(8836,1,'2017-12-21 09:06:33','2017-12-21 14:06:33','&nbsp;\n\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/PREM-SERV-BIG-LOGO.png\"><img class=\"aligncenter wp-image-10505\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/PREM-SERV-BIG-LOGO-1024x395.png\" alt=\"\" width=\"716\" height=\"276\" /></a>\n\n&nbsp;\n<p style=\"text-align: center;\"><span style=\"font-size: 18pt;\"><strong><u>TRADE STYLES 2018:</u></strong></span></p>\n<u>\n<span style=\"font-size: 14pt;\"><strong>FLASH TRADES (FT):</strong></span>\n</u><u>\n</u>Simply put, these are mainly opportunist trades in LIVE market conditions. These trades are usually based off economic news data releases or, based off a pullback strategy or a GIMME10 strategy.\n\nTRADE STYLE 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.\n\nTARGET AUDIENCE: FLASH TRADES are realistically for traders with very short-term trading horizons. They are called FLASH because I see these as quick directional trades, although, should the momentum keep moving these trades in my trading direction they will remain in play as swing trades could develop.\n\nYou will however notice that I will move stops to maintain profits and protect profits. It is rare that I hold onto these trades for more than a day. The usual life span is minutes rather than hours. In my opinion, traders need to be very active to participate with these trade set-ups.\n\n<u>\n<span style=\"font-size: 14pt;\"><strong>RADAR TRADES (RT):</strong></span></u><u></u>\n\nEssentially Day Trades than I hope will become Swing Trades. These are pre-meditated LIMIT ORDER entry trades set from either Fibonacci levels, pivot points or previous support and resistance levels based off a combination of horizontal or trend line support or resistance. In addition, sometimes chart patterns will help provide either a reason for or support for a trade set up being posted.\n\nTRADE STYLE GOAL: if market conditions apply allow the trade to gather traction and develop into a swing or even a longer-term POSITION trade.\n\nTARGET AUDIENCE: RADAR TRADES are realistically designed and more suitable to day traders, or traders with a shorter time framed horizon with open trades. In my opinion traders need to be active to participate in these trade set-ups.\n\n&nbsp;\n\n<span style=\"font-size: 14pt;\"><strong><u>MOMENTUM TRADES (MOM):</u></strong></span>\n\nThese are 100% either “BUY or SELL STOP ORDERS”, they are LIMIT ORDER entries but they are more often than position at the conclusion of a prior move in a currency pair. More often than not 90% of the time they will be posted at the end of a trading day, week or month.\n\nThey offer an opportunity if triggered to capture pips in the Asian and European sessions based upon the time of the day the trades will be posted.\n\nThey do have greater RISK attached to them on the basis the entry is based mainly on just the end of a move. Not a Fibonacci level, or pivot point, at best I hope to strengthen the proposed entry with a previous level of horizontal support or resistance. They are mostly reversal trades.\n\nTRADE STYLE GOAL: Whilst these trade set ups could be described as opportunist if strengthened by prior levels of interest where buyers and sellers have fought for control, it is possible for these trades to develop into swing trades. When trading with MOMENTUM, and maybe coupled with a sentiment shift the moves can be very powerful.\n\nTARGET AUDIENCE: MOMENTUM TRADES do have a higher degree of RISK associated with them. They are separated so that subscribers can decide whether to take the extra RISK or not. These trades will normally be posted at the close of the trading day and could be attractive to Asian traders as the potential for a reversal may be more opportunist in a new trading session.\n\n<u>\n<span style=\"font-size: 14pt;\"><strong>FUNDAMENTAL TRADES (FUN):</strong></span></u>\n\nThese are LIMIT ORDER entry trades using either buy/sell stop/limit entries to enter the trade. The best way to describe these trades is that they are longer-term perspective trades than RADAR TRADES but not with as longer a term horizon as a POSITION trade.\n\nThey are based off my longer-term FUNDAMENTAL views on a currency. Stops are based upon resistance / support levels, using chart patterns and Fibonacci levels to determine both entry and exit levels. They can be multiple position trades, although POSITION trades are my primary trade style for this approach.\n\nTARGET AUDIENCE: FUNDAMENTAL TRADES are realistically targeted for traders with a longer-term trading horizon. These trades would also suit traders who have a limited access to check the status of their trades during the day.\n\n&nbsp;\n\n<span style=\"font-size: 14pt;\"><strong><u>POSITION TRADES (POS):</u></strong></span>\n\nThese trade set-ups are intended to have a longer-term trading perspective. Being frank, this goal has NEVER really worked so far. I have been too pre-occupied with the market sentiment shifts and not allowed these trades to progress.\n\nIn 2018, these will be of a longer-term duration and a great deal of previous POSITION trading will now become FUNDAMENTAL moving forward.\n\nThese trades are not only targeted at traders who consider they are part-time Forex traders; obviously, all traders can of course take advantage. (My definition of a part-time trader is one who is only able to look at their computer screens, or, mobile devices to check trades two or three times a day).\n\nThese trades are initiated via LIMIT ORDERS, when on a stop or limit basis.\n\nA key feature of these set-ups is that they have much wider than normal stops to allow for market swings and volatility. The trades therefore have a smaller position size to allow for the swings in volatility, but multiple trades in the same currency pair are added when the core trade has gained traction in the desired direction.\n\nThis last point above is VERY IMPORTANT TO NOTE. My stops in 2018 could be as much as Monthly Average True Ranges (ATR\'s). The contingent Liability RISK associated with these trades may be too high if you operate a small balanced broker account.\n\nTRADE STYLE GOAL: is to have multiple trades open/live at any one time and maybe 2/3 open/live trades with the same currency pair. I will of course suggest taking some profits as the trade matures, but hopefully at the same time letting trades run as far as possible.\n\nTARGET AUDIENCE: POSITION TRADES, these trades were initially launched for those traders who like to hold positions for weeks, even months, and for traders who do NOT want to sit in front of their screens 24 x 7. These trades suit the PART-TIME trader who can only check their trades on twitter alerts two or three times a day or are only able to look at their computer screens only a few times a day.\n\n&nbsp;\n\n<span style=\"text-decoration: underline;\"><span style=\"font-size: 14pt;\"><strong>ANTICIPTED TRADE STYLE PENTRATION 2018:</strong></span></span>\n\nFLASH TRADES (FT):\nRADAR TRADES (R:\nMOMENTUM TRADES:\nFUNDAMENTAL TRADES:\nPOSITION TRADES:\n\n&nbsp;\n\nScott Pickering\nThe Pip Accumulator\n1st January 2018\n<h3></h3>\n<h3></h3>\n<h3></h3>\n&nbsp;','Trade Style Definitions','','inherit','closed','closed','','7582-autosave-v1','','','2017-12-21 09:06:33','2017-12-21 14:06:33','',7582,'http://weeklyfxdrivethru.com/7582-autosave-v1/',0,'revision','',0),(10993,1,'2018-02-17 07:58:27','2018-02-17 12:58:27','<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2018/02/LIMIT-ORDERS-17022018.png\"><img class=\"aligncenter size-large wp-image-10981\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2018/02/LIMIT-ORDERS-17022018-1024x840.png\" alt=\"\" width=\"1024\" height=\"840\" /></a>','Limit Orders','','inherit','closed','closed','','9399-revision-v1','','','2018-02-17 07:58:27','2018-02-17 12:58:27','',9399,'https://weeklyfxdrivethru.com/9399-revision-v1/',0,'revision','',0),(10994,1,'2018-02-17 07:59:16','2018-02-17 12:59:16','<h4>Flash Trades Archives:</h4>\r\n<section class=\"clearfix\">\r\n<div class=\"one-half first\">\r\n<h2>This Month\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2018/02/FLASH-17022018.png\"><img class=\"aligncenter size-large wp-image-10984\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2018/02/FLASH-17022018-762x1024.png\" alt=\"\" width=\"762\" height=\"1024\" /></a></h2>\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n</div>\r\n<div class=\"one-half\">\r\n<h2>Year to date<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2018/01/FLASH-JANYTD2018.png\"><img class=\"aligncenter size-large wp-image-10894\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2018/01/FLASH-JANYTD2018-748x1024.png\" alt=\"\" width=\"748\" height=\"1024\" /></a></h2>\r\n&nbsp;\r\n<h2>Previous Years</h2>\r\n<h2><a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/FLASH-2017-COMPLETE.png\"><img class=\"aligncenter wp-image-10711 size-full\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/FLASH-2017-COMPLETE.png\" alt=\"\" width=\"864\" height=\"950\" /></a></h2>\r\n<h2><img class=\"aligncenter size-full wp-image-8809\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/12/FLASH-2016-COMPLETE.png\" alt=\"\" width=\"872\" height=\"952\" />\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/FLASH-2015-COMP-copy.png\"><img class=\"aligncenter size-full wp-image-10668\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/FLASH-2015-COMP-copy.png\" alt=\"\" width=\"422\" height=\"447\" /></a></h2>\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/FLASH-2014-COMPLETE.png\"><img class=\"aligncenter size-full wp-image-8859\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/FLASH-2014-COMPLETE.png\" alt=\"\" width=\"700\" height=\"744\" /></a>\r\n<h2></h2>\r\n</div>\r\n</section>','Flash Trades','','inherit','closed','closed','','2711-revision-v1','','','2018-02-17 07:59:16','2018-02-17 12:59:16','',2711,'https://weeklyfxdrivethru.com/2711-revision-v1/',0,'revision','',0),(10704,1,'2017-12-21 09:10:09','2017-12-21 14:10:09','&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/PREM-SERV-BIG-LOGO.png\"><img class=\"aligncenter wp-image-10505\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/PREM-SERV-BIG-LOGO-1024x395.png\" alt=\"\" width=\"716\" height=\"276\" /></a>\r\n\r\n&nbsp;\r\n<p style=\"text-align: center;\"><span style=\"font-size: 18pt;\"><strong><u>TRADE STYLES 2018:</u></strong></span></p>\r\n<u>\r\n<span style=\"font-size: 14pt;\"><strong>FLASH TRADES (FT):</strong></span>\r\n</u><u>\r\n</u>Simply put, these are mainly opportunist trades in LIVE market conditions. These trades are usually based off economic news data releases or, based off a pullback strategy or a GIMME10 strategy.\r\n\r\nTRADE STYLE 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\n\r\nTARGET AUDIENCE: FLASH TRADES are realistically for traders with very short-term trading horizons. They are called FLASH because I see these as quick directional trades, although, should the momentum keep moving these trades in my trading direction they will remain in play as swing trades could develop.\r\n\r\nYou will however notice that I will move stops to maintain profits and protect profits. It is rare that I hold onto these trades for more than a day. The usual life span is minutes rather than hours. In my opinion, traders need to be very active to participate with these trade set-ups.\r\n\r\n<u>\r\n<span style=\"font-size: 14pt;\"><strong>RADAR TRADES (RT):</strong></span></u><u></u>\r\n\r\nEssentially Day Trades than I hope will become Swing Trades. These are pre-meditated LIMIT ORDER entry trades set from either Fibonacci levels, pivot points or previous support and resistance levels based off a combination of horizontal or trend line support or resistance. In addition, sometimes chart patterns will help provide either a reason for or support for a trade set up being posted.\r\n\r\nTRADE STYLE GOAL: if market conditions apply allow the trade to gather traction and develop into a swing or even a longer-term POSITION trade.\r\n\r\nTARGET AUDIENCE: RADAR TRADES are realistically designed and more suitable to day traders, or traders with a shorter time framed horizon with open trades. In my opinion traders need to be active to participate in these trade set-ups.\r\n\r\n&nbsp;\r\n\r\n<span style=\"font-size: 14pt;\"><strong><u>MOMENTUM TRADES (MOM):</u></strong></span>\r\n\r\nThese are 100% either “BUY or SELL STOP ORDERS”, they are LIMIT ORDER entries but they are more often than position at the conclusion of a prior move in a currency pair. More often than not 90% of the time they will be posted at the end of a trading day, week or month.\r\n\r\nThey offer an opportunity if triggered to capture pips in the Asian and European sessions based upon the time of the day the trades will be posted.\r\n\r\nThey do have greater RISK attached to them on the basis the entry is based mainly on just the end of a move. Not a Fibonacci level, or pivot point, at best I hope to strengthen the proposed entry with a previous level of horizontal support or resistance. They are mostly reversal trades.\r\n\r\nTRADE STYLE GOAL: Whilst these trade set ups could be described as opportunist if strengthened by prior levels of interest where buyers and sellers have fought for control, it is possible for these trades to develop into swing trades. When trading with MOMENTUM, and maybe coupled with a sentiment shift the moves can be very powerful.\r\n\r\nTARGET AUDIENCE: MOMENTUM TRADES do have a higher degree of RISK associated with them. They are separated so that subscribers can decide whether to take the extra RISK or not. These trades will normally be posted at the close of the trading day and could be attractive to Asian traders as the potential for a reversal may be more opportunist in a new trading session.\r\n\r\n<u>\r\n<span style=\"font-size: 14pt;\"><strong>FUNDAMENTAL TRADES (FUN):</strong></span></u>\r\n\r\nThese are LIMIT ORDER entry trades using either buy/sell stop/limit entries to enter the trade. The best way to describe these trades is that they are longer-term perspective trades than RADAR TRADES but not with as longer a term horizon as a POSITION trade.\r\n\r\nThey are based off my longer-term FUNDAMENTAL views on a currency. Stops are based upon resistance / support levels, using chart patterns and Fibonacci levels to determine both entry and exit levels. They can be multiple position trades, although POSITION trades are my primary trade style for this approach.\r\n\r\nTARGET AUDIENCE: FUNDAMENTAL TRADES are realistically targeted for traders with a longer-term trading horizon. These trades would also suit traders who have a limited access to check the status of their trades during the day.\r\n\r\n&nbsp;\r\n\r\n<span style=\"font-size: 14pt;\"><strong><u>POSITION TRADES (POS):</u></strong></span>\r\n\r\nThese trade set-ups are intended to have a longer-term trading perspective. Being frank, this goal has NEVER really worked so far. I have been too pre-occupied with the market sentiment shifts and not allowed these trades to progress.\r\n\r\nIn 2018, these will be of a longer-term duration and a great deal of previous POSITION trading will now become FUNDAMENTAL moving forward.\r\n\r\nThese trades are not only targeted at traders who consider they are part-time Forex traders; obviously, all traders can of course take advantage. (My definition of a part-time trader is one who is only able to look at their computer screens, or, mobile devices to check trades two or three times a day).\r\n\r\nThese trades are initiated via LIMIT ORDERS, when on a stop or limit basis.\r\n\r\nA key feature of these set-ups is that they have much wider than normal stops to allow for market swings and volatility. The trades therefore have a smaller position size to allow for the swings in volatility, but multiple trades in the same currency pair are added when the core trade has gained traction in the desired direction.\r\n\r\nThis last point above is VERY IMPORTANT TO NOTE. My stops in 2018 could be as much as Monthly Average True Ranges (ATR\'s). The contingent Liability RISK associated with these trades may be too high if you operate a small balanced broker account.\r\n\r\nTRADE STYLE GOAL: is to have multiple trades open/live at any one time and maybe 2/3 open/live trades with the same currency pair. I will of course suggest taking some profits as the trade matures, but hopefully at the same time letting trades run as far as possible.\r\n\r\nTARGET AUDIENCE: POSITION TRADES, these trades were initially launched for those traders who like to hold positions for weeks, even months, and for traders who do NOT want to sit in front of their screens 24 x 7. These trades suit the PART-TIME trader who can only check their trades on twitter alerts two or three times a day or are only able to look at their computer screens only a few times a day.\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\"><span style=\"font-size: 14pt;\"><strong>ANTICIPATED TRADE STYLE PENETRATION 2018 (BASED ON 600 COMPLETED TRADES):</strong></span></span>\r\n<p style=\"text-align: left;\">FLASH TRADES (FT): 15% (90 trades)\r\nRADAR TRADES (RT): 15% (90 trades)\r\nMOMENTUM TRADES (MOM): 15% (90 trades)\r\nFUNDAMENTAL TRADES (FUN): 35% (210 trades)\r\nPOSITION TRADES (POS): 20% (120 trades)</p>\r\n&nbsp;\r\n\r\nScott Pickering\r\nThe Pip Accumulator\r\n1st January 2018\r\n<h3></h3>\r\n<h3></h3>\r\n<h3></h3>\r\n&nbsp;','Trade Style Definitions','','inherit','closed','closed','','7582-revision-v1','','','2017-12-21 09:10:09','2017-12-21 14:10:09','',7582,'https://weeklyfxdrivethru.com/7582-revision-v1/',0,'revision','',0),(10706,1,'2017-12-22 18:03:52','2017-12-22 23:03:52','','RADAR DEC2017','','inherit','open','closed','','radar-dec2017','','','2017-12-22 18:09:55','2017-12-22 23:09:55','',2524,'https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/RADAR-DEC2017.png',0,'attachment','image/png',0),(10707,1,'2017-12-22 18:03:59','2017-12-22 23:03:59','','FUN1 DEC2017','','inherit','open','closed','','fun1-dec2017','','','2017-12-22 18:11:02','2017-12-22 23:11:02','',3106,'https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/FUN1-DEC2017.png',0,'attachment','image/png',0),(10708,1,'2017-12-22 18:04:03','2017-12-22 23:04:03','','FUN2 DEC2017','','inherit','open','closed','','fun2-dec2017','','','2017-12-22 18:11:08','2017-12-22 23:11:08','',3106,'https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/FUN2-DEC2017.png',0,'attachment','image/png',0),(10709,1,'2017-12-22 18:04:07','2017-12-22 23:04:07','','POS1 DEC2017','','inherit','open','closed','','pos1-dec2017','','','2017-12-22 18:12:12','2017-12-22 23:12:12','',6965,'https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/POS1-DEC2017.png',0,'attachment','image/png',0),(10710,1,'2017-12-22 18:04:10','2017-12-22 23:04:10','','POS2 DEC2017','','inherit','open','closed','','pos2-dec2017','','','2017-12-22 18:12:18','2017-12-22 23:12:18','',6965,'https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/POS2-DEC2017.png',0,'attachment','image/png',0),(10711,1,'2017-12-22 18:04:17','2017-12-22 23:04:17','','FLASH 2017 COMPLETE','','inherit','open','closed','','flash-2017-complete','','','2017-12-22 18:08:48','2017-12-22 23:08:48','',2711,'https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/FLASH-2017-COMPLETE.png',0,'attachment','image/png',0),(10712,1,'2017-12-22 18:04:24','2017-12-22 23:04:24','','RADAR COMPLETE 2017','','inherit','open','closed','','radar-complete-2017','','','2017-12-22 18:10:08','2017-12-22 23:10:08','',2524,'https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/RADAR-COMPLETE-2017.png',0,'attachment','image/png',0),(10713,1,'2017-12-22 18:04:27','2017-12-22 23:04:27','','FUNDAMENTAL 2017 COMPLETE','','inherit','open','closed','','fundamental-2017-complete','','','2017-12-22 18:11:20','2017-12-22 23:11:20','',3106,'https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/FUNDAMENTAL-2017-COMPLETE.png',0,'attachment','image/png',0),(10714,1,'2017-12-22 18:04:33','2017-12-22 23:04:33','','POSITION COMPLETE 2017','','inherit','open','closed','','position-complete-2017','','','2017-12-22 18:12:29','2017-12-22 23:12:29','',6965,'https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/POSITION-COMPLETE-2017.png',0,'attachment','image/png',0),(10715,1,'2017-12-22 18:04:39','2017-12-22 23:04:39','','DECEMBER CONS. 2017','','inherit','open','closed','','december-cons-2017','','','2017-12-22 18:15:42','2017-12-22 23:15:42','',5002,'https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/DECEMBER-CONS.-2017.png',0,'attachment','image/png',0),(10716,1,'2017-12-22 18:04:44','2017-12-22 23:04:44','','PIP COMPARISON 2017 COMPLETE','','inherit','open','closed','','pip-comparison-2017-complete','','','2017-12-22 18:16:38','2017-12-22 23:16:38','',6869,'https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/PIP-COMPARISON-2017-COMPLETE.png',0,'attachment','image/png',0),(10717,1,'2017-12-22 18:04:55','2017-12-22 23:04:55','','LIMIT1 22122017','','inherit','open','closed','','limit1-22122017','','','2017-12-22 18:07:32','2017-12-22 23:07:32','',9399,'https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/LIMIT1-22122017.png',0,'attachment','image/png',0),(10718,1,'2017-12-22 18:05:03','2017-12-22 23:05:03','','LIMIT2 22122017','','inherit','open','closed','','limit2-22122017','','','2017-12-22 18:07:38','2017-12-22 23:07:38','',9399,'https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/LIMIT2-22122017.png',0,'attachment','image/png',0),(10719,1,'2017-12-22 18:05:07','2017-12-22 23:05:07','','LIVE1 22122017','','inherit','open','closed','','live1-22122017','','','2017-12-22 18:06:39','2017-12-22 23:06:39','',9394,'https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/LIVE1-22122017.png',0,'attachment','image/png',0),(10720,1,'2017-12-22 18:05:10','2017-12-22 23:05:10','','LIVE2 22122017','','inherit','open','closed','','live2-22122017','','','2017-12-22 18:06:44','2017-12-22 23:06:44','',9394,'https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/LIVE2-22122017.png',0,'attachment','image/png',0),(10721,1,'2017-12-22 18:05:21','2017-12-22 23:05:21','','PREM SERV PROFITS1 DEC2017','','inherit','open','closed','','prem-serv-profits1-dec2017','','','2017-12-22 18:14:03','2017-12-22 23:14:03','',5000,'https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/PREM-SERV-PROFITS1-DEC2017.png',0,'attachment','image/png',0),(10722,1,'2017-12-22 18:05:24','2017-12-22 23:05:24','','PREM SERV PROFITS2 DEC2017','','inherit','open','closed','','prem-serv-profits2-dec2017','','','2017-12-22 18:13:34','2017-12-22 23:13:34','',5000,'https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/PREM-SERV-PROFITS2-DEC2017.png',0,'attachment','image/png',0),(10723,1,'2017-12-22 18:05:29','2017-12-22 23:05:29','','PS NET PROFITS 2017 COMPLETE','','inherit','open','closed','','ps-net-profits-2017-complete','','','2017-12-22 18:14:14','2017-12-22 23:14:14','',5000,'https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/PS-NET-PROFITS-2017-COMPLETE.png',0,'attachment','image/png',0),(10991,1,'2018-02-17 07:56:27','2018-02-17 12:56:27','&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/PREM-SERV-BIG-LOGO.png\"><img class=\"aligncenter wp-image-10505\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/PREM-SERV-BIG-LOGO-1024x395.png\" alt=\"\" width=\"716\" height=\"276\" /></a>\r\n\r\n&nbsp;\r\n<p style=\"text-align: center;\"><span style=\"font-size: 18pt;\"><strong><u>TRADE STYLES 2018:</u></strong></span></p>\r\n<u>\r\n<span style=\"font-size: 14pt;\"><strong>FLASH TRADES (FT):</strong></span>\r\n</u><u>\r\n</u>Simply put, these are mainly opportunist trades in LIVE market conditions. These trades are usually based off economic news data releases or, based off a pullback strategy or a GIMME10 strategy.\r\n\r\nTRADE STYLE 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\n\r\nTARGET AUDIENCE: FLASH TRADES are realistically for traders with very short-term trading horizons. They are called FLASH because I see these as quick directional trades, although, should the momentum keep moving these trades in my trading direction they will remain in play as swing trades could develop.\r\n\r\nYou will however notice that I will move stops to maintain profits and protect profits. It is rare that I hold onto these trades for more than a day. The usual life span is minutes rather than hours. In my opinion, traders need to be very active to participate with these trade set-ups.\r\n\r\n<u>\r\n<span style=\"font-size: 14pt;\"><strong>RADAR TRADES (RT):</strong></span></u><u></u>\r\n\r\nEssentially Day Trades than I hope will become Swing Trades. These are pre-meditated LIMIT ORDER entry trades set from either Fibonacci levels, pivot points or previous support and resistance levels based off a combination of horizontal or trend line support or resistance. In addition, sometimes chart patterns will help provide either a reason for or support for a trade set up being posted.\r\n\r\nTRADE STYLE GOAL: if market conditions apply allow the trade to gather traction and develop into a swing or even a longer-term POSITION trade.\r\n\r\nTARGET AUDIENCE: RADAR TRADES are realistically designed and more suitable to day traders, or traders with a shorter time framed horizon with open trades. In my opinion traders need to be active to participate in these trade set-ups.\r\n\r\n&nbsp;\r\n\r\n<span style=\"font-size: 14pt;\"><strong><u>MOMENTUM TRADES (MOM):</u></strong></span>\r\n\r\nThese are 100% either “BUY or SELL STOP ORDERS”, they are LIMIT ORDER entries but they are more often than position at the conclusion of a prior move in a currency pair. More often than not 90% of the time they will be posted at the end of a trading day, week or month.\r\n\r\nThey offer an opportunity if triggered to capture pips in the Asian and European sessions based upon the time of the day the trades will be posted.\r\n\r\nThey do have greater RISK attached to them on the basis the entry is based mainly on just the end of a move. Not a Fibonacci level, or pivot point, at best I hope to strengthen the proposed entry with a previous level of horizontal support or resistance. They are mostly reversal trades.\r\n\r\nTRADE STYLE GOAL: Whilst these trade set ups could be described as opportunist if strengthened by prior levels of interest where buyers and sellers have fought for control, it is possible for these trades to develop into swing trades. When trading with MOMENTUM, and maybe coupled with a sentiment shift the moves can be very powerful.\r\n\r\nTARGET AUDIENCE: MOMENTUM TRADES do have a higher degree of RISK associated with them. They are separated so that subscribers can decide whether to take the extra RISK or not. These trades will normally be posted at the close of the trading day and could be attractive to Asian traders as the potential for a reversal may be more opportunist in a new trading session.\r\n\r\n<u>\r\n<span style=\"font-size: 14pt;\"><strong>FUNDAMENTAL TRADES (FUN):</strong></span></u>\r\n\r\nThese are LIMIT ORDER entry trades using either buy/sell stop/limit entries to enter the trade. The best way to describe these trades is that they are longer-term perspective trades than RADAR TRADES but not with as longer a term horizon as a POSITION trade.\r\n\r\nThey are based off my longer-term FUNDAMENTAL views on a currency. Stops are based upon resistance / support levels, using chart patterns and Fibonacci levels to determine both entry and exit levels. They can be multiple position trades, although POSITION trades are my primary trade style for this approach.\r\n\r\nTARGET AUDIENCE: FUNDAMENTAL TRADES are realistically targeted for traders with a longer-term trading horizon. These trades would also suit traders who have a limited access to check the status of their trades during the day.\r\n\r\n&nbsp;\r\n\r\n<span style=\"font-size: 14pt;\"><strong><u>POSITION TRADES (POS):</u></strong></span>\r\n\r\nThese trade set-ups are intended to have a longer-term trading perspective. Being frank, this goal has NEVER really worked so far. I have been too pre-occupied with the market sentiment shifts and not allowed these trades to progress.\r\n\r\nIn 2018, these will be of a longer-term duration and a great deal of previous POSITION trading will now become FUNDAMENTAL moving forward.\r\n\r\nThese trades are not only targeted at traders who consider they are part-time Forex traders; obviously, all traders can of course take advantage. (My definition of a part-time trader is one who is only able to look at their computer screens, or, mobile devices to check trades two or three times a day).\r\n\r\nThese trades are initiated via LIMIT ORDERS, when on a stop or limit basis.\r\n\r\nA key feature of these set-ups is that they have much wider than normal stops to allow for market swings and volatility. The trades therefore have a smaller position size to allow for the swings in volatility, but multiple trades in the same currency pair are added when the core trade has gained traction in the desired direction.\r\n<p style=\"text-align: left;\">This last point above is VERY IMPORTANT TO NOTE. My stops in 2018 could be as much as Monthly Average True Ranges (ATR\'s). The contingent Liability RISK associated with these trades may be too high if you operate a small balanced broker account. Drawdowns could be at Monthly ATR maximums: -</p>\r\nTYPICAL EXAMPLES:\r\n\r\nEUR/USD = 450 pips\r\nGBP/USD = 600 pips\r\nAUD/USD = 325 pips\r\nEUR/AUD = 590 pips\r\nGBP/AUD = 900 pips\r\nGBP/NZD = 1,250 pips\r\nEUR/JPY = 520 pips\r\nGBP/JPY = 875 pips\r\n\r\nTRADE STYLE GOAL: is to have multiple trades open/live at any one time and maybe 2/3 open/live trades with the same currency pair. I will of course suggest taking some profits as the trade matures, but hopefully at the same time letting trades run as far as possible.\r\n\r\nTARGET AUDIENCE: POSITION TRADES, these trades were initially launched for those traders who like to hold positions for weeks, even months, and for traders who do NOT want to sit in front of their screens 24 x 7. These trades suit the PART-TIME trader who can only check their trades on twitter alerts two or three times a day or are only able to look at their computer screens only a few times a day.\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\"><span style=\"font-size: 14pt;\"><strong>ANTICIPATED TRADE STYLE PENETRATION 2018 (BASED ON 600 COMPLETED TRADES):</strong></span></span>\r\n<p style=\"text-align: left;\">FLASH TRADES (FT): 15% (90 trades)\r\nRADAR TRADES (RT): 15% (90 trades)\r\nMOMENTUM TRADES (MOM): 15% (90 trades)\r\nFUNDAMENTAL TRADES (FUN): 35% (210 trades)\r\nPOSITION TRADES (POS): 20% (120 trades)</p>\r\n&nbsp;\r\n\r\nScott Pickering\r\nThe Pip Accumulator\r\n1st January 2018\r\n<h3></h3>\r\n<h3></h3>\r\n<h3></h3>\r\n&nbsp;','Trade Style Definitions','','inherit','closed','closed','','7582-revision-v1','','','2018-02-17 07:56:27','2018-02-17 12:56:27','',7582,'https://weeklyfxdrivethru.com/7582-revision-v1/',0,'revision','',0),(8841,1,'2016-12-16 17:06:47','2016-12-16 22:06:47','&nbsp;\r\n\r\n&nbsp;\r\n<ol>\r\n 	<li><strong>WHAT AN END TO 2016:</strong></li>\r\n</ol>\r\nI had stopped trading for my end of year break with THE PREMIUM SERVICE when the FED rate hike was announced. So, I was more of an observer rather than a trader with the follow through. I did scalp the odd trade here and there but for most of the time my hands were well away from my keyboards.\r\n\r\nTo say that the moves were explosive would be an understatement. The EUR/USD on the previous weeks ECB Press Conference peaked at around 1.0860 and within 18 hours of the FED rate hike it was printing below 1.0400, not seen since 2002. Big moves with the USD/CAD, USD/CHF and USD/JPY followed the FED rate hike as well. The USD/SEK hit 9.3800, a level not seen since 2002.\r\n\r\nAs I say to all new traders I meet, there is a market every day when trading forex, some days the market moves are just more exaggerated. I must work on new phraseology for this statement moving forward!\r\n\r\n<strong> </strong>\r\n<ol start=\"2\">\r\n 	<li><strong> (A BRIEF) “PREMIUM SERVICE” REVIEW OF 2016:</strong></li>\r\n</ol>\r\nThe third year of the PREMIUM SERVICE is now officially concluded. I am now most definitely on a trading vacation until 8<sup>th</sup> January 2017.\r\n\r\nAs usual, when reporting on the closing annual PREMIUM SERVICE statistics I will also take this opportunity to quickly overview the year from a very, very, high macro level and take a brief look into the next 12 months.\r\n\r\nLooking back, 2016 was a strange year for trading the currency market. I started the year with a new trade style PART-TIME TRADER TRADES, now renamed POSITION TRADES, to take advantage of what I thought would be a year when Central Bank Monetary Policy Divergence would be a trading factor for most of the year.\r\n\r\nWell… I got that wrong…. sensationally wrong!!\r\n\r\nI quickly established a change in my trading behavior and style to compensate for what was not there in the way currencies were behaving; happy days, I thought.\r\n\r\nWham… here in Montreal we were hit with the mother of all ice-storms from the frozen north. This took down power lines, trees, equipment posts… you name it. Home generators froze… nothing worked we were without power for 2.5 days. When the power came back the ISP lines went off for a day or so, as their systems were malfunctioning. For almost a week, I had no trading capabilities, even using a mobile / cell phone was impossible as they were on emergency numbers only!\r\n\r\nThis disaster of course coincided with the Boris Johnson announcement that he was going to vote for a BREXIT. The cable crash and the knock-on effect in the FX market cleared all my pips of profit for the year so far, and, the PREMIUM SERVICE was basically at zero to start the year again in March 2016.\r\n\r\nThen, as if to really test the patience of traders we entered, apart from the GBP which did its own thing, range trading, that just went on and on. Between range trading and the constant, will the FED hike or wont the FED hike… week after week it was pure boring repetition. Amongst this I worked out a way to focus off longer-term trading to avoid the smaller minute charts trading noise. The false breakouts and breakdowns that are associated with range trading really hit hard at times and screwed many traders who were just chasing moves one way then the other.\r\n\r\nIt was very obvious to me. Stand back, widen stops, reduce position sizes, manage risk, change your trade plan and then TRADE IT. Very logical. I had teething problems, it was NOT 100% plain sailing, it never is with FX trading and at times it was both frustrating and annoying taking a longer-term view to let trades develop. At the end of the day however, it worked and POSITION trades are now firmly a part of my on-going trading style options.\r\n\r\nAfter all the year’s nonsense, the PREMIUM SERVICE ended 2016 with a total of new net pips added 13,575 pips… the highest total in a year since inception in 2014.\r\n\r\nTo say that I am delighted would be an understatement. I did trade for a large part of August which I would normally take as vacation to re-charge batteries, however, as the first two months of the year were a trading non-event for me, I traded for a few weeks in summer doldrums to try to meet my “pips” target of 10,000.\r\n\r\nOther highlights were: -\r\n\r\n77% of all trades were profitable.\r\n2016 beat the 2015 performance by 2,889 pips.\r\n\r\nI move into 2017, with just a few small POSITION sized trades primarily in my core AUD/NZD long trade which is still working out it’s inverted head and shoulders pattern.\r\n\r\nMoving on…\r\n\r\nBelow I show the NET PROFITABILITY sheet showing the performance based upon trading just one micro, mini or standard lot, less the costs to trade including an annual PREMIUM SERVICE subscription.\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/12/2016-PREM-SERVICE-COMPLETE.png\"><img class=\"aligncenter size-large wp-image-8831\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/12/2016-PREM-SERVICE-COMPLETE-976x1024.png\" alt=\"\" width=\"976\" height=\"1024\" /></a>\r\n\r\nThe net income is based off single lot trading: -\r\n$0.10 for micro lot trades\r\n$1.00 for mini lot trades and\r\n$10.00 for standard lot trades.\r\n\r\nMy goal each year from the 40 weeks minimum that I guarantee to trade is 10,000 pips.\r\n\r\nI have achieved this in 2014, 2015 and now 2016. There is nothing to indicate at the moment, that I will not achieve over 10,000 pips in 2017.\r\n\r\nBelow, I have added two excel spreadsheets, firstly, what I call my CONSOLIDATED PERFORMANCE ANALYSIS for the year and secondly, my PIP COMPARISON analysis broken down month by month comparing the results to 2015 (Next year, I must think of more catchy names for these documents).\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/12/CONS-PERF-DEC2016-YTD.png\"><img class=\"aligncenter size-large wp-image-8815\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/12/CONS-PERF-DEC2016-YTD-852x1024.png\" alt=\"\" width=\"852\" height=\"1024\" /></a>\r\n\r\n&nbsp;\r\n\r\n<strong><a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/12/PIP-COMPARISON-2016-COMPLETE.png\"><img class=\"aligncenter size-large wp-image-8816\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/12/PIP-COMPARISON-2016-COMPLETE-1024x615.png\" alt=\"\" width=\"1024\" height=\"615\" /></a> </strong>\r\n\r\nFinally, in 2016 I launched POSITION TRADES as a new trade style.\r\n\r\nIn January 2016, I posted to the PART-TIME FOREX TRADERS section of my landing page menu bar, a cashflow projection for a trading account based on my projected performance trading POSITION TRADES in 2016. Each quarter I updated the performance versus the projection.\r\n\r\nI am pleased to say that the PREMIUM SERVICE beat the projection. A complete review can be found in the PART-TIME FOREX TRADERS section of my landing page at www.weeklyfxdrivethru.com. I do however show below the final excel sheet containing the final numbers.\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/12/POS-TRADES-ACTUAL-V-PROJ-2016.png\"><img class=\"aligncenter size-large wp-image-8818\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/12/POS-TRADES-ACTUAL-V-PROJ-2016-997x1024.png\" alt=\"\" width=\"997\" height=\"1024\" /></a>\r\n\r\n&nbsp;\r\n<ol start=\"3\">\r\n 	<li><strong> PREMIUM SERVICE: ARE THERE ANY CHANGES PLANNED FOR 2017?</strong></li>\r\n</ol>\r\nThe simple answer is yes.\r\n\r\nNotable changes next year are: -\r\n\r\nThe 4-week subscription is going to disappear. Whilst there are some genuine traders who look at the 4-week option as a trial, the clear majority of 4 week subscriptions are from gamblers rather than traders. There are sadly only a few exceptions. The gamblers expect multiple trade set ups a day. The concept of RISK MANAGEMENT, POSITION SIZING and waiting for the trade to come to your price is lost.\r\n\r\nDealing with constant emails demanding more and more trades was both time consuming and at times deflating. Moving forward, I only want committed and serious traders who are in FX trading for the long haul.\r\n\r\nTherefore, managing my time better moving forward = no 4-week subscription option. I will focus my energy on Serious and Committed Traders.\r\n\r\nSecondly, I want to increase my “VALUE ADD”. In 2016, I launched a Platinum level of subscription, whereby annual subscribers received a discounted subscription price upon renewal. When I launched this subscription level I added that I wanted to offer other FREE but optional benefits. This fell by the wayside in 2016 due to time limitations (somewhat caused by dealing with 4-week subscribers).\r\n\r\nThe first optional benefit is a 20-30 minute personal REVIEW MEETING via SKYPE. This can take the form of basically what the individual subscriber wants. It will be structured and reviewed monthly and documented (As every trader is different in RISK TOLERANCE, experiences and trading styles, I do not want a rigid structure but a more personalized option). This option will be open only to Platinum (Annual) subscribers.\r\n\r\nThirdly, I will be starting weekly PERISCOPE broadcasts. This will be open for all to begin with. Over the next couple of weeks, I will be testing out the technology to see how easy or difficult it’s going to be.\r\n\r\nFourthly, several changes to the speed about my website will take place, so if the site is down it should only be a short time. We apparently have two options so tests will take place. In addition, I will be renaming some of my reporting documents to streamline my administration time and whilst this will affect PREMIUM SERVICE subscribers mostly, subscribers to this FREE NEWSLETTER will see only a few subtle changes.\r\n\r\nIn addition, THE WEEKLY FX DRIVE THRU will change once again, but this will only be 100% completed by the end of Q1 2017.\r\n\r\nThere are a few additional minor changes that I need to tinker with. I am hoping these are quick fixes. If 2016 remains true to form, the quick fixes are usually very painful and time delayed and those changes that I deem awkward and slow usually sail though in record time.\r\n\r\nFinally, as usual I have revised subscriptions prices not just to keep pace with the market, but to also reflect the trading consistencies of the PREMIUM SERVICE and my value adds over and above what other providers offer. These increases will take place in the first week of 2017. There is no fixed date, it will be in effect as soon as my website developer implement it after the holidays.\r\n\r\nTherefore, to ensure “this years” prices for “next years” performance you need to subscribe in 2016.\r\n\r\nFROM JANUARY 1st 2017: -\r\n4 week subscriptions – will cease first week of January 2017.\r\n10 week subscriptions -  will increase to CAD $1,000.00 (CAD$100.00 per week).\r\n20 week subscriptions – will increase to CAD $1,500.00 (CAD$75.00 per week).\r\n40 week subscriptions – will increase to CAD $2,500.00 (CAD$62.50 per week).\r\n\r\n40 week subscriptions are classified as PLATINUM MEMBERSHIP and renewals for PLATINUM MEMBERS will be CAD $2,000.00 (CAD$50.00 per week).\r\n\r\nAs mentioned before I only want to work with committed traders. Based upon the 2016 performance this brings up my fees in 2017 to just under 6.5% of the income generated by just 3 x mini lot trades (based upon an annual subscription). This still represents excellent value despite the increase.\r\n\r\nTherefore, to reiterate, if YOU want a piece of a potential 10,000 pip annual performance and want to beat the price rise go to my website <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a> and subscribe before the end of 2016 to make sure that you obtain the current year prices.\r\n\r\n&nbsp;\r\n<ol start=\"3\">\r\n 	<li><strong> TRADING PREDICTIONS for 2017:</strong></li>\r\n</ol>\r\nGiven that my thoughts around this time of the year in 2015 about 2016 were a little off point, and, having studied most of the big banks Forex predictions, no one got it correct, I am good company…. or should that be bad company?\r\n\r\nRegular subscribers will know that I am NOT backward in coming forward about issues in the EUROZONE. Without doubt, I think that we have many big issues to address and trade through next year in addition to the continuing woes in the EUROZONE.\r\n\r\nBelow I have listed 8 factors / events that I believe will be in focus for most if not all next year.\r\n<ol>\r\n 	<li>THE EUROZONE</li>\r\n 	<li>CENTRAL BANK MONETARY POLICY DIVERGENCE</li>\r\n 	<li>THE DONALD TRUMP EFFECT</li>\r\n 	<li>BREXIT THE ARTICLE 50 TRIGGER</li>\r\n 	<li>THE GROWTH OF POPULARISM</li>\r\n 	<li>OPEC and OIL PRICES</li>\r\n 	<li>THE USD &amp; EMERGING MARKETS</li>\r\n 	<li>THE FED EFFECT ON THE YEN</li>\r\n</ol>\r\nThere are others items, but this list is enough to keep me very interested in 2017.\r\n\r\nI am not going to predict currency moves one way or the other, but what I will say is that the USD should strengthen, and, if DONALD TRUMP’S policies are enacted upon, the FED could be raising rates twice, maybe three times a year for the next couple of years.\r\n\r\nWhilst most of the attention is focused on THE DONALD, I believe that Central Bank monetary policy divergence will be the big news next year. The FED has helped the ECB and BOJ by raising rates. Whilst I can see the ECB tapering by the year end of 2017, I cannot see the BOJ following, given what has been said so far. Hence, why the divergence and the behavior with the JPY will be interesting to follow. The EUR/JPY and CHF/JPY could be the trades of the year.\r\n\r\nThese 8 points listed above, I will come back to in my first blog of next year.\r\n\r\nI move into 2017 with a few CORE TRADING POSITIONS already in place with THE PREMIUM SERVICE, ready to capitalize, on what I believe will happen based upon my longer-term FUNDAMENTAL views.\r\n\r\n<strong> </strong>\r\n<ol start=\"4\">\r\n 	<li><strong> CLOSING THOUGHTS:</strong></li>\r\n</ol>\r\nNothing more to add here except,\r\n\r\nAs usual…\r\n\r\nAlways remember longevity in Forex trading can only be achieved through trading with good RISK and MONEY MANAGEMENT, and above all set your position sizes in accordance with the size of your account and allow for some flexibility.\r\n\r\nThe WEEKLY FX DRIVE THRU blog returns January 8<sup>th</sup> 2017.\r\n\r\nTake care, have a Happy Christmas / Happy Holidays whatever and here’s to another great trading year in 2017.\r\n\r\n&nbsp;\r\n\r\nScott Pickering\r\nThe Pip Accumulator\r\n<a href=\"http://weeklyfxdrivethru.com/disclaimer/\">http://weeklyfxdrivethru.com/disclaimer/</a>\r\n\r\nBLOG VERSION: #225 FREE NEWSLETTER\r\nDATE: 17<sup>th</sup> December 2016.\r\n\r\n<strong>\r\n</strong>','2016 PREMIUM SERVICE RESULTS & A PEEK INTO 2017','','publish','open','closed','','2016-premium-service-results-peek-2017','','','2016-12-16 17:06:47','2016-12-16 22:06:47','',0,'http://weeklyfxdrivethru.com/?p=8841',0,'post','',0),(8842,1,'2016-12-16 17:06:47','2016-12-16 22:06:47','&nbsp;\r\n\r\n&nbsp;\r\n<ol>\r\n 	<li><strong>WHAT AN END TO 2016:</strong></li>\r\n</ol>\r\nI had stopped trading for my end of year break with THE PREMIUM SERVICE when the FED rate hike was announced. So, I was more of an observer rather than a trader with the follow through. I did scalp the odd trade here and there but for most of the time my hands were well away from my keyboards.\r\n\r\nTo say that the moves were explosive would be an understatement. The EUR/USD on the previous weeks ECB Press Conference peaked at around 1.0860 and within 18 hours of the FED rate hike it was printing below 1.0400, not seen since 2002. Big moves with the USD/CAD, USD/CHF and USD/JPY followed the FED rate hike as well. The USD/SEK hit 9.3800, a level not seen since 2002.\r\n\r\nAs I say to all new traders I meet, there is a market every day when trading forex, some days the market moves are just more exaggerated. I must work on new phraseology for this statement moving forward!\r\n\r\n<strong> </strong>\r\n<ol start=\"2\">\r\n 	<li><strong> (A BRIEF) “PREMIUM SERVICE” REVIEW OF 2016:</strong></li>\r\n</ol>\r\nThe third year of the PREMIUM SERVICE is now officially concluded. I am now most definitely on a trading vacation until 8<sup>th</sup> January 2017.\r\n\r\nAs usual, when reporting on the closing annual PREMIUM SERVICE statistics I will also take this opportunity to quickly overview the year from a very, very, high macro level and take a brief look into the next 12 months.\r\n\r\nLooking back, 2016 was a strange year for trading the currency market. I started the year with a new trade style PART-TIME TRADER TRADES, now renamed POSITION TRADES, to take advantage of what I thought would be a year when Central Bank Monetary Policy Divergence would be a trading factor for most of the year.\r\n\r\nWell… I got that wrong…. sensationally wrong!!\r\n\r\nI quickly established a change in my trading behavior and style to compensate for what was not there in the way currencies were behaving; happy days, I thought.\r\n\r\nWham… here in Montreal we were hit with the mother of all ice-storms from the frozen north. This took down power lines, trees, equipment posts… you name it. Home generators froze… nothing worked we were without power for 2.5 days. When the power came back the ISP lines went off for a day or so, as their systems were malfunctioning. For almost a week, I had no trading capabilities, even using a mobile / cell phone was impossible as they were on emergency numbers only!\r\n\r\nThis disaster of course coincided with the Boris Johnson announcement that he was going to vote for a BREXIT. The cable crash and the knock-on effect in the FX market cleared all my pips of profit for the year so far, and, the PREMIUM SERVICE was basically at zero to start the year again in March 2016.\r\n\r\nThen, as if to really test the patience of traders we entered, apart from the GBP which did its own thing, range trading, that just went on and on. Between range trading and the constant, will the FED hike or wont the FED hike… week after week it was pure boring repetition. Amongst this I worked out a way to focus off longer-term trading to avoid the smaller minute charts trading noise. The false breakouts and breakdowns that are associated with range trading really hit hard at times and screwed many traders who were just chasing moves one way then the other.\r\n\r\nIt was very obvious to me. Stand back, widen stops, reduce position sizes, manage risk, change your trade plan and then TRADE IT. Very logical. I had teething problems, it was NOT 100% plain sailing, it never is with FX trading and at times it was both frustrating and annoying taking a longer-term view to let trades develop. At the end of the day however, it worked and POSITION trades are now firmly a part of my on-going trading style options.\r\n\r\nAfter all the year’s nonsense, the PREMIUM SERVICE ended 2016 with a total of new net pips added 13,575 pips… the highest total in a year since inception in 2014.\r\n\r\nTo say that I am delighted would be an understatement. I did trade for a large part of August which I would normally take as vacation to re-charge batteries, however, as the first two months of the year were a trading non-event for me, I traded for a few weeks in summer doldrums to try to meet my “pips” target of 10,000.\r\n\r\nOther highlights were: -\r\n\r\n77% of all trades were profitable.\r\n2016 beat the 2015 performance by 2,889 pips.\r\n\r\nI move into 2017, with just a few small POSITION sized trades primarily in my core AUD/NZD long trade which is still working out it’s inverted head and shoulders pattern.\r\n\r\nMoving on…\r\n\r\nBelow I show the NET PROFITABILITY sheet showing the performance based upon trading just one micro, mini or standard lot, less the costs to trade including an annual PREMIUM SERVICE subscription.\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/12/2016-PREM-SERVICE-COMPLETE.png\"><img class=\"aligncenter size-large wp-image-8831\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/12/2016-PREM-SERVICE-COMPLETE-976x1024.png\" alt=\"\" width=\"976\" height=\"1024\" /></a>\r\n\r\nThe net income is based off single lot trading: -\r\n$0.10 for micro lot trades\r\n$1.00 for mini lot trades and\r\n$10.00 for standard lot trades.\r\n\r\nMy goal each year from the 40 weeks minimum that I guarantee to trade is 10,000 pips.\r\n\r\nI have achieved this in 2014, 2015 and now 2016. There is nothing to indicate at the moment, that I will not achieve over 10,000 pips in 2017.\r\n\r\nBelow, I have added two excel spreadsheets, firstly, what I call my CONSOLIDATED PERFORMANCE ANALYSIS for the year and secondly, my PIP COMPARISON analysis broken down month by month comparing the results to 2015 (Next year, I must think of more catchy names for these documents).\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/12/CONS-PERF-DEC2016-YTD.png\"><img class=\"aligncenter size-large wp-image-8815\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/12/CONS-PERF-DEC2016-YTD-852x1024.png\" alt=\"\" width=\"852\" height=\"1024\" /></a>\r\n\r\n&nbsp;\r\n\r\n<strong><a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/12/PIP-COMPARISON-2016-COMPLETE.png\"><img class=\"aligncenter size-large wp-image-8816\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/12/PIP-COMPARISON-2016-COMPLETE-1024x615.png\" alt=\"\" width=\"1024\" height=\"615\" /></a> </strong>\r\n\r\nFinally, in 2016 I launched POSITION TRADES as a new trade style.\r\n\r\nIn January 2016, I posted to the PART-TIME FOREX TRADERS section of my landing page menu bar, a cashflow projection for a trading account based on my projected performance trading POSITION TRADES in 2016. Each quarter I updated the performance versus the projection.\r\n\r\nI am pleased to say that the PREMIUM SERVICE beat the projection. A complete review can be found in the PART-TIME FOREX TRADERS section of my landing page at www.weeklyfxdrivethru.com. I do however show below the final excel sheet containing the final numbers.\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/12/POS-TRADES-ACTUAL-V-PROJ-2016.png\"><img class=\"aligncenter size-large wp-image-8818\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/12/POS-TRADES-ACTUAL-V-PROJ-2016-997x1024.png\" alt=\"\" width=\"997\" height=\"1024\" /></a>\r\n\r\n&nbsp;\r\n<ol start=\"3\">\r\n 	<li><strong> PREMIUM SERVICE: ARE THERE ANY CHANGES PLANNED FOR 2017?</strong></li>\r\n</ol>\r\nThe simple answer is yes.\r\n\r\nNotable changes next year are: -\r\n\r\nThe 4-week subscription is going to disappear. Whilst there are some genuine traders who look at the 4-week option as a trial, the clear majority of 4 week subscriptions are from gamblers rather than traders. There are sadly only a few exceptions. The gamblers expect multiple trade set ups a day. The concept of RISK MANAGEMENT, POSITION SIZING and waiting for the trade to come to your price is lost.\r\n\r\nDealing with constant emails demanding more and more trades was both time consuming and at times deflating. Moving forward, I only want committed and serious traders who are in FX trading for the long haul.\r\n\r\nTherefore, managing my time better moving forward = no 4-week subscription option. I will focus my energy on Serious and Committed Traders.\r\n\r\nSecondly, I want to increase my “VALUE ADD”. In 2016, I launched a Platinum level of subscription, whereby annual subscribers received a discounted subscription price upon renewal. When I launched this subscription level I added that I wanted to offer other FREE but optional benefits. This fell by the wayside in 2016 due to time limitations (somewhat caused by dealing with 4-week subscribers).\r\n\r\nThe first optional benefit is a 20-30 minute personal REVIEW MEETING via SKYPE. This can take the form of basically what the individual subscriber wants. It will be structured and reviewed monthly and documented (As every trader is different in RISK TOLERANCE, experiences and trading styles, I do not want a rigid structure but a more personalized option). This option will be open only to Platinum (Annual) subscribers.\r\n\r\nThirdly, I will be starting weekly PERISCOPE broadcasts. This will be open for all to begin with. Over the next couple of weeks, I will be testing out the technology to see how easy or difficult it’s going to be.\r\n\r\nFourthly, several changes to the speed about my website will take place, so if the site is down it should only be a short time. We apparently have two options so tests will take place. In addition, I will be renaming some of my reporting documents to streamline my administration time and whilst this will affect PREMIUM SERVICE subscribers mostly, subscribers to this FREE NEWSLETTER will see only a few subtle changes.\r\n\r\nIn addition, THE WEEKLY FX DRIVE THRU will change once again, but this will only be 100% completed by the end of Q1 2017.\r\n\r\nThere are a few additional minor changes that I need to tinker with. I am hoping these are quick fixes. If 2016 remains true to form, the quick fixes are usually very painful and time delayed and those changes that I deem awkward and slow usually sail though in record time.\r\n\r\nFinally, as usual I have revised subscriptions prices not just to keep pace with the market, but to also reflect the trading consistencies of the PREMIUM SERVICE and my value adds over and above what other providers offer. These increases will take place in the first week of 2017. There is no fixed date, it will be in effect as soon as my website developer implement it after the holidays.\r\n\r\nTherefore, to ensure “this years” prices for “next years” performance you need to subscribe in 2016.\r\n\r\nFROM JANUARY 1st 2017: -\r\n4 week subscriptions – will cease first week of January 2017.\r\n10 week subscriptions -  will increase to CAD $1,000.00 (CAD$100.00 per week).\r\n20 week subscriptions – will increase to CAD $1,500.00 (CAD$75.00 per week).\r\n40 week subscriptions – will increase to CAD $2,500.00 (CAD$62.50 per week).\r\n\r\n40 week subscriptions are classified as PLATINUM MEMBERSHIP and renewals for PLATINUM MEMBERS will be CAD $2,000.00 (CAD$50.00 per week).\r\n\r\nAs mentioned before I only want to work with committed traders. Based upon the 2016 performance this brings up my fees in 2017 to just under 6.5% of the income generated by just 3 x mini lot trades (based upon an annual subscription). This still represents excellent value despite the increase.\r\n\r\nTherefore, to reiterate, if YOU want a piece of a potential 10,000 pip annual performance and want to beat the price rise go to my website <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a> and subscribe before the end of 2016 to make sure that you obtain the current year prices.\r\n\r\n&nbsp;\r\n<ol start=\"3\">\r\n 	<li><strong> TRADING PREDICTIONS for 2017:</strong></li>\r\n</ol>\r\nGiven that my thoughts around this time of the year in 2015 about 2016 were a little off point, and, having studied most of the big banks Forex predictions, no one got it correct, I am good company…. or should that be bad company?\r\n\r\nRegular subscribers will know that I am NOT backward in coming forward about issues in the EUROZONE. Without doubt, I think that we have many big issues to address and trade through next year in addition to the continuing woes in the EUROZONE.\r\n\r\nBelow I have listed 8 factors / events that I believe will be in focus for most if not all next year.\r\n<ol>\r\n 	<li>THE EUROZONE</li>\r\n 	<li>CENTRAL BANK MONETARY POLICY DIVERGENCE</li>\r\n 	<li>THE DONALD TRUMP EFFECT</li>\r\n 	<li>BREXIT THE ARTICLE 50 TRIGGER</li>\r\n 	<li>THE GROWTH OF POPULARISM</li>\r\n 	<li>OPEC and OIL PRICES</li>\r\n 	<li>THE USD &amp; EMERGING MARKETS</li>\r\n 	<li>THE FED EFFECT ON THE YEN</li>\r\n</ol>\r\nThere are others items, but this list is enough to keep me very interested in 2017.\r\n\r\nI am not going to predict currency moves one way or the other, but what I will say is that the USD should strengthen, and, if DONALD TRUMP’S policies are enacted upon, the FED could be raising rates twice, maybe three times a year for the next couple of years.\r\n\r\nWhilst most of the attention is focused on THE DONALD, I believe that Central Bank monetary policy divergence will be the big news next year. The FED has helped the ECB and BOJ by raising rates. Whilst I can see the ECB tapering by the year end of 2017, I cannot see the BOJ following, given what has been said so far. Hence, why the divergence and the behavior with the JPY will be interesting to follow. The EUR/JPY and CHF/JPY could be the trades of the year.\r\n\r\nThese 8 points listed above, I will come back to in my first blog of next year.\r\n\r\nI move into 2017 with a few CORE TRADING POSITIONS already in place with THE PREMIUM SERVICE, ready to capitalize, on what I believe will happen based upon my longer-term FUNDAMENTAL views.\r\n\r\n<strong> </strong>\r\n<ol start=\"4\">\r\n 	<li><strong> CLOSING THOUGHTS:</strong></li>\r\n</ol>\r\nNothing more to add here except,\r\n\r\nAs usual…\r\n\r\nAlways remember longevity in Forex trading can only be achieved through trading with good RISK and MONEY MANAGEMENT, and above all set your position sizes in accordance with the size of your account and allow for some flexibility.