n	<li><strong><span style=\"color: #0000ff;\"><em>OIL, although extremely choppy I do think is moving lower. Maybe not to $20 Citi forecast but at least a re-test of the recent lows and maybe a dip into the $30’s.</em></span></strong></li>\r\n</ul>\r\n<strong><span style=\"color: #0000ff;\"><em>Finally, the DXY has broken higher above a 29-year trend line and has extremely bullish looking chart formations. The Central Bank divergences between the FED and ECB are enough to keep me bullish the USD.</em></span></strong>\r\n\r\nWith all this said what are the trades that I am looking at?\r\n\r\nFirstly, if I truly believe that we are looking at DXY 100.00, and I think that this is a real possibility, so where does this move leave the USD majors?\r\n\r\nIn the past three years of writing THE WEEKLY FX DRIVE THRU I have talked a lot about inter-currency and inter-market correlations and divergences. These really do matter and are an important part of trading.\r\n\r\nPersonally the DXY move from the lows of around 70.00 to the present day of 95.00 has been orderly in my opinion and not explosive. (A good example of an explosive move would be parts of the BOJ/Abe/Kuroda QE move in the USD/JPY). To a large extent the easy move has been done. Markets see big round numbers as a tractor beam sucking them in towards it. I have no doubt that 100.00 has several algorithmic traders wetting their pants with excitement.\r\n\r\nWe may get an explosive move that is spurred on by the FED rate hike in June. I know, the markets are grabbing hard and hugging their security blankets really hard, but mother Janet may whip them away and push up rates only very modestly, but that would be enough in my opinion.\r\n\r\nThe point that I am going to make here is that with an explosive move I believe that all relationships / correlations whether via currency or markets will be 100% in sync.\r\n\r\nIf the Fed raises in the Autumn (Fall), we would see the continuation of the orderly move higher. This would allow for divergence to continue between currencies and markets. At the end of the day how we get there is irrelevant how we trade to get there is of greater importance.\r\n\r\nFirstly with a USD index to 100.00, you have to be bullish the USD.\r\n\r\nThe best trades are in my opinion based around Central Bank divergence. The most obvious being: -\r\n<p style=\"text-align: center;\"><strong>ECB versus FED – EUR/USD short</strong>\r\n<strong>RBA versus FED – AUD/USD short</strong>\r\n<strong>FED versus SNB – USD/CHF long</strong>\r\n<strong>BOE versus RBA – GBP/AUD long</strong></p>\r\nWhy complicate matters too much:\r\n\r\nBOJ - There are heavy rumours that the BOJ QE program is ending.\r\nRBNZ – They claim neutrality… hmmmn let’s run with that one!!\r\nBOC – Poloz says recent rate hike is a one off… yeah right!!\r\n\r\nThere are 4 pairs above that represent trading with FUNDAMENTALS based off the back of Central Bank policies. Are you a big enough trader to take on the $$$ held by a Central Bank - of course not.\r\n\r\nThe 4 trades above are as stated based around Central Bank divergence, I am ignoring all the other noises…. keeping it dead simple for positional traders. Remember pairs do not move in straight lines. Look at longer-term charts to give you the overview of the moves, try if you can to ignore the charts under at least 240 minutes (4 hours).\r\n\r\nWhat are the entry levels, targets and stop loss levels?\r\n\r\nTo get these you need to be a subscriber to the PREMIUM SERVICE (see section 3 of this blog for details).\r\n\r\nToday, the PREMIUM SERVICE is LIVE in 3 of the 4 trading pairs highlighted above, but it is very much at the embryonic stages and it’s certainly not too late to establish a position. I am looking to re-enter the EUR/USD, after taking a small intra-day profit on Friday. For subscribers this trade and others are highlighted in section 4.4. of this blog.\r\n\r\nThe one thing about the Forex market is that there are always opportunities. You need to be patient at all times. As a predominantly position style FUNDAMENTAL TRADER I can spend a week or two with trades losing money waiting for my move to establish. Currencies never move in a straight line. Even though I have outlined trades based upon USD strength there will be days when you trade on USD weakness within a USD strength longer-term move. This is what, in my opinion, make Forex trading so interesting.\r\n\r\n&nbsp;\r\n<ol start=\"3\">\r\n	<li><strong><span style=\"text-decoration: underline;\"> THE PREMIUM SERVICE:</span></strong><strong><span style=\"text-decoration: underline;\">SUMMARY OF PERFORMANCE:</span></strong></li>\r\n</ol>\r\n<span style=\"text-decoration: underline;\">3.1 OVERVIEW:</span>\r\n\r\nFor new readers who may not be aware, I refer to the PREMIUM SERVICE quite a lot in this blog and for more details about what it is, and, how much it costs, you will need to go the welcome page of <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a> At the top of the page there are three drop down menus: PREMIUM SERVICE, PROMOTIONS (if available), SIGN-UP and DISCLAIMER. Further details and how to join are all contained there. You will need at PayPal account to subscribe.\r\n\r\n<span style=\"text-decoration: underline;\">3.2 PREMIUM SERVICE – SUBSCRIPTION COSTS:</span>\r\n\r\nFull details regarding the PREMIUM SERVICE can be found on my website <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a>\r\n\r\nOn the welcome page there are a series of TABS at the top of the page that provide a summary of what the PREMIUM SERVICE is about and what you receive for your subscription.\r\n\r\nTHE 2015 SUBSCRIPTION BREAKDOWN IS AS FOLLOWS: -\r\n\r\n10 weeks - $200.00\r\n20 weeks - $350.00\r\n40 weeks - $500.00\r\n\r\n<span style=\"text-decoration: underline;\">3.3.1. TRADING REVIEW OF ACTIVITY and SUMMARY OF PERFORMANCE:</span>\r\n\r\nI have been struggling with trades quite a lot this year in comparison to last year. I am not quite sure what to attribute this to; was it: -\r\n<ul>\r\n	<li>The SNB peg removal that hit me hard with my FXCM GBP/CHF trade.</li>\r\n	<li>The following week we had a day of three squeezes that rocked me as I was caught the wrong way.</li>\r\n	<li>The week after there was another monster squeeze, which again caught me the wrong way.</li>\r\n	<li>Then this week I was suckered like a “lamb to the slaughter“ on Yellen’s testimony. I read something as USD bullish it was in fact bearish.</li>\r\n</ul>\r\nI am not absolutely certain what it is. The PREMIUM SERVICE single lot trading account is healthy. My main trading account is lower due to the GBP/CHF trade and a couple of trades with greater position sizes that were closed in the squeezes detailed above.\r\n\r\nThe strange thing with regards to my trading patterns this year is that I am not making money from RADAR TRADES. This could be my source of some of my uncertainty with trading at the moment. Last year RADAR TRADES provided over $34,670.00 (STANDARD LOTS) in income from 175 trades (Average income per trade $198.11). This year so far RADAR TRADES have contributed a loss of $2,490.00 (STANDARD LOTS) from 39 trades (Average Loss per trade $63.84). I am not hanging around too much in the losing trades if you look at the profit / loss it’s about a ratio of 3:1 with last years profits versus this years losses so my decision making on when to take a loss is about normal.\r\n\r\nI love a challenge, so I will be getting on top of this in the coming weeks.\r\n\r\nLast week, I only closed a total of 8 trades; I carried forward my commodity cross-rate pairs, my standard commodity currency pairs and my CHF trades from last week into this coming week. In total 12 trades were carried forward. The trades closed this week were a net loss and this has been reflected in the totals on the excel spreadsheets below in section 3.3.3.\r\n\r\nI am very comfortable with all trades even though the commodity crosses have not yet moved into profit. They are close to it given their volatile nature and the daily ATR (Average True Range). They normally play catch up after the majors have made their initial move. I had hoped that this would have occurred Thursday / Friday last week but alas not yet. I seem to write this a great deal at the moment being both positive and patient is really important.\r\n\r\nI head into this week carrying forward 12 LIVE trades from last week and, as requested by one of my subscribers I will recode the FLASH TRADES that were entered into on Yellen’s testimony that are commodity cross rate pairs to FUNDAMENTAL TRADES. This will be done via email and or twitter. It makes sense to do this for your journals, however for me I have all my commodity cross rate pair set-ups placed with a separate broker away from my main accounts so that I can manage the returns and performance with this type of trade instantaneously.\r\n\r\nYear to date the PREMIUM SERVICE trades, had you just traded single-lot trades would have given you profits from the 113 completed trades so far in 2015 as follows: -\r\n<p style=\"text-align: center;\"><strong>MICRO LOT TRADERS:                 $218.20</strong>\r\n<strong> MINI LOT TRADERS:                      $2,182.00</strong>\r\n<strong> STANDARD LOT TRADERS:         $21,820.00</strong></p>\r\nThe usual summary charts detailing the week and year to date performances, are below: -\r\n\r\n<span style=\"text-decoration: underline;\">3.3.2. – PREMIUM SERVICE PROFIT/LOSS RATIOS:</span>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/PROFIT-LOSS-RATIOS-01032015.png\"><img class=\"aligncenter size-full wp-image-5371\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/PROFIT-LOSS-RATIOS-01032015.png\" alt=\"PROFIT-LOSS RATIOS 01032015\" width=\"422\" height=\"601\" /></a>\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">3.3.3. – PREMIUM SERVICE RISK/REWARD ANALYSIS:</span>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/RISK-REWARD-01032015.png\"><img class=\"aligncenter size-full wp-image-5372\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/RISK-REWARD-01032015.png\" alt=\"RISK-REWARD 01032015\" width=\"432\" height=\"558\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">3.3.4. – PREMIUM SERVICE FLASH TRADES PERFORMANCE FEBRUARY:</span>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/FLASH1-01032015.png\"><img class=\"aligncenter size-full wp-image-5375\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/FLASH1-01032015.png\" alt=\"FLASH1 01032015\" width=\"495\" height=\"529\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/FLASH2-01032015.png\"><img class=\"aligncenter size-full wp-image-5376\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/FLASH2-01032015.png\" alt=\"FLASH2 01032015\" width=\"504\" height=\"528\" /></a>\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">3.3.5. – PREMIUM SERVICE FLASH TRADES PERFORMANCE YTD:</span>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/FLASH-YTD-FEB-2015.png\"><img class=\"aligncenter size-full wp-image-5377\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/FLASH-YTD-FEB-2015.png\" alt=\"FLASH YTD FEB 2015\" width=\"348\" height=\"380\" /></a>\r\n\r\n<span style=\"text-decoration: underline;\">3.3.6. – PREMIUM SERVICE RADAR TRADES PERFORMANCE FEBRUARY:</span>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/RADAR1-01032015.png\"><img class=\"aligncenter size-full wp-image-5378\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/RADAR1-01032015.png\" alt=\"RADAR1 01032015\" width=\"557\" height=\"483\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/RADAR2-01032015.png\"><img class=\"aligncenter size-full wp-image-5379\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/RADAR2-01032015.png\" alt=\"RADAR2 01032015\" width=\"557\" height=\"489\" /></a>\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">3.3.7. – PREMIUM SERVICE RADAR TRADES PERFORMANCE YTD:</span>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/RADAR-YTD-FEB2015.png\"><img class=\"aligncenter size-full wp-image-5380\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/RADAR-YTD-FEB2015.png\" alt=\"RADAR YTD FEB2015\" width=\"358\" height=\"367\" /></a>\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">3.3.8. – PREMIUM SERVICE FUNDAMENTAL TRADES PERFORMANCE FEBRUARY</span>:\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/FUNDAMENTAL-01032015.png\"><img class=\"aligncenter size-full wp-image-5381\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/FUNDAMENTAL-01032015.png\" alt=\"FUNDAMENTAL 01032015\" width=\"511\" height=\"521\" /></a>\r\n\r\n<span style=\"text-decoration: underline;\">3.3.9. – PREMIUM SERVICE FUNDAMENTAL TRADES PERFORMANCE YTD:</span>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/FUNDAMENTAL-YTD-FEB2015.png\"><img class=\"aligncenter size-full wp-image-5382\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/FUNDAMENTAL-YTD-FEB2015.png\" alt=\"FUNDAMENTAL YTD FEB2015\" width=\"353\" height=\"373\" /></a>\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">3.3.10. – PREMIUM SERVICE OVERALL TRADE SUMMARY MONTH &amp; YTD:</span>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/PREM-SERV-PROFITS1-01032015.png\"><img class=\"aligncenter size-full wp-image-5373\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/PREM-SERV-PROFITS1-01032015.png\" alt=\"PREM SERV PROFITS1 01032015\" width=\"459\" height=\"441\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/PREM-SERV-PROFITS2-01032015.png\"><img class=\"aligncenter size-full wp-image-5374\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/PREM-SERV-PROFITS2-01032015.png\" alt=\"PREM SERV PROFITS2 01032015\" width=\"473\" height=\"431\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n<ol start=\"4\">\r\n	<li><strong><span style=\"text-decoration: underline;\"> PREMIUM SERVICE SUBSCRIBER EXCLUSIVE CONTENT:</span></strong></li>\r\n</ol>\r\n(Section 4 is exclusive PREMIUM SERVICE content only available to PREMIUM SERVICE subscribers)\r\n\r\n<span style=\"text-decoration: underline;\">4.1 EDUCATION:\r\n</span>(The full list of all items and more from this section can be found in the PREMIUM SERVICE website in the Trade Essential area under the EDUCATION tab.)\r\n\r\n<span style=\"text-decoration: underline;\">4.2 THE PREMIUM SERVICE - EXISTING LIVE TRADES:</span>\r\n\r\n<span style=\"text-decoration: underline;\">4.3 THE PREMIUM SERVICE – EXISTING LIMIT ORDERS:</span>\r\n\r\n<span style=\"text-decoration: underline;\">4.4 POTENTIAL TRADES - WHAT CHARTS AM I LOOKING AT?</span>\r\n\r\n<span style=\"text-decoration: underline;\">4.5 MAJOR TRADING PAIRS WITH LONGER-TERM TRENDS MATCHING:</span>\r\n\r\n<span style=\"text-decoration: underline;\">4.6 THE KEY SUPPORT &amp; RESISTANCE LEVELS WITH THE USD MAJORS</span><strong><span style=\"text-decoration: underline;\">:\r\n</span></strong>(This content is now for PREMIUM SERVICE subscribers only, it allows me to refer to existing and future set-ups that form part of the PREMIUM SERVICE subscription)\r\n\r\n&nbsp;\r\n<ol start=\"5\">\r\n	<li><strong><span style=\"text-decoration: underline;\"> THE WEEK AHEAD: -\r\nWHAT AM I THINKING &amp; WHAT AM I LOOKING AT?</span></strong></li>\r\n</ol>\r\n<span style=\"text-decoration: underline;\">5.1 MAJOR FOREX NEWS THIS WEEK THAT INTERESTS ME:</span>\r\n\r\nSUNDAY: CNY – HSBC Final Manufacturing PMi.\r\n\r\nMONDAY: GBP – Manufacturing PMi.\r\nMONDAY: USD – ISM Manufacturing PMi.\r\nMONDAY: AUD – Building Approvals &amp; RBA Rate Statement,\r\n\r\nTUESDAY: GBP – Construction PMi.\r\nTUESDAY: CAD – GDP.\r\nTUESDAY: NZD – GDT Price Index.\r\nTUESDAY: AUD – GDP.\r\n\r\nWEDNESDAY: GBP – Services PMi.\r\nWEDNESDAY: USD – ADP Non-Farm Employment Change.\r\nWEDNESDAY: CAD – BOC Rate Statement.\r\nWEDNESDAY: AUD – Retail Sales &amp; Trade Balance.\r\n\r\nTHURSDAY: GBP – Interest Rate.\r\nTHURSDAY: EUR – Interest Rate and Draghi Press Conference.\r\nTHURSDAY: CAD – IVEY PMi.\r\n\r\nFRIDAY: CAD – Building Permits &amp; Trade Balance.\r\nFRIDAY: USD – Non-Farm Employment Change and Trade Balance.\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">5.2 FINAL THOUGHTS / CLOSING COMMENTS:</span>\r\n\r\nIt is a whopper of a week this week for news. There is a great deal of market moving news items, we should be ready for continued “chop”, but… this is the week we may break the ranges. Many of the currency pairs have been somewhat range bound recently, even though the limits of the ranges may have extended a little, we are still very much trading inside ranges. With all the front line news this week we have the chance to really break out with some big moves.\r\n\r\nThe pick of the news has to be: -\r\n\r\n<strong>RBA - Rate Statement</strong>\r\n<strong>CAD - Rate Statement</strong>\r\n<strong>ECB - Press Conference</strong>\r\n<strong>USD - Non-Farm Payrolls</strong>\r\n\r\nAs always, there will be trades to trade and there will be some great opportunities, please trade in line with your RISK MANAGEMENT parameters from your TRADING PLAN. If you do not have a TRADE PLAN, in my opinion, you should, as this will help you with consistency.\r\n<p style=\"text-align: center;\"><strong>Consistency = longevity in trading and that is a critical goal.\r\nIT IS THE KEY MEASUREMENT</strong></p>\r\nBefore you enter a trade work out the risk, price it in $$$. Place your stop accordingly. PREMIUM SERVICE subscribers have a full library of information on RISK MANAGEMENT, RISK TOLERANCES and POSITION SIZING etc. available for reference 24x7.\r\n\r\nTake care.\r\n\r\nScott Pickering\r\nThe Pip Accumulator\r\nSunday March 1st 2015\r\n\r\nEMAIL / FOLLOW ME AT:\r\ndrivethru@weeklyfxdrivethru.com\r\nTwitter: @pipaccumulator\r\n<span style=\"line-height: 1.5;\">Google+/scottpickering\r\n</span>Tumblr: thepipaccumulator\r\n\r\n<strong><span style=\"text-decoration: underline;\">DISCLAIMER &amp; OTHER DATA:</span></strong>\r\n\r\n<span style=\"text-decoration: underline;\">SUBSCRIBING TO THE “FREE VERSION” OF THE WEEKLY FX DRIVE THRU:</span>\r\n\r\nIf you like what you have almost completed reading and want to have THE WEEKLY FX DRIVE THRU delivered direct to your email inbox next week, here is what you do: -\r\n\r\nGo to my website: - <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a>\r\n\r\nOn the right hand side of the welcome page under my bio “about me” there is a blue box titled SUBSCRIBE TO FREE NEWSLETTER, click on profile and add your email address. It is as simple and straightforward as that.\r\n\r\nI do NOT sell your email data to anyone…do not worry...one less thing to worry about!\r\n\r\n<span style=\"text-decoration: underline;\">THIRD PARTY COMPANIES WITH BANNERS ON MY WEBSITE:</span>\r\n\r\nThere are a small number of companies with banners on my website. In the interests of full disclosure I have a reciprocal business arrangement with these companies to promote their products.\r\n\r\nUnlike many of my competitors, I use the products and services provided by these companies. I will NOT allow any third party on my website unless I am 100% happy that they can back up their promise.\r\n\r\nBy virtue of the fact, I work with these companies almost daily. I am more than confident to have them advertise on my website.\r\n\r\nAny reader who buys products or services from any advertiser via a banner on my website, <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a> will automatically have my help and assistance with any issues that they may have with my partnered advertisers.\r\n\r\n<span style=\"text-decoration: underline;\">TRADING &amp; PERFORMANCES DISCLAIMER:</span>\r\n\r\nFLASH, RADAR and FUNDAMENTAL trade set-ups, “Tweets” and “Trade ideas” that are posted in my blogs or on Twitter are trades and set-ups that interest me. They are provided for training and informational purposes only and should not be interpreted as an offer, solicitation or recommendation of any specific security or investment strategy. Past performance is not indicative of future results. Trading Forex carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to trade any such leveraged products you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with trading on margin, and seek advice from an independent financial adviser if you have any doubts.','DON’T BE CRAZY AND IGNORE USD STRENGTH… THE USD RALLY GOES ON','','publish','open','closed','','dont-be-crazy-and-ignore-usd-strength-the-usd-rally-goes-on','','','2015-03-01 08:26:54','2015-03-01 13:26:54','',0,'https://weeklyfxdrivethru.com/?p=5397',0,'post','',0);
INSERT INTO `vp_backup_wp_posts` VALUES (5398,1,'2015-02-28 14:04:27','2015-02-28 19:04:27','<h3 style=\"text-align: center;\"><strong>THE PREMIUM SERVICE\r\n</strong><strong>(The Home of Single-Lot $$$$ Trading)</strong></h3>\r\n<h4><strong>DATE: 01.03.2015\r\nREFERENCE: #141\r\n</strong><strong>BLOG: THE WEEKLY FX DRIVE THRU</strong></h4>\r\n<ol>\r\n	<li><strong><span style=\"text-decoration: underline;\"> INTRODUCTION / LOOKING BACK OVER THE PAST WEEK:</span></strong></li>\r\n</ol>\r\nThe Greek Tragedy played out early in the week with the EUROGROUP doing what they had to do by accepting the Greek governments proposals for an extension of 4 months to the existing credit line. Make no mistake, like a lot of people, I am fully expecting the GREEK BAILOUT ACT III to start around June this year.\r\n\r\nI was suckered on Tuesday with Janet Yellens’s testimony and entered en mass nearly all my favourite commodity cross-rates long… and… I am still in them. For the past 48 hours they have in fact just moved sideways, there has not been too much movement. I have all my commodity cross-rate trades in a separate account so that they do not distract me from any other trades on my main screen. So all I do is look at them once or twice a day and look at the net $$$ position. It has not really changed much since Wednesday’s close of business.\r\n\r\nThe other big news of the week was the U.S.$ index (DXY) breaking out on Thursday on the back of good CPi data.\r\n\r\nThese markets take no prisoners at all. In the early European session the DXY hit trend line support, I have no doubt that traders were lining up to be dollar bears as it approached support. After the data release it leaped up and didn’t just hit trend line resistance it broke through. I can imagine the $ bears were left swearing and cursing at their terminals. On Thursday we closed above the breakout level and held.\r\n\r\nThen on Friday, we had great GDP data which consolidated the move higher from which we broke lower on really poor housing and Chicago PMi numbers, only to bounce of the trend line and move higher. If the DXY is rallying on poor data this is something to hold on to and remember. This in itself for some traders is enough to keep them a USD bull.\r\n\r\nThe weekly DXY close is shown on the chart below.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/USD-DXY-SECTION-1-in-BLOG-01032015.png\"><img class=\"aligncenter size-large wp-image-5383\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/USD-DXY-SECTION-1-in-BLOG-01032015-1024x442.png\" alt=\"USD DXY SECTION 1 in BLOG 01032015\" width=\"1024\" height=\"442\" /></a>\r\n\r\n&nbsp;\r\n\r\nI am a USD bull, for reasons such as: -\r\n<ul>\r\n	<li>Central Bank divergences.</li>\r\n	<li>S&amp;P approaching the 261.8% fib extension (pullback imminent in my opinion).</li>\r\n	<li>JPY divergence.</li>\r\n	<li>GOLD struggling to keep above the $1,200.00 level.</li>\r\n	<li>OIL, although extremely choppy I do think is moving lower. Maybe not to $20 Citi forecast but at least a re-test of the recent lows and maybe a dip into the $30’s.</li>\r\n	<li>Finally, the DXY has broken higher above a 29-year trend line and has extremely bullish looking chart formations. The Central Bank divergences between the FED and ECB are enough to keep me bullish the USD.</li>\r\n</ul>\r\nThe markets are very range bound and will continue, in my opinion, to consolidate for a little while longer. The USD breakout is hard for market makers to understand. For basically a lifetime, they have been trading with a depressed weak currency and, more recently a safety blanket provided by the FED of keeping the markets heavily liquidated (QE) with low interest rates forcing investors to buy risk assets such as stocks to obtain a return. Both have now gone. We are in a transitory (love that word… if it’s good enough for Yellen and Draghi it’s good enough for me!) period.\r\n\r\nThis period of transition from QE (Quantitative Easing) to raising interest rates seems at times, when listening to analysts and guests on CNBC and Bloomberg, to be a period of dis-belief, it is weird. The FED will raise rates. This is a fact. The stock markets are supposed to be future pricing mechanisms, they know that it’s (rate rises) coming they just don\'t want to believe it as it will be the end of an era. So, the equity markets are really squeezing every last drop of juice out of the lemon before the inevitable hits.\r\n\r\nI haven’t mentioned GREECE yet. No doubt next week they will announce that after receiving the bailout/loan extension they will want to fully negotiate their bailout deal as part of their election-winning mandate for the Greek people. As I wrote last week, the EUROGROUP v GREECE … IT’S NOT OVER YET. In my opinion this has NOT EVEN STARTED!! Happy fun days are ahead.\r\n\r\nLike I said last week, I believe that we are going to have a period with a trending market for a little while as all the correlations should hopefully fall into place and line up correctly as equities fall back, which I believe they will do very soon.\r\n\r\nAs always, patience is the key.\r\n\r\n&nbsp;\r\n<ol start=\"2\">\r\n	<li><strong><span style=\"text-decoration: underline;\"> WHAT’S ON MY MIND: -\r\nTHE FUNDAMENTAL TRADERS OVERVIEW:</span></strong></li>\r\n</ol>\r\n<p style=\"text-align: center;\"><strong>DON’T BE CRAZY AND IGNORE USD STRENGTH…\r\n</strong><strong>THE USD RALLY GOES ON</strong></p>\r\nI referenced a few comments earlier with regards to the USD. I now want to expand my earlier comments with a few more thoughts.\r\n\r\nThere is something really building with the USD index (DXY). I have below 3 charts of the USD index (DXY). As usual I have kept the charts as clear and as simple as possible to follow.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/DXY-2.1-01032015.png\"><img class=\"aligncenter size-large wp-image-5384\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/DXY-2.1-01032015-1024x454.png\" alt=\"DXY 2.1 01032015\" width=\"1024\" height=\"454\" /></a>\r\n\r\n&nbsp;\r\n\r\nThe monthly chart above is very straightforward. It just shows the 29-year trend line that was broken in July 2014. Ever since that date the USD has been on the tear. One could argue that the sleeping giant has now awoken.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/DXY-2.2-01032015.png\"><img class=\"aligncenter size-large wp-image-5385\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/DXY-2.2-01032015-1024x441.png\" alt=\"DXY 2.2 01032015\" width=\"1024\" height=\"441\" /></a>\r\n\r\n&nbsp;\r\n\r\nThe purpose of this monthly chart is just to show that since the last high in 2002 to the lows in 2008 using a Fibonacci retracement we have just passed the 50% retracement level of that move at 94.60. The DXY closed last week just above a nice round number of 95.00 at 95.26 and the 61.8% retracement above 100.00 at 100.31 looms.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/DXY-2.3-01032015.png\"><img class=\"aligncenter size-large wp-image-5386\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/DXY-2.3-01032015-1024x447.png\" alt=\"DXY 2.3 01032015\" width=\"1024\" height=\"447\" /></a>\r\n\r\n&nbsp;\r\n\r\nThe purpose of this chart is just to drill down a little closer using a daily chart. It is very clear to see what an orderly move has taken place. It powers but it’s not explosive. Every substantial move higher has a period of consolidation in what is a bullish flag formation. I have drawn three bull flags on the move since July last year.\r\n\r\nThere is nothing FUNDAMENTAL in my mind that would stop this move continuing unless Janet Yellen at the FED decided to change U.S. Monetary Policy all of a sudden. The chances of that coming out of the “crash” are remote and in itself would probably send the U.S. economy into recession.\r\n\r\nWhat does it all mean for Forex traders?\r\n\r\nFor months as a FUNDAMENTAL trader 80% of my trades within the PREMIUM SERVICE have all been slanted towards USD strength using Central Bank divergences to further support my trade set-ups.\r\n\r\nI wrote the section below earlier in the blog…\r\n\r\n<strong><span style=\"color: #0000ff;\"><em>I am a USD bull, for reasons such as: -</em></span></strong>\r\n<ul>\r\n	<li><strong><span style=\"color: #0000ff;\"><em>Central Bank divergences.</em></span></strong></li>\r\n	<li><strong><span style=\"color: #0000ff;\"><em>S&amp;P approaching the 261.8% fib extension (pullback imminent in my opinion).</em></span></strong></li>\r\n	<li><strong><span style=\"color: #0000ff;\"><em>JPY divergence.</em></span></strong></li>\r\n	<li><strong><span style=\"color: #0000ff;\"><em>GOLD struggling to keep above the $1,200.00 level.</em></span></strong></li>\r\n	<li><strong><span style=\"color: #0000ff;\"><em>OIL, although extremely choppy I do think is moving lower. Maybe not to $20 Citi forecast but at least a re-test of the recent lows and maybe a dip into the $30’s.</em></span></strong></li>\r\n</ul>\r\n<strong><span style=\"color: #0000ff;\"><em>Finally, the DXY has broken higher above a 29-year trend line and has extremely bullish looking chart formations. The Central Bank divergences between the FED and ECB are enough to keep me bullish the USD.</em></span></strong>\r\n\r\nWith all this said what are the trades that I am looking at?\r\n\r\nFirstly, if I truly believe that we are looking at DXY 100.00, and I think that this is a real possibility, so where does this move leave the USD majors?\r\n\r\nIn the past three years of writing THE WEEKLY FX DRIVE THRU I have talked a lot about inter-currency and inter-market correlations and divergences. These really do matter and are an important part of trading.\r\n\r\nPersonally the DXY move from the lows of around 70.00 to the present day of 95.00 has been orderly in my opinion and not explosive. (A good example of an explosive move would be parts of the BOJ/Abe/Kuroda QE move in the USD/JPY). To a large extent the easy move has been done. Markets see big round numbers as a tractor beam sucking them in towards it. I have no doubt that 100.00 has several algorithmic traders wetting their pants with excitement.\r\n\r\nWe may get an explosive move that is spurred on by the FED rate hike in June. I know, the markets are grabbing hard and hugging their security blankets really hard, but mother Janet may whip them away and push up rates only very modestly, but that would be enough in my opinion.\r\n\r\nThe point that I am going to make here is that with an explosive move I believe that all relationships / correlations whether via currency or markets will be 100% in sync.\r\n\r\nIf the Fed raises in the Autumn (Fall), we would see the continuation of the orderly move higher. This would allow for divergence to continue between currencies and markets. At the end of the day how we get there is irrelevant how we trade to get there is of greater importance.\r\n\r\nFirstly with a USD index to 100.00, you have to be bullish the USD.\r\n\r\nThe best trades are in my opinion based around Central Bank divergence. The most obvious being: -\r\n<p style=\"text-align: center;\"><strong>ECB versus FED – EUR/USD short</strong>\r\n<strong>RBA versus FED – AUD/USD short</strong>\r\n<strong>FED versus SNB – USD/CHF long</strong>\r\n<strong>BOE versus RBA – GBP/AUD long</strong></p>\r\nWhy complicate matters too much:\r\n\r\nBOJ - There are heavy rumours that the BOJ QE program is ending.\r\nRBNZ – They claim neutrality… hmmmn let’s run with that one!!\r\nBOC – Poloz says recent rate hike is a one off… yeah right!!\r\n\r\nThere are 4 pairs above that represent trading with FUNDAMENTALS based off the back of Central Bank policies. Are you a big enough trader to take on the $$$ held by a Central Bank - of course not.\r\n\r\nThe 4 trades above are as stated based around Central Bank divergence, I am ignoring all the other noises…. keeping it dead simple for positional traders. Remember pairs do not move in straight lines. Look at longer-term charts to give you the overview of the moves, try if you can to ignore the charts under at least 240 minutes (4 hours).\r\n\r\nWhat are the entry levels, targets and stop loss levels?\r\n\r\nTo get these you need to be a subscriber to the PREMIUM SERVICE (see section 3 of this blog for details).\r\n\r\nToday, the PREMIUM SERVICE is LIVE in 3 of the 4 trading pairs highlighted above, but it is very much at the embryonic stages and it’s certainly not too late to establish a position. I am looking to re-enter the EUR/USD, after taking a small intra-day profit on Friday. For subscribers this trade and others are highlighted in section 4.4. of this blog.\r\n\r\nThe one thing about the Forex market is that there are always opportunities. You need to be patient at all times. As a predominantly position style FUNDAMENTAL TRADER I can spend a week or two with trades losing money waiting for my move to establish. Currencies never move in a straight line. Even though I have outlined trades based upon USD strength there will be days when you trade on USD weakness within a USD strength longer-term move. This is what, in my opinion, make Forex trading so interesting.\r\n\r\n&nbsp;\r\n<ol start=\"3\">\r\n	<li><strong><span style=\"text-decoration: underline;\"> THE PREMIUM SERVICE:\r\n\r\n<strong><span style=\"text-decoration: underline;\">SUMMARY OF PERFORMANCE:</span></strong></span></strong></li>\r\n</ol>\r\n<span style=\"text-decoration: underline;\">3.1 OVERVIEW:</span>\r\n\r\nFor new readers who may not be aware, I refer to the PREMIUM SERVICE quite a lot in this blog and for more details about what it is, and, how much it costs, you will need to go the welcome page of <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a> At the top of the page there are three drop down menus: PREMIUM SERVICE, PROMOTIONS (if available), SIGN-UP and DISCLAIMER. Further details and how to join are all contained there. You will need at PayPal account to subscribe.\r\n\r\n<span style=\"text-decoration: underline;\">3.2 PREMIUM SERVICE – SUBSCRIPTION COSTS:</span>\r\n\r\nFull details regarding the PREMIUM SERVICE can be found on my website <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a>\r\n\r\nOn the welcome page there are a series of TABS at the top of the page that provide a summary of what the PREMIUM SERVICE is about and what you receive for your subscription.\r\n\r\nTHE 2015 SUBSCRIPTION BREAKDOWN IS AS FOLLOWS: -\r\n\r\n10 weeks - $200.00\r\n20 weeks - $350.00\r\n40 weeks - $500.00\r\n\r\n<span style=\"text-decoration: underline;\">3.3.1. TRADING REVIEW OF ACTIVITY and SUMMARY OF PERFORMANCE:</span>\r\n\r\nI have been struggling with trades quite a lot this year in comparison to last year. I am not quite sure what to attribute this to; was it: -\r\n<ul>\r\n	<li>The SNB peg removal that hit me hard with my FXCM GBP/CHF trade.</li>\r\n	<li>The following week we had a day of three squeezes that rocked me as I was caught the wrong way.</li>\r\n	<li>The week after there was another monster squeeze, which again caught me the wrong way.</li>\r\n	<li>Then this week I was suckered like a “lamb to the slaughter“ on Yellen’s testimony. I read something as USD bullish it was in fact bearish.</li>\r\n</ul>\r\nI am not absolutely certain what it is. The PREMIUM SERVICE single lot trading account is healthy. My main trading account is lower due to the GBP/CHF trade and a couple of trades with greater position sizes that were closed in the squeezes detailed above.\r\n\r\nThe strange thing with regards to my trading patterns this year is that I am not making money from RADAR TRADES. This could be my source of some of my uncertainty with trading at the moment. Last year RADAR TRADES provided over $34,670.00 (STANDARD LOTS) in income from 175 trades (Average income per trade $198.11). This year so far RADAR TRADES have contributed a loss of $2,490.00 (STANDARD LOTS) from 39 trades (Average Loss per trade $63.84). I am not hanging around too much in the losing trades if you look at the profit / loss it’s about a ratio of 3:1 with last years profits versus this years losses so my decision making on when to take a loss is about normal.\r\n\r\nI love a challenge, so I will be getting on top of this in the coming weeks.\r\n\r\nLast week, I only closed a total of 8 trades; I carried forward my commodity cross-rate pairs, my standard commodity currency pairs and my CHF trades from last week into this coming week. In total 12 trades were carried forward. The trades closed this week were a net loss and this has been reflected in the totals on the excel spreadsheets below in section 3.3.3.\r\n\r\nI am very comfortable with all trades even though the commodity crosses have not yet moved into profit. They are close to it given their volatile nature and the daily ATR (Average True Range). They normally play catch up after the majors have made their initial move. I had hoped that this would have occurred Thursday / Friday last week but alas not yet. I seem to write this a great deal at the moment being both positive and patient is really important.\r\n\r\nI head into this week carrying forward 12 LIVE trades from last week and, as requested by one of my subscribers I will recode the FLASH TRADES that were entered into on Yellen’s testimony that are commodity cross rate pairs to FUNDAMENTAL TRADES. This will be done via email and or twitter. It makes sense to do this for your journals, however for me I have all my commodity cross rate pair set-ups placed with a separate broker away from my main accounts so that I can manage the returns and performance with this type of trade instantaneously.\r\n\r\nYear to date the PREMIUM SERVICE trades, had you just traded single-lot trades would have given you profits from the 113 completed trades so far in 2015 as follows: -\r\n\r\nMICRO LOT TRADERS:                 $218.20\r\nMINI LOT TRADERS:                      $2,182.00\r\nSTANDARD LOT TRADERS:         $21,820.00\r\n\r\nThe usual summary charts detailing the week and year to date performances, are below: -\r\n\r\n<span style=\"text-decoration: underline;\">3.3.2. – PREMIUM SERVICE PROFIT/LOSS RATIOS:\r\n\r\n</span>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/PROFIT-LOSS-RATIOS-01032015.png\"><img class=\"aligncenter size-full wp-image-5371\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/PROFIT-LOSS-RATIOS-01032015.png\" alt=\"PROFIT-LOSS RATIOS 01032015\" width=\"422\" height=\"601\" /></a>\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">3.3.3. – PREMIUM SERVICE RISK/REWARD ANALYSIS:</span>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/RISK-REWARD-01032015.png\"><img class=\"aligncenter size-full wp-image-5372\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/RISK-REWARD-01032015.png\" alt=\"RISK-REWARD 01032015\" width=\"432\" height=\"558\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">3.3.4. – PREMIUM SERVICE FLASH TRADES PERFORMANCE FEBRUARY:</span>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/FLASH1-01032015.png\"><img class=\"aligncenter size-full wp-image-5375\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/FLASH1-01032015.png\" alt=\"FLASH1 01032015\" width=\"495\" height=\"529\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/FLASH2-01032015.png\"><img class=\"aligncenter size-full wp-image-5376\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/FLASH2-01032015.png\" alt=\"FLASH2 01032015\" width=\"504\" height=\"528\" /></a>\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">3.3.5. – PREMIUM SERVICE FLASH TRADES PERFORMANCE YTD:</span>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/FLASH-YTD-FEB-2015.png\"><img class=\"aligncenter size-full wp-image-5377\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/FLASH-YTD-FEB-2015.png\" alt=\"FLASH YTD FEB 2015\" width=\"348\" height=\"380\" /></a>\r\n\r\n<span style=\"text-decoration: underline;\">3.3.6. – PREMIUM SERVICE RADAR TRADES PERFORMANCE FEBRUARY:</span>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/RADAR1-01032015.png\"><img class=\"aligncenter size-full wp-image-5378\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/RADAR1-01032015.png\" alt=\"RADAR1 01032015\" width=\"557\" height=\"483\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/RADAR2-01032015.png\"><img class=\"aligncenter size-full wp-image-5379\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/RADAR2-01032015.png\" alt=\"RADAR2 01032015\" width=\"557\" height=\"489\" /></a>\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">3.3.7. – PREMIUM SERVICE RADAR TRADES PERFORMANCE YTD:</span>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/RADAR2-01032015.png\"><img class=\"aligncenter size-full wp-image-5379\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/RADAR2-01032015.png\" alt=\"RADAR2 01032015\" width=\"557\" height=\"489\" /></a>\r\n\r\n<span style=\"text-decoration: underline;\">3.3.8. – PREMIUM SERVICE FUNDAMENTAL TRADES PERFORMANCE FEBRUARY</span>:\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/FUNDAMENTAL-01032015.png\"><img class=\"aligncenter size-full wp-image-5381\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/FUNDAMENTAL-01032015.png\" alt=\"FUNDAMENTAL 01032015\" width=\"511\" height=\"521\" /></a>\r\n\r\n<span style=\"text-decoration: underline;\">3.3.9. – PREMIUM SERVICE FUNDAMENTAL TRADES PERFORMANCE YTD:</span>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/FUNDAMENTAL-YTD-FEB2015.png\"><img class=\"aligncenter size-full wp-image-5382\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/FUNDAMENTAL-YTD-FEB2015.png\" alt=\"FUNDAMENTAL YTD FEB2015\" width=\"353\" height=\"373\" /></a>\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">3.3.10. – PREMIUM SERVICE OVERALL TRADE SUMMARY MONTH &amp; YTD:</span>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/PREM-SERV-PROFITS1-01032015.png\"><img class=\"aligncenter size-full wp-image-5373\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/PREM-SERV-PROFITS1-01032015.png\" alt=\"PREM SERV PROFITS1 01032015\" width=\"459\" height=\"441\" /></a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/PREM-SERV-PROFITS1-01032015.png\"><img class=\"aligncenter size-full wp-image-5373\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/PREM-SERV-PROFITS1-01032015.png\" alt=\"PREM SERV PROFITS1 01032015\" width=\"459\" height=\"441\" /></a>\r\n<ol start=\"4\">\r\n	<li><strong><span style=\"text-decoration: underline;\"> PREMIUM SERVICE SUBSCRIBER EXCLUSIVE CONTENT:</span></strong></li>\r\n</ol>\r\n(Section 4 is exclusive PREMIUM SERVICE content only available to PREMIUM SERVICE subscribers)\r\n\r\n<span style=\"text-decoration: underline;\">4.1 EDUCATION:\r\n</span>(The full list of all items and more from this section can be found in the PREMIUM SERVICE website in the Trade Essential area under the EDUCATION tab.)\r\n\r\n<span style=\"text-decoration: underline;\">4.2 THE PREMIUM SERVICE - EXISTING LIVE TRADES:</span>\r\n\r\n<span style=\"text-decoration: underline;\">4.3 THE PREMIUM SERVICE – EXISTING LIMIT ORDERS:</span>\r\n\r\n<span style=\"text-decoration: underline;\">4.4 POTENTIAL TRADES - WHAT CHARTS AM I LOOKING AT?</span>\r\n\r\n<span style=\"text-decoration: underline;\">4.5 MAJOR TRADING PAIRS WITH LONGER-TERM TRENDS MATCHING:</span>\r\n\r\n<span style=\"text-decoration: underline;\">4.6 THE KEY SUPPORT &amp; RESISTANCE LEVELS WITH THE USD MAJORS</span><strong><span style=\"text-decoration: underline;\">:\r\n</span></strong>(This content is now for PREMIUM SERVICE subscribers only, it allows me to refer to existing and future set-ups that form part of the PREMIUM SERVICE subscription)\r\n\r\n&nbsp;\r\n<ol start=\"5\">\r\n	<li><strong><span style=\"text-decoration: underline;\"> THE WEEK AHEAD: -\r\nWHAT AM I THINKING &amp; WHAT AM I LOOKING AT?</span></strong></li>\r\n</ol>\r\n<span style=\"text-decoration: underline;\">5.1 MAJOR FOREX NEWS THIS WEEK THAT INTERESTS ME:</span>\r\nSUNDAY: CNY – HSBC Final Manufacturing PMi.\r\n\r\nMONDAY: GBP – Manufacturing PMi.\r\nMONDAY: USD – ISM Manufacturing PMi.\r\nMONDAY: AUD – Building Approvals &amp; RBA Rate Statement,\r\n\r\nTUESDAY: GBP – Construction PMi.\r\nTUESDAY: CAD – GDP.\r\nTUESDAY: NZD – GDT Price Index.\r\nTUESDAY: AUD – GDP.\r\n\r\nWEDNESDAY: GBP – Services PMi.\r\nWEDNESDAY: USD – ADP Non-Farm Employment Change.\r\nWEDNESDAY: CAD – BOC Rate Statement.\r\nWEDNESDAY: AUD – Retail Sales &amp; Trade Balance.\r\n\r\nTHURSDAY: GBP – Interest Rate.\r\nTHURSDAY: EUR – Interest Rate and Draghi Press Conference.\r\nTHURSDAY: CAD – IVEY PMi.\r\n\r\nFRIDAY: CAD – Building Permits &amp; Trade Balance.\r\nFRIDAY: USD – Non-Farm Employment Change and Trade Balance.\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">5.2 FINAL THOUGHTS / CLOSING COMMENTS:</span>\r\n\r\nIt is a whopper of a week this week for news. There is a great deal of market moving news items, we should be ready for continued “chop”, but… this is the week we may break the ranges. Many of the currency pairs have been somewhat range bound recently, even though the limits of the ranges may have extended a little, we are still very much trading inside ranges. With all the front line news this week we have the chance to really break out with some big moves.\r\n\r\nThe pick of the news has to be: -\r\n\r\n<strong>RBA - Rate Statement</strong>\r\n<strong>CAD - Rate Statement</strong>\r\n<strong>ECB - Press Conference</strong>\r\n<strong>USD - Non-Farm Payrolls</strong>\r\n\r\nAs always, there will be trades to trade and there will be some great opportunities, please trade in line with your RISK MANAGEMENT parameters from your TRADING PLAN. If you do not have a TRADE PLAN, in my opinion, you should, as this will help you with consistency.\r\n<p style=\"text-align: center;\"><strong>Consistency = longevity in trading and that is a critical goal.\r\nIT IS THE KEY MEASUREMENT</strong></p>\r\nBefore you enter a trade work out the risk, price it in $$$. Place your stop accordingly. PREMIUM SERVICE subscribers have a full library of information on RISK MANAGEMENT, RISK TOLERANCES and POSITION SIZING etc. available for reference 24x7.\r\n\r\nTake care.\r\n\r\nScott Pickering\r\nThe Pip Accumulator\r\nSunday March 1st 2015\r\n\r\nEMAIL / FOLLOW ME AT:\r\ndrivethru@weeklyfxdrivethru.com\r\nTwitter: @pipaccumulator\r\n<span style=\"line-height: 1.5;\">Google+/scottpickering\r\n</span>Tumblr: thepipaccumulator\r\n\r\n<strong><span style=\"text-decoration: underline;\">DISCLAIMER &amp; OTHER DATA:</span></strong>\r\n\r\n<span style=\"text-decoration: underline;\">SUBSCRIBING TO THE “FREE VERSION” OF THE WEEKLY FX DRIVE THRU:</span>\r\n\r\nIf you like what you have almost completed reading and want to have THE WEEKLY FX DRIVE THRU delivered direct to your email inbox next week, here is what you do: -\r\n\r\nGo to my website: - <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a>\r\n\r\nOn the right hand side of the welcome page under my bio “about me” there is a blue box titled SUBSCRIBE TO FREE NEWSLETTER, click on profile and add your email address. It is as simple and straightforward as that.\r\n\r\nI do NOT sell your email data to anyone…do not worry...one less thing to worry about!\r\n\r\n<span style=\"text-decoration: underline;\">THIRD PARTY COMPANIES WITH BANNERS ON MY WEBSITE:</span>\r\n\r\nThere are a small number of companies with banners on my website. In the interests of full disclosure I have a reciprocal business arrangement with these companies to promote their products.\r\n\r\nUnlike many of my competitors, I use the products and services provided by these companies. I will NOT allow any third party on my website unless I am 100% happy that they can back up their promise.\r\n\r\nBy virtue of the fact, I work with these companies almost daily. I am more than confident to have them advertise on my website.\r\n\r\nAny reader who buys products or services from any advertiser via a banner on my website, <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a> will automatically have my help and assistance with any issues that they may have with my partnered advertisers.\r\n\r\n<span style=\"text-decoration: underline;\">TRADING &amp; PERFORMANCES DISCLAIMER:</span>\r\n\r\nFLASH, RADAR and FUNDAMENTAL trade set-ups, “Tweets” and “Trade ideas” that are posted in my blogs or on Twitter are trades and set-ups that interest me. They are provided for training and informational purposes only and should not be interpreted as an offer, solicitation or recommendation of any specific security or investment strategy. Past performance is not indicative of future results. Trading Forex carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to trade any such leveraged products you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with trading on margin, and seek advice from an independent financial adviser if you have any doubts.','DON’T BE CRAZY AND IGNORE USD STRENGTH… THE USD RALLY GOES ON','','inherit','open','closed','','5397-revision-v1','','','2015-02-28 14:04:27','2015-02-28 19:04:27','',5397,'https://weeklyfxdrivethru.com/5397-revision-v1/',0,'revision','',0),(5399,1,'2015-02-28 14:07:19','2015-02-28 19:07:19','<h3 style=\"text-align: center;\"><strong>THE PREMIUM SERVICE\r\n</strong><strong>(The Home of Single-Lot $$$$ Trading)</strong></h3>\r\n<h4><strong>DATE: 01.03.2015\r\nREFERENCE: #141\r\n</strong><strong>BLOG: THE WEEKLY FX DRIVE THRU</strong></h4>\r\n<ol>\r\n	<li><strong><span style=\"text-decoration: underline;\"> INTRODUCTION / LOOKING BACK OVER THE PAST WEEK:</span></strong></li>\r\n</ol>\r\nThe Greek Tragedy played out early in the week with the EUROGROUP doing what they had to do by accepting the Greek governments proposals for an extension of 4 months to the existing credit line. Make no mistake, like a lot of people, I am fully expecting the GREEK BAILOUT ACT III to start around June this year.\r\n\r\nI was suckered on Tuesday with Janet Yellens’s testimony and entered en mass nearly all my favourite commodity cross-rates long… and… I am still in them. For the past 48 hours they have in fact just moved sideways, there has not been too much movement. I have all my commodity cross-rate trades in a separate account so that they do not distract me from any other trades on my main screen. So all I do is look at them once or twice a day and look at the net $$$ position. It has not really changed much since Wednesday’s close of business.\r\n\r\nThe other big news of the week was the U.S.$ index (DXY) breaking out on Thursday on the back of good CPi data.\r\n\r\nThese markets take no prisoners at all. In the early European session the DXY hit trend line support, I have no doubt that traders were lining up to be dollar bears as it approached support. After the data release it leaped up and didn’t just hit trend line resistance it broke through. I can imagine the $ bears were left swearing and cursing at their terminals. On Thursday we closed above the breakout level and held.\r\n\r\nThen on Friday, we had great GDP data which consolidated the move higher from which we broke lower on really poor housing and Chicago PMi numbers, only to bounce of the trend line and move higher. If the DXY is rallying on poor data this is something to hold on to and remember. This in itself for some traders is enough to keep them a USD bull.\r\n\r\nThe weekly DXY close is shown on the chart below.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/USD-DXY-SECTION-1-in-BLOG-01032015.png\"><img class=\"aligncenter size-large wp-image-5383\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/USD-DXY-SECTION-1-in-BLOG-01032015-1024x442.png\" alt=\"USD DXY SECTION 1 in BLOG 01032015\" width=\"1024\" height=\"442\" /></a>\r\n\r\n&nbsp;\r\n\r\nI am a USD bull, for reasons such as: -\r\n<ul>\r\n	<li>Central Bank divergences.</li>\r\n	<li>S&amp;P approaching the 261.8% fib extension (pullback imminent in my opinion).</li>\r\n	<li>JPY divergence.</li>\r\n	<li>GOLD struggling to keep above the $1,200.00 level.</li>\r\n	<li>OIL, although extremely choppy I do think is moving lower. Maybe not to $20 Citi forecast but at least a re-test of the recent lows and maybe a dip into the $30’s.</li>\r\n	<li>Finally, the DXY has broken higher above a 29-year trend line and has extremely bullish looking chart formations. The Central Bank divergences between the FED and ECB are enough to keep me bullish the USD.</li>\r\n</ul>\r\nThe markets are very range bound and will continue, in my opinion, to consolidate for a little while longer. The USD breakout is hard for market makers to understand. For basically a lifetime, they have been trading with a depressed weak currency and, more recently a safety blanket provided by the FED of keeping the markets heavily liquidated (QE) with low interest rates forcing investors to buy risk assets such as stocks to obtain a return. Both have now gone. We are in a transitory (love that word… if it’s good enough for Yellen and Draghi it’s good enough for me!) period.\r\n\r\nThis period of transition from QE (Quantitative Easing) to raising interest rates seems at times, when listening to analysts and guests on CNBC and Bloomberg, to be a period of dis-belief, it is weird. The FED will raise rates. This is a fact. The stock markets are supposed to be future pricing mechanisms, they know that it’s (rate rises) coming they just don\'t want to believe it as it will be the end of an era. So, the equity markets are really squeezing every last drop of juice out of the lemon before the inevitable hits.\r\n\r\nI haven’t mentioned GREECE yet. No doubt next week they will announce that after receiving the bailout/loan extension they will want to fully negotiate their bailout deal as part of their election-winning mandate for the Greek people. As I wrote last week, the EUROGROUP v GREECE … IT’S NOT OVER YET. In my opinion this has NOT EVEN STARTED!! Happy fun days are ahead.\r\n\r\nLike I said last week, I believe that we are going to have a period with a trending market for a little while as all the correlations should hopefully fall into place and line up correctly as equities fall back, which I believe they will do very soon.\r\n\r\nAs always, patience is the key.\r\n\r\n&nbsp;\r\n<ol start=\"2\">\r\n	<li><strong><span style=\"text-decoration: underline;\"> WHAT’S ON MY MIND: -\r\nTHE FUNDAMENTAL TRADERS OVERVIEW:</span></strong></li>\r\n</ol>\r\n<p style=\"text-align: center;\"><strong>DON’T BE CRAZY AND IGNORE USD STRENGTH…\r\n</strong><strong>THE USD RALLY GOES ON</strong></p>\r\nI referenced a few comments earlier with regards to the USD. I now want to expand my earlier comments with a few more thoughts.\r\n\r\nThere is something really building with the USD index (DXY). I have below 3 charts of the USD index (DXY). As usual I have kept the charts as clear and as simple as possible to follow.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/DXY-2.1-01032015.png\"><img class=\"aligncenter size-large wp-image-5384\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/DXY-2.1-01032015-1024x454.png\" alt=\"DXY 2.1 01032015\" width=\"1024\" height=\"454\" /></a>\r\n\r\n&nbsp;\r\n\r\nThe monthly chart above is very straightforward. It just shows the 29-year trend line that was broken in July 2014. Ever since that date the USD has been on the tear. One could argue that the sleeping giant has now awoken.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/DXY-2.2-01032015.png\"><img class=\"aligncenter size-large wp-image-5385\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/DXY-2.2-01032015-1024x441.png\" alt=\"DXY 2.2 01032015\" width=\"1024\" height=\"441\" /></a>\r\n\r\n&nbsp;\r\n\r\nThe purpose of this monthly chart is just to show that since the last high in 2002 to the lows in 2008 using a Fibonacci retracement we have just passed the 50% retracement level of that move at 94.60. The DXY closed last week just above a nice round number of 95.00 at 95.26 and the 61.8% retracement above 100.00 at 100.31 looms.