(6736,1,'2015-10-31 10:57:45','2015-10-31 15:57:45','<p style=\"text-align: center;\"><strong>THE PREMIUM SERVICE</strong>\r\n<strong>from the</strong>\r\n<strong>WEEKLY FX DRIVE THRU</strong>\r\n<strong>“The Home of Single Lot Trading”</strong></p>\r\n<strong> </strong>\r\n<ol>\r\n	<li><strong> THE VIEW FROM MY TRADE DESK:</strong></li>\r\n</ol>\r\nLOOKING BACKWARDS, FORWARDS &amp; SIDEWAYS (FOR GOOD MEASURE) AT THE FX MARKET:<u> </u>\r\n\r\n1.1: LOOKING BACKWARDS:\r\n\r\nLike many other traders I viewed last week as a pivotal week to give us as Forex Traders guidance into the end of the year and the first quarter of 2016. Having had time to reflect on statements from the FED, RBNZ and BOJ, I have to admit I am both clear and then unclear…… fecking great!\r\n\r\nI made a few trades and banked $$$, but I am also caught in a few trades under water but believe them to be in the right direction moving forward…who doesn’t!\r\n\r\nMaybe I want, or, maybe I expect too much from central bank governors / presidents. I thought, obviously incorrectly, that part of their role and responsibility is to maintain stability with the currencies that they represent and give direction to ensure that market uncertainty is kept to a minimum. I am struggling to see how any central bank governor / president is managing this aspect with any real commanding degree of effectiveness.\r\n\r\nMy main article this week is aimed primarily at the FED and its behavior over recent times so I will hold those comments until later.\r\n\r\nLooking at the RBNZ: Yer man, the governor of the RBNZ Graeme Wheeler, confuses the crap out of me. One-minute Kiwi valuations are too strong and he talks down the currency and in the next breath he says nothing, after a rally out of nowhere.\r\n\r\nBasically he took his foot off the gas to press the pair lower and it bounced from 0.6300 back to almost 0.6800. I wish I knew more about the Kiwi money supply but I would guess that it must be out of sync with the size of the country.\r\n\r\nWhat I mean is New Zealand is a small country and it is primarily a milk exporter. Looking at international bank currency data, the NZD was ranked 10<sup>th</sup> in the world a year or so ago with an average daily turnover $105 billion, which at the time was just under 56% of GDP.\r\n\r\nTo give some scale the percentage of GDP to over the counter trading volumes with other majors are: - CHF 32%, AUD 27% and USD 13%. With the NZD at 56%, it brings to mind the phrase “you are punching well above your weight”.\r\n\r\nHaving this as a backdrop, and, the RBNZ is well aware of these numbers and you can bet more up to date data as well, you would think the RBNZ governor would be stronger and act accordingly. This is why I consistently have a go at Wheeler. In my opinion he does not offer great guidance and creates uncertainty. This is one reason why the NZD flies all over the place.\r\n\r\nIf you were an institution trying to take advantage of the interest rate differential it must be pure hell with the Kiwi. In my eyes, you would be better off using the Las Vegas option!\r\n\r\nThe upshot is; at the next meeting I think he will jawbone. Right now I bet there are some very twitchy bottoms with the NZD/USD approaching 0.6800. I think some of this recent upward move is on the back of China news that allows families to have a second child subject to approval from the state (I cannot believe it’s 2015 and I have just written that sentence).\r\n\r\nThe BOJ kept easing on hold, but gave themselves 6 months extra to achieve their self imposed 2% inflation target and at the same time of announcing this they also said they would have an additional budget announcement. From my perspective, the door to more Quantitative Easing (QE) has been left slightly ajar.\r\n\r\nBeing a USD bull on the back of central bank policy divergence policy, you can imagine the poor USD data at the end of the week has me in great form for this weekend. I am of course being 110% sarcastic. The poor USD killed my open trades, I now reckon I will require either one unbelievable day of USD strength or alternatively a bit of momentum trading over a few days to bring all of my broker accounts in line.\r\n\r\nJoking apart; with USD data so poor (GDP, PCE etc.) and with a FED stating that increases in rates are “Data Dependent”, next weeks job data releases need to be blowout numbers for a December rate hike… or do they? I have a contrarian view on this later in the blog.\r\n\r\n&nbsp;\r\n\r\n1.2: LOOKING FORWARD:\r\n\r\nMAJOR FOREX NEWS THIS WEEK THAT INTERESTS ME:\r\n(There are many more news items related to the Forex Market other than the ones listed below. These are the ones that interest me. You can go to <a href=\"http://www.forexfactory.com\">www.forexfactory.com</a> and <a href=\"http://www.tradingeconomics.com\">www.tradingeconomics.com</a> for a more comprehensive lists of all news events that are Forex related).\r\nSUNDAY: AUD – Building Approvals.\r\nSUNDAY: CNY – Manufacturing PMi.\r\n\r\nMONDAY: GBP – Manufacturing PMi.\r\nMONDAY: USD – ISM Manufacturing PMi.\r\nMONDAY: AUD – RBA Rate Statement and Cash Rate.\r\n\r\nTUESDAY: GBP – Construction PMi.\r\nTUESDAY: NZD – Dairy Prices.\r\nTUESDAY: EUR – Words of wisdom from Mario Draghi (ECB).\r\nTUESDAY: NZD – Employment Data.\r\nTUESDAY: AUD – Retail Sales.\r\nTUESDAY: AUD – Trade Balance.\r\n\r\nWEDNESDAY: EUR – Words of wisdom from Mario Draghi (ECB).\r\nWEDNESDAY: GBP – Services PMi.\r\nWEDNESDAY: USD – ADP Non Farm Payrolls.\r\nWEDNESDAY: USD – Trade Balance.\r\nWEDNESDAY: CAD – Trade Balance.\r\nWEDNESDAY: USD – Janet Yellen Testifies (FED).\r\nWEDNESDAY: USD – ISM Non-Manufacturing PMi.\r\nWEDNESDAY: AUD – Words of wisdom from Glenn Stevens (RBA).\r\n\r\nTHURSDAY: EUR – Words of wisdom from Mario Draghi (ECB).\r\nTHURSDAY: GBP – BOE Inflation report.\r\nTHURSDAY: GBP – BOE Official Bank Rate.\r\nTHURSDAY: GBP – Words of wisdom from Mark Carney (BOE).\r\nTHURSDAY: AUD – RBA Monetary Policy Statement.\r\n\r\nFRIDAY: CAD – Employment Change and Unemployment Rate.\r\nFRIDAY: USD – Non-Farm Employment Data.\r\n\r\n&nbsp;\r\n\r\nMY THOUGHTS ON THE NEWS ITEMS THIS COMING WEEK:\r\n\r\nThe first thing that comes to mind looking at my list above is “yikes no sleep”.\r\n\r\nThis week is about prioritizing time. It is a heavy week on key data and I am not saying that you need to be around for it all, but everything seems to inter-connect more than ever.\r\n\r\nMy key trades at the moment involve the following pairs: - EUR/USD, USD/CHF, NZD/USD, EUR/GBP, EUR/CHF and EUR/NZD.\r\n\r\nBasically, I am screwed!\r\n\r\nU.S., European, China and Antipodean data is all-relevant to my open trades. It looks like I am not going to get much sleep at all.\r\n\r\nThe standouts are obviously, the BOE Inflation report and U.S. Non-Farm Payrolls at the end of the week. The Central bank speeches sometimes flatter to deceive but they are important to follow as well in my opinion.\r\n\r\nLooking at it all, to be honest it is another pivotal week for data.\r\n\r\nFor me, my longer-term trading strategy will be provided with more macro and micro economic data this week to place in my melting pot of trade ideas.\r\n\r\nThere will be a lot of information this coming week for us to store and take into consideration to help formulate plans and strategies moving forward. It will be a tiring week - of that there is no doubt.\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\nMY KEY SUPPORT &amp; RESISTANCE LEVELS THIS WEEK FOR USD MAJORS<strong>:\r\n</strong>In this section I have as usual kept my charts as minimalist as possible. All readers regardless of level of experience should be able to follow my thoughts from my comments to the levels on the charts with ease.\r\n\r\nAll of my thoughts, ideas and relevant comments are contained on the charts.\r\n\r\n&nbsp;\r\n\r\nEUR/USD - Weekly Closing Price: 1.1005\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/10/EURUSD-W-31102015.png\"><img class=\"aligncenter size-large wp-image-6709\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/10/EURUSD-W-31102015-1024x514.png\" alt=\"EURUSD W 31102015\" width=\"1024\" height=\"514\" /></a>\r\n\r\n&nbsp;\r\n\r\nGBP/USD - Weekly Closing Price: 1.5429\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/10/GBPUSD-D-31102015.png\"><img class=\"aligncenter size-large wp-image-6708\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/10/GBPUSD-D-31102015-1024x514.png\" alt=\"GBPUSD D 31102015\" width=\"1024\" height=\"514\" /></a>\r\n\r\n&nbsp;\r\n\r\nAUD/USD - Weekly Closing Price: 0.7137\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/10/AUDUSD-D-31102015.png\"><img class=\"aligncenter size-large wp-image-6710\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/10/AUDUSD-D-31102015-1024x514.png\" alt=\"AUDUSD D 31102015\" width=\"1024\" height=\"514\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\nNZD/USD - Weekly Closing Price: 0.6775\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/10/NZDUSD-D-31102015.png\"><img class=\"aligncenter size-large wp-image-6707\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/10/NZDUSD-D-31102015-1024x514.png\" alt=\"NZDUSD D 31102015\" width=\"1024\" height=\"514\" /></a>\r\n\r\n&nbsp;\r\n\r\nUSD/CAD - Weekly Closing Price: 1.3071\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/10/USDCAD-D-31102015.png\"><img class=\"aligncenter size-large wp-image-6706\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/10/USDCAD-D-31102015-1024x514.png\" alt=\"USDCAD D 31102015\" width=\"1024\" height=\"514\" /></a>\r\n\r\n&nbsp;\r\n\r\nUSD/CHF - Weekly Closing Price: 0.9881\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/10/USDCHF-D-31102015.png\"><img class=\"aligncenter size-large wp-image-6705\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/10/USDCHF-D-31102015-1024x514.png\" alt=\"USDCHF D 31102015\" width=\"1024\" height=\"514\" /></a>\r\n\r\n&nbsp;\r\n\r\nUSD/JPY - Weekly Closing Price: 120.62\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/10/USDJPY-D-31102015.png\"><img class=\"aligncenter size-large wp-image-6704\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/10/USDJPY-D-31102015-1024x514.png\" alt=\"USDJPY D 31102015\" width=\"1024\" height=\"514\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n1.3: LOOKING SIDEWAYS (FOR GOOD MEASURE):\r\n\r\nI have a trading pitfall at the moment.\r\n\r\nI am not perfect (my wife will also verify this point).\r\n\r\nIf you were trading last Friday as the London equity markets were closing at noon (EST), you would have been aware of what can only be described as the most violent closing fix / flows I think that we have seen for months, definitely the wildest ride this year without a shadow of a doubt. The fact that last Friday was the last day of the month just exacerbated the end of month flows.\r\n\r\nWhat has this highlighted?\r\n\r\nIt makes me look at my stop placement more and more.\r\n\r\nI am guilty of not placing my stops in line with my RISK TOLERANCE levels within my TRADE PLAN. I am not sure but it must be something psychological within me that like’s to have a tolerance level behind the initial level of the stop that is placed when the trade is entered into.\r\n\r\nPsychological or not, it creates additional stress and this manifested itself around the London fix last Friday.\r\n\r\nI wanted to take advantage of the “Fix” extremes by adding additional trades but I had to initially deal with my USD/CHF long trades, which were moving closer to my stop loss levels and required attention. This cost me about 20 pips on the EUR/USD and USD/CHF new trades that I wanted to enter as I spent time adjusting the stops on the existing open trades.\r\n\r\nI know reading this it looks stupid. Why not just set your stop at the right level from the moment the trade is active? I know… the psychology of trading is something that we all deal with in different ways. Being a Forex Trader there is so much to consider and be aware of to make your daily routine easier.\r\n\r\nThis may seem a little crazy to write about, but from a psychological viewpoint identifying this as a trading issue and writing about it will hopefully help.\r\n\r\nThe fact that I was “pratting” around moving stops and tweeting this to my subscribers when I could have started new trades at better prices hit a nerve!\r\n\r\n&nbsp;\r\n\r\n<strong> </strong>\r\n<ol start=\"2\">\r\n	<li><strong> WHAT’S ON MY MIND:</strong><strong> </strong></li>\r\n</ol>\r\n<p style=\"text-align: center;\"><strong>FOR THE FED - IT’S ALL ABOUT CREDIBILITY NOW….</strong></p>\r\nThe FED under Janet Yellen is so cautious, how does this woman as a pedestrian ever cross a street?\r\n\r\nThere are risks to everything in life. However, I keep returning to the one fact that continues to haunt me over and over again. After 7 years of zero interest rates; if the biggest economy in the world cannot even raise rates by 0.10% WTF! For months, the FOMC has dithered. If the U.S. economy is that damn fragile, the FOMC should be held accountable for mismanagement and fired after 7 years of basically having a free-reign.\r\n\r\nHow long ago did tapering end?\r\n\r\nIf you cannot remember it was just over a year ago in October 2014. Ben Bernanke announced then that normalization in monetary FED policy would return sooner rather than later.\r\n\r\nWell… here we are 12 months later “Helicopter Ben” has been replaced by “Dithering Janet”.\r\n\r\nFour words stood out from the FED statement last Wednesday for most analysts, which were - “At the next meeting”.\r\n\r\nPersonally, I think it’s going to take a recession to stop a rate hike in December.\r\n\r\nI know that many of you think that I love placing my balls on the chopping block time after time with some of my views, but in this particular instance, my balls are on the chopping block because I really think it’s all about FED credibility.\r\n\r\nIf you are a regular reader you will know that I think that just prior to the summer the FOMC should have lifted off, then in September I thought it better late than never. I was astonished that they did not raise rates last month. I said and stick with it…. it was dithering.\r\n\r\nNow the FOMC is at the last station on the line before the terminus.\r\n\r\nThe FOMC said that they would raise rates in 2015, they keep talking about data dependency, but they have moved goal posts this year regarding data dependency. They threw in a red herring about the world economic position in the September policy statement and ensuing Press Conference, to justify no rate increase in September.\r\n\r\nThen last week the world economic slowdown and other world economics are all of a sudden not that important anymore. This equates to classic dithering in my opinion.\r\n\r\nIf the FOMC does not raise rates this year they will lose credibility as far as the markets are concerned. Everything they say from now on will be taken with a pinch of salt. They will NOT be believed.\r\n\r\nIn my opinion, it is going to take a massive world event, or the worst ever set of job numbers in the history of the U.S. to prevent a rate increase in December.\r\n\r\nAll the consumer data should show increases after Thanksgiving. The seasonality effect of most sales numbers, which will be paired back because of a slowdown in the run up to the final quarter, will come in, in line or slightly better. There will be a massive amount of part-time hires from now through the holiday season if the FOMC cannot muster a 0.25% rate increase she will at least have to sanction 0.10% with a note of more to come in 2016.\r\n\r\nWe are talking about the biggest economy in the world. It is now over 12 months since we were advised that FED monetary policy was changing and normalization was returning.\r\n\r\nI ask you…\r\n\r\nHow many times do we have to hear the word “Transitory?”\r\n\r\nWe have had 12 months of transitory. The issues that cause concern each meeting cannot remain transitory for a year; by now they must be permanent one must have thought.\r\n\r\nI know I am somewhat alone with these thoughts, as most views are looking further down the line, to possibly the first quarter in 2016 before a rate increase would take place. Time will tell if my thoughts resonate with the FOMC and whether or not credibility with the markets is important to them.\r\n\r\nI really do believe that Janet Yellen regrets not raising rates in September. This uncertainty and market volatility that we see is pure and simply self-inflicted upon us by the FED.\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n<ol start=\"3\">\r\n	<li><strong> THE PREMIUM SERVICE:\r\n</strong></li>\r\n</ol>\r\n3.1: SUMMARY OF YEAR TO DATE PERFORMANCE - 2015:\r\n\r\nPREMIUM SERVICE – COST INCOME ANALYSIS (USD):\r\n\r\nPROFITS FROM TRADE SET-UPS – to October 31st 2015.\r\n(The profit levels below are based on single lot trades only)\r\n\r\nMICRO LOT TRADER - 576 trades cost to trade = $57.60\r\n<strong>PROFIT</strong> from 576 trades = <strong>$985.80</strong>\r\n\r\nMINI LOT TRADER - 576 trades cost to trade = $576.00\r\n<strong>PROFIT</strong> from 576 trades = <strong>$9,858.00</strong>\r\n\r\nSTANDARD LOT TRADER - 576 trades cost to trade = $5,760.00\r\n<strong>PROFIT</strong> from 576 trades = <strong>$98,580.00</strong>\r\n\r\n&nbsp;\r\n\r\n3.2: PREMIUM SERVICE – TRADE SUMMARIES THIS MONTH:\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/10/RADAR1-31102105.png\"><img class=\"aligncenter size-full wp-image-6695\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/10/RADAR1-31102105.png\" alt=\"RADAR1 31102105\" width=\"507\" height=\"542\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/10/RADAR2-31102015.png\"><img class=\"aligncenter size-full wp-image-6696\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/10/RADAR2-31102015.png\" alt=\"RADAR2 31102015\" width=\"487\" height=\"551\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/10/RADAR-YTD-31102015.png\"><img class=\"aligncenter size-full wp-image-6711\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/10/RADAR-YTD-31102015.png\" alt=\"RADAR YTD 31102015\" width=\"426\" height=\"445\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/10/FLASH1-31102015.png\"><img class=\"aligncenter size-full wp-image-6697\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/10/FLASH1-31102015.png\" alt=\"FLASH1 31102015\" width=\"474\" height=\"543\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/10/FLASH2-31102015.png\"><img class=\"aligncenter size-full wp-image-6698\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/10/FLASH2-31102015.png\" alt=\"FLASH2 31102015\" width=\"498\" height=\"542\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/10/FLASH-YTD-31102015.png\"><img class=\"aligncenter size-full wp-image-6712\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/10/FLASH-YTD-31102015.png\" alt=\"FLASH YTD 31102015\" width=\"420\" height=\"449\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/10/FUNDAMENTAL-31102015.png\"><img class=\"aligncenter size-full wp-image-6699\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/10/FUNDAMENTAL-31102015.png\" alt=\"FUNDAMENTAL 31102015\" width=\"513\" height=\"549\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/10/FUN-YTD-31102105.png\"><img class=\"aligncenter size-full wp-image-6713\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/10/FUN-YTD-31102105.png\" alt=\"FUN YTD 31102105\" width=\"415\" height=\"442\" /></a>\r\n\r\n&nbsp;\r\n\r\n3.3: PREMIUM SERVICE – 2015 PERFORMANCE TO DATE:\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/10/PS-PROFITS1-31102105.png\"><img class=\"aligncenter size-full wp-image-6693\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/10/PS-PROFITS1-31102105.png\" alt=\"PS PROFITS1 31102105\" width=\"527\" height=\"420\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/10/PREM-SERV-PROFITS2-31102105.png\"><img class=\"aligncenter size-full wp-image-6721\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/10/PREM-SERV-PROFITS2-31102105.png\" alt=\"PREM SERV PROFITS2 31102105\" width=\"520\" height=\"425\" /></a>\r\n\r\nNOTES:\r\n<ul>\r\n	<li>If the above return from Forex Trading interests you go to my website landing page at <a href=\"http://www.weeklyfxdrivethru.com\">weeklyfxdrivethru.com</a> and check out the subscription options and special promotions under the tabs “PREMIUM SERVICE” and “PROMOTIONS”</li>\r\n	<li>If you want more data about the performance and my website does not answer your questions, contact me direct and I will supply the data you require.</li>\r\n	<li>THE PREMIUM SERVICE has subscribers with broker accounts of sizes ranging from $2,500 to over $100,000. A profitable trade is a profitable trade. It is all about trading according to the size of your broker account (EFFECTIVE POSITION SIZING) and applying RISK MANAGEMENT principles at all times.</li>\r\n</ul>\r\n<strong> </strong>\r\n\r\n&nbsp;\r\n<ol start=\"4\">\r\n	<li><strong> PREMIUM SERVICE (GOLD) SUBSCRIBER CONTENT:\r\n</strong>(The following section is additional data, thoughts, and ideas exclusively for PREMIUM SERVICE (GOLD) subscribers)</li>\r\n</ol>\r\n4.1: THE PREMIUM SERVICE – TRADING REVIEW:\r\n(A look back at the past week’s highs and lows from trades undertaken):\r\n\r\nIt was I suppose a good week last week from a trading perspective. Sure, there were things I may have done a little differently and trades I may not have entered at the time I did, but hindsight is just fantastic.\r\n\r\nWe ended last week carrying forward 7 open trades all with negative balances. After the squeeze from hell on Friday last week, I thought that the balances being carried forward would have been a lot worse than they were at the close. I feel very comfortable with all trades moving forward except two trades. The NZD/USD and EUR/NZD really moved against me and never pulled back like the other trades. My longer-term view is that these trades are in the right direction, but they just need time to develop. Patience will be required with these two trades moving forward and with China data being the first out of the blocks this coming week lets hope the data misses the objective that the market is looking for. Somehow I expect an “in line” or “slight beat”!\r\n\r\nIn general terms following the ECB press conference and the FED statement, apart from Fridays squeeze we have witnesses consolidation and what can only be termed a bit of a back fill on a few pairs following some quite over-cooked, over-done moves. This can happen, it doesn\'t always but when it does a re-test of a breakdown level can confirm the move, From my perspective this is a good thing as it means that the controlling traders whether they be bears or bulls are confirmed as being in the driving seat.\r\n\r\nMoving forward into this week, I have a few charts that are worthy of a re-visit. Whether or not these pairs are traded this week is debatable given the amount of news on the horizon.\r\n\r\nCompared to 2014 the month yielded just over 300 pips less than the corresponding month last year. The success/failure rate on trades in October was a remarkable 92% profitable trades to 8% losing trades. To say that I am happy with that statistic is an understatement.\r\n\r\nMy initial objectives of $1,000.00 profit from a single lot for micro lot trades, $10,000.00 for single lot mini lot trades and $100,000.00 for single lot standard lot trades looks to be an achievable goal for this year. I am, not so certain that I will pass last years totals but it should be close. This year has been a much harder trading environment to work within.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/10/PS-PROFIT-LOSS-31102105.png\"><img class=\"aligncenter size-full wp-image-6703\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/10/PS-PROFIT-LOSS-31102105.png\" alt=\"PS PROFIT-LOSS 31102105\" width=\"405\" height=\"568\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/10/PS-RISK-REWARD-31102015.png\"><img class=\"aligncenter size-full wp-image-6700\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/10/PS-RISK-REWARD-31102015.png\" alt=\"PS RISK REWARD 31102015\" width=\"414\" height=\"520\" /></a>\r\n\r\n&nbsp;\r\n\r\n4.2: REVISIONS TO TRADE STYLE DEFINITIONS:\r\n\r\nAs I am now adding what I hope to be longer-term trades based upon “Divergent Central bank Policy” to the PREMIUM SERVICE, I think it is time to re-address the trade styles.\r\n\r\nA couple of you wanted to add a 4<sup>th</sup> trade style to cover these new trades. Instead of doing this I think its easier just to simplify what is there at the moment as follows: -\r\n\r\n<span style=\"text-decoration: underline;\">FLASH TRADES:</span>\r\nOpportunist trades in LIVE market conditions. These trades are either based off a pullback strategy, a GIMME10 strategy, or off momentum in a trading pair at the time of entry.The goal is either take 10-30 pips or see a sufficient move to place a protective stop in place to see if a swing trade develops. Some FLASH TRADES may form part of an overall trading plan with a given currency pair, but the entry could not be made via a LIMIT ORDER.\r\n\r\n<span style=\"text-decoration: underline;\">RADAR TRADES:</span>\r\nThese a pre-meditated entry trades set from either Fibonacci levels, pivot points or previous support and resistance based off a combination of horizontal or trend line support or resistance.\r\nThe goal is always if possible to swing trade these trades by establishing a position that if market conditions apply allow the trade to gather traction and develop into a longer-term position trade.\r\n\r\n<span style=\"text-decoration: underline;\">FUNDAMENTAL TRADES:</span>\r\nThese will be trades based off my TRADING PLAN goals for trades in line with my longer-term market views.\r\nTrades in this area will use in addition Fibonacci levels, Pivot points, trend lines and prior support and resistance levels, weekly and monthly ATR’s (Average True Ranges) when setting Stop Loss levels. These trades are hopefully of a longer-term nature. They will be initially “single-lot” sized trades due to the wider stop placements that will be applied.\r\n\r\n&nbsp;\r\n\r\n4.3: TRADES BASED ON DIVERGENT CENTRAL BANK POLICY:\r\n\r\nFinally, this week in this section, I mentioned on twitter towards the end of last week that I was going to place in this blog my FUNDAMENTAL TRADES related to my TRADING PLAN based on central bank divergence through to the end of this year and certainly the first half year of 2016 based on the information to hand.\r\n\r\nThe trades are listed in the LIMIT ORDER spreadsheet that is in this section under reference 4.4. In this section there are also copies of the charts relating to the trades. I will post these set ups and the charts once again as soon as I have copied these trade set-ups into my various broker accounts.\r\n\r\n<strong>NOTE: These trades are NOT yet lodged with my broker when they are you will be advised by email and twitter.</strong>\r\n\r\nPlease bear in mind these are from my perspective single lot trades that had positions added to them as they hopefully gain traction. I will report on these separate to other trades that may involve the same currency pair. These trades are intended for the very long term. If this is something that suits your style of trading everything should be good. However, if you are not a longer-term trader this may not be your cup of tea.\r\n\r\nA few subscribers have expressed the idea that these trades be listed under a new trade style to keep them separate. I hope that I have addressed this point fully already. Keeping these trades separate from the rest for reporting on and measuring performance is something that I will be doing. I will place them with a separate broker account specifically for this purpose. All trades are initially single lot trades. You can trade whatever trade size you like but just be aware of the stop loss distances could vary from 50 to 750 pips or so you need to be aware of this fact when sizing your trades and assessing the risks involved.\r\n\r\nIn the years 2013 and 2014, I maintained a broker account specifically for trading with a single lot trade size mirror imaging the PREMIUM SERVICE trades. It was a great discipline and great to follow.\r\n\r\nThis year due to regulatory requirements in Quebec, I have lost a couple of my broker accounts around the summertime because they would not provide a platform with a French option and therefore they had to withdraw from the Quebec marketplace. As a result of this, I had to re-assign my trades into new platforms trades were cut short etc.\r\n\r\nIf you want to keep these trades separate from other trades open up a fresh broker account. If you use BLACKWELL GLOBAL from my banner on my website they will give you a TRADING / MARKETING bonus.\r\n\r\nI have been asked to briefly overview the size of trading accounts required based on the types of lots traded, to give my thoughts to trade just these trades in isolation away from our trades.\r\n\r\nThis is not an exact science but I have used the initial 6 trades as a benchmark. There are no guarantees that these trades will actually trigger to live accounts but I had to start somewhere, as I am sure you will appreciate.\r\n\r\nThe following is based on the worse case scenario of all trades failing to make a profit plus only 50% of the potential profits being achieved and only based off single lot trading.\r\n\r\nBased on averages off the initial 6 trade set ups selected:\r\n(Obviously addition trades = additional RISK = additional margin requirements to be added / factored into the numbers)\r\n\r\n&nbsp;\r\n\r\nTotal Stop Loss RISK:                                            1,915\r\n\r\nPersonally I always double the account\r\nbalance versus the risk to have a more\r\nthan acceptable margin in emergencies,\r\ntherefore:                                                                   4,000\r\n\r\nMinimum Micro lot trades sized account:           $400.00 (Minimum sized account with BLACKWELL GLOBAL $500.00)\r\nMinimum Mini lot traded sized account:              $4,000.00\r\nMinimum Standard lot traded sized account:    $40,000.00\r\n\r\nBalanced with the Potential gains:\r\nAverage trade potential by pips:                           8,065\r\n\r\nAssumptions\r\nTrades only run for 50% of the\r\ninitial projected length and no\r\nadditional trades are added\r\nProjected pip gain now:                                         4,000\r\n\r\nPotential Profits could be off a 50% profit\r\nobjective achieved:\r\n\r\nMicro lot trades sized account:\r\n(4,000 x $0.10)                                                         $400.00\r\n\r\nMini lot traded sized account:\r\n(4,000 x $1.00)                                                         $4,000.00\r\n\r\nStandard lot traded sized account:\r\n(4,000 x $10.00)                                                       $40,000.00\r\n\r\n&nbsp;\r\n\r\nBased on a 50% profit target achieved as an average this has the potential to return from 2:1 to as high as a 4:1 risk reward ratio if all trades run their projected distance, and there is potential for more.\r\n\r\nRemember, the above is based off a single lot being traded for each suggested set-up. There is no allowance for multiple lots as this is down entirely to your own RISK PARAMETERS and RISK TOLERANCES based upon the size of your broker account.\r\n\r\nI hope that the above section is straightforward to understand and that it answers more questions than it creates. If you have queries about this let me know.\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n4.2: MAJOR TRADING PAIRS WITH LONGER-TERM MATCHING TRENDS:\r\n(The 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&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/10/PS-TRENDING-PAIRS-31102105.png\"><img class=\"aligncenter size-full wp-image-6701\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/10/PS-TRENDING-PAIRS-31102105.png\" alt=\"PS TRENDING PAIRS 31102105\" width=\"486\" height=\"621\" /></a>\r\n\r\n&nbsp;\r\n\r\n4.3: THE PREMIUM SERVICE - LIVE TRADES ARE:\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/10/PS-LIVE-TRADES-31102015.png\"><img class=\"aligncenter size-full wp-image-6702\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/10/PS-LIVE-TRADES-31102015.png\" alt=\"PS LIVE TRADES 31102015\" width=\"700\" height=\"553\" /></a>\r\n\r\n&nbsp;\r\n\r\n4.4: THE PREMIUM SERVICE – LIMIT ORDER TRADES ARE:\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/10/PS-LIMIT-ORDERS-31102105.png\"><img class=\"aligncenter size-full wp-image-6724\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/10/PS-LIMIT-ORDERS-31102105.png\" alt=\"PS LIMIT ORDERS 31102105\" width=\"685\" height=\"430\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/10/FUN187-WEEKLY-EURUSD-31102015.png\"><img class=\"aligncenter size-large wp-image-6730\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/10/FUN187-WEEKLY-EURUSD-31102015-1024x514.png\" alt=\"FUN187 WEEKLY EURUSD 31102015\" width=\"1024\" height=\"514\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/10/FUN188-USDCHF-MONTHLY-31102015.png\"><img class=\"aligncenter size-large wp-image-6729\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/10/FUN188-USDCHF-MONTHLY-31102015-1024x514.png\" alt=\"FUN188 USDCHF MONTHLY 31102015\" width=\"1024\" height=\"514\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/10/FUN189-EURGBP-DAILY-31102015.png\"><img class=\"aligncenter size-large wp-image-6728\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/10/FUN189-EURGBP-DAILY-31102015-1024x514.png\" alt=\"FUN189 EURGBP DAILY 31102015\" width=\"1024\" height=\"514\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/10/FUN190-DAILY-AUDCHF-31102015.png\"><img class=\"aligncenter size-large wp-image-6727\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/10/FUN190-DAILY-AUDCHF-31102015-1024x514.png\" alt=\"FUN190 DAILY AUDCHF 31102015\" width=\"1024\" height=\"514\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/10/FUN191-USDCAD-WEEKLY-31102015.png\"><img class=\"aligncenter size-large wp-image-6726\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/10/FUN191-USDCAD-WEEKLY-31102015-1024x514.png\" alt=\"FUN191 USDCAD WEEKLY 31102015\" width=\"1024\" height=\"514\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/10/FUN192-NZDUSD-MONTHLY-31102015.png\"><img class=\"aligncenter size-large wp-image-6731\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/10/FUN192-NZDUSD-MONTHLY-31102015-1024x514.png\" alt=\"FUN192 NZDUSD MONTHLY 31102015\" width=\"1024\" height=\"514\" /></a>\r\n\r\n&nbsp;\r\n\r\n4.5: POTENTIAL TRADES - WHAT PAIRS / CHARTS AM I LOOKING AT:\r\n\r\nIn addition to those in the section above that meet my criteria for a longer-term FUNDAMENTAL TRADE the following charts reflect those that have caught my eye. All of my thoughts and views are contained on the charts.\r\n\r\n<strong><a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/10/EURJPY-W-31102015.png\"><img class=\"aligncenter size-large wp-image-6734\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/10/EURJPY-W-31102015-1024x514.png\" alt=\"EURJPY W 31102015\" width=\"1024\" height=\"514\" /></a> </strong>\r\n\r\n<strong> </strong>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/10/GBPCHF-DAILY-31102015.png\"><img class=\"aligncenter size-large wp-image-6733\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/10/GBPCHF-DAILY-31102015-1024x514.png\" alt=\"GBPCHF DAILY 31102015\" width=\"1024\" height=\"514\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/10/GBPNZD-DAILY-31102015.png\"><img class=\"aligncenter size-large wp-image-6732\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/10/GBPNZD-DAILY-31102015-1024x514.png\" alt=\"GBPNZD DAILY 31102015\" width=\"1024\" height=\"514\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n<ol start=\"5\">\r\n	<li><strong>MY FINAL THOUGHTS:</strong></li>\r\n</ol>\r\nOVERVIEW OF TRADING TIPS &amp; THOUGHTS FOR THE WEEK AHEAD:\r\n\r\nThis should be one hell of a week. There is so much on the agenda, as mentioned earlier in the blog that finding time to sleep will be a challenge.\r\n\r\nThis will be a pivotal week for gaining the knowledge on how to move forward with our macro level trade plans. Because there are so many economic news events from the four corners of the globe, if ever there was a time to trade with wider stops and smaller position sizes this would be it.\r\n\r\nThe chances of seeing false moves given all the data is higher than normal and one does NOT want to be trapped the wrong side because an oversized trade was entered into at the wrong time.\r\n\r\nRemain keen but trade lean…is the motto this week.\r\n\r\nTake care and enjoy,\r\n\r\nScott Pickering\r\nThe Pip Accumulator\r\nhttps://weeklyfxdrivethru.com/disclaimer/','FOR THE FED - IT’S ALL ABOUT CREDIBILTY NOW….','','inherit','closed','closed','','6735-revision-v1','','','2015-10-31 10:57:45','2015-10-31 15:57:45','',6735,'https://weeklyfxdrivethru.com/6735-revision-v1/',0,'revision','',0),(6738,1,'2015-10-31 16:30:41','2015-10-31 21:30:41','<p style=\"text-align: center;\"><strong>THE PREMIUM SERVICE</strong>\r\n<strong>from the</strong>\r\n<strong>WEEKLY FX DRIVE THRU</strong>\r\n<strong>“The Home of Single Lot Trading”</strong></p>\r\n<strong> </strong>\r\n<ol>\r\n	<li><strong> THE VIEW FROM MY TRADE DESK:</strong></li>\r\n</ol>\r\nLOOKING BACKWARDS, FORWARDS &amp; SIDEWAYS (FOR GOOD MEASURE) AT THE FX MARKET:\r\n\r\n1.1: LOOKING BACKWARDS:\r\n\r\nLike many other traders I viewed last week as a pivotal week to give us as Forex Traders guidance into the end of the year and the first quarter of 2016. Having had time to reflect on statements from the FED, RBNZ and BOJ, I have to admit I am both clear and then unclear…… fecking great!\r\n\r\nI made a few trades and banked $$$, but I am also caught in a few trades under water but believe them to be in the right direction moving forward…who doesn’t!\r\n\r\nMaybe I want, or, maybe I expect too much from central bank governors / presidents. I thought, obviously incorrectly, that part of their role and responsibility is to maintain stability with the currencies that they represent and give direction to ensure that market uncertainty is kept to a minimum. I am struggling to see how any central bank governor / president is managing this aspect with any real commanding degree of effectiveness.\r\n\r\nMy main article this week is aimed primarily at the FED and its behavior over recent times so I will hold those comments until later.\r\n\r\nLooking at the RBNZ: Yer man, the governor of the RBNZ Graeme Wheeler, confuses the crap out of me. One-minute Kiwi valuations are too strong and he talks down the currency and in the next breath he says nothing, after a rally out of nowhere.\r\n\r\nBasically he took his foot off the gas to press the pair lower and it bounced from 0.6300 back to almost 0.6800. I wish I knew more about the Kiwi money supply but I would guess that it must be out of sync with the size of the country.\r\n\r\nWhat I mean is New Zealand is a small country and it is primarily a milk exporter. Looking at international bank currency data, the NZD was ranked 10<sup>th</sup> in the world a year or so ago with an average daily turnover $105 billion, which at the time was just under 56% of GDP.\r\n\r\nTo give some scale the percentage of GDP to over the counter trading volumes with other majors are: - CHF 32%, AUD 27% and USD 13%. With the NZD at 56%, it brings to mind the phrase “you are punching well above your weight”.\r\n\r\nHaving this as a backdrop, and, the RBNZ is well aware of these numbers and you can bet more up to date data as well, you would think the RBNZ governor would be stronger and act accordingly. This is why I consistently have a go at Wheeler. In my opinion he does not offer great guidance and creates uncertainty. This is one reason why the NZD flies all over the place.\r\n\r\nIf you were an institution trying to take advantage of the interest rate differential it must be pure hell with the Kiwi. In my eyes, you would be better off using the Las Vegas option!\r\n\r\nThe upshot is; at the next meeting I think he will jawbone. Right now I bet there are some very twitchy bottoms with the NZD/USD approaching 0.6800. I think some of this recent upward move is on the back of China news that allows families to have a second child subject to approval from the state (I cannot believe it’s 2015 and I have just written that sentence).\r\n\r\nThe BOJ kept easing on hold, but gave themselves 6 months extra to achieve their self imposed 2% inflation target and at the same time of announcing this they also said they would have an additional budget announcement. From my perspective, the door to more Quantitative Easing (QE) has been left slightly ajar.\r\n\r\nBeing a USD bull on the back of central bank policy divergence policy, you can imagine the poor USD data at the end of the week has me in great form for this weekend. I am of course being 110% sarcastic. The poor USD killed my open trades, I now reckon I will require either one unbelievable day of USD strength or alternatively a bit of momentum trading over a few days to bring all of my broker accounts in line.\r\n\r\nJoking apart; with USD data so poor (GDP, PCE etc.) and with a FED stating that increases in rates are “Data Dependent”, next weeks job data releases need to be blowout numbers for a December rate hike… or do they? I have a contrarian view on this later in the blog.\r\n\r\n&nbsp;\r\n\r\n1.2: LOOKING FORWARD:\r\n\r\nMAJOR FOREX NEWS THIS WEEK THAT INTERESTS ME:\r\n(There are many more news items related to the Forex Market other than the ones listed below. These are the ones that interest me. You can go to <a href=\"http://www.forexfactory.com\">www.forexfactory.com</a> and <a href=\"http://www.tradingeconomics.com\">www.tradingeconomics.com</a> for a more comprehensive lists of all news events that are Forex related).\r\nSUNDAY: AUD – Building Approvals.\r\nSUNDAY: CNY – Manufacturing PMi.\r\n\r\nMONDAY: GBP – Manufacturing PMi.\r\nMONDAY: USD – ISM Manufacturing PMi.\r\nMONDAY: AUD – RBA Rate Statement and Cash Rate.\r\n\r\nTUESDAY: GBP – Construction PMi.\r\nTUESDAY: NZD – Dairy Prices.\r\nTUESDAY: EUR – Words of wisdom from Mario Draghi (ECB).\r\nTUESDAY: NZD – Employment Data.\r\nTUESDAY: AUD – Retail Sales.\r\nTUESDAY: AUD – Trade Balance.\r\n\r\nWEDNESDAY: EUR – Words of wisdom from Mario Draghi (ECB).\r\nWEDNESDAY: GBP – Services PMi.\r\nWEDNESDAY: USD – ADP Non Farm Payrolls.\r\nWEDNESDAY: USD – Trade Balance.\r\nWEDNESDAY: CAD – Trade Balance.\r\nWEDNESDAY: USD – Janet Yellen Testifies (FED).\r\nWEDNESDAY: USD – ISM Non-Manufacturing PMi.\r\nWEDNESDAY: AUD – Words of wisdom from Glenn Stevens (RBA).\r\n\r\nTHURSDAY: EUR – Words of wisdom from Mario Draghi (ECB).\r\nTHURSDAY: GBP – BOE Inflation report.\r\nTHURSDAY: GBP – BOE Official Bank Rate.\r\nTHURSDAY: GBP – Words of wisdom from Mark Carney (BOE).\r\nTHURSDAY: AUD – RBA Monetary Policy Statement.\r\n\r\nFRIDAY: CAD – Employment Change and Unemployment Rate.\r\nFRIDAY: USD – Non-Farm Employment Data.\r\n\r\nMY THOUGHTS ON THE NEWS ITEMS THIS COMING WEEK:\r\n\r\nThe first thing that comes to mind looking at my list above is “yikes no sleep”.\r\n\r\nThis week is about prioritizing time. It is a heavy week on key data and I am not saying that you need to be around for it all, but everything seems to inter-connect more than ever.\r\n\r\nMy key trades at the moment involve the following pairs: - EUR/USD, USD/CHF, NZD/USD, EUR/GBP, EUR/CHF and EUR/NZD\r\n\r\nBasically, I am screwed!\r\n\r\nU.S., European, China and Antipodean data is all-relevant to my open trades. It looks like I am not going to get much sleep at all.\r\n\r\nThe standouts are obviously, the BOE Inflation report and U.S. Non-Farm Payrolls at the end of the week. The Central bank speeches sometimes flatter to deceive but they are important to follow as well in my opinion.\r\n\r\nLooking at it all, to be honest it is another pivotal week for data.\r\n\r\nFor me, my longer-term trading strategy will be provided with more macro and micro economic data this week to place in my melting pot of trade ideas.\r\n\r\nThere will be a lot of information this coming week for us to store and take into consideration to help formulate plans and strategies moving forward. It will be a tiring week - of that there is no doubt.\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\nMY KEY SUPPORT &amp; RESISTANCE LEVELS THIS WEEK FOR USD MAJORS<b>:\r\n</b>In this section I have as usual kept my charts as minimalist as possible. All readers regardless of level of experience should be able to follow my thoughts from my comments to the levels on the charts with ease.\r\n\r\nAll of my thoughts, ideas and relevant comments are contained on the charts.\r\n\r\n&nbsp;\r\n\r\nEUR/USD - Weekly Closing Price: 1.1005\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/10/EURUSD-W-31102015.png\"><img class=\"aligncenter size-large wp-image-6709\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/10/EURUSD-W-31102015-1024x514.png\" alt=\"EURUSD W 31102015\" width=\"1024\" height=\"514\" /></a>\r\n\r\n&nbsp;\r\n\r\nGBP/USD - Weekly Closing Price: 1.5429\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/10/GBPUSD-D-31102015.png\"><img class=\"aligncenter size-large wp-image-6708\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/10/GBPUSD-D-31102015-1024x514.png\" alt=\"GBPUSD D 31102015\" width=\"1024\" height=\"514\" /></a>\r\n\r\n&nbsp;\r\n\r\nAUD/USD - Weekly Closing Price: 0.7137\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/10/AUDUSD-D-31102015.png\"><img class=\"aligncenter size-large wp-image-6710\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/10/AUDUSD-D-31102015-1024x514.png\" alt=\"AUDUSD D 31102015\" width=\"1024\" height=\"514\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\nNZD/USD - Weekly Closing Price: 0.6775\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/10/NZDUSD-D-31102015.png\"><img class=\"aligncenter size-large wp-image-6707\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/10/NZDUSD-D-31102015-1024x514.png\" alt=\"NZDUSD D 31102015\" width=\"1024\" height=\"514\" /></a>\r\n\r\n&nbsp;\r\n\r\nUSD/CAD - Weekly Closing Price: 1.3071\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/10/USDCAD-D-31102015.png\"><img class=\"aligncenter size-large wp-image-6706\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/10/USDCAD-D-31102015-1024x514.png\" alt=\"USDCAD D 31102015\" width=\"1024\" height=\"514\" /></a>\r\n\r\n&nbsp;\r\n\r\nUSD/CHF - Weekly Closing Price: 0.9881\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/10/USDCHF-D-31102015.png\"><img class=\"aligncenter size-large wp-image-6705\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/10/USDCHF-D-31102015-1024x514.png\" alt=\"USDCHF D 31102015\" width=\"1024\" height=\"514\" /></a>\r\n\r\n&nbsp;\r\n\r\nUSD/JPY - Weekly Closing Price: 120.62\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/10/USDJPY-D-31102015.png\"><img class=\"aligncenter size-large wp-image-6704\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/10/USDJPY-D-31102015-1024x514.png\" alt=\"USDJPY D 31102015\" width=\"1024\" height=\"514\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n1.3: LOOKING SIDEWAYS (FOR GOOD MEASURE):\r\n\r\nI have a trading pitfall at the moment.\r\n\r\nI am not perfect (my wife will also verify this point).\r\n\r\nIf you were trading last Friday as the London equity markets were closing at noon (EST), you would have been aware of what can only be described as the most violent closing fix / flows I think that we have seen for months, definitely the wildest ride this year without a shadow of a doubt. The fact that last Friday was the last day of the month just exacerbated the end of month flows.\r\n\r\nWhat has this highlighted?\r\n\r\nIt makes me look at my stop placement more and more.\r\n\r\nI am guilty of not placing my stops in line with my RISK TOLERANCE levels within my TRADE PLAN. I am not sure but it must be something psychological within me that like’s to have a tolerance level behind the initial level of the stop that is placed when the trade is entered into.\r\n\r\nPsychological or not, it creates additional stress and this manifested itself around the London fix last Friday.\r\n\r\nI wanted to take advantage of the “Fix” extremes by adding additional trades but I had to initially deal with my USD/CHF long trades, which were moving closer to my stop loss levels and required attention. This cost me about 20 pips on the EUR/USD and USD/CHF new trades that I wanted to enter as I spent time adjusting the stops on the existing open trades.\r\n\r\nI know reading this it looks stupid. Why not just set your stop at the right level from the moment the trade is active? I know… the psychology of trading is something that we all deal with in different ways. Being a Forex Trader there is so much to consider and be aware of to make your daily routine easier.\r\n\r\nThis may seem a little crazy to write about, but from a psychological viewpoint identifying this as a trading issue and writing about it will hopefully help.\r\n\r\nThe fact that I was “pratting” around moving stops and tweeting this to my subscribers when I could have started new trades at better prices hit a nerve!\r\n\r\n&nbsp;\r\n\r\n<strong> </strong>\r\n<ol start=\"2\">\r\n	<li><strong> WHAT’S ON MY MIND:</strong></li>\r\n</ol>\r\n<p style=\"text-align: center;\"><strong>FOR THE FED - IT’S ALL ABOUT CREDIBILITY NOW….</strong></p>\r\nThe FED under Janet Yellen is so cautious, how does this woman as a pedestrian ever cross a street?\r\n\r\nThere are risks to everything in life. However, I keep returning to the one fact that continues to haunt me over and over again. After 7 years of zero interest rates; if the biggest economy in the world cannot even raise rates by 0.10% WTF! For months, the FOMC has dithered. If the U.S. economy is that damn fragile, the FOMC should be held accountable for mismanagement and fired after 7 years of basically having a free-reign.\r\n\r\nHow long ago did tapering end?\r\n\r\nIf you cannot remember it was just over a year ago in October 2014. Ben Bernanke announced then that normalization in monetary FED policy would return sooner rather than later.\r\n\r\nWell… here we are 12 months later “Helicopter Ben” has been replaced by “Dithering Janet”.\r\n\r\nFour words stood out from the FED statement last Wednesday for most analysts, which were - “At the next meeting”.\r\n\r\nPersonally, I think it’s going to take a recession to stop a rate hike in December.\r\n\r\nI know that many of you think that I love placing my balls on the chopping block time after time with some of my views, but in this particular instance, my balls are on the chopping block because I really think it’s all about FED credibility.\r\n\r\nIf you are a regular reader you will know that I think that just prior to the summer the FOMC should have lifted off, then in September I thought it better late than never. I was astonished that they did not raise rates last month. I said and stick with it…. it was dithering.\r\n\r\nNow the FOMC is at the last station on the line before the terminus.\r\n\r\nThe FOMC said that they would raise rates in 2015, they keep talking about data dependency, but they have moved goal posts this year regarding data dependency. They threw in a red herring about the world economic position in the September policy statement and ensuing Press Conference, to justify no rate increase in September.\r\n\r\nThen last week the world economic slowdown and other world economics are all of a sudden not that important anymore. This equates to classic dithering in my opinion.\r\n\r\nIf the FOMC does not raise rates this year they will lose credibility as far as the markets are concerned. Everything they say from now on will be taken with a pinch of salt. They will NOT be believed.\r\n\r\nIn my opinion, it is going to take a massive world event, or the worst ever set of job numbers in the history of the U.S. to prevent a rate increase in December.\r\n\r\nAll the consumer data should show increases after Thanksgiving. The seasonality effect of most sales numbers, which will be paired back because of a slowdown in the run up to the final quarter, will come in, in line or slightly better. There will be a massive amount of part-time hires from now through the holiday season if the FOMC cannot muster a 0.25% rate increase she will at least have to sanction 0.10% with a note of more to come in 2016.\r\n\r\nWe are talking about the biggest economy in the world. It is now over 12 months since we were advised that FED monetary policy was changing and normalization was returning.\r\n\r\nI ask you…\r\n\r\nHow many times do we have to hear the word “Transitory?”\r\n\r\nWe have had 12 months of transitory. The issues that cause concern each meeting cannot remain transitory for a year; by now they must be permanent one must have thought.\r\n\r\nI know I am somewhat alone with these thoughts, as most views are looking further down the line, to possibly the first quarter in 2016 before a rate increase would take place. Time will tell if my thoughts resonate with the FOMC and whether or not credibility with the markets is important to them.\r\n\r\nI really do believe that Janet Yellen regrets not raising rates in September. This uncertainty and market volatility that we see is pure and simply self-inflicted upon us by the FED.\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n<ol start=\"3\">\r\n	<li><strong> THE PREMIUM SERVICE:\r\n</strong></li>\r\n</ol>\r\n3.1: SUMMARY OF YEAR TO DATE PERFORMANCE - 2015:\r\n\r\nPREMIUM SERVICE – COST INCOME ANALYSIS (USD):\r\n\r\nPROFITS FROM TRADE SET-UPS – to October 31st 2015.\r\n(The profit levels below are based on single lot trades only)\r\n\r\nMICRO LOT TRADER - 576 trades cost to trade = $57.60\r\n<strong>PROFIT</strong> from 576 trades = <strong>$985.80</strong>\r\n\r\nMINI LOT TRADER - 576 trades cost to trade = $576.00\r\n<strong>PROFIT</strong> from 576 trades = <strong>$9,858.00</strong>\r\n\r\nSTANDARD LOT TRADER - 576 trades cost to trade = $5,760.00\r\n<strong>PROFIT</strong> from 576 trades = <strong>$98,580.00</strong>\r\n\r\n&nbsp;\r\n\r\n3.2: PREMIUM SERVICE – TRADE SUMMARIES THIS MONTH:\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/10/RADAR1-31102105.png\"><img class=\"aligncenter size-full wp-image-6695\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/10/RADAR1-31102105.png\" alt=\"RADAR1 31102105\" width=\"507\" height=\"542\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/10/RADAR2-31102015.png\"><img class=\"aligncenter size-full wp-image-6696\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/10/RADAR2-31102015.png\" alt=\"RADAR2 31102015\" width=\"487\" height=\"551\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/10/RADAR-YTD-31102015.png\"><img class=\"aligncenter size-full wp-image-6711\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/10/RADAR-YTD-31102015.png\" alt=\"RADAR YTD 31102015\" width=\"426\" height=\"445\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/10/FLASH1-31102015.png\"><img class=\"aligncenter size-full wp-image-6697\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/10/FLASH1-31102015.png\" alt=\"FLASH1 31102015\" width=\"474\" height=\"543\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/10/FLASH2-31102015.png\"><img class=\"aligncenter size-full wp-image-6698\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/10/FLASH2-31102015.png\" alt=\"FLASH2 31102015\" width=\"498\" height=\"542\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/10/FLASH-YTD-31102015.png\"><img class=\"aligncenter size-full wp-image-6712\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/10/FLASH-YTD-31102015.png\" alt=\"FLASH YTD 31102015\" width=\"420\" height=\"449\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/10/FUNDAMENTAL-31102015.png\"><img class=\"aligncenter size-full wp-image-6699\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/10/FUNDAMENTAL-31102015.png\" alt=\"FUNDAMENTAL 31102015\" width=\"513\" height=\"549\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/10/FUN-YTD-31102105.png\"><img class=\"aligncenter size-full wp-image-6713\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/10/FUN-YTD-31102105.png\" alt=\"FUN YTD 31102105\" width=\"415\" height=\"442\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n3.3: PREMIUM SERVICE – 2015 PERFORMANCE TO DATE:\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/10/PS-PROFITS1-31102105.png\"><img class=\"aligncenter size-full wp-image-6693\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/10/PS-PROFITS1-31102105.png\" alt=\"PS PROFITS1 31102105\" width=\"527\" height=\"420\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/10/PREM-SERV-PROFITS2-31102105.png\"><img class=\"aligncenter size-full wp-image-6721\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/10/PREM-SERV-PROFITS2-31102105.png\" alt=\"PREM SERV PROFITS2 31102105\" width=\"520\" height=\"425\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n3.4: PREMIUM SERVICE – 2014 TOTAL PERFORMANCE:\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/10/PREM-SERV-PROFITS-2014.png\"><img class=\"aligncenter size-full wp-image-6667\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/10/PREM-SERV-PROFITS-2014.png\" alt=\"PREM SERV PROFITS 2014\" width=\"452\" height=\"401\" /></a>\r\n\r\n&nbsp;\r\n\r\nNOTES:\r\n<ul>\r\n	<li>If the above return from Forex Trading interests you go to my website landing page at <a href=\"http://www.weeklyfxdrivethru.com\">weeklyfxdrivethru.com</a> and check out the subscription options and special promotions under the tabs “PREMIUM SERVICE” and “PROMOTIONS”</li>\r\n	<li>If you want more data about the performance and my website does not answer your questions, contact me direct and I will supply the data you require.</li>\r\n	<li>THE PREMIUM SERVICE has subscribers with broker accounts of sizes ranging from $2,500 to over $100,000. A profitable trade is a profitable trade. It is all about trading according to the size of your broker account (EFFECTIVE POSITION SIZING) and applying RISK MANAGEMENT principles at all times.</li>\r\n</ul>\r\n<strong> </strong>\r\n\r\n<strong> </strong>\r\n<ol start=\"4\">\r\n	<li><strong> PREMIUM SERVICE (GOLD) SUBSCRIBER CONTENT:\r\n</strong>(The following section is additional data, thoughts, and ideas exclusively for PREMIUM SERVICE (GOLD) subscribers)</li>\r\n</ol>\r\n4.1: THE PREMIUM SERVICE – TRADING REVIEW:\r\n(A look back at the past week’s highs and lows from trades undertaken):\r\n\r\n4.1.2: REVISIONS TO TRADE STYLE DEFINITIONS:\r\n\r\n4.1.3: TRADES BASED ON DIVERGENT CENTRAL BANK POLICY:\r\n\r\n4.2: MAJOR TRADING PAIRS WITH LONGER-TERM MATCHING TRENDS:\r\n(The following currency pairs have Short Term (DAILY), Medium Term (WEEKLY) and Long Term (MONTHLY) charts all trending in the same direction).\r\n\r\n4.3: THE PREMIUM SERVICE - LIVE TRADES ARE:\r\n\r\n4.4: THE PREMIUM SERVICE – LIMIT ORDER TRADES ARE:\r\n\r\n4.5: POTENTIAL TRADES - WHAT PAIRS / CHARTS AM I LOOKING AT?\r\n\r\n<strong> </strong>\r\n<ol start=\"5\">\r\n	<li><strong> MY FINAL THOUGHTS:</strong></li>\r\n</ol>\r\nOVERVIEW OF TRADING TIPS &amp; THOUGHTS FOR THE WEEK AHEAD:\r\n\r\nThis should be one hell of a week. There is so much on the agenda, as mentioned earlier in the blog that finding time to sleep will be a challenge.\r\n\r\nThis will be a pivotal week for gaining the knowledge on how to move forward with our macro level trade plans. Because there are so many economic news events from the four corners of the globe, if ever there was a time to trade with wider stops and smaller position sizes this would be it.\r\n\r\nThe chances of seeing false moves given all the data is higher than normal and one does NOT want to be trapped the wrong side because an oversized trade was entered into at the wrong time.\r\n\r\nRemain keen but trade lean…is the motto this week.\r\n\r\nTake care and enjoy,\r\n\r\nScott Pickering\r\nThe Pip Accumulator\r\n<a href=\"https://weeklyfxdrivethru.com/disclaimer/\">https://weeklyfxdrivethru.com/disclaimer/\r\n</a>BLOG #175','FOR THE FED - IT’S ALL ABOUT CREDIBILTY NOW….','','publish','open','closed','','for-the-fed-its-all-about-credibilty-now','','','2015-10-31 16:30:41','2015-10-31 21:30:41','',0,'https://weeklyfxdrivethru.com/?p=6738',0,'post','',0),(6739,1,'2015-10-31 11:16:55','2015-10-31 16:16:55','<p style=\"text-align: center;\"><strong>THE PREMIUM SERVICE</strong>\r\n<strong>from the</strong>\r\n<strong>WEEKLY FX DRIVE THRU</strong>\r\n<strong>“The Home of Single Lot Trading”</strong></p>\r\n<strong> </strong>\r\n<ol>\r\n	<li><strong> THE VIEW FROM MY TRADE DESK:</strong></li>\r\n</ol>\r\nLOOKING BACKWARDS, FORWARDS &amp; SIDEWAYS (FOR GOOD MEASURE) AT THE FX MARKET:\r\n\r\n1.1: LOOKING BACKWARDS:\r\n\r\nLike many other traders I viewed last week as a pivotal week to give us as Forex Traders guidance into the end of the year and the first quarter of 2016. Having had time to reflect on statements from the FED, RBNZ and BOJ, I have to admit I am both clear and then unclear…… fecking great!\r\n\r\nI made a few trades and banked $$$, but I am also caught in a few trades under water but believe them to be in the right direction moving forward…who doesn’t!\r\n\r\nMaybe I want, or, maybe I expect too much from central bank governors / presidents. I thought, obviously incorrectly, that part of their role and responsibility is to maintain stability with the currencies that they represent and give direction to ensure that market uncertainty is kept to a minimum. I am struggling to see how any central bank governor / president is managing this aspect with any real commanding degree of effectiveness.\r\n\r\nMy main article this week is aimed primarily at the FED and its behavior over recent times so I will hold those comments until later.\r\n\r\nLooking at the RBNZ: Yer man, the governor of the RBNZ Graeme Wheeler, confuses the crap out of me. One-minute Kiwi valuations are too strong and he talks down the currency and in the next breath he says nothing, after a rally out of nowhere.\r\n\r\nBasically he took his foot off the gas to press the pair lower and it bounced from 0.6300 back to almost 0.6800. I wish I knew more about the Kiwi money supply but I would guess that it must be out of sync with the size of the country.\r\n\r\nWhat I mean is New Zealand is a small country and it is primarily a milk exporter. Looking at international bank currency data, the NZD was ranked 10<sup>th</sup> in the world a year or so ago with an average daily turnover $105 billion, which at the time was just under 56% of GDP.\r\n\r\nTo give some scale the percentage of GDP to over the counter trading volumes with other majors are: - CHF 32%, AUD 27% and USD 13%. With the NZD at 56%, it brings to mind the phrase “you are punching well above your weight”.