(3347,1,'2014-03-22 07:03:07','2014-03-22 12:03:07','<p style=\"text-align: left;\" align=\"center\"><b><span style=\"text-decoration: underline;\">1. INTRODUCTION:</span></b></p>\r\nTwo weeks on…a completed trip to Dublin for St Patrick’s Day….copious amounts of Guinness consumed and back to more of the same as it was before I left. Now, I really do not mean to complain, or sound negative; but I am finding this market very challenging. It is what it is, but, give me a break.\r\n\r\nI am above water for this month but it has been a challenge. I re-iterate what I have said before in tweets and recent blogs; if you are a new trader it is not always like this and if you can survive this you can survive anything. The market is not forgiving and just when you think that you have it, it turns on you. It is not normal. If you read the last two or three blogs that I have written I have posted ways to help you survive.\r\n\r\nMoving on...\r\n\r\nJanet Yellen left her mark on the week and the markets took her seriously for 24 hours and then reverted to the WTF, buy on dips mode once again.\r\n\r\nThe Ukraine, which was very serious, has turned into a fiasco in my opinion and it now replicates the scene from the Monty Python movie “The Life of Brian” when “Reg” the leader of the Judean People’s Popular Front decides to take immediate action. In his language that meant lets form a head committee and a sub committee to work on options. Meanwhile it all goes on before his eyes and it’s too little too late. The ECB and Obama have modeled their administrations on “Reg”. Yer man, Putin, is just not playing by the rules…yeah right. The markets appear completely not interested anymore so off we go again pressing higher. Fundamentals count…my a** they don’t.\r\n\r\nThe USD did not die…come back Lazarus. The EUR/USD break to 1.3967 was a false breakout. Maybe tapering will have an effect? In any event false breakouts usually mean the turn back is much stronger. Watch this space.\r\n\r\nOther big news for me is that I have now reached my target subscriber numbers to the PREMIUM SERVICE. As this is NOT about the $$$, I have revised my prices, introduced a “TRY IT &amp; SEE” option for 4 weeks for $20.00. All existing members now known as my “CORE” have had their final subscription dates extended and then some more!\r\n\r\nI am delighted with the impact and the fact that subscribers are worldwide. Soon I will deliver a “DAILY POST” for subscribers to the PREMIUM SERVICE direct to the website daily prior to 9.00am EDT. This will be in addition to the protected “Twitter” feed. The DAILY POST will be trade-set ups only with little supporting information and will vary in size depending upon what interest’s me.\r\nI have a full section later on the PREMIUM SERVICE updates and the web site will be able to accept the new and revised subscriptions from Tuesday morning (hopefully!!) the 25<sup>th</sup> March 2014.\r\n\r\n<b><span style=\"text-decoration: underline;\">2. TRADING SUMMARY:</span></b>\r\n<p align=\"center\"><b><span style=\"text-decoration: underline;\">RADAR, FLASH and FUNDAMENTAL TRADES\r\n</span></b><b><span style=\"text-decoration: underline;\">MARCH 2014 and YEAR to date:</span></b></p>\r\nBelow I show the up to date performances for my various trading styles. Full excel spreadsheets are in the subscriber area of the PREMIUM SERVICE.\r\n<p style=\"text-align: center;\"><b><span style=\"text-decoration: underline;\">RADAR TRADES – MARCH 2014:</span></b></p>\r\n<p align=\"center\"><b><span style=\"text-decoration: underline;\">PROFITS FROM SINGLE LOT COMPLETED RADAR TRADES:</span></b></p>\r\n<p style=\"text-align: center;\"> 1 x MICRO-LOT:\r\n5 trades at $0.10 cents each = $0.50 risk for $8.90 loss.</p>\r\n<p align=\"center\">1 x MINI-LOT:\r\n5 trades at $1.00 each = $5.00 risk for $89.00 loss.</p>\r\n<p align=\"center\"><span style=\"line-height: 1.5em;\">1 x STANDARD LOT:\r\n</span><span style=\"line-height: 1.5em;\">5 trades at $10.00 each = $50.00 risk for $890.00.</span></p>\r\n<p style=\"text-align: center;\"><b></b><b style=\"line-height: 1.5em;\"><span style=\"text-decoration: underline;\">FLASH TRADES – MARCH 2014:\r\n</span></b><b><span style=\"text-decoration: underline;\">PROFITS FROM SINGLE LOT COMPLETED FLASH TRADES:</span></b></p>\r\n<p style=\"text-align: center;\" align=\"center\">1 x MICRO-LOT:\r\n14 trades at $0.10 cents each = $1.40 cents risk for $44.10 profit.</p>\r\n<p align=\"center\">1 x MINI-LOT:\r\n14 trades at $1.00 each = $14.00 risk for $441.00 profit.</p>\r\n<p align=\"center\">1 x STANDARD LOT:\r\n14 trades at $10.00 each = $140.00 risk for $4,410.00 profit.</p>\r\n<p align=\"center\"><b><span style=\"text-decoration: underline;\"> </span></b><b style=\"line-height: 1.5em;\"><span style=\"text-decoration: underline;\">FUNDAMENTAL TRADES – MARCH 2014:\r\n</span></b><b style=\"line-height: 1.5em;\"><span style=\"text-decoration: underline;\">PROFITS FROM SINGLE LOT COMPLETED FUNDAMENTAL TRADES</span></b></p>\r\n<p style=\"text-align: center;\">1 x MICRO-LOT:\r\n0 trades at $0.10 cents each = $0.00 cents risk for $0.00 profit</p>\r\n<p align=\"center\">1 x MINI-LOT:\r\n0 trades at $1.00 each = $0.00 risk for $0.00 profit.</p>\r\n<p align=\"center\"> 1 x STANDARD LOT:\r\n0 trades at $10.00 each = $0.00 risk for $0.00 profit</p>\r\n<p align=\"center\"><b><span style=\"text-decoration: underline;\">COMBINED FLASH, RADAR AND FUNDAMENTAL TRADES PROFIT PERFORMANCE\r\n</span></b><b><span style=\"text-decoration: underline;\">MARCH 2014…SO FAR:</span></b></p>\r\n<p align=\"center\">TRADING MICRO-LOTS:\r\n19 trades at $0.10 cents each = $1.90 risk for $35.20 profit.</p>\r\n<p align=\"center\">TRADING MINI-LOTS:\r\n19 trades at $1.00 each = $19.00 risk for $352.00 profit.</p>\r\n<p align=\"center\">TRADING STANDARD LOTS:\r\n19 trades at $10.00 each = $190.00 risk for $3,520.00 profit.</p>\r\n<p align=\"center\"><b><span style=\"text-decoration: underline;\">COMBINED FLASH, RADAR AND FUNDAMENTAL TRADES PROFIT PERFORMANCE\r\n</span></b><b><span style=\"text-decoration: underline;\">TOTAL 2014…SO FAR:</span></b></p>\r\n<p align=\"center\">TRADING MICRO-LOTS:\r\n128 trades at $0.10 cents each = $12.80 risk for $213.50 profit.