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/DXY-2.3-01032015.png\"><img class=\"aligncenter size-large wp-image-5386\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/DXY-2.3-01032015-1024x447.png\" alt=\"DXY 2.3 01032015\" width=\"1024\" height=\"447\" /></a>\r\n\r\n&nbsp;\r\n\r\nThe purpose of this chart is just to drill down a little closer using a daily chart. It is very clear to see what an orderly move has taken place. It powers but it’s not explosive. Every substantial move higher has a period of consolidation in what is a bullish flag formation. I have drawn three bull flags on the move since July last year.\r\n\r\nThere is nothing FUNDAMENTAL in my mind that would stop this move continuing unless Janet Yellen at the FED decided to change U.S. Monetary Policy all of a sudden. The chances of that coming out of the “crash” are remote and in itself would probably send the U.S. economy into recession.\r\n\r\nWhat does it all mean for Forex traders?\r\n\r\nFor months as a FUNDAMENTAL trader 80% of my trades within the PREMIUM SERVICE have all been slanted towards USD strength using Central Bank divergences to further support my trade set-ups.\r\n\r\nI wrote the section below earlier in the blog…\r\n\r\n<strong><span style=\"color: #0000ff;\"><em>I am a USD bull, for reasons such as: -</em></span></strong>\r\n<ul>\r\n	<li><strong><span style=\"color: #0000ff;\"><em>Central Bank divergences.</em></span></strong></li>\r\n	<li><strong><span style=\"color: #0000ff;\"><em>S&amp;P approaching the 261.8% fib extension (pullback imminent in my opinion).</em></span></strong></li>\r\n	<li><strong><span style=\"color: #0000ff;\"><em>JPY divergence.</em></span></strong></li>\r\n	<li><strong><span style=\"color: #0000ff;\"><em>GOLD struggling to keep above the $1,200.00 level.</em></span></strong></li>\r\n	<li><strong><span style=\"color: #0000ff;\"><em>OIL, although extremely choppy I do think is moving lower. Maybe not to $20 Citi forecast but at least a re-test of the recent lows and maybe a dip into the $30’s.</em></span></strong></li>\r\n</ul>\r\n<strong><span style=\"color: #0000ff;\"><em>Finally, the DXY has broken higher above a 29-year trend line and has extremely bullish looking chart formations. The Central Bank divergences between the FED and ECB are enough to keep me bullish the USD.</em></span></strong>\r\n\r\nWith all this said what are the trades that I am looking at?\r\n\r\nFirstly, if I truly believe that we are looking at DXY 100.00, and I think that this is a real possibility, so where does this move leave the USD majors?\r\n\r\nIn the past three years of writing THE WEEKLY FX DRIVE THRU I have talked a lot about inter-currency and inter-market correlations and divergences. These really do matter and are an important part of trading.\r\n\r\nPersonally the DXY move from the lows of around 70.00 to the present day of 95.00 has been orderly in my opinion and not explosive. (A good example of an explosive move would be parts of the BOJ/Abe/Kuroda QE move in the USD/JPY). To a large extent the easy move has been done. Markets see big round numbers as a tractor beam sucking them in towards it. I have no doubt that 100.00 has several algorithmic traders wetting their pants with excitement.\r\n\r\nWe may get an explosive move that is spurred on by the FED rate hike in June. I know, the markets are grabbing hard and hugging their security blankets really hard, but mother Janet may whip them away and push up rates only very modestly, but that would be enough in my opinion.\r\n\r\nThe point that I am going to make here is that with an explosive move I believe that all relationships / correlations whether via currency or markets will be 100% in sync.\r\n\r\nIf the Fed raises in the Autumn (Fall), we would see the continuation of the orderly move higher. This would allow for divergence to continue between currencies and markets. At the end of the day how we get there is irrelevant how we trade to get there is of greater importance.\r\n\r\nFirstly with a USD index to 100.00, you have to be bullish the USD.\r\n\r\nThe best trades are in my opinion based around Central Bank divergence. The most obvious being: -\r\n<p style=\"text-align: center;\"><strong>ECB versus FED – EUR/USD short</strong>\r\n<strong>RBA versus FED – AUD/USD short</strong>\r\n<strong>FED versus SNB – USD/CHF long</strong>\r\n<strong>BOE versus RBA – GBP/AUD long</strong></p>\r\nWhy complicate matters too much:\r\n\r\nBOJ - There are heavy rumours that the BOJ QE program is ending.\r\nRBNZ – They claim neutrality… hmmmn let’s run with that one!!\r\nBOC – Poloz says recent rate hike is a one off… yeah right!!\r\n\r\nThere are 4 pairs above that represent trading with FUNDAMENTALS based off the back of Central Bank policies. Are you a big enough trader to take on the $$$ held by a Central Bank - of course not.\r\n\r\nThe 4 trades above are as stated based around Central Bank divergence, I am ignoring all the other noises…. keeping it dead simple for positional traders. Remember pairs do not move in straight lines. Look at longer-term charts to give you the overview of the moves, try if you can to ignore the charts under at least 240 minutes (4 hours).\r\n\r\nWhat are the entry levels, targets and stop loss levels?\r\n\r\nTo get these you need to be a subscriber to the PREMIUM SERVICE (see section 3 of this blog for details).\r\n\r\nToday, the PREMIUM SERVICE is LIVE in 3 of the 4 trading pairs highlighted above, but it is very much at the embryonic stages and it’s certainly not too late to establish a position. I am looking to re-enter the EUR/USD, after taking a small intra-day profit on Friday. For subscribers this trade and others are highlighted in section 4.4. of this blog.\r\n\r\nThe one thing about the Forex market is that there are always opportunities. You need to be patient at all times. As a predominantly position style FUNDAMENTAL TRADER I can spend a week or two with trades losing money waiting for my move to establish. Currencies never move in a straight line. Even though I have outlined trades based upon USD strength there will be days when you trade on USD weakness within a USD strength longer-term move. This is what, in my opinion, make Forex trading so interesting.\r\n\r\n&nbsp;\r\n<ol start=\"3\">\r\n	<li><strong></strong><strong><span style=\"text-decoration: underline;\"> THE PREMIUM SERVICE:</span></strong><strong><span style=\"text-decoration: underline;\">SUMMARY OF PERFORMANCE:</span></strong></li>\r\n</ol>\r\n<span style=\"text-decoration: underline;\">3.1 OVERVIEW:</span>\r\n\r\nFor new readers who may not be aware, I refer to the PREMIUM SERVICE quite a lot in this blog and for more details about what it is, and, how much it costs, you will need to go the welcome page of <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a> At the top of the page there are three drop down menus: PREMIUM SERVICE, PROMOTIONS (if available), SIGN-UP and DISCLAIMER. Further details and how to join are all contained there. You will need at PayPal account to subscribe.\r\n\r\n<span style=\"text-decoration: underline;\">3.2 PREMIUM SERVICE – SUBSCRIPTION COSTS:</span>\r\n\r\nFull details regarding the PREMIUM SERVICE can be found on my website <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a>\r\n\r\nOn the welcome page there are a series of TABS at the top of the page that provide a summary of what the PREMIUM SERVICE is about and what you receive for your subscription.\r\n\r\nTHE 2015 SUBSCRIPTION BREAKDOWN IS AS FOLLOWS: -\r\n\r\n10 weeks - $200.00\r\n20 weeks - $350.00\r\n40 weeks - $500.00\r\n\r\n<span style=\"text-decoration: underline;\">3.3.1. TRADING REVIEW OF ACTIVITY and SUMMARY OF PERFORMANCE:</span>\r\n\r\nI have been struggling with trades quite a lot this year in comparison to last year. I am not quite sure what to attribute this to; was it: -\r\n<ul>\r\n	<li>The SNB peg removal that hit me hard with my FXCM GBP/CHF trade.</li>\r\n	<li>The following week we had a day of three squeezes that rocked me as I was caught the wrong way.</li>\r\n	<li>The week after there was another monster squeeze, which again caught me the wrong way.</li>\r\n	<li>Then this week I was suckered like a “lamb to the slaughter“ on Yellen’s testimony. I read something as USD bullish it was in fact bearish.</li>\r\n</ul>\r\nI am not absolutely certain what it is. The PREMIUM SERVICE single lot trading account is healthy. My main trading account is lower due to the GBP/CHF trade and a couple of trades with greater position sizes that were closed in the squeezes detailed above.\r\n\r\nThe strange thing with regards to my trading patterns this year is that I am not making money from RADAR TRADES. This could be my source of some of my uncertainty with trading at the moment. Last year RADAR TRADES provided over $34,670.00 (STANDARD LOTS) in income from 175 trades (Average income per trade $198.11). This year so far RADAR TRADES have contributed a loss of $2,490.00 (STANDARD LOTS) from 39 trades (Average Loss per trade $63.84). I am not hanging around too much in the losing trades if you look at the profit / loss it’s about a ratio of 3:1 with last years profits versus this years losses so my decision making on when to take a loss is about normal.\r\n\r\nI love a challenge, so I will be getting on top of this in the coming weeks.\r\n\r\nLast week, I only closed a total of 8 trades; I carried forward my commodity cross-rate pairs, my standard commodity currency pairs and my CHF trades from last week into this coming week. In total 12 trades were carried forward. The trades closed this week were a net loss and this has been reflected in the totals on the excel spreadsheets below in section 3.3.3.\r\n\r\nI am very comfortable with all trades even though the commodity crosses have not yet moved into profit. They are close to it given their volatile nature and the daily ATR (Average True Range). They normally play catch up after the majors have made their initial move. I had hoped that this would have occurred Thursday / Friday last week but alas not yet. I seem to write this a great deal at the moment being both positive and patient is really important.\r\n\r\nI head into this week carrying forward 12 LIVE trades from last week and, as requested by one of my subscribers I will recode the FLASH TRADES that were entered into on Yellen’s testimony that are commodity cross rate pairs to FUNDAMENTAL TRADES. This will be done via email and or twitter. It makes sense to do this for your journals, however for me I have all my commodity cross rate pair set-ups placed with a separate broker away from my main accounts so that I can manage the returns and performance with this type of trade instantaneously.\r\n\r\nYear to date the PREMIUM SERVICE trades, had you just traded single-lot trades would have given you profits from the 113 completed trades so far in 2015 as follows: -\r\n<p style=\"text-align: center;\"><strong>MICRO LOT TRADERS:                 $218.20</strong>\r\n<strong> MINI LOT TRADERS:                      $2,182.00</strong>\r\n<strong> STANDARD LOT TRADERS:         $21,820.00</strong></p>\r\nThe usual summary charts detailing the week and year to date performances, are below: -\r\n\r\n<span style=\"text-decoration: underline;\">3.3.2. – PREMIUM SERVICE PROFIT/LOSS RATIOS:</span>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/PROFIT-LOSS-RATIOS-01032015.png\"><img class=\"aligncenter size-full wp-image-5371\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/PROFIT-LOSS-RATIOS-01032015.png\" alt=\"PROFIT-LOSS RATIOS 01032015\" width=\"422\" height=\"601\" /></a>\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">3.3.3. – PREMIUM SERVICE RISK/REWARD ANALYSIS:</span>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/RISK-REWARD-01032015.png\"><img class=\"aligncenter size-full wp-image-5372\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/RISK-REWARD-01032015.png\" alt=\"RISK-REWARD 01032015\" width=\"432\" height=\"558\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">3.3.4. – PREMIUM SERVICE FLASH TRADES PERFORMANCE FEBRUARY:</span>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/FLASH1-01032015.png\"><img class=\"aligncenter size-full wp-image-5375\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/FLASH1-01032015.png\" alt=\"FLASH1 01032015\" width=\"495\" height=\"529\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/FLASH2-01032015.png\"><img class=\"aligncenter size-full wp-image-5376\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/FLASH2-01032015.png\" alt=\"FLASH2 01032015\" width=\"504\" height=\"528\" /></a>\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">3.3.5. – PREMIUM SERVICE FLASH TRADES PERFORMANCE YTD:</span>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/FLASH-YTD-FEB-2015.png\"><img class=\"aligncenter size-full wp-image-5377\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/FLASH-YTD-FEB-2015.png\" alt=\"FLASH YTD FEB 2015\" width=\"348\" height=\"380\" /></a>\r\n\r\n<span style=\"text-decoration: underline;\">3.3.6. – PREMIUM SERVICE RADAR TRADES PERFORMANCE FEBRUARY:</span>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/RADAR1-01032015.png\"><img class=\"aligncenter size-full wp-image-5378\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/RADAR1-01032015.png\" alt=\"RADAR1 01032015\" width=\"557\" height=\"483\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/RADAR2-01032015.png\"><img class=\"aligncenter size-full wp-image-5379\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/RADAR2-01032015.png\" alt=\"RADAR2 01032015\" width=\"557\" height=\"489\" /></a>\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">3.3.7. – PREMIUM SERVICE RADAR TRADES PERFORMANCE YTD:</span>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/RADAR2-01032015.png\"><img class=\"aligncenter size-full wp-image-5379\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/RADAR2-01032015.png\" alt=\"RADAR2 01032015\" width=\"557\" height=\"489\" /></a>\r\n\r\n<span style=\"text-decoration: underline;\">3.3.8. – PREMIUM SERVICE FUNDAMENTAL TRADES PERFORMANCE FEBRUARY</span>:\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/FUNDAMENTAL-01032015.png\"><img class=\"aligncenter size-full wp-image-5381\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/FUNDAMENTAL-01032015.png\" alt=\"FUNDAMENTAL 01032015\" width=\"511\" height=\"521\" /></a>\r\n\r\n<span style=\"text-decoration: underline;\">3.3.9. – PREMIUM SERVICE FUNDAMENTAL TRADES PERFORMANCE YTD:</span>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/FUNDAMENTAL-YTD-FEB2015.png\"><img class=\"aligncenter size-full wp-image-5382\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/FUNDAMENTAL-YTD-FEB2015.png\" alt=\"FUNDAMENTAL YTD FEB2015\" width=\"353\" height=\"373\" /></a>\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">3.3.10. – PREMIUM SERVICE OVERALL TRADE SUMMARY MONTH &amp; YTD:</span>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/PREM-SERV-PROFITS1-01032015.png\"><img class=\"aligncenter size-full wp-image-5373\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/PREM-SERV-PROFITS1-01032015.png\" alt=\"PREM SERV PROFITS1 01032015\" width=\"459\" height=\"441\" /></a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/PREM-SERV-PROFITS1-01032015.png\"><img class=\"aligncenter size-full wp-image-5373\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/PREM-SERV-PROFITS1-01032015.png\" alt=\"PREM SERV PROFITS1 01032015\" width=\"459\" height=\"441\" /></a>\r\n<ol start=\"4\">\r\n	<li><strong><span style=\"text-decoration: underline;\"> PREMIUM SERVICE SUBSCRIBER EXCLUSIVE CONTENT:</span></strong></li>\r\n</ol>\r\n(Section 4 is exclusive PREMIUM SERVICE content only available to PREMIUM SERVICE subscribers)\r\n\r\n<span style=\"text-decoration: underline;\">4.1 EDUCATION:\r\n</span>(The full list of all items and more from this section can be found in the PREMIUM SERVICE website in the Trade Essential area under the EDUCATION tab.)\r\n\r\n<span style=\"text-decoration: underline;\">4.2 THE PREMIUM SERVICE - EXISTING LIVE TRADES:</span>\r\n\r\n<span style=\"text-decoration: underline;\">4.3 THE PREMIUM SERVICE – EXISTING LIMIT ORDERS:</span>\r\n\r\n<span style=\"text-decoration: underline;\">4.4 POTENTIAL TRADES - WHAT CHARTS AM I LOOKING AT?</span>\r\n\r\n<span style=\"text-decoration: underline;\">4.5 MAJOR TRADING PAIRS WITH LONGER-TERM TRENDS MATCHING:</span>\r\n\r\n<span style=\"text-decoration: underline;\">4.6 THE KEY SUPPORT &amp; RESISTANCE LEVELS WITH THE USD MAJORS</span><strong><span style=\"text-decoration: underline;\">:\r\n</span></strong>(This content is now for PREMIUM SERVICE subscribers only, it allows me to refer to existing and future set-ups that form part of the PREMIUM SERVICE subscription)\r\n\r\n&nbsp;\r\n<ol start=\"5\">\r\n	<li><strong><span style=\"text-decoration: underline;\"> THE WEEK AHEAD: -\r\nWHAT AM I THINKING &amp; WHAT AM I LOOKING AT?</span></strong></li>\r\n</ol>\r\n<span style=\"text-decoration: underline;\">5.1 MAJOR FOREX NEWS THIS WEEK THAT INTERESTS ME:</span>\r\n\r\nSUNDAY: CNY – HSBC Final Manufacturing PMi.\r\n\r\nMONDAY: GBP – Manufacturing PMi.\r\nMONDAY: USD – ISM Manufacturing PMi.\r\nMONDAY: AUD – Building Approvals &amp; RBA Rate Statement,\r\n\r\nTUESDAY: GBP – Construction PMi.\r\nTUESDAY: CAD – GDP.\r\nTUESDAY: NZD – GDT Price Index.\r\nTUESDAY: AUD – GDP.\r\n\r\nWEDNESDAY: GBP – Services PMi.\r\nWEDNESDAY: USD – ADP Non-Farm Employment Change.\r\nWEDNESDAY: CAD – BOC Rate Statement.\r\nWEDNESDAY: AUD – Retail Sales &amp; Trade Balance.\r\n\r\nTHURSDAY: GBP – Interest Rate.\r\nTHURSDAY: EUR – Interest Rate and Draghi Press Conference.\r\nTHURSDAY: CAD – IVEY PMi.\r\n\r\nFRIDAY: CAD – Building Permits &amp; Trade Balance.\r\nFRIDAY: USD – Non-Farm Employment Change and Trade Balance.\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">5.2 FINAL THOUGHTS / CLOSING COMMENTS:</span>\r\n\r\nIt is a whopper of a week this week for news. There is a great deal of market moving news items, we should be ready for continued “chop”, but… this is the week we may break the ranges. Many of the currency pairs have been somewhat range bound recently, even though the limits of the ranges may have extended a little, we are still very much trading inside ranges. With all the front line news this week we have the chance to really break out with some big moves.\r\n\r\nThe pick of the news has to be: -\r\n\r\n<strong>RBA - Rate Statement</strong>\r\n<strong>CAD - Rate Statement</strong>\r\n<strong>ECB - Press Conference</strong>\r\n<strong>USD - Non-Farm Payrolls</strong>\r\n\r\nAs always, there will be trades to trade and there will be some great opportunities, please trade in line with your RISK MANAGEMENT parameters from your TRADING PLAN. If you do not have a TRADE PLAN, in my opinion, you should, as this will help you with consistency.\r\n<p style=\"text-align: center;\"><strong>Consistency = longevity in trading and that is a critical goal.\r\nIT IS THE KEY MEASUREMENT</strong></p>\r\nBefore you enter a trade work out the risk, price it in $$$. Place your stop accordingly. PREMIUM SERVICE subscribers have a full library of information on RISK MANAGEMENT, RISK TOLERANCES and POSITION SIZING etc. available for reference 24x7.\r\n\r\nTake care.\r\n\r\nScott Pickering\r\nThe Pip Accumulator\r\nSunday March 1st 2015\r\n\r\nEMAIL / FOLLOW ME AT:\r\ndrivethru@weeklyfxdrivethru.com\r\nTwitter: @pipaccumulator\r\n<span style=\"line-height: 1.5;\">Google+/scottpickering\r\n</span>Tumblr: thepipaccumulator\r\n\r\n<strong><span style=\"text-decoration: underline;\">DISCLAIMER &amp; OTHER DATA:</span></strong>\r\n\r\n<span style=\"text-decoration: underline;\">SUBSCRIBING TO THE “FREE VERSION” OF THE WEEKLY FX DRIVE THRU:</span>\r\n\r\nIf you like what you have almost completed reading and want to have THE WEEKLY FX DRIVE THRU delivered direct to your email inbox next week, here is what you do: -\r\n\r\nGo to my website: - <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a>\r\n\r\nOn the right hand side of the welcome page under my bio “about me” there is a blue box titled SUBSCRIBE TO FREE NEWSLETTER, click on profile and add your email address. It is as simple and straightforward as that.\r\n\r\nI do NOT sell your email data to anyone…do not worry...one less thing to worry about!\r\n\r\n<span style=\"text-decoration: underline;\">THIRD PARTY COMPANIES WITH BANNERS ON MY WEBSITE:</span>\r\n\r\nThere are a small number of companies with banners on my website. In the interests of full disclosure I have a reciprocal business arrangement with these companies to promote their products.\r\n\r\nUnlike many of my competitors, I use the products and services provided by these companies. I will NOT allow any third party on my website unless I am 100% happy that they can back up their promise.\r\n\r\nBy virtue of the fact, I work with these companies almost daily. I am more than confident to have them advertise on my website.\r\n\r\nAny reader who buys products or services from any advertiser via a banner on my website, <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a> will automatically have my help and assistance with any issues that they may have with my partnered advertisers.\r\n\r\n<span style=\"text-decoration: underline;\">TRADING &amp; PERFORMANCES DISCLAIMER:</span>\r\n\r\nFLASH, RADAR and FUNDAMENTAL trade set-ups, “Tweets” and “Trade ideas” that are posted in my blogs or on Twitter are trades and set-ups that interest me. They are provided for training and informational purposes only and should not be interpreted as an offer, solicitation or recommendation of any specific security or investment strategy. Past performance is not indicative of future results. Trading Forex carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to trade any such leveraged products you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with trading on margin, and seek advice from an independent financial adviser if you have any doubts.','DON’T BE CRAZY AND IGNORE USD STRENGTH… THE USD RALLY GOES ON','','inherit','open','closed','','5397-revision-v1','','','2015-02-28 14:07:19','2015-02-28 19:07:19','',5397,'https://weeklyfxdrivethru.com/5397-revision-v1/',0,'revision','',0),(5400,1,'2015-02-28 14:07:51','2015-02-28 19:07:51','<h3 style=\"text-align: center;\"><strong>THE PREMIUM SERVICE\r\n</strong><strong>(The Home of Single-Lot $$$$ Trading)</strong></h3>\r\n<h4><strong>DATE: 01.03.2015\r\nREFERENCE: #141\r\n</strong><strong>BLOG: THE WEEKLY FX DRIVE THRU</strong></h4>\r\n<ol>\r\n	<li><strong><span style=\"text-decoration: underline;\"> INTRODUCTION / LOOKING BACK OVER THE PAST WEEK:</span></strong></li>\r\n</ol>\r\nThe Greek Tragedy played out early in the week with the EUROGROUP doing what they had to do by accepting the Greek governments proposals for an extension of 4 months to the existing credit line. Make no mistake, like a lot of people, I am fully expecting the GREEK BAILOUT ACT III to start around June this year.\r\n\r\nI was suckered on Tuesday with Janet Yellens’s testimony and entered en mass nearly all my favourite commodity cross-rates long… and… I am still in them. For the past 48 hours they have in fact just moved sideways, there has not been too much movement. I have all my commodity cross-rate trades in a separate account so that they do not distract me from any other trades on my main screen. So all I do is look at them once or twice a day and look at the net $$$ position. It has not really changed much since Wednesday’s close of business.\r\n\r\nThe other big news of the week was the U.S.$ index (DXY) breaking out on Thursday on the back of good CPi data.\r\n\r\nThese markets take no prisoners at all. In the early European session the DXY hit trend line support, I have no doubt that traders were lining up to be dollar bears as it approached support. After the data release it leaped up and didn’t just hit trend line resistance it broke through. I can imagine the $ bears were left swearing and cursing at their terminals. On Thursday we closed above the breakout level and held.\r\n\r\nThen on Friday, we had great GDP data which consolidated the move higher from which we broke lower on really poor housing and Chicago PMi numbers, only to bounce of the trend line and move higher. If the DXY is rallying on poor data this is something to hold on to and remember. This in itself for some traders is enough to keep them a USD bull.\r\n\r\nThe weekly DXY close is shown on the chart below.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/USD-DXY-SECTION-1-in-BLOG-01032015.png\"><img class=\"aligncenter size-large wp-image-5383\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/USD-DXY-SECTION-1-in-BLOG-01032015-1024x442.png\" alt=\"USD DXY SECTION 1 in BLOG 01032015\" width=\"1024\" height=\"442\" /></a>\r\n\r\n&nbsp;\r\n\r\nI am a USD bull, for reasons such as: -\r\n<ul>\r\n	<li>Central Bank divergences.</li>\r\n	<li>S&amp;P approaching the 261.8% fib extension (pullback imminent in my opinion).</li>\r\n	<li>JPY divergence.</li>\r\n	<li>GOLD struggling to keep above the $1,200.00 level.</li>\r\n	<li>OIL, although extremely choppy I do think is moving lower. Maybe not to $20 Citi forecast but at least a re-test of the recent lows and maybe a dip into the $30’s.</li>\r\n	<li>Finally, the DXY has broken higher above a 29-year trend line and has extremely bullish looking chart formations. The Central Bank divergences between the FED and ECB are enough to keep me bullish the USD.</li>\r\n</ul>\r\nThe markets are very range bound and will continue, in my opinion, to consolidate for a little while longer. The USD breakout is hard for market makers to understand. For basically a lifetime, they have been trading with a depressed weak currency and, more recently a safety blanket provided by the FED of keeping the markets heavily liquidated (QE) with low interest rates forcing investors to buy risk assets such as stocks to obtain a return. Both have now gone. We are in a transitory (love that word… if it’s good enough for Yellen and Draghi it’s good enough for me!) period.\r\n\r\nThis period of transition from QE (Quantitative Easing) to raising interest rates seems at times, when listening to analysts and guests on CNBC and Bloomberg, to be a period of dis-belief, it is weird. The FED will raise rates. This is a fact. The stock markets are supposed to be future pricing mechanisms, they know that it’s (rate rises) coming they just don\'t want to believe it as it will be the end of an era. So, the equity markets are really squeezing every last drop of juice out of the lemon before the inevitable hits.\r\n\r\nI haven’t mentioned GREECE yet. No doubt next week they will announce that after receiving the bailout/loan extension they will want to fully negotiate their bailout deal as part of their election-winning mandate for the Greek people. As I wrote last week, the EUROGROUP v GREECE … IT’S NOT OVER YET. In my opinion this has NOT EVEN STARTED!! Happy fun days are ahead.\r\n\r\nLike I said last week, I believe that we are going to have a period with a trending market for a little while as all the correlations should hopefully fall into place and line up correctly as equities fall back, which I believe they will do very soon.\r\n\r\nAs always, patience is the key.\r\n\r\n&nbsp;\r\n<ol start=\"2\">\r\n	<li><strong><span style=\"text-decoration: underline;\"> WHAT’S ON MY MIND: -\r\nTHE FUNDAMENTAL TRADERS OVERVIEW:</span></strong></li>\r\n</ol>\r\n<p style=\"text-align: center;\"><strong>DON’T BE CRAZY AND IGNORE USD STRENGTH…\r\n</strong><strong>THE USD RALLY GOES ON</strong></p>\r\nI referenced a few comments earlier with regards to the USD. I now want to expand my earlier comments with a few more thoughts.\r\n\r\nThere is something really building with the USD index (DXY). I have below 3 charts of the USD index (DXY). As usual I have kept the charts as clear and as simple as possible to follow.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/DXY-2.1-01032015.png\"><img class=\"aligncenter size-large wp-image-5384\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/DXY-2.1-01032015-1024x454.png\" alt=\"DXY 2.1 01032015\" width=\"1024\" height=\"454\" /></a>\r\n\r\n&nbsp;\r\n\r\nThe monthly chart above is very straightforward. It just shows the 29-year trend line that was broken in July 2014. Ever since that date the USD has been on the tear. One could argue that the sleeping giant has now awoken.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/DXY-2.2-01032015.png\"><img class=\"aligncenter size-large wp-image-5385\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/DXY-2.2-01032015-1024x441.png\" alt=\"DXY 2.2 01032015\" width=\"1024\" height=\"441\" /></a>\r\n\r\n&nbsp;\r\n\r\nThe purpose of this monthly chart is just to show that since the last high in 2002 to the lows in 2008 using a Fibonacci retracement we have just passed the 50% retracement level of that move at 94.60. The DXY closed last week just above a nice round number of 95.00 at 95.26 and the 61.8% retracement above 100.00 at 100.31 looms.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/DXY-2.3-01032015.png\"><img class=\"aligncenter size-large wp-image-5386\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/DXY-2.3-01032015-1024x447.png\" alt=\"DXY 2.3 01032015\" width=\"1024\" height=\"447\" /></a>\r\n\r\n&nbsp;\r\n\r\nThe purpose of this chart is just to drill down a little closer using a daily chart. It is very clear to see what an orderly move has taken place. It powers but it’s not explosive. Every substantial move higher has a period of consolidation in what is a bullish flag formation. I have drawn three bull flags on the move since July last year.\r\n\r\nThere is nothing FUNDAMENTAL in my mind that would stop this move continuing unless Janet Yellen at the FED decided to change U.S. Monetary Policy all of a sudden. The chances of that coming out of the “crash” are remote and in itself would probably send the U.S. economy into recession.\r\n\r\nWhat does it all mean for Forex traders?\r\n\r\nFor months as a FUNDAMENTAL trader 80% of my trades within the PREMIUM SERVICE have all been slanted towards USD strength using Central Bank divergences to further support my trade set-ups.\r\n\r\nI wrote the section below earlier in the blog…\r\n\r\n<strong><span style=\"color: #0000ff;\"><em>I am a USD bull, for reasons such as: -</em></span></strong>\r\n<ul>\r\n	<li><strong><span style=\"color: #0000ff;\"><em>Central Bank divergences.</em></span></strong></li>\r\n	<li><strong><span style=\"color: #0000ff;\"><em>S&amp;P approaching the 261.8% fib extension (pullback imminent in my opinion).</em></span></strong></li>\r\n	<li><strong><span style=\"color: #0000ff;\"><em>JPY divergence.</em></span></strong></li>\r\n	<li><strong><span style=\"color: #0000ff;\"><em>GOLD struggling to keep above the $1,200.00 level.</em></span></strong></li>\r\n	<li><strong><span style=\"color: #0000ff;\"><em>OIL, although extremely choppy I do think is moving lower. Maybe not to $20 Citi forecast but at least a re-test of the recent lows and maybe a dip into the $30’s.</em></span></strong></li>\r\n</ul>\r\n<strong><span style=\"color: #0000ff;\"><em>Finally, the DXY has broken higher above a 29-year trend line and has extremely bullish looking chart formations. The Central Bank divergences between the FED and ECB are enough to keep me bullish the USD.</em></span></strong>\r\n\r\nWith all this said what are the trades that I am looking at?\r\n\r\nFirstly, if I truly believe that we are looking at DXY 100.00, and I think that this is a real possibility, so where does this move leave the USD majors?\r\n\r\nIn the past three years of writing THE WEEKLY FX DRIVE THRU I have talked a lot about inter-currency and inter-market correlations and divergences. These really do matter and are an important part of trading.\r\n\r\nPersonally the DXY move from the lows of around 70.00 to the present day of 95.00 has been orderly in my opinion and not explosive. (A good example of an explosive move would be parts of the BOJ/Abe/Kuroda QE move in the USD/JPY). To a large extent the easy move has been done. Markets see big round numbers as a tractor beam sucking them in towards it. I have no doubt that 100.00 has several algorithmic traders wetting their pants with excitement.\r\n\r\nWe may get an explosive move that is spurred on by the FED rate hike in June. I know, the markets are grabbing hard and hugging their security blankets really hard, but mother Janet may whip them away and push up rates only very modestly, but that would be enough in my opinion.\r\n\r\nThe point that I am going to make here is that with an explosive move I believe that all relationships / correlations whether via currency or markets will be 100% in sync.\r\n\r\nIf the Fed raises in the Autumn (Fall), we would see the continuation of the orderly move higher. This would allow for divergence to continue between currencies and markets. At the end of the day how we get there is irrelevant how we trade to get there is of greater importance.\r\n\r\nFirstly with a USD index to 100.00, you have to be bullish the USD.\r\n\r\nThe best trades are in my opinion based around Central Bank divergence. The most obvious being: -\r\n<p style=\"text-align: center;\"><strong>ECB versus FED – EUR/USD short</strong>\r\n<strong>RBA versus FED – AUD/USD short</strong>\r\n<strong>FED versus SNB – USD/CHF long</strong>\r\n<strong>BOE versus RBA – GBP/AUD long</strong></p>\r\nWhy complicate matters too much:\r\n\r\nBOJ - There are heavy rumours that the BOJ QE program is ending.\r\nRBNZ – They claim neutrality… hmmmn let’s run with that one!!\r\nBOC – Poloz says recent rate hike is a one off… yeah right!!\r\n\r\nThere are 4 pairs above that represent trading with FUNDAMENTALS based off the back of Central Bank policies. Are you a big enough trader to take on the $$$ held by a Central Bank - of course not.\r\n\r\nThe 4 trades above are as stated based around Central Bank divergence, I am ignoring all the other noises…. keeping it dead simple for positional traders. Remember pairs do not move in straight lines. Look at longer-term charts to give you the overview of the moves, try if you can to ignore the charts under at least 240 minutes (4 hours).\r\n\r\nWhat are the entry levels, targets and stop loss levels?\r\n\r\nTo get these you need to be a subscriber to the PREMIUM SERVICE (see section 3 of this blog for details).\r\n\r\nToday, the PREMIUM SERVICE is LIVE in 3 of the 4 trading pairs highlighted above, but it is very much at the embryonic stages and it’s certainly not too late to establish a position. I am looking to re-enter the EUR/USD, after taking a small intra-day profit on Friday. For subscribers this trade and others are highlighted in section 4.4. of this blog.\r\n\r\nThe one thing about the Forex market is that there are always opportunities. You need to be patient at all times. As a predominantly position style FUNDAMENTAL TRADER I can spend a week or two with trades losing money waiting for my move to establish. Currencies never move in a straight line. Even though I have outlined trades based upon USD strength there will be days when you trade on USD weakness within a USD strength longer-term move. This is what, in my opinion, make Forex trading so interesting.\r\n\r\n&nbsp;\r\n<ol start=\"3\">\r\n	<li><strong><span style=\"text-decoration: underline;\"> THE PREMIUM SERVICE:</span></strong><strong><span style=\"text-decoration: underline;\">SUMMARY OF PERFORMANCE:</span></strong></li>\r\n</ol>\r\n<span style=\"text-decoration: underline;\">3.1 OVERVIEW:</span>\r\n\r\nFor new readers who may not be aware, I refer to the PREMIUM SERVICE quite a lot in this blog and for more details about what it is, and, how much it costs, you will need to go the welcome page of <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a> At the top of the page there are three drop down menus: PREMIUM SERVICE, PROMOTIONS (if available), SIGN-UP and DISCLAIMER. Further details and how to join are all contained there. You will need at PayPal account to subscribe.\r\n\r\n<span style=\"text-decoration: underline;\">3.2 PREMIUM SERVICE – SUBSCRIPTION COSTS:</span>\r\n\r\nFull details regarding the PREMIUM SERVICE can be found on my website <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a>\r\n\r\nOn the welcome page there are a series of TABS at the top of the page that provide a summary of what the PREMIUM SERVICE is about and what you receive for your subscription.\r\n\r\nTHE 2015 SUBSCRIPTION BREAKDOWN IS AS FOLLOWS: -\r\n\r\n10 weeks - $200.00\r\n20 weeks - $350.00\r\n40 weeks - $500.00\r\n\r\n<span style=\"text-decoration: underline;\">3.3.1. TRADING REVIEW OF ACTIVITY and SUMMARY OF PERFORMANCE:</span>\r\n\r\nI have been struggling with trades quite a lot this year in comparison to last year. I am not quite sure what to attribute this to; was it: -\r\n<ul>\r\n	<li>The SNB peg removal that hit me hard with my FXCM GBP/CHF trade.</li>\r\n	<li>The following week we had a day of three squeezes that rocked me as I was caught the wrong way.</li>\r\n	<li>The week after there was another monster squeeze, which again caught me the wrong way.</li>\r\n	<li>Then this week I was suckered like a “lamb to the slaughter“ on Yellen’s testimony. I read something as USD bullish it was in fact bearish.</li>\r\n</ul>\r\nI am not absolutely certain what it is. The PREMIUM SERVICE single lot trading account is healthy. My main trading account is lower due to the GBP/CHF trade and a couple of trades with greater position sizes that were closed in the squeezes detailed above.\r\n\r\nThe strange thing with regards to my trading patterns this year is that I am not making money from RADAR TRADES. This could be my source of some of my uncertainty with trading at the moment. Last year RADAR TRADES provided over $34,670.00 (STANDARD LOTS) in income from 175 trades (Average income per trade $198.11). This year so far RADAR TRADES have contributed a loss of $2,490.00 (STANDARD LOTS) from 39 trades (Average Loss per trade $63.84). I am not hanging around too much in the losing trades if you look at the profit / loss it’s about a ratio of 3:1 with last years profits versus this years losses so my decision making on when to take a loss is about normal.\r\n\r\nI love a challenge, so I will be getting on top of this in the coming weeks.\r\n\r\nLast week, I only closed a total of 8 trades; I carried forward my commodity cross-rate pairs, my standard commodity currency pairs and my CHF trades from last week into this coming week. In total 12 trades were carried forward. The trades closed this week were a net loss and this has been reflected in the totals on the excel spreadsheets below in section 3.3.3.\r\n\r\nI am very comfortable with all trades even though the commodity crosses have not yet moved into profit. They are close to it given their volatile nature and the daily ATR (Average True Range). They normally play catch up after the majors have made their initial move. I had hoped that this would have occurred Thursday / Friday last week but alas not yet. I seem to write this a great deal at the moment being both positive and patient is really important.\r\n\r\nI head into this week carrying forward 12 LIVE trades from last week and, as requested by one of my subscribers I will recode the FLASH TRADES that were entered into on Yellen’s testimony that are commodity cross rate pairs to FUNDAMENTAL TRADES. This will be done via email and or twitter. It makes sense to do this for your journals, however for me I have all my commodity cross rate pair set-ups placed with a separate broker away from my main accounts so that I can manage the returns and performance with this type of trade instantaneously.\r\n\r\nYear to date the PREMIUM SERVICE trades, had you just traded single-lot trades would have given you profits from the 113 completed trades so far in 2015 as follows: -\r\n<p style=\"text-align: center;\"><strong>MICRO LOT TRADERS:                 $218.20</strong>\r\n<strong> MINI LOT TRADERS:                      $2,182.00</strong>\r\n<strong> STANDARD LOT TRADERS:         $21,820.00</strong></p>\r\nThe usual summary charts detailing the week and year to date performances, are below: -\r\n\r\n<span style=\"text-decoration: underline;\">3.3.2. – PREMIUM SERVICE PROFIT/LOSS RATIOS:</span>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/PROFIT-LOSS-RATIOS-01032015.png\"><img class=\"aligncenter size-full wp-image-5371\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/PROFIT-LOSS-RATIOS-01032015.png\" alt=\"PROFIT-LOSS RATIOS 01032015\" width=\"422\" height=\"601\" /></a>\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">3.3.3. – PREMIUM SERVICE RISK/REWARD ANALYSIS:</span>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/RISK-REWARD-01032015.png\"><img class=\"aligncenter size-full wp-image-5372\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/RISK-REWARD-01032015.png\" alt=\"RISK-REWARD 01032015\" width=\"432\" height=\"558\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">3.3.4. – PREMIUM SERVICE FLASH TRADES PERFORMANCE FEBRUARY:</span>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/FLASH1-01032015.png\"><img class=\"aligncenter size-full wp-image-5375\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/FLASH1-01032015.png\" alt=\"FLASH1 01032015\" width=\"495\" height=\"529\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/FLASH2-01032015.png\"><img class=\"aligncenter size-full wp-image-5376\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/FLASH2-01032015.png\" alt=\"FLASH2 01032015\" width=\"504\" height=\"528\" /></a>\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">3.3.5. – PREMIUM SERVICE FLASH TRADES PERFORMANCE YTD:</span>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/FLASH-YTD-FEB-2015.png\"><img class=\"aligncenter size-full wp-image-5377\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/FLASH-YTD-FEB-2015.png\" alt=\"FLASH YTD FEB 2015\" width=\"348\" height=\"380\" /></a>\r\n\r\n<span style=\"text-decoration: underline;\">3.3.6. – PREMIUM SERVICE RADAR TRADES PERFORMANCE FEBRUARY:</span>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/RADAR1-01032015.png\"><img class=\"aligncenter size-full wp-image-5378\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/RADAR1-01032015.png\" alt=\"RADAR1 01032015\" width=\"557\" height=\"483\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/RADAR2-01032015.png\"><img class=\"aligncenter size-full wp-image-5379\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/RADAR2-01032015.png\" alt=\"RADAR2 01032015\" width=\"557\" height=\"489\" /></a>\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">3.3.7. – PREMIUM SERVICE RADAR TRADES PERFORMANCE YTD:</span>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/RADAR2-01032015.png\"><img class=\"aligncenter size-full wp-image-5379\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/RADAR2-01032015.png\" alt=\"RADAR2 01032015\" width=\"557\" height=\"489\" /></a>\r\n\r\n<span style=\"text-decoration: underline;\">3.3.8. – PREMIUM SERVICE FUNDAMENTAL TRADES PERFORMANCE FEBRUARY</span>:\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/FUNDAMENTAL-01032015.png\"><img class=\"aligncenter size-full wp-image-5381\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/FUNDAMENTAL-01032015.png\" alt=\"FUNDAMENTAL 01032015\" width=\"511\" height=\"521\" /></a>\r\n\r\n<span style=\"text-decoration: underline;\">3.3.9. – PREMIUM SERVICE FUNDAMENTAL TRADES PERFORMANCE YTD:</span>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/FUNDAMENTAL-YTD-FEB2015.png\"><img class=\"aligncenter size-full wp-image-5382\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/FUNDAMENTAL-YTD-FEB2015.png\" alt=\"FUNDAMENTAL YTD FEB2015\" width=\"353\" height=\"373\" /></a>\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">3.3.10. – PREMIUM SERVICE OVERALL TRADE SUMMARY MONTH &amp; YTD:</span>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/PREM-SERV-PROFITS1-01032015.png\"><img class=\"aligncenter size-full wp-image-5373\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/PREM-SERV-PROFITS1-01032015.png\" alt=\"PREM SERV PROFITS1 01032015\" width=\"459\" height=\"441\" /></a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/PREM-SERV-PROFITS1-01032015.png\"><img class=\"aligncenter size-full wp-image-5373\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/PREM-SERV-PROFITS1-01032015.png\" alt=\"PREM SERV PROFITS1 01032015\" width=\"459\" height=\"441\" /></a>\r\n<ol start=\"4\">\r\n	<li><strong><span style=\"text-decoration: underline;\"> PREMIUM SERVICE SUBSCRIBER EXCLUSIVE CONTENT:</span></strong></li>\r\n</ol>\r\n(Section 4 is exclusive PREMIUM SERVICE content only available to PREMIUM SERVICE subscribers)\r\n\r\n<span style=\"text-decoration: underline;\">4.1 EDUCATION:\r\n</span>(The full list of all items and more from this section can be found in the PREMIUM SERVICE website in the Trade Essential area under the EDUCATION tab.)\r\n\r\n<span style=\"text-decoration: underline;\">4.2 THE PREMIUM SERVICE - EXISTING LIVE TRADES:</span>\r\n\r\n<span style=\"text-decoration: underline;\">4.3 THE PREMIUM SERVICE – EXISTING LIMIT ORDERS:</span>\r\n\r\n<span style=\"text-decoration: underline;\">4.4 POTENTIAL TRADES - WHAT CHARTS AM I LOOKING AT?</span>\r\n\r\n<span style=\"text-decoration: underline;\">4.5 MAJOR TRADING PAIRS WITH LONGER-TERM TRENDS MATCHING:</span>\r\n\r\n<span style=\"text-decoration: underline;\">4.6 THE KEY SUPPORT &amp; RESISTANCE LEVELS WITH THE USD MAJORS</span><strong><span style=\"text-decoration: underline;\">:\r\n</span></strong>(This content is now for PREMIUM SERVICE subscribers only, it allows me to refer to existing and future set-ups that form part of the PREMIUM SERVICE subscription)\r\n\r\n&nbsp;\r\n<ol start=\"5\">\r\n	<li><strong><span style=\"text-decoration: underline;\"> THE WEEK AHEAD: -\r\nWHAT AM I THINKING &amp; WHAT AM I LOOKING AT?</span></strong></li>\r\n</ol>\r\n<span style=\"text-decoration: underline;\">5.1 MAJOR FOREX NEWS THIS WEEK THAT INTERESTS ME:</span>\r\n\r\nSUNDAY: CNY – HSBC Final Manufacturing PMi.\r\n\r\nMONDAY: GBP – Manufacturing PMi.\r\nMONDAY: USD – ISM Manufacturing PMi.\r\nMONDAY: AUD – Building Approvals &amp; RBA Rate Statement,\r\n\r\nTUESDAY: GBP – Construction PMi.\r\nTUESDAY: CAD – GDP.\r\nTUESDAY: NZD – GDT Price Index.\r\nTUESDAY: AUD – GDP.\r\n\r\nWEDNESDAY: GBP – Services PMi.\r\nWEDNESDAY: USD – ADP Non-Farm Employment Change.\r\nWEDNESDAY: CAD – BOC Rate Statement.\r\nWEDNESDAY: AUD – Retail Sales &amp; Trade Balance.\r\n\r\nTHURSDAY: GBP – Interest Rate.\r\nTHURSDAY: EUR – Interest Rate and Draghi Press Conference.\r\nTHURSDAY: CAD – IVEY PMi.\r\n\r\nFRIDAY: CAD – Building Permits &amp; Trade Balance.\r\nFRIDAY: USD – Non-Farm Employment Change and Trade Balance.\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">5.2 FINAL THOUGHTS / CLOSING COMMENTS:</span>\r\n\r\nIt is a whopper of a week this week for news. There is a great deal of market moving news items, we should be ready for continued “chop”, but… this is the week we may break the ranges. Many of the currency pairs have been somewhat range bound recently, even though the limits of the ranges may have extended a little, we are still very much trading inside ranges. With all the front line news this week we have the chance to really break out with some big moves.\r\n\r\nThe pick of the news has to be: -\r\n\r\n<strong>RBA - Rate Statement</strong>\r\n<strong>CAD - Rate Statement</strong>\r\n<strong>ECB - Press Conference</strong>\r\n<strong>USD - Non-Farm Payrolls</strong>\r\n\r\nAs always, there will be trades to trade and there will be some great opportunities, please trade in line with your RISK MANAGEMENT parameters from your TRADING PLAN. If you do not have a TRADE PLAN, in my opinion, you should, as this will help you with consistency.\r\n<p style=\"text-align: center;\"><strong>Consistency = longevity in trading and that is a critical goal.\r\nIT IS THE KEY MEASUREMENT</strong></p>\r\nBefore you enter a trade work out the risk, price it in $$$. Place your stop accordingly. PREMIUM SERVICE subscribers have a full library of information on RISK MANAGEMENT, RISK TOLERANCES and POSITION SIZING etc. available for reference 24x7.\r\n\r\nTake care.\r\n\r\nScott Pickering\r\nThe Pip Accumulator\r\nSunday March 1st 2015\r\n\r\nEMAIL / FOLLOW ME AT:\r\ndrivethru@weeklyfxdrivethru.com\r\nTwitter: @pipaccumulator\r\n<span style=\"line-height: 1.5;\">Google+/scottpickering\r\n</span>Tumblr: thepipaccumulator\r\n\r\n<strong><span style=\"text-decoration: underline;\">DISCLAIMER &amp; OTHER DATA:</span></strong>\r\n\r\n<span style=\"text-decoration: underline;\">SUBSCRIBING TO THE “FREE VERSION” OF THE WEEKLY FX DRIVE THRU:</span>\r\n\r\nIf you like what you have almost completed reading and want to have THE WEEKLY FX DRIVE THRU delivered direct to your email inbox next week, here is what you do: -\r\n\r\nGo to my website: - <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a>\r\n\r\nOn the right hand side of the welcome page under my bio “about me” there is a blue box titled SUBSCRIBE TO FREE NEWSLETTER, click on profile and add your email address. It is as simple and straightforward as that.\r\n\r\nI do NOT sell your email data to anyone…do not worry...one less thing to worry about!\r\n\r\n<span style=\"text-decoration: underline;\">THIRD PARTY COMPANIES WITH BANNERS ON MY WEBSITE:</span>\r\n\r\nThere are a small number of companies with banners on my website. In the interests of full disclosure I have a reciprocal business arrangement with these companies to promote their products.\r\n\r\nUnlike many of my competitors, I use the products and services provided by these companies. I will NOT allow any third party on my website unless I am 100% happy that they can back up their promise.\r\n\r\nBy virtue of the fact, I work with these companies almost daily. I am more than confident to have them advertise on my website.\r\n\r\nAny reader who buys products or services from any advertiser via a banner on my website, <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a> will automatically have my help and assistance with any issues that they may have with my partnered advertisers.\r\n\r\n<span style=\"text-decoration: underline;\">TRADING &amp; PERFORMANCES DISCLAIMER:</span>\r\n\r\nFLASH, RADAR and FUNDAMENTAL trade set-ups, “Tweets” and “Trade ideas” that are posted in my blogs or on Twitter are trades and set-ups that interest me. They are provided for training and informational purposes only and should not be interpreted as an offer, solicitation or recommendation of any specific security or investment strategy. Past performance is not indicative of future results. Trading Forex carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to trade any such leveraged products you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with trading on margin, and seek advice from an independent financial adviser if you have any doubts.','DON’T BE CRAZY AND IGNORE USD STRENGTH… THE USD RALLY GOES ON','','inherit','open','closed','','5397-revision-v1','','','2015-02-28 14:07:51','2015-02-28 19:07:51','',5397,'https://weeklyfxdrivethru.com/5397-revision-v1/',0,'revision','',0),(5401,1,'2015-02-28 14:10:48','2015-02-28 19:10:48','<h3 style=\"text-align: center;\"><strong>THE PREMIUM SERVICE\r\n</strong><strong>(The Home of Single-Lot $$$$ Trading)</strong></h3>\r\n<h4><strong>DATE: 01.03.2015\r\nREFERENCE: #141\r\n</strong><strong>BLOG: THE WEEKLY FX DRIVE THRU</strong></h4>\r\n<ol>\r\n	<li><strong><span style=\"text-decoration: underline;\"> INTRODUCTION / LOOKING BACK OVER THE PAST WEEK:</span></strong></li>\r\n</ol>\r\nThe Greek Tragedy played out early in the week with the EUROGROUP doing what they had to do by accepting the Greek governments proposals for an extension of 4 months to the existing credit line. Make no mistake, like a lot of people, I am fully expecting the GREEK BAILOUT ACT III to start around June this year.\r\n\r\nI was suckered on Tuesday with Janet Yellens’s testimony and entered en mass nearly all my favourite commodity cross-rates long… and… I am still in them. For the past 48 hours they have in fact just moved sideways, there has not been too much movement. I have all my commodity cross-rate trades in a separate account so that they do not distract me from any other trades on my main screen. So all I do is look at them once or twice a day and look at the net $$$ position. It has not really changed much since Wednesday’s close of business.\r\n\r\nThe other big news of the week was the U.S.$ index (DXY) breaking out on Thursday on the back of good CPi data.\r\n\r\nThese markets take no prisoners at all. In the early European session the DXY hit trend line support, I have no doubt that traders were lining up to be dollar bears as it approached support. After the data release it leaped up and didn’t just hit trend line resistance it broke through. I can imagine the $ bears were left swearing and cursing at their terminals. On Thursday we closed above the breakout level and held.\r\n\r\nThen on Friday, we had great GDP data which consolidated the move higher from which we broke lower on really poor housing and Chicago PMi numbers, only to bounce of the trend line and move higher. If the DXY is rallying on poor data this is something to hold on to and remember. This in itself for some traders is enough to keep them a USD bull.\r\n\r\nThe weekly DXY close is shown on the chart below.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/USD-DXY-SECTION-1-in-BLOG-01032015.png\"><img class=\"aligncenter size-large wp-image-5383\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/USD-DXY-SECTION-1-in-BLOG-01032015-1024x442.png\" alt=\"USD DXY SECTION 1 in BLOG 01032015\" width=\"1024\" height=\"442\" /></a>\r\n\r\n&nbsp;\r\n\r\nI am a USD bull, for reasons such as: -\r\n<ul>\r\n	<li>Central Bank divergences.</li>\r\n	<li>S&amp;P approaching the 261.8% fib extension (pullback imminent in my opinion).</li>\r\n	<li>JPY divergence.</li>\r\n	<li>GOLD struggling to keep above the $1,200.00 level.</li>\r\n	<li>OIL, although extremely choppy I do think is moving lower. Maybe not to $20 Citi forecast but at least a re-test of the recent lows and maybe a dip into the $30’s.</li>\r\n	<li>Finally, the DXY has broken higher above a 29-year trend line and has extremely bullish looking chart formations. The Central Bank divergences between the FED and ECB are enough to keep me bullish the USD.</li>\r\n</ul>\r\nThe markets are very range bound and will continue, in my opinion, to consolidate for a little while longer. The USD breakout is hard for market makers to understand. For basically a lifetime, they have been trading with a depressed weak currency and, more recently a safety blanket provided by the FED of keeping the markets heavily liquidated (QE) with low interest rates forcing investors to buy risk assets such as stocks to obtain a return. Both have now gone. We are in a transitory (love that word… if it’s good enough for Yellen and Draghi it’s good enough for me!) period.\r\n\r\nThis period of transition from QE (Quantitative Easing) to raising interest rates seems at times, when listening to analysts and guests on CNBC and Bloomberg, to be a period of dis-belief, it is weird. The FED will raise rates. This is a fact. The stock markets are supposed to be future pricing mechanisms, they know that it’s (rate rises) coming they just don\'t want to believe it as it will be the end of an era. So, the equity markets are really squeezing every last drop of juice out of the lemon before the inevitable hits.\r\n\r\nI haven’t mentioned GREECE yet. No doubt next week they will announce that after receiving the bailout/loan extension they will want to fully negotiate their bailout deal as part of their election-winning mandate for the Greek people. As I wrote last week, the EUROGROUP v GREECE … IT’S NOT OVER YET. In my opinion this has NOT EVEN STARTED!! Happy fun days are ahead.\r\n\r\nLike I said last week, I believe that we are going to have a period with a trending market for a little while as all the correlations should hopefully fall into place and line up correctly as equities fall back, which I believe they will do very soon.\r\n\r\nAs always, patience is the key.\r\n\r\n&nbsp;\r\n<ol start=\"2\">\r\n	<li><strong><span style=\"text-decoration: underline;\"> WHAT’S ON MY MIND: -\r\nTHE FUNDAMENTAL TRADERS OVERVIEW:</span></strong></li>\r\n</ol>\r\n<p style=\"text-align: center;\"><strong>DON’T BE CRAZY AND IGNORE USD STRENGTH…\r\n</strong><strong>THE USD RALLY GOES ON</strong></p>\r\nI referenced a few comments earlier with regards to the USD. I now want to expand my earlier comments with a few more thoughts.