(8484,1,'2016-10-15 11:44:05','2016-10-15 16:44:05','<ol>\r\n 	<li><strong>INTRODUCTION:</strong></li>\r\n</ol>\r\nI have made one or two structural changes to my blog this week. I am finding that with increasing numbers of subscribers to the PREMIUM SERVICE my administration time is increasing. This is eating into my sleep time and the knock-on effect is that the 7/8 hours that the blog requires to write and the administration involved in posting it takes, needs to be reduced by a couple of hours at least. What great problems to have… not too sure about the lack of sleep but increasing subscriber numbers is great news.\r\n\r\nOne thing increased subscribers brings in is great interaction. People/Traders subscribe for a multitude of reasons; to improve trade entries / exits, restore self-belief / confidence, observe another traders thoughts / views on the market and get a better understanding of RISK MANAGEMENT, POSITION SIZING, TRADE PLANS and how to survive the markets and have trading longevity… amongst other factors.\r\n\r\nIt would be true to say that many of the new subscribers joining from early September had been “chopped up” in the summer trading chop fest. To call the summer a range trading environment is probably accurate but it was more than that. It was a highly volatile market at times and whilst we had an overall trading range we had mini ranges that were broken that were then noted as false breakouts and breakdowns. The Commodity currencies AUD, NZD and CAD lead the market with this activity. This cut up a lot of traders. It was purely a scalper market. To have longer-term trades was the answer but with smaller position sizes to enable wider stops to be put in place. At least that was my solution.\r\n\r\nAdded to this overview, extremely thin market participation was in play with very low liquidity, which manifested itself recently in Asian trading with the cable crash. This occurred away from the summer months. It just shows how Forex trading in the background is evolving. Remember throughout 2015 -2016 the major banks have been reducing FX exposure due to reduced profitability and volatility.\r\n\r\nBrokers are increasing margin requirements every time that there is a major geopolitical event (BREXIT and now the U.S. Presidential Election). Since the CHF PEG REMOVAL, brokers have struggled, in many cases to exist with lower volumes and acquisitions have taken place. Regulations have tightened. Forex trading is going through a lot of changes.\r\n\r\nI still have people talk to me about ROBOT trading. My answer has not altered. If these robots were so good and did what is claimed, do you not think that the banks would have bought them? Because, let’s face facts, they are looking for the slightest excuse to sack hundreds of analysts and traders worldwide. That just has NOT happened. You need instinct to trade but at the same time you need to trade without emotion.\r\n\r\nBack on track.\r\n\r\nI am not a gambler. I am probably too cautious with my trading. I miss lots of trades because they do not meet my chosen entry levels. I constantly adapt my trading style to what I believe the market is giving me.\r\n\r\nMany traders are lured into Forex Trading by the promises of quick and easy financial gains. In most of these cases this is known as gambling. That is why I removed the trial period from the PREMIUM SERVICE. All I attracted was gamblers looking for 20 trades a day, that they would ignore RISK MANAGEMENT on and OVERSIZE their trade positions.\r\n\r\nI view myself as a RISK MANAGER. I will have as many as 20 trades open at any one time, but many of these will be small positions with wider stops looking for a move.\r\n\r\nI have a PLAN and I trade my PLAN. I wait for the trades to come to me rather than chase. Trading is simple, repetitive, and one could say at times quite boring. It is above all else applying DISCIPLINE.\r\n\r\nThe one constant in Forex Trading however is that the markets are continually evolving and it is how we as traders move with the markets as they change that matters. The best example I can give of a changing market environment is Central Bank Monetary Policy. Most Central Banks have lost credibility with the markets. This is huge news. We have still to feel the ramifications of this in my opinion. Even the FED has lost credibility in my opinion. There will be a Forex equivalent of Tsunami’s to regain this credibility. Watch this space.\r\n\r\nMoving on…\r\n\r\nJust a quick reminder; each month, I am giving away a FREE PREMIUM SERVICE 4-week subscription. This gives the winner 100% access to the PREMIUM SERVICE website and ALL my PREMIUM SERVICE communications from my suggested trade set-ups to market commentaries and my thoughts.\r\n\r\nTo stand a chance of being the next subscription winner, you need to subscribe to receive this free blog via my website <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a><strong>  </strong>\r\n\r\nYou are automatically entered into a free monthly draw, once you’ve subscribed. Each month one lucky blog subscriber will receive a free subscription to the PREMIUM SERVICE.\r\n\r\n<strong> </strong>\r\n<ol start=\"2\">\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 the various trade styles plus 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 credit card.\r\n\r\n&nbsp;\r\n\r\n<u>PREMIUM SERVICE SUBSCRIPTION COSTS:</u>\r\n\r\nDetails of features and benefits of a PREMIUM SERVICE subscription can be found on my website landing page at <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a> under the dropdown tab at the top of the page entitled HISTORY &amp; PERFORMANCE OF THE PREMIUM SERVICE. To subscribe follow the SUBSCRIBE HERE tab.\r\n\r\nPREMIUM SERVICE subscription costs are as follows: -\r\n\r\nCAD$240.00 - 4 weeks (1 month)\r\nCAD$500.00 - 10 weeks (3 months)\r\nCAD$750.00 - 20 weeks (6 months)\r\nCAD$1,250.00 - 40 weeks (12 months)\r\n<u>PLUS</u>: Existing PLATINUM MEMBERS (annual subscribers) can re-subscribe for a further 12 months for CAD$1,000.00\r\n\r\nI work for about 40 weeks a year. Subscriptions are based on 40 published blogs of the WEEKLY FX DRIVE THRU per year. For the remaining 10 weeks, I am around tweeting, posting and managing existing LIVE trades, although my market activity is reduced.\r\n\r\n<u> </u>\r\n\r\n<u>PREMIUM SERVICE PERFORMANCE THIS MONTH &amp; YEAR TO DATE:</u>\r\n\r\nI am not saying that posting a monthly loss in trading is a “good thing” but, after posting a small loss in September, this month has been a really great response. My annual 10,000 pip objective has now been passed and at the close last Friday (14<sup>th</sup>) the year to date pip total for the PREMIUM SERVICE was 11,033 pips.\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/10/PS-PREF-TO-15102106.png\"><img class=\"aligncenter size-large wp-image-8475\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/10/PS-PREF-TO-15102106-808x1024.png\" alt=\"ps-pref-to-15102106\" width=\"808\" height=\"1024\" /></a>\r\n\r\n&nbsp;\r\n\r\nObviously, the year is not yet over and the performance can grow further or fall back a little. However, in 2014 and 2015 my 10,000 pip target was achieved and this year baring a catastrophe all should be good.\r\n\r\nLooking at the chart above here are a few takeaways: -\r\n<ol>\r\n 	<li>Not everyone can trade with accounts with balances over $10,000 or $100,000.</li>\r\n 	<li>Whatever lot style you trade from MICRO through to STANDARD lots you can still make money.</li>\r\n 	<li>Even if you traded 3 x micro lots at $0.30 cents cost per trade, after paying a PREMIUM SERVICE subscription, this year to date you would have an additional $2,359.90 in your trading account. This could be done with an account with a starting balance of $5,000.00. At the moment a net income after costs of almost 50% could have been achieved.</li>\r\n 	<li>I trade a very long hours and I am never far from a trading device. I add and cover positions at all hours, therefore you must consider this when looking at your projected performance. Most of my trade entries are via limit orders but my exits can be at any time.</li>\r\n 	<li>To trade with MINI lots, I would say that given the number of trades that can be “LIVE” at any one time, an account of between $10,000 and $12,000 should be used as a minimum to trade 3 lots a trade.</li>\r\n 	<li>Remember as well. If you decide to follow the PREMIUM SERVICE trade set ups, in year two (if subscribe annually) your renewal subscription is at a reduced rate, which gives you greater profitability potential moving forward.</li>\r\n</ol>\r\n&nbsp;\r\n\r\nPRESENT AND HISTORICAL QUICK PREMIUM SERVICE STATS:\r\nNET PIPS THIS MONTH SO FAR:            +2,048 pips\r\nNET PIPS 2016 TO DATE:              +11,033 pips\r\n\r\nNET PIPS 2015:       +10,686 pips\r\nNET PIPS 2014:       +11,209 pips\r\n\r\nIf you want more data or detail about the performance and the tabs on my website landing page do not answer your questions, contact me directly and I will supply the trading data you require. There are NO secrets. There are many, many spreadsheets detailing performance trade by trade and by trade and by trading style, way too many to place in this blog. If you are interested in the PREMIUM SERVICE and want more information, all you have to do is ask.\r\n\r\n<strong> </strong>\r\n<ol start=\"3\">\r\n 	<li><strong> LOOKING BACKWARDS: THE FX MARKET PLACE</strong></li>\r\n</ol>\r\n<strong>LAST WEEK’S FOREX and ECONOMIC NEWS – MY VIEWS:</strong>\r\n\r\nTHE FOMC MINUTES:\r\n<p style=\"text-align: center;\"><strong>DICTATORSHIP OR COMMITTEE?</strong></p>\r\nThe biggest news for me last week was the release of the FOMC Meeting Minutes from the last FED meeting. What did we learn?\r\n\r\nFrom my perspective bugger all.\r\n\r\nMy view has not altered for months now, in fact not since September 2015 when Yellen had the chance to increase rates and dithered. She took the last chance saloon rise in December 2015 only to save face and retain credibility with the markets.\r\n\r\nThis year she has dithered and dithered and just when you think she can dither no more… she does.\r\n\r\nWe are therefore looking at yet another December rate hike.\r\n\r\nI do not want to sound like a broken record, but louder than loud “Americans” are spouting off that the rest of the world is up sh*t creek without a paddle and that the US economy is strong. Actions speak louder than words. The FED wants 4 aces in the hand or a running flush before the dovish influence in the FOMC yields.\r\n\r\nEconomies always have mixed data, and markets are so interrelated nowadays that you have to accept this as fact. The FOMC doves want a perfect run. It is so easy to be a dove. You can always find something not to move forward.\r\n\r\nHowever there comes a point when this is seen as dithering and a credibility issue. We are past this in my opinion.\r\n\r\nFrom last week’s minutes we learnt that the FED is as divided as the US political parties are in Washington. The bookies are out stating an 80% chance of a rate hike in December and about 15% just prior to Presidential election in November.\r\n\r\nWho knows. If Yellen and co. say no to either, the USD will be destroyed and the FED’s credibility will be seriously damaged. Once again they have backed themselves into a corner entirely of their own doing.\r\n\r\nFrom a trading perspective what did we gain from the minutes?\r\n\r\nGoing into the actual meeting I would have said that there were more voting members that were HAWKISH – Fischer, Dudley, Powell, Mester, George and Rosengren. The DOVES were – Yellen, Brainard and Tarullo, with Bullard being neutral in my opinion.\r\n<p style=\"text-align: center;\"><strong>That\'s 6 HAWKS; 3 DOVES and 1 on the fence.</strong></p>\r\n<p style=\"text-align: center;\"><strong>When I worked in a multi-national company, that would have been seen as a vote for a hike!!</strong></p>\r\nIt’s pretty obvious what went on and was reflected in the minutes is that when a vote was required, although discussions were open, several members voted with Yellen instead of their opinions, when getting their 15 minutes of fame on TV.\r\n\r\nAs stated earlier it is much easier being dove.\r\n\r\nGiven the facts in place right now – I think it\'s a “buy the USD on the dips” market.\r\n\r\n&nbsp;\r\n\r\nU.S. RETAIL SALES:\r\n\r\nThis was a beat and should set up more pro rate hike sound bytes for the coming weeks.\r\n\r\n&nbsp;\r\n\r\nCHINA EXPORTS:\r\n\r\nSeptember 2016 versus September 2015 shows a mammoth 10% reduction in China export numbers. Imports are declining. The trade surplus fell $42 billion.\r\n\r\nWhat can we take away from this? In my opinion it places another question mark over China GDP growth.\r\n\r\nFor me this is a short the NZD trade.\r\n\r\n&nbsp;\r\n\r\nOPEC and the OIL PRODUCTION LIMITS:\r\n\r\nThis was never far out of the news cycle last week. Production output ceilings, are you kidding me… from OPEC? give me a break! … Think about it who is going to measure this? In the past these have failed miserably. Why will it be different this time? It won’t.\r\n\r\nOPEC are being cute whores as they say in Ireland, they are raising media awareness and speculation of a production ceiling. This has inflated the Oil price and it remains above $50.00 per barrel. Job done so far.\r\n\r\nNovember 30<sup>th</sup> 2016 is the date we receive all the data about who is maxing out and who isn’t. I am very, very skeptical about this. Let’s wait and see.\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\nTHE U.S. PRESIDENTIAL ELECTION:\r\n\r\nUnbelievable. It\'s a reality show. If I ever hear an American tell me their political system is to be copied because it is so perfect, I will play them the recording of last Sundays debate between DONALD THE OCTOPUS and CROOKED HILLARY. What a shambles. The markets appear to love Clinton on the basis that she is a known entity, whether effective or not, over Trump who is a loose cannon amongst other things.\r\n\r\nIt is incredible, Clinton is going to tie Wall Street in knots of more layers of bureaucracy and legislation and the markets fear Trump so much, this is the preferred option.\r\n\r\nThis is such a shambles, I have read that brokers are tightening up margins ahead of November 8<sup>th</sup> in case the outcome is closer than the opinion polls are currently suggesting.\r\n\r\n&nbsp;\r\n\r\nBREXIT:\r\n\r\nTheresa May backed down only 72 hours after the Tory party conference to announce that parliament will debate and vote on the BREXIT conditions she hopes to negotiate out of the EUROPEAN UNION.\r\n\r\nIs it just me…?\r\n\r\nIsn’t she going to lay down in public debate, noted in “the Hansard” for the whole of the EU to see the British start position and hopefully the fallback position that would be acceptable to MP’s before any negotiations actually start?\r\n\r\nGreat job… what a fecking joke!!\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n<strong>THIS WEEK’S FOREX and ECONOMIC NEWS – MY VIEWS:</strong>\r\n\r\n<u>THIS WEEK’S FOREX NEWS THAT INTERESTS ME:</u>\r\n\r\n(There are many more news items related to the Forex Market other than the ones listed below. These are the ones that interest me. You can go to <a href=\"http://www.forexfactory.com\">www.forexfactory.com</a> and <a href=\"http://www.tradingeconomics.com\">www.tradingeconomics.com</a> for a more comprehensive lists of all news events that are Forex related).\r\n\r\nSUNDAY: N/A.\r\n\r\nMONDAY: EUR – Mario Draghi (ECB) speaks.\r\nMONDAY: AUD -  Lowe (RBA) speaks &amp; RBA Monetary Policy Meeting minutes.\r\nMONDAY: NZD – CPi.\r\n\r\nTUESDAY: GBP - CPi.\r\nTUESDAY: USD – CPi and core CPi.\r\nTUESDAY: NZD – GDT (Dairy Auction results).\r\nTUESDAY: CNY – GDP and Industrial Production.\r\n\r\nWEDNESDAY: GBP – Employment numbers.\r\nWEDNESDAY: CAD – BOC Rate Statement and Press Conference.\r\nWEDNESDAY: AUD – Employment numbers.\r\n\r\nTHURSDAY: GBP – Retail Sales.\r\nTHURSDAY: EUR – ECB Press Conference and Interest Rate Statement.\r\nFRIDAY: CAD – CPi and core CPi data.\r\n\r\nIt\'s a big week for news. An ECB Press conference with employment numbers from the UK and Australia.\r\n\r\nThere is a nice mix of data from all over.\r\n\r\nThe standout for me is the BOC. I wrote last week about the housing bubble in the Canadian economy. House prices are falling back, probably at a greater rate than the government and the BOC would like as this will affect Retail Sales and Consumer Confidence if people believe that the value of their homes is pulling back too fast and too far.\r\n\r\nThe BOC are always reactionary and well behind the curve. It has to be a full on problem before they act. So if they were to cut interest rates this coming week it would indicate that things must be worse than we know and than the BOC are admitting to.\r\n\r\nAlso expect U.S. Presidential news to add some spice. The third and final debate happens this week.\r\n\r\nI would expect BREXIT news to remain near the top of the news pile as we move forward. The trigger end date of March 2017 may be an anti-climax at the end of the day, however, until the negotiations with the EU are completed and signed off, uncertainty will rule the day.<strong> </strong>\r\n\r\n<strong> </strong>\r\n<ol start=\"4\">\r\n 	<li><strong> PREMIUM SERVICE SUBSCRIBER EXCLUSIVE CONTENT AREA:</strong></li>\r\n</ol>\r\nTRADING REVIEW:\r\n\r\nAnother 1,000 pips added last week. Looking forward, we have several key events on the calendar that will create havoc with the FX market so for the next few sessions I will probably gather data and make decisions with as many facts as possible.\r\n\r\nI have all but given up on day trades at the moment, just the odd one here and there. The chop fest that has been a feature for the past several months will continue through to the end of the year in my opinion.\r\n\r\nWe are really close to some exceptional breakout moves but I am more and more concerned that because of the geopolitical news hanging over the market, we will not see the breakouts just false moves then quick retracements to place us back in the range.\r\n\r\nThe USD/CHF looks like a run to parity and beyond is on the cards, but will it actually happen? It really depends upon the price action with the EUR/USD. I had expected a full-on breakdown through 1.1000 to have stuck by now. The single currency remains well bid, no matter how strong you believe the DXY is.\r\n\r\nThe USD/JPY, I feel has a 100.00 run in it. If this pair weakened substantially this would in turn help the DXY move upwards. The USD/CHF would hit parity and the EUR/USD would be testing 1.0750.\r\n\r\nGBP/USD to 1.2000 or even 1.1500? We are consolidating at the moment. Remember, we are at 30 year lows, so we should consolidate before resuming the trend lower. Whilst we have uncertainty the move should in my opinion be lower.\r\n\r\nThe Head and Shoulders pattern with the NZD/USD is frustrating to play out. The breakout higher with the AUD/NZD is stalling because the NZD/USD just will not fall. I was hoping that the poor China export data would seal its fate… think again!!\r\n\r\nEverything is inter-linked and correlated. As I have written many times before correlations do matter with regards to Forex.\r\n\r\n&nbsp;\r\n\r\nADDITIONAL BROKER ACCOUNTS:\r\n\r\nAs we approach the end of 2016, if any of you are considering adding an additional broker or two to keep PREMIUM SERVICE trades separate or maybe break down into TRADE STYLES, please note that as we approach the end of year, the deals, offers etc. that brokers will be using to attract new clients will intensify.\r\n\r\nIf you are considering such a move please contact me so I can advise which of my brokers on my landing page are offering what.\r\n\r\nVANTAGE FX for example are charging nothing to deposit money into your broker account, whether the transfer in is by credit card or via bank transfer. My account manager David Bily is probably one of the best account managers that I have come across. VANTAGE FX also gives you an edge with 5PM eastern NZD news.\r\n\r\n&nbsp;\r\n\r\nREVISED POSITION SIZING:\r\n\r\nI attach again the revised POSITION SIZING rules that I am using into the end of 2016.\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/10/RISK-POSITION-SIZING-08102016.png\"><img class=\"aligncenter size-large wp-image-8430\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/10/RISK-POSITION-SIZING-08102016-1024x653.png\" alt=\"risk-position-sizing-08102016\" width=\"1024\" height=\"653\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\nPERISCOPE:\r\n\r\nFinally, it is my intention to conduct a once a week review LIVE via the PERISCOPE app. I want to add more value to your subscription and build our relationships.\r\n\r\nInitially, these sessions will be for PREMIUM SERVICE subscribers only. I am looking into a stand for my iPhone so that I can point it at my screens when I am at play so to speak.\r\n\r\nTo join the sessions you need to link to @ThePremService on PERISCOPE and I need to follow you back to allow access.\r\n\r\nI will email when I have more information (I may have the above arseways!) and I have the iPhone stand in my possession.\r\n\r\nMy thoughts are to probably do this on a Monday night. If you have ideas for the structure do not hesitate to let me know your thoughts. I believe this will be good for both market overviews and fundamentals.\r\n\r\n<strong> </strong>\r\n\r\n<strong>TRADES REVIEW:</strong>\r\n\r\nThe excel spreadsheets below details current LIVE and pending LIMIT ORDER trades: -\r\n\r\n<strong> <a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/10/LIVE-TRADES-15102016.png\"><img class=\"aligncenter size-large wp-image-8474\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/10/LIVE-TRADES-15102016-797x1024.png\" alt=\"live-trades-15102016\" width=\"797\" height=\"1024\" /></a></strong>\r\n\r\n<strong> </strong>\r\n\r\n<strong> <a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/10/LIMIT-ORDERS-15102016.png\"><img class=\"aligncenter size-large wp-image-8473\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/10/LIMIT-ORDERS-15102016-708x1024.png\" alt=\"limit-orders-15102016\" width=\"708\" height=\"1024\" /></a></strong>\r\n\r\n<strong> </strong>\r\n<ol start=\"5\">\r\n 	<li><strong> LOOKING FORWARDS: THE USD MAJORS MY THOUGHTS and VIEWS:</strong></li>\r\n</ol>\r\n<strong> </strong>\r\n\r\n<u>THE USD MAJORS – MY THOUGHTS (A REVIEW): </u>\r\n\r\n(In this section I have as usual kept my charts as minimalist as possible. With regards to charting in my opinion less is more!! I hope that they are clear. All readers regardless of level of experience should be able to follow my thoughts from my comments to the levels on the charts with ease)\r\n\r\nMy comments are contained on the charts.\r\n\r\nEUR/USD - Weekly Closing Price: 1.0971\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/10/EURUSD-DAILY-15102016.png\"><img class=\"aligncenter size-large wp-image-8477\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/10/EURUSD-DAILY-15102016-1024x477.png\" alt=\"eurusd-daily-15102016\" width=\"1024\" height=\"477\" /></a>\r\n\r\nGBP/USD - Weekly Closing Price: 1.2188\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/10/GBPUSD-DAILY-15102016.png\"><img class=\"aligncenter size-large wp-image-8478\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/10/GBPUSD-DAILY-15102016-1024x477.png\" alt=\"gbpusd-daily-15102016\" width=\"1024\" height=\"477\" /></a>\r\n\r\nAUD/USD - Weekly Closing Price: 0.7615\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/10/AUDUSD-DAILY-15102016.png\"><img class=\"aligncenter size-large wp-image-8476\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/10/AUDUSD-DAILY-15102016-1024x477.png\" alt=\"audusd-daily-15102016\" width=\"1024\" height=\"477\" /></a>\r\n\r\nNZD/USD - Weekly Closing Price: 0.7085\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/10/NZDUSD-DAILY-15102016.png\"><img class=\"aligncenter size-large wp-image-8479\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/10/NZDUSD-DAILY-15102016-1024x477.png\" alt=\"nzdusd-daily-15102016\" width=\"1024\" height=\"477\" /></a>\r\n\r\nUSD/CAD - Weekly Closing Price: 1.3142\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/10/USDCAD-DAILY-15102016.png\"><img class=\"aligncenter size-large wp-image-8480\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/10/USDCAD-DAILY-15102016-1024x477.png\" alt=\"usdcad-daily-15102016\" width=\"1024\" height=\"477\" /></a>\r\n\r\nUSD/CHF - Weekly Closing Price: 0.9903\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/10/USDCHF-DAILY-15102016.png\"><img class=\"aligncenter size-large wp-image-8481\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/10/USDCHF-DAILY-15102016-1024x477.png\" alt=\"usdchf-daily-15102016\" width=\"1024\" height=\"477\" /></a>\r\n\r\nUSD/JPY - Weekly Closing Price: 104.17\r\n\r\n<u><a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/10/USDJPY-DAILY-15102016.png\"><img class=\"aligncenter size-large wp-image-8482\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/10/USDJPY-DAILY-15102016-1024x477.png\" alt=\"usdjpy-daily-15102016\" width=\"1024\" height=\"477\" /></a></u>\r\n\r\n<u> </u>\r\n\r\n<u> </u>\r\n<ol start=\"6\">\r\n 	<li><strong> MY CLOSING THOUGHTS:</strong></li>\r\n</ol>\r\nWhatever happens this week do not get suckered into trades. Plan your trades and trade your plan. Wait for the trades to come to you. This market is 100% unforgiving and can easily wipe out longs and shorts in the market in less than a trading session.\r\n\r\nThere is a lot of geopolitical news hanging over the markets. Remember no-one (me included) has a clue about what is going to happen and why. It’s all opinions until we have facts and even then the markets can still go off in the wrong direction based on fundamentals.\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,\r\n\r\nScott Pickering\r\nThe Pip Accumulator\r\n<a href=\"http://weeklyfxdrivethru.com/disclaimer/\">http://weeklyfxdrivethru.com/disclaimer/\r\n</a>DATE: 15th October 2016\r\nBLOG VERSION: #115 PREMIUM SERVICE','FED MINUTES: DICTATORSHIP or COMMITTEE?','','inherit','closed','closed','','8483-revision-v1','','','2016-10-15 11:44:05','2016-10-15 16:44:05','',8483,'http://weeklyfxdrivethru.com/8483-revision-v1/',0,'revision','',0),(8489,1,'2016-10-15 12:10:03','2016-10-15 17:10:03','<strong> </strong>\r\n<ol>\r\n 	<li><strong> INTRODUCTION:</strong></li>\r\n</ol>\r\nI have made one or two structural changes to my blog this week. I am finding that with increasing numbers of subscribers to the PREMIUM SERVICE my administration time is increasing. This is eating into my sleep time and the knock-on effect is that the 7/8 hours that the blog requires to write and the administration involved in posting it takes, needs to be reduced by a couple of hours at least. What great problems to have… not too sure about the lack of sleep but increasing subscriber numbers is great news.\r\n\r\nOne thing increased subscribers brings in is great interaction. People/Traders subscribe for a multitude of reasons; to improve trade entries / exits, restore self-belief / confidence, observe another traders thoughts / views on the market and get a better understanding of RISK MANAGEMENT, POSITION SIZING, TRADE PLANS and how to survive the markets and have trading longevity… amongst other factors.\r\n\r\nIt would be true to say that many of the new subscribers joining from early September had been “chopped up” in the summer trading chop fest. To call the summer a range trading environment is probably accurate but it was more than that. It was a highly volatile market at times and whilst we had an overall trading range we had mini ranges that were broken that were then noted as false breakouts and breakdowns. The Commodity currencies AUD, NZD and CAD lead the market with this activity. This cut up a lot of traders. It was purely a scalper market. To have longer-term trades was the answer but with smaller position sizes to enable wider stops to be put in place. At least that was my solution.\r\n\r\nAdded to this overview, extremely thin market participation was in play with very low liquidity, which manifested itself recently in Asian trading with the cable crash. This occurred away from the summer months. It just shows how Forex trading in the background is evolving. Remember throughout 2015 -2016 the major banks have been reducing FX exposure due to reduced profitability and volatility.\r\n\r\nBrokers are increasing margin requirements every time that there is a major geopolitical event (BREXIT and now the U.S. Presidential Election). Since the CHF PEG REMOVAL, brokers have struggled, in many cases to exist with lower volumes and acquisitions have taken place. Regulations have tightened. Forex trading is going through a lot of changes.\r\n\r\nI still have people talk to me about ROBOT trading. My answer has not altered. If these robots were so good and did what is claimed, do you not think that the banks would have bought them? Because, let’s face facts, they are looking for the slightest excuse to sack hundreds of analysts and traders worldwide. That just has NOT happened. You need instinct to trade but at the same time you need to trade without emotion.\r\n\r\nBack on track…\r\n\r\nI am not a gambler. I am probably too cautious with my trading. I miss lots of trades because they do not meet my chosen entry levels. I constantly adapt my trading style to what I believe the market is giving me.\r\n\r\nMany traders are lured into Forex Trading by the promises of quick and easy financial gains. In most of these cases this is known as gambling. That is why I removed the trial period from the PREMIUM SERVICE. All I attracted was gamblers looking for 20 trades a day, that they would ignore RISK MANAGEMENT on and OVERSIZE their trade positions.\r\n\r\nI view myself as a RISK MANAGER. I will have as many as 20 trades open at any one time, but many of these will be small positions with wider stops looking for a move.\r\n\r\nI have a PLAN and I trade my PLAN. I wait for the trades to come to me rather than chase. Trading is simple, repetitive, and one could say at times quite boring. It is above all else applying DISCIPLINE.\r\n\r\nThe one constant in Forex Trading however is that the markets are continually evolving and it is how we as traders move with the markets as they change that matters. The best example I can give of a changing market environment is Central Bank Monetary Policy. Most Central Banks have lost credibility with the markets. This is huge news. We have still to feel the ramifications of this in my opinion. Even the FED has lost credibility in my opinion. There will be a Forex equivalent of Tsunami’s to regain this credibility. Watch this space.\r\n\r\nMoving on…\r\n\r\nJust a quick reminder; each month, I am giving away a FREE PREMIUM SERVICE 4-week subscription. This gives the winner 100% access to the PREMIUM SERVICE website and ALL my PREMIUM SERVICE communications from my suggested trade set-ups to market commentaries and my thoughts.\r\n\r\nTo stand a chance of being the next subscription winner, you need to subscribe to receive this free blog via my website <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a><strong>  </strong>\r\n\r\nYou are automatically entered into a free monthly draw, once you’ve subscribed. Each month one lucky blog subscriber will receive a free subscription to the PREMIUM SERVICE.\r\n\r\n<strong> </strong>\r\n<ol start=\"2\">\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 the various trade styles plus 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 credit card.\r\n\r\n<u> </u>\r\n<p style=\"text-align: center;\"><u>PREMIUM SERVICE SUBSCRIPTION COSTS:</u></p>\r\n<p style=\"text-align: center;\">Details of features and benefits of a PREMIUM SERVICE subscription can be found on my website landing page at <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a> under the dropdown tab at the top of the page entitled HISTORY &amp; PERFORMANCE OF THE PREMIUM SERVICE. To subscribe follow the SUBSCRIBE HERE tab.</p>\r\n<p style=\"text-align: center;\">PREMIUM SERVICE subscription costs are as follows: -</p>\r\n<p style=\"text-align: center;\">CAD$240.00 - 4 weeks (1 month)\r\nCAD$500.00 - 10 weeks (3 months)\r\nCAD$750.00 - 20 weeks (6 months)\r\nCAD$1,250.00 - 40 weeks (12 months)\r\n<u>PLUS</u>: Existing PLATINUM MEMBERS (annual subscribers) can re-subscribe for a further 12 months for CAD$1,000.00\r\n\r\nI work for about 40 weeks a year. Subscriptions are based on 40 published blogs of the WEEKLY FX DRIVE THRU per year. For the remaining 10 weeks, I am around tweeting, posting and managing existing LIVE trades, although my market activity is reduced.</p>\r\n<p style=\"text-align: center;\"></p>\r\n<u>PREMIUM SERVICE PERFORMANCE THIS MONTH &amp; YEAR TO DATE:</u>\r\n\r\nI am not saying that posting a monthly loss in trading is a “good thing” but, after posting a small loss in September, this month has been a really great response. My annual 10,000 pip objective has now been passed and at the close last Friday (14<sup>th</sup>) the year to date pip total for the PREMIUM SERVICE was 11,033 pips.\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/10/PS-PREF-TO-15102106.png\"><img class=\"aligncenter size-large wp-image-8475\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/10/PS-PREF-TO-15102106-808x1024.png\" alt=\"ps-pref-to-15102106\" width=\"808\" height=\"1024\" /></a>\r\n\r\n&nbsp;\r\n\r\nObviously, the year is not yet over and the performance can grow further or fall back a little. However, in 2014 and 2015 my 10,000 pip target was achieved and this year baring a catastrophe all should be good.\r\n\r\nLooking at the chart above here are a few takeaways: -\r\n<ol>\r\n 	<li>Not everyone can trade with accounts with balances over $10,000 or $100,000.</li>\r\n 	<li>Whatever lot style you trade from MICRO through to STANDARD lots you can still make money.</li>\r\n 	<li>Even if you traded 3 x micro lots at $0.30 cents cost per trade, after paying a PREMIUM SERVICE subscription, this year to date you would have an additional $2,359.90 in your trading account. This could be done with an account with a starting balance of $5,000.00. At the moment a net income after costs of almost 50% could have been achieved.</li>\r\n 	<li>I trade a very long hours and I am never far from a trading device. I add and cover positions at all hours, therefore you must consider this when looking at your projected performance. Most of my trade entries are via limit orders but my exits can be at any time.</li>\r\n 	<li>To trade with MINI lots, I would say that given the number of trades that can be “LIVE” at any one time, an account of between $10,000 and $12,000 should be used as a minimum to trade 3 lots a trade.</li>\r\n 	<li>Remember as well. If you decide to follow the PREMIUM SERVICE trade set ups, in year two (if subscribe annually) your renewal subscription is at a reduced rate, which gives you greater profitability potential moving forward.</li>\r\n</ol>\r\n&nbsp;\r\n<p style=\"text-align: center;\"><strong>PRESENT AND HISTORICAL QUICK PREMIUM SERVICE STATS:</strong></p>\r\n<p style=\"text-align: center;\"><strong>NET PIPS THIS MONTH SO FAR:            +2,048 pips</strong>\r\n<strong>NET PIPS 2016 TODATE:              +11,033 pips</strong></p>\r\n<p style=\"text-align: center;\"><strong>NET PIPS 2015:       +10,686 pips</strong>\r\n<strong>NET PIPS 2014:       +11,209 pips</strong></p>\r\nIf you want more data or detail about the performance and the tabs on my website landing page do not answer your questions, contact me directly and I will supply the trading data you require. There are NO secrets. There are many, many spreadsheets detailing performance trade by trade and by trade and by trading style, way too many to place in this blog. If you are interested in the PREMIUM SERVICE and want more information, all you have to do is ask.\r\n\r\n<strong> </strong>\r\n<ol start=\"3\">\r\n 	<li><strong> LOOKING BACKWARDS: THE FX MARKET PLACE</strong></li>\r\n</ol>\r\n<strong>LAST WEEK’S FOREX and ECONOMIC NEWS – MY VIEWS:</strong>\r\n\r\nTHE FOMC MINUTES:\r\n<p style=\"text-align: center;\"><strong>FED: DICTATORSHIP OR COMMITTEE?</strong></p>\r\nThe biggest news for me last week was the release of the FOMC Meeting Minutes from the last FED meeting. What did we learn?\r\n\r\nFrom my perspective bugger all.\r\n\r\nMy view has not altered for months now, in fact not since September 2015 when Yellen had the chance to increase rates and dithered. She took the last chance saloon rise in December 2015 only to save face and retain credibility with the markets.\r\n\r\nThis year she has dithered and dithered and just when you think she can dither no more… she does.\r\n\r\nWe are therefore looking at yet another December rate hike.\r\n\r\nI do not want to sound like a broken record, but louder than loud “Americans” are spouting off that the rest of the world is up sh*t creek without a paddle and that the US economy is strong. Actions speak louder than words. The FED wants 4 aces in the hand or a running flush before the dovish influence in the FOMC yields.\r\n\r\nEconomies always have mixed data, and markets are so interrelated nowadays that you have to accept this as fact. The FOMC doves want a perfect run. It is so easy to be a dove. You can always find something not to move forward.\r\n\r\nHowever there comes a point when this is seen as dithering and a credibility issue. We are past this in my opinion.\r\n\r\nFrom last week’s minutes we learnt that the FED is as divided as the US political parties are in Washington. The bookies are out stating an 80% chance of a rate hike in December and about 15% just prior to Presidential election in November.\r\n\r\nWho knows. If Yellen and co. say no to either, the USD will be destroyed and the FED’s credibility will be seriously damaged. Once again they have backed themselves into a corner entirely of their own doing.\r\n\r\nFrom a trading perspective what did we gain from the minutes?\r\n\r\nGoing into the actual meeting I would have said that there were more voting members that were HAWKISH – Fischer, Dudley, Powell, Mester, George and Rosengren. The DOVES were – Yellen, Brainard and Tarullo, with Bullard being neutral in my opinion.\r\n<p style=\"text-align: center;\"><strong>That\'s 6 HAWKS; 3 DOVES and 1 on the fence.</strong>\r\n<strong>When I worked in a multi-national company, that would have been seen as a vote for a hike!</strong></p>\r\nIt’s pretty obvious what went on and was reflected in the minutes is that when a vote was required, although discussions were open, several members voted with Yellen instead of their opinions, when getting their 15 minutes of fame on TV.\r\n\r\nAs stated earlier it is much easier being dove.\r\n\r\nGiven the facts in place right now – I think it\'s a “buy the USD on the dips” market.\r\n\r\n&nbsp;\r\n\r\nU.S. RETAIL SALES:\r\n\r\nThis was a beat and should set up more pro rate hike sound bytes for the coming weeks.\r\n\r\n&nbsp;\r\n\r\nCHINA EXPORTS:\r\n\r\nSeptember 2016 versus September 2015 shows a mammoth 10% reduction in China export numbers. Imports are declining. The trade surplus fell $42 billion.\r\n\r\nWhat can we take away from this? In my opinion it places another question mark over China GDP growth.\r\n\r\nFor me this is a short the NZD trade.\r\n\r\n&nbsp;\r\n\r\nOPEC and the OIL PRODUCTION LIMITS:\r\n\r\nThis was never far out of the news cycle last week. Production output ceilings, are you kidding me… from OPEC? give me a break! … Think about it who is going to measure this? In the past these have failed miserably. Why will it be different this time? It won’t.\r\n\r\nOPEC are being cute whores as they say in Ireland, they are raising media awareness and speculation of a production ceiling. This has inflated the Oil price and it remains above $50.00 per barrel. Job done so far.\r\n\r\nNovember 30<sup>th</sup> 2016 is the date we receive all the data about who is maxing out and who isn’t. I am very, very skeptical about this. Let’s wait and see.\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\nTHE U.S. PRESIDENTIAL ELECTION:\r\n\r\nUnbelievable. It\'s a reality show. If I ever hear an American tell me their political system is to be copied because it is so perfect, I will play them the recording of last Sundays debate between DONALD THE OCTOPUS and CROOKED HILLARY. What a shambles. The markets appear to love Clinton on the basis that she is a known entity, whether effective or not, over Trump who is a loose cannon amongst other things.\r\n\r\nIt is incredible, Clinton is going to tie Wall Street in knots of more layers of bureaucracy and legislation and the markets fear Trump so much, this is the preferred option.\r\n\r\nThis is such a shambles, I have read that brokers are tightening up margins ahead of November 8<sup>th</sup> in case the outcome is closer than the opinion polls are currently suggesting.\r\n\r\n&nbsp;\r\n\r\nBREXIT:\r\n\r\nTheresa May backed down only 72 hours after the Tory party conference to announce that parliament will debate and vote on the BREXIT conditions she hopes to negotiate out of the EUROPEAN UNION.\r\n\r\nIs it just me…?\r\n\r\nIsn’t she going to lay down in public debate, noted in “the Hansard” for the whole of the EU to see the British start position and hopefully the fallback position that would be acceptable to MP’s before any negotiations actually start?\r\n\r\nGreat job… what a fecking joke!!\r\n\r\n&nbsp;\r\n\r\n<strong>THIS WEEK’S FOREX and ECONOMIC NEWS – MY VIEWS:</strong>\r\n\r\n<u>THIS WEEK’S FOREX NEWS THAT INTERESTS ME:</u>\r\n\r\n(There are many more news items related to the Forex Market other than the ones listed below. These are the ones that interest me. You can go to <a href=\"http://www.forexfactory.com\">www.forexfactory.com</a> and <a href=\"http://www.tradingeconomics.com\">www.tradingeconomics.com</a> for a more comprehensive lists of all news events that are Forex related).\r\n\r\nSUNDAY: N/A.\r\n\r\nMONDAY: EUR – Mario Draghi (ECB) speaks.\r\nMONDAY: AUD -  Lowe (RBA) speaks &amp; RBA Monetary Policy Meeting minutes.\r\nMONDAY: NZD – CPi.\r\n\r\nTUESDAY: GBP - CPi.\r\nTUESDAY: USD – CPi and core CPi.\r\nTUESDAY: NZD – GDT (Dairy Auction results).\r\nTUESDAY: CNY – GDP and Industrial Production.\r\n\r\nWEDNESDAY: GBP – Employment numbers.\r\nWEDNESDAY: CAD – BOC Rate Statement and Press Conference.\r\nWEDNESDAY: AUD – Employment numbers.\r\n\r\nTHURSDAY: GBP – Retail Sales.\r\nTHURSDAY: EUR – ECB Press Conference and Interest Rate Statement.\r\n\r\nFRIDAY: CAD – CPi and core CPi data.\r\n\r\nIt\'s a big week for news. An ECB Press conference with employment numbers from the UK and Australia.\r\n\r\nThere is a nice mix of data from all over.\r\n\r\nThe standout for me is the BOC. I wrote last week about the housing bubble in the Canadian economy. House prices are falling back, probably at a greater rate than the government and the BOC would like as this will affect Retail Sales and Consumer Confidence if people believe that the value of their homes is pulling back too fast and too far.\r\n\r\nThe BOC are always reactionary and well behind the curve. It has to be a full on problem before they act. So if they were to cut interest rates this coming week it would indicate that things must be worse than we know and than the BOC are admitting to.\r\n\r\nAlso expect U.S. Presidential news to add some spice. The third and final debate happens this week.\r\n\r\nI would expect BREXIT news to remain near the top of the news pile as we move forward. The trigger end date of March 2017 may be an anti-climax at the end of the day, however, until the negotiations with the EU are completed and signed off, uncertainty will rule the day.\r\n\r\n<strong> </strong>\r\n<ol start=\"4\">\r\n 	<li><strong> PREMIUM SERVICE SUBSCRIBER EXCLUSIVE CONTENT AREA:</strong><strong> </strong></li>\r\n</ol>\r\n<ol start=\"5\">\r\n 	<li><strong> LOOKING FORWARDS: THE USD MAJORS MY THOUGHTS and VIEWS:</strong></li>\r\n</ol>\r\n<strong> </strong>\r\n\r\n<u>THE USD MAJORS – MY THOUGHTS (A REVIEW): </u>\r\n\r\n(In this section I have as usual kept my charts as minimalist as possible. With regards to charting in my opinion less is more!! I hope that they are clear. All readers regardless of level of experience should be able to follow my thoughts from my comments to the levels on the charts with ease)\r\n\r\nMy comments are contained on the charts.\r\n\r\nEUR/USD - Weekly Closing Price: 1.0971\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/10/EURUSD-DAILY-15102016.png\"><img class=\"aligncenter size-large wp-image-8477\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/10/EURUSD-DAILY-15102016-1024x477.png\" alt=\"eurusd-daily-15102016\" width=\"1024\" height=\"477\" /></a>\r\n\r\nGBP/USD - Weekly Closing Price: 1.2188\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/10/GBPUSD-DAILY-15102016.png\"><img class=\"aligncenter size-large wp-image-8478\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/10/GBPUSD-DAILY-15102016-1024x477.png\" alt=\"gbpusd-daily-15102016\" width=\"1024\" height=\"477\" /></a>\r\n\r\nAUD/USD - Weekly Closing Price: 0.7615\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/10/AUDUSD-DAILY-15102016.png\"><img class=\"aligncenter size-large wp-image-8476\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/10/AUDUSD-DAILY-15102016-1024x477.png\" alt=\"audusd-daily-15102016\" width=\"1024\" height=\"477\" /></a>\r\n\r\nNZD/USD - Weekly Closing Price: 0.7085\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/10/NZDUSD-DAILY-15102016.png\"><img class=\"aligncenter size-large wp-image-8479\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/10/NZDUSD-DAILY-15102016-1024x477.png\" alt=\"nzdusd-daily-15102016\" width=\"1024\" height=\"477\" /></a>\r\n\r\nUSD/CAD - Weekly Closing Price: 1.3142\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/10/USDCAD-DAILY-15102016.png\"><img class=\"aligncenter size-large wp-image-8480\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/10/USDCAD-DAILY-15102016-1024x477.png\" alt=\"usdcad-daily-15102016\" width=\"1024\" height=\"477\" /></a>\r\n\r\nUSD/CHF - Weekly Closing Price: 0.9903\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/10/USDCHF-DAILY-15102016.png\"><img class=\"aligncenter size-large wp-image-8481\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/10/USDCHF-DAILY-15102016-1024x477.png\" alt=\"usdchf-daily-15102016\" width=\"1024\" height=\"477\" /></a>\r\n\r\nUSD/JPY - Weekly Closing Price: 104.17\r\n\r\n<u><a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/10/USDJPY-DAILY-15102016.png\"><img class=\"aligncenter size-large wp-image-8482\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/10/USDJPY-DAILY-15102016-1024x477.png\" alt=\"usdjpy-daily-15102016\" width=\"1024\" height=\"477\" /></a></u>\r\n\r\n<u> </u>\r\n\r\n<u> </u>\r\n<ol start=\"6\">\r\n 	<li><strong> MY CLOSING THOUGHTS:</strong></li>\r\n</ol>\r\nWhatever happens this week do not get suckered into trades. Plan your trades and trade your plan. Wait for the trades to come to you. This market is 100% unforgiving and can easily wipe out longs and shorts in the market in less than a trading session.\r\n\r\nThere is a lot of geopolitical news hanging over the markets. Remember no-one (me included) has a clue about what is going to happen and why. It’s all opinions until we have facts and even then the markets can still go off in the wrong direction based on fundamentals.\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,\r\n\r\nScott Pickering\r\nThe Pip Accumulator\r\n<a href=\"http://weeklyfxdrivethru.com/disclaimer/\">http://weeklyfxdrivethru.com/disclaimer/\r\n</a>DATE: 15th October 2016\r\nBLOG VERSION: #218 FREE NEWSLETTER','FED MINUTES: DICTATORSHIP or COMMITTEE?','','publish','open','closed','','fed-minutes-dictatorship-committee','','','2016-10-15 12:10:03','2016-10-15 17:10:03','',0,'http://weeklyfxdrivethru.com/?p=8489',0,'post','',0),(8490,1,'2016-10-15 12:10:03','2016-10-15 17:10:03','<strong> </strong>\r\n<ol>\r\n 	<li><strong> INTRODUCTION:</strong></li>\r\n</ol>\r\nI have made one or two structural changes to my blog this week. I am finding that with increasing numbers of subscribers to the PREMIUM SERVICE my administration time is increasing. This is eating into my sleep time and the knock-on effect is that the 7/8 hours that the blog requires to write and the administration involved in posting it takes, needs to be reduced by a couple of hours at least. What great problems to have… not too sure about the lack of sleep but increasing subscriber numbers is great news.\r\n\r\nOne thing increased subscribers brings in is great interaction. People/Traders subscribe for a multitude of reasons; to improve trade entries / exits, restore self-belief / confidence, observe another traders thoughts / views on the market and get a better understanding of RISK MANAGEMENT, POSITION SIZING, TRADE PLANS and how to survive the markets and have trading longevity… amongst other factors.\r\n\r\nIt would be true to say that many of the new subscribers joining from early September had been “chopped up” in the summer trading chop fest. To call the summer a range trading environment is probably accurate but it was more than that. It was a highly volatile market at times and whilst we had an overall trading range we had mini ranges that were broken that were then noted as false breakouts and breakdowns. The Commodity currencies AUD, NZD and CAD lead the market with this activity. This cut up a lot of traders. It was purely a scalper market. To have longer-term trades was the answer but with smaller position sizes to enable wider stops to be put in place. At least that was my solution.\r\n\r\nAdded to this overview, extremely thin market participation was in play with very low liquidity, which manifested itself recently in Asian trading with the cable crash. This occurred away from the summer months. It just shows how Forex trading in the background is evolving. Remember throughout 2015 -2016 the major banks have been reducing FX exposure due to reduced profitability and volatility.\r\n\r\nBrokers are increasing margin requirements every time that there is a major geopolitical event (BREXIT and now the U.S. Presidential Election). Since the CHF PEG REMOVAL, brokers have struggled, in many cases to exist with lower volumes and acquisitions have taken place. Regulations have tightened. Forex trading is going through a lot of changes.\r\n\r\nI still have people talk to me about ROBOT trading. My answer has not altered. If these robots were so good and did what is claimed, do you not think that the banks would have bought them? Because, let’s face facts, they are looking for the slightest excuse to sack hundreds of analysts and traders worldwide. That just has NOT happened. You need instinct to trade but at the same time you need to trade without emotion.\r\n\r\nBack on track…\r\n\r\nI am not a gambler. I am probably too cautious with my trading. I miss lots of trades because they do not meet my chosen entry levels. I constantly adapt my trading style to what I believe the market is giving me.\r\n\r\nMany traders are lured into Forex Trading by the promises of quick and easy financial gains. In most of these cases this is known as gambling. That is why I removed the trial period from the PREMIUM SERVICE. All I attracted was gamblers looking for 20 trades a day, that they would ignore RISK MANAGEMENT on and OVERSIZE their trade positions.\r\n\r\nI view myself as a RISK MANAGER. I will have as many as 20 trades open at any one time, but many of these will be small positions with wider stops looking for a move.\r\n\r\nI have a PLAN and I trade my PLAN. I wait for the trades to come to me rather than chase. Trading is simple, repetitive, and one could say at times quite boring. It is above all else applying DISCIPLINE.\r\n\r\nThe one constant in Forex Trading however is that the markets are continually evolving and it is how we as traders move with the markets as they change that matters. The best example I can give of a changing market environment is Central Bank Monetary Policy. Most Central Banks have lost credibility with the markets. This is huge news. We have still to feel the ramifications of this in my opinion. Even the FED has lost credibility in my opinion. There will be a Forex equivalent of Tsunami’s to regain this credibility. Watch this space.\r\n\r\nMoving on…\r\n\r\nJust a quick reminder; each month, I am giving away a FREE PREMIUM SERVICE 4-week subscription. This gives the winner 100% access to the PREMIUM SERVICE website and ALL my PREMIUM SERVICE communications from my suggested trade set-ups to market commentaries and my thoughts.\r\n\r\nTo stand a chance of being the next subscription winner, you need to subscribe to receive this free blog via my website <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a><strong>  </strong>\r\n\r\nYou are automatically entered into a free monthly draw, once you’ve subscribed. Each month one lucky blog subscriber will receive a free subscription to the PREMIUM SERVICE.\r\n\r\n<strong> </strong>\r\n<ol start=\"2\">\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 the various trade styles plus 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 credit card.\r\n\r\n<u> </u>\r\n<p style=\"text-align: center;\"><u>PREMIUM SERVICE SUBSCRIPTION COSTS:</u></p>\r\n<p style=\"text-align: center;\">Details of features and benefits of a PREMIUM SERVICE subscription can be found on my website landing page at <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a> under the dropdown tab at the top of the page entitled HISTORY &amp; PERFORMANCE OF THE PREMIUM SERVICE. To subscribe follow the SUBSCRIBE HERE tab.</p>\r\n<p style=\"text-align: center;\">PREMIUM SERVICE subscription costs are as follows: -</p>\r\n<p style=\"text-align: center;\">CAD$240.00 - 4 weeks (1 month)\r\nCAD$500.00 - 10 weeks (3 months)\r\nCAD$750.00 - 20 weeks (6 months)\r\nCAD$1,250.00 - 40 weeks (12 months)\r\n<u>PLUS</u>: Existing PLATINUM MEMBERS (annual subscribers) can re-subscribe for a further 12 months for CAD$1,000.00\r\n\r\nI work for about 40 weeks a year. Subscriptions are based on 40 published blogs of the WEEKLY FX DRIVE THRU per year. For the remaining 10 weeks, I am around tweeting, posting and managing existing LIVE trades, although my market activity is reduced.</p>\r\n<p style=\"text-align: center;\"></p>\r\n<u>PREMIUM SERVICE PERFORMANCE THIS MONTH &amp; YEAR TO DATE:</u>\r\n\r\nI am not saying that posting a monthly loss in trading is a “good thing” but, after posting a small loss in September, this month has been a really great response. My annual 10,000 pip objective has now been passed and at the close last Friday (14<sup>th</sup>) the year to date pip total for the PREMIUM SERVICE was 11,033 pips.\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/10/PS-PREF-TO-15102106.png\"><img class=\"aligncenter size-large wp-image-8475\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/10/PS-PREF-TO-15102106-808x1024.png\" alt=\"ps-pref-to-15102106\" width=\"808\" height=\"1024\" /></a>\r\n\r\n&nbsp;\r\n\r\nObviously, the year is not yet over and the performance can grow further or fall back a little. However, in 2014 and 2015 my 10,000 pip target was achieved and this year baring a catastrophe all should be good.\r\n\r\nLooking at the chart above here are a few takeaways: -\r\n<ol>\r\n 	<li>Not everyone can trade with accounts with balances over $10,000 or $100,000.</li>\r\n 	<li>Whatever lot style you trade from MICRO through to STANDARD lots you can still make money.</li>\r\n 	<li>Even if you traded 3 x micro lots at $0.30 cents cost per trade, after paying a PREMIUM SERVICE subscription, this year to date you would have an additional $2,359.90 in your trading account. This could be done with an account with a starting balance of $5,000.00. At the moment a net income after costs of almost 50% could have been achieved.</li>\r\n 	<li>I trade a very long hours and I am never far from a trading device. I add and cover positions at all hours, therefore you must consider this when looking at your projected performance. Most of my trade entries are via limit orders but my exits can be at any time.</li>\r\n 	<li>To trade with MINI lots, I would say that given the number of trades that can be “LIVE” at any one time, an account of between $10,000 and $12,000 should be used as a minimum to trade 3 lots a trade.</li>\r\n 	<li>Remember as well. If you decide to follow the PREMIUM SERVICE trade set ups, in year two (if subscribe annually) your renewal subscription is at a reduced rate, which gives you greater profitability potential moving forward.</li>\r\n</ol>\r\n&nbsp;\r\n<p style=\"text-align: center;\"><strong>PRESENT AND HISTORICAL QUICK PREMIUM SERVICE STATS:</strong></p>\r\n<p style=\"text-align: center;\"><strong>NET PIPS THIS MONTH SO FAR:            +2,048 pips</strong>\r\n<strong>NET PIPS 2016 TODATE:              +11,033 pips</strong></p>\r\n<p style=\"text-align: center;\"><strong>NET PIPS 2015:       +10,686 pips</strong>\r\n<strong>NET PIPS 2014:       +11,209 pips</strong></p>\r\nIf you want more data or detail about the performance and the tabs on my website landing page do not answer your questions, contact me directly and I will supply the trading data you require. There are NO secrets. There are many, many spreadsheets detailing performance trade by trade and by trade and by trading style, way too many to place in this blog. If you are interested in the PREMIUM SERVICE and want more information, all you have to do is ask.\r\n\r\n<strong> </strong>\r\n<ol start=\"3\">\r\n 	<li><strong> LOOKING BACKWARDS: THE FX MARKET PLACE</strong></li>\r\n</ol>\r\n<strong>LAST WEEK’S FOREX and ECONOMIC NEWS – MY VIEWS:</strong>\r\n\r\nTHE FOMC MINUTES:\r\n<p style=\"text-align: center;\"><strong>FED: DICTATORSHIP OR COMMITTEE?</strong></p>\r\nThe biggest news for me last week was the release of the FOMC Meeting Minutes from the last FED meeting. What did we learn?\r\n\r\nFrom my perspective bugger all.\r\n\r\nMy view has not altered for months now, in fact not since September 2015 when Yellen had the chance to increase rates and dithered. She took the last chance saloon rise in December 2015 only to save face and retain credibility with the markets.\r\n\r\nThis year she has dithered and dithered and just when you think she can dither no more… she does.\r\n\r\nWe are therefore looking at yet another December rate hike.\r\n\r\nI do not want to sound like a broken record, but louder than loud “Americans” are spouting off that the rest of the world is up sh*t creek without a paddle and that the US economy is strong. Actions speak louder than words. The FED wants 4 aces in the hand or a running flush before the dovish influence in the FOMC yields.