</p>\r\n<p align=\"center\">TRADING MINI-LOTS:\r\n128 trades at $1.00 each = $128.00 risk for $2,135.00 profit.</p>\r\n<p align=\"center\">TRADING STANDARD LOTS:\r\n128 trades at $10.00 each = $1,280.00 risk for $21,350.00 profit.</p>\r\nThe above examples are for illustration purposes only:\r\n\r\nThe profitability examples detailed above are based solely upon single lot trading, regardless of lot type. If multiple lot sizes are traded the profitability margins will be different than those shown.\r\n\r\nJust to provide more information so you understand where I am coming from with the risk / reward statements above. All of my trades are of different sizes and different size lot types. The above does not reflect the actual trading performance. I like to add to trades, profits are taken as the trade progresses and my overall cost average moves several times. All of my trades are of different lot styles. I trade a mixture of micro lots, mini lots and standard lots across my brokers.\r\n\r\nThe above results simply display your profit or loss if you placed a single lot trade on all the set-ups suggested and did nothing else.\r\n\r\n&nbsp;\r\n\r\n<b><span style=\"text-decoration: underline;\">3. THE FUNDAMENTAL TRADERS OVERVIEW:</span></b><b style=\"line-height: 1.5em;\"> </b>\r\n<p align=\"center\"><b>SANCTIONS MY A** - IT’S TOO LITTLE TOO LATE AND PUTIN IS WELL IN CONTROL.\r\n</b><b>HOW DO WE TRADE THIS?</b><b style=\"line-height: 1.5em;\"> </b></p>\r\nSo before my trip to Dublin, the Ukraine issues were front and centre, sanctions were being talked about in Washington and Brussels.\r\n\r\nI am not going to write a long piece about the Crimea and its importance to Moscow militarily for it’s fleet of navel ships, being that it contains a very deep- water port. Common sense in the west would have realized that this would NOT be handed over to a regime influenced by NATO. Hence I think, we have been playing a game, because lets get serious, these sanctions are a joke. The tit for tat approach between Moscow and Washington on banning individuals from entry to countries, is complete and utter boll***s.\r\n\r\nThe French, (who are always good for a laugh on Foreign Policy), telling Putin that they may not ship two warships to Russia because of the escalating Crimea situation. Jesus, if I were Putin I’d cancel the f*cking deal, he doesn’t need the ships anyway and that would hurt France more. Then there’s the French arguing with the UK over Russian “Oligarchs” in London living in substantial properties and their children being educated in UK private schools.\r\n\r\nFor God’s sake all Putin has to do is cut off the gas supply to Germany and that’s it.\r\n<p style=\"text-align: center;\"><em>Putin has all the aces in his hand.</em></p>\r\n<p style=\"text-align: center;\"><em>The sanctions in place, do they help the Ukraine – NO.</em></p>\r\n<p style=\"text-align: center;\"><em>Are these bluffs from Obama and Hollande and the EU easily seen – YES.</em></p>\r\n<p style=\"text-align: center;\"><em>Would more sanctions on trade help? – NO.</em></p>\r\nAll of the sanctions that have been causing unrest in the area so far have achieved little or nothing, in fact all they have done is massage the ego’s of a few numpty politicians….all this for ego’s!\r\n\r\nCommon sense has to prevail soon. The west knows that Putin <b>could not and</b> <b>would NOT</b> give up his naval bases. It would be suicide from his perspective. I am not saying that I agree with how this has happened but that is the high level view.\r\n\r\nI hate to write this but I think the common sense in this situation will come from Angela Merkel as the Germans are so reliant on the pipeline of natural gas pumping. Putin knows this and that is why he is sitting in Moscow playing the organ grinder, while, the monkey’s dance around.\r\n\r\nLets face facts, before the west could get up off it\'s a** and sort out what they were going to do, Putin organized a referendum (of sorts) had a vote, had it counted and had the paperwork signed in Moscow taking control of the Crimea. In that time the EZ were still debating Brie or Camembert for the cheese and Sauvignon Blanc or Chablis for the white and Pinot Noir or Bordeaux for the red. They were also waiting on the EZ can provider to come up with a can for kicking!\r\n\r\nGive me a break. The west’s response was muted because they knew what was at stake for Moscow but they never actually could politically say we have to let the Crimea pass title.\r\n\r\nMoving on to the trading aspect.\r\n\r\nIf Putin has designs on other parts of the Ukraine I do think that the story will unfold a little differently gas or no gas supply to the EZ.\r\n\r\nThe EUR/USD is trading very heavily and whilst it is in the range of 1.3720 to 1.3970, I would apply caution. It is a 270 pip trading range, whilst I think we had a false breakout to the highs we have NOT sold off the way that I would have thought given the fact we had a false breakout.\r\n\r\nMy trading ideas for the EUR/USD would be sell into strengths and buy on dips within mini ranges inside the 270 pip overall range. For example 1.3775 to 1.3808 is a range within the range. Its only 33 pips, but it pretty well contained the EUR/USD yesterday (Friday).\r\n\r\nThe EUR/USD is waiting for news to move it. I suggest not trading it until you get a momentum trade going.\r\n\r\nLook at other pairs preferably non USD related as USD traded pairs would be affected by Ukraine news:\r\n\r\nEUR/GBP\r\nAUD/JPY\r\n\r\nThese are two pairs that spring to mind. In any event do not get “gun-ho” with trading big lot/position sizes as you will get shot down unless you are very lucky. Volatility is ahead because I fear that the Ukraine news is far from over.\r\n\r\n&nbsp;\r\n\r\n<b><span style=\"text-decoration: underline;\">4. TRADER TOPICS:</span></b>\r\n<p align=\"center\"><span style=\"font-size: 14px;\"><b><span style=\"text-decoration: underline;\">MANAGING RISK:</span></b></span></p>\r\nI write a lot in the blogs and on twitter about MONEY / RISK MANAGEMENT and using proper MONEY MANAGEMENT and ACCOUNT MANAGEMENT controls.