<h3 style="text-align: center;"><strong>THE PREMIUM SERVICE
</strong><strong>The Home of Single-Lot Trading
www.weeklyfxdrivethru.com</strong></h3>
<strong>DATE: 14.06.2015
REFERENCE: #157
</strong><strong>BLOG: THE WEEKLY FX DRIVE THRU</strong>

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<ol>
	<li><strong> INTRODUCTION – THE VIEW FROM MY TRADE DESK:</strong></li>
</ol>
<u>LOOKING BACKWARDS, FORWARDS &amp; SIDEWAYS (FOR GOOD MEASURE) AT THE FX MARKET:</u>

<u>1.1 - LOOKING BACKWARDS:</u>

1.1.1 - OVERVIEW:

Yet another week when I felt that I was in suspended animation looking down on the markets waiting for the GREECE news to break. Only 11 trades via the PREMIUM SERVICE last week, the net result was positive, so I should not complain when adding profits to the broker accounts. Like many other traders the “woulda, coulda, shoulda” scenario comes into play and you always feel that you could have extracted more from a trade or maybe you closed it too early or too late, the bottom line is the accounts balances have grown.

So, like last week because of the geopolitical news I have no LIVE trades and no limit orders in position. I am 100% in cash on the sidelines. I have several long and short options ready to trade on the GREECE news; my TRADING PLAN is ready to roll as soon as we have a GREECE news event. As a Forex trader one of the key factors to success is to have your A and B plan ready to go.

1.1.2 – GREECE:

Another week has passed, the rhetoric has grown and according to the press release after a three way meeting between Merkel, Hollande and Tsipras, they are now going to intensify their negotiations, this means “We must try harder”.

Last Thursday the IMF left the negotiation table, obviously they have had enough. One must imagine “ The Pitbull” (Schaeuble) will be let loose soon to put the final nails in the coffin of the GREECE participation in the single currency.

Allegedly, GREECE needs a deal by the next EUROGROUP meeting on June 18<sup>th</sup> and the current bailout program expires on June 30<sup>th</sup> 2015.

I have not changed my view on this subject for well over 12 months now that GREECE’s creditors must take a haircut or GREECE will just have no alternative but to default. I still believe Drachmas will be circulating again very soon.

The vultures are circling above Athens and for me this news event is getting as boring as the FED rate hike.

For God’s sake, GREECE just default and Yellen just move up rates and put us out of our misery…

1.1.3 – RBNZ:

The RBA removed the dovish commentary at their last Central Bank policy statement.

Last week the RBNZ went so accommodative and dovish I thought that Graeme Wheeler, RBNZ governor, has been on “whacky tobaccy”. His words and the statement were consistent for the first time in months and the surprise rate cut with more to follow sent the NZD into a tailspin.

The GBP/NZD moved up about 450 pips on the news, the AUD/NZD almost 200 pips, big moves also with the NZD/USD, NZD/CAD and the EUR/NZD.

The market did not expect the rate cut and they certainly did not expect the commentary to run alongside, hence the savage moves.

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<u>1.2 - LOOKING FORWARDS:</u>

<u>1.2.1 - MAJOR FOREX NEWS THIS WEEK THAT INTERESTS ME:</u>

<u>(There are many more news items related to the Forex Market than the ones listed below. These are the ones that interest me. You can go to </u><a href="http://www.forexfactory.com">www.forexfactory.com</a><u> and </u><a href="http://www.tradingeconomics.com">www.tradingeconomics.com</a><u> for more comprehensive lists of all news events that are Forex related).</u>
SUNDAY: N/A.

MONDAY: EUR – Draghi spouts words of wisdom.
MONDAY: AUD – Monetary Policy Meeting Minutes.

TUESDAY: GBP - CPi.
TUESDAY: NZD – Dairy Auction Results.

WEDNESDAY: GBP – Unemployment Data.
WEDNESDAY: USD – FOMC Statement / FED Funds Rate &amp; Press Conference.
WEDNESDAY: NZD – GDP.

THURSDAY: CHF – SNB Monetary Policy Statement and Press Conference.
THURSDAY: GBP – Retail Sales.
THURSDAY: USD – CPi and Core CPi.

FRIDAY: CAD – Core CPI and Core Retail Sales.

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1.2.2 – MY THOUGHTS ON THE NEWS ITEMS THIS COMING WEEK:

The FOMC dominates the news this week. The markets will be looking for clues as to when the FED funds rate will be increased in line with FED policy. The language from the statement will be analyzed and the press conference should contain several questions and explanations about the vocabulary used by the FED in the statement so that the markets can establish a better understanding of when the rate hike will occur.

