(4589,1,'2014-10-18 14:45:37','2014-10-18 19:45:37','<strong> </strong>\r\n<ol>\r\n	<li><span style=\"font-size: 14pt;\"><strong> INTRODUCTION:</strong></span></li>\r\n</ol>\r\n<strong>“Holy smokes… was that a week of volatility or what?”</strong>\r\n\r\nThe above was how I started last week’s blog. That was nothing in terms of volatility compared to what we saw last Wednesday and Thursday. That was real volatility.\r\n\r\nDuring the last 72 hours or so, I have had several emails and twitter exchanges with PREMIUM SERVICE subscribers about what happened and why there was such a dramatic chain of events so quickly.\r\n\r\nFrom my perspective it was a number of factors all hitting at the same time and FEAR took over.\r\n\r\n(PREMIUM SERVICE subscribers will be well versed in my thoughts on the two primary drivers of the Forex markets; FEAR and GREED. I have several articles in the PREMIUM SERVICE library under the section TRADING ESSENTIALS that refer to FEAR and GREED).\r\n\r\nThe contributing factors in my opinion were: -\r\n<ol>\r\n	<li>We have been in a one sided market for the better part of six years.</li>\r\n	<li>Only very recently have the bears raised their heads.</li>\r\n	<li>The FED is ending Quantitative Easing (QE).</li>\r\n	<li>The ECB is as effective as a “Headless chicken running around a farmyard”. Draghi is too weak to do anything other than talk. Germany runs the EUROZONE and the ECB. Germany does NOT want Quantitative Easing (QE).</li>\r\n	<li>The FED and ECB are on divergent monetary policies. The FED tightening and ECB loosening.</li>\r\n	<li>WTi (OIL) was close to key $80.00 support.</li>\r\n	<li>EBOLA.</li>\r\n	<li>ISIS.</li>\r\n	<li>Russian sanctions.</li>\r\n	<li>Russia / Ukraine issues.</li>\r\n</ol>\r\nAbove there are 10 reasons / factors that spring to my mind immediately.\r\n\r\nLet me add factor number 11 below: -\r\n\r\nNow lets face simple facts. Most traders in the equity markets know nothing about a two-sided market as the experienced ones from the past have moved on. All the present incumbents know is “BUY THE DIP”…”BUY THE DIP”…”BUY THE FECK** DIP”. Therefore, FEAR will be something they do NOT react to very well. They also believe, probably correctly that the FED will ultimately step in and backstop them at some stage. They see their jobs as “jobs for the boys”… Stock markets (in particular the U.S. because of the 401K mentality) will always be supportive irrespective of company valuations, which are extreme in many cases… I have NOT said the word bubble yet…I will save that for another blog.\r\n\r\nGiven these factors, the domino effect takes over and FEAR rules. I know many of you will say bulls**t, but these are my thoughts. For the past three weeks, I have been referring to my blog of three weeks ago stating that a collapse in the equity markets was on the cards. If you have not read the previous blogs they are all on the welcome page of my website THE WEEKLY FX DRIVE THRU at www.weeklyfxdrivethru.com\r\n\r\nThe funniest FX event of the week took place Thursday evening (EDT). At about 18:30 EDT the NZD/USD collapsed about 70-100 pips on the back of a RBNZ release stating that the NZD was way over-valued and needed to be weakened to achieve the RBNZ fair value level. About 5 minutes later the release from the RBNZ was withdrawn stating that is was an old data press release and was leaked in error. The NZD/USD gave back its entire move lower in about 5 minutes.\r\n\r\nTherefore…. Mr. Wheeler, governor of the RBNZ… here’s what you do to bring down the value of the NZD.\r\n\r\n<em>Apparently, the markets are NOT clever enough to distinguish between old and new economic data releases. Pick out some old RBNZ minutes saying that you are going to intervene directly into the Forex market. Then release them once a week and inside 4 months you will have your desired NZD exchange rate in the NZD/USD. Throw in the odd personal appearance for good measure. This is, simple, clear, unambiguous guidance to the RBNZ from me… you are most welcome my invoice is in the mail.</em>\r\n\r\nI spent the last couple of days, sidelined doing voyeur trades and nursing some open trades from the Wednesday fallout…still doing that now!\r\n\r\n<strong> </strong>\r\n<ol start=\"2\">\r\n	<li><strong></strong><strong><span style=\"font-size: 14pt;\"> THE PREMIUM SERVICE: – </span></strong>&nbsp;</li>\r\n</ol>\r\n<p style=\"text-align: center;\"><span style=\"font-size: 12pt;\"><strong>OVERVIEW, TRADING ACTIVITY, NEWS UPDATE &amp; MONTHLY AND\r\n</strong><strong>YEAR TO DATE TRADING SUMMARIES:</strong></span></p>\r\n<span style=\"text-decoration: underline;\">2.1 OVERVIEW:</span>\r\n\r\nFor 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 the page there are three drop down menus: PREMIUM SERVICE, SIGN-UP and DISCLAIMER. Further details and how to join are all contained there. You will need at PayPal account to subscribe.\r\n\r\n<span style=\"text-decoration: underline;\">2.2 TRADING ACTIVITY:</span>\r\n\r\nWhat a week for trading. It was so fast and furious on Wednesday, I scalped trades “OFF / AWAY” from the PREMIUM SERVICE as it was just impossible to trade / communicate / tweet when things were moving so fast.\r\n\r\nThankfully, as regular followers know, when I trade my FUNDAMENTAL TRADE set-ups these trades are HEDGED from losses between 100 and 150 pips. Everything was hedged last Wednesday. I sat in very large loss trades through Wednesday / Thursday as I scalped away from my core trades. On Thursday morning when commodity crosses ripped higher I exited 4/5 trades with nice profits.\r\n\r\nNow, I just have 3 LIVE trades left all are hedged. My maximum loss would be 325 pips, which is well within my RISK MANAGEMENT and RISK TOLERANCE guidelines.\r\n\r\n(Further details on HEDGING, RISK TOLERANCE and RISK MANAGEMENT can be found inside the PREMIUM SERVICE under TRADING ESSENTIALS)\r\n\r\nHowever, after all that drama, at the end of the week, I had nice trading profits. During the week from single lot trades more than 600 pips were generated, which is in line with my objectives. Obviously, those who trade multi-lot would have generated a further extra income over and above the amounts quoted. I hope that my PREMIUM SERVICE subscribers benefited greatly from these set-ups as well.\r\n\r\n<span style=\"text-decoration: underline;\">2.3 MONTHLY AND YEAR TO DATE TRADING SUMMARIES<strong>:</strong></span>\r\n\r\nBelow I show the up to date performances for my various trading styles. Full excel spreadsheets are in the subscriber area of the PREMIUM SERVICE website.\r\n\r\nBelow are the excel spreadsheets covering this month so far and the year 2014 to date.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/10/PREM-SERV-PROFITS1-18102014.png\"><img class=\"aligncenter size-full wp-image-4579\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/10/PREM-SERV-PROFITS1-18102014.png\" alt=\"PREM SERV PROFITS1 18102014\" width=\"448\" height=\"421\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/10/PREM-SERV-PROFITS-2-18102014.png\"><img class=\"aligncenter size-full wp-image-4580\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/10/PREM-SERV-PROFITS-2-18102014.png\" alt=\"PREM SERV PROFITS 2 18102014\" width=\"458\" height=\"417\" /></a>\r\n\r\n<span style=\"text-decoration: underline;\">PLEASE NOTE:</span>\r\n\r\nThe above examples in sections 2.2 and 2.3 are for illustration purposes only. The profitability examples detailed above are based solely upon single lot trading, regardless of lot type. If multiple lot sizes are traded the profitability margins will be different than those shown.\r\n\r\nJust to provide more information so you understand where I am coming from with the risk / reward statements above. All of my trades are of different sizes and different size lot types. The above does not reflect the actual trading performance, but it does show you the direction of the performance of the trades placed. I like to add to trades, profits are taken as the trade progresses and my overall cost average moves several times. All of my trades are of different lot styles. I trade a mixture of micro lots, mini lots and standard lots across my brokers.\r\n\r\nThe above results simply display your profit or loss if you placed a single lot trade on all the set-ups suggested and did nothing else.\r\n\r\nYou must always remember to follow properly executed RISK MANAGEMENT and POSITION SIZING disciplines with all your trades and remember that Forex trading with a high degree of leverage can significantly increase your profits and losses. You should trade with a TRADE PLAN and NOT risk monies that you cannot afford to lose.\r\n\r\n<strong> </strong>\r\n<ol start=\"3\">\r\n	<li><span style=\"font-size: 14pt;\"><strong> THE FUNDAMENTAL TRADERS OVERVIEW:</strong></span></li>\r\n</ol>\r\nI am NOT going to talk about dominoes this week, or refer to my previous blogs about dominoes.\r\n\r\n&nbsp;\r\n<p style=\"text-align: center;\"><span style=\"font-size: 12pt;\"><strong>WHATS’S NEXT… DRAGHI’S RESIGNATION?</strong></span></p>\r\nThe title if nothing else will attract a few more readers.\r\n\r\nSince I started writing blogs three years ago, I have been a constant skeptic about the EUROZONE, not the trading community, I think that is an excellent idea in many areas, laughable in others.\r\n\r\nMy skepticism emanates from the single currency.\r\n\r\nI have written so many times that 18 counties or so using the same chequebook just will not work. One central bank (the ECB) trying to do what’s best for 18 countries all with different issues / problems is just impossible. It is further exacerbated by the fact that there is one super almighty economic powerhouse within the single currency (Germany) that has power, money and greater financial stability than most of the other member countries.\r\n\r\nWhen, the world suffered through the financial crash of 2008, the FED, BOE and BOJ sought Quantitative Easing (QE) as the route to support their equity markets. The ECB through a German order used austerity. Lets make the people pay more taxes, reduce services… make the bastards suffer.\r\n\r\nWell that didn’t work…\r\n\r\nEight years later the FED and BOE are looking at raising rates, probably the FED sooner than the BOE (proximity issues to Europe, could affect the BOE more than we think).\r\n\r\nWhere is the EUROZONE now…six years later?\r\n\r\nMore fecked up than ever before…\r\n\r\nEven Germany is now releasing poor economic data. The periphery countries, ITALY, SPAIN, GREECE, PORTUGAL, IRELAND and CYPRUS are still struggling after bailouts to get their economies motoring. Economic growth is one of the major issues, no growth, DEFLATION… or as the ECB says DIS-INFLATION… call a spade a spade - it is what it is DEFLATION.\r\n\r\nNow at this point, I could lay down a plethora of economic data from the EUROZONE countries, but I am going to be selective but wide ranging at the same time in the chart below.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/10/EZ-ECON-DATA-18102014.png\"><img class=\"aligncenter size-full wp-image-4586\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/10/EZ-ECON-DATA-18102014.png\" alt=\"EZ ECON DATA 18102014\" width=\"719\" height=\"493\" /></a>\r\n\r\n&nbsp;\r\n\r\nStatistics such as those above can be manipulated in numerous different ways and as Forex traders reading and interpreting economic data on a daily basis as well as observing politicians in action, I need say no more on this topic.\r\n\r\nHowever, six years on and with people suffering through Austerity measures, I ask the question how far has the EUROZONE progressed.\r\n\r\nHere are my highlights: -\r\n<ol>\r\n	<li>Unemployment stubbornly high in Spain and Greece.</li>\r\n	<li>Debt to GDP – Italy, Ireland, Portugal, Greece and Cyprus way too high.</li>\r\n	<li>Retail Sales – very patchy</li>\r\n	<li>Consumer Confidence numbers are in the main below 100.</li>\r\n	<li>PMi statistics are patchy. By now the averages should be well above contracting levels of sub 50. Germany now below 50. This has all the signs of RECESSION on the cards in the near future.</li>\r\n	<li>GDP – there is zero inflation in theEUROZONE. The targethas been revised down and down again and even now the area average is 0.70% against the latest lowball revision of 1.2%. This equals DEFLATION.Plus,</li>\r\n	<li>The high exchange rate of the EUR against it’s key trading partners the USA and Japan in particular. This is making exports very expensive and uncompetitive.</li>\r\n</ol>\r\n&nbsp;\r\n\r\nThe world in generally on a slowdown (its not just the EUROZONE), consumer confidence worldwide is low…. consumers are generally not spending (USA, UK and Japan following Sales Tax hike)… if no one buys why produce finished goods… if you are now producing finished goods … why buy raw materials? Hence the Manufacturing PMi issues in Germany.\r\n\r\nSix years on and the ECB and the politicians should be patting themselves on the back for a job well done in the EUROZONE. Instead it is mainly a shambles.\r\n\r\nThe Financial sector was stabilized in the initial period after the 2008 crash, but, six years on there are still EUROZONE bank stress tests being undertaken… give me a break shouldn\'t this have been resolved on first, second or maybe the third attempt of stress tests.\r\n\r\nThis sums up the EUROZONE, wishy-washy and totally 100% useless at completing anything effectively.\r\n\r\nDraghi is guilty of a lot of things and frankly, for six years he has been talking, talking and talking but has been very low on actual action. Apart from interest rates no extraordinary measures or unconventional measures have really been used to arrest the decline of the EUROZONE and tackle growth, unemployment or confidence.\r\n\r\nThe EUROZONE is now bordering on RECESSION never mind struggling with DEFLATION.\r\n\r\nThis does NOT look good for the population living under the EUROZONE flag.\r\n\r\nIf there were no EUROZONE, could each individual country have tackled the problems better on their own rather than being under the constraints of a centralized policy governed allegedly by a central bank to represent all…. the ECB, which is basically, in my opinion, a sub-branch of the Bundesbank?\r\n\r\nPersonally, I think on their own most countries after the crash would have protected their financial systems and then revised their currency valuations probably against the USD to move forward. This is where the periphery countries in particular have suffered most. They have not been able to tackle issues head on, fix and move on, instead they are under a very tight fiscal regime, because that is how Germany operates.\r\n\r\nWhat next?\r\n\r\nUltimately, I think that the FED will rescue the EUROZONE through a strengthening USD. However, this is not the point, a strong, direct and unambiguous Central Bank is paramount to give the people and the financial markets in the area or country it represents confidence. If a poll were undertaken today in the EUROZONE about the effectiveness of the ECB I would love to see the results.\r\n\r\nOne size does NOT fit all in this instance and a huge amount of financial pain and stress has been thrown at people for what? Six years of a non-event, back to square one.\r\n\r\nWe live in a results orientated society wanting instant gratification.\r\n\r\nThe master plan for the EUROZONE was hatched years ago over a glass of Chateauneuf du Pape, a bottle of Cognac and fine cigars. It was NOT thought properly through to cope with a mix of diverse multi cultures, with completely different ways of coping with and addressing core problems that face individual countries. Never mind what would happen if… scenarios put in place. This is hardly surprising when you look at the achievements of the EUROZONE.\r\n<p style=\"text-align: center;\"><strong>The effectiveness of the currency union is questionable in fact I think a failure.</strong></p>\r\n<p style=\"text-align: center;\"><strong>There is NO coordinated foreign policy in the EUROZONE.</strong></p>\r\n<p style=\"text-align: center;\"><strong>There is NO coordinated present or future energy plan in the EUROZONE.</strong></p>\r\n<p style=\"text-align: center;\"><strong>There is NO tax harmonization plan in the EUROZONE.</strong></p>\r\n<p style=\"text-align: center;\"><strong>There is NO “how to tackle” EUROZONE unemployment plan in the EUROZONE.</strong></p>\r\n<p style=\"text-align: center;\"><strong>There is NO universal social chapter, minimum wage, weekly working hours, retirement age agreement in the EUROZONE.</strong><strong> </strong></p>\r\nI am not saying that Draghi is single handedly responsible for the above, but he is a vital cog in the EUROZONE machine.\r\n\r\nIn my opinion, Draghi has failed in his areas of responsibility. I know people will say he has calmed the banking sector. But the banks do not lend. It\'s a failure. It is so much a failure he had to introduce negative deposit rates in a last ditch attempt to try and force the banks to lend again and to try and get some growth into ailing economies.\r\n\r\nHis tenure is a failure based on his inability to use his powers effectively or to persuade or demand powers to enable the ECB and himself to manage effectively. Either way; I think its time for him to say goodbye and move on, if he were a manager of a Barclays Premiership Football Team he would have been long gone by now.\r\n\r\nComing up he has another opportunity at the next press conference to deliver once and for all what the markets are demanding.\r\n\r\nA fully explained package of measures including: -\r\n\r\nQuantitative Easing (QE) that will drag the EUROZONE away from recession. He needs something dramatic like QE to reduce the EUR exchange rate to reduce export costs and in so doing this will make EUROZONE exports of finished goods and services cheaper to sell in the open market. This will provide employment, which will reduce the social burden and add more money to a countries tax income. If the increased tax income is used for larger scale infrastructure this will further reduce unemployment and increase the tax income and once again reduce the social burden.\r\n\r\nIf he talks at the next ECB Press Conference and once again “kicks the can down the road” and delivers no comprehensive action, then I think that he should step down.\r\n\r\nThis would be the first step in the break –up of the single currency union. The ECB has been shown up with all it’s shortcomings for the world to see.\r\n\r\nThe EUROZONE needs change and it needs a new fresh mandate for the ECB to allow it to function, it’s not just about Germany. Draghi has not fought the fight to do this.\r\n\r\nIn my opinion it\'s a long overdue time for him to move on and if at the next ECB Press Conference he does NOT deliver this would be the time to step aside.\r\n\r\n&nbsp;\r\n<ol start=\"4\">\r\n	<li><span style=\"font-size: 14pt;\"><strong> TRADER TOPICS:</strong></span></li>\r\n</ol>\r\n<p style=\"text-align: center;\"><span style=\"font-size: 12pt;\"><strong>HOW TO HANDLE YOUR FOREX TRADING WORRIES:</strong></span></p>\r\nWe all worry about things from time to time and worrying, as we know is to feel concerned or uncomfortable; oftentimes (but not always), in anticipation of a negative event or outcome. After all, we’re all human, and we have the basic need to avoid pain.\r\n\r\nFor traders, the major sources of psychological pain tend to involve losing capital and / or being on the wrong side of trades. Along with these issues, our worries can be compounded with concerns of missing trade opportunities or forgetting an important variable during analysis. The list can in fact, go on and on.\r\n\r\nIf NOT handled properly, worrying can become a big hurdle to success as it can lead to a host of different issues. For instance, have you ever impulsively changed your profit and stop loss levels only to find out that your original levels were correct in the first place? Because you let your worries of losing or being wrong get to you, you ended up not following your TRADE PLAN.\r\n\r\nFear and worrying redirects our focus from the situation at hand and we may end up making impulsive or irrational trade decisions. Even worse, sitting there worrying about something without taking action, can be unproductive and a plain waste of time.\r\n\r\nWorrying can be used as a signal for different issues: maybe you could have planned better, your position may be over leveraged, or maybe you may be avoiding a harsher reality outside of trading.\r\n\r\nIf you catch yourself worrying about the small details that you think you shouldn’t obsess about, ask yourself. “What am I really afraid of?”\r\n\r\nFor instance, let’s say you realise that you’ve been obsessing about your losing trade, which, is only 0.1% of your account, and then you have to ask yourself what it is you’re truly afraid of. Is it the future of your trading career? Your monthly mortgage payment?\r\n\r\nWhatever it may be, imagine yourself in this worst –case scenario and think about what you’re going to do if you were actually in it. Maybe if you outline your goals as a trader through your TRADE PLAN, you’d be able to relieve yourself of the anxiety and focus on more trading.\r\n\r\nThis self-critical exercise has a name it’s called VISUALIZATION and it may help give you more feeling of control over the situations that you’re dreading. VISUALIZATION can be another form of learning from experience, and with deliberate practice of this exercise when you worry, over time your fears will become less of a worry for you.<strong> </strong>\r\n\r\n<strong> </strong><strong> </strong>\r\n<ol start=\"5\">\r\n	<li><span style=\"font-size: 14pt;\"><strong> MY CURRENT LIVE TRADES:</strong></span></li>\r\n</ol>\r\n&nbsp;\r\n\r\n<strong>RADAR TRADES:</strong>\r\n\r\nThere are no LIVE RADAR trades at the present time.\r\n\r\n<strong>FLASH TRADES:</strong>\r\n\r\nFT1190\r\nNZD/USD\r\nShort\r\nCost Average at: 0.7793\r\nStop at 0.7930\r\nLimit at 0.6580\r\nPresent Price: 0.7913\r\nCurrent Profit / Loss Position: -120 pips\r\n(This trade is hedged from a loss position of -100 pips)\r\n\r\nFT202\r\nUSD/CAD\r\nLong\r\nCost Average at: 1.1340\r\nStop at 1.1170\r\nLimit at 1.1570\r\nPresent Price: 1.1276\r\nCurrent Profit / Loss Position: -64 pips\r\n\r\n<strong>FUNDAMENTAL TRADES:</strong>\r\n\r\nFUN44\r\nGBP/NZD\r\nLong\r\nCost Average at: 2.0507\r\nStop at 1.9500\r\nLimit at 2.3200\r\nPresent Price: 2.0303\r\nCurrent Profit / Loss Position: -204 pips\r\n(This trade is hedged from a loss position of -125 pips)\r\n\r\n<strong> </strong><strong> </strong>\r\n<ol start=\"6\">\r\n	<li><span style=\"font-size: 14pt;\"><strong> TRADES THAT ARE ON MY RADAR:</strong></span></li>\r\n</ol>\r\nRT192\r\nAUD/USD\r\nSHORT\r\nEntry at: 0.8820\r\nStop at: 0.8870\r\nLimit at: 0.8650\r\n\r\nRT193\r\nNZD/USD\r\nSHORT\r\nEntry at: 0.7990\r\nStop at: 0.8030\r\nLimit at: 0.7800\r\n\r\n&nbsp;\r\n\r\nI will be looking around my charts tomorrow (Sunday) and into the small hours Monday morning.\r\n\r\nI want to get a feel for sentiment now that a very volatile week is behind us. I will tweet trade set-ups as I find them.\r\n\r\nMy focus will be Commodity crosses and Nordic currency pairs.<strong> </strong>\r\n\r\n<strong> </strong>\r\n<ol start=\"7\">\r\n	<li><span style=\"font-size: 14pt;\"><strong> LOOKING FORWARD…THE KEY SUPPORT &amp; RESISTANCE LEVELS WITH THE USD MAJORS:</strong></span></li>\r\n</ol>\r\n<strong>EUR/USD: Closing Price 1.2757.</strong> After a very eventful week, the EUR/USD ends the week not too far for where it started. Moving forward, I am uncertain as to how sentiment will play out early next week. Basically nothing has changed. The ECB and FED are on divergent monetary policies and as such the EUR should weaken moving forward. We may see some consolidation at present levels for a while and be somewhat range bound. The support level that interests me is 1.2650 and the resistance level at 1.2885.\r\n\r\n<strong>GBP/USD: Closing Price 1.6088</strong>. Like the EUR/USD; after a very eventful week literally no change in the closing weekly price. Am I bullish or am I bearish this pair? I am for once not sure. If push came to a shove I would have to say bearish. My reasons would be to look where it is following the Scottish referendum and following Carney’s Mansion House speech. It is a bit of wait and see for me with this pair, but there lies good support at 1.6020 and 1.6125 has nice resistance, in fact above 1.6130 and I think that there is a chance of a squeeze.<strong> </strong>\r\n\r\n<strong>AUD/USD: Closing Price 0.8748</strong>. Probably not to Glenn Stevens liking, but the AUD/USD will finish the week about 100 pips higher than last week. As long as we consolidate in equities after the turmoil the Aussie will stay inflated in my opinion. Support is at 0.8690 and resistance will be strong at 0.8825.\r\n\r\n<strong>NZD/USD: Closing Price 0.7913</strong>. Just like the Aussie about a 100 pips higher closing this week in comparison to last week. I am still bearish this pair, but I do find it very frustrating to trade at times. It is quite illiquid in comparison to other USD pairs and in the past it was quite directional. Now at times it’s a pain in the a**. Support for the coming sessions should be good at -.7850 and resistance should be strong at 0.8000.\r\n\r\n<strong>USD/CAD: Closing Price 1.1276.</strong> I am long the damn “loonie” again…why do I inflict this pain upon myself? In the immediate future we have a BOC rate decision, press conference and Interest Rate statement to contend with this Wednesday, never mind the price of a barrel of WTi. Support is at 1.1170 and resistance is at 1.1375.\r\n\r\n<strong>USD/CHF: Closing Price 0.9462</strong>. I couldn’t be bothered about this pair for a while, I wrote down 0.9400 on a post-it note to remind me to get long at this level. I should have placed a limit order with the brokers but I did not. It bounced nicely off 0.9400 about three times; I had three opportunities and took none of them. This pair is now destined to rocket to parity. Just in case it pulls back, will someone remind me to enter long at the support level of 0.9400? Resistance will be good at 0.9540.<strong> </strong>\r\n\r\n<strong>USD/JPY: Closing Price 106.87. </strong>I traded the EUR/JPY during the week twice and made $$$ twice. Those were my first JPY trades for quite sometime. Looking at the USD/JPY we have bounced very nicely off 105.00, back though 105.50 and beyond. Looking ahead I see support at 105.60 and resistance at 107.50.\r\n\r\n<strong> </strong>\r\n<ol start=\"8\">\r\n	<li><span style=\"font-size: 14pt;\"><strong> MAJOR TRADING PAIRS WITH LONGER-TERM TRENDS MATCHING:</strong></span></li>\r\n</ol>\r\nThe following currency pairs have Short Term (DAILY), Medium Term (WEEKLY) and Long Term (MONTHLY) charts all trending in the same direction.\r\n\r\n<span style=\"text-decoration: underline;\">LONG:</span>\r\n\r\nUSD/CAD\r\nUSD/NOK\r\n\r\n<span style=\"text-decoration: underline;\">SHORT</span>:\r\n\r\nThere are none.\r\n\r\nTraders take note of the above and compare this result with previous weeks. We could be on for a sentiment change hence my hesitation putting out a lot of set-ups.\r\n\r\n&nbsp;\r\n<ol start=\"9\">\r\n	<li><span style=\"font-size: 14pt;\"><strong> MAJOR FOREX NEWS THIS WEEK THAT INTERESTS ME:</strong></span></li>\r\n</ol>\r\n<strong> </strong>\r\n\r\nSUNDAY: N/A.\r\n\r\nMONDAY: AUD – Monetary Policy Meeting Minutes.\r\nMONDAY: CNY – GDP and Industrial Production.\r\n\r\nTUESDAY: AUD - CPi.\r\n\r\nWEDNESDAY: CAD – Core Retail Sales, BOC Rate Decision, Press Conference\r\nWEDNESDAY: AUD – Glenn Stevens speaks.\r\nWEDNESDAY: NZD – CPi.\r\nWEDNESDAY: CNY – HSBC Flash Manufacturing PMi.\r\n\r\nTHURSDAY: EUR – French &amp; German Flash Manufacturing PMi.\r\nTHURSDAY: GBP – Retail Sales.\r\nTHURSDAY: NZD – Trade Balance.\r\n\r\nFRIDAY: N/A.\r\n\r\n<strong> </strong>\r\n\r\n<span style=\"font-size: 14pt;\"><strong> 10 FINAL THOUGHTS:</strong> </span>\r\n\r\nSome very interesting news items coming this week so we will have to be on our guard. Overriding this, I am much more interested in the fall out after last weeks turmoil and volatility.\r\n\r\nMy gut feeling tells me consolidation for a while, but geopolitical news could over shadow this thought that I have.\r\n\r\nIs the market still directional?\r\n\r\nIt should be but ahead of this directional trading resuming, in my opinion, we should see consolidation.\r\n\r\nFrom a trading perspective we should therefore, given the uncertainty and volatility, trade with smaller position sizes and wider stops.\r\n\r\nJust remember; always use the RISK MANAGEMENT principles outlined in the PREMIUM SERVICE web site TRADING ESSENTIALS section to ensure that you do not over-stretch your Forex account. Longevity in the Forex market is only achieved through strong TRADING DISCIPLINES that include effective and strategic POSITION SIZING.\r\n\r\nGood Luck.\r\n\r\nScott Pickering\r\nThe Pip Accumulator\r\nSaturday October 18th 2014\r\n\r\nEMAIL / FOLLOW ME AT:\r\npremiumservice@weeklyfxdrivethru.com\r\nTwitter: @pipaccumulator\r\nTwitter: @ThePremService\r\nGoogle+/scottpickering\r\n\r\n<strong>DISCLAIMER:</strong>\r\n\r\nFLASH, 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.','WHAT’S NEXT… DRAGHI’S RESIGNATION?','','publish','open','closed','','whats-next-draghis-resignation-2','','','2014-10-18 14:45:37','2014-10-18 19:45:37','',0,'https://weeklyfxdrivethru.com/?post_type=member_posts&#038;p=4589',0,'member_posts','',0);
INSERT INTO `vp_backup_wp_posts` VALUES (4590,1,'2014-10-18 14:43:55','2014-10-18 19:43:55','<strong> </strong>\r\n<ol>\r\n	<li><span style=\"font-size: 14pt;\"><strong> INTRODUCTION:</strong></span></li>\r\n</ol>\r\n<strong>“Holy smokes… was that a week of volatility or what?”</strong>\r\n\r\nThe above was how I started last week’s blog. That was nothing in terms of volatility compared to what we saw last Wednesday and Thursday. That was real volatility.\r\n\r\nDuring the last 72 hours or so, I have had several emails and twitter exchanges with PREMIUM SERVICE subscribers about what happened and why there was such a dramatic chain of events so quickly.\r\n\r\nFrom my perspective it was a number of factors all hitting at the same time and FEAR took over.\r\n\r\n(PREMIUM SERVICE subscribers will be well versed in my thoughts on the two primary drivers of the Forex markets; FEAR and GREED. I have several articles in the PREMIUM SERVICE library under the section TRADING ESSENTIALS that refer to FEAR and GREED).\r\n\r\nThe contributing factors in my opinion were: -\r\n<ol>\r\n	<li>We have been in a one sided market for the better part of six years.</li>\r\n	<li>Only very recently have the bears raised their heads.</li>\r\n	<li>The FED is ending Quantitative Easing (QE).</li>\r\n	<li>The ECB is as effective as a “Headless chicken running around a farmyard”. Draghi is too weak to do anything other than talk. Germany runs the EUROZONE and the ECB. Germany does NOT want Quantitative Easing (QE).</li>\r\n	<li>The FED and ECB are on divergent monetary policies. The FED tightening and ECB loosening.</li>\r\n	<li>WTi (OIL) was close to key $80.00 support.</li>\r\n	<li>EBOLA.</li>\r\n	<li>ISIS.</li>\r\n	<li>Russian sanctions.</li>\r\n	<li>Russia / Ukraine issues.</li>\r\n</ol>\r\nAbove there are 10 reasons / factors that spring to my mind immediately.\r\n\r\nLet me add factor number 11 below: -\r\n\r\nNow lets face simple facts. Most traders in the equity markets know nothing about a two-sided market as the experienced ones from the past have moved on. All the present incumbents know is “BUY THE DIP”…”BUY THE DIP”…”BUY THE FECK** DIP”. Therefore, FEAR will be something they do NOT react to very well. They also believe, probably correctly that the FED will ultimately step in and backstop them at some stage. They see their jobs as “jobs for the boys”… Stock markets (in particular the U.S. because of the 401K mentality) will always be supportive irrespective of company valuations, which are extreme in many cases… I have NOT said the word bubble yet…I will save that for another blog.\r\n\r\nGiven these factors, the domino effect takes over and FEAR rules. I know many of you will say bulls**t, but these are my thoughts. For the past three weeks, I have been referring to my blog of three weeks ago stating that a collapse in the equity markets was on the cards. If you have not read the previous blogs they are all on the welcome page of my website THE WEEKLY FX DRIVE THRU at www.weeklyfxdrivethru.com\r\n\r\nThe funniest FX event of the week took place Thursday evening (EDT). At about 18:30 EDT the NZD/USD collapsed about 70-100 pips on the back of a RBNZ release stating that the NZD was way over-valued and needed to be weakened to achieve the RBNZ fair value level. About 5 minutes later the release from the RBNZ was withdrawn stating that is was an old data press release and was leaked in error. The NZD/USD gave back its entire move lower in about 5 minutes.\r\n\r\nTherefore…. Mr. Wheeler, governor of the RBNZ… here’s what you do to bring down the value of the NZD.\r\n\r\n<em>Apparently, the markets are NOT clever enough to distinguish between old and new economic data releases. Pick out some old RBNZ minutes saying that you are going to intervene directly into the Forex market. Then release them once a week and inside 4 months you will have your desired NZD exchange rate in the NZD/USD. Throw in the odd personal appearance for good measure. This is, simple, clear, unambiguous guidance to the RBNZ from me… you are most welcome my invoice is in the mail.</em>\r\n\r\nI spent the last couple of days, sidelined doing voyeur trades and nursing some open trades from the Wednesday fallout…still doing that now!\r\n\r\n<strong> </strong>\r\n<ol start=\"2\">\r\n	<li><strong><span style=\"font-size: 14pt;\"> THE PREMIUM SERVICE: – </span>\r\n\r\n</strong></li>\r\n</ol>\r\n<p style=\"text-align: center;\"><span style=\"font-size: 12pt;\"><strong>OVERVIEW, TRADING ACTIVITY, NEWS UPDATE &amp; MONTHLY AND\r\n</strong><strong>YEAR TO DATE TRADING SUMMARIES:</strong></span></p>\r\n<span style=\"text-decoration: underline;\">2.1 OVERVIEW:</span>\r\n\r\nFor 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 the page there are three drop down menus: PREMIUM SERVICE, SIGN-UP and DISCLAIMER. Further details and how to join are all contained there. You will need at PayPal account to subscribe.\r\n\r\n<span style=\"text-decoration: underline;\">2.2 TRADING ACTIVITY:</span>\r\n\r\nWhat a week for trading. It was so fast and furious on Wednesday, I scalped trades “OFF / AWAY” from the PREMIUM SERVICE as it was just impossible to trade / communicate / tweet when things were moving so fast.\r\n\r\nThankfully, as regular followers know, when I trade my FUNDAMENTAL TRADE set-ups these trades are HEDGED from losses between 100 and 150 pips. Everything was hedged last Wednesday. I sat in very large loss trades through Wednesday / Thursday as I scalped away from my core trades. On Thursday morning when commodity crosses ripped higher I exited 4/5 trades with nice profits.\r\n\r\nNow, I just have 3 LIVE trades left all are hedged. My maximum loss would be 325 pips, which is well within my RISK MANAGEMENT and RISK TOLERANCE guidelines.\r\n\r\n(Further details on HEDGING, RISK TOLERANCE and RISK MANAGEMENT can be found inside the PREMIUM SERVICE under TRADING ESSENTIALS)\r\n\r\nHowever, after all that drama, at the end of the week, I had nice trading profits. During the week from single lot trades more than 600 pips were generated, which is in line with my objectives. Obviously, those who trade multi-lot would have generated a further extra income over and above the amounts quoted. I hope that my PREMIUM SERVICE subscribers benefited greatly from these set-ups as well.\r\n\r\n<span style=\"text-decoration: underline;\">2.3 MONTHLY AND YEAR TO DATE TRADING SUMMARIES<strong>:</strong></span>\r\n\r\nBelow I show the up to date performances for my various trading styles. Full excel spreadsheets are in the subscriber area of the PREMIUM SERVICE website.\r\n\r\nBelow are the excel spreadsheets covering this month so far and the year 2014 to date.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/10/PREM-SERV-PROFITS1-18102014.png\"><img class=\"aligncenter size-full wp-image-4579\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/10/PREM-SERV-PROFITS1-18102014.png\" alt=\"PREM SERV PROFITS1 18102014\" width=\"448\" height=\"421\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/10/PREM-SERV-PROFITS-2-18102014.png\"><img class=\"aligncenter size-full wp-image-4580\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/10/PREM-SERV-PROFITS-2-18102014.png\" alt=\"PREM SERV PROFITS 2 18102014\" width=\"458\" height=\"417\" /></a>\r\n\r\n<span style=\"text-decoration: underline;\">PLEASE NOTE:</span>\r\n\r\nThe above examples in sections 2.2 and 2.3 are for illustration purposes only. The profitability examples detailed above are based solely upon single lot trading, regardless of lot type. If multiple lot sizes are traded the profitability margins will be different than those shown.\r\n\r\nJust to provide more information so you understand where I am coming from with the risk / reward statements above. All of my trades are of different sizes and different size lot types. The above does not reflect the actual trading performance, but it does show you the direction of the performance of the trades placed. I like to add to trades, profits are taken as the trade progresses and my overall cost average moves several times. All of my trades are of different lot styles. I trade a mixture of micro lots, mini lots and standard lots across my brokers.\r\n\r\nThe above results simply display your profit or loss if you placed a single lot trade on all the set-ups suggested and did nothing else.\r\n\r\nYou must always remember to follow properly executed RISK MANAGEMENT and POSITION SIZING disciplines with all your trades and remember that Forex trading with a high degree of leverage can significantly increase your profits and losses. You should trade with a TRADE PLAN and NOT risk monies that you cannot afford to lose.\r\n\r\n<strong> </strong>\r\n<ol start=\"3\">\r\n	<li><span style=\"font-size: 14pt;\"><strong> THE FUNDAMENTAL TRADERS OVERVIEW:</strong></span></li>\r\n</ol>\r\nI am NOT going to talk about dominoes this week, or refer to my previous blogs about dominoes.\r\n\r\n&nbsp;\r\n<p style=\"text-align: center;\"><span style=\"font-size: 12pt;\"><strong>WHATS’S NEXT… DRAGHI’S RESIGNATION?</strong></span></p>\r\nThe title if nothing else will attract a few more readers.\r\n\r\nSince I started writing blogs three years ago, I have been a constant skeptic about the EUROZONE, not the trading community, I think that is an excellent idea in many areas, laughable in others.\r\n\r\nMy skepticism emanates from the single currency.\r\n\r\nI have written so many times that 18 counties or so using the same chequebook just will not work. One central bank (the ECB) trying to do what’s best for 18 countries all with different issues / problems is just impossible. It is further exacerbated by the fact that there is one super almighty economic powerhouse within the single currency (Germany) that has power, money and greater financial stability than most of the other member countries.\r\n\r\nWhen, the world suffered through the financial crash of 2008, the FED, BOE and BOJ sought Quantitative Easing (QE) as the route to support their equity markets. The ECB through a German order used austerity. Lets make the people pay more taxes, reduce services… make the bastards suffer.\r\n\r\nWell that didn’t work…\r\n\r\nEight years later the FED and BOE are looking at raising rates, probably the FED sooner than the BOE (proximity issues to Europe, could affect the BOE more than we think).\r\n\r\nWhere is the EUROZONE now…six years later?\r\n\r\nMore fecked up than ever before…\r\n\r\nEven Germany is now releasing poor economic data. The periphery countries, ITALY, SPAIN, GREECE, PORTUGAL, IRELAND and CYPRUS are still struggling after bailouts to get their economies motoring. Economic growth is one of the major issues, no growth, DEFLATION… or as the ECB says DIS-INFLATION… call a spade a spade - it is what it is DEFLATION.\r\n\r\nNow at this point, I could lay down a plethora of economic data from the EUROZONE countries, but I am going to be selective but wide ranging at the same time in the chart below.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/10/EZ-ECON-DATA-18102014.png\"><img class=\"aligncenter size-full wp-image-4586\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/10/EZ-ECON-DATA-18102014.png\" alt=\"EZ ECON DATA 18102014\" width=\"719\" height=\"493\" /></a>\r\n\r\n&nbsp;\r\n\r\nStatistics such as those above can be manipulated in numerous different ways and as Forex traders reading and interpreting economic data on a daily basis as well as observing politicians in action, I need say no more on this topic.\r\n\r\nHowever, six years on and with people suffering through Austerity measures, I ask the question how far has the EUROZONE progressed.\r\n\r\nHere are my highlights: -\r\n<ol>\r\n	<li>Unemployment stubbornly high in Spain and Greece.</li>\r\n	<li>Debt to GDP – Italy, Ireland, Portugal, Greece and Cyprus way too high.</li>\r\n	<li>Retail Sales – very patchy</li>\r\n	<li>Consumer Confidence numbers are in the main below 100.</li>\r\n	<li>PMi statistics are patchy. By now the averages should be well above contracting levels of sub 50. Germany now below 50. This has all the signs of RECCESSION on the cards in the near future.</li>\r\n	<li>GDP – there is zero inflation in the EUROZONE. The target has been revised down and down again and even now the area average is 0.70% against the latest lowball revision of 1.2%. This equals DEFLATION.\r\n\r\nPlus,</li>\r\n	<li>The high exchange rate of the EUR against it’s key trading partners the USA and Japan in particular. This is making exports very expensive and uncompetitive.</li>\r\n</ol>\r\n&nbsp;\r\n\r\nThe world in generally on a slowdown (its not just the EUROZONE), consumer confidence worldwide is low…. consumers are generally not spending (USA, UK and Japan following Sales Tax hike)… if no one buys why produce finished goods… if you are now producing finished goods … why buy raw materials? Hence the Manufacturing PMi issues in Germany.\r\n\r\nSix years on and the ECB and the politicians should be patting themselves on the back for a job well done in the EUROZONE. Instead it is mainly a shambles.\r\n\r\nThe Financial sector was stabilized in the initial period after the 2008 crash, but, six years on there are still EUROZONE bank stress tests being undertaken… give me a break shouldn\'t this have been resolved on first, second or maybe the third attempt of stress tests.\r\n\r\nThis sums up the EUROZONE, wishy-washy and totally 100% useless at completing anything effectively.\r\n\r\nDraghi is guilty of a lot of things and frankly, for six years he has been talking, talking and talking but has been very low on actual action. Apart from interest rates no extraordinary measures or unconventional measures have really been used to arrest the decline of the EUROZONE and tackle growth, unemployment or confidence.\r\n\r\nThe EUROZONE is now bordering on RECCESSION never mind struggling with DEFLATION.\r\n\r\nThis does NOT look good for the population living under the EUROZONE flag.\r\n\r\nIf there were no EUROZONE, could each individual country have tackled the problems better on their own rather than being under the constraints of a centralized policy governed allegedly by a central bank to represent all…. the ECB, which is basically, in my opinion, a sub-branch of the Bundesbank?\r\n\r\nPersonally, I think on their own most countries after the crash would have protected their financial systems and then revised their currency valuations probably against the USD to move forward. This is where the periphery countries in particular have suffered most. They have not been able to tackle issues head on, fix and move on, instead they are under a very tight fiscal regime, because that is how Germany operates.\r\n\r\nWhat next?\r\n\r\nUltimately, I think that the FED will rescue the EURZONE through a strengthening USD. However, this is not the point, a strong, direct and unambiguous Central Bank is paramount to give the people and the financial markets in the area or country it represents confidence. If a poll were undertaken today in the EUROZONE about the effectiveness of the ECB I would love to see the results.\r\n\r\nOne size does NOT fit all in this instance and a huge amount of financial pain and stress has been thrown at people for what? Six years of a non-event, back to square one.\r\n\r\nWe live in a results orientated society wanting instant gratification.\r\n\r\nThe master plan for the EUROZONE was hatched years ago over a glass of Chateauneuf du Pape, a bottle of Cognac and fine cigars. It was NOT thought properly through to cope with a mix of diverse multi cultures, with completely different ways of coping with and addressing core problems that face individual countries. Never mind what would happen if… scenarios put in place. This is hardly surprising when you look at the achievements of the EUROZONE.\r\n<p style=\"text-align: center;\"><strong>The effectiveness of the currency union is questionable in fact I think a failure.</strong></p>\r\n<p style=\"text-align: center;\"><strong>There is NO coordinated foreign policy in the EUROZONE.</strong></p>\r\n<p style=\"text-align: center;\"><strong>There is NO coordinated present or future energy plan in the EUROZONE.</strong></p>\r\n<p style=\"text-align: center;\"><strong>There is NO tax harmonization plan in the EUROZONE.</strong></p>\r\n<p style=\"text-align: center;\"><strong>There is NO “how to tackle” EUROZONE unemployment plan in the EUROZONE.</strong></p>\r\n<p style=\"text-align: center;\"><strong>There is NO universal social chapter, minimum wage, weekly working hours, retirement age agreement in the EUROZONE.</strong><strong> </strong></p>\r\nI am not saying that Draghi is single handedly responsible for the above, but he is a vital cog in the EUROZONE machine.\r\n\r\nIn my opinion, Draghi has failed in his areas of responsibility. I know people will say he has calmed the banking sector. But the banks do not lend. It\'s a failure. It is so much a failure he had to introduce negative deposit rates in a last ditch attempt to try and force the banks to lend again and to try and get some growth into ailing economies.\r\n\r\nHis tenure is a failure based on his inability to use his powers effectively or to persuade or demand powers to enable the ECB and himself to manage effectively. Either way; I think its time for him to say goodbye and move on, if he were a manager of a Barclays Premiership Football Team he would have been long gone by now.\r\n\r\nComing up he has another opportunity at the next press conference to deliver once and for all what the markets are demanding.\r\n\r\nA fully explained package of measures including: -\r\n\r\nQuantitative Easing (QE) that will drag the EUROZONE away from recession. He needs something dramatic like QE to reduce the EUR exchange rate to reduce export costs and in so doing this will make EUROZONE exports of finished goods and services cheaper to sell in the open market. This will provide employment, which will reduce the social burden and add more money to a countries tax income. If the increased tax income is used for larger scale infrastructure this will further reduce unemployment and increase the tax income and once again reduce the social burden.\r\n\r\nIf he talks at the next ECB Press Conference and once again “kicks the can down the road” and delivers no comprehensive action, then I think that he should step down.\r\n\r\nThis would be the first step in the break –up of the single currency union. The ECB has been shown up with all it’s shortcomings for the world to see.\r\n\r\nThe EUROZONE needs change and it needs a new fresh mandate for the ECB to allow it to function, it’s not just about Germany. Draghi has not fought the fight to do this.\r\n\r\nIn my opinion it\'s a long overdue time for him to move on and if at the next ECB Press Conference he does NOT deliver this would be the time to step aside.\r\n\r\n&nbsp;\r\n<ol start=\"4\">\r\n	<li><span style=\"font-size: 14pt;\"><strong> TRADER TOPICS:</strong></span></li>\r\n</ol>\r\n<p style=\"text-align: center;\"><span style=\"font-size: 12pt;\"><strong>HOW TO HANDLE YOUR FOREX TRADING WORRIES:</strong></span></p>\r\nWe all worry about things from time to time and worrying, as we know is to feel concerned or uncomfortable; oftentimes (but not always), in anticipation of a negative event or outcome. After all, we’re all human, and we have the basic need to avoid pain.\r\n\r\nFor traders, the major sources of psychological pain tend to involve losing capital and / or being on the wrong side of trades. Along with these issues, our worries can be compounded with concerns of missing trade opportunities or forgetting an important variable during analysis. The list can in fact, go on and on.\r\n\r\nIf NOT handled properly, worrying can become a big hurdle to success as it can lead to a host of different issues. For instance, have you ever impulsively changed your profit and stop loss levels only to find out that your original levels were correct in the first place? Because you let your worries of losing or being wrong get to you, you ended up not following your TRADE PLAN.\r\n\r\nFear and worrying redirects our focus from the situation at hand and we may end up making impulsive or irrational trade decisions. Even worse, sitting there worrying about something without taking action, can be unproductive and a plain waste of time.\r\n\r\nWorrying can be used as a signal for different issues: maybe you could have planned better, your position may be overleveraged, or maybe you may be avoiding a harsher reality outside of trading.\r\n\r\nIf you catch yourself worrying about the small details that you think you shouldn’t obsess about, ask yourself. “What am I really afraid of?”\r\n\r\nFor instance, let’s say you realise that you’ve been obsessing about your losing trade, which, is only 0.1% of your account, and then you have to ask yourself what it is you’re truly afraid of. Is it the future of your trading career? Your monthly mortgage payment?\r\n\r\nWhatever it may be, imagine yourself in this worst –case scenario and think about what you’re going to do if you were actually in it. Maybe if you outline your goals as a trader through your TRADE PLAN, you’d be able to relieve yourself of the anxiety and focus on more trading.\r\n\r\nThis self-critical exercise has a name it’s called VISUALIZATION and it may help give you more feeling of control over the situations that you’re dreading. VISUALIZATION can be another form of learning from experience, and with deliberate practice of this exercise when you worry, over time your fears will become less of a worry for you.<strong> </strong>\r\n\r\n<strong> </strong><strong> </strong>\r\n<ol start=\"5\">\r\n	<li><span style=\"font-size: 14pt;\"><strong> MY CURRENT LIVE TRADES:</strong></span></li>\r\n</ol>\r\n&nbsp;\r\n\r\n<strong>RADAR TRADES:\r\n\r\n</strong>There are no LIVE RADAR trades at the present time.\r\n\r\n<strong>FLASH TRADES:</strong>\r\n\r\nFT1190\r\nNZD/USD\r\nShort\r\nCost Average at: 0.7793\r\nStop at 0.7930\r\nLimit at 0.6580\r\nPresent Price: 0.7913\r\nCurrent Profit / Loss Position: -120 pips\r\n(This trade is hedged from a loss position of -100 pips)\r\n\r\nFT202\r\nUSD/CAD\r\nLong\r\nCost Average at: 1.1340\r\nStop at 1.1170\r\nLimit at 1.1570\r\nPresent Price: 1.1276\r\nCurrent Profit / Loss Position: -64 pips\r\n\r\n<strong>FUNDAMENTAL TRADES:</strong>\r\n\r\nFUN44\r\nGBP/NZD\r\nLong\r\nCost Average at: 2.0507\r\nStop at 1.9500\r\nLimit at 2.3200\r\nPresent Price: 2.0303\r\nCurrent Profit / Loss Position: -204 pips\r\n(This trade is hedged from a loss position of -125 pips)\r\n\r\n<strong> </strong><strong> </strong>\r\n<ol start=\"6\">\r\n	<li><span style=\"font-size: 14pt;\"><strong> TRADES THAT ARE ON MY RADAR:</strong></span></li>\r\n</ol>\r\nRT192\r\nAUD/USD\r\nSHORT\r\nEntry at: 0.8820\r\nStop at: 0.8870\r\nLimit at: 0.8650\r\n\r\nRT193\r\nNZD/USD\r\nSHORT\r\nEntry at: 0.7990\r\nStop at: 0.8030\r\nLimit at: 0.7800\r\n\r\n&nbsp;\r\n\r\nI will be looking around my charts tomorrow (Sunday) and into the small hours Monday morning.\r\n\r\nI want to get a feel for sentiment now that a very volatile week is behind us. I will tweet trade set-ups as I find them.\r\n\r\nMy focus will be Commodity crosses and Nordic currency pairs.<strong> </strong>\r\n\r\n<strong> </strong>\r\n<ol start=\"7\">\r\n	<li><span style=\"font-size: 14pt;\"><strong> LOOKING FORWARD…THE KEY SUPPORT &amp; RESISTANCE LEVELS WITH THE USD MAJORS:</strong></span></li>\r\n</ol>\r\n<strong>EUR/USD: Closing Price 1.2757.</strong> After a very eventful week, the EUR/USD ends the week not too far for where it started. Moving forward, I am uncertain as to how sentiment will play out early next week. Basically nothing has changed. The ECB and FED are on divergent monetary policies and as such the EUR should weaken moving forward. We may see some consolidation at present levels for a while and be somewhat range bound. The support level that interests me is 1.2650 and the resistance level at 1.2885.\r\n\r\n<strong>GBP/USD: Closing Price 1.6088</strong>. Like the EUR/USD; after a very eventful week literally no change in the closing weekly price. Am I bullish or am I bearish this pair? I am for once not sure. If push came to a shove I would have to say bearish. My reasons would be to look where it is following the Scottish referendum and following Carney’s Mansion House speech. It is a bit of wait and see for me with this pair, but there lies good support at 1.6020 and 1.6125 has nice resistance, in fact above 1.6130 and I think that there is a chance of a squeeze.<strong> </strong>\r\n\r\n<strong>AUD/USD: Closing Price 0.8748</strong>. Probably not to Glenn Stevens liking, but the AUD/USD will finish the week about 100 pips higher than last week. As long as we consolidate in equities after the turmoil the Aussie will stay inflated in my opinion. Support is at 0.8690 and resistance will be strong at 0.8825.\r\n\r\n<strong>NZD/USD: Closing Price 0.7913</strong>. Just like the Aussie about a 100 pips higher closing this week in comparison to last week. I am still bearish this pair, but I do find it very frustrating to trade at times. It is quite illiquid in comparison to other USD pairs and in the past it was quite directional. Now at times it’s a pain in the a**. Support for the coming sessions should be good at -.7850 and resistance should be strong at 0.8000.\r\n\r\n<strong>USD/CAD: Closing Price 1.1276.</strong> I am long the damn “loonie” again…why do I inflict this pain upon myself? In the immediate future we have a BOC rate decision, press conference and Interest Rate statement to contend with this Wednesday, never mind the price of a barrel of WTi. Support is at 1.1170 and resistance is at 1.1375.\r\n\r\n<strong>USD/CHF: Closing Price 0.9462</strong>. I couldn’t be bothered about this pair for a while, I wrote down 0.9400 on a post-it note to remind me to get long at this level. I should have placed a limit order with the brokers but I did not. It bounced nicely off 0.9400 about three times; I had three opportunities and took none of them. This pair is now destined to rocket to parity. Just in case it pulls back, will someone remind me to enter long at the support level of 0.9400? Resistance will be good at 0.9540.<strong> </strong>\r\n\r\n<strong>USD/JPY: Closing Price 106.87. </strong>I traded the EUR/JPY during the week twice and made $$$ twice. Those were my first JPY trades for quite sometime. Looking at the USD/JPY we have bounced very nicely off 105.00, back though 105.50 and beyond. Looking ahead I see support at 105.60 and resistance at 107.50.\r\n\r\n<strong> </strong>\r\n<ol start=\"8\">\r\n	<li><span style=\"font-size: 14pt;\"><strong> MAJOR TRADING PAIRS WITH LONGER-TERM TRENDS MATCHING:</strong></span></li>\r\n</ol>\r\nThe following currency pairs have Short Term (DAILY), Medium Term (WEEKLY) and Long Term (MONTHLY) charts all trending in the same direction.\r\n\r\n<span style=\"text-decoration: underline;\">LONG:</span>\r\n\r\nUSD/CAD\r\nUSD/NOK\r\n\r\n<span style=\"text-decoration: underline;\">SHORT</span>:\r\n\r\nThere are none.\r\n\r\nTraders take note of the above and compare this result with previous weeks. We could be on for a sentiment change hence my hesitation putting out a lot of set-ups.\r\n\r\n&nbsp;\r\n<ol start=\"9\">\r\n	<li><span style=\"font-size: 14pt;\"><strong> MAJOR FOREX NEWS THIS WEEK THAT INTERESTS ME:</strong></span></li>\r\n</ol>\r\n<strong> </strong>\r\n\r\nSUNDAY: N/A.\r\n\r\nMONDAY: AUD – Monetary Policy Meeting Minutes.\r\nMONDAY: CNY – GDP and Industrial Production.\r\n\r\nTUESDAY: AUD - CPi.\r\n\r\nWEDNESDAY: CAD – Core Retail Sales, BOC Rate Decision, Press Conference\r\nWEDNESDAY: AUD – Glenn Stevens speaks.\r\nWEDNESDAY: NZD – CPi.\r\nWEDNESDAY: CNY – HSBC Flash Manufacturing PMi.\r\n\r\nTHURSDAY: EUR – French &amp; German Flash Manufacturing PMi.\r\nTHURSDAY: GBP – Retail Sales.\r\nTHURSDAY: NZD – Trade Balance.\r\n\r\nFRIDAY: N/A.\r\n\r\n<strong> </strong>\r\n\r\n<span style=\"font-size: 14pt;\"><strong> 10 FINAL THOUGHTS:</strong> </span>\r\n\r\nSome very interesting news items coming this week so we will have to be on our guard. Overriding this, I am much more interested in the fall out after last weeks turmoil and volatility.\r\n\r\nMy gut feeling tells me consolidation for a while, but geopolitical news could over shadow this thought that I have.\r\n\r\nIs the market still directional?\r\n\r\nIt should be but ahead of this directional trading resuming, in my opinion, we should see consolidation.\r\n\r\nFrom a trading perspective we should therefore, given the uncertainty and volatility, trade with smaller position sizes and wider stops.\r\n\r\nJust remember; always use the RISK MANAGEMENT principles outlined in the PREMIUM SERVICE web site TRADING ESSENTIALS section to ensure that you do not over-stretch your Forex account. Longevity in the Forex market is only achieved through strong TRADING DISCIPLINES that include effective and strategic POSITION SIZING.\r\n\r\nGood Luck.\r\n\r\nScott Pickering\r\nThe Pip Accumulator\r\nSaturday October 18th 2014\r\n\r\nEMAIL / FOLLOW ME AT:\r\npremiumservice@weeklyfxdrivethru.com\r\nTwitter: @pipaccumulator\r\nTwitter: @ThePremService\r\nGoogle+/scottpickering\r\n\r\n<strong>DISCLAIMER:</strong>\r\n\r\nFLASH, 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.','WHAT’S NEXT… DRAGHI’S RESIGNATION?','','inherit','open','closed','','4589-revision-v1','','','2014-10-18 14:43:55','2014-10-18 19:43:55','',4589,'https://weeklyfxdrivethru.com/4589-revision-v1/',0,'revision','',0),(4591,1,'2014-10-18 14:45:37','2014-10-18 19:45:37','<strong> </strong>\r\n<ol>\r\n	<li><span style=\"font-size: 14pt;\"><strong> INTRODUCTION:</strong></span></li>\r\n</ol>\r\n<strong>“Holy smokes… was that a week of volatility or what?”</strong>\r\n\r\nThe above was how I started last week’s blog. That was nothing in terms of volatility compared to what we saw last Wednesday and Thursday. That was real volatility.