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<ol>
 	<li><strong>INTRODUCTION:</strong></li>
</ol>
You may notice as you digest the blog this week that some long awaited, from my perspective format changes have now been introduced.

Basically, my FREE NEWSLETTER subscribers have sections 1-3 and now a larger PREMIUM SERVICE subscribers only section 4 completes the blog. This new streamlined approach fits better with my schedule and allows me to be more concise.

Outstanding items…

I still need to complete my PREMIUM SERVICE video. Not an excuse but last Thursday I had three hours put to one side for it, but when I first glanced at my screens at 4:30AM it was a sea of RED. No amount of coffee or other stimulant was going to put me in the best of moods for completing a “Mr. Happy” video. It was a 100% warm blue sky day and still warm, my wife and I went out for Lobster instead!!

My apologies, I will get this sorted in the coming week with the link placed in this segment of the blog (I think).

My EA’s (Expert Advisors - Algorithms) that I mentioned last week are STILL outstanding. I had hoped to have progressed these further by now. I feel like I am back in school with this stuff, codes and such like. My partners are being very patient and totally supportive throughout this process.

The big issue is going to be how do I bring these EA’s into the PREMIUM SERVICE. I have still got to work that conundrum out!!

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<ol start="2">
 	<li><strong></strong><strong> THE FX MARKET PLACE:</strong>&nbsp;

<u>2.1: LOOKING BACK AT LAST WEEK’S NEWS.</u></li>
</ol>
In no special order, here is what floated my boat last week.

<u>GBP: RETAIL SALES, BORIS &amp; THERESA MAYS’S SPEECH IN FLORENCE. </u>

Retail sales were a blowout number. I had read a document from the CBI the day before that had indicated strength in sales so I was ready for it.

Boris Johnson is flexing, or rumoured to be. The GBP strengthened about 40-50 pips on the news that he may be resigning.

I digress but I had to laugh, I was on webinar when several Americans chirped up and commented about how poor old Boris was a clown. I only have this to say about clowns …1600 Pennsylvania Avenue, Washington DC.

Moving on…

I remember the Sunday that Boris announced that he was supporting the BREXIT move, he was then the Mayor of London. That was the start of the cable sell off.  Regretfully, I was long GBP/NZD. I remember being on twitter with a couple of traders I respect, discussing the effects of Boris on the cable.

His potential resignation is NOT causing 10% of the shenanigans his BREXIT support move did in the currency market.

The best for last…

Theresa May delivered a politician’s speech in Florence as far as I was concerned. Her previous keynote speech which she did earlier at Lancaster House in London laid out her governments position and basically, I thought she repeated most of that content again. She just stated her position, as is what politicians do. Cable sold off, bounced after the speech and then sold off once again.

The EU negotiating team probably loved it, high on rhetoric low on content specifics, full of waffle and bullshit. Just what Brussels would order every day of the week. In fact, Michel Barnier (Head EU negotiator from Brussels) said soon after Theresa May had finished that he found the speech “To be in a constructive spirit”. Need I say anymore.

May’s position as leader of the Tories and Prime Minister is tenuous to put it mildly; any sane person not a “Dotard” would look at the job of guiding the UK through BREXIT as a poisoned chalice. Therefore, for now I think no one will challenge her.

However, politicians are a strange breed and there are plenty of clowns wanting to be on the worlds stage. You cannot predict with certainty what might happen.

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<u>USD: FOMC RARE DECISION STATEMENT &amp; PRESS CONFERENCE.</u>

WTF... unbelievable … I am probably on my own here with these thoughts so it could be Scott v the World.

For the past God only knows how long, the FED has been data dependent. It has been almost to the point of can’t pee unless the data supports it.

Last Wednesday…

Bollocks to the fecking data. What are they smoking? What are they drinking? Because I want some of that.

The FED believes that two record breaking hurricanes (natural disasters) inside a month hitting two of the biggest economically contributing states in the union both with very, very large areas either under water, or with mass construction damage or both are not going to be producing anything for some time.  Yellen said spending is expanding at a moderate rate, investment is increasing and labour data is strengthened. I don’t get it. All the data I have seen lately doesn’t say that and doesn’t support that view.

