<p style="text-align: center;"><span style="font-size: 14pt;"><strong>#39 – THE PREMIUM SERVICE BLOG</strong></span></p>
<p style="text-align: center;"><span style="font-size: 14pt;"><strong> THE WEEKLY FX DRIVE THRU
(FULL VERSION)</strong></span></p>
<strong>22.11.2014</strong><strong> </strong>
<ol>
	<li><span style="font-size: 12pt;"><strong> INTRODUCTION:</strong></span></li>
</ol>
Well I for one am glad that the last trading week is over. It was a very strange week from a trading perspective. Some nice profits but it was all too frantic at times. I think that the main reason for this was the fact that the USD (DXY) is in a trading range and therefore most currency pairs are likewise.

Yesterday (Friday) we saw Mario Draghi ECB President, jawbone (talk) the market once again and he really did a great job in weakening the EUR. Earlier in the week, on Tuesday Glenn Stevens governor of the RBA did a similar thing, whilst Shinzu Abe the Japanese Prime Minister delayed a proposed sales tax hike, dissolved parliament to set another general election in Japan to win a fresh mandate on his policies. If that was not enough, the PBOC reduced interest rates in China (this is the Chinese route to ease) just prior to the U.S. open.

All instances were directed at weakening their local currencies, thank God there is no currency war in progress. It is strange times that we live in and given central bank divergences will it become stranger?

Looking back on the week, it probably would have been a good week to maybe miss the Forex market. Sideways consolidation in ranges were the order of the day, it was only after the PBOC news that ranges were broken.

The most concerning news reaction this week from my perspective was the reaction of the DXY, when on Thursday we saw two really good pieces of data from the U.S. i.e.: both Core CPi and the Philly FED Manufacturing Index (back to 2011 numbers and indicative of a GDP around 6%) the reaction from the DXY was muted. I expected it to be blasting through resistance around 88.20. Instead it stayed in side the range of 87.20 to 88.20.

As a result, I think I will manage the current batch of PREMIUM SERVICE live trades, but I am now very reluctant to enter new trades unless they are short-term pullback entry scalping trades. This is until we get a breakout.

Why, what are my reasons for this?
<ol>
	<li>My thoughts are that as GOLD is rising (God knows why?) and with OIL fluctuating at key support this affects USD strength. When GOLD and the USD go “up” together, which can happen, it does NOT give me comfort trading. This was happening yesterday when the EUR/USD lower move was in play.</li>
</ol>
<ol start="2">
	<li>During last week, a Japanese Government Economics spokesman also muddied the waters stating that the USD/JPY surge to 119.00 was too fast. This is weighing a little on the pair and as a result it is having difficulty holding above 118.00, even with U.S. equities at +150 the USD/JPY was falling lower.</li>
	<li>S. equities themselves up until Friday’s PBOC interest rate cut, were literally just moving very slowly point by point on thin trading volume to new highs each day. Who believes that this market can continue to grind higher? Do I think we are at that point? The biggest buyers in the markets are still apparently companies buying back their own shares to manipulate their earnings to satisfy analysts and investors. Therefore, in my opinion, the markets are screwed up as far as I can determine.</li>
</ol>
I am fundamentally in my plan still long the USD but I need a technical confirmation before I move back in the trades and trade sizes. I trust that this makes some sense.

My final comments from last week are still valid: -

<strong><em>Looking forward; my fundamental trading ideas are still intact. I still have my “PLAN A” on the table. It is based very simply and primarily on the four bullet points below: -</em></strong>
<ul>
	<li><strong><em>The end of QE (Quantitative Easing) in the U.S.</em></strong></li>
	<li><strong><em>The FED stating that interest rate rises will happen in 2015.</em></strong></li>
	<li><strong><em>FED and ECB on divergent monetary policies.</em></strong></li>
	<li><strong><em>FED and BOJ on divergent monetary policies.</em></strong></li>
</ul>
<strong><em>I firmly believe that there are thousands of pips available with the up coming moves. Plus, we have a bonus after the USD failure yesterday that will enable us to enter trades at much better prices.</em></strong>

