<h2 style="text-align: center;"><strong>THE DAILY FX POST
from
THE PREMIUM SERVICE

</strong></h2>
<h3><strong>DATE: Thursday 4th December 2014
REF: #137</strong></h3>
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<ol>
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<h3><strong> OVERVIEW – INITIAL THOUGHTS:</strong></h3>
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The big day is here for Mario Draghi. The markets are expecting an awful lot from the ECB, both QE announcement with implementation dates on all aspects and scope details of the program.

In my view, given the history of “can kicking at the ECB”, not much chance of all of the above, but a definite 100% chance of some more jawboning from Draghi (he’s good at this, he’s had so much practice)

Fundamentally, not much has changed in the EUROZONE in the past month. Most of the economic data is still very bearish the EUR/USD in particular.

Nothing else matters today it’s all about the ECB.

Obviously 1.2295/1.2300 are key support levels. The break lower, should Draghi commit to QE with details should be swift and 1.2100 would be a target to look for. If he disappoints and there is a good chance that he could, will see nice squeeze to maybe as high as 1.2500, definitely 1.2400 anyways.

I will be trading the ECB later via FLASH TRADES.....with small positions.

With regards to the feedback requested yesterday on trade communication options, the part-time traders have been heard loud and clear they want email alerts over twitter for RADAR and FUNDAMENTAL trades. I will add my initial position sizing to the alert. This will enable you guys to adjust to your equivalents based upon your RISK TOLERANCES and RISK MANAGEMENT data. The only exception to this will be traveling and any location issues I may have without my MacBook Air or access to my iMac.

FLASH TRADES will remain on twitter, due to the fact that distribution is instant. Only once or twice this year has I encountered issues on speed of delivery via twitter.

The “Direct Messaging” option within Twitter does not allow for group distribution, nor can I attach charts like I can via the existing twitter alert or future email alerts.

These changes will start January 2015.

I want to thank everyone who contributed for his or her feedback, it was much appreciated.

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<h3><strong> KEY NEWS EVENTS NEXT 24 hours (BASED UPON (NYC) EDT TIME</strong></h3>
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GBP: - Bank Rate Announcement.
ECB: - ECB Rate Statement and Press Conference.
CAD: - IVEY PMi.

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<h3><strong> EXISTING LIVE TRADES:</strong></h3>
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<strong>RADAR TRADES:</strong>

There are no LIVE RADAR trades at the moment.

<strong>FLASH TRADES:</strong>

FT230
EUR/CHF
Long at 1.2040
Stop at 1.1920
Limit at 1.2500
Price now 1.2031
Current Profit / Loss Position -9 pips<strong> </strong>

<strong>FUNDAMENTAL TRADES:</strong>

FUN74
EUR/CAD
LONG
Entry at 1.4050
Stop at 1.3850
Limit at 1.4500
Price now: 1.3990
Current Profit / Loss Position: -60 pips

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<h3><strong> LIMIT &amp; STOP ORDERS WITH BROKERS:</strong></h3>
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RT228
EUR/USD
SHORT
Entry at 1.2420
Stop at 1.2520
Limit at 1.1860

RT229
AUD/USD
SHORT
Entry at 0.8480
Stop at 0.8600
Limit at 0.8000

RT230
NZD/USD
SHORT
Entry at 0.7830
Stop at 0.7920
Limit at 0.7000

RT231
USD/CHF
LONG
Entry at 0.9650
Stop at 0.9580
Limit at 0.9980

RT232
USD/CAD
LONG
Entry at 1.1320
Stop at 1.1250
Limit at 1.1470

PLEASE NOTE:
The following FUNDAMENTAL trades I will hedge if required and the stop losses placed are not based on ATR levels, which was my usual approach a little while ago.

FUN77
GBP/AUD
LONG
Entry at 1.8390
Stop at 1.8000
Limit at 1.9500

FUN78
EUR/NZD
LONG
Entry at 1.5800
Stop at 1.5600
Limit at 1.6200

FUN79
GBP/NZD
LONG
Entry at 2.0000
Stop at 1.9650
Limit at 2.0500

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Scott Pickering
The Pip Accumulator
<a href="http://www.weeklyfxdrivethru.com">www.weeklyfxdrivethru.com</a>
Twitter: @ThePremService
Email: premiumservice@weeklyfxdrivethru.com

<strong>DISCLAIMER:</strong>

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