\r\n\r\nDuring the last 72 hours or so, I have had several emails and twitter exchanges with PREMIUM SERVICE subscribers about what happened and why there was such a dramatic chain of events so quickly.\r\n\r\nFrom my perspective it was a number of factors all hitting at the same time and FEAR took over.\r\n\r\n(PREMIUM SERVICE subscribers will be well versed in my thoughts on the two primary drivers of the Forex markets; FEAR and GREED. I have several articles in the PREMIUM SERVICE library under the section TRADING ESSENTIALS that refer to FEAR and GREED).\r\n\r\nThe contributing factors in my opinion were: -\r\n<ol>\r\n	<li>We have been in a one sided market for the better part of six years.</li>\r\n	<li>Only very recently have the bears raised their heads.</li>\r\n	<li>The FED is ending Quantitative Easing (QE).</li>\r\n	<li>The ECB is as effective as a “Headless chicken running around a farmyard”. Draghi is too weak to do anything other than talk. Germany runs the EUROZONE and the ECB. Germany does NOT want Quantitative Easing (QE).</li>\r\n	<li>The FED and ECB are on divergent monetary policies. The FED tightening and ECB loosening.</li>\r\n	<li>WTi (OIL) was close to key $80.00 support.</li>\r\n	<li>EBOLA.</li>\r\n	<li>ISIS.</li>\r\n	<li>Russian sanctions.</li>\r\n	<li>Russia / Ukraine issues.</li>\r\n</ol>\r\nAbove there are 10 reasons / factors that spring to my mind immediately.\r\n\r\nLet me add factor number 11 below: -\r\n\r\nNow lets face simple facts. Most traders in the equity markets know nothing about a two-sided market as the experienced ones from the past have moved on. All the present incumbents know is “BUY THE DIP”…”BUY THE DIP”…”BUY THE FECK** DIP”. Therefore, FEAR will be something they do NOT react to very well. They also believe, probably correctly that the FED will ultimately step in and backstop them at some stage. They see their jobs as “jobs for the boys”… Stock markets (in particular the U.S. because of the 401K mentality) will always be supportive irrespective of company valuations, which are extreme in many cases… I have NOT said the word bubble yet…I will save that for another blog.\r\n\r\nGiven these factors, the domino effect takes over and FEAR rules. I know many of you will say bulls**t, but these are my thoughts. For the past three weeks, I have been referring to my blog of three weeks ago stating that a collapse in the equity markets was on the cards. If you have not read the previous blogs they are all on the welcome page of my website THE WEEKLY FX DRIVE THRU at www.weeklyfxdrivethru.com\r\n\r\nThe funniest FX event of the week took place Thursday evening (EDT). At about 18:30 EDT the NZD/USD collapsed about 70-100 pips on the back of a RBNZ release stating that the NZD was way over-valued and needed to be weakened to achieve the RBNZ fair value level. About 5 minutes later the release from the RBNZ was withdrawn stating that is was an old data press release and was leaked in error. The NZD/USD gave back its entire move lower in about 5 minutes.\r\n\r\nTherefore…. Mr. Wheeler, governor of the RBNZ… here’s what you do to bring down the value of the NZD.\r\n\r\n<em>Apparently, the markets are NOT clever enough to distinguish between old and new economic data releases. Pick out some old RBNZ minutes saying that you are going to intervene directly into the Forex market. Then release them once a week and inside 4 months you will have your desired NZD exchange rate in the NZD/USD. Throw in the odd personal appearance for good measure. This is, simple, clear, unambiguous guidance to the RBNZ from me… you are most welcome my invoice is in the mail.</em>\r\n\r\nI spent the last couple of days, sidelined doing voyeur trades and nursing some open trades from the Wednesday fallout…still doing that now!\r\n\r\n<strong> </strong>\r\n<ol start=\"2\">\r\n	<li><strong></strong><strong><span style=\"font-size: 14pt;\"> THE PREMIUM SERVICE: – </span></strong>&nbsp;</li>\r\n</ol>\r\n<p style=\"text-align: center;\"><span style=\"font-size: 12pt;\"><strong>OVERVIEW, TRADING ACTIVITY, NEWS UPDATE &amp; MONTHLY AND\r\n</strong><strong>YEAR TO DATE TRADING SUMMARIES:</strong></span></p>\r\n<span style=\"text-decoration: underline;\">2.1 OVERVIEW:</span>\r\n\r\nFor 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 the page there are three drop down menus: PREMIUM SERVICE, SIGN-UP and DISCLAIMER. Further details and how to join are all contained there. You will need at PayPal account to subscribe.\r\n\r\n<span style=\"text-decoration: underline;\">2.2 TRADING ACTIVITY:</span>\r\n\r\nWhat a week for trading. It was so fast and furious on Wednesday, I scalped trades “OFF / AWAY” from the PREMIUM SERVICE as it was just impossible to trade / communicate / tweet when things were moving so fast.\r\n\r\nThankfully, as regular followers know, when I trade my FUNDAMENTAL TRADE set-ups these trades are HEDGED from losses between 100 and 150 pips. Everything was hedged last Wednesday. I sat in very large loss trades through Wednesday / Thursday as I scalped away from my core trades. On Thursday morning when commodity crosses ripped higher I exited 4/5 trades with nice profits.\r\n\r\nNow, I just have 3 LIVE trades left all are hedged. My maximum loss would be 325 pips, which is well within my RISK MANAGEMENT and RISK TOLERANCE guidelines.\r\n\r\n(Further details on HEDGING, RISK TOLERANCE and RISK MANAGEMENT can be found inside the PREMIUM SERVICE under TRADING ESSENTIALS)\r\n\r\nHowever, after all that drama, at the end of the week, I had nice trading profits. During the week from single lot trades more than 600 pips were generated, which is in line with my objectives. Obviously, those who trade multi-lot would have generated a further extra income over and above the amounts quoted. I hope that my PREMIUM SERVICE subscribers benefited greatly from these set-ups as well.\r\n\r\n<span style=\"text-decoration: underline;\">2.3 MONTHLY AND YEAR TO DATE TRADING SUMMARIES<strong>:</strong></span>\r\n\r\nBelow I show the up to date performances for my various trading styles. Full excel spreadsheets are in the subscriber area of the PREMIUM SERVICE website.\r\n\r\nBelow are the excel spreadsheets covering this month so far and the year 2014 to date.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/10/PREM-SERV-PROFITS1-18102014.png\"><img class=\"aligncenter size-full wp-image-4579\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/10/PREM-SERV-PROFITS1-18102014.png\" alt=\"PREM SERV PROFITS1 18102014\" width=\"448\" height=\"421\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/10/PREM-SERV-PROFITS-2-18102014.png\"><img class=\"aligncenter size-full wp-image-4580\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/10/PREM-SERV-PROFITS-2-18102014.png\" alt=\"PREM SERV PROFITS 2 18102014\" width=\"458\" height=\"417\" /></a>\r\n\r\n<span style=\"text-decoration: underline;\">PLEASE NOTE:</span>\r\n\r\nThe above examples in sections 2.2 and 2.3 are for illustration purposes only. The profitability examples detailed above are based solely upon single lot trading, regardless of lot type. If multiple lot sizes are traded the profitability margins will be different than those shown.\r\n\r\nJust to provide more information so you understand where I am coming from with the risk / reward statements above. All of my trades are of different sizes and different size lot types. The above does not reflect the actual trading performance, but it does show you the direction of the performance of the trades placed. I like to add to trades, profits are taken as the trade progresses and my overall cost average moves several times. All of my trades are of different lot styles. I trade a mixture of micro lots, mini lots and standard lots across my brokers.\r\n\r\nThe above results simply display your profit or loss if you placed a single lot trade on all the set-ups suggested and did nothing else.\r\n\r\nYou must always remember to follow properly executed RISK MANAGEMENT and POSITION SIZING disciplines with all your trades and remember that Forex trading with a high degree of leverage can significantly increase your profits and losses. You should trade with a TRADE PLAN and NOT risk monies that you cannot afford to lose.\r\n\r\n<strong> </strong>\r\n<ol start=\"3\">\r\n	<li><span style=\"font-size: 14pt;\"><strong> THE FUNDAMENTAL TRADERS OVERVIEW:</strong></span></li>\r\n</ol>\r\nI am NOT going to talk about dominoes this week, or refer to my previous blogs about dominoes.\r\n\r\n&nbsp;\r\n<p style=\"text-align: center;\"><span style=\"font-size: 12pt;\"><strong>WHATS’S NEXT… DRAGHI’S RESIGNATION?</strong></span></p>\r\nThe title if nothing else will attract a few more readers.\r\n\r\nSince I started writing blogs three years ago, I have been a constant skeptic about the EUROZONE, not the trading community, I think that is an excellent idea in many areas, laughable in others.\r\n\r\nMy skepticism emanates from the single currency.\r\n\r\nI have written so many times that 18 counties or so using the same chequebook just will not work. One central bank (the ECB) trying to do what’s best for 18 countries all with different issues / problems is just impossible. It is further exacerbated by the fact that there is one super almighty economic powerhouse within the single currency (Germany) that has power, money and greater financial stability than most of the other member countries.\r\n\r\nWhen, the world suffered through the financial crash of 2008, the FED, BOE and BOJ sought Quantitative Easing (QE) as the route to support their equity markets. The ECB through a German order used austerity. Lets make the people pay more taxes, reduce services… make the bastards suffer.\r\n\r\nWell that didn’t work…\r\n\r\nEight years later the FED and BOE are looking at raising rates, probably the FED sooner than the BOE (proximity issues to Europe, could affect the BOE more than we think).\r\n\r\nWhere is the EUROZONE now…six years later?\r\n\r\nMore fecked up than ever before…\r\n\r\nEven Germany is now releasing poor economic data. The periphery countries, ITALY, SPAIN, GREECE, PORTUGAL, IRELAND and CYPRUS are still struggling after bailouts to get their economies motoring. Economic growth is one of the major issues, no growth, DEFLATION… or as the ECB says DIS-INFLATION… call a spade a spade - it is what it is DEFLATION.\r\n\r\nNow at this point, I could lay down a plethora of economic data from the EUROZONE countries, but I am going to be selective but wide ranging at the same time in the chart below.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/10/EZ-ECON-DATA-18102014.png\"><img class=\"aligncenter size-full wp-image-4586\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/10/EZ-ECON-DATA-18102014.png\" alt=\"EZ ECON DATA 18102014\" width=\"719\" height=\"493\" /></a>\r\n\r\n&nbsp;\r\n\r\nStatistics such as those above can be manipulated in numerous different ways and as Forex traders reading and interpreting economic data on a daily basis as well as observing politicians in action, I need say no more on this topic.\r\n\r\nHowever, six years on and with people suffering through Austerity measures, I ask the question how far has the EUROZONE progressed.\r\n\r\nHere are my highlights: -\r\n<ol>\r\n	<li>Unemployment stubbornly high in Spain and Greece.</li>\r\n	<li>Debt to GDP – Italy, Ireland, Portugal, Greece and Cyprus way too high.</li>\r\n	<li>Retail Sales – very patchy</li>\r\n	<li>Consumer Confidence numbers are in the main below 100.</li>\r\n	<li>PMi statistics are patchy. By now the averages should be well above contracting levels of sub 50. Germany now below 50. This has all the signs of RECESSION on the cards in the near future.</li>\r\n	<li>GDP – there is zero inflation in theEUROZONE. The targethas been revised down and down again and even now the area average is 0.70% against the latest lowball revision of 1.2%. This equals DEFLATION.Plus,</li>\r\n	<li>The high exchange rate of the EUR against it’s key trading partners the USA and Japan in particular. This is making exports very expensive and uncompetitive.</li>\r\n</ol>\r\n&nbsp;\r\n\r\nThe world in generally on a slowdown (its not just the EUROZONE), consumer confidence worldwide is low…. consumers are generally not spending (USA, UK and Japan following Sales Tax hike)… if no one buys why produce finished goods… if you are now producing finished goods … why buy raw materials? Hence the Manufacturing PMi issues in Germany.\r\n\r\nSix years on and the ECB and the politicians should be patting themselves on the back for a job well done in the EUROZONE. Instead it is mainly a shambles.\r\n\r\nThe Financial sector was stabilized in the initial period after the 2008 crash, but, six years on there are still EUROZONE bank stress tests being undertaken… give me a break shouldn\'t this have been resolved on first, second or maybe the third attempt of stress tests.\r\n\r\nThis sums up the EUROZONE, wishy-washy and totally 100% useless at completing anything effectively.\r\n\r\nDraghi is guilty of a lot of things and frankly, for six years he has been talking, talking and talking but has been very low on actual action. Apart from interest rates no extraordinary measures or unconventional measures have really been used to arrest the decline of the EUROZONE and tackle growth, unemployment or confidence.\r\n\r\nThe EUROZONE is now bordering on RECESSION never mind struggling with DEFLATION.\r\n\r\nThis does NOT look good for the population living under the EUROZONE flag.\r\n\r\nIf there were no EUROZONE, could each individual country have tackled the problems better on their own rather than being under the constraints of a centralized policy governed allegedly by a central bank to represent all…. the ECB, which is basically, in my opinion, a sub-branch of the Bundesbank?\r\n\r\nPersonally, I think on their own most countries after the crash would have protected their financial systems and then revised their currency valuations probably against the USD to move forward. This is where the periphery countries in particular have suffered most. They have not been able to tackle issues head on, fix and move on, instead they are under a very tight fiscal regime, because that is how Germany operates.\r\n\r\nWhat next?\r\n\r\nUltimately, I think that the FED will rescue the EUROZONE through a strengthening USD. However, this is not the point, a strong, direct and unambiguous Central Bank is paramount to give the people and the financial markets in the area or country it represents confidence. If a poll were undertaken today in the EUROZONE about the effectiveness of the ECB I would love to see the results.\r\n\r\nOne size does NOT fit all in this instance and a huge amount of financial pain and stress has been thrown at people for what? Six years of a non-event, back to square one.\r\n\r\nWe live in a results orientated society wanting instant gratification.\r\n\r\nThe master plan for the EUROZONE was hatched years ago over a glass of Chateauneuf du Pape, a bottle of Cognac and fine cigars. It was NOT thought properly through to cope with a mix of diverse multi cultures, with completely different ways of coping with and addressing core problems that face individual countries. Never mind what would happen if… scenarios put in place. This is hardly surprising when you look at the achievements of the EUROZONE.\r\n<p style=\"text-align: center;\"><strong>The effectiveness of the currency union is questionable in fact I think a failure.</strong></p>\r\n<p style=\"text-align: center;\"><strong>There is NO coordinated foreign policy in the EUROZONE.</strong></p>\r\n<p style=\"text-align: center;\"><strong>There is NO coordinated present or future energy plan in the EUROZONE.</strong></p>\r\n<p style=\"text-align: center;\"><strong>There is NO tax harmonization plan in the EUROZONE.</strong></p>\r\n<p style=\"text-align: center;\"><strong>There is NO “how to tackle” EUROZONE unemployment plan in the EUROZONE.</strong></p>\r\n<p style=\"text-align: center;\"><strong>There is NO universal social chapter, minimum wage, weekly working hours, retirement age agreement in the EUROZONE.</strong><strong> </strong></p>\r\nI am not saying that Draghi is single handedly responsible for the above, but he is a vital cog in the EUROZONE machine.\r\n\r\nIn my opinion, Draghi has failed in his areas of responsibility. I know people will say he has calmed the banking sector. But the banks do not lend. It\'s a failure. It is so much a failure he had to introduce negative deposit rates in a last ditch attempt to try and force the banks to lend again and to try and get some growth into ailing economies.\r\n\r\nHis tenure is a failure based on his inability to use his powers effectively or to persuade or demand powers to enable the ECB and himself to manage effectively. Either way; I think its time for him to say goodbye and move on, if he were a manager of a Barclays Premiership Football Team he would have been long gone by now.\r\n\r\nComing up he has another opportunity at the next press conference to deliver once and for all what the markets are demanding.\r\n\r\nA fully explained package of measures including: -\r\n\r\nQuantitative Easing (QE) that will drag the EUROZONE away from recession. He needs something dramatic like QE to reduce the EUR exchange rate to reduce export costs and in so doing this will make EUROZONE exports of finished goods and services cheaper to sell in the open market. This will provide employment, which will reduce the social burden and add more money to a countries tax income. If the increased tax income is used for larger scale infrastructure this will further reduce unemployment and increase the tax income and once again reduce the social burden.\r\n\r\nIf he talks at the next ECB Press Conference and once again “kicks the can down the road” and delivers no comprehensive action, then I think that he should step down.\r\n\r\nThis would be the first step in the break –up of the single currency union. The ECB has been shown up with all it’s shortcomings for the world to see.\r\n\r\nThe EUROZONE needs change and it needs a new fresh mandate for the ECB to allow it to function, it’s not just about Germany. Draghi has not fought the fight to do this.\r\n\r\nIn my opinion it\'s a long overdue time for him to move on and if at the next ECB Press Conference he does NOT deliver this would be the time to step aside.\r\n\r\n&nbsp;\r\n<ol start=\"4\">\r\n	<li><span style=\"font-size: 14pt;\"><strong> TRADER TOPICS:</strong></span></li>\r\n</ol>\r\n<p style=\"text-align: center;\"><span style=\"font-size: 12pt;\"><strong>HOW TO HANDLE YOUR FOREX TRADING WORRIES:</strong></span></p>\r\nWe all worry about things from time to time and worrying, as we know is to feel concerned or uncomfortable; oftentimes (but not always), in anticipation of a negative event or outcome. After all, we’re all human, and we have the basic need to avoid pain.\r\n\r\nFor traders, the major sources of psychological pain tend to involve losing capital and / or being on the wrong side of trades. Along with these issues, our worries can be compounded with concerns of missing trade opportunities or forgetting an important variable during analysis. The list can in fact, go on and on.\r\n\r\nIf NOT handled properly, worrying can become a big hurdle to success as it can lead to a host of different issues. For instance, have you ever impulsively changed your profit and stop loss levels only to find out that your original levels were correct in the first place? Because you let your worries of losing or being wrong get to you, you ended up not following your TRADE PLAN.\r\n\r\nFear and worrying redirects our focus from the situation at hand and we may end up making impulsive or irrational trade decisions. Even worse, sitting there worrying about something without taking action, can be unproductive and a plain waste of time.\r\n\r\nWorrying can be used as a signal for different issues: maybe you could have planned better, your position may be over leveraged, or maybe you may be avoiding a harsher reality outside of trading.\r\n\r\nIf you catch yourself worrying about the small details that you think you shouldn’t obsess about, ask yourself. “What am I really afraid of?”\r\n\r\nFor instance, let’s say you realise that you’ve been obsessing about your losing trade, which, is only 0.1% of your account, and then you have to ask yourself what it is you’re truly afraid of. Is it the future of your trading career? Your monthly mortgage payment?\r\n\r\nWhatever it may be, imagine yourself in this worst –case scenario and think about what you’re going to do if you were actually in it. Maybe if you outline your goals as a trader through your TRADE PLAN, you’d be able to relieve yourself of the anxiety and focus on more trading.\r\n\r\nThis self-critical exercise has a name it’s called VISUALIZATION and it may help give you more feeling of control over the situations that you’re dreading. VISUALIZATION can be another form of learning from experience, and with deliberate practice of this exercise when you worry, over time your fears will become less of a worry for you.<strong> </strong>\r\n\r\n<strong> </strong><strong> </strong>\r\n<ol start=\"5\">\r\n	<li><span style=\"font-size: 14pt;\"><strong> MY CURRENT LIVE TRADES:</strong></span></li>\r\n</ol>\r\n&nbsp;\r\n\r\n<strong>RADAR TRADES:</strong>\r\n\r\nThere are no LIVE RADAR trades at the present time.\r\n\r\n<strong>FLASH TRADES:</strong>\r\n\r\nFT1190\r\nNZD/USD\r\nShort\r\nCost Average at: 0.7793\r\nStop at 0.7930\r\nLimit at 0.6580\r\nPresent Price: 0.7913\r\nCurrent Profit / Loss Position: -120 pips\r\n(This trade is hedged from a loss position of -100 pips)\r\n\r\nFT202\r\nUSD/CAD\r\nLong\r\nCost Average at: 1.1340\r\nStop at 1.1170\r\nLimit at 1.1570\r\nPresent Price: 1.1276\r\nCurrent Profit / Loss Position: -64 pips\r\n\r\n<strong>FUNDAMENTAL TRADES:</strong>\r\n\r\nFUN44\r\nGBP/NZD\r\nLong\r\nCost Average at: 2.0507\r\nStop at 1.9500\r\nLimit at 2.3200\r\nPresent Price: 2.0303\r\nCurrent Profit / Loss Position: -204 pips\r\n(This trade is hedged from a loss position of -125 pips)\r\n\r\n<strong> </strong><strong> </strong>\r\n<ol start=\"6\">\r\n	<li><span style=\"font-size: 14pt;\"><strong> TRADES THAT ARE ON MY RADAR:</strong></span></li>\r\n</ol>\r\nRT192\r\nAUD/USD\r\nSHORT\r\nEntry at: 0.8820\r\nStop at: 0.8870\r\nLimit at: 0.8650\r\n\r\nRT193\r\nNZD/USD\r\nSHORT\r\nEntry at: 0.7990\r\nStop at: 0.8030\r\nLimit at: 0.7800\r\n\r\n&nbsp;\r\n\r\nI will be looking around my charts tomorrow (Sunday) and into the small hours Monday morning.\r\n\r\nI want to get a feel for sentiment now that a very volatile week is behind us. I will tweet trade set-ups as I find them.\r\n\r\nMy focus will be Commodity crosses and Nordic currency pairs.<strong> </strong>\r\n\r\n<strong> </strong>\r\n<ol start=\"7\">\r\n	<li><span style=\"font-size: 14pt;\"><strong> LOOKING FORWARD…THE KEY SUPPORT &amp; RESISTANCE LEVELS WITH THE USD MAJORS:</strong></span></li>\r\n</ol>\r\n<strong>EUR/USD: Closing Price 1.2757.</strong> After a very eventful week, the EUR/USD ends the week not too far for where it started. Moving forward, I am uncertain as to how sentiment will play out early next week. Basically nothing has changed. The ECB and FED are on divergent monetary policies and as such the EUR should weaken moving forward. We may see some consolidation at present levels for a while and be somewhat range bound. The support level that interests me is 1.2650 and the resistance level at 1.2885.\r\n\r\n<strong>GBP/USD: Closing Price 1.6088</strong>. Like the EUR/USD; after a very eventful week literally no change in the closing weekly price. Am I bullish or am I bearish this pair? I am for once not sure. If push came to a shove I would have to say bearish. My reasons would be to look where it is following the Scottish referendum and following Carney’s Mansion House speech. It is a bit of wait and see for me with this pair, but there lies good support at 1.6020 and 1.6125 has nice resistance, in fact above 1.6130 and I think that there is a chance of a squeeze.<strong> </strong>\r\n\r\n<strong>AUD/USD: Closing Price 0.8748</strong>. Probably not to Glenn Stevens liking, but the AUD/USD will finish the week about 100 pips higher than last week. As long as we consolidate in equities after the turmoil the Aussie will stay inflated in my opinion. Support is at 0.8690 and resistance will be strong at 0.8825.\r\n\r\n<strong>NZD/USD: Closing Price 0.7913</strong>. Just like the Aussie about a 100 pips higher closing this week in comparison to last week. I am still bearish this pair, but I do find it very frustrating to trade at times. It is quite illiquid in comparison to other USD pairs and in the past it was quite directional. Now at times it’s a pain in the a**. Support for the coming sessions should be good at -.7850 and resistance should be strong at 0.8000.\r\n\r\n<strong>USD/CAD: Closing Price 1.1276.</strong> I am long the damn “loonie” again…why do I inflict this pain upon myself? In the immediate future we have a BOC rate decision, press conference and Interest Rate statement to contend with this Wednesday, never mind the price of a barrel of WTi. Support is at 1.1170 and resistance is at 1.1375.\r\n\r\n<strong>USD/CHF: Closing Price 0.9462</strong>. I couldn’t be bothered about this pair for a while, I wrote down 0.9400 on a post-it note to remind me to get long at this level. I should have placed a limit order with the brokers but I did not. It bounced nicely off 0.9400 about three times; I had three opportunities and took none of them. This pair is now destined to rocket to parity. Just in case it pulls back, will someone remind me to enter long at the support level of 0.9400? Resistance will be good at 0.9540.<strong> </strong>\r\n\r\n<strong>USD/JPY: Closing Price 106.87. </strong>I traded the EUR/JPY during the week twice and made $$$ twice. Those were my first JPY trades for quite sometime. Looking at the USD/JPY we have bounced very nicely off 105.00, back though 105.50 and beyond. Looking ahead I see support at 105.60 and resistance at 107.50.\r\n\r\n<strong> </strong>\r\n<ol start=\"8\">\r\n	<li><span style=\"font-size: 14pt;\"><strong> MAJOR TRADING PAIRS WITH LONGER-TERM TRENDS MATCHING:</strong></span></li>\r\n</ol>\r\nThe following currency pairs have Short Term (DAILY), Medium Term (WEEKLY) and Long Term (MONTHLY) charts all trending in the same direction.\r\n\r\n<span style=\"text-decoration: underline;\">LONG:</span>\r\n\r\nUSD/CAD\r\nUSD/NOK\r\n\r\n<span style=\"text-decoration: underline;\">SHORT</span>:\r\n\r\nThere are none.\r\n\r\nTraders take note of the above and compare this result with previous weeks. We could be on for a sentiment change hence my hesitation putting out a lot of set-ups.\r\n\r\n&nbsp;\r\n<ol start=\"9\">\r\n	<li><span style=\"font-size: 14pt;\"><strong> MAJOR FOREX NEWS THIS WEEK THAT INTERESTS ME:</strong></span></li>\r\n</ol>\r\n<strong> </strong>\r\n\r\nSUNDAY: N/A.\r\n\r\nMONDAY: AUD – Monetary Policy Meeting Minutes.\r\nMONDAY: CNY – GDP and Industrial Production.\r\n\r\nTUESDAY: AUD - CPi.\r\n\r\nWEDNESDAY: CAD – Core Retail Sales, BOC Rate Decision, Press Conference\r\nWEDNESDAY: AUD – Glenn Stevens speaks.\r\nWEDNESDAY: NZD – CPi.\r\nWEDNESDAY: CNY – HSBC Flash Manufacturing PMi.\r\n\r\nTHURSDAY: EUR – French &amp; German Flash Manufacturing PMi.\r\nTHURSDAY: GBP – Retail Sales.\r\nTHURSDAY: NZD – Trade Balance.\r\n\r\nFRIDAY: N/A.\r\n\r\n<strong> </strong>\r\n\r\n<span style=\"font-size: 14pt;\"><strong> 10 FINAL THOUGHTS:</strong> </span>\r\n\r\nSome very interesting news items coming this week so we will have to be on our guard. Overriding this, I am much more interested in the fall out after last weeks turmoil and volatility.\r\n\r\nMy gut feeling tells me consolidation for a while, but geopolitical news could over shadow this thought that I have.\r\n\r\nIs the market still directional?\r\n\r\nIt should be but ahead of this directional trading resuming, in my opinion, we should see consolidation.\r\n\r\nFrom a trading perspective we should therefore, given the uncertainty and volatility, trade with smaller position sizes and wider stops.\r\n\r\nJust remember; always use the RISK MANAGEMENT principles outlined in the PREMIUM SERVICE web site TRADING ESSENTIALS section to ensure that you do not over-stretch your Forex account. Longevity in the Forex market is only achieved through strong TRADING DISCIPLINES that include effective and strategic POSITION SIZING.\r\n\r\nGood Luck.\r\n\r\nScott Pickering\r\nThe Pip Accumulator\r\nSaturday October 18th 2014\r\n\r\nEMAIL / FOLLOW ME AT:\r\npremiumservice@weeklyfxdrivethru.com\r\nTwitter: @pipaccumulator\r\nTwitter: @ThePremService\r\nGoogle+/scottpickering\r\n\r\n<strong>DISCLAIMER:</strong>\r\n\r\nFLASH, 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.','WHAT’S NEXT… DRAGHI’S RESIGNATION?','','inherit','open','closed','','4589-revision-v1','','','2014-10-18 14:45:37','2014-10-18 19:45:37','',4589,'https://weeklyfxdrivethru.com/4589-revision-v1/',0,'revision','',0),(4592,1,'2014-10-18 14:46:53','2014-10-18 19:46:53','','HOW TO HANDLE YOUR FOREX TRADING WORRIES','','inherit','open','closed','','how-to-handle-your-forex-trading-worries','','','2014-10-18 14:54:36','2014-10-18 19:54:36','',2538,'https://weeklyfxdrivethru.com/wp-content/uploads/2014/10/HOW-TO-HANDLE-YOUR-FOREX-TRADING-WORRIES.pdf',0,'attachment','application/pdf',0),(4596,1,'2014-10-18 14:54:44','2014-10-18 19:54:44','<section class=\"pdf-links\">\r\n<div class=\"one-third first\"></div>\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/02/TRADING-WITH-ATRs.pdf\">TRADING WITH ATR\'s</a>\r\n<div class=\"one-third\"></div>\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/02/HEDGING.pdf\">HEDGING</a>\r\n<div class=\"one-third\"></div>\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/02/CREATING-A-TRADING-PLAN-3.0.pdf\">CREATING A TRADING PLAN</a>\r\n<div class=\"one-third\"></div>\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/03/FOLLOWING-YOUR-TRADING-PLAN-.pdf\">FOLLOWING YOUR TRADING PLAN</a>\r\n<div class=\"one-third\"></div>\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/03/PLANNING-YOUR-TRADES-2.0.pdf\">PLANNING YOUR TRADES (2.0)</a>\r\n<div class=\"one-third\"></div>\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/03/MANAGING-RISK.pdf\">MANAGING RISK</a>\r\n<div class=\"one-third\"></div>\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/03/STOP-PLACEMENT.pdf\">STOP PLACEMENT</a>\r\n<div class=\"one-third\"></div>\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/04/MAXIMISING-PROFIT-POTENTIAL-BY-PROPERLY-SIZING-POSITIONS.pdf\">MAXIMISING PROFIT POTENTIAL BY PROPERLY SIZING POSITIONS</a>\r\n<div class=\"one-third\"></div>\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/04/TRADING-AROUND-THE-NEWS.pdf\">TRADING AROUND THE NEWS</a>\r\n<div class=\"one-third\"></div>\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/04/HANDLING-NEWS-WITH-AN-OPEN-POSITION.pdf\">HANDLING NEWS WITH AN OPEN POSITION</a>\r\n<div class=\"one-third\"></div>\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/04/LIVE-ACCOUNT-vs-DEMO-ACCOUNT.pdf\">LIVE ACCOUNT vs DEMO ACCOUNT</a>\r\n<div class=\"one-half first\"></div>\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/04/TRADING-WITH-A-FLEXIBLE-MINDSET.pdf\">TRADING WITH A FLEXIBLE MINDSET</a>\r\n<div class=\"one-half first\"></div>\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/05/PROBABILITIES-IN-TRADING.pdf\">PROBABILITIES IN TRADING</a>\r\n<div class=\"one-half first\"></div>\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/05/TRADING-PSYCHOLOGY-AND-DRAWDOWNS.pdf\">TRADING PSYCHOLOGY AND DRAWDOWNS</a>\r\n<div class=\"one-half first\"></div>\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/05/TRADING-PSYCHOLOGY-RECENCY-BIAS.pdf\">TRADING PSYCHOLOGY - RECENCY BIAS</a>\r\n<div class=\"one-third\"></div>\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/06/A-MATHEMATICAL-APPROACH-TO-ELIMINATING-EMOTIONS.pdf\">A MATHEMATICAL APPROACH TO ELIMINATING EMOTIONS</a>\r\n<div class=\"one-third\"></div>\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/01/ARE-YOU-FORCING-TRADES_.pdf\">ARE YOU FORCING TRADES_</a>\r\n<div class=\"one-third\"></div>\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/06/TIPS-IN-ADJUSTING-TO-THE-FOREX-MARKET-WHEN-THERE-IS-LOW-VOLATILITY.pdf\">TIPS IN ADJUSTING TO THE FOREX MARKET WHEN THERE IS LOW VOLATILITY</a>\r\n<div class=\"one-third\"></div>\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/07/FX-BROKERS-PART-1.pdf\">FX BROKERS -PART 1</a>\r\n<div class=\"one-half first\"></div>\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/07/FX-BROKERS-PART-2.pdf\">FX BROKERS - PART 2</a>\r\n<div class=\"one-half first\"></div>\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/09/TIPS-ON-GETTING-BACK-INTO-TRADING-AFTER-A-BREAK.pdf\">TIPS ON GETTING BACK INTO TRADING AFTER A BREAK</a>\r\n<div class=\"one-half first\"></div>\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/09/TRADING-MISTAKES-THAT-MAY-BE-LIMITING-YOUR-PROFITABILITY.pdf\">TRADING MISTAKES THAT MAY BE LIMITING YOUR PROFITABILITY</a>\r\n<div class=\"one-half first\"></div>\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/09/TRADING-OUTSIDE-OF-YOUR-COMFORT-ZONE.pdf\">TRADING OUTSIDE OF YOUR COMFORT ZONE</a>\r\n<div class=\"one-half first\"></div>\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/09/ARE-YOU-PREDICTING-PRICE-ACTION_.pdf\">ARE YOU PREDICTING PRICE ACTION</a>\r\n<div class=\"one-half first\"></div>\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/10/DONT-GIVE-UP-ON-YOUR-TRADE-PLAN.pdf\">DON\'T GIVE UP ON YOUR TRADE PLAN</a>\r\n<div class=\"one-half first\"></div>\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/10/HOW-TO-ADJUST-TO-CHANGING-TRADING-CONDITIONS.pdf\">HOW TO ADJUST TO CHANGING TRADING CONDITIONS</a>\r\n<div class=\"one-half first\"></div>\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/10/HOW-TO-HANDLE-YOUR-FOREX-TRADING-WORRIES.pdf\">HOW TO HANDLE YOUR FOREX TRADING WORRIES</a>\r\n<div class=\"one-half first\"></div>\r\n<div class=\"one-half first\"></div>\r\n<div class=\"one-half first\"></div>\r\n<div class=\"one-half first\"></div>\r\n<div class=\"one-half first\"></div>\r\n<div class=\"one-half first\"></div>\r\n<div class=\"one-half first\"></div>\r\n<div class=\"one-half first\"></div>\r\n<div class=\"one-half first\"></div>\r\n<div class=\"one-half first\">These resources are in PDF format that will allow for easy printing</div>\r\n<div class=\"one-third\"></div>\r\n&nbsp;\r\n\r\n</section>','Trading Essentials','','inherit','open','closed','','2538-revision-v1','','','2014-10-18 14:54:44','2014-10-18 19:54:44','',2538,'https://weeklyfxdrivethru.com/2538-revision-v1/',0,'revision','',0),(4597,1,'2014-10-18 15:08:43','2014-10-18 20:08:43','&nbsp;\r\n<ol>\r\n	<li><span style=\"font-size: 14pt;\"><strong> INTRODUCTION:</strong></span></li>\r\n</ol>\r\n<strong>“Holy smokes… was that a week of volatility or what?”</strong>\r\n\r\nThe above was how I started last week’s blog. That was nothing in terms of volatility compared to what we saw last Wednesday and Thursday. That was real volatility.\r\n\r\nDuring the last 72 hours or so, I have had several emails and twitter exchanges with PREMIUM SERVICE subscribers about what happened and why there was such a dramatic chain of events so quickly.\r\n\r\nFrom my perspective it was a number of factors all hitting at the same time and FEAR took over.\r\n\r\n(PREMIUM SERVICE subscribers will be well versed in my thoughts on the two primary drivers of the Forex markets; FEAR and GREED. I have several articles in the PREMIUM SERVICE library under the section TRADING ESSENTIALS that refer to FEAR and GREED).\r\n\r\nThe contributing factors in my opinion were: -\r\n<ol>\r\n	<li>We have been in a one sided market for the better part of six years.</li>\r\n	<li>Only very recently have the bears raised their heads.</li>\r\n	<li>The FED is ending Quantitative Easing (QE).</li>\r\n	<li>The ECB is as effective as a “Headless chicken running around a farmyard”. Draghi is too weak to do anything other than talk. Germany runs the EUROZONE and the ECB. Germany does NOT want Quantitative Easing (QE).</li>\r\n	<li>The FED and ECB are on divergent monetary policies. The FED tightening and ECB loosening.</li>\r\n	<li>WTi (OIL) was close to key $80.00 support.</li>\r\n	<li>ISIS.</li>\r\n	<li>EBOLA.</li>\r\n	<li>Russian sanctions.</li>\r\n	<li>Russia / Ukraine issues.</li>\r\n</ol>\r\nAbove there are 10 reasons / factors that spring to my mind immediately.\r\n\r\nLet me add factor number 11 below: -\r\n\r\nNow lets face simple facts. Most traders in the equity markets know nothing about a two-sided market as the experienced ones from the past have moved on. All the present incumbents know is “BUY THE DIP”…”BUY THE DIP”…”BUY THE FECK** DIP”. Therefore, FEAR will be something they do NOT react to very well. They also believe, probably correctly that the FED will ultimately step in and backstop them at some stage. They see their jobs as “jobs for the boys”… Stock markets (in particular the U.S. because of the 401K mentality) will always be supportive irrespective of company valuations, which are extreme in many cases… I have NOT said the word bubble yet…I will save that for another blog.\r\n\r\nGiven these factors, the domino effect takes over and FEAR rules. I know many of you will say bulls**t, but these are my thoughts. For the past three weeks, I have been referring to my blog of three weeks ago stating that a collapse in the equity markets was on the cards. If you have not read the previous blogs they are all on the welcome page of my website THE WEEKLY FX DRIVE THRU at www.weeklyfxdrivethru.com\r\n\r\nThe funniest FX event of the week took place Thursday evening (EDT). At about 18:30 EDT the NZD/USD collapsed about 70-100 pips on the back of a RBNZ release stating that the NZD was way over-valued and needed to be weakened to achieve the RBNZ fair value level. About 5 minutes later the release from the RBNZ was withdrawn stating that is was an old data press release and was leaked in error. The NZD/USD gave back its entire move lower in about 5 minutes.\r\n\r\nTherefore…. Mr. Wheeler, governor of the RBNZ… here’s what you do to bring down the value of the NZD.\r\n\r\n<em>Apparently, the markets are NOT clever enough to distinguish between old and new economic data releases. Pick out some old RBNZ minutes saying that you are going to intervene directly into the Forex market. Then release them once a week and inside 4 months you will have your desired NZD exchange rate in the NZD/USD. Throw in the odd personal appearance for good measure. This is, simple, clear, unambiguous guidance to the RBNZ from me… you are most welcome my invoice is in the mail.</em>\r\n\r\nI spent the last couple of days, sidelined doing voyeur trades and nursing some open trades from the Wednesday fallout…still doing that now!\r\n\r\n<strong> </strong>\r\n<ol start=\"2\">\r\n	<li><strong><span style=\"font-size: 14pt;\"> THE PREMIUM SERVICE: –</span></strong></li>\r\n</ol>\r\n<p style=\"text-align: center;\"><span style=\"font-size: 12pt;\"><strong>OVERVIEW, TRADING ACTIVITY, NEWS UPDATE &amp; MONTHLY AND\r\n</strong><strong>YEAR TO DATE TRADING SUMMARIES</strong></span></p>\r\n<span style=\"text-decoration: underline;\">2.1 OVERVIEW:</span>\r\n\r\nFor 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 the page there are three drop down menus: PREMIUM SERVICE, SIGN-UP and DISCLAIMER. Further details and how to join are all contained there. You will need at PayPal account to subscribe.\r\n\r\n<span style=\"text-decoration: underline;\">2.2 TRADING ACTIVITY:</span>\r\n\r\nWhat a week for trading. It was so fast and furious on Wednesday, I scalped trades “OFF / AWAY” from the PREMIUM SERVICE as it was just impossible to trade / communicate / tweet when things were moving so fast.\r\n\r\nThankfully, as regular followers know, when I trade my FUNDAMENTAL TRADE set-ups these trades are HEDGED from losses between 100 and 150 pips. Everything was hedged last Wednesday. I sat in very large loss trades through Wednesday / Thursday as I scalped away from my core trades. On Thursday morning when commodity crosses ripped higher I exited 4/5 trades with nice profits.\r\n\r\nNow, I just have 3 LIVE trades left all are hedged. My maximum loss would be 325 pips, which is well within my RISK MANAGEMENT and RISK TOLERANCE guidelines.\r\n\r\n(Further details on HEDGING, RISK TOLERANCE and RISK MANAGEMENT can be found inside the PREMIUM SERVICE under TRADING ESSENTIALS)\r\n\r\nHowever, after all that drama, at the end of the week, I had nice trading profits. During the week from single lot trades more than 600 pips were generated, which is in line with my objectives. Obviously, those who trade multi-lot would have generated a further extra income over and above the amounts quoted. I hope that my PREMIUM SERVICE subscribers benefited greatly from these set-ups as well.\r\n\r\n<span style=\"text-decoration: underline;\">2.3 MONTHLY AND YEAR TO DATE TRADING SUMMARIES<strong>:</strong></span>\r\n\r\nBelow I show the up to date performances for my various trading styles. Full excel spreadsheets are in the subscriber area of the PREMIUM SERVICE website.\r\n\r\nBelow are the excel spreadsheets covering this month so far and the year 2014 to date.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/10/PREM-SERV-PROFITS1-18102014.png\"><img class=\"aligncenter size-full wp-image-4579\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/10/PREM-SERV-PROFITS1-18102014.png\" alt=\"PREM SERV PROFITS1 18102014\" width=\"448\" height=\"421\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/10/PREM-SERV-PROFITS-2-18102014.png\"><img class=\"aligncenter size-full wp-image-4580\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/10/PREM-SERV-PROFITS-2-18102014.png\" alt=\"PREM SERV PROFITS 2 18102014\" width=\"458\" height=\"417\" /></a>\r\n\r\n<span style=\"text-decoration: underline;\">PLEASE NOTE:</span>\r\n\r\nThe above examples in sections 2.2 and 2.3 are for illustration purposes only. The profitability examples detailed above are based solely upon single lot trading, regardless of lot type. If multiple lot sizes are traded the profitability margins will be different than those shown.\r\n\r\nJust to provide more information so you understand where I am coming from with the risk / reward statements above. All of my trades are of different sizes and different size lot types. The above does not reflect the actual trading performance, but it does show you the direction of the performance of the trades placed. I like to add to trades, profits are taken as the trade progresses and my overall cost average moves several times. All of my trades are of different lot styles. I trade a mixture of micro lots, mini lots and standard lots across my brokers.\r\n\r\nThe above results simply display your profit or loss if you placed a single lot trade on all the set-ups suggested and did nothing else.\r\n\r\nYou must always remember to follow properly executed RISK MANAGEMENT and POSITION SIZING disciplines with all your trades and remember that Forex trading with a high degree of leverage can significantly increase your profits and losses. You should trade with a TRADE PLAN and NOT risk monies that you cannot afford to lose.\r\n\r\n<strong> </strong>\r\n<ol start=\"3\">\r\n	<li><span style=\"font-size: 14pt;\"><strong> THE VIEW FROM MY TRADING DESK:</strong></span></li>\r\n</ol>\r\nI am NOT going to talk about dominoes this week, or refer to my previous blogs about dominoes.\r\n\r\n<em>\r\n</em>\r\n<p style=\"text-align: center;\"><span style=\"font-size: 12pt;\"><strong>WHATS’S NEXT… DRAGHI’S RESIGNATION?</strong></span><strong> </strong></p>\r\nThe title if nothing else will attract a few more readers.\r\n\r\nSince I started writing blogs three years ago, I have been a constant skeptic about the EUROZONE, not the trading community, I think that is an excellent idea in many areas, laughable in others.\r\n\r\nMy skepticism emanates from the single currency.\r\n\r\nI have written so many times that 18 counties or so using the same chequebook just will not work. One central bank (the ECB) trying to do what’s best for 18 countries all with different issues / problems is just impossible. It is further exacerbated by the fact that there is one super almighty economic powerhouse within the single currency (Germany) that has power, money and greater financial stability than most of the other member countries.\r\n\r\nWhen, the world suffered through the financial crash of 2008, the FED, BOE and BOJ sought Quantitative Easing (QE) as the route to support their equity markets. The ECB through a German order used austerity. Lets make the people pay more taxes, reduce services… make the bastards suffer.\r\n\r\nWell that didn’t work…\r\n\r\nEight years later the FED and BOE are looking at raising rates, probably the FED sooner than the BOE (proximity issues to Europe, could affect the BOE more than we think).\r\n\r\nWhere is the EUROZONE now…six years later?\r\n\r\nMore fecked up than ever before…\r\n\r\nEven Germany is now releasing poor economic data. The periphery countries, ITALY, SPAIN, GREECE, PORTUGAL, IRELAND and CYPRUS are still struggling after bailouts to get their economies motoring. Economic growth is one of the major issues, no growth, DEFLATION… or as the ECB says DIS-INFLATION… call a spade a spade - it is what it is DEFLATION\r\n\r\nNow at this point, I could lay down a plethora of economic data from the EUROZONE countries, but I am going to be selective but wide ranging at the same time in the chart below.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/10/EZ-ECON-DATA-18102014.png\"><img class=\"aligncenter size-full wp-image-4586\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/10/EZ-ECON-DATA-18102014.png\" alt=\"EZ ECON DATA 18102014\" width=\"719\" height=\"493\" /></a>\r\n\r\nStatistics such as those above can be manipulated in numerous different ways and as Forex traders reading and interpreting economic data on a daily basis as well as observing politicians in action, I need say no more on this topic.\r\n\r\nHowever, six years on and with people suffering through Austerity measures, I ask the question how far has the EUROZONE progressed.\r\n\r\nHere are my highlights: -\r\n<ol>\r\n	<li>Unemployment stubbornly high in Spain and Greece.</li>\r\n	<li>Debt to GDP – Italy, Ireland, Portugal, Greece and Cyprus way too high.</li>\r\n	<li>Retail Sales – very patchy</li>\r\n	<li>Consumer Confidence numbers are in the main below 100.</li>\r\n	<li>PMi statistics are patchy. By now the averages should be well above contracting levels of sub 50. Germany now below 50. This has all the signs of RECESSION on the cards in the near future.</li>\r\n	<li>GDP – there is zero inflation in theEUROZONE. The targethas been revised down and down again and even now the area average is 0.70% against the latest lowball revision of 1.2%. This equals DEFLATION.Plus,</li>\r\n	<li>The high exchange rate of the EUR against it’s key trading partners the USA and Japan in particular. This is making exports very expensive and uncompetitive.</li>\r\n</ol>\r\nThe world in generally on a slowdown (its not just the EUROZONE), consumer confidence worldwide is low…. consumers are generally not spending (USA, UK and Japan following Sales Tax hike)… if no one buys why produce finished goods… if you are now producing finished goods … why buy raw materials? Hence the Manufacturing PMi issues in Germany.\r\n\r\nSix years on and the ECB and the politicians should be patting themselves on the back for a job well done in the EUROZONE. Instead it is mainly a shambles.\r\n\r\nThe Financial sector was stabilized in the initial period after the 2008 crash, but, six years on there are still EUROZONE bank stress tests being undertaken… give me a break shouldn\'t this have been resolved on first, second or maybe the third attempt of stress tests.\r\n\r\nThis sums up the EUROZONE, wishy-washy and totally 100% useless at completing anything effectively.\r\n\r\nDraghi is guilty of a lot of things and frankly, for six years he has been talking, talking and talking but has been very low on actual action. Apart from interest rates no extraordinary measures or unconventional measures have really been used to arrest the decline of the EUROZONE and tackle growth, unemployment or confidence.\r\n\r\nThe EUROZONE is now bordering on RECESSION never mind struggling with DEFLATION.\r\n\r\nThis does NOT look good for the population living under the EUROZONE flag.\r\n\r\nIf there were no EUROZONE, could each individual country have tackled the problems better on their own rather than being under the constraints of a centralized policy governed allegedly by a central bank to represent all…. the ECB, which is basically, in my opinion, a sub-branch of the Bundesbank?\r\n\r\nPersonally, I think on their own most countries after the crash would have protected their financial systems and then revised their currency valuations probably against the USD to move forward. This is where the periphery countries in particular have suffered most. They have not been able to tackle issues head on, fix and move on, instead they are under a very tight fiscal regime, because that is how Germany operates.\r\n\r\nWhat next?\r\n\r\nUltimately, I think that the FED will rescue the EUROZONE through a strengthening USD. However, this is not the point, a strong, direct and unambiguous Central Bank is paramount to give the people and the financial markets in the area or country it represents confidence. If a poll were undertaken today in the EUROZONE about the effectiveness of the ECB I would love to see the results.\r\n\r\nOne size does NOT fit all in this instance and a huge amount of financial pain and stress has been thrown at people for what? Six years of a non-event, back to square one.\r\n\r\nWe live in a results orientated society wanting instant gratification.\r\n\r\nThe master plan for the EUROZONE was hatched years ago over a glass of Chateauneuf du Pape, a bottle of Cognac and fine cigars. It was NOT thought properly through to cope with a mix of diverse multi cultures, with completely different ways of coping with and addressing core problems that face individual countries. Never mind what would happen if… scenarios put in place. This is hardly surprising when you look at the achievements of the EUROZONE.\r\n<p style=\"text-align: center;\"><strong>The effectiveness of the currency union is questionable in fact I think a failure.</strong></p>\r\n<p style=\"text-align: center;\"><strong>There is NO coordinated foreign policy in the EUROZONE.</strong></p>\r\n<p style=\"text-align: center;\"><strong>There is NO coordinated present or future energy plan in the EUROZONE.</strong></p>\r\n<p style=\"text-align: center;\"><strong>There is NO tax harmonization plan in the EUROZONE.</strong></p>\r\n<p style=\"text-align: center;\"><strong>There is NO “how to tackle” EUROZONE unemployment plan in the EUROZONE.</strong></p>\r\n<p style=\"text-align: center;\"><strong>There is NO universal social chapter, minimum wage, weekly working hours, retirement age agreement in the EUROZONE.</strong><strong> </strong></p>\r\nI am not saying that Draghi is single handedly responsible for the above, but he is a vital cog in the EUROZONE machine.\r\n\r\nIn my opinion, Draghi has failed in his areas of responsibility. I know people will say he has calmed the banking sector. But the banks do not lend. It\'s a failure. It is so much a failure he had to introduce negative deposit rates in a last ditch attempt to try and force the banks to lend again and to try and get some growth into ailing economies.\r\n\r\nHis tenure is a failure based on his inability to use his powers effectively or to persuade or demand powers to enable the ECB and himself to manage effectively. Either way; I think its time for him to say goodbye and move on, if he were a manager of a Barclays Premiership Football Team he would have been long gone by now.\r\n\r\nComing up he has another opportunity at the next press conference to deliver once and for all what the markets are demanding.\r\n\r\nA fully explained package of measures including:\r\n\r\nQuantitative Easing (QE) that will drag the EUROZONE away from recession. He needs something dramatic like QE to reduce the EUR exchange rate to reduce export costs and in so doing this will make EUROZONE exports of finished goods and services cheaper to sell in the open market. This will provide employment, which will reduce the social burden and add more money to a countries tax income. If the increased tax income is used for larger scale infrastructure this will further reduce unemployment and increase the tax income and once again reduce the social burden.\r\n\r\nIf he talks at the next ECB Press Conference and once again “kicks the can down the road” and delivers no comprehensive action, then I think that he should step down.\r\n\r\nThis would be the first step in the break –up of the single currency union. The ECB has been shown up with all it’s shortcomings for the world to see.\r\n\r\nThe EUROZONE needs change and it needs a new fresh mandate for the ECB to allow it to function, it’s not just about Germany. Draghi has not fought the fight to do this.\r\n\r\nIn my opinion it\'s a long overdue time for him to move on and if at the next ECB Press Conference he does NOT deliver this would be the time to step aside.\r\n\r\n&nbsp;\r\n<ol start=\"4\">\r\n	<li><span style=\"font-size: 14pt;\"><strong> LOOKING FORWARD…THE KEY SUPPORT &amp; RESISTANCE LEVELS WITH THE USD MAJORS:</strong></span></li>\r\n</ol>\r\n<strong>EUR/USD: Closing Price 1.2757.</strong> After a very eventful week, the EUR/USD ends the week not too far for where it started. Moving forward, I am uncertain as to how sentiment will play out early next week. Basically nothing has changed. The ECB and FED are on divergent monetary policies and as such the EUR should weaken moving forward. We may see some consolidation at present levels for a while and be somewhat range bound. The support level that interests me is 1.2650 and the resistance level at 1.2885.\r\n\r\n<strong>GBP/USD: Closing Price 1.6088</strong>. Like the EUR/USD; after a very eventful week literally no change in the closing weekly price. Am I bullish or am I bearish this pair? I am for once not sure. If push came to a shove I would have to say bearish. My reasons would be to look where it is following the Scottish referendum and following Carney’s Mansion House speech. It is a bit of wait and see for me with this pair, but there lies good support at 1.6020 and 1.6125 has nice resistance, in fact above 1.6130 and I think that there is a chance of a squeeze.<strong> </strong>\r\n\r\n<strong>AUD/USD: Closing Price 0.8748</strong>. Probably not to Glenn Stevens liking, but the AUD/USD will finish the week about 100 pips higher than last week. As long as we consolidate in equities after the turmoil the Aussie will stay inflated in my opinion. Support is at 0.8690 and resistance will be strong at 0.8825.\r\n\r\n<strong>NZD/USD: Closing Price 0.7913</strong>. Just like the Aussie about a 100 pips higher closing this week in comparison to last week. I am still bearish this pair, but I do find it very frustrating to trade at times. It is quite illiquid in comparison to other USD pairs and in the past it was quite directional. Now at times it’s a pain in the a**. Support for the coming sessions should be good at -.7850 and resistance should be strong at 0.8000.\r\n\r\n<strong>USD/CAD: Closing Price 1.1276.</strong> I am long the damn “loonie” again…why do I inflict this pain upon myself? In the immediate future we have a BOC rate decision, press conference and Interest Rate statement to contend with this Wednesday, never mind the price of a barrel of WTi. Support is at 1.1170 and resistance is at 1.1375.\r\n\r\n<strong>USD/CHF: Closing Price 0.9462</strong>. I couldn’t be bothered about this pair for a while, I wrote down 0.9400 on a post-it note to remind me to get long at this level. I should have placed a limit order with the brokers but I did not. It bounced nicely off 0.9400 about three times; I had three opportunities and took none of them. This pair is now destined to rocket to parity. Just in case it pulls back, will someone remind me to enter long at the support level of 0.9400? Resistance will be good at 0.9540.\r\n\r\n<strong>USD/JPY: Closing Price 106.87. </strong>I traded the EUR/JPY during the week twice and made $$$ twice. Those were my first JPY trades for quite sometime. Looking at the USD/JPY we have bounced very nicely off 105.00, back though 105.50 and beyond. Looking ahead I see support at 105.60 and resistance at 107.50.\r\n\r\n<strong> </strong>\r\n<ol start=\"5\">\r\n	<li><span style=\"font-size: 14pt;\"><strong> MAJOR FOREX NEWS THIS WEEK THAT INTERESTS ME:</strong></span></li>\r\n</ol>\r\nSUNDAY: N/A.\r\n\r\nMONDAY: AUD – Monetary Policy Meeting Minutes.\r\nMONDAY: CNY – GDP and Industrial Production.\r\n\r\nTUESDAY: AUD - CPi.\r\n\r\nWEDNESDAY: CAD – Core Retail Sales, BOC Rate Decision, Press Conference\r\nWEDNESDAY: AUD – Glenn Stevens speaks.\r\nWEDNESDAY: NZD – CPi.\r\nWEDNESDAY: CNY – HSBC Flash Manufacturing PMi.\r\n\r\nTHURSDAY: EUR – French &amp; German Flash Manufacturing PMi.\r\nTHURSDAY: GBP – Retail Sales.\r\nTHURSDAY: NZD – Trade Balance.\r\n\r\nFRIDAY: N/A.\r\n\r\n<strong> </strong><strong> </strong>\r\n<ol start=\"6\">\r\n	<li><span style=\"font-size: 14pt;\"><strong> FINAL THOUGHTS:</strong></span></li>\r\n</ol>\r\nSome very interesting news items coming this week so we will have to be on our guard. Overriding this, I am much more interested in the fall out after last weeks turmoil and volatility.\r\n\r\nMy gut feeling tells me consolidation for a while, but geopolitical news could over shadow this thought that I have.\r\n\r\nIs the market still directional\r\n\r\nIt should be but ahead of this directional trading resuming, in my opinion, we should see consolidation.\r\n\r\nFrom a trading perspective we should therefore, given the uncertainty and volatility, trade with smaller position sizes and wider stops.\r\n\r\nJust remember; always use the RISK MANAGEMENT principles outlined in the PREMIUM SERVICE web site TRADING ESSENTIALS section to ensure that you do not over-stretch your Forex account. Longevity in the Forex market is only achieved through strong TRADING DISCIPLINES that include effective and strategic POSITION SIZING.\r\n\r\nGood Luck.\r\n\r\nScott Pickering\r\nThe Pip Accumulator\r\nSaturday October 18th 2014\r\n\r\nEMAIL / FOLLOW ME AT:\r\ndrivethru@weeklyfxdrivethru.com\r\nTwitter: @pipaccumulator\r\nGoogle+/scottpickering<strong> </strong>\r\n\r\n<strong>DISCLAIMER:</strong>\r\n\r\nFLASH, 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.','WHAT’S NEXT… DRAGHI’S RESIGNATION?','','publish','open','closed','','whats-next-draghis-resignation','','','2014-10-18 15:08:43','2014-10-18 20:08:43','',0,'https://weeklyfxdrivethru.com/?p=4597',0,'post','',0),(4598,1,'2014-10-18 15:06:35','2014-10-18 20:06:35','&nbsp;\r\n<ol>\r\n	<li><span style=\"font-size: 14pt;\"><strong> INTRODUCTION:</strong></span></li>\r\n</ol>\r\n<strong>“Holy smokes… was that a week of volatility or what?”