\r\n\r\nThe WEEKLY FX DRIVE THRU blog returns January 8<sup>th</sup> 2017.\r\n\r\nTake care, have a Happy Christmas / Happy Holidays whatever and here’s to another great trading year in 2017.\r\n\r\n&nbsp;\r\n\r\nScott Pickering\r\nThe Pip Accumulator\r\n<a href=\"http://weeklyfxdrivethru.com/disclaimer/\">http://weeklyfxdrivethru.com/disclaimer/</a>\r\n\r\nBLOG VERSION: #225 FREE NEWSLETTER\r\nDATE: 17<sup>th</sup> December 2016.\r\n\r\n<strong>\r\n</strong>','2016 PREMIUM SERVICE RESULTS & A PEEK INTO 2017','','inherit','closed','closed','','8841-revision-v1','','','2016-12-16 17:06:47','2016-12-16 22:06:47','',8841,'http://weeklyfxdrivethru.com/8841-revision-v1/',0,'revision','',0),(9222,1,'2017-03-03 15:43:32','2017-03-03 20:43:32','','PREM SERV PROFITS2 FEB17','','inherit','open','closed','','prem-serv-profits2-feb17','','','2017-03-03 15:45:30','2017-03-03 20:45:30','',3012,'https://weeklyfxdrivethru.com/wp-content/uploads/2017/03/PREM-SERV-PROFITS2-FEB17.png',0,'attachment','image/png',0),(9267,1,'2017-03-11 06:09:41','2017-03-11 11:09:41','','AUDUSD D 12032017','','inherit','open','closed','','audusd-d-12032017','','','2017-03-11 06:28:35','2017-03-11 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Subscription-renewal\" width=\"400\" /></a>\r\n<h3>Premium Service Annual Renewal (PLATINUM SUBSCRIBERS)</h3>\r\n<h2 class=\"price\">CAD $1000.00</h2>\r\n<a class=\"button\" href=\"https://weeklyfxdrivethru.com/premium-service-annual-subscription-renewal/\" type=\"button\"> Buy Now</a>\r\n\r\n</div>\r\n</section>[/s2If]\r\n\r\n[s2If current_user_is(s2member_level2)]\r\nPlease renew your Premium Service Subscription after logging out\r\n[/s2If]\r\n[s2If !is_user_logged_in()]\r\n\r\n<section class=\"clearfix\">\r\n<div class=\"one-third first membership\">\r\n\r\n<a href=\"./monthly-rollover-subscrption/\"><img class=\"alignleft size-full wp-image-9897\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/08/MonthlyRolloverSubscription.jpg\" alt=\"Monthly Rollover Subscription\" width=\"400\" /></a>\r\n<h3>MONTHLY ROLLOVER SUBSCRPTION</h3>\r\n<h2 class=\"price\">CAD $10.00 for the first 10 days</h2>\r\n<h2 class=\"price\">CAD $150.00 per month</h2>\r\n<a class=\"button\" href=\"./monthly-rollover-subscrption/\" type=\"button\"> Buy Now</a>\r\n\r\n</div>\r\n<div class=\"one-third membership\">\r\n\r\n<a href=\"./premium-service-20-weeks-subscription\"><img class=\"alignleft size-full wp-image-7746\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2016/05/6-Months-Subscriptions.jpg\" alt=\"Premium Service 6-Months-Subscriptions\" width=\"400\" /></a>\r\n<h3>6 Months Subscription (GOLD LEVEL SUBSCRIBERS)</h3>\r\n<h2 class=\"price\">CAD $800.00</h2>\r\n<a class=\"button\" href=\"./premium-service-20-weeks-subscription\" type=\"button\"> Buy Now</a>\r\n\r\n</div>\r\n<div class=\"one-third membership\">\r\n\r\n<a href=\"./premium-service-40-weeks-subscription\"><img class=\"alignleft size-full wp-image-7747\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2016/05/Annual-Subscription.jpg\" alt=\"Premium Service Annual-Subscription\" width=\"750\" height=\"750\" /></a>\r\n<h3>Annual Subscription (PLATINUM LEVEL SUBSCRIBERS)</h3>\r\n<h2 class=\"price\">CAD $1250.00</h2>\r\n<a class=\"button\" href=\"./premium-service-40-weeks-subscription\" type=\"button\"> Buy Now</a>\r\n\r\n</div>\r\n</section>[/s2If]','Subscription Options','','inherit','closed','closed','','7749-revision-v1','','','2017-11-23 11:00:30','2017-11-23 16:00:30','',7749,'https://weeklyfxdrivethru.com/7749-revision-v1/',0,'revision','',0),(8850,16,'2017-01-04 10:20:24','2017-01-04 15:20:24','<img src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2016/05/3-Months-Subscription-300x300.jpg\" alt=\"3-Months-Subscription\" width=\"300\" height=\"300\" class=\"alignleft size-medium wp-image-7745\" /><h3>Please make sure you have read the <a href=\"./terms-and-conditions/\" title=\"Terms and Conditions\" target=\"_blanc\">Terms and Conditions</a> of this subscription before signing up.</h3>\r\n[s2Member-Pro-Stripe-Form level=\"3\" ccaps=\"\" desc=\"$1000 CAD / One Time (for 3 month access, non-recurring, no trial)\" cc=\"CAD\" 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17:55:07','',2524,'http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/RADAR-2014-COMPLETE.png',0,'attachment','image/png',0),(8859,1,'2017-01-04 12:51:44','2017-01-04 17:51:44','','FLASH 2014 COMPLETE','','inherit','open','closed','','flash-2014-complete','','','2017-01-04 12:52:55','2017-01-04 17:52:55','',2711,'http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/FLASH-2014-COMPLETE.png',0,'attachment','image/png',0),(8860,1,'2017-01-04 12:51:48','2017-01-04 17:51:48','','FUNDAMENTAL YEAR TO DATE 2014','','inherit','open','closed','','fundamental-year-to-date-2014','','','2017-01-04 12:58:01','2017-01-04 17:58:01','',3106,'http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/FUNDAMENTAL-YEAR-TO-DATE-2014.png',0,'attachment','image/png',0),(8861,1,'2017-01-04 12:51:54','2017-01-04 17:51:54','','P&L RATIOS 2014 COMPLETE','','inherit','open','closed','','pl-ratios-2014-complete','','','2017-01-04 13:00:12','2017-01-04 18:00:12','',5002,'http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/PL-RATIOS-2014-COMPLETE.png',0,'attachment','image/png',0),(8862,1,'2017-01-04 12:52:02','2017-01-04 17:52:02','','RISK REWARD RATIONS 2014 YTD','','inherit','open','closed','','risk-reward-rations-2014-ytd','','','2017-01-04 13:00:17','2017-01-04 18:00:17','',5002,'http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/RISK-REWARD-RATIONS-2014-YTD.png',0,'attachment','image/png',0),(10682,1,'2017-12-16 15:08:20','2017-12-16 20:08:20','<strong> </strong>\r\n<ol>\r\n 	<li><span style=\"font-size: 16pt;\"><strong>THE FIRST FEW SHOTS:</strong></span></li>\r\n</ol>\r\nWith a tear in my eye and sadness in my heart, I have to announce that this is the last DRIVE THRU blog of 2017. My arse… I can’t wait for the Christmas break; I am looking forward to Turkey, bingeing on TV and Football and having a few Jack Daniels or glasses of Shiraz or Pinot Noir without worrying about getting up early for news events in the European session.\r\n\r\nSo, we have had the FED rate hike, with Janet Yellen’s farewell press conference, the BOE and SNB staying pat and Draghi at the ECB running through a press conference ensuring that he continues to emphasize low rates, support forever or even longer than that.\r\n\r\nJanet Yellen delivered a dovish rate hike, the USD sold off, it was nothing more than a buy the rumour, sell the news event. She confirmed that interest rate hikes would continue and the “Dot” plot, which was also released at the same time looked for three more rate increases in 2018.\r\n\r\nThomas Jordan and Mark Carney, did not surprise at all. Policies at the SNB and BOE remain unchanged. Rather boring data releases.\r\n\r\nMario Draghi started off his press conference with the words “Happy Christmas”.\r\n\r\nFirstly, he could never say that in the U.S. without being frowned upon.\r\n\r\nSecondly, he looked ready for the staff Christmas Party, he was in a jolly mood, the most relaxed I have seen him for a long, long, long time. I lost count of references that were dovish, or mentioned extended periods of time and long after QE etc… There were several of them.\r\n\r\nAll the hard work had been done by the ECB in the previous 60 days. All Draghi had to do in the interim period was silence the governing council numpties that can’t keep their gobs shut so that the run in to the end of the year was smooth without awkward questions.\r\n\r\nBlasting through the data highlights from last week…\r\n\r\nOn top of the Central Bank statements, Retail Sales in the UK finally spiked over 1%. U.S. Retail Sales beat estimates, UK inflation hit 3.1%, however, UK average earnings were still lagging at 2.5%. But the prize for the best statistics last week had to go to Australian Employment Data, it beat by a landslide, 18.1K jobs expected but 61.6k recorded.\r\n\r\nHowever…\r\n\r\nWhile that all sounds great, the FX market, has recently been driven by news events.\r\n\r\nIn the U.S. it’s all about the GOP TAX BILL. That fiasco goes on, and on, and on, and on… The latest that I have read, (but being honest I am kind of bored with the whole GOP / TRUMP thing I am exhausted and apathy has set in, thank God, its Christmas!) was that LITTLE MARCO who was voting against has been bought and now he’s in favour and that voting in both houses should happen this week. However, there are still senators not 100% so we could see more twists right up to the votes being cast….\r\n\r\nEight years in opposition with two prime pieces of legislation that apparently united the GOP…. OBAMACARE &amp; TAX REFORM, and the GOP operates like a headless chicken. Sorry to keep with the poultry trend, but many Republicans have no idea what they are voting for….  For many I am certain that its tantamount to “Turkey’s voting for Christmas”.\r\n\r\nD.C. IS NO BETTER THAN A REALITY TV SHOW\r\n\r\nWith all confidence, I can safely say that one way or another TRUMP will dominate the U.S. markets this week. Initially, the Tax Bill has control of the markets moving forward. It will be this news event the makes the moves…. Then who knows what’s next to surface or reappear?\r\n\r\nIn Europe, BREXIT has the narrative. Theresa May loses a crucial house vote, flies off to Brussels hits the EU Christmas Party council meeting, sits on Santa’s knee, asks Santa for the OK to move to phase two of the BREXIT NEGOTIATIONS to be her wish for Christmas and low and behold… Phase two it is!\r\n\r\nI think that it’s fair to say this is now the meat of the BREXIT negotiations and in true politician style, its urgent, so they will start discussions in March 2018, leaving just a year to complete the divorce. It’s a tall order. The pathway forward is clear, but there will be twists and turns along the way.\r\n\r\nFrom an FX viewpoint, I am now trying to get my head around all the FUNDAMENTALS of the past 7 days or so, Central Banks, U.S. politics, BREXIT and China to have my goals clear in my head for Q1 and Q2 next year. I don\'t think that I can’t look too far beyond H1.\r\n\r\nNext year in FX should be just as challenging as this year, which leads me nicely forward…\r\n<p style=\"text-align: center;\"><span style=\"font-size: 14pt;\"><strong>“BUY ONE GET ONE FREE”</strong></span></p>\r\nWith a new year on the horizon and another target of 10,000 pips for me to beat in 2018, I am launching a PREMIUM SERVICE promotion “BUY ONE GET ONE FREE” running until January 31st 2018.\r\n\r\nAll “sign-ups” under this promotion, please note that your subscription period will NOT start until January 8<sup>th</sup> 2018, which is the formal date for next year’s trading to commence. Having said that, trading will continue albeit at a greatly reduced involvement through the holidays.\r\n\r\nThe benefit of subscribing now means that you cannot only take advantage of the trading that does take place but you can also use the interim period as an opportunity to familiarize yourself with the website and location of the content.\r\n\r\nThe details of the “BUY ONE GET ONE FREE” promotion can be found on my home page under the TAB “PROMOTIONS”\r\n\r\n<strong> </strong>\r\n<ol start=\"2\">\r\n 	<li><span style=\"font-size: 16pt;\"><strong>MY (THE PREMIUM SERVICE) TRADING LAST WEEK:</strong></span></li>\r\n</ol>\r\nLast week was light on trading for me. There was just too much chop in the market to maintain my interest 100%.  Add to this the end of the year account balancing and reduced liquidity it didn’t really get the blood circulating through my veins at the normal rate.\r\n\r\nMy thoughts are probably a little “old school”, in the sense that why trade when you believe the market is not true and does sit with your TRADE PLAN. In other words, why take on the RISK?\r\n\r\nI was more focused last week myself on exits rather than entries…\r\n\r\nAs mentioned in previous “DRIVE THRU” blogs, I was looking to manage out of my USD/CAD position. Well, I off-loaded my long-term USD/CAD short position. I decided NOT to wait until next year. My belief is that this pair will move higher before resuming lower. All the indicators were against me, I was trying to swim upstream and whilst I gave myself time and several attempts to manufacture an out trade for my HEDGED position it was just NOT working so I decided to minimize additional losses and take my pain.\r\n\r\nThe end result is that at the moment I am running a loss position on “pips” for this month, with just a week to go until I close off for 2017.\r\n\r\n<u>PERFORMANCE 2017 TO DATE:</u>\r\n\r\n2017 YEAR TO DATE:                +12,116 net pips\r\n\r\nThis is roughly where I predicted the year end 2017 total will lie, I am well above my net 10,000 pip objective.\r\n\r\n<strong> </strong>\r\n<ol start=\"3\">\r\n 	<li><span style=\"font-size: 16pt;\"><strong>THE FX MARKET PLACE THIS WEEK:</strong></span></li>\r\n</ol>\r\n<u>\r\n<span style=\"font-size: 14pt;\">3:1. THIS WEEK’S ECONOMIC DATA RELEASES:</span></u>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/ECON-DATA-17122017.png\"><img class=\"aligncenter size-large wp-image-10643\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/ECON-DATA-17122017-1024x829.png\" alt=\"\" width=\"1024\" height=\"829\" /></a>\r\n\r\n&nbsp;\r\n\r\n<span style=\"font-size: 14pt;\"><u>3:2. MY THOUGHTS ON THIS WEEK’S ECONOMIC DATA:</u></span>\r\n\r\nThis week, will be a strange one as we wind down for Christmas. There are only a couple of economic releases that will make sure that I am around for “LIVE” the rest I will pick up via Twitter.\r\n\r\nThe year-end movements and re-balancing for most institutions took place last Friday. In my opinion, liquidity could be dreadful this week. Moves could therefore be exaggerated; therefore, one should be very cautious.\r\n\r\n<strong><u>NZD:</u></strong><u> GDP</u>.\r\n\r\nWhilst this is a quarterly backwards looking number, it is a number that the markets respect.\r\n\r\nA word of caution. This data is scheduled for release Wednesday at the start of Asian Trading. At the best of times Asian Trading is thin. At this time of the year it could be brutal.\r\n\r\nGiven the political situation in New Zealand, this number should be noted as it should reflect most of the initial period of the new Labour governments tenure. If it is a poor number, I do not think that too much can be attributed to the new Labour government, although in economics as well as politics bad news does stick… at least initially.\r\n\r\nRight now, the NZD looks strong and a good number here could project it well above the .7070 (38% Fib. retracement) towards the next trend line resistance around 0.7200.\r\n\r\nI would be very surprised if we see such a projected move but stranger things have happened in a thin market trading environment.\r\n\r\n<strong><u>\r\nCAD:</u></strong><u> CPi, RETAIL SALES and GDP.</u>\r\n\r\nStephen Poloz, Governor of the BOC, is not on my 2017 Christmas card list. He shot the USD/CAD lower the day after I took losses… bugger!\r\n\r\nMedium-term, I do see the BOC having little alternative but to raise rates to keep differentials with the FED intact.\r\n\r\nAll of this data coming in line or at least beating the previous releases as a minimum is required to give Poloz support to move on rates early in 2018. The next BOC statement is scheduled on January 17th, the following one which is when I think he will raise interest rates is scheduled for March 7th, 2018.\r\n\r\nIncreasing interest rates then will beat the first possibility of another FED rise. The FOMC meet March 21st, but the smart money is on a U.S. rise at the FOMC June 13th meeting.\r\n\r\nInterest rate conjecture placed to one side, this data takes on greater importance given the latest FED policy statement.\r\n\r\n&nbsp;\r\n\r\n<strong><u>GBP:</u></strong><u> CURRENT ACCOUNT.</u>\r\n\r\nI am not an economist, nor do I consider myself any sort of expert in this area but as with most things, a little knowledge is dangerous.\r\n\r\nFadó, fadó (a long, long time ago), well it seems it now, I studied Government and Politics, Economics and Commerce in my last years of education. Bits and pieces are still stuck in the grey matter inside my skull.\r\n\r\nThis data (Current Account) is largely ignored by the press and markets. I believe with BREXIT it’s probably one of the key pieces of data that the H.M. Treasury and the BOE examine it under a microscope.\r\n\r\nThis is all about the health of an economy.\r\n\r\nIt is the balance sheet of trade and services and monetary transfers in and out of the UK.\r\n\r\nCombined with BREXIT, the fact that the UK is basically a service industry economy and the BREXIT effect on the City of London through companies exiting the UK, could have a huge effect on the CURRENT ACCOUNT as monies will be re-directed away from the UK.\r\n\r\nThis affects jobs directly in Financial services based in the UK as well direct and indirect support service jobs and business viability.\r\n\r\nThe last print was GBP -23.2biliion. There are targets and limits; it is the pace of change that is also watched. It is somewhat of a stealth number at times. It should create a response in normal trading conditions. It just depends how many traders are around on December 22nd!\r\n\r\nIt is worth following re the fundamentals, in my opinion.\r\n\r\n&nbsp;\r\n\r\n<span style=\"font-size: 14pt;\"><u>3:3. USD MAJORS – SUPPORT &amp; RESISTANCE with BIAS:</u></span>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/TCHART-17122017.png\"><img class=\"aligncenter size-large wp-image-10644\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/TCHART-17122017-1024x887.png\" alt=\"\" width=\"1024\" height=\"887\" /></a>\r\n\r\n&nbsp;\r\n\r\n<span style=\"font-size: 14pt;\"><u>3:4. USD – TRADING CHARTS: </u></span>\r\n\r\nMore often than not I will use DAILY CHARTS for my analysis. My commentary and thoughts for each trading pair are above the charts.\r\n\r\nCANDLE ANALYSIS: I have now added my thoughts based on the closing daily and weekly candles to the weeks trading.\r\n\r\n<strong>\r\n<u>EUR/USD:</u>\r\n</strong>\r\nDAILY CLOSING CANDLE:           SHOOTING STAR\r\nWEEKLY CLOSING CANDLE:      SPINNING TOP\r\n\r\nOn FOMC day, there was a very, very strong move higher as you can see on the chart below. Usually, when someone says to me what follows a big GREEN candle, like the one seen last Wednesday, 9 times out of 10 I would reply, another BIG GREEN candle.\r\n\r\nHowever, the following day was the ECB rate announcement and press conference in which, Mario Draghi was a little more dovish than expected and he forced the single currency lower.\r\n\r\nFriday was the end of the year bookkeeping adjustment day and we saw a chunk of volatility in the markets. Will we pull higher once again after the weekend into this week?\r\n\r\nThe range is quite well defined at 1.1715 to 1.1960.\r\n\r\nWe have ended the week bearish but until we break support or resistance we are in my opinion just range trading.\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/EURUSD-D-171222017.png\"><img class=\"aligncenter size-large wp-image-10656\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/EURUSD-D-171222017-1024x464.png\" alt=\"\" width=\"1024\" height=\"464\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n<strong><u>GBP/USD:</u></strong>\r\n\r\nDAILY CLOSING CANDLE: CLOSING CHART PATTERN = EVENING STAR\r\nWEEKLY CLOSING CANDLE: SHOOTING STAR\r\n\r\nIt’s all rather bearish if these candles play out for the start of the week.\r\n\r\nFrom my perspective, the flag pattern shown on the chart is still in play unless we break below 1.3290, at which point it is invalidated and all bets are off on the bullish side.\r\n\r\nShould 1.3300 hold, the measured move with the flag is 1.3740.\r\n\r\nWe just have to bear in mind any BREXIT news vis-a-via the cable.\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/GBPUSD-D-17122017.png\"><img class=\"aligncenter size-large wp-image-10657\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/GBPUSD-D-17122017-1024x464.png\" alt=\"\" width=\"1024\" height=\"464\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n<strong><u>AUD/USD:</u></strong>\r\n\r\nDAILY CLOSING CANDLE:           SHOOTING STAR\r\nWEEKLY CLOSING CANDLE:      BULLISH\r\n\r\nWe are in a triangle pattern and this pair bounced nicely off a December 2016 trend line.\r\n\r\nWe do not have alignment with candles and this matches a non-alignment with sentiment.\r\n\r\nWe have to see above 0.7740 or below 0.7490 to get a momentum move confirmed in my opinion.\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/AUDUSD-D-17122017.png\"><img class=\"aligncenter size-large wp-image-10655\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/AUDUSD-D-17122017-1024x464.png\" alt=\"\" width=\"1024\" height=\"464\" /></a>\r\n\r\n&nbsp;\r\n\r\n<strong><u>NZD/USD:</u></strong>\r\n\r\nDAILY CLOSING CANDLE:           BEARISH\r\nWEEKLY CLOSING CANDLE:      BULLISH<strong><u>\r\n</u></strong>\r\nSentiment has shifted bullish, but the candles are lagging a little. The daily close represents the USD strength into the end of the year bookkeeping adjustments.\r\n\r\nEarly this week, I expect this pair to move higher back with trend and sentiment.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/NZDUSD-D-17122017.png\"><img class=\"aligncenter size-large wp-image-10658\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/NZDUSD-D-17122017-1024x464.png\" alt=\"\" width=\"1024\" height=\"464\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n<strong><u>USD/CAD:</u></strong><strong>\r\n\r\n</strong>\r\n\r\nDAILY CLOSING CANDLE:           BULLISH\r\nWEEKLY CLOSING CANDLE:      HAMMER\r\n\r\nThis pair looks like it is going to move higher and the levels of 1.3000 and 1.3100 appear to be sucking this pair in like a tractor beam from Star Trek.\r\n\r\nWe have a bullish wedge at 1.2915.\r\n\r\nIf this breaks I will have to get long even though I am a little reluctant given the time of the year. In my experience moves out of wedge tend to be very powerful and decisive.\r\n\r\nOn the basis that I booked a loss on this pair to the short side last week the upside potential break would vindicate my decision to cut and run.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/USDCAD-D-17122017.png\"><img class=\"aligncenter size-large wp-image-10659\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/USDCAD-D-17122017-1024x464.png\" alt=\"\" width=\"1024\" height=\"464\" /></a>\r\n\r\n&nbsp;\r\n\r\n<strong><u>USD/CHF:</u></strong>\r\n\r\nDAILY CLOSING CANDLE:           INDECISIVE\r\nWEEKLY CLOSING CANDLE:      HANGING MAN (BULLISH)<strong>\r\n</strong>\r\nAlbeit that last Friday’s candle is neither one thing nor the other, I still feel this pair has a potential upside break ahead of it.\r\n\r\nThe keys levels are 0.9860 and 0.9940.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/USDCHF-D-17122017.png\"><img class=\"aligncenter size-large wp-image-10660\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/USDCHF-D-17122017-1024x464.png\" alt=\"\" width=\"1024\" height=\"464\" /></a>\r\n\r\n&nbsp;\r\n\r\n<strong><u>USD/JPY:</u></strong>\r\n\r\nDAILY CLOSING CANDLE:           BULLISH ENGULFING\r\nWEEKLY CLOSING CANDLE:      BEARISH ENGULFING<u>\r\n</u>\r\nBoth candles are powerful looking candles. The issue is that they are contrary to each other.\r\n\r\nMy thought process here is that the WEEKLY candle should outweigh the DAILY candle. Given the day that last Friday was, that is, closing the books for most institutions on 2017, I would be inclined to believe that this would add weight to my thought process.\r\n\r\nHowever, a word of caution.\r\n\r\nDon’t count on anything as we are entering the silly season vis-à-vis liquidity and I would not believe anything until I see a good couple of sessions pass by to try to establish some confirmation. I know that that sounds a little unrealistic but it is the time of the year that drives my thought process this way.\r\n\r\nWatching levels at 112.00 and 113.20 may give a better visual for directional confirmation.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/USDJPY-D-17122017.png\"><img class=\"aligncenter size-large wp-image-10661\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/USDJPY-D-17122017-1024x464.png\" alt=\"\" width=\"1024\" height=\"464\" /></a>\r\n\r\n&nbsp;\r\n\r\n<span style=\"font-size: 14pt;\"><u>3:5. MY THOUGHTS ON HOW TO PLAY FX THIS WEEK:</u></span>\r\n\r\nIf you are going to trade this week, keep it very small and DO NOT get too involved.\r\n\r\nLiquidity will get worse as the week progresses with most of the institutions, especially in the U.S. well into Christmas Party mode with senior management probably issued directives on what constitutes sexual harassment to be handed down in memo form or discussed in group meetings. There will be headlines early next year… guaranteed. I would say those executives who consider themselves on a “fast track” will avoid the parties. It just takes an accusation and it’s all over.\r\n\r\nGetting back on point…\r\n\r\nThere are market movers in the economic data releases but I think more disturbingly the market will be driven by the GOP and TRUMP.\r\n\r\nI am NOT a believer that the Asian market is good for FX. Liquidity is just getting lower and lower, year by year and the vast majority of times, Asian moves are reversed in Europe. If liquidity is usually poor. Just imagine it this week.\r\n\r\nThe UK liquidity will be better but also poor.\r\n\r\nTherefore, here’s a tip. If you need to trade, trade only the following times when liquidity will be at its highest: 8.00AM EST to NOON EST.\r\n\r\nBe extremely careful with cross rates as they will be the first to suffer from the lower liquidity and exaggerated moves.\r\n\r\n&nbsp;\r\n<ol start=\"4\">\r\n 	<li><span style=\"font-size: 16pt;\"><strong> PREMIUM SERVICE SUBSCRIBERS ONLY:</strong></span></li>\r\n</ol>\r\n(Only SUBSCRIBERS to the PREMIUM SERVICE can view this section of the BLOG)\r\n\r\n<span style=\"font-size: 14pt;\"><u>4:1. TRADING REVIEW:</u></span>\r\n<span style=\"font-size: 14pt;\"> <u>\r\n</u><u>4:2. SENTIMENT CHART,</u><u> FUNDAMENTAL &amp; MACRO THOUGHTS</u><u>:\r\n</u></span>\r\n\r\n<span style=\"font-size: 14pt;\"><u>4:3. TRADING PLANS:</u></span>\r\n\r\n<span style=\"font-size: 14pt;\"><u>4:3.1. TRADING PLAN OVERVIEW THIS WEEK:</u></span>\r\n\r\n<span style=\"font-size: 14pt;\"><u>4:3.2.  EXISTING CORE TRADES (PLANS &amp; STRATEGIES):</u></span>\r\n\r\n<span style=\"font-size: 14pt;\"><u>4:4. CURRENT LIVE TRADES &amp; LIMIT ORDERS:</u></span>\r\n\r\n<span style=\"font-size: 14pt;\"><u>4:5. FX BROKER NEWS with their MARKET FEEDBACK:</u></span>\r\n\r\n&nbsp;\r\n\r\n<strong> </strong>\r\n<ol start=\"5\">\r\n 	<li><span style=\"font-size: 16pt;\"><strong> THE PREMIUM SERVICE:</strong></span></li>\r\n</ol>\r\nThe PREMIUM SERVICE is my own subscriber based Forex support service that offers subscribers my suggested trade set-ups and market commentaries.\r\n\r\n<span style=\"font-size: 14pt;\"><u>5:1. CURRENT 2017 PREMIUM SERVICE PERFORMANCE:</u></span>\r\n\r\nYEAR TO DATE:      +12,116 net pips\r\n\r\nIn sales mode; I am now planning for 2018. I will have live trades through the Christmas and New Year holidays so I will be on twitter and probably email.\r\n\r\nIn 2018, the PREMIUM SERVICE will return with a new TRADE STYLE option for subscribers to consider and the SUBSCRIBER SECTION of the “DRIVE THRU” will be larger with greater emphasis on sentiment and market direction. Therefore, now is a great time to join the PREMIUM SERVICE get familiar and ready to go with the 2018 launch!!\r\n\r\n&nbsp;\r\n\r\n<span style=\"font-size: 14pt;\"><u>5:2. HOW TO SUBSCRIBE TO THE PREMIUM SERVICE:</u></span>\r\n\r\nIf you like what you’ve read in this blog and should you want to go a stage further and subscribe to the PREMIUM SERVICE, this can be done on my website <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a> under the Tab SUBSCRIBE HERE.\r\n\r\n<u>PLEASE NOTE</u>: The TAB on my home page titled PROMOTIONS contains details of the “BUY ONE GET ONE FREE” campaign that is currently in place.\r\n\r\nSubscribing to the PREMIUM SERVICE is not just about receiving a larger “DRIVE THRU” blog packed with more trading supporting information, my thoughts and ideas. There is much more to a subscription than those things. Check it all out under the tab HISTORY &amp; PERFORMANCE on my website <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a>\r\n\r\nAlternatively, if you prefer to watch a video recording about the PREMIUM SERVICE, click the link below. You will be directed to a 40-minute webinar presentation entitled “AN INTRODUCTION TO THE PREMIUM SERVICE”.\r\n\r\n<a href=\"http://screencasts.weeklyfxdrivethru.com/watch/cb6fqiIAZX\">http://screencasts.weeklyfxdrivethru.com/watch/cb6fqiIAZX</a>\r\n\r\nTo subscribe to THE PREMIUM SERVICE, you will require a valid credit card.\r\n<strong> </strong><strong> </strong>\r\n<ol start=\"6\">\r\n 	<li><span style=\"font-size: 16pt;\"><strong> THE FINAL SHOTS:</strong></span></li>\r\n</ol>\r\n<span style=\"font-size: 14pt;\"><u>6:1. WANT A FREE PREMIUM SERVICE SUBSCRIPTION:</u></span>\r\n\r\nIf you like what you have read in this blog and would like the chance to win a FREE SUBSCRIPTION valued at CAD$150.00, all you need to do is subscribe to my FREE NEWSLETTER (this blog), by adding your email address on my welcome page just below my cube logo at <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a>\r\n\r\n&nbsp;\r\n\r\n<span style=\"font-size: 14pt;\"><u>6:2. CLOSING THOUGHTS:</u></span>\r\n\r\nNothing more to add here, I have said enough except,\r\n\r\nAs usual…\r\n\r\nAlways remember longevity in Forex trading can only be achieved through trading with good RISK and MONEY MANAGEMENT, and above all set your position sizes in accordance with the size of your account and allow for some flexibility.\r\n\r\nFinally …\r\n\r\nThe DRIVE THRU blog returns January 13th 2018, in the interim have a\r\n\r\nHappy Christmas and I hopr that you have a great trading year in 2018.\r\n\r\nScott Pickering\r\nThe Pip Accumulator\r\nTwitter: @pipaccumulator\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/disclaimer/\">http://weeklyfxdrivethru.com/disclaimer/</a>\r\n\r\nBLOG VERSION: #263 FREE NEWSLETTER\r\n17th December 2017\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n&nbsp;','THE REALITY TV SHOW IN D.C. ROLLS ON','','publish','open','closed','','reality-tv-show-d-c-rolls','','','2017-12-16 15:08:21','2017-12-16 20:08:21','',0,'https://weeklyfxdrivethru.com/?p=10682',0,'post','',0),(8874,1,'2017-01-06 17:23:03','2017-01-06 22:23:03','','CB INTEREST RATES 2017','','inherit','open','closed','','cb-interest-rates-2017','','','2017-01-07 06:29:32','2017-01-07 11:29:32','',8885,'http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/CB-INTEREST-RATES-2017.png',0,'attachment','image/png',0),(8877,1,'2017-01-06 17:24:44','2017-01-06 22:24:44','','GBPUSD FOR BLOG SECT5 08012017','','inherit','open','closed','','gbpusd-for-blog-sect5-08012017','','','2017-01-07 06:33:03','2017-01-07 11:33:03','',8885,'http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/GBPUSD-FOR-BLOG-SECT5-08012017.png',0,'attachment','image/png',0),(8878,1,'2017-01-06 17:24:53','2017-01-06 22:24:53','','AUDUSD D 08012017','','inherit','open','closed','','audusd-d-08012017','','','2017-01-07 06:27:51','2017-01-07 11:27:51','',8885,'http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/AUDUSD-D-08012017.png',0,'attachment','image/png',0),(8879,1,'2017-01-06 17:24:57','2017-01-06 22:24:57','','EURUSD D 08012017','','inherit','open','closed','','eurusd-d-08012017','','','2017-01-07 06:27:06','2017-01-07 11:27:06','',8885,'http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/EURUSD-D-08012017.png',0,'attachment','image/png',0),(8880,1,'2017-01-06 17:25:03','2017-01-06 22:25:03','','GBPUSD D 08012017','','inherit','open','closed','','gbpusd-d-08012017','','','2017-01-07 06:27:40','2017-01-07 11:27:40','',8885,'http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/GBPUSD-D-08012017.png',0,'attachment','image/png',0),(8881,1,'2017-01-06 17:25:08','2017-01-06 22:25:08','','NZDUSD D 08012017','','inherit','open','closed','','nzdusd-d-08012017','','','2017-01-07 06:28:06','2017-01-07 11:28:06','',8885,'http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/NZDUSD-D-08012017.png',0,'attachment','image/png',0),(8882,1,'2017-01-06 17:25:15','2017-01-06 22:25:15','','USDCAD D 08012017','','inherit','open','closed','','usdcad-d-08012017','','','2017-01-07 06:28:18','2017-01-07 11:28:18','',8885,'http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/USDCAD-D-08012017.png',0,'attachment','image/png',0),(8883,1,'2017-01-06 17:25:20','2017-01-06 22:25:20','','USDCHF 240M 08012017','','inherit','open','closed','','usdchf-240m-08012017','','','2017-01-07 06:28:32','2017-01-07 11:28:32','',8885,'http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/USDCHF-240M-08012017.png',0,'attachment','image/png',0),(8884,1,'2017-01-06 17:25:25','2017-01-06 22:25:25','','USDJPY D 08012017','','inherit','open','closed','','usdjpy-d-08012017','','','2017-01-07 06:28:47','2017-01-07 11:28:47','',8885,'http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/USDJPY-D-08012017.png',0,'attachment','image/png',0),(8885,1,'2017-01-07 06:35:50','2017-01-07 11:35:50','&nbsp;\r\n\r\n&nbsp;\r\n<ol>\r\n 	<li><strong>INTRODUCTION:</strong></li>\r\n</ol>\r\nWelcome 2017.\r\n\r\nWherever you are located, whether you celebrate the Christmas / New Year Holidays or not, I hope you had an enjoyable break.\r\n\r\nI re-opened my screens last week, traded a little, lost more money than I made, getting caught up in thin volume trading and got taken in and out of trades whilst asleep, oh what joy, happy days, it feels great to be back!\r\n\r\nMoving on…\r\n\r\nHopefully from next Monday onwards the markets will have a little more volume attached to them and it will business as usual. I ignored Non-Farm Payrolls and the like last week, I only managed existing trades. I am mentally and psychologically ready for next Monday 9<sup>th</sup> January.\r\n\r\nWhat’s new to mention, that will appear different this year in comparison to last year?\r\n<ol>\r\n 	<li>The “DRIVE THRU” blog format / structure is being amended over the next few weeks. There are some subtle changes already in place.\r\nOne of the benefits of your own blog is the fact you can write all sorts of stuff, you can choose what or who you write about and how you write about them or it.\r\nThis year I am launching “SCOTT’S SOAPBOX” (Section 5 on most blog formats). I will “have a go” in my own way at a multitude of subjects and FX personalities as the year progresses. There is NO shortage of topics or numpties to write about. I have a plethora of subjects ready to rock.</li>\r\n 	<li>Starting next Monday 9<sup>th</sup> January 2017 at 30PM EST – my long-awaited debut on PERISCOPE starts. The 30 minute or so broadcasts are through my twitter address @pipaccumulator\r\nI can be flexible on this time but this was the most popular, and I like it. From my perspective, it\'s a great time as it will be after the close of day one of a new week. We can look at price movements based upon the previous week’s weekly candle plus the last two daily candles.\r\nIn 2016 movements on daily candles were the foundation of the PREMIUM SERVICE success.\r\nAll I ask is cut me some slack for the first two or three weeks whilst I get comfortable with the process….!!</li>\r\n 	<li>During the holiday break, I have been asked by a few non-PREMIUM SERVICE subscribers to re-introduce the weekly training feature that was in my blog each week in 2013-2015.\r\nLast year I had thought about bringing this back, however, I have decided that this is a PREMIUM SERVICE (PLATINUM) subscriber benefit This will be available on a one-on-one basis through the PLATINUM subscriber review meeting.</li>\r\n</ol>\r\n<ol start=\"4\">\r\n 	<li>PREMIUM SERVICE subscription prices have been updated for 2017.</li>\r\n</ol>\r\nLet’s hope that we have a directional, easy to read liquid market with all currencies obeying trend lines, chart pattern measured moves, and it respects Fibonacci levels. Boring as that might be we would all make plenty of $$$ should that happen.\r\n\r\nMy thoughts are that the forex market will be a dysfunctional mess of Central Bank governors clutching at straws in attempts to explain the unexplainable. In addition, we will have the desk sucking, pen pushing, jotter blotters, who are mainly unelected officials (numpties) in places such as Brussels, forcing through their own interpretations of policies creating chaos and disorder in all markets. Not to forget cartels like OPEC who do not even control 100% of their market trying to influence price by defying the pure economics of supply and demand.\r\n\r\nIn summary; I see 2017 a bit of a 2016 replay.\r\n\r\nLet’s get at it….\r\n\r\n<strong> </strong>\r\n<ol start=\"2\">\r\n 	<li><strong> THE FX MARKET PLACE – LOOKING FORWARD:</strong></li>\r\n</ol>\r\n<strong><u>NOTE:</u></strong> This year, 2017, I am not going to look backwards in this section only forwards. News items / points of interest from the prior week will be covered in the introduction.\r\n\r\n<u>ECONOMIC DATA RELEASES:</u>\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/ECON-DATA-08012017.png\"><img class=\"aligncenter size-large wp-image-8873\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/ECON-DATA-08012017-935x1024.png\" alt=\"\" width=\"935\" height=\"1024\" /></a>\r\n\r\n&nbsp;\r\n\r\n<u>MY THOUGHTS ON THE WEEK AHEAD:</u>\r\n\r\nIt looks like a pretty light week on economic data this coming week.\r\n\r\nGiven the price action at the end of last week and the “TRUMP EFFECT” maybe being a little overdone to say the least, we could be in for a choppy period through to the “DONALD’S” inauguration.\r\n\r\nI think that the fact we have seen reactions from both the Chinese and Mexican Central Banks to the  “TWEET EFFECT” from the U.S. President Elect, we will have more of the same on the calendar moving forward. I think we must expect the unexpected, and, frankly given the fact that TWITTER appears to be preferred method of communication at the moment on U.S. policy moves and ideas, we should be on our toes moving through Q1 2017 or at least until things settle down to the TRUMP way of being President. On the positive side, we will know in 140 characters what he’s thinking about rather than having to wade through pages of padding. Dare I say it, the FED could adopt this approach, and, whilst I am at it so could many of the other Central Banks, especially those awfully nice chaps from the RNBZ.\r\n\r\nTherefore, looking ahead, I think that geopolitical news and the stock market will drive the currencies over the next week…. yikes!!\r\n\r\n&nbsp;\r\n\r\n<u> </u>\r\n\r\n<u>USD MAJORS – “IMMEDIATE” SUPPORT &amp; RESISTANCE with TREND:</u>\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/T-CHART-08012017.png\"><img class=\"aligncenter size-large wp-image-8872\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/T-CHART-08012017-1024x794.png\" alt=\"\" width=\"1024\" height=\"794\" /></a>\r\n\r\n&nbsp;\r\n\r\nMy trade charts for the USD majors are below. My thoughts, views and commentary is written on the charts.\r\n\r\nYou will find my charts, hopefully easy to follow. I only use Fibonacci levels, trend lines, confluence points and sometimes chart patterns to identify my high probability trades. If you have any difficulty understanding the points that I am trying to make, please do not hesitate to contract me.\r\n\r\nEUR/USD:\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/EURUSD-D-08012017.png\"><img class=\"aligncenter size-large wp-image-8879\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/EURUSD-D-08012017-1024x475.png\" alt=\"\" width=\"1024\" height=\"475\" /></a>\r\n\r\n&nbsp;\r\n\r\nGBP/USD:\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/GBPUSD-D-08012017.png\"><img class=\"aligncenter size-large wp-image-8880\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/GBPUSD-D-08012017-1024x475.png\" alt=\"\" width=\"1024\" height=\"475\" /></a>\r\n\r\n&nbsp;\r\n\r\nAUD/USD:\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/AUDUSD-D-08012017.png\"><img class=\"aligncenter size-large wp-image-8878\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/AUDUSD-D-08012017-1024x475.png\" alt=\"\" width=\"1024\" height=\"475\" /></a>\r\n\r\n&nbsp;\r\n\r\nNZD/USD:\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/NZDUSD-D-08012017.png\"><img class=\"aligncenter size-large wp-image-8881\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/NZDUSD-D-08012017-1024x475.png\" alt=\"\" width=\"1024\" height=\"475\" /></a>\r\n\r\n&nbsp;\r\n\r\nUSD/CAD:\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/USDCAD-D-08012017.png\"><img class=\"aligncenter size-large wp-image-8882\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/USDCAD-D-08012017-1024x475.png\" alt=\"\" width=\"1024\" height=\"475\" /></a>\r\n\r\n&nbsp;\r\n\r\nUSD/CHF:\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/USDCHF-240M-08012017.png\"><img class=\"aligncenter size-large wp-image-8883\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/USDCHF-240M-08012017-1024x475.png\" alt=\"\" width=\"1024\" height=\"475\" /></a>\r\n\r\n&nbsp;\r\n\r\nUSD/JPY:\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/USDJPY-D-08012017.png\"><img class=\"aligncenter size-large wp-image-8884\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/USDJPY-D-08012017-1024x475.png\" alt=\"\" width=\"1024\" height=\"475\" /></a>\r\n\r\n<strong>\r\n\r\n</strong>\r\n\r\n&nbsp;\r\n<ol start=\"3\">\r\n 	<li><strong>THE PREMIUM SERVICE:</strong><strong> </strong></li>\r\n</ol>\r\n<u>WHAT IS THE PREMIUM SERVICE:</u>\r\n\r\nThe PREMIUM SERVICE is a subscriber, fee based trade set-up option for Forex traders regardless of experience or background. I provide traders suggested trades, and some market commentary related to open trades or factors within the overall market that have my interest.\r\n\r\nFull details of the PREMIUM SERVICE and costs to subscribe plus the various trade styles and how suggested trade set-ups are communicated can be found on my website landing page at <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a> by selecting THE PREMIUM SERVICE tab.\r\n\r\nAdditional information can be found by clicking TESTIMONIALS, PART-TIME TRADERS and FX PROMOTIONS tabs. To subscribe to THE PREMIUM SERVICE, you will require a valid credit card.\r\n\r\n<strong> </strong>\r\n\r\n&nbsp;\r\n<ol start=\"4\">\r\n 	<li><strong>PREMIUM SERVICE – SUBSCRIBER CONTENT AREA:</strong></li>\r\n</ol>\r\n<u>TRADING REVIEW:</u>\r\n\r\nDabbling over the Christmas break was mixed. Some great pips just before Christmas Day and then between Christmas and New Year during thin Asian trading I got caught with two limit orders that triggered in and stopped out in a matter of minutes whilst I was asleep and another couple of trades also fell foul of the thin trading in the single currency… bugger.\r\n\r\nEarly New Year, I was trying to establish some core positions and fell foul of thinner trading volumes once again which created exaggerated moves.\r\n\r\nAll in all, I have a few pips to make up after booking some losses early on.\r\n\r\nI do think that the possibility exists that the USD may be in for a re-trace. I view this as good news and want to try and stick with my POSITION TRADES as fundamentally I am comfortable with my trading direction. I am more than happy to stick with wider stops on the POSITION TRADES based off the monthly Average True Range (ATR) levels when necessary.\r\n\r\n<u>MOVING FORWARD:</u>\r\n\r\nWe have the TRUMP inauguration to look forward to, followed by the fireworks, and I do not mean the ones that mostly go up into the sky.\r\n\r\nWe will endure a period of uncertainty and bold and brash statements as the TRUMP approach will be to turn the long-established log jams in Washington upside down and inside out. I fully expect him to name and shame those who block moves. It should be interesting as voters will be able to see if their elected representative is a mover or a blocker\r\n\r\nFrom a trading perspective, we will have uncertainty in these unchartered waters in the U.S.\r\n\r\nThe EUROZONE, frankly a bit laughable and there will be massive uncertainty for the next 6 months. I want to try to establish some longer term POSITION TRADES with the single currency and to some extent the USD/CHF as well, but a short-term flight to safety trade even with negative interest rates does concern me. Maybe I have some sort of vitamin deficiency or something, but I am not comfortable trading unless I have some CHF exposure to the short side (CHF).\r\n\r\nGiven what I have just written, and, the fact that I will be having to clear up some losses first, I am expecting a gradual 2017 build up.\r\n\r\nI am 100% focused for the year ahead, it will have its moments though.\r\n\r\n<u>CENTRAL BANK - INTEREST RATE DECISIONS 2017:</u>\r\n\r\nThe chart below details the dates (not all 100% confirmed), correct as at 1<sup>st</sup> January 2017, for Interest Rate decisions this year.\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/CB-INTEREST-RATES-2017.png\"><img class=\"aligncenter size-large wp-image-8874\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/CB-INTEREST-RATES-2017-810x1024.png\" alt=\"\" width=\"810\" height=\"1024\" /></a>\r\n\r\n&nbsp;\r\n\r\n<u>WEBINAR PRESENTATION:</u>\r\n\r\nSome of you may see some PREMIUM SERVICE advertising on social media offering a FREE FOREX WEBINAR. Yes; it is me with my scouse accent for 49 minutes and 23 seconds. I am going to let these webinars run for a good while initially and review content for Q2.\r\n\r\nThe purpose of the webinar is to seek out serious and committed Forex traders like yourself.\r\n\r\nUltimately, I will move periscope to YouTube and create a wider on-line presence… at least that is the objective this and next year.\r\n\r\n&nbsp;\r\n\r\n<u>BROKERS for 2017:</u>\r\n\r\nI have had to play with and alter around some of my brokers relationships. It does appear that Canada, not just Quebec, has decided to follow the U.S. with a Dodd /Frank style of approach, just as TRUMP is being sworn in and probably about to repeal most of the Dodd/Frank bureaucracy. (If only they were as diligent on consumer products that have false promises on the label!!).\r\n\r\nThe result of these changes is as follows: -\r\n<ol>\r\n 	<li>I have had to close a couple of 10 year relationships, which frankly is upsetting. Hopefully moving to Prince Edwards Island in April, I may be able to re-kindle relationships, who knows.</li>\r\n 	<li>BLACKWELL GLOBAL, FX PRO and AVATRADE have all gone by the wayside. My “LIVE” traders group with these brokers have now moved to VANTAGE FX based in Sydney, Australia.</li>\r\n 	<li>For now, until the dust settles only HANTEC MARKETS and VANTAGE FX remain as my recommended brokers.\r\n\r\nI commenced trading with two new brokers in the middle of last year, when it became apparent that changes were on the horizon. Hopefully once through an extensive testing period I will add more options once again.</li>\r\n</ol>\r\n<u> </u>\r\n\r\n<u>CORE TRADES:</u>\r\n<ol>\r\n 	<li>AUD/NZD: – Frustrating as it is I am still a believer. I will continue to add on pullbacks and lift off 50 -100 pip gains as they become available.</li>\r\n 	<li>I have also added the EUR/NZD to the NZD portfolio, but, I do not think that this will be a very long term addition. I expected a large move higher in this pair, for now we are trapped in a 150-pip trading range.</li>\r\n 	<li>NZD/USD: – I have started to build, and I will be adding again.\r\n\r\nThe RBNZ is in control, and in my opinion, this is one of the most overpriced currencies in the market at this moment in time. Central Bank divergence should play its part in having this currency revalue organically, but with most, if not all FX fundamentals, patience will be required.\r\n\r\nChina does concern me. I believe the GDT auctions will be more NZD negative this year as the China family birth control factors will kick in stronger.\r\n\r\nThe TRUMP factor on China may help my longer-term views?</li>\r\n 	<li>AUD/USD: - I allowed myself to be stopped out with this pair. I am looking for higher levels to re-stablish short positions once again.\r\n\r\nThe RBA is neutral. China worries me but TRUMP could cause waves on China with commodities and this could negatively affect the AUD.</li>\r\n 	<li>EUR/USD and USD/CHF: - Core positions now being established and I am looking to add more trades as the month progresses.\r\n\r\nAlways going to be looking to add, I think that for at least Q1 and Q2 the EUROZONE will remain under downside pressures. If BREXIT negotiations are difficult, which I believe they should be, the German desire for the ECB to raise rates could be seen for what it is, which is, in an election year pure and utter propaganda to win over the German savers who have been taken to the cleaners with zero savings interest rates for many years now and at all elections they are being fed a plate of empty promises.</li>\r\n</ol>\r\n&nbsp;\r\n\r\n<u>PERISCOPE:</u>\r\n\r\nI am starting Monday 9<sup>th</sup> January, 2017 at 5:30PM EST. This was time most favoured by those of you who responded to my request.\r\n\r\nLet’s see how I get on with the technology; the subject matter should be straightforward. I have a loose agenda prepared based upon the week ahead.\r\n\r\nAs promised if it is successful I will add a restricted version for you guys, I am assuming that this is possible to do.\r\n\r\n&nbsp;\r\n\r\n<strong> </strong>\r\n\r\n<u>PREMIUM SERVICE - TRADES REVIEW<strong>:</strong></u>\r\n\r\nCURRENT PREMIUM SERVICE - LIVE TRADES:\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/PS-LIVE-TRADES-08012017.png\"><img class=\"aligncenter size-large wp-image-8876\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/PS-LIVE-TRADES-08012017-785x1024.png\" alt=\"\" width=\"785\" height=\"1024\" /></a>\r\n\r\nCURRENT PREMIUM SERVICE – LIMIT ORDER TRADES:\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/PS-LIMIT-ORDERS-08012017.png\"><img class=\"aligncenter size-large wp-image-8875\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/PS-LIMIT-ORDERS-08012017-735x1024.png\" alt=\"\" width=\"735\" height=\"1024\" /></a>\r\n\r\n&nbsp;\r\n<ol start=\"5\">\r\n 	<li><strong>SCOTT’S SOAPBOX:</strong></li>\r\n</ol>\r\nIf you recall, in my final “DRIVE THRU” of 2016, I provided a list of TRADING PREDICTIONS for 2017. I basically named several geopolitical events that I feel will weigh on the markets this year. Therefore, for the first few weeks of 2017, I want to look at these events in a little more detail.\r\n\r\nAs you will be aware, so much has been said already on the subjects that I have highlighted, I can only add points and views that are my own, based upon how I see things and how I am going to view trading around these events.\r\n\r\n<strong> </strong>\r\n<p style=\"text-align: center;\"><strong>BREXIT – A LOT OF HOT AIR AND AS OF </strong><strong>“RIGHT NOW” … STILL NOTHING HAS HAPPENED</strong></p>\r\nAs we all know Forex is a future pricing mechanism. Since late June last year after the BREXIT referendum took place, we have all sat back and waited for the mass job losses, economic disaster, financial markets in chaos and general doom and gloom to have run a riot in the UK. It just has not happened. All the fear mongering from David Cameron (Prime Minister at the time) and George Osborne (Chancellor of the Exchequer at the time) was just that…. fear mongering based on zero facts. In fact, if the truth be told those who supported and campaigned for the BREXIT have been closer to the truth than they probably thought during the fierce campaigning that took place in the run up to the June vote.\r\n\r\nThe vote to leave the EU was a huge one and so far, bugger all has happened apart from Messrs. Cameron and Osborne resigning and Theresa May being voted in by the Tory government as the new Prime Minister. Article 50 from the Lisbon treaty has still to be triggered. Prime Minister May has signaled that this will done prior to the end of march 2017.\r\n\r\nAfter the vote came in there was huge uncertainty, the cable dropped like a lead balloon and the BOE under the guidance of the part-time JCB driver on forward guidance aka BOE governor Mark Carney took immediate steps to protect the cable by reducing interest rates to 0.25% and provided additional sterling support through further Quantitative Easing (QE) by an additional £70 billion ensuring competitiveness in business and continued low interest rates for consumers amongst other stabling factors.\r\n\r\nCan you remember his Presidential style walk along a c.300-meter corridor to arrive at his lectern to deliver his rate cutting announcement? That walk was so damn long his mother had given him a packed lunch to eat half way and when he arrived at the lectern he needed to move his watch an hour forward… talk about over dramatic, Holy Mother of God.\r\n\r\nSo, let me look at a few key areas the BRITS were told would feck up their lives if they voted to BREXIT and where are we right now:\r\n\r\n&nbsp;\r\n<ul>\r\n 	<li>THE ECONOMY:\r\n\r\nHuge negative impact and consumer confidence would be crapping the bed. The economy continues to grow. In the quarter following the BREXIT vote by 0.6%.\r\nRetail sales grew 5.9% year over year in November 2016. Inflation has risen to 1.2% in November up from 0.5% in June 2016.\r\nCPi is at 1.2% the highest since October 2014.\r\nHouse price inflation has continued to ease following the BREXIT. This is most apparent in the London area where the impact of BREXIT will be felt the most.\r\nConstruction is bullish despite the rise in raw material prices that are imported.\r\nThe trade gap widened then narrowed in October as exports rose considerably helped by a weaker cable.\r\nThe job front it is more muddled. Unemployment fell from June to October but has since cooled a little as the Financial Services sector uncertainty starts to weigh a little.</li>\r\n 	<li>THE CABLE (CURRENCY):\r\n\r\nAs expected with uncertainty and fueled by the BOE the GBP/USD exchange rate fell from 1.4700 to sub 1.2100 in the months that followed the BREXIT vote. Right now, I believe that cable is in a wide trading range of 1.2100 to 1.2800, see the chart below.\r\nThis move in currency, whilst it has helped exporters, has on the other side made foreign trips abroad for UK tourists more expensive and at the same time import prices for goods have also increased. Obviously, tourist numbers into the UK have increased significantly with a weaker cable.</li>\r\n 	<li>NEGOTIATIONS TO LEAVE THE EU:\r\n\r\nNothing formal yet. Basically, Prime Minister May was advised by EU leaders that the UK would NOT have it easy leaving the EU and it would NOT be allowed to cherry pick EU benefits that it would like to retain given its proximity to mainland Europe. In fact, EU leaders gave Prime Minister May what amounted to a European “Two finger” salute by saying feck off and until you trigger article 50 we are not talking to you.\r\nThe whole situation around article 50 is cloudy. David Davis who is Secretary of State for leaving the EU, hasn\'t even confirmed that he will lead the negotiating team. So, mismanaged is the BREXIT itself the highest-ranking UK official in Brussels Sir Ivan Rogers resigned only last week claiming it’s all a muddle!\r\nThe EU has announced that former French Foreign Minister Michel Barnier will head up to lead the negotiations on behalf of the European Commission. No favours here, technically the BRITS and FRENCH are still at war. There will be no “Entente Cordiale”.\r\nSo it’s all up to Prime Minister May to trigger article 50.</li>\r\n</ul>\r\nThe bottom line; nothing has happened yet.\r\n\r\nWhen the BREXIT vote came through, I must admit my initial thoughts were that the UK would see this process as time consuming, uncertain, pro-longed and expensive. I thought that the government would do what has previously happened in IRELAND and THE NETHERLANDS…have another vote!!\r\n\r\nI had convinced myself that after a few weeks the calls for a re vote because the initial vote was so close would prevail. I have since changed my thoughts.\r\n\r\nThe alleged two years to exit is in my opinion a bit of a dream. Greenland population c.56,000 people left the EU it took them 2 years to exit. With a population of 65 million the UK, is never going to exit in two years given how inter-twined it currently is with the EU. Greenland had a bit of a partnership and that took two years, the BRITS have a far more complex situation.\r\n\r\nThe EU must remain strong and ensure that no special deals are done otherwise there will be a CONTAGION EFFECT as other countries line up to do likewise. The populist vote as seen by BREXIT and then TRUMP is in the ascendancy. There are elections in France, The Netherlands and Germany this year and in all three cases the existing leadership is under a serious threat.\r\n\r\nIn fact, I would go so far as to say that the EU leaders have done nothing at all to stem the tide of the growth in the populist parties back in their own countries, if anything the fact they (as a group) failed to unite after the BREXIT has only fueled the populist parties.\r\n\r\nI have written many times over the past 5/6 years about the fact that main stream politicians are practically useless in using political courage to knock back the populist right. I firmly believe that this is having more than just a minimal effect on EU stability. It is being seen / viewed by voters as mainstream politicians being out of touch.\r\n\r\n&nbsp;\r\n\r\nMOVING FORWARD and TRADING:\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/GBPUSD-FOR-BLOG-SECT5-08012017.png\"><img class=\"aligncenter size-large wp-image-8877\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/GBPUSD-FOR-BLOG-SECT5-08012017-1024x475.png\" alt=\"\" width=\"1024\" height=\"475\" /></a>\r\n\r\nThe BRITS must trigger article 50 before the end of March 2017, failure to do so will have the cable and the single currency doing a merry dance, with the EUR/GBP not knowing whether it’s coming or going.\r\n\r\nWith elections on the horizon the EU will be under its own pressures should a far-right party establish a foothold. It just requires one country to vote out mainstream politics and then we have a domino effect, then a potential CONTAGION.\r\n\r\nThis year I expect the EUR to be under pressure, and it will not take much to see it slip through parity and target lower levels such as 0.9500. We are dangerously close resting around the 1.0500-1.0700 levels, a couple of days with moves lower and if sub 1.0300 is taken a test of parity is on the cards.\r\n\r\nThe cable is still in a bubble despite some sideways moves of late. We are however just range trading and frankly a difficult BREXIT negotiation, which I am certain it will be, will result in a move lower. This talk of SOFT BREXIT / HARD BREXIT, is in my opinion a load of bollocks. It will be tough for the reasons I have already outlined, so to me it’s always going to be a HARD BREXIT…. nothing less. Price wise with the GBP/USD a re-test of just below 1.2100 is there for the taking and frankly 1.1500 maybe even less, looks more than achievable when you think of what needs to be done and the time that this is going to take.\r\n\r\nThe GBP crosses all look vulnerable except for the EUR/GBP for the reasons outlined above regarding the single currency. All the previous lows with the GBP/AUD, GBP/CAD, GBP/CHF, GBP/JPY and GBP/NZD are there, in my opinion for the taking.\r\n\r\nWhen you think so much has been said, so much has been suggested, so many analysts have voiced opinions and so much has been rumoured by so many people and institutions yet to date, nothing serious has happened apart from the vote itself some 7 months ago!!\r\n\r\nI can guarantee you that I will be revisiting this subject more than a dozen times this year.