\r\n\r\nEconomies always have mixed data, and markets are so interrelated nowadays that you have to accept this as fact. The FOMC doves want a perfect run. It is so easy to be a dove. You can always find something not to move forward.\r\n\r\nHowever there comes a point when this is seen as dithering and a credibility issue. We are past this in my opinion.\r\n\r\nFrom last week’s minutes we learnt that the FED is as divided as the US political parties are in Washington. The bookies are out stating an 80% chance of a rate hike in December and about 15% just prior to Presidential election in November.\r\n\r\nWho knows. If Yellen and co. say no to either, the USD will be destroyed and the FED’s credibility will be seriously damaged. Once again they have backed themselves into a corner entirely of their own doing.\r\n\r\nFrom a trading perspective what did we gain from the minutes?\r\n\r\nGoing into the actual meeting I would have said that there were more voting members that were HAWKISH – Fischer, Dudley, Powell, Mester, George and Rosengren. The DOVES were – Yellen, Brainard and Tarullo, with Bullard being neutral in my opinion.\r\n<p style=\"text-align: center;\"><strong>That\'s 6 HAWKS; 3 DOVES and 1 on the fence.</strong>\r\n<strong>When I worked in a multi-national company, that would have been seen as a vote for a hike!</strong></p>\r\nIt’s pretty obvious what went on and was reflected in the minutes is that when a vote was required, although discussions were open, several members voted with Yellen instead of their opinions, when getting their 15 minutes of fame on TV.\r\n\r\nAs stated earlier it is much easier being dove.\r\n\r\nGiven the facts in place right now – I think it\'s a “buy the USD on the dips” market.\r\n\r\n&nbsp;\r\n\r\nU.S. RETAIL SALES:\r\n\r\nThis was a beat and should set up more pro rate hike sound bytes for the coming weeks.\r\n\r\n&nbsp;\r\n\r\nCHINA EXPORTS:\r\n\r\nSeptember 2016 versus September 2015 shows a mammoth 10% reduction in China export numbers. Imports are declining. The trade surplus fell $42 billion.\r\n\r\nWhat can we take away from this? In my opinion it places another question mark over China GDP growth.\r\n\r\nFor me this is a short the NZD trade.\r\n\r\n&nbsp;\r\n\r\nOPEC and the OIL PRODUCTION LIMITS:\r\n\r\nThis was never far out of the news cycle last week. Production output ceilings, are you kidding me… from OPEC? give me a break! … Think about it who is going to measure this? In the past these have failed miserably. Why will it be different this time? It won’t.\r\n\r\nOPEC are being cute whores as they say in Ireland, they are raising media awareness and speculation of a production ceiling. This has inflated the Oil price and it remains above $50.00 per barrel. Job done so far.\r\n\r\nNovember 30<sup>th</sup> 2016 is the date we receive all the data about who is maxing out and who isn’t. I am very, very skeptical about this. Let’s wait and see.\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\nTHE U.S. PRESIDENTIAL ELECTION:\r\n\r\nUnbelievable. It\'s a reality show. If I ever hear an American tell me their political system is to be copied because it is so perfect, I will play them the recording of last Sundays debate between DONALD THE OCTOPUS and CROOKED HILLARY. What a shambles. The markets appear to love Clinton on the basis that she is a known entity, whether effective or not, over Trump who is a loose cannon amongst other things.\r\n\r\nIt is incredible, Clinton is going to tie Wall Street in knots of more layers of bureaucracy and legislation and the markets fear Trump so much, this is the preferred option.\r\n\r\nThis is such a shambles, I have read that brokers are tightening up margins ahead of November 8<sup>th</sup> in case the outcome is closer than the opinion polls are currently suggesting.\r\n\r\n&nbsp;\r\n\r\nBREXIT:\r\n\r\nTheresa May backed down only 72 hours after the Tory party conference to announce that parliament will debate and vote on the BREXIT conditions she hopes to negotiate out of the EUROPEAN UNION.\r\n\r\nIs it just me…?\r\n\r\nIsn’t she going to lay down in public debate, noted in “the Hansard” for the whole of the EU to see the British start position and hopefully the fallback position that would be acceptable to MP’s before any negotiations actually start?\r\n\r\nGreat job… what a fecking joke!!\r\n\r\n&nbsp;\r\n\r\n<strong>THIS WEEK’S FOREX and ECONOMIC NEWS – MY VIEWS:</strong>\r\n\r\n<u>THIS WEEK’S FOREX NEWS THAT INTERESTS ME:</u>\r\n\r\n(There are many more news items related to the Forex Market other than the ones listed below. These are the ones that interest me. You can go to <a href=\"http://www.forexfactory.com\">www.forexfactory.com</a> and <a href=\"http://www.tradingeconomics.com\">www.tradingeconomics.com</a> for a more comprehensive lists of all news events that are Forex related).\r\n\r\nSUNDAY: N/A.\r\n\r\nMONDAY: EUR – Mario Draghi (ECB) speaks.\r\nMONDAY: AUD -  Lowe (RBA) speaks &amp; RBA Monetary Policy Meeting minutes.\r\nMONDAY: NZD – CPi.\r\n\r\nTUESDAY: GBP - CPi.\r\nTUESDAY: USD – CPi and core CPi.\r\nTUESDAY: NZD – GDT (Dairy Auction results).\r\nTUESDAY: CNY – GDP and Industrial Production.\r\n\r\nWEDNESDAY: GBP – Employment numbers.\r\nWEDNESDAY: CAD – BOC Rate Statement and Press Conference.\r\nWEDNESDAY: AUD – Employment numbers.\r\n\r\nTHURSDAY: GBP – Retail Sales.\r\nTHURSDAY: EUR – ECB Press Conference and Interest Rate Statement.\r\n\r\nFRIDAY: CAD – CPi and core CPi data.\r\n\r\nIt\'s a big week for news. An ECB Press conference with employment numbers from the UK and Australia.\r\n\r\nThere is a nice mix of data from all over.\r\n\r\nThe standout for me is the BOC. I wrote last week about the housing bubble in the Canadian economy. House prices are falling back, probably at a greater rate than the government and the BOC would like as this will affect Retail Sales and Consumer Confidence if people believe that the value of their homes is pulling back too fast and too far.\r\n\r\nThe BOC are always reactionary and well behind the curve. It has to be a full on problem before they act. So if they were to cut interest rates this coming week it would indicate that things must be worse than we know and than the BOC are admitting to.\r\n\r\nAlso expect U.S. Presidential news to add some spice. The third and final debate happens this week.\r\n\r\nI would expect BREXIT news to remain near the top of the news pile as we move forward. The trigger end date of March 2017 may be an anti-climax at the end of the day, however, until the negotiations with the EU are completed and signed off, uncertainty will rule the day.\r\n\r\n<strong> </strong>\r\n<ol start=\"4\">\r\n 	<li><strong> PREMIUM SERVICE SUBSCRIBER EXCLUSIVE CONTENT AREA:</strong><strong> </strong></li>\r\n</ol>\r\n<ol start=\"5\">\r\n 	<li><strong> LOOKING FORWARDS: THE USD MAJORS MY THOUGHTS and VIEWS:</strong></li>\r\n</ol>\r\n<strong> </strong>\r\n\r\n<u>THE USD MAJORS – MY THOUGHTS (A REVIEW): </u>\r\n\r\n(In this section I have as usual kept my charts as minimalist as possible. With regards to charting in my opinion less is more!! I hope that they are clear. All readers regardless of level of experience should be able to follow my thoughts from my comments to the levels on the charts with ease)\r\n\r\nMy comments are contained on the charts.\r\n\r\nEUR/USD - Weekly Closing Price: 1.0971\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/10/EURUSD-DAILY-15102016.png\"><img class=\"aligncenter size-large wp-image-8477\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/10/EURUSD-DAILY-15102016-1024x477.png\" alt=\"eurusd-daily-15102016\" width=\"1024\" height=\"477\" /></a>\r\n\r\nGBP/USD - Weekly Closing Price: 1.2188\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/10/GBPUSD-DAILY-15102016.png\"><img class=\"aligncenter size-large wp-image-8478\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/10/GBPUSD-DAILY-15102016-1024x477.png\" alt=\"gbpusd-daily-15102016\" width=\"1024\" height=\"477\" /></a>\r\n\r\nAUD/USD - Weekly Closing Price: 0.7615\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/10/AUDUSD-DAILY-15102016.png\"><img class=\"aligncenter size-large wp-image-8476\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/10/AUDUSD-DAILY-15102016-1024x477.png\" alt=\"audusd-daily-15102016\" width=\"1024\" height=\"477\" /></a>\r\n\r\nNZD/USD - Weekly Closing Price: 0.7085\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/10/NZDUSD-DAILY-15102016.png\"><img class=\"aligncenter size-large wp-image-8479\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/10/NZDUSD-DAILY-15102016-1024x477.png\" alt=\"nzdusd-daily-15102016\" width=\"1024\" height=\"477\" /></a>\r\n\r\nUSD/CAD - Weekly Closing Price: 1.3142\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/10/USDCAD-DAILY-15102016.png\"><img class=\"aligncenter size-large wp-image-8480\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/10/USDCAD-DAILY-15102016-1024x477.png\" alt=\"usdcad-daily-15102016\" width=\"1024\" height=\"477\" /></a>\r\n\r\nUSD/CHF - Weekly Closing Price: 0.9903\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/10/USDCHF-DAILY-15102016.png\"><img class=\"aligncenter size-large wp-image-8481\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/10/USDCHF-DAILY-15102016-1024x477.png\" alt=\"usdchf-daily-15102016\" width=\"1024\" height=\"477\" /></a>\r\n\r\nUSD/JPY - Weekly Closing Price: 104.17\r\n\r\n<u><a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/10/USDJPY-DAILY-15102016.png\"><img class=\"aligncenter size-large wp-image-8482\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/10/USDJPY-DAILY-15102016-1024x477.png\" alt=\"usdjpy-daily-15102016\" width=\"1024\" height=\"477\" /></a></u>\r\n\r\n<u> </u>\r\n\r\n<u> </u>\r\n<ol start=\"6\">\r\n 	<li><strong> MY CLOSING THOUGHTS:</strong></li>\r\n</ol>\r\nWhatever happens this week do not get suckered into trades. Plan your trades and trade your plan. Wait for the trades to come to you. This market is 100% unforgiving and can easily wipe out longs and shorts in the market in less than a trading session.\r\n\r\nThere is a lot of geopolitical news hanging over the markets. Remember no-one (me included) has a clue about what is going to happen and why. It’s all opinions until we have facts and even then the markets can still go off in the wrong direction based on fundamentals.\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,\r\n\r\nScott Pickering\r\nThe Pip Accumulator\r\n<a href=\"http://weeklyfxdrivethru.com/disclaimer/\">http://weeklyfxdrivethru.com/disclaimer/\r\n</a>DATE: 15th October 2016\r\nBLOG VERSION: #218 FREE NEWSLETTER','FED MINUTES: DICTATORSHIP or COMMITTEE?','','inherit','closed','closed','','8489-revision-v1','','','2016-10-15 12:10:03','2016-10-15 17:10:03','',8489,'http://weeklyfxdrivethru.com/8489-revision-v1/',0,'revision','',0),(8492,1,'2016-10-21 13:21:57','2016-10-21 18:21:57','','prem-serv-profits1-22102016','','inherit','open','closed','','prem-serv-profits1-22102016','','','2016-10-22 11:31:04','2016-10-22 16:31:04','',5000,'http://weeklyfxdrivethru.com/wp-content/uploads/2016/10/PREM-SERV-PROFITS1-22102016.png',0,'attachment','image/png',0),(8493,1,'2016-10-21 13:22:01','2016-10-21 18:22:01','','prem-serv-profits2-22102016','','inherit','open','closed','','prem-serv-profits2-22102016','','','2016-10-22 11:31:30','2016-10-22 16:31:30','',5000,'http://weeklyfxdrivethru.com/wp-content/uploads/2016/10/PREM-SERV-PROFITS2-22102016.png',0,'attachment','image/png',0),(8494,1,'2016-10-21 13:22:05','2016-10-21 18:22:05','','flash-22102016','','inherit','open','closed','','flash-22102016','','','2016-10-22 11:27:14','2016-10-22 16:27:14','',2711,'http://weeklyfxdrivethru.com/wp-content/uploads/2016/10/FLASH-22102016.png',0,'attachment','image/png',0),(8495,1,'2016-10-21 13:22:09','2016-10-21 18:22:09','','fun1-22102016','','inherit','open','closed','','fun1-22102016','','','2016-10-22 11:28:17','2016-10-22 16:28:17','',3106,'http://weeklyfxdrivethru.com/wp-content/uploads/2016/10/FUN1-22102016.png',0,'attachment','image/png',0),(8496,1,'2016-10-21 13:22:13','2016-10-21 18:22:13','','fun2-22102016','','inherit','open','closed','','fun2-22102016','','','2016-10-22 11:28:27','2016-10-22 16:28:27','',3106,'http://weeklyfxdrivethru.com/wp-content/uploads/2016/10/FUN2-22102016.png',0,'attachment','image/png',0),(8497,1,'2016-10-21 13:22:17','2016-10-21 18:22:17','','fun3-22102016','','inherit','open','closed','','fun3-22102016','','','2016-10-22 11:28:34','2016-10-22 16:28:34','',3106,'http://weeklyfxdrivethru.com/wp-content/uploads/2016/10/FUN3-22102016.png',0,'attachment','image/png',0),(8498,1,'2016-10-21 13:22:20','2016-10-21 18:22:20','','pos1-22102016','','inherit','open','closed','','pos1-22102016','','','2016-10-22 11:29:58','2016-10-22 16:29:58','',6965,'http://weeklyfxdrivethru.com/wp-content/uploads/2016/10/POS1-22102016.png',0,'attachment','image/png',0),(8499,1,'2016-10-21 13:22:23','2016-10-21 18:22:23','','pos2-22102016','','inherit','open','closed','','pos2-22102016','','','2016-10-22 11:30:06','2016-10-22 16:30:06','',6965,'http://weeklyfxdrivethru.com/wp-content/uploads/2016/10/POS2-22102016.png',0,'attachment','image/png',0),(8500,1,'2016-10-21 13:22:26','2016-10-21 18:22:26','','limit-orders-22102016','','inherit','open','closed','','limit-orders-22102016','','','2016-10-22 11:14:06','2016-10-22 16:14:06','',8511,'http://weeklyfxdrivethru.com/wp-content/uploads/2016/10/LIMIT-ORDERS-22102016.png',0,'attachment','image/png',0),(8502,1,'2016-10-21 16:09:23','2016-10-21 21:09:23','','live-trades2-22102016','','inherit','open','closed','','live-trades2-22102016','','','2016-10-22 11:13:44','2016-10-22 16:13:44','',8511,'http://weeklyfxdrivethru.com/wp-content/uploads/2016/10/LIVE-TRADES2-22102016.png',0,'attachment','image/png',0),(8503,1,'2016-10-21 16:14:41','2016-10-21 21:14:41','','audusd-weekly-21102016','','inherit','open','closed','','audusd-weekly-21102016','','','2016-10-22 11:10:41','2016-10-22 16:10:41','',8511,'http://weeklyfxdrivethru.com/wp-content/uploads/2016/10/AUDUSD-WEEKLY-21102016.png',0,'attachment','image/png',0),(8504,1,'2016-10-21 16:14:45','2016-10-21 21:14:45','','eurusd-weekly-21102016','','inherit','open','closed','','eurusd-weekly-21102016','','','2016-10-22 11:10:15','2016-10-22 16:10:15','',8511,'http://weeklyfxdrivethru.com/wp-content/uploads/2016/10/EURUSD-WEEKLY-21102016.png',0,'attachment','image/png',0),(8505,1,'2016-10-21 16:14:50','2016-10-21 21:14:50','','gbpusd-weekly-22102016','','inherit','open','closed','','gbpusd-weekly-22102016','','','2016-10-22 11:10:29','2016-10-22 16:10:29','',8511,'http://weeklyfxdrivethru.com/wp-content/uploads/2016/10/GBPUSD-WEEKLY-22102016.png',0,'attachment','image/png',0),(8506,1,'2016-10-21 16:14:54','2016-10-21 21:14:54','','nzdusd-daily-21102016','','inherit','open','closed','','nzdusd-daily-21102016','','','2016-10-22 11:10:54','2016-10-22 16:10:54','',8511,'http://weeklyfxdrivethru.com/wp-content/uploads/2016/10/NZDUSD-DAILY-21102016.png',0,'attachment','image/png',0),(8507,1,'2016-10-21 16:14:58','2016-10-21 21:14:58','','usdcad-weekly-21102016','','inherit','open','closed','','usdcad-weekly-21102016','','','2016-10-22 11:11:05','2016-10-22 16:11:05','',8511,'http://weeklyfxdrivethru.com/wp-content/uploads/2016/10/USDCAD-WEEKLY-21102016.png',0,'attachment','image/png',0),(8508,1,'2016-10-21 16:15:02','2016-10-21 21:15:02','','usdchf-daily-22102016','','inherit','open','closed','','usdchf-daily-22102016','','','2016-10-22 11:11:17','2016-10-22 16:11:17','',8511,'http://weeklyfxdrivethru.com/wp-content/uploads/2016/10/USDCHF-DAILY-22102016.png',0,'attachment','image/png',0),(8509,1,'2016-10-21 16:15:08','2016-10-21 21:15:08','','usdjpy-daily-21102016','','inherit','open','closed','','usdjpy-daily-21102016','','','2016-10-22 11:11:35','2016-10-22 16:11:35','',8511,'http://weeklyfxdrivethru.com/wp-content/uploads/2016/10/USDJPY-DAILY-21102016.png',0,'attachment','image/png',0),(8510,1,'2016-10-22 09:11:51','2016-10-22 14:11:51','','dxy-monthly-chart-22102016','','inherit','open','closed','','dxy-monthly-chart-22102016','','','2016-10-22 11:07:43','2016-10-22 16:07:43','',8511,'http://weeklyfxdrivethru.com/wp-content/uploads/2016/10/DXY-MONTHLY-CHART-22102016.png',0,'attachment','image/png',0),(8511,1,'2016-10-22 11:35:12','2016-10-22 16:35:12','<strong> </strong>\r\n<ol>\r\n 	<li><strong> INTRODUCTION:</strong></li>\r\n</ol>\r\nLast week I will remember well for the trades that either just missed hitting my price point to enter or for a few trades that I cancelled that I should have left in place. My trading around the ECB press conference was bad. Once again I just wish that I could have been blessed with that wonderful thing that we all wished we had in abundance… hindsight. All trades combined, I missed out on about 600 pips. I stopped counting as it was just annoying me. The positive from all of this was of course that I did not lose any pips or $$$. However, to once and for all erase these 24 hours from my memory I would just like to write…bugger!!\r\n\r\nAs I tell subscribers it’s not how we fall down, it’s how we learn from the experience and how we get back up and get back into the trading cycle.\r\n\r\nMoving on…\r\n\r\nA few, but, not many positive responses to the subtle changes to the blog format. A couple of negatives were also received. For now, I am not inclined to change anything and this structure will remain in play until the year end at least. At that time during the Christmas break I will be looking at all communications that I am currently involved with and those I want to get involved with.\r\n\r\nJust a quick reminder; each month, I am giving away a FREE PREMIUM SERVICE 4-week subscription. This gives the winner 100% access to the PREMIUM SERVICE website and ALL my PREMIUM SERVICE communications from my suggested trade set-ups to market commentaries and my thoughts.\r\n\r\nTo stand a chance of being the next subscription winner, you need to subscribe to receive this free blog via my website <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a><strong>  </strong>\r\n\r\nYou are automatically entered into a free monthly draw, once you’ve subscribed. Each month one lucky blog subscriber will receive a free subscription to the PREMIUM SERVICE.\r\n\r\n<strong> </strong>\r\n<ol start=\"2\">\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 the various trade styles plus 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 credit card.\r\n\r\n<u>PREMIUM SERVICE SUBSCRIPTION COSTS:</u>\r\n\r\nDetails of features and benefits of a PREMIUM SERVICE subscription can be found on my website landing page at <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a> under the dropdown tab at the top of the page entitled HISTORY &amp; PERFORMANCE OF THE PREMIUM SERVICE. To subscribe follow the SUBSCRIBE HERE tab.\r\n\r\nPREMIUM SERVICE subscription costs are as follows: -\r\n\r\nCAD$240.00 - 4 weeks (1 month)\r\nCAD$500.00 - 10 weeks (3 months)\r\nCAD$750.00 - 20 weeks (6 months)\r\nCAD$1,250.00 - 40 weeks (12 months)\r\n<u>PLUS</u>: Existing PLATINUM MEMBERS (annual subscribers) can re-subscribe for a further 12 months for CAD$1,000.00\r\n\r\nI work for about 40 weeks a year. Subscriptions are based on 40 published blogs of the WEEKLY FX DRIVE THRU per year. For the remaining 10 weeks, I am around tweeting, posting and managing existing LIVE trades, although my market activity is reduced.\r\n\r\n<u>PREMIUM SERVICE PERFORMANCE:</u>\r\n\r\nPRESENT AND HISTORICAL QUICK PREMIUM SERVICE STATS:\r\n\r\nNET PIPS THIS MONTH SO FAR:            +2,118 pips\r\nNET PIPS 2016 TO DATE:              +11,103 pips\r\n\r\nNET PIPS 2015:       +10,686 pips\r\nNET PIPS 2014:       +11,209 pips\r\n\r\nIf you would like supporting data or detail about the performance and the tabs on my website landing page at <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a> do not answer your questions, contact me directly and I will supply the trading data you require. There are NO secrets. There are many, many spreadsheets detailing performance trade by trade and by trade and by trading style, way too many to place in this blog. If you are interested in the PREMIUM SERVICE and want more information, all you have to do is ask.\r\n\r\n<strong> </strong>\r\n<ol start=\"3\">\r\n 	<li><strong> LOOKING BACKWARDS: THE FX MARKET PLACE</strong></li>\r\n</ol>\r\n<strong>LAST WEEK’S FOREX and ECONOMIC NEWS – MY VIEWS:</strong>\r\n\r\nFrom last week there was one standout for me: -\r\n\r\nTHE ECB PRESS CONFERENCE:\r\n\r\nSo this time the markets reacted positively to Mario Draghi. The single currency is now at its lowest level since May this year and it could be off to test the March 2015 lows of 1.0450.\r\n\r\nSo here is my take…\r\n\r\nApart from the fact I had a nose bleed as the markets actually reacted probably correctly to Draghi’s dovish commentary for once, in all honesty, do you believe that an ECB two-day board meeting with the current stimulus program ending in less than six months had no discussion on how to end the program or about extending the end date?\r\n\r\nMario Draghi stated that neither were mentioned. Well…  glaze my nipples and call me Rita!  Pull the other one. Was Draghi talking bulls**t, cows**t or camels**t?\r\n\r\nIn the name of sanity are we the unwashed expected to believe this?\r\n\r\nOf course the ECB board discussed it. If it’s not a meeting agenda issue for every ECB policy meeting it damn well should be.\r\n\r\nDraghi has suggested further easing in December and this may have been what weakened the EUR/USD. However, I am, more in the camp that the USD, which is strong at the moment and on one hell of a bull run was just looking for any reason to push higher and this was an opportunity. For me, this move on Draghi’s “grand day out” was more about the USD than the EUR.\r\n\r\nIs the ECB QE (Quantitative Easing) program going to conclude in March 2017? Very unlikely in my opinion, it will probably be extended by at least six months to September 2017.\r\n\r\nNot that it really matters to us as traders, but has the QE program worked for Draghi?\r\n\r\nIt pist off Wolfgang Schaeuble the German Chancellor, so if that was a goal for Draghi (it would have been for me), job done… I jest and mock.\r\n\r\nBack on point…\r\n\r\nVery simply, not really, by any stretch. It never really addressed or weakened the single currency to promote EUROZONE exports. Consumer prices never really got a boost from QE.\r\n\r\nI think it will be extended and on the basis that several months ago Mario Draghi stated that the fiscal stimulus should also be used along with the monetary policy initiatives from the ECB to move the member states economies forward, as far as I can, see bugger all has been done by the member states in this regard. Politicians inside the EUROZONE are only bleating about BREXIT instead. So there is still much to do in my opinion.\r\n\r\nThe QE program as a stand-alone has had questionable success and the fact the EUROZONE leaders cannot unify and fiscally address issues says it all. Continued can-kicking and crisis led management will continue to be the order of the day. Those leaders inside the EUROZONE believing that Mario Draghi could somehow wave a magic wand over EUROPE and fix things are in cuckoo land. To his credit Draghi has stopped the hemorrhaging but I doubt it\'s a permanent fix by and stretch of the imagination.\r\n\r\nThe EUROZONE has deep-rooted issues beyond the scope of the country leaders and the bureaucratic Brussels operation is only full of desk sucking, pen pushing jotter blotters, who are merely a drain on running costs of the EUROPEAN UNION. They are not initiators just a cost, and a huge cost.\r\n\r\nMoving back to the currency movement after the announcement….\r\n\r\nThink back when Mario Draghi launched the €80 million per month start of the QE program, the EUR/USD rallied upwards about 200 pips on the day. If you recall he launched the program and said to the press contingent gathered “That’s it” …and on the day “THAT WAS IT” for the single currency it strengthened rather than weakened across the board. I think in delivery of news terms we call that a f*ck up…. in meetings I refer to it this when having policy meetings as “I do not want to do a Draghi!!”\r\n\r\nLast week, obviously, Mario Draghi decided not to comment and took the tight lipped approach.\r\n\r\nLet me re-iterate, I believe that last week it was more about the USD rather than the EUR. There is a market realism creeping in that the FED will raise interest rates this December. I think that any excuse to buy USD is being taken at the moment, especially with the DXY heading back at a rapid rate towards the 99.00 level (See the DXY chart below).\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/10/DXY-MONTHLY-CHART-22102016.png\"><img class=\"aligncenter size-large wp-image-8510\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/10/DXY-MONTHLY-CHART-22102016-1024x499.png\" alt=\"dxy-monthly-chart-22102016\" width=\"1024\" height=\"499\" /></a>\r\n\r\n&nbsp;\r\n\r\nBREXIT:\r\n\r\nThe focus this week has been interesting to say the least. On one hand, we have seen UK Chancellor Philip Hammond defending the future role, and, to some on lookers, the very continued existence of the City of London financial district remaining a powerhouse. Whilst on the other hand Prime Minister Theresa May along with Brexit secretary David Davis spouting ahead of a Brussels wine and cheese ECB ministers meeting, about the flow of labour into the UK.\r\n\r\nThe posturing is inevitable. BREXIT negotiations will not start yet and all the key lines in the sand need to be out there so that all parties can start with their own lines in the sand as well.\r\n\r\nThe upshot of all of this is that rhetoric will remain very high for the foreseeable future and it is in my opinion not a question of if but when is the GBP/USD going to test the flash crash lows from the hourly chart that followed the crash as that is one that everyone can agree on…. that level is 1.2085.\r\n\r\nIt will be tested at some time and the 1.2000 level is an obvious target to follow. We are trading around 1.2200 so it is all within a day’s striking distance without any problem at all.\r\n\r\n&nbsp;\r\n\r\nBOC RATE DECISION &amp; PRESS CONFERENCE:\r\n\r\nMy views and comments about Stephen Poloz the governor of the BOC are well documented.\r\n\r\nNo surprises for me this month at all. I have gone on record by stating that the BOC operates behind the curve and is 100% reactionary.\r\n\r\nLast Friday’s Retail Sales numbers were a poor miss. As I have already stated there is an undercurrent of poor confidence in the economy as recent tightening in housing starts to bite. Canada is not in any way shape or form comparable to the London UK market, but homeowners anywhere in the world DO NOT like hearing or reading that house prices are falling. It effects outlook.\r\n\r\nPoloz has to deal with this moving forward. Next the consumer confidence numbers will move lower and then he has a real problem to deal with.\r\n\r\nThe head in the sand approach hoping issues will go away has suited him this year when you look back. Moving forward he will need to implement stimulus to the economy either by an interest cut or by something inventive to keep money moving.\r\n\r\nHe kept interest rates on hold at 0.50% and talked dovishly last Thursday. But there will come a time sooner rather than later that will require action rather than commentary in my opinion.\r\n\r\n&nbsp;\r\n\r\nTHE U.S. PRESIDENTIAL ELECTION:\r\n\r\nThe circus continues… what can I add that hasn’t already been written or spoken about on TV?\r\n\r\nIt is a joke. The whole world is laughing at the U.S. over this reality show and the U.S. doesn\'t even realize this.\r\n\r\nI probably shouldn’t write this, but it’s my blog…\r\n\r\nComing initially from the UK, the BBC is largely unbiased in the way it presents news, especially political news.\r\n\r\nLiving in Canada, we receive U.S. TV stations and we get via our cable a lot of news stations. Frankly neither candidate (GROPER or CROOKED) does it for me, I think if that is this is the best that the U.S. political system can present the U.S. as the next president, it is in deep shit moving forward, and the misfits on the hill will just continue to abuse their positions, nothing will get done and the party political lines will remain as is moving forward. This of course does also affect the rest of the world as the U.S. president also claims the title of the leader of the free world…. God help us all.\r\n\r\nThat aside…\r\n\r\nCNN, which is a one-sided 100% biased presentation and coverage of the election, has for the past six months or so had a revolving panel of guests (6 or 8 at a time) squabbling over the candidates said or did this, that, or the other. There has been virtually no other news on the station. Yet it still calls itself the “first in news”.\r\n\r\nIs it any wonder that education in the U.S. is so poor?\r\nIs it any wonder extremes blossom in the U.S. society?\r\n\r\nPeople believe more of what they watch than they read. They are being fed crap by CNN. Viewers are down because the programming is poor. They never get behind the news. To combat lower viewers CNN is diverting hugely away from news. They now have 60 minute programs to fill the overnight and late evening slots.\r\n\r\nCNBC gave up financial market news 24 hours a day because it only wants good news and bulls on the station talking to viewers. People wanted realism. They moved away from CNBC. You only have to look at how CNBC conducted itself at one of the Republican debates, it was a shambles and the GOP vowed never to give them a debate ever again.\r\n\r\nBoth CNBC and CNN cannot give an unbiased opinion. They believe their viewers are of a lower intelligence, so you feed them what the station wants them to be fed on and fill in the gaps with programming that has NOTHING to do with the core channel mission statement.\r\n\r\nReality TV is filling the voids left from normal programming. This is the future. DONALD TRUMP is running a reality TV style campaign and these stations feed off this because it generates ad revenues.\r\n\r\nEducation, unbiased coverage, behind the facts journalism, what the feck do these things mean and where do they fit it? These are things from the past, long gone, never to return. Where are the facts in this reality TV debate?\r\n\r\nIs it any wonder trading is so jittery and full of false moves based on sound-bytes. As our Nobel prize guy says “The times they are-a-changing”… in fact they have already changed and I doubt that they will be coming back.\r\n\r\n&nbsp;\r\n<ol start=\"4\">\r\n 	<li><strong> LOOKING FORWARDS:</strong><strong> </strong></li>\r\n</ol>\r\n<strong>THIS WEEK’S FOREX and ECONOMIC NEWS – MY VIEWS:</strong><strong> </strong>\r\n\r\n<u>THIS WEEK’S FOREX NEWS THAT INTERESTS ME:</u>\r\n\r\n(There are many more news items related to the Forex Market other than the ones listed below. These are the ones that interest me. You can go to <a href=\"http://www.forexfactory.com\">www.forexfactory.com</a> and <a href=\"http://www.tradingeconomics.com\">www.tradingeconomics.com</a> for a more comprehensive lists of all news events that are Forex related).\r\n\r\nSUNDAY: N/A.\r\n\r\nMONDAY: N/A.\r\n\r\nTUESDAY: GBP – BOE Mark Carney speaks.\r\nTUESDAY: EUR – ECB Mario Draghi speaks.\r\nTUESDAY: AUD - CPi.\r\n\r\nWEDNESDAY: GBP – Preliminary GDP.\r\n\r\nTHURSDAY: N/A.\r\n\r\nFRIDAY: USD – Advance GDP.\r\n\r\nEconomic timed data releases are a little light this coming week.\r\n\r\nThe standouts will be Mark Carney and Mario Draghi both this coming Tuesday.\r\n\r\nMark Carney is addressing a House of Lords committee on the Economic Consequences to the UK of the BREXIT and Mario Draghi is addressing the DIW Economic Institute in Berlin on ECB policies. Both items have the ability to move the markets.\r\n\r\n<u>FOREX TRADING IN GENERAL TERMS THIS WEEK:</u>\r\n\r\nWithout getting drawn into too many specifics, because that is what the PREMIUM SERVICE is for.\r\n\r\nLook at all the closing daily and in many cases weekly candles across a broad section of currency pairs, but especially those linked to the USD. There are some powerful moves afoot that should see momentum carrying on into the start of this week in many, many cases.\r\n\r\nThe only issue that I have is that the Asian sessions are fraught with potential miss-leading moves due to thin trading and extremely low liquidity. If you are already in positions, it’s all about managing these positions through the initial Asian session in Europe. In the European session should the USD still be well bid there are opportunities to add and tighten up stops to protect some profits.\r\n\r\nIf you are looking to establish positions, I would wait until the European session. The first trading session of the week, reacting to the weekends news events can offer up more than you bargained for by way of volatility. Just because we have a string of what look like powerful prior week closing candles, recent events will take priority regardless and to have strength in your trade, in my opinion, I would wait a few hours for London to start.\r\n\r\n&nbsp;\r\n\r\n<u>THIS COMING WEEK - THE USD MAJORS (MY THOUGHTS): </u>\r\n\r\n(In this section I have as usual kept my charts as minimalist as possible. With regards to charting in my opinion less is more!! I hope that they are clear. All readers regardless of level of experience should be able to follow my thoughts from my comments to the levels on the charts with ease)\r\n\r\nMy comments are contained on the charts.\r\n\r\nEUR/USD - Weekly Closing Price: 1.0882\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/10/EURUSD-WEEKLY-21102016.png\"><img class=\"aligncenter size-large wp-image-8504\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/10/EURUSD-WEEKLY-21102016-1024x477.png\" alt=\"eurusd-weekly-21102016\" width=\"1024\" height=\"477\" /></a>\r\n\r\nGBP/USD - Weekly Closing Price: 1.2227\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/10/GBPUSD-WEEKLY-22102016.png\"><img class=\"aligncenter size-large wp-image-8505\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/10/GBPUSD-WEEKLY-22102016-1024x477.png\" alt=\"gbpusd-weekly-22102016\" width=\"1024\" height=\"477\" /></a>\r\n\r\nAUD/USD - Weekly Closing Price: 0.7604\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/10/AUDUSD-WEEKLY-21102016.png\"><img class=\"aligncenter size-large wp-image-8503\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/10/AUDUSD-WEEKLY-21102016-1024x477.png\" alt=\"audusd-weekly-21102016\" width=\"1024\" height=\"477\" /></a>\r\n\r\nNZD/USD - Weekly Closing Price: 0.7163\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/10/NZDUSD-DAILY-21102016.png\"><img class=\"aligncenter size-large wp-image-8506\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/10/NZDUSD-DAILY-21102016-1024x477.png\" alt=\"nzdusd-daily-21102016\" width=\"1024\" height=\"477\" /></a>\r\n\r\nUSD/CAD - Weekly Closing Price: 1.3333\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/10/USDCAD-WEEKLY-21102016.png\"><img class=\"aligncenter size-large wp-image-8507\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/10/USDCAD-WEEKLY-21102016-1024x477.png\" alt=\"usdcad-weekly-21102016\" width=\"1024\" height=\"477\" /></a>\r\n\r\nUSD/CHF - Weekly Closing Price: 0.9932\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/10/USDCHF-DAILY-22102016.png\"><img class=\"aligncenter size-large wp-image-8508\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/10/USDCHF-DAILY-22102016-1024x477.png\" alt=\"usdchf-daily-22102016\" width=\"1024\" height=\"477\" /></a>\r\n\r\nUSD/JPY - Weekly Closing Price: 103.82\r\n\r\n<u><a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/10/USDJPY-DAILY-21102016.png\"><img class=\"aligncenter size-large wp-image-8509\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/10/USDJPY-DAILY-21102016-1024x477.png\" alt=\"usdjpy-daily-21102016\" width=\"1024\" height=\"477\" /></a></u>\r\n\r\n<u> </u>\r\n\r\n<u>THIS COMING WEEK - THE NON-USD MAJORS PAIRS (MY THOUGHTS):</u>\r\n\r\nNot wanting to give away too much in this section as this overlaps with commentary that PREMIUM SERVICE SUBSCRIBERS receive in section 5.\r\n\r\nI am maintaining positions with EUR/GBP, EUR/CHF, GBP/CHF and AUD/NZD.\r\n\r\nOther non USD majors that are on my RADAR are: -\r\n\r\nGBP crosses. When cable makes its next break lower, should we test and break lower than 1.2000, I will then be starting to look for reversal moves back with the crosses.\r\n\r\nThe JPY pairs are on my RADAR. The PREMIUM SERVICE is currently long USD/JPY and I am looking to add additional JPY cross-rate pairs once the USD/JPY breaks above 104.60. I haven’t decided exactly which pairs, but I can definitely say that it will NOT involve the GBP/JPY for obvious reasons and the EUR/JPY could also be excluded.\r\n\r\n<strong> </strong>\r\n<ol start=\"5\">\r\n 	<li><strong> PREMIUM SERVICE SUBSCRIBER EXCLUSIVE CONTENT AREA:</strong></li>\r\n</ol>\r\nMARKET TRADING REVIEW:\r\n\r\nLooking forward, I am still going to remain active with EUR/GBP, GBP/CHF, EUR/CHF and AUD/NZD.\r\n\r\nMy BREXIT associated trades with EUR/GBP and GBP/CHF are both under water at the moment, however I am happy to sit in these trades. Fundamentally, as I have already stated it is matter of when rather than if the GBP will resume its move lower. Fundamentally, the uncertainty and timescales involving the BREXIT have not altered and all we are doing in most GBP related pairs is really consolidating the recent large moves that took place following the recent cable crash.\r\n\r\nMany pundits are talking about reversal trades and these should not be dismissed but price action in the GBP/USD looks heavy and we should bear in mind that whilst we hover well within a day’s ATR of the confirmed post flash crash lows it is a dangerous game to claim a reversal without the lows being tested first.\r\n\r\nThe EUR/CHF, I am just sitting in this one and I am confident that Mr. Jordan at the SNB will be ready to play should we strengthen too much. This is a longer term trade for me.\r\n\r\nThe AUD/NZD I have been trading this pair all year. At my peak I was holding seven trades all long this pair. I have been trading in and out of mini ranges all year banking profits along the way. This is my ultimate long term POSITION TRADE. I am happy to sit with this one.\r\n\r\nThe USD/CHF looks like a run to parity and beyond is on the cards, but will it actually happen? It really depends upon the price action with the EUR/USD. I had expected a full-on breakdown through 1.1000 and I was gob-smacked when the single currency reacted to Draghi last week the way it did.\r\n\r\nThe USD/JPY, I feel has a 100.00 run in it. If this pair weakened substantially this would in turn help the DXY move upwards. The USD/CHF would hit parity and the EUR/USD would be testing 1.0750.\r\n\r\nGBP/USD to 1.2000 or even 1.1500? We are consolidating at the moment. Remember, we are at 30 year lows, so we should consolidate before resuming the trend lower. Whilst we have uncertainty the move should in my opinion be lower.\r\n\r\nThe Head and Shoulders pattern with the NZD/USD is STILL frustrating to play out. The breakout higher with the AUD/NZD has stalled because the AUD/USD had a false breakout above 0.7710 and the NZD/USD just will not fall at any great pace even with the head and shoulders pattern in play.\r\n\r\nFrom a pip perspective last week was a virtually flat week. We get this from time to time and I am not going to get drawn into analysis in any depth on performances broken down by week. The trend is up and the trend is good. This is a long-term business not a short term reaction.\r\n\r\n&nbsp;\r\n\r\nADDITIONAL BROKER ACCOUNTS:\r\n\r\nAs we get nearer to the end of 2016, if any of you are considering adding an additional broker or two to keep PREMIUM SERVICE trades separate or maybe break down into TRADE STYLES, please note that the deals, offers etc. that brokers will be using to attract new clients will intensify.\r\n\r\nIf you are considering such a move please contact me so I can advise which of my brokers on my landing page are offering what.\r\n\r\nVANTAGE FX for example are charging nothing to deposit money into your broker account, whether the transfer in is by credit card or via bank transfer. My account manager David Bily is probably one of the best account managers that I have come across. VANTAGE FX also gives you an edge with 5PM eastern NZD news.\r\n\r\n&nbsp;\r\n\r\nPERISCOPE (UPDATE):\r\n\r\nApart from my microphone, which is coming via Amazon all my Apple stuff is here at the house and I am hoping that early next week I can do some tests and then formalize things moving forward.\r\n\r\nI have had several emails and tweets on the subject, all positive so I cannot wait to get going, hoping that I can master the software!!\r\n\r\nMy wife and I are STILL having issues with the latest mac software update to Safari called Sierra. It is still a painful transition; there are lots of bugs around email. If you connect via webmail basically there are no problems but if you use the Apple mailbox to collect all your emails in one location, it has been really painful. One iMac is OK. My MacBook Air is fine but my new iMac is a disaster. I could speak to apple and waste away my life on a daily basis with the mail client issues.\r\n\r\nSo I am hoping that PERISCOPE will be painless for me.\r\n\r\nMy proposal is initially to do a 30-minute presentation on a Monday afternoon my time about 2PM EST.\r\n\r\nI can be totally flexible with this time. If anyone wants to have a PERISCOPE session and this time is difficult please advise so I can review.\r\n\r\n<strong> </strong>\r\n\r\n<strong>TRADES REVIEW:</strong>\r\n\r\nThe excel spreadsheets below details current LIVE and pending LIMIT ORDER trades: -\r\n\r\n<u><a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/10/LIVE-TRADES2-22102016.png\"><img class=\"aligncenter size-large wp-image-8502\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/10/LIVE-TRADES2-22102016-793x1024.png\" alt=\"live-trades2-22102016\" width=\"793\" height=\"1024\" /></a></u>\r\n\r\n<u> </u>\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/10/LIMIT-ORDERS-22102016.png\"><img class=\"aligncenter size-large wp-image-8500\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/10/LIMIT-ORDERS-22102016-728x1024.png\" alt=\"limit-orders-22102016\" width=\"728\" height=\"1024\" /></a>\r\n\r\n&nbsp;\r\n<ol start=\"6\">\r\n 	<li><strong> MY CLOSING THOUGHTS:</strong></li>\r\n</ol>\r\nNot a lot of events are scheduled this week with regards to the Economic calendar. This does not mean that we can be complacent.\r\n\r\nThere are plenty of geopolitical events to keep the markets fluid through the European and North American sessions: - OIL, BREXIT and the U.S. Presidential Election to name three of them. Add to these the FED and its (assumed) desire to raise U.S. interest rates and we have enough uncertainties to deal with.\r\n\r\nDo not get suckered into believing the market is moving strongly in one direction. It can and does change in an instant. We are close to several range extremes, which increases volatility and the number of false moves. Remain careful and vigilant.\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,\r\n\r\nScott Pickering\r\nThe Pip Accumulator\r\n<a href=\"http://weeklyfxdrivethru.com/disclaimer/\">http://weeklyfxdrivethru.com/disclaimer/\r\n</a>BLOG VERSION: #116 PREMIUM SERVICE\r\nDATE: 22<sup>nd</sup> October 2016.','MARIO DRAGHI – “PULL THE OTHER ONE”','','publish','open','closed','','mario-draghi-pull-one','','','2016-10-22 11:35:12','2016-10-22 16:35:12','',0,'http://weeklyfxdrivethru.com/?post_type=member_posts&#038;p=8511',0,'member_posts','',0),(8512,1,'2016-10-22 11:15:06','2016-10-22 16:15:06','<strong> </strong>\r\n<ol>\r\n 	<li><strong> INTRODUCTION:</strong></li>\r\n</ol>\r\nLast week I will remember well for the trades that either just missed hitting my price point to enter or for a few trades that I cancelled that I should have left in place. My trading around the ECB press conference was bad. Once again I just wish that I could have been blessed with that wonderful thing that we all wished we had in abundance… hindsight. All trades combined, I missed out on about 600 pips. I stopped counting as it was just annoying me. The positive from all of this was of course that I did not lose any pips or $$$. However, to once and for all erase these 24 hours from my memory I would just like to write…bugger!!\r\n\r\nAs I tell subscribers it’s not how we fall down, it’s how we learn from the experience and how we get back up and get back into the trading cycle.\r\n\r\nMoving on…\r\n\r\nA few, but, not many positive responses to the subtle changes to the blog format. A couple of negatives were also received. For now, I am not inclined to change anything and this structure will remain in play until the year end at least. At that time during the Christmas break I will be looking at all communications that I am currently involved with and those I want to get involved with.\r\n\r\nJust a quick reminder; each month, I am giving away a FREE PREMIUM SERVICE 4-week subscription. This gives the winner 100% access to the PREMIUM SERVICE website and ALL my PREMIUM SERVICE communications from my suggested trade set-ups to market commentaries and my thoughts.\r\n\r\nTo stand a chance of being the next subscription winner, you need to subscribe to receive this free blog via my website <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a><strong>  </strong>\r\n\r\nYou are automatically entered into a free monthly draw, once you’ve subscribed. Each month one lucky blog subscriber will receive a free subscription to the PREMIUM SERVICE.\r\n\r\n<strong> </strong>\r\n<ol start=\"2\">\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 the various trade styles plus 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 credit card.\r\n\r\n<u>PREMIUM SERVICE SUBSCRIPTION COSTS:</u>\r\n\r\nDetails of features and benefits of a PREMIUM SERVICE subscription can be found on my website landing page at <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a> under the dropdown tab at the top of the page entitled HISTORY &amp; PERFORMANCE OF THE PREMIUM SERVICE. To subscribe follow the SUBSCRIBE HERE tab.\r\n\r\nPREMIUM SERVICE subscription costs are as follows: -\r\n\r\nCAD$240.00 - 4 weeks (1 month)\r\nCAD$500.00 - 10 weeks (3 months)\r\nCAD$750.00 - 20 weeks (6 months)\r\nCAD$1,250.00 - 40 weeks (12 months)\r\n<u>PLUS</u>: Existing PLATINUM MEMBERS (annual subscribers) can re-subscribe for a further 12 months for CAD$1,000.00\r\n\r\nI work for about 40 weeks a year. Subscriptions are based on 40 published blogs of the WEEKLY FX DRIVE THRU per year. For the remaining 10 weeks, I am around tweeting, posting and managing existing LIVE trades, although my market activity is reduced.\r\n\r\n<u>PREMIUM SERVICE PERFORMANCE:</u>\r\n\r\nPRESENT AND HISTORICAL QUICK PREMIUM SERVICE STATS:\r\n\r\nNET PIPS THIS MONTH SO FAR:            +2,118 pips\r\nNET PIPS 2016 TODATE:              +11,103 pips\r\n\r\nNET PIPS 2015:       +10,686 pips\r\nNET PIPS 2014:       +11,209 pips\r\n\r\nIf you would like supporting data or detail about the performance and the tabs on my website landing page at <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a> do not answer your questions, contact me directly and I will supply the trading data you require. There are NO secrets. There are many, many spreadsheets detailing performance trade by trade and by trade and by trading style, way too many to place in this blog. If you are interested in the PREMIUM SERVICE and want more information, all you have to do is ask.\r\n\r\n<strong> </strong>\r\n<ol start=\"3\">\r\n 	<li><strong> LOOKING BACKWARDS: THE FX MARKET PLACE</strong></li>\r\n</ol>\r\n<strong>LAST WEEK’S FOREX and ECONOMIC NEWS – MY VIEWS:</strong>\r\n\r\nFrom last week there was one standout for me: -\r\n\r\nTHE ECB PRESS CONFERENCE:\r\n\r\nSo this time the markets reacted positively to Mario Draghi. The single currency is now at its lowest level since May this year and it could be off to test the March 2015 lows of 1.0450.\r\n\r\nSo here is my take…\r\n\r\nApart from the fact I had a nose bleed as the markets actually reacted probably correctly to Draghi’s dovish commentary for once, in all honesty, do you believe that an ECB two-day board meeting with the current stimulus program ending in less than six months had no discussion on how to end the program or about extending the end date?\r\n\r\nMario Draghi stated that neither were mentioned. Well…  glaze my nipples and call me Rita!  Pull the other one. Was Draghi talking bulls**t, cows**t or camels**t?\r\n\r\nIn the name of sanity are we the unwashed expected to believe this?\r\n\r\nOf course the ECB board discussed it. If it’s not a meeting agenda issue for every ECB policy meeting it damn well should be.\r\n\r\nDraghi has suggested further easing in December and this may have been what weakened the EUR/USD. However, I am, more in the camp that the USD, which is strong at the moment and on one hell of a bull run was just looking for any reason to push higher and this was an opportunity. For me, this move on Draghi’s “grand day out” was more about the USD than the EUR.\r\n\r\nIs the ECB QE (Quantitative Easing) program going to conclude in March 2017? Very unlikely in my opinion, it will probably be extended by at least six months to September 2017.\r\n\r\nNot that it really matters to us as traders, but has the QE program worked for Draghi?\r\n\r\nIt pist off Wolfgang Schaeuble the German Chancellor, so if that was a goal for Draghi (it would have been for me), job done… I jest and mock.\r\n\r\nBack on point…\r\n\r\nVery simply, not really, by any stretch. It never really addressed or weakened the single currency to promote EUROZONE exports. Consumer prices never really got a boost from QE.\r\n\r\nI think it will be extended and on the basis that several months ago Mario Draghi stated that the fiscal stimulus should also be used along with the monetary policy initiatives from the ECB to move the member states economies forward, as far as I can, see bugger all has been done by the member states in this regard. Politicians inside the EUROZONE are only bleating about BREXIT instead. So there is still much to do in my opinion.\r\n\r\nThe QE program as a stand-alone has had questionable success and the fact the EUROZONE leaders cannot unify and fiscally address issues says it all. Continued can-kicking and crisis led management will continue to be the order of the day. Those leaders inside the EUROZONE believing that Mario Draghi could somehow wave a magic wand over EUROPE and fix things are in cuckoo land. To his credit Draghi has stopped the hemorrhaging but I doubt it\'s a permanent fix by and stretch of the imagination.\r\n\r\nThe EUROZONE has deep-rooted issues beyond the scope of the country leaders and the bureaucratic Brussels operation is only full of desk sucking, pen pushing jotter blotters, who are merely a drain on running costs of the EUROPEAN UNION. They are not initiators just a cost, and a huge cost.\r\n\r\nMoving back to the currency movement after the announcement….\r\n\r\nThink back when Mario Draghi launched the €80 million per month start of the QE program, the EUR/USD rallied upwards about 200 pips on the day. If you recall he launched the program and said to the press contingent gathered “That’s it” …and on the day “THAT WAS IT” for the single currency it strengthened rather than weakened across the board. I think in delivery of news terms we call that a f*ck up…. in meetings I refer to it this when having policy meetings as “I do not want to do a Draghi!!”\r\n\r\nLast week, obviously, Mario Draghi decided not to comment and took the tight lipped approach.\r\n\r\nLet me re-iterate, I believe that last week it was more about the USD rather than the EUR. There is a market realism creeping in that the FED will raise interest rates this December. I think that any excuse to buy USD is being taken at the moment, especially with the DXY heading back at a rapid rate towards the 99.00 level (See the DXY chart below).\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/10/DXY-MONTHLY-CHART-22102016.png\"><img class=\"aligncenter size-large wp-image-8510\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/10/DXY-MONTHLY-CHART-22102016-1024x499.png\" alt=\"dxy-monthly-chart-22102016\" width=\"1024\" height=\"499\" /></a>\r\n\r\n&nbsp;\r\n\r\nBREXIT:\r\n\r\nThe focus this week has been interesting to say the least. On one hand, we have seen UK Chancellor Philip Hammond defending the future role, and, to some on lookers, the very continued existence of the City of London financial district remaining a powerhouse. Whilst on the other hand Prime Minister Theresa May along with Brexit secretary David Davis spouting ahead of a Brussels wine and cheese ECB ministers meeting, about the flow of labour into the UK.\r\n\r\nThe posturing is inevitable. BREXIT negotiations will not start yet and all the key lines in the sand need to be out there so that all parties can start with their own lines in the sand as well.\r\n\r\nThe upshot of all of this is that rhetoric will remain very high for the foreseeable future and it is in my opinion not a question of if but when is the GBP/USD going to test the flash crash lows from the hourly chart that followed the crash as that is one that everyone can agree on…. that level is 1.2085.\r\n\r\nIt will be tested at some time and the 1.2000 level is an obvious target to follow. We are trading around 1.2200 so it is all within a day’s striking distance without any problem at all.\r\n\r\n&nbsp;\r\n\r\nBOC RATE DECISION &amp; PRESS CONFERENCE:\r\n\r\nMy views and comments about Stephen Poloz the governor of the BOC are well documented.\r\n\r\nNo surprises for me this month at all. I have gone on record by stating that the BOC operates behind the curve and is 100% reactionary.\r\n\r\nLast Friday’s Retail Sales numbers were a poor miss. As I have already stated there is an undercurrent of poor confidence in the economy as recent tightening in housing starts to bite. Canada is not in any way shape or form comparable to the London UK market, but homeowners anywhere in the world DO NOT like hearing or reading that house prices are falling. It effects outlook.\r\n\r\nPoloz has to deal with this moving forward. Next the consumer confidence numbers will move lower and then he has a real problem to deal with.\r\n\r\nThe head in the sand approach hoping issues will go away has suited him this year when you look back. Moving forward he will need to implement stimulus to the economy either by an interest cut or by something inventive to keep money moving.\r\n\r\nHe kept interest rates on hold at 0.50% and talked dovishly last Thursday. But there will come a time sooner rather than later that will require action rather than commentary in my opinion.\r\n\r\n&nbsp;\r\n\r\nTHE U.S. PRESIDENTIAL ELECTION:\r\n\r\nThe circus continues… what can I add that hasn’t already been written or spoken about on TV?\r\n\r\nIt is a joke. The whole world is laughing at the U.S. over this reality show and the U.S. doesn\'t even realize this.\r\n\r\nI probably shouldn’t write this, but it’s my blog…\r\n\r\nComing initially from the UK, the BBC is largely unbiased in the way it presents news, especially political news.\r\n\r\nLiving in Canada, we receive U.S. TV stations and we get via our cable a lot of news stations. Frankly neither candidate (GROPER or CROOKED) does it for me, I think if that is this is the best that the U.S. political system can present the U.S. as the next president, it is in deep shit moving forward, and the misfits on the hill will just continue to abuse their positions, nothing will get done and the party political lines will remain as is moving forward. This of course does also affect the rest of the world as the U.S. president also claims the title of the leader of the free world…. God help us all.\r\n\r\nThat aside…\r\n\r\nCNN, which is a one-sided 100% biased presentation and coverage of the election, has for the past six months or so had a revolving panel of guests (6 or 8 at a time) squabbling over the candidates said or did this, that, or the other. There has been virtually no other news on the station. Yet it still calls itself the “first in news”.\r\n\r\nIs it any wonder that education in the U.S. is so poor?\r\nIs it any wonder extremes blossom in the U.S. society?\r\n\r\nPeople believe more of what they watch than they read. They are being fed crap by CNN. Viewers are down because the programming is poor. They never get behind the news. To combat lower viewers CNN is diverting hugely away from news. They now have 60 minute programs to fill the overnight and late evening slots.\r\n\r\nCNBC gave up financial market news 24 hours a day because it only wants good news and bulls on the station talking to viewers. People wanted realism. They moved away from CNBC. You only have to look at how CNBC conducted itself at one of the Republican debates, it was a shambles and the GOP vowed never to give them a debate ever again.\r\n\r\nBoth CNBC and CNN cannot give an unbiased opinion. They believe their viewers are of a lower intelligence, so you feed them what the station wants them to be fed on and fill in the gaps with programming that has NOTHING to do with the core channel mission statement.\r\n\r\nReality TV is filling the voids left from normal programming. This is the future. DONALD TRUMP is running a reality TV style campaign and these stations feed off this because it generates ad revenues.\r\n\r\nEducation, unbiased coverage, behind the facts journalism, what the feck do these things mean and where do they fit it? These are things from the past, long gone, never to return. Where are the facts in this reality TV debate?\r\n\r\nIs it any wonder trading is so jittery and full of false moves based on sound-bytes. As our Nobel prize guy says “The times they are-a-changing”… in fact they have already changed and I doubt that they will be coming back.\r\n\r\n&nbsp;\r\n<ol start=\"4\">\r\n 	<li><strong> LOOKING FORWARDS:</strong><strong> </strong></li>\r\n</ol>\r\n<strong>THIS WEEK’S FOREX and ECONOMIC NEWS – MY VIEWS:</strong><strong> </strong>\r\n\r\n<u>THIS WEEK’S FOREX NEWS THAT INTERESTS ME:</u>\r\n\r\n(There are many more news items related to the Forex Market other than the ones listed below. These are the ones that interest me. You can go to <a href=\"http://www.forexfactory.com\">www.forexfactory.com</a> and <a href=\"http://www.tradingeconomics.com\">www.tradingeconomics.com</a> for a more comprehensive lists of all news events that are Forex related).\r\n\r\nSUNDAY: N/A.\r\n\r\nMONDAY: N/A.