\r\n\r\nThere is something really building with the USD index (DXY). I have below 3 charts of the USD index (DXY). As usual I have kept the charts as clear and as simple as possible to follow.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/DXY-2.1-01032015.png\"><img class=\"aligncenter size-large wp-image-5384\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/DXY-2.1-01032015-1024x454.png\" alt=\"DXY 2.1 01032015\" width=\"1024\" height=\"454\" /></a>\r\n\r\n&nbsp;\r\n\r\nThe monthly chart above is very straightforward. It just shows the 29-year trend line that was broken in July 2014. Ever since that date the USD has been on the tear. One could argue that the sleeping giant has now awoken.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/DXY-2.2-01032015.png\"><img class=\"aligncenter size-large wp-image-5385\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/DXY-2.2-01032015-1024x441.png\" alt=\"DXY 2.2 01032015\" width=\"1024\" height=\"441\" /></a>\r\n\r\n&nbsp;\r\n\r\nThe purpose of this monthly chart is just to show that since the last high in 2002 to the lows in 2008 using a Fibonacci retracement we have just passed the 50% retracement level of that move at 94.60. The DXY closed last week just above a nice round number of 95.00 at 95.26 and the 61.8% retracement above 100.00 at 100.31 looms.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/DXY-2.3-01032015.png\"><img class=\"aligncenter size-large wp-image-5386\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/DXY-2.3-01032015-1024x447.png\" alt=\"DXY 2.3 01032015\" width=\"1024\" height=\"447\" /></a>\r\n\r\n&nbsp;\r\n\r\nThe purpose of this chart is just to drill down a little closer using a daily chart. It is very clear to see what an orderly move has taken place. It powers but it’s not explosive. Every substantial move higher has a period of consolidation in what is a bullish flag formation. I have drawn three bull flags on the move since July last year.\r\n\r\nThere is nothing FUNDAMENTAL in my mind that would stop this move continuing unless Janet Yellen at the FED decided to change U.S. Monetary Policy all of a sudden. The chances of that coming out of the “crash” are remote and in itself would probably send the U.S. economy into recession.\r\n\r\nWhat does it all mean for Forex traders?\r\n\r\nFor months as a FUNDAMENTAL trader 80% of my trades within the PREMIUM SERVICE have all been slanted towards USD strength using Central Bank divergences to further support my trade set-ups.\r\n\r\nI wrote the section below earlier in the blog…\r\n\r\n<strong><span style=\"color: #0000ff;\"><em>I am a USD bull, for reasons such as: -</em></span></strong>\r\n<ul>\r\n	<li><strong><span style=\"color: #0000ff;\"><em>Central Bank divergences.</em></span></strong></li>\r\n	<li><strong><span style=\"color: #0000ff;\"><em>S&amp;P approaching the 261.8% fib extension (pullback imminent in my opinion).</em></span></strong></li>\r\n	<li><strong><span style=\"color: #0000ff;\"><em>JPY divergence.</em></span></strong></li>\r\n	<li><strong><span style=\"color: #0000ff;\"><em>GOLD struggling to keep above the $1,200.00 level.</em></span></strong></li>\r\n	<li><strong><span style=\"color: #0000ff;\"><em>OIL, although extremely choppy I do think is moving lower. Maybe not to $20 Citi forecast but at least a re-test of the recent lows and maybe a dip into the $30’s.</em></span></strong></li>\r\n</ul>\r\n<strong><span style=\"color: #0000ff;\"><em>Finally, the DXY has broken higher above a 29-year trend line and has extremely bullish looking chart formations. The Central Bank divergences between the FED and ECB are enough to keep me bullish the USD.</em></span></strong>\r\n\r\nWith all this said what are the trades that I am looking at?\r\n\r\nFirstly, if I truly believe that we are looking at DXY 100.00, and I think that this is a real possibility, so where does this move leave the USD majors?\r\n\r\nIn the past three years of writing THE WEEKLY FX DRIVE THRU I have talked a lot about inter-currency and inter-market correlations and divergences. These really do matter and are an important part of trading.\r\n\r\nPersonally the DXY move from the lows of around 70.00 to the present day of 95.00 has been orderly in my opinion and not explosive. (A good example of an explosive move would be parts of the BOJ/Abe/Kuroda QE move in the USD/JPY). To a large extent the easy move has been done. Markets see big round numbers as a tractor beam sucking them in towards it. I have no doubt that 100.00 has several algorithmic traders wetting their pants with excitement.\r\n\r\nWe may get an explosive move that is spurred on by the FED rate hike in June. I know, the markets are grabbing hard and hugging their security blankets really hard, but mother Janet may whip them away and push up rates only very modestly, but that would be enough in my opinion.\r\n\r\nThe point that I am going to make here is that with an explosive move I believe that all relationships / correlations whether via currency or markets will be 100% in sync.\r\n\r\nIf the Fed raises in the Autumn (Fall), we would see the continuation of the orderly move higher. This would allow for divergence to continue between currencies and markets. At the end of the day how we get there is irrelevant how we trade to get there is of greater importance.\r\n\r\nFirstly with a USD index to 100.00, you have to be bullish the USD.\r\n\r\nThe best trades are in my opinion based around Central Bank divergence. The most obvious being: -\r\n<p style=\"text-align: center;\"><strong>ECB versus FED – EUR/USD short</strong>\r\n<strong>RBA versus FED – AUD/USD short</strong>\r\n<strong>FED versus SNB – USD/CHF long</strong>\r\n<strong>BOE versus RBA – GBP/AUD long</strong></p>\r\nWhy complicate matters too much:\r\n\r\nBOJ - There are heavy rumours that the BOJ QE program is ending.\r\nRBNZ – They claim neutrality… hmmmn let’s run with that one!!\r\nBOC – Poloz says recent rate hike is a one off… yeah right!!\r\n\r\nThere are 4 pairs above that represent trading with FUNDAMENTALS based off the back of Central Bank policies. Are you a big enough trader to take on the $$$ held by a Central Bank - of course not.\r\n\r\nThe 4 trades above are as stated based around Central Bank divergence, I am ignoring all the other noises…. keeping it dead simple for positional traders. Remember pairs do not move in straight lines. Look at longer-term charts to give you the overview of the moves, try if you can to ignore the charts under at least 240 minutes (4 hours).\r\n\r\nWhat are the entry levels, targets and stop loss levels?\r\n\r\nTo get these you need to be a subscriber to the PREMIUM SERVICE (see section 3 of this blog for details).\r\n\r\nToday, the PREMIUM SERVICE is LIVE in 3 of the 4 trading pairs highlighted above, but it is very much at the embryonic stages and it’s certainly not too late to establish a position. I am looking to re-enter the EUR/USD, after taking a small intra-day profit on Friday. For subscribers this trade and others are highlighted in section 4.4. of this blog.\r\n\r\nThe one thing about the Forex market is that there are always opportunities. You need to be patient at all times. As a predominantly position style FUNDAMENTAL TRADER I can spend a week or two with trades losing money waiting for my move to establish. Currencies never move in a straight line. Even though I have outlined trades based upon USD strength there will be days when you trade on USD weakness within a USD strength longer-term move. This is what, in my opinion, make Forex trading so interesting.\r\n\r\n&nbsp;\r\n<ol start=\"3\">\r\n	<li><strong><span style=\"text-decoration: underline;\"> THE PREMIUM SERVICE:</span></strong><strong><span style=\"text-decoration: underline;\">SUMMARY OF PERFORMANCE:</span></strong></li>\r\n</ol>\r\n<span style=\"text-decoration: underline;\">3.1 OVERVIEW:</span>\r\n\r\nFor new readers who may not be aware, I refer to the PREMIUM SERVICE quite a lot in this blog and for more details about what it is, and, how much it costs, you will need to go the welcome page of <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a> At the top of the page there are three drop down menus: PREMIUM SERVICE, PROMOTIONS (if available), SIGN-UP and DISCLAIMER. Further details and how to join are all contained there. You will need at PayPal account to subscribe.\r\n\r\n<span style=\"text-decoration: underline;\">3.2 PREMIUM SERVICE – SUBSCRIPTION COSTS:</span>\r\n\r\nFull details regarding the PREMIUM SERVICE can be found on my website <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a>\r\n\r\nOn the welcome page there are a series of TABS at the top of the page that provide a summary of what the PREMIUM SERVICE is about and what you receive for your subscription.\r\n\r\nTHE 2015 SUBSCRIPTION BREAKDOWN IS AS FOLLOWS: -\r\n\r\n10 weeks - $200.00\r\n20 weeks - $350.00\r\n40 weeks - $500.00\r\n\r\n<span style=\"text-decoration: underline;\">3.3.1. TRADING REVIEW OF ACTIVITY and SUMMARY OF PERFORMANCE:</span>\r\n\r\nI have been struggling with trades quite a lot this year in comparison to last year. I am not quite sure what to attribute this to; was it: -\r\n<ul>\r\n	<li>The SNB peg removal that hit me hard with my FXCM GBP/CHF trade.</li>\r\n	<li>The following week we had a day of three squeezes that rocked me as I was caught the wrong way.</li>\r\n	<li>The week after there was another monster squeeze, which again caught me the wrong way.</li>\r\n	<li>Then this week I was suckered like a “lamb to the slaughter“ on Yellen’s testimony. I read something as USD bullish it was in fact bearish.</li>\r\n</ul>\r\nI am not absolutely certain what it is. The PREMIUM SERVICE single lot trading account is healthy. My main trading account is lower due to the GBP/CHF trade and a couple of trades with greater position sizes that were closed in the squeezes detailed above.\r\n\r\nThe strange thing with regards to my trading patterns this year is that I am not making money from RADAR TRADES. This could be my source of some of my uncertainty with trading at the moment. Last year RADAR TRADES provided over $34,670.00 (STANDARD LOTS) in income from 175 trades (Average income per trade $198.11). This year so far RADAR TRADES have contributed a loss of $2,490.00 (STANDARD LOTS) from 39 trades (Average Loss per trade $63.84). I am not hanging around too much in the losing trades if you look at the profit / loss it’s about a ratio of 3:1 with last years profits versus this years losses so my decision making on when to take a loss is about normal.\r\n\r\nI love a challenge, so I will be getting on top of this in the coming weeks.\r\n\r\nLast week, I only closed a total of 8 trades; I carried forward my commodity cross-rate pairs, my standard commodity currency pairs and my CHF trades from last week into this coming week. In total 12 trades were carried forward. The trades closed this week were a net loss and this has been reflected in the totals on the excel spreadsheets below in section 3.3.3.\r\n\r\nI am very comfortable with all trades even though the commodity crosses have not yet moved into profit. They are close to it given their volatile nature and the daily ATR (Average True Range). They normally play catch up after the majors have made their initial move. I had hoped that this would have occurred Thursday / Friday last week but alas not yet. I seem to write this a great deal at the moment being both positive and patient is really important.\r\n\r\nI head into this week carrying forward 12 LIVE trades from last week and, as requested by one of my subscribers I will recode the FLASH TRADES that were entered into on Yellen’s testimony that are commodity cross rate pairs to FUNDAMENTAL TRADES. This will be done via email and or twitter. It makes sense to do this for your journals, however for me I have all my commodity cross rate pair set-ups placed with a separate broker away from my main accounts so that I can manage the returns and performance with this type of trade instantaneously.\r\n\r\nYear to date the PREMIUM SERVICE trades, had you just traded single-lot trades would have given you profits from the 113 completed trades so far in 2015 as follows: -\r\n<p style=\"text-align: center;\"><strong>MICRO LOT TRADERS:                 $218.20</strong>\r\n<strong> MINI LOT TRADERS:                      $2,182.00</strong>\r\n<strong> STANDARD LOT TRADERS:         $21,820.00</strong></p>\r\nThe usual summary charts detailing the week and year to date performances, are below: -\r\n\r\n<span style=\"text-decoration: underline;\">3.3.2. – PREMIUM SERVICE PROFIT/LOSS RATIOS:</span>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/PROFIT-LOSS-RATIOS-01032015.png\"><img class=\"aligncenter size-full wp-image-5371\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/PROFIT-LOSS-RATIOS-01032015.png\" alt=\"PROFIT-LOSS RATIOS 01032015\" width=\"422\" height=\"601\" /></a>\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">3.3.3. – PREMIUM SERVICE RISK/REWARD ANALYSIS:</span>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/RISK-REWARD-01032015.png\"><img class=\"aligncenter size-full wp-image-5372\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/RISK-REWARD-01032015.png\" alt=\"RISK-REWARD 01032015\" width=\"432\" height=\"558\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">3.3.4. – PREMIUM SERVICE FLASH TRADES PERFORMANCE FEBRUARY:</span>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/FLASH1-01032015.png\"><img class=\"aligncenter size-full wp-image-5375\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/FLASH1-01032015.png\" alt=\"FLASH1 01032015\" width=\"495\" height=\"529\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/FLASH2-01032015.png\"><img class=\"aligncenter size-full wp-image-5376\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/FLASH2-01032015.png\" alt=\"FLASH2 01032015\" width=\"504\" height=\"528\" /></a>\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">3.3.5. – PREMIUM SERVICE FLASH TRADES PERFORMANCE YTD:</span>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/FLASH-YTD-FEB-2015.png\"><img class=\"aligncenter size-full wp-image-5377\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/FLASH-YTD-FEB-2015.png\" alt=\"FLASH YTD FEB 2015\" width=\"348\" height=\"380\" /></a>\r\n\r\n<span style=\"text-decoration: underline;\">3.3.6. – PREMIUM SERVICE RADAR TRADES PERFORMANCE FEBRUARY:</span>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/RADAR1-01032015.png\"><img class=\"aligncenter size-full wp-image-5378\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/RADAR1-01032015.png\" alt=\"RADAR1 01032015\" width=\"557\" height=\"483\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/RADAR2-01032015.png\"><img class=\"aligncenter size-full wp-image-5379\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/RADAR2-01032015.png\" alt=\"RADAR2 01032015\" width=\"557\" height=\"489\" /></a>\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">3.3.7. – PREMIUM SERVICE RADAR TRADES PERFORMANCE YTD:</span>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/RADAR-YTD-FEB2015.png\"><img class=\"aligncenter size-full wp-image-5380\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/RADAR-YTD-FEB2015.png\" alt=\"RADAR YTD FEB2015\" width=\"358\" height=\"367\" /></a>\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">3.3.8. – PREMIUM SERVICE FUNDAMENTAL TRADES PERFORMANCE FEBRUARY</span>:\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/FUNDAMENTAL-01032015.png\"><img class=\"aligncenter size-full wp-image-5381\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/FUNDAMENTAL-01032015.png\" alt=\"FUNDAMENTAL 01032015\" width=\"511\" height=\"521\" /></a>\r\n\r\n<span style=\"text-decoration: underline;\">3.3.9. – PREMIUM SERVICE FUNDAMENTAL TRADES PERFORMANCE YTD:</span>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/FUNDAMENTAL-YTD-FEB2015.png\"><img class=\"aligncenter size-full wp-image-5382\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/FUNDAMENTAL-YTD-FEB2015.png\" alt=\"FUNDAMENTAL YTD FEB2015\" width=\"353\" height=\"373\" /></a>\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">3.3.10. – PREMIUM SERVICE OVERALL TRADE SUMMARY MONTH &amp; YTD:</span>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/PREM-SERV-PROFITS1-01032015.png\"><img class=\"aligncenter size-full wp-image-5373\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/PREM-SERV-PROFITS1-01032015.png\" alt=\"PREM SERV PROFITS1 01032015\" width=\"459\" height=\"441\" /></a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/PREM-SERV-PROFITS1-01032015.png\"><img class=\"aligncenter size-full wp-image-5373\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/PREM-SERV-PROFITS1-01032015.png\" alt=\"PREM SERV PROFITS1 01032015\" width=\"459\" height=\"441\" /></a>\r\n<ol start=\"4\">\r\n	<li><strong><span style=\"text-decoration: underline;\"> PREMIUM SERVICE SUBSCRIBER EXCLUSIVE CONTENT:</span></strong></li>\r\n</ol>\r\n(Section 4 is exclusive PREMIUM SERVICE content only available to PREMIUM SERVICE subscribers)\r\n\r\n<span style=\"text-decoration: underline;\">4.1 EDUCATION:\r\n</span>(The full list of all items and more from this section can be found in the PREMIUM SERVICE website in the Trade Essential area under the EDUCATION tab.)\r\n\r\n<span style=\"text-decoration: underline;\">4.2 THE PREMIUM SERVICE - EXISTING LIVE TRADES:</span>\r\n\r\n<span style=\"text-decoration: underline;\">4.3 THE PREMIUM SERVICE – EXISTING LIMIT ORDERS:</span>\r\n\r\n<span style=\"text-decoration: underline;\">4.4 POTENTIAL TRADES - WHAT CHARTS AM I LOOKING AT?</span>\r\n\r\n<span style=\"text-decoration: underline;\">4.5 MAJOR TRADING PAIRS WITH LONGER-TERM TRENDS MATCHING:</span>\r\n\r\n<span style=\"text-decoration: underline;\">4.6 THE KEY SUPPORT &amp; RESISTANCE LEVELS WITH THE USD MAJORS</span><strong><span style=\"text-decoration: underline;\">:\r\n</span></strong>(This content is now for PREMIUM SERVICE subscribers only, it allows me to refer to existing and future set-ups that form part of the PREMIUM SERVICE subscription)\r\n\r\n&nbsp;\r\n<ol start=\"5\">\r\n	<li><strong><span style=\"text-decoration: underline;\"> THE WEEK AHEAD: -\r\nWHAT AM I THINKING &amp; WHAT AM I LOOKING AT?</span></strong></li>\r\n</ol>\r\n<span style=\"text-decoration: underline;\">5.1 MAJOR FOREX NEWS THIS WEEK THAT INTERESTS ME:</span>\r\n\r\nSUNDAY: CNY – HSBC Final Manufacturing PMi.\r\n\r\nMONDAY: GBP – Manufacturing PMi.\r\nMONDAY: USD – ISM Manufacturing PMi.\r\nMONDAY: AUD – Building Approvals &amp; RBA Rate Statement,\r\n\r\nTUESDAY: GBP – Construction PMi.\r\nTUESDAY: CAD – GDP.\r\nTUESDAY: NZD – GDT Price Index.\r\nTUESDAY: AUD – GDP.\r\n\r\nWEDNESDAY: GBP – Services PMi.\r\nWEDNESDAY: USD – ADP Non-Farm Employment Change.\r\nWEDNESDAY: CAD – BOC Rate Statement.\r\nWEDNESDAY: AUD – Retail Sales &amp; Trade Balance.\r\n\r\nTHURSDAY: GBP – Interest Rate.\r\nTHURSDAY: EUR – Interest Rate and Draghi Press Conference.\r\nTHURSDAY: CAD – IVEY PMi.\r\n\r\nFRIDAY: CAD – Building Permits &amp; Trade Balance.\r\nFRIDAY: USD – Non-Farm Employment Change and Trade Balance.\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">5.2 FINAL THOUGHTS / CLOSING COMMENTS:</span>\r\n\r\nIt is a whopper of a week this week for news. There is a great deal of market moving news items, we should be ready for continued “chop”, but… this is the week we may break the ranges. Many of the currency pairs have been somewhat range bound recently, even though the limits of the ranges may have extended a little, we are still very much trading inside ranges. With all the front line news this week we have the chance to really break out with some big moves.\r\n\r\nThe pick of the news has to be: -\r\n\r\n<strong>RBA - Rate Statement</strong>\r\n<strong>CAD - Rate Statement</strong>\r\n<strong>ECB - Press Conference</strong>\r\n<strong>USD - Non-Farm Payrolls</strong>\r\n\r\nAs always, there will be trades to trade and there will be some great opportunities, please trade in line with your RISK MANAGEMENT parameters from your TRADING PLAN. If you do not have a TRADE PLAN, in my opinion, you should, as this will help you with consistency.\r\n<p style=\"text-align: center;\"><strong>Consistency = longevity in trading and that is a critical goal.\r\nIT IS THE KEY MEASUREMENT</strong></p>\r\nBefore you enter a trade work out the risk, price it in $$$. Place your stop accordingly. PREMIUM SERVICE subscribers have a full library of information on RISK MANAGEMENT, RISK TOLERANCES and POSITION SIZING etc. available for reference 24x7.\r\n\r\nTake care.\r\n\r\nScott Pickering\r\nThe Pip Accumulator\r\nSunday March 1st 2015\r\n\r\nEMAIL / FOLLOW ME AT:\r\ndrivethru@weeklyfxdrivethru.com\r\nTwitter: @pipaccumulator\r\n<span style=\"line-height: 1.5;\">Google+/scottpickering\r\n</span>Tumblr: thepipaccumulator\r\n\r\n<strong><span style=\"text-decoration: underline;\">DISCLAIMER &amp; OTHER DATA:</span></strong>\r\n\r\n<span style=\"text-decoration: underline;\">SUBSCRIBING TO THE “FREE VERSION” OF THE WEEKLY FX DRIVE THRU:</span>\r\n\r\nIf you like what you have almost completed reading and want to have THE WEEKLY FX DRIVE THRU delivered direct to your email inbox next week, here is what you do: -\r\n\r\nGo to my website: - <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a>\r\n\r\nOn the right hand side of the welcome page under my bio “about me” there is a blue box titled SUBSCRIBE TO FREE NEWSLETTER, click on profile and add your email address. It is as simple and straightforward as that.\r\n\r\nI do NOT sell your email data to anyone…do not worry...one less thing to worry about!\r\n\r\n<span style=\"text-decoration: underline;\">THIRD PARTY COMPANIES WITH BANNERS ON MY WEBSITE:</span>\r\n\r\nThere are a small number of companies with banners on my website. In the interests of full disclosure I have a reciprocal business arrangement with these companies to promote their products.\r\n\r\nUnlike many of my competitors, I use the products and services provided by these companies. I will NOT allow any third party on my website unless I am 100% happy that they can back up their promise.\r\n\r\nBy virtue of the fact, I work with these companies almost daily. I am more than confident to have them advertise on my website.\r\n\r\nAny reader who buys products or services from any advertiser via a banner on my website, <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a> will automatically have my help and assistance with any issues that they may have with my partnered advertisers.\r\n\r\n<span style=\"text-decoration: underline;\">TRADING &amp; PERFORMANCES DISCLAIMER:</span>\r\n\r\nFLASH, RADAR and FUNDAMENTAL trade set-ups, “Tweets” and “Trade ideas” that are posted in my blogs or on Twitter are trades and set-ups that interest me. They are provided for training and informational purposes only and should not be interpreted as an offer, solicitation or recommendation of any specific security or investment strategy. Past performance is not indicative of future results. Trading Forex carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to trade any such leveraged products you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with trading on margin, and seek advice from an independent financial adviser if you have any doubts.','DON’T BE CRAZY AND IGNORE USD STRENGTH… THE USD RALLY GOES ON','','inherit','open','closed','','5397-revision-v1','','','2015-02-28 14:10:48','2015-02-28 19:10:48','',5397,'https://weeklyfxdrivethru.com/5397-revision-v1/',0,'revision','',0),(5407,1,'2015-02-28 14:23:43','2015-02-28 19:23:43','<section class=\"one-sixth first\">\r\n<h4>Completed Trades Risk/Reward Analysis Archives</h4>\r\n<div class=\"menu\"><a class=\"flashmenu-item\" href=\"#\">2015</a></div>\r\n</section><section class=\"five-sixths\">\r\n<div class=\"one-half first\">\r\n<h2>This Year\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/RISK-REWARD-01032015.png\"><img class=\"aligncenter size-full wp-image-5372\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/RISK-REWARD-01032015.png\" alt=\"RISK-REWARD 01032015\" width=\"432\" height=\"558\" /></a></h2>\r\n&nbsp;\r\n\r\n</div>\r\n<div class=\"one-half\">\r\n<h2>PREVIOUS YEARS\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/12/PREM-SERV-RISK-REWARD-31122014-YTD.png\"><img class=\"aligncenter size-full wp-image-4964\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/12/PREM-SERV-RISK-REWARD-31122014-YTD.png\" alt=\"PREM SERV RISK-REWARD 31122014 YTD\" width=\"436\" height=\"543\" /></a></h2>\r\n</div>\r\n</section>','COMPLETED TRADES RISK / REWARD ANALYSIS','','inherit','open','closed','','5006-revision-v1','','','2015-02-28 14:23:43','2015-02-28 19:23:43','',5006,'https://weeklyfxdrivethru.com/5006-revision-v1/',0,'revision','',0),(5408,1,'2015-02-28 14:24:40','2015-02-28 19:24:40','<section class=\"pdf-links\">\r\n<div class=\"one-third first\">\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/02/TRADING-WITH-ATRs.pdf\">TRADING WITH ATR\'s</a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/02/HEDGING.pdf\">HEDGING</a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/02/CREATING-A-TRADING-PLAN-3.0.pdf\">CREATING A TRADING PLAN</a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/03/FOLLOWING-YOUR-TRADING-PLAN-.pdf\">FOLLOWING YOUR TRADING PLAN</a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/03/PLANNING-YOUR-TRADES-2.0.pdf\">PLANNING YOUR TRADES (2.0)</a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/03/MANAGING-RISK.pdf\">MANAGING RISK</a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/03/STOP-PLACEMENT.pdf\">STOP PLACEMENT</a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/04/MAXIMISING-PROFIT-POTENTIAL-BY-PROPERLY-SIZING-POSITIONS.pdf\">MAXIMISING PROFIT POTENTIAL BY PROPERLY SIZING POSITIONS</a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/04/TRADING-AROUND-THE-NEWS.pdf\">TRADING AROUND THE NEWS</a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/04/HANDLING-NEWS-WITH-AN-OPEN-POSITION.pdf\">HANDLING NEWS WITH AN OPEN POSITION</a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/04/LIVE-ACCOUNT-vs-DEMO-ACCOUNT.pdf\">LIVE ACCOUNT vs DEMO ACCOUNT</a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/04/TRADING-WITH-A-FLEXIBLE-MINDSET.pdf\">TRADING WITH A FLEXIBLE MINDSET</a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/05/PROBABILITIES-IN-TRADING.pdf\">PROBABILITIES IN TRADING</a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/05/TRADING-PSYCHOLOGY-AND-DRAWDOWNS.pdf\">TRADING PSYCHOLOGY AND DRAWDOWNS</a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/05/TRADING-PSYCHOLOGY-RECENCY-BIAS.pdf\">TRADING PSYCHOLOGY - RECENCY BIAS</a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/06/A-MATHEMATICAL-APPROACH-TO-ELIMINATING-EMOTIONS.pdf\">A MATHEMATICAL APPROACH TO ELIMINATING EMOTIONS</a>\r\n\r\n</div>\r\n<div class=\"one-third\">\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/01/ARE-YOU-FORCING-TRADES_.pdf\">ARE YOU FORCING TRADES_</a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/06/TIPS-IN-ADJUSTING-TO-THE-FOREX-MARKET-WHEN-THERE-IS-LOW-VOLATILITY.pdf\">TIPS IN ADJUSTING TO THE FOREX MARKET WHEN THERE IS LOW VOLATILITY</a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/09/TIPS-ON-GETTING-BACK-INTO-TRADING-AFTER-A-BREAK.pdf\">TIPS ON GETTING BACK INTO TRADING AFTER A BREAK</a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/07/FX-BROKERS-PART-1.pdf\">FX BROKERS -PART 1</a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/07/FX-BROKERS-PART-2.pdf\">FX BROKERS - PART 2</a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/09/TRADING-MISTAKES-THAT-MAY-BE-LIMITING-YOUR-PROFITABILITY.pdf\">TRADING MISTAKES THAT MAY BE LIMITING YOUR PROFITABILITY</a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/09/TRADING-OUTSIDE-OF-YOUR-COMFORT-ZONE.pdf\">TRADING OUTSIDE OF YOUR COMFORT ZONE</a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/09/ARE-YOU-PREDICTING-PRICE-ACTION_.pdf\">ARE YOU PREDICTING PRICE ACTION</a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/10/DONT-GIVE-UP-ON-YOUR-TRADE-PLAN.pdf\">DON\'T GIVE UP ON YOUR TRADE PLAN</a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/10/HOW-TO-ADJUST-TO-CHANGING-TRADING-CONDITIONS.pdf\">HOW TO ADJUST TO CHANGING TRADING CONDITIONS</a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/10/HOW-TO-HANDLE-YOUR-FOREX-TRADING-WORRIES.pdf\">HOW TO HANDLE YOUR FOREX TRADING WORRIES</a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/11/3-WAYS-TO-ENHANCE-YOUR-FOREX-TRADING-SKILLS.pdf\">3 WAYS TO ENHANCE YOUR FOREX TRADING SKILLS</a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/11/THE-STAGES-OF-LOSS-IN-FOREX.pdf\">THE STAGES OF LOSS IN FOREX</a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/11/ARE-YOU-A-GREEDY-FOREX-TRADER_.pdf\">ARE YOU A GREEDY FOREX TRADER_</a>\r\n\r\n</div>\r\n<div class=\"one-third\">\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/11/SEVERAL-WAYS-TO-OVERCOME-TRADING-BURNOUT.pdf\">SEVERAL WAYS TO OVERCOME TRADING BURNOUT</a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/11/HOW-YOUR-PHYSICAL-WELL-BEING-AFFECTS-YOUR-FX-TRADING.pdf\">HOW YOUR PHYSICAL WELL-BEING AFFECTS YOUR FX TRADING</a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/12/5-OF-THE-WORST-EXCUSES-TO-NOT-START-TRADING.pdf\">5 OF THE WORST EXCUSES TO NOT START TRADING</a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/01/MY-APPROACH-ON-POSITION-SIZING.pdf\">MY APPROACH ON POSITION SIZING</a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/01/8-QUICK-REMINDERS-BEFORE-MAKING-YOUR-2015-TRADING-GOALS.pdf\">8 QUICK REMINDERS BEFORE MAKING YOUR 2015 TRADING GOALS</a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/01/IDEAS-THAT-MAYBE-YOU-SHOULD-ADD-TO-YOUR-FOREX-TRADING-RESOLUTIONS.pdf\">IDEAS THAT MAYBE YOU SHOULD ADD TO YOUR FOREX TRADING RESOLUTIONS</a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/POSITION-SIZING...TIPS-ON-HOW-TO-AVOID-RISKING-TOO-MUCH.pdf\">POSITION SIZING...TIPS ON HOW TO AVOID RISKING TOO MUCH</a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/HOW-TO-PLAN-YOUR-FOREX-TRADE-EXITS.pdf\">HOW TO PLAN YOUR FOREX TRADE EXITS</a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/THE-5-MOST-COMMON-MISTAKES-NEWBIE-TRADERS-MAKE.pdf\">THE 5 MOST COMMON MISTAKES NEWBIE TRADERS MAKE</a>\r\n\r\n&nbsp;\r\n\r\n</div>\r\n</section>\r\n<div class=\"one-half first\">These resources are in PDF format that will allow for easy printing</div>','Trading Essentials','','inherit','open','closed','','2538-revision-v1','','','2015-02-28 14:24:40','2015-02-28 19:24:40','',2538,'https://weeklyfxdrivethru.com/2538-revision-v1/',0,'revision','',0),(5409,1,'2015-03-01 08:22:21','2015-03-01 13:22:21','<h3 style=\"text-align: center;\"><strong>THE PREMIUM SERVICE\n</strong><strong>(The Home of Single-Lot $$$$ Trading)</strong></h3>\n<h4><strong>DATE: 01.03.2015\nREFERENCE: #141\n</strong><strong>BLOG: THE WEEKLY FX DRIVE THRU</strong></h4>\n<ol>\n	<li><strong><span style=\"text-decoration: underline;\"> INTRODUCTION / LOOKING BACK OVER THE PAST WEEK:</span></strong></li>\n</ol>\nThe Greek Tragedy played out early in the week with the EUROGROUP doing what they had to do by accepting the Greek governments proposals for an extension of 4 months to the existing credit line. Make no mistake, like a lot of people, I am fully expecting the GREEK BAILOUT ACT III to start around June this year.\n\nI was suckered on Tuesday with Janet Yellens’s testimony and entered en mass nearly all my favourite commodity cross-rates long… and… I am still in them. For the past 48 hours they have in fact just moved sideways, there has not been too much movement. I have all my commodity cross-rate trades in a separate account so that they do not distract me from any other trades on my main screen. So all I do is look at them once or twice a day and look at the net $$$ position. It has not really changed much since Wednesday’s close of business.\n\nThe other big news of the week was the U.S.$ index (DXY) breaking out on Thursday on the back of good CPi data.\n\nThese markets take no prisoners at all. In the early European session the DXY hit trend line support, I have no doubt that traders were lining up to be dollar bears as it approached support. After the data release it leaped up and didn’t just hit trend line resistance it broke through. I can imagine the $ bears were left swearing and cursing at their terminals. On Thursday we closed above the breakout level and held.\n\nThen on Friday, we had great GDP data which consolidated the move higher from which we broke lower on really poor housing and Chicago PMi numbers, only to bounce of the trend line and move higher. If the DXY is rallying on poor data this is something to hold on to and remember. This in itself for some traders is enough to keep them a USD bull.\n\nThe weekly DXY close is shown on the chart below.\n\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/USD-DXY-SECTION-1-in-BLOG-01032015.png\"><img class=\"aligncenter size-large wp-image-5383\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/USD-DXY-SECTION-1-in-BLOG-01032015-1024x442.png\" alt=\"USD DXY SECTION 1 in BLOG 01032015\" width=\"1024\" height=\"442\" /></a>\n\n&nbsp;\n\nI am a USD bull, for reasons such as: -\n<ul>\n	<li>Central Bank divergences.</li>\n	<li>S&amp;P approaching the 261.8% fib extension (pullback imminent in my opinion).</li>\n	<li>JPY divergence.</li>\n	<li>GOLD struggling to keep above the $1,200.00 level.</li>\n	<li>OIL, although extremely choppy I do think is moving lower. Maybe not to $20 Citi forecast but at least a re-test of the recent lows and maybe a dip into the $30’s.</li>\n	<li>Finally, the DXY has broken higher above a 29-year trend line and has extremely bullish looking chart formations. The Central Bank divergences between the FED and ECB are enough to keep me bullish the USD.</li>\n</ul>\nThe markets are very range bound and will continue, in my opinion, to consolidate for a little while longer. The USD breakout is hard for market makers to understand. For basically a lifetime, they have been trading with a depressed weak currency and, more recently a safety blanket provided by the FED of keeping the markets heavily liquidated (QE) with low interest rates forcing investors to buy risk assets such as stocks to obtain a return. Both have now gone. We are in a transitory (love that word… if it’s good enough for Yellen and Draghi it’s good enough for me!) period.\n\nThis period of transition from QE (Quantitative Easing) to raising interest rates seems at times, when listening to analysts and guests on CNBC and Bloomberg, to be a period of dis-belief, it is weird. The FED will raise rates. This is a fact. The stock markets are supposed to be future pricing mechanisms, they know that it’s (rate rises) coming they just don\'t want to believe it as it will be the end of an era. So, the equity markets are really squeezing every last drop of juice out of the lemon before the inevitable hits.\n\nI haven’t mentioned GREECE yet. No doubt next week they will announce that after receiving the bailout/loan extension they will want to fully negotiate their bailout deal as part of their election-winning mandate for the Greek people. As I wrote last week, the EUROGROUP v GREECE … IT’S NOT OVER YET. In my opinion this has NOT EVEN STARTED!! Happy fun days are ahead.\n\nLike I said last week, I believe that we are going to have a period with a trending market for a little while as all the correlations should hopefully fall into place and line up correctly as equities fall back, which I believe they will do very soon.\n\nAs always, patience is the key.\n\n&nbsp;\n<ol start=\"2\">\n	<li><strong><span style=\"text-decoration: underline;\"> WHAT’S ON MY MIND: -\nTHE FUNDAMENTAL TRADERS OVERVIEW:</span></strong></li>\n</ol>\n<p style=\"text-align: center;\"><strong>DON’T BE CRAZY AND IGNORE USD STRENGTH…\n</strong><strong>THE USD RALLY GOES ON</strong></p>\nI referenced a few comments earlier with regards to the USD. I now want to expand my earlier comments with a few more thoughts.\n\nThere is something really building with the USD index (DXY). I have below 3 charts of the USD index (DXY). As usual I have kept the charts as clear and as simple as possible to follow.\n\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/DXY-2.1-01032015.png\"><img class=\"aligncenter size-large wp-image-5384\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/DXY-2.1-01032015-1024x454.png\" alt=\"DXY 2.1 01032015\" width=\"1024\" height=\"454\" /></a>\n\n&nbsp;\n\nThe monthly chart above is very straightforward. It just shows the 29-year trend line that was broken in July 2014. Ever since that date the USD has been on the tear. One could argue that the sleeping giant has now awoken.\n\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/DXY-2.2-01032015.png\"><img class=\"aligncenter size-large wp-image-5385\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/DXY-2.2-01032015-1024x441.png\" alt=\"DXY 2.2 01032015\" width=\"1024\" height=\"441\" /></a>\n\n&nbsp;\n\nThe purpose of this monthly chart is just to show that since the last high in 2002 to the lows in 2008 using a Fibonacci retracement we have just passed the 50% retracement level of that move at 94.60. The DXY closed last week just above a nice round number of 95.00 at 95.26 and the 61.8% retracement above 100.00 at 100.31 looms.\n\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/DXY-2.3-01032015.png\"><img class=\"aligncenter size-large wp-image-5386\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/DXY-2.3-01032015-1024x447.png\" alt=\"DXY 2.3 01032015\" width=\"1024\" height=\"447\" /></a>\n\n&nbsp;\n\nThe purpose of this chart is just to drill down a little closer using a daily chart. It is very clear to see what an orderly move has taken place. It powers but it’s not explosive. Every substantial move higher has a period of consolidation in what is a bullish flag formation. I have drawn three bull flags on the move since July last year.\n\nThere is nothing FUNDAMENTAL in my mind that would stop this move continuing unless Janet Yellen at the FED decided to change U.S. Monetary Policy all of a sudden. The chances of that coming out of the “crash” are remote and in itself would probably send the U.S. economy into recession.\n\nWhat does it all mean for Forex traders?\n\nFor months as a FUNDAMENTAL trader 80% of my trades within the PREMIUM SERVICE have all been slanted towards USD strength using Central Bank divergences to further support my trade set-ups.\n\nI wrote the section below earlier in the blog…\n\n<strong><span style=\"color: #0000ff;\"><em>I am a USD bull, for reasons such as: -</em></span></strong>\n<ul>\n	<li><strong><span style=\"color: #0000ff;\"><em>Central Bank divergences.</em></span></strong></li>\n	<li><strong><span style=\"color: #0000ff;\"><em>S&amp;P approaching the 261.8% fib extension (pullback imminent in my opinion).</em></span></strong></li>\n	<li><strong><span style=\"color: #0000ff;\"><em>JPY divergence.</em></span></strong></li>\n	<li><strong><span style=\"color: #0000ff;\"><em>GOLD struggling to keep above the $1,200.00 level.</em></span></strong></li>\n	<li><strong><span style=\"color: #0000ff;\"><em>OIL, although extremely choppy I do think is moving lower. Maybe not to $20 Citi forecast but at least a re-test of the recent lows and maybe a dip into the $30’s.</em></span></strong></li>\n</ul>\n<strong><span style=\"color: #0000ff;\"><em>Finally, the DXY has broken higher above a 29-year trend line and has extremely bullish looking chart formations. The Central Bank divergences between the FED and ECB are enough to keep me bullish the USD.</em></span></strong>\n\nWith all this said what are the trades that I am looking at?\n\nFirstly, if I truly believe that we are looking at DXY 100.00, and I think that this is a real possibility, so where does this move leave the USD majors?\n\nIn the past three years of writing THE WEEKLY FX DRIVE THRU I have talked a lot about inter-currency and inter-market correlations and divergences. These really do matter and are an important part of trading.\n\nPersonally the DXY move from the lows of around 70.00 to the present day of 95.00 has been orderly in my opinion and not explosive. (A good example of an explosive move would be parts of the BOJ/Abe/Kuroda QE move in the USD/JPY). To a large extent the easy move has been done. Markets see big round numbers as a tractor beam sucking them in towards it. I have no doubt that 100.00 has several algorithmic traders wetting their pants with excitement.\n\nWe may get an explosive move that is spurred on by the FED rate hike in June. I know, the markets are grabbing hard and hugging their security blankets really hard, but mother Janet may whip them away and push up rates only very modestly, but that would be enough in my opinion.\n\nThe point that I am going to make here is that with an explosive move I believe that all relationships / correlations whether via currency or markets will be 100% in sync.\n\nIf the Fed raises in the Autumn (Fall), we would see the continuation of the orderly move higher. This would allow for divergence to continue between currencies and markets. At the end of the day how we get there is irrelevant how we trade to get there is of greater importance.\n\nFirstly with a USD index to 100.00, you have to be bullish the USD.\n\nThe best trades are in my opinion based around Central Bank divergence. The most obvious being: -\n<p style=\"text-align: center;\"><strong>ECB versus FED – EUR/USD short</strong>\n<strong>RBA versus FED – AUD/USD short</strong>\n<strong>FED versus SNB – USD/CHF long</strong>\n<strong>BOE versus RBA – GBP/AUD long</strong></p>\nWhy complicate matters too much:\n\nBOJ - There are heavy rumours that the BOJ QE program is ending.\nRBNZ – They claim neutrality… hmmmn let’s run with that one!!\nBOC – Poloz says recent rate hike is a one off… yeah right!!\n\nThere are 4 pairs above that represent trading with FUNDAMENTALS based off the back of Central Bank policies. Are you a big enough trader to take on the $$$ held by a Central Bank - of course not.\n\nThe 4 trades above are as stated based around Central Bank divergence, I am ignoring all the other noises…. keeping it dead simple for positional traders. Remember pairs do not move in straight lines. Look at longer-term charts to give you the overview of the moves, try if you can to ignore the charts under at least 240 minutes (4 hours).\n\nWhat are the entry levels, targets and stop loss levels?\n\nTo get these you need to be a subscriber to the PREMIUM SERVICE (see section 3 of this blog for details).\n\nToday, the PREMIUM SERVICE is LIVE in 3 of the 4 trading pairs highlighted above, but it is very much at the embryonic stages and it’s certainly not too late to establish a position. I am looking to re-enter the EUR/USD, after taking a small intra-day profit on Friday. For subscribers this trade and others are highlighted in section 4.4. of this blog.\n\nThe one thing about the Forex market is that there are always opportunities. You need to be patient at all times. As a predominantly position style FUNDAMENTAL TRADER I can spend a week or two with trades losing money waiting for my move to establish. Currencies never move in a straight line. Even though I have outlined trades based upon USD strength there will be days when you trade on USD weakness within a USD strength longer-term move. This is what, in my opinion, make Forex trading so interesting.\n\n&nbsp;\n<ol start=\"3\">\n	<li><strong><span style=\"text-decoration: underline;\"> THE PREMIUM SERVICE:</span></strong><strong><span style=\"text-decoration: underline;\">SUMMARY OF PERFORMANCE:</span></strong></li>\n</ol>\n<span style=\"text-decoration: underline;\">3.1 OVERVIEW:</span>\n\nFor new readers who may not be aware, I refer to the PREMIUM SERVICE quite a lot in this blog and for more details about what it is, and, how much it costs, you will need to go the welcome page of <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a> At the top of the page there are three drop down menus: PREMIUM SERVICE, PROMOTIONS (if available), SIGN-UP and DISCLAIMER. Further details and how to join are all contained there. You will need at PayPal account to subscribe.\n\n<span style=\"text-decoration: underline;\">3.2 PREMIUM SERVICE – SUBSCRIPTION COSTS:</span>\n\nFull details regarding the PREMIUM SERVICE can be found on my website <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a>\n\nOn the welcome page there are a series of TABS at the top of the page that provide a summary of what the PREMIUM SERVICE is about and what you receive for your subscription.\n\nTHE 2015 SUBSCRIPTION BREAKDOWN IS AS FOLLOWS: -\n\n10 weeks - $200.00\n20 weeks - $350.00\n40 weeks - $500.00\n\n<span style=\"text-decoration: underline;\">3.3.1. TRADING REVIEW OF ACTIVITY and SUMMARY OF PERFORMANCE:</span>\n\nI have been struggling with trades quite a lot this year in comparison to last year. I am not quite sure what to attribute this to; was it: -\n<ul>\n	<li>The SNB peg removal that hit me hard with my FXCM GBP/CHF trade.</li>\n	<li>The following week we had a day of three squeezes that rocked me as I was caught the wrong way.</li>\n	<li>The week after there was another monster squeeze, which again caught me the wrong way.</li>\n	<li>Then this week I was suckered like a “lamb to the slaughter“ on Yellen’s testimony. I read something as USD bullish it was in fact bearish.</li>\n</ul>\nI am not absolutely certain what it is. The PREMIUM SERVICE single lot trading account is healthy. My main trading account is lower due to the GBP/CHF trade and a couple of trades with greater position sizes that were closed in the squeezes detailed above.\n\nThe strange thing with regards to my trading patterns this year is that I am not making money from RADAR TRADES. This could be my source of some of my uncertainty with trading at the moment. Last year RADAR TRADES provided over $34,670.00 (STANDARD LOTS) in income from 175 trades (Average income per trade $198.11). This year so far RADAR TRADES have contributed a loss of $2,490.00 (STANDARD LOTS) from 39 trades (Average Loss per trade $63.84). I am not hanging around too much in the losing trades if you look at the profit / loss it’s about a ratio of 3:1 with last years profits versus this years losses so my decision making on when to take a loss is about normal.\n\nI love a challenge, so I will be getting on top of this in the coming weeks.\n\nLast week, I only closed a total of 8 trades; I carried forward my commodity cross-rate pairs, my standard commodity currency pairs and my CHF trades from last week into this coming week. In total 12 trades were carried forward. The trades closed this week were a net loss and this has been reflected in the totals on the excel spreadsheets below in section 3.3.3.\n\nI am very comfortable with all trades even though the commodity crosses have not yet moved into profit. They are close to it given their volatile nature and the daily ATR (Average True Range). They normally play catch up after the majors have made their initial move. I had hoped that this would have occurred Thursday / Friday last week but alas not yet. I seem to write this a great deal at the moment being both positive and patient is really important.\n\nI head into this week carrying forward 12 LIVE trades from last week and, as requested by one of my subscribers I will recode the FLASH TRADES that were entered into on Yellen’s testimony that are commodity cross rate pairs to FUNDAMENTAL TRADES. This will be done via email and or twitter. It makes sense to do this for your journals, however for me I have all my commodity cross rate pair set-ups placed with a separate broker away from my main accounts so that I can manage the returns and performance with this type of trade instantaneously.\n\nYear to date the PREMIUM SERVICE trades, had you just traded single-lot trades would have given you profits from the 113 completed trades so far in 2015 as follows: -\n<p style=\"text-align: center;\"><strong>MICRO LOT TRADERS:                 $218.20</strong>\n<strong> MINI LOT TRADERS:                      $2,182.00</strong>\n<strong> STANDARD LOT TRADERS:         $21,820.00</strong></p>\nThe usual summary charts detailing the week and year to date performances, are below: -\n\n<span style=\"text-decoration: underline;\">3.3.2. – PREMIUM SERVICE PROFIT/LOSS RATIOS:</span>\n\n&nbsp;\n\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/PROFIT-LOSS-RATIOS-01032015.png\"><img class=\"aligncenter size-full wp-image-5371\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/PROFIT-LOSS-RATIOS-01032015.png\" alt=\"PROFIT-LOSS RATIOS 01032015\" width=\"422\" height=\"601\" /></a>\n\n&nbsp;\n\n<span style=\"text-decoration: underline;\">3.3.3. – PREMIUM SERVICE RISK/REWARD ANALYSIS:</span>\n\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/RISK-REWARD-01032015.png\"><img class=\"aligncenter size-full wp-image-5372\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/RISK-REWARD-01032015.png\" alt=\"RISK-REWARD 01032015\" width=\"432\" height=\"558\" /></a>\n\n&nbsp;\n\n&nbsp;\n\n<span style=\"text-decoration: underline;\">3.3.4. – PREMIUM SERVICE FLASH TRADES PERFORMANCE FEBRUARY:</span>\n\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/FLASH1-01032015.png\"><img class=\"aligncenter size-full wp-image-5375\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/FLASH1-01032015.png\" alt=\"FLASH1 01032015\" width=\"495\" height=\"529\" /></a>\n\n&nbsp;\n\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/FLASH2-01032015.png\"><img class=\"aligncenter size-full wp-image-5376\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/FLASH2-01032015.png\" alt=\"FLASH2 01032015\" width=\"504\" height=\"528\" /></a>\n\n&nbsp;\n\n<span style=\"text-decoration: underline;\">3.3.5. – PREMIUM SERVICE FLASH TRADES PERFORMANCE YTD:</span>\n\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/FLASH-YTD-FEB-2015.png\"><img class=\"aligncenter size-full wp-image-5377\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/FLASH-YTD-FEB-2015.png\" alt=\"FLASH YTD FEB 2015\" width=\"348\" height=\"380\" /></a>\n\n<span style=\"text-decoration: underline;\">3.3.6. – PREMIUM SERVICE RADAR TRADES PERFORMANCE FEBRUARY:</span>\n\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/RADAR1-01032015.png\"><img class=\"aligncenter size-full wp-image-5378\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/RADAR1-01032015.png\" alt=\"RADAR1 01032015\" width=\"557\" height=\"483\" /></a>\n\n&nbsp;\n\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/RADAR2-01032015.png\"><img class=\"aligncenter size-full wp-image-5379\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/RADAR2-01032015.png\" alt=\"RADAR2 01032015\" width=\"557\" height=\"489\" /></a>\n\n&nbsp;\n\n<span style=\"text-decoration: underline;\">3.3.7. – PREMIUM SERVICE RADAR TRADES PERFORMANCE YTD:</span>\n\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/RADAR-YTD-FEB2015.png\"><img class=\"aligncenter size-full wp-image-5380\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/RADAR-YTD-FEB2015.png\" alt=\"RADAR YTD FEB2015\" width=\"358\" height=\"367\" /></a>\n\n&nbsp;\n\n<span style=\"text-decoration: underline;\">3.3.8. – PREMIUM SERVICE FUNDAMENTAL TRADES PERFORMANCE FEBRUARY</span>:\n\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/FUNDAMENTAL-01032015.png\"><img class=\"aligncenter size-full wp-image-5381\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/FUNDAMENTAL-01032015.png\" alt=\"FUNDAMENTAL 01032015\" width=\"511\" height=\"521\" /></a>\n\n<span style=\"text-decoration: underline;\">3.3.9. – PREMIUM SERVICE FUNDAMENTAL TRADES PERFORMANCE YTD:</span>\n\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/FUNDAMENTAL-YTD-FEB2015.png\"><img class=\"aligncenter size-full wp-image-5382\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/FUNDAMENTAL-YTD-FEB2015.png\" alt=\"FUNDAMENTAL YTD FEB2015\" width=\"353\" height=\"373\" /></a>\n\n&nbsp;\n\n<span style=\"text-decoration: underline;\">3.3.10. – PREMIUM SERVICE OVERALL TRADE SUMMARY MONTH &amp; YT</span>\n\n&nbsp;\n\n&nbsp;\n\n&nbsp;\n\n&nbsp;\n\n&nbsp;\n\n&nbsp;\n\n&nbsp;\n\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/PREM-SERV-PROFITS1-01032015.png\"><img class=\"aligncenter size-full wp-image-5373\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/PREM-SERV-PROFITS1-01032015.png\" alt=\"PREM SERV PROFITS1 01032015\" width=\"459\" height=\"441\" /></a>\n\n&nbsp;\n\n&nbsp;\n\n<strong><span style=\"text-decoration: underline;\">4. PREMIUM SERVICE SUBSCRIBER EXCLUSIVE CONTENT:</span></strong>\n\n(Section 4 is exclusive PREMIUM SERVICE content only available to PREMIUM SERVICE subscribers)\n\n<span style=\"text-decoration: underline;\">4.1 EDUCATION:\n</span>(The full list of all items and more from this section can be found in the PREMIUM SERVICE website in the Trade Essential area under the EDUCATION tab.)\n\n<span style=\"text-decoration: underline;\">4.2 THE PREMIUM SERVICE - EXISTING LIVE TRADES:</span>\n\n<span style=\"text-decoration: underline;\">4.3 THE PREMIUM SERVICE – EXISTING LIMIT ORDERS:</span>\n\n<span style=\"text-decoration: underline;\">4.4 POTENTIAL TRADES - WHAT CHARTS AM I LOOKING AT?</span>\n\n<span style=\"text-decoration: underline;\">4.5 MAJOR TRADING PAIRS WITH LONGER-TERM TRENDS MATCHING:</span>\n\n<span style=\"text-decoration: underline;\">4.6 THE KEY SUPPORT &amp; RESISTANCE LEVELS WITH THE USD MAJORS</span><strong><span style=\"text-decoration: underline;\">:\n</span></strong>(This content is now for PREMIUM SERVICE subscribers only, it allows me to refer to existing and future set-ups that form part of the PREMIUM SERVICE subscription)\n\n&nbsp;\n<ol start=\"5\">\n	<li><strong><span style=\"text-decoration: underline;\"> THE WEEK AHEAD: -\nWHAT AM I THINKING &amp; WHAT AM I LOOKING AT?</span></strong></li>\n</ol>\n<span style=\"text-decoration: underline;\">5.1 MAJOR FOREX NEWS THIS WEEK THAT INTERESTS ME:</span>\n\nSUNDAY: CNY – HSBC Final Manufacturing PMi.\n\nMONDAY: GBP – Manufacturing PMi.\nMONDAY: USD – ISM Manufacturing PMi.\nMONDAY: AUD – Building Approvals &amp; RBA Rate Statement,\n\nTUESDAY: GBP – Construction PMi.\nTUESDAY: CAD – GDP.\nTUESDAY: NZD – GDT Price Index.\nTUESDAY: AUD – GDP.\n\nWEDNESDAY: GBP – Services PMi.\nWEDNESDAY: USD – ADP Non-Farm Employment Change.\nWEDNESDAY: CAD – BOC Rate Statement.\nWEDNESDAY: AUD – Retail Sales &amp; Trade Balance.\n\nTHURSDAY: GBP – Interest Rate.\nTHURSDAY: EUR – Interest Rate and Draghi Press Conference.\nTHURSDAY: CAD – IVEY PMi.\n\nFRIDAY: CAD – Building Permits &amp; Trade Balance.\nFRIDAY: USD – Non-Farm Employment Change and Trade Balance.\n\n&nbsp;\n\n<span style=\"text-decoration: underline;\">5.2 FINAL THOUGHTS / CLOSING COMMENTS:</span>\n\nIt is a whopper of a week this week for news. There is a great deal of market moving news items, we should be ready for continued “chop”, but… this is the week we may break the ranges. Many of the currency pairs have been somewhat range bound recently, even though the limits of the ranges may have extended a little, we are still very much trading inside ranges. With all the front line news this week we have the chance to really break out with some big moves.\n\nThe pick of the news has to be: -\n\n<strong>RBA - Rate Statement</strong>\n<strong>CAD - Rate Statement</strong>\n<strong>ECB - Press Conference</strong>\n<strong>USD - Non-Farm Payrolls</strong>\n\nAs always, there will be trades to trade and there will be some great opportunities, please trade in line with your RISK MANAGEMENT parameters from your TRADING PLAN. If you do not have a TRADE PLAN, in my opinion, you should, as this will help you with consistency.\n<p style=\"text-align: center;\"><strong>Consistency = longevity in trading and that is a critical goal.\nIT IS THE KEY MEASUREMENT</strong></p>\nBefore you enter a trade work out the risk, price it in $$$. Place your stop accordingly. PREMIUM SERVICE subscribers have a full library of information on RISK MANAGEMENT, RISK TOLERANCES and POSITION SIZING etc. available for reference 24x7.\n\nTake care.