\r\n\r\n<strong> </strong>\r\n<ol start=\"6\">\r\n 	<li><strong>CLOSING THOUGHTS:</strong></li>\r\n</ol>\r\nNothing more to add here, I have said enough except,\r\n\r\nAs usual…\r\n\r\nAlways remember longevity in Forex trading can only be achieved through trading with good RISK and MONEY MANAGEMENT, and above all set your position sizes in accordance with the size of your account and allow for some flexibility.\r\n\r\nTake care, have a great trading week.\r\n\r\nScott Pickering\r\nThe Pip Accumulator\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/disclaimer/\">http://weeklyfxdrivethru.com/disclaimer/</a>\r\n\r\nBLOG VERSION: #122 THE PREMIUM SERVICE\r\nDATE: 8<sup>th</sup> January 2017.<strong>\r\n\r\n</strong>','BREXIT – A LOT OF HOT AIR AND AS OF “RIGHT NOW” … STILL NOTHING HAS HAPPENED','','publish','open','closed','','brexit-lot-hot-air-right-now-still-nothing-happened','','','2017-01-07 06:35:50','2017-01-07 11:35:50','',0,'http://weeklyfxdrivethru.com/?post_type=member_posts&#038;p=8885',0,'member_posts','',0),(8886,1,'2017-01-07 06:35:50','2017-01-07 11:35:50','&nbsp;\r\n\r\n&nbsp;\r\n<ol>\r\n 	<li><strong>INTRODUCTION:</strong></li>\r\n</ol>\r\nWelcome 2017.\r\n\r\nWherever you are located, whether you celebrate the Christmas / New Year Holidays or not, I hope you had an enjoyable break.\r\n\r\nI re-opened my screens last week, traded a little, lost more money than I made, getting caught up in thin volume trading and got taken in and out of trades whilst asleep, oh what joy, happy days, it feels great to be back!\r\n\r\nMoving on…\r\n\r\nHopefully from next Monday onwards the markets will have a little more volume attached to them and it will business as usual. I ignored Non-Farm Payrolls and the like last week, I only managed existing trades. I am mentally and psychologically ready for next Monday 9<sup>th</sup> January.\r\n\r\nWhat’s new to mention, that will appear different this year in comparison to last year?\r\n<ol>\r\n 	<li>The “DRIVE THRU” blog format / structure is being amended over the next few weeks. There are some subtle changes already in place.\r\nOne of the benefits of your own blog is the fact you can write all sorts of stuff, you can choose what or who you write about and how you write about them or it.\r\nThis year I am launching “SCOTT’S SOAPBOX” (Section 5 on most blog formats). I will “have a go” in my own way at a multitude of subjects and FX personalities as the year progresses. There is NO shortage of topics or numpties to write about. I have a plethora of subjects ready to rock.</li>\r\n 	<li>Starting next Monday 9<sup>th</sup> January 2017 at 30PM EST – my long-awaited debut on PERISCOPE starts. The 30 minute or so broadcasts are through my twitter address @pipaccumulator\r\nI can be flexible on this time but this was the most popular, and I like it. From my perspective, it\'s a great time as it will be after the close of day one of a new week. We can look at price movements based upon the previous week’s weekly candle plus the last two daily candles.\r\nIn 2016 movements on daily candles were the foundation of the PREMIUM SERVICE success.\r\nAll I ask is cut me some slack for the first two or three weeks whilst I get comfortable with the process….!!</li>\r\n 	<li>During the holiday break, I have been asked by a few non-PREMIUM SERVICE subscribers to re-introduce the weekly training feature that was in my blog each week in 2013-2015.\r\nLast year I had thought about bringing this back, however, I have decided that this is a PREMIUM SERVICE (PLATINUM) subscriber benefit This will be available on a one-on-one basis through the PLATINUM subscriber review meeting.</li>\r\n</ol>\r\n<ol start=\"4\">\r\n 	<li>PREMIUM SERVICE subscription prices have been updated for 2017.</li>\r\n</ol>\r\nLet’s hope that we have a directional, easy to read liquid market with all currencies obeying trend lines, chart pattern measured moves, and it respects Fibonacci levels. Boring as that might be we would all make plenty of $$$ should that happen.\r\n\r\nMy thoughts are that the forex market will be a dysfunctional mess of Central Bank governors clutching at straws in attempts to explain the unexplainable. In addition, we will have the desk sucking, pen pushing, jotter blotters, who are mainly unelected officials (numpties) in places such as Brussels, forcing through their own interpretations of policies creating chaos and disorder in all markets. Not to forget cartels like OPEC who do not even control 100% of their market trying to influence price by defying the pure economics of supply and demand.\r\n\r\nIn summary; I see 2017 a bit of a 2016 replay.\r\n\r\nLet’s get at it….\r\n\r\n<strong> </strong>\r\n<ol start=\"2\">\r\n 	<li><strong> THE FX MARKET PLACE – LOOKING FORWARD:</strong></li>\r\n</ol>\r\n<strong><u>NOTE:</u></strong> This year, 2017, I am not going to look backwards in this section only forwards. News items / points of interest from the prior week will be covered in the introduction.\r\n\r\n<u>ECONOMIC DATA RELEASES:</u>\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/ECON-DATA-08012017.png\"><img class=\"aligncenter size-large wp-image-8873\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/ECON-DATA-08012017-935x1024.png\" alt=\"\" width=\"935\" height=\"1024\" /></a>\r\n\r\n&nbsp;\r\n\r\n<u>MY THOUGHTS ON THE WEEK AHEAD:</u>\r\n\r\nIt looks like a pretty light week on economic data this coming week.\r\n\r\nGiven the price action at the end of last week and the “TRUMP EFFECT” maybe being a little overdone to say the least, we could be in for a choppy period through to the “DONALD’S” inauguration.\r\n\r\nI think that the fact we have seen reactions from both the Chinese and Mexican Central Banks to the  “TWEET EFFECT” from the U.S. President Elect, we will have more of the same on the calendar moving forward. I think we must expect the unexpected, and, frankly given the fact that TWITTER appears to be preferred method of communication at the moment on U.S. policy moves and ideas, we should be on our toes moving through Q1 2017 or at least until things settle down to the TRUMP way of being President. On the positive side, we will know in 140 characters what he’s thinking about rather than having to wade through pages of padding. Dare I say it, the FED could adopt this approach, and, whilst I am at it so could many of the other Central Banks, especially those awfully nice chaps from the RNBZ.\r\n\r\nTherefore, looking ahead, I think that geopolitical news and the stock market will drive the currencies over the next week…. yikes!!\r\n\r\n&nbsp;\r\n\r\n<u> </u>\r\n\r\n<u>USD MAJORS – “IMMEDIATE” SUPPORT &amp; RESISTANCE with TREND:</u>\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/T-CHART-08012017.png\"><img class=\"aligncenter size-large wp-image-8872\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/T-CHART-08012017-1024x794.png\" alt=\"\" width=\"1024\" height=\"794\" /></a>\r\n\r\n&nbsp;\r\n\r\nMy trade charts for the USD majors are below. My thoughts, views and commentary is written on the charts.\r\n\r\nYou will find my charts, hopefully easy to follow. I only use Fibonacci levels, trend lines, confluence points and sometimes chart patterns to identify my high probability trades. If you have any difficulty understanding the points that I am trying to make, please do not hesitate to contract me.\r\n\r\nEUR/USD:\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/EURUSD-D-08012017.png\"><img class=\"aligncenter size-large wp-image-8879\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/EURUSD-D-08012017-1024x475.png\" alt=\"\" width=\"1024\" height=\"475\" /></a>\r\n\r\n&nbsp;\r\n\r\nGBP/USD:\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/GBPUSD-D-08012017.png\"><img class=\"aligncenter size-large wp-image-8880\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/GBPUSD-D-08012017-1024x475.png\" alt=\"\" width=\"1024\" height=\"475\" /></a>\r\n\r\n&nbsp;\r\n\r\nAUD/USD:\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/AUDUSD-D-08012017.png\"><img class=\"aligncenter size-large wp-image-8878\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/AUDUSD-D-08012017-1024x475.png\" alt=\"\" width=\"1024\" height=\"475\" /></a>\r\n\r\n&nbsp;\r\n\r\nNZD/USD:\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/NZDUSD-D-08012017.png\"><img class=\"aligncenter size-large wp-image-8881\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/NZDUSD-D-08012017-1024x475.png\" alt=\"\" width=\"1024\" height=\"475\" /></a>\r\n\r\n&nbsp;\r\n\r\nUSD/CAD:\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/USDCAD-D-08012017.png\"><img class=\"aligncenter size-large wp-image-8882\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/USDCAD-D-08012017-1024x475.png\" alt=\"\" width=\"1024\" height=\"475\" /></a>\r\n\r\n&nbsp;\r\n\r\nUSD/CHF:\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/USDCHF-240M-08012017.png\"><img class=\"aligncenter size-large wp-image-8883\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/USDCHF-240M-08012017-1024x475.png\" alt=\"\" width=\"1024\" height=\"475\" /></a>\r\n\r\n&nbsp;\r\n\r\nUSD/JPY:\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/USDJPY-D-08012017.png\"><img class=\"aligncenter size-large wp-image-8884\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/USDJPY-D-08012017-1024x475.png\" alt=\"\" width=\"1024\" height=\"475\" /></a>\r\n\r\n<strong>\r\n\r\n</strong>\r\n\r\n&nbsp;\r\n<ol start=\"3\">\r\n 	<li><strong>THE PREMIUM SERVICE:</strong><strong> </strong></li>\r\n</ol>\r\n<u>WHAT IS THE PREMIUM SERVICE:</u>\r\n\r\nThe PREMIUM SERVICE is a subscriber, fee based trade set-up option for Forex traders regardless of experience or background. I provide traders suggested trades, and some market commentary related to open trades or factors within the overall market that have my interest.\r\n\r\nFull details of the PREMIUM SERVICE and costs to subscribe plus the various trade styles and how suggested trade set-ups are communicated can be found on my website landing page at <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a> by selecting THE PREMIUM SERVICE tab.\r\n\r\nAdditional information can be found by clicking TESTIMONIALS, PART-TIME TRADERS and FX PROMOTIONS tabs. To subscribe to THE PREMIUM SERVICE, you will require a valid credit card.\r\n\r\n<strong> </strong>\r\n\r\n&nbsp;\r\n<ol start=\"4\">\r\n 	<li><strong>PREMIUM SERVICE – SUBSCRIBER CONTENT AREA:</strong></li>\r\n</ol>\r\n<u>TRADING REVIEW:</u>\r\n\r\nDabbling over the Christmas break was mixed. Some great pips just before Christmas Day and then between Christmas and New Year during thin Asian trading I got caught with two limit orders that triggered in and stopped out in a matter of minutes whilst I was asleep and another couple of trades also fell foul of the thin trading in the single currency… bugger.\r\n\r\nEarly New Year, I was trying to establish some core positions and fell foul of thinner trading volumes once again which created exaggerated moves.\r\n\r\nAll in all, I have a few pips to make up after booking some losses early on.\r\n\r\nI do think that the possibility exists that the USD may be in for a re-trace. I view this as good news and want to try and stick with my POSITION TRADES as fundamentally I am comfortable with my trading direction. I am more than happy to stick with wider stops on the POSITION TRADES based off the monthly Average True Range (ATR) levels when necessary.\r\n\r\n<u>MOVING FORWARD:</u>\r\n\r\nWe have the TRUMP inauguration to look forward to, followed by the fireworks, and I do not mean the ones that mostly go up into the sky.\r\n\r\nWe will endure a period of uncertainty and bold and brash statements as the TRUMP approach will be to turn the long-established log jams in Washington upside down and inside out. I fully expect him to name and shame those who block moves. It should be interesting as voters will be able to see if their elected representative is a mover or a blocker\r\n\r\nFrom a trading perspective, we will have uncertainty in these unchartered waters in the U.S.\r\n\r\nThe EUROZONE, frankly a bit laughable and there will be massive uncertainty for the next 6 months. I want to try to establish some longer term POSITION TRADES with the single currency and to some extent the USD/CHF as well, but a short-term flight to safety trade even with negative interest rates does concern me. Maybe I have some sort of vitamin deficiency or something, but I am not comfortable trading unless I have some CHF exposure to the short side (CHF).\r\n\r\nGiven what I have just written, and, the fact that I will be having to clear up some losses first, I am expecting a gradual 2017 build up.\r\n\r\nI am 100% focused for the year ahead, it will have its moments though.\r\n\r\n<u>CENTRAL BANK - INTEREST RATE DECISIONS 2017:</u>\r\n\r\nThe chart below details the dates (not all 100% confirmed), correct as at 1<sup>st</sup> January 2017, for Interest Rate decisions this year.\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/CB-INTEREST-RATES-2017.png\"><img class=\"aligncenter size-large wp-image-8874\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/CB-INTEREST-RATES-2017-810x1024.png\" alt=\"\" width=\"810\" height=\"1024\" /></a>\r\n\r\n&nbsp;\r\n\r\n<u>WEBINAR PRESENTATION:</u>\r\n\r\nSome of you may see some PREMIUM SERVICE advertising on social media offering a FREE FOREX WEBINAR. Yes; it is me with my scouse accent for 49 minutes and 23 seconds. I am going to let these webinars run for a good while initially and review content for Q2.\r\n\r\nThe purpose of the webinar is to seek out serious and committed Forex traders like yourself.\r\n\r\nUltimately, I will move periscope to YouTube and create a wider on-line presence… at least that is the objective this and next year.\r\n\r\n&nbsp;\r\n\r\n<u>BROKERS for 2017:</u>\r\n\r\nI have had to play with and alter around some of my brokers relationships. It does appear that Canada, not just Quebec, has decided to follow the U.S. with a Dodd /Frank style of approach, just as TRUMP is being sworn in and probably about to repeal most of the Dodd/Frank bureaucracy. (If only they were as diligent on consumer products that have false promises on the label!!).\r\n\r\nThe result of these changes is as follows: -\r\n<ol>\r\n 	<li>I have had to close a couple of 10 year relationships, which frankly is upsetting. Hopefully moving to Prince Edwards Island in April, I may be able to re-kindle relationships, who knows.</li>\r\n 	<li>BLACKWELL GLOBAL, FX PRO and AVATRADE have all gone by the wayside. My “LIVE” traders group with these brokers have now moved to VANTAGE FX based in Sydney, Australia.</li>\r\n 	<li>For now, until the dust settles only HANTEC MARKETS and VANTAGE FX remain as my recommended brokers.\r\n\r\nI commenced trading with two new brokers in the middle of last year, when it became apparent that changes were on the horizon. Hopefully once through an extensive testing period I will add more options once again.</li>\r\n</ol>\r\n<u> </u>\r\n\r\n<u>CORE TRADES:</u>\r\n<ol>\r\n 	<li>AUD/NZD: – Frustrating as it is I am still a believer. I will continue to add on pullbacks and lift off 50 -100 pip gains as they become available.</li>\r\n 	<li>I have also added the EUR/NZD to the NZD portfolio, but, I do not think that this will be a very long term addition. I expected a large move higher in this pair, for now we are trapped in a 150-pip trading range.</li>\r\n 	<li>NZD/USD: – I have started to build, and I will be adding again.\r\n\r\nThe RBNZ is in control, and in my opinion, this is one of the most overpriced currencies in the market at this moment in time. Central Bank divergence should play its part in having this currency revalue organically, but with most, if not all FX fundamentals, patience will be required.\r\n\r\nChina does concern me. I believe the GDT auctions will be more NZD negative this year as the China family birth control factors will kick in stronger.\r\n\r\nThe TRUMP factor on China may help my longer-term views?</li>\r\n 	<li>AUD/USD: - I allowed myself to be stopped out with this pair. I am looking for higher levels to re-stablish short positions once again.\r\n\r\nThe RBA is neutral. China worries me but TRUMP could cause waves on China with commodities and this could negatively affect the AUD.</li>\r\n 	<li>EUR/USD and USD/CHF: - Core positions now being established and I am looking to add more trades as the month progresses.\r\n\r\nAlways going to be looking to add, I think that for at least Q1 and Q2 the EUROZONE will remain under downside pressures. If BREXIT negotiations are difficult, which I believe they should be, the German desire for the ECB to raise rates could be seen for what it is, which is, in an election year pure and utter propaganda to win over the German savers who have been taken to the cleaners with zero savings interest rates for many years now and at all elections they are being fed a plate of empty promises.</li>\r\n</ol>\r\n&nbsp;\r\n\r\n<u>PERISCOPE:</u>\r\n\r\nI am starting Monday 9<sup>th</sup> January, 2017 at 5:30PM EST. This was time most favoured by those of you who responded to my request.\r\n\r\nLet’s see how I get on with the technology; the subject matter should be straightforward. I have a loose agenda prepared based upon the week ahead.\r\n\r\nAs promised if it is successful I will add a restricted version for you guys, I am assuming that this is possible to do.\r\n\r\n&nbsp;\r\n\r\n<strong> </strong>\r\n\r\n<u>PREMIUM SERVICE - TRADES REVIEW<strong>:</strong></u>\r\n\r\nCURRENT PREMIUM SERVICE - LIVE TRADES:\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/PS-LIVE-TRADES-08012017.png\"><img class=\"aligncenter size-large wp-image-8876\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/PS-LIVE-TRADES-08012017-785x1024.png\" alt=\"\" width=\"785\" height=\"1024\" /></a>\r\n\r\nCURRENT PREMIUM SERVICE – LIMIT ORDER TRADES:\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/PS-LIMIT-ORDERS-08012017.png\"><img class=\"aligncenter size-large wp-image-8875\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/PS-LIMIT-ORDERS-08012017-735x1024.png\" alt=\"\" width=\"735\" height=\"1024\" /></a>\r\n\r\n&nbsp;\r\n<ol start=\"5\">\r\n 	<li><strong>SCOTT’S SOAPBOX:</strong></li>\r\n</ol>\r\nIf you recall, in my final “DRIVE THRU” of 2016, I provided a list of TRADING PREDICTIONS for 2017. I basically named several geopolitical events that I feel will weigh on the markets this year. Therefore, for the first few weeks of 2017, I want to look at these events in a little more detail.\r\n\r\nAs you will be aware, so much has been said already on the subjects that I have highlighted, I can only add points and views that are my own, based upon how I see things and how I am going to view trading around these events.\r\n\r\n<strong> </strong>\r\n<p style=\"text-align: center;\"><strong>BREXIT – A LOT OF HOT AIR AND AS OF </strong><strong>“RIGHT NOW” … STILL NOTHING HAS HAPPENED</strong></p>\r\nAs we all know Forex is a future pricing mechanism. Since late June last year after the BREXIT referendum took place, we have all sat back and waited for the mass job losses, economic disaster, financial markets in chaos and general doom and gloom to have run a riot in the UK. It just has not happened. All the fear mongering from David Cameron (Prime Minister at the time) and George Osborne (Chancellor of the Exchequer at the time) was just that…. fear mongering based on zero facts. In fact, if the truth be told those who supported and campaigned for the BREXIT have been closer to the truth than they probably thought during the fierce campaigning that took place in the run up to the June vote.\r\n\r\nThe vote to leave the EU was a huge one and so far, bugger all has happened apart from Messrs. Cameron and Osborne resigning and Theresa May being voted in by the Tory government as the new Prime Minister. Article 50 from the Lisbon treaty has still to be triggered. Prime Minister May has signaled that this will done prior to the end of march 2017.\r\n\r\nAfter the vote came in there was huge uncertainty, the cable dropped like a lead balloon and the BOE under the guidance of the part-time JCB driver on forward guidance aka BOE governor Mark Carney took immediate steps to protect the cable by reducing interest rates to 0.25% and provided additional sterling support through further Quantitative Easing (QE) by an additional £70 billion ensuring competitiveness in business and continued low interest rates for consumers amongst other stabling factors.\r\n\r\nCan you remember his Presidential style walk along a c.300-meter corridor to arrive at his lectern to deliver his rate cutting announcement? That walk was so damn long his mother had given him a packed lunch to eat half way and when he arrived at the lectern he needed to move his watch an hour forward… talk about over dramatic, Holy Mother of God.\r\n\r\nSo, let me look at a few key areas the BRITS were told would feck up their lives if they voted to BREXIT and where are we right now:\r\n\r\n&nbsp;\r\n<ul>\r\n 	<li>THE ECONOMY:\r\n\r\nHuge negative impact and consumer confidence would be crapping the bed. The economy continues to grow. In the quarter following the BREXIT vote by 0.6%.\r\nRetail sales grew 5.9% year over year in November 2016. Inflation has risen to 1.2% in November up from 0.5% in June 2016.\r\nCPi is at 1.2% the highest since October 2014.\r\nHouse price inflation has continued to ease following the BREXIT. This is most apparent in the London area where the impact of BREXIT will be felt the most.\r\nConstruction is bullish despite the rise in raw material prices that are imported.\r\nThe trade gap widened then narrowed in October as exports rose considerably helped by a weaker cable.\r\nThe job front it is more muddled. Unemployment fell from June to October but has since cooled a little as the Financial Services sector uncertainty starts to weigh a little.</li>\r\n 	<li>THE CABLE (CURRENCY):\r\n\r\nAs expected with uncertainty and fueled by the BOE the GBP/USD exchange rate fell from 1.4700 to sub 1.2100 in the months that followed the BREXIT vote. Right now, I believe that cable is in a wide trading range of 1.2100 to 1.2800, see the chart below.\r\nThis move in currency, whilst it has helped exporters, has on the other side made foreign trips abroad for UK tourists more expensive and at the same time import prices for goods have also increased. Obviously, tourist numbers into the UK have increased significantly with a weaker cable.</li>\r\n 	<li>NEGOTIATIONS TO LEAVE THE EU:\r\n\r\nNothing formal yet. Basically, Prime Minister May was advised by EU leaders that the UK would NOT have it easy leaving the EU and it would NOT be allowed to cherry pick EU benefits that it would like to retain given its proximity to mainland Europe. In fact, EU leaders gave Prime Minister May what amounted to a European “Two finger” salute by saying feck off and until you trigger article 50 we are not talking to you.\r\nThe whole situation around article 50 is cloudy. David Davis who is Secretary of State for leaving the EU, hasn\'t even confirmed that he will lead the negotiating team. So, mismanaged is the BREXIT itself the highest-ranking UK official in Brussels Sir Ivan Rogers resigned only last week claiming it’s all a muddle!\r\nThe EU has announced that former French Foreign Minister Michel Barnier will head up to lead the negotiations on behalf of the European Commission. No favours here, technically the BRITS and FRENCH are still at war. There will be no “Entente Cordiale”.\r\nSo it’s all up to Prime Minister May to trigger article 50.</li>\r\n</ul>\r\nThe bottom line; nothing has happened yet.\r\n\r\nWhen the BREXIT vote came through, I must admit my initial thoughts were that the UK would see this process as time consuming, uncertain, pro-longed and expensive. I thought that the government would do what has previously happened in IRELAND and THE NETHERLANDS…have another vote!!\r\n\r\nI had convinced myself that after a few weeks the calls for a re vote because the initial vote was so close would prevail. I have since changed my thoughts.\r\n\r\nThe alleged two years to exit is in my opinion a bit of a dream. Greenland population c.56,000 people left the EU it took them 2 years to exit. With a population of 65 million the UK, is never going to exit in two years given how inter-twined it currently is with the EU. Greenland had a bit of a partnership and that took two years, the BRITS have a far more complex situation.\r\n\r\nThe EU must remain strong and ensure that no special deals are done otherwise there will be a CONTAGION EFFECT as other countries line up to do likewise. The populist vote as seen by BREXIT and then TRUMP is in the ascendancy. There are elections in France, The Netherlands and Germany this year and in all three cases the existing leadership is under a serious threat.\r\n\r\nIn fact, I would go so far as to say that the EU leaders have done nothing at all to stem the tide of the growth in the populist parties back in their own countries, if anything the fact they (as a group) failed to unite after the BREXIT has only fueled the populist parties.\r\n\r\nI have written many times over the past 5/6 years about the fact that main stream politicians are practically useless in using political courage to knock back the populist right. I firmly believe that this is having more than just a minimal effect on EU stability. It is being seen / viewed by voters as mainstream politicians being out of touch.\r\n\r\n&nbsp;\r\n\r\nMOVING FORWARD and TRADING:\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/GBPUSD-FOR-BLOG-SECT5-08012017.png\"><img class=\"aligncenter size-large wp-image-8877\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/GBPUSD-FOR-BLOG-SECT5-08012017-1024x475.png\" alt=\"\" width=\"1024\" height=\"475\" /></a>\r\n\r\nThe BRITS must trigger article 50 before the end of March 2017, failure to do so will have the cable and the single currency doing a merry dance, with the EUR/GBP not knowing whether it’s coming or going.\r\n\r\nWith elections on the horizon the EU will be under its own pressures should a far-right party establish a foothold. It just requires one country to vote out mainstream politics and then we have a domino effect, then a potential CONTAGION.\r\n\r\nThis year I expect the EUR to be under pressure, and it will not take much to see it slip through parity and target lower levels such as 0.9500. We are dangerously close resting around the 1.0500-1.0700 levels, a couple of days with moves lower and if sub 1.0300 is taken a test of parity is on the cards.\r\n\r\nThe cable is still in a bubble despite some sideways moves of late. We are however just range trading and frankly a difficult BREXIT negotiation, which I am certain it will be, will result in a move lower. This talk of SOFT BREXIT / HARD BREXIT, is in my opinion a load of bollocks. It will be tough for the reasons I have already outlined, so to me it’s always going to be a HARD BREXIT…. nothing less. Price wise with the GBP/USD a re-test of just below 1.2100 is there for the taking and frankly 1.1500 maybe even less, looks more than achievable when you think of what needs to be done and the time that this is going to take.\r\n\r\nThe GBP crosses all look vulnerable except for the EUR/GBP for the reasons outlined above regarding the single currency. All the previous lows with the GBP/AUD, GBP/CAD, GBP/CHF, GBP/JPY and GBP/NZD are there, in my opinion for the taking.\r\n\r\nWhen you think so much has been said, so much has been suggested, so many analysts have voiced opinions and so much has been rumoured by so many people and institutions yet to date, nothing serious has happened apart from the vote itself some 7 months ago!!\r\n\r\nI can guarantee you that I will be revisiting this subject more than a dozen times this year.\r\n\r\n<strong> </strong>\r\n<ol start=\"6\">\r\n 	<li><strong>CLOSING THOUGHTS:</strong></li>\r\n</ol>\r\nNothing more to add here, I have said enough except,\r\n\r\nAs usual…\r\n\r\nAlways remember longevity in Forex trading can only be achieved through trading with good RISK and MONEY MANAGEMENT, and above all set your position sizes in accordance with the size of your account and allow for some flexibility.\r\n\r\nTake care, have a great trading week.\r\n\r\nScott Pickering\r\nThe Pip Accumulator\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/disclaimer/\">http://weeklyfxdrivethru.com/disclaimer/</a>\r\n\r\nBLOG VERSION: #122 THE PREMIUM SERVICE\r\nDATE: 8<sup>th</sup> January 2017.<strong>\r\n\r\n</strong>','BREXIT – A LOT OF HOT AIR AND AS OF “RIGHT NOW” … STILL NOTHING HAS HAPPENED','','inherit','closed','closed','','8885-revision-v1','','','2017-01-07 06:35:50','2017-01-07 11:35:50','',8885,'http://weeklyfxdrivethru.com/8885-revision-v1/',0,'revision','',0),(9225,1,'2017-03-04 05:13:56','2017-03-04 10:13:56','','ECON DATA 05032017','','inherit','open','closed','','econ-data-05032017','','','2017-03-04 06:08:01','2017-03-04 11:08:01','',9242,'https://weeklyfxdrivethru.com/wp-content/uploads/2017/03/ECON-DATA-05032017.png',0,'attachment','image/png',0),(9226,1,'2017-03-04 05:14:21','2017-03-04 10:14:21','','TCHART 05032017','','inherit','open','closed','','tchart-05032017','','','2017-03-04 06:08:36','2017-03-04 11:08:36','',9242,'https://weeklyfxdrivethru.com/wp-content/uploads/2017/03/TCHART-05032017.png',0,'attachment','image/png',0),(9654,1,'2017-07-01 05:05:18','2017-07-01 10:05:18','','PREM SERVICE PROFITS2 JUNE 2017','','inherit','open','closed','','prem-service-profits2-june-2017','','','2017-07-01 05:06:30','2017-07-01 10:06:30','',5000,'https://weeklyfxdrivethru.com/wp-content/uploads/2017/07/PREM-SERVICE-PROFITS2-JUNE-2017.png',0,'attachment','image/png',0),(9211,1,'2017-02-28 16:36:41','2017-02-28 21:36:41','','RISK REWARD RATIONS 2014 YTD','','inherit','open','closed','','risk-reward-rations-2014-ytd-2','','','2017-02-28 16:36:41','2017-02-28 21:36:41','',0,'https://weeklyfxdrivethru.com/wp-content/uploads/2017/02/RISK-REWARD-RATIONS-2014-YTD.png',0,'attachment','image/png',0),(9485,1,'2017-05-13 15:54:04','2017-05-13 20:54:04','','ECON DATA 14052017','','inherit','open','closed','','econ-data-14052017','','','2017-05-14 12:20:19','2017-05-14 17:20:19','',9496,'https://weeklyfxdrivethru.com/wp-content/uploads/2017/05/ECON-DATA-14052017.png',0,'attachment','image/png',0),(9486,1,'2017-05-13 15:54:20','2017-05-13 20:54:20','','TCHART 14052017','','inherit','open','closed','','tchart-14052017','','','2017-05-14 12:20:58','2017-05-14 17:20:58','',9496,'https://weeklyfxdrivethru.com/wp-content/uploads/2017/05/TCHART-14052017.png',0,'attachment','image/png',0),(9489,1,'2017-05-13 15:55:04','2017-05-13 20:55:04','','AUDUSD DAILY 14052017','','inherit','open','closed','','audusd-daily-14052017','','','2017-05-14 12:21:43','2017-05-14 17:21:43','',9496,'https://weeklyfxdrivethru.com/wp-content/uploads/2017/05/AUDUSD-DAILY-14052017.png',0,'attachment','image/png',0),(8908,1,'2017-01-07 07:49:07','2017-01-07 12:49:07','&nbsp;\r\n\r\n&nbsp;\r\n<ol>\r\n 	<li><strong> INTRODUCTION:</strong></li>\r\n</ol>\r\nWelcome 2017.\r\n\r\nWherever you are located, whether you celebrate the Christmas / New Year Holidays or not, I hope you had an enjoyable break.\r\n\r\nI re-opened my screens last week, traded a little, lost more money than I made, getting caught up in thin volume trading and got taken in and out of trades whilst asleep, oh what joy, happy days, it feels great to be back!\r\n\r\nMoving on…\r\n\r\nHopefully from next Monday onwards the markets will have a little more volume attached to them and it will business as usual. I ignored Non-Farm Payrolls and the like last week, I only managed existing trades. I am mentally and psychologically ready for next Monday 9<sup>th</sup> January.\r\n\r\nWhat’s new to mention, that will appear different this year in comparison to last year?\r\n<ol>\r\n 	<li>The “DRIVE THRU” blog format / structure is being amended over the next few weeks. There are some subtle changes already in place.\r\nOne of the benefits of your own blog is the fact you can write all sorts of stuff, you can choose what or who you write about and how you write about them or it.\r\nThis year I am launching “SCOTT’S SOAPBOX” (Section 5 on most blog formats). I will “have a go” in my own way at a multitude of subjects and FX personalities as the year progresses. There is NO shortage of topics or numpties to write about. I have a plethora of subjects ready to rock.</li>\r\n 	<li>Starting next Monday 9<sup>th</sup> January 2017 at 30PM EST – my long-awaited debut on PERISCOPE starts. The 30 minute or so broadcasts are through my twitter address @pipaccumulator\r\nI can be flexible on this time but this was the most popular, and I like it. From my perspective, it\'s a great time as it will be after the close of day one of a new week. We can look at price movements based upon the previous week’s weekly candle plus the last two daily candles.\r\nIn 2016 movements on daily candles were the foundation of the PREMIUM SERVICE success.\r\nAll I ask is cut me some slack for the first two or three weeks whilst I get comfortable with the process….!!</li>\r\n 	<li>During the holiday break, I have been asked by a few non-PREMIUM SERVICE subscribers to re-introduce the weekly training feature that was in my blog each week in 2013-2015.\r\nLast year I had thought about bringing this back, however, I have decided that this is a PREMIUM SERVICE (PLATINUM) subscriber benefit This will be available on a one-on-one basis through the PLATINUM subscriber review meeting.</li>\r\n</ol>\r\n<ol start=\"4\">\r\n 	<li>PREMIUM SERVICE subscription prices have been updated for 2017.</li>\r\n</ol>\r\nLet’s hope that we have a directional, easy to read liquid market with all currencies obeying trend lines, chart pattern measured moves, and it respects Fibonacci levels. Boring as that might be we would all make plenty of $$$ should that happen.\r\n\r\nMy thoughts are that the forex market will be a dysfunctional mess of Central Bank governors clutching at straws in attempts to explain the unexplainable. In addition, we will have the desk sucking, pen pushing, jotter blotters, who are mainly unelected officials (numpties) in places such as Brussels, forcing through their own interpretations of policies creating chaos and disorder in all markets. Not to forget cartels like OPEC who do not even control 100% of their market trying to influence price by defying the pure economics of supply and demand.\r\n\r\nIn summary; I see 2017 a bit of a 2016 replay.\r\n\r\nLet’s get at it….\r\n\r\n<strong> </strong>\r\n<ol start=\"2\">\r\n 	<li><strong> THE FX MARKET PLACE – LOOKING FORWARD:</strong></li>\r\n</ol>\r\n<strong><u>NOTE:</u></strong> This year, 2017, I am not going to look backwards in this section only forwards. News items / points of interest from the prior week will be covered in the introduction.\r\n\r\n<u>ECONOMIC DATA RELEASES:</u>\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/ECON-DATA-08012017.png\"><img class=\"aligncenter size-large wp-image-8873\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/ECON-DATA-08012017-935x1024.png\" alt=\"\" width=\"935\" height=\"1024\" /></a>\r\n\r\n&nbsp;\r\n\r\n<u>MY THOUGHTS ON THE WEEK AHEAD:</u>\r\n\r\nIt looks like a pretty light week on economic data this coming week.\r\n\r\nGiven the price action at the end of last week and the “TRUMP EFFECT” maybe being a little overdone to say the least, we could be in for a choppy period through to the “DONALD’S” inauguration.\r\n\r\nI think that the fact we have seen reactions from both the Chinese and Mexican Central Banks to the  “TWEET EFFECT” from the U.S. President Elect, we will have more of the same on the calendar moving forward. I think we must expect the unexpected, and, frankly given the fact that TWITTER appears to be preferred method of communication at the moment on U.S. policy moves and ideas, we should be on our toes moving through Q1 2017 or at least until things settle down to the TRUMP way of being President. On the positive side, we will know in 140 characters what he’s thinking about rather than having to wade through pages of padding. Dare I say it, the FED could adopt this approach, and, whilst I am at it so could many of the other Central Banks, especially those awfully nice chaps from the RNBZ.\r\n\r\nTherefore, looking ahead, I think that geopolitical news and the stock market will drive the currencies over the next week…. yikes!!\r\n\r\n&nbsp;\r\n\r\n<u> </u>\r\n\r\n<u>USD MAJORS – “IMMEDIATE” SUPPORT &amp; RESISTANCE with TREND:</u>\r\n\r\n&nbsp;\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/T-CHART-08012017.png\"><img class=\"aligncenter size-large wp-image-8872\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/T-CHART-08012017-1024x794.png\" alt=\"\" width=\"1024\" height=\"794\" /></a>\r\n\r\n&nbsp;\r\n\r\nMy trade charts for the USD majors are below. My thoughts, views and commentary is written on the charts.\r\n\r\nYou will find my charts, hopefully easy to follow. I only use Fibonacci levels, trend lines, confluence points and sometimes chart patterns to identify my high probability trades. If you have any difficulty understanding the points that I am trying to make, please do not hesitate to contract me.\r\n\r\nEUR/USD:\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/EURUSD-D-08012017.png\"><img class=\"aligncenter size-large wp-image-8879\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/EURUSD-D-08012017-1024x475.png\" alt=\"\" width=\"1024\" height=\"475\" /></a>\r\n\r\n&nbsp;\r\n\r\nGBP/USD:\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/GBPUSD-D-08012017.png\"><img class=\"aligncenter size-large wp-image-8880\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/GBPUSD-D-08012017-1024x475.png\" alt=\"\" width=\"1024\" height=\"475\" /></a>\r\n\r\n&nbsp;\r\n\r\nAUD/USD:\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/AUDUSD-D-08012017.png\"><img class=\"aligncenter size-large wp-image-8878\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/AUDUSD-D-08012017-1024x475.png\" alt=\"\" width=\"1024\" height=\"475\" /></a>\r\n\r\n&nbsp;\r\n\r\nNZD/USD:\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/NZDUSD-D-08012017.png\"><img class=\"aligncenter size-large wp-image-8881\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/NZDUSD-D-08012017-1024x475.png\" alt=\"\" width=\"1024\" height=\"475\" /></a>\r\n\r\n&nbsp;\r\n\r\nUSD/CAD:\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/USDCAD-D-08012017.png\"><img class=\"aligncenter size-large wp-image-8882\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/USDCAD-D-08012017-1024x475.png\" alt=\"\" width=\"1024\" height=\"475\" /></a>\r\n\r\n&nbsp;\r\n\r\nUSD/CHF:\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/USDCHF-240M-08012017.png\"><img class=\"aligncenter size-large wp-image-8883\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/USDCHF-240M-08012017-1024x475.png\" alt=\"\" width=\"1024\" height=\"475\" /></a>\r\n\r\n&nbsp;\r\n\r\nUSD/JPY:\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/USDJPY-D-08012017.png\"><img class=\"aligncenter size-large wp-image-8884\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/USDJPY-D-08012017-1024x475.png\" alt=\"\" width=\"1024\" height=\"475\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n<ol start=\"3\">\r\n 	<li><strong>THE PREMIUM SERVICE:</strong></li>\r\n</ol>\r\n<u>WHAT IS THE PREMIUM SERVICE:</u>\r\n\r\nThe PREMIUM SERVICE is a subscriber, fee based trade set-up option for Forex traders regardless of experience or background. I provide traders suggested trades, and some market commentary related to open trades or factors within the overall market that have my interest.\r\n\r\nFull details of the PREMIUM SERVICE and costs to subscribe plus the various trade styles and how suggested trade set-ups are communicated can be found on my website landing page at <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a> by selecting THE PREMIUM SERVICE tab.\r\n\r\nAdditional information can be found by clicking TESTIMONIALS, PART-TIME TRADERS and FX PROMOTIONS tabs. To subscribe to THE PREMIUM SERVICE, you will require a valid credit card.\r\n\r\n<strong> </strong>\r\n<ol start=\"4\">\r\n 	<li><strong> PREMIUM SERVICE – SUBSCRIBER CONTENT AREA:</strong></li>\r\n</ol>\r\n&nbsp;\r\n<ol start=\"5\">\r\n 	<li><strong>SCOTT’S SOAPBOX:</strong></li>\r\n</ol>\r\nIf you recall, in my final “DRIVE THRU” of 2016, I provided a list of TRADING PREDICTIONS for 2017. I basically named several geopolitical events that I feel will weigh on the markets this year. Therefore, for the first few weeks of 2017, I want to look at these events in a little more detail.\r\n\r\nAs you will be aware, so much has been said already on the subjects that I have highlighted, I can only add points and views that are my own, based upon how I see things and how I am going to view trading around these events.<strong>\r\n</strong>\r\n<p style=\"text-align: center;\"><strong>BREXIT – A LOT OF HOT AIR AND AS OF </strong><strong>“RIGHT NOW” … STILL NOTHING HAS HAPPENED</strong></p>\r\nAs we all know Forex is a future pricing mechanism. Since late June last year after the BREXIT referendum took place, we have all sat back and waited for the mass job losses, economic disaster, financial markets in chaos and general doom and gloom to have run a riot in the UK. It just has not happened. All the fear mongering from David Cameron (Prime Minister at the time) and George Osborne (Chancellor of the Exchequer at the time) was just that…. fear mongering based on zero facts. In fact, if the truth be told those who supported and campaigned for the BREXIT have been closer to the truth than they probably thought during the fierce campaigning that took place in the run up to the June vote.\r\n\r\nThe vote to leave the EU was a huge one and so far, bugger all has happened apart from Messrs. Cameron and Osborne resigning and Theresa May being voted in by the Tory government as the new Prime Minister. Article 50 from the Lisbon treaty has still to be triggered. Prime Minister May has signaled that this will done prior to the end of march 2017.\r\n\r\nAfter the vote came in there was huge uncertainty, the cable dropped like a lead balloon and the BOE under the guidance of the part-time JCB driver on forward guidance aka BOE governor Mark Carney took immediate steps to protect the cable by reducing interest rates to 0.25% and provided additional sterling support through further Quantitative Easing (QE) by an additional £70 billion ensuring competitiveness in business and continued low interest rates for consumers amongst other stabling factors.\r\n\r\nCan you remember his Presidential style walk along a c.300-meter corridor to arrive at his lectern to deliver his rate cutting announcement? That walk was so damn long his mother had given him a packed lunch to eat half way and when he arrived at the lectern he needed to move his watch an hour forward… talk about over dramatic, Holy Mother of God.\r\n\r\nSo, let me look at a few key areas the BRITS were told would feck up their lives if they voted to BREXIT and where are we right now:\r\n<ul>\r\n 	<li>THE ECONOMY:Huge negative impact and consumer confidence would be crapping the bed. The economy continues to grow. In the quarter following the BREXIT vote by 0.6%.\r\nRetail sales grew 5.9% year over year in November 2016. Inflation has risen to 1.2% in November up from 0.5% in June 2016.\r\nCPi is at 1.2% the highest since October 2014.\r\nHouse price inflation has continued to ease following the BREXIT. This is most apparent in the London area where the impact of BREXIT will be felt the most.\r\nConstruction is bullish despite the rise in raw material prices that are imported.\r\nThe trade gap widened then narrowed in October as exports rose considerably helped by a weaker cable.\r\nThe job front it is more muddled. Unemployment fell from June to October but has since cooled a little as the Financial Services sector uncertainty starts to weigh a little.</li>\r\n 	<li>THE CABLE (CURRENCY):As expected with uncertainty and fueled by the BOE the GBP/USD exchange rate fell from 1.4700 to sub 1.2100 in the months that followed the BREXIT vote. Right now, I believe that cable is in a wide trading range of 1.2100 to 1.2800, see the chart below.\r\nThis move in currency, whilst it has helped exporters, has on the other side made foreign trips abroad for UK tourists more expensive and at the same time import prices for goods have also increased. Obviously, tourist numbers into the UK have increased significantly with a weaker cable.</li>\r\n 	<li>NEGOTIATIONS TO LEAVE THE EU:Nothing formal yet. Basically, Prime Minister May was advised by EU leaders that the UK would NOT have it easy leaving the EU and it would NOT be allowed to cherry pick EU benefits that it would like to retain given its proximity to mainland Europe. In fact, EU leaders gave Prime Minister May what amounted to a European “Two finger” salute by saying feck off and until you trigger article 50 we are not talking to you.\r\nThe whole situation around article 50 is cloudy. David Davis who is Secretary of State for leaving the EU, hasn\'t even confirmed that he will lead the negotiating team. So, mismanaged is the BREXIT itself the highest-ranking UK official in Brussels Sir Ivan Rogers resigned only last week claiming it’s all a muddle!\r\nThe EU has announced that former French Foreign Minister Michel Barnier will head up to lead the negotiations on behalf of the European Commission. No favours here, technically the BRITS and FRENCH are still at war. There will be no “Entente Cordiale”.\r\nSo it’s all up to Prime Minister May to trigger article 50.</li>\r\n</ul>\r\nThe bottom line; nothing has happened yet.\r\n\r\nWhen the BREXIT vote came through, I must admit my initial thoughts were that the UK would see this process as time consuming, uncertain, pro-longed and expensive. I thought that the government would do what has previously happened in IRELAND and THE NETHERLANDS…have another vote!!\r\n\r\nI had convinced myself that after a few weeks the calls for a re vote because the initial vote was so close would prevail. I have since changed my thoughts.\r\n\r\nThe alleged two years to exit is in my opinion a bit of a dream. Greenland population c.56,000 people left the EU it took them 2 years to exit. With a population of 65 million the UK, is never going to exit in two years given how inter-twined it currently is with the EU. Greenland had a bit of a partnership and that took two years, the BRITS have a far more complex situation.\r\n\r\nThe EU must remain strong and ensure that no special deals are done otherwise there will be a CONTAGION EFFECT as other countries line up to do likewise. The populist vote as seen by BREXIT and then TRUMP is in the ascendancy. There are elections in France, The Netherlands and Germany this year and in all three cases the existing leadership is under a serious threat.\r\n\r\nIn fact, I would go so far as to say that the EU leaders have done nothing at all to stem the tide of the growth in the populist parties back in their own countries, if anything the fact they (as a group) failed to unite after the BREXIT has only fueled the populist parties.\r\n\r\nI have written many times over the past 5/6 years about the fact that main stream politicians are practically useless in using political courage to knock back the populist right. I firmly believe that this is having more than just a minimal effect on EU stability. It is being seen / viewed by voters as mainstream politicians being out of touch.\r\n\r\n&nbsp;\r\n\r\nMOVING FORWARD and TRADING:\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/GBPUSD-FOR-BLOG-SECT5-08012017.png\"><img class=\"aligncenter size-large wp-image-8877\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/GBPUSD-FOR-BLOG-SECT5-08012017-1024x475.png\" alt=\"\" width=\"1024\" height=\"475\" /></a>\r\n\r\nThe BRITS must trigger article 50 before the end of March 2017, failure to do so will have the cable and the single currency doing a merry dance, with the EUR/GBP not knowing whether it’s coming or going.\r\n\r\nWith elections on the horizon the EU will be under its own pressures should a far-right party establish a foothold. It just requires one country to vote out mainstream politics and then we have a domino effect, then a potential CONTAGION.\r\n\r\nThis year I expect the EUR to be under pressure, and it will not take much to see it slip through parity and target lower levels such as 0.9500. We are dangerously close resting around the 1.0500-1.0700 levels, a couple of days with moves lower and if sub 1.0300 is taken a test of parity is on the cards.\r\n\r\nThe cable is still in a bubble despite some sideways moves of late. We are however just range trading and frankly a difficult BREXIT negotiation, which I am certain it will be, will result in a move lower. This talk of SOFT BREXIT / HARD BREXIT, is in my opinion a load of bollocks. It will be tough for the reasons I have already outlined, so to me it’s always going to be a HARD BREXIT…. nothing less. Price wise with the GBP/USD a re-test of just below 1.2100 is there for the taking and frankly 1.1500 maybe even less, looks more than achievable when you think of what needs to be done and the time that this is going to take.\r\n\r\nThe GBP crosses all look vulnerable except for the EUR/GBP for the reasons outlined above regarding the single currency. All the previous lows with the GBP/AUD, GBP/CAD, GBP/CHF, GBP/JPY and GBP/NZD are there, in my opinion for the taking.\r\n\r\nWhen you think so much has been said, so much has been suggested, so many analysts have voiced opinions and so much has been rumoured by so many people and institutions yet to date, nothing serious has happened apart from the vote itself some 7 months ago!!\r\n\r\nI can guarantee you that I will be revisiting this subject more than a dozen times this year.\r\n\r\n<strong> </strong>\r\n<ol start=\"6\">\r\n 	<li><strong>CLOSING THOUGHTS:</strong></li>\r\n</ol>\r\nNothing more to add here, I have said enough except,\r\n\r\nAs usual…\r\n\r\nAlways remember longevity in Forex trading can only be achieved through trading with good RISK and MONEY MANAGEMENT, and above all set your position sizes in accordance with the size of your account and allow for some flexibility.\r\n\r\nTake care, have a great trading week.\r\n\r\nScott Pickering\r\nThe Pip Accumulator\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/disclaimer/\">http://weeklyfxdrivethru.com/disclaimer/</a>\r\n\r\nBLOG VERSION: #226 FREE NEWSLETTER\r\nDATE: 8<sup>th</sup> January 2017.\r\n\r\n&nbsp;','BREXIT – A LOT OF HOT AIR AND AS OF “RIGHT NOW” … STILL NOTHING HAS HAPPENED','','publish','open','closed','','brexit-lot-hot-air-right-now-still-nothing-happened','','','2017-01-07 07:49:07','2017-01-07 12:49:07','',0,'http://weeklyfxdrivethru.com/?p=8908',0,'post','',0),(8909,1,'2017-01-07 07:49:07','2017-01-07 12:49:07','&nbsp;\r\n\r\n&nbsp;\r\n<ol>\r\n 	<li><strong> INTRODUCTION:</strong></li>\r\n</ol>\r\nWelcome 2017.\r\n\r\nWherever you are located, whether you celebrate the Christmas / New Year Holidays or not, I hope you had an enjoyable break.\r\n\r\nI re-opened my screens last week, traded a little, lost more money than I made, getting caught up in thin volume trading and got taken in and out of trades whilst asleep, oh what joy, happy days, it feels great to be back!\r\n\r\nMoving on…\r\n\r\nHopefully from next Monday onwards the markets will have a little more volume attached to them and it will business as usual. I ignored Non-Farm Payrolls and the like last week, I only managed existing trades. I am mentally and psychologically ready for next Monday 9<sup>th</sup> January.\r\n\r\nWhat’s new to mention, that will appear different this year in comparison to last year?\r\n<ol>\r\n 	<li>The “DRIVE THRU” blog format / structure is being amended over the next few weeks. There are some subtle changes already in place.\r\nOne of the benefits of your own blog is the fact you can write all sorts of stuff, you can choose what or who you write about and how you write about them or it.\r\nThis year I am launching “SCOTT’S SOAPBOX” (Section 5 on most blog formats). I will “have a go” in my own way at a multitude of subjects and FX personalities as the year progresses. There is NO shortage of topics or numpties to write about. I have a plethora of subjects ready to rock.</li>\r\n 	<li>Starting next Monday 9<sup>th</sup> January 2017 at 30PM EST – my long-awaited debut on PERISCOPE starts. The 30 minute or so broadcasts are through my twitter address @pipaccumulator\r\nI can be flexible on this time but this was the most popular, and I like it. From my perspective, it\'s a great time as it will be after the close of day one of a new week. We can look at price movements based upon the previous week’s weekly candle plus the last two daily candles.\r\nIn 2016 movements on daily candles were the foundation of the PREMIUM SERVICE success.\r\nAll I ask is cut me some slack for the first two or three weeks whilst I get comfortable with the process….!!</li>\r\n 	<li>During the holiday break, I have been asked by a few non-PREMIUM SERVICE subscribers to re-introduce the weekly training feature that was in my blog each week in 2013-2015.\r\nLast year I had thought about bringing this back, however, I have decided that this is a PREMIUM SERVICE (PLATINUM) subscriber benefit This will be available on a one-on-one basis through the PLATINUM subscriber review meeting.</li>\r\n</ol>\r\n<ol start=\"4\">\r\n 	<li>PREMIUM SERVICE subscription prices have been updated for 2017.</li>\r\n</ol>\r\nLet’s hope that we have a directional, easy to read liquid market with all currencies obeying trend lines, chart pattern measured moves, and it respects Fibonacci levels. Boring as that might be we would all make plenty of $$$ should that happen.\r\n\r\nMy thoughts are that the forex market will be a dysfunctional mess of Central Bank governors clutching at straws in attempts to explain the unexplainable. In addition, we will have the desk sucking, pen pushing, jotter blotters, who are mainly unelected officials (numpties) in places such as Brussels, forcing through their own interpretations of policies creating chaos and disorder in all markets. Not to forget cartels like OPEC who do not even control 100% of their market trying to influence price by defying the pure economics of supply and demand.\r\n\r\nIn summary; I see 2017 a bit of a 2016 replay.\r\n\r\nLet’s get at it….\r\n\r\n<strong> </strong>\r\n<ol start=\"2\">\r\n 	<li><strong> THE FX MARKET PLACE – LOOKING FORWARD:</strong></li>\r\n</ol>\r\n<strong><u>NOTE:</u></strong> This year, 2017, I am not going to look backwards in this section only forwards. News items / points of interest from the prior week will be covered in the introduction.\r\n\r\n<u>ECONOMIC DATA RELEASES:</u>\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/ECON-DATA-08012017.png\"><img class=\"aligncenter size-large wp-image-8873\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/ECON-DATA-08012017-935x1024.png\" alt=\"\" width=\"935\" height=\"1024\" /></a>\r\n\r\n&nbsp;\r\n\r\n<u>MY THOUGHTS ON THE WEEK AHEAD:</u>\r\n\r\nIt looks like a pretty light week on economic data this coming week.\r\n\r\nGiven the price action at the end of last week and the “TRUMP EFFECT” maybe being a little overdone to say the least, we could be in for a choppy period through to the “DONALD’S” inauguration.\r\n\r\nI think that the fact we have seen reactions from both the Chinese and Mexican Central Banks to the  “TWEET EFFECT” from the U.S. President Elect, we will have more of the same on the calendar moving forward. I think we must expect the unexpected, and, frankly given the fact that TWITTER appears to be preferred method of communication at the moment on U.S. policy moves and ideas, we should be on our toes moving through Q1 2017 or at least until things settle down to the TRUMP way of being President. On the positive side, we will know in 140 characters what he’s thinking about rather than having to wade through pages of padding. Dare I say it, the FED could adopt this approach, and, whilst I am at it so could many of the other Central Banks, especially those awfully nice chaps from the RNBZ.\r\n\r\nTherefore, looking ahead, I think that geopolitical news and the stock market will drive the currencies over the next week…. yikes!!\r\n\r\n&nbsp;\r\n\r\n<u> </u>\r\n\r\n<u>USD MAJORS – “IMMEDIATE” SUPPORT &amp; RESISTANCE with TREND:</u>\r\n\r\n&nbsp;\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/T-CHART-08012017.png\"><img class=\"aligncenter size-large wp-image-8872\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/T-CHART-08012017-1024x794.png\" alt=\"\" width=\"1024\" height=\"794\" /></a>\r\n\r\n&nbsp;\r\n\r\nMy trade charts for the USD majors are below. My thoughts, views and commentary is written on the charts.\r\n\r\nYou will find my charts, hopefully easy to follow. I only use Fibonacci levels, trend lines, confluence points and sometimes chart patterns to identify my high probability trades. If you have any difficulty understanding the points that I am trying to make, please do not hesitate to contract me.\r\n\r\nEUR/USD:\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/EURUSD-D-08012017.png\"><img class=\"aligncenter size-large wp-image-8879\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/EURUSD-D-08012017-1024x475.png\" alt=\"\" width=\"1024\" height=\"475\" /></a>\r\n\r\n&nbsp;\r\n\r\nGBP/USD:\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/GBPUSD-D-08012017.png\"><img class=\"aligncenter size-large wp-image-8880\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/GBPUSD-D-08012017-1024x475.png\" alt=\"\" width=\"1024\" height=\"475\" /></a>\r\n\r\n&nbsp;\r\n\r\nAUD/USD:\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/AUDUSD-D-08012017.png\"><img class=\"aligncenter size-large wp-image-8878\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/AUDUSD-D-08012017-1024x475.png\" alt=\"\" width=\"1024\" height=\"475\" /></a>\r\n\r\n&nbsp;\r\n\r\nNZD/USD:\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/NZDUSD-D-08012017.png\"><img class=\"aligncenter size-large wp-image-8881\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/NZDUSD-D-08012017-1024x475.png\" alt=\"\" width=\"1024\" height=\"475\" /></a>\r\n\r\n&nbsp;\r\n\r\nUSD/CAD:\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/USDCAD-D-08012017.png\"><img class=\"aligncenter size-large wp-image-8882\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/USDCAD-D-08012017-1024x475.png\" alt=\"\" width=\"1024\" height=\"475\" /></a>\r\n\r\n&nbsp;\r\n\r\nUSD/CHF:\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/USDCHF-240M-08012017.png\"><img class=\"aligncenter size-large wp-image-8883\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/USDCHF-240M-08012017-1024x475.png\" alt=\"\" width=\"1024\" height=\"475\" /></a>\r\n\r\n&nbsp;\r\n\r\nUSD/JPY:\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/USDJPY-D-08012017.png\"><img class=\"aligncenter size-large wp-image-8884\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/USDJPY-D-08012017-1024x475.png\" alt=\"\" width=\"1024\" height=\"475\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n<ol start=\"3\">\r\n 	<li><strong>THE PREMIUM SERVICE:</strong></li>\r\n</ol>\r\n<u>WHAT IS THE PREMIUM SERVICE:</u>\r\n\r\nThe PREMIUM SERVICE is a subscriber, fee based trade set-up option for Forex traders regardless of experience or background. I provide traders suggested trades, and some market commentary related to open trades or factors within the overall market that have my interest.\r\n\r\nFull details of the PREMIUM SERVICE and costs to subscribe plus the various trade styles and how suggested trade set-ups are communicated can be found on my website landing page at <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a> by selecting THE PREMIUM SERVICE tab.\r\n\r\nAdditional information can be found by clicking TESTIMONIALS, PART-TIME TRADERS and FX PROMOTIONS tabs. To subscribe to THE PREMIUM SERVICE, you will require a valid credit card.