\r\n\r\nTUESDAY: GBP – BOE Mark Carney speaks.\r\nTUESDAY: EUR – ECB Mario Draghi speaks.\r\nTUESDAY: AUD - CPi.\r\n\r\nWEDNESDAY: GBP – Preliminary GDP.\r\n\r\nTHURSDAY: N/A.\r\n\r\nFRIDAY: USD – Advance GDP.\r\n\r\nEconomic timed data releases are a little light this coming week.\r\n\r\nThe standouts will be Mark Carney and Mario Draghi both this coming Tuesday.\r\n\r\nMark Carney is addressing a House of Lords committee on the Economic Consequences to the UK of the BREXIT and Mario Draghi is addressing the DIW Economic Institute in Berlin on ECB policies. Both items have the ability to move the markets.\r\n\r\n<u>FOREX TRADING IN GENERAL TERMS THIS WEEK:</u>\r\n\r\nWithout getting drawn into too many specifics, because that is what the PREMIUM SERVICE is for.\r\n\r\nLook at all the closing daily and in many cases weekly candles across a broad section of currency pairs, but especially those linked to the USD. There are some powerful moves afoot that should see momentum carrying on into the start of this week in many, many cases.\r\n\r\nThe only issue that I have is that the Asian sessions are fraught with potential miss-leading moves due to thin trading and extremely low liquidity. If you are already in positions, it’s all about managing these positions through the initial Asian session in Europe. In the European session should the USD still be well bid there are opportunities to add and tighten up stops to protect some profits.\r\n\r\nIf you are looking to establish positions, I would wait until the European session. The first trading session of the week, reacting to the weekends news events can offer up more than you bargained for by way of volatility. Just because we have a string of what look like powerful prior week closing candles, recent events will take priority regardless and to have strength in your trade, in my opinion, I would wait a few hours for London to start.\r\n\r\n&nbsp;\r\n\r\n<u>THIS COMING WEEK - THE USD MAJORS (MY THOUGHTS): </u>\r\n\r\n(In this section I have as usual kept my charts as minimalist as possible. With regards to charting in my opinion less is more!! I hope that they are clear. All readers regardless of level of experience should be able to follow my thoughts from my comments to the levels on the charts with ease)\r\n\r\nMy comments are contained on the charts.\r\n\r\nEUR/USD - Weekly Closing Price: 1.0882\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/10/EURUSD-WEEKLY-21102016.png\"><img class=\"aligncenter size-large wp-image-8504\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/10/EURUSD-WEEKLY-21102016-1024x477.png\" alt=\"eurusd-weekly-21102016\" width=\"1024\" height=\"477\" /></a>\r\n\r\nGBP/USD - Weekly Closing Price: 1.2227\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/10/GBPUSD-WEEKLY-22102016.png\"><img class=\"aligncenter size-large wp-image-8505\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/10/GBPUSD-WEEKLY-22102016-1024x477.png\" alt=\"gbpusd-weekly-22102016\" width=\"1024\" height=\"477\" /></a>\r\n\r\nAUD/USD - Weekly Closing Price: 0.7604\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/10/AUDUSD-WEEKLY-21102016.png\"><img class=\"aligncenter size-large wp-image-8503\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/10/AUDUSD-WEEKLY-21102016-1024x477.png\" alt=\"audusd-weekly-21102016\" width=\"1024\" height=\"477\" /></a>\r\n\r\nNZD/USD - Weekly Closing Price: 0.7163\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/10/NZDUSD-DAILY-21102016.png\"><img class=\"aligncenter size-large wp-image-8506\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/10/NZDUSD-DAILY-21102016-1024x477.png\" alt=\"nzdusd-daily-21102016\" width=\"1024\" height=\"477\" /></a>\r\n\r\nUSD/CAD - Weekly Closing Price: 1.3333\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/10/USDCAD-WEEKLY-21102016.png\"><img class=\"aligncenter size-large wp-image-8507\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/10/USDCAD-WEEKLY-21102016-1024x477.png\" alt=\"usdcad-weekly-21102016\" width=\"1024\" height=\"477\" /></a>\r\n\r\nUSD/CHF - Weekly Closing Price: 0.9932\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/10/USDCHF-DAILY-22102016.png\"><img class=\"aligncenter size-large wp-image-8508\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/10/USDCHF-DAILY-22102016-1024x477.png\" alt=\"usdchf-daily-22102016\" width=\"1024\" height=\"477\" /></a>\r\n\r\nUSD/JPY - Weekly Closing Price: 103.82\r\n\r\n<u><a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/10/USDJPY-DAILY-21102016.png\"><img class=\"aligncenter size-large wp-image-8509\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/10/USDJPY-DAILY-21102016-1024x477.png\" alt=\"usdjpy-daily-21102016\" width=\"1024\" height=\"477\" /></a></u>\r\n\r\n<u> </u>\r\n\r\n<u>THIS COMING WEEK - THE NON-USD MAJORS PAIRS (MY THOUGHTS):</u>\r\n\r\nNot wanting to give away too much in this section as this overlaps with commentary that PREMIUM SERVICE SUBSCRIBERS receive in section 5.\r\n\r\nI am maintaining positions with EUR/GBP, EUR/CHF, GBP/CHF and AUD/NZD.\r\n\r\nOther non USD majors that are on my RADAR are: -\r\n\r\nGBP crosses. When cable makes its next break lower, should we test and break lower than 1.2000, I will then be starting to look for reversal moves back with the crosses.\r\n\r\nThe JPY pairs are on my RADAR. The PREMIUM SERVICE is currently long USD/JPY and I am looking to add additional JPY cross-rate pairs once the USD/JPY breaks above 104.60. I haven’t decided exactly which pairs, but I can definitely say that it will NOT involve the GBP/JPY for obvious reasons and the EUR/JPY could also be excluded.\r\n\r\n<strong> </strong>\r\n<ol start=\"5\">\r\n 	<li><strong> PREMIUM SERVICE SUBSCRIBER EXCLUSIVE CONTENT AREA:</strong></li>\r\n</ol>\r\nMARKET TRADING REVIEW:\r\n\r\nLooking forward, I am still going to remain active with EUR/GBP, GBP/CHF, EUR/CHF and AUD/NZD.\r\n\r\nMy BREXIT associated trades with EUR/GBP and GBP/CHF are both under water at the moment, however I am happy to sit in these trades. Fundamentally, as I have already stated it is matter of when rather than if the GBP will resume its move lower. Fundamentally, the uncertainty and timescales involving the BREXIT have not altered and all we are doing in most GBP related pairs is really consolidating the recent large moves that took place following the recent cable crash.\r\n\r\nMany pundits are talking about reversal trades and these should not be dismissed but price action in the GBP/USD looks heavy and we should bear in mind that whilst we hover well within a day’s ATR of the confirmed post flash crash lows it is a dangerous game to claim a reversal without the lows being tested first.\r\n\r\nThe EUR/CHF, I am just sitting in this one and I am confident that Mr. Jordan at the SNB will be ready to play should we strengthen too much. This is a longer term trade for me.\r\n\r\nThe AUD/NZD I have been trading this pair all year. At my peak I was holding seven trades all long this pair. I have been trading in and out of mini ranges all year banking profits along the way. This is my ultimate long term POSITION TRADE. I am happy to sit with this one.\r\n\r\nThe USD/CHF looks like a run to parity and beyond is on the cards, but will it actually happen? It really depends upon the price action with the EUR/USD. I had expected a full-on breakdown through 1.1000 and I was gob-smacked when the single currency reacted to Draghi last week the way it did.\r\n\r\nThe USD/JPY, I feel has a 100.00 run in it. If this pair weakened substantially this would in turn help the DXY move upwards. The USD/CHF would hit parity and the EUR/USD would be testing 1.0750.\r\n\r\nGBP/USD to 1.2000 or even 1.1500? We are consolidating at the moment. Remember, we are at 30 year lows, so we should consolidate before resuming the trend lower. Whilst we have uncertainty the move should in my opinion be lower.\r\n\r\nThe Head and Shoulders pattern with the NZD/USD is STILL frustrating to play out. The breakout higher with the AUD/NZD has stalled because the AUD/USD had a false breakout above 0.7710 and the NZD/USD just will not fall at any great pace even with the head and shoulders pattern in play.\r\n\r\nFrom a pip perspective last week was a virtually flat week. We get this from time to time and I am not going to get drawn into analysis in any depth on performances broken down by week. The trend is up and the trend is good. This is a long-term business not a short term reaction.\r\n\r\n&nbsp;\r\n\r\nADDITIONAL BROKER ACCOUNTS:\r\n\r\nAs we get nearer to the end of 2016, if any of you are considering adding an additional broker or two to keep PREMIUM SERVICE trades separate or maybe break down into TRADE STYLES, please note that the deals, offers etc. that brokers will be using to attract new clients will intensify.\r\n\r\nIf you are considering such a move please contact me so I can advise which of my brokers on my landing page are offering what.\r\n\r\nVANTAGE FX for example are charging nothing to deposit money into your broker account, whether the transfer in is by credit card or via bank transfer. My account manager David Bily is probably one of the best account managers that I have come across. VANTAGE FX also gives you an edge with 5PM eastern NZD news.\r\n\r\n&nbsp;\r\n\r\nPERISCOPE (UPDATE):\r\n\r\nApart from my microphone, which is coming via Amazon all my Apple stuff is here at the house and I am hoping that early next week I can do some tests and then formalize things moving forward.\r\n\r\nI have had several emails and tweets on the subject, all positive so I cannot wait to get going, hoping that I can master the software!!\r\n\r\nMy wife and I are STILL having issues with the latest mac software update to Safari called Sierra. It is still a painful transition; there are lots of bugs around email. If you connect via webmail basically there are no problems but if you use the Apple mailbox to collect all your emails in one location, it has been really painful. One iMac is OK. My MacBook Air is fine but my new iMac is a disaster. I could speak to apple and waste away my life on a daily basis with the mail client issues.\r\n\r\nSo I am hoping that PREISCOPE will be painless for me.\r\n\r\nMy proposal is initially to do a 30-minute presentation on a Monday afternoon my time about 2PM EST.\r\n\r\nI can be totally flexible with this time. If anyone wants to have a PERISCOPE session and this time is difficult please advise so I can review.\r\n\r\n<strong> </strong>\r\n\r\n<strong>TRADES REVIEW:</strong>\r\n\r\nThe excel spreadsheets below details current LIVE and pending LIMIT ORDER trades: -\r\n\r\n<u><a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/10/LIVE-TRADES2-22102016.png\"><img class=\"aligncenter size-large wp-image-8502\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/10/LIVE-TRADES2-22102016-793x1024.png\" alt=\"live-trades2-22102016\" width=\"793\" height=\"1024\" /></a></u>\r\n\r\n<u> </u>\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/10/LIMIT-ORDERS-22102016.png\"><img class=\"aligncenter size-large wp-image-8500\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/10/LIMIT-ORDERS-22102016-728x1024.png\" alt=\"limit-orders-22102016\" width=\"728\" height=\"1024\" /></a>\r\n\r\n&nbsp;\r\n<ol start=\"6\">\r\n 	<li><strong> MY CLOSING THOUGHTS:</strong></li>\r\n</ol>\r\nNot a lot of events are scheduled this week with regards to the Economic calendar. This does not mean that we can be complacent.\r\n\r\nThere are plenty of geopolitical events to keep the markets fluid through the European and North American sessions: - OIL, BREXIT and the U.S. Presidential Election to name three of them. Add to these the FED and its (assumed) desire to raise U.S. interest rates and we have enough uncertainties to deal with.\r\n\r\nDo not get suckered into believing the market is moving strongly in one direction. It can and does change in an instant. We are close to several range extremes, which increases volatility and the number of false moves. Remain careful and vigilant.\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,\r\n\r\nScott Pickering\r\nThe Pip Accumulator\r\n<a href=\"http://weeklyfxdrivethru.com/disclaimer/\">http://weeklyfxdrivethru.com/disclaimer/\r\n</a>BLOG VERSION: #116 PREMIUM SERVICE\r\nDATE: 22<sup>nd</sup> October 2016.','MARIO DRAGHI – “PULL THE OTHER ONE”','','inherit','closed','closed','','8511-revision-v1','','','2016-10-22 11:15:06','2016-10-22 16:15:06','',8511,'http://weeklyfxdrivethru.com/8511-revision-v1/',0,'revision','',0),(8513,1,'2016-10-22 11:17:08','2016-10-22 16:17:08','<strong> </strong>\r\n<ol>\r\n 	<li><strong> INTRODUCTION:</strong></li>\r\n</ol>\r\nLast week I will remember well for the trades that either just missed hitting my price point to enter or for a few trades that I cancelled that I should have left in place. My trading around the ECB press conference was bad. Once again I just wish that I could have been blessed with that wonderful thing that we all wished we had in abundance… hindsight. All trades combined, I missed out on about 600 pips. I stopped counting as it was just annoying me. The positive from all of this was of course that I did not lose any pips or $$$. However, to once and for all erase these 24 hours from my memory I would just like to write…bugger!!\r\n\r\nAs I tell subscribers it’s not how we fall down, it’s how we learn from the experience and how we get back up and get back into the trading cycle.\r\n\r\nMoving on…\r\n\r\nA few, but, not many positive responses to the subtle changes to the blog format. A couple of negatives were also received. For now, I am not inclined to change anything and this structure will remain in play until the year end at least. At that time during the Christmas break I will be looking at all communications that I am currently involved with and those I want to get involved with.\r\n\r\nJust a quick reminder; each month, I am giving away a FREE PREMIUM SERVICE 4-week subscription. This gives the winner 100% access to the PREMIUM SERVICE website and ALL my PREMIUM SERVICE communications from my suggested trade set-ups to market commentaries and my thoughts.\r\n\r\nTo stand a chance of being the next subscription winner, you need to subscribe to receive this free blog via my website <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a><strong>  </strong>\r\n\r\nYou are automatically entered into a free monthly draw, once you’ve subscribed. Each month one lucky blog subscriber will receive a free subscription to the PREMIUM SERVICE.\r\n\r\n<strong> </strong>\r\n<ol start=\"2\">\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 the various trade styles plus 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 credit card.\r\n\r\n<u>PREMIUM SERVICE SUBSCRIPTION COSTS:</u>\r\n\r\nDetails of features and benefits of a PREMIUM SERVICE subscription can be found on my website landing page at <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a> under the dropdown tab at the top of the page entitled HISTORY &amp; PERFORMANCE OF THE PREMIUM SERVICE. To subscribe follow the SUBSCRIBE HERE tab.\r\n\r\nPREMIUM SERVICE subscription costs are as follows: -\r\n\r\nCAD$240.00 - 4 weeks (1 month)\r\nCAD$500.00 - 10 weeks (3 months)\r\nCAD$750.00 - 20 weeks (6 months)\r\nCAD$1,250.00 - 40 weeks (12 months)\r\n<u>PLUS</u>: Existing PLATINUM MEMBERS (annual subscribers) can re-subscribe for a further 12 months for CAD$1,000.00\r\n\r\nI work for about 40 weeks a year. Subscriptions are based on 40 published blogs of the WEEKLY FX DRIVE THRU per year. For the remaining 10 weeks, I am around tweeting, posting and managing existing LIVE trades, although my market activity is reduced.\r\n\r\n<u>PREMIUM SERVICE PERFORMANCE:</u>\r\n\r\nPRESENT AND HISTORICAL QUICK PREMIUM SERVICE STATS:\r\n\r\nNET PIPS THIS MONTH SO FAR:            +2,118 pips\r\nNET PIPS 2016 TO DATE:              +11,103 pips\r\n\r\nNET PIPS 2015:       +10,686 pips\r\nNET PIPS 2014:       +11,209 pips\r\n\r\nIf you would like supporting data or detail about the performance and the tabs on my website landing page at <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a> do not answer your questions, contact me directly and I will supply the trading data you require. There are NO secrets. There are many, many spreadsheets detailing performance trade by trade and by trade and by trading style, way too many to place in this blog. If you are interested in the PREMIUM SERVICE and want more information, all you have to do is ask.\r\n\r\n<strong> </strong>\r\n<ol start=\"3\">\r\n 	<li><strong> LOOKING BACKWARDS: THE FX MARKET PLACE</strong></li>\r\n</ol>\r\n<strong>LAST WEEK’S FOREX and ECONOMIC NEWS – MY VIEWS:</strong>\r\n\r\nFrom last week there was one standout for me: -\r\n\r\nTHE ECB PRESS CONFERENCE:\r\n\r\nSo this time the markets reacted positively to Mario Draghi. The single currency is now at its lowest level since May this year and it could be off to test the March 2015 lows of 1.0450.\r\n\r\nSo here is my take…\r\n\r\nApart from the fact I had a nose bleed as the markets actually reacted probably correctly to Draghi’s dovish commentary for once, in all honesty, do you believe that an ECB two-day board meeting with the current stimulus program ending in less than six months had no discussion on how to end the program or about extending the end date?\r\n\r\nMario Draghi stated that neither were mentioned. Well…  glaze my nipples and call me Rita!  Pull the other one. Was Draghi talking bulls**t, cows**t or camels**t?\r\n\r\nIn the name of sanity are we the unwashed expected to believe this?\r\n\r\nOf course the ECB board discussed it. If it’s not a meeting agenda issue for every ECB policy meeting it damn well should be.\r\n\r\nDraghi has suggested further easing in December and this may have been what weakened the EUR/USD. However, I am, more in the camp that the USD, which is strong at the moment and on one hell of a bull run was just looking for any reason to push higher and this was an opportunity. For me, this move on Draghi’s “grand day out” was more about the USD than the EUR.\r\n\r\nIs the ECB QE (Quantitative Easing) program going to conclude in March 2017? Very unlikely in my opinion, it will probably be extended by at least six months to September 2017.\r\n\r\nNot that it really matters to us as traders, but has the QE program worked for Draghi?\r\n\r\nIt pist off Wolfgang Schaeuble the German Chancellor, so if that was a goal for Draghi (it would have been for me), job done… I jest and mock.\r\n\r\nBack on point…\r\n\r\nVery simply, not really, by any stretch. It never really addressed or weakened the single currency to promote EUROZONE exports. Consumer prices never really got a boost from QE.\r\n\r\nI think it will be extended and on the basis that several months ago Mario Draghi stated that the fiscal stimulus should also be used along with the monetary policy initiatives from the ECB to move the member states economies forward, as far as I can, see bugger all has been done by the member states in this regard. Politicians inside the EUROZONE are only bleating about BREXIT instead. So there is still much to do in my opinion.\r\n\r\nThe QE program as a stand-alone has had questionable success and the fact the EUROZONE leaders cannot unify and fiscally address issues says it all. Continued can-kicking and crisis led management will continue to be the order of the day. Those leaders inside the EUROZONE believing that Mario Draghi could somehow wave a magic wand over EUROPE and fix things are in cuckoo land. To his credit Draghi has stopped the hemorrhaging but I doubt it\'s a permanent fix by and stretch of the imagination.\r\n\r\nThe EUROZONE has deep-rooted issues beyond the scope of the country leaders and the bureaucratic Brussels operation is only full of desk sucking, pen pushing jotter blotters, who are merely a drain on running costs of the EUROPEAN UNION. They are not initiators just a cost, and a huge cost.\r\n\r\nMoving back to the currency movement after the announcement….\r\n\r\nThink back when Mario Draghi launched the €80 million per month start of the QE program, the EUR/USD rallied upwards about 200 pips on the day. If you recall he launched the program and said to the press contingent gathered “That’s it” …and on the day “THAT WAS IT” for the single currency it strengthened rather than weakened across the board. I think in delivery of news terms we call that a f*ck up…. in meetings I refer to it this when having policy meetings as “I do not want to do a Draghi!!”\r\n\r\nLast week, obviously, Mario Draghi decided not to comment and took the tight lipped approach.\r\n\r\nLet me re-iterate, I believe that last week it was more about the USD rather than the EUR. There is a market realism creeping in that the FED will raise interest rates this December. I think that any excuse to buy USD is being taken at the moment, especially with the DXY heading back at a rapid rate towards the 99.00 level (See the DXY chart below).\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/10/DXY-MONTHLY-CHART-22102016.png\"><img class=\"aligncenter size-large wp-image-8510\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/10/DXY-MONTHLY-CHART-22102016-1024x499.png\" alt=\"dxy-monthly-chart-22102016\" width=\"1024\" height=\"499\" /></a>\r\n\r\n&nbsp;\r\n\r\nBREXIT:\r\n\r\nThe focus this week has been interesting to say the least. On one hand, we have seen UK Chancellor Philip Hammond defending the future role, and, to some on lookers, the very continued existence of the City of London financial district remaining a powerhouse. Whilst on the other hand Prime Minister Theresa May along with Brexit secretary David Davis spouting ahead of a Brussels wine and cheese ECB ministers meeting, about the flow of labour into the UK.\r\n\r\nThe posturing is inevitable. BREXIT negotiations will not start yet and all the key lines in the sand need to be out there so that all parties can start with their own lines in the sand as well.\r\n\r\nThe upshot of all of this is that rhetoric will remain very high for the foreseeable future and it is in my opinion not a question of if but when is the GBP/USD going to test the flash crash lows from the hourly chart that followed the crash as that is one that everyone can agree on…. that level is 1.2085.\r\n\r\nIt will be tested at some time and the 1.2000 level is an obvious target to follow. We are trading around 1.2200 so it is all within a day’s striking distance without any problem at all.\r\n\r\n&nbsp;\r\n\r\nBOC RATE DECISION &amp; PRESS CONFERENCE:\r\n\r\nMy views and comments about Stephen Poloz the governor of the BOC are well documented.\r\n\r\nNo surprises for me this month at all. I have gone on record by stating that the BOC operates behind the curve and is 100% reactionary.\r\n\r\nLast Friday’s Retail Sales numbers were a poor miss. As I have already stated there is an undercurrent of poor confidence in the economy as recent tightening in housing starts to bite. Canada is not in any way shape or form comparable to the London UK market, but homeowners anywhere in the world DO NOT like hearing or reading that house prices are falling. It effects outlook.\r\n\r\nPoloz has to deal with this moving forward. Next the consumer confidence numbers will move lower and then he has a real problem to deal with.\r\n\r\nThe head in the sand approach hoping issues will go away has suited him this year when you look back. Moving forward he will need to implement stimulus to the economy either by an interest cut or by something inventive to keep money moving.\r\n\r\nHe kept interest rates on hold at 0.50% and talked dovishly last Thursday. But there will come a time sooner rather than later that will require action rather than commentary in my opinion.\r\n\r\n&nbsp;\r\n\r\nTHE U.S. PRESIDENTIAL ELECTION:\r\n\r\nThe circus continues… what can I add that hasn’t already been written or spoken about on TV?\r\n\r\nIt is a joke. The whole world is laughing at the U.S. over this reality show and the U.S. doesn\'t even realize this.\r\n\r\nI probably shouldn’t write this, but it’s my blog…\r\n\r\nComing initially from the UK, the BBC is largely unbiased in the way it presents news, especially political news.\r\n\r\nLiving in Canada, we receive U.S. TV stations and we get via our cable a lot of news stations. Frankly neither candidate (GROPER or CROOKED) does it for me, I think if that is this is the best that the U.S. political system can present the U.S. as the next president, it is in deep shit moving forward, and the misfits on the hill will just continue to abuse their positions, nothing will get done and the party political lines will remain as is moving forward. This of course does also affect the rest of the world as the U.S. president also claims the title of the leader of the free world…. God help us all.\r\n\r\nThat aside…\r\n\r\nCNN, which is a one-sided 100% biased presentation and coverage of the election, has for the past six months or so had a revolving panel of guests (6 or 8 at a time) squabbling over the candidates said or did this, that, or the other. There has been virtually no other news on the station. Yet it still calls itself the “first in news”.\r\n\r\nIs it any wonder that education in the U.S. is so poor?\r\nIs it any wonder extremes blossom in the U.S. society?\r\n\r\nPeople believe more of what they watch than they read. They are being fed crap by CNN. Viewers are down because the programming is poor. They never get behind the news. To combat lower viewers CNN is diverting hugely away from news. They now have 60 minute programs to fill the overnight and late evening slots.\r\n\r\nCNBC gave up financial market news 24 hours a day because it only wants good news and bulls on the station talking to viewers. People wanted realism. They moved away from CNBC. You only have to look at how CNBC conducted itself at one of the Republican debates, it was a shambles and the GOP vowed never to give them a debate ever again.\r\n\r\nBoth CNBC and CNN cannot give an unbiased opinion. They believe their viewers are of a lower intelligence, so you feed them what the station wants them to be fed on and fill in the gaps with programming that has NOTHING to do with the core channel mission statement.\r\n\r\nReality TV is filling the voids left from normal programming. This is the future. DONALD TRUMP is running a reality TV style campaign and these stations feed off this because it generates ad revenues.\r\n\r\nEducation, unbiased coverage, behind the facts journalism, what the feck do these things mean and where do they fit it? These are things from the past, long gone, never to return. Where are the facts in this reality TV debate?\r\n\r\nIs it any wonder trading is so jittery and full of false moves based on sound-bytes. As our Nobel prize guy says “The times they are-a-changing”… in fact they have already changed and I doubt that they will be coming back.\r\n\r\n&nbsp;\r\n<ol start=\"4\">\r\n 	<li><strong> LOOKING FORWARDS:</strong><strong> </strong></li>\r\n</ol>\r\n<strong>THIS WEEK’S FOREX and ECONOMIC NEWS – MY VIEWS:</strong><strong> </strong>\r\n\r\n<u>THIS WEEK’S FOREX NEWS THAT INTERESTS ME:</u>\r\n\r\n(There are many more news items related to the Forex Market other than the ones listed below. These are the ones that interest me. You can go to <a href=\"http://www.forexfactory.com\">www.forexfactory.com</a> and <a href=\"http://www.tradingeconomics.com\">www.tradingeconomics.com</a> for a more comprehensive lists of all news events that are Forex related).\r\n\r\nSUNDAY: N/A.\r\n\r\nMONDAY: N/A.\r\n\r\nTUESDAY: GBP – BOE Mark Carney speaks.\r\nTUESDAY: EUR – ECB Mario Draghi speaks.\r\nTUESDAY: AUD - CPi.\r\n\r\nWEDNESDAY: GBP – Preliminary GDP.\r\n\r\nTHURSDAY: N/A.\r\n\r\nFRIDAY: USD – Advance GDP.\r\n\r\nEconomic timed data releases are a little light this coming week.\r\n\r\nThe standouts will be Mark Carney and Mario Draghi both this coming Tuesday.\r\n\r\nMark Carney is addressing a House of Lords committee on the Economic Consequences to the UK of the BREXIT and Mario Draghi is addressing the DIW Economic Institute in Berlin on ECB policies. Both items have the ability to move the markets.\r\n\r\n<u>FOREX TRADING IN GENERAL TERMS THIS WEEK:</u>\r\n\r\nWithout getting drawn into too many specifics, because that is what the PREMIUM SERVICE is for.\r\n\r\nLook at all the closing daily and in many cases weekly candles across a broad section of currency pairs, but especially those linked to the USD. There are some powerful moves afoot that should see momentum carrying on into the start of this week in many, many cases.\r\n\r\nThe only issue that I have is that the Asian sessions are fraught with potential miss-leading moves due to thin trading and extremely low liquidity. If you are already in positions, it’s all about managing these positions through the initial Asian session in Europe. In the European session should the USD still be well bid there are opportunities to add and tighten up stops to protect some profits.\r\n\r\nIf you are looking to establish positions, I would wait until the European session. The first trading session of the week, reacting to the weekends news events can offer up more than you bargained for by way of volatility. Just because we have a string of what look like powerful prior week closing candles, recent events will take priority regardless and to have strength in your trade, in my opinion, I would wait a few hours for London to start.\r\n\r\n&nbsp;\r\n\r\n<u>THIS COMING WEEK - THE USD MAJORS (MY THOUGHTS): </u>\r\n\r\n(In this section I have as usual kept my charts as minimalist as possible. With regards to charting in my opinion less is more!! I hope that they are clear. All readers regardless of level of experience should be able to follow my thoughts from my comments to the levels on the charts with ease)\r\n\r\nMy comments are contained on the charts.\r\n\r\nEUR/USD - Weekly Closing Price: 1.0882\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/10/EURUSD-WEEKLY-21102016.png\"><img class=\"aligncenter size-large wp-image-8504\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/10/EURUSD-WEEKLY-21102016-1024x477.png\" alt=\"eurusd-weekly-21102016\" width=\"1024\" height=\"477\" /></a>\r\n\r\nGBP/USD - Weekly Closing Price: 1.2227\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/10/GBPUSD-WEEKLY-22102016.png\"><img class=\"aligncenter size-large wp-image-8505\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/10/GBPUSD-WEEKLY-22102016-1024x477.png\" alt=\"gbpusd-weekly-22102016\" width=\"1024\" height=\"477\" /></a>\r\n\r\nAUD/USD - Weekly Closing Price: 0.7604\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/10/AUDUSD-WEEKLY-21102016.png\"><img class=\"aligncenter size-large wp-image-8503\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/10/AUDUSD-WEEKLY-21102016-1024x477.png\" alt=\"audusd-weekly-21102016\" width=\"1024\" height=\"477\" /></a>\r\n\r\nNZD/USD - Weekly Closing Price: 0.7163\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/10/NZDUSD-DAILY-21102016.png\"><img class=\"aligncenter size-large wp-image-8506\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/10/NZDUSD-DAILY-21102016-1024x477.png\" alt=\"nzdusd-daily-21102016\" width=\"1024\" height=\"477\" /></a>\r\n\r\nUSD/CAD - Weekly Closing Price: 1.3333\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/10/USDCAD-WEEKLY-21102016.png\"><img class=\"aligncenter size-large wp-image-8507\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/10/USDCAD-WEEKLY-21102016-1024x477.png\" alt=\"usdcad-weekly-21102016\" width=\"1024\" height=\"477\" /></a>\r\n\r\nUSD/CHF - Weekly Closing Price: 0.9932\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/10/USDCHF-DAILY-22102016.png\"><img class=\"aligncenter size-large wp-image-8508\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/10/USDCHF-DAILY-22102016-1024x477.png\" alt=\"usdchf-daily-22102016\" width=\"1024\" height=\"477\" /></a>\r\n\r\nUSD/JPY - Weekly Closing Price: 103.82\r\n\r\n<u><a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/10/USDJPY-DAILY-21102016.png\"><img class=\"aligncenter size-large wp-image-8509\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/10/USDJPY-DAILY-21102016-1024x477.png\" alt=\"usdjpy-daily-21102016\" width=\"1024\" height=\"477\" /></a></u>\r\n\r\n<u> </u>\r\n\r\n<u>THIS COMING WEEK - THE NON-USD MAJORS PAIRS (MY THOUGHTS):</u>\r\n\r\nNot wanting to give away too much in this section as this overlaps with commentary that PREMIUM SERVICE SUBSCRIBERS receive in section 5.\r\n\r\nI am maintaining positions with EUR/GBP, EUR/CHF, GBP/CHF and AUD/NZD.\r\n\r\nOther non USD majors that are on my RADAR are: -\r\n\r\nGBP crosses. When cable makes its next break lower, should we test and break lower than 1.2000, I will then be starting to look for reversal moves back with the crosses.\r\n\r\nThe JPY pairs are on my RADAR. The PREMIUM SERVICE is currently long USD/JPY and I am looking to add additional JPY cross-rate pairs once the USD/JPY breaks above 104.60. I haven’t decided exactly which pairs, but I can definitely say that it will NOT involve the GBP/JPY for obvious reasons and the EUR/JPY could also be excluded.\r\n\r\n<strong> </strong>\r\n<ol start=\"5\">\r\n 	<li><strong> PREMIUM SERVICE SUBSCRIBER EXCLUSIVE CONTENT AREA:</strong></li>\r\n</ol>\r\nMARKET TRADING REVIEW:\r\n\r\nLooking forward, I am still going to remain active with EUR/GBP, GBP/CHF, EUR/CHF and AUD/NZD.\r\n\r\nMy BREXIT associated trades with EUR/GBP and GBP/CHF are both under water at the moment, however I am happy to sit in these trades. Fundamentally, as I have already stated it is matter of when rather than if the GBP will resume its move lower. Fundamentally, the uncertainty and timescales involving the BREXIT have not altered and all we are doing in most GBP related pairs is really consolidating the recent large moves that took place following the recent cable crash.\r\n\r\nMany pundits are talking about reversal trades and these should not be dismissed but price action in the GBP/USD looks heavy and we should bear in mind that whilst we hover well within a day’s ATR of the confirmed post flash crash lows it is a dangerous game to claim a reversal without the lows being tested first.\r\n\r\nThe EUR/CHF, I am just sitting in this one and I am confident that Mr. Jordan at the SNB will be ready to play should we strengthen too much. This is a longer term trade for me.\r\n\r\nThe AUD/NZD I have been trading this pair all year. At my peak I was holding seven trades all long this pair. I have been trading in and out of mini ranges all year banking profits along the way. This is my ultimate long term POSITION TRADE. I am happy to sit with this one.\r\n\r\nThe USD/CHF looks like a run to parity and beyond is on the cards, but will it actually happen? It really depends upon the price action with the EUR/USD. I had expected a full-on breakdown through 1.1000 and I was gob-smacked when the single currency reacted to Draghi last week the way it did.\r\n\r\nThe USD/JPY, I feel has a 100.00 run in it. If this pair weakened substantially this would in turn help the DXY move upwards. The USD/CHF would hit parity and the EUR/USD would be testing 1.0750.\r\n\r\nGBP/USD to 1.2000 or even 1.1500? We are consolidating at the moment. Remember, we are at 30 year lows, so we should consolidate before resuming the trend lower. Whilst we have uncertainty the move should in my opinion be lower.\r\n\r\nThe Head and Shoulders pattern with the NZD/USD is STILL frustrating to play out. The breakout higher with the AUD/NZD has stalled because the AUD/USD had a false breakout above 0.7710 and the NZD/USD just will not fall at any great pace even with the head and shoulders pattern in play.\r\n\r\nFrom a pip perspective last week was a virtually flat week. We get this from time to time and I am not going to get drawn into analysis in any depth on performances broken down by week. The trend is up and the trend is good. This is a long-term business not a short term reaction.\r\n\r\n&nbsp;\r\n\r\nADDITIONAL BROKER ACCOUNTS:\r\n\r\nAs we get nearer to the end of 2016, if any of you are considering adding an additional broker or two to keep PREMIUM SERVICE trades separate or maybe break down into TRADE STYLES, please note that the deals, offers etc. that brokers will be using to attract new clients will intensify.\r\n\r\nIf you are considering such a move please contact me so I can advise which of my brokers on my landing page are offering what.\r\n\r\nVANTAGE FX for example are charging nothing to deposit money into your broker account, whether the transfer in is by credit card or via bank transfer. My account manager David Bily is probably one of the best account managers that I have come across. VANTAGE FX also gives you an edge with 5PM eastern NZD news.\r\n\r\n&nbsp;\r\n\r\nPERISCOPE (UPDATE):\r\n\r\nApart from my microphone, which is coming via Amazon all my Apple stuff is here at the house and I am hoping that early next week I can do some tests and then formalize things moving forward.\r\n\r\nI have had several emails and tweets on the subject, all positive so I cannot wait to get going, hoping that I can master the software!!\r\n\r\nMy wife and I are STILL having issues with the latest mac software update to Safari called Sierra. It is still a painful transition; there are lots of bugs around email. If you connect via webmail basically there are no problems but if you use the Apple mailbox to collect all your emails in one location, it has been really painful. One iMac is OK. My MacBook Air is fine but my new iMac is a disaster. I could speak to apple and waste away my life on a daily basis with the mail client issues.\r\n\r\nSo I am hoping that PERISCOPE will be painless for me.\r\n\r\nMy proposal is initially to do a 30-minute presentation on a Monday afternoon my time about 2PM EST.\r\n\r\nI can be totally flexible with this time. If anyone wants to have a PERISCOPE session and this time is difficult please advise so I can review.\r\n\r\n<strong> </strong>\r\n\r\n<strong>TRADES REVIEW:</strong>\r\n\r\nThe excel spreadsheets below details current LIVE and pending LIMIT ORDER trades: -\r\n\r\n<u><a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/10/LIVE-TRADES2-22102016.png\"><img class=\"aligncenter size-large wp-image-8502\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/10/LIVE-TRADES2-22102016-793x1024.png\" alt=\"live-trades2-22102016\" width=\"793\" height=\"1024\" /></a></u>\r\n\r\n<u> </u>\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/10/LIMIT-ORDERS-22102016.png\"><img class=\"aligncenter size-large wp-image-8500\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/10/LIMIT-ORDERS-22102016-728x1024.png\" alt=\"limit-orders-22102016\" width=\"728\" height=\"1024\" /></a>\r\n\r\n&nbsp;\r\n<ol start=\"6\">\r\n 	<li><strong> MY CLOSING THOUGHTS:</strong></li>\r\n</ol>\r\nNot a lot of events are scheduled this week with regards to the Economic calendar. This does not mean that we can be complacent.\r\n\r\nThere are plenty of geopolitical events to keep the markets fluid through the European and North American sessions: - OIL, BREXIT and the U.S. Presidential Election to name three of them. Add to these the FED and its (assumed) desire to raise U.S. interest rates and we have enough uncertainties to deal with.\r\n\r\nDo not get suckered into believing the market is moving strongly in one direction. It can and does change in an instant. We are close to several range extremes, which increases volatility and the number of false moves. Remain careful and vigilant.\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,\r\n\r\nScott Pickering\r\nThe Pip Accumulator\r\n<a href=\"http://weeklyfxdrivethru.com/disclaimer/\">http://weeklyfxdrivethru.com/disclaimer/\r\n</a>BLOG VERSION: #116 PREMIUM SERVICE\r\nDATE: 22<sup>nd</sup> October 2016.','MARIO DRAGHI – “PULL THE OTHER ONE”','','inherit','closed','closed','','8511-revision-v1','','','2016-10-22 11:17:08','2016-10-22 16:17:08','',8511,'http://weeklyfxdrivethru.com/8511-revision-v1/',0,'revision','',0),(8514,1,'2016-10-22 11:39:54','2016-10-22 16:39:54','<strong> </strong>\r\n<ol>\r\n 	<li><strong> INTRODUCTION:</strong></li>\r\n</ol>\r\nLast week I will remember well for the trades that either just missed hitting my price point to enter or for a few trades that I cancelled that I should have left in place. My trading around the ECB press conference was bad. Once again I just wish that I could have been blessed with that wonderful thing that we all wished we had in abundance… hindsight. All trades combined, I missed out on about 600 pips. I stopped counting as it was just annoying me. The positive from all of this was of course that I did not lose any pips or $$$. However, to once and for all erase these 24 hours from my memory I would just like to write…bugger!!\r\n\r\nAs I tell subscribers it’s not how we fall down, it’s how we learn from the experience and how we get back up and get back into the trading cycle.\r\n\r\nMoving on…\r\n\r\nA few, but, not many positive responses to the subtle changes to the blog format. A couple of negatives were also received. For now, I am not inclined to change anything and this structure will remain in play until the year end at least. At that time during the Christmas break I will be looking at all communications that I am currently involved with and those I want to get involved with.\r\n\r\nJust a quick reminder; each month, I am giving away a FREE PREMIUM SERVICE 4-week subscription. This gives the winner 100% access to the PREMIUM SERVICE website and ALL my PREMIUM SERVICE communications from my suggested trade set-ups to market commentaries and my thoughts.\r\n\r\nTo stand a chance of being the next subscription winner, you need to subscribe to receive this free blog via my website <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a><strong>  </strong>\r\n\r\nYou are automatically entered into a free monthly draw, once you’ve subscribed. Each month one lucky blog subscriber will receive a free subscription to the PREMIUM SERVICE.\r\n\r\n<strong> </strong>\r\n<ol start=\"2\">\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 the various trade styles plus 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 credit card.\r\n<p style=\"text-align: center;\"><u>PREMIUM SERVICE SUBSCRIPTION COSTS:</u></p>\r\n<p style=\"text-align: center;\">Details of features and benefits of a PREMIUM SERVICE subscription can be found on my website landing page at <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a> under the dropdown tab at the top of the page entitled HISTORY &amp; PERFORMANCE OF THE PREMIUM SERVICE. To subscribe follow the SUBSCRIBE HERE tab.</p>\r\n<p style=\"text-align: center;\">PREMIUM SERVICE subscription costs are as follows: -</p>\r\n<p style=\"text-align: center;\">CAD$240.00 - 4 weeks (1 month)\r\nCAD$500.00 - 10 weeks (3 months)\r\nCAD$750.00 - 20 weeks (6 months)\r\nCAD$1,250.00 - 40 weeks (12 months)\r\n<u>PLUS</u>: Existing PLATINUM MEMBERS (annual subscribers) can re-subscribe for a further 12 months for CAD$1,000.00</p>\r\nI work for about 40 weeks a year. Subscriptions are based on 40 published blogs of the WEEKLY FX DRIVE THRU per year. For the remaining 10 weeks, I am around tweeting, posting and managing existing LIVE trades, although my market activity is reduced.\r\n<p style=\"text-align: center;\"><u> </u></p>\r\n<p style=\"text-align: center;\"><u>PREMIUM SERVICE PERFORMANCE:</u></p>\r\n<p style=\"text-align: center;\">PRESENT AND HISTORICAL QUICK PREMIUM SERVICE STATS:</p>\r\n<p style=\"text-align: center;\">NET PIPS THIS MONTH SO FAR:            +2,118 pips\r\nNET PIPS 2016 TO DATE:              +11,103 pips</p>\r\n<p style=\"text-align: center;\">NET PIPS 2015:       +10,686 pips\r\nNET PIPS 2014:       +11,209 pips</p>\r\n<p style=\"text-align: center;\">If you would like supporting data or detail about the performance and the tabs on my website landing page at <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a> do not answer your questions, contact me directly and I will supply the trading data you require. There are NO secrets. There are many, many spreadsheets detailing performance trade by trade and by trade and by trading style, way too many to place in this blog. If you are interested in the PREMIUM SERVICE and want more information, all you have to do is ask.</p>\r\n<p style=\"text-align: center;\"><strong> </strong></p>\r\n\r\n<ol start=\"3\">\r\n 	<li><strong> LOOKING BACKWARDS: THE FX MARKET PLACE</strong></li>\r\n</ol>\r\n<strong>LAST WEEK’S FOREX and ECONOMIC NEWS – MY VIEWS:</strong>\r\n\r\nFrom last week there was one standout for me: -\r\n\r\nTHE ECB PRESS CONFERENCE:\r\n\r\nSo this time the markets reacted positively to Mario Draghi. The single currency is now at its lowest level since May this year and it could be off to test the March 2015 lows of 1.0450.\r\n\r\nSo here is my take…\r\n\r\nApart from the fact I had a nose bleed as the markets actually reacted probably correctly to Draghi’s dovish commentary for once, in all honesty, do you believe that an ECB two-day board meeting with the current stimulus program ending in less than six months had no discussion on how to end the program or about extending the end date?\r\n\r\nMario Draghi stated that neither were mentioned. Well…  glaze my nipples and call me Rita!  Pull the other one. Was Draghi talking bulls**t, cows**t or camels**t?\r\n\r\nIn the name of sanity are we the unwashed expected to believe this?\r\n\r\nOf course the ECB board discussed it. If it’s not a meeting agenda issue for every ECB policy meeting it damn well should be.\r\n\r\nDraghi has suggested further easing in December and this may have been what weakened the EUR/USD. However, I am, more in the camp that the USD, which is strong at the moment and on one hell of a bull run was just looking for any reason to push higher and this was an opportunity. For me, this move on Draghi’s “grand day out” was more about the USD than the EUR.\r\n\r\nIs the ECB QE (Quantitative Easing) program going to conclude in March 2017? Very unlikely in my opinion, it will probably be extended by at least six months to September 2017.\r\n\r\nNot that it really matters to us as traders, but has the QE program worked for Draghi?\r\n\r\nIt pist off Wolfgang Schaeuble the German Chancellor, so if that was a goal for Draghi (it would have been for me), job done… I jest and mock.\r\n\r\nBack on point…\r\n\r\nVery simply, not really, by any stretch. It never really addressed or weakened the single currency to promote EUROZONE exports. Consumer prices never really got a boost from QE.\r\n\r\nI think it will be extended and on the basis that several months ago Mario Draghi stated that the fiscal stimulus should also be used along with the monetary policy initiatives from the ECB to move the member states economies forward, as far as I can, see bugger all has been done by the member states in this regard. Politicians inside the EUROZONE are only bleating about BREXIT instead. So there is still much to do in my opinion.\r\n\r\nThe QE program as a stand-alone has had questionable success and the fact the EUROZONE leaders cannot unify and fiscally address issues says it all. Continued can-kicking and crisis led management will continue to be the order of the day. Those leaders inside the EUROZONE believing that Mario Draghi could somehow wave a magic wand over EUROPE and fix things are in cuckoo land. To his credit Draghi has stopped the hemorrhaging but I doubt it\'s a permanent fix by and stretch of the imagination.\r\n\r\nThe EUROZONE has deep-rooted issues beyond the scope of the country leaders and the bureaucratic Brussels operation is only full of desk sucking, pen pushing jotter blotters, who are merely a drain on running costs of the EUROPEAN UNION. They are not initiators just a cost, and a huge cost.\r\n\r\nMoving back to the currency movement after the announcement….\r\n\r\nThink back when Mario Draghi launched the €80 million per month start of the QE program, the EUR/USD rallied upwards about 200 pips on the day. If you recall he launched the program and said to the press contingent gathered “That’s it” …and on the day “THAT WAS IT” for the single currency it strengthened rather than weakened across the board. I think in delivery of news terms we call that a f*ck up…. in meetings I refer to it this when having policy meetings as “I do not want to do a Draghi!!”\r\n\r\nLast week, obviously, Mario Draghi decided not to comment and took the tight lipped approach.\r\n\r\nLet me re-iterate, I believe that last week it was more about the USD rather than the EUR. There is a market realism creeping in that the FED will raise interest rates this December. I think that any excuse to buy USD is being taken at the moment, especially with the DXY heading back at a rapid rate towards the 99.00 level (See the DXY chart below).\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/10/DXY-MONTHLY-CHART-22102016.png\"><img class=\"aligncenter size-large wp-image-8510\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/10/DXY-MONTHLY-CHART-22102016-1024x499.png\" alt=\"dxy-monthly-chart-22102016\" width=\"1024\" height=\"499\" /></a>\r\n\r\n&nbsp;\r\n\r\nBREXIT:\r\n\r\nThe focus this week has been interesting to say the least. On one hand, we have seen UK Chancellor Philip Hammond defending the future role, and, to some on lookers, the very continued existence of the City of London financial district remaining a powerhouse. Whilst on the other hand Prime Minister Theresa May along with Brexit secretary David Davis spouting ahead of a Brussels wine and cheese ECB ministers meeting, about the flow of labour into the UK.\r\n\r\nThe posturing is inevitable. BREXIT negotiations will not start yet and all the key lines in the sand need to be out there so that all parties can start with their own lines in the sand as well.\r\n\r\nThe upshot of all of this is that rhetoric will remain very high for the foreseeable future and it is in my opinion not a question of if but when is the GBP/USD going to test the flash crash lows from the hourly chart that followed the crash as that is one that everyone can agree on…. that level is 1.2085.\r\n\r\nIt will be tested at some time and the 1.2000 level is an obvious target to follow. We are trading around 1.2200 so it is all within a day’s striking distance without any problem at all.\r\n\r\n&nbsp;\r\n\r\nBOC RATE DECISION &amp; PRESS CONFERENCE:\r\n\r\nMy views and comments about Stephen Poloz the governor of the BOC are well documented.\r\n\r\nNo surprises for me this month at all. I have gone on record by stating that the BOC operates behind the curve and is 100% reactionary.\r\n\r\nLast Friday’s Retail Sales numbers were a poor miss. As I have already stated there is an undercurrent of poor confidence in the economy as recent tightening in housing starts to bite. Canada is not in any way shape or form comparable to the London UK market, but homeowners anywhere in the world DO NOT like hearing or reading that house prices are falling. It effects outlook.\r\n\r\nPoloz has to deal with this moving forward. Next the consumer confidence numbers will move lower and then he has a real problem to deal with.\r\n\r\nThe head in the sand approach hoping issues will go away has suited him this year when you look back. Moving forward he will need to implement stimulus to the economy either by an interest cut or by something inventive to keep money moving.\r\n\r\nHe kept interest rates on hold at 0.50% and talked dovishly last Thursday. But there will come a time sooner rather than later that will require action rather than commentary in my opinion.\r\n\r\n&nbsp;\r\n\r\nTHE U.S. PRESIDENTIAL ELECTION:\r\n\r\nThe circus continues… what can I add that hasn’t already been written or spoken about on TV?\r\n\r\nIt is a joke. The whole world is laughing at the U.S. over this reality show and the U.S. doesn\'t even realize this.\r\n\r\nI probably shouldn’t write this, but it’s my blog…\r\n\r\nComing initially from the UK, the BBC is largely unbiased in the way it presents news, especially political news.\r\n\r\nLiving in Canada, we receive U.S. TV stations and we get via our cable a lot of news stations. Frankly neither candidate (GROPER or CROOKED) does it for me, I think if that is this is the best that the U.S. political system can present the U.S. as the next president, it is in deep shit moving forward, and the misfits on the hill will just continue to abuse their positions, nothing will get done and the party political lines will remain as is moving forward. This of course does also affect the rest of the world as the U.S. president also claims the title of the leader of the free world…. God help us all.\r\n\r\nThat aside…\r\n\r\nCNN, which is a one-sided 100% biased presentation and coverage of the election, has for the past six months or so had a revolving panel of guests (6 or 8 at a time) squabbling over the candidates said or did this, that, or the other. There has been virtually no other news on the station. Yet it still calls itself the “first in news”.\r\n\r\nIs it any wonder that education in the U.S. is so poor?\r\nIs it any wonder extremes blossom in the U.S. society?\r\n\r\nPeople believe more of what they watch than they read. They are being fed crap by CNN. Viewers are down because the programming is poor. They never get behind the news. To combat lower viewers CNN is diverting hugely away from news. They now have 60 minute programs to fill the overnight and late evening slots.\r\n\r\nCNBC gave up financial market news 24 hours a day because it only wants good news and bulls on the station talking to viewers. People wanted realism. They moved away from CNBC. You only have to look at how CNBC conducted itself at one of the Republican debates, it was a shambles and the GOP vowed never to give them a debate ever again.\r\n\r\nBoth CNBC and CNN cannot give an unbiased opinion. They believe their viewers are of a lower intelligence, so you feed them what the station wants them to be fed on and fill in the gaps with programming that has NOTHING to do with the core channel mission statement.\r\n\r\nReality TV is filling the voids left from normal programming. This is the future. DONALD TRUMP is running a reality TV style campaign and these stations feed off this because it generates ad revenues.\r\n\r\nEducation, unbiased coverage, behind the facts journalism, what the feck do these things mean and where do they fit it? These are things from the past, long gone, never to return. Where are the facts in this reality TV debate?\r\n\r\nIs it any wonder trading is so jittery and full of false moves based on sound-bytes. As our Nobel prize guy says “The times they are-a-changing”… in fact they have already changed and I doubt that they will be coming back.\r\n\r\n&nbsp;\r\n<ol start=\"4\">\r\n 	<li><strong> LOOKING FORWARDS:</strong><strong> </strong></li>\r\n</ol>\r\n<strong>THIS WEEK’S FOREX and ECONOMIC NEWS – MY VIEWS:</strong><strong> </strong>\r\n\r\n<u>THIS WEEK’S FOREX NEWS THAT INTERESTS ME:</u>\r\n\r\n(There are many more news items related to the Forex Market other than the ones listed below. These are the ones that interest me. You can go to <a href=\"http://www.forexfactory.com\">www.forexfactory.com</a> and <a href=\"http://www.tradingeconomics.com\">www.tradingeconomics.com</a> for a more comprehensive lists of all news events that are Forex related).\r\n\r\nSUNDAY: N/A.\r\n\r\nMONDAY: N/A.\r\n\r\nTUESDAY: GBP – BOE Mark Carney speaks.\r\nTUESDAY: EUR – ECB Mario Draghi speaks.\r\nTUESDAY: AUD - CPi.\r\n\r\nWEDNESDAY: GBP – Preliminary GDP.\r\n\r\nTHURSDAY: N/A.\r\n\r\nFRIDAY: USD – Advance GDP.\r\n\r\nEconomic timed data releases are a little light this coming week.\r\n\r\nThe standouts will be Mark Carney and Mario Draghi both this coming Tuesday.\r\n\r\nMark Carney is addressing a House of Lords committee on the Economic Consequences to the UK of the BREXIT and Mario Draghi is addressing the DIW Economic Institute in Berlin on ECB policies. Both items have the ability to move the markets.\r\n\r\n<u> </u>\r\n\r\n<u>FOREX TRADING IN GENERAL TERMS THIS WEEK:</u>\r\n\r\nWithout getting drawn into too many specifics, because that is what the PREMIUM SERVICE is for.\r\n\r\nLook at all the closing daily and in many cases weekly candles across a broad section of currency pairs, but especially those linked to the USD. There are some powerful moves afoot that should see momentum carrying on into the start of this week in many, many cases.\r\n\r\nThe only issue that I have is that the Asian sessions are fraught with potential miss-leading moves due to thin trading and extremely low liquidity. If you are already in positions, it’s all about managing these positions through the initial Asian session in Europe. In the European session should the USD still be well bid there are opportunities to add and tighten up stops to protect some profits.\r\n\r\nIf you are looking to establish positions, I would wait until the European session. The first trading session of the week, reacting to the weekends news events can offer up more than you bargained for by way of volatility. Just because we have a string of what look like powerful prior week closing candles, recent events will take priority regardless and to have strength in your trade, in my opinion, I would wait a few hours for London to start.\r\n\r\n&nbsp;\r\n\r\n<u>THIS COMING WEEK - THE USD MAJORS (MY THOUGHTS): </u>\r\n\r\n(In this section I have as usual kept my charts as minimalist as possible. With regards to charting in my opinion less is more!! I hope that they are clear. All readers regardless of level of experience should be able to follow my thoughts from my comments to the levels on the charts with ease)\r\n\r\nMy comments are contained on the charts.