\r\n\r\nThe amount as a rough rule of thumb to predetermine the maximum percentage of total account equity that one is prepared to risk per trade is between 0.5% and 1.0%\r\n\r\nThis discipline has two big benefits:\r\n\r\nFirstly, it prevents “heavy / big losses” occurring from any single trade since the size of each position would be adjusted to fit within the maximum % risk of total equity that you have listed in your TRADING PLAN.\r\n\r\nSecondly, this discipline prevents continued “heavy / big losses” during a continued streak of loss making trades. This can happen and it is awful to experience, but if you trade consistently with discipline you prevent your account suffering huge losses that can wipe out your account very quickly.\r\n\r\nFrom your TRADING PLAN, you will already have your risk in pips calculated and your entry and stop and lot size calculated.\r\n\r\nTRADE EXAMPLE: -\r\n<ol>\r\n	<li>Let’s assume for the purpose of an example that you have already decided in your trade plan that your risk tolerance is 1% of total equity per trade placed. Your account has a balance of $10,000.00.</li>\r\n	<li>This means that your risk = $100.00.The trade in question that you are considering requires at 47pip stop loss to meet the pivot points or Fibonacci levels. That will offer support to the trade and in accordance with you TRADING PLAN these are your trading parameters.</li>\r\n	<li>Trading Standard lots = 47pips x $10.00 = $470.00 – this trade is not possible within your TRADING PLAN guidelines.</li>\r\n	<li>What do you do next? The great flexibility for Forex trading is that you can adjust your trade size to fit the risk. There are three values to the three lot sizes available.\r\n<span style=\"line-height: 1.5em;\">Standard Lots at $10.00 each\r\n</span><span style=\"line-height: 1.5em;\">Mini Lots at $1.00 each\r\n</span><span style=\"line-height: 1.5em;\">Micro Lots at $0.10 cents each\r\n</span></li>\r\n	<li>Instead of approaching this trade with Standard lots, look at the lot size lower. Trading Mini lots at a value of $1.00 each gives you the following opportunity: ($100 / 47 = 2.12 lots maximum to meet your risk tolerance of $200 for this trade example)</li>\r\n</ol>\r\nTherefore if you take this trade with 2 x Mini lots your maximum risk based on a 47 pip stop is 2 x 47 =  $94.00 (under the 2% / $100 risk tolerance as per your TRADING PLAN).\r\n\r\n<b>(In the coming weeks in the PREMIUM SERVICE blog…this example will be expanded, as I will write about the benefits of a multi broker approach to trading)</b>\r\n\r\nThe decision whether to enter a trade becomes a simple question of the risk-to-reward ratio. As I have written many times, before I enter a trade I know what my risk is first before I even place the trade with my broker.\r\n\r\nMany traders will write a “winning percentage”, I hate the terms winning and losing. Trading is not similar to being in Las Vegas. You are a RISK ASSESSOR, you have loss making trades and you have profitable trades, it is NOT gambling like sitting at a roulette table in Las Vegas.\r\n\r\nNow, please do not misunderstand me, your percentage of profitable trades is important to know, but it is NOT an indicator of how good your trading strategy is. Strategy defines success, and success equals $$$$. Using percentages to define success or failure in trading can make you focus on recent trades only. You could lose sight of the big picture, and this could lead to overconfidence and deviation from your TRADING PLAN and, the strict discipline guidelines and this could lead to “revenge” or “desperation” trades.\r\n\r\nLonger-term traders can run the risk of developing the rather destructive habit of wanting to be right rather than being successful. To this end, many traders will take profits off the table early to be right and achieve a profitable trade rather than letting a profitable trade run. This habit can also lead to letting loss-making trades run too far away, you move stops and break your TRADING PLAN guidelines for trading.\r\n\r\nIn my book, there is only one way to truly measure trading success and that sustained profitability.\r\n\r\nThis is why having a TRADING PLAN detailing a RISK AND ACCOUNT MANAGEMENT plan with discipline is an absolute essential part of any successful trading strategy, without one, in my opinion sustained profitability is virtually impossible.\r\n\r\n<b> </b>\r\n\r\n<b><span style=\"text-decoration: underline;\">5. MY CURRENT LIVE TRADES:</span></b>\r\n\r\n<b><span style=\"text-decoration: underline;\">FLASH TRADES:</span></b>\r\n\r\nFT37\r\nEUR/AUD (This trade is hedged from -150 pips)\r\nLong\r\nCost Average: 1.5419\r\nStop Loss: 1.4900\r\nLimit / Target: 1.7400\r\nMy Position Size: 7.50%\r\nClosing Weekly Position: 1.5183\r\n<span style=\"line-height: 1.5em;\">My present Profit / Loss position: - 236 pips</span>\r\n\r\nFT61\r\nUSD/CAD\r\nLong\r\nCost Average: 1.1215\r\nStop Loss: 1.1160\r\nLimit/Target: 1.1600\r\nMy Position Size: 20%\r\nClosing Weekly Position: 1.1220\r\nMy Present Profit / Loss Position: + 8 pips\r\n\r\nFT63\r\nGBP/USD\r\nShort\r\nCost Average: 1.6500\r\nStop Loss: 1.6570\r\nLimit/Target: 1.6350\r\nMy Position Size: 20%\r\nClosing Weekly Position: 1.6485\r\nMy Present Profit / Loss Position: +15 pips<b></b>\r\n\r\n<b><span style=\"text-decoration: underline;\"> </span></b>\r\n\r\n<b><span style=\"text-decoration: underline;\">RADAR TRADES:</span></b>\r\n\r\nI have no LIVE RADAR trades at the moment.\r\n\r\n&nbsp;\r\n\r\n<b><span style=\"text-decoration: underline;\">FUNDAMENTAL TRADES:</span></b>\r\n\r\nI am still keeping these trades as my losses are hedged and are net not increasing. It is just the overnight swap rates that will cause me an issue soon if these pairs do not reverse direction.