<h3 style="text-align: center;"><strong>THE PREMIUM SERVICE
</strong><strong>(The Home of Single-Lot $$$$ Trading)</strong></h3>
<strong>DATE: 08.02.2015
REFERENCE: #138</strong>

&nbsp;
<ol>
	<li><strong><span style="text-decoration: underline;"> INTRODUCTION:</span></strong></li>
</ol>
Thank God that last week is over.

I was really well positioned early in the week - USD long with most of my LIVE trades ready for lift off. Then we had a day of three back-to-back squeezes focusing on different pairs / areas at a time. I tried to keep myself active in the trades but eventually gave in and it became a day of managing losses from my perspective.

What a dreadful start to the month. I will have to focus and work hard, back to basics to return into positive numbers again. The great news is that with Forex Trading, there is a market everyday. As I mentioned to one of my UK subscribers last week, that usually after NFP it’s best to be light on trading until the Tuesday following a NFP data release. This is what I will do, for PREMIUM SERVICE subscribers I will run through my thoughts now that the USD is breaking out above the 61.8% retracement level and heading higher (more of this later).

During last week apart from the “Squeeze Day” we had some key data and news releases:-
<ul>
	<li>Despite weaker ISM numbers and ADP numbers missing we had blow out NFP data. This has placed the DXY above key resistance and the USD back into strength mode.</li>
	<li>UK all PMI’s beat (Which made the GBP very bullish).</li>
	<li>The RBA cut interest rates.</li>
	<li>RBNZ Governor Wheeler was about as useful as a chocolate teapot in talking down the NZD/USD.</li>
	<li>CAD jobs numbers were good.</li>
</ul>
The “squeeze” took the joy of the week away from my own perspective as far as I was concerned, but we are set up now for what could be a week or two of some nice directional trading. If it happens it will give me a Cheshire cat grin from ear to ear.

Looking forward, the pick of the news events for me this week are: -

RBA - Governor Glenn Stevens speaking twice.
AUD - Employment Data (watch the part-timers they screw with the numbers).
GBP – Bank of England Inflation Report (“Jackanory” time for Carney).
USD – Core Retail Sales.

As I have mentioned several times to my subscribers this past week, its how you bounce back that sets you aside from the crowd. I know lots of retail traders were hit bad on both the “SNB day and Squeeze Day”. I hope for all of us that the next two weeks will deliver directional trading as I think.

Time will tell.

&nbsp;
<ol start="2">
	<li><strong><span style="text-decoration: underline;"> WHAT’S ON MY MIND: -
THE FUNDAMENTAL TRADERS OVERVIEW:</span></strong></li>
</ol>
<p style="text-align: center;"><strong>THE MERRY-GO-ROUND CONTINUES…OR DOES IT?</strong><strong> </strong></p>
To say that Forex Trading is like riding a roller coaster after consuming a full IRISH ALL DAY BREAKFAST is pretty accurate in my eyes. At times you feel like you are going to puke your guts up and at others the thrill of trying to keep it down because the ride is so good is exhilarating.

As traders we have suffered through SNB Day, the ECB QE and most recently the mother of all short squeezes…it is one could say a merry-go-round or roller coaster ride.

Is it fun…you be the judge?

From reading on twitter to watching on TV, all you hear is Forex Trainers telling you how much they love volatility. This is bulls*it…they do not trade, they have zero skin in the market. All they do is spout what sounds cool, what they think we, as traders love to hear.

I like DIRECTIONAL TRADING, nothing more nothing less. It’s the business, it’s the best type of trading, for me it’s great, I love it, give me more of it. Never in a million years could I ever believe I would get sick of, or in any way over-supplied with DIRECTIONAL TRADING.

Unfortunately, we do not get enough DIRECTIONAL TRADING…. We get bloody “chop-fest” after “chop-fest” followed by a washout squeeze for good measure, it’s like playing ball with an over exuberant Labrador dog and getting head butted by the dog in the samosas (balls) … it hurts but you just get on with it.

This to me is Forex Trading; you get kicked in the boll***s over and over again and like laboratory rats on a food experiment you just keep coming back for more.

Moving on from the pleasantries;

The USD INDEX (DXY) 240-minute chart below shows that last Friday after the release of the U.S. Non-Farm payroll numbers we broke out of the bull flag pattern. The measured move is to about 101.00. If this measured move happens and it will NOT be in a straight line there should be some big Forex moves in the pipeline.