\r\n\r\nEUR/USD - Weekly Closing Price: 1.0882\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/10/EURUSD-WEEKLY-21102016.png\"><img class=\"aligncenter size-large wp-image-8504\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/10/EURUSD-WEEKLY-21102016-1024x477.png\" alt=\"eurusd-weekly-21102016\" width=\"1024\" height=\"477\" /></a>\r\n\r\nGBP/USD - Weekly Closing Price: 1.2227\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/10/GBPUSD-WEEKLY-22102016.png\"><img class=\"aligncenter size-large wp-image-8505\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/10/GBPUSD-WEEKLY-22102016-1024x477.png\" alt=\"gbpusd-weekly-22102016\" width=\"1024\" height=\"477\" /></a>\r\n\r\nAUD/USD - Weekly Closing Price: 0.7604\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/10/AUDUSD-WEEKLY-21102016.png\"><img class=\"aligncenter size-large wp-image-8503\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/10/AUDUSD-WEEKLY-21102016-1024x477.png\" alt=\"audusd-weekly-21102016\" width=\"1024\" height=\"477\" /></a>\r\n\r\nNZD/USD - Weekly Closing Price: 0.7163\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/10/NZDUSD-DAILY-21102016.png\"><img class=\"aligncenter size-large wp-image-8506\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/10/NZDUSD-DAILY-21102016-1024x477.png\" alt=\"nzdusd-daily-21102016\" width=\"1024\" height=\"477\" /></a>\r\n\r\nUSD/CAD - Weekly Closing Price: 1.3333\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/10/USDCAD-WEEKLY-21102016.png\"><img class=\"aligncenter size-large wp-image-8507\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/10/USDCAD-WEEKLY-21102016-1024x477.png\" alt=\"usdcad-weekly-21102016\" width=\"1024\" height=\"477\" /></a>\r\n\r\nUSD/CHF - Weekly Closing Price: 0.9932\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/10/USDCHF-DAILY-22102016.png\"><img class=\"aligncenter size-large wp-image-8508\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/10/USDCHF-DAILY-22102016-1024x477.png\" alt=\"usdchf-daily-22102016\" width=\"1024\" height=\"477\" /></a>\r\n\r\nUSD/JPY - Weekly Closing Price: 103.82\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/10/USDJPY-DAILY-21102016.png\"><img class=\"aligncenter size-large wp-image-8509\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/10/USDJPY-DAILY-21102016-1024x477.png\" alt=\"usdjpy-daily-21102016\" width=\"1024\" height=\"477\" /></a>\r\n\r\n<u> </u>\r\n\r\n<u>THIS COMING WEEK - THE NON-USD MAJORS PAIRS (MY THOUGHTS):</u>\r\n\r\nNot wanting to give away too much in this section as this overlaps with commentary that PREMIUM SERVICE SUBSCRIBERS receive in section 5.\r\n\r\nI am maintaining positions with EUR/GBP, EUR/CHF, GBP/CHF and AUD/NZD.\r\n\r\nOther non USD majors that are on my RADAR are: -\r\n\r\nGBP crosses. When cable makes its next break lower, should we test and break lower than 1.2000, I will then be starting to look for reversal moves back with the crosses.\r\n\r\nThe JPY pairs are on my RADAR. The PREMIUM SERVICE is currently long USD/JPY and I am looking to add additional JPY cross-rate pairs once the USD/JPY breaks above 104.60. I haven’t decided exactly which pairs, but I can definitely say that it will NOT involve the GBP/JPY for obvious reasons and the EUR/JPY could also be excluded.\r\n\r\n<strong> </strong><strong> </strong>\r\n<ol start=\"5\">\r\n 	<li><strong> PREMIUM SERVICE SUBSCRIBER EXCLUSIVE CONTENT AREA:</strong></li>\r\n</ol>\r\n<ol start=\"6\">\r\n 	<li><strong> MY CLOSING THOUGHTS:</strong></li>\r\n</ol>\r\nNot a lot of events are scheduled this week with regards to the Economic calendar. This does not mean that we can be complacent.\r\n\r\nThere are plenty of geopolitical events to keep the markets fluid through the European and North American sessions: - OIL, BREXIT and the U.S. Presidential Election to name three of them. Add to these the FED and its (assumed) desire to raise U.S. interest rates and we have enough uncertainties to deal with.\r\n\r\nDo not get suckered into believing the market is moving strongly in one direction. It can and does change in an instant. We are close to several range extremes, which increases volatility and the number of false moves. Remain careful and vigilant.\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,\r\n\r\nScott Pickering\r\nThe Pip Accumulator\r\n<a href=\"http://weeklyfxdrivethru.com/disclaimer/\">http://weeklyfxdrivethru.com/disclaimer/\r\n</a>BLOG VERSION: #219 FREE NEWSLETTER\r\nDATE: 22<sup>nd</sup> October 2016.','MARIO DRAGHI – “PULL THE OTHER ONE”','','publish','open','closed','','mario-draghi-pull-one','','','2016-10-22 11:39:54','2016-10-22 16:39:54','',0,'http://weeklyfxdrivethru.com/?p=8514',0,'post','',0),(8515,1,'2016-10-22 11:25:30','2016-10-22 16:25:30','<strong> </strong>\r\n<ol>\r\n 	<li><strong> INTRODUCTION:</strong></li>\r\n</ol>\r\nLast week I will remember well for the trades that either just missed hitting my price point to enter or for a few trades that I cancelled that I should have left in place. My trading around the ECB press conference was bad. Once again I just wish that I could have been blessed with that wonderful thing that we all wished we had in abundance… hindsight. All trades combined, I missed out on about 600 pips. I stopped counting as it was just annoying me. The positive from all of this was of course that I did not lose any pips or $$$. However, to once and for all erase these 24 hours from my memory I would just like to write…bugger!!\r\n\r\nAs I tell subscribers it’s not how we fall down, it’s how we learn from the experience and how we get back up and get back into the trading cycle.\r\n\r\nMoving on…\r\n\r\nA few, but, not many positive responses to the subtle changes to the blog format. A couple of negatives were also received. For now, I am not inclined to change anything and this structure will remain in play until the year end at least. At that time during the Christmas break I will be looking at all communications that I am currently involved with and those I want to get involved with.\r\n\r\nJust a quick reminder; each month, I am giving away a FREE PREMIUM SERVICE 4-week subscription. This gives the winner 100% access to the PREMIUM SERVICE website and ALL my PREMIUM SERVICE communications from my suggested trade set-ups to market commentaries and my thoughts.\r\n\r\nTo stand a chance of being the next subscription winner, you need to subscribe to receive this free blog via my website <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a><strong>  </strong>\r\n\r\nYou are automatically entered into a free monthly draw, once you’ve subscribed. Each month one lucky blog subscriber will receive a free subscription to the PREMIUM SERVICE.\r\n\r\n<strong> </strong>\r\n<ol start=\"2\">\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 the various trade styles plus 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 credit card.\r\n<p style=\"text-align: center;\"><u>PREMIUM SERVICE SUBSCRIPTION COSTS:</u></p>\r\n<p style=\"text-align: center;\">Details of features and benefits of a PREMIUM SERVICE subscription can be found on my website landing page at <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a> under the dropdown tab at the top of the page entitled HISTORY &amp; PERFORMANCE OF THE PREMIUM SERVICE. To subscribe follow the SUBSCRIBE HERE tab.</p>\r\n<p style=\"text-align: center;\">PREMIUM SERVICE subscription costs are as follows: -</p>\r\n<p style=\"text-align: center;\">CAD$240.00 - 4 weeks (1 month)\r\nCAD$500.00 - 10 weeks (3 months)\r\nCAD$750.00 - 20 weeks (6 months)\r\nCAD$1,250.00 - 40 weeks (12 months)\r\n<u>PLUS</u>: Existing PLATINUM MEMBERS (annual subscribers) can re-subscribe for a further 12 months for CAD$1,000.00\r\n\r\nI work for about 40 weeks a year. Subscriptions are based on 40 published blogs of the WEEKLY FX DRIVE THRU per year. For the remaining 10 weeks, I am around tweeting, posting and managing existing LIVE trades, although my market activity is reduced.</p>\r\n<p style=\"text-align: center;\"><u> </u></p>\r\n<p style=\"text-align: center;\"><u>PREMIUM SERVICE PERFORMANCE:</u></p>\r\n<p style=\"text-align: center;\">PRESENT AND HISTORICAL QUICK PREMIUM SERVICE STATS:\r\n</p>\r\n<p style=\"text-align: center;\">NET PIPS THIS MONTH SO FAR:            +2,118 pips\r\nNET PIPS 2016 TODATE:              +11,103 pips</p>\r\n<p style=\"text-align: center;\">NET PIPS 2015:       +10,686 pips\r\nNET PIPS 2014:       +11,209 pips</p>\r\n<p style=\"text-align: center;\">If you would like supporting data or detail about the performance and the tabs on my website landing page at <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a> do not answer your questions, contact me directly and I will supply the trading data you require. There are NO secrets. There are many, many spreadsheets detailing performance trade by trade and by trade and by trading style, way too many to place in this blog. If you are interested in the PREMIUM SERVICE and want more information, all you have to do is ask.</p>\r\n<p style=\"text-align: center;\"><strong> </strong></p>\r\n\r\n<ol start=\"3\">\r\n 	<li><strong> LOOKING BACKWARDS: THE FX MARKET PLACE</strong></li>\r\n</ol>\r\n<strong>LAST WEEK’S FOREX and ECONOMIC NEWS – MY VIEWS:</strong>\r\n\r\nFrom last week there was one standout for me: -\r\n\r\nTHE ECB PRESS CONFERENCE:\r\n\r\nSo this time the markets reacted positively to Mario Draghi. The single currency is now at its lowest level since May this year and it could be off to test the March 2015 lows of 1.0450.\r\n\r\nSo here is my take…\r\n\r\nApart from the fact I had a nose bleed as the markets actually reacted probably correctly to Draghi’s dovish commentary for once, in all honesty, do you believe that an ECB two-day board meeting with the current stimulus program ending in less than six months had no discussion on how to end the program or about extending the end date?\r\n\r\nMario Draghi stated that neither were mentioned. Well…  glaze my nipples and call me Rita!  Pull the other one. Was Draghi talking bulls**t, cows**t or camels**t?\r\n\r\nIn the name of sanity are we the unwashed expected to believe this?\r\n\r\nOf course the ECB board discussed it. If it’s not a meeting agenda issue for every ECB policy meeting it damn well should be.\r\n\r\nDraghi has suggested further easing in December and this may have been what weakened the EUR/USD. However, I am, more in the camp that the USD, which is strong at the moment and on one hell of a bull run was just looking for any reason to push higher and this was an opportunity. For me, this move on Draghi’s “grand day out” was more about the USD than the EUR.\r\n\r\nIs the ECB QE (Quantitative Easing) program going to conclude in March 2017? Very unlikely in my opinion, it will probably be extended by at least six months to September 2017.\r\n\r\nNot that it really matters to us as traders, but has the QE program worked for Draghi?\r\n\r\nIt pist off Wolfgang Schaeuble the German Chancellor, so if that was a goal for Draghi (it would have been for me), job done… I jest and mock.\r\n\r\nBack on point…\r\n\r\nVery simply, not really, by any stretch. It never really addressed or weakened the single currency to promote EUROZONE exports. Consumer prices never really got a boost from QE.\r\n\r\nI think it will be extended and on the basis that several months ago Mario Draghi stated that the fiscal stimulus should also be used along with the monetary policy initiatives from the ECB to move the member states economies forward, as far as I can, see bugger all has been done by the member states in this regard. Politicians inside the EUROZONE are only bleating about BREXIT instead. So there is still much to do in my opinion.\r\n\r\nThe QE program as a stand-alone has had questionable success and the fact the EUROZONE leaders cannot unify and fiscally address issues says it all. Continued can-kicking and crisis led management will continue to be the order of the day. Those leaders inside the EUROZONE believing that Mario Draghi could somehow wave a magic wand over EUROPE and fix things are in cuckoo land. To his credit Draghi has stopped the hemorrhaging but I doubt it\'s a permanent fix by and stretch of the imagination.\r\n\r\nThe EUROZONE has deep-rooted issues beyond the scope of the country leaders and the bureaucratic Brussels operation is only full of desk sucking, pen pushing jotter blotters, who are merely a drain on running costs of the EUROPEAN UNION. They are not initiators just a cost, and a huge cost.\r\n\r\nMoving back to the currency movement after the announcement….\r\n\r\nThink back when Mario Draghi launched the €80 million per month start of the QE program, the EUR/USD rallied upwards about 200 pips on the day. If you recall he launched the program and said to the press contingent gathered “That’s it” …and on the day “THAT WAS IT” for the single currency it strengthened rather than weakened across the board. I think in delivery of news terms we call that a f*ck up…. in meetings I refer to it this when having policy meetings as “I do not want to do a Draghi!!”\r\n\r\nLast week, obviously, Mario Draghi decided not to comment and took the tight lipped approach.\r\n\r\nLet me re-iterate, I believe that last week it was more about the USD rather than the EUR. There is a market realism creeping in that the FED will raise interest rates this December. I think that any excuse to buy USD is being taken at the moment, especially with the DXY heading back at a rapid rate towards the 99.00 level (See the DXY chart below).\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/10/DXY-MONTHLY-CHART-22102016.png\"><img class=\"aligncenter size-large wp-image-8510\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/10/DXY-MONTHLY-CHART-22102016-1024x499.png\" alt=\"dxy-monthly-chart-22102016\" width=\"1024\" height=\"499\" /></a>\r\n\r\n&nbsp;\r\n\r\nBREXIT:\r\n\r\nThe focus this week has been interesting to say the least. On one hand, we have seen UK Chancellor Philip Hammond defending the future role, and, to some on lookers, the very continued existence of the City of London financial district remaining a powerhouse. Whilst on the other hand Prime Minister Theresa May along with Brexit secretary David Davis spouting ahead of a Brussels wine and cheese ECB ministers meeting, about the flow of labour into the UK.\r\n\r\nThe posturing is inevitable. BREXIT negotiations will not start yet and all the key lines in the sand need to be out there so that all parties can start with their own lines in the sand as well.\r\n\r\nThe upshot of all of this is that rhetoric will remain very high for the foreseeable future and it is in my opinion not a question of if but when is the GBP/USD going to test the flash crash lows from the hourly chart that followed the crash as that is one that everyone can agree on…. that level is 1.2085.\r\n\r\nIt will be tested at some time and the 1.2000 level is an obvious target to follow. We are trading around 1.2200 so it is all within a day’s striking distance without any problem at all.\r\n\r\n&nbsp;\r\n\r\nBOC RATE DECISION &amp; PRESS CONFERENCE:\r\n\r\nMy views and comments about Stephen Poloz the governor of the BOC are well documented.\r\n\r\nNo surprises for me this month at all. I have gone on record by stating that the BOC operates behind the curve and is 100% reactionary.\r\n\r\nLast Friday’s Retail Sales numbers were a poor miss. As I have already stated there is an undercurrent of poor confidence in the economy as recent tightening in housing starts to bite. Canada is not in any way shape or form comparable to the London UK market, but homeowners anywhere in the world DO NOT like hearing or reading that house prices are falling. It effects outlook.\r\n\r\nPoloz has to deal with this moving forward. Next the consumer confidence numbers will move lower and then he has a real problem to deal with.\r\n\r\nThe head in the sand approach hoping issues will go away has suited him this year when you look back. Moving forward he will need to implement stimulus to the economy either by an interest cut or by something inventive to keep money moving.\r\n\r\nHe kept interest rates on hold at 0.50% and talked dovishly last Thursday. But there will come a time sooner rather than later that will require action rather than commentary in my opinion.\r\n\r\n&nbsp;\r\n\r\nTHE U.S. PRESIDENTIAL ELECTION:\r\n\r\nThe circus continues… what can I add that hasn’t already been written or spoken about on TV?\r\n\r\nIt is a joke. The whole world is laughing at the U.S. over this reality show and the U.S. doesn\'t even realize this.\r\n\r\nI probably shouldn’t write this, but it’s my blog…\r\n\r\nComing initially from the UK, the BBC is largely unbiased in the way it presents news, especially political news.\r\n\r\nLiving in Canada, we receive U.S. TV stations and we get via our cable a lot of news stations. Frankly neither candidate (GROPER or CROOKED) does it for me, I think if that is this is the best that the U.S. political system can present the U.S. as the next president, it is in deep shit moving forward, and the misfits on the hill will just continue to abuse their positions, nothing will get done and the party political lines will remain as is moving forward. This of course does also affect the rest of the world as the U.S. president also claims the title of the leader of the free world…. God help us all.\r\n\r\nThat aside…\r\n\r\nCNN, which is a one-sided 100% biased presentation and coverage of the election, has for the past six months or so had a revolving panel of guests (6 or 8 at a time) squabbling over the candidates said or did this, that, or the other. There has been virtually no other news on the station. Yet it still calls itself the “first in news”.\r\n\r\nIs it any wonder that education in the U.S. is so poor?\r\nIs it any wonder extremes blossom in the U.S. society?\r\n\r\nPeople believe more of what they watch than they read. They are being fed crap by CNN. Viewers are down because the programming is poor. They never get behind the news. To combat lower viewers CNN is diverting hugely away from news. They now have 60 minute programs to fill the overnight and late evening slots.\r\n\r\nCNBC gave up financial market news 24 hours a day because it only wants good news and bulls on the station talking to viewers. People wanted realism. They moved away from CNBC. You only have to look at how CNBC conducted itself at one of the Republican debates, it was a shambles and the GOP vowed never to give them a debate ever again.\r\n\r\nBoth CNBC and CNN cannot give an unbiased opinion. They believe their viewers are of a lower intelligence, so you feed them what the station wants them to be fed on and fill in the gaps with programming that has NOTHING to do with the core channel mission statement.\r\n\r\nReality TV is filling the voids left from normal programming. This is the future. DONALD TRUMP is running a reality TV style campaign and these stations feed off this because it generates ad revenues.\r\n\r\nEducation, unbiased coverage, behind the facts journalism, what the feck do these things mean and where do they fit it? These are things from the past, long gone, never to return. Where are the facts in this reality TV debate?\r\n\r\nIs it any wonder trading is so jittery and full of false moves based on sound-bytes. As our Nobel prize guy says “The times they are-a-changing”… in fact they have already changed and I doubt that they will be coming back.\r\n\r\n&nbsp;\r\n<ol start=\"4\">\r\n 	<li><strong> LOOKING FORWARDS:</strong><strong> </strong></li>\r\n</ol>\r\n<strong>THIS WEEK’S FOREX and ECONOMIC NEWS – MY VIEWS:</strong><strong> </strong>\r\n\r\n<u>THIS WEEK’S FOREX NEWS THAT INTERESTS ME:</u>\r\n\r\n(There are many more news items related to the Forex Market other than the ones listed below. These are the ones that interest me. You can go to <a href=\"http://www.forexfactory.com\">www.forexfactory.com</a> and <a href=\"http://www.tradingeconomics.com\">www.tradingeconomics.com</a> for a more comprehensive lists of all news events that are Forex related).\r\n\r\nSUNDAY: N/A.\r\n\r\nMONDAY: N/A.\r\n\r\nTUESDAY: GBP – BOE Mark Carney speaks.\r\nTUESDAY: EUR – ECB Mario Draghi speaks.\r\nTUESDAY: AUD - CPi.\r\n\r\nWEDNESDAY: GBP – Preliminary GDP.\r\n\r\nTHURSDAY: N/A.\r\n\r\nFRIDAY: USD – Advance GDP.\r\n\r\nEconomic timed data releases are a little light this coming week.\r\n\r\nThe standouts will be Mark Carney and Mario Draghi both this coming Tuesday.\r\n\r\nMark Carney is addressing a House of Lords committee on the Economic Consequences to the UK of the BREXIT and Mario Draghi is addressing the DIW Economic Institute in Berlin on ECB policies. Both items have the ability to move the markets.\r\n\r\n<u> </u>\r\n\r\n<u>FOREX TRADING IN GENERAL TERMS THIS WEEK:</u>\r\n\r\nWithout getting drawn into too many specifics, because that is what the PREMIUM SERVICE is for.\r\n\r\nLook at all the closing daily and in many cases weekly candles across a broad section of currency pairs, but especially those linked to the USD. There are some powerful moves afoot that should see momentum carrying on into the start of this week in many, many cases.\r\n\r\nThe only issue that I have is that the Asian sessions are fraught with potential miss-leading moves due to thin trading and extremely low liquidity. If you are already in positions, it’s all about managing these positions through the initial Asian session in Europe. In the European session should the USD still be well bid there are opportunities to add and tighten up stops to protect some profits.\r\n\r\nIf you are looking to establish positions, I would wait until the European session. The first trading session of the week, reacting to the weekends news events can offer up more than you bargained for by way of volatility. Just because we have a string of what look like powerful prior week closing candles, recent events will take priority regardless and to have strength in your trade, in my opinion, I would wait a few hours for London to start.\r\n\r\n&nbsp;\r\n\r\n<u>THIS COMING WEEK - THE USD MAJORS (MY THOUGHTS): </u>\r\n\r\n(In this section I have as usual kept my charts as minimalist as possible. With regards to charting in my opinion less is more!! I hope that they are clear. All readers regardless of level of experience should be able to follow my thoughts from my comments to the levels on the charts with ease)\r\n\r\nMy comments are contained on the charts.\r\n\r\nEUR/USD - Weekly Closing Price: 1.0882\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/10/EURUSD-WEEKLY-21102016.png\"><img class=\"aligncenter size-large wp-image-8504\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/10/EURUSD-WEEKLY-21102016-1024x477.png\" alt=\"eurusd-weekly-21102016\" width=\"1024\" height=\"477\" /></a>\r\n\r\nGBP/USD - Weekly Closing Price: 1.2227\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/10/GBPUSD-WEEKLY-22102016.png\"><img class=\"aligncenter size-large wp-image-8505\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/10/GBPUSD-WEEKLY-22102016-1024x477.png\" alt=\"gbpusd-weekly-22102016\" width=\"1024\" height=\"477\" /></a>\r\n\r\nAUD/USD - Weekly Closing Price: 0.7604\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/10/AUDUSD-WEEKLY-21102016.png\"><img class=\"aligncenter size-large wp-image-8503\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/10/AUDUSD-WEEKLY-21102016-1024x477.png\" alt=\"audusd-weekly-21102016\" width=\"1024\" height=\"477\" /></a>\r\n\r\nNZD/USD - Weekly Closing Price: 0.7163\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/10/NZDUSD-DAILY-21102016.png\"><img class=\"aligncenter size-large wp-image-8506\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/10/NZDUSD-DAILY-21102016-1024x477.png\" alt=\"nzdusd-daily-21102016\" width=\"1024\" height=\"477\" /></a>\r\n\r\nUSD/CAD - Weekly Closing Price: 1.3333\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/10/USDCAD-WEEKLY-21102016.png\"><img class=\"aligncenter size-large wp-image-8507\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/10/USDCAD-WEEKLY-21102016-1024x477.png\" alt=\"usdcad-weekly-21102016\" width=\"1024\" height=\"477\" /></a>\r\n\r\nUSD/CHF - Weekly Closing Price: 0.9932\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/10/USDCHF-DAILY-22102016.png\"><img class=\"aligncenter size-large wp-image-8508\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/10/USDCHF-DAILY-22102016-1024x477.png\" alt=\"usdchf-daily-22102016\" width=\"1024\" height=\"477\" /></a>\r\n\r\nUSD/JPY - Weekly Closing Price: 103.82\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/10/USDJPY-DAILY-21102016.png\"><img class=\"aligncenter size-large wp-image-8509\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/10/USDJPY-DAILY-21102016-1024x477.png\" alt=\"usdjpy-daily-21102016\" width=\"1024\" height=\"477\" /></a>\r\n\r\n<u> </u>\r\n\r\n<u>THIS COMING WEEK - THE NON-USD MAJORS PAIRS (MY THOUGHTS):</u>\r\n\r\nNot wanting to give away too much in this section as this overlaps with commentary that PREMIUM SERVICE SUBSCRIBERS receive in section 5.\r\n\r\nI am maintaining positions with EUR/GBP, EUR/CHF, GBP/CHF and AUD/NZD.\r\n\r\nOther non USD majors that are on my RADAR are: -\r\n\r\nGBP crosses. When cable makes its next break lower, should we test and break lower than 1.2000, I will then be starting to look for reversal moves back with the crosses.\r\n\r\nThe JPY pairs are on my RADAR. The PREMIUM SERVICE is currently long USD/JPY and I am looking to add additional JPY cross-rate pairs once the USD/JPY breaks above 104.60. I haven’t decided exactly which pairs, but I can definitely say that it will NOT involve the GBP/JPY for obvious reasons and the EUR/JPY could also be excluded.\r\n\r\n<strong> </strong><strong> </strong>\r\n<ol start=\"5\">\r\n 	<li><strong> PREMIUM SERVICE SUBSCRIBER EXCLUSIVE CONTENT AREA:</strong></li>\r\n</ol>\r\n<ol start=\"6\">\r\n 	<li><strong> MY CLOSING THOUGHTS:</strong></li>\r\n</ol>\r\nNot a lot of events are scheduled this week with regards to the Economic calendar. This does not mean that we can be complacent.\r\n\r\nThere are plenty of geopolitical events to keep the markets fluid through the European and North American sessions: - OIL, BREXIT and the U.S. Presidential Election to name three of them. Add to these the FED and its (assumed) desire to raise U.S. interest rates and we have enough uncertainties to deal with.\r\n\r\nDo not get suckered into believing the market is moving strongly in one direction. It can and does change in an instant. We are close to several range extremes, which increases volatility and the number of false moves. Remain careful and vigilant.\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,\r\n\r\nScott Pickering\r\nThe Pip Accumulator\r\n<a href=\"http://weeklyfxdrivethru.com/disclaimer/\">http://weeklyfxdrivethru.com/disclaimer/\r\n</a>BLOG VERSION: #219 FREE NEWSLETTER\r\nDATE: 22<sup>nd</sup> October 2016.','MARIO DRAGHI – “PULL THE OTHER ONE”','','inherit','closed','closed','','8514-revision-v1','','','2016-10-22 11:25:30','2016-10-22 16:25:30','',8514,'http://weeklyfxdrivethru.com/8514-revision-v1/',0,'revision','',0),(8516,1,'2016-10-22 11:26:28','2016-10-22 16:26:28','<strong> </strong>\r\n<ol>\r\n 	<li><strong> INTRODUCTION:</strong></li>\r\n</ol>\r\nLast week I will remember well for the trades that either just missed hitting my price point to enter or for a few trades that I cancelled that I should have left in place. My trading around the ECB press conference was bad. Once again I just wish that I could have been blessed with that wonderful thing that we all wished we had in abundance… hindsight. All trades combined, I missed out on about 600 pips. I stopped counting as it was just annoying me. The positive from all of this was of course that I did not lose any pips or $$$. However, to once and for all erase these 24 hours from my memory I would just like to write…bugger!!\r\n\r\nAs I tell subscribers it’s not how we fall down, it’s how we learn from the experience and how we get back up and get back into the trading cycle.\r\n\r\nMoving on…\r\n\r\nA few, but, not many positive responses to the subtle changes to the blog format. A couple of negatives were also received. For now, I am not inclined to change anything and this structure will remain in play until the year end at least. At that time during the Christmas break I will be looking at all communications that I am currently involved with and those I want to get involved with.\r\n\r\nJust a quick reminder; each month, I am giving away a FREE PREMIUM SERVICE 4-week subscription. This gives the winner 100% access to the PREMIUM SERVICE website and ALL my PREMIUM SERVICE communications from my suggested trade set-ups to market commentaries and my thoughts.\r\n\r\nTo stand a chance of being the next subscription winner, you need to subscribe to receive this free blog via my website <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a><strong>  </strong>\r\n\r\nYou are automatically entered into a free monthly draw, once you’ve subscribed. Each month one lucky blog subscriber will receive a free subscription to the PREMIUM SERVICE.\r\n\r\n<strong> </strong>\r\n<ol start=\"2\">\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 the various trade styles plus 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 credit card.\r\n<p style=\"text-align: center;\"><u>PREMIUM SERVICE SUBSCRIPTION COSTS:</u></p>\r\n<p style=\"text-align: center;\">Details of features and benefits of a PREMIUM SERVICE subscription can be found on my website landing page at <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a> under the dropdown tab at the top of the page entitled HISTORY &amp; PERFORMANCE OF THE PREMIUM SERVICE. To subscribe follow the SUBSCRIBE HERE tab.</p>\r\n<p style=\"text-align: center;\">PREMIUM SERVICE subscription costs are as follows: -</p>\r\n<p style=\"text-align: center;\">CAD$240.00 - 4 weeks (1 month)\r\nCAD$500.00 - 10 weeks (3 months)\r\nCAD$750.00 - 20 weeks (6 months)\r\nCAD$1,250.00 - 40 weeks (12 months)\r\n<u>PLUS</u>: Existing PLATINUM MEMBERS (annual subscribers) can re-subscribe for a further 12 months for CAD$1,000.00</p>\r\nI work for about 40 weeks a year. Subscriptions are based on 40 published blogs of the WEEKLY FX DRIVE THRU per year. For the remaining 10 weeks, I am around tweeting, posting and managing existing LIVE trades, although my market activity is reduced.\r\n<p style=\"text-align: center;\"><u> </u></p>\r\n<p style=\"text-align: center;\"><u>PREMIUM SERVICE PERFORMANCE:</u></p>\r\n<p style=\"text-align: center;\">PRESENT AND HISTORICAL QUICK PREMIUM SERVICE STATS:</p>\r\n<p style=\"text-align: center;\">NET PIPS THIS MONTH SO FAR:            +2,118 pips\r\nNET PIPS 2016 TO DATE:              +11,103 pips</p>\r\n<p style=\"text-align: center;\">NET PIPS 2015:       +10,686 pips\r\nNET PIPS 2014:       +11,209 pips</p>\r\n<p style=\"text-align: center;\">If you would like supporting data or detail about the performance and the tabs on my website landing page at <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a> do not answer your questions, contact me directly and I will supply the trading data you require. There are NO secrets. There are many, many spreadsheets detailing performance trade by trade and by trade and by trading style, way too many to place in this blog. If you are interested in the PREMIUM SERVICE and want more information, all you have to do is ask.</p>\r\n<p style=\"text-align: center;\"><strong> </strong></p>\r\n\r\n<ol start=\"3\">\r\n 	<li><strong> LOOKING BACKWARDS: THE FX MARKET PLACE</strong></li>\r\n</ol>\r\n<strong>LAST WEEK’S FOREX and ECONOMIC NEWS – MY VIEWS:</strong>\r\n\r\nFrom last week there was one standout for me: -\r\n\r\nTHE ECB PRESS CONFERENCE:\r\n\r\nSo this time the markets reacted positively to Mario Draghi. The single currency is now at its lowest level since May this year and it could be off to test the March 2015 lows of 1.0450.\r\n\r\nSo here is my take…\r\n\r\nApart from the fact I had a nose bleed as the markets actually reacted probably correctly to Draghi’s dovish commentary for once, in all honesty, do you believe that an ECB two-day board meeting with the current stimulus program ending in less than six months had no discussion on how to end the program or about extending the end date?\r\n\r\nMario Draghi stated that neither were mentioned. Well…  glaze my nipples and call me Rita!  Pull the other one. Was Draghi talking bulls**t, cows**t or camels**t?\r\n\r\nIn the name of sanity are we the unwashed expected to believe this?\r\n\r\nOf course the ECB board discussed it. If it’s not a meeting agenda issue for every ECB policy meeting it damn well should be.\r\n\r\nDraghi has suggested further easing in December and this may have been what weakened the EUR/USD. However, I am, more in the camp that the USD, which is strong at the moment and on one hell of a bull run was just looking for any reason to push higher and this was an opportunity. For me, this move on Draghi’s “grand day out” was more about the USD than the EUR.\r\n\r\nIs the ECB QE (Quantitative Easing) program going to conclude in March 2017? Very unlikely in my opinion, it will probably be extended by at least six months to September 2017.\r\n\r\nNot that it really matters to us as traders, but has the QE program worked for Draghi?\r\n\r\nIt pist off Wolfgang Schaeuble the German Chancellor, so if that was a goal for Draghi (it would have been for me), job done… I jest and mock.\r\n\r\nBack on point…\r\n\r\nVery simply, not really, by any stretch. It never really addressed or weakened the single currency to promote EUROZONE exports. Consumer prices never really got a boost from QE.\r\n\r\nI think it will be extended and on the basis that several months ago Mario Draghi stated that the fiscal stimulus should also be used along with the monetary policy initiatives from the ECB to move the member states economies forward, as far as I can, see bugger all has been done by the member states in this regard. Politicians inside the EUROZONE are only bleating about BREXIT instead. So there is still much to do in my opinion.\r\n\r\nThe QE program as a stand-alone has had questionable success and the fact the EUROZONE leaders cannot unify and fiscally address issues says it all. Continued can-kicking and crisis led management will continue to be the order of the day. Those leaders inside the EUROZONE believing that Mario Draghi could somehow wave a magic wand over EUROPE and fix things are in cuckoo land. To his credit Draghi has stopped the hemorrhaging but I doubt it\'s a permanent fix by and stretch of the imagination.\r\n\r\nThe EUROZONE has deep-rooted issues beyond the scope of the country leaders and the bureaucratic Brussels operation is only full of desk sucking, pen pushing jotter blotters, who are merely a drain on running costs of the EUROPEAN UNION. They are not initiators just a cost, and a huge cost.\r\n\r\nMoving back to the currency movement after the announcement….\r\n\r\nThink back when Mario Draghi launched the €80 million per month start of the QE program, the EUR/USD rallied upwards about 200 pips on the day. If you recall he launched the program and said to the press contingent gathered “That’s it” …and on the day “THAT WAS IT” for the single currency it strengthened rather than weakened across the board. I think in delivery of news terms we call that a f*ck up…. in meetings I refer to it this when having policy meetings as “I do not want to do a Draghi!!”\r\n\r\nLast week, obviously, Mario Draghi decided not to comment and took the tight lipped approach.\r\n\r\nLet me re-iterate, I believe that last week it was more about the USD rather than the EUR. There is a market realism creeping in that the FED will raise interest rates this December. I think that any excuse to buy USD is being taken at the moment, especially with the DXY heading back at a rapid rate towards the 99.00 level (See the DXY chart below).\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/10/DXY-MONTHLY-CHART-22102016.png\"><img class=\"aligncenter size-large wp-image-8510\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/10/DXY-MONTHLY-CHART-22102016-1024x499.png\" alt=\"dxy-monthly-chart-22102016\" width=\"1024\" height=\"499\" /></a>\r\n\r\n&nbsp;\r\n\r\nBREXIT:\r\n\r\nThe focus this week has been interesting to say the least. On one hand, we have seen UK Chancellor Philip Hammond defending the future role, and, to some on lookers, the very continued existence of the City of London financial district remaining a powerhouse. Whilst on the other hand Prime Minister Theresa May along with Brexit secretary David Davis spouting ahead of a Brussels wine and cheese ECB ministers meeting, about the flow of labour into the UK.\r\n\r\nThe posturing is inevitable. BREXIT negotiations will not start yet and all the key lines in the sand need to be out there so that all parties can start with their own lines in the sand as well.\r\n\r\nThe upshot of all of this is that rhetoric will remain very high for the foreseeable future and it is in my opinion not a question of if but when is the GBP/USD going to test the flash crash lows from the hourly chart that followed the crash as that is one that everyone can agree on…. that level is 1.2085.\r\n\r\nIt will be tested at some time and the 1.2000 level is an obvious target to follow. We are trading around 1.2200 so it is all within a day’s striking distance without any problem at all.\r\n\r\n&nbsp;\r\n\r\nBOC RATE DECISION &amp; PRESS CONFERENCE:\r\n\r\nMy views and comments about Stephen Poloz the governor of the BOC are well documented.\r\n\r\nNo surprises for me this month at all. I have gone on record by stating that the BOC operates behind the curve and is 100% reactionary.\r\n\r\nLast Friday’s Retail Sales numbers were a poor miss. As I have already stated there is an undercurrent of poor confidence in the economy as recent tightening in housing starts to bite. Canada is not in any way shape or form comparable to the London UK market, but homeowners anywhere in the world DO NOT like hearing or reading that house prices are falling. It effects outlook.\r\n\r\nPoloz has to deal with this moving forward. Next the consumer confidence numbers will move lower and then he has a real problem to deal with.\r\n\r\nThe head in the sand approach hoping issues will go away has suited him this year when you look back. Moving forward he will need to implement stimulus to the economy either by an interest cut or by something inventive to keep money moving.\r\n\r\nHe kept interest rates on hold at 0.50% and talked dovishly last Thursday. But there will come a time sooner rather than later that will require action rather than commentary in my opinion.\r\n\r\n&nbsp;\r\n\r\nTHE U.S. PRESIDENTIAL ELECTION:\r\n\r\nThe circus continues… what can I add that hasn’t already been written or spoken about on TV?\r\n\r\nIt is a joke. The whole world is laughing at the U.S. over this reality show and the U.S. doesn\'t even realize this.\r\n\r\nI probably shouldn’t write this, but it’s my blog…\r\n\r\nComing initially from the UK, the BBC is largely unbiased in the way it presents news, especially political news.\r\n\r\nLiving in Canada, we receive U.S. TV stations and we get via our cable a lot of news stations. Frankly neither candidate (GROPER or CROOKED) does it for me, I think if that is this is the best that the U.S. political system can present the U.S. as the next president, it is in deep shit moving forward, and the misfits on the hill will just continue to abuse their positions, nothing will get done and the party political lines will remain as is moving forward. This of course does also affect the rest of the world as the U.S. president also claims the title of the leader of the free world…. God help us all.\r\n\r\nThat aside…\r\n\r\nCNN, which is a one-sided 100% biased presentation and coverage of the election, has for the past six months or so had a revolving panel of guests (6 or 8 at a time) squabbling over the candidates said or did this, that, or the other. There has been virtually no other news on the station. Yet it still calls itself the “first in news”.\r\n\r\nIs it any wonder that education in the U.S. is so poor?\r\nIs it any wonder extremes blossom in the U.S. society?\r\n\r\nPeople believe more of what they watch than they read. They are being fed crap by CNN. Viewers are down because the programming is poor. They never get behind the news. To combat lower viewers CNN is diverting hugely away from news. They now have 60 minute programs to fill the overnight and late evening slots.\r\n\r\nCNBC gave up financial market news 24 hours a day because it only wants good news and bulls on the station talking to viewers. People wanted realism. They moved away from CNBC. You only have to look at how CNBC conducted itself at one of the Republican debates, it was a shambles and the GOP vowed never to give them a debate ever again.\r\n\r\nBoth CNBC and CNN cannot give an unbiased opinion. They believe their viewers are of a lower intelligence, so you feed them what the station wants them to be fed on and fill in the gaps with programming that has NOTHING to do with the core channel mission statement.\r\n\r\nReality TV is filling the voids left from normal programming. This is the future. DONALD TRUMP is running a reality TV style campaign and these stations feed off this because it generates ad revenues.\r\n\r\nEducation, unbiased coverage, behind the facts journalism, what the feck do these things mean and where do they fit it? These are things from the past, long gone, never to return. Where are the facts in this reality TV debate?\r\n\r\nIs it any wonder trading is so jittery and full of false moves based on sound-bytes. As our Nobel prize guy says “The times they are-a-changing”… in fact they have already changed and I doubt that they will be coming back.\r\n\r\n&nbsp;\r\n<ol start=\"4\">\r\n 	<li><strong> LOOKING FORWARDS:</strong><strong> </strong></li>\r\n</ol>\r\n<strong>THIS WEEK’S FOREX and ECONOMIC NEWS – MY VIEWS:</strong><strong> </strong>\r\n\r\n<u>THIS WEEK’S FOREX NEWS THAT INTERESTS ME:</u>\r\n\r\n(There are many more news items related to the Forex Market other than the ones listed below. These are the ones that interest me. You can go to <a href=\"http://www.forexfactory.com\">www.forexfactory.com</a> and <a href=\"http://www.tradingeconomics.com\">www.tradingeconomics.com</a> for a more comprehensive lists of all news events that are Forex related).\r\n\r\nSUNDAY: N/A.\r\n\r\nMONDAY: N/A.\r\n\r\nTUESDAY: GBP – BOE Mark Carney speaks.\r\nTUESDAY: EUR – ECB Mario Draghi speaks.\r\nTUESDAY: AUD - CPi.\r\n\r\nWEDNESDAY: GBP – Preliminary GDP.\r\n\r\nTHURSDAY: N/A.\r\n\r\nFRIDAY: USD – Advance GDP.\r\n\r\nEconomic timed data releases are a little light this coming week.\r\n\r\nThe standouts will be Mark Carney and Mario Draghi both this coming Tuesday.\r\n\r\nMark Carney is addressing a House of Lords committee on the Economic Consequences to the UK of the BREXIT and Mario Draghi is addressing the DIW Economic Institute in Berlin on ECB policies. Both items have the ability to move the markets.\r\n\r\n<u> </u>\r\n\r\n<u>FOREX TRADING IN GENERAL TERMS THIS WEEK:</u>\r\n\r\nWithout getting drawn into too many specifics, because that is what the PREMIUM SERVICE is for.\r\n\r\nLook at all the closing daily and in many cases weekly candles across a broad section of currency pairs, but especially those linked to the USD. There are some powerful moves afoot that should see momentum carrying on into the start of this week in many, many cases.\r\n\r\nThe only issue that I have is that the Asian sessions are fraught with potential miss-leading moves due to thin trading and extremely low liquidity. If you are already in positions, it’s all about managing these positions through the initial Asian session in Europe. In the European session should the USD still be well bid there are opportunities to add and tighten up stops to protect some profits.\r\n\r\nIf you are looking to establish positions, I would wait until the European session. The first trading session of the week, reacting to the weekends news events can offer up more than you bargained for by way of volatility. Just because we have a string of what look like powerful prior week closing candles, recent events will take priority regardless and to have strength in your trade, in my opinion, I would wait a few hours for London to start.\r\n\r\n&nbsp;\r\n\r\n<u>THIS COMING WEEK - THE USD MAJORS (MY THOUGHTS): </u>\r\n\r\n(In this section I have as usual kept my charts as minimalist as possible. With regards to charting in my opinion less is more!! I hope that they are clear. All readers regardless of level of experience should be able to follow my thoughts from my comments to the levels on the charts with ease)\r\n\r\nMy comments are contained on the charts.\r\n\r\nEUR/USD - Weekly Closing Price: 1.0882\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/10/EURUSD-WEEKLY-21102016.png\"><img class=\"aligncenter size-large wp-image-8504\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/10/EURUSD-WEEKLY-21102016-1024x477.png\" alt=\"eurusd-weekly-21102016\" width=\"1024\" height=\"477\" /></a>\r\n\r\nGBP/USD - Weekly Closing Price: 1.2227\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/10/GBPUSD-WEEKLY-22102016.png\"><img class=\"aligncenter size-large wp-image-8505\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/10/GBPUSD-WEEKLY-22102016-1024x477.png\" alt=\"gbpusd-weekly-22102016\" width=\"1024\" height=\"477\" /></a>\r\n\r\nAUD/USD - Weekly Closing Price: 0.7604\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/10/AUDUSD-WEEKLY-21102016.png\"><img class=\"aligncenter size-large wp-image-8503\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/10/AUDUSD-WEEKLY-21102016-1024x477.png\" alt=\"audusd-weekly-21102016\" width=\"1024\" height=\"477\" /></a>\r\n\r\nNZD/USD - Weekly Closing Price: 0.7163\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/10/NZDUSD-DAILY-21102016.png\"><img class=\"aligncenter size-large wp-image-8506\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/10/NZDUSD-DAILY-21102016-1024x477.png\" alt=\"nzdusd-daily-21102016\" width=\"1024\" height=\"477\" /></a>\r\n\r\nUSD/CAD - Weekly Closing Price: 1.3333\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/10/USDCAD-WEEKLY-21102016.png\"><img class=\"aligncenter size-large wp-image-8507\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/10/USDCAD-WEEKLY-21102016-1024x477.png\" alt=\"usdcad-weekly-21102016\" width=\"1024\" height=\"477\" /></a>\r\n\r\nUSD/CHF - Weekly Closing Price: 0.9932\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/10/USDCHF-DAILY-22102016.png\"><img class=\"aligncenter size-large wp-image-8508\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/10/USDCHF-DAILY-22102016-1024x477.png\" alt=\"usdchf-daily-22102016\" width=\"1024\" height=\"477\" /></a>\r\n\r\nUSD/JPY - Weekly Closing Price: 103.82\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/10/USDJPY-DAILY-21102016.png\"><img class=\"aligncenter size-large wp-image-8509\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/10/USDJPY-DAILY-21102016-1024x477.png\" alt=\"usdjpy-daily-21102016\" width=\"1024\" height=\"477\" /></a>\r\n\r\n<u> </u>\r\n\r\n<u>THIS COMING WEEK - THE NON-USD MAJORS PAIRS (MY THOUGHTS):</u>\r\n\r\nNot wanting to give away too much in this section as this overlaps with commentary that PREMIUM SERVICE SUBSCRIBERS receive in section 5.\r\n\r\nI am maintaining positions with EUR/GBP, EUR/CHF, GBP/CHF and AUD/NZD.\r\n\r\nOther non USD majors that are on my RADAR are: -\r\n\r\nGBP crosses. When cable makes its next break lower, should we test and break lower than 1.2000, I will then be starting to look for reversal moves back with the crosses.\r\n\r\nThe JPY pairs are on my RADAR. The PREMIUM SERVICE is currently long USD/JPY and I am looking to add additional JPY cross-rate pairs once the USD/JPY breaks above 104.60. I haven’t decided exactly which pairs, but I can definitely say that it will NOT involve the GBP/JPY for obvious reasons and the EUR/JPY could also be excluded.\r\n\r\n<strong> </strong><strong> </strong>\r\n<ol start=\"5\">\r\n 	<li><strong> PREMIUM SERVICE SUBSCRIBER EXCLUSIVE CONTENT AREA:</strong></li>\r\n</ol>\r\n<ol start=\"6\">\r\n 	<li><strong> MY CLOSING THOUGHTS:</strong></li>\r\n</ol>\r\nNot a lot of events are scheduled this week with regards to the Economic calendar. This does not mean that we can be complacent.\r\n\r\nThere are plenty of geopolitical events to keep the markets fluid through the European and North American sessions: - OIL, BREXIT and the U.S. Presidential Election to name three of them. Add to these the FED and its (assumed) desire to raise U.S. interest rates and we have enough uncertainties to deal with.\r\n\r\nDo not get suckered into believing the market is moving strongly in one direction. It can and does change in an instant. We are close to several range extremes, which increases volatility and the number of false moves. Remain careful and vigilant.\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,\r\n\r\nScott Pickering\r\nThe Pip Accumulator\r\n<a href=\"http://weeklyfxdrivethru.com/disclaimer/\">http://weeklyfxdrivethru.com/disclaimer/\r\n</a>BLOG VERSION: #219 FREE NEWSLETTER\r\nDATE: 22<sup>nd</sup> October 2016.','MARIO DRAGHI – “PULL THE OTHER ONE”','','inherit','closed','closed','','8514-revision-v1','','','2016-10-22 11:26:28','2016-10-22 16:26:28','',8514,'http://weeklyfxdrivethru.com/8514-revision-v1/',0,'revision','',0),(8522,1,'2016-10-28 16:14:55','2016-10-28 21:14:55','','prem-serv-profits1-29102016','','inherit','open','closed','','prem-serv-profits1-29102016','','','2016-10-29 15:14:02','2016-10-29 20:14:02','',5000,'http://weeklyfxdrivethru.com/wp-content/uploads/2016/10/PREM-SERV-PROFITS1-29102016.png',0,'attachment','image/png',0),(8523,1,'2016-10-28 16:14:59','2016-10-28 21:14:59','','prem-serv-profits2-29102016','','inherit','open','closed','','prem-serv-profits2-29102016','','','2016-10-29 15:14:17','2016-10-29 20:14:17','',5000,'http://weeklyfxdrivethru.com/wp-content/uploads/2016/10/PREM-SERV-PROFITS2-29102016.png',0,'attachment','image/png',0),(8524,1,'2016-10-28 16:15:03','2016-10-28 21:15:03','','radar-29102016','','inherit','open','closed','','radar-29102016','','','2016-10-29 15:09:40','2016-10-29 20:09:40','',2524,'http://weeklyfxdrivethru.com/wp-content/uploads/2016/10/RADAR-29102016.png',0,'attachment','image/png',0),(8525,1,'2016-10-28 16:15:13','2016-10-28 21:15:13','','flash-29102016','','inherit','open','closed','','flash-29102016','','','2016-10-29 15:08:54','2016-10-29 20:08:54','',2711,'http://weeklyfxdrivethru.com/wp-content/uploads/2016/10/FLASH-29102016.png',0,'attachment','image/png',0),(8526,1,'2016-10-28 16:15:21','2016-10-28 21:15:21','','fun1-29102016','','inherit','open','closed','','fun1-29102016','','','2016-10-29 15:10:27','2016-10-29 20:10:27','',3106,'http://weeklyfxdrivethru.com/wp-content/uploads/2016/10/FUN1-29102016.png',0,'attachment','image/png',0),(8527,1,'2016-10-28 16:15:25','2016-10-28 21:15:25','','fun2-29102016','','inherit','open','closed','','fun2-29102016','','','2016-10-29 15:10:31','2016-10-29 20:10:31','',3106,'http://weeklyfxdrivethru.com/wp-content/uploads/2016/10/FUN2-29102016.png',0,'attachment','image/png',0),(8528,1,'2016-10-28 16:15:29','2016-10-28 21:15:29','','fun3-29102016','','inherit','open','closed','','fun3-29102016','','','2016-10-29 15:10:43','2016-10-29 20:10:43','',3106,'http://weeklyfxdrivethru.com/wp-content/uploads/2016/10/FUN3-29102016.png',0,'attachment','image/png',0),(8529,1,'2016-10-28 16:15:32','2016-10-28 21:15:32','','pos1-29102016','','inherit','open','closed','','pos1-29102016','','','2016-10-29 15:12:29','2016-10-29 20:12:29','',6965,'http://weeklyfxdrivethru.com/wp-content/uploads/2016/10/POS1-29102016.png',0,'attachment','image/png',0),(8530,1,'2016-10-28 16:15:36','2016-10-28 21:15:36','','pos2-29102016','','inherit','open','closed','','pos2-29102016','','','2016-10-29 15:12:36','2016-10-29 20:12:36','',6965,'http://weeklyfxdrivethru.com/wp-content/uploads/2016/10/POS2-29102016.png',0,'attachment','image/png',0),(8531,1,'2016-10-28 16:15:38','2016-10-28 21:15:38','','prem-serv-profits-2014','','inherit','open','closed','','prem-serv-profits-2014-2','','','2016-10-29 14:49:15','2016-10-29 19:49:15','',8543,'http://weeklyfxdrivethru.com/wp-content/uploads/2016/10/PREM-SERV-PROFITS-2014.png',0,'attachment','image/png',0),(8532,1,'2016-10-28 16:15:40','2016-10-28 21:15:40','','prem-serv-net-2015','','inherit','open','closed','','prem-serv-net-2015','','','2016-10-29 14:49:35','2016-10-29 19:49:35','',8543,'http://weeklyfxdrivethru.com/wp-content/uploads/2016/10/PREM-SERV-NET-2015.png',0,'attachment','image/png',0),(8533,1,'2016-10-28 16:15:42','2016-10-28 21:15:42','','ps-net-profits-2016','','inherit','open','closed','','ps-net-profits-2016','','','2016-10-29 14:49:51','2016-10-29 19:49:51','',8543,'http://weeklyfxdrivethru.com/wp-content/uploads/2016/10/PS-NET-PROFITS-2016.png',0,'attachment','image/png',0),(8534,1,'2016-10-28 16:15:44','2016-10-28 21:15:44','','limit-orders-29102016','','inherit','open','closed','','limit-orders-29102016','','','2016-10-29 14:54:54','2016-10-29 19:54:54','',8543,'http://weeklyfxdrivethru.com/wp-content/uploads/2016/10/LIMIT-ORDERS-29102016.png',0,'attachment','image/png',0),(8535,1,'2016-10-28 16:15:47','2016-10-28 21:15:47','','live-trades-29102016','','inherit','open','closed','','live-trades-29102016','','','2016-10-29 14:54:40','2016-10-29 19:54:40','',8543,'http://weeklyfxdrivethru.com/wp-content/uploads/2016/10/LIVE-TRADES-29102016.png',0,'attachment','image/png',0),(8536,1,'2016-10-28 16:21:43','2016-10-28 21:21:43','','audusd-daily-29102016','','inherit','open','closed','','audusd-daily-29102016','','','2016-10-29 14:52:18','2016-10-29 19:52:18','',8543,'http://weeklyfxdrivethru.com/wp-content/uploads/2016/10/AUDUSD-DAILY-29102016.png',0,'attachment','image/png',0),(8537,1,'2016-10-28 16:21:48','2016-10-28 21:21:48','','eurusd-daily-29102016','','inherit','open','closed','','eurusd-daily-29102016','','','2016-10-29 14:51:56','2016-10-29 19:51:56','',8543,'http://weeklyfxdrivethru.com/wp-content/uploads/2016/10/EURUSD-DAILY-29102016.png',0,'attachment','image/png',0),(8538,1,'2016-10-28 16:21:51','2016-10-28 21:21:51','','gbpusd-daily-29102016','','inherit','open','closed','','gbpusd-daily-29102016','','','2016-10-29 14:52:07','2016-10-29 19:52:07','',8543,'http://weeklyfxdrivethru.com/wp-content/uploads/2016/10/GBPUSD-DAILY-29102016.png',0,'attachment','image/png',0),(8539,1,'2016-10-28 16:21:53','2016-10-28 21:21:53','','nzdusd-daily-29102016','','inherit','open','closed','','nzdusd-daily-29102016','','','2016-10-29 14:52:29','2016-10-29 19:52:29','',8543,'http://weeklyfxdrivethru.com/wp-content/uploads/2016/10/NZDUSD-DAILY-29102016.png',0,'attachment','image/png',0),(8540,1,'2016-10-28 16:21:56','2016-10-28 21:21:56','','usdcad-daily-29102016','','inherit','open','closed','','usdcad-daily-29102016','','','2016-10-29 14:52:43','2016-10-29 19:52:43','',8543,'http://weeklyfxdrivethru.com/wp-content/uploads/2016/10/USDCAD-DAILY-29102016.png',0,'attachment','image/png',0),(8541,1,'2016-10-28 16:21:58','2016-10-28 21:21:58','','usdchf-daily-29102016','','inherit','open','closed','','usdchf-daily-29102016','','','2016-10-29 14:52:53','2016-10-29 19:52:53','',8543,'http://weeklyfxdrivethru.com/wp-content/uploads/2016/10/USDCHF-DAILY-29102016.png',0,'attachment','image/png',0),(8542,1,'2016-10-28 16:22:00','2016-10-28 21:22:00','','usdjpy-daily-29102016','','inherit','open','closed','','usdjpy-daily-29102016','','','2016-10-29 14:53:08','2016-10-29 19:53:08','',8543,'http://weeklyfxdrivethru.com/wp-content/uploads/2016/10/USDJPY-DAILY-29102016.png',0,'attachment','image/png',0),(8543,1,'2016-10-29 14:57:38','2016-10-29 19:57:38','<strong> </strong>\r\n<ol>\r\n 	<li><strong> INTRODUCTION:</strong></li>\r\n</ol>\r\nLast week was a relatively quiet week for economic data releases. Equities, and in particular the U.S. long bonds led the FX markets, plus the now customary mixture of BREXIT, OPEC (OIL), U.S. Presidential Election and sound-bytes from the EUROZONE.\r\n\r\nFrom a trading perspective, I was not very aggressive with trades, always trying to be selective and as choosy on entries as possible to maximize opportunities.\r\n\r\nI would like to share some great news, the PREMIUM SERVICE total pips for 2016 currently stands at 11,618 pips, which exceeds 2014 (11,209 pips) and 2015 (10,686 pips). There are still a few weeks left this year, therefore, the final pip total return could move higher or lower depending upon what happens going into the year end.\r\n\r\nAt the conclusion of every blog (this one as well), I always include a very short a paragraph about trading longevity (see below).\r\n<p style=\"text-align: center;\"><strong><span style=\"color: #0000ff;\"><em>Always 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.</em></span></strong></p>\r\nLast week, I revised my POSITION SIZING guidelines for my trading based upon the various currency pairs available. This is a user guide for subscribers to see what sizes I am trading, based upon my RISK attached to each trade set up that I suggest.\r\n\r\nMy business strap line <strong><u>“The Home of Single-lot Trading”</u> </strong>is based upon my belief, and I have records to back this up is that regardless of how deep your pockets are, you can with RISK &amp; MONEY MANAGEMENT, TRADING DISCIPLINES and POSITION SIZING MANAGEMENT make a good cash return from trading Forex.\r\n\r\nThis is not like gambling in Vegas. You do not have to go all in. I consider trading more like a RISK MANAGEMENT process. It is also not about making big profits trade after trade, that would be great but sadly the world of trading is NOT like that. It is about the consistency of your performance and taking profits at the right time whatever size, adding to your account. Yes, there will be losses but these can be minimized. Like every trader I hate losses, but they are a pre-requisite of trading.\r\n\r\nI have never singled out a specific trade to review in this section of the blog before, but to amplify my point on trading small position sizes and being patient with trading I would like to demonstrate that good returns are possible.\r\n\r\nThe trade parameters were as follows: -\r\n<p style=\"text-align: center;\">POSITION TRADE\r\nREF#: POS 140\r\nUSD/SEK\r\nLONG\r\nENTRY at 8.8800\r\nSTOP 8.2800\r\nLIMIT 10.400\r\n\r\nTRADE CLOSED AT 9.0200 – 26<sup>th</sup> October 2016\r\nMY POSITION SIZE: 10% = 3 MINI LOTS\r\nPROFIT FROM TRADE: $465.60\r\nCOST TO TRADE: $3.30\r\nRISK AT TRADE INCEPTION WAS: c.$200.00</p>\r\nI put a protected stop in place as the pair spiked after a news event. It pulled back and my trade covered early.\r\n\r\nMy point is where else can your RISK / RETURN be this good?\r\n\r\nWhilst my RISK at the outset of the trade was $200.00. My trade basically cost me $3.30 to make $465.60. Where else is your return this good? There are places, but this is instant cash if required and it all happened inside 4 hours.\r\n\r\nObviously there are traders who would trade larger POSITION SIZES than me and many who will trade smaller POSITION SIZES. Regardless of your wallet size we can ALL make $$$.\r\n\r\nHad you traded the lowest possible trade and matched my set up suggested 1 x micro lot with the above trade example: -\r\n<ul>\r\n 	<li>COST TO TRADE $0.11 cents</li>\r\n 	<li>TRADE INCEPTION RISK $6.60</li>\r\n 	<li>ACTUAL TRADE REWARD $15.52</li>\r\n</ul>\r\nThis is NOT a “blow my own horn” approach. There have been many better trades than this this year. I just wanted to show that you do NOT need to have a higher risk to enjoy a good return on your capital.