<strong><u>THE WEEKLY FX DRIVE THRU
</u></strong>BLOG PREMIUM SERVICE #86
<ol>
	<li><strong> INTRODUCTION:</strong></li>
</ol>
The major changes I thought would be in place this week to the blog did not materialize. Unfortunately, my scheduled SKYPE meeting with my subscriber work group was cancelled at the last minute.

Just a point of note that may interest some of you, if you subscribe to receive this blog via my website <a href="http://www.weeklyfxdrivethru.com">www.weeklyfxdrivethru.com</a> to receive all publications, you are automatically entered into a free monthly draw. Each month during 2016 one lucky subscriber will receive a free subscription to the PREMIUM SERVICE (SILVER). It costs nothing to subscribe via my website and it could be you that wins!!

So as a winner, in addition to having free access to my blog you will also receive my trade set ups (Subscription cost for 4 weeks = $100.00) which could be a game changer for you.

The first draw will take place next week and to keep myself impartial we have friends over next Thursday / Friday, I shall ask one of them to pick at random. The winner will be contacted and fully set up within 24 hours.

<strong> </strong>
<ol start="2">
	<li><strong> THE PREMIUM SERVICE:</strong></li>
</ol>
<u>2.1: WHAT IS THE PREMIUM SERVICE:</u>

The PREMIUM SERVICE is a subscriber, fee based trade set-up option for Forex traders regardless of experience or background. I provide traders suggested trades, and some market commentary related to open trades or factors within the overall market that have my interest.

Full details of the PREMIUM SERVICE and the various trade styles plus how suggested trade set-ups are communicated can be found on my website landing page at <a href="http://www.weeklyfxdrivethru.com">www.weeklyfxdrivethru.com</a> by selecting THE PREMIUM SERVICE tab.

Additional information can be found by clicking TESTIMONIALS, PART-TIME TRADERS and FX PROMOTIONS tabs. To subscribe to THE PREMIUM SERVICE you will require a PayPal account.

<u>
2.2: PREMIUM SERVICE PERFORMANCE THIS MONTH &amp; YEAR TO DATE:</u>

NET PIPS THIS MONTH SO FAR: +1,097
NET PIPS THIS YEAR SO FAR: +1,097

If you want more data or detail about the performance and my website does not answer your questions, contact me directly and I will supply the trading data you require. There are NO secrets. There are many, many spreadsheets detailing performance trade by trade and by trade style, way too many to place in this blog. If you are interested in the PREMIUM SERVICE and want more information, all you have to do is ask.

<u>
2.3: PREMIUM SERVICE SUBSCRIBER PROMOTION:</u>

Please note that until the end of February 2016, I have in place a very special subscription offer. This can be checked out on my website landing page at <a href="http://www.weeklyfxdrivethru.com">www.weeklyfxdrivethru.com</a> by clicking on the FX PROMOTIONS tab at the top of the page.

<strong> </strong>
<ol start="3">
	<li><strong> THE FX MARKET PLACE:</strong></li>
</ol>
<strong>3.1: LAST WEEK’S NEWS – MY THOUGHTS:</strong>

<u>3.1.1: THE BANK OF CANADA – INTEREST RATE DECISION:</u>

As Stephen Fry once said in an episode of the TV comedy series Blackadder; “Well, glaze my nipples and call me Rita!”

To say that I was stunned and shocked with the news that interest rates were left unchanged would be an understatement. It appears that Stephen Poloz has decided that the stimulus to the Canadian economy will come from fiscal stimulus as a result of the boy’s (Justin Trudeau) first budget in which, based on his election manifesto he plans to spend big. Sadly for Canadian’s, and I’m one of them, although he promised big money spending on infrastructure, this may now not happen. I hope that the allocated budget goes to infrastructure and also that there are additional funds put to one side to fix the economic issues. Sadly with oil revenues down, I cannot see anything other than a huge political backlash if he creates a deficit that will require many years to repay.

We shall see, but I still think that central bank involvement will be required.