\r\n\r\nFUN13 (This trade is hedged from -150 pips)\r\nEUR/NZD\r\nLong\r\nCost Average: 1.6450\r\nStop Loss: 1.6000\r\nLimit / Target: 1.9000\r\nMy Position Size: 7.5%\r\nClosing Weekly Position: 1.6151\r\n<span style=\"line-height: 1.5em;\">My present Profit/Loss position: -299</span>\r\n\r\nFUN14 (This trade is hedged from -150 pips)\r\nGBP/NZD\r\nLong\r\nCost Average: 1.9950\r\nStop Loss: 1.9000\r\nLimit / Target: 2.2350\r\nMy Position Size: 7.5%\r\nClosing Weekly Position: 1.9305\r\n<span style=\"line-height: 1.5em;\">My present Profit/Loss position: -645 pips</span>\r\n\r\n&nbsp;\r\n\r\n<b><span style=\"text-decoration: underline;\">6. TRADES THAT ARE ON MY RADAR:</span></b>\r\n\r\nThe following trade set-ups are on my radar and although they may be some way away from triggering an entry these are my trading ideas for the next week. I currently have 5 live trades at this present time and my goal will be more FLASH TRADE focused than longer term trades at the moment but having said that these are the trades and the levels that I am looking at. It is your decision if you mirror these trades:\r\n\r\nEUR/AUD\r\nLong\r\nLimit order entry: 1.5150\r\nStop Loss: 1.4900\r\n<span style=\"line-height: 1.5em;\">Limit: 1.7400</span>\r\n\r\nGBP/AUD\r\nLong\r\nLimit order entry: 1.7750\r\nStop Loss: 1.7450\r\n<span style=\"line-height: 1.5em;\">Limit: 1.9215</span>\r\n\r\nEUR/CAD\r\nLong\r\nLimit order entry: 1.5450\r\nStop Loss: 1.5000\r\n<span style=\"line-height: 1.5em;\">Limit: 1.6230</span>\r\n\r\nGBP/CAD\r\nLong\r\nLimit order entry: 1.8450\r\nStop Loss: 1.8150\r\n<span style=\"line-height: 1.5em;\">Limit: 2.020</span>\r\n\r\nNZD/USD\r\nShort\r\nLimit order entry: 0.8635\r\nStop Loss: 0.8680\r\n<span style=\"line-height: 1.5em;\">Limit: 0.8340</span>\r\n\r\nAUD/USD\r\nShort\r\nLimit order entry: 0.9140\r\nStop Loss: 0.9280\r\n<span style=\"line-height: 1.5em;\">Limit: 0.8830</span>\r\n\r\nI am also looking to add long to my EUR/NZD and GBP/NZD trades at slightly lower levels this would if these trades swung back to the long side negate ALL losses. I will tweet about these during the week if they come into play.\r\n\r\nDue to severe losses on JPY pairs a while ago I have been staying away from these but I have been watching and dummy trading these pairs in the background recently and I will start offering trades on these pairs soon\r\n\r\nI have ideas on EUR/GBP and AUD/NZD but these are way too far away to write down at this stage.\r\n\r\n<b><span style=\"text-decoration: underline;\"> </span></b>\r\n\r\n<b><span style=\"text-decoration: underline;\">7. LOOKING FORWARD…THE KEY SUPPORT &amp; RESISTANCE LEVELS WITH THE USD MAJORS:</span></b>\r\n\r\n<b>EUR/USD: Closing Price 1.3793.</b>  I am looking at the EUR/USD as being a false breakout, however the EUR/USD is still close to breakout territory. The next few sessions should determine whether this pair is going higher or we topped at 1.3967. I do not think that the USD is out of the woods yet, but it is getting there and I am tempted to nibble with the pullback strategy with this pair over the coming sessions. The range is simple, but large 1.3720 to 1.3970\r\n\r\n<b>GBP/USD: Closing Price 1.6485. </b>In the past week or so we had a big fall back for cable. We are playing out a measured move double top around 1.6780, which should take us lower to 1.6340. 1.6465 is a big support going lower and 1.6570 should offer good resistance in the other direction.\r\n\r\n<b>AUD/USD: Closing Price 0.9079</b>. I am ready to short the pants off this pair; just get me the entry price of 0.9140, or as close to as possible. The range for me is 0.9000 to 0.9140\r\n\r\n<b>NZD/USD: Closing Price 0.8531</b>.  Some bad GDP data from New Zealand during the past week has put a stop to the grind higher. My question is are we consolidating to move higher or ready to fall? The key level of 0.8500 support needs to be taken for the bears and 0.8575 resistance for the bulls to watch.\r\n\r\n<b>USD/CAD: Closing Price 1.1220.</b> The USD/CAD strengthened like crazy yesterday (Friday) on good economic data that once again appeared to be leaked, it is so damn annoying and totally illegal if it is happening. The range of 1.1150 to 1.1315 is in play.\r\n\r\n<b>USD/CHF: Closing Price 0.8828</b>. I am little hesitant to trade this pair given the links and tensions to the Ukraine. The safety play is always in the back of my mind. Having just written that perhaps it would be a great long from around 0.8500…dream on. The present range is from 0.8800 to 0.8870.\r\n\r\n<b>USD/JPY: Closing Price 102.26.  </b>Let me just say the range is 102.00 to 102.80.\r\n\r\n<b> </b>\r\n\r\n<b><span style=\"text-decoration: underline;\">8. MAJOR FOREX NEWS THIS WEEK THAT INTERESTS ME:</span></b>\r\n\r\nSUNDAY: CNY – HSBC Flash Manufacturing PMi.\r\n\r\nMONDAY: EUR – French &amp; German Flash Manufacturing PMi.\r\n\r\nTUESDAY: GBP – CPi\r\n\r\nWEDNESDAY: NZD – Trade Balance.\r\n\r\nTHURSDAY: GBP – Retail Sales.\r\n\r\nFRIDAY: N/A.<b></b>\r\n\r\n&nbsp;\r\n\r\n<b><span style=\"text-decoration: underline;\">9. THE UPDATED PREMIUM SERVICE DATA:</span></b>\r\n\r\nThe following is a copy of the document that will appear on the welcome page of THE WEEKLY FX DRIVE THRU:\r\n<p align=\"center\"><b><span style=\"text-decoration: underline;\">THE PREMIUM SERVICE   </span></b>\r\n\r\nFirstly, the PREMIUM SERVICE is a subscriber only addition to The WEEKLY FX DRIVE-THRU. The WEEKLY FX DRIVE-THRU is a weekly blog that I started over two years ago. Its aim was to review my thoughts and ideas on the Forex market. I then started to add trade set-ups and write about trades that would be on my mind if certain events took place.\r\n\r\nI started to publish my future trade set-ups, which were predominantly profitable and as I approached my 100<sup>th</sup> blog, I decided that it was time to move to the next stage…. the PREMIUM SERVICE.\r\n\r\nThe PREMIUM SERVICE contains trade-set ups of my various styles of trades that I developed into a successful formula for trading the Forex market with more profitable than losing trades.\r\n\r\nAs a subscriber to the PREMIUM SERVICE, you will receive all my suggested trades whether they are: - FLASH trades, RADAR trades or FUNDAMENTAL trades via an exclusive protected Twitter feed. I give you my thoughts on entry, exit, trade size and what type of lot to trade.