<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>

&nbsp;

<strong>DATE: Wednesday 13th October 2014
REF: #107</strong>

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<ol>
	<li><span style="font-size: 12pt;"><strong> OVERVIEW – INITIAL THOUGHTS:</strong></span></li>
</ol>
A bit of a lull in proceedings so far since the North American close yesterday.

U.S. Retail sales today, will be the market mover for the markets and if better than expected I think that the USD has the potential to really see some traction. The metals are down and so is oil. The Ebola epidemic claims another victim on U.S. soil from the same Dallas Hospital as the last person. This will weigh in on the markets. This is USD supportive.

Today, it all depends on the retail sales data in my opinion.

I am not looking to add positions today, but I am looking very closely at the CAD. On the back of weaker oil prices this pair is breaking out.

I closed a few FUNDAMENTAL long trade limit orders yesterday. I am looking to bank $$$ this week having kissed over 600 pips of nice profits goodbye on the last two Sunday night openings. I do believe that we are in a risk off scenario, but I am growing increasingly frustrated that my core trades have not moved forward.

Lets see what happens today.

<strong> </strong>
<ol start="2">
	<li><span style="font-size: 12pt;"><strong> KEY NEWS EVENTS TODAY (BASED UPON (NYC) EDT TIME ZONE):</strong></span></li>
</ol>
USD: - Core Retail Sales.
EUR: - Draghi talks.

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

RT190
EUR/USD
Short at 1.2660
Stop at 1.2715
Limit at 1.1860
Price Now: 1.2646
Current Profit / Loss Position: +14 pips

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<strong>FLASH TRADES:</strong>

FT190
NZD/USD
Short at 0.7793
Stop at 0.8050
Limit at 0.6580
Price Now: 0.7832
Current Profit / Loss Position: -39 pips

FT191
AUD/USD
Short at 0.8709
Stop at 0.9100
Limit at 0.8000
Price Now: 0.8717
Current Profit / Loss Position: -8 pips

FT201
EUR/JPY
Short at 135.44
Stop at 136.25
Limit at 126.00
Price Now: 135.42
Current Profit / Loss Position: +2 pips

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<strong>FUNDAMENTAL TRADES:</strong>

FUN44
GBP/NZD
Long at 2.0507
Stop at 2.0000
Limit at 2.3200
Price Now: 2.0320
Current Profit / Loss Position: -187 pips
(This trade is hedged from -125 pips)

FUN47
GBP/AUD
Long at 1.8300
Stop at 1.7500
Limit at 2.0650
Price Now: 1.8261
Current Profit / Loss Position: -39 pips
(This trade will be hedged from -100 pips)

<strong> </strong>
<ol start="4">
	<li><span style="font-size: 12pt;"><strong> LIMIT &amp; STOP ORDERS WITH BROKERS:</strong></span></li>
</ol>
RT187
GBP/USD
Short at 1.5960
Stop at 1.6120
Limit at 1.5380

FUN45
NZD/USD
Short at 0.7930
Stop at 0.8080
Limit at 0.7000

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<ol start="5">
	<li><span style="font-size: 12pt;"><strong> FINAL THOUGHTS:</strong></span></li>
</ol>
Be very careful today. We are still at many major levels and I am expecting major volatility. Buyers and sellers are STILL fighting over control.

By now, I would have expected the commodity currencies to have weakened dramatically, they have NOT yet. Hence the reason I took some commodity cross rate long trades off the table. I am just being cautious, maybe too over cautious. But I have been here before.

If the USD powers through 86.00 towards 92.00 there will be thousands of pips available for profit. It s all about the bigger picture. Be patient.

Good luck.

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.