\r\n\r\n<strong> </strong>\r\n<ol start=\"4\">\r\n 	<li><strong> PREMIUM SERVICE – SUBSCRIBER CONTENT AREA:</strong></li>\r\n</ol>\r\n&nbsp;\r\n<ol start=\"5\">\r\n 	<li><strong>SCOTT’S SOAPBOX:</strong></li>\r\n</ol>\r\nIf you recall, in my final “DRIVE THRU” of 2016, I provided a list of TRADING PREDICTIONS for 2017. I basically named several geopolitical events that I feel will weigh on the markets this year. Therefore, for the first few weeks of 2017, I want to look at these events in a little more detail.\r\n\r\nAs you will be aware, so much has been said already on the subjects that I have highlighted, I can only add points and views that are my own, based upon how I see things and how I am going to view trading around these events.<strong>\r\n</strong>\r\n<p style=\"text-align: center;\"><strong>BREXIT – A LOT OF HOT AIR AND AS OF </strong><strong>“RIGHT NOW” … STILL NOTHING HAS HAPPENED</strong></p>\r\nAs we all know Forex is a future pricing mechanism. Since late June last year after the BREXIT referendum took place, we have all sat back and waited for the mass job losses, economic disaster, financial markets in chaos and general doom and gloom to have run a riot in the UK. It just has not happened. All the fear mongering from David Cameron (Prime Minister at the time) and George Osborne (Chancellor of the Exchequer at the time) was just that…. fear mongering based on zero facts. In fact, if the truth be told those who supported and campaigned for the BREXIT have been closer to the truth than they probably thought during the fierce campaigning that took place in the run up to the June vote.\r\n\r\nThe vote to leave the EU was a huge one and so far, bugger all has happened apart from Messrs. Cameron and Osborne resigning and Theresa May being voted in by the Tory government as the new Prime Minister. Article 50 from the Lisbon treaty has still to be triggered. Prime Minister May has signaled that this will done prior to the end of march 2017.\r\n\r\nAfter the vote came in there was huge uncertainty, the cable dropped like a lead balloon and the BOE under the guidance of the part-time JCB driver on forward guidance aka BOE governor Mark Carney took immediate steps to protect the cable by reducing interest rates to 0.25% and provided additional sterling support through further Quantitative Easing (QE) by an additional £70 billion ensuring competitiveness in business and continued low interest rates for consumers amongst other stabling factors.\r\n\r\nCan you remember his Presidential style walk along a c.300-meter corridor to arrive at his lectern to deliver his rate cutting announcement? That walk was so damn long his mother had given him a packed lunch to eat half way and when he arrived at the lectern he needed to move his watch an hour forward… talk about over dramatic, Holy Mother of God.\r\n\r\nSo, let me look at a few key areas the BRITS were told would feck up their lives if they voted to BREXIT and where are we right now:\r\n<ul>\r\n 	<li>THE ECONOMY:Huge negative impact and consumer confidence would be crapping the bed. The economy continues to grow. In the quarter following the BREXIT vote by 0.6%.\r\nRetail sales grew 5.9% year over year in November 2016. Inflation has risen to 1.2% in November up from 0.5% in June 2016.\r\nCPi is at 1.2% the highest since October 2014.\r\nHouse price inflation has continued to ease following the BREXIT. This is most apparent in the London area where the impact of BREXIT will be felt the most.\r\nConstruction is bullish despite the rise in raw material prices that are imported.\r\nThe trade gap widened then narrowed in October as exports rose considerably helped by a weaker cable.\r\nThe job front it is more muddled. Unemployment fell from June to October but has since cooled a little as the Financial Services sector uncertainty starts to weigh a little.</li>\r\n 	<li>THE CABLE (CURRENCY):As expected with uncertainty and fueled by the BOE the GBP/USD exchange rate fell from 1.4700 to sub 1.2100 in the months that followed the BREXIT vote. Right now, I believe that cable is in a wide trading range of 1.2100 to 1.2800, see the chart below.\r\nThis move in currency, whilst it has helped exporters, has on the other side made foreign trips abroad for UK tourists more expensive and at the same time import prices for goods have also increased. Obviously, tourist numbers into the UK have increased significantly with a weaker cable.</li>\r\n 	<li>NEGOTIATIONS TO LEAVE THE EU:Nothing formal yet. Basically, Prime Minister May was advised by EU leaders that the UK would NOT have it easy leaving the EU and it would NOT be allowed to cherry pick EU benefits that it would like to retain given its proximity to mainland Europe. In fact, EU leaders gave Prime Minister May what amounted to a European “Two finger” salute by saying feck off and until you trigger article 50 we are not talking to you.\r\nThe whole situation around article 50 is cloudy. David Davis who is Secretary of State for leaving the EU, hasn\'t even confirmed that he will lead the negotiating team. So, mismanaged is the BREXIT itself the highest-ranking UK official in Brussels Sir Ivan Rogers resigned only last week claiming it’s all a muddle!\r\nThe EU has announced that former French Foreign Minister Michel Barnier will head up to lead the negotiations on behalf of the European Commission. No favours here, technically the BRITS and FRENCH are still at war. There will be no “Entente Cordiale”.\r\nSo it’s all up to Prime Minister May to trigger article 50.</li>\r\n</ul>\r\nThe bottom line; nothing has happened yet.\r\n\r\nWhen the BREXIT vote came through, I must admit my initial thoughts were that the UK would see this process as time consuming, uncertain, pro-longed and expensive. I thought that the government would do what has previously happened in IRELAND and THE NETHERLANDS…have another vote!!\r\n\r\nI had convinced myself that after a few weeks the calls for a re vote because the initial vote was so close would prevail. I have since changed my thoughts.\r\n\r\nThe alleged two years to exit is in my opinion a bit of a dream. Greenland population c.56,000 people left the EU it took them 2 years to exit. With a population of 65 million the UK, is never going to exit in two years given how inter-twined it currently is with the EU. Greenland had a bit of a partnership and that took two years, the BRITS have a far more complex situation.\r\n\r\nThe EU must remain strong and ensure that no special deals are done otherwise there will be a CONTAGION EFFECT as other countries line up to do likewise. The populist vote as seen by BREXIT and then TRUMP is in the ascendancy. There are elections in France, The Netherlands and Germany this year and in all three cases the existing leadership is under a serious threat.\r\n\r\nIn fact, I would go so far as to say that the EU leaders have done nothing at all to stem the tide of the growth in the populist parties back in their own countries, if anything the fact they (as a group) failed to unite after the BREXIT has only fueled the populist parties.\r\n\r\nI have written many times over the past 5/6 years about the fact that main stream politicians are practically useless in using political courage to knock back the populist right. I firmly believe that this is having more than just a minimal effect on EU stability. It is being seen / viewed by voters as mainstream politicians being out of touch.\r\n\r\n&nbsp;\r\n\r\nMOVING FORWARD and TRADING:\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/GBPUSD-FOR-BLOG-SECT5-08012017.png\"><img class=\"aligncenter size-large wp-image-8877\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/GBPUSD-FOR-BLOG-SECT5-08012017-1024x475.png\" alt=\"\" width=\"1024\" height=\"475\" /></a>\r\n\r\nThe BRITS must trigger article 50 before the end of March 2017, failure to do so will have the cable and the single currency doing a merry dance, with the EUR/GBP not knowing whether it’s coming or going.\r\n\r\nWith elections on the horizon the EU will be under its own pressures should a far-right party establish a foothold. It just requires one country to vote out mainstream politics and then we have a domino effect, then a potential CONTAGION.\r\n\r\nThis year I expect the EUR to be under pressure, and it will not take much to see it slip through parity and target lower levels such as 0.9500. We are dangerously close resting around the 1.0500-1.0700 levels, a couple of days with moves lower and if sub 1.0300 is taken a test of parity is on the cards.\r\n\r\nThe cable is still in a bubble despite some sideways moves of late. We are however just range trading and frankly a difficult BREXIT negotiation, which I am certain it will be, will result in a move lower. This talk of SOFT BREXIT / HARD BREXIT, is in my opinion a load of bollocks. It will be tough for the reasons I have already outlined, so to me it’s always going to be a HARD BREXIT…. nothing less. Price wise with the GBP/USD a re-test of just below 1.2100 is there for the taking and frankly 1.1500 maybe even less, looks more than achievable when you think of what needs to be done and the time that this is going to take.\r\n\r\nThe GBP crosses all look vulnerable except for the EUR/GBP for the reasons outlined above regarding the single currency. All the previous lows with the GBP/AUD, GBP/CAD, GBP/CHF, GBP/JPY and GBP/NZD are there, in my opinion for the taking.\r\n\r\nWhen you think so much has been said, so much has been suggested, so many analysts have voiced opinions and so much has been rumoured by so many people and institutions yet to date, nothing serious has happened apart from the vote itself some 7 months ago!!\r\n\r\nI can guarantee you that I will be revisiting this subject more than a dozen times this year.\r\n\r\n<strong> </strong>\r\n<ol start=\"6\">\r\n 	<li><strong>CLOSING THOUGHTS:</strong></li>\r\n</ol>\r\nNothing more to add here, I have said enough except,\r\n\r\nAs usual…\r\n\r\nAlways remember longevity in Forex trading can only be achieved through trading with good RISK and MONEY MANAGEMENT, and above all set your position sizes in accordance with the size of your account and allow for some flexibility.\r\n\r\nTake care, have a great trading week.\r\n\r\nScott Pickering\r\nThe Pip Accumulator\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/disclaimer/\">http://weeklyfxdrivethru.com/disclaimer/</a>\r\n\r\nBLOG VERSION: #226 FREE NEWSLETTER\r\nDATE: 8<sup>th</sup> January 2017.\r\n\r\n&nbsp;','BREXIT – A LOT OF HOT AIR AND AS OF “RIGHT NOW” … STILL NOTHING HAS HAPPENED','','inherit','closed','closed','','8908-revision-v1','','','2017-01-07 07:49:07','2017-01-07 12:49:07','',8908,'http://weeklyfxdrivethru.com/8908-revision-v1/',0,'revision','',0),(9178,1,'2017-02-25 08:46:29','2017-02-25 13:46:29','&nbsp;\r\n<ol>\r\n 	<li><strong>INTRODUCTION:</strong></li>\r\n</ol>\r\nI am pleased to say that the losses I incurred in January have now been erased and the PREMIUM SERVICE is positive on pips. In addition, 4 out of my 6 broker accounts are now in the black, although I must say that is to varying degrees for 2017.\r\n\r\nI am still in my TRADE PLAN transition to have my CORE POSITION TRADES set up in time for the start of Q2. I have my TRADE PLAN in place, which is the most important aspect for me, and probably for you as well with your trading, but it is taking me a little longer than I expected to have all my trade set ups 100% in place. I suppose it’s no surprise given the current market conditions.\r\n\r\nI have been hesitant in doing too much with placing my CORE TRADES over the past 7 days primarily for two reasons. Firstly, this was because I wanted to read the FOMC minutes from the last hawkish issued FED statement. Secondly, I wanted further data regarding the following: - BREXIT, FRENCH ELECTIONS, DUTCH ELECTIONS, OPEC and “THE DONALD” aka TRUMPANTICS.\r\n\r\nWas it worth waiting?\r\n\r\nWell it’s as clear as mud!\r\n\r\nI hate to keep pushing out deadlines, but it does look like I will have to wait until after the FOMC March meeting before having everything in place.\r\n\r\nTalking about the FED…\r\n\r\nThe Yellen lead FED does not want to mislead markets but from my perspective it creates uncertainties. When I worked in the corporate world, minutes of a management meeting were supposed to represent and reflect the meeting that took place. In fact, for my meetings, I abandoned minutes as they were viewed as useless propaganda and I replaced them with Action Items with responsibilities attached to attendees. Far more productive. The FOMC minutes are political.\r\n\r\nThe statement and the minutes should be very similar. The statement content is discussed and agreed, therefore the minutes should reflect this and the tone should be similar. The FOMC minutes and Statement very rarely tie in together. Add to this the commentary from committee members, in between both releases and, more often than not, this does not tie in either.\r\n\r\nMy thoughts are below, whether you give this validity or not is up to you…\r\n\r\nAs I have said many times, Yellen is a DOVE and as the boss, the minutes reflect more of her bias and, as a result they cannot be balanced. There is a great mix of hawks and doves on the committee and from my perspective the published minutes are therefore not an accurate reflection of the meeting. The various “FED SPEAK” that has followed the meeting was hawkish and even Yellen’s “Humphrey Hawkins testimony” was slanted hawkish, although on day two of her testimony the markets weakened the USD considerably.\r\n\r\nNonetheless there is in my mind a disconnect.\r\n\r\nMoving on…\r\n\r\nOver the past couple of weeks, I have stated that I would write in this blog my revised trading approach for 2017. I have not forgotten, but this will be a Q2 article after it is in place.\r\n\r\nOther news during last week was as usual focused on the EUROZONE and BREXIT.\r\n\r\nFrench scandals and fresh alliances are typical in the French Presidential campaigns. All we need this weekend are a couple of mistresses and rent boys added in and voila!\r\n\r\nI couldn’t let this one pass by. The EUR rallied a bit early in the New York session based upon the fact that the EU and IMF had agreed a solution to the GREEK DEBT ongoing crisis; Debt forgiveness? My arse debt forgiveness… the rumoured solution is to extend repayments on a fixed interest basis to 2080.\r\n\r\nWFT… FFS... HMOG and glaze my nipples and call Rita, that\'s the solution. Kick the can down the road once again. In the name of sanity will EUROPEANS vote these people like Dijsselbloem out. What a pointless and useless bureaucrat, and as for Christine Lagarde of court appearance and IMF fame, she changes direction with the wind. If she lived in Galway, she would be the one at the end of the harbour doing pirouettes. What a shambolic and utter useless set of numpties.\r\n\r\nThe BREXIT rhetoric took a fresh leap last week with the legal costs of a BREXIT hitting the wires.\r\n\r\nThe Austrian Chancellor, Christian Kern was talking loose change of about €60 Billion. Obviously, the EU Commission Chief, Jean-Claude Junker chipped in to the commentary basically saying, “Divorce does not come cheap”.\r\n\r\nThe best response, and I could not have done it better myself, maybe a few fecks here and there, was from Tory Iain Duncan-Smith, who said in response to a “free lunch” jibe from the EU…” free lunch, we’ve paid so much into the EU over the past years we’ve already bought the damn restaurant”.\r\n\r\nIn addition to the IDS response, Theresa May also fought back with basically a “feck you”. I will make the UK a tax haven so you can stick your €60 billion invoice where the sun does not shine.\r\n\r\nTo place further stress on the UK leader, the “Celts” north of the border in bonnie Scotland, decided in the Edinburgh parliament that that they wanted to press for another Scotland Independent vote because in the BREXIT vote Scotland voted REMAIN by a huge margin. For reasons only known to the market cable ploughed higher on Thursday on the back of what I would call major uncertain news.\r\n\r\nBottom line is that “heels are being dug in” as it appears the UK and the EUROZONE cannot even agree on a BREXIT timetable for discussion. Nothing like a friendly, calm, peaceful and adult harmonized divorce.\r\n\r\nHappy days ahead with BREXIT, I cannot wait, it is going to be just brilliant.\r\n\r\nThink about all the market calls for BOE Carney to raise rates; Jesus, Mary and Joseph there is just as much of a chance of another rate cut.\r\n\r\nThe BREXIT is messy, it will get even more messy and frankly the trenches are being dug as I type.\r\n\r\nWith all the BREXIT news going to get very personal moving forward look out over the coming months for many inclusions in my blog of the following words and phrases: - feck, feck you, feck off, fecking idiots, fecking numpties, fecking feck, pass me that fecking pen, I am not signing that fecking paper and possibly you can stick that fecking pen up yer ar*e etc.\r\n\r\nMore…\r\n\r\nI have mentioned for the past couple of weeks that I was in transition with my trading approach this year given all the volatility and headwinds and my loss booked to the PREMIUM SERVICE in January.\r\n\r\nThis week as promised I share in “THE SOAPBOX” what I have done so far, the process I went through and why.\r\n\r\nA little bit more…\r\n\r\nTHE WEEKLY FX DRIVE THRU – LIVE webinars.\r\n\r\nNow up to #6 this Monday. The software still gives me the creeps at times but I am now more comfortable with the content and the time 30-35 minutes in length. This is long enough for me and probably too long for you guys with my Liverpool accent.\r\n\r\n#6 is on Monday 27th February at 5:30PM\r\n<ul>\r\n 	<li>To attend live - you need Google Chrome as a browser.</li>\r\n 	<li>You cannot view on smart phones or tablets, only Laptops and Desktops.</li>\r\n</ul>\r\nThe “LIVE WEBINAR” link is below: -\r\n\r\n<a href=\"http://bit.ly/drivethru-live\">http://bit.ly/drivethru-live</a>\r\n\r\nIf you cannot listen live you can check out my You Tube channel, <strong><em>Scott Pickering</em></strong> <strong><em>Weekly FX Drive Thru</em></strong> for a freshly posted copy of the webinar, usually, within a couple of hours of its completion.\r\n\r\nHere is the link for my you tube channel, when I get too 100 subscribers (if I get there) I can have my own personalized shortened link. If you like the style of my webinar, please subscribe. The benefits are that as soon as a new webinar is posted you are emailed.: -\r\n\r\n<a href=\"https://www.youtube.com/channel/UCV-9VDnNkHjTPBzKqLqCGJw/videos\">https://www.youtube.com/channel/UCV-9VDnNkHjTPBzKqLqCGJw/videos</a>\r\n\r\nFinally, in this section…\r\n\r\nIf you would like to be in the monthly draw to win a “FREE 10-WEEK SUBSCRIPTION” to the PREMIUM SERVICE, valued at CAD$1,000.00, all you have to do is subscribe to receive this FREE NEWSLETTER on my website <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a>  On my welcome page just below my cube logo is where you complete your subscription.\r\n\r\n<strong> </strong>\r\n<ol start=\"2\">\r\n 	<li><strong> THE FX MARKET PLACE – LOOKING FORWARD:</strong></li>\r\n</ol>\r\n<u>ECONOMIC DATA RELEASES:</u>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/02/ECON-DATA-26022017.png\"><img class=\"aligncenter size-large wp-image-9142\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/02/ECON-DATA-26022017-1024x901.png\" alt=\"\" width=\"1024\" height=\"901\" /></a>\r\n\r\n<u>MY THOUGHTS ON THE WEEK AHEAD:</u>\r\n\r\nJust a few of items catch my eye this week: -\r\n<ol>\r\n 	<li>USD: Consumer Confidence and Manufacturing and Non-Manufacturing PMi data releases are due this week.\r\n\r\nDare I mention it that the analysts will be out in force to claim appearance monies on CNBC and BLOOMBERG to place bets on a March rate hike based upon these numbers. Get ready and be prepared.</li>\r\n 	<li>CAD (BOC Rate Statement): No press conference this time around for Stephen Poloz to waffle his way through.\r\n\r\nI am expecting the CAD interest rates to be left alone but do not be surprised if the commentary is dovish reflecting Poloz’s comments after the last rate announcement.\r\n\r\nA cut is on the cards but I am not convinced now would be the time. You never know. No press conference could be the best time for him to act ahead of a FED rate hike.</li>\r\n 	<li>GBP: Construction, Services and Manufacturing PMi’s this week. These will be watched closely. Last week CBi Retail Sales were higher. One piece of good news. Of late UK data has been weaker.</li>\r\n 	<li>USD: Janet Yellen speaks on Friday. There is no reason that I can see that if she mentions the economy that she can be nothing other than slightly hawkish.</li>\r\n 	<li>USD: “THE DONALD” addresses congress.\r\n\r\nWhat can I say?\r\n\r\nIt should be a campaign speech and if he’s clever he will refer to his pledges to his achievements so far in placing Executive orders on file. He should talk about involving “Buy ins” from big business on jobs, technology and tax.\r\n\r\nHe should lay out his timetable of events.\r\n\r\nWhat he should not do is personalize the speech, with “he said it” and “she said that” and “I said it first” type of childish rhetoric.</li>\r\n</ol>\r\nI expect a non-traditional address with little factual content.\r\n\r\nFor the future’s sake of trying to unite the USA and stop all the stupid imploding style political rhetoric he should deliver goals and timetables. Key action item deadlines for success.\r\n\r\nThere is more chance of hell freezing over.\r\n\r\nAs always bear in mind it has been news rather than economic data moving the markets so check twitter for tweets from “THE DONALD” and be aware of the BREXIT and EUROZONE possibility to deliver geopolitical news at any time totally unannounced.\r\n\r\n<u>USD MAJORS – “IMMEDIATE” SUPPORT &amp; RESISTANCE with TREND:</u>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/02/T-CHART-26022017.png\"><img class=\"aligncenter size-large wp-image-9143\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/02/T-CHART-26022017-1024x858.png\" alt=\"\" width=\"1024\" height=\"858\" /></a>\r\n\r\nThe charts below contain commentary (my thoughts and views), the charts are the USD majors reflected in the excel spreadsheet above.\r\n\r\n<strong>EUR/USD:</strong>\r\n\r\n<strong> <a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/02/EURUSD-D-26022017.png\"><img class=\"aligncenter size-large wp-image-9155\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/02/EURUSD-D-26022017-1024x485.png\" alt=\"\" width=\"1024\" height=\"485\" /></a></strong>\r\n\r\n<strong> </strong>\r\n\r\n<strong>GBP/USD:</strong>\r\n\r\n<strong> <a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/02/GBPUSD-D-26022017.png\"><img class=\"aligncenter size-large wp-image-9156\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/02/GBPUSD-D-26022017-1024x485.png\" alt=\"\" width=\"1024\" height=\"485\" /></a></strong>\r\n\r\n<strong> </strong>\r\n\r\n<strong>AUD/USD:</strong>\r\n\r\n<strong> <a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/02/AUDUSD-D-26022017.png\"><img class=\"aligncenter size-large wp-image-9154\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/02/AUDUSD-D-26022017-1024x485.png\" alt=\"\" width=\"1024\" height=\"485\" /></a></strong>\r\n\r\n<strong> </strong>\r\n\r\n<strong>NZD/USD:</strong>\r\n\r\n<strong> <a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/02/NZDUSD-D-26022017.png\"><img class=\"aligncenter size-large wp-image-9157\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/02/NZDUSD-D-26022017-1024x485.png\" alt=\"\" width=\"1024\" height=\"485\" /></a></strong>\r\n\r\n<strong> </strong>\r\n\r\n<strong>USD/CAD:</strong>\r\n\r\n<strong><a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/02/USDCAD-D-26022017.png\"><img class=\"aligncenter size-large wp-image-9158\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/02/USDCAD-D-26022017-1024x485.png\" alt=\"\" width=\"1024\" height=\"485\" /></a> </strong>\r\n\r\n<strong> </strong>\r\n\r\n<strong>USD/CHF:</strong>\r\n\r\n<strong><a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/02/USDCHF-D-26022017.png\"><img class=\"aligncenter size-large wp-image-9159\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/02/USDCHF-D-26022017-1024x485.png\" alt=\"\" width=\"1024\" height=\"485\" /></a> </strong>\r\n\r\n<strong> </strong>\r\n\r\n<strong>USD/JPY:</strong>\r\n\r\n<strong><a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/02/USDJPY-D-26022017.png\"><img class=\"aligncenter size-large wp-image-9160\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/02/USDJPY-D-26022017-1024x485.png\" alt=\"\" width=\"1024\" height=\"485\" /></a>\r\n\r\n</strong>\r\n<ol start=\"3\">\r\n 	<li><strong> THE PREMIUM SERVICE:</strong></li>\r\n</ol>\r\n<u>WHAT IS THE PREMIUM SERVICE:</u>\r\n\r\nThe PREMIUM SERVICE is a subscriber, fee based trade set-up option for Forex traders regardless of experience or background. I provide traders suggested trades, and some market commentary related to open trades or factors within the overall market that have my interest.\r\n\r\nFull details of the PREMIUM SERVICE and costs to subscribe plus the various trade styles and how suggested trade set-ups are communicated can be found on my website landing page at <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a> by selecting THE PREMIUM SERVICE tab.\r\n\r\nAdditional information can be found by clicking TESTIMONIALS, PART-TIME TRADERS and FX PROMOTIONS tabs. To subscribe to THE PREMIUM SERVICE, you will require a valid credit card.\r\n\r\nIf you would like to watch/listen to a c.30-minute PREMIUM SERVICE webinar to learn more about what I can do to help you with your trading. Then click the link below and register. It is FREE… it costs nothing to listen.\r\n\r\n<a href=\"http://www.onlinemeetingnow.com/register/?id=wrklqabmy3\">http://www.onlinemeetingnow.com/register/?id=wrklqabmy3</a>\r\n\r\n&nbsp;\r\n<ol start=\"4\">\r\n 	<li><strong>PREMIUM SERVICE – SUBSCRIBER CONTENT AREA:</strong></li>\r\n</ol>\r\n(This section is only viewable to PREMIUM SERVICE subscribers)\r\n\r\n<strong> </strong>\r\n<ol start=\"5\">\r\n 	<li><strong> THE SOAPBOX:</strong></li>\r\n</ol>\r\n<p style=\"text-align: center;\"><strong>HOW I AM ADAPTING MY TRADING </strong><strong>IN “LA LA LAND”</strong></p>\r\nI could have made the title of the soapbox this week: -\r\n\r\n<strong>FFS…  THIS IS A BLOODY NONSENSE</strong>\r\n\r\nTempted as I was I decided to go with something more mainstream that Google would appreciate from an analytics perspective.\r\n\r\nLet me just say, if you are trading anything other than 5-15 minute trades and you have your head above the water… congratulations. You deserve it. This market is at times about a useful as a chocolate teapot.\r\n“THE DONALD” appears to be running a reality TV presidency. From my perspective at times politically TRUMP appears slightly right of Attila the Hun and he without doubt thrives on confrontation.  The mainstream press won’t or can’t adjust to the new way in LA LA LAND. TRUMP is similar in purpose to my boy Labrador Ozzy, now 6 who is single mindedly focused on food. TRUMP is the Mr. Magoo of politics, he marches on leaving chaos and disorder behind him, and, he appears oblivious to this fact as he is surrounded with a team of yes people unfamiliar with the protocol in these situations and fearful to challenge TRUMP.\r\n\r\nIf the US press had brains they would plamause him and let him hang himself in the process. Regretfully, the likes of CNN, CNBC, NBC etc. cannot see beyond the next advertising cheque.\r\n\r\nThe effects of all this is a market driven by outrageous press conferences, tweets and a “he said / she said” mentality, better described as schoolyard, childish antics.\r\n\r\nFrom a trading perspective at times impossible to trade it is tantamount to gambling. As I have said before if you start gambling go to Vegas or Macau.\r\n\r\nOn the other side of the pond, the EUROZONE bureaucrats have started with commentary which they know 100% is going to raise the blood pressure levels of your average Brit. Having already voted to leave the EUROPEAN UNION because of sovereignty issues and immigration issues, the EUROPEAN UNION is now focused on a BREXIT EXIT BILL of some €60 billion. No negotiations until this amount is recognized as the invoice to pay to leave.\r\n\r\nI can just imagine the closed-door government conversations about this matter. I would say the commentary would be priceless.\r\n\r\nOn top of this we have the FRENCH ELECTIONS. Centre parties unite with candidates Francois Bayrou and Emmanuel Macron forming a coalition to beat both Francois Fillon and Marine Le Pen to form what is seen as a winning combination for the second round of voting in May assuming they pass the first round. Controversies and scandals galore, no mistresses yet as I mentioned earlier, or rent boys either…yet.\r\n\r\nTake absolutely nothing for granted. The polls are no longer a true reflection, the voters play games with the TV companies and pollsters.\r\n\r\nIn HOLLAND, the far-right Party for Freedom (Anti-Islam) leader Geert Wilders is neck and neck in the polls for victory.\r\n\r\nIn GERMANY, Christian democrat leader Martin Schulz is now confirmed ahead of Angela Merkel in the polls.\r\n\r\nThen we have GREECE…\r\n\r\nShould Le Pen claim a victory along with Wilders that would be the end of the EUROPEAN UNION. If I was Theresa May I would delay the A50 trigger. What’s the point of wasting time negotiating over something that could be down the tubes faster than a tin of dog food down Ozzy’s throat…. and that is fast!!\r\n\r\nBasically, at times both sides of the pond have their own versions of LA LA LAND and it’s not a pretty place to be as a trader if you are caught in the middle of the nonsense.\r\n\r\nSo; if you think it’s choppy now with all the above and much more of the same only probably worse on the horizon what do you do?\r\n\r\nHere is what I am in the process of doing: -\r\n\r\nWell, in January I booked a 793-pip loss as you know. This month it has been wiped away and the PREMIUM SERVICE is very nicely positive again. I have no doubts about my ability to adjust and fathom things out to make a profit. My goal is a clear 10,000 pips a year. It will be tough this year as I have never experienced anything like these headwinds across various currencies at the same time with a backdrop of central bank monetary policy divergence.\r\n\r\nIt’s all down to basics.\r\n\r\nLook at your TRADE PLAN. Examine what trades were not working and why?\r\n<ul>\r\n 	<li>Was it a specific trade style?</li>\r\n 	<li>Was it a specific currency pair or pairs?</li>\r\n 	<li>Are the poor trades emanating from specific trading sessions?</li>\r\n 	<li>Are my stops too tight?</li>\r\n 	<li>Are my stops too wide?</li>\r\n 	<li>Was I cutting corners?</li>\r\n 	<li>Was I over-trading the market?</li>\r\n</ul>\r\nI looked at all of this and decided to act, re-evaluate my TRADE PLAN to take effect from Q2.\r\n\r\nBasically, the headwinds in the EUROZONE, BREXIT and TRUMP will dominate everything and the currencies relating to these event risk countries happen to be the most liquid.\r\n\r\nAs PREMIUM SERVICE subscribers would testify, most of my trades are focused around the USD majors. I have cut my reliance on the commodity pairs like, AUD/USD, NZD/USD and USD/CAD and the cross-rates for now, and, focused my attention on my fundamentals based around the EUR/USD and GBP/USD. Not actively trading the commodity pairs for me is weird, since I cannot recall a time for almost 5 years I have not had a USD / Commodity pair related trade live.\r\n\r\nI gave myself until the end of Q1 to turn things around and exit some longer-term trades that I am just “sitting in” for want of a better phrase. I have these identified and on my RADAR to exit moving forward.\r\n\r\nI work better to a plan and goals, being goal orientated for as long as I can remember. My accounts are in transition but I am already creating CORE POSITIONS.\r\n\r\nA few years ago, I was taken to the woodshed and given a severe spanking by the JPY. Since that day, I have 99% of my time stayed away from it. As PREMIUM SERVICE subscribers know, I have moved back into the EUR/JPY for quite obvious reasons and so far, I have closed two positive trades, and have one more LIVE trade with 100 pips of profit already protected with two more LIMIT ORDERS in position to trigger.\r\n\r\nMy portfolio of trades will be around my core strengths. The big picture fundamentals, they trump (no pun intended) all. Technical trading has its place, but for me I am not by nature a 15-minute maximum scalper trader, it is just not in my DNA.\r\n\r\nNothing new…\r\n<ul>\r\n 	<li>Smaller position sizes.</li>\r\n 	<li>Wider stops offer great trade flexibility.</li>\r\n 	<li>At the same time manage RISK</li>\r\n 	<li>Plan your trades and Trade your plan.</li>\r\n</ul>\r\nThe biggest difference I am making moving into Q2 was to concentrate on the currencies I understand most. This is NOT rocket science. How successful I will be will be determined at the end of 2017 if I reach my PREMIUM SERVICE 10,000 pip target. I still have work to do but I am structured, disciplined and timely to make it happen.\r\n\r\nI am not sure if what I am doing resonates with any readers. Maybe you had a great start to 2017 unlike myself, and, none of this would therefore be required.\r\n\r\nAlways remember the ability to adapt, readily accept change and remain motivated are three key requisites of a Forex Trader.\r\n\r\n&nbsp;\r\n<ol start=\"6\">\r\n 	<li><strong> CLOSING THOUGHTS:</strong></li>\r\n</ol>\r\nNothing more to add here, I have said enough except,\r\n\r\nAs usual…\r\n\r\nAlways remember longevity in Forex trading can only be achieved through trading with good RISK and MONEY MANAGEMENT, and above all set your position sizes in accordance with the size of your account and allow for some flexibility.\r\n\r\nTake care, have a great trading week.\r\n\r\nScott PickeringThe Pip Accumulator\r\nTwitter: @pipaccumulator\r\n<a href=\"http://weeklyfxdrivethru.com/disclaimer/\">http://weeklyfxdrivethru.com/disclaimer/</a>\r\n\r\nBLOG VERSION: #233 FREE NEWSLETTER\r\nDATE: 26th February 2017.\r\n\r\n<strong>\r\n</strong>\r\n\r\n&nbsp;','HOW I AM ADAPTING MY TRADING IN “LA LA LAND”','','publish','open','closed','','adapting-trading-la-la-land','','','2017-02-25 08:46:29','2017-02-25 13:46:29','',0,'https://weeklyfxdrivethru.com/?p=9178',0,'post','',0),(9179,1,'2017-02-25 08:46:29','2017-02-25 13:46:29','&nbsp;\r\n<ol>\r\n 	<li><strong>INTRODUCTION:</strong></li>\r\n</ol>\r\nI am pleased to say that the losses I incurred in January have now been erased and the PREMIUM SERVICE is positive on pips. In addition, 4 out of my 6 broker accounts are now in the black, although I must say that is to varying degrees for 2017.\r\n\r\nI am still in my TRADE PLAN transition to have my CORE POSITION TRADES set up in time for the start of Q2. I have my TRADE PLAN in place, which is the most important aspect for me, and probably for you as well with your trading, but it is taking me a little longer than I expected to have all my trade set ups 100% in place. I suppose it’s no surprise given the current market conditions.\r\n\r\nI have been hesitant in doing too much with placing my CORE TRADES over the past 7 days primarily for two reasons. Firstly, this was because I wanted to read the FOMC minutes from the last hawkish issued FED statement. Secondly, I wanted further data regarding the following: - BREXIT, FRENCH ELECTIONS, DUTCH ELECTIONS, OPEC and “THE DONALD” aka TRUMPANTICS.\r\n\r\nWas it worth waiting?\r\n\r\nWell it’s as clear as mud!\r\n\r\nI hate to keep pushing out deadlines, but it does look like I will have to wait until after the FOMC March meeting before having everything in place.\r\n\r\nTalking about the FED…\r\n\r\nThe Yellen lead FED does not want to mislead markets but from my perspective it creates uncertainties. When I worked in the corporate world, minutes of a management meeting were supposed to represent and reflect the meeting that took place. In fact, for my meetings, I abandoned minutes as they were viewed as useless propaganda and I replaced them with Action Items with responsibilities attached to attendees. Far more productive. The FOMC minutes are political.\r\n\r\nThe statement and the minutes should be very similar. The statement content is discussed and agreed, therefore the minutes should reflect this and the tone should be similar. The FOMC minutes and Statement very rarely tie in together. Add to this the commentary from committee members, in between both releases and, more often than not, this does not tie in either.\r\n\r\nMy thoughts are below, whether you give this validity or not is up to you…\r\n\r\nAs I have said many times, Yellen is a DOVE and as the boss, the minutes reflect more of her bias and, as a result they cannot be balanced. There is a great mix of hawks and doves on the committee and from my perspective the published minutes are therefore not an accurate reflection of the meeting. The various “FED SPEAK” that has followed the meeting was hawkish and even Yellen’s “Humphrey Hawkins testimony” was slanted hawkish, although on day two of her testimony the markets weakened the USD considerably.\r\n\r\nNonetheless there is in my mind a disconnect.\r\n\r\nMoving on…\r\n\r\nOver the past couple of weeks, I have stated that I would write in this blog my revised trading approach for 2017. I have not forgotten, but this will be a Q2 article after it is in place.\r\n\r\nOther news during last week was as usual focused on the EUROZONE and BREXIT.\r\n\r\nFrench scandals and fresh alliances are typical in the French Presidential campaigns. All we need this weekend are a couple of mistresses and rent boys added in and voila!\r\n\r\nI couldn’t let this one pass by. The EUR rallied a bit early in the New York session based upon the fact that the EU and IMF had agreed a solution to the GREEK DEBT ongoing crisis; Debt forgiveness? My arse debt forgiveness… the rumoured solution is to extend repayments on a fixed interest basis to 2080.\r\n\r\nWFT… FFS... HMOG and glaze my nipples and call Rita, that\'s the solution. Kick the can down the road once again. In the name of sanity will EUROPEANS vote these people like Dijsselbloem out. What a pointless and useless bureaucrat, and as for Christine Lagarde of court appearance and IMF fame, she changes direction with the wind. If she lived in Galway, she would be the one at the end of the harbour doing pirouettes. What a shambolic and utter useless set of numpties.\r\n\r\nThe BREXIT rhetoric took a fresh leap last week with the legal costs of a BREXIT hitting the wires.\r\n\r\nThe Austrian Chancellor, Christian Kern was talking loose change of about €60 Billion. Obviously, the EU Commission Chief, Jean-Claude Junker chipped in to the commentary basically saying, “Divorce does not come cheap”.\r\n\r\nThe best response, and I could not have done it better myself, maybe a few fecks here and there, was from Tory Iain Duncan-Smith, who said in response to a “free lunch” jibe from the EU…” free lunch, we’ve paid so much into the EU over the past years we’ve already bought the damn restaurant”.\r\n\r\nIn addition to the IDS response, Theresa May also fought back with basically a “feck you”. I will make the UK a tax haven so you can stick your €60 billion invoice where the sun does not shine.\r\n\r\nTo place further stress on the UK leader, the “Celts” north of the border in bonnie Scotland, decided in the Edinburgh parliament that that they wanted to press for another Scotland Independent vote because in the BREXIT vote Scotland voted REMAIN by a huge margin. For reasons only known to the market cable ploughed higher on Thursday on the back of what I would call major uncertain news.\r\n\r\nBottom line is that “heels are being dug in” as it appears the UK and the EUROZONE cannot even agree on a BREXIT timetable for discussion. Nothing like a friendly, calm, peaceful and adult harmonized divorce.\r\n\r\nHappy days ahead with BREXIT, I cannot wait, it is going to be just brilliant.\r\n\r\nThink about all the market calls for BOE Carney to raise rates; Jesus, Mary and Joseph there is just as much of a chance of another rate cut.\r\n\r\nThe BREXIT is messy, it will get even more messy and frankly the trenches are being dug as I type.\r\n\r\nWith all the BREXIT news going to get very personal moving forward look out over the coming months for many inclusions in my blog of the following words and phrases: - feck, feck you, feck off, fecking idiots, fecking numpties, fecking feck, pass me that fecking pen, I am not signing that fecking paper and possibly you can stick that fecking pen up yer ar*e etc.\r\n\r\nMore…\r\n\r\nI have mentioned for the past couple of weeks that I was in transition with my trading approach this year given all the volatility and headwinds and my loss booked to the PREMIUM SERVICE in January.\r\n\r\nThis week as promised I share in “THE SOAPBOX” what I have done so far, the process I went through and why.\r\n\r\nA little bit more…\r\n\r\nTHE WEEKLY FX DRIVE THRU – LIVE webinars.\r\n\r\nNow up to #6 this Monday. The software still gives me the creeps at times but I am now more comfortable with the content and the time 30-35 minutes in length. This is long enough for me and probably too long for you guys with my Liverpool accent.\r\n\r\n#6 is on Monday 27th February at 5:30PM\r\n<ul>\r\n 	<li>To attend live - you need Google Chrome as a browser.</li>\r\n 	<li>You cannot view on smart phones or tablets, only Laptops and Desktops.</li>\r\n</ul>\r\nThe “LIVE WEBINAR” link is below: -\r\n\r\n<a href=\"http://bit.ly/drivethru-live\">http://bit.ly/drivethru-live</a>\r\n\r\nIf you cannot listen live you can check out my You Tube channel, <strong><em>Scott Pickering</em></strong> <strong><em>Weekly FX Drive Thru</em></strong> for a freshly posted copy of the webinar, usually, within a couple of hours of its completion.\r\n\r\nHere is the link for my you tube channel, when I get too 100 subscribers (if I get there) I can have my own personalized shortened link. If you like the style of my webinar, please subscribe. The benefits are that as soon as a new webinar is posted you are emailed.: -\r\n\r\n<a href=\"https://www.youtube.com/channel/UCV-9VDnNkHjTPBzKqLqCGJw/videos\">https://www.youtube.com/channel/UCV-9VDnNkHjTPBzKqLqCGJw/videos</a>\r\n\r\nFinally, in this section…\r\n\r\nIf you would like to be in the monthly draw to win a “FREE 10-WEEK SUBSCRIPTION” to the PREMIUM SERVICE, valued at CAD$1,000.00, all you have to do is subscribe to receive this FREE NEWSLETTER on my website <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a>  On my welcome page just below my cube logo is where you complete your subscription.\r\n\r\n<strong> </strong>\r\n<ol start=\"2\">\r\n 	<li><strong> THE FX MARKET PLACE – LOOKING FORWARD:</strong></li>\r\n</ol>\r\n<u>ECONOMIC DATA RELEASES:</u>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/02/ECON-DATA-26022017.png\"><img class=\"aligncenter size-large wp-image-9142\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/02/ECON-DATA-26022017-1024x901.png\" alt=\"\" width=\"1024\" height=\"901\" /></a>\r\n\r\n<u>MY THOUGHTS ON THE WEEK AHEAD:</u>\r\n\r\nJust a few of items catch my eye this week: -\r\n<ol>\r\n 	<li>USD: Consumer Confidence and Manufacturing and Non-Manufacturing PMi data releases are due this week.\r\n\r\nDare I mention it that the analysts will be out in force to claim appearance monies on CNBC and BLOOMBERG to place bets on a March rate hike based upon these numbers. Get ready and be prepared.</li>\r\n 	<li>CAD (BOC Rate Statement): No press conference this time around for Stephen Poloz to waffle his way through.\r\n\r\nI am expecting the CAD interest rates to be left alone but do not be surprised if the commentary is dovish reflecting Poloz’s comments after the last rate announcement.\r\n\r\nA cut is on the cards but I am not convinced now would be the time. You never know. No press conference could be the best time for him to act ahead of a FED rate hike.</li>\r\n 	<li>GBP: Construction, Services and Manufacturing PMi’s this week. These will be watched closely. Last week CBi Retail Sales were higher. One piece of good news. Of late UK data has been weaker.</li>\r\n 	<li>USD: Janet Yellen speaks on Friday. There is no reason that I can see that if she mentions the economy that she can be nothing other than slightly hawkish.</li>\r\n 	<li>USD: “THE DONALD” addresses congress.\r\n\r\nWhat can I say?\r\n\r\nIt should be a campaign speech and if he’s clever he will refer to his pledges to his achievements so far in placing Executive orders on file. He should talk about involving “Buy ins” from big business on jobs, technology and tax.\r\n\r\nHe should lay out his timetable of events.\r\n\r\nWhat he should not do is personalize the speech, with “he said it” and “she said that” and “I said it first” type of childish rhetoric.</li>\r\n</ol>\r\nI expect a non-traditional address with little factual content.\r\n\r\nFor the future’s sake of trying to unite the USA and stop all the stupid imploding style political rhetoric he should deliver goals and timetables. Key action item deadlines for success.\r\n\r\nThere is more chance of hell freezing over.\r\n\r\nAs always bear in mind it has been news rather than economic data moving the markets so check twitter for tweets from “THE DONALD” and be aware of the BREXIT and EUROZONE possibility to deliver geopolitical news at any time totally unannounced.\r\n\r\n<u>USD MAJORS – “IMMEDIATE” SUPPORT &amp; RESISTANCE with TREND:</u>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/02/T-CHART-26022017.png\"><img class=\"aligncenter size-large wp-image-9143\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/02/T-CHART-26022017-1024x858.png\" alt=\"\" width=\"1024\" height=\"858\" /></a>\r\n\r\nThe charts below contain commentary (my thoughts and views), the charts are the USD majors reflected in the excel spreadsheet above.\r\n\r\n<strong>EUR/USD:</strong>\r\n\r\n<strong> <a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/02/EURUSD-D-26022017.png\"><img class=\"aligncenter size-large wp-image-9155\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/02/EURUSD-D-26022017-1024x485.png\" alt=\"\" width=\"1024\" height=\"485\" /></a></strong>\r\n\r\n<strong> </strong>\r\n\r\n<strong>GBP/USD:</strong>\r\n\r\n<strong> <a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/02/GBPUSD-D-26022017.png\"><img class=\"aligncenter size-large wp-image-9156\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/02/GBPUSD-D-26022017-1024x485.png\" alt=\"\" width=\"1024\" height=\"485\" /></a></strong>\r\n\r\n<strong> </strong>\r\n\r\n<strong>AUD/USD:</strong>\r\n\r\n<strong> <a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/02/AUDUSD-D-26022017.png\"><img class=\"aligncenter size-large wp-image-9154\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/02/AUDUSD-D-26022017-1024x485.png\" alt=\"\" width=\"1024\" height=\"485\" /></a></strong>\r\n\r\n<strong> </strong>\r\n\r\n<strong>NZD/USD:</strong>\r\n\r\n<strong> <a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/02/NZDUSD-D-26022017.png\"><img class=\"aligncenter size-large wp-image-9157\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/02/NZDUSD-D-26022017-1024x485.png\" alt=\"\" width=\"1024\" height=\"485\" /></a></strong>\r\n\r\n<strong> </strong>\r\n\r\n<strong>USD/CAD:</strong>\r\n\r\n<strong><a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/02/USDCAD-D-26022017.png\"><img class=\"aligncenter size-large wp-image-9158\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/02/USDCAD-D-26022017-1024x485.png\" alt=\"\" width=\"1024\" height=\"485\" /></a> </strong>\r\n\r\n<strong> </strong>\r\n\r\n<strong>USD/CHF:</strong>\r\n\r\n<strong><a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/02/USDCHF-D-26022017.png\"><img class=\"aligncenter size-large wp-image-9159\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/02/USDCHF-D-26022017-1024x485.png\" alt=\"\" width=\"1024\" height=\"485\" /></a> </strong>\r\n\r\n<strong> </strong>\r\n\r\n<strong>USD/JPY:</strong>\r\n\r\n<strong><a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/02/USDJPY-D-26022017.png\"><img class=\"aligncenter size-large wp-image-9160\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/02/USDJPY-D-26022017-1024x485.png\" alt=\"\" width=\"1024\" height=\"485\" /></a>\r\n\r\n</strong>\r\n<ol start=\"3\">\r\n 	<li><strong> THE PREMIUM SERVICE:</strong></li>\r\n</ol>\r\n<u>WHAT IS THE PREMIUM SERVICE:</u>\r\n\r\nThe PREMIUM SERVICE is a subscriber, fee based trade set-up option for Forex traders regardless of experience or background. I provide traders suggested trades, and some market commentary related to open trades or factors within the overall market that have my interest.\r\n\r\nFull details of the PREMIUM SERVICE and costs to subscribe plus the various trade styles and how suggested trade set-ups are communicated can be found on my website landing page at <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a> by selecting THE PREMIUM SERVICE tab.\r\n\r\nAdditional information can be found by clicking TESTIMONIALS, PART-TIME TRADERS and FX PROMOTIONS tabs. To subscribe to THE PREMIUM SERVICE, you will require a valid credit card.\r\n\r\nIf you would like to watch/listen to a c.30-minute PREMIUM SERVICE webinar to learn more about what I can do to help you with your trading. Then click the link below and register. It is FREE… it costs nothing to listen.\r\n\r\n<a href=\"http://www.onlinemeetingnow.com/register/?id=wrklqabmy3\">http://www.onlinemeetingnow.com/register/?id=wrklqabmy3</a>\r\n\r\n&nbsp;\r\n<ol start=\"4\">\r\n 	<li><strong>PREMIUM SERVICE – SUBSCRIBER CONTENT AREA:</strong></li>\r\n</ol>\r\n(This section is only viewable to PREMIUM SERVICE subscribers)\r\n\r\n<strong> </strong>\r\n<ol start=\"5\">\r\n 	<li><strong> THE SOAPBOX:</strong></li>\r\n</ol>\r\n<p style=\"text-align: center;\"><strong>HOW I AM ADAPTING MY TRADING </strong><strong>IN “LA LA LAND”</strong></p>\r\nI could have made the title of the soapbox this week: -\r\n\r\n<strong>FFS…  THIS IS A BLOODY NONSENSE</strong>\r\n\r\nTempted as I was I decided to go with something more mainstream that Google would appreciate from an analytics perspective.\r\n\r\nLet me just say, if you are trading anything other than 5-15 minute trades and you have your head above the water… congratulations. You deserve it. This market is at times about a useful as a chocolate teapot.\r\n“THE DONALD” appears to be running a reality TV presidency. From my perspective at times politically TRUMP appears slightly right of Attila the Hun and he without doubt thrives on confrontation.  The mainstream press won’t or can’t adjust to the new way in LA LA LAND. TRUMP is similar in purpose to my boy Labrador Ozzy, now 6 who is single mindedly focused on food. TRUMP is the Mr. Magoo of politics, he marches on leaving chaos and disorder behind him, and, he appears oblivious to this fact as he is surrounded with a team of yes people unfamiliar with the protocol in these situations and fearful to challenge TRUMP.\r\n\r\nIf the US press had brains they would plamause him and let him hang himself in the process. Regretfully, the likes of CNN, CNBC, NBC etc. cannot see beyond the next advertising cheque.\r\n\r\nThe effects of all this is a market driven by outrageous press conferences, tweets and a “he said / she said” mentality, better described as schoolyard, childish antics.\r\n\r\nFrom a trading perspective at times impossible to trade it is tantamount to gambling. As I have said before if you start gambling go to Vegas or Macau.\r\n\r\nOn the other side of the pond, the EUROZONE bureaucrats have started with commentary which they know 100% is going to raise the blood pressure levels of your average Brit. Having already voted to leave the EUROPEAN UNION because of sovereignty issues and immigration issues, the EUROPEAN UNION is now focused on a BREXIT EXIT BILL of some €60 billion. No negotiations until this amount is recognized as the invoice to pay to leave.\r\n\r\nI can just imagine the closed-door government conversations about this matter. I would say the commentary would be priceless.\r\n\r\nOn top of this we have the FRENCH ELECTIONS. Centre parties unite with candidates Francois Bayrou and Emmanuel Macron forming a coalition to beat both Francois Fillon and Marine Le Pen to form what is seen as a winning combination for the second round of voting in May assuming they pass the first round. Controversies and scandals galore, no mistresses yet as I mentioned earlier, or rent boys either…yet.\r\n\r\nTake absolutely nothing for granted. The polls are no longer a true reflection, the voters play games with the TV companies and pollsters.\r\n\r\nIn HOLLAND, the far-right Party for Freedom (Anti-Islam) leader Geert Wilders is neck and neck in the polls for victory.\r\n\r\nIn GERMANY, Christian democrat leader Martin Schulz is now confirmed ahead of Angela Merkel in the polls.\r\n\r\nThen we have GREECE…\r\n\r\nShould Le Pen claim a victory along with Wilders that would be the end of the EUROPEAN UNION. If I was Theresa May I would delay the A50 trigger. What’s the point of wasting time negotiating over something that could be down the tubes faster than a tin of dog food down Ozzy’s throat…. and that is fast!!\r\n\r\nBasically, at times both sides of the pond have their own versions of LA LA LAND and it’s not a pretty place to be as a trader if you are caught in the middle of the nonsense.\r\n\r\nSo; if you think it’s choppy now with all the above and much more of the same only probably worse on the horizon what do you do?\r\n\r\nHere is what I am in the process of doing: -\r\n\r\nWell, in January I booked a 793-pip loss as you know. This month it has been wiped away and the PREMIUM SERVICE is very nicely positive again. I have no doubts about my ability to adjust and fathom things out to make a profit. My goal is a clear 10,000 pips a year. It will be tough this year as I have never experienced anything like these headwinds across various currencies at the same time with a backdrop of central bank monetary policy divergence.\r\n\r\nIt’s all down to basics.\r\n\r\nLook at your TRADE PLAN. Examine what trades were not working and why?\r\n<ul>\r\n 	<li>Was it a specific trade style?</li>\r\n 	<li>Was it a specific currency pair or pairs?</li>\r\n 	<li>Are the poor trades emanating from specific trading sessions?</li>\r\n 	<li>Are my stops too tight?</li>\r\n 	<li>Are my stops too wide?</li>\r\n 	<li>Was I cutting corners?</li>\r\n 	<li>Was I over-trading the market?</li>\r\n</ul>\r\nI looked at all of this and decided to act, re-evaluate my TRADE PLAN to take effect from Q2.\r\n\r\nBasically, the headwinds in the EUROZONE, BREXIT and TRUMP will dominate everything and the currencies relating to these event risk countries happen to be the most liquid.\r\n\r\nAs PREMIUM SERVICE subscribers would testify, most of my trades are focused around the USD majors. I have cut my reliance on the commodity pairs like, AUD/USD, NZD/USD and USD/CAD and the cross-rates for now, and, focused my attention on my fundamentals based around the EUR/USD and GBP/USD. Not actively trading the commodity pairs for me is weird, since I cannot recall a time for almost 5 years I have not had a USD / Commodity pair related trade live.\r\n\r\nI gave myself until the end of Q1 to turn things around and exit some longer-term trades that I am just “sitting in” for want of a better phrase. I have these identified and on my RADAR to exit moving forward.\r\n\r\nI work better to a plan and goals, being goal orientated for as long as I can remember. My accounts are in transition but I am already creating CORE POSITIONS.\r\n\r\nA few years ago, I was taken to the woodshed and given a severe spanking by the JPY. Since that day, I have 99% of my time stayed away from it. As PREMIUM SERVICE subscribers know, I have moved back into the EUR/JPY for quite obvious reasons and so far, I have closed two positive trades, and have one more LIVE trade with 100 pips of profit already protected with two more LIMIT ORDERS in position to trigger.\r\n\r\nMy portfolio of trades will be around my core strengths. The big picture fundamentals, they trump (no pun intended) all. Technical trading has its place, but for me I am not by nature a 15-minute maximum scalper trader, it is just not in my DNA.\r\n\r\nNothing new…\r\n<ul>\r\n 	<li>Smaller position sizes.</li>\r\n 	<li>Wider stops offer great trade flexibility.</li>\r\n 	<li>At the same time manage RISK</li>\r\n 	<li>Plan your trades and Trade your plan.</li>\r\n</ul>\r\nThe biggest difference I am making moving into Q2 was to concentrate on the currencies I understand most. This is NOT rocket science. How successful I will be will be determined at the end of 2017 if I reach my PREMIUM SERVICE 10,000 pip target. I still have work to do but I am structured, disciplined and timely to make it happen.\r\n\r\nI am not sure if what I am doing resonates with any readers. Maybe you had a great start to 2017 unlike myself, and, none of this would therefore be required.\r\n\r\nAlways remember the ability to adapt, readily accept change and remain motivated are three key requisites of a Forex Trader.\r\n\r\n&nbsp;\r\n<ol start=\"6\">\r\n 	<li><strong> CLOSING THOUGHTS:</strong></li>\r\n</ol>\r\nNothing more to add here, I have said enough except,\r\n\r\nAs usual…\r\n\r\nAlways remember longevity in Forex trading can only be achieved through trading with good RISK and MONEY MANAGEMENT, and above all set your position sizes in accordance with the size of your account and allow for some flexibility.\r\n\r\nTake care, have a great trading week.\r\n\r\nScott PickeringThe Pip Accumulator\r\nTwitter: @pipaccumulator\r\n<a href=\"http://weeklyfxdrivethru.com/disclaimer/\">http://weeklyfxdrivethru.com/disclaimer/</a>\r\n\r\nBLOG VERSION: #233 FREE NEWSLETTER\r\nDATE: 26th February 2017.\r\n\r\n<strong>\r\n</strong>\r\n\r\n&nbsp;','HOW I AM ADAPTING MY TRADING IN “LA LA LAND”','','inherit','closed','closed','','9178-revision-v1','','','2017-02-25 08:46:29','2017-02-25 13:46:29','',9178,'https://weeklyfxdrivethru.com/9178-revision-v1/',0,'revision','',0),(9252,1,'2017-03-04 07:40:56','2017-03-04 12:40:56','&nbsp;\r\n<ol>\r\n 	<li><strong>INTRODUCTION:</strong></li>\r\n</ol>\r\nAs we all know and recognize, trading is about consistency, banking $$$, making pips and longevity through effective RISK MANAGEMENT, POSITION SIZING and trading with a TRADE PLAN.\r\n\r\nWhen you break it all down into its main constituent parts it’s actually very simple and straightforward. I have pages and pages referring to the above points on a multiple of PDF documents inside the PREMIUM SERVICE website. I read a few the other day to refresh the validity of the content and I must say albeit that some articles were saved from 2010 and earlier, they are still as relevant today as they were when they were initially posted.\r\n\r\nTrading is basically a formula that needs “tweaking” every now and then but basically it is repetition based around a proven formula.\r\n\r\nBasically, at the outset of 2017. I tweaked (so to speak) to accommodate “THE DONALD”.\r\n\r\nAfter a couple of sticky weeks in January, and reviewing my TRADE PLAN for 2017, I am still in trade transition mode but I am now banking more $$$ and pips.\r\n\r\nAs mentioned recently, I continue to establish CORE POSITIONS for my longer-term trades in e.g. EUR/USD and GBP/USD, and I am happy with the progress so far. I now just need the March 15<sup>th</sup> FOMC meeting out of the way, so that I can complete the longer-term transition outlined a few weeks ago to PREMIUM SERVICE subscribers by the end of Q1.\r\n\r\nI have virtually ignored my day trading trade styles of FLASH and RADAR trades throughout this process. This has been deliberate, based upon the fact that in his earlier days as President, “THE DONALD” created chaos and disorder in the markets and frankly whilst I sit over my screens, I have numerous trades open at any one time and the inclusion of short-term trade styles would just create frustration and annoyance.