&nbsp;
<ol start="2">
	<li><strong></strong><strong><span style="font-size: 12pt;"> THE PREMIUM SERVICE:</span></strong>&nbsp;</li>
</ol>
<p style="text-align: center;"><strong><span style="font-size: 12pt;">OVERVIEW, TRADING ACTIVITY, NEWS UPDATES, PLUS
</span></strong><strong><span style="font-size: 12pt;">MONTHLY AND YEAR TO DATE
</span></strong><span style="font-size: 12pt;"><strong>TRADING SUMMARIES:</strong></span></p>
<span style="text-decoration: underline;">2.1 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, SIGN-UP and DISCLAIMER. Further details and how to join are all contained there. You will need at PayPal account to subscribe.

<span style="text-decoration: underline;">2.2 TRADING ACTIVITY:</span>

As I stated earlier I found the past week a strange week to trade. I was never 100% fully confident in the moves and this plagued me as the week progressed.

Whilst the PREMIUM SERVICE moved forward with profits I took just one loss, which was as a result of a poor entry on my part. It is always so easy to look back and identify were you as a trader screwed up. I just wish that once I would have put my hands in my pocket and not traded. Just goes to show, I am human and NOT a robot.

In the week for STANDARD LOT traders they added $2,500.00, MINI LOT traders $250.00 and MICRO LOT traders a further $25.00. As I repeatedly tell traders as long as you are adding all is good.

I knew as the week started that I had to be aware of sideways consolidation. However, I am pleased to have made profits, so its time to move forward once again.

THE PREMIUM SERVICE
Performance - Month to date:

TOTAL CLOSED TRADES             = 40

PROFITABLE TRADES                   = 34 (85% of trades successful)

LOSS MAKING TRADES                = 6 (15% failed trades)

I am very comfortable with my trade ratios. I seem to be, despite my gloom and doom sometimes, better at trades in difficult conditions than when we have a trading or directional market. It does NOT make sense but I am looking at historic statistics and that comment appears very accurate…. weird.

<span style="text-decoration: underline;">2.3 THE PART-TIME TRADER AND THE PREMIUM SERVICE:</span>

In recent times, the number of part-time traders who have subscribed to the PREMIUM SERVICE have been on the increase.

No matter what type of trader you are, or style you use, experienced or new to Forex trading I want the PREMIUM SERVICE to be able to offer you something.

I have been asked, if I were the PART-TIME FOREX TRADER subscribing to the PREMIUM SERVICE how would I want it to work for me.

As a PART-TIME trader you may only have opportunities to check your open positions maybe three times a day: -
<ol>
	<li>First thing in the morning (7.00-8.30AM EDT).</li>
	<li>Lunch time (12.00-1.00PM EDT).</li>
	<li>Evening time (7.00-8.30PM EDT)</li>
</ol>
In addition, I have subscribers from all around the world. These times would therefore have to be localized as best as possible.

I have three types of trades; FLASH, RADAR and FUNDAMENTAL. Roughly speaking, FLASH TRADES account for 50% of the trades undertaken. RADAR and FUNDAMENTAL trades make up the other 50% combined, one must also note that many of these trades are cancelled because the market moves away too far from my limit order entry levels.

If I were a PART-TIME trader I would ignore FLASH TRADES; and quite frankly only look at trades that have limit orders as entries, because I would not be not be sitting with my broker account open all day waiting for tweets. However, should a FLASH TRADE present itself when I am looking at twitter or receiving a blog I would take it.

If an expectation is taken away, at least now you are dealing with reality and you trade accordingly. To generate a PART-TIME income from trading Forex is NOT impossible it just takes a disciplined approach.

If you require assistance from me on what size of broker account would fit what type of lot size you could trade, be it MICRO, MINI or STANDARD lots, do not hesitate to contact me. To give you a rough idea: -

MICRO LOT TRADING = minimum $1,000.00 to $5,000.00.

MINI LOT TRADING = minimum $5,000.00 to $20,000.00.

STANDARD LOT TRADING = minimum $20,000.00 onwards.

Inside the PREMIUM SERVICE under the EDUCATION tab you are able to review how to position size, design a TRADING PLAN and learn about RISK TOLERANCE and RISK MANAGEMENT.