Most money is now on September or October. No one believes it will happen this week; but do NOT rule anything out. They could still raise in June, she has the press conference to elaborate and explain fully the FED reasons.

I think from a safety perspective as Q4 is usually a great month for economic data in the U.S. the FED will raise just before Q4 so that any impact of the rate hike will be absorbed in a good quarter’s data. Having written this, I would not be totally surprised if they are raised this week. The get the damn thing out of the way approach and shut the feckers up on Wall Street.

Lets see what happens. I just hope that we are not still 100% in the dark at 3.00PM (EDT) on Wednesday.

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<u>1.3 - LOOKING SIDEWAYS (FOR GOOD MEASURE!!): </u>

I have now been almost on gardening leave for three weeks as I decided to step aside and wait for the impending GREECE news to hit the wires. There were delays, clumping together of payments due, meetings set and re-set over and over again. I just felt that the best policy was to stay away and wait. Basically, I have been very light on trading anything EUR or CHF, with even restraint on GBP related trades.

My trades have mostly therefore been NZD related. I am still not 100% comfortable with the JPY and the AUD has been a chop fest. All in all, to pare back on trading probably could not have come at a better time.

So, with this extra time on my hands I have been speaking on email and SKYPE with a few of my subscribers to the PREMIUM SERVICE about all things Forex.

For fun a while back when the markets were looking very stretched, I talked about ARMEGEDDON TRADES from the perspective of if stops were pushed and the markets capitulated due to extreme conditions how far did I think that certain pairs could go before a two-sided market in a particular pair would reappear?

We talked mainly about the USD/CHF and EUR/CHF. I think that after the GREECE news is announced the CHF has the potential to be a very directional currency to trade against most currencies, in particular, the USD, EUR, GBP, AUD and to a lesser extent the JPY. The problems is setting what you think are the lowest of lows; they are either too low or not low enough. Either way it is not good to place LIMIT ORDERS as they either never get triggered in which case your opportunity to make money is removed or the positions are set to too close to the current market, so the trades trigger and the currency still moves against your direction and you incur losses as the stop is too close. You really have to be around to read the news and be ready to enter based on a sound basis. I did however say that in my mind most of the time I have my golden prices that I would love to see pairs hit once again from which to enter trades. I have these listed later in section 4.5 for my subscribers only and I will leave these listed for forthcoming blogs.

I am not sure what real benefit or purpose this will serve but it will be done. It’s sort of similar to the coming year ahead predictions that many of the financial institutions provide. Mainly total bulls**t but fun to read.

Summing up my conversations with subscribers, most are finding this a stop / start market although, surprisingly over the past two to three weeks some have felt the market more forgiving of poor entries than in the early part of 2015. I totally agree.

As you know from a few weeks ago, I highlighted my TRADING PLAN après GREECE. It is on hold until après GREECE but it is ready to go.

I have referred to the plan in section 4.2 for my GOLD and SILVER subscribers, as there has been the inevitable tweaking going on.

Being a trader having your plan is half the battle. As I mentioned to a few of you referring to the ARMEGGEDON trades to have these in play après GREECE would be the icing on the cake!!

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<ol start="2">
	<li><strong><u> WHAT’S ON MY MIND: -
THE FUNDAMENTAL TRADERS OVERVIEW:</u></strong></li>
</ol>
<p style="text-align: center;"><strong>THE CONTAGION APPROACHES...</strong></p>
As a child if I wanted a new toy or something similar, my father, an ex UK policeman, would often respond to my childlike continual bleating for whatever I wanted by saying “Change the record over – play something else” (That dates my age a little, although vinyl is making a comeback of immense proportions, lets hope in the future the USD/CHF and GBP/NZD do the same!!).

I feel with regards to GREECE it’s all been said already, remixed, put out on a 12” with a few bonus cuts and to make more relevant and generate more interest put in a box set with multiple versions and booklets etc.

However, I am not seeing the word “contagion” enough. All I see is Tsipras this and Varoufakis that, plus Merkel and Hollande (the modern day Laurel and Hardy), Weidmann (Bundesbank), Schaeuble (The Pitbull), Dijsselbloem (Chairman of the Eurogroup Finance Ministers) and Donald Tusk (Council President) regurgitating the same old, same old statements. Greece needs to make more cuts into pensions and raise more taxes and make more reforms. This is really tough medicine for Greece, and, frankly the IMF walking away from the negotiations last Thursday was a significant event even though they claim they are in the negotiations from a distance…yeah that's right, 3,500 miles away in the negotiations. In the negotiations my a**e.