</strong>\r\n\r\nThe above was how I started last week’s blog. That was nothing in terms of volatility compared to what we saw last Wednesday and Thursday. That was real volatility.\r\n\r\nDuring the last 72 hours or so, I have had several emails and twitter exchanges with PREMIUM SERVICE subscribers about what happened and why there was such a dramatic chain of events so quickly.\r\n\r\nFrom my perspective it was a number of factors all hitting at the same time and FEAR took over.\r\n\r\n(PREMIUM SERVICE subscribers will be well versed in my thoughts on the two primary drivers of the Forex markets; FEAR and GREED. I have several articles in the PREMIUM SERVICE library under the section TRADING ESSENTIALS that refer to FEAR and GREED).\r\n\r\nThe contributing factors in my opinion were: -\r\n<ol>\r\n	<li>We have been in a one sided market for the better part of six years.</li>\r\n	<li>Only very recently have the bears raised their heads.</li>\r\n	<li>The FED is ending Quantitative Easing (QE).</li>\r\n	<li>The ECB is as effective as a “Headless chicken running around a farmyard”. Draghi is too weak to do anything other than talk. Germany runs the EUROZONE and the ECB. Germany does NOT want Quantitative Easing (QE).</li>\r\n	<li>The FED and ECB are on divergent monetary policies. The FED tightening and ECB loosening.</li>\r\n	<li>WTi (OIL) was close to key $80.00 support.</li>\r\n	<li>ISIS.</li>\r\n	<li>EBOLA.</li>\r\n	<li>Russian sanctions.</li>\r\n	<li>Russia / Ukraine issues.</li>\r\n</ol>\r\nAbove there are 10 reasons / factors that spring to my mind immediately.\r\n\r\nLet me add factor number 11 below: -\r\n\r\nNow lets face simple facts. Most traders in the equity markets know nothing about a two-sided market as the experienced ones from the past have moved on. All the present incumbents know is “BUY THE DIP”…”BUY THE DIP”…”BUY THE FECK** DIP”. Therefore, FEAR will be something they do NOT react to very well. They also believe, probably correctly that the FED will ultimately step in and backstop them at some stage. They see their jobs as “jobs for the boys”… Stock markets (in particular the U.S. because of the 401K mentality) will always be supportive irrespective of company valuations, which are extreme in many cases… I have NOT said the word bubble yet…I will save that for another blog.\r\n\r\nGiven these factors, the domino effect takes over and FEAR rules. I know many of you will say bulls**t, but these are my thoughts. For the past three weeks, I have been referring to my blog of three weeks ago stating that a collapse in the equity markets was on the cards. If you have not read the previous blogs they are all on the welcome page of my website THE WEEKLY FX DRIVE THRU at www.weeklyfxdrivethru.com\r\n\r\nThe funniest FX event of the week took place Thursday evening (EDT). At about 18:30 EDT the NZD/USD collapsed about 70-100 pips on the back of a RBNZ release stating that the NZD was way over-valued and needed to be weakened to achieve the RBNZ fair value level. About 5 minutes later the release from the RBNZ was withdrawn stating that is was an old data press release and was leaked in error. The NZD/USD gave back its entire move lower in about 5 minutes.\r\n\r\nTherefore…. Mr. Wheeler, governor of the RBNZ… here’s what you do to bring down the value of the NZD.\r\n\r\n<em>Apparently, the markets are NOT clever enough to distinguish between old and new economic data releases. Pick out some old RBNZ minutes saying that you are going to intervene directly into the Forex market. Then release them once a week and inside 4 months you will have your desired NZD exchange rate in the NZD/USD. Throw in the odd personal appearance for good measure. This is, simple, clear, unambiguous guidance to the RBNZ from me… you are most welcome my invoice is in the mail.</em>\r\n\r\nI spent the last couple of days, sidelined doing voyeur trades and nursing some open trades from the Wednesday fallout…still doing that now!\r\n\r\n<strong> </strong>\r\n<ol start=\"2\">\r\n	<li><strong><span style=\"font-size: 14pt;\"> THE PREMIUM SERVICE: –</span>\r\n\r\n</strong></li>\r\n</ol>\r\n<p style=\"text-align: center;\"><span style=\"font-size: 12pt;\"><strong>OVERVIEW, TRADING ACTIVITY, NEWS UPDATE &amp; MONTHLY AND\r\n</strong><strong>YEAR TO DATE TRADING SUMMARIES</strong></span></p>\r\n<span style=\"text-decoration: underline;\">2.1 OVERVIEW:</span>\r\n\r\nFor 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 the page there are three drop down menus: PREMIUM SERVICE, SIGN-UP and DISCLAIMER. Further details and how to join are all contained there. You will need at PayPal account to subscribe.\r\n\r\n<span style=\"text-decoration: underline;\">2.2 TRADING ACTIVITY:</span>\r\n\r\nWhat a week for trading. It was so fast and furious on Wednesday, I scalped trades “OFF / AWAY” from the PREMIUM SERVICE as it was just impossible to trade / communicate / tweet when things were moving so fast.\r\n\r\nThankfully, as regular followers know, when I trade my FUNDAMENTAL TRADE set-ups these trades are HEDGED from losses between 100 and 150 pips. Everything was hedged last Wednesday. I sat in very large loss trades through Wednesday / Thursday as I scalped away from my core trades. On Thursday morning when commodity crosses ripped higher I exited 4/5 trades with nice profits.\r\n\r\nNow, I just have 3 LIVE trades left all are hedged. My maximum loss would be 325 pips, which is well within my RISK MANAGEMENT and RISK TOLERANCE guidelines.\r\n\r\n(Further details on HEDGING, RISK TOLERANCE and RISK MANAGEMENT can be found inside the PREMIUM SERVICE under TRADING ESSENTIALS)\r\n\r\nHowever, after all that drama, at the end of the week, I had nice trading profits. During the week from single lot trades more than 600 pips were generated, which is in line with my objectives. Obviously, those who trade multi-lot would have generated a further extra income over and above the amounts quoted. I hope that my PREMIUM SERVICE subscribers benefited greatly from these set-ups as well.\r\n\r\n<span style=\"text-decoration: underline;\">2.3 MONTHLY AND YEAR TO DATE TRADING SUMMARIES<strong>:</strong></span>\r\n\r\nBelow I show the up to date performances for my various trading styles. Full excel spreadsheets are in the subscriber area of the PREMIUM SERVICE websit\r\n\r\nBelow are the excel spreadsheets covering this month so far and the year 2014 to date.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/10/PREM-SERV-PROFITS1-18102014.png\"><img class=\"aligncenter size-full wp-image-4579\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/10/PREM-SERV-PROFITS1-18102014.png\" alt=\"PREM SERV PROFITS1 18102014\" width=\"448\" height=\"421\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/10/PREM-SERV-PROFITS-2-18102014.png\"><img class=\"aligncenter size-full wp-image-4580\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/10/PREM-SERV-PROFITS-2-18102014.png\" alt=\"PREM SERV PROFITS 2 18102014\" width=\"458\" height=\"417\" /></a>\r\n\r\n<span style=\"text-decoration: underline;\">PLEASE NOTE:</span>\r\n\r\nThe above examples in sections 2.2 and 2.3 are for illustration purposes only. The profitability examples detailed above are based solely upon single lot trading, regardless of lot type. If multiple lot sizes are traded the profitability margins will be different than those shown.\r\n\r\nJust to provide more information so you understand where I am coming from with the risk / reward statements above. All of my trades are of different sizes and different size lot types. The above does not reflect the actual trading performance, but it does show you the direction of the performance of the trades placed. I like to add to trades, profits are taken as the trade progresses and my overall cost average moves several times. All of my trades are of different lot styles. I trade a mixture of micro lots, mini lots and standard lots across my brokers.\r\n\r\nThe above results simply display your profit or loss if you placed a single lot trade on all the set-ups suggested and did nothing else.\r\n\r\nYou must always remember to follow properly executed RISK MANAGEMENT and POSITION SIZING disciplines with all your trades and remember that Forex trading with a high degree of leverage can significantly increase your profits and losses. You should trade with a TRADE PLAN and NOT risk monies that you cannot afford to lose.\r\n\r\n<strong> </strong>\r\n<ol start=\"3\">\r\n	<li><span style=\"font-size: 14pt;\"><strong> THE VIEW FROM MY TRADING DESK:</strong></span></li>\r\n</ol>\r\nI am NOT going to talk about dominoes this week, or refer to my previous blogs about dominoes.\r\n\r\n<em>\r\n</em>\r\n<p style=\"text-align: center;\"><span style=\"font-size: 12pt;\"><strong>WHATS’S NEXT… DRAGHI’S RESIGNATION?</strong></span><strong> </strong></p>\r\nThe title if nothing else will attract a few more readers.\r\n\r\nSince I started writing blogs three years ago, I have been a constant skeptic about the EUROZONE, not the trading community, I think that is an excellent idea in many areas, laughable in others.\r\n\r\nMy skepticism emanates from the single currency.\r\n\r\nI have written so many times that 18 counties or so using the same chequebook just will not work. One central bank (the ECB) trying to do what’s best for 18 countries all with different issues / problems is just impossible. It is further exacerbated by the fact that there is one super almighty economic powerhouse within the single currency (Germany) that has power, money and greater financial stability than most of the other member countries.\r\n\r\nWhen, the world suffered through the financial crash of 2008, the FED, BOE and BOJ sought Quantitative Easing (QE) as the route to support their equity markets. The ECB through a German order used austerity. Lets make the people pay more taxes, reduce services… make the bastards suffer.\r\n\r\nWell that didn’t work…\r\n\r\nEight years later the FED and BOE are looking at raising rates, probably the FED sooner than the BOE (proximity issues to Europe, could affect the BOE more than we think).\r\n\r\nWhere is the EUROZONE now…six years later?\r\n\r\nMore fecked up than ever before…\r\n\r\nEven Germany is now releasing poor economic data. The periphery countries, ITALY, SPAIN, GREECE, PORTUGAL, IRELAND and CYPRUS are still struggling after bailouts to get their economies motoring. Economic growth is one of the major issues, no growth, DEFLATION… or as the ECB says DIS-INFLATION… call a spade a spade - it is what it is DEFLATION\r\n\r\nNow at this point, I could lay down a plethora of economic data from the EUROZONE countries, but I am going to be selective but wide ranging at the same time in the chart below.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/10/EZ-ECON-DATA-18102014.png\"><img class=\"aligncenter size-full wp-image-4586\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/10/EZ-ECON-DATA-18102014.png\" alt=\"EZ ECON DATA 18102014\" width=\"719\" height=\"493\" /></a>\r\n\r\nStatistics such as those above can be manipulated in numerous different ways and as Forex traders reading and interpreting economic data on a daily basis as well as observing politicians in action, I need say no more on this topic.\r\n\r\nHowever, six years on and with people suffering through Austerity measures, I ask the question how far has the EUROZONE progressed.\r\n\r\nHere are my highlights: -\r\n<ol>\r\n	<li>Unemployment stubbornly high in Spain and Greece.</li>\r\n	<li>Debt to GDP – Italy, Ireland, Portugal, Greece and Cyprus way too high.</li>\r\n	<li>Retail Sales – very patchy</li>\r\n	<li>Consumer Confidence numbers are in the main below 100.</li>\r\n	<li>PMi statistics are patchy. By now the averages should be well above contracting levels of sub 50. Germany now below 50. This has all the signs of RECCESSION on the cards in the near future.</li>\r\n	<li>GDP – there is zero inflation in the EUROZONE. The target has been revised down and down again and even now the area average is 0.70% against the latest lowball revision of 1.2%. This equals DEFLATION.\r\n\r\nPlus,</li>\r\n	<li>The high exchange rate of the EUR against it’s key trading partners the USA and Japan in particular. This is making exports very expensive and uncompetitive.</li>\r\n</ol>\r\nThe world in generally on a slowdown (its not just the EUROZONE), consumer confidence worldwide is low…. consumers are generally not spending (USA, UK and Japan following Sales Tax hike)… if no one buys why produce finished goods… if you are now producing finished goods … why buy raw materials? Hence the Manufacturing PMi issues in Germany.\r\n\r\nSix years on and the ECB and the politicians should be patting themselves on the back for a job well done in the EUROZONE. Instead it is mainly a shambles.\r\n\r\nThe Financial sector was stabilized in the initial period after the 2008 crash, but, six years on there are still EUROZONE bank stress tests being undertaken… give me a break shouldn\'t this have been resolved on first, second or maybe the third attempt of stress tests.\r\n\r\nThis sums up the EUROZONE, wishy-washy and totally 100% useless at completing anything effectively.\r\n\r\nDraghi is guilty of a lot of things and frankly, for six years he has been talking, talking and talking but has been very low on actual action. Apart from interest rates no extraordinary measures or unconventional measures have really been used to arrest the decline of the EUROZONE and tackle growth, unemployment or confidence.\r\n\r\nThe EUROZONE is now bordering on RECCESSION never mind struggling with DEFLATION.\r\n\r\nThis does NOT look good for the population living under the EUROZONE flag.\r\n\r\nIf there were no EUROZONE, could each individual country have tackled the problems better on their own rather than being under the constraints of a centralized policy governed allegedly by a central bank to represent all…. the ECB, which is basically, in my opinion, a sub-branch of the Bundesbank?\r\n\r\nPersonally, I think on their own most countries after the crash would have protected their financial systems and then revised their currency valuations probably against the USD to move forward. This is where the periphery countries in particular have suffered most. They have not been able to tackle issues head on, fix and move on, instead they are under a very tight fiscal regime, because that is how Germany operates.\r\n\r\nWhat next?\r\n\r\nUltimately, I think that the FED will rescue the EURZONE through a strengthening USD. However, this is not the point, a strong, direct and unambiguous Central Bank is paramount to give the people and the financial markets in the area or country it represents confidence. If a poll were undertaken today in the EUROZONE about the effectiveness of the ECB I would love to see the results.\r\n\r\nOne size does NOT fit all in this instance and a huge amount of financial pain and stress has been thrown at people for what? Six years of a non-event, back to square one.\r\n\r\nWe live in a results orientated society wanting instant gratification.\r\n\r\nThe master plan for the EUROZONE was hatched years ago over a glass of Chateauneuf du Pape, a bottle of Cognac and fine cigars. It was NOT thought properly through to cope with a mix of diverse multi cultures, with completely different ways of coping with and addressing core problems that face individual countries. Never mind what would happen if… scenarios put in place. This is hardly surprising when you look at the achievements of the EUROZONE.\r\n<p style=\"text-align: center;\"><strong>The effectiveness of the currency union is questionable in fact I think a failure.</strong></p>\r\n<p style=\"text-align: center;\"><strong>There is NO coordinated foreign policy in the EUROZONE.</strong></p>\r\n<p style=\"text-align: center;\"><strong>There is NO coordinated present or future energy plan in the EUROZONE.</strong></p>\r\n<p style=\"text-align: center;\"><strong>There is NO tax harmonization plan in the EUROZONE.</strong></p>\r\n<p style=\"text-align: center;\"><strong>There is NO “how to tackle” EUROZONE unemployment plan in the EUROZONE.</strong></p>\r\n<p style=\"text-align: center;\"><strong>There is NO universal social chapter, minimum wage, weekly working hours, retirement age agreement in the EUROZONE.</strong><strong> </strong></p>\r\nI am not saying that Draghi is single handedly responsible for the above, but he is a vital cog in the EUROZONE machine.\r\n\r\nIn my opinion, Draghi has failed in his areas of responsibility. I know people will say he has calmed the banking sector. But the banks do not lend. It\'s a failure. It is so much a failure he had to introduce negative deposit rates in a last ditch attempt to try and force the banks to lend again and to try and get some growth into ailing economies.\r\n\r\nHis tenure is a failure based on his inability to use his powers effectively or to persuade or demand powers to enable the ECB and himself to manage effectively. Either way; I think its time for him to say goodbye and move on, if he were a manager of a Barclays Premiership Football Team he would have been long gone by now.\r\n\r\nComing up he has another opportunity at the next press conference to deliver once and for all what the markets are demanding.\r\n\r\nA fully explained package of measures including:\r\n\r\nQuantitative Easing (QE) that will drag the EUROZONE away from recession. He needs something dramatic like QE to reduce the EUR exchange rate to reduce export costs and in so doing this will make EUROZONE exports of finished goods and services cheaper to sell in the open market. This will provide employment, which will reduce the social burden and add more money to a countries tax income. If the increased tax income is used for larger scale infrastructure this will further reduce unemployment and increase the tax income and once again reduce the social burden.\r\n\r\nIf he talks at the next ECB Press Conference and once again “kicks the can down the road” and delivers no comprehensive action, then I think that he should step down.\r\n\r\nThis would be the first step in the break –up of the single currency union. The ECB has been shown up with all it’s shortcomings for the world to see.\r\n\r\nThe EUROZONE needs change and it needs a new fresh mandate for the ECB to allow it to function, it’s not just about Germany. Draghi has not fought the fight to do this.\r\n\r\nIn my opinion it\'s a long overdue time for him to move on and if at the next ECB Press Conference he does NOT deliver this would be the time to step aside.\r\n\r\n&nbsp;\r\n<ol start=\"4\">\r\n	<li><span style=\"font-size: 14pt;\"><strong> LOOKING FORWARD…THE KEY SUPPORT &amp; RESISTANCE LEVELS WITH THE USD MAJORS:</strong></span></li>\r\n</ol>\r\n<strong>EUR/USD: Closing Price 1.2757.</strong> After a very eventful week, the EUR/USD ends the week not too far for where it started. Moving forward, I am uncertain as to how sentiment will play out early next week. Basically nothing has changed. The ECB and FED are on divergent monetary policies and as such the EUR should weaken moving forward. We may see some consolidation at present levels for a while and be somewhat range bound. The support level that interests me is 1.2650 and the resistance level at 1.2885.\r\n\r\n<strong>GBP/USD: Closing Price 1.6088</strong>. Like the EUR/USD; after a very eventful week literally no change in the closing weekly price. Am I bullish or am I bearish this pair? I am for once not sure. If push came to a shove I would have to say bearish. My reasons would be to look where it is following the Scottish referendum and following Carney’s Mansion House speech. It is a bit of wait and see for me with this pair, but there lies good support at 1.6020 and 1.6125 has nice resistance, in fact above 1.6130 and I think that there is a chance of a squeeze.<strong> </strong>\r\n\r\n<strong>AUD/USD: Closing Price 0.8748</strong>. Probably not to Glenn Stevens liking, but the AUD/USD will finish the week about 100 pips higher than last week. As long as we consolidate in equities after the turmoil the Aussie will stay inflated in my opinion. Support is at 0.8690 and resistance will be strong at 0.8825.\r\n\r\n<strong>NZD/USD: Closing Price 0.7913</strong>. Just like the Aussie about a 100 pips higher closing this week in comparison to last week. I am still bearish this pair, but I do find it very frustrating to trade at times. It is quite illiquid in comparison to other USD pairs and in the past it was quite directional. Now at times it’s a pain in the a**. Support for the coming sessions should be good at -.7850 and resistance should be strong at 0.8000.\r\n\r\n<strong>USD/CAD: Closing Price 1.1276.</strong> I am long the damn “loonie” again…why do I inflict this pain upon myself? In the immediate future we have a BOC rate decision, press conference and Interest Rate statement to contend with this Wednesday, never mind the price of a barrel of WTi. Support is at 1.1170 and resistance is at 1.1375.\r\n\r\n<strong>USD/CHF: Closing Price 0.9462</strong>. I couldn’t be bothered about this pair for a while, I wrote down 0.9400 on a post-it note to remind me to get long at this level. I should have placed a limit order with the brokers but I did not. It bounced nicely off 0.9400 about three times; I had three opportunities and took none of them. This pair is now destined to rocket to parity. Just in case it pulls back, will someone remind me to enter long at the support level of 0.9400? Resistance will be good at 0.9540.\r\n\r\n<strong>USD/JPY: Closing Price 106.87. </strong>I traded the EUR/JPY during the week twice and made $$$ twice. Those were my first JPY trades for quite sometime. Looking at the USD/JPY we have bounced very nicely off 105.00, back though 105.50 and beyond. Looking ahead I see support at 105.60 and resistance at 107.50.\r\n\r\n<strong> </strong>\r\n<ol start=\"5\">\r\n	<li><span style=\"font-size: 14pt;\"><strong> MAJOR FOREX NEWS THIS WEEK THAT INTERESTS ME:</strong></span></li>\r\n</ol>\r\nSUNDAY: N/A.\r\n\r\nMONDAY: AUD – Monetary Policy Meeting Minutes.\r\nMONDAY: CNY – GDP and Industrial Production.\r\n\r\nTUESDAY: AUD - CPi.\r\n\r\nWEDNESDAY: CAD – Core Retail Sales, BOC Rate Decision, Press Conference\r\nWEDNESDAY: AUD – Glenn Stevens speaks.\r\nWEDNESDAY: NZD – CPi.\r\nWEDNESDAY: CNY – HSBC Flash Manufacturing PMi.\r\n\r\nTHURSDAY: EUR – French &amp; German Flash Manufacturing PMi.\r\nTHURSDAY: GBP – Retail Sales.\r\nTHURSDAY: NZD – Trade Balance.\r\n\r\nFRIDAY: N/A.\r\n\r\n<strong> </strong><strong> </strong>\r\n<ol start=\"6\">\r\n	<li><span style=\"font-size: 14pt;\"><strong> FINAL THOUGHTS:</strong></span></li>\r\n</ol>\r\nSome very interesting news items coming this week so we will have to be on our guard. Overriding this, I am much more interested in the fall out after last weeks turmoil and volatility.\r\n\r\nMy gut feeling tells me consolidation for a while, but geopolitical news could over shadow this thought that I have.\r\n\r\nIs the market still directional\r\n\r\nIt should be but ahead of this directional trading resuming, in my opinion, we should see consolidation.\r\n\r\nFrom a trading perspective we should therefore, given the uncertainty and volatility, trade with smaller position sizes and wider stops.\r\n\r\nJust remember; always use the RISK MANAGEMENT principles outlined in the PREMIUM SERVICE web site TRADING ESSENTIALS section to ensure that you do not over-stretch your Forex account. Longevity in the Forex market is only achieved through strong TRADING DISCIPLINES that include effective and strategic POSITION SIZING.\r\n\r\nGood Luck.\r\n\r\nScott Pickering\r\nThe Pip Accumulator\r\nSaturday October 18th 2014\r\n\r\nEMAIL / FOLLOW ME AT:\r\ndrivethru@weeklyfxdrivethru.com\r\nTwitter: @pipaccumulator\r\nGoogle+/scottpickering<strong> </strong>\r\n\r\n<strong>DISCLAIMER:</strong>\r\n\r\nFLASH, 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.','WHAT’S NEXT… DRAGHI’S RESIGNATION?','','inherit','open','closed','','4597-revision-v1','','','2014-10-18 15:06:35','2014-10-18 20:06:35','',4597,'https://weeklyfxdrivethru.com/4597-revision-v1/',0,'revision','',0),(4600,1,'2014-10-18 15:08:43','2014-10-18 20:08:43','&nbsp;\r\n<ol>\r\n	<li><span style=\"font-size: 14pt;\"><strong> INTRODUCTION:</strong></span></li>\r\n</ol>\r\n<strong>“Holy smokes… was that a week of volatility or what?”</strong>\r\n\r\nThe above was how I started last week’s blog. That was nothing in terms of volatility compared to what we saw last Wednesday and Thursday. That was real volatility.\r\n\r\nDuring the last 72 hours or so, I have had several emails and twitter exchanges with PREMIUM SERVICE subscribers about what happened and why there was such a dramatic chain of events so quickly.\r\n\r\nFrom my perspective it was a number of factors all hitting at the same time and FEAR took over.\r\n\r\n(PREMIUM SERVICE subscribers will be well versed in my thoughts on the two primary drivers of the Forex markets; FEAR and GREED. I have several articles in the PREMIUM SERVICE library under the section TRADING ESSENTIALS that refer to FEAR and GREED).\r\n\r\nThe contributing factors in my opinion were: -\r\n<ol>\r\n	<li>We have been in a one sided market for the better part of six years.</li>\r\n	<li>Only very recently have the bears raised their heads.</li>\r\n	<li>The FED is ending Quantitative Easing (QE).</li>\r\n	<li>The ECB is as effective as a “Headless chicken running around a farmyard”. Draghi is too weak to do anything other than talk. Germany runs the EUROZONE and the ECB. Germany does NOT want Quantitative Easing (QE).</li>\r\n	<li>The FED and ECB are on divergent monetary policies. The FED tightening and ECB loosening.</li>\r\n	<li>WTi (OIL) was close to key $80.00 support.</li>\r\n	<li>ISIS.</li>\r\n	<li>EBOLA.</li>\r\n	<li>Russian sanctions.</li>\r\n	<li>Russia / Ukraine issues.</li>\r\n</ol>\r\nAbove there are 10 reasons / factors that spring to my mind immediately.\r\n\r\nLet me add factor number 11 below: -\r\n\r\nNow lets face simple facts. Most traders in the equity markets know nothing about a two-sided market as the experienced ones from the past have moved on. All the present incumbents know is “BUY THE DIP”…”BUY THE DIP”…”BUY THE FECK** DIP”. Therefore, FEAR will be something they do NOT react to very well. They also believe, probably correctly that the FED will ultimately step in and backstop them at some stage. They see their jobs as “jobs for the boys”… Stock markets (in particular the U.S. because of the 401K mentality) will always be supportive irrespective of company valuations, which are extreme in many cases… I have NOT said the word bubble yet…I will save that for another blog.\r\n\r\nGiven these factors, the domino effect takes over and FEAR rules. I know many of you will say bulls**t, but these are my thoughts. For the past three weeks, I have been referring to my blog of three weeks ago stating that a collapse in the equity markets was on the cards. If you have not read the previous blogs they are all on the welcome page of my website THE WEEKLY FX DRIVE THRU at www.weeklyfxdrivethru.com\r\n\r\nThe funniest FX event of the week took place Thursday evening (EDT). At about 18:30 EDT the NZD/USD collapsed about 70-100 pips on the back of a RBNZ release stating that the NZD was way over-valued and needed to be weakened to achieve the RBNZ fair value level. About 5 minutes later the release from the RBNZ was withdrawn stating that is was an old data press release and was leaked in error. The NZD/USD gave back its entire move lower in about 5 minutes.\r\n\r\nTherefore…. Mr. Wheeler, governor of the RBNZ… here’s what you do to bring down the value of the NZD.\r\n\r\n<em>Apparently, the markets are NOT clever enough to distinguish between old and new economic data releases. Pick out some old RBNZ minutes saying that you are going to intervene directly into the Forex market. Then release them once a week and inside 4 months you will have your desired NZD exchange rate in the NZD/USD. Throw in the odd personal appearance for good measure. This is, simple, clear, unambiguous guidance to the RBNZ from me… you are most welcome my invoice is in the mail.</em>\r\n\r\nI spent the last couple of days, sidelined doing voyeur trades and nursing some open trades from the Wednesday fallout…still doing that now!\r\n\r\n<strong> </strong>\r\n<ol start=\"2\">\r\n	<li><strong><span style=\"font-size: 14pt;\"> THE PREMIUM SERVICE: –</span></strong></li>\r\n</ol>\r\n<p style=\"text-align: center;\"><span style=\"font-size: 12pt;\"><strong>OVERVIEW, TRADING ACTIVITY, NEWS UPDATE &amp; MONTHLY AND\r\n</strong><strong>YEAR TO DATE TRADING SUMMARIES</strong></span></p>\r\n<span style=\"text-decoration: underline;\">2.1 OVERVIEW:</span>\r\n\r\nFor 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 the page there are three drop down menus: PREMIUM SERVICE, SIGN-UP and DISCLAIMER. Further details and how to join are all contained there. You will need at PayPal account to subscribe.\r\n\r\n<span style=\"text-decoration: underline;\">2.2 TRADING ACTIVITY:</span>\r\n\r\nWhat a week for trading. It was so fast and furious on Wednesday, I scalped trades “OFF / AWAY” from the PREMIUM SERVICE as it was just impossible to trade / communicate / tweet when things were moving so fast.\r\n\r\nThankfully, as regular followers know, when I trade my FUNDAMENTAL TRADE set-ups these trades are HEDGED from losses between 100 and 150 pips. Everything was hedged last Wednesday. I sat in very large loss trades through Wednesday / Thursday as I scalped away from my core trades. On Thursday morning when commodity crosses ripped higher I exited 4/5 trades with nice profits.\r\n\r\nNow, I just have 3 LIVE trades left all are hedged. My maximum loss would be 325 pips, which is well within my RISK MANAGEMENT and RISK TOLERANCE guidelines.\r\n\r\n(Further details on HEDGING, RISK TOLERANCE and RISK MANAGEMENT can be found inside the PREMIUM SERVICE under TRADING ESSENTIALS)\r\n\r\nHowever, after all that drama, at the end of the week, I had nice trading profits. During the week from single lot trades more than 600 pips were generated, which is in line with my objectives. Obviously, those who trade multi-lot would have generated a further extra income over and above the amounts quoted. I hope that my PREMIUM SERVICE subscribers benefited greatly from these set-ups as well.\r\n\r\n<span style=\"text-decoration: underline;\">2.3 MONTHLY AND YEAR TO DATE TRADING SUMMARIES<strong>:</strong></span>\r\n\r\nBelow I show the up to date performances for my various trading styles. Full excel spreadsheets are in the subscriber area of the PREMIUM SERVICE website.\r\n\r\nBelow are the excel spreadsheets covering this month so far and the year 2014 to date.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/10/PREM-SERV-PROFITS1-18102014.png\"><img class=\"aligncenter size-full wp-image-4579\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/10/PREM-SERV-PROFITS1-18102014.png\" alt=\"PREM SERV PROFITS1 18102014\" width=\"448\" height=\"421\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/10/PREM-SERV-PROFITS-2-18102014.png\"><img class=\"aligncenter size-full wp-image-4580\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/10/PREM-SERV-PROFITS-2-18102014.png\" alt=\"PREM SERV PROFITS 2 18102014\" width=\"458\" height=\"417\" /></a>\r\n\r\n<span style=\"text-decoration: underline;\">PLEASE NOTE:</span>\r\n\r\nThe above examples in sections 2.2 and 2.3 are for illustration purposes only. The profitability examples detailed above are based solely upon single lot trading, regardless of lot type. If multiple lot sizes are traded the profitability margins will be different than those shown.\r\n\r\nJust to provide more information so you understand where I am coming from with the risk / reward statements above. All of my trades are of different sizes and different size lot types. The above does not reflect the actual trading performance, but it does show you the direction of the performance of the trades placed. I like to add to trades, profits are taken as the trade progresses and my overall cost average moves several times. All of my trades are of different lot styles. I trade a mixture of micro lots, mini lots and standard lots across my brokers.\r\n\r\nThe above results simply display your profit or loss if you placed a single lot trade on all the set-ups suggested and did nothing else.\r\n\r\nYou must always remember to follow properly executed RISK MANAGEMENT and POSITION SIZING disciplines with all your trades and remember that Forex trading with a high degree of leverage can significantly increase your profits and losses. You should trade with a TRADE PLAN and NOT risk monies that you cannot afford to lose.\r\n\r\n<strong> </strong>\r\n<ol start=\"3\">\r\n	<li><span style=\"font-size: 14pt;\"><strong> THE VIEW FROM MY TRADING DESK:</strong></span></li>\r\n</ol>\r\nI am NOT going to talk about dominoes this week, or refer to my previous blogs about dominoes.\r\n\r\n<em>\r\n</em>\r\n<p style=\"text-align: center;\"><span style=\"font-size: 12pt;\"><strong>WHATS’S NEXT… DRAGHI’S RESIGNATION?</strong></span><strong> </strong></p>\r\nThe title if nothing else will attract a few more readers.\r\n\r\nSince I started writing blogs three years ago, I have been a constant skeptic about the EUROZONE, not the trading community, I think that is an excellent idea in many areas, laughable in others.\r\n\r\nMy skepticism emanates from the single currency.\r\n\r\nI have written so many times that 18 counties or so using the same chequebook just will not work. One central bank (the ECB) trying to do what’s best for 18 countries all with different issues / problems is just impossible. It is further exacerbated by the fact that there is one super almighty economic powerhouse within the single currency (Germany) that has power, money and greater financial stability than most of the other member countries.\r\n\r\nWhen, the world suffered through the financial crash of 2008, the FED, BOE and BOJ sought Quantitative Easing (QE) as the route to support their equity markets. The ECB through a German order used austerity. Lets make the people pay more taxes, reduce services… make the bastards suffer.\r\n\r\nWell that didn’t work…\r\n\r\nEight years later the FED and BOE are looking at raising rates, probably the FED sooner than the BOE (proximity issues to Europe, could affect the BOE more than we think).\r\n\r\nWhere is the EUROZONE now…six years later?\r\n\r\nMore fecked up than ever before…\r\n\r\nEven Germany is now releasing poor economic data. The periphery countries, ITALY, SPAIN, GREECE, PORTUGAL, IRELAND and CYPRUS are still struggling after bailouts to get their economies motoring. Economic growth is one of the major issues, no growth, DEFLATION… or as the ECB says DIS-INFLATION… call a spade a spade - it is what it is DEFLATION\r\n\r\nNow at this point, I could lay down a plethora of economic data from the EUROZONE countries, but I am going to be selective but wide ranging at the same time in the chart below.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/10/EZ-ECON-DATA-18102014.png\"><img class=\"aligncenter size-full wp-image-4586\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/10/EZ-ECON-DATA-18102014.png\" alt=\"EZ ECON DATA 18102014\" width=\"719\" height=\"493\" /></a>\r\n\r\nStatistics such as those above can be manipulated in numerous different ways and as Forex traders reading and interpreting economic data on a daily basis as well as observing politicians in action, I need say no more on this topic.\r\n\r\nHowever, six years on and with people suffering through Austerity measures, I ask the question how far has the EUROZONE progressed.\r\n\r\nHere are my highlights: -\r\n<ol>\r\n	<li>Unemployment stubbornly high in Spain and Greece.</li>\r\n	<li>Debt to GDP – Italy, Ireland, Portugal, Greece and Cyprus way too high.</li>\r\n	<li>Retail Sales – very patchy</li>\r\n	<li>Consumer Confidence numbers are in the main below 100.</li>\r\n	<li>PMi statistics are patchy. By now the averages should be well above contracting levels of sub 50. Germany now below 50. This has all the signs of RECESSION on the cards in the near future.</li>\r\n	<li>GDP – there is zero inflation in theEUROZONE. The targethas been revised down and down again and even now the area average is 0.70% against the latest lowball revision of 1.2%. This equals DEFLATION.Plus,</li>\r\n	<li>The high exchange rate of the EUR against it’s key trading partners the USA and Japan in particular. This is making exports very expensive and uncompetitive.</li>\r\n</ol>\r\nThe world in generally on a slowdown (its not just the EUROZONE), consumer confidence worldwide is low…. consumers are generally not spending (USA, UK and Japan following Sales Tax hike)… if no one buys why produce finished goods… if you are now producing finished goods … why buy raw materials? Hence the Manufacturing PMi issues in Germany.\r\n\r\nSix years on and the ECB and the politicians should be patting themselves on the back for a job well done in the EUROZONE. Instead it is mainly a shambles.\r\n\r\nThe Financial sector was stabilized in the initial period after the 2008 crash, but, six years on there are still EUROZONE bank stress tests being undertaken… give me a break shouldn\'t this have been resolved on first, second or maybe the third attempt of stress tests.\r\n\r\nThis sums up the EUROZONE, wishy-washy and totally 100% useless at completing anything effectively.\r\n\r\nDraghi is guilty of a lot of things and frankly, for six years he has been talking, talking and talking but has been very low on actual action. Apart from interest rates no extraordinary measures or unconventional measures have really been used to arrest the decline of the EUROZONE and tackle growth, unemployment or confidence.\r\n\r\nThe EUROZONE is now bordering on RECESSION never mind struggling with DEFLATION.\r\n\r\nThis does NOT look good for the population living under the EUROZONE flag.\r\n\r\nIf there were no EUROZONE, could each individual country have tackled the problems better on their own rather than being under the constraints of a centralized policy governed allegedly by a central bank to represent all…. the ECB, which is basically, in my opinion, a sub-branch of the Bundesbank?\r\n\r\nPersonally, I think on their own most countries after the crash would have protected their financial systems and then revised their currency valuations probably against the USD to move forward. This is where the periphery countries in particular have suffered most. They have not been able to tackle issues head on, fix and move on, instead they are under a very tight fiscal regime, because that is how Germany operates.\r\n\r\nWhat next?\r\n\r\nUltimately, I think that the FED will rescue the EUROZONE through a strengthening USD. However, this is not the point, a strong, direct and unambiguous Central Bank is paramount to give the people and the financial markets in the area or country it represents confidence. If a poll were undertaken today in the EUROZONE about the effectiveness of the ECB I would love to see the results.\r\n\r\nOne size does NOT fit all in this instance and a huge amount of financial pain and stress has been thrown at people for what? Six years of a non-event, back to square one.\r\n\r\nWe live in a results orientated society wanting instant gratification.\r\n\r\nThe master plan for the EUROZONE was hatched years ago over a glass of Chateauneuf du Pape, a bottle of Cognac and fine cigars. It was NOT thought properly through to cope with a mix of diverse multi cultures, with completely different ways of coping with and addressing core problems that face individual countries. Never mind what would happen if… scenarios put in place. This is hardly surprising when you look at the achievements of the EUROZONE.\r\n<p style=\"text-align: center;\"><strong>The effectiveness of the currency union is questionable in fact I think a failure.</strong></p>\r\n<p style=\"text-align: center;\"><strong>There is NO coordinated foreign policy in the EUROZONE.</strong></p>\r\n<p style=\"text-align: center;\"><strong>There is NO coordinated present or future energy plan in the EUROZONE.</strong></p>\r\n<p style=\"text-align: center;\"><strong>There is NO tax harmonization plan in the EUROZONE.</strong></p>\r\n<p style=\"text-align: center;\"><strong>There is NO “how to tackle” EUROZONE unemployment plan in the EUROZONE.</strong></p>\r\n<p style=\"text-align: center;\"><strong>There is NO universal social chapter, minimum wage, weekly working hours, retirement age agreement in the EUROZONE.</strong><strong> </strong></p>\r\nI am not saying that Draghi is single handedly responsible for the above, but he is a vital cog in the EUROZONE machine.\r\n\r\nIn my opinion, Draghi has failed in his areas of responsibility. I know people will say he has calmed the banking sector. But the banks do not lend. It\'s a failure. It is so much a failure he had to introduce negative deposit rates in a last ditch attempt to try and force the banks to lend again and to try and get some growth into ailing economies.\r\n\r\nHis tenure is a failure based on his inability to use his powers effectively or to persuade or demand powers to enable the ECB and himself to manage effectively. Either way; I think its time for him to say goodbye and move on, if he were a manager of a Barclays Premiership Football Team he would have been long gone by now.\r\n\r\nComing up he has another opportunity at the next press conference to deliver once and for all what the markets are demanding.\r\n\r\nA fully explained package of measures including:\r\n\r\nQuantitative Easing (QE) that will drag the EUROZONE away from recession. He needs something dramatic like QE to reduce the EUR exchange rate to reduce export costs and in so doing this will make EUROZONE exports of finished goods and services cheaper to sell in the open market. This will provide employment, which will reduce the social burden and add more money to a countries tax income. If the increased tax income is used for larger scale infrastructure this will further reduce unemployment and increase the tax income and once again reduce the social burden.\r\n\r\nIf he talks at the next ECB Press Conference and once again “kicks the can down the road” and delivers no comprehensive action, then I think that he should step down.\r\n\r\nThis would be the first step in the break –up of the single currency union. The ECB has been shown up with all it’s shortcomings for the world to see.\r\n\r\nThe EUROZONE needs change and it needs a new fresh mandate for the ECB to allow it to function, it’s not just about Germany. Draghi has not fought the fight to do this.\r\n\r\nIn my opinion it\'s a long overdue time for him to move on and if at the next ECB Press Conference he does NOT deliver this would be the time to step aside.\r\n\r\n&nbsp;\r\n<ol start=\"4\">\r\n	<li><span style=\"font-size: 14pt;\"><strong> LOOKING FORWARD…THE KEY SUPPORT &amp; RESISTANCE LEVELS WITH THE USD MAJORS:</strong></span></li>\r\n</ol>\r\n<strong>EUR/USD: Closing Price 1.2757.</strong> After a very eventful week, the EUR/USD ends the week not too far for where it started. Moving forward, I am uncertain as to how sentiment will play out early next week. Basically nothing has changed. The ECB and FED are on divergent monetary policies and as such the EUR should weaken moving forward. We may see some consolidation at present levels for a while and be somewhat range bound. The support level that interests me is 1.2650 and the resistance level at 1.2885.\r\n\r\n<strong>GBP/USD: Closing Price 1.6088</strong>. Like the EUR/USD; after a very eventful week literally no change in the closing weekly price. Am I bullish or am I bearish this pair? I am for once not sure. If push came to a shove I would have to say bearish. My reasons would be to look where it is following the Scottish referendum and following Carney’s Mansion House speech. It is a bit of wait and see for me with this pair, but there lies good support at 1.6020 and 1.6125 has nice resistance, in fact above 1.6130 and I think that there is a chance of a squeeze.<strong> </strong>\r\n\r\n<strong>AUD/USD: Closing Price 0.8748</strong>. Probably not to Glenn Stevens liking, but the AUD/USD will finish the week about 100 pips higher than last week. As long as we consolidate in equities after the turmoil the Aussie will stay inflated in my opinion. Support is at 0.8690 and resistance will be strong at 0.8825.\r\n\r\n<strong>NZD/USD: Closing Price 0.7913</strong>. Just like the Aussie about a 100 pips higher closing this week in comparison to last week. I am still bearish this pair, but I do find it very frustrating to trade at times. It is quite illiquid in comparison to other USD pairs and in the past it was quite directional. Now at times it’s a pain in the a**. Support for the coming sessions should be good at -.7850 and resistance should be strong at 0.8000.\r\n\r\n<strong>USD/CAD: Closing Price 1.1276.</strong> I am long the damn “loonie” again…why do I inflict this pain upon myself? In the immediate future we have a BOC rate decision, press conference and Interest Rate statement to contend with this Wednesday, never mind the price of a barrel of WTi. Support is at 1.1170 and resistance is at 1.1375.\r\n\r\n<strong>USD/CHF: Closing Price 0.9462</strong>. I couldn’t be bothered about this pair for a while, I wrote down 0.9400 on a post-it note to remind me to get long at this level. I should have placed a limit order with the brokers but I did not. It bounced nicely off 0.9400 about three times; I had three opportunities and took none of them. This pair is now destined to rocket to parity. Just in case it pulls back, will someone remind me to enter long at the support level of 0.9400? Resistance will be good at 0.9540.\r\n\r\n<strong>USD/JPY: Closing Price 106.87. </strong>I traded the EUR/JPY during the week twice and made $$$ twice. Those were my first JPY trades for quite sometime. Looking at the USD/JPY we have bounced very nicely off 105.00, back though 105.50 and beyond. Looking ahead I see support at 105.60 and resistance at 107.50.\r\n\r\n<strong> </strong>\r\n<ol start=\"5\">\r\n	<li><span style=\"font-size: 14pt;\"><strong> MAJOR FOREX NEWS THIS WEEK THAT INTERESTS ME:</strong></span></li>\r\n</ol>\r\nSUNDAY: N/A.\r\n\r\nMONDAY: AUD – Monetary Policy Meeting Minutes.\r\nMONDAY: CNY – GDP and Industrial Production.\r\n\r\nTUESDAY: AUD - CPi.\r\n\r\nWEDNESDAY: CAD – Core Retail Sales, BOC Rate Decision, Press Conference\r\nWEDNESDAY: AUD – Glenn Stevens speaks.\r\nWEDNESDAY: NZD – CPi.\r\nWEDNESDAY: CNY – HSBC Flash Manufacturing PMi.\r\n\r\nTHURSDAY: EUR – French &amp; German Flash Manufacturing PMi.\r\nTHURSDAY: GBP – Retail Sales.\r\nTHURSDAY: NZD – Trade Balance.\r\n\r\nFRIDAY: N/A.\r\n\r\n<strong> </strong><strong> </strong>\r\n<ol start=\"6\">\r\n	<li><span style=\"font-size: 14pt;\"><strong> FINAL THOUGHTS:</strong></span></li>\r\n</ol>\r\nSome very interesting news items coming this week so we will have to be on our guard. Overriding this, I am much more interested in the fall out after last weeks turmoil and volatility.\r\n\r\nMy gut feeling tells me consolidation for a while, but geopolitical news could over shadow this thought that I have.\r\n\r\nIs the market still directional\r\n\r\nIt should be but ahead of this directional trading resuming, in my opinion, we should see consolidation.\r\n\r\nFrom a trading perspective we should therefore, given the uncertainty and volatility, trade with smaller position sizes and wider stops.\r\n\r\nJust remember; always use the RISK MANAGEMENT principles outlined in the PREMIUM SERVICE web site TRADING ESSENTIALS section to ensure that you do not over-stretch your Forex account. Longevity in the Forex market is only achieved through strong TRADING DISCIPLINES that include effective and strategic POSITION SIZING.\r\n\r\nGood Luck.\r\n\r\nScott Pickering\r\nThe Pip Accumulator\r\nSaturday October 18th 2014\r\n\r\nEMAIL / FOLLOW ME AT:\r\ndrivethru@weeklyfxdrivethru.com\r\nTwitter: @pipaccumulator\r\nGoogle+/scottpickering<strong> </strong>\r\n\r\n<strong>DISCLAIMER:</strong>\r\n\r\nFLASH, 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.','WHAT’S NEXT… DRAGHI’S RESIGNATION?','','inherit','open','closed','','4597-revision-v1','','','2014-10-18 15:08:43','2014-10-18 20:08:43','',4597,'https://weeklyfxdrivethru.com/4597-revision-v1/',0,'revision','',0),(4599,1,'2014-10-18 15:08:03','2014-10-18 20:08:03','&nbsp;\r\n<ol>\r\n	<li><span style=\"font-size: 14pt;\"><strong> INTRODUCTION:</strong></span></li>\r\n</ol>\r\n<strong>“Holy smokes… was that a week of volatility or what?”</strong>\r\n\r\nThe above was how I started last week’s blog. That was nothing in terms of volatility compared to what we saw last Wednesday and Thursday. That was real volatility.\r\n\r\nDuring the last 72 hours or so, I have had several emails and twitter exchanges with PREMIUM SERVICE subscribers about what happened and why there was such a dramatic chain of events so quickly.\r\n\r\nFrom my perspective it was a number of factors all hitting at the same time and FEAR took over.\r\n\r\n(PREMIUM SERVICE subscribers will be well versed in my thoughts on the two primary drivers of the Forex markets; FEAR and GREED. I have several articles in the PREMIUM SERVICE library under the section TRADING ESSENTIALS that refer to FEAR and GREED).\r\n\r\nThe contributing factors in my opinion were: -\r\n<ol>\r\n	<li>We have been in a one sided market for the better part of six years.</li>\r\n	<li>Only very recently have the bears raised their heads.</li>\r\n	<li>The FED is ending Quantitative Easing (QE).</li>\r\n	<li>The ECB is as effective as a “Headless chicken running around a farmyard”. Draghi is too weak to do anything other than talk. Germany runs the EUROZONE and the ECB. Germany does NOT want Quantitative Easing (QE).</li>\r\n	<li>The FED and ECB are on divergent monetary policies. The FED tightening and ECB loosening.</li>\r\n	<li>WTi (OIL) was close to key $80.00 support.</li>\r\n	<li>ISIS.</li>\r\n	<li>EBOLA.</li>\r\n	<li>Russian sanctions.</li>\r\n	<li>Russia / Ukraine issues.</li>\r\n</ol>\r\nAbove there are 10 reasons / factors that spring to my mind immediately.\r\n\r\nLet me add factor number 11 below: -\r\n\r\nNow lets face simple facts. Most traders in the equity markets know nothing about a two-sided market as the experienced ones from the past have moved on. All the present incumbents know is “BUY THE DIP”…”BUY THE DIP”…”BUY THE FECK** DIP”. Therefore, FEAR will be something they do NOT react to very well. They also believe, probably correctly that the FED will ultimately step in and backstop them at some stage. They see their jobs as “jobs for the boys”… Stock markets (in particular the U.S. because of the 401K mentality) will always be supportive irrespective of company valuations, which are extreme in many cases… I have NOT said the word bubble yet…I will save that for another blog.\r\n\r\nGiven these factors, the domino effect takes over and FEAR rules. I know many of you will say bulls**t, but these are my thoughts. For the past three weeks, I have been referring to my blog of three weeks ago stating that a collapse in the equity markets was on the cards. If you have not read the previous blogs they are all on the welcome page of my website THE WEEKLY FX DRIVE THRU at www.weeklyfxdrivethru.com\r\n\r\nThe funniest FX event of the week took place Thursday evening (EDT). At about 18:30 EDT the NZD/USD collapsed about 70-100 pips on the back of a RBNZ release stating that the NZD was way over-valued and needed to be weakened to achieve the RBNZ fair value level. About 5 minutes later the release from the RBNZ was withdrawn stating that is was an old data press release and was leaked in error. The NZD/USD gave back its entire move lower in about 5 minutes.\r\n\r\nTherefore…. Mr. Wheeler, governor of the RBNZ… here’s what you do to bring down the value of the NZD.\r\n\r\n<em>Apparently, the markets are NOT clever enough to distinguish between old and new economic data releases. Pick out some old RBNZ minutes saying that you are going to intervene directly into the Forex market. Then release them once a week and inside 4 months you will have your desired NZD exchange rate in the NZD/USD. Throw in the odd personal appearance for good measure. This is, simple, clear, unambiguous guidance to the RBNZ from me… you are most welcome my invoice is in the mail.</em>\r\n\r\nI spent the last couple of days, sidelined doing voyeur trades and nursing some open trades from the Wednesday fallout…still doing that now!\r\n\r\n<strong> </strong>\r\n<ol start=\"2\">\r\n	<li><strong></strong><strong><span style=\"font-size: 14pt;\"> THE PREMIUM SERVICE: –</span></strong>&nbsp;</li>\r\n</ol>\r\n<p style=\"text-align: center;\"><span style=\"font-size: 12pt;\"><strong>OVERVIEW, TRADING ACTIVITY, NEWS UPDATE &amp; MONTHLY AND\r\n</strong><strong>YEAR TO DATE TRADING SUMMARIES</strong></span></p>\r\n<span style=\"text-decoration: underline;\">2.1 OVERVIEW:</span>\r\n\r\nFor 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 the page there are three drop down menus: PREMIUM SERVICE, SIGN-UP and DISCLAIMER. Further details and how to join are all contained there. You will need at PayPal account to subscribe.\r\n\r\n<span style=\"text-decoration: underline;\">2.2 TRADING ACTIVITY:</span>\r\n\r\nWhat a week for trading. It was so fast and furious on Wednesday, I scalped trades “OFF / AWAY” from the PREMIUM SERVICE as it was just impossible to trade / communicate / tweet when things were moving so fast.\r\n\r\nThankfully, as regular followers know, when I trade my FUNDAMENTAL TRADE set-ups these trades are HEDGED from losses between 100 and 150 pips. Everything was hedged last Wednesday. I sat in very large loss trades through Wednesday / Thursday as I scalped away from my core trades. On Thursday morning when commodity crosses ripped higher I exited 4/5 trades with nice profits.\r\n\r\nNow, I just have 3 LIVE trades left all are hedged. My maximum loss would be 325 pips, which is well within my RISK MANAGEMENT and RISK TOLERANCE guidelines.\r\n\r\n(Further details on HEDGING, RISK TOLERANCE and RISK MANAGEMENT can be found inside the PREMIUM SERVICE under TRADING ESSENTIALS)\r\n\r\nHowever, after all that drama, at the end of the week, I had nice trading profits. During the week from single lot trades more than 600 pips were generated, which is in line with my objectives. Obviously, those who trade multi-lot would have generated a further extra income over and above the amounts quoted. I hope that my PREMIUM SERVICE subscribers benefited greatly from these set-ups as well.\r\n\r\n<span style=\"text-decoration: underline;\">2.3 MONTHLY AND YEAR TO DATE TRADING SUMMARIES<strong>:</strong></span>\r\n\r\nBelow I show the up to date performances for my various trading styles. Full excel spreadsheets are in the subscriber area of the PREMIUM SERVICE website.\r\n\r\nBelow are the excel spreadsheets covering this month so far and the year 2014 to date.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/10/PREM-SERV-PROFITS1-18102014.png\"><img class=\"aligncenter size-full wp-image-4579\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/10/PREM-SERV-PROFITS1-18102014.png\" alt=\"PREM SERV PROFITS1 18102014\" width=\"448\" height=\"421\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/10/PREM-SERV-PROFITS-2-18102014.png\"><img class=\"aligncenter size-full wp-image-4580\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/10/PREM-SERV-PROFITS-2-18102014.png\" alt=\"PREM SERV PROFITS 2 18102014\" width=\"458\" height=\"417\" /></a>\r\n\r\n<span style=\"text-decoration: underline;\">PLEASE NOTE:</span>\r\n\r\nThe above examples in sections 2.2 and 2.3 are for illustration purposes only. The profitability examples detailed above are based solely upon single lot trading, regardless of lot type. If multiple lot sizes are traded the profitability margins will be different than those shown.\r\n\r\nJust to provide more information so you understand where I am coming from with the risk / reward statements above. All of my trades are of different sizes and different size lot types. The above does not reflect the actual trading performance, but it does show you the direction of the performance of the trades placed. I like to add to trades, profits are taken as the trade progresses and my overall cost average moves several times. All of my trades are of different lot styles. I trade a mixture of micro lots, mini lots and standard lots across my brokers.\r\n\r\nThe above results simply display your profit or loss if you placed a single lot trade on all the set-ups suggested and did nothing else.\r\n\r\nYou must always remember to follow properly executed RISK MANAGEMENT and POSITION SIZING disciplines with all your trades and remember that Forex trading with a high degree of leverage can significantly increase your profits and losses. You should trade with a TRADE PLAN and NOT risk monies that you cannot afford to lose.\r\n\r\n<strong> </strong>\r\n<ol start=\"3\">\r\n	<li><span style=\"font-size: 14pt;\"><strong> THE VIEW FROM MY TRADING DESK:</strong></span></li>\r\n</ol>\r\nI am NOT going to talk about dominoes this week, or refer to my previous blogs about dominoes.\r\n\r\n<em>\r\n</em>\r\n<p style=\"text-align: center;\"><span style=\"font-size: 12pt;\"><strong>WHATS’S NEXT… DRAGHI’S RESIGNATION?</strong></span><strong> </strong></p>\r\nThe title if nothing else will attract a few more readers.\r\n\r\nSince I started writing blogs three years ago, I have been a constant skeptic about the EUROZONE, not the trading community, I think that is an excellent idea in many areas, laughable in others.\r\n\r\nMy skepticism emanates from the single currency.\r\n\r\nI have written so many times that 18 counties or so using the same chequebook just will not work. One central bank (the ECB) trying to do what’s best for 18 countries all with different issues / problems is just impossible. It is further exacerbated by the fact that there is one super almighty economic powerhouse within the single currency (Germany) that has power, money and greater financial stability than most of the other member countries.\r\n\r\nWhen, the world suffered through the financial crash of 2008, the FED, BOE and BOJ sought Quantitative Easing (QE) as the route to support their equity markets. The ECB through a German order used austerity. Lets make the people pay more taxes, reduce services… make the bastards suffer.\r\n\r\nWell that didn’t work…\r\n\r\nEight years later the FED and BOE are looking at raising rates, probably the FED sooner than the BOE (proximity issues to Europe, could affect the BOE more than we think).\r\n\r\nWhere is the EUROZONE now…six years later?\r\n\r\nMore fecked up than ever before…\r\n\r\nEven Germany is now releasing poor economic data. The periphery countries, ITALY, SPAIN, GREECE, PORTUGAL, IRELAND and CYPRUS are still struggling after bailouts to get their economies motoring. Economic growth is one of the major issues, no growth, DEFLATION… or as the ECB says DIS-INFLATION… call a spade a spade - it is what it is DEFLATION\r\n\r\nNow at this point, I could lay down a plethora of economic data from the EUROZONE countries, but I am going to be selective but wide ranging at the same time in the chart below.