<strong><span style="font-size: 14pt;">THE DAILY FX POST</span>
<span style="font-size: 14pt;"> from</span>
<span style="font-size: 14pt;"> THE PREMIUM SERVICE</span></strong>

&nbsp;

<strong>DATE: Wednesday 26th November 2014
REF: #133</strong>

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<ol>
	<li><span style="font-size: 12pt;"><strong> OVERVIEW – INITIAL THOUGHTS:</strong></span></li>
</ol>
We are in a thin volume range bound market; I wish that I wasn't.

Currencies are “squeezy” and the USD index (DXY) has been bouncing around from highs to lows between the open of the European session and now. It’s not far off support at 87.60 at from where I am expecting a bounce to catch people out who have loaded up with USD selling trades, the high overnight was 88.00.

In my opinion, fundamentally nothing has changed. There will be a lot of U.S. traders not at their desks today so any Forex moves will be to some extent unchecked. Expect volatility for no reason as large orders are placed into the markets.

For the open LIVE TRADES I tweeted a about an hour or so ago new levels to keep the positions alive. My positions are between 10-20% of my full position size, so my risks are very low.

These trades are open with my U.S. broker, which allows me to cost average the positions. This was deliberate, as when I decided to open these trades last Friday on the belief that USD strength would continue into this week. That did NOT happen the way I thought that it would.

Do not expect much today, ranges will be tested and please be careful of false breakouts or false breakdowns.

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<ol start="2">
	<li><span style="font-size: 12pt;"><strong> KEY NEWS EVENTS NEXT 24 hours (BASED UPON (NYC) EDT TIME:</strong></span></li>
</ol>
USD: - Durable Goods, Unemployment Claims &amp; New Home Sales.

NZD: - Trade balance.
AUD: - Private Capital Expenditure.

EUR: - German CPi

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<ol start="3">
	<li><span style="font-size: 12pt;"><strong> EXISTING LIVE TRADES:</strong></span></li>
</ol>
<strong>RADAR TRADES:</strong>

There are no LIVE RADAR TRADES at this time.

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<strong>FLASH TRADES:</strong>

FT230
EUR/CHF
Long at 1.2040
Stop at 1.1920
Limit at 1.2500
Price now 1.2024
Current Profit / Loss Position -16 pips

FT245
EUR/USD
Short at 1.2381
Stop at 1.2550
Limit at 1.1860
Price now 1.2474
Current Profit / Loss Position -93 pips

FT246
USD/CHF
Long at 0.9703
Stop at 0.9580
Limit at 0.9950
Price now 0.9638
Current Profit / Loss Position -65 pips

FT247
GBP/USD
Short at 1.5649
Stop at 1.5820 (Ultimate risk is around 1.5880)
Limit at 1.5450
Price now 1. 5766
Current Profit / Loss Position -117 pips

<strong>FUNDAMENTAL TRADES:</strong>

There are no LIVE FUNDAMENTAL trades at this time

<strong> </strong>
<ol start="4">
	<li><span style="font-size: 12pt;"><strong> LIMIT &amp; STOP ORDERS WITH BROKERS:</strong></span></li>
</ol>
RT220
GBP/USD
Short at 1.5800
Stop at 1.5860
Limit at 1.5450

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Good luck today. Try not to get caught on what looks like a move that turns out to be a false break. The only way to protect yourself in this instance is to trade smaller positions with wider stop losses in line with your RISK MANAGEMENT tolerances. TRADING DISCIPLE will be paramount this week.

&nbsp;

Scott Pickering
The Pip Accumulator
<a href="http://www.weeklyfxdrivethru.com">www.weeklyfxdrivethru.com</a>
Twitter: @ThePremService
Email: premiumservice@weeklyfxdrivethru.com

<strong>DISCLAIMER:</strong>

FLASH, 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.