\r\n\r\nHaving this as a backdrop, and, the RBNZ is well aware of these numbers and you can bet more up to date data as well, you would think the RBNZ governor would be stronger and act accordingly. This is why I consistently have a go at Wheeler. In my opinion he does not offer great guidance and creates uncertainty. This is one reason why the NZD flies all over the place.\r\n\r\nIf you were an institution trying to take advantage of the interest rate differential it must be pure hell with the Kiwi. In my eyes, you would be better off using the Las Vegas option!\r\n\r\nThe upshot is; at the next meeting I think he will jawbone. Right now I bet there are some very twitchy bottoms with the NZD/USD approaching 0.6800. I think some of this recent upward move is on the back of China news that allows families to have a second child subject to approval from the state (I cannot believe it’s 2015 and I have just written that sentence).\r\n\r\nThe BOJ kept easing on hold, but gave themselves 6 months extra to achieve their self imposed 2% inflation target and at the same time of announcing this they also said they would have an additional budget announcement. From my perspective, the door to more Quantitative Easing (QE) has been left slightly ajar.\r\n\r\nBeing a USD bull on the back of central bank policy divergence policy, you can imagine the poor USD data at the end of the week has me in great form for this weekend. I am of course being 110% sarcastic. The poor USD killed my open trades, I now reckon I will require either one unbelievable day of USD strength or alternatively a bit of momentum trading over a few days to bring all of my broker accounts in line.\r\n\r\nJoking apart; with USD data so poor (GDP, PCE etc.) and with a FED stating that increases in rates are “Data Dependent”, next weeks job data releases need to be blowout numbers for a December rate hike… or do they? I have a contrarian view on this later in the blog.\r\n\r\n&nbsp;\r\n\r\n1.2: LOOKING FORWARD:\r\n\r\nMAJOR FOREX NEWS THIS WEEK THAT INTERESTS ME:\r\n(There are many more news items related to the Forex Market other than the ones listed below. These are the ones that interest me. You can go to <a href=\"http://www.forexfactory.com\">www.forexfactory.com</a> and <a href=\"http://www.tradingeconomics.com\">www.tradingeconomics.com</a> for a more comprehensive lists of all news events that are Forex related).\r\nSUNDAY: AUD – Building Approvals.\r\nSUNDAY: CNY – Manufacturing PMi.\r\n\r\nMONDAY: GBP – Manufacturing PMi.\r\nMONDAY: USD – ISM Manufacturing PMi.\r\nMONDAY: AUD – RBA Rate Statement and Cash Rate.\r\n\r\nTUESDAY: GBP – Construction PMi.\r\nTUESDAY: NZD – Dairy Prices.\r\nTUESDAY: EUR – Words of wisdom from Mario Draghi (ECB).\r\nTUESDAY: NZD – Employment Data.\r\nTUESDAY: AUD – Retail Sales.\r\nTUESDAY: AUD – Trade Balance.\r\n\r\nWEDNESDAY: EUR – Words of wisdom from Mario Draghi (ECB).\r\nWEDNESDAY: GBP – Services PMi.\r\nWEDNESDAY: USD – ADP Non Farm Payrolls.\r\nWEDNESDAY: USD – Trade Balance.\r\nWEDNESDAY: CAD – Trade Balance.\r\nWEDNESDAY: USD – Janet Yellen Testifies (FED).\r\nWEDNESDAY: USD – ISM Non-Manufacturing PMi.\r\nWEDNESDAY: AUD – Words of wisdom from Glenn Stevens (RBA).\r\n\r\nTHURSDAY: EUR – Words of wisdom from Mario Draghi (ECB).\r\nTHURSDAY: GBP – BOE Inflation report.\r\nTHURSDAY: GBP – BOE Official Bank Rate.\r\nTHURSDAY: GBP – Words of wisdom from Mark Carney (BOE).\r\nTHURSDAY: AUD – RBA Monetary Policy Statement.\r\n\r\nFRIDAY: CAD – Employment Change and Unemployment Rate.\r\nFRIDAY: USD – Non-Farm Employment Data.\r\n\r\nMY THOUGHTS ON THE NEWS ITEMS THIS COMING WEEK:\r\n\r\nThe first thing that comes to mind looking at my list above is “yikes no sleep”.\r\n\r\nThis week is about prioritizing time. It is a heavy week on key data and I am not saying that you need to be around for it all, but everything seems to inter-connect more than ever.\r\n\r\nMy key trades at the moment involve the following pairs: - EUR/USD, USD/CHF, NZD/USD, EUR/GBP, EUR/CHF and EUR/NZD\r\n\r\nBasically, I am screwed!\r\n\r\nU.S., European, China and Antipodean data is all-relevant to my open trades. It looks like I am not going to get much sleep at all.\r\n\r\nThe standouts are obviously, the BOE Inflation report and U.S. Non-Farm Payrolls at the end of the week. The Central bank speeches sometimes flatter to deceive but they are important to follow as well in my opinion.\r\n\r\nLooking at it all, to be honest it is another pivotal week for data.\r\n\r\nFor me, my longer-term trading strategy will be provided with more macro and micro economic data this week to place in my melting pot of trade ideas.\r\n\r\nThere will be a lot of information this coming week for us to store and take into consideration to help formulate plans and strategies moving forward. It will be a tiring week - of that there is no doubt.\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\nMY KEY SUPPORT &amp; RESISTANCE LEVELS THIS WEEK FOR USD MAJORS<b>:\r\n</b>In this section I have as usual kept my charts as minimalist as possible. All readers regardless of level of experience should be able to follow my thoughts from my comments to the levels on the charts with ease.\r\n\r\nAll of my thoughts, ideas and relevant comments are contained on the charts.\r\n\r\n&nbsp;\r\n\r\nEUR/USD - Weekly Closing Price: 1.1005\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/10/EURUSD-W-31102015.png\"><img class=\"aligncenter size-large wp-image-6709\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/10/EURUSD-W-31102015-1024x514.png\" alt=\"EURUSD W 31102015\" width=\"1024\" height=\"514\" /></a>\r\n\r\n&nbsp;\r\n\r\nGBP/USD - Weekly Closing Price: 1.5429\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/10/GBPUSD-D-31102015.png\"><img class=\"aligncenter size-large wp-image-6708\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/10/GBPUSD-D-31102015-1024x514.png\" alt=\"GBPUSD D 31102015\" width=\"1024\" height=\"514\" /></a>\r\n\r\n&nbsp;\r\n\r\nAUD/USD - Weekly Closing Price: 0.7137\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/10/AUDUSD-D-31102015.png\"><img class=\"aligncenter size-large wp-image-6710\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/10/AUDUSD-D-31102015-1024x514.png\" alt=\"AUDUSD D 31102015\" width=\"1024\" height=\"514\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\nNZD/USD - Weekly Closing Price: 0.6775\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/10/NZDUSD-D-31102015.png\"><img class=\"aligncenter size-large wp-image-6707\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/10/NZDUSD-D-31102015-1024x514.png\" alt=\"NZDUSD D 31102015\" width=\"1024\" height=\"514\" /></a>\r\n\r\n&nbsp;\r\n\r\nUSD/CAD - Weekly Closing Price: 1.3071\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/10/USDCAD-D-31102015.png\"><img class=\"aligncenter size-large wp-image-6706\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/10/USDCAD-D-31102015-1024x514.png\" alt=\"USDCAD D 31102015\" width=\"1024\" height=\"514\" /></a>\r\n\r\n&nbsp;\r\n\r\nUSD/CHF - Weekly Closing Price: 0.9881\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/10/USDCHF-D-31102015.png\"><img class=\"aligncenter size-large wp-image-6705\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/10/USDCHF-D-31102015-1024x514.png\" alt=\"USDCHF D 31102015\" width=\"1024\" height=\"514\" /></a>\r\n\r\n&nbsp;\r\n\r\nUSD/JPY - Weekly Closing Price: 120.62\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/10/USDJPY-D-31102015.png\"><img class=\"aligncenter size-large wp-image-6704\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/10/USDJPY-D-31102015-1024x514.png\" alt=\"USDJPY D 31102015\" width=\"1024\" height=\"514\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n1.3: LOOKING SIDEWAYS (FOR GOOD MEASURE):\r\n\r\nI have a trading pitfall at the moment.\r\n\r\nI am not perfect (my wife will also verify this point).\r\n\r\nIf you were trading last Friday as the London equity markets were closing at noon (EST), you would have been aware of what can only be described as the most violent closing fix / flows I think that we have seen for months, definitely the wildest ride this year without a shadow of a doubt. The fact that last Friday was the last day of the month just exacerbated the end of month flows.\r\n\r\nWhat has this highlighted?\r\n\r\nIt makes me look at my stop placement more and more.\r\n\r\nI am guilty of not placing my stops in line with my RISK TOLERANCE levels within my TRADE PLAN. I am not sure but it must be something psychological within me that like’s to have a tolerance level behind the initial level of the stop that is placed when the trade is entered into.\r\n\r\nPsychological or not, it creates additional stress and this manifested itself around the London fix last Friday.\r\n\r\nI wanted to take advantage of the “Fix” extremes by adding additional trades but I had to initially deal with my USD/CHF long trades, which were moving closer to my stop loss levels and required attention. This cost me about 20 pips on the EUR/USD and USD/CHF new trades that I wanted to enter as I spent time adjusting the stops on the existing open trades.\r\n\r\nI know reading this it looks stupid. Why not just set your stop at the right level from the moment the trade is active? I know… the psychology of trading is something that we all deal with in different ways. Being a Forex Trader there is so much to consider and be aware of to make your daily routine easier.\r\n\r\nThis may seem a little crazy to write about, but from a psychological viewpoint identifying this as a trading issue and writing about it will hopefully help.\r\n\r\nThe fact that I was “pratting” around moving stops and tweeting this to my subscribers when I could have started new trades at better prices hit a nerve!\r\n\r\n&nbsp;\r\n\r\n<strong> </strong>\r\n<ol start=\"2\">\r\n	<li><strong> WHAT’S ON MY MIND:</strong></li>\r\n</ol>\r\n<p style=\"text-align: center;\"><strong>FOR THE FED - IT’S ALL ABOUT CREDIBILITY NOW….</strong></p>\r\nThe FED under Janet Yellen is so cautious, how does this woman as a pedestrian ever cross a street?\r\n\r\nThere are risks to everything in life. However, I keep returning to the one fact that continues to haunt me over and over again. After 7 years of zero interest rates; if the biggest economy in the world cannot even raise rates by 0.10% WTF! For months, the FOMC has dithered. If the U.S. economy is that damn fragile, the FOMC should be held accountable for mismanagement and fired after 7 years of basically having a free-reign.\r\n\r\nHow long ago did tapering end?\r\n\r\nIf you cannot remember it was just over a year ago in October 2014. Ben Bernanke announced then that normalization in monetary FED policy would return sooner rather than later.\r\n\r\nWell… here we are 12 months later “Helicopter Ben” has been replaced by “Dithering Janet”.\r\n\r\nFour words stood out from the FED statement last Wednesday for most analysts, which were - “At the next meeting”.\r\n\r\nPersonally, I think it’s going to take a recession to stop a rate hike in December.\r\n\r\nI know that many of you think that I love placing my balls on the chopping block time after time with some of my views, but in this particular instance, my balls are on the chopping block because I really think it’s all about FED credibility.\r\n\r\nIf you are a regular reader you will know that I think that just prior to the summer the FOMC should have lifted off, then in September I thought it better late than never. I was astonished that they did not raise rates last month. I said and stick with it…. it was dithering.\r\n\r\nNow the FOMC is at the last station on the line before the terminus.\r\n\r\nThe FOMC said that they would raise rates in 2015, they keep talking about data dependency, but they have moved goal posts this year regarding data dependency. They threw in a red herring about the world economic position in the September policy statement and ensuing Press Conference, to justify no rate increase in September.\r\n\r\nThen last week the world economic slowdown and other world economics are all of a sudden not that important anymore. This equates to classic dithering in my opinion.\r\n\r\nIf the FOMC does not raise rates this year they will lose credibility as far as the markets are concerned. Everything they say from now on will be taken with a pinch of salt. They will NOT be believed.\r\n\r\nIn my opinion, it is going to take a massive world event, or the worst ever set of job numbers in the history of the U.S. to prevent a rate increase in December.\r\n\r\nAll the consumer data should show increases after Thanksgiving. The seasonality effect of most sales numbers, which will be paired back because of a slowdown in the run up to the final quarter, will come in, in line or slightly better. There will be a massive amount of part-time hires from now through the holiday season if the FOMC cannot muster a 0.25% rate increase she will at least have to sanction 0.10% with a note of more to come in 2016.\r\n\r\nWe are talking about the biggest economy in the world. It is now over 12 months since we were advised that FED monetary policy was changing and normalization was returning.\r\n\r\nI ask you…\r\n\r\nHow many times do we have to hear the word “Transitory?”\r\n\r\nWe have had 12 months of transitory. The issues that cause concern each meeting cannot remain transitory for a year; by now they must be permanent one must have thought.\r\n\r\nI know I am somewhat alone with these thoughts, as most views are looking further down the line, to possibly the first quarter in 2016 before a rate increase would take place. Time will tell if my thoughts resonate with the FOMC and whether or not credibility with the markets is important to them.\r\n\r\nI really do believe that Janet Yellen regrets not raising rates in September. This uncertainty and market volatility that we see is pure and simply self-inflicted upon us by the FED.\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n<ol start=\"3\">\r\n	<li><strong> THE PREMIUM SERVICE:\r\n</strong></li>\r\n</ol>\r\n3.1: SUMMARY OF YEAR TO DATE PERFORMANCE - 2015:\r\n\r\nPREMIUM SERVICE – COST INCOME ANALYSIS (USD):\r\n\r\nPROFITS FROM TRADE SET-UPS – to October 31st 2015.\r\n(The profit levels below are based on single lot trades only)\r\n\r\nMICRO LOT TRADER - 576 trades cost to trade = $57.60\r\n<strong>PROFIT</strong> from 576 trades = <strong>$985.80</strong>\r\n\r\nMINI LOT TRADER - 576 trades cost to trade = $576.00\r\n<strong>PROFIT</strong> from 576 trades = <strong>$9,858.00</strong>\r\n\r\nSTANDARD LOT TRADER - 576 trades cost to trade = $5,760.00\r\n<strong>PROFIT</strong> from 576 trades = <strong>$98,580.00</strong>\r\n\r\n&nbsp;\r\n\r\n3.2: PREMIUM SERVICE – TRADE SUMMARIES THIS MONTH:\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/10/RADAR1-31102105.png\"><img class=\"aligncenter size-full wp-image-6695\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/10/RADAR1-31102105.png\" alt=\"RADAR1 31102105\" width=\"507\" height=\"542\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/10/RADAR2-31102015.png\"><img class=\"aligncenter size-full wp-image-6696\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/10/RADAR2-31102015.png\" alt=\"RADAR2 31102015\" width=\"487\" height=\"551\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/10/RADAR-YTD-31102015.png\"><img class=\"aligncenter size-full wp-image-6711\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/10/RADAR-YTD-31102015.png\" alt=\"RADAR YTD 31102015\" width=\"426\" height=\"445\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/10/FLASH1-31102015.png\"><img class=\"aligncenter size-full wp-image-6697\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/10/FLASH1-31102015.png\" alt=\"FLASH1 31102015\" width=\"474\" height=\"543\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/10/FLASH2-31102015.png\"><img class=\"aligncenter size-full wp-image-6698\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/10/FLASH2-31102015.png\" alt=\"FLASH2 31102015\" width=\"498\" height=\"542\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/10/FLASH-YTD-31102015.png\"><img class=\"aligncenter size-full wp-image-6712\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/10/FLASH-YTD-31102015.png\" alt=\"FLASH YTD 31102015\" width=\"420\" height=\"449\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/10/FUNDAMENTAL-31102015.png\"><img class=\"aligncenter size-full wp-image-6699\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/10/FUNDAMENTAL-31102015.png\" alt=\"FUNDAMENTAL 31102015\" width=\"513\" height=\"549\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/10/FUN-YTD-31102105.png\"><img class=\"aligncenter size-full wp-image-6713\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/10/FUN-YTD-31102105.png\" alt=\"FUN YTD 31102105\" width=\"415\" height=\"442\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n3.3: PREMIUM SERVICE – 2015 PERFORMANCE TO DATE:\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/10/PS-PROFITS1-31102105.png\"><img class=\"aligncenter size-full wp-image-6693\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/10/PS-PROFITS1-31102105.png\" alt=\"PS PROFITS1 31102105\" width=\"527\" height=\"420\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/10/PREM-SERV-PROFITS2-31102105.png\"><img class=\"aligncenter size-full wp-image-6721\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/10/PREM-SERV-PROFITS2-31102105.png\" alt=\"PREM SERV PROFITS2 31102105\" width=\"520\" height=\"425\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n3.4: PREMIUM SERVICE – 2014 TOTAL PERFORMANCE:\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/10/PREM-SERV-PROFITS-2014.png\"><img class=\"aligncenter size-full wp-image-6667\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/10/PREM-SERV-PROFITS-2014.png\" alt=\"PREM SERV PROFITS 2014\" width=\"452\" height=\"401\" /></a>\r\n\r\n&nbsp;\r\n\r\nNOTES:\r\n<ul>\r\n	<li>If the above return from Forex Trading interests you go to my website landing page at <a href=\"http://www.weeklyfxdrivethru.com\">weeklyfxdrivethru.com</a> and check out the subscription options and special promotions under the tabs “PREMIUM SERVICE” and “PROMOTIONS”</li>\r\n	<li>If you want more data about the performance and my website does not answer your questions, contact me direct and I will supply the data you require.</li>\r\n	<li>THE PREMIUM SERVICE has subscribers with broker accounts of sizes ranging from $2,500 to over $100,000. A profitable trade is a profitable trade. It is all about trading according to the size of your broker account (EFFECTIVE POSITION SIZING) and applying RISK MANAGEMENT principles at all times.</li>\r\n</ul>\r\n<strong> </strong>\r\n\r\n<strong> </strong>\r\n<ol start=\"4\">\r\n	<li><strong> PREMIUM SERVICE (GOLD) SUBSCRIBER CONTENT:\r\n</strong>(The following section is additional data, thoughts, and ideas exclusively for PREMIUM SERVICE (GOLD) subscribers)</li>\r\n</ol>\r\n4.1: THE PREMIUM SERVICE – TRADING REVIEW:\r\n(A look back at the past week’s highs and lows from trades undertaken):\r\n\r\n4.1.2: REVISIONS TO TRADE STYLE DEFINITIONS:\r\n\r\n4.1.3: TRADES BASED ON DIVERGENT CENTRAL BANK POLICY:\r\n\r\n4.2: MAJOR TRADING PAIRS WITH LONGER-TERM MATCHING TRENDS:\r\n(The following currency pairs have Short Term (DAILY), Medium Term (WEEKLY) and Long Term (MONTHLY) charts all trending in the same direction).\r\n\r\n4.3: THE PREMIUM SERVICE - LIVE TRADES ARE:\r\n\r\n4.4: THE PREMIUM SERVICE – LIMIT ORDER TRADES ARE:\r\n\r\n4.5: POTENTIAL TRADES - WHAT PAIRS / CHARTS AM I LOOKING AT?\r\n\r\n<strong> </strong>\r\n<ol start=\"5\">\r\n	<li><strong> MY FINAL THOUGHTS:</strong></li>\r\n</ol>\r\nOVERVIEW OF TRADING TIPS &amp; THOUGHTS FOR THE WEEK AHEAD:\r\n\r\nThis should be one hell of a week. There is so much on the agenda, as mentioned earlier in the blog that finding time to sleep will be a challenge.\r\n\r\nThis will be a pivotal week for gaining the knowledge on how to move forward with our macro level trade plans. Because there are so many economic news events from the four corners of the globe, if ever there was a time to trade with wider stops and smaller position sizes this would be it.\r\n\r\nThe chances of seeing false moves given all the data is higher than normal and one does NOT want to be trapped the wrong side because an oversized trade was entered into at the wrong time.\r\n\r\nRemain keen but trade lean…is the motto this week.\r\n\r\nTake care and enjoy,\r\n\r\nScott Pickering\r\nThe Pip Accumulator\r\n<a href=\"https://weeklyfxdrivethru.com/disclaimer/\">https://weeklyfxdrivethru.com/disclaimer/\r\n</a>BLOG #175','FOR THE FED - IT’S ALL ABOUT CREDIBILTY NOW….','','inherit','closed','closed','','6738-revision-v1','','','2015-10-31 11:16:55','2015-10-31 16:16:55','',6738,'https://weeklyfxdrivethru.com/6738-revision-v1/',0,'revision','',0),(6741,1,'2015-10-31 16:20:07','2015-10-31 21:20:07','<p style=\"text-align: center;\"><strong>THE PREMIUM SERVICE</strong>\r\n<strong>from the</strong>\r\n<strong>WEEKLY FX DRIVE THRU</strong>\r\n<strong>“The Home of Single Lot Trading”</strong></p>\r\n<strong> </strong>\r\n<ol>\r\n	<li><strong> THE VIEW FROM MY TRADE DESK:</strong></li>\r\n</ol>\r\nLOOKING BACKWARDS, FORWARDS &amp; SIDEWAYS (FOR GOOD MEASURE) AT THE FX MARKET:<u> </u>\r\n\r\n1.1: LOOKING BACKWARDS:\r\n\r\nLike many other traders I viewed last week as a pivotal week to give us as Forex Traders guidance into the end of the year and the first quarter of 2016. Having had time to reflect on statements from the FED, RBNZ and BOJ, I have to admit I am both clear and then unclear…… fecking great!\r\n\r\nI made a few trades and banked $$$, but I am also caught in a few trades under water but believe them to be in the right direction moving forward…who doesn’t!\r\n\r\nMaybe I want, or, maybe I expect too much from central bank governors / presidents. I thought, obviously incorrectly, that part of their role and responsibility is to maintain stability with the currencies that they represent and give direction to ensure that market uncertainty is kept to a minimum. I am struggling to see how any central bank governor / president is managing this aspect with any real commanding degree of effectiveness.\r\n\r\nMy main article this week is aimed primarily at the FED and its behavior over recent times so I will hold those comments until later.\r\n\r\nLooking at the RBNZ: Yer man, the governor of the RBNZ Graeme Wheeler, confuses the crap out of me. One-minute Kiwi valuations are too strong and he talks down the currency and in the next breath he says nothing, after a rally out of nowhere.\r\n\r\nBasically he took his foot off the gas to press the pair lower and it bounced from 0.6300 back to almost 0.6800. I wish I knew more about the Kiwi money supply but I would guess that it must be out of sync with the size of the country.\r\n\r\nWhat I mean is New Zealand is a small country and it is primarily a milk exporter. Looking at international bank currency data, the NZD was ranked 10<sup>th</sup> in the world a year or so ago with an average daily turnover $105 billion, which at the time was just under 56% of GDP.\r\n\r\nTo give some scale the percentage of GDP to over the counter trading volumes with other majors are: - CHF 32%, AUD 27% and USD 13%. With the NZD at 56%, it brings to mind the phrase “you are punching well above your weight”.\r\n\r\nHaving this as a backdrop, and, the RBNZ is well aware of these numbers and you can bet more up to date data as well, you would think the RBNZ governor would be stronger and act accordingly. This is why I consistently have a go at Wheeler. In my opinion he does not offer great guidance and creates uncertainty. This is one reason why the NZD flies all over the place.\r\n\r\nIf you were an institution trying to take advantage of the interest rate differential it must be pure hell with the Kiwi. In my eyes, you would be better off using the Las Vegas option!\r\n\r\nThe upshot is; at the next meeting I think he will jawbone. Right now I bet there are some very twitchy bottoms with the NZD/USD approaching 0.6800. I think some of this recent upward move is on the back of China news that allows families to have a second child subject to approval from the state (I cannot believe it’s 2015 and I have just written that sentence).\r\n\r\nThe BOJ kept easing on hold, but gave themselves 6 months extra to achieve their self imposed 2% inflation target and at the same time of announcing this they also said they would have an additional budget announcement. From my perspective, the door to more Quantitative Easing (QE) has been left slightly ajar.\r\n\r\nBeing a USD bull on the back of central bank policy divergence policy, you can imagine the poor USD data at the end of the week has me in great form for this weekend. I am of course being 110% sarcastic. The poor USD killed my open trades, I now reckon I will require either one unbelievable day of USD strength or alternatively a bit of momentum trading over a few days to bring all of my broker accounts in line.\r\n\r\nJoking apart; with USD data so poor (GDP, PCE etc.) and with a FED stating that increases in rates are “Data Dependent”, next weeks job data releases need to be blowout numbers for a December rate hike… or do they? I have a contrarian view on this later in the blog.\r\n\r\n&nbsp;\r\n\r\n1.2: LOOKING FORWARD:\r\n\r\nMAJOR FOREX NEWS THIS WEEK THAT INTERESTS ME:\r\n(There are many more news items related to the Forex Market other than the ones listed below. These are the ones that interest me. You can go to <a href=\"http://www.forexfactory.com\">www.forexfactory.com</a> and <a href=\"http://www.tradingeconomics.com\">www.tradingeconomics.com</a> for a more comprehensive lists of all news events that are Forex related).\r\nSUNDAY: AUD – Building Approvals.\r\nSUNDAY: CNY – Manufacturing PMi.\r\n\r\nMONDAY: GBP – Manufacturing PMi.\r\nMONDAY: USD – ISM Manufacturing PMi.\r\nMONDAY: AUD – RBA Rate Statement and Cash Rate.\r\n\r\nTUESDAY: GBP – Construction PMi.\r\nTUESDAY: NZD – Dairy Prices.\r\nTUESDAY: EUR – Words of wisdom from Mario Draghi (ECB).\r\nTUESDAY: NZD – Employment Data.\r\nTUESDAY: AUD – Retail Sales.\r\nTUESDAY: AUD – Trade Balance.\r\n\r\nWEDNESDAY: EUR – Words of wisdom from Mario Draghi (ECB).\r\nWEDNESDAY: GBP – Services PMi.\r\nWEDNESDAY: USD – ADP Non Farm Payrolls.\r\nWEDNESDAY: USD – Trade Balance.\r\nWEDNESDAY: CAD – Trade Balance.\r\nWEDNESDAY: USD – Janet Yellen Testifies (FED).\r\nWEDNESDAY: USD – ISM Non-Manufacturing PMi.\r\nWEDNESDAY: AUD – Words of wisdom from Glenn Stevens (RBA).\r\n\r\nTHURSDAY: EUR – Words of wisdom from Mario Draghi (ECB).\r\nTHURSDAY: GBP – BOE Inflation report.\r\nTHURSDAY: GBP – BOE Official Bank Rate.\r\nTHURSDAY: GBP – Words of wisdom from Mark Carney (BOE).\r\nTHURSDAY: AUD – RBA Monetary Policy Statement.\r\n\r\nFRIDAY: CAD – Employment Change and Unemployment Rate.\r\nFRIDAY: USD – Non-Farm Employment Data.\r\n\r\n&nbsp;\r\n\r\nMY THOUGHTS ON THE NEWS ITEMS THIS COMING WEEK:\r\n\r\nThe first thing that comes to mind looking at my list above is “yikes no sleep”.\r\n\r\nThis week is about prioritizing time. It is a heavy week on key data and I am not saying that you need to be around for it all, but everything seems to inter-connect more than ever.\r\n\r\nMy key trades at the moment involve the following pairs: - EUR/USD, USD/CHF, NZD/USD, EUR/GBP, EUR/CHF and EUR/NZD.\r\n\r\nBasically, I am screwed!\r\n\r\nU.S., European, China and Antipodean data is all-relevant to my open trades. It looks like I am not going to get much sleep at all.\r\n\r\nThe standouts are obviously, the BOE Inflation report and U.S. Non-Farm Payrolls at the end of the week. The Central bank speeches sometimes flatter to deceive but they are important to follow as well in my opinion.\r\n\r\nLooking at it all, to be honest it is another pivotal week for data.\r\n\r\nFor me, my longer-term trading strategy will be provided with more macro and micro economic data this week to place in my melting pot of trade ideas.\r\n\r\nThere will be a lot of information this coming week for us to store and take into consideration to help formulate plans and strategies moving forward. It will be a tiring week - of that there is no doubt.\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\nMY KEY SUPPORT &amp; RESISTANCE LEVELS THIS WEEK FOR USD MAJORS<strong>:\r\n</strong>In this section I have as usual kept my charts as minimalist as possible. All readers regardless of level of experience should be able to follow my thoughts from my comments to the levels on the charts with ease.\r\n\r\nAll of my thoughts, ideas and relevant comments are contained on the charts.\r\n\r\n&nbsp;\r\n\r\nEUR/USD - Weekly Closing Price: 1.1005\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/10/EURUSD-W-31102015.png\"><img class=\"aligncenter size-large wp-image-6709\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/10/EURUSD-W-31102015-1024x514.png\" alt=\"EURUSD W 31102015\" width=\"1024\" height=\"514\" /></a>\r\n\r\n&nbsp;\r\n\r\nGBP/USD - Weekly Closing Price: 1.5429\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/10/GBPUSD-D-31102015.png\"><img class=\"aligncenter size-large wp-image-6708\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/10/GBPUSD-D-31102015-1024x514.png\" alt=\"GBPUSD D 31102015\" width=\"1024\" height=\"514\" /></a>\r\n\r\n&nbsp;\r\n\r\nAUD/USD - Weekly Closing Price: 0.7137\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/10/AUDUSD-D-31102015.png\"><img class=\"aligncenter size-large wp-image-6710\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/10/AUDUSD-D-31102015-1024x514.png\" alt=\"AUDUSD D 31102015\" width=\"1024\" height=\"514\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\nNZD/USD - Weekly Closing Price: 0.6775\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/10/NZDUSD-D-31102015.png\"><img class=\"aligncenter size-large wp-image-6707\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/10/NZDUSD-D-31102015-1024x514.png\" alt=\"NZDUSD D 31102015\" width=\"1024\" height=\"514\" /></a>\r\n\r\n&nbsp;\r\n\r\nUSD/CAD - Weekly Closing Price: 1.3071\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/10/USDCAD-D-31102015.png\"><img class=\"aligncenter size-large wp-image-6706\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/10/USDCAD-D-31102015-1024x514.png\" alt=\"USDCAD D 31102015\" width=\"1024\" height=\"514\" /></a>\r\n\r\n&nbsp;\r\n\r\nUSD/CHF - Weekly Closing Price: 0.9881\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/10/USDCHF-D-31102015.png\"><img class=\"aligncenter size-large wp-image-6705\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/10/USDCHF-D-31102015-1024x514.png\" alt=\"USDCHF D 31102015\" width=\"1024\" height=\"514\" /></a>\r\n\r\n&nbsp;\r\n\r\nUSD/JPY - Weekly Closing Price: 120.62\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/10/USDJPY-D-31102015.png\"><img class=\"aligncenter size-large wp-image-6704\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/10/USDJPY-D-31102015-1024x514.png\" alt=\"USDJPY D 31102015\" width=\"1024\" height=\"514\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n1.3: LOOKING SIDEWAYS (FOR GOOD MEASURE):\r\n\r\nI have a trading pitfall at the moment.\r\n\r\nI am not perfect (my wife will also verify this point).\r\n\r\nIf you were trading last Friday as the London equity markets were closing at noon (EST), you would have been aware of what can only be described as the most violent closing fix / flows I think that we have seen for months, definitely the wildest ride this year without a shadow of a doubt. The fact that last Friday was the last day of the month just exacerbated the end of month flows.\r\n\r\nWhat has this highlighted?\r\n\r\nIt makes me look at my stop placement more and more.\r\n\r\nI am guilty of not placing my stops in line with my RISK TOLERANCE levels within my TRADE PLAN. I am not sure but it must be something psychological within me that like’s to have a tolerance level behind the initial level of the stop that is placed when the trade is entered into.\r\n\r\nPsychological or not, it creates additional stress and this manifested itself around the London fix last Friday.\r\n\r\nI wanted to take advantage of the “Fix” extremes by adding additional trades but I had to initially deal with my USD/CHF long trades, which were moving closer to my stop loss levels and required attention. This cost me about 20 pips on the EUR/USD and USD/CHF new trades that I wanted to enter as I spent time adjusting the stops on the existing open trades.\r\n\r\nI know reading this it looks stupid. Why not just set your stop at the right level from the moment the trade is active? I know… the psychology of trading is something that we all deal with in different ways. Being a Forex Trader there is so much to consider and be aware of to make your daily routine easier.\r\n\r\nThis may seem a little crazy to write about, but from a psychological viewpoint identifying this as a trading issue and writing about it will hopefully help.\r\n\r\nThe fact that I was “pratting” around moving stops and tweeting this to my subscribers when I could have started new trades at better prices hit a nerve!\r\n\r\n&nbsp;\r\n\r\n<strong> </strong>\r\n<ol start=\"2\">\r\n	<li><strong> WHAT’S ON MY MIND:</strong><strong> </strong></li>\r\n</ol>\r\n<p style=\"text-align: center;\"><strong>FOR THE FED - IT’S ALL ABOUT CREDIBILITY NOW….</strong></p>\r\nThe FED under Janet Yellen is so cautious, how does this woman as a pedestrian ever cross a street?\r\n\r\nThere are risks to everything in life. However, I keep returning to the one fact that continues to haunt me over and over again. After 7 years of zero interest rates; if the biggest economy in the world cannot even raise rates by 0.10% WTF! For months, the FOMC has dithered. If the U.S. economy is that damn fragile, the FOMC should be held accountable for mismanagement and fired after 7 years of basically having a free-reign.\r\n\r\nHow long ago did tapering end?\r\n\r\nIf you cannot remember it was just over a year ago in October 2014. Ben Bernanke announced then that normalization in monetary FED policy would return sooner rather than later.\r\n\r\nWell… here we are 12 months later “Helicopter Ben” has been replaced by “Dithering Janet”.\r\n\r\nFour words stood out from the FED statement last Wednesday for most analysts, which were - “At the next meeting”.\r\n\r\nPersonally, I think it’s going to take a recession to stop a rate hike in December.\r\n\r\nI know that many of you think that I love placing my balls on the chopping block time after time with some of my views, but in this particular instance, my balls are on the chopping block because I really think it’s all about FED credibility.\r\n\r\nIf you are a regular reader you will know that I think that just prior to the summer the FOMC should have lifted off, then in September I thought it better late than never. I was astonished that they did not raise rates last month. I said and stick with it…. it was dithering.\r\n\r\nNow the FOMC is at the last station on the line before the terminus.\r\n\r\nThe FOMC said that they would raise rates in 2015, they keep talking about data dependency, but they have moved goal posts this year regarding data dependency. They threw in a red herring about the world economic position in the September policy statement and ensuing Press Conference, to justify no rate increase in September.\r\n\r\nThen last week the world economic slowdown and other world economics are all of a sudden not that important anymore. This equates to classic dithering in my opinion.\r\n\r\nIf the FOMC does not raise rates this year they will lose credibility as far as the markets are concerned. Everything they say from now on will be taken with a pinch of salt. They will NOT be believed.\r\n\r\nIn my opinion, it is going to take a massive world event, or the worst ever set of job numbers in the history of the U.S. to prevent a rate increase in December.\r\n\r\nAll the consumer data should show increases after Thanksgiving. The seasonality effect of most sales numbers, which will be paired back because of a slowdown in the run up to the final quarter, will come in, in line or slightly better. There will be a massive amount of part-time hires from now through the holiday season if the FOMC cannot muster a 0.25% rate increase she will at least have to sanction 0.10% with a note of more to come in 2016.\r\n\r\nWe are talking about the biggest economy in the world. It is now over 12 months since we were advised that FED monetary policy was changing and normalization was returning.\r\n\r\nI ask you…\r\n\r\nHow many times do we have to hear the word “Transitory?”\r\n\r\nWe have had 12 months of transitory. The issues that cause concern each meeting cannot remain transitory for a year; by now they must be permanent one must have thought.\r\n\r\nI know I am somewhat alone with these thoughts, as most views are looking further down the line, to possibly the first quarter in 2016 before a rate increase would take place. Time will tell if my thoughts resonate with the FOMC and whether or not credibility with the markets is important to them.\r\n\r\nI really do believe that Janet Yellen regrets not raising rates in September. This uncertainty and market volatility that we see is pure and simply self-inflicted upon us by the FED.\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n<ol start=\"3\">\r\n	<li><strong> THE PREMIUM SERVICE:\r\n</strong></li>\r\n</ol>\r\n3.1: SUMMARY OF YEAR TO DATE PERFORMANCE - 2015:\r\n<p style=\"text-align: center;\">PREMIUM SERVICE – COST INCOME ANALYSIS (USD):</p>\r\n<p style=\"text-align: center;\">PROFITS FROM TRADE SET-UPS – to October 31st 2015.\r\n(The profit levels below are based on single lot trades only)</p>\r\n<p style=\"text-align: center;\">MICRO LOT TRADER - 576 trades cost to trade = $57.60\r\n<strong>PROFIT</strong> from 576 trades = <strong>$985.80</strong></p>\r\n<p style=\"text-align: center;\">MINI LOT TRADER - 576 trades cost to trade = $576.00\r\n<strong>PROFIT</strong> from 576 trades = <strong>$9,858.00</strong></p>\r\n<p style=\"text-align: center;\">STANDARD LOT TRADER - 576 trades cost to trade = $5,760.00\r\n<strong>PROFIT</strong> from 576 trades = <strong>$98,580.00</strong></p>\r\n&nbsp;\r\n\r\n3.2: PREMIUM SERVICE – TRADE SUMMARIES THIS MONTH:\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/10/RADAR1-31102105.png\"><img class=\"aligncenter size-full wp-image-6695\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/10/RADAR1-31102105.png\" alt=\"RADAR1 31102105\" width=\"507\" height=\"542\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/10/RADAR2-31102015.png\"><img class=\"aligncenter size-full wp-image-6696\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/10/RADAR2-31102015.png\" alt=\"RADAR2 31102015\" width=\"487\" height=\"551\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/10/RADAR-YTD-31102015.png\"><img class=\"aligncenter size-full wp-image-6711\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/10/RADAR-YTD-31102015.png\" alt=\"RADAR YTD 31102015\" width=\"426\" height=\"445\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/10/FLASH1-31102015.png\"><img class=\"aligncenter size-full wp-image-6697\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/10/FLASH1-31102015.png\" alt=\"FLASH1 31102015\" width=\"474\" height=\"543\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/10/FLASH2-31102015.png\"><img class=\"aligncenter size-full wp-image-6698\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/10/FLASH2-31102015.png\" alt=\"FLASH2 31102015\" width=\"498\" height=\"542\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/10/FLASH-YTD-31102015.png\"><img class=\"aligncenter size-full wp-image-6712\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/10/FLASH-YTD-31102015.png\" alt=\"FLASH YTD 31102015\" width=\"420\" height=\"449\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/10/FUNDAMENTAL-31102015.png\"><img class=\"aligncenter size-full wp-image-6699\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/10/FUNDAMENTAL-31102015.png\" alt=\"FUNDAMENTAL 31102015\" width=\"513\" height=\"549\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/10/FUN-YTD-31102105.png\"><img class=\"aligncenter size-full wp-image-6713\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/10/FUN-YTD-31102105.png\" alt=\"FUN YTD 31102105\" width=\"415\" height=\"442\" /></a>\r\n\r\n&nbsp;\r\n\r\n3.3: PREMIUM SERVICE – 2015 PERFORMANCE TO DATE:\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/10/PS-PROFITS1-31102105.png\"><img class=\"aligncenter size-full wp-image-6693\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/10/PS-PROFITS1-31102105.png\" alt=\"PS PROFITS1 31102105\" width=\"527\" height=\"420\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/10/PREM-SERV-PROFITS2-31102105.png\"><img class=\"aligncenter size-full wp-image-6721\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/10/PREM-SERV-PROFITS2-31102105.png\" alt=\"PREM SERV PROFITS2 31102105\" width=\"520\" height=\"425\" /></a>\r\n\r\nNOTES:\r\n<ul>\r\n	<li>If the above return from Forex Trading interests you go to my website landing page at <a href=\"http://www.weeklyfxdrivethru.com\">weeklyfxdrivethru.com</a> and check out the subscription options and special promotions under the tabs “PREMIUM SERVICE” and “PROMOTIONS”</li>\r\n	<li>If you want more data about the performance and my website does not answer your questions, contact me direct and I will supply the data you require.</li>\r\n	<li>THE PREMIUM SERVICE has subscribers with broker accounts of sizes ranging from $2,500 to over $100,000. A profitable trade is a profitable trade. It is all about trading according to the size of your broker account (EFFECTIVE POSITION SIZING) and applying RISK MANAGEMENT principles at all times.</li>\r\n</ul>\r\n<strong> </strong>\r\n\r\n&nbsp;\r\n<ol start=\"4\">\r\n	<li><strong> PREMIUM SERVICE (GOLD) SUBSCRIBER CONTENT:\r\n</strong>(The following section is additional data, thoughts, and ideas exclusively for PREMIUM SERVICE (GOLD) subscribers)</li>\r\n</ol>\r\n4.1: THE PREMIUM SERVICE – TRADING REVIEW:\r\n(A look back at the past week’s highs and lows from trades undertaken):\r\n\r\nIt was I suppose a good week last week from a trading perspective. Sure, there were things I may have done a little differently and trades I may not have entered at the time I did, but hindsight is just fantastic.\r\n\r\nWe ended last week carrying forward 7 open trades all with negative balances. After the squeeze from hell on Friday last week, I thought that the balances being carried forward would have been a lot worse than they were at the close. I feel very comfortable with all trades moving forward except two trades. The NZD/USD and EUR/NZD really moved against me and never pulled back like the other trades. My longer-term view is that these trades are in the right direction, but they just need time to develop. Patience will be required with these two trades moving forward and with China data being the first out of the blocks this coming week lets hope the data misses the objective that the market is looking for. Somehow I expect an “in line” or “slight beat”!\r\n\r\nIn general terms following the ECB press conference and the FED statement, apart from Fridays squeeze we have witnesses consolidation and what can only be termed a bit of a back fill on a few pairs following some quite over-cooked, over-done moves. This can happen, it doesn\'t always but when it does a re-test of a breakdown level can confirm the move, From my perspective this is a good thing as it means that the controlling traders whether they be bears or bulls are confirmed as being in the driving seat.\r\n\r\nMoving forward into this week, I have a few charts that are worthy of a re-visit. Whether or not these pairs are traded this week is debatable given the amount of news on the horizon.\r\n\r\nCompared to 2014 the month yielded just over 300 pips less than the corresponding month last year. The success/failure rate on trades in October was a remarkable 92% profitable trades to 8% losing trades. To say that I am happy with that statistic is an understatement.\r\n\r\nMy initial objectives of $1,000.00 profit from a single lot for micro lot trades, $10,000.00 for single lot mini lot trades and $100,000.00 for single lot standard lot trades looks to be an achievable goal for this year. I am, not so certain that I will pass last years totals but it should be close. This year has been a much harder trading environment to work within.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/10/PS-PROFIT-LOSS-31102105.png\"><img class=\"aligncenter size-full wp-image-6703\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/10/PS-PROFIT-LOSS-31102105.png\" alt=\"PS PROFIT-LOSS 31102105\" width=\"405\" height=\"568\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/10/PS-RISK-REWARD-31102015.png\"><img class=\"aligncenter size-full wp-image-6700\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/10/PS-RISK-REWARD-31102015.png\" alt=\"PS RISK REWARD 31102015\" width=\"414\" height=\"520\" /></a>\r\n\r\n&nbsp;\r\n\r\n4.1.2: REVISIONS TO TRADE STYLE DEFINITIONS:\r\n\r\nAs I am now adding what I hope to be longer-term trades based upon “Divergent Central bank Policy” to the PREMIUM SERVICE, I think it is time to re-address the trade styles.\r\n\r\nA couple of you wanted to add a 4<sup>th</sup> trade style to cover these new trades. Instead of doing this I think its easier just to simplify what is there at the moment as follows: -\r\n\r\n<span style=\"text-decoration: underline;\">FLASH TRADES:</span>\r\nOpportunist trades in LIVE market conditions. These trades are either based off a pullback strategy, a GIMME10 strategy, or off momentum in a trading pair at the time of entry.The goal is either take 10-30 pips or see a sufficient move to place a protective stop in place to see if a swing trade develops. Some FLASH TRADES may form part of an overall trading plan with a given currency pair, but the entry could not be made via a LIMIT ORDER.\r\n\r\n<span style=\"text-decoration: underline;\">RADAR TRADES:</span>\r\nThese a pre-meditated entry trades set from either Fibonacci levels, pivot points or previous support and resistance based off a combination of horizontal or trend line support or resistance.\r\nThe goal is always if possible to swing trade these trades by establishing a position that if market conditions apply allow the trade to gather traction and develop into a longer-term position trade.\r\n\r\n<span style=\"text-decoration: underline;\">FUNDAMENTAL TRADES:</span>\r\nThese will be trades based off my TRADING PLAN goals for trades in line with my longer-term market views.\r\nTrades in this area will use in addition Fibonacci levels, Pivot points, trend lines and prior support and resistance levels, weekly and monthly ATR’s (Average True Ranges) when setting Stop Loss levels. These trades are hopefully of a longer-term nature. They will be initially “single-lot” sized trades due to the wider stop placements that will be applied.\r\n\r\n&nbsp;\r\n\r\n4.1.3: TRADES BASED ON DIVERGENT CENTRAL BANK POLICY:\r\n\r\nI mentioned earlier this week on twitter that I was going to post my CENTRAL BANK DIVERGENCE TRADES in this blog.\r\n\r\nThe trades are listed in the LIMIT ORDER spreadsheet that is in this section under reference 4.4. In this section there are also copies of the charts relating to the trades. I will post these set ups and the charts once again as soon as I have copied these trade set-ups into my various broker accounts.\r\n\r\n<strong>NOTE: These trades are NOT yet lodged with my broker when they are you will be advised by email and twitter.</strong>\r\n\r\nPlease bear in mind these are from my perspective single lot trades that had positions added to them as they hopefully gain traction. I will report on these separate to other trades that may involve the same currency pair. These trades are intended for the very long term. If this is something that suits your style of trading everything should be good. However, if you are not a longer-term trader this may not be your cup of tea.\r\n\r\nA few subscribers have expressed the idea that these trades be listed under a new trade style to keep them separate. I hope that I have addressed this point fully already. Keeping these trades separate from the rest for reporting on and measuring performance is something that I will be doing. I will place them with a separate broker account specifically for this purpose. All trades are initially single lot trades. You can trade whatever trade size you like but just be aware of the stop loss distances could vary from 50 to 750 pips or so you need to be aware of this fact when sizing your trades and assessing the risks involved.\r\n\r\nIn the years 2013 and 2014, I maintained a broker account specifically for trading with a single lot trade size mirror imaging the PREMIUM SERVICE trades. It was a great discipline and great to follow.\r\n\r\nThis year due to regulatory requirements in Quebec, I have lost a couple of my broker accounts around the summertime because they would not provide a platform with a French option and therefore they had to withdraw from the Quebec marketplace. As a result of this, I had to re-assign my trades into new platforms trades were cut short etc.\r\n\r\nIf you want to keep these trades separate from other trades open up a fresh broker account. If you use for example BLACKWELL GLOBAL from their banner on my website you will receive a TRADING / MARKETING bonus\r\n\r\nI have been asked to briefly overview the size of trading accounts required based on the types of lots traded, to give my thoughts to trade just these trades in isolation away from our trades.\r\n\r\nThis is not an exact science but I have used the initial 6 trades as a benchmark. There are no guarantees that these trades will actually trigger to live accounts but I had to start somewhere, as I am sure you will appreciate.\r\n\r\nThe following is based on the worse case scenario of all trades failing to make a profit plus only 50% of the potential profits being achieved and only based off single lot trading.\r\n\r\nBased on averages off the initial 6 trade set ups selected:\r\n(Obviously addition trades = additional RISK = additional margin requirements to be added / factored into the numbers)\r\n\r\nTotal Stop Loss RISK:                                                    1,915\r\n\r\nMicro Lot Trading                                                          $191.50\r\nMini Lot Trading                                                             $1,915.00\r\nStandard Lot Trading                                                    $19,150.00\r\n\r\nMy suggested broker account size\r\nPersonally I always double the account\r\nbalance versus the risk to have a more\r\nthan a minimum margin in emergencies,\r\ntherefore based on RISK alone these are\r\nthe limits based upon the six initial trades\r\n\r\nMinimum Micro lot trades sized account:             $400.00 (Minimum sized account with BLACKWELL GLOBAL $500.00)\r\nMinimum Mini lot traded sized account:              $4,000.00\r\nMinimum Standard lot traded sized account:      $40,000.00\r\n\r\nBalanced with the Potential gains:\r\nAverage trade potential by pips:                              8,065\r\n\r\nAssumptions:\r\nTrades only run for 50% of the\r\ninitial projected length and no\r\nadditional trades are added\r\nProjected pip gain now:                                           4,000\r\n\r\nPotential Profits could be off a 50% profit\r\nobjective achieved:\r\n\r\nMicro lot trades sized account:\r\n(4,000 x $0.10)                                                         $400.00\r\n\r\nMini lot traded sized account:\r\n(4,000 x $1.00)                                                         $4,000.00\r\n\r\nStandard lot traded sized account:\r\n(4,000 x $10.00)                                                       $40,000.00\r\n\r\n&nbsp;\r\n\r\nBased on a 50% profit target achieved as an average this has the potential to return from 2:1 to as high as a 4:1 risk-reward ratio if all trades run their projected distance, and there is potential for more.\r\n\r\nRemember, the above is based off a single lot being traded for each suggested set-up. There is no allowance for multiple lots as this is down entirely to your own RISK PARAMETERS and RISK TOLERANCES based upon the size of your broker account.\r\n\r\nI hope that the above section is straightforward to understand and that it answers more questions than it creates. If you have queries about this let me know.\r\n\r\n&nbsp;\r\n\r\n4.2: MAJOR TRADING PAIRS WITH LONGER-TERM MATCHING TRENDS:\r\n(The 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&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/10/PS-TRENDING-PAIRS-31102105.png\"><img class=\"aligncenter size-full wp-image-6701\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/10/PS-TRENDING-PAIRS-31102105.png\" alt=\"PS TRENDING PAIRS 31102105\" width=\"486\" height=\"621\" /></a>\r\n\r\n&nbsp;\r\n\r\n4.3: THE PREMIUM SERVICE - LIVE TRADES ARE:\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/10/PS-LIVE-TRADES-31102015.png\"><img class=\"aligncenter size-full wp-image-6702\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/10/PS-LIVE-TRADES-31102015.png\" alt=\"PS LIVE TRADES 31102015\" width=\"700\" height=\"553\" /></a>\r\n\r\n&nbsp;\r\n\r\n4.4: THE PREMIUM SERVICE – LIMIT ORDER TRADES ARE:\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/10/PS-LIMIT-ORDERS-31102105.png\"><img class=\"aligncenter size-full wp-image-6724\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/10/PS-LIMIT-ORDERS-31102105.png\" alt=\"PS LIMIT ORDERS 31102105\" width=\"685\" height=\"430\" /></a>\r\n\r\n&nbsp;\r\n\r\nBelow are the charts relating to these initial DIVERGENT MONETARY POLICY TRADES\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/10/FUN187-WEEKLY-EURUSD-31102015.png\"><img class=\"aligncenter size-large wp-image-6730\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/10/FUN187-WEEKLY-EURUSD-31102015-1024x514.png\" alt=\"FUN187 WEEKLY EURUSD 31102015\" width=\"1024\" height=\"514\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/10/FUN188-USDCHF-MONTHLY-31102015.png\"><img class=\"aligncenter size-large wp-image-6729\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/10/FUN188-USDCHF-MONTHLY-31102015-1024x514.png\" alt=\"FUN188 USDCHF MONTHLY 31102015\" width=\"1024\" height=\"514\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/10/FUN189-EURGBP-DAILY-31102015.png\"><img class=\"aligncenter size-large wp-image-6728\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/10/FUN189-EURGBP-DAILY-31102015-1024x514.png\" alt=\"FUN189 EURGBP DAILY 31102015\" width=\"1024\" height=\"514\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/10/FUN190-DAILY-AUDCHF-31102015.png\"><img class=\"aligncenter size-large wp-image-6727\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/10/FUN190-DAILY-AUDCHF-31102015-1024x514.png\" alt=\"FUN190 DAILY AUDCHF 31102015\" width=\"1024\" height=\"514\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/10/FUN191-USDCAD-WEEKLY-31102015.png\"><img class=\"aligncenter size-large wp-image-6726\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/10/FUN191-USDCAD-WEEKLY-31102015-1024x514.png\" alt=\"FUN191 USDCAD WEEKLY 31102015\" width=\"1024\" height=\"514\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/10/FUN192-NZDUSD-MONTHLY-31102015.png\"><img class=\"aligncenter size-large wp-image-6731\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/10/FUN192-NZDUSD-MONTHLY-31102015-1024x514.png\" alt=\"FUN192 NZDUSD MONTHLY 31102015\" width=\"1024\" height=\"514\" /></a>\r\n\r\n&nbsp;\r\n\r\n4.5: POTENTIAL TRADES - WHAT PAIRS / CHARTS AM I LOOKING AT:\r\n\r\nIn addition to those in the section above that meet my criteria for a longer-term FUNDAMENTAL TRADE the following charts reflect those that have caught my eye. All of my thoughts and views are contained on the charts.\r\n\r\n<strong><a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/10/EURJPY-W-31102015.png\"><img class=\"aligncenter size-large wp-image-6734\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/10/EURJPY-W-31102015-1024x514.png\" alt=\"EURJPY W 31102015\" width=\"1024\" height=\"514\" /></a> </strong>\r\n\r\n<strong> </strong>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/10/GBPCHF-DAILY-31102015.png\"><img class=\"aligncenter size-large wp-image-6733\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/10/GBPCHF-DAILY-31102015-1024x514.png\" alt=\"GBPCHF DAILY 31102015\" width=\"1024\" height=\"514\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/10/GBPNZD-DAILY-31102015.png\"><img class=\"aligncenter size-large wp-image-6732\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/10/GBPNZD-DAILY-31102015-1024x514.png\" alt=\"GBPNZD DAILY 31102015\" width=\"1024\" height=\"514\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n<ol start=\"5\">\r\n	<li><strong>MY FINAL THOUGHTS:</strong></li>\r\n</ol>\r\nOVERVIEW OF TRADING TIPS &amp; THOUGHTS FOR THE WEEK AHEAD:\r\n\r\nThis should be one hell of a week. There is so much on the agenda, as mentioned earlier in the blog that finding time to sleep will be a challenge.\r\n\r\nThis will be a pivotal week for gaining the knowledge on how to move forward with our macro level trade plans. Because there are so many economic news events from the four corners of the globe, if ever there was a time to trade with wider stops and smaller position sizes this would be it.\r\n\r\nThe chances of seeing false moves given all the data is higher than normal and one does NOT want to be trapped the wrong side because an oversized trade was entered into at the wrong time.\r\n\r\nRemain keen but trade lean…is the motto this week.\r\n\r\nTake care and enjoy,\r\n\r\nScott Pickering\r\nThe Pip Accumulator\r\nhttps://weeklyfxdrivethru.com/disclaimer/','FOR THE FED - IT’S ALL ABOUT CREDIBILTY NOW….','','inherit','closed','closed','','6735-revision-v1','','','2015-10-31 16:20:07','2015-10-31 21:20:07','',6735,'https://weeklyfxdrivethru.com/6735-revision-v1/',0,'revision','',0),(6770,1,'2015-11-07 17:18:20','2015-11-07 22:18:20','<p style=\"text-align: center;\"><strong>THE PREMIUM SERVICE</strong>\r\n<strong>from the</strong>\r\n<strong>WEEKLY FX DRIVE THRU</strong>\r\n<strong>“The Home of Single Lot Trading”</strong></p>\r\n<strong> </strong>\r\n<ol>\r\n	<li><strong> THE VIEW FROM MY TRADE DESK:</strong></li>\r\n</ol>\r\nLOOKING BACKWARDS, FORWARDS &amp; SIDEWAYS (FOR GOOD MEASURE) AT THE FX MARKET:\r\n\r\n1.1: LOOKING BACKWARDS:\r\n\r\nWell that was a week as far as I am concerned, when the introduction of monetary policy divergence via the world’s major central banks was 95% confirmed. As I wrote last week, the NFP numbers released yesterday had to be an absolute disaster for the FED not to raise interest rates at next month\'s FOMC meeting in December.\r\n\r\nThe numbers were a blowout: -\r\n\r\n<strong>271,000 jobs versus consensus of 181,000</strong>\r\n<strong>Previous month revised up by 12,000.</strong>\r\n\r\n<strong>Unemployment Rate at 5% unchanged</strong>\r\n\r\n<strong>Average Hourly Earnings 0.4% consensus 0.2%</strong>\r\n\r\nAs a result, my divergent trading plan is now in full swing. I have added lots of potential trade set-ups for my subscribers into the Premium Service section of the blog and there are more set-ups to post early next week.\r\n\r\nThe USD is in HUGE breakout territory…see the chart below. In my opinion it is now time to buy the USD on dips.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/DXY-07112015.png\"><img class=\"aligncenter size-large wp-image-6753\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/DXY-07112015-1024x535.png\" alt=\"DXY 07112015\" width=\"1024\" height=\"535\" /></a>\r\n\r\n&nbsp;\r\n\r\nAs you can see in the weekly DXY (USD index) chart above the move higher in the USD was pretty spectacular and later in this blog if you compare chart movements on a weekly basis with the USD major pairs you will see there were moves of 250-300 pips and greater almost across the board. By any stretch of the imagination there is USD power back in the system, there are buyers of the greenback all over the place.\r\n\r\nBe aware though, we should see a period of consolidation as these powerful moves are absorbed and overbought / oversold conditions are worked off. I strongly suggest that you do not do an impression of my male Labrador “Ozzy” who, always jumps in feet first creating an explosion of chaos and disorder. Try to plan your moves, you should have the time. The initial set ups I will be suggesting have very ambitious entry levels. They may require a little bit of tinkering, and whilst I do not mind giving away 20-30 pips on an entry given the circumstances, a 70-90-pip giveaway is in my opinion not that clever. I will be taking my female Labrador\'s approach, “Aoife” who is far more cautious and in comparison to her brother “Ozzy” and does not dive in head first like a bull in a china shop.\r\n\r\nJust look at the charts, so many of the USD majors hit extreme Fibonacci levels and should pullback to re-test breakouts and work off these extreme conditions. But this does not mean that it will happen.\r\n\r\nAhead of the Fed I traded really light. I decided not to go full out with the AUD and NZD news. I just let the existing trades do their stuff and I banked $$$ when I could and closed out many trades just after the BOE “Super Thursday” and ahead of the NFP release. I kept my longer-term trades open into NFP, but decided to take profits on the EUR/USD, USD/CHF and GBP/NZD trades after the news event. Subsequently, I have re-entered these pairs on pullbacks or set up limit orders.\r\n\r\nI have written on many occasions that patience is a virtue with trading. It was very, very hard to keep my hands off the keyboard at times last week, in hindsight, which of course is just a wonderful thing, I probably could have traded a bit more but staying low is a really good discipline at times.\r\n\r\nTo recap, everything now as far as I am concerned is based around solid chart analysis moving forward. The great news is, even if you are bit hit and miss, we are directionally set up, and as such, with entry levels, whilst we always strive to have them a perfect as possible (which is a great discipline), you will not need to be spot on, even those of you who are not 100% confident can be 20-30 pips out on entries in my opinion, as directional moves are about to set in and there should be hundreds, if not thousands of pips available for us to trade with.\r\n\r\n&nbsp;\r\n\r\n1.2: LOOKING FORWARD:\r\n\r\nMAJOR FOREX NEWS THIS WEEK THAT INTERESTS ME:\r\n\r\n(There are many more news items related to the Forex Market other than the ones listed below. These are the ones that interest me. You can go to <a href=\"http://www.forexfactory.com\">www.forexfactory.com</a> and <a href=\"http://www.tradingeconomics.com\">www.tradingeconomics.com</a> for a more comprehensive lists of all news events that are Forex related).