<p style="text-align: center;"><strong>THE PREMIUM SERVICE
</strong><strong>The Home of Single-Lot Trading
www.weeklyfxdrivethru.com</strong></p>
<strong>DATE: 17.05.2015
REFERENCE: #60
</strong><strong>BLOG: THE PREMIUM SERVICE</strong>
<ol>
	<li><strong> INTRODUCTION - MY OVERVIEW OF THE FOREX MARKET:</strong></li>
</ol>
As advised on twitter earlier in the week, I have a function this VICTORIA DAY holiday weekend. As a result of which, I am not able to complete the full blog.

It will be back to normal size next weekend.

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<u>LOOKING BACKWARDS, FORWARDS &amp; SIDEWAYS (FOR GOOD MEASURE) AT THE FX MARKET:</u>

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

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

<u>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: AUD – Monetary Policy Meeting Minutes.

TUESDAY: GBP - CPi.
TUESDAY: EUR – German ZEW Economic Sentiment.
TUESDAY: NZD – Dairy Auction Prices.
TUESDAY: CAD – Words of wisdom from Stephen Poloz BOC.

WEDNESDAY: USD – FOMC Meeting Minutes.
WEDNESDAY: CNY – HSBC Flash Manufacturing PMi.
WEDNESDAY: NZD – Annual Budget Release.

THURSDAY: EUR – French and German Manufacturing PMi.
THURSDAY: GBP – Retail Sales.
FRIDAY: USD – Core CPi and CPi.
FRIDAY: CAD – Core CPI and Core Retail Sales.

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

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<ol start="2">
	<li><strong><u> WHAT’S ON MY MIND: -
THE FUNDAMENTAL TRADERS OVERVIEW:</u></strong></li>
</ol>
<strong> </strong>
<ol start="3">
	<li><strong></strong><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>

<u>3.2 - SUMMARY OF PERFORMANCE:</u>

(Only the excel spreadsheets will now be shown in this section. References to previous, present and future trades “LAST WEEK’s TRADING REVIEW” will now be provided solely for the benefit of PREMIUM SERVICE subscribers and has been moved into section 4).

<u>3.2.1 – PREMIUM SERVICE – COST INCOME ANALYSIS:
</u>
<p style="text-align: center;"><strong>EMANATING FROM TRADE SET-UPS - 2015 to date:</strong></p>
<p style="text-align: center;"><u>MICRO LOT TRADER</u> - 349 trades cost to trade = $34.90
<strong>PROFIT</strong> from 349 trades = <strong><u>$471.50</u></strong></p>
<p style="text-align: center;"><u>MINI LOT TRADER</u> - 349 trades cost to trade = $349.00
<strong>PROFIT</strong> from 349 trades = <strong><u>$4,715.00</u></strong></p>
<p style="text-align: center;"><u>STANDARD LOT TRADER</u> - 349 trades cost to trade = $3,490.00
<strong>PROFIT</strong> from 349 trades = <strong><u>$47,150.00</u></strong></p>
<u>3.2.2 - PREMIUM SERVICE - OVERALL TRADE SUMMARY MONTH &amp; YTD:</u>

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<a href="https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/PREM-SERV-PROFITS-1-17052015.png"><img class="aligncenter size-full wp-image-5973" src="https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/PREM-SERV-PROFITS-1-17052015.png" alt="PREM SERV PROFITS 1 17052015" width="456" height="423" /></a>

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<a href="https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/PREM-SERV-PROFITS2-17052015.png"><img class="aligncenter size-full wp-image-5974" src="https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/PREM-SERV-PROFITS2-17052015.png" alt="PREM SERV PROFITS2 17052015" width="461" height="427" /></a>

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<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:</u>

Woulda…. Coulda…. Shoulda.

The above just about sums up the week for me. I know that the PREMIUM SERVICE added great profits this week, but I let a lot more go. I also traded poorly in my own accounts away from the PREMIUM SERVICE. Several pullback trades were a disaster. To say that I am frustrated and annoyed would be an under statement of how I feel at the time of writing this section of the blog.

We took some nice profits on the cross-rates this week on a couple of occasions; I am now waiting for the pullback to re-enter again. I will be checking these entries over the next 48 hours. I am conscious of the fact the last time I was in this position I spent too much time trying to grab the best entry and missed so many trades.

I am now just waiting on GREECE. I have several trades in the back pocket ready to go after the GREECE default is announced and the dust settles. I just cannot see a bailout being accepted and I am certain that these delays upon delays are just so GREECE can have its emergency measures in position: Monetary controls, Drachma introduction etc.