No one is really privy to the true actual state of the Greek financial position. We do know, or rather are led to believe that it is dire, and, I do not doubt that.

What we are sometimes missing is the seriousness of the political situation back in Greece as we focus on the true effects of the contagion. Tsipras, has to sell whatever deal he may get from the Eurogroup and Laurel and Hardy back to his parliament before the end of the month. The Syriza party was elected on a very specific mandate that a large group of the party want to stick to no matter what.

Talks in Brussels and Frankfurt may have been irrelevant from day one. Feelings and tensions in Greece are obviously running high; pressure groups are making their feelings known. PAME the communist labour union increased its profile by recently demonstrating inside the Greek Finance Ministry with comments and banners along the lines of “We’ve bled enough” “We’ve paid enough” “Give Greece back to the Greeks”. Looking wider afield the latest opinion poll that I could find was by a group called Marc polling. It says that 50% of Greeks want Tsipras to accept any deal from the Eurozone and 38% support Tsipras’s continued resistance.

Uncertainty or what?

There simply isn’t enough time left to do a deal and satisfy all parties in my opinion. I have stated from day one, months and months ago, that Greece has no money and it cannot afford the terms laid down by the Dijsselbloem, or the lame comments from Laurel and Hardy coupled with the ankle snapping comments by the pitbull. A default and exit from the single-currency is the only option.

However, what has me perplexed is that the fear of contagion no matter what happens never seems to concern the Eurozone heads at all. I think the chairman of the World Bank, or some similar obscure body talked about contagion risks last week but apart from his comments - nada.

As we all know, the Eurozone leaders are basically a set of ostriches that bury their heads in the sand when it comes to tough decisions. God love them, they are not business people, they are just politicians.

<strong>Politicians are NOT problem solvers but blame attributers</strong>

I have said this many times before. Politicians mostly run on 4/5 year cycles and are here today gone tomorrow, why have their legacy in the history books spoiled by making decisions. Lets kick cans down the road…leave the decision to the next guy.

This is one reason why Greece is in the poor shape it is in right now.

Like a scene from the Monty Python movie “The Life of Brian”, the Judean Peoples Popular Front’s leader “Reg” (John Cleese) gauges support of his executive committee relating to Roman dominance in his country by asking the question, “What have the Romans ever done for us?”

In many bars around Athens the same questions have no doubt been asked many times over – “What has the single-currency and being told what to do by the Germans and the bureaucrats in Brussels ever done for us, where has it got us?” For me now, the answer is irrelevant, we are too far down the road.

Greece will in my opinion have to default and re-introduce the Drachma as a parallel currency and remove the Euro from circulation. It took a month to bring the Euro in with a parallel situation, it could be just a fast moving it out along with capital controls.

THE CONTAGION:

Greece is out…. who is next?

Spain, Portugal or Italy who knows? But reading the internet press releases on these countries the far left and far right parties have had enough with German interference and Brussels bureaucracy and ministers from other Eurozone countries telling them what they should be doing and how they should be doing it.

There is a contagion Tsunami brewing in Europe and I do not think that Eurozone politicians, never mind the rest of the world realizes how dangerous this is. It will make the financial crash of 2008 look like a teddy bears picnic in comparison. The Eurozone politicians are burying their heads in the sand, they either cannot see or are unwilling to view the big picture.

When you look at some of the existing leaders in Europe, Rahoy (Spain) and Hollande (France) as two good examples, they have zero chance at re-election. If they were to throw their hats in the ring and run again it will be like “Turkeys voting for Christmas” they will get slaughtered politically. There is a very strong anti-Europe undercurrent that places the entire Eurozone project in jeopardy.

Greece has been badly managed from day one and to add insult to injury repeatedly poor decisions were made to just make matters worse. The negotiators would be sacked in a private business. In politics they are rewarded with luxury travel and fully functional expense account.

If there is a can kicking exercise or a straight default and exit, there will be a contagion effect in play and it will have been brought about entirely by amateurish negotiations and agreements from day one with respect to Greece.

This is the Eurozone…

Welcome to Eurozone…the assassins of hope in negotiations and credible settlements.

Contagion here we come….