\r\nSUNDAY: N/A.\r\n\r\nMONDAY: AUD – NAB Business Confidence.\r\nMONDAY: CNY - CPi.\r\n\r\nTUESDAY: GBP – Inflation Report Hearings.\r\nTUESDAY: NZD – RBNZ financial Stability Report.\r\n\r\nWEDNESDAY: GBP – Jobs Data &amp; words of wisdom from Mark Carney (BOE).\r\nWEDNESDAY: AUD – Jobs Data.\r\n\r\nTHURSDAY: N/A.\r\n\r\nFRIDAY: EUR – German GDP.\r\nFRIDAY: USD – Core Retail Sales and PPi plus UOM Consumer Sentiment.\r\n\r\n&nbsp;\r\n\r\nMY THOUGHTS ON THE NEWS ITEMS THIS COMING WEEK:\r\n\r\nIn comparison to the last two weeks, this coming week is a great deal lighter on economic news data releases.\r\n\r\nThe one item that is not listed above will be all the “FED speak” and the appearance of “EUR numpties” that will emerge from under rocks being dragged onto our TV screens to give as much conflicting news as possible to ensure that they get their 30 second sound-bytes.\r\n\r\nWe have to be aware of this fact, but remember only Janet Yellen’s comments count in the U.S. and Mario Draghi’s in the Eurozone.\r\n\r\nThe likes of CNBC and BLOOMBERG will be looking at the potential targets of USD strength to make as much noise as possible about the pitfalls of a rate hike by the FED. It is not about reporting news nowadays; it’s about trying to make news. The FED sets out monetary policy; it is NOT set by analysis on CNBC or BLOOMBERG. Ben Bernanke announced the change in FED policy last year when tapering completed, we are now at step 2, moving forward with interest rate normalization.\r\n\r\nTherefore, I see commentary and equities driving the Forex Markets this week more than the economic data releases and we should bear in mind that because we are light on USD data in particular, there really is nothing much that could stop the USD from strengthening further.\r\n\r\nHaving just written that please note my thoughts on jumping in too fast as we should in my opinion, see a period of consolidation. Lots of the USD major pairs hit extreme levels that need to be worked off. However, there are no guarantees that the USD will stop when the Asian markets open, it may need Asian traders to flush out their trades after NFP first. The USD should confirm the big move, at this stage these will be the best prices to enter with your trades, the issue is always nobody tells you.\r\n\r\nTherefore, we have to be both patient and ready at the same time!\r\n\r\n&nbsp;\r\n\r\nMY KEY SUPPORT &amp; RESISTANCE LEVELS THIS WEEK FOR USD MAJORS<strong>:</strong>\r\n\r\nIn this section I have as usual kept my charts as minimalist as possible. All readers regardless of level of experience should be able to follow my thoughts from my comments to the levels on the charts with ease.\r\n\r\nAll of my thoughts, ideas and relevant comments are contained on the charts.\r\n\r\n&nbsp;\r\n\r\nEUR/USD - Weekly Closing Price: 1.0745\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/EURUSD-W-07112015.png\"><img class=\"aligncenter size-large wp-image-6755\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/EURUSD-W-07112015-1024x514.png\" alt=\"EURUSD W 07112015\" width=\"1024\" height=\"514\" /></a>\r\n\r\n&nbsp;\r\n\r\nGBP/USD - Weekly Closing Price: 1.5050\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/GBPUSD-W-07112015.png\"><img class=\"aligncenter size-large wp-image-6756\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/GBPUSD-W-07112015-1024x514.png\" alt=\"GBPUSD W 07112015\" width=\"1024\" height=\"514\" /></a>\r\n\r\n&nbsp;\r\n\r\nAUD/USD - Weekly Closing Price: 0.7048\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/AUDUSD-D-07112015.png\"><img class=\"aligncenter size-large wp-image-6754\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/AUDUSD-D-07112015-1024x514.png\" alt=\"AUDUSD D 07112015\" width=\"1024\" height=\"514\" /></a>\r\n\r\n&nbsp;\r\n\r\nNZD/USD - Weekly Closing Price: 0.6523\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/NZDUSD-D-07112015.png\"><img class=\"aligncenter size-large wp-image-6757\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/NZDUSD-D-07112015-1024x514.png\" alt=\"NZDUSD D 07112015\" width=\"1024\" height=\"514\" /></a>\r\n\r\n&nbsp;\r\n\r\nUSD/CAD - Weekly Closing Price: 1.3296\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/USDCAD-D-07112015.png\"><img class=\"aligncenter size-large wp-image-6758\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/USDCAD-D-07112015-1024x514.png\" alt=\"USDCAD D 07112015\" width=\"1024\" height=\"514\" /></a>\r\n\r\n&nbsp;\r\n\r\nUSD/CHF - Weekly Closing Price: 1.0059\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/USDCHF-W-07112015.png\"><img class=\"aligncenter size-large wp-image-6759\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/USDCHF-W-07112015-1024x514.png\" alt=\"USDCHF W 07112015\" width=\"1024\" height=\"514\" /></a>\r\n\r\n&nbsp;\r\n\r\nUSD/JPY - Weekly Closing Price: 123.19\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/USDJPY-W-07112015.png\"><img class=\"aligncenter size-large wp-image-6760\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/USDJPY-W-07112015-1024x514.png\" alt=\"USDJPY W 07112015\" width=\"1024\" height=\"514\" /></a>\r\n\r\n&nbsp;\r\n\r\n1.3: LOOKING SIDEWAYS (FOR GOOD MEASURE):\r\n\r\nOver the past week, I received a couple of communications from subscribers based around trade flexibility, basically stop loss placement.\r\n\r\nI sometimes feel that I have been saying this most of 2015, however more notably just before the summer and again in September when the FOMC missed opportunities to hike interest rates, I have been advising traders to trade smaller position sizes with wider stops.\r\n\r\nThe main reason for this was to give us as traders a greater opportunity to stay alive with trades rather than being stopped out in choppy market conditions. The uncertainty in the Forex markets driven in part, or maybe in whole, by Janet Yellen dithering made it at times a lottery to trade. Yes, there were opportunities, there always are in hindsight, but at the time FUNDAMENTALS and TECHNICALS counted for nothing as currency pairs were dragged beyond key levels of support and resistance causing numerous false breakouts and false breakdowns.\r\n\r\nMany novice traders were lured in, only to be the wrong side of the market and out of cash in loss situations very quickly as the false moves came back into trading ranges.\r\n\r\nWhen setting trades I use Fibonacci levels in conjunction with horizontal support and resistance levels and from these and other charting patterns I select high probability trades. I set my stop losses and limits using the same ideas.\r\n\r\nThis year has been a different year in the way that I have approached trading compared to 2014. In fact it all changed for me after Thomas Jordan (SNB) removed the EUR/CHF peg. The numerous short squeezes’ that followed in the ensuing couple of months from an upset market trying to adjust made me change. I took losses and I had to adjust.\r\n\r\nWhen entering trades I use smaller positions and this allows me greater flexibility. I know at the outset what my RISKS are, based on a full-size position, but I enter on a % of my full-size. This means I can move stop loss positions without fear of breaking my RISK MANAGEMENT levels from within my TRADE PLAN and should the trade turn profitable I can add to the core trade and then adjust my stops either based on the overall trade or treat each trade as an individual trade for RISK MANAGEMENT purposes.\r\n\r\nThis is a far more adaptable and flexible way to trade. Whilst it involves a little more account management of your trades the benefits more than outweigh the time involved checking and validating the adjustments required.\r\n\r\nIt involves my key word for 2015… PATIENCE.\r\n\r\n&nbsp;\r\n\r\n<strong> </strong>\r\n<ol start=\"2\">\r\n	<li><strong> WHAT’S ON MY MIND:</strong></li>\r\n</ol>\r\n<p style=\"text-align: center;\"><strong>IS IT JUST ME OR…</strong>\r\n<strong>DOES MARK CARNEY NEVER APPEAR TO GET IT RIGHT?</strong></p>\r\nI know I repeatedly give Mark Carney a hard time, but lets face facts he is a fecking muppet.\r\n\r\nHe has never delivered on anything since moving from the BOC in 2013, apart from bloody confusion.\r\n\r\nIf his job specification states he has to mislead markets, he would be earning a performance bonus. The fact is that this is not in his job profile. For over a year he has been bullshi****g markets about the state of the UK economy, which must be a nightmare for UK businesses.\r\n\r\nHe is just not credible anymore.\r\n\r\nI recall in the early summer of 2014, my wife and I were driving to Saratoga Springs for a few days R&amp;R, which coincided with Carney’s speech at the London Lord Mayor’s Mansion House dinner. Carney spoke about the state of the UK economy and talked about UK interest rates rising sooner rather later. Over the days that followed he talked down the comments made in his speech and sure enough UK economic data that followed was mixed and cold water was poured on the possibility of an interest rate increase. Obviously in the interim GBP related currency pairs were on fire.\r\n\r\nThis year he has on at least two occasions talked up the fact that the UK interest rates will increase. The most notable occasion was in July at Lincoln Cathedral where he made a major monetary policy speech. The markets just reacted as they do on hearing this, only once again to be disappointed when the economic data that followed showed a completely different picture than that spouted by Carney.\r\n\r\nIn fact at a gathering of central bankers, called BIFFOS (Big Ignorant Feckers Full Of Shite), which I think it was in South America somewhere, Carney even went out in public to say that the UK economy was in great shape and that he would even move rates ahead of the FED. Holy mother of God, in the name of all that is defined as sanity, who, would move ahead of the FED; at the same time maybe, but ahead of the FED?\r\n\r\nMark Carney just cannot be believed; all comments made by him should carry a serious Forex trader warning.\r\n\r\nBelow is a section from my pre BOE trade ideas/update that I sent to my premium service subscribers on 4<sup>th</sup> November 2015.\r\n<p style=\"text-align: center;\"><span style=\"color: #0000ff;\"><strong><em>THE BANK OF ENGLAND - INFLATION REPORT:</em></strong></span></p>\r\n<p style=\"text-align: center;\"><span style=\"color: #0000ff;\"><em>Tomorrow is a big BOE day. Carney will spin a few yarns no doubt about that but it is the INFLATION REPORT that always turns into the market mover. </em></span></p>\r\n<p style=\"text-align: center;\"><span style=\"color: #0000ff;\"><em>I remember a few years ago when the GBP/USD was just above 2.0000 and the then BOE governor Mervyn King painted the UK economy as it was, he pulled no punches and clearly stated where he thought it was going. The GBP/USD waterfalled lower in dramatic style. </em><em> </em></span></p>\r\n<p style=\"text-align: center;\"><span style=\"color: #0000ff;\"><em>This is an important data release and should not be underestimated with its impact.</em><em> </em></span></p>\r\n<em>Given \"The Carney\" effect I see no reason to expect anything other than a big GBP move.</em>\r\n\r\nWhen I wrote about the Carney effect, I really did not think he would have provided such a dovish statement, given that the markets were expecting a hawkish view.\r\n\r\nThe mere fact that Deputy governor Minouche Shafik defended questions stating that the BOE had been wrong-footing investors and households with its various signals on when interest rates may start to rise says it all as far as I am concerned.\r\n\r\nAll the forward guidance given by Carney has been a joke. Since 2013 after Carneys arrival from the BOC, he initially said that when unemployment reached 7% he would look at raising rates. The jobless number fell quite quickly; he pooped his pants and backtracked. Next it was the Oil price that prevented a rate rise.\r\n\r\nMaybe I have him wrong… maybe he is just a ditherer like Janet Yellen?\r\n\r\nSo, last Thursday what were the key points that he hit the markets with?\r\n<ol>\r\n	<li>The BOE MPC voted 8-1 to keep interest rates unchanged. (Ian McCafferty, the one man standing alone looking for a rate increase)</li>\r\n	<li>He stated that the BOE outlook for global growth has weakened since August. He blamed emerging market economies for that weakness, saying that growth in the emerging market regions had slowed markedly.</li>\r\n	<li>The bank expects inflation to rise above its 2% goal in two years. He went on to say that risks lie to the downside during the two-year period. What that means is that just like his predecessor Mervyn King he has NO control whatsoever over inflation growth and just cannot get the sustained growth required to achieve the 2% objective. Ever since I started trading Forex Merve “the swerve” King, never hit this objective and came up with so many “sick note” equivalents of excuses as to why. History is just repeating itself.</li>\r\n	<li>Rising interest rates are now delayed by 10 or 12 months to the end of 2016.</li>\r\n	<li>Yet, Carney once again stated that the UK economy is robust and resilient.</li>\r\n	<li>The Consumer price inflation index, he predicts will be below 1% possibly into the second half of 2016.</li>\r\n</ol>\r\nBasically, it was a very dovish bulletin.\r\n\r\nFrom a Forex trading perspective at least we know where we stand once and for all. I think that Mark Carney after such a dovish collection of statements affecting the UK economic trading conditions will have to crawl back under a rock for at least six months.\r\n\r\nMaybe moving forward, he will think twice before releasing misleading statements, who knows? However, I would imagine that any future comments he makes would be well challenged given this remarkable u-turn. As stated earlier running a business in the UK must have been a nightmare in the past couple of years, at least now it looks like an extended dovish period is in play.\r\n\r\nIn my opinion, we should have a clear six to nine months of policy divergence in the UK (BOE v FED) happy days, as far as I am concerned!!\r\n\r\n<strong> </strong>\r\n<ol start=\"3\">\r\n	<li><strong> THE PREMIUM SERVICE:</strong></li>\r\n</ol>\r\n3.1: SUMMARY OF YEAR TO DATE PERFORMANCE - 2015\r\n<p style=\"text-align: center;\">PREMIUM SERVICE – COST INCOME ANALYSIS (USD):</p>\r\n<p style=\"text-align: center;\">PROFITS FROM TRADE SET-UPS – to November 7th 2015.\r\n(The profit levels below are based on single lot trades only)</p>\r\n<p style=\"text-align: center;\">MICRO LOT TRADER - 589 trades cost to trade = $58.90\r\n<strong>PROFIT</strong> from 589 trades = <strong>$1,071.70</strong></p>\r\n<p style=\"text-align: center;\">MINI LOT TRADER - 589 trades cost to trade = $589.00\r\n<strong>PROFIT</strong> from 589 trades = <strong>$10,717.00</strong></p>\r\n<p style=\"text-align: center;\">STANDARD LOT TRADER - 589 trades cost to trade = $5,890.00\r\n<strong>PROFIT</strong> from 589 trades = <strong>$107,173.00</strong></p>\r\n3.2: PREMIUM SERVICE – TRADE SUMMARIES THIS MONTH:\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/RADAR1-07112015.png\"><img class=\"aligncenter size-full wp-image-6745\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/RADAR1-07112015.png\" alt=\"RADAR1 07112015\" width=\"506\" height=\"543\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/RADAR2-07112015.png\"><img class=\"aligncenter size-full wp-image-6746\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/RADAR2-07112015.png\" alt=\"RADAR2 07112015\" width=\"485\" height=\"543\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/FLASH1-07112015.png\"><img class=\"aligncenter size-full wp-image-6747\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/FLASH1-07112015.png\" alt=\"FLASH1 07112015\" width=\"480\" height=\"544\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/FLASH2-07112015.png\"><img class=\"aligncenter size-full wp-image-6748\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/FLASH2-07112015.png\" alt=\"FLASH2 07112015\" width=\"497\" height=\"540\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/FUN-07112015.png\"><img class=\"aligncenter size-full wp-image-6749\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/FUN-07112015.png\" alt=\"FUN 07112015\" width=\"519\" height=\"533\" /></a>\r\n\r\n&nbsp;\r\n\r\n3.3: PREMIUM SERVICE – 2015 PERFORMANCE TO DATE:\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/PS-PROFITS1-07112015.png\"><img class=\"aligncenter size-full wp-image-6743\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/PS-PROFITS1-07112015.png\" alt=\"PS PROFITS1 07112015\" width=\"527\" height=\"417\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/PS-PROFITS2-07112015.png\"><img class=\"aligncenter size-full wp-image-6744\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/PS-PROFITS2-07112015.png\" alt=\"PS PROFITS2 07112015\" width=\"536\" height=\"416\" /></a>\r\n\r\n&nbsp;\r\n\r\n3.4: PREMIUM SERVICE – 2014 TOTAL PERFORMANCE:\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/12/PREM-SERV-PERF2-31122014.png\"><img class=\"aligncenter size-full wp-image-4962\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/12/PREM-SERV-PERF2-31122014.png\" alt=\"PREM SERV PERF2 31122014\" width=\"470\" height=\"426\" /></a>\r\n\r\n&nbsp;\r\n\r\nNOTES:\r\n<ul>\r\n	<li>If the above return from Forex Trading interests you go to my website landing page at <a href=\"http://www.weeklyfxdrivethru.com\">weeklyfxdrivethru.com</a> and check out the subscription options and special promotions under the tabs “PREMIUM SERVICE” and “PROMOTIONS”</li>\r\n	<li>If you want more data about the performance and my website does not answer your questions, contact me directly and I will supply the data you require.</li>\r\n	<li>THE PREMIUM SERVICE has subscribers with broker accounts of sizes ranging from $2,500 to over $100,000. A profitable trade is a profitable trade. It is all about trading according to the size of your broker account (EFFECTIVE POSITION SIZING) and applying RISK MANAGEMENT principles at all times.</li>\r\n</ul>\r\n<strong> </strong><strong> </strong><strong> </strong>\r\n<ol start=\"4\">\r\n	<li><strong> PREMIUM SERVICE (GOLD) SUBSCRIBER CONTENT:\r\n</strong>(The following section is additional data, thoughts, and ideas exclusively for PREMIUM SERVICE (GOLD) subscribers)</li>\r\n</ol>\r\n4.1: THE PREMIUM SERVICE – TRADING REVIEW:\r\n(A look back at the past week’s highs and lows from trades undertaken):\r\n\r\nLast week was a great week for the PREMIUM SERVICE, especially if you were trading the DIVERGENT FUNDAMENTAL TRADES. Yesterdays NFP saw a blow out number and huge USD strength push through the markets, 790 pips of profit was banked on the back of NFP.\r\n\r\nWe now have divergence to trade from. This should enable not just directional trading but also trading with momentum.\r\n\r\nOut of the 13 completed trades last week only 1 trade was a loss making trade.\r\n\r\nThe loss trade being long GBP/NZD; I entered this trade long on the back of the GBP across the board sell off after the inflation report. I believed that the GBP/USD was oversold at a level of key support; it was also registering a very low RSi (11). I felt that the GBP/USD would bounce and take with it all GBP X rates. However, to my surprise, cable just kept on falling and on a wicked drop lower of about 30 pips in one swoop, my stop accompanied with huge slippage as well was taken. In hindsight, my stop placement was too tight given the volatility associated with this pair.\r\n\r\nMoving forward this week, I am expecting a period of consolidation over the next few days after such a move in the currency market. This period of consolidation will be an opportunity to enter trades at better prices. This is why I was not too concerned about not jumping into too many trades after NFP.\r\n\r\n&nbsp;\r\n\r\n4.2: THE DIVERGENT CB MONETARY POLICY – FUNDAMENTAL TRADES:\r\n\r\nThe initial blast of trades have to be deemed a success. 790 pips banked as profits from just 3 trades. Currently, we have three live trades (EUR/GBP, EUR/USD and NZD/USD) and three more trades with limit order entries (AUD/CHF, USD/CHF and USD/CAD). In addition, before adding more limit orders, I am going to re-assess the existing limit order trades reviewing the entry levels.\r\n\r\nTo re-iterate what I have been saying of late, the DIVERGENT MONETARY POLICY trades should have initial smaller position sizes when entering. My main reason behind this is so that I can have as much flexibility as possible setting stops that can be stretched if required to meet market conditions.\r\n\r\nThe moves after NFP created such oversold conditions that I felt it was prudent and good trading to take $$$ off the table. Given the sizes of the moves there should be plenty of opportunities to re-enter this week. As a hedge against no pullbacks and just pure 100% continuation, I re-entered EUR/USD short just in case we see an Asian meltdown after the open this week.\r\n\r\nI do not want to have 14-15 trades open at once as FUNDAMENTAL TRADES because they can be difficult to manage along with the other daily opportunist and swing trades, plus I am watching the swap rates as these can add up pretty quickly.\r\n\r\nFinally in this section, to trade these DIVERGENT FUNDAMENTAL TRADES separately away from your main broker account, I still believe that if you are trading mini lots that your account should have a balance of between $4,000 and $5,000.\r\n\r\n&nbsp;\r\n\r\n4.3: CHANGES TO MY PREFERRED FX BROKER LINEUP:\r\n\r\nOver the past week many of you have opened up additional broker accounts via the FX broker banners on my website to specifically trade the DIVERGENT CB POLICY FUNDAMENTAL TRADES.\r\n\r\nTrading mini lots and opening an account with $5,000 so far has given you in the first week a profit of $660.00. That is a (13% ROI) on your trading account, for placing 3 trades at a cost of $3.00. Lets hope that this can continue.\r\n\r\nThe remaining three open trades are about $60.00 in the black based on mini lot trading.\r\n\r\nI received a few emails asking would I be adding to my existing line-up of brokers. The answer is yes. During 2015, I have been trading with other brokers through necessity as living in Quebec has issues brought about by the language laws. These laws on the promotion of the French language are in my opinion anti-business and create a real issue for the province through lack of investment. Language is the b-all and end all. The language issues are well documented and are so entrenched; I sometimes feel that until the province is bankrupt with 60-70% unemployment no radical changes will be implemented. From a trading perspective more and more traders are being squeezed out and not granted licenses.\r\n\r\nI had to give up relationships with long standing brokers simply because they would NOT offer a French platform, not just French but Quebec French, which is different. The costs are unreal for brokers, and the benefits practically zero given the take up rate.\r\n\r\nSo, as a result of this, and, knowing that it was coming, I have been “road testing”, new brokers. Some have fallen by the wayside, as they did not meet my criteria even though it was promised but eventually I have ended up with two new brokers who will be added very shortly. Accounts can be opened with them now. Just let me know if you are interested and I will help.\r\n\r\nThe new brokers are Hantec Markets and VanatgeFX. These are added to the existing brokers consisting of Blackwell Global, Fx Pro and AvaTrade; offering five in total.\r\n\r\nI have a few goodies available with VantageFX that can be included but the referral needs to emanate through my website or myself.\r\n\r\nIf you are interested let me know and I will ensure that you have the correct account manager and that if goodies are available you will receive them.\r\n\r\n&nbsp;\r\n\r\n4.4: REVISIONS TO TRADE STYLE DEFINITIONS:\r\n\r\nAs I am now adding what I hope to be longer-term trades based upon “Divergent Central bank Policy” to the PREMIUM SERVICE, I think it is time to re-address the trade styles.\r\n\r\nA couple of you wanted to add a 4<sup>th</sup> trade style to cover these new trades. Instead of doing this I think its easier just to simplify what is there at the moment as follows: -\r\n\r\n<strong>FLASH TRADES:  </strong>\r\nOpportunist trades in LIVE market conditions. These trades are either based off a pullback strategy, a GIMME10 strategy, or off momentum in a trading pair at the time of entry.\r\nThe goal is to either take 10-30 pips or see a sufficient move to place a protective stop in place to see if a swing trade develops.\r\nSome FLASH TRADES may form part of an overall trading plan with a given currency pair, but the entry could not be made via a LIMIT ORDER.\r\n\r\n<strong>RADAR TRADES:  </strong>\r\nThese a pre-meditated entry trades set from either Fibonacci levels, pivot points or previous support and resistance based off a combination of horizontal or trend line support or resistance.\r\nThe goal is always if possible to swing trade these trades by establishing a position that if market conditions apply allow the trade to gather traction and develop into a longer-term position trade.\r\n\r\n<strong>FUNDAMENTAL TRADES:  </strong>\r\nThese will be trades based off my TRADING PLAN goals for trades in line with my longer-term market views.\r\nTrades in this area will use in addition Fibonacci levels, Pivot points, trend lines and prior support and resistance levels, weekly and monthly ATR’s (Average True Ranges) when setting Stop Loss levels. These trades are hopefully of a longer-term nature. They will be initially “single-lot” sized trades due to the wider stop placements that will be applied.\r\n\r\n&nbsp;\r\n\r\n4.5: MAJOR TRADING PAIRS WITH LONGER-TERM MATCHING TRENDS:\r\n(The 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&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/PS-TRENDING-PAIRS-07112015.png\"><img class=\"aligncenter size-full wp-image-6752\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/PS-TRENDING-PAIRS-07112015.png\" alt=\"PS TRENDING PAIRS 07112015\" width=\"486\" height=\"622\" /></a>\r\n\r\n4.6: THE PREMIUM SERVICE - LIVE TRADES ARE:\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/PS-LIVE-TRADES-7112015.png\"><img class=\"aligncenter size-full wp-image-6751\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/PS-LIVE-TRADES-7112015.png\" alt=\"PS LIVE TRADES 7112015\" width=\"693\" height=\"557\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n4.7: THE PREMIUM SERVICE – LIMIT ORDER TRADES ARE:\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/PS-LIMIT-ORDERS-07112015.png\"><img class=\"aligncenter size-full wp-image-6750\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/PS-LIMIT-ORDERS-07112015.png\" alt=\"PS LIMIT ORDERS 07112015\" width=\"682\" height=\"440\" /></a>\r\n\r\n&nbsp;\r\n\r\n4.8: POTENTIAL TRADES - WHAT PAIRS / CHARTS AM I LOOKING AT?\r\n\r\nI have a few in this section and I have absolutely no doubt that when the markets open this week and we have the chance to consolidate the NFP moves there will be in the region of a dozen limit orders in position. I am at this stage, as you will see looking for some decent pullbacks to at least the 38%-50% Fibonacci levels. I will not know whether this is too ambitious or whether we have just very shallow retracements to the 23.6% Fibonacci levels until the first European session this week. There were many extreme levels attacked last Friday and we should see a pullback, but there are no guarantees.\r\n\r\nAt least the following charts will give you an idea of my thoughts and all of my comments relating to the potential trades are contained on the charts.\r\n\r\n&nbsp;\r\n\r\n<strong><a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/AUDNZD-D-07112015.png\"><img class=\"aligncenter size-large wp-image-6769\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/AUDNZD-D-07112015-1024x514.png\" alt=\"AUDNZD D 07112015\" width=\"1024\" height=\"514\" /></a> </strong>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/AUDUSD-240M-07112015.png\"><img class=\"aligncenter size-large wp-image-6768\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/AUDUSD-240M-07112015-1024x514.png\" alt=\"AUDUSD 240M 07112015\" width=\"1024\" height=\"514\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/GBPUSD-3D-07112015.png\"><img class=\"aligncenter size-large wp-image-6767\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/GBPUSD-3D-07112015-1024x514.png\" alt=\"GBPUSD 3D 07112015\" width=\"1024\" height=\"514\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/USDCAD-240M-07112015.png\"><img class=\"aligncenter size-large wp-image-6766\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/USDCAD-240M-07112015-1024x514.png\" alt=\"USDCAD 240M 07112015\" width=\"1024\" height=\"514\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/USDCHF-240M-07112015.png\"><img class=\"aligncenter size-large wp-image-6765\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/USDCHF-240M-07112015-1024x514.png\" alt=\"USDCHF 240M 07112015\" width=\"1024\" height=\"514\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/AUDJPY-D-07112015.png\"><img class=\"aligncenter size-large wp-image-6764\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/AUDJPY-D-07112015-1024x514.png\" alt=\"AUDJPY D 07112015\" width=\"1024\" height=\"514\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/EURCAD-W-07112015.png\"><img class=\"aligncenter size-large wp-image-6763\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/EURCAD-W-07112015-1024x514.png\" alt=\"EURCAD W 07112015\" width=\"1024\" height=\"514\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/EURJPY-W-07112015.png\"><img class=\"aligncenter size-large wp-image-6762\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/EURJPY-W-07112015-1024x514.png\" alt=\"EURJPY W 07112015\" width=\"1024\" height=\"514\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/NZDJPY-240M-07112015.png\"><img class=\"aligncenter size-large wp-image-6761\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/NZDJPY-240M-07112015-1024x514.png\" alt=\"NZDJPY 240M 07112015\" width=\"1024\" height=\"514\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n<ol start=\"5\">\r\n	<li><strong> MY FINAL THOUGHTS:</strong></li>\r\n</ol>\r\nOVERVIEW OF TRADING TIPS &amp; THOUGHTS FOR THE WEEK AHEAD:\r\n\r\nFinally, we have a divergent central bank policy moving into position. I think that even the Queen ditherer Janet Yellen will find it very difficult not to raise rates in December at the next FOMC meeting.\r\n\r\nThis should provide us with not just directional trading but also momentum trading, which has not been around for some considerable time.\r\n\r\nThis however, does not mean green for go get out there and go long the USD all over the place? We have to be selective and allow for consolidation moves to finish their course. This might only take a couple of days, but it could take a couple of weeks and as you know currencies do not move in straight lines they move up and down but can still be overall directional.\r\n\r\nTherefore the best policy is to continue to be patient. Being 100% exact on your entry is pleasing but as we enter the next period in currency markets 100% accuracy in not a pre-requisite. There will be so many pips available that to miss 20-30 may be frustrating and possibly annoying, but it is not the b-all and end all, so to speak.\r\n\r\nEnsure that your TRADE PLANS are adhered to and that you do not over-extend your account through over-leveraging to try to take advantage of the upcoming moves. As stated earlier the FX market does not move in a straight line no matter how directional the market may appear and over-leveraging will only end in tears.\r\n\r\nTake care,\r\n\r\nScott Pickering\r\nThe Pip Accumulator\r\n<a href=\"https://weeklyfxdrivethru.com/disclaimer/\">https://weeklyfxdrivethru.com/disclaimer/\r\n</a>BLOG #80','IS IT JUST ME OR…DOES MARK CARNEY NEVER APPEAR TO GET IT RIGHT?','','publish','open','closed','','is-it-just-me-ordoes-mark-carney-never-appear-to-get-it-right','','','2015-11-07 17:18:20','2015-11-07 22:18:20','',0,'https://weeklyfxdrivethru.com/?post_type=member_posts&#038;p=6770',0,'member_posts','',0),(6771,1,'2015-11-07 17:14:23','2015-11-07 22:14:23','<p style=\"text-align: center;\"><strong>THE PREMIUM SERVICE</strong>\r\n<strong>from the</strong>\r\n<strong>WEEKLY FX DRIVE THRU</strong>\r\n<strong>“The Home of Single Lot Trading”</strong></p>\r\n<strong> </strong>\r\n<ol>\r\n	<li><strong> THE VIEW FROM MY TRADE DESK:</strong></li>\r\n</ol>\r\nLOOKING BACKWARDS, FORWARDS &amp; SIDEWAYS (FOR GOOD MEASURE) AT THE FX MARKET:\r\n\r\n1.1: LOOKING BACKWARDS:\r\n\r\nWell that was a week as far as I am concerned, when the introduction of monetary policy divergence via the world’s major central banks was 95% confirmed. As I wrote last week, the NFP numbers released yesterday had to be an absolute disaster for the FED not to raise interest rates at next months FOMC meeting in December.\r\n\r\nThe numbers were a blowout: -\r\n\r\n<strong>271,000 jobs versus consensus of 181,000</strong>\r\n<strong>Previous month revised up by 12,000.</strong>\r\n\r\n<strong>Unemployment Rate at 5% unchanged</strong>\r\n\r\n<strong>Average Hourly Earnings 0.4% consensus 0.2%</strong>\r\n\r\nAs a result, my divergent trading plan is now in full swing. I have added lots of potential trade set-ups for my subscribers into the Premium Service section of the blog and there are more set-ups to post early next week.\r\n\r\nThe USD is in HUGE breakout territory…see the chart below. In my opinion it is now time to buy the USD on dips.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/DXY-07112015.png\"><img class=\"aligncenter size-large wp-image-6753\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/DXY-07112015-1024x535.png\" alt=\"DXY 07112015\" width=\"1024\" height=\"535\" /></a>\r\n\r\n&nbsp;\r\n\r\nAs you can see in the weekly DXY (USD index) chart above the move higher in the USD was pretty spectacular and later in this blog if you compare chart movements on a weekly basis with the USD major pairs you will see there were moves of 250-300 pips and greater almost across the board. By any stretch of the imagination there is USD power back in the system, there are buyers of the greenback all over the place.\r\n\r\nBe aware though, we should see a period of consolidation as these powerful moves are absorbed and overbought / oversold conditions are worked off. I strongly suggest that you do not do an impression of my male Labrador “Ozzy” who, always jumps in feet first creating an explosion of chaos and disorder. Try to plan your moves, you should have the time. The initial set ups I will be suggesting have very ambitious entry levels. They may require a little bit of tinkering, and whilst I do not mind giving away 20-30 pips on an entry given the circumstances, a 70-90-pip giveaway is in my opinion not that clever. I will be taking my female Labradors approach, “Aoife” who is far more cautious and in comparison to her brother “Ozzy” and does not dive in head first like a bull in a china shop.\r\n\r\nJust look at the charts, so many of the USD majors hit extreme Fibonacci levels and should pullback to re-test breakouts and work off these extreme conditions. But this does not mean that it will happen.\r\n\r\nAhead of the Fed I traded really light. I decided not to go full out with the AUD and NZD news. I just let the existing trades do their stuff and I banked $$$ when I could and closed out many trades just after the BOE “Super Thursday” and ahead of the NFP release. I kept my longer-term trades open into NFP, but decided to take profits on the EUR/USD, USD/CHF and GBP/NZD trades after the news event. Subsequently, I have re-entered these pairs on pullbacks or set up limit orders.\r\n\r\nI have written on many occasions that patience is a virtue with trading. It was very, very hard to keep my hands off the keyboard at times last week, in hindsight, which of course is just a wonderful thing, I probably could have traded a bit more but staying low is a really good discipline at times.\r\n\r\nTo recap, everything now as far as I am concerned is based around solid chart analysis moving forward. The great news is, even if you are bit hit and miss, we are directionally set up, and as such, with entry levels, whilst we always strive to have them a perfect as possible (which is a great discipline), you will not need to be spot on, even those of you who are not 100% confident can be 20-30 pips out on entries in my opinion, as directional moves are about to set in and there should be hundreds, if not thousands of pips available for us to trade with.\r\n\r\n&nbsp;\r\n\r\n1.2: LOOKING FORWARD:\r\n\r\nMAJOR FOREX NEWS THIS WEEK THAT INTERESTS ME:\r\n\r\n(There are many more news items related to the Forex Market other than the ones listed below. These are the ones that interest me. You can go to <a href=\"http://www.forexfactory.com\">www.forexfactory.com</a> and <a href=\"http://www.tradingeconomics.com\">www.tradingeconomics.com</a> for a more comprehensive lists of all news events that are Forex related).\r\nSUNDAY: N/A.\r\n\r\nMONDAY: AUD – NAB Business Confidence.\r\nMONDAY: CNY - CPi.\r\n\r\nTUESDAY: GBP – Inflation Report Hearings.\r\nTUESDAY: NZD – RBNZ financial Stability Report.\r\n\r\nWEDNESDAY: GBP – Jobs Data &amp; words of wisdom from Mark Carney (BOE).\r\nWEDNESDAY: AUD – Jobs Data.\r\n\r\nTHURSDAY: N/A.\r\n\r\nFRIDAY: EUR – German GDP.\r\nFRIDAY: USD – Core Retail Sales and PPi plus UOM Consumer Sentiment.\r\n\r\n&nbsp;\r\n\r\nMY THOUGHTS ON THE NEWS ITEMS THIS COMING WEEK:\r\n\r\nIn comparison to the last two weeks, this coming week is a great deal lighter on economic news data releases.\r\n\r\nThe one item that is not listed above will be all the “FED speak” and the appearance of “EUR numpties” that will emerge from under rocks being dragged onto our TV screens to give as much conflicting news as possible to ensure that they get their 30 second sound-bytes.\r\n\r\nWe have to be aware of this fact, but remember only Janet Yellen’s comments count in the U.S. and Mario Draghi’s in the Eurozone.\r\n\r\nThe likes of CNBC and BLOOMBERG will be looking at the potential targets of USD strength to make as much noise as possible about the pitfalls of a rate hike by the FED. It is not about reporting news nowadays; it’s about trying to make news. The FED sets out monetary policy; it is NOT set by analysis on CNBC or BLOOMBERG. Ben Bernanke announced the change in FED policy last year when tapering completed, we are now at step 2, moving forward with interest rate normalization.\r\n\r\nTherefore, I see commentary and equities driving the Forex Markets this week more than the economic data releases and we should bear in mind that because we are light on USD data in particular, there really is nothing much that could stop the USD from strengthening further.\r\n\r\nHaving just written that please note my thoughts on jumping in too fast as we should in my opinion, see a period of consolidation. Lots of the USD major pairs hit extreme levels that need to be worked off. However, there are no guarantees that the USD will stop when the Asian markets open, it may need Asian traders to flush out their trades after NFP first. The USD should confirm the big move, at this stage these will be the best prices to enter with your trades, the issue is always nobody tells you.\r\n\r\nTherefore, we have to be both patient and ready at the same time!\r\n\r\n&nbsp;\r\n\r\nMY KEY SUPPORT &amp; RESISTANCE LEVELS THIS WEEK FOR USD MAJORS<strong>:</strong>\r\n\r\nIn this section I have as usual kept my charts as minimalist as possible. All readers regardless of level of experience should be able to follow my thoughts from my comments to the levels on the charts with ease.\r\n\r\nAll of my thoughts, ideas and relevant comments are contained on the charts.\r\n\r\n&nbsp;\r\n\r\nEUR/USD - Weekly Closing Price: 1.0745\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/EURUSD-W-07112015.png\"><img class=\"aligncenter size-large wp-image-6755\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/EURUSD-W-07112015-1024x514.png\" alt=\"EURUSD W 07112015\" width=\"1024\" height=\"514\" /></a>\r\n\r\n&nbsp;\r\n\r\nGBP/USD - Weekly Closing Price: 1.5050\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/GBPUSD-W-07112015.png\"><img class=\"aligncenter size-large wp-image-6756\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/GBPUSD-W-07112015-1024x514.png\" alt=\"GBPUSD W 07112015\" width=\"1024\" height=\"514\" /></a>\r\n\r\n&nbsp;\r\n\r\nAUD/USD - Weekly Closing Price: 0.7048\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/AUDUSD-D-07112015.png\"><img class=\"aligncenter size-large wp-image-6754\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/AUDUSD-D-07112015-1024x514.png\" alt=\"AUDUSD D 07112015\" width=\"1024\" height=\"514\" /></a>\r\n\r\n&nbsp;\r\n\r\nNZD/USD - Weekly Closing Price: 0.6523\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/NZDUSD-D-07112015.png\"><img class=\"aligncenter size-large wp-image-6757\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/NZDUSD-D-07112015-1024x514.png\" alt=\"NZDUSD D 07112015\" width=\"1024\" height=\"514\" /></a>\r\n\r\n&nbsp;\r\n\r\nUSD/CAD - Weekly Closing Price: 1.3296\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/USDCAD-D-07112015.png\"><img class=\"aligncenter size-large wp-image-6758\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/USDCAD-D-07112015-1024x514.png\" alt=\"USDCAD D 07112015\" width=\"1024\" height=\"514\" /></a>\r\n\r\n&nbsp;\r\n\r\nUSD/CHF - Weekly Closing Price: 1.0059\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/USDCHF-W-07112015.png\"><img class=\"aligncenter size-large wp-image-6759\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/USDCHF-W-07112015-1024x514.png\" alt=\"USDCHF W 07112015\" width=\"1024\" height=\"514\" /></a>\r\n\r\n&nbsp;\r\n\r\nUSD/JPY - Weekly Closing Price: 123.19\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/USDJPY-W-07112015.png\"><img class=\"aligncenter size-large wp-image-6760\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/USDJPY-W-07112015-1024x514.png\" alt=\"USDJPY W 07112015\" width=\"1024\" height=\"514\" /></a>\r\n\r\n&nbsp;\r\n\r\n1.3: LOOKING SIDEWAYS (FOR GOOD MEASURE):\r\n\r\nOver the past week, I received a couple of communications from subscribers based around trade flexibility, basically stop loss placement.\r\n\r\nI sometimes feel that I have been saying this most of 2015, however more notably just before the summer and again in September when the FOMC missed opportunities to hike interest rates, I have been advising traders to trade smaller position sizes with wider stops.\r\n\r\nThe main reason for this was to give us as traders a greater opportunity to stay alive with trades rather than being stopped out in choppy market conditions. The uncertainty in the Forex markets driven in part, or maybe in whole, by Janet Yellen dithering made it at times a lottery to trade. Yes, there were opportunities, there always are in hindsight, but at the time FUNDAMENTALS and TECHNICALS counted for nothing as currency pairs were dragged beyond key levels of support and resistance causing numerous false breakouts and false breakdowns.\r\n\r\nMany novice traders were lured in, only to be the wrong side of the market and out of cash in loss situations very quickly as the false moves came back into trading ranges.\r\n\r\nWhen setting trades I use Fibonacci levels in conjunction with horizontal support and resistance levels and from these and other charting patterns I select high probability trades. I set my stop losses and limits using the same ideas.\r\n\r\nThis year has been a different year in the way that I have approached trading compared to 2014. In fact it all changed for me after Thomas Jordan (SNB) removed the EUR/CHF peg. The numerous short squeezes’ that followed in the ensuing couple of months from an upset market trying to adjust made me change. I took losses and I had to adjust.\r\n\r\nWhen entering trades I use smaller positions and this allows me greater flexibility. I know at the outset what my RISKS are, based on a full-size position, but I enter on a % of my full-size. This means I can move stop loss positions without fear of breaking my RISK MANAGEMENT levels from within my TRADE PLAN and should the trade turn profitable I can add to the core trade and then adjust my stops either based on the overall trade or treat each trade as an individual trade for RISK MANAGEMENT purposes.\r\n\r\nThis is a far more adaptable and flexible way to trade. Whilst it involves a little more account management of your trades the benefits more than outweigh the time involved checking and validating the adjustments required.\r\n\r\nIt involves my key word for 2015… PATIENCE.\r\n\r\n&nbsp;\r\n\r\n<strong> </strong>\r\n<ol start=\"2\">\r\n	<li><strong> WHAT’S ON MY MIND:</strong></li>\r\n</ol>\r\n<p style=\"text-align: center;\"><strong>IS IT JUST ME OR…</strong>\r\n<strong>DOES MARK CARNEY NEVER APPEAR TO GET IT RIGHT?</strong></p>\r\nI know I repeatedly give Mark Carney a hard time, but lets face facts he is a fecking muppet.\r\n\r\nHe has never delivered on anything since moving from the BOC in 2013, apart from bloody confusion.\r\n\r\nIf his job specification states he has to mislead markets, he would be earning a performance bonus. The fact is that this is not in his job profile. For over a year he has been bullshi****g markets about the state of the UK economy, which must be a nightmare for UK businesses.\r\n\r\nHe is just not credible anymore.\r\n\r\nI recall in the early summer of 2014, my wife and I were driving to Saratoga Springs for a few days R&amp;R, which coincided with Carney’s speech at the London Lord Mayor’s Mansion House dinner. Carney spoke about the state of the UK economy and talked about UK interest rates rising sooner rather later. Over the days that followed he talked down the comments made in his speech and sure enough UK economic data that followed was mixed and cold water was poured on the possibility of an interest rate increase. Obviously in the interim GBP related currency pairs were on fire.\r\n\r\nThis year he has on at least two occasions talked up the fact that the UK interest rates will increase. The most notable occasion was in July at Lincoln Cathedral where he made a major monetary policy speech. The markets just reacted as they do on hearing this, only once again to be disappointed when the economic data that followed showed a completely different picture than that spouted by Carney.\r\n\r\nIn fact at a gathering of central bankers, called BIFFOS (Big Ignorant Feckers Full Of Shite), which I think it was in South America somewhere, Carney even went out in public to say that the UK economy was in great shape and that he would even move rates ahead of the FED. Holy mother of God, in the name of all that is defined as sanity, who, would move ahead of the FED; at the same time maybe, but ahead of the FED?\r\n\r\nMark Carney just cannot be believed; all comments made by him should carry a serious Forex trader warning.\r\n\r\nBelow is a section from my pre BOE trade ideas/update that I sent to my premium service subscribers on 4<sup>th</sup> November 2015.\r\n<p style=\"text-align: center;\"><span style=\"color: #0000ff;\"><strong><em>THE BANK OF ENGLAND - INFLATION REPORT:</em></strong></span></p>\r\n<p style=\"text-align: center;\"><span style=\"color: #0000ff;\"><em>Tomorrow is a big BOE day. Carney will spin a few yarns no doubt about that but it is the INFLATION REPORT that always turns into the market mover. </em></span></p>\r\n<p style=\"text-align: center;\"><span style=\"color: #0000ff;\"><em>I remember a few years ago when the GBP/USD was just above 2.0000 and the then BOE governor Mervyn King painted the UK economy as it was, he pulled no punches and clearly stated where he thought it was going. The GBP/USD waterfalled lower in dramatic style. </em><em> </em></span></p>\r\n<p style=\"text-align: center;\"><span style=\"color: #0000ff;\"><em>This is an important data release and should not be underestimated with its impact.</em><em> </em></span></p>\r\n<em>Given \"The Carney\" effect I see no reason to expect anything other than a big GBP move.</em>\r\n\r\nWhen I wrote about the Carney effect, I really did not think he would have provided such a dovish statement, given that the markets were expecting a hawkish view.\r\n\r\nThe mere fact that Deputy governor Minouche Shafik defended questions stating that the BOE had been wrong-footing investors and households with its various signals on when interest rates may start to rise says it all as far as I am concerned.\r\n\r\nAll the forward guidance given by Carney has been a joke. Since 2013 after Carneys arrival from the BOC, he initially said that when unemployment reached 7% he would look at raising rates. The jobless number fell quite quickly; he pooped his pants and backtracked. Next it was the Oil price that prevented a rate rise.\r\n\r\nMaybe I have him wrong… maybe he is just a ditherer like Janet Yellen?\r\n\r\nSo, last Thursday what were the key points that he hit the markets with?\r\n<ol>\r\n	<li>The BOE MPC voted 8-1 to keep interest rates unchanged. (Ian McCafferty, the one man standing alone looking for a rate increase)</li>\r\n	<li>He stated that the BOE outlook for global growth has weakened since August. He blamed emerging market economies for that weakness, saying that growth in the emerging market regions had slowed markedly.</li>\r\n	<li>The bank expects inflation to rise above its 2% goal in two years. He went on to say that risks lie to the downside during the two-year period. What that means is that just like his predecessor Mervyn King he has NO control whatsoever over inflation growth and just cannot get the sustained growth required to achieve the 2% objective. Ever since I started trading Forex Merve “the swerve” King, never hit this objective and came up with so many “sick note” equivalents of excuses as to why. History is just repeating itself.</li>\r\n	<li>Rising interest rates are now delayed by 10 or 12 months to the end of 2016.</li>\r\n	<li>Yet, Carney once again stated that the UK economy is robust and resilient.</li>\r\n	<li>The Consumer price inflation index, he predicts will be below 1% possibly into the second half of 2016.</li>\r\n</ol>\r\nBasically, it was a very dovish bulletin.\r\n\r\nFrom a Forex trading perspective at least we know where we stand once and for all. I think that Mark Carney after such a dovish collection of statements affecting the UK economic trading conditions will have to crawl back under a rock for at least six months.\r\n\r\nMaybe moving forward, he will think twice before releasing misleading statements, who knows? However, I would imagine that any future comments he makes would be well challenged given this remarkable u-turn. As stated earlier running a business in the UK must have been a nightmare in the past couple of years, at least now it looks like an extended dovish period is in play.\r\n\r\nIn my opinion, we should have a clear six to nine months of policy divergence in the UK (BOE v FED) happy days, as far as I am concerned!!\r\n\r\n<strong> </strong>\r\n<ol start=\"3\">\r\n	<li><strong> THE PREMIUM SERVICE:</strong></li>\r\n</ol>\r\n3.1: SUMMARY OF YEAR TO DATE PERFORMANCE - 2015\r\n<p style=\"text-align: center;\">PREMIUM SERVICE – COST INCOME ANALYSIS (USD):</p>\r\n<p style=\"text-align: center;\">PROFITS FROM TRADE SET-UPS – to November 7th 2015.\r\n(The profit levels below are based on single lot trades only)</p>\r\n<p style=\"text-align: center;\">MICRO LOT TRADER - 589 trades cost to trade = $58.90\r\n<strong>PROFIT</strong> from 589 trades = <strong>$1,071.70</strong></p>\r\n<p style=\"text-align: center;\">MINI LOT TRADER - 589 trades cost to trade = $589.00\r\n<strong>PROFIT</strong> from 589 trades = <strong>$10,717.00</strong></p>\r\n<p style=\"text-align: center;\">STANDARD LOT TRADER - 589 trades cost to trade = $5,890.00\r\n<strong>PROFIT</strong> from 589 trades = <strong>$107,173.00</strong></p>\r\n3.2: PREMIUM SERVICE – TRADE SUMMARIES THIS MONTH:\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/RADAR1-07112015.png\"><img class=\"aligncenter size-full wp-image-6745\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/RADAR1-07112015.png\" alt=\"RADAR1 07112015\" width=\"506\" height=\"543\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/RADAR2-07112015.png\"><img class=\"aligncenter size-full wp-image-6746\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/RADAR2-07112015.png\" alt=\"RADAR2 07112015\" width=\"485\" height=\"543\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/FLASH1-07112015.png\"><img class=\"aligncenter size-full wp-image-6747\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/FLASH1-07112015.png\" alt=\"FLASH1 07112015\" width=\"480\" height=\"544\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/FLASH2-07112015.png\"><img class=\"aligncenter size-full wp-image-6748\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/FLASH2-07112015.png\" alt=\"FLASH2 07112015\" width=\"497\" height=\"540\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/FUN-07112015.png\"><img class=\"aligncenter size-full wp-image-6749\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/FUN-07112015.png\" alt=\"FUN 07112015\" width=\"519\" height=\"533\" /></a>\r\n\r\n&nbsp;\r\n\r\n3.3: PREMIUM SERVICE – 2015 PERFORMANCE TO DATE:\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/PS-PROFITS1-07112015.png\"><img class=\"aligncenter size-full wp-image-6743\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/PS-PROFITS1-07112015.png\" alt=\"PS PROFITS1 07112015\" width=\"527\" height=\"417\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/PS-PROFITS2-07112015.png\"><img class=\"aligncenter size-full wp-image-6744\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/PS-PROFITS2-07112015.png\" alt=\"PS PROFITS2 07112015\" width=\"536\" height=\"416\" /></a>\r\n\r\n&nbsp;\r\n\r\n3.4: PREMIUM SERVICE – 2014 TOTAL PERFORMANCE:\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/12/PREM-SERV-PERF2-31122014.png\"><img class=\"aligncenter size-full wp-image-4962\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/12/PREM-SERV-PERF2-31122014.png\" alt=\"PREM SERV PERF2 31122014\" width=\"470\" height=\"426\" /></a>\r\n\r\n&nbsp;\r\n\r\nNOTES:\r\n<ul>\r\n	<li>If the above return from Forex Trading interests you go to my website landing page at <a href=\"http://www.weeklyfxdrivethru.com\">weeklyfxdrivethru.com</a> and check out the subscription options and special promotions under the tabs “PREMIUM SERVICE” and “PROMOTIONS”</li>\r\n	<li>If you want more data about the performance and my website does not answer your questions, contact me directly and I will supply the data you require.</li>\r\n	<li>THE PREMIUM SERVICE has subscribers with broker accounts of sizes ranging from $2,500 to over $100,000. A profitable trade is a profitable trade. It is all about trading according to the size of your broker account (EFFECTIVE POSITION SIZING) and applying RISK MANAGEMENT principles at all times.</li>\r\n</ul>\r\n<strong> </strong><strong> </strong><strong> </strong>\r\n<ol start=\"4\">\r\n	<li><strong> PREMIUM SERVICE (GOLD) SUBSCRIBER CONTENT:\r\n</strong>(The following section is additional data, thoughts, and ideas exclusively for PREMIUM SERVICE (GOLD) subscribers)</li>\r\n</ol>\r\n4.1: THE PREMIUM SERVICE – TRADING REVIEW:\r\n(A look back at the past week’s highs and lows from trades undertaken):\r\n\r\nLast week was a great week for the PREMIUM SERVICE, especially if you were trading the DIVERGENT FUNDAMENTAL TRADES. Yesterdays NFP saw a blow out number and huge USD strength push through the markets, 790 pips of profit was banked on the back of NFP.\r\n\r\nWe now have divergence to trade from. This should enable not just directional trading but also trading with momentum.\r\n\r\nOut of the 13 completed trades last week only 1 trade was a loss making trade.\r\n\r\nThe loss trade being long GBP/NZD; I entered this trade long on the back of the GBP across the board sell off after the inflation report. I believed that the GBP/USD was oversold at a level of key support; it was also registering a very low RSi (11). I felt that the GBP/USD would bounce and take with it all GBP X rates. However, to my surprise, cable just kept on falling and on a wicked drop lower of about 30 pips in one swoop, my stop accompanied with huge slippage as well was taken. In hindsight, my stop placement was too tight given the volatility associated with this pair.\r\n\r\nMoving forward this week, I am expecting a period of consolidation over the next few days after such a move in the currency market. This period of consolidation will be an opportunity to enter trades at better prices. This is why I was not too concerned about not jumping into too many trades after NFP.\r\n\r\n&nbsp;\r\n\r\n4.2: THE DIVERGENT CB MONETARY POLICY – FUNDAMENTAL TRADES:\r\n\r\nThe initial blast of trades have to be deemed a success. 790 pips banked as profits from just 3 trades. Currently, we have three live trades (EUR/GBP, EUR/USD and NZD/USD) and three more trades with limit order entries (AUD/CHF, USD/CHF and USD/CAD). In addition, before adding more limit orders, I am going to re-assess the existing limit order trades reviewing the entry levels.\r\n\r\nTo re-iterate what I have been saying of late, the DIVERGENT MONETARY POLICY trades should have initial smaller position sizes when entering. My main reason behind this is so that I can have as much flexibility as possible setting stops that can be stretched if required to meet market conditions.\r\n\r\nThe moves after NFP created such oversold conditions that I felt it was prudent and good trading to take $$$ off the table. Given the sizes of the moves there should be plenty of opportunities to re-enter this week. As a hedge against no pullbacks and just pure 100% continuation, I re-entered EUR/USD short just in case we see an Asian meltdown after the open this week.\r\n\r\nI do not want to have 14-15 trades open at once as FUNDAMENTAL TRADES because they can be difficult to manage along with the other daily opportunist and swing trades, plus I am watching the swap rates as these can add up pretty quickly.\r\n\r\nFinally in this section, to trade these DIVERGENT FUNDAMENTAL TRADES separately away from your main broker account, I still believe that if you are trading mini lots that your account should have a balance of between $4,000 and $5,000.\r\n\r\n&nbsp;\r\n\r\n4.3: CHANGES TO MY PREFERRED FX BROKER LINEUP:\r\n\r\nOver the past week many of you have opened up additional broker accounts via the FX broker banners on my website to specifically trade the DIVERGENT CB POLICY FUNDAMENTAL TRADES.\r\n\r\nTrading mini lots and opening an account with $5,000 so far has given you in the first week a profit of $660.00. That is a (13% ROI) on your trading account, for placing 3 trades at a cost of $3.00. Lets hope that this can continue.\r\n\r\nThe remaining three open trades are about $60.00 in the black based on mini lot trading.\r\n\r\nI received a few emails asking would I be adding to my existing line-up of brokers. The answer is yes. During 2015, I have been trading with other brokers through necessity as living in Quebec has issues brought about by the language laws. These laws on the promotion of the French language are in my opinion anti-business and create a real issue for the province through lack of investment. Language is the b-all and end all. The language issues are well documented and are so entrenched; I sometimes feel that until the province is bankrupt with 60-70% unemployment no radical changes will be implemented. From a trading perspective more and more traders are being squeezed out and not granted licenses.\r\n\r\nI had to give up relationships with long standing brokers simply because they would NOT offer a French platform, not just French but Quebec French, which is different. The costs are unreal for brokers, and the benefits practically zero given the take up rate.\r\n\r\nSo, as a result of this, and, knowing that it was coming, I have been “road testing”, new brokers. Some have fallen by the wayside, as they did not meet my criteria even though it was promised but eventually I have ended up with two new brokers who will be added very shortly. Accounts can be opened with them now. Just let me know if you are interested and I will help.\r\n\r\nThe new brokers are Hantec Markets and VanatgeFX. These are added to the existing brokers consisting of Blackwell Global, Fx Pro and AvaTrade; offering five in total.\r\n\r\nI have a few goodies available with VantageFX that can be included but the referral needs to emanate through my website or myself.\r\n\r\nIf you are interested let me know and I will ensure that you have the correct account manager and that if goodies are available you will receive them.\r\n\r\n&nbsp;\r\n\r\n4.4: REVISIONS TO TRADE STYLE DEFINITIONS:\r\n\r\nAs I am now adding what I hope to be longer-term trades based upon “Divergent Central bank Policy” to the PREMIUM SERVICE, I think it is time to re-address the trade styles.\r\n\r\nA couple of you wanted to add a 4<sup>th</sup> trade style to cover these new trades. Instead of doing this I think its easier just to simplify what is there at the moment as follows: -\r\n\r\n<strong>FLASH TRADES:  </strong>\r\nOpportunist trades in LIVE market conditions. These trades are either based off a pullback strategy, a GIMME10 strategy, or off momentum in a trading pair at the time of entry.\r\nThe goal is to either take 10-30 pips or see a sufficient move to place a protective stop in place to see if a swing trade develops.\r\nSome FLASH TRADES may form part of an overall trading plan with a given currency pair, but the entry could not be made via a LIMIT ORDER.\r\n\r\n<strong>RADAR TRADES:  </strong>\r\nThese a pre-meditated entry trades set from either Fibonacci levels, pivot points or previous support and resistance based off a combination of horizontal or trend line support or resistance.\r\nThe goal is always if possible to swing trade these trades by establishing a position that if market conditions apply allow the trade to gather traction and develop into a longer-term position trade.\r\n\r\n<strong>FUNDAMENTAL TRADES:  </strong>\r\nThese will be trades based off my TRADING PLAN goals for trades in line with my longer-term market views.