I can only see this being the route to be adopted as the Athens government has had months now to come up with its package of measures to reach a fiscal agreement with its creditors. It’s all gone really quiet on that front in my opinion. I have trades at the ready.

The markets are still at extremes, the EUR/USD appears to be well over-bought in my opinion and 1.1500 should be the limit if we get there. These extremes are creating both choppy and then stale markets. It is awkward at times.

The smaller trade sized positions with wider stops are the most successful trades at the moment. It all comes back to RISK MANAGEMENT and POSITION SIZING.

Finally, I want to explain in a little more detail why there aren't as many email alerts for RADAR and FUNDAMENTAL trades coming your way. It is due to the fact that as we have severe winters here just outside of Montreal, over 7-8 feet of snow per winter and temperatures of -20-30 celsius. In the summer at +20 +30 degrees I trade from the pavilion on the terrace using combination of LapTops and iPADs. My iMac has all the administration contained in its memory, therefore, as it is not portable, unless I am in my office Trade alerts will be via Twitter.

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

<a href="https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/PS-LIVE-TRADES-17052015.png"><img class="aligncenter size-full wp-image-5981" src="https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/PS-LIVE-TRADES-17052015.png" alt="PS LIVE TRADES 17052015" width="722" height="570" /></a>

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<u>4.4 - THE PREMIUM SERVICE – EXISTING LIMIT ORDERS:</u>

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<a href="https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/PS-LIMIT-ORDERS-17052015.png"><img class="aligncenter size-full wp-image-5980" src="https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/PS-LIMIT-ORDERS-17052015.png" alt="PS LIMIT ORDERS 17052015" width="708" height="427" /></a>

<u>PLEASE NOTE:</u>

Remember position sizes for suggested FUNDAMENTAL TRADES should be much smaller than usual, maybe only 20%-25% of your normal trading position size. It is only when we add to our positions that the fun begins. All FUNDAMENTAL trades posted via email contain a second page with details of where I will add trades and when and where stops are moved, the Stair Stepping Stop Protection (SSSP) is self-explanatory and I hope useful. Using this grows your trading position and helps protect the profits made, should the trade gain traction. In addition, I have added some detail on my HEDGING approach as well to the second FUNDAMENTAL TRADE alert page. More detailed information on HEDGING can be found inside the PREMIUM SERVICE website under the EDUCATION tab – Trading Essentials.

I view the commodity cross-rate pairs, which form the basis of my FUNDAMENTAL TRADE SET-UPS as bonus trades away from the USD majors and over the year they can be very profitable. This is why I have a separate broker account for commodity cross-RATE PAIR trades. It gives me an immediate measurement of performance without the need to extrapolate data.

<u>4.5 - POTENTIAL TRADES - WHAT CHARTS AM I LOOKING AT?</u>

(This section usually contains charts mainly relating to non-USD majors, in particular the ones that I am working on and looking at because they catch my eye that may become potential trades in the trading sessions ahead. If there are no comments beneath the charts, my comments / thoughts are written on them directly. I will tweet and email as soon as these possible trades become LIMIT ORDERS)

<u>THIS WEEKS OVERVIEW:</u>

I will not be looking at charts until after the weekend. I will be looking at existing live trades at the open on Sunday night.

<u> </u><u>4.6 - MAJOR TRADING PAIRS WITH LONGER-TERM TRENDS MATCHING:</u>

The following currency pairs have Short Term (DAILY), Medium Term (WEEKLY) and Long Term (MONTHLY) charts all trending in the same direction.

<a href="https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/PS-TRENDING-PAIRS-17052015.png"><img class="aligncenter size-full wp-image-5982" src="https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/PS-TRENDING-PAIRS-17052015.png" alt="PS TRENDING PAIRS 17052015" width="398" height="512" /></a>

<u>4.7 - THE KEY SUPPORT &amp; RESISTANCE LEVELS WITH THE USD MAJORS</u><strong><u>:
</u></strong>(The reviews in the section are accompanied with weekly charts of the USD majors)

<strong>EUR/USD: Closing Price 1.1447</strong>

We closed the week on a squeeze. The squeeze emanated from 3 pieces of bad economic data released in the U.S. on Friday. In addition we had the EUR Bunds playing games and the DAX as well. Tempted as I was to set up a EUR/USD late on Friday evening, I decided not to as my entire set of broker accounts had negative balances and in addition, I had enough RISK EXPOSURE. I also had a EUR/GBP short trade in play, so in essence I was already in a EUR short trade.

