<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>

&nbsp;

<strong>DATE: Wednesday 12th November 2014
REF: #124</strong>

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<ol>
	<li><span style="font-size: 12pt;"><strong> OVERVIEW – INITIAL THOUGHTS:</strong></span></li>
</ol>
I have found out that my primary ISP is working just outside my location on line upgrades. This is the reason I have had basically and in and out Internet service for the past few weeks. The reason that I could not pin point the issue until now was because they are not working on my area 24x7. At least now I know why things sit and do not move for a minute or two sometimes.

We are range bound across most pairs. There is nothing wrong with range trading but some of the volatility within the ranges and the chop that I am seeing is making it very difficult at times. In particular, the moves in the JPY pairs are creating wild swings with the USD and commodity currencies are suffering with moves that upon initial examination are weird to look at. I went to bed last night looking at a lot of green on my charts and summaries and woke up early for the GBP news events at 0430 and 0530 EDT only to see seas of red.

This morning; I took quick profits on the EUR/USD (FT208) and USD/CHF (FT209) when they were available and since taking the trades off the table these pairs have pulled back once again.

Until we sort out what is happening with the USD (DXY), I think we are just going to chop. The USD (DXY) tested a 30 year trend line to the upside last week and was beaten back. I think that until we see USD bulls in control with regards to FX the chop continues and we consolidate.

Trades will therefore be FLASH TRADES (“Smash and Grab”) until further notice unless something monumental drops on my desk that is too good to miss.

These will be similar to the GBP/USD (FT238) trade from earlier. I entered this trade for quick 25 pips took it and left. I know that two of you stayed the course. I entered at 1.5885 to exit at 1.5860 (+25 pips). I took the 25 and ran. It is now sub 1.5820. Good luck to those still trading this pair, manage your stops take some profits off the table as we approach 1.5810.

Looking around, the DOW, S&amp;P and NASDAQ futures are all lower. Oil and Gold are lower, but copper is up. European Bourses (FTSE, DAX and CAC) are all down as well.

I am away from my desk for a meeting in Montreal this morning, so I will stay light today on trades.

I think that the USD strength will return and my overall PLAN A is till a green for go, but for now I will sideline myself apart from the existing LIVE trades.

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<ol start="2">
	<li><span style="font-size: 12pt;"><strong> KEY NEWS EVENTS NEXT 24 hours (BASED UPON (NYC) EDT TIME:</strong></span></li>
</ol>
CNY: - Industrial Production.

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

RT211
AUD/USD
Short at 0.8700
Stop at 0.8780
Limit at 0.8000
Price now 0.8715
Current Profit / Loss Position -15 pips

RT212
USD/JPY
Long at 115.50
Stop Loss at: 114.85
Limit at: 120.00
Price Now: 115.34
Current Profit / Loss Position -16 pips

<strong>FLASH TRADES:</strong>

FT230
EUR/CHF
Long at 1.2040
Stop at 1.1920
Limit at 1.2500
Price now 1.2025
Current Profit / Loss Position -15 pips

<strong>FUNDAMENTAL TRADES:</strong>

FUN66
GBP/AUD
Long at 1.8520
Stop at 1.8150
Limit at 1.9200
Price now 1.8164
Current Profit / Loss Position -356 pips
(This trade is hedged from -100 pips)

<strong> </strong><strong> </strong>
<ol start="4">
	<li><span style="font-size: 12pt;"><strong> LIMIT &amp; STOP ORDERS WITH BROKERS:</strong></span></li>
</ol>
I have no trades lodged with my brokers at this time.

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Good luck today.

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.