\r\nTrades in this area will use in addition Fibonacci levels, Pivot points, trend lines and prior support and resistance levels, weekly and monthly ATR’s (Average True Ranges) when setting Stop Loss levels. These trades are hopefully of a longer-term nature. They will be initially “single-lot” sized trades due to the wider stop placements that will be applied.\r\n\r\n&nbsp;\r\n\r\n4.5: MAJOR TRADING PAIRS WITH LONGER-TERM MATCHING TRENDS:\r\n(The 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&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/PS-TRENDING-PAIRS-07112015.png\"><img class=\"aligncenter size-full wp-image-6752\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/PS-TRENDING-PAIRS-07112015.png\" alt=\"PS TRENDING PAIRS 07112015\" width=\"486\" height=\"622\" /></a>\r\n\r\n4.6: THE PREMIUM SERVICE - LIVE TRADES ARE:\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/PS-LIVE-TRADES-7112015.png\"><img class=\"aligncenter size-full wp-image-6751\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/PS-LIVE-TRADES-7112015.png\" alt=\"PS LIVE TRADES 7112015\" width=\"693\" height=\"557\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n4.7: THE PREMIUM SERVICE – LIMIT ORDER TRADES ARE:\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/PS-LIMIT-ORDERS-07112015.png\"><img class=\"aligncenter size-full wp-image-6750\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/PS-LIMIT-ORDERS-07112015.png\" alt=\"PS LIMIT ORDERS 07112015\" width=\"682\" height=\"440\" /></a>\r\n\r\n&nbsp;\r\n\r\n4.8: POTENTIAL TRADES - WHAT PAIRS / CHARTS AM I LOOKING AT?\r\n\r\nI have a few in this section and I have absolutely no doubt that when the markets open this week and we have the chance to consolidate the NFP moves there will be in the region of a dozen limit orders in position. I am at this stage, as you will see looking for some decent pullbacks to at least the 38%-50% Fibonacci levels. I will not know whether this is too ambitious or whether we have just very shallow retracements to the 23.6% Fibonacci levels until the first European session this week. There were many extreme levels attacked last Friday and we should see a pullback, but there are no guarantees.\r\n\r\nAt least the following charts will give you an idea of my thoughts and all of my comments relating to the potential trades are contained on the charts.\r\n\r\n&nbsp;\r\n\r\n<strong><a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/AUDNZD-D-07112015.png\"><img class=\"aligncenter size-large wp-image-6769\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/AUDNZD-D-07112015-1024x514.png\" alt=\"AUDNZD D 07112015\" width=\"1024\" height=\"514\" /></a> </strong>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/AUDUSD-240M-07112015.png\"><img class=\"aligncenter size-large wp-image-6768\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/AUDUSD-240M-07112015-1024x514.png\" alt=\"AUDUSD 240M 07112015\" width=\"1024\" height=\"514\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/GBPUSD-3D-07112015.png\"><img class=\"aligncenter size-large wp-image-6767\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/GBPUSD-3D-07112015-1024x514.png\" alt=\"GBPUSD 3D 07112015\" width=\"1024\" height=\"514\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/USDCAD-240M-07112015.png\"><img class=\"aligncenter size-large wp-image-6766\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/USDCAD-240M-07112015-1024x514.png\" alt=\"USDCAD 240M 07112015\" width=\"1024\" height=\"514\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/USDCHF-240M-07112015.png\"><img class=\"aligncenter size-large wp-image-6765\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/USDCHF-240M-07112015-1024x514.png\" alt=\"USDCHF 240M 07112015\" width=\"1024\" height=\"514\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/AUDJPY-D-07112015.png\"><img class=\"aligncenter size-large wp-image-6764\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/AUDJPY-D-07112015-1024x514.png\" alt=\"AUDJPY D 07112015\" width=\"1024\" height=\"514\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/EURCAD-W-07112015.png\"><img class=\"aligncenter size-large wp-image-6763\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/EURCAD-W-07112015-1024x514.png\" alt=\"EURCAD W 07112015\" width=\"1024\" height=\"514\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/EURJPY-W-07112015.png\"><img class=\"aligncenter size-large wp-image-6762\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/EURJPY-W-07112015-1024x514.png\" alt=\"EURJPY W 07112015\" width=\"1024\" height=\"514\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/NZDJPY-240M-07112015.png\"><img class=\"aligncenter size-large wp-image-6761\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/NZDJPY-240M-07112015-1024x514.png\" alt=\"NZDJPY 240M 07112015\" width=\"1024\" height=\"514\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n<ol start=\"5\">\r\n	<li><strong> MY FINAL THOUGHTS:</strong></li>\r\n</ol>\r\nOVERVIEW OF TRADING TIPS &amp; THOUGHTS FOR THE WEEK AHEAD:\r\n\r\nFinally, we have a divergent central bank policy moving into position. I think that even the Queen ditherer Janet Yellen will find it very difficult not to raise rates in December at the next FOMC meeting.\r\n\r\nThis should provide us with not just directional trading but also momentum trading, which has not been around for some considerable time.\r\n\r\nThis however, <strong>does mean</strong> green for go get out there and go long the USD all over the place? We have to be selective and allow for consolidation moves to finish their course. This might only take a couple of days, but it could take a couple of weeks and as you know currencies do not move in straight lines they move up and down but can still be overall directional.\r\n\r\nTherefore the best policy is to continue to be patient. Being 100% exact on your entry is pleasing but as we enter the next period in currency markets 100% accuracy in not a pre-requisite. There will be so many pips available that to miss 20-30 may be frustrating and possibly annoying, but it is not the b-all and end all, so to speak.\r\n\r\nEnsure that your TRADE PLANS are adhered to and that you do not over-extend your account through over-leveraging to try to take advantage of the upcoming moves. As stated earlier the FX market does not move in a straight line no matter how directional the market may appear and over-leveraging will only end in tears.\r\n\r\nTake care,\r\n\r\nScott Pickering\r\nThe Pip Accumulator\r\n<a href=\"https://weeklyfxdrivethru.com/disclaimer/\">https://weeklyfxdrivethru.com/disclaimer/\r\n</a>BLOG #80','IS IT JUST ME OR…DOES MARK CARNEY NEVER APPEAR TO GET IT RIGHT?','','inherit','closed','closed','','6770-revision-v1','','','2015-11-07 17:14:23','2015-11-07 22:14:23','',6770,'https://weeklyfxdrivethru.com/6770-revision-v1/',0,'revision','',0),(6772,1,'2015-11-07 17:17:06','2015-11-07 22:17:06','<p style=\"text-align: center;\"><strong>THE PREMIUM SERVICE</strong>\r\n<strong>from the</strong>\r\n<strong>WEEKLY FX DRIVE THRU</strong>\r\n<strong>“The Home of Single Lot Trading”</strong></p>\r\n<strong> </strong>\r\n<ol>\r\n	<li><strong> THE VIEW FROM MY TRADE DESK:</strong></li>\r\n</ol>\r\nLOOKING BACKWARDS, FORWARDS &amp; SIDEWAYS (FOR GOOD MEASURE) AT THE FX MARKET:\r\n\r\n1.1: LOOKING BACKWARDS:\r\n\r\nWell that was a week as far as I am concerned, when the introduction of monetary policy divergence via the world’s major central banks was 95% confirmed. As I wrote last week, the NFP numbers released yesterday had to be an absolute disaster for the FED not to raise interest rates at next month\'s FOMC meeting in December.\r\n\r\nThe numbers were a blowout: -\r\n\r\n<strong>271,000 jobs versus consensus of 181,000</strong>\r\n<strong>Previous month revised up by 12,000.</strong>\r\n\r\n<strong>Unemployment Rate at 5% unchanged</strong>\r\n\r\n<strong>Average Hourly Earnings 0.4% consensus 0.2%</strong>\r\n\r\nAs a result, my divergent trading plan is now in full swing. I have added lots of potential trade set-ups for my subscribers into the Premium Service section of the blog and there are more set-ups to post early next week.\r\n\r\nThe USD is in HUGE breakout territory…see the chart below. In my opinion it is now time to buy the USD on dips.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/DXY-07112015.png\"><img class=\"aligncenter size-large wp-image-6753\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/DXY-07112015-1024x535.png\" alt=\"DXY 07112015\" width=\"1024\" height=\"535\" /></a>\r\n\r\n&nbsp;\r\n\r\nAs you can see in the weekly DXY (USD index) chart above the move higher in the USD was pretty spectacular and later in this blog if you compare chart movements on a weekly basis with the USD major pairs you will see there were moves of 250-300 pips and greater almost across the board. By any stretch of the imagination there is USD power back in the system, there are buyers of the greenback all over the place.\r\n\r\nBe aware though, we should see a period of consolidation as these powerful moves are absorbed and overbought / oversold conditions are worked off. I strongly suggest that you do not do an impression of my male Labrador “Ozzy” who, always jumps in feet first creating an explosion of chaos and disorder. Try to plan your moves, you should have the time. The initial set ups I will be suggesting have very ambitious entry levels. They may require a little bit of tinkering, and whilst I do not mind giving away 20-30 pips on an entry given the circumstances, a 70-90-pip giveaway is in my opinion not that clever. I will be taking my female Labrador\'s approach, “Aoife” who is far more cautious and in comparison to her brother “Ozzy” and does not dive in head first like a bull in a china shop.\r\n\r\nJust look at the charts, so many of the USD majors hit extreme Fibonacci levels and should pullback to re-test breakouts and work off these extreme conditions. But this does not mean that it will happen.\r\n\r\nAhead of the Fed I traded really light. I decided not to go full out with the AUD and NZD news. I just let the existing trades do their stuff and I banked $$$ when I could and closed out many trades just after the BOE “Super Thursday” and ahead of the NFP release. I kept my longer-term trades open into NFP, but decided to take profits on the EUR/USD, USD/CHF and GBP/NZD trades after the news event. Subsequently, I have re-entered these pairs on pullbacks or set up limit orders.\r\n\r\nI have written on many occasions that patience is a virtue with trading. It was very, very hard to keep my hands off the keyboard at times last week, in hindsight, which of course is just a wonderful thing, I probably could have traded a bit more but staying low is a really good discipline at times.\r\n\r\nTo recap, everything now as far as I am concerned is based around solid chart analysis moving forward. The great news is, even if you are bit hit and miss, we are directionally set up, and as such, with entry levels, whilst we always strive to have them a perfect as possible (which is a great discipline), you will not need to be spot on, even those of you who are not 100% confident can be 20-30 pips out on entries in my opinion, as directional moves are about to set in and there should be hundreds, if not thousands of pips available for us to trade with.\r\n\r\n&nbsp;\r\n\r\n1.2: LOOKING FORWARD:\r\n\r\nMAJOR FOREX NEWS THIS WEEK THAT INTERESTS ME:\r\n\r\n(There are many more news items related to the Forex Market other than the ones listed below. These are the ones that interest me. You can go to <a href=\"http://www.forexfactory.com\">www.forexfactory.com</a> and <a href=\"http://www.tradingeconomics.com\">www.tradingeconomics.com</a> for a more comprehensive lists of all news events that are Forex related).\r\nSUNDAY: N/A.\r\n\r\nMONDAY: AUD – NAB Business Confidence.\r\nMONDAY: CNY - CPi.\r\n\r\nTUESDAY: GBP – Inflation Report Hearings.\r\nTUESDAY: NZD – RBNZ financial Stability Report.\r\n\r\nWEDNESDAY: GBP – Jobs Data &amp; words of wisdom from Mark Carney (BOE).\r\nWEDNESDAY: AUD – Jobs Data.\r\n\r\nTHURSDAY: N/A.\r\n\r\nFRIDAY: EUR – German GDP.\r\nFRIDAY: USD – Core Retail Sales and PPi plus UOM Consumer Sentiment.\r\n\r\n&nbsp;\r\n\r\nMY THOUGHTS ON THE NEWS ITEMS THIS COMING WEEK:\r\n\r\nIn comparison to the last two weeks, this coming week is a great deal lighter on economic news data releases.\r\n\r\nThe one item that is not listed above will be all the “FED speak” and the appearance of “EUR numpties” that will emerge from under rocks being dragged onto our TV screens to give as much conflicting news as possible to ensure that they get their 30 second sound-bytes.\r\n\r\nWe have to be aware of this fact, but remember only Janet Yellen’s comments count in the U.S. and Mario Draghi’s in the Eurozone.\r\n\r\nThe likes of CNBC and BLOOMBERG will be looking at the potential targets of USD strength to make as much noise as possible about the pitfalls of a rate hike by the FED. It is not about reporting news nowadays; it’s about trying to make news. The FED sets out monetary policy; it is NOT set by analysis on CNBC or BLOOMBERG. Ben Bernanke announced the change in FED policy last year when tapering completed, we are now at step 2, moving forward with interest rate normalization.\r\n\r\nTherefore, I see commentary and equities driving the Forex Markets this week more than the economic data releases and we should bear in mind that because we are light on USD data in particular, there really is nothing much that could stop the USD from strengthening further.\r\n\r\nHaving just written that please note my thoughts on jumping in too fast as we should in my opinion, see a period of consolidation. Lots of the USD major pairs hit extreme levels that need to be worked off. However, there are no guarantees that the USD will stop when the Asian markets open, it may need Asian traders to flush out their trades after NFP first. The USD should confirm the big move, at this stage these will be the best prices to enter with your trades, the issue is always nobody tells you.\r\n\r\nTherefore, we have to be both patient and ready at the same time!\r\n\r\n&nbsp;\r\n\r\nMY KEY SUPPORT &amp; RESISTANCE LEVELS THIS WEEK FOR USD MAJORS<strong>:</strong>\r\n\r\nIn this section I have as usual kept my charts as minimalist as possible. All readers regardless of level of experience should be able to follow my thoughts from my comments to the levels on the charts with ease.\r\n\r\nAll of my thoughts, ideas and relevant comments are contained on the charts.\r\n\r\n&nbsp;\r\n\r\nEUR/USD - Weekly Closing Price: 1.0745\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/EURUSD-W-07112015.png\"><img class=\"aligncenter size-large wp-image-6755\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/EURUSD-W-07112015-1024x514.png\" alt=\"EURUSD W 07112015\" width=\"1024\" height=\"514\" /></a>\r\n\r\n&nbsp;\r\n\r\nGBP/USD - Weekly Closing Price: 1.5050\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/GBPUSD-W-07112015.png\"><img class=\"aligncenter size-large wp-image-6756\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/GBPUSD-W-07112015-1024x514.png\" alt=\"GBPUSD W 07112015\" width=\"1024\" height=\"514\" /></a>\r\n\r\n&nbsp;\r\n\r\nAUD/USD - Weekly Closing Price: 0.7048\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/AUDUSD-D-07112015.png\"><img class=\"aligncenter size-large wp-image-6754\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/AUDUSD-D-07112015-1024x514.png\" alt=\"AUDUSD D 07112015\" width=\"1024\" height=\"514\" /></a>\r\n\r\n&nbsp;\r\n\r\nNZD/USD - Weekly Closing Price: 0.6523\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/NZDUSD-D-07112015.png\"><img class=\"aligncenter size-large wp-image-6757\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/NZDUSD-D-07112015-1024x514.png\" alt=\"NZDUSD D 07112015\" width=\"1024\" height=\"514\" /></a>\r\n\r\n&nbsp;\r\n\r\nUSD/CAD - Weekly Closing Price: 1.3296\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/USDCAD-D-07112015.png\"><img class=\"aligncenter size-large wp-image-6758\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/USDCAD-D-07112015-1024x514.png\" alt=\"USDCAD D 07112015\" width=\"1024\" height=\"514\" /></a>\r\n\r\n&nbsp;\r\n\r\nUSD/CHF - Weekly Closing Price: 1.0059\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/USDCHF-W-07112015.png\"><img class=\"aligncenter size-large wp-image-6759\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/USDCHF-W-07112015-1024x514.png\" alt=\"USDCHF W 07112015\" width=\"1024\" height=\"514\" /></a>\r\n\r\n&nbsp;\r\n\r\nUSD/JPY - Weekly Closing Price: 123.19\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/USDJPY-W-07112015.png\"><img class=\"aligncenter size-large wp-image-6760\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/USDJPY-W-07112015-1024x514.png\" alt=\"USDJPY W 07112015\" width=\"1024\" height=\"514\" /></a>\r\n\r\n&nbsp;\r\n\r\n1.3: LOOKING SIDEWAYS (FOR GOOD MEASURE):\r\n\r\nOver the past week, I received a couple of communications from subscribers based around trade flexibility, basically stop loss placement.\r\n\r\nI sometimes feel that I have been saying this most of 2015, however more notably just before the summer and again in September when the FOMC missed opportunities to hike interest rates, I have been advising traders to trade smaller position sizes with wider stops.\r\n\r\nThe main reason for this was to give us as traders a greater opportunity to stay alive with trades rather than being stopped out in choppy market conditions. The uncertainty in the Forex markets driven in part, or maybe in whole, by Janet Yellen dithering made it at times a lottery to trade. Yes, there were opportunities, there always are in hindsight, but at the time FUNDAMENTALS and TECHNICALS counted for nothing as currency pairs were dragged beyond key levels of support and resistance causing numerous false breakouts and false breakdowns.\r\n\r\nMany novice traders were lured in, only to be the wrong side of the market and out of cash in loss situations very quickly as the false moves came back into trading ranges.\r\n\r\nWhen setting trades I use Fibonacci levels in conjunction with horizontal support and resistance levels and from these and other charting patterns I select high probability trades. I set my stop losses and limits using the same ideas.\r\n\r\nThis year has been a different year in the way that I have approached trading compared to 2014. In fact it all changed for me after Thomas Jordan (SNB) removed the EUR/CHF peg. The numerous short squeezes’ that followed in the ensuing couple of months from an upset market trying to adjust made me change. I took losses and I had to adjust.\r\n\r\nWhen entering trades I use smaller positions and this allows me greater flexibility. I know at the outset what my RISKS are, based on a full-size position, but I enter on a % of my full-size. This means I can move stop loss positions without fear of breaking my RISK MANAGEMENT levels from within my TRADE PLAN and should the trade turn profitable I can add to the core trade and then adjust my stops either based on the overall trade or treat each trade as an individual trade for RISK MANAGEMENT purposes.\r\n\r\nThis is a far more adaptable and flexible way to trade. Whilst it involves a little more account management of your trades the benefits more than outweigh the time involved checking and validating the adjustments required.\r\n\r\nIt involves my key word for 2015… PATIENCE.\r\n\r\n&nbsp;\r\n\r\n<strong> </strong>\r\n<ol start=\"2\">\r\n	<li><strong> WHAT’S ON MY MIND:</strong></li>\r\n</ol>\r\n<p style=\"text-align: center;\"><strong>IS IT JUST ME OR…</strong>\r\n<strong>DOES MARK CARNEY NEVER APPEAR TO GET IT RIGHT?</strong></p>\r\nI know I repeatedly give Mark Carney a hard time, but lets face facts he is a fecking muppet.\r\n\r\nHe has never delivered on anything since moving from the BOC in 2013, apart from bloody confusion.\r\n\r\nIf his job specification states he has to mislead markets, he would be earning a performance bonus. The fact is that this is not in his job profile. For over a year he has been bullshi****g markets about the state of the UK economy, which must be a nightmare for UK businesses.\r\n\r\nHe is just not credible anymore.\r\n\r\nI recall in the early summer of 2014, my wife and I were driving to Saratoga Springs for a few days R&amp;R, which coincided with Carney’s speech at the London Lord Mayor’s Mansion House dinner. Carney spoke about the state of the UK economy and talked about UK interest rates rising sooner rather later. Over the days that followed he talked down the comments made in his speech and sure enough UK economic data that followed was mixed and cold water was poured on the possibility of an interest rate increase. Obviously in the interim GBP related currency pairs were on fire.\r\n\r\nThis year he has on at least two occasions talked up the fact that the UK interest rates will increase. The most notable occasion was in July at Lincoln Cathedral where he made a major monetary policy speech. The markets just reacted as they do on hearing this, only once again to be disappointed when the economic data that followed showed a completely different picture than that spouted by Carney.\r\n\r\nIn fact at a gathering of central bankers, called BIFFOS (Big Ignorant Feckers Full Of Shite), which I think it was in South America somewhere, Carney even went out in public to say that the UK economy was in great shape and that he would even move rates ahead of the FED. Holy mother of God, in the name of all that is defined as sanity, who, would move ahead of the FED; at the same time maybe, but ahead of the FED?\r\n\r\nMark Carney just cannot be believed; all comments made by him should carry a serious Forex trader warning.\r\n\r\nBelow is a section from my pre BOE trade ideas/update that I sent to my premium service subscribers on 4<sup>th</sup> November 2015.\r\n<p style=\"text-align: center;\"><span style=\"color: #0000ff;\"><strong><em>THE BANK OF ENGLAND - INFLATION REPORT:</em></strong></span></p>\r\n<p style=\"text-align: center;\"><span style=\"color: #0000ff;\"><em>Tomorrow is a big BOE day. Carney will spin a few yarns no doubt about that but it is the INFLATION REPORT that always turns into the market mover. </em></span></p>\r\n<p style=\"text-align: center;\"><span style=\"color: #0000ff;\"><em>I remember a few years ago when the GBP/USD was just above 2.0000 and the then BOE governor Mervyn King painted the UK economy as it was, he pulled no punches and clearly stated where he thought it was going. The GBP/USD waterfalled lower in dramatic style. </em><em> </em></span></p>\r\n<p style=\"text-align: center;\"><span style=\"color: #0000ff;\"><em>This is an important data release and should not be underestimated with its impact.</em><em> </em></span></p>\r\n<em>Given \"The Carney\" effect I see no reason to expect anything other than a big GBP move.</em>\r\n\r\nWhen I wrote about the Carney effect, I really did not think he would have provided such a dovish statement, given that the markets were expecting a hawkish view.\r\n\r\nThe mere fact that Deputy governor Minouche Shafik defended questions stating that the BOE had been wrong-footing investors and households with its various signals on when interest rates may start to rise says it all as far as I am concerned.\r\n\r\nAll the forward guidance given by Carney has been a joke. Since 2013 after Carneys arrival from the BOC, he initially said that when unemployment reached 7% he would look at raising rates. The jobless number fell quite quickly; he pooped his pants and backtracked. Next it was the Oil price that prevented a rate rise.\r\n\r\nMaybe I have him wrong… maybe he is just a ditherer like Janet Yellen?\r\n\r\nSo, last Thursday what were the key points that he hit the markets with?\r\n<ol>\r\n	<li>The BOE MPC voted 8-1 to keep interest rates unchanged. (Ian McCafferty, the one man standing alone looking for a rate increase)</li>\r\n	<li>He stated that the BOE outlook for global growth has weakened since August. He blamed emerging market economies for that weakness, saying that growth in the emerging market regions had slowed markedly.</li>\r\n	<li>The bank expects inflation to rise above its 2% goal in two years. He went on to say that risks lie to the downside during the two-year period. What that means is that just like his predecessor Mervyn King he has NO control whatsoever over inflation growth and just cannot get the sustained growth required to achieve the 2% objective. Ever since I started trading Forex Merve “the swerve” King, never hit this objective and came up with so many “sick note” equivalents of excuses as to why. History is just repeating itself.</li>\r\n	<li>Rising interest rates are now delayed by 10 or 12 months to the end of 2016.</li>\r\n	<li>Yet, Carney once again stated that the UK economy is robust and resilient.</li>\r\n	<li>The Consumer price inflation index, he predicts will be below 1% possibly into the second half of 2016.</li>\r\n</ol>\r\nBasically, it was a very dovish bulletin.\r\n\r\nFrom a Forex trading perspective at least we know where we stand once and for all. I think that Mark Carney after such a dovish collection of statements affecting the UK economic trading conditions will have to crawl back under a rock for at least six months.\r\n\r\nMaybe moving forward, he will think twice before releasing misleading statements, who knows? However, I would imagine that any future comments he makes would be well challenged given this remarkable u-turn. As stated earlier running a business in the UK must have been a nightmare in the past couple of years, at least now it looks like an extended dovish period is in play.\r\n\r\nIn my opinion, we should have a clear six to nine months of policy divergence in the UK (BOE v FED) happy days, as far as I am concerned!!\r\n\r\n<strong> </strong>\r\n<ol start=\"3\">\r\n	<li><strong> THE PREMIUM SERVICE:</strong></li>\r\n</ol>\r\n3.1: SUMMARY OF YEAR TO DATE PERFORMANCE - 2015\r\n<p style=\"text-align: center;\">PREMIUM SERVICE – COST INCOME ANALYSIS (USD):</p>\r\n<p style=\"text-align: center;\">PROFITS FROM TRADE SET-UPS – to November 7th 2015.\r\n(The profit levels below are based on single lot trades only)</p>\r\n<p style=\"text-align: center;\">MICRO LOT TRADER - 589 trades cost to trade = $58.90\r\n<strong>PROFIT</strong> from 589 trades = <strong>$1,071.70</strong></p>\r\n<p style=\"text-align: center;\">MINI LOT TRADER - 589 trades cost to trade = $589.00\r\n<strong>PROFIT</strong> from 589 trades = <strong>$10,717.00</strong></p>\r\n<p style=\"text-align: center;\">STANDARD LOT TRADER - 589 trades cost to trade = $5,890.00\r\n<strong>PROFIT</strong> from 589 trades = <strong>$107,173.00</strong></p>\r\n3.2: PREMIUM SERVICE – TRADE SUMMARIES THIS MONTH:\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/RADAR1-07112015.png\"><img class=\"aligncenter size-full wp-image-6745\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/RADAR1-07112015.png\" alt=\"RADAR1 07112015\" width=\"506\" height=\"543\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/RADAR2-07112015.png\"><img class=\"aligncenter size-full wp-image-6746\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/RADAR2-07112015.png\" alt=\"RADAR2 07112015\" width=\"485\" height=\"543\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/FLASH1-07112015.png\"><img class=\"aligncenter size-full wp-image-6747\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/FLASH1-07112015.png\" alt=\"FLASH1 07112015\" width=\"480\" height=\"544\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/FLASH2-07112015.png\"><img class=\"aligncenter size-full wp-image-6748\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/FLASH2-07112015.png\" alt=\"FLASH2 07112015\" width=\"497\" height=\"540\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/FUN-07112015.png\"><img class=\"aligncenter size-full wp-image-6749\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/FUN-07112015.png\" alt=\"FUN 07112015\" width=\"519\" height=\"533\" /></a>\r\n\r\n&nbsp;\r\n\r\n3.3: PREMIUM SERVICE – 2015 PERFORMANCE TO DATE:\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/PS-PROFITS1-07112015.png\"><img class=\"aligncenter size-full wp-image-6743\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/PS-PROFITS1-07112015.png\" alt=\"PS PROFITS1 07112015\" width=\"527\" height=\"417\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/PS-PROFITS2-07112015.png\"><img class=\"aligncenter size-full wp-image-6744\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/PS-PROFITS2-07112015.png\" alt=\"PS PROFITS2 07112015\" width=\"536\" height=\"416\" /></a>\r\n\r\n&nbsp;\r\n\r\n3.4: PREMIUM SERVICE – 2014 TOTAL PERFORMANCE:\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/12/PREM-SERV-PERF2-31122014.png\"><img class=\"aligncenter size-full wp-image-4962\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/12/PREM-SERV-PERF2-31122014.png\" alt=\"PREM SERV PERF2 31122014\" width=\"470\" height=\"426\" /></a>\r\n\r\n&nbsp;\r\n\r\nNOTES:\r\n<ul>\r\n	<li>If the above return from Forex Trading interests you go to my website landing page at <a href=\"http://www.weeklyfxdrivethru.com\">weeklyfxdrivethru.com</a> and check out the subscription options and special promotions under the tabs “PREMIUM SERVICE” and “PROMOTIONS”</li>\r\n	<li>If you want more data about the performance and my website does not answer your questions, contact me directly and I will supply the data you require.</li>\r\n	<li>THE PREMIUM SERVICE has subscribers with broker accounts of sizes ranging from $2,500 to over $100,000. A profitable trade is a profitable trade. It is all about trading according to the size of your broker account (EFFECTIVE POSITION SIZING) and applying RISK MANAGEMENT principles at all times.</li>\r\n</ul>\r\n<strong> </strong><strong> </strong><strong> </strong>\r\n<ol start=\"4\">\r\n	<li><strong> PREMIUM SERVICE (GOLD) SUBSCRIBER CONTENT:\r\n</strong>(The following section is additional data, thoughts, and ideas exclusively for PREMIUM SERVICE (GOLD) subscribers)</li>\r\n</ol>\r\n4.1: THE PREMIUM SERVICE – TRADING REVIEW:\r\n(A look back at the past week’s highs and lows from trades undertaken):\r\n\r\nLast week was a great week for the PREMIUM SERVICE, especially if you were trading the DIVERGENT FUNDAMENTAL TRADES. Yesterdays NFP saw a blow out number and huge USD strength push through the markets, 790 pips of profit was banked on the back of NFP.\r\n\r\nWe now have divergence to trade from. This should enable not just directional trading but also trading with momentum.\r\n\r\nOut of the 13 completed trades last week only 1 trade was a loss making trade.\r\n\r\nThe loss trade being long GBP/NZD; I entered this trade long on the back of the GBP across the board sell off after the inflation report. I believed that the GBP/USD was oversold at a level of key support; it was also registering a very low RSi (11). I felt that the GBP/USD would bounce and take with it all GBP X rates. However, to my surprise, cable just kept on falling and on a wicked drop lower of about 30 pips in one swoop, my stop accompanied with huge slippage as well was taken. In hindsight, my stop placement was too tight given the volatility associated with this pair.\r\n\r\nMoving forward this week, I am expecting a period of consolidation over the next few days after such a move in the currency market. This period of consolidation will be an opportunity to enter trades at better prices. This is why I was not too concerned about not jumping into too many trades after NFP.\r\n\r\n&nbsp;\r\n\r\n4.2: THE DIVERGENT CB MONETARY POLICY – FUNDAMENTAL TRADES:\r\n\r\nThe initial blast of trades have to be deemed a success. 790 pips banked as profits from just 3 trades. Currently, we have three live trades (EUR/GBP, EUR/USD and NZD/USD) and three more trades with limit order entries (AUD/CHF, USD/CHF and USD/CAD). In addition, before adding more limit orders, I am going to re-assess the existing limit order trades reviewing the entry levels.\r\n\r\nTo re-iterate what I have been saying of late, the DIVERGENT MONETARY POLICY trades should have initial smaller position sizes when entering. My main reason behind this is so that I can have as much flexibility as possible setting stops that can be stretched if required to meet market conditions.\r\n\r\nThe moves after NFP created such oversold conditions that I felt it was prudent and good trading to take $$$ off the table. Given the sizes of the moves there should be plenty of opportunities to re-enter this week. As a hedge against no pullbacks and just pure 100% continuation, I re-entered EUR/USD short just in case we see an Asian meltdown after the open this week.\r\n\r\nI do not want to have 14-15 trades open at once as FUNDAMENTAL TRADES because they can be difficult to manage along with the other daily opportunist and swing trades, plus I am watching the swap rates as these can add up pretty quickly.\r\n\r\nFinally in this section, to trade these DIVERGENT FUNDAMENTAL TRADES separately away from your main broker account, I still believe that if you are trading mini lots that your account should have a balance of between $4,000 and $5,000.\r\n\r\n&nbsp;\r\n\r\n4.3: CHANGES TO MY PREFERRED FX BROKER LINEUP:\r\n\r\nOver the past week many of you have opened up additional broker accounts via the FX broker banners on my website to specifically trade the DIVERGENT CB POLICY FUNDAMENTAL TRADES.\r\n\r\nTrading mini lots and opening an account with $5,000 so far has given you in the first week a profit of $660.00. That is a (13% ROI) on your trading account, for placing 3 trades at a cost of $3.00. Lets hope that this can continue.\r\n\r\nThe remaining three open trades are about $60.00 in the black based on mini lot trading.\r\n\r\nI received a few emails asking would I be adding to my existing line-up of brokers. The answer is yes. During 2015, I have been trading with other brokers through necessity as living in Quebec has issues brought about by the language laws. These laws on the promotion of the French language are in my opinion anti-business and create a real issue for the province through lack of investment. Language is the b-all and end all. The language issues are well documented and are so entrenched; I sometimes feel that until the province is bankrupt with 60-70% unemployment no radical changes will be implemented. From a trading perspective more and more traders are being squeezed out and not granted licenses.\r\n\r\nI had to give up relationships with long standing brokers simply because they would NOT offer a French platform, not just French but Quebec French, which is different. The costs are unreal for brokers, and the benefits practically zero given the take up rate.\r\n\r\nSo, as a result of this, and, knowing that it was coming, I have been “road testing”, new brokers. Some have fallen by the wayside, as they did not meet my criteria even though it was promised but eventually I have ended up with two new brokers who will be added very shortly. Accounts can be opened with them now. Just let me know if you are interested and I will help.\r\n\r\nThe new brokers are Hantec Markets and VanatgeFX. These are added to the existing brokers consisting of Blackwell Global, Fx Pro and AvaTrade; offering five in total.\r\n\r\nI have a few goodies available with VantageFX that can be included but the referral needs to emanate through my website or myself.\r\n\r\nIf you are interested let me know and I will ensure that you have the correct account manager and that if goodies are available you will receive them.\r\n\r\n&nbsp;\r\n\r\n4.4: REVISIONS TO TRADE STYLE DEFINITIONS:\r\n\r\nAs I am now adding what I hope to be longer-term trades based upon “Divergent Central bank Policy” to the PREMIUM SERVICE, I think it is time to re-address the trade styles.\r\n\r\nA couple of you wanted to add a 4<sup>th</sup> trade style to cover these new trades. Instead of doing this I think its easier just to simplify what is there at the moment as follows: -\r\n\r\n<strong>FLASH TRADES:  </strong>\r\nOpportunist trades in LIVE market conditions. These trades are either based off a pullback strategy, a GIMME10 strategy, or off momentum in a trading pair at the time of entry.\r\nThe goal is to either take 10-30 pips or see a sufficient move to place a protective stop in place to see if a swing trade develops.\r\nSome FLASH TRADES may form part of an overall trading plan with a given currency pair, but the entry could not be made via a LIMIT ORDER.\r\n\r\n<strong>RADAR TRADES:  </strong>\r\nThese a pre-meditated entry trades set from either Fibonacci levels, pivot points or previous support and resistance based off a combination of horizontal or trend line support or resistance.\r\nThe goal is always if possible to swing trade these trades by establishing a position that if market conditions apply allow the trade to gather traction and develop into a longer-term position trade.\r\n\r\n<strong>FUNDAMENTAL TRADES:  </strong>\r\nThese will be trades based off my TRADING PLAN goals for trades in line with my longer-term market views.\r\nTrades in this area will use in addition Fibonacci levels, Pivot points, trend lines and prior support and resistance levels, weekly and monthly ATR’s (Average True Ranges) when setting Stop Loss levels. These trades are hopefully of a longer-term nature. They will be initially “single-lot” sized trades due to the wider stop placements that will be applied.\r\n\r\n&nbsp;\r\n\r\n4.5: MAJOR TRADING PAIRS WITH LONGER-TERM MATCHING TRENDS:\r\n(The 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&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/PS-TRENDING-PAIRS-07112015.png\"><img class=\"aligncenter size-full wp-image-6752\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/PS-TRENDING-PAIRS-07112015.png\" alt=\"PS TRENDING PAIRS 07112015\" width=\"486\" height=\"622\" /></a>\r\n\r\n4.6: THE PREMIUM SERVICE - LIVE TRADES ARE:\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/PS-LIVE-TRADES-7112015.png\"><img class=\"aligncenter size-full wp-image-6751\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/PS-LIVE-TRADES-7112015.png\" alt=\"PS LIVE TRADES 7112015\" width=\"693\" height=\"557\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n4.7: THE PREMIUM SERVICE – LIMIT ORDER TRADES ARE:\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/PS-LIMIT-ORDERS-07112015.png\"><img class=\"aligncenter size-full wp-image-6750\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/PS-LIMIT-ORDERS-07112015.png\" alt=\"PS LIMIT ORDERS 07112015\" width=\"682\" height=\"440\" /></a>\r\n\r\n&nbsp;\r\n\r\n4.8: POTENTIAL TRADES - WHAT PAIRS / CHARTS AM I LOOKING AT?\r\n\r\nI have a few in this section and I have absolutely no doubt that when the markets open this week and we have the chance to consolidate the NFP moves there will be in the region of a dozen limit orders in position. I am at this stage, as you will see looking for some decent pullbacks to at least the 38%-50% Fibonacci levels. I will not know whether this is too ambitious or whether we have just very shallow retracements to the 23.6% Fibonacci levels until the first European session this week. There were many extreme levels attacked last Friday and we should see a pullback, but there are no guarantees.\r\n\r\nAt least the following charts will give you an idea of my thoughts and all of my comments relating to the potential trades are contained on the charts.\r\n\r\n&nbsp;\r\n\r\n<strong><a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/AUDNZD-D-07112015.png\"><img class=\"aligncenter size-large wp-image-6769\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/AUDNZD-D-07112015-1024x514.png\" alt=\"AUDNZD D 07112015\" width=\"1024\" height=\"514\" /></a> </strong>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/AUDUSD-240M-07112015.png\"><img class=\"aligncenter size-large wp-image-6768\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/AUDUSD-240M-07112015-1024x514.png\" alt=\"AUDUSD 240M 07112015\" width=\"1024\" height=\"514\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/GBPUSD-3D-07112015.png\"><img class=\"aligncenter size-large wp-image-6767\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/GBPUSD-3D-07112015-1024x514.png\" alt=\"GBPUSD 3D 07112015\" width=\"1024\" height=\"514\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/USDCAD-240M-07112015.png\"><img class=\"aligncenter size-large wp-image-6766\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/USDCAD-240M-07112015-1024x514.png\" alt=\"USDCAD 240M 07112015\" width=\"1024\" height=\"514\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/USDCHF-240M-07112015.png\"><img class=\"aligncenter size-large wp-image-6765\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/USDCHF-240M-07112015-1024x514.png\" alt=\"USDCHF 240M 07112015\" width=\"1024\" height=\"514\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/AUDJPY-D-07112015.png\"><img class=\"aligncenter size-large wp-image-6764\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/AUDJPY-D-07112015-1024x514.png\" alt=\"AUDJPY D 07112015\" width=\"1024\" height=\"514\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/EURCAD-W-07112015.png\"><img class=\"aligncenter size-large wp-image-6763\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/EURCAD-W-07112015-1024x514.png\" alt=\"EURCAD W 07112015\" width=\"1024\" height=\"514\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/EURJPY-W-07112015.png\"><img class=\"aligncenter size-large wp-image-6762\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/EURJPY-W-07112015-1024x514.png\" alt=\"EURJPY W 07112015\" width=\"1024\" height=\"514\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/NZDJPY-240M-07112015.png\"><img class=\"aligncenter size-large wp-image-6761\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/NZDJPY-240M-07112015-1024x514.png\" alt=\"NZDJPY 240M 07112015\" width=\"1024\" height=\"514\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n<ol start=\"5\">\r\n	<li><strong> MY FINAL THOUGHTS:</strong></li>\r\n</ol>\r\nOVERVIEW OF TRADING TIPS &amp; THOUGHTS FOR THE WEEK AHEAD:\r\n\r\nFinally, we have a divergent central bank policy moving into position. I think that even the Queen ditherer Janet Yellen will find it very difficult not to raise rates in December at the next FOMC meeting.\r\n\r\nThis should provide us with not just directional trading but also momentum trading, which has not been around for some considerable time.\r\n\r\nThis however, does not mean green for go get out there and go long the USD all over the place? We have to be selective and allow for consolidation moves to finish their course. This might only take a couple of days, but it could take a couple of weeks and as you know currencies do not move in straight lines they move up and down but can still be overall directional.\r\n\r\nTherefore the best policy is to continue to be patient. Being 100% exact on your entry is pleasing but as we enter the next period in currency markets 100% accuracy in not a pre-requisite. There will be so many pips available that to miss 20-30 may be frustrating and possibly annoying, but it is not the b-all and end all, so to speak.\r\n\r\nEnsure that your TRADE PLANS are adhered to and that you do not over-extend your account through over-leveraging to try to take advantage of the upcoming moves. As stated earlier the FX market does not move in a straight line no matter how directional the market may appear and over-leveraging will only end in tears.\r\n\r\nTake care,\r\n\r\nScott Pickering\r\nThe Pip Accumulator\r\n<a href=\"https://weeklyfxdrivethru.com/disclaimer/\">https://weeklyfxdrivethru.com/disclaimer/\r\n</a>BLOG #80','IS IT JUST ME OR…DOES MARK CARNEY NEVER APPEAR TO GET IT RIGHT?','','inherit','closed','closed','','6770-revision-v1','','','2015-11-07 17:17:06','2015-11-07 22:17:06','',6770,'https://weeklyfxdrivethru.com/6770-revision-v1/',0,'revision','',0),(6777,1,'2015-11-07 17:58:38','2015-11-07 22:58:38','<p style=\"text-align: center;\"><strong>THE PREMIUM SERVICE</strong>\r\n<strong>from the</strong>\r\n<strong>WEEKLY FX DRIVE THRU</strong>\r\n<strong>“The Home of Single Lot Trading”</strong></p>\r\n<strong> </strong>\r\n<ol>\r\n	<li><strong> THE VIEW FROM MY TRADE DESK:</strong></li>\r\n</ol>\r\nLOOKING BACKWARDS, FORWARDS &amp; SIDEWAYS (FOR GOOD MEASURE) AT THE FX MARKET:\r\n\r\n1.1: LOOKING BACKWARDS:\r\n\r\nWell that was a week as far as I am concerned, when the introduction of monetary policy divergence via the world’s major central banks was 95% confirmed. As I wrote last week, the NFP numbers released yesterday had to be an absolute disaster for the FED not to raise interest rates at next months FOMC meeting in December.\r\n\r\nThe numbers were a blowout: -\r\n\r\n<strong>271,000 jobs versus consensus of 181,000</strong>\r\n<strong>Previous month revised up by 12,000.</strong>\r\n\r\n<strong>Unemployment Rate at 5% unchanged</strong>\r\n\r\n<strong>Average Hourly Earnings 0.4% consensus 0.2%</strong>\r\n\r\nAs a result, my divergent trading plan is now in full swing. I have added lots of potential trade set-ups for my subscribers into the Premium Service section of the blog and there are more set-ups to post early next week.\r\n\r\nThe USD is in HUGE breakout territory…see the chart below. In my opinion it is now time to buy the USD on dips.\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/DXY-07112015.png\"><img class=\"aligncenter size-large wp-image-6753\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/DXY-07112015-1024x535.png\" alt=\"DXY 07112015\" width=\"1024\" height=\"535\" /></a>\r\n\r\nAs you can see in the weekly DXY (USD index) chart above the move higher in the USD was pretty spectacular and later in this blog if you compare chart movements on a weekly basis with the USD major pairs you will see there were moves of 250-300 pips and greater almost across the board. By any stretch of the imagination there is USD power back in the system, there are buyers of the greenback all over the place.\r\n\r\nBe aware though, we should see a period of consolidation as these powerful moves are absorbed and overbought / oversold conditions are worked off. I strongly suggest that you do not do an impression of my male Labrador “Ozzy” who, always jumps in feet first creating an explosion of chaos and disorder. Try to plan your moves, you should have the time. The initial set ups I will be suggesting have very ambitious entry levels. They may require a little bit of tinkering, and whilst I do not mind giving away 20-30 pips on an entry given the circumstances, a 70-90-pip giveaway is in my opinion not that clever. I will be taking my female Labrador\'s approach, “Aoife” who is far more cautious and in comparison to her brother “Ozzy” and does not dive in head first like a bull in a china shop.\r\n\r\nJust look at the charts, so many of the USD majors hit extreme Fibonacci levels and should pullback to re-test breakouts and work off these extreme conditions. But this does not mean that it will happen.\r\n\r\nAhead of the Fed I traded really light. I decided not to go full out with the AUD and NZD news. I just let the existing trades do their stuff and I banked $$$ when I could and closed out many trades just after the BOE “Super Thursday” and ahead of the NFP release. I kept my longer-term trades open into NFP, but decided to take profits on the EUR/USD, USD/CHF and GBP/NZD trades after the news event. Subsequently, I have re-entered these pairs on pullbacks or set up limit orders.\r\n\r\nI have written on many occasions that patience is a virtue with trading. It was very, very hard to keep my hands off the keyboard at times last week, in hindsight, which of course is just a wonderful thing, I probably could have traded a bit more but staying low is a really good discipline at times.\r\n\r\nTo recap, everything now as far as I am concerned is based around solid chart analysis moving forward. The great news is, even if you are bit hit and miss, we are directionally set up, and as such, with entry levels, whilst we always strive to have them a perfect as possible (which is a great discipline), you will not need to be spot on, even those of you who are not 100% confident can be 20-30 pips out on entries in my opinion, as directional moves are about to set in and there should be hundreds, if not thousands of pips available for us to trade with.\r\n\r\n&nbsp;\r\n\r\n1.2: LOOKING FORWARD:\r\n\r\nMAJOR FOREX NEWS THIS WEEK THAT INTERESTS ME:\r\n\r\n(There are many more news items related to the Forex Market other than the ones listed below. These are the ones that interest me. You can go to <a href=\"http://www.forexfactory.com\">www.forexfactory.com</a> and <a href=\"http://www.tradingeconomics.com\">www.tradingeconomics.com</a> for a more comprehensive lists of all news events that are Forex related).\r\nSUNDAY: N/A.\r\n\r\nMONDAY: AUD – NAB Business Confidence.\r\nMONDAY: CNY - CPi.\r\n\r\nTUESDAY: GBP – Inflation Report Hearings.\r\nTUESDAY: NZD – RBNZ financial Stability Report.\r\n\r\nWEDNESDAY: GBP – Jobs Data &amp; words of wisdom from Mark Carney (BOE).\r\nWEDNESDAY: AUD – Jobs Data.\r\n\r\nTHURSDAY: N/A.\r\n\r\nFRIDAY: EUR – German GDP.\r\nFRIDAY: USD – Core Retail Sales and PPi plus UOM Consumer Sentiment.\r\n\r\n&nbsp;\r\n\r\nMY THOUGHTS ON THE NEWS ITEMS THIS COMING WEEK:\r\n\r\nIn comparison to the last two weeks, this coming week is a great deal lighter on economic news data releases.\r\n\r\nThe one item that is not listed above will be all the “FED speak” and the appearance of “EUR numpties” that will emerge from under rocks being dragged onto our TV screens to give as much conflicting news as possible to ensure that they get their 30 second sound-bytes.\r\n\r\nWe have to be aware of this fact, but remember only Janet Yellen’s comments count in the U.S. and Mario Draghi’s in the Eurozone.\r\n\r\nThe likes of CNBC and BLOOMBERG will be looking at the potential targets of USD strength to make as much noise as possible about the pitfalls of a rate hike by the FED. It is not about reporting news nowadays; it’s about trying to make news. The FED sets out monetary policy; it is NOT set by analysis on CNBC or BLOOMBERG. Ben Bernanke announced the change in FED policy last year when tapering completed, we are now at step 2, moving forward with interest rate normalization.\r\n\r\nTherefore, I see commentary and equities driving the Forex Markets this week more than the economic data releases and we should bear in mind that because we are light on USD data in particular, there really is nothing much that could stop the USD from strengthening further.\r\n\r\nHaving just written that please note my thoughts on jumping in too fast as we should in my opinion, see a period of consolidation. Lots of the USD major pairs hit extreme levels that need to be worked off. However, there are no guarantees that the USD will stop when the Asian markets open, it may need Asian traders to flush out their trades after NFP first. The USD should confirm the big move, at this stage these will be the best prices to enter with your trades, the issue is always nobody tells you.\r\n\r\nTherefore, we have to be both patient and ready at the same time!\r\n\r\n&nbsp;\r\n\r\nMY KEY SUPPORT &amp; RESISTANCE LEVELS THIS WEEK FOR USD MAJORS<strong>:</strong>\r\n\r\nIn this section I have as usual kept my charts as minimalist as possible. All readers regardless of level of experience should be able to follow my thoughts from my comments to the levels on the charts with ease.\r\n\r\nAll of my thoughts, ideas and relevant comments are contained on the charts.\r\n\r\n&nbsp;\r\n\r\nEUR/USD - Weekly Closing Price: 1.0745\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/EURUSD-W-07112015.png\"><img class=\"aligncenter size-large wp-image-6755\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/EURUSD-W-07112015-1024x514.png\" alt=\"EURUSD W 07112015\" width=\"1024\" height=\"514\" /></a>\r\n\r\n&nbsp;\r\n\r\nGBP/USD - Weekly Closing Price: 1.5050\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/GBPUSD-W-07112015.png\"><img class=\"aligncenter size-large wp-image-6756\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/GBPUSD-W-07112015-1024x514.png\" alt=\"GBPUSD W 07112015\" width=\"1024\" height=\"514\" /></a>\r\n\r\n&nbsp;\r\n\r\nAUD/USD - Weekly Closing Price: 0.7048\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/AUDUSD-D-07112015.png\"><img class=\"aligncenter size-large wp-image-6754\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/AUDUSD-D-07112015-1024x514.png\" alt=\"AUDUSD D 07112015\" width=\"1024\" height=\"514\" /></a>\r\n\r\n&nbsp;\r\n\r\nNZD/USD - Weekly Closing Price: 0.6523\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/NZDUSD-D-07112015.png\"><img class=\"aligncenter size-large wp-image-6757\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/NZDUSD-D-07112015-1024x514.png\" alt=\"NZDUSD D 07112015\" width=\"1024\" height=\"514\" /></a>\r\n\r\n&nbsp;\r\n\r\nUSD/CAD - Weekly Closing Price: 1.3296\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/USDCAD-D-07112015.png\"><img class=\"aligncenter size-large wp-image-6758\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/USDCAD-D-07112015-1024x514.png\" alt=\"USDCAD D 07112015\" width=\"1024\" height=\"514\" /></a>\r\n\r\n&nbsp;\r\n\r\nUSD/CHF - Weekly Closing Price: 1.0059\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/USDCHF-W-07112015.png\"><img class=\"aligncenter size-large wp-image-6759\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/USDCHF-W-07112015-1024x514.png\" alt=\"USDCHF W 07112015\" width=\"1024\" height=\"514\" /></a>\r\n\r\n&nbsp;\r\n\r\nUSD/JPY - Weekly Closing Price: 123.19\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/USDJPY-W-07112015.png\"><img class=\"aligncenter size-large wp-image-6760\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/USDJPY-W-07112015-1024x514.png\" alt=\"USDJPY W 07112015\" width=\"1024\" height=\"514\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n1.3: LOOKING SIDEWAYS (FOR GOOD MEASURE):\r\n\r\nOver the past week, I received a couple of communications from subscribers based around trade flexibility, basically stop loss placement.\r\n\r\nI sometimes feel that I have been saying this most of 2015, however more notably just before the summer and again in September when the FOMC missed opportunities to hike interest rates, I have been advising traders to trade smaller position sizes with wider stops.\r\n\r\nThe main reason for this was to give us as traders a greater opportunity to stay alive with trades rather than being stopped out in choppy market conditions. The uncertainty in the Forex markets driven in part, or maybe in whole, by Janet Yellen dithering made it at times a lottery to trade. Yes, there were opportunities, there always are in hindsight, but at the time FUNDAMENTALS and TECHNICALS counted for nothing as currency pairs were dragged beyond key levels of support and resistance causing numerous false breakouts and false breakdowns.\r\n\r\nMany novice traders were lured in, only to be the wrong side of the market and out of cash in loss situations very quickly as the false moves came back into trading ranges.\r\n\r\nWhen setting trades I use Fibonacci levels in conjunction with horizontal support and resistance levels and from these and other charting patterns I select high probability trades. I set my stop losses and limits using the same ideas.\r\n\r\nThis year has been a different year in the way that I have approached trading compared to 2014. In fact it all changed for me after Thomas Jordan (SNB) removed the EUR/CHF peg. The numerous short squeezes’ that followed in the ensuing couple of months from an upset market trying to adjust made me change. I took losses and I had to adjust.\r\n\r\nWhen entering trades I use smaller positions and this allows me greater flexibility. I know at the outset what my RISKS are, based on a full-size position, but I enter on a % of my full-size. This means I can move stop loss positions without fear of breaking my RISK MANAGEMENT levels from within my TRADE PLAN and should the trade turn profitable I can add to the core trade and then adjust my stops either based on the overall trade or treat each trade as an individual trade for RISK MANAGEMENT purposes.\r\n\r\nThis is a far more adaptable and flexible way to trade. Whilst it involves a little more account management of your trades the benefits more than outweigh the time involved checking and validating the adjustments required.\r\n\r\nIt involves my key word for 2015… PATIENCE.\r\n\r\n<strong> </strong>\r\n<ol start=\"2\">\r\n	<li><strong> WHAT’S ON MY MIND:</strong></li>\r\n</ol>\r\n<p style=\"text-align: center;\"><strong>IS IT JUST ME OR…</strong>\r\n<strong>DOES MARK CARNEY NEVER APPEAR TO GET IT RIGHT?</strong></p>\r\nI know I repeatedly give Mark Carney a hard time, but lets face facts he is a fecking muppet.\r\n\r\nHe has never delivered on anything since moving from the BOC in 2013, apart from bloody confusion.\r\n\r\nIf his job specification states he has to mislead markets, he would be earning a performance bonus. The fact is that this is not in his job profile. For over a year he has been bullshi****g markets about the state of the UK economy, which must be a nightmare for UK businesses.\r\n\r\nHe is just not credible anymore.\r\n\r\nI recall in the early summer of 2014, my wife and I were driving to Saratoga Springs for a few days R&amp;R, which coincided with Carney’s speech at the London Lord Mayor’s Mansion House dinner. Carney spoke about the state of the UK economy and talked about UK interest rates rising sooner rather later. Over the days that followed he talked down the comments made in his speech and sure enough UK economic data that followed was mixed and cold water was poured on the possibility of an interest rate increase. Obviously in the interim GBP related currency pairs were on fire.\r\n\r\nThis year he has on at least two occasions talked up the fact that the UK interest rates will increase. The most notable occasion was in July at Lincoln Cathedral where he made a major monetary policy speech. The markets just reacted as they do on hearing this, only once again to be disappointed when the economic data that followed showed a completely different picture than that spouted by Carney.\r\n\r\nIn fact at a gathering of central bankers, called BIFFOS (Big Ignorant Feckers Full Of Shite), which I think it was in South America somewhere, Carney even went out in public to say that the UK economy was in great shape and that he would even move rates ahead of the FED. Holy mother of God, in the name of all that is defined as sanity, who, would move ahead of the FED; at the same time maybe, but ahead of the FED?\r\n\r\nMark Carney just cannot be believed; all comments made by him should carry a serious Forex trader warning.\r\n\r\nBelow is a section from my pre BOE trade ideas/update that I sent to my premium service subscribers on 4<sup>th</sup> November 2015.\r\n<p style=\"text-align: center;\"><span style=\"color: #0000ff;\"><strong><em>THE BANK OF ENGLAND - INFLATION REPORT:</em></strong></span></p>\r\n<p style=\"text-align: center;\"><span style=\"color: #0000ff;\"><em>Tomorrow is a big BOE day. Carney will spin a few yarns no doubt about that but it is the INFLATION REPORT that always turns into the market mover. </em></span></p>\r\n<p style=\"text-align: center;\"><span style=\"color: #0000ff;\"><em>I remember a few years ago when the GBP/USD was just above 2.0000 and the then BOE governor Mervyn King painted the UK economy as it was, he pulled no punches and clearly stated where he thought it was going. The GBP/USD waterfalled lower in dramatic style. </em></span></p>\r\n<p style=\"text-align: center;\"><span style=\"color: #0000ff;\"><em>This is an important data release and should not be underestimated with its impact.</em></span></p>\r\n<p style=\"text-align: center;\"><span style=\"color: #0000ff;\"><em>Given \"The Carney\" effect I see no reason to expect anything other than a big GBP move.</em></span></p>\r\nWhen I wrote about the Carney effect, I really did not think he would have provided such a dovish statement, given that the markets were expecting a hawkish view.\r\n\r\nThe mere fact that Deputy governor Minouche Shafik defended questions stating that the BOE had been wrong-footing investors and households with its various signals on when interest rates may start to rise says it all as far as I am concerned.\r\n\r\nAll the forward guidance given by Carney has been a joke. Since 2013 after Carneys arrival from the BOC, he initially said that when unemployment reached 7% he would look at raising rates. The jobless number fell quite quickly; he pooped his pants and backtracked. Next it was the Oil price that prevented a rate rise.\r\n\r\nMaybe I have him wrong… maybe he is just a ditherer like Janet Yellen?\r\n\r\nSo, last Thursday what were the key points that he hit the markets with?\r\n<ol>\r\n	<li>The BOE MPC voted 8-1 to keep interest rates unchanged. (Ian McCafferty, the one man standing alone looking for a rate increase)</li>\r\n	<li>He stated that the BOE outlook for global growth has weakened since August. He blamed emerging market economies for that weakness, saying that growth in the emerging market regions had slowed markedly.</li>\r\n	<li>The bank expects inflation to rise above its 2% goal in two years. He went on to say that risks lie to the downside during the two-year period. What that means is that just like his predecessor Mervyn King he has NO control whatsoever over inflation growth and just cannot get the sustained growth required to achieve the 2% objective. Ever since I started trading Forex Merve “the swerve” King, never hit this objective and came up with so many “sick note” equivalents of excuses as to why. History is just repeating itself.</li>\r\n	<li>Rising interest rates are now delayed by 10 or 12 months to the end of 2016.</li>\r\n	<li>Yet, Carney once again stated that the UK economy is robust and resilient.</li>\r\n	<li>The Consumer price inflation index, he predicts will be below 1% possibly into the second half of 2016.</li>\r\n</ol>\r\nBasically, it was a very dovish bulletin.\r\n\r\nFrom a Forex trading perspective at least we know where we stand once and for all. I think that Mark Carney after such a dovish collection of statements affecting the UK economic trading conditions will have to crawl back under a rock for at least six months.\r\n\r\nMaybe moving forward, he will think twice before releasing misleading statements, who knows? However I would imagine that any future comments he makes would be well challenged given this remarkable u-turn. As stated earlier running a business in the UK must have been a nightmare in the past couple of years, at least now it looks like an extended dovish period is in play.