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/10/EZ-ECON-DATA-18102014.png\"><img class=\"aligncenter size-full wp-image-4586\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/10/EZ-ECON-DATA-18102014.png\" alt=\"EZ ECON DATA 18102014\" width=\"719\" height=\"493\" /></a>\r\n\r\nStatistics such as those above can be manipulated in numerous different ways and as Forex traders reading and interpreting economic data on a daily basis as well as observing politicians in action, I need say no more on this topic.\r\n\r\nHowever, six years on and with people suffering through Austerity measures, I ask the question how far has the EUROZONE progressed.\r\n\r\nHere are my highlights: -\r\n<ol>\r\n	<li>Unemployment stubbornly high in Spain and Greece.</li>\r\n	<li>Debt to GDP – Italy, Ireland, Portugal, Greece and Cyprus way too high.</li>\r\n	<li>Retail Sales – very patchy</li>\r\n	<li>Consumer Confidence numbers are in the main below 100.</li>\r\n	<li>PMi statistics are patchy. By now the averages should be well above contracting levels of sub 50. Germany now below 50. This has all the signs of RECESSION on the cards in the near future.</li>\r\n	<li>GDP – there is zero inflation in theEUROZONE. The targethas been revised down and down again and even now the area average is 0.70% against the latest lowball revision of 1.2%. This equals DEFLATION.Plus,</li>\r\n	<li>The high exchange rate of the EUR against it’s key trading partners the USA and Japan in particular. This is making exports very expensive and uncompetitive.</li>\r\n</ol>\r\nThe world in generally on a slowdown (its not just the EUROZONE), consumer confidence worldwide is low…. consumers are generally not spending (USA, UK and Japan following Sales Tax hike)… if no one buys why produce finished goods… if you are now producing finished goods … why buy raw materials? Hence the Manufacturing PMi issues in Germany.\r\n\r\nSix years on and the ECB and the politicians should be patting themselves on the back for a job well done in the EUROZONE. Instead it is mainly a shambles.\r\n\r\nThe Financial sector was stabilized in the initial period after the 2008 crash, but, six years on there are still EUROZONE bank stress tests being undertaken… give me a break shouldn\'t this have been resolved on first, second or maybe the third attempt of stress tests.\r\n\r\nThis sums up the EUROZONE, wishy-washy and totally 100% useless at completing anything effectively.\r\n\r\nDraghi is guilty of a lot of things and frankly, for six years he has been talking, talking and talking but has been very low on actual action. Apart from interest rates no extraordinary measures or unconventional measures have really been used to arrest the decline of the EUROZONE and tackle growth, unemployment or confidence.\r\n\r\nThe EUROZONE is now bordering on RECESSION never mind struggling with DEFLATION.\r\n\r\nThis does NOT look good for the population living under the EUROZONE flag.\r\n\r\nIf there were no EUROZONE, could each individual country have tackled the problems better on their own rather than being under the constraints of a centralized policy governed allegedly by a central bank to represent all…. the ECB, which is basically, in my opinion, a sub-branch of the Bundesbank?\r\n\r\nPersonally, I think on their own most countries after the crash would have protected their financial systems and then revised their currency valuations probably against the USD to move forward. This is where the periphery countries in particular have suffered most. They have not been able to tackle issues head on, fix and move on, instead they are under a very tight fiscal regime, because that is how Germany operates.\r\n\r\nWhat next?\r\n\r\nUltimately, I think that the FED will rescue the EUROZONE through a strengthening USD. However, this is not the point, a strong, direct and unambiguous Central Bank is paramount to give the people and the financial markets in the area or country it represents confidence. If a poll were undertaken today in the EUROZONE about the effectiveness of the ECB I would love to see the results.\r\n\r\nOne size does NOT fit all in this instance and a huge amount of financial pain and stress has been thrown at people for what? Six years of a non-event, back to square one.\r\n\r\nWe live in a results orientated society wanting instant gratification.\r\n\r\nThe master plan for the EUROZONE was hatched years ago over a glass of Chateauneuf du Pape, a bottle of Cognac and fine cigars. It was NOT thought properly through to cope with a mix of diverse multi cultures, with completely different ways of coping with and addressing core problems that face individual countries. Never mind what would happen if… scenarios put in place. This is hardly surprising when you look at the achievements of the EUROZONE.\r\n<p style=\"text-align: center;\"><strong>The effectiveness of the currency union is questionable in fact I think a failure.</strong></p>\r\n<p style=\"text-align: center;\"><strong>There is NO coordinated foreign policy in the EUROZONE.</strong></p>\r\n<p style=\"text-align: center;\"><strong>There is NO coordinated present or future energy plan in the EUROZONE.</strong></p>\r\n<p style=\"text-align: center;\"><strong>There is NO tax harmonization plan in the EUROZONE.</strong></p>\r\n<p style=\"text-align: center;\"><strong>There is NO “how to tackle” EUROZONE unemployment plan in the EUROZONE.</strong></p>\r\n<p style=\"text-align: center;\"><strong>There is NO universal social chapter, minimum wage, weekly working hours, retirement age agreement in the EUROZONE.</strong><strong> </strong></p>\r\nI am not saying that Draghi is single handedly responsible for the above, but he is a vital cog in the EUROZONE machine.\r\n\r\nIn my opinion, Draghi has failed in his areas of responsibility. I know people will say he has calmed the banking sector. But the banks do not lend. It\'s a failure. It is so much a failure he had to introduce negative deposit rates in a last ditch attempt to try and force the banks to lend again and to try and get some growth into ailing economies.\r\n\r\nHis tenure is a failure based on his inability to use his powers effectively or to persuade or demand powers to enable the ECB and himself to manage effectively. Either way; I think its time for him to say goodbye and move on, if he were a manager of a Barclays Premiership Football Team he would have been long gone by now.\r\n\r\nComing up he has another opportunity at the next press conference to deliver once and for all what the markets are demanding.\r\n\r\nA fully explained package of measures including:\r\n\r\nQuantitative Easing (QE) that will drag the EUROZONE away from recession. He needs something dramatic like QE to reduce the EUR exchange rate to reduce export costs and in so doing this will make EUROZONE exports of finished goods and services cheaper to sell in the open market. This will provide employment, which will reduce the social burden and add more money to a countries tax income. If the increased tax income is used for larger scale infrastructure this will further reduce unemployment and increase the tax income and once again reduce the social burden.\r\n\r\nIf he talks at the next ECB Press Conference and once again “kicks the can down the road” and delivers no comprehensive action, then I think that he should step down.\r\n\r\nThis would be the first step in the break –up of the single currency union. The ECB has been shown up with all it’s shortcomings for the world to see.\r\n\r\nThe EUROZONE needs change and it needs a new fresh mandate for the ECB to allow it to function, it’s not just about Germany. Draghi has not fought the fight to do this.\r\n\r\nIn my opinion it\'s a long overdue time for him to move on and if at the next ECB Press Conference he does NOT deliver this would be the time to step aside.\r\n\r\n&nbsp;\r\n<ol start=\"4\">\r\n	<li><span style=\"font-size: 14pt;\"><strong> LOOKING FORWARD…THE KEY SUPPORT &amp; RESISTANCE LEVELS WITH THE USD MAJORS:</strong></span></li>\r\n</ol>\r\n<strong>EUR/USD: Closing Price 1.2757.</strong> After a very eventful week, the EUR/USD ends the week not too far for where it started. Moving forward, I am uncertain as to how sentiment will play out early next week. Basically nothing has changed. The ECB and FED are on divergent monetary policies and as such the EUR should weaken moving forward. We may see some consolidation at present levels for a while and be somewhat range bound. The support level that interests me is 1.2650 and the resistance level at 1.2885.\r\n\r\n<strong>GBP/USD: Closing Price 1.6088</strong>. Like the EUR/USD; after a very eventful week literally no change in the closing weekly price. Am I bullish or am I bearish this pair? I am for once not sure. If push came to a shove I would have to say bearish. My reasons would be to look where it is following the Scottish referendum and following Carney’s Mansion House speech. It is a bit of wait and see for me with this pair, but there lies good support at 1.6020 and 1.6125 has nice resistance, in fact above 1.6130 and I think that there is a chance of a squeeze.<strong> </strong>\r\n\r\n<strong>AUD/USD: Closing Price 0.8748</strong>. Probably not to Glenn Stevens liking, but the AUD/USD will finish the week about 100 pips higher than last week. As long as we consolidate in equities after the turmoil the Aussie will stay inflated in my opinion. Support is at 0.8690 and resistance will be strong at 0.8825.\r\n\r\n<strong>NZD/USD: Closing Price 0.7913</strong>. Just like the Aussie about a 100 pips higher closing this week in comparison to last week. I am still bearish this pair, but I do find it very frustrating to trade at times. It is quite illiquid in comparison to other USD pairs and in the past it was quite directional. Now at times it’s a pain in the a**. Support for the coming sessions should be good at -.7850 and resistance should be strong at 0.8000.\r\n\r\n<strong>USD/CAD: Closing Price 1.1276.</strong> I am long the damn “loonie” again…why do I inflict this pain upon myself? In the immediate future we have a BOC rate decision, press conference and Interest Rate statement to contend with this Wednesday, never mind the price of a barrel of WTi. Support is at 1.1170 and resistance is at 1.1375.\r\n\r\n<strong>USD/CHF: Closing Price 0.9462</strong>. I couldn’t be bothered about this pair for a while, I wrote down 0.9400 on a post-it note to remind me to get long at this level. I should have placed a limit order with the brokers but I did not. It bounced nicely off 0.9400 about three times; I had three opportunities and took none of them. This pair is now destined to rocket to parity. Just in case it pulls back, will someone remind me to enter long at the support level of 0.9400? Resistance will be good at 0.9540.\r\n\r\n<strong>USD/JPY: Closing Price 106.87. </strong>I traded the EUR/JPY during the week twice and made $$$ twice. Those were my first JPY trades for quite sometime. Looking at the USD/JPY we have bounced very nicely off 105.00, back though 105.50 and beyond. Looking ahead I see support at 105.60 and resistance at 107.50.\r\n\r\n<strong> </strong>\r\n<ol start=\"5\">\r\n	<li><span style=\"font-size: 14pt;\"><strong> MAJOR FOREX NEWS THIS WEEK THAT INTERESTS ME:</strong></span></li>\r\n</ol>\r\nSUNDAY: N/A.\r\n\r\nMONDAY: AUD – Monetary Policy Meeting Minutes.\r\nMONDAY: CNY – GDP and Industrial Production.\r\n\r\nTUESDAY: AUD - CPi.\r\n\r\nWEDNESDAY: CAD – Core Retail Sales, BOC Rate Decision, Press Conference\r\nWEDNESDAY: AUD – Glenn Stevens speaks.\r\nWEDNESDAY: NZD – CPi.\r\nWEDNESDAY: CNY – HSBC Flash Manufacturing PMi.\r\n\r\nTHURSDAY: EUR – French &amp; German Flash Manufacturing PMi.\r\nTHURSDAY: GBP – Retail Sales.\r\nTHURSDAY: NZD – Trade Balance.\r\n\r\nFRIDAY: N/A.\r\n\r\n<strong> </strong><strong> </strong>\r\n<ol start=\"6\">\r\n	<li><span style=\"font-size: 14pt;\"><strong> FINAL THOUGHTS:</strong></span></li>\r\n</ol>\r\nSome very interesting news items coming this week so we will have to be on our guard. Overriding this, I am much more interested in the fall out after last weeks turmoil and volatility.\r\n\r\nMy gut feeling tells me consolidation for a while, but geopolitical news could over shadow this thought that I have.\r\n\r\nIs the market still directional\r\n\r\nIt should be but ahead of this directional trading resuming, in my opinion, we should see consolidation.\r\n\r\nFrom a trading perspective we should therefore, given the uncertainty and volatility, trade with smaller position sizes and wider stops.\r\n\r\nJust remember; always use the RISK MANAGEMENT principles outlined in the PREMIUM SERVICE web site TRADING ESSENTIALS section to ensure that you do not over-stretch your Forex account. Longevity in the Forex market is only achieved through strong TRADING DISCIPLINES that include effective and strategic POSITION SIZING.\r\n\r\nGood Luck.\r\n\r\nScott Pickering\r\nThe Pip Accumulator\r\nSaturday October 18th 2014\r\n\r\nEMAIL / FOLLOW ME AT:\r\ndrivethru@weeklyfxdrivethru.com\r\nTwitter: @pipaccumulator\r\nGoogle+/scottpickering<strong> </strong>\r\n\r\n<strong>DISCLAIMER:</strong>\r\n\r\nFLASH, 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.','WHAT’S NEXT… DRAGHI’S RESIGNATION?','','inherit','open','closed','','4597-revision-v1','','','2014-10-18 15:08:03','2014-10-18 20:08:03','',4597,'https://weeklyfxdrivethru.com/4597-revision-v1/',0,'revision','',0),(4602,1,'2014-10-20 07:37:43','2014-10-20 12:37:43','<strong><span style=\"font-size: 14pt;\">THE DAILY FX POST</span>\r\n<span style=\"font-size: 14pt;\"> from</span>\r\n<span style=\"font-size: 14pt;\"> THE PREMIUM SERVICE</span>\r\n\r\n</strong>\r\n\r\n<strong>DATE: Monday 20<sup>th</sup> October 2014\r\nREF: #110</strong>\r\n\r\n&nbsp;\r\n<ol>\r\n	<li><span style=\"font-size: 12pt;\"><strong> OVERVIEW – INITIAL THOUGHTS:</strong></span></li>\r\n</ol>\r\nGood morning…. We enter another week with more trading opportunities. Let’s hope it’s directional and the market behaves itself.\r\n\r\nWhen I finished writing my rant about Draghi for the “DRIVE THRU” blog over the weekend and got everything posted and updated. I then did about 30-45 minutes worth of analysis on the movements of various currency pairs over the past week or so. The markets are really well and truly range bound following the dramatic moves of the past three/four weeks. There is a lot of “huff ‘n puff “ in the sentiment, the talk, but at the end of the day we are range bound.\r\n\r\nTherefore, we are in scalping mode just for a little while.\r\n\r\nI include in this blog a chart of the USD index (DXY). As long-term subscribers are aware, my routine in the morning when I log on no matter what the time is check out the “Holy Trinity” (GOLD, OIL &amp; COPPER) and then look at the DXY followed by the AUD/USD and USD/CAD. These are my lead indicators.\r\n\r\nLooking at the DXY below, we are “flagging”. Whichever way you look at the Daily chart we are flagging. In my opinion, we should re-test the trend line support around 84.00 and then bounce towards my longer-term written about many times goal of 92.00. This places the EUR/USD around 1.2000 or below around 1.1860.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/10/DXY-20102014.png\"><img class=\"aligncenter size-large wp-image-4601\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/10/DXY-20102014-1024x544.png\" alt=\"DXY - 20102014\" width=\"1024\" height=\"544\" /></a>\r\n\r\n&nbsp;\r\n\r\nI have three LIVE trades that are currently negative and hedged, but if my future thoughts are correct these trades should come good. They are hedged so my RISKS are limited. In addition, there are two RADAR trades with brokers (see below), they are entries at the tops of ranges with fairly tight stops. Hopefully these entries will coincide with the DXY support. If they do there would be great entry levels in my opinion. I may tweak the AUD/USD and NZD/USD short entries later via twitter.\r\n\r\nObviously, if my thoughts play out, I will be looking at the commodity cross-rate pairs (EUR/AUD, GBP/AUD, EUR/NZD, EUR/CAD and GBP/CAD). I am already long GBP/NZD.\r\n\r\nI entered the EUR/USD short a little earlier at 1.2775. I am now looking to take 20-30 pips profit, close it and wait for the DXY move to happen. That is of course, unless it drops like a lead balloon. Should that happen, we should probably bounce around for a few days before finally testing 84.00 (DXY).\r\n\r\nThere is my plan and my thoughts for the market.\r\n\r\n<strong> </strong>\r\n<ol start=\"2\">\r\n	<li><span style=\"font-size: 12pt;\"><strong> KEY NEWS EVENTS NEXT 24 hours (BASED UPON (NYC) EDT TIME:</strong></span></li>\r\n</ol>\r\nCAD: - Wholesale Sales.\r\n\r\nAUD: - Monetary Policy Minutes.\r\nCNY: - GDP and Industrial Production.\r\n\r\nGBP: - MPC Asset Purchase Facility and Interest Rate Votes\r\n\r\n<strong> </strong>\r\n<ol start=\"3\">\r\n	<li><span style=\"font-size: 12pt;\"><strong> EXISTING LIVE TRADES:</strong></span></li>\r\n</ol>\r\n<strong>RADAR TRADES:</strong>\r\n\r\nThere are no LIVE radar trades at the moment.\r\n\r\n<strong>FLASH TRADES:</strong>\r\n\r\nFT190\r\nNZD/USD\r\nShort at 0.7793\r\nStop at 0.8050\r\nLimit at 0.6580\r\nPrice Now: 0.7949\r\nCurrent Profit / Loss Position: -156 pips\r\n(This pair is hedged from -100 pips)\r\n\r\nFT202\r\nUSD/CAD\r\nLong at 1.1340\r\nStop at 1.1170\r\nLimit at 1.1570\r\nPrice Now: 1.1266\r\nCurrent Profit / Loss Position: -74 pips\r\n(This pair is hedged from -70 pips)\r\n\r\nFT203\r\nEUR/USD\r\nShort from 1.2775\r\nStop at 1.2860 (PLEASE NOTE NEW LEVEL)\r\nLimit at 1.1860 (PLEASE NOTE NEW LEVEL)\r\nPrice Now: 1.2766\r\nCurrent Profit / Loss Position: +9 pips\r\n\r\n<strong>FUNDAMENTAL TRADES:</strong>\r\n\r\nFUN44\r\nGBP/NZD\r\nLong at 2.0507\r\nStop at 1.9800\r\nLimit at 2.3200\r\nPrice Now: 2.0279\r\nCurrent Profit / Loss Position: -228 pips\r\n(This trade is hedged from -125 pips\r\n\r\n<strong> </strong>\r\n<ol start=\"4\">\r\n	<li><span style=\"font-size: 12pt;\"><strong> LIMIT &amp; STOP ORDERS WITH BROKERS:</strong></span></li>\r\n</ol>\r\nRT192\r\nAUD/USD\r\nShort\r\nShort Entry at: 0.8820\r\nStop at: 0.8870\r\nLimit: 0.8650\r\n\r\nRT193\r\nNZD/USD\r\nShort\r\nShort Entry at: 0.7990\r\nStop at 0.8030\r\nLimit at: 0.7800<strong> </strong>\r\n\r\n&nbsp;\r\n\r\nGood luck today and have a great weekend.\r\n\r\nScott Pickering\r\nThe Pip Accumulator\r\n<a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a>\r\nTwitter: @ThePremService\r\nEmail: premiumserice@weeklyfxdrivethru.com\r\n\r\n<strong>DISCLAIMER:</strong>\r\n\r\nFLASH, 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.\r\n\r\n&nbsp;','#110 - THE DAILY FX POST, Monday 20th October 2014','','publish','open','closed','','110-daily-fx-post-monday-20th-october-2014','','','2014-10-20 07:37:43','2014-10-20 12:37:43','',0,'https://weeklyfxdrivethru.com/?post_type=member_posts&#038;p=4602',0,'member_posts','',0),(4603,1,'2014-10-20 07:37:43','2014-10-20 12:37:43','<strong><span style=\"font-size: 14pt;\">THE DAILY FX POST</span>\r\n<span style=\"font-size: 14pt;\"> from</span>\r\n<span style=\"font-size: 14pt;\"> THE PREMIUM SERVICE</span>\r\n\r\n</strong>\r\n\r\n<strong>DATE: Monday 20<sup>th</sup> October 2014\r\nREF: #110</strong>\r\n\r\n&nbsp;\r\n<ol>\r\n	<li><span style=\"font-size: 12pt;\"><strong> OVERVIEW – INITIAL THOUGHTS:</strong></span></li>\r\n</ol>\r\nGood morning…. We enter another week with more trading opportunities. Let’s hope it’s directional and the market behaves itself.\r\n\r\nWhen I finished writing my rant about Draghi for the “DRIVE THRU” blog over the weekend and got everything posted and updated. I then did about 30-45 minutes worth of analysis on the movements of various currency pairs over the past week or so. The markets are really well and truly range bound following the dramatic moves of the past three/four weeks. There is a lot of “huff ‘n puff “ in the sentiment, the talk, but at the end of the day we are range bound.\r\n\r\nTherefore, we are in scalping mode just for a little while.\r\n\r\nI include in this blog a chart of the USD index (DXY). As long-term subscribers are aware, my routine in the morning when I log on no matter what the time is check out the “Holy Trinity” (GOLD, OIL &amp; COPPER) and then look at the DXY followed by the AUD/USD and USD/CAD. These are my lead indicators.\r\n\r\nLooking at the DXY below, we are “flagging”. Whichever way you look at the Daily chart we are flagging. In my opinion, we should re-test the trend line support around 84.00 and then bounce towards my longer-term written about many times goal of 92.00. This places the EUR/USD around 1.2000 or below around 1.1860.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/10/DXY-20102014.png\"><img class=\"aligncenter size-large wp-image-4601\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/10/DXY-20102014-1024x544.png\" alt=\"DXY - 20102014\" width=\"1024\" height=\"544\" /></a>\r\n\r\n&nbsp;\r\n\r\nI have three LIVE trades that are currently negative and hedged, but if my future thoughts are correct these trades should come good. They are hedged so my RISKS are limited. In addition, there are two RADAR trades with brokers (see below), they are entries at the tops of ranges with fairly tight stops. Hopefully these entries will coincide with the DXY support. If they do there would be great entry levels in my opinion. I may tweak the AUD/USD and NZD/USD short entries later via twitter.\r\n\r\nObviously, if my thoughts play out, I will be looking at the commodity cross-rate pairs (EUR/AUD, GBP/AUD, EUR/NZD, EUR/CAD and GBP/CAD). I am already long GBP/NZD.\r\n\r\nI entered the EUR/USD short a little earlier at 1.2775. I am now looking to take 20-30 pips profit, close it and wait for the DXY move to happen. That is of course, unless it drops like a lead balloon. Should that happen, we should probably bounce around for a few days before finally testing 84.00 (DXY).\r\n\r\nThere is my plan and my thoughts for the market.\r\n\r\n<strong> </strong>\r\n<ol start=\"2\">\r\n	<li><span style=\"font-size: 12pt;\"><strong> KEY NEWS EVENTS NEXT 24 hours (BASED UPON (NYC) EDT TIME:</strong></span></li>\r\n</ol>\r\nCAD: - Wholesale Sales.\r\n\r\nAUD: - Monetary Policy Minutes.\r\nCNY: - GDP and Industrial Production.\r\n\r\nGBP: - MPC Asset Purchase Facility and Interest Rate Votes\r\n\r\n<strong> </strong>\r\n<ol start=\"3\">\r\n	<li><span style=\"font-size: 12pt;\"><strong> EXISTING LIVE TRADES:</strong></span></li>\r\n</ol>\r\n<strong>RADAR TRADES:</strong>\r\n\r\nThere are no LIVE radar trades at the moment.\r\n\r\n<strong>FLASH TRADES:</strong>\r\n\r\nFT190\r\nNZD/USD\r\nShort at 0.7793\r\nStop at 0.8050\r\nLimit at 0.6580\r\nPrice Now: 0.7949\r\nCurrent Profit / Loss Position: -156 pips\r\n(This pair is hedged from -100 pips)\r\n\r\nFT202\r\nUSD/CAD\r\nLong at 1.1340\r\nStop at 1.1170\r\nLimit at 1.1570\r\nPrice Now: 1.1266\r\nCurrent Profit / Loss Position: -74 pips\r\n(This pair is hedged from -70 pips)\r\n\r\nFT203\r\nEUR/USD\r\nShort from 1.2775\r\nStop at 1.2860 (PLEASE NOTE NEW LEVEL)\r\nLimit at 1.1860 (PLEASE NOTE NEW LEVEL)\r\nPrice Now: 1.2766\r\nCurrent Profit / Loss Position: +9 pips\r\n\r\n<strong>FUNDAMENTAL TRADES:</strong>\r\n\r\nFUN44\r\nGBP/NZD\r\nLong at 2.0507\r\nStop at 1.9800\r\nLimit at 2.3200\r\nPrice Now: 2.0279\r\nCurrent Profit / Loss Position: -228 pips\r\n(This trade is hedged from -125 pips\r\n\r\n<strong> </strong>\r\n<ol start=\"4\">\r\n	<li><span style=\"font-size: 12pt;\"><strong> LIMIT &amp; STOP ORDERS WITH BROKERS:</strong></span></li>\r\n</ol>\r\nRT192\r\nAUD/USD\r\nShort\r\nShort Entry at: 0.8820\r\nStop at: 0.8870\r\nLimit: 0.8650\r\n\r\nRT193\r\nNZD/USD\r\nShort\r\nShort Entry at: 0.7990\r\nStop at 0.8030\r\nLimit at: 0.7800<strong> </strong>\r\n\r\n&nbsp;\r\n\r\nGood luck today and have a great weekend.\r\n\r\nScott Pickering\r\nThe Pip Accumulator\r\n<a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a>\r\nTwitter: @ThePremService\r\nEmail: premiumserice@weeklyfxdrivethru.com\r\n\r\n<strong>DISCLAIMER:</strong>\r\n\r\nFLASH, 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.\r\n\r\n&nbsp;','#110 - THE DAILY FX POST, Monday 20th October 2014','','inherit','open','closed','','4602-revision-v1','','','2014-10-20 07:37:43','2014-10-20 12:37:43','',4602,'https://weeklyfxdrivethru.com/4602-revision-v1/',0,'revision','',0),(4604,1,'2014-10-21 07:24:35','2014-10-21 12:24:35','<strong><span style=\"font-size: 14pt;\">THE DAILY FX POST</span>\r\n<span style=\"font-size: 14pt;\"> from</span>\r\n<span style=\"font-size: 14pt;\"> THE PREMIUM SERVICE</span></strong>\r\n\r\n&nbsp;\r\n\r\n<strong>DATE: Tuesday 21st October 2014\r\nREF: #111</strong>\r\n\r\n&nbsp;\r\n<ol>\r\n	<li><span style=\"font-size: 12pt;\"><strong> OVERVIEW – INITIAL THOUGHTS:</strong></span></li>\r\n</ol>\r\nWelcome to new subscribers (You should read yesterday’s DAILY FX POST it contains my “PLAN A” on how I am approaching the market over the coming sessions).\r\n\r\nLast night the CNY data (Believe it / mistrust it… whatever), beat expectations. Yesterday, I had moved limit orders entries higher on AUD/USD and NZD/USD short trades higher to fall in line with my DXY re-test of trend line (PLAN A) trading plan. Had I not moved these entries both trades would have triggered.\r\n\r\nMy thoughts at the moment are that with the CNY beat; I had expected the AUD/USD to be challenging my revised short entry level of 0.8880. It only reached 0.8830…this at the moment is making me think that PLAN B chasing the USD may become the trading option.\r\n\r\nThe DXY has not yet pulled back to test the trend line at 84.00, we are currently at 85.20. At 85.50 we are breaking out once again in the USD.\r\n\r\nLast night, as I tweeted yesterday on @pipaccumulator I was waiting for the ECB leak machine to gain traction. We have had leak, denial, leak and denial… as the EUROZONE way and as a result the EUR/USD is pushing lower at the moment. Does this mean we will not see a trend line re-test in the DXY at 84.00… possibly? In which case, the USD could become a buy on the dip trade. There is no major news today in the North American session so equities will lead the way today on whether we are RISK ON or RISK OFF.\r\n\r\nScalping mode continues today as a result. The DXY and EUR are on separate screens to keep an eye on their movements. The reason I say scalping trades (FLASH) are in play, is quite simply because we are still range bound. We will break eventually once again, but after the large recent moves we are now playing ranges.\r\n\r\nThere are key levels to mark breakouts:\r\n\r\nEUR/USD below 1.2720\r\nUSD/CAD above 1.1280\r\nNZD/USD below 0.7950\r\nUSD/CHF above 0.9480 (by the way annoyed that it did not pick this one up at 0.9400 last night. I was half asleep when I checked brokers…)\r\n\r\nThe commodity currencies have NOT rallied as they should have and if sentiment changes the commodity currencies and commodity cross-rates currencies will be back in focus once again, a little earlier than I thought.\r\n\r\nI will be on twitter with updates on these thoughts as required.\r\n\r\n<strong> </strong>\r\n<ol start=\"2\">\r\n	<li><span style=\"font-size: 12pt;\"><strong> KEY NEWS EVENTS NEXT 24 hours (BASED UPON (NYC) EDT TIME:</strong></span>AUD: - CPi\r\n\r\nGBP: - MPC Summary of the Asset Purchase Facility and Bank Rates Votes.\r\n\r\nCAD: - Core Retail Sales\r\nUSD: - Core CPi.</li>\r\n</ol>\r\n<strong> </strong><strong> </strong>\r\n<ol start=\"3\">\r\n	<li><span style=\"font-size: 12pt;\"><strong> EXISTING LIVE TRADES:</strong></span></li>\r\n</ol>\r\n&nbsp;\r\n\r\n<strong>RADAR TRADES:</strong>\r\n\r\nThere are no LIVE radar trades at the moment.\r\n\r\n&nbsp;\r\n\r\n<strong>FLASH TRADES:</strong>\r\n\r\nFT190\r\nNZD/USD\r\nShort at 0.7793\r\nStop at 0.8050\r\nLimit at 0.6580\r\nPrice Now: 0.7993\r\nCurrent Profit / Loss Position: -200 pips\r\n(This pair is hedged from -100 pips)<strong> </strong>\r\n\r\nFT202\r\nUSD/CAD\r\nLong at 1.1340\r\nStop at 1.1170\r\nLimit at 1.1570\r\nPrice Now: 1.1250\r\nCurrent Profit / Loss Position: -90 pips\r\n(This pair is hedged from -70 pips)\r\n\r\n<strong>\r\nFUNDAMENTAL TRADES:</strong>\r\n\r\nFUN44\r\nGBP/NZD\r\nLong at 2.0507\r\nStop at 1.9800\r\nLimit at 2.3200\r\nPrice Now: 2.0217\r\nCurrent Profit / Loss Position: -290 pips\r\n(This trade is hedged from -125 pips\r\n\r\n<strong> </strong><strong> </strong>\r\n<ol start=\"4\">\r\n	<li><span style=\"font-size: 12pt;\"><strong> LIMIT &amp; STOP ORDERS WITH BROKERS:</strong></span></li>\r\n</ol>\r\nRT192\r\nAUD/USD\r\nShort\r\nShort Entry at: 0.8870\r\nStop at: 0.8950\r\nLimit: 0.8000\r\n\r\nRT193\r\nNZD/USD\r\nShort\r\nShort Entry at: 0.8050\r\nStop at 0.8125\r\nLimit at: 0.6500\r\n\r\nGood luck today and have a great weekend.\r\n\r\nScott Pickering\r\nThe Pip Accumulator\r\n<a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a>\r\nTwitter: @ThePremService\r\nEmail: premiumserice@weeklyfxdrivethru.com\r\n\r\n<strong>DISCLAIMER:</strong>\r\n\r\nFLASH, 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.','#111- THE DAILY FX POST, Tuesday 21st October 2014','','publish','open','closed','','111-daily-fx-post-tuesday-21st-october-2014','','','2014-10-21 07:24:35','2014-10-21 12:24:35','',0,'https://weeklyfxdrivethru.com/?post_type=member_posts&#038;p=4604',0,'member_posts','',0),(4605,1,'2014-10-21 07:24:21','2014-10-21 12:24:21','<strong><span style=\"font-size: 14pt;\">THE DAILY FX POST</span>\r\n<span style=\"font-size: 14pt;\"> from</span>\r\n<span style=\"font-size: 14pt;\"> THE PREMIUM SERVICE</span>\r\n\r\n</strong>\r\n\r\n<strong>DATE: Tuesday 21st October 2014\r\nREF: #111</strong>\r\n\r\n&nbsp;\r\n<ol>\r\n	<li><span style=\"font-size: 12pt;\"><strong> OVERVIEW – INITIAL THOUGHTS:</strong></span></li>\r\n</ol>\r\nWelcome to new subscribers (You should read yesterday’s DAILY FX POST it contains my “PLAN A” on how I am approaching the market over the coming sessions).\r\n\r\nLast night the CNY data (Believe it / mistrust it… whatever), beat expectations. Yesterday, I had moved limit orders entries higher on AUD/USD and NZD/USD short trades higher to fall in line with my DXY re-test of trend line (PLAN A) trading plan. Had I not moved these entries both trades would have triggered.\r\n\r\nMy thoughts at the moment are that with the CNY beat; I had expected the AUD/USD to be challenging my revised short entry level of 0.8880. It only reached 0.8830…this at the moment is making me think that PLAN B chasing the USD may become the trading option.\r\n\r\nThe DXY has not yet pulled back to test the trend line at 84.00, we are currently at 85.20. At 85.50 we are breaking out once again in the USD.\r\n\r\nLast night, as I tweeted yesterday on @pipaccumulator I was waiting for the ECB leak machine to gain traction. We have had leak, denial, leak and denial… as the EUROZONE way and as a result the EUR/USD is pushing lower at the moment. Does this mean we will not see a trend line re-test in the DXY at 84.00… possibly? In which case, the USD could become a buy on the dip trade. There is no major news today in the North American session so equities will lead the way today on whether we are RISK ON or RISK OFF.\r\n\r\nScalping mode continues today as a result. The DXY and EUR are on separate screens to keep an eye on their movements. The reason I say scalping trades (FLASH) are in play, is quite simply because we are still range bound. We will break eventually once again, but after the large recent moves we are now playing ranges.\r\n\r\nThere are key levels to mark breakouts:\r\n\r\nEUR/USD below 1.2720\r\nUSD/CAD above 1.1280\r\nNZD/USD below 0.7950\r\nUSD/CHF above 0.9480 (by the way annoyed that it did not pick this one up at 0.9400 last night. I was half asleep when I checked brokers…)\r\n\r\nThe commodity currencies have NOT rallied as they should have and if sentiment changes the commodity currencies and commodity cross-rates currencies will be back in focus once again, a little earlier than I thought.\r\n\r\nI will be on twitter with updates on these thoughts as required.\r\n\r\n<strong> </strong>\r\n<ol start=\"2\">\r\n	<li><span style=\"font-size: 12pt;\"><strong> KEY NEWS EVENTS NEXT 24 hours (BASED UPON (NYC) EDT TIME:</strong></span>\r\n\r\nAUD: - CPi\r\n\r\nGBP: - MPC Summary of the Asset Purchase Facility and Bank Rates Votes.\r\n\r\nCAD: - Core Retail Sales\r\nUSD: - Core CPi.</li>\r\n</ol>\r\n<strong> </strong><strong> </strong>\r\n<ol start=\"3\">\r\n	<li><span style=\"font-size: 12pt;\"><strong> EXISTING LIVE TRADES:</strong></span></li>\r\n</ol>\r\n&nbsp;\r\n\r\n<strong>RADAR TRADES:</strong>\r\n\r\nThere are no LIVE radar trades at the moment.\r\n\r\n&nbsp;\r\n\r\n<strong>FLASH TRADES:</strong>\r\n\r\nFT190\r\nNZD/USD\r\nShort at 0.7793\r\nStop at 0.8050\r\nLimit at 0.6580\r\nPrice Now: 0.7993\r\nCurrent Profit / Loss Position: -200 pips\r\n(This pair is hedged from -100 pips)<strong> </strong>\r\n\r\nFT202\r\nUSD/CAD\r\nLong at 1.1340\r\nStop at 1.1170\r\nLimit at 1.1570\r\nPrice Now: 1.1250\r\nCurrent Profit / Loss Position: -90 pips\r\n(This pair is hedged from -70 pips)\r\n\r\n<strong>\r\nFUNDAMENTAL TRADES:</strong>\r\n\r\nFUN44\r\nGBP/NZD\r\nLong at 2.0507\r\nStop at 1.9800\r\nLimit at 2.3200\r\nPrice Now: 2.0217\r\nCurrent Profit / Loss Position: -290 pips\r\n(This trade is hedged from -125 pips\r\n\r\n<strong> </strong><strong> </strong>\r\n<ol start=\"4\">\r\n	<li><span style=\"font-size: 12pt;\"><strong> LIMIT &amp; STOP ORDERS WITH BROKERS:</strong></span></li>\r\n</ol>\r\nRT192\r\nAUD/USD\r\nShort\r\nShort Entry at: 0.8870\r\nStop at: 0.8950\r\nLimit: 0.8000\r\n\r\nRT193\r\nNZD/USD\r\nShort\r\nShort Entry at: 0.8050\r\nStop at 0.8125\r\nLimit at: 0.6500\r\n\r\nGood luck today and have a great weekend.\r\n\r\nScott Pickering\r\nThe Pip Accumulator\r\n<a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a>\r\nTwitter: @ThePremService\r\nEmail: premiumserice@weeklyfxdrivethru.com\r\n\r\n<strong>DISCLAIMER:</strong>\r\n\r\nFLASH, 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.','#111- THE DAILY FX POST, Tuesday 21st October 2014','','inherit','open','closed','','4604-revision-v1','','','2014-10-21 07:24:21','2014-10-21 12:24:21','',4604,'https://weeklyfxdrivethru.com/4604-revision-v1/',0,'revision','',0),(4606,1,'2014-10-21 07:24:35','2014-10-21 12:24:35','<strong><span style=\"font-size: 14pt;\">THE DAILY FX POST</span>\r\n<span style=\"font-size: 14pt;\"> from</span>\r\n<span style=\"font-size: 14pt;\"> THE PREMIUM SERVICE</span></strong>\r\n\r\n&nbsp;\r\n\r\n<strong>DATE: Tuesday 21st October 2014\r\nREF: #111</strong>\r\n\r\n&nbsp;\r\n<ol>\r\n	<li><span style=\"font-size: 12pt;\"><strong> OVERVIEW – INITIAL THOUGHTS:</strong></span></li>\r\n</ol>\r\nWelcome to new subscribers (You should read yesterday’s DAILY FX POST it contains my “PLAN A” on how I am approaching the market over the coming sessions).\r\n\r\nLast night the CNY data (Believe it / mistrust it… whatever), beat expectations. Yesterday, I had moved limit orders entries higher on AUD/USD and NZD/USD short trades higher to fall in line with my DXY re-test of trend line (PLAN A) trading plan. Had I not moved these entries both trades would have triggered.\r\n\r\nMy thoughts at the moment are that with the CNY beat; I had expected the AUD/USD to be challenging my revised short entry level of 0.8880. It only reached 0.8830…this at the moment is making me think that PLAN B chasing the USD may become the trading option.\r\n\r\nThe DXY has not yet pulled back to test the trend line at 84.00, we are currently at 85.20. At 85.50 we are breaking out once again in the USD.\r\n\r\nLast night, as I tweeted yesterday on @pipaccumulator I was waiting for the ECB leak machine to gain traction. We have had leak, denial, leak and denial… as the EUROZONE way and as a result the EUR/USD is pushing lower at the moment. Does this mean we will not see a trend line re-test in the DXY at 84.00… possibly? In which case, the USD could become a buy on the dip trade. There is no major news today in the North American session so equities will lead the way today on whether we are RISK ON or RISK OFF.\r\n\r\nScalping mode continues today as a result. The DXY and EUR are on separate screens to keep an eye on their movements. The reason I say scalping trades (FLASH) are in play, is quite simply because we are still range bound. We will break eventually once again, but after the large recent moves we are now playing ranges.\r\n\r\nThere are key levels to mark breakouts:\r\n\r\nEUR/USD below 1.2720\r\nUSD/CAD above 1.1280\r\nNZD/USD below 0.7950\r\nUSD/CHF above 0.9480 (by the way annoyed that it did not pick this one up at 0.9400 last night. I was half asleep when I checked brokers…)\r\n\r\nThe commodity currencies have NOT rallied as they should have and if sentiment changes the commodity currencies and commodity cross-rates currencies will be back in focus once again, a little earlier than I thought.\r\n\r\nI will be on twitter with updates on these thoughts as required.\r\n\r\n<strong> </strong>\r\n<ol start=\"2\">\r\n	<li><span style=\"font-size: 12pt;\"><strong> KEY NEWS EVENTS NEXT 24 hours (BASED UPON (NYC) EDT TIME:</strong></span>AUD: - CPi\r\n\r\nGBP: - MPC Summary of the Asset Purchase Facility and Bank Rates Votes.\r\n\r\nCAD: - Core Retail Sales\r\nUSD: - Core CPi.</li>\r\n</ol>\r\n<strong> </strong><strong> </strong>\r\n<ol start=\"3\">\r\n	<li><span style=\"font-size: 12pt;\"><strong> EXISTING LIVE TRADES:</strong></span></li>\r\n</ol>\r\n&nbsp;\r\n\r\n<strong>RADAR TRADES:</strong>\r\n\r\nThere are no LIVE radar trades at the moment.\r\n\r\n&nbsp;\r\n\r\n<strong>FLASH TRADES:</strong>\r\n\r\nFT190\r\nNZD/USD\r\nShort at 0.7793\r\nStop at 0.8050\r\nLimit at 0.6580\r\nPrice Now: 0.7993\r\nCurrent Profit / Loss Position: -200 pips\r\n(This pair is hedged from -100 pips)<strong> </strong>\r\n\r\nFT202\r\nUSD/CAD\r\nLong at 1.1340\r\nStop at 1.1170\r\nLimit at 1.1570\r\nPrice Now: 1.1250\r\nCurrent Profit / Loss Position: -90 pips\r\n(This pair is hedged from -70 pips)\r\n\r\n<strong>\r\nFUNDAMENTAL TRADES:</strong>\r\n\r\nFUN44\r\nGBP/NZD\r\nLong at 2.0507\r\nStop at 1.9800\r\nLimit at 2.3200\r\nPrice Now: 2.0217\r\nCurrent Profit / Loss Position: -290 pips\r\n(This trade is hedged from -125 pips\r\n\r\n<strong> </strong><strong> </strong>\r\n<ol start=\"4\">\r\n	<li><span style=\"font-size: 12pt;\"><strong> LIMIT &amp; STOP ORDERS WITH BROKERS:</strong></span></li>\r\n</ol>\r\nRT192\r\nAUD/USD\r\nShort\r\nShort Entry at: 0.8870\r\nStop at: 0.8950\r\nLimit: 0.8000\r\n\r\nRT193\r\nNZD/USD\r\nShort\r\nShort Entry at: 0.8050\r\nStop at 0.8125\r\nLimit at: 0.6500\r\n\r\nGood luck today and have a great weekend.\r\n\r\nScott Pickering\r\nThe Pip Accumulator\r\n<a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a>\r\nTwitter: @ThePremService\r\nEmail: premiumserice@weeklyfxdrivethru.com\r\n\r\n<strong>DISCLAIMER:</strong>\r\n\r\nFLASH, 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.','#111- THE DAILY FX POST, Tuesday 21st October 2014','','inherit','open','closed','','4604-revision-v1','','','2014-10-21 07:24:35','2014-10-21 12:24:35','',4604,'https://weeklyfxdrivethru.com/4604-revision-v1/',0,'revision','',0),(4607,1,'2014-10-22 07:40:28','2014-10-22 12:40:28','<strong><span style=\"font-size: 14pt;\">THE DAILY FX POST</span>\r\n<span style=\"font-size: 14pt;\"> from</span>\r\n<span style=\"font-size: 14pt;\"> THE PREMIUM SERVICE</span></strong>\r\n\r\n&nbsp;\r\n\r\n<strong>DATE: Wednesday 22nd October 2014\r\nREF: #112</strong>\r\n\r\n&nbsp;\r\n<ol>\r\n	<li><span style=\"font-size: 12pt;\"><strong> OVERVIEW – INITIAL THOUGHTS:</strong></span></li>\r\n</ol>\r\nPLAN A (From the past two days) … is in play without the re-test of the supporting USD index (DXY) chart from a couple of days ago.\r\n\r\nThe fall in the EUR/USD through 1.2720, that I had written about yesterday happened and I am now looking to build USD long positions.\r\n\r\nI am still short part of my GBP/USD from this morning. In error I opened two trades so although out of the money by 5 pips my entry was 1.6045. One was closed with a 5-pip profit (FT208) after taking various profits as it jumped around between 1.6040 and 1.6025, but the other FT209 is live.\r\n\r\nLots of news today, so I am holding off on set-ups until after the news.\r\n\r\nI will be on twitter.\r\n\r\n<strong> </strong>\r\n<ol start=\"2\">\r\n	<li><span style=\"font-size: 12pt;\"><strong> KEY NEWS EVENTS NEXT 24 hours (BASED UPON (NYC) EDT TIME:</strong></span>CAD: - Core Retail Sales, BOC Interest Rate Statement, Press Conference.\r\nUSD: - Core CPi.\r\n\r\nNZD: - CPI.\r\nCNY: - HSBC Flash Manufacturing PMi.\r\n\r\nEUR: - France and Germany Flash Manufacturing PMi.\r\nGBP: - Retail Sales.</li>\r\n</ol>\r\n<strong> </strong><strong> </strong>\r\n<ol start=\"3\">\r\n	<li><span style=\"font-size: 12pt;\"><strong> EXISTING LIVE TRADES:</strong></span></li>\r\n</ol>\r\n&nbsp;\r\n\r\n<strong>RADAR TRADES:</strong>\r\n\r\nRT194\r\nEUR/USD\r\nShort\r\nShort at: 1.2735\r\nStop at: 1.2785\r\nLimit: 1.1860\r\nPrice Now: 1.2697\r\nCurrent Profit / Loss Position: +40 pips\r\n\r\n<strong> </strong>\r\n\r\n<strong>FLASH TRADES:</strong>\r\n\r\nFT190\r\nNZD/USD\r\nShort at 0.7793\r\nStop at 0.8050\r\nLimit at 0.6580\r\nPrice Now: 0.7976\r\nCurrent Profit / Loss Position: -183 pips\r\n(This pair is hedged from -100 pips)\r\n\r\nFT202\r\nUSD/CAD\r\nLong at 1.1340\r\nStop at 1.1170\r\nLimit at 1.1570\r\nPrice Now: 1.1219\r\nCurrent Profit / Loss Position: -121 pips\r\n(This pair is hedged from -70 pips)\r\n\r\nFT209\r\nGBP/USD\r\nShort at 1.6045\r\nStop at 1.6080\r\nLimit at 1.5450\r\nPrice Now: 1.6053\r\nCurrent Profit / Loss Position: -8 pips\r\n\r\n<strong>FUNDAMENTAL TRADES:</strong>\r\n\r\nFUN44\r\nGBP/NZD\r\nLong at 2.0507\r\nStop at 1.9800\r\nLimit at 2.3200\r\nPrice Now: 2.0123\r\nCurrent Profit / Loss Position: -384 pips\r\n(This trade is hedged from -125 pips\r\n\r\n<strong> </strong><strong> </strong>\r\n<ol start=\"4\">\r\n	<li><span style=\"font-size: 12pt;\"><strong> LIMIT &amp; STOP ORDERS WITH BROKERS:</strong></span></li>\r\n</ol>\r\nRT195\r\nAUD/USD\r\nShort\r\nShort Entry at: 0.8830\r\nStop at: 0.0.8890\r\nLimit: 0.7800\r\n\r\nRT196\r\nNZD/USD\r\nShort\r\nShort Entry at: 0.7995\r\nStop at 0.8060\r\nLimit at: 0.6800\r\n\r\nGood luck today and have a great weekend.\r\n\r\nScott Pickering\r\nThe Pip Accumulator\r\n<a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a>\r\nTwitter: @ThePremService\r\nEmail: premiumserice@weeklyfxdrivethru.com\r\n\r\n<strong>DISCLAIMER:</strong>\r\n\r\nFLASH, 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.','#112 - THE DAILY FX POST, Wednesday 22nd October 2014','','publish','open','closed','','112-daily-fx-post-wednesday-22nd-october-2014','','','2014-10-22 07:40:28','2014-10-22 12:40:28','',0,'https://weeklyfxdrivethru.com/?post_type=member_posts&#038;p=4607',0,'member_posts','',0),(4608,1,'2014-10-22 07:39:51','2014-10-22 12:39:51','<strong><span style=\"font-size: 14pt;\">THE DAILY FX POST</span>\r\n<span style=\"font-size: 14pt;\"> from</span>\r\n<span style=\"font-size: 14pt;\"> THE PREMIUM SERVICE</span>\r\n\r\n</strong>\r\n\r\n<strong>DATE: Wednesday 22nd October 2014\r\nREF: #112</strong>\r\n\r\n&nbsp;\r\n<ol>\r\n	<li><span style=\"font-size: 12pt;\"><strong> OVERVIEW – INITIAL THOUGHTS:</strong></span></li>\r\n</ol>\r\nPLAN A (From the past two days) … is in play without the re-test of the supporting USD index (DXY) chart from a couple of days ago.\r\n\r\nThe fall in the EUR/USD through 1.2720, that I had written about yesterday happened and I am now looking to build USD long positions.\r\n\r\nI am still short part of my GBP/USD from this morning. In error I opened two trades so although out of the money by 5 pips my entry was 1.6045. One was closed with a 5-pip profit (FT208) after taking various profits as it jumped around between 1.6040 and 1.6025, but the other FT209 is live.\r\n\r\nLots of news today, so I am holding off on set-ups until after the news.\r\n\r\nI will be on twitter.\r\n\r\n<strong> </strong>\r\n<ol start=\"2\">\r\n	<li><span style=\"font-size: 12pt;\"><strong> KEY NEWS EVENTS NEXT 24 hours (BASED UPON (NYC) EDT TIME:</strong></span>\r\n\r\nCAD: - Core Retail Sales, BOC Interest Rate Statement, Press Conference.\r\nUSD: - Core CPi.\r\n\r\nNZD: - CPI.\r\nCNY: - HSBC Flash Manufacturing PMi.\r\n\r\nEUR: - France and Germany Flash Manufacturing PMi.\r\nGBP: - Retail Sales.</li>\r\n</ol>\r\n<strong> </strong><strong> </strong>\r\n<ol start=\"3\">\r\n	<li><span style=\"font-size: 12pt;\"><strong> EXISTING LIVE TRADES:</strong></span></li>\r\n</ol>\r\n&nbsp;\r\n\r\n<strong>RADAR TRADES:</strong>\r\n\r\nRT194\r\nEUR/USD\r\nShort\r\nShort at: 1.2735\r\nStop at: 1.2785\r\nLimit: 1.1860\r\nPrice Now: 1.2697\r\nCurrent Profit / Loss Position: +40 pips\r\n\r\n<strong> </strong>\r\n\r\n<strong>FLASH TRADES:</strong>\r\n\r\nFT190\r\nNZD/USD\r\nShort at 0.7793\r\nStop at 0.8050\r\nLimit at 0.6580\r\nPrice Now: 0.7976\r\nCurrent Profit / Loss Position: -183 pips\r\n(This pair is hedged from -100 pips)\r\n\r\nFT202\r\nUSD/CAD\r\nLong at 1.1340\r\nStop at 1.1170\r\nLimit at 1.1570\r\nPrice Now: 1.1219\r\nCurrent Profit / Loss Position: -121 pips\r\n(This pair is hedged from -70 pips)\r\n\r\nFT209\r\nGBP/USD\r\nShort at 1.6045\r\nStop at 1.6080\r\nLimit at 1.5450\r\nPrice Now: 1.6053\r\nCurrent Profit / Loss Position: -8 pips\r\n\r\n<strong>FUNDAMENTAL TRADES:</strong>\r\n\r\nFUN44\r\nGBP/NZD\r\nLong at 2.0507\r\nStop at 1.9800\r\nLimit at 2.3200\r\nPrice Now: 2.0123\r\nCurrent Profit / Loss Position: -384 pips\r\n(This trade is hedged from -125 pips\r\n\r\n<strong> </strong><strong> </strong>\r\n<ol start=\"4\">\r\n	<li><span style=\"font-size: 12pt;\"><strong> LIMIT &amp; STOP ORDERS WITH BROKERS:</strong></span></li>\r\n</ol>\r\nRT195\r\nAUD/USD\r\nShort\r\nShort Entry at: 0.8830\r\nStop at: 0.0.8890\r\nLimit: 0.7800\r\n\r\nRT196\r\nNZD/USD\r\nShort\r\nShort Entry at: 0.7995\r\nStop at 0.8060\r\nLimit at: 0.6800\r\n\r\nGood luck today and have a great weekend.\r\n\r\nScott Pickering\r\nThe Pip Accumulator\r\n<a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a>\r\nTwitter: @ThePremService\r\nEmail: premiumserice@weeklyfxdrivethru.com\r\n\r\n<strong>DISCLAIMER:</strong>\r\n\r\nFLASH, 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.','#112 - THE DAILY FX POST, Wednesday 22nd October 2014','','inherit','open','closed','','4607-revision-v1','','','2014-10-22 07:39:51','2014-10-22 12:39:51','',4607,'https://weeklyfxdrivethru.com/4607-revision-v1/',0,'revision','',0),(4609,1,'2014-10-22 07:40:28','2014-10-22 12:40:28','<strong><span style=\"font-size: 14pt;\">THE DAILY FX POST</span>\r\n<span style=\"font-size: 14pt;\"> from</span>\r\n<span style=\"font-size: 14pt;\"> THE PREMIUM SERVICE</span></strong>\r\n\r\n&nbsp;\r\n\r\n<strong>DATE: Wednesday 22nd October 2014\r\nREF: #112</strong>\r\n\r\n&nbsp;\r\n<ol>\r\n	<li><span style=\"font-size: 12pt;\"><strong> OVERVIEW – INITIAL THOUGHTS:</strong></span></li>\r\n</ol>\r\nPLAN A (From the past two days) … is in play without the re-test of the supporting USD index (DXY) chart from a couple of days ago.\r\n\r\nThe fall in the EUR/USD through 1.2720, that I had written about yesterday happened and I am now looking to build USD long positions.\r\n\r\nI am still short part of my GBP/USD from this morning. In error I opened two trades so although out of the money by 5 pips my entry was 1.6045. One was closed with a 5-pip profit (FT208) after taking various profits as it jumped around between 1.6040 and 1.6025, but the other FT209 is live.\r\n\r\nLots of news today, so I am holding off on set-ups until after the news.\r\n\r\nI will be on twitter.\r\n\r\n<strong> </strong>\r\n<ol start=\"2\">\r\n	<li><span style=\"font-size: 12pt;\"><strong> KEY NEWS EVENTS NEXT 24 hours (BASED UPON (NYC) EDT TIME:</strong></span>CAD: - Core Retail Sales, BOC Interest Rate Statement, Press Conference.\r\nUSD: - Core CPi.\r\n\r\nNZD: - CPI.\r\nCNY: - HSBC Flash Manufacturing PMi.\r\n\r\nEUR: - France and Germany Flash Manufacturing PMi.\r\nGBP: - Retail Sales.</li>\r\n</ol>\r\n<strong> </strong><strong> </strong>\r\n<ol start=\"3\">\r\n	<li><span style=\"font-size: 12pt;\"><strong> EXISTING LIVE TRADES:</strong></span></li>\r\n</ol>\r\n&nbsp;\r\n\r\n<strong>RADAR TRADES:</strong>\r\n\r\nRT194\r\nEUR/USD\r\nShort\r\nShort at: 1.2735\r\nStop at: 1.2785\r\nLimit: 1.1860\r\nPrice Now: 1.2697\r\nCurrent Profit / Loss Position: +40 pips\r\n\r\n<strong> </strong>\r\n\r\n<strong>FLASH TRADES:</strong>\r\n\r\nFT190\r\nNZD/USD\r\nShort at 0.7793\r\nStop at 0.8050\r\nLimit at 0.6580\r\nPrice Now: 0.7976\r\nCurrent Profit / Loss Position: -183 pips\r\n(This pair is hedged from -100 pips)\r\n\r\nFT202\r\nUSD/CAD\r\nLong at 1.1340\r\nStop at 1.1170\r\nLimit at 1.1570\r\nPrice Now: 1.1219\r\nCurrent Profit / Loss Position: -121 pips\r\n(This pair is hedged from -70 pips)\r\n\r\nFT209\r\nGBP/USD\r\nShort at 1.6045\r\nStop at 1.6080\r\nLimit at 1.5450\r\nPrice Now: 1.6053\r\nCurrent Profit / Loss Position: -8 pips\r\n\r\n<strong>FUNDAMENTAL TRADES:</strong>\r\n\r\nFUN44\r\nGBP/NZD\r\nLong at 2.0507\r\nStop at 1.9800\r\nLimit at 2.3200\r\nPrice Now: 2.0123\r\nCurrent Profit / Loss Position: -384 pips\r\n(This trade is hedged from -125 pips\r\n\r\n<strong> </strong><strong> </strong>\r\n<ol start=\"4\">\r\n	<li><span style=\"font-size: 12pt;\"><strong> LIMIT &amp; STOP ORDERS WITH BROKERS:</strong></span></li>\r\n</ol>\r\nRT195\r\nAUD/USD\r\nShort\r\nShort Entry at: 0.8830\r\nStop at: 0.0.8890\r\nLimit: 0.7800\r\n\r\nRT196\r\nNZD/USD\r\nShort\r\nShort Entry at: 0.7995\r\nStop at 0.8060\r\nLimit at: 0.6800\r\n\r\nGood luck today and have a great weekend.\r\n\r\nScott Pickering\r\nThe Pip Accumulator\r\n<a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a>\r\nTwitter: @ThePremService\r\nEmail: premiumserice@weeklyfxdrivethru.com\r\n\r\n<strong>DISCLAIMER:</strong>\r\n\r\nFLASH, 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.','#112 - THE DAILY FX POST, Wednesday 22nd October 2014','','inherit','open','closed','','4607-revision-v1','','','2014-10-22 07:40:28','2014-10-22 12:40:28','',4607,'https://weeklyfxdrivethru.com/4607-revision-v1/',0,'revision','',0),(4610,1,'2014-10-23 07:23:04','2014-10-23 12:23:04','<strong><span style=\"font-size: 14pt;\">THE DAILY FX POST</span>\r\n<span style=\"font-size: 14pt;\"> from</span>\r\n<span style=\"font-size: 14pt;\"> THE PREMIUM SERVICE</span></strong>\r\n\r\n&nbsp;\r\n\r\n<strong>DATE: Thursday 23<sup>rd</sup> October 2014\r\nREF: #113</strong>\r\n\r\n&nbsp;\r\n<ol>\r\n	<li><span style=\"font-size: 12pt;\"><strong> OVERVIEW – INITIAL THOUGHTS:</strong></span></li>\r\n</ol>\r\nIt was a busy day yesterday with chart analysis and set-ups. I posted several new ones to twitter.\r\n\r\nPLAN A is now in position, it is just a case of how many o the limit order trades will trigger to be added to the existing LIVE trades.\r\n\r\nU.S. equities futures are very bullish today, so we may see some consolidation moves in the Forex market. However, watch Crude OIL, if it drops below $80.00 again, not only will this give the USD/CAD a lift it will help strengthen the USD and this could send the EUR/USD towards a re-test of the overnight lows at 1.2600. The Saudis just announced a cut in production; Crude spiked and is now pulling back in the trend once again.\r\n\r\nThe GBP/USD had poor consumer data released this morning, which has put pressure on the cable. If the EUR/USD falls this could be all that is required to pull the GBP/USD back below 1.6000 and head towards the mid 1.50s.\r\n\r\nThe commodity currencies are being held up with equities at the moment, and, in particular, I am finding the AUD/USD a pain, as it just will not fall. A nice drop in the price of GOLD plus equity strength being sold into at the open on Wall Street could see it move lower and hopefully it will drag the NZD/USD with it.\r\n\r\nLets see what develops.\r\n\r\n<strong> </strong>\r\n<ol start=\"2\">\r\n	<li><span style=\"font-size: 12pt;\"><strong> KEY NEWS EVENTS NEXT 24 hours (BASED UPON (NYC) EDT TIME:</strong></span></li>\r\n</ol>\r\nUSD: - Unemployment Claims.\r\nCAD: - BOC Governor Poloz speaks\r\n\r\nNZD: - Trade Balance.\r\n\r\nGBP: - GDP.<strong> </strong>\r\n\r\n<strong> </strong>\r\n<ol start=\"3\">\r\n	<li><span style=\"font-size: 12pt;\"><strong> EXISTING LIVE TRADES:</strong></span></li>\r\n</ol>\r\n<strong>RADAR TRADES:</strong>\r\n\r\nRT194\r\nEUR/USD\r\nShort\r\nShort at: 1.2735\r\nStop at: 1.2785\r\nLimit: 1.1860\r\nPrice Now: 1.2663\r\nCurrent Profit / Loss Position: +72 pips\r\n\r\n<strong>FLASH TRADES:</strong>\r\n\r\nFT190\r\nNZD/USD\r\nShort at 0.7793\r\nStop at 0.8050\r\nLimit at 0.6580\r\nPrice Now: 0.7862\r\nCurrent Profit / Loss Position: - 69 pips\r\n\r\nFT202\r\nUSD/CAD\r\nLong at 1.1340\r\nStop at 1.1170\r\nLimit at 1.1570\r\nPrice Now: 1.1210\r\nCurrent Profit / Loss Position: -130 pips\r\n(This pair is hedged from -70 pips)\r\n\r\nFT208\r\nGBP/USD\r\nShort at 1.6045\r\nStop at 1.6080\r\nLimit at 1.5450\r\nPrice Now: 1.6028\r\nCurrent Profit / Loss Position: +17 pips\r\n\r\nFT209\r\nAUD/USD\r\nShort at 0.8785\r\nStop at 0.8850\r\nLimit at 0.8000\r\nPrice Now: 0.8796\r\nCurrent Profit / Loss Position: -11 pips\r\n\r\n<strong>FUNDAMENTAL TRADES:</strong>\r\n\r\nFUN44\r\nGBP/NZD\r\nLong at 2.0507\r\nStop at 1.9800\r\nLimit at 2.3200\r\nPrice Now: 2.0383\r\nCurrent Profit / Loss Position: -124 pips\r\n(This trade is hedged from -125 pips)\r\n\r\nFUN58\r\nGBP/AUD\r\nLong at 1.8250\r\nStop at 1.8100\r\nLimit at 1.8650\r\nPrice Now: 1.8216\r\nCurrent Profit / Loss Position: -34 pips\r\n\r\n<strong> </strong>\r\n<ol start=\"4\">\r\n	<li><span style=\"font-size: 12pt;\"><strong> LIMIT &amp; STOP ORDERS WITH BROKERS:</strong></span></li>\r\n</ol>\r\nRT197\r\nUSD/CHF\r\nLong\r\nLong Entry at: 0.9510\r\nStop at: 0.9440\r\nLimit: 0.9680\r\n\r\nRT198\r\nNZD/USD\r\nShort\r\nShort Entry at: 0.7880\r\nStop at 0.7950\r\nLimit at: 0.6680\r\n\r\nFUN55\r\nGBP/CAD\r\nLong\r\nLong Entry at: 1.7950\r\nStop at 1.7865\r\nLimit at: 1.8250\r\n\r\nFUN56\r\nEUR/CAD\r\nLong\r\nLong Entry at: 1.4127\r\nStop at 1.3980\r\nLimit at: 1.4500\r\n\r\nFUN57\r\nEUR/AUD\r\nLong\r\nLong Entry at: 1.4350\r\nStop at 1.3950\r\nLimit at: 1.5600\r\n\r\nFUN59\r\nEUR/NZD\r\nLong\r\nLong Entry at: 1.5900\r\nStop at 1.5750\r\nLimit at: 1.6300\r\n\r\n&nbsp;\r\n\r\nGood luck today.\r\n\r\nScott Pickering\r\nThe Pip Accumulator\r\n<a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a>\r\nTwitter: @ThePremService\r\nEmail: premiumserice@weeklyfxdrivethru.com<strong> </strong>\r\n\r\n<strong>DISCLAIMER:</strong>\r\n\r\nFLASH, 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.','#113 - THE DAILY FX POST, Thursday 23rd October 2014','','publish','open','closed','','113-daily-fx-post-thursday-23rd-october-2014','','','2014-10-23 07:23:04','2014-10-23 12:23:04','',0,'https://weeklyfxdrivethru.com/?post_type=member_posts&#038;p=4610',0,'member_posts','',0),(4611,1,'2014-10-23 07:22:38','2014-10-23 12:22:38','<strong><span style=\"font-size: 14pt;\">THE DAILY FX POST</span>\r\n<span style=\"font-size: 14pt;\"> from</span>\r\n<span style=\"font-size: 14pt;\"> THE PREMIUM SERVICE</span>\r\n\r\n</strong>\r\n\r\n<strong>DATE: Thursday 23<sup>rd</sup> October 2014\r\nREF: #113</strong>\r\n\r\n&nbsp;\r\n<ol>\r\n	<li><span style=\"font-size: 12pt;\"><strong> OVERVIEW – INITIAL THOUGHTS:</strong></span></li>\r\n</ol>\r\nIt was a busy day yesterday with chart analysis and set-ups. I posted several new ones to twitter.\r\n\r\nPLAN A is now in position, it is just a case of how many o the limit order trades will trigger to be added to the existing LIVE trades.\r\n\r\nU.S. equities futures are very bullish today, so we may see some consolidation moves in the Forex market. However, watch Crude OIL, if it drops below $80.00 again, not only will this give the USD/CAD a lift it will help strengthen the USD and this could send the EUR/USD towards a re-test of the overnight lows at 1.2600. The Saudis just announced a cut in production; Crude spiked and is now pulling back in the trend once again.\r\n\r\nThe GBP/USD had poor consumer data released this morning, which has put pressure on the cable. If the EUR/USD falls this could be all that is required to pull the GBP/USD back below 1.6000 and head towards the mid 1.50s.\r\n\r\nThe commodity currencies are being held up with equities at the moment, and, in particular, I am finding the AUD/USD a pain, as it just will not fall. A nice drop in the price of GOLD plus equity strength being sold into at the open on Wall Street could see it move lower and hopefully it will drag the NZD/USD with it.\r\n\r\nLets see what develops.\r\n\r\n<strong> </strong>\r\n<ol start=\"2\">\r\n	<li><span style=\"font-size: 12pt;\"><strong> KEY NEWS EVENTS NEXT 24 hours (BASED UPON (NYC) EDT TIME:</strong></span></li>\r\n</ol>\r\nUSD: - Unemployment Claims.\r\nCAD: - BOC Governor Poloz speaks\r\n\r\nNZD: - Trade Balance.\r\n\r\nGBP: - GDP.<strong> </strong>\r\n\r\n<strong> </strong>\r\n<ol start=\"3\">\r\n	<li><span style=\"font-size: 12pt;\"><strong> EXISTING LIVE TRADES:</strong></span></li>\r\n</ol>\r\n<strong>RADAR TRADES:</strong>\r\n\r\nRT194\r\nEUR/USD\r\nShort\r\nShort at: 1.2735\r\nStop at: 1.2785\r\nLimit: 1.1860\r\nPrice Now: 1.2663\r\nCurrent Profit / Loss Position: +72 pips\r\n\r\n<strong>FLASH TRADES:</strong>\r\n\r\nFT190\r\nNZD/USD\r\nShort at 0.7793\r\nStop at 0.8050\r\nLimit at 0.6580\r\nPrice Now: 0.7862\r\nCurrent Profit / Loss Position: - 69 pips\r\n\r\nFT202\r\nUSD/CAD\r\nLong at 1.1340\r\nStop at 1.1170\r\nLimit at 1.1570\r\nPrice Now: 1.1210\r\nCurrent Profit / Loss Position: -130 pips\r\n(This pair is hedged from -70 pips)\r\n\r\nFT208\r\nGBP/USD\r\nShort at 1.6045\r\nStop at 1.6080\r\nLimit at 1.5450\r\nPrice Now: 1.6028\r\nCurrent Profit / Loss Position: +17 pips\r\n\r\nFT209\r\nAUD/USD\r\nShort at 0.8785\r\nStop at 0.8850\r\nLimit at 0.8000\r\nPrice Now: 0.8796\r\nCurrent Profit / Loss Position: -11 pips\r\n\r\n<strong>FUNDAMENTAL TRADES:</strong>\r\n\r\nFUN44\r\nGBP/NZD\r\nLong at 2.0507\r\nStop at 1.9800\r\nLimit at 2.3200\r\nPrice Now: 2.0383\r\nCurrent Profit / Loss Position: -124 pips\r\n(This trade is hedged from -125 pips)\r\n\r\nFUN58\r\nGBP/AUD\r\nLong at 1.8250\r\nStop at 1.8100\r\nLimit at 1.8650\r\nPrice Now: 1.8216\r\nCurrent Profit / Loss Position: -34 pips\r\n\r\n<strong> </strong>\r\n<ol start=\"4\">\r\n	<li><span style=\"font-size: 12pt;\"><strong> LIMIT &amp; STOP ORDERS WITH BROKERS:</strong></span></li>\r\n</ol>\r\nRT197\r\nUSD/CHF\r\nLong\r\nLong Entry at: 0.9510\r\nStop at: 0.9440\r\nLimit: 0.9680\r\n\r\nRT198\r\nNZD/USD\r\nShort\r\nShort Entry at: 0.7880\r\nStop at 0.7950\r\nLimit at: 0.6680\r\n\r\nFUN55\r\nGBP/CAD\r\nLong\r\nLong Entry at: 1.7950\r\nStop at 1.7865\r\nLimit at: 1.8250\r\n\r\nFUN56\r\nEUR/CAD\r\nLong\r\nLong Entry at: 1.4127\r\nStop at 1.3980\r\nLimit at: 1.4500\r\n\r\nFUN57\r\nEUR/AUD\r\nLong\r\nLong Entry at: 1.4350\r\nStop at 1.3950\r\nLimit at: 1.5600\r\n\r\nFUN59\r\nEUR/NZD\r\nLong\r\nLong Entry at: 1.5900\r\nStop at 1.5750\r\nLimit at: 1.6300\r\n\r\n&nbsp;\r\n\r\nGood luck today.