\r\n\r\nI do the risk assessment ahead of the trade. You decide whether you want to take the trade and what position size to take.\r\n\r\nIf you trade part-time: with the RADAR TRADE suggestions you simply load a limit order with your broker and the trade will enter and exit automatically, if you use the suggestions I provide, or you can chose your own exit strategy.\r\n\r\n(Full details and definitions of FLASH, RADAR and FUNDAMENTAL trades are inside the secure members area of the PREMIUM SERVICE)\r\n\r\n</p><p align=\"center\"><b>What are the current trading success rates with the PREMIUM SERVICE?</b></p>\r\nFrom my blogs published in December and January the following is an accurate trade by trade set up that was either “Blogged” or “Tweeted” via my twitter account @pipaccumulator (If you want more details please contact me directly via email - my address is at the foot of this document). I have my own history from the past 6 /7 years but it is displayed as below or in excel spread sheets as seen in my blog posts in the WEEKLY FX DRIVE-THRU <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a> and below.\r\n<p align=\"center\"><b><span style=\"text-decoration: underline;\">RADAR, FLASH and FUNDAMENTAL TRADES</span></b></p>\r\n<p align=\"center\"><b><span style=\"text-decoration: underline;\">FEBRUARY 2014 and YEAR to date:</span></b></p>\r\nBelow I show the up to date performances for my various trading styles. Full excel spreadsheets are in the subscriber area of the PREMIUM SERVICE.\r\n<p style=\"text-align: center;\"><b><span style=\"text-decoration: underline;\">RADAR TRADES – FEBRUARY 2014:\r\n</span></b><b style=\"line-height: 1.5em;\"><span style=\"text-decoration: underline;\">PROFITS FROM SINGLE LOT COMPLETED RADAR TRADES:</span></b></p>\r\n<p align=\"center\">1 x MICRO-LOT:\r\n14 trades at $0.10 cents each = $1.40 risk for $18.80 profit.</p>\r\n<p align=\"center\">1 x MINI-LOT:\r\n14 trades at $1.00 each = $14.00 risk for $188.00 profit.</p>\r\n<p align=\"center\">1 x STANDARD LOT:\r\n14 trades at $10.00 each = $140.00 risk for $1,880.00 profit.</p>\r\n<p style=\"text-align: center;\"><b><span style=\"text-decoration: underline;\"> </span></b><b><span style=\"text-decoration: underline;\">FLASH TRADES – FEBRUARY 2014:\r\n</span></b><b><span style=\"text-decoration: underline;\">PROFITS FROM SINGLE LOT COMPLETED FLASH TRADES:</span></b></p>\r\n<p align=\"center\">1 x MICRO-LOT:</p>\r\n<p align=\"center\">28 trades at $0.10 cents each = $2.80 cents risk for $65.50 profit.</p>\r\n<p align=\"center\">1 x MINI-LOT:</p>\r\n<p align=\"center\">28 trades at $1.00 each = $28.00 risk for $655.00 profit.</p>\r\n<p align=\"center\">1 x STANDARD LOT:</p>\r\n<p align=\"center\">28 trades at $10.00 each = $280.00 risk for $6,550.00 profit.</p>\r\n<p style=\"text-align: center;\"><b><span style=\"text-decoration: underline;\">FUNDAMENTAL TRADES – FEBRUARY 2014:\r\n</span></b><b style=\"line-height: 1.5em;\"><span style=\"text-decoration: underline;\">PROFITS FROM SINGLE LOT COMPLETED FUNDAMENTAL TRADES:</span></b></p>\r\n<p align=\"center\">1 x MICRO-LOT:\r\n20 trades at $0.10 cents each = $2.00 cents risk for $15.50 profit</p>\r\n<p align=\"center\">1 x MINI-LOT:\r\n20 trades at $1.00 each = $20.00 risk for $155.00 profit.</p>\r\n<p align=\"center\">1 x STANDARD LOT:\r\n20 trades at $10.00 each = $200.00 risk for $1,550.00 profit</p>\r\n<b><span style=\"text-decoration: underline;\"> </span></b>\r\n<p align=\"center\"><b><span style=\"text-decoration: underline;\">COMBINED FLASH, RADAR AND FUNDAMENTAL TRADES PROFIT PERFORMANCE</span></b></p>\r\n<p align=\"center\"><b><span style=\"text-decoration: underline;\">FEBRUARY 2014</span></b></p>\r\n<p align=\"center\">TRADING MICRO-LOTS:\r\n62 trades at $0.10 cents each = $6.20 risk for $99.80 profit.</p>\r\n<p align=\"center\">TRADING MINI-LOTS:\r\n62 trades at $1.00 each = $62.00 risk for $998.00 profit.</p>\r\n<p align=\"center\">TRADING STANDARD LOTS:\r\n62 trades at $10.00 each = $620.00 risk for $9,980.00 profit.</p>\r\n<p align=\"center\"><b><span style=\"text-decoration: underline;\"> </span></b></p>\r\n<p align=\"center\"><b><span style=\"text-decoration: underline;\">COMBINED FLASH, RADAR AND FUNDAMENTAL TRADES PROFIT PERFORMANCE</span></b></p>\r\n<p align=\"center\"><b><span style=\"text-decoration: underline;\">YEAR TO DATE JAN &amp; FEB - 2014:</span></b></p>\r\n<p align=\"center\">TRADING MICRO-LOTS:\r\n109 trades at $0.10 cents each = $10.90 risk for $178.30 profit.</p>\r\n<p align=\"center\"> TRADING MINI-LOTS:\r\n109 trades at $1.00 each = $109.00 risk for $1,783.00 profit.</p>\r\n<p align=\"center\">TRADING STANDARD LOTS:\r\n109 trades at $10.00 each = $1,090.00 risk for $17,830 profit.</p>\r\nIf you go to <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a> and check back over the past 8/9 posts you can see very clearly the growth week by week to give this total.\r\n\r\nI am NOT saying that this can be expected every month because I am a cautious trader.\r\n\r\nHowever, I do trade currencies to make money.\r\n\r\nWhilst I like the idea of longer-term trading, if the market looks false to me I will cut profitable trades and bank money. I am not looking for the glory of three/four week trades to show I have nerves of steel to make +300 pips or so. If I can make 300 pips from three or four 24/48 hour trades instead, who cares? It’s all about banking profits and minimizing risk.\r\n\r\nI will have a balance of intra-day, swing and long term trades. It is your choice to pick what you want to take and what to risk. I am a low-risk very conservative trader.