\r\n\r\nIn my opinion we should have a clear six to nine months of policy divergence in the UK (BOE v FED) happy days, as far as I am concerned!!\r\n\r\n&nbsp;\r\n\r\n<strong> </strong>\r\n<ol start=\"3\">\r\n	<li><strong> THE PREMIUM SERVICE:</strong></li>\r\n</ol>\r\n3.1: SUMMARY OF YEAR TO DATE PERFORMANCE - 2015:\r\n<p style=\"text-align: center;\">PREMIUM SERVICE – COST INCOME ANALYSIS (USD):</p>\r\n<p style=\"text-align: center;\">PROFITS FROM TRADE SET-UPS – to November 7th 2015.\r\n(The profit levels below are based on single lot trades only)</p>\r\n<p style=\"text-align: center;\">MICRO LOT TRADER - 589 trades cost to trade = $58.90\r\n<strong>PROFIT</strong> from 589 trades = <strong>$1,071.70</strong></p>\r\n<p style=\"text-align: center;\">MINI LOT TRADER - 589 trades cost to trade = $589.00\r\n<strong>PROFIT</strong> from 589 trades = <strong>$10,717.00</strong></p>\r\n<p style=\"text-align: center;\">STANDARD LOT TRADER - 589 trades cost to trade = $5,890.00\r\n<strong>PROFIT</strong> from 589 trades = <strong>$107,173.00</strong></p>\r\n3.2: PREMIUM SERVICE – TRADE SUMMARIES THIS MONTH:\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/RADAR1-07112015.png\"><img class=\"aligncenter size-full wp-image-6745\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/RADAR1-07112015.png\" alt=\"RADAR1 07112015\" width=\"506\" height=\"543\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/RADAR2-07112015.png\"><img class=\"aligncenter size-full wp-image-6746\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/RADAR2-07112015.png\" alt=\"RADAR2 07112015\" width=\"485\" height=\"543\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/FLASH1-07112015.png\"><img class=\"aligncenter size-full wp-image-6747\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/FLASH1-07112015.png\" alt=\"FLASH1 07112015\" width=\"480\" height=\"544\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/FLASH2-07112015.png\"><img class=\"aligncenter size-full wp-image-6748\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/FLASH2-07112015.png\" alt=\"FLASH2 07112015\" width=\"497\" height=\"540\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/FUN-07112015.png\"><img class=\"aligncenter size-full wp-image-6749\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/FUN-07112015.png\" alt=\"FUN 07112015\" width=\"519\" height=\"533\" /></a>\r\n\r\n&nbsp;\r\n\r\n3.3: PREMIUM SERVICE – 2015 PERFORMANCE TO DATE:\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/PS-PROFITS1-07112015.png\"><img class=\"aligncenter size-full wp-image-6743\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/PS-PROFITS1-07112015.png\" alt=\"PS PROFITS1 07112015\" width=\"527\" height=\"417\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/PS-PROFITS2-07112015.png\"><img class=\"aligncenter size-full wp-image-6744\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/PS-PROFITS2-07112015.png\" alt=\"PS PROFITS2 07112015\" width=\"536\" height=\"416\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n3.4: PREMIUM SERVICE – 2014 TOTAL PERFORMANCE:\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/12/PREM-SERV-PERF2-31122014.png\"><img class=\"aligncenter size-full wp-image-4962\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/12/PREM-SERV-PERF2-31122014.png\" alt=\"PREM SERV PERF2 31122014\" width=\"470\" height=\"426\" /></a>\r\n\r\n&nbsp;\r\n\r\nNOTES:\r\n<ul>\r\n	<li>If the above return from Forex Trading interests you go to my website landing page at <a href=\"http://www.weeklyfxdrivethru.com\">weeklyfxdrivethru.com</a> and check out the subscription options and special promotions under the tabs “PREMIUM SERVICE” and “PROMOTIONS”</li>\r\n	<li>If you want more data about the performance and my website does not answer your questions, contact me directly and I will supply the data you require.</li>\r\n	<li>THE PREMIUM SERVICE has subscribers with broker accounts of sizes ranging from $2,500 to over $100,000. A profitable trade is a profitable trade. It is all about trading according to the size of your broker account (EFFECTIVE POSITION SIZING) and applying RISK MANAGEMENT principles at all times.</li>\r\n</ul>\r\n<strong> </strong><strong> </strong>\r\n<ol start=\"4\">\r\n	<li><strong> PREMIUM SERVICE (GOLD) SUBSCRIBER CONTENT:</strong></li>\r\n</ol>\r\n(The following section is additional data, thoughts, and ideas exclusively for PREMIUM SERVICE (GOLD) subscribers)\r\n\r\n4.1: THE PREMIUM SERVICE – TRADING REVIEW:\r\n\r\n4.2: THE DIVERGENT CB MONETARY POLICY – FUNDAMENTAL TRADES:\r\n\r\n4.3: CHANGES TO MY PREFERRED FX BROKER LINEUP:\r\n\r\n4.4: REVISIONS TO TRADE STYLE DEFINITIONS:\r\n\r\n4.5: MAJOR TRADING PAIRS WITH LONGER-TERM MATCHING TRENDS:\r\n\r\n4.6: THE PREMIUM SERVICE - LIVE TRADES ARE:\r\n\r\n4.7: THE PREMIUM SERVICE – LIMIT ORDER TRADES ARE:\r\n\r\n4.8: POTENTIAL TRADES - WHAT PAIRS / CHARTS AM I LOOKING AT?\r\n\r\n<strong> </strong>\r\n<ol start=\"5\">\r\n	<li><strong> MY FINAL THOUGHTS:</strong></li>\r\n</ol>\r\nOVERVIEW OF TRADING TIPS &amp; THOUGHTS FOR THE WEEK AHEAD:\r\n\r\nFinally, we have a divergent central bank policy moving into position. I think that even the Queen ditherer Janet Yellen will find it very difficult not to raise rates in December at the next FOMC meeting.\r\n\r\nThis should provide us with not just directional trading but also momentum trading, which has not been around for some considerable time.\r\n\r\nThis however, does not mean green for go get out there and go long the USD all over the place? We have to be selective and allow for consolidation moves to finish their course. This might only take a couple of days, but it could take a couple of weeks and as you know currencies do not move in straight lines they move up and down but can still be overall directional.\r\n\r\nTherefore the best policy is to continue to be patient. Being 100% exact on your entry is pleasing but as we enter the next period in currency markets 100% accuracy in not a pre-requisite. There will be so many pips available that to miss 20-30 may be frustrating and possibly annoying, but it is not the b-all and end all, so to speak.\r\n\r\nEnsure that your TRADE PLANS are adhered to and that you do not over-extend your account through over-leveraging to try to take advantage of the upcoming moves. As stated earlier the FX market does not move in a straight line no matter how directional the market may appear and over-leveraging will only end in tears.\r\n\r\nTake care,\r\n\r\nScott Pickering\r\nThe Pip Accumulator\r\n<a href=\"https://weeklyfxdrivethru.com/disclaimer/\">https://weeklyfxdrivethru.com/disclaimer/\r\n</a>BLOG #176','IS IT JUST ME OR…DOES MARK CARNEY NEVER APPEAR TO GET IT RIGHT?','','publish','open','closed','','is-it-just-me-ordoes-mark-carney-never-appear-to-get-it-right','','','2015-11-07 17:58:38','2015-11-07 22:58:38','',0,'https://weeklyfxdrivethru.com/?p=6777',0,'post','',0),(6778,1,'2015-11-07 17:56:35','2015-11-07 22:56:35','<p style=\"text-align: center;\"><strong>THE PREMIUM SERVICE</strong>\r\n<strong>from the</strong>\r\n<strong>WEEKLY FX DRIVE THRU</strong>\r\n<strong>“The Home of Single Lot Trading”</strong></p>\r\n<strong> </strong>\r\n<ol>\r\n	<li><strong> THE VIEW FROM MY TRADE DESK:</strong></li>\r\n</ol>\r\nLOOKING BACKWARDS, FORWARDS &amp; SIDEWAYS (FOR GOOD MEASURE) AT THE FX MARKET:\r\n\r\n1.1: LOOKING BACKWARDS:\r\n\r\nWell that was a week as far as I am concerned, when the introduction of monetary policy divergence via the world’s major central banks was 95% confirmed. As I wrote last week, the NFP numbers released yesterday had to be an absolute disaster for the FED not to raise interest rates at next months FOMC meeting in December.\r\n\r\nThe numbers were a blowout: -\r\n\r\n<strong>271,000 jobs versus consensus of 181,000</strong>\r\n<strong>Previous month revised up by 12,000.</strong>\r\n\r\n<strong>Unemployment Rate at 5% unchanged</strong>\r\n\r\n<strong>Average Hourly Earnings 0.4% consensus 0.2%</strong>\r\n\r\nAs a result, my divergent trading plan is now in full swing. I have added lots of potential trade set-ups for my subscribers into the Premium Service section of the blog and there are more set-ups to post early next week.\r\n\r\nThe USD is in HUGE breakout territory…see the chart below. In my opinion it is now time to buy the USD on dips.\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/DXY-07112015.png\"><img class=\"aligncenter size-large wp-image-6753\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/DXY-07112015-1024x535.png\" alt=\"DXY 07112015\" width=\"1024\" height=\"535\" /></a>\r\n\r\nAs you can see in the weekly DXY (USD index) chart above the move higher in the USD was pretty spectacular and later in this blog if you compare chart movements on a weekly basis with the USD major pairs you will see there were moves of 250-300 pips and greater almost across the board. By any stretch of the imagination there is USD power back in the system, there are buyers of the greenback all over the place.\r\n\r\nBe aware though, we should see a period of consolidation as these powerful moves are absorbed and overbought / oversold conditions are worked off. I strongly suggest that you do not do an impression of my male Labrador “Ozzy” who, always jumps in feet first creating an explosion of chaos and disorder. Try to plan your moves, you should have the time. The initial set ups I will be suggesting have very ambitious entry levels. They may require a little bit of tinkering, and whilst I do not mind giving away 20-30 pips on an entry given the circumstances, a 70-90-pip giveaway is in my opinion not that clever. I will be taking my female Labradors approach, “Aoife” who is far more cautious and in comparison to her brother “Ozzy” and does not dive in head first like a bull in a china shop.\r\n\r\nJust look at the charts, so many of the USD majors hit extreme Fibonacci levels and should pullback to re-test breakouts and work off these extreme conditions. But this does not mean that it will happen.\r\n\r\nAhead of the Fed I traded really light. I decided not to go full out with the AUD and NZD news. I just let the existing trades do their stuff and I banked $$$ when I could and closed out many trades just after the BOE “Super Thursday” and ahead of the NFP release. I kept my longer-term trades open into NFP, but decided to take profits on the EUR/USD, USD/CHF and GBP/NZD trades after the news event. Subsequently, I have re-entered these pairs on pullbacks or set up limit orders.\r\n\r\nI have written on many occasions that patience is a virtue with trading. It was very, very hard to keep my hands off the keyboard at times last week, in hindsight, which of course is just a wonderful thing, I probably could have traded a bit more but staying low is a really good discipline at times.\r\n\r\nTo recap, everything now as far as I am concerned is based around solid chart analysis moving forward. The great news is, even if you are bit hit and miss, we are directionally set up, and as such, with entry levels, whilst we always strive to have them a perfect as possible (which is a great discipline), you will not need to be spot on, even those of you who are not 100% confident can be 20-30 pips out on entries in my opinion, as directional moves are about to set in and there should be hundreds, if not thousands of pips available for us to trade with.\r\n\r\n&nbsp;\r\n\r\n1.2: LOOKING FORWARD:\r\n\r\nMAJOR FOREX NEWS THIS WEEK THAT INTERESTS ME:\r\n\r\n(There are many more news items related to the Forex Market other than the ones listed below. These are the ones that interest me. You can go to <a href=\"http://www.forexfactory.com\">www.forexfactory.com</a> and <a href=\"http://www.tradingeconomics.com\">www.tradingeconomics.com</a> for a more comprehensive lists of all news events that are Forex related).\r\nSUNDAY: N/A.\r\n\r\nMONDAY: AUD – NAB Business Confidence.\r\nMONDAY: CNY - CPi.\r\n\r\nTUESDAY: GBP – Inflation Report Hearings.\r\nTUESDAY: NZD – RBNZ financial Stability Report.\r\n\r\nWEDNESDAY: GBP – Jobs Data &amp; words of wisdom from Mark Carney (BOE).\r\nWEDNESDAY: AUD – Jobs Data.\r\n\r\nTHURSDAY: N/A.\r\n\r\nFRIDAY: EUR – German GDP.\r\nFRIDAY: USD – Core Retail Sales and PPi plus UOM Consumer Sentiment.\r\n\r\n&nbsp;\r\n\r\nMY THOUGHTS ON THE NEWS ITEMS THIS COMING WEEK:\r\n\r\nIn comparison to the last two weeks, this coming week is a great deal lighter on economic news data releases.\r\n\r\nThe one item that is not listed above will be all the “FED speak” and the appearance of “EUR numpties” that will emerge from under rocks being dragged onto our TV screens to give as much conflicting news as possible to ensure that they get their 30 second sound-bytes.\r\n\r\nWe have to be aware of this fact, but remember only Janet Yellen’s comments count in the U.S. and Mario Draghi’s in the Eurozone.\r\n\r\nThe likes of CNBC and BLOOMBERG will be looking at the potential targets of USD strength to make as much noise as possible about the pitfalls of a rate hike by the FED. It is not about reporting news nowadays; it’s about trying to make news. The FED sets out monetary policy; it is NOT set by analysis on CNBC or BLOOMBERG. Ben Bernanke announced the change in FED policy last year when tapering completed, we are now at step 2, moving forward with interest rate normalization.\r\n\r\nTherefore, I see commentary and equities driving the Forex Markets this week more than the economic data releases and we should bear in mind that because we are light on USD data in particular, there really is nothing much that could stop the USD from strengthening further.\r\n\r\nHaving just written that please note my thoughts on jumping in too fast as we should in my opinion, see a period of consolidation. Lots of the USD major pairs hit extreme levels that need to be worked off. However, there are no guarantees that the USD will stop when the Asian markets open, it may need Asian traders to flush out their trades after NFP first. The USD should confirm the big move, at this stage these will be the best prices to enter with your trades, the issue is always nobody tells you.\r\n\r\nTherefore, we have to be both patient and ready at the same time!\r\n\r\n&nbsp;\r\n\r\nMY KEY SUPPORT &amp; RESISTANCE LEVELS THIS WEEK FOR USD MAJORS<strong>:</strong>\r\n\r\nIn this section I have as usual kept my charts as minimalist as possible. All readers regardless of level of experience should be able to follow my thoughts from my comments to the levels on the charts with ease.\r\n\r\nAll of my thoughts, ideas and relevant comments are contained on the charts.\r\n\r\n&nbsp;\r\n\r\nEUR/USD - Weekly Closing Price: 1.0745\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/EURUSD-W-07112015.png\"><img class=\"aligncenter size-large wp-image-6755\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/EURUSD-W-07112015-1024x514.png\" alt=\"EURUSD W 07112015\" width=\"1024\" height=\"514\" /></a>\r\n\r\n&nbsp;\r\n\r\nGBP/USD - Weekly Closing Price: 1.5050\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/GBPUSD-W-07112015.png\"><img class=\"aligncenter size-large wp-image-6756\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/GBPUSD-W-07112015-1024x514.png\" alt=\"GBPUSD W 07112015\" width=\"1024\" height=\"514\" /></a>\r\n\r\n&nbsp;\r\n\r\nAUD/USD - Weekly Closing Price: 0.7048\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/AUDUSD-D-07112015.png\"><img class=\"aligncenter size-large wp-image-6754\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/AUDUSD-D-07112015-1024x514.png\" alt=\"AUDUSD D 07112015\" width=\"1024\" height=\"514\" /></a>\r\n\r\n&nbsp;\r\n\r\nNZD/USD - Weekly Closing Price: 0.6523\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/NZDUSD-D-07112015.png\"><img class=\"aligncenter size-large wp-image-6757\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/NZDUSD-D-07112015-1024x514.png\" alt=\"NZDUSD D 07112015\" width=\"1024\" height=\"514\" /></a>\r\n\r\n&nbsp;\r\n\r\nUSD/CAD - Weekly Closing Price: 1.3296\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/USDCAD-D-07112015.png\"><img class=\"aligncenter size-large wp-image-6758\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/USDCAD-D-07112015-1024x514.png\" alt=\"USDCAD D 07112015\" width=\"1024\" height=\"514\" /></a>\r\n\r\n&nbsp;\r\n\r\nUSD/CHF - Weekly Closing Price: 1.0059\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/USDCHF-W-07112015.png\"><img class=\"aligncenter size-large wp-image-6759\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/USDCHF-W-07112015-1024x514.png\" alt=\"USDCHF W 07112015\" width=\"1024\" height=\"514\" /></a>\r\n\r\n&nbsp;\r\n\r\nUSD/JPY - Weekly Closing Price: 123.19\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/USDJPY-W-07112015.png\"><img class=\"aligncenter size-large wp-image-6760\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/USDJPY-W-07112015-1024x514.png\" alt=\"USDJPY W 07112015\" width=\"1024\" height=\"514\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n1.3: LOOKING SIDEWAYS (FOR GOOD MEASURE):\r\n\r\nOver the past week, I received a couple of communications from subscribers based around trade flexibility, basically stop loss placement.\r\n\r\nI sometimes feel that I have been saying this most of 2015, however more notably just before the summer and again in September when the FOMC missed opportunities to hike interest rates, I have been advising traders to trade smaller position sizes with wider stops.\r\n\r\nThe main reason for this was to give us as traders a greater opportunity to stay alive with trades rather than being stopped out in choppy market conditions. The uncertainty in the Forex markets driven in part, or maybe in whole, by Janet Yellen dithering made it at times a lottery to trade. Yes, there were opportunities, there always are in hindsight, but at the time FUNDAMENTALS and TECHNICALS counted for nothing as currency pairs were dragged beyond key levels of support and resistance causing numerous false breakouts and false breakdowns.\r\n\r\nMany novice traders were lured in, only to be the wrong side of the market and out of cash in loss situations very quickly as the false moves came back into trading ranges.\r\n\r\nWhen setting trades I use Fibonacci levels in conjunction with horizontal support and resistance levels and from these and other charting patterns I select high probability trades. I set my stop losses and limits using the same ideas.\r\n\r\nThis year has been a different year in the way that I have approached trading compared to 2014. In fact it all changed for me after Thomas Jordan (SNB) removed the EUR/CHF peg. The numerous short squeezes’ that followed in the ensuing couple of months from an upset market trying to adjust made me change. I took losses and I had to adjust.\r\n\r\nWhen entering trades I use smaller positions and this allows me greater flexibility. I know at the outset what my RISKS are, based on a full-size position, but I enter on a % of my full-size. This means I can move stop loss positions without fear of breaking my RISK MANAGEMENT levels from within my TRADE PLAN and should the trade turn profitable I can add to the core trade and then adjust my stops either based on the overall trade or treat each trade as an individual trade for RISK MANAGEMENT purposes.\r\n\r\nThis is a far more adaptable and flexible way to trade. Whilst it involves a little more account management of your trades the benefits more than outweigh the time involved checking and validating the adjustments required.\r\n\r\nIt involves my key word for 2015… PATIENCE.\r\n\r\n<strong> </strong>\r\n<ol start=\"2\">\r\n	<li><strong> WHAT’S ON MY MIND:</strong></li>\r\n</ol>\r\n<p style=\"text-align: center;\"><strong>IS IT JUST ME OR…</strong>\r\n<strong>DOES MARK CARNEY NEVER APPEAR TO GET IT RIGHT?</strong></p>\r\nI know I repeatedly give Mark Carney a hard time, but lets face facts he is a fecking muppet.\r\n\r\nHe has never delivered on anything since moving from the BOC in 2013, apart from bloody confusion.\r\n\r\nIf his job specification states he has to mislead markets, he would be earning a performance bonus. The fact is that this is not in his job profile. For over a year he has been bullshi****g markets about the state of the UK economy, which must be a nightmare for UK businesses.\r\n\r\nHe is just not credible anymore.\r\n\r\nI recall in the early summer of 2014, my wife and I were driving to Saratoga Springs for a few days R&amp;R, which coincided with Carney’s speech at the London Lord Mayor’s Mansion House dinner. Carney spoke about the state of the UK economy and talked about UK interest rates rising sooner rather later. Over the days that followed he talked down the comments made in his speech and sure enough UK economic data that followed was mixed and cold water was poured on the possibility of an interest rate increase. Obviously in the interim GBP related currency pairs were on fire.\r\n\r\nThis year he has on at least two occasions talked up the fact that the UK interest rates will increase. The most notable occasion was in July at Lincoln Cathedral where he made a major monetary policy speech. The markets just reacted as they do on hearing this, only once again to be disappointed when the economic data that followed showed a completely different picture than that spouted by Carney.\r\n\r\nIn fact at a gathering of central bankers, called BIFFOS (Big Ignorant Feckers Full Of Shite), which I think it was in South America somewhere, Carney even went out in public to say that the UK economy was in great shape and that he would even move rates ahead of the FED. Holy mother of God, in the name of all that is defined as sanity, who, would move ahead of the FED; at the same time maybe, but ahead of the FED?\r\n\r\nMark Carney just cannot be believed; all comments made by him should carry a serious Forex trader warning.\r\n\r\nBelow is a section from my pre BOE trade ideas/update that I sent to my premium service subscribers on 4<sup>th</sup> November 2015.\r\n<p style=\"text-align: center;\"><span style=\"color: #0000ff;\"><strong><em>THE BANK OF ENGLAND - INFLATION REPORT:</em></strong></span></p>\r\n<p style=\"text-align: center;\"><span style=\"color: #0000ff;\"><em>Tomorrow is a big BOE day. Carney will spin a few yarns no doubt about that but it is the INFLATION REPORT that always turns into the market mover. </em></span></p>\r\n<p style=\"text-align: center;\"><span style=\"color: #0000ff;\"><em>I remember a few years ago when the GBP/USD was just above 2.0000 and the then BOE governor Mervyn King painted the UK economy as it was, he pulled no punches and clearly stated where he thought it was going. The GBP/USD waterfalled lower in dramatic style. </em></span></p>\r\n<p style=\"text-align: center;\"><span style=\"color: #0000ff;\"><em>This is an important data release and should not be underestimated with its impact.</em></span></p>\r\n<p style=\"text-align: center;\"><span style=\"color: #0000ff;\"><em>Given \"The Carney\" effect I see no reason to expect anything other than a big GBP move.</em></span></p>\r\nWhen I wrote about the Carney effect, I really did not think he would have provided such a dovish statement, given that the markets were expecting a hawkish view.\r\n\r\nThe mere fact that Deputy governor Minouche Shafik defended questions stating that the BOE had been wrong-footing investors and households with its various signals on when interest rates may start to rise says it all as far as I am concerned.\r\n\r\nAll the forward guidance given by Carney has been a joke. Since 2013 after Carneys arrival from the BOC, he initially said that when unemployment reached 7% he would look at raising rates. The jobless number fell quite quickly; he pooped his pants and backtracked. Next it was the Oil price that prevented a rate rise.\r\n\r\nMaybe I have him wrong… maybe he is just a ditherer like Janet Yellen?\r\n\r\nSo, last Thursday what were the key points that he hit the markets with?\r\n<ol>\r\n	<li>The BOE MPC voted 8-1 to keep interest rates unchanged. (Ian McCafferty, the one man standing alone looking for a rate increase)</li>\r\n	<li>He stated that the BOE outlook for global growth has weakened since August. He blamed emerging market economies for that weakness, saying that growth in the emerging market regions had slowed markedly.</li>\r\n	<li>The bank expects inflation to rise above its 2% goal in two years. He went on to say that risks lie to the downside during the two-year period. What that means is that just like his predecessor Mervyn King he has NO control whatsoever over inflation growth and just cannot get the sustained growth required to achieve the 2% objective. Ever since I started trading Forex Merve “the swerve” King, never hit this objective and came up with so many “sick note” equivalents of excuses as to why. History is just repeating itself.</li>\r\n	<li>Rising interest rates are now delayed by 10 or 12 months to the end of 2016.</li>\r\n	<li>Yet, Carney once again stated that the UK economy is robust and resilient.</li>\r\n	<li>The Consumer price inflation index, he predicts will be below 1% possibly into the second half of 2016.</li>\r\n</ol>\r\nBasically, it was a very dovish bulletin.\r\n\r\nFrom a Forex trading perspective at least we know where we stand once and for all. I think that Mark Carney after such a dovish collection of statements affecting the UK economic trading conditions will have to crawl back under a rock for at least six months.\r\n\r\nMaybe moving forward, he will think twice before releasing misleading statements, who knows? However I would imagine that any future comments he makes would be well challenged given this remarkable u-turn. As stated earlier running a business in the UK must have been a nightmare in the past couple of years, at least now it looks like an extended dovish period is in play.\r\n\r\nIn my opinion we should have a clear six to nine months of policy divergence in the UK (BOE v FED) happy days, as far as I am concerned!!\r\n\r\n&nbsp;\r\n\r\n<strong> </strong>\r\n<ol start=\"3\">\r\n	<li><strong> THE PREMIUM SERVICE:</strong></li>\r\n</ol>\r\n3.1: SUMMARY OF YEAR TO DATE PERFORMANCE - 2015:\r\n<p style=\"text-align: center;\">PREMIUM SERVICE – COST INCOME ANALYSIS (USD):</p>\r\n<p style=\"text-align: center;\">PROFITS FROM TRADE SET-UPS – to November 7th 2015.\r\n(The profit levels below are based on single lot trades only)</p>\r\n<p style=\"text-align: center;\">MICRO LOT TRADER - 589 trades cost to trade = $58.90\r\n<strong>PROFIT</strong> from 589 trades = <strong>$1,071.70</strong></p>\r\n<p style=\"text-align: center;\">MINI LOT TRADER - 589 trades cost to trade = $589.00\r\n<strong>PROFIT</strong> from 589 trades = <strong>$10,717.00</strong></p>\r\n<p style=\"text-align: center;\">STANDARD LOT TRADER - 589 trades cost to trade = $5,890.00\r\n<strong>PROFIT</strong> from 589 trades = <strong>$107,173.00</strong></p>\r\n<p style=\"text-align: center;\"></p>\r\n3.2: PREMIUM SERVICE – TRADE SUMMARIES THIS MONTH:\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/RADAR1-07112015.png\"><img class=\"aligncenter size-full wp-image-6745\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/RADAR1-07112015.png\" alt=\"RADAR1 07112015\" width=\"506\" height=\"543\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/RADAR2-07112015.png\"><img class=\"aligncenter size-full wp-image-6746\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/RADAR2-07112015.png\" alt=\"RADAR2 07112015\" width=\"485\" height=\"543\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/FLASH1-07112015.png\"><img class=\"aligncenter size-full wp-image-6747\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/FLASH1-07112015.png\" alt=\"FLASH1 07112015\" width=\"480\" height=\"544\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/FLASH2-07112015.png\"><img class=\"aligncenter size-full wp-image-6748\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/FLASH2-07112015.png\" alt=\"FLASH2 07112015\" width=\"497\" height=\"540\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/FUN-07112015.png\"><img class=\"aligncenter size-full wp-image-6749\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/FUN-07112015.png\" alt=\"FUN 07112015\" width=\"519\" height=\"533\" /></a>\r\n\r\n&nbsp;\r\n\r\n3.3: PREMIUM SERVICE – 2015 PERFORMANCE TO DATE:\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/PS-PROFITS1-07112015.png\"><img class=\"aligncenter size-full wp-image-6743\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/PS-PROFITS1-07112015.png\" alt=\"PS PROFITS1 07112015\" width=\"527\" height=\"417\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/PS-PROFITS2-07112015.png\"><img class=\"aligncenter size-full wp-image-6744\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/PS-PROFITS2-07112015.png\" alt=\"PS PROFITS2 07112015\" width=\"536\" height=\"416\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n3.4: PREMIUM SERVICE – 2014 TOTAL PERFORMANCE:\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/12/PREM-SERV-PERF2-31122014.png\"><img class=\"aligncenter size-full wp-image-4962\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/12/PREM-SERV-PERF2-31122014.png\" alt=\"PREM SERV PERF2 31122014\" width=\"470\" height=\"426\" /></a>\r\n\r\n&nbsp;\r\n\r\nNOTES:\r\n<ul>\r\n	<li>If the above return from Forex Trading interests you go to my website landing page at <a href=\"http://www.weeklyfxdrivethru.com\">weeklyfxdrivethru.com</a> and check out the subscription options and special promotions under the tabs “PREMIUM SERVICE” and “PROMOTIONS”</li>\r\n	<li>If you want more data about the performance and my website does not answer your questions, contact me directly and I will supply the data you require.</li>\r\n	<li>THE PREMIUM SERVICE has subscribers with broker accounts of sizes ranging from $2,500 to over $100,000. A profitable trade is a profitable trade. It is all about trading according to the size of your broker account (EFFECTIVE POSITION SIZING) and applying RISK MANAGEMENT principles at all times.</li>\r\n</ul>\r\n<strong> </strong><strong> </strong>\r\n<ol start=\"4\">\r\n	<li><strong> PREMIUM SERVICE (GOLD) SUBSCRIBER CONTENT:</strong></li>\r\n</ol>\r\n(The following section is additional data, thoughts, and ideas exclusively for PREMIUM SERVICE (GOLD) subscribers)\r\n\r\n4.1: THE PREMIUM SERVICE – TRADING REVIEW:\r\n\r\n4.2: THE DIVERGENT CB MONETARY POLICY – FUNDAMENTAL TRADES:\r\n\r\n4.3: CHANGES TO MY PREFERRED FX BROKER LINEUP:\r\n\r\n4.4: REVISIONS TO TRADE STYLE DEFINITIONS:\r\n\r\n4.5: MAJOR TRADING PAIRS WITH LONGER-TERM MATCHING TRENDS:\r\n\r\n4.6: THE PREMIUM SERVICE - LIVE TRADES ARE:\r\n\r\n4.7: THE PREMIUM SERVICE – LIMIT ORDER TRADES ARE:\r\n\r\n4.8: POTENTIAL TRADES - WHAT PAIRS / CHARTS AM I LOOKING AT?\r\n\r\n<strong> </strong>\r\n<ol start=\"5\">\r\n	<li><strong> MY FINAL THOUGHTS:</strong></li>\r\n</ol>\r\nOVERVIEW OF TRADING TIPS &amp; THOUGHTS FOR THE WEEK AHEAD:\r\n\r\nFinally, we have a divergent central bank policy moving into position. I think that even the Queen ditherer Janet Yellen will find it very difficult not to raise rates in December at the next FOMC meeting.\r\n\r\nThis should provide us with not just directional trading but also momentum trading, which has not been around for some considerable time.\r\n\r\nThis however, does not mean green for go get out there and go long the USD all over the place? We have to be selective and allow for consolidation moves to finish their course. This might only take a couple of days, but it could take a couple of weeks and as you know currencies do not move in straight lines they move up and down but can still be overall directional.\r\n\r\nTherefore the best policy is to continue to be patient. Being 100% exact on your entry is pleasing but as we enter the next period in currency markets 100% accuracy in not a pre-requisite. There will be so many pips available that to miss 20-30 may be frustrating and possibly annoying, but it is not the b-all and end all, so to speak.\r\n\r\nEnsure that your TRADE PLANS are adhered to and that you do not over-extend your account through over-leveraging to try to take advantage of the upcoming moves. As stated earlier the FX market does not move in a straight line no matter how directional the market may appear and over-leveraging will only end in tears.\r\n\r\nTake care,\r\n\r\nScott Pickering\r\nThe Pip Accumulator\r\n<a href=\"https://weeklyfxdrivethru.com/disclaimer/\">https://weeklyfxdrivethru.com/disclaimer/\r\n</a>BLOG #176','IS IT JUST ME OR…DOES MARK CARNEY NEVER APPEAR TO GET IT RIGHT?','','inherit','closed','closed','','6777-revision-v1','','','2015-11-07 17:56:35','2015-11-07 22:56:35','',6777,'https://weeklyfxdrivethru.com/6777-revision-v1/',0,'revision','',0),(6779,1,'2015-11-07 17:58:38','2015-11-07 22:58:38','<p style=\"text-align: center;\"><strong>THE PREMIUM SERVICE</strong>\r\n<strong>from the</strong>\r\n<strong>WEEKLY FX DRIVE THRU</strong>\r\n<strong>“The Home of Single Lot Trading”</strong></p>\r\n<strong> </strong>\r\n<ol>\r\n	<li><strong> THE VIEW FROM MY TRADE DESK:</strong></li>\r\n</ol>\r\nLOOKING BACKWARDS, FORWARDS &amp; SIDEWAYS (FOR GOOD MEASURE) AT THE FX MARKET:\r\n\r\n1.1: LOOKING BACKWARDS:\r\n\r\nWell that was a week as far as I am concerned, when the introduction of monetary policy divergence via the world’s major central banks was 95% confirmed. As I wrote last week, the NFP numbers released yesterday had to be an absolute disaster for the FED not to raise interest rates at next months FOMC meeting in December.\r\n\r\nThe numbers were a blowout: -\r\n\r\n<strong>271,000 jobs versus consensus of 181,000</strong>\r\n<strong>Previous month revised up by 12,000.</strong>\r\n\r\n<strong>Unemployment Rate at 5% unchanged</strong>\r\n\r\n<strong>Average Hourly Earnings 0.4% consensus 0.2%</strong>\r\n\r\nAs a result, my divergent trading plan is now in full swing. I have added lots of potential trade set-ups for my subscribers into the Premium Service section of the blog and there are more set-ups to post early next week.\r\n\r\nThe USD is in HUGE breakout territory…see the chart below. In my opinion it is now time to buy the USD on dips.\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/DXY-07112015.png\"><img class=\"aligncenter size-large wp-image-6753\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/DXY-07112015-1024x535.png\" alt=\"DXY 07112015\" width=\"1024\" height=\"535\" /></a>\r\n\r\nAs you can see in the weekly DXY (USD index) chart above the move higher in the USD was pretty spectacular and later in this blog if you compare chart movements on a weekly basis with the USD major pairs you will see there were moves of 250-300 pips and greater almost across the board. By any stretch of the imagination there is USD power back in the system, there are buyers of the greenback all over the place.\r\n\r\nBe aware though, we should see a period of consolidation as these powerful moves are absorbed and overbought / oversold conditions are worked off. I strongly suggest that you do not do an impression of my male Labrador “Ozzy” who, always jumps in feet first creating an explosion of chaos and disorder. Try to plan your moves, you should have the time. The initial set ups I will be suggesting have very ambitious entry levels. They may require a little bit of tinkering, and whilst I do not mind giving away 20-30 pips on an entry given the circumstances, a 70-90-pip giveaway is in my opinion not that clever. I will be taking my female Labrador\'s approach, “Aoife” who is far more cautious and in comparison to her brother “Ozzy” and does not dive in head first like a bull in a china shop.\r\n\r\nJust look at the charts, so many of the USD majors hit extreme Fibonacci levels and should pullback to re-test breakouts and work off these extreme conditions. But this does not mean that it will happen.\r\n\r\nAhead of the Fed I traded really light. I decided not to go full out with the AUD and NZD news. I just let the existing trades do their stuff and I banked $$$ when I could and closed out many trades just after the BOE “Super Thursday” and ahead of the NFP release. I kept my longer-term trades open into NFP, but decided to take profits on the EUR/USD, USD/CHF and GBP/NZD trades after the news event. Subsequently, I have re-entered these pairs on pullbacks or set up limit orders.\r\n\r\nI have written on many occasions that patience is a virtue with trading. It was very, very hard to keep my hands off the keyboard at times last week, in hindsight, which of course is just a wonderful thing, I probably could have traded a bit more but staying low is a really good discipline at times.\r\n\r\nTo recap, everything now as far as I am concerned is based around solid chart analysis moving forward. The great news is, even if you are bit hit and miss, we are directionally set up, and as such, with entry levels, whilst we always strive to have them a perfect as possible (which is a great discipline), you will not need to be spot on, even those of you who are not 100% confident can be 20-30 pips out on entries in my opinion, as directional moves are about to set in and there should be hundreds, if not thousands of pips available for us to trade with.\r\n\r\n&nbsp;\r\n\r\n1.2: LOOKING FORWARD:\r\n\r\nMAJOR FOREX NEWS THIS WEEK THAT INTERESTS ME:\r\n\r\n(There are many more news items related to the Forex Market other than the ones listed below. These are the ones that interest me. You can go to <a href=\"http://www.forexfactory.com\">www.forexfactory.com</a> and <a href=\"http://www.tradingeconomics.com\">www.tradingeconomics.com</a> for a more comprehensive lists of all news events that are Forex related).\r\nSUNDAY: N/A.\r\n\r\nMONDAY: AUD – NAB Business Confidence.\r\nMONDAY: CNY - CPi.\r\n\r\nTUESDAY: GBP – Inflation Report Hearings.\r\nTUESDAY: NZD – RBNZ financial Stability Report.\r\n\r\nWEDNESDAY: GBP – Jobs Data &amp; words of wisdom from Mark Carney (BOE).\r\nWEDNESDAY: AUD – Jobs Data.\r\n\r\nTHURSDAY: N/A.\r\n\r\nFRIDAY: EUR – German GDP.\r\nFRIDAY: USD – Core Retail Sales and PPi plus UOM Consumer Sentiment.\r\n\r\n&nbsp;\r\n\r\nMY THOUGHTS ON THE NEWS ITEMS THIS COMING WEEK:\r\n\r\nIn comparison to the last two weeks, this coming week is a great deal lighter on economic news data releases.\r\n\r\nThe one item that is not listed above will be all the “FED speak” and the appearance of “EUR numpties” that will emerge from under rocks being dragged onto our TV screens to give as much conflicting news as possible to ensure that they get their 30 second sound-bytes.\r\n\r\nWe have to be aware of this fact, but remember only Janet Yellen’s comments count in the U.S. and Mario Draghi’s in the Eurozone.\r\n\r\nThe likes of CNBC and BLOOMBERG will be looking at the potential targets of USD strength to make as much noise as possible about the pitfalls of a rate hike by the FED. It is not about reporting news nowadays; it’s about trying to make news. The FED sets out monetary policy; it is NOT set by analysis on CNBC or BLOOMBERG. Ben Bernanke announced the change in FED policy last year when tapering completed, we are now at step 2, moving forward with interest rate normalization.\r\n\r\nTherefore, I see commentary and equities driving the Forex Markets this week more than the economic data releases and we should bear in mind that because we are light on USD data in particular, there really is nothing much that could stop the USD from strengthening further.\r\n\r\nHaving just written that please note my thoughts on jumping in too fast as we should in my opinion, see a period of consolidation. Lots of the USD major pairs hit extreme levels that need to be worked off. However, there are no guarantees that the USD will stop when the Asian markets open, it may need Asian traders to flush out their trades after NFP first. The USD should confirm the big move, at this stage these will be the best prices to enter with your trades, the issue is always nobody tells you.\r\n\r\nTherefore, we have to be both patient and ready at the same time!\r\n\r\n&nbsp;\r\n\r\nMY KEY SUPPORT &amp; RESISTANCE LEVELS THIS WEEK FOR USD MAJORS<strong>:</strong>\r\n\r\nIn this section I have as usual kept my charts as minimalist as possible. All readers regardless of level of experience should be able to follow my thoughts from my comments to the levels on the charts with ease.\r\n\r\nAll of my thoughts, ideas and relevant comments are contained on the charts.\r\n\r\n&nbsp;\r\n\r\nEUR/USD - Weekly Closing Price: 1.0745\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/EURUSD-W-07112015.png\"><img class=\"aligncenter size-large wp-image-6755\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/EURUSD-W-07112015-1024x514.png\" alt=\"EURUSD W 07112015\" width=\"1024\" height=\"514\" /></a>\r\n\r\n&nbsp;\r\n\r\nGBP/USD - Weekly Closing Price: 1.5050\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/GBPUSD-W-07112015.png\"><img class=\"aligncenter size-large wp-image-6756\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/GBPUSD-W-07112015-1024x514.png\" alt=\"GBPUSD W 07112015\" width=\"1024\" height=\"514\" /></a>\r\n\r\n&nbsp;\r\n\r\nAUD/USD - Weekly Closing Price: 0.7048\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/AUDUSD-D-07112015.png\"><img class=\"aligncenter size-large wp-image-6754\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/AUDUSD-D-07112015-1024x514.png\" alt=\"AUDUSD D 07112015\" width=\"1024\" height=\"514\" /></a>\r\n\r\n&nbsp;\r\n\r\nNZD/USD - Weekly Closing Price: 0.6523\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/NZDUSD-D-07112015.png\"><img class=\"aligncenter size-large wp-image-6757\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/NZDUSD-D-07112015-1024x514.png\" alt=\"NZDUSD D 07112015\" width=\"1024\" height=\"514\" /></a>\r\n\r\n&nbsp;\r\n\r\nUSD/CAD - Weekly Closing Price: 1.3296\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/USDCAD-D-07112015.png\"><img class=\"aligncenter size-large wp-image-6758\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/USDCAD-D-07112015-1024x514.png\" alt=\"USDCAD D 07112015\" width=\"1024\" height=\"514\" /></a>\r\n\r\n&nbsp;\r\n\r\nUSD/CHF - Weekly Closing Price: 1.0059\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/USDCHF-W-07112015.png\"><img class=\"aligncenter size-large wp-image-6759\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/USDCHF-W-07112015-1024x514.png\" alt=\"USDCHF W 07112015\" width=\"1024\" height=\"514\" /></a>\r\n\r\n&nbsp;\r\n\r\nUSD/JPY - Weekly Closing Price: 123.19\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/USDJPY-W-07112015.png\"><img class=\"aligncenter size-large wp-image-6760\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/USDJPY-W-07112015-1024x514.png\" alt=\"USDJPY W 07112015\" width=\"1024\" height=\"514\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n1.3: LOOKING SIDEWAYS (FOR GOOD MEASURE):\r\n\r\nOver the past week, I received a couple of communications from subscribers based around trade flexibility, basically stop loss placement.\r\n\r\nI sometimes feel that I have been saying this most of 2015, however more notably just before the summer and again in September when the FOMC missed opportunities to hike interest rates, I have been advising traders to trade smaller position sizes with wider stops.\r\n\r\nThe main reason for this was to give us as traders a greater opportunity to stay alive with trades rather than being stopped out in choppy market conditions. The uncertainty in the Forex markets driven in part, or maybe in whole, by Janet Yellen dithering made it at times a lottery to trade. Yes, there were opportunities, there always are in hindsight, but at the time FUNDAMENTALS and TECHNICALS counted for nothing as currency pairs were dragged beyond key levels of support and resistance causing numerous false breakouts and false breakdowns.\r\n\r\nMany novice traders were lured in, only to be the wrong side of the market and out of cash in loss situations very quickly as the false moves came back into trading ranges.\r\n\r\nWhen setting trades I use Fibonacci levels in conjunction with horizontal support and resistance levels and from these and other charting patterns I select high probability trades. I set my stop losses and limits using the same ideas.\r\n\r\nThis year has been a different year in the way that I have approached trading compared to 2014. In fact it all changed for me after Thomas Jordan (SNB) removed the EUR/CHF peg. The numerous short squeezes’ that followed in the ensuing couple of months from an upset market trying to adjust made me change. I took losses and I had to adjust.\r\n\r\nWhen entering trades I use smaller positions and this allows me greater flexibility. I know at the outset what my RISKS are, based on a full-size position, but I enter on a % of my full-size. This means I can move stop loss positions without fear of breaking my RISK MANAGEMENT levels from within my TRADE PLAN and should the trade turn profitable I can add to the core trade and then adjust my stops either based on the overall trade or treat each trade as an individual trade for RISK MANAGEMENT purposes.\r\n\r\nThis is a far more adaptable and flexible way to trade. Whilst it involves a little more account management of your trades the benefits more than outweigh the time involved checking and validating the adjustments required.\r\n\r\nIt involves my key word for 2015… PATIENCE.\r\n\r\n<strong> </strong>\r\n<ol start=\"2\">\r\n	<li><strong> WHAT’S ON MY MIND:</strong></li>\r\n</ol>\r\n<p style=\"text-align: center;\"><strong>IS IT JUST ME OR…</strong>\r\n<strong>DOES MARK CARNEY NEVER APPEAR TO GET IT RIGHT?</strong></p>\r\nI know I repeatedly give Mark Carney a hard time, but lets face facts he is a fecking muppet.\r\n\r\nHe has never delivered on anything since moving from the BOC in 2013, apart from bloody confusion.\r\n\r\nIf his job specification states he has to mislead markets, he would be earning a performance bonus. The fact is that this is not in his job profile. For over a year he has been bullshi****g markets about the state of the UK economy, which must be a nightmare for UK businesses.\r\n\r\nHe is just not credible anymore.\r\n\r\nI recall in the early summer of 2014, my wife and I were driving to Saratoga Springs for a few days R&amp;R, which coincided with Carney’s speech at the London Lord Mayor’s Mansion House dinner. Carney spoke about the state of the UK economy and talked about UK interest rates rising sooner rather later. Over the days that followed he talked down the comments made in his speech and sure enough UK economic data that followed was mixed and cold water was poured on the possibility of an interest rate increase. Obviously in the interim GBP related currency pairs were on fire.\r\n\r\nThis year he has on at least two occasions talked up the fact that the UK interest rates will increase. The most notable occasion was in July at Lincoln Cathedral where he made a major monetary policy speech. The markets just reacted as they do on hearing this, only once again to be disappointed when the economic data that followed showed a completely different picture than that spouted by Carney.\r\n\r\nIn fact at a gathering of central bankers, called BIFFOS (Big Ignorant Feckers Full Of Shite), which I think it was in South America somewhere, Carney even went out in public to say that the UK economy was in great shape and that he would even move rates ahead of the FED. Holy mother of God, in the name of all that is defined as sanity, who, would move ahead of the FED; at the same time maybe, but ahead of the FED?\r\n\r\nMark Carney just cannot be believed; all comments made by him should carry a serious Forex trader warning.\r\n\r\nBelow is a section from my pre BOE trade ideas/update that I sent to my premium service subscribers on 4<sup>th</sup> November 2015.\r\n<p style=\"text-align: center;\"><span style=\"color: #0000ff;\"><strong><em>THE BANK OF ENGLAND - INFLATION REPORT:</em></strong></span></p>\r\n<p style=\"text-align: center;\"><span style=\"color: #0000ff;\"><em>Tomorrow is a big BOE day. Carney will spin a few yarns no doubt about that but it is the INFLATION REPORT that always turns into the market mover. </em></span></p>\r\n<p style=\"text-align: center;\"><span style=\"color: #0000ff;\"><em>I remember a few years ago when the GBP/USD was just above 2.0000 and the then BOE governor Mervyn King painted the UK economy as it was, he pulled no punches and clearly stated where he thought it was going. The GBP/USD waterfalled lower in dramatic style. </em></span></p>\r\n<p style=\"text-align: center;\"><span style=\"color: #0000ff;\"><em>This is an important data release and should not be underestimated with its impact.</em></span></p>\r\n<p style=\"text-align: center;\"><span style=\"color: #0000ff;\"><em>Given \"The Carney\" effect I see no reason to expect anything other than a big GBP move.</em></span></p>\r\nWhen I wrote about the Carney effect, I really did not think he would have provided such a dovish statement, given that the markets were expecting a hawkish view.\r\n\r\nThe mere fact that Deputy governor Minouche Shafik defended questions stating that the BOE had been wrong-footing investors and households with its various signals on when interest rates may start to rise says it all as far as I am concerned.\r\n\r\nAll the forward guidance given by Carney has been a joke. Since 2013 after Carneys arrival from the BOC, he initially said that when unemployment reached 7% he would look at raising rates. The jobless number fell quite quickly; he pooped his pants and backtracked. Next it was the Oil price that prevented a rate rise.\r\n\r\nMaybe I have him wrong… maybe he is just a ditherer like Janet Yellen?\r\n\r\nSo, last Thursday what were the key points that he hit the markets with?\r\n<ol>\r\n	<li>The BOE MPC voted 8-1 to keep interest rates unchanged. (Ian McCafferty, the one man standing alone looking for a rate increase)</li>\r\n	<li>He stated that the BOE outlook for global growth has weakened since August. He blamed emerging market economies for that weakness, saying that growth in the emerging market regions had slowed markedly.</li>\r\n	<li>The bank expects inflation to rise above its 2% goal in two years. He went on to say that risks lie to the downside during the two-year period. What that means is that just like his predecessor Mervyn King he has NO control whatsoever over inflation growth and just cannot get the sustained growth required to achieve the 2% objective. Ever since I started trading Forex Merve “the swerve” King, never hit this objective and came up with so many “sick note” equivalents of excuses as to why. History is just repeating itself.</li>\r\n	<li>Rising interest rates are now delayed by 10 or 12 months to the end of 2016.</li>\r\n	<li>Yet, Carney once again stated that the UK economy is robust and resilient.</li>\r\n	<li>The Consumer price inflation index, he predicts will be below 1% possibly into the second half of 2016.</li>\r\n</ol>\r\nBasically, it was a very dovish bulletin.\r\n\r\nFrom a Forex trading perspective at least we know where we stand once and for all. I think that Mark Carney after such a dovish collection of statements affecting the UK economic trading conditions will have to crawl back under a rock for at least six months.\r\n\r\nMaybe moving forward, he will think twice before releasing misleading statements, who knows? However I would imagine that any future comments he makes would be well challenged given this remarkable u-turn. As stated earlier running a business in the UK must have been a nightmare in the past couple of years, at least now it looks like an extended dovish period is in play.\r\n\r\nIn my opinion we should have a clear six to nine months of policy divergence in the UK (BOE v FED) happy days, as far as I am concerned!!\r\n\r\n&nbsp;\r\n\r\n<strong> </strong>\r\n<ol start=\"3\">\r\n	<li><strong> THE PREMIUM SERVICE:</strong></li>\r\n</ol>\r\n3.1: SUMMARY OF YEAR TO DATE PERFORMANCE - 2015:\r\n<p style=\"text-align: center;\">PREMIUM SERVICE – COST INCOME ANALYSIS (USD):</p>\r\n<p style=\"text-align: center;\">PROFITS FROM TRADE SET-UPS – to November 7th 2015.\r\n(The profit levels below are based on single lot trades only)</p>\r\n<p style=\"text-align: center;\">MICRO LOT TRADER - 589 trades cost to trade = $58.90\r\n<strong>PROFIT</strong> from 589 trades = <strong>$1,071.70</strong></p>\r\n<p style=\"text-align: center;\">MINI LOT TRADER - 589 trades cost to trade = $589.00\r\n<strong>PROFIT</strong> from 589 trades = <strong>$10,717.00</strong></p>\r\n<p style=\"text-align: center;\">STANDARD LOT TRADER - 589 trades cost to trade = $5,890.00\r\n<strong>PROFIT</strong> from 589 trades = <strong>$107,173.00</strong></p>\r\n3.2: PREMIUM SERVICE – TRADE SUMMARIES THIS MONTH:\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/RADAR1-07112015.png\"><img class=\"aligncenter size-full wp-image-6745\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/RADAR1-07112015.png\" alt=\"RADAR1 07112015\" width=\"506\" height=\"543\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/RADAR2-07112015.png\"><img class=\"aligncenter size-full wp-image-6746\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/RADAR2-07112015.png\" alt=\"RADAR2 07112015\" width=\"485\" height=\"543\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/FLASH1-07112015.png\"><img class=\"aligncenter size-full wp-image-6747\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/FLASH1-07112015.png\" alt=\"FLASH1 07112015\" width=\"480\" height=\"544\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/FLASH2-07112015.png\"><img class=\"aligncenter size-full wp-image-6748\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/FLASH2-07112015.png\" alt=\"FLASH2 07112015\" width=\"497\" height=\"540\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/FUN-07112015.png\"><img class=\"aligncenter size-full wp-image-6749\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/FUN-07112015.png\" alt=\"FUN 07112015\" width=\"519\" height=\"533\" /></a>\r\n\r\n&nbsp;\r\n\r\n3.3: PREMIUM SERVICE – 2015 PERFORMANCE TO DATE:\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/PS-PROFITS1-07112015.png\"><img class=\"aligncenter size-full wp-image-6743\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/PS-PROFITS1-07112015.png\" alt=\"PS PROFITS1 07112015\" width=\"527\" height=\"417\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/PS-PROFITS2-07112015.png\"><img class=\"aligncenter size-full wp-image-6744\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/PS-PROFITS2-07112015.png\" alt=\"PS PROFITS2 07112015\" width=\"536\" height=\"416\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n3.4: PREMIUM SERVICE – 2014 TOTAL PERFORMANCE:\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/12/PREM-SERV-PERF2-31122014.png\"><img class=\"aligncenter size-full wp-image-4962\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/12/PREM-SERV-PERF2-31122014.png\" alt=\"PREM SERV PERF2 31122014\" width=\"470\" height=\"426\" /></a>\r\n\r\n&nbsp;\r\n\r\nNOTES:\r\n<ul>\r\n	<li>If the above return from Forex Trading interests you go to my website landing page at <a href=\"http://www.weeklyfxdrivethru.com\">weeklyfxdrivethru.com</a> and check out the subscription options and special promotions under the tabs “PREMIUM SERVICE” and “PROMOTIONS”</li>\r\n	<li>If you want more data about the performance and my website does not answer your questions, contact me directly and I will supply the data you require.</li>\r\n	<li>THE PREMIUM SERVICE has subscribers with broker accounts of sizes ranging from $2,500 to over $100,000. A profitable trade is a profitable trade. It is all about trading according to the size of your broker account (EFFECTIVE POSITION SIZING) and applying RISK MANAGEMENT principles at all times.</li>\r\n</ul>\r\n<strong> </strong><strong> </strong>\r\n<ol start=\"4\">\r\n	<li><strong> PREMIUM SERVICE (GOLD) SUBSCRIBER CONTENT:</strong></li>\r\n</ol>\r\n(The following section is additional data, thoughts, and ideas exclusively for PREMIUM SERVICE (GOLD) subscribers)\r\n\r\n4.1: THE PREMIUM SERVICE – TRADING REVIEW:\r\n\r\n4.2: THE DIVERGENT CB MONETARY POLICY – FUNDAMENTAL TRADES:\r\n\r\n4.3: CHANGES TO MY PREFERRED FX BROKER LINEUP:\r\n\r\n4.4: REVISIONS TO TRADE STYLE DEFINITIONS:\r\n\r\n4.5: MAJOR TRADING PAIRS WITH LONGER-TERM MATCHING TRENDS:\r\n\r\n4.6: THE PREMIUM SERVICE - LIVE TRADES ARE:\r\n\r\n4.7: THE PREMIUM SERVICE – LIMIT ORDER TRADES ARE:\r\n\r\n4.8: POTENTIAL TRADES - WHAT PAIRS / CHARTS AM I LOOKING AT?\r\n\r\n<strong> </strong>\r\n<ol start=\"5\">\r\n	<li><strong> MY FINAL THOUGHTS:</strong></li>\r\n</ol>\r\nOVERVIEW OF TRADING TIPS &amp; THOUGHTS FOR THE WEEK AHEAD:\r\n\r\nFinally, we have a divergent central bank policy moving into position. I think that even the Queen ditherer Janet Yellen will find it very difficult not to raise rates in December at the next FOMC meeting.\r\n\r\nThis should provide us with not just directional trading but also momentum trading, which has not been around for some considerable time.\r\n\r\nThis however, does not mean green for go get out there and go long the USD all over the place? We have to be selective and allow for consolidation moves to finish their course. This might only take a couple of days, but it could take a couple of weeks and as you know currencies do not move in straight lines they move up and down but can still be overall directional.\r\n\r\nTherefore the best policy is to continue to be patient. Being 100% exact on your entry is pleasing but as we enter the next period in currency markets 100% accuracy in not a pre-requisite. There will be so many pips available that to miss 20-30 may be frustrating and possibly annoying, but it is not the b-all and end all, so to speak.\r\n\r\nEnsure that your TRADE PLANS are adhered to and that you do not over-extend your account through over-leveraging to try to take advantage of the upcoming moves. As stated earlier the FX market does not move in a straight line no matter how directional the market may appear and over-leveraging will only end in tears.\r\n\r\nTake care,\r\n\r\nScott Pickering\r\nThe Pip Accumulator\r\n<a href=\"https://weeklyfxdrivethru.com/disclaimer/\">https://weeklyfxdrivethru.com/disclaimer/\r\n</a>BLOG #176','IS IT JUST ME OR…DOES MARK CARNEY NEVER APPEAR TO GET IT RIGHT?','','inherit','closed','closed','','6777-revision-v1','','','2015-11-07 17:58:38','2015-11-07 22:58:38','',6777,'https://weeklyfxdrivethru.com/6777-revision-v1/',0,'revision','',0),(6809,1,'2015-11-14 12:18:46','2015-11-14 17:18:46','<p style=\"text-align: center;\"><strong>THE PREMIUM SERVICE</strong>\r\n<strong>from the</strong>\r\n<strong>WEEKLY FX DRIVE THRU</strong>\r\n<strong>“The Home of Single Lot Trading”</strong></p>\r\n<strong> </strong>\r\n<ol>\r\n	<li><strong> THE FX MARKET PLACE:</strong></li>\r\n</ol>\r\nLOOKING BACKWARDS, FORWARDS &amp; SIDEWAYS (FOR GOOD MEASURE) AT THE FX MARKET:\r\n\r\n1.1: LOOKING BACKWARDS:\r\n\r\nFor me this was a week light on volume of Economic data, full of lots of Central Banker speeches but, in the end so much promise, but, bugger all delivery apart from Draghi on Thursday, in my opinion it flattered to deceive.\r\n\r\nWhat’s that well-known phrase I use from time to time when looking back over a weeks work… yes that’s right sh*t happens.\r\n\r\nAs one of my London (UK) subscribers says “Would you Adam and Eve it?” (Native cockney [someone from London] rhyming slang = believe) ie: Would you believe it?\r\n\r\nThe USD would appear to be in such demand that even though last Friday’s Retail Sales and Producer Price index data releases were poor / bordering awful, the USD was not taken to the woodshed and spanked, instead it rallied off the poor data.\r\n\r\nSo there you have it, it’s not just a buy the dips it just a buy, buy and buy. In my opinion this state of play could persist right the way through to the FED meeting in December. Equity bulls I would say at the moment are pooping in their pants. Is it time to buy shares in Costco the biggest seller of toilet tissue in the world?\r\n\r\nIf you are an equity bull, I think you can put you heads between legs lean forward kiss your own ass (not everyone can do this… FYi, I am one of these), whistle Dixie at the same time and forget about the Santa Claus rally this year.\r\n\r\nDates for your calendar are therefore: -\r\n\r\n3<sup>rd</sup> December 2015: ECB meeting in Frankfurt with press conference.\r\n16<sup>th</sup> December 2015: FOMC meeting with press conference.\r\n\r\nAt these meetings I am expecting: -\r\n\r\nECB:\r\n<ul>\r\n	<li>Confirmation of more Quantitative Easing (QE) to be added to the existing program.</li>\r\n	<li>A formal announcement of an extension of the existing program beyond September 2016.</li>\r\n	<li>Details of an extension to the types of bonds to be purchased.</li>\r\n	<li>A revision to the overnight deposit rate for central banks within the Eurozone.</li>\r\n	<li>Revisions of Eurozone growth targets to lower levels for 2016-2017.</li>\r\n</ul>\r\nFOMC:\r\n<ul>\r\n	<li>Confirmation of an initial rate increase, probably 0.25%.</li>\r\n	<li>Details from the economic projections “the dots” will be amended.</li>\r\n	<li>Information regarding when future rate increases could be introduced.</li>\r\n	<li>A revision of 2016-2017 growth objectives.</li>\r\n</ul>\r\n&nbsp;\r\n\r\nI am not an accountant. However, I strongly expect many revisions to the “books” going forward and the “egg-heads” at the FED and ECB will be number crunching from now right through to the dates above. Yup… them books will be cooked in Frankfurt and Washington as I type this blog.\r\n\r\n&nbsp;\r\n\r\n1.2: LOOKING FORWARD:\r\n\r\nMAJOR FOREX NEWS THIS WEEK THAT INTERESTS ME:\r\n(There are many more news items related to the Forex Market other than the ones listed below. These are the ones that interest me. You can go to <a href=\"http://www.forexfactory.com\">www.forexfactory.com</a> and <a href=\"http://www.tradingeconomics.com\">www.tradingeconomics.com</a> for a more comprehensive lists of all news events that are Forex related).\r\nSUNDAY: NZD – Retail Sales.\r\n\r\nMONDAY: EUR – Words of wisdom from Mario Draghi (ECB).\r\nMONDAY: CAD – Manufacturing Sales.\r\nMONDAY: AUD – Monetary Policy Meeting Minutes.\r\nMONDAY: NZD – Inflation Expectations.\r\n\r\nTUESDAY: GBP – CPi.\r\nTUESDAY: EUR – German ZEW Economic Sentiment.\r\nTUESDAY: USD – Core CPI and CPi Data.\r\nTUESDAY: NZD – Dairy Prices (GDT Price Index).\r\n\r\nWEDNESDAY: USD – FOMC Meeting Minutes.\r\nWEDNESDAY: JPY – BOJ Press Conference and Monetary Policy Statement.\r\n\r\nTHURSDAY: GBP – Retail Sales.\r\n\r\nFRIDAY: EUR – Words of wisdom from Mario Draghi (ECB).\r\nFRIDAY: CAD – Core Retail Sales and Core CPI.\r\n\r\n&nbsp;\r\n\r\nMY THOUGHTS ON THE NEWS ITEMS THIS COMING WEEK:\r\nIn comparison to last week’s economic data, we appear to have much more of a mixed bag.