Basically, Poloz believes that that Canadian economy is in relatively good shape. My response is very simple: Can we all have some of what he’s smoking. I really think he and the BOC committee have lost the plot. Even during the Canadian economy’s recession last year he was upbeat. It can’t be alcohol; it must be a substance he’s taking. I drink and I think that the economy is sliding towards the abyss. I don’t smoke maybe that’s what is missing.

Bear in mind that the Canadian economy is that good, GDP targets / expectations were reduced…yup in great shape. Nothing to look at here!

As I have said many times the BOC policy committee are so deep in thick pile carpets, potted plants and decanters of sherry, plus their offices are so high up the air is thin and the real world is so far away. They bury their heads in the sand.

We shall see…

&nbsp;

<u>3.1.2: ECB – DRAGHI PRESS CONFERENCE:</u>

Mario Draghi put it out there again. “The ECB will review and possibly reconsider” monetary policy at it’s next meeting in March”.

Hint bloody hint…

Initially the EUR/USD collapsed about 100 pips and for reasons I still do not know it bounced 65-70 pips on Thursday afternoon after the announcement.

These markets (all of them), are so skittish, moves are unfathomable at times.

Anyways, these comments from Draghi should keep the EUR/USD pressured lower towards 1.0710. The range as far as I am concerned is now 1.0710 to 1.1000. Lets work with this for the next while.

At least up until the next FED statement next week!

<u> </u>

<u>3.1.3: OIL:</u>

Iran came on-line last weekend and by Tuesday was offering discounts to parts of Europe who wanted to purchase its oil.

Happy days…

No surprise therefore that the oil roller-coaster party continued to ride last week. We hit new lows of $27.57 and then bounced above $30.00, which had the doom and gloom, end of the world as we know it pundits running for the hills. The bounce continued through to Friday and held above $30.00 for most of the day and closed the week above $31.00.

Do not be fooled….

The oil fundamentals are all still there, nothing has changed. It will take months to pull this around from a supply and demand perspective, and, never forget, oil is a corrupt, high stakes poker gamble by mega risk-takers wanting to show they can control the market and turn around bottoms.

One can see these guys walking around Wall Street and Chicago; they are easily identified. These are the guys pushing wheelbarrows in front of themselves that are carrying their huge balls. By comparison, I am a more conservative and cautious trader; a couple of eggcups would satisfy my bravery.

God love me…

&nbsp;

<u>3.1.4: MARK CARNEY:</u>

Last Tuesday at the Queen Mary, University in London, the oracle of Threadneedle Street and head JCB operator for the BOE stated that the BOE would not be raising interest rates.

His quote was “Now is not the time to raise interest rates”

He cited, oil, China, moderation in UK growth and wages as being the contributing factors to conclude that not enough progress had been made to warrant a tightening of monetary policy.

So there you have it…the position for this month!

Clear forward guidance from Carney; let us see how long this lasts.

&nbsp;

<strong>3.2: THIS WEEK’S NEWS:</strong>

<u>3.2.1: THIS WEEK’S FOREX NEWS THAT INTERESTS ME:</u>

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

MONDAY: N/A.

TUESDAY: AUD - CPi.

WEDNESDAY: USD – FOMC Statement.
WEDNESDAY: NZD – Interest Rate and Statement.
WEDNESDAY: NZD – Trade Balance.

THURSDAY: JPY – BOJ Press Conference, Policy Statement etc.

FRIDAY: CAD - GDP.
FRIDAY: USD – GDP.

&nbsp;

<u>3.2.2: THE USD MAJORS SUPPORT &amp; RESISTANCE LEVELS: </u>

(In this section I have as usual kept my charts as minimalist as possible. With regards to charting in my opinion less is more!! I hope that they are clear. All readers regardless of level of experience should be able to follow my thoughts from my comments to the levels on the charts with ease).

This week all my comments are contained on the charts.