\r\n<p align=\"center\">FUNDAMENTALS MATTER TO ME</p>\r\n<p align=\"center\">I TRADE TO MAKE MONEY…NOT TO PICK TOPS OR BOTTOMS</p>\r\n<p align=\"center\">I TRADE LOW RISK</p>\r\n<p align=\"center\">I DO NOT CHASE MARKETS</p>\r\n<p align=\"center\">I LIKE THE TRADES TO COME TO ME</p>\r\n<p align=\"center\">I AM NOT A GREEDY TRADER</p>\r\n<p align=\"center\">I LIKE TO TRADE MOMENTUMS IN THE DIRECTION OF TRENDS</p>\r\n<p align=\"center\">I USE FIBONACCI LEVELS TO ENTER &amp; EXIT ON MANY TRADES</p>\r\n<p align=\"center\">PLUS</p>\r\n<p align=\"center\">MY TRADING STYLE IS MIXED EVEN WITH THE ABOVE KEY BASICS</p>\r\n<p align=\"center\">I USE THE PULLBACK STRATEGY TO ENTER AND I LIKE SWING AND LONGER-TERM TRADES (WHEN POSSIBLE)</p>\r\n&nbsp;\r\n\r\nThe members area of the website contains not just the comprehensive trading history / journal of trades but it also contains as much support information as I can gather that is of use to help us all trade profitably. As time moves on, the support pages areas will increase so that it becomes a one-stop point of reference for all styles and types of traders regardless of experience.\r\n\r\nI am hoping to have a chat room so that subscribers and myself can chat live about potential live trades. In addition, if the number of participants is economically viable, I will hold webinars on trading issues.\r\n\r\nThe PREMIUM SERVICE will evolve as it moves forward. The Trader support section of the website is growing each week. Essential trading support material from blog posts and from other sources are added to build up what I hope to be an extensive library of information useful to traders of all levels.\r\n\r\n&nbsp;\r\n\r\nWhilst upon first look, it may appear that the Premium Service is directed solely at new traders, or those with intermediate skill levels. Please note this is not my intention. Trading can be lonely, and sometimes it is good to feel that you are part of a team. With this in mind, I am thinking that a “Chat Room” style area would be of benefit to all traders to share ideas and trade set-ups. Plus, whether you are a new trader or an experienced trader it is always good to have a library of information available close at hand.\r\n\r\nWhat are the costs?\r\n\r\nThere will be 40 weekly blogs / issues per year. I will not write in the summer and over Christmas periods. There will be an unlimited amount of Twitter follow-ups to the exclusive subscribers on a Twitter secure feed during the week to review and act upon “FLASH, RADAR and FUNDAMENTAL trades” and issues emanating from previous blogs.\r\n<p align=\"center\"><b><span style=\"text-decoration: underline;\">TRY IT AND SEE DEAL:</span></b></p>\r\n<p align=\"center\"><b>You can try the PREMIUM SERVICE for a nominal $20.00 for 4 weeks membership. </b></p>\r\n<p align=\"center\"><b>You will have a full 100% access to the secure area of the website and the exclusive protected Twitter feed via @ThePremService</b></p>\r\n<p align=\"center\"><b>To try the PREMIUM SERVICE on this special offer you need to go to “SIGN-UP” and follow the instructions by clicking the 4-week option button at the subscription section.</b></p>\r\n<p align=\"center\"><b>At the end of your 4 weeks you can either walk away or subscribe to one of the options below.</b></p>\r\n<p align=\"center\"><b><span style=\"text-decoration: underline;\"> </span></b></p>\r\n<p align=\"center\"><b><span style=\"text-decoration: underline;\">FIRST TIME / INITIAL SUBSCRIPTION RATES:</span></b></p>\r\n<p align=\"center\"><b>There are three subscription options:</b></p>\r\n<p align=\"center\"><b>40 WEEKS (ANNUAL) SUBSCRIPTION: $400.00\r\n(equivalent $10.00 per week) </b></p>\r\n<p align=\"center\"><b>20 WEEKS SUBSCRIPTION: $250.00\r\n(equivalent $12.50 per week) </b></p>\r\n<p align=\"center\"><b>10 WEEKS SUBSCRIPTION: $150.00\r\n(equivalent $15.00 per week) </b></p>\r\n<p align=\"center\"><b>(All Fees are quoted in USD\r\nand\r\nPlease note: There are no refunds once a subscription is accepted)</b></p>\r\n<p align=\"center\"><b> </b></p>\r\n<p align=\"center\"><b><span style=\"text-decoration: underline;\">RENEWAL RATES:</span></b></p>\r\n<b>These apply after a full priced subscription has completed:</b>\r\n<p align=\"center\"><b>40 WEEKS (ANNUAL) SUBSCRIPTION: $300.00\r\n(equivalent $7.50 per week) </b></p>\r\n<p align=\"center\"><b>20 WEEKS SUBSCRIPTION: $200.00\r\n(equivalent $10.00 per week) </b></p>\r\n<p align=\"center\"><b>10 WEEKS SUBSCRIPTION: $150.00\r\n(equivalent $15.00 per week) </b></p>\r\n<p align=\"center\"><b>(All Fees are quoted in USD\r\nand\r\nPlease note: There are no refunds once a subscription is accepted)</b></p>\r\n&nbsp;\r\n\r\nIf you like what you have just read. Please click on the “SIGN -UP” link at the top of the welcome page of the WEEKLY FX DRIVE-THRU.\r\n\r\nThe registration is very straightforward to follow all you require is a PayPal account.\r\n\r\nWhen the registration process is complete and, within 24 hours, you will receive an email from me confirming everything and welcoming you onboard so to speak.\r\n\r\nShould you have any queries or encounter problems whilst trying to subscribe please contact me on the following email: -\r\n<p align=\"center\"><b><span style=\"text-decoration: underline;\">premiumservice@weeklyfxdrivethru.com</span></b></p>\r\nI do hope that if you look through the history of my blog posts on the WEEKLY FX DRIVE-THRU you will see that I do have a relevance to the Forex market and that joining the PREMIUM SERVICE would add value to your trading.\r\n\r\n&nbsp;\r\n\r\n<b><span style=\"text-decoration: underline;\">10. FINAL THOUGHTS:</span></b>\r\n\r\nNot a heavy news item week for me this week, but I still think that the bull / bear battle in equities will continue and that the Ukraine is NOT out of the picture yet. So all in all it should be an interesting week.\r\n\r\nI still think we will be in very difficult trading conditions as the ‘twitchiness’ in the market continues. I actually think that matters will intensify, as we are very stretched.\r\n\r\nBig news on the PREMIUM SERVICE and this will take up a lot of my time this coming week, but I should still have plenty of time to trade. With this final point in mind, trade carefully, exercise good and sound MONEY MANAGEMENT. Always trade using the guidelines set out inside your TRADING PLAN.\r\n\r\nGood luck and be careful with position sizes.