From all this realistic trading $$$ goals can be set.

Feel free to contact me with any issues / thoughts that you have on this subject, I will do my utmost to help you.

<span style="text-decoration: underline;">2.4 SUBSCRIBING TO THE PREMIUM SERVICE – POINTS TO CONSIDER:</span>

Whilst I cannot guarantee future income to you or even myself through the performance of the PREMIUM SERVICE, I have a vested interest in ensuring an optimum performance.

My website: <a href="http://www.weeklyfxdrivethru.com">www.weeklyfxdrivethru.com</a> contains more data about what the PREMIUM SERVICE is, how it works and what you as a subscriber should expect to receive. Just visit my welcome page, at the top of the page there are drop down menus that will provide more detailed information.

In this section of the blog, I just wanted to highlight some key points to consider.
<ol>
	<li>2014 year to date, for those subscribers who joined on day one, who traded MICRO lots they would have traded 474 trades at a cost of $47.40 and earned from those trades $1,032.70 (This exampleis based on single lot trades).If you had traded 3 x MICRO lot trades at a time your cost to trade would have been $142.20 ($47.40 x 3) and from those trades you would have earned $3,098.10 ($1032.70 x 3).

Cost of annual membership of the PREMIUM SERVICE is $400.00.

I would recommend an account with a minimum of $1,000.00 to $5,000.00 balance to trade MICRO lots.</li>
	<li>2014 year to date, for those subscribers who joined on day one, who traded MINI lots they would have traded 474 trades at a cost of $474.00 and earned from those trades $10,327.00 (This exampleis based on single lot trades).If you had traded 3 x MINI lot trades at a time your cost to trade would have been $1,422.00 ($474.00 x 3) and from those trades you would have earned $30,981.00 ($10,327.00 x 3).

Cost of annual membership of the PREMIUM SERVICE is $400.00.

I would recommend an account with a minimum of $5,000.00 to $20,000.00 balance to trade MINI lots.</li>
	<li>2014 year to date, for those subscribers who joined on day one, who traded STANDARD lots they would have traded 474 trades at a cost of $4,740.00 and earned from those trades $103,270.00 (This exampleis based on single lot trades).If you had traded 3 x STANDARD lot trades at a time your cost to trade would have been $14,220.00 ($4,740.00 x 3) and from those trades you would have earned $309,810.00 ($103,270.00 x 3).

Cost of annual membership of the PREMIUM SERVICE is $400.00.

I would recommend an account with a minimum of $20,000.00 to trade STANDARD lots.</li>
</ol>
It’s all about the size of your broker account and applying RISK MANAGEMENT and a TRADING DISCIPLINE to your trading.

The PREMIUM SERVICE has a growing library of tools in the EDUCATION section to help.

My goal is to search the markets and look at currency charts to identify high probability chart patterns that show me a trade opportunity. I then simply suggest the trade. It is up to you if you take the trade and what size position you place. I can help you 100% with your RISK MANANGEMEMNT and RISK TOLERANCES. All you have to do is ask and I will help. (Email me at: scott@weeklyfxdrivethru.com

Why not subscribe now and be ready for 2015?

<span style="text-decoration: underline;">2.5 FX BROKERS (MARKETING / TRADING BONUSES):</span>

Up until the end of 2014 one of my preferred brokers BLACKWELL GLOBAL, is offering a marketing bonus, which you can receive through my relationship agreement with them. The marketing bonus will be credited to your trading account once it is open. Even if you already have a broker account, this is something to consider should you want to open up a separate broker account to track the PREMIUM SERVICE performance separately from your own FX performance.

The MARKETING BONUS is 30% of your opening balance for all accounts opened with $1,000.00 or more subject to a maximum of a $3,000.00 bonus.

To qualify, you must use the BLACKWELL GLOBAL banner on my welcome page at www.weeklyfxdrivethru.com

The process is simple and straightforward. You will require two pieces of identification, one with a photo and one recent utility bill.

Why not look into this some more, subscribe to the PREMIUM SERVICE and open your new Forex Broker Account with a MARKETING BONUS and be ready now for 2015

If you decide to open a broker account with BLACKWELL GLOBAL – please email me so that I am aware your application is in the pipeline and can monitor it to ensure it is set up correctly. (Email me at: scott@weeklyfxdrivethru.com)

<span style="text-decoration: underline;">2.6 MONTHLY AND YEAR TO DATE TRADING SUMMARIES<strong>:</strong></span>

Below I show the up to date performances for my various trading styles. Full excel spreadsheets are in the subscriber area of the PREMIUM SERVICE website.

Below are the excel spreadsheets covering this month so far and the year 2014 to date.

<a href="https://weeklyfxdrivethru.com/wp-content/uploads/2014/11/PREM-SERVICE-PROFITS1-22112014.png"><img class="aligncenter size-full wp-image-4800" src="https://weeklyfxdrivethru.com/wp-content/uploads/2014/11/PREM-SERVICE-PROFITS1-22112014.png" alt="PREM SERVICE PROFITS1 22112014" width="450" height="429" /></a>

<a href="https://weeklyfxdrivethru.com/wp-content/uploads/2014/11/PREM-SERV-PROFITS2-22112014.png"><img class="aligncenter size-full wp-image-4801" src="https://weeklyfxdrivethru.com/wp-content/uploads/2014/11/PREM-SERV-PROFITS2-22112014.png" alt="PREM SERV PROFITS2 22112014" width="462" height="425" /></a>

<span style="text-decoration: underline;">PLEASE NOTE:</span>

The above examples in sections 2.2 and 2.3 are for illustration purposes only. The profitability examples detailed above are based solely upon single lot trading, regardless of lot type. If multiple lot sizes are traded the profitability margins will be different than those shown.

Just to provide more information so you understand where I am coming from with the risk / reward statements above. All of my trades are of different sizes and different size lot types. The above does not reflect the actual trading performance, but it does show you the direction of the performance of the trades placed. I like to add to trades, profits are taken as the trade progresses and my overall cost average moves several times. All of my trades are of different lot styles. I trade a mixture of micro lots, mini lots and standard lots across my brokers.

The above results simply display your profit or loss if you placed a single lot trade on all the set-ups suggested and did nothing else.

You must always remember to follow properly executed RISK MANAGEMENT and POSITION SIZING disciplines with all your trades and remember that Forex trading with a high degree of leverage can significantly increase your profits and losses. You should trade with a TRADE PLAN and NOT risk monies that you cannot afford to lose.

<strong> </strong>
<ol start="3">
	<li><span style="font-size: 12pt;"><strong> WHAT’S ON MY MIND:</strong></span></li>
</ol>
<p style="text-align: center;"><span style="font-size: 12pt;"><strong>THE FUNDAMENTAL TRADERS OVERVIEW
</strong><strong>IT’S A RACE TO THE BOTTOM</strong></span></p>
I am really following on from last week’s article.

I mentioned this a little in the INTRODUCTION but this week really showed what an artificial economic environment we are living in and trading in around the world.

There were 5 major news events in the past week and they all had a common denominator: -

AUD – Glenn Stevens RBA Governor was speaking about RBA Policy.
JPY – Abe and Kuroda in Japan delayed Sales Tax but committed to more QE.
USD – FOMC Meeting Minutes released.
ECB – Draghi speaks in Frankfurt about ECB Monetary Policy.
CNY – PBOC reduces interest rates and frees up bank rules in China.

All of the above were central bank related activities either direct or through the central bank chiefs.

It is a race to see who can have the weakest currency. Four of the five events above from last week were pre-meditated strikes to de-value their currency.

The exception was the USD. However, I must point out all prior comments and sound-bytes from Janet Yellen were more HAWKISH than DOVISH. The surprise was that the minutes released were far more DOVISH than previous comments from Janet Yellen. The market reaction to the data release was mixed; we saw USD weakness then after the knee-jerk reaction some 30-45 minutes later after the release USD strength came through the Forex market.

The other four events were full on jawboning easing.

We have divergence, between the FED, possibly the BOE and the rest of the major central banks.