\r\n\r\nAfter the FOMC meeting, I am hoping like most traders that trading will have a greater clarity moving forward. This should enable a greater trading confidence using the smaller minute charts.\r\n\r\nMoving on…\r\n\r\nLast week was a strange week. I was caught up in the emotion of the “State of The Union” address by “THE DONALD”, at the end of the day it was a 100% Presidential address, even hard line opponents had to applaud on some bi-partisan pledges. Now… whether “THE DONALD” or the Republican Party allow some of the pledges to stand is debatable, but what I will say is that “THE DONALD” has one obvious trait like “MAGGIE”, and that is - he does what he says he is going to do.\r\n\r\nFrom a trading perspective, no fireworks and the markets will always buy promises made, regardless of who says it.\r\n\r\nThere was a lot of FED speak last week ending with Janet Yellen and Stanley Fischer. It was all very positive to moving US interest rates higher sooner rather than later. Even the doves were more hawkish; the most noteworthy in my opinion was Lael Brainard.\r\n\r\nOn Friday, both Yellen and Fischer basically all but said the FED will normalize and raise rates at the March meeting. It was so clear; the markets cannot be surprised. The only annoying factor was that when Yellen finished her Q&amp;A some profit taking took place and the DXY fell lower…. argh!!\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/03/DXY-DAILY-05032017.png\"><img class=\"aligncenter size-large wp-image-9244\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/03/DXY-DAILY-05032017-1024x455.png\" alt=\"\" width=\"1024\" height=\"455\" /></a>\r\n\r\n&nbsp;\r\n\r\nIt was fascinating to see that in 4 days the market sentiment for a FED rate increase on March 15<sup>th</sup> moved from 38% to almost 90%. Crazy, and it just shows you what we are dealing with. Very reactionary… almost TRUMP LIKE.\r\n\r\nThe commentary kept the USD bid most of the week. I must admit though as the TRUMP administration and possibly soon to be “Presidential currency manipulator Donald” want the USD weaker, I was waiting upon the tweet to stop the DXY move higher in its tracks. It never happened, TRUMP was so busy with White House leaks, FBI cover ups, Russians in da house and Jeff Sessions having vodka shots, he was probably 100% contained flying from crisis meeting to crisis meeting trying to keep the syrup in position (SYRUP = Cockney rhyming slang – “syrup of fig = wig”).\r\n\r\nApart from the US news the bigger news to dominate the wires related to the UK and the EUROPEAN UNION.\r\n\r\nIn the UK, Theresa May is starting to feel the pinch on BREXIT and its potential fallout. The PMi data this week was mixed but they were over shadowed by the House of Lords amendments to the BREXIT bill and the Scottish Parliament wanting another shot at a referendum on remaining part of the UK.\r\n\r\nThe key support level of 1.2260; the 61.8% Fibonacci level of the 1.2706/1.1987 move, was broken after offering stubborn support opening the way lower for a test of the psychological 1.2000 level and then the October 2016 low of 1.1841.\r\n\r\nEUROPE, was once again dominated by the French elections. I am using EUROPE and all things happening there as my “SOAPBOX” article this week so I will save my comments, views and thoughts for later.\r\n\r\nMore…\r\n\r\nTHE WEEKLY FX DRIVE THRU – LIVE webinars.\r\n\r\nNow up to #7 this Monday. The software still gives me the creeps at times but I am now more comfortable with the content and the time 30-35 minutes in length.\r\n\r\n#7 is on Monday 6<sup>th</sup> March at 5:30PM\r\n<ul>\r\n 	<li>To attend live - you need Google Chrome as a browser.</li>\r\n 	<li>You cannot view on smart phones or tablets, only Laptops and Desktops.</li>\r\n</ul>\r\nThe “LIVE WEBINAR” link is below: -\r\n\r\n<a href=\"http://bit.ly/drivethru-live\">http://bit.ly/drivethru-live</a>\r\n\r\nIf you cannot listen live you can check out my You Tube channel,\r\n<strong><em>Scott Pickering</em></strong> <strong><em>Weekly FX Drive Thru</em></strong> for a freshly posted copy of the webinar, usually, within a couple of hours of its completion.\r\n\r\nHere is the link for my you tube channel, when I get too 100 subscribers (if I get there) I can have my own personalized shortened link. If you like the style of my webinar, please subscribe. The benefits are that as soon as a new webinar is posted you are emailed.: -\r\n\r\n<a href=\"https://www.youtube.com/channel/UCV-9VDnNkHjTPBzKqLqCGJw/videos\">https://www.youtube.com/channel/UCV-9VDnNkHjTPBzKqLqCGJw/videos</a>\r\n\r\nFinally, in this section…\r\n\r\nThe March winner of the “FREE 10-week PREMIUM SERVICE” subscription was\r\nbrian*******@gmail.com\r\n\r\nBy the time this blog is posted Brain should be loaded up and ready to go.\r\n\r\nIf you would like to be in the monthly draw to win a “FREE 10-WEEK SUBSCRIPTION” to the PREMIUM SERVICE, valued at CAD$1,000.00, all you have to do is subscribe to receive this FREE NEWSLETTER on my website <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a>  On my welcome page just below my cube logo is where you complete your subscription.\r\n\r\n<strong> </strong>\r\n<ol start=\"2\">\r\n 	<li><strong> THE FX MARKET PLACE – LOOKING FORWARD:</strong><u> </u></li>\r\n</ol>\r\n<u>ECONOMIC DATA RELEASES:</u>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/03/ECON-DATA-05032017.png\"><img class=\"aligncenter size-large wp-image-9225\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/03/ECON-DATA-05032017-1024x873.png\" alt=\"\" width=\"1024\" height=\"873\" /></a>\r\n\r\n<u>MY THOUGHTS ON THE WEEK AHEAD:</u>\r\n\r\nSeveral items catch my eye this very busy week: -\r\n<ol>\r\n 	<li>USD: Obviously, the star of the week for US data is Friday’s Non-Farm payrolls. No doubt should the number be a blow out one can consider a FED rate hike the following week nailed on.</li>\r\n 	<li>AUD: Down under we have Retail Sales and the RBA Rate statement to start the week off. The AUD has sold off of late following poor Cap Ex and GDP data. I am not expecting a change in interest rates but the commentary will be interesting to read to see is the RBA still neutral.</li>\r\n 	<li>GBP: The Tory party (UK Government) budget is released Wednesday.</li>\r\n 	<li>EUR: Draghi has a press conference this Thursday and there will be massive attention placed upon what he doesn’t say maybe rather than what he does say vis-à-vis tapering the Quantitative Easing monthly amount given the fact that EUROZONE economic data is now starting to show recovery.I think he will play everything down citing EUROZONE political risks and that any recovery is fragile.Whether he will get away with this approach is debatable… we shall see what he does.</li>\r\n 	<li>CAD: Jobs data released at the same time as US NFP. The BOC kept rates on hold last week. Jobs data has been very mixed of late with part-time workers blurring the data somewhat, so this release should show a trend… good or bad.</li>\r\n</ol>\r\nAs always bear in mind it has been news rather than economic data moving the markets so check twitter for tweets from “THE DONALD” and be aware of the BREXIT and EUROZONE possibility to deliver geopolitical news at any time totally unannounced.\r\n\r\n<u>USD MAJORS – “IMMEDIATE” SUPPORT &amp; RESISTANCE with TREND:</u>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/03/TCHART-05032017.png\"><img class=\"aligncenter size-large wp-image-9226\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/03/TCHART-05032017-1024x850.png\" alt=\"\" width=\"1024\" height=\"850\" /></a>\r\n\r\nThe charts below contain commentary (my thoughts and views), these are the USD major charts that are reflected in the spreadsheet above.\r\n\r\n<strong>EUR/USD:</strong>\r\n\r\n<strong> <a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/03/EURUSD-D-05032017.png\"><img class=\"aligncenter size-large wp-image-9236\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/03/EURUSD-D-05032017-1024x495.png\" alt=\"\" width=\"1024\" height=\"495\" /></a></strong>\r\n\r\n<strong> </strong>\r\n\r\n<strong>GBP/USD:</strong>\r\n\r\n<strong> <a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/03/GBPUSD-D-05032017.png\"><img class=\"aligncenter size-large wp-image-9237\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/03/GBPUSD-D-05032017-1024x495.png\" alt=\"\" width=\"1024\" height=\"495\" /></a></strong>\r\n\r\n<strong> </strong>\r\n\r\n<strong>AUD/USD:</strong>\r\n\r\n<strong> <a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/03/AUDUSD-D-05032017.png\"><img class=\"aligncenter size-large wp-image-9235\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/03/AUDUSD-D-05032017-1024x495.png\" alt=\"\" width=\"1024\" height=\"495\" /></a></strong>\r\n\r\n<strong> </strong>\r\n\r\n<strong>NZD/USD:</strong>\r\n\r\n<strong> <a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/03/NZDUSD-D-05032017.png\"><img class=\"aligncenter size-large wp-image-9238\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/03/NZDUSD-D-05032017-1024x495.png\" alt=\"\" width=\"1024\" height=\"495\" /></a></strong>\r\n\r\n<strong> </strong>\r\n\r\n<strong>USD/CAD:</strong>\r\n\r\n<strong> <a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/03/USDCAD-D-05032017.png\"><img class=\"aligncenter size-large wp-image-9239\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/03/USDCAD-D-05032017-1024x495.png\" alt=\"\" width=\"1024\" height=\"495\" /></a></strong>\r\n\r\n<strong> </strong>\r\n\r\n<strong>USD/CHF:</strong>\r\n\r\n<strong> <a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/03/USDCHF-D-05032017.png\"><img class=\"aligncenter size-large wp-image-9240\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/03/USDCHF-D-05032017-1024x495.png\" alt=\"\" width=\"1024\" height=\"495\" /></a></strong>\r\n\r\n<strong> </strong>\r\n\r\n<strong>USD/JPY:</strong>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/03/USDJPY-D-05032017.png\"><img class=\"aligncenter size-large wp-image-9241\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/03/USDJPY-D-05032017-1024x495.png\" alt=\"\" width=\"1024\" height=\"495\" /></a>\r\n\r\n<strong> </strong>\r\n<ol start=\"3\">\r\n 	<li><strong> THE PREMIUM SERVICE:</strong></li>\r\n</ol>\r\n<u>WHAT IS THE PREMIUM SERVICE?</u>\r\n\r\nThe PREMIUM SERVICE is a subscriber based Forex support service offering not just trade set-ups, but a bunch of different support services that differentiates the PREMIUM SERVICE from other providers, my competitors, that operate in the same space.\r\n\r\nIf you would like to watch/listen to a c.40-minute PREMIUM SERVICE webinar to learn more about what I can do to help you with your trading, all you need to do is click the link below. All of what I call my differentiation features and benefits are listed and talked about plus I show you the potential income opportunity that is available to subscribers.\r\n\r\nClick the link below and register. It is FREE… it costs nothing to listen.\r\n\r\n<a href=\"http://www.onlinemeetingnow.com/register/?id=wrklqabmy3\">http://www.onlinemeetingnow.com/register/?id=wrklqabmy3</a>\r\n\r\nIn addition, full details of the PREMIUM SERVICE and costs to subscribe plus the various trade styles and how suggested trade set-ups are communicated can be found on my website landing page at <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a> by selecting THE PREMIUM SERVICE tab.\r\n\r\nFurther information can be found by clicking TESTIMONIALS, PART-TIME TRADERS and FX PROMOTIONS tabs. To subscribe to THE PREMIUM SERVICE, you will require a valid credit card.\r\n\r\n&nbsp;\r\n<ol start=\"4\">\r\n 	<li><strong>PREMIUM SERVICE – SUBSCRIBER ONLY AREA:</strong></li>\r\n</ol>\r\n<ol start=\"5\">\r\n 	<li><strong> THE SOAPBOX:</strong></li>\r\n</ol>\r\n<strong>EUROZONE – NOT AN EXPERIMENT JUST A F**K UP</strong><strong> </strong>\r\n\r\nFor the second week running, I could have made the title of the soapbox this week: -\r\n\r\n<strong>FFS…  THIS IS A BLOODY NONSENSE</strong>\r\n\r\nTempted as I was, I decided to go with something more mainstream that Google would appreciate from an analytics perspective.\r\n\r\nI find myself constantly bashing the EUROZONE. In principle, I suppose it\'s a great idea but in the real world it is just a poor constituted fuck up. It is doomed, not a question of “if” but “when”.\r\n\r\nLast week the EUROPEAN COMMISSION released a white paper outlining 5 scenarios for the future of the EUROPEAN UNION. This emanated from the desk of the EUROPEAN COMMISSION President, Jean-Claude Junker. It was a classic effort from the desk sucking, pen pushing, jotter blotter from Brussels. As you can imagine I was over this like a rash, or a rat up a drainpipe.\r\n\r\nI do not want to replicate the paper you can search on google to find it but it had interesting section titles as follows: -\r\n<ul>\r\n 	<li>Carrying on</li>\r\n 	<li>Nothing but the single market</li>\r\n 	<li>Those who want to do more</li>\r\n 	<li>Doing less more efficiently</li>\r\n 	<li>Doing much more together</li>\r\n</ul>\r\nSounds great. As an overview from my perspective it was released in time for the 25<sup>th</sup> March 60<sup>th</sup> anniversary of the EUROPEAN UNION previously referred to as the COMMON MARKET. It is obviously intended to try and focus and harmonize the remaining members following the UK’s decision to EXIT.\r\n\r\nOn first glance, it looks real enough, the EU challenges show no sign of abating. He alludes to the fact the EU is a balancing act as many Europeans consider the EU and EUROZONE too interfering.\r\n\r\nYou can read it yourselves, but Junker still misses the point. He approaches the EUROPEAN UNION and EUROZONE purely and simply from the view of job protection for the boys and girls in Brussels. Basically, the gravy train continues. He wants continued governance from Brussels, there’s about 10,000 additional jobs, expense accounts and big pay checks with index linked pensions and private health benefits.\r\nTighter financial controls. Controls of single currency member’s budgets.\r\n\r\nNo change. He wants to secure the very things that piss people off. Remember the fruit-case from Brussels who went above the Irish government to fine Apple for tax avoidance, even though the deal was done for Apple by the Irish government utilizing Irish tax rules. WTF, has this got to do with some pen pusher in Brussels? This is the type of interference that pisses people off so I am gob smacked that Junker has done nothing to distance the bureaucracy of Brussels from an individual country’s sovereignty.\r\n\r\nMany American political and economic commentators still refer to the EUROPEAN UNION and EUROZONE as an experiment, this must wind up Brussels officials like you cannot imagine. It’s been in existence for 60 years in one form or another, so even I think the term “experiment” is a bit rich. Having said that many American commentators think EUROPE is a country and GERMANY is its capital city! Joe Kernan (CNBC) springs to mind with most EUROZONE gaffs, I still don\'t think he understands that IRELAND and NORTHERN IRELAND are two different counties with different currencies. It beggars belief he is still on TV… never mind prime time business TV.\r\n\r\nSo; when someone asks, is the EUROPEAN UNION learning from the BREXIT and forging a more inclusive way forward to include those who feel that Brussels is too interfering? Bollocks to all that let’s march on as before appears to be the mantra.\r\n\r\nIt would appear to me nothing learned, just protect the bureaucracy.\r\n\r\nHow long does the EUROPEAN UNION last.?\r\n\r\nIf Marine Le Pen is elected as the new French President it will implode and the single currency will be at 0.0050 or less in a few days. It will be a crisis to beat all crises and even the biggest can in the world to kick down the road just wouldn’t do.\r\n\r\nThe pollsters openly state that Marine Le Pen will win the first round of voting. However, she will lose the second ballot.\r\n\r\nHere are my thoughts…. amuse me for a paragraph or three…\r\n\r\nMarine Le Pen (National Front) is what can be termed a populist candidate. Like “THE DONALD” she has a fixed number of supporters that will support her no matter what. Her voting base is NOT going down. It only has one way to go.\r\n\r\nThe others: -\r\n<ul>\r\n 	<li>Benoit Hamon – Socialist</li>\r\n 	<li>Emmanuel Macron – En Marche</li>\r\n 	<li>Francois Fillon – Republican</li>\r\n 	<li>Jean-Luc Melenchon – The Left Party</li>\r\n</ul>\r\nThe above four candidates will fight it out amongst themselves to see who goes up against Le Pen in the second ballot according to the French press.\r\n\r\nThe question is how many of the voters whose candidate is not going through to round two will vote for Marine Le Pen?\r\n\r\nIs it feasible? Is it possible that Le Pens voting bloc in the second ballot will increase? I would say yes.\r\n\r\nThe question is by how much?\r\n\r\nShould Le Pen appeal in the final stages to those voters disillusioned with Brussels, who look across the English Channel to see a free UK without the constraints of the EUROPEAN UNION hanging over it as an option worth considering it is no longer a slam dunk. In fact, it’s far from a slam dunk decision. It may be unlikely but it is nevertheless a possible outcome that Le Pen could win.\r\n\r\nShould this happen, there will be no more EUROPEAN UNION, no more EUROZONE. As A founder member with Germany, I just could not see how the EU could continue. This would be a crisis, in fact, it would re-define the word.\r\n\r\nTo think that after 60 years in existence the EUROPEAN UNION is still so fragile beggar’s belief. It should by now have been unified and integrated to such an extent with all countries populations prosperous that the thought of leaving the UNION is not even an agenda item.\r\n\r\nPoliticians and self-serving bureaucrats have milked the EU for all they could benefit from at the expense of building solid foundations and creating policies to unite, grow, influence and stabilize the continent.\r\n\r\nWhat we have now is due to the fact that politicians are only interested in popularity through votes and the bureaucrats with pensions and expense accounts. There was never a credible long term view with key success factors built in to measure actual success.\r\n\r\nThe EUROPEAN UNION has failed to unite governments never mind the EU populations on many levels at different times, such as:\r\n<ul>\r\n 	<li>Defence and Security</li>\r\n 	<li>The Social Chapter</li>\r\n 	<li>Banking</li>\r\n 	<li>Taxation</li>\r\n 	<li>Debt Management and Controls</li>\r\n 	<li>Fiscal Planning and Constraints</li>\r\n 	<li>Immigration and Border Controls</li>\r\n 	<li>Freedom of Movement</li>\r\n 	<li>Food Planning (Agriculture)</li>\r\n 	<li>Health minimums</li>\r\n 	<li>Education minimums</li>\r\n</ul>\r\nThe list is endless.\r\n\r\nI know that I am always very critical of the EU and its workings. But it has just not evolved. It never matured or aged in such a way to grow, unite and bond members. It thrives on a fragmented approach to most topics. The problem that creates this is narrow minded politicians with a short time frame in office and poorly managed and focused centralized operation in Brussels, which in my opinion is self-serving rather than actually doing anything meaningful or long that they could be proud of.\r\n\r\nWithout doubt there are wins, but are they big wins? From my perspective, it’s just interference that is poorly managed or directed. The Apple case is one in question. An upstart from Brussels is in interfering in a sovereign states tax affairs.\r\n\r\nIt is somewhat similar to the Quebec governments language police who cautioned an Italian restaurant for the numbers of times it wrote PASTA on its menu.\r\n\r\nFor God\'s sake people are paid good money for these jobs that could save lives. PASTAGATE as it is now known showed how protectionist, out of touch, mis-managed Quebec as a province is. \"People can die waiting to see a Doctor, but we will not accept PASTA written on an Italian restaurants menu. Absolutely bloody ridiculous and it cannot be defended. What is the French word for PASTA?\r\n\r\nBrussels is on the same path maybe not quite so stupid in delivery as Quebec, but they are on the same road.\r\n\r\nBasically, I always return to two basic issues.\r\n<ul>\r\n 	<li>19 countries in the EUROZONE basically using the same cheque book does not work.</li>\r\n 	<li>A mix of all the different cultures has created mistrust throughout the ages and makes harmony, unification on a common purpose practically impossible</li>\r\n</ul>\r\nPlus:\r\n\r\nPoor countries cannot afford what the rich counties can afford. Some countries benefit from natural resources others don\'t, it is just not a level playing field and one size does not fit all.\r\n\r\nTrading the single currency over the coming year should be quite a ride. I am bearish and see a test of parity possibly on the cards. It will not be a straight move lower as some have predicted. We should in my opinion push and pull our way lower.\r\n\r\nWe have major headwinds in the EUROPEAN UNION: -\r\n<ul>\r\n 	<li>Elections in FRANCE</li>\r\n 	<li>Elections in GERMANY</li>\r\n 	<li>Elections in HOLLAND</li>\r\n 	<li>The UK BREXIT to deal with “cleanly”</li>\r\n 	<li>ITALIAN Bank debt to sort out and fix</li>\r\n 	<li>GREECE bailout Act IV</li>\r\n</ul>\r\nThere is so much uncertainty in that list above, the single currency should move lower.\r\n\r\nWith a US FED raising rates we have divergent policies between the hawkish FED and the dovish ECB. Mario Draghi simply cannot afford to stop supporting the single currency given the uncertainties ahead and Janet Yellen has now indicated in the clearest language possible that the FED is embarking on a rate rising monetary policy program.\r\n\r\n&nbsp;\r\n<ol start=\"6\">\r\n 	<li><strong> CLOSING THOUGHTS:</strong></li>\r\n</ol>\r\nNothing more to add here, I have said enough except,\r\n\r\nAs usual…\r\n\r\nAlways remember longevity in Forex trading can only be achieved through trading with good RISK and MONEY MANAGEMENT, and above all set your position sizes in accordance with the size of your account and allow for some flexibility.\r\n\r\nTake care, have a great trading week.\r\n\r\nScott Pickering\r\nThe Pip Accumulator\r\nTwitter: @pipaccumulator\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/disclaimer/\">http://weeklyfxdrivethru.com/disclaimer/</a>\r\n\r\nBLOG VERSION: #234 FREE NEWSLETTER\r\nDATE: 5<sup>th</sup> March 2017.\r\n\r\n&nbsp;\r\n\r\n&nbsp;','EUROZONE – NOT AN EXPERIMENT JUST A F**K UP','','publish','open','closed','','eurozone-not-experiment-just-fk','','','2017-03-05 03:35:22','2017-03-05 08:35:22','',0,'https://weeklyfxdrivethru.com/?p=9252',0,'post','',0),(9490,1,'2017-05-13 15:55:16','2017-05-13 20:55:16','','EURUSD DAILY 14052017','','inherit','open','closed','','eurusd-daily-14052017','','','2017-05-14 12:21:12','2017-05-14 17:21:12','',9496,'https://weeklyfxdrivethru.com/wp-content/uploads/2017/05/EURUSD-DAILY-14052017.png',0,'attachment','image/png',0),(9491,1,'2017-05-13 15:55:28','2017-05-13 20:55:28','','GBPUSD DAILY 14052017','','inherit','open','closed','','gbpusd-daily-14052017','','','2017-05-14 12:21:28','2017-05-14 17:21:28','',9496,'https://weeklyfxdrivethru.com/wp-content/uploads/2017/05/GBPUSD-DAILY-14052017.png',0,'attachment','image/png',0),(8917,16,'2017-01-09 10:46:01','2017-01-09 15:46:01','<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/12/POSITION-SIZING-01-2017.png\"><img class=\"aligncenter 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href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/12/POSITION-SIZING-01-2017.png\"><img class=\"aligncenter size-large wp-image-8834\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/12/POSITION-SIZING-01-2017-1024x649.png\" alt=\"\" width=\"1024\" height=\"649\" /></a>','RISK / POSITING SIZING','','inherit','closed','closed','','8783-revision-v1','','','2017-01-09 10:59:37','2017-01-09 15:59:37','',8783,'http://weeklyfxdrivethru.com/8783-revision-v1/',0,'revision','',0),(8921,16,'2017-01-09 11:00:24','2017-01-09 16:00:24','<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/CB-MEETING-DATES-2018.png\"><img class=\"aligncenter size-large wp-image-10625\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/CB-MEETING-DATES-2018-834x1024.png\" alt=\"\" width=\"834\" height=\"1024\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/08/SUBSCRIPTION-CHANGES-FALL2017.png\"><img class=\"aligncenter size-large wp-image-9907\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/08/SUBSCRIPTION-CHANGES-FALL2017-799x1024.png\" alt=\"\" width=\"799\" height=\"1024\" /></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<img class=\"aligncenter size-large wp-image-8874\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/CB-INTEREST-RATES-2017-810x1024.png\" alt=\"\" width=\"810\" height=\"1024\" />\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n&nbsp;','NEWSBOARD','','publish','closed','closed','','newsboard','','','2017-12-14 12:04:10','2017-12-14 17:04:10','',0,'http://weeklyfxdrivethru.com/?page_id=8921',0,'page','',0),(10627,1,'2017-12-14 12:04:10','2017-12-14 17:04:10','<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/CB-MEETING-DATES-2018.png\"><img class=\"aligncenter size-large wp-image-10625\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/CB-MEETING-DATES-2018-834x1024.png\" alt=\"\" width=\"834\" height=\"1024\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/08/SUBSCRIPTION-CHANGES-FALL2017.png\"><img class=\"aligncenter size-large wp-image-9907\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/08/SUBSCRIPTION-CHANGES-FALL2017-799x1024.png\" alt=\"\" width=\"799\" height=\"1024\" /></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<img class=\"aligncenter size-large wp-image-8874\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/CB-INTEREST-RATES-2017-810x1024.png\" alt=\"\" width=\"810\" height=\"1024\" />\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n&nbsp;','NEWSBOARD','','inherit','closed','closed','','8921-revision-v1','','','2017-12-14 12:04:10','2017-12-14 17:04:10','',8921,'https://weeklyfxdrivethru.com/8921-revision-v1/',0,'revision','',0),(10436,1,'2017-11-23 11:03:33','2017-11-23 16:03:33','&nbsp;\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/08/RISK-POSITION-SIZING-01092017.png\"><img class=\"aligncenter size-large wp-image-9909\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/08/RISK-POSITION-SIZING-01092017-964x1024.png\" alt=\"\" width=\"964\" height=\"1024\" /></a><a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/08/SUBSCRIPTION-CHANGES-FALL2017.png\"><img class=\"aligncenter size-large wp-image-9907\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/08/SUBSCRIPTION-CHANGES-FALL2017-799x1024.png\" alt=\"\" width=\"799\" height=\"1024\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/NOTICEBOARD-28012017.png\"><img class=\"aligncenter size-large wp-image-9026\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/NOTICEBOARD-28012017-1024x940.png\" alt=\"\" width=\"1024\" height=\"940\" /></a>\r\n\r\n<img class=\"aligncenter size-large wp-image-8874\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/CB-INTEREST-RATES-2017-810x1024.png\" alt=\"\" width=\"810\" height=\"1024\" />\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n&nbsp;','NEWSBOARD','','inherit','closed','closed','','8921-revision-v1','','','2017-11-23 11:03:33','2017-11-23 16:03:33','',8921,'https://weeklyfxdrivethru.com/8921-revision-v1/',0,'revision','',0),(9896,1,'2017-08-29 06:26:23','2017-08-29 11:26:23','&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/08/PS-PROFITS-TO-31072017.png\"><img class=\"aligncenter size-large wp-image-9856\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/08/PS-PROFITS-TO-31072017-960x1024.png\" alt=\"\" width=\"960\" height=\"1024\" /></a><a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/TRADING-SCHEDULE-HOLIDAYS-2017.png\"><img class=\"aligncenter size-large wp-image-9413\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/TRADING-SCHEDULE-HOLIDAYS-2017-1024x946.png\" alt=\"\" width=\"1024\" height=\"946\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/03/BLOG-DATES-2017.png\"><img class=\"aligncenter size-large wp-image-9285\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/03/BLOG-DATES-2017-641x1024.png\" alt=\"\" width=\"641\" height=\"1024\" /></a>\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/NOTICEBOARD-28012017.png\"><img class=\"aligncenter size-large wp-image-9026\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/NOTICEBOARD-28012017-1024x940.png\" alt=\"\" width=\"1024\" height=\"940\" /></a>\r\n\r\n<img class=\"aligncenter size-large wp-image-8874\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/CB-INTEREST-RATES-2017-810x1024.png\" alt=\"\" width=\"810\" height=\"1024\" />\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/12/POSITION-SIZING-01-2017.png\"><img class=\"aligncenter size-large wp-image-8834\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/12/POSITION-SIZING-01-2017-1024x649.png\" alt=\"\" width=\"1024\" height=\"649\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;','NEWSBOARD','','inherit','closed','closed','','8921-revision-v1','','','2017-08-29 06:26:23','2017-08-29 11:26:23','',8921,'https://weeklyfxdrivethru.com/8921-revision-v1/',0,'revision','',0),(8923,16,'2017-01-09 11:02:06','2017-01-09 16:02:06',' ','','','publish','closed','closed','','newsboard','','','2017-12-13 13:38:49','2017-12-13 18:38:49','',0,'http://weeklyfxdrivethru.com/?p=8923',2,'nav_menu_item','',0),(10631,1,'2017-12-14 12:14:36','2017-12-14 17:14:36','<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/RISK-MGMT-POS-SIZING-JAN2018.png\"><img class=\"aligncenter size-large wp-image-10626\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/RISK-MGMT-POS-SIZING-JAN2018-1019x1024.png\" alt=\"\" width=\"1019\" height=\"1024\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/PREM-SERV-BIG-LOGO.png\"><img class=\"aligncenter  wp-image-10505\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/PREM-SERV-BIG-LOGO-1024x395.png\" alt=\"\" width=\"521\" height=\"201\" /></a>\r\n<p style=\"text-align: center;\"><strong><span style=\"font-size: 16pt;\">RISK MANAGEMENT:</span></strong>\r\n<span style=\"font-size: 14pt;\">MY POSITION SIZING from TRADE SET UPS</span>\r\n(This document refers to the excel spreadsheet titled RISK MANAGEMENT)</p>\r\n&nbsp;\r\n\r\nAn explanation….\r\n\r\nFirstly, this is NOT an instruction.\r\n\r\nRISK TOLERANCE is a very personal thing when it comes to trading. My RISK TOLERANCE could be larger or smaller than yours.\r\n\r\nWe all have different Financial situations and our Broker Accounts are all different vis-à-vis our trading balances.\r\n\r\nTherefore, please DO NOT treat this as something in tablets of stone. You MUST adapt this to your trading style and most importantly your RISK.\r\n\r\nThis year (2018), I have introduced another trading style (MOMENTUM TRADES) to try to keep my trading adaptive and fresh to the marketplace and also meet the needs of my subscribers.\r\n\r\nThe POSITION SIZING TABLE (excel spreadsheet) emanated from the fact that some subscribers wanting to know roughly what RISK I was applying to trades back in 2016.\r\n\r\nIt is simply my RISK per trade taken based upon which one of my trading accounts the trade emanates from and related to the TRADE STYLE taken.\r\n\r\nIt is broken down by trading pairs; it shows you what I would usually trade in position size (LOTS) for a 100% trade; and then breaks it down by the percentages that I quote on twitter via @ThePremService and through the email excel trade sheets that follow the tweet.\r\n\r\nIt is based only on LOT SIZING per trade.\r\n\r\nWhen I post say 25% this is my entry size.\r\n\r\nIf I add to that trade with a second trade again at 25% and have two trades running I will be at 50%. i.e. EUR/USD two at 25% trades = 5 x MINI + 5 x MINI = 10 x MINI LOTS = 1 STANDARD lot.\r\n\r\nThe percentage RISK per trade is something else and is taken into considering by the position of the STOP LOSS. i.e. 3% risk per trade on a $100,000 account = $3,000 maximum RISK.\r\n\r\nREMEMBER &amp; NOTE: As everyone trades with different sizes of accounts you need to, if you were matching my trades, trade with the amount of lots you can afford to meet my STOP LOSS and be inside your own RISK TOLERANCE levels. As stated mine is 3%.\r\n\r\nI have subscribers that trade with bigger accounts that I do and many trade micro lots and mini lots only.\r\n\r\nI can only indicate what RISK that I am applying based upon my account sizes. You must relate this to your own personal circumstances.\r\n\r\nScott Pickering\r\nThe Pip Accumulator\r\nJanuary 1st 2018\r\n\r\n&nbsp;\r\n\r\n&nbsp;','Risk Management','','inherit','closed','closed','','10548-revision-v1','','','2017-12-14 12:14:36','2017-12-14 17:14:36','',10548,'https://weeklyfxdrivethru.com/10548-revision-v1/',0,'revision','',0),(8933,1,'2017-01-13 17:01:33','2017-01-13 22:01:33','','T CHART 15012017','','inherit','open','closed','','t-chart-15012017','','','2017-01-14 12:02:57','2017-01-14 17:02:57','',8944,'http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/T-CHART-15012017.png',0,'attachment','image/png',0),(8934,1,'2017-01-13 17:01:37','2017-01-13 22:01:37','','ECON DATA 15012017','','inherit','open','closed','','econ-data-15012017','','','2017-01-14 12:02:25','2017-01-14 17:02:25','',8944,'http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/ECON-DATA-15012017.png',0,'attachment','image/png',0),(8937,1,'2017-01-13 17:10:32','2017-01-13 22:10:32','','AUDUSD D 15012017','','inherit','open','closed','','audusd-d-15012017','','','2017-01-14 12:03:46','2017-01-14 17:03:46','',8944,'http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/AUDUSD-D-15012017.png',0,'attachment','image/png',0),(8938,1,'2017-01-13 17:10:36','2017-01-13 22:10:36','','EURUSD D 15012017','','inherit','open','closed','','eurusd-d-15012017','','','2017-01-14 12:03:23','2017-01-14 17:03:23','',8944,'http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/EURUSD-D-15012017.png',0,'attachment','image/png',0),(8939,1,'2017-01-13 17:10:41','2017-01-13 22:10:41','','GBPUSD D 15012017','','inherit','open','closed','','gbpusd-d-15012017','','','2017-01-14 12:03:36','2017-01-14 17:03:36','',8944,'http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/GBPUSD-D-15012017.png',0,'attachment','image/png',0),(8940,1,'2017-01-13 17:10:46','2017-01-13 22:10:46','','NZDUSD D 17012017','','inherit','open','closed','','nzdusd-d-17012017','','','2017-01-14 12:03:58','2017-01-14 17:03:58','',8944,'http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/NZDUSD-D-17012017.png',0,'attachment','image/png',0),(8941,1,'2017-01-13 17:10:52','2017-01-13 22:10:52','','USDCAD D 15012017','','inherit','open','closed','','usdcad-d-15012017','','','2017-01-14 12:04:08','2017-01-14 17:04:08','',8944,'http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/USDCAD-D-15012017.png',0,'attachment','image/png',0),(8942,1,'2017-01-13 17:10:57','2017-01-13 22:10:57','','USDCHF D 15012017','','inherit','open','closed','','usdchf-d-15012017','','','2017-01-14 12:04:18','2017-01-14 17:04:18','',8944,'http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/USDCHF-D-15012017.png',0,'attachment','image/png',0),(8943,1,'2017-01-13 17:11:02','2017-01-13 22:11:02','','USDJPY D 15012017','','inherit','open','closed','','usdjpy-d-15012017','','','2017-01-14 12:04:28','2017-01-14 17:04:28','',8944,'http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/USDJPY-D-15012017.png',0,'attachment','image/png',0),(8944,1,'2017-01-14 12:11:39','2017-01-14 17:11:39','&nbsp;\r\n<ol>\r\n 	<li><strong>INTRODUCTION:</strong></li>\r\n</ol>\r\nTo say that the first week back trading after the holidays was “interesting” would be the biggest understatement ever and worthy of a paragraph or two in the “Guinness Book of Records”.\r\n\r\nI have never witnessed a press conference like “THE DONALDS”, (I can’t even keep a straight face when I write President Elect) ever in my 60 years on this planet. To say that it was a circus is an insult to Chipperfields, Barnum’s and Billy Smarts, however, it was so entertaining I let trades fly way in the aftermath as I wanted to see how CNN (The fake news TV network) would react.\r\n\r\nLet me just say, I think that CNN is condescending to its viewers, trashy, badly programmed with smug presenters who think they know everything about everyone and every subject in the world. Frankly it is NOT a news channel, it lost that classification months ago when it gave up news in favour of the nightly 8 around the table lets shout at and across each other broadcast. These people were alleged well informed guests and mostly “paid contributors” brought on to say what the station wanted. At times, it was a toss-up, between the comedy channel and CNN, they both made me laugh as much as each other.\r\n\r\nI firmly believe the career politicians on the hill who are blockages to reform, will be called out the same way that CNN was last Wednesday. TRUMP could not give a shit. He has his agenda. He will work it and like Mr. Magoo he will boldly walk forward never looking back to see the chaos and disorder left behind him. Get used to it. This is the way that things are going to be. Expect the unexpected. CNN look like they are screwed moving forwards as far as THE DONALD is concerned and in a very rushed, one could say childish response they released a press statement denying all charges.\r\n\r\nIn the run up to the election the “experts” on CNN had a real go at TRUMP, for what may be good reason, but the “He’s just not doing it the right way” approach and consistent message was way off point. They missed the feelings of the voters just like the Democrats and were completely perplexed by the election result.\r\n\r\nAll this stuff in the US about the popular vote is sour grapes and frankly is energy that could be put to better use. In an election that is NOT based upon proportional representation, it happens lots of times that the winner may not have the popular vote as well. Suck it up and move on. The only solution is electoral reform, and if you go down the route of proportional representation, you end up with coalitions that are usually weak and bugger all that was proposed and mandated never gets done.\r\n\r\nSo…. welcome 2017... not just a new year but a new way.\r\n\r\nI had EUR/USD and USD/CHF long term trades open during the press conference. They are long, long-term trades. They were up and down, up and down like a hooker’s knickers. Small positions based on POSITION STYLE trades off the monthly ATR so they do not worry me, but the volatility was huge…”bigly” (as Trump would say).\r\n\r\nHere is an easy prediction for the next 4 years... more of the same!!\r\n\r\nMoving on…\r\n\r\nI did my first PERISCOPE BROADCAST last Monday, despite my microphone not working. This Monday the 16<sup>th</sup> at 5:30PM EST is PERISCOPE #2 and I am borrowing my wife’s headset, therefore the “hearing me” issues should be eradicated. If you want to hear me log into PERISCOPE, my twitter address is @pipaccumulator.\r\n\r\nFinally, <a href=\"mailto:jc*******@gmail.com\">jc*******@gmail.com</a> is the first subscriber this year to receive a FREE 10 week PREMIUM SERVICE subscription, valued at CAD$1,000.00.\r\n\r\nThis could be you. All you have to do to be a winner of the monthly draw is to register to receive this blog via email by signing up for the FREE NEWSLETTER on my welcome page at <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a> it is as simple as that.\r\n\r\n<strong> </strong>\r\n<ol start=\"2\">\r\n 	<li><strong> THE FX MARKET PLACE – LOOKING FORWARD:</strong></li>\r\n</ol>\r\n<strong><u>NOTE:</u></strong> This year, 2017, I am not going to look backwards in this section only forwards. News items / points of interest from the prior week will be covered in the introduction.\r\n\r\n<u>ECONOMIC DATA RELEASES:</u>\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/ECON-DATA-15012017.png\"><img class=\"aligncenter size-large wp-image-8934\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/ECON-DATA-15012017-1021x1024.png\" alt=\"\" width=\"1021\" height=\"1024\" /></a>\r\n\r\n&nbsp;\r\n\r\n<u>MY THOUGHTS ON THE WEEK AHEAD:</u>\r\n\r\nA lot more economic data being released this coming week.\r\n\r\nThe high spot in the FX world, will of course be the ECB Press Conference, I doubt even another attacker on Draghi could create the same effect as the “TRUMP” press conference last week. It should be a far more businesslike sedate affair with the high noteworthy comments based around either a blue tie or red tie being worn!!\r\n\r\nThe BOC press conference in Canada will be very similar to that of the RBNZ… a few of the chaps sitting around drinking coffee and biscuits hanging on every breath that Stephen Poloz the BOC Governor takes. Apart from Vancouver, high-end house prices are rampant in Canada. Measures taken in Vancouver to stop outside investors bumping up prices have worked, but all that has happened is that those investors have moved east. There is a huge bubble about to burst in the housing market and this drive a wedge like a hot knife through butter, possibly triggering recession talks.\r\n\r\nI do not expect a rate cut this week, in fact, I expect Poloz to keep a neutral position like the RBNZ and to some extent the RBA. However, beneath his comments the Canadian economy has big risks in play.\r\n\r\nI have given up on the BOC being anything other than ultra Conservative; their reaction is comparable to that of a dinosaur.\r\n\r\nUK and Australian jobs are also on the agenda and they are usually market movers. Do not forget the Dairy auction prices, I wish I could. The NZD is without doubt the most over-valued pain in the arse currency to trade…. I always feel a little better after I have written that…. that damn flightless bird!! Those of you who are PREMIUM SERVICE subscribers will know where I am coming from.\r\n\r\n<u> </u>\r\n\r\n<u>USD MAJORS – “IMMEDIATE” SUPPORT &amp; RESISTANCE with TREND:</u>\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/T-CHART-15012017.png\"><img class=\"aligncenter size-large wp-image-8933\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/T-CHART-15012017-1024x805.png\" alt=\"\" width=\"1024\" height=\"805\" /></a>\r\n\r\nMy trade charts for the USD majors are below. My thoughts, views and commentary is written on the charts.\r\n\r\nYou will find my charts, hopefully easy to follow. I only use Fibonacci levels, trend lines, confluence points and sometimes chart patterns to identify my high probability trades. If you have any difficulty understanding the points that I am trying to make, please do not hesitate to contact me.\r\n\r\nEUR/USD:\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/EURUSD-D-15012017.png\"><img class=\"aligncenter size-large wp-image-8938\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/EURUSD-D-15012017-1024x496.png\" alt=\"\" width=\"1024\" height=\"496\" /></a>\r\n\r\n&nbsp;\r\n\r\nGBP/USD:\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/GBPUSD-D-15012017.png\"><img class=\"aligncenter size-large wp-image-8939\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/GBPUSD-D-15012017-1024x496.png\" alt=\"\" width=\"1024\" height=\"496\" /></a>\r\n\r\n&nbsp;\r\n\r\nAUD/USD:\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/AUDUSD-D-15012017.png\"><img class=\"aligncenter size-large wp-image-8937\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/AUDUSD-D-15012017-1024x496.png\" alt=\"\" width=\"1024\" height=\"496\" /></a>\r\n\r\n&nbsp;\r\n\r\nNZD/USD:\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/NZDUSD-D-17012017.png\"><img class=\"aligncenter size-large wp-image-8940\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/NZDUSD-D-17012017-1024x496.png\" alt=\"\" width=\"1024\" height=\"496\" /></a>\r\n\r\n&nbsp;\r\n\r\nUSD/CAD:\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/USDCAD-D-15012017.png\"><img class=\"aligncenter size-large wp-image-8941\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/USDCAD-D-15012017-1024x496.png\" alt=\"\" width=\"1024\" height=\"496\" /></a>\r\n\r\n&nbsp;\r\n\r\nUSD/CHF:\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/USDCHF-D-15012017.png\"><img class=\"aligncenter size-large wp-image-8942\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/USDCHF-D-15012017-1024x496.png\" alt=\"\" width=\"1024\" height=\"496\" /></a>\r\n\r\n&nbsp;\r\n\r\nUSD/JPY:\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/USDJPY-D-15012017.png\"><img class=\"aligncenter size-large wp-image-8943\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/USDJPY-D-15012017-1024x496.png\" alt=\"\" width=\"1024\" height=\"496\" /></a>\r\n\r\n<strong>\r\n\r\n</strong>\r\n\r\n&nbsp;\r\n<ol start=\"3\">\r\n 	<li><strong>THE PREMIUM SERVICE:</strong></li>\r\n</ol>\r\n<u>WHAT IS THE PREMIUM SERVICE:</u>\r\n\r\nThe PREMIUM SERVICE is a subscriber, fee based trade set-up option for Forex traders regardless of experience or background. I provide traders suggested trades, and some market commentary related to open trades or factors within the overall market that have my interest.\r\n\r\nFull details of the PREMIUM SERVICE and costs to subscribe plus the various trade styles and how suggested trade set-ups are communicated can be found on my website landing page at <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a> by selecting THE PREMIUM SERVICE tab.\r\n\r\nAdditional information can be found by clicking TESTIMONIALS, PART-TIME TRADERS and FX PROMOTIONS tabs. To subscribe to THE PREMIUM SERVICE, you will require a valid credit card.\r\n\r\n<strong> </strong>\r\n\r\n&nbsp;\r\n<ol start=\"4\">\r\n 	<li><strong>PREMIUM SERVICE – SUBSCRIBER CONTENT AREA:</strong></li>\r\n</ol>\r\n<u>TRADING REVIEW:</u>\r\n\r\nWas last week successful?\r\n\r\nOver all we made pips, so I suppose yes. However, as Vicky Pollard from Little Britain would say… “yes but, no but, yes but, no but, yes but”\r\n\r\nYes; we made a few pips but it was a swings and roundabouts week. RADAR and FUNDAMENTAL trades struggled to gain traction whilst POSITION trades took the glory.\r\n\r\nI am making money, but just about. The smaller position sized POSITION trades are generating pips but the smaller pip losses with the RADAR and FUNDAMENTAL trades are with larger trading positions therefore it is almost as if one negates the other profit wise.\r\n\r\nI have noted that during this past week I have let over 225 pips of profit disappear. It’s not as much of a “woulda kinda shoulda coulda” call, it’s just to let us all be aware that the markets, at least the FX market, is just not directional. It is a pain in the arse at the moment, as I keep telling my wife. There appears to be little conviction. I am trying to let trades develop but it is difficult on many occasions to protected say 50 pips of profit before the trade reverses back in your face.\r\n\r\nI call it frustrating and annoying. It will change though. We are in strange times where the Forex markets are having to re-balance and take stock after the huge on the back of promises moves that took place into the year-end of 2016. This period of consolidation is both normal and healthy for the market.\r\n\r\n<u> </u>\r\n\r\n<u>MOVING FORWARD:</u>\r\n\r\nThis is what I wrote last week.\r\n<p style=\"text-align: center;\"><span style=\"color: #0000ff;\"><em>We have the TRUMP inauguration to look forward to, followed by the fireworks, and I do not mean the ones that mostly go up into the sky.</em></span></p>\r\n<p style=\"text-align: center;\"><span style=\"color: #0000ff;\"><em>We will endure a period of uncertainty and bold and brash statements as the TRUMP approach will be to turn the long-established log jams in Washington upside down and inside out. I fully expect him to name and shame those who block moves. It should be interesting as voters will be able to see if their elected representative is a mover or a blocker.</em></span></p>\r\n<p style=\"text-align: center;\"><span style=\"color: #0000ff;\"><em>From a trading perspective, we will have uncertainty in these unchartered waters in the U.S.</em></span></p>\r\n<p style=\"text-align: center;\"><span style=\"color: #0000ff;\"><em>The EUROZONE, frankly a bit laughable and there will be massive uncertainty for the next 6 months. I want to try to establish some longer-term POSITION TRADES with the single currency and to some extent the USD/CHF as well, but a short-term flight to safety trade even with negative interest rates does concern me. Maybe I have some sort of vitamin deficiency or something, but I am not comfortable trading unless I have some CHF exposure to the short side (CHF).</em></span></p>\r\nI think that I have nailed both issues pretty much head on with nothing else to say.\r\n\r\n<u> </u>\r\n\r\n<u>CORE TRADES:</u>\r\n<ol>\r\n 	<li>AUD/NZD: – Frustrating as it is I am still a believer. I will continue to add on pullbacks and lift off 50 -100 pip gains as they become available. Patience is the key.</li>\r\n 	<li>I have also added the EUR/NZD to the NZD portfolio, but, I do not think that this will be a very long term addition. I expected a large move higher in this pair, for now we are trapped in a 150-pip trading range. I now have two LIVE trades plus a “BUY STOP” limit order in place. I did believe that this pair would be well in a healthy positive position by now. It looks like I will need to be patient and bide my time.</li>\r\n 	<li>NZD/USD: – I have started to build, and I will be adding again.\r\n\r\nThe RBNZ is in control, and in my opinion, this is one of the most overpriced currencies in the market at this moment in time. Central Bank divergence should play its part in having this currency revalue organically, but with most, if not all FX fundamentals, patience will be required.\r\n\r\nChina does concern me. I believe the GDT auctions will be more NZD negative this year as the China family birth control factors will kick in stronger.\r\n\r\nThe TRUMP factor on China may help my longer-term views?</li>\r\n 	<li>AUD/USD: - Started to add positions. I am a little concerned following THE DONALDS press conference that the commodity currencies are in for a ride higher. Correlations are off. Even with equity markets pulling back the AUD/USD &amp; NZD/USD are strengthening. I am looking around thinking that this is just a short-term factor.</li>\r\n 	<li>EUR/USD and USD/CHF: - Core positions now being established and I am looking to add more trades as the month progresses.\r\n\r\nAlways going to be looking to add, I think that for at least Q1 and Q2 the EUROZONE will remain under downside pressures. If BREXIT negotiations are difficult, which I believe they should be, the German desire for the ECB to raise rates could be seen for what it is, which is, in an election year pure and utter propaganda to win over the German savers who have been taken to the cleaners with zero savings interest rates for many years now and at all elections they are being fed a plate of empty promises.</li>\r\n</ol>\r\n&nbsp;\r\n\r\n<u>PERISCOPE:</u>\r\n\r\nPERISCOPE #2 will air Monday 16<sup>th</sup> January at 5:30PM EST via @pipaccumulator.\r\n\r\n<strong> </strong>\r\n\r\n<u>PREMIUM SERVICE - TRADES REVIEW<strong>:</strong></u>\r\n\r\nCURRENT PREMIUM SERVICE - LIVE TRADES:\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/LIVE-TRADES-15012017.png\"><img class=\"aligncenter size-large wp-image-8936\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/LIVE-TRADES-15012017-778x1024.png\" alt=\"\" width=\"778\" height=\"1024\" /></a>\r\n\r\nCURRENT PREMIUM SERVICE – LIMIT ORDER TRADES:\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/LIMIT-ORDERS-15012017.png\"><img class=\"aligncenter size-large wp-image-8935\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/LIMIT-ORDERS-15012017-737x1024.png\" alt=\"\" width=\"737\" height=\"1024\" /></a>\r\n\r\n&nbsp;\r\n<ol start=\"5\">\r\n 	<li><strong>SCOTT’S SOAPBOX:</strong></li>\r\n</ol>\r\nIf you recall, in my final “DRIVE THRU” of 2016, I provided a list of TRADING PREDICTIONS for 2017. I basically named several geopolitical events that I feel will weigh on the markets this year. Therefore, for the first few weeks of 2017, I want to look at these events in a little more detail.\r\n\r\nAs you will be aware, so much has been said already on the subjects that I have highlighted, I can only add points and views that are my own, based upon how I see things and how I am going to view trading around these events.\r\n<p style=\"text-align: center;\"><strong>THE EUROZONE “RISKS”</strong></p>\r\nI am a simple guy; originally from Liverpool, England. I like my football and I love Cricket and Formula 1 racing. I am neat and tidy about the house, everything has its place. My computers are orderly; everything is in folders. I have spreadsheets everywhere and spreadsheets for everything. I consider myself reasonably well organized.\r\n\r\nCan you possibly understand what a person with my disciplines at home must think of the EUROZONE?\r\n\r\nThe EUROZONE is everything I am not. Yet given the headcount and the minimal amount of actual work required to function, the EUROZONE could be the envy of all administrators and desk office organizers in the world. Why aren’t they?\r\n\r\nThe EUROZONE could be the “best practice” example touted all over the globe. However, it is not.\r\n\r\nThe EUROZONE is wasteful, costly, still an experiment and frankly completely lacking in an effective organizational structure. It is basically a shamble.\r\n\r\nThis begs the obvious question…\r\n\r\n“In the name of all that is Holy how the feck is still in existence?”\r\n\r\nThat is the “Who wants to be a Millionaire” $64,000.00 question… I don\'t know the answer.\r\n\r\nHow does this shambolic organization still manage to remain in existence? I did not use the words work or working deliberately when writing about the EUROZONE because that would mislead people.\r\n\r\nIf a visiting spaceship was to land in Brussels and go into one of the many EUROPEAN UNION buildings to “suss” out us humans of the planet earth, I reckon the would be fecked off out of Brussels within the hour, reporting back to base along the lines of “This planet is full of fecking idiots who do not know their arse’s from their elbows, leave these numpties alone - nothing to see here”.\r\n\r\nOn a serious note if there are beings from outer space let’s hope they do land in Brussels and not Silicone Valley. It’s a well-known fact you will get no common sense out of Brussels and any response you do get, you will not understand anyway. In Silicon Valley, they might actually see something worth talking.\r\n\r\nMoving on…\r\n\r\nOver the past five years or so, I have written so many times about the EUROZONE it just has to be my favourite subject. There is NOTHING about the EUROZONE that makes sense to me… I struggle to find just one thing.\r\n\r\nMaybe the fact that Brussels is connected via the Channel Tunnel by high speed train from London is a good thing. Feck all use that\'s going to be after BREXIT… no nothing good about Brussels.\r\n\r\nBack on track…\r\n\r\nBrussels is the “Can kicking down the road” world’s best champion. Every major issue, results with fudging the answer or providing a stop gap the solution. It is paradise for civil servants… maintain the status quo… do not rock the boat and plunder your way from catastrophe to catastrophe all without consequence as these people are all non-elected individuals. It is a Sir Humphrey Appleton existence, a plethora of pen pushing, desk sucking jotter blotters.\r\n\r\nThe EUROPEAN UNION politicians are only interested in popularity and accusations, pointing fingers and blaming their predecessors, they are simply not good at, or interested in fixing things and along with the Brussels civil service it is a marriage made in heaven.\r\n\r\nAll of this comes at a cost.\r\n\r\nWe have seen a dreadful failed German initiated policy of austerity, which plunged huge percentages of the population of Europe into unemployment, with failing support services like health, education and welfare being starved of cash at a time when it was needed the most.\r\n\r\nPensions were reduced, terms of employment extended… so much hardship was inflicted on the poorest part of the EU. Not exactly what you would call a union!!\r\n\r\nThere are 28 countries (at the moment) in the EUROPEAN UNION. 19 of these countries has adopted the single currency (EUR). This is effectively 19 countries with different needs, wants and desires and cultures using the same cheque book to function.\r\n\r\n19 into 1 does not go…!\r\n\r\nWhen times are hard this scenario of 19 into 1 is just exacerbated more and more. The one size fits all just DOES NOT work.\r\n\r\nBorn out of the EEC in 1999, the EUROPEAN UNION has had 17 years to fix basic standards of membership on:\r\n<ul>\r\n 	<li>Tax Harmonization.</li>\r\n 	<li>Banking procedures.</li>\r\n 	<li>Social integration.</li>\r\n 	<li>Immigration</li>\r\n 	<li>Defence</li>\r\n</ul>\r\nI could write more. None of the above work. We are 17 years into a project, an experiment and frankly 17 years from now if the EUROZONE / EUROPEAN UNION is still in existence, it will probably mean that, “Hell must have frozen over” there can be no other explanation.\r\n\r\nThis year the EUROZONE / EUROPEAN UNION faces its biggest test so far, the “RISKS” are monumental.\r\n<ul>\r\n 	<li>BREXIT</li>\r\n 	<li>A BREXIT CONTAGION</li>\r\n 	<li>RISE IN THE POPULIST VOTE</li>\r\n 	<li>IMMIGRATION INTO THE UNION</li>\r\n 	<li>ELECTIONS IN FRANCE, HOLLAND &amp; GERMANY</li>\r\n 	<li>GREEK DEBT – ACT IV</li>\r\n</ul>\r\nThere are a few more but let’s just stick with these standouts.\r\n\r\nThe EU is a disaster at problem solving, it could NOT coordinate a round of drinks for everyone even if they were sat in a brewery at the time.\r\n\r\nThere are concerns over a BREXIT CONTAGION, this is a real fear and it has never been addressed fully by the remaining EU partners.\r\n\r\nI sometimes wonder does GERMANY want the EU to fail so they can blame the BREXIT and its fallout. This matter would definitely help all the German politicians and growing number of anti-European voices being heard in Germany.\r\n\r\nThe fact that apart from the “No special deals for the UK” nothing has been done to unify the remaining members to keep the far-right parties under wraps. In fact, the very opposite has taken place in FRANCE and ITALY…so far.\r\n\r\nThe immigration issue was the primary factor that pushed the BREXIT vote to win the day. Border controls are critical at most times given the terrorist society that we all live in now. Immigration into the EU is like a leaky bucket. Access into the EU illegally is simple through GREECE, ITALY, FRANCE and SPAIN etc. Whilst there are measures in place they are over-whelmed. The legal routes are at breaking point.  There are some really sad cases and immigration rights can be argued for some, but for the volumes and costs that go with it, it is crippling and it is not measured accurately because the authorities at the access points are snowed under.\r\n\r\nThe populist vote is on the rise.\r\n<ul>\r\n 	<li>Sovereignty</li>\r\n 	<li>Representation</li>\r\n 	<li>Immigration</li>\r\n 	<li>Trade</li>\r\n 	<li>Redistribution</li>\r\n 	<li>Anti-corporatism</li>\r\n</ul>\r\nThese are the hallmarks of the far right. We now find these topics used in everyday conversations, something we didn’t see before. The following are right wing parties/groups that are now becoming more than just household names: -\r\n<ul>\r\n 	<li>The Freedom Party (Austria)</li>\r\n 	<li>Vlaams Belang (Belgium)</li>\r\n 	<li>The Danish Peoples Party (Denmark)</li>\r\n 	<li>National Front (France)</li>\r\n 	<li>Syriza (Greece)</li>\r\n 	<li>Five Star Movement (Italy)</li>\r\n 	<li>Lega Nord ((Italy)</li>\r\n 	<li>Party for Freedom (Holland)</li>\r\n 	<li>Podermos (Spain)</li>\r\n 	<li>Swedish Democrats (Sweden)</li>\r\n</ul>\r\nThere was a time these political parties would never get “air time” that\'s all changed now.