EUR/USD - Weekly Closing Price: 1.0796
<a href="https://weeklyfxdrivethru.com/eurusd-d-23012016/" rel="attachment wp-att-7170"><img class="aligncenter size-large wp-image-7170" src="https://weeklyfxdrivethru.com/wp-content/uploads/2016/01/EURUSD-D-23012016-1024x538.png" alt="EURUSD D 23012016" width="1024" height="538" /></a>

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GBP/USD - Weekly Closing Price: 1.4262

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<a href="https://weeklyfxdrivethru.com/gbpusd-d-23012016/" rel="attachment wp-att-7171"><img class="aligncenter size-large wp-image-7171" src="https://weeklyfxdrivethru.com/wp-content/uploads/2016/01/GBPUSD-D-23012016-1024x538.png" alt="GBPUSD D 23012016" width="1024" height="538" /></a>

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AUD/USD - Weekly Closing Price: 0.7002

&nbsp;

<a href="https://weeklyfxdrivethru.com/audusd-d-23012016/" rel="attachment wp-att-7169"><img class="aligncenter size-large wp-image-7169" src="https://weeklyfxdrivethru.com/wp-content/uploads/2016/01/AUDUSD-D-23012016-1024x538.png" alt="AUDUSD D 23012016" width="1024" height="538" /></a>

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NZD/USD - Weekly Closing Price: 0.6487

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<a href="https://weeklyfxdrivethru.com/nzdusd-d-23012016/" rel="attachment wp-att-7172"><img class="aligncenter size-large wp-image-7172" src="https://weeklyfxdrivethru.com/wp-content/uploads/2016/01/NZDUSD-D-23012016-1024x538.png" alt="NZDUSD D 23012016" width="1024" height="538" /></a>

&nbsp;

USD/CAD - Weekly Closing Price: 1.4121

&nbsp;

<a href="https://weeklyfxdrivethru.com/usdcad-d-2302016/" rel="attachment wp-att-7173"><img class="aligncenter size-large wp-image-7173" src="https://weeklyfxdrivethru.com/wp-content/uploads/2016/01/USDCAD-D-2302016-1024x538.png" alt="USDCAD D 2302016" width="1024" height="538" /></a>

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USD/CHF - Weekly Closing Price: 1.0162

&nbsp;

<a href="https://weeklyfxdrivethru.com/usdchf-d-23012016/" rel="attachment wp-att-7174"><img class="aligncenter size-large wp-image-7174" src="https://weeklyfxdrivethru.com/wp-content/uploads/2016/01/USDCHF-D-23012016-1024x538.png" alt="USDCHF D 23012016" width="1024" height="538" /></a>

&nbsp;

USD/JPY - Weekly Closing Price: 118.75

<strong> </strong>

<a href="https://weeklyfxdrivethru.com/usdjpy-d-23012016/" rel="attachment wp-att-7175"><img class="aligncenter size-large wp-image-7175" src="https://weeklyfxdrivethru.com/wp-content/uploads/2016/01/USDJPY-D-23012016-1024x538.png" alt="USDJPY D 23012016" width="1024" height="538" /></a>

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&nbsp;

<strong>3.3: WHAT’S ON MY MIND:</strong>

&nbsp;
<p style="text-align: center;"><strong>IT’S ALL NOISE… NOTHING HAS</strong>
<strong>FUNDAMENTALLY CHANGED</strong></p>
To all of you traders who went out spending lavish amounts of cash on KRUG Champagne, dining in the finest restaurants that you could find, booking first class air tickets and holidaying in the finest hotels at luxurious white sandy beaches taking in the rays from the sun knocking back exotic cocktails, believing the naysayer’s that the end of the world was upon us….

I bet you feel like prized “pillocks” now…

Yes, we have seen crude oil move lower and yes, the markets have decided that crude rules and yes, the crude oil market is really a one-sided market. All we are doing with this bounce back above $30.00 is seeing a squeeze. However, fundamentally nothing has changed. We have so much stockpiled and in reserves all over the world, it’s crazy. Another year or so without a supplier behavioral change and we will have more stored above the ground than what there is left in the ground… maybe not quite but you get my point.

I even had a knock on the door yesterday from an Exxon representative looking for spare bins to store crude in…. joking for now.