The chart below contains a few more of my thoughts.

<a href="https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/EURUSD-W-15052015.png"><img class="aligncenter size-large wp-image-5971" src="https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/EURUSD-W-15052015-1024x464.png" alt="EURUSD W 15052015" width="1024" height="464" /></a>

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Support in the EUR/USD is at 1.1340 with resistance is at 1.1495.

<strong> </strong>

<strong>GBP/USD: Closing Price 1.5726</strong>.

The move higher with cable has continued through last week. We saw another 300 pips or so added.

My comments for this pair are contained on the chart below.

<a href="https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/GBPUSD-W-15052015.png"><img class="aligncenter size-large wp-image-5970" src="https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/GBPUSD-W-15052015-1024x464.png" alt="GBPUSD W 15052015" width="1024" height="464" /></a>

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Support should be at 1.5710 and resistance at 1.5855.

<strong> </strong>

<strong>AUD/USD: Closing Price 0.8038</strong>.

This pair is creeping higher week on week. My comments relating to this pair are contained on the chart below.

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<a href="https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/AUDUSD-W-15052015.png"><img class="aligncenter size-large wp-image-5972" src="https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/AUDUSD-W-15052015-1024x464.png" alt="AUDUSD W 15052015" width="1024" height="464" /></a>

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Support should now be at 0.7950 and resistance at 0.8100.

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<strong>NZD/USD: Closing Price 0.7463</strong>.

My comments related to this pair are contained on the chart below.

<a href="https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/NZDUSD-W-15052015.png"><img class="aligncenter size-large wp-image-5969" src="https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/NZDUSD-W-15052015-1024x464.png" alt="NZDUSD W 15052015" width="1024" height="464" /></a>

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Support is at 0.7420 and resistance is at 0.7540.

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<strong> </strong>

<strong>USD/CAD: Closing Price 1.2015.</strong>

I am looking to pick this pair up for a long side trade just below existing levels. I have my comments for this pair contained on the chart.

<a href="https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/USDCAD-W-15052015.png"><img class="aligncenter size-large wp-image-5968" src="https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/USDCAD-W-15052015-1024x464.png" alt="USDCAD W 15052015" width="1024" height="464" /></a>

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Support should be good at 1.2000, if not then 1.1950. Resistance is at 1.2150.

<strong> </strong><strong> </strong>

<strong>USD/CHF: Closing Price 0.9157</strong>.

My comments for this pair are contained on the chart.

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<a href="https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/USDCHF-W-15052015.png"><img class="aligncenter size-large wp-image-5967" src="https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/USDCHF-W-15052015-1024x464.png" alt="USDCHF W 15052015" width="1024" height="464" /></a>

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Support is at 0.9120 and resistance at 0.9350.

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<strong>USD/JPY: Closing Price 119.39. </strong>

Still range bound.

If you are range trader enjoy… If not, then stay away.

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<a href="https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/USDJPY-W-15052015.png"><img class="aligncenter size-large wp-image-5966" src="https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/USDJPY-W-15052015-1024x464.png" alt="USDJPY W 15052015" width="1024" height="464" /></a>

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Support is at 118.50 and resistance at 120.50.

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

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

The blog will be back to it’s usual size next week.

As always, there will be trades to trade and there will be some great opportunities, please trade in line with your RISK MANAGEMENT parameters from your TRADING PLAN. If you do not have a TRADE PLAN, in my opinion, you should, as this will help you with consistency.
<p style="text-align: center;"><strong>Consistency = longevity in trading and that is a critical goal.
IT IS THE KEY MEASUREMENT</strong></p>
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.

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Take care.

Scott Pickering
The Pip Accumulator
Sunday May 17th 2015

EMAIL / FOLLOW ME AT:
premiumservice@weeklyfxdrivethru.com
Twitter: @pipaccumulator
Twitter: @ThePremService
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.

<u>THIRD PARTY COMPANIES WITH BANNERS ON MY WEBSITE:</u>

There are a small number of companies with banners on my website. In the interests of full disclosure I have a reciprocal business arrangement with these companies to promote their products. Unlike many of my competitors, I use the products and services provided by these companies. I will NOT allow any third party on my website unless I am 100% happy that they can back up their promise. By virtue of the fact, I work with these companies almost daily. I am more than confident to have them advertise on my website. Any reader who buys products or services from any advertiser via a banner on my website, <a href="http://www.weeklyfxdrivethru.com">www.weeklyfxdrivethru.com</a> will automatically have my help and assistance with any issues that they may have with my partnered advertisers.

<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.