\r\n\r\nGREECE cannot afford to repay the loans that the EU has saddled them with. It is a fact. Even with 10% inflation, which would never be allowed in the EU, the Greek government just could not repay its way out.\r\n\r\n“Can we have some more sir” please… will be heard again in Brussels and Frankfurt sooner rather than later this year. Debt relief is the only answer…talk to yerself Pickering!!\r\n\r\nWe also have parliamentary elections in FRANCE, HOLLAND and GERMANY this year. There are zero guarantees on the outcomes.\r\n\r\nThe biggie is BREXIT. I cannot utter anything else on BREXIT other than given the general state of the EUROPEAN UNION partner economies, the EUROPEAN UNION has more to fear from a BREXIT than the UK in my opinion.  I know that in recent months it could be argued that we have seen a bottom in the EUROZONE numbers and that data is improving. I would concede this point. However, we are working off such a low base, the recovery is quite fragile that in my opinion one huge geopolitical risk will place back a square one once again. There is more than one such geopolitical risk facing the EUROZONE.\r\n\r\nAll the above offers one thing… UNCERTAINTY… in fact its HUGE UNCERTAINTY on a scale not seen before. Given its record of dealing with major issues, I just cannot see the EUROPEAN UNION / EUROZONE surviving in its present shape.\r\n\r\nIt is so fecked up now before any of this really bites, it has real survival issues in my opinion.\r\n\r\nSell the EUR/USD on spikes is the trade. Hold your trades, do not oversize your positions. I believe it may stabilize in Q3 after the summer but prior to the summer of 2017 the EURO trade is just, in my opinion “SELL THE RIPS”\r\n\r\nThere are massive RISKS in EUROPE.\r\n\r\nI know I am a little biased but you check it out yourself. I am not that far away from reality.\r\n\r\n&nbsp;\r\n\r\n<strong> </strong>\r\n<ol start=\"6\">\r\n 	<li><strong>CLOSING THOUGHTS:</strong></li>\r\n</ol>\r\nNothing more to add here, I have said enough except,\r\n\r\nAs usual…\r\n\r\nAlways remember longevity in Forex trading can only be achieved through trading with good RISK and MONEY MANAGEMENT, and above all set your position sizes in accordance with the size of your account and allow for some flexibility.\r\n\r\nTake care, have a great trading week.\r\n\r\nScott Pickering\r\nThe Pip Accumulator\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/disclaimer/\">http://weeklyfxdrivethru.com/disclaimer/</a>\r\n\r\nBLOG VERSION: #123 PREMIUM SERVICE\r\nDATE: 15<sup>th</sup> January 2017.<strong>\r\n\r\n</strong>','THE EUROZONE “RISKS”','','publish','open','closed','','the-eurozone-risks','','','2017-01-14 12:11:39','2017-01-14 17:11:39','',0,'http://weeklyfxdrivethru.com/?post_type=member_posts&#038;p=8944',0,'member_posts','',0),(8945,1,'2017-01-14 12:11:39','2017-01-14 17:11:39','&nbsp;\r\n<ol>\r\n 	<li><strong>INTRODUCTION:</strong></li>\r\n</ol>\r\nTo say that the first week back trading after the holidays was “interesting” would be the biggest understatement ever and worthy of a paragraph or two in the “Guinness Book of Records”.\r\n\r\nI have never witnessed a press conference like “THE DONALDS”, (I can’t even keep a straight face when I write President Elect) ever in my 60 years on this planet. To say that it was a circus is an insult to Chipperfields, Barnum’s and Billy Smarts, however, it was so entertaining I let trades fly way in the aftermath as I wanted to see how CNN (The fake news TV network) would react.\r\n\r\nLet me just say, I think that CNN is condescending to its viewers, trashy, badly programmed with smug presenters who think they know everything about everyone and every subject in the world. Frankly it is NOT a news channel, it lost that classification months ago when it gave up news in favour of the nightly 8 around the table lets shout at and across each other broadcast. These people were alleged well informed guests and mostly “paid contributors” brought on to say what the station wanted. At times, it was a toss-up, between the comedy channel and CNN, they both made me laugh as much as each other.\r\n\r\nI firmly believe the career politicians on the hill who are blockages to reform, will be called out the same way that CNN was last Wednesday. TRUMP could not give a shit. He has his agenda. He will work it and like Mr. Magoo he will boldly walk forward never looking back to see the chaos and disorder left behind him. Get used to it. This is the way that things are going to be. Expect the unexpected. CNN look like they are screwed moving forwards as far as THE DONALD is concerned and in a very rushed, one could say childish response they released a press statement denying all charges.\r\n\r\nIn the run up to the election the “experts” on CNN had a real go at TRUMP, for what may be good reason, but the “He’s just not doing it the right way” approach and consistent message was way off point. They missed the feelings of the voters just like the Democrats and were completely perplexed by the election result.\r\n\r\nAll this stuff in the US about the popular vote is sour grapes and frankly is energy that could be put to better use. In an election that is NOT based upon proportional representation, it happens lots of times that the winner may not have the popular vote as well. Suck it up and move on. The only solution is electoral reform, and if you go down the route of proportional representation, you end up with coalitions that are usually weak and bugger all that was proposed and mandated never gets done.\r\n\r\nSo…. welcome 2017... not just a new year but a new way.\r\n\r\nI had EUR/USD and USD/CHF long term trades open during the press conference. They are long, long-term trades. They were up and down, up and down like a hooker’s knickers. Small positions based on POSITION STYLE trades off the monthly ATR so they do not worry me, but the volatility was huge…”bigly” (as Trump would say).\r\n\r\nHere is an easy prediction for the next 4 years... more of the same!!\r\n\r\nMoving on…\r\n\r\nI did my first PERISCOPE BROADCAST last Monday, despite my microphone not working. This Monday the 16<sup>th</sup> at 5:30PM EST is PERISCOPE #2 and I am borrowing my wife’s headset, therefore the “hearing me” issues should be eradicated. If you want to hear me log into PERISCOPE, my twitter address is @pipaccumulator.\r\n\r\nFinally, <a href=\"mailto:jc*******@gmail.com\">jc*******@gmail.com</a> is the first subscriber this year to receive a FREE 10 week PREMIUM SERVICE subscription, valued at CAD$1,000.00.\r\n\r\nThis could be you. All you have to do to be a winner of the monthly draw is to register to receive this blog via email by signing up for the FREE NEWSLETTER on my welcome page at <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a> it is as simple as that.\r\n\r\n<strong> </strong>\r\n<ol start=\"2\">\r\n 	<li><strong> THE FX MARKET PLACE – LOOKING FORWARD:</strong></li>\r\n</ol>\r\n<strong><u>NOTE:</u></strong> This year, 2017, I am not going to look backwards in this section only forwards. News items / points of interest from the prior week will be covered in the introduction.\r\n\r\n<u>ECONOMIC DATA RELEASES:</u>\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/ECON-DATA-15012017.png\"><img class=\"aligncenter size-large wp-image-8934\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/ECON-DATA-15012017-1021x1024.png\" alt=\"\" width=\"1021\" height=\"1024\" /></a>\r\n\r\n&nbsp;\r\n\r\n<u>MY THOUGHTS ON THE WEEK AHEAD:</u>\r\n\r\nA lot more economic data being released this coming week.\r\n\r\nThe high spot in the FX world, will of course be the ECB Press Conference, I doubt even another attacker on Draghi could create the same effect as the “TRUMP” press conference last week. It should be a far more businesslike sedate affair with the high noteworthy comments based around either a blue tie or red tie being worn!!\r\n\r\nThe BOC press conference in Canada will be very similar to that of the RBNZ… a few of the chaps sitting around drinking coffee and biscuits hanging on every breath that Stephen Poloz the BOC Governor takes. Apart from Vancouver, high-end house prices are rampant in Canada. Measures taken in Vancouver to stop outside investors bumping up prices have worked, but all that has happened is that those investors have moved east. There is a huge bubble about to burst in the housing market and this drive a wedge like a hot knife through butter, possibly triggering recession talks.\r\n\r\nI do not expect a rate cut this week, in fact, I expect Poloz to keep a neutral position like the RBNZ and to some extent the RBA. However, beneath his comments the Canadian economy has big risks in play.\r\n\r\nI have given up on the BOC being anything other than ultra Conservative; their reaction is comparable to that of a dinosaur.\r\n\r\nUK and Australian jobs are also on the agenda and they are usually market movers. Do not forget the Dairy auction prices, I wish I could. The NZD is without doubt the most over-valued pain in the arse currency to trade…. I always feel a little better after I have written that…. that damn flightless bird!! Those of you who are PREMIUM SERVICE subscribers will know where I am coming from.\r\n\r\n<u> </u>\r\n\r\n<u>USD MAJORS – “IMMEDIATE” SUPPORT &amp; RESISTANCE with TREND:</u>\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/T-CHART-15012017.png\"><img class=\"aligncenter size-large wp-image-8933\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/T-CHART-15012017-1024x805.png\" alt=\"\" width=\"1024\" height=\"805\" /></a>\r\n\r\nMy trade charts for the USD majors are below. My thoughts, views and commentary is written on the charts.\r\n\r\nYou will find my charts, hopefully easy to follow. I only use Fibonacci levels, trend lines, confluence points and sometimes chart patterns to identify my high probability trades. If you have any difficulty understanding the points that I am trying to make, please do not hesitate to contact me.\r\n\r\nEUR/USD:\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/EURUSD-D-15012017.png\"><img class=\"aligncenter size-large wp-image-8938\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/EURUSD-D-15012017-1024x496.png\" alt=\"\" width=\"1024\" height=\"496\" /></a>\r\n\r\n&nbsp;\r\n\r\nGBP/USD:\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/GBPUSD-D-15012017.png\"><img class=\"aligncenter size-large wp-image-8939\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/GBPUSD-D-15012017-1024x496.png\" alt=\"\" width=\"1024\" height=\"496\" /></a>\r\n\r\n&nbsp;\r\n\r\nAUD/USD:\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/AUDUSD-D-15012017.png\"><img class=\"aligncenter size-large wp-image-8937\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/AUDUSD-D-15012017-1024x496.png\" alt=\"\" width=\"1024\" height=\"496\" /></a>\r\n\r\n&nbsp;\r\n\r\nNZD/USD:\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/NZDUSD-D-17012017.png\"><img class=\"aligncenter size-large wp-image-8940\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/NZDUSD-D-17012017-1024x496.png\" alt=\"\" width=\"1024\" height=\"496\" /></a>\r\n\r\n&nbsp;\r\n\r\nUSD/CAD:\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/USDCAD-D-15012017.png\"><img class=\"aligncenter size-large wp-image-8941\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/USDCAD-D-15012017-1024x496.png\" alt=\"\" width=\"1024\" height=\"496\" /></a>\r\n\r\n&nbsp;\r\n\r\nUSD/CHF:\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/USDCHF-D-15012017.png\"><img class=\"aligncenter size-large wp-image-8942\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/USDCHF-D-15012017-1024x496.png\" alt=\"\" width=\"1024\" height=\"496\" /></a>\r\n\r\n&nbsp;\r\n\r\nUSD/JPY:\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/USDJPY-D-15012017.png\"><img class=\"aligncenter size-large wp-image-8943\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/USDJPY-D-15012017-1024x496.png\" alt=\"\" width=\"1024\" height=\"496\" /></a>\r\n\r\n<strong>\r\n\r\n</strong>\r\n\r\n&nbsp;\r\n<ol start=\"3\">\r\n 	<li><strong>THE PREMIUM SERVICE:</strong></li>\r\n</ol>\r\n<u>WHAT IS THE PREMIUM SERVICE:</u>\r\n\r\nThe PREMIUM SERVICE is a subscriber, fee based trade set-up option for Forex traders regardless of experience or background. I provide traders suggested trades, and some market commentary related to open trades or factors within the overall market that have my interest.\r\n\r\nFull details of the PREMIUM SERVICE and costs to subscribe plus the various trade styles and how suggested trade set-ups are communicated can be found on my website landing page at <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a> by selecting THE PREMIUM SERVICE tab.\r\n\r\nAdditional information can be found by clicking TESTIMONIALS, PART-TIME TRADERS and FX PROMOTIONS tabs. To subscribe to THE PREMIUM SERVICE, you will require a valid credit card.\r\n\r\n<strong> </strong>\r\n\r\n&nbsp;\r\n<ol start=\"4\">\r\n 	<li><strong>PREMIUM SERVICE – SUBSCRIBER CONTENT AREA:</strong></li>\r\n</ol>\r\n<u>TRADING REVIEW:</u>\r\n\r\nWas last week successful?\r\n\r\nOver all we made pips, so I suppose yes. However, as Vicky Pollard from Little Britain would say… “yes but, no but, yes but, no but, yes but”\r\n\r\nYes; we made a few pips but it was a swings and roundabouts week. RADAR and FUNDAMENTAL trades struggled to gain traction whilst POSITION trades took the glory.\r\n\r\nI am making money, but just about. The smaller position sized POSITION trades are generating pips but the smaller pip losses with the RADAR and FUNDAMENTAL trades are with larger trading positions therefore it is almost as if one negates the other profit wise.\r\n\r\nI have noted that during this past week I have let over 225 pips of profit disappear. It’s not as much of a “woulda kinda shoulda coulda” call, it’s just to let us all be aware that the markets, at least the FX market, is just not directional. It is a pain in the arse at the moment, as I keep telling my wife. There appears to be little conviction. I am trying to let trades develop but it is difficult on many occasions to protected say 50 pips of profit before the trade reverses back in your face.\r\n\r\nI call it frustrating and annoying. It will change though. We are in strange times where the Forex markets are having to re-balance and take stock after the huge on the back of promises moves that took place into the year-end of 2016. This period of consolidation is both normal and healthy for the market.\r\n\r\n<u> </u>\r\n\r\n<u>MOVING FORWARD:</u>\r\n\r\nThis is what I wrote last week.\r\n<p style=\"text-align: center;\"><span style=\"color: #0000ff;\"><em>We have the TRUMP inauguration to look forward to, followed by the fireworks, and I do not mean the ones that mostly go up into the sky.</em></span></p>\r\n<p style=\"text-align: center;\"><span style=\"color: #0000ff;\"><em>We will endure a period of uncertainty and bold and brash statements as the TRUMP approach will be to turn the long-established log jams in Washington upside down and inside out. I fully expect him to name and shame those who block moves. It should be interesting as voters will be able to see if their elected representative is a mover or a blocker.</em></span></p>\r\n<p style=\"text-align: center;\"><span style=\"color: #0000ff;\"><em>From a trading perspective, we will have uncertainty in these unchartered waters in the U.S.</em></span></p>\r\n<p style=\"text-align: center;\"><span style=\"color: #0000ff;\"><em>The EUROZONE, frankly a bit laughable and there will be massive uncertainty for the next 6 months. I want to try to establish some longer-term POSITION TRADES with the single currency and to some extent the USD/CHF as well, but a short-term flight to safety trade even with negative interest rates does concern me. Maybe I have some sort of vitamin deficiency or something, but I am not comfortable trading unless I have some CHF exposure to the short side (CHF).</em></span></p>\r\nI think that I have nailed both issues pretty much head on with nothing else to say.\r\n\r\n<u> </u>\r\n\r\n<u>CORE TRADES:</u>\r\n<ol>\r\n 	<li>AUD/NZD: – Frustrating as it is I am still a believer. I will continue to add on pullbacks and lift off 50 -100 pip gains as they become available. Patience is the key.</li>\r\n 	<li>I have also added the EUR/NZD to the NZD portfolio, but, I do not think that this will be a very long term addition. I expected a large move higher in this pair, for now we are trapped in a 150-pip trading range. I now have two LIVE trades plus a “BUY STOP” limit order in place. I did believe that this pair would be well in a healthy positive position by now. It looks like I will need to be patient and bide my time.</li>\r\n 	<li>NZD/USD: – I have started to build, and I will be adding again.\r\n\r\nThe RBNZ is in control, and in my opinion, this is one of the most overpriced currencies in the market at this moment in time. Central Bank divergence should play its part in having this currency revalue organically, but with most, if not all FX fundamentals, patience will be required.\r\n\r\nChina does concern me. I believe the GDT auctions will be more NZD negative this year as the China family birth control factors will kick in stronger.\r\n\r\nThe TRUMP factor on China may help my longer-term views?</li>\r\n 	<li>AUD/USD: - Started to add positions. I am a little concerned following THE DONALDS press conference that the commodity currencies are in for a ride higher. Correlations are off. Even with equity markets pulling back the AUD/USD &amp; NZD/USD are strengthening. I am looking around thinking that this is just a short-term factor.</li>\r\n 	<li>EUR/USD and USD/CHF: - Core positions now being established and I am looking to add more trades as the month progresses.\r\n\r\nAlways going to be looking to add, I think that for at least Q1 and Q2 the EUROZONE will remain under downside pressures. If BREXIT negotiations are difficult, which I believe they should be, the German desire for the ECB to raise rates could be seen for what it is, which is, in an election year pure and utter propaganda to win over the German savers who have been taken to the cleaners with zero savings interest rates for many years now and at all elections they are being fed a plate of empty promises.</li>\r\n</ol>\r\n&nbsp;\r\n\r\n<u>PERISCOPE:</u>\r\n\r\nPERISCOPE #2 will air Monday 16<sup>th</sup> January at 5:30PM EST via @pipaccumulator.\r\n\r\n<strong> </strong>\r\n\r\n<u>PREMIUM SERVICE - TRADES REVIEW<strong>:</strong></u>\r\n\r\nCURRENT PREMIUM SERVICE - LIVE TRADES:\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/LIVE-TRADES-15012017.png\"><img class=\"aligncenter size-large wp-image-8936\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/LIVE-TRADES-15012017-778x1024.png\" alt=\"\" width=\"778\" height=\"1024\" /></a>\r\n\r\nCURRENT PREMIUM SERVICE – LIMIT ORDER TRADES:\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/LIMIT-ORDERS-15012017.png\"><img class=\"aligncenter size-large wp-image-8935\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/LIMIT-ORDERS-15012017-737x1024.png\" alt=\"\" width=\"737\" height=\"1024\" /></a>\r\n\r\n&nbsp;\r\n<ol start=\"5\">\r\n 	<li><strong>SCOTT’S SOAPBOX:</strong></li>\r\n</ol>\r\nIf you recall, in my final “DRIVE THRU” of 2016, I provided a list of TRADING PREDICTIONS for 2017. I basically named several geopolitical events that I feel will weigh on the markets this year. Therefore, for the first few weeks of 2017, I want to look at these events in a little more detail.\r\n\r\nAs you will be aware, so much has been said already on the subjects that I have highlighted, I can only add points and views that are my own, based upon how I see things and how I am going to view trading around these events.\r\n<p style=\"text-align: center;\"><strong>THE EUROZONE “RISKS”</strong></p>\r\nI am a simple guy; originally from Liverpool, England. I like my football and I love Cricket and Formula 1 racing. I am neat and tidy about the house, everything has its place. My computers are orderly; everything is in folders. I have spreadsheets everywhere and spreadsheets for everything. I consider myself reasonably well organized.\r\n\r\nCan you possibly understand what a person with my disciplines at home must think of the EUROZONE?\r\n\r\nThe EUROZONE is everything I am not. Yet given the headcount and the minimal amount of actual work required to function, the EUROZONE could be the envy of all administrators and desk office organizers in the world. Why aren’t they?\r\n\r\nThe EUROZONE could be the “best practice” example touted all over the globe. However, it is not.\r\n\r\nThe EUROZONE is wasteful, costly, still an experiment and frankly completely lacking in an effective organizational structure. It is basically a shamble.\r\n\r\nThis begs the obvious question…\r\n\r\n“In the name of all that is Holy how the feck is still in existence?”\r\n\r\nThat is the “Who wants to be a Millionaire” $64,000.00 question… I don\'t know the answer.\r\n\r\nHow does this shambolic organization still manage to remain in existence? I did not use the words work or working deliberately when writing about the EUROZONE because that would mislead people.\r\n\r\nIf a visiting spaceship was to land in Brussels and go into one of the many EUROPEAN UNION buildings to “suss” out us humans of the planet earth, I reckon the would be fecked off out of Brussels within the hour, reporting back to base along the lines of “This planet is full of fecking idiots who do not know their arse’s from their elbows, leave these numpties alone - nothing to see here”.\r\n\r\nOn a serious note if there are beings from outer space let’s hope they do land in Brussels and not Silicone Valley. It’s a well-known fact you will get no common sense out of Brussels and any response you do get, you will not understand anyway. In Silicon Valley, they might actually see something worth talking.\r\n\r\nMoving on…\r\n\r\nOver the past five years or so, I have written so many times about the EUROZONE it just has to be my favourite subject. There is NOTHING about the EUROZONE that makes sense to me… I struggle to find just one thing.\r\n\r\nMaybe the fact that Brussels is connected via the Channel Tunnel by high speed train from London is a good thing. Feck all use that\'s going to be after BREXIT… no nothing good about Brussels.\r\n\r\nBack on track…\r\n\r\nBrussels is the “Can kicking down the road” world’s best champion. Every major issue, results with fudging the answer or providing a stop gap the solution. It is paradise for civil servants… maintain the status quo… do not rock the boat and plunder your way from catastrophe to catastrophe all without consequence as these people are all non-elected individuals. It is a Sir Humphrey Appleton existence, a plethora of pen pushing, desk sucking jotter blotters.\r\n\r\nThe EUROPEAN UNION politicians are only interested in popularity and accusations, pointing fingers and blaming their predecessors, they are simply not good at, or interested in fixing things and along with the Brussels civil service it is a marriage made in heaven.\r\n\r\nAll of this comes at a cost.\r\n\r\nWe have seen a dreadful failed German initiated policy of austerity, which plunged huge percentages of the population of Europe into unemployment, with failing support services like health, education and welfare being starved of cash at a time when it was needed the most.\r\n\r\nPensions were reduced, terms of employment extended… so much hardship was inflicted on the poorest part of the EU. Not exactly what you would call a union!!\r\n\r\nThere are 28 countries (at the moment) in the EUROPEAN UNION. 19 of these countries has adopted the single currency (EUR). This is effectively 19 countries with different needs, wants and desires and cultures using the same cheque book to function.\r\n\r\n19 into 1 does not go…!\r\n\r\nWhen times are hard this scenario of 19 into 1 is just exacerbated more and more. The one size fits all just DOES NOT work.\r\n\r\nBorn out of the EEC in 1999, the EUROPEAN UNION has had 17 years to fix basic standards of membership on:\r\n<ul>\r\n 	<li>Tax Harmonization.</li>\r\n 	<li>Banking procedures.</li>\r\n 	<li>Social integration.</li>\r\n 	<li>Immigration</li>\r\n 	<li>Defence</li>\r\n</ul>\r\nI could write more. None of the above work. We are 17 years into a project, an experiment and frankly 17 years from now if the EUROZONE / EUROPEAN UNION is still in existence, it will probably mean that, “Hell must have frozen over” there can be no other explanation.\r\n\r\nThis year the EUROZONE / EUROPEAN UNION faces its biggest test so far, the “RISKS” are monumental.\r\n<ul>\r\n 	<li>BREXIT</li>\r\n 	<li>A BREXIT CONTAGION</li>\r\n 	<li>RISE IN THE POPULIST VOTE</li>\r\n 	<li>IMMIGRATION INTO THE UNION</li>\r\n 	<li>ELECTIONS IN FRANCE, HOLLAND &amp; GERMANY</li>\r\n 	<li>GREEK DEBT – ACT IV</li>\r\n</ul>\r\nThere are a few more but let’s just stick with these standouts.\r\n\r\nThe EU is a disaster at problem solving, it could NOT coordinate a round of drinks for everyone even if they were sat in a brewery at the time.\r\n\r\nThere are concerns over a BREXIT CONTAGION, this is a real fear and it has never been addressed fully by the remaining EU partners.\r\n\r\nI sometimes wonder does GERMANY want the EU to fail so they can blame the BREXIT and its fallout. This matter would definitely help all the German politicians and growing number of anti-European voices being heard in Germany.\r\n\r\nThe fact that apart from the “No special deals for the UK” nothing has been done to unify the remaining members to keep the far-right parties under wraps. In fact, the very opposite has taken place in FRANCE and ITALY…so far.\r\n\r\nThe immigration issue was the primary factor that pushed the BREXIT vote to win the day. Border controls are critical at most times given the terrorist society that we all live in now. Immigration into the EU is like a leaky bucket. Access into the EU illegally is simple through GREECE, ITALY, FRANCE and SPAIN etc. Whilst there are measures in place they are over-whelmed. The legal routes are at breaking point.  There are some really sad cases and immigration rights can be argued for some, but for the volumes and costs that go with it, it is crippling and it is not measured accurately because the authorities at the access points are snowed under.\r\n\r\nThe populist vote is on the rise.\r\n<ul>\r\n 	<li>Sovereignty</li>\r\n 	<li>Representation</li>\r\n 	<li>Immigration</li>\r\n 	<li>Trade</li>\r\n 	<li>Redistribution</li>\r\n 	<li>Anti-corporatism</li>\r\n</ul>\r\nThese are the hallmarks of the far right. We now find these topics used in everyday conversations, something we didn’t see before. The following are right wing parties/groups that are now becoming more than just household names: -\r\n<ul>\r\n 	<li>The Freedom Party (Austria)</li>\r\n 	<li>Vlaams Belang (Belgium)</li>\r\n 	<li>The Danish Peoples Party (Denmark)</li>\r\n 	<li>National Front (France)</li>\r\n 	<li>Syriza (Greece)</li>\r\n 	<li>Five Star Movement (Italy)</li>\r\n 	<li>Lega Nord ((Italy)</li>\r\n 	<li>Party for Freedom (Holland)</li>\r\n 	<li>Podermos (Spain)</li>\r\n 	<li>Swedish Democrats (Sweden)</li>\r\n</ul>\r\nThere was a time these political parties would never get “air time” that\'s all changed now.\r\n\r\nGREECE cannot afford to repay the loans that the EU has saddled them with. It is a fact. Even with 10% inflation, which would never be allowed in the EU, the Greek government just could not repay its way out.\r\n\r\n“Can we have some more sir” please… will be heard again in Brussels and Frankfurt sooner rather than later this year. Debt relief is the only answer…talk to yerself Pickering!!\r\n\r\nWe also have parliamentary elections in FRANCE, HOLLAND and GERMANY this year. There are zero guarantees on the outcomes.\r\n\r\nThe biggie is BREXIT. I cannot utter anything else on BREXIT other than given the general state of the EUROPEAN UNION partner economies, the EUROPEAN UNION has more to fear from a BREXIT than the UK in my opinion.  I know that in recent months it could be argued that we have seen a bottom in the EUROZONE numbers and that data is improving. I would concede this point. However, we are working off such a low base, the recovery is quite fragile that in my opinion one huge geopolitical risk will place back a square one once again. There is more than one such geopolitical risk facing the EUROZONE.\r\n\r\nAll the above offers one thing… UNCERTAINTY… in fact its HUGE UNCERTAINTY on a scale not seen before. Given its record of dealing with major issues, I just cannot see the EUROPEAN UNION / EUROZONE surviving in its present shape.\r\n\r\nIt is so fecked up now before any of this really bites, it has real survival issues in my opinion.\r\n\r\nSell the EUR/USD on spikes is the trade. Hold your trades, do not oversize your positions. I believe it may stabilize in Q3 after the summer but prior to the summer of 2017 the EURO trade is just, in my opinion “SELL THE RIPS”\r\n\r\nThere are massive RISKS in EUROPE.\r\n\r\nI know I am a little biased but you check it out yourself. I am not that far away from reality.\r\n\r\n&nbsp;\r\n\r\n<strong> </strong>\r\n<ol start=\"6\">\r\n 	<li><strong>CLOSING THOUGHTS:</strong></li>\r\n</ol>\r\nNothing more to add here, I have said enough except,\r\n\r\nAs usual…\r\n\r\nAlways remember longevity in Forex trading can only be achieved through trading with good RISK and MONEY MANAGEMENT, and above all set your position sizes in accordance with the size of your account and allow for some flexibility.\r\n\r\nTake care, have a great trading week.\r\n\r\nScott Pickering\r\nThe Pip Accumulator\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/disclaimer/\">http://weeklyfxdrivethru.com/disclaimer/</a>\r\n\r\nBLOG VERSION: #123 PREMIUM SERVICE\r\nDATE: 15<sup>th</sup> January 2017.<strong>\r\n\r\n</strong>','THE EUROZONE “RISKS”','','inherit','closed','closed','','8944-revision-v1','','','2017-01-14 12:11:39','2017-01-14 17:11:39','',8944,'http://weeklyfxdrivethru.com/8944-revision-v1/',0,'revision','',0),(8949,1,'2017-01-14 12:43:57','2017-01-14 17:43:57','&nbsp;\r\n<ol>\r\n 	<li><strong> INTRODUCTION:</strong></li>\r\n</ol>\r\nTo say that the first week back trading after the holidays was “interesting” would be the biggest understatement ever and worthy of a paragraph or two in the “Guinness Book of Records”.\r\n\r\nI have never witnessed a press conference like “THE DONALDS”, (I can’t even keep a straight face when I write President Elect) ever in my 60 years on this planet. To say that it was a circus is an insult to Chipperfields, Barnum’s and Billy Smarts, however, it was so entertaining I let trades fly way in the aftermath as I wanted to see how CNN (The fake news TV network) would react.\r\n\r\nLet me just say, I think that CNN is condescending to its viewers, trashy, badly programmed with smug presenters who think they know everything about everyone and every subject in the world. Frankly it is NOT a news channel, it lost that classification months ago when it gave up news in favour of the nightly 8 around the table lets shout at and across each other broadcast. These people were alleged well informed guests and mostly “paid contributors” brought on to say what the station wanted. At times, it was a toss-up, between the comedy channel and CNN, they both made me laugh as much as each other.\r\n\r\nI firmly believe the career politicians on the hill who are blockages to reform, will be called out the same way that CNN was last Wednesday. TRUMP could not give a shit. He has his agenda. He will work it and like Mr. Magoo he will boldly walk forward never looking back to see the chaos and disorder left behind him. Get used to it. This is the way that things are going to be. Expect the unexpected. CNN look like they are screwed moving forwards as far as THE DONALD is concerned and in a very rushed, one could say childish response they released a press statement denying all charges.\r\n\r\nIn the run up to the election the “experts” on CNN had a real go at TRUMP, for what may be good reason, but the “He’s just not doing it the right way” approach and consistent message was way off point. They missed the feelings of the voters just like the Democrats and were completely perplexed by the election result.\r\n\r\nAll this stuff in the US about the popular vote is sour grapes and frankly is energy that could be put to better use. In an election that is NOT based upon proportional representation, it happens lots of times that the winner may not have the popular vote as well. Suck it up and move on. The only solution is electoral reform, and if you go down the route of proportional representation, you end up with coalitions that are usually weak and bugger all that was proposed and mandated never gets done.\r\n\r\nSo…. welcome 2017... not just a new year but a new way.\r\n\r\nI had EUR/USD and USD/CHF long term trades open during the press conference. They are long, long-term trades. They were up and down, up and down like a hooker’s knickers. Small positions based on POSITION STYLE trades off the monthly ATR so they do not worry me, but the volatility was huge…”bigly” (as Trump would say).\r\n\r\nHere is an easy prediction for the next 4 years... more of the same!!\r\n\r\nMoving on…\r\n\r\nI did my first PERISCOPE BROADCAST last Monday, despite my microphone not working. This Monday the 16<sup>th</sup> at 5:30PM EST is PERISCOPE #2 and I am borrowing my wife’s headset, therefore the “hearing me” issues should be eradicated. If you want to hear me log into PERISCOPE, my twitter address is @pipaccumulator.\r\n\r\nFinally, <a href=\"mailto:jc*******@gmail.com\">jc*******@gmail.com</a> is the first subscriber this year to receive a FREE 10 week PREMIUM SERVICE subscription, valued at CAD$1,000.00\r\n\r\nThis could be you. All you have to do to be a winner of the monthly draw is to register to receive this blog via email by signing up for the FREE NEWSLETTER on my welcome page at <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a> it is as simple as that.\r\n\r\n<strong> </strong>\r\n<ol start=\"2\">\r\n 	<li><strong> THE FX MARKET PLACE – LOOKING FORWARD:</strong></li>\r\n</ol>\r\n<strong><u>NOTE:</u></strong> This year, 2017, I am not going to look backwards in this section only forwards. News items / points of interest from the prior week will be covered in the introduction.\r\n\r\n<u>ECONOMIC DATA RELEASES:</u>\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/ECON-DATA-15012017.png\"><img class=\"aligncenter size-large wp-image-8934\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/ECON-DATA-15012017-1021x1024.png\" alt=\"\" width=\"1021\" height=\"1024\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n<u>MY THOUGHTS ON THE WEEK AHEAD:</u>\r\n\r\nA lot more economic data being released this coming week.\r\n\r\nThe high spot in the FX world, will of course be the ECB Press Conference, I doubt even another attacker on Draghi could create the same effect as the “TRUMP” press conference last week. It should be a far more businesslike sedate affair with the high noteworthy comments based around either a blue tie or red tie being worn!!\r\n\r\nThe BOC press conference in Canada will be very similar to that of the RBNZ… a few of the chaps sitting around drinking coffee and biscuits hanging on every breath that Stephen Poloz the BOC Governor takes. Apart from Vancouver, high-end house prices are rampant in Canada. Measures taken in Vancouver to stop outside investors bumping up prices have worked, but all that has happened is that those investors have moved east. There is a huge bubble about to burst in the housing market and this drive a wedge like a hot knife through butter, possibly triggering recession talks.\r\n\r\nI do not expect a rate cut this week, in fact, I expect Poloz to keep a neutral position like the RBNZ and to some extent the RBA. However, beneath his comments the Canadian economy has big risks in play.\r\n\r\nI have given up on the BOC being anything other than ultra Conservative; their reaction is comparable to that of a dinosaur.\r\n\r\nUK and Australian jobs are also on the agenda and they are usually market movers. Do not forget the Dairy auction prices, I wish I could. The NZD is without doubt the most over-valued pain in the arse currency to trade…. I always feel a little better after I have written that…. that damn flightless bird!! Those of you who are PREMIUM SERVICE subscribers will know where I am coming from.\r\n\r\n<u> </u>\r\n\r\n<u>USD MAJORS – “IMMEDIATE” SUPPORT &amp; RESISTANCE with TREND:</u>\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/T-CHART-15012017.png\"><img class=\"aligncenter size-large wp-image-8933\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/T-CHART-15012017-1024x805.png\" alt=\"\" width=\"1024\" height=\"805\" /></a>\r\n\r\nMy trade charts for the USD majors are below. My thoughts, views and commentary is written on the charts.\r\n\r\nYou will find my charts, hopefully easy to follow. I only use Fibonacci levels, trend lines, confluence points and sometimes chart patterns to identify my high probability trades. If you have any difficulty understanding the points that I am trying to make, please do not hesitate to contact me.\r\n\r\nEUR/USD:\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/EURUSD-D-15012017.png\"><img class=\"aligncenter size-large wp-image-8938\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/EURUSD-D-15012017-1024x496.png\" alt=\"\" width=\"1024\" height=\"496\" /></a>\r\n\r\n&nbsp;\r\n\r\nGBP/USD:\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/GBPUSD-D-15012017.png\"><img class=\"aligncenter size-large wp-image-8939\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/GBPUSD-D-15012017-1024x496.png\" alt=\"\" width=\"1024\" height=\"496\" /></a>\r\n\r\n&nbsp;\r\n\r\nAUD/USD:\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/AUDUSD-D-15012017.png\"><img class=\"aligncenter size-large wp-image-8937\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/AUDUSD-D-15012017-1024x496.png\" alt=\"\" width=\"1024\" height=\"496\" /></a>\r\n\r\n&nbsp;\r\n\r\nNZD/USD:\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/NZDUSD-D-17012017.png\"><img class=\"aligncenter size-large wp-image-8940\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/NZDUSD-D-17012017-1024x496.png\" alt=\"\" width=\"1024\" height=\"496\" /></a>\r\n\r\n&nbsp;\r\n\r\nUSD/CAD:\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/USDCAD-D-15012017.png\"><img class=\"aligncenter size-large wp-image-8941\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/USDCAD-D-15012017-1024x496.png\" alt=\"\" width=\"1024\" height=\"496\" /></a>\r\n\r\n&nbsp;\r\n\r\nUSD/CHF:\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/USDCHF-D-15012017.png\"><img class=\"aligncenter size-large wp-image-8942\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/USDCHF-D-15012017-1024x496.png\" alt=\"\" width=\"1024\" height=\"496\" /></a>\r\n\r\n&nbsp;\r\n\r\nUSD/JPY:\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/USDJPY-D-15012017.png\"><img class=\"aligncenter size-large wp-image-8943\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/USDJPY-D-15012017-1024x496.png\" alt=\"\" width=\"1024\" height=\"496\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n<ol start=\"3\">\r\n 	<li><strong>THE PREMIUM SERVICE:</strong></li>\r\n</ol>\r\n<u>WHAT IS THE PREMIUM SERVICE:</u>\r\n\r\nThe PREMIUM SERVICE is a subscriber, fee based trade set-up option for Forex traders regardless of experience or background. I provide traders suggested trades, and some market commentary related to open trades or factors within the overall market that have my interest.\r\n\r\nFull details of the PREMIUM SERVICE and costs to subscribe plus the various trade styles and how suggested trade set-ups are communicated can be found on my website landing page at <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a> by selecting THE PREMIUM SERVICE tab.\r\n\r\nAdditional information can be found by clicking TESTIMONIALS, PART-TIME TRADERS and FX PROMOTIONS tabs. To subscribe to THE PREMIUM SERVICE, you will require a valid credit card.\r\n\r\n<strong> </strong>\r\n<ol start=\"4\">\r\n 	<li><strong>PREMIUM SERVICE – SUBSCRIBER CONTENT AREA:</strong></li>\r\n</ol>\r\n<ol start=\"5\">\r\n 	<li><strong>SCOTT’S SOAPBOX:</strong></li>\r\n</ol>\r\nIf you recall, in my final “DRIVE THRU” of 2016, I provided a list of TRADING PREDICTIONS for 2017. I basically named several geopolitical events that I feel will weigh on the markets this year. Therefore, for the first few weeks of 2017, I want to look at these events in a little more detail.\r\n\r\nAs you will be aware, so much has been said already on the subjects that I have highlighted, I can only add points and views that are my own, based upon how I see things and how I am going to view trading around these events.\r\n<p style=\"text-align: center;\"><strong>THE EUROZONE “RISKS”</strong></p>\r\nI am a simple guy; originally from Liverpool, England. I like my football and I love Cricket and Formula 1 racing. I am neat and tidy about the house, everything has its place. My computers are orderly; everything is in folders. I have spreadsheets everywhere and spreadsheets for everything. I consider myself reasonably well organized.\r\n\r\nCan you possibly understand what a person with my disciplines at home must think of the EUROZONE?\r\n\r\nThe EUROZONE is everything I am not. Yet given the headcount and the minimal amount of actual work required to function, the EUROZONE could be the envy of all administrators and desk office organizers in the world. Why aren’t they?\r\n\r\nThe EUROZONE could be the “best practice” example touted all over the globe. However, it is not.\r\n\r\nThe EUROZONE is wasteful, costly, still an experiment and frankly completely lacking in an effective organizational structure. It is basically a shamble.\r\n\r\nThis begs the obvious question…\r\n\r\n“In the name of all that is Holy how the feck is still in existence?”\r\n\r\nThat is the “Who wants to be a Millionaire” $64,000.00 question… I don\'t know the answer.\r\n\r\nHow does this shambolic organization still manage to remain in existence? I did not use the words work or working deliberately when writing about the EUROZONE because that would mislead people.\r\n\r\nIf a visiting spaceship was to land in Brussels and go into one of the many EUROPEAN UNION buildings to “suss” out us humans of the planet earth, I reckon the would be fecked off out of Brussels within the hour, reporting back to base along the lines of “This planet is full of fecking idiots who do not know their arse’s from their elbows, leave these numpties alone - nothing to see here”.\r\n\r\nOn a serious note if there are beings from outer space let’s hope they do land in Brussels and not Silicone Valley. It’s a well-known fact you will get no common sense out of Brussels and any response you do get, you will not understand anyway. In Silicon Valley, they might actually see something worth talking.\r\n\r\nMoving on…\r\n\r\nOver the past five years or so, I have written so many times about the EUROZONE it just has to be my favourite subject. There is NOTHING about the EUROZONE that makes sense to me… I struggle to find just one thing.\r\n\r\nMaybe the fact that Brussels is connected via the Channel Tunnel by high speed train from London is a good thing. Feck all use that\'s going to be after BREXIT… no nothing good about Brussels.\r\n\r\nBack on track…\r\n\r\nBrussels is the “Can kicking down the road” world’s best champion. Every major issue, results with fudging the answer or providing a stop gap the solution. It is paradise for civil servants… maintain the status quo… do not rock the boat and plunder your way from catastrophe to catastrophe all without consequence as these people are all non-elected individuals. It is a Sir Humphrey Appleton existence, a plethora of pen pushing, desk sucking jotter blotters.\r\n\r\nThe EUROPEAN UNION politicians are only interested in popularity and accusations, pointing fingers and blaming their predecessors, they are simply not good at, or interested in fixing things and along with the Brussels civil service it is a marriage made in heaven.\r\n\r\nAll of this comes at a cost.\r\n\r\nWe have seen a dreadful failed German initiated policy of austerity, which plunged huge percentages of the population of Europe into unemployment, with failing support services like health, education and welfare being starved of cash at a time when it was needed the most.\r\n\r\nPensions were reduced, terms of employment extended… so much hardship was inflicted on the poorest part of the EU. Not exactly what you would call a union!!\r\n\r\nThere are 28 countries (at the moment) in the EUROPEAN UNION. 19 of these countries has adopted the single currency (EUR). This is effectively 19 countries with different needs, wants and desires and cultures using the same cheque book to function.\r\n\r\n19 into 1 does not go…!\r\n\r\nWhen times are hard this scenario of 19 into 1 is just exacerbated more and more. The one size fits all just DOES NOT work.\r\n\r\nBorn out of the EEC in 1999, the EUROPEAN UNION has had 17 years to fix basic standards of membership on:\r\n<ul>\r\n 	<li>Tax Harmonization.</li>\r\n 	<li>Banking procedures.</li>\r\n 	<li>Social integration.</li>\r\n 	<li>Immigration</li>\r\n 	<li>Defence</li>\r\n</ul>\r\nI could write more. None of the above work. We are 17 years into a project, an experiment and frankly 17 years from now if the EUROZONE / EUROPEAN UNION is still in existence, it will probably mean that, “Hell must have frozen over” there can be no other explanation.\r\n\r\nThis year the EUROZONE / EUROPEAN UNION faces its biggest test so far, the “RISKS” are monumental.\r\n<ul>\r\n 	<li>BREXIT</li>\r\n 	<li>A BREXIT CONTAGION</li>\r\n 	<li>RISE IN THE POPULIST VOTE</li>\r\n 	<li>IMMIGRATION INTO THE UNION</li>\r\n 	<li>ELECTIONS IN FRANCE, HOLLAND &amp; GERMANY</li>\r\n 	<li>GREEK DEBT – ACT IV</li>\r\n</ul>\r\nThere are a few more but let’s just stick with these standouts.\r\n\r\nThe EU is a disaster at problem solving, it could NOT coordinate a round of drinks for everyone even if they were sat in a brewery at the time.\r\n\r\nThere are concerns over a BREXIT CONTAGION, this is a real fear and it has never been addressed fully by the remaining EU partners.\r\n\r\nI sometimes wonder does GERMANY want the EU to fail so they can blame the BREXIT and its fallout. This matter would definitely help all the German politicians and growing number of anti-European voices being heard in Germany.\r\n\r\nThe fact that apart from the “No special deals for the UK” nothing has been done to unify the remaining members to keep the far-right parties under wraps. In fact, the very opposite has taken place in FRANCE and ITALY…so far.\r\n\r\nThe immigration issue was the primary factor that pushed the BREXIT vote to win the day. Border controls are critical at most times given the terrorist society that we all live in now. Immigration into the EU is like a leaky bucket. Access into the EU illegally is simple through GREECE, ITALY, FRANCE and SPAIN etc. Whilst there are measures in place they are over-whelmed. The legal routes are at breaking point.  There are some really sad cases and immigration rights can be argued for some, but for the volumes and costs that go with it, it is crippling and it is not measured accurately because the authorities at the access points are snowed under.\r\n\r\nThe populist vote is on the rise.\r\n<ul>\r\n 	<li>Sovereignty</li>\r\n 	<li>Representation</li>\r\n 	<li>Immigration</li>\r\n 	<li>Trade</li>\r\n 	<li>Redistribution</li>\r\n 	<li>Anti-corporatism</li>\r\n</ul>\r\nThese are the hallmarks of the far right. We now find these topics used in everyday conversations, something we didn’t see before. The following are right wing parties/groups that are now becoming more than just household names: -\r\n<ul>\r\n 	<li>The Freedom Party (Austria)</li>\r\n 	<li>Vlaams Belang (Belgium)</li>\r\n 	<li>The Danish Peoples Party (Denmark)</li>\r\n 	<li>National Front (France)</li>\r\n 	<li>Syriza (Greece)</li>\r\n 	<li>Five Star Movement (Italy)</li>\r\n 	<li>Lega Nord ((Italy)</li>\r\n 	<li>Party for Freedom (Holland)</li>\r\n 	<li>Podermos (Spain)</li>\r\n 	<li>Swedish Democrats (Sweden)</li>\r\n</ul>\r\nThere was a time these political parties would never get “air time” that\'s all changed now.\r\n\r\nGREECE cannot afford to repay the loans that the EU has saddled them with. It is a fact. Even with 10% inflation, which would never be allowed in the EU, the Greek government just could not repay its way out.\r\n\r\n“Can we have some more sir” please… will be heard again in Brussels and Frankfurt sooner rather than later this year. Debt relief is the only answer…talk to yerself Pickering!!\r\n\r\nWe also have parliamentary elections in FRANCE, HOLLAND and GERMANY this year. There are zero guarantees on the outcomes.\r\n\r\nThe biggie is BREXIT. I cannot utter anything else on BREXIT other than given the general state of the EUROPEAN UNION partner economies, the EUROPEAN UNION has more to fear from a BREXIT than the UK in my opinion.  I know that in recent months it could be argued that we have seen a bottom in the EUROZONE numbers and that data is improving. I would concede this point. However, we are working off such a low base, the recovery is quite fragile that in my opinion one huge geopolitical risk will place back a square one once again. There is more than one such geopolitical risk facing the EUROZONE.\r\n\r\nAll the above offers one thing… UNCERTAINTY… in fact its HUGE UNCERTAINTY on a scale not seen before. Given its record of dealing with major issues, I just cannot see the EUROPEAN UNION / EUROZONE surviving in its present shape.\r\n\r\nIt is so fecked up now before any of this really bites, it has real survival issues in my opinion.\r\n\r\nSell the EUR/USD on spikes is the trade. Hold your trades, do not oversize your positions. I believe it may stabilize in Q3 after the summer but prior to the summer of 2017 the EURO trade is just, in my opinion “SELL THE RIPS”\r\n\r\nThere are massive RISKS in EUROPE.\r\n\r\nI know I am a little biased but you check it out yourself. I am not that far away from reality.\r\n\r\n<strong> </strong>\r\n<ol start=\"6\">\r\n 	<li><strong>CLOSING THOUGHTS:</strong></li>\r\n</ol>\r\nNothing more to add here, I have said enough except,\r\n\r\nAs usual…\r\n\r\nAlways remember longevity in Forex trading can only be achieved through trading with good RISK and MONEY MANAGEMENT, and above all set your position sizes in accordance with the size of your account and allow for some flexibility.\r\n\r\nTake care, have a great trading week.\r\n\r\nScott Pickering\r\nThe Pip Accumulator\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/disclaimer/\">http://weeklyfxdrivethru.com/disclaimer/</a>\r\n\r\nBLOG VERSION: #227 FREE NEWSLETTER VERSION\r\nDATE: 15<sup>th</sup> January 2017.\r\n\r\n&nbsp;','THE EUROZONE “RISKS”','','publish','open','closed','','the-eurozone-risks','','','2017-01-14 12:43:57','2017-01-14 17:43:57','',0,'http://weeklyfxdrivethru.com/?p=8949',0,'post','',0),(8950,1,'2017-01-14 12:38:18','2017-01-14 17:38:18','&nbsp;\r\n<ol>\r\n 	<li><strong> INTRODUCTION:</strong></li>\r\n</ol>\r\nTo say that the first week back trading after the holidays was “interesting” would be the biggest understatement ever and worthy of a paragraph or two in the “Guinness Book of Records”.\r\n\r\nI have never witnessed a press conference like “THE DONALDS”, (I can’t even keep a straight face when I write President Elect) ever in my 60 years on this planet. To say that it was a circus is an insult to Chipperfields, Barnum’s and Billy Smarts, however, it was so entertaining I let trades fly way in the aftermath as I wanted to see how CNN (The fake news TV network) would react.\r\n\r\nLet me just say, I think that CNN is condescending to its viewers, trashy, badly programmed with smug presenters who think they know everything about everyone and every subject in the world. Frankly it is NOT a news channel, it lost that classification months ago when it gave up news in favour of the nightly 8 around the table lets shout at and across each other broadcast. These people were alleged well informed guests and mostly “paid contributors” brought on to say what the station wanted. At times, it was a toss-up, between the comedy channel and CNN, they both made me laugh as much as each other.\r\n\r\nI firmly believe the career politicians on the hill who are blockages to reform, will be called out the same way that CNN was last Wednesday. TRUMP could not give a shit. He has his agenda. He will work it and like Mr. Magoo he will boldly walk forward never looking back to see the chaos and disorder left behind him. Get used to it. This is the way that things are going to be. Expect the unexpected. CNN look like they are screwed moving forwards as far as THE DONALD is concerned and in a very rushed, one could say childish response they released a press statement denying all charges.\r\n\r\nIn the run up to the election the “experts” on CNN had a real go at TRUMP, for what may be good reason, but the “He’s just not doing it the right way” approach and consistent message was way off point. They missed the feelings of the voters just like the Democrats and were completely perplexed by the election result.\r\n\r\nAll this stuff in the US about the popular vote is sour grapes and frankly is energy that could be put to better use. In an election that is NOT based upon proportional representation, it happens lots of times that the winner may not have the popular vote as well. Suck it up and move on. The only solution is electoral reform, and if you go down the route of proportional representation, you end up with coalitions that are usually weak and bugger all that was proposed and mandated never gets done.\r\n\r\nSo…. welcome 2017... not just a new year but a new way.\r\n\r\nI had EUR/USD and USD/CHF long term trades open during the press conference. They are long, long-term trades. They were up and down, up and down like a hooker’s knickers. Small positions based on POSITION STYLE trades off the monthly ATR so they do not worry me, but the volatility was huge…”bigly” (as Trump would say).\r\n\r\nHere is an easy prediction for the next 4 years... more of the same!!\r\n\r\nMoving on…\r\n\r\nI did my first PERISCOPE BROADCAST last Monday, despite my microphone not working. This Monday the 16<sup>th</sup> at 5:30PM EST is PERISCOPE #2 and I am borrowing my wife’s headset, therefore the “hearing me” issues should be eradicated. If you want to hear me log into PERISCOPE, my twitter address is @pipaccumulator.\r\n\r\nFinally, <a href=\"mailto:jc*******@gmail.com\">jc*******@gmail.com</a> is the first subscriber this year to receive a FREE 10 week PREMIUM SERVICE subscription, valued at CAD$1,000.00\r\n\r\nThis could be you. All you have to do to be a winner of the monthly draw is to register to receive this blog via email by signing up for the FREE NEWSLETTER on my welcome page at <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a> it is as simple as that.\r\n\r\n<strong> </strong>\r\n<ol start=\"2\">\r\n 	<li><strong> THE FX MARKET PLACE – LOOKING FORWARD:</strong></li>\r\n</ol>\r\n<strong><u>NOTE:</u></strong> This year, 2017, I am not going to look backwards in this section only forwards. News items / points of interest from the prior week will be covered in the introduction.\r\n\r\n<u>ECONOMIC DATA RELEASES:</u>\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/ECON-DATA-15012017.png\"><img class=\"aligncenter size-large wp-image-8934\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/ECON-DATA-15012017-1021x1024.png\" alt=\"\" width=\"1021\" height=\"1024\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n<u>MY THOUGHTS ON THE WEEK AHEAD:</u>\r\n\r\nA lot more economic data being released this coming week.\r\n\r\nThe high spot in the FX world, will of course be the ECB Press Conference, I doubt even another attacker on Draghi could create the same effect as the “TRUMP” press conference last week. It should be a far more businesslike sedate affair with the high noteworthy comments based around either a blue tie or red tie being worn!!\r\n\r\nThe BOC press conference in Canada will be very similar to that of the RBNZ… a few of the chaps sitting around drinking coffee and biscuits hanging on every breath that Stephen Poloz the BOC Governor takes. Apart from Vancouver, high-end house prices are rampant in Canada. Measures taken in Vancouver to stop outside investors bumping up prices have worked, but all that has happened is that those investors have moved east. There is a huge bubble about to burst in the housing market and this drive a wedge like a hot knife through butter, possibly triggering recession talks.\r\n\r\nI do not expect a rate cut this week, in fact, I expect Poloz to keep a neutral position like the RBNZ and to some extent the RBA. However, beneath his comments the Canadian economy has big risks in play.\r\n\r\nI have given up on the BOC being anything other than ultra Conservative; their reaction is comparable to that of a dinosaur.\r\n\r\nUK and Australian jobs are also on the agenda and they are usually market movers. Do not forget the Dairy auction prices, I wish I could. The NZD is without doubt the most over-valued pain in the arse currency to trade…. I always feel a little better after I have written that…. that damn flightless bird!! Those of you who are PREMIUM SERVICE subscribers will know where I am coming from.\r\n\r\n<u> </u>\r\n\r\n<u>USD MAJORS – “IMMEDIATE” SUPPORT &amp; RESISTANCE with TREND:</u>\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/T-CHART-15012017.png\"><img class=\"aligncenter size-large wp-image-8933\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/T-CHART-15012017-1024x805.png\" alt=\"\" width=\"1024\" height=\"805\" /></a>\r\n\r\nMy trade charts for the USD majors are below. My thoughts, views and commentary is written on the charts.\r\n\r\nYou will find my charts, hopefully easy to follow. I only use Fibonacci levels, trend lines, confluence points and sometimes chart patterns to identify my high probability trades. If you have any difficulty understanding the points that I am trying to make, please do not hesitate to contact me.\r\n\r\nEUR/USD:\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/EURUSD-D-15012017.png\"><img class=\"aligncenter size-large wp-image-8938\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/EURUSD-D-15012017-1024x496.png\" alt=\"\" width=\"1024\" height=\"496\" /></a>\r\n\r\n&nbsp;\r\n\r\nGBP/USD:\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/GBPUSD-D-15012017.png\"><img class=\"aligncenter size-large wp-image-8939\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/GBPUSD-D-15012017-1024x496.png\" alt=\"\" width=\"1024\" height=\"496\" /></a>\r\n\r\n&nbsp;\r\n\r\nAUD/USD:\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/AUDUSD-D-15012017.png\"><img class=\"aligncenter size-large wp-image-8937\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/AUDUSD-D-15012017-1024x496.png\" alt=\"\" width=\"1024\" height=\"496\" /></a>\r\n\r\n&nbsp;\r\n\r\nNZD/USD:\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/NZDUSD-D-17012017.png\"><img class=\"aligncenter size-large wp-image-8940\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/NZDUSD-D-17012017-1024x496.png\" alt=\"\" width=\"1024\" height=\"496\" /></a>\r\n\r\n&nbsp;\r\n\r\nUSD/CAD:\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/USDCAD-D-15012017.png\"><img class=\"aligncenter size-large wp-image-8941\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/USDCAD-D-15012017-1024x496.png\" alt=\"\" width=\"1024\" height=\"496\" /></a>\r\n\r\n&nbsp;\r\n\r\nUSD/CHF:\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/USDCHF-D-15012017.png\"><img class=\"aligncenter size-large wp-image-8942\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/USDCHF-D-15012017-1024x496.png\" alt=\"\" width=\"1024\" height=\"496\" /></a>\r\n\r\n&nbsp;\r\n\r\nUSD/JPY:\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/USDJPY-D-15012017.png\"><img class=\"aligncenter size-large wp-image-8943\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/USDJPY-D-15012017-1024x496.png\" alt=\"\" width=\"1024\" height=\"496\" /></a>\r\n\r\n<strong>\r\n\r\n</strong>\r\n\r\n&nbsp;\r\n<ol start=\"3\">\r\n 	<li><strong>THE PREMIUM SERVICE:</strong></li>\r\n</ol>\r\n<u>WHAT IS THE PREMIUM SERVICE:</u>\r\n\r\nThe PREMIUM SERVICE is a subscriber, fee based trade set-up option for Forex traders regardless of experience or background. I provide traders suggested trades, and some market commentary related to open trades or factors within the overall market that have my interest.