\n\nScott Pickering\nThe Pip Accumulator\nSunday March 1st 2015\n\nEMAIL / FOLLOW ME AT:\ndrivethru@weeklyfxdrivethru.com\nTwitter: @pipaccumulator\n<span style=\"line-height: 1.5;\">Google+/scottpickering\n</span>Tumblr: thepipaccumulator\n\n<strong><span style=\"text-decoration: underline;\">DISCLAIMER &amp; OTHER DATA:</span></strong>\n\n<span style=\"text-decoration: underline;\">SUBSCRIBING TO THE “FREE VERSION” OF THE WEEKLY FX DRIVE THRU:</span>\n\nIf you like what you have almost completed reading and want to have THE WEEKLY FX DRIVE THRU delivered direct to your email inbox next week, here is what you do: -\n\nGo to my website: - <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a>\n\nOn the right hand side of the welcome page under my bio “about me” there is a blue box titled SUBSCRIBE TO FREE NEWSLETTER, click on profile and add your email address. It is as simple and straightforward as that.\n\nI do NOT sell your email data to anyone…do not worry...one less thing to worry about!\n\n<span style=\"text-decoration: underline;\">THIRD PARTY COMPANIES WITH BANNERS ON MY WEBSITE:</span>\n\nThere are a small number of companies with banners on my website. In the interests of full disclosure I have a reciprocal business arrangement with these companies to promote their products.\n\nUnlike many of my competitors, I use the products and services provided by these companies. I will NOT allow any third party on my website unless I am 100% happy that they can back up their promise.\n\nBy virtue of the fact, I work with these companies almost daily. I am more than confident to have them advertise on my website.\n\nAny reader who buys products or services from any advertiser via a banner on my website, <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a> will automatically have my help and assistance with any issues that they may have with my partnered advertisers.\n\n<span style=\"text-decoration: underline;\">TRADING &amp; PERFORMANCES DISCLAIMER:</span>\n\nFLASH, RADAR and FUNDAMENTAL trade set-ups, “Tweets” and “Trade ideas” that are posted in my blogs or on Twitter are trades and set-ups that interest me. They are provided for training and informational purposes only and should not be interpreted as an offer, solicitation or recommendation of any specific security or investment strategy. Past performance is not indicative of future results. Trading Forex carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to trade any such leveraged products you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with trading on margin, and seek advice from an independent financial adviser if you have any doubts.','DON’T BE CRAZY AND IGNORE USD STRENGTH… THE USD RALLY GOES ON','','inherit','open','closed','','5397-autosave-v1','','','2015-03-01 08:22:21','2015-03-01 13:22:21','',5397,'https://weeklyfxdrivethru.com/5397-autosave-v1/',0,'revision','',0),(5410,1,'2015-03-01 08:26:54','2015-03-01 13:26:54','<h3 style=\"text-align: center;\"><strong>THE PREMIUM SERVICE\r\n</strong><strong>(The Home of Single-Lot $$$$ Trading)</strong></h3>\r\n<h4><strong>DATE: 01.03.2015\r\nREFERENCE: #141\r\n</strong><strong>BLOG: THE WEEKLY FX DRIVE THRU</strong></h4>\r\n<ol>\r\n	<li><strong><span style=\"text-decoration: underline;\"> INTRODUCTION / LOOKING BACK OVER THE PAST WEEK:</span></strong></li>\r\n</ol>\r\nThe Greek Tragedy played out early in the week with the EUROGROUP doing what they had to do by accepting the Greek governments proposals for an extension of 4 months to the existing credit line. Make no mistake, like a lot of people, I am fully expecting the GREEK BAILOUT ACT III to start around June this year.\r\n\r\nI was suckered on Tuesday with Janet Yellens’s testimony and entered en mass nearly all my favourite commodity cross-rates long… and… I am still in them. For the past 48 hours they have in fact just moved sideways, there has not been too much movement. I have all my commodity cross-rate trades in a separate account so that they do not distract me from any other trades on my main screen. So all I do is look at them once or twice a day and look at the net $$$ position. It has not really changed much since Wednesday’s close of business.\r\n\r\nThe other big news of the week was the U.S.$ index (DXY) breaking out on Thursday on the back of good CPi data.\r\n\r\nThese markets take no prisoners at all. In the early European session the DXY hit trend line support, I have no doubt that traders were lining up to be dollar bears as it approached support. After the data release it leaped up and didn’t just hit trend line resistance it broke through. I can imagine the $ bears were left swearing and cursing at their terminals. On Thursday we closed above the breakout level and held.\r\n\r\nThen on Friday, we had great GDP data which consolidated the move higher from which we broke lower on really poor housing and Chicago PMi numbers, only to bounce of the trend line and move higher. If the DXY is rallying on poor data this is something to hold on to and remember. This in itself for some traders is enough to keep them a USD bull.\r\n\r\nThe weekly DXY close is shown on the chart below.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/USD-DXY-SECTION-1-in-BLOG-01032015.png\"><img class=\"aligncenter size-large wp-image-5383\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/USD-DXY-SECTION-1-in-BLOG-01032015-1024x442.png\" alt=\"USD DXY SECTION 1 in BLOG 01032015\" width=\"1024\" height=\"442\" /></a>\r\n\r\n&nbsp;\r\n\r\nI am a USD bull, for reasons such as: -\r\n<ul>\r\n	<li>Central Bank divergences.</li>\r\n	<li>S&amp;P approaching the 261.8% fib extension (pullback imminent in my opinion).</li>\r\n	<li>JPY divergence.</li>\r\n	<li>GOLD struggling to keep above the $1,200.00 level.</li>\r\n	<li>OIL, although extremely choppy I do think is moving lower. Maybe not to $20 Citi forecast but at least a re-test of the recent lows and maybe a dip into the $30’s.</li>\r\n	<li>Finally, the DXY has broken higher above a 29-year trend line and has extremely bullish looking chart formations. The Central Bank divergences between the FED and ECB are enough to keep me bullish the USD.</li>\r\n</ul>\r\nThe markets are very range bound and will continue, in my opinion, to consolidate for a little while longer. The USD breakout is hard for market makers to understand. For basically a lifetime, they have been trading with a depressed weak currency and, more recently a safety blanket provided by the FED of keeping the markets heavily liquidated (QE) with low interest rates forcing investors to buy risk assets such as stocks to obtain a return. Both have now gone. We are in a transitory (love that word… if it’s good enough for Yellen and Draghi it’s good enough for me!) period.\r\n\r\nThis period of transition from QE (Quantitative Easing) to raising interest rates seems at times, when listening to analysts and guests on CNBC and Bloomberg, to be a period of dis-belief, it is weird. The FED will raise rates. This is a fact. The stock markets are supposed to be future pricing mechanisms, they know that it’s (rate rises) coming they just don\'t want to believe it as it will be the end of an era. So, the equity markets are really squeezing every last drop of juice out of the lemon before the inevitable hits.\r\n\r\nI haven’t mentioned GREECE yet. No doubt next week they will announce that after receiving the bailout/loan extension they will want to fully negotiate their bailout deal as part of their election-winning mandate for the Greek people. As I wrote last week, the EUROGROUP v GREECE … IT’S NOT OVER YET. In my opinion this has NOT EVEN STARTED!! Happy fun days are ahead.\r\n\r\nLike I said last week, I believe that we are going to have a period with a trending market for a little while as all the correlations should hopefully fall into place and line up correctly as equities fall back, which I believe they will do very soon.\r\n\r\nAs always, patience is the key.\r\n\r\n&nbsp;\r\n<ol start=\"2\">\r\n	<li><strong><span style=\"text-decoration: underline;\"> WHAT’S ON MY MIND: -\r\nTHE FUNDAMENTAL TRADERS OVERVIEW:</span></strong></li>\r\n</ol>\r\n<p style=\"text-align: center;\"><strong>DON’T BE CRAZY AND IGNORE USD STRENGTH…\r\n</strong><strong>THE USD RALLY GOES ON</strong></p>\r\nI referenced a few comments earlier with regards to the USD. I now want to expand my earlier comments with a few more thoughts.\r\n\r\nThere is something really building with the USD index (DXY). I have below 3 charts of the USD index (DXY). As usual I have kept the charts as clear and as simple as possible to follow.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/DXY-2.1-01032015.png\"><img class=\"aligncenter size-large wp-image-5384\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/DXY-2.1-01032015-1024x454.png\" alt=\"DXY 2.1 01032015\" width=\"1024\" height=\"454\" /></a>\r\n\r\n&nbsp;\r\n\r\nThe monthly chart above is very straightforward. It just shows the 29-year trend line that was broken in July 2014. Ever since that date the USD has been on the tear. One could argue that the sleeping giant has now awoken.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/DXY-2.2-01032015.png\"><img class=\"aligncenter size-large wp-image-5385\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/DXY-2.2-01032015-1024x441.png\" alt=\"DXY 2.2 01032015\" width=\"1024\" height=\"441\" /></a>\r\n\r\n&nbsp;\r\n\r\nThe purpose of this monthly chart is just to show that since the last high in 2002 to the lows in 2008 using a Fibonacci retracement we have just passed the 50% retracement level of that move at 94.60. The DXY closed last week just above a nice round number of 95.00 at 95.26 and the 61.8% retracement above 100.00 at 100.31 looms.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/DXY-2.3-01032015.png\"><img class=\"aligncenter size-large wp-image-5386\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/DXY-2.3-01032015-1024x447.png\" alt=\"DXY 2.3 01032015\" width=\"1024\" height=\"447\" /></a>\r\n\r\n&nbsp;\r\n\r\nThe purpose of this chart is just to drill down a little closer using a daily chart. It is very clear to see what an orderly move has taken place. It powers but it’s not explosive. Every substantial move higher has a period of consolidation in what is a bullish flag formation. I have drawn three bull flags on the move since July last year.\r\n\r\nThere is nothing FUNDAMENTAL in my mind that would stop this move continuing unless Janet Yellen at the FED decided to change U.S. Monetary Policy all of a sudden. The chances of that coming out of the “crash” are remote and in itself would probably send the U.S. economy into recession.\r\n\r\nWhat does it all mean for Forex traders?\r\n\r\nFor months as a FUNDAMENTAL trader 80% of my trades within the PREMIUM SERVICE have all been slanted towards USD strength using Central Bank divergences to further support my trade set-ups.\r\n\r\nI wrote the section below earlier in the blog…\r\n\r\n<strong><span style=\"color: #0000ff;\"><em>I am a USD bull, for reasons such as: -</em></span></strong>\r\n<ul>\r\n	<li><strong><span style=\"color: #0000ff;\"><em>Central Bank divergences.</em></span></strong></li>\r\n	<li><strong><span style=\"color: #0000ff;\"><em>S&amp;P approaching the 261.8% fib extension (pullback imminent in my opinion).</em></span></strong></li>\r\n	<li><strong><span style=\"color: #0000ff;\"><em>JPY divergence.</em></span></strong></li>\r\n	<li><strong><span style=\"color: #0000ff;\"><em>GOLD struggling to keep above the $1,200.00 level.</em></span></strong></li>\r\n	<li><strong><span style=\"color: #0000ff;\"><em>OIL, although extremely choppy I do think is moving lower. Maybe not to $20 Citi forecast but at least a re-test of the recent lows and maybe a dip into the $30’s.</em></span></strong></li>\r\n</ul>\r\n<strong><span style=\"color: #0000ff;\"><em>Finally, the DXY has broken higher above a 29-year trend line and has extremely bullish looking chart formations. The Central Bank divergences between the FED and ECB are enough to keep me bullish the USD.</em></span></strong>\r\n\r\nWith all this said what are the trades that I am looking at?\r\n\r\nFirstly, if I truly believe that we are looking at DXY 100.00, and I think that this is a real possibility, so where does this move leave the USD majors?\r\n\r\nIn the past three years of writing THE WEEKLY FX DRIVE THRU I have talked a lot about inter-currency and inter-market correlations and divergences. These really do matter and are an important part of trading.\r\n\r\nPersonally the DXY move from the lows of around 70.00 to the present day of 95.00 has been orderly in my opinion and not explosive. (A good example of an explosive move would be parts of the BOJ/Abe/Kuroda QE move in the USD/JPY). To a large extent the easy move has been done. Markets see big round numbers as a tractor beam sucking them in towards it. I have no doubt that 100.00 has several algorithmic traders wetting their pants with excitement.\r\n\r\nWe may get an explosive move that is spurred on by the FED rate hike in June. I know, the markets are grabbing hard and hugging their security blankets really hard, but mother Janet may whip them away and push up rates only very modestly, but that would be enough in my opinion.\r\n\r\nThe point that I am going to make here is that with an explosive move I believe that all relationships / correlations whether via currency or markets will be 100% in sync.\r\n\r\nIf the Fed raises in the Autumn (Fall), we would see the continuation of the orderly move higher. This would allow for divergence to continue between currencies and markets. At the end of the day how we get there is irrelevant how we trade to get there is of greater importance.\r\n\r\nFirstly with a USD index to 100.00, you have to be bullish the USD.\r\n\r\nThe best trades are in my opinion based around Central Bank divergence. The most obvious being: -\r\n<p style=\"text-align: center;\"><strong>ECB versus FED – EUR/USD short</strong>\r\n<strong>RBA versus FED – AUD/USD short</strong>\r\n<strong>FED versus SNB – USD/CHF long</strong>\r\n<strong>BOE versus RBA – GBP/AUD long</strong></p>\r\nWhy complicate matters too much:\r\n\r\nBOJ - There are heavy rumours that the BOJ QE program is ending.\r\nRBNZ – They claim neutrality… hmmmn let’s run with that one!!\r\nBOC – Poloz says recent rate hike is a one off… yeah right!!\r\n\r\nThere are 4 pairs above that represent trading with FUNDAMENTALS based off the back of Central Bank policies. Are you a big enough trader to take on the $$$ held by a Central Bank - of course not.\r\n\r\nThe 4 trades above are as stated based around Central Bank divergence, I am ignoring all the other noises…. keeping it dead simple for positional traders. Remember pairs do not move in straight lines. Look at longer-term charts to give you the overview of the moves, try if you can to ignore the charts under at least 240 minutes (4 hours).\r\n\r\nWhat are the entry levels, targets and stop loss levels?\r\n\r\nTo get these you need to be a subscriber to the PREMIUM SERVICE (see section 3 of this blog for details).\r\n\r\nToday, the PREMIUM SERVICE is LIVE in 3 of the 4 trading pairs highlighted above, but it is very much at the embryonic stages and it’s certainly not too late to establish a position. I am looking to re-enter the EUR/USD, after taking a small intra-day profit on Friday. For subscribers this trade and others are highlighted in section 4.4. of this blog.\r\n\r\nThe one thing about the Forex market is that there are always opportunities. You need to be patient at all times. As a predominantly position style FUNDAMENTAL TRADER I can spend a week or two with trades losing money waiting for my move to establish. Currencies never move in a straight line. Even though I have outlined trades based upon USD strength there will be days when you trade on USD weakness within a USD strength longer-term move. This is what, in my opinion, make Forex trading so interesting.\r\n\r\n&nbsp;\r\n<ol start=\"3\">\r\n	<li><strong><span style=\"text-decoration: underline;\"> THE PREMIUM SERVICE:</span></strong><strong><span style=\"text-decoration: underline;\">SUMMARY OF PERFORMANCE:</span></strong></li>\r\n</ol>\r\n<span style=\"text-decoration: underline;\">3.1 OVERVIEW:</span>\r\n\r\nFor new readers who may not be aware, I refer to the PREMIUM SERVICE quite a lot in this blog and for more details about what it is, and, how much it costs, you will need to go the welcome page of <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a> At the top of the page there are three drop down menus: PREMIUM SERVICE, PROMOTIONS (if available), SIGN-UP and DISCLAIMER. Further details and how to join are all contained there. You will need at PayPal account to subscribe.\r\n\r\n<span style=\"text-decoration: underline;\">3.2 PREMIUM SERVICE – SUBSCRIPTION COSTS:</span>\r\n\r\nFull details regarding the PREMIUM SERVICE can be found on my website <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a>\r\n\r\nOn the welcome page there are a series of TABS at the top of the page that provide a summary of what the PREMIUM SERVICE is about and what you receive for your subscription.\r\n\r\nTHE 2015 SUBSCRIPTION BREAKDOWN IS AS FOLLOWS: -\r\n\r\n10 weeks - $200.00\r\n20 weeks - $350.00\r\n40 weeks - $500.00\r\n\r\n<span style=\"text-decoration: underline;\">3.3.1. TRADING REVIEW OF ACTIVITY and SUMMARY OF PERFORMANCE:</span>\r\n\r\nI have been struggling with trades quite a lot this year in comparison to last year. I am not quite sure what to attribute this to; was it: -\r\n<ul>\r\n	<li>The SNB peg removal that hit me hard with my FXCM GBP/CHF trade.</li>\r\n	<li>The following week we had a day of three squeezes that rocked me as I was caught the wrong way.</li>\r\n	<li>The week after there was another monster squeeze, which again caught me the wrong way.</li>\r\n	<li>Then this week I was suckered like a “lamb to the slaughter“ on Yellen’s testimony. I read something as USD bullish it was in fact bearish.</li>\r\n</ul>\r\nI am not absolutely certain what it is. The PREMIUM SERVICE single lot trading account is healthy. My main trading account is lower due to the GBP/CHF trade and a couple of trades with greater position sizes that were closed in the squeezes detailed above.\r\n\r\nThe strange thing with regards to my trading patterns this year is that I am not making money from RADAR TRADES. This could be my source of some of my uncertainty with trading at the moment. Last year RADAR TRADES provided over $34,670.00 (STANDARD LOTS) in income from 175 trades (Average income per trade $198.11). This year so far RADAR TRADES have contributed a loss of $2,490.00 (STANDARD LOTS) from 39 trades (Average Loss per trade $63.84). I am not hanging around too much in the losing trades if you look at the profit / loss it’s about a ratio of 3:1 with last years profits versus this years losses so my decision making on when to take a loss is about normal.\r\n\r\nI love a challenge, so I will be getting on top of this in the coming weeks.\r\n\r\nLast week, I only closed a total of 8 trades; I carried forward my commodity cross-rate pairs, my standard commodity currency pairs and my CHF trades from last week into this coming week. In total 12 trades were carried forward. The trades closed this week were a net loss and this has been reflected in the totals on the excel spreadsheets below in section 3.3.3.\r\n\r\nI am very comfortable with all trades even though the commodity crosses have not yet moved into profit. They are close to it given their volatile nature and the daily ATR (Average True Range). They normally play catch up after the majors have made their initial move. I had hoped that this would have occurred Thursday / Friday last week but alas not yet. I seem to write this a great deal at the moment being both positive and patient is really important.\r\n\r\nI head into this week carrying forward 12 LIVE trades from last week and, as requested by one of my subscribers I will recode the FLASH TRADES that were entered into on Yellen’s testimony that are commodity cross rate pairs to FUNDAMENTAL TRADES. This will be done via email and or twitter. It makes sense to do this for your journals, however for me I have all my commodity cross rate pair set-ups placed with a separate broker away from my main accounts so that I can manage the returns and performance with this type of trade instantaneously.\r\n\r\nYear to date the PREMIUM SERVICE trades, had you just traded single-lot trades would have given you profits from the 113 completed trades so far in 2015 as follows: -\r\n<p style=\"text-align: center;\"><strong>MICRO LOT TRADERS:                 $218.20</strong>\r\n<strong> MINI LOT TRADERS:                      $2,182.00</strong>\r\n<strong> STANDARD LOT TRADERS:         $21,820.00</strong></p>\r\nThe usual summary charts detailing the week and year to date performances, are below: -\r\n\r\n<span style=\"text-decoration: underline;\">3.3.2. – PREMIUM SERVICE PROFIT/LOSS RATIOS:</span>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/PROFIT-LOSS-RATIOS-01032015.png\"><img class=\"aligncenter size-full wp-image-5371\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/PROFIT-LOSS-RATIOS-01032015.png\" alt=\"PROFIT-LOSS RATIOS 01032015\" width=\"422\" height=\"601\" /></a>\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">3.3.3. – PREMIUM SERVICE RISK/REWARD ANALYSIS:</span>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/RISK-REWARD-01032015.png\"><img class=\"aligncenter size-full wp-image-5372\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/RISK-REWARD-01032015.png\" alt=\"RISK-REWARD 01032015\" width=\"432\" height=\"558\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">3.3.4. – PREMIUM SERVICE FLASH TRADES PERFORMANCE FEBRUARY:</span>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/FLASH1-01032015.png\"><img class=\"aligncenter size-full wp-image-5375\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/FLASH1-01032015.png\" alt=\"FLASH1 01032015\" width=\"495\" height=\"529\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/FLASH2-01032015.png\"><img class=\"aligncenter size-full wp-image-5376\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/FLASH2-01032015.png\" alt=\"FLASH2 01032015\" width=\"504\" height=\"528\" /></a>\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">3.3.5. – PREMIUM SERVICE FLASH TRADES PERFORMANCE YTD:</span>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/FLASH-YTD-FEB-2015.png\"><img class=\"aligncenter size-full wp-image-5377\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/FLASH-YTD-FEB-2015.png\" alt=\"FLASH YTD FEB 2015\" width=\"348\" height=\"380\" /></a>\r\n\r\n<span style=\"text-decoration: underline;\">3.3.6. – PREMIUM SERVICE RADAR TRADES PERFORMANCE FEBRUARY:</span>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/RADAR1-01032015.png\"><img class=\"aligncenter size-full wp-image-5378\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/RADAR1-01032015.png\" alt=\"RADAR1 01032015\" width=\"557\" height=\"483\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/RADAR2-01032015.png\"><img class=\"aligncenter size-full wp-image-5379\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/RADAR2-01032015.png\" alt=\"RADAR2 01032015\" width=\"557\" height=\"489\" /></a>\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">3.3.7. – PREMIUM SERVICE RADAR TRADES PERFORMANCE YTD:</span>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/RADAR-YTD-FEB2015.png\"><img class=\"aligncenter size-full wp-image-5380\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/RADAR-YTD-FEB2015.png\" alt=\"RADAR YTD FEB2015\" width=\"358\" height=\"367\" /></a>\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">3.3.8. – PREMIUM SERVICE FUNDAMENTAL TRADES PERFORMANCE FEBRUARY</span>:\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/FUNDAMENTAL-01032015.png\"><img class=\"aligncenter size-full wp-image-5381\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/FUNDAMENTAL-01032015.png\" alt=\"FUNDAMENTAL 01032015\" width=\"511\" height=\"521\" /></a>\r\n\r\n<span style=\"text-decoration: underline;\">3.3.9. – PREMIUM SERVICE FUNDAMENTAL TRADES PERFORMANCE YTD:</span>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/FUNDAMENTAL-YTD-FEB2015.png\"><img class=\"aligncenter size-full wp-image-5382\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/FUNDAMENTAL-YTD-FEB2015.png\" alt=\"FUNDAMENTAL YTD FEB2015\" width=\"353\" height=\"373\" /></a>\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">3.3.10. – PREMIUM SERVICE OVERALL TRADE SUMMARY MONTH &amp; YTD:</span>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/PREM-SERV-PROFITS1-01032015.png\"><img class=\"aligncenter size-full wp-image-5373\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/PREM-SERV-PROFITS1-01032015.png\" alt=\"PREM SERV PROFITS1 01032015\" width=\"459\" height=\"441\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/PREM-SERV-PROFITS2-01032015.png\"><img class=\"aligncenter size-full wp-image-5374\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/PREM-SERV-PROFITS2-01032015.png\" alt=\"PREM SERV PROFITS2 01032015\" width=\"473\" height=\"431\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n<ol start=\"4\">\r\n	<li><strong><span style=\"text-decoration: underline;\"> PREMIUM SERVICE SUBSCRIBER EXCLUSIVE CONTENT:</span></strong></li>\r\n</ol>\r\n(Section 4 is exclusive PREMIUM SERVICE content only available to PREMIUM SERVICE subscribers)\r\n\r\n<span style=\"text-decoration: underline;\">4.1 EDUCATION:\r\n</span>(The full list of all items and more from this section can be found in the PREMIUM SERVICE website in the Trade Essential area under the EDUCATION tab.)\r\n\r\n<span style=\"text-decoration: underline;\">4.2 THE PREMIUM SERVICE - EXISTING LIVE TRADES:</span>\r\n\r\n<span style=\"text-decoration: underline;\">4.3 THE PREMIUM SERVICE – EXISTING LIMIT ORDERS:</span>\r\n\r\n<span style=\"text-decoration: underline;\">4.4 POTENTIAL TRADES - WHAT CHARTS AM I LOOKING AT?</span>\r\n\r\n<span style=\"text-decoration: underline;\">4.5 MAJOR TRADING PAIRS WITH LONGER-TERM TRENDS MATCHING:</span>\r\n\r\n<span style=\"text-decoration: underline;\">4.6 THE KEY SUPPORT &amp; RESISTANCE LEVELS WITH THE USD MAJORS</span><strong><span style=\"text-decoration: underline;\">:\r\n</span></strong>(This content is now for PREMIUM SERVICE subscribers only, it allows me to refer to existing and future set-ups that form part of the PREMIUM SERVICE subscription)\r\n\r\n&nbsp;\r\n<ol start=\"5\">\r\n	<li><strong><span style=\"text-decoration: underline;\"> THE WEEK AHEAD: -\r\nWHAT AM I THINKING &amp; WHAT AM I LOOKING AT?</span></strong></li>\r\n</ol>\r\n<span style=\"text-decoration: underline;\">5.1 MAJOR FOREX NEWS THIS WEEK THAT INTERESTS ME:</span>\r\n\r\nSUNDAY: CNY – HSBC Final Manufacturing PMi.\r\n\r\nMONDAY: GBP – Manufacturing PMi.\r\nMONDAY: USD – ISM Manufacturing PMi.\r\nMONDAY: AUD – Building Approvals &amp; RBA Rate Statement,\r\n\r\nTUESDAY: GBP – Construction PMi.\r\nTUESDAY: CAD – GDP.\r\nTUESDAY: NZD – GDT Price Index.\r\nTUESDAY: AUD – GDP.\r\n\r\nWEDNESDAY: GBP – Services PMi.\r\nWEDNESDAY: USD – ADP Non-Farm Employment Change.\r\nWEDNESDAY: CAD – BOC Rate Statement.\r\nWEDNESDAY: AUD – Retail Sales &amp; Trade Balance.\r\n\r\nTHURSDAY: GBP – Interest Rate.\r\nTHURSDAY: EUR – Interest Rate and Draghi Press Conference.\r\nTHURSDAY: CAD – IVEY PMi.\r\n\r\nFRIDAY: CAD – Building Permits &amp; Trade Balance.\r\nFRIDAY: USD – Non-Farm Employment Change and Trade Balance.\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">5.2 FINAL THOUGHTS / CLOSING COMMENTS:</span>\r\n\r\nIt is a whopper of a week this week for news. There is a great deal of market moving news items, we should be ready for continued “chop”, but… this is the week we may break the ranges. Many of the currency pairs have been somewhat range bound recently, even though the limits of the ranges may have extended a little, we are still very much trading inside ranges. With all the front line news this week we have the chance to really break out with some big moves.\r\n\r\nThe pick of the news has to be: -\r\n\r\n<strong>RBA - Rate Statement</strong>\r\n<strong>CAD - Rate Statement</strong>\r\n<strong>ECB - Press Conference</strong>\r\n<strong>USD - Non-Farm Payrolls</strong>\r\n\r\nAs always, there will be trades to trade and there will be some great opportunities, please trade in line with your RISK MANAGEMENT parameters from your TRADING PLAN. If you do not have a TRADE PLAN, in my opinion, you should, as this will help you with consistency.\r\n<p style=\"text-align: center;\"><strong>Consistency = longevity in trading and that is a critical goal.\r\nIT IS THE KEY MEASUREMENT</strong></p>\r\nBefore you enter a trade work out the risk, price it in $$$. Place your stop accordingly. PREMIUM SERVICE subscribers have a full library of information on RISK MANAGEMENT, RISK TOLERANCES and POSITION SIZING etc. available for reference 24x7.\r\n\r\nTake care.\r\n\r\nScott Pickering\r\nThe Pip Accumulator\r\nSunday March 1st 2015\r\n\r\nEMAIL / FOLLOW ME AT:\r\ndrivethru@weeklyfxdrivethru.com\r\nTwitter: @pipaccumulator\r\n<span style=\"line-height: 1.5;\">Google+/scottpickering\r\n</span>Tumblr: thepipaccumulator\r\n\r\n<strong><span style=\"text-decoration: underline;\">DISCLAIMER &amp; OTHER DATA:</span></strong>\r\n\r\n<span style=\"text-decoration: underline;\">SUBSCRIBING TO THE “FREE VERSION” OF THE WEEKLY FX DRIVE THRU:</span>\r\n\r\nIf you like what you have almost completed reading and want to have THE WEEKLY FX DRIVE THRU delivered direct to your email inbox next week, here is what you do: -\r\n\r\nGo to my website: - <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a>\r\n\r\nOn the right hand side of the welcome page under my bio “about me” there is a blue box titled SUBSCRIBE TO FREE NEWSLETTER, click on profile and add your email address. It is as simple and straightforward as that.\r\n\r\nI do NOT sell your email data to anyone…do not worry...one less thing to worry about!\r\n\r\n<span style=\"text-decoration: underline;\">THIRD PARTY COMPANIES WITH BANNERS ON MY WEBSITE:</span>\r\n\r\nThere are a small number of companies with banners on my website. In the interests of full disclosure I have a reciprocal business arrangement with these companies to promote their products.\r\n\r\nUnlike many of my competitors, I use the products and services provided by these companies. I will NOT allow any third party on my website unless I am 100% happy that they can back up their promise.\r\n\r\nBy virtue of the fact, I work with these companies almost daily. I am more than confident to have them advertise on my website.\r\n\r\nAny reader who buys products or services from any advertiser via a banner on my website, <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a> will automatically have my help and assistance with any issues that they may have with my partnered advertisers.\r\n\r\n<span style=\"text-decoration: underline;\">TRADING &amp; PERFORMANCES DISCLAIMER:</span>\r\n\r\nFLASH, RADAR and FUNDAMENTAL trade set-ups, “Tweets” and “Trade ideas” that are posted in my blogs or on Twitter are trades and set-ups that interest me. They are provided for training and informational purposes only and should not be interpreted as an offer, solicitation or recommendation of any specific security or investment strategy. Past performance is not indicative of future results. Trading Forex carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to trade any such leveraged products you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with trading on margin, and seek advice from an independent financial adviser if you have any doubts.','DON’T BE CRAZY AND IGNORE USD STRENGTH… THE USD RALLY GOES ON','','inherit','open','closed','','5397-revision-v1','','','2015-03-01 08:26:54','2015-03-01 13:26:54','',5397,'https://weeklyfxdrivethru.com/5397-revision-v1/',0,'revision','',0),(9037,1,'2017-01-31 09:00:19','2017-01-31 14:00:19','','POS1','','inherit','open','closed','','pos1','','','2017-01-31 09:01:42','2017-01-31 14:01:42','',6965,'http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/POS1-.png',0,'attachment','image/png',0),(9038,1,'2017-01-31 09:00:34','2017-01-31 14:00:34','','POS2','','inherit','open','closed','','pos2','','','2017-01-31 09:01:48','2017-01-31 14:01:48','',6965,'http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/POS2.png',0,'attachment','image/png',0),(9039,1,'2017-01-31 09:00:47','2017-01-31 14:00:47','','POS3','','inherit','open','closed','','pos3','','','2017-01-31 09:01:53','2017-01-31 14:01:53','',6965,'http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/POS3.png',0,'attachment','image/png',0),(9048,1,'2017-01-31 12:51:16','2017-01-31 17:51:16','','FUN JANYTD 2017','','inherit','open','closed','','fun-janytd-2017','','','2017-02-01 07:33:35','2017-02-01 12:33:35','',3106,'http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/FUN-JANYTD-2017.png',0,'attachment','image/png',0),(9049,1,'2017-01-31 12:51:26','2017-01-31 17:51:26','','POS1 31012017','','inherit','open','closed','','pos1-31012017','','','2017-02-01 07:34:38','2017-02-01 12:34:38','',6965,'http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/POS1-31012017.png',0,'attachment','image/png',0),(9050,1,'2017-01-31 12:51:39','2017-01-31 17:51:39','','POS2 31012017','','inherit','open','closed','','pos2-31012017','','','2017-02-01 07:34:45','2017-02-01 12:34:45','',6965,'http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/POS2-31012017.png',0,'attachment','image/png',0),(9051,1,'2017-01-31 12:51:52','2017-01-31 17:51:52','','POS3 31012017','','inherit','open','closed','','pos3-31012017','','','2017-02-01 07:34:51','2017-02-01 12:34:51','',6965,'http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/POS3-31012017.png',0,'attachment','image/png',0),(9052,1,'2017-01-31 12:52:04','2017-01-31 17:52:04','','POS JANYTD 2017','','inherit','open','closed','','pos-janytd-2017','','','2017-02-01 07:35:10','2017-02-01 12:35:10','',6965,'http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/POS-JANYTD-2017.png',0,'attachment','image/png',0),(9053,1,'2017-01-31 12:52:14','2017-01-31 17:52:14','','PERF ANALYSIS JAN2017','','inherit','open','closed','','perf-analysis-jan2017','','','2017-02-01 07:39:25','2017-02-01 12:39:25','',5002,'http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/PERF-ANALYSIS-JAN2017.png',0,'attachment','image/png',0),(9054,1,'2017-01-31 12:52:27','2017-01-31 17:52:27','','PIP COMPARISONS JAN2017','','inherit','open','closed','','pip-comparisons-jan2017','','','2017-02-01 07:40:20','2017-02-01 12:40:20','',6869,'http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/PIP-COMPARISONS-JAN2017.png',0,'attachment','image/png',0),(9055,1,'2017-02-01 07:31:24','2017-02-01 12:31:24','<section class=\"one-sixth first\">\r\n<h4>Flash Trades Archives:</h4>\r\n</section><section class=\"five-sixths\">\r\n<div class=\"one-half first\">\r\n<h2>This Month\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/FLASH-31012017.png\"><img class=\"aligncenter size-large wp-image-9045\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/FLASH-31012017-738x1024.png\" alt=\"\" width=\"738\" height=\"1024\" /></a></h2>\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n</div>\r\n<div class=\"one-half\">\r\n<h2>Year to date\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/FLASH-JANYTD2017.png\"><img class=\"aligncenter size-full wp-image-9046\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/FLASH-JANYTD2017.png\" alt=\"\" width=\"856\" height=\"944\" /></a></h2>\r\n&nbsp;\r\n<h2>Previous Years</h2>\r\n<h2><img class=\"aligncenter size-full wp-image-8809\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/12/FLASH-2016-COMPLETE.png\" alt=\"\" width=\"872\" height=\"952\" />\r\n<img class=\"aligncenter wp-image-6987\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/12/FLASH-2015-COMP.png\" alt=\"FLASH 2015 COMP\" width=\"544\" height=\"576\" /></h2>\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/FLASH-2014-COMPLETE.png\"><img class=\"aligncenter size-full wp-image-8859\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/FLASH-2014-COMPLETE.png\" alt=\"\" width=\"700\" height=\"744\" /></a>\r\n<h2></h2>\r\n</div>\r\n</section>','Flash Trades','','inherit','closed','closed','','2711-revision-v1','','','2017-02-01 07:31:24','2017-02-01 12:31:24','',2711,'http://weeklyfxdrivethru.com/2711-revision-v1/',0,'revision','',0),(9085,1,'2017-02-11 07:44:35','2017-02-11 12:44:35','','POS1 12022017','','inherit','open','closed','','pos1-12022017','','','2017-02-11 16:21:06','2017-02-11 21:21:06','',6965,'http://weeklyfxdrivethru.com/wp-content/uploads/2017/02/POS1-12022017.png',0,'attachment','image/png',0),(9086,1,'2017-02-11 07:44:49','2017-02-11 12:44:49','','POS2 12022017','','inherit','open','closed','','pos2-12022017','','','2017-02-11 16:21:14','2017-02-11 21:21:14','',6965,'http://weeklyfxdrivethru.com/wp-content/uploads/2017/02/POS2-12022017.png',0,'attachment','image/png',0),(9087,1,'2017-02-11 07:45:01','2017-02-11 12:45:01','','POS3 12022017','','inherit','open','closed','','pos3-12022017','','','2017-02-11 16:21:20','2017-02-11 21:21:20','',6965,'http://weeklyfxdrivethru.com/wp-content/uploads/2017/02/POS3-12022017.png',0,'attachment','image/png',0),(9088,1,'2017-02-11 07:45:15','2017-02-11 12:45:15','','PS LIMIT ORDERS 12022017','','inherit','open','closed','','ps-limit-orders-12022017','','','2017-02-11 16:13:01','2017-02-11 21:13:01','',9101,'http://weeklyfxdrivethru.com/wp-content/uploads/2017/02/PS-LIMIT-ORDERS-12022017.png',0,'attachment','image/png',0),(9089,1,'2017-02-11 07:45:28','2017-02-11 12:45:28','','PS LIVE TRADES 12022017','','inherit','open','closed','','ps-live-trades-12022017','','','2017-02-11 16:12:45','2017-02-11 21:12:45','',9101,'http://weeklyfxdrivethru.com/wp-content/uploads/2017/02/PS-LIVE-TRADES-12022017.png',0,'attachment','image/png',0),(9090,1,'2017-02-11 07:46:32','2017-02-11 12:46:32','','AUDUSD D 12022017','','inherit','open','closed','','audusd-d-12022017','','','2017-02-11 16:10:32','2017-02-11 21:10:32','',9101,'http://weeklyfxdrivethru.com/wp-content/uploads/2017/02/AUDUSD-D-12022017.png',0,'attachment','image/png',0),(9091,1,'2017-02-11 07:46:43','2017-02-11 12:46:43','','EURUSD D 12022017','','inherit','open','closed','','eurusd-d-12022017','','','2017-02-11 16:10:08','2017-02-11 21:10:08','',9101,'http://weeklyfxdrivethru.com/wp-content/uploads/2017/02/EURUSD-D-12022017.png',0,'attachment','image/png',0),(9092,1,'2017-02-11 07:46:54','2017-02-11 12:46:54','','GBPUSD D 12022017','','inherit','open','closed','','gbpusd-d-12022017','','','2017-02-11 16:10:20','2017-02-11 21:10:20','',9101,'http://weeklyfxdrivethru.com/wp-content/uploads/2017/02/GBPUSD-D-12022017.png',0,'attachment','image/png',0),(9093,1,'2017-02-11 07:47:05','2017-02-11 12:47:05','','NZDUSD D 12022017','','inherit','open','closed','','nzdusd-d-12022017','','','2017-02-11 16:10:44','2017-02-11 21:10:44','',9101,'http://weeklyfxdrivethru.com/wp-content/uploads/2017/02/NZDUSD-D-12022017.png',0,'attachment','image/png',0),(9094,1,'2017-02-11 07:47:14','2017-02-11 12:47:14','','USDCAD D 12022017','','inherit','open','closed','','usdcad-d-12022017','','','2017-02-11 16:10:55','2017-02-11 21:10:55','',9101,'http://weeklyfxdrivethru.com/wp-content/uploads/2017/02/USDCAD-D-12022017.png',0,'attachment','image/png',0),(9095,1,'2017-02-11 07:47:24','2017-02-11 12:47:24','','USDCHF D 12022017','','inherit','open','closed','','usdchf-d-12022017','','','2017-02-11 16:11:05','2017-02-11 21:11:05','',9101,'http://weeklyfxdrivethru.com/wp-content/uploads/2017/02/USDCHF-D-12022017.png',0,'attachment','image/png',0),(9096,1,'2017-02-11 07:47:33','2017-02-11 12:47:33','','USDJPY D 12022017','','inherit','open','closed','','usdjpy-d-12022017','','','2017-02-11 16:11:15','2017-02-11 21:11:15','',9101,'http://weeklyfxdrivethru.com/wp-content/uploads/2017/02/USDJPY-D-12022017.png',0,'attachment','image/png',0),(9097,1,'2017-02-11 07:55:43','2017-02-11 12:55:43','','THE PREMIUM SERVICE LOGO 1920x740','','inherit','open','closed','','the-premium-service-logo-1920x740','','','2017-02-11 07:55:43','2017-02-11 12:55:43','',0,'http://weeklyfxdrivethru.com/wp-content/uploads/2017/02/THE-PREMIUM-SERVICE-LOGO-1920x740.png',0,'attachment','image/png',0),(9098,1,'2017-02-11 07:56:05','2017-02-11 12:56:05','','Currencies Dice On Background Shows Forex','Currency Signs On Green Dice As A Symbol Of Foreign Exchange','inherit','open','closed','','currencies-dice-on-background-shows-forex','','','2017-02-11 07:56:05','2017-02-11 12:56:05','',0,'http://weeklyfxdrivethru.com/wp-content/uploads/2017/02/HD-LOGO-PREM-SERV.jpg',0,'attachment','image/jpeg',0),(9101,1,'2017-02-11 16:15:50','2017-02-11 21:15:50','&nbsp;\r\n<ol>\r\n 	<li><strong>INTRODUCTION:</strong></li>\r\n</ol>\r\nAfter an awful start to 2017 from a trading perspective, as they say “the ship has now steadied itself” (apologies if that is not 100% accurate). I have seen some green/black numbers on my broker account trading balances. It was nothing but red for most of January.\r\n\r\nSo… where do I go from here?\r\n<p style=\"text-align: center;\">“To infinity and beyond”, “The only way is up”,\r\n“Digging in the Dirt”, off to my “Secret World” or maybe “2,000 light years from home?”</p>\r\nThe answer is back to the hard graft taking on board what I have learned about this year’s market so far and the way it reacts based upon TRUMPANTICS.\r\n\r\nIn October 2016, I was speaking with a couple of investors one from Sydney and one from San Francisco on a SKYPE call and we were talking about Forex Trading in general. Whilst I knew that I had adapted a 2016 trading style that was different to 2015, it became apparent that in my first year of the PREMIUM SERVICE 2014, my trade approach was somewhat different than that of 2013. I am not saying that one needs to have camouflage or mimicry abilities each year or for that matter be some sort of chameleon to trade, but these qualities would help!\r\n\r\nBeing able to adapt and change is paramount and a critical success factor for trading longevity. Amongst other trivia such as RISK MANAGEMENT, POSITION SIZING and TRADE PLANS… I jest.\r\n\r\nMoving on…\r\n\r\nThe FX market is without doubt news driven rather than by economic data at the moment. I think that over time TRUMP will understand that he can’t keep delivering ill thought out outbursts on every occasion. He can act business-like when required and I think that sooner or later he will settle down. Notice I placed no timeline here and no; I have not been drinking or smoking something illegal. I write this paragraph because an intelligent person would realize sometimes it is best to say nothing than to create uncertainty. I am making assumptions here, I know.\r\n\r\nI think what helped last week, was that there was a sudden realization that other events around the world mattered. Following a phone call from NICOLAUS COPERNICUS to “THE DONALD” he was told that despite what he thinks he was NOT the centre of the universe.\r\n\r\nThe EUROZONE woes continued with the French elections with Mr. Fillon involved in a scandal concerning jobs for his family, which resulted in far right extremist Marine (Feck off the single currency and leave the EU) Le Pen leading in the opinion polls. With the populist vote on the rise, I would NOT rule out Le Pen with a serious challenge. Stranger things have happened…\r\n\r\nWolfgang aka “the pit bull” Schaeuble (German Finance Minister), has basically opened the door ready to boot GREECE out of the EUROZONE (more on this later in the blog).\r\n\r\nWith other “you’re gonna love it”, “it will be fantastic” news; the antipodean central banks RBA &amp; RBNZ are basically moving away from dovish to neutral. They are far too savvy to go hawkish because they would get steamrollered should Janet Yellen at the FED go hawkish and raise interest rates in the US. Will Yellen raise rates? That is a whole ‘nother’ story as they say.\r\n\r\nBREXIT A50 trigger is moving sweetly through the UK parliamentary process. It has passed through the commons and has now gone for its second reading in the Lords.\r\n\r\nI just have a feeling this weekend’s Sunday papers are going to be a hoot in Europe\r\n\r\nNow some FX broker news…\r\n\r\nNice platform or not; those feckers at FXCM have been caught out and banned from operating in the US.\r\n\r\nThey took a huge amount off me vis-à-vis the CHF peg removal on my GBP/CHF trade. Following the PEG removal and cable FLASH CRASH last year I have heard of so many stories about poor service, that it comes as no surprise.\r\n\r\nIs this the end for FXCM?  I would say no matter what country you operate in many people closed accounts on the US news. If the owners lied to the US regulators, surely they have lied across the globe to other jurisdictions, if they believed for years that they had pulled the wool over US regulators; why wouldn\'t they do the same elsewhere. A leopard never changes its spots.\r\n\r\nThis story will have legs over the coming weeks.\r\n\r\nMore…\r\n\r\nI mentioned last week that I was going to focus in this week’s blog about my transition trades as I adapt to these changing markets. This will possibly be featured in next week’s blog.\r\n\r\nEven more…\r\n\r\nTHE WEEKLY FX DRIVE THRU – LIVE webinars.\r\n\r\nI am now getting to grips with the technology more and more, as time progresses. I am now comfortable with my 30-minute agenda. Basically, I take a “PICKERING” view of the week ahead. I think that having the webinar at the start of the week at the end of day one is possibly the best time to hold such an event. It allows for weekly candle follow through, or not, to take effect; plus, the first daily candle of the week is important in my eyes not just for possible continued sentiment but also for the establishment of any new moves.\r\n\r\n#4 is on Monday 13th February at 5:30PM\r\n<ul>\r\n 	<li>To attend live - you need Google Chrome as a browser.</li>\r\n 	<li>You cannot view on smart phones or tablets, only Laptops and Desktops.</li>\r\n</ul>\r\nThe link is below: -\r\n\r\n<a href=\"http://bit.ly/drivethru-live\">http://bit.ly/drivethru-live</a>\r\n\r\nIf you cannot listen live you can check out my You Tube channel, Scott Pickering Weekly FX Drive Thru for a freshly posted copy of the webinar, usually, within a couple of hours of its completion.\r\n\r\nFinally, in this section…\r\n\r\nIf you would like to be in the monthly draw to win a “FREE 10-WEEK SUBSCRIPTION” to the PREMIUM SERVICE, valued at CAD$1,000.00, all you have to do is subscribe to receive this FREE NEWSLETTER on my website <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a>  On my welcome page just below my cube logo is where you complete your subscription.\r\n\r\nLast week’s winner which I failed to annotate in the blog: brian@******.co.uk is fully up and running.\r\n\r\n<strong> </strong><strong> </strong>\r\n<ol start=\"2\">\r\n 	<li><strong> THE FX MARKET PLACE – LOOKING FORWARD:</strong></li>\r\n</ol>\r\n<strong><u>NOTE:</u></strong> This year, 2017, I am not going to look backwards in this section only forwards. News items / points of interest from the prior week will be covered in the introduction.\r\n\r\n<u>ECONOMIC DATA RELEASES:</u>\r\n\r\n&nbsp;\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/02/ECON-DATA-12022017.png\"><img class=\"aligncenter size-large wp-image-9080\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/02/ECON-DATA-12022017-1024x947.png\" alt=\"\" width=\"1024\" height=\"947\" /></a>\r\n\r\n&nbsp;\r\n\r\n<u>MY THOUGHTS ON THE WEEK AHEAD:</u>\r\n\r\nSeveral items catch my eye this week: -\r\n<ol>\r\n 	<li>USD: Janet Yellen – Testimony to the Senate Banking Committee with her statement of US Monetary Policy.This should be a “doozy” as no matter what she says she could be upstaged by TRUMPANTICS.\r\n\r\nHowever, let’s face simple economic facts. The US economy is performing basically very well and by all accounts “THE DONALD” is going to splash the cash that US does NOT have, to re-build roads, bridges and airports, which in comparison to Quebec where I live are fecking brilliant. If you want to see pot holes in roads, crumbling bridges, crumbling overpasses and crumbling buildings please put Montreal into your vacation plans. It needs money spent on it; big…’bigly’ money.\r\n\r\nSo, when TRUMP talks about airports in poor shape I can see his point, in New York and some other major hub cities. However, with regards to roads, if you travel from Quebec into Ontario or Quebec south into New York state the difference in the quality of the roads is noticeable at the state/province boundary. Just google it you will see what I mean.\r\n\r\nBack to the point…\r\n\r\nYellen should be pushed on normalization of interest rates policy and this will be the issue that creates most volatility. The fact that the FED seems to have already once again pulled back from three rate increases to possibly just two or my opinion maybe just one this year will attract some attention, or rather it should.</li>\r\n 	<li>GBP: Jobs data is always an important economic barometer and something that governments are held very accountable for more than anything else by most voters.There is also CPI and Retail Sales this week from the UK.\r\n\r\nThe data since last June’s BREXIT vote has mainly shown tremendous resilience with the UK economy. However, I fear it is the hard numbers relating to the capital account etc. from the treasury that interests the markets more moving forward.\r\n\r\nWithout doubt in my opinion the withdrawal of capital from the UK and the movement of labour, which is inevitable in my opinion, will be what influences the direction of the cable exchange rate moving forward. For now, we have the opening act to deal with.</li>\r\n</ol>\r\n<ol start=\"3\">\r\n 	<li>AUD: Jobs data on Wednesday night. I want to see the AUD/USD back at 0.8000 so I can short it. Nothing more than that. So please let’s have some great numbers!!</li>\r\n</ol>\r\n<ol start=\"4\">\r\n 	<li>NZD: Retail Sales. Directly opposite to the AUD/USD, I would like the NZD currency to fall off the cliff (nothing against any kiwi’s reading this blog). Regretfully for me, these numbers look like they could be a beat never mind a failure…argh!!</li>\r\n</ol>\r\nAs always bear in mind it has been news rather than economic data moving the markets so check twitter for tweets from “THE DONALD” and be aware of the BREXIT and EUROXZONE possibility to deliver geopolitical news at any time totally unannounced.\r\n\r\nRemember, get your T-Shirt printed “Uncertainty and confusion rules”\r\n\r\n<u>USD MAJORS – “IMMEDIATE” SUPPORT &amp; RESISTANCE with TREND:</u>\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/02/T-CHART-12022017.png\"><img class=\"aligncenter size-large wp-image-9081\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/02/T-CHART-12022017-1024x855.png\" alt=\"\" width=\"1024\" height=\"855\" /></a>\r\n\r\nMy trade charts for the USD majors are below. My thoughts, views and commentary is written on the charts.\r\n\r\nYou will find my charts, hopefully easy to follow. I only use Fibonacci levels, trend lines, confluence points and sometimes chart patterns to identify my high probability trades. If you have any difficulty understanding the points that I am trying to make, please do not hesitate to contact me.\r\n\r\nEUR/USD:\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/02/EURUSD-D-12022017.png\"><img class=\"aligncenter size-large wp-image-9091\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/02/EURUSD-D-12022017-1024x485.png\" alt=\"\" width=\"1024\" height=\"485\" /></a>\r\n\r\n&nbsp;\r\n\r\nGBP/USD:\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/02/GBPUSD-D-12022017.png\"><img class=\"aligncenter size-large wp-image-9092\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/02/GBPUSD-D-12022017-1024x485.png\" alt=\"\" width=\"1024\" height=\"485\" /></a>\r\n\r\n&nbsp;\r\n\r\nAUD/USD:\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/02/AUDUSD-D-12022017.png\"><img class=\"aligncenter size-large wp-image-9090\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/02/AUDUSD-D-12022017-1024x485.png\" alt=\"\" width=\"1024\" height=\"485\" /></a>\r\n\r\n&nbsp;\r\n\r\nNZD/USD:\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/02/NZDUSD-D-12022017.png\"><img class=\"aligncenter size-large wp-image-9093\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/02/NZDUSD-D-12022017-1024x485.png\" alt=\"\" width=\"1024\" height=\"485\" /></a>\r\n\r\n&nbsp;\r\n\r\nUSD/CAD:\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/02/USDCAD-D-12022017.png\"><img class=\"aligncenter size-large wp-image-9094\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/02/USDCAD-D-12022017-1024x485.png\" alt=\"\" width=\"1024\" height=\"485\" /></a>\r\n\r\n&nbsp;\r\n\r\nUSD/CHF:\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/02/USDCHF-D-12022017.png\"><img class=\"aligncenter size-large wp-image-9095\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/02/USDCHF-D-12022017-1024x485.png\" alt=\"\" width=\"1024\" height=\"485\" /></a>\r\n\r\n&nbsp;\r\n\r\nUSD/JPY:\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/02/USDJPY-D-12022017.png\"><img class=\"aligncenter size-large wp-image-9096\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/02/USDJPY-D-12022017-1024x485.png\" alt=\"\" width=\"1024\" height=\"485\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n<ol start=\"3\">\r\n 	<li><strong> THE PREMIUM SERVICE:</strong></li>\r\n</ol>\r\n<u>WHAT IS THE PREMIUM SERVICE:</u>\r\n\r\nThe PREMIUM SERVICE is a subscriber, fee based trade set-up option for Forex traders regardless of experience or background. I provide traders suggested trades, and some market commentary related to open trades or factors within the overall market that have my interest.\r\n\r\nFull details of the PREMIUM SERVICE and costs to subscribe plus the various trade styles and how suggested trade set-ups are communicated can be found on my website landing page at <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a> by selecting THE PREMIUM SERVICE tab.\r\n\r\nAdditional information can be found by clicking TESTIMONIALS, PART-TIME TRADERS and FX PROMOTIONS tabs. To subscribe to THE PREMIUM SERVICE, you will require a valid credit card.\r\n\r\nIf you would like to watch/listen to a c.30-minute PREMIUM SERVICE webinar to learn more about what I can do to help you with your trading. Then click the link below and register. It is FREE… it costs nothing to listen.\r\n\r\n<a href=\"http://www.onlinemeetingnow.com/register/?id=wrklqabmy3\">http://www.onlinemeetingnow.com/register/?id=wrklqabmy3</a>\r\n\r\n&nbsp;\r\n<ol start=\"4\">\r\n 	<li><strong>PREMIUM SERVICE – SUBSCRIBER CONTENT AREA:</strong></li>\r\n</ol>\r\n<u>TRADING REVIEW:</u>\r\n\r\nI am still in transition. I decided to bank $$$ across all trade styles this week and looked to re-load trade set-ups for hopefully repeating trades.\r\n\r\nI have my longer-term strategy in my thoughts which is now predominantly EUR short based and over the coming weeks you will see set ups taking shape with: -\r\n\r\nEUR/USD, USD/JPY, USD/CHF, EUR/JPY, EUR/GBP and GBP/CHF.\r\n\r\nI am still fascinated by the CAD and I am tempted to look very long term with USD/CAD.\r\n\r\nI am too early for the GBP cross rates but from the middle of Q2 I want to get long GBP/NZD, GBP/CAD and GBP/AUD.  I am thinking of placing small long trades at lower levels to pick up spikes lower on BREXIT volatility. I know it sounds crazy but I do think in the second half of 2016, being long the GBP will be the trade. Before you guys leap in. I still believe we must re-test the lows again first or maybe lower to 1.1500… please bear this in mind.\r\n\r\nI spoke to a couple of you this week via the “PLATINUM” reviews and for me I found these quite refreshing and motivating.\r\n\r\nAs I stated on both occasions for Q1 my goal is to get positive with the PREMIUM SERVICE pips tally. I am NOT for want of a better phrase “going all in”. This is a process and an adjustment period. I will try to put as many stakes in the ground as possible, but we must accept we are being pushed and pulled by a crazy man. Technicals and even Fundamentals are sometimes defeated by the nonsense. We should remain strategic but at the same time exercise a high degree of patience.