So does the merry-go-round continue?

I think that it all depends on the open tonight thru Monday’s sessions in Europe and North America. If the DXY continues to hold above the trend line I believe yes the merry-go-round is over for a while.

What would I like to see happen?

Tomorrow at some time I would like to see the trend line break re-tested and a bounce take place back in the direction of 101.00. If this happens… happy days, I hope!!

So what currency pairs will I be focused on and to what levels?
<ol>
	<li>EUR/USD: - A move higher with the DXY, should see the EUR/USD fall. Assuming that the DXY takes on the measured move to 101.00, in my eyes this targets the EUR/USD to 1.0750.
NOTE: This directional move is supported by the divergent monetary policies of the FED and ECB. One hawkish and raising rates, the other dovish about to launch a full-on Quantitative Easing (QE) program.</li>
</ol>
<ol start="2">
	<li>EUR/GBP: - The DXY move should set this pair lower towards 72.40. With this pair I have to take into consideration the GBP/USD move. Should the EUR/USD really come under pressure the GBP/USD will fall in sympathy if for no other reason. I can’t see the BOE Governor Mark Carney getting his panties in a twist if cable weakens.
NOTE: This direction is supported by ECB policy.</li>
</ol>
<ol start="3">
	<li>USD/JPY: - Even though I hate trading JPY pairs a move to re-test the highs of 121.84 looks to be in play with increasing USD strength. Ultimately, we could test as high as 125.00, who knows?NOTE: This directional move is supported by divergent central bank policies that are currently in play between the FED and BOJ.</li>
</ol>
<ol start="4">
	<li>AUD/USD: - This pair has held up really well all things considered and particularly given the fact that RBA cut rates last week and has become very dovish in outlook. The RBA monetary policy statement last week was not as dovish as I was expecting but there is no doubt that the RBA Governor Glenn Stevens wants to see the AUD/USD exchange rate around 0.7000. That is about 700 pips off present levels. The DXY at 101.00 would certainly achieve this goal in my opinion.
NOTE: This directional move is supported by the central bank divergent monetary policies being different between the FED and RBA.</li>
</ol>
<ol start="5">
	<li>NZD/USD: - We have the most bizarre of all central bank governors in position at the RBNZ in the shape of Graeme Wheeler. He raises the central bank interest rates and then tries to talk down the exchange rate of the NZD/USD. He is a bit of a nightmare and has cost me thousands of pips and $$$ in the past 12 months. Having said that New Zealand Prime Minister John Key wants the NZD/USD exchange rate around 0.6500. Lets see if he can successfully pressure the independent RBNZ into action to achieve this level.
NOTE: The RBNZ came out dovish two weeks ago and is on a divergent monetary policy to that of the Fed and in so being this way supports a move lower with this currency pair.</li>
</ol>
<ol start="6">
	<li>USD/CHF and EUR/CHF: - Now that “SNB day” is behind us, the SNB is no longer handcuffed on intervention. They have said albeit through unnamed individuals within the SNB that they would like to see the EUR/CHF around 1.1000 and given any USD strength the USD/CHF could head back to parity.</li>
</ol>
&nbsp;

If the merry-go-round stops we should have DIRECTIONAL TRADING of a sort, but as I said earlier do NOT expect a straight-line move. Announcements involving the FED will spur the move on and whatever you hear about the FED not raising rates, it will be complete crap in my opinion because if the FED does not deliver what it has promised the market, it will have huge credibility issues. That is the very last thing that Janet Yellen needs. There may be f**k ups on timings of rate hikes but rate hikes there will be.

Certainly the trades and pairs listed above will be on my RADAR from Tuesday morning. The commodity currencies concern me a little at the moment because equities are not rolling over. If we see a pullback in U.S. equities then all is OK. Rate hikes from the FED will help.

The cross-rates are a different matter; certainly with a shift in RISK they become more and more attractive.

The first few days of this week will either confirm the USD move or not. Personally, I can’t wait to see what happens.

&nbsp;
<ol start="3">
	<li><strong><span style="text-decoration: underline;"> THE PREMIUM SERVICE:
<strong><span style="text-decoration: underline;">SUMMARY OF PERFORMANCE:</span></strong></span></strong></li>
</ol>
<span style="text-decoration: underline;">3.1 OVERVIEW:</span>

For new readers who may not be aware, I refer to the PREMIUM SERVICE quite a lot in this blog and for more details about what it is, and, how much it costs, you will need to go the welcome page of <a href="http://www.weeklyfxdrivethru.com">www.weeklyfxdrivethru.com</a> At the top of the page there are three drop down menus: PREMIUM SERVICE, PROMOTIONS (if available), SIGN-UP and DISCLAIMER. Further details and how to join are all contained there. You will need at PayPal account to subscribe.