\r\n\r\nThis particular trade is just fresh in my mind, as when I look at my “Tweet deck” page, I see a couple of tweets to me @ThePremServ from one very good trader and PREMIUM SERVICE subscriber who missed this trade and was kicking himself for doing so.\r\n\r\nAs I have said, probably 10-15 times in the past month or so, As Forex Traders, we are in a marathon not a 60 metre dash.\r\n\r\nMoving on…\r\n\r\nJust a quick reminder; each month, I am giving away a FREE PREMIUM SERVICE 4-week subscription. This gives the winner 100% access to the PREMIUM SERVICE website and ALL my PREMIUM SERVICE communications from my suggested trade set-ups to market commentaries and my thoughts.\r\n<p style=\"text-align: center;\">Next month’s (November 2016) FREE SUBSCRIPTION winner is: -</p>\r\n<p style=\"text-align: center;\"><a href=\"mailto:Davidc******@gmail.com\">Davidc******@gmail.com</a></p>\r\nBy the times this blog is posted, I expect David to be fully signed up with full access to the PREMIUM SERVICE.\r\n\r\nTo stand a chance of being the next subscription winner, you need to subscribe to receive this free blog via my website <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a><strong>  </strong><strong> </strong>\r\n\r\nYou are automatically entered into a free monthly draw, once you’ve subscribed. Each month one lucky blog subscriber will receive a free subscription to the PREMIUM SERVICE.\r\n\r\n<strong> </strong>\r\n<ol start=\"2\">\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 the various trade styles plus 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 credit card.\r\n\r\n<u>PREMIUM SERVICE SUBSCRIPTION COSTS:</u>\r\n\r\nDetails of features and benefits of a PREMIUM SERVICE subscription can be found on my website landing page at <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a> under the dropdown tab at the top of the page entitled HISTORY &amp; PERFORMANCE OF THE PREMIUM SERVICE. To subscribe follow the SUBSCRIBE HERE tab.\r\n<p style=\"text-align: center;\">PREMIUM SERVICE subscription costs are as follows: -</p>\r\n<p style=\"text-align: center;\">CAD$240.00 - 4 weeks (1 month)\r\nCAD$500.00 - 10 weeks (3 months)\r\nCAD$750.00 - 20 weeks (6 months)\r\nCAD$1,250.00 - 40 weeks (12 months)\r\n<u>PLUS</u>: Existing PLATINUM MEMBERS (annual subscribers) can re-subscribe for a further 12 months for CAD$1,000.00\r\n\r\nI work for about 40 weeks a year. Subscriptions are based on 40 published blogs of the WEEKLY FX DRIVE THRU per year. For the remaining 10 weeks, I am around tweeting, posting and managing existing LIVE trades, although my market activity is reduced.</p>\r\n<p style=\"text-align: center;\"><u>PREMIUM SERVICE PERFORMANCE:</u></p>\r\n<p style=\"text-align: center;\">PRESENT AND HISTORICAL QUICK PREMIUM SERVICE STATS:</p>\r\n<p style=\"text-align: center;\">NET PIPS THIS MONTH SO FAR:            +2,633 pips\r\nNET PIPS 2016 TODATE:              +11,618 pips</p>\r\n<p style=\"text-align: center;\">NET PIPS 2015:       +10,686 pips\r\nNET PIPS 2014:       +11,209 pips</p>\r\nBelow, for additional information on the past and current trading I include excel spreadsheets detailing the overviews of the PREMIUM SERVICE performance.\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/10/PREM-SERV-PROFITS-2014.png\"><img class=\"aligncenter size-full wp-image-8531\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/10/PREM-SERV-PROFITS-2014.png\" alt=\"prem-serv-profits-2014\" width=\"1022\" height=\"850\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/10/PREM-SERV-NET-2015.png\"><img class=\"aligncenter size-full wp-image-8532\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/10/PREM-SERV-NET-2015.png\" alt=\"prem-serv-net-2015\" width=\"1010\" height=\"872\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/10/PS-NET-PROFITS-2016.png\"><img class=\"aligncenter size-full wp-image-8533\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/10/PS-NET-PROFITS-2016.png\" alt=\"ps-net-profits-2016\" width=\"1010\" height=\"882\" /></a>\r\n\r\n&nbsp;\r\n\r\nIf you would like supporting data or detail about the performance and the tabs on my website landing page at <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a> do not answer your questions, contact me directly and I will supply the trading data you require. There are NO secrets. There are many, many spreadsheets detailing performance trade by trade and by trade and by trading style, way too many to place in this blog. If you are interested in the PREMIUM SERVICE and want more information, all you have to do is ask.\r\n\r\n<strong> </strong>\r\n<ol start=\"3\">\r\n 	<li><strong> LOOKING BACKWARDS: THE FX MARKET PLAC</strong></li>\r\n</ol>\r\n<strong>LAST WEEK’S FOREX and ECONOMIC NEWS – MY VIEWS:</strong>\r\n\r\nMARK CARNEY (BOE GOVERNOR’S TESTIMONY TO HOUSE OF LORDS):\r\n\r\nBasically my summary from Carney’s speech to the House of Lords committee was “Monetary Policy cannot do everything”. I think we heard something very similar very recently from Mario Draghi (ECB President).\r\n\r\nMy take is that he (Carney) can’t really do much now except wait. He did the initial support but now he needs to react to the politicians and to some meaningful economic statistics following the BREXIT vote. He will ignore knee jerk statistics to get a picture with a trend if possible and try to keep ahead of the curve.\r\n\r\nThat aside cable trades very heavy and within striking distance (GBP/USD) of breaking the recent 30+ years low of 1.2076. I still maintain its when rather than if we break this. The 1.2000 psychological number is appealing to the robots and big institutions. The weekly closing numbers with the GBP/USD must have the banks chartists frothing at the mouth with opportunities. At the same time there are always short covering rallies as there are always bottom pickers in the market. Eventually, one sound-byte from either a UK or EUROZONE politician probably based upon the Banking sector future of London being cast in doubt will send this cable crashing across the board.\r\n\r\nI just want the best entry level to short the GBP/USD, GBP/CHF and get long EUR/GBP. Although the CHF is a little off my RADAR at the moment given that I fear a TRUMP victory we could see a JPY and CHF flight to safety trade for a while.\r\n\r\nI digress…\r\n\r\nI think with Theresa May giving Parliament a chance to debate the BREXIT, this will stretch out the date for EUROPEAN UNION discussions and this gives the GBP/USD the chance to recover a little. This is my hope. I have a LIMIT ORDER in place ready at my target entry. The problem is every time cable looks like it’s moving up, it quickly gets swatted down again. There are always sellers ready to enter.\r\n\r\nCarney is on hold for the time being so it’s really up to the politicians to influence the cable price moving forward in my opinion.\r\n\r\n&nbsp;\r\n\r\nU.S. ADVANCE GDP:\r\n\r\nIf ever there was a data release to screw with your mind, and your belief of what was good news and what was bad news this was it.\r\n\r\n2.9% growth… almost 3%.\r\n\r\nI expected the USD to rally like crazy across the board. It never happened, the opposite really and then we had the now customary Friday chop fest as traders close / adjust / set their trades for the following week.\r\n\r\nOn Friday last week I was set up from a couple of days’ prior for the DXY to retrace lower from its elevated position. The fall in the DXY never really happened the way I thought it would as the USD remained well bid. My retracement trades were left in place and on Friday last week whilst they never really came close to triggering LIVE…the NZD/USD almost did, it came within 35 pips or so.\r\n\r\nThe upshot of all of this was that I went to the sidelines to avoid the choppy market and started on this blog post instead of trading!!\r\n\r\n&nbsp;\r\n<ol start=\"4\">\r\n 	<li><strong> LOOKING FORWARDS:</strong></li>\r\n</ol>\r\n<strong>THIS WEEK’S FOREX and ECONOMIC NEWS – MY VIEWS:</strong>\r\n\r\n<u>THIS WEEK’S FOREX NEWS THAT INTERESTS ME:</u>\r\n\r\n(There are many more news items related to the Forex Market other than the ones listed below. These are the ones that interest me. You can go to <a href=\"http://www.forexfactory.com\">www.forexfactory.com</a> and <a href=\"http://www.tradingeconomics.com\">www.tradingeconomics.com</a> for a more comprehensive lists of all news events that are Forex related).\r\n\r\nSUNDAY: N/A.\r\n\r\nMONDAY: CNY – Manufacturing PMi.\r\nMONDAY: AUD – RBA Rate Statement &amp; Interest Rate announcement.\r\nMONDAY: JPY – BOJ Press Conference and Interest Rate Statement.\r\n\r\nTUESDAY: GBP – Manufacturing PMi.\r\nTUESDAY: CAD – GDP.\r\nTUESDAY: NZD – GDT Dairy Auction Prices.\r\nTUESDAY: CAD – BOC Governor Poloz speaks.\r\nTUESDAY: NZD – Employment Rate / Jobs Report.\r\nTUESDAY: AUD – Building Approvals.\r\nTUESDAY: NZD – RBNZ Inflation Report.\r\n\r\nWEDNESDAY: GBP – Construction PMi.\r\nWEDNESDAY: USD – ADP Non-Farm Employment Numbers.\r\nWEDNESDAY: USD – FOMC statement and FED Funds Rate.\r\nWEDNESDAY: AUD – Trade Balance.\r\n\r\nTHURSDAY: GBP – Services PMi.\r\nTHURSDAY: GBP – BOE Inflation Report, Interest Rates &amp; Policy Statement.\r\nTHURSDAY: USD – ISM Non- Manufacturing PMi.\r\nTHURSDAY: AUD – RBA monetary Policy Statement.\r\nTHURSDAY: AUD – Retail Sales.\r\nTHURSDAY: CAD – BOC Governor Poloz speaks.\r\n\r\nFRIDAY: USD – Non-Farm Employment Data $ Unemployment Rate etc.\r\nFRIDAY: CAD – Employment Data &amp; Unemployment Rate.\r\n\r\nThere is an abundance of news items this week.\r\n\r\nThe big ones in my opinion that I will be very interested in are: -\r\n<ul>\r\n 	<li>S. Non-Farm Payrolls and the FOMC Statement.</li>\r\n 	<li>BOE Inflation Report.</li>\r\n 	<li>NZD Jobs report and Dairy Auction Prices.</li>\r\n 	<li>China PMi.</li>\r\n 	<li>Australian Monetary Policy, Interest Rate Statement and Trade Balance.</li>\r\n</ul>\r\nIt has been some time since the agenda has looked this busy.\r\n\r\nWe must also bear in mind that the BREXIT and U.S. presidential election will be over the news wires like a rash, plus we are now in the same month as the alleged proposed OPEC OIL production cut, this should also start to weigh in.\r\n\r\nAs “THE DONALD” would say it’s “HUGE’.\r\n\r\n<u> </u>\r\n\r\n<u>FOREX TRADING IN GENERAL TERMS THIS WEEK:</u>\r\n\r\nIt has been some time since the weekly data dump was this big, culminating with the U.S. jobs report at the end of the week.\r\n\r\nThose of you who know my approach should not and will probably not be surprised by the following statement, I think this week will be a day trade only environment probably until Friday when a longer-term trading perspective will hopefully be able to be taken.\r\n\r\nI am looking more at cross-rate pairs as we head towards the U.S. Presidential Election. My thought process for this is that should we see a surprise result with “THE DONALD” being victorious. I think that we will have major increased volatility for some time. I just don\'t need this nor do I want this factor hanging over several trades. That does not affect my views too much on my longer-term trades that are currently in place. Hence my thought process moving more to the cross-rate pairs. Having said that, with the volume of economic data due this week, the cross-rates could be scarier than I bargain for.\r\n\r\nWe all saw what happened with the markets last Friday with the FBI announcement over re-opening the case against HILLARY and her emails. The JPY and CHF tanked, the MXN leaped up like a salmon. Somebody hopefully dialed 911 (999) for HILLARY as I think that the fire department will be required to put out the fire from her knickers burning following her claims that all was OK.\r\n\r\nThe bottom line is that trading small and being nimble will be the general order of the day over the next couple of weeks.\r\n\r\nPREMIUM SERVICE subscribers please note, in section 5 I have noted my trade for the night of the Presidential vote.\r\n\r\n<u>THIS COMING WEEK - THE USD MAJORS (MY THOUGHTS): </u>\r\n\r\n(In this section I have as usual kept my charts as minimalist as possible. With regards to charting in my opinion less is more!! I hope that they are clear. All readers regardless of level of experience should be able to follow my thoughts from my comments to the levels on the charts with ease)\r\n\r\nMy comments are contained on the charts.\r\n\r\nEUR/USD - Weekly Closing Price: 1.0981\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/10/EURUSD-DAILY-29102016.png\"><img class=\"aligncenter size-large wp-image-8537\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/10/EURUSD-DAILY-29102016-1024x477.png\" alt=\"eurusd-daily-29102016\" width=\"1024\" height=\"477\" /></a>\r\n\r\nGBP/USD - Weekly Closing Price: 1.2185\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/10/GBPUSD-DAILY-29102016.png\"><img class=\"aligncenter size-large wp-image-8538\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/10/GBPUSD-DAILY-29102016-1024x477.png\" alt=\"gbpusd-daily-29102016\" width=\"1024\" height=\"477\" /></a>\r\n\r\nAUD/USD - Weekly Closing Price: 0.7494\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/10/AUDUSD-DAILY-29102016.png\"><img class=\"aligncenter size-large wp-image-8536\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/10/AUDUSD-DAILY-29102016-1024x477.png\" alt=\"audusd-daily-29102016\" width=\"1024\" height=\"477\" /></a>\r\n\r\nNZD/USD - Weekly Closing Price: 0.7165\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/10/NZDUSD-DAILY-29102016.png\"><img class=\"aligncenter size-large wp-image-8539\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/10/NZDUSD-DAILY-29102016-1024x477.png\" alt=\"nzdusd-daily-29102016\" width=\"1024\" height=\"477\" /></a>\r\n\r\nUSD/CAD - Weekly Closing Price: 1.3391\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/10/USDCAD-DAILY-29102016.png\"><img class=\"aligncenter size-large wp-image-8540\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/10/USDCAD-DAILY-29102016-1024x477.png\" alt=\"usdcad-daily-29102016\" width=\"1024\" height=\"477\" /></a>\r\n\r\nUSD/CHF - Weekly Closing Price: 0.9874\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/10/USDCHF-DAILY-29102016.png\"><img class=\"aligncenter size-large wp-image-8541\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/10/USDCHF-DAILY-29102016-1024x477.png\" alt=\"usdchf-daily-29102016\" width=\"1024\" height=\"477\" /></a>\r\n\r\nUSD/JPY - Weekly Closing Price: 104.66\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/10/USDJPY-DAILY-29102016.png\"><img class=\"aligncenter size-large wp-image-8542\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/10/USDJPY-DAILY-29102016-1024x477.png\" alt=\"usdjpy-daily-29102016\" width=\"1024\" height=\"477\" /></a>\r\n\r\n<u> </u>\r\n\r\n<u> </u>\r\n\r\n<u>THIS COMING WEEK - THE NON-USD MAJORS PAIRS (MY THOUGHTS):</u>\r\n\r\nI don’t want to give away too much in this section as this overlaps with commentary that PREMIUM SERVICE SUBSCRIBERS receive in section 5.\r\n\r\nI am maintaining positions with the EUR/CHF and AUD/NZD, in fact I added two more live trades to my trading position with the AUD/NZD and a further LIMIT ORDER is in place as well.\r\n\r\nMy overall longer-term view regarding the New Zealand economy has not changed and for the foreseeable future I have no problems adding to my bearish views through all NZD trading pairs except the GBP/NZD for BREXIT reasons.\r\n\r\nOther non USD majors that are on my RADAR are: -\r\n\r\nJPY and CHF pairs. I am being a little cautious with my near-term outlook with regards to these pairs given the U.S. election outcome. If we saw “THE DONALD” victorious I am of the opinion that we could see a flight to safety trade appear and the usual suspects of the JPY and CHF could be targeted. The FBI investigation into HILLARY’s emails could lead us down a path we were not expecting to follow.\r\n\r\nLonger-term I want to sell JPY and CHF currencies (i.e. Long USD/JPY &amp; USD/CHF). I just think that until the U.S. election is out of the way we have to exercise some caution.\r\n\r\n<strong> </strong><strong>PREMIUM SERVICE SUBSCRIBER EXCLUSIVE CONTENT AREA:</strong>\r\n\r\nMARKET TRADING REVIEW and LOOKING AHEAD:\r\n\r\nLast week was a quieter week. We added a net 500 pips to the PREMIUM SERVICE total which was great, but I must admit moving into the next two/three weeks will be difficult.\r\n\r\nAs I have stated already given the geopolitical news events on the horizon, I think that it would be prudent to move away from the USD majors for a short time. Then given the mere volume of data due next week, trading cross-rates also has its issues.\r\n\r\nI am comfortable with AUD/NZD it is a longer-term trade and no matter what happens I am just sitting in these trades taking a hundred pips here and there adding positions along the way until we see what I think will be an eventual break higher.\r\n\r\nThe other longer-term POSITION TRADES do not bother me at all.\r\n\r\nHowever, the CHF currency does concern me a little; I have a EUR/CHF FUNDAMENTAL long trade in place. By now, I thought that it would have been a bit higher than current prices. It doesn\'t concern me too much as long as my stop covers potential deeper dips. As I believe all dips will be eaten up by the SNB. Having said that, I‘ve heard this trading strategy before from some traders, and, last year with the sound of “you’ll be OK don\'t worry” still ringing in my ears. My FXCM account was hit with a $10,000+ loss with a GBP/CHF long trade.\r\n\r\nI may look to close the two EUR/CHF trades next week some time.\r\n\r\nThe “Armageddon” DXY pullback trades that I placed in the middle of last week, I am keeping in position. I have my expiration dates for all of these trades at November 30<sup>th</sup> 2016. I just have this niggling feeling that we will see a DXY pullback. We were just bouncing around directionless like a “headless chicken” at the end of last week. I would not rule anything out over the next few weeks. I like the entry levels that I have identified and if these are surpassed, the move to do this across the board would indicate to me a major sentiment change and probably that the FED rate hike is off.\r\n\r\n&nbsp;\r\n\r\nU.S. PRESIDENTIAL ELECTION – MY POSSIBLE TRADE\r\n\r\nNot mentioned in the general blog I am looking very strongly at shorting the GBP/CHF. I am actively looking to sell a bounce…why?\r\n\r\nAs mentioned, I see a possible flight to safety with the CHF occurring. The GBP/CHF is naturally under pressure at the moment with cable trading heavy. Double whammy on the GBP/CHF. At this time, I do not think that the inverse relationship with the EUR/GBP will be as evident.\r\n\r\nI know many people are looking at the USD/MXN as the TRUMP proxy trade and I understand why. My thoughts however are away from USD denominated pairs.\r\n\r\nGiven that about 40% of people eligible to vote in the U.S. have probably done so by now, the 8<sup>th</sup> November voting day could be a bit of an anti-climax. I am just waiting for some damn idiot to open a few boxes of pre-voting ballots and do a pre-count only to release it to CNN. That would keep Wolf Blitzer going to Christmas next year repeating the same story over and over again on an hourly basis.\r\n\r\nBack on track…\r\n\r\nMy BREXIT trades are on the back seat now until after the BOE inflation report this coming Thursday and even then I am not so sure ahead of the DONALD / HILLARY outcome. I have BOT057 (GBP/USD short) at 1.2320, which I think is a line in the sand trade to see who has control of the cable, the buyers or the sellers.\r\n\r\n&nbsp;\r\n\r\nADDITIONAL BROKER ACCOUNTS:\r\n\r\nAs we get nearer to the end of 2016, if any of you are considering adding an additional broker or two to keep PREMIUM SERVICE trades separate or maybe break down into TRADE STYLES, please note that the deals, offers etc. that brokers will be using to attract new clients will intensify.\r\n\r\nIf you are considering such a move please contact me so I can advise which of my brokers on my landing page are offering what.\r\n\r\nVANTAGE FX for example are charging nothing to deposit money into your broker account, whether the transfer in is by credit card or via bank transfer. My account manager David Bily is probably one of the best account managers that I have come across. VANTAGE FX also gives you an edge with 5PM eastern NZD news.\r\n\r\n&nbsp;\r\n\r\nPERISCOPE (UPDATE):\r\n\r\nMy microphone received from Amazon was faulty and I am awaiting the arrival of a new one.\r\n\r\nMy proposal is initially to do a 30-minute presentation on a Monday afternoon my time about 2PM EST.\r\n\r\nI can be totally flexible with this time. If anyone wants to have a PERISCOPE session and this time is difficult please advise so I can review.\r\n\r\n<strong> </strong>\r\n\r\n<strong>TRADES REVIEW:</strong>\r\n\r\nThe excel spreadsheets below details current LIVE and pending LIMIT ORDER trades: -\r\n\r\n<u><a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/10/LIVE-TRADES-29102016.png\"><img class=\"aligncenter size-large wp-image-8535\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/10/LIVE-TRADES-29102016-783x1024.png\" alt=\"live-trades-29102016\" width=\"783\" height=\"1024\" /></a></u>\r\n\r\n<u> </u>\r\n\r\n<u><a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/10/LIMIT-ORDERS-29102016.png\"><img class=\"aligncenter size-large wp-image-8534\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/10/LIMIT-ORDERS-29102016-710x1024.png\" alt=\"limit-orders-29102016\" width=\"710\" height=\"1024\" /></a></u>\r\n<ol start=\"6\">\r\n 	<li><strong> MY CLOSING THOUGHTS:</strong></li>\r\n</ol>\r\nThis is a busy week for Forex traders; time to get down to Costco and stock up on caffeine, or if you prefer the off-licence / liquor store for something a little stronger. I have a feeling us “dark side” traders will be quite “cream crackered” by next weekend.\r\n\r\nIn addition to the Economic data dump do NOT forget at any time some idiot politician looking for 30 seconds of fame could take aim on a media sound-byte and change the direction of any currency pair at the drop of a hat. We have plenty of BRITISH and EUROZONE politicians who love the media, plus the OPEC ministers love a good rumour so be aware and be careful. Already there are noises stating that neither IRAN or IRAQ will freeze output. I stated at the outset of this paperless agreement that in principle OPEC agreements are not policed nor do they mean squat when a push comes to a shove. OPEC is a non-event in my opinion especially as energy dependence diminishes in the Middle East as soon as they realize this then maybe things might progress in a greater business-like manner. Right now it\'s a shambolic collection of greedy feckers who have screwed with my disposable income for too damn long…. in my opinion of course!!\r\n\r\nPlus, we have an FBI investigation being opened into a Presidential candidate days before the vote in the biggest economy in the FREE WORLD. In the words of “THE DONALD” this is “HUGE”. This will play on the markets this week. WE have to be really careful, maybe be sidelined.\r\n\r\nI do NOT need to trade every day. I trade to make money in markets I understand. If I want to gamble in choppy markets I might as well go to Vegas and play roulette. I prefer to let trades come to me at my prices. I have a TRADE PLAN and I PLAN MY TRADES to my plan.\r\n\r\nDo not get suckered into believing the market is moving strongly in one direction. It can and does change in an instant. We are close to several range extremes, which increases volatility and the number of false moves.\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,\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: #117 PREMIUM SERVICE\r\nDATE: 29<sup>th</sup> October 2016.\r\n\r\n&nbsp;','A “HUGE” WEEK FOR NEWS ON THE WAY…','','publish','open','closed','','huge-week-news-way','','','2016-10-29 14:57:38','2016-10-29 19:57:38','',0,'http://weeklyfxdrivethru.com/?post_type=member_posts&#038;p=8543',0,'member_posts','',0),(8544,1,'2016-10-29 14:57:38','2016-10-29 19:57:38','<strong> </strong>\r\n<ol>\r\n 	<li><strong> INTRODUCTION:</strong></li>\r\n</ol>\r\nLast week was a relatively quiet week for economic data releases. Equities, and in particular the U.S. long bonds led the FX markets, plus the now customary mixture of BREXIT, OPEC (OIL), U.S. Presidential Election and sound-bytes from the EUROZONE.\r\n\r\nFrom a trading perspective, I was not very aggressive with trades, always trying to be selective and as choosy on entries as possible to maximize opportunities.\r\n\r\nI would like to share some great news, the PREMIUM SERVICE total pips for 2016 currently stands at 11,618 pips, which exceeds 2014 (11,209 pips) and 2015 (10,686 pips). There are still a few weeks left this year, therefore, the final pip total return could move higher or lower depending upon what happens going into the year end.\r\n\r\nAt the conclusion of every blog (this one as well), I always include a very short a paragraph about trading longevity (see below).\r\n<p style=\"text-align: center;\"><strong><span style=\"color: #0000ff;\"><em>Always 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.</em></span></strong></p>\r\nLast week, I revised my POSITION SIZING guidelines for my trading based upon the various currency pairs available. This is a user guide for subscribers to see what sizes I am trading, based upon my RISK attached to each trade set up that I suggest.\r\n\r\nMy business strap line <strong><u>“The Home of Single-lot Trading”</u> </strong>is based upon my belief, and I have records to back this up is that regardless of how deep your pockets are, you can with RISK &amp; MONEY MANAGEMENT, TRADING DISCIPLINES and POSITION SIZING MANAGEMENT make a good cash return from trading Forex.\r\n\r\nThis is not like gambling in Vegas. You do not have to go all in. I consider trading more like a RISK MANAGEMENT process. It is also not about making big profits trade after trade, that would be great but sadly the world of trading is NOT like that. It is about the consistency of your performance and taking profits at the right time whatever size, adding to your account. Yes, there will be losses but these can be minimized. Like every trader I hate losses, but they are a pre-requisite of trading.\r\n\r\nI have never singled out a specific trade to review in this section of the blog before, but to amplify my point on trading small position sizes and being patient with trading I would like to demonstrate that good returns are possible.\r\n\r\nThe trade parameters were as follows: -\r\n<p style=\"text-align: center;\">POSITION TRADE\r\nREF#: POS 140\r\nUSD/SEK\r\nLONG\r\nENTRY at 8.8800\r\nSTOP 8.2800\r\nLIMIT 10.400\r\n\r\nTRADE CLOSED AT 9.0200 – 26<sup>th</sup> October 2016\r\nMY POSITION SIZE: 10% = 3 MINI LOTS\r\nPROFIT FROM TRADE: $465.60\r\nCOST TO TRADE: $3.30\r\nRISK AT TRADE INCEPTION WAS: c.$200.00</p>\r\nI put a protected stop in place as the pair spiked after a news event. It pulled back and my trade covered early.\r\n\r\nMy point is where else can your RISK / RETURN be this good?\r\n\r\nWhilst my RISK at the outset of the trade was $200.00. My trade basically cost me $3.30 to make $465.60. Where else is your return this good? There are places, but this is instant cash if required and it all happened inside 4 hours.\r\n\r\nObviously there are traders who would trade larger POSITION SIZES than me and many who will trade smaller POSITION SIZES. Regardless of your wallet size we can ALL make $$$.\r\n\r\nHad you traded the lowest possible trade and matched my set up suggested 1 x micro lot with the above trade example: -\r\n<ul>\r\n 	<li>COST TO TRADE $0.11 cents</li>\r\n 	<li>TRADE INCEPTION RISK $6.60</li>\r\n 	<li>ACTUAL TRADE REWARD $15.52</li>\r\n</ul>\r\nThis is NOT a “blow my own horn” approach. There have been many better trades than this this year. I just wanted to show that you do NOT need to have a higher risk to enjoy a good return on your capital.\r\n\r\nThis particular trade is just fresh in my mind, as when I look at my “Tweet deck” page, I see a couple of tweets to me @ThePremServ from one very good trader and PREMIUM SERVICE subscriber who missed this trade and was kicking himself for doing so.\r\n\r\nAs I have said, probably 10-15 times in the past month or so, As Forex Traders, we are in a marathon not a 60 metre dash.\r\n\r\nMoving on…\r\n\r\nJust a quick reminder; each month, I am giving away a FREE PREMIUM SERVICE 4-week subscription. This gives the winner 100% access to the PREMIUM SERVICE website and ALL my PREMIUM SERVICE communications from my suggested trade set-ups to market commentaries and my thoughts.\r\n<p style=\"text-align: center;\">Next month’s (November 2016) FREE SUBSCRIPTION winner is: -</p>\r\n<p style=\"text-align: center;\"><a href=\"mailto:Davidc******@gmail.com\">Davidc******@gmail.com</a></p>\r\nBy the times this blog is posted, I expect David to be fully signed up with full access to the PREMIUM SERVICE.\r\n\r\nTo stand a chance of being the next subscription winner, you need to subscribe to receive this free blog via my website <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a><strong>  </strong><strong> </strong>\r\n\r\nYou are automatically entered into a free monthly draw, once you’ve subscribed. Each month one lucky blog subscriber will receive a free subscription to the PREMIUM SERVICE.\r\n\r\n<strong> </strong>\r\n<ol start=\"2\">\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 the various trade styles plus 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 credit card.\r\n\r\n<u>PREMIUM SERVICE SUBSCRIPTION COSTS:</u>\r\n\r\nDetails of features and benefits of a PREMIUM SERVICE subscription can be found on my website landing page at <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a> under the dropdown tab at the top of the page entitled HISTORY &amp; PERFORMANCE OF THE PREMIUM SERVICE. To subscribe follow the SUBSCRIBE HERE tab.\r\n<p style=\"text-align: center;\">PREMIUM SERVICE subscription costs are as follows: -</p>\r\n<p style=\"text-align: center;\">CAD$240.00 - 4 weeks (1 month)\r\nCAD$500.00 - 10 weeks (3 months)\r\nCAD$750.00 - 20 weeks (6 months)\r\nCAD$1,250.00 - 40 weeks (12 months)\r\n<u>PLUS</u>: Existing PLATINUM MEMBERS (annual subscribers) can re-subscribe for a further 12 months for CAD$1,000.00\r\n\r\nI work for about 40 weeks a year. Subscriptions are based on 40 published blogs of the WEEKLY FX DRIVE THRU per year. For the remaining 10 weeks, I am around tweeting, posting and managing existing LIVE trades, although my market activity is reduced.</p>\r\n<p style=\"text-align: center;\"><u>PREMIUM SERVICE PERFORMANCE:</u></p>\r\n<p style=\"text-align: center;\">PRESENT AND HISTORICAL QUICK PREMIUM SERVICE STATS:</p>\r\n<p style=\"text-align: center;\">NET PIPS THIS MONTH SO FAR:            +2,633 pips\r\nNET PIPS 2016 TODATE:              +11,618 pips</p>\r\n<p style=\"text-align: center;\">NET PIPS 2015:       +10,686 pips\r\nNET PIPS 2014:       +11,209 pips</p>\r\nBelow, for additional information on the past and current trading I include excel spreadsheets detailing the overviews of the PREMIUM SERVICE performance.\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/10/PREM-SERV-PROFITS-2014.png\"><img class=\"aligncenter size-full wp-image-8531\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/10/PREM-SERV-PROFITS-2014.png\" alt=\"prem-serv-profits-2014\" width=\"1022\" height=\"850\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/10/PREM-SERV-NET-2015.png\"><img class=\"aligncenter size-full wp-image-8532\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/10/PREM-SERV-NET-2015.png\" alt=\"prem-serv-net-2015\" width=\"1010\" height=\"872\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/10/PS-NET-PROFITS-2016.png\"><img class=\"aligncenter size-full wp-image-8533\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/10/PS-NET-PROFITS-2016.png\" alt=\"ps-net-profits-2016\" width=\"1010\" height=\"882\" /></a>\r\n\r\n&nbsp;\r\n\r\nIf you would like supporting data or detail about the performance and the tabs on my website landing page at <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a> do not answer your questions, contact me directly and I will supply the trading data you require. There are NO secrets. There are many, many spreadsheets detailing performance trade by trade and by trade and by trading style, way too many to place in this blog. If you are interested in the PREMIUM SERVICE and want more information, all you have to do is ask.\r\n\r\n<strong> </strong>\r\n<ol start=\"3\">\r\n 	<li><strong> LOOKING BACKWARDS: THE FX MARKET PLAC</strong></li>\r\n</ol>\r\n<strong>LAST WEEK’S FOREX and ECONOMIC NEWS – MY VIEWS:</strong>\r\n\r\nMARK CARNEY (BOE GOVERNOR’S TESTIMONY TO HOUSE OF LORDS):\r\n\r\nBasically my summary from Carney’s speech to the House of Lords committee was “Monetary Policy cannot do everything”. I think we heard something very similar very recently from Mario Draghi (ECB President).\r\n\r\nMy take is that he (Carney) can’t really do much now except wait. He did the initial support but now he needs to react to the politicians and to some meaningful economic statistics following the BREXIT vote. He will ignore knee jerk statistics to get a picture with a trend if possible and try to keep ahead of the curve.\r\n\r\nThat aside cable trades very heavy and within striking distance (GBP/USD) of breaking the recent 30+ years low of 1.2076. I still maintain its when rather than if we break this. The 1.2000 psychological number is appealing to the robots and big institutions. The weekly closing numbers with the GBP/USD must have the banks chartists frothing at the mouth with opportunities. At the same time there are always short covering rallies as there are always bottom pickers in the market. Eventually, one sound-byte from either a UK or EUROZONE politician probably based upon the Banking sector future of London being cast in doubt will send this cable crashing across the board.\r\n\r\nI just want the best entry level to short the GBP/USD, GBP/CHF and get long EUR/GBP. Although the CHF is a little off my RADAR at the moment given that I fear a TRUMP victory we could see a JPY and CHF flight to safety trade for a while.\r\n\r\nI digress…\r\n\r\nI think with Theresa May giving Parliament a chance to debate the BREXIT, this will stretch out the date for EUROPEAN UNION discussions and this gives the GBP/USD the chance to recover a little. This is my hope. I have a LIMIT ORDER in place ready at my target entry. The problem is every time cable looks like it’s moving up, it quickly gets swatted down again. There are always sellers ready to enter.\r\n\r\nCarney is on hold for the time being so it’s really up to the politicians to influence the cable price moving forward in my opinion.\r\n\r\n&nbsp;\r\n\r\nU.S. ADVANCE GDP:\r\n\r\nIf ever there was a data release to screw with your mind, and your belief of what was good news and what was bad news this was it.\r\n\r\n2.9% growth… almost 3%.\r\n\r\nI expected the USD to rally like crazy across the board. It never happened, the opposite really and then we had the now customary Friday chop fest as traders close / adjust / set their trades for the following week.\r\n\r\nOn Friday last week I was set up from a couple of days’ prior for the DXY to retrace lower from its elevated position. The fall in the DXY never really happened the way I thought it would as the USD remained well bid. My retracement trades were left in place and on Friday last week whilst they never really came close to triggering LIVE…the NZD/USD almost did, it came within 35 pips or so.\r\n\r\nThe upshot of all of this was that I went to the sidelines to avoid the choppy market and started on this blog post instead of trading!!\r\n\r\n&nbsp;\r\n<ol start=\"4\">\r\n 	<li><strong> LOOKING FORWARDS:</strong></li>\r\n</ol>\r\n<strong>THIS WEEK’S FOREX and ECONOMIC NEWS – MY VIEWS:</strong>\r\n\r\n<u>THIS WEEK’S FOREX NEWS THAT INTERESTS ME:</u>\r\n\r\n(There are many more news items related to the Forex Market other than the ones listed below. These are the ones that interest me. You can go to <a href=\"http://www.forexfactory.com\">www.forexfactory.com</a> and <a href=\"http://www.tradingeconomics.com\">www.tradingeconomics.com</a> for a more comprehensive lists of all news events that are Forex related).\r\n\r\nSUNDAY: N/A.\r\n\r\nMONDAY: CNY – Manufacturing PMi.\r\nMONDAY: AUD – RBA Rate Statement &amp; Interest Rate announcement.\r\nMONDAY: JPY – BOJ Press Conference and Interest Rate Statement.\r\n\r\nTUESDAY: GBP – Manufacturing PMi.\r\nTUESDAY: CAD – GDP.\r\nTUESDAY: NZD – GDT Dairy Auction Prices.\r\nTUESDAY: CAD – BOC Governor Poloz speaks.\r\nTUESDAY: NZD – Employment Rate / Jobs Report.\r\nTUESDAY: AUD – Building Approvals.\r\nTUESDAY: NZD – RBNZ Inflation Report.\r\n\r\nWEDNESDAY: GBP – Construction PMi.\r\nWEDNESDAY: USD – ADP Non-Farm Employment Numbers.\r\nWEDNESDAY: USD – FOMC statement and FED Funds Rate.\r\nWEDNESDAY: AUD – Trade Balance.\r\n\r\nTHURSDAY: GBP – Services PMi.\r\nTHURSDAY: GBP – BOE Inflation Report, Interest Rates &amp; Policy Statement.\r\nTHURSDAY: USD – ISM Non- Manufacturing PMi.\r\nTHURSDAY: AUD – RBA monetary Policy Statement.\r\nTHURSDAY: AUD – Retail Sales.\r\nTHURSDAY: CAD – BOC Governor Poloz speaks.\r\n\r\nFRIDAY: USD – Non-Farm Employment Data $ Unemployment Rate etc.\r\nFRIDAY: CAD – Employment Data &amp; Unemployment Rate.\r\n\r\nThere is an abundance of news items this week.\r\n\r\nThe big ones in my opinion that I will be very interested in are: -\r\n<ul>\r\n 	<li>S. Non-Farm Payrolls and the FOMC Statement.</li>\r\n 	<li>BOE Inflation Report.</li>\r\n 	<li>NZD Jobs report and Dairy Auction Prices.</li>\r\n 	<li>China PMi.</li>\r\n 	<li>Australian Monetary Policy, Interest Rate Statement and Trade Balance.</li>\r\n</ul>\r\nIt has been some time since the agenda has looked this busy.\r\n\r\nWe must also bear in mind that the BREXIT and U.S. presidential election will be over the news wires like a rash, plus we are now in the same month as the alleged proposed OPEC OIL production cut, this should also start to weigh in.\r\n\r\nAs “THE DONALD” would say it’s “HUGE’.\r\n\r\n<u> </u>\r\n\r\n<u>FOREX TRADING IN GENERAL TERMS THIS WEEK:</u>\r\n\r\nIt has been some time since the weekly data dump was this big, culminating with the U.S. jobs report at the end of the week.\r\n\r\nThose of you who know my approach should not and will probably not be surprised by the following statement, I think this week will be a day trade only environment probably until Friday when a longer-term trading perspective will hopefully be able to be taken.\r\n\r\nI am looking more at cross-rate pairs as we head towards the U.S. Presidential Election. My thought process for this is that should we see a surprise result with “THE DONALD” being victorious. I think that we will have major increased volatility for some time. I just don\'t need this nor do I want this factor hanging over several trades. That does not affect my views too much on my longer-term trades that are currently in place. Hence my thought process moving more to the cross-rate pairs. Having said that, with the volume of economic data due this week, the cross-rates could be scarier than I bargain for.\r\n\r\nWe all saw what happened with the markets last Friday with the FBI announcement over re-opening the case against HILLARY and her emails. The JPY and CHF tanked, the MXN leaped up like a salmon. Somebody hopefully dialed 911 (999) for HILLARY as I think that the fire department will be required to put out the fire from her knickers burning following her claims that all was OK.\r\n\r\nThe bottom line is that trading small and being nimble will be the general order of the day over the next couple of weeks.\r\n\r\nPREMIUM SERVICE subscribers please note, in section 5 I have noted my trade for the night of the Presidential vote.\r\n\r\n<u>THIS COMING WEEK - THE USD MAJORS (MY THOUGHTS): </u>\r\n\r\n(In this section I have as usual kept my charts as minimalist as possible. With regards to charting in my opinion less is more!! I hope that they are clear. All readers regardless of level of experience should be able to follow my thoughts from my comments to the levels on the charts with ease)\r\n\r\nMy comments are contained on the charts.\r\n\r\nEUR/USD - Weekly Closing Price: 1.0981\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/10/EURUSD-DAILY-29102016.png\"><img class=\"aligncenter size-large wp-image-8537\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/10/EURUSD-DAILY-29102016-1024x477.png\" alt=\"eurusd-daily-29102016\" width=\"1024\" height=\"477\" /></a>\r\n\r\nGBP/USD - Weekly Closing Price: 1.2185\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/10/GBPUSD-DAILY-29102016.png\"><img class=\"aligncenter size-large wp-image-8538\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/10/GBPUSD-DAILY-29102016-1024x477.png\" alt=\"gbpusd-daily-29102016\" width=\"1024\" height=\"477\" /></a>\r\n\r\nAUD/USD - Weekly Closing Price: 0.7494\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/10/AUDUSD-DAILY-29102016.png\"><img class=\"aligncenter size-large wp-image-8536\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/10/AUDUSD-DAILY-29102016-1024x477.png\" alt=\"audusd-daily-29102016\" width=\"1024\" height=\"477\" /></a>\r\n\r\nNZD/USD - Weekly Closing Price: 0.7165\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/10/NZDUSD-DAILY-29102016.png\"><img class=\"aligncenter size-large wp-image-8539\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/10/NZDUSD-DAILY-29102016-1024x477.png\" alt=\"nzdusd-daily-29102016\" width=\"1024\" height=\"477\" /></a>\r\n\r\nUSD/CAD - Weekly Closing Price: 1.3391\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/10/USDCAD-DAILY-29102016.png\"><img class=\"aligncenter size-large wp-image-8540\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/10/USDCAD-DAILY-29102016-1024x477.png\" alt=\"usdcad-daily-29102016\" width=\"1024\" height=\"477\" /></a>\r\n\r\nUSD/CHF - Weekly Closing Price: 0.9874\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/10/USDCHF-DAILY-29102016.png\"><img class=\"aligncenter size-large wp-image-8541\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/10/USDCHF-DAILY-29102016-1024x477.png\" alt=\"usdchf-daily-29102016\" width=\"1024\" height=\"477\" /></a>\r\n\r\nUSD/JPY - Weekly Closing Price: 104.66\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/10/USDJPY-DAILY-29102016.png\"><img class=\"aligncenter size-large wp-image-8542\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/10/USDJPY-DAILY-29102016-1024x477.png\" alt=\"usdjpy-daily-29102016\" width=\"1024\" height=\"477\" /></a>\r\n\r\n<u> </u>\r\n\r\n<u> </u>\r\n\r\n<u>THIS COMING WEEK - THE NON-USD MAJORS PAIRS (MY THOUGHTS):</u>\r\n\r\nI don’t want to give away too much in this section as this overlaps with commentary that PREMIUM SERVICE SUBSCRIBERS receive in section 5.\r\n\r\nI am maintaining positions with the EUR/CHF and AUD/NZD, in fact I added two more live trades to my trading position with the AUD/NZD and a further LIMIT ORDER is in place as well.\r\n\r\nMy overall longer-term view regarding the New Zealand economy has not changed and for the foreseeable future I have no problems adding to my bearish views through all NZD trading pairs except the GBP/NZD for BREXIT reasons.\r\n\r\nOther non USD majors that are on my RADAR are: -\r\n\r\nJPY and CHF pairs. I am being a little cautious with my near-term outlook with regards to these pairs given the U.S. election outcome. If we saw “THE DONALD” victorious I am of the opinion that we could see a flight to safety trade appear and the usual suspects of the JPY and CHF could be targeted. The FBI investigation into HILLARY’s emails could lead us down a path we were not expecting to follow.\r\n\r\nLonger-term I want to sell JPY and CHF currencies (i.e. Long USD/JPY &amp; USD/CHF). I just think that until the U.S. election is out of the way we have to exercise some caution.\r\n\r\n<strong> </strong><strong>PREMIUM SERVICE SUBSCRIBER EXCLUSIVE CONTENT AREA:</strong>\r\n\r\nMARKET TRADING REVIEW and LOOKING AHEAD:\r\n\r\nLast week was a quieter week. We added a net 500 pips to the PREMIUM SERVICE total which was great, but I must admit moving into the next two/three weeks will be difficult.\r\n\r\nAs I have stated already given the geopolitical news events on the horizon, I think that it would be prudent to move away from the USD majors for a short time. Then given the mere volume of data due next week, trading cross-rates also has its issues.\r\n\r\nI am comfortable with AUD/NZD it is a longer-term trade and no matter what happens I am just sitting in these trades taking a hundred pips here and there adding positions along the way until we see what I think will be an eventual break higher.\r\n\r\nThe other longer-term POSITION TRADES do not bother me at all.\r\n\r\nHowever, the CHF currency does concern me a little; I have a EUR/CHF FUNDAMENTAL long trade in place. By now, I thought that it would have been a bit higher than current prices. It doesn\'t concern me too much as long as my stop covers potential deeper dips. As I believe all dips will be eaten up by the SNB. Having said that, I‘ve heard this trading strategy before from some traders, and, last year with the sound of “you’ll be OK don\'t worry” still ringing in my ears. My FXCM account was hit with a $10,000+ loss with a GBP/CHF long trade.\r\n\r\nI may look to close the two EUR/CHF trades next week some time.\r\n\r\nThe “Armageddon” DXY pullback trades that I placed in the middle of last week, I am keeping in position. I have my expiration dates for all of these trades at November 30<sup>th</sup> 2016. I just have this niggling feeling that we will see a DXY pullback. We were just bouncing around directionless like a “headless chicken” at the end of last week. I would not rule anything out over the next few weeks. I like the entry levels that I have identified and if these are surpassed, the move to do this across the board would indicate to me a major sentiment change and probably that the FED rate hike is off.\r\n\r\n&nbsp;\r\n\r\nU.S. PRESIDENTIAL ELECTION – MY POSSIBLE TRADE\r\n\r\nNot mentioned in the general blog I am looking very strongly at shorting the GBP/CHF. I am actively looking to sell a bounce…why?\r\n\r\nAs mentioned, I see a possible flight to safety with the CHF occurring. The GBP/CHF is naturally under pressure at the moment with cable trading heavy. Double whammy on the GBP/CHF. At this time, I do not think that the inverse relationship with the EUR/GBP will be as evident.\r\n\r\nI know many people are looking at the USD/MXN as the TRUMP proxy trade and I understand why. My thoughts however are away from USD denominated pairs.\r\n\r\nGiven that about 40% of people eligible to vote in the U.S. have probably done so by now, the 8<sup>th</sup> November voting day could be a bit of an anti-climax. I am just waiting for some damn idiot to open a few boxes of pre-voting ballots and do a pre-count only to release it to CNN. That would keep Wolf Blitzer going to Christmas next year repeating the same story over and over again on an hourly basis.\r\n\r\nBack on track…\r\n\r\nMy BREXIT trades are on the back seat now until after the BOE inflation report this coming Thursday and even then I am not so sure ahead of the DONALD / HILLARY outcome. I have BOT057 (GBP/USD short) at 1.2320, which I think is a line in the sand trade to see who has control of the cable, the buyers or the sellers.\r\n\r\n&nbsp;\r\n\r\nADDITIONAL BROKER ACCOUNTS:\r\n\r\nAs we get nearer to the end of 2016, if any of you are considering adding an additional broker or two to keep PREMIUM SERVICE trades separate or maybe break down into TRADE STYLES, please note that the deals, offers etc. that brokers will be using to attract new clients will intensify.\r\n\r\nIf you are considering such a move please contact me so I can advise which of my brokers on my landing page are offering what.\r\n\r\nVANTAGE FX for example are charging nothing to deposit money into your broker account, whether the transfer in is by credit card or via bank transfer. My account manager David Bily is probably one of the best account managers that I have come across. VANTAGE FX also gives you an edge with 5PM eastern NZD news.\r\n\r\n&nbsp;\r\n\r\nPERISCOPE (UPDATE):\r\n\r\nMy microphone received from Amazon was faulty and I am awaiting the arrival of a new one.\r\n\r\nMy proposal is initially to do a 30-minute presentation on a Monday afternoon my time about 2PM EST.\r\n\r\nI can be totally flexible with this time. If anyone wants to have a PERISCOPE session and this time is difficult please advise so I can review.\r\n\r\n<strong> </strong>\r\n\r\n<strong>TRADES REVIEW:</strong>\r\n\r\nThe excel spreadsheets below details current LIVE and pending LIMIT ORDER trades: -\r\n\r\n<u><a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/10/LIVE-TRADES-29102016.png\"><img class=\"aligncenter size-large wp-image-8535\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/10/LIVE-TRADES-29102016-783x1024.png\" alt=\"live-trades-29102016\" width=\"783\" height=\"1024\" /></a></u>\r\n\r\n<u> </u>\r\n\r\n<u><a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/10/LIMIT-ORDERS-29102016.png\"><img class=\"aligncenter size-large wp-image-8534\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/10/LIMIT-ORDERS-29102016-710x1024.png\" alt=\"limit-orders-29102016\" width=\"710\" height=\"1024\" /></a></u>\r\n<ol start=\"6\">\r\n 	<li><strong> MY CLOSING THOUGHTS:</strong></li>\r\n</ol>\r\nThis is a busy week for Forex traders; time to get down to Costco and stock up on caffeine, or if you prefer the off-licence / liquor store for something a little stronger. I have a feeling us “dark side” traders will be quite “cream crackered” by next weekend.\r\n\r\nIn addition to the Economic data dump do NOT forget at any time some idiot politician looking for 30 seconds of fame could take aim on a media sound-byte and change the direction of any currency pair at the drop of a hat. We have plenty of BRITISH and EUROZONE politicians who love the media, plus the OPEC ministers love a good rumour so be aware and be careful. Already there are noises stating that neither IRAN or IRAQ will freeze output. I stated at the outset of this paperless agreement that in principle OPEC agreements are not policed nor do they mean squat when a push comes to a shove. OPEC is a non-event in my opinion especially as energy dependence diminishes in the Middle East as soon as they realize this then maybe things might progress in a greater business-like manner. Right now it\'s a shambolic collection of greedy feckers who have screwed with my disposable income for too damn long…. in my opinion of course!!\r\n\r\nPlus, we have an FBI investigation being opened into a Presidential candidate days before the vote in the biggest economy in the FREE WORLD. In the words of “THE DONALD” this is “HUGE”. This will play on the markets this week. WE have to be really careful, maybe be sidelined.\r\n\r\nI do NOT need to trade every day. I trade to make money in markets I understand. If I want to gamble in choppy markets I might as well go to Vegas and play roulette. I prefer to let trades come to me at my prices. I have a TRADE PLAN and I PLAN MY TRADES to my plan.\r\n\r\nDo not get suckered into believing the market is moving strongly in one direction. It can and does change in an instant. We are close to several range extremes, which increases volatility and the number of false moves.\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,\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: #117 PREMIUM SERVICE\r\nDATE: 29<sup>th</sup> October 2016.\r\n\r\n&nbsp;','A “HUGE” WEEK FOR NEWS ON THE WAY…','','inherit','closed','closed','','8543-revision-v1','','','2016-10-29 14:57:38','2016-10-29 19:57:38','',8543,'http://weeklyfxdrivethru.com/8543-revision-v1/',0,'revision','',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),(8550,1,'2016-10-29 15:26:27','2016-10-29 20:26:27','<strong> </strong>\r\n<ol>\r\n 	<li><strong> INTRODUCTION:</strong></li>\r\n</ol>\r\nLast week was a relatively quiet week for economic data releases. Equities, and in particular the U.S. long bonds led the FX markets, plus the now customary mixture of BREXIT, OPEC (OIL), U.S. Presidential Election and sound-bytes from the EUROZONE.\r\n\r\nFrom a trading perspective, I was not very aggressive with trades, always trying to be selective and as choosy on entries as possible to maximize opportunities.\r\n\r\nI would like to share some great news, the PREMIUM SERVICE total pips for 2016 currently stands at 11,618 pips, which exceeds 2014 (11,209 pips) and 2015 (10,686 pips). There are still a few weeks left this year, therefore, the final pip total return could move higher or lower depending upon what happens going into the year end.\r\n\r\nAt the conclusion of every blog (this one as well), I always include a very short a paragraph about trading longevity (see below).\r\n<p style=\"text-align: center;\"><em><strong><span style=\"color: #3366ff;\">Always 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.</span></strong></em></p>\r\nLast week, I revised my POSITION SIZING guidelines for my trading based upon the various currency pairs available. This is a user guide for subscribers to see what sizes I am trading, based upon my RISK attached to each trade set up that I suggest.\r\n\r\nMy business strap line <strong><u>“The Home of Single-lot Trading”</u> </strong>is based upon my belief, and I have records to back this up is that regardless of how deep your pockets are, you can with RISK &amp; MONEY MANAGEMENT, TRADING DISCIPLINES and POSITION SIZING MANAGEMENT make a good cash return from trading Forex.\r\n\r\nThis is not like gambling in Vegas. You do not have to go all in. I consider trading more like a RISK MANAGEMENT process. It is also not about making big profits trade after trade, that would be great but sadly the world of trading is NOT like that. It is about the consistency of your performance and taking profits at the right time whatever size, adding to your account. Yes, there will be losses but these can be minimized. Like every trader I hate losses, but they are a pre-requisite of trading.\r\n\r\nI have never singled out a specific trade to review in this section of the blog before, but to amplify my point on trading small position sizes and being patient with trading I would like to demonstrate that good returns are possible.\r\n<p style=\"text-align: center;\">The trade parameters were as follows: -</p>\r\n<p style=\"text-align: center;\">POSITION TRADE\r\nREF#: POS 140\r\nUSD/SEK\r\nLONG\r\nENTRY at 8.8800\r\nSTOP 8.2800\r\nLIMIT 10.400</p>\r\n<p style=\"text-align: center;\">TRADE CLOSED AT 9.0200 – 26<sup>th</sup> October 2016\r\nMY POSITION SIZE - 10% = 3 MINI LOTS\r\nPROFIT FROM TRADE $465.60\r\nCOST TO TRADE $3.30\r\nRISK AT TRADE INCEPTION WAS c.$200.00</p>\r\n<p style=\"text-align: left;\">I put a protected stop in place as the pair spiked after a news event. It pulled back and my trade covered early.</p>\r\nMy point is where else can your RISK / RETURN be this good?\r\n\r\nWhilst my RISK at the outset of the trade was $200.00. My trade basically cost me $3.30 to make $465.60. Where else is your return this good? There are places, but this is instant cash if required and it all happened inside 4 hours.\r\n\r\nObviously there are traders who would trade larger POSITION SIZES than me and many who will trade smaller POSITION SIZES. Regardless of your wallet size we can ALL make $$$.\r\n\r\nHad you traded the lowest possible trade and matched my set up suggested 1 x micro lot with the above trade example: -\r\n<ul>\r\n 	<li>COST TO TRADE $0.11 cents</li>\r\n 	<li>TRADE INCEPTION RISK $6.60</li>\r\n 	<li>ACTUAL TRADE REWARD $15.52</li>\r\n</ul>\r\nThis is NOT a “blow my own horn” approach. There have been many better trades than this this year. I just wanted to show that you do NOT need to have a higher risk to enjoy a good return on your capital.\r\n\r\nThis particular trade is just fresh in my mind, as when I look at my “Tweet deck” page, I see a couple of tweets to me @ThePremServ from one very good trader and PREMIUM SERVICE subscriber who missed this trade and was kicking himself for doing so.\r\n\r\nAs I have said, probably 10-15 times in the past month or so, As Forex Traders, we are in a marathon not a 60 metre dash.\r\n\r\nMoving on…\r\n\r\nJust a quick reminder; each month, I am giving away a FREE PREMIUM SERVICE 4-week subscription. This gives the winner 100% access to the PREMIUM SERVICE website and ALL my PREMIUM SERVICE communications from my suggested trade set-ups to market commentaries and my thoughts.\r\n<p style=\"text-align: center;\">Next month’s (November 2016) FREE SUBSCRIPTION winner is: -</p>\r\n<p style=\"text-align: center;\"><a href=\"mailto:Davidc******@gmail.com\">Davidc******@gmail.com</a></p>\r\nBy the times this blog is posted, I expect David to be fully signed up with full access to the PREMIUM SERVICE.\r\n\r\nTo stand a chance of being the next subscription winner, you need to subscribe to receive this free blog via my website <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a><strong>  </strong>\r\n\r\nYou are automatically entered into a free monthly draw, once you’ve subscribed. Each month one lucky blog subscriber will receive a free subscription to the PREMIUM SERVICE.\r\n\r\n<strong> </strong>\r\n<ol start=\"2\">\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 the various trade styles plus 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 credit card.\r\n<p style=\"text-align: center;\"><u>PREMIUM SERVICE SUBSCRIPTION COSTS:</u></p>\r\n<p style=\"text-align: center;\">Details of features and benefits of a PREMIUM SERVICE subscription can be found on my website landing page at <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a> under the dropdown tab at the top of the page entitled HISTORY &amp; PERFORMANCE OF THE PREMIUM SERVICE. To subscribe follow the SUBSCRIBE HERE tab.</p>\r\n<p style=\"text-align: center;\">PREMIUM SERVICE subscription costs are as follows: -</p>\r\n<p style=\"text-align: center;\">CAD$240.00 - 4 weeks (1 month)\r\nCAD$500.00 - 10 weeks (3 months)\r\nCAD$750.00 - 20 weeks (6 months)\r\nCAD$1,250.00 - 40 weeks (12 months)\r\n<u>PLUS</u>: Existing PLATINUM MEMBERS (annual subscribers) can re-subscribe for a further 12 months for CAD$1,000.00\r\n\r\nI work for about 40 weeks a year. Subscriptions are based on 40 published blogs of the WEEKLY FX DRIVE THRU per year. For the remaining 10 weeks, I am around tweeting, posting and managing existing LIVE trades, although my market activity is reduced.