Then the cherry on the cake…inflation. What fecking inflation? Oh, yes…transitory. Transitory my arse. The U.S. economy is not in as great shape as we all thought it was going to be.

Janet Yellen “the uber dove” must be on medication as the statement and press conference commentaries were so damn positive.

The FED takes us for a pile of numpties. Ben Bernanke before her and Yellen herself tell us what’s suits them at the time. It’s NOT forward guidance, or anything resembling that. That went months ago. This is about covering one’s arse, nothing more and nothing less.

All one had to do was look at the markets after the knee jerk reaction to strengthen the USD. The following sessions after the Press Conference the DXY consolidated and then in the following US session it sold off again.

Equities reaction in the US to the FED balance sheet tightening from next month and an interest rate hike before the end of 2017 plus 3 more in 2018 was what? To do absolutely nothing.

I was gob smacked by the FX market on Thursday. It did not know what to do. It was clueless, directionless for hours and basically the day was best summed up as being a ‘nonsense, nothing made sense at all”.

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<u>2.2: LOOKING AHEAD TO THIS COMING WEEK:</u><u></u>

2.2.1: THIS WEEK’S ECONOMIC DATA RELEASES:

<a href="https://weeklyfxdrivethru.com/wp-content/uploads/2017/09/ECON-DATA-240917.png"><img class="aligncenter size-large wp-image-10038" src="https://weeklyfxdrivethru.com/wp-content/uploads/2017/09/ECON-DATA-240917-1024x701.png" alt="" width="1024" height="701" /></a>

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<u>2.2.2: USD MAJORS – MY SUPPORT &amp; RESISTANCE LEVELS:</u>

<a href="https://weeklyfxdrivethru.com/wp-content/uploads/2017/09/TCHART-240917.png"><img class="aligncenter size-large wp-image-10039" src="https://weeklyfxdrivethru.com/wp-content/uploads/2017/09/TCHART-240917-1024x852.png" alt="" width="1024" height="852" /></a>

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<u>2.2.3: MY THOUGHTS ON THIS WEEK’S ECONOMIC DATA:</u>

Not a lot this week to choose from. Here are my picks of the upcoming week.

<strong><u>USD:</u></strong>  CONSUMER CONFIDENCE:

The Consumer Confidence numbers always interest me because albeit a backward-looking number it lets you know what is going on in the head of the consumer. Not that the data really matters anymore, it would appear that the FED is raising regardless and economic data is no longer considered.

<strong><u>GBP</u>:  </strong>CURRENT ACCOUNT<strong>:</strong>

With the major banks now ramping up their processes to leave the City of London the importance of trending this data takes on a greater value. It is inevitable that this number will get worse as BREXIT approaches and the BOE will look at this data and perhaps have an “Oh crap” moment questioning their decision to raise rates. Money flows are monitored and measured closely by the BOE.

This could be a surprising market mover.

<strong><u>CAD</u></strong>: GDP:

After mixed inflation data, last week this will be used no doubt as a barometer as to whether the BOC will raise again, or not raise again, before the end of 2017.

Economic data from Canada has been strong and the market is geared up for a hike. A strong number could see an overreaction. Not that we are ever used to seeing the Forex Market overreact!!

<strong><u>NZD</u></strong>:  RBNZ RATE STATEMENT &amp; CASH RATE:

Hot on the heels of election. I would expect more of the same from the last meeting. Nothing new at all.

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<ol start="3">
 	<li><strong> THE PREMIUM SERVICE:</strong></li>
</ol>
The PREMIUM SERVICE is my own subscriber based Forex support service that offers subscribers my suggested trade set-ups and market commentaries.
Full details of the PREMIUM SERVICE and costs to subscribe plus the various trade styles and 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 HISTORY &amp; PERFORMANCE tab.

<u>CURRENT PREMIUM SERVICE PERFORMANCE:</u>
MONTH TO DATE:  +873 net pips
YEAR TO DATE:      +7,529 net pips
Further information can be found by clicking TESTIMONIALS, PART-TIME TRADERS and FX PROMOTIONS tabs on my website  <a href="http://www.weeklyfxdrivethru.com">www.weeklyfxdrivethru.com</a>

To subscribe to THE PREMIUM SERVICE, you will require a valid credit card.
<ol start="4">
 	<li><strong> PREMIUM SERVICE SUBSCRIBERS ONLY:</strong></li>
</ol>
<u>4.1: PREMIUM SERVICE – SUBSCRIBER CONTENT AREA:</u><u>
</u>(Only SUBSCRIBERS to the PREMIUM SERVICE can view this section of the BLOG)

<u>4.1.1: TRADING REVIEW:</u>

Despite stormy weather last week I added +467 pips to the annual target. The monthly total now stands at +873 pips and for the year at 7,529 pips.

This was achieved without trading the FOMC with fresh trades or Theresa May’s Florence speech last Friday. Staying away from these volatile events certainly pays off, because if you jump in too soon without conviction in the market you are screwed. Having said that I was “OUT” for the FOMC meeting for about 40 minutes!

I should say, when I finally got back after the FOMC my charts and brokers were just a sea of RED everywhere. I thought shit. I am positioned the wrong way 100% even the trades that should have been OK were NOT. In a rather bizarre, twisted process I found some degree of comfort knowing that all was not aligned. The next day even with a couple of losing trades counted in I still processed +290 pips. My thoughts on non-alignment and being patient with the markets paid off.

We end the week on #rocketman and #dotard.

I covered trades at the end of the week to reduce RISK and I removed a couple of USD related limit orders. These trades will be placed back this week if the NK tensions die down. God only knows what will happen here moving forward.

Despite adding pips, it is difficult. I am reacting to news rather than technical levels. It is what it is and I know it can be difficult keeping up with me if you are not in the same time zone. However, from my perspective this is the Forex marketplace we trade in and I am up, amending trades making comments on twitter in all time zones and trading sessions.

I will continue to aim at cross-rate pairs moving forward. Whilst these attract a greater risk they are not dominated directly by the USD and I think in the short to medium terms they make sense to focus on. Of course, should geopolitical tensions rise the liquidity in these pairs that is questionable at the best of times can really dry up, so please be patient. The technicals must line up with the fundamentals for me via my TRADE PLAN.

No ARMAGEDDON TRADES yet, but I will continue to add limit orders to CORE TRADES and POSITIONS next week once again, especially some detailed analysis with the EUR and GBP pairs.<u></u>

<u>4.1.2: SENTIMENT,</u><u> FUNDAMENTAL &amp; MACRO THOUGHTS</u><u>:
</u>

The USD sentiment is mixed. This always happens when geopolitical risks are increased. We should also bear in mind that big news, largely unexpected from the FED has also had its effect of the markets. I strongly suspect many traders, even the large institutional traders were caught off guard by Janet Yellen’s comments. I would not be surprised if many of them used Thursday’s reversal to flatten trades and have a re-think over this weekend.

As a retail trader building positions, unless I close off and bank losses I do not have the same luxury as bankers not playing with their own $$$. I must believe in my FUNDAMENTAL thoughts and views and plough on.

I would not rule out a USD (DXY) bounce higher just to take out USD longs from the market and re-calibrate matters. The market is extremely efficient at times at cleaning up the balance. I am NOT expecting a run higher than the 93.00 level in the DXY then I expect a return in the trend lower again towards c.87.50.

This is the foundation of my trading thoughts, short-term plans moving forward. I do not expect the USD spike higher to last longer than a week or so, that is of course should it happen. We may just roll-over.

The geopolitical news is making a lot of people twitchy. The USD is no longer the flight to safety that it used to be. GOLD, JPY &amp; CHF are the go to plays now in my opinion.

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</u><u><a href="https://weeklyfxdrivethru.com/wp-content/uploads/2017/09/MARKET-SENTIMENT-240917.png"><img class="aligncenter size-large wp-image-10040" src="https://weeklyfxdrivethru.com/wp-content/uploads/2017/09/MARKET-SENTIMENT-240917-778x1024.png" alt="" width="778" height="1024" /></a></u>

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<u>4.1.3: USD - SUPPORT &amp; RESISTANCE LEVELS: </u>

<a href="https://weeklyfxdrivethru.com/wp-content/uploads/2017/09/TCHART-240917.png"><img class="aligncenter size-large wp-image-10039" src="https://weeklyfxdrivethru.com/wp-content/uploads/2017/09/TCHART-240917-1024x852.png" alt="" width="1024" height="852" /></a>

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<u>4.1.4: USD – TRADING CHARTS and COMMENTARIES: </u>

The charts below contain commentary (my thoughts and views), these are the USD major charts that are reflected in the spreadsheet above.

Please note that now that these charts are PREMIUM SERVICE subscriber only, I am now able to have them focused to existing trades and limit orders as well as future intentions.
<strong>
</strong>EUR/USD:

<a href="https://weeklyfxdrivethru.com/wp-content/uploads/2017/09/EURUSD-D-24092017.png"><img class="aligncenter size-large wp-image-10050" src="https://weeklyfxdrivethru.com/wp-content/uploads/2017/09/EURUSD-D-24092017-1024x511.png" alt="" width="1024" height="511" /></a>

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GBP/USD:

<a href="https://weeklyfxdrivethru.com/wp-content/uploads/2017/09/GBPUSD-W-24092017.png"><img class="aligncenter size-large wp-image-10051" src="https://weeklyfxdrivethru.com/wp-content/uploads/2017/09/GBPUSD-W-24092017-1024x511.png" alt="" width="1024" height="511" /></a>

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AUD/USD:

<a href="https://weeklyfxdrivethru.com/wp-content/uploads/2017/09/AUDUSD-D-24092017.png"><img class="aligncenter size-large wp-image-10049" src="https://weeklyfxdrivethru.com/wp-content/uploads/2017/09/AUDUSD-D-24092017-1024x511.png" alt="" width="1024" height="511" /></a>

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NZD/USD:

<a href="https://weeklyfxdrivethru.com/wp-content/uploads/2017/09/NZDUSD-D-24092017.png"><img class="aligncenter size-large wp-image-10052" src="https://weeklyfxdrivethru.com/wp-content/uploads/2017/09/NZDUSD-D-24092017-1024x511.png" alt="" width="1024" height="511" /></a>

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USD/CAD:

<a href="https://weeklyfxdrivethru.com/wp-content/uploads/2017/09/USDCAD-D-24092017.png"><img class="aligncenter size-large wp-image-10053" src="https://weeklyfxdrivethru.com/wp-content/uploads/2017/09/USDCAD-D-24092017-1024x511.png" alt="" width="1024" height="511" /></a>

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USD/CHF:

<a href="https://weeklyfxdrivethru.com/wp-content/uploads/2017/09/USDCHF-D-24092017.png"><img class="aligncenter size-large wp-image-10054" src="https://weeklyfxdrivethru.com/wp-content/uploads/2017/09/USDCHF-D-24092017-1024x511.png" alt="" width="1024" height="511" /></a>

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USD/JPY:

<u><a href="https://weeklyfxdrivethru.com/wp-content/uploads/2017/09/USDJPY-D-24092017.png"><img class="aligncenter size-large wp-image-10055" src="https://weeklyfxdrivethru.com/wp-content/uploads/2017/09/USDJPY-D-24092017-1024x511.png" alt="" width="1024" height="511" /></a></u>

<u>4.1.5: EXISTING CORE TRADES (PLANS &amp; STRATEGIES):</u>

Basically, I am bearish the CAD and NZD and the two currencies are dominating my thoughts, trades and limit orders at the moment.

<strong><u>THE CAD:</u></strong>

Currently, I am live the following: -

USD/CAD

Plus: - I have SELL STOP limit orders and standard limit orders in position for the USD/CAD.

I covered and closed open positions on Friday last week to reduce RISK given the North Korea geopolitical circumstances.

MY PLAN: Is to add more USD/CAD trades this coming week and add back those trades that I removed at the end of last week. Plus, now that the German and New Zealand elections will be decided I can take a longer-term view on NZD/CAD and EUR/CAD once again.

<strong><u>THE NZD</u></strong>:

Currently I have multiple live long AUD/NZD trades.

Plus: - One more long AUD/NZD limit order trade.

MY PLAN: I am going to add exposure this week following the election. Looking at NZD/USD, EUR/NZD, GBP/NZD, NZD/JPY, NZD/CHF and NZD/CAD charts.

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<u>4.1.6: CURRENT LIVE TRADES &amp; LIMIT ORDERS:</u>

<u>
</u>CURRENT LIVE TRADES:
<a href="https://weeklyfxdrivethru.com/wp-content/uploads/2017/09/LIVE-ORDERS-240917.png"><img class="aligncenter size-large wp-image-10042" src="https://weeklyfxdrivethru.com/wp-content/uploads/2017/09/LIVE-ORDERS-240917-839x1024.png" alt="" width="839" height="1024" /></a>

CURRENT LIMIT ORDER TRADES:

<a href="https://weeklyfxdrivethru.com/wp-content/uploads/2017/09/LIMIT-ORDERS-240917.png"><img class="aligncenter size-large wp-image-10041" src="https://weeklyfxdrivethru.com/wp-content/uploads/2017/09/LIMIT-ORDERS-240917-800x1024.png" alt="" width="800" height="1024" /></a>

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<u>4.1.7: FX BROKER NEWS with their MARKET FEEDBACK:</u>

I have spoken with several brokers this past week. They are all fearful of a deteriorating North Korean situation but also a little surprising to me they were all ramping up, or considering ramping up margin requirements due to the German elections.

Although unclear on numbers by percentage, of the four I spoke with and have known for several years retail clients are down. The account bonus offers are finally being seen for what they are, which in my humble opinion is a con. They are desperately seeking another attractive offer to lure in fresh meat!

The concept of no slippage, low rate spreads, effective people on chat and quick email turnarounds will eventually hit home and the penny will drop when they realise they can create market differentiation and grow their client base even in a declining market without having to look to acquisition to achieve it.

So basically, I learned nothing. No ground-breaking earth shattering developments… yet!

<strong> </strong>
<ol start="5">
 	<li><strong> CLOSING THOUGHTS &amp; IDEAS:</strong></li>
</ol>
<u>5.1: WANT A FREE PREMIUM SERVICE SUBSCRIPTION:</u>

If you like what you have read in this blog and would like the chance to win a FREE SUBSCRIPTION valued at CAD$150.00, all you should do is subscribe to my FREE NEWSLETTER (this blog), by adding your email address on my welcome page just below my cube logo at <a href="http://www.weeklyfxdrivethru.com">www.weeklyfxdrivethru.com</a>

<u>5.2: PREMIUM SERVICE SUBSCRIPTIONS:</u>

Should you want to go a stage further and subscribe to the PREMIUM SERVICE. This can be done on my website <a href="http://www.weeklyfxdrivethru.com">www.weeklyfxdrivethru.com</a> under the Tab SUBSCRIBE HERE.

Subscribing to the PREMIUM SERVICE is not just about receiving a larger “DRIVE THRU” blog packed with more trading supporting information, my thoughts and ideas. There is much more to a subscription that those things. Check it all out under the tab HISTORY &amp; PERFORMANCE on my website <a href="http://www.weeklyfxdrivethru.com">www.weeklyfxdrivethru.com</a>

From time to time I offer subscription promotions. These can be viewed under the tab FX PROMOTIONS at <a href="http://www.weeklyfxdrivethru.com">www.weeklyfxdrivethru.com</a>

NOTE: There is a promotion in place right now!

I show below an interesting excel spreadsheet based around my PREMIUM SERVICE monthly subscription option of CAD$150.00 per month. I hope that you find this interesting.

<a href="https://weeklyfxdrivethru.com/wp-content/uploads/2017/09/CAD150-SUBSCRIPTION-240917.png"><img class="aligncenter size-large wp-image-10037" src="https://weeklyfxdrivethru.com/wp-content/uploads/2017/09/CAD150-SUBSCRIPTION-240917-912x1024.png" alt="" width="912" height="1024" /></a>

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5.3: THE FINISHING LINE:

Nothing more to add here, I have said enough except,

As usual…

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.

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Scott Pickering
The Pip Accumulator
Twitter: @pipaccumulator

<a href="http://weeklyfxdrivethru.com/disclaimer/">http://weeklyfxdrivethru.com/disclaimer/</a>

BLOG VERSION: #148 PREMIUM SERVICE
24th September 2017

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