\r\n\r\nScott Pickering\r\nThe Pip Accumulator\r\n<a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a>\r\nTwitter: @ThePremService\r\nEmail: premiumserice@weeklyfxdrivethru.com<strong> </strong>\r\n\r\n<strong>DISCLAIMER:</strong>\r\n\r\nFLASH, 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.','#113 - THE DAILY FX POST, Thursday 23rd October 2014','','inherit','open','closed','','4610-revision-v1','','','2014-10-23 07:22:38','2014-10-23 12:22:38','',4610,'https://weeklyfxdrivethru.com/4610-revision-v1/',0,'revision','',0),(4612,1,'2014-10-23 07:23:04','2014-10-23 12:23:04','<strong><span style=\"font-size: 14pt;\">THE DAILY FX POST</span>\r\n<span style=\"font-size: 14pt;\"> from</span>\r\n<span style=\"font-size: 14pt;\"> THE PREMIUM SERVICE</span></strong>\r\n\r\n&nbsp;\r\n\r\n<strong>DATE: Thursday 23<sup>rd</sup> October 2014\r\nREF: #113</strong>\r\n\r\n&nbsp;\r\n<ol>\r\n	<li><span style=\"font-size: 12pt;\"><strong> OVERVIEW – INITIAL THOUGHTS:</strong></span></li>\r\n</ol>\r\nIt was a busy day yesterday with chart analysis and set-ups. I posted several new ones to twitter.\r\n\r\nPLAN A is now in position, it is just a case of how many o the limit order trades will trigger to be added to the existing LIVE trades.\r\n\r\nU.S. equities futures are very bullish today, so we may see some consolidation moves in the Forex market. However, watch Crude OIL, if it drops below $80.00 again, not only will this give the USD/CAD a lift it will help strengthen the USD and this could send the EUR/USD towards a re-test of the overnight lows at 1.2600. The Saudis just announced a cut in production; Crude spiked and is now pulling back in the trend once again.\r\n\r\nThe GBP/USD had poor consumer data released this morning, which has put pressure on the cable. If the EUR/USD falls this could be all that is required to pull the GBP/USD back below 1.6000 and head towards the mid 1.50s.\r\n\r\nThe commodity currencies are being held up with equities at the moment, and, in particular, I am finding the AUD/USD a pain, as it just will not fall. A nice drop in the price of GOLD plus equity strength being sold into at the open on Wall Street could see it move lower and hopefully it will drag the NZD/USD with it.\r\n\r\nLets see what develops.\r\n\r\n<strong> </strong>\r\n<ol start=\"2\">\r\n	<li><span style=\"font-size: 12pt;\"><strong> KEY NEWS EVENTS NEXT 24 hours (BASED UPON (NYC) EDT TIME:</strong></span></li>\r\n</ol>\r\nUSD: - Unemployment Claims.\r\nCAD: - BOC Governor Poloz speaks\r\n\r\nNZD: - Trade Balance.\r\n\r\nGBP: - GDP.<strong> </strong>\r\n\r\n<strong> </strong>\r\n<ol start=\"3\">\r\n	<li><span style=\"font-size: 12pt;\"><strong> EXISTING LIVE TRADES:</strong></span></li>\r\n</ol>\r\n<strong>RADAR TRADES:</strong>\r\n\r\nRT194\r\nEUR/USD\r\nShort\r\nShort at: 1.2735\r\nStop at: 1.2785\r\nLimit: 1.1860\r\nPrice Now: 1.2663\r\nCurrent Profit / Loss Position: +72 pips\r\n\r\n<strong>FLASH TRADES:</strong>\r\n\r\nFT190\r\nNZD/USD\r\nShort at 0.7793\r\nStop at 0.8050\r\nLimit at 0.6580\r\nPrice Now: 0.7862\r\nCurrent Profit / Loss Position: - 69 pips\r\n\r\nFT202\r\nUSD/CAD\r\nLong at 1.1340\r\nStop at 1.1170\r\nLimit at 1.1570\r\nPrice Now: 1.1210\r\nCurrent Profit / Loss Position: -130 pips\r\n(This pair is hedged from -70 pips)\r\n\r\nFT208\r\nGBP/USD\r\nShort at 1.6045\r\nStop at 1.6080\r\nLimit at 1.5450\r\nPrice Now: 1.6028\r\nCurrent Profit / Loss Position: +17 pips\r\n\r\nFT209\r\nAUD/USD\r\nShort at 0.8785\r\nStop at 0.8850\r\nLimit at 0.8000\r\nPrice Now: 0.8796\r\nCurrent Profit / Loss Position: -11 pips\r\n\r\n<strong>FUNDAMENTAL TRADES:</strong>\r\n\r\nFUN44\r\nGBP/NZD\r\nLong at 2.0507\r\nStop at 1.9800\r\nLimit at 2.3200\r\nPrice Now: 2.0383\r\nCurrent Profit / Loss Position: -124 pips\r\n(This trade is hedged from -125 pips)\r\n\r\nFUN58\r\nGBP/AUD\r\nLong at 1.8250\r\nStop at 1.8100\r\nLimit at 1.8650\r\nPrice Now: 1.8216\r\nCurrent Profit / Loss Position: -34 pips\r\n\r\n<strong> </strong>\r\n<ol start=\"4\">\r\n	<li><span style=\"font-size: 12pt;\"><strong> LIMIT &amp; STOP ORDERS WITH BROKERS:</strong></span></li>\r\n</ol>\r\nRT197\r\nUSD/CHF\r\nLong\r\nLong Entry at: 0.9510\r\nStop at: 0.9440\r\nLimit: 0.9680\r\n\r\nRT198\r\nNZD/USD\r\nShort\r\nShort Entry at: 0.7880\r\nStop at 0.7950\r\nLimit at: 0.6680\r\n\r\nFUN55\r\nGBP/CAD\r\nLong\r\nLong Entry at: 1.7950\r\nStop at 1.7865\r\nLimit at: 1.8250\r\n\r\nFUN56\r\nEUR/CAD\r\nLong\r\nLong Entry at: 1.4127\r\nStop at 1.3980\r\nLimit at: 1.4500\r\n\r\nFUN57\r\nEUR/AUD\r\nLong\r\nLong Entry at: 1.4350\r\nStop at 1.3950\r\nLimit at: 1.5600\r\n\r\nFUN59\r\nEUR/NZD\r\nLong\r\nLong Entry at: 1.5900\r\nStop at 1.5750\r\nLimit at: 1.6300\r\n\r\n&nbsp;\r\n\r\nGood luck today.\r\n\r\nScott Pickering\r\nThe Pip Accumulator\r\n<a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a>\r\nTwitter: @ThePremService\r\nEmail: premiumserice@weeklyfxdrivethru.com<strong> </strong>\r\n\r\n<strong>DISCLAIMER:</strong>\r\n\r\nFLASH, 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.','#113 - THE DAILY FX POST, Thursday 23rd October 2014','','inherit','open','closed','','4610-revision-v1','','','2014-10-23 07:23:04','2014-10-23 12:23:04','',4610,'https://weeklyfxdrivethru.com/4610-revision-v1/',0,'revision','',0),(4614,1,'2014-10-24 07:16:11','2014-10-24 12:16:11','<strong><span style=\"font-size: 14pt;\">THE DAILY FX POST</span>\r\n<span style=\"font-size: 14pt;\"> from</span>\r\n<span style=\"font-size: 14pt;\"> THE PREMIUM SERVICE</span>\r\n\r\n</strong>\r\n\r\n<strong>DATE: Friday 24th October 2014\r\nREF: #114</strong>\r\n\r\n&nbsp;\r\n<ol>\r\n	<li><span style=\"font-size: 12pt;\"><strong> OVERVIEW – INITIAL THOUGHTS:</strong></span></li>\r\n</ol>\r\nOne or two comments have been received about PLAN A and my closing off several trades. PLAN A is still alive. I am just profit taking along the way.\r\n\r\nEarlier this month I let over 600 pips of profit walk out of the door because I was letting trades breathe. There is nothing wrong with that but they took in oxygen and I let over $3,000 walk.\r\n\r\nTherefore PLAN A is still very much alive and there are thousands of pips available so to lose a hundred (for arguments sake) on exiting and re-entering trades is neither here or there as far as I am concerned.\r\n\r\nToday is the end of the trading week; we have had an Ebola alert in NYC. Yesterday after the case was confirmed the Dow spilled 100 points. I see not a lot of action today and with it being a Friday, I think that the Friday feeling will roll in around the European markets close.\r\n\r\nI am a little concerned with the price action in the commodity currencies as we chop around and consolidate. I was hoping for a more decisive move lower, but geopolitical concerns and the breadth of the moves of late will create periods of consolidation.\r\n\r\nI am not expecting to add further trades today.\r\n\r\n<strong> </strong>\r\n<ol start=\"2\">\r\n	<li><span style=\"font-size: 12pt;\"><strong> KEY NEWS EVENTS NEXT 24 hours (BASED UPON (NYC) EDT TIME:</strong></span></li>\r\n</ol>\r\nUSD: - New Home Sales.\r\n\r\nEUR: - Eurozone Bank Stress Tests.\r\n\r\n<strong> </strong>\r\n<ol start=\"3\">\r\n	<li><span style=\"font-size: 12pt;\"><strong> EXISTING LIVE TRADES:</strong></span></li>\r\n</ol>\r\n<strong>RADAR TRADES:</strong>\r\n\r\nThere are no LIVE RADAR TRADES at the present time.\r\n\r\n<strong>FLASH TRADES:</strong>\r\n\r\nFT190\r\nNZD/USD\r\nShort at 0.7793\r\nStop at 0.8050\r\nLimit at 0.6580\r\nPrice Now: 0.7851\r\nCurrent Profit / Loss Position: - 58 pips\r\n\r\nFT202\r\nUSD/CAD\r\nLong at 1.1340\r\nStop at 1.1170\r\nLimit at 1.1570\r\nPrice Now: 1.1205\r\nCurrent Profit / Loss Position: -135 pips\r\n(This pair is hedged from -70 pips)<strong> </strong>\r\n\r\nFT209\r\nAUD/USD\r\nShort at 0.8785\r\nStop at 0.8850\r\nLimit at 0.8000\r\nPrice Now: 0.8784\r\nCurrent Profit / Loss Position: +1 pip\r\n\r\nFT212\r\nNZD/USD\r\nShort at 0.7826\r\nStop at 0.7880\r\nLimit at 0.7000\r\nPrice Now: 0.7848\r\nCurrent Profit / Loss Position: -22 pips\r\n\r\n<strong>FUNDAMENTAL TRADES:</strong>\r\n\r\nFUN44\r\nGBP/NZD\r\nLong at 2.0507\r\nStop at 1.9800\r\nLimit at 2.3200\r\nPrice Now: 2.0446\r\nCurrent Profit / Loss Position: -61 pips\r\n\r\n<strong> </strong>\r\n<ol start=\"4\">\r\n	<li><span style=\"font-size: 12pt;\"><strong> LIMIT &amp; STOP ORDERS WITH BROKERS:</strong></span></li>\r\n</ol>\r\nThere are no LIMIT ORDERS with my brokers at this present time.\r\n\r\n&nbsp;\r\n\r\nGood luck today.\r\n\r\nScott Pickering\r\nThe Pip Accumulator\r\n<a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a>\r\nTwitter: @ThePremService\r\nEmail: premiumserice@weeklyfxdrivethru.com<strong> </strong>\r\n\r\n<strong>DISCLAIMER:</strong>\r\n\r\nFLASH, 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.','#114 - THE DAILY FX POST, Friday 24th October 2014','','publish','open','closed','','114-daily-fx-post-friday-24th-october-2014','','','2014-10-24 07:16:11','2014-10-24 12:16:11','',0,'https://weeklyfxdrivethru.com/?post_type=member_posts&#038;p=4614',0,'member_posts','',0),(4615,1,'2014-10-24 07:16:11','2014-10-24 12:16:11','<strong><span style=\"font-size: 14pt;\">THE DAILY FX POST</span>\r\n<span style=\"font-size: 14pt;\"> from</span>\r\n<span style=\"font-size: 14pt;\"> THE PREMIUM SERVICE</span>\r\n\r\n</strong>\r\n\r\n<strong>DATE: Friday 24th October 2014\r\nREF: #114</strong>\r\n\r\n&nbsp;\r\n<ol>\r\n	<li><span style=\"font-size: 12pt;\"><strong> OVERVIEW – INITIAL THOUGHTS:</strong></span></li>\r\n</ol>\r\nOne or two comments have been received about PLAN A and my closing off several trades. PLAN A is still alive. I am just profit taking along the way.\r\n\r\nEarlier this month I let over 600 pips of profit walk out of the door because I was letting trades breathe. There is nothing wrong with that but they took in oxygen and I let over $3,000 walk.\r\n\r\nTherefore PLAN A is still very much alive and there are thousands of pips available so to lose a hundred (for arguments sake) on exiting and re-entering trades is neither here or there as far as I am concerned.\r\n\r\nToday is the end of the trading week; we have had an Ebola alert in NYC. Yesterday after the case was confirmed the Dow spilled 100 points. I see not a lot of action today and with it being a Friday, I think that the Friday feeling will roll in around the European markets close.\r\n\r\nI am a little concerned with the price action in the commodity currencies as we chop around and consolidate. I was hoping for a more decisive move lower, but geopolitical concerns and the breadth of the moves of late will create periods of consolidation.\r\n\r\nI am not expecting to add further trades today.\r\n\r\n<strong> </strong>\r\n<ol start=\"2\">\r\n	<li><span style=\"font-size: 12pt;\"><strong> KEY NEWS EVENTS NEXT 24 hours (BASED UPON (NYC) EDT TIME:</strong></span></li>\r\n</ol>\r\nUSD: - New Home Sales.\r\n\r\nEUR: - Eurozone Bank Stress Tests.\r\n\r\n<strong> </strong>\r\n<ol start=\"3\">\r\n	<li><span style=\"font-size: 12pt;\"><strong> EXISTING LIVE TRADES:</strong></span></li>\r\n</ol>\r\n<strong>RADAR TRADES:</strong>\r\n\r\nThere are no LIVE RADAR TRADES at the present time.\r\n\r\n<strong>FLASH TRADES:</strong>\r\n\r\nFT190\r\nNZD/USD\r\nShort at 0.7793\r\nStop at 0.8050\r\nLimit at 0.6580\r\nPrice Now: 0.7851\r\nCurrent Profit / Loss Position: - 58 pips\r\n\r\nFT202\r\nUSD/CAD\r\nLong at 1.1340\r\nStop at 1.1170\r\nLimit at 1.1570\r\nPrice Now: 1.1205\r\nCurrent Profit / Loss Position: -135 pips\r\n(This pair is hedged from -70 pips)<strong> </strong>\r\n\r\nFT209\r\nAUD/USD\r\nShort at 0.8785\r\nStop at 0.8850\r\nLimit at 0.8000\r\nPrice Now: 0.8784\r\nCurrent Profit / Loss Position: +1 pip\r\n\r\nFT212\r\nNZD/USD\r\nShort at 0.7826\r\nStop at 0.7880\r\nLimit at 0.7000\r\nPrice Now: 0.7848\r\nCurrent Profit / Loss Position: -22 pips\r\n\r\n<strong>FUNDAMENTAL TRADES:</strong>\r\n\r\nFUN44\r\nGBP/NZD\r\nLong at 2.0507\r\nStop at 1.9800\r\nLimit at 2.3200\r\nPrice Now: 2.0446\r\nCurrent Profit / Loss Position: -61 pips\r\n\r\n<strong> </strong>\r\n<ol start=\"4\">\r\n	<li><span style=\"font-size: 12pt;\"><strong> LIMIT &amp; STOP ORDERS WITH BROKERS:</strong></span></li>\r\n</ol>\r\nThere are no LIMIT ORDERS with my brokers at this present time.\r\n\r\n&nbsp;\r\n\r\nGood luck today.\r\n\r\nScott Pickering\r\nThe Pip Accumulator\r\n<a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a>\r\nTwitter: @ThePremService\r\nEmail: premiumserice@weeklyfxdrivethru.com<strong> </strong>\r\n\r\n<strong>DISCLAIMER:</strong>\r\n\r\nFLASH, 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.','#114 - THE DAILY FX POST, Friday 24th October 2014','','inherit','open','closed','','4614-revision-v1','','','2014-10-24 07:16:11','2014-10-24 12:16:11','',4614,'https://weeklyfxdrivethru.com/4614-revision-v1/',0,'revision','',0),(4628,1,'2014-10-24 14:41:43','2014-10-24 19:41:43','','IDEAS TO BATTLE UNCERTAINTY IN FOREX TRADING','','inherit','open','closed','','ideas-to-battle-uncertainty-in-forex-trading','','','2014-10-24 14:41:43','2014-10-24 19:41:43','',0,'https://weeklyfxdrivethru.com/wp-content/uploads/2014/10/IDEAS-TO-BATTLE-UNCERTAINTY-IN-FOREX-TRADING.pdf',0,'attachment','application/pdf',0),(4630,1,'2014-10-25 05:06:27','2014-10-25 10:06:27','<strong> </strong>\r\n<ol>\r\n	<li><span style=\"font-size: 14pt;\"><strong> INTRODUCTION:</strong></span></li>\r\n</ol>\r\nI had a great trading week, only one loss making trade, plenty of $$$ and pips plus I have my trading plan, aka PLAN A, in position as always.\r\n\r\nLast week’s main piece in the blog when I talked about Draghi either putting up or resigning created quite a few comments, and, they were equally split 50-50 on whether he should stay or he should go. You can now just imagine the next ECB Press Conference…the scene is set…dry ice and Mario Draghi enters to The Clash pumping out “Should I stay or should I go”. OK… maybe not.\r\n\r\nWe have the ECB Bank stress results being published on Sunday 26<sup>th</sup> October (tomorrow). By the time this blog is posted to the website, there will no doubt be rumour and counter-rumour about the results leaked to the press and the numerous European TV stations. I think the main takeaway from this round of European stress tests is that some banks will have to fail, if it is just to see the ECB receive some credibility. Previous stress tests have been in a word lame.\r\n\r\nLooking forward, the FED statement and NZD interest rate announcement and RBNZ rate statement are the two news items that stand out, in my opinion.\r\n\r\nI feel turbulence in the markets on the horizon and the FED moves will be very influential on how the end of the year plays out. If it is not the way I want… then PLAN B will be rolled out immediately.\r\n\r\n<strong> </strong>\r\n<ol start=\"2\">\r\n	<li><strong><span style=\"font-size: 14pt;\"> THE PREMIUM SERVICE: </span></strong></li>\r\n</ol>\r\n<p style=\"text-align: center;\"><span style=\"font-size: 12pt;\"><strong>OVERVIEW, TRADING ACTIVITY, NEWS UPDATE &amp; MONTHLY AND\r\n</strong><strong>YEAR TO DATE TRADING SUMMARIES:</strong></span></p>\r\n<span style=\"text-decoration: underline;\">2.1 OVERVIEW:</span>\r\n\r\nFor 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 the page there are three drop down menus: PREMIUM SERVICE, SIGN-UP and DISCLAIMER. Further details and how to join are all contained there. You will need at PayPal account to subscribe.\r\n\r\n<span style=\"text-decoration: underline;\">2.2 TRADING ACTIVITY:</span>\r\n\r\nI had an excellent week of trading. Only one loss producing trade and my core-position trades started to come back in line with my original direction. Last week I had 3 longer-term trades hedged; this week only 1. My maximum loss is limited to 70 pips. This is well within my RISK TOLERANCE level.\r\n\r\n(Further details on HEDGING, RISK TOLERANCE and RISK MANAGEMENT can be found inside the PREMIUM SERVICE under TRADING ESSENTIALS)\r\n\r\nThere were some great directional trades in the past 5 days that I was able to take advantage of with some excellent multi-lot position sized trades.\r\n\r\nMy “PLAN A” trade plan is in play and subscribers to the PREMIUM SERVICE are aware of my aims/goals with this moving forward. I see many thousands of pips available if this plan plays out.\r\n\r\n<span style=\"text-decoration: underline;\">2.3 MONTHLY AND YEAR TO DATE TRADING SUMMARIES<strong>:</strong></span>\r\n\r\nBelow I show the up to date performances for my various trading styles. Full excel spreadsheets are in the subscriber area of the PREMIUM SERVICE website\r\n\r\nBelow are the excel spreadsheets covering this month so far and the year 2014 to date.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/10/PREM-SERV-PROFITS1-25102014.png\"><img class=\"aligncenter size-full wp-image-4626\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/10/PREM-SERV-PROFITS1-25102014.png\" alt=\"PREM SERV PROFITS1 25102014\" width=\"463\" height=\"429\" /></a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/10/PREM-SERV-PROFITS2-25102014.png\"><img class=\"aligncenter size-full wp-image-4627\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/10/PREM-SERV-PROFITS2-25102014.png\" alt=\"PREM SERV PROFITS2 25102014\" width=\"463\" height=\"427\" /></a>\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">PLEASE NOTE:</span>\r\n\r\nThe above examples in sections 2.2 and 2.3 are for illustration purposes only. The profitability examples detailed above are based solely upon single lot trading, regardless of lot type. If multiple lot sizes are traded the profitability margins will be different than those shown.\r\n\r\nJust to provide more information so you understand where I am coming from with the risk / reward statements above. All of my trades are of different sizes and different size lot types. The above does not reflect the actual trading performance, but it does show you the direction of the performance of the trades placed. I like to add to trades, profits are taken as the trade progresses and my overall cost average moves several times. All of my trades are of different lot styles. I trade a mixture of micro lots, mini lots and standard lots across my brokers.\r\n\r\nThe above results simply display your profit or loss if you placed a single lot trade on all the set-ups suggested and did nothing else.\r\n\r\nYou must always remember to follow properly executed RISK MANAGEMENT and POSITION SIZING disciplines with all your trades and remember that Forex trading with a high degree of leverage can significantly increase your profits and losses. You should trade with a TRADE PLAN and NOT risk monies that you cannot afford to lose.\r\n\r\n<strong> </strong>\r\n<ol start=\"3\">\r\n	<li><span style=\"font-size: 14pt;\"><strong> THE FUNDAMENTAL TRADERS OVERVIEW:</strong></span></li>\r\n</ol>\r\n<p style=\"text-align: center;\"><strong><span style=\"font-size: 12pt;\">THE FED IN CONTROL OF POLICY</span>\r\n<span style=\"font-size: 12pt;\"> whilst</span>\r\n<span style=\"font-size: 12pt;\"> THE ECB HOLDS A CAN IN WAITING</span></strong></p>\r\n&nbsp;\r\n\r\nAfter two weeks of some great volatility in the Forex markets, we have now slowed just a little as traders look ahead on their calendars. Another FED event looms and as usual we seem to be driven by the vocabulary that will utilised in the press statement.\r\n\r\nWe have in my opinion two main factors that need to be addresses either by the FED or will be addressed as a result of FED action.\r\n<ol>\r\n	<li>The end of Quantitative Easing (QE).Thisshould be confirmed.If itis confirmed: I think that the USD will strengthen a little.If it is delayed for whatever reason: There will be the rally beyond all rallies in the USD. The DXY will fall through support at 85.13.\r\n(SEE CHART BELOW).\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/10/DXY-25102014.png\"><img class=\"aligncenter size-large wp-image-4625\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/10/DXY-25102014-1024x569.png\" alt=\"DXY 25102014\" width=\"1024\" height=\"569\" /></a></li>\r\n	<li>A commentary on when interest rates will be rising.Recently, we have heard different FED members voice their opinions on the future interest rate policy of the FED. It is a mixed bag of delay orimplement early 2015. JanetYellen has tried to move away from specific economic data guidelines that were in place via her predecessor Ben Bernanke. She is a firm “Dove” in all her approaches and statements that she has made. Her language is one of “long after”…. Nothing will be immediate. If she continuesto bedovish, one has to questionthe relevance of the U.S. economic data presented to us. If she doesn’t see it at positive…. why are the markets reacting to positive data?Should the Fed release wording in the statement that pushes out the date of interest rate rises beyond the early expected 2015 date, the dollar will weaken. If the Fed also states that QE is NOT ending this month the markets will go wild. Does she want this? I think not.</li>\r\n</ol>\r\nOn the flip side to the FED announcement is the reaction in the markets. But apart from the markets reaction, over the hours following the FED statement we should consider the reaction from the ECB.\r\n\r\nShould the FED delay the end of QE and push out interest rate increases I think the ECB would go into meltdown, as the EUR/USD will be heading to 1.3000 again. Then we enter a battle of the central banks… the FED versus the ECB.\r\n\r\nThe ECB reaction would be very interesting indeed, Draghi has already appealed for governments to pull together and work with ECB policy to push for growth. The mere fact that he has to come out and state this says it all as far as I am concerned.\r\n\r\nDraghi has no agreement with Germany over buying ABS and therefore is trying to have something for the next ECB meeting. Last week one ECB official came out and said it was unrealistic for the markets to expect some major initiative from the ECB at every press conference. The scene is being set and “the can” has been bought, they just need to decide what road to kick it down.\r\n\r\nIf the FED action results in USD weakness and the EUR jumps towards 1.3000, it would be a great long from present levels then short trade. However, it could spark a knee-jerk reaction from Berlin, who would, in many eyes be held responsible for the lack of activity so far in agreeing to loosen monetary policy to stimulate EUROZONE growth.\r\n\r\nLet me just slow down a little…. A knee-jerk reaction from Berlin could be March 2015. They would send Draghi out to talk about it for a few months first, hoping that they would not need to do anything and that we would all have forgotten about it.\r\n\r\nIt will be an interesting Wednesday through to Friday next week and then we have the ECB press conference the week after.\r\n\r\n&nbsp;\r\n<ol start=\"4\">\r\n	<li><span style=\"font-size: 14pt;\"><strong> TRADER TOPICS:</strong></span><strong> </strong></li>\r\n</ol>\r\n<p style=\"text-align: center;\"><span style=\"font-size: 12pt;\"><strong>IDEAS TO BATTLE UNCERTAINTY IN FOREX TRADING:</strong></span></p>\r\nWithout stating the obvious, Forex Trading is probably one of the most challenging markets to master. It is alive 24 hours a day and it can be very irrational at times. It can also be so unpredictable going from docile to volatile and back again in an instant.\r\n\r\nLooking at the volatility and uncertainties that we as traders live with day in and day out we have to look at ways to deal with the volatile environment that we work within.\r\n\r\nAs the global economy faces the possibility of slowing down once again and as the political leaders struggle amongst each other to resolve geopolitical events, what can we do to prevent uncertainty from crippling us with fear\r\n\r\nFrom my perspective after 7 years trading, battling uncertainty and getting beyond any fears that I may have requires two simple things:\r\n\r\n<span style=\"text-decoration: underline;\">ACCEPTANCE:</span>\r\n\r\nRemember this quote “No matter how hard you work, you can still be wrong” (Ray Dalio Bridgewater Associates).\r\n\r\nThere is NO Holy Grail, perfect pill to trading.\r\n\r\nIf you have it in your mind that your analysis skills will be so good or that you’ll find that perfect mathematical formula to building a flawless trading record, guess again! The simple fact is that unless you can see into the future, you will not be able to predict every market move or your automated system (if you have one) won’t be able to factor in every imaginary variable. Yes, you will have losing trades and, if you cannot internalize the principle that no matter what you do you’ll never know everything that’s around the corner, then you will continue to be blind to what’s really going on and be unable to adapt to the ever changing conditions.\r\n\r\nEveryone is different, so the catalyst for a paradigm shift to acceptance may come at different moments for each of us. But you can bet that it is usually doesn’t come until after a lot of trades and experience.\r\n\r\n<span style=\"text-decoration: underline;\">PREPARATION:</span>\r\n\r\nThe second step of reducing risk of the unknown is to be prepared. Serious business requires serious planning.\r\n\r\nTrading is serious business. Whilst unpredictable factors will always be present, uncertainty can be significantly reduced through proper preparation. Taking time to study and control what you can (e.g. being aware of sentiment and upcoming news, considering all possible market reactions, controlling risk) reduces much of the uncertainty, because you have identified and planned for the “worst case” scenario. If you already know the outcome of your trade regardless if the market goes up, down or sideways, then how can you be afraid?\r\n\r\nAcceptance and preparation sound like no-brainer solutions to overcoming the emotions created by facing the unknown, but of course, it’s easier said than done. The former may go against a belief system already deeply internalized in all of us: there is a logical reason for everything. Therefore we think “If I work hard and find the reasons that moved the market, I can use it as a competitive edge”. Please bear in mind, and I am sure that you have experienced this; the markets can be illogical and stay illogical longer than you can stay solvent, (Hence sometimes I hedge trades).\r\n\r\nPreparation requires flat out work. You have to put in chart analysis time. You have to do a fair amount of economic reading. You obviously have to do a great deal of your system research and testing to be prepared for whatever the market will throw at you day in and day out.\r\n\r\nIf you achieve longevity in Forex Trading, experience will shadow uncertainty.\r\n\r\nJust keep your head up when you take a hit, focus on probabilities in trading and the good habits you have and soon uncertainty will be something in the past.\r\n\r\n<strong> </strong>\r\n<ol start=\"5\">\r\n	<li><span style=\"font-size: 14pt;\"><strong> MY CURRENT LIVE TRADES:</strong></span></li>\r\n</ol>\r\n&nbsp;\r\n\r\n<strong>RADAR TRADES:</strong><strong> </strong>\r\n\r\nThere are no LIVE RADAR trades at the present time.\r\n\r\n<strong>FLASH TRADES:</strong>\r\n\r\nFT1190\r\nNZD/USD\r\nShort\r\nCost Average at: 0.7793\r\nStop at 0.7930\r\nLimit at 0.6580\r\nPresent Price: 0.7845\r\nCurrent Profit / Loss Position: -52 pips\r\n\r\nFT202\r\nUSD/CAD\r\nLong\r\nCost Average at: 1.1340\r\nStop at 1.1170\r\nLimit at 1.1570\r\nPresent Price: 1.1230\r\nCurrent Profit / Loss Position: -110 pips\r\n(This trade is currently hedged from -70 pips)\r\n\r\nFT209\r\nAUD/USD\r\nShort\r\nCost Average: 0.8785\r\nStop at: 0.8850\r\nLimit at: 0.8000\r\nPresent Price: 0.8786\r\nCurrent Profit / Loss Position: -1 pip\r\n\r\n<strong>FUNDAMENTAL TRADES:</strong>\r\n\r\nFUN44\r\nGBP/NZD\r\nLong\r\nCost Average at: 2.0507\r\nStop at 1.9500\r\nLimit at 2.3200\r\nPresent Price: 2.0479\r\nCurrent Profit / Loss Position: -28 pips\r\n\r\n<strong> </strong><strong> </strong>\r\n<ol start=\"6\">\r\n	<li><span style=\"font-size: 14pt;\"><strong> TRADES THAT ARE ON MY RADAR:</strong></span></li>\r\n</ol>\r\nI have PLAN A in place and I think that I will be adding to core PLAN A trades only after the FED statement. In the interim I will be day trading and if those trades develop into swing trades all well and good.\r\n\r\nI will NOT look at adding commodity cross-rates until after the FED.\r\n\r\nNone of the trades below are loaded with my brokers yet. The reasons are: -\r\n<ol>\r\n	<li>European Bank Stress Tests fallout.</li>\r\n	<li>ISIS</li>\r\n	<li>EBOLA</li>\r\n</ol>\r\nAll of the trade suggested set-ups below are very simple straightforward probability trades based upon Fibonacci levels and horizontal support levels. As I have stated many times, trading is about identifying chart patterns and high probability trades. I use Fibonacci and pivot points for comfort most of the time as they do work.\r\n\r\nEUR/USD\r\nSHORT\r\nENTRY AT 1.2715\r\nSTOP AT 1.2765\r\nLIMIT 1.2600\r\n\r\n<strong> <a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/10/EURUSD-240M-25102014.png\"><img class=\"aligncenter size-large wp-image-4619\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/10/EURUSD-240M-25102014-1024x518.png\" alt=\"EURUSD 240M 25102014\" width=\"1024\" height=\"518\" /></a></strong>\r\n\r\n&nbsp;\r\n\r\nGBP/USD\r\nSHORT\r\nENTRY AT 1.6110\r\nSTOP AT 1.6190\r\nLIMIT 1.5995\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/10/GBPUSD-240M-25102014.png\"><img class=\"aligncenter size-large wp-image-4618\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/10/GBPUSD-240M-25102014-1024x518.png\" alt=\"GBPUSD 240M 25102014\" width=\"1024\" height=\"518\" /></a><a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/10/GBPUSD-240M-25102014.png\">\r\n</a>\r\n\r\n&nbsp;\r\n\r\nNZD/USD\r\nSHORT\r\nENTRY AT 0.7880\r\nSTOP AT 0.7970\r\nLIMIT 0.7790\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/10/NZDUSD-240M-25102014.png\"><img class=\"aligncenter size-large wp-image-4617\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/10/NZDUSD-240M-25102014-1024x518.png\" alt=\"NZDUSD 240M 25102014\" width=\"1024\" height=\"518\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\nUSD/CHF\r\nLONG\r\nENTRY FROM 0.9480\r\nSTOP AT 0.9430\r\nLIMIT 0.9560\r\n\r\n<strong> <a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/10/USDCHF-240M-25102014.png\"><img class=\"aligncenter size-large wp-image-4616\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/10/USDCHF-240M-25102014-1024x518.png\" alt=\"USDCHF 240M 25102014\" width=\"1024\" height=\"518\" /></a></strong>\r\n\r\n<strong> </strong><strong> </strong>\r\n\r\nI will obviously add via twitter and THE DAILY FX POST additional trades as I see them<strong>.</strong>\r\n\r\n<strong> </strong><strong> </strong>\r\n<ol start=\"7\">\r\n	<li><span style=\"font-size: 14pt;\"><strong> LOOKING FORWARD…THE KEY SUPPORT &amp; RESISTANCE LEVELS WITH THE USD MAJORS:</strong></span></li>\r\n</ol>\r\n<strong>EUR/USD: Closing Price 1.2670.</strong> We have seen a small drop in price in the past week. There are many news items ahead that will move price with this pair. Whilst the longer-term sentiment is bearish it will be a tough call on what to do with this pair in the short-term. My ultimate belief is that we are heading sub 1.2000, and, I believe that the FED will help the ECB achieve this through rate increases in the U.S. Support is very strong at 1.2600. I have this feeling we head higher first. There are so many great entry points higher for short trades back in the direction of the longer-term trend. Resistance is good at 1.2715 then 1.2765.\r\n\r\n<strong>GBP/USD: Closing Price 1.6088</strong>. After all the shenanigans we end this week almost exactly where we closed the week before. I had a GBP/USD short trade last week and took a mere 20 pips profit from it. The cable was just not moving/acting correctly and I took the trade off the table… a good decision. We are range bound with this pair like so many others so it is set up for range trading for day traders. 1.6000 is great support and 1.6125 is good resistance.<strong> </strong>\r\n\r\n<strong>AUD/USD: Closing Price 0.8786</strong>. I am confused by the price action with the Aussie. I was expecting a continuation of the fall in value. Instead, we have witnessed a false breakdown lower. I am not certain if this is the case but the price action has surprised me. Support is good at 0.8700 and resistance at 0.8850 and if broken will change my thoughts on how to approach these markets going forward.\r\n\r\n<strong>NZD/USD: Closing Price 0.7845</strong>. The RBNZ must be pleased with the move lower in this currency pair. Also, during the week inflation data showed that there were no inflation concerns in the New Zealand economy therefore calls for further interest rate hikes should now be muted. Therefore, when Graeme Wheeler RBNZ Bank Governor releases his commentary to go with the interest rate decision this Wednesday, he has the ideal opportunity to state that the exchange rate is still too high and that he will continue to intervene in the currency markets. This should send the NZD/USD lower and my GBP/NZD higher…. if he does this he will be on my Christmas card list. Support for now is at 0.7795 and resistance is huge at 0.7995.\r\n\r\n<strong>USD/CAD: Closing Price 1.1230.</strong> Why do I continue to trade the “Loonie?” I seem to have one great trade that blurs my vision and 4 bad trades to follow. I am currently long this pair but my trade is hedged to just a 70 pip loss. Personally, I want to see OIL at $70.00 a barrel very quickly. That would place this pair around 1.1600, I would make a ton of $$$... then I can close the trade. Unfortunately, it is struggling to move past 1.1250! I think that sentiment hasn’t changed despite the best efforts of Stephen Poloz, the governor at the BOC, who released a fairy tale last Wednesday aka the official BOC Monetary Policy Report. Support is at 1.1170 and resistance is 1.1300.\r\n\r\n<strong>USD/CHF: Closing Price 0.9518</strong>. This pair is well supported at 0.9400. It has bounced off this level at least 4 times in the past two/three weeks. Support looking into the next few sessions is at 0.9480 and resistance at 0.9560.\r\n\r\n<strong>USD/JPY: Closing Price 108.16. </strong>I am tired of looking at USD/JPY charts and trying to figure out what is the right thing to do… so I do nothing. We have moved up 100+ pips in the past week, but at the back of my mind I have this feeling that it will play the party line and rollover with equities when equities decide to correct properly; hence all my indecision. Looking forward I see 107.50 as good support and 108.65 as good resistance.\r\n\r\n&nbsp;\r\n<ol start=\"8\">\r\n	<li><span style=\"font-size: 14pt;\"><strong> MAJOR TRADING PAIRS WITH LONGER-TERM TRENDS MATCHING:</strong></span></li>\r\n</ol>\r\nThe following currency pairs have Short Term (DAILY), Medium Term (WEEKLY) and Long Term (MONTHLY) charts all trending in the same direction.\r\n\r\n<span style=\"text-decoration: underline;\">LONG:</span>\r\n\r\nUSD/CAD – why is it not motoring?\r\nUSD/JPY\r\nGBP/CHF\r\nAUD/NZD\r\nUSD/DKK\r\nEUR/NOK\r\nEUR/SEK\r\n\r\n<span style=\"text-decoration: underline;\">SHORT:</span>\r\n\r\nNZD/USD\r\nEUR/GBP\r\nEUR/AUD\r\nEUR/CHF\r\n<ol start=\"9\">\r\n	<li><span style=\"font-size: 14pt;\"><strong> MAJOR FOREX NEWS THIS WEEK THAT INTERESTS ME:</strong></span><strong> </strong></li>\r\n</ol>\r\nSUNDAY: EUR – European Bank Stress Tests.\r\n\r\nMONDAY: EUR – German IFO Business Climate.\r\n\r\nTUESDAY: USD – Core Durable Goods.\r\nTUESDAY: NZD – ANZ Business Confidence.\r\n\r\nWEDNESDAY: USD – FOMC Statement and Fed Funds Rate\r\nWEDNESDAY: NZD – Interest Rate and RBNZ Rate Statement.\r\nWEDNESDAY: AUD – RBA Economic and Fiscal Outlook.\r\n\r\nTHURSDAY: EUR – German CPi.\r\nTHURSDAY: USD – GDP.\r\nTHURSDAY: AUD – PPi.\r\n\r\nFRIDAY: EUR – CPI estimate.\r\nFRIDAY: CAD - GDP.\r\n\r\n<strong> </strong>\r\n\r\n<strong> </strong><strong style=\"font-size: 14pt;\">FINAL THOUGHTS:</strong>\r\n\r\nThis is a big week for us.\r\n\r\nPersonally my PLAN A will be under scrutiny if the FED weakens the USD beyond the point of no return. Right now there is trend line support at 85.13 on the DXY, there is some leeway in my number but 84.75 on the DXY and I will be on PLAN B. My hope if that I can get long the USD across the board at 85.13 on the DXY.\r\n\r\nMy plan A aside, the FED FOMC statement, ECB Bank Stress Results, ECB - QE with it’s on or off leaks, rumours and denials that go hand in hand with EUROZONE normal business gives us enough to send the USD to hell or heaven within minutes.\r\n\r\nTherefore, my suggestion is to trade smaller position sizes so as to avoid being caught the wrong side of a trade and incur big losses.\r\n\r\nIs the market still directional?\r\n\r\nIn the near future I believe that it will be, but for now we are consolidating. If the FED really moves the market one-way or the other, with a very one-sided statement, that could change. There are overriding factors why the USD (DXY) should strengthen but that doesn’t mean that it has to.\r\n\r\nFrom a trading perspective we should therefore, given the uncertainty and volatility, trade with smaller position sizes and wider stops.\r\n\r\nJust remember; always use the RISK MANAGEMENT principles outlined in the PREMIUM SERVICE web site TRADING ESSENTIALS section to ensure that you do not over-stretch your Forex account. Longevity in the Forex market is only achieved through strong TRADING DISCIPLINES that include effective and strategic POSITION SIZING.\r\n\r\nGood Luck.\r\n\r\nScott Pickering\r\nThe Pip Accumulator\r\nSaturday October 25th 2014\r\n\r\nEMAIL / FOLLOW ME AT:\r\npremiumservice@weeklyfxdrivethru.com\r\nTwitter: @pipaccumulator\r\nTwitter: @ThePremService\r\nGoogle+/scottpickering\r\n\r\n<strong>DISCLAIMER:</strong>\r\n\r\nFLASH, 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.','THE FED IN CONTROL OF POLICY whilst THE ECB HOLDS A CAN IN WAITING ','','publish','open','closed','','fed-control-policy-whilst-ecb-holds-can-waiting','','','2014-10-25 05:06:27','2014-10-25 10:06:27','',0,'https://weeklyfxdrivethru.com/?post_type=member_posts&#038;p=4630',0,'member_posts','',0),(4631,1,'2014-10-25 05:04:03','2014-10-25 10:04:03','<strong> </strong>\r\n<ol>\r\n	<li><span style=\"font-size: 14pt;\"><strong> INTRODUCTION:</strong></span></li>\r\n</ol>\r\nI had a great trading week, only one loss making trade, plenty of $$$ and pips plus I have my trading plan, aka PLAN A, in position as always.\r\n\r\nLast week’s main piece in the blog when I talked about Draghi either putting up or resigning created quite a few comments, and, they were equally split 50-50 on whether he should stay or he should go. You can now just imagine the next ECB Press Conference…the scene is set…dry ice and Mario Draghi enters to The Clash pumping out “Should I stay or should I go”. OK… maybe not.\r\n\r\nWe have the ECB Bank stress results being published on Sunday 26<sup>th</sup> October (tomorrow). By the time this blog is posted to the website, there will no doubt be rumour and counter-rumour about the results leaked to the press and the numerous European TV stations. I think the main takeaway from this round of European stress tests is that some banks will have to fail, if it is just to see the ECB receive some credibility. Previous stress tests have been in a word lame.\r\n\r\nLooking forward, the FED statement and NZD interest rate announcement and RBNZ rate statement are the two news items that stand out, in my opinion.\r\n\r\nI feel turbulence in the markets on the horizon and the FED moves will be very influential on how the end of the year plays out. If it is not the way I want… then PLAN B will be rolled out immediately.\r\n\r\n<strong> </strong>\r\n<ol start=\"2\">\r\n	<li><strong><span style=\"font-size: 14pt;\"> THE PREMIUM SERVICE: </span>\r\n\r\n</strong></li>\r\n</ol>\r\n<p style=\"text-align: center;\"><span style=\"font-size: 12pt;\"><strong>OVERVIEW, TRADING ACTIVITY, NEWS UPDATE &amp; MONTHLY AND\r\n</strong><strong>YEAR TO DATE TRADING SUMMARIES:</strong></span></p>\r\n<span style=\"text-decoration: underline;\">2.1 OVERVIEW:</span>\r\n\r\nFor 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 the page there are three drop down menus: PREMIUM SERVICE, SIGN-UP and DISCLAIMER. Further details and how to join are all contained there. You will need at PayPal account to subscribe.\r\n\r\n<span style=\"text-decoration: underline;\">2.2 TRADING ACTIVITY:</span>\r\n\r\nI had an excellent week of trading. Only one loss producing trade and my core-position trades started to come back in line with my original direction. Last week I had 3 longer-term trades hedged; this week only 2. My maximum loss is limited to 170 pips. This is well within my RISK TOLERANCE level.\r\n\r\n(Further details on HEDGING, RISK TOLERANCE and RISK MANAGEMENT can be found inside the PREMIUM SERVICE under TRADING ESSENTIALS)\r\n\r\nThere were some great directional trades in the past 5 days that I was able to take advantage of with some excellent multi-lot position sized trades.\r\n\r\nMy “PLAN A” trade plan is in play and subscribers to the PREMIUM SERVICE are aware of my aims/goals with this moving forward. I see many thousands of pips available if this plan plays out.\r\n\r\n<span style=\"text-decoration: underline;\">2.3 MONTHLY AND YEAR TO DATE TRADING SUMMARIES<strong>:</strong></span>\r\n\r\nBelow I show the up to date performances for my various trading styles. Full excel spreadsheets are in the subscriber area of the PREMIUM SERVICE website\r\n\r\nBelow are the excel spreadsheets covering this month so far and the year 2014 to date.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/10/PREM-SERV-PROFITS1-25102014.png\"><img class=\"aligncenter size-full wp-image-4626\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/10/PREM-SERV-PROFITS1-25102014.png\" alt=\"PREM SERV PROFITS1 25102014\" width=\"463\" height=\"429\" /></a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/10/PREM-SERV-PROFITS2-25102014.png\"><img class=\"aligncenter size-full wp-image-4627\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/10/PREM-SERV-PROFITS2-25102014.png\" alt=\"PREM SERV PROFITS2 25102014\" width=\"463\" height=\"427\" /></a>\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">PLEASE NOTE:</span>\r\n\r\nThe above examples in sections 2.2 and 2.3 are for illustration purposes only. The profitability examples detailed above are based solely upon single lot trading, regardless of lot type. If multiple lot sizes are traded the profitability margins will be different than those shown.\r\n\r\nJust to provide more information so you understand where I am coming from with the risk / reward statements above. All of my trades are of different sizes and different size lot types. The above does not reflect the actual trading performance, but it does show you the direction of the performance of the trades placed. I like to add to trades, profits are taken as the trade progresses and my overall cost average moves several times. All of my trades are of different lot styles. I trade a mixture of micro lots, mini lots and standard lots across my brokers.\r\n\r\nThe above results simply display your profit or loss if you placed a single lot trade on all the set-ups suggested and did nothing else.\r\n\r\nYou must always remember to follow properly executed RISK MANAGEMENT and POSITION SIZING disciplines with all your trades and remember that Forex trading with a high degree of leverage can significantly increase your profits and losses. You should trade with a TRADE PLAN and NOT risk monies that you cannot afford to lose.\r\n\r\n<strong> </strong>\r\n<ol start=\"3\">\r\n	<li><span style=\"font-size: 14pt;\"><strong> THE FUNDAMENTAL TRADERS OVERVIEW:</strong></span></li>\r\n</ol>\r\n<p style=\"text-align: center;\"><strong><span style=\"font-size: 12pt;\">THE FED IN CONTROL OF POLICY</span>\r\n<span style=\"font-size: 12pt;\"> whilst</span>\r\n<span style=\"font-size: 12pt;\"> THE ECB HOLDS A CAN IN WAITING</span>\r\n\r\n</strong></p>\r\nAfter two weeks of some great volatility in the Forex markets, we have now slowed just a little as traders look ahead on their calendars. Another FED event looms and as usual we seem to be driven by the vocabulary that will utilised in the press statement.\r\n\r\nWe have in my opinion two main factors that need to be addresses either by the FED or will be addressed as a result of FED action.\r\n<ol>\r\n	<li>The end of Quantitative Easing (QE). This should be confirmed.\r\n\r\nIf it is confirmed: I think that the USD will strengthen a little.\r\n\r\nIf it is delayed for whatever reason: There will be the rally beyond all rallies in the USD. The DXY will fall through support at 85.13.\r\n(SEE CHART BELOW).\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/10/DXY-25102014.png\"><img class=\"aligncenter size-large wp-image-4625\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/10/DXY-25102014-1024x569.png\" alt=\"DXY 25102014\" width=\"1024\" height=\"569\" /></a></li>\r\n	<li>A commentary on when interest rates will be rising.\r\n\r\nRecently, we have heard different FED members voice their opinions on the future interest rate policy of the FED. It is a mixed bag of delay or implement early 2015. Janet Yellen has tried to move away from specific economic data guidelines that were in place via her predecessor Ben Bernanke. She is a firm “Dove” in all her approaches and statements that she has made. Her language is one of “long after”…. Nothing will be immediate. If she continues to be dovish, one has to question the relevance of the U.S. economic data presented to us. If she doesn’t see it at positive…. why are the markets reacting to positive data?\r\n\r\nShould the Fed release wording in the statement that pushes out the date of interest rate rises beyond the early expected 2015 date, the dollar will weaken. If the Fed also states that QE is NOT ending this month the markets will go wild. Does she want this? I think not.</li>\r\n</ol>\r\nOn the flip side to the FED announcement is the reaction in the markets. But apart from the markets reaction, over the hours following the FED statement we should consider the reaction from the ECB.\r\n\r\nShould the FED delay the end of QE and push out interest rate increases I think the ECB would go into meltdown, as the EUR/USD will be heading to 1.3000 again. Then we enter a battle of the central banks… the FED versus the ECB.\r\n\r\nThe ECB reaction would be very interesting indeed, Draghi has already appealed for governments to pull together and work with ECB policy to push for growth. The mere fact that he has to come out and state this says it all as far as I am concerned.\r\n\r\nDraghi has no agreement with Germany over buying ABS and therefore is trying to have something for the next ECB meeting. Last week one ECB official came out and said it was unrealistic for the markets to expect some major initiative from the ECB at every press conference. The scene is being set and “the can” has been bought, they just need to decide what road to kick it down.\r\n\r\nIf the FED action results in USD weakness and the EUR jumps towards 1.3000, it would be a great long from present levels then short trade. However, it could spark a knee-jerk reaction from Berlin, who would, in many eyes be held responsible for the lack of activity so far in agreeing to loosen monetary policy to stimulate EUROZONE growth.\r\n\r\nLet me just slow down a little…. A knee-jerk reaction from Berlin could be March 2015. They would send Draghi out to talk about it for a few months first, hoping that they would not need to do anything and that we would all have forgotten about it.\r\n\r\nIt will be an interesting Wednesday through to Friday next week and then we have the ECB press conference the week after.\r\n\r\n&nbsp;\r\n<ol start=\"4\">\r\n	<li><span style=\"font-size: 14pt;\"><strong> TRADER TOPICS:</strong></span><strong> </strong></li>\r\n</ol>\r\n<p style=\"text-align: center;\"><span style=\"font-size: 12pt;\"><strong>IDEAS TO BATTLE UNCERTAINTY IN FOREX TRADING:</strong></span></p>\r\nWithout stating the obvious, Forex Trading is probably one of the most challenging markets to master. It is alive 24 hours a day and it can be very irrational at times. It can also be so unpredictable going from docile to volatile and back again in an instant.\r\n\r\nLooking at the volatility and uncertainties that we as traders live with day in and day out we have to look at ways to deal with the volatile environment that we work within.\r\n\r\nAs the global economy faces the possibility of slowing down once again and as the political leaders struggle amongst each other to resolve geopolitical events, what can we do to prevent uncertainty from crippling us with fear\r\n\r\nFrom my perspective after 7 years trading, battling uncertainty and getting beyond any fears that I may have requires two simple things:\r\n\r\n<span style=\"text-decoration: underline;\">ACCEPTANCE:</span>\r\n\r\nRemember this quote “No matter how hard you work, you can still be wrong” (Ray Dalio Bridgewater Associates).\r\n\r\nThere is NO Holy Grail, perfect pill to trading.\r\n\r\nIf you have it in your mind that your analysis skills will be so good or that you’ll find that perfect mathematical formula to building a flawless trading record, guess again! The simple fact is that unless you can see into the future, you will not be able to predict every market move or your automated system (if you have one) won’t be able to factor in every imaginary variable. Yes, you will have losing trades and, if you cannot internalize the principle that no matter what you do you’ll never know everything that’s around the corner, then you will continue to be blind to what’s really going on and be unable to adapt to the ever changing conditions.\r\n\r\nEveryone is different, so the catalyst for a paradigm shift to acceptance may come at different moments for each of us. But you can bet that it is usually doesn’t come until after a lot of trades and experience.\r\n\r\n<span style=\"text-decoration: underline;\">PREPARATION:</span>\r\n\r\nThe second step of reducing risk of the unknown is to be prepared. Serious business requires serious planning.\r\n\r\nTrading is serious business. Whilst unpredictable factors will always be present, uncertainty can be significantly reduced through proper preparation. Taking time to study and control what you can (e.g. being aware of sentiment and upcoming news, considering all possible market reactions, controlling risk) reduces much of the uncertainty, because you have identified and planned for the “worst case” scenario. If you already know the outcome of your trade regardless if the market goes up, down or sideways, then how can you be afraid?\r\n\r\nAcceptance and preparation sound like no-brainer solutions to overcoming the emotions created by facing the unknown, but of course, it’s easier said than done. The former may go against a belief system already deeply internalized in all of us: there is a logical reason for everything. Therefore we think “If I work hard and find the reasons that moved the market, I can use it as a competitive edge”. Please bear in mind, and I am sure that you have experienced this; the markets can be illogical and stay illogical longer than you can stay solvent, (Hence sometimes I hedge trades).\r\n\r\nPreparation requires flat out work. You have to put in chart analysis time. You have to do a fair amount of economic reading. You obviously have to do a great deal of your system research and testing to be prepared for whatever the market will throw at you day in and day out.\r\n\r\nIf you achieve longevity in Forex Trading, experience will shadow uncertainty.\r\n\r\nJust keep your head up when you take a hit, focus on probabilities in trading and the good habits you have and soon uncertainty will be something in the past.\r\n\r\n<strong> </strong>\r\n<ol start=\"5\">\r\n	<li><span style=\"font-size: 14pt;\"><strong> MY CURRENT LIVE TRADES:</strong></span></li>\r\n</ol>\r\n&nbsp;\r\n\r\n<strong>RADAR TRADES:</strong><strong> </strong>\r\n\r\nThere are no LIVE RADAR trades at the present time.\r\n\r\n<strong>FLASH TRADES:</strong>\r\n\r\nFT1190\r\nNZD/USD\r\nShort\r\nCost Average at: 0.7793\r\nStop at 0.7930\r\nLimit at 0.6580\r\nPresent Price: 0.7845\r\nCurrent Profit / Loss Position: -52 pips\r\n\r\nFT202\r\nUSD/CAD\r\nLong\r\nCost Average at: 1.1340\r\nStop at 1.1170\r\nLimit at 1.1570\r\nPresent Price: 1.1230\r\nCurrent Profit / Loss Position: -110 pips\r\n(This trade is currently hedged from -70 pips)\r\n\r\nFT209\r\nAUD/USD\r\nShort\r\nCost Average: 0.8785\r\nStop at: 0.8850\r\nLimit at: 0.8000\r\nPresent Price: 0.8786\r\nCurrent Profit / Loss Position: -1 pip\r\n\r\n<strong>FUNDAMENTAL TRADES:</strong>\r\n\r\nFUN44\r\nGBP/NZD\r\nLong\r\nCost Average at: 2.0507\r\nStop at 1.9500\r\nLimit at 2.3200\r\nPresent Price: 2.0479\r\nCurrent Profit / Loss Position: -28 pips\r\n\r\n<strong> </strong><strong> </strong>\r\n<ol start=\"6\">\r\n	<li><span style=\"font-size: 14pt;\"><strong> TRADES THAT ARE ON MY RADAR:</strong></span></li>\r\n</ol>\r\nI have PLAN A in place and I think that I will be adding to core PLAN A trades only after the FED statement. In the interim I will be day trading and if those trades develop into swing trades all well and good.\r\n\r\nI will NOT look at adding commodity cross-rates until after the FED.\r\n\r\nNone of the trades below are loaded with my brokers yet. The reasons are: -\r\n<ol>\r\n	<li>European Bank Stress Tests fallout.</li>\r\n	<li>ISIS</li>\r\n	<li>EBOLA</li>\r\n</ol>\r\nAll of the trade suggested set-ups below are very simple straightforward probability trades based upon Fibonacci levels and horizontal support levels. As I have stated many times, trading is about identifying chart patterns and high probability trades. I use Fibonacci and pivot points for comfort most of the time as they do work.\r\n\r\nEUR/USD\r\nSHORT\r\nENTRY AT 1.2715\r\nSTOP AT 1.2765\r\nLIMIT 1.2600\r\n\r\n<strong> <a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/10/EURUSD-240M-25102014.png\"><img class=\"aligncenter size-large wp-image-4619\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/10/EURUSD-240M-25102014-1024x518.png\" alt=\"EURUSD 240M 25102014\" width=\"1024\" height=\"518\" /></a></strong>\r\n\r\n&nbsp;\r\n\r\nGBP/USD\r\nSHORT\r\nENTRY AT 1.6110\r\nSTOP AT 1.6190\r\nLIMIT 1.5995\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/10/GBPUSD-240M-25102014.png\"><img class=\"aligncenter size-large wp-image-4618\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/10/GBPUSD-240M-25102014-1024x518.png\" alt=\"GBPUSD 240M 25102014\" width=\"1024\" height=\"518\" /></a><a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/10/GBPUSD-240M-25102014.png\">\r\n</a>\r\n\r\n&nbsp;\r\n\r\nNZD/USD\r\nSHORT\r\nENTRY AT 0.7880\r\nSTOP AT 0.7970\r\nLIMIT 0.7790\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/10/NZDUSD-240M-25102014.png\"><img class=\"aligncenter size-large wp-image-4617\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/10/NZDUSD-240M-25102014-1024x518.png\" alt=\"NZDUSD 240M 25102014\" width=\"1024\" height=\"518\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\nUSD/CHF\r\nLONG\r\nENTRY FROM 0.9480\r\nSTOP AT 0.9430\r\nLIMIT 0.9560\r\n\r\n<strong> <a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/10/USDCHF-240M-25102014.png\"><img class=\"aligncenter size-large wp-image-4616\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/10/USDCHF-240M-25102014-1024x518.png\" alt=\"USDCHF 240M 25102014\" width=\"1024\" height=\"518\" /></a></strong>\r\n\r\n<strong> </strong><strong> </strong>\r\n\r\nI will obviously add via twitter and THE DAILY FX POST additional trades as I see them<strong>.</strong>\r\n\r\n<strong> </strong><strong> </strong>\r\n<ol start=\"7\">\r\n	<li><span style=\"font-size: 14pt;\"><strong> LOOKING FORWARD…THE KEY SUPPORT &amp; RESISTANCE LEVELS WITH THE USD MAJORS:</strong></span></li>\r\n</ol>\r\n<strong>EUR/USD: Closing Price 1.2670.</strong> We have seen a small drop in price in the past week. There are many news items ahead that will move price with this pair. Whilst the longer-term sentiment is bearish it will be a tough call on what to do with this pair in the short-term. My ultimate belief is that we are heading sub 1.2000, and, I believe that the FED will help the ECB achieve this through rate increases in the U.S. Support is very strong at 1.2600. I have this feeling we head higher first. There are so many great entry points higher for short trades back in the direction of the longer-term trend. Resistance is good at 1.2715 then 1.2765.\r\n\r\n<strong>GBP/USD: Closing Price 1.6088</strong>. After all the shenanigans we end this week almost exactly where we closed the week before. I had a GBP/USD short trade last week and took a mere 20 pips profit from it. The cable was just not moving/acting correctly and I took the trade off the table… a good decision. We are range bound with this pair like so many others so it is set up for range trading for day traders. 1.6000 is great support and 1.6125 is good resistance.<strong> </strong>\r\n\r\n<strong>AUD/USD: Closing Price 0.8786</strong>. I am confused by the price action with the Aussie. I was expecting a continuation of the fall in value. Instead, we have witnessed a false breakdown lower. I am not certain if this is the case but the price action has surprised me. Support is good at 0.8700 and resistance at 0.8850 and if broken will change my thoughts on how to approach these markets going forward.\r\n\r\n<strong>NZD/USD: Closing Price 0.7845</strong>. The RBNZ must be pleased with the move lower in this currency pair. Also, during the week inflation data showed that there were no inflation concerns in the New Zealand economy therefore calls for further interest rate hikes should now be muted. Therefore, when Graeme Wheeler RBNZ Bank Governor releases his commentary to go with the interest rate decision this Wednesday, he has the ideal opportunity to state that the exchange rate is still too high and that he will continue to intervene in the currency markets. This should send the NZD/USD lower and my GBP/NZD higher…. if he does this he will be on my Christmas card list. Support for now is at 0.7795 and resistance is huge at 0.7995.\r\n\r\n<strong>USD/CAD: Closing Price 1.1230.</strong> Why do I continue to trade the “Loonie?” I seem to have one great trade that blurs my vision and 4 bad trades to follow. I am currently long this pair but my trade is hedged to just a 70 pip loss. Personally, I want to see OIL at $70.00 a barrel very quickly. That would place this pair around 1.1600, I would make a ton of $$$... then I can close the trade. Unfortunately, it is struggling to move past 1.1250! I think that sentiment hasn’t changed despite the best efforts of Poloz, the governor at the BOC, who released a fairy tale last Wednesday aka the official BOC Monetary Policy Report. Support is at 1.1170 and resistance is 1.1300.\r\n\r\n<strong>USD/CHF: Closing Price 0.9518</strong>. This pair is well supported at 0.9400. It has bounced off this level at least 4 times in the past two/three weeks. Support looking into the next few sessions is at 0.9480 and resistance at 0.9560.\r\n\r\n<strong>USD/JPY: Closing Price 108.16. </strong>I am tired of looking at USD/JPY charts and trying to figure out what is the right thing to do… so I do nothing. We have moved up 100+ pips in the past week, but at the back of my mind I have this feeling that it will play the party line and rollover with equities when equities decide to correct properly; hence all my indecision. Looking forward I see 107.50 as good support and 108.65 as good resistance.\r\n\r\n&nbsp;\r\n<ol start=\"8\">\r\n	<li><span style=\"font-size: 14pt;\"><strong> MAJOR TRADING PAIRS WITH LONGER-TERM TRENDS MATCHING:</strong></span></li>\r\n</ol>\r\nThe following currency pairs have Short Term (DAILY), Medium Term (WEEKLY) and Long Term (MONTHLY) charts all trending in the same direction.\r\n\r\n<span style=\"text-decoration: underline;\">LONG:</span>\r\n\r\nUSD/CAD – why is it not motoring?\r\nUSD/JPY\r\nGBP/CHF\r\nAUD/NZD\r\nUSD/DKK\r\nEUR/NOK\r\nEUR/SEK\r\n\r\n<span style=\"text-decoration: underline;\">SHORT:</span>\r\n\r\nNZD/USD\r\nEUR/GBP\r\nEUR/AUD\r\nEUR/CHF\r\n<ol start=\"9\">\r\n	<li><span style=\"font-size: 14pt;\"><strong> MAJOR FOREX NEWS THIS WEEK THAT INTERESTS ME:</strong></span><strong> </strong></li>\r\n</ol>\r\nSUNDAY: EUR – European Bank Stress Tests.\r\n\r\nMONDAY: EUR – German IFO Business Climate.\r\n\r\nTUESDAY: USD – Core Durable Goods.\r\nTUESDAY: NZD – ANZ Business Confidence.\r\n\r\nWEDNESDAY: USD – FOMC Statement and Fed Funds Rate\r\nWEDNESDAY: NZD – Interest Rate and RBNZ Rate Statement.\r\nWEDNESDAY: AUD – RBA Economic and Fiscal Outlook.\r\n\r\nTHURSDAY: EUR – German CPi.\r\nTHURSDAY: USD – GDP.\r\nTHURSDAY: AUD – PPi.\r\n\r\nFRIDAY: EUR – CPI estimate.\r\nFRIDAY: CAD - GDP.\r\n\r\n<strong> </strong>\r\n\r\n<strong> </strong><strong style=\"font-size: 14pt;\">FINAL THOUGHTS:</strong>\r\n\r\nThis is a big week for us.\r\n\r\nPersonally my PLAN A will be under scrutiny if the FED weakens the USD beyond the point of no return. Right now there is trend line support at 85.13 on the DXY, there is some leeway in my number but 84.75 on the DXY and I will be on PLAN B. My hope if that I can get long the USD across the board at 85.13 on the DXY.\r\n\r\nMy plan A aside, the FED FOMC statement, ECB Bank Stress Results, ECB - QE with it’s on or off leaks, rumours and denials that go hand in hand with EUROZONE normal business gives us enough to send the USD to hell or heaven within minutes.\r\n\r\nTherefore, my suggestion is to trade smaller position sizes so as to avoid being caught the wrong side of a trade and incur big losses.\r\n\r\nIs the market still directional?\r\n\r\nIn the near future I believe that it will be, but for now we are consolidating. If the FED really moves the market one-way or the other, with a very one-sided statement, that could change. There are overriding factors why the USD (DXY) should strengthen but that doesn’t mean that it has to.\r\n\r\nFrom a trading perspective we should therefore, given the uncertainty and volatility, trade with smaller position sizes and wider stops.\r\n\r\nJust remember; always use the RISK MANAGEMENT principles outlined in the PREMIUM SERVICE web site TRADING ESSENTIALS section to ensure that you do not over-stretch your Forex account. Longevity in the Forex market is only achieved through strong TRADING DISCIPLINES that include effective and strategic POSITION SIZING.\r\n\r\nGood Luck.\r\n\r\nScott Pickering\r\nThe Pip Accumulator\r\nSaturday October 25th 2014\r\n\r\nEMAIL / FOLLOW ME AT:\r\npremiumservice@weeklyfxdrivethru.com\r\nTwitter: @pipaccumulator\r\nTwitter: @ThePremService\r\nGoogle+/scottpickering\r\n\r\n<strong>DISCLAIMER:</strong>\r\n\r\nFLASH, 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.','THE FED IN CONTROL OF POLICY whilst THE ECB HOLDS A CAN IN WAITING ','','inherit','open','closed','','4630-revision-v1','','','2014-10-25 05:04:03','2014-10-25 10:04:03','',4630,'https://weeklyfxdrivethru.com/4630-revision-v1/',0,'revision','',0),(4632,1,'2014-10-25 05:06:14','2014-10-25 10:06:14','<strong> </strong>\r\n<ol>\r\n	<li><span style=\"font-size: 14pt;\"><strong> INTRODUCTION:</strong></span></li>\r\n</ol>\r\nI had a great trading week, only one loss making trade, plenty of $$$ and pips plus I have my trading plan, aka PLAN A, in position as always.\r\n\r\nLast week’s main piece in the blog when I talked about Draghi either putting up or resigning created quite a few comments, and, they were equally split 50-50 on whether he should stay or he should go. You can now just imagine the next ECB Press Conference…the scene is set…dry ice and Mario Draghi enters to The Clash pumping out “Should I stay or should I go”. OK… maybe not.\r\n\r\nWe have the ECB Bank stress results being published on Sunday 26<sup>th</sup> October (tomorrow). By the time this blog is posted to the website, there will no doubt be rumour and counter-rumour about the results leaked to the press and the numerous European TV stations. I think the main takeaway from this round of European stress tests is that some banks will have to fail, if it is just to see the ECB receive some credibility. Previous stress tests have been in a word lame.\r\n\r\nLooking forward, the FED statement and NZD interest rate announcement and RBNZ rate statement are the two news items that stand out, in my opinion.\r\n\r\nI feel turbulence in the markets on the horizon and the FED moves will be very influential on how the end of the year plays out. If it is not the way I want… then PLAN B will be rolled out immediately.\r\n\r\n<strong> </strong>\r\n<ol start=\"2\">\r\n	<li><strong></strong><strong><span style=\"font-size: 14pt;\"> THE PREMIUM SERVICE: </span></strong>&nbsp;</li>\r\n</ol>\r\n<p style=\"text-align: center;\"><span style=\"font-size: 12pt;\"><strong>OVERVIEW, TRADING ACTIVITY, NEWS UPDATE &amp; MONTHLY AND\r\n</strong><strong>YEAR TO DATE TRADING SUMMARIES:</strong></span></p>\r\n<span style=\"text-decoration: underline;\">2.1 OVERVIEW:</span>\r\n\r\nFor 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 the page there are three drop down menus: PREMIUM SERVICE, SIGN-UP and DISCLAIMER. Further details and how to join are all contained there. You will need at PayPal account to subscribe.\r\n\r\n<span style=\"text-decoration: underline;\">2.2 TRADING ACTIVITY:</span>\r\n\r\nI had an excellent week of trading. Only one loss producing trade and my core-position trades started to come back in line with my original direction. Last week I had 3 longer-term trades hedged; this week only 1. My maximum loss is limited to 70 pips. This is well within my RISK TOLERANCE level.\r\n\r\n(Further details on HEDGING, RISK TOLERANCE and RISK MANAGEMENT can be found inside the PREMIUM SERVICE under TRADING ESSENTIALS)\r\n\r\nThere were some great directional trades in the past 5 days that I was able to take advantage of with some excellent multi-lot position sized trades.\r\n\r\nMy “PLAN A” trade plan is in play and subscribers to the PREMIUM SERVICE are aware of my aims/goals with this moving forward. I see many thousands of pips available if this plan plays out.\r\n\r\n<span style=\"text-decoration: underline;\">2.3 MONTHLY AND YEAR TO DATE TRADING SUMMARIES<strong>:</strong></span>\r\n\r\nBelow I show the up to date performances for my various trading styles. Full excel spreadsheets are in the subscriber area of the PREMIUM SERVICE website\r\n\r\nBelow are the excel spreadsheets covering this month so far and the year 2014 to date.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/10/PREM-SERV-PROFITS1-25102014.png\"><img class=\"aligncenter size-full wp-image-4626\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/10/PREM-SERV-PROFITS1-25102014.png\" alt=\"PREM SERV PROFITS1 25102014\" width=\"463\" height=\"429\" /></a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/10/PREM-SERV-PROFITS2-25102014.png\"><img class=\"aligncenter size-full wp-image-4627\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/10/PREM-SERV-PROFITS2-25102014.png\" alt=\"PREM SERV PROFITS2 25102014\" width=\"463\" height=\"427\" /></a>\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">PLEASE NOTE:</span>\r\n\r\nThe above examples in sections 2.2 and 2.3 are for illustration purposes only. The profitability examples detailed above are based solely upon single lot trading, regardless of lot type. If multiple lot sizes are traded the profitability margins will be different than those shown.\r\n\r\nJust to provide more information so you understand where I am coming from with the risk / reward statements above. All of my trades are of different sizes and different size lot types. The above does not reflect the actual trading performance, but it does show you the direction of the performance of the trades placed. I like to add to trades, profits are taken as the trade progresses and my overall cost average moves several times. All of my trades are of different lot styles. I trade a mixture of micro lots, mini lots and standard lots across my brokers.\r\n\r\nThe above results simply display your profit or loss if you placed a single lot trade on all the set-ups suggested and did nothing else.\r\n\r\nYou must always remember to follow properly executed RISK MANAGEMENT and POSITION SIZING disciplines with all your trades and remember that Forex trading with a high degree of leverage can significantly increase your profits and losses. You should trade with a TRADE PLAN and NOT risk monies that you cannot afford to lose.\r\n\r\n<strong> </strong>\r\n<ol start=\"3\">\r\n	<li><span style=\"font-size: 14pt;\"><strong> THE FUNDAMENTAL TRADERS OVERVIEW:</strong></span></li>\r\n</ol>\r\n<p style=\"text-align: center;\"><strong><span style=\"font-size: 12pt;\">THE FED IN CONTROL OF POLICY</span>\r\n<span style=\"font-size: 12pt;\"> whilst</span>\r\n<span style=\"font-size: 12pt;\"> THE ECB HOLDS A CAN IN WAITING</span></strong></p>\r\n&nbsp;\r\n\r\nAfter two weeks of some great volatility in the Forex markets, we have now slowed just a little as traders look ahead on their calendars. Another FED event looms and as usual we seem to be driven by the vocabulary that will utilised in the press statement.\r\n\r\nWe have in my opinion two main factors that need to be addresses either by the FED or will be addressed as a result of FED action.\r\n<ol>\r\n	<li>The end of Quantitative Easing (QE). Thisshould be confirmed.If it is confirmed: I think that the USD will strengthen a little.\r\n\r\nIf it is delayed for whatever reason: There will be the rally beyond all rallies in the USD. The DXY will fall through support at 85.13.\r\n(SEE CHART BELOW).\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/10/DXY-25102014.png\"><img class=\"aligncenter size-large wp-image-4625\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/10/DXY-25102014-1024x569.png\" alt=\"DXY 25102014\" width=\"1024\" height=\"569\" /></a></li>\r\n	<li>A commentary on when interest rates will be rising.Recently, we have heard different FED members voice their opinions on the future interest rate policy of the FED. It is a mixed bag of delay or implement early 2015. Janet Yellen has tried to move away from specific economic data guidelines that were in place via her predecessor Ben Bernanke. She is a firm “Dove” in all her approaches and statements that she has made. Her language is one of “long after”…. Nothing will be immediate. If she continues to be dovish, one has to question the relevance of the U.S. economic data presented to us. If she doesn’t see it at positive…. why are the markets reacting to positive data?\r\n\r\nShould the Fed release wording in the statement that pushes out the date of interest rate rises beyond the early expected 2015 date, the dollar will weaken. If the Fed also states that QE is NOT ending this month the markets will go wild. Does she want this? I think not.</li>\r\n</ol>\r\nOn the flip side to the FED announcement is the reaction in the markets. But apart from the markets reaction, over the hours following the FED statement we should consider the reaction from the ECB.\r\n\r\nShould the FED delay the end of QE and push out interest rate increases I think the ECB would go into meltdown, as the EUR/USD will be heading to 1.3000 again. Then we enter a battle of the central banks… the FED versus the ECB.\r\n\r\nThe ECB reaction would be very interesting indeed, Draghi has already appealed for governments to pull together and work with ECB policy to push for growth. The mere fact that he has to come out and state this says it all as far as I am concerned.\r\n\r\nDraghi has no agreement with Germany over buying ABS and therefore is trying to have something for the next ECB meeting. Last week one ECB official came out and said it was unrealistic for the markets to expect some major initiative from the ECB at every press conference. The scene is being set and “the can” has been bought, they just need to decide what road to kick it down.\r\n\r\nIf the FED action results in USD weakness and the EUR jumps towards 1.3000, it would be a great long from present levels then short trade. However, it could spark a knee-jerk reaction from Berlin, who would, in many eyes be held responsible for the lack of activity so far in agreeing to loosen monetary policy to stimulate EUROZONE growth.\r\n\r\nLet me just slow down a little…. A knee-jerk reaction from Berlin could be March 2015. They would send Draghi out to talk about it for a few months first, hoping that they would not need to do anything and that we would all have forgotten about it.\r\n\r\nIt will be an interesting Wednesday through to Friday next week and then we have the ECB press conference the week after.\r\n\r\n&nbsp;\r\n<ol start=\"4\">\r\n	<li><span style=\"font-size: 14pt;\"><strong> TRADER TOPICS:</strong></span><strong> </strong></li>\r\n</ol>\r\n<p style=\"text-align: center;\"><span style=\"font-size: 12pt;\"><strong>IDEAS TO BATTLE UNCERTAINTY IN FOREX TRADING:</strong></span></p>\r\nWithout stating the obvious, Forex Trading is probably one of the most challenging markets to master. It is alive 24 hours a day and it can be very irrational at times. It can also be so unpredictable going from docile to volatile and back again in an instant.\r\n\r\nLooking at the volatility and uncertainties that we as traders live with day in and day out we have to look at ways to deal with the volatile environment that we work within.\r\n\r\nAs the global economy faces the possibility of slowing down once again and as the political leaders struggle amongst each other to resolve geopolitical events, what can we do to prevent uncertainty from crippling us with fear\r\n\r\nFrom my perspective after 7 years trading, battling uncertainty and getting beyond any fears that I may have requires two simple things:\r\n\r\n<span style=\"text-decoration: underline;\">ACCEPTANCE:</span>\r\n\r\nRemember this quote “No matter how hard you work, you can still be wrong” (Ray Dalio Bridgewater Associates).\r\n\r\nThere is NO Holy Grail, perfect pill to trading.\r\n\r\nIf you have it in your mind that your analysis skills will be so good or that you’ll find that perfect mathematical formula to building a flawless trading record, guess again! The simple fact is that unless you can see into the future, you will not be able to predict every market move or your automated system (if you have one) won’t be able to factor in every imaginary variable. Yes, you will have losing trades and, if you cannot internalize the principle that no matter what you do you’ll never know everything that’s around the corner, then you will continue to be blind to what’s really going on and be unable to adapt to the ever changing conditions.\r\n\r\nEveryone is different, so the catalyst for a paradigm shift to acceptance may come at different moments for each of us. But you can bet that it is usually doesn’t come until after a lot of trades and experience.\r\n\r\n<span style=\"text-decoration: underline;\">PREPARATION:</span>\r\n\r\nThe second step of reducing risk of the unknown is to be prepared. Serious business requires serious planning.\r\n\r\nTrading is serious business. Whilst unpredictable factors will always be present, uncertainty can be significantly reduced through proper preparation. Taking time to study and control what you can (e.g. being aware of sentiment and upcoming news, considering all possible market reactions, controlling risk) reduces much of the uncertainty, because you have identified and planned for the “worst case” scenario. If you already know the outcome of your trade regardless if the market goes up, down or sideways, then how can you be afraid?\r\n\r\nAcceptance and preparation sound like no-brainer solutions to overcoming the emotions created by facing the unknown, but of course, it’s easier said than done. The former may go against a belief system already deeply internalized in all of us: there is a logical reason for everything. Therefore we think “If I work hard and find the reasons that moved the market, I can use it as a competitive edge”. Please bear in mind, and I am sure that you have experienced this; the markets can be illogical and stay illogical longer than you can stay solvent, (Hence sometimes I hedge trades).\r\n\r\nPreparation requires flat out work. You have to put in chart analysis time. You have to do a fair amount of economic reading. You obviously have to do a great deal of your system research and testing to be prepared for whatever the market will throw at you day in and day out.\r\n\r\nIf you achieve longevity in Forex Trading, experience will shadow uncertainty.\r\n\r\nJust keep your head up when you take a hit, focus on probabilities in trading and the good habits you have and soon uncertainty will be something in the past.\r\n\r\n<strong> </strong>\r\n<ol start=\"5\">\r\n	<li><span style=\"font-size: 14pt;\"><strong> MY CURRENT LIVE TRADES:</strong></span></li>\r\n</ol>\r\n&nbsp;\r\n\r\n<strong>RADAR TRADES:</strong><strong> </strong>\r\n\r\nThere are no LIVE RADAR trades at the present time.\r\n\r\n<strong>FLASH TRADES:</strong>\r\n\r\nFT1190\r\nNZD/USD\r\nShort\r\nCost Average at: 0.7793\r\nStop at 0.7930\r\nLimit at 0.6580\r\nPresent Price: 0.7845\r\nCurrent Profit / Loss Position: -52 pips\r\n\r\nFT202\r\nUSD/CAD\r\nLong\r\nCost Average at: 1.1340\r\nStop at 1.1170\r\nLimit at 1.1570\r\nPresent Price: 1.1230\r\nCurrent Profit / Loss Position: -110 pips\r\n(This trade is currently hedged from -70 pips)\r\n\r\nFT209\r\nAUD/USD\r\nShort\r\nCost Average: 0.8785\r\nStop at: 0.8850\r\nLimit at: 0.8000\r\nPresent Price: 0.8786\r\nCurrent Profit / Loss Position: -1 pip\r\n\r\n<strong>FUNDAMENTAL TRADES:</strong>\r\n\r\nFUN44\r\nGBP/NZD\r\nLong\r\nCost Average at: 2.0507\r\nStop at 1.9500\r\nLimit at 2.3200\r\nPresent Price: 2.0479\r\nCurrent Profit / Loss Position: -28 pips\r\n\r\n<strong> </strong><strong> </strong>\r\n<ol start=\"6\">\r\n	<li><span style=\"font-size: 14pt;\"><strong> TRADES THAT ARE ON MY RADAR:</strong></span></li>\r\n</ol>\r\nI have PLAN A in place and I think that I will be adding to core PLAN A trades only after the FED statement. In the interim I will be day trading and if those trades develop into swing trades all well and good.\r\n\r\nI will NOT look at adding commodity cross-rates until after the FED.\r\n\r\nNone of the trades below are loaded with my brokers yet. The reasons are: -\r\n<ol>\r\n	<li>European Bank Stress Tests fallout.</li>\r\n	<li>ISIS</li>\r\n	<li>EBOLA</li>\r\n</ol>\r\nAll of the trade suggested set-ups below are very simple straightforward probability trades based upon Fibonacci levels and horizontal support levels. As I have stated many times, trading is about identifying chart patterns and high probability trades. I use Fibonacci and pivot points for comfort most of the time as they do work.\r\n\r\nEUR/USD\r\nSHORT\r\nENTRY AT 1.2715\r\nSTOP AT 1.2765\r\nLIMIT 1.2600\r\n\r\n<strong> <a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/10/EURUSD-240M-25102014.png\"><img class=\"aligncenter size-large wp-image-4619\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/10/EURUSD-240M-25102014-1024x518.png\" alt=\"EURUSD 240M 25102014\" width=\"1024\" height=\"518\" /></a></strong>\r\n\r\n&nbsp;\r\n\r\nGBP/USD\r\nSHORT\r\nENTRY AT 1.6110\r\nSTOP AT 1.6190\r\nLIMIT 1.5995\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/10/GBPUSD-240M-25102014.png\"><img class=\"aligncenter size-large wp-image-4618\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/10/GBPUSD-240M-25102014-1024x518.png\" alt=\"GBPUSD 240M 25102014\" width=\"1024\" height=\"518\" /></a><a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/10/GBPUSD-240M-25102014.png\">\r\n</a>\r\n\r\n&nbsp;\r\n\r\nNZD/USD\r\nSHORT\r\nENTRY AT 0.7880\r\nSTOP AT 0.7970\r\nLIMIT 0.7790\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/10/NZDUSD-240M-25102014.png\"><img class=\"aligncenter size-large wp-image-4617\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/10/NZDUSD-240M-25102014-1024x518.png\" alt=\"NZDUSD 240M 25102014\" width=\"1024\" height=\"518\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\nUSD/CHF\r\nLONG\r\nENTRY FROM 0.9480\r\nSTOP AT 0.9430\r\nLIMIT 0.9560\r\n\r\n<strong> <a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/10/USDCHF-240M-25102014.png\"><img class=\"aligncenter size-large wp-image-4616\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/10/USDCHF-240M-25102014-1024x518.png\" alt=\"USDCHF 240M 25102014\" width=\"1024\" height=\"518\" /></a></strong>\r\n\r\n<strong> </strong><strong> </strong>\r\n\r\nI will obviously add via twitter and THE DAILY FX POST additional trades as I see them<strong>.</strong>\r\n\r\n<strong> </strong><strong> </strong>\r\n<ol start=\"7\">\r\n	<li><span style=\"font-size: 14pt;\"><strong> LOOKING FORWARD…THE KEY SUPPORT &amp; RESISTANCE LEVELS WITH THE USD MAJORS:</strong></span></li>\r\n</ol>\r\n<strong>EUR/USD: Closing Price 1.2670.</strong> We have seen a small drop in price in the past week. There are many news items ahead that will move price with this pair. Whilst the longer-term sentiment is bearish it will be a tough call on what to do with this pair in the short-term. My ultimate belief is that we are heading sub 1.2000, and, I believe that the FED will help the ECB achieve this through rate increases in the U.S. Support is very strong at 1.2600. I have this feeling we head higher first. There are so many great entry points higher for short trades back in the direction of the longer-term trend. Resistance is good at 1.2715 then 1.2765.\r\n\r\n<strong>GBP/USD: Closing Price 1.6088</strong>. After all the shenanigans we end this week almost exactly where we closed the week before. I had a GBP/USD short trade last week and took a mere 20 pips profit from it. The cable was just not moving/acting correctly and I took the trade off the table… a good decision. We are range bound with this pair like so many others so it is set up for range trading for day traders. 1.6000 is great support and 1.6125 is good resistance.<strong> </strong>\r\n\r\n<strong>AUD/USD: Closing Price 0.8786</strong>. I am confused by the price action with the Aussie. I was expecting a continuation of the fall in value. Instead, we have witnessed a false breakdown lower. I am not certain if this is the case but the price action has surprised me. Support is good at 0.8700 and resistance at 0.8850 and if broken will change my thoughts on how to approach these markets going forward.\r\n\r\n<strong>NZD/USD: Closing Price 0.7845</strong>. The RBNZ must be pleased with the move lower in this currency pair. Also, during the week inflation data showed that there were no inflation concerns in the New Zealand economy therefore calls for further interest rate hikes should now be muted. Therefore, when Graeme Wheeler RBNZ Bank Governor releases his commentary to go with the interest rate decision this Wednesday, he has the ideal opportunity to state that the exchange rate is still too high and that he will continue to intervene in the currency markets. This should send the NZD/USD lower and my GBP/NZD higher…. if he does this he will be on my Christmas card list. Support for now is at 0.7795 and resistance is huge at 0.7995.\r\n\r\n<strong>USD/CAD: Closing Price 1.1230.</strong> Why do I continue to trade the “Loonie?” I seem to have one great trade that blurs my vision and 4 bad trades to follow. I am currently long this pair but my trade is hedged to just a 70 pip loss. Personally, I want to see OIL at $70.00 a barrel very quickly. That would place this pair around 1.1600, I would make a ton of $$$... then I can close the trade. Unfortunately, it is struggling to move past 1.1250! I think that sentiment hasn’t changed despite the best efforts of Stephen Poloz, the governor at the BOC, who released a fairy tale last Wednesday aka the official BOC Monetary Policy Report. Support is at 1.1170 and resistance is 1.1300.\r\n\r\n<strong>USD/CHF: Closing Price 0.9518</strong>. This pair is well supported at 0.9400. It has bounced off this level at least 4 times in the past two/three weeks. Support looking into the next few sessions is at 0.9480 and resistance at 0.9560.\r\n\r\n<strong>USD/JPY: Closing Price 108.16. </strong>I am tired of looking at USD/JPY charts and trying to figure out what is the right thing to do… so I do nothing. We have moved up 100+ pips in the past week, but at the back of my mind I have this feeling that it will play the party line and rollover with equities when equities decide to correct properly; hence all my indecision. Looking forward I see 107.50 as good support and 108.65 as good resistance.\r\n\r\n&nbsp;\r\n<ol start=\"8\">\r\n	<li><span style=\"font-size: 14pt;\"><strong> MAJOR TRADING PAIRS WITH LONGER-TERM TRENDS MATCHING:</strong></span></li>\r\n</ol>\r\nThe following currency pairs have Short Term (DAILY), Medium Term (WEEKLY) and Long Term (MONTHLY) charts all trending in the same direction.\r\n\r\n<span style=\"text-decoration: underline;\">LONG:</span>\r\n\r\nUSD/CAD – why is it not motoring?\r\nUSD/JPY\r\nGBP/CHF\r\nAUD/NZD\r\nUSD/DKK\r\nEUR/NOK\r\nEUR/SEK\r\n\r\n<span style=\"text-decoration: underline;\">SHORT:</span>\r\n\r\nNZD/USD\r\nEUR/GBP\r\nEUR/AUD\r\nEUR/CHF\r\n<ol start=\"9\">\r\n	<li><span style=\"font-size: 14pt;\"><strong> MAJOR FOREX NEWS THIS WEEK THAT INTERESTS ME:</strong></span><strong> </strong></li>\r\n</ol>\r\nSUNDAY: EUR – European Bank Stress Tests.\r\n\r\nMONDAY: EUR – German IFO Business Climate.\r\n\r\nTUESDAY: USD – Core Durable Goods.\r\nTUESDAY: NZD – ANZ Business Confidence.\r\n\r\nWEDNESDAY: USD – FOMC Statement and Fed Funds Rate\r\nWEDNESDAY: NZD – Interest Rate and RBNZ Rate Statement.\r\nWEDNESDAY: AUD – RBA Economic and Fiscal Outlook.\r\n\r\nTHURSDAY: EUR – German CPi.\r\nTHURSDAY: USD – GDP.\r\nTHURSDAY: AUD – PPi.\r\n\r\nFRIDAY: EUR – CPI estimate.\r\nFRIDAY: CAD - GDP.\r\n\r\n<strong> </strong>\r\n\r\n<strong> </strong><strong style=\"font-size: 14pt;\">FINAL THOUGHTS:</strong>\r\n\r\nThis is a big week for us.\r\n\r\nPersonally my PLAN A will be under scrutiny if the FED weakens the USD beyond the point of no return. Right now there is trend line support at 85.13 on the DXY, there is some leeway in my number but 84.75 on the DXY and I will be on PLAN B. My hope if that I can get long the USD across the board at 85.13 on the DXY.\r\n\r\nMy plan A aside, the FED FOMC statement, ECB Bank Stress Results, ECB - QE with it’s on or off leaks, rumours and denials that go hand in hand with EUROZONE normal business gives us enough to send the USD to hell or heaven within minutes.\r\n\r\nTherefore, my suggestion is to trade smaller position sizes so as to avoid being caught the wrong side of a trade and incur big losses.\r\n\r\nIs the market still directional?\r\n\r\nIn the near future I believe that it will be, but for now we are consolidating. If the FED really moves the market one-way or the other, with a very one-sided statement, that could change. There are overriding factors why the USD (DXY) should strengthen but that doesn’t mean that it has to.\r\n\r\nFrom a trading perspective we should therefore, given the uncertainty and volatility, trade with smaller position sizes and wider stops.\r\n\r\nJust remember; always use the RISK MANAGEMENT principles outlined in the PREMIUM SERVICE web site TRADING ESSENTIALS section to ensure that you do not over-stretch your Forex account. Longevity in the Forex market is only achieved through strong TRADING DISCIPLINES that include effective and strategic POSITION SIZING.\r\n\r\nGood Luck.\r\n\r\nScott Pickering\r\nThe Pip Accumulator\r\nSaturday October 25th 2014\r\n\r\nEMAIL / FOLLOW ME AT:\r\npremiumservice@weeklyfxdrivethru.com\r\nTwitter: @pipaccumulator\r\nTwitter: @ThePremService\r\nGoogle+/scottpickering\r\n\r\n<strong>DISCLAIMER:</strong>\r\n\r\nFLASH, 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.','THE FED IN CONTROL OF POLICY whilst THE ECB HOLDS A CAN IN WAITING ','','inherit','open','closed','','4630-revision-v1','','','2014-10-25 05:06:14','2014-10-25 10:06:14','',4630,'https://weeklyfxdrivethru.com/4630-revision-v1/',0,'revision','',0),(4633,1,'2014-10-25 05:06:27','2014-10-25 10:06:27','<strong> </strong>\r\n<ol>\r\n	<li><span style=\"font-size: 14pt;\"><strong> INTRODUCTION:</strong></span></li>\r\n</ol>\r\nI had a great trading week, only one loss making trade, plenty of $$$ and pips plus I have my trading plan, aka PLAN A, in position as always.\r\n\r\nLast week’s main piece in the blog when I talked about Draghi either putting up or resigning created quite a few comments, and, they were equally split 50-50 on whether he should stay or he should go. You can now just imagine the next ECB Press Conference…the scene is set…dry ice and Mario Draghi enters to The Clash pumping out “Should I stay or should I go”. OK… maybe not.\r\n\r\nWe have the ECB Bank stress results being published on Sunday 26<sup>th</sup> October (tomorrow). By the time this blog is posted to the website, there will no doubt be rumour and counter-rumour about the results leaked to the press and the numerous European TV stations. I think the main takeaway from this round of European stress tests is that some banks will have to fail, if it is just to see the ECB receive some credibility. Previous stress tests have been in a word lame.\r\n\r\nLooking forward, the FED statement and NZD interest rate announcement and RBNZ rate statement are the two news items that stand out, in my opinion.\r\n\r\nI feel turbulence in the markets on the horizon and the FED moves will be very influential on how the end of the year plays out. If it is not the way I want… then PLAN B will be rolled out immediately.\r\n\r\n<strong> </strong>\r\n<ol start=\"2\">\r\n	<li><strong><span style=\"font-size: 14pt;\"> THE PREMIUM SERVICE: </span></strong></li>\r\n</ol>\r\n<p style=\"text-align: center;\"><span style=\"font-size: 12pt;\"><strong>OVERVIEW, TRADING ACTIVITY, NEWS UPDATE &amp; MONTHLY AND\r\n</strong><strong>YEAR TO DATE TRADING SUMMARIES:</strong></span></p>\r\n<span style=\"text-decoration: underline;\">2.1 OVERVIEW:</span>\r\n\r\nFor 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 the page there are three drop down menus: PREMIUM SERVICE, SIGN-UP and DISCLAIMER. Further details and how to join are all contained there. You will need at PayPal account to subscribe.\r\n\r\n<span style=\"text-decoration: underline;\">2.2 TRADING ACTIVITY:</span>\r\n\r\nI had an excellent week of trading. Only one loss producing trade and my core-position trades started to come back in line with my original direction. Last week I had 3 longer-term trades hedged; this week only 1. My maximum loss is limited to 70 pips. This is well within my RISK TOLERANCE level.\r\n\r\n(Further details on HEDGING, RISK TOLERANCE and RISK MANAGEMENT can be found inside the PREMIUM SERVICE under TRADING ESSENTIALS)\r\n\r\nThere were some great directional trades in the past 5 days that I was able to take advantage of with some excellent multi-lot position sized trades.\r\n\r\nMy “PLAN A” trade plan is in play and subscribers to the PREMIUM SERVICE are aware of my aims/goals with this moving forward. I see many thousands of pips available if this plan plays out.\r\n\r\n<span style=\"text-decoration: underline;\">2.3 MONTHLY AND YEAR TO DATE TRADING SUMMARIES<strong>:</strong></span>\r\n\r\nBelow I show the up to date performances for my various trading styles. Full excel spreadsheets are in the subscriber area of the PREMIUM SERVICE website\r\n\r\nBelow are the excel spreadsheets covering this month so far and the year 2014 to date.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/10/PREM-SERV-PROFITS1-25102014.png\"><img class=\"aligncenter size-full wp-image-4626\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/10/PREM-SERV-PROFITS1-25102014.png\" alt=\"PREM SERV PROFITS1 25102014\" width=\"463\" height=\"429\" /></a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/10/PREM-SERV-PROFITS2-25102014.png\"><img class=\"aligncenter size-full wp-image-4627\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/10/PREM-SERV-PROFITS2-25102014.png\" alt=\"PREM SERV PROFITS2 25102014\" width=\"463\" height=\"427\" /></a>\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">PLEASE NOTE:</span>\r\n\r\nThe above examples in sections 2.2 and 2.3 are for illustration purposes only. The profitability examples detailed above are based solely upon single lot trading, regardless of lot type. If multiple lot sizes are traded the profitability margins will be different than those shown.\r\n\r\nJust to provide more information so you understand where I am coming from with the risk / reward statements above. All of my trades are of different sizes and different size lot types. The above does not reflect the actual trading performance, but it does show you the direction of the performance of the trades placed. I like to add to trades, profits are taken as the trade progresses and my overall cost average moves several times. All of my trades are of different lot styles. I trade a mixture of micro lots, mini lots and standard lots across my brokers.\r\n\r\nThe above results simply display your profit or loss if you placed a single lot trade on all the set-ups suggested and did nothing else.\r\n\r\nYou must always remember to follow properly executed RISK MANAGEMENT and POSITION SIZING disciplines with all your trades and remember that Forex trading with a high degree of leverage can significantly increase your profits and losses. You should trade with a TRADE PLAN and NOT risk monies that you cannot afford to lose.\r\n\r\n<strong> </strong>\r\n<ol start=\"3\">\r\n	<li><span style=\"font-size: 14pt;\"><strong> THE FUNDAMENTAL TRADERS OVERVIEW:</strong></span></li>\r\n</ol>\r\n<p style=\"text-align: center;\"><strong><span style=\"font-size: 12pt;\">THE FED IN CONTROL OF POLICY</span>\r\n<span style=\"font-size: 12pt;\"> whilst</span>\r\n<span style=\"font-size: 12pt;\"> THE ECB HOLDS A CAN IN WAITING</span></strong></p>\r\n&nbsp;\r\n\r\nAfter two weeks of some great volatility in the Forex markets, we have now slowed just a little as traders look ahead on their calendars. Another FED event looms and as usual we seem to be driven by the vocabulary that will utilised in the press statement.\r\n\r\nWe have in my opinion two main factors that need to be addresses either by the FED or will be addressed as a result of FED action.\r\n<ol>\r\n	<li>The end of Quantitative Easing (QE).Thisshould be confirmed.If itis confirmed: I think that the USD will strengthen a little.If it is delayed for whatever reason: There will be the rally beyond all rallies in the USD. The DXY will fall through support at 85.13.\r\n(SEE CHART BELOW).\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/10/DXY-25102014.png\"><img class=\"aligncenter size-large wp-image-4625\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/10/DXY-25102014-1024x569.png\" alt=\"DXY 25102014\" width=\"1024\" height=\"569\" /></a></li>\r\n	<li>A commentary on when interest rates will be rising.Recently, we have heard different FED members voice their opinions on the future interest rate policy of the FED. It is a mixed bag of delay orimplement early 2015. JanetYellen has tried to move away from specific economic data guidelines that were in place via her predecessor Ben Bernanke. She is a firm “Dove” in all her approaches and statements that she has made. Her language is one of “long after”…. Nothing will be immediate. If she continuesto bedovish, one has to questionthe relevance of the U.S. economic data presented to us. If she doesn’t see it at positive…. why are the markets reacting to positive data?Should the Fed release wording in the statement that pushes out the date of interest rate rises beyond the early expected 2015 date, the dollar will weaken. If the Fed also states that QE is NOT ending this month the markets will go wild. Does she want this? I think not.</li>\r\n</ol>\r\nOn the flip side to the FED announcement is the reaction in the markets. But apart from the markets reaction, over the hours following the FED statement we should consider the reaction from the ECB.\r\n\r\nShould the FED delay the end of QE and push out interest rate increases I think the ECB would go into meltdown, as the EUR/USD will be heading to 1.3000 again. Then we enter a battle of the central banks… the FED versus the ECB.\r\n\r\nThe ECB reaction would be very interesting indeed, Draghi has already appealed for governments to pull together and work with ECB policy to push for growth. The mere fact that he has to come out and state this says it all as far as I am concerned.\r\n\r\nDraghi has no agreement with Germany over buying ABS and therefore is trying to have something for the next ECB meeting. Last week one ECB official came out and said it was unrealistic for the markets to expect some major initiative from the ECB at every press conference. The scene is being set and “the can” has been bought, they just need to decide what road to kick it down.\r\n\r\nIf the FED action results in USD weakness and the EUR jumps towards 1.3000, it would be a great long from present levels then short trade. However, it could spark a knee-jerk reaction from Berlin, who would, in many eyes be held responsible for the lack of activity so far in agreeing to loosen monetary policy to stimulate EUROZONE growth.\r\n\r\nLet me just slow down a little…. A knee-jerk reaction from Berlin could be March 2015. They would send Draghi out to talk about it for a few months first, hoping that they would not need to do anything and that we would all have forgotten about it.\r\n\r\nIt will be an interesting Wednesday through to Friday next week and then we have the ECB press conference the week after.\r\n\r\n&nbsp;\r\n<ol start=\"4\">\r\n	<li><span style=\"font-size: 14pt;\"><strong> TRADER TOPICS:</strong></span><strong> </strong></li>\r\n</ol>\r\n<p style=\"text-align: center;\"><span style=\"font-size: 12pt;\"><strong>IDEAS TO BATTLE UNCERTAINTY IN FOREX TRADING:</strong></span></p>\r\nWithout stating the obvious, Forex Trading is probably one of the most challenging markets to master. It is alive 24 hours a day and it can be very irrational at times. It can also be so unpredictable going from docile to volatile and back again in an instant.\r\n\r\nLooking at the volatility and uncertainties that we as traders live with day in and day out we have to look at ways to deal with the volatile environment that we work within.\r\n\r\nAs the global economy faces the possibility of slowing down once again and as the political leaders struggle amongst each other to resolve geopolitical events, what can we do to prevent uncertainty from crippling us with fear\r\n\r\nFrom my perspective after 7 years trading, battling uncertainty and getting beyond any fears that I may have requires two simple things:\r\n\r\n<span style=\"text-decoration: underline;\">ACCEPTANCE:</span>\r\n\r\nRemember this quote “No matter how hard you work, you can still be wrong” (Ray Dalio Bridgewater Associates).\r\n\r\nThere is NO Holy Grail, perfect pill to trading.\r\n\r\nIf you have it in your mind that your analysis skills will be so good or that you’ll find that perfect mathematical formula to building a flawless trading record, guess again! The simple fact is that unless you can see into the future, you will not be able to predict every market move or your automated system (if you have one) won’t be able to factor in every imaginary variable. Yes, you will have losing trades and, if you cannot internalize the principle that no matter what you do you’ll never know everything that’s around the corner, then you will continue to be blind to what’s really going on and be unable to adapt to the ever changing conditions.\r\n\r\nEveryone is different, so the catalyst for a paradigm shift to acceptance may come at different moments for each of us. But you can bet that it is usually doesn’t come until after a lot of trades and experience.\r\n\r\n<span style=\"text-decoration: underline;\">PREPARATION:</span>\r\n\r\nThe second step of reducing risk of the unknown is to be prepared. Serious business requires serious planning.\r\n\r\nTrading is serious business. Whilst unpredictable factors will always be present, uncertainty can be significantly reduced through proper preparation. Taking time to study and control what you can (e.g. being aware of sentiment and upcoming news, considering all possible market reactions, controlling risk) reduces much of the uncertainty, because you have identified and planned for the “worst case” scenario. If you already know the outcome of your trade regardless if the market goes up, down or sideways, then how can you be afraid?\r\n\r\nAcceptance and preparation sound like no-brainer solutions to overcoming the emotions created by facing the unknown, but of course, it’s easier said than done. The former may go against a belief system already deeply internalized in all of us: there is a logical reason for everything. Therefore we think “If I work hard and find the reasons that moved the market, I can use it as a competitive edge”. Please bear in mind, and I am sure that you have experienced this; the markets can be illogical and stay illogical longer than you can stay solvent, (Hence sometimes I hedge trades).\r\n\r\nPreparation requires flat out work. You have to put in chart analysis time. You have to do a fair amount of economic reading. You obviously have to do a great deal of your system research and testing to be prepared for whatever the market will throw at you day in and day out.\r\n\r\nIf you achieve longevity in Forex Trading, experience will shadow uncertainty.\r\n\r\nJust keep your head up when you take a hit, focus on probabilities in trading and the good habits you have and soon uncertainty will be something in the past.\r\n\r\n<strong> </strong>\r\n<ol start=\"5\">\r\n	<li><span style=\"font-size: 14pt;\"><strong> MY CURRENT LIVE TRADES:</strong></span></li>\r\n</ol>\r\n&nbsp;\r\n\r\n<strong>RADAR TRADES:</strong><strong> </strong>\r\n\r\nThere are no LIVE RADAR trades at the present time.\r\n\r\n<strong>FLASH TRADES:</strong>\r\n\r\nFT1190\r\nNZD/USD\r\nShort\r\nCost Average at: 0.7793\r\nStop at 0.7930\r\nLimit at 0.6580\r\nPresent Price: 0.7845\r\nCurrent Profit / Loss Position: -52 pips\r\n\r\nFT202\r\nUSD/CAD\r\nLong\r\nCost Average at: 1.1340\r\nStop at 1.1170\r\nLimit at 1.1570\r\nPresent Price: 1.1230\r\nCurrent Profit / Loss Position: -110 pips\r\n(This trade is currently hedged from -70 pips)\r\n\r\nFT209\r\nAUD/USD\r\nShort\r\nCost Average: 0.8785\r\nStop at: 0.8850\r\nLimit at: 0.8000\r\nPresent Price: 0.8786\r\nCurrent Profit / Loss Position: -1 pip\r\n\r\n<strong>FUNDAMENTAL TRADES:</strong>\r\n\r\nFUN44\r\nGBP/NZD\r\nLong\r\nCost Average at: 2.0507\r\nStop at 1.9500\r\nLimit at 2.3200\r\nPresent Price: 2.0479\r\nCurrent Profit / Loss Position: -28 pips\r\n\r\n<strong> </strong><strong> </strong>\r\n<ol start=\"6\">\r\n	<li><span style=\"font-size: 14pt;\"><strong> TRADES THAT ARE ON MY RADAR:</strong></span></li>\r\n</ol>\r\nI have PLAN A in place and I think that I will be adding to core PLAN A trades only after the FED statement. In the interim I will be day trading and if those trades develop into swing trades all well and good.\r\n\r\nI will NOT look at adding commodity cross-rates until after the FED.\r\n\r\nNone of the trades below are loaded with my brokers yet. The reasons are: -\r\n<ol>\r\n	<li>European Bank Stress Tests fallout.</li>\r\n	<li>ISIS</li>\r\n	<li>EBOLA</li>\r\n</ol>\r\nAll of the trade suggested set-ups below are very simple straightforward probability trades based upon Fibonacci levels and horizontal support levels. As I have stated many times, trading is about identifying chart patterns and high probability trades. I use Fibonacci and pivot points for comfort most of the time as they do work.\r\n\r\nEUR/USD\r\nSHORT\r\nENTRY AT 1.2715\r\nSTOP AT 1.2765\r\nLIMIT 1.2600\r\n\r\n<strong> <a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/10/EURUSD-240M-25102014.png\"><img class=\"aligncenter size-large wp-image-4619\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/10/EURUSD-240M-25102014-1024x518.png\" alt=\"EURUSD 240M 25102014\" width=\"1024\" height=\"518\" /></a></strong>\r\n\r\n&nbsp;\r\n\r\nGBP/USD\r\nSHORT\r\nENTRY AT 1.6110\r\nSTOP AT 1.6190\r\nLIMIT 1.5995\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/10/GBPUSD-240M-25102014.png\"><img class=\"aligncenter size-large wp-image-4618\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/10/GBPUSD-240M-25102014-1024x518.png\" alt=\"GBPUSD 240M 25102014\" width=\"1024\" height=\"518\" /></a><a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/10/GBPUSD-240M-25102014.png\">\r\n</a>\r\n\r\n&nbsp;\r\n\r\nNZD/USD\r\nSHORT\r\nENTRY AT 0.7880\r\nSTOP AT 0.7970\r\nLIMIT 0.7790\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/10/NZDUSD-240M-25102014.png\"><img class=\"aligncenter size-large wp-image-4617\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/10/NZDUSD-240M-25102014-1024x518.png\" alt=\"NZDUSD 240M 25102014\" width=\"1024\" height=\"518\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\nUSD/CHF\r\nLONG\r\nENTRY FROM 0.9480\r\nSTOP AT 0.9430\r\nLIMIT 0.9560\r\n\r\n<strong> <a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/10/USDCHF-240M-25102014.png\"><img class=\"aligncenter size-large wp-image-4616\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/10/USDCHF-240M-25102014-1024x518.png\" alt=\"USDCHF 240M 25102014\" width=\"1024\" height=\"518\" /></a></strong>\r\n\r\n<strong> </strong><strong> </strong>\r\n\r\nI will obviously add via twitter and THE DAILY FX POST additional trades as I see them<strong>.</strong>\r\n\r\n<strong> </strong><strong> </strong>\r\n<ol start=\"7\">\r\n	<li><span style=\"font-size: 14pt;\"><strong> LOOKING FORWARD…THE KEY SUPPORT &amp; RESISTANCE LEVELS WITH THE USD MAJORS:</strong></span></li>\r\n</ol>\r\n<strong>EUR/USD: Closing Price 1.2670.</strong> We have seen a small drop in price in the past week. There are many news items ahead that will move price with this pair. Whilst the longer-term sentiment is bearish it will be a tough call on what to do with this pair in the short-term. My ultimate belief is that we are heading sub 1.2000, and, I believe that the FED will help the ECB achieve this through rate increases in the U.S. Support is very strong at 1.2600. I have this feeling we head higher first. There are so many great entry points higher for short trades back in the direction of the longer-term trend. Resistance is good at 1.2715 then 1.2765.\r\n\r\n<strong>GBP/USD: Closing Price 1.6088</strong>. After all the shenanigans we end this week almost exactly where we closed the week before. I had a GBP/USD short trade last week and took a mere 20 pips profit from it. The cable was just not moving/acting correctly and I took the trade off the table… a good decision. We are range bound with this pair like so many others so it is set up for range trading for day traders. 1.6000 is great support and 1.6125 is good resistance.<strong> </strong>\r\n\r\n<strong>AUD/USD: Closing Price 0.8786</strong>. I am confused by the price action with the Aussie. I was expecting a continuation of the fall in value. Instead, we have witnessed a false breakdown lower. I am not certain if this is the case but the price action has surprised me. Support is good at 0.8700 and resistance at 0.8850 and if broken will change my thoughts on how to approach these markets going forward.\r\n\r\n<strong>NZD/USD: Closing Price 0.7845</strong>. The RBNZ must be pleased with the move lower in this currency pair. Also, during the week inflation data showed that there were no inflation concerns in the New Zealand economy therefore calls for further interest rate hikes should now be muted. Therefore, when Graeme Wheeler RBNZ Bank Governor releases his commentary to go with the interest rate decision this Wednesday, he has the ideal opportunity to state that the exchange rate is still too high and that he will continue to intervene in the currency markets. This should send the NZD/USD lower and my GBP/NZD higher…. if he does this he will be on my Christmas card list. Support for now is at 0.7795 and resistance is huge at 0.7995.\r\n\r\n<strong>USD/CAD: Closing Price 1.1230.</strong> Why do I continue to trade the “Loonie?” I seem to have one great trade that blurs my vision and 4 bad trades to follow. I am currently long this pair but my trade is hedged to just a 70 pip loss. Personally, I want to see OIL at $70.00 a barrel very quickly. That would place this pair around 1.1600, I would make a ton of $$$... then I can close the trade. Unfortunately, it is struggling to move past 1.1250! I think that sentiment hasn’t changed despite the best efforts of Stephen Poloz, the governor at the BOC, who released a fairy tale last Wednesday aka the official BOC Monetary Policy Report. Support is at 1.1170 and resistance is 1.1300.\r\n\r\n<strong>USD/CHF: Closing Price 0.9518</strong>. This pair is well supported at 0.9400. It has bounced off this level at least 4 times in the past two/three weeks. Support looking into the next few sessions is at 0.9480 and resistance at 0.9560.\r\n\r\n<strong>USD/JPY: Closing Price 108.16. </strong>I am tired of looking at USD/JPY charts and trying to figure out what is the right thing to do… so I do nothing. We have moved up 100+ pips in the past week, but at the back of my mind I have this feeling that it will play the party line and rollover with equities when equities decide to correct properly; hence all my indecision. Looking forward I see 107.50 as good support and 108.65 as good resistance.\r\n\r\n&nbsp;\r\n<ol start=\"8\">\r\n	<li><span style=\"font-size: 14pt;\"><strong> MAJOR TRADING PAIRS WITH LONGER-TERM TRENDS MATCHING:</strong></span></li>\r\n</ol>\r\nThe following currency pairs have Short Term (DAILY), Medium Term (WEEKLY) and Long Term (MONTHLY) charts all trending in the same direction.\r\n\r\n<span style=\"text-decoration: underline;\">LONG:</span>\r\n\r\nUSD/CAD – why is it not motoring?\r\nUSD/JPY\r\nGBP/CHF\r\nAUD/NZD\r\nUSD/DKK\r\nEUR/NOK\r\nEUR/SEK\r\n\r\n<span style=\"text-decoration: underline;\">SHORT:</span>\r\n\r\nNZD/USD\r\nEUR/GBP\r\nEUR/AUD\r\nEUR/CHF\r\n<ol start=\"9\">\r\n	<li><span style=\"font-size: 14pt;\"><strong> MAJOR FOREX NEWS THIS WEEK THAT INTERESTS ME:</strong></span><strong> </strong></li>\r\n</ol>\r\nSUNDAY: EUR – European Bank Stress Tests.\r\n\r\nMONDAY: EUR – German IFO Business Climate.\r\n\r\nTUESDAY: USD – Core Durable Goods.\r\nTUESDAY: NZD – ANZ Business Confidence.\r\n\r\nWEDNESDAY: USD – FOMC Statement and Fed Funds Rate\r\nWEDNESDAY: NZD – Interest Rate and RBNZ Rate Statement.\r\nWEDNESDAY: AUD – RBA Economic and Fiscal Outlook.\r\n\r\nTHURSDAY: EUR – German CPi.\r\nTHURSDAY: USD – GDP.\r\nTHURSDAY: AUD – PPi.\r\n\r\nFRIDAY: EUR – CPI estimate.\r\nFRIDAY: CAD - GDP.\r\n\r\n<strong> </strong>\r\n\r\n<strong> </strong><strong style=\"font-size: 14pt;\">FINAL THOUGHTS:</strong>\r\n\r\nThis is a big week for us.\r\n\r\nPersonally my PLAN A will be under scrutiny if the FED weakens the USD beyond the point of no return. Right now there is trend line support at 85.13 on the DXY, there is some leeway in my number but 84.75 on the DXY and I will be on PLAN B. My hope if that I can get long the USD across the board at 85.13 on the DXY.\r\n\r\nMy plan A aside, the FED FOMC statement, ECB Bank Stress Results, ECB - QE with it’s on or off leaks, rumours and denials that go hand in hand with EUROZONE normal business gives us enough to send the USD to hell or heaven within minutes.\r\n\r\nTherefore, my suggestion is to trade smaller position sizes so as to avoid being caught the wrong side of a trade and incur big losses.\r\n\r\nIs the market still directional?\r\n\r\nIn the near future I believe that it will be, but for now we are consolidating. If the FED really moves the market one-way or the other, with a very one-sided statement, that could change. There are overriding factors why the USD (DXY) should strengthen but that doesn’t mean that it has to.\r\n\r\nFrom a trading perspective we should therefore, given the uncertainty and volatility, trade with smaller position sizes and wider stops.\r\n\r\nJust remember; always use the RISK MANAGEMENT principles outlined in the PREMIUM SERVICE web site TRADING ESSENTIALS section to ensure that you do not over-stretch your Forex account. Longevity in the Forex market is only achieved through strong TRADING DISCIPLINES that include effective and strategic POSITION SIZING.\r\n\r\nGood Luck.\r\n\r\nScott Pickering\r\nThe Pip Accumulator\r\nSaturday October 25th 2014\r\n\r\nEMAIL / FOLLOW ME AT:\r\npremiumservice@weeklyfxdrivethru.com\r\nTwitter: @pipaccumulator\r\nTwitter: @ThePremService\r\nGoogle+/scottpickering\r\n\r\n<strong>DISCLAIMER:</strong>\r\n\r\nFLASH, 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.','THE FED IN CONTROL OF POLICY whilst THE ECB HOLDS A CAN IN WAITING ','','inherit','open','closed','','4630-revision-v1','','','2014-10-25 05:06:27','2014-10-25 10:06:27','',4630,'https://weeklyfxdrivethru.com/4630-revision-v1/',0,'revision','',0),(4634,1,'2014-10-25 06:14:35','2014-10-25 11:14:35','<strong> </strong>\r\n<ol>\r\n	<li><span style=\"font-size: 14pt;\"><strong> INTRODUCTION:</strong></span></li>\r\n</ol>\r\nI had a great trading week, only one loss making trade, plenty of $$$ and pips plus I have my trading plan, aka PLAN A, in position as always.\r\n\r\nLast week’s main piece in the blog when I talked about Draghi either putting up or resigning created quite a few comments, and, they were equally split 50-50 on whether he should stay or he should go. You can now just imagine the next ECB Press Conference…the scene is set…dry ice and Mario Draghi enters to The Clash pumping out “Should I stay or should I go”. OK… maybe not.\r\n\r\nWe have the ECB Bank stress results being published on Sunday 26<sup>th</sup> October (tomorrow). By the time this blog is posted to the website, there will no doubt be rumour and counter-rumour about the results leaked to the press and the numerous European TV stations. I think the main takeaway from this round of European stress tests is that some banks will have to fail, if it is just to see the ECB receive some credibility. Previous stress tests have been in a word lame.\r\n\r\nLooking forward, the FED statement and NZD interest rate announcement and RBNZ rate statement are the two news items that stand out, in my opinion.\r\n\r\nI feel turbulence in the markets on the horizon and the FED moves will be very influential on how the end of the year plays out. If it is not the way I want… then PLAN B will be rolled out immediately.<strong> </strong>\r\n\r\n<strong> </strong>\r\n<ol start=\"2\">\r\n	<li><strong><span style=\"font-size: 14pt;\"> THE PREMIUM SERVICE:  </span></strong></li>\r\n</ol>\r\n<p style=\"text-align: center;\"><span style=\"font-size: 12pt;\"><strong>OVERVIEW, TRADING ACTIVITY, NEWS UPDATE &amp; MONTHLY AND\r\n</strong><strong>YEAR TO DATE TRADING SUMMARIES:</strong></span></p>\r\n<span style=\"text-decoration: underline;\">2.1 OVERVIEW:</span>\r\n\r\nFor 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 the page there are three drop down menus: PREMIUM SERVICE, SIGN-UP and DISCLAIMER. Further details and how to join are all contained there. You will need at PayPal account to subscribe.\r\n\r\n<span style=\"text-decoration: underline;\">2.2 TRADING ACTIVITY:</span>\r\n\r\nI had an excellent week of trading. Only one loss producing trade and my core-position trades started to come back in line with my original direction. Last week I had 3 longer-term trades hedged; this week only 1. My maximum loss is limited to 70 pips. This is well within my RISK TOLERANCE level.\r\n\r\n(Further details on HEDGING, RISK TOLERANCE and RISK MANAGEMENT can be found inside the PREMIUM SERVICE under TRADING ESSENTIALS)\r\n\r\nThere were some great directional trades in the past 5 days that I was able to take advantage of with some excellent multi-lot position sized trades.\r\n\r\nMy “PLAN A” trade plan is in play and subscribers to the PREMIUM SERVICE are aware of my aims/goals with this moving forward. I see many thousands of pips available if this plan plays out.\r\n\r\n<span style=\"text-decoration: underline;\">2.3 MONTHLY AND YEAR TO DATE TRADING SUMMARIES<strong>:</strong></span>\r\n\r\nBelow I show the up to date performances for my various trading styles. Full excel spreadsheets are in the subscriber area of the PREMIUM SERVICE website.\r\n\r\nBelow are the excel spreadsheets covering this month so far and the year 2014 to date.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/10/PREM-SERV-PROFITS1-25102014.png\"><img class=\"aligncenter size-full wp-image-4626\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/10/PREM-SERV-PROFITS1-25102014.png\" alt=\"PREM SERV PROFITS1 25102014\" width=\"463\" height=\"429\" /></a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/10/PREM-SERV-PROFITS2-25102014.png\"><img class=\"aligncenter size-full wp-image-4627\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/10/PREM-SERV-PROFITS2-25102014.png\" alt=\"PREM SERV PROFITS2 25102014\" width=\"463\" height=\"427\" /></a>\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">PLEASE NOTE:</span>\r\n\r\nThe above examples in sections 2.2 and 2.3 are for illustration purposes only. The profitability examples detailed above are based solely upon single lot trading, regardless of lot type. If multiple lot sizes are traded the profitability margins will be different than those shown.\r\n\r\nJust to provide more information so you understand where I am coming from with the risk / reward statements above. All of my trades are of different sizes and different size lot types. The above does not reflect the actual trading performance, but it does show you the direction of the performance of the trades placed. I like to add to trades, profits are taken as the trade progresses and my overall cost average moves several times. All of my trades are of different lot styles. I trade a mixture of micro lots, mini lots and standard lots across my brokers.\r\n\r\nThe above results simply display your profit or loss if you placed a single lot trade on all the set-ups suggested and did nothing else.\r\n\r\nYou must always remember to follow properly executed RISK MANAGEMENT and POSITION SIZING disciplines with all your trades and remember that Forex trading with a high degree of leverage can significantly increase your profits and losses. You should trade with a TRADE PLAN and NOT risk monies that you cannot afford to lose.