</p>\r\n<p style=\"text-align: center;\"><u>PREMIUM SERVICE PERFORMANCE:</u></p>\r\n<p style=\"text-align: center;\">PRESENT AND HISTORICAL QUICK PREMIUM SERVICE STATS:</p>\r\n<p style=\"text-align: center;\">NET PIPS THIS MONTH SO FAR:            +2,633 pips\r\nNET PIPS 2016 TO DATE:              +11,618 pips</p>\r\n<p style=\"text-align: center;\">NET PIPS 2015:       +10,686 pips\r\nNET PIPS 2014:       +11,209 pips</p>\r\nBelow, for additional information on the past and current trading I include excel spreadsheets detailing the overviews of the PREMIUM SERVICE performance.\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/10/PREM-SERV-PROFITS-2014.png\"><img class=\"aligncenter size-full wp-image-8531\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/10/PREM-SERV-PROFITS-2014.png\" alt=\"prem-serv-profits-2014\" width=\"1022\" height=\"850\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/10/PREM-SERV-NET-2015.png\"><img class=\"aligncenter size-full wp-image-8532\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/10/PREM-SERV-NET-2015.png\" alt=\"prem-serv-net-2015\" width=\"1010\" height=\"872\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/10/PS-NET-PROFITS-2016.png\"><img class=\"aligncenter size-full wp-image-8533\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/10/PS-NET-PROFITS-2016.png\" alt=\"ps-net-profits-2016\" width=\"1010\" height=\"882\" /></a>\r\n\r\n&nbsp;\r\n\r\nIf you would like supporting data or detail about the performance and the tabs on my website landing page at <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a> do not answer your questions, contact me directly and I will supply the trading data you require. There are NO secrets. There are many, many spreadsheets detailing performance trade by trade and by trade and by trading style, way too many to place in this blog. If you are interested in the PREMIUM SERVICE and want more information, all you have to do is ask.\r\n\r\n<strong> </strong>\r\n<ol start=\"3\">\r\n 	<li><strong> LOOKING BACKWARDS: THE FX MARKET PLACE</strong></li>\r\n</ol>\r\n<strong>LAST WEEK’S FOREX and ECONOMIC NEWS – MY VIEWS:</strong>\r\n\r\nMARK CARNEY (BOE GOVERNOR’S TESTIMONY TO HOUSE OF LORDS):\r\n\r\nBasically my summary from Carney’s speech to the House of Lords committee was “Monetary Policy cannot do everything”. I think we heard something very similar very recently from Mario Draghi (ECB President).\r\n\r\nMy take is that he (Carney) can’t really do much now except wait. He did the initial support but now he needs to react to the politicians and to some meaningful economic statistics following the BREXIT vote. He will ignore knee jerk statistics to get a picture with a trend if possible and try to keep ahead of the curve.\r\n\r\nThat aside cable trades very heavy and within striking distance (GBP/USD) of breaking the recent 30+ years low of 1.2076. I still maintain its when rather than if we break this. The 1.2000 psychological number is appealing to the robots and big institutions. The weekly closing numbers with the GBP/USD must have the banks chartists frothing at the mouth with opportunities. At the same time there are always short covering rallies as there are always bottom pickers in the market. Eventually, one sound-byte from either a UK or EUROZONE politician probably based upon the Banking sector future of London being cast in doubt will send this cable crashing across the board.\r\n\r\nI just want the best entry level to short the GBP/USD, GBP/CHF and get long EUR/GBP. Although the CHF is a little off my RADAR at the moment given that I fear a TRUMP victory we could see a JPY and CHF flight to safety trade for a while.\r\n\r\nI digress…\r\n\r\nI think with Theresa May giving Parliament a chance to debate the BREXIT, this will stretch out the date for EUROPEAN UNION discussions and this gives the GBP/USD the chance to recover a little. This is my hope. I have a LIMIT ORDER in place ready at my target entry. The problem is every time cable looks like it’s moving up, it quickly gets swatted down again. There are always sellers ready to enter.\r\n\r\nCarney is on hold for the time being so it’s really up to the politicians to influence the cable price moving forward in my opinion.\r\n\r\n&nbsp;\r\n\r\nU.S. ADVANCE GDP:\r\n\r\nIf ever there was a data release to screw with your mind, and your belief of what was good news and what was bad news this was it.\r\n\r\n2.9% growth… almost 3%.\r\n\r\nI expected the USD to rally like crazy across the board. It never happened, the opposite really and then we had the now customary Friday chop fest as traders close / adjust / set their trades for the following week.\r\n\r\nOn Friday last week I was set up from a couple of days’ prior for the DXY to retrace lower from its elevated position. The fall in the DXY never really happened the way I thought it would as the USD remained well bid. My retracement trades were left in place and on Friday last week whilst they never really came close to triggering LIVE…the NZD/USD almost did, it came within 35 pips or so.\r\n\r\nThe upshot of all of this was that I went to the sidelines to avoid the choppy market and started on this blog post instead of trading!!\r\n\r\n&nbsp;\r\n<ol start=\"4\">\r\n 	<li><strong> LOOKING FORWARDS:</strong></li>\r\n</ol>\r\n<strong>THIS WEEK’S FOREX and ECONOMIC NEWS – MY VIEWS:</strong>\r\n\r\n<u>THIS WEEK’S FOREX NEWS THAT INTERESTS ME:</u>\r\n\r\n(There are many more news items related to the Forex Market other than the ones listed below. These are the ones that interest me. You can go to <a href=\"http://www.forexfactory.com\">www.forexfactory.com</a> and <a href=\"http://www.tradingeconomics.com\">www.tradingeconomics.com</a> for a more comprehensive lists of all news events that are Forex related).\r\n\r\nSUNDAY: N/A.\r\n\r\nMONDAY: CNY – Manufacturing PMi.\r\nMONDAY: AUD – RBA Rate Statement &amp; Interest Rate announcement.\r\nMONDAY: JPY – BOJ Press Conference and Interest Rate Statement.\r\n\r\nTUESDAY: GBP – Manufacturing PMi.\r\nTUESDAY: CAD – GDP.\r\nTUESDAY: NZD – GDT Dairy Auction Prices.\r\nTUESDAY: CAD – BOC Governor Poloz speaks.\r\nTUESDAY: NZD – Employment Rate / Jobs Report.\r\nTUESDAY: AUD – Building Approvals.\r\nTUESDAY: NZD – RBNZ Inflation Report.\r\n\r\nWEDNESDAY: GBP – Construction PMi.\r\nWEDNESDAY: USD – ADP Non-Farm Employment Numbers.\r\nWEDNESDAY: USD – FOMC statement and FED Funds Rate.\r\nWEDNESDAY: AUD – Trade Balance.\r\n\r\nTHURSDAY: GBP – Services PMi.\r\nTHURSDAY: GBP – BOE Inflation Report, Interest Rates &amp; Policy Statement.\r\nTHURSDAY: USD – ISM Non- Manufacturing PMi.\r\nTHURSDAY: AUD – RBA monetary Policy Statement.\r\nTHURSDAY: AUD – Retail Sales.\r\nTHURSDAY: CAD – BOC Governor Poloz speaks.\r\n\r\nFRIDAY: USD – Non-Farm Employment Data $ Unemployment Rate etc.\r\nFRIDAY: CAD – Employment Data &amp; Unemployment Rate.\r\n\r\nThere is an abundance of news items this week.\r\n\r\nThe big ones in my opinion that I will be very interested in are: -\r\n<ul>\r\n 	<li>S. Non-Farm Payrolls and the FOMC Statement.</li>\r\n 	<li>BOE Inflation Report.</li>\r\n 	<li>NZD Jobs report and Dairy Auction Prices.</li>\r\n 	<li>China PMi.</li>\r\n 	<li>Australian Monetary Policy, Interest Rate Statement and Trade Balance.</li>\r\n</ul>\r\nIt has been some time since the agenda has looked this busy.\r\n\r\nWe must also bear in mind that the BREXIT and U.S. presidential election will be over the news wires like a rash, plus we are now in the same month as the alleged proposed OPEC OIL production cut, this should also start to weigh in.\r\n\r\nAs “THE DONALD” would say it’s “HUGE’.\r\n\r\n<u> </u>\r\n\r\n<u>FOREX TRADING IN GENERAL TERMS THIS WEEK:</u>\r\n\r\nIt has been some time since the weekly data dump was this big, culminating with the U.S. jobs report at the end of the week.\r\n\r\nThose of you who know my approach should not and will probably not be surprised by the following statement, I think this week will be a day trade only environment probably until Friday when a longer-term trading perspective will hopefully be able to be taken.\r\n\r\nI am looking more at cross-rate pairs as we head towards the U.S. Presidential Election. My thought process for this is that should we see a surprise result with “THE DONALD” being victorious. I think that we will have major increased volatility for some time. I just don\'t need this nor do I want this factor hanging over several trades. That does not affect my views too much on my longer-term trades that are currently in place. Hence my thought process moving more to the cross-rate pairs. Having said that, with the volume of economic data due this week, the cross-rates could be scarier than I bargain for.\r\n\r\nWe all saw what happened with the markets last Friday with the FBI announcement over re-opening the case against HILLARY and her emails. The JPY and CHF tanked, the MXN leaped up like a salmon. Somebody hopefully dialed 911 (999) for HILLARY as I think that the fire department will be required to put out the fire from her knickers burning following her claims that all was OK.\r\n\r\nThe bottom line is that trading small and being nimble will be the general order of the day over the next couple of weeks.\r\n\r\nPREMIUM SERVICE subscribers please note, in section 5 I have noted my trade for the night of the Presidential vote.\r\n\r\n&nbsp;\r\n\r\n<u>THIS COMING WEEK - THE USD MAJORS (MY THOUGHTS): </u>\r\n\r\n(In this section I have as usual kept my charts as minimalist as possible. With regards to charting in my opinion less is more!! I hope that they are clear. All readers regardless of level of experience should be able to follow my thoughts from my comments to the levels on the charts with ease)\r\n\r\nMy comments are contained on the charts.\r\n\r\nEUR/USD - Weekly Closing Price: 1.0981\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/10/EURUSD-DAILY-29102016.png\"><img class=\"aligncenter size-large wp-image-8537\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/10/EURUSD-DAILY-29102016-1024x477.png\" alt=\"eurusd-daily-29102016\" width=\"1024\" height=\"477\" /></a>\r\n\r\nGBP/USD - Weekly Closing Price: 1.2185\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/10/GBPUSD-DAILY-29102016.png\"><img class=\"aligncenter size-large wp-image-8538\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/10/GBPUSD-DAILY-29102016-1024x477.png\" alt=\"gbpusd-daily-29102016\" width=\"1024\" height=\"477\" /></a>\r\n\r\nAUD/USD - Weekly Closing Price: 0.7494\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/10/AUDUSD-DAILY-29102016.png\"><img class=\"aligncenter size-large wp-image-8536\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/10/AUDUSD-DAILY-29102016-1024x477.png\" alt=\"audusd-daily-29102016\" width=\"1024\" height=\"477\" /></a>\r\n\r\nNZD/USD - Weekly Closing Price: 0.7165\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/10/NZDUSD-DAILY-29102016.png\"><img class=\"aligncenter size-large wp-image-8539\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/10/NZDUSD-DAILY-29102016-1024x477.png\" alt=\"nzdusd-daily-29102016\" width=\"1024\" height=\"477\" /></a>\r\n\r\nUSD/CAD - Weekly Closing Price: 1.3391\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/10/USDCAD-DAILY-29102016.png\"><img class=\"aligncenter size-large wp-image-8540\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/10/USDCAD-DAILY-29102016-1024x477.png\" alt=\"usdcad-daily-29102016\" width=\"1024\" height=\"477\" /></a>\r\n\r\nUSD/CHF - Weekly Closing Price: 0.9874\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/10/USDCHF-DAILY-29102016.png\"><img class=\"aligncenter size-large wp-image-8541\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/10/USDCHF-DAILY-29102016-1024x477.png\" alt=\"usdchf-daily-29102016\" width=\"1024\" height=\"477\" /></a>\r\n\r\nUSD/JPY - Weekly Closing Price: 104.66\r\n\r\n<u><a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/10/USDJPY-DAILY-29102016.png\"><img class=\"aligncenter size-large wp-image-8542\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/10/USDJPY-DAILY-29102016-1024x477.png\" alt=\"usdjpy-daily-29102016\" width=\"1024\" height=\"477\" /></a></u>\r\n\r\n<u> </u>\r\n\r\n<u>THIS COMING WEEK - THE NON-USD MAJORS PAIRS (MY THOUGHTS):</u>\r\n\r\nI don’t want to give away too much in this section as this overlaps with commentary that PREMIUM SERVICE SUBSCRIBERS receive in section 5.\r\n\r\nI am maintaining positions with the EUR/CHF and AUD/NZD, in fact I added two more live trades to my trading position with the AUD/NZD and a further LIMIT ORDER is in place as well.\r\n\r\nMy overall longer-term view regarding the New Zealand economy has not changed and for the foreseeable future I have no problems adding to my bearish views through all NZD trading pairs except the GBP/NZD for BREXIT reasons.\r\n\r\nOther non USD majors that are on my RADAR are: -\r\n\r\nJPY and CHF pairs. I am being a little cautious with my near-term outlook with regards to these pairs given the U.S. election outcome. If we saw “THE DONALD” victorious I am of the opinion that we could see a flight to safety trade appear and the usual suspects of the JPY and CHF could be targeted. The FBI investigation into HILLARY’s emails could lead us down a path we were not expecting to follow.\r\n\r\nLonger-term I want to sell JPY and CHF currencies (i.e. Long USD/JPY &amp; USD/CHF). I just think that until the U.S. election is out of the way we have to exercise some caution.\r\n\r\n<strong> </strong>\r\n<ol start=\"5\">\r\n 	<li><strong> PREMIUM SERVICE SUBSCRIBER EXCLUSIVE CONTENT AREA:</strong></li>\r\n</ol>\r\n&nbsp;\r\n<ol start=\"6\">\r\n 	<li><strong> MY CLOSING THOUGHTS:</strong></li>\r\n</ol>\r\nThis is a busy week for Forex traders; time to get down to Costco and stock up on caffeine, or if you prefer the off-licence / liquor store for something a little stronger. I have a feeling us “dark side” traders will be quite “cream crackered” by next weekend.\r\n\r\nIn addition to the Economic data dump do NOT forget at any time some idiot politician looking for 30 seconds of fame could take aim on a media sound-byte and change the direction of any currency pair at the drop of a hat. We have plenty of BRITISH and EUROZONE politicians who love the media, plus the OPEC ministers love a good rumour so be aware and be careful. Already there are noises stating that neither IRAN or IRAQ will freeze output. I stated at the outset of this paperless agreement that in principle OPEC agreements are not policed nor do they mean squat when a push comes to a shove. OPEC is a non-event in my opinion especially as energy dependence diminishes in the Middle East as soon as they realize this then maybe things might progress in a greater business-like manner. Right now it\'s a shambolic collection of greedy feckers who have screwed with my disposable income for too damn long…. in my opinion of course!!\r\n\r\nPlus, we have an FBI investigation being opened into a Presidential candidate days before the vote in the biggest economy in the FREE WORLD. In the words of “THE DONALD” this is “HUGE”. This will play on the markets this week. WE have to be really careful, maybe be sidelined.\r\n\r\nI do NOT need to trade every day. I trade to make money in markets I understand. If I want to gamble in choppy markets I might as well go to Vegas and play roulette. I prefer to let trades come to me at my prices. I have a TRADE PLAN and I PLAN MY TRADES to my plan.\r\n\r\nDo not get suckered into believing the market is moving strongly in one direction. It can and does change in an instant. We are close to several range extremes, which increases volatility and the number of false moves.\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,\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: FREE NEWSLETTER\r\nDATE: 29<sup>th</sup> October 2016.','A “HUGE” WEEK FOR NEWS ON THE WAY…','','publish','open','closed','','huge-week-news-way','','','2016-10-29 15:26:27','2016-10-29 20:26:27','',0,'http://weeklyfxdrivethru.com/?p=8550',0,'post','',0),(8551,1,'2016-10-29 15:26:27','2016-10-29 20:26:27','<strong> </strong>\r\n<ol>\r\n 	<li><strong> INTRODUCTION:</strong></li>\r\n</ol>\r\nLast week was a relatively quiet week for economic data releases. Equities, and in particular the U.S. long bonds led the FX markets, plus the now customary mixture of BREXIT, OPEC (OIL), U.S. Presidential Election and sound-bytes from the EUROZONE.\r\n\r\nFrom a trading perspective, I was not very aggressive with trades, always trying to be selective and as choosy on entries as possible to maximize opportunities.\r\n\r\nI would like to share some great news, the PREMIUM SERVICE total pips for 2016 currently stands at 11,618 pips, which exceeds 2014 (11,209 pips) and 2015 (10,686 pips). There are still a few weeks left this year, therefore, the final pip total return could move higher or lower depending upon what happens going into the year end.\r\n\r\nAt the conclusion of every blog (this one as well), I always include a very short a paragraph about trading longevity (see below).\r\n<p style=\"text-align: center;\"><em><strong><span style=\"color: #3366ff;\">Always 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.</span></strong></em></p>\r\nLast week, I revised my POSITION SIZING guidelines for my trading based upon the various currency pairs available. This is a user guide for subscribers to see what sizes I am trading, based upon my RISK attached to each trade set up that I suggest.\r\n\r\nMy business strap line <strong><u>“The Home of Single-lot Trading”</u> </strong>is based upon my belief, and I have records to back this up is that regardless of how deep your pockets are, you can with RISK &amp; MONEY MANAGEMENT, TRADING DISCIPLINES and POSITION SIZING MANAGEMENT make a good cash return from trading Forex.\r\n\r\nThis is not like gambling in Vegas. You do not have to go all in. I consider trading more like a RISK MANAGEMENT process. It is also not about making big profits trade after trade, that would be great but sadly the world of trading is NOT like that. It is about the consistency of your performance and taking profits at the right time whatever size, adding to your account. Yes, there will be losses but these can be minimized. Like every trader I hate losses, but they are a pre-requisite of trading.\r\n\r\nI have never singled out a specific trade to review in this section of the blog before, but to amplify my point on trading small position sizes and being patient with trading I would like to demonstrate that good returns are possible.\r\n<p style=\"text-align: center;\">The trade parameters were as follows: -</p>\r\n<p style=\"text-align: center;\">POSITION TRADE\r\nREF#: POS 140\r\nUSD/SEK\r\nLONG\r\nENTRY at 8.8800\r\nSTOP 8.2800\r\nLIMIT 10.400</p>\r\n<p style=\"text-align: center;\">TRADE CLOSED AT 9.0200 – 26<sup>th</sup> October 2016\r\nMY POSITION SIZE - 10% = 3 MINI LOTS\r\nPROFIT FROM TRADE $465.60\r\nCOST TO TRADE $3.30\r\nRISK AT TRADE INCEPTION WAS c.$200.00</p>\r\n<p style=\"text-align: left;\">I put a protected stop in place as the pair spiked after a news event. It pulled back and my trade covered early.</p>\r\nMy point is where else can your RISK / RETURN be this good?\r\n\r\nWhilst my RISK at the outset of the trade was $200.00. My trade basically cost me $3.30 to make $465.60. Where else is your return this good? There are places, but this is instant cash if required and it all happened inside 4 hours.\r\n\r\nObviously there are traders who would trade larger POSITION SIZES than me and many who will trade smaller POSITION SIZES. Regardless of your wallet size we can ALL make $$$.\r\n\r\nHad you traded the lowest possible trade and matched my set up suggested 1 x micro lot with the above trade example: -\r\n<ul>\r\n 	<li>COST TO TRADE $0.11 cents</li>\r\n 	<li>TRADE INCEPTION RISK $6.60</li>\r\n 	<li>ACTUAL TRADE REWARD $15.52</li>\r\n</ul>\r\nThis is NOT a “blow my own horn” approach. There have been many better trades than this this year. I just wanted to show that you do NOT need to have a higher risk to enjoy a good return on your capital.\r\n\r\nThis particular trade is just fresh in my mind, as when I look at my “Tweet deck” page, I see a couple of tweets to me @ThePremServ from one very good trader and PREMIUM SERVICE subscriber who missed this trade and was kicking himself for doing so.\r\n\r\nAs I have said, probably 10-15 times in the past month or so, As Forex Traders, we are in a marathon not a 60 metre dash.\r\n\r\nMoving on…\r\n\r\nJust a quick reminder; each month, I am giving away a FREE PREMIUM SERVICE 4-week subscription. This gives the winner 100% access to the PREMIUM SERVICE website and ALL my PREMIUM SERVICE communications from my suggested trade set-ups to market commentaries and my thoughts.\r\n<p style=\"text-align: center;\">Next month’s (November 2016) FREE SUBSCRIPTION winner is: -</p>\r\n<p style=\"text-align: center;\"><a href=\"mailto:Davidc******@gmail.com\">Davidc******@gmail.com</a></p>\r\nBy the times this blog is posted, I expect David to be fully signed up with full access to the PREMIUM SERVICE.\r\n\r\nTo stand a chance of being the next subscription winner, you need to subscribe to receive this free blog via my website <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a><strong>  </strong>\r\n\r\nYou are automatically entered into a free monthly draw, once you’ve subscribed. Each month one lucky blog subscriber will receive a free subscription to the PREMIUM SERVICE.\r\n\r\n<strong> </strong>\r\n<ol start=\"2\">\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 the various trade styles plus 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 credit card.\r\n<p style=\"text-align: center;\"><u>PREMIUM SERVICE SUBSCRIPTION COSTS:</u></p>\r\n<p style=\"text-align: center;\">Details of features and benefits of a PREMIUM SERVICE subscription can be found on my website landing page at <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a> under the dropdown tab at the top of the page entitled HISTORY &amp; PERFORMANCE OF THE PREMIUM SERVICE. To subscribe follow the SUBSCRIBE HERE tab.</p>\r\n<p style=\"text-align: center;\">PREMIUM SERVICE subscription costs are as follows: -</p>\r\n<p style=\"text-align: center;\">CAD$240.00 - 4 weeks (1 month)\r\nCAD$500.00 - 10 weeks (3 months)\r\nCAD$750.00 - 20 weeks (6 months)\r\nCAD$1,250.00 - 40 weeks (12 months)\r\n<u>PLUS</u>: Existing PLATINUM MEMBERS (annual subscribers) can re-subscribe for a further 12 months for CAD$1,000.00\r\n\r\nI work for about 40 weeks a year. Subscriptions are based on 40 published blogs of the WEEKLY FX DRIVE THRU per year. For the remaining 10 weeks, I am around tweeting, posting and managing existing LIVE trades, although my market activity is reduced.</p>\r\n<p style=\"text-align: center;\"><u>PREMIUM SERVICE PERFORMANCE:</u></p>\r\n<p style=\"text-align: center;\">PRESENT AND HISTORICAL QUICK PREMIUM SERVICE STATS:</p>\r\n<p style=\"text-align: center;\">NET PIPS THIS MONTH SO FAR:            +2,633 pips\r\nNET PIPS 2016 TO DATE:              +11,618 pips</p>\r\n<p style=\"text-align: center;\">NET PIPS 2015:       +10,686 pips\r\nNET PIPS 2014:       +11,209 pips</p>\r\nBelow, for additional information on the past and current trading I include excel spreadsheets detailing the overviews of the PREMIUM SERVICE performance.\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/10/PREM-SERV-PROFITS-2014.png\"><img class=\"aligncenter size-full wp-image-8531\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/10/PREM-SERV-PROFITS-2014.png\" alt=\"prem-serv-profits-2014\" width=\"1022\" height=\"850\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/10/PREM-SERV-NET-2015.png\"><img class=\"aligncenter size-full wp-image-8532\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/10/PREM-SERV-NET-2015.png\" alt=\"prem-serv-net-2015\" width=\"1010\" height=\"872\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/10/PS-NET-PROFITS-2016.png\"><img class=\"aligncenter size-full wp-image-8533\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/10/PS-NET-PROFITS-2016.png\" alt=\"ps-net-profits-2016\" width=\"1010\" height=\"882\" /></a>\r\n\r\n&nbsp;\r\n\r\nIf you would like supporting data or detail about the performance and the tabs on my website landing page at <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a> do not answer your questions, contact me directly and I will supply the trading data you require. There are NO secrets. There are many, many spreadsheets detailing performance trade by trade and by trade and by trading style, way too many to place in this blog. If you are interested in the PREMIUM SERVICE and want more information, all you have to do is ask.\r\n\r\n<strong> </strong>\r\n<ol start=\"3\">\r\n 	<li><strong> LOOKING BACKWARDS: THE FX MARKET PLACE</strong></li>\r\n</ol>\r\n<strong>LAST WEEK’S FOREX and ECONOMIC NEWS – MY VIEWS:</strong>\r\n\r\nMARK CARNEY (BOE GOVERNOR’S TESTIMONY TO HOUSE OF LORDS):\r\n\r\nBasically my summary from Carney’s speech to the House of Lords committee was “Monetary Policy cannot do everything”. I think we heard something very similar very recently from Mario Draghi (ECB President).\r\n\r\nMy take is that he (Carney) can’t really do much now except wait. He did the initial support but now he needs to react to the politicians and to some meaningful economic statistics following the BREXIT vote. He will ignore knee jerk statistics to get a picture with a trend if possible and try to keep ahead of the curve.\r\n\r\nThat aside cable trades very heavy and within striking distance (GBP/USD) of breaking the recent 30+ years low of 1.2076. I still maintain its when rather than if we break this. The 1.2000 psychological number is appealing to the robots and big institutions. The weekly closing numbers with the GBP/USD must have the banks chartists frothing at the mouth with opportunities. At the same time there are always short covering rallies as there are always bottom pickers in the market. Eventually, one sound-byte from either a UK or EUROZONE politician probably based upon the Banking sector future of London being cast in doubt will send this cable crashing across the board.\r\n\r\nI just want the best entry level to short the GBP/USD, GBP/CHF and get long EUR/GBP. Although the CHF is a little off my RADAR at the moment given that I fear a TRUMP victory we could see a JPY and CHF flight to safety trade for a while.\r\n\r\nI digress…\r\n\r\nI think with Theresa May giving Parliament a chance to debate the BREXIT, this will stretch out the date for EUROPEAN UNION discussions and this gives the GBP/USD the chance to recover a little. This is my hope. I have a LIMIT ORDER in place ready at my target entry. The problem is every time cable looks like it’s moving up, it quickly gets swatted down again. There are always sellers ready to enter.\r\n\r\nCarney is on hold for the time being so it’s really up to the politicians to influence the cable price moving forward in my opinion.\r\n\r\n&nbsp;\r\n\r\nU.S. ADVANCE GDP:\r\n\r\nIf ever there was a data release to screw with your mind, and your belief of what was good news and what was bad news this was it.\r\n\r\n2.9% growth… almost 3%.\r\n\r\nI expected the USD to rally like crazy across the board. It never happened, the opposite really and then we had the now customary Friday chop fest as traders close / adjust / set their trades for the following week.\r\n\r\nOn Friday last week I was set up from a couple of days’ prior for the DXY to retrace lower from its elevated position. The fall in the DXY never really happened the way I thought it would as the USD remained well bid. My retracement trades were left in place and on Friday last week whilst they never really came close to triggering LIVE…the NZD/USD almost did, it came within 35 pips or so.\r\n\r\nThe upshot of all of this was that I went to the sidelines to avoid the choppy market and started on this blog post instead of trading!!\r\n\r\n&nbsp;\r\n<ol start=\"4\">\r\n 	<li><strong> LOOKING FORWARDS:</strong></li>\r\n</ol>\r\n<strong>THIS WEEK’S FOREX and ECONOMIC NEWS – MY VIEWS:</strong>\r\n\r\n<u>THIS WEEK’S FOREX NEWS THAT INTERESTS ME:</u>\r\n\r\n(There are many more news items related to the Forex Market other than the ones listed below. These are the ones that interest me. You can go to <a href=\"http://www.forexfactory.com\">www.forexfactory.com</a> and <a href=\"http://www.tradingeconomics.com\">www.tradingeconomics.com</a> for a more comprehensive lists of all news events that are Forex related).\r\n\r\nSUNDAY: N/A.\r\n\r\nMONDAY: CNY – Manufacturing PMi.\r\nMONDAY: AUD – RBA Rate Statement &amp; Interest Rate announcement.\r\nMONDAY: JPY – BOJ Press Conference and Interest Rate Statement.\r\n\r\nTUESDAY: GBP – Manufacturing PMi.\r\nTUESDAY: CAD – GDP.\r\nTUESDAY: NZD – GDT Dairy Auction Prices.\r\nTUESDAY: CAD – BOC Governor Poloz speaks.\r\nTUESDAY: NZD – Employment Rate / Jobs Report.\r\nTUESDAY: AUD – Building Approvals.\r\nTUESDAY: NZD – RBNZ Inflation Report.\r\n\r\nWEDNESDAY: GBP – Construction PMi.\r\nWEDNESDAY: USD – ADP Non-Farm Employment Numbers.\r\nWEDNESDAY: USD – FOMC statement and FED Funds Rate.\r\nWEDNESDAY: AUD – Trade Balance.\r\n\r\nTHURSDAY: GBP – Services PMi.\r\nTHURSDAY: GBP – BOE Inflation Report, Interest Rates &amp; Policy Statement.\r\nTHURSDAY: USD – ISM Non- Manufacturing PMi.\r\nTHURSDAY: AUD – RBA monetary Policy Statement.\r\nTHURSDAY: AUD – Retail Sales.\r\nTHURSDAY: CAD – BOC Governor Poloz speaks.\r\n\r\nFRIDAY: USD – Non-Farm Employment Data $ Unemployment Rate etc.\r\nFRIDAY: CAD – Employment Data &amp; Unemployment Rate.\r\n\r\nThere is an abundance of news items this week.\r\n\r\nThe big ones in my opinion that I will be very interested in are: -\r\n<ul>\r\n 	<li>S. Non-Farm Payrolls and the FOMC Statement.</li>\r\n 	<li>BOE Inflation Report.</li>\r\n 	<li>NZD Jobs report and Dairy Auction Prices.</li>\r\n 	<li>China PMi.</li>\r\n 	<li>Australian Monetary Policy, Interest Rate Statement and Trade Balance.</li>\r\n</ul>\r\nIt has been some time since the agenda has looked this busy.\r\n\r\nWe must also bear in mind that the BREXIT and U.S. presidential election will be over the news wires like a rash, plus we are now in the same month as the alleged proposed OPEC OIL production cut, this should also start to weigh in.\r\n\r\nAs “THE DONALD” would say it’s “HUGE’.\r\n\r\n<u> </u>\r\n\r\n<u>FOREX TRADING IN GENERAL TERMS THIS WEEK:</u>\r\n\r\nIt has been some time since the weekly data dump was this big, culminating with the U.S. jobs report at the end of the week.\r\n\r\nThose of you who know my approach should not and will probably not be surprised by the following statement, I think this week will be a day trade only environment probably until Friday when a longer-term trading perspective will hopefully be able to be taken.\r\n\r\nI am looking more at cross-rate pairs as we head towards the U.S. Presidential Election. My thought process for this is that should we see a surprise result with “THE DONALD” being victorious. I think that we will have major increased volatility for some time. I just don\'t need this nor do I want this factor hanging over several trades. That does not affect my views too much on my longer-term trades that are currently in place. Hence my thought process moving more to the cross-rate pairs. Having said that, with the volume of economic data due this week, the cross-rates could be scarier than I bargain for.\r\n\r\nWe all saw what happened with the markets last Friday with the FBI announcement over re-opening the case against HILLARY and her emails. The JPY and CHF tanked, the MXN leaped up like a salmon. Somebody hopefully dialed 911 (999) for HILLARY as I think that the fire department will be required to put out the fire from her knickers burning following her claims that all was OK.\r\n\r\nThe bottom line is that trading small and being nimble will be the general order of the day over the next couple of weeks.\r\n\r\nPREMIUM SERVICE subscribers please note, in section 5 I have noted my trade for the night of the Presidential vote.\r\n\r\n&nbsp;\r\n\r\n<u>THIS COMING WEEK - THE USD MAJORS (MY THOUGHTS): </u>\r\n\r\n(In this section I have as usual kept my charts as minimalist as possible. With regards to charting in my opinion less is more!! I hope that they are clear. All readers regardless of level of experience should be able to follow my thoughts from my comments to the levels on the charts with ease)\r\n\r\nMy comments are contained on the charts.\r\n\r\nEUR/USD - Weekly Closing Price: 1.0981\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/10/EURUSD-DAILY-29102016.png\"><img class=\"aligncenter size-large wp-image-8537\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/10/EURUSD-DAILY-29102016-1024x477.png\" alt=\"eurusd-daily-29102016\" width=\"1024\" height=\"477\" /></a>\r\n\r\nGBP/USD - Weekly Closing Price: 1.2185\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/10/GBPUSD-DAILY-29102016.png\"><img class=\"aligncenter size-large wp-image-8538\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/10/GBPUSD-DAILY-29102016-1024x477.png\" alt=\"gbpusd-daily-29102016\" width=\"1024\" height=\"477\" /></a>\r\n\r\nAUD/USD - Weekly Closing Price: 0.7494\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/10/AUDUSD-DAILY-29102016.png\"><img class=\"aligncenter size-large wp-image-8536\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/10/AUDUSD-DAILY-29102016-1024x477.png\" alt=\"audusd-daily-29102016\" width=\"1024\" height=\"477\" /></a>\r\n\r\nNZD/USD - Weekly Closing Price: 0.7165\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/10/NZDUSD-DAILY-29102016.png\"><img class=\"aligncenter size-large wp-image-8539\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/10/NZDUSD-DAILY-29102016-1024x477.png\" alt=\"nzdusd-daily-29102016\" width=\"1024\" height=\"477\" /></a>\r\n\r\nUSD/CAD - Weekly Closing Price: 1.3391\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/10/USDCAD-DAILY-29102016.png\"><img class=\"aligncenter size-large wp-image-8540\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/10/USDCAD-DAILY-29102016-1024x477.png\" alt=\"usdcad-daily-29102016\" width=\"1024\" height=\"477\" /></a>\r\n\r\nUSD/CHF - Weekly Closing Price: 0.9874\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/10/USDCHF-DAILY-29102016.png\"><img class=\"aligncenter size-large wp-image-8541\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/10/USDCHF-DAILY-29102016-1024x477.png\" alt=\"usdchf-daily-29102016\" width=\"1024\" height=\"477\" /></a>\r\n\r\nUSD/JPY - Weekly Closing Price: 104.66\r\n\r\n<u><a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/10/USDJPY-DAILY-29102016.png\"><img class=\"aligncenter size-large wp-image-8542\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/10/USDJPY-DAILY-29102016-1024x477.png\" alt=\"usdjpy-daily-29102016\" width=\"1024\" height=\"477\" /></a></u>\r\n\r\n<u> </u>\r\n\r\n<u>THIS COMING WEEK - THE NON-USD MAJORS PAIRS (MY THOUGHTS):</u>\r\n\r\nI don’t want to give away too much in this section as this overlaps with commentary that PREMIUM SERVICE SUBSCRIBERS receive in section 5.\r\n\r\nI am maintaining positions with the EUR/CHF and AUD/NZD, in fact I added two more live trades to my trading position with the AUD/NZD and a further LIMIT ORDER is in place as well.\r\n\r\nMy overall longer-term view regarding the New Zealand economy has not changed and for the foreseeable future I have no problems adding to my bearish views through all NZD trading pairs except the GBP/NZD for BREXIT reasons.\r\n\r\nOther non USD majors that are on my RADAR are: -\r\n\r\nJPY and CHF pairs. I am being a little cautious with my near-term outlook with regards to these pairs given the U.S. election outcome. If we saw “THE DONALD” victorious I am of the opinion that we could see a flight to safety trade appear and the usual suspects of the JPY and CHF could be targeted. The FBI investigation into HILLARY’s emails could lead us down a path we were not expecting to follow.\r\n\r\nLonger-term I want to sell JPY and CHF currencies (i.e. Long USD/JPY &amp; USD/CHF). I just think that until the U.S. election is out of the way we have to exercise some caution.\r\n\r\n<strong> </strong>\r\n<ol start=\"5\">\r\n 	<li><strong> PREMIUM SERVICE SUBSCRIBER EXCLUSIVE CONTENT AREA:</strong></li>\r\n</ol>\r\n&nbsp;\r\n<ol start=\"6\">\r\n 	<li><strong> MY CLOSING THOUGHTS:</strong></li>\r\n</ol>\r\nThis is a busy week for Forex traders; time to get down to Costco and stock up on caffeine, or if you prefer the off-licence / liquor store for something a little stronger. I have a feeling us “dark side” traders will be quite “cream crackered” by next weekend.\r\n\r\nIn addition to the Economic data dump do NOT forget at any time some idiot politician looking for 30 seconds of fame could take aim on a media sound-byte and change the direction of any currency pair at the drop of a hat. We have plenty of BRITISH and EUROZONE politicians who love the media, plus the OPEC ministers love a good rumour so be aware and be careful. Already there are noises stating that neither IRAN or IRAQ will freeze output. I stated at the outset of this paperless agreement that in principle OPEC agreements are not policed nor do they mean squat when a push comes to a shove. OPEC is a non-event in my opinion especially as energy dependence diminishes in the Middle East as soon as they realize this then maybe things might progress in a greater business-like manner. Right now it\'s a shambolic collection of greedy feckers who have screwed with my disposable income for too damn long…. in my opinion of course!!\r\n\r\nPlus, we have an FBI investigation being opened into a Presidential candidate days before the vote in the biggest economy in the FREE WORLD. In the words of “THE DONALD” this is “HUGE”. This will play on the markets this week. WE have to be really careful, maybe be sidelined.\r\n\r\nI do NOT need to trade every day. I trade to make money in markets I understand. If I want to gamble in choppy markets I might as well go to Vegas and play roulette. I prefer to let trades come to me at my prices. I have a TRADE PLAN and I PLAN MY TRADES to my plan.\r\n\r\nDo not get suckered into believing the market is moving strongly in one direction. It can and does change in an instant. We are close to several range extremes, which increases volatility and the number of false moves.\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,\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: FREE NEWSLETTER\r\nDATE: 29<sup>th</sup> October 2016.','A “HUGE” WEEK FOR NEWS ON THE WAY…','','inherit','closed','closed','','8550-revision-v1','','','2016-10-29 15:26:27','2016-10-29 20:26:27','',8550,'http://weeklyfxdrivethru.com/8550-revision-v1/',0,'revision','',0),(8552,1,'2016-10-31 12:53:02','2016-10-31 17:53:02','','prem-serv-profits1-oct16','','inherit','open','closed','','prem-serv-profits1-oct16','','','2016-10-31 13:25:52','2016-10-31 18:25:52','',5000,'http://weeklyfxdrivethru.com/wp-content/uploads/2016/10/PREM-SERV-PROFITS1-OCT16.png',0,'attachment','image/png',0),(8553,1,'2016-10-31 12:53:14','2016-10-31 17:53:14','','prem-serv-profits2-oct16','','inherit','open','closed','','prem-serv-profits2-oct16','','','2016-10-31 13:02:03','2016-10-31 18:02:03','',3012,'http://weeklyfxdrivethru.com/wp-content/uploads/2016/10/PREM-SERV-PROFITS2-OCT16.png',0,'attachment','image/png',0),(8554,1,'2016-10-31 12:53:16','2016-10-31 17:53:16','','radar-oct16','','inherit','open','closed','','radar-oct16','','','2016-10-31 13:21:26','2016-10-31 18:21:26','',2524,'http://weeklyfxdrivethru.com/wp-content/uploads/2016/10/RADAR-OCT16.png',0,'attachment','image/png',0),(8555,1,'2016-10-31 12:53:19','2016-10-31 17:53:19','','radar-ytd-oct16','','inherit','open','closed','','radar-ytd-oct16','','','2016-10-31 13:21:44','2016-10-31 18:21:44','',2524,'http://weeklyfxdrivethru.com/wp-content/uploads/2016/10/RADAR-YTD-OCT16.png',0,'attachment','image/png',0),(8556,1,'2016-10-31 12:53:23','2016-10-31 17:53:23','','flash-oct16','','inherit','open','closed','','flash-oct16','','','2016-10-31 13:20:03','2016-10-31 18:20:03','',2711,'http://weeklyfxdrivethru.com/wp-content/uploads/2016/10/FLASH-OCT16.png',0,'attachment','image/png',0),(8557,1,'2016-10-31 12:53:26','2016-10-31 17:53:26','','flash-ytd-oct16','','inherit','open','closed','','flash-ytd-oct16','','','2016-10-31 13:20:27','2016-10-31 18:20:27','',2711,'http://weeklyfxdrivethru.com/wp-content/uploads/2016/10/FLASH-YTD-OCT16.png',0,'attachment','image/png',0),(8558,1,'2016-10-31 12:53:32','2016-10-31 17:53:32','','fun1-oct16','','inherit','open','closed','','fun1-oct16','','','2016-10-31 13:22:34','2016-10-31 18:22:34','',3106,'http://weeklyfxdrivethru.com/wp-content/uploads/2016/10/FUN1-OCT16.png',0,'attachment','image/png',0),(8559,1,'2016-10-31 12:53:35','2016-10-31 17:53:35','','fun2-oct16','','inherit','open','closed','','fun2-oct16','','','2016-10-31 13:22:39','2016-10-31 18:22:39','',3106,'http://weeklyfxdrivethru.com/wp-content/uploads/2016/10/FUN2-OCT16.png',0,'attachment','image/png',0),(8560,1,'2016-10-31 12:53:37','2016-10-31 17:53:37','','fun3-oct16','','inherit','open','closed','','fun3-oct16','','','2016-10-31 13:22:48','2016-10-31 18:22:48','',3106,'http://weeklyfxdrivethru.com/wp-content/uploads/2016/10/FUN3-OCT16.png',0,'attachment','image/png',0),(8561,1,'2016-10-31 12:53:40','2016-10-31 17:53:40','','fun-ytd-oct16','','inherit','open','closed','','fun-ytd-oct16','','','2016-10-31 13:23:21','2016-10-31 18:23:21','',3106,'http://weeklyfxdrivethru.com/wp-content/uploads/2016/10/FUN-YTD-OCT16.png',0,'attachment','image/png',0),(8562,1,'2016-10-31 12:53:42','2016-10-31 17:53:42','','pos-oct16','','inherit','open','closed','','pos-oct16','','','2016-10-31 13:24:23','2016-10-31 18:24:23','',6965,'http://weeklyfxdrivethru.com/wp-content/uploads/2016/10/POS-OCT16.png',0,'attachment','image/png',0),(8563,1,'2016-10-31 12:53:45','2016-10-31 17:53:45','','pos2-oct16','','inherit','open','closed','','pos2-oct16','','','2016-10-31 13:24:31','2016-10-31 18:24:31','',6965,'http://weeklyfxdrivethru.com/wp-content/uploads/2016/10/POS2-OCT16.png',0,'attachment','image/png',0),(8564,1,'2016-10-31 12:53:49','2016-10-31 17:53:49','','pos-ytd-oct16','','inherit','open','closed','','pos-ytd-oct16','','','2016-10-31 13:24:44','2016-10-31 18:24:44','',6965,'http://weeklyfxdrivethru.com/wp-content/uploads/2016/10/POS-YTD-OCT16.png',0,'attachment','image/png',0),(8565,1,'2016-10-31 12:53:54','2016-10-31 17:53:54','','pips-yr-on-yr-ytd-oct16','','inherit','open','closed','','pips-yr-on-yr-ytd-oct16','','','2016-10-31 13:02:37','2016-10-31 18:02:37','',3012,'http://weeklyfxdrivethru.com/wp-content/uploads/2016/10/PIPS-YR-ON-YR-YTD-OCT16.png',0,'attachment','image/png',0),(8566,1,'2016-10-31 12:54:02','2016-10-31 17:54:02','','cons-perf-oct16','','inherit','open','closed','','cons-perf-oct16','','','2016-10-31 13:02:17','2016-10-31 18:02:17','',3012,'http://weeklyfxdrivethru.com/wp-content/uploads/2016/10/CONS-PERF-OCT16.png',0,'attachment','image/png',0),(8567,1,'2016-10-31 13:00:28','2016-10-31 18:00:28','','prem-serv-net-profits-ytd-oct16','','inherit','open','closed','','prem-serv-net-profits-ytd-oct16','','','2016-10-31 13:02:49','2016-10-31 18:02:49','',3012,'http://weeklyfxdrivethru.com/wp-content/uploads/2016/10/PREM-SERV-NET-PROFITS-YTD-OCT16.png',0,'attachment','image/png',0),(8936,1,'2017-01-13 17:01:54','2017-01-13 22:01:54','','LIVE TRADES 15012017','','inherit','open','closed','','live-trades-15012017','','','2017-01-14 12:06:35','2017-01-14 17:06:35','',8944,'http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/LIVE-TRADES-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),(9116,1,'2017-02-15 08:10:04','2017-02-15 13:10:04','&nbsp;\r\n\r\n<strong>LIVE WEBINARS:</strong>\r\n\r\n&nbsp;\r\n\r\nEach Monday at 5:30PM EST, I will host a 30 minute LIVE WEBINAR... <strong>\"THE WEEKLY FX DRIVE THRU - LIVE\"</strong>\r\n\r\nThe link for the webinar is: -  <a href=\"http://bit.ly/drivethru-live\">http://bit.ly/drivethru-live</a>   (You can register at any time)\r\n\r\n<span style=\"text-decoration: underline;\">PLEASE NOTE</span>: - For a short time the webinar can only be viewed by using the \"Google Chrome\" browser and does not support either smartphones or tablets.\r\n\r\nIn addition, the completed webinar will be uploaded to my \"YOU TUBE\" channel (Weekly Fx Drive Thru). You can watch via \"YOU TUBE\" or subscribe to my \"YOU TUBE\" channel and to receive the webinar direct to your inbox after it has been uploaded. The link to connect to my \"YOU TUBE\" channel is below: -\r\n\r\nhttps://www.youtube.com/channel/UCV-9VDnNkHjTPBzKqLqCGJw\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n<strong> PRESENTATIONS and SEMINARS</strong>:\r\n\r\nJust prior to the summer of 2016, I completed a three week tour of the UK and IRELAND presenting AN INTRODUCTION TO FOREX TRADING with THE PREMIUM SERVICE. I would like to thank those of you who came along to make the presentations worthwhile.\r\n\r\nIt was my intention to repeat these presentations in 2017 in different parts of the UK. However, several key events for 2017 have already been inked into my schedule and it now impossible to fit in a series of presentations into my calendar.\r\n\r\nIt now looks as though early 2018 will be the first opportunity that I will have to travel and present.\r\n\r\nScott Pickering\r\nThe Pip Accumulator\r\n17th January 2017','UPCOMING LIVE EVENTS (SEMINARS / TRAINING)','','inherit','closed','closed','','4239-revision-v1','','','2017-02-15 08:10:04','2017-02-15 13:10:04','',4239,'http://weeklyfxdrivethru.com/4239-revision-v1/',0,'revision','',0),(9117,1,'2017-02-15 08:11:09','2017-02-15 13:11:09','&nbsp;\r\n\r\n<strong>LIVE WEBINARS:</strong>\r\n\r\n&nbsp;\r\n\r\nEach Monday at 5:30PM EST, I will host a 30 minute LIVE WEBINAR... <strong>\"THE WEEKLY FX DRIVE THRU - LIVE\"</strong>\r\n\r\nThe link for the webinar is: -  <a href=\"http://bit.ly/drivethru-live\">http://bit.ly/drivethru-live</a>   (You can register at any time)\r\n\r\n<span style=\"text-decoration: underline;\">PLEASE NOTE</span>: - For a short time the webinar can only be viewed by using the \"Google Chrome\" browser and does not support either smartphones or tablets.\r\n\r\nIn addition, the completed webinar will be uploaded to my \"YOU TUBE\" channel (Weekly Fx Drive Thru). You can watch via \"YOU TUBE\" or subscribe to my \"YOU TUBE\" channel and to receive the webinar direct to your inbox after it has been uploaded. The link to connect to my \"YOU TUBE\" channel is below: -\r\n\r\n<a href=\"https://www.youtube.com/channel/UCV-9VDnNkHjTPBzKqLqCGJw\">https://www.youtube.com/channel/UCV-9VDnNkHjTPBzKqLqCGJw</a>\r\n\r\n&nbsp;\r\n\r\n<strong>PRESENTATIONS and SEMINARS</strong>:\r\n\r\nJust prior to the summer of 2016, I completed a three week tour of the UK and IRELAND presenting AN INTRODUCTION TO FOREX TRADING with THE PREMIUM SERVICE. I would like to thank those of you who came along to make the presentations worthwhile.\r\n\r\nIt was my intention to repeat these presentations in 2017 in different parts of the UK. However, several key events for 2017 have already been inked into my schedule and it now impossible to fit in a series of presentations into my calendar.\r\n\r\nIt now looks as though early 2018 will be the first opportunity that I will have to travel and present.\r\n\r\nScott Pickering\r\nThe Pip Accumulator\r\n17th January 2017','UPCOMING LIVE EVENTS (SEMINARS / TRAINING)','','inherit','closed','closed','','4239-revision-v1','','','2017-02-15 08:11:09','2017-02-15 13:11:09','',4239,'http://weeklyfxdrivethru.com/4239-revision-v1/',0,'revision','',0),(9010,1,'2017-01-28 05:59:18','2017-01-28 10:59:18','','LIVE1 28012017','','inherit','open','closed','','live1-28012017','','','2017-01-28 10:40:42','2017-01-28 15:40:42','',9033,'http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/LIVE1-28012017.png',0,'attachment','image/png',0),(9011,1,'2017-01-28 05:59:28','2017-01-28 10:59:28','','LIVE2 28012017','','inherit','open','closed','','live2-28012017','','','2017-01-28 10:40:56','2017-01-28 15:40:56','',9033,'http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/LIVE2-28012017.png',0,'attachment','image/png',0),(9012,1,'2017-01-28 06:01:21','2017-01-28 11:01:21','','AUDUSD D 28012017','','inherit','open','closed','','audusd-d-28012017','','','2017-01-28 10:38:44','2017-01-28 15:38:44','',9033,'http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/AUDUSD-D-28012017.png',0,'attachment','image/png',0),(9013,1,'2017-01-28 06:01:32','2017-01-28 11:01:32','','EURUSD D 28012017','','inherit','open','closed','','eurusd-d-28012017','','','2017-01-28 10:38:19','2017-01-28 15:38:19','',9033,'http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/EURUSD-D-28012017.png',0,'attachment','image/png',0),(9014,1,'2017-01-28 06:01:43','2017-01-28 11:01:43','','GBPUSD D 28012017','','inherit','open','closed','','gbpusd-d-28012017','','','2017-01-28 10:38:33','2017-01-28 15:38:33','',9033,'http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/GBPUSD-D-28012017.png',0,'attachment','image/png',0),(9015,1,'2017-01-28 06:01:55','2017-01-28 11:01:55','','NZDUSD D 28012017','','inherit','open','closed','','nzdusd-d-28012017','','','2017-01-28 10:38:57','2017-01-28 15:38:57','',9033,'http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/NZDUSD-D-28012017.png',0,'attachment','image/png',0),(9016,1,'2017-01-28 06:02:06','2017-01-28 11:02:06','','USDCAD D 28012017','','inherit','open','closed','','usdcad-d-28012017','','','2017-01-28 10:39:08','2017-01-28 15:39:08','',9033,'http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/USDCAD-D-28012017.png',0,'attachment','image/png',0),(9017,1,'2017-01-28 06:02:16','2017-01-28 11:02:16','','USDCHF D 28012017','','inherit','open','closed','','usdchf-d-28012017','','','2017-01-28 10:39:26','2017-01-28 15:39:26','',9033,'http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/USDCHF-D-28012017.png',0,'attachment','image/png',0),(9018,1,'2017-01-28 06:02:26','2017-01-28 11:02:26','','USDJPY 28012017','','inherit','open','closed','','usdjpy-28012017','','','2017-01-28 10:39:37','2017-01-28 15:39:37','',9033,'http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/USDJPY-28012017.png',0,'attachment','image/png',0),(9019,1,'2017-01-28 06:02:41','2017-01-28 11:02:41','','COPPER 28012017','','inherit','open','closed','','copper-28012017','','','2017-01-28 10:44:03','2017-01-28 15:44:03','',9033,'http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/COPPER-28012017.png',0,'attachment','image/png',0),(9020,1,'2017-01-28 06:02:52','2017-01-28 11:02:52','','DXY 28012017','','inherit','open','closed','','dxy-28012017','','','2017-01-28 10:42:51','2017-01-28 15:42:51','',9033,'http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/DXY-28012017.png',0,'attachment','image/png',0),(9021,1,'2017-01-28 06:03:01','2017-01-28 11:03:01','','Wti 28012017','','inherit','open','closed','','wti-28012017','','','2017-01-28 10:43:40','2017-01-28 15:43:40','',9033,'http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/Wti-28012017.png',0,'attachment','image/png',0),(9022,1,'2017-01-28 06:03:14','2017-01-28 11:03:14','','SCOTTS SOAPBOX CHART AUDUSD D 28012017','','inherit','open','closed','','scotts-soapbox-chart-audusd-d-28012017','','','2017-01-28 10:45:28','2017-01-28 15:45:28','',9033,'http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/SCOTTS-SOAPBOX-CHART-AUDUSD-D-28012017.png',0,'attachment','image/png',0),(9023,1,'2017-01-28 06:03:24','2017-01-28 11:03:24','','SCOTTS SOAPBOX CHART GOLD D 28012017','','inherit','open','closed','','scotts-soapbox-chart-gold-d-28012017','','','2017-01-28 10:43:18','2017-01-28 15:43:18','',9033,'http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/SCOTTS-SOAPBOX-CHART-GOLD-D-28012017.png',0,'attachment','image/png',0),(9024,1,'2017-01-28 06:03:33','2017-01-28 11:03:33','','SCOTTS SOAPBOX CHART USDCAD D 28012017','','inherit','open','closed','','scotts-soapbox-chart-usdcad-d-28012017','','','2017-01-28 10:44:58','2017-01-28 15:44:58','',9033,'http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/SCOTTS-SOAPBOX-CHART-USDCAD-D-28012017.png',0,'attachment','image/png',0),(9025,1,'2017-01-28 06:03:44','2017-01-28 11:03:44','','SCOTTS SOAPBOX CHART USDSEK D 28012017','','inherit','open','closed','','scotts-soapbox-chart-usdsek-d-28012017','','','2017-01-28 10:44:33','2017-01-28 15:44:33','',9033,'http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/SCOTTS-SOAPBOX-CHART-USDSEK-D-28012017.png',0,'attachment','image/png',0),(9026,1,'2017-01-28 06:17:31','2017-01-28 11:17:31','','NOTICEBOARD 28012017','','inherit','open','closed','','noticeboard-28012017','','','2017-01-28 06:18:40','2017-01-28 11:18:40','',8921,'http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/NOTICEBOARD-28012017.png',0,'attachment','image/png',0),(9027,1,'2017-01-28 06:19:17','2017-01-28 11:19:17','&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<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','','','2017-01-28 06:19:17','2017-01-28 11:19:17','',8921,'http://weeklyfxdrivethru.com/8921-revision-v1/',0,'revision','',0),(8724,1,'2016-11-30 09:54:47','2016-11-30 14:54:47','<section class=\"one-sixth first\">\r\n<h4>RISK/REWARD ANALYSIS:</h4>\r\n</section><section class=\"five-sixths\">\r\n<div class=\"one-half first\">\r\n<h2>This Year\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/10/CONS-PERF-OCT16.png\"><img class=\"aligncenter size-large wp-image-8566\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/10/CONS-PERF-OCT16-848x1024.png\" alt=\"cons-perf-oct16\" width=\"848\" height=\"1024\" /></a>\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/09/CONSOLIDATED-PERF-SET2016.png\"><img class=\"aligncenter size-large wp-image-8389\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/09/CONSOLIDATED-PERF-SET2016-838x1024.png\" alt=\"consolidated-perf-set2016\" width=\"838\" height=\"1024\" /></a>\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/08/PERF-ANALYSIS-AUG2016.png\"><img class=\"aligncenter size-full wp-image-8292\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/08/PERF-ANALYSIS-AUG2016.png\" alt=\"PERF ANALYSIS AUG2016\" width=\"547\" height=\"619\" /></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</div>\r\n<div class=\"one-half\">\r\n<h2>PREVIOUS YEARS\r\n<a href=\"https://weeklyfxdrivethru.com/completed-trades-risk-reward-analysis/ps-risk-reward-31122015/\" rel=\"attachment wp-att-7054\"><img class=\"aligncenter wp-image-7054\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/12/PS-RISK-REWARD-31122015.png\" alt=\"PS RISK REWARD 31122015\" width=\"645\" height=\"796\" /></a>\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/12/PREM-SERV-RISK-REWARD-31122014-YTD.png\"><img class=\"aligncenter wp-image-4964\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/12/PREM-SERV-RISK-REWARD-31122014-YTD.png\" alt=\"PREM SERV RISK-REWARD 31122014 YTD\" width=\"645\" height=\"804\" /></a></h2>\r\n</div>\r\n</section>','RISK/REWARD ANALYSIS','','inherit','closed','closed','','5006-revision-v1','','','2016-11-30 09:54:47','2016-11-30 14:54:47','',5006,'http://weeklyfxdrivethru.com/5006-revision-v1/',0,'revision','',0),(8578,1,'2016-10-31 13:33:21','2016-10-31 18:33:21','<section class=\"one-sixth first\">\r\n<h4>Completed Consolidated Performance Analysis Archives\r\n(Previously RISK/REWARD analysis):</h4>\r\n</section><section class=\"five-sixths\">\r\n<div class=\"one-half first\">\r\n<h2>This Year\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/10/CONS-PERF-OCT16.png\"><img class=\"aligncenter size-large wp-image-8566\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/10/CONS-PERF-OCT16-848x1024.png\" alt=\"cons-perf-oct16\" width=\"848\" height=\"1024\" /></a>\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/09/CONSOLIDATED-PERF-SET2016.png\"><img class=\"aligncenter size-large wp-image-8389\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/09/CONSOLIDATED-PERF-SET2016-838x1024.png\" alt=\"consolidated-perf-set2016\" width=\"838\" height=\"1024\" /></a>\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/08/PERF-ANALYSIS-AUG2016.png\"><img class=\"aligncenter size-full wp-image-8292\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/08/PERF-ANALYSIS-AUG2016.png\" alt=\"PERF ANALYSIS AUG2016\" width=\"547\" height=\"619\" /></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</div>\r\n<div class=\"one-half\">\r\n<h2>PREVIOUS YEARS\r\n<a href=\"https://weeklyfxdrivethru.com/completed-trades-risk-reward-analysis/ps-risk-reward-31122015/\" rel=\"attachment wp-att-7054\"><img class=\"aligncenter wp-image-7054\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/12/PS-RISK-REWARD-31122015.png\" alt=\"PS RISK REWARD 31122015\" width=\"645\" height=\"796\" /></a>\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/12/PREM-SERV-RISK-REWARD-31122014-YTD.png\"><img class=\"aligncenter wp-image-4964\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/12/PREM-SERV-RISK-REWARD-31122014-YTD.png\" alt=\"PREM SERV RISK-REWARD 31122014 YTD\" width=\"645\" height=\"804\" /></a></h2>\r\n</div>\r\n</section>','CONSOLIDATED PERFORMANCE ANALYSIS (PREVIOUSLY RISK/REWARD ANALYSIS)','','inherit','closed','closed','','5006-revision-v1','','','2016-10-31 13:33:21','2016-10-31 18:33:21','',5006,'http://weeklyfxdrivethru.com/5006-revision-v1/',0,'revision','',0),(8579,1,'2016-10-31 13:34:06','2016-10-31 18:34:06','<section class=\"one-sixth first\">\r\n<h4>PIP PERFORMANCE YEAR BY YEAR Archives:</h4>\r\n</section><section class=\"five-sixths\">\r\n<div>\r\n<h2>2016 v 2015\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/10/PIPS-YR-ON-YR-YTD-OCT16.png\"><img class=\"aligncenter size-large wp-image-8565\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/10/PIPS-YR-ON-YR-YTD-OCT16-1024x628.png\" alt=\"pips-yr-on-yr-ytd-oct16\" width=\"1024\" height=\"628\" /></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</div>\r\n<div>\r\n<h2>2015 v 2014</h2>\r\n<img class=\"aligncenter wp-image-6992\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/12/PIP-COMP-2015-v-2014-COMP.png\" alt=\"PIP COMP 2015 v 2014 COMP\" width=\"1059\" />\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n</div>\r\n</section>','PIP PERFORMANCE YEAR by YEAR COMPARISONS','','inherit','closed','closed','','6869-revision-v1','','','2016-10-31 13:34:06','2016-10-31 18:34:06','',6869,'http://weeklyfxdrivethru.com/6869-revision-v1/',0,'revision','',0),(8580,1,'2016-10-31 13:58:03','2016-10-31 18:58:03','','position-trades-q3-2016-perf','','inherit','open','closed','','position-trades-q3-2016-perf','','','2016-10-31 14:03:01','2016-10-31 19:03:01','',6858,'http://weeklyfxdrivethru.com/wp-content/uploads/2016/10/POSITION-TRADES-Q3-2016-PERF-.png',0,'attachment','image/png',0),(8581,1,'2016-10-31 14:26:05','2016-10-31 19:26:05','<h4 style=\"text-align: center;\"><strong> </strong></h4>\r\n<h4 style=\"text-align: center;\"><strong>ARE YOU ALREADY, OR, ARE YOU THINKING ABOUT BEING A PART-TIME FOREX TRADER?