Moving on…

This year so far has been a crazy trading environment no matter what market you trade. As a Forex trader it has been bizarre. That is the best description I can come up with. Moves have been swift, volatile and at times even if you consider yourself to be a very accomplished technical trader, levels meant little at times.

What has held however, are the bigger trading ranges. There are of course one or two exceptions and there always are but basically the wider trading ranges held.
<ul>
	<li>EUR/USD: 1.0710 to 1.1060 held.</li>
	<li>GBP/USD: Was the big exception it sold off to 1.4100, about 800 pips so far.</li>
	<li>AUD/USD: Broke previous 52-week lows and has pulled back inside range.</li>
	<li>NZD/USD: 0.6240 to 0.6880 held.</li>
	<li>USD/CAD: with oil falling it broke to new 52-week highs, now back in range.</li>
	<li>USD/CHF: 0.9850 to 1.0330 held.</li>
	<li>USD/JPY: 116.00 to 120.00 held.</li>
</ul>
What we have is a market full of uncertainties and FEAR…. plus a good dose of GREED.

We have known for months that China has been slowing and that the GDP objectives had been revised to 7%. In the months running up to the full year figure being released China had been in slowdown mode. The vast majority of the economic data released was always falling short of expectations. It was obvious that with this as a backdrop the final GDP figure would be pressured.

From my own perspective, I wonder what the true GDP figure actually is 5%, 5.5%, 6% or 6.5%... Frankly, the markets debate the published data as if Moses brought it down from Mount Sinai scorched into tablets of stone. When pushed not very many analysts will admit that they actually believe the data we are given.

Quite bizarre really, we don't believe the data yet we react as if it’s accurate.

Then of course the PBOC (Strings held by the Chinese government) uses the Yuan as a tool to play with economic stimulus into the Chinese economy. They (PBOC) weaken the reference rate to stimulate… to us normal folk that means currency manipulation.

Yes…Currency wars are all over the world and still going strong.

So the beginning of 2016, gave us Chinese GDP that slightly missed expectations, so as a pre-cursor probably knowing what figure they were going to announce as final GDP, the PBOC decided to aggressively have a shot at weakening their currency initially to make Chinese finished goods more competitive in the Asian markets, where they can measure immediate growth.

A GDP miss and currency manipulation is like a red rag to a bull in the equity markets. Then add to this cocktail the sudden realization that the oil market does operate within the boundaries of the economic laws of supply and demand   and we had a sell-off. A sell-off exacerbated by Iranian oil coming back on line and within 48 hours of returning to the export market the Iranians were offering discounts beyond the quoted market price to some European governments.

Chaos, panic, fear, greed, stupidity and large testicles were all the word’s I was using to describe what was going on day after day.

Common sense… forget that!

God love her, Mandy Drury from CNBC was uttering “Buy the dip, buy the dip”, I remember shouting to my wife one lunch-time on hearing the CNBC call of buy the dip… “Buy the fecking dip for God’s sake give me a fecking break”. Of course at this point in proceedings, program guests made references to 2008-2009!

Holy Mother of God….

Now I do not want to be accused of being blasé or complacent, but I believe all the smart money is in cash at the moment. This makes perfect sense to me despite what CNBC and BLOOMBERG anchors state, cash is a position. The volumes in the sell-offs were higher volumes than usual trading volumes. The bounces were on the other hand, conducted with much smaller volumes and this is possible as the markets are essentially one –sided.

What does this tell me?

Mainly lack of conviction and non-belief in the move. The main upside moves last week were on the back of Mario Draghi rhetoric and not on the market fundamentals. Until this subtle change is made I am afraid to say that volatility will remain in situ.

I am sick of hearing that the American economy is in good shape. The stock market is not the economy and maybe this realization is starting to hit home. Wall Street and Main Street have always been two different places as far as I am concerned. It is taking the markets some time to realize this difference.

If you are looking to blame anyone for this, blame the FED, blame Janet Yellen and her lads.

Moving to normalization will take time and it's a learning curve with pain and because we have had zero / zirp for years and years many of the “experts” on Wall Street and the likes know nothing other than “Buy the Dip”…”Buy the Dip”… “Buy the Dip”.

We have Central Bank divergence and we have a swoop of traders on Wall Street and the like who have had their hands held and bottoms wiped for them for the past 7-8 years. They need to learn new tricks.

So as Forex traders we have normalization to deal with as the Fed increases interest rates this year. Despite all the talk on the TV the FOMC policy committee, have between 4 and 6 rate hikes in 2016-17. As long as employment remains within guidelines and the data continues not to surprise too much and at least shows a trending consistency in the FOMC preferred direction, rates are increasing…. that is a fact.

We have great opportunities ahead.

<strong> </strong>
<ol start="4">
	<li><strong> PREMIUM SERVICE (GOLD) EXCLUSIVE CONTENT:</strong></li>
</ol>
(This area contains exclusive content for PREMIUM SERVICE (GOLD) subscribers)

<strong>4.1: THE PREMIUM SERVICE – TRADING REVIEW:
</strong>(This section can cover a multitude of points / facts etc. Basically it’s a 360-degree review, which I think should interest subscribers):

Whilst I have added $$$ and pips in this past week and almost completely eroded my losses from December 2015, I am still not 100% happy with the PREMIUM SERVICE performance so far.

I know that last year was last year and I should move on, but December last year haunts me. At least clearing those losses makes me feel much better.

I have my personal goal of 1,000 pips per month. Basically 10 months trading a year and 10,000 pips per annum goal, so I am on target and happy generally.

My fine-tuning points moving forward…
<ol>
	<li>I have not let the PART-TIME TRADER trades run as far as I should have. My only excuse / reason for this are the skittish markets. I have the very basic desire to succeed and not fail. I trade to make money not lose money and for these basic reasons while the markets have been so weird these initial two weeks or so I have not been prepared to let these trades run.</li>
	<li>I have now more clearly defined in my head the set-ups for PART-TIME TRADER trades and FUNDAMENTAL trades as there are some overlaps. This may not be important to you but to me this is a paramount decision, which I am glad to say that I have defined.</li>
	<li>I will try to be more specific with my daily TRADE PLAN tweets. I think that it is beneficial for you to see what I am thinking about. I prefer to write this as the European markets slow down and before the U.S. markets open.</li>
</ol>
<strong>4.2: TRADE STYLE DEFINITIONS:</strong>

<u>4.2.1: RADAR TRADES:

</u>These are pre-meditated entry trades set from either Fibonacci levels, pivot points or previous support and resistance based off a combination of horizontal or trend line support or resistance.
The goal is always if possible to swing trade these trades by establishing a position that if market conditions apply allow the trade to gather traction and develop into a longer-term position trade.

<u>4.2.2: FLASH TRADES:

</u>Mainly simply, opportunist trades in LIVE market conditions. These trades are either based off a pullback strategy, a GIMME10 strategy, or off momentum in a trading pair at the time of entry.
The goal is to either take 10-30 pips or see a sufficient move to place a protective stop in place to see if a swing trade develops.
Some FLASH TRADES may form part of an overall trading plan with a given currency pair, but the entry could not be made via a LIMIT ORDER.

In addition in 2016, some FLASH TRADES can be of a longer duration, with very specific goals.

<u>4.2.3: FUNDAMENTAL TRADES:

</u>These will be trades based off my TRADING PLAN goals for trades in line with my longer-term market views.
Trades in this area will use in addition Fibonacci levels, Pivot points, trend lines and prior support and resistance levels, weekly and monthly ATR’s (Average True Ranges) when setting Stop Loss levels.
These trades are hopefully of a longer-term nature. They will be initially “single-lot” sized trades due to the wider stop placements that will be applied.

<u>4.2.4: PART-TIME TRADER TRADES:</u>

These trade set-ups are intended to have a longer-term trading perspective. They are not only targeted at traders who consider they are part-time Forex traders; obviously, all traders can of course take advantage. (My definition of a part-time trader is one who is only able to look at their computer screens, or, mobile devices to check trades two or three times a day).