\r\n\r\nI got my head around what needs to be done and I have my 6-week plan until the end of Q1 in place and slowly but surely it will be become more and more obvious to you what I am trying to achieve.\r\n\r\nMany thanks for the continued support.\r\n\r\n<u>MOVING FORWARD:</u>\r\n\r\nWe are still operating in ranges although, the emphasis and sentiment is trying to change.\r\n\r\nAs stated above I have my TRADING PLAN taking shape not just for Q1 but for the remainder of the year and this will be a great year if my thoughts are correct.\r\n\r\nThe joker “TRUMP” is the only card that can screw with it. To combat this my emphasis is not solely based around the USD majors. This at least should give me my edge.\r\n\r\n&nbsp;\r\n\r\n<u>CORE TRADES:</u>\r\n<ol>\r\n 	<li>AUD/NZD: – I am going to exit this CORE POSITION around 1.0800 – 1.1100. My goal will be to place protected stops on whatever trades I have open when the 1.0800 level is passed.</li>\r\n 	<li>EUR/NZD: - I am holding these trades. This currency pair is a straight on RISK ON – RISK OFF trade and I think that as it is such a small position and risk, it is worth just sitting in at the moment. This pair can move 400 pips a day no problem when it gets its mojo on.</li>\r\n 	<li>EUR/USD and USD/CHF: - Core positions now being established and I am looking to add more trades as the month progresses.The bigger picture is that despite encouraging inflation data aside, the EUROZONE is facing major / serious issues ahead.</li>\r\n</ol>\r\n<u>\r\nTHE WEEKLY FX DRIVE THRU – LIVE:</u>\r\n\r\nNext webinar: #4 - Monday February 12th 2017 at 5:30PM EST.\r\n\r\nYou can register on the link below; they will be recorded and distributed after the event.\r\n\r\nTo access the webinar or see the recording you will need Google Chrome as your browser, and, for a short initial period the webinars will NOT play on smart phones or tablets.\r\n\r\nhttp://bit.ly/drivethru-live\r\n\r\nIn addition, I will upload the recoding to my YouTube account “The Weekly FX Drive Thru”. It will be there within a few hours of the webinar finishing.\r\n\r\n<strong> </strong>\r\n\r\n<u>PREMIUM SERVICE - TRADES REVIEW<strong>:</strong></u>\r\n\r\nCURRENT PREMIUM SERVICE - LIVE TRADES:\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/02/PS-LIVE-TRADES-12022017.png\"><img class=\"aligncenter size-large wp-image-9089\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/02/PS-LIVE-TRADES-12022017-789x1024.png\" alt=\"\" width=\"789\" height=\"1024\" /></a>\r\n\r\nCURRENT PREMIUM SERVICE – LIMIT ORDER TRADES:\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/02/PS-LIMIT-ORDERS-12022017.png\"><img class=\"aligncenter size-large wp-image-9088\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/02/PS-LIMIT-ORDERS-12022017-703x1024.png\" alt=\"\" width=\"703\" height=\"1024\" /></a>\r\n\r\n<strong> </strong>\r\n\r\n<strong> </strong>\r\n<ol start=\"5\">\r\n 	<li><strong>THE SOAPBOX:</strong></li>\r\n</ol>\r\n<p style=\"text-align: center;\"><strong>“THE PIT BULL” MOVES IN…\r\n</strong><strong>WILL HIS ACTIONS BE NOTED AS HELPFUL\r\n</strong><strong>IN THE HISTORY BOOKS?</strong></p>\r\nI love Wolfgang Schaeuble aka “The Pit Bull”.\r\n\r\nThe German Finance Minister goes places only “THE DONALD” would go. He is the closest to “THE DONALD” in the EUROZONE with regards sticking his oar in whether its required or not.\r\n\r\nLaugh… Holy Mother of God. The management of the EUROZONE can only be compared to a set of chickens running around a farmyard with their heads cut off.\r\n\r\nWho the hell is Schaeuble to tell a member state what to or what not to do? Every time he produces outbursts like this, it does make outsiders believe that the other 18 members of the single currency union are like provinces of Germany. I totally get his position as Finance Minister of Germany, and without doubt Germany is the powerhouse of the union. However, all members of the union are equal per the core documents and whilst Schaeuble can have his opinions, he isn’t even the leader of Germany and the fact that he sits on the Finance Ministers committee chaired by Jeroen Dijsselbloem with regards to the EUROZONE and its funding of GREECE, to me means he is once again over-stepping his mark.\r\n\r\nHowever, on this occasion I ask was it helpful in the long run and should he have been more vocal in this direction 6 years ago?\r\n\r\nMario Draghi, ECB President, had a similar problem with Ewald Nowotny (Austrian Bank Governor) and Jens Weidman (German Bundesbank Governor) undermining what he was trying to achieve a couple of years ago. It is very noticeable these two ECB board members have shut up of late as it is in the best interests of ECB policy for them to do so.\r\n\r\nIn an interview, the issue of a debt haircut for GREECE came up. Schaeuble answered only as he knows how. It has been widely accepted that Schaeuble was showing GREECE the EUROZONE door.\r\n\r\nFrankly Schaeuble and his counterparts on the committee managed by Dijsselbloem have kicked the GREECE can down the road for years, so maybe now is the time for GREECE to leave the EUROZONE and revert to the “Drachma” away from the single-currency. But, why wasn’t GREECE encouraged to leave before? Why did the EUROZONE Finance Ministers keep lending money, creating more and more conditions that the Tsipras led government has no chance of adhering to?\r\n\r\nMy God, it\'s the Lisbon Treaty once again (Article 50 of BREXIT fame contained in it as well) that states that a “debt cut“ violates EUROZONE rules and a country would have to leave the EURO AREA to have one. The EU leaders must have been on acid or an equivalent when the Lisbon treaty was ushered in!\r\n\r\nSo, GREECE is front and centre once again.\r\n\r\nWill the EUROZONE Finance Ministers finally get GREECE resolved? We are in a Mexican stand-off as I see it from a macro viewpoint.\r\n<ul>\r\n 	<li>The IMF are clear from their position stating that in their opinion GREEK reforms promised to creditors are off track. The Tsipras lead Greek government reject this point of view… no surprise there. This mistrust goes all the way back to 2009.</li>\r\n 	<li>Schaeuble is very kind to GREECE. Do what you said you would do when you received your last bailout and all will be OK. GREECE needs the second round of bailout III money soon. The clock is ticking down.</li>\r\n 	<li>The issue with GREECE is not as much about the debt management as it is about remaining competitive in business. This is very difficult, as most businesses must operate without credit. GREECE has long become almost a cash only business environment. This makes it extremely hard to see growth and it opens black market trading and hides the real economy. How can you govern effectively in this environment?</li>\r\n 	<li>The IMF are reluctant to go further with financial support. If the IMF pull out, the Dutch government have said that without IMF continued support the Netherlands will not participate in any revised or updated Greek bailout.</li>\r\n 	<li>Bond yields in Greece are rising once again and time is running out to get a deal done before the EUROZONE elections take hold and hog the news.</li>\r\n</ul>\r\nWhat for GREECE then?\r\n\r\nA debt haircut is required to enable the country to take control of its finances and move forward. I think I wrote this two maybe three years ago. We are now further down a stony, can ridden road and we have greater uncertainty than ever before.\r\n\r\nCan GREECE survive outside of the EUROZONE?\r\n\r\nThey are lovely people and they have a backbone. They have shown tremendous resilience so far. It is however an absolute bloody disaster that 6/7 years later they are probably going to have to do what they should have done on day one.\r\n\r\nHad GREECE left the single currency back in 2009 where would GREECE Be now? You would have to say probably in better shape. GREECE is the classic example that the EUROZONE ‘one size fits all’ approach does not work.\r\n\r\nNow let’s be clear. GREECE did not help itself at times. However, the best solution is to leave the single currency as soon as possible and take control. There will always be buyers of debt and reverting to monetary policy control allows the freedom that GREECE requires to move forward.\r\n\r\nDo we thank the PIT BULL for elevating the debate?\r\n\r\nHistorians may look kindly on this event when the books are written. It could however get lost in the 2017 bigger story about the EUROZONE / EUROPEAN UNION implosion!\r\n\r\n&nbsp;\r\n<ol start=\"6\">\r\n 	<li><strong> CLOSING THOUGHTS:</strong></li>\r\n</ol>\r\nNothing more to add here, I have said enough except,\r\n\r\nAs usual…\r\n\r\nAlways remember longevity in Forex trading can only be achieved through trading with good RISK and MONEY MANAGEMENT, and above all set your position sizes in accordance with the size of your account and allow for some flexibility.\r\n\r\nTake care, have a great trading week.\r\n\r\nScott Pickering\r\nThe Pip Accumulator\r\nTwitter: @pipaccumulator\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/disclaimer/\">http://weeklyfxdrivethru.com/disclaimer/</a>\r\n\r\nBLOG VERSION: #127 PREMIUM SERVICE\r\nDATE: 12<sup>th</sup> February 2017.\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n&nbsp;','“THE PIT BULL” MOVES IN…','','publish','open','closed','','pit-bull-moves','','','2017-02-11 16:41:18','2017-02-11 21:41:18','',0,'http://weeklyfxdrivethru.com/?post_type=member_posts&#038;p=9101',0,'member_posts','',0),(9102,1,'2017-02-11 16:15:50','2017-02-11 21:15:50','&nbsp;\r\n<ol>\r\n 	<li><strong>INTRODUCTION:</strong></li>\r\n</ol>\r\nAfter an awful start to 2017 from a trading perspective, as they say “the ship has now steadied itself” (apologies if that is not 100% accurate). I have seen some green/black numbers on my broker account trading balances. It was nothing but red for most of January.\r\n\r\nSo… where do I go from here?\r\n<p style=\"text-align: center;\">“To infinity and beyond”, “The only way is up”,\r\n“Digging in the Dirt”, off to my “Secret World” or maybe “2,000 light years from home?”</p>\r\nThe answer is back to the hard graft taking on board what I have learned about this year’s market so far and the way it reacts based upon TRUMPANTICS.\r\n\r\nIn October 2016, I was speaking with a couple of investors one from Sydney and one from San Francisco on a SKYPE call and we were talking about Forex Trading in general. Whilst I knew that I had adapted a 2016 trading style that was different to 2015, it became apparent that in my first year of the PREMIUM SERVICE 2014, my trade approach was somewhat different than that of 2013. I am not saying that one needs to have camouflage or mimicry abilities each year or for that matter be some sort of chameleon to trade, but these qualities would help!\r\n\r\nBeing able to adapt and change is paramount and a critical success factor for trading longevity. Amongst other trivia such as RISK MANAGEMENT, POSITION SIZING and TRADE PLANS… I jest.\r\n\r\nMoving on…\r\n\r\nThe FX market is without doubt news driven rather than by economic data at the moment. I think that over time TRUMP will understand that he can’t keep delivering ill thought out outbursts on every occasion. He can act business-like when required and I think that sooner or later he will settle down. Notice I placed no timeline here and no; I have not been drinking or smoking something illegal. I write this paragraph because an intelligent person would realize sometimes it is best to say nothing than to create uncertainty. I am making assumptions here, I know.\r\n\r\nI think what helped last week, was that there was a sudden realization that other events around the world mattered. Following a phone call from NICOLAUS COPERNICUS to “THE DONALD” he was told that despite what he thinks he was NOT the centre of the universe.\r\n\r\nThe EUROZONE woes continued with the French elections with Mr. Fillon involved in a scandal concerning jobs for his family, which resulted in far right extremist Marine (Feck off the single currency and leave the EU) Le Pen leading in the opinion polls. With the populist vote on the rise, I would NOT rule out Le Pen with a serious challenge. Stranger things have happened…\r\n\r\nWolfgang aka “the pit bull” Schaeuble (German Finance Minister), has basically opened the door ready to boot GREECE out of the EUROZONE (more on this later in the blog).\r\n\r\nWith other “you’re gonna love it”, “it will be fantastic” news; the antipodean central banks RBA &amp; RBNZ are basically moving away from dovish to neutral. They are far too savvy to go hawkish because they would get steamrollered should Janet Yellen at the FED go hawkish and raise interest rates in the US. Will Yellen raise rates? That is a whole ‘nother’ story as they say.\r\n\r\nBREXIT A50 trigger is moving sweetly through the UK parliamentary process. It has passed through the commons and has now gone for its second reading in the Lords.\r\n\r\nI just have a feeling this weekend’s Sunday papers are going to be a hoot in Europe\r\n\r\nNow some FX broker news…\r\n\r\nNice platform or not; those feckers at FXCM have been caught out and banned from operating in the US.\r\n\r\nThey took a huge amount off me vis-à-vis the CHF peg removal on my GBP/CHF trade. Following the PEG removal and cable FLASH CRASH last year I have heard of so many stories about poor service, that it comes as no surprise.\r\n\r\nIs this the end for FXCM?  I would say no matter what country you operate in many people closed accounts on the US news. If the owners lied to the US regulators, surely they have lied across the globe to other jurisdictions, if they believed for years that they had pulled the wool over US regulators; why wouldn\'t they do the same elsewhere. A leopard never changes its spots.\r\n\r\nThis story will have legs over the coming weeks.\r\n\r\nMore…\r\n\r\nI mentioned last week that I was going to focus in this week’s blog about my transition trades as I adapt to these changing markets. This will possibly be featured in next week’s blog.\r\n\r\nEven more…\r\n\r\nTHE WEEKLY FX DRIVE THRU – LIVE webinars.\r\n\r\nI am now getting to grips with the technology more and more, as time progresses. I am now comfortable with my 30-minute agenda. Basically, I take a “PICKERING” view of the week ahead. I think that having the webinar at the start of the week at the end of day one is possibly the best time to hold such an event. It allows for weekly candle follow through, or not, to take effect; plus, the first daily candle of the week is important in my eyes not just for possible continued sentiment but also for the establishment of any new moves.\r\n\r\n#4 is on Monday 13th February at 5:30PM\r\n<ul>\r\n 	<li>To attend live - you need Google Chrome as a browser.</li>\r\n 	<li>You cannot view on smart phones or tablets, only Laptops and Desktops.</li>\r\n</ul>\r\nThe link is below: -\r\n\r\n<a href=\"http://bit.ly/drivethru-live\">http://bit.ly/drivethru-live</a>\r\n\r\nIf you cannot listen live you can check out my You Tube channel, Scott Pickering Weekly FX Drive Thru for a freshly posted copy of the webinar, usually, within a couple of hours of its completion.\r\n\r\nFinally, in this section…\r\n\r\nIf you would like to be in the monthly draw to win a “FREE 10-WEEK SUBSCRIPTION” to the PREMIUM SERVICE, valued at CAD$1,000.00, all you have to do is subscribe to receive this FREE NEWSLETTER on my website <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a>  On my welcome page just below my cube logo is where you complete your subscription.\r\n\r\nLast week’s winner which I failed to annotate in the blog: brian@******.co.uk is fully up and running.\r\n\r\n<strong> </strong><strong> </strong>\r\n<ol start=\"2\">\r\n 	<li><strong> THE FX MARKET PLACE – LOOKING FORWARD:</strong></li>\r\n</ol>\r\n<strong><u>NOTE:</u></strong> This year, 2017, I am not going to look backwards in this section only forwards. News items / points of interest from the prior week will be covered in the introduction.\r\n\r\n<u>ECONOMIC DATA RELEASES:</u>\r\n\r\n&nbsp;\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/02/ECON-DATA-12022017.png\"><img class=\"aligncenter size-large wp-image-9080\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/02/ECON-DATA-12022017-1024x947.png\" alt=\"\" width=\"1024\" height=\"947\" /></a>\r\n\r\n&nbsp;\r\n\r\n<u>MY THOUGHTS ON THE WEEK AHEAD:</u>\r\n\r\nSeveral items catch my eye this week: -\r\n<ol>\r\n 	<li>USD: Janet Yellen – Testimony to the Senate Banking Committee with her statement of US Monetary Policy.\r\n\r\nThis should be a “doozy” as no matter what she says she could be upstaged by TRUMPANTICS.\r\n\r\nHowever, let’s face simple economic facts. The US economy is performing basically very well and by all accounts “THE DONALD” is going to splash the cash that US does NOT have, to re-build roads, bridges and airports, which in comparison to Quebec where I live are fecking brilliant. If you want to see pot holes in roads, crumbling bridges, crumbling overpasses and crumbling buildings please put Montreal into your vacation plans. It needs money spent on it; big…’bigly’ money.\r\n\r\nSo, when TRUMP talks about airports in poor shape I can see his point, in New York and some other major hub cities. However, with regards to roads, if you travel from Quebec into Ontario or Quebec south into New York state the difference in the quality of the roads is noticeable at the state/province boundary. Just google it you will see what I mean.\r\n\r\nBack to the point…\r\n\r\nYellen should be pushed on normalization of interest rates policy and this will be the issue that creates most volatility. The fact that the FED seems to have already once again pulled back from three rate increases to possibly just two or my opinion maybe just one this year will attract some attention, or rather it should.</li>\r\n 	<li>GBP: Jobs data is always an important economic barometer and something that governments are held very accountable for more than anything else by most voters.\r\n\r\nThere is also CPI and Retail Sales this week from the UK.\r\n\r\nThe data since last June’s BREXIT vote has mainly shown tremendous resilience with the UK economy. However, I fear it is the hard numbers relating to the capital account etc. from the treasury that interests the markets more moving forward.\r\n\r\nWithout doubt in my opinion the withdrawal of capital from the UK and the movement of labour, which is inevitable in my opinion, will be what influences the direction of the cable exchange rate moving forward. For now, we have the opening act to deal with.</li>\r\n</ol>\r\n<ol start=\"3\">\r\n 	<li>AUD: Jobs data on Wednesday night. I want to see the AUD/USD back at 0.8000 so I can short it. Nothing more than that. So please let’s have some great numbers!!</li>\r\n</ol>\r\n<ol start=\"4\">\r\n 	<li>NZD: Retail Sales. Directly opposite to the AUD/USD, I would like the NZD currency to fall off the cliff (nothing against any kiwi’s reading this blog). Regretfully for me, these numbers look like they could be a beat never mind a failure…argh!!</li>\r\n</ol>\r\nAs always bear in mind it has been news rather than economic data moving the markets so check twitter for tweets from “THE DONALD” and be aware of the BREXIT and EUROXZONE possibility to deliver geopolitical news at any time totally unannounced.\r\n\r\nRemember, get your T-Shirt printed “Uncertainty and confusion rules”\r\n\r\n<u>USD MAJORS – “IMMEDIATE” SUPPORT &amp; RESISTANCE with TREND:</u>\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/02/T-CHART-12022017.png\"><img class=\"aligncenter size-large wp-image-9081\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/02/T-CHART-12022017-1024x855.png\" alt=\"\" width=\"1024\" height=\"855\" /></a>\r\n\r\nMy trade charts for the USD majors are below. My thoughts, views and commentary is written on the charts.\r\n\r\nYou will find my charts, hopefully easy to follow. I only use Fibonacci levels, trend lines, confluence points and sometimes chart patterns to identify my high probability trades. If you have any difficulty understanding the points that I am trying to make, please do not hesitate to contact me.\r\n\r\nEUR/USD:\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/02/EURUSD-D-12022017.png\"><img class=\"aligncenter size-large wp-image-9091\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/02/EURUSD-D-12022017-1024x485.png\" alt=\"\" width=\"1024\" height=\"485\" /></a>\r\n\r\n&nbsp;\r\n\r\nGBP/USD:\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/02/GBPUSD-D-12022017.png\"><img class=\"aligncenter size-large wp-image-9092\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/02/GBPUSD-D-12022017-1024x485.png\" alt=\"\" width=\"1024\" height=\"485\" /></a>\r\n\r\n&nbsp;\r\n\r\nAUD/USD:\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/02/AUDUSD-D-12022017.png\"><img class=\"aligncenter size-large wp-image-9090\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/02/AUDUSD-D-12022017-1024x485.png\" alt=\"\" width=\"1024\" height=\"485\" /></a>\r\n\r\n&nbsp;\r\n\r\nNZD/USD:\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/02/NZDUSD-D-12022017.png\"><img class=\"aligncenter size-large wp-image-9093\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/02/NZDUSD-D-12022017-1024x485.png\" alt=\"\" width=\"1024\" height=\"485\" /></a>\r\n\r\n&nbsp;\r\n\r\nUSD/CAD:\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/02/USDCAD-D-12022017.png\"><img class=\"aligncenter size-large wp-image-9094\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/02/USDCAD-D-12022017-1024x485.png\" alt=\"\" width=\"1024\" height=\"485\" /></a>\r\n\r\n&nbsp;\r\n\r\nUSD/CHF:\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/02/USDCHF-D-12022017.png\"><img class=\"aligncenter size-large wp-image-9095\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/02/USDCHF-D-12022017-1024x485.png\" alt=\"\" width=\"1024\" height=\"485\" /></a>\r\n\r\n&nbsp;\r\n\r\nUSD/JPY:\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/02/USDJPY-D-12022017.png\"><img class=\"aligncenter size-large wp-image-9096\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/02/USDJPY-D-12022017-1024x485.png\" alt=\"\" width=\"1024\" height=\"485\" /></a>\r\n\r\n<strong>\r\n\r\n</strong>\r\n\r\n&nbsp;\r\n<ol start=\"3\">\r\n 	<li><strong> THE PREMIUM SERVICE:</strong></li>\r\n</ol>\r\n<u>WHAT IS THE PREMIUM SERVICE:</u>\r\n\r\nThe PREMIUM SERVICE is a subscriber, fee based trade set-up option for Forex traders regardless of experience or background. I provide traders suggested trades, and some market commentary related to open trades or factors within the overall market that have my interest.\r\n\r\nFull details of the PREMIUM SERVICE and costs to subscribe plus the various trade styles and how suggested trade set-ups are communicated can be found on my website landing page at <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a> by selecting THE PREMIUM SERVICE tab.\r\n\r\nAdditional information can be found by clicking TESTIMONIALS, PART-TIME TRADERS and FX PROMOTIONS tabs. To subscribe to THE PREMIUM SERVICE, you will require a valid credit card.\r\n\r\nIf you would like to watch/listen to a c.30-minute PREMIUM SERVICE webinar to learn more about what I can do to help you with your trading. Then click the link below and register. It is FREE… it costs nothing to listen.\r\n\r\n<a href=\"http://www.onlinemeetingnow.com/register/?id=wrklqabmy3\">http://www.onlinemeetingnow.com/register/?id=wrklqabmy3</a>\r\n\r\n&nbsp;\r\n<ol start=\"4\">\r\n 	<li><strong>PREMIUM SERVICE – SUBSCRIBER CONTENT AREA:</strong></li>\r\n</ol>\r\n<u>TRADING REVIEW:</u>\r\n\r\nI am still in transition. I decided to bank $$$ across all trade styles this week and looked to re-load trade set-ups for hopefully repeating trades.\r\n\r\nI have my longer-term strategy in my thoughts which is now predominantly EUR short based and over the coming weeks you will see set ups taking shape with: -\r\n\r\nEUR/USD, USD/JPY, USD/CHF, EUR/JPY, EUR/GBP and GBP/CHF.\r\n\r\nI am still fascinated by the CAD and I am tempted to look very long term with USD/CAD.\r\n\r\nI am too early for the GBP cross rates but from the middle of Q2 I want to get long GBP/NZD, GBP/CAD and GBP/AUD.  I am thinking of placing small long trades at lower levels to pick up spikes lower on BREXIT volatility. I know it sounds crazy but I do think in the second half of 2016, being long the GBP will be the trade. Before you guys leap in. I still believe we must re-test the lows again first or maybe lower to 1.1500… please bear this in mind.\r\n\r\nI spoke to a couple of you this week via the “PLATINUM” reviews and for me I found these quite refreshing and motivating.\r\n\r\nAs I stated on both occasions for Q1 my goal is to get positive with the PREMIUM SERVICE pips tally. I am NOT for want of a better phrase “going all in”. This is a process and an adjustment period. I will try to put as many stakes in the ground as possible, but we must accept we are being pushed and pulled by a crazy man. Technicals and even Fundamentals are sometimes defeated by the nonsense. We should remain strategic but at the same time exercise a high degree of patience.\r\n\r\nI got my head around what needs to be done and I have my 6-week plan until the end of Q1 in place and slowly but surely it will be become more and more obvious to you what I am trying to achieve.\r\n\r\nMany thanks for the continued support.\r\n\r\n<u>MOVING FORWARD:</u>\r\n\r\nWe are still operating in ranges although, the emphasis and sentiment is trying to change.\r\n\r\nAs stated above I have my TRADING PLAN taking shape not just for Q1 but for the remainder of the year and this will be a great year if my thoughts are correct.\r\n\r\nThe joker “TRUMP” is the only card that can screw with it. To combat this my emphasis is not solely based around the USD majors. This at least should give me my edge.\r\n\r\n&nbsp;\r\n\r\n<u>CORE TRADES:</u>\r\n<ol>\r\n 	<li>AUD/NZD: – I am going to exit this CORE POSITION around 1.0800 – 1.1100. My goal will be to place protected stops on whatever trades I have open when the 1.0800 level is passed.</li>\r\n 	<li>EUR/NZD: - I am holding these trades. This currency pair is a straight on RISK ON – RISK OFF trade and I think that as it is such a small position and risk, it is worth just sitting in at the moment. This pair can move 400 pips a day no problem when it gets its mojo on.</li>\r\n 	<li>EUR/USD and USD/CHF: - Core positions now being established and I am looking to add more trades as the month progresses.\r\n\r\nThe bigger picture is that despite encouraging inflation data aside, the EUROZONE is facing major / serious issues ahead.</li>\r\n</ol>\r\n<u>\r\nTHE WEEKLY FX DRIVE THRU – LIVE:</u>\r\n\r\nNext webinar: #4 - Monday February 12th 2017 at 5:30PM EST.\r\n\r\nYou can register on the link below; they will be recorded and distributed after the event.\r\n\r\nTo access the webinar or see the recording you will need Google Chrome as your browser, and, for a short initial period the webinars will NOT play on smart phones or tablets.\r\n\r\nhttp://bit.ly/drivethru-live\r\n\r\nIn addition, I will upload the recoding to my YouTube account “The Weekly FX Drive Thru”. It will be there within a few hours of the webinar finishing.\r\n\r\n<strong> </strong>\r\n\r\n<u>PREMIUM SERVICE - TRADES REVIEW<strong>:</strong></u>\r\n\r\nCURRENT PREMIUM SERVICE - LIVE TRADES:\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/02/PS-LIVE-TRADES-12022017.png\"><img class=\"aligncenter size-large wp-image-9089\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/02/PS-LIVE-TRADES-12022017-789x1024.png\" alt=\"\" width=\"789\" height=\"1024\" /></a>\r\n\r\nCURRENT PREMIUM SERVICE – LIMIT ORDER TRADES:\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/02/PS-LIMIT-ORDERS-12022017.png\"><img class=\"aligncenter size-large wp-image-9088\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/02/PS-LIMIT-ORDERS-12022017-703x1024.png\" alt=\"\" width=\"703\" height=\"1024\" /></a>\r\n\r\n<strong> </strong>\r\n\r\n<strong> </strong>\r\n<ol start=\"5\">\r\n 	<li><strong>THE SOAPBOX:</strong></li>\r\n</ol>\r\n<p style=\"text-align: center;\"><strong>“THE PIT BULL” MOVES IN…\r\n</strong><strong>WILL HIS ACTIONS BE NOTED AS HELPFUL\r\n</strong><strong>IN THE HISTORY BOOKS?</strong></p>\r\nI love Wolfgang Schaeuble aka “The Pit Bull”.\r\n\r\nThe German Finance Minister goes places only “THE DONALD” would go. He is the closest to “THE DONALD” in the EUROZONE with regards sticking his oar in whether its required or not.\r\n\r\nLaugh… Holy Mother of God. The management of the EUROZONE can only be compared to a set of chickens running around a farmyard with their heads cut off.\r\n\r\nWho the hell is Schaeuble to tell a member state what to or what not to do? Every time he produces outbursts like this, it does make outsiders believe that the other 18 members of the single currency union are like provinces of Germany. I totally get his position as Finance Minister of Germany, and without doubt Germany is the powerhouse of the union. However, all members of the union are equal per the core documents and whilst Schaeuble can have his opinions, he isn’t even the leader of Germany and the fact that he sits on the Finance Ministers committee chaired by Jeroen Dijsselbloem with regards to the EUROZONE and its funding of GREECE, to me means he is once again over-stepping his mark.\r\n\r\nHowever, on this occasion I ask was it helpful in the long run and should he have been more vocal in this direction 6 years ago?\r\n\r\nMario Draghi, ECB President, had a similar problem with Ewald Nowotny (Austrian Bank Governor) and Jens Weidman (German Bundesbank Governor) undermining what he was trying to achieve a couple of years ago. It is very noticeable these two ECB board members have shut up of late as it is in the best interests of ECB policy for them to do so.\r\n\r\nIn an interview, the issue of a debt haircut for GREECE came up. Schaeuble answered only as he knows how. It has been widely accepted that Schaeuble was showing GREECE the EUROZONE door.\r\n\r\nFrankly Schaeuble and his counterparts on the committee managed by Dijsselbloem have kicked the GREECE can down the road for years, so maybe now is the time for GREECE to leave the EUROZONE and revert to the “Drachma” away from the single-currency. But, why wasn’t GREECE encouraged to leave before? Why did the EUROZONE Finance Ministers keep lending money, creating more and more conditions that the Tsipras led government has no chance of adhering to?\r\n\r\nMy God, it\'s the Lisbon Treaty once again (Article 50 of BREXIT fame contained in it as well) that states that a “debt cut“ violates EUROZONE rules and a country would have to leave the EURO AREA to have one. The EU leaders must have been on acid or an equivalent when the Lisbon treaty was ushered in!\r\n\r\nSo, GREECE is front and centre once again.\r\n\r\nWill the EUROZONE Finance Ministers finally get GREECE resolved? We are in a Mexican stand-off as I see it from a macro viewpoint.\r\n<ul>\r\n 	<li>The IMF are clear from their position stating that in their opinion GREEK reforms promised to creditors are off track. The Tsipras lead Greek government reject this point of view… no surprise there. This mistrust goes all the way back to 2009.</li>\r\n 	<li>Schaeuble is very kind to GREECE. Do what you said you would do when you received your last bailout and all will be OK. GREECE needs the second round of bailout III money soon. The clock is ticking down.</li>\r\n 	<li>The issue with GREECE is not as much about the debt management as it is about remaining competitive in business. This is very difficult, as most businesses must operate without credit. GREECE has long become almost a cash only business environment. This makes it extremely hard to see growth and it opens black market trading and hides the real economy. How can you govern effectively in this environment?</li>\r\n 	<li>The IMF are reluctant to go further with financial support. If the IMF pull out, the Dutch government have said that without IMF continued support the Netherlands will not participate in any revised or updated Greek bailout.</li>\r\n 	<li>Bond yields in Greece are rising once again and time is running out to get a deal done before the EUROZONE elections take hold and hog the news.</li>\r\n</ul>\r\nWhat for GREECE then?\r\n\r\nA debt haircut is required to enable the country to take control of its finances and move forward. I think I wrote this two maybe three years ago. We are now further down a stony, can ridden road and we have greater uncertainty than ever before.\r\n\r\nCan GREECE survive outside of the EUROZONE?\r\n\r\nThey are lovely people and they have a backbone. They have shown tremendous resilience so far. It is however an absolute bloody disaster that 6/7 years later they are probably going to have to do what they should have done on day one.\r\n\r\nHad GREECE left the single currency back in 2009 where would GREECE Be now? You would have to say probably in better shape. GREECE is the classic example that the EUROZONE ‘one size fits all’ approach does not work.\r\n\r\nNow let’s be clear. GREECE did not help itself at times. However, the best solution is to leave the single currency as soon as possible and take control. There will always be buyers of debt and reverting to monetary policy control allows the freedom that GREECE requires to move forward.\r\n\r\nDo we thank the PIT BULL for elevating the debate?\r\n\r\nHistorians may look kindly on this event when the books are written. It could however get lost in the 2017 bigger story about the EUROZONE / EUROPEAN UNION implosion!\r\n\r\n&nbsp;\r\n<ol start=\"6\">\r\n 	<li><strong> CLOSING THOUGHTS:</strong></li>\r\n</ol>\r\nNothing more to add here, I have said enough except,\r\n\r\nAs usual…\r\n\r\nAlways remember longevity in Forex trading can only be achieved through trading with good RISK and MONEY MANAGEMENT, and above all set your position sizes in accordance with the size of your account and allow for some flexibility.\r\n\r\nTake care, have a great trading week.\r\n\r\nScott Pickering\r\nThe Pip Accumulator\r\nTwitter: @pipaccumulator\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/disclaimer/\">http://weeklyfxdrivethru.com/disclaimer/</a>\r\n\r\nBLOG VERSION: #127 PREMIUM SERVICE\r\nDATE: 12<sup>th</sup> February 2017.<strong>\r\n\r\n</strong>\r\n\r\n&nbsp;\r\n\r\n&nbsp;','“THE PIT BULL” MOVES IN…','','inherit','closed','closed','','9101-revision-v1','','','2017-02-11 16:15:50','2017-02-11 21:15:50','',9101,'http://weeklyfxdrivethru.com/9101-revision-v1/',0,'revision','',0),(5431,1,'2015-03-06 17:08:12','2015-03-06 22:08:12','','THE CRITICAL SUCCESS FACTORS YOU NEED TO BECOME A SUCCESSFUL TRADER','','inherit','open','closed','','the-critical-success-factors-you-need-to-become-a-successful-trader','','','2015-03-07 17:35:10','2015-03-07 22:35:10','',2538,'https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/THE-CRITICAL-SUCCESS-FACTORS-YOU-NEED-TO-BECOME-A-SUCCESSFUL-TRADER.pdf',0,'attachment','application/pdf',0),(5452,1,'2015-03-07 17:20:24','2015-03-07 22:20:24','<h3 style=\"text-align: center;\"><strong>THE PREMIUM SERVICE\r\n</strong><strong>(The Home of Single-Lot $$$$ Trading)</strong></h3>\r\n<strong>DATE: 08.03.2015\r\nREFERENCE: #50\r\n</strong><strong>BLOG: THE PREMIUM SERVICE</strong>\r\n\r\n&nbsp;\r\n<ol>\r\n	<li><strong><span style=\"text-decoration: underline;\"> INTRODUCTION / LOOKING BACK OVER THE PAST WEEK:</span></strong></li>\r\n</ol>\r\nThe title of my main article for the blog last week was:\r\n\r\n<strong>DON’T BE CRAZY AND IGNORE USD STRENGTH…\r\n</strong><strong>THE USD RALLY GOES ON</strong>\r\n\r\nWell, quite a good title... as the DXY roadshow rolled onwards and upwards once again.\r\n\r\nAfter NFP we hit just below 98.00. The big 100.00 is next. As with all things that relate to the markets the big round numbers may beckon and it may appear from longer-term charts that there is a Star Trek “tractor beam” sucking the currency pair or whatever towards the objective, but as soon as you go into smaller minute charts you can see the conflict between buyers and sellers as the big number and stop loss runs approach. Will the DXY 100.00 be the same? I have no reason to doubt that it will not. If you look at the chart below, you can see that the move higher, has been swift followed by consolidation, then a swift move again, followed by another period of consolidation.\r\n\r\nIn my opinion, I think we will get close, then consolidate, and then, make one or two runs before passing by 100.00. Lets face facts the USD is well overbought and we need to see maybe a small pullback / consolidation before moving higher.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/DXY-08032015.png\"><img class=\"aligncenter size-large wp-image-5427\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/DXY-08032015-1024x445.png\" alt=\"DXY 08032015\" width=\"1024\" height=\"445\" /></a>\r\n\r\n&nbsp;\r\n\r\n100.00 on the DXY, in my eyes, places the EUR/USD below 1.0750, possibly closer to 1.0650. It is only horizontal support, but it was a level previously (see the chart below).\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/EURUSD-MONTHLY-08032015.png\"><img class=\"aligncenter size-large wp-image-5437\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/EURUSD-MONTHLY-08032015-1024x517.png\" alt=\"EURUSD MONTHLY 08032015\" width=\"1024\" height=\"517\" /></a>\r\n\r\n&nbsp;\r\n\r\nIn last week’s blog I also posted a suggestion of pairs to trade simply based upon Central Bank divergences. Had you blindly just taken these trades at the open on last Sunday through to last week’s close on Friday night the trading result is below: -\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/CENTRAL-BANK-DIVERGENCES-08032015.png\"><img class=\"aligncenter size-full wp-image-5428\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/CENTRAL-BANK-DIVERGENCES-08032015.png\" alt=\"CENTRAL BANK DIVERGENCES 08032015\" width=\"415\" height=\"323\" /></a>\r\n\r\n&nbsp;\r\n\r\nThe chart above is what makes Forex trading so rewarding / frustrating / annoying / satisfying etc… see below.\r\n\r\nFUNDAMENTALLY, following recent Central Bank policy confirmation or changes in monetary policy these trades should have all worked. One can argue placing a commodity cross-rate pair in the original list was a little contentious, but it still should have worked given the differences in Central Bank policies between the BOE and RBA.\r\n\r\nHowever, Forex Trading also allows for oddball moments. The Cable (GBP) is also in a period of uncertainty with elections on the horizon and with its proximity to the EUROZONE (its major trading partner), we saw it drop in sympathy when the single currency came under pressure with relentless selling. Plus, we have to consider the EUR/GBP, the “richest” currency pair to trade from a $$$ perspective. The EUR/GBP is like the EUR/JPY both of these pairs are more of a major currency than the USD/CAD or NZD/USD looking from a volume / liquidity perspective. The cross-rate effects of the EUR/GBP would also weigh on the GBP in general. This would override movements in the GBP/AUD and basically due to the fact that it is a lower liquidity pair it just did its own thing. This pair is usually more associated with a “RISK OFF “ and therefore one would have expected a sell-off after NFP, given that the AUD/USD sold off… it didn’t happen. I think it just fell into the general selling of cable across the board.\r\n\r\nWith regards to the table and the “PIP” opportunities: -\r\n\r\nThe PREMIUM SERVICE went to town on the USD/CHF there is a core position still in play with over 220 pips profit available. This is after having taken lots of pips and banking $$$ through multiple trades along the way for basically the last two weeks or so.\r\n\r\nSome $$$ was also taken from the EUR/USD, but I was pre-occupied believing a bounce was soon to happen given the oversold conditions so for the most times I stayed away. The AUD/USD featured only a couple of times over the past week. With reference to the GBP/AUD the PREMIUM SERVICE is still long with a hedged position in place to minimize RISK.\r\n\r\nMoving on…\r\n\r\nOver the past week we saw the RBA keep interest rates on hold (buggers!), I was looking for them to cut (buggers!).\r\n\r\nThe BOC also kept rates on hold and the CAD strengthened like crazy (buggers!).\r\n\r\nThe ECB press conference saw Mario Draghi announce that from tomorrow March 9<sup>th</sup> 2015, the ECB would start its QE bond-buying program. The comments from Draghi confirmed that it would be an open-ended program if required and that the ECB would purchase negative interest rate bonds as well. These two pieces of news sent the EUR/USD below 1.1000.\r\n\r\nOn Friday, we had Non Farm Payrolls from the U.S. – yet another batch of great numbers. The equity markets sold off on the release as the noises to raise interest rates in the U.S. before the summer this year increased in volume.\r\n\r\nIn my opinion, the Central Bank divergence trade (talked about above) is even more obvious to me. If you are not yet long the USD, it is best to wait a while for a pullback in the DXY. Let it consolidate first to allow you to buy at better prices. Patience is what is required and I think that we need to test recent breakout levels in the DXY to get great entry trades to go long the USD.\r\n\r\nI haven’t mentioned GREECE yet. I think that the four-month loan extension took GREECE off the front page for a few days, however…. There is a EUROGROUP meeting with GREEK officials tomorrow (Monday 9<sup>th</sup> March), and, apparently, Tsipras asked to meet Junker privately ahead of the meeting. Junker allegedly refused the meeting. Therefore, be ready for quotes and sound-bytes from tomorrow onwards.\r\n\r\nAs I have written for the past two weeks the EUROGROUP v GREECE … IT’S NOT OVER YET. There will be more and more talk in line with the mandate that the Greek government was elected on. The average citizen of Greece couldn’t give a crap about what Schaeuble or Merkel says … they are Germans. The GREEK government was elected on a mandate of a better deal with Brussels / Berlin / Frankfurt. If they do not fulfill this mandate, they are out. They are politicians for God’s sake.\r\n\r\nIn my opinion this has NOT EVEN STARTED!!\r\n\r\n&nbsp;\r\n<ol start=\"2\">\r\n	<li><strong><span style=\"text-decoration: underline;\"> WHAT’S ON MY MIND: -\r\nTHE FUNDAMENTAL TRADERS OVERVIEW:</span></strong></li>\r\n</ol>\r\n<em>PLEASE NOTE:</em>\r\n\r\n<em>(I am NOT going to fill this section of the blog with charts; there are for PREMIUM SERVICE subscribers a further 8 charts of trade opportunities in their extended version of the blog which if you were to print a hard copy would generate over 35 pages when you include all the other exclusive content).</em>\r\n\r\n<strong> </strong>\r\n<h3 style=\"text-align: center;\"><strong>DON’T GET SUCKERED INTO USD LONG TRADES NOW</strong></h3>\r\nThe title of this week’s main article may confuse a few readers, maybe a lot, I don’t know, given that for the past who knows how long I have been banging on about the strength of the USD.\r\n\r\nTake it from me I have given enough easy money to brokers over the past seven / eight years and now is not the time to jump in blindly or with your eyes open.\r\n\r\nWhy would I say this?\r\n\r\nWe have just completed a week were the DXY has exploded higher basically on the back of the reality of the ECB quantitative easing (QE) starting from tomorrow.\r\n\r\nWe received the detail from Draghi on several issues that the markets wanted; commencement date, buying bonds with negative yield, no firm deadline of program, and delay on GREECE being part of the program plus the “Walt Disney” moment of the Mickey Mouse economic forecasts that the ECB loves to provide and then revise the knickers off them as we move forward. (It reminds me of the Mervyn King ex. BOE governor whose inflation forecasts were never achieved and he kept making excuses for this for his entire tenure at the BOE. The process is still alive and carries on with Draghi…. !)\r\n\r\nIn addition, the explosive move higher was in no small part due to the USD NFP Jobs data, absolutely incredible numbers…. (If only, Frank Underwood could achieve this with his “America Works” initiative).\r\n\r\nWe have moved to be within touching distance of the triple digit 100.00 level. As mentioned previously, “the algo” traders and systems will not require Viagra this weekend as they assess the potential opportunities that lay ahead.\r\n\r\nIt all sounds nicely bullish doesn’t it… it is nicely bullish. But this does not mean that as traders we have a Stevie Wonder moment.\r\n\r\nThink….\r\n\r\nMassive moves in all the USD majors… previous ranges blown apart…. Equities coming off tops as the realization has finally sunk in with equity traders that interest rates in the U.S. will be going up and personally, I would not rule out one 0.25% increase in June prior to the summer break.\r\n\r\nCommodity prices are dumping GOLD, OIL, COPPER, and IRON ORE.\r\n\r\nChina is consistently buying fewer commodities and lowering growth projections because they are manufacturing less; it is a fecking slowdown.\r\n\r\nThe BOJ is heavily rumoured to be stopping its QE program.\r\n\r\nCentral Bank divergences – it is a race to the bottom.\r\n\r\nDEFLATION is an issue it’s not just in the EUROZONE where 17 out of the 19 single currency users have DEFLATION. It’s widespread throughout the world, and our “ROCK GOD’S” aka Central Bank Presidents or Governors do NOT know how to fight it.\r\n\r\nIt is all USD positive…\r\n\r\nYou need pullbacks to enter and they could be up to 200 pips away from current prices depending on what currency pair you are looking at.\r\n\r\nLets look at the closes this week compared to last week: -\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/USD-MAJOR-CLOSING-PRICE-COMPARED-08032015.png\"><img class=\"aligncenter size-full wp-image-5449\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/USD-MAJOR-CLOSING-PRICE-COMPARED-08032015.png\" alt=\"USD MAJOR CLOSING PRICE COMPARED 08032015\" width=\"388\" height=\"430\" /></a>\r\n\r\n&nbsp;\r\n\r\nAs you can see from the chart above a simple USD long of a single lot trade across all the USD majors would have generated 1,606 pips. Even with a lot of Central Bank speak sometimes against the FED, the USD won through.\r\n\r\nThese moves show who is King… if you take nothing else away from this blog take that alone.\r\n\r\nThese moves will continue. But they cannot, or, rather should not be just a relentless one-way move. There are always external factors away from the USD to consider.\r\n\r\nJust ignore targets in the EUR/USD, GBP/USD and the other pairs and focus on the DXY 100.00 level. You can virtually take it as read that the key levels / targets will co-ordinate as they approach.\r\n\r\nVolatility will be high as we approach key levels. Index and currency traders will know the levels that they have targeted but the bug banks will have huge barriers in place to try and move the markets the way they want it. As retail traders our jobs are to come in on the coat tails of these moves and look at the probabilities of the potential moves ahead.\r\n\r\nI am a USD bull and have been for many, many months (check the previous posts).\r\n\r\nTo be long the USD is in my opinion the only Forex trade right now that makes clear sense, and you could jump on board now but you may require deep pockets to hold onto loss making trades through what should be an inevitable consolidation period with potential for some deep pullbacks, as I said before the USD is overbought.\r\n\r\nMy job now for my subscribers is to suggest pullback entry levels to get long the USD with entry-level trades to enter the major pairs. This process will be outlined later in this blog.\r\n\r\nFor non-subscribers, be patient and do not go all in on the back of the media coverage of the strong USD, which will be hitting CNBC and BLOOMBERG with an even greater intensity next week.\r\n\r\nFridays NFP was a blow to equity market traders, who are having their period of easy money making being pulled from under them.\r\n\r\nThe USD has been a sleeper for 30+ years, more than a generation… No-one trading on Wall Street has seen anything like this before. Every DOW and nearly all the S&amp;P companies keep talking about currency headwinds being an issue. When they were being spoon-fed it was never a tailwind supporting them. This is no surprise, it has been coming for months, it just shows how poor a stock of CEO’s, and CFO’s are running businesses that they do not have the ability to forward plan. All I hear are excuses not solutions.\r\n\r\nWe are entering unchartered territory; we need to buy at the best prices we can to maximize the most of the potential moves ahead.\r\n\r\nPersonally, I will trade from a core position and add subsequent positions to take on-going day trade $$$ profits from. This is a motivational way to trade as your broker account gets $$$ and at the same time the core trade stops are being revised to protect $$$.\r\n\r\nThe last time that I was able to trade like this was believe it or not during parts of the financial crash all those years ago…fádo, fádo, (long long ago).\r\n\r\nAs always do not have “A rush of blood to the head” as Chris Martin would sing, set your entries MAKE A PLAN and TRADE YOUR PLAN.\r\n\r\n&nbsp;\r\n<ol start=\"3\">\r\n	<li><strong></strong><strong><span style=\"text-decoration: underline;\"> THE PREMIUM SERVICE:</span></strong>&nbsp;</li>\r\n</ol>\r\n<strong><span style=\"text-decoration: underline;\">SUMMARY OF PERFORMANCE:</span></strong>\r\n\r\n<span style=\"text-decoration: underline;\">3.1 OVERVIEW:</span>\r\n\r\nFor new readers who may not be aware, I refer to the PREMIUM SERVICE quite a lot in this blog and for more details about what it is, and, how much it costs, you will need to go the welcome page of <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a> At the top of the page there are three drop down menus: PREMIUM SERVICE, PROMOTIONS (if available), SIGN-UP and DISCLAIMER. Further details and how to join are all contained there. You will need at PayPal account to subscribe.\r\n\r\n<span style=\"text-decoration: underline;\">3.2.1 PREMIUM SERVICE – SUBSCRIPTION COSTS:</span>\r\n\r\nFull details regarding the PREMIUM SERVICE can be found on my website <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a>\r\n\r\nOn the welcome page there are a series of TABS at the top of the page that provide a summary of what the PREMIUM SERVICE is about and what you receive for your subscription.\r\n\r\nTHE 2015 SUBSCRIPTION BREAKDOWN IS AS FOLLOWS: -\r\n\r\n10 weeks - $200.00\r\n20 weeks - $350.00\r\n40 weeks - $500.00\r\n\r\n<span style=\"text-decoration: underline;\">3.2.2. PREMIUM SERVICE – CHANGES IN SUBSCRIPTION VARIABLES (INCLUDING COMMUNICATION OPTIONS AND PRICING / COSTS):</span>\r\n\r\nIf you recall, towards the end of 2014, I blogged about possible, potential changes for the PREMIUM SERVICE in 2015. I had several website options, in particular, that I did not complete. The main reason that I have held off is related to deciding upon what to do regarding space issues.\r\n\r\nLooking into possible changes / improvements, believe it or not sparked the wider ranging review to explore the possible paths forward looking ahead 2/3 years.\r\n\r\nOne of the things I decided to do to help me in my decision process about how things should look moving forward was to look at competitors.\r\n\r\nSo over the past two / three weeks, I have had research carried out on lead based Forex service providers. This turned out to be just a starting point. The research became much wider embracing many aspects of what I currently do, what I had hoped to do in future and much, much more.\r\n\r\nMy GOD….\r\n\r\nThe volumes of information, the number of companies / individuals involved… the pricing… what you receive for your subscription etc. is so varied, so complex to categorize at times that it is proving to be an enormous exercise.\r\n\r\nReviewing my options about how I move forward is not just about cost. This is also about my own personal work / life balance. I am presently living in Canada and living / trading European and North American sessions and being around for early Asian sessions as well…. that\'s about 18 hours a day!! I love it, I really love trading Forex and being close to my screens when news breaks or currency pairs move wildly but it’s plain crazy, and, with technology and other alternatives I want to streamline several “Front of the house and backroom” functions.\r\n\r\nThe process moving forward involves: -\r\n<ul>\r\n	<li>COMMUNICATION and REPORTING OPTIONS</li>\r\n	<li>WEBSITE OPTIONS and CAPABILITIES</li>\r\n	<li>PRICE and TIERED SUBSCRIPTIONS</li>\r\n	<li>TRAINING and MENTORING</li>\r\n	<li>PARTNERSHIP PROGRAMS and INITIATIVES</li>\r\n</ul>\r\nThe list is wider and very interesting, if I was still in the corporate world, but I have been reducing the categories…I am me - NOT Goldman Sachs or Citi.\r\n\r\nPersonally, I do not want to over-complicate “ subscriptions” by having various levels of subscribers. I prefer the “all-in” approach, but changes will be happening across the board. But nothing is off limits.\r\n\r\nFor existing subscribers there will be a questionnaire released as soon as the research is completed to obtain your views.\r\n\r\nFrom a timing perspective, changes should start to appear I think possibly as early as April, after the first quarter has ended. Watch this space for updates.\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">3.3.1. TRADING REVIEW OF ACTIVITY and SUMMARY OF PERFORMANCE:</span>\r\n\r\nLast week I made the decision based upon the lack of inter-market and inter-currency correlations and what I saw as unreal market divergences to close off all bar one of the commodity cross rate pairs. The EUR/AUD, GBP/AUD, EUR/NZD, GBP/NZD and EUR/CAD were all closed. Whilst I had all of these trades hedged I still posted a 720 pips loss for those 5 trades. The GBP/CAD I retained as I felt that this pair offered the best bullish overall pattern.\r\n\r\nThe day after I closed the trades correlations and divergences returned back to almost normal in my opinion and of course the trades started to bottom out. After NFP they had all recovered quite a margin off their lows. Last week’s NFP was probably the easiest one to trade for some time; it really was directional and most of the time relentless.\r\n\r\nDo not panic if you did not fully participate in NFP (I didn’t either), I have a mixed performance on NFP and the Monday / Tuesday after and I have now made it a policy to trade extremely light around these days.\r\n\r\nHowever: -\r\n<ul>\r\n	<li>There will be pullbacks if you missed the big moves.</li>\r\n	<li>This is Forex levels are always tested.</li>\r\n	<li>It’s all about looking at charts trying to figure out what are the key levels.</li>\r\n	<li>There are always ‘High Probability” trades after NFP.</li>\r\n	<li>It’s all about patience. Forex is a long distance marathon not a 100-metre dash.</li>\r\n	<li>Measure your performance by the month, quarters if you take longer-term views.</li>\r\n</ul>\r\nTaking a step back…\r\n\r\nTrading this week was generally good; I re-cooped all of the 720-pip loss referred to above. I have posted 614 pips on closed trades, plus I have a good number of pips in trades that have been carried forward from last week into this week. Barring a crisis at the open later today, all things are positive looking forward into next week.\r\n\r\nMy comments from last week regarding my RADAR TRADE set-ups have not been followed through with yet. Only two RADAR TRADES were completed last week, both profitable. Unfortunately this is not a number from which to draw conclusions from.\r\n\r\nLast week there were 6 new trades that closed and all were profitable. Happy Days. However, when you add the 5 x FUNDAMENTAL commodity cross-rate trades, these were the only losing trades to close during last week the $$$$ return from the PREMIUM SERVICE trades year to date reduced by $1,060.00. I am delighted though, to have generated over 600 closed pips in the week to offset the 720 that were lost on the commodity cross rate trades.