\r\n\r\nScott Pickering\r\nThe Pip Accumulator\r\nSaturday March 22nd 2014\r\n\r\nEMAIL / FOLLOW ME AT:\r\npremiumservice@weeklyfxdrivethru.com\r\nTwitter: @pipaccumulator\r\nTwitter: @ThePremService\r\n<span style=\"line-height: 1.5em;\">Google+/scottpickering\r\n</span><span style=\"line-height: 1.5em;\">StockTwits; thepipaccumulator</span>\r\n\r\n&nbsp;','SANCTIONS MY A** - IT’S TOO LITTLE TOO LATE AND PUTIN IS WELL IN CONTROL. HOW DO WE TRADE THIS?','','publish','open','closed','','sanctions-little-late-putin-well-control-trade','','','2014-03-22 07:03:07','2014-03-22 12:03:07','',0,'https://weeklyfxdrivethru.com/?post_type=member_posts&#038;p=3347',0,'member_posts','',0),(3349,1,'2014-03-22 07:02:48','2014-03-22 12:02:48','<p style=\"text-align: left;\" align=\"center\"><b><span style=\"text-decoration: underline;\">1. INTRODUCTION:</span></b></p>\r\nTwo weeks on…a completed trip to Dublin for St Patrick’s Day….copious amounts of Guinness consumed and back to more of the same as it was before I left. Now, I really do not mean to complain, or sound negative; but I am finding this market very challenging. It is what it is, but, give me a break.\r\n\r\nI am above water for this month but it has been a challenge. I re-iterate what I have said before in tweets and recent blogs; if you are a new trader it is not always like this and if you can survive this you can survive anything. The market is not forgiving and just when you think that you have it, it turns on you. It is not normal. If you read the last two or three blogs that I have written I have posted ways to help you survive.\r\n\r\nMoving on...\r\n\r\nJanet Yellen left her mark on the week and the markets took her seriously for 24 hours and then reverted to the WTF, buy on dips mode once again.\r\n\r\nThe Ukraine, which was very serious, has turned into a fiasco in my opinion and it now replicates the scene from the Monty Python movie “The Life of Brian” when “Reg” the leader of the Judean People’s Popular Front decides to take immediate action. In his language that meant lets form a head committee and a sub committee to work on options. Meanwhile it all goes on before his eyes and it’s too little too late. The ECB and Obama have modeled their administrations on “Reg”. Yer man, Putin, is just not playing by the rules…yeah right. The markets appear completely not interested anymore so off we go again pressing higher. Fundamentals count…my a** they don’t.\r\n\r\nThe USD did not die…come back Lazarus. The EUR/USD break to 1.3967 was a false breakout. Maybe tapering will have an effect? In any event false breakouts usually mean the turn back is much stronger. Watch this space.\r\n\r\nOther big news for me is that I have now reached my target subscriber numbers to the PREMIUM SERVICE. As this is NOT about the $$$, I have revised my prices, introduced a “TRY IT &amp; SEE” option for 4 weeks for $20.00. All existing members now known as my “CORE” have had their final subscription dates extended and then some more!\r\n\r\nI am delighted with the impact and the fact that subscribers are worldwide. Soon I will deliver a “DAILY POST” for subscribers to the PREMIUM SERVICE direct to the website daily prior to 9.00am EDT. This will be in addition to the protected “Twitter” feed. The DAILY POST will be trade-set ups only with little supporting information and will vary in size depending upon what interest’s me.\r\nI have a full section later on the PREMIUM SERVICE updates and the web site will be able to accept the new and revised subscriptions from Tuesday morning (hopefully!!) the 25<sup>th</sup> March 2014.\r\n\r\n<b><span style=\"text-decoration: underline;\">2. TRADING SUMMARY:</span></b>\r\n<p align=\"center\"><b><span style=\"text-decoration: underline;\">RADAR, FLASH and FUNDAMENTAL TRADES\r\n</span></b><b><span style=\"text-decoration: underline;\">MARCH 2014 and YEAR to date:</span></b></p>\r\nBelow I show the up to date performances for my various trading styles. Full excel spreadsheets are in the subscriber area of the PREMIUM SERVICE.\r\n<p style=\"text-align: center;\"><b><span style=\"text-decoration: underline;\">RADAR TRADES – MARCH 2014:</span></b></p>\r\n<p align=\"center\"><b><span style=\"text-decoration: underline;\">PROFITS FROM SINGLE LOT COMPLETED RADAR TRADES:</span></b></p>\r\n<p style=\"text-align: center;\"> 1 x MICRO-LOT:\r\n5 trades at $0.10 cents each = $0.50 risk for $8.90 loss.</p>\r\n<p align=\"center\">1 x MINI-LOT:\r\n5 trades at $1.00 each = $5.00 risk for $89.00 loss.</p>\r\n<p align=\"center\"><span style=\"line-height: 1.5em;\">1 x STANDARD LOT:\r\n</span><span style=\"line-height: 1.5em;\">5 trades at $10.00 each = $50.00 risk for $890.00.</span></p>\r\n<p style=\"text-align: center;\"><b></b><b style=\"line-height: 1.5em;\"><span style=\"text-decoration: underline;\">FLASH TRADES – MARCH 2014:\r\n</span></b><b><span style=\"text-decoration: underline;\">PROFITS FROM SINGLE LOT COMPLETED FLASH TRADES:</span></b></p>\r\n<p style=\"text-align: center;\" align=\"center\">1 x MICRO-LOT:\r\n14 trades at $0.10 cents each = $1.40 cents risk for $44.10 profit.</p>\r\n<p align=\"center\">1 x MINI-LOT:\r\n14 trades at $1.00 each = $14.00 risk for $441.00 profit.</p>\r\n<p align=\"center\">1 x STANDARD LOT:\r\n14 trades at $10.00 each = $140.00 risk for $4,410.00 profit.</p>\r\n<p align=\"center\"><b><span style=\"text-decoration: underline;\"> </span></b><b style=\"line-height: 1.5em;\"><span style=\"text-decoration: underline;\">FUNDAMENTAL TRADES – MARCH 2014:\r\n</span></b><b style=\"line-height: 1.5em;\"><span style=\"text-decoration: underline;\">PROFITS FROM SINGLE LOT COMPLETED FUNDAMENTAL TRADES</span></b></p>\r\n<p style=\"text-align: center;\">1 x MICRO-LOT:\r\n0 trades at $0.10 cents each = $0.00 cents risk for $0.00 profit</p>\r\n<p align=\"center\">1 x MINI-LOT:\r\n0 trades at $1.00 each = $0.00 risk for $0.00 profit.</p>\r\n<p align=\"center\"> 1 x STANDARD LOT:\r\n0 trades at $10.00 each = $0.00 risk for $0.00 profit</p>\r\n<p align=\"center\"><b><span style=\"text-decoration: underline;\">COMBINED FLASH, RADAR AND FUNDAMENTAL TRADES PROFIT PERFORMANCE\r\n</span></b><b><span style=\"text-decoration: underline;\">MARCH 2014…SO FAR:</span></b></p>\r\n<p align=\"center\">TRADING MICRO-LOTS:\r\n19 trades at $0.10 cents each = $1.90 risk for $35.20 profit.