\r\n</strong><strong>ARE YOU STRUGGLING TO ACHIEVE YOUR FINANCIAL GOALS?</strong></h4>\r\nAt the beginning of 2016 I launched PART-TIME TRADER TRADES and renamed them during 2016 to become POSITION TRADES.\r\n\r\nI set aggressive targets of more than doubling the size of your broker accounts in a structured way this year.  Below you will see my original post with my income projection table in BLACK. At the end of Q1 I reviewed the performance and added my to date table in BLUE. At the end of Q2 I posted again and updated the real time table this time in GREEN.\r\n\r\nNow we are at the end of October and I have updated the year performance once again, this time it\'s PURPLE.\r\n\r\nMany of my competitors who offer a PREMIUM SUBSCRIPTION service that like myself provides  a level of market commentary, promise the earth with their mentoring styles. I have NOT found any competitors who publish an annual pip objective or review performance against objectives that were set out.\r\n\r\nAs I keep telling my subscribers, what you see is what you get.\r\n\r\nMy POSITION TRADE profit objective was aggressive. To be this close given all the geopolitical events in 2016, frankly, I am absolutely delighted.\r\n\r\nPlease see that chart below to see the current position as at 31st October 2016, based upon the target set out on January 1st 2016. Beyond this current chart I have left all of my prior posts and updates from the original one in place for you to see the progress through the year.\r\n\r\n&nbsp;\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/10/POSITION-TRADES-Q3-2016-PERF-.png\"><img class=\"aligncenter size-large wp-image-8580\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/10/POSITION-TRADES-Q3-2016-PERF--1024x794.png\" alt=\"position-trades-q3-2016-perf\" width=\"1024\" height=\"794\" /></a>\r\n\r\n&nbsp;\r\n\r\nScott Pickering\r\nThe Pip Accumulator\r\n31st October 2016\r\n\r\n&nbsp;\r\n\r\n<strong><span style=\"text-decoration: underline;\">THE FOLLOWING POST WAS ADDED ON JULY 11th 2016:</span></strong>\r\n\r\nI updated my 2016 spreadsheet and performance with regards to POSITION (PART-TIME TRADER TRADES) at the end of Q1.  At that time, I left on this page the original post to this drop down menu so that it was clear to see the existing performance versus the initial projection.\r\n\r\nIt now the end of Q2 and have decided to do the same again. At the end of this update dated 11th July 2016 reflecting upon Q2 2016 performance, you will find my March 31st post reflecting on the Q1 performance and then my original post when I decided to launch PART TIME TRADER TRADES now called POSITION TRADES in December 2015.\r\n\r\nMy initial comments on the performance to date are as follows (see the excel spreadsheet below):\r\n<ol>\r\n 	<li>Never be upset at making money when trading.</li>\r\n 	<li>I knew that I was having to continually adjust to market conditions. I had blogged continually this year about uncertainty and lots of chop in the markets making normal trading very difficult at times. This \"Chop\" has manifested itself in the way that my POSITION TRADES have played out.</li>\r\n 	<li>I have completed 88 trades already from a projected 90 trades for the whole year.</li>\r\n 	<li>Profit loss ratios on completed trades are at 86%-14% well ahead of my projected 75%-25% projection.</li>\r\n 	<li> 5,106 pips have been achieved against the annual target of 8,438, which equates to 60% of my annual goal after 50% of year is complete. To achieve my ambitious 2016 objective will be a tall order but I am up for the challenge.<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/07/POS-TRADES-Q2-actual-v-proj-11072016.png\"><img class=\"aligncenter size-full wp-image-8138\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/07/POS-TRADES-Q2-actual-v-proj-11072016.png\" alt=\"POS TRADES Q2 actual-v-proj 11072016\" width=\"606\" height=\"437\" /></a></li>\r\n</ol>\r\nAs I have said all along with my trading it is vital to trade what you are presented with. Longer-term trading whilst the \"day to day noise\" can be excluded from the process of placing a trade it still has its own difficulties that have been clear to see as more and more uncertainties have entered the marketplace.\r\n\r\nWe now enter Q3 the silly season when liquidity is much lower and the Asian market sessions become more and more of a nonsense as the liquidity really dries up even more into an illiquid session at the best of times. There is still huge uncertainty hanging over the markets in particular surrounding the BREXIT fallout but also the US Presidential Election is approaching really fast. Trading patterns/ levels will be harder in this environment.\r\n\r\nIn three months, I will post a Q3 follow up.\r\n\r\nScott Pickering\r\nThe Pip Accumulator\r\nJuly 11th 2016\r\nwww.weeklyfxdrivethru.com/disclaimer/\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\"><strong>BELOW IS THE Q1 REVIEW THAT WAS PUBLISHED ON MARCH 31st 2016:</strong></span>\r\n\r\nWe are almost three months into 2016 trading and I thought that it would be a great idea to review the performance of my new trading category, that was launched in January this year; PART-TIME TRADER TRADES.\r\n\r\nBefore getting into the “nitty gritty” of projected numbers versus actual performance, I thought I should offer an overview to date.\r\n\r\nThis year trading has not been as clear-cut as I had hoped for. The divergent trade, which frankly launched this idea of the new trade set-up category, has not been as visible as I had hoped. In fact, there have been clear examples of central bank policy direction being ignored (BOJ and ECB). Coupled with some major geopolitical uncertainties, I have not had the confidence to let trades run as I had originally intended and I have cut trades short, mostly at the time they were profitable to bank $$$.\r\n\r\nMoving forward, I do see the divergent trade re-appearing because frankly, nothing has fundamentally changed. The FED is still progressing with monetary policy, that is, raising rates when the two other large central banks the ECB and BOJ are still easing with monetary policy through a long term quantitative easing program. From this perspective nothing has changed.\r\n\r\nHowever, one thing that I do want to change is the name given to these suggested trade set-ups moving forward. From April 4<sup>th</sup> 2016 they were renamed as POSITION TRADES and no longer PART-TIME TRADER TRADES. They will now carry the prefix POS as suggested set-ups are posted to subscribers of the PREMIUM SERVICE.\r\n\r\nBelow is the PROJECTED PERFORMANCE versus the ACTUAL for Q1 2016. I have added a short commentary / summary on the chart and in the few short comments at the foot of the excel sheet.\r\n\r\nI am really pleased with this category of trade set-up. It has been by far my most successful trading style this year so far. This does make some sense in the fact that for most of this year I have been talking in my blogs and writing <strong>on </strong>Twitter about how choppy the markets have been and because of geopolitical uncertainties it has on many occasions been quite difficult to trade.\r\n\r\nThe actual performance for Q1 is in BLUE and the original projection is in BLACK. I have made no amendments to the original data.\r\n\r\nRoll on Q2 if it is half as good as Q1 there will be both pips and $$$$!!\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/position-trades-q1v2016-31032016/\" rel=\"attachment wp-att-7519\"><img class=\"aligncenter size-full wp-image-7519\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2016/03/POSITION-TRADES-Q1v2016-31032016.png\" alt=\"POSITION TRADES Q1v2016 31032016\" width=\"596\" height=\"456\" /></a>\r\n\r\n&nbsp;\r\n\r\nScott Pickering\r\nThe Pip Accumulator\r\nMarch 31st 2016\r\nwww.weeklyfxdrivethru.com/disclaimer/\r\n\r\n&nbsp;\r\n<p style=\"text-align: center;\"><span style=\"text-decoration: underline;\"><strong>BELOW IS THE ORIGINAL ARTICLE THAT WAS ON THIS PAGE TO CO-INCIDE WITH THE LAUNCH OF PART TIME TRADER TRADES IN JANUARY 2016:</strong></span></p>\r\nOne category of trader that is missed, ignored and frankly not really catered for by the FX market is the “the part-time” trader. Although many Forex educators have tried to formulate a strategy to work for traders who have limited access to their computers, they have had very limited success. Without doubt the development of trading on cell phones and tablets has helped, however trading part-time throws up limitations full-time traders just cannot grasp.\r\n\r\nHaving traded Forex myself now for over 8 years, I can understand the frustrations of the part-time trader and the feeling of isolation this brings. I started trading part-time, however my circumstances allowed me to move to full-time trading. Not everyone has this luxury. However, I get it, I understand the frustrations of a part-time trader when trades are closed when you are unable to access your computer. In the real world we have to accept that at times the markets will dictate trading, this cannot be avoided, however if there was a way this could be reduced, the involvement of part-time traders in the Forex market would rise again.\r\n\r\nWhen the PREMIUM SERVICE started in 2014, I tried to accommodate part-time traders needs to my best ability. I never really had the unique sales position that I strove to achieve and like many others I failed in my goals that I set myself in accommodating part-timers. The PREMIUM SERVICE profitability was on target, in fact it exceeded my expectations, but my objective of creating and supporting a niche for part-time traders just did not happen.\r\n\r\nIf you visit my website <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a> under the TAB on my landing page titled PREMIUM SERVICE all the 2015 and 2014 performances are compared and reviewed.\r\n\r\nI have shown that no matter what the size of budget you have, you can make money from Forex trading. This was my initial goal niche area, whether your account has a balance of $1,000.00, a $ 100,000,00, or somewhere in between the Forex market has opportunities for you to make money.\r\n\r\nSince offering a fee-based subscription option, the PREMIUM SERVICE, I have categorized my trade set ups into three different types of trades.\r\n\r\nFLASH TRADES – at market\r\nRADAR TRADES – limit orders\r\nFUNDAMENTAL TRADES – limit orders with longer-term horizons\r\n\r\nIn my opinion, you have to be an active trader to trade both RADAR and FLASH trades. It was part of my goal that the FUNDAMENTAL trades would be attractive to all traders but especially part-time traders.\r\n\r\nIt is with the FUNDAMENTAL trades that I have been reviewing my thoughts, ideas and objectives towards the end of 2015.\r\n\r\n<u>BACKGROUND TO THE DIVERGENT FUNDAMENTAL TRADES PLAN:</u>\r\n\r\nFollowing moves in the major central bank monetary policies (FED, ECB, BOJ, BOE, SNB, RBA, BOC and RBNZ); we now have policy divergence across the globe. In my opinion, this is a tradable feature and because it should be directional it has a hugely potential tradable benefit.\r\n\r\nI decided late October 2015, that from November 1<sup>st</sup> 2015 all future FUNDAMENTAL TRADES would be based around central bank divergence trades. This change was initially communicated to my existing PREMIUM SERVICE subscribers, who reside in all corners of the globe, trade with different sizes of accounts, some are active traders, some part-time, some just seasonal, many are technical traders and many are traders based off fundamental news. It is the full spectrum.\r\n\r\nI have received tremendous feedback, in particular from my part-time traders, who were missing some suggested trade set-ups as they could not access their computer devices enough times in the day to check for set-ups.\r\n\r\nFrom my perspective, it is much easier to plan and schedule DIVERGENT FUNDAMENTAL TRADES. Being, realistic, there are bound to be occasions when an entry or an exit price could be missed, nothing can be 100% in this market place but my part-time traders are delighted, and therefore so am I.\r\n\r\nArmed with this information, it gave me greater comfort when moving forward with this trading strategy.\r\n\r\nAs mentioned, the trade set-ups suggested are intended to have a longer-term trading perspective. They are not specifically aimed at traders who consider themselves to be part-time Forex traders, all traders can of course take advantage, and I see it as an additional income stream opportunity for all. Who doesn’t want extra $$$.\r\n\r\nMy definition of part-time is those of you who are only able to look at your computer screens, or, mobile devices to check trades two-three times a day.\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 compensation for this is that trades are smaller in size to allow for swings in volatility, but multiple trades in the same currency pair are added when the core trade has traction in the desired direction.\r\n\r\nI am suggesting that in order to protect RISK, your initial trade sizes are no more than 10% of your overall individual trade risk parameters that you have set in your TRADING PLAN. As the initial trades gather traction, additional trade set ups are suggested, these are managed on an individual basis based upon your account size and risk management parameters.\r\n\r\nMy 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 to take some profits along the way, but hopefully at the same time letting trades run as far as possible.\r\n\r\nWe are entering a period of two years or so at least, with divergent central bank monetary policies. As a Forex trader this gives me increased confidence when placing trades knowing that central bank policy is supportive of my trade direction. Whilst there is still risk attached to the trade, risks are minimized, and the longer-term nature of the trades allow for swings and volatility. If I can achieve my goal of 75% -25% profitable to losing trades over an extended trading period, I will be happy.\r\n\r\n<u>LOOKING AHEAD INTO 2016 and BEYOND:</u>\r\n\r\nBased on my historical performance data and using average take profits, stop loss levels and anticipated trade volumes for next year, the information below gives you an idea of the goals and objectives that I have set myself to achieve in 2016.\r\n\r\nMy cash flow projection for DIVERGENT FUNDAMENTAL TRADES for 2016 is below.\r\n\r\nThis is a projection based off previous performances over a two-year period so it has credibility. I have calculated this allowing for whether you are a micro, mini or standard lot trader.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/Cashflow-projection.jpg\"><img class=\"aligncenter size-large wp-image-6866\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/Cashflow-projection-770x1024.jpg\" alt=\"Cashflow-projection\" width=\"770\" height=\"1024\" /></a>\r\n\r\nBased on the examples set out in the spreadsheet. After all costs associated directly with trading are accounted for: -\r\n\r\nMicro lot traders have a potential net income of $789.75\r\nMini lot traders have a potential net income of $15,052.50\r\nStandard lot traders have a potential net income of $157,680.00\r\n\r\nObviously, should you trade 2 or 3 lot sized trades your RISK to trade (cost) are increased above the examples shown but additionally your net profit returns are potentially greater.\r\n\r\nRISK MANAGEMENT, POSITION SIZING and OVER LEVERAGING are crucial management tools you must understand before trading, having said that there are great income opportunities.\r\n\r\n&nbsp;\r\n\r\n<u>MOVING FORWARD IF YOU ARE INTERESTED:</u>\r\n\r\nIf what you have read sounds appealing and logical and you want to be a part of this trade idea. What do you need to do next?\r\n\r\nEXISTING TRADERS:\r\n<ol>\r\n 	<li>If you are already trading the Forex market. You need to subscribe to the PREMIUM SERVICE. Go to my website <a href=\"http://www.weeklyfxdrivethru.com\">weeklyfxdrivethru.com</a> On the landing page click on the SIGN UP tab. There you will find all the period options for being a subscriber. You need to have a PayPal account in order to register.</li>\r\n 	<li>If you are an existing Forex Trader and you want to keep these trades separate from your existing trades, why not open an additional account with one of my brokers listed on my landing page by clicking on one of their banners. From time to time there are special new client marketing bonus available. If unsure contact me for details.</li>\r\n</ol>\r\nNEW TO FOREX:\r\n<ol start=\"3\">\r\n 	<li>Brand new to Forex Trading. You will need both a broker account and a subscription to the PREMIUM SERVICE. Go to my website <a href=\"http://www.weeklyfxdrivethru.com\">weeklyfxdrivethru.com</a> On the landing page click on the SUBSCRIBE tab. There you will find all the options for being a subscriber. You need to have a PayPal account in order to register.</li>\r\n 	<li>You will require a broker account from which to trade from. I have 5 brokers listed with banners on my website. I deal with all five and have great account relationships with them all. They all offer great service and being part of my team with them helps should you have any technical or account issues moving forward. From time to time these brokers offer special offers to new clients. To open an account all you need to do is click on the banner and it is a short process to open an account. All you require is address confirmation and photo ID confirmation. Once these are accepted an account number is allocated to you, then you need to simply deposit funds into your account. You are then ready to trade. Personally, I would open a demo account as well to get you familiar with the trading platform. There are plenty of on-line tutorials with each broker to help and, in addition, I can offer assistance.</li>\r\n</ol>\r\nShould you still want additional information, this is not a problem; all trades for 2014 and 2015 are measured and recorded. These are available to you if you want them, plus any other information you would like to know about. If you want to know more, do not hesitate to contact me at the email address at the foot of this email.\r\n\r\nI am really excited about the opportunities that lie ahead with these trade set-ups.\r\n\r\nAs the realization that DIVERGENCE will be a reality in the operations of the world’s central bank monetary policy, trading the divergence has become stronger and as a result and profitability from these trades has increased since September 2015. This has happened, yet the crucial FED meeting, has not yet taken place. It is scheduled for December 16<sup>th</sup> 2015. After this meeting as the markets settle after the initial news, the DIVERGENCE will become stronger as we move through next year.\r\n\r\nIf you want to be part of this program, you need to get ready for 2016 now.\r\n\r\nGood Luck,\r\n\r\nScott Pickering\r\nThe Pip Accumulator\r\nwww.weeklyfxdrivethru.com/disclaimer/','Part-Time Forex (Position) Traders','','inherit','closed','closed','','6858-revision-v1','','','2016-10-31 14:26:05','2016-10-31 19:26:05','',6858,'http://weeklyfxdrivethru.com/6858-revision-v1/',0,'revision','',0),(8582,1,'2016-10-31 14:26:55','2016-10-31 19:26:55','<h4 style=\"text-align: center;\"><strong> </strong></h4>\r\n<h4 style=\"text-align: center;\"><strong>ARE YOU ALREADY, OR, ARE YOU THINKING ABOUT BEING A PART-TIME FOREX TRADER?\r\n</strong><strong>ARE YOU STRUGGLING TO ACHIEVE YOUR FINANCIAL GOALS?</strong></h4>\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\"><strong>THIS UPDATE WAS ADDED 31st OCTOBER 2016:</strong></span>\r\n\r\nAt the beginning of 2016 I launched PART-TIME TRADER TRADES and renamed them during 2016 to become POSITION TRADES.\r\n\r\nI set aggressive targets of more than doubling the size of your broker accounts in a structured way this year.  Below you will see my original post with my income projection table in BLACK. At the end of Q1 I reviewed the performance and added my to date table in BLUE. At the end of Q2 I posted again and updated the real time table this time in GREEN.\r\n\r\nNow we are at the end of October and I have updated the year performance once again, this time it\'s PURPLE.\r\n\r\nMany of my competitors who offer a PREMIUM SUBSCRIPTION service that like myself provides  a level of market commentary, promise the earth with their mentoring styles. I have NOT found any competitors who publish an annual pip objective or review performance against objectives that were set out.\r\n\r\nAs I keep telling my subscribers, what you see is what you get.\r\n\r\nMy POSITION TRADE profit objective was aggressive. To be this close given all the geopolitical events in 2016, frankly, I am absolutely delighted.\r\n\r\nPlease see that chart below to see the current position as at 31st October 2016, based upon the target set out on January 1st 2016. Beyond this current chart I have left all of my prior posts and updates from the original one in place for you to see the progress through the year.\r\n\r\n&nbsp;\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/10/POSITION-TRADES-Q3-2016-PERF-.png\"><img class=\"aligncenter size-large wp-image-8580\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/10/POSITION-TRADES-Q3-2016-PERF--1024x794.png\" alt=\"position-trades-q3-2016-perf\" width=\"1024\" height=\"794\" /></a>\r\n\r\n&nbsp;\r\n\r\nScott Pickering\r\nThe Pip Accumulator\r\n31st October 2016\r\n\r\n&nbsp;\r\n\r\n<strong><span style=\"text-decoration: underline;\">THE FOLLOWING POST WAS ADDED ON JULY 11th 2016:</span></strong>\r\n\r\nI updated my 2016 spreadsheet and performance with regards to POSITION (PART-TIME TRADER TRADES) at the end of Q1.  At that time, I left on this page the original post to this drop down menu so that it was clear to see the existing performance versus the initial projection.\r\n\r\nIt now the end of Q2 and have decided to do the same again. At the end of this update dated 11th July 2016 reflecting upon Q2 2016 performance, you will find my March 31st post reflecting on the Q1 performance and then my original post when I decided to launch PART TIME TRADER TRADES now called POSITION TRADES in December 2015.\r\n\r\nMy initial comments on the performance to date are as follows (see the excel spreadsheet below):\r\n<ol>\r\n 	<li>Never be upset at making money when trading.</li>\r\n 	<li>I knew that I was having to continually adjust to market conditions. I had blogged continually this year about uncertainty and lots of chop in the markets making normal trading very difficult at times. This \"Chop\" has manifested itself in the way that my POSITION TRADES have played out.</li>\r\n 	<li>I have completed 88 trades already from a projected 90 trades for the whole year.</li>\r\n 	<li>Profit loss ratios on completed trades are at 86%-14% well ahead of my projected 75%-25% projection.</li>\r\n 	<li> 5,106 pips have been achieved against the annual target of 8,438, which equates to 60% of my annual goal after 50% of year is complete. To achieve my ambitious 2016 objective will be a tall order but I am up for the challenge.<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/07/POS-TRADES-Q2-actual-v-proj-11072016.png\"><img class=\"aligncenter size-full wp-image-8138\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/07/POS-TRADES-Q2-actual-v-proj-11072016.png\" alt=\"POS TRADES Q2 actual-v-proj 11072016\" width=\"606\" height=\"437\" /></a></li>\r\n</ol>\r\nAs I have said all along with my trading it is vital to trade what you are presented with. Longer-term trading whilst the \"day to day noise\" can be excluded from the process of placing a trade it still has its own difficulties that have been clear to see as more and more uncertainties have entered the marketplace.\r\n\r\nWe now enter Q3 the silly season when liquidity is much lower and the Asian market sessions become more and more of a nonsense as the liquidity really dries up even more into an illiquid session at the best of times. There is still huge uncertainty hanging over the markets in particular surrounding the BREXIT fallout but also the US Presidential Election is approaching really fast. Trading patterns/ levels will be harder in this environment.\r\n\r\nIn three months, I will post a Q3 follow up.\r\n\r\nScott Pickering\r\nThe Pip Accumulator\r\nJuly 11th 2016\r\nwww.weeklyfxdrivethru.com/disclaimer/\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\"><strong>BELOW IS THE Q1 REVIEW THAT WAS PUBLISHED ON MARCH 31st 2016:</strong></span>\r\n\r\nWe are almost three months into 2016 trading and I thought that it would be a great idea to review the performance of my new trading category, that was launched in January this year; PART-TIME TRADER TRADES.\r\n\r\nBefore getting into the “nitty gritty” of projected numbers versus actual performance, I thought I should offer an overview to date.\r\n\r\nThis year trading has not been as clear-cut as I had hoped for. The divergent trade, which frankly launched this idea of the new trade set-up category, has not been as visible as I had hoped. In fact, there have been clear examples of central bank policy direction being ignored (BOJ and ECB). Coupled with some major geopolitical uncertainties, I have not had the confidence to let trades run as I had originally intended and I have cut trades short, mostly at the time they were profitable to bank $$$.\r\n\r\nMoving forward, I do see the divergent trade re-appearing because frankly, nothing has fundamentally changed. The FED is still progressing with monetary policy, that is, raising rates when the two other large central banks the ECB and BOJ are still easing with monetary policy through a long term quantitative easing program. From this perspective nothing has changed.\r\n\r\nHowever, one thing that I do want to change is the name given to these suggested trade set-ups moving forward. From April 4<sup>th</sup> 2016 they were renamed as POSITION TRADES and no longer PART-TIME TRADER TRADES. They will now carry the prefix POS as suggested set-ups are posted to subscribers of the PREMIUM SERVICE.\r\n\r\nBelow is the PROJECTED PERFORMANCE versus the ACTUAL for Q1 2016. I have added a short commentary / summary on the chart and in the few short comments at the foot of the excel sheet.\r\n\r\nI am really pleased with this category of trade set-up. It has been by far my most successful trading style this year so far. This does make some sense in the fact that for most of this year I have been talking in my blogs and writing <strong>on </strong>Twitter about how choppy the markets have been and because of geopolitical uncertainties it has on many occasions been quite difficult to trade.\r\n\r\nThe actual performance for Q1 is in BLUE and the original projection is in BLACK. I have made no amendments to the original data.\r\n\r\nRoll on Q2 if it is half as good as Q1 there will be both pips and $$$$!!\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/position-trades-q1v2016-31032016/\" rel=\"attachment wp-att-7519\"><img class=\"aligncenter size-full wp-image-7519\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2016/03/POSITION-TRADES-Q1v2016-31032016.png\" alt=\"POSITION TRADES Q1v2016 31032016\" width=\"596\" height=\"456\" /></a>\r\n\r\n&nbsp;\r\n\r\nScott Pickering\r\nThe Pip Accumulator\r\nMarch 31st 2016\r\nwww.weeklyfxdrivethru.com/disclaimer/\r\n\r\n&nbsp;\r\n<p style=\"text-align: center;\"><span style=\"text-decoration: underline;\"><strong>BELOW IS THE ORIGINAL ARTICLE THAT WAS ON THIS PAGE TO CO-INCIDE WITH THE LAUNCH OF PART TIME TRADER TRADES IN JANUARY 2016:</strong></span></p>\r\nOne category of trader that is missed, ignored and frankly not really catered for by the FX market is the “the part-time” trader. Although many Forex educators have tried to formulate a strategy to work for traders who have limited access to their computers, they have had very limited success. Without doubt the development of trading on cell phones and tablets has helped, however trading part-time throws up limitations full-time traders just cannot grasp.\r\n\r\nHaving traded Forex myself now for over 8 years, I can understand the frustrations of the part-time trader and the feeling of isolation this brings. I started trading part-time, however my circumstances allowed me to move to full-time trading. Not everyone has this luxury. However, I get it, I understand the frustrations of a part-time trader when trades are closed when you are unable to access your computer. In the real world we have to accept that at times the markets will dictate trading, this cannot be avoided, however if there was a way this could be reduced, the involvement of part-time traders in the Forex market would rise again.\r\n\r\nWhen the PREMIUM SERVICE started in 2014, I tried to accommodate part-time traders needs to my best ability. I never really had the unique sales position that I strove to achieve and like many others I failed in my goals that I set myself in accommodating part-timers. The PREMIUM SERVICE profitability was on target, in fact it exceeded my expectations, but my objective of creating and supporting a niche for part-time traders just did not happen.\r\n\r\nIf you visit my website <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a> under the TAB on my landing page titled PREMIUM SERVICE all the 2015 and 2014 performances are compared and reviewed.\r\n\r\nI have shown that no matter what the size of budget you have, you can make money from Forex trading. This was my initial goal niche area, whether your account has a balance of $1,000.00, a $ 100,000,00, or somewhere in between the Forex market has opportunities for you to make money.\r\n\r\nSince offering a fee-based subscription option, the PREMIUM SERVICE, I have categorized my trade set ups into three different types of trades.\r\n\r\nFLASH TRADES – at market\r\nRADAR TRADES – limit orders\r\nFUNDAMENTAL TRADES – limit orders with longer-term horizons\r\n\r\nIn my opinion, you have to be an active trader to trade both RADAR and FLASH trades. It was part of my goal that the FUNDAMENTAL trades would be attractive to all traders but especially part-time traders.\r\n\r\nIt is with the FUNDAMENTAL trades that I have been reviewing my thoughts, ideas and objectives towards the end of 2015.\r\n\r\n<u>BACKGROUND TO THE DIVERGENT FUNDAMENTAL TRADES PLAN:</u>\r\n\r\nFollowing moves in the major central bank monetary policies (FED, ECB, BOJ, BOE, SNB, RBA, BOC and RBNZ); we now have policy divergence across the globe. In my opinion, this is a tradable feature and because it should be directional it has a hugely potential tradable benefit.\r\n\r\nI decided late October 2015, that from November 1<sup>st</sup> 2015 all future FUNDAMENTAL TRADES would be based around central bank divergence trades. This change was initially communicated to my existing PREMIUM SERVICE subscribers, who reside in all corners of the globe, trade with different sizes of accounts, some are active traders, some part-time, some just seasonal, many are technical traders and many are traders based off fundamental news. It is the full spectrum.\r\n\r\nI have received tremendous feedback, in particular from my part-time traders, who were missing some suggested trade set-ups as they could not access their computer devices enough times in the day to check for set-ups.\r\n\r\nFrom my perspective, it is much easier to plan and schedule DIVERGENT FUNDAMENTAL TRADES. Being, realistic, there are bound to be occasions when an entry or an exit price could be missed, nothing can be 100% in this market place but my part-time traders are delighted, and therefore so am I.\r\n\r\nArmed with this information, it gave me greater comfort when moving forward with this trading strategy.\r\n\r\nAs mentioned, the trade set-ups suggested are intended to have a longer-term trading perspective. They are not specifically aimed at traders who consider themselves to be part-time Forex traders, all traders can of course take advantage, and I see it as an additional income stream opportunity for all. Who doesn’t want extra $$$.\r\n\r\nMy definition of part-time is those of you who are only able to look at your computer screens, or, mobile devices to check trades two-three times a day.\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 compensation for this is that trades are smaller in size to allow for swings in volatility, but multiple trades in the same currency pair are added when the core trade has traction in the desired direction.\r\n\r\nI am suggesting that in order to protect RISK, your initial trade sizes are no more than 10% of your overall individual trade risk parameters that you have set in your TRADING PLAN. As the initial trades gather traction, additional trade set ups are suggested, these are managed on an individual basis based upon your account size and risk management parameters.\r\n\r\nMy 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 to take some profits along the way, but hopefully at the same time letting trades run as far as possible.\r\n\r\nWe are entering a period of two years or so at least, with divergent central bank monetary policies. As a Forex trader this gives me increased confidence when placing trades knowing that central bank policy is supportive of my trade direction. Whilst there is still risk attached to the trade, risks are minimized, and the longer-term nature of the trades allow for swings and volatility. If I can achieve my goal of 75% -25% profitable to losing trades over an extended trading period, I will be happy.\r\n\r\n<u>LOOKING AHEAD INTO 2016 and BEYOND:</u>\r\n\r\nBased on my historical performance data and using average take profits, stop loss levels and anticipated trade volumes for next year, the information below gives you an idea of the goals and objectives that I have set myself to achieve in 2016.\r\n\r\nMy cash flow projection for DIVERGENT FUNDAMENTAL TRADES for 2016 is below.\r\n\r\nThis is a projection based off previous performances over a two-year period so it has credibility. I have calculated this allowing for whether you are a micro, mini or standard lot trader.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/Cashflow-projection.jpg\"><img class=\"aligncenter size-large wp-image-6866\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/Cashflow-projection-770x1024.jpg\" alt=\"Cashflow-projection\" width=\"770\" height=\"1024\" /></a>\r\n\r\nBased on the examples set out in the spreadsheet. After all costs associated directly with trading are accounted for: -\r\n\r\nMicro lot traders have a potential net income of $789.75\r\nMini lot traders have a potential net income of $15,052.50\r\nStandard lot traders have a potential net income of $157,680.00\r\n\r\nObviously, should you trade 2 or 3 lot sized trades your RISK to trade (cost) are increased above the examples shown but additionally your net profit returns are potentially greater.\r\n\r\nRISK MANAGEMENT, POSITION SIZING and OVER LEVERAGING are crucial management tools you must understand before trading, having said that there are great income opportunities.\r\n\r\n&nbsp;\r\n\r\n<u>MOVING FORWARD IF YOU ARE INTERESTED:</u>\r\n\r\nIf what you have read sounds appealing and logical and you want to be a part of this trade idea. What do you need to do next?\r\n\r\nEXISTING TRADERS:\r\n<ol>\r\n 	<li>If you are already trading the Forex market. You need to subscribe to the PREMIUM SERVICE. Go to my website <a href=\"http://www.weeklyfxdrivethru.com\">weeklyfxdrivethru.com</a> On the landing page click on the SIGN UP tab. There you will find all the period options for being a subscriber. You need to have a PayPal account in order to register.</li>\r\n 	<li>If you are an existing Forex Trader and you want to keep these trades separate from your existing trades, why not open an additional account with one of my brokers listed on my landing page by clicking on one of their banners. From time to time there are special new client marketing bonus available. If unsure contact me for details.</li>\r\n</ol>\r\nNEW TO FOREX:\r\n<ol start=\"3\">\r\n 	<li>Brand new to Forex Trading. You will need both a broker account and a subscription to the PREMIUM SERVICE. Go to my website <a href=\"http://www.weeklyfxdrivethru.com\">weeklyfxdrivethru.com</a> On the landing page click on the SUBSCRIBE tab. There you will find all the options for being a subscriber. You need to have a PayPal account in order to register.</li>\r\n 	<li>You will require a broker account from which to trade from. I have 5 brokers listed with banners on my website. I deal with all five and have great account relationships with them all. They all offer great service and being part of my team with them helps should you have any technical or account issues moving forward. From time to time these brokers offer special offers to new clients. To open an account all you need to do is click on the banner and it is a short process to open an account. All you require is address confirmation and photo ID confirmation. Once these are accepted an account number is allocated to you, then you need to simply deposit funds into your account. You are then ready to trade. Personally, I would open a demo account as well to get you familiar with the trading platform. There are plenty of on-line tutorials with each broker to help and, in addition, I can offer assistance.</li>\r\n</ol>\r\nShould you still want additional information, this is not a problem; all trades for 2014 and 2015 are measured and recorded. These are available to you if you want them, plus any other information you would like to know about. If you want to know more, do not hesitate to contact me at the email address at the foot of this email.\r\n\r\nI am really excited about the opportunities that lie ahead with these trade set-ups.\r\n\r\nAs the realization that DIVERGENCE will be a reality in the operations of the world’s central bank monetary policy, trading the divergence has become stronger and as a result and profitability from these trades has increased since September 2015. This has happened, yet the crucial FED meeting, has not yet taken place. It is scheduled for December 16<sup>th</sup> 2015. After this meeting as the markets settle after the initial news, the DIVERGENCE will become stronger as we move through next year.\r\n\r\nIf you want to be part of this program, you need to get ready for 2016 now.\r\n\r\nGood Luck,\r\n\r\nScott Pickering\r\nThe Pip Accumulator\r\nwww.weeklyfxdrivethru.com/disclaimer/','Part-Time Forex (Position) Traders','','inherit','closed','closed','','6858-revision-v1','','','2016-10-31 14:26:55','2016-10-31 19:26:55','',6858,'http://weeklyfxdrivethru.com/6858-revision-v1/',0,'revision','',0),(8585,1,'2016-11-04 14:17:34','2016-11-04 19:17:34','','prem-serv-profits1-05112016','','inherit','open','closed','','prem-serv-profits1-05112016','','','2016-11-05 16:27:43','2016-11-05 21:27:43','',5000,'http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/PREM-SERV-PROFITS1-05112016.png',0,'attachment','image/png',0),(8586,1,'2016-11-04 14:17:38','2016-11-04 19:17:38','','prem-serv-profits2-05112016','','inherit','open','closed','','prem-serv-profits2-05112016','','','2016-11-05 16:28:05','2016-11-05 21:28:05','',5000,'http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/PREM-SERV-PROFITS2-05112016.png',0,'attachment','image/png',0),(8587,1,'2016-11-04 14:18:16','2016-11-04 19:18:16','','prem-serv-net-profits-2014','','inherit','open','closed','','prem-serv-net-profits-2014','','','2016-11-05 15:59:29','2016-11-05 20:59:29','',8605,'http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/PREM-SERV-NET-PROFITS-2014.png',0,'attachment','image/png',0),(8588,1,'2016-11-04 14:18:21','2016-11-04 19:18:21','','prem-serv-net-profits-2015','','inherit','open','closed','','prem-serv-net-profits-2015','','','2016-11-05 16:00:00','2016-11-05 21:00:00','',8605,'http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/PREM-SERV-NET-PROFITS-2015.png',0,'attachment','image/png',0),(8597,1,'2016-11-04 14:20:16','2016-11-04 19:20:16','','prem-serv-net-profits-2016','','inherit','open','closed','','prem-serv-net-profits-2016','','','2016-11-05 16:00:17','2016-11-05 21:00:17','',8605,'http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/PREM-SERV-NET-PROFITS-2016.png',0,'attachment','image/png',0),(8598,1,'2016-11-04 16:05:21','2016-11-04 21:05:21','','audusd-daily-05112016','','inherit','open','closed','','audusd-daily-05112016','','','2016-11-05 16:09:53','2016-11-05 21:09:53','',8605,'http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/AUDUSD-DAILY-05112016.png',0,'attachment','image/png',0),(8590,1,'2016-11-04 14:18:26','2016-11-04 19:18:26','','pos-trades-cashflow-jan16','','inherit','open','closed','','pos-trades-cashflow-jan16','','','2016-11-05 16:01:33','2016-11-05 21:01:33','',8605,'http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/POS-TRADES-CASHFLOW-JAN16.png',0,'attachment','image/png',0),(8591,1,'2016-11-04 14:18:30','2016-11-04 19:18:30','','pos-trades-cashflow-march16','','inherit','open','closed','','pos-trades-cashflow-march16','','','2016-11-05 16:02:52','2016-11-05 21:02:52','',8605,'http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/POS-TRADES-CASHFLOW-MARCH16.png',0,'attachment','image/png',0),(8592,1,'2016-11-04 14:18:35','2016-11-04 19:18:35','','pos-trades-cashflow-june16','','inherit','open','closed','','pos-trades-cashflow-june16','','','2016-11-05 16:03:32','2016-11-05 21:03:32','',8605,'http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/POS-TRADES-CASHFLOW-JUNE16.png',0,'attachment','image/png',0),(8593,1,'2016-11-04 14:18:39','2016-11-04 19:18:39','','pos-trades-cashflow-oct16','','inherit','open','closed','','pos-trades-cashflow-oct16','','','2016-11-05 16:04:07','2016-11-05 21:04:07','',8605,'http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/POS-TRADES-CASHFLOW-OCT16.png',0,'attachment','image/png',0),(8594,1,'2016-11-04 14:18:46','2016-11-04 19:18:46','','limit-orders-05112016','','inherit','open','closed','','limit-orders-05112016','','','2016-11-05 16:14:09','2016-11-05 21:14:09','',8605,'http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/LIMIT-ORDERS-05112016.png',0,'attachment','image/png',0),(8595,1,'2016-11-04 14:18:49','2016-11-04 19:18:49','','live-trades-05112016','','inherit','open','closed','','live-trades-05112016','','','2016-11-05 16:13:55','2016-11-05 21:13:55','',8605,'http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/LIVE-TRADES-05112016.png',0,'attachment','image/png',0),(8596,1,'2016-11-04 14:18:53','2016-11-04 19:18:53','','us-election-armageddon-trades','','inherit','open','closed','','us-election-armageddon-trades','','','2016-11-05 16:12:45','2016-11-05 21:12:45','',8605,'http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/US-ELECTION-ARMAGEDDON-TRADES-.png',0,'attachment','image/png',0),(8599,1,'2016-11-04 16:05:24','2016-11-04 21:05:24','','eurusd-daily-05112016','','inherit','open','closed','','eurusd-daily-05112016','','','2016-11-05 16:09:29','2016-11-05 21:09:29','',8605,'http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/EURUSD-DAILY-05112016.png',0,'attachment','image/png',0),(8600,1,'2016-11-04 16:05:28','2016-11-04 21:05:28','','gbpusd-daily-05112016','','inherit','open','closed','','gbpusd-daily-05112016','','','2016-11-05 16:09:42','2016-11-05 21:09:42','',8605,'http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/GBPUSD-DAILY-05112016.png',0,'attachment','image/png',0),(8601,1,'2016-11-04 16:05:31','2016-11-04 21:05:31','','nzdusd-daily-05112016','','inherit','open','closed','','nzdusd-daily-05112016','','','2016-11-05 16:10:05','2016-11-05 21:10:05','',8605,'http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/NZDUSD-DAILY-05112016.png',0,'attachment','image/png',0),(8602,1,'2016-11-04 16:05:34','2016-11-04 21:05:34','','usdcad-daily-05112016','','inherit','open','closed','','usdcad-daily-05112016','','','2016-11-05 16:10:18','2016-11-05 21:10:18','',8605,'http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/USDCAD-DAILY-05112016.png',0,'attachment','image/png',0),(8603,1,'2016-11-04 16:05:37','2016-11-04 21:05:37','','usdchf-daily-05112016','','inherit','open','closed','','usdchf-daily-05112016','','','2016-11-05 16:10:32','2016-11-05 21:10:32','',8605,'http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/USDCHF-DAILY-05112016.png',0,'attachment','image/png',0),(8604,1,'2016-11-04 16:05:40','2016-11-04 21:05:40','','usdjpy-daily-05112016','','inherit','open','closed','','usdjpy-daily-05112016','','','2016-11-05 16:10:56','2016-11-05 21:10:56','',8605,'http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/USDJPY-DAILY-05112016.png',0,'attachment','image/png',0),(8605,1,'2016-11-05 16:18:01','2016-11-05 21:18:01','<strong> </strong>\r\n<ol>\r\n 	<li><strong> INTRODUCTION:</strong></li>\r\n</ol>\r\nI was going to make the title of this week’s blog something relevant to the U.S. Presidential election.\r\n\r\nOn Friday last week, CNN posted a poll stating that 83% of eligible Americans who can vote were disgusted with the way the Presidential campaigns were run.\r\n\r\nSo to all American readers….\r\n\r\nPlease, get out there and…\r\n\r\n<strong>VOTE FOR YOUR LEAST HATED CANDIDATE\r\n</strong>\r\n\r\nand let’s get the news cycle changed, please I am begging you!!\r\n\r\n&nbsp;\r\n\r\nMoving on…\r\n\r\nLast week was a very busy week for news items.\r\n\r\nI made an elementary mistake early in the week that I paid the ultimate price for. Even though I was aware of the geopolitical events on the horizon coupled with a packed economic calendar, I went into long USD trades too early, although not too aggressively. I took some hits, which has set me back a little.\r\n\r\nI was also caught off my guard with the U.S. opinion polls, from which, I took my trades expecting a bounce in the DXY but the flight to safety surrounding the possible TRUMP election victory took me for 300 pips. I felt somewhat like a lamb to the slaughter. However, as I have written about several times in this blog it’s NOT about how you fall down, it’s more about how you get back up!\r\n\r\nLooking ahead…\r\n\r\nI am a huge believer in having a TRADE PLAN and then actually trying to TRADE YOUR PLAN. You will read in many places a phrase PLAN YOUR TRADES and TRADE YOUR PLAN. I believe 100% with this approach to Forex. When I go into big news items I will have my plan in mind, as I need to know what way I am going to play the news, if it is my intention to trade the news. On many occasions I stay sidelined. I have moved more and more to trading with a longer-term perspective and to be effective with this type of trading you have to be able for the most part to sit through news releases. There are from time to time exceptions but for the main part my trades are there longer term.\r\n\r\nThis was not how I approached trading Forex in 2015 and definitely not my approach in 2014. Why am I writing about this?\r\n\r\nBasically because I have just completed my October 2016 PREMIUM SERVICE performance, and updated all areas on my website whether open to all or the restricted areas open only to my PREMIUM SERVICE subscribers.\r\n\r\n2016 was a very different year and looking back on what I wrote in late December 2015 and early 2016 in my DRIVE THRU blogs the year has panned out almost 180 degrees away from what I expected.\r\n\r\nThe PREMIUM SERVICE performance has been fantastic (there’s nothing like self-praise) when I review the year so far\r\n\r\nI am planning 2017 at the moment. I am looking at everything that I do with my business from the day to day to the macro level.\r\n\r\nFrom this week until the end of this year, Section 2 of the blog will be extended to show greater detail of the PREMIUM SERVICE returns. I am hoping that non-subscribers will find this additional information beneficial and convince them that they are missing out and subscribe.\r\n\r\nDo not forget…\r\n\r\nJust a quick reminder; each month, I am giving away a FREE PREMIUM SERVICE 4-week subscription. This gives the winner 100% access to the PREMIUM SERVICE website and ALL my PREMIUM SERVICE communications from my suggested trade set-ups to market commentaries and my thoughts.\r\n\r\nTo stand a chance of being the next subscription winner, you need to subscribe to receive this free blog via my website <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a><strong>  </strong><strong> </strong>\r\n\r\nYou are automatically entered into a free monthly draw, once you’ve subscribed. Each month one lucky blog subscriber will receive a free subscription to the PREMIUM SERVICE.\r\n\r\n<strong> </strong>\r\n<ol start=\"2\">\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 the various trade styles plus 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 credit card.\r\n\r\n<u>PREMIUM SERVICE SUBSCRIPTION COSTS:</u>\r\n\r\nDetails of features and benefits of a PREMIUM SERVICE subscription can be found on my website landing page at <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a> under the dropdown tab at the top of the page entitled HISTORY &amp; PERFORMANCE OF THE PREMIUM SERVICE. To subscribe follow the SUBSCRIBE HERE tab.\r\n\r\nPREMIUM SERVICE subscription costs are as follows: -\r\n\r\nCAD$240.00 - 4 weeks (1 month)\r\nCAD$500.00 - 10 weeks (3 months)\r\nCAD$750.00 - 20 weeks (6 months)CAD$1,250.00 - 40 weeks (12 months)\r\n<u>PLUS</u>: Existing PLATINUM MEMBERS (annual subscribers) can re-subscribe for a further 12 months for CAD$1,000.00\r\n\r\nI work for about 40 weeks a year. Subscriptions are based on 40 published blogs of the WEEKLY FX DRIVE THRU per year. For the remaining 10 weeks, I am around tweeting, posting and managing existing LIVE trades, although my market activity is reduced.\r\n\r\n<u>PREMIUM SERVICE PERFORMANCE:</u>\r\n\r\nPRESENT AND HISTORICAL QUICK PREMIUM SERVICE STATS:\r\n\r\nOCTOBER 2016\r\nNET PIPS OCTOBER:        +2,633 pips\r\nNET PIPS 2016 END OF OCTOBER:      +11,618 pips\r\n\r\nTHIS MONTH SO FAR TO 05.11.2016: -194 pips\r\nYEAR TO DATE TOTAL: +11,424 pips\r\n\r\nNET PIPS 2015:       +10,686 pips\r\nNET PIPS 2014:       +11,209 pips\r\n\r\nBelow, for additional information on the past and current trading I include excel spreadsheets detailing the overviews of the PREMIUM SERVICE performance.\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/PREM-SERV-NET-PROFITS-2014.png\"><img class=\"aligncenter size-full wp-image-8587\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/PREM-SERV-NET-PROFITS-2014.png\" alt=\"prem-serv-net-profits-2014\" width=\"1012\" height=\"838\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/PREM-SERV-NET-PROFITS-2015.png\"><img class=\"aligncenter size-full wp-image-8588\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/PREM-SERV-NET-PROFITS-2015.png\" alt=\"prem-serv-net-profits-2015\" width=\"1010\" height=\"872\" /></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/2016/11/PREM-SERV-NET-PROFITS-2016.png\"><img class=\"aligncenter size-large wp-image-8597\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/PREM-SERV-NET-PROFITS-2016-925x1024.png\" alt=\"prem-serv-net-profits-2016\" width=\"925\" height=\"1024\" /></a>\r\n\r\n&nbsp;\r\n\r\nPART-TIME TRADER (POSITION) TRADES:\r\n\r\nAt the end of 2015, having listened to many of my subscribers and from a market survey that I undertook, I wanted to try and address those Forex traders who would consider themselves to be a PART-TIME trader for whatever reason.\r\n\r\nPART-TIME FOREX TRADERS fall between a rock and a hard place.  It is very, very difficult with limited access to computers due to full-time employment or limited access to a computer due time constraints, to have a voice when trading.\r\n\r\nNow more than ever you really need to be 24 x 5 with your devices to keep on top of things.\r\n\r\nI wanted to try and find a trading solution for PART-TIME TRADERS.\r\n\r\nLet me be the first to say, my solution is not 100% perfect. You can put lipstick on a pig but it’s still a pig, if you understand me. This is not an easy fix. But I wanted to try, and to be honest, timing in Forex is everything.\r\n\r\nMy initial solution, and it is on-going, has been my savior to my trading performance this year so far, with just 6/7 weeks left to go.\r\n\r\nI introduced PART-TIME TRADER TRADES now called POSITION TRADES at the start of 2016. This trading style is based upon my FUNDAMENTAL longer-term market views. These trades are LIMIT ORDER entry trades with very wide stops based on ATR (Average True Range) limits, mostly weekly limits, but sometimes monthly limits, using Fibonacci levels and trend lines to set stops and limits.\r\n\r\nThey have been, due to the way that the Forex market has been held to ransom inside tight trading ranges for most of the year, creating very choppy market conditions very successful.\r\n\r\nI am NOT saying that these trades and the way I trade them because I still have to assess trades all the time and close off trades early etc.… are the “B all and end all” holy grail for PART-TIME TRADERS but they are a step in the right direction.\r\n\r\nThese trades also suit FULL-TIME traders who want to take a longer-term perspective.\r\n\r\nHow successful have they been?\r\n\r\nHow do I measure their success?\r\n\r\nVery simply, when launching these trades, a year ago I created a page on my website landing page at <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a> called PART TIME FOREX TRADERS it is part of my drop down menu at the top of my landing page.\r\n\r\nI tried my best to define my target audience and I posted a cash flow projection, it is still there today and I have subsequently added quarterly reviews during the year.\r\n\r\nBelow is the initial cash flow projection that was posted the first week of January 2016.\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/POS-TRADES-CASHFLOW-JAN16.png\"><img class=\"aligncenter size-large wp-image-8590\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/POS-TRADES-CASHFLOW-JAN16-808x1024.png\" alt=\"pos-trades-cashflow-jan16\" width=\"808\" height=\"1024\" /></a>\r\n\r\nI am not going to spend a great deal of time on this. Basically for the purpose of this section of the DRIVE THRU blog will focus solely on MINI LOT traders.\r\n\r\nMy suggestion on day 1, was to open a broker account with USD$7,500. At the end of the year based only on single lot trades after costs to trade and my PREMIUM SERVICE annual subscription my goal was to grow the broker account from USD$7,500 to $15,052.50 by the end of 2016.\r\n\r\n<span style=\"color: #0000ff;\"><strong><u>That would be to double your initial investment after ALL costs were accounted for.</u></strong></span>\r\n\r\nHow have I faired with this quest?\r\n\r\nBelow is the spreadsheet update post I made to my website on the 31<sup>st</sup> March 2016. Three months after the launch.\r\n\r\n<strong> <a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/POS-TRADES-CASHFLOW-MARCH16.png\"><img class=\"aligncenter size-large wp-image-8591\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/POS-TRADES-CASHFLOW-MARCH16-1024x864.png\" alt=\"pos-trades-cashflow-march16\" width=\"1024\" height=\"864\" /></a></strong>\r\n\r\nAs you can see the initial USD$7.500.00 now stood at USD$9,655.00 after ALL costs were accounted for.\r\n\r\nBelow is the spreadsheet update added to my drop down menu and posted on July 11<sup>th</sup> 2016.<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/POS-TRADES-CASHFLOW-JUNE16.png\"><img class=\"aligncenter size-large wp-image-8592\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/POS-TRADES-CASHFLOW-JUNE16-1024x806.png\" alt=\"pos-trades-cashflow-june16\" width=\"1024\" height=\"806\" /></a>\r\n\r\nAs you can now further profits were added and the position at the end of June was USD$11,723.00. Again this is the net position after all costs have been taken into consideration.\r\n\r\nBelow is the update posted on 31<sup>st</sup> October 2016.\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/POS-TRADES-CASHFLOW-OCT16.png\"><img class=\"aligncenter size-large wp-image-8593\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/POS-TRADES-CASHFLOW-OCT16-1024x792.png\" alt=\"pos-trades-cashflow-oct16\" width=\"1024\" height=\"792\" /></a>\r\n\r\nAt the end of last month, the cumulative position now shows that the original account with USD$7,500 now stands at net USD$13,868.00.\r\n\r\nThere is just under USD$1,200 in income left to achieve (1,200 pips over the months of November and December). It is a tall order.\r\n\r\nThere are more comments regarding the performance on my website under THE PART TIME TRADERS drop down menu.\r\n\r\nWhat about my macro thoughts on the performance of the POSITION TRADES?\r\n\r\nMy thoughts are very straightforward: -\r\n<ol>\r\n 	<li>This (2016) has been an extremely difficult year to trade in.</li>\r\n 	<li>My approach to trading this year has been almost a 180 degree turn on 2015 trading.</li>\r\n 	<li>Features and factors that prompted me to start this trading style, namely central bank diversification never became as big of an issue as I thought it would have been. I had to re-focus and adapt the POSITION trade set ups to compensate for this.</li>\r\n 	<li>This review of style, manifested itself in the facts that my projection was for just 90 trades in the year. So far I have completed 146 trades (more than 50% more than anticipated). My profits per trade are less and my losses per trade are well under projection.</li>\r\n 	<li>I am, given the above points 1-4, delighted to have achieved this performance so far.</li>\r\n 	<li>Have I delivered what I set out for PART-TIME traders? Not 100%. I have delivered profits but the timings for closing of trades is still an issue. I cannot let losses grow or profits diminish due to a trading style. I have to 100% trade the price action in the market as I see it.</li>\r\n 	<li>What about 2017?I will continue this trading style next year, but I will review my other trading styles. It is impossible to predict what type of a trading year 2017 will be, apart from the fact it contains 365 days and that there will always be a forex market every day the market is open.</li>\r\n</ol>\r\nIf you would like additional supporting data or detail about the performance and the tabs on my website landing page at <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a> do not answer your questions, contact me directly and I will supply the trading data you require. There are NO secrets. There are many, many spreadsheets detailing performance trade by trade and by trade and by trading style, way too many to place in this blog. If you are interested in the PREMIUM SERVICE and want more information, all you have to do is ask.