The FED and the BOE are in the camp of raising rates either next year or early 2016, whereas the remaining central banks monetary policies are still based off easing.

Looking from a distance, one of the most interesting factors looking forward is how will the central banks that are now easing, how will they exit?

We have seen the very careful way that the FED used a tapering program to reduce the amount of ABS purchases each month. There were intense, deliberate fore warnings of what going to happen and when.

I suppose given the decades of problems in Japan, I should be asking myself will I be alive to see how the BOJ exits Quantitative Easing? Assuming I am, and given the size of the BOJ Quantitative Easing, it will be an interesting prospect to witness. I am assuming that they will taper and follow the FED’s example but this is years and years away

One aspect of central bank easing that does interest me is the way that the ECB has tackled problems since the Financial Crash of 2007-8. The ECB being controlled by Germany (despite the rhetoric to the contrary) used the AUSTRIAN SCHOOL of economics to tackle the crash.

This is based on Austerity. Basically, everyone pays up front through higher taxation to pump money though the financial system to create stability. Businesses are allowed to fail. One can argue that this has not worked given that some 6 years later the ECB is looking at QE to solve its lack of growth and DEFLATION. Was the Austerity worth it, given that now they are about to embark on QE

The FED approach was to pump the markets full of central bank cash (THE KEYNESIAN THEORY); pure stimulus aimed at flooding banks with cheap cash to allow them to stabilize and as the banking system settles so do the markets. The FED was focused on support. Now the resulting deficit has to be paid back.

The similarity to both approaches is that the resulting invoice / bill for the stability has to be paid by the people. This is why the central banks are looking for a bit of inflation to help reduce the costs

Unfortunately, the stuffing was knocked out of the ordinary taxpayer who is crucial to the overall success. They do not have the confidence to purchase goods and services and therefore growth is not happening in line with central bank projected statistics given to the markets and DEFLATION is a real fear.

What is the answer?

More stimulus.

The circle begins again and the RACE TO THE BOTTOM continues.

The big central banks; FED, ECB, BOE, BOJ and PBOC all have the ability to flood the markets and pump in cash if required and to some extent they are in continual competition to ensure growth in their economies.

The RBA, RBNZ and SNB have used both jawboning and direct intervention to manipulate the markets to keep their currencies competitive through devaluation.

In last week’s blog, I made the point of saying when you are looking at the FED versus the BOJ there are trades that stand out as pretty obvious trades. This was based on the fact that no one in his or her right mind would really want to take on trading against a central bank.

This may have been a slight under-complication of matters. If all the central banks are involved, it does complicate trading a little. What I would say however is that the FED, ECB and BOJ related trades are straightforward because of the central bank monetary policies being divergent. These are great for longer-term trends.

When you add in the BOE, SNB, RBA and RBNZ it is somewhat different and you can only really react in the short-term based around high beta news events by the central bank governors.

Having said all of that, it is a RACE TO THE BOTTOM and the biggest and deepest pockets will win, but whoever said that there was no currency manipulation going on in the world needs to review the past 5 days and then think again.

When I first started trading there were quotes at training seminars like “DON’T FIGHT THE FED”. I would go a stage further and say “DON’T FIGHT ANY CENTRAL BANK…they have more money than you”.

There are 8/9 countries manipulating at the moment…never mind don’t fight the FED!!

<strong> </strong>
<ol start="4">
	<li><span style="font-size: 12pt;"><strong> PREMIUM SERVICE EXCLUSIVE CONTENT:</strong></span></li>
</ol>
(Section 4 is exclusive PREMIUM SERVICE content only available to PREMIUM SERVICE subscribers)

<span style="text-decoration: underline;">4.1 TRADER TOPICS:</span>
<strong>SEVERAL WAYS TO OVERCOME A TRADING BURNOUT:</strong>

Forex trading may seem like an easy job to outsiders. To them, all a Forex trader does is sit in front of a computer, read a bunch of news articles, put up some lines on a chart, and then money will magically appear.

But every trader will tell you that is not the case. Every single time a trader goes on his trading platform, he knows that he will be exposed to a variety of stressful situations. This makes Forex traders very susceptible to what I call “mental burnout.” This pertains to the collapse of the mind due to overwork or stress.