A key feature of these set-ups is that they have much wider than normal stops to allow for market swings and volatility. The trades therefore have a smaller position size to allow for the swings in volatility, but multiple trades in the same currency pair are added when the core trade has gained traction in the desired direction.

My goal is to have multiple trades open/live at any one time and maybe 2/3 open/live trades with the same currency pair. I will of course suggest to take some profits along the way, but hopefully at the same time letting trades run as far as possible.

<strong> </strong>

<strong>4.3: THE PREMIUM SERVICE PERFORMANCE SPREADSHEETS:</strong><u>
</u>
<u>4.3.1: RADAR TRADES:</u>

<u><a href="https://weeklyfxdrivethru.com/radar1-23012016/" rel="attachment wp-att-7161"><img class="aligncenter size-full wp-image-7161" src="https://weeklyfxdrivethru.com/wp-content/uploads/2016/01/RADAR1-23012016.png" alt="RADAR1 23012016" width="519" height="566" /></a></u>

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<a href="https://weeklyfxdrivethru.com/radar2-23012016/" rel="attachment wp-att-7162"><img class="aligncenter size-full wp-image-7162" src="https://weeklyfxdrivethru.com/wp-content/uploads/2016/01/RADAR2-23012016.png" alt="RADAR2 23012016" width="491" height="570" /></a>

<u>

4.3.2: FLASH TRADES:</u>

<u><a href="https://weeklyfxdrivethru.com/flash-23012016/" rel="attachment wp-att-7163"><img class="aligncenter size-full wp-image-7163" src="https://weeklyfxdrivethru.com/wp-content/uploads/2016/01/FLASH-23012016.png" alt="FLASH 23012016" width="492" height="572" /></a>

</u>

<u>4.3.3: FUNDAMENTAL TRADES:</u>

<u>
<a href="https://weeklyfxdrivethru.com/fun-23012016/" rel="attachment wp-att-7164"><img class="aligncenter size-full wp-image-7164" src="https://weeklyfxdrivethru.com/wp-content/uploads/2016/01/FUN-23012016.png" alt="FUN 23012016" width="500" height="557" /></a>
</u>

&nbsp;

<u>4.3.4: PART-TIME TRADER TRADES: </u>

<u>
<a href="https://weeklyfxdrivethru.com/ptttrades-23012016/" rel="attachment wp-att-7165"><img class="aligncenter size-full wp-image-7165" src="https://weeklyfxdrivethru.com/wp-content/uploads/2016/01/PTTTRADES-23012016.png" alt="PTTTRADES 23012016" width="490" height="543" /></a>
</u>

<u>4.3.5: MONTH TO DATE- SUMMARY OF PERFORMANCE:</u>

<u>
<a href="https://weeklyfxdrivethru.com/ps-profits1-23012016/" rel="attachment wp-att-7159"><img class="aligncenter size-full wp-image-7159" src="https://weeklyfxdrivethru.com/wp-content/uploads/2016/01/PS-PROFITS1-23012016.png" alt="PS PROFITS1 23012016" width="536" height="527" /></a>
</u>

<u>4.3.6: YEAR TO DATE SUMMARY OF PERFORMANCE:</u>

<u> </u>

<u><a href="https://weeklyfxdrivethru.com/ps-profits2-23012016/" rel="attachment wp-att-7160"><img class="aligncenter size-full wp-image-7160" src="https://weeklyfxdrivethru.com/wp-content/uploads/2016/01/PS-PROFITS2-23012016.png" alt="PS PROFITS2 23012016" width="512" height="506" /></a></u>

&nbsp;

<u>4.3.7: PROFIT/LOSS TRADE RATIOS BY MONTH &amp; YEAR TO DATE:</u>

Not until the end of the month.

<u>4.3.8: RISK/REWARD REVIEW BY MONTH &amp; YEAR TO DATE:</u><u>

</u>Not until the end of the month.

<u>4.3.9: PIP COMPARISON 2016 versus 2015 BY MONTH &amp; YEAR TO DATE:</u>

Not until the end of the month.

&nbsp;

<strong>4.4: THE PREMIUM SERVICE - PREFERRED FX BROKER NEWS UPDATES:</strong>

I have had no contact with my brokers this week and therefore there are no updated comments for you to be made aware of.