\r\n\r\n<strong> </strong>\r\n<ol start=\"3\">\r\n 	<li><strong> LOOKING BACKWARDS: THE FX MARKET PLACE</strong></li>\r\n</ol>\r\n<strong>LAST WEEK’S FOREX and ECONOMIC NEWS – MY VIEWS:</strong>\r\n\r\nUK BREXIT HIGH COURT RULING &amp; BOE INFLATION REPORT:\r\n\r\nHoly crap.\r\n\r\nI totally get the high court’s reasoning behind parliament needing an agreement to trigger article 50. However, one would have thought given the fact that all along David Cameron (ex. UK Prime Minister) and Theresa May (current Prime Minister) have both stated that it was in the UK governments power alone to trigger article 50, that the legal “johnnies” would have given Cameron a legal opinion on this matter prior to the voting slips being printed?\r\n\r\nOr did Cameron enter the referendum believing all was well in blighty… well it may have been in central London and no legal opinion was sought, did he believe that it was a slam dunk REMAIN victory?\r\n\r\nWhat emanates out of this court ruling is yet more uncertainty. The appeal against this decision will be heard the first week of December and ruled upon then.\r\n\r\nI would love an audience with Cameron and May to ask them a few questions about this process.\r\n\r\nThe referendum voting slip said: -\r\n\r\n<strong>“This is your decision. The Government will implement what you decide”</strong>\r\n\r\nThe Supreme court could go either way on the high court ruling.\r\n\r\nAt the end of the day, let’s say Parliament has to vote. MP’s in fear of not being elected next time around, would be one brick from a full load if they did NOT vote in line with their constituents wishes from the BREXIT vote last June. If it’s just a vote, this is politics, the MP’s will vote in line with the people who elected them to represent their wishes.\r\n\r\nIn my opinion, it all depends on the wording of the paper put before the MP’s to vote on. It will end up being so vague to ensure an agreement between the House of Commons and the popular vote last June.\r\n\r\nThen we move on…. here’s a thought!\r\n\r\nTheresa May might call a snap general election, to firm up her mandate over the BREXIT negotiations and timings. Elections in the UK are usually held in Spring or Autumn. Dissolving Parliament takes 25-30 days, could she hold an election in March 2017? Yes; she could; and rule nothing out about having an election in March 2017, with the mandate to trigger Article 50 by the end of the month.\r\n\r\nMy fear about all of this is that if parliament gets too much debating time over BREXIT negotiations, this weakens the UK exit negotiating team’s abilities in the negotiating process. All this stuff about HARD BREXIT or SOFT BREXIT is all bollo**s in my opinion, you are either in or out, the process may be straightforward but both sides want the best deal for them for basic and very obvious reasons.\r\n<ul>\r\n 	<li>EUROPEAN UNION – does not want the UK to cherry pick, because this will cause a CONTAGION effect.</li>\r\n 	<li>UK – wants border controls and the London Financial hub to remain as is.</li>\r\n</ul>\r\nHaving a huge debate in Parliament is like (from the wild west days) “Selling guns to the Indians”. All the UK lines in the sand will be out there in the media and in front of the European union negotiating teams. This is going to result in the UK being on the back foot during negotiating and elevates the position of the European Union negotiating team.\r\n\r\nWe are as traders guaranteed more uncertainty and frankly I am still of the opinion to sell the rips in cable, my views on this have not changed. So, with BREXIT being the decision of the people…my arse it was….so far what was a clear vote has caused nothing but uncertainties.\r\n\r\nMoving on….\r\n\r\nAt his latest Press Conference, this time the BOE Inflation Report, Carney did the usual, now customary, re-jigging of growth numbers that take place at practically every Central Bank press conference, regardless of location in the world. However, Carney was projecting upwards revisions rather than downwards. I had a nose bleed when I saw the numbers.\r\n\r\nDespite all the gloom and doom from the “REMAIN” campaigners the UK economy so far has been extremely resilient. Carney moved revised upwards the GBP projections from this quarter through to 2018. Although let’s be clear higher CPi numbers comes from, in the main, the weaker currency moves in sterling.\r\n\r\nThe two events combined created a nice spike, to sell into in my opinion. Nothing has FUNDAMENTALLY changed when you look at all things. The big issue that Carney has to consider moving forward is that with regards to inward investment into the UK. He has to strike a balance between inflation potentials and interest rates to ensure that investment continues to come through.\r\n\r\nThose pundits / analysts calling for rate hikes next year are a little premature in my opinion. There is a lot of water due to flow under the bridge before the subject of interest rate hikes should be contemplated never mind discussed.\r\n\r\nFOMC STATEMENT:\r\n\r\nA non-event. I would however point out that there was a line in the statement that called for more improvement in data. The UBER DOVE… Janet Yellen may use this as a way to hold off further on increasing rates.\r\n\r\nI have written several times stating that it is so easy to be DOVE and much harder to be a HAWK.\r\n\r\nI believe that Janet Yellen has displayed so much hesitancy in her time a FED chair, that she is a ditherer. God only knows what will happen in December if the lost awaited heavily anticipated and predicted interest rate hike does not happen.\r\n\r\nTHE U.S. PRESIDENTIAL ELECTION:\r\n\r\nI eluded to this earlier in the blog. THE TRUMP effect is in play. The USD/MXN is the TRUMP TRADE. If you believe that TRUMP will be elected president, go long this pair. If you believe it will be HILLARY send her an email with the heading CLASSIFIED and go short the USD/MXN.\r\n\r\nAs numerous polls are released the USD/MXN reacts based upon who is out in front. The USD/MXN is up and down more time than a pair of prostitute’s knickers.\r\n\r\nNot only is the USD/MXN directly affected with wild swings it all spills over the DXY and a flight to safety trade with both the JPY and CHF. I am certain that Thomas Jordan at the SNB is not a happy puppy about all of this volatile price action.\r\n\r\nLess than a week to go. Then we can trade on reality…whatever form that will be!!\r\n\r\nOPEC – PRODUCTION CUTS:\r\n\r\nAs I have written over and over. There is an oil glut. There is a massive miss between supply and demand.\r\n\r\nFrankly oil has had its day. The self-serving countries that formed the cartel OPEC have never agreed on a damn thing from day one unless oil prices have been rising. To have a production cut or freeze frankly in an environment where this cannot be checked is a joke.\r\n\r\nOPEC released a glibly worded agreement (verbally) to have the I’s dotted and t’s crossed at the end of November 2016. They had to do something after the Algiers meeting. In my opinion had they done nothing, the price of oil was once doomed to move lower to $30.00. They bought themselves some time, which appears to have backfired. They gave the waiting press a bulls*t statement, which, of course, the markets bought and oil rallied through $50.00, which, it could not sustain.\r\n\r\nA statement from the Saudis in response to an Iranian release that they would not freeze output was announced, basically it was along the lines of “If you don\'t freeze we will pump like feck… it was allegedly not made and was withdrawn.  If it wasn\'t made how do you withdraw it?\r\n\r\nDraw your own conclusions, as I see it…\r\n\r\nWe now get closer to placing one’s testicles on the chopping board and nobody wants to be a born again soprano. The Iranians want to “pump baby pump” and raise the digit to its OPEC “friends!”. The Saudi in retaliation threaten to fill the worlds bathtubs with cheap oil, they would pump 36 hours a day if they could!!\r\n\r\nAnd there you have it - a collection of self-serving oil producers who are solely focused on themselves. They say one thing and do the opposite. Even if they said there was a freeze in production, who knows if they are telling the truth. They are as manipulative as the market players in that market. We can see that from basic economic supply and demand curves.\r\n\r\nThe obvious trades after the election are long USD/CAD, USD/NOK and dare I say it USD/MXN.\r\n\r\nU.S. NON FARM PAYROLLS:\r\n\r\nA non-event. It was completely over shadowed by the U.S. election news.  We just bounced around.\r\n\r\n<strong> </strong>\r\n\r\n<strong> </strong>\r\n<ol start=\"4\">\r\n 	<li><strong> LOOKING FORWARDS:</strong><strong> </strong></li>\r\n</ol>\r\n<strong>THIS WEEK’S FOREX and ECONOMIC NEWS – MY VIEWS:</strong><strong> </strong>\r\n\r\n<u>THIS WEEK’S FOREX NEWS THAT INTERESTS ME:</u>\r\n\r\n(There are many more news items related to the Forex Market other than the ones listed below. These are the ones that interest me. You can go to <a href=\"http://www.forexfactory.com\">www.forexfactory.com</a> and <a href=\"http://www.tradingeconomics.com\">www.tradingeconomics.com</a> for a more comprehensive lists of all news events that are Forex related).\r\n\r\nSUNDAY: N/A.\r\n\r\nMONDAY: CNY – Trade Balance.\r\n\r\nTUESDAY: USD – Presidential Election.\r\n\r\nWEDNESDAY: NZD – RBNZ Rate Statement and Press Conference.\r\n\r\nTHURSDAY: N/A.\r\n\r\nFRIDAY: CAD – BOC Governor Poloz speaks.\r\n\r\n<strong> </strong>\r\n\r\nThere is not an abundance of news items this week.\r\n\r\nThe big ones in my opinion that I will be very interested in are: -\r\n<ul>\r\n 	<li>U.S. Presidential Election.</li>\r\n 	<li>NZD – RBNZ Rate Statement and Press Conference.</li>\r\n</ul>\r\nWe must also bear in mind that the BREXIT will continue to offer volatility moving forward given the high court ruling on article 50.  I would not be surprised to see EUROZONE players getting involved in the media sound-bytes, plus we are now in the same month as the alleged proposed OPEC OIL production cut, this should also start to weigh in\r\n\r\n<u> </u>\r\n\r\n<u>FOREX TRADING IN GENERAL TERMS THIS WEEK:</u>\r\n\r\nIt’s all about the U.S. election. I would be keeping clear of the USD as much as possible until the results are in.\r\n\r\nThe thought process is that with a HILLARY victory the stock market would move up for a day or two and with the TRUMP collapse due to uncertainty. Basically unless you have core positions that you are trading and you have clearly set out your trading parameters the less RISK approach is to wait.\r\n\r\nI had looked at trading some cross rates in the run up to the election and this did not fair too well for me so I think the prudent approach all around it to wait.\r\n\r\nJust remember, it could be very difficult to get into trades when / if the markets are chopping around as results come in. You have to be really careful in any chop fest. If you recall it was extremely difficult to enter new trades during the BREXIT results. I see this being exactly the same.\r\n\r\nIt’s risky to get in ahead of the results and very risky as well when the results are coming in even if you could get into your account to trade.\r\n\r\nFor those of you who trade with FXCM good luck. They will freeze to protect themselves, not you the trader. They froze you out for over four hours on the EUR/CHF PEG removal and a little less as I understand it on BREXIT referendum. I would expect more of the same with them, why would they change?\r\n\r\nIf you are sidelined, you may not be able to access your account until the result is confirmed. Remember, margin levels have been increased or about to be increased by many brokers.\r\n\r\nBottom line just be careful. Very small position sizes if you have to participate.\r\n\r\n<u> </u>\r\n\r\n<u>THIS COMING WEEK - THE USD MAJORS (MY THOUGHTS): </u>\r\n\r\n(In this section I have as usual kept my charts as minimalist as possible. With regards to charting in my opinion less is more!! I hope that they are clear. All readers regardless of level of experience should be able to follow my thoughts from my comments to the levels on the charts with ease)\r\n\r\nMy comments are contained on the charts.\r\n\r\nEUR/USD - Weekly Closing Price: 1.1138\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/EURUSD-DAILY-05112016.png\"><img class=\"aligncenter size-large wp-image-8599\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/EURUSD-DAILY-05112016-1024x477.png\" alt=\"eurusd-daily-05112016\" width=\"1024\" height=\"477\" /></a>\r\n\r\nGBP/USD - Weekly Closing Price: 1.2515\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/GBPUSD-DAILY-05112016.png\"><img class=\"aligncenter size-large wp-image-8600\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/GBPUSD-DAILY-05112016-1024x477.png\" alt=\"gbpusd-daily-05112016\" width=\"1024\" height=\"477\" /></a>\r\n\r\nAUD/USD - Weekly Closing Price: 0.7670\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/AUDUSD-DAILY-05112016.png\"><img class=\"aligncenter size-large wp-image-8598\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/AUDUSD-DAILY-05112016-1024x477.png\" alt=\"audusd-daily-05112016\" width=\"1024\" height=\"477\" /></a>\r\n\r\nNZD/USD - Weekly Closing Price: 0.7323\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/NZDUSD-DAILY-05112016.png\"><img class=\"aligncenter size-large wp-image-8601\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/NZDUSD-DAILY-05112016-1024x477.png\" alt=\"nzdusd-daily-05112016\" width=\"1024\" height=\"477\" /></a>\r\n\r\nUSD/CAD - Weekly Closing Price: 1.3399\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/USDCAD-DAILY-05112016.png\"><img class=\"aligncenter size-large wp-image-8602\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/USDCAD-DAILY-05112016-1024x477.png\" alt=\"usdcad-daily-05112016\" width=\"1024\" height=\"477\" /></a>\r\n\r\nUSD/CHF - Weekly Closing Price: 0.9679\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/USDCHF-DAILY-05112016.png\"><img class=\"aligncenter size-large wp-image-8603\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/USDCHF-DAILY-05112016-1024x477.png\" alt=\"usdchf-daily-05112016\" width=\"1024\" height=\"477\" /></a>\r\n\r\nUSD/JPY - Weekly Closing Price: 103.09\r\n\r\n<u><a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/USDJPY-DAILY-05112016.png\"><img class=\"aligncenter size-large wp-image-8604\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/USDJPY-DAILY-05112016-1024x477.png\" alt=\"usdjpy-daily-05112016\" width=\"1024\" height=\"477\" /></a></u>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n<u>THIS COMING WEEK - THE NON-USD MAJORS PAIRS (MY THOUGHTS):</u>\r\n\r\nI tried trading some cross-rates last week with little success at all. The polls showing TRUMP catching up with HILLARY created havoc across the board.\r\n\r\nAs I have stated already the prudent approach is to wait until after the votes are counted and a winner is declared. Then it’s all about RISK ON or RISK OFF moving forward.\r\n\r\n<strong> </strong>\r\n<ol start=\"5\">\r\n 	<li><strong> PREMIUM SERVICE SUBSCRIBER EXCLUSIVE CONTENT AREA:</strong></li>\r\n</ol>\r\nTRADING REVIEW:\r\n\r\nI was too fast into some trades last week and paid the prices with a start to the week of a negative 300 pips.\r\n\r\nIt is a marathon not a 60 metre dash therefore I will take my time recovering this loss. Losses are a part of trading, I hate them as much as the next trader but it’s all about moving on and remaining positive.\r\n\r\nI now have more core trades in play.: -\r\n\r\nAUD/NZD: – this trade will spill over to 2017 and looking at the way the NZD is behaving right now it could be 2018 as well! My goals have not altered. We have a 61.8% retracement barrier of the last pullback at 1.0700. Basically, I took profits two weeks ago and have re-loaded on the retracement back to 1.0500.  We could fall as low as 1.0420 before bouncing.\r\n\r\nNZD/USD: – I am still bearish the Kiwi longer-term. My POSITION TRADEs for this pair are really small. I will hold through the election result but will probably bump up the stop loss levels to allow for any wild swings.\r\n\r\nCentral bank policy divergence is still a factor albeit not mentioned much in the past and this alone will bring the NZD lower over time.\r\n\r\nBREXIT: - I have my trades short cable in place. As I keep saying over and over, nothing has fundamentally changed. BREXIT is still happening; it is now just the pace of the exit which is being called into question. The more uncertainty the better as far as I am concerned. This helps short side trading. I still believe whilst below 1.2800 we are BEARISH. I also still believe that 1.2000 has a big arrow pointing to it on the walls inside most bank trading rooms. We certainly have to re-test the 1.2080 lows.\r\n\r\nThis is still a sell the rips trade.\r\n\r\n&nbsp;\r\n\r\nU.S. PRESIDENTIAL ELECTION – MY POSSIBLE TRADES:\r\n\r\nNot mentioned in the general blog, I now have my short GBP/CHF trade in play.\r\n\r\nAs mentioned earlier, the flight to safety with the CHF is on. The GBP/CHF is naturally under pressure at the moment with cable trading heavy. This creates a double whammy on the GBP/CHF.\r\n\r\nI know many people are looking at the USD/MXN as the TRUMP proxy trade and I understand why. My thoughts however are away from USD denominated pairs. I am tempted to set up a trade but I need to think hard about this one.\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n“ANTOINE’S” U.S. ELECTION ARMAGEDDON TRADES:\r\n\r\nI do not usually single out subscribers. However, the emails I received from Antoine, whilst incredibly funny about trading the U.S. election, Antoine made a valid point primarily aimed at the EUR/CHF and its reaction to the BREXIT vote and, it got me thinking.\r\n\r\nBasically as you know, I have core positions that I want to protect against illiquid spikes and dips. I will post any LIVE trade amendments to these on Monday.\r\n\r\nBelow is my ARMEGEDDON spreadsheet. These are based upon a trend resumption. I will probably NOT be trading these but these are levels that “Rips ‘n Dips” could be sold into or scooped up.\r\n\r\nIf I do jump in on these, you guys will be the first to know about it after my broker. Remember, this could all be a non-event as we may not have broker access due to volatility.\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/US-ELECTION-ARMAGEDDON-TRADES-.png\"><img class=\"aligncenter size-large wp-image-8596\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/US-ELECTION-ARMAGEDDON-TRADES--762x1024.png\" alt=\"us-election-armageddon-trades\" width=\"762\" height=\"1024\" /></a>\r\n\r\n&nbsp;\r\n\r\nIf you take any of these and make $$$ please let me know. If you lose $$$ please blame Antoine!! – just kidding, the buck always stops with me.\r\n\r\n&nbsp;\r\n\r\nADDITIONAL BROKER ACCOUNTS:\r\n\r\nAs we get nearer to the end of 2016, if any of you are considering adding an additional broker or two to keep PREMIUM SERVICE trades separate or maybe break down into TRADE STYLES, please note that the deals, offers etc. that brokers will be using to attract new clients will intensify.\r\n\r\nIf you are considering such a move please contact me so I can advise which of my brokers on my landing page are offering what.\r\n\r\nVANTAGE FX for example are charging nothing to deposit money into your broker account, whether the transfer in is by credit card or via bank transfer. My account manager David Bily is probably one of the best account managers that I have come across. VANTAGE FX also gives you an edge with 5PM eastern NZD news.\r\n\r\n&nbsp;\r\n\r\nPERISCOPE (UPDATE):\r\n\r\nMy replacement microphone from Amazon should be at the post office to collect, but it is NOT there yet. Well done Canada Post.\r\n\r\nPERISCOPE PROPOSAL - My proposal is initially to do a 30-minute presentation on a Monday afternoon my time about 2PM EST. I can be totally flexible with this time. If anyone wants to have a PERISCOPE session and this time is difficult please advise so I can review.\r\n\r\n<strong> </strong>\r\n\r\n<strong>TRADES REVIEW:</strong>\r\n\r\nThe excel spreadsheets below details current LIVE and pending LIMIT ORDER trades: -\r\n\r\n<u><a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/LIVE-TRADES-05112016.png\"><img class=\"aligncenter size-large wp-image-8595\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/LIVE-TRADES-05112016-787x1024.png\" alt=\"live-trades-05112016\" width=\"787\" height=\"1024\" /></a></u>\r\n\r\n<u> </u>\r\n\r\n<u><a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/LIMIT-ORDERS-05112016.png\"><img class=\"aligncenter size-large wp-image-8594\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/LIMIT-ORDERS-05112016-722x1024.png\" alt=\"limit-orders-05112016\" width=\"722\" height=\"1024\" /></a></u>\r\n<ol start=\"6\">\r\n 	<li><strong> MY CLOSING THOUGHTS:</strong></li>\r\n</ol>\r\nThe sword of Damocles hangs over the market at the moment. Basically we are on hold until we see if THE DONALD or HILLARY are pronounced victors.\r\n\r\nThe zero risk option is to be 100% flat with trades. I have a couple of core positions that I am trading at the moment, they are not full size and one core position does not involve the USD currency.\r\n\r\nI have a feeling that additional BREXIT fallout will be hitting the markets at the same time as the U.S. election results. The cynic in me says if you are going to release really big news do at the time of a major geopolitical event. We have news on the horizon relating to BREXIT, no better time than Tuesday night, better still market open Wednesday to do it.\r\n\r\nThe one thing I do see is a great deal of volatility.\r\n\r\nTherefore, if you want zero RISK; if you just want to sit back and observe I would say that Wednesday / Thursday next week would be the time to re-establish LIVE positions.\r\n\r\nIf you are going to trade, expect a chop fest. Do not get suckered into believing the market is moving strongly in one direction. It can and does change in an instant.\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,\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: #118 - PREMIUM SERVICE\r\nDATE: 5<sup>th</sup> November 2016.\r\n\r\n&nbsp;','BREXIT - “IT’S YOUR DECISION…” YEAH RIGHT!','','publish','open','closed','','brexit-decision-yeah-right','','','2016-11-05 16:18:01','2016-11-05 21:18:01','',0,'http://weeklyfxdrivethru.com/?post_type=member_posts&#038;p=8605',0,'member_posts','',0),(8606,1,'2016-11-05 16:15:18','2016-11-05 21:15:18','<strong> </strong>\r\n<ol>\r\n 	<li><strong> INTRODUCTION:</strong></li>\r\n</ol>\r\nI was going to make the title of this week’s blog something relevant to the U.S. Presidential election.\r\n\r\nOn Friday last week, CNN posted a poll stating that 83% of eligible Americans who can vote were disgusted with the way the Presidential campaigns were run.\r\n\r\nSo to all American readers….\r\n\r\nPlease, get out there and…\r\n\r\n<strong>VOTE FOR YOUR LEAST HATED CANDIDATE\r\n</strong>\r\n\r\nand let’s get the news cycle changed, please I am begging you!!\r\n\r\n&nbsp;\r\n\r\nMoving on…\r\n\r\nLast week was a very busy week for news items.\r\n\r\nI made an elementary mistake early in the week that I paid the ultimate price for. Even though I was aware of the geopolitical events on the horizon coupled with a packed economic calendar, I went into long USD trades too early, although not too aggressively. I took some hits, which has set me back a little.\r\n\r\nI was also caught off my guard with the U.S. opinion polls, from which, I took my trades expecting a bounce in the DXY but the flight to safety surrounding the possible TRUMP election victory took me for 300 pips. I felt somewhat like a lamb to the slaughter. However, as I have written about several times in this blog it’s NOT about how you fall down, it’s more about how you get back up!\r\n\r\nLooking ahead…\r\n\r\nI am a huge believer in having a TRADE PLAN and then actually trying to TRADE YOUR PLAN. You will read in many places a phrase PLAN YOUR TRADES and TRADE YOUR PLAN. I believe 100% with this approach to Forex. When I go into big news items I will have my plan in mind, as I need to know what way I am going to play the news, if it is my intention to trade the news. On many occasions I stay sidelined. I have moved more and more to trading with a longer-term perspective and to be effective with this type of trading you have to be able for the most part to sit through news releases. There are from time to time exceptions but for the main part my trades are there longer term.\r\n\r\nThis was not how I approached trading Forex in 2015 and definitely not my approach in 2014. Why am I writing about this?\r\n\r\nBasically because I have just completed my October 2016 PREMIUM SERVICE performance, and updated all areas on my website whether open to all or the restricted areas open only to my PREMIUM SERVICE subscribers.\r\n\r\n2016 was a very different year and looking back on what I wrote in late December 2015 and early 2016 in my DRIVE THRU blogs the year has panned out almost 180 degrees away from what I expected.\r\n\r\nThe PREMIUM SERVICE performance has been fantastic (there’s nothing like self-praise) when I review the year so far\r\n\r\nI am planning 2017 at the moment. I am looking at everything that I do with my business from the day to day to the macro level.\r\n\r\nFrom this week until the end of this year, Section 2 of the blog will be extended to show greater detail of the PREMIUM SERVICE returns. I am hoping that non-subscribers will find this additional information beneficial and convince them that they are missing out and subscribe.\r\n\r\nDo not forget…\r\n\r\nJust a quick reminder; each month, I am giving away a FREE PREMIUM SERVICE 4-week subscription. This gives the winner 100% access to the PREMIUM SERVICE website and ALL my PREMIUM SERVICE communications from my suggested trade set-ups to market commentaries and my thoughts.\r\n\r\nTo stand a chance of being the next subscription winner, you need to subscribe to receive this free blog via my website <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a><strong>  </strong><strong> </strong>\r\n\r\nYou are automatically entered into a free monthly draw, once you’ve subscribed. Each month one lucky blog subscriber will receive a free subscription to the PREMIUM SERVICE.\r\n\r\n<strong> </strong>\r\n<ol start=\"2\">\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 the various trade styles plus 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 credit card.\r\n\r\n<u>PREMIUM SERVICE SUBSCRIPTION COSTS:</u>\r\n\r\nDetails of features and benefits of a PREMIUM SERVICE subscription can be found on my website landing page at <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a> under the dropdown tab at the top of the page entitled HISTORY &amp; PERFORMANCE OF THE PREMIUM SERVICE. To subscribe follow the SUBSCRIBE HERE tab.\r\n\r\nPREMIUM SERVICE subscription costs are as follows: -\r\n\r\nCAD$240.00 - 4 weeks (1 month)\r\nCAD$500.00 - 10 weeks (3 months)\r\nCAD$750.00 - 20 weeks (6 months)CAD$1,250.00 - 40 weeks (12 months)\r\n<u>PLUS</u>: Existing PLATINUM MEMBERS (annual subscribers) can re-subscribe for a further 12 months for CAD$1,000.00\r\n\r\nI work for about 40 weeks a year. Subscriptions are based on 40 published blogs of the WEEKLY FX DRIVE THRU per year. For the remaining 10 weeks, I am around tweeting, posting and managing existing LIVE trades, although my market activity is reduced.\r\n\r\n<u>PREMIUM SERVICE PERFORMANCE:</u>\r\n\r\nPRESENT AND HISTORICAL QUICK PREMIUM SERVICE STATS:\r\n\r\nOCTOBER 2016\r\nNET PIPS OCTOBER:        +2,633 pips\r\nNET PIPS 2016 END OF OCTOBER:      +11,618 pips\r\n\r\nTHIS MONTH SO FAR TO 05.11.2016: -194 pips\r\nYEAR TO DATE TOTAL: +11,424 pips\r\n\r\nNET PIPS 2015:       +10,686 pips\r\nNET PIPS 2014:       +11,209 pips\r\n\r\nBelow, for additional information on the past and current trading I include excel spreadsheets detailing the overviews of the PREMIUM SERVICE performance.\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/PREM-SERV-NET-PROFITS-2014.png\"><img class=\"aligncenter size-full wp-image-8587\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/PREM-SERV-NET-PROFITS-2014.png\" alt=\"prem-serv-net-profits-2014\" width=\"1012\" height=\"838\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/PREM-SERV-NET-PROFITS-2015.png\"><img class=\"aligncenter size-full wp-image-8588\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/PREM-SERV-NET-PROFITS-2015.png\" alt=\"prem-serv-net-profits-2015\" width=\"1010\" height=\"872\" /></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/2016/11/PREM-SERV-NET-PROFITS-2016.png\"><img class=\"aligncenter size-large wp-image-8597\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/PREM-SERV-NET-PROFITS-2016-925x1024.png\" alt=\"prem-serv-net-profits-2016\" width=\"925\" height=\"1024\" /></a>\r\n\r\n&nbsp;\r\n\r\nPART-TIME TRADER (POSITION) TRADES:\r\n\r\nAt the end of 2015, having listened to many of my subscribers and from a market survey that I undertook, I wanted to try and address those Forex traders who would consider themselves to be a PART-TIME trader for whatever reason.\r\n\r\nPART-TIME FOREX TRADERS fall between a rock and a hard place.  It is very, very difficult with limited access to computers due to full-time employment or limited access to a computer due time constraints, to have a voice when trading.\r\n\r\nNow more than ever you really need to be 24 x 5 with your devices to keep on top of things.\r\n\r\nI wanted to try and find a trading solution for PART-TIME TRADERS.\r\n\r\nLet me be the first to say, my solution is not 100% perfect. You can put lipstick on a pig but it’s still a pig, if you understand me. This is not an easy fix. But I wanted to try, and to be honest, timing in Forex is everything.\r\n\r\nMy initial solution, and it is on-going, has been my savior to my trading performance this year so far, with just 6/7 weeks left to go.\r\n\r\nI introduced PART-TIME TRADER TRADES now called POSITION TRADES at the start of 2016. This trading style is based upon my FUNDAMENTAL longer-term market views. These trades are LIMIT ORDER entry trades with very wide stops based on ATR (Average True Range) limits, mostly weekly limits, but sometimes monthly limits, using Fibonacci levels and trend lines to set stops and limits.\r\n\r\nThey have been, due to the way that the Forex market has been held to ransom inside tight trading ranges for most of the year, creating very choppy market conditions very successful.\r\n\r\nI am NOT saying that these trades and the way I trade them because I still have to assess trades all the time and close off trades early etc.… are the “B all and end all” holy grail for PART-TIME TRADERS but they are a step in the right direction.\r\n\r\nThese trades also suit FULL-TIME traders who want to take a longer-term perspective.\r\n\r\nHow successful have they been?\r\n\r\nHow do I measure their success?\r\n\r\nVery simply, when launching these trades, a year ago I created a page on my website landing page at <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a> called PART TIME FOREX TRADERS it is part of my drop down menu at the top of my landing page.\r\n\r\nI tried my best to define my target audience and I posted a cash flow projection, it is still there today and I have subsequently added quarterly reviews during the year.\r\n\r\nBelow is the initial cash flow projection that was posted the first week of January 2016.\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/POS-TRADES-CASHFLOW-JAN16.png\"><img class=\"aligncenter size-large wp-image-8590\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/POS-TRADES-CASHFLOW-JAN16-808x1024.png\" alt=\"pos-trades-cashflow-jan16\" width=\"808\" height=\"1024\" /></a>\r\n\r\nI am not going to spend a great deal of time on this. Basically for the purpose of this section of the DRIVE THRU blog will focus solely on MINI LOT traders.\r\n\r\nMy suggestion on day 1, was to open a broker account with USD$7,500. At the end of the year based only on single lot trades after costs to trade and my PREMIUM SERVICE annual subscription my goal was to grow the broker account from USD$7,500 to $15,052.50 by the end of 2016.\r\n\r\n<span style=\"color: #0000ff;\"><strong><u>That would be to double your initial investment after ALL costs were accounted for.</u></strong></span>\r\n\r\nHow have I faired with this quest?\r\n\r\nBelow is the spreadsheet update post I made to my website on the 31<sup>st</sup> March 2016. Three months after the launch.\r\n\r\n<strong> <a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/POS-TRADES-CASHFLOW-MARCH16.png\"><img class=\"aligncenter size-large wp-image-8591\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/POS-TRADES-CASHFLOW-MARCH16-1024x864.png\" alt=\"pos-trades-cashflow-march16\" width=\"1024\" height=\"864\" /></a></strong>\r\n\r\nAs you can see the initial USD$7.500.00 now stood at USD$9,655.00 after ALL costs were accounted for.\r\n\r\nBelow is the spreadsheet update added to my drop down menu and posted on July 11<sup>th</sup> 2016.<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/POS-TRADES-CASHFLOW-JUNE16.png\"><img class=\"aligncenter size-large wp-image-8592\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/POS-TRADES-CASHFLOW-JUNE16-1024x806.png\" alt=\"pos-trades-cashflow-june16\" width=\"1024\" height=\"806\" /></a>\r\n\r\nAs you can now further profits were added and the position at the end of June was USD$11,723.00. Again this is the net position after all costs have been taken into consideration.\r\n\r\nBelow is the update posted on 31<sup>st</sup> October 2016.\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/POS-TRADES-CASHFLOW-OCT16.png\"><img class=\"aligncenter size-large wp-image-8593\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/POS-TRADES-CASHFLOW-OCT16-1024x792.png\" alt=\"pos-trades-cashflow-oct16\" width=\"1024\" height=\"792\" /></a>\r\n\r\nAt the end of last month, the cumulative position now shows that the original account with USD$7,500 now stands at net USD$13,868.00.\r\n\r\nThere is just under USD$1,200 in income left to achieve (1,200 pips over the months of November and December). It is a tall order.\r\n\r\nThere are more comments regarding the performance on my website under THE PART TIME TRADERS drop down menu.\r\n\r\nWhat about my macro thoughts on the performance of the POSITION TRADES?\r\n\r\nMy thoughts are very straightforward: -\r\n<ol>\r\n 	<li>This (2016) has been an extremely difficult year to trade in.</li>\r\n 	<li>My approach to trading this year has been almost a 180 degree turn on 2015 trading.</li>\r\n 	<li>Features and factors that prompted me to start this trading style, namely central bank diversification never became as big of an issue as I thought it would have been. I had to re-focus and adapt the POSITION trade set ups to compensate for this.</li>\r\n 	<li>This review of style, manifested itself in the facts that my projection was for just 90 trades in the year. So far I have completed 146 trades (more than 50% more than anticipated). My profits per trade are less and my losses per trade are well under projection.</li>\r\n 	<li>I am, given the above points 1-4, delighted to have achieved this performance so far.</li>\r\n 	<li>Have I delivered what I set out for PART-TIME traders? Not 100%. I have delivered profits but the timings for closing of trades is still an issue. I cannot let losses grow or profits diminish due to a trading style. I have to 100% trade the price action in the market as I see it.</li>\r\n 	<li>What about 2017?\r\n\r\nI will continue this trading style next year, but I will review my other trading styles. It is impossible to predict what type of a trading year 2017 will be, apart from the fact it contains 365 days and that there will always be a forex market every day the market is open.</li>\r\n</ol>\r\nIf you would like additional supporting data or detail about the performance and the tabs on my website landing page at <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a> do not answer your questions, contact me directly and I will supply the trading data you require. There are NO secrets. There are many, many spreadsheets detailing performance trade by trade and by trade and by trading style, way too many to place in this blog. If you are interested in the PREMIUM SERVICE and want more information, all you have to do is ask.\r\n\r\n<strong> </strong>\r\n<ol start=\"3\">\r\n 	<li><strong> LOOKING BACKWARDS: THE FX MARKET PLACE</strong></li>\r\n</ol>\r\n<strong>LAST WEEK’S FOREX and ECONOMIC NEWS – MY VIEWS:</strong>\r\n\r\nUK BREXIT HIGH COURT RULING &amp; BOE INFLATION REPORT:\r\n\r\nHoly crap.\r\n\r\nI totally get the high court’s reasoning behind parliament needing an agreement to trigger article 50. However, one would have thought given the fact that all along David Cameron (ex. UK Prime Minister) and Theresa May (current Prime Minister) have both stated that it was in the UK governments power alone to trigger article 50, that the legal “johnnies” would have given Cameron a legal opinion on this matter prior to the voting slips being printed?\r\n\r\nOr did Cameron enter the referendum believing all was well in blighty… well it may have been in central London and no legal opinion was sought, did he believe that it was a slam dunk REMAIN victory?\r\n\r\nWhat emanates out of this court ruling is yet more uncertainty. The appeal against this decision will be heard the first week of December and ruled upon then.\r\n\r\nI would love an audience with Cameron and May to ask them a few questions about this process.\r\n\r\nThe referendum voting slip said: -\r\n\r\n<strong>“This is your decision. The Government will implement what you decide”</strong>\r\n\r\nThe Supreme court could go either way on the high court ruling.\r\n\r\nAt the end of the day, let’s say Parliament has to vote. MP’s in fear of not being elected next time around, would be one brick from a full load if they did NOT vote in line with their constituents wishes from the BREXIT vote last June. If it’s just a vote, this is politics, the MP’s will vote in line with the people who elected them to represent their wishes.\r\n\r\nIn my opinion, it all depends on the wording of the paper put before the MP’s to vote on. It will end up being so vague to ensure an agreement between the House of Commons and the popular vote last June.\r\n\r\nThen we move on…. here’s a thought!\r\n\r\nTheresa May might call a snap general election, to firm up her mandate over the BREXIT negotiations and timings. Elections in the UK are usually held in Spring or Autumn. Dissolving Parliament takes 25-30 days, could she hold an election in March 2017? Yes; she could; and rule nothing out about having an election in March 2017, with the mandate to trigger Article 50 by the end of the month.\r\n\r\nMy fear about all of this is that if parliament gets too much debating time over BREXIT negotiations, this weakens the UK exit negotiating team’s abilities in the negotiating process. All this stuff about HARD BREXIT or SOFT BREXIT is all bollo**s in my opinion, you are either in or out, the process may be straightforward but both sides want the best deal for them for basic and very obvious reasons.\r\n<ul>\r\n 	<li>EUROPEAN UNION – does not want the UK to cherry pick, because this will cause a CONTAGION effect.</li>\r\n 	<li>UK – wants border controls and the London Financial hub to remain as is.</li>\r\n</ul>\r\nHaving a huge debate in Parliament is like (from the wild west days) “Selling guns to the Indians”. All the UK lines in the sand will be out there in the media and in front of the European union negotiating teams. This is going to result in the UK being on the back foot during negotiating and elevates the position of the European Union negotiating team.\r\n\r\nWe are as traders guaranteed more uncertainty and frankly I am still of the opinion to sell the rips in cable, my views on this have not changed. So, with BREXIT being the decision of the people…my arse it was….so far what was a clear vote has caused nothing but uncertainties.\r\n\r\nMoving on….\r\n\r\nAt his latest Press Conference, this time the BOE Inflation Report, Carney did the usual, now customary, re-jigging of growth numbers that take place at practically every Central Bank press conference, regardless of location in the world. However, Carney was projecting upwards revisions rather than downwards. I had a nose bleed when I saw the numbers.\r\n\r\nDespite all the gloom and doom from the “REMAIN” campaigners the UK economy so far has been extremely resilient. Carney moved revised upwards the GBP projections from this quarter through to 2018. Although let’s be clear higher CPi numbers comes from, in the main, the weaker currency moves in sterling.\r\n\r\nThe two events combined created a nice spike, to sell into in my opinion. Nothing has FUNDAMENTALLY changed when you look at all things. The big issue that Carney has to consider moving forward is that with regards to inward investment into the UK. He has to strike a balance between inflation potentials and interest rates to ensure that investment continues to come through.\r\n\r\nThose pundits / analysts calling for rate hikes next year are a little premature in my opinion. There is a lot of water due to flow under the bridge before the subject of interest rate hikes should be contemplated never mind discussed.\r\n\r\nFOMC STATEMENT:\r\n\r\nA non-event. I would however point out that there was a line in the statement that called for more improvement in data. The UBER DOVE… Janet Yellen may use this as a way to hold off further on increasing rates.\r\n\r\nI have written several times stating that it is so easy to be DOVE and much harder to be a HAWK.\r\n\r\nI believe that Janet Yellen has displayed so much hesitancy in her time a FED chair, that she is a ditherer. God only knows what will happen in December if the lost awaited heavily anticipated and predicted interest rate hike does not happen.\r\n\r\nTHE U.S. PRESIDENTIAL ELECTION:\r\n\r\nI eluded to this earlier in the blog. THE TRUMP effect is in play. The USD/MXN is the TRUMP TRADE. If you believe that TRUMP will be elected president, go long this pair. If you believe it will be HILLARY send her an email with the heading CLASSIFIED and go short the USD/MXN.\r\n\r\nAs numerous polls are released the USD/MXN reacts based upon who is out in front. The USD/MXN is up and down more time than a pair of prostitute’s knickers.\r\n\r\nNot only is the USD/MXN directly affected with wild swings it all spills over the DXY and a flight to safety trade with both the JPY and CHF. I am certain that Thomas Jordan at the SNB is not a happy puppy about all of this volatile price action.\r\n\r\nLess than a week to go. Then we can trade on reality…whatever form that will be!!\r\n\r\nOPEC – PRODUCTION CUTS:\r\n\r\nAs I have written over and over. There is an oil glut. There is a massive miss between supply and demand.\r\n\r\nFrankly oil has had its day. The self-serving countries that formed the cartel OPEC have never agreed on a damn thing from day one unless oil prices have been rising. To have a production cut or freeze frankly in an environment where this cannot be checked is a joke.\r\n\r\nOPEC released a glibly worded agreement (verbally) to have the I’s dotted and t’s crossed at the end of November 2016. They had to do something after the Algiers meeting. In my opinion had they done nothing, the price of oil was once doomed to move lower to $30.00. They bought themselves some time, which appears to have backfired. They gave the waiting press a bulls*t statement, which, of course, the markets bought and oil rallied through $50.00, which, it could not sustain.\r\n\r\nA statement from the Saudis in response to an Iranian release that they would not freeze output was announced, basically it was along the lines of “If you don\'t freeze we will pump like feck… it was allegedly not made and was withdrawn.  If it wasn\'t made how do you withdraw it?\r\n\r\nDraw your own conclusions, as I see it…\r\n\r\nWe now get closer to placing one’s testicles on the chopping board and nobody wants to be a born again soprano. The Iranians want to “pump baby pump” and raise the digit to its OPEC “friends!”. The Saudi in retaliation threaten to fill the worlds bathtubs with cheap oil, they would pump 36 hours a day if they could!!\r\n\r\nAnd there you have it - a collection of self-serving oil producers who are solely focused on themselves. They say one thing and do the opposite. Even if they said there was a freeze in production, who knows if they are telling the truth. They are as manipulative as the market players in that market. We can see that from basic economic supply and demand curves.\r\n\r\nThe obvious trades after the election are long USD/CAD, USD/NOK and dare I say it USD/MXN.\r\n\r\nU.S. NON FARM PAYROLLS:\r\n\r\nA non-event. It was completely over shadowed by the U.S. election news.  We just bounced around.\r\n\r\n<strong> </strong>\r\n\r\n<strong> </strong>\r\n<ol start=\"4\">\r\n 	<li><strong> LOOKING FORWARDS:</strong><strong> </strong></li>\r\n</ol>\r\n<strong>THIS WEEK’S FOREX and ECONOMIC NEWS – MY VIEWS:</strong><strong> </strong>\r\n\r\n<u>THIS WEEK’S FOREX NEWS THAT INTERESTS ME:</u>\r\n\r\n(There are many more news items related to the Forex Market other than the ones listed below. These are the ones that interest me. You can go to <a href=\"http://www.forexfactory.com\">www.forexfactory.com</a> and <a href=\"http://www.tradingeconomics.com\">www.tradingeconomics.com</a> for a more comprehensive lists of all news events that are Forex related).\r\n\r\nSUNDAY: N/A.\r\n\r\nMONDAY: CNY – Trade Balance.\r\n\r\nTUESDAY: USD – Presidential Election.\r\n\r\nWEDNESDAY: NZD – RBNZ Rate Statement and Press Conference.\r\n\r\nTHURSDAY: N/A.\r\n\r\nFRIDAY: CAD – BOC Governor Poloz speaks.\r\n\r\n<strong> </strong>\r\n\r\nThere is not an abundance of news items this week.\r\n\r\nThe big ones in my opinion that I will be very interested in are: -\r\n<ul>\r\n 	<li>U.S. Presidential Election.</li>\r\n 	<li>NZD – RBNZ Rate Statement and Press Conference.</li>\r\n</ul>\r\nWe must also bear in mind that the BREXIT will continue to offer volatility moving forward given the high court ruling on article 50.  I would not be surprised to see EUROZONE players getting involved in the media sound-bytes, plus we are now in the same month as the alleged proposed OPEC OIL production cut, this should also start to weigh in\r\n\r\n<u> </u>\r\n\r\n<u>FOREX TRADING IN GENERAL TERMS THIS WEEK:</u>\r\n\r\nIt’s all about the U.S. election. I would be keeping clear of the USD as much as possible until the results are in.\r\n\r\nThe thought process is that with a HILLARY victory the stock market would move up for a day or two and with the TRUMP collapse due to uncertainty. Basically unless you have core positions that you are trading and you have clearly set out your trading parameters the less RISK approach is to wait.\r\n\r\nI had looked at trading some cross rates in the run up to the election and this did not fair too well for me so I think the prudent approach all around it to wait.\r\n\r\nJust remember, it could be very difficult to get into trades when / if the markets are chopping around as results come in. You have to be really careful in any chop fest. If you recall it was extremely difficult to enter new trades during the BREXIT results. I see this being exactly the same.\r\n\r\nIt’s risky to get in ahead of the results and very risky as well when the results are coming in even if you could get into your account to trade.\r\n\r\nFor those of you who trade with FXCM good luck. They will freeze to protect themselves, not you the trader. They froze you out for over four hours on the EUR/CHF PEG removal and a little less as I understand it on BREXIT referendum. I would expect more of the same with them, why would they change?\r\n\r\nIf you are sidelined, you may not be able to access your account until the result is confirmed. Remember, margin levels have been increased or about to be increased by many brokers.\r\n\r\nBottom line just be careful. Very small position sizes if you have to participate.\r\n\r\n<u> </u>\r\n\r\n<u>THIS COMING WEEK - THE USD MAJORS (MY THOUGHTS): </u>\r\n\r\n(In this section I have as usual kept my charts as minimalist as possible. With regards to charting in my opinion less is more!! I hope that they are clear. All readers regardless of level of experience should be able to follow my thoughts from my comments to the levels on the charts with ease)\r\n\r\nMy comments are contained on the charts.\r\n\r\nEUR/USD - Weekly Closing Price: 1.1138\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/EURUSD-DAILY-05112016.png\"><img class=\"aligncenter size-large wp-image-8599\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/EURUSD-DAILY-05112016-1024x477.png\" alt=\"eurusd-daily-05112016\" width=\"1024\" height=\"477\" /></a>\r\n\r\nGBP/USD - Weekly Closing Price: 1.2515\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/GBPUSD-DAILY-05112016.png\"><img class=\"aligncenter size-large wp-image-8600\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/GBPUSD-DAILY-05112016-1024x477.png\" alt=\"gbpusd-daily-05112016\" width=\"1024\" height=\"477\" /></a>\r\n\r\nAUD/USD - Weekly Closing Price: 0.7670\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/AUDUSD-DAILY-05112016.png\"><img class=\"aligncenter size-large wp-image-8598\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/AUDUSD-DAILY-05112016-1024x477.png\" alt=\"audusd-daily-05112016\" width=\"1024\" height=\"477\" /></a>\r\n\r\nNZD/USD - Weekly Closing Price: 0.7323\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/NZDUSD-DAILY-05112016.png\"><img class=\"aligncenter size-large wp-image-8601\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/NZDUSD-DAILY-05112016-1024x477.png\" alt=\"nzdusd-daily-05112016\" width=\"1024\" height=\"477\" /></a>\r\n\r\nUSD/CAD - Weekly Closing Price: 1.3399\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/USDCAD-DAILY-05112016.png\"><img class=\"aligncenter size-large wp-image-8602\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/USDCAD-DAILY-05112016-1024x477.png\" alt=\"usdcad-daily-05112016\" width=\"1024\" height=\"477\" /></a>\r\n\r\nUSD/CHF - Weekly Closing Price: 0.9679\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/USDCHF-DAILY-05112016.png\"><img class=\"aligncenter size-large wp-image-8603\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/USDCHF-DAILY-05112016-1024x477.png\" alt=\"usdchf-daily-05112016\" width=\"1024\" height=\"477\" /></a>\r\n\r\nUSD/JPY - Weekly Closing Price: 103.09\r\n\r\n<u><a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/USDJPY-DAILY-05112016.png\"><img class=\"aligncenter size-large wp-image-8604\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/USDJPY-DAILY-05112016-1024x477.png\" alt=\"usdjpy-daily-05112016\" width=\"1024\" height=\"477\" /></a></u>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n<u>THIS COMING WEEK - THE NON-USD MAJORS PAIRS (MY THOUGHTS):</u>\r\n\r\nI tried trading some cross-rates last week with little success at all. The polls showing TRUMP catching up with HILLARY created havoc across the board.\r\n\r\nAs I have stated already the prudent approach is to wait until after the votes are counted and a winner is declared. Then it’s all about RISK ON or RISK OFF moving forward.\r\n\r\n<strong> </strong>\r\n<ol start=\"5\">\r\n 	<li><strong> PREMIUM SERVICE SUBSCRIBER EXCLUSIVE CONTENT AREA:</strong></li>\r\n</ol>\r\nTRADING REVIEW:\r\n\r\nI was too fast into some trades last week and paid the prices with a start to the week of a negative 300 pips.\r\n\r\nIt is a marathon not a 60 metre dash therefore I will take my time recovering this loss. Losses are a part of trading, I hate them as much as the next trader but it’s all about moving on and remaining positive.\r\n\r\nI now have more core trades in play.: -\r\n\r\nAUD/NZD: – this trade will spill over to 2017 and looking at the way the NZD is behaving right now it could be 2018 as well! My goals have not altered. We have a 61.8% retracement barrier of the last pullback at 1.0700. Basically, I took profits two weeks ago and have re-loaded on the retracement back to 1.0500.  We could fall as low as 1.0420 before bouncing.\r\n\r\nNZD/USD: – I am still bearish the Kiwi longer-term. My POSITON TRADEs for this pair are really small. I will hold through the election result but will probably bump up the stop loss levels to allow for any wild swings.\r\n\r\nCentral bank policy divergence is still a factor albeit not mentioned much in the past and this alone will bring the NZD lower over time.\r\n\r\nBREXIT: - I have my trades short cable in place. As I keep saying over and over, nothing has fundamentally changed. BREXIT is still happening; it is now just the pace of the exit which is being called into question. The more uncertainty the better as far as I am concerned. This helps short side trading. I still believe whilst below 1.2800 we are BEARISH. I also still believe that 1.2000 has a big arrow pointing to it on the walls inside most bank trading rooms. We certainly have to re-test the 1.2080 lows.\r\n\r\nThis is still a sell the rips trade.\r\n\r\n&nbsp;\r\n\r\nU.S. PRESIDENTIAL ELECTION – MY POSSIBLE TRADES:\r\n\r\nNot mentioned in the general blog, I now have my short GBP/CHF trade in play.\r\n\r\nAs mentioned earlier, the flight to safety with the CHF is on. The GBP/CHF is naturally under pressure at the moment with cable trading heavy. This creates a double whammy on the GBP/CHF.\r\n\r\nI know many people are looking at the USD/MXN as the TRUMP proxy trade and I understand why. My thoughts however are away from USD denominated pairs. I am tempted to set up a trade but I need to think hard about this one.\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n“ANTOINE’S” U.S. ELECTION ARMAGEDDON TRADES:\r\n\r\nI do not usually single out subscribers. However, the emails I received from Antoine, whilst incredibly funny about trading the U.S. election, Antoine made a valid point primarily aimed at the EUR/CHF and its reaction to the BREXIT vote and, it got me thinking.\r\n\r\nBasically as you know, I have core positions that I want to protect against illiquid spikes and dips. I will post any LIVE trade amendments to these on Monday.\r\n\r\nBelow is my ARMEGEDDON spreadsheet. These are based upon a trend resumption. I will probably NOT be trading these but these are levels that “Rips ‘n Dips” could be sold into or scooped up.\r\n\r\nIf I do jump in on these, you guys will be the first to know about it after my broker. Remember, this could all be a non-event as we may not have broker access due to volatility.\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/US-ELECTION-ARMAGEDDON-TRADES-.png\"><img class=\"aligncenter size-large wp-image-8596\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/US-ELECTION-ARMAGEDDON-TRADES--762x1024.png\" alt=\"us-election-armageddon-trades\" width=\"762\" height=\"1024\" /></a>\r\n\r\n&nbsp;\r\n\r\nIf you take any of these and make $$$ please let me know. If you lose $$$ please blame Antoine!! – just kidding, the buck always stops with me.\r\n\r\n&nbsp;\r\n\r\nADDITIONAL BROKER ACCOUNTS:\r\n\r\nAs we get nearer to the end of 2016, if any of you are considering adding an additional broker or two to keep PREMIUM SERVICE trades separate or maybe break down into TRADE STYLES, please note that the deals, offers etc. that brokers will be using to attract new clients will intensify.\r\n\r\nIf you are considering such a move please contact me so I can advise which of my brokers on my landing page are offering what.\r\n\r\nVANTAGE FX for example are charging nothing to deposit money into your broker account, whether the transfer in is by credit card or via bank transfer. My account manager David Bily is probably one of the best account managers that I have come across. VANTAGE FX also gives you an edge with 5PM eastern NZD news.\r\n\r\n&nbsp;\r\n\r\nPERISCOPE (UPDATE):\r\n\r\nMy replacement microphone from Amazon should be at the post office to collect, but it is NOT there yet. Well done Canada Post.\r\n\r\nPERISCOPE PROPOSAL - My proposal is initially to do a 30-minute presentation on a Monday afternoon my time about 2PM EST. I can be totally flexible with this time. If anyone wants to have a PERISCOPE session and this time is difficult please advise so I can review.\r\n\r\n<strong> </strong>\r\n\r\n<strong>TRADES REVIEW:</strong>\r\n\r\nThe excel spreadsheets below details current LIVE and pending LIMIT ORDER trades: -\r\n\r\n<u><a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/LIVE-TRADES-05112016.png\"><img class=\"aligncenter size-large wp-image-8595\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/LIVE-TRADES-05112016-787x1024.png\" alt=\"live-trades-05112016\" width=\"787\" height=\"1024\" /></a></u>\r\n\r\n<u> </u>\r\n\r\n<u><a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/LIMIT-ORDERS-05112016.png\"><img class=\"aligncenter size-large wp-image-8594\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/LIMIT-ORDERS-05112016-722x1024.png\" alt=\"limit-orders-05112016\" width=\"722\" height=\"1024\" /></a></u>\r\n<ol start=\"6\">\r\n 	<li><strong> MY CLOSING THOUGHTS:</strong></li>\r\n</ol>\r\nThe sword of Damocles hangs over the market at the moment. Basically we are on hold until we see if THE DONALD or HILLARY are pronounced victors.\r\n\r\nThe zero risk option is to be 100% flat with trades. I have a couple of core positions that I am trading at the moment, they are not full size and one core position does not involve the USD currency.\r\n\r\nI have a feeling that additional BREXIT fallout will be hitting the markets at the same time as the U.S. election results. The cynic in me says if you are going to release really big news do at the time of a major geopolitical event. We have news on the horizon relating to BREXIT, no better time than Tuesday night, better still market open Wednesday to do it.\r\n\r\nThe one thing I do see is a great deal of volatility.\r\n\r\nTherefore, if you want zero RISK; if you just want to sit back and observe I would say that Wednesday / Thursday next week would be the time to re-establish LIVE positions.\r\n\r\nIf you are going to trade, expect a chop fest. Do not get suckered into believing the market is moving strongly in one direction. It can and does change in an instant.\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,\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: #118 - PREMIUM SERVICE\r\nDATE: 5<sup>th</sup> November 2016.\r\n\r\n&nbsp;','BREXIT - “IT’S YOUR DECISION…” YEAH RIGHT!','','inherit','closed','closed','','8605-revision-v1','','','2016-11-05 16:15:18','2016-11-05 21:15:18','',8605,'http://weeklyfxdrivethru.com/8605-revision-v1/',0,'revision','',0),