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<ol start="3">
	<li><strong><u> THE PREMIUM SERVICE:

</u></strong></li>
</ol>
<strong><u>SUMMARY OF PERFORMANCE:</u></strong>

<u>3.1 – OVERVIEW and SUBSCRIPTION OPTIONS, FEATURES and PRICING:</u>

For new readers who may not be aware, I refer to the PREMIUM SERVICE quite a lot in this blog and for more details about what it is, and, how much it costs, you will need to go the welcome page of <a href="http://www.weeklyfxdrivethru.com">www.weeklyfxdrivethru.com</a>

At the top of my welcome page there are three drop down menus: -
PREMIUM SERVICE PROMOTIONS (if available)
SIGN-UP
DISCLAIMER

Further details and how to join are all contained there. You will need a PayPal account to subscribe.

Below I provide an overview of the GOLD and SILVER subscription options and pricing.

<u>GOLD MEMBER SUBSCRIPTION FEATURES &amp; PRICING OPTIONS:
</u>
<ul>
	<li>3 options on subscription periods.</li>
	<li>100% access to the PREMIUM SERVICE area of my website <a href="http://www.weeklyfxdrivethru.com">weeklyfxdrivethru.com</a></li>
	<li>A dedicated exclusive twitter feed for GOLD MEMBER subscribers only @ThePremService.</li>
	<li>All trade set-ups communicated via Twitter and RADAR and FUNDAMENTAL trades additionally via email when possible.</li>
	<li>The full and complete version of The WEEKLY FX DRIVE THRU delivered weekly via an emailed PDF, and, viewable on line inside the PREMIUM SERVICE secure section of <a href="http://www.weeklyfxdrivethru.com">weeklyfxdrivethru.com</a></li>
	<li>My thoughts and comments on market conditions via twitter and/or email.</li>
</ul>
GOLD MEMBER SUBSCRIPTION OPTION PRICING:
(Please note that PayPal works in months NOT weeks)

10 weeks / 3 months:               USD $295.00
20 weeks / 6 months:               USD $495.00
40 weeks / 12 months:             USD $795.00

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<u>SILVER MEMBER SUBSCRIPTION FEATURES &amp; PRICING OPTIONS:
</u>
<ul>
	<li>Simple 4 weekly (monthly) membership pricing.</li>
	<li>A dedicated exclusive twitter feed for SILVER MEMBER subscribers only @PremServSilver.</li>
	<li>All my trade set-ups delivered to you via the SILVER MEMBER subscriber twitter feed @PremServSilver.</li>
	<li>Access to the PREMIUM SERVICE website (relevant trade information only).</li>
	<li>The “FREE NEWSLETTER” version of THE WEEKLY FX DRIVE THRU delivered weekly direct to you email inbox and viewable online at <a href="http://www.weeklyfxdrivethru.com">weeklyfxdrivethru.com</a></li>
</ul>
SILVER MEMBER SUBSCRIPTION OPTION PRICING:
(Please note that PayPal works in months NOT weeks)

4 weeks / 1 month:                    USD $100.00

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<u>3.2 – PERFORMANCE REVIEWS:</u>

<u>3.2.1 – PREMIUM SERVICE – COST INCOME ANALYSIS (USD):
</u>

EMANATING FROM TRADE SET-UPS - 2015 to date:

<u>MICRO LOT TRADER</u> - 401 trades cost to trade = $40.10
<strong>PROFIT</strong> from 401 trades = <strong><u>$570.60</u></strong>

<u>MINI LOT TRADER</u> - 401 trades cost to trade = $410.00
<strong>PROFIT</strong> from 401 trades = <strong><u>$5,706.00</u></strong>

<u>STANDARD LOT TRADER</u> - 401 trades cost to trade = $4,100.00
<strong>PROFIT</strong> from 401 trades = <strong><u>$57,060.00</u></strong>

If the above return from Forex Trading interests you go to

<a href="http://www.weeklyfxdrivethru.com">www.weeklyfxdrivethru.com</a> and check out the subscription options under the tab “PREMIUM SERVICE”.

The performance above is based off single-lot trade sizes.

THE PREMIUM SERVICE has subscribers with broker accounts of sizes ranging from $2,500 to over $100,000.

A profitable trade is a profitable trade. It is all about trading according to the size of your broker account (EFFECTIVE POSITION SIZING) and applying RISK MANAGEMENT principles at all times.