\r\n\r\nFull details of the PREMIUM SERVICE and costs to subscribe plus the various trade styles and how suggested trade set-ups are communicated can be found on my website landing page at <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a> by selecting THE PREMIUM SERVICE tab.\r\n\r\nAdditional information can be found by clicking TESTIMONIALS, PART-TIME TRADERS and FX PROMOTIONS tabs. To subscribe to THE PREMIUM SERVICE, you will require a valid credit card.\r\n\r\n<strong> </strong>\r\n<ol start=\"4\">\r\n 	<li><strong>PREMIUM SERVICE – SUBSCRIBER CONTENT AREA:</strong></li>\r\n</ol>\r\n<ol start=\"5\">\r\n 	<li><strong>SCOTT’S SOAPBOX:</strong></li>\r\n</ol>\r\nIf you recall, in my final “DRIVE THRU” of 2016, I provided a list of TRADING PREDICTIONS for 2017. I basically named several geopolitical events that I feel will weigh on the markets this year. Therefore, for the first few weeks of 2017, I want to look at these events in a little more detail.\r\n\r\nAs you will be aware, so much has been said already on the subjects that I have highlighted, I can only add points and views that are my own, based upon how I see things and how I am going to view trading around these events.\r\n<p style=\"text-align: center;\"><strong>THE EUROZONE “RISKS”</strong></p>\r\nI am a simple guy; originally from Liverpool, England. I like my football and I love Cricket and Formula 1 racing. I am neat and tidy about the house, everything has its place. My computers are orderly; everything is in folders. I have spreadsheets everywhere and spreadsheets for everything. I consider myself reasonably well organized.\r\n\r\nCan you possibly understand what a person with my disciplines at home must think of the EUROZONE?\r\n\r\nThe EUROZONE is everything I am not. Yet given the headcount and the minimal amount of actual work required to function, the EUROZONE could be the envy of all administrators and desk office organizers in the world. Why aren’t they?\r\n\r\nThe EUROZONE could be the “best practice” example touted all over the globe. However, it is not.\r\n\r\nThe EUROZONE is wasteful, costly, still an experiment and frankly completely lacking in an effective organizational structure. It is basically a shamble.\r\n\r\nThis begs the obvious question…\r\n\r\n“In the name of all that is Holy how the feck is still in existence?”\r\n\r\nThat is the “Who wants to be a Millionaire” $64,000.00 question… I don\'t know the answer.\r\n\r\nHow does this shambolic organization still manage to remain in existence? I did not use the words work or working deliberately when writing about the EUROZONE because that would mislead people.\r\n\r\nIf a visiting spaceship was to land in Brussels and go into one of the many EUROPEAN UNION buildings to “suss” out us humans of the planet earth, I reckon the would be fecked off out of Brussels within the hour, reporting back to base along the lines of “This planet is full of fecking idiots who do not know their arse’s from their elbows, leave these numpties alone - nothing to see here”.\r\n\r\nOn a serious note if there are beings from outer space let’s hope they do land in Brussels and not Silicone Valley. It’s a well-known fact you will get no common sense out of Brussels and any response you do get, you will not understand anyway. In Silicon Valley, they might actually see something worth talking.\r\n\r\nMoving on…\r\n\r\nOver the past five years or so, I have written so many times about the EUROZONE it just has to be my favourite subject. There is NOTHING about the EUROZONE that makes sense to me… I struggle to find just one thing.\r\n\r\nMaybe the fact that Brussels is connected via the Channel Tunnel by high speed train from London is a good thing. Feck all use that\'s going to be after BREXIT… no nothing good about Brussels.\r\n\r\nBack on track…\r\n\r\nBrussels is the “Can kicking down the road” world’s best champion. Every major issue, results with fudging the answer or providing a stop gap the solution. It is paradise for civil servants… maintain the status quo… do not rock the boat and plunder your way from catastrophe to catastrophe all without consequence as these people are all non-elected individuals. It is a Sir Humphrey Appleton existence, a plethora of pen pushing, desk sucking jotter blotters.\r\n\r\nThe EUROPEAN UNION politicians are only interested in popularity and accusations, pointing fingers and blaming their predecessors, they are simply not good at, or interested in fixing things and along with the Brussels civil service it is a marriage made in heaven.\r\n\r\nAll of this comes at a cost.\r\n\r\nWe have seen a dreadful failed German initiated policy of austerity, which plunged huge percentages of the population of Europe into unemployment, with failing support services like health, education and welfare being starved of cash at a time when it was needed the most.\r\n\r\nPensions were reduced, terms of employment extended… so much hardship was inflicted on the poorest part of the EU. Not exactly what you would call a union!!\r\n\r\nThere are 28 countries (at the moment) in the EUROPEAN UNION. 19 of these countries has adopted the single currency (EUR). This is effectively 19 countries with different needs, wants and desires and cultures using the same cheque book to function.\r\n\r\n19 into 1 does not go…!\r\n\r\nWhen times are hard this scenario of 19 into 1 is just exacerbated more and more. The one size fits all just DOES NOT work.\r\n\r\nBorn out of the EEC in 1999, the EUROPEAN UNION has had 17 years to fix basic standards of membership on:\r\n<ul>\r\n 	<li>Tax Harmonization.</li>\r\n 	<li>Banking procedures.</li>\r\n 	<li>Social integration.</li>\r\n 	<li>Immigration</li>\r\n 	<li>Defence</li>\r\n</ul>\r\nI could write more. None of the above work. We are 17 years into a project, an experiment and frankly 17 years from now if the EUROZONE / EUROPEAN UNION is still in existence, it will probably mean that, “Hell must have frozen over” there can be no other explanation.\r\n\r\nThis year the EUROZONE / EUROPEAN UNION faces its biggest test so far, the “RISKS” are monumental.\r\n<ul>\r\n 	<li>BREXIT</li>\r\n 	<li>A BREXIT CONTAGION</li>\r\n 	<li>RISE IN THE POPULIST VOTE</li>\r\n 	<li>IMMIGRATION INTO THE UNION</li>\r\n 	<li>ELECTIONS IN FRANCE, HOLLAND &amp; GERMANY</li>\r\n 	<li>GREEK DEBT – ACT IV</li>\r\n</ul>\r\nThere are a few more but let’s just stick with these standouts.\r\n\r\nThe EU is a disaster at problem solving, it could NOT coordinate a round of drinks for everyone even if they were sat in a brewery at the time.\r\n\r\nThere are concerns over a BREXIT CONTAGION, this is a real fear and it has never been addressed fully by the remaining EU partners.\r\n\r\nI sometimes wonder does GERMANY want the EU to fail so they can blame the BREXIT and its fallout. This matter would definitely help all the German politicians and growing number of anti-European voices being heard in Germany.\r\n\r\nThe fact that apart from the “No special deals for the UK” nothing has been done to unify the remaining members to keep the far-right parties under wraps. In fact, the very opposite has taken place in FRANCE and ITALY…so far.\r\n\r\nThe immigration issue was the primary factor that pushed the BREXIT vote to win the day. Border controls are critical at most times given the terrorist society that we all live in now. Immigration into the EU is like a leaky bucket. Access into the EU illegally is simple through GREECE, ITALY, FRANCE and SPAIN etc. Whilst there are measures in place they are over-whelmed. The legal routes are at breaking point.  There are some really sad cases and immigration rights can be argued for some, but for the volumes and costs that go with it, it is crippling and it is not measured accurately because the authorities at the access points are snowed under.\r\n\r\nThe populist vote is on the rise.\r\n<ul>\r\n 	<li>Sovereignty</li>\r\n 	<li>Representation</li>\r\n 	<li>Immigration</li>\r\n 	<li>Trade</li>\r\n 	<li>Redistribution</li>\r\n 	<li>Anti-corporatism</li>\r\n</ul>\r\nThese are the hallmarks of the far right. We now find these topics used in everyday conversations, something we didn’t see before. The following are right wing parties/groups that are now becoming more than just household names: -\r\n<ul>\r\n 	<li>The Freedom Party (Austria)</li>\r\n 	<li>Vlaams Belang (Belgium)</li>\r\n 	<li>The Danish Peoples Party (Denmark)</li>\r\n 	<li>National Front (France)</li>\r\n 	<li>Syriza (Greece)</li>\r\n 	<li>Five Star Movement (Italy)</li>\r\n 	<li>Lega Nord ((Italy)</li>\r\n 	<li>Party for Freedom (Holland)</li>\r\n 	<li>Podermos (Spain)</li>\r\n 	<li>Swedish Democrats (Sweden)</li>\r\n</ul>\r\nThere was a time these political parties would never get “air time” that\'s all changed now.\r\n\r\nGREECE cannot afford to repay the loans that the EU has saddled them with. It is a fact. Even with 10% inflation, which would never be allowed in the EU, the Greek government just could not repay its way out.\r\n\r\n“Can we have some more sir” please… will be heard again in Brussels and Frankfurt sooner rather than later this year. Debt relief is the only answer…talk to yerself Pickering!!\r\n\r\nWe also have parliamentary elections in FRANCE, HOLLAND and GERMANY this year. There are zero guarantees on the outcomes.\r\n\r\nThe biggie is BREXIT. I cannot utter anything else on BREXIT other than given the general state of the EUROPEAN UNION partner economies, the EUROPEAN UNION has more to fear from a BREXIT than the UK in my opinion.  I know that in recent months it could be argued that we have seen a bottom in the EUROZONE numbers and that data is improving. I would concede this point. However, we are working off such a low base, the recovery is quite fragile that in my opinion one huge geopolitical risk will place back a square one once again. There is more than one such geopolitical risk facing the EUROZONE.\r\n\r\nAll the above offers one thing… UNCERTAINTY… in fact its HUGE UNCERTAINTY on a scale not seen before. Given its record of dealing with major issues, I just cannot see the EUROPEAN UNION / EUROZONE surviving in its present shape.\r\n\r\nIt is so fecked up now before any of this really bites, it has real survival issues in my opinion.\r\n\r\nSell the EUR/USD on spikes is the trade. Hold your trades, do not oversize your positions. I believe it may stabilize in Q3 after the summer but prior to the summer of 2017 the EURO trade is just, in my opinion “SELL THE RIPS”\r\n\r\nThere are massive RISKS in EUROPE.\r\n\r\nI know I am a little biased but you check it out yourself. I am not that far away from reality.\r\n\r\n<strong> </strong>\r\n<ol start=\"6\">\r\n 	<li><strong>CLOSING THOUGHTS:</strong></li>\r\n</ol>\r\nNothing more to add here, I have said enough except,\r\n\r\nAs usual…\r\n\r\nAlways remember longevity in Forex trading can only be achieved through trading with good RISK and MONEY MANAGEMENT, and above all set your position sizes in accordance with the size of your account and allow for some flexibility.\r\n\r\nTake care, have a great trading week.\r\n\r\nScott Pickering\r\nThe Pip Accumulator\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/disclaimer/\">http://weeklyfxdrivethru.com/disclaimer/</a>\r\n\r\nBLOG VERSION: #227 FREE NEWSLETTER VERSION\r\nDATE: 15<sup>th</sup> January 2017.<strong>\r\n\r\n</strong>','THE EUROZONE “RISKS”','','inherit','closed','closed','','8949-revision-v1','','','2017-01-14 12:38:18','2017-01-14 17:38:18','',8949,'http://weeklyfxdrivethru.com/8949-revision-v1/',0,'revision','',0),(8951,1,'2017-01-14 12:43:57','2017-01-14 17:43:57','&nbsp;\r\n<ol>\r\n 	<li><strong> INTRODUCTION:</strong></li>\r\n</ol>\r\nTo say that the first week back trading after the holidays was “interesting” would be the biggest understatement ever and worthy of a paragraph or two in the “Guinness Book of Records”.\r\n\r\nI have never witnessed a press conference like “THE DONALDS”, (I can’t even keep a straight face when I write President Elect) ever in my 60 years on this planet. To say that it was a circus is an insult to Chipperfields, Barnum’s and Billy Smarts, however, it was so entertaining I let trades fly way in the aftermath as I wanted to see how CNN (The fake news TV network) would react.\r\n\r\nLet me just say, I think that CNN is condescending to its viewers, trashy, badly programmed with smug presenters who think they know everything about everyone and every subject in the world. Frankly it is NOT a news channel, it lost that classification months ago when it gave up news in favour of the nightly 8 around the table lets shout at and across each other broadcast. These people were alleged well informed guests and mostly “paid contributors” brought on to say what the station wanted. At times, it was a toss-up, between the comedy channel and CNN, they both made me laugh as much as each other.\r\n\r\nI firmly believe the career politicians on the hill who are blockages to reform, will be called out the same way that CNN was last Wednesday. TRUMP could not give a shit. He has his agenda. He will work it and like Mr. Magoo he will boldly walk forward never looking back to see the chaos and disorder left behind him. Get used to it. This is the way that things are going to be. Expect the unexpected. CNN look like they are screwed moving forwards as far as THE DONALD is concerned and in a very rushed, one could say childish response they released a press statement denying all charges.\r\n\r\nIn the run up to the election the “experts” on CNN had a real go at TRUMP, for what may be good reason, but the “He’s just not doing it the right way” approach and consistent message was way off point. They missed the feelings of the voters just like the Democrats and were completely perplexed by the election result.\r\n\r\nAll this stuff in the US about the popular vote is sour grapes and frankly is energy that could be put to better use. In an election that is NOT based upon proportional representation, it happens lots of times that the winner may not have the popular vote as well. Suck it up and move on. The only solution is electoral reform, and if you go down the route of proportional representation, you end up with coalitions that are usually weak and bugger all that was proposed and mandated never gets done.\r\n\r\nSo…. welcome 2017... not just a new year but a new way.\r\n\r\nI had EUR/USD and USD/CHF long term trades open during the press conference. They are long, long-term trades. They were up and down, up and down like a hooker’s knickers. Small positions based on POSITION STYLE trades off the monthly ATR so they do not worry me, but the volatility was huge…”bigly” (as Trump would say).\r\n\r\nHere is an easy prediction for the next 4 years... more of the same!!\r\n\r\nMoving on…\r\n\r\nI did my first PERISCOPE BROADCAST last Monday, despite my microphone not working. This Monday the 16<sup>th</sup> at 5:30PM EST is PERISCOPE #2 and I am borrowing my wife’s headset, therefore the “hearing me” issues should be eradicated. If you want to hear me log into PERISCOPE, my twitter address is @pipaccumulator.\r\n\r\nFinally, <a href=\"mailto:jc*******@gmail.com\">jc*******@gmail.com</a> is the first subscriber this year to receive a FREE 10 week PREMIUM SERVICE subscription, valued at CAD$1,000.00\r\n\r\nThis could be you. All you have to do to be a winner of the monthly draw is to register to receive this blog via email by signing up for the FREE NEWSLETTER on my welcome page at <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a> it is as simple as that.\r\n\r\n<strong> </strong>\r\n<ol start=\"2\">\r\n 	<li><strong> THE FX MARKET PLACE – LOOKING FORWARD:</strong></li>\r\n</ol>\r\n<strong><u>NOTE:</u></strong> This year, 2017, I am not going to look backwards in this section only forwards. News items / points of interest from the prior week will be covered in the introduction.\r\n\r\n<u>ECONOMIC DATA RELEASES:</u>\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/ECON-DATA-15012017.png\"><img class=\"aligncenter size-large wp-image-8934\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/ECON-DATA-15012017-1021x1024.png\" alt=\"\" width=\"1021\" height=\"1024\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n<u>MY THOUGHTS ON THE WEEK AHEAD:</u>\r\n\r\nA lot more economic data being released this coming week.\r\n\r\nThe high spot in the FX world, will of course be the ECB Press Conference, I doubt even another attacker on Draghi could create the same effect as the “TRUMP” press conference last week. It should be a far more businesslike sedate affair with the high noteworthy comments based around either a blue tie or red tie being worn!!\r\n\r\nThe BOC press conference in Canada will be very similar to that of the RBNZ… a few of the chaps sitting around drinking coffee and biscuits hanging on every breath that Stephen Poloz the BOC Governor takes. Apart from Vancouver, high-end house prices are rampant in Canada. Measures taken in Vancouver to stop outside investors bumping up prices have worked, but all that has happened is that those investors have moved east. There is a huge bubble about to burst in the housing market and this drive a wedge like a hot knife through butter, possibly triggering recession talks.\r\n\r\nI do not expect a rate cut this week, in fact, I expect Poloz to keep a neutral position like the RBNZ and to some extent the RBA. However, beneath his comments the Canadian economy has big risks in play.\r\n\r\nI have given up on the BOC being anything other than ultra Conservative; their reaction is comparable to that of a dinosaur.\r\n\r\nUK and Australian jobs are also on the agenda and they are usually market movers. Do not forget the Dairy auction prices, I wish I could. The NZD is without doubt the most over-valued pain in the arse currency to trade…. I always feel a little better after I have written that…. that damn flightless bird!! Those of you who are PREMIUM SERVICE subscribers will know where I am coming from.\r\n\r\n<u> </u>\r\n\r\n<u>USD MAJORS – “IMMEDIATE” SUPPORT &amp; RESISTANCE with TREND:</u>\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/T-CHART-15012017.png\"><img class=\"aligncenter size-large wp-image-8933\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/T-CHART-15012017-1024x805.png\" alt=\"\" width=\"1024\" height=\"805\" /></a>\r\n\r\nMy trade charts for the USD majors are below. My thoughts, views and commentary is written on the charts.\r\n\r\nYou will find my charts, hopefully easy to follow. I only use Fibonacci levels, trend lines, confluence points and sometimes chart patterns to identify my high probability trades. If you have any difficulty understanding the points that I am trying to make, please do not hesitate to contact me.\r\n\r\nEUR/USD:\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/EURUSD-D-15012017.png\"><img class=\"aligncenter size-large wp-image-8938\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/EURUSD-D-15012017-1024x496.png\" alt=\"\" width=\"1024\" height=\"496\" /></a>\r\n\r\n&nbsp;\r\n\r\nGBP/USD:\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/GBPUSD-D-15012017.png\"><img class=\"aligncenter size-large wp-image-8939\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/GBPUSD-D-15012017-1024x496.png\" alt=\"\" width=\"1024\" height=\"496\" /></a>\r\n\r\n&nbsp;\r\n\r\nAUD/USD:\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/AUDUSD-D-15012017.png\"><img class=\"aligncenter size-large wp-image-8937\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/AUDUSD-D-15012017-1024x496.png\" alt=\"\" width=\"1024\" height=\"496\" /></a>\r\n\r\n&nbsp;\r\n\r\nNZD/USD:\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/NZDUSD-D-17012017.png\"><img class=\"aligncenter size-large wp-image-8940\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/NZDUSD-D-17012017-1024x496.png\" alt=\"\" width=\"1024\" height=\"496\" /></a>\r\n\r\n&nbsp;\r\n\r\nUSD/CAD:\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/USDCAD-D-15012017.png\"><img class=\"aligncenter size-large wp-image-8941\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/USDCAD-D-15012017-1024x496.png\" alt=\"\" width=\"1024\" height=\"496\" /></a>\r\n\r\n&nbsp;\r\n\r\nUSD/CHF:\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/USDCHF-D-15012017.png\"><img class=\"aligncenter size-large wp-image-8942\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/USDCHF-D-15012017-1024x496.png\" alt=\"\" width=\"1024\" height=\"496\" /></a>\r\n\r\n&nbsp;\r\n\r\nUSD/JPY:\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/USDJPY-D-15012017.png\"><img class=\"aligncenter size-large wp-image-8943\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/USDJPY-D-15012017-1024x496.png\" alt=\"\" width=\"1024\" height=\"496\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n<ol start=\"3\">\r\n 	<li><strong>THE PREMIUM SERVICE:</strong></li>\r\n</ol>\r\n<u>WHAT IS THE PREMIUM SERVICE:</u>\r\n\r\nThe PREMIUM SERVICE is a subscriber, fee based trade set-up option for Forex traders regardless of experience or background. I provide traders suggested trades, and some market commentary related to open trades or factors within the overall market that have my interest.\r\n\r\nFull details of the PREMIUM SERVICE and costs to subscribe plus the various trade styles and how suggested trade set-ups are communicated can be found on my website landing page at <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a> by selecting THE PREMIUM SERVICE tab.\r\n\r\nAdditional information can be found by clicking TESTIMONIALS, PART-TIME TRADERS and FX PROMOTIONS tabs. To subscribe to THE PREMIUM SERVICE, you will require a valid credit card.\r\n\r\n<strong> </strong>\r\n<ol start=\"4\">\r\n 	<li><strong>PREMIUM SERVICE – SUBSCRIBER CONTENT AREA:</strong></li>\r\n</ol>\r\n<ol start=\"5\">\r\n 	<li><strong>SCOTT’S SOAPBOX:</strong></li>\r\n</ol>\r\nIf you recall, in my final “DRIVE THRU” of 2016, I provided a list of TRADING PREDICTIONS for 2017. I basically named several geopolitical events that I feel will weigh on the markets this year. Therefore, for the first few weeks of 2017, I want to look at these events in a little more detail.\r\n\r\nAs you will be aware, so much has been said already on the subjects that I have highlighted, I can only add points and views that are my own, based upon how I see things and how I am going to view trading around these events.\r\n<p style=\"text-align: center;\"><strong>THE EUROZONE “RISKS”</strong></p>\r\nI am a simple guy; originally from Liverpool, England. I like my football and I love Cricket and Formula 1 racing. I am neat and tidy about the house, everything has its place. My computers are orderly; everything is in folders. I have spreadsheets everywhere and spreadsheets for everything. I consider myself reasonably well organized.\r\n\r\nCan you possibly understand what a person with my disciplines at home must think of the EUROZONE?\r\n\r\nThe EUROZONE is everything I am not. Yet given the headcount and the minimal amount of actual work required to function, the EUROZONE could be the envy of all administrators and desk office organizers in the world. Why aren’t they?\r\n\r\nThe EUROZONE could be the “best practice” example touted all over the globe. However, it is not.\r\n\r\nThe EUROZONE is wasteful, costly, still an experiment and frankly completely lacking in an effective organizational structure. It is basically a shamble.\r\n\r\nThis begs the obvious question…\r\n\r\n“In the name of all that is Holy how the feck is still in existence?”\r\n\r\nThat is the “Who wants to be a Millionaire” $64,000.00 question… I don\'t know the answer.\r\n\r\nHow does this shambolic organization still manage to remain in existence? I did not use the words work or working deliberately when writing about the EUROZONE because that would mislead people.\r\n\r\nIf a visiting spaceship was to land in Brussels and go into one of the many EUROPEAN UNION buildings to “suss” out us humans of the planet earth, I reckon the would be fecked off out of Brussels within the hour, reporting back to base along the lines of “This planet is full of fecking idiots who do not know their arse’s from their elbows, leave these numpties alone - nothing to see here”.\r\n\r\nOn a serious note if there are beings from outer space let’s hope they do land in Brussels and not Silicone Valley. It’s a well-known fact you will get no common sense out of Brussels and any response you do get, you will not understand anyway. In Silicon Valley, they might actually see something worth talking.\r\n\r\nMoving on…\r\n\r\nOver the past five years or so, I have written so many times about the EUROZONE it just has to be my favourite subject. There is NOTHING about the EUROZONE that makes sense to me… I struggle to find just one thing.\r\n\r\nMaybe the fact that Brussels is connected via the Channel Tunnel by high speed train from London is a good thing. Feck all use that\'s going to be after BREXIT… no nothing good about Brussels.\r\n\r\nBack on track…\r\n\r\nBrussels is the “Can kicking down the road” world’s best champion. Every major issue, results with fudging the answer or providing a stop gap the solution. It is paradise for civil servants… maintain the status quo… do not rock the boat and plunder your way from catastrophe to catastrophe all without consequence as these people are all non-elected individuals. It is a Sir Humphrey Appleton existence, a plethora of pen pushing, desk sucking jotter blotters.\r\n\r\nThe EUROPEAN UNION politicians are only interested in popularity and accusations, pointing fingers and blaming their predecessors, they are simply not good at, or interested in fixing things and along with the Brussels civil service it is a marriage made in heaven.\r\n\r\nAll of this comes at a cost.\r\n\r\nWe have seen a dreadful failed German initiated policy of austerity, which plunged huge percentages of the population of Europe into unemployment, with failing support services like health, education and welfare being starved of cash at a time when it was needed the most.\r\n\r\nPensions were reduced, terms of employment extended… so much hardship was inflicted on the poorest part of the EU. Not exactly what you would call a union!!\r\n\r\nThere are 28 countries (at the moment) in the EUROPEAN UNION. 19 of these countries has adopted the single currency (EUR). This is effectively 19 countries with different needs, wants and desires and cultures using the same cheque book to function.\r\n\r\n19 into 1 does not go…!\r\n\r\nWhen times are hard this scenario of 19 into 1 is just exacerbated more and more. The one size fits all just DOES NOT work.\r\n\r\nBorn out of the EEC in 1999, the EUROPEAN UNION has had 17 years to fix basic standards of membership on:\r\n<ul>\r\n 	<li>Tax Harmonization.</li>\r\n 	<li>Banking procedures.</li>\r\n 	<li>Social integration.</li>\r\n 	<li>Immigration</li>\r\n 	<li>Defence</li>\r\n</ul>\r\nI could write more. None of the above work. We are 17 years into a project, an experiment and frankly 17 years from now if the EUROZONE / EUROPEAN UNION is still in existence, it will probably mean that, “Hell must have frozen over” there can be no other explanation.\r\n\r\nThis year the EUROZONE / EUROPEAN UNION faces its biggest test so far, the “RISKS” are monumental.\r\n<ul>\r\n 	<li>BREXIT</li>\r\n 	<li>A BREXIT CONTAGION</li>\r\n 	<li>RISE IN THE POPULIST VOTE</li>\r\n 	<li>IMMIGRATION INTO THE UNION</li>\r\n 	<li>ELECTIONS IN FRANCE, HOLLAND &amp; GERMANY</li>\r\n 	<li>GREEK DEBT – ACT IV</li>\r\n</ul>\r\nThere are a few more but let’s just stick with these standouts.\r\n\r\nThe EU is a disaster at problem solving, it could NOT coordinate a round of drinks for everyone even if they were sat in a brewery at the time.\r\n\r\nThere are concerns over a BREXIT CONTAGION, this is a real fear and it has never been addressed fully by the remaining EU partners.\r\n\r\nI sometimes wonder does GERMANY want the EU to fail so they can blame the BREXIT and its fallout. This matter would definitely help all the German politicians and growing number of anti-European voices being heard in Germany.\r\n\r\nThe fact that apart from the “No special deals for the UK” nothing has been done to unify the remaining members to keep the far-right parties under wraps. In fact, the very opposite has taken place in FRANCE and ITALY…so far.\r\n\r\nThe immigration issue was the primary factor that pushed the BREXIT vote to win the day. Border controls are critical at most times given the terrorist society that we all live in now. Immigration into the EU is like a leaky bucket. Access into the EU illegally is simple through GREECE, ITALY, FRANCE and SPAIN etc. Whilst there are measures in place they are over-whelmed. The legal routes are at breaking point.  There are some really sad cases and immigration rights can be argued for some, but for the volumes and costs that go with it, it is crippling and it is not measured accurately because the authorities at the access points are snowed under.\r\n\r\nThe populist vote is on the rise.\r\n<ul>\r\n 	<li>Sovereignty</li>\r\n 	<li>Representation</li>\r\n 	<li>Immigration</li>\r\n 	<li>Trade</li>\r\n 	<li>Redistribution</li>\r\n 	<li>Anti-corporatism</li>\r\n</ul>\r\nThese are the hallmarks of the far right. We now find these topics used in everyday conversations, something we didn’t see before. The following are right wing parties/groups that are now becoming more than just household names: -\r\n<ul>\r\n 	<li>The Freedom Party (Austria)</li>\r\n 	<li>Vlaams Belang (Belgium)</li>\r\n 	<li>The Danish Peoples Party (Denmark)</li>\r\n 	<li>National Front (France)</li>\r\n 	<li>Syriza (Greece)</li>\r\n 	<li>Five Star Movement (Italy)</li>\r\n 	<li>Lega Nord ((Italy)</li>\r\n 	<li>Party for Freedom (Holland)</li>\r\n 	<li>Podermos (Spain)</li>\r\n 	<li>Swedish Democrats (Sweden)</li>\r\n</ul>\r\nThere was a time these political parties would never get “air time” that\'s all changed now.\r\n\r\nGREECE cannot afford to repay the loans that the EU has saddled them with. It is a fact. Even with 10% inflation, which would never be allowed in the EU, the Greek government just could not repay its way out.\r\n\r\n“Can we have some more sir” please… will be heard again in Brussels and Frankfurt sooner rather than later this year. Debt relief is the only answer…talk to yerself Pickering!!\r\n\r\nWe also have parliamentary elections in FRANCE, HOLLAND and GERMANY this year. There are zero guarantees on the outcomes.\r\n\r\nThe biggie is BREXIT. I cannot utter anything else on BREXIT other than given the general state of the EUROPEAN UNION partner economies, the EUROPEAN UNION has more to fear from a BREXIT than the UK in my opinion.  I know that in recent months it could be argued that we have seen a bottom in the EUROZONE numbers and that data is improving. I would concede this point. However, we are working off such a low base, the recovery is quite fragile that in my opinion one huge geopolitical risk will place back a square one once again. There is more than one such geopolitical risk facing the EUROZONE.\r\n\r\nAll the above offers one thing… UNCERTAINTY… in fact its HUGE UNCERTAINTY on a scale not seen before. Given its record of dealing with major issues, I just cannot see the EUROPEAN UNION / EUROZONE surviving in its present shape.\r\n\r\nIt is so fecked up now before any of this really bites, it has real survival issues in my opinion.\r\n\r\nSell the EUR/USD on spikes is the trade. Hold your trades, do not oversize your positions. I believe it may stabilize in Q3 after the summer but prior to the summer of 2017 the EURO trade is just, in my opinion “SELL THE RIPS”\r\n\r\nThere are massive RISKS in EUROPE.\r\n\r\nI know I am a little biased but you check it out yourself. I am not that far away from reality.\r\n\r\n<strong> </strong>\r\n<ol start=\"6\">\r\n 	<li><strong>CLOSING THOUGHTS:</strong></li>\r\n</ol>\r\nNothing more to add here, I have said enough except,\r\n\r\nAs usual…\r\n\r\nAlways remember longevity in Forex trading can only be achieved through trading with good RISK and MONEY MANAGEMENT, and above all set your position sizes in accordance with the size of your account and allow for some flexibility.\r\n\r\nTake care, have a great trading week.\r\n\r\nScott Pickering\r\nThe Pip Accumulator\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/disclaimer/\">http://weeklyfxdrivethru.com/disclaimer/</a>\r\n\r\nBLOG VERSION: #227 FREE NEWSLETTER VERSION\r\nDATE: 15<sup>th</sup> January 2017.\r\n\r\n&nbsp;','THE EUROZONE “RISKS”','','inherit','closed','closed','','8949-revision-v1','','','2017-01-14 12:43:57','2017-01-14 17:43:57','',8949,'http://weeklyfxdrivethru.com/8949-revision-v1/',0,'revision','',0),(8954,1,'2017-01-17 16:24:59','2017-01-17 21:24:59','','WEBINARS - 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WHAT IS THE PREMIUM SERVICE?</strong></p>\r\nThe PREMIUM SERVICE is a Forex subscription service that provides you with trade set-ups. Set ups mostly happen by a strategic entry level but they can also be live in a moving market.  In addition to me advising you what trades I am looking at I also provide you on most days, market commentary relating to moves in the market that interest me, or my thoughts on up coming data releases or potential geopolitical events.\r\n\r\nWhilst I cannot 100% guarantee that you will make money from the trades I suggest, the PREMIUM SERVICE now has a four-year historic track record of  profitable performances. The PREMIUM SERVICE is open to all traders whether new, intermediate or experienced regardless of the size of your investment into the Forex market.\r\n\r\nI like to think that the PREMIUM SERVICE is different from other TRADE SIGNAL providers. I trade ALL my suggested trade setups. I have \"Skin\" in the market.\r\n\r\n</div>\r\n<div>\r\n\r\nI know that some traders prefer to watch video presentations instead of reading through a few paragraphs of information. If you are one of these people, and you prefer to watch a short video about the PREMIUM SERVICE  called \"WHY CHOOSE THE PREMIUM SERVICE in 2018?\", this can be found by clicking the link below: -\r\n<p style=\"text-align: center;\"><a href=\"http://screencasts.weeklyfxdrivethru.com/Whychoose2018\">WHY CHOOSE THE PREMIUM SERVICE in 2018?</a></p>\r\n&nbsp;\r\n\r\n<strong>2. HOW DID THE PREMIUM SERVICE EVOLVE?, HOW DOES IT WORK? and WHAT GIVES IT DIFFERENTIATION?</strong>\r\n\r\nI started trading Forex in 2008.\r\n\r\nI started the WEEKLY FX DRIVE THRU blog in 2011 and in 2012/2013 in addition to my market commenrtary, I started to add trade set ups to the blog. Late 2013, I decided to separate the market commentary from the trade set ups and in January 2014 the PREMIUM SERVICE started. I have never looked back. My 10,000 pip target per annum has been beaten each year.\r\n\r\n</div>\r\n<div>\r\n\r\nThe PREMIUM SERVICE is NOT an automated system.\r\n\r\nI have a simple annual target on pips; 10,000 net profitable pips.\r\n\r\nI let you know what trade set-ups and trades  are on “MY RADAR”. I post trade set-ups at the <strong>@</strong>ThePremService twitter feed and I also email  the set-up data for all trade styles, except FLASH trades. During a typical week about 10 trades on average are posted. It is up to you if you decide to follow these trades or not, I am, just telling you what I am doing.\r\n\r\nPREMIUM SERVICE subscribers have access to an exclusive secure twitter feed into which 24x7 I will tweet trade ideas, set-ups, amendments to limit orders, amendments to live trades, basically anything that is on my mind. (Whilst I live on Atlantic time (AST) I am active in most sessions, I try to catch up on sleep at the weekends).\r\n\r\nSubscribers also have access to a whole section of training materials on the website. All the trades that are entered are summarized and posted on excel spreadsheets on the website, so that you can see if you did not take a particular trade, whether it made money or not.\r\n\r\nNew in 2017, PREMIUM SERVICE (PLATINUM) subscribers will also receive if they want it, a monthly review one-on-one with me about the way the markets are trading, my general fundamental thoughts and views, plus we can review active trading styles etc. It is not compulsory for PLATINUM subscribers it is an option.\r\n\r\nI also provide bespoke training, if  YOU want it. This is priced individually based upon YOUR needs, timings and requirements. More details about this can be found under the EDUCATION tab in the section called Mentoring and Coaching.\r\n\r\nTrading for me is for the \"Long Haul\". I use TRADE, ACCOUNT and MIND MANAGEMENT techniques to ensure that I am around for the long haul.\r\n\r\nRead my TESTIMONIALS section, do not just take my word for it.  Everything is published...both the good and the not so good. Like every Forex trader I have losses, it is part of trading when RISK is involved. I have NO secrets, all good and bad trades are published. What you see is what you get; I am NOT a CITIBANK or BARCLAYS, I am Scott Pickering a Forex Trader.\r\n\r\nTrading Forex is not a win it quick cash grab. It is basically a RISK ASSESSMENT analysis of  trading charts supported by a FUNDAMENTAL overview of the market. It is fascinating, exciting, thrilling, very rewarding but also frustrating and annoying all at the same time. There are many things written about Forex. It is often called a \"gamblers paradise\" because it\'s a 50-50 option....simply up or down. Better odds than Las Vegas. There is much more to Forex Trading than odds.\r\n\r\nIf you are a gambler please just go to Las Vegas or your closest Casino. Trading Forex involves added risk due to LEVERAGE that Las Vegas does NOT have.\r\n\r\nI can help you through the all the issues no matter what level of trading experience you have, as I have mentioned already I am a trainer / educator as well as a trader and one of my personal goals is to help traders trade with greater consistency as this provides longevity in trading.\r\n\r\nSo, what do you receive from me as a subscriber to the PREMIUM SERVICE: -\r\n\r\nAs soon as I see a trade set-up or a trade that I want to trade, I send out a tweet via my subscribers only TWITTER account @ThePremService. See the examples below, they also include trade amendment tweets as an example of a brief market commentary tweets: -\r\n\r\n</div>\r\n<div> <a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/Screen-Shot-2017-12-19-at-8.28.45-AM.png\"><img class=\"aligncenter size-full wp-image-10700\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/Screen-Shot-2017-12-19-at-8.28.45-AM.png\" alt=\"\" width=\"540\" height=\"690\" /></a></div>\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/Screen-Shot-2017-12-19-at-8.30.57-AM.png\"><img class=\"aligncenter size-full wp-image-10697\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/Screen-Shot-2017-12-19-at-8.30.57-AM.png\" alt=\"\" width=\"558\" height=\"686\" /></a>\r\n\r\n&nbsp;\r\n\r\nFollowing the twitter communication for all of my TRADE STYLES (Full details of my TRADE STYLES are provided upon subscribing) excluding FLASH TRADES an excel spreadsheet containing additional data behind the trade is also supplied, along with a further copy of the relevent trade chart.\r\n\r\nAs you can see the trade set up is clear and is coded to the TYPE (FUNDAMENTAL ) of trade with a reference number (FUN808 to match the tweet above) that is used throughout my website and all communications to track the performance of the trade.\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/Screen-Shot-2017-12-19-at-8.30.04-AM.png\"><img class=\"aligncenter size-large wp-image-10695\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/Screen-Shot-2017-12-19-at-8.30.04-AM-816x1024.png\" alt=\"\" width=\"816\" height=\"1024\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/Screen-Shot-2017-12-19-at-8.30.19-AM.png\"><img class=\"aligncenter size-large wp-image-10696\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/Screen-Shot-2017-12-19-at-8.30.19-AM-1024x810.png\" alt=\"\" width=\"1024\" height=\"810\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\"><strong>PLEASE NOTE:</strong></span>\r\n\r\nI am a trader 24x5 and NOT all trades will remain open based upon the original trade  parameters outlined when the set-up is posted. I have to adjust to the trade as the trade moves and how the markets are performing. I have to react to geopolitical news events as they happen.\r\n\r\nI will tell you via TWITTER what I am doing, whether it be moving the LIMIT position or the STOP position etc. but trading is also about reacting to market conditions and some trades will close earlier than originally intended and some trades will be pro-longed. I trade with FULL flexibility within my TRADING PLAN guidelines.\r\n\r\nIn addition to set-ups, I also provide some market insights and commentaries. This may come via email or via TWITTER as the example below: -\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/Screen-Shot-2017-12-19-at-8.26.52-AM.png\"><img class=\"aligncenter size-full wp-image-10698\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/Screen-Shot-2017-12-19-at-8.26.52-AM.png\" alt=\"\" width=\"546\" height=\"542\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/Screen-Shot-2017-12-19-at-8.27.13-AM.png\"><img class=\"aligncenter size-full wp-image-10699\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/Screen-Shot-2017-12-19-at-8.27.13-AM.png\" alt=\"\" width=\"550\" height=\"390\" /></a>\r\n\r\n&nbsp;\r\n\r\nEach weekend, in addition to the commentary and insights that you receive from time to time during the week, as a subscriber you have access to a complete version of the WEEKLY FX DRIVE THRU blog via the secure \"subscribers only area\" of my website. The exclusive subscriber version contains more information than the FREE NEWSLETTER version.\r\n\r\nIn the subscribers only area, there are pages of Forex background educational pages covering chart analysis, candlestick patterns and many trade style articles that support you as a Forex Trader. Also in this area is the history of the PREMIUM SERVICE covering its trading history.\r\n<ul>\r\n 	<li>I try to be different than other \"Signal Services\".</li>\r\n 	<li>I am a human, NOT a robot.</li>\r\n 	<li>I am a trader - I trade all the trade set-ups I provide.</li>\r\n 	<li>My trades are transparent and I have losses like every trader has.</li>\r\n 	<li>My goal is to generate 10,000 net pips per year</li>\r\n 	<li>I work long hours and I eat and breathe the Forex market.</li>\r\n 	<li>As a subscriber, I tell you what I am doing and when I am doing it. It is up to you if you follow, copy or do your own thing.</li>\r\n 	<li>If you have any questions regarding a PREMIUM SERVICE subscription, please contact me at: - premiumservice@weeklyfxdrivethru(dotcom)</li>\r\n</ul>\r\n<div>\r\n\r\nFinally, you should be aware as I trade my own trades, I only trade when the market gives me parameters that line up with my TRADE PLAN. If there are no trade set ups that meet my criteria I do NOT trade.\r\n\r\n</div>\r\n<div>\r\n\r\n&nbsp;\r\n\r\n<strong>3. THE PREMIUM SERVICE –  ANNUAL RESULTS 2014, 2015, 2016 and 2017: (Please note 2017 PREMIUM SERVICE trading completed on 22.12.2017)</strong>\r\n\r\nTo give a complete view of the returns possible using the PREMIUM SERVICE, the annual performances below, include costs to trade that I am involved with, such as the costs to place a trade with your broker and the annual PREMIUM SERVICE subscription fees.\r\n\r\n<span style=\"text-decoration: underline;\">PLEASE NOTE</span>: - The returns shown below are based off trading just single lots in each trading style/category. Obviously, if are able to trade two lot position sizes the gross returns would be double and the costs to trade also double. RISK MANAGEMENT also comes into play when position sizes increase and should you require help or guidance on this subject please contact me. In addition, remember, the spread sheets below show a net position including an annual subscription to the PREMIUM SERVICE.\r\n\r\n<strong>2017 COMPLETE (PLEASE NOTE - These figures include a 12 month PREMIUM SERVICE subscription):</strong>\r\n\r\n</div>\r\n<div>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/PS-NET-PROFITS-2017-COMPLETE.png\"><img class=\"aligncenter size-large wp-image-10723\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/PS-NET-PROFITS-2017-COMPLETE-972x1024.png\" alt=\"\" width=\"972\" height=\"1024\" /></a>\r\n\r\n&nbsp;\r\n<div>\r\n<p style=\"text-align: center;\"><strong>Looking specifically at 2017 above:</strong></p>\r\n<p style=\"text-align: center;\">Let\'s assume that you are a single mini lot trader of ALL trades that were suggested.</p>\r\n\r\n</div>\r\n<p style=\"text-align: center;\">You would have made 621 trades\r\nCost $621.00\r\nGross Income from the 621 trades = $12,220.00\r\nLess your cost to trade of $621.00 = Net income of $11,599.00\r\nLess your PREMIUM SERVICE subscription of $ 995.00* = <strong><span style=\"text-decoration: underline;\">$10,604.00</span>\r\n</strong>(*CAD$ equivalent)</p>\r\n<p style=\"text-align: center;\">From your investment of $621 you could make $10,604.00\r\nEverything is published there are no secrets.</p>\r\n<p style=\"text-align: center;\">You just have to work at your screens as much as I do to be around for every trade set up\r\nWhere else can you get such a return on capital?</p>\r\n<p style=\"text-align: center;\">If you were able to trade 2 x mini lots your net return could be:-\r\n($12,220.00 x 2 = $24,440.00 - (621 x 2 ) $1,242 = $23,198.00\r\nLess your PREMIUM SERVICE subscription of $995.00 = <span style=\"text-decoration: underline;\"><strong>$22,203.00</strong></span></p>\r\n<p style=\"text-align: center;\">You just to have to ensure that you have a broker account that can accommodate the risks involved to trade at these trade sizes relevant to the income goals that you have set yourself.</p>\r\n<p style=\"text-align: center;\">But you must take note that at any one time there can be as many as 30 live trades in operation with variable STOP LOSS RISKS attached to them. You need to consider the potential risks associated and fund your account accordingly to accommodate the flexibility that is required.</p>\r\n<p style=\"text-align: center;\">If you do not do this you will potentially expose yourself to margin calls from your broker.</p>\r\n<p style=\"text-align: center;\">As long as you trade with real and effective RISK MANAGEMENT and POSITION SIZING principles\r\nin place and trade in accordance with your TRADING PLAN, it is possible to make money part of full-time from Forex Trading.</p>\r\n<p style=\"text-align: center;\">At ALL times you need TRADING DISCIPLINE in place to ensure longevity in trading. This is key and fundamental to success.</p>\r\n<p style=\"text-align: center;\"><strong>PLEASE NOTE:</strong>\r\nYou must ensure that with any trading account  you have a sufficient balance to accommodate the risks involved in trading.\r\nThis is crucial to your trading success and you should not manage an account in which you trade too large a position size as this will only result in margin calls from your broker.\r\nWhich, in my opinion is a 100% recipe for a complete and utter disaster.\r\nYou must trade and operate an account sufficient to cope with the swings that you get with trading from profit to loss, as mentioned earlier\r\ntrading Forex involves RISK and this must be managed.\r\nIf you have questions on this subject please contact me at premiumservice@weeklyfxdrivethru.com\r\nI am here to help.</p>\r\n&nbsp;\r\n\r\n<strong>2016 COMPLETE (PLEASE NOTE - These figures include a 12 month PREMIUM SERVICE subscription):\r\n</strong>\r\n\r\n<strong><a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/PS-PROFITS-NET-2016-COMPLETE.png\"><img class=\"aligncenter size-large wp-image-10499\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/PS-PROFITS-NET-2016-COMPLETE-975x1024.png\" alt=\"\" width=\"975\" height=\"1024\" /></a></strong>\r\n\r\n<strong>2015 COMPLETE (PLEASE NOTE - These figures include a 12 month PREMIUM SERVICE subscription):</strong>\r\n\r\n<strong><a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/TOTAL-2015.png\">\r\n<img class=\"aligncenter size-large wp-image-10688\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/TOTAL-2015-1024x1006.png\" alt=\"\" width=\"1024\" height=\"1006\" /></a></strong>\r\n<div>\r\n\r\n&nbsp;\r\n<p style=\"text-align: left;\"><strong>2014 COMPLETE (PLEASE NOTE - These figures include a 12 month PREMIUM SERVICE subscription):</strong></p>\r\n\r\n</div>\r\n</div>\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/TOTAL-2014.png\"><img class=\"aligncenter size-large wp-image-10687\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/TOTAL-2014-1024x1015.png\" alt=\"\" width=\"1024\" height=\"1015\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n<strong>4. WHAT ABOUT THIS YEARS PERFORMANCE IN 2018?</strong>\r\n\r\nRemember all profitability in my reporting is based upon single lot trading.\r\n\r\nSingle x Micro Lot trading cost US$0.10\r\nSingle x Micro Lot trading cost US$1.00\r\nSingle x Standard Lot trading cost US$10.00\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2018/01/NET-PS-PERF-JAN2018.png\"><img class=\"aligncenter size-large wp-image-10905\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2018/01/NET-PS-PERF-JAN2018-939x1024.png\" alt=\"\" width=\"939\" height=\"1024\" /></a>\r\n<p style=\"text-align: center;\"><strong>As you can see from the excel spread sheet above both single mini lot and single standard lots traders\r\n</strong><strong>have more than covered the costs of their annual subscriptions already after just one month!</strong></p>\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2018/01/PL-RATIOS-JAN2018.png\"><img class=\"aligncenter size-large wp-image-10906\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2018/01/PL-RATIOS-JAN2018-910x1024.png\" alt=\"\" width=\"910\" height=\"1024\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n<div>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2018/01/PIP-COMPARISON-JAN2018.png\"><img class=\"aligncenter size-large wp-image-10907\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2018/01/PIP-COMPARISON-JAN2018-1024x811.png\" alt=\"\" width=\"1024\" height=\"811\" /></a>\r\n\r\n&nbsp;\r\n\r\n<strong>5. PREMIUM SERVICE SUBSCRIPTION DETAILS:</strong>\r\n\r\nThere are 40 weekly \"DRIVE THRU\" blogs per year. I do not write in the summer and over Christmas periods. There will be an unlimited amount of Twitter follow-ups to the exclusive subscribers on a Twitter secure feed during the week to review and act upon “FLASH, RADAR, MOMENTUM, FUNDAMENTAL and POSITION trades” and issues emanating from previous blogs.\r\n\r\n</div>\r\n<strong>SUBSCRIPTION HIGHLIGHTS:</strong><u>\r\n</u>\r\n<ul>\r\n 	<li>3  subscription options.</li>\r\n 	<li>100% access to the PREMIUM SERVICE area of my website <a href=\"http://www.weeklyfxdrivethru.com/\">www.weeklyfxdrivethru.com</a></li>\r\n 	<li>A dedicated exclusive twitter feed @ThePremService.</li>\r\n 	<li>All trade set-ups communicated via Twitter and RADAR, MOMENTUM, FUNDAMENTAL and POSITION trades additionally via email.</li>\r\n 	<li>The full and complete version of The WEEKLY FX DRIVE THRU viewable on line inside the PREMIUM SERVICE secure section of <a href=\"http://www.weeklyfxdrivethru.com/\">www.weeklyfxdrivethru.com</a></li>\r\n 	<li>My thoughts and comments on market conditions via twitter and/or email.</li>\r\n 	<li>Option to request individual / bespoke \"one-on-one coaching\".</li>\r\n 	<li>PLATINUM MEMBERS (Annual subscribers - the highest level of subscription), will receive additional benefits over and above the other subscriber levels, such as optional monthly REVIEW MEETINGS.</li>\r\n 	<li>In addition ALL existing PLATINUM MEMBERS (annual subscribers) receive a 20% discount off their annual renewal subscription when they re-subscribe.</li>\r\n</ul>\r\n<h4>SUBSCRIPTION OPTIONS:</h4>\r\n<h4>MONTHLY ROLLOVER</h4>\r\n<div class=\"clearfix\" style=\"margin-bottom: 15px;\">\r\n<div class=\"one-half first\">\r\n<div class=\"subscription\">\r\n<p class=\"length\">SILVER MEMBER:\r\nTry the PREMIUM SERVICE for just CAD $10.00 for 10 days.\r\nAfter the 10 days your MONTHLY ROLLOVER subscription cost is CAD $150.00 (this equates to CAD $34.65 per week)</p>\r\n\r\n</div>\r\n</div>\r\n</div>\r\n<h4>FIXED PERIOD OPTIONS</h4>\r\n<div class=\"clearfix\" style=\"margin-bottom: 15px;\">\r\n<div class=\"one-half first\">\r\n<div class=\"subscription\">\r\n<p class=\"length\">GOLD MEMBER:\r\n6 Months (20 WEEKS) SUBSCRIPTION: CAD$800.00\r\n(this equates to CAD$40.00 per week)</p>\r\n\r\n</div>\r\n</div>\r\n</div>\r\n<div class=\"clearfix\" style=\"margin-bottom: 15px;\">\r\n<div class=\"one-half first\">\r\n<div class=\"subscription\">\r\n<p class=\"length\">PLATINUM MEMBER:\r\nANNUAL (40 WEEK) SUBSCRIPTION: CAD$1,250.00\r\n(this equates to CAD$31.25 per week)</p>\r\n\r\n</div>\r\n</div>\r\n</div>\r\n(All Fees are quoted in CAD$)\r\n\r\n&nbsp;\r\n\r\n<strong>6. IF <span style=\"text-decoration: underline;\">YOU</span> ARE INTERESTED IN JOINING THE PREMIUM SERVICE <span style=\"text-decoration: underline;\">WHAT DO YOU NEXT</span>?</strong>\r\n\r\nIf you are happy with all the above and want to move forward to the next stage, here is what you do: -\r\n\r\nSubscribing to the PREMIUM SERVICE takes literally just 5 minutes maximum. On my welcome page go to SUBSCRIBE HERE at the top of the page to sign up. Choose the level of subscription that you want and period that you want to subscribe for.  It\'s very fast, easy and convenient.\r\n\r\nIn addition you should also check the PROMOTION tab at the top of this page as well, as from time to time they can be extremely attractive.\r\n\r\nI hope that you will find the argument to sign up and subscribe to the PREMIUM SERVICE compelling and look forward to welcoming you onboard soon.\r\n\r\nIf you have any questions at all or want additional information about anything to do with the PREMIUM SERVICE please email me at: - premiumservice@weeklyfxdrivethru(dotcom)\r\n\r\n<strong>\r\n</strong><strong>7. FX BROKERS AND ADDITIONAL FOREX TRADING SUPPORT:</strong>\r\n\r\nOn my landing page there are a number of banners from brokers and equipment suppliers. These are my recommended relationships. Clicking on their banners establishes a link between the PREMIUM SERVICE (Me), the broker and you. As an educator one of my key objectives is to help and guide as best I can all traders to improve their consistency and profitability through trading. My preferred brokers from time to time will offer special incentives for new clients and as clients introduced via the PREMIUM SERVICE an additional support level is added.\r\n\r\nIf you are looking to add a Forex broker, please click on the banners and explore the options. Alternatively, please feel free to contact me should you have any questions.\r\n\r\n&nbsp;\r\n<div>\r\n\r\nScott Pickering\r\nThe Pip Accumulator\r\n31st January 2018\r\nhttp://www.weeklyfxdrivethru.com/disclaimer/\r\n\r\n</div>\r\n<div>\r\n\r\n<span style=\"text-decoration: underline;\"><strong>DISCLAIMER:</strong></span>\r\n\r\nFLASH, RADAR, MOMENTUM, FUNDAMENTAL and POSITION  trade set-ups, “Tweets” and “Trade ideas” that are posted in my blogs or on Twitter are trades and set-ups that interest me. They are provided for training and informational purposes only and should not be interpreted as an offer, solicitation or recommendation of any specific security or investment strategy. Past performance is not indicative of future results. Trading Forex carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to trade any such leveraged products you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with trading on margin, and seek advice from an independent financial adviser if you have any doubts.\r\n\r\n</div>','The PREMIUM SERVICE PERFORMANCE','','inherit','closed','closed','','3012-revision-v1','','','2018-01-31 18:43:55','2018-01-31 23:43:55','',3012,'https://weeklyfxdrivethru.com/3012-revision-v1/',0,'revision','',0),(11060,1,'2018-02-28 16:09:03','2018-02-28 21:09:03','','PSPERF FEB2018','','inherit','open','closed','','psperf-feb2018','','','2018-02-28 16:09:37','2018-02-28 21:09:37','',5000,'https://weeklyfxdrivethru.com/wp-content/uploads/2018/02/PSPERF-FEB2018.png',0,'attachment','image/png',0),(8983,1,'2017-01-21 13:23:16','2017-01-21 18:23:16','','DEMIO WEB FOR NOTICEBOARD','','inherit','open','closed','','demio-web-for-noticeboard','','','2017-01-21 13:24:13','2017-01-21 18:24:13','',8921,'http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/DEMIO-WEB-FOR-NOTICEBOARD.png',0,'attachment','image/png',0),(9905,1,'2017-08-31 09:15:23','2017-08-31 14:15:23','<h2>THE PREMIUM SERVICE from THE WEEKLY FX DRIVE-THRU</h2>\nFLASH, RADAR, FUNDAMENTAL and POSITION trade set-ups, “Tweets” and “Trade ideas” that are posted in my blogs or on Twitter are trades and set-ups that interest me. They are provided for training and informational purposes only and should not be interpreted as an offer, solicitation or recommendation of any specific security or investment strategy. Past performance is not indicative of future results. Trading Forex carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to trade any such leveraged products you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with trading on margin, and seek advice from an independent financial adviser if you have any doubts.\n\nIn an effort to prevent against fraud and account sharing our system restricts access to 3 IP addresses per account. Example: Home, Office and Mobile.\n\nPlease make sure with your internet service provider that you have a static IP address before signing up for the Premium Service. If you do NOT have a static IP address, please contact me so that I can explain the way around this to avoid frustration at:- sco@thepremiumservice.com\n\nPlease also note THE PREMIUM SERVICE has NO REFUND POLICY.\n\nAll subscription charges are non-refundable regardless of the beginning of a Subscriber\'s business cycle. The Subscriber is entitled to use his/her own subscription to THE PREMIUM SERVICE until the end of the billing cycle following his/her cancellation.\n\nScott Pickering\nHalifax (Nova Scotia), Canada\n<a href=\"mailto:subscriptions@thepremiumservice.com\">scott@thepremiumservice.com\n</a>','Terms and Conditions','','inherit','closed','closed','','7769-autosave-v1','','','2017-08-31 09:15:23','2017-08-31 14:15:23','',7769,'https://weeklyfxdrivethru.com/7769-autosave-v1/',0,'revision','',0),(9906,1,'2017-08-31 09:15:41','2017-08-31 14:15:41','<h2>THE PREMIUM SERVICE from THE WEEKLY FX DRIVE-THRU</h2>\r\nFLASH, RADAR, FUNDAMENTAL and POSITION trade set-ups, “Tweets” and “Trade ideas” that are posted in my blogs or on Twitter are trades and set-ups that interest me. They are provided for training and informational purposes only and should not be interpreted as an offer, solicitation or recommendation of any specific security or investment strategy. Past performance is not indicative of future results. Trading Forex carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to trade any such leveraged products you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with trading on margin, and seek advice from an independent financial adviser if you have any doubts.\r\n\r\nIn an effort to prevent against fraud and account sharing our system restricts access to 3 IP addresses per account. Example: Home, Office and Mobile.