&nbsp;

<span style="text-decoration: underline;">3.2 PREMIUM SERVICE – SUBSCRIPTION COSTS:</span>

Full details regarding the PREMIUM SERVICE can be found on my website <a href="http://www.weeklyfxdrivethru.com">www.weeklyfxdrivethru.com</a>

On the welcome page there are a series of TABS at the top of the page that provide a summary of what the PREMIUM SERVICE is about and what you receive for your subscription.

THE 2015 SUBSCRIPTION BREAKDOWN IS AS FOLLOWS: -

10 weeks - $200.00
20 weeks - $350.00
40 weeks - $500.00

<span style="text-decoration: underline;">3.3 TRADING REVIEW OF ACTIVITY and SUMMARY OF PERFORMANCE:</span>

Last week was a bugger of a week. The “squeeze” really took my trades and accounts apart, thankfully I trade with stops and have a 3% limit in place to cope with market shenanigans. It still does not look pretty when you look at your broker account balance, although it could have been worse.

The PREMIUM SERVICE therefore shows a negative for the start of February. All loss trades were mainly due to the squeeze; I was positioned in line with Central Bank policy ready to make a killing on about 600-700 pips when it all went arse-ways. I took around 800 pips in losses instead.

Personally, I traded lightly after taking the above losses, as I believed that the markets would go sideways up until NFP.

The usual summary charts detailing the week and year to date performances, are below: -

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<span style="text-decoration: underline;">3.3.1. – PREMIUM SERVICE PROFIT/LOSS RATIOS:

</span>

<a href="https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/PROFIT-LOSS-RATIOS-08022015.png"><img class="aligncenter size-full wp-image-5254" src="https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/PROFIT-LOSS-RATIOS-08022015.png" alt="PROFIT-LOSS RATIOS 08022015" width="405" height="587" /></a>

<span style="text-decoration: underline;">3.3.2. – PREMIUM SERVICE RISK/REWARD ANALYSIS:</span>

<a href="https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/RISK-REWARD-08022015.png"><img class="aligncenter size-full wp-image-5255" src="https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/RISK-REWARD-08022015.png" alt="RISK-REWARD 08022015" width="431" height="548" /></a>

<span style="text-decoration: underline;">3.3.3. – PREMIUM SERVICE OVERALL TRADE SUMMARY MONTH &amp; YTD:</span>

<a href="https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/PREM-SERV-PROFITS-1-08022015.png"><img class="aligncenter size-full wp-image-5256" src="https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/PREM-SERV-PROFITS-1-08022015.png" alt="PREM SERV PROFITS 1 08022015" width="456" height="438" /></a>

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<a href="https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/PREM-SERV-PROFITS2-08022015.png"><img class="aligncenter size-full wp-image-5257" src="https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/PREM-SERV-PROFITS2-08022015.png" alt="PREM SERV PROFITS2 08022015" width="459" height="419" /></a>

<span style="text-decoration: underline;">3.4 THE PREMIUM SERVICE – 2015 PROMOTION</span>

<strong>THE PREMIUM SERVICE
</strong><strong>(The Home of Single-Lot Trading)</strong>

<strong>FOR JANUARY and FEBRUARY 2015
</strong><strong>ONLY
</strong><strong>THE PREMIUM SERVICE
</strong><strong>Offers a
</strong><strong>“BONUS WEEKS”
</strong><strong>LIMITED TIME PROMOTION:</strong>

Keeping your PREMIUM SERVICE trades separate from your own trades can give you an instant direct performance comparison.

If you open a separate account with any of my trading partners / preferred brokers CWMFX, AvaTrade or Blackwell Global, you will be eligible for “BONUS WEEKS” to be added to your subscription.

This is in addition to the account-opening bonuses for new clients offered by AvaTrade, (see their website www.avatrade.com for full details), or, Blackwell Global (contact me directly for bonus details)

The promotion also applies to CWMFX accounts as well. They offer very tight rate spreads as an alternative to account opening bonuses offered by AvaTrade and Blackwell Global.