Mental burnout can be triggered by many factors like overtrading, extreme market conditions, unrealistic expectations, and of course, losses.

Mental burnout is indeed a terrible thing as it interferes greatly with trading performance. If you want to find out whether you are undergoing or about to undergo a mental burnout, then keep on reading.

The first thing you must understand about mental burnout is that, typically, there is not one single event that can trigger it. It is a gradual process that happens over a long period of time. Burnout is also very broad, as it doesn’t only affect one part of your life. It can manifest itself in school, at work, in your relationships, and sometimes even affect the burnout victim physically.

Burnout can sneak up on you without notice, so it’s very important to pay attention to the early warning signs. Below are a few questions for you to ask yourself to see if you are about to burn out or are already experiencing burn out. The more times you answer “Yes”, the more likely you are to experience burnout:
<ul>
	<li>Are you beginning to question why you should care about your trade rules?</li>
	<li>Even with proper diet and fitness habits, are you having frequent migraines, muscle aches, and sickness?</li>
	<li>Do you feel self-doubt?</li>
	<li>Do you feel helpless, trapped and unmotivated?</li>
	<li>Do you hold off in closing a losing trade even though you know it’s already doomed?</li>
	<li>Have you started to eat more, take drugs or consume more alcohol than usual?</li>
	<li>Do you feel angry towards others for the smallest reasons?</li>
</ul>
If you feel that these warning signs apply to you, here are some tips that might help you recover from a trading burnout.

1: TAKE A STEP BACK:

When you are feeling more stressed about your trading than usual, you run the risk of making things worse if you force yourself to trade more and work harder. Taking a moment to unwind could help you clear your mind and make it easier for you to focus later on.

2: ASK FOR HELP:

More often than not, trying to overcome a burnout on your own can result in twice the pressure you already feel. In this case, there is nothing wrong with consulting a friend or even a psychological counselor. After all, it’s possible that burnout might be a result of a different concern other than trading and it is best to isolate which problem you really need to work on.

3: TAKE CONTROL:

One of the major causes of burnout is the perceived loss of control over a situation, which is something that traders could be prone to given the market’s dynamic nature. When you feel this kind of anxiety when trading, try to regain control by setting simpler goals. These can be in the form of managing your time wisely, updating you trade journal regularly, or developing a trading plan and sticking to it.

4: REMEMBER THE WARNING SIGNS OF BURNOUT

Simply go through the list of questions above and make sure to take it easy with your trading when you answer “Yes” more than a couple of times. Also take note of the usual factors that trigger a burnout for you and try to work your way around those problems.

5: RECALL THE FEELING YOU HAD WHEN YOU FIRST STARTED TRADING:

Do you remember that light bulb moment when you first understood how fundamental and technical analysis made sense? Did you fell giddy when you placed your very first trade? Use that excitement you felt when you first started trading to renew your enthusiasm for the craft. This way, you will be able to focus more on the positive aspects and less on the stressful ones.

6: FIND A TRADING BUDDY or BOUNCE IDEAS OFF A CLOSE FRIEND:

Instead of holding hands and cursing the Forex market, share your trading thoughts with your buddy instead. He might be able to help you determine your common mistakes and correct them, allowing you to avoid stress from these problems down the line.

If you do not have a trading buddy, use your closest friend to talk to, sometimes this will reason matters out.

7: TRY AND SPOIL YOURSELF:

By this I don’t exactly mean having a relaxing massage or getting your nails done.

We all have our own ways of unwinding – be it through a beach vacation or a few rounds of golf – it is important to know what works for you and then do it. As much as I know you love trading, make sure you also do something else that you enjoy on a regular basis to avoid burnout.