\r\n\r\nAll over the globe, growth is an issue. Deflation although not mentioned is an obvious issue.\r\n\r\nRegular readers will know I love to follow the consumer data. Without consumers buying goods and services what’s the point of manufacturing?\r\n\r\nFrom New Zealand we have Retail sales, Inflation data and Dairy prices. I am so bearish this NZD, despite all the issues surrounding the mis-leading, non- consistent information emanating from Graeme Wheeler (RBNZ Governor). He makes it a challenge to trade the Kiwi across the board, as in my opinion, it is about to be caught so badly with a China hard landing that is on the horizon<strong>.</strong>\r\n\r\nI always look forward to NZD data.\r\n\r\nIn the Eurozone apart from German ZEW, we have some comments due from Mario Draghi. You just never know what he might say. Always bear in mind his “Whatever it takes” was taken literally by the markets even though in his own words it was taken a little out of context. The EUR/USD is bordering on a breakdown and it can happen ahead of the December meetings.\r\n\r\nI would suspect that the ECB wants an orderly drop with the EUR/USD, frankly I couldn’t care less, give me 500 pips and a bounce to sell into. That would be just fine with me. However, I am certain they want a nice casual drop over an extended period. Whatever happens, all Eurozone data and comments will be scrutinized very closely.\r\n\r\nCanadian data fascinates me at the moment, not just because I currently live in Canada, but also because I do not believe most of the data. For the whole of 2014 false employment numbers were supplied to the markets by the government and when I look at some of the current data releases I think they are wish lists rather than the true picture. I am finally long the USD/CAD again and I am looking for a huge breakout higher. I am not long the USD/CAD however, with my longer-term FUNDAMENTAL TRADE set–ups yet and that is a cause of frustration. This Friday we have core retail sales and core CPi.\r\n\r\nI am expecting a rate cut from the BOC before the year-end, the next BOC meeting is on December 2<sup>nd</sup> 2015. Let’s see if it happens.\r\n\r\nWith regards to the USD, expect plenty of media attention and “off the cuff” quotes will be the order of each day this week, in fact, in my opinion the U.S. media frenzy over the FED rate hike will continue through to the December policy meeting and right up to the press conference.\r\n\r\n&nbsp;\r\n\r\nMY KEY SUPPORT &amp; RESISTANCE LEVELS THIS WEEK FOR USD MAJORS<strong>:\r\n</strong>In this section I have as usual kept my charts as minimalist as possible. All readers regardless of level of experience should be able to follow my thoughts from my comments to the levels on the charts with ease.\r\n\r\nAll of my thoughts, ideas and relevant comments are contained on the charts.\r\n\r\nEUR/USD - Weekly Closing Price: 1.0775\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/EURUSD-W-14112015.png\"><img class=\"aligncenter size-large wp-image-6793\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/EURUSD-W-14112015-1024x514.png\" alt=\"EURUSD W 14112015\" width=\"1024\" height=\"514\" /></a>\r\n\r\n&nbsp;\r\n\r\nGBP/USD - Weekly Closing Price: 1.5237\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/GBPUSD-D-14112015.png\"><img class=\"aligncenter size-large wp-image-6794\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/GBPUSD-D-14112015-1024x514.png\" alt=\"GBPUSD D 14112015\" width=\"1024\" height=\"514\" /></a>\r\n\r\n&nbsp;\r\n\r\nAUD/USD - Weekly Closing Price: 0.7130\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/AUDUSD-D-14112015.png\"><img class=\"aligncenter size-large wp-image-6792\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/AUDUSD-D-14112015-1024x514.png\" alt=\"AUDUSD D 14112015\" width=\"1024\" height=\"514\" /></a>\r\n\r\n&nbsp;\r\n\r\nNZD/USD - Weekly Closing Price: 0.6544\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/NZDUSD-D-14112015.png\"><img class=\"aligncenter size-large wp-image-6798\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/NZDUSD-D-14112015-1024x514.png\" alt=\"NZDUSD D 14112015\" width=\"1024\" height=\"514\" /></a>\r\n\r\n&nbsp;\r\n\r\nUSD/CAD - Weekly Closing Price: 1.3328\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/USDCAD-D-14112015.png\"><img class=\"aligncenter size-large wp-image-6797\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/USDCAD-D-14112015-1024x514.png\" alt=\"USDCAD D 14112015\" width=\"1024\" height=\"514\" /></a>\r\n\r\n&nbsp;\r\n\r\nUSD/CHF - Weekly Closing Price: 1.0063\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/USDCHF-D-14112015.png\"><img class=\"aligncenter size-large wp-image-6796\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/USDCHF-D-14112015-1024x514.png\" alt=\"USDCHF D 14112015\" width=\"1024\" height=\"514\" /></a>\r\n\r\n&nbsp;\r\n\r\nUSD/JPY - Weekly Closing Price: 122.65\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/USDJPY-D-14112015.png\"><img class=\"aligncenter size-large wp-image-6795\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/USDJPY-D-14112015-1024x514.png\" alt=\"USDJPY D 14112015\" width=\"1024\" height=\"514\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n1.3: LOOKING SIDEWAYS (FOR GOOD MEASURE):\r\n\r\nOver the past few weeks in this section I have been referring to specific trading issues.\r\n\r\nThis week I want to change topics and mention a new addition to my trade set-ups for subscribers.\r\n\r\nFrom November 1<sup>st</sup> I changed the definition and parameters for my fundamental trades set-ups. In the past, these trades intended to be of a longer-term nature had been more or less commodity cross rate trades, and although successful in 2015, because of market conditions they did not run for as long a time period as I had hoped for many reasons.\r\n\r\nFundamental trades are now based off central bank monetary policy divergence. In addition these are perfect set-ups for part-time traders who are not able to access screens very often, they are also open to all traders and many existing subscribers have embraced to concept of these trades and opened up separate broker accounts to keep these trades separate from core trades.\r\n\r\nAs a part-time Forex trader the markets this year made it virtually impossible to scratch out a reasonable additional income stream, in fact, many part-timers just disappeared.\r\n\r\nTheses trades are intended to be small position sizes with wider stops and wider limits based on divergence. There will be profit taking along the way and stops will be brought in to protect profits. My goal is to have multiple live trades in the same currency pair managing profits and minimizing losses as the core trade progresses.\r\n\r\nI am now going to introduce a daily FUNDAMENTAL TRADE email review, which will include trade amendments (if any) plus fresh set-ups so that part-time traders can find it easier to update trades from one location each day. It will also have its own section inside the PREMIUM SERVICE subscriber version of this blog.\r\n\r\nBelow is the initial excel spreadsheet for this month so far. It is a great start from which to build on.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/FUN-PS-BLOG-PROMO-14112015.png\"><img class=\"aligncenter size-full wp-image-6816\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/FUN-PS-BLOG-PROMO-14112015.png\" alt=\"FUN PS BLOG PROMO 14112015\" width=\"504\" height=\"562\" /></a>\r\n\r\n&nbsp;\r\n\r\nObviously these trade set-ups are available now for PREMIUM SERVICE subscribers.\r\n\r\nIf you are interested and want to know more, email me at the address on the excel spreadsheet.\r\n\r\nWithin the next few days, my website <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a> will have a specific TAB on the landing page referring to part-time fundamental trades and further details including profit projections and cash flow analysis for 2016 will be included.\r\n\r\nThis is a great opportunity for those who are part-time traders to add an additional income stream to their household budget or use it for a specific purchase. It also has the same appeal for full-time traders who may want to keep these trades separate from core trading activities.\r\n\r\n<strong> </strong>\r\n<ol start=\"2\">\r\n	<li><strong> WHAT’S ON MY MIND:</strong></li>\r\n</ol>\r\n<p style=\"text-align: center;\"><strong>THE CARDS HAVE </strong>BEEN<strong> DEALT - TIME TO PREPARE FOR 2016</strong></p>\r\nTo all intents and purposes it looks like the cards from the ECB and FED have been dealt.\r\n\r\nAt the moment though, it’s like a game of poker, I am not quite sure this particular type of poker is called, but you have two cards that no-one else can see and there are three cards face up on the table in front of you that the whole table can see.\r\n\r\nThis is how I view matters at the moment. Both Janet Yellen and Mario Draghi know what they have and how to play their hands but the final two cards will not be revealed until next month.\r\n\r\nFrom a trading perspective where does that leave us?\r\n\r\nI always like to gather as much opinion as possible to verify / confirm my own thoughts, whether they be market contrarian or not, or maybe after a small debate toss my own thoughts into the nearest waste paper bin.\r\n\r\nAs I referenced at the beginning of this blog poor U.S. data resulted in USD strength. I had a brief webinar meeting with my trading peer group at 6.00AM EST Friday morning about the upcoming news event.\r\n\r\nThis small group of four is built up as follows: -\r\n\r\nTwo of us have subscriber based options to our blogs, the next member is a fanatical Elliot-wave specialist (I am still confused) and the last member of our group is an ex bank employee chartist, pattern maker!\r\n\r\nOur focused discussion was based around the EUR/USD:\r\n\r\nTwo of the group wanted to close all trades ahead of the news expecting poor data. The chartist and I said were on the other side of the discussion, primarily based upon the fact that the EUR/USD could not hold above 1.0800 and was pushed back in the previous U.S. and Asian sessions. I already had two live EUR/USD trades set up with stop loss levels moved out from 1.0840 to 1.0900 to cope with a short squeeze. I had taken my FLASH and RADAR trades off the table the previous day and banked $$$. My remaining EUR/USD trades were DIVERGENT FUNDAMENTAL TRADES and on the basis that these were for the longer-term I was going to hold and then add at highs.\r\n\r\nI am not writing this because in the end 1.0800 held, it wasn\'t even tested after the news release, the markets had just decided they wanted to own the USD no matter what.\r\n\r\nI am writing this because I was reacting to the hand I was holding (figuratively speaking) with my open EUR/USD trades. Had I had open trades with EUR/USD as RADAR or FLASH trades my actions would have been different.\r\n\r\nI did at that time, and still do, own USD/CHF longs, NZD/USD shorts and USD/CAD longs. The reaction with commodities (Gold, Oil and Copper) ahead of the news, gave me comfort to hold the NZD and CAD trades open. With regards to the CHF, this currency is breaking out and a fall back was another buying opportunity to add. My primary concern was the EUR/USD only.\r\n\r\nSo basically, what I am saying is that we all play the cards we are dealt with when making choices or decisions in Forex trading.\r\n\r\nRight now we have about 60% of the picture that Yellen and Draghi have, maybe a little more. Looking ahead, I do not think that we will get a glimpse of the cards “in the box” that Yellen and Draghi hold until their individual big day arrives, although I do expect plenty of rumours as to what they are holding.\r\n\r\nFrom my perspective, I want to keep it simple… very simple.\r\n\r\nThe FED are the HAWKS and the ECB are the DOVES.\r\n\r\nThat’s it - end of story.\r\n\r\nIn my opinion the fun starts now after the poor U.S. data.\r\n\r\nTowards the close last Friday afternoon, the EUR/USD drifted up from lows of 1.0715 to 1.0775. I just see this as a selling opportunity early this week. Incidentally, the EUR/USD rallied 60 pips while the inverse relationship USD/CHF fell only 40 pips.\r\n\r\nI say that the fun starts now because the flood gates will once again be opened, the rocks will be lifted up, and from beneath the rocks the creatures that blessed our TV screens and twitter feeds earlier this year will once again be let loose.\r\n\r\nThese numpties who were saying back in January/ February this year that the EUR/USD was going to 0.8000, 0.9000, 0.9500 and parity etc. will be perched on stools behind desks on CNBC and BLOOMBERG spewing it out once again, in repeat format until we can take no more.\r\n\r\nThe fact is, they were wrong earlier this year with their timings, but now they could be right with their target prices albeit for different reasons.\r\n\r\nI have read umpteen bank reports with regards to the EUR/USD target price ranging from 0.8500 to 0.9500, and frankly this is very possible given the fact that we will be entering a period of at least two years if not more of divergent central bank policy. It is the FED versus the rest. Scary as it sounds, it is the FED on one side and the rest (ECB, BOE, BOJ, SNB, BOC, RBA and RBNZ) on the other side.\r\n\r\nRecently as traders it has all been about scalping and day trading. That style of trading has and always will be there and there are many great shorter time period trading specialists. But what about the longer-term perspective traders who like to plan taking a much longer-term view. Retail traders have had their accounts pressured in 2015 as it became more and more difficult to seek out these trades. Yes, there have been big moves but being able to grab them and plan the market did not allow for that this year in comparison to previous years. We have been in a state of limbo due to central bank policies not being clear or promises not being delivered on time. The delays created uncertainty and this uncertainty gave us choppy markets.\r\n\r\nLooking forward, those traders who adapted to day trading to make a living can now add back position trading.\r\n\r\nIt is now time to plan and strategize. I have already started but I will not be at full steam (100%) until early 2016. Once we have the FED’s plans on further rate increases the divergence will escalate and we have a full proposal from which to base from.\r\n\r\nFrom a traders perspective this is just brilliant. There should be both momentum and directional trading most of the time. There will be sideways moves and retracements from time to time but generally speaking trading with the power of a central bank behind you, you cannot ask for more.\r\n\r\nThere are obvious trades based around the USD majors. The USD/JPY being the exception, we need to see how it will react and this will then set the tone for the JPY cross pairs and of course the commodity cross rate pairs as well. Will we return to a simple risk on / risk off trading environment once again?\r\n\r\nWhatever happens, we have time to plan and select our favourite currency pairs to trade.\r\n\r\nWhilst I expect December to offer lots of trading opportunities in the interim period we can research and strategize ahead for next year. The great news is if you plan well in advance and establish core positions from which to add to or base, your strategy <strong>from</strong> 2016 has all the promise of being a great trading opportunity.\r\n\r\nOf course there will be risks but it is how we manage those risks, which creates differentiation away from the other traders.\r\n\r\nIn 2015 many traders left FX trading partly due to the EUR/CHF peg removal, millions of dollars were lost in a few hours. Then for a week or so thereafter, with uncertainty in the air there were numerous quite wicked squeezes. The traders, who left, called FX a “mugs game”, a “gamble”.\r\n\r\nThis is just NOT true.\r\n\r\nForex has always been and always will be about RISK MANAGEMENT and how you manage RISK. As retail traders we cannot move markets our “niche” is to capture bits of the moves created by banks and the large institutional investors. If we over leverage, or, poorly position ourselves with trades that is our problem through lack of knowledge, skill, ability or understanding.\r\n\r\nIn my opinion, there will never be a better time, a better opportunity to manage risk effectively, than next year 2016. We know the players and what cards they have to play with, we will have it all on the table before Christmas this year. You do not have to be a hero with big trades and risk your account.\r\n\r\nAs I have previously stated, this is for the longer-term. We have the opportunity to take profits bit by bit and grow our broker accounts organically with central bank policy behind our core moves.\r\n\r\nStart planning now.\r\n\r\n<strong> </strong>\r\n<ol start=\"3\">\r\n	<li><strong> THE PREMIUM SERVICE:</strong></li>\r\n</ol>\r\n3.1: SUMMARY OF YEAR TO DATE PERFORMANCE - 2015:\r\n<p style=\"text-align: center;\">PREMIUM SERVICE – COST INCOME ANALYSIS (USD):</p>\r\n<p style=\"text-align: center;\">PROFITS FROM TRADE SET-UPS – to November 14th 2015.\r\n(The profit levels below are based on single lot trades only)</p>\r\n<p style=\"text-align: center;\">MICRO LOT TRADER - 610 trades cost to trade = $60.10\r\n<strong>PROFIT</strong> from 610 trades = <strong>$1,111.70</strong></p>\r\n<p style=\"text-align: center;\">MINI LOT TRADER - 610 trades cost to trade = $610.00\r\n<strong>PROFIT</strong> from 610 trades = <strong>$11,117.00</strong></p>\r\n<p style=\"text-align: center;\">STANDARD LOT TRADER - 610 trades cost to trade = $6,100.00\r\n<strong>PROFIT</strong> from 610 trades = <strong>$111,170.00</strong></p>\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n3.2: PREMIUM SERVICE – 2015 PERFORMANCE TO DATE:\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/PS-PROFITS1-14112015.png\"><img class=\"aligncenter size-full wp-image-6781\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/PS-PROFITS1-14112015.png\" alt=\"PS PROFITS1 14112015\" width=\"525\" height=\"419\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/PS-PROFITS2-14112015.png\"><img class=\"aligncenter size-full wp-image-6782\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/PS-PROFITS2-14112015.png\" alt=\"PS PROFITS2 14112015\" width=\"536\" height=\"415\" /></a>\r\n\r\n&nbsp;\r\n\r\n3.3: PREMIUM SERVICE – 2014 TOTAL PERFORMANCE:\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/PS-PROFITS-2014.png\"><img class=\"aligncenter size-full wp-image-6791\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/PS-PROFITS-2014.png\" alt=\"PS PROFITS 2014\" width=\"529\" height=\"487\" /></a>\r\n\r\n&nbsp;\r\n\r\nNOTES:\r\n<ul>\r\n	<li>If the above return from Forex Trading interests you go to my website landing page at <a href=\"http://www.weeklyfxdrivethru.com\">weeklyfxdrivethru.com</a> and check out the subscription options and special promotions under the tabs “PREMIUM SERVICE” and “PROMOTIONS”</li>\r\n	<li>If you want more data about the performance and my website does not answer your questions, contact me directly and I will supply the data you require.</li>\r\n	<li>THE PREMIUM SERVICE has subscribers with broker accounts of sizes ranging from $2,500 to over $100,000. A profitable trade is a profitable trade. It is all about trading according to the size of your broker account (EFFECTIVE POSITION SIZING) and applying RISK MANAGEMENT principles at all times.</li>\r\n</ul>\r\n<strong> </strong>\r\n<ol start=\"4\">\r\n	<li><strong> PREMIUM SERVICE (GOLD) EXCLUSIVE CONTENT:</strong></li>\r\n</ol>\r\n(This area contains exclusive content for PREMIUM SERVICE (GOLD) subscribers)\r\n\r\n4.1: THE PREMIUM SERVICE – TRADING REVIEW:\r\n(A look back at the past week’s highs and lows from trades undertaken and a look around at other relevant subscriber information):\r\n\r\nAs stated at the beginning of this week’s blog it was a strange week in the sense that I expected more and I felt a little flat at the end of the week, as it did not live up to my expectations.\r\n\r\nI am very happy with the profit/loss ratios now from the trade set-ups, without doubt the flexibility of entering trades with smaller positions allows stop loss flexibility without compromising risk and this I believe helps tremendously with the bottom line.\r\n\r\nWe ended last week with our normal trading account showing just 4 live trades and 6 limit orders ready and waiting. In this coming week, I will be looking to set up a EUR/USD trade. I decided against it on Friday and almost pressed the button on two occasions to trade short in 1.0770’s. Yes, yet another woulda, coulda, shoulda trade but in the end I was reasonably comfortable in the knowledge that in the DIVERGENT FUNDAMENTAL TRADES accounts I already had two short active trades working.\r\n\r\nI didn’t press the button because I was expecting another EUR/USD squeeze, which on that occasion did not happen. I think early next week, as 1.0800 seems to be a real sticking point for the EUR/USD a short as close to that area as possible should be the way to go forward.\r\n\r\nLast week we made good pips off EUR/USD and CHF related trades. I see no reason why this should not continue to be the case moving forward.\r\n\r\nThe profit/loss ratios are improving each week and this pleases me. Just after the SNB peg removal and the days of painful squeezes that followed, I never thought that I would achieve the ratios that I wanted again. Not quite there yet but hopefully at the end of business in November / early December I will be close to 80/20.\r\n\r\nThe PREMIUM SERVICE account is almost at the 2014 performance and it would be great to pass last years performance in year two. Just a few weeks left before I take a break over Christmas.\r\n\r\nI have had a couple of questions about what happens with the open trades through the end of year holidays. Basically, the DRIVE THRU blogs end and recommence next year as published on the website. I will be on twitter through the holidays updating and maybe adding trades. In addition, I need to be around for BOC, ECB and FOMC press conferences.\r\n\r\nThrough this break I will be completing the website speed changes with my ISP and website guru and the final changes to the DRIVE THRU blog will be made for the 2016 version.\r\n\r\nThe suggested changes should help me reduce administrative time, that whilst essential, is down time away from trading and research.\r\n\r\n&nbsp;\r\n\r\n4.2: THE DIVERGENT CB MONETARY POLICY – FUNDAMENTAL TRADES:\r\n\r\nWe are now into week two of these set-ups.\r\n\r\nI am delighted with the level of interest, in particular from my part-time traders, combined with my “Home of single-lot trading” I may have found a niche area.\r\n\r\nWe have 6 DIVERGENT FUNDAMENTAL trades live at this time with another 2 waiting with limit order entries.\r\n\r\nI hope to add more trade set-ups this week and will provide stacked entry trades in advance for some pairs, I know this is what my part-time traders want.\r\n\r\nI know from a more active trader perspective these trades are maybe a little boring as they are alive but parked away from the day-to-day routines, but from a part-time trader’s perspective these offer something.\r\n\r\nThe key is to trade light and be prepared to add when a trade has traction. I have yet to really decide when to remove profits. In the first week it was obvious based on the fall following NFP. In normal trading conditions it should be a little different.\r\n\r\nAs mentioned the feedback is very positive so far and from conversations it appears that most traders are trading fixed amounts per trade either 1 or 2 mini lots, or 5 micro lots per trade. So far only one trader has advised me that she is trading single standard lots.\r\n\r\nWhatever floats your boat, my only concern is that whatever you choose to do you do it with good RISK and MONEY MANAGEMENT principles and inside your TRADING PLAN criteria for POSITION SIZING etc.\r\n\r\n&nbsp;\r\n\r\n4.3: CHANGES TO MY PREFERRED FX BROKER LINEUP:\r\n\r\nMy new broker relationships to be advertised on DRIVE THRU website, Hantec Markets and Vantage FX, will both soon have their banners on the website landing page along with my existing three FX brokers, Blackwell Global, AvaTrade and FX Pro.\r\n\r\nIf anyone would like to open an additional trading account prior to the banners being launched from these new brokers just contact me.\r\n\r\n&nbsp;\r\n\r\n4.4: REVISIONS TO TRADE STYLE DEFINITIONS:\r\n\r\nAs I am now adding what I hope to be longer-term trades based upon “Divergent Central bank Policy” to the PREMIUM SERVICE, I think it is time to re-address the trade styles.\r\n\r\nA couple of you wanted to add a 4<sup>th</sup> trade style to cover these new trades. Instead of doing this I think its easier just to simplify what is there at the moment as follows: -\r\n\r\nFLASH TRADES:\r\nOpportunist trades in LIVE market conditions. These trades are either based off a pullback strategy, a GIMME 10 pips strategy, or, off momentum in a trading pair at the time of entry.\r\nThe goal is to either take 10-30 pips or see a sufficient move to place a protective stop in place to see if a swing trade develops.\r\nSome FLASH TRADES may form part of an overall trading plan with a given currency pair, but the entry could not be made via a LIMIT ORDER.\r\n\r\nRADAR TRADES:\r\nThese a pre-meditated entry trades set from either Fibonacci levels, pivot points or previous support and resistance based off a combination of horizontal or trend line support or resistance.\r\nThe goal is always if possible to swing trade these trades by establishing a position that if market conditions apply allow the trade to gather traction and develop into a longer-term position trade.\r\n\r\nFUNDAMENTAL TRADES:\r\nThese will be trades based off my TRADING PLAN goals for trades in line with my longer-term market views.\r\nTrades in this area will use in addition Fibonacci levels, Pivot points, trend lines and prior support and resistance levels, weekly and monthly ATR’s (Average True Ranges) when setting Stop Loss levels.\r\nThese trades are hopefully of a longer-term nature. They will be initially “single-lot” sized trades due to the wider stop placements that will be applied.\r\n\r\n4.5: MAJOR TRADING PAIRS WITH LONGER-TERM MATCHING TRENDS:\r\n(The 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/2015/11/PS-TRENDING-PAIRS-14112015.png\"><img class=\"aligncenter size-full wp-image-6790\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/PS-TRENDING-PAIRS-14112015.png\" alt=\"PS TRENDING PAIRS 14112015\" width=\"482\" height=\"621\" /></a>\r\n\r\n4.6: THE PREMIUM SERVICE - LIVE TRADES ARE:\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/PS-LIVE-TRADES-14112015.png\"><img class=\"aligncenter size-full wp-image-6789\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/PS-LIVE-TRADES-14112015.png\" alt=\"PS LIVE TRADES 14112015\" width=\"696\" height=\"548\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n4.7: THE PREMIUM SERVICE – LIMIT ORDER TRADES ARE:\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/PS-LIMIT-ORDERS-14112015.png\"><img class=\"aligncenter size-full wp-image-6788\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/PS-LIMIT-ORDERS-14112015.png\" alt=\"PS LIMIT ORDERS 14112015\" width=\"686\" height=\"435\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n4.8: POTENTIAL TRADES - WHAT PAIRS / CHARTS AM I LOOKING AT?\r\n\r\nWith having quite a lot of trades open already and with quite a few limit orders already in position, there are not as many charts as usual to review this week.\r\n\r\n<strong> <a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/AUDCHF-D-14112015.png\"><img class=\"aligncenter size-large wp-image-6799\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/AUDCHF-D-14112015-1024x514.png\" alt=\"AUDCHF D 14112015\" width=\"1024\" height=\"514\" /></a></strong>\r\n\r\n<strong> </strong>\r\n\r\n<strong> <a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/EURGBP-D-14112015.png\"><img class=\"aligncenter size-large wp-image-6800\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/EURGBP-D-14112015-1024x514.png\" alt=\"EURGBP D 14112015\" width=\"1024\" height=\"514\" /></a></strong>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/GBPCHF-D-14112015.png\"><img class=\"aligncenter size-large wp-image-6801\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/GBPCHF-D-14112015-1024x514.png\" alt=\"GBPCHF D 14112015\" width=\"1024\" height=\"514\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/NZDCHF-M-14112015.png\"><img class=\"aligncenter size-large wp-image-6802\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/NZDCHF-M-14112015-1024x514.png\" alt=\"NZDCHF M 14112015\" width=\"1024\" height=\"514\" /></a>\r\n\r\n&nbsp;\r\n<ol start=\"5\">\r\n	<li><strong> MY FINAL THOUGHTS:</strong></li>\r\n</ol>\r\nOVERVIEW OF TRADING TIPS &amp; THOUGHTS FOR THE WEEK AHEAD:\r\n\r\nWe are now entering a period when I hope that we will not stagnate waiting for the ECB and the FOMC to meet and inform.\r\n\r\nI think that institutional traders across all markets will be re-addressing their portfolios and making the required adjustments over the next two weeks or so. This could cause some periods of volatility so we should be ready as usual.\r\n\r\nIn the background the normal flows of economic data will provide the basis of day-to-day direction but these moves that emanate from an economic data release could be trumped by a reaction to breaking news from central banks or a positioning trade from a big player being placed or removed.\r\n\r\nRemember, there is not as much activity in the Forex markets this year in comparison to last year and a lot of the banks have lost big bucks trading FX this year. Therefore, liquidity issues are there for very large trades being dumped into the market.\r\n\r\nAs usual trade within your means, use your TRADE PLAN manage RISK with correct POSITION SIZING and STOP PLACEMENT.\r\n\r\nLongevity in trading is paramount to success. Success in trading is based mainly trading high probability trades with your RISKS MANAGED.\r\n\r\n&nbsp;\r\n\r\nTake care,\r\n\r\nScott Pickering\r\nThe Pip Accumulator\r\n<a href=\"https://weeklyfxdrivethru.com/disclaimer/\">https://weeklyfxdrivethru.com/disclaimer/\r\n</a>BLOG #81','THE CARDS HAVE BEEN DEALT - TIME TO PREPARE FOR 2016','','publish','open','closed','','the-cards-have-been-dealt-time-to-prepare-for-2016','','','2015-11-14 12:18:46','2015-11-14 17:18:46','',0,'https://weeklyfxdrivethru.com/?post_type=member_posts&#038;p=6809',0,'member_posts','',0),(6811,1,'2015-11-14 12:05:33','2015-11-14 17:05:33','<p style=\"text-align: center;\"><strong>THE PREMIUM SERVICE</strong>\r\n<strong>from the</strong>\r\n<strong>WEEKLY FX DRIVE THRU</strong>\r\n<strong>“The Home of Single Lot Trading”</strong></p>\r\n<strong> </strong>\r\n<ol>\r\n	<li><strong> THE FX MARKET PLACE:</strong></li>\r\n</ol>\r\nLOOKING BACKWARDS, FORWARDS &amp; SIDEWAYS (FOR GOOD MEASURE) AT THE FX MARKET:\r\n\r\n1.1: LOOKING BACKWARDS:\r\n\r\nFor me this was a week light on volume of Economic data, full of lots of Central Banker speeches but, in the end so much promise, but, bugger all delivery apart from Draghi on Thursday, in my opinion it flattered to deceive.\r\n\r\nWhat’s that well-known phrase I use from time to time when looking back over a weeks work… yes that’s right sh*t happens.\r\n\r\nAs one of my London (UK) subscribers says “Would you Adam and Eve it?” (Native cockney [someone from London] rhyming slang = believe) ie: Would you believe it?\r\n\r\nThe USD would appear to be in such demand that even though last Friday’s Retail Sales and Producer Price index data releases were poor / bordering awful, the USD was not taken to the woodshed and spanked, instead it rallied off the poor data.\r\n\r\nSo there you have it, it’s not just a buy the dips it just a buy, buy and buy. In my opinion this state of play could persist right the way through to the FED meeting in December. Equity bulls I would say at the moment are pooping in their pants. Is it time to buy shares in Costco the biggest seller of toilet tissue in the world?\r\n\r\nIf you are an equity bull, I think you can put you heads between legs lean forward kiss your own ass (not everyone can do this… FYi, I am one of these), whistle Dixie at the same time and forget about the Santa Claus rally this year.\r\n\r\nDates for your calendar are therefore: -\r\n\r\n3<sup>rd</sup> December 2015: ECB meeting in Frankfurt with press conference.\r\n16<sup>th</sup> December 2015: FOMC meeting with press conference.\r\n\r\nAt these meetings I am expecting: -\r\n\r\nECB:\r\n<ul>\r\n	<li>Confirmation of more Quantitative Easing (QE) to be added to the existing program.</li>\r\n	<li>A formal announcement of an extension of the existing program beyond September 2016.</li>\r\n	<li>Details of an extension to the types of bonds to be purchased.</li>\r\n	<li>A revision to the overnight deposit rate for central banks within the Eurozone.</li>\r\n	<li>Revisions of Eurozone growth targets to lower levels for 2016-2017.</li>\r\n</ul>\r\nFOMC:\r\n<ul>\r\n	<li>Confirmation of an initial rate increase, probably 0.25%.</li>\r\n	<li>Details from the economic projections “the dots” will be amended.</li>\r\n	<li>Information regarding when future rate increases could be introduced.</li>\r\n	<li>A revision of 2016-2017 growth objectives.</li>\r\n</ul>\r\n&nbsp;\r\n\r\nI am not an accountant. However, I strongly expect many revisions to the “books” going forward and the “egg-heads” at the FED and ECB will be number crunching from now right through to the dates above. Yup… them books will be cooked in Frankfurt and Washington as I type this blog.\r\n\r\n&nbsp;\r\n\r\n1.2: LOOKING FORWARD:\r\n\r\nMAJOR FOREX NEWS THIS WEEK THAT INTERESTS ME:\r\n(There are many more news items related to the Forex Market other than the ones listed below. These are the ones that interest me. You can go to <a href=\"http://www.forexfactory.com\">www.forexfactory.com</a> and <a href=\"http://www.tradingeconomics.com\">www.tradingeconomics.com</a> for a more comprehensive lists of all news events that are Forex related).\r\nSUNDAY: NZD – Retail Sales.\r\n\r\nMONDAY: EUR – Words of wisdom from Mario Draghi (ECB).\r\nMONDAY: CAD – Manufacturing Sales.\r\nMONDAY: AUD – Monetary Policy Meeting Minutes.\r\nMONDAY: NZD – Inflation Expectations.\r\n\r\nTUESDAY: GBP – CPi.\r\nTUESDAY: EUR – German ZEW Economic Sentiment.\r\nTUESDAY: USD – Core CPI and CPi Data.\r\nTUESDAY: NZD – Dairy Prices (GDT Price Index).\r\n\r\nWEDNESDAY: USD – FOMC Meeting Minutes.\r\nWEDNESDAY: JPY – BOJ Press Conference and Monetary Policy Statement.\r\n\r\nTHURSDAY: GBP – Retail Sales.\r\n\r\nFRIDAY: EUR – Words of wisdom from Mario Draghi (ECB).\r\nFRIDAY: CAD – Core Retail Sales and Core CPI.\r\n\r\n&nbsp;\r\n\r\nMY THOUGHTS ON THE NEWS ITEMS THIS COMING WEEK:\r\nIn comparison to last week’s economic data, we appear to have much more of a mixed bag.\r\n\r\nAll over the globe, growth is an issue. Deflation although not mentioned is an obvious issue.\r\n\r\nRegular readers will know I love to follow the consumer data. Without consumers buying goods and services what’s the point of manufacturing?\r\n\r\nFrom New Zealand we have Retail sales, Inflation data and Dairy prices. I am so bearish this NZD, despite all the issues surrounding the mis-leading, non- consistent information emanating from Graeme Wheeler (RBNZ Governor). He makes it a challenge to trade the Kiwi across the board, as in my opinion, it is about to be caught so badly with a China hard landing that is on the horizon<strong>.</strong>\r\n\r\nI always look forward to NZD data.\r\n\r\nIn the Eurozone apart from German ZEW, we have some comments due from Mario Draghi. You just never know what he might say. Always bear in mind his “Whatever it takes” was taken literally by the markets even though in his own words it was taken a little out of context. The EUR/USD is bordering on a breakdown and it can happen ahead of the December meetings.\r\n\r\nI would suspect that the ECB wants an orderly drop with the EUR/USD, frankly I couldn’t care less, give me 500 pips and a bounce to sell into. That would be just fine with me. However, I am certain they want a nice casual drop over an extended period. Whatever happens, all Eurozone data and comments will be scrutinized very closely.\r\n\r\nCanadian data fascinates me at the moment, not just because I currently live in Canada, but also because I do not believe most of the data. For the whole of 2014 false employment numbers were supplied to the markets by the government and when I look at some of the current data releases I think they are wish lists rather than the true picture. I am finally long the USD/CAD again and I am looking for a huge breakout higher. I am not long the USD/CAD however, with my longer-term FUNDAMENTAL TRADE set–ups yet and that is a cause of frustration. This Friday we have core retail sales and core CPi.\r\n\r\nI am expecting a rate cut from the BOC before the year-end, the next BOC meeting is on December 2<sup>nd</sup> 2015. Let’s see if it happens.\r\n\r\nWith regards to the USD, expect plenty of media attention and “off the cuff” quotes will be the order of each day this week, in fact, in my opinion the U.S. media frenzy over the FED rate hike will continue through to the December policy meeting and right up to the press conference.\r\n\r\n&nbsp;\r\n\r\nMY KEY SUPPORT &amp; RESISTANCE LEVELS THIS WEEK FOR USD MAJORS<strong>:\r\n</strong>In this section I have as usual kept my charts as minimalist as possible. All readers regardless of level of experience should be able to follow my thoughts from my comments to the levels on the charts with ease.\r\n\r\nAll of my thoughts, ideas and relevant comments are contained on the charts.\r\n\r\nEUR/USD - Weekly Closing Price: 1.0775\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/EURUSD-W-14112015.png\"><img class=\"aligncenter size-large wp-image-6793\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/EURUSD-W-14112015-1024x514.png\" alt=\"EURUSD W 14112015\" width=\"1024\" height=\"514\" /></a>\r\n\r\n&nbsp;\r\n\r\nGBP/USD - Weekly Closing Price: 1.5237\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/GBPUSD-D-14112015.png\"><img class=\"aligncenter size-large wp-image-6794\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/GBPUSD-D-14112015-1024x514.png\" alt=\"GBPUSD D 14112015\" width=\"1024\" height=\"514\" /></a>\r\n\r\n&nbsp;\r\n\r\nAUD/USD - Weekly Closing Price: 0.7130\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/AUDUSD-D-14112015.png\"><img class=\"aligncenter size-large wp-image-6792\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/AUDUSD-D-14112015-1024x514.png\" alt=\"AUDUSD D 14112015\" width=\"1024\" height=\"514\" /></a>\r\n\r\n&nbsp;\r\n\r\nNZD/USD - Weekly Closing Price: 0.6544\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/NZDUSD-D-14112015.png\"><img class=\"aligncenter size-large wp-image-6798\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/NZDUSD-D-14112015-1024x514.png\" alt=\"NZDUSD D 14112015\" width=\"1024\" height=\"514\" /></a>\r\n\r\n&nbsp;\r\n\r\nUSD/CAD - Weekly Closing Price: 1.3328\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/USDCAD-D-14112015.png\"><img class=\"aligncenter size-large wp-image-6797\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/USDCAD-D-14112015-1024x514.png\" alt=\"USDCAD D 14112015\" width=\"1024\" height=\"514\" /></a>\r\n\r\n&nbsp;\r\n\r\nUSD/CHF - Weekly Closing Price: 1.0063\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/USDCHF-D-14112015.png\"><img class=\"aligncenter size-large wp-image-6796\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/USDCHF-D-14112015-1024x514.png\" alt=\"USDCHF D 14112015\" width=\"1024\" height=\"514\" /></a>\r\n\r\n&nbsp;\r\n\r\nUSD/JPY - Weekly Closing Price: 122.65\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/USDJPY-D-14112015.png\"><img class=\"aligncenter size-large wp-image-6795\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/USDJPY-D-14112015-1024x514.png\" alt=\"USDJPY D 14112015\" width=\"1024\" height=\"514\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n1.3: LOOKING SIDEWAYS (FOR GOOD MEASURE):\r\n\r\nOver the past few weeks in this section I have been referring to specific trading issues.\r\n\r\nThis week I want to change topics and mention a new addition to my trade set-ups for subscribers.\r\n\r\nFrom November 1<sup>st</sup> I changed the definition and parameters for my fundamental trades set-ups. In the past, these trades intended to be of a longer-term nature had been more or less commodity cross rate trades, and although successful in 2015, because of market conditions they did not run for as long a time period as I had hoped for many reasons.\r\n\r\nFundamental trades are now based off central bank monetary policy divergence. In addition these are perfect set-ups for part-time traders who are not able to access screens very often, they are also open to all traders and many existing subscribers have embraced to concept of these trades and opened up separate broker accounts to keep these trades separate from core trades.\r\n\r\nAs a part-time Forex trader the markets this year made it virtually impossible to scratch out a reasonable additional income stream, in fact, many part-timers just disappeared.\r\n\r\nTheses trades are intended to be small position sizes with wider stops and wider limits based on divergence. There will be profit taking along the way and stops will be brought in to protect profits. My goal is to have multiple live trades in the same currency pair managing profits and minimizing losses as the core trade progresses.\r\n\r\nI am now going to introduce a daily FUNDAMENTAL TRADE email review, which will include trade amendments (if any) plus fresh set-ups so that part-time traders can find it easier to update trades from one location each day. It will also have its own section inside the PREMIUM SERVICE subscriber version of this blog.\r\n\r\nBelow is the initial excel spreadsheet for this month so far. It is a great start from which to build on.\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\nObviously these trade set-ups are available now for PREMIUM SERVICE subscribers.\r\n\r\nIf you are interested and want to know more, email me at the address on the excel spreadsheet.\r\n\r\nWithin the next few days, my website <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a> will have a specific TAB on the landing page referring to part-time fundamental trades and further details including profit projections and cash flow analysis for 2016 will be included.\r\n\r\nThis is a great opportunity for those who are part-time traders to add an additional income stream to their household budget or use it for a specific purchase. It also has the same appeal for full-time traders who may want to keep these trades separate from core trading activities.\r\n\r\n<strong> </strong>\r\n<ol start=\"2\">\r\n	<li><strong> WHAT’S ON MY MIND:</strong></li>\r\n</ol>\r\n<p style=\"text-align: center;\"><strong>THE CARDS HAVE </strong>BEEN<strong> DEALT - TIME TO PREPARE FOR 2016</strong></p>\r\nTo all intents and purposes it looks like the cards from the ECB and FED have been dealt.\r\n\r\nAt the moment though, it’s like a game of poker, I am not quite sure this particular type of poker is called, but you have two cards that no-one else can see and there are three cards face up on the table in front of you that the whole table can see.\r\n\r\nThis is how I view matters at the moment. Both Janet Yellen and Mario Draghi know what they have and how to play their hands but the final two cards will not be revealed until next month.\r\n\r\nFrom a trading perspective where does that leave us?\r\n\r\nI always like to gather as much opinion as possible to verify / confirm my own thoughts, whether they be market contrarian or not, or maybe after a small debate toss my own thoughts into the nearest waste paper bin.\r\n\r\nAs I referenced at the beginning of this blog poor U.S. data resulted in USD strength. I had a brief webinar meeting with my trading peer group at 6.00AM EST Friday morning about the upcoming news event.\r\n\r\nThis small group of four is built up as follows: -\r\n\r\nTwo of us have subscriber based options to our blogs, the next member is a fanatical Elliot-wave specialist (I am still confused) and the last member of our group is an ex bank employee chartist, pattern maker!\r\n\r\nOur focused discussion was based around the EUR/USD:\r\n\r\nTwo of the group wanted to close all trades ahead of the news expecting poor data. The chartist and I said were on the other side of the discussion, primarily based upon the fact that the EUR/USD could not hold above 1.0800 and was pushed back in the previous U.S. and Asian sessions. I already had two live EUR/USD trades set up with stop loss levels moved out from 1.0840 to 1.0900 to cope with a short squeeze. I had taken my FLASH and RADAR trades off the table the previous day and banked $$$. My remaining EUR/USD trades were DIVERGENT FUNDAMENTAL TRADES and on the basis that these were for the longer-term I was going to hold and then add at highs.\r\n\r\nI am not writing this because in the end 1.0800 held, it wasn\'t even tested after the news release, the markets had just decided they wanted to own the USD no matter what.\r\n\r\nI am writing this because I was reacting to the hand I was holding (figuratively speaking) with my open EUR/USD trades. Had I had open trades with EUR/USD as RADAR or FLASH trades my actions would have been different.\r\n\r\nI did at that time, and still do, own USD/CHF longs, NZD/USD shorts and USD/CAD longs. The reaction with commodities (Gold, Oil and Copper) ahead of the news, gave me comfort to hold the NZD and CAD trades open. With regards to the CHF, this currency is breaking out and a fall back was another buying opportunity to add. My primary concern was the EUR/USD only.\r\n\r\nSo basically, what I am saying is that we all play the cards we are dealt with when making choices or decisions in Forex trading.\r\n\r\nRight now we have about 60% of the picture that Yellen and Draghi have, maybe a little more. Looking ahead, I do not think that we will get a glimpse of the cards “in the box” that Yellen and Draghi hold until their individual big day arrives, although I do expect plenty of rumours as to what they are holding.\r\n\r\nFrom my perspective, I want to keep it simple… very simple.\r\n\r\nThe FED are the HAWKS and the ECB are the DOVES.\r\n\r\nThat’s it - end of story.\r\n\r\nIn my opinion the fun starts now after the poor U.S. data.\r\n\r\nTowards the close last Friday afternoon, the EUR/USD drifted up from lows of 1.0715 to 1.0775. I just see this as a selling opportunity early this week. Incidentally, the EUR/USD rallied 60 pips while the inverse relationship USD/CHF fell only 40 pips.\r\n\r\nI say that the fun starts now because the flood gates will once again be opened, the rocks will be lifted up, and from beneath the rocks the creatures that blessed our TV screens and twitter feeds earlier this year will once again be let loose.\r\n\r\nThese numpties who were saying back in January/ February this year that the EUR/USD was going to 0.8000, 0.9000, 0.9500 and parity etc. will be perched on stools behind desks on CNBC and BLOOMBERG spewing it out once again, in repeat format until we can take no more.\r\n\r\nThe fact is, they were wrong earlier this year with their timings, but now they could be right with their target prices albeit for different reasons.\r\n\r\nI have read umpteen bank reports with regards to the EUR/USD target price ranging from 0.8500 to 0.9500, and frankly this is very possible given the fact that we will be entering a period of at least two years if not more of divergent central bank policy. It is the FED versus the rest. Scary as it sounds, it is the FED on one side and the rest (ECB, BOE, BOJ, SNB, BOC, RBA and RBNZ) on the other side.\r\n\r\nRecently as traders it has all been about scalping and day trading. That style of trading has and always will be there and there are many great shorter time period trading specialists. But what about the longer-term perspective traders who like to plan taking a much longer-term view. Retail traders have had their accounts pressured in 2015 as it became more and more difficult to seek out these trades. Yes, there have been big moves but being able to grab them and plan the market did not allow for that this year in comparison to previous years. We have been in a state of limbo due to central bank policies not being clear or promises not being delivered on time. The delays created uncertainty and this uncertainty gave us choppy markets.\r\n\r\nLooking forward, those traders who adapted to day trading to make a living can now add back position trading.\r\n\r\nIt is now time to plan and strategize. I have already started but I will not be at full steam (100%) until early 2016. Once we have the FED’s plans on further rate increases the divergence will escalate and we have a full proposal from which to base from.\r\n\r\nFrom a traders perspective this is just brilliant. There should be both momentum and directional trading most of the time. There will be sideways moves and retracements from time to time but generally speaking trading with the power of a central bank behind you, you cannot ask for more.\r\n\r\nThere are obvious trades based around the USD majors. The USD/JPY being the exception, we need to see how it will react and this will then set the tone for the JPY cross pairs and of course the commodity cross rate pairs as well. Will we return to a simple risk on / risk off trading environment once again?\r\n\r\nWhatever happens, we have time to plan and select our favourite currency pairs to trade.\r\n\r\nWhilst I expect December to offer lots of trading opportunities in the interim period we can research and strategize ahead for next year. The great news is if you plan well in advance and establish core positions from which to add to or base, your strategy <strong>from</strong> 2016 has all the promise of being a great trading opportunity.\r\n\r\nOf course there will be risks but it is how we manage those risks, which creates differentiation away from the other traders.\r\n\r\nIn 2015 many traders left FX trading partly due to the EUR/CHF peg removal, millions of dollars were lost in a few hours. Then for a week or so thereafter, with uncertainty in the air there were numerous quite wicked squeezes. The traders, who left, called FX a “mugs game”, a “gamble”.\r\n\r\nThis is just NOT true.\r\n\r\nForex has always been and always will be about RISK MANAGEMENT and how you manage RISK. As retail traders we cannot move markets our “niche” is to capture bits of the moves created by banks and the large institutional investors. If we over leverage, or, poorly position ourselves with trades that is our problem through lack of knowledge, skill, ability or understanding.\r\n\r\nIn my opinion, there will never be a better time, a better opportunity to manage risk effectively, than next year 2016. We know the players and what cards they have to play with, we will have it all on the table before Christmas this year. You do not have to be a hero with big trades and risk your account.\r\n\r\nAs I have previously stated, this is for the longer-term. We have the opportunity to take profits bit by bit and grow our broker accounts organically with central bank policy behind our core moves.\r\n\r\nStart planning now.\r\n\r\n<strong> </strong>\r\n<ol start=\"3\">\r\n	<li><strong> THE PREMIUM SERVICE:</strong></li>\r\n</ol>\r\n3.1: SUMMARY OF YEAR TO DATE PERFORMANCE - 2015:\r\n<p style=\"text-align: center;\">PREMIUM SERVICE – COST INCOME ANALYSIS (USD):</p>\r\n<p style=\"text-align: center;\">PROFITS FROM TRADE SET-UPS – to November 14th 2015.\r\n(The profit levels below are based on single lot trades only)</p>\r\n<p style=\"text-align: center;\">MICRO LOT TRADER - 610 trades cost to trade = $60.10\r\n<strong>PROFIT</strong> from 610 trades = <strong>$1,111.70</strong></p>\r\n<p style=\"text-align: center;\">MINI LOT TRADER - 610 trades cost to trade = $610.00\r\n<strong>PROFIT</strong> from 610 trades = <strong>$11,117.00</strong></p>\r\n<p style=\"text-align: center;\">STANDARD LOT TRADER - 610 trades cost to trade = $6,100.00\r\n<strong>PROFIT</strong> from 610 trades = <strong>$111,170.00</strong></p>\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n3.2: PREMIUM SERVICE – 2015 PERFORMANCE TO DATE:\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/PS-PROFITS1-14112015.png\"><img class=\"aligncenter size-full wp-image-6781\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/PS-PROFITS1-14112015.png\" alt=\"PS PROFITS1 14112015\" width=\"525\" height=\"419\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/PS-PROFITS2-14112015.png\"><img class=\"aligncenter size-full wp-image-6782\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/PS-PROFITS2-14112015.png\" alt=\"PS PROFITS2 14112015\" width=\"536\" height=\"415\" /></a>\r\n\r\n&nbsp;\r\n\r\n3.3: PREMIUM SERVICE – 2014 TOTAL PERFORMANCE:\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/PS-PROFITS-2014.png\"><img class=\"aligncenter size-full wp-image-6791\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/PS-PROFITS-2014.png\" alt=\"PS PROFITS 2014\" width=\"529\" height=\"487\" /></a>\r\n\r\n&nbsp;\r\n\r\nNOTES:\r\n<ul>\r\n	<li>If the above return from Forex Trading interests you go to my website landing page at <a href=\"http://www.weeklyfxdrivethru.com\">weeklyfxdrivethru.com</a> and check out the subscription options and special promotions under the tabs “PREMIUM SERVICE” and “PROMOTIONS”</li>\r\n	<li>If you want more data about the performance and my website does not answer your questions, contact me directly and I will supply the data you require.</li>\r\n	<li>THE PREMIUM SERVICE has subscribers with broker accounts of sizes ranging from $2,500 to over $100,000. A profitable trade is a profitable trade. It is all about trading according to the size of your broker account (EFFECTIVE POSITION SIZING) and applying RISK MANAGEMENT principles at all times.</li>\r\n</ul>\r\n<strong> </strong>\r\n<ol start=\"4\">\r\n	<li><strong> PREMIUM SERVICE (GOLD) EXCLUSIVE CONTENT:</strong></li>\r\n</ol>\r\n(This area contains exclusive content for PREMIUM SERVICE (GOLD) subscribers)\r\n\r\n4.1: THE PREMIUM SERVICE – TRADING REVIEW:\r\n(A look back at the past week’s highs and lows from trades undertaken and a look around at other relevant subscriber information):\r\n\r\nAs stated at the beginning of this week’s blog it was a strange week in the sense that I expected more and I felt a little flat at the end of the week, as it did not live up to my expectations.\r\n\r\nI am very happy with the profit/loss ratios now from the trade set-ups, without doubt the flexibility of entering trades with smaller positions allows stop loss flexibility without compromising risk and this I believe helps tremendously with the bottom line.\r\n\r\nWe ended last week with our normal trading account showing just 4 live trades and 6 limit orders ready and waiting. In this coming week, I will be looking to set up a EUR/USD trade. I decided against it on Friday and almost pressed the button on two occasions to trade short in 1.0770’s. Yes, yet another woulda, coulda, shoulda trade but in the end I was reasonably comfortable in the knowledge that in the DIVERGENT FUNDAMENTAL TRADES accounts I already had two short active trades working.\r\n\r\nI didn’t press the button because I was expecting another EUR/USD squeeze, which on that occasion did not happen. I think early next week, as 1.0800 seems to be a real sticking point for the EUR/USD a short as close to that area as possible should be the way to go forward.\r\n\r\nLast week we made good pips off EUR/USD and CHF related trades. I see no reason why this should not continue to be the case moving forward.\r\n\r\nThe profit/loss ratios are improving each week and this pleases me. Just after the SNB peg removal and the days of painful squeezes that followed, I never thought that I would achieve the ratios that I wanted again. Not quite there yet but hopefully at the end of business in November / early December I will be close to 80/20.\r\n\r\nThe PREMIUM SERVICE account is almost at the 2014 performance and it would be great to pass last years performance in year two. Just a few weeks left before I take a break over Christmas.\r\n\r\nI have had a couple of questions about what happens with the open trades through the end of year holidays. Basically, the DRIVE THRU blogs end and recommence next year as published on the website. I will be on twitter through the holidays updating and maybe adding trades. In addition, I need to be around for BOC, ECB and FOMC press conferences.\r\n\r\nThrough this break I will be completing the website speed changes with my ISP and website guru and the final changes to the DRIVE THRU blog will be made for the 2016 version.\r\n\r\nThe suggested changes should help me reduce administrative time, that whilst essential, is down time away from trading and research.\r\n\r\n&nbsp;\r\n\r\n4.2: THE DIVERGENT CB MONETARY POLICY – FUNDAMENTAL TRADES:\r\n\r\nWe are now into week two of these set-ups.\r\n\r\nI am delighted with the level of interest, in particular from my part-time traders, combined with my “Home of single-lot trading” I may have found a niche area.\r\n\r\nWe have 6 DIVERGENT FUNDAMENTAL trades live at this time with another 2 waiting with limit order entries.\r\n\r\nI hope to add more trade set-ups this week and will provide stacked entry trades in advance for some pairs, I know this is what my part-time traders want.\r\n\r\nI know from a more active trader perspective these trades are maybe a little boring as they are alive but parked away from the day-to-day routines, but from a part-time trader’s perspective these offer something.\r\n\r\nThe key is to trade light and be prepared to add when a trade has traction. I have yet to really decide when to remove profits. In the first week it was obvious based on the fall following NFP. In normal trading conditions it should be a little different.\r\n\r\nAs mentioned the feedback is very positive so far and from conversations it appears that most traders are trading fixed amounts per trade either 1 or 2 mini lots, or 5 micro lots per trade. So far only one trader has advised me that she is trading single standard lots.\r\n\r\nWhatever floats your boat, my only concern is that whatever you choose to do you do it with good RISK and MONEY MANAGEMENT principles and inside your TRADING PLAN criteria for POSITION SIZING etc.\r\n\r\n&nbsp;\r\n\r\n4.3: CHANGES TO MY PREFERRED FX BROKER LINEUP:\r\n\r\nMy new broker relationships to be advertised on DRIVE THRU website, Hantec Markets and Vantage FX, will both soon have their banners on the website landing page along with my existing three FX brokers, Blackwell Global, AvaTrade and FX Pro.\r\n\r\nIf anyone would like to open an additional trading account prior to the banners being launched from these new brokers just contact me.\r\n\r\n&nbsp;\r\n\r\n4.4: REVISIONS TO TRADE STYLE DEFINITIONS:\r\n\r\nAs I am now adding what I hope to be longer-term trades based upon “Divergent Central bank Policy” to the PREMIUM SERVICE, I think it is time to re-address the trade styles.\r\n\r\nA couple of you wanted to add a 4<sup>th</sup> trade style to cover these new trades. Instead of doing this I think its easier just to simplify what is there at the moment as follows: -\r\n\r\nFLASH TRADES:\r\nOpportunist trades in LIVE market conditions. These trades are either based off a pullback strategy, a GIMME10 strategy, or off momentum in a trading pair at the time of entry.\r\nThe goal is to either take 10-30 pips or see a sufficient move to place a protective stop in place to see if a swing trade develops.\r\nSome FLASH TRADES may form part of an overall trading plan with a given currency pair, but the entry could not be made via a LIMIT ORDER.\r\n\r\nRADAR TRADES:\r\nThese a pre-meditated entry trades set from either Fibonacci levels, pivot points or previous support and resistance based off a combination of horizontal or trend line support or resistance.\r\nThe goal is always if possible to swing trade these trades by establishing a position that if market conditions apply allow the trade to gather traction and develop into a longer-term position trade.\r\n\r\nFUNDAMENTAL TRADES:\r\nThese will be trades based off my TRADING PLAN goals for trades in line with my longer-term market views.\r\nTrades in this area will use in addition Fibonacci levels, Pivot points, trend lines and prior support and resistance levels, weekly and monthly ATR’s (Average True Ranges) when setting Stop Loss levels.\r\nThese trades are hopefully of a longer-term nature. They will be initially “single-lot” sized trades due to the wider stop placements that will be applied.\r\n\r\n4.5: MAJOR TRADING PAIRS WITH LONGER-TERM MATCHING TRENDS:\r\n(The 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/2015/11/PS-TRENDING-PAIRS-14112015.png\"><img class=\"aligncenter size-full wp-image-6790\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/PS-TRENDING-PAIRS-14112015.png\" alt=\"PS TRENDING PAIRS 14112015\" width=\"482\" height=\"621\" /></a>\r\n\r\n4.6: THE PREMIUM SERVICE - LIVE TRADES ARE:\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/PS-LIVE-TRADES-14112015.png\"><img class=\"aligncenter size-full wp-image-6789\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/PS-LIVE-TRADES-14112015.png\" alt=\"PS LIVE TRADES 14112015\" width=\"696\" height=\"548\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n4.7: THE PREMIUM SERVICE – LIMIT ORDER TRADES ARE:\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/PS-LIMIT-ORDERS-14112015.png\"><img class=\"aligncenter size-full wp-image-6788\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/PS-LIMIT-ORDERS-14112015.png\" alt=\"PS LIMIT ORDERS 14112015\" width=\"686\" height=\"435\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n4.8: POTENTIAL TRADES - WHAT PAIRS / CHARTS AM I LOOKING AT?\r\n\r\nWith having quite a lot of trades open already and with quite a few limit orders already in position, there are not as many charts as usual to review this week.\r\n\r\n<strong> <a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/AUDCHF-D-14112015.png\"><img class=\"aligncenter size-large wp-image-6799\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/AUDCHF-D-14112015-1024x514.png\" alt=\"AUDCHF D 14112015\" width=\"1024\" height=\"514\" /></a></strong>\r\n\r\n<strong> </strong>\r\n\r\n<strong> <a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/EURGBP-D-14112015.png\"><img class=\"aligncenter size-large wp-image-6800\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/EURGBP-D-14112015-1024x514.png\" alt=\"EURGBP D 14112015\" width=\"1024\" height=\"514\" /></a></strong>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/GBPCHF-D-14112015.png\"><img class=\"aligncenter size-large wp-image-6801\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/GBPCHF-D-14112015-1024x514.png\" alt=\"GBPCHF D 14112015\" width=\"1024\" height=\"514\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/NZDCHF-M-14112015.png\"><img class=\"aligncenter size-large wp-image-6802\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/NZDCHF-M-14112015-1024x514.png\" alt=\"NZDCHF M 14112015\" width=\"1024\" height=\"514\" /></a>\r\n\r\n&nbsp;\r\n<ol start=\"5\">\r\n	<li><strong> MY FINAL THOUGHTS:</strong></li>\r\n</ol>\r\nOVERVIEW OF TRADING TIPS &amp; THOUGHTS FOR THE WEEK AHEAD:\r\n\r\nWe are now entering a period when I hope that we will not stagnate waiting for the ECB and the FOMC to meet and inform.\r\n\r\nI think that institutional traders across all markets will be re-addressing their portfolios and making the required adjustments over the next two weeks or so. This could cause some periods of volatility so we should be ready as usual.\r\n\r\nIn the background the normal flows of economic data will provide the basis of day-to-day direction but these moves that emanate from an economic data release could be trumped by a reaction to breaking news from central banks or a positioning trade from a big player being placed or removed.\r\n\r\nRemember, there is not as much activity in the Forex markets this year in comparison to last year and a lot of the banks have lost big bucks trading FX this year. Therefore, liquidity issues are there for very large trades being dumped into the market.\r\n\r\nAs usual trade within your means, use your TRADE PLAN manage RISK with correct POSITION SIZING and STOP PLACEMENT.\r\n\r\nLongevity in trading is paramount to success. Success in trading is based mainly trading high probability trades with your RISKS MANAGED.\r\n\r\n&nbsp;\r\n\r\nTake care,\r\n\r\nScott Pickering\r\nThe Pip Accumulator\r\n<a href=\"https://weeklyfxdrivethru.com/disclaimer/\">https://weeklyfxdrivethru.com/disclaimer/\r\n</a>BLOG #81','THE CARDS HAVE BEEN DEALT - TIME TO PREPARE FOR 2016','','inherit','closed','closed','','6809-revision-v1','','','2015-11-14 12:05:33','2015-11-14 17:05:33','',6809,'https://weeklyfxdrivethru.com/6809-revision-v1/',0,'revision','',0),(6812,1,'2015-11-14 12:07:29','2015-11-14 17:07:29','<p style=\"text-align: center;\"><strong>THE PREMIUM SERVICE</strong>\r\n<strong>from the</strong>\r\n<strong>WEEKLY FX DRIVE THRU</strong>\r\n<strong>“The Home of Single Lot Trading”</strong></p>\r\n<strong> </strong>\r\n<ol>\r\n	<li><strong> THE FX MARKET PLACE:</strong></li>\r\n</ol>\r\nLOOKING BACKWARDS, FORWARDS &amp; SIDEWAYS (FOR GOOD MEASURE) AT THE FX MARKET:\r\n\r\n1.1: LOOKING BACKWARDS:\r\n\r\nFor me this was a week light on volume of Economic data, full of lots of Central Banker speeches but, in the end so much promise, but, bugger all delivery apart from Draghi on Thursday, in my opinion it flattered to deceive.\r\n\r\nWhat’s that well-known phrase I use from time to time when looking back over a weeks work… yes that’s right sh*t happens.\r\n\r\nAs one of my London (UK) subscribers says “Would you Adam and Eve it?” (Native cockney [someone from London] rhyming slang = believe) ie: Would you believe it?\r\n\r\nThe USD would appear to be in such demand that even though last Friday’s Retail Sales and Producer Price index data releases were poor / bordering awful, the USD was not taken to the woodshed and spanked, instead it rallied off the poor data.\r\n\r\nSo there you have it, it’s not just a buy the dips it just a buy, buy and buy. In my opinion this state of play could persist right the way through to the FED meeting in December. Equity bulls I would say at the moment are pooping in their pants. Is it time to buy shares in Costco the biggest seller of toilet tissue in the world?\r\n\r\nIf you are an equity bull, I think you can put you heads between legs lean forward kiss your own ass (not everyone can do this… FYi, I am one of these), whistle Dixie at the same time and forget about the Santa Claus rally this year.\r\n\r\nDates for your calendar are therefore: -\r\n\r\n3<sup>rd</sup> December 2015: ECB meeting in Frankfurt with press conference.\r\n16<sup>th</sup> December 2015: FOMC meeting with press conference.\r\n\r\nAt these meetings I am expecting: -\r\n\r\nECB:\r\n<ul>\r\n	<li>Confirmation of more Quantitative Easing (QE) to be added to the existing program.</li>\r\n	<li>A formal announcement of an extension of the existing program beyond September 2016.</li>\r\n	<li>Details of an extension to the types of bonds to be purchased.</li>\r\n	<li>A revision to the overnight deposit rate for central banks within the Eurozone.</li>\r\n	<li>Revisions of Eurozone growth targets to lower levels for 2016-2017.</li>\r\n</ul>\r\nFOMC:\r\n<ul>\r\n	<li>Confirmation of an initial rate increase, probably 0.25%.</li>\r\n	<li>Details from the economic projections “the dots” will be amended.</li>\r\n	<li>Information regarding when future rate increases could be introduced.</li>\r\n	<li>A revision of 2016-2017 growth objectives.</li>\r\n</ul>\r\n&nbsp;\r\n\r\nI am not an accountant. However, I strongly expect many revisions to the “books” going forward and the “egg-heads” at the FED and ECB will be number crunching from now right through to the dates above. Yup… them books will be cooked in Frankfurt and Washington as I type this blog.\r\n\r\n&nbsp;\r\n\r\n1.2: LOOKING FORWARD:\r\n\r\nMAJOR FOREX NEWS THIS WEEK THAT INTERESTS ME:\r\n(There are many more news items related to the Forex Market other than the ones listed below. These are the ones that interest me. You can go to <a href=\"http://www.forexfactory.com\">www.forexfactory.com</a> and <a href=\"http://www.tradingeconomics.com\">www.tradingeconomics.com</a> for a more comprehensive lists of all news events that are Forex related).\r\nSUNDAY: NZD – Retail Sales.\r\n\r\nMONDAY: EUR – Words of wisdom from Mario Draghi (ECB).\r\nMONDAY: CAD – Manufacturing Sales.\r\nMONDAY: AUD – Monetary Policy Meeting Minutes.\r\nMONDAY: NZD – Inflation Expectations.\r\n\r\nTUESDAY: GBP – CPi.\r\nTUESDAY: EUR – German ZEW Economic Sentiment.\r\nTUESDAY: USD – Core CPI and CPi Data.\r\nTUESDAY: NZD – Dairy Prices (GDT Price Index).\r\n\r\nWEDNESDAY: USD – FOMC Meeting Minutes.\r\nWEDNESDAY: JPY – BOJ Press Conference and Monetary Policy Statement.\r\n\r\nTHURSDAY: GBP – Retail Sales.\r\n\r\nFRIDAY: EUR – Words of wisdom from Mario Draghi (ECB).\r\nFRIDAY: CAD – Core Retail Sales and Core CPI.\r\n\r\n&nbsp;\r\n\r\nMY THOUGHTS ON THE NEWS ITEMS THIS COMING WEEK:\r\nIn comparison to last week’s economic data, we appear to have much more of a mixed bag.\r\n\r\nAll over the globe, growth is an issue. Deflation although not mentioned is an obvious issue.\r\n\r\nRegular readers will know I love to follow the consumer data. Without consumers buying goods and services what’s the point of manufacturing?\r\n\r\nFrom New Zealand we have Retail sales, Inflation data and Dairy prices. I am so bearish this NZD, despite all the issues surrounding the mis-leading, non- consistent information emanating from Graeme Wheeler (RBNZ Governor). He makes it a challenge to trade the Kiwi across the board, as in my opinion, it is about to be caught so badly with a China hard landing that is on the horizon<strong>.</strong>\r\n\r\nI always look forward to NZD data.\r\n\r\nIn the Eurozone apart from German ZEW, we have some comments due from Mario Draghi. You just never know what he might say. Always bear in mind his “Whatever it takes” was taken literally by the markets even though in his own words it was taken a little out of context. The EUR/USD is bordering on a breakdown and it can happen ahead of the December meetings.\r\n\r\nI would suspect that the ECB wants an orderly drop with the EUR/USD, frankly I couldn’t care less, give me 500 pips and a bounce to sell into. That would be just fine with me. However, I am certain they want a nice casual drop over an extended period. Whatever happens, all Eurozone data and comments will be scrutinized very closely.\r\n\r\nCanadian data fascinates me at the moment, not just because I currently live in Canada, but also because I do not believe most of the data. For the whole of 2014 false employment numbers were supplied to the markets by the government and when I look at some of the current data releases I think they are wish lists rather than the true picture. I am finally long the USD/CAD again and I am looking for a huge breakout higher. I am not long the USD/CAD however, with my longer-term FUNDAMENTAL TRADE set–ups yet and that is a cause of frustration. This Friday we have core retail sales and core CPi.\r\n\r\nI am expecting a rate cut from the BOC before the year-end, the next BOC meeting is on December 2<sup>nd</sup> 2015. Let’s see if it happens.\r\n\r\nWith regards to the USD, expect plenty of media attention and “off the cuff” quotes will be the order of each day this week, in fact, in my opinion the U.S. media frenzy over the FED rate hike will continue through to the December policy meeting and right up to the press conference.\r\n\r\n&nbsp;\r\n\r\nMY KEY SUPPORT &amp; RESISTANCE LEVELS THIS WEEK FOR USD MAJORS<strong>:\r\n</strong>In this section I have as usual kept my charts as minimalist as possible. All readers regardless of level of experience should be able to follow my thoughts from my comments to the levels on the charts with ease.\r\n\r\nAll of my thoughts, ideas and relevant comments are contained on the charts.\r\n\r\nEUR/USD - Weekly Closing Price: 1.0775\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/EURUSD-W-14112015.png\"><img class=\"aligncenter size-large wp-image-6793\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/EURUSD-W-14112015-1024x514.png\" alt=\"EURUSD W 14112015\" width=\"1024\" height=\"514\" /></a>\r\n\r\n&nbsp;\r\n\r\nGBP/USD - Weekly Closing Price: 1.5237\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/GBPUSD-D-14112015.png\"><img class=\"aligncenter size-large wp-image-6794\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/GBPUSD-D-14112015-1024x514.png\" alt=\"GBPUSD D 14112015\" width=\"1024\" height=\"514\" /></a>\r\n\r\n&nbsp;\r\n\r\nAUD/USD - Weekly Closing Price: 0.7130\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/AUDUSD-D-14112015.png\"><img class=\"aligncenter size-large wp-image-6792\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/AUDUSD-D-14112015-1024x514.png\" alt=\"AUDUSD D 14112015\" width=\"1024\" height=\"514\" /></a>\r\n\r\n&nbsp;\r\n\r\nNZD/USD - Weekly Closing Price: 0.6544\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/NZDUSD-D-14112015.png\"><img class=\"aligncenter size-large wp-image-6798\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/NZDUSD-D-14112015-1024x514.png\" alt=\"NZDUSD D 14112015\" width=\"1024\" height=\"514\" /></a>\r\n\r\n&nbsp;\r\n\r\nUSD/CAD - Weekly Closing Price: 1.3328\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/USDCAD-D-14112015.png\"><img class=\"aligncenter size-large wp-image-6797\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/USDCAD-D-14112015-1024x514.png\" alt=\"USDCAD D 14112015\" width=\"1024\" height=\"514\" /></a>\r\n\r\n&nbsp;\r\n\r\nUSD/CHF - Weekly Closing Price: 1.0063\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/USDCHF-D-14112015.png\"><img class=\"aligncenter size-large wp-image-6796\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/USDCHF-D-14112015-1024x514.png\" alt=\"USDCHF D 14112015\" width=\"1024\" height=\"514\" /></a>\r\n\r\n&nbsp;\r\n\r\nUSD/JPY - Weekly Closing Price: 122.65\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/USDJPY-D-14112015.png\"><img class=\"aligncenter size-large wp-image-6795\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/USDJPY-D-14112015-1024x514.png\" alt=\"USDJPY D 14112015\" width=\"1024\" height=\"514\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n1.3: LOOKING SIDEWAYS (FOR GOOD MEASURE):\r\n\r\nOver the past few weeks in this section I have been referring to specific trading issues.\r\n\r\nThis week I want to change topics and mention a new addition to my trade set-ups for subscribers.\r\n\r\nFrom November 1<sup>st</sup> I changed the definition and parameters for my fundamental trades set-ups. In the past, these trades intended to be of a longer-term nature had been more or less commodity cross rate trades, and although successful in 2015, because of market conditions they did not run for as long a time period as I had hoped for many reasons.\r\n\r\nFundamental trades are now based off central bank monetary policy divergence. In addition these are perfect set-ups for part-time traders who are not able to access screens very often, they are also open to all traders and many existing subscribers have embraced to concept of these trades and opened up separate broker accounts to keep these trades separate from core trades.\r\n\r\nAs a part-time Forex trader the markets this year made it virtually impossible to scratch out a reasonable additional income stream, in fact, many part-timers just disappeared.\r\n\r\nTheses trades are intended to be small position sizes with wider stops and wider limits based on divergence. There will be profit taking along the way and stops will be brought in to protect profits. My goal is to have multiple live trades in the same currency pair managing profits and minimizing losses as the core trade progresses.\r\n\r\nI am now going to introduce a daily FUNDAMENTAL TRADE email review, which will include trade amendments (if any) plus fresh set-ups so that part-time traders can find it easier to update trades from one location each day. It will also have its own section inside the PREMIUM SERVICE subscriber version of this blog.\r\n\r\nBelow is the initial excel spreadsheet for this month so far. It is a great start from which to build on.\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\nObviously these trade set-ups are available now for PREMIUM SERVICE subscribers.\r\n\r\nIf you are interested and want to know more, email me at the address on the excel spreadsheet.\r\n\r\nWithin the next few days, my website <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a> will have a specific TAB on the landing page referring to part-time fundamental trades and further details including profit projections and cash flow analysis for 2016 will be included.\r\n\r\nThis is a great opportunity for those who are part-time traders to add an additional income stream to their household budget or use it for a specific purchase. It also has the same appeal for full-time traders who may want to keep these trades separate from core trading activities.\r\n\r\n<strong> </strong>\r\n<ol start=\"2\">\r\n	<li><strong> WHAT’S ON MY MIND:</strong></li>\r\n</ol>\r\n<p style=\"text-align: center;\"><strong>THE CARDS HAVE </strong>BEEN<strong> DEALT - TIME TO PREPARE FOR 2016</strong></p>\r\nTo all intents and purposes it looks like the cards from the ECB and FED have been dealt.\r\n\r\nAt the moment though, it’s like a game of poker, I am not quite sure this particular type of poker is called, but you have two cards that no-one else can see and there are three cards face up on the table in front of you that the whole table can see.\r\n\r\nThis is how I view matters at the moment. Both Janet Yellen and Mario Draghi know what they have and how to play their hands but the final two cards will not be revealed until next month.\r\n\r\nFrom a trading perspective where does that leave us?\r\n\r\nI always like to gather as much opinion as possible to verify / confirm my own thoughts, whether they be market contrarian or not, or maybe after a small debate toss my own thoughts into the nearest waste paper bin.\r\n\r\nAs I referenced at the beginning of this blog poor U.S. data resulted in USD strength. I had a brief webinar meeting with my trading peer group at 6.00AM EST Friday morning about the upcoming news event.\r\n\r\nThis small group of four is built up as follows: -\r\n\r\nTwo of us have subscriber based options to our blogs, the next member is a fanatical Elliot-wave specialist (I am still confused) and the last member of our group is an ex bank employee chartist, pattern maker!\r\n\r\nOur focused discussion was based around the EUR/USD:\r\n\r\nTwo of the group wanted to close all trades ahead of the news expecting poor data. The chartist and I said were on the other side of the discussion, primarily based upon the fact that the EUR/USD could not hold above 1.0800 and was pushed back in the previous U.S. and Asian sessions. I already had two live EUR/USD trades set up with stop loss levels moved out from 1.0840 to 1.0900 to cope with a short squeeze. I had taken my FLASH and RADAR trades off the table the previous day and banked $$$. My remaining EUR/USD trades were DIVERGENT FUNDAMENTAL TRADES and on the basis that these were for the longer-term I was going to hold and then add at highs.\r\n\r\nI am not writing this because in the end 1.0800 held, it wasn\'t even tested after the news release, the markets had just decided they wanted to own the USD no matter what.\r\n\r\nI am writing this because I was reacting to the hand I was holding (figuratively speaking) with my open EUR/USD trades. Had I had open trades with EUR/USD as RADAR or FLASH trades my actions would have been different.\r\n\r\nI did at that time, and still do, own USD/CHF longs, NZD/USD shorts and USD/CAD longs. The reaction with commodities (Gold, Oil and Copper) ahead of the news, gave me comfort to hold the NZD and CAD trades open. With regards to the CHF, this currency is breaking out and a fall back was another buying opportunity to add. My primary concern was the EUR/USD only.\r\n\r\nSo basically, what I am saying is that we all play the cards we are dealt with when making choices or decisions in Forex trading.\r\n\r\nRight now we have about 60% of the picture that Yellen and Draghi have, maybe a little more. Looking ahead, I do not think that we will get a glimpse of the cards “in the box” that Yellen and Draghi hold until their individual big day arrives, although I do expect plenty of rumours as to what they are holding.\r\n\r\nFrom my perspective, I want to keep it simple… very simple.\r\n\r\nThe FED are the HAWKS and the ECB are the DOVES.\r\n\r\nThat’s it - end of story.\r\n\r\nIn my opinion the fun starts now after the poor U.S. data.\r\n\r\nTowards the close last Friday afternoon, the EUR/USD drifted up from lows of 1.0715 to 1.0775. I just see this as a selling opportunity early this week. Incidentally, the EUR/USD rallied 60 pips while the inverse relationship USD/CHF fell only 40 pips.\r\n\r\nI say that the fun starts now because the flood gates will once again be opened, the rocks will be lifted up, and from beneath the rocks the creatures that blessed our TV screens and twitter feeds earlier this year will once again be let loose.\r\n\r\nThese numpties who were saying back in January/ February this year that the EUR/USD was going to 0.8000, 0.9000, 0.9500 and parity etc. will be perched on stools behind desks on CNBC and BLOOMBERG spewing it out once again, in repeat format until we can take no more.\r\n\r\nThe fact is, they were wrong earlier this year with their timings, but now they could be right with their target prices albeit for different reasons.\r\n\r\nI have read umpteen bank reports with regards to the EUR/USD target price ranging from 0.8500 to 0.9500, and frankly this is very possible given the fact that we will be entering a period of at least two years if not more of divergent central bank policy. It is the FED versus the rest. Scary as it sounds, it is the FED on one side and the rest (ECB, BOE, BOJ, SNB, BOC, RBA and RBNZ) on the other side.\r\n\r\nRecently as traders it has all been about scalping and day trading. That style of trading has and always will be there and there are many great shorter time period trading specialists. But what about the longer-term perspective traders who like to plan taking a much longer-term view. Retail traders have had their accounts pressured in 2015 as it became more and more difficult to seek out these trades. Yes, there have been big moves but being able to grab them and plan the market did not allow for that this year in comparison to previous years. We have been in a state of limbo due to central bank policies not being clear or promises not being delivered on time. The delays created uncertainty and this uncertainty gave us choppy markets.\r\n\r\nLooking forward, those traders who adapted to day trading to make a living can now add back position trading.\r\n\r\nIt is now time to plan and strategize. I have already started but I will not be at full steam (100%) until early 2016. Once we have the FED’s plans on further rate increases the divergence will escalate and we have a full proposal from which to base from.\r\n\r\nFrom a traders perspective this is just brilliant. There should be both momentum and directional trading most of the time. There will be sideways moves and retracements from time to time but generally speaking trading with the power of a central bank behind you, you cannot ask for more.\r\n\r\nThere are obvious trades based around the USD majors. The USD/JPY being the exception, we need to see how it will react and this will then set the tone for the JPY cross pairs and of course the commodity cross rate pairs as well. Will we return to a simple risk on / risk off trading environment once again?\r\n\r\nWhatever happens, we have time to plan and select our favourite currency pairs to trade.\r\n\r\nWhilst I expect December to offer lots of trading opportunities in the interim period we can research and strategize ahead for next year. The great news is if you plan well in advance and establish core positions from which to add to or base, your strategy <strong>from</strong> 2016 has all the promise of being a great trading opportunity.\r\n\r\nOf course there will be risks but it is how we manage those risks, which creates differentiation away from the other traders.\r\n\r\nIn 2015 many traders left FX trading partly due to the EUR/CHF peg removal, millions of dollars were lost in a few hours. Then for a week or so thereafter, with uncertainty in the air there were numerous quite wicked squeezes. The traders, who left, called FX a “mugs game”, a “gamble”.\r\n\r\nThis is just NOT true.\r\n\r\nForex has always been and always will be about RISK MANAGEMENT and how you manage RISK. As retail traders we cannot move markets our “niche” is to capture bits of the moves created by banks and the large institutional investors. If we over leverage, or, poorly position ourselves with trades that is our problem through lack of knowledge, skill, ability or understanding.\r\n\r\nIn my opinion, there will never be a better time, a better opportunity to manage risk effectively, than next year 2016. We know the players and what cards they have to play with, we will have it all on the table before Christmas this year. You do not have to be a hero with big trades and risk your account.\r\n\r\nAs I have previously stated, this is for the longer-term. We have the opportunity to take profits bit by bit and grow our broker accounts organically with central bank policy behind our core moves.\r\n\r\nStart planning now.\r\n\r\n<strong> </strong>\r\n<ol start=\"3\">\r\n	<li><strong> THE PREMIUM SERVICE:</strong></li>\r\n</ol>\r\n3.1: SUMMARY OF YEAR TO DATE PERFORMANCE - 2015:\r\n<p style=\"text-align: center;\">PREMIUM SERVICE – COST INCOME ANALYSIS (USD):</p>\r\n<p style=\"text-align: center;\">PROFITS FROM TRADE SET-UPS – to November 14th 2015.\r\n(The profit levels below are based on single lot trades only)</p>\r\n<p style=\"text-align: center;\">MICRO LOT TRADER - 610 trades cost to trade = $60.10\r\n<strong>PROFIT</strong> from 610 trades = <strong>$1,111.70</strong></p>\r\n<p style=\"text-align: center;\">MINI LOT TRADER - 610 trades cost to trade = $610.00\r\n<strong>PROFIT</strong> from 610 trades = <strong>$11,117.00</strong></p>\r\n<p style=\"text-align: center;\">STANDARD LOT TRADER - 610 trades cost to trade = $6,100.00\r\n<strong>PROFIT</strong> from 610 trades = <strong>$111,170.00</strong></p>\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n3.2: PREMIUM SERVICE – 2015 PERFORMANCE TO DATE:\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/PS-PROFITS1-14112015.png\"><img class=\"aligncenter size-full wp-image-6781\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/PS-PROFITS1-14112015.png\" alt=\"PS PROFITS1 14112015\" width=\"525\" height=\"419\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/PS-PROFITS2-14112015.png\"><img class=\"aligncenter size-full wp-image-6782\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/PS-PROFITS2-14112015.png\" alt=\"PS PROFITS2 14112015\" width=\"536\" height=\"415\" /></a>\r\n\r\n&nbsp;\r\n\r\n3.3: PREMIUM SERVICE – 2014 TOTAL PERFORMANCE:\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/PS-PROFITS-2014.png\"><img class=\"aligncenter size-full wp-image-6791\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/PS-PROFITS-2014.png\" alt=\"PS PROFITS 2014\" width=\"529\" height=\"487\" /></a>\r\n\r\n&nbsp;\r\n\r\nNOTES:\r\n<ul>\r\n	<li>If the above return from Forex Trading interests you go to my website landing page at <a href=\"http://www.weeklyfxdrivethru.com\">weeklyfxdrivethru.com</a> and check out the subscription options and special promotions under the tabs “PREMIUM SERVICE” and “PROMOTIONS”</li>\r\n	<li>If you want more data about the performance and my website does not answer your questions, contact me directly and I will supply the data you require.</li>\r\n	<li>THE PREMIUM SERVICE has subscribers with broker accounts of sizes ranging from $2,500 to over $100,000. A profitable trade is a profitable trade. It is all about trading according to the size of your broker account (EFFECTIVE POSITION SIZING) and applying RISK MANAGEMENT principles at all times.</li>\r\n</ul>\r\n<strong> </strong>\r\n<ol start=\"4\">\r\n	<li><strong> PREMIUM SERVICE (GOLD) EXCLUSIVE CONTENT:</strong></li>\r\n</ol>\r\n(This area contains exclusive content for PREMIUM SERVICE (GOLD) subscribers)\r\n\r\n4.1: THE PREMIUM SERVICE – TRADING REVIEW:\r\n(A look back at the past week’s highs and lows from trades undertaken and a look around at other relevant subscriber information):\r\n\r\nAs stated at the beginning of this week’s blog it was a strange week in the sense that I expected more and I felt a little flat at the end of the week, as it did not live up to my expectations.\r\n\r\nI am very happy with the profit/loss ratios now from the trade set-ups, without doubt the flexibility of entering trades with smaller positions allows stop loss flexibility without compromising risk and this I believe helps tremendously with the bottom line.\r\n\r\nWe ended last week with our normal trading account showing just 4 live trades and 6 limit orders ready and waiting. In this coming week, I will be looking to set up a EUR/USD trade. I decided against it on Friday and almost pressed the button on two occasions to trade short in 1.0770’s. Yes, yet another woulda, coulda, shoulda trade but in the end I was reasonably comfortable in the knowledge that in the DIVERGENT FUNDAMENTAL TRADES accounts I already had two short active trades working.\r\n\r\nI didn’t press the button because I was expecting another EUR/USD squeeze, which on that occasion did not happen. I think early next week, as 1.0800 seems to be a real sticking point for the EUR/USD a short as close to that area as possible should be the way to go forward.\r\n\r\nLast week we made good pips off EUR/USD and CHF related trades. I see no reason why this should not continue to be the case moving forward.\r\n\r\nThe profit/loss ratios are improving each week and this pleases me. Just after the SNB peg removal and the days of painful squeezes that followed, I never thought that I would achieve the ratios that I wanted again. Not quite there yet but hopefully at the end of business in November / early December I will be close to 80/20.\r\n\r\nThe PREMIUM SERVICE account is almost at the 2014 performance and it would be great to pass last years performance in year two. Just a few weeks left before I take a break over Christmas.\r\n\r\nI have had a couple of questions about what happens with the open trades through the end of year holidays. Basically, the DRIVE THRU blogs end and recommence next year as published on the website. I will be on twitter through the holidays updating and maybe adding trades. In addition, I need to be around for BOC, ECB and FOMC press conferences.\r\n\r\nThrough this break I will be completing the website speed changes with my ISP and website guru and the final changes to the DRIVE THRU blog will be made for the 2016 version.\r\n\r\nThe suggested changes should help me reduce administrative time, that whilst essential, is down time away from trading and research.\r\n\r\n&nbsp;\r\n\r\n4.2: THE DIVERGENT CB MONETARY POLICY – FUNDAMENTAL TRADES:\r\n\r\nWe are now into week two of these set-ups.\r\n\r\nI am delighted with the level of interest, in particular from my part-time traders, combined with my “Home of single-lot trading” I may have found a niche area.\r\n\r\nWe have 6 DIVERGENT FUNDAMENTAL trades live at this time with another 2 waiting with limit order entries.\r\n\r\nI hope to add more trade set-ups this week and will provide stacked entry trades in advance for some pairs, I know this is what my part-time traders want.\r\n\r\nI know from a more active trader perspective these trades are maybe a little boring as they are alive but parked away from the day-to-day routines, but from a part-time trader’s perspective these offer something.\r\n\r\nThe key is to trade light and be prepared to add when a trade has traction. I have yet to really decide when to remove profits. In the first week it was obvious based on the fall following NFP. In normal trading conditions it should be a little different.\r\n\r\nAs mentioned the feedback is very positive so far and from conversations it appears that most traders are trading fixed amounts per trade either 1 or 2 mini lots, or 5 micro lots per trade. So far only one trader has advised me that she is trading single standard lots.\r\n\r\nWhatever floats your boat, my only concern is that whatever you choose to do you do it with good RISK and MONEY MANAGEMENT principles and inside your TRADING PLAN criteria for POSITION SIZING etc.\r\n\r\n&nbsp;\r\n\r\n4.3: CHANGES TO MY PREFERRED FX BROKER LINEUP:\r\n\r\nMy new broker relationships to be advertised on DRIVE THRU website, Hantec Markets and Vantage FX, will both soon have their banners on the website landing page along with my existing three FX brokers, Blackwell Global, AvaTrade and FX Pro.\r\n\r\nIf anyone would like to open an additional trading account prior to the banners being launched from these new brokers just contact me.\r\n\r\n&nbsp;\r\n\r\n4.4: REVISIONS TO TRADE STYLE DEFINITIONS:\r\n\r\nAs I am now adding what I hope to be longer-term trades based upon “Divergent Central bank Policy” to the PREMIUM SERVICE, I think it is time to re-address the trade styles.\r\n\r\nA couple of you wanted to add a 4<sup>th</sup> trade style to cover these new trades. Instead of doing this I think its easier just to simplify what is there at the moment as follows: -\r\n\r\nFLASH TRADES:\r\nOpportunist trades in LIVE market conditions. These trades are either based off a pullback strategy, a GIMME 10 pips strategy, or, off momentum in a trading pair at the time of entry.\r\nThe goal is to either take 10-30 pips or see a sufficient move to place a protective stop in place to see if a swing trade develops.\r\nSome FLASH TRADES may form part of an overall trading plan with a given currency pair, but the entry could not be made via a LIMIT ORDER.\r\n\r\nRADAR TRADES:\r\nThese a pre-meditated entry trades set from either Fibonacci levels, pivot points or previous support and resistance based off a combination of horizontal or trend line support or resistance.\r\nThe goal is always if possible to swing trade these trades by establishing a position that if market conditions apply allow the trade to gather traction and develop into a longer-term position trade.\r\n\r\nFUNDAMENTAL TRADES:\r\nThese will be trades based off my TRADING PLAN goals for trades in line with my longer-term market views.\r\nTrades in this area will use in addition Fibonacci levels, Pivot points, trend lines and prior support and resistance levels, weekly and monthly ATR’s (Average True Ranges) when setting Stop Loss levels.\r\nThese trades are hopefully of a longer-term nature. They will be initially “single-lot” sized trades due to the wider stop placements that will be applied.\r\n\r\n4.5: MAJOR TRADING PAIRS WITH LONGER-TERM MATCHING TRENDS:\r\n(The 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/2015/11/PS-TRENDING-PAIRS-14112015.png\"><img class=\"aligncenter size-full wp-image-6790\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/PS-TRENDING-PAIRS-14112015.png\" alt=\"PS TRENDING PAIRS 14112015\" width=\"482\" height=\"621\" /></a>\r\n\r\n4.6: THE PREMIUM SERVICE - LIVE TRADES ARE:\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/PS-LIVE-TRADES-14112015.png\"><img class=\"aligncenter size-full wp-image-6789\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/PS-LIVE-TRADES-14112015.png\" alt=\"PS LIVE TRADES 14112015\" width=\"696\" height=\"548\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n4.7: THE PREMIUM SERVICE – LIMIT ORDER TRADES ARE:\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/PS-LIMIT-ORDERS-14112015.png\"><img class=\"aligncenter size-full wp-image-6788\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/PS-LIMIT-ORDERS-14112015.png\" alt=\"PS LIMIT ORDERS 14112015\" width=\"686\" height=\"435\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n4.8: POTENTIAL TRADES - WHAT PAIRS / CHARTS AM I LOOKING AT?\r\n\r\nWith having quite a lot of trades open already and with quite a few limit orders already in position, there are not as many charts as usual to review this week.\r\n\r\n<strong> <a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/AUDCHF-D-14112015.png\"><img class=\"aligncenter size-large wp-image-6799\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/AUDCHF-D-14112015-1024x514.png\" alt=\"AUDCHF D 14112015\" width=\"1024\" height=\"514\" /></a></strong>\r\n\r\n<strong> </strong>\r\n\r\n<strong> <a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/EURGBP-D-14112015.png\"><img class=\"aligncenter size-large wp-image-6800\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/EURGBP-D-14112015-1024x514.png\" alt=\"EURGBP D 14112015\" width=\"1024\" height=\"514\" /></a></strong>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/GBPCHF-D-14112015.png\"><img class=\"aligncenter size-large wp-image-6801\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/GBPCHF-D-14112015-1024x514.png\" alt=\"GBPCHF D 14112015\" width=\"1024\" height=\"514\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/NZDCHF-M-14112015.png\"><img class=\"aligncenter size-large wp-image-6802\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/NZDCHF-M-14112015-1024x514.png\" alt=\"NZDCHF M 14112015\" width=\"1024\" height=\"514\" /></a>\r\n\r\n&nbsp;\r\n<ol start=\"5\">\r\n	<li><strong> MY FINAL THOUGHTS:</strong></li>\r\n</ol>\r\nOVERVIEW OF TRADING TIPS &amp; THOUGHTS FOR THE WEEK AHEAD:\r\n\r\nWe are now entering a period when I hope that we will not stagnate waiting for the ECB and the FOMC to meet and inform.\r\n\r\nI think that institutional traders across all markets will be re-addressing their portfolios and making the required adjustments over the next two weeks or so. This could cause some periods of volatility so we should be ready as usual.\r\n\r\nIn the background the normal flows of economic data will provide the basis of day-to-day direction but these moves that emanate from an economic data release could be trumped by a reaction to breaking news from central banks or a positioning trade from a big player being placed or removed.\r\n\r\nRemember, there is not as much activity in the Forex markets this year in comparison to last year and a lot of the banks have lost big bucks trading FX this year. Therefore, liquidity issues are there for very large trades being dumped into the market.\r\n\r\nAs usual trade within your means, use your TRADE PLAN manage RISK with correct POSITION SIZING and STOP PLACEMENT.\r\n\r\nLongevity in trading is paramount to success. Success in trading is based mainly trading high probability trades with your RISKS MANAGED.\r\n\r\n&nbsp;\r\n\r\nTake care,\r\n\r\nScott Pickering\r\nThe Pip Accumulator\r\n<a href=\"https://weeklyfxdrivethru.com/disclaimer/\">https://weeklyfxdrivethru.com/disclaimer/\r\n</a>BLOG #81','THE CARDS HAVE BEEN DEALT - TIME TO PREPARE FOR 2016','','inherit','closed','closed','','6809-revision-v1','','','2015-11-14 12:07:29','2015-11-14 17:07:29','',6809,'https://weeklyfxdrivethru.com/6809-revision-v1/',0,'revision','',0),(6817,1,'2015-11-14 12:18:30','2015-11-14 17:18:30','<p style=\"text-align: center;\"><strong>THE PREMIUM SERVICE</strong>\r\n<strong>from the</strong>\r\n<strong>WEEKLY FX DRIVE THRU</strong>\r\n<strong>“The Home of Single Lot Trading”</strong></p>\r\n<strong> </strong>\r\n<ol>\r\n	<li><strong> THE FX MARKET PLACE:</strong></li>\r\n</ol>\r\nLOOKING BACKWARDS, FORWARDS &amp; SIDEWAYS (FOR GOOD MEASURE) AT THE FX MARKET:\r\n\r\n1.1: LOOKING BACKWARDS:\r\n\r\nFor me this was a week light on volume of Economic data, full of lots of Central Banker speeches but, in the end so much promise, but, bugger all delivery apart from Draghi on Thursday, in my opinion it flattered to deceive.\r\n\r\nWhat’s that well-known phrase I use from time to time when looking back over a weeks work… yes that’s right sh*t happens.\r\n\r\nAs one of my London (UK) subscribers says “Would you Adam and Eve it?” (Native cockney [someone from London] rhyming slang = believe) ie: Would you believe it?\r\n\r\nThe USD would appear to be in such demand that even though last Friday’s Retail Sales and Producer Price index data releases were poor / bordering awful, the USD was not taken to the woodshed and spanked, instead it rallied off the poor data.\r\n\r\nSo there you have it, it’s not just a buy the dips it just a buy, buy and buy. In my opinion this state of play could persist right the way through to the FED meeting in December. Equity bulls I would say at the moment are pooping in their pants. Is it time to buy shares in Costco the biggest seller of toilet tissue in the world?\r\n\r\nIf you are an equity bull, I think you can put you heads between legs lean forward kiss your own ass (not everyone can do this… FYi, I am one of these), whistle Dixie at the same time and forget about the Santa Claus rally this year.\r\n\r\nDates for your calendar are therefore: -\r\n\r\n3<sup>rd</sup> December 2015: ECB meeting in Frankfurt with press conference.\r\n16<sup>th</sup> December 2015: FOMC meeting with press conference.\r\n\r\nAt these meetings I am expecting: -\r\n\r\nECB:\r\n<ul>\r\n	<li>Confirmation of more Quantitative Easing (QE) to be added to the existing program.</li>\r\n	<li>A formal announcement of an extension of the existing program beyond September 2016.</li>\r\n	<li>Details of an extension to the types of bonds to be purchased.</li>\r\n	<li>A revision to the overnight deposit rate for central banks within the Eurozone.</li>\r\n	<li>Revisions of Eurozone growth targets to lower levels for 2016-2017.</li>\r\n</ul>\r\nFOMC:\r\n<ul>\r\n	<li>Confirmation of an initial rate increase, probably 0.25%.</li>\r\n	<li>Details from the economic projections “the dots” will be amended.</li>\r\n	<li>Information regarding when future rate increases could be introduced.</li>\r\n	<li>A revision of 2016-2017 growth objectives.</li>\r\n</ul>\r\n&nbsp;\r\n\r\nI am not an accountant. However, I strongly expect many revisions to the “books” going forward and the “egg-heads” at the FED and ECB will be number crunching from now right through to the dates above. Yup… them books will be cooked in Frankfurt and Washington as I type this blog.\r\n\r\n&nbsp;\r\n\r\n1.2: LOOKING FORWARD:\r\n\r\nMAJOR FOREX NEWS THIS WEEK THAT INTERESTS ME:\r\n(There are many more news items related to the Forex Market other than the ones listed below. These are the ones that interest me. You can go to <a href=\"http://www.forexfactory.com\">www.forexfactory.com</a> and <a href=\"http://www.tradingeconomics.com\">www.tradingeconomics.com</a> for a more comprehensive lists of all news events that are Forex related).\r\nSUNDAY: NZD – Retail Sales.\r\n\r\nMONDAY: EUR – Words of wisdom from Mario Draghi (ECB).\r\nMONDAY: CAD – Manufacturing Sales.\r\nMONDAY: AUD – Monetary Policy Meeting Minutes.\r\nMONDAY: NZD – Inflation Expectations.\r\n\r\nTUESDAY: GBP – CPi.\r\nTUESDAY: EUR – German ZEW Economic Sentiment.\r\nTUESDAY: USD – Core CPI and CPi Data.\r\nTUESDAY: NZD – Dairy Prices (GDT Price Index).\r\n\r\nWEDNESDAY: USD – FOMC Meeting Minutes.\r\nWEDNESDAY: JPY – BOJ Press Conference and Monetary Policy Statement.\r\n\r\nTHURSDAY: GBP – Retail Sales.\r\n\r\nFRIDAY: EUR – Words of wisdom from Mario Draghi (ECB).\r\nFRIDAY: CAD – Core Retail Sales and Core CPI.\r\n\r\n&nbsp;\r\n\r\nMY THOUGHTS ON THE NEWS ITEMS THIS COMING WEEK:\r\nIn comparison to last week’s economic data, we appear to have much more of a mixed bag.\r\n\r\nAll over the globe, growth is an issue. Deflation although not mentioned is an obvious issue.\r\n\r\nRegular readers will know I love to follow the consumer data. Without consumers buying goods and services what’s the point of manufacturing?\r\n\r\nFrom New Zealand we have Retail sales, Inflation data and Dairy prices. I am so bearish this NZD, despite all the issues surrounding the mis-leading, non- consistent information emanating from Graeme Wheeler (RBNZ Governor). He makes it a challenge to trade the Kiwi across the board, as in my opinion, it is about to be caught so badly with a China hard landing that is on the horizon<strong>.</strong>\r\n\r\nI always look forward to NZD data.\r\n\r\nIn the Eurozone apart from German ZEW, we have some comments due from Mario Draghi. You just never know what he might say. Always bear in mind his “Whatever it takes” was taken literally by the markets even though in his own words it was taken a little out of context. The EUR/USD is bordering on a breakdown and it can happen ahead of the December meetings.\r\n\r\nI would suspect that the ECB wants an orderly drop with the EUR/USD, frankly I couldn’t care less, give me 500 pips and a bounce to sell into. That would be just fine with me. However, I am certain they want a nice casual drop over an extended period. Whatever happens, all Eurozone data and comments will be scrutinized very closely.\r\n\r\nCanadian data fascinates me at the moment, not just because I currently live in Canada, but also because I do not believe most of the data. For the whole of 2014 false employment numbers were supplied to the markets by the government and when I look at some of the current data releases I think they are wish lists rather than the true picture. I am finally long the USD/CAD again and I am looking for a huge breakout higher. I am not long the USD/CAD however, with my longer-term FUNDAMENTAL TRADE set–ups yet and that is a cause of frustration. This Friday we have core retail sales and core CPi.\r\n\r\nI am expecting a rate cut from the BOC before the year-end, the next BOC meeting is on December 2<sup>nd</sup> 2015. Let’s see if it happens.\r\n\r\nWith regards to the USD, expect plenty of media attention and “off the cuff” quotes will be the order of each day this week, in fact, in my opinion the U.S. media frenzy over the FED rate hike will continue through to the December policy meeting and right up to the press conference.\r\n\r\n&nbsp;\r\n\r\nMY KEY SUPPORT &amp; RESISTANCE LEVELS THIS WEEK FOR USD MAJORS<strong>:\r\n</strong>In this section I have as usual kept my charts as minimalist as possible. All readers regardless of level of experience should be able to follow my thoughts from my comments to the levels on the charts with ease.\r\n\r\nAll of my thoughts, ideas and relevant comments are contained on the charts.\r\n\r\nEUR/USD - Weekly Closing Price: 1.0775\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/EURUSD-W-14112015.png\"><img class=\"aligncenter size-large wp-image-6793\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/EURUSD-W-14112015-1024x514.png\" alt=\"EURUSD W 14112015\" width=\"1024\" height=\"514\" /></a>\r\n\r\n&nbsp;\r\n\r\nGBP/USD - Weekly Closing Price: 1.5237\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/GBPUSD-D-14112015.png\"><img class=\"aligncenter size-large wp-image-6794\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/GBPUSD-D-14112015-1024x514.png\" alt=\"GBPUSD D 14112015\" width=\"1024\" height=\"514\" /></a>\r\n\r\n&nbsp;\r\n\r\nAUD/USD - Weekly Closing Price: 0.7130\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/AUDUSD-D-14112015.png\"><img class=\"aligncenter size-large wp-image-6792\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/AUDUSD-D-14112015-1024x514.png\" alt=\"AUDUSD D 14112015\" width=\"1024\" height=\"514\" /></a>\r\n\r\n&nbsp;\r\n\r\nNZD/USD - Weekly Closing Price: 0.6544\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/NZDUSD-D-14112015.png\"><img class=\"aligncenter size-large wp-image-6798\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/NZDUSD-D-14112015-1024x514.png\" alt=\"NZDUSD D 14112015\" width=\"1024\" height=\"514\" /></a>\r\n\r\n&nbsp;\r\n\r\nUSD/CAD - Weekly Closing Price: 1.3328\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/USDCAD-D-14112015.png\"><img class=\"aligncenter size-large wp-image-6797\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/USDCAD-D-14112015-1024x514.png\" alt=\"USDCAD D 14112015\" width=\"1024\" height=\"514\" /></a>\r\n\r\n&nbsp;\r\n\r\nUSD/CHF - Weekly Closing Price: 1.0063\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/USDCHF-D-14112015.png\"><img class=\"aligncenter size-large wp-image-6796\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/USDCHF-D-14112015-1024x514.png\" alt=\"USDCHF D 14112015\" width=\"1024\" height=\"514\" /></a>\r\n\r\n&nbsp;\r\n\r\nUSD/JPY - Weekly Closing Price: 122.65\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/USDJPY-D-14112015.png\"><img class=\"aligncenter size-large wp-image-6795\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/USDJPY-D-14112015-1024x514.png\" alt=\"USDJPY D 14112015\" width=\"1024\" height=\"514\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n1.3: LOOKING SIDEWAYS (FOR GOOD MEASURE):\r\n\r\nOver the past few weeks in this section I have been referring to specific trading issues.\r\n\r\nThis week I want to change topics and mention a new addition to my trade set-ups for subscribers.\r\n\r\nFrom November 1<sup>st</sup> I changed the definition and parameters for my fundamental trades set-ups. In the past, these trades intended to be of a longer-term nature had been more or less commodity cross rate trades, and although successful in 2015, because of market conditions they did not run for as long a time period as I had hoped for many reasons.\r\n\r\nFundamental trades are now based off central bank monetary policy divergence. In addition these are perfect set-ups for part-time traders who are not able to access screens very often, they are also open to all traders and many existing subscribers have embraced to concept of these trades and opened up separate broker accounts to keep these trades separate from core trades.\r\n\r\nAs a part-time Forex trader the markets this year made it virtually impossible to scratch out a reasonable additional income stream, in fact, many part-timers just disappeared.\r\n\r\nTheses trades are intended to be small position sizes with wider stops and wider limits based on divergence. There will be profit taking along the way and stops will be brought in to protect profits. My goal is to have multiple live trades in the same currency pair managing profits and minimizing losses as the core trade progresses.\r\n\r\nI am now going to introduce a daily FUNDAMENTAL TRADE email review, which will include trade amendments (if any) plus fresh set-ups so that part-time traders can find it easier to update trades from one location each day. It will also have its own section inside the PREMIUM SERVICE subscriber version of this blog.\r\n\r\nBelow is the initial excel spreadsheet for this month so far. It is a great start from which to build on.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/FUN-PS-BLOG-PROMO-14112015.png\"><img class=\"aligncenter size-full wp-image-6816\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/FUN-PS-BLOG-PROMO-14112015.png\" alt=\"FUN PS BLOG PROMO 14112015\" width=\"504\" height=\"562\" /></a>\r\n\r\n&nbsp;\r\n\r\nObviously these trade set-ups are available now for PREMIUM SERVICE subscribers.\r\n\r\nIf you are interested and want to know more, email me at the address on the excel spreadsheet.\r\n\r\nWithin the next few days, my website <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a> will have a specific TAB on the landing page referring to part-time fundamental trades and further details including profit projections and cash flow analysis for 2016 will be included.\r\n\r\nThis is a great opportunity for those who are part-time traders to add an additional income stream to their household budget or use it for a specific purchase. It also has the same appeal for full-time traders who may want to keep these trades separate from core trading activities.\r\n\r\n<strong> </strong>\r\n<ol start=\"2\">\r\n	<li><strong> WHAT’S ON MY MIND:</strong></li>\r\n</ol>\r\n<p style=\"text-align: center;\"><strong>THE CARDS HAVE </strong>BEEN<strong> DEALT - TIME TO PREPARE FOR 2016</strong></p>\r\nTo all intents and purposes it looks like the cards from the ECB and FED have been dealt.\r\n\r\nAt the moment though, it’s like a game of poker, I am not quite sure this particular type of poker is called, but you have two cards that no-one else can see and there are three cards face up on the table in front of you that the whole table can see.\r\n\r\nThis is how I view matters at the moment. Both Janet Yellen and Mario Draghi know what they have and how to play their hands but the final two cards will not be revealed until next month.\r\n\r\nFrom a trading perspective where does that leave us?\r\n\r\nI always like to gather as much opinion as possible to verify / confirm my own thoughts, whether they be market contrarian or not, or maybe after a small debate toss my own thoughts into the nearest waste paper bin.\r\n\r\nAs I referenced at the beginning of this blog poor U.S. data resulted in USD strength. I had a brief webinar meeting with my trading peer group at 6.00AM EST Friday morning about the upcoming news event.\r\n\r\nThis small group of four is built up as follows: -\r\n\r\nTwo of us have subscriber based options to our blogs, the next member is a fanatical Elliot-wave specialist (I am still confused) and the last member of our group is an ex bank employee chartist, pattern maker!\r\n\r\nOur focused discussion was based around the EUR/USD:\r\n\r\nTwo of the group wanted to close all trades ahead of the news expecting poor data. The chartist and I said were on the other side of the discussion, primarily based upon the fact that the EUR/USD could not hold above 1.0800 and was pushed back in the previous U.S. and Asian sessions. I already had two live EUR/USD trades set up with stop loss levels moved out from 1.0840 to 1.0900 to cope with a short squeeze. I had taken my FLASH and RADAR trades off the table the previous day and banked $$$. My remaining EUR/USD trades were DIVERGENT FUNDAMENTAL TRADES and on the basis that these were for the longer-term I was going to hold and then add at highs.\r\n\r\nI am not writing this because in the end 1.0800 held, it wasn\'t even tested after the news release, the markets had just decided they wanted to own the USD no matter what.\r\n\r\nI am writing this because I was reacting to the hand I was holding (figuratively speaking) with my open EUR/USD trades. Had I had open trades with EUR/USD as RADAR or FLASH trades my actions would have been different.\r\n\r\nI did at that time, and still do, own USD/CHF longs, NZD/USD shorts and USD/CAD longs. The reaction with commodities (Gold, Oil and Copper) ahead of the news, gave me comfort to hold the NZD and CAD trades open. With regards to the CHF, this currency is breaking out and a fall back was another buying opportunity to add. My primary concern was the EUR/USD only.\r\n\r\nSo basically, what I am saying is that we all play the cards we are dealt with when making choices or decisions in Forex trading.\r\n\r\nRight now we have about 60% of the picture that Yellen and Draghi have, maybe a little more. Looking ahead, I do not think that we will get a glimpse of the cards “in the box” that Yellen and Draghi hold until their individual big day arrives, although I do expect plenty of rumours as to what they are holding.\r\n\r\nFrom my perspective, I want to keep it simple… very simple.\r\n\r\nThe FED are the HAWKS and the ECB are the DOVES.\r\n\r\nThat’s it - end of story.\r\n\r\nIn my opinion the fun starts now after the poor U.S. data.\r\n\r\nTowards the close last Friday afternoon, the EUR/USD drifted up from lows of 1.0715 to 1.0775. I just see this as a selling opportunity early this week. Incidentally, the EUR/USD rallied 60 pips while the inverse relationship USD/CHF fell only 40 pips.\r\n\r\nI say that the fun starts now because the flood gates will once again be opened, the rocks will be lifted up, and from beneath the rocks the creatures that blessed our TV screens and twitter feeds earlier this year will once again be let loose.\r\n\r\nThese numpties who were saying back in January/ February this year that the EUR/USD was going to 0.8000, 0.9000, 0.9500 and parity etc. will be perched on stools behind desks on CNBC and BLOOMBERG spewing it out once again, in repeat format until we can take no more.\r\n\r\nThe fact is, they were wrong earlier this year with their timings, but now they could be right with their target prices albeit for different reasons.\r\n\r\nI have read umpteen bank reports with regards to the EUR/USD target price ranging from 0.8500 to 0.9500, and frankly this is very possible given the fact that we will be entering a period of at least two years if not more of divergent central bank policy. It is the FED versus the rest. Scary as it sounds, it is the FED on one side and the rest (ECB, BOE, BOJ, SNB, BOC, RBA and RBNZ) on the other side.\r\n\r\nRecently as traders it has all been about scalping and day trading. That style of trading has and always will be there and there are many great shorter time period trading specialists. But what about the longer-term perspective traders who like to plan taking a much longer-term view. Retail traders have had their accounts pressured in 2015 as it became more and more difficult to seek out these trades. Yes, there have been big moves but being able to grab them and plan the market did not allow for that this year in comparison to previous years. We have been in a state of limbo due to central bank policies not being clear or promises not being delivered on time. The delays created uncertainty and this uncertainty gave us choppy markets.\r\n\r\nLooking forward, those traders who adapted to day trading to make a living can now add back position trading.\r\n\r\nIt is now time to plan and strategize. I have already started but I will not be at full steam (100%) until early 2016. Once we have the FED’s plans on further rate increases the divergence will escalate and we have a full proposal from which to base from.\r\n\r\nFrom a traders perspective this is just brilliant. There should be both momentum and directional trading most of the time. There will be sideways moves and retracements from time to time but generally speaking trading with the power of a central bank behind you, you cannot ask for more.\r\n\r\nThere are obvious trades based around the USD majors. The USD/JPY being the exception, we need to see how it will react and this will then set the tone for the JPY cross pairs and of course the commodity cross rate pairs as well. Will we return to a simple risk on / risk off trading environment once again?\r\n\r\nWhatever happens, we have time to plan and select our favourite currency pairs to trade.\r\n\r\nWhilst I expect December to offer lots of trading opportunities in the interim period we can research and strategize ahead for next year. The great news is if you plan well in advance and establish core positions from which to add to or base, your strategy <strong>from</strong> 2016 has all the promise of being a great trading opportunity.\r\n\r\nOf course there will be risks but it is how we manage those risks, which creates differentiation away from the other traders.\r\n\r\nIn 2015 many traders left FX trading partly due to the EUR/CHF peg removal, millions of dollars were lost in a few hours. Then for a week or so thereafter, with uncertainty in the air there were numerous quite wicked squeezes. The traders, who left, called FX a “mugs game”, a “gamble”.\r\n\r\nThis is just NOT true.\r\n\r\nForex has always been and always will be about RISK MANAGEMENT and how you manage RISK. As retail traders we cannot move markets our “niche” is to capture bits of the moves created by banks and the large institutional investors. If we over leverage, or, poorly position ourselves with trades that is our problem through lack of knowledge, skill, ability or understanding.\r\n\r\nIn my opinion, there will never be a better time, a better opportunity to manage risk effectively, than next year 2016. We know the players and what cards they have to play with, we will have it all on the table before Christmas this year. You do not have to be a hero with big trades and risk your account.\r\n\r\nAs I have previously stated, this is for the longer-term. We have the opportunity to take profits bit by bit and grow our broker accounts organically with central bank policy behind our core moves.\r\n\r\nStart planning now.\r\n\r\n<strong> </strong>\r\n<ol start=\"3\">\r\n	<li><strong> THE PREMIUM SERVICE:</strong></li>\r\n</ol>\r\n3.1: SUMMARY OF YEAR TO DATE PERFORMANCE - 2015:\r\n<p style=\"text-align: center;\">PREMIUM SERVICE – COST INCOME ANALYSIS (USD):</p>\r\n<p style=\"text-align: center;\">PROFITS FROM TRADE SET-UPS – to November 14th 2015.\r\n(The profit levels below are based on single lot trades only)</p>\r\n<p style=\"text-align: center;\">MICRO LOT TRADER - 610 trades cost to trade = $60.10\r\n<strong>PROFIT</strong> from 610 trades = <strong>$1,111.70</strong></p>\r\n<p style=\"text-align: center;\">MINI LOT TRADER - 610 trades cost to trade = $610.00\r\n<strong>PROFIT</strong> from 610 trades = <strong>$11,117.00</strong></p>\r\n<p style=\"text-align: center;\">STANDARD LOT TRADER - 610 trades cost to trade = $6,100.00\r\n<strong>PROFIT</strong> from 610 trades = <strong>$111,170.00</strong></p>\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n3.2: PREMIUM SERVICE – 2015 PERFORMANCE TO DATE:\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/PS-PROFITS1-14112015.png\"><img class=\"aligncenter size-full wp-image-6781\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/PS-PROFITS1-14112015.png\" alt=\"PS PROFITS1 14112015\" width=\"525\" height=\"419\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/PS-PROFITS2-14112015.png\"><img class=\"aligncenter size-full wp-image-6782\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/PS-PROFITS2-14112015.png\" alt=\"PS PROFITS2 14112015\" width=\"536\" height=\"415\" /></a>\r\n\r\n&nbsp;\r\n\r\n3.3: PREMIUM SERVICE – 2014 TOTAL PERFORMANCE:\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/PS-PROFITS-2014.png\"><img class=\"aligncenter size-full wp-image-6791\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/PS-PROFITS-2014.png\" alt=\"PS PROFITS 2014\" width=\"529\" height=\"487\" /></a>\r\n\r\n&nbsp;\r\n\r\nNOTES:\r\n<ul>\r\n	<li>If the above return from Forex Trading interests you go to my website landing page at <a href=\"http://www.weeklyfxdrivethru.com\">weeklyfxdrivethru.com</a> and check out the subscription options and special promotions under the tabs “PREMIUM SERVICE” and “PROMOTIONS”</li>\r\n	<li>If you want more data about the performance and my website does not answer your questions, contact me directly and I will supply the data you require.</li>\r\n	<li>THE PREMIUM SERVICE has subscribers with broker accounts of sizes ranging from $2,500 to over $100,000. A profitable trade is a profitable trade. It is all about trading according to the size of your broker account (EFFECTIVE POSITION SIZING) and applying RISK MANAGEMENT principles at all times.</li>\r\n</ul>\r\n<strong> </strong>\r\n<ol start=\"4\">\r\n	<li><strong> PREMIUM SERVICE (GOLD) EXCLUSIVE CONTENT:</strong></li>\r\n</ol>\r\n(This area contains exclusive content for PREMIUM SERVICE (GOLD) subscribers)\r\n\r\n4.1: THE PREMIUM SERVICE – TRADING REVIEW:\r\n(A look back at the past week’s highs and lows from trades undertaken and a look around at other relevant subscriber information):\r\n\r\nAs stated at the beginning of this week’s blog it was a strange week in the sense that I expected more and I felt a little flat at the end of the week, as it did not live up to my expectations.\r\n\r\nI am very happy with the profit/loss ratios now from the trade set-ups, without doubt the flexibility of entering trades with smaller positions allows stop loss flexibility without compromising risk and this I believe helps tremendously with the bottom line.\r\n\r\nWe ended last week with our normal trading account showing just 4 live trades and 6 limit orders ready and waiting. In this coming week, I will be looking to set up a EUR/USD trade. I decided against it on Friday and almost pressed the button on two occasions to trade short in 1.0770’s. Yes, yet another woulda, coulda, shoulda trade but in the end I was reasonably comfortable in the knowledge that in the DIVERGENT FUNDAMENTAL TRADES accounts I already had two short active trades working.\r\n\r\nI didn’t press the button because I was expecting another EUR/USD squeeze, which on that occasion did not happen. I think early next week, as 1.0800 seems to be a real sticking point for the EUR/USD a short as close to that area as possible should be the way to go forward.\r\n\r\nLast week we made good pips off EUR/USD and CHF related trades. I see no reason why this should not continue to be the case moving forward.