\r\n\r\n&nbsp;\r\n<ol start=\"3\">\r\n	<li><span style=\"font-size: 14pt;\"><strong> THE VIEW FROM MY TRADING DESK:</strong></span></li>\r\n</ol>\r\n&nbsp;\r\n\r\n&nbsp;\r\n<p style=\"text-align: center;\"><strong><span style=\"font-size: 12pt;\">THE FED IN CONTROL OF POLICY</span>\r\n<span style=\"font-size: 12pt;\"> whilst</span>\r\n<span style=\"font-size: 12pt;\"> THE ECB HOLDS A CAN IN WAITING </span></strong></p>\r\n&nbsp;\r\n\r\nAfter two weeks of some great volatility in the Forex markets, we have now slowed just a little as traders look ahead on their calendars. Another FED event looms and as usual we seem to be driven by the vocabulary that will utilised in the press statement.\r\n\r\nWe have in my opinion two main factors that need to be addresses either by the FED or will be addressed as a result of FED action.\r\n<ol>\r\n	<li>The end of Quantitative Easing (QE).Thisshould be confirmed.If itis confirmed: I think that the USD will strengthen a little.If it is delayed for whatever reason: There will be the rally beyond all rallies in the USD. The DXY will fall through support at 85.13.\r\n(SEE CHART BELOW).\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/10/DXY-25102014.png\"><img class=\"aligncenter size-large wp-image-4625\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/10/DXY-25102014-1024x569.png\" alt=\"DXY 25102014\" width=\"1024\" height=\"569\" /></a></li>\r\n	<li>A commentary on when interest rates will be rising.Recently, we have heard different FED members voice their opinions on the future interest rate policy of the FED. It is a mixed bag of delay orimplement early 2015. JanetYellen has tried to move away from specific economic data guidelines that were in place via her predecessor Ben Bernanke. She is a firm “Dove” in all her approaches and statements that she has made. Her language is one of “long after”…. Nothing will be immediate. If she continuesto bedovish, one has to questionthe relevance of the U.S. economic data presented to us. If she doesn’t see it at positive…. why are the markets reacting to positive data?Should the Fed release wording in the statement that pushes out the date of interest rate rises beyond the early expected 2015 date, the dollar will weaken. If the Fed also states that QE is NOT ending this month the markets will go wild. Does she want this? I think not.</li>\r\n</ol>\r\nOn the flip side to the FED announcement is the reaction in the markets. But apart from the markets reaction, over the hours following the FED statement we should consider the reaction from the ECB.\r\n\r\nShould the FED delay the end of QE and push out interest rate increases I think the ECB would go into meltdown, as the EUR/USD will be heading to 1.3000 again. Then we enter a battle of the central banks… the FED versus the ECB.\r\n\r\nThe ECB reaction would be very interesting indeed, Draghi has already appealed for governments to pull together and work with ECB policy to push for growth. The mere fact that he has to come out and state this says it all as far as I am concerned.\r\n\r\nDraghi has no agreement with Germany over buying ABS and therefore is trying to have something for the next ECB meeting. Last week one ECB official came out and said it was unrealistic for the markets to expect some major initiative from the ECB at every press conference. The scene is being set and “the can” has been bought, they just need to decide what road to kick it down.\r\n\r\nIf the FED action results in USD weakness and the EUR jumps towards 1.3000, it would be a great long from present levels then short trade. However, it could spark a knee-jerk reaction from Berlin, who would, in many eyes be held responsible for the lack of activity so far in agreeing to loosen monetary policy to stimulate EUROZONE growth.\r\n\r\nLet me just slow down a little…. A knee-jerk reaction from Berlin could be March 2015. They would send Draghi out to talk about it for a few months first, hoping that they would not need to do anything and that we would all have forgotten about it.\r\n\r\nIt will be an interesting Wednesday through to Friday next week and then we have the ECB press conference the week after.\r\n<strong> </strong>\r\n<ol start=\"4\">\r\n	<li><span style=\"font-size: 14pt;\"><strong> LOOKING FORWARD…THE KEY SUPPORT &amp; RESISTANCE LEVELS WITH THE USD MAJORS:</strong></span></li>\r\n</ol>\r\n<strong>EUR/USD: Closing Price 1.2670.</strong> We have seen a small drop in price in the past week. There are many news items ahead that will move price with this pair. Whilst the longer-term sentiment is bearish it will be a tough call on what to do with this pair in the short-term. My ultimate belief is that we are heading sub 1.2000, and, I believe that the FED will help the ECB achieve this through rate increases in the U.S. Support is very strong at 1.2600. I have this feeling we head higher first. There are so many great entry points higher for short trades back in the direction of the longer-term trend. Resistance is good at 1.2715 then 1.2765.\r\n\r\n<strong>GBP/USD: Closing Price 1.6088</strong>. After all the shenanigans we end this week almost exactly where we closed the week before. I had a GBP/USD short trade last week and took a mere 20 pips profit from it. The cable was just not moving/acting correctly and I took the trade off the table… a good decision. We are range bound with this pair like so many others so it is set up for range trading for day traders. 1.6000 is great support and 1.6125 is good resistance.\r\n\r\n<strong>AUD/USD: Closing Price 0.8786</strong>. I am confused by the price action with the Aussie. I was expecting a continuation of the fall in value. Instead, we have witnessed a false breakdown lower. I am not certain if this is the case but the price action has surprised me. Support is good at 0.8700 and resistance at 0.8850 and if broken will change my thoughts on how to approach these markets going forward.\r\n\r\n<strong>NZD/USD: Closing Price 0.7845</strong>. The RBNZ must be pleased with the move lower in this currency pair. Also, during the week inflation data showed that there were no inflation concerns in the New Zealand economy therefore calls for further interest rate hikes should now be muted. Therefore, when Graeme Wheeler RBNZ Bank Governor releases his commentary to go with the interest rate decision this Wednesday, he has the ideal opportunity to state that the exchange rate is still too high and that he will continue to intervene in the currency markets. This should send the NZD/USD lower and my GBP/NZD higher…. if he does this he will be on my Christmas card list. Support for now is at 0.7795 and resistance is huge at 0.7995.\r\n\r\n<strong>USD/CAD: Closing Price 1.1230.</strong> Why do I continue to trade the “Loonie?” I seem to have one great trade that blurs my vision and 4 bad trades to follow. I am currently long this pair but my trade is hedged to just a 70 pip loss. Personally, I want to see OIL at $70.00 a barrel very quickly. That would place this pair around 1.1600, I would make a ton of $$$... then I can close the trade. Unfortunately, it is struggling to move past 1.1250! I think that sentiment hasn’t changed despite the best efforts of Poloz, the governor at the BOC, who released a fairy tale last Wednesday aka the official BOC Monetary Policy Report. Support is at 1.1170 and resistance is 1.1300.\r\n\r\n<strong>USD/CHF: Closing Price 0.9518</strong>. This pair is well supported at 0.9400. It has bounced off this level at least 4 times in the past two/three weeks. Support looking into the next few sessions is at 0.9480 and resistance at 0.9560.\r\n\r\n<strong>USD/JPY: Closing Price 108.16. </strong>I am tired of looking at USD/JPY charts and trying to figure out what is the right thing to do… so I do nothing. We have moved up 100+ pips in the past week, but at the back of my mind I have this feeling that it will play the party line and rollover with equities when equities decide to correct properly; hence all my indecision. Looking forward I see 107.50 as good support and 108.65 as good resistance.\r\n\r\n<strong> </strong>\r\n<ol start=\"5\">\r\n	<li><span style=\"font-size: 14pt;\"><strong> MAJOR FOREX NEWS THIS WEEK THAT INTERESTS ME:</strong></span></li>\r\n</ol>\r\n<strong> </strong>\r\n\r\nSUNDAY: EUR – European Bank Stress Tests\r\n\r\nMONDAY: EUR – German IFO Business Climate.\r\n\r\nTUESDAY: USD – Core Durable Goods.\r\nTUESDAY: NZD – ANZ Business Confidence.\r\n\r\nWEDNESDAY: USD – FOMC Statement and Fed Funds Rate\r\nWEDNESDAY: NZD – Interest Rate and RBNZ Rate Statement.\r\nWEDNESDAY: AUD – RBA Economic and Fiscal Outlook.\r\n\r\nTHURSDAY: EUR – German CPi.\r\nTHURSDAY: USD – GDP.\r\nTHURSDAY: AUD – PPi.\r\n\r\nFRIDAY: EUR – CPI estimate.\r\nFRIDAY: CAD - GDP.\r\n\r\n<strong> </strong><strong> </strong>\r\n<ol start=\"6\">\r\n	<li><span style=\"font-size: 14pt;\"><strong> FINAL THOUGHTS:</strong></span></li>\r\n</ol>\r\nThis is a big week for us.\r\n\r\nPersonally my PLAN A will be under scrutiny if the FED weakens the USD beyond the point of no return. Right now there is trend line support at 85.13 on the DXY, there is some leeway in my number but 84.75 on the DXY and I will be on PLAN B. My hope if that I can get long the USD across the board at 85.13 on the DXY.\r\n\r\nMy plan A aside, the FED FOMC statement, ECB Bank Stress Results, ECB - QE with it’s on or off leaks, rumours and denials that go hand in hand with EUROZONE normal business gives us enough to send the USD to hell or heaven within minutes.\r\n\r\nTherefore, my suggestion is to trade smaller position sizes so as to avoid being caught the wrong side of a trade and incur big losses.\r\n\r\nIs the market still directional?\r\n\r\nIn the near future I believe that it will be, but for now we are consolidating. If the FED really moves the market one-way or the other, with a very one-sided statement, that could change. There are overriding factors why the USD (DXY) should strengthen but that doesn’t mean that it has to.\r\n\r\nFrom a trading perspective we should therefore, given the uncertainty and volatility, trade with smaller position sizes and wider stops.\r\n\r\nJust remember; always use the RISK MANAGEMENT principles outlined in the PREMIUM SERVICE web site TRADING ESSENTIALS section to ensure that you do not over-stretch your Forex account. Longevity in the Forex market is only achieved through strong TRADING DISCIPLINES that include effective and strategic POSITION SIZING.\r\n\r\n&nbsp;\r\n\r\nGood Luck.\r\n\r\nScott Pickering\r\nThe Pip Accumulator\r\nSaturday October 25th 2014\r\n\r\nEMAIL / FOLLOW ME AT:\r\ndrivethru@weeklyfxdrivethru.com\r\nTwitter: @pipaccumulator\r\nGoogle+/scottpickering\r\n\r\n<strong>DISCLAIMER:</strong>\r\n\r\nFLASH, 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.','THE FED IN CONTROL OF POLICY whilst THE ECB HOLDS A CAN IN WAITING ','','publish','open','closed','','fed-control-policy-whilst-ecb-holds-can-waiting','','','2014-10-25 06:14:35','2014-10-25 11:14:35','',0,'https://weeklyfxdrivethru.com/?p=4634',0,'post','',0),(4635,1,'2014-10-25 06:13:00','2014-10-25 11:13:00','<strong> </strong>\r\n<ol>\r\n	<li><span style=\"font-size: 14pt;\"><strong> INTRODUCTION:</strong></span></li>\r\n</ol>\r\nI had a great trading week, only one loss making trade, plenty of $$$ and pips plus I have my trading plan, aka PLAN A, in position as always.\r\n\r\nLast week’s main piece in the blog when I talked about Draghi either putting up or resigning created quite a few comments, and, they were equally split 50-50 on whether he should stay or he should go. You can now just imagine the next ECB Press Conference…the scene is set…dry ice and Mario Draghi enters to The Clash pumping out “Should I stay or should I go”. OK… maybe not.\r\n\r\nWe have the ECB Bank stress results being published on Sunday 26<sup>th</sup> October (tomorrow). By the time this blog is posted to the website, there will no doubt be rumour and counter-rumour about the results leaked to the press and the numerous European TV stations. I think the main takeaway from this round of European stress tests is that some banks will have to fail, if it is just to see the ECB receive some credibility. Previous stress tests have been in a word lame.\r\n\r\nLooking forward, the FED statement and NZD interest rate announcement and RBNZ rate statement are the two news items that stand out, in my opinion.\r\n\r\nI feel turbulence in the markets on the horizon and the FED moves will be very influential on how the end of the year plays out. If it is not the way I want… then PLAN B will be rolled out immediately.<strong> </strong>\r\n\r\n<strong> </strong>\r\n<ol start=\"2\">\r\n	<li><strong><span style=\"font-size: 14pt;\"> THE PREMIUM SERVICE:  </span>\r\n\r\n</strong></li>\r\n</ol>\r\n<p style=\"text-align: center;\"><span style=\"font-size: 12pt;\"><strong>OVERVIEW, TRADING ACTIVITY, NEWS UPDATE &amp; MONTHLY AND\r\n</strong><strong>YEAR TO DATE TRADING SUMMARIES:</strong></span></p>\r\n<span style=\"text-decoration: underline;\">2.1 OVERVIEW:</span>\r\n\r\nFor 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 the page there are three drop down menus: PREMIUM SERVICE, SIGN-UP and DISCLAIMER. Further details and how to join are all contained there. You will need at PayPal account to subscribe.\r\n\r\n<span style=\"text-decoration: underline;\">2.2 TRADING ACTIVITY:</span>\r\n\r\nI had an excellent week of trading. Only one loss producing trade and my core-position trades started to come back in line with my original direction. Last week I had 3 longer-term trades hedged; this week only 1. My maximum loss is limited to 70 pips. This is well within my RISK TOLERANCE level.\r\n\r\n(Further details on HEDGING, RISK TOLERANCE and RISK MANAGEMENT can be found inside the PREMIUM SERVICE under TRADING ESSENTIALS)\r\n\r\nThere were some great directional trades in the past 5 days that I was able to take advantage of with some excellent multi-lot position sized trades.\r\n\r\nMy “PLAN A” trade plan is in play and subscribers to the PREMIUM SERVICE are aware of my aims/goals with this moving forward. I see many thousands of pips available if this plan plays out.\r\n\r\n<span style=\"text-decoration: underline;\">2.3 MONTHLY AND YEAR TO DATE TRADING SUMMARIES<strong>:</strong></span>\r\n\r\nBelow I show the up to date performances for my various trading styles. Full excel spreadsheets are in the subscriber area of the PREMIUM SERVICE website.\r\n\r\nBelow are the excel spreadsheets covering this month so far and the year 2014 to date.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/10/PREM-SERV-PROFITS1-25102014.png\"><img class=\"aligncenter size-full wp-image-4626\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/10/PREM-SERV-PROFITS1-25102014.png\" alt=\"PREM SERV PROFITS1 25102014\" width=\"463\" height=\"429\" /></a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/10/PREM-SERV-PROFITS2-25102014.png\"><img class=\"aligncenter size-full wp-image-4627\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/10/PREM-SERV-PROFITS2-25102014.png\" alt=\"PREM SERV PROFITS2 25102014\" width=\"463\" height=\"427\" /></a>\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">PLEASE NOTE:</span>\r\n\r\nThe above examples in sections 2.2 and 2.3 are for illustration purposes only. The profitability examples detailed above are based solely upon single lot trading, regardless of lot type. If multiple lot sizes are traded the profitability margins will be different than those shown.\r\n\r\nJust to provide more information so you understand where I am coming from with the risk / reward statements above. All of my trades are of different sizes and different size lot types. The above does not reflect the actual trading performance, but it does show you the direction of the performance of the trades placed. I like to add to trades, profits are taken as the trade progresses and my overall cost average moves several times. All of my trades are of different lot styles. I trade a mixture of micro lots, mini lots and standard lots across my brokers.\r\n\r\nThe above results simply display your profit or loss if you placed a single lot trade on all the set-ups suggested and did nothing else.\r\n\r\nYou must always remember to follow properly executed RISK MANAGEMENT and POSITION SIZING disciplines with all your trades and remember that Forex trading with a high degree of leverage can significantly increase your profits and losses. You should trade with a TRADE PLAN and NOT risk monies that you cannot afford to lose.\r\n\r\n&nbsp;\r\n<ol start=\"3\">\r\n	<li><span style=\"font-size: 14pt;\"><strong> THE VIEW FROM MY TRADING DESK:</strong></span></li>\r\n</ol>\r\n<em>\r\n\r\n</em>\r\n<p style=\"text-align: center;\"><strong><span style=\"font-size: 12pt;\">THE FED IN CONTROL OF POLICY</span>\r\n<span style=\"font-size: 12pt;\"> whilst</span>\r\n<span style=\"font-size: 12pt;\"> THE ECB HOLDS A CAN IN WAITING </span>\r\n\r\n</strong></p>\r\nAfter two weeks of some great volatility in the Forex markets, we have now slowed just a little as traders look ahead on their calendars. Another FED event looms and as usual we seem to be driven by the vocabulary that will utilised in the press statement.\r\n\r\nWe have in my opinion two main factors that need to be addresses either by the FED or will be addressed as a result of FED action.\r\n<ol>\r\n	<li>The end of Quantitative Easing (QE). This should be confirmed.\r\n\r\nIf it is confirmed: I think that the USD will strengthen a little.\r\n\r\nIf it is delayed for whatever reason: There will be the rally beyond all rallies in the USD. The DXY will fall through support at 85.13.\r\n(SEE CHART BELOW).\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/10/DXY-25102014.png\"><img class=\"aligncenter size-large wp-image-4625\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/10/DXY-25102014-1024x569.png\" alt=\"DXY 25102014\" width=\"1024\" height=\"569\" /></a></li>\r\n	<li>A commentary on when interest rates will be rising.\r\n\r\nRecently, we have heard different FED members voice their opinions on the future interest rate policy of the FED. It is a mixed bag of delay or implement early 2015. Janet Yellen has tried to move away from specific economic data guidelines that were in place via her predecessor Ben Bernanke. She is a firm “Dove” in all her approaches and statements that she has made. Her language is one of “long after”…. Nothing will be immediate. If she continues to be dovish, one has to question the relevance of the U.S. economic data presented to us. If she doesn’t see it at positive…. why are the markets reacting to positive data?\r\n\r\nShould the Fed release wording in the statement that pushes out the date of interest rate rises beyond the early expected 2015 date, the dollar will weaken. If the Fed also states that QE is NOT ending this month the markets will go wild. Does she want this? I think not.</li>\r\n</ol>\r\nOn the flip side to the FED announcement is the reaction in the markets. But apart from the markets reaction, over the hours following the FED statement we should consider the reaction from the ECB.\r\n\r\nShould the FED delay the end of QE and push out interest rate increases I think the ECB would go into meltdown, as the EUR/USD will be heading to 1.3000 again. Then we enter a battle of the central banks… the FED versus the ECB.\r\n\r\nThe ECB reaction would be very interesting indeed, Draghi has already appealed for governments to pull together and work with ECB policy to push for growth. The mere fact that he has to come out and state this says it all as far as I am concerned.\r\n\r\nDraghi has no agreement with Germany over buying ABS and therefore is trying to have something for the next ECB meeting. Last week one ECB official came out and said it was unrealistic for the markets to expect some major initiative from the ECB at every press conference. The scene is being set and “the can” has been bought, they just need to decide what road to kick it down.\r\n\r\nIf the FED action results in USD weakness and the EUR jumps towards 1.3000, it would be a great long from present levels then short trade. However, it could spark a knee-jerk reaction from Berlin, who would, in many eyes be held responsible for the lack of activity so far in agreeing to loosen monetary policy to stimulate EUROZONE growth.\r\n\r\nLet me just slow down a little…. A knee-jerk reaction from Berlin could be March 2015. They would send Draghi out to talk about it for a few months first, hoping that they would not need to do anything and that we would all have forgotten about it.\r\n\r\nIt will be an interesting Wednesday through to Friday next week and then we have the ECB press conference the week after.\r\n<strong> </strong>\r\n<ol start=\"4\">\r\n	<li><span style=\"font-size: 14pt;\"><strong> LOOKING FORWARD…THE KEY SUPPORT &amp; RESISTANCE LEVELS WITH THE USD MAJORS:</strong></span></li>\r\n</ol>\r\n<strong>EUR/USD: Closing Price 1.2670.</strong> We have seen a small drop in price in the past week. There are many news items ahead that will move price with this pair. Whilst the longer-term sentiment is bearish it will be a tough call on what to do with this pair in the short-term. My ultimate belief is that we are heading sub 1.2000, and, I believe that the FED will help the ECB achieve this through rate increases in the U.S. Support is very strong at 1.2600. I have this feeling we head higher first. There are so many great entry points higher for short trades back in the direction of the longer-term trend. Resistance is good at 1.2715 then 1.2765.\r\n\r\n<strong>GBP/USD: Closing Price 1.6088</strong>. After all the shenanigans we end this week almost exactly where we closed the week before. I had a GBP/USD short trade last week and took a mere 20 pips profit from it. The cable was just not moving/acting correctly and I took the trade off the table… a good decision. We are range bound with this pair like so many others so it is set up for range trading for day traders. 1.6000 is great support and 1.6125 is good resistance.\r\n\r\n<strong>AUD/USD: Closing Price 0.8786</strong>. I am confused by the price action with the Aussie. I was expecting a continuation of the fall in value. Instead, we have witnessed a false breakdown lower. I am not certain if this is the case but the price action has surprised me. Support is good at 0.8700 and resistance at 0.8850 and if broken will change my thoughts on how to approach these markets going forward.\r\n\r\n<strong>NZD/USD: Closing Price 0.7845</strong>. The RBNZ must be pleased with the move lower in this currency pair. Also, during the week inflation data showed that there were no inflation concerns in the New Zealand economy therefore calls for further interest rate hikes should now be muted. Therefore, when Graeme Wheeler RBNZ Bank Governor releases his commentary to go with the interest rate decision this Wednesday, he has the ideal opportunity to state that the exchange rate is still too high and that he will continue to intervene in the currency markets. This should send the NZD/USD lower and my GBP/NZD higher…. if he does this he will be on my Christmas card list. Support for now is at 0.7795 and resistance is huge at 0.7995.\r\n\r\n<strong>USD/CAD: Closing Price 1.1230.</strong> Why do I continue to trade the “Loonie?” I seem to have one great trade that blurs my vision and 4 bad trades to follow. I am currently long this pair but my trade is hedged to just a 70 pip loss. Personally, I want to see OIL at $70.00 a barrel very quickly. That would place this pair around 1.1600, I would make a ton of $$$... then I can close the trade. Unfortunately, it is struggling to move past 1.1250! I think that sentiment hasn’t changed despite the best efforts of Poloz, the governor at the BOC, who released a fairy tale last Wednesday aka the official BOC Monetary Policy Report. Support is at 1.1170 and resistance is 1.1300.\r\n\r\n<strong>USD/CHF: Closing Price 0.9518</strong>. This pair is well supported at 0.9400. It has bounced off this level at least 4 times in the past two/three weeks. Support looking into the next few sessions is at 0.9480 and resistance at 0.9560.\r\n\r\n<strong>USD/JPY: Closing Price 108.16. </strong>I am tired of looking at USD/JPY charts and trying to figure out what is the right thing to do… so I do nothing. We have moved up 100+ pips in the past week, but at the back of my mind I have this feeling that it will play the party line and rollover with equities when equities decide to correct properly; hence all my indecision. Looking forward I see 107.50 as good support and 108.65 as good resistance.\r\n\r\n<strong> </strong>\r\n<ol start=\"5\">\r\n	<li><span style=\"font-size: 14pt;\"><strong> MAJOR FOREX NEWS THIS WEEK THAT INTERESTS ME:</strong></span></li>\r\n</ol>\r\n<strong> </strong>\r\n\r\nSUNDAY: EUR – European Bank Stress Tests\r\n\r\nMONDAY: EUR – German IFO Business Climate.\r\n\r\nTUESDAY: USD – Core Durable Goods.\r\nTUESDAY: NZD – ANZ Business Confidence.\r\n\r\nWEDNESDAY: USD – FOMC Statement and Fed Funds Rate\r\nWEDNESDAY: NZD – Interest Rate and RBNZ Rate Statement.\r\nWEDNESDAY: AUD – RBA Economic and Fiscal Outlook.\r\n\r\nTHURSDAY: EUR – German CPi.\r\nTHURSDAY: USD – GDP.\r\nTHURSDAY: AUD – PPi.\r\n\r\nFRIDAY: EUR – CPI estimate.\r\nFRIDAY: CAD - GDP.\r\n\r\n<strong> </strong><strong> </strong>\r\n<ol start=\"6\">\r\n	<li><span style=\"font-size: 14pt;\"><strong> FINAL THOUGHTS:</strong></span></li>\r\n</ol>\r\nThis is a big week for us.\r\n\r\nPersonally my PLAN A will be under scrutiny if the FED weakens the USD beyond the point of no return. Right now there is trend line support at 85.13 on the DXY, there is some leeway in my number but 84.75 on the DXY and I will be on PLAN B. My hope if that I can get long the USD across the board at 85.13 on the DXY.\r\n\r\nMy plan A aside, the FED FOMC statement, ECB Bank Stress Results, ECB - QE with it’s on or off leaks, rumours and denials that go hand in hand with EUROZONE normal business gives us enough to send the USD to hell or heaven within minutes.\r\n\r\nTherefore, my suggestion is to trade smaller position sizes so as to avoid being caught the wrong side of a trade and incur big losses.\r\n\r\nIs the market still directional?\r\n\r\nIn the near future I believe that it will be, but for now we are consolidating. If the FED really moves the market one-way or the other, with a very one-sided statement, that could change. There are overriding factors why the USD (DXY) should strengthen but that doesn’t mean that it has to.\r\n\r\nFrom a trading perspective we should therefore, given the uncertainty and volatility, trade with smaller position sizes and wider stops.\r\n\r\nJust remember; always use the RISK MANAGEMENT principles outlined in the PREMIUM SERVICE web site TRADING ESSENTIALS section to ensure that you do not over-stretch your Forex account. Longevity in the Forex market is only achieved through strong TRADING DISCIPLINES that include effective and strategic POSITION SIZING.\r\n\r\n&nbsp;\r\n\r\nGood Luck.\r\n\r\nScott Pickering\r\nThe Pip Accumulator\r\nSaturday October 25th 2014\r\n\r\nEMAIL / FOLLOW ME AT:\r\ndrivethru@weeklyfxdrivethru.com\r\nTwitter: @pipaccumulator\r\nGoogle+/scottpickering\r\n\r\n<strong>DISCLAIMER:</strong>\r\n\r\nFLASH, 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.','THE FED IN CONTROL OF POLICY whilst THE ECB HOLDS A CAN IN WAITING ','','inherit','open','closed','','4634-revision-v1','','','2014-10-25 06:13:00','2014-10-25 11:13:00','',4634,'https://weeklyfxdrivethru.com/4634-revision-v1/',0,'revision','',0),(4636,1,'2014-10-25 06:14:21','2014-10-25 11:14:21','<strong> </strong>\r\n<ol>\r\n	<li><span style=\"font-size: 14pt;\"><strong> INTRODUCTION:</strong></span></li>\r\n</ol>\r\nI had a great trading week, only one loss making trade, plenty of $$$ and pips plus I have my trading plan, aka PLAN A, in position as always.\r\n\r\nLast week’s main piece in the blog when I talked about Draghi either putting up or resigning created quite a few comments, and, they were equally split 50-50 on whether he should stay or he should go. You can now just imagine the next ECB Press Conference…the scene is set…dry ice and Mario Draghi enters to The Clash pumping out “Should I stay or should I go”. OK… maybe not.\r\n\r\nWe have the ECB Bank stress results being published on Sunday 26<sup>th</sup> October (tomorrow). By the time this blog is posted to the website, there will no doubt be rumour and counter-rumour about the results leaked to the press and the numerous European TV stations. I think the main takeaway from this round of European stress tests is that some banks will have to fail, if it is just to see the ECB receive some credibility. Previous stress tests have been in a word lame.\r\n\r\nLooking forward, the FED statement and NZD interest rate announcement and RBNZ rate statement are the two news items that stand out, in my opinion.\r\n\r\nI feel turbulence in the markets on the horizon and the FED moves will be very influential on how the end of the year plays out. If it is not the way I want… then PLAN B will be rolled out immediately.<strong> </strong>\r\n\r\n<strong> </strong>\r\n<ol start=\"2\">\r\n	<li><strong></strong><strong><span style=\"font-size: 14pt;\"> THE PREMIUM SERVICE:  </span></strong>&nbsp;</li>\r\n</ol>\r\n<p style=\"text-align: center;\"><span style=\"font-size: 12pt;\"><strong>OVERVIEW, TRADING ACTIVITY, NEWS UPDATE &amp; MONTHLY AND\r\n</strong><strong>YEAR TO DATE TRADING SUMMARIES:</strong></span></p>\r\n<span style=\"text-decoration: underline;\">2.1 OVERVIEW:</span>\r\n\r\nFor 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 the page there are three drop down menus: PREMIUM SERVICE, SIGN-UP and DISCLAIMER. Further details and how to join are all contained there. You will need at PayPal account to subscribe.\r\n\r\n<span style=\"text-decoration: underline;\">2.2 TRADING ACTIVITY:</span>\r\n\r\nI had an excellent week of trading. Only one loss producing trade and my core-position trades started to come back in line with my original direction. Last week I had 3 longer-term trades hedged; this week only 1. My maximum loss is limited to 70 pips. This is well within my RISK TOLERANCE level.\r\n\r\n(Further details on HEDGING, RISK TOLERANCE and RISK MANAGEMENT can be found inside the PREMIUM SERVICE under TRADING ESSENTIALS)\r\n\r\nThere were some great directional trades in the past 5 days that I was able to take advantage of with some excellent multi-lot position sized trades.\r\n\r\nMy “PLAN A” trade plan is in play and subscribers to the PREMIUM SERVICE are aware of my aims/goals with this moving forward. I see many thousands of pips available if this plan plays out.\r\n\r\n<span style=\"text-decoration: underline;\">2.3 MONTHLY AND YEAR TO DATE TRADING SUMMARIES<strong>:</strong></span>\r\n\r\nBelow I show the up to date performances for my various trading styles. Full excel spreadsheets are in the subscriber area of the PREMIUM SERVICE website.\r\n\r\nBelow are the excel spreadsheets covering this month so far and the year 2014 to date.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/10/PREM-SERV-PROFITS1-25102014.png\"><img class=\"aligncenter size-full wp-image-4626\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/10/PREM-SERV-PROFITS1-25102014.png\" alt=\"PREM SERV PROFITS1 25102014\" width=\"463\" height=\"429\" /></a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/10/PREM-SERV-PROFITS2-25102014.png\"><img class=\"aligncenter size-full wp-image-4627\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/10/PREM-SERV-PROFITS2-25102014.png\" alt=\"PREM SERV PROFITS2 25102014\" width=\"463\" height=\"427\" /></a>\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">PLEASE NOTE:</span>\r\n\r\nThe above examples in sections 2.2 and 2.3 are for illustration purposes only. The profitability examples detailed above are based solely upon single lot trading, regardless of lot type. If multiple lot sizes are traded the profitability margins will be different than those shown.\r\n\r\nJust to provide more information so you understand where I am coming from with the risk / reward statements above. All of my trades are of different sizes and different size lot types. The above does not reflect the actual trading performance, but it does show you the direction of the performance of the trades placed. I like to add to trades, profits are taken as the trade progresses and my overall cost average moves several times. All of my trades are of different lot styles. I trade a mixture of micro lots, mini lots and standard lots across my brokers.\r\n\r\nThe above results simply display your profit or loss if you placed a single lot trade on all the set-ups suggested and did nothing else.\r\n\r\nYou must always remember to follow properly executed RISK MANAGEMENT and POSITION SIZING disciplines with all your trades and remember that Forex trading with a high degree of leverage can significantly increase your profits and losses. You should trade with a TRADE PLAN and NOT risk monies that you cannot afford to lose.\r\n\r\n&nbsp;\r\n<ol start=\"3\">\r\n	<li><span style=\"font-size: 14pt;\"><strong> THE VIEW FROM MY TRADING DESK:</strong></span></li>\r\n</ol>\r\n&nbsp;\r\n\r\n&nbsp;\r\n<p style=\"text-align: center;\"><strong><span style=\"font-size: 12pt;\">THE FED IN CONTROL OF POLICY</span>\r\n<span style=\"font-size: 12pt;\"> whilst</span>\r\n<span style=\"font-size: 12pt;\"> THE ECB HOLDS A CAN IN WAITING </span></strong></p>\r\n&nbsp;\r\n\r\nAfter two weeks of some great volatility in the Forex markets, we have now slowed just a little as traders look ahead on their calendars. Another FED event looms and as usual we seem to be driven by the vocabulary that will utilised in the press statement.\r\n\r\nWe have in my opinion two main factors that need to be addresses either by the FED or will be addressed as a result of FED action.\r\n<ol>\r\n	<li>The end of Quantitative Easing (QE). Thisshould be confirmed.If it is confirmed: I think that the USD will strengthen a little.\r\n\r\nIf it is delayed for whatever reason: There will be the rally beyond all rallies in the USD. The DXY will fall through support at 85.13.\r\n(SEE CHART BELOW).\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/10/DXY-25102014.png\"><img class=\"aligncenter size-large wp-image-4625\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/10/DXY-25102014-1024x569.png\" alt=\"DXY 25102014\" width=\"1024\" height=\"569\" /></a></li>\r\n	<li>A commentary on when interest rates will be rising.Recently, we have heard different FED members voice their opinions on the future interest rate policy of the FED. It is a mixed bag of delay or implement early 2015. Janet Yellen has tried to move away from specific economic data guidelines that were in place via her predecessor Ben Bernanke. She is a firm “Dove” in all her approaches and statements that she has made. Her language is one of “long after”…. Nothing will be immediate. If she continues to be dovish, one has to question the relevance of the U.S. economic data presented to us. If she doesn’t see it at positive…. why are the markets reacting to positive data?\r\n\r\nShould the Fed release wording in the statement that pushes out the date of interest rate rises beyond the early expected 2015 date, the dollar will weaken. If the Fed also states that QE is NOT ending this month the markets will go wild. Does she want this? I think not.</li>\r\n</ol>\r\nOn the flip side to the FED announcement is the reaction in the markets. But apart from the markets reaction, over the hours following the FED statement we should consider the reaction from the ECB.\r\n\r\nShould the FED delay the end of QE and push out interest rate increases I think the ECB would go into meltdown, as the EUR/USD will be heading to 1.3000 again. Then we enter a battle of the central banks… the FED versus the ECB.\r\n\r\nThe ECB reaction would be very interesting indeed, Draghi has already appealed for governments to pull together and work with ECB policy to push for growth. The mere fact that he has to come out and state this says it all as far as I am concerned.\r\n\r\nDraghi has no agreement with Germany over buying ABS and therefore is trying to have something for the next ECB meeting. Last week one ECB official came out and said it was unrealistic for the markets to expect some major initiative from the ECB at every press conference. The scene is being set and “the can” has been bought, they just need to decide what road to kick it down.\r\n\r\nIf the FED action results in USD weakness and the EUR jumps towards 1.3000, it would be a great long from present levels then short trade. However, it could spark a knee-jerk reaction from Berlin, who would, in many eyes be held responsible for the lack of activity so far in agreeing to loosen monetary policy to stimulate EUROZONE growth.\r\n\r\nLet me just slow down a little…. A knee-jerk reaction from Berlin could be March 2015. They would send Draghi out to talk about it for a few months first, hoping that they would not need to do anything and that we would all have forgotten about it.\r\n\r\nIt will be an interesting Wednesday through to Friday next week and then we have the ECB press conference the week after.\r\n<strong> </strong>\r\n<ol start=\"4\">\r\n	<li><span style=\"font-size: 14pt;\"><strong> LOOKING FORWARD…THE KEY SUPPORT &amp; RESISTANCE LEVELS WITH THE USD MAJORS:</strong></span></li>\r\n</ol>\r\n<strong>EUR/USD: Closing Price 1.2670.</strong> We have seen a small drop in price in the past week. There are many news items ahead that will move price with this pair. Whilst the longer-term sentiment is bearish it will be a tough call on what to do with this pair in the short-term. My ultimate belief is that we are heading sub 1.2000, and, I believe that the FED will help the ECB achieve this through rate increases in the U.S. Support is very strong at 1.2600. I have this feeling we head higher first. There are so many great entry points higher for short trades back in the direction of the longer-term trend. Resistance is good at 1.2715 then 1.2765.\r\n\r\n<strong>GBP/USD: Closing Price 1.6088</strong>. After all the shenanigans we end this week almost exactly where we closed the week before. I had a GBP/USD short trade last week and took a mere 20 pips profit from it. The cable was just not moving/acting correctly and I took the trade off the table… a good decision. We are range bound with this pair like so many others so it is set up for range trading for day traders. 1.6000 is great support and 1.6125 is good resistance.\r\n\r\n<strong>AUD/USD: Closing Price 0.8786</strong>. I am confused by the price action with the Aussie. I was expecting a continuation of the fall in value. Instead, we have witnessed a false breakdown lower. I am not certain if this is the case but the price action has surprised me. Support is good at 0.8700 and resistance at 0.8850 and if broken will change my thoughts on how to approach these markets going forward.\r\n\r\n<strong>NZD/USD: Closing Price 0.7845</strong>. The RBNZ must be pleased with the move lower in this currency pair. Also, during the week inflation data showed that there were no inflation concerns in the New Zealand economy therefore calls for further interest rate hikes should now be muted. Therefore, when Graeme Wheeler RBNZ Bank Governor releases his commentary to go with the interest rate decision this Wednesday, he has the ideal opportunity to state that the exchange rate is still too high and that he will continue to intervene in the currency markets. This should send the NZD/USD lower and my GBP/NZD higher…. if he does this he will be on my Christmas card list. Support for now is at 0.7795 and resistance is huge at 0.7995.\r\n\r\n<strong>USD/CAD: Closing Price 1.1230.</strong> Why do I continue to trade the “Loonie?” I seem to have one great trade that blurs my vision and 4 bad trades to follow. I am currently long this pair but my trade is hedged to just a 70 pip loss. Personally, I want to see OIL at $70.00 a barrel very quickly. That would place this pair around 1.1600, I would make a ton of $$$... then I can close the trade. Unfortunately, it is struggling to move past 1.1250! I think that sentiment hasn’t changed despite the best efforts of Poloz, the governor at the BOC, who released a fairy tale last Wednesday aka the official BOC Monetary Policy Report. Support is at 1.1170 and resistance is 1.1300.\r\n\r\n<strong>USD/CHF: Closing Price 0.9518</strong>. This pair is well supported at 0.9400. It has bounced off this level at least 4 times in the past two/three weeks. Support looking into the next few sessions is at 0.9480 and resistance at 0.9560.\r\n\r\n<strong>USD/JPY: Closing Price 108.16. </strong>I am tired of looking at USD/JPY charts and trying to figure out what is the right thing to do… so I do nothing. We have moved up 100+ pips in the past week, but at the back of my mind I have this feeling that it will play the party line and rollover with equities when equities decide to correct properly; hence all my indecision. Looking forward I see 107.50 as good support and 108.65 as good resistance.\r\n\r\n<strong> </strong>\r\n<ol start=\"5\">\r\n	<li><span style=\"font-size: 14pt;\"><strong> MAJOR FOREX NEWS THIS WEEK THAT INTERESTS ME:</strong></span></li>\r\n</ol>\r\n<strong> </strong>\r\n\r\nSUNDAY: EUR – European Bank Stress Tests\r\n\r\nMONDAY: EUR – German IFO Business Climate.\r\n\r\nTUESDAY: USD – Core Durable Goods.\r\nTUESDAY: NZD – ANZ Business Confidence.\r\n\r\nWEDNESDAY: USD – FOMC Statement and Fed Funds Rate\r\nWEDNESDAY: NZD – Interest Rate and RBNZ Rate Statement.\r\nWEDNESDAY: AUD – RBA Economic and Fiscal Outlook.\r\n\r\nTHURSDAY: EUR – German CPi.\r\nTHURSDAY: USD – GDP.\r\nTHURSDAY: AUD – PPi.\r\n\r\nFRIDAY: EUR – CPI estimate.\r\nFRIDAY: CAD - GDP.\r\n\r\n<strong> </strong><strong> </strong>\r\n<ol start=\"6\">\r\n	<li><span style=\"font-size: 14pt;\"><strong> FINAL THOUGHTS:</strong></span></li>\r\n</ol>\r\nThis is a big week for us.\r\n\r\nPersonally my PLAN A will be under scrutiny if the FED weakens the USD beyond the point of no return. Right now there is trend line support at 85.13 on the DXY, there is some leeway in my number but 84.75 on the DXY and I will be on PLAN B. My hope if that I can get long the USD across the board at 85.13 on the DXY.\r\n\r\nMy plan A aside, the FED FOMC statement, ECB Bank Stress Results, ECB - QE with it’s on or off leaks, rumours and denials that go hand in hand with EUROZONE normal business gives us enough to send the USD to hell or heaven within minutes.\r\n\r\nTherefore, my suggestion is to trade smaller position sizes so as to avoid being caught the wrong side of a trade and incur big losses.\r\n\r\nIs the market still directional?\r\n\r\nIn the near future I believe that it will be, but for now we are consolidating. If the FED really moves the market one-way or the other, with a very one-sided statement, that could change. There are overriding factors why the USD (DXY) should strengthen but that doesn’t mean that it has to.\r\n\r\nFrom a trading perspective we should therefore, given the uncertainty and volatility, trade with smaller position sizes and wider stops.\r\n\r\nJust remember; always use the RISK MANAGEMENT principles outlined in the PREMIUM SERVICE web site TRADING ESSENTIALS section to ensure that you do not over-stretch your Forex account. Longevity in the Forex market is only achieved through strong TRADING DISCIPLINES that include effective and strategic POSITION SIZING.\r\n\r\n&nbsp;\r\n\r\nGood Luck.\r\n\r\nScott Pickering\r\nThe Pip Accumulator\r\nSaturday October 25th 2014\r\n\r\nEMAIL / FOLLOW ME AT:\r\ndrivethru@weeklyfxdrivethru.com\r\nTwitter: @pipaccumulator\r\nGoogle+/scottpickering\r\n\r\n<strong>DISCLAIMER:</strong>\r\n\r\nFLASH, 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.','THE FED IN CONTROL OF POLICY whilst THE ECB HOLDS A CAN IN WAITING ','','inherit','open','closed','','4634-revision-v1','','','2014-10-25 06:14:21','2014-10-25 11:14:21','',4634,'https://weeklyfxdrivethru.com/4634-revision-v1/',0,'revision','',0),(4637,1,'2014-10-25 06:14:35','2014-10-25 11:14:35','<strong> </strong>\r\n<ol>\r\n	<li><span style=\"font-size: 14pt;\"><strong> INTRODUCTION:</strong></span></li>\r\n</ol>\r\nI had a great trading week, only one loss making trade, plenty of $$$ and pips plus I have my trading plan, aka PLAN A, in position as always.\r\n\r\nLast week’s main piece in the blog when I talked about Draghi either putting up or resigning created quite a few comments, and, they were equally split 50-50 on whether he should stay or he should go. You can now just imagine the next ECB Press Conference…the scene is set…dry ice and Mario Draghi enters to The Clash pumping out “Should I stay or should I go”. OK… maybe not.\r\n\r\nWe have the ECB Bank stress results being published on Sunday 26<sup>th</sup> October (tomorrow). By the time this blog is posted to the website, there will no doubt be rumour and counter-rumour about the results leaked to the press and the numerous European TV stations. I think the main takeaway from this round of European stress tests is that some banks will have to fail, if it is just to see the ECB receive some credibility. Previous stress tests have been in a word lame.\r\n\r\nLooking forward, the FED statement and NZD interest rate announcement and RBNZ rate statement are the two news items that stand out, in my opinion.\r\n\r\nI feel turbulence in the markets on the horizon and the FED moves will be very influential on how the end of the year plays out. If it is not the way I want… then PLAN B will be rolled out immediately.<strong> </strong>\r\n\r\n<strong> </strong>\r\n<ol start=\"2\">\r\n	<li><strong><span style=\"font-size: 14pt;\"> THE PREMIUM SERVICE:  </span></strong></li>\r\n</ol>\r\n<p style=\"text-align: center;\"><span style=\"font-size: 12pt;\"><strong>OVERVIEW, TRADING ACTIVITY, NEWS UPDATE &amp; MONTHLY AND\r\n</strong><strong>YEAR TO DATE TRADING SUMMARIES:</strong></span></p>\r\n<span style=\"text-decoration: underline;\">2.1 OVERVIEW:</span>\r\n\r\nFor 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 the page there are three drop down menus: PREMIUM SERVICE, SIGN-UP and DISCLAIMER. Further details and how to join are all contained there. You will need at PayPal account to subscribe.\r\n\r\n<span style=\"text-decoration: underline;\">2.2 TRADING ACTIVITY:</span>\r\n\r\nI had an excellent week of trading. Only one loss producing trade and my core-position trades started to come back in line with my original direction. Last week I had 3 longer-term trades hedged; this week only 1. My maximum loss is limited to 70 pips. This is well within my RISK TOLERANCE level.\r\n\r\n(Further details on HEDGING, RISK TOLERANCE and RISK MANAGEMENT can be found inside the PREMIUM SERVICE under TRADING ESSENTIALS)\r\n\r\nThere were some great directional trades in the past 5 days that I was able to take advantage of with some excellent multi-lot position sized trades.\r\n\r\nMy “PLAN A” trade plan is in play and subscribers to the PREMIUM SERVICE are aware of my aims/goals with this moving forward. I see many thousands of pips available if this plan plays out.\r\n\r\n<span style=\"text-decoration: underline;\">2.3 MONTHLY AND YEAR TO DATE TRADING SUMMARIES<strong>:</strong></span>\r\n\r\nBelow I show the up to date performances for my various trading styles. Full excel spreadsheets are in the subscriber area of the PREMIUM SERVICE website.\r\n\r\nBelow are the excel spreadsheets covering this month so far and the year 2014 to date.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/10/PREM-SERV-PROFITS1-25102014.png\"><img class=\"aligncenter size-full wp-image-4626\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/10/PREM-SERV-PROFITS1-25102014.png\" alt=\"PREM SERV PROFITS1 25102014\" width=\"463\" height=\"429\" /></a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/10/PREM-SERV-PROFITS2-25102014.png\"><img class=\"aligncenter size-full wp-image-4627\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/10/PREM-SERV-PROFITS2-25102014.png\" alt=\"PREM SERV PROFITS2 25102014\" width=\"463\" height=\"427\" /></a>\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">PLEASE NOTE:</span>\r\n\r\nThe above examples in sections 2.2 and 2.3 are for illustration purposes only. The profitability examples detailed above are based solely upon single lot trading, regardless of lot type. If multiple lot sizes are traded the profitability margins will be different than those shown.\r\n\r\nJust to provide more information so you understand where I am coming from with the risk / reward statements above. All of my trades are of different sizes and different size lot types. The above does not reflect the actual trading performance, but it does show you the direction of the performance of the trades placed. I like to add to trades, profits are taken as the trade progresses and my overall cost average moves several times. All of my trades are of different lot styles. I trade a mixture of micro lots, mini lots and standard lots across my brokers.\r\n\r\nThe above results simply display your profit or loss if you placed a single lot trade on all the set-ups suggested and did nothing else.\r\n\r\nYou must always remember to follow properly executed RISK MANAGEMENT and POSITION SIZING disciplines with all your trades and remember that Forex trading with a high degree of leverage can significantly increase your profits and losses. You should trade with a TRADE PLAN and NOT risk monies that you cannot afford to lose.\r\n\r\n&nbsp;\r\n<ol start=\"3\">\r\n	<li><span style=\"font-size: 14pt;\"><strong> THE VIEW FROM MY TRADING DESK:</strong></span></li>\r\n</ol>\r\n&nbsp;\r\n\r\n&nbsp;\r\n<p style=\"text-align: center;\"><strong><span style=\"font-size: 12pt;\">THE FED IN CONTROL OF POLICY</span>\r\n<span style=\"font-size: 12pt;\"> whilst</span>\r\n<span style=\"font-size: 12pt;\"> THE ECB HOLDS A CAN IN WAITING </span></strong></p>\r\n&nbsp;\r\n\r\nAfter two weeks of some great volatility in the Forex markets, we have now slowed just a little as traders look ahead on their calendars. Another FED event looms and as usual we seem to be driven by the vocabulary that will utilised in the press statement.\r\n\r\nWe have in my opinion two main factors that need to be addresses either by the FED or will be addressed as a result of FED action.\r\n<ol>\r\n	<li>The end of Quantitative Easing (QE).Thisshould be confirmed.If itis confirmed: I think that the USD will strengthen a little.If it is delayed for whatever reason: There will be the rally beyond all rallies in the USD. The DXY will fall through support at 85.13.\r\n(SEE CHART BELOW).\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/10/DXY-25102014.png\"><img class=\"aligncenter size-large wp-image-4625\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/10/DXY-25102014-1024x569.png\" alt=\"DXY 25102014\" width=\"1024\" height=\"569\" /></a></li>\r\n	<li>A commentary on when interest rates will be rising.Recently, we have heard different FED members voice their opinions on the future interest rate policy of the FED. It is a mixed bag of delay orimplement early 2015. JanetYellen has tried to move away from specific economic data guidelines that were in place via her predecessor Ben Bernanke. She is a firm “Dove” in all her approaches and statements that she has made. Her language is one of “long after”…. Nothing will be immediate. If she continuesto bedovish, one has to questionthe relevance of the U.S. economic data presented to us. If she doesn’t see it at positive…. why are the markets reacting to positive data?Should the Fed release wording in the statement that pushes out the date of interest rate rises beyond the early expected 2015 date, the dollar will weaken. If the Fed also states that QE is NOT ending this month the markets will go wild. Does she want this? I think not.</li>\r\n</ol>\r\nOn the flip side to the FED announcement is the reaction in the markets. But apart from the markets reaction, over the hours following the FED statement we should consider the reaction from the ECB.\r\n\r\nShould the FED delay the end of QE and push out interest rate increases I think the ECB would go into meltdown, as the EUR/USD will be heading to 1.3000 again. Then we enter a battle of the central banks… the FED versus the ECB.\r\n\r\nThe ECB reaction would be very interesting indeed, Draghi has already appealed for governments to pull together and work with ECB policy to push for growth. The mere fact that he has to come out and state this says it all as far as I am concerned.\r\n\r\nDraghi has no agreement with Germany over buying ABS and therefore is trying to have something for the next ECB meeting. Last week one ECB official came out and said it was unrealistic for the markets to expect some major initiative from the ECB at every press conference. The scene is being set and “the can” has been bought, they just need to decide what road to kick it down.\r\n\r\nIf the FED action results in USD weakness and the EUR jumps towards 1.3000, it would be a great long from present levels then short trade. However, it could spark a knee-jerk reaction from Berlin, who would, in many eyes be held responsible for the lack of activity so far in agreeing to loosen monetary policy to stimulate EUROZONE growth.\r\n\r\nLet me just slow down a little…. A knee-jerk reaction from Berlin could be March 2015. They would send Draghi out to talk about it for a few months first, hoping that they would not need to do anything and that we would all have forgotten about it.\r\n\r\nIt will be an interesting Wednesday through to Friday next week and then we have the ECB press conference the week after.\r\n<strong> </strong>\r\n<ol start=\"4\">\r\n	<li><span style=\"font-size: 14pt;\"><strong> LOOKING FORWARD…THE KEY SUPPORT &amp; RESISTANCE LEVELS WITH THE USD MAJORS:</strong></span></li>\r\n</ol>\r\n<strong>EUR/USD: Closing Price 1.2670.</strong> We have seen a small drop in price in the past week. There are many news items ahead that will move price with this pair. Whilst the longer-term sentiment is bearish it will be a tough call on what to do with this pair in the short-term. My ultimate belief is that we are heading sub 1.2000, and, I believe that the FED will help the ECB achieve this through rate increases in the U.S. Support is very strong at 1.2600. I have this feeling we head higher first. There are so many great entry points higher for short trades back in the direction of the longer-term trend. Resistance is good at 1.2715 then 1.2765.\r\n\r\n<strong>GBP/USD: Closing Price 1.6088</strong>. After all the shenanigans we end this week almost exactly where we closed the week before. I had a GBP/USD short trade last week and took a mere 20 pips profit from it. The cable was just not moving/acting correctly and I took the trade off the table… a good decision. We are range bound with this pair like so many others so it is set up for range trading for day traders. 1.6000 is great support and 1.6125 is good resistance.\r\n\r\n<strong>AUD/USD: Closing Price 0.8786</strong>. I am confused by the price action with the Aussie. I was expecting a continuation of the fall in value. Instead, we have witnessed a false breakdown lower. I am not certain if this is the case but the price action has surprised me. Support is good at 0.8700 and resistance at 0.8850 and if broken will change my thoughts on how to approach these markets going forward.\r\n\r\n<strong>NZD/USD: Closing Price 0.7845</strong>. The RBNZ must be pleased with the move lower in this currency pair. Also, during the week inflation data showed that there were no inflation concerns in the New Zealand economy therefore calls for further interest rate hikes should now be muted. Therefore, when Graeme Wheeler RBNZ Bank Governor releases his commentary to go with the interest rate decision this Wednesday, he has the ideal opportunity to state that the exchange rate is still too high and that he will continue to intervene in the currency markets. This should send the NZD/USD lower and my GBP/NZD higher…. if he does this he will be on my Christmas card list. Support for now is at 0.7795 and resistance is huge at 0.7995.\r\n\r\n<strong>USD/CAD: Closing Price 1.1230.</strong> Why do I continue to trade the “Loonie?” I seem to have one great trade that blurs my vision and 4 bad trades to follow. I am currently long this pair but my trade is hedged to just a 70 pip loss. Personally, I want to see OIL at $70.00 a barrel very quickly. That would place this pair around 1.1600, I would make a ton of $$$... then I can close the trade. Unfortunately, it is struggling to move past 1.1250! I think that sentiment hasn’t changed despite the best efforts of Poloz, the governor at the BOC, who released a fairy tale last Wednesday aka the official BOC Monetary Policy Report. Support is at 1.1170 and resistance is 1.1300.\r\n\r\n<strong>USD/CHF: Closing Price 0.9518</strong>. This pair is well supported at 0.9400. It has bounced off this level at least 4 times in the past two/three weeks. Support looking into the next few sessions is at 0.9480 and resistance at 0.9560.\r\n\r\n<strong>USD/JPY: Closing Price 108.16. </strong>I am tired of looking at USD/JPY charts and trying to figure out what is the right thing to do… so I do nothing. We have moved up 100+ pips in the past week, but at the back of my mind I have this feeling that it will play the party line and rollover with equities when equities decide to correct properly; hence all my indecision. Looking forward I see 107.50 as good support and 108.65 as good resistance.\r\n\r\n<strong> </strong>\r\n<ol start=\"5\">\r\n	<li><span style=\"font-size: 14pt;\"><strong> MAJOR FOREX NEWS THIS WEEK THAT INTERESTS ME:</strong></span></li>\r\n</ol>\r\n<strong> </strong>\r\n\r\nSUNDAY: EUR – European Bank Stress Tests\r\n\r\nMONDAY: EUR – German IFO Business Climate.\r\n\r\nTUESDAY: USD – Core Durable Goods.\r\nTUESDAY: NZD – ANZ Business Confidence.\r\n\r\nWEDNESDAY: USD – FOMC Statement and Fed Funds Rate\r\nWEDNESDAY: NZD – Interest Rate and RBNZ Rate Statement.\r\nWEDNESDAY: AUD – RBA Economic and Fiscal Outlook.\r\n\r\nTHURSDAY: EUR – German CPi.\r\nTHURSDAY: USD – GDP.\r\nTHURSDAY: AUD – PPi.\r\n\r\nFRIDAY: EUR – CPI estimate.\r\nFRIDAY: CAD - GDP.\r\n\r\n<strong> </strong><strong> </strong>\r\n<ol start=\"6\">\r\n	<li><span style=\"font-size: 14pt;\"><strong> FINAL THOUGHTS:</strong></span></li>\r\n</ol>\r\nThis is a big week for us.\r\n\r\nPersonally my PLAN A will be under scrutiny if the FED weakens the USD beyond the point of no return. Right now there is trend line support at 85.13 on the DXY, there is some leeway in my number but 84.75 on the DXY and I will be on PLAN B. My hope if that I can get long the USD across the board at 85.13 on the DXY.\r\n\r\nMy plan A aside, the FED FOMC statement, ECB Bank Stress Results, ECB - QE with it’s on or off leaks, rumours and denials that go hand in hand with EUROZONE normal business gives us enough to send the USD to hell or heaven within minutes.\r\n\r\nTherefore, my suggestion is to trade smaller position sizes so as to avoid being caught the wrong side of a trade and incur big losses.\r\n\r\nIs the market still directional?\r\n\r\nIn the near future I believe that it will be, but for now we are consolidating. If the FED really moves the market one-way or the other, with a very one-sided statement, that could change. There are overriding factors why the USD (DXY) should strengthen but that doesn’t mean that it has to.