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

<strong>RADAR TRADES:</strong>

RT219
EUR/NZD
Long
Cost Average: 1.5930
Stop at: 1.5000
Limit at: 1.6440
Closing Price: 1.5712
Current Position (Profit / Loss): -218 pips
(This trade is hedged from -100 pips)

RT222
USD/CAD
Long
Cost Average: 1.1260
Stop at: 1.1180
Limit at: 1.1500
Closing Price: 1.1231
Current Position (Profit / Loss): -29 pips

<strong>FLASH TRADES:</strong>

FT230
EUR/CHF
Long
Cost Average at: 1.2040
Stop at 1.1930
Limit at 1.2500
Closing Price: 1.2013
Current Profit / Loss Position: -27 pips

FT245
EUR/USD
Short
Cost Average at: 1.2381
Stop at 1.2480
Limit at 1.1860
Closing Price: 1.2386
Current Profit / Loss Position: -5 pips

FT246
USD/CHF
Long
Cost Average at: 0.9703
Stop at 0.9630
Limit at 0.9950
Closing Price: 0.9696
Current Profit / Loss Position: -7 pips

FT247
GBP/USD
Short
Cost Average at: 1.5649
Stop at 1.5750
Limit at 1.5450
Closing Price: 1.5651
Current Profit / Loss Position: -2 pips

<strong>FUNDAMENTAL TRADES:</strong>

FUN68
AUD/USD
Short
Cost Average: 0.8670
Stop Loss at: 0.8750
Limit At 0.8000
Closing Price: 0.8667
Current Profit / Loss Position: +3 pips

FUN70
NZD/USD
Short
Cost Average: 0.7880
Stop Loss at: 0.7960
Limit At 0.7000
Closing Price: 0.7876
Current Profit / Loss Position: +4 pips

FUN72
GBP/NZD
Long
Cost Average: 1.9950
Stop Loss at: 1.9000
Limit At 2.0500
Closing Price: 1.9857
Current Profit / Loss Position: -93 pips
(This trade has hedging in place from -100 pips)

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

I am in a number of LIVE trades at the moment and to add further risk does not sit well. There is one pair with a limit order at my broker GBP/USD (RT220) this is confirmed below, plus a trade involving the USD/JPY. This is not with my broker yet.

I will be actively looking again early next week to add further positions. I am trying to get a better feel on RISK ON / RISK OFF so that I can attack more commodity cross rates. However, please bear in mind I am currently long both the EUR/NZD and GBP/NZD and they are presently losing money although I have hedged to manage manage both of them.

I will require a few sessions under my belt next week to re-assess the situation.

RT220
GBP/USD
Short at 1.5800
Stop Loss at: 1.5860
Limit at: 1.5450

PLUS:

USD/JPY
Long at 117.10
Stop at 116.40
Limit at 120.00

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

The following currency pairs have Short Term (DAILY), Medium Term (WEEKLY) and Long Term (MONTHLY) charts all trending in the same direction.

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

USD/CHF
EUR/GBP
AUD/JPY
CAD/JPY
USD/DKK
USD/NOK
USD/SEK
EUR/SEK

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

EUR/USD
GBP/USD
EUR/CAD
GBP/CAD
EUR/AUD<strong> </strong>
<ol start="5">
	<li><span style="font-size: 12pt;"><strong> LOOKING FORWARD – THE WEEK AHEAD IN FX:</strong></span></li>
</ol>
<span style="font-size: 12pt;"><strong>THE VIEW FROM MY TRADING DESK:</strong></span>

<span style="text-decoration: underline;">5.1 THE KEY SUPPORT &amp; RESISTANCE LEVELS WITH THE USD MAJORS<strong>:</strong></span>

<strong>EUR/USD: Closing Price 1.2386.</strong> Some excellent jawboning from Mario Draghi has sent this pair lower. The big question now is of course, when and where will it stop. Immediate support and resistance that I am looking at is 1.2357 and 1.2420.<strong> </strong>

<strong>GBP/USD: Closing Price 1.5651</strong>. This pair has really held up well. There was really good CPi and Retail Sales data earlier last week and this has kept the cable well bid. The EUR effect is now in play and I feel that a downside move should not be ruled out. The immediate support level to look at is 1.5600. Resistance is good at 1.5735.

<strong>AUD/USD: Closing Price 0.8667</strong>. The PBOC interest rate cut screwed with this pair yesterday. What was a nice pattern moving lower sprung up like a salmon. It spent most of yesterday moving back into the trend set by RBA Governor Stevens earlier in the week. Support is good at 0.8650 and resistance at 0.8780.