\r\n\r\nThe profit/loss ratios are improving each week and this pleases me. Just after the SNB peg removal and the days of painful squeezes that followed, I never thought that I would achieve the ratios that I wanted again. Not quite there yet but hopefully at the end of business in November / early December I will be close to 80/20.\r\n\r\nThe PREMIUM SERVICE account is almost at the 2014 performance and it would be great to pass last years performance in year two. Just a few weeks left before I take a break over Christmas.\r\n\r\nI have had a couple of questions about what happens with the open trades through the end of year holidays. Basically, the DRIVE THRU blogs end and recommence next year as published on the website. I will be on twitter through the holidays updating and maybe adding trades. In addition, I need to be around for BOC, ECB and FOMC press conferences.\r\n\r\nThrough this break I will be completing the website speed changes with my ISP and website guru and the final changes to the DRIVE THRU blog will be made for the 2016 version.\r\n\r\nThe suggested changes should help me reduce administrative time, that whilst essential, is down time away from trading and research.\r\n\r\n&nbsp;\r\n\r\n4.2: THE DIVERGENT CB MONETARY POLICY – FUNDAMENTAL TRADES:\r\n\r\nWe are now into week two of these set-ups.\r\n\r\nI am delighted with the level of interest, in particular from my part-time traders, combined with my “Home of single-lot trading” I may have found a niche area.\r\n\r\nWe have 6 DIVERGENT FUNDAMENTAL trades live at this time with another 2 waiting with limit order entries.\r\n\r\nI hope to add more trade set-ups this week and will provide stacked entry trades in advance for some pairs, I know this is what my part-time traders want.\r\n\r\nI know from a more active trader perspective these trades are maybe a little boring as they are alive but parked away from the day-to-day routines, but from a part-time trader’s perspective these offer something.\r\n\r\nThe key is to trade light and be prepared to add when a trade has traction. I have yet to really decide when to remove profits. In the first week it was obvious based on the fall following NFP. In normal trading conditions it should be a little different.\r\n\r\nAs mentioned the feedback is very positive so far and from conversations it appears that most traders are trading fixed amounts per trade either 1 or 2 mini lots, or 5 micro lots per trade. So far only one trader has advised me that she is trading single standard lots.\r\n\r\nWhatever floats your boat, my only concern is that whatever you choose to do you do it with good RISK and MONEY MANAGEMENT principles and inside your TRADING PLAN criteria for POSITION SIZING etc.\r\n\r\n&nbsp;\r\n\r\n4.3: CHANGES TO MY PREFERRED FX BROKER LINEUP:\r\n\r\nMy new broker relationships to be advertised on DRIVE THRU website, Hantec Markets and Vantage FX, will both soon have their banners on the website landing page along with my existing three FX brokers, Blackwell Global, AvaTrade and FX Pro.\r\n\r\nIf anyone would like to open an additional trading account prior to the banners being launched from these new brokers just contact me.\r\n\r\n&nbsp;\r\n\r\n4.4: REVISIONS TO TRADE STYLE DEFINITIONS:\r\n\r\nAs I am now adding what I hope to be longer-term trades based upon “Divergent Central bank Policy” to the PREMIUM SERVICE, I think it is time to re-address the trade styles.\r\n\r\nA couple of you wanted to add a 4<sup>th</sup> trade style to cover these new trades. Instead of doing this I think its easier just to simplify what is there at the moment as follows: -\r\n\r\nFLASH TRADES:\r\nOpportunist trades in LIVE market conditions. These trades are either based off a pullback strategy, a GIMME 10 pips strategy, or, off momentum in a trading pair at the time of entry.\r\nThe goal is to either take 10-30 pips or see a sufficient move to place a protective stop in place to see if a swing trade develops.\r\nSome FLASH TRADES may form part of an overall trading plan with a given currency pair, but the entry could not be made via a LIMIT ORDER.\r\n\r\nRADAR TRADES:\r\nThese a pre-meditated entry trades set from either Fibonacci levels, pivot points or previous support and resistance based off a combination of horizontal or trend line support or resistance.\r\nThe goal is always if possible to swing trade these trades by establishing a position that if market conditions apply allow the trade to gather traction and develop into a longer-term position trade.\r\n\r\nFUNDAMENTAL TRADES:\r\nThese will be trades based off my TRADING PLAN goals for trades in line with my longer-term market views.\r\nTrades in this area will use in addition Fibonacci levels, Pivot points, trend lines and prior support and resistance levels, weekly and monthly ATR’s (Average True Ranges) when setting Stop Loss levels.\r\nThese trades are hopefully of a longer-term nature. They will be initially “single-lot” sized trades due to the wider stop placements that will be applied.\r\n\r\n4.5: MAJOR TRADING PAIRS WITH LONGER-TERM MATCHING TRENDS:\r\n(The 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/2015/11/PS-TRENDING-PAIRS-14112015.png\"><img class=\"aligncenter size-full wp-image-6790\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/PS-TRENDING-PAIRS-14112015.png\" alt=\"PS TRENDING PAIRS 14112015\" width=\"482\" height=\"621\" /></a>\r\n\r\n4.6: THE PREMIUM SERVICE - LIVE TRADES ARE:\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/PS-LIVE-TRADES-14112015.png\"><img class=\"aligncenter size-full wp-image-6789\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/PS-LIVE-TRADES-14112015.png\" alt=\"PS LIVE TRADES 14112015\" width=\"696\" height=\"548\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n4.7: THE PREMIUM SERVICE – LIMIT ORDER TRADES ARE:\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/PS-LIMIT-ORDERS-14112015.png\"><img class=\"aligncenter size-full wp-image-6788\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/PS-LIMIT-ORDERS-14112015.png\" alt=\"PS LIMIT ORDERS 14112015\" width=\"686\" height=\"435\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n4.8: POTENTIAL TRADES - WHAT PAIRS / CHARTS AM I LOOKING AT?\r\n\r\nWith having quite a lot of trades open already and with quite a few limit orders already in position, there are not as many charts as usual to review this week.\r\n\r\n<strong> <a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/AUDCHF-D-14112015.png\"><img class=\"aligncenter size-large wp-image-6799\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/AUDCHF-D-14112015-1024x514.png\" alt=\"AUDCHF D 14112015\" width=\"1024\" height=\"514\" /></a></strong>\r\n\r\n<strong> </strong>\r\n\r\n<strong> <a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/EURGBP-D-14112015.png\"><img class=\"aligncenter size-large wp-image-6800\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/EURGBP-D-14112015-1024x514.png\" alt=\"EURGBP D 14112015\" width=\"1024\" height=\"514\" /></a></strong>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/GBPCHF-D-14112015.png\"><img class=\"aligncenter size-large wp-image-6801\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/GBPCHF-D-14112015-1024x514.png\" alt=\"GBPCHF D 14112015\" width=\"1024\" height=\"514\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/NZDCHF-M-14112015.png\"><img class=\"aligncenter size-large wp-image-6802\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/NZDCHF-M-14112015-1024x514.png\" alt=\"NZDCHF M 14112015\" width=\"1024\" height=\"514\" /></a>\r\n\r\n&nbsp;\r\n<ol start=\"5\">\r\n	<li><strong> MY FINAL THOUGHTS:</strong></li>\r\n</ol>\r\nOVERVIEW OF TRADING TIPS &amp; THOUGHTS FOR THE WEEK AHEAD:\r\n\r\nWe are now entering a period when I hope that we will not stagnate waiting for the ECB and the FOMC to meet and inform.\r\n\r\nI think that institutional traders across all markets will be re-addressing their portfolios and making the required adjustments over the next two weeks or so. This could cause some periods of volatility so we should be ready as usual.\r\n\r\nIn the background the normal flows of economic data will provide the basis of day-to-day direction but these moves that emanate from an economic data release could be trumped by a reaction to breaking news from central banks or a positioning trade from a big player being placed or removed.\r\n\r\nRemember, there is not as much activity in the Forex markets this year in comparison to last year and a lot of the banks have lost big bucks trading FX this year. Therefore, liquidity issues are there for very large trades being dumped into the market.\r\n\r\nAs usual trade within your means, use your TRADE PLAN manage RISK with correct POSITION SIZING and STOP PLACEMENT.\r\n\r\nLongevity in trading is paramount to success. Success in trading is based mainly trading high probability trades with your RISKS MANAGED.\r\n\r\n&nbsp;\r\n\r\nTake care,\r\n\r\nScott Pickering\r\nThe Pip Accumulator\r\n<a href=\"https://weeklyfxdrivethru.com/disclaimer/\">https://weeklyfxdrivethru.com/disclaimer/\r\n</a>BLOG #81','THE CARDS HAVE BEEN DEALT - TIME TO PREPARE FOR 2016','','inherit','closed','closed','','6809-revision-v1','','','2015-11-14 12:18:30','2015-11-14 17:18:30','',6809,'https://weeklyfxdrivethru.com/6809-revision-v1/',0,'revision','',0),(6818,1,'2015-11-14 12:54:26','2015-11-14 17:54:26','<p style=\"text-align: center;\"><strong>THE PREMIUM SERVICE</strong>\r\n<strong>from the</strong>\r\n<strong>WEEKLY FX DRIVE THRU</strong>\r\n<strong>“The Home of Single Lot Trading</strong></p>\r\n&nbsp;\r\n<h4 style=\"text-align: center;\"><strong>This blog was written unknowingly, during the time of the terrorist attacks in Paris. </strong></h4>\r\n<h4 style=\"text-align: center;\"><strong>My condolences go out to the victims families of this dreadful event.</strong></h4>\r\n<h4 style=\"text-align: center;\"><strong>I do not really want to talk about how this may affect the market open this week other than say be careful.</strong></h4>\r\n<h4></h4>\r\n<ol>\r\n	<li><strong> THE FX MARKET PLACE:</strong></li>\r\n</ol>\r\nLOOKING BACKWARDS, FORWARDS &amp; SIDEWAYS (FOR GOOD MEASURE) AT THE FX MARKET:\r\n\r\n1.1: LOOKING BACKWARDS:\r\n\r\nFor me this was a week light on volume of Economic data, full of lots of Central Banker speeches but, in the end so much promise, but, bugger all delivery apart from Draghi on Thursday, in my opinion it flattered to deceive.\r\n\r\nWhat’s that well-known phrase I use from time to time when looking back over a weeks work… yes that’s right sh*t happens.\r\n\r\nAs one of my London (UK) subscribers says “Would you Adam and Eve it?” (Native cockney [someone from London] rhyming slang = believe) ie: Would you believe it?\r\n\r\nThe USD would appear to be in such demand that even though last Friday’s Retail Sales and Producer Price index data releases were poor / bordering awful, the USD was not taken to the woodshed and spanked, instead it rallied off the poor data.\r\n\r\nSo there you have it, it’s not just a buy the dips it just a buy, buy and buy. In my opinion this state of play could persist right the way through to the FED meeting in December. Equity bulls I would say at the moment are pooping in their pants. Is it time to buy shares in Costco the biggest seller of toilet tissue in the world?\r\n\r\nIf you are an equity bull, I think you can put you heads between legs lean forward kiss your own ass (not everyone can do this… FYi, I am one of these), whistle Dixie at the same time and forget about the Santa Claus rally this year.\r\n\r\nDates for your calendar are therefore: -\r\n\r\n3<sup>rd</sup> December 2015: ECB meeting in Frankfurt with press conference.\r\n\r\n16<sup>th</sup> December 2015: FOMC meeting with press conference.\r\n\r\nAt these meetings I am expecting: -\r\n\r\nECB:\r\n<ol>\r\n	<li>Confirmation of more Quantitative Easing (QE) to be added to the existing program.</li>\r\n	<li>A formal announcement of an extension of the existing program beyond September 2016.</li>\r\n	<li>Details of an extension to the types of bonds to be purchased.</li>\r\n	<li>A revision to the overnight deposit rate for central banks within the Eurozone.</li>\r\n	<li>Revisions of Eurozone growth targets to lower levels for 2016-2017.</li>\r\n</ol>\r\nFOMC:\r\n<ol>\r\n	<li>Confirmation of an initial rate increase, probably 0.25%.</li>\r\n	<li>Details from the economic projections “the dots” will be amended.</li>\r\n	<li>Information regarding when future rate increases could be introduced.</li>\r\n	<li>A revision of 2016-2017 growth objectives.</li>\r\n</ol>\r\nI am not an accountant. However, I strongly expect many revisions to the “books” going forward and the “egg-heads” at the FED and ECB will be number crunching from now right through to the dates above. Yup… them books will be cooked in Frankfurt and Washington as I type this blog.\r\n\r\n&nbsp;\r\n\r\n1.2: LOOKING FORWARD:\r\n\r\nMAJOR FOREX NEWS THIS WEEK THAT INTERESTS ME:\r\n\r\n(There are many more news items related to the Forex Market other than the ones listed below. These are the ones that interest me. You can go to <a href=\"http://www.forexfactory.com\">www.forexfactory.com</a> and <a href=\"http://www.tradingeconomics.com\">www.tradingeconomics.com</a> for a more comprehensive lists of all news events that are Forex related).\r\nSUNDAY: NZD – Retail Sales.\r\n\r\nMONDAY: EUR – Words of wisdom from Mario Draghi (ECB).\r\nMONDAY: CAD – Manufacturing Sales.\r\nMONDAY: AUD – Monetary Policy Meeting Minutes.\r\nMONDAY: NZD – Inflation Expectations.\r\n\r\nTUESDAY: GBP – CPi.\r\nTUESDAY: EUR – German ZEW Economic Sentiment.\r\nTUESDAY: USD – Core CPI and CPi Data.\r\nTUESDAY: NZD – Dairy Prices (GDT Price Index).\r\n\r\nWEDNESDAY: USD – FOMC Meeting Minutes.\r\nWEDNESDAY: JPY – BOJ Press Conference and Monetary Policy Statement.\r\n\r\nTHURSDAY: GBP – Retail Sales.\r\n\r\nFRIDAY: EUR – Words of wisdom from Mario Draghi (ECB).\r\nFRIDAY: CAD – Core Retail Sales and Core CPI.\r\n\r\n&nbsp;\r\n\r\nMY THOUGHTS ON THE NEWS ITEMS THIS COMING WEEK:\r\n\r\nIn comparison to last week’s economic data, we appear to have much more of a mixed bag.\r\n\r\nAll over the globe, growth is an issue. Deflation although not mentioned is an obvious issue.\r\n\r\nRegular readers will know I love to follow the consumer data. Without consumers buying goods and services what’s the point of manufacturing?\r\n\r\nFrom New Zealand we have Retail sales, Inflation data and Dairy prices. I am so bearish this NZD, despite all the issues surrounding the mis-leading, non- consistent information emanating from Graeme Wheeler (RBNZ Governor). He makes it a challenge to trade the Kiwi across the board, as in my opinion, it is about to be caught so badly with a China hard landing that is on the horizon<strong>.</strong>\r\n\r\nI always look forward to NZD data.\r\n\r\nIn the Eurozone apart from German ZEW, we have some comments due from Mario Draghi. You just never know what he might say. Always bear in mind his “Whatever it takes” was taken literally by the markets even though in his own words it was taken a little out of context. The EUR/USD is bordering on a breakdown and it can happen ahead of the December meetings.\r\n\r\nI would suspect that the ECB wants an orderly drop with the EUR/USD, frankly I couldn’t care less, give me 500 pips and a bounce to sell into. That would be just fine with me. However, I am certain they want a nice casual drop over an extended period. Whatever happens, all Eurozone data and comments will be scrutinized very closely.\r\n\r\nCanadian data fascinates me at the moment, not just because I currently live in Canada, but also because I do not believe most of the data. For the whole of 2014 false employment numbers were supplied to the markets by the government and when I look at some of the current data releases I think they are wish lists rather than the true picture. I am finally long the USD/CAD again and I am looking for a huge breakout higher. I am not long the USD/CAD however, with my longer-term FUNDAMENTAL TRADE set–ups yet and that is a cause of frustration. This Friday we have core retail sales and core CPi.\r\n\r\nI am expecting a rate cut from the BOC before the year-end, the next BOC meeting is on December 2<sup>nd</sup> 2015. Let’s see if it happens.\r\n\r\nWith regards to the USD, expect plenty of media attention and “off the cuff” quotes will be the order of each day this week, in fact, in my opinion the U.S. media frenzy over the FED rate hike will continue through to the December policy meeting and right up to the press conference.\r\n\r\n&nbsp;\r\n\r\nMY KEY SUPPORT &amp; RESISTANCE LEVELS THIS WEEK FOR USD MAJORS<strong>:</strong>\r\n\r\nIn this section I have as usual kept my charts as minimalist as possible. All readers regardless of level of experience should be able to follow my thoughts from my comments to the levels on the charts with ease.\r\n\r\nAll of my thoughts, ideas and relevant comments are contained on the charts.\r\n\r\nEUR/USD - Weekly Closing Price: 1.0775\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/EURUSD-W-14112015.png\"><img class=\"aligncenter size-large wp-image-6793\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/EURUSD-W-14112015-1024x514.png\" alt=\"EURUSD W 14112015\" width=\"1024\" height=\"514\" /></a>\r\n\r\n&nbsp;\r\n\r\nGBP/USD - Weekly Closing Price: 1.5237\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/GBPUSD-D-14112015.png\"><img class=\"aligncenter size-large wp-image-6794\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/GBPUSD-D-14112015-1024x514.png\" alt=\"GBPUSD D 14112015\" width=\"1024\" height=\"514\" /></a>\r\n\r\n&nbsp;\r\n\r\nAUD/USD - Weekly Closing Price: 0.7130\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/AUDUSD-D-14112015.png\"><img class=\"aligncenter size-large wp-image-6792\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/AUDUSD-D-14112015-1024x514.png\" alt=\"AUDUSD D 14112015\" width=\"1024\" height=\"514\" /></a>\r\n\r\n&nbsp;\r\n\r\nNZD/USD - Weekly Closing Price: 0.6544\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/NZDUSD-D-14112015.png\"><img class=\"aligncenter size-large wp-image-6798\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/NZDUSD-D-14112015-1024x514.png\" alt=\"NZDUSD D 14112015\" width=\"1024\" height=\"514\" /></a>\r\n\r\n&nbsp;\r\n\r\nUSD/CAD - Weekly Closing Price: 1.3328\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/USDCAD-D-14112015.png\"><img class=\"aligncenter size-large wp-image-6797\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/USDCAD-D-14112015-1024x514.png\" alt=\"USDCAD D 14112015\" width=\"1024\" height=\"514\" /></a>\r\n\r\n&nbsp;\r\n\r\nUSD/CHF - Weekly Closing Price: 1.0063\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/USDCHF-D-14112015.png\"><img class=\"aligncenter size-large wp-image-6796\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/USDCHF-D-14112015-1024x514.png\" alt=\"USDCHF D 14112015\" width=\"1024\" height=\"514\" /></a>\r\n\r\n&nbsp;\r\n\r\nUSD/JPY - Weekly Closing Price: 122.65\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/USDJPY-D-14112015.png\"><img class=\"aligncenter size-large wp-image-6795\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/USDJPY-D-14112015-1024x514.png\" alt=\"USDJPY D 14112015\" width=\"1024\" height=\"514\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n1.3: LOOKING SIDEWAYS (FOR GOOD MEASURE):\r\n\r\nOver the past few weeks in this section I have been referring to specific trading issues.\r\n\r\nThis week I want to change topics and mention a new addition to my trade set-ups for subscribers.\r\n\r\nFrom November 1<sup>st</sup> I changed the definition and parameters for my fundamental trades set-ups. In the past, these trades intended to be of a longer-term nature had been more or less commodity cross rate trades, and although successful in 2015, because of market conditions they did not run for as long a time period as I had hoped for many reasons.\r\n\r\nFundamental trades are now based off central bank monetary policy divergence. In addition these are perfect set-ups for part-time traders who are not able to access screens very often, they are also open to all traders and many existing subscribers have embraced to concept of these trades and opened up separate broker accounts to keep these trades separate from core trades.\r\n\r\nAs a part-time Forex trader the markets this year made it virtually impossible to scratch out a reasonable additional income stream, in fact, many part-timers just disappeared.\r\n\r\nTheses trades are intended to be small position sizes with wider stops and wider limits based on divergence. There will be profit taking along the way and stops will be brought in to protect profits. My goal is to have multiple live trades in the same currency pair managing profits and minimizing losses as the core trade progresses.\r\n\r\nI am now going to introduce a daily FUNDAMENTAL TRADE email review, which will include trade amendments (if any) plus fresh set-ups so that part-time traders can find it easier to update trades from one location each day. It will also have its own section inside the PREMIUM SERVICE subscriber version of this blog.\r\n\r\nBelow is the initial excel spreadsheet for this month so far. It is a great start from which to build on.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/FUN-PS-BLOG-PROMO-14112015.png\"><img class=\"aligncenter size-full wp-image-6816\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/FUN-PS-BLOG-PROMO-14112015.png\" alt=\"FUN PS BLOG PROMO 14112015\" width=\"504\" height=\"562\" /></a>\r\n\r\n&nbsp;\r\n\r\nObviously these trade set-ups are available now for PREMIUM SERVICE subscribers.\r\n\r\nIf you are interested and want to know more, email me at the address on the excel spreadsheet.\r\n\r\nWithin the next few days, my website <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a> will have a specific TAB on the landing page referring to part-time fundamental trades and further details including profit projections and cash flow analysis for 2016 will be included.\r\n\r\nThis is a great opportunity for those who are part-time traders to add an additional income stream to their household budget or use it for a specific purchase. It also has the same appeal for full-time traders who may want to keep these trades separate from core trading activities.\r\n\r\n&nbsp;\r\n\r\n<strong> </strong>\r\n<ol start=\"2\">\r\n	<li><strong> WHAT’S ON MY MIND:</strong></li>\r\n</ol>\r\n<p style=\"text-align: center;\"><strong>THE CARDS HAVE </strong>BEEN<strong> DEALT - TIME TO PREPARE FOR 2016</strong></p>\r\nTo all intents and purposes it looks like the cards from the ECB and FED have been dealt.\r\n\r\nAt the moment though, it’s like a game of poker, I am not quite sure this particular type of poker is called, but you have two cards that no-one else can see and there are three cards face up on the table in front of you that the whole table can see.\r\n\r\nThis is how I view matters at the moment. Both Janet Yellen and Mario Draghi know what they have and how to play their hands but the final two cards will not be revealed until next month.\r\n\r\nFrom a trading perspective where does that leave us?\r\n\r\nI always like to gather as much opinion as possible to verify / confirm my own thoughts, whether they be market contrarian or not, or maybe after a small debate toss my own thoughts into the nearest waste paper bin.\r\n\r\nAs I referenced at the beginning of this blog poor U.S. data resulted in USD strength. I had a brief webinar meeting with my trading peer group at 6.00AM EST Friday morning about the upcoming news event.\r\n\r\nThis small group of four is built up as follows: -\r\n\r\nTwo of us have subscriber based options to our blogs, the next member is a fanatical Elliot-wave specialist (I am still confused) and the last member of our group is an ex bank employee chartist, pattern maker!\r\n\r\nOur focused discussion was based around the EUR/USD:\r\n\r\nTwo of the group wanted to close all trades ahead of the news expecting poor data. The chartist and I said were on the other side of the discussion, primarily based upon the fact that the EUR/USD could not hold above 1.0800 and was pushed back in the previous U.S. and Asian sessions. I already had two live EUR/USD trades set up with stop loss levels moved out from 1.0840 to 1.0900 to cope with a short squeeze. I had taken my FLASH and RADAR trades off the table the previous day and banked $$$. My remaining EUR/USD trades were DIVERGENT FUNDAMENTAL TRADES and on the basis that these were for the longer-term I was going to hold and then add at highs.\r\n\r\nI am not writing this because in the end 1.0800 held, it wasn\'t even tested after the news release, the markets had just decided they wanted to own the USD no matter what.\r\n\r\nI am writing this because I was reacting to the hand I was holding (figuratively speaking) with my open EUR/USD trades. Had I had open trades with EUR/USD as RADAR or FLASH trades my actions would have been different.\r\n\r\nI did at that time, and still do, own USD/CHF longs, NZD/USD shorts and USD/CAD longs. The reaction with commodities (Gold, Oil and Copper) ahead of the news, gave me comfort to hold the NZD and CAD trades open. With regards to the CHF, this currency is breaking out and a fall back was another buying opportunity to add. My primary concern was the EUR/USD only.\r\n\r\nSo basically, what I am saying is that we all play the cards we are dealt with when making choices or decisions in Forex trading.\r\n\r\nRight now we have about 60% of the picture that Yellen and Draghi have, maybe a little more. Looking ahead, I do not think that we will get a glimpse of the cards “in the box” that Yellen and Draghi hold until their individual big day arrives, although I do expect plenty of rumours as to what they are holding.\r\n\r\nFrom my perspective, I want to keep it simple… very simple.\r\n\r\nThe FED are the HAWKS and the ECB are the DOVES.\r\n\r\nThat’s it - end of story.\r\n\r\nIn my opinion the fun starts now after the poor U.S. data.\r\n\r\nTowards the close last Friday afternoon, the EUR/USD drifted up from lows of 1.0715 to 1.0775. I just see this as a selling opportunity early this week. Incidentally, the EUR/USD rallied 60 pips while the inverse relationship USD/CHF fell only 40 pips.\r\n\r\nI say that the fun starts now because the flood gates will once again be opened, the rocks will be lifted up, and from beneath the rocks the creatures that blessed our TV screens and twitter feeds earlier this year will once again be let loose.\r\n\r\nThese numpties who were saying back in January/ February this year that the EUR/USD was going to 0.8000, 0.9000, 0.9500 and parity etc. will be perched on stools behind desks on CNBC and BLOOMBERG spewing it out once again, in repeat format until we can take no more.\r\n\r\nThe fact is, they were wrong earlier this year with their timings, but now they could be right with their target prices albeit for different reasons.\r\n\r\nI have read umpteen bank reports with regards to the EUR/USD target price ranging from 0.8500 to 0.9500, and frankly this is very possible given the fact that we will be entering a period of at least two years if not more of divergent central bank policy. It is the FED versus the rest. Scary as it sounds, it is the FED on one side and the rest (ECB, BOE, BOJ, SNB, BOC, RBA and RBNZ) on the other side.\r\n\r\nRecently as traders it has all been about scalping and day trading. That style of trading has and always will be there and there are many great shorter time period trading specialists. But what about the longer-term perspective traders who like to plan taking a much longer-term view. Retail traders have had their accounts pressured in 2015 as it became more and more difficult to seek out these trades. Yes, there have been big moves but being able to grab them and plan the market did not allow for that this year in comparison to previous years. We have been in a state of limbo due to central bank policies not being clear or promises not being delivered on time. The delays created uncertainty and this uncertainty gave us choppy markets.\r\n\r\nLooking forward, those traders who adapted to day trading to make a living can now add back position trading.\r\n\r\nIt is now time to plan and strategize. I have already started but I will not be at full steam (100%) until early 2016. Once we have the FED’s plans on further rate increases the divergence will escalate and we have a full proposal from which to base from.\r\n\r\nFrom a traders perspective this is just brilliant. There should be both momentum and directional trading most of the time. There will be sideways moves and retracements from time to time but generally speaking trading with the power of a central bank behind you, you cannot ask for more.\r\n\r\nThere are obvious trades based around the USD majors. The USD/JPY being the exception, we need to see how it will react and this will then set the tone for the JPY cross pairs and of course the commodity cross rate pairs as well. Will we return to a simple risk on / risk off trading environment once again?\r\n\r\nWhatever happens, we have time to plan and select our favourite currency pairs to trade.\r\n\r\nWhilst I expect December to offer lots of trading opportunities in the interim period we can research and strategize ahead for next year. The great news is if you plan well in advance and establish core positions from which to add to or base, your strategy <strong>from</strong> 2016 has all the promise of being a great trading opportunity.\r\n\r\nOf course there will be risks but it is how we manage those risks, which creates differentiation away from the other traders.\r\n\r\nIn 2015 many traders left FX trading partly due to the EUR/CHF peg removal, millions of dollars were lost in a few hours. Then for a week or so thereafter, with uncertainty in the air there were numerous quite wicked squeezes. The traders, who left, called FX a “mugs game”, a “gamble”.\r\n\r\nThis is just NOT true.\r\n\r\nForex has always been and always will be about RISK MANAGEMENT and how you manage RISK. As retail traders we cannot move markets our “niche” is to capture bits of the moves created by banks and the large institutional investors. If we over leverage, or, poorly position ourselves with trades that is our problem through lack of knowledge, skill, ability or understanding.\r\n\r\nIn my opinion, there will never be a better time, a better opportunity to manage risk effectively, than next year 2016. We know the players and what cards they have to play with, we will have it all on the table before Christmas this year. You do not have to be a hero with big trades and risk your account.\r\n\r\nAs I have previously stated, this is for the longer-term. We have the opportunity to take profits bit by bit and grow our broker accounts organically with central bank policy behind our core moves.\r\n\r\nStart planning now.\r\n\r\n&nbsp;\r\n\r\n<strong> </strong><strong> </strong>\r\n<ol start=\"3\">\r\n	<li><strong> THE PREMIUM SERVICE:</strong></li>\r\n</ol>\r\n3.1: SUMMARY OF YEAR TO DATE PERFORMANCE - 2015:\r\n<p style=\"text-align: center;\">PREMIUM SERVICE – COST INCOME ANALYSIS (USD):</p>\r\n<p style=\"text-align: center;\">PROFITS FROM TRADE SET-UPS – to November 14th 2015.\r\n(The profit levels below are based on single lot trades only)</p>\r\n<p style=\"text-align: center;\">MICRO LOT TRADER - 610 trades cost to trade = $60.10\r\n<strong>PROFIT</strong> from 610 trades = <strong>$1,111.70</strong></p>\r\n<p style=\"text-align: center;\">MINI LOT TRADER - 610 trades cost to trade = $610.00\r\n<strong>PROFIT</strong> from 610 trades = <strong>$11,117.00</strong></p>\r\n<p style=\"text-align: center;\">STANDARD LOT TRADER - 610 trades cost to trade = $6,100.00\r\n<strong>PROFIT</strong> from 610 trades = <strong>$111,170.00</strong></p>\r\n<p style=\"text-align: center;\"></p>\r\n3.2: PREMIUM SERVICE – 2015 PERFORMANCE TO DATE:\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/PS-PROFITS1-14112015.png\"><img class=\"aligncenter size-full wp-image-6781\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/PS-PROFITS1-14112015.png\" alt=\"PS PROFITS1 14112015\" width=\"525\" height=\"419\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/PS-PROFITS2-14112015.png\"><img class=\"aligncenter size-full wp-image-6782\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/PS-PROFITS2-14112015.png\" alt=\"PS PROFITS2 14112015\" width=\"536\" height=\"415\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n3.3: PREMIUM SERVICE – 2014 TOTAL PERFORMANCE:\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/PS-PROFITS-2014.png\"><img class=\"aligncenter size-full wp-image-6791\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/PS-PROFITS-2014.png\" alt=\"PS PROFITS 2014\" width=\"529\" height=\"487\" /></a>\r\n\r\nNOTES:\r\n<ul>\r\n	<li>If the above return from Forex Trading interests you go to my website landing page at <a href=\"http://www.weeklyfxdrivethru.com\">weeklyfxdrivethru.com</a> and check out the subscription options and special promotions under the tabs “PREMIUM SERVICE” and “PROMOTIONS”</li>\r\n	<li>If you want more data about the performance and my website does not answer your questions, contact me directly and I will supply the data you require.</li>\r\n	<li>THE PREMIUM SERVICE has subscribers with broker accounts of sizes ranging from $2,500 to over $100,000. A profitable trade is a profitable trade. It is all about trading according to the size of your broker account (EFFECTIVE POSITION SIZING) and applying RISK MANAGEMENT principles at all times.</li>\r\n</ul>\r\n<strong> </strong>\r\n\r\n<strong> </strong>\r\n<ol start=\"4\">\r\n	<li><strong> PREMIUM SERVICE (GOLD) EXCLUSIVE CONTENT:</strong></li>\r\n</ol>\r\n(This area contains exclusive content for PREMIUM SERVICE (GOLD) subscribers)\r\n\r\n4.1: THE PREMIUM SERVICE – TRADING REVIEW:\r\n\r\n4.2: THE DIVERGENT CB MONETARY POLICY – FUNDAMENTAL TRADES:\r\n\r\n4.3: CHANGES TO MY PREFERRED FX BROKER LINEUP:\r\n\r\n4.4: REVISIONS TO TRADE STYLE DEFINITIONS:\r\n\r\n4.5: MAJOR TRADING PAIRS WITH LONGER-TERM MATCHING TRENDS:\r\n\r\n4.6: THE PREMIUM SERVICE - LIVE TRADES ARE:\r\n\r\n4.7: THE PREMIUM SERVICE – LIMIT ORDER TRADES ARE:\r\n\r\n4.8: POTENTIAL TRADES - WHAT PAIRS / CHARTS AM I LOOKING AT?\r\n\r\n<strong> </strong>\r\n\r\n&nbsp;\r\n<ol start=\"5\">\r\n	<li><strong> MY FINAL THOUGHTS:</strong></li>\r\n</ol>\r\nOVERVIEW OF TRADING TIPS &amp; THOUGHTS FOR THE WEEK AHEAD:\r\n\r\nWe are now entering a period when I hope that we will not stagnate waiting for the ECB and the FOMC to meet and inform.\r\n\r\nI think that institutional traders across all markets will be re-addressing their portfolios and making the required adjustments over the next two weeks or so. This could cause some periods of volatility so we should be ready as usual.\r\n\r\nIn the background the normal flows of economic data will provide the basis of day-to-day direction but these moves that emanate from an economic data release could be trumped by a reaction to breaking news from central banks or a positioning trade from a big player being placed or removed.\r\n\r\nRemember, there is not as much activity in the Forex markets this year in comparison to last year and a lot of the banks have lost big bucks trading FX this year. Therefore, liquidity issues are there for very large trades being dumped into the market.\r\n\r\nAs usual trade within your means, use your TRADE PLAN manage RISK with correct POSITION SIZING and STOP PLACEMENT.\r\n\r\nLongevity in trading is paramount to success. Success in trading is based mainly trading high probability trades with your RISKS MANAGED.\r\n\r\nTake care,\r\n\r\nScott Pickering\r\nThe Pip Accumulator\r\n<a href=\"https://weeklyfxdrivethru.com/disclaimer/\">https://weeklyfxdrivethru.com/disclaimer/\r\n</a>BLOG #177','THE CARDS HAVE BEEN DEALT - TIME TO PREPARE FOR 2016','','publish','open','closed','','the-cards-have-been-dealt-time-to-prepare-for-2016','','','2015-11-14 12:54:26','2015-11-14 17:54:26','',0,'https://weeklyfxdrivethru.com/?p=6818',0,'post','',0),(6819,1,'2015-11-14 12:54:26','2015-11-14 17:54:26','<p style=\"text-align: center;\"><strong>THE PREMIUM SERVICE</strong>\r\n<strong>from the</strong>\r\n<strong>WEEKLY FX DRIVE THRU</strong>\r\n<strong>“The Home of Single Lot Trading</strong></p>\r\n&nbsp;\r\n<h4 style=\"text-align: center;\"><strong>This blog was written unknowingly, during the time of the terrorist attacks in Paris. </strong></h4>\r\n<h4 style=\"text-align: center;\"><strong>My condolences go out to the victims families of this dreadful event.</strong></h4>\r\n<h4 style=\"text-align: center;\"><strong>I do not really want to talk about how this may affect the market open this week other than say be careful.</strong></h4>\r\n<h4></h4>\r\n<ol>\r\n	<li><strong> THE FX MARKET PLACE:</strong></li>\r\n</ol>\r\nLOOKING BACKWARDS, FORWARDS &amp; SIDEWAYS (FOR GOOD MEASURE) AT THE FX MARKET:\r\n\r\n1.1: LOOKING BACKWARDS:\r\n\r\nFor me this was a week light on volume of Economic data, full of lots of Central Banker speeches but, in the end so much promise, but, bugger all delivery apart from Draghi on Thursday, in my opinion it flattered to deceive.\r\n\r\nWhat’s that well-known phrase I use from time to time when looking back over a weeks work… yes that’s right sh*t happens.\r\n\r\nAs one of my London (UK) subscribers says “Would you Adam and Eve it?” (Native cockney [someone from London] rhyming slang = believe) ie: Would you believe it?\r\n\r\nThe USD would appear to be in such demand that even though last Friday’s Retail Sales and Producer Price index data releases were poor / bordering awful, the USD was not taken to the woodshed and spanked, instead it rallied off the poor data.\r\n\r\nSo there you have it, it’s not just a buy the dips it just a buy, buy and buy. In my opinion this state of play could persist right the way through to the FED meeting in December. Equity bulls I would say at the moment are pooping in their pants. Is it time to buy shares in Costco the biggest seller of toilet tissue in the world?\r\n\r\nIf you are an equity bull, I think you can put you heads between legs lean forward kiss your own ass (not everyone can do this… FYi, I am one of these), whistle Dixie at the same time and forget about the Santa Claus rally this year.\r\n\r\nDates for your calendar are therefore: -\r\n\r\n3<sup>rd</sup> December 2015: ECB meeting in Frankfurt with press conference.\r\n\r\n16<sup>th</sup> December 2015: FOMC meeting with press conference.\r\n\r\nAt these meetings I am expecting: -\r\n\r\nECB:\r\n<ol>\r\n	<li>Confirmation of more Quantitative Easing (QE) to be added to the existing program.</li>\r\n	<li>A formal announcement of an extension of the existing program beyond September 2016.</li>\r\n	<li>Details of an extension to the types of bonds to be purchased.</li>\r\n	<li>A revision to the overnight deposit rate for central banks within the Eurozone.</li>\r\n	<li>Revisions of Eurozone growth targets to lower levels for 2016-2017.</li>\r\n</ol>\r\nFOMC:\r\n<ol>\r\n	<li>Confirmation of an initial rate increase, probably 0.25%.</li>\r\n	<li>Details from the economic projections “the dots” will be amended.</li>\r\n	<li>Information regarding when future rate increases could be introduced.</li>\r\n	<li>A revision of 2016-2017 growth objectives.</li>\r\n</ol>\r\nI am not an accountant. However, I strongly expect many revisions to the “books” going forward and the “egg-heads” at the FED and ECB will be number crunching from now right through to the dates above. Yup… them books will be cooked in Frankfurt and Washington as I type this blog.\r\n\r\n&nbsp;\r\n\r\n1.2: LOOKING FORWARD:\r\n\r\nMAJOR FOREX NEWS THIS WEEK THAT INTERESTS ME:\r\n\r\n(There are many more news items related to the Forex Market other than the ones listed below. These are the ones that interest me. You can go to <a href=\"http://www.forexfactory.com\">www.forexfactory.com</a> and <a href=\"http://www.tradingeconomics.com\">www.tradingeconomics.com</a> for a more comprehensive lists of all news events that are Forex related).\r\nSUNDAY: NZD – Retail Sales.\r\n\r\nMONDAY: EUR – Words of wisdom from Mario Draghi (ECB).\r\nMONDAY: CAD – Manufacturing Sales.\r\nMONDAY: AUD – Monetary Policy Meeting Minutes.\r\nMONDAY: NZD – Inflation Expectations.\r\n\r\nTUESDAY: GBP – CPi.\r\nTUESDAY: EUR – German ZEW Economic Sentiment.\r\nTUESDAY: USD – Core CPI and CPi Data.\r\nTUESDAY: NZD – Dairy Prices (GDT Price Index).\r\n\r\nWEDNESDAY: USD – FOMC Meeting Minutes.\r\nWEDNESDAY: JPY – BOJ Press Conference and Monetary Policy Statement.\r\n\r\nTHURSDAY: GBP – Retail Sales.\r\n\r\nFRIDAY: EUR – Words of wisdom from Mario Draghi (ECB).\r\nFRIDAY: CAD – Core Retail Sales and Core CPI.\r\n\r\n&nbsp;\r\n\r\nMY THOUGHTS ON THE NEWS ITEMS THIS COMING WEEK:\r\n\r\nIn comparison to last week’s economic data, we appear to have much more of a mixed bag.\r\n\r\nAll over the globe, growth is an issue. Deflation although not mentioned is an obvious issue.\r\n\r\nRegular readers will know I love to follow the consumer data. Without consumers buying goods and services what’s the point of manufacturing?\r\n\r\nFrom New Zealand we have Retail sales, Inflation data and Dairy prices. I am so bearish this NZD, despite all the issues surrounding the mis-leading, non- consistent information emanating from Graeme Wheeler (RBNZ Governor). He makes it a challenge to trade the Kiwi across the board, as in my opinion, it is about to be caught so badly with a China hard landing that is on the horizon<strong>.</strong>\r\n\r\nI always look forward to NZD data.\r\n\r\nIn the Eurozone apart from German ZEW, we have some comments due from Mario Draghi. You just never know what he might say. Always bear in mind his “Whatever it takes” was taken literally by the markets even though in his own words it was taken a little out of context. The EUR/USD is bordering on a breakdown and it can happen ahead of the December meetings.\r\n\r\nI would suspect that the ECB wants an orderly drop with the EUR/USD, frankly I couldn’t care less, give me 500 pips and a bounce to sell into. That would be just fine with me. However, I am certain they want a nice casual drop over an extended period. Whatever happens, all Eurozone data and comments will be scrutinized very closely.\r\n\r\nCanadian data fascinates me at the moment, not just because I currently live in Canada, but also because I do not believe most of the data. For the whole of 2014 false employment numbers were supplied to the markets by the government and when I look at some of the current data releases I think they are wish lists rather than the true picture. I am finally long the USD/CAD again and I am looking for a huge breakout higher. I am not long the USD/CAD however, with my longer-term FUNDAMENTAL TRADE set–ups yet and that is a cause of frustration. This Friday we have core retail sales and core CPi.\r\n\r\nI am expecting a rate cut from the BOC before the year-end, the next BOC meeting is on December 2<sup>nd</sup> 2015. Let’s see if it happens.\r\n\r\nWith regards to the USD, expect plenty of media attention and “off the cuff” quotes will be the order of each day this week, in fact, in my opinion the U.S. media frenzy over the FED rate hike will continue through to the December policy meeting and right up to the press conference.\r\n\r\n&nbsp;\r\n\r\nMY KEY SUPPORT &amp; RESISTANCE LEVELS THIS WEEK FOR USD MAJORS<strong>:</strong>\r\n\r\nIn this section I have as usual kept my charts as minimalist as possible. All readers regardless of level of experience should be able to follow my thoughts from my comments to the levels on the charts with ease.\r\n\r\nAll of my thoughts, ideas and relevant comments are contained on the charts.\r\n\r\nEUR/USD - Weekly Closing Price: 1.0775\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/EURUSD-W-14112015.png\"><img class=\"aligncenter size-large wp-image-6793\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/EURUSD-W-14112015-1024x514.png\" alt=\"EURUSD W 14112015\" width=\"1024\" height=\"514\" /></a>\r\n\r\n&nbsp;\r\n\r\nGBP/USD - Weekly Closing Price: 1.5237\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/GBPUSD-D-14112015.png\"><img class=\"aligncenter size-large wp-image-6794\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/GBPUSD-D-14112015-1024x514.png\" alt=\"GBPUSD D 14112015\" width=\"1024\" height=\"514\" /></a>\r\n\r\n&nbsp;\r\n\r\nAUD/USD - Weekly Closing Price: 0.7130\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/AUDUSD-D-14112015.png\"><img class=\"aligncenter size-large wp-image-6792\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/AUDUSD-D-14112015-1024x514.png\" alt=\"AUDUSD D 14112015\" width=\"1024\" height=\"514\" /></a>\r\n\r\n&nbsp;\r\n\r\nNZD/USD - Weekly Closing Price: 0.6544\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/NZDUSD-D-14112015.png\"><img class=\"aligncenter size-large wp-image-6798\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/NZDUSD-D-14112015-1024x514.png\" alt=\"NZDUSD D 14112015\" width=\"1024\" height=\"514\" /></a>\r\n\r\n&nbsp;\r\n\r\nUSD/CAD - Weekly Closing Price: 1.3328\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/USDCAD-D-14112015.png\"><img class=\"aligncenter size-large wp-image-6797\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/USDCAD-D-14112015-1024x514.png\" alt=\"USDCAD D 14112015\" width=\"1024\" height=\"514\" /></a>\r\n\r\n&nbsp;\r\n\r\nUSD/CHF - Weekly Closing Price: 1.0063\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/USDCHF-D-14112015.png\"><img class=\"aligncenter size-large wp-image-6796\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/USDCHF-D-14112015-1024x514.png\" alt=\"USDCHF D 14112015\" width=\"1024\" height=\"514\" /></a>\r\n\r\n&nbsp;\r\n\r\nUSD/JPY - Weekly Closing Price: 122.65\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/USDJPY-D-14112015.png\"><img class=\"aligncenter size-large wp-image-6795\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/USDJPY-D-14112015-1024x514.png\" alt=\"USDJPY D 14112015\" width=\"1024\" height=\"514\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n1.3: LOOKING SIDEWAYS (FOR GOOD MEASURE):\r\n\r\nOver the past few weeks in this section I have been referring to specific trading issues.\r\n\r\nThis week I want to change topics and mention a new addition to my trade set-ups for subscribers.\r\n\r\nFrom November 1<sup>st</sup> I changed the definition and parameters for my fundamental trades set-ups. In the past, these trades intended to be of a longer-term nature had been more or less commodity cross rate trades, and although successful in 2015, because of market conditions they did not run for as long a time period as I had hoped for many reasons.\r\n\r\nFundamental trades are now based off central bank monetary policy divergence. In addition these are perfect set-ups for part-time traders who are not able to access screens very often, they are also open to all traders and many existing subscribers have embraced to concept of these trades and opened up separate broker accounts to keep these trades separate from core trades.\r\n\r\nAs a part-time Forex trader the markets this year made it virtually impossible to scratch out a reasonable additional income stream, in fact, many part-timers just disappeared.\r\n\r\nTheses trades are intended to be small position sizes with wider stops and wider limits based on divergence. There will be profit taking along the way and stops will be brought in to protect profits. My goal is to have multiple live trades in the same currency pair managing profits and minimizing losses as the core trade progresses.\r\n\r\nI am now going to introduce a daily FUNDAMENTAL TRADE email review, which will include trade amendments (if any) plus fresh set-ups so that part-time traders can find it easier to update trades from one location each day. It will also have its own section inside the PREMIUM SERVICE subscriber version of this blog.\r\n\r\nBelow is the initial excel spreadsheet for this month so far. It is a great start from which to build on.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/FUN-PS-BLOG-PROMO-14112015.png\"><img class=\"aligncenter size-full wp-image-6816\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/FUN-PS-BLOG-PROMO-14112015.png\" alt=\"FUN PS BLOG PROMO 14112015\" width=\"504\" height=\"562\" /></a>\r\n\r\n&nbsp;\r\n\r\nObviously these trade set-ups are available now for PREMIUM SERVICE subscribers.\r\n\r\nIf you are interested and want to know more, email me at the address on the excel spreadsheet.\r\n\r\nWithin the next few days, my website <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a> will have a specific TAB on the landing page referring to part-time fundamental trades and further details including profit projections and cash flow analysis for 2016 will be included.\r\n\r\nThis is a great opportunity for those who are part-time traders to add an additional income stream to their household budget or use it for a specific purchase. It also has the same appeal for full-time traders who may want to keep these trades separate from core trading activities.\r\n\r\n&nbsp;\r\n\r\n<strong> </strong>\r\n<ol start=\"2\">\r\n	<li><strong> WHAT’S ON MY MIND:</strong></li>\r\n</ol>\r\n<p style=\"text-align: center;\"><strong>THE CARDS HAVE </strong>BEEN<strong> DEALT - TIME TO PREPARE FOR 2016</strong></p>\r\nTo all intents and purposes it looks like the cards from the ECB and FED have been dealt.\r\n\r\nAt the moment though, it’s like a game of poker, I am not quite sure this particular type of poker is called, but you have two cards that no-one else can see and there are three cards face up on the table in front of you that the whole table can see.\r\n\r\nThis is how I view matters at the moment. Both Janet Yellen and Mario Draghi know what they have and how to play their hands but the final two cards will not be revealed until next month.\r\n\r\nFrom a trading perspective where does that leave us?\r\n\r\nI always like to gather as much opinion as possible to verify / confirm my own thoughts, whether they be market contrarian or not, or maybe after a small debate toss my own thoughts into the nearest waste paper bin.\r\n\r\nAs I referenced at the beginning of this blog poor U.S. data resulted in USD strength. I had a brief webinar meeting with my trading peer group at 6.00AM EST Friday morning about the upcoming news event.\r\n\r\nThis small group of four is built up as follows: -\r\n\r\nTwo of us have subscriber based options to our blogs, the next member is a fanatical Elliot-wave specialist (I am still confused) and the last member of our group is an ex bank employee chartist, pattern maker!\r\n\r\nOur focused discussion was based around the EUR/USD:\r\n\r\nTwo of the group wanted to close all trades ahead of the news expecting poor data. The chartist and I said were on the other side of the discussion, primarily based upon the fact that the EUR/USD could not hold above 1.0800 and was pushed back in the previous U.S. and Asian sessions. I already had two live EUR/USD trades set up with stop loss levels moved out from 1.0840 to 1.0900 to cope with a short squeeze. I had taken my FLASH and RADAR trades off the table the previous day and banked $$$. My remaining EUR/USD trades were DIVERGENT FUNDAMENTAL TRADES and on the basis that these were for the longer-term I was going to hold and then add at highs.\r\n\r\nI am not writing this because in the end 1.0800 held, it wasn\'t even tested after the news release, the markets had just decided they wanted to own the USD no matter what.\r\n\r\nI am writing this because I was reacting to the hand I was holding (figuratively speaking) with my open EUR/USD trades. Had I had open trades with EUR/USD as RADAR or FLASH trades my actions would have been different.\r\n\r\nI did at that time, and still do, own USD/CHF longs, NZD/USD shorts and USD/CAD longs. The reaction with commodities (Gold, Oil and Copper) ahead of the news, gave me comfort to hold the NZD and CAD trades open. With regards to the CHF, this currency is breaking out and a fall back was another buying opportunity to add. My primary concern was the EUR/USD only.\r\n\r\nSo basically, what I am saying is that we all play the cards we are dealt with when making choices or decisions in Forex trading.\r\n\r\nRight now we have about 60% of the picture that Yellen and Draghi have, maybe a little more. Looking ahead, I do not think that we will get a glimpse of the cards “in the box” that Yellen and Draghi hold until their individual big day arrives, although I do expect plenty of rumours as to what they are holding.\r\n\r\nFrom my perspective, I want to keep it simple… very simple.\r\n\r\nThe FED are the HAWKS and the ECB are the DOVES.\r\n\r\nThat’s it - end of story.\r\n\r\nIn my opinion the fun starts now after the poor U.S. data.\r\n\r\nTowards the close last Friday afternoon, the EUR/USD drifted up from lows of 1.0715 to 1.0775. I just see this as a selling opportunity early this week. Incidentally, the EUR/USD rallied 60 pips while the inverse relationship USD/CHF fell only 40 pips.\r\n\r\nI say that the fun starts now because the flood gates will once again be opened, the rocks will be lifted up, and from beneath the rocks the creatures that blessed our TV screens and twitter feeds earlier this year will once again be let loose.\r\n\r\nThese numpties who were saying back in January/ February this year that the EUR/USD was going to 0.8000, 0.9000, 0.9500 and parity etc. will be perched on stools behind desks on CNBC and BLOOMBERG spewing it out once again, in repeat format until we can take no more.\r\n\r\nThe fact is, they were wrong earlier this year with their timings, but now they could be right with their target prices albeit for different reasons.\r\n\r\nI have read umpteen bank reports with regards to the EUR/USD target price ranging from 0.8500 to 0.9500, and frankly this is very possible given the fact that we will be entering a period of at least two years if not more of divergent central bank policy. It is the FED versus the rest. Scary as it sounds, it is the FED on one side and the rest (ECB, BOE, BOJ, SNB, BOC, RBA and RBNZ) on the other side.\r\n\r\nRecently as traders it has all been about scalping and day trading. That style of trading has and always will be there and there are many great shorter time period trading specialists. But what about the longer-term perspective traders who like to plan taking a much longer-term view. Retail traders have had their accounts pressured in 2015 as it became more and more difficult to seek out these trades. Yes, there have been big moves but being able to grab them and plan the market did not allow for that this year in comparison to previous years. We have been in a state of limbo due to central bank policies not being clear or promises not being delivered on time. The delays created uncertainty and this uncertainty gave us choppy markets.\r\n\r\nLooking forward, those traders who adapted to day trading to make a living can now add back position trading.\r\n\r\nIt is now time to plan and strategize. I have already started but I will not be at full steam (100%) until early 2016. Once we have the FED’s plans on further rate increases the divergence will escalate and we have a full proposal from which to base from.\r\n\r\nFrom a traders perspective this is just brilliant. There should be both momentum and directional trading most of the time. There will be sideways moves and retracements from time to time but generally speaking trading with the power of a central bank behind you, you cannot ask for more.\r\n\r\nThere are obvious trades based around the USD majors. The USD/JPY being the exception, we need to see how it will react and this will then set the tone for the JPY cross pairs and of course the commodity cross rate pairs as well. Will we return to a simple risk on / risk off trading environment once again?\r\n\r\nWhatever happens, we have time to plan and select our favourite currency pairs to trade.\r\n\r\nWhilst I expect December to offer lots of trading opportunities in the interim period we can research and strategize ahead for next year. The great news is if you plan well in advance and establish core positions from which to add to or base, your strategy <strong>from</strong> 2016 has all the promise of being a great trading opportunity.\r\n\r\nOf course there will be risks but it is how we manage those risks, which creates differentiation away from the other traders.\r\n\r\nIn 2015 many traders left FX trading partly due to the EUR/CHF peg removal, millions of dollars were lost in a few hours. Then for a week or so thereafter, with uncertainty in the air there were numerous quite wicked squeezes. The traders, who left, called FX a “mugs game”, a “gamble”.\r\n\r\nThis is just NOT true.\r\n\r\nForex has always been and always will be about RISK MANAGEMENT and how you manage RISK. As retail traders we cannot move markets our “niche” is to capture bits of the moves created by banks and the large institutional investors. If we over leverage, or, poorly position ourselves with trades that is our problem through lack of knowledge, skill, ability or understanding.\r\n\r\nIn my opinion, there will never be a better time, a better opportunity to manage risk effectively, than next year 2016. We know the players and what cards they have to play with, we will have it all on the table before Christmas this year. You do not have to be a hero with big trades and risk your account.\r\n\r\nAs I have previously stated, this is for the longer-term. We have the opportunity to take profits bit by bit and grow our broker accounts organically with central bank policy behind our core moves.\r\n\r\nStart planning now.\r\n\r\n&nbsp;\r\n\r\n<strong> </strong><strong> </strong>\r\n<ol start=\"3\">\r\n	<li><strong> THE PREMIUM SERVICE:</strong></li>\r\n</ol>\r\n3.1: SUMMARY OF YEAR TO DATE PERFORMANCE - 2015:\r\n<p style=\"text-align: center;\">PREMIUM SERVICE – COST INCOME ANALYSIS (USD):</p>\r\n<p style=\"text-align: center;\">PROFITS FROM TRADE SET-UPS – to November 14th 2015.\r\n(The profit levels below are based on single lot trades only)</p>\r\n<p style=\"text-align: center;\">MICRO LOT TRADER - 610 trades cost to trade = $60.10\r\n<strong>PROFIT</strong> from 610 trades = <strong>$1,111.70</strong></p>\r\n<p style=\"text-align: center;\">MINI LOT TRADER - 610 trades cost to trade = $610.00\r\n<strong>PROFIT</strong> from 610 trades = <strong>$11,117.00</strong></p>\r\n<p style=\"text-align: center;\">STANDARD LOT TRADER - 610 trades cost to trade = $6,100.00\r\n<strong>PROFIT</strong> from 610 trades = <strong>$111,170.00</strong></p>\r\n<p style=\"text-align: center;\"></p>\r\n3.2: PREMIUM SERVICE – 2015 PERFORMANCE TO DATE:\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/PS-PROFITS1-14112015.png\"><img class=\"aligncenter size-full wp-image-6781\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/PS-PROFITS1-14112015.png\" alt=\"PS PROFITS1 14112015\" width=\"525\" height=\"419\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/PS-PROFITS2-14112015.png\"><img class=\"aligncenter size-full wp-image-6782\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/PS-PROFITS2-14112015.png\" alt=\"PS PROFITS2 14112015\" width=\"536\" height=\"415\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n3.3: PREMIUM SERVICE – 2014 TOTAL PERFORMANCE:\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/PS-PROFITS-2014.png\"><img class=\"aligncenter size-full wp-image-6791\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/PS-PROFITS-2014.png\" alt=\"PS PROFITS 2014\" width=\"529\" height=\"487\" /></a>\r\n\r\nNOTES:\r\n<ul>\r\n	<li>If the above return from Forex Trading interests you go to my website landing page at <a href=\"http://www.weeklyfxdrivethru.com\">weeklyfxdrivethru.com</a> and check out the subscription options and special promotions under the tabs “PREMIUM SERVICE” and “PROMOTIONS”</li>\r\n	<li>If you want more data about the performance and my website does not answer your questions, contact me directly and I will supply the data you require.</li>\r\n	<li>THE PREMIUM SERVICE has subscribers with broker accounts of sizes ranging from $2,500 to over $100,000. A profitable trade is a profitable trade. It is all about trading according to the size of your broker account (EFFECTIVE POSITION SIZING) and applying RISK MANAGEMENT principles at all times.</li>\r\n</ul>\r\n<strong> </strong>\r\n\r\n<strong> </strong>\r\n<ol start=\"4\">\r\n	<li><strong> PREMIUM SERVICE (GOLD) EXCLUSIVE CONTENT:</strong></li>\r\n</ol>\r\n(This area contains exclusive content for PREMIUM SERVICE (GOLD) subscribers)\r\n\r\n4.1: THE PREMIUM SERVICE – TRADING REVIEW:\r\n\r\n4.2: THE DIVERGENT CB MONETARY POLICY – FUNDAMENTAL TRADES:\r\n\r\n4.3: CHANGES TO MY PREFERRED FX BROKER LINEUP:\r\n\r\n4.4: REVISIONS TO TRADE STYLE DEFINITIONS:\r\n\r\n4.5: MAJOR TRADING PAIRS WITH LONGER-TERM MATCHING TRENDS:\r\n\r\n4.6: THE PREMIUM SERVICE - LIVE TRADES ARE:\r\n\r\n4.7: THE PREMIUM SERVICE – LIMIT ORDER TRADES ARE:\r\n\r\n4.8: POTENTIAL TRADES - WHAT PAIRS / CHARTS AM I LOOKING AT?\r\n\r\n<strong> </strong>\r\n\r\n&nbsp;\r\n<ol start=\"5\">\r\n	<li><strong> MY FINAL THOUGHTS:</strong></li>\r\n</ol>\r\nOVERVIEW OF TRADING TIPS &amp; THOUGHTS FOR THE WEEK AHEAD:\r\n\r\nWe are now entering a period when I hope that we will not stagnate waiting for the ECB and the FOMC to meet and inform.\r\n\r\nI think that institutional traders across all markets will be re-addressing their portfolios and making the required adjustments over the next two weeks or so. This could cause some periods of volatility so we should be ready as usual.\r\n\r\nIn the background the normal flows of economic data will provide the basis of day-to-day direction but these moves that emanate from an economic data release could be trumped by a reaction to breaking news from central banks or a positioning trade from a big player being placed or removed.\r\n\r\nRemember, there is not as much activity in the Forex markets this year in comparison to last year and a lot of the banks have lost big bucks trading FX this year. Therefore, liquidity issues are there for very large trades being dumped into the market.\r\n\r\nAs usual trade within your means, use your TRADE PLAN manage RISK with correct POSITION SIZING and STOP PLACEMENT.\r\n\r\nLongevity in trading is paramount to success. Success in trading is based mainly trading high probability trades with your RISKS MANAGED.\r\n\r\nTake care,\r\n\r\nScott Pickering\r\nThe Pip Accumulator\r\n<a href=\"https://weeklyfxdrivethru.com/disclaimer/\">https://weeklyfxdrivethru.com/disclaimer/\r\n</a>BLOG #177','THE CARDS HAVE BEEN DEALT - TIME TO PREPARE FOR 2016','','inherit','closed','closed','','6818-revision-v1','','','2015-11-14 12:54:26','2015-11-14 17:54:26','',6818,'https://weeklyfxdrivethru.com/6818-revision-v1/',0,'revision','',0),