<strong><span style="font-size: 14pt;">THE DAILY FX POST</span>
<span style="font-size: 14pt;"> from</span>
<span style="font-size: 14pt;"> THE PREMIUM SERVICE</span>

</strong>

<strong>DATE: Monday 10th November 2014
REF: #122</strong>

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<ol>
	<li><span style="font-size: 12pt;"><strong> OVERVIEW – INITIAL THOUGHTS:</strong></span></li>
</ol>
On Friday on the back of the mixed reviews to the NFP numbers, I placed four RADAR TRADES going long the USD. I was a little cautious with my stops given the mixed NFP reviews and reactions plus the fact that the USD did not respond the way that I thought it would have to the data released.

Earlier this morning the USD index (DXY) fell to 87.22, which coincided with the EUR/USD being stopped out the AUD/USD had already stopped. I took small losses that do not concern me, as all trades were entry trades to place “some skin in the market”.

Looking forward, I am now of the opinion that the recent USD move is going to halt for a while, work off some oversold conditions and enter a period of consolidation.

With the two remaining USD long trades, GBP/USD and NZD/USD, I am not going to alter anything at this point, I am not going to add to my position size, I am grateful that they are “skin in the market trades” as my feeling is that the USD may firm.

Looking around the markets, I see U.S. equities are up, Oil is up and it looks a little “squeezy”, Copper is up and Gold is slightly lower, having rebounded on Friday from 4 ½ year lows but I did expect the Gold rally to continue.

There is not that much news about this week and we have various bank holidays for Remembrance Day.

Should I enter / play new trades or adjust the existing ones I will tweet.

Finally, as I know a few of you will write on this point. PLAN A is still my plan. It is delayed whilst we pass this consolidation / pullback period.

I will be entering some additional radar trades later to try to take advantage of the USD consolidation move.

For example, I think that we may see a EUR/USD re-test at 1.2600. This area offers greater profit opportunities short. At the back of my mind, if I come across as a little hesitant today it because the USD/CHF when it broke through 0.9700 last week my thoughts were that it was on its way towards parity. It failed to hold above 0.9700 and now sits at 0.9630.

In addition the USD/JPY overnight lows at 113.85 look to hold one of the keys today. The U.S. equity futures are up yet the USD/JPY is lower. If this pair breaks blow the overnight lows this will affect the USD index and further support a USD (DXY) pullback.

<strong> </strong>
<ol start="2">
	<li><span style="font-size: 12pt;"><strong> KEY NEWS EVENTS NEXT 24 hours (BASED UPON (NYC) EDT TIME:</strong></span></li>
</ol>
AUD: - NAB Business Confidence.

<strong> </strong>
<ol start="3">
	<li><span style="font-size: 12pt;"><strong> EXISTING LIVE TRADES:</strong></span></li>
</ol>
<strong>RADAR TRADES:</strong>

RT205
GBP/USD
Short at 1.5870
Stop at 1.5940
Limit at 1.5200
Price now 1.5895
Current Profit / Loss Position -25 pips

RT207
NZD/USD
Short at 0.7760
Stop at 0.7845
Limit at 0.7000
Price now 0.7792
Current Profit / Loss Position -32 pips

<strong>FLASH TRADES:</strong><strong> </strong>

FT230
EUR/CHF
Long at 1.2040
Stop at 1.1920
Limit at 1.2500
Price now 1.2029
Current Profit / Loss Position -11 pips

<strong>FUNDAMENTAL TRADES:</strong>

FUN66
GBP/AUD
Long at 1.8520
Stop at 1.8150
Limit at 1.9200
Price now 1.8344
Current Profit / Loss Position -176 pips
(This trade is hedged from -100 pips)

<strong> </strong><strong> </strong>
<ol start="4">
	<li><strong> LIMIT &amp; STOP ORDERS WITH BROKERS:</strong></li>
</ol>
There are no limit order trades placed with my brokers at this time.

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Good luck today.

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