<strong>NZD/USD: Closing Price 0.7876</strong>. This has been a painful pair to trade this past week. Poor Milk auction prices saw it collapse earlier in the week only to see it bounce back over the following couple of sessions. I am currently short this pair and long the EUR/NZD and GBP/NZD so at the moment my largest trading position is set around the Kiwi. Support at 0.8800 is good and resistance at 0.7960 is also strong.

<strong>USD/CAD: Closing Price 1.1231.</strong> On the back of good CPi data yesterday it looks like we saw a false breakdown with this pair as it recovered handsomely off its lows below 1.1200. Support is at 1.1180 and resistance at 1.1300.

<strong>USD/CHF: Closing Price 0.9696</strong>. There is a huge amount of pressure on this pair with the EUR/CHF and GOLD referendum taking place later this month in Switzerland. Breaking out will be a problem with this data hanging over this pair. However, I am long…. and, in a small enough trade not to cause RISK concerns etc. Support is at 0.9630 and resistance 0.9740.<strong> </strong>

<strong>USD/JPY: Closing Price 117.80. </strong>Wow, the run higher continues with the JPY as central bank policy from the BOJ continues to manipulate its true value. It hit 119.00 earlier last week and fell back sharply to 118.00. It is struggling to maintain 118.00 at the moment, but it is just a matter of time before it leaps forward again. Support is at 117.40 and resistance at 118.35.<strong> </strong>

<span style="text-decoration: underline;">5.2 MAJOR FOREX NEWS THIS WEEK THAT INTERESTS ME:</span>

SUNDAY: N/A.

MONDAY: EUR – German Ifo Business Climate.
MONDAY: JPY – BOJ Kuroda speaks (twice).

TUESDAY: CAD – Retail Sales.
TUESDAY: USD – Preliminary GDP &amp; Consumer Confidence.

WEDNESDAY: NZD – Trade Balance.

THURSDAY: NZD – ANZ Business Confidence.

FRIDAY: EUR – CPi Flash Estimates.
FRIDAY: CAD – GDP.

&nbsp;
<ol start="6">
	<li><span style="font-size: 12pt;"><strong> ODDS AND ENDS:</strong></span></li>
</ol>
<span style="text-decoration: underline;"><span style="font-size: 10pt;">6.1 SUBSCRIBING TO THE “FREE VERSION” OF THE WEEKLY FX DRIVE THRU:</span></span>

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&nbsp;

<span style="text-decoration: underline;">6.2 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.

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<strong> </strong><strong> </strong>
<ol start="7">
	<li><span style="font-size: 12pt;"><strong> FINAL THOUGHTS:</strong></span></li>
</ol>
Not as heavy a trading week coming up this week compared to last week.

We are at yet another set of crossroads. The USD (DXY) started to move to the upper area of its range and is poised for a break out. Just remember it could be a false breakout, so do not get too heavy into trades. Keep your POSITION SIZING inside your RISK MANAGEMENT levels.

If you recall, we could name 2014 the year of the false breakout. For months we seemed to be penned in by a range bound market and every time we thought that a currency had broken free it was smacked back inside the range very quickly.

Longevity in Forex trading is achieved by trading with smaller position sizes to establish positions and then by adding at strategic Fibonacci or pivot point levels to enable you to maximize your profitability from trades. It is basically, you versus the world. If you view it that way you will have good DISCIPLINES and excellent MENTAL CAPACITY.

Just remember; always use the RISK MANAGEMENT principles outlined in the PREMIUM SERVICE web site to ensure that you do not over-stretch your Forex account. To find this go to the EDUCATION tab and click on the TRADING ESSENTIALS section. Longevity in the Forex market is only achieved through strong TRADING DISCIPLINES that include effective and strategic POSITION SIZING.

Good luck this week and always manage your risk.

Scott Pickering
The Pip Accumulator
Saturday November 22nd 201

EMAIL / FOLLOW ME AT:
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Twitter: @pipaccumulator
Twitter: @ThePremService
Google+/scottpickering

<strong>DISCLAIMER:</strong>

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