<strong></strong>

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

</strong>

<strong>DATE: Tuesday 23rd September 2014
REF: #94</strong>

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<ol>
	<li><strong> OVERVIEW – INITIAL THOUGHTS:</strong></li>
</ol>
A brilliant examination of my live trades with one of my brokers last night to move stops resulted in me closing all positions. There are times that you want that button and times that you don't.

I have re-entered most of the trades again at mostly higher levels and that isn’t a bad thing. As I said to Brenda last week, as a trader one should never complain if you are banking $$$ irrespective of how or why, and, so therefore, whilst initially annoyed fresh opportunities have been presented.

Geopolitical news events are at the top of the agenda at the moment, U.S. led military air strikes inside Syria taking the news lead and weighing on sentiment. Major bourses are lower on this news and the USD has taken a step back and is consolidating.

The USD consolidation allows traders who were not currently long the USD to establish trade ideas if not direct entries into the market.

GOLD, OIL and COPPER are all higher albeit slightly in most cases this morning and this would be a consistent with the USD index moving a little lower and the EUR/USD moving towards 1.2900.

The bigger picture that occupies my mind at the moment is U.S. equities. Have they seen their top for 2014 following the Alibaba IPO? I want to get geared up, as I believe that this is the case. But at the same time not too aggressive. My trade sizes are relatively small and I am planning to add at specific points. As I say….”I HAVE MY PLAN &amp; I WILL TRADE MY PLAN”.

Let me elaborate on one trade to give you the flavour.

<strong>EUR/USD:</strong> – stopped at 1.2820. There is a double bottom and the range measured move is a bounce to about maximum 1.2925-30. It may NOT get there but I want to be short. I took a short trade at 1.2892 and I will add if the pair gets to 1.2925. It is my plan to do so should this happen. We are ranging today for consolidation but the trend in bearish.

Does this make sense?

<strong> </strong>
<ol start="2">
	<li><strong> KEY NEWS EVENTS TODAY (BASED UPON (NYC) EDT TIME ZONE):</strong></li>
</ol>
&nbsp;

CAD: - Core Retail Sales.
NZD: - Trade Balance.

EUR: - German IFO Business Climate

<strong> </strong><strong> </strong>
<ol start="3">
	<li><strong> EXISTING LIVE TRADES:</strong></li>
</ol>
<strong>RADAR TRADES:</strong>

RT143
AUD/NZD
Long
Long at 1.1200
Stop at 1.0800
Limit at 1.1550
Present Price: 1.0968
Current Profit / Loss Position: -232 pips.
(This pair is hedged from -125 pips)

RT160
GBP/USD
Short from 1.6350
Stop at 1.6450 (Note: STOP HAS BEEN MOVED)
Limit 1.6000
Present Position: 1.6410
Current Profit / Loss Position: -60 pips.

RT161
USD/JPY
LONG
Long at 108.60
Stop at 108.00
Limit: 110.60
Present Position: 108.46
Current Profit / Loss Position: -14 pips.

RT162
USD/NOK
Long at 6.3320
Stop at 6.2900
Limit: 6.4550
Present Position: 6.3218
Current Profit / Loss Position: -102 pips.

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<strong>FLASH TRADES:</strong>

FT185
AUD/USD
Short
Short at 0.8888
Stop Loss at 0.8950
Limit at 0.8500
Present Position: 0.8906
Current Profit / Loss Position: -18 pips

FT186
NZD/USD
Short
Short at 0.8125
Stop Loss at 0.8250
Limit at 0.7500
Present Position: 0.8121
Current Profit / Loss Position: +4 pips

FT187
EUR/USD
Short
Short at 1.2892
Stop Loss at 1.2950
Limit at 1.2650
Present Position: 1.2897
Current Profit / Loss Position: -5 pips.

&nbsp;

<strong>FUNDAMENTAL TRADES:</strong>

None LIVE at this time.

<strong> </strong>
<ol start="4">
	<li><strong> LIMIT &amp; STOP ORDERS WITH BROKERS:</strong></li>
</ol>
<strong> </strong>

RT163
USD/SEK
Long at 7.1000
Stop at 7.0500
Limit: 7.3600

RT164
USD/CAD
Long at 1.0980
Stop at 1.0870
Limit 1.1250

RT165
USD/CHF
Long at 0.9335
Stop at 0.9285
Limit at 0.958<strong> </strong>

<strong> </strong>
<ol start="5">
	<li><strong> FINAL THOUGHTS:</strong><strong> </strong></li>
</ol>
I think it will be slow maybe a consolidating day but be prepared we could see some big moves in particular if U.S. equities start to pull back.

Be careful there is a lot of GEOPOLITICAL news hanging around. It should be good for volatility if we enter trades the right way!!

&nbsp;

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.

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