&nbsp;

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

</strong></span>

<span style="font-size: 10pt;"><strong>DATE: Monday 6<sup>th</sup> October 2014
REF: #101</strong></span>

&nbsp;
<ol>
	<li><span style="font-size: 12pt;"><strong> OVERVIEW – INITIAL THOUGHTS:</strong></span></li>
</ol>
Before starting today’s blog, I just want to say thanks for the subscriptions from the new members who have joined over the past few days.

With the excitement of NFP out of the way, what lies ahead?

I am trying not to get too carried away but I think we have a strong chance of some great momentum moves ahead as the USD gains strength. We have seen quite a big move in the USD (DXY) following NFP that today, at least, I am expecting a little consolidation / pullback. So far this has been the case but pullbacks are incredibly shallow so far.

On Friday last week I took 50% of my position sizes off the table to limit risk over the weekend. As I tweeted I would re-enter on pullbacks, I tweeted my thoughts on entry levels last night (EDT) and those levels I am sticking with.

I had a function yesterday afternoon following the Japanese GP, so I missed the open. Had I been around I would have closed all trades to enter fresh again as the GAPS were in my favour, as it is, I am still in all the original trades and waiting on pullbacks to add. Only the AUD/USD has triggered from last nights entry levels.

I think that the USD strength is consolidating so it is a great market at the moment for selling into rallies and buying on dips.

Watch GOLD, OIL and COPPER today, there are consolidating as well presently but they could lead the USD higher. In addition the commodity currencies should be eyed. AUD/USD, NZD/USD and USD/CAD have all pulled back a little, they will lead especially if equities pullback.

I am away for the day very shortly to Saratoga Springs (U.S.) for a meeting and so I will not be around at all.

I am comfortable to leave all trades as they are and my re-entry limit orders in position as well.

<strong> </strong>
<ol start="2">
	<li><span style="font-size: 12pt;"><strong> KEY NEWS EVENTS TODAY (BASED UPON (NYC) EDT TIME ZONE):</strong></span></li>
</ol>
CAD: - IVEY PMi.
NZD: - Business Confidence.
JPY: - Monetary Policy Statement
AUD: - Cash Rate and RBA Statement.

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

RT143
AUD/NZD
Long at 1.1200
Stop at 1.0800
Limit at 1.1550
Price Now: 1.1209
Current Profit / Loss Position: +9 pips.

<strong>FLASH TRADES:</strong>

FT190
NZD/USD
Short at 0.7793
Stop at 0.7930
Limit at 0.6580
Price Now: 0.7787
Current Profit / Loss Position: +6 pips

FT191
AUD/USD
Short at 0.8709
Stop at 0.8820
Limit at 0.8000
Price Now: 0.8729
Current Profit / Loss Position: -20 pips

FT192
EUR/USD
Short at 1.2537
Stop at 1.2620
Limit at 1.1860
Price Now: 1.2560
Current Profit / Loss Position: -23 pips

FT193
GBP/USD
Short at 1.6015
Stop at 1.6080
Limit at 1.5750
Price Now: 1.5986
Current Profit / Loss Position: +29 pips

FT194
USD/CAD
Long at 1.1230
Stop at 1.1150
Limit at 1.1570
Price Now: 1.1218
Current Profit / Loss Position: -12 pips<strong> </strong>

FT195
USD/CHF
Long at 0.9655
Stop at 0.9580
Limit at 0.9950
Price Now: 0.9646
Current Profit / Loss Position: -9 pips

<strong>FUNDAMENTAL TRADES:</strong>

FUN44
GBP/NZD
Long at 2.0507
Stop at 2.0000
Limit at 2.3200
Price Now: 2.0522
Current Profit / Loss Position: +15 pips

<strong> </strong>
<ol start="4">
	<li><span style="font-size: 12pt;"><strong> LIMIT &amp; STOP ORDERS WITH BROKERS:</strong></span></li>
</ol>
None are in position for new trades at the moment. I will look at Nordic and Commodity Cross-rate pairs this evening when I get back home from trip to the USA.<strong> </strong>

<strong> </strong>
<ol start="5">
	<li><span style="font-size: 12pt;"><strong> FINAL THOUGHTS:</strong></span></li>
</ol>
Consolidations after NFP and pullbacks are in play today. Be careful try not to pick the tops but look at each pair on its individual merits. I will NOT be able to amend any trades today but all stops and position sizes that could trigger are well within my RISK MANAGEMENT tolerances.

Do NOT over size your positions, as I know a few of you do this. If you have to wait until you have a healthy profit and can place a protective stop. This is NOT my trading style but I know some of you do this.

I have my TRADE PLAN and I stick to it…..

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

<strong>DISCLAIMER:</strong>

FLASH, RADAR and FUNDAMENTAL trade set-ups, “Tweets” and “Trade ideas” that are posted in my blogs or on Twitter are trades and set-ups that interest me. They are provided for training and informational purposes only and should not be interpreted as an offer, solicitation or recommendation of any specific security or investment strategy. Past performance is not indicative of future results. Trading Forex carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to trade any such leveraged products you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with trading on margin, and seek advice from an independent financial adviser if you have any doubts.

&nbsp;