\r\n\r\nThe usual summary charts detailing the week and year to date performances, are below: -\r\n\r\n<span style=\"text-decoration: underline;\">3.3.2. – PREMIUM SERVICE PROFIT/LOSS RATIOS:</span>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/PROFIT-LOSS-RATIO-08032015.png\"><img class=\"aligncenter size-full wp-image-5418\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/PROFIT-LOSS-RATIO-08032015.png\" alt=\"PROFIT-LOSS RATIO 08032015\" width=\"403\" height=\"583\" /></a>\r\n\r\n<span style=\"text-decoration: underline;\">3.3.3. – PREMIUM SERVICE RISK/REWARD ANALYSIS:</span>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/RISK-REWARD-08032015.png\"><img class=\"aligncenter size-full wp-image-5419\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/RISK-REWARD-08032015.png\" alt=\"RISK-REWARD 08032015\" width=\"440\" height=\"549\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">3.3.4. – PREMIUM SERVICE OVERALL TRADE SUMMARY MONTH &amp; YTD:</span>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/PREM-SERV-PROFITS1-08032015.png\"><img class=\"aligncenter size-full wp-image-5420\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/PREM-SERV-PROFITS1-08032015.png\" alt=\"PREM SERV PROFITS1 08032015\" width=\"462\" height=\"430\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/PREM-SERV-PROFITS2-08032015.png\"><img class=\"aligncenter size-full wp-image-5421\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/PREM-SERV-PROFITS2-08032015.png\" alt=\"PREM SERV PROFITS2 08032015\" width=\"467\" height=\"421\" /></a>\r\n\r\n&nbsp;\r\n<ol start=\"4\">\r\n	<li><strong><span style=\"text-decoration: underline;\"> PREMIUM SERVICE SUBSCRIBER EXCLUSIVE CONTENT:</span></strong></li>\r\n</ol>\r\n(Section 4 is exclusive PREMIUM SERVICE content only available to PREMIUM SERVICE subscribers)\r\n\r\n<span style=\"text-decoration: underline;\">4.1 EDUCATION:\r\n</span>(The full list of all items and more from this section can be found in the PREMIUM SERVICE website in the Trade Essential area under the EDUCATION tab.)\r\n<p style=\"text-align: center;\"><strong>THE CRITICAL SUCCESS FACTORS YOU NEED TO BECOME A SUCCESSFUL TRADER.</strong></p>\r\n<strong>STRATEGY</strong>: <strong>- </strong>There are so many different strategies: value, growth, momentum, short selling, etc. Find one that fits your personality and do your best to master it. The fastest way to learn is to study success. In other words, find someone who is successful at the strategy you like, and then mimic them with your own style. Another key is to recognize when the market environment is not conducive to your strategy and make the proper adjustments.\r\n\r\n<strong>CONFIDENCE</strong>: - If you don\'t have confidence, you have very little chance of succeeding. This doesn’t just apply to trading; it applies to EVERYTHING in life (business, athletics, relationships etc.). With regards to trading, you have to believe in what you are doing and not be afraid to make mistakes. The key is to learn from them, make adjustments and constantly reevaluate your progress.\r\n\r\n<strong>PRODUCT FOCUS</strong>: - There are so many different trading vehicles, like most things in life it is better to be the master of one than a jack of all trades across several different trading vehicles. We are FOREX traders.\r\n\r\n<strong>KNOW YOUR TIME FRAME: -</strong> You must find a timeframe that fits your personality. If you are too nervous, maybe short-term trading isn’t for you. Everyone wants to make tons of money in the market really fast, but keep in mind that is not a healthy approach. Most people with this mindset tend to be “boom and bust” traders. They make a bunch of money and eventually blow up. If you are truly passionate about trading and hope to be in the game for a long time I recommend focusing on a slow and steady approach.\r\n\r\n<strong>ABILITY TO MAKE DECISIONS: -</strong> If you go to McDonalds, stare at the menu for 10 minutes and still can’t decide what to order … then you have NO shot as a trader. You HAVE to be able to make decisions. You can’t hesitate all the time and trade with fear. Who cares if you make a bad decision, just MAKE ONE!!! If you are wrong, you will learn from it and make a better decision next time. As a motivational speaker would say “Good decisions come from experience, and experience comes from bad decisions.” The key is to stop trading with so many fears and MAKE a decision. Who knows? You might end up making the right choice, which will increase your confidence and enhance your ability to make sound decisions in the future.\r\n\r\n<strong>CONVICTION: -</strong> This is very similar to confidence, but what I am referring to specifically is to have conviction in your ideas. It amazes me how many people will buy a stock just because someone on TV or Twitter mentions it. Don’t get me wrong I love to listen to ideas, but it has to fit my strategy in order for me to buy it. Same thing applies when someone says something negative about a trade you are in. Don’t be so easily swayed or talked out of your positions. Have conviction and let the MARKET prove you right or wrong! If you did your research to enter the trade and if nothing has fundamentally changed – stick with it.\r\n\r\n<strong>ABILITY TO CUT LOSSES: -</strong> I’ve studied the best traders in history and they all have the same number one rule: CUT YOUR LOSSES! As a Trader, think of your cash as your inventory. If you can’t cut losses quickly, eventually they get bigger and bigger, and you will have no inventory left to work with. I have a strong conviction in my ideas but when the MARKET proves me wrong, I let go of my ego, cut my losses and move on.\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">4.2 THE PREMIUM SERVICE - EXISTING LIVE TRADES:</span>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/PS-LIVE-TRADES-08032015.png\"><img class=\"aligncenter size-full wp-image-5429\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/PS-LIVE-TRADES-08032015.png\" alt=\"PS LIVE TRADES 08032015\" width=\"717\" height=\"477\" /></a>\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">4.3 THE PREMIUM SERVICE – EXISTING LIMIT ORDERS:</span>\r\n\r\nNone. No spread sheet this week.\r\n\r\n<span style=\"text-decoration: underline;\">PLEASE NOTE:</span>\r\n\r\nRemember position sizes for suggested FUNDAMENTAL TRADES should be much smaller than usual, maybe only 10%-15% of your normal trading position size. It is only when we add to our positions that the fun begins. All FUNDAMENTAL trades posted via email contain a second page with details of where I will add trades and when and where stops are moved, the Stair Stepping Stop Protection (SSSP) is self-explanatory and I hope useful. Using this grows your trading position and helps protect the profits made, should the trade gain traction. In addition, I have added some detail on my HEDGING approach as well to the second FUNDAMENTAL TRADE alert page. More detailed information on HEDGING can be found inside the PREMIUM SERVICE website under the EDUCATION tab – Trading Essentials.\r\n\r\nI view the commodity cross-rate pairs as bonus trades away from the USD majors and over the year they can be very profitable. This is why I have a separate broker for commodity cross-RATE PAIR trades. It gives me an immediate measurement of performance without the need to extrapolate data.\r\n\r\n<span style=\"text-decoration: underline;\">4.4 POTENTIAL TRADES - WHAT CHARTS AM I LOOKING AT?</span>\r\n\r\nI have been asked to have more charts in the blog. In particular the ones that I am working on and looking at because they catch my eye that may become potential trades in the trading sessions ahead. All the charts contain my thoughts. I will tweet and email as soon as these possible trades become LIMIT ORDERS.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/EURUSD-MONTHLY-PREMIUM-SERVICE-08032015.png\"><img class=\"aligncenter size-large wp-image-5436\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/EURUSD-MONTHLY-PREMIUM-SERVICE-08032015-1024x517.png\" alt=\"EURUSD MONTHLY PREMIUM SERVICE 08032015\" width=\"1024\" height=\"517\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/GBPUSD-DAILY-08032015.png\"><img class=\"aligncenter size-large wp-image-5434\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/GBPUSD-DAILY-08032015-1024x517.png\" alt=\"GBPUSD DAILY 08032015\" width=\"1024\" height=\"517\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/NZDUSD-DAILY-08032015.png\"><img class=\"aligncenter size-large wp-image-5433\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/NZDUSD-DAILY-08032015-1024x517.png\" alt=\"NZDUSD DAILY 08032015\" width=\"1024\" height=\"517\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/USDCAD-240M-08032015.png\"><img class=\"aligncenter size-large wp-image-5432\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/USDCAD-240M-08032015-1024x517.png\" alt=\"USDCAD 240M 08032015\" width=\"1024\" height=\"517\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/GBPCHF-240M-08032015.png\"><img class=\"aligncenter size-large wp-image-5435\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/GBPCHF-240M-08032015-1024x517.png\" alt=\"GBPCHF 240M 08032015\" width=\"1024\" height=\"517\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/EURJPY-DAILY-08032015.png\"><img class=\"aligncenter size-large wp-image-5438\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/EURJPY-DAILY-08032015-1024x517.png\" alt=\"EURJPY DAILY 08032015\" width=\"1024\" height=\"517\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/EURGBP-MONTHLY-08032015.png\"><img class=\"aligncenter size-large wp-image-5439\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/EURGBP-MONTHLY-08032015-1024x517.png\" alt=\"EURGBP MONTHLY 08032015\" width=\"1024\" height=\"517\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/AUDUSD-DAILY-08032015.png\"><img class=\"aligncenter size-large wp-image-5440\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/AUDUSD-DAILY-08032015-1024x517.png\" alt=\"AUDUSD DAILY 08032015\" width=\"1024\" height=\"517\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">4.5 MAJOR TRADING PAIRS WITH LONGER-TERM TRENDS MATCHING:</span>\r\n\r\nThe following currency pairs have Short Term (DAILY), Medium Term (WEEKLY) and Long Term (MONTHLY) charts all trending in the same direction.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/TRENDING-PAIRS-08032015.png\"><img class=\"aligncenter size-full wp-image-5430\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/TRENDING-PAIRS-08032015.png\" alt=\"TRENDING PAIRS 08032015\" width=\"405\" height=\"511\" /></a>\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">4.6 THE KEY SUPPORT &amp; RESISTANCE LEVELS WITH THE USD MAJORS</span><strong><span style=\"text-decoration: underline;\">:\r\n</span></strong>(This content is now for PREMIUM SERVICE subscribers only, it allows me to refer to existing and future set-ups that form part of the PREMIUM SERVICE subscription)<strong> </strong>\r\n\r\n<strong>EUR/USD: Closing Price 1.0843.</strong> In the past seven days we finally saw the EUR/USD break lower to the tune of almost 350 pips. It can now be fair to say that the easy money has been made. The pair is soooooo oversold its crazy. I am in the camp of that there has to be a bounce, relentless selling cannot continue. Looking around at Fibonacci extensions 1.0750 would appear to be the next support level. Looking farther afield we are really working in round numbers. But I will say this, if we break below 1.0500 this year…the run to parity will be RELENTLESS and oversold conditions will require a new definition. However, for this week; support is at 1.0750 and I am a seller back at 1.1030, but resistance I suppose has to be noted however minimal at 1.0900. Bear in mind GREECE…it’s like playing the joker.\r\n\r\n<strong>GBP/USD: Closing Price 1.5039</strong>. I will be over this pair like a rash from the European open tomorrow, maybe earlier. 1.5000 is really do or die. There is a growing uncertainty in the UK with general elections due. UKIP has the Tories on the back foot and Cameron is ducking out of TV electoral debates. Cable is suffering from this and the EUROZONE story; the EUR/GBP is another pair I want to revisit again this week. Cable strongly rejected a trend line break last week over 1.5480; it took longs to the woodshed. If 1.5000 gives way we are looking back at mid 1.40’s. For this week support is 1.5000 then 1.4870. Resistance is at 1.5080.\r\n\r\n<strong>AUD/USD: Closing Price 0.7715</strong>. I was spooked on this pair last week. I kept reading about trend line breaks higher and people getting long. Basic Forex mistake… TRADE YOUR FECKING PLAN…and ignore the rest of the world. This pair however, in my defence, was kept elevated last week by good Australian data. We have the AUD jobs report this week. Longer–term I see this pair at 0.7000. I just think we have a left and right hand at play…and neither appears coordinated to me. 0.7620 previous support must now be used in my opinion and resistance is good at 0.7740 then 0.7860, which if given another chance is my preferred area to short from.\r\n\r\n<strong>NZD/USD: Closing Price 0.7360</strong>. We have finally broken lower out of the range (a 200-pip move lower in the week), which has kept this pair contained for weeks. On the horizon we have “Wheeler the bloody dealer”, talks one argument and his actions do the opposite. I am going to try and stay away from this pair until after the RBNZ on Wednesday. I do find this pair of late very, VERY annoying.\r\n\r\n<strong>USD/CAD: Closing Price 1.2620.</strong> I finally made some pips and great $$$ from this pair last week. The oil proxy rampage continues and therefore the support and resistance levels are still wide at 1.2350/1.2400 to 1.2720/1/2800.\r\n\r\n<strong>USD/CHF: Closing Price 0.9855</strong>. The stealth trade continues…. From all my accounts mucho $$$ and pips on this pair. I noticed last week at one time I had 14 long trades in play across my accounts. Last week I closed and re-established a core position. After parity… who knows, but let’s deal with 0.9700 to 1.000 as the levels for now.\r\n\r\n<strong>USD/JPY: Closing Price 120.79. </strong> There were a lot of commentaries last week about shorting at 120.40 back towards 118.40. NFP tore that trade apart. I still believe that equities are toppy and the JPY divergences with equities and the Nikkei will have an effect soon. I want to short this pair, I think!! For now support is at 119.50 and resistance at 121.40.\r\n\r\n&nbsp;\r\n<ol start=\"5\">\r\n	<li><strong><span style=\"text-decoration: underline;\"> THE WEEK AHEAD: -\r\nWHAT AM I THINKING &amp; WHAT AM I LOOKING AT?</span></strong></li>\r\n</ol>\r\n<span style=\"text-decoration: underline;\">5.1 MAJOR FOREX NEWS THIS WEEK THAT INTERESTS ME:</span>\r\nSUNDAY: N/A.\r\n\r\nMONDAY: AUD – NAB Business Confidence.\r\nMONDAY: CNY – CPi and Trade Balance.\r\n\r\nTUESDAY: N/A.\r\n\r\nWEDNESDAY: NZD – RBNZ Cash Rate, Policy Statement &amp; Press Conference.\r\nWEDNESDAY: AUD – Employment Data.\r\n\r\nTHURSDAY: USD – Core Retail Sales.\r\n\r\nFRIDAY: CAD – Employment Data.\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">5.2 FINAL THOUGHTS / CLOSING COMMENTS:</span>\r\n\r\nChinese CPI and Trade Balance, CAD and AUD Employment Data plus U.S. Core Retail sales are on the agenda for news items this week, but the pick of the events has to be the RBNZ interest rate announcement, statement and press conference.\r\n\r\nI recall writing a few weeks ago that I believed that a trending market would return soon. I still believe that it will but I really hope that we do not have to wait until the Fed raises interest rates before we see it. The USD strength story will no doubt dominate the likes of CNBC and Bloomberg TV and the fact that a big 100.00 number looms you can imagine that they will soon start to talk about it more.\r\n\r\nAs we edge closer to 100.00 on the DXY, I fear that we will reach yet another period of chop, chop, chop in the market as buyers and sellers battle it out for supremacy. This period of consolidation may be painful to trade and may last for a week or so looking back at previous sideways moves in the DXY.\r\n\r\nWe will have opportunities to make $$$, we just have to be alert and careful.\r\n\r\nAs always, there will be trades to trade and there will be some great opportunities, please trade in line with your RISK MANAGEMENT parameters from your TRADING PLAN. If you do not have a TRADE PLAN, in my opinion, you should, as this will help you with consistency.\r\n<p style=\"text-align: center;\"><strong>Consistency = longevity in trading and that is a critical goal.\r\nIT IS THE KEY MEASUREMENT</strong></p>\r\nBefore you enter a trade work out the risk, price it in $$$. Place your stop accordingly. PREMIUM SERVICE subscribers have a full library of information on RISK MANAGEMENT, RISK TOLERANCES and POSITION SIZING etc. available for reference 24x7.\r\n\r\nTake care.\r\n\r\nScott Pickering\r\nThe Pip Accumulator\r\nSunday March 8th 2015\r\n\r\nEMAIL / FOLLOW ME AT:\r\npremiumservice@weeklyfxdrivethru.com\r\nTwitter: @pipaccumulator\r\nTwitter: @ThePremService\r\n<span style=\"line-height: 1.5;\">Google+/scottpickering\r\ngoogle.com/+ScottPickering\r\n</span>Tumblr: thepipaccumulator\r\n\r\n&nbsp;\r\n\r\n<strong><span style=\"text-decoration: underline;\">DISCLAIMER &amp; OTHER DATA:</span></strong>\r\n\r\n<span style=\"text-decoration: underline;\">SUBSCRIBING TO THE “FREE VERSION” OF THE WEEKLY FX DRIVE THRU:</span>\r\n\r\nIf you like what you have almost completed reading and want to have THE WEEKLY FX DRIVE THRU delivered direct to your email inbox next week, here is what you do: -\r\n\r\nGo to my website: - www.weeklyfxdrivethru.com\r\n\r\nOn the right hand side of the welcome page under my bio “about me” there is a blue box titled SUBSCRIBE TO FREE NEWSLETTER, click on profile and add your email address. It is as simple and straightforward as that.\r\n\r\nI do NOT sell your email data to anyone…do not worry...one less thing to worry about!\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">THIRD PARTY COMPANIES WITH BANNERS ON MY WEBSITE:</span>\r\n\r\nThere are a small number of companies with banners on my website. In the interests of full disclosure I have a reciprocal business arrangement with these companies to promote their products.\r\n\r\nUnlike many of my competitors, I use the products and services provided by these companies. I will NOT allow any third party on my website unless I am 100% happy that they can back up their promise.\r\n\r\nBy virtue of the fact, I work with these companies almost daily. I am more than confident to have them advertise on my website.\r\n\r\nAny reader who buys products or services from any advertiser via a banner on my website, <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a> will automatically have my help and assistance with any issues that they may have with my partnered advertisers.\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">TRADING &amp; PERFORMANCES DISCLAIMER:</span>\r\n\r\nFLASH, RADAR and FUNDAMENTAL trade set-ups, “Tweets” and “Trade ideas” that are posted in my blogs or on Twitter are trades and set-ups that interest me. They are provided for training and informational purposes only and should not be interpreted as an offer, solicitation or recommendation of any specific security or investment strategy. Past performance is not indicative of future results. Trading Forex carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to trade any such leveraged products you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with trading on margin, and seek advice from an independent financial adviser if you have any doubts.','DON\'T GET SUCKERED INTO USD LONG TRADES NOW','','publish','open','closed','','dont-get-suckered-into-usd-long-trades-now','','','2015-03-07 17:20:24','2015-03-07 22:20:24','',0,'https://weeklyfxdrivethru.com/?post_type=member_posts&#038;p=5452',0,'member_posts','',0),(5453,1,'2015-03-07 17:18:12','2015-03-07 22:18:12','<h3 style=\"text-align: center;\"><strong>THE PREMIUM SERVICE\r\n</strong><strong>(The Home of Single-Lot $$$$ Trading)</strong></h3>\r\n<strong>DATE: 08.03.2015\r\nREFERENCE: #50\r\n</strong><strong>BLOG: THE PREMIUM SERVICE</strong>\r\n\r\n&nbsp;\r\n<ol>\r\n	<li><strong><span style=\"text-decoration: underline;\"> INTRODUCTION / LOOKING BACK OVER THE PAST WEEK:</span></strong></li>\r\n</ol>\r\nThe title of my main article for the blog last week was:\r\n\r\n<strong>DON’T BE CRAZY AND IGNORE USD STRENGTH…\r\n</strong><strong>THE USD RALLY GOES ON</strong>\r\n\r\nWell, quite a good title... as the DXY roadshow rolled onwards and upwards once again.\r\n\r\nAfter NFP we hit just below 98.00. The big 100.00 is next. As with all things that relate to the markets the big round numbers may beckon and it may appear from longer-term charts that there is a Star Trek “tractor beam” sucking the currency pair or whatever towards the objective, but as soon as you go into smaller minute charts you can see the conflict between buyers and sellers as the big number and stop loss runs approach. Will the DXY 100.00 be the same? I have no reason to doubt that it will not. If you look at the chart below, you can see that the move higher, has been swift followed by consolidation, then a swift move again, followed by another period of consolidation.\r\n\r\nIn my opinion, I think we will get close, then consolidate, and then, make one or two runs before passing by 100.00. Lets face facts the USD is well overbought and we need to see maybe a small pullback / consolidation before moving higher.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/DXY-08032015.png\"><img class=\"aligncenter size-large wp-image-5427\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/DXY-08032015-1024x445.png\" alt=\"DXY 08032015\" width=\"1024\" height=\"445\" /></a>\r\n\r\n&nbsp;\r\n\r\n100.00 on the DXY, in my eyes, places the EUR/USD below 1.0750, possibly closer to 1.0650. It is only horizontal support, but it was a level previously (see the chart below).\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/EURUSD-MONTHLY-08032015.png\"><img class=\"aligncenter size-large wp-image-5437\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/EURUSD-MONTHLY-08032015-1024x517.png\" alt=\"EURUSD MONTHLY 08032015\" width=\"1024\" height=\"517\" /></a>\r\n\r\n&nbsp;\r\n\r\nIn last week’s blog I also posted a suggestion of pairs to trade simply based upon Central Bank divergences. Had you blindly just taken these trades at the open on last Sunday through to last week’s close on Friday night the trading result is below: -\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/CENTRAL-BANK-DIVERGENCES-08032015.png\"><img class=\"aligncenter size-full wp-image-5428\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/CENTRAL-BANK-DIVERGENCES-08032015.png\" alt=\"CENTRAL BANK DIVERGENCES 08032015\" width=\"415\" height=\"323\" /></a>\r\n\r\n&nbsp;\r\n\r\nThe chart above is what makes Forex trading so rewarding / frustrating / annoying / satisfying etc… see below.\r\n\r\nFUNDAMENTALLY, following recent Central Bank policy confirmation or changes in monetary policy these trades should have all worked. One can argue placing a commodity cross-rate pair in the original list was a little contentious, but it still should have worked given the differences in Central Bank policies between the BOE and RBA.\r\n\r\nHowever, Forex Trading also allows for oddball moments. The Cable (GBP) is also in a period of uncertainty with elections on the horizon and with its proximity to the EUROZONE (its major trading partner), we saw it drop in sympathy when the single currency came under pressure with relentless selling. Plus, we have to consider the EUR/GBP, the “richest” currency pair to trade from a $$$ perspective. The EUR/GBP is like the EUR/JPY both of these pairs are more of a major currency than the USD/CAD or NZD/USD looking from a volume / liquidity perspective. The cross-rate effects of the EUR/GBP would also weigh on the GBP in general. This would override movements in the GBP/AUD and basically due to the fact that it is a lower liquidity pair it just did its own thing. This pair is usually more associated with a “RISK OFF “ and therefore one would have expected a sell-off after NFP, given that the AUD/USD sold off… it didn’t happen. I think it just fell into the general selling of cable across the board.\r\n\r\nWith regards to the table and the “PIP” opportunities: -\r\n\r\nThe PREMIUM SERVICE went to town on the USD/CHF there is a core position still in play with over 220 pips profit available. This is after having taken lots of pips and banking $$$ through multiple trades along the way for basically the last two weeks or so.\r\n\r\nSome $$$ was also taken from the EUR/USD, but I was pre-occupied believing a bounce was soon to happen given the oversold conditions so for the most times I stayed away. The AUD/USD featured only a couple of times over the past week. With reference to the GBP/AUD the PREMIUM SERVICE is still long with a hedged position in place to minimalize RISK.\r\n\r\nMoving on…\r\n\r\nOver the past week we saw the RBA keep interest rates on hold (buggers!), I was looking for them to cut (buggers!).\r\n\r\nThe BOC also kept rates on hold and the CAD strengthened like crazy (buggers!).\r\n\r\nThe ECB press conference saw Mario Draghi announce that from tomorrow March 9<sup>th</sup> 2015, the ECB would start its QE bond-buying program. The comments from Draghi confirmed that it would be an open-ended program if required and that the ECB would purchase negative interest rate bonds as well. These two pieces of news sent the EUR/USD below 1.1000.\r\n\r\nOn Friday, we had Non Farm Payrolls from the U.S. – yet another batch of great numbers. The equity markets sold off on the release as the noises to raise interest rates in the U.S. before the summer this year increased in volume.\r\n\r\nIn my opinion, the Central Bank divergence trade (talked about above) is even more obvious to me. If you are not yet long the USD, it is best to wait a while for a pullback in the DXY. Let it consolidate first to allow you to buy at better prices. Patience is what is required and I think that we need to test recent breakout levels in the DXY to get great entry trades to go long the USD.\r\n\r\nI haven’t mentioned GREECE yet. I think that the four-month loan extension took GREECE off the front page for a few days, however…. There is a EUROGROUP meeting with GREEK officials tomorrow (Monday 9<sup>th</sup> March), and, apparently, Tsipras asked to meet Junker privately ahead of the meeting. Junker allegedly refused the meeting. Therefore, be ready for quotes and sound-bytes from tomorrow onwards.\r\n\r\nAs I have written for the past two weeks the EUROGROUP v GREECE … IT’S NOT OVER YET. There will be more and more talk in line with the mandate that the Greek government was elected on. The average citizen of Greece couldn’t give a crap about what Schaeuble or Merkel says … they are Germans. The GREEK government was elected on a mandate of a better deal with Brussels / Berlin / Frankfurt. If they do not fulfill this mandate, they are out. They are politicians for God’s sake.\r\n\r\nIn my opinion this has NOT EVEN STARTED!!\r\n\r\n&nbsp;\r\n<ol start=\"2\">\r\n	<li><strong><span style=\"text-decoration: underline;\"> WHAT’S ON MY MIND: -\r\nTHE FUNDAMENTAL TRADERS OVERVIEW:</span></strong></li>\r\n</ol>\r\n<em>PLEASE NOTE:</em>\r\n\r\n<em>(I am NOT going to fill this section of the blog with charts; there are for PREMIUM SERVICE subscribers a further 8 charts of trade opportunities in their extended version of the blog which if you were to print a hard copy would generate over 35 pages when you include all the other exclusive content).</em>\r\n\r\n<strong> </strong>\r\n<h3 style=\"text-align: center;\"><strong>DON’T GET SUCKERED INTO USD LONG TRADES NOW</strong></h3>\r\nThe title of this week’s main article may confuse a few readers, maybe a lot, I don’t know, given that for the past who knows how long I have been banging on about the strength of the USD.\r\n\r\nTake it from me I have given enough easy money to brokers over the past seven / eight years and now is not the time to jump in blindly or with your eyes open.\r\n\r\nWhy would I say this?\r\n\r\nWe have just completed a week were the DXY has exploded higher basically on the back of the reality of the ECB quantitative easing (QE) starting from tomorrow.\r\n\r\nWe received the detail from Draghi on several issues that the markets wanted; commencement date, buying bonds with negative yield, no firm deadline of program, and delay on GREECE being part of the program plus the “Walt Disney” moment of the Mickey Mouse economic forecasts that the ECB loves to provide and then revise the knickers off them as we move forward. (It reminds me of the Mervyn King ex. BOE governor whose inflation forecasts were never achieved and he kept making excuses for this for his entire tenure at the BOE. The process is still alive and carries on with Draghi…. !)\r\n\r\nIn addition, the explosive move higher was in no small part due to the USD NFP Jobs data, absolutely incredible numbers…. (If only, Frank Underwood could achieve this with his “America Works” initiative).\r\n\r\nWe have moved to be within touching distance of the triple digit 100.00 level. As mentioned previously, “the algo” traders and systems will not require Viagra this weekend as they assess the potential opportunities that lay ahead.\r\n\r\nIt all sounds nicely bullish doesn’t it… it is nicely bullish. But this does not mean that as traders we have a Stevie Wonder moment.\r\n\r\nThink….\r\n\r\nMassive moves in all the USD majors… previous ranges blown apart…. Equities coming off tops as the realization has finally sunk in with equity traders that interest rates in the U.S. will be going up and personally, I would not rule out one 0.25% increase in June prior to the summer break.\r\n\r\nCommodity prices are dumping GOLD, OIL, COPPER, and IRON ORE.\r\n\r\nChina is consistently buying fewer commodities and lowering growth projections because they are manufacturing less; it is a fecking slowdown.\r\n\r\nThe BOJ is heavily rumoured to be stopping its QE program.\r\n\r\nCentral Bank divergences – it is a race to the bottom.\r\n\r\nDEFLATION is an issue it’s not just in the EUROZONE where 17 out of the 19 single currency users have DEFLATION. It’s widespread throughout the world, and our “ROCK GOD’S” aka Central Bank Presidents or Governors do NOT know how to fight it.\r\n\r\nIt is all USD positive…\r\n\r\nYou need pullbacks to enter and they could be up to 200 pips away from current prices depending on what currency pair you are looking at.\r\n\r\nLets look at the closes this week compared to last week: -\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/USD-MAJOR-CLOSING-PRICE-COMPARED-08032015.png\"><img class=\"aligncenter size-full wp-image-5449\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/USD-MAJOR-CLOSING-PRICE-COMPARED-08032015.png\" alt=\"USD MAJOR CLOSING PRICE COMPARED 08032015\" width=\"388\" height=\"430\" /></a>\r\n\r\n&nbsp;\r\n\r\nAs you can see from the chart above a simple USD long of a single lot trade across all the USD majors would have generated 1,606 pips. Even with a lot of Central Bank speak sometimes against the FED, the USD won through.\r\n\r\nThese moves show who is King… if you take nothing else away from this blog take that alone.\r\n\r\nThese moves will continue. But they cannot, or, rather should not be just a relentless one-way move. There are always external factors away from the USD to consider.\r\n\r\nJust ignore targets in the EUR/USD, GBP/USD and the other pairs and focus on the DXY 100.00 level. You can virtually take it as read that the key levels / targets will co-ordinate as they approach.\r\n\r\nVolatility will be high as we approach key levels. Index and currency traders will know the levels that they have targeted but the bug banks will have huge barriers in place to try and move the markets the way they want it. As retail traders our jobs are to come in on the coat tails of these moves and look at the probabilities of the potential moves ahead.\r\n\r\nI am a USD bull and have been for many, many months (check the previous posts).\r\n\r\nTo be long the USD is in my opinion the only Forex trade right now that makes clear sense, and you could jump on board now but you may require deep pockets to hold onto loss making trades through what should be an inevitable consolidation period with potential for some deep pullbacks, as I said before the USD is overbought.\r\n\r\nMy job now for my subscribers is to suggest pullback entry levels to get long the USD with entry-level trades to enter the major pairs. This process will be outlined later in this blog.\r\n\r\nFor non-subscribers, be patient and do not go all in on the back of the media coverage of the strong USD, which will be hitting CNBC and BLOOMBERG with an even greater intensity next week.\r\n\r\nFridays NFP was a blow to equity market traders, who are having their period of easy money making being pulled from under them.\r\n\r\nThe USD has been a sleeper for 30+ years, more than a generation… No-one trading on Wall Street has seen anything like this before. Every DOW and nearly all the S&amp;P companies keep talking about currency headwinds being an issue. When they were being spoon-fed it was never a tailwind supporting them. This is no surprise, it has been coming for months, it just shows how poor a stock of CEO’s, and CFO’s are running businesses that they do not have the ability to forward plan. All I hear are excuses not solutions.\r\n\r\nWe are entering unchartered territory; we need to buy at the best prices we can to maximize the most of the potential moves ahead.\r\n\r\nPersonally, I will trade from a core position and add subsequent positions to take on-going day trade $$$ profits from. This is a motivational way to trade as your broker account gets $$$ and at the same time the core trade stops are being revised to protect $$$.\r\n\r\nThe last time that I was able to trade like this was believe it or not during parts of the financial crash all those years ago…fádo, fádo, (long long ago).\r\n\r\nAs always do not have “A rush of blood to the head” as Chris Martin would sing, set your entries MAKE A PLAN and TRADE YOUR PLAN.\r\n\r\n&nbsp;\r\n<ol start=\"3\">\r\n	<li><strong><span style=\"text-decoration: underline;\"> THE PREMIUM SERVICE:\r\n\r\n</span></strong></li>\r\n</ol>\r\n<strong><span style=\"text-decoration: underline;\">SUMMARY OF PERFORMANCE:</span></strong>\r\n\r\n<span style=\"text-decoration: underline;\">3.1 OVERVIEW:</span>\r\n\r\nFor new readers who may not be aware, I refer to the PREMIUM SERVICE quite a lot in this blog and for more details about what it is, and, how much it costs, you will need to go the welcome page of <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a> At the top of the page there are three drop down menus: PREMIUM SERVICE, PROMOTIONS (if available), SIGN-UP and DISCLAIMER. Further details and how to join are all contained there. You will need at PayPal account to subscribe.\r\n\r\n<span style=\"text-decoration: underline;\">3.2.1 PREMIUM SERVICE – SUBSCRIPTION COSTS:</span>\r\n\r\nFull details regarding the PREMIUM SERVICE can be found on my website <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a>\r\n\r\nOn the welcome page there are a series of TABS at the top of the page that provide a summary of what the PREMIUM SERVICE is about and what you receive for your subscription.\r\n\r\nTHE 2015 SUBSCRIPTION BREAKDOWN IS AS FOLLOWS: -\r\n\r\n10 weeks - $200.00\r\n20 weeks - $350.00\r\n40 weeks - $500.00\r\n\r\n<span style=\"text-decoration: underline;\">3.2.2. PREMIUM SERVICE – CHANGES IN SUBSCRIPTION VARIABLES (INCLUDING COMMUNICATION OPTIONS AND PRICING / COSTS):</span>\r\n\r\nIf you recall, towards the end of 2014, I blogged about possible, potential changes for the PREMIUM SERVICE in 2015. I had several website options, in particular, that I did not complete. The main reason that I have held off is related to deciding upon what to do regarding space issues.\r\n\r\nLooking into possible changes / improvements, believe it or not sparked the wider ranging review to explore the possible paths forward looking ahead 2/3 years.\r\n\r\nOne of the things I decided to do to help me in my decision process about how things should look moving forward was to look at competitors.\r\n\r\nSo over the past two / three weeks, I have had research carried out on lead based Forex service providers. This turned out to be just a starting point. The research became much wider embracing many aspects of what I currently do, what I had hoped to do in future and much, much more.\r\n\r\nMy GOD….\r\n\r\nThe volumes of information, the number of companies / individuals involved… the pricing… what you receive for your subscription etc. is so varied, so complex to categorize at times that it is proving to be an enormous exercise.\r\n\r\nReviewing my options about how I move forward is not just about cost. This is also about my own personal work / life balance. I am presently living in Canada and living / trading European and North American sessions and being around for early Asian sessions as well…. that\'s about 18 hours a day!! I love it, I really love trading Forex and being close to my screens when news breaks or currency pairs move wildly but it’s plain crazy, and, with technology and other alternatives I want to streamline several “Front of the house and backroom” functions.\r\n\r\nThe process moving forward involves: -\r\n<ul>\r\n	<li>COMMUNICATION and REPORTING OPTIONS</li>\r\n	<li>WEBSITE OPTIONS and CAPABILITIES</li>\r\n	<li>PRICE and TIERED SUBSCRPITIONS</li>\r\n	<li>TRAINING and MENTORING</li>\r\n	<li>PARTNERSHIP PROGRAMS and INITIATIVES</li>\r\n</ul>\r\nThe list is wider and very interesting, if I was still in the corporate world, but I have been reducing the categories…I am me - NOT Goldman Sachs or Citi.\r\n\r\nPersonally, I do not want to over-complicate “ subscriptions” by having various levels of subscribers. I prefer the “all-in” approach, but changes will be happening across the board. But nothing is off limits.\r\n\r\nFor existing subscribers there will be a questionnaire released as soon as the research is completed to obtain your views.\r\n\r\nFrom a timing perspective, changes should start to appear I think possibly as early as April, after the first quarter has ended. Watch this space for updates.\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">3.3.1. TRADING REVIEW OF ACTIVITY and SUMMARY OF PERFORMANCE:</span>\r\n\r\nLast week I made the decision based upon the lack of inter-market and inter-currency correlations and what I saw as unreal market divergences to close off all bar one of the commodity cross rate pairs. The EUR/AUD, GBP/AUD, EUR/NZD, GBP/NZD and EUR/CAD were all closed. Whilst I had all of these trades hedged I still posted a 720 pips loss for those 5 trades. The GBP/CAD I retained as I felt that this pair offered the best bullish overall pattern.\r\n\r\nThe day after I closed the trades correlations and divergences returned back to almost normal in my opinion and of course the trades started to bottom out. After NFP they had all recovered quite a margin off their lows. Last week’s NFP was probably the easiest one to trade for some time; it really was directional and most of the time relentless.\r\n\r\nDo not panic if you did not fully participate in NFP (I didn’t either), I have a mixed performance on NFP and the Monday / Tuesday after and I have now made it a policy to trade extremely light around these days.\r\n\r\nHowever: -\r\n<ul>\r\n	<li>There will be pullbacks if you missed the big moves.</li>\r\n	<li>This is Forex levels are always tested.</li>\r\n	<li>It’s all about looking at charts trying to figure out what are the key levels.</li>\r\n	<li>There are always ‘High Probability” trades after NFP.</li>\r\n	<li>It’s all about patience. Forex is a long distance marathon not a 100-metre dash.</li>\r\n	<li>Measure your performance by the month, quarters if you take longer-term views.</li>\r\n</ul>\r\nTaking a step back…\r\n\r\nTrading this week was generally good; I re-cooped all of the 720-pip loss referred to above. I have posted 614 pips on closed trades, plus I have a good number of pips in trades that have been carried forward from last week into this week. Barring a crisis at the open later today, all things are positive looking forward into next week.\r\n\r\nMy comments from last week regarding my RADAR TRADE set-ups have not been followed through with yet. Only two RADAR TRADES were completed last week, both profitable. Unfortunately this is not a number from which to draw conclusions from.\r\n\r\nLast week there were 6 new trades that closed and all were profitable. Happy Days. However, when you add the 5 x FUNDAMENTAL commodity cross-rate trades, these were the only losing trades to close during last week the $$$$ return from the PREMIUM SERVICE trades year to date reduced by $1,060.00. I am delighted though, to have generated over 600 closed pips in the week to offset the 720 that were lost on the commodity cross rate trades.\r\n\r\nThe usual summary charts detailing the week and year to date performances, are below: -\r\n\r\n<span style=\"text-decoration: underline;\">3.3.2. – PREMIUM SERVICE PROFIT/LOSS RATIOS:\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/PROFIT-LOSS-RATIO-08032015.png\"><img class=\"aligncenter size-full wp-image-5418\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/PROFIT-LOSS-RATIO-08032015.png\" alt=\"PROFIT-LOSS RATIO 08032015\" width=\"403\" height=\"583\" /></a>\r\n</span>\r\n\r\n<span style=\"text-decoration: underline;\">3.3.3. – PREMIUM SERVICE RISK/REWARD ANALYSIS:</span>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/RISK-REWARD-08032015.png\"><img class=\"aligncenter size-full wp-image-5419\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/RISK-REWARD-08032015.png\" alt=\"RISK-REWARD 08032015\" width=\"440\" height=\"549\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">3.3.4. – PREMIUM SERVICE OVERALL TRADE SUMMARY MONTH &amp; YTD:</span>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/PREM-SERV-PROFITS1-08032015.png\"><img class=\"aligncenter size-full wp-image-5420\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/PREM-SERV-PROFITS1-08032015.png\" alt=\"PREM SERV PROFITS1 08032015\" width=\"462\" height=\"430\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/PREM-SERV-PROFITS2-08032015.png\"><img class=\"aligncenter size-full wp-image-5421\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/PREM-SERV-PROFITS2-08032015.png\" alt=\"PREM SERV PROFITS2 08032015\" width=\"467\" height=\"421\" /></a>\r\n\r\n&nbsp;\r\n<ol start=\"4\">\r\n	<li><strong><span style=\"text-decoration: underline;\"> PREMIUM SERVICE SUBSCRIBER EXCLUSIVE CONTENT:</span></strong></li>\r\n</ol>\r\n(Section 4 is exclusive PREMIUM SERVICE content only available to PREMIUM SERVICE subscribers)\r\n\r\n<span style=\"text-decoration: underline;\">4.1 EDUCATION:\r\n</span>(The full list of all items and more from this section can be found in the PREMIUM SERVICE website in the Trade Essential area under the EDUCATION tab.)\r\n<p style=\"text-align: center;\"><strong>THE CRITICAL SUCCESS FACTORS YOU NEED TO BECOME A SUCCESSFUL TRADER.</strong></p>\r\n<strong>STRATEGY</strong>: <strong>- </strong>There are so many different strategies: value, growth, momentum, short selling, etc. Find one that fits your personality and do your best to master it. The fastest way to learn is to study success. In other words, find someone who is successful at the strategy you like, and then mimic them with your own style. Another key is to recognize when the market environment is not conducive to your strategy and make the proper adjustments.\r\n\r\n<strong>CONFIDENCE</strong>: - If you don\'t have confidence, you have very little chance of succeeding. This doesn’t just apply to trading; it applies to EVERYTHING in life (business, athletics, relationships etc.). With regards to trading, you have to believe in what you are doing and not be afraid to make mistakes. The key is to learn from them, make adjustments and constantly reevaluate your progress.\r\n\r\n<strong>PRODUCT FOCUS</strong>: - There are so many different trading vehicles, like most things in life it is better to be the master of one than a jack of all trades across several different trading vehicles. We are FOREX traders.\r\n\r\n<strong>KNOW YOUR TIME FRAME: -</strong> You must find a timeframe that fits your personality. If you are too nervous, maybe short-term trading isn’t for you. Everyone wants to make tons of money in the market really fast, but keep in mind that is not a healthy approach. Most people with this mindset tend to be “boom and bust” traders. They make a bunch of money and eventually blow up. If you are truly passionate about trading and hope to be in the game for a long time I recommend focusing on a slow and steady approach.\r\n\r\n<strong>ABILITY TO MAKE DECISIONS: -</strong> If you go to McDonalds, stare at the menu for 10 minutes and still can’t decide what to order … then you have NO shot as a trader. You HAVE to be able to make decisions. You can’t hesitate all the time and trade with fear. Who cares if you make a bad decision, just MAKE ONE!!! If you are wrong, you will learn from it and make a better decision next time. As a motivational speaker would say “Good decisions come from experience, and experience comes from bad decisions.” The key is to stop trading with so many fears and MAKE a decision. Who knows? You might end up making the right choice, which will increase your confidence and enhance your ability to make sound decisions in the future.\r\n\r\n<strong>CONVICTION: -</strong> This is very similar to confidence, but what I am referring to specifically is to have conviction in your ideas. It amazes me how many people will buy a stock just because someone on TV or Twitter mentions it. Don’t get me wrong I love to listen to ideas, but it has to fit my strategy in order for me to buy it. Same thing applies when someone says something negative about a trade you are in. Don’t be so easily swayed or talked out of your positions. Have conviction and let the MARKET prove you right or wrong! If you did your research to enter the trade and if nothing has fundamentally changed – stick with it.\r\n\r\n<strong>ABILITY TO CUT LOSSES: -</strong> I’ve studied the best traders in history and they all have the same number one rule: CUT YOUR LOSSES! As a Trader, think of your cash as your inventory. If you can’t cut losses quickly, eventually they get bigger and bigger, and you will have no inventory left to work with. I have a strong conviction in my ideas but when the MARKET proves me wrong, I let go of my ego, cut my losses and move on.\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">4.2 THE PREMIUM SERVICE - EXISTING LIVE TRADES:</span>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/PS-LIVE-TRADES-08032015.png\"><img class=\"aligncenter size-full wp-image-5429\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/PS-LIVE-TRADES-08032015.png\" alt=\"PS LIVE TRADES 08032015\" width=\"717\" height=\"477\" /></a>\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">4.3 THE PREMIUM SERVICE – EXISTING LIMIT ORDERS:</span>\r\n\r\nNone. No spread sheet this week.\r\n\r\n<span style=\"text-decoration: underline;\">PLEASE NOTE:</span>\r\n\r\nRemember position sizes for suggested FUNDAMENTAL TRADES should be much smaller than usual, maybe only 10%-15% of your normal trading position size. It is only when we add to our positions that the fun begins. All FUNDAMENTAL trades posted via email contain a second page with details of where I will add trades and when and where stops are moved, the Stair Stepping Stop Protection (SSSP) is self-explanatory and I hope useful. Using this grows your trading position and helps protect the profits made, should the trade gain traction. In addition, I have added some detail on my HEDGING approach as well to the second FUINDAMENTAL TRADE alert page. More detailed information on HEDGING can be found inside the PREMIUM SERVICE website under the EDUCATION tab – Trading Essentials.\r\n\r\nI view the commodity cross-rate pairs as bonus trades away from the USD majors and over the year they can be very profitable. This is why I have a separate broker for commodity cross-RATE PAIR trades. It gives me an immediate measurement of performance without the need to extrapolate data.\r\n\r\n<span style=\"text-decoration: underline;\">4.4 POTENTIAL TRADES - WHAT CHARTS AM I LOOKING AT?</span>\r\n\r\nI have been asked to have more charts in the blog. In particular the ones that I am working on and looking at because they catch my eye that may become potential trades in the trading sessions ahead. All the charts contain my thoughts. I will tweet and email as soon as these possible trades become LIMIT ORDERS.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/EURUSD-MONTHLY-PREMIUM-SERVICE-08032015.png\"><img class=\"aligncenter size-large wp-image-5436\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/EURUSD-MONTHLY-PREMIUM-SERVICE-08032015-1024x517.png\" alt=\"EURUSD MONTHLY PREMIUM SERVICE 08032015\" width=\"1024\" height=\"517\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/GBPUSD-DAILY-08032015.png\"><img class=\"aligncenter size-large wp-image-5434\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/GBPUSD-DAILY-08032015-1024x517.png\" alt=\"GBPUSD DAILY 08032015\" width=\"1024\" height=\"517\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/NZDUSD-DAILY-08032015.png\"><img class=\"aligncenter size-large wp-image-5433\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/NZDUSD-DAILY-08032015-1024x517.png\" alt=\"NZDUSD DAILY 08032015\" width=\"1024\" height=\"517\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/USDCAD-240M-08032015.png\"><img class=\"aligncenter size-large wp-image-5432\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/USDCAD-240M-08032015-1024x517.png\" alt=\"USDCAD 240M 08032015\" width=\"1024\" height=\"517\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/GBPCHF-240M-08032015.png\"><img class=\"aligncenter size-large wp-image-5435\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/GBPCHF-240M-08032015-1024x517.png\" alt=\"GBPCHF 240M 08032015\" width=\"1024\" height=\"517\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/EURJPY-DAILY-08032015.png\"><img class=\"aligncenter size-large wp-image-5438\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/EURJPY-DAILY-08032015-1024x517.png\" alt=\"EURJPY DAILY 08032015\" width=\"1024\" height=\"517\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/EURGBP-MONTHLY-08032015.png\"><img class=\"aligncenter size-large wp-image-5439\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/EURGBP-MONTHLY-08032015-1024x517.png\" alt=\"EURGBP MONTHLY 08032015\" width=\"1024\" height=\"517\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/AUDUSD-DAILY-08032015.png\"><img class=\"aligncenter size-large wp-image-5440\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/AUDUSD-DAILY-08032015-1024x517.png\" alt=\"AUDUSD DAILY 08032015\" width=\"1024\" height=\"517\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">4.5 MAJOR TRADING PAIRS WITH LONGER-TERM TRENDS MATCHING:</span>\r\n\r\nThe following currency pairs have Short Term (DAILY), Medium Term (WEEKLY) and Long Term (MONTHLY) charts all trending in the same direction.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/TRENDING-PAIRS-08032015.png\"><img class=\"aligncenter size-full wp-image-5430\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/TRENDING-PAIRS-08032015.png\" alt=\"TRENDING PAIRS 08032015\" width=\"405\" height=\"511\" /></a>\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">4.6 THE KEY SUPPORT &amp; RESISTANCE LEVELS WITH THE USD MAJORS</span><strong><span style=\"text-decoration: underline;\">:\r\n</span></strong>(This content is now for PREMIUM SERVICE subscribers only, it allows me to refer to existing and future set-ups that form part of the PREMIUM SERVICE subscription)<strong> </strong>\r\n\r\n<strong>EUR/USD: Closing Price 1.0843.</strong> In the past seven days we finally saw the EUR/USD break lower to the tune of almost 350 pips. It can now be fair to say that the easy money has been made. The pair is soooooo oversold its crazy. I am in the camp of that there has to be a bounce, relentless selling cannot continue. Looking around at Fibonacci extensions 1.0750 would appear to be the next support level. Looking farther afield we are really working in round numbers. But I will say this, if we break below 1.0500 this year…the run to parity will be RELENTLESS and oversold conditions will require a new definition. However, for this week; support is at 1.0750 and I am a seller back at 1.1030, but resistance I suppose has to be noted however minimal at 1.0900. Bear in mind GREECE…it’s like playing the joker.\r\n\r\n<strong>GBP/USD: Closing Price 1.5039</strong>. I will be over this pair like a rash from the European open tomorrow, maybe earlier. 1.5000 is really do or die. There is a growing uncertainty in the UK with general elections due. UKIP has the Tories on the back foot and Cameron is ducking out of TV electoral debates. Cable is suffering from this and the EUROZONE story; the EUR/GBP is another pair I want to revisit again this week. Cable strongly rejected a trend line break last week over 1.5480; it took longs to the woodshed. If 1.5000 gives way we are looking back at mid 1.40’s. For this week support is 1.5000 then 1.4870. Resistance is at 1.5080.\r\n\r\n<strong>AUD/USD: Closing Price 0.7715</strong>. I was spooked on this pair last week. I kept reading about trend line breaks higher and people getting long. Basic Forex mistake… TRADE YOUR FECKING PLAN…and ignore the rest of the world. This pair however, in my defence, was kept elevated last week by good Australian data. We have the AUD jobs report this week. Longer–term I see this pair at 0.7000. I just think we have a left and right hand at play…and neither appears coordinated to me. 0.7620 previous support must now be used in my opinion and resistance is good at 0.7740 then 0.7860, which if given another chance is my preferred area to short from.\r\n\r\n<strong>NZD/USD: Closing Price 0.7360</strong>. We have finally broken lower out of the range (a 200-pip move lower in the week), which has kept this pair contained for weeks. On the horizon we have “Wheeler the bloody dealer”, talks one argument and his actions do the opposite. I am going to try and stay away from this pair until after the RBNZ on Wednesday. I do find this pair of late very, VERY annoying.\r\n\r\n<strong>USD/CAD: Closing Price 1.2620.</strong> I finally made some pips and great $$$ from this pair last week. The oil proxy rampage continues and therefore the support and resistance levels are still wide at 1.2350/1.2400 to 1.2720/1/2800.\r\n\r\n<strong>USD/CHF: Closing Price 0.9855</strong>. The stealth trade continues…. From all my accounts mucho $$$ and pips on this pair. I noticed last week at one time I had 14 long trades in play across my accounts. Last week I closed and re-established a core position. After parity… who knows, but let’s deal with 0.9700 to 1.000 as the levels for now.\r\n\r\n<strong>USD/JPY: Closing Price 120.79. </strong> There were a lot of commentaries last week about shorting at 120.40 back towards 118.40. NFP tore that trade apart. I still believe that equities are toppy and the JPY divergences with equities and the Nikkei will have an effect soon. I want to short this pair, I think!! For now support is at 119.50 and resistance at 121.40.\r\n\r\n&nbsp;\r\n<ol start=\"5\">\r\n	<li><strong><span style=\"text-decoration: underline;\"> THE WEEK AHEAD: -\r\nWHAT AM I THINKING &amp; WHAT AM I LOOKING AT?</span></strong></li>\r\n</ol>\r\n<span style=\"text-decoration: underline;\">5.1 MAJOR FOREX NEWS THIS WEEK THAT INTERESTS ME:</span>\r\nSUNDAY: N/A.\r\n\r\nMONDAY: AUD – NAB Business Confidence.\r\nMONDAY: CNY – CPi and Trade Balance.\r\n\r\nTUESDAY: N/A.\r\n\r\nWEDNESDAY: NZD – RBNZ Cash Rate, Policy Statement &amp; Press Conference.\r\nWEDNESDAY: AUD – Employment Data.\r\n\r\nTHURSDAY: USD – Core Retail Sales.\r\n\r\nFRIDAY: CAD – Employment Data.