This week I will be talking with Investors Group, Vantage FX and Hantec Markets. Should any of you have questions / issues you would like me to raise please contact me.

&nbsp;

<strong>4.5: USD MAJOR PAIRS WITH LONGER-TERM MATCHING TRENDS:</strong>

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

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<a href="https://weeklyfxdrivethru.com/ps-trending-pairs-23012016/" rel="attachment wp-att-7168"><img class="aligncenter size-full wp-image-7168" src="https://weeklyfxdrivethru.com/wp-content/uploads/2016/01/PS-TRENDING-PAIRS-23012016.png" alt="PS TRENDING PAIRS 23012016" width="488" height="559" /></a>

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<strong>4.6: LIVE TRADES:

</strong>

<a href="https://weeklyfxdrivethru.com/ps-live-trades-23012016/" rel="attachment wp-att-7167"><img class="aligncenter size-full wp-image-7167" src="https://weeklyfxdrivethru.com/wp-content/uploads/2016/01/PS-LIVE-TRADES-23012016.png" alt="PS LIVE TRADES 23012016" width="699" height="584" /></a>

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<strong>4.7: LIMIT ORDER TRADES:

</strong>

<a href="https://weeklyfxdrivethru.com/ps-limit-orders-23012016/" rel="attachment wp-att-7166"><img class="aligncenter size-full wp-image-7166" src="https://weeklyfxdrivethru.com/wp-content/uploads/2016/01/PS-LIMIT-ORDERS-23012016.png" alt="PS LIMIT ORDERS 23012016" width="685" height="437" /></a>

&nbsp;

<strong> </strong>

<strong>4.8: REVIEW OF OPEN LIMIT ORDER TRADES NOT YET TRIGGERED:</strong>

<u>4.8.1: RADAR LIMIT ORDER TRADES:

</u>RT625 – USD/CHF:
Even though this pair has looked to have broken free of the constraints of 1.0120 on Friday last week, I still believe the set-up is still valid given the FOMC statement due this Wednesday.

<u>4.8.2: FUNDAMENTAL LIMIT ORDER TRADES:
</u>

FUN249 – EUR/GBP:
This trade is now some way from the current market. It is still a valid trade for the future and as such for now I will leave it in position.

<u>4.8.3: PART-TIME TRADER LIMIT ORDER TRADES: </u>

PART001 – EUR/USD:
This trade is still in play given the FOMC policy statement this Wednesday.

PART017 – GBP/CHF:
This trade is now some way from the current market. It is still a valid trade for the future and as such for now I will leave it in position.

PART018 – EUR/GBP:
This trade is now some way from the current market. It is still a valid trade for the future and as such for now I will leave it in position.

<strong> </strong>

<strong>4.9: CHARTS THAT ARE INTERESTING TO ME, THAT COULD BECOME A TRADE SET-UP IN THE NEAR FUTURE:

</strong>

My comments (if any) are included on the charts. There are quite a few this week. I could be very busy Monday and Tuesday with admin placing these potential trades.

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<strong> </strong>
<ol start="5">
	<li><strong> TIME OUT – “AT THE END OF THE DAY”:</strong></li>
</ol>
The Central Banks are in control again this week as they were last week. This time last week it was the BOC and the ECB, this week it’s the FED and the RBNZ both on Wednesday within an hour of each other.

I have written many times in this blog about the markets being both volatile and skittish. For these reasons I would tread carefully.

As traders we really have to be careful trading. Lower position sizes and don’t trade for the sake of trading. We really need to let the trades come to us, rather than chase. Believe me, I know that it is very tempting to chase these currencies at the moment.

There is only one solution in my opinion, trade lean and remain keen – that means trade with smaller positions with wider stops and be alert to moves.

Always remember longevity in Forex trading can only be achieved through trading with good RISK and MONEY MANAGEMENT, and above all set your position sizes in accordance with the size of your account and allow for some flexibility.

Take care,

Scott Pickering
The Pip Accumulator
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