\r\n\r\nPlease make sure with your internet service provider that you have a static IP address before signing up for the Premium Service. If you do NOT have a static IP address, please contact me so that I can explain the way around this to avoid frustration at:- scott@thepremiumservice.com\r\n\r\nPlease also note THE PREMIUM SERVICE has NO REFUND POLICY.\r\n\r\nAll subscription charges are non-refundable regardless of the beginning of a Subscriber\'s business cycle. The Subscriber is entitled to use his/her own subscription to THE PREMIUM SERVICE until the end of the billing cycle following his/her cancellation.\r\n\r\nScott Pickering\r\nHalifax (Nova Scotia), Canada\r\n<a href=\"mailto:subscriptions@thepremiumservice.com\">scott@thepremiumservice.com\r\n</a>','Terms and Conditions','','inherit','closed','closed','','7769-revision-v1','','','2017-08-31 09:15:41','2017-08-31 14:15:41','',7769,'https://weeklyfxdrivethru.com/7769-revision-v1/',0,'revision','',0),(9907,1,'2017-08-31 09:35:48','2017-08-31 14:35:48','','SUBSCRIPTION CHANGES FALL2017','','inherit','open','closed','','subscription-changes-fall2017','','','2017-08-31 11:07:54','2017-08-31 16:07:54','',8921,'https://weeklyfxdrivethru.com/wp-content/uploads/2017/08/SUBSCRIPTION-CHANGES-FALL2017.png',0,'attachment','image/png',0),(9908,1,'2017-08-31 09:35:52','2017-08-31 14:35:52','','FALL2017 PROMOTION','','inherit','open','closed','','fall2017-promotion','','','2017-08-31 11:03:21','2017-08-31 16:03:21','',4984,'https://weeklyfxdrivethru.com/wp-content/uploads/2017/08/FALL2017-PROMOTION.png',0,'attachment','image/png',0),(9909,1,'2017-08-31 09:35:56','2017-08-31 14:35:56','','RISK POSITION SIZING 01092017','','inherit','open','closed','','risk-position-sizing-01092017','','','2017-08-31 11:08:05','2017-08-31 16:08:05','',8921,'https://weeklyfxdrivethru.com/wp-content/uploads/2017/08/RISK-POSITION-SIZING-01092017.png',0,'attachment','image/png',0),(10507,1,'2017-12-08 17:30:58','2017-12-08 22:30:58','','TWITTER NOTE 10122017','','inherit','open','closed','','twitter-note-10122017','','','2017-12-09 08:14:59','2017-12-09 13:14:59','',10526,'https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/TWITTER-NOTE-10122017.png',0,'attachment','image/png',0),(8990,1,'2017-01-21 14:55:00','2017-01-21 19:55:00','&nbsp;\r\n<ol>\r\n 	<li><strong> INTRODUCTION:</strong></li>\r\n</ol>\r\nWelcome.\r\n\r\nAlmost through the first trading month of the year and I feel progress so far is “one step forwards… two steps back”. As things stand right now, I think that the month will be marginally up or marginally down measured by both pips and cash. In no way is it anything like a blowout month… I know that there is still a week left, let’s see if have a hallelujah moment or two.\r\n\r\nSo, last week.\r\n\r\nWe had a Theresa May moment, a Draghi Press Conference and the fashion show in Washington aka THE DONALD comes to town for his signing in ceremony.\r\n\r\nDraghi was a bore; and, frankly he had to present that way. Still lots to do, still dovish, need governmental support, the ECB cannot do it alone, headwinds getting stronger, fragile recovery, signs are good but much more to be done. We did NOT discuss tapering…. yeah right!! It was enough for the markets, and the single currency weakened a little across the board a perfect delivery by Draghi and the ECB.\r\n\r\nTheresa May, came out all guns blazing. We are leaving the EUROPEAN UNION but we are not leaving EUROPE. Not quite so sure the Brussels bureaucrats would view it quite the same. I have no doubt they were sat back with a good bottle red digesting all of May’s comments and poking fun.\r\n\r\nTheresa May placed a very positive spin on the BREXIT. “Play ball and all will be good for both sides”, however, she cherry picked all the goodies that she knows the EU will never agree to this because it would cause a CONTAGION. Despite all the previous commentary she tried once again to pre-negotiate.\r\n\r\nLet’s get this 100% clear and unambiguous; until article 50 is triggered, the UK is in the EU. You cannot negotiate an exit until you are in the exit process. This is basic stuff.\r\n\r\nI tweeted a bit about this last week. Hard BREXIT soft BREXIT? Come on its an exit and it will be difficult as both sides have lines in the sand that they simply cannot cross. The cable rallied on a cherry-picking speech. It was a great speech, very well written and very well delivered but the quality of the content in my opinion was a little “Mickey Mouse” and more of a dream than a belief that it could be possible. The markets as usual bought it, but the short squeeze rally was in my opinion overdone… “bigly”!\r\n\r\nFinally, the DONALD’S inauguration; I am covering THE DONALD in section 5 “SCOTT’S SOAPBOX”, so I write it all there.\r\n\r\nMoving on… “LIVE Broadcasts”\r\n\r\nI did not broadcast PERISCOPE #2 last Monday. The vehicle (PERISCOPE) is just not what I needed to meet the objectives that I have moving forward.\r\n\r\nThis coming Monday 23<sup>rd</sup> January at 5:30PM EST, I am launching the “WEEKLY FX DRIVE THRU – LIVE” via a “live in the market” webinar with my partners “demio”.\r\n\r\nThis arrangement allows me to share screens, office documents and LIVE charting screens. Hopefully after a few fumbles as I gain competencies it will be a seamless affair for all parties. All I ask is for you to be patient with me.\r\n\r\nWhilst this format gives me 100% what I want, there are a couple of issues, at the moment, that you as potential viewers need to be made aware of: -\r\n<ul>\r\n 	<li>You need Google Chrome as a browser to attend.</li>\r\n 	<li>You cannot view on smart phones or tablets, only Laptops and Desktops.</li>\r\n</ul>\r\nThe link is below: -\r\n\r\n<a href=\"https://my.demio.com/ref/4ZHMGqgfLACTvJXm\">https://my.demio.com/ref/4ZHMGqgfLACTvJXm</a>\r\n\r\nNot that I want to keep placing links in front of readers, but as this blog ends up in the strangest of places when it is redistributed on the web, I do have another one to add. I know via feedback that non-Forex Traders read it, not sure why, my humour is poor, my grammar weak, my swearing predictable and overall it does not get great Google feedback as they say it’s hard to read.\r\n\r\nFeck me I’m from Liverpool, we do not know big words. When I was a teenager growing up, and my Dad was a Policeman (Cop) we lived in a great area.  However, in general conversation, anything over two syllables and you were deemed a snob in danger of getting your head kicked in by a local gang! What I am saying here is I am no Fraser Crane I use small words.\r\n\r\nBack to the point…\r\n\r\nThe blog ends up in on-line newspapers and the like, and non-Forex traders read it and I have had a few communications asking me what is FX all about and how do I fit in? (After Christmas just gone, I don’t fit in very easily at all following massive over-indulgence).\r\n\r\nThe link below, to which you need to register tells you all about the PREMIUM SERVICE and how you can be a part of it.\r\n\r\nIt is titled “How to add an additional income stream with the PREMIUM SERVICE”. It is FREE to watch and takes 40 minutes. If you do not yet trade Forex, it could be just what you want. If you currently trade Forex, it could also be just what you want.\r\n\r\nRemember, it costs nothing to listen.\r\n\r\n<a href=\"http://www.onlinemeetingnow.com/register/?id=wrklqabmy3\">http://www.onlinemeetingnow.com/register/?id=wrklqabmy3</a>\r\n\r\nFinally, in this section…\r\n\r\nIf you would like to be in the monthly draw to win a “FREE 10-WEEK SUBSCRIPTION” to the PREMIUM SERVICE, valued at CAD$1,000.00, all you have to do is subscribe to receive this FREE NEWSLETTER on my website <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a>  On my welcome page just below my cube logo is where you complete your subscription.\r\n\r\n<strong> </strong>\r\n<ol start=\"2\">\r\n 	<li><strong> THE FX MARKET PLACE – LOOKING FORWARD:</strong></li>\r\n</ol>\r\n<strong><u>NOTE:</u></strong> This year, 2017, I am not going to look backwards in this section only forwards. News items / points of interest from the prior week will be covered in the introduction.\r\n\r\n<u>ECONOMIC DATA RELEASES:</u>\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/FX-NEWS-22012017.png\"><img class=\"aligncenter size-large wp-image-8959\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/FX-NEWS-22012017-1024x966.png\" alt=\"\" width=\"1024\" height=\"966\" /></a>\r\n\r\n&nbsp;\r\n\r\n<u>MY THOUGHTS ON THE WEEK AHEAD:</u>\r\n\r\nPhew!\r\n\r\nI completely got the BOC wrong last week. The rate statement OK, but I did not foresee Stephen Poloz announcing that rate cuts were back as options moving forwards. Let’s hope I am better this week.\r\n\r\nOn the docket this week in no particular order: -\r\n\r\nCPi data from Australia and New Zealand and GDP data from the UK and US. Also, Draghi speaks on Sunday night just after the open and that awfully nice chap from the RBNZ Graeme Wheeler chats to probably a bewildered audience on Wednesday…if the audience is not bewildered at the beginning there is a better than 50-50 chance by the end!\r\n\r\nThe big one should be the Supreme court ruling over the UK BREXIT. IF the House of Commons must vote on the BREXIT to ratify the referendum vote by the people, this will have enormous constitutional issues. Never mind the democratic issues that this will throw up. It could be a tasty piece of news. It’s one thing allowing Parliament to debate the BREXIT but the people in a democracy have decided and surely this (excuse the pun) “TRUMPS” parliament.\r\n\r\nI am no constitutional expert, not by any stretch, but if the people elect parliamentarians by voting for whom they choose, the people have the vote that should decide in a referendum. Let’s see.\r\n\r\nI see this week as a week where we could be and probably will be pushed up and down on the back of the number of executive orders placed by THE DONALD in his first few days of his presidency, plus, how many tweets the US Commander-in–chief issues and if he’s started any new wars, currency, trade or military!\r\n\r\nExpect the chop fest.\r\n\r\nAs Monty Python once said “No-one expects the Spanish Inquisition” … in 2017 it will be “No-one expects THE DONALD”.\r\n\r\nGet ready for it.\r\n\r\n<u>USD MAJORS – “IMMEDIATE” SUPPORT &amp; RESISTANCE with TREND:</u>\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/T-CHART-22012017.png\"><img class=\"aligncenter size-large wp-image-8960\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/T-CHART-22012017-1024x797.png\" alt=\"\" width=\"1024\" height=\"797\" /></a>\r\n\r\nMy trade charts for the USD majors are below. My thoughts, views and commentary is written on the charts.\r\n\r\nYou will find my charts, hopefully easy to follow. I only use Fibonacci levels, trend lines, confluence points and sometimes chart patterns to identify my high probability trades. If you have any difficulty understanding the points that I am trying to make, please do not hesitate to contact me.\r\n\r\nEUR/USD:\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/EURUSD-D-22012017.png\"><img class=\"aligncenter size-large wp-image-8967\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/EURUSD-D-22012017-1024x496.png\" alt=\"\" width=\"1024\" height=\"496\" /></a>\r\n\r\n&nbsp;\r\n\r\nGBP/USD:\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/GBPUSD-D-22012017.png\"><img class=\"aligncenter size-large wp-image-8968\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/GBPUSD-D-22012017-1024x496.png\" alt=\"\" width=\"1024\" height=\"496\" /></a>\r\n\r\n&nbsp;\r\n\r\nAUD/USD:\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/AUDUSD-D-22012017.png\"><img class=\"aligncenter size-large wp-image-8966\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/AUDUSD-D-22012017-1024x496.png\" alt=\"\" width=\"1024\" height=\"496\" /></a>\r\n\r\n&nbsp;\r\n\r\nNZD/USD:\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/NZDUSD-D-22012017.png\"><img class=\"aligncenter size-large wp-image-8969\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/NZDUSD-D-22012017-1024x496.png\" alt=\"\" width=\"1024\" height=\"496\" /></a>\r\n\r\n&nbsp;\r\n\r\nUSD/CAD:\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/USDCAD-D-22012017.png\"><img class=\"aligncenter size-large wp-image-8970\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/USDCAD-D-22012017-1024x496.png\" alt=\"\" width=\"1024\" height=\"496\" /></a>\r\n\r\n&nbsp;\r\n\r\nUSD/CHF:\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/USDCHF-D-22012017.png\"><img class=\"aligncenter size-large wp-image-8971\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/USDCHF-D-22012017-1024x496.png\" alt=\"\" width=\"1024\" height=\"496\" /></a>\r\n\r\n&nbsp;\r\n\r\nUSD/JPY:\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/USDJPY-D-22012017.png\"><img class=\"aligncenter size-large wp-image-8972\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/USDJPY-D-22012017-1024x496.png\" alt=\"\" width=\"1024\" height=\"496\" /></a>\r\n\r\n<strong>\r\n</strong>\r\n<ol start=\"3\">\r\n 	<li><strong> THE PREMIUM SERVICE:</strong></li>\r\n</ol>\r\n<u>WHAT IS THE PREMIUM SERVICE:</u>\r\n\r\nThe PREMIUM SERVICE is a subscriber, fee based trade set-up option for Forex traders regardless of experience or background. I provide traders suggested trades, and some market commentary related to open trades or factors within the overall market that have my interest.\r\n\r\nFull details of the PREMIUM SERVICE and costs to subscribe plus the various trade styles and how suggested trade set-ups are communicated can be found on my website landing page at <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a> by selecting THE PREMIUM SERVICE tab.\r\n\r\nAdditional information can be found by clicking TESTIMONIALS, PART-TIME TRADERS and FX PROMOTIONS tabs. To subscribe to THE PREMIUM SERVICE, you will require a valid credit card.\r\n\r\nIf you would like to watch/listen to a 40-minute PREMIUM SERVICE webinar to learn more about what I can do to help you with your trading. Then click the link below and register. It is FREE… it costs nothing to listen.\r\n\r\n<a href=\"http://www.onlinemeetingnow.com/register/?id=wrklqabmy3\">http://www.onlinemeetingnow.com/register/?id=wrklqabmy3</a>\r\n\r\n&nbsp;\r\n<ol start=\"4\">\r\n 	<li><strong> PREMIUM SERVICE – SUBSCRIBER CONTENT AREA:</strong></li>\r\n</ol>\r\n<u>TRADING REVIEW:</u>\r\n\r\nWhat a stop start, stop start, start to 2017 trading.\r\n\r\nI am up in pips but a lot down on cash with a week to go to close month one this year. I have been trading for 10 years now, seen this before. If truth be told, I think I jumped back into trading a few days earlier than usual this year and I was hit initially without a doubt by low volatility markets. Not making any excuses I should have known better.\r\n\r\nAnyway, chin up, still a week and a couple of days left of trading before the month end, anything can happen.\r\n\r\nGenerally speaking the markets are I think in re-balance mode following what can only be described as a rather over-cooked rally based on THE DONALD’S plans regarding infrastructure, jobs, trade and investment domestically. Eventually, the chickens come home to roost and that is what we have right now. The markets are trying to consolidate the recent move in a market where the President is happy to contradict anyone and everyone via Twitter. The rules of engagement have changed and this will take time to adjust to.\r\n\r\n<u>MOVING FORWARD:</u>\r\n\r\nThe FED is on a policy of divergence with other central banks, therefore fundamentally, I still feel comfortable with the trades in play.\r\n\r\nMy discomfort is in selecting additional trades at the moment. As you know I love trading the commodity currencies (AUD/USD, NZD/USD &amp; USD/CAD), in addition the EUR/GBP and GBP/CHF.\r\n\r\nFor now, I am just not reading these at all well. It is chop, chop, chop and nothing else. Correlations are off in places and until these align again, the safer trade is to stick with the POSITION trade policy in place and look to add trades with other styles once we see a true direction in play. I am thinking that after the TRUMP first few days are out of the way all will be good.\r\n\r\n<u>CORE TRADES:</u>\r\n<ol>\r\n 	<li>AUD/NZD: – Frustrating as it is I am still a believer. I will continue to add on pullbacks and lift off 50 -100 pip gains as they become available. Patience is the key.</li>\r\n 	<li>I have also added the EUR/NZD to the NZD portfolio. I have two LIVE trades plus a “BUY STOP” limit order in place. I did believe that this pair would be well in a healthy positive position by now. It looks like I will need to be patient and bide my time.</li>\r\n 	<li>NZD/USD: – I have started to build, and I will be adding again.\r\n\r\nThe RBNZ is in control, and in my opinion, this is one of the most overpriced currencies in the market at this moment in time. Central Bank divergence should play its part in having this currency revalue organically, but with most, if not all FX fundamentals, patience will be required.\r\n\r\nChina does concern me. I believe the GDT auctions will be more NZD negative this year as the China family birth control factors will kick in stronger.\r\n\r\nThe TRUMP factor on China may help my longer-term views?</li>\r\n 	<li>EUR/USD and USD/CHF: - Core positions now being established and I am looking to add more trades as the month progresses.\r\n\r\nAlways going to be looking to add, I think that for at least Q1 and Q2 the EUROZONE will remain under downside pressures. If BREXIT negotiations are difficult, which I believe they should be, the German desire for the ECB to raise rates could be seen for what it is, which is, in an election year pure and utter propaganda to win over the German savers who have been taken to the cleaners with zero savings interest rates for many years now and at all elections they are being fed a plate of empty promises.</li>\r\n 	<li>GBP/USD: - started building and have taken profits already on this position. This could be an annoying trade, as you know only too well, the cable can be a slippery little fecker at the best of times. It has the ability to take out all longs and all shorts out of the market in a single session.\r\n\r\nOne will require patience with this pair as it will flip flop all over the place.</li>\r\n</ol>\r\n<u>THE WEEKLY FX DRIVE THRU – LIVE:</u>\r\n\r\nAs mentioned earlier in the blog, I have partnered up with Demio to launch weekly LIVE webinars.\r\n\r\nThe first one is on Monday January 23<sup>rd</sup> 2017 at 5:30PM EST.\r\n\r\nYou can register on the link below; they will be recorded and distributed after the event. To access the webinar or see the recording you will need Google Chrome as your browser, and, for a short initial period the webinars will NOT play on smart phones or tablets.\r\n\r\n<a href=\"https://my.demio.com/ref/4ZHMGqgfLACTvJXm\">https://my.demio.com/ref/4ZHMGqgfLACTvJXm</a>\r\n\r\n<strong><a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/DEMIO-WEB-FOR-NOTICEBOARD.png\"><img class=\"aligncenter size-large wp-image-8983\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/DEMIO-WEB-FOR-NOTICEBOARD-1024x960.png\" alt=\"\" width=\"1024\" height=\"960\" /></a></strong>\r\n\r\n<u>PREMIUM SERVICE - TRADES REVIEW<strong>:</strong></u>\r\n\r\nCURRENT PREMIUM SERVICE - LIVE TRADES:\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/LIVE-TRADES-22012017.png\"><img class=\"aligncenter size-large wp-image-8974\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/LIVE-TRADES-22012017-756x1024.png\" alt=\"\" width=\"756\" height=\"1024\" /></a>\r\n\r\n\r\nCURRENT PREMIUM SERVICE – LIMIT ORDER TRADES:\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/LIMIT-ORDERS-22012017.png\"><img class=\"aligncenter size-large wp-image-8973\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/LIMIT-ORDERS-22012017-765x1024.png\" alt=\"\" width=\"765\" height=\"1024\" /></a>\r\n<ol start=\"5\">\r\n 	<li><strong> SCOTT’S SOAPBOX:</strong></li>\r\n</ol>\r\nIf you recall, in my final “DRIVE THRU” of 2016, I provided a list of TRADING PREDICTIONS for 2017. I basically named several geopolitical events that I feel will weigh on the markets this year. Therefore, for the first few weeks of 2017, I want to look at these events in a little more detail.\r\n\r\nAs you will be aware, so much has been said already on the subjects that I have highlighted, I can only add points and views that are my own, based upon how I see things and how I am going to view trading around these events.<strong> </strong>\r\n<p style=\"text-align: center;\"><strong>TRUMP, PROZAC, OXYCONTIN and THE USD</strong></p>\r\nThere always seems to be something similar to a theatrical overtone to anything that is TRUMP associated in my opinion. I cannot put my finger on exactly what, but it’s almost as if one is expecting some TV style stunt to happen in the middle of a speech or something like that.\r\n\r\nI am not sure whether it’s an overriding feeling of dis-belief that he actually pulled it off, beat the odds, beat a well-oiled machine, claimed victory with his whole party against him, in fact, he alone, with just the help of his family and his running partner, took on the might of the Presidency and the Billions of dollars behind a Clinton campaign and won.\r\n\r\nThe Republican party that hid under rocks during the campaign are now only too happy to crawl out from under that rock and feast on the spoils of victory to which their added value was zero, in fact in some cases minus.\r\n\r\nThis is one main reason why I have a low opinion of politicians. They are only fair weather friends. I realize that there are some good ones, but in most countries, you can count them on one hand. I now have first-hand experience of 5 countries.\r\n\r\nMoving on…\r\n\r\nThanks be to God, that neither Piers Morgan or Omarosa parachuted in on the parade on Pennsylvania Avenue, that would have really put my, “it’s about to happen”, reality TV, TV stunt thoughts front and centre.\r\n\r\nDefinitely moving on now….\r\n\r\nThe fashion show in DC went off without a snag just 30 minutes late…I must say that the Brits would never stand for the delay, being the masters of pomp and ceremony everything in the UK is rehearsed and timed repeatedly down to almost the tenth of a second for accuracy.\r\n\r\nHowever, one must say that despite what we may think of THE DONALD the fashion police in DC will take on a new role for at least the next four years commenting on Melania, Ivanka and wives of Don Jnr and Eric. In some ways, it could be a pleasant distraction from the twitter account!\r\n\r\nThe speech in my opinion was just like one from the stump. He had to do that, I cannot for the life of me get over the debate about it.  It was 100% expected.\r\n\r\nSo; all over Washington right now, Republican and Democrats alike are in front their GP (Doctor), requesting drugs to get them through the first 100 days of the TRUMP administration.  I never give out any recommendations on stocks or even FX trades, I cannot, but what I can tell you is that we should all watch the shares of PROZAC and OXYCONTIN, I think these could be good buys, whoever manufactures them.\r\n\r\nThe whirlwind is in town and I would expect that blockages to change will be named and shamed publicly like never before to alert the people who voted them in that they do not have the future of a United States in their heart, or words to that effect.\r\n\r\nPoliticians the world over, hide behind the party line as a reason to oppose, this is how career politicians survive. If they can blame someone instead of defending their own actions, it suits them better as they need continual good approval rates to be good in order to survive. Popularity is a like an addictive drug to career politicians. Solving problems and fixing things is not in their chemistry, just not in their DNA. It is better to blame someone for something that is not working than actually try to make it work by doing something about it. That would be courageous, thinking outside the box.\r\n\r\nIf the DONALD is true to his word and I have or see no reason why he won’t stick to his beliefs and run Washington like a business, career politicians must change or get out. Sure, there will be negotiation, but if the DONALD is seen early on to have a couple of wins under his belt, should anyone block change that he sees as another win, God help them.\r\n\r\nThe changes will be radical, possibly very innovative but definitely a new chapter away from the way the dysfunctional way that DC has operated in the past. It should be interesting. Politicians with lots of severe headaches, finding tranquilly and calm hiding under their desks frightened to speak to the gathering press to answer accusations. Hence the OXYCONTIN and PROZAC references.\r\n\r\nFrom my selfish perspective as a Forex trader where does all that leave me?\r\n\r\nThe simple answer is… I wish I knew! Right now, I am as uncertain about what happens and how it all unfolds as much as players who are in the know.\r\n\r\nWithout doubt the USD will be smacked up and smashed down. What do I know for certain at the moment?\r\n<ul>\r\n 	<li>The US is almost at full employment.</li>\r\n 	<li>The economy is looking to be on the up.</li>\r\n 	<li>The DONALD wants to make huge capital expenditure projects.</li>\r\n 	<li>The is good for inflation.</li>\r\n 	<li>This will be good for morale and consumer confidence.</li>\r\n 	<li>This will feed into retail sales.</li>\r\n 	<li>This will feed into housing, new home sales and re-sales.</li>\r\n 	<li>This will feed in home improvements.</li>\r\n 	<li>This will feed into earnings as demands for the right skills increase.</li>\r\n 	<li>Better deposit rates for savers!</li>\r\n</ul>\r\nThe above list and there’s more will be great for the US.\r\n\r\nThere are some negatives though.\r\n<ul>\r\n 	<li>Inflation on goods and services.</li>\r\n 	<li>Gas price increases.</li>\r\n 	<li>Higher Interest Rates.</li>\r\n 	<li>Increased Mortgage Costs.</li>\r\n</ul>\r\nThen of course we have the FED. Uber DOVE, Janet Yellen, who I think operates behind the curve is on a path of Monetary Policy Divergence away from all the other major central banks in the G7. With the positives and negatives that I’ve listed above and there are probably pages more of them, she runs the risk of being left behind.\r\n\r\nAs stated soooooo many times last year, it is so easy to be a DOVE. Keep things as they are, move after the event. Being a HAWK requires conviction, belief and a commanding authority. Does Janet Yellen have this skill set? Can she prepare the Financial Markets in advance for changes in the economy? I am NOT convinced. I think it’s so easy in a low rate environment but in an expansionary environment it requires a whole new skill set, the main one being to stand up to Wall Street.\r\n\r\nAs a Forex trader, the movement in the USD over the next four years is paramount to everything we do. It is at the heart of every trade we if we are trading the AUD/NZD. The way the USD moves and its correlation to commodities that can have a direct bearing on either the AUD or the NZD currency must be borne in mind. In this example the relationship between COPPER and GOLD and the USD directly affects the AUD.\r\n\r\nIf you remember, the plans that the DONALD had before coming to power have not altered, the alleged market experts, (I would say 100% of them) said that if the DONALD was elected the USD would dump and the USD/JPY would hit 95.00-98.00. What happened was the USD rallied like crazy to 103.50 from a low of 96.00 and the USD/JPY from 101.00 hit 118.00 both in less than a month after he was elected. Given the experts were about a much use a chocolate teapot, I think we have a difficult answer to the basic question on the USD.\r\n\r\nSo, keeping things simple here’s my take.\r\n\r\nIf THE DONALD starts getting his agenda passed and gets the funding on infrastructure, personally I think we are off. This alone creates jobs, spending, raw materials the whole nine yards.\r\n\r\nThe affordable care act (Obamacare), does not concern me, personally, I thought Obama was onto something but the drug companies have way too much power and influence in US. Health care will NEVER get fixed in the US, there is too much money at stake, it will be “a fudge” in my opinion. This may be a vote winner but it’s not a continual USD market mover like infrastructure.\r\n\r\nInfrastructure spending is the key to re-start the merry-go-round.\r\n\r\nWhere can the USD (DXY) go?\r\n\r\nThe overriding thought that is stuck in my head when I think about TRUMPECONOMICS, is extremes. Everything associated with THE DONALD is glitter and bright lights. He is Marmite (you either love him or hate him). His policies are in the same mold.\r\n\r\nIn my opinion the range here is dead simple. With success on infrastructure spending and an 8-year program I see 120.00 again on the DXY. Failure and the dysfunctional DC continues I see the USD toying with 80.00 maybe back to financial crisis lows of around 70.00.\r\n\r\nEither move will have spectacular results, vis-à-vis the Forex market. Recession and QE again, possibly negative interest rates on failure to succeed and buoyancy like never seen before on the other side of the equation.\r\n\r\nUSD/JPY at 150.00 or 75.00.\r\n\r\nEUR/USD at 90.00 or 1.4000.\r\n\r\nThese sound crazy numbers. I am 100% sober writing this blog.\r\n\r\nWe are living in extreme times. The new President is sworn in on a mandate of shake ‘em up. Everything he touches will be seen as RISK by the traditional hierarchy. He will face battles to move on policy. He will use whatever he can to force his agenda, twitter and the like, it will be messy, there will be blood and for these reasons I see extremes on the spectrum of success.\r\n\r\nSure, when first looking at my currency ranges they are not only massive but extreme but it’s horses for courses, in my opinion these are realistic ranges to consider in the event of success or failure.\r\n\r\nIn my opinion, to say that THE DONALD has stepped up and placed a noose around his own neck is an understatement. This is why, I firmly believe he will name and shame those who block jobs and US prosperity. He has a big reputation, much of it by self-proclamation, therefore failure is not an option.\r\n\r\n&nbsp;\r\n<ol start=\"6\">\r\n 	<li><strong> CLOSING THOUGHTS:</strong></li>\r\n</ol>\r\nNothing more to add here, I have said enough except,\r\n\r\nAs usual…\r\n\r\nAlways remember longevity in Forex trading can only be achieved through trading with good RISK and MONEY MANAGEMENT, and above all set your position sizes in accordance with the size of your account and allow for some flexibility.\r\n\r\nTake care, have a great trading week.\r\n\r\nScott Pickering\r\nThe Pip Accumulator\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/disclaimer/\">http://weeklyfxdrivethru.com/disclaimer/</a>\r\n\r\nBLOG VERSION: #124 PREMIUM SERVICE\r\nDATE: 22nd January 2017.<strong>\r\n\r\n</strong>','TRUMP, PROZAC, OXYCONTIN and THE USD','','publish','open','closed','','trump-prozac-oxycontin-usd','','','2017-01-21 14:55:00','2017-01-21 19:55:00','',0,'http://weeklyfxdrivethru.com/?post_type=member_posts&#038;p=8990',0,'member_posts','',0),(8991,1,'2017-01-21 14:55:00','2017-01-21 19:55:00','&nbsp;\r\n<ol>\r\n 	<li><strong> INTRODUCTION:</strong></li>\r\n</ol>\r\nWelcome.\r\n\r\nAlmost through the first trading month of the year and I feel progress so far is “one step forwards… two steps back”. As things stand right now, I think that the month will be marginally up or marginally down measured by both pips and cash. In no way is it anything like a blowout month… I know that there is still a week left, let’s see if have a hallelujah moment or two.\r\n\r\nSo, last week.\r\n\r\nWe had a Theresa May moment, a Draghi Press Conference and the fashion show in Washington aka THE DONALD comes to town for his signing in ceremony.\r\n\r\nDraghi was a bore; and, frankly he had to present that way. Still lots to do, still dovish, need governmental support, the ECB cannot do it alone, headwinds getting stronger, fragile recovery, signs are good but much more to be done. We did NOT discuss tapering…. yeah right!! It was enough for the markets, and the single currency weakened a little across the board a perfect delivery by Draghi and the ECB.\r\n\r\nTheresa May, came out all guns blazing. We are leaving the EUROPEAN UNION but we are not leaving EUROPE. Not quite so sure the Brussels bureaucrats would view it quite the same. I have no doubt they were sat back with a good bottle red digesting all of May’s comments and poking fun.\r\n\r\nTheresa May placed a very positive spin on the BREXIT. “Play ball and all will be good for both sides”, however, she cherry picked all the goodies that she knows the EU will never agree to this because it would cause a CONTAGION. Despite all the previous commentary she tried once again to pre-negotiate.\r\n\r\nLet’s get this 100% clear and unambiguous; until article 50 is triggered, the UK is in the EU. You cannot negotiate an exit until you are in the exit process. This is basic stuff.\r\n\r\nI tweeted a bit about this last week. Hard BREXIT soft BREXIT? Come on its an exit and it will be difficult as both sides have lines in the sand that they simply cannot cross. The cable rallied on a cherry-picking speech. It was a great speech, very well written and very well delivered but the quality of the content in my opinion was a little “Mickey Mouse” and more of a dream than a belief that it could be possible. The markets as usual bought it, but the short squeeze rally was in my opinion overdone… “bigly”!\r\n\r\nFinally, the DONALD’S inauguration; I am covering THE DONALD in section 5 “SCOTT’S SOAPBOX”, so I write it all there.\r\n\r\nMoving on… “LIVE Broadcasts”\r\n\r\nI did not broadcast PERISCOPE #2 last Monday. The vehicle (PERISCOPE) is just not what I needed to meet the objectives that I have moving forward.\r\n\r\nThis coming Monday 23<sup>rd</sup> January at 5:30PM EST, I am launching the “WEEKLY FX DRIVE THRU – LIVE” via a “live in the market” webinar with my partners “demio”.\r\n\r\nThis arrangement allows me to share screens, office documents and LIVE charting screens. Hopefully after a few fumbles as I gain competencies it will be a seamless affair for all parties. All I ask is for you to be patient with me.\r\n\r\nWhilst this format gives me 100% what I want, there are a couple of issues, at the moment, that you as potential viewers need to be made aware of: -\r\n<ul>\r\n 	<li>You need Google Chrome as a browser to attend.</li>\r\n 	<li>You cannot view on smart phones or tablets, only Laptops and Desktops.</li>\r\n</ul>\r\nThe link is below: -\r\n\r\n<a href=\"https://my.demio.com/ref/4ZHMGqgfLACTvJXm\">https://my.demio.com/ref/4ZHMGqgfLACTvJXm</a>\r\n\r\nNot that I want to keep placing links in front of readers, but as this blog ends up in the strangest of places when it is redistributed on the web, I do have another one to add. I know via feedback that non-Forex Traders read it, not sure why, my humour is poor, my grammar weak, my swearing predictable and overall it does not get great Google feedback as they say it’s hard to read.\r\n\r\nFeck me I’m from Liverpool, we do not know big words. When I was a teenager growing up, and my Dad was a Policeman (Cop) we lived in a great area.  However, in general conversation, anything over two syllables and you were deemed a snob in danger of getting your head kicked in by a local gang! What I am saying here is I am no Fraser Crane I use small words.\r\n\r\nBack to the point…\r\n\r\nThe blog ends up in on-line newspapers and the like, and non-Forex traders read it and I have had a few communications asking me what is FX all about and how do I fit in? (After Christmas just gone, I don’t fit in very easily at all following massive over-indulgence).\r\n\r\nThe link below, to which you need to register tells you all about the PREMIUM SERVICE and how you can be a part of it.\r\n\r\nIt is titled “How to add an additional income stream with the PREMIUM SERVICE”. It is FREE to watch and takes 40 minutes. If you do not yet trade Forex, it could be just what you want. If you currently trade Forex, it could also be just what you want.\r\n\r\nRemember, it costs nothing to listen.\r\n\r\n<a href=\"http://www.onlinemeetingnow.com/register/?id=wrklqabmy3\">http://www.onlinemeetingnow.com/register/?id=wrklqabmy3</a>\r\n\r\nFinally, in this section…\r\n\r\nIf you would like to be in the monthly draw to win a “FREE 10-WEEK SUBSCRIPTION” to the PREMIUM SERVICE, valued at CAD$1,000.00, all you have to do is subscribe to receive this FREE NEWSLETTER on my website <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a>  On my welcome page just below my cube logo is where you complete your subscription.\r\n\r\n<strong> </strong>\r\n<ol start=\"2\">\r\n 	<li><strong> THE FX MARKET PLACE – LOOKING FORWARD:</strong></li>\r\n</ol>\r\n<strong><u>NOTE:</u></strong> This year, 2017, I am not going to look backwards in this section only forwards. News items / points of interest from the prior week will be covered in the introduction.\r\n\r\n<u>ECONOMIC DATA RELEASES:</u>\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/FX-NEWS-22012017.png\"><img class=\"aligncenter size-large wp-image-8959\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/FX-NEWS-22012017-1024x966.png\" alt=\"\" width=\"1024\" height=\"966\" /></a>\r\n\r\n&nbsp;\r\n\r\n<u>MY THOUGHTS ON THE WEEK AHEAD:</u>\r\n\r\nPhew!\r\n\r\nI completely got the BOC wrong last week. The rate statement OK, but I did not foresee Stephen Poloz announcing that rate cuts were back as options moving forwards. Let’s hope I am better this week.\r\n\r\nOn the docket this week in no particular order: -\r\n\r\nCPi data from Australia and New Zealand and GDP data from the UK and US. Also, Draghi speaks on Sunday night just after the open and that awfully nice chap from the RBNZ Graeme Wheeler chats to probably a bewildered audience on Wednesday…if the audience is not bewildered at the beginning there is a better than 50-50 chance by the end!\r\n\r\nThe big one should be the Supreme court ruling over the UK BREXIT. IF the House of Commons must vote on the BREXIT to ratify the referendum vote by the people, this will have enormous constitutional issues. Never mind the democratic issues that this will throw up. It could be a tasty piece of news. It’s one thing allowing Parliament to debate the BREXIT but the people in a democracy have decided and surely this (excuse the pun) “TRUMPS” parliament.\r\n\r\nI am no constitutional expert, not by any stretch, but if the people elect parliamentarians by voting for whom they choose, the people have the vote that should decide in a referendum. Let’s see.\r\n\r\nI see this week as a week where we could be and probably will be pushed up and down on the back of the number of executive orders placed by THE DONALD in his first few days of his presidency, plus, how many tweets the US Commander-in–chief issues and if he’s started any new wars, currency, trade or military!\r\n\r\nExpect the chop fest.\r\n\r\nAs Monty Python once said “No-one expects the Spanish Inquisition” … in 2017 it will be “No-one expects THE DONALD”.\r\n\r\nGet ready for it.\r\n\r\n<u>USD MAJORS – “IMMEDIATE” SUPPORT &amp; RESISTANCE with TREND:</u>\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/T-CHART-22012017.png\"><img class=\"aligncenter size-large wp-image-8960\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/T-CHART-22012017-1024x797.png\" alt=\"\" width=\"1024\" height=\"797\" /></a>\r\n\r\nMy trade charts for the USD majors are below. My thoughts, views and commentary is written on the charts.\r\n\r\nYou will find my charts, hopefully easy to follow. I only use Fibonacci levels, trend lines, confluence points and sometimes chart patterns to identify my high probability trades. If you have any difficulty understanding the points that I am trying to make, please do not hesitate to contact me.\r\n\r\nEUR/USD:\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/EURUSD-D-22012017.png\"><img class=\"aligncenter size-large wp-image-8967\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/EURUSD-D-22012017-1024x496.png\" alt=\"\" width=\"1024\" height=\"496\" /></a>\r\n\r\n&nbsp;\r\n\r\nGBP/USD:\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/GBPUSD-D-22012017.png\"><img class=\"aligncenter size-large wp-image-8968\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/GBPUSD-D-22012017-1024x496.png\" alt=\"\" width=\"1024\" height=\"496\" /></a>\r\n\r\n&nbsp;\r\n\r\nAUD/USD:\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/AUDUSD-D-22012017.png\"><img class=\"aligncenter size-large wp-image-8966\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/AUDUSD-D-22012017-1024x496.png\" alt=\"\" width=\"1024\" height=\"496\" /></a>\r\n\r\n&nbsp;\r\n\r\nNZD/USD:\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/NZDUSD-D-22012017.png\"><img class=\"aligncenter size-large wp-image-8969\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/NZDUSD-D-22012017-1024x496.png\" alt=\"\" width=\"1024\" height=\"496\" /></a>\r\n\r\n&nbsp;\r\n\r\nUSD/CAD:\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/USDCAD-D-22012017.png\"><img class=\"aligncenter size-large wp-image-8970\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/USDCAD-D-22012017-1024x496.png\" alt=\"\" width=\"1024\" height=\"496\" /></a>\r\n\r\n&nbsp;\r\n\r\nUSD/CHF:\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/USDCHF-D-22012017.png\"><img class=\"aligncenter size-large wp-image-8971\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/USDCHF-D-22012017-1024x496.png\" alt=\"\" width=\"1024\" height=\"496\" /></a>\r\n\r\n&nbsp;\r\n\r\nUSD/JPY:\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/USDJPY-D-22012017.png\"><img class=\"aligncenter size-large wp-image-8972\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/USDJPY-D-22012017-1024x496.png\" alt=\"\" width=\"1024\" height=\"496\" /></a>\r\n\r\n<strong>\r\n</strong>\r\n<ol start=\"3\">\r\n 	<li><strong> THE PREMIUM SERVICE:</strong></li>\r\n</ol>\r\n<u>WHAT IS THE PREMIUM SERVICE:</u>\r\n\r\nThe PREMIUM SERVICE is a subscriber, fee based trade set-up option for Forex traders regardless of experience or background. I provide traders suggested trades, and some market commentary related to open trades or factors within the overall market that have my interest.\r\n\r\nFull details of the PREMIUM SERVICE and costs to subscribe plus the various trade styles and how suggested trade set-ups are communicated can be found on my website landing page at <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a> by selecting THE PREMIUM SERVICE tab.\r\n\r\nAdditional information can be found by clicking TESTIMONIALS, PART-TIME TRADERS and FX PROMOTIONS tabs. To subscribe to THE PREMIUM SERVICE, you will require a valid credit card.\r\n\r\nIf you would like to watch/listen to a 40-minute PREMIUM SERVICE webinar to learn more about what I can do to help you with your trading. Then click the link below and register. It is FREE… it costs nothing to listen.\r\n\r\n<a href=\"http://www.onlinemeetingnow.com/register/?id=wrklqabmy3\">http://www.onlinemeetingnow.com/register/?id=wrklqabmy3</a>\r\n\r\n&nbsp;\r\n<ol start=\"4\">\r\n 	<li><strong> PREMIUM SERVICE – SUBSCRIBER CONTENT AREA:</strong></li>\r\n</ol>\r\n<u>TRADING REVIEW:</u>\r\n\r\nWhat a stop start, stop start, start to 2017 trading.\r\n\r\nI am up in pips but a lot down on cash with a week to go to close month one this year. I have been trading for 10 years now, seen this before. If truth be told, I think I jumped back into trading a few days earlier than usual this year and I was hit initially without a doubt by low volatility markets. Not making any excuses I should have known better.\r\n\r\nAnyway, chin up, still a week and a couple of days left of trading before the month end, anything can happen.\r\n\r\nGenerally speaking the markets are I think in re-balance mode following what can only be described as a rather over-cooked rally based on THE DONALD’S plans regarding infrastructure, jobs, trade and investment domestically. Eventually, the chickens come home to roost and that is what we have right now. The markets are trying to consolidate the recent move in a market where the President is happy to contradict anyone and everyone via Twitter. The rules of engagement have changed and this will take time to adjust to.\r\n\r\n<u>MOVING FORWARD:</u>\r\n\r\nThe FED is on a policy of divergence with other central banks, therefore fundamentally, I still feel comfortable with the trades in play.\r\n\r\nMy discomfort is in selecting additional trades at the moment. As you know I love trading the commodity currencies (AUD/USD, NZD/USD &amp; USD/CAD), in addition the EUR/GBP and GBP/CHF.\r\n\r\nFor now, I am just not reading these at all well. It is chop, chop, chop and nothing else. Correlations are off in places and until these align again, the safer trade is to stick with the POSITION trade policy in place and look to add trades with other styles once we see a true direction in play. I am thinking that after the TRUMP first few days are out of the way all will be good.\r\n\r\n<u>CORE TRADES:</u>\r\n<ol>\r\n 	<li>AUD/NZD: – Frustrating as it is I am still a believer. I will continue to add on pullbacks and lift off 50 -100 pip gains as they become available. Patience is the key.</li>\r\n 	<li>I have also added the EUR/NZD to the NZD portfolio. I have two LIVE trades plus a “BUY STOP” limit order in place. I did believe that this pair would be well in a healthy positive position by now. It looks like I will need to be patient and bide my time.</li>\r\n 	<li>NZD/USD: – I have started to build, and I will be adding again.\r\n\r\nThe RBNZ is in control, and in my opinion, this is one of the most overpriced currencies in the market at this moment in time. Central Bank divergence should play its part in having this currency revalue organically, but with most, if not all FX fundamentals, patience will be required.\r\n\r\nChina does concern me. I believe the GDT auctions will be more NZD negative this year as the China family birth control factors will kick in stronger.\r\n\r\nThe TRUMP factor on China may help my longer-term views?</li>\r\n 	<li>EUR/USD and USD/CHF: - Core positions now being established and I am looking to add more trades as the month progresses.\r\n\r\nAlways going to be looking to add, I think that for at least Q1 and Q2 the EUROZONE will remain under downside pressures. If BREXIT negotiations are difficult, which I believe they should be, the German desire for the ECB to raise rates could be seen for what it is, which is, in an election year pure and utter propaganda to win over the German savers who have been taken to the cleaners with zero savings interest rates for many years now and at all elections they are being fed a plate of empty promises.</li>\r\n 	<li>GBP/USD: - started building and have taken profits already on this position. This could be an annoying trade, as you know only too well, the cable can be a slippery little fecker at the best of times. It has the ability to take out all longs and all shorts out of the market in a single session.\r\n\r\nOne will require patience with this pair as it will flip flop all over the place.</li>\r\n</ol>\r\n<u>THE WEEKLY FX DRIVE THRU – LIVE:</u>\r\n\r\nAs mentioned earlier in the blog, I have partnered up with Demio to launch weekly LIVE webinars.\r\n\r\nThe first one is on Monday January 23<sup>rd</sup> 2017 at 5:30PM EST.\r\n\r\nYou can register on the link below; they will be recorded and distributed after the event. To access the webinar or see the recording you will need Google Chrome as your browser, and, for a short initial period the webinars will NOT play on smart phones or tablets.\r\n\r\n<a href=\"https://my.demio.com/ref/4ZHMGqgfLACTvJXm\">https://my.demio.com/ref/4ZHMGqgfLACTvJXm</a>\r\n\r\n<strong><a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/DEMIO-WEB-FOR-NOTICEBOARD.png\"><img class=\"aligncenter size-large wp-image-8983\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/DEMIO-WEB-FOR-NOTICEBOARD-1024x960.png\" alt=\"\" width=\"1024\" height=\"960\" /></a></strong>\r\n\r\n<u>PREMIUM SERVICE - TRADES REVIEW<strong>:</strong></u>\r\n\r\nCURRENT PREMIUM SERVICE - LIVE TRADES:\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/LIVE-TRADES-22012017.png\"><img class=\"aligncenter size-large wp-image-8974\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/LIVE-TRADES-22012017-756x1024.png\" alt=\"\" width=\"756\" height=\"1024\" /></a>\r\n\r\n\r\nCURRENT PREMIUM SERVICE – LIMIT ORDER TRADES:\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/LIMIT-ORDERS-22012017.png\"><img class=\"aligncenter size-large wp-image-8973\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/LIMIT-ORDERS-22012017-765x1024.png\" alt=\"\" width=\"765\" height=\"1024\" /></a>\r\n<ol start=\"5\">\r\n 	<li><strong> SCOTT’S SOAPBOX:</strong></li>\r\n</ol>\r\nIf you recall, in my final “DRIVE THRU” of 2016, I provided a list of TRADING PREDICTIONS for 2017. I basically named several geopolitical events that I feel will weigh on the markets this year. Therefore, for the first few weeks of 2017, I want to look at these events in a little more detail.\r\n\r\nAs you will be aware, so much has been said already on the subjects that I have highlighted, I can only add points and views that are my own, based upon how I see things and how I am going to view trading around these events.<strong> </strong>\r\n<p style=\"text-align: center;\"><strong>TRUMP, PROZAC, OXYCONTIN and THE USD</strong></p>\r\nThere always seems to be something similar to a theatrical overtone to anything that is TRUMP associated in my opinion. I cannot put my finger on exactly what, but it’s almost as if one is expecting some TV style stunt to happen in the middle of a speech or something like that.\r\n\r\nI am not sure whether it’s an overriding feeling of dis-belief that he actually pulled it off, beat the odds, beat a well-oiled machine, claimed victory with his whole party against him, in fact, he alone, with just the help of his family and his running partner, took on the might of the Presidency and the Billions of dollars behind a Clinton campaign and won.\r\n\r\nThe Republican party that hid under rocks during the campaign are now only too happy to crawl out from under that rock and feast on the spoils of victory to which their added value was zero, in fact in some cases minus.\r\n\r\nThis is one main reason why I have a low opinion of politicians. They are only fair weather friends. I realize that there are some good ones, but in most countries, you can count them on one hand. I now have first-hand experience of 5 countries.\r\n\r\nMoving on…\r\n\r\nThanks be to God, that neither Piers Morgan or Omarosa parachuted in on the parade on Pennsylvania Avenue, that would have really put my, “it’s about to happen”, reality TV, TV stunt thoughts front and centre.\r\n\r\nDefinitely moving on now….\r\n\r\nThe fashion show in DC went off without a snag just 30 minutes late…I must say that the Brits would never stand for the delay, being the masters of pomp and ceremony everything in the UK is rehearsed and timed repeatedly down to almost the tenth of a second for accuracy.\r\n\r\nHowever, one must say that despite what we may think of THE DONALD the fashion police in DC will take on a new role for at least the next four years commenting on Melania, Ivanka and wives of Don Jnr and Eric. In some ways, it could be a pleasant distraction from the twitter account!\r\n\r\nThe speech in my opinion was just like one from the stump. He had to do that, I cannot for the life of me get over the debate about it.  It was 100% expected.\r\n\r\nSo; all over Washington right now, Republican and Democrats alike are in front their GP (Doctor), requesting drugs to get them through the first 100 days of the TRUMP administration.  I never give out any recommendations on stocks or even FX trades, I cannot, but what I can tell you is that we should all watch the shares of PROZAC and OXYCONTIN, I think these could be good buys, whoever manufactures them.\r\n\r\nThe whirlwind is in town and I would expect that blockages to change will be named and shamed publicly like never before to alert the people who voted them in that they do not have the future of a United States in their heart, or words to that effect.\r\n\r\nPoliticians the world over, hide behind the party line as a reason to oppose, this is how career politicians survive. If they can blame someone instead of defending their own actions, it suits them better as they need continual good approval rates to be good in order to survive. Popularity is a like an addictive drug to career politicians. Solving problems and fixing things is not in their chemistry, just not in their DNA. It is better to blame someone for something that is not working than actually try to make it work by doing something about it. That would be courageous, thinking outside the box.\r\n\r\nIf the DONALD is true to his word and I have or see no reason why he won’t stick to his beliefs and run Washington like a business, career politicians must change or get out. Sure, there will be negotiation, but if the DONALD is seen early on to have a couple of wins under his belt, should anyone block change that he sees as another win, God help them.\r\n\r\nThe changes will be radical, possibly very innovative but definitely a new chapter away from the way the dysfunctional way that DC has operated in the past. It should be interesting. Politicians with lots of severe headaches, finding tranquilly and calm hiding under their desks frightened to speak to the gathering press to answer accusations. Hence the OXYCONTIN and PROZAC references.\r\n\r\nFrom my selfish perspective as a Forex trader where does all that leave me?\r\n\r\nThe simple answer is… I wish I knew! Right now, I am as uncertain about what happens and how it all unfolds as much as players who are in the know.\r\n\r\nWithout doubt the USD will be smacked up and smashed down. What do I know for certain at the moment?\r\n<ul>\r\n 	<li>The US is almost at full employment.</li>\r\n 	<li>The economy is looking to be on the up.</li>\r\n 	<li>The DONALD wants to make huge capital expenditure projects.</li>\r\n 	<li>The is good for inflation.</li>\r\n 	<li>This will be good for morale and consumer confidence.</li>\r\n 	<li>This will feed into retail sales.</li>\r\n 	<li>This will feed into housing, new home sales and re-sales.</li>\r\n 	<li>This will feed in home improvements.</li>\r\n 	<li>This will feed into earnings as demands for the right skills increase.</li>\r\n 	<li>Better deposit rates for savers!</li>\r\n</ul>\r\nThe above list and there’s more will be great for the US.\r\n\r\nThere are some negatives though.\r\n<ul>\r\n 	<li>Inflation on goods and services.</li>\r\n 	<li>Gas price increases.</li>\r\n 	<li>Higher Interest Rates.</li>\r\n 	<li>Increased Mortgage Costs.</li>\r\n</ul>\r\nThen of course we have the FED. Uber DOVE, Janet Yellen, who I think operates behind the curve is on a path of Monetary Policy Divergence away from all the other major central banks in the G7. With the positives and negatives that I’ve listed above and there are probably pages more of them, she runs the risk of being left behind.\r\n\r\nAs stated soooooo many times last year, it is so easy to be a DOVE. Keep things as they are, move after the event. Being a HAWK requires conviction, belief and a commanding authority. Does Janet Yellen have this skill set? Can she prepare the Financial Markets in advance for changes in the economy? I am NOT convinced. I think it’s so easy in a low rate environment but in an expansionary environment it requires a whole new skill set, the main one being to stand up to Wall Street.\r\n\r\nAs a Forex trader, the movement in the USD over the next four years is paramount to everything we do. It is at the heart of every trade we if we are trading the AUD/NZD. The way the USD moves and its correlation to commodities that can have a direct bearing on either the AUD or the NZD currency must be borne in mind. In this example the relationship between COPPER and GOLD and the USD directly affects the AUD.\r\n\r\nIf you remember, the plans that the DONALD had before coming to power have not altered, the alleged market experts, (I would say 100% of them) said that if the DONALD was elected the USD would dump and the USD/JPY would hit 95.00-98.00. What happened was the USD rallied like crazy to 103.50 from a low of 96.00 and the USD/JPY from 101.00 hit 118.00 both in less than a month after he was elected. Given the experts were about a much use a chocolate teapot, I think we have a difficult answer to the basic question on the USD.\r\n\r\nSo, keeping things simple here’s my take.\r\n\r\nIf THE DONALD starts getting his agenda passed and gets the funding on infrastructure, personally I think we are off. This alone creates jobs, spending, raw materials the whole nine yards.\r\n\r\nThe affordable care act (Obamacare), does not concern me, personally, I thought Obama was onto something but the drug companies have way too much power and influence in US. Health care will NEVER get fixed in the US, there is too much money at stake, it will be “a fudge” in my opinion. This may be a vote winner but it’s not a continual USD market mover like infrastructure.\r\n\r\nInfrastructure spending is the key to re-start the merry-go-round.\r\n\r\nWhere can the USD (DXY) go?\r\n\r\nThe overriding thought that is stuck in my head when I think about TRUMPECONOMICS, is extremes. Everything associated with THE DONALD is glitter and bright lights. He is Marmite (you either love him or hate him). His policies are in the same mold.\r\n\r\nIn my opinion the range here is dead simple. With success on infrastructure spending and an 8-year program I see 120.00 again on the DXY. Failure and the dysfunctional DC continues I see the USD toying with 80.00 maybe back to financial crisis lows of around 70.00.\r\n\r\nEither move will have spectacular results, vis-à-vis the Forex market. Recession and QE again, possibly negative interest rates on failure to succeed and buoyancy like never seen before on the other side of the equation.\r\n\r\nUSD/JPY at 150.00 or 75.00.\r\n\r\nEUR/USD at 90.00 or 1.4000.\r\n\r\nThese sound crazy numbers. I am 100% sober writing this blog.\r\n\r\nWe are living in extreme times. The new President is sworn in on a mandate of shake ‘em up. Everything he touches will be seen as RISK by the traditional hierarchy. He will face battles to move on policy. He will use whatever he can to force his agenda, twitter and the like, it will be messy, there will be blood and for these reasons I see extremes on the spectrum of success.\r\n\r\nSure, when first looking at my currency ranges they are not only massive but extreme but it’s horses for courses, in my opinion these are realistic ranges to consider in the event of success or failure.\r\n\r\nIn my opinion, to say that THE DONALD has stepped up and placed a noose around his own neck is an understatement. This is why, I firmly believe he will name and shame those who block jobs and US prosperity. He has a big reputation, much of it by self-proclamation, therefore failure is not an option.\r\n\r\n&nbsp;\r\n<ol start=\"6\">\r\n 	<li><strong> CLOSING THOUGHTS:</strong></li>\r\n</ol>\r\nNothing more to add here, I have said enough except,\r\n\r\nAs usual…\r\n\r\nAlways remember longevity in Forex trading can only be achieved through trading with good RISK and MONEY MANAGEMENT, and above all set your position sizes in accordance with the size of your account and allow for some flexibility.\r\n\r\nTake care, have a great trading week.\r\n\r\nScott Pickering\r\nThe Pip Accumulator\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/disclaimer/\">http://weeklyfxdrivethru.com/disclaimer/</a>\r\n\r\nBLOG VERSION: #124 PREMIUM SERVICE\r\nDATE: 22nd January 2017.<strong>\r\n\r\n</strong>','TRUMP, PROZAC, OXYCONTIN and THE USD','','inherit','closed','closed','','8990-revision-v1','','','2017-01-21 14:55:00','2017-01-21 19:55:00','',8990,'http://weeklyfxdrivethru.com/8990-revision-v1/',0,'revision','',0),