If you intend to be or are a longer-term position style trader only looking at your computer once a day tight rate spreads may not be as important to you and as such, the AvaTrade or Blackwell Global bonus may be more appealing to you.

Conversely, if you intend to be a more active trader the CWMFX tight rate spreads will be of more interest.

The choice is yours.

This promotion with my associated trading partners will expire of Saturday 28th

February 2015…it is really very limited: -
<ol>
	<li>Subscribe to the PREMIUM SERVICE:</li>
</ol>
You will need to go to the welcome page of my website <a href="http://www.weeklyfxdrivethru.com">www.weeklyfxdrivethru.com</a>

Click on the sign-up tab at the top of the page.

2015 PREMIUM SERVICE SUBSCRIPTION RATES

10 weeks = $200.00

20 weeks = $350.00

40 weeks = $500.00 (full year / annual subscription)

NOTE: I limit my trading during periods of thin liquidity such as Christmas / New Year and Late July / August summer vacation times.

Hence, 40 weeks is equal to an annual subscription.

&nbsp;
<ol start="2">
	<li>Open a LIVE account clicking on the “BANNER” of the broker of your choice on my website.</li>
</ol>
This will enable you to achieve a trading bonus direct from AvaTrade or BLACKWELL GLOBAL or opt for the tight rate spreads from CWMFX.

For Blackwell Global advise me of what you are doing and I will guide you through the process.

All the banners are on the welcome page of my website

www.weeklyfxdrivethru.com

&nbsp;
<ol start="3">
	<li>PREMIUM SERVICE – BONUS WEEKS PROMOTION:</li>
</ol>
Once the LIVE trading account is confirmed and funded, I will extended

PREMIUM SERVICE subscription periods as follows after you have advised me what you have done via email at <a href="mailto:premiumservice@weeklyfxdrivethru.com">premiumservice@weeklyfxdrivethru.com</a>: -

10-week subscriptions will receive a bonus of 5 weeks (15 weeks total)
Your subscription would be equivalent to $13.33 per week.

20-week subscriptions will receive a bonus of 10 weeks (30 weeks total)
Your subscription would be equivalent to $11.66 per week.

40-week subscriptions will receive a bonus of 20 weeks (60 weeks total)
Your subscription would be equivalent to $8.33 per week.

This promotion represents the best offer that I have participated in and has an unbelievable value. It is simply the best that I have ever promoted and is a great way to start trading in 2015.

It would hopefully be the start of a very profitable relationship together.
<ol start="4">
	<li>PLEASE NOTE: - THE FOLLOWING CONDITIONS TO THE PROMOTION:</li>
</ol>
Only broker accounts opened via the banner on my website www.weeklyfxdrivethru.com are accepted for the PREMIUM SERVICE BONUS WEEKS PROMOTION.

For the “BONUS WEEKS PROMOTION” in subscription weeks to the

PREMIUM SERVICE to remain intact you must meet the AvaTrade, Blackwell Global or CWMFX requirements for operating your broker account. Should your account with AvaTrade, Blackwell Global or CWMFX cease to be valid and close the “BONUS WEEKS” segment of the PREMIUM SERVICE promotion will also be withdrawn.

This PREMIUM SERVICE “BONUS WEEKS PROMOTION” is only available with this offer and is 100% linked to the AvaTrade, Blackwell Global or CWMFX LIVE accounts being opened via the banners on the welcome page of my website www.weeklyfxdrivethru.com

&nbsp;

&nbsp;
<ol start="4">
	<li><strong><span style="text-decoration: underline;"> PREMIUM SERVICE SUBSCRIBER EXCLUSIVE CONTENT:</span></strong></li>
</ol>
(Section 4 is exclusive PREMIUM SERVICE content only available to PREMIUM SERVICE subscribers)

<span style="text-decoration: underline;">4.1 EDUCATION:
</span>

<span style="text-decoration: underline;">4.2 THE PREMIUM SERVICE - EXISTING LIVE TRADES:</span>

<span style="text-decoration: underline;">4.3 THE PREMIUM SERVICE - TRADES THAT ARE ON MY RADAR:</span>

<span style="text-decoration: underline;">4.4 MAJOR TRADING PAIRS WITH LONGER-TERM TRENDS MATCHING:</span>

<span style="text-decoration: underline;">4.5 THE KEY SUPPORT &amp; RESISTANCE LEVELS WITH THE USD MAJORS</span><strong><span style="text-decoration: underline;">:

</span></strong>

&nbsp;
<ol start="5">
	<li><strong><span style="text-decoration: underline;"> THE WEEK AHEAD: -
WHAT AM I THINKING &amp; WHAT AM I LOOKING AT?</span></strong></li>
</ol>
&nbsp;

<span style="text-decoration: underline;">5.1 SUBSCRIBING TO THE “FREE VERSION” OF THE WEEKLY FX DRIVE THRU:</span>

If you like what you have almost completed reading and want to have THE WEEKLY FX DRIVE THRU delivered direct to your email inbox next week, here is what you do: -

Go to my website: - <a href="http://www.weeklyfxdrivethru.com">www.weeklyfxdrivethru.com</a>

On the right hand side of the welcome page under my bio “about me” there is a blue box titled SUBSCRIBE TO FREE NEWSLETTER, click on profile and add your email address. It is as simple and straightforward as that.

I do NOT sell your email data to anyone…do not worry.

&nbsp;

<span style="text-decoration: underline;">5.2 MAJOR FOREX NEWS THIS WEEK THAT INTERESTS ME:</span>
SUNDAY: AUD – RBA Governor Glenn Stevens speaks.

MONDAY: AUD – NAB Business Confidence.
MONDAY: CNY – CPi.

TUESDAY: AUD – Employment Data.

WEDNESDAY: GBP – BOE Inflation Report – BOE Governor Carney speaks.
WEDNESDAY: USD – Core Retail Sales.
WEDNESDAY: AUD – RBA Governor Glenn Stevens speaks again….

THURSDAY: N/A.

FRIDAY: N/A.

&nbsp;

<span style="text-decoration: underline;">5.3 FINAL THOUGHTS / CLOSING COMMENTS:</span>

There is not as much news on the agenda this week as last week. This does not mean that there will not be much activity however. Beware of the Greeks!! I am expecting EUROZONE news to build up again now that German Finance Minister Schaeuble has made the front pages in the German newspapers telling the Greeks where to get off in relation to debt forgiveness amongst other things.

Whilst there will be trades to trade and there will be some great opportunities, please trade in line with your RISK MANAGEMENT parameters from your TRADING PLAN. If you do not have a TRADE PLAN, in my opinion, you should, as this will help you with consistency.

<strong>Consistency = longevity in trading and that is a critical goal.
IT IS THE KEY MEASUREMENT</strong>

Before you enter a trade work out the risk, price it in $$$. Place your stop accordingly. PREMIUM SERVICE subscribers have a full library of information on RISK MANAGEMENT, RISK TOLERANCES and POSITION SIZING etc. available for reference 24x7.

Take care.

Scott Pickering
The Pip Accumulator
Sunday February 8th 2015

EMAIL / FOLLOW ME AT:

drivethru@weeklyfxdrivethru.com
Twitter: @pipaccumulator
<span style="line-height: 1.5;">Google+/scottpickering
</span>Tumblr: thepipaccumulator

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<strong><span style="text-decoration: underline;">DISCLAIMER &amp; OTHER DATA:</span></strong>

<span style="text-decoration: underline;">THIRD PARTY COMPANIES WITH BANNERS ON MY WEBSITE:</span>

There are a small number of companies with banners on my website. In the interests of full disclosure I have a reciprocal business arrangement with these companies to promote their products.

Unlike many of my competitors, I use the products and services provided by these companies. I will NOT allow any third party on my website unless I am 100% happy that they can back up their promise.

By virtue of the fact, I work with these companies almost daily. I am more than confident to have them advertise on my website.

Any reader who buys products or services from any advertiser via a banner on my website, <a href="http://www.weeklyfxdrivethru.com">www.weeklyfxdrivethru.com</a> will automatically have my help and assistance with any issues that they may have with my partnered advertisers.

<span style="text-decoration: underline;">TRADING &amp; PERFORMANCES DISCLAIMER:</span>

FLASH, RADAR and FUNDAMENTAL trade set-ups, “Tweets” and “Trade ideas” that are posted in my blogs or on Twitter are trades and set-ups that interest me. They are provided for training and informational purposes only and should not be interpreted as an offer, solicitation or recommendation of any specific security or investment strategy. Past performance is not indicative of future results. Trading Forex carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to trade any such leveraged products you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with trading on margin, and seek advice from an independent financial adviser if you have any doubts.