&nbsp;

<u>3.2.2 – PREMIUM SERVICE - TRADE SUMMARY DETAILS MONTH &amp; YTD:</u>

<a href="https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/PREM-SERV-PROFITS1-14062015.png"><img class="aligncenter size-full wp-image-6122" src="https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/PREM-SERV-PROFITS1-14062015.png" alt="PREM SERV PROFITS1 14062015" width="455" height="417" /></a>

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<a href="https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/PREM-SERV-PROFITS2-14062015.png">
<img class="aligncenter size-full wp-image-6123" src="https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/PREM-SERV-PROFITS2-14062015.png" alt="PREM SERV PROFITS2 14062015" width="460" height="415" />
</a>
<ol start="4">
	<li><strong><u> PREMIUM SERVICE SUBSCRIBER EXCLUSIVE CONTENT:</u></strong></li>
</ol>
(Section 4 is exclusive PREMIUM SERVICE content only available to PREMIUM SERVICE subscribers)

<u>4.1 - EDUCATION:
</u>(The full list of all items and more from this section can be found in the PREMIUM SERVICE website in the Trade Essential area under the EDUCATION tab.)

<u>4.2 – THE PREMIUM SERVICE – TRADING REVIEW &amp; LOOKING FORWARD:</u>

<u>4.3 - THE PREMIUM SERVICE - EXISTING LIVE TRADES:</u>

<u>4.4 - THE PREMIUM SERVICE – EXISTING LIMIT ORDERS:
</u>
<u>4.5 – ARMEGEDDON “GOLDEN” TRADES:</u><u> </u>

<u>4.6 - POTENTIAL TRADES - WHAT CHARTS AM I LOOKING AT?</u>

<u>4.7 - MAJOR TRADING PAIRS WITH LONGER-TERM TRENDS MATCHING:</u>

<u>4.8 - THE KEY SUPPORT &amp; RESISTANCE LEVELS WITH THE USD MAJORS</u><strong><u>:

</u></strong>

&nbsp;
<ol start="5">
	<li><strong><u> MY FINAL THOUGHTS:</u></strong></li>
</ol>
<u>5.1 - SUBSCRIBING TO THE “FREE VERSION” OF THE WEEKLY FX DRIVE THRU:</u>

If you like what you have almost completed reading and want to have THE WEEKLY FX DRIVE THRU delivered direct to your email inbox next week, here is what you do: -

Go to my website: - <a href="http://www.weeklyfxdrivethru.com">www.weeklyfxdrivethru.com</a>

On the right hand side of the welcome page under my bio “about me” there is a blue box titled SUBSCRIBE TO FREE NEWSLETTER, click on profile and add your email address. It is as simple and straightforward as that.

I do NOT sell your email data to anyone…do not worry...one less thing to worry about!

If you really like my way of explaining things…subscribe to either the PREMIUM SERVICE SILVER or GOLD by visiting my website <a href="http://www.weeklyfxdrivethru.com">www.weeklyfxdrivethru.com</a>

&nbsp;

<u>5.2 –TRADING TIPS &amp; THOUGHTS FOR THE WEEK AHEAD: </u>

Personally, I am going to continue my recent short-term plan of trading very light, especially going into a week when not only do we have a FOMC statement, economic indicators and a Janet Yellen press conference, plus, we have the potential of a GREECE end game playing out.

I have traded light for the past three weeks, I see absolutely no reason to change now given the intensity of news is even higher. In fact it would be rather foolish to change now.

With high-risk news on the imminent horizon it is now in my mind, even more important to stick to core trading principles.

<strong>Consistency = longevity in trading and that is a critical goal.
IT IS THE KEY MEASUREMENT</strong>

Before you enter a trade work out the risk, price it in $$$. Place your stop accordingly. PREMIUM SERVICE subscribers have a full library of information on RISK MANAGEMENT, RISK TOLERANCES and POSITION SIZING etc. available for reference 24x7.

&nbsp;

Take care.

Scott Pickering
The Pip Accumulator
Sunday June 14th 2015

EMAIL / FOLLOW ME AT:
drivethru@weeklyfxdrivethru.com
Twitter: @pipaccumulator
Google+/scottpickering
Tumblr: thepipaccumulator

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<u>VIEWS AND COMMENTS IN THIS BLOG:</u>

All the comments and views expressed in my blog are my thoughts and ideas only. They are based on my FUNDAMENTAL views of the markets and my thoughts on the individuals concerned on how they manage positions in the public domain. In addition, I have my own thoughts and views about what I think goes on behind closed doors. You should NOT base any trade ideas on my thoughts and views alone. As I have said on many occasions in my blog, I am a FUNDAMENTAL trader first, then a TECHNICAL trader second using chart analysis to establish what I believe to be excellent trade entry positions. However, you must make up your own mind and trade at your own risk deciding if the entry levels I refer to actually meet with your views and thoughts. This makes complete sense as the risk in trading your account is 100% owned by you.

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<u>TRADING &amp; PERFORMANCES DISCLAIMER:</u>

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.