\r\n\r\nFrom a trading perspective we should therefore, given the uncertainty and volatility, trade with smaller position sizes and wider stops.\r\n\r\nJust remember; always use the RISK MANAGEMENT principles outlined in the PREMIUM SERVICE web site TRADING ESSENTIALS section to ensure that you do not over-stretch your Forex account. Longevity in the Forex market is only achieved through strong TRADING DISCIPLINES that include effective and strategic POSITION SIZING.\r\n\r\n&nbsp;\r\n\r\nGood Luck.\r\n\r\nScott Pickering\r\nThe Pip Accumulator\r\nSaturday October 25th 2014\r\n\r\nEMAIL / FOLLOW ME AT:\r\ndrivethru@weeklyfxdrivethru.com\r\nTwitter: @pipaccumulator\r\nGoogle+/scottpickering\r\n\r\n<strong>DISCLAIMER:</strong>\r\n\r\nFLASH, 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.','THE FED IN CONTROL OF POLICY whilst THE ECB HOLDS A CAN IN WAITING ','','inherit','open','closed','','4634-revision-v1','','','2014-10-25 06:14:35','2014-10-25 11:14:35','',4634,'https://weeklyfxdrivethru.com/4634-revision-v1/',0,'revision','',0),(4638,1,'2014-10-27 07:23:51','2014-10-27 12:23:51','<strong><span style=\"font-size: 14pt;\">THE DAILY FX POST</span>\r\n<span style=\"font-size: 14pt;\"> from</span>\r\n<span style=\"font-size: 14pt;\"> THE PREMIUM SERVICE</span></strong>\r\n\r\n&nbsp;\r\n\r\n<strong>DATE: Monday 27th October 2014\r\nREF: #115</strong>\r\n\r\n&nbsp;\r\n<ol>\r\n	<li><span style=\"font-size: 12pt;\"><strong> OVERVIEW – INITIAL THOUGHTS:</strong></span></li>\r\n</ol>\r\nGood morning and welcome to the new subscribers from over the weekend.\r\n\r\nI just want to use this opportunity for those of you that do not use Twitter. The vast majority of trade set ups and trade amendments are delivered via twitter and not through this blog or the WEEKLY FX DRIVE THRU. There about 20 of you that are not signed up on twitter. I know that some of you, because I have spoken with you, that are just not social media orientated and are not interested in twitter. Regards the remainder, please give this matter some thought.\r\n\r\nMoving on….\r\n\r\nIn the weekend blog I noted four potential trades.\r\n\r\nEUR/USD\r\nGBP/USD\r\nNZD/USD\r\nand\r\nUSD/CHF\r\n\r\nI did not place these trades with my brokers. The EUR/USD would have missed triggering by 1 pip, the USD/CHF would not have triggered but the NZD/USD and GBP/USD both would have started, but with only very slight gains.\r\n\r\nI decided early this morning (EDT) not to enter trades in the European session, as there was nothing happening. It was just so boring, I just went back to sleep. Trading ranges have been minimal to say the least. I wonder are we going to see nothing at all until the FED on Wednesday?\r\n\r\nHaving just said that, I keep looking at the EUR/USD and I am thinking was 1.2714 the highs….\r\n\r\nI know already that some of you guys took the WEEKLY FX DRIVE THRU trades and I could just enter them now with my brokers, and tweet them, as we are so close to the posted entry levels.\r\n\r\nLooking around the markets, European and Asian bourses were mainly RED overnight, U.S. equities basically flat; Oil moving lower again, GOLD slightly lower and COPPER slightly in the green.\r\n\r\nIt looks very slow to me at the moment, not a great deal to do. I have a great deal of chart analysis under my belt already on commodity crosses and Nordic currencies as well. Whilst my time has not been wasted I am not 100% convinced to enter this market with more trades at the present time.\r\n\r\nI am however only really looking for 30 pips day trades until the FED, so if we see signs of life, I will enter.\r\n\r\nI will tweet my updated thoughts later.\r\n\r\n<strong> </strong>\r\n<ol start=\"2\">\r\n	<li><span style=\"font-size: 12pt;\"><strong> KEY NEWS EVENTS NEXT 24 hours (BASED UPON (NYC) EDT TIME:</strong></span></li>\r\n</ol>\r\nNothing.\r\n\r\n<strong> </strong><strong> </strong>\r\n<ol start=\"3\">\r\n	<li><span style=\"font-size: 12pt;\"><strong> EXISTING LIVE TRADES:</strong></span></li>\r\n</ol>\r\n&nbsp;\r\n\r\n<strong>RADAR TRADES:</strong>\r\n\r\nThere are no LIVE RADAR TRADES at the present time.\r\n\r\n<strong> </strong>\r\n\r\n<strong>FLASH TRADES:</strong>\r\n\r\nFT190\r\nNZD/USD\r\nShort at 0.7793\r\nStop at 0.8050\r\nLimit at 0.6580\r\nPrice Now: 0.7869\r\nCurrent Profit / Loss Position: - 76 pips\r\n\r\nFT202\r\nUSD/CAD\r\nLong at 1.1340\r\nStop at 1.1170\r\nLimit at 1.1570\r\nPrice Now: 1.1234\r\nCurrent Profit / Loss Position: -106 pips\r\n(This pair is hedged from -70 pips)\r\n\r\nFT209\r\nAUD/USD\r\nShort at 0.8785\r\nStop at 0.8850\r\nLimit at 0.8000\r\nPrice Now: 0.8804\r\nCurrent Profit / Loss Position: -19 pips\r\n\r\n&nbsp;\r\n\r\n<strong>FUNDAMENTAL TRADES:</strong>\r\n\r\nFUN44\r\nGBP/NZD\r\nLong at 2.0507\r\nStop at 1.9800\r\nLimit at 2.3200\r\nPrice Now: 2.0460\r\nCurrent Profit / Loss Position: -47 pips\r\n<strong> </strong>\r\n<ol start=\"4\">\r\n	<li><span style=\"font-size: 12pt;\"><strong> LIMIT &amp; STOP ORDERS WITH BROKERS:</strong></span></li>\r\n</ol>\r\nThere are no LIMIT ORDERS with my brokers at this present time.\r\n\r\n&nbsp;\r\n\r\nGood luck today.\r\n\r\nScott Pickering\r\nThe Pip Accumulator\r\n<a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a>\r\nTwitter: @ThePremService\r\nEmail: premiumserice@weeklyfxdrivethru.com\r\n\r\n<strong>DISCLAIMER:</strong>\r\n\r\nFLASH, 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.','#115 - THE DAILY FX POST, Monday 27th October 2014','','publish','open','closed','','115-daily-fx-post-monday-27th-october-2014','','','2014-10-27 07:23:51','2014-10-27 12:23:51','',0,'https://weeklyfxdrivethru.com/?post_type=member_posts&#038;p=4638',0,'member_posts','',0),(4639,1,'2014-10-27 07:22:52','2014-10-27 12:22:52','<strong><span style=\"font-size: 14pt;\">THE DAILY FX POST</span>\r\n<span style=\"font-size: 14pt;\"> from</span>\r\n<span style=\"font-size: 14pt;\"> THE PREMIUM SERVICE</span>\r\n\r\n</strong>\r\n\r\n<strong>DATE: Monday 27th October 2014\r\nREF: #115</strong>\r\n\r\n&nbsp;\r\n<ol>\r\n	<li><span style=\"font-size: 12pt;\"><strong> OVERVIEW – INITIAL THOUGHTS:</strong></span></li>\r\n</ol>\r\nGood morning and welcome to the new subscribers from over the weekend.\r\n\r\nI just want to use this opportunity for those of you that do not use Twitter. The vast majority of trade set ups and trade amendments are delivered via twitter and not through this blog or the WEEKLY FX DRIVE THRU. There about 20 of you that are not signed up on twitter. I know that some of you, because I have spoken with you, that are just not social media orientated and are not interested in twitter. Regards the remainder, please give this matter some thought.\r\n\r\nMoving on….\r\n\r\nIn the weekend blog I noted four potential trades.\r\n\r\nEUR/USD\r\nGBP/USD\r\nNZD/USD\r\nand\r\nUSD/CHF\r\n\r\nI did not place these trades with my brokers. The EUR/USD would have missed triggering by 1 pip, the USD/CHF would not have triggered but the NZD/USD and GBP/USD both would have started, but with only very slight gains.\r\n\r\nI decided early this morning (EDT) not to enter trades in the European session, as there was nothing happening. It was just so boring, I just went back to sleep. Trading ranges have been minimal to say the least. I wonder are we going to see nothing at all until the FED on Wednesday?\r\n\r\nHaving just said that, I keep looking at the EUR/USD and I am thinking was 1.2714 the highs….\r\n\r\nI know already that some of you guys took the WEEKLY FX DRIVE THRU trades and I could just enter them now with my brokers, and tweet them, as we are so close to the posted entry levels.\r\n\r\nLooking around the markets, European and Asian bourses were mainly RED overnight, U.S. equities basically flat; Oil moving lower again, GOLD slightly lower and COPPER slightly in the green.\r\n\r\nIt looks very slow to me at the moment, not a great deal to do. I have a great deal of chart analysis under my belt already on commodity crosses and Nordic currencies as well. Whilst my time has not been wasted I am not 100% convinced to enter this market with more trades at the present time.\r\n\r\nI am however only really looking for 30 pips day trades until the FED, so if we see signs of life, I will enter.\r\n\r\nI will tweet my updated thoughts later.\r\n\r\n<strong> </strong>\r\n<ol start=\"2\">\r\n	<li><span style=\"font-size: 12pt;\"><strong> KEY NEWS EVENTS NEXT 24 hours (BASED UPON (NYC) EDT TIME:</strong></span></li>\r\n</ol>\r\nNothing.\r\n\r\n<strong> </strong><strong> </strong>\r\n<ol start=\"3\">\r\n	<li><span style=\"font-size: 12pt;\"><strong> EXISTING LIVE TRADES:</strong></span></li>\r\n</ol>\r\n&nbsp;\r\n\r\n<strong>RADAR TRADES:</strong>\r\n\r\nThere are no LIVE RADAR TRADES at the present time.\r\n\r\n<strong> </strong>\r\n\r\n<strong>FLASH TRADES:</strong>\r\n\r\nFT190\r\nNZD/USD\r\nShort at 0.7793\r\nStop at 0.8050\r\nLimit at 0.6580\r\nPrice Now: 0.7869\r\nCurrent Profit / Loss Position: - 76 pips\r\n\r\nFT202\r\nUSD/CAD\r\nLong at 1.1340\r\nStop at 1.1170\r\nLimit at 1.1570\r\nPrice Now: 1.1234\r\nCurrent Profit / Loss Position: -106 pips\r\n(This pair is hedged from -70 pips)\r\n\r\nFT209\r\nAUD/USD\r\nShort at 0.8785\r\nStop at 0.8850\r\nLimit at 0.8000\r\nPrice Now: 0.8804\r\nCurrent Profit / Loss Position: -19 pips\r\n\r\n&nbsp;\r\n\r\n<strong>FUNDAMENTAL TRADES:</strong>\r\n\r\nFUN44\r\nGBP/NZD\r\nLong at 2.0507\r\nStop at 1.9800\r\nLimit at 2.3200\r\nPrice Now: 2.0460\r\nCurrent Profit / Loss Position: -47 pips\r\n<strong> </strong>\r\n<ol start=\"4\">\r\n	<li><span style=\"font-size: 12pt;\"><strong> LIMIT &amp; STOP ORDERS WITH BROKERS:</strong></span></li>\r\n</ol>\r\nThere are no LIMIT ORDERS with my brokers at this present time.\r\n\r\n&nbsp;\r\n\r\nGood luck today.\r\n\r\nScott Pickering\r\nThe Pip Accumulator\r\n<a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a>\r\nTwitter: @ThePremService\r\nEmail: premiumserice@weeklyfxdrivethru.com\r\n\r\n<strong>DISCLAIMER:</strong>\r\n\r\nFLASH, 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.','#115 - THE DAILY FX POST, Monday 27th October 2014','','inherit','open','closed','','4638-revision-v1','','','2014-10-27 07:22:52','2014-10-27 12:22:52','',4638,'https://weeklyfxdrivethru.com/4638-revision-v1/',0,'revision','',0),(4640,1,'2014-10-27 07:23:51','2014-10-27 12:23:51','<strong><span style=\"font-size: 14pt;\">THE DAILY FX POST</span>\r\n<span style=\"font-size: 14pt;\"> from</span>\r\n<span style=\"font-size: 14pt;\"> THE PREMIUM SERVICE</span></strong>\r\n\r\n&nbsp;\r\n\r\n<strong>DATE: Monday 27th October 2014\r\nREF: #115</strong>\r\n\r\n&nbsp;\r\n<ol>\r\n	<li><span style=\"font-size: 12pt;\"><strong> OVERVIEW – INITIAL THOUGHTS:</strong></span></li>\r\n</ol>\r\nGood morning and welcome to the new subscribers from over the weekend.\r\n\r\nI just want to use this opportunity for those of you that do not use Twitter. The vast majority of trade set ups and trade amendments are delivered via twitter and not through this blog or the WEEKLY FX DRIVE THRU. There about 20 of you that are not signed up on twitter. I know that some of you, because I have spoken with you, that are just not social media orientated and are not interested in twitter. Regards the remainder, please give this matter some thought.\r\n\r\nMoving on….\r\n\r\nIn the weekend blog I noted four potential trades.\r\n\r\nEUR/USD\r\nGBP/USD\r\nNZD/USD\r\nand\r\nUSD/CHF\r\n\r\nI did not place these trades with my brokers. The EUR/USD would have missed triggering by 1 pip, the USD/CHF would not have triggered but the NZD/USD and GBP/USD both would have started, but with only very slight gains.\r\n\r\nI decided early this morning (EDT) not to enter trades in the European session, as there was nothing happening. It was just so boring, I just went back to sleep. Trading ranges have been minimal to say the least. I wonder are we going to see nothing at all until the FED on Wednesday?\r\n\r\nHaving just said that, I keep looking at the EUR/USD and I am thinking was 1.2714 the highs….\r\n\r\nI know already that some of you guys took the WEEKLY FX DRIVE THRU trades and I could just enter them now with my brokers, and tweet them, as we are so close to the posted entry levels.\r\n\r\nLooking around the markets, European and Asian bourses were mainly RED overnight, U.S. equities basically flat; Oil moving lower again, GOLD slightly lower and COPPER slightly in the green.\r\n\r\nIt looks very slow to me at the moment, not a great deal to do. I have a great deal of chart analysis under my belt already on commodity crosses and Nordic currencies as well. Whilst my time has not been wasted I am not 100% convinced to enter this market with more trades at the present time.\r\n\r\nI am however only really looking for 30 pips day trades until the FED, so if we see signs of life, I will enter.\r\n\r\nI will tweet my updated thoughts later.\r\n\r\n<strong> </strong>\r\n<ol start=\"2\">\r\n	<li><span style=\"font-size: 12pt;\"><strong> KEY NEWS EVENTS NEXT 24 hours (BASED UPON (NYC) EDT TIME:</strong></span></li>\r\n</ol>\r\nNothing.\r\n\r\n<strong> </strong><strong> </strong>\r\n<ol start=\"3\">\r\n	<li><span style=\"font-size: 12pt;\"><strong> EXISTING LIVE TRADES:</strong></span></li>\r\n</ol>\r\n&nbsp;\r\n\r\n<strong>RADAR TRADES:</strong>\r\n\r\nThere are no LIVE RADAR TRADES at the present time.\r\n\r\n<strong> </strong>\r\n\r\n<strong>FLASH TRADES:</strong>\r\n\r\nFT190\r\nNZD/USD\r\nShort at 0.7793\r\nStop at 0.8050\r\nLimit at 0.6580\r\nPrice Now: 0.7869\r\nCurrent Profit / Loss Position: - 76 pips\r\n\r\nFT202\r\nUSD/CAD\r\nLong at 1.1340\r\nStop at 1.1170\r\nLimit at 1.1570\r\nPrice Now: 1.1234\r\nCurrent Profit / Loss Position: -106 pips\r\n(This pair is hedged from -70 pips)\r\n\r\nFT209\r\nAUD/USD\r\nShort at 0.8785\r\nStop at 0.8850\r\nLimit at 0.8000\r\nPrice Now: 0.8804\r\nCurrent Profit / Loss Position: -19 pips\r\n\r\n&nbsp;\r\n\r\n<strong>FUNDAMENTAL TRADES:</strong>\r\n\r\nFUN44\r\nGBP/NZD\r\nLong at 2.0507\r\nStop at 1.9800\r\nLimit at 2.3200\r\nPrice Now: 2.0460\r\nCurrent Profit / Loss Position: -47 pips\r\n<strong> </strong>\r\n<ol start=\"4\">\r\n	<li><span style=\"font-size: 12pt;\"><strong> LIMIT &amp; STOP ORDERS WITH BROKERS:</strong></span></li>\r\n</ol>\r\nThere are no LIMIT ORDERS with my brokers at this present time.\r\n\r\n&nbsp;\r\n\r\nGood luck today.\r\n\r\nScott Pickering\r\nThe Pip Accumulator\r\n<a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a>\r\nTwitter: @ThePremService\r\nEmail: premiumserice@weeklyfxdrivethru.com\r\n\r\n<strong>DISCLAIMER:</strong>\r\n\r\nFLASH, 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.','#115 - THE DAILY FX POST, Monday 27th October 2014','','inherit','open','closed','','4638-revision-v1','','','2014-10-27 07:23:51','2014-10-27 12:23:51','',4638,'https://weeklyfxdrivethru.com/4638-revision-v1/',0,'revision','',0),(4641,1,'2014-10-28 07:24:32','2014-10-28 12:24:32','<strong><span style=\"font-size: 14pt;\">THE DAILY FX POST</span>\r\n<span style=\"font-size: 14pt;\"> from</span>\r\n<span style=\"font-size: 14pt;\"> THE PREMIUM SERVICE</span></strong>\r\n\r\n&nbsp;\r\n\r\n<strong>DATE: Tuesday 28th October 2014\r\nREF: #116</strong>\r\n\r\n&nbsp;\r\n<ol>\r\n	<li><span style=\"font-size: 12pt;\"><strong> OVERVIEW – INITIAL THOUGHTS:</strong></span></li>\r\n</ol>\r\nWe are stuck in ranges all over.\r\n\r\nI tried two late morning directional trades yesterday. My goal was to try to achieve a 25-30-pip move in both.\r\n\r\nThe EUR/USD (FT214) – after watching paint dry I took +10 pips after what seemed like squeezing blood from a stone.\r\n\r\nNZD/USD (FT215) – I am still short and positive by 1 pip.\r\n\r\nI took the USD/SEK (FT216) long this morning as I mentioned on twitter last night and took +480 pips on the initial move following central bank interest rates being set to 0%. It is still gong and currently it is another 360 pips higher from where I exited.\r\n\r\nApart from excitement in the Scandinavian currencies we are basically in very tight trading ranges ahead of the FED tomorrow. The EUR/USD has been in a 35 pip trading range, the GBP/USD 42 pips. The AUD/USD wins out at 48 pips so far.\r\n\r\nThe bottom line is however I think that we will just move around in a chop fest until tomorrow after when the FOMC statement is released.\r\n\r\nI have several set-ups ready for tomorrow afternoon depending upon how the FOMC statement reads.\r\n\r\nIt’s time to paint a few walls and watch them dry.\r\n\r\nReally sorry, but the market is giving me nothing at the present time. One of the key characteristics of a seasoned FX trader is the ability to be patient and wait for trades. This is right where I am right now.\r\n\r\n<strong> </strong>\r\n<ol start=\"2\">\r\n	<li><span style=\"font-size: 12pt;\"><strong> KEY NEWS EVENTS NEXT 24 hours (BASED UPON (NYC) EDT TIME:</strong></span></li>\r\n</ol>\r\nUSD: - Consumer Confidence.\r\n\r\nNZD: - ANZ Business Confidence.\r\n\r\n<strong> </strong><strong> </strong>\r\n<ol start=\"3\">\r\n	<li><span style=\"font-size: 12pt;\"><strong> EXISTING LIVE TRADES:</strong></span></li>\r\n</ol>\r\n<strong>RADAR TRADES:</strong>\r\n\r\nThere are no LIVE RADAR TRADES at the present time.\r\n\r\n<strong>FLASH TRADES:</strong>\r\n\r\nFT190\r\nNZD/USD\r\nShort at 0.7793\r\nStop at 0.8050\r\nLimit at 0.6580\r\nPrice Now: 0.7894\r\nCurrent Profit / Loss Position: - 101 pips\r\n\r\nFT202\r\nUSD/CAD\r\nLong at 1.1340\r\nStop at 1.1170\r\nLimit at 1.1570\r\nPrice Now: 1.1225\r\nCurrent Profit / Loss Position: -115 pips\r\n(This pair is hedged from -70 pips)\r\n\r\nFT209\r\nAUD/USD\r\nShort at 0.8785\r\nStop at 0.8880 (Please note new stop loss level)\r\nLimit at 0.8000\r\nPrice Now: 0.8837\r\nCurrent Profit / Loss Position: -52 pips\r\n\r\nFT215\r\nNZD/USD\r\nShort at 0.7895\r\nStop at 0.7960\r\nLimit 0.7795\r\nPrice now 0.7894\r\nCurrent Profit / Loss Position: +1 pip<strong> </strong>\r\n\r\n<strong>FUNDAMENTAL TRADES:</strong>\r\n\r\nFUN44\r\nGBP/NZD\r\nLong at 2.0507\r\nStop at 1.9800\r\nLimit at 2.3200\r\nPrice Now: 2.0414\r\nCurrent Profit / Loss Position: -93 pips\r\n<ol start=\"4\">\r\n	<li><span style=\"font-size: 12pt;\"><strong> LIMIT &amp; STOP ORDERS WITH BROKERS:</strong></span></li>\r\n</ol>\r\nThere are no LIMIT ORDERS with my brokers at this present time. I do however have several set-ups ready to place after the FED tomorrow afternoon.\r\n\r\n&nbsp;\r\n\r\nGood luck today.\r\n\r\nScott Pickering\r\nThe Pip Accumulator\r\n<a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a>\r\nTwitter: @ThePremService\r\nEmail: premiumserice@weeklyfxdrivethru.com\r\n\r\n<strong>DISCLAIMER:</strong>\r\n\r\nFLASH, 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.','#116 - THE DAILY FX POST, Tuesday 28th 2014','','publish','open','closed','','116-daily-fx-post-tuesday-28th-2014','','','2014-10-28 07:25:44','2014-10-28 12:25:44','',0,'https://weeklyfxdrivethru.com/?post_type=member_posts&#038;p=4641',0,'member_posts','',0),(4642,1,'2014-10-28 07:24:32','2014-10-28 12:24:32','<strong><span style=\"font-size: 14pt;\">THE DAILY FX POST</span>\r\n<span style=\"font-size: 14pt;\"> from</span>\r\n<span style=\"font-size: 14pt;\"> THE PREMIUM SERVICE</span>\r\n\r\n</strong>\r\n\r\n<strong>DATE: Tuesday 28th October 2014\r\nREF: #116</strong>\r\n\r\n&nbsp;\r\n<ol>\r\n	<li><span style=\"font-size: 12pt;\"><strong> OVERVIEW – INITIAL THOUGHTS:</strong></span></li>\r\n</ol>\r\nWe are stuck in ranges all over.\r\n\r\nI tried two late morning directional trades yesterday. My goal was to try to achieve a 25-30-pip move in both.\r\n\r\nThe EUR/USD (FT214) – after watching paint dry I took +10 pips after what seemed like squeezing blood from a stone.\r\n\r\nNZD/USD (FT215) – I am still short and positive by 1 pip.\r\n\r\nI took the USD/SEK (FT216) long this morning as I mentioned on twitter last night and took +480 pips on the initial move following central bank interest rates being set to 0%. It is still gong and currently it is another 360 pips higher from where I exited.\r\n\r\nApart from excitement in the Scandinavian currencies we are basically in very tight trading ranges ahead of the FED tomorrow. The EUR/USD has been in a 35 pip trading range, the GBP/USD 42 pips. The AUD/USD wins out at 48 pips so far.\r\n\r\nThe bottom line is however I think that we will just move around in a chop fest until tomorrow after when the FOMC statement is released.\r\n\r\nI have several set-ups ready for tomorrow afternoon depending upon how the FOMC statement reads.\r\n\r\nIt’s time to paint a few walls and watch them dry.\r\n\r\nReally sorry, but the market is giving me nothing at the present time. One of the ket characteristics of a seasoned FX trader is the ability to be patient and wait for trades. This is right where I am right now.\r\n\r\n<strong> </strong>\r\n<ol start=\"2\">\r\n	<li><span style=\"font-size: 12pt;\"><strong> KEY NEWS EVENTS NEXT 24 hours (BASED UPON (NYC) EDT TIME:</strong></span></li>\r\n</ol>\r\nUSD: - Consumer Confidence.\r\n\r\nNZD: - ANZ Business Confidence.\r\n\r\n<strong> </strong><strong> </strong>\r\n<ol start=\"3\">\r\n	<li><span style=\"font-size: 12pt;\"><strong> EXISTING LIVE TRADES:</strong></span></li>\r\n</ol>\r\n<strong>RADAR TRADES:</strong>\r\n\r\nThere are no LIVE RADAR TRADES at the present time.\r\n\r\n<strong>FLASH TRADES:</strong>\r\n\r\nFT190\r\nNZD/USD\r\nShort at 0.7793\r\nStop at 0.8050\r\nLimit at 0.6580\r\nPrice Now: 0.7894\r\nCurrent Profit / Loss Position: - 101 pips\r\n\r\nFT202\r\nUSD/CAD\r\nLong at 1.1340\r\nStop at 1.1170\r\nLimit at 1.1570\r\nPrice Now: 1.1225\r\nCurrent Profit / Loss Position: -115 pips\r\n(This pair is hedged from -70 pips)\r\n\r\nFT209\r\nAUD/USD\r\nShort at 0.8785\r\nStop at 0.8880 (Please note new stop loss level)\r\nLimit at 0.8000\r\nPrice Now: 0.8837\r\nCurrent Profit / Loss Position: -52 pips\r\n\r\nFT215\r\nNZD/USD\r\nShort at 0.7895\r\nStop at 0.7960\r\nLimit 0.7795\r\nPrice now 0.7894\r\nCurrent Profit / Loss Position: +1 pip<strong> </strong>\r\n\r\n<strong>FUNDAMENTAL TRADES:</strong>\r\n\r\nFUN44\r\nGBP/NZD\r\nLong at 2.0507\r\nStop at 1.9800\r\nLimit at 2.3200\r\nPrice Now: 2.0414\r\nCurrent Profit / Loss Position: -93 pips\r\n<ol start=\"4\">\r\n	<li><span style=\"font-size: 12pt;\"><strong> LIMIT &amp; STOP ORDERS WITH BROKERS:</strong></span></li>\r\n</ol>\r\nThere are no LIMIT ORDERS with my brokers at this present time. I do however have several set-ups ready to place after the FED tomorrow afternoon.\r\n\r\n&nbsp;\r\n\r\nGood luck today.\r\n\r\nScott Pickering\r\nThe Pip Accumulator\r\n<a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a>\r\nTwitter: @ThePremService\r\nEmail: premiumserice@weeklyfxdrivethru.com\r\n\r\n<strong>DISCLAIMER:</strong>\r\n\r\nFLASH, 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.','#116 - THE DAILY FX POST, Tuesday 28th 2014','','inherit','open','closed','','4641-revision-v1','','','2014-10-28 07:24:32','2014-10-28 12:24:32','',4641,'https://weeklyfxdrivethru.com/4641-revision-v1/',0,'revision','',0),(4643,1,'2014-10-28 07:25:44','2014-10-28 12:25:44','<strong><span style=\"font-size: 14pt;\">THE DAILY FX POST</span>\r\n<span style=\"font-size: 14pt;\"> from</span>\r\n<span style=\"font-size: 14pt;\"> THE PREMIUM SERVICE</span></strong>\r\n\r\n&nbsp;\r\n\r\n<strong>DATE: Tuesday 28th October 2014\r\nREF: #116</strong>\r\n\r\n&nbsp;\r\n<ol>\r\n	<li><span style=\"font-size: 12pt;\"><strong> OVERVIEW – INITIAL THOUGHTS:</strong></span></li>\r\n</ol>\r\nWe are stuck in ranges all over.\r\n\r\nI tried two late morning directional trades yesterday. My goal was to try to achieve a 25-30-pip move in both.\r\n\r\nThe EUR/USD (FT214) – after watching paint dry I took +10 pips after what seemed like squeezing blood from a stone.\r\n\r\nNZD/USD (FT215) – I am still short and positive by 1 pip.\r\n\r\nI took the USD/SEK (FT216) long this morning as I mentioned on twitter last night and took +480 pips on the initial move following central bank interest rates being set to 0%. It is still gong and currently it is another 360 pips higher from where I exited.\r\n\r\nApart from excitement in the Scandinavian currencies we are basically in very tight trading ranges ahead of the FED tomorrow. The EUR/USD has been in a 35 pip trading range, the GBP/USD 42 pips. The AUD/USD wins out at 48 pips so far.\r\n\r\nThe bottom line is however I think that we will just move around in a chop fest until tomorrow after when the FOMC statement is released.\r\n\r\nI have several set-ups ready for tomorrow afternoon depending upon how the FOMC statement reads.\r\n\r\nIt’s time to paint a few walls and watch them dry.\r\n\r\nReally sorry, but the market is giving me nothing at the present time. One of the key characteristics of a seasoned FX trader is the ability to be patient and wait for trades. This is right where I am right now.\r\n\r\n<strong> </strong>\r\n<ol start=\"2\">\r\n	<li><span style=\"font-size: 12pt;\"><strong> KEY NEWS EVENTS NEXT 24 hours (BASED UPON (NYC) EDT TIME:</strong></span></li>\r\n</ol>\r\nUSD: - Consumer Confidence.\r\n\r\nNZD: - ANZ Business Confidence.\r\n\r\n<strong> </strong><strong> </strong>\r\n<ol start=\"3\">\r\n	<li><span style=\"font-size: 12pt;\"><strong> EXISTING LIVE TRADES:</strong></span></li>\r\n</ol>\r\n<strong>RADAR TRADES:</strong>\r\n\r\nThere are no LIVE RADAR TRADES at the present time.\r\n\r\n<strong>FLASH TRADES:</strong>\r\n\r\nFT190\r\nNZD/USD\r\nShort at 0.7793\r\nStop at 0.8050\r\nLimit at 0.6580\r\nPrice Now: 0.7894\r\nCurrent Profit / Loss Position: - 101 pips\r\n\r\nFT202\r\nUSD/CAD\r\nLong at 1.1340\r\nStop at 1.1170\r\nLimit at 1.1570\r\nPrice Now: 1.1225\r\nCurrent Profit / Loss Position: -115 pips\r\n(This pair is hedged from -70 pips)\r\n\r\nFT209\r\nAUD/USD\r\nShort at 0.8785\r\nStop at 0.8880 (Please note new stop loss level)\r\nLimit at 0.8000\r\nPrice Now: 0.8837\r\nCurrent Profit / Loss Position: -52 pips\r\n\r\nFT215\r\nNZD/USD\r\nShort at 0.7895\r\nStop at 0.7960\r\nLimit 0.7795\r\nPrice now 0.7894\r\nCurrent Profit / Loss Position: +1 pip<strong> </strong>\r\n\r\n<strong>FUNDAMENTAL TRADES:</strong>\r\n\r\nFUN44\r\nGBP/NZD\r\nLong at 2.0507\r\nStop at 1.9800\r\nLimit at 2.3200\r\nPrice Now: 2.0414\r\nCurrent Profit / Loss Position: -93 pips\r\n<ol start=\"4\">\r\n	<li><span style=\"font-size: 12pt;\"><strong> LIMIT &amp; STOP ORDERS WITH BROKERS:</strong></span></li>\r\n</ol>\r\nThere are no LIMIT ORDERS with my brokers at this present time. I do however have several set-ups ready to place after the FED tomorrow afternoon.\r\n\r\n&nbsp;\r\n\r\nGood luck today.\r\n\r\nScott Pickering\r\nThe Pip Accumulator\r\n<a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a>\r\nTwitter: @ThePremService\r\nEmail: premiumserice@weeklyfxdrivethru.com\r\n\r\n<strong>DISCLAIMER:</strong>\r\n\r\nFLASH, 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.','#116 - THE DAILY FX POST, Tuesday 28th 2014','','inherit','open','closed','','4641-revision-v1','','','2014-10-28 07:25:44','2014-10-28 12:25:44','',4641,'https://weeklyfxdrivethru.com/4641-revision-v1/',0,'revision','',0),(4645,1,'2014-10-29 07:35:04','2014-10-29 12:35:04','<strong><span style=\"font-size: 14pt;\">THE DAILY FX POST</span>\r\n<span style=\"font-size: 14pt;\"> from</span>\r\n<span style=\"font-size: 14pt;\"> THE PREMIUM SERVICE</span>\r\n\r\n</strong>\r\n\r\n<strong>DATE: Wednesday 29th October 2014\r\nREF: #117</strong>\r\n\r\n&nbsp;\r\n<ol>\r\n	<li><span style=\"font-size: 12pt;\"><strong> OVERVIEW – INITIAL THOUGHTS:</strong></span></li>\r\n</ol>\r\nToday is the day.\r\n\r\nI am ready for the FOMC. I hope you guy are to.\r\n\r\nI think that today’s statement will cause a very volatile reaction in the Forex markets. Everyone is focused on the words in the statement. “Considerable Time” being what appears to me the most important.\r\n\r\nPersonally, I think that Yellen, who is the #1, dove when it comes to all her statements and testimonies so far will not change character or approach today with the comments in the statement.\r\n\r\nThere is no press conference today, where she could explain a change in policy. The two key items that lots of analysts look at are INFLATION and UNEMPLOYMENT. Both of these subjects will feature on the FOMC release and whether you believe the employment data for example, is entirely up to you, but, it is the market’s reaction which will be the one to follow as it is the market that will move the prices. INFLATION is not yet at 2%, which is a core FED objective and as a result there are DEFLATIONARY concerns hanging over the FED. UNEMPLOYMENT is sub 6% and under Bernanke this was a key measurement. Yellen has moved FED watchers away from the previous targets triggering moves.\r\n\r\nMoving on….\r\n\r\n<span style=\"text-decoration: underline;\">WHAT AM I LOOKING FOR SPECIFICALLY?</span>\r\n\r\nLooking at the markets they have decided that rate hikes will not happen until late 2015 or early 2016. Should the FED state categorically that rates would not rise until 2016. I will close all USD long positions irrespective of the hedging in place.\r\n\r\nIn simple terms this is it… nothing more.\r\n\r\n<span style=\"text-decoration: underline;\">WHAT HAVE I DONE TO PROTECT MY OPEN POSITIONS?</span>\r\n<ol>\r\n	<li>I have closed out most “non-hedged” positions already. The remainder I will look at later.</li>\r\n	<li>Reduced position sizes where applicable to moderate and reduce risk.</li>\r\n	<li>I have had hedging in place for about 2/3 weeks on some core positions and it will remain in position through the FOMC data. My maximum loss on existing hedged trades is – 370 pips. I am concerned with some of the overnight (SWAP) costs getting out of control, so I may close off positions later should the FOMC go against my trades. I also have at the back of my mind the follow through into Asia and Europe. But I will decide this later as I am well within my RISK TOLERANCES and positions are not large.</li>\r\n	<li>Therefore my plan is in place. I know what I am looking for and based upon the exact wording and reaction, I will either close positions or let the hedges continue on.</li>\r\n	<li>I also have to bear in mind that the RBNZ reports two hours after the FED data and two of my open trades are NZD related.</li>\r\n</ol>\r\nWe are still range bound and I will not be averse to not entering new trades. Here are the levels / ranges that I am looking at with the USD majors.\r\n\r\n<span style=\"text-decoration: underline;\">CURRENCY PAIR</span>                            <span style=\"text-decoration: underline;\">SUPPORT </span>                 <span style=\"text-decoration: underline;\">RESISTANCE</span>\r\n\r\nEUR/USD                                           1.2680                         1.2765 (yesterdays highs)\r\n\r\nGBP/USD                                           1.6050                         1.6200\r\n\r\nAUD/USD                                          0.8840                         0.8950\r\n\r\nNZD/USD                                          0.7880                         0.7960 (yesterdays highs)\r\n\r\nUSD/CAD                                          1.1130                            1.1200\r\n\r\nUSD/JPY                                            107.50                         108.35\r\n\r\nUSD/CHF                                           0.9440                         0.9520\r\n\r\nI will be on twitter through the FOMC and I expecting it to be hectic.\r\n\r\nIf you are a new trader I would suggest that you be sidelined.\r\n\r\n<strong> </strong>\r\n<ol start=\"2\">\r\n	<li><span style=\"font-size: 12pt;\"><strong> KEY NEWS EVENTS NEXT 24 hours (BASED UPON (NYC) EDT TIME:</strong></span></li>\r\n</ol>\r\nUSD: - FOMC statement.\r\nNZD: - RBNZ cash rate and RBNZ statement.\r\n\r\nAUD: - RBA mid year Fiscal and Economic outlook report.\r\n\r\n<strong> </strong>\r\n<ol start=\"3\">\r\n	<li><span style=\"font-size: 12pt;\"><strong> EXISTING LIVE TRADES:</strong></span></li>\r\n</ol>\r\nEvery morning, I complete this section and the negative trades remind me that RISK MANAGEMENT is probably the single most crucial aspect of being a Forex trader for the long haul. I look at these trades and then look at the day trades that are being down that keep the $$$ clock ticking in the background.\r\n\r\nI think that before the end of this month I would have made my decision on my core trades. My position sizes are <span style=\"text-decoration: underline;\">not even</span> at 20% of my maximum trading position size.\r\n\r\n<strong>RADAR TRADES:</strong>\r\n\r\nThere are no LIVE RADAR TRADES at the present time.\r\n\r\n<strong>FLASH TRADES:</strong>\r\n\r\nFT190\r\nNZD/USD\r\nShort at 0.7793\r\nStop at 0.8050\r\nLimit at 0.6580\r\nPrice Now: 0.7938\r\nCurrent Profit / Loss Position: - 145 pips\r\n(This pair is hedged from -100 pips)\r\n\r\nFT202\r\nUSD/CAD\r\nLong at 1.1340\r\nStop at 1.1170\r\nLimit at 1.1570\r\nPrice Now: 1.1143\r\nCurrent Profit / Loss Position: -197 pips\r\n(This pair is hedged from -70 pips)\r\n\r\nFT215\r\nNZD/USD\r\nShort at 0.7895\r\nStop at 0.7960\r\nLimit 0.7795\r\nPrice now 0.7938\r\nCurrent Profit / Loss Position: -43 pips\r\n\r\nFT217\r\nEUR/USD\r\nShort at 1.2758\r\nStop at 1.2850\r\nLimit 1.2450\r\nPrice now 1.2737\r\nCurrent Profit / Loss Position: +21 pips\r\n\r\nFT215\r\nUSD/SEK\r\nLong at 7.3520\r\nStop at 7.2500\r\nLimit 7.4170\r\nPrice now 7.3192\r\nCurrent Profit / Loss Position: -324 pips\r\n(This pair is hedged from -100 pips. I did this about 3 hours ago)\r\n\r\n<strong>FUNDAMENTAL TRADES:</strong>\r\n\r\nFUN44\r\nGBP/NZD\r\nLong at 2.0507\r\nStop at 1.9800\r\nLimit at 2.3200\r\nPrice Now: 2.0304\r\nCurrent Profit / Loss Position: -203 pips\r\n(This pair is hedged from -100 pips)\r\n\r\n<strong> </strong>\r\n<ol start=\"4\">\r\n	<li><strong> LIMIT &amp; STOP ORDERS WITH BROKERS:</strong></li>\r\n</ol>\r\nThere are no LIMIT ORDERS with my brokers at this present time. I do however have several set-ups ready to place after the FED tomorrow afternoon.\r\n\r\n&nbsp;\r\n\r\nGood luck today and take care.\r\nScott Pickering\r\nThe Pip Accumulator\r\n<a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a>\r\nTwitter: @ThePremService\r\nEmail: premiumserice@weeklyfxdrivethru.com\r\n\r\n<strong>DISCLAIMER:</strong>\r\n\r\nFLASH, 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.','#117 - THE DAILY FX POST, Wednesday 29th October 2014','','inherit','open','closed','','4644-revision-v1','','','2014-10-29 07:35:04','2014-10-29 12:35:04','',4644,'https://weeklyfxdrivethru.com/4644-revision-v1/',0,'revision','',0),(4646,1,'2014-10-29 07:36:02','2014-10-29 12:36:02','<strong><span style=\"font-size: 14pt;\">THE DAILY FX POST</span>\r\n<span style=\"font-size: 14pt;\"> from</span>\r\n<span style=\"font-size: 14pt;\"> THE PREMIUM SERVICE</span></strong>\r\n\r\n&nbsp;\r\n\r\n<strong>DATE: Wednesday 29th October 2014\r\nREF: #117</strong>\r\n\r\n&nbsp;\r\n<ol>\r\n	<li><span style=\"font-size: 12pt;\"><strong> OVERVIEW – INITIAL THOUGHTS:</strong></span></li>\r\n</ol>\r\nToday is the day.\r\n\r\nI am ready for the FOMC. I hope you guy are to.\r\n\r\nI think that today’s statement will cause a very volatile reaction in the Forex markets. Everyone is focused on the words in the statement. “Considerable Time” being what appears to me the most important.\r\n\r\nPersonally, I think that Yellen, who is the #1, dove when it comes to all her statements and testimonies so far will not change character or approach today with the comments in the statement.\r\n\r\nThere is no press conference today, where she could explain a change in policy. The two key items that lots of analysts look at are INFLATION and UNEMPLOYMENT. Both of these subjects will feature on the FOMC release and whether you believe the employment data for example, is entirely up to you, but, it is the market’s reaction which will be the one to follow as it is the market that will move the prices. INFLATION is not yet at 2%, which is a core FED objective and as a result there are DEFLATIONARY concerns hanging over the FED. UNEMPLOYMENT is sub 6% and under Bernanke this was a key measurement. Yellen has moved FED watchers away from the previous targets triggering moves.\r\n\r\nMoving on….\r\n\r\n<span style=\"text-decoration: underline;\">WHAT AM I LOOKING FOR SPECIFICALLY?</span>\r\n\r\nLooking at the markets they have decided that rate hikes will not happen until late 2015 or early 2016. Should the FED state categorically that rates would not rise until 2016. I will close all USD long positions irrespective of the hedging in place.\r\n\r\nIn simple terms this is it… nothing more.\r\n\r\n<span style=\"text-decoration: underline;\">WHAT HAVE I DONE TO PROTECT MY OPEN POSITIONS?</span>\r\n<ol>\r\n	<li>I have closed out most “non-hedged” positions already. The remainder I will look at later.</li>\r\n	<li>Reduced position sizes where applicable to moderate and reduce risk.</li>\r\n	<li>I have had hedging in place for about 2/3 weeks on some core positions and it will remain in position through the FOMC data. My maximum loss on existing hedged trades is – 370 pips. I am concerned with some of the overnight (SWAP) costs getting out of control, so I may close off positions later should the FOMC go against my trades. I also have at the back of my mind the follow through into Asia and Europe. But I will decide this later as I am well within my RISK TOLERANCES and positions are not large.</li>\r\n	<li>Therefore my plan is in place. I know what I am looking for and based upon the exact wording and reaction, I will either close positions or let the hedges continue on.</li>\r\n	<li>I also have to bear in mind that the RBNZ reports two hours after the FED data and two of my open trades are NZD related.</li>\r\n</ol>\r\nWe are still range bound and I will not be averse to not entering new trades. Here are the levels / ranges that I am looking at with the USD majors.\r\n\r\n<span style=\"text-decoration: underline;\">CURRENCY PAIR</span>                            <span style=\"text-decoration: underline;\">SUPPORT </span>                 <span style=\"text-decoration: underline;\">RESISTANCE</span>\r\n\r\nEUR/USD                                           1.2680                         1.2765 (yesterdays highs)\r\n\r\nGBP/USD                                           1.6050                         1.6200\r\n\r\nAUD/USD                                          0.8840                         0.8950\r\n\r\nNZD/USD                                          0.7880                         0.7960 (yesterdays highs)\r\n\r\nUSD/CAD                                          1.1130                            1.1200\r\n\r\nUSD/JPY                                            107.50                         108.35\r\n\r\nUSD/CHF                                           0.9440                         0.9520\r\n\r\nI will be on twitter through the FOMC and I expecting it to be hectic.\r\n\r\nIf you are a new trader I would suggest that you be sidelined.\r\n\r\n<strong> </strong>\r\n<ol start=\"2\">\r\n	<li><span style=\"font-size: 12pt;\"><strong> KEY NEWS EVENTS NEXT 24 hours (BASED UPON (NYC) EDT TIME:</strong></span></li>\r\n</ol>\r\nUSD: - FOMC statement.\r\nNZD: - RBNZ cash rate and RBNZ statement.\r\n\r\nAUD: - RBA mid year Fiscal and Economic outlook report.\r\n\r\n<strong> </strong>\r\n<ol start=\"3\">\r\n	<li><span style=\"font-size: 12pt;\"><strong> EXISTING LIVE TRADES:</strong></span></li>\r\n</ol>\r\nEvery morning, I complete this section and the negative trades remind me that RISK MANAGEMENT is probably the single most crucial aspect of being a Forex trader for the long haul. I look at these trades and then look at the day trades that are being down that keep the $$$ clock ticking in the background.\r\n\r\nI think that before the end of this month I would have made my decision on my core trades. My position sizes are <span style=\"text-decoration: underline;\">not even</span> at 20% of my maximum trading position size.\r\n\r\n<strong>RADAR TRADES:</strong>\r\n\r\nThere are no LIVE RADAR TRADES at the present time.\r\n\r\n<strong>FLASH TRADES:</strong>\r\n\r\nFT190\r\nNZD/USD\r\nShort at 0.7793\r\nStop at 0.8050\r\nLimit at 0.6580\r\nPrice Now: 0.7938\r\nCurrent Profit / Loss Position: - 145 pips\r\n(This pair is hedged from -100 pips)\r\n\r\nFT202\r\nUSD/CAD\r\nLong at 1.1340\r\nStop at 1.1170\r\nLimit at 1.1570\r\nPrice Now: 1.1143\r\nCurrent Profit / Loss Position: -197 pips\r\n(This pair is hedged from -70 pips)\r\n\r\nFT215\r\nNZD/USD\r\nShort at 0.7895\r\nStop at 0.7960\r\nLimit 0.7795\r\nPrice now 0.7938\r\nCurrent Profit / Loss Position: -43 pips\r\n\r\nFT217\r\nEUR/USD\r\nShort at 1.2758\r\nStop at 1.2850\r\nLimit 1.2450\r\nPrice now 1.2737\r\nCurrent Profit / Loss Position: +21 pips\r\n\r\nFT215\r\nUSD/SEK\r\nLong at 7.3520\r\nStop at 7.2500\r\nLimit 7.4170\r\nPrice now 7.3192\r\nCurrent Profit / Loss Position: -324 pips\r\n(This pair is hedged from -100 pips. I did this about 3 hours ago)\r\n\r\n<strong>FUNDAMENTAL TRADES:</strong>\r\n\r\nFUN44\r\nGBP/NZD\r\nLong at 2.0507\r\nStop at 1.9800\r\nLimit at 2.3200\r\nPrice Now: 2.0304\r\nCurrent Profit / Loss Position: -203 pips\r\n(This pair is hedged from -100 pips)\r\n\r\n<strong> </strong>\r\n<ol start=\"4\">\r\n	<li><strong> LIMIT &amp; STOP ORDERS WITH BROKERS:</strong></li>\r\n</ol>\r\nThere are no LIMIT ORDERS with my brokers at this present time. I do however have several set-ups ready to place after the FED tomorrow afternoon.\r\n\r\n&nbsp;\r\n\r\nGood luck today and take care.\r\nScott Pickering\r\nThe Pip Accumulator\r\n<a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a>\r\nTwitter: @ThePremService\r\nEmail: premiumserice@weeklyfxdrivethru.com\r\n\r\n<strong>DISCLAIMER:</strong>\r\n\r\nFLASH, 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.','#117 - THE DAILY FX POST, Wednesday 29th October 2014','','inherit','open','closed','','4644-revision-v1','','','2014-10-29 07:36:02','2014-10-29 12:36:02','',4644,'https://weeklyfxdrivethru.com/4644-revision-v1/',0,'revision','',0),(4649,1,'2014-10-30 07:10:44','2014-10-30 12:10:44','<strong><span style=\"font-size: 14pt;\">THE DAILY FX POST</span>\r\n<span style=\"font-size: 14pt;\"> from</span>\r\n<span style=\"font-size: 14pt;\"> THE PREMIUM SERVICE</span></strong>\r\n\r\n&nbsp;\r\n\r\n<strong>DATE: Thursday 30th October 2014\r\nREF: #118</strong>\r\n\r\n&nbsp;\r\n<ol>\r\n	<li><span style=\"font-size: 12pt;\"><strong> OVERVIEW – INITIAL THOUGHTS:</strong></span></li>\r\n</ol>\r\nBeing honest, I did not expect the hawkish statement and the market reaction that was provided following the FOMC statement yesterday. My immediate desire to try and locate a copy of the transcript or listen to Liesman on CNBC was taken over by the strength of the USD ripping through the markets.\r\n\r\nIt was best visualized in the USD/SEK, which was almost 600 pips negative just prior to the release. Within 20-25 minutes I was able although by error playing with other trades at the time close that trade with a positive +100 pips. In fact, so confident with the USD strength looking at the 10 minute chart on the DXY, I closed all my positive hedge trades (except the USD/CAD) and was able to bank more $$$ on the back of the statement.\r\n\r\nThe FED laid it out in simple terms: -\r\n<ul>\r\n	<li>End of QE.</li>\r\n	<li>Unemployment is below 6% and now they recognize the stability/improvement in the numbers.</li>\r\n	<li>Interest rates will rise in early 2015 and NOT 2016.</li>\r\n</ul>\r\nMoving ahead with trading, it may make it easy for us trading with the inter-market relationships. I have a feeling that we may now see a period of good data = strong USD and poor data = weak USD. Time will tell if this is the case.\r\n\r\nIn addition to the FED we had the RBNZ Monetary Policy Statement. In my opinion, after reading the statement, it means that there will be no interest rate rises for the medium / longer-term. Expectations of rate hikes have been curtailed.\r\n\r\nTherefore I am expecting a little consolidation and then a re-test of the 52-week lows with the NZD/USD at 0.7707.\r\n\r\nMoving on, European Markets are all RED this morning and U.S. futures are all RED at the moment. The Holy Trinity (OIL, GOLD &amp; COPPER) are also all negative\r\n\r\nU.S. advance GDP will be a biggie in about an hour. The markets are expecting 3%, if this is beaten it will interesting to see the USD reaction.\r\n\r\nOver the next few days and certainly after the weekend, we must watch very closely the moves in equities as I feel that they will come under quite a bit of pressure as the reality of no more QE and interest rate increases hits traders and fund managers.\r\n\r\n<strong> </strong>\r\n<ol start=\"2\">\r\n	<li><span style=\"font-size: 12pt;\"><strong> KEY NEWS EVENTS NEXT 24 hours (BASED UPON (NYC) EDT TIME:</strong></span></li>\r\n</ol>\r\nUSD: - Advance GDP and Unemployment Claims.\r\nAUD: - PPi.\r\n\r\n<strong> </strong><strong> </strong>\r\n<ol start=\"3\">\r\n	<li><span style=\"font-size: 12pt;\"><strong> EXISTING LIVE TRADES:</strong></span></li>\r\n</ol>\r\nI will try and get some charts out later today. I have a meeting with my bank later this morning and therefore, I will be away from my desk for about 3 to 4 hours. I am not looking to add any more new trades to the existing LIVE ones, but I may have a couple of LIMIT ORDERS to add.<strong> </strong>\r\n\r\n<strong>RADAR TRADES:</strong>\r\n\r\nThere are no LIVE RADAR TRADES at the present time.\r\n\r\n<strong> </strong>\r\n\r\n<strong>FLASH TRADES:</strong>\r\n\r\nFT190\r\nNZD/USD\r\nShort at 0.7793\r\nStop at 0.8050\r\nLimit at 0.6580\r\nPrice Now: 0.7806\r\nCurrent Profit / Loss Position: - 13 pips\r\n\r\nFT202\r\nUSD/CAD\r\nLong at 1.1340\r\nStop at 1.1170\r\nLimit at 1.1570\r\nPrice Now: 1.1185\r\nCurrent Profit / Loss Position: -155 pips\r\n(This pair is hedged from -70 pips)\r\n\r\nFT224\r\nEUR/USD\r\nShort at 1.2645\r\nStop at 1.720\r\nLimit 1.2450\r\nPrice now 1.2587\r\nCurrent Profit / Loss Position: +58 pips\r\n\r\nFT225\r\nGBP/USD\r\nShort at 1.6020\r\nStop at 1.6080\r\nLimit 1.5750\r\nPrice now 7.3192\r\nCurrent Profit / Loss Position: +19 pips\r\n\r\nFT226\r\nAUD/USD\r\nShort at 0.8800\r\nStop at 0.8850\r\nLimit 0.8000\r\nPrice now 0.8791\r\nCurrent Profit / Loss Position: +9 pips\r\n\r\nFT227\r\nUSD/CHF\r\nLong at at 0.9535\r\nStop at 0.9460\r\nLimit 0.9750\r\nPrice now 0.9577\r\nCurrent Profit / Loss Position: +42 pips\r\n\r\nFT228\r\nNZD/USD\r\nShort at 0.7787\r\nStop at 0.7826\r\nLimit 0.7710\r\nPrice now 0.7805\r\nCurrent Profit / Loss Position: -18 pips\r\n\r\n<strong> </strong><strong> </strong>\r\n\r\n<span style=\"font-size: 10pt;\"><strong>FUNDAMENTAL TRADES:</strong></span>\r\n\r\nFUN44\r\nGBP/NZD\r\nLong at 2.0507\r\nStop at 1.9800\r\nLimit at 2.3200\r\nPrice Now: 2.0502\r\nCurrent Profit / Loss Position: -5 pips\r\n\r\nFUN60\r\nEUR/NZD\r\nLong at 1.6140\r\nStop at 1.5850\r\nLimit at 1.7250\r\nPrice Now: 1.6134\r\nCurrent Profit / Loss Position: -6 pips\r\n<strong> </strong>\r\n<ol start=\"4\">\r\n	<li><span style=\"font-size: 12pt;\"><strong> LIMIT &amp; STOP ORDERS WITH BROKERS:</strong></span></li>\r\n</ol>\r\n<span style=\"font-size: 10pt;\"> There are no LIMIT ORDERS with my brokers at this present time.</span>\r\n\r\n&nbsp;\r\n\r\nGood luck today.\r\n\r\nScott Pickering\r\nThe Pip Accumulator\r\n<a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a>\r\nTwitter: @ThePremService\r\nEmail: premiumserice@weeklyfxdrivethru.com<strong> </strong>\r\n\r\n<strong>DISCLAIMER:</strong>\r\n\r\nFLASH, 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.','#118 - THE DAILY FX POST, Thursday 30th 2014','','inherit','open','closed','','4647-revision-v1','','','2014-10-30 07:10:44','2014-10-30 12:10:44','',4647,'https://weeklyfxdrivethru.com/4647-revision-v1/',0,'revision','',0),(4702,1,'2014-11-07 10:12:33','2014-11-07 15:12:33','<section class=\"members\"><a title=\"FX Glossary\" href=\"https://weeklyfxdrivethru.com/fx-glossary/\">FX Glossary</a><a title=\"Trading Basics\" href=\"https://weeklyfxdrivethru.com/trading-basics/\">Trading Basics</a><a title=\"Trading Strategies\" href=\"./trading-strategies/\">Trading Strategies</a><a title=\"Candlesticks\" href=\"./candlesticks/\">Candlesticks</a><a title=\"Chart Patterns\" href=\"./chart-patterns/\">Chart Patterns</a></section>','Education','','inherit','open','closed','','2267-revision-v1','','','2014-11-07 10:12:33','2014-11-07 15:12:33','',2267,'https://weeklyfxdrivethru.com/2267-revision-v1/',0,'revision','',0),(4651,1,'2014-10-31 08:06:39','2014-10-31 13:06:39','<strong><span style=\"font-size: 14pt;\">THE DAILY FX POST</span>\r\n<span style=\"font-size: 14pt;\"> from</span>\r\n<span style=\"font-size: 14pt;\"> THE PREMIUM SERVICE</span></strong>\r\n\r\n&nbsp;\r\n\r\n<strong>DATE: Friday 31st October 2014\r\nREF: #119</strong>\r\n\r\n&nbsp;\r\n<ol>\r\n	<li><span style=\"font-size: 12pt;\"><strong> OVERVIEW – INITIAL THOUGHTS:</strong></span></li>\r\n</ol>\r\nNobody was expecting the BOJ action. I think that I am pretty safe to say that their action took the market completely by surprise. QE expanded by 80 trillion yen per month plus other initiatives. At least you can say that they have nailed their colours to the mast.\r\n\r\nNext week we have Draghi….. If the ECB does anything substantial I will be gob smacked.\r\n\r\nGold is off 2% and Oil almost 1% lower with Copper at plus 1%. U.S. equities are following the European bourses, with U.S futures all well up.\r\n\r\nI think that today should be a rally in equities day thanks to the BOJ. I will be stunned if it is anything less.\r\n\r\nI am remaining sidelined until next week.\r\n\r\nIf you are going to trade today be careful, it\'s a Friday and in my opinion it’s all about the JPY and how it behaves. My contrarian view is that do NOT be surprised if see massive USD strength across all USD majors at the moment the commodity currencies are exempt. If they join in with USD strength it will be a day to remember.\r\n\r\nIf I were trading today it is selling into strength and buying the dips day.\r\n\r\nI would be looking at the NZD to sell at 0.7910 and the AUD around 0.8850. The EUR/USD and GBP/USD both look very range bound. Both have great support levels at 1.2550 and 1.5950 and the resistances are at 1.2650 and 1.6050.\r\n\r\n<strong> </strong>Be careful today could be wild because it appears set up to only be one way.\r\n<ol start=\"2\">\r\n	<li><span style=\"font-size: 12pt;\"><strong> KEY NEWS EVENTS NEXT 24 hours (BASED UPON (NYC) EDT TIME:</strong></span></li>\r\n</ol>\r\nCAD: - GDP.<strong> </strong>\r\n\r\n<strong> </strong><strong> </strong>\r\n<ol start=\"3\">\r\n	<li><span style=\"font-size: 12pt;\"><strong> EXISTING LIVE TRADES:</strong></span></li>\r\n</ol>\r\n<strong>RADAR TRADES:</strong>\r\n\r\nThere are no LIVE RADAR TRADES at the present time.<strong> </strong>\r\n\r\n&nbsp;\r\n\r\n<strong>FLASH TRADES:</strong>\r\n\r\nFT202\r\nUSD/CAD\r\nLong at 1.1340\r\nStop at 1.1170\r\nLimit at 1.1570\r\nPrice Now: 1.1208\r\nCurrent Profit / Loss Position: -132 pips\r\n(This pair is hedged from -70 pips)\r\n\r\n<strong> </strong>\r\n\r\n<strong>FUNDAMENTAL TRADES:</strong>\r\n\r\nThere are no LIVE FUNDAMENTAL TRADES at the present time.\r\n\r\n<strong> </strong><strong> </strong>\r\n<ol start=\"4\">\r\n	<li><span style=\"font-size: 12pt;\"><strong> LIMIT &amp; STOP ORDERS WITH BROKERS:</strong></span></li>\r\n</ol>\r\nThere are no LIMIT ORDERS with my brokers at this present time. The blog this weekend will have several trade ideas.\r\n\r\n&nbsp;\r\n\r\nGood luck today but take care it is Friday and I have a funny feeling.\r\n\r\nScott Pickering\r\nThe Pip Accumulator\r\n<a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a>\r\nTwitter: @ThePremService\r\nEmail: premiumserice@weeklyfxdrivethru.com<strong> </strong>\r\n\r\n<strong>DISCLAIMER:</strong>\r\n\r\nFLASH, 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.','#119 - DAILY FX POST, Friday 31st October 2014','','publish','open','closed','','119-daily-fx-post-friday-31st-october-2014','','','2014-10-31 08:06:39','2014-10-31 13:06:39','',0,'https://weeklyfxdrivethru.com/?post_type=member_posts&#038;p=4651',0,'member_posts','',0),(4652,1,'2014-10-31 08:06:08','2014-10-31 13:06:08','<strong><span style=\"font-size: 14pt;\">THE DAILY FX POST</span>\r\n<span style=\"font-size: 14pt;\"> from</span>\r\n<span style=\"font-size: 14pt;\"> THE PREMIUM SERVICE</span>\r\n\r\n</strong>\r\n\r\n<strong>DATE: Friday 31st October 2014\r\nREF: #119</strong>\r\n\r\n&nbsp;\r\n<ol>\r\n	<li><span style=\"font-size: 12pt;\"><strong> OVERVIEW – INITIAL THOUGHTS:</strong></span></li>\r\n</ol>\r\nNobody was expecting the BOJ action. I think that I am pretty safe to say that their action took the market completely by surprise. QE expanded by 80 trillion yen per month plus other initiatives. At least you can say that they have nailed their colours to the mast.\r\n\r\nNext week we have Draghi….. If the ECB does anything substantial I will be gob smacked.\r\n\r\nGold is off 2% and Oil almost 1% lower with Copper at plus 1%. U.S. equities are following the European bourses, with U.S futures all well up.\r\n\r\nI think that today should be a rally in equities day thanks to the BOJ. I will be stunned if it is anything less.\r\n\r\nI am remaining sidelined until next week.\r\n\r\nIf you are going to trade today be careful, it\'s a Friday and in my opinion it’s all about the JPY and how it behaves. My contrarian view is that do NOT be surprised if see massive USD strength across all USD majors at the moment the commodity currencies are exempt. If they join in with USD strength it will be a day to remember.\r\n\r\nIf I were trading today it is selling into strength and buying the dips day.\r\n\r\nI would be looking at the NZD to sell at 0.7910 and the AUD around 0.8850. The EUR/USD and GBP/USD both look very range bound. Both have great support levels at 1.2550 and 1.5950 and the resistances are at 1.2650 and 1.6050.\r\n\r\n<strong> </strong>Be careful today could be wild because it appears set up to only be one way.\r\n<ol start=\"2\">\r\n	<li><span style=\"font-size: 12pt;\"><strong> KEY NEWS EVENTS NEXT 24 hours (BASED UPON (NYC) EDT TIME:</strong></span></li>\r\n</ol>\r\nCAD: - GDP.<strong> </strong>\r\n\r\n<strong> </strong><strong> </strong>\r\n<ol start=\"3\">\r\n	<li><span style=\"font-size: 12pt;\"><strong> EXISTING LIVE TRADES:</strong></span></li>\r\n</ol>\r\n<strong>RADAR TRADES:</strong>\r\n\r\nThere are no LIVE RADAR TRADES at the present time.<strong> </strong>\r\n\r\n&nbsp;\r\n\r\n<strong>FLASH TRADES:</strong>\r\n\r\nFT202\r\nUSD/CAD\r\nLong at 1.1340\r\nStop at 1.1170\r\nLimit at 1.1570\r\nPrice Now: 1.1208\r\nCurrent Profit / Loss Position: -132 pips\r\n(This pair is hedged from -70 pips)\r\n\r\n<strong> </strong>\r\n\r\n<strong>FUNDAMENTAL TRADES:</strong>\r\n\r\nThere are no LIVE FUNDAMENTAL TRADES at the present time.\r\n\r\n<strong> </strong><strong> </strong>\r\n<ol start=\"4\">\r\n	<li><span style=\"font-size: 12pt;\"><strong> LIMIT &amp; STOP ORDERS WITH BROKERS:</strong></span></li>\r\n</ol>\r\nThere are no LIMIT ORDERS with my brokers at this present time. The blog this weekend will have several trade ideas.\r\n\r\n&nbsp;\r\n\r\nGood luck today but take care it is Friday and I have a funny feeling.\r\n\r\nScott Pickering\r\nThe Pip Accumulator\r\n<a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a>\r\nTwitter: @ThePremService\r\nEmail: premiumserice@weeklyfxdrivethru.com<strong> </strong>\r\n\r\n<strong>DISCLAIMER:</strong>\r\n\r\nFLASH, 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.','#119 - DAILY FX POST, Friday 31st October 2014','','inherit','open','closed','','4651-revision-v1','','','2014-10-31 08:06:08','2014-10-31 13:06:08','',4651,'https://weeklyfxdrivethru.com/4651-revision-v1/',0,'revision','',0),(4653,1,'2014-10-31 08:06:39','2014-10-31 13:06:39','<strong><span style=\"font-size: 14pt;\">THE DAILY FX POST</span>\r\n<span style=\"font-size: 14pt;\"> from</span>\r\n<span style=\"font-size: 14pt;\"> THE PREMIUM SERVICE</span></strong>\r\n\r\n&nbsp;\r\n\r\n<strong>DATE: Friday 31st October 2014\r\nREF: #119</strong>\r\n\r\n&nbsp;\r\n<ol>\r\n	<li><span style=\"font-size: 12pt;\"><strong> OVERVIEW – INITIAL THOUGHTS:</strong></span></li>\r\n</ol>\r\nNobody was expecting the BOJ action. I think that I am pretty safe to say that their action took the market completely by surprise. QE expanded by 80 trillion yen per month plus other initiatives. At least you can say that they have nailed their colours to the mast.\r\n\r\nNext week we have Draghi….. If the ECB does anything substantial I will be gob smacked.\r\n\r\nGold is off 2% and Oil almost 1% lower with Copper at plus 1%. U.S. equities are following the European bourses, with U.S futures all well up.\r\n\r\nI think that today should be a rally in equities day thanks to the BOJ. I will be stunned if it is anything less.\r\n\r\nI am remaining sidelined until next week.\r\n\r\nIf you are going to trade today be careful, it\'s a Friday and in my opinion it’s all about the JPY and how it behaves. My contrarian view is that do NOT be surprised if see massive USD strength across all USD majors at the moment the commodity currencies are exempt. If they join in with USD strength it will be a day to remember.\r\n\r\nIf I were trading today it is selling into strength and buying the dips day.\r\n\r\nI would be looking at the NZD to sell at 0.7910 and the AUD around 0.8850. The EUR/USD and GBP/USD both look very range bound. Both have great support levels at 1.2550 and 1.5950 and the resistances are at 1.2650 and 1.6050.\r\n\r\n<strong> </strong>Be careful today could be wild because it appears set up to only be one way.\r\n<ol start=\"2\">\r\n	<li><span style=\"font-size: 12pt;\"><strong> KEY NEWS EVENTS NEXT 24 hours (BASED UPON (NYC) EDT TIME:</strong></span></li>\r\n</ol>\r\nCAD: - GDP.<strong> </strong>\r\n\r\n<strong> </strong><strong> </strong>\r\n<ol start=\"3\">\r\n	<li><span style=\"font-size: 12pt;\"><strong> EXISTING LIVE TRADES:</strong></span></li>\r\n</ol>\r\n<strong>RADAR TRADES:</strong>\r\n\r\nThere are no LIVE RADAR TRADES at the present time.<strong> </strong>\r\n\r\n&nbsp;\r\n\r\n<strong>FLASH TRADES:</strong>\r\n\r\nFT202\r\nUSD/CAD\r\nLong at 1.1340\r\nStop at 1.1170\r\nLimit at 1.1570\r\nPrice Now: 1.1208\r\nCurrent Profit / Loss Position: -132 pips\r\n(This pair is hedged from -70 pips)\r\n\r\n<strong> </strong>\r\n\r\n<strong>FUNDAMENTAL TRADES:</strong>\r\n\r\nThere are no LIVE FUNDAMENTAL TRADES at the present time.\r\n\r\n<strong> </strong><strong> </strong>\r\n<ol start=\"4\">\r\n	<li><span style=\"font-size: 12pt;\"><strong> LIMIT &amp; STOP ORDERS WITH BROKERS:</strong></span></li>\r\n</ol>\r\nThere are no LIMIT ORDERS with my brokers at this present time. The blog this weekend will have several trade ideas.\r\n\r\n&nbsp;\r\n\r\nGood luck today but take care it is Friday and I have a funny feeling.\r\n\r\nScott Pickering\r\nThe Pip Accumulator\r\n<a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a>\r\nTwitter: @ThePremService\r\nEmail: premiumserice@weeklyfxdrivethru.com<strong> </strong>\r\n\r\n<strong>DISCLAIMER:</strong>\r\n\r\nFLASH, 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.','#119 - DAILY FX POST, Friday 31st October 2014','','inherit','open','closed','','4651-revision-v1','','','2014-10-31 08:06:39','2014-10-31 13:06:39','',4651,'https://weeklyfxdrivethru.com/4651-revision-v1/',0,'revision','',0),