</p>\r\n<p align=\"center\">TRADING MINI-LOTS:\r\n19 trades at $1.00 each = $19.00 risk for $352.00 profit.</p>\r\n<p align=\"center\">TRADING STANDARD LOTS:\r\n19 trades at $10.00 each = $190.00 risk for $3,520.00 profit.</p>\r\n<p align=\"center\"><b><span style=\"text-decoration: underline;\">COMBINED FLASH, RADAR AND FUNDAMENTAL TRADES PROFIT PERFORMANCE\r\n</span></b><b><span style=\"text-decoration: underline;\">TOTAL 2014…SO FAR:</span></b></p>\r\n<p align=\"center\">TRADING MICRO-LOTS:\r\n128 trades at $0.10 cents each = $12.80 risk for $213.50 profit.</p>\r\n<p align=\"center\">TRADING MINI-LOTS:\r\n128 trades at $1.00 each = $128.00 risk for $2,135.00 profit.</p>\r\n<p align=\"center\">TRADING STANDARD LOTS:\r\n128 trades at $10.00 each = $1,280.00 risk for $21,350.00 profit.</p>\r\nThe above examples are for illustration purposes only:\r\n\r\nThe profitability examples detailed above are based solely upon single lot trading, regardless of lot type. If multiple lot sizes are traded the profitability margins will be different than those shown.\r\n\r\nJust to provide more information so you understand where I am coming from with the risk / reward statements above. All of my trades are of different sizes and different size lot types. The above does not reflect the actual trading performance. I like to add to trades, profits are taken as the trade progresses and my overall cost average moves several times. All of my trades are of different lot styles. I trade a mixture of micro lots, mini lots and standard lots across my brokers.\r\n\r\nThe above results simply display your profit or loss if you placed a single lot trade on all the set-ups suggested and did nothing else.\r\n\r\n&nbsp;\r\n\r\n<b><span style=\"text-decoration: underline;\">3. THE FUNDAMENTAL TRADERS OVERVIEW:</span></b><b style=\"line-height: 1.5em;\"> </b>\r\n<p align=\"center\"><b>SANCTIONS MY A** - IT’S TOO LITTLE TOO LATE AND PUTIN IS WELL IN CONTROL.\r\n</b><b>HOW DO WE TRADE THIS?</b><b style=\"line-height: 1.5em;\"> </b></p>\r\nSo before my trip to Dublin, the Ukraine issues were front and centre, sanctions were being talked about in Washington and Brussels.\r\n\r\nI am not going to write a long piece about the Crimea and its importance to Moscow militarily for it’s fleet of navel ships, being that it contains a very deep- water port. Common sense in the west would have realized that this would NOT be handed over to a regime influenced by NATO. Hence I think, we have been playing a game, because lets get serious, these sanctions are a joke. The tit for tat approach between Moscow and Washington on banning individuals from entry to countries, is complete and utter boll***s.\r\n\r\nThe French, (who are always good for a laugh on Foreign Policy), telling Putin that they may not ship two warships to Russia because of the escalating Crimea situation. Jesus, if I were Putin I’d cancel the f*cking deal, he doesn’t need the ships anyway and that would hurt France more. Then there’s the French arguing with the UK over Russian “Oligarchs” in London living in substantial properties and their children being educated in UK private schools.\r\n\r\nFor God’s sake all Putin has to do is cut off the gas supply to Germany and that’s it.\r\n<p style=\"text-align: center;\"><em>Putin has all the aces in his hand.</em></p>\r\n<p style=\"text-align: center;\"><em>The sanctions in place, do they help the Ukraine – NO.</em></p>\r\n<p style=\"text-align: center;\"><em>Are these bluffs from Obama and Hollande and the EU easily seen – YES.</em></p>\r\n<p style=\"text-align: center;\"><em>Would more sanctions on trade help? – NO.</em></p>\r\nAll of the sanctions that have been causing unrest in the area so far have achieved little or nothing, in fact all they have done is massage the ego’s of a few numpty politicians….all this for ego’s!\r\n\r\nCommon sense has to prevail soon. The west knows that Putin <b>could not and</b> <b>would NOT</b> give up his naval bases. It would be suicide from his perspective. I am not saying that I agree with how this has happened but that is the high level view.\r\n\r\nI hate to write this but I think the common sense in this situation will come from Angela Merkel as the Germans are so reliant on the pipeline of natural gas pumping. Putin knows this and that is why he is sitting in Moscow playing the organ grinder, while, the monkey’s dance around.\r\n\r\nLets face facts, before the west could get up off it\'s a** and sort out what they were going to do, Putin organized a referendum (of sorts) had a vote, had it counted and had the paperwork signed in Moscow taking control of the Crimea. In that time the EZ were still debating Brie or Camembert for the cheese and Sauvignon Blanc or Chablis for the white and Pinot Noir or Bordeaux for the red. They were also waiting on the EZ can provider to come up with a can for kicking!\r\n\r\nGive me a break. The west’s response was muted because they knew what was at stake for Moscow but they never actually could politically say we have to let the Crimea pass title.\r\n\r\nMoving on to the trading aspect.\r\n\r\nIf Putin has designs on other parts of the Ukraine I do think that the story will unfold a little differently gas or no gas supply to the EZ.\r\n\r\nThe EUR/USD is trading very heavily and whilst it is in the range of 1.3720 to 1.3970, I would apply caution. It is a 270 pip trading range, whilst I think we had a false breakout to the highs we have NOT sold off the way that I would have thought given the fact we had a false breakout.\r\n\r\nMy trading ideas for the EUR/USD would be sell into strengths and buy on dips within mini ranges inside the 270 pip overall range. For example 1.3775 to 1.3808 is a range within the range. Its only 33 pips, but it pretty well contained the EUR/USD yesterday (Friday).\r\n\r\nThe EUR/USD is waiting for news to move it. I suggