<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: Monday 15<sup>th</sup> September 2014
REF: #88</strong>

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<ol>
	<li><strong> OVERVIEW – INITIAL THOUGHTS:</strong></li>
</ol>
I was expecting fireworks in the cable over the weekend. There were 4 surveys that said NO and one that said YES. Looking at the TV news and the rhetoric used on TV and some great quotes from newsprint over the past few days I think that the Scottish voters are now probably “punch drunk” on the whole matter now. Political overkill is in play.

Whatever, GBP/USD appears to have decided to settle down and just range instead of wild moves. I would still stay away until after the votes are cast, you just do not know what is around the corner politically. David Cameron (UK Prime Minister) is heading north once again today, and given the fact the Scots hate the Tories (Conservatives), I would say that Alex Salmond (The Scottish Nationalist Party Leader) is lapping this up as a desperation move playing right into his hand.

Nice bounces off the lows last night with AUD/USD and NZD/USD. I have entered the AUD/USD short now (FT173). With regards to the NZD/USD, as tweeted last night I took 50% of my position size off the table at 0.8128 and on the subsequent bounce I have added it back at 0.8166.

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<ol start="2">
	<li><strong> KEY NEWS EVENTS TODAY (BASED UPON (NYC) EDT TIME ZONE):</strong></li>
</ol>
AUD: - Monetary Policy Meeting Minutes.

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<ol start="3">
	<li><strong> EXISTING LIVE TRADES:</strong></li>
</ol>
FT172
NZD/USD
Short
Entry at: 0.8180
Stop at: 0.8230
Limit at: 0.7800
Present Price: 0.8164
Current Profit / Loss Position: +16 pips

FT173
AUD/USD
Short
Entry at 0.9022
Stop Loss at 0.9110
Limit at 0.8500
Present Position: 0.9024
Current Profit / Loss Position: -2 pips

RT143
AUD/NZD
Long
Long at 1.1200
Stop at 1.0950
Limit at 1.1550
Present Price: 1.1051
Current Profit / Loss Position: -149 pips
(This trade is now hedged at -125 pips)

FUN14
GBP/NZD
Long
Entry at: 1.9800
Stop at: 1.9000
Limit at: 2.2350
Present Price: 1.9889
Current Profit / Loss Position: +89 pips

<strong> </strong>
<ol start="4">
	<li><strong> LIMIT &amp; STOP ORDERS WITH BROKERS:</strong></li>
</ol>
RT151
USD/JPY
Long at 105.95
Stop at 105.50
Limit at 110.00

<strong> </strong>
<ol start="5">
	<li><strong> FINAL THOUGHTS:</strong></li>
</ol>
I am not expecting too much volatility ahead of the FED on Wednesday. As usual ahead of a major news event I am expecting most currencies to head towards mid-range positions over the next 24-36 hours and the daily movements to calm down.

I have a few set ups in mind on how I intend to trade the FOMC news based upon whether Yellen is going to be dovish as usual or more hawkish as predicted. I will tweet these soon, or to be fair to subscribers who do not use Twitter I will place these ideas in this communication.<strong> </strong>

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<ol start="6">
	<li><strong> DISCLAIMER:</strong></li>
</ol>
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 foreign exchange 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 foreign exchange trading and seek advice from an independent financial advisor if necessary.

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

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