\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">5.2 FINAL THOUGHTS / CLOSING COMMENTS:</span>\r\n\r\nChinese CPI and Trade Balance, CAD and AUD Employment Data plus U.S. Core Retail sales are on the agenda for news items this week, but the pick of the events has to be the RBNZ interest rate announcement, statement and press conference.\r\n\r\nI recall writing a few weeks ago that I believed that a trending market would return soon. I still believe that it will but I really hope that we do not have to wait until the Fed raises interest rates before we see it. The USD strength story will no doubt dominate the likes of CNBC and Bloomberg TV and the fact that a big 100.00 number looms you can imagine that they will soon start to talk about it more.\r\n\r\nAs we edge closer to 100.00 on the DXY, I fear that we will reach yet another period of chop, chop, chop in the market as buyers and sellers battle it out for supremacy. This period of consolidation may be painful to trade and may last for a week or so looking back at previous sideways moves in the DXY.\r\n\r\nWe will have opportunities to make $$$, we just have to be alert and careful.\r\n\r\nAs always, there will be trades to trade and there will be some great opportunities, please trade in line with your RISK MANAGEMENT parameters from your TRADING PLAN. If you do not have a TRADE PLAN, in my opinion, you should, as this will help you with consistency.\r\n<p style=\"text-align: center;\"><strong>Consistency = longevity in trading and that is a critical goal.\r\nIT IS THE KEY MEASUREMENT</strong></p>\r\nBefore you enter a trade work out the risk, price it in $$$. Place your stop accordingly. PREMIUM SERVICE subscribers have a full library of information on RISK MANAGEMENT, RISK TOLERANCES and POSITION SIZING etc. available for reference 24x7.\r\n\r\nTake care.\r\n\r\nScott Pickering\r\nThe Pip Accumulator\r\nSunday March 8th 2015\r\n\r\nEMAIL / FOLLOW ME AT:\r\npremiumservice@weeklyfxdrivethru.com\r\nTwitter: @pipaccumulator\r\nTwitter: @ThePremService\r\n<span style=\"line-height: 1.5;\">Google+/scottpickering\r\ngoogle.com/+ScottPickering\r\n</span>Tumblr: thepipaccumulator\r\n\r\n&nbsp;\r\n\r\n<strong><span style=\"text-decoration: underline;\">DISCLAIMER &amp; OTHER DATA:</span></strong>\r\n\r\n<span style=\"text-decoration: underline;\">SUBSCRIBING TO THE “FREE VERSION” OF THE WEEKLY FX DRIVE THRU:</span>\r\n\r\nIf you like what you have almost completed reading and want to have THE WEEKLY FX DRIVE THRU delivered direct to your email inbox next week, here is what you do: -\r\n\r\nGo to my website: - www.weeklyfxdrivethru.com\r\n\r\nOn the right hand side of the welcome page under my bio “about me” there is a blue box titled SUBSCRIBE TO FREE NEWSLETTER, click on profile and add your email address. It is as simple and straightforward as that.\r\n\r\nI do NOT sell your email data to anyone…do not worry...one less thing to worry about!\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">THIRD PARTY COMPANIES WITH BANNERS ON MY WEBSITE:</span>\r\n\r\nThere are a small number of companies with banners on my website. In the interests of full disclosure I have a reciprocal business arrangement with these companies to promote their products.\r\n\r\nUnlike many of my competitors, I use the products and services provided by these companies. I will NOT allow any third party on my website unless I am 100% happy that they can back up their promise.\r\n\r\nBy virtue of the fact, I work with these companies almost daily. I am more than confident to have them advertise on my website.\r\n\r\nAny reader who buys products or services from any advertiser via a banner on my website, <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a> will automatically have my help and assistance with any issues that they may have with my partnered advertisers.\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">TRADING &amp; PERFORMANCES DISCLAIMER:</span>\r\n\r\nFLASH, RADAR and FUNDAMENTAL trade set-ups, “Tweets” and “Trade ideas” that are posted in my blogs or on Twitter are trades and set-ups that interest me. They are provided for training and informational purposes only and should not be interpreted as an offer, solicitation or recommendation of any specific security or investment strategy. Past performance is not indicative of future results. Trading Forex carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to trade any such leveraged products you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with trading on margin, and seek advice from an independent financial adviser if you have any doubts.','DON\'T GET SUCKERED INTO USD LONG TRADES NOW','','inherit','open','closed','','5452-revision-v1','','','2015-03-07 17:18:12','2015-03-07 22:18:12','',5452,'https://weeklyfxdrivethru.com/5452-revision-v1/',0,'revision','',0),(5454,1,'2015-03-07 17:20:24','2015-03-07 22:20:24','<h3 style=\"text-align: center;\"><strong>THE PREMIUM SERVICE\r\n</strong><strong>(The Home of Single-Lot $$$$ Trading)</strong></h3>\r\n<strong>DATE: 08.03.2015\r\nREFERENCE: #50\r\n</strong><strong>BLOG: THE PREMIUM SERVICE</strong>\r\n\r\n&nbsp;\r\n<ol>\r\n	<li><strong><span style=\"text-decoration: underline;\"> INTRODUCTION / LOOKING BACK OVER THE PAST WEEK:</span></strong></li>\r\n</ol>\r\nThe title of my main article for the blog last week was:\r\n\r\n<strong>DON’T BE CRAZY AND IGNORE USD STRENGTH…\r\n</strong><strong>THE USD RALLY GOES ON</strong>\r\n\r\nWell, quite a good title... as the DXY roadshow rolled onwards and upwards once again.\r\n\r\nAfter NFP we hit just below 98.00. The big 100.00 is next. As with all things that relate to the markets the big round numbers may beckon and it may appear from longer-term charts that there is a Star Trek “tractor beam” sucking the currency pair or whatever towards the objective, but as soon as you go into smaller minute charts you can see the conflict between buyers and sellers as the big number and stop loss runs approach. Will the DXY 100.00 be the same? I have no reason to doubt that it will not. If you look at the chart below, you can see that the move higher, has been swift followed by consolidation, then a swift move again, followed by another period of consolidation.\r\n\r\nIn my opinion, I think we will get close, then consolidate, and then, make one or two runs before passing by 100.00. Lets face facts the USD is well overbought and we need to see maybe a small pullback / consolidation before moving higher.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/DXY-08032015.png\"><img class=\"aligncenter size-large wp-image-5427\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/DXY-08032015-1024x445.png\" alt=\"DXY 08032015\" width=\"1024\" height=\"445\" /></a>\r\n\r\n&nbsp;\r\n\r\n100.00 on the DXY, in my eyes, places the EUR/USD below 1.0750, possibly closer to 1.0650. It is only horizontal support, but it was a level previously (see the chart below).\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/EURUSD-MONTHLY-08032015.png\"><img class=\"aligncenter size-large wp-image-5437\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/EURUSD-MONTHLY-08032015-1024x517.png\" alt=\"EURUSD MONTHLY 08032015\" width=\"1024\" height=\"517\" /></a>\r\n\r\n&nbsp;\r\n\r\nIn last week’s blog I also posted a suggestion of pairs to trade simply based upon Central Bank divergences. Had you blindly just taken these trades at the open on last Sunday through to last week’s close on Friday night the trading result is below: -\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/CENTRAL-BANK-DIVERGENCES-08032015.png\"><img class=\"aligncenter size-full wp-image-5428\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/CENTRAL-BANK-DIVERGENCES-08032015.png\" alt=\"CENTRAL BANK DIVERGENCES 08032015\" width=\"415\" height=\"323\" /></a>\r\n\r\n&nbsp;\r\n\r\nThe chart above is what makes Forex trading so rewarding / frustrating / annoying / satisfying etc… see below.\r\n\r\nFUNDAMENTALLY, following recent Central Bank policy confirmation or changes in monetary policy these trades should have all worked. One can argue placing a commodity cross-rate pair in the original list was a little contentious, but it still should have worked given the differences in Central Bank policies between the BOE and RBA.\r\n\r\nHowever, Forex Trading also allows for oddball moments. The Cable (GBP) is also in a period of uncertainty with elections on the horizon and with its proximity to the EUROZONE (its major trading partner), we saw it drop in sympathy when the single currency came under pressure with relentless selling. Plus, we have to consider the EUR/GBP, the “richest” currency pair to trade from a $$$ perspective. The EUR/GBP is like the EUR/JPY both of these pairs are more of a major currency than the USD/CAD or NZD/USD looking from a volume / liquidity perspective. The cross-rate effects of the EUR/GBP would also weigh on the GBP in general. This would override movements in the GBP/AUD and basically due to the fact that it is a lower liquidity pair it just did its own thing. This pair is usually more associated with a “RISK OFF “ and therefore one would have expected a sell-off after NFP, given that the AUD/USD sold off… it didn’t happen. I think it just fell into the general selling of cable across the board.\r\n\r\nWith regards to the table and the “PIP” opportunities: -\r\n\r\nThe PREMIUM SERVICE went to town on the USD/CHF there is a core position still in play with over 220 pips profit available. This is after having taken lots of pips and banking $$$ through multiple trades along the way for basically the last two weeks or so.\r\n\r\nSome $$$ was also taken from the EUR/USD, but I was pre-occupied believing a bounce was soon to happen given the oversold conditions so for the most times I stayed away. The AUD/USD featured only a couple of times over the past week. With reference to the GBP/AUD the PREMIUM SERVICE is still long with a hedged position in place to minimize RISK.\r\n\r\nMoving on…\r\n\r\nOver the past week we saw the RBA keep interest rates on hold (buggers!), I was looking for them to cut (buggers!).\r\n\r\nThe BOC also kept rates on hold and the CAD strengthened like crazy (buggers!).\r\n\r\nThe ECB press conference saw Mario Draghi announce that from tomorrow March 9<sup>th</sup> 2015, the ECB would start its QE bond-buying program. The comments from Draghi confirmed that it would be an open-ended program if required and that the ECB would purchase negative interest rate bonds as well. These two pieces of news sent the EUR/USD below 1.1000.\r\n\r\nOn Friday, we had Non Farm Payrolls from the U.S. – yet another batch of great numbers. The equity markets sold off on the release as the noises to raise interest rates in the U.S. before the summer this year increased in volume.\r\n\r\nIn my opinion, the Central Bank divergence trade (talked about above) is even more obvious to me. If you are not yet long the USD, it is best to wait a while for a pullback in the DXY. Let it consolidate first to allow you to buy at better prices. Patience is what is required and I think that we need to test recent breakout levels in the DXY to get great entry trades to go long the USD.\r\n\r\nI haven’t mentioned GREECE yet. I think that the four-month loan extension took GREECE off the front page for a few days, however…. There is a EUROGROUP meeting with GREEK officials tomorrow (Monday 9<sup>th</sup> March), and, apparently, Tsipras asked to meet Junker privately ahead of the meeting. Junker allegedly refused the meeting. Therefore, be ready for quotes and sound-bytes from tomorrow onwards.\r\n\r\nAs I have written for the past two weeks the EUROGROUP v GREECE … IT’S NOT OVER YET. There will be more and more talk in line with the mandate that the Greek government was elected on. The average citizen of Greece couldn’t give a crap about what Schaeuble or Merkel says … they are Germans. The GREEK government was elected on a mandate of a better deal with Brussels / Berlin / Frankfurt. If they do not fulfill this mandate, they are out. They are politicians for God’s sake.\r\n\r\nIn my opinion this has NOT EVEN STARTED!!\r\n\r\n&nbsp;\r\n<ol start=\"2\">\r\n	<li><strong><span style=\"text-decoration: underline;\"> WHAT’S ON MY MIND: -\r\nTHE FUNDAMENTAL TRADERS OVERVIEW:</span></strong></li>\r\n</ol>\r\n<em>PLEASE NOTE:</em>\r\n\r\n<em>(I am NOT going to fill this section of the blog with charts; there are for PREMIUM SERVICE subscribers a further 8 charts of trade opportunities in their extended version of the blog which if you were to print a hard copy would generate over 35 pages when you include all the other exclusive content).</em>\r\n\r\n<strong> </strong>\r\n<h3 style=\"text-align: center;\"><strong>DON’T GET SUCKERED INTO USD LONG TRADES NOW</strong></h3>\r\nThe title of this week’s main article may confuse a few readers, maybe a lot, I don’t know, given that for the past who knows how long I have been banging on about the strength of the USD.\r\n\r\nTake it from me I have given enough easy money to brokers over the past seven / eight years and now is not the time to jump in blindly or with your eyes open.\r\n\r\nWhy would I say this?\r\n\r\nWe have just completed a week were the DXY has exploded higher basically on the back of the reality of the ECB quantitative easing (QE) starting from tomorrow.\r\n\r\nWe received the detail from Draghi on several issues that the markets wanted; commencement date, buying bonds with negative yield, no firm deadline of program, and delay on GREECE being part of the program plus the “Walt Disney” moment of the Mickey Mouse economic forecasts that the ECB loves to provide and then revise the knickers off them as we move forward. (It reminds me of the Mervyn King ex. BOE governor whose inflation forecasts were never achieved and he kept making excuses for this for his entire tenure at the BOE. The process is still alive and carries on with Draghi…. !)\r\n\r\nIn addition, the explosive move higher was in no small part due to the USD NFP Jobs data, absolutely incredible numbers…. (If only, Frank Underwood could achieve this with his “America Works” initiative).\r\n\r\nWe have moved to be within touching distance of the triple digit 100.00 level. As mentioned previously, “the algo” traders and systems will not require Viagra this weekend as they assess the potential opportunities that lay ahead.\r\n\r\nIt all sounds nicely bullish doesn’t it… it is nicely bullish. But this does not mean that as traders we have a Stevie Wonder moment.\r\n\r\nThink….\r\n\r\nMassive moves in all the USD majors… previous ranges blown apart…. Equities coming off tops as the realization has finally sunk in with equity traders that interest rates in the U.S. will be going up and personally, I would not rule out one 0.25% increase in June prior to the summer break.\r\n\r\nCommodity prices are dumping GOLD, OIL, COPPER, and IRON ORE.\r\n\r\nChina is consistently buying fewer commodities and lowering growth projections because they are manufacturing less; it is a fecking slowdown.\r\n\r\nThe BOJ is heavily rumoured to be stopping its QE program.\r\n\r\nCentral Bank divergences – it is a race to the bottom.\r\n\r\nDEFLATION is an issue it’s not just in the EUROZONE where 17 out of the 19 single currency users have DEFLATION. It’s widespread throughout the world, and our “ROCK GOD’S” aka Central Bank Presidents or Governors do NOT know how to fight it.\r\n\r\nIt is all USD positive…\r\n\r\nYou need pullbacks to enter and they could be up to 200 pips away from current prices depending on what currency pair you are looking at.\r\n\r\nLets look at the closes this week compared to last week: -\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/USD-MAJOR-CLOSING-PRICE-COMPARED-08032015.png\"><img class=\"aligncenter size-full wp-image-5449\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/USD-MAJOR-CLOSING-PRICE-COMPARED-08032015.png\" alt=\"USD MAJOR CLOSING PRICE COMPARED 08032015\" width=\"388\" height=\"430\" /></a>\r\n\r\n&nbsp;\r\n\r\nAs you can see from the chart above a simple USD long of a single lot trade across all the USD majors would have generated 1,606 pips. Even with a lot of Central Bank speak sometimes against the FED, the USD won through.\r\n\r\nThese moves show who is King… if you take nothing else away from this blog take that alone.\r\n\r\nThese moves will continue. But they cannot, or, rather should not be just a relentless one-way move. There are always external factors away from the USD to consider.\r\n\r\nJust ignore targets in the EUR/USD, GBP/USD and the other pairs and focus on the DXY 100.00 level. You can virtually take it as read that the key levels / targets will co-ordinate as they approach.\r\n\r\nVolatility will be high as we approach key levels. Index and currency traders will know the levels that they have targeted but the bug banks will have huge barriers in place to try and move the markets the way they want it. As retail traders our jobs are to come in on the coat tails of these moves and look at the probabilities of the potential moves ahead.\r\n\r\nI am a USD bull and have been for many, many months (check the previous posts).\r\n\r\nTo be long the USD is in my opinion the only Forex trade right now that makes clear sense, and you could jump on board now but you may require deep pockets to hold onto loss making trades through what should be an inevitable consolidation period with potential for some deep pullbacks, as I said before the USD is overbought.\r\n\r\nMy job now for my subscribers is to suggest pullback entry levels to get long the USD with entry-level trades to enter the major pairs. This process will be outlined later in this blog.\r\n\r\nFor non-subscribers, be patient and do not go all in on the back of the media coverage of the strong USD, which will be hitting CNBC and BLOOMBERG with an even greater intensity next week.\r\n\r\nFridays NFP was a blow to equity market traders, who are having their period of easy money making being pulled from under them.\r\n\r\nThe USD has been a sleeper for 30+ years, more than a generation… No-one trading on Wall Street has seen anything like this before. Every DOW and nearly all the S&amp;P companies keep talking about currency headwinds being an issue. When they were being spoon-fed it was never a tailwind supporting them. This is no surprise, it has been coming for months, it just shows how poor a stock of CEO’s, and CFO’s are running businesses that they do not have the ability to forward plan. All I hear are excuses not solutions.\r\n\r\nWe are entering unchartered territory; we need to buy at the best prices we can to maximize the most of the potential moves ahead.\r\n\r\nPersonally, I will trade from a core position and add subsequent positions to take on-going day trade $$$ profits from. This is a motivational way to trade as your broker account gets $$$ and at the same time the core trade stops are being revised to protect $$$.\r\n\r\nThe last time that I was able to trade like this was believe it or not during parts of the financial crash all those years ago…fádo, fádo, (long long ago).\r\n\r\nAs always do not have “A rush of blood to the head” as Chris Martin would sing, set your entries MAKE A PLAN and TRADE YOUR PLAN.\r\n\r\n&nbsp;\r\n<ol start=\"3\">\r\n	<li><strong></strong><strong><span style=\"text-decoration: underline;\"> THE PREMIUM SERVICE:</span></strong>&nbsp;</li>\r\n</ol>\r\n<strong><span style=\"text-decoration: underline;\">SUMMARY OF PERFORMANCE:</span></strong>\r\n\r\n<span style=\"text-decoration: underline;\">3.1 OVERVIEW:</span>\r\n\r\nFor new readers who may not be aware, I refer to the PREMIUM SERVICE quite a lot in this blog and for more details about what it is, and, how much it costs, you will need to go the welcome page of <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a> At the top of the page there are three drop down menus: PREMIUM SERVICE, PROMOTIONS (if available), SIGN-UP and DISCLAIMER. Further details and how to join are all contained there. You will need at PayPal account to subscribe.\r\n\r\n<span style=\"text-decoration: underline;\">3.2.1 PREMIUM SERVICE – SUBSCRIPTION COSTS:</span>\r\n\r\nFull details regarding the PREMIUM SERVICE can be found on my website <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a>\r\n\r\nOn the welcome page there are a series of TABS at the top of the page that provide a summary of what the PREMIUM SERVICE is about and what you receive for your subscription.\r\n\r\nTHE 2015 SUBSCRIPTION BREAKDOWN IS AS FOLLOWS: -\r\n\r\n10 weeks - $200.00\r\n20 weeks - $350.00\r\n40 weeks - $500.00\r\n\r\n<span style=\"text-decoration: underline;\">3.2.2. PREMIUM SERVICE – CHANGES IN SUBSCRIPTION VARIABLES (INCLUDING COMMUNICATION OPTIONS AND PRICING / COSTS):</span>\r\n\r\nIf you recall, towards the end of 2014, I blogged about possible, potential changes for the PREMIUM SERVICE in 2015. I had several website options, in particular, that I did not complete. The main reason that I have held off is related to deciding upon what to do regarding space issues.\r\n\r\nLooking into possible changes / improvements, believe it or not sparked the wider ranging review to explore the possible paths forward looking ahead 2/3 years.\r\n\r\nOne of the things I decided to do to help me in my decision process about how things should look moving forward was to look at competitors.\r\n\r\nSo over the past two / three weeks, I have had research carried out on lead based Forex service providers. This turned out to be just a starting point. The research became much wider embracing many aspects of what I currently do, what I had hoped to do in future and much, much more.\r\n\r\nMy GOD….\r\n\r\nThe volumes of information, the number of companies / individuals involved… the pricing… what you receive for your subscription etc. is so varied, so complex to categorize at times that it is proving to be an enormous exercise.\r\n\r\nReviewing my options about how I move forward is not just about cost. This is also about my own personal work / life balance. I am presently living in Canada and living / trading European and North American sessions and being around for early Asian sessions as well…. that\'s about 18 hours a day!! I love it, I really love trading Forex and being close to my screens when news breaks or currency pairs move wildly but it’s plain crazy, and, with technology and other alternatives I want to streamline several “Front of the house and backroom” functions.\r\n\r\nThe process moving forward involves: -\r\n<ul>\r\n	<li>COMMUNICATION and REPORTING OPTIONS</li>\r\n	<li>WEBSITE OPTIONS and CAPABILITIES</li>\r\n	<li>PRICE and TIERED SUBSCRIPTIONS</li>\r\n	<li>TRAINING and MENTORING</li>\r\n	<li>PARTNERSHIP PROGRAMS and INITIATIVES</li>\r\n</ul>\r\nThe list is wider and very interesting, if I was still in the corporate world, but I have been reducing the categories…I am me - NOT Goldman Sachs or Citi.\r\n\r\nPersonally, I do not want to over-complicate “ subscriptions” by having various levels of subscribers. I prefer the “all-in” approach, but changes will be happening across the board. But nothing is off limits.\r\n\r\nFor existing subscribers there will be a questionnaire released as soon as the research is completed to obtain your views.\r\n\r\nFrom a timing perspective, changes should start to appear I think possibly as early as April, after the first quarter has ended. Watch this space for updates.\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">3.3.1. TRADING REVIEW OF ACTIVITY and SUMMARY OF PERFORMANCE:</span>\r\n\r\nLast week I made the decision based upon the lack of inter-market and inter-currency correlations and what I saw as unreal market divergences to close off all bar one of the commodity cross rate pairs. The EUR/AUD, GBP/AUD, EUR/NZD, GBP/NZD and EUR/CAD were all closed. Whilst I had all of these trades hedged I still posted a 720 pips loss for those 5 trades. The GBP/CAD I retained as I felt that this pair offered the best bullish overall pattern.\r\n\r\nThe day after I closed the trades correlations and divergences returned back to almost normal in my opinion and of course the trades started to bottom out. After NFP they had all recovered quite a margin off their lows. Last week’s NFP was probably the easiest one to trade for some time; it really was directional and most of the time relentless.\r\n\r\nDo not panic if you did not fully participate in NFP (I didn’t either), I have a mixed performance on NFP and the Monday / Tuesday after and I have now made it a policy to trade extremely light around these days.\r\n\r\nHowever: -\r\n<ul>\r\n	<li>There will be pullbacks if you missed the big moves.</li>\r\n	<li>This is Forex levels are always tested.</li>\r\n	<li>It’s all about looking at charts trying to figure out what are the key levels.</li>\r\n	<li>There are always ‘High Probability” trades after NFP.</li>\r\n	<li>It’s all about patience. Forex is a long distance marathon not a 100-metre dash.</li>\r\n	<li>Measure your performance by the month, quarters if you take longer-term views.</li>\r\n</ul>\r\nTaking a step back…\r\n\r\nTrading this week was generally good; I re-cooped all of the 720-pip loss referred to above. I have posted 614 pips on closed trades, plus I have a good number of pips in trades that have been carried forward from last week into this week. Barring a crisis at the open later today, all things are positive looking forward into next week.\r\n\r\nMy comments from last week regarding my RADAR TRADE set-ups have not been followed through with yet. Only two RADAR TRADES were completed last week, both profitable. Unfortunately this is not a number from which to draw conclusions from.\r\n\r\nLast week there were 6 new trades that closed and all were profitable. Happy Days. However, when you add the 5 x FUNDAMENTAL commodity cross-rate trades, these were the only losing trades to close during last week the $$$$ return from the PREMIUM SERVICE trades year to date reduced by $1,060.00. I am delighted though, to have generated over 600 closed pips in the week to offset the 720 that were lost on the commodity cross rate trades.\r\n\r\nThe usual summary charts detailing the week and year to date performances, are below: -\r\n\r\n<span style=\"text-decoration: underline;\">3.3.2. – PREMIUM SERVICE PROFIT/LOSS RATIOS:</span>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/PROFIT-LOSS-RATIO-08032015.png\"><img class=\"aligncenter size-full wp-image-5418\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/PROFIT-LOSS-RATIO-08032015.png\" alt=\"PROFIT-LOSS RATIO 08032015\" width=\"403\" height=\"583\" /></a>\r\n\r\n<span style=\"text-decoration: underline;\">3.3.3. – PREMIUM SERVICE RISK/REWARD ANALYSIS:</span>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/RISK-REWARD-08032015.png\"><img class=\"aligncenter size-full wp-image-5419\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/RISK-REWARD-08032015.png\" alt=\"RISK-REWARD 08032015\" width=\"440\" height=\"549\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">3.3.4. – PREMIUM SERVICE OVERALL TRADE SUMMARY MONTH &amp; YTD:</span>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/PREM-SERV-PROFITS1-08032015.png\"><img class=\"aligncenter size-full wp-image-5420\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/PREM-SERV-PROFITS1-08032015.png\" alt=\"PREM SERV PROFITS1 08032015\" width=\"462\" height=\"430\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/PREM-SERV-PROFITS2-08032015.png\"><img class=\"aligncenter size-full wp-image-5421\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/PREM-SERV-PROFITS2-08032015.png\" alt=\"PREM SERV PROFITS2 08032015\" width=\"467\" height=\"421\" /></a>\r\n\r\n&nbsp;\r\n<ol start=\"4\">\r\n	<li><strong><span style=\"text-decoration: underline;\"> PREMIUM SERVICE SUBSCRIBER EXCLUSIVE CONTENT:</span></strong></li>\r\n</ol>\r\n(Section 4 is exclusive PREMIUM SERVICE content only available to PREMIUM SERVICE subscribers)\r\n\r\n<span style=\"text-decoration: underline;\">4.1 EDUCATION:\r\n</span>(The full list of all items and more from this section can be found in the PREMIUM SERVICE website in the Trade Essential area under the EDUCATION tab.)\r\n<p style=\"text-align: center;\"><strong>THE CRITICAL SUCCESS FACTORS YOU NEED TO BECOME A SUCCESSFUL TRADER.</strong></p>\r\n<strong>STRATEGY</strong>: <strong>- </strong>There are so many different strategies: value, growth, momentum, short selling, etc. Find one that fits your personality and do your best to master it. The fastest way to learn is to study success. In other words, find someone who is successful at the strategy you like, and then mimic them with your own style. Another key is to recognize when the market environment is not conducive to your strategy and make the proper adjustments.\r\n\r\n<strong>CONFIDENCE</strong>: - If you don\'t have confidence, you have very little chance of succeeding. This doesn’t just apply to trading; it applies to EVERYTHING in life (business, athletics, relationships etc.). With regards to trading, you have to believe in what you are doing and not be afraid to make mistakes. The key is to learn from them, make adjustments and constantly reevaluate your progress.\r\n\r\n<strong>PRODUCT FOCUS</strong>: - There are so many different trading vehicles, like most things in life it is better to be the master of one than a jack of all trades across several different trading vehicles. We are FOREX traders.\r\n\r\n<strong>KNOW YOUR TIME FRAME: -</strong> You must find a timeframe that fits your personality. If you are too nervous, maybe short-term trading isn’t for you. Everyone wants to make tons of money in the market really fast, but keep in mind that is not a healthy approach. Most people with this mindset tend to be “boom and bust” traders. They make a bunch of money and eventually blow up. If you are truly passionate about trading and hope to be in the game for a long time I recommend focusing on a slow and steady approach.\r\n\r\n<strong>ABILITY TO MAKE DECISIONS: -</strong> If you go to McDonalds, stare at the menu for 10 minutes and still can’t decide what to order … then you have NO shot as a trader. You HAVE to be able to make decisions. You can’t hesitate all the time and trade with fear. Who cares if you make a bad decision, just MAKE ONE!!! If you are wrong, you will learn from it and make a better decision next time. As a motivational speaker would say “Good decisions come from experience, and experience comes from bad decisions.” The key is to stop trading with so many fears and MAKE a decision. Who knows? You might end up making the right choice, which will increase your confidence and enhance your ability to make sound decisions in the future.\r\n\r\n<strong>CONVICTION: -</strong> This is very similar to confidence, but what I am referring to specifically is to have conviction in your ideas. It amazes me how many people will buy a stock just because someone on TV or Twitter mentions it. Don’t get me wrong I love to listen to ideas, but it has to fit my strategy in order for me to buy it. Same thing applies when someone says something negative about a trade you are in. Don’t be so easily swayed or talked out of your positions. Have conviction and let the MARKET prove you right or wrong! If you did your research to enter the trade and if nothing has fundamentally changed – stick with it.\r\n\r\n<strong>ABILITY TO CUT LOSSES: -</strong> I’ve studied the best traders in history and they all have the same number one rule: CUT YOUR LOSSES! As a Trader, think of your cash as your inventory. If you can’t cut losses quickly, eventually they get bigger and bigger, and you will have no inventory left to work with. I have a strong conviction in my ideas but when the MARKET proves me wrong, I let go of my ego, cut my losses and move on.\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">4.2 THE PREMIUM SERVICE - EXISTING LIVE TRADES:</span>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/PS-LIVE-TRADES-08032015.png\"><img class=\"aligncenter size-full wp-image-5429\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/PS-LIVE-TRADES-08032015.png\" alt=\"PS LIVE TRADES 08032015\" width=\"717\" height=\"477\" /></a>\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">4.3 THE PREMIUM SERVICE – EXISTING LIMIT ORDERS:</span>\r\n\r\nNone. No spread sheet this week.\r\n\r\n<span style=\"text-decoration: underline;\">PLEASE NOTE:</span>\r\n\r\nRemember position sizes for suggested FUNDAMENTAL TRADES should be much smaller than usual, maybe only 10%-15% of your normal trading position size. It is only when we add to our positions that the fun begins. All FUNDAMENTAL trades posted via email contain a second page with details of where I will add trades and when and where stops are moved, the Stair Stepping Stop Protection (SSSP) is self-explanatory and I hope useful. Using this grows your trading position and helps protect the profits made, should the trade gain traction. In addition, I have added some detail on my HEDGING approach as well to the second FUNDAMENTAL TRADE alert page. More detailed information on HEDGING can be found inside the PREMIUM SERVICE website under the EDUCATION tab – Trading Essentials.\r\n\r\nI view the commodity cross-rate pairs as bonus trades away from the USD majors and over the year they can be very profitable. This is why I have a separate broker for commodity cross-RATE PAIR trades. It gives me an immediate measurement of performance without the need to extrapolate data.\r\n\r\n<span style=\"text-decoration: underline;\">4.4 POTENTIAL TRADES - WHAT CHARTS AM I LOOKING AT?</span>\r\n\r\nI have been asked to have more charts in the blog. In particular the ones that I am working on and looking at because they catch my eye that may become potential trades in the trading sessions ahead. All the charts contain my thoughts. I will tweet and email as soon as these possible trades become LIMIT ORDERS.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/EURUSD-MONTHLY-PREMIUM-SERVICE-08032015.png\"><img class=\"aligncenter size-large wp-image-5436\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/EURUSD-MONTHLY-PREMIUM-SERVICE-08032015-1024x517.png\" alt=\"EURUSD MONTHLY PREMIUM SERVICE 08032015\" width=\"1024\" height=\"517\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/GBPUSD-DAILY-08032015.png\"><img class=\"aligncenter size-large wp-image-5434\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/GBPUSD-DAILY-08032015-1024x517.png\" alt=\"GBPUSD DAILY 08032015\" width=\"1024\" height=\"517\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/NZDUSD-DAILY-08032015.png\"><img class=\"aligncenter size-large wp-image-5433\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/NZDUSD-DAILY-08032015-1024x517.png\" alt=\"NZDUSD DAILY 08032015\" width=\"1024\" height=\"517\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/USDCAD-240M-08032015.png\"><img class=\"aligncenter size-large wp-image-5432\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/USDCAD-240M-08032015-1024x517.png\" alt=\"USDCAD 240M 08032015\" width=\"1024\" height=\"517\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/GBPCHF-240M-08032015.png\"><img class=\"aligncenter size-large wp-image-5435\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/GBPCHF-240M-08032015-1024x517.png\" alt=\"GBPCHF 240M 08032015\" width=\"1024\" height=\"517\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/EURJPY-DAILY-08032015.png\"><img class=\"aligncenter size-large wp-image-5438\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/EURJPY-DAILY-08032015-1024x517.png\" alt=\"EURJPY DAILY 08032015\" width=\"1024\" height=\"517\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/EURGBP-MONTHLY-08032015.png\"><img class=\"aligncenter size-large wp-image-5439\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/EURGBP-MONTHLY-08032015-1024x517.png\" alt=\"EURGBP MONTHLY 08032015\" width=\"1024\" height=\"517\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/AUDUSD-DAILY-08032015.png\"><img class=\"aligncenter size-large wp-image-5440\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/AUDUSD-DAILY-08032015-1024x517.png\" alt=\"AUDUSD DAILY 08032015\" width=\"1024\" height=\"517\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">4.5 MAJOR TRADING PAIRS WITH LONGER-TERM TRENDS MATCHING:</span>\r\n\r\nThe following currency pairs have Short Term (DAILY), Medium Term (WEEKLY) and Long Term (MONTHLY) charts all trending in the same direction.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/TRENDING-PAIRS-08032015.png\"><img class=\"aligncenter size-full wp-image-5430\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/TRENDING-PAIRS-08032015.png\" alt=\"TRENDING PAIRS 08032015\" width=\"405\" height=\"511\" /></a>\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">4.6 THE KEY SUPPORT &amp; RESISTANCE LEVELS WITH THE USD MAJORS</span><strong><span style=\"text-decoration: underline;\">:\r\n</span></strong>(This content is now for PREMIUM SERVICE subscribers only, it allows me to refer to existing and future set-ups that form part of the PREMIUM SERVICE subscription)<strong> </strong>\r\n\r\n<strong>EUR/USD: Closing Price 1.0843.</strong> In the past seven days we finally saw the EUR/USD break lower to the tune of almost 350 pips. It can now be fair to say that the easy money has been made. The pair is soooooo oversold its crazy. I am in the camp of that there has to be a bounce, relentless selling cannot continue. Looking around at Fibonacci extensions 1.0750 would appear to be the next support level. Looking farther afield we are really working in round numbers. But I will say this, if we break below 1.0500 this year…the run to parity will be RELENTLESS and oversold conditions will require a new definition. However, for this week; support is at 1.0750 and I am a seller back at 1.1030, but resistance I suppose has to be noted however minimal at 1.0900. Bear in mind GREECE…it’s like playing the joker.\r\n\r\n<strong>GBP/USD: Closing Price 1.5039</strong>. I will be over this pair like a rash from the European open tomorrow, maybe earlier. 1.5000 is really do or die. There is a growing uncertainty in the UK with general elections due. UKIP has the Tories on the back foot and Cameron is ducking out of TV electoral debates. Cable is suffering from this and the EUROZONE story; the EUR/GBP is another pair I want to revisit again this week. Cable strongly rejected a trend line break last week over 1.5480; it took longs to the woodshed. If 1.5000 gives way we are looking back at mid 1.40’s. For this week support is 1.5000 then 1.4870. Resistance is at 1.5080.\r\n\r\n<strong>AUD/USD: Closing Price 0.7715</strong>. I was spooked on this pair last week. I kept reading about trend line breaks higher and people getting long. Basic Forex mistake… TRADE YOUR FECKING PLAN…and ignore the rest of the world. This pair however, in my defence, was kept elevated last week by good Australian data. We have the AUD jobs report this week. Longer–term I see this pair at 0.7000. I just think we have a left and right hand at play…and neither appears coordinated to me. 0.7620 previous support must now be used in my opinion and resistance is good at 0.7740 then 0.7860, which if given another chance is my preferred area to short from.\r\n\r\n<strong>NZD/USD: Closing Price 0.7360</strong>. We have finally broken lower out of the range (a 200-pip move lower in the week), which has kept this pair contained for weeks. On the horizon we have “Wheeler the bloody dealer”, talks one argument and his actions do the opposite. I am going to try and stay away from this pair until after the RBNZ on Wednesday. I do find this pair of late very, VERY annoying.\r\n\r\n<strong>USD/CAD: Closing Price 1.2620.</strong> I finally made some pips and great $$$ from this pair last week. The oil proxy rampage continues and therefore the support and resistance levels are still wide at 1.2350/1.2400 to 1.2720/1/2800.\r\n\r\n<strong>USD/CHF: Closing Price 0.9855</strong>. The stealth trade continues…. From all my accounts mucho $$$ and pips on this pair. I noticed last week at one time I had 14 long trades in play across my accounts. Last week I closed and re-established a core position. After parity… who knows, but let’s deal with 0.9700 to 1.000 as the levels for now.\r\n\r\n<strong>USD/JPY: Closing Price 120.79. </strong> There were a lot of commentaries last week about shorting at 120.40 back towards 118.40. NFP tore that trade apart. I still believe that equities are toppy and the JPY divergences with equities and the Nikkei will have an effect soon. I want to short this pair, I think!! For now support is at 119.50 and resistance at 121.40.\r\n\r\n&nbsp;\r\n<ol start=\"5\">\r\n	<li><strong><span style=\"text-decoration: underline;\"> THE WEEK AHEAD: -\r\nWHAT AM I THINKING &amp; WHAT AM I LOOKING AT?</span></strong></li>\r\n</ol>\r\n<span style=\"text-decoration: underline;\">5.1 MAJOR FOREX NEWS THIS WEEK THAT INTERESTS ME:</span>\r\nSUNDAY: N/A.\r\n\r\nMONDAY: AUD – NAB Business Confidence.\r\nMONDAY: CNY – CPi and Trade Balance.\r\n\r\nTUESDAY: N/A.\r\n\r\nWEDNESDAY: NZD – RBNZ Cash Rate, Policy Statement &amp; Press Conference.\r\nWEDNESDAY: AUD – Employment Data.\r\n\r\nTHURSDAY: USD – Core Retail Sales.\r\n\r\nFRIDAY: CAD – Employment Data.\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">5.2 FINAL THOUGHTS / CLOSING COMMENTS:</span>\r\n\r\nChinese CPI and Trade Balance, CAD and AUD Employment Data plus U.S. Core Retail sales are on the agenda for news items this week, but the pick of the events has to be the RBNZ interest rate announcement, statement and press conference.\r\n\r\nI recall writing a few weeks ago that I believed that a trending market would return soon. I still believe that it will but I really hope that we do not have to wait until the Fed raises interest rates before we see it. The USD strength story will no doubt dominate the likes of CNBC and Bloomberg TV and the fact that a big 100.00 number looms you can imagine that they will soon start to talk about it more.\r\n\r\nAs we edge closer to 100.00 on the DXY, I fear that we will reach yet another period of chop, chop, chop in the market as buyers and sellers battle it out for supremacy. This period of consolidation may be painful to trade and may last for a week or so looking back at previous sideways moves in the DXY.\r\n\r\nWe will have opportunities to make $$$, we just have to be alert and careful.\r\n\r\nAs always, there will be trades to trade and there will be some great opportunities, please trade in line with your RISK MANAGEMENT parameters from your TRADING PLAN. If you do not have a TRADE PLAN, in my opinion, you should, as this will help you with consistency.\r\n<p style=\"text-align: center;\"><strong>Consistency = longevity in trading and that is a critical goal.\r\nIT IS THE KEY MEASUREMENT</strong></p>\r\nBefore you enter a trade work out the risk, price it in $$$. Place your stop accordingly. PREMIUM SERVICE subscribers have a full library of information on RISK MANAGEMENT, RISK TOLERANCES and POSITION SIZING etc. available for reference 24x7.\r\n\r\nTake care.\r\n\r\nScott Pickering\r\nThe Pip Accumulator\r\nSunday March 8th 2015\r\n\r\nEMAIL / FOLLOW ME AT:\r\npremiumservice@weeklyfxdrivethru.com\r\nTwitter: @pipaccumulator\r\nTwitter: @ThePremService\r\n<span style=\"line-height: 1.5;\">Google+/scottpickering\r\ngoogle.com/+ScottPickering\r\n</span>Tumblr: thepipaccumulator\r\n\r\n&nbsp;\r\n\r\n<strong><span style=\"text-decoration: underline;\">DISCLAIMER &amp; OTHER DATA:</span></strong>\r\n\r\n<span style=\"text-decoration: underline;\">SUBSCRIBING TO THE “FREE VERSION” OF THE WEEKLY FX DRIVE THRU:</span>\r\n\r\nIf you like what you have almost completed reading and want to have THE WEEKLY FX DRIVE THRU delivered direct to your email inbox next week, here is what you do: -\r\n\r\nGo to my website: - www.weeklyfxdrivethru.com\r\n\r\nOn the right hand side of the welcome page under my bio “about me” there is a blue box titled SUBSCRIBE TO FREE NEWSLETTER, click on profile and add your email address. It is as simple and straightforward as that.\r\n\r\nI do NOT sell your email data to anyone…do not worry...one less thing to worry about!\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">THIRD PARTY COMPANIES WITH BANNERS ON MY WEBSITE:</span>\r\n\r\nThere are a small number of companies with banners on my website. In the interests of full disclosure I have a reciprocal business arrangement with these companies to promote their products.\r\n\r\nUnlike many of my competitors, I use the products and services provided by these companies. I will NOT allow any third party on my website unless I am 100% happy that they can back up their promise.\r\n\r\nBy virtue of the fact, I work with these companies almost daily. I am more than confident to have them advertise on my website.\r\n\r\nAny reader who buys products or services from any advertiser via a banner on my website, <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a> will automatically have my help and assistance with any issues that they may have with my partnered advertisers.\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">TRADING &amp; PERFORMANCES DISCLAIMER:</span>\r\n\r\nFLASH, RADAR and FUNDAMENTAL trade set-ups, “Tweets” and “Trade ideas” that are posted in my blogs or on Twitter are trades and set-ups that interest me. They are provided for training and informational purposes only and should not be interpreted as an offer, solicitation or recommendation of any specific security or investment strategy. Past performance is not indicative of future results. Trading Forex carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to trade any such leveraged products you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with trading on margin, and seek advice from an independent financial adviser if you have any doubts.','DON\'T GET SUCKERED INTO USD LONG TRADES NOW','','inherit','open','closed','','5452-revision-v1','','','2015-03-07 17:20:24','2015-03-07 22:20:24','',5452,'https://weeklyfxdrivethru.com/5452-revision-v1/',0,'revision','',0),(5460,1,'2015-03-07 17:34:23','2015-03-07 22:34:23','<section class=\"one-sixth first\">\r\n<h4>Completed Trades Risk/Reward Analysis Archives</h4>\r\n<div class=\"menu\"><a class=\"flashmenu-item\" href=\"#\">2015</a></div>\r\n</section><section class=\"five-sixths\">\r\n<div class=\"one-half first\">\r\n<h2>This Year\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/RISK-REWARD-08032015.png\"><img class=\"aligncenter size-full wp-image-5419\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/RISK-REWARD-08032015.png\" alt=\"RISK-REWARD 08032015\" width=\"440\" height=\"549\" /></a></h2>\r\n&nbsp;\r\n\r\n</div>\r\n<div class=\"one-half\">\r\n<h2>PREVIOUS YEARS\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/12/PREM-SERV-RISK-REWARD-31122014-YTD.png\"><img class=\"aligncenter size-full wp-image-4964\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/12/PREM-SERV-RISK-REWARD-31122014-YTD.png\" alt=\"PREM SERV RISK-REWARD 31122014 YTD\" width=\"436\" height=\"543\" /></a></h2>\r\n</div>\r\n</section>','COMPLETED TRADES RISK / REWARD ANALYSIS','','inherit','open','closed','','5006-revision-v1','','','2015-03-07 17:34:23','2015-03-07 22:34:23','',5006,'https://weeklyfxdrivethru.com/5006-revision-v1/',0,'revision','',0),(5461,1,'2015-03-07 17:35:17','2015-03-07 22:35:17','<section class=\"pdf-links\">\r\n<div class=\"one-third first\">\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/02/TRADING-WITH-ATRs.pdf\">TRADING WITH ATR\'s</a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/02/HEDGING.pdf\">HEDGING</a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/02/CREATING-A-TRADING-PLAN-3.0.pdf\">CREATING A TRADING PLAN</a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/03/FOLLOWING-YOUR-TRADING-PLAN-.pdf\">FOLLOWING YOUR TRADING PLAN</a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/03/PLANNING-YOUR-TRADES-2.0.pdf\">PLANNING YOUR TRADES (2.0)</a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/03/MANAGING-RISK.pdf\">MANAGING RISK</a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/03/STOP-PLACEMENT.pdf\">STOP PLACEMENT</a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/04/MAXIMISING-PROFIT-POTENTIAL-BY-PROPERLY-SIZING-POSITIONS.pdf\">MAXIMISING PROFIT POTENTIAL BY PROPERLY SIZING POSITIONS</a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/04/TRADING-AROUND-THE-NEWS.pdf\">TRADING AROUND THE NEWS</a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/04/HANDLING-NEWS-WITH-AN-OPEN-POSITION.pdf\">HANDLING NEWS WITH AN OPEN POSITION</a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/04/LIVE-ACCOUNT-vs-DEMO-ACCOUNT.pdf\">LIVE ACCOUNT vs DEMO ACCOUNT</a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/04/TRADING-WITH-A-FLEXIBLE-MINDSET.pdf\">TRADING WITH A FLEXIBLE MINDSET</a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/05/PROBABILITIES-IN-TRADING.pdf\">PROBABILITIES IN TRADING</a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/05/TRADING-PSYCHOLOGY-AND-DRAWDOWNS.pdf\">TRADING PSYCHOLOGY AND DRAWDOWNS</a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/05/TRADING-PSYCHOLOGY-RECENCY-BIAS.pdf\">TRADING PSYCHOLOGY - RECENCY BIAS</a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/06/A-MATHEMATICAL-APPROACH-TO-ELIMINATING-EMOTIONS.pdf\">A MATHEMATICAL APPROACH TO ELIMINATING EMOTIONS</a>\r\n\r\n</div>\r\n<div class=\"one-third\">\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/01/ARE-YOU-FORCING-TRADES_.pdf\">ARE YOU FORCING TRADES_</a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/06/TIPS-IN-ADJUSTING-TO-THE-FOREX-MARKET-WHEN-THERE-IS-LOW-VOLATILITY.pdf\">TIPS IN ADJUSTING TO THE FOREX MARKET WHEN THERE IS LOW VOLATILITY</a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/09/TIPS-ON-GETTING-BACK-INTO-TRADING-AFTER-A-BREAK.pdf\">TIPS ON GETTING BACK INTO TRADING AFTER A BREAK</a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/07/FX-BROKERS-PART-1.pdf\">FX BROKERS -PART 1</a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/07/FX-BROKERS-PART-2.pdf\">FX BROKERS - PART 2</a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/09/TRADING-MISTAKES-THAT-MAY-BE-LIMITING-YOUR-PROFITABILITY.pdf\">TRADING MISTAKES THAT MAY BE LIMITING YOUR PROFITABILITY</a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/09/TRADING-OUTSIDE-OF-YOUR-COMFORT-ZONE.pdf\">TRADING OUTSIDE OF YOUR COMFORT ZONE</a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/09/ARE-YOU-PREDICTING-PRICE-ACTION_.pdf\">ARE YOU PREDICTING PRICE ACTION</a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/10/DONT-GIVE-UP-ON-YOUR-TRADE-PLAN.pdf\">DON\'T GIVE UP ON YOUR TRADE PLAN</a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/10/HOW-TO-ADJUST-TO-CHANGING-TRADING-CONDITIONS.pdf\">HOW TO ADJUST TO CHANGING TRADING CONDITIONS</a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/10/HOW-TO-HANDLE-YOUR-FOREX-TRADING-WORRIES.pdf\">HOW TO HANDLE YOUR FOREX TRADING WORRIES</a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/11/3-WAYS-TO-ENHANCE-YOUR-FOREX-TRADING-SKILLS.pdf\">3 WAYS TO ENHANCE YOUR FOREX TRADING SKILLS</a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/11/THE-STAGES-OF-LOSS-IN-FOREX.pdf\">THE STAGES OF LOSS IN FOREX</a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/11/ARE-YOU-A-GREEDY-FOREX-TRADER_.pdf\">ARE YOU A GREEDY FOREX TRADER_</a>\r\n\r\n</div>\r\n<div class=\"one-third\">\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/11/SEVERAL-WAYS-TO-OVERCOME-TRADING-BURNOUT.pdf\">SEVERAL WAYS TO OVERCOME TRADING BURNOUT</a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/11/HOW-YOUR-PHYSICAL-WELL-BEING-AFFECTS-YOUR-FX-TRADING.pdf\">HOW YOUR PHYSICAL WELL-BEING AFFECTS YOUR FX TRADING</a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/12/5-OF-THE-WORST-EXCUSES-TO-NOT-START-TRADING.pdf\">5 OF THE WORST EXCUSES TO NOT START TRADING</a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/01/MY-APPROACH-ON-POSITION-SIZING.pdf\">MY APPROACH ON POSITION SIZING</a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/01/8-QUICK-REMINDERS-BEFORE-MAKING-YOUR-2015-TRADING-GOALS.pdf\">8 QUICK REMINDERS BEFORE MAKING YOUR 2015 TRADING GOALS</a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/01/IDEAS-THAT-MAYBE-YOU-SHOULD-ADD-TO-YOUR-FOREX-TRADING-RESOLUTIONS.pdf\">IDEAS THAT MAYBE YOU SHOULD ADD TO YOUR FOREX TRADING RESOLUTIONS</a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/POSITION-SIZING...TIPS-ON-HOW-TO-AVOID-RISKING-TOO-MUCH.pdf\">POSITION SIZING...TIPS ON HOW TO AVOID RISKING TOO MUCH</a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/HOW-TO-PLAN-YOUR-FOREX-TRADE-EXITS.pdf\">HOW TO PLAN YOUR FOREX TRADE EXITS</a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/THE-5-MOST-COMMON-MISTAKES-NEWBIE-TRADERS-MAKE.pdf\">THE 5 MOST COMMON MISTAKES NEWBIE TRADERS MAKE</a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/THE-CRITICAL-SUCCESS-FACTORS-YOU-NEED-TO-BECOME-A-SUCCESSFUL-TRADER.pdf\">THE CRITICAL SUCCESS FACTORS YOU NEED TO BECOME A SUCCESSFUL TRADER</a>\r\n\r\n&nbsp;\r\n\r\n</div>\r\n</section>\r\n<div class=\"one-half first\">These resources are in PDF format that will allow for easy printing</div>','Trading Essentials','','inherit','open','closed','','2538-revision-v1','','','2015-03-07 17:35:17','2015-03-07 22:35:17','',2538,'https://weeklyfxdrivethru.com/2538-revision-v1/',0,'revision','',0),(5462,1,'2015-03-08 05:34:00','2015-03-08 10:34:00','<h3 style=\"text-align: center;\"><strong>THE PREMIUM SERVICE\r\n</strong><strong>(The Home of Single-Lot $$$$ Trading)</strong></h3>\r\n<strong>DATE: 08.03.2015\r\nREFERENCE: #142\r\n</strong><strong>BLOG: THE WEEKLY FX DRIVE THRU</strong>\r\n\r\n&nbsp;\r\n<ol>\r\n	<li><strong><span style=\"text-decoration: underline;\"> INTRODUCTION / LOOKING BACK OVER THE PAST WEEK:</span></strong></li>\r\n</ol>\r\nThe title of my main article for the blog last week was:\r\n\r\n<strong>DON’T BE CRAZY AND IGNORE USD STRENGTH…\r\n</strong><strong>THE USD RALLY GOES ON</strong>\r\n\r\nWell, quite a good title...  as the DXY roadshow rolled onwards and upwards once again.\r\n\r\nAfter NFP we hit just below 98.00. The big 100.00 is next. As with all things that relate to the markets the big round numbers may beckon and it may appear from longer-term charts that there is a Star Trek “tractor beam” sucking the currency pair or whatever towards the objective, but as soon as you go into smaller minute charts you can see the conflict between buyers and sellers as the big number and stop loss runs approach. Will the DXY 100.00 be the same? I have no reason to doubt that it will not. If you look at the chart below, you can see that the move higher, has been swift followed by consolidation, then a swift move again, followed by another period of consolidation.\r\n\r\nIn my opinion, I think we will get close, then consolidate, and then, make one or two runs before passing by 100.00. Lets face facts the USD is well overbought and we need to see maybe a small pullback / consolidation before moving higher.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/DXY-08032015.png\"><img class=\"aligncenter size-large wp-image-5427\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/DXY-08032015-1024x445.png\" alt=\"DXY 08032015\" width=\"1024\" height=\"445\" /></a>\r\n\r\n&nbsp;\r\n\r\n100.00 on the DXY, in my eyes, places the EUR/USD below 1.0750, possibly closer to 1.0650. It is only horizontal support, but it was a level previously (see the chart below).\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/EURUSD-MONTHLY-08032015.png\"><img class=\"aligncenter size-large wp-image-5437\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/EURUSD-MONTHLY-08032015-1024x517.png\" alt=\"EURUSD MONTHLY 08032015\" width=\"1024\" height=\"517\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\nIn last week’s blog I also posted a suggestion of pairs to trade simply based upon Central Bank divergences. Had you blindly just taken these trades at the open on last Sunday through to last week’s close on Friday night the trading result is below: -\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/CENTRAL-BANK-DIVERGENCES-08032015.png\"><img class=\"aligncenter size-full wp-image-5428\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/CENTRAL-BANK-DIVERGENCES-08032015.png\" alt=\"CENTRAL BANK DIVERGENCES 08032015\" width=\"415\" height=\"323\" /></a>\r\n\r\n&nbsp;\r\n\r\nThe chart above is what makes Forex trading so rewarding / frustrating / annoying / satisfying etc… see below.\r\n\r\nFUNDAMENTALLY, following recent Central Bank policy confirmation or changes in monetary policy these trades should have all worked. One can argue placing a commodity cross-rate pair in the original list was a little contentious, but it still should have worked given the differences in Central Bank policies between the BOE and RBA.\r\n\r\nHowever, Forex Trading also allows for oddball moments. The Cable (GBP) is also in a period of uncertainty with elections on the horizon and with its proximity to the EUROZONE (its major trading partner), we saw it drop in sympathy when the single currency came under pressure with relentless selling. Plus, we have to consider the EUR/GBP, the “richest” currency pair to trade from a $$$ perspective. The EUR/GBP is like the EUR/JPY both of these pairs are more of a major currency than the USD/CAD or NZD/USD looking from a volume / liquidity perspective. The cross-rate effects of the EUR/GBP would also weigh on the GBP in general. This would override movements in the GBP/AUD and basically due to the fact that it is a lower liquidity pair it just did its own thing. This pair is usually more associated with a “RISK OFF “ and therefore one would have expected a sell-off after NFP, given that the AUD/USD sold off… it didn’t happen. I think it just fell into the general selling of cable across the board.\r\n\r\nWith regards to the table and the “PIP” opportunities: -\r\n\r\nThe PREMIUM SERVICE went to town on the USD/CHF there is a core position still in play with over 220 pips profit available. This is after having taken lots of pips and banking $$$ through multiple trades along the way for basically the last two weeks or so.\r\n\r\nSome $$$ was also taken from the EUR/USD, but I was pre-occupied believing a bounce was soon to happen given the oversold conditions so for the most times I stayed away. The AUD/USD featured only a couple of times over the past week. With reference to the GBP/AUD the PREMIUM SERVICE is still long with a hedged position in place to minimize RISK.\r\n\r\nMoving on…\r\n\r\nOver the past week we saw the RBA keep interest rates on hold (buggers!), I was looking for them to cut (buggers!).\r\n\r\nThe BOC also kept rates on hold and the CAD strengthened like crazy (buggers!).\r\n\r\nThe ECB press conference saw Mario Draghi announce that from tomorrow March 9<sup>th</sup> 2015, the ECB would start its QE bond-buying program. The comments from Draghi confirmed that it would be an open-ended program if required and that the ECB would purchase negative interest rate bonds as well. These two pieces of news sent the EUR/USD below 1.1000.\r\n\r\nOn Friday, we had Non Farm Payrolls from the U.S. – yet another batch of great numbers. The equity markets sold off on the release as the noises to raise interest rates in the U.S. before the summer this year increased in volume.\r\n\r\nIn my opinion, the Central Bank divergence trade (talked about above) is even more obvious to me. If you are not yet long the USD, it is best to wait a while for a pullback in the DXY. Let it consolidate first to allow you to buy at better prices. Patience is what is required and I think that we need to test recent breakout levels in the DXY to get great entry trades to go long the USD.\r\n\r\nI haven’t mentioned GREECE yet. I think that the four-month loan extension took GREECE off the front page for a few days, however…. There is a EUROGROUP meeting with GREEK officials tomorrow (Monday 9<sup>th</sup> March), and, apparently, Tsipras asked to meet Junker privately ahead of the meeting. Junker allegedly refused the meeting. Therefore, be ready for quotes and sound-bytes from tomorrow onwards.\r\n\r\nAs I have written for the past two weeks the EUROGROUP v GREECE … IT’S NOT OVER YET. There will be more and more talk in line with the mandate that the Greek government was elected on. The average citizen of Greece couldn’t give a crap about what Schaeuble or Merkel says … they are Germans. The GREEK government was elected on a mandate of a better deal with Brussels / Berlin / Frankfurt. If they do not fulfill this mandate, they are out. They are politicians for God’s sake.\r\n\r\nIn my opinion this has NOT EVEN STARTED!!\r\n\r\n&nbsp;\r\n<ol start=\"2\">\r\n	<li><strong><span style=\"text-decoration: underline;\"> WHAT’S ON MY MIND: -\r\nTHE FUNDAMENTAL TRADERS OVERVIEW:</span></strong></li>\r\n</ol>\r\n<em>PLEASE NOTE:</em>\r\n\r\n<em>(I am NOT going to fill this section of the blog with charts; there are for PREMIUM SERVICE subscribers a further 8 charts of trade opportunities in their extended version of the blog which if you were to print a hard copy would generate over 35 pages when you include all the other exclusive content).</em>\r\n<h3 style=\"text-align: center;\"><strong>DON’T GET SUCKERED INTO USD LONG TRADES NOW</strong></h3>\r\nThe title of this week’s main article may confuse a few readers, maybe a lot, I don’t know, given that for the past who knows how long I have been banging on about the strength of the USD.\r\n\r\nTake it from me I have given enough easy money to brokers over the past seven / eight years and now is not the time to jump in blindly or with your eyes open.\r\n\r\nWhy would I say this?\r\n\r\nWe have just completed a week were the DXY has exploded higher basically on the back of the reality of the ECB quantitative easing (QE) starting from tomorrow.\r\n\r\nWe received the detail from Draghi on several issues that the markets wanted; commencement date, buying bonds with negative yield, no firm deadline of program, and delay on GREECE being part of the program plus the “Walt Disney” moment of the Mickey Mouse economic forecasts that the ECB loves to provide and then revise the knickers off them as we move forward. (It reminds me of the Mervyn King ex. BOE governor whose inflation forecasts were never achieved and he kept making excuses for this for his entire tenure at the BOE. The process is still alive and carries on with Draghi…. !)\r\n\r\nIn addition, the explosive move higher was in no small part due to the USD NFP Jobs data, absolutely incredible numbers…. (If only, Frank Underwood could achieve this with his “America Works” initiative).\r\n\r\nWe have moved to be within touching distance of the triple digit 100.00 level. As mentioned previously, “the algo” traders and systems will not require Viagra this weekend as they assess the potential opportunities that lay ahead.\r\n\r\nIt all sounds nicely bullish doesn’t it… it is nicely bullish. But this does not mean that as traders we have a Stevie Wonder moment.\r\n\r\nThink….\r\n\r\nMassive moves in all the USD majors… previous ranges blown apart…. Equities coming off tops as the realization has finally sunk in with equity traders that interest rates in the U.S. will be going up and personally, I would not rule out one 0.25% increase in June prior to the summer break.\r\n<ul>\r\n	<li>Commodity prices are dumping GOLD, OIL, COPPER, and IRON ORE.</li>\r\n	<li>China is consistently buying fewer commodities and lowering growth projections because they are manufacturing less; it is a fecking slowdown.</li>\r\n	<li>The BOJ is heavily rumoured to be stopping its QE program.</li>\r\n	<li>Central Bank divergences – it is a race to the bottom.</li>\r\n</ul>\r\nDEFLATION is an issue it’s not just in the EUROZONE where 17 out of the 19 single currency users have DEFLATION. It’s widespread throughout the world, and our “ROCK GOD’S” aka Central Bank Presidents or Governors do NOT know how to fight it.\r\n\r\nIt is all USD positive…\r\n\r\nYou need pullbacks to enter and they could be up to 200 pips away from current prices depending on what currency pair you are looking at.\r\n\r\nLets look at the closes this week compared to last week: -\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/USD-MAJOR-CLOSING-PRICE-COMPARED-08032015.png\"><img class=\"aligncenter size-full wp-image-5449\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/USD-MAJOR-CLOSING-PRICE-COMPARED-08032015.png\" alt=\"USD MAJOR CLOSING PRICE COMPARED 08032015\" width=\"388\" height=\"430\" /></a>\r\n\r\n&nbsp;\r\n\r\nAs you can see from the chart above a simple USD long of a single lot trade across all the USD majors would have generated 1,606 pips. Even with a lot of Central Bank speak sometimes against the FED, the USD won through.\r\n\r\nThese moves show who is King… if you take nothing else away from this blog take that alone.\r\n\r\nThese moves will continue. But they cannot, or, rather should not be just a relentless one-way move. There are always external factors away from the USD to consider.\r\n\r\nJust ignore targets in the EUR/USD, GBP/USD and the other pairs and focus on the DXY 100.00 level. You can virtually take it as read that the key levels / targets will co-ordinate as they approach.\r\n\r\nVolatility will be high as we approach key levels. Index and currency traders will know the levels that they have targeted but the bug banks will have huge barriers in place to try and move the markets the way they want it. As retail traders our jobs are to come in on the coat tails of these moves and look at the probabilities of the potential moves ahead.\r\n\r\nI am a USD bull and have been for many, many months (check the previous posts).\r\n\r\nTo be long the USD is in my opinion the only Forex trade right now that makes clear sense, and you could jump on board now but you may require deep pockets to hold onto loss making trades through what should be an inevitable consolidation period with potential for some deep pullbacks, as I said before the USD is overbought.\r\n\r\nMy job now for my subscribers is to suggest pullback entry levels to get long the USD with entry-level trades to enter the major pairs. This process will be outlined later in this blog.\r\n\r\nFor non-subscribers, be patient and do not go all in on the back of the media coverage of the strong USD, which will be hitting CNBC and BLOOMBERG with an even greater intensity next week.\r\n\r\nFridays NFP was a blow to equity market traders, who are having their period of easy money making being pulled from under them.\r\n\r\nThe USD has been a sleeper for 30+ years, more than a generation… No-one trading on Wall Street has seen anything like this before. Every DOW and nearly all the S&amp;P companies keep talking about currency headwinds being an issue. When they were being spoon-fed it was never a tailwind supporting them. This is no surprise, it has been coming for months, it just shows how poor a stock of CEO’s, and CFO’s are running businesses that they do not have the ability to forward plan. All I hear are excuses not solutions.\r\n\r\nWe are entering unchartered territory; we need to buy at the best prices we can to maximize the most of the potential moves ahead.\r\n\r\nPersonally, I will trade from a core position and add subsequent positions to take on-going day trade $$$ profits from. This is a motivational way to trade as your broker account gets $$$ and at the same time the core trade stops are being revised to protect $$$.\r\n\r\nThe last time that I was able to trade like this was believe it or not during parts of the financial crash all those years ago…fádo, fádo, (long long ago).\r\n\r\nAs always do not have “A rush of blood to the head” as Chris Martin would sing, set your entries MAKE A PLAN and TRADE YOUR PLAN.\r\n\r\n&nbsp;\r\n<ol start=\"3\">\r\n	<li><strong><span style=\"text-decoration: underline;\"> THE PREMIUM SERVICE:\r\n</span></strong></li>\r\n</ol>\r\n<strong><span style=\"text-decoration: underline;\">SUMMARY OF PERFORMANCE:</span></strong>\r\n\r\n<span style=\"text-decoration: underline;\">3.1 OVERVIEW:</span>\r\n\r\nFor new readers who may not be aware, I refer to the PREMIUM SERVICE quite a lot in this blog and for more details about what it is, and, how much it costs, you will need to go the welcome page of <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a> At the top of the page there are three drop down menus: PREMIUM SERVICE, PROMOTIONS (if available), SIGN-UP and DISCLAIMER. Further details and how to join are all contained there. You will need at PayPal account to subscribe.\r\n\r\n<span style=\"text-decoration: underline;\">3.2.1 PREMIUM SERVICE – SUBSCRIPTION COSTS:</span>\r\n\r\nFull details regarding the PREMIUM SERVICE can be found on my website <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a>\r\n<p style=\"text-align: center;\">On the welcome page there are a series of TABS at the top of the page that provide a summary of what the PREMIUM SERVICE is about and what you receive for your subscription.</p>\r\n<strong>THE 2015 SUBSCRIPTION BREAKDOWN IS AS FOLLOWS: -</strong>\r\n<p style=\"text-align: center;\"><strong>10 weeks - $200.00</strong>\r\n<strong>20 weeks - $350.00</strong>\r\n<strong>40 weeks - $500.00</strong></p>\r\n<span style=\"text-decoration: underline;\">3.2.2. PREMIUM SERVICE – CHANGES IN SUBSCRIPTION VARIABLES (INCLUDING COMMUNICATION OPTIONS AND PRICING / COSTS):</span>\r\n\r\nIf you recall, towards the end of 2014, I blogged about possible, potential changes for the PREMIUM SERVICE in 2015. I had several website options, in particular, that I did not complete. The main reason that I have held off is related to deciding upon what to do regarding space issues.\r\n\r\nLooking into possible changes / improvements, believe it or not sparked the wider ranging review to explore the possible paths forward looking ahead 2/3 years.\r\n\r\nOne of the things I decided to do to help me in my decision process about how things should look moving forward was to look at competitors.\r\n\r\nSo over the past two / three weeks, I have had research carried out on lead based Forex service providers. This turned out to be just a starting point. The research became much wider embracing many aspects of what I currently do, what I had hoped to do in future and much, much more.\r\n\r\nMy GOD….\r\n\r\nThe volumes of information, the number of companies / individuals involved… the pricing… what you receive for your subscription etc. is so varied, so complex to categorize at times that it is proving to be an enormous exercise\r\n\r\nReviewing my options about how I move forward is not just about cost. This is also about my own personal work / life balance. I am presently living in Canada and living / trading European and North American sessions and being around for early Asian sessions as well…. that\'s about 18 hours a day!! I love it, I really love trading Forex and being close to my screens when news breaks or currency pairs move wildly but it’s plain crazy, and, with technology and other alternatives I want to streamline several “Front of the house and backroom” functions.\r\n\r\nThe process moving forward involves: -\r\n<ul>\r\n	<li>COMMUNICATION and REPORTING OPTIONS</li>\r\n	<li>WEBSITE OPTIONS and CAPABILITIES</li>\r\n	<li>PRICE and TIERED SUBSCRIPTIONS</li>\r\n	<li>TRAINING and MENTORING</li>\r\n	<li>PARTNERSHIP PROGRAMS and INITIATIVES</li>\r\n</ul>\r\nThe list is wider and very interesting, if I was still in the corporate world, but I have been reducing the categories…I am me - NOT Goldman Sachs or Citi.\r\n\r\nPersonally, I do not want to over-complicate “ subscriptions” by having various levels of subscribers. I prefer the “all-in” approach, but changes will be happening across the board. But nothing is off limits.\r\n\r\nFor existing subscribers there will be a questionnaire released as soon as the research is completed to obtain your views.\r\n\r\nFrom a timing perspective, changes should start to appear I think possibly as early as April, after the first quarter has ended. Watch this space for updates.\r\n\r\n<span style=\"text-decoration: underline;\">3.3.1. TRADING REVIEW OF ACTIVITY and SUMMARY OF PERFORMANCE:</span>\r\n\r\nLast week I made the decision based upon the lack of inter-market and inter-currency correlations and what I saw as unreal market divergences to close off all bar one of the commodity cross rate pairs. The EUR/AUD, GBP/AUD, EUR/NZD, GBP/NZD and EUR/CAD were all closed. Whilst I had all of these trades hedged I still posted a 720 pips loss for those 5 trades. The GBP/CAD I retained as I felt that this pair offered the best bullish overall pattern.\r\n\r\nThe day after I closed the trades correlations and divergences returned back to almost normal in my opinion and of course the trades started to bottom out. After NFP they had all recovered quite a margin off their lows. Last week’s NFP was probably the easiest one to trade for some time; it really was directional and most of the time relentless.\r\n\r\nDo not panic if you did not fully participate in NFP (I didn’t either), I have a mixed performance on NFP and the Monday / Tuesday after and I have now made it a policy to trade extremely light around these days.\r\n\r\nHowever: -\r\n<ul>\r\n	<li>There will be pullbacks if you missed the big moves.</li>\r\n	<li>This is Forex levels are always tested.</li>\r\n	<li>It’s all about looking at charts trying to figure out what are the key levels.</li>\r\n	<li>There are always ‘High Probability” trades after NFP.</li>\r\n	<li>It’s all about patience. Forex is a long distance marathon not a 100-metre dash.</li>\r\n	<li>Measure your performance by the month, quarters if you take longer-term views.</li>\r\n</ul>\r\nTaking a step back…\r\n\r\nTrading this week was generally good; I re-cooped all of the 720-pip loss referred to above. I have posted 614 pips on closed trades, plus I have a good number of pips in trades that have been carried forward from last week into this week. Barring a crisis at the open later today, all things are positive looking forward into next week.\r\n\r\nMy comments from last week regarding my RADAR TRADE set-ups have not been followed through with yet. Only two RADAR TRADES were completed last week, both profitable. Unfortunately this is not a number from which to draw conclusions from.\r\n\r\nLast week there were 6 new trades that closed and all were profitable. Happy Days. However, when you add the 5 x FUNDAMENTAL commodity cross-rate trades, these were the only losing trades to close during last week the $$$$ return from the PREMIUM SERVICE trades year to date reduced by $1,060.00. I am delighted though, to have generated over 600 closed pips in the week to offset the 720 that were lost on the commodity cross rate trades.\r\n\r\nThe usual summary charts detailing the week and year to date performances, are below: -\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">3.3.2. – PREMIUM SERVICE PROFIT/LOSS RATIOS:</span>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/PROFIT-LOSS-RATIO-08032015.png\"><img class=\"aligncenter size-full wp-image-5418\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/PROFIT-LOSS-RATIO-08032015.png\" alt=\"PROFIT-LOSS RATIO 08032015\" width=\"403\" height=\"583\" /></a>\r\n\r\n<span style=\"text-decoration: underline;\">3.3.3. – PREMIUM SERVICE RISK/REWARD ANALYSIS:</span>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/RISK-REWARD-08032015.png\"><img class=\"aligncenter size-full wp-image-5419\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/RISK-REWARD-08032015.png\" alt=\"RISK-REWARD 08032015\" width=\"440\" height=\"549\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">3.3.4. – PREMIUM SERVICE OVERALL TRADE SUMMARY MONTH &amp; YTD:</span>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/PREM-SERV-PROFITS1-08032015.png\"><img class=\"aligncenter size-full wp-image-5420\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/PREM-SERV-PROFITS1-08032015.png\" alt=\"PREM SERV PROFITS1 08032015\" width=\"462\" height=\"430\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/PREM-SERV-PROFITS2-08032015.png\"><img class=\"aligncenter size-full wp-image-5421\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/PREM-SERV-PROFITS2-08032015.png\" alt=\"PREM SERV PROFITS2 08032015\" width=\"467\" height=\"421\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n<ol start=\"4\">\r\n	<li><strong><span style=\"text-decoration: underline;\"> PREMIUM SERVICE SUBSCRIBER EXCLUSIVE CONTENT:</span></strong></li>\r\n</ol>\r\n(Section 4 is exclusive PREMIUM SERVICE content only available to PREMIUM SERVICE subscribers)\r\n\r\n<span style=\"text-decoration: underline;\">4.1 EDUCATION:\r\n</span>(The full list of all items and more from this section can be found in the PREMIUM SERVICE website in the Trade Essential area under the EDUCATION tab.)\r\n\r\n<span style=\"text-decoration: underline;\">4.2 THE PREMIUM SERVICE - EXISTING LIVE TRADES:</span>\r\n\r\n<span style=\"text-decoration: underline;\">4.3 THE PREMIUM SERVICE – EXISTING LIMIT ORDERS:</span>\r\n\r\n<span style=\"text-decoration: underline;\">4.4 POTENTIAL TRADES - WHAT CHARTS AM I LOOKING AT?</span>\r\n\r\n<span style=\"text-decoration: underline;\">4.5 MAJOR TRADING PAIRS WITH LONGER-TERM TRENDS MATCHING:</span>\r\n\r\n<span style=\"text-decoration: underline;\">4.6 THE KEY SUPPORT &amp; RESISTANCE LEVELS WITH THE USD MAJORS</span><strong><span style=\"text-decoration: underline;\">:\r\n</span></strong>(This content is now for PREMIUM SERVICE subscribers only, it allows me to refer to existing and future set-ups that form part of the PREMIUM SERVICE subscription)\r\n\r\n&nbsp;\r\n<ol start=\"5\">\r\n	<li><strong><span style=\"text-decoration: underline;\"> THE WEEK AHEAD: -\r\nWHAT AM I THINKING &amp; WHAT AM I LOOKING AT?</span></strong></li>\r\n</ol>\r\n<span style=\"text-decoration: underline;\">5.1 MAJOR FOREX NEWS THIS WEEK THAT INTERESTS ME:</span>\r\n\r\nSUNDAY: N/A.\r\n\r\nMONDAY: AUD – NAB Business Confidence.\r\nMONDAY: CNY – CPi and Trade Balance.\r\n\r\nTUESDAY: N/A.\r\n\r\nWEDNESDAY: NZD – RBNZ Cash Rate, Policy Statement &amp; Press Conference.\r\nWEDNESDAY: AUD – Employment Data.\r\n\r\nTHURSDAY: USD – Core Retail Sales.\r\n\r\nFRIDAY: CAD – Employment Data.\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">5.2 FINAL THOUGHTS / CLOSING COMMENTS:</span>\r\n\r\nChinese CPI and Trade Balance, CAD and AUD Employment Data plus U.S. Core Retail sales are on the agenda for news items this week, but the pick of the events has to be the RBNZ interest rate announcement, statement and press conference.\r\n\r\nI recall writing a few weeks ago that I believed that a trending market would return soon. I still believe that it will but I really hope that we do not have to wait until the Fed raises interest rates before we see it. The USD strength story will no doubt dominate the likes of CNBC and Bloomberg TV and the fact that a big 100.00 number looms you can imagine that they will soon start to talk about it more.\r\n\r\nAs we edge closer to 100.00 on the DXY, I fear that we will reach yet another period of chop, chop, chop in the market as buyers and sellers battle it out for supremacy. This period of consolidation may be painful to trade and may last for a week or so looking back at previous sideways moves in the DXY.\r\n\r\nWe will have opportunities to make $$$, we just have to be alert and careful.\r\n\r\nAs always, there will be trades to trade and there will be some great opportunities, please trade in line with your RISK MANAGEMENT parameters from your TRADING PLAN. If you do not have a TRADE PLAN, in my opinion, you should, as this will help you with consistency.\r\n<p style=\"text-align: center;\"><strong>Consistency = longevity in trading and that is a critical goal.\r\nIT IS THE KEY MEASUREMENT</strong></p>\r\nBefore you enter a trade work out the risk, price it in $$$. Place your stop accordingly. PREMIUM SERVICE subscribers have a full library of information on RISK MANAGEMENT, RISK TOLERANCES and POSITION SIZING etc. available for reference 24x7.\r\n\r\nTake care.\r\n\r\nScott Pickering\r\nThe Pip Accumulator\r\nSunday March 8th 2015\r\n\r\nEMAIL / FOLLOW ME AT:\r\ndrivethru@weeklyfxdrivethru.com\r\nTwitter: @pipaccumulator\r\n<span style=\"line-height: 1.5;\">Google+/scottpickering\r\n</span>Tumblr: thepipaccumulator\r\n\r\n&nbsp;\r\n\r\n<strong><span style=\"text-decoration: underline;\">DISCLAIMER &amp; OTHER DATA:</span></strong>\r\n\r\n<span style=\"text-decoration: underline;\">SUBSCRIBING TO THE “FREE VERSION” OF THE WEEKLY FX DRIVE THRU:</span>\r\n\r\nIf you like what you have almost completed reading and want to have THE WEEKLY FX DRIVE THRU delivered direct to your email inbox next week, here is what you do: -\r\n\r\nGo to my website: - <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a>\r\n\r\nOn the right hand side of the welcome page under my bio “about me” there is a blue box titled SUBSCRIBE TO FREE NEWSLETTER, click on profile and add your email address. It is as simple and straightforward as that.\r\n\r\nI do NOT sell your email data to anyone…do not worry...one less thing to worry about!\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">THIRD PARTY COMPANIES WITH BANNERS ON MY WEBSITE:</span>\r\n\r\nThere are a small number of companies with banners on my website. In the interests of full disclosure I have a reciprocal business arrangement with these companies to promote their products.\r\n\r\nUnlike many of my competitors, I use the products and services provided by these companies. I will NOT allow any third party on my website unless I am 100% happy that they can back up their promise.\r\n\r\nBy virtue of the fact, I work with these companies almost daily. I am more than confident to have them advertise on my website.\r\n\r\nAny reader who buys products or services from any advertiser via a banner on my website, <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a> will automatically have my help and assistance with any issues that they may have with my partnered advertisers.\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">TRADING &amp; PERFORMANCES DISCLAIMER:</span>\r\n\r\nFLASH, RADAR and FUNDAMENTAL trade set-ups, “Tweets” and “Trade ideas” that are posted in my blogs or on Twitter are trades and set-ups that interest me. They are provided for training and informational purposes only and should not be interpreted as an offer, solicitation or recommendation of any specific security or investment strategy. Past performance is not indicative of future results. Trading Forex carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to trade any such leveraged products you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with trading on margin, and seek advice from an independent financial adviser if you have any doubts.','DON\'T GET SUCKERED INTO USD LONG TRADES NOW','','publish','open','closed','','dont-get-suckered-into-usd-long-trades-now','','','2015-03-08 05:34:00','2015-03-08 10:34:00','',0,'https://weeklyfxdrivethru.com/?p=5462',0,'post','',0),(5463,1,'2015-03-08 05:31:13','2015-03-08 10:31:13','<h3 style=\"text-align: center;\"><strong>THE PREMIUM SERVICE\r\n</strong><strong>(The Home of Single-Lot $$$$ Trading)</strong></h3>\r\n<strong>DATE: 08.03.2015\r\nREFERENCE: #142\r\n</strong><strong>BLOG: THE WEEKLY FX DRIVE THRU</strong>\r\n\r\n&nbsp;\r\n<ol>\r\n	<li><strong><span style=\"text-decoration: underline;\"> INTRODUCTION / LOOKING BACK OVER THE PAST WEEK:</span></strong></li>\r\n</ol>\r\nThe title of my main article for the blog last week was:\r\n\r\n<strong>DON’T BE CRAZY AND IGNORE USD STRENGTH…\r\n</strong><strong>THE USD RALLY GOES ON</strong>\r\n\r\nWell, quite a good title...  as the DXY roadshow rolled onwards and upwards once again.\r\n\r\nAfter NFP we hit just below 98.00. The big 100.00 is next. As with all things that relate to the markets the big round numbers may beckon and it may appear from longer-term charts that there is a Star Trek “tractor beam” sucking the currency pair or whatever towards the objective, but as soon as you go into smaller minute charts you can see the conflict between buyers and sellers as the big number and stop loss runs approach. Will the DXY 100.00 be the same? I have no reason to doubt that it will not. If you look at the chart below, you can see that the move higher, has been swift followed by consolidation, then a swift move again, followed by another period of consolidation.\r\n\r\nIn my opinion, I think we will get close, then consolidate, and then, make one or two runs before passing by 100.00. Lets face facts the USD is well overbought and we need to see maybe a small pullback / consolidation before moving higher.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/DXY-08032015.png\"><img class=\"aligncenter size-large wp-image-5427\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/DXY-08032015-1024x445.png\" alt=\"DXY 08032015\" width=\"1024\" height=\"445\" /></a>\r\n\r\n&nbsp;\r\n\r\n100.00 on the DXY, in my eyes, places the EUR/USD below 1.0750, possibly closer to 1.0650. It is only horizontal support, but it was a level previously (see the chart below).\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/EURUSD-MONTHLY-08032015.png\"><img class=\"aligncenter size-large wp-image-5437\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/EURUSD-MONTHLY-08032015-1024x517.png\" alt=\"EURUSD MONTHLY 08032015\" width=\"1024\" height=\"517\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\nIn last week’s blog I also posted a suggestion of pairs to trade simply based upon Central Bank divergences. Had you blindly just taken these trades at the open on last Sunday through to last week’s close on Friday night the trading result is below: -\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/CENTRAL-BANK-DIVERGENCES-08032015.png\"><img class=\"aligncenter size-full wp-image-5428\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/CENTRAL-BANK-DIVERGENCES-08032015.png\" alt=\"CENTRAL BANK DIVERGENCES 08032015\" width=\"415\" height=\"323\" /></a>\r\n\r\n&nbsp;\r\n\r\nThe chart above is what makes Forex trading so rewarding / frustrating / annoying / satisfying etc… see below.\r\n\r\nFUNDAMENTALLY, following recent Central Bank policy confirmation or changes in monetary policy these trades should have all worked. One can argue placing a commodity cross-rate pair in the original list was a little contentious, but it still should have worked given the differences in Central Bank policies between the BOE and RBA.\r\n\r\nHowever, Forex Trading also allows for oddball moments. The Cable (GBP) is also in a period of uncertainty with elections on the horizon and with its proximity to the EUROZONE (its major trading partner), we saw it drop in sympathy when the single currency came under pressure with relentless selling. Plus, we have to consider the EUR/GBP, the “richest” currency pair to trade from a $$$ perspective. The EUR/GBP is like the EUR/JPY both of these pairs are more of a major currency than the USD/CAD or NZD/USD looking from a volume / liquidity perspective. The cross-rate effects of the EUR/GBP would also weigh on the GBP in general. This would override movements in the GBP/AUD and basically due to the fact that it is a lower liquidity pair it just did its own thing. This pair is usually more associated with a “RISK OFF “ and therefore one would have expected a sell-off after NFP, given that the AUD/USD sold off… it didn’t happen. I think it just fell into the general selling of cable across the board.\r\n\r\nWith regards to the table and the “PIP” opportunities: -\r\n\r\nThe PREMIUM SERVICE went to town on the USD/CHF there is a core position still in play with over 220 pips profit available. This is after having taken lots of pips and banking $$$ through multiple trades along the way for basically the last two weeks or so.\r\n\r\nSome $$$ was also taken from the EUR/USD, but I was pre-occupied believing a bounce was soon to happen given the oversold conditions so for the most times I stayed away. The AUD/USD featured only a couple of times over the past week. With reference to the GBP/AUD the PREMIUM SERVICE is still long with a hedged position in place to minimalize RISK.\r\n\r\nMoving on…\r\n\r\nOver the past week we saw the RBA keep interest rates on hold (buggers!), I was looking for them to cut (buggers!).\r\n\r\nThe BOC also kept rates on hold and the CAD strengthened like crazy (buggers!).\r\n\r\nThe ECB press conference saw Mario Draghi announce that from tomorrow March 9<sup>th</sup> 2015, the ECB would start its QE bond-buying program. The comments from Draghi confirmed that it would be an open-ended program if required and that the ECB would purchase negative interest rate bonds as well. These two pieces of news sent the EUR/USD below 1.1000.\r\n\r\nOn Friday, we had Non Farm Payrolls from the U.S. – yet another batch of great numbers. The equity markets sold off on the release as the noises to raise interest rates in the U.S. before the summer this year increased in volume.\r\n\r\nIn my opinion, the Central Bank divergence trade (talked about above) is even more obvious to me. If you are not yet long the USD, it is best to wait a while for a pullback in the DXY. Let it consolidate first to allow you to buy at better prices. Patience is what is required and I think that we need to test recent breakout levels in the DXY to get great entry trades to go long the USD.\r\n\r\nI haven’t mentioned GREECE yet. I think that the four-month loan extension took GREECE off the front page for a few days, however…. There is a EUROGROUP meeting with GREEK officials tomorrow (Monday 9<sup>th</sup> March), and, apparently, Tsipras asked to meet Junker privately ahead of the meeting. Junker allegedly refused the meeting. Therefore, be ready for quotes and sound-bytes from tomorrow onwards.\r\n\r\nAs I have written for the past two weeks the EUROGROUP v GREECE … IT’S NOT OVER YET. There will be more and more talk in line with the mandate that the Greek government was elected on. The average citizen of Greece couldn’t give a crap about what Schaeuble or Merkel says … they are Germans. The GREEK government was elected on a mandate of a better deal with Brussels / Berlin / Frankfurt. If they do not fulfill this mandate, they are out. They are politicians for God’s sake.\r\n\r\nIn my opinion this has NOT EVEN STARTED!!\r\n\r\n&nbsp;\r\n<ol start=\"2\">\r\n	<li><strong><span style=\"text-decoration: underline;\"> WHAT’S ON MY MIND: -\r\nTHE FUNDAMENTAL TRADERS OVERVIEW:</span></strong></li>\r\n</ol>\r\n<em>PLEASE NOTE:</em>\r\n\r\n<em>(I am NOT going to fill this section of the blog with charts; there are for PREMIUM SERVICE subscribers a further 8 charts of trade opportunities in their extended version of the blog which if you were to print a hard copy would generate over 35 pages when you include all the other exclusive content).</em>\r\n<h3 style=\"text-align: center;\"><strong>DON’T GET SUCKERED INTO USD LONG TRADES NOW</strong></h3>\r\nThe title of this week’s main article may confuse a few readers, maybe a lot, I don’t know, given that for the past who knows how long I have been banging on about the strength of the USD.\r\n\r\nTake it from me I have given enough easy money to brokers over the past seven / eight years and now is not the time to jump in blindly or with your eyes open.\r\n\r\nWhy would I say this?\r\n\r\nWe have just completed a week were the DXY has exploded higher basically on the back of the reality of the ECB quantitative easing (QE) starting from tomorrow.\r\n\r\nWe received the detail from Draghi on several issues that the markets wanted; commencement date, buying bonds with negative yield, no firm deadline of program, and delay on GREECE being part of the program plus the “Walt Disney” moment of the Mickey Mouse economic forecasts that the ECB loves to provide and then revise the knickers off them as we move forward. (It reminds me of the Mervyn King ex. BOE governor whose inflation forecasts were never achieved and he kept making excuses for this for his entire tenure at the BOE. The process is still alive and carries on with Draghi…. !)\r\n\r\nIn addition, the explosive move higher was in no small part due to the USD NFP Jobs data, absolutely incredible numbers…. (If only, Frank Underwood could achieve this with his “America Works” initiative).\r\n\r\nWe have moved to be within touching distance of the triple digit 100.00 level. As mentioned previously, “the algo” traders and systems will not require Viagra this weekend as they assess the potential opportunities that lay ahead.\r\n\r\nIt all sounds nicely bullish doesn’t it… it is nicely bullish. But this does not mean that as traders we have a Stevie Wonder moment.\r\n\r\nThink….\r\n\r\nMassive moves in all the USD majors… previous ranges blown apart…. Equities coming off tops as the realization has finally sunk in with equity traders that interest rates in the U.S. will be going up and personally, I would not rule out one 0.25% increase in June prior to the summer break.\r\n<ul>\r\n	<li>Commodity prices are dumping GOLD, OIL, COPPER, and IRON ORE.</li>\r\n	<li>China is consistently buying fewer commodities and lowering growth projections because they are manufacturing less; it is a fecking slowdown.</li>\r\n	<li>The BOJ is heavily rumoured to be stopping its QE program.</li>\r\n	<li>Central Bank divergences – it is a race to the bottom.</li>\r\n</ul>\r\nDEFLATION is an issue it’s not just in the EUROZONE where 17 out of the 19 single currency users have DEFLATION. It’s widespread throughout the world, and our “ROCK GOD’S” aka Central Bank Presidents or Governors do NOT know how to fight it.\r\n\r\nIt is all USD positive…\r\n\r\nYou need pullbacks to enter and they could be up to 200 pips away from current prices depending on what currency pair you are looking at.\r\n\r\nLets look at the closes this week compared to last week: -\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/USD-MAJOR-CLOSING-PRICE-COMPARED-08032015.png\"><img class=\"aligncenter size-full wp-image-5449\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/USD-MAJOR-CLOSING-PRICE-COMPARED-08032015.png\" alt=\"USD MAJOR CLOSING PRICE COMPARED 08032015\" width=\"388\" height=\"430\" /></a>\r\n\r\n&nbsp;\r\n\r\nAs you can see from the chart above a simple USD long of a single lot trade across all the USD majors would have generated 1,606 pips. Even with a lot of Central Bank speak sometimes against the FED, the USD won through.\r\n\r\nThese moves show who is King… if you take nothing else away from this blog take that alone.\r\n\r\nThese moves will continue. But they cannot, or, rather should not be just a relentless one-way move. There are always external factors away from the USD to consider.\r\n\r\nJust ignore targets in the EUR/USD, GBP/USD and the other pairs and focus on the DXY 100.00 level. You can virtually take it as read that the key levels / targets will co-ordinate as they approach.\r\n\r\nVolatility will be high as we approach key levels. Index and currency traders will know the levels that they have targeted but the bug banks will have huge barriers in place to try and move the markets the way they want it. As retail traders our jobs are to come in on the coat tails of these moves and look at the probabilities of the potential moves ahead.\r\n\r\nI am a USD bull and have been for many, many months (check the previous posts).\r\n\r\nTo be long the USD is in my opinion the only Forex trade right now that makes clear sense, and you could jump on board now but you may require deep pockets to hold onto loss making trades through what should be an inevitable consolidation period with potential for some deep pullbacks, as I said before the USD is overbought.\r\n\r\nMy job now for my subscribers is to suggest pullback entry levels to get long the USD with entry-level trades to enter the major pairs. This process will be outlined later in this blog.\r\n\r\nFor non-subscribers, be patient and do not go all in on the back of the media coverage of the strong USD, which will be hitting CNBC and BLOOMBERG with an even greater intensity next week.\r\n\r\nFridays NFP was a blow to equity market traders, who are having their period of easy money making being pulled from under them.\r\n\r\nThe USD has been a sleeper for 30+ years, more than a generation… No-one trading on Wall Street has seen anything like this before. Every DOW and nearly all the S&amp;P companies keep talking about currency headwinds being an issue. When they were being spoon-fed it was never a tailwind supporting them. This is no surprise, it has been coming for months, it just shows how poor a stock of CEO’s, and CFO’s are running businesses that they do not have the ability to forward plan. All I hear are excuses not solutions.\r\n\r\nWe are entering unchartered territory; we need to buy at the best prices we can to maximize the most of the potential moves ahead.\r\n\r\nPersonally, I will trade from a core position and add subsequent positions to take on-going day trade $$$ profits from. This is a motivational way to trade as your broker account gets $$$ and at the same time the core trade stops are being revised to protect $$$.\r\n\r\nThe last time that I was able to trade like this was believe it or not during parts of the financial crash all those years ago…fádo, fádo, (long long ago).\r\n\r\nAs always do not have “A rush of blood to the head” as Chris Martin would sing, set your entries MAKE A PLAN and TRADE YOUR PLAN.\r\n\r\n&nbsp;\r\n<ol start=\"3\">\r\n	<li><strong><span style=\"text-decoration: underline;\"> THE PREMIUM SERVICE:\r\n</span></strong></li>\r\n</ol>\r\n<strong><span style=\"text-decoration: underline;\">SUMMARY OF PERFORMANCE:</span></strong>\r\n\r\n<span style=\"text-decoration: underline;\">3.1 OVERVIEW:</span>\r\n\r\nFor new readers who may not be aware, I refer to the PREMIUM SERVICE quite a lot in this blog and for more details about what it is, and, how much it costs, you will need to go the welcome page of <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a> At the top of the page there are three drop down menus: PREMIUM SERVICE, PROMOTIONS (if available), SIGN-UP and DISCLAIMER. Further details and how to join are all contained there. You will need at PayPal account to subscribe.\r\n\r\n<span style=\"text-decoration: underline;\">3.2.1 PREMIUM SERVICE – SUBSCRIPTION COSTS:</span>\r\n\r\nFull details regarding the PREMIUM SERVICE can be found on my website <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a>\r\n<p style=\"text-align: center;\">On the welcome page there are a series of TABS at the top of the page that provide a summary of what the PREMIUM SERVICE is about and what you receive for your subscription.\r\n\r\n<strong>THE 2015 SUBSCRIPTION BREAKDOWN IS AS FOLLOWS: -</strong></p>\r\n<p style=\"text-align: center;\"><strong>10 weeks - $200.00</strong>\r\n<strong>20 weeks - $350.00</strong>\r\n<strong>40 weeks - $500.00</strong></p>\r\n<span style=\"text-decoration: underline;\">3.2.2. PREMIUM SERVICE – CHANGES IN SUBSCRIPTION VARIABLES (INCLUDING COMMUNICATION OPTIONS AND PRICING / COSTS):</span>\r\n\r\nIf you recall, towards the end of 2014, I blogged about possible, potential changes for the PREMIUM SERVICE in 2015. I had several website options, in particular, that I did not complete. The main reason that I have held off is related to deciding upon what to do regarding space issues.\r\n\r\nLooking into possible changes / improvements, believe it or not sparked the wider ranging review to explore the possible paths forward looking ahead 2/3 years.\r\n\r\nOne of the things I decided to do to help me in my decision process about how things should look moving forward was to look at competitors.\r\n\r\nSo over the past two / three weeks, I have had research carried out on lead based Forex service providers. This turned out to be just a starting point. The research became much wider embracing many aspects of what I currently do, what I had hoped to do in future and much, much more.\r\n\r\nMy GOD….\r\n\r\nThe volumes of information, the number of companies / individuals involved… the pricing… what you receive for your subscription etc. is so varied, so complex to categorize at times that it is proving to be an enormous exercise\r\n\r\nReviewing my options about how I move forward is not just about cost. This is also about my own personal work / life balance. I am presently living in Canada and living / trading European and North American sessions and being around for early Asian sessions as well…. that\'s about 18 hours a day!! I love it, I really love trading Forex and being close to my screens when news breaks or currency pairs move wildly but it’s plain crazy, and, with technology and other alternatives I want to streamline several “Front of the house and backroom” functions.\r\n\r\nThe process moving forward involves: -\r\n<ul>\r\n	<li>COMMUNICATION and REPORTING OPTIONS</li>\r\n	<li>WEBSITE OPTIONS and CAPABILITIES</li>\r\n	<li>PRICE and TIERED SUBSCRPITIONS</li>\r\n	<li>TRAINING and MENTORING</li>\r\n	<li>PARTNERSHIP PROGRAMS and INITIATIVES</li>\r\n</ul>\r\nThe list is wider and very interesting, if I was still in the corporate world, but I have been reducing the categories…I am me - NOT Goldman Sachs or Citi.\r\n\r\nPersonally, I do not want to over-complicate “ subscriptions” by having various levels of subscribers. I prefer the “all-in” approach, but changes will be happening across the board. But nothing is off limits.\r\n\r\nFor existing subscribers there will be a questionnaire released as soon as the research is completed to obtain your views.\r\n\r\nFrom a timing perspective, changes should start to appear I think possibly as early as April, after the first quarter has ended. Watch this space for updates.\r\n\r\n<span style=\"text-decoration: underline;\">3.3.1. TRADING REVIEW OF ACTIVITY and SUMMARY OF PERFORMANCE:</span>\r\n\r\nLast week I made the decision based upon the lack of inter-market and inter-currency correlations and what I saw as unreal market divergences to close off all bar one of the commodity cross rate pairs. The EUR/AUD, GBP/AUD, EUR/NZD, GBP/NZD and EUR/CAD were all closed. Whilst I had all of these trades hedged I still posted a 720 pips loss for those 5 trades. The GBP/CAD I retained as I felt that this pair offered the best bullish overall pattern.\r\n\r\nThe day after I closed the trades correlations and divergences returned back to almost normal in my opinion and of course the trades started to bottom out. After NFP they had all recovered quite a margin off their lows. Last week’s NFP was probably the easiest one to trade for some time; it really was directional and most of the time relentless.\r\n\r\nDo not panic if you did not fully participate in NFP (I didn’t either), I have a mixed performance on NFP and the Monday / Tuesday after and I have now made it a policy to trade extremely light around these days.\r\n\r\nHowever: -\r\n<ul>\r\n	<li>There will be pullbacks if you missed the big moves.</li>\r\n	<li>This is Forex levels are always tested.</li>\r\n	<li>It’s all about looking at charts trying to figure out what are the key levels.</li>\r\n	<li>There are always ‘High Probability” trades after NFP.</li>\r\n	<li>It’s all about patience. Forex is a long distance marathon not a 100-metre dash.</li>\r\n	<li>Measure your performance by the month, quarters if you take longer-term views.</li>\r\n</ul>\r\nTaking a step back…\r\n\r\nTrading this week was generally good; I re-cooped all of the 720-pip loss referred to above. I have posted 614 pips on closed trades, plus I have a good number of pips in trades that have been carried forward from last week into this week. Barring a crisis at the open later today, all things are positive looking forward into next week.\r\n\r\nMy comments from last week regarding my RADAR TRADE set-ups have not been followed through with yet. Only two RADAR TRADES were completed last week, both profitable. Unfortunately this is not a number from which to draw conclusions from.\r\n\r\nLast week there were 6 new trades that closed and all were profitable. Happy Days. However, when you add the 5 x FUNDAMENTAL commodity cross-rate trades, these were the only losing trades to close during last week the $$$$ return from the PREMIUM SERVICE trades year to date reduced by $1,060.00. I am delighted though, to have generated over 600 closed pips in the week to offset the 720 that were lost on the commodity cross rate trades.\r\n\r\nThe usual summary charts detailing the week and year to date performances, are below: -\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">3.3.2. – PREMIUM SERVICE PROFIT/LOSS RATIOS:\r\n\r\n</span>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/PROFIT-LOSS-RATIO-08032015.png\"><img class=\"aligncenter size-full wp-image-5418\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/PROFIT-LOSS-RATIO-08032015.png\" alt=\"PROFIT-LOSS RATIO 08032015\" width=\"403\" height=\"583\" /></a>\r\n\r\n<span style=\"text-decoration: underline;\">3.3.3. – PREMIUM SERVICE RISK/REWARD ANALYSIS:</span>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/RISK-REWARD-08032015.png\"><img class=\"aligncenter size-full wp-image-5419\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/RISK-REWARD-08032015.png\" alt=\"RISK-REWARD 08032015\" width=\"440\" height=\"549\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">3.3.4. – PREMIUM SERVICE OVERALL TRADE SUMMARY MONTH &amp; YTD:</span>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/PREM-SERV-PROFITS1-08032015.png\"><img class=\"aligncenter size-full wp-image-5420\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/PREM-SERV-PROFITS1-08032015.png\" alt=\"PREM SERV PROFITS1 08032015\" width=\"462\" height=\"430\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/PREM-SERV-PROFITS2-08032015.png\"><img class=\"aligncenter size-full wp-image-5421\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/PREM-SERV-PROFITS2-08032015.png\" alt=\"PREM SERV PROFITS2 08032015\" width=\"467\" height=\"421\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n<ol start=\"4\">\r\n	<li><strong><span style=\"text-decoration: underline;\"> PREMIUM SERVICE SUBSCRIBER EXCLUSIVE CONTENT:</span></strong></li>\r\n</ol>\r\n(Section 4 is exclusive PREMIUM SERVICE content only available to PREMIUM SERVICE subscribers)\r\n\r\n<span style=\"text-decoration: underline;\">4.1 EDUCATION:\r\n</span>(The full list of all items and more from this section can be found in the PREMIUM SERVICE website in the Trade Essential area under the EDUCATION tab.)\r\n\r\n<span style=\"text-decoration: underline;\">4.2 THE PREMIUM SERVICE - EXISTING LIVE TRADES:</span>\r\n\r\n<span style=\"text-decoration: underline;\">4.3 THE PREMIUM SERVICE – EXISTING LIMIT ORDERS:</span>\r\n\r\n<span style=\"text-decoration: underline;\">4.4 POTENTIAL TRADES - WHAT CHARTS AM I LOOKING AT?</span>\r\n\r\n<span style=\"text-decoration: underline;\">4.5 MAJOR TRADING PAIRS WITH LONGER-TERM TRENDS MATCHING:</span>\r\n\r\n<span style=\"text-decoration: underline;\">4.6 THE KEY SUPPORT &amp; RESISTANCE LEVELS WITH THE USD MAJORS</span><strong><span style=\"text-decoration: underline;\">:\r\n</span></strong>(This content is now for PREMIUM SERVICE subscribers only, it allows me to refer to existing and future set-ups that form part of the PREMIUM SERVICE subscription)\r\n\r\n&nbsp;\r\n<ol start=\"5\">\r\n	<li><strong><span style=\"text-decoration: underline;\"> THE WEEK AHEAD: -\r\nWHAT AM I THINKING &amp; WHAT AM I LOOKING AT?</span></strong></li>\r\n</ol>\r\n<span style=\"text-decoration: underline;\">5.1 MAJOR FOREX NEWS THIS WEEK THAT INTERESTS ME:</span>\r\n\r\nSUNDAY: N/A.\r\n\r\nMONDAY: AUD – NAB Business Confidence.\r\nMONDAY: CNY – CPi and Trade Balance.\r\n\r\nTUESDAY: N/A.\r\n\r\nWEDNESDAY: NZD – RBNZ Cash Rate, Policy Statement &amp; Press Conference.\r\nWEDNESDAY: AUD – Employment Data.\r\n\r\nTHURSDAY: USD – Core Retail Sales.\r\n\r\nFRIDAY: CAD – Employment Data.\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">5.2 FINAL THOUGHTS / CLOSING COMMENTS:</span>\r\n\r\nChinese CPI and Trade Balance, CAD and AUD Employment Data plus U.S. Core Retail sales are on the agenda for news items this week, but the pick of the events has to be the RBNZ interest rate announcement, statement and press conference.\r\n\r\nI recall writing a few weeks ago that I believed that a trending market would return soon. I still believe that it will but I really hope that we do not have to wait until the Fed raises interest rates before we see it. The USD strength story will no doubt dominate the likes of CNBC and Bloomberg TV and the fact that a big 100.00 number looms you can imagine that they will soon start to talk about it more.\r\n\r\nAs we edge closer to 100.00 on the DXY, I fear that we will reach yet another period of chop, chop, chop in the market as buyers and sellers battle it out for supremacy. This period of consolidation may be painful to trade and may last for a week or so looking back at previous sideways moves in the DXY.\r\n\r\nWe will have opportunities to make $$$, we just have to be alert and careful.\r\n\r\nAs always, there will be trades to trade and there will be some great opportunities, please trade in line with your RISK MANAGEMENT parameters from your TRADING PLAN. If you do not have a TRADE PLAN, in my opinion, you should, as this will help you with consistency.\r\n<p style=\"text-align: center;\"><strong>Consistency = longevity in trading and that is a critical goal.\r\nIT IS THE KEY MEASUREMENT</strong></p>\r\nBefore you enter a trade work out the risk, price it in $$$. Place your stop accordingly. PREMIUM SERVICE subscribers have a full library of information on RISK MANAGEMENT, RISK TOLERANCES and POSITION SIZING etc. available for reference 24x7.\r\n\r\nTake care.\r\n\r\nScott Pickering\r\nThe Pip Accumulator\r\nSunday March 8th 2015\r\n\r\nEMAIL / FOLLOW ME AT:\r\ndrivethru@weeklyfxdrivethru.com\r\nTwitter: @pipaccumulator\r\n<span style=\"line-height: 1.5;\">Google+/scottpickering\r\n</span>Tumblr: thepipaccumulator\r\n\r\n&nbsp;\r\n\r\n<strong><span style=\"text-decoration: underline;\">DISCLAIMER &amp; OTHER DATA:</span></strong>\r\n\r\n<span style=\"text-decoration: underline;\">SUBSCRIBING TO THE “FREE VERSION” OF THE WEEKLY FX DRIVE THRU:</span>\r\n\r\nIf you like what you have almost completed reading and want to have THE WEEKLY FX DRIVE THRU delivered direct to your email inbox next week, here is what you do: -\r\n\r\nGo to my website: - <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a>\r\n\r\nOn the right hand side of the welcome page under my bio “about me” there is a blue box titled SUBSCRIBE TO FREE NEWSLETTER, click on profile and add your email address. It is as simple and straightforward as that.\r\n\r\nI do NOT sell your email data to anyone…do not worry...one less thing to worry about!\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">THIRD PARTY COMPANIES WITH BANNERS ON MY WEBSITE:</span>\r\n\r\nThere are a small number of companies with banners on my website. In the interests of full disclosure I have a reciprocal business arrangement with these companies to promote their products.\r\n\r\nUnlike many of my competitors, I use the products and services provided by these companies. I will NOT allow any third party on my website unless I am 100% happy that they can back up their promise.\r\n\r\nBy virtue of the fact, I work with these companies almost daily. I am more than confident to have them advertise on my website.\r\n\r\nAny reader who buys products or services from any advertiser via a banner on my website, <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a> will automatically have my help and assistance with any issues that they may have with my partnered advertisers.\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">TRADING &amp; PERFORMANCES DISCLAIMER:</span>\r\n\r\nFLASH, RADAR and FUNDAMENTAL trade set-ups, “Tweets” and “Trade ideas” that are posted in my blogs or on Twitter are trades and set-ups that interest me. They are provided for training and informational purposes only and should not be interpreted as an offer, solicitation or recommendation of any specific security or investment strategy. Past performance is not indicative of future results. Trading Forex carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to trade any such leveraged products you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with trading on margin, and seek advice from an independent financial adviser if you have any doubts.','DON\'T GET SUCKERED INTO USD LONG TRADES NOW','','inherit','open','closed','','5462-revision-v1','','','2015-03-08 05:31:13','2015-03-08 10:31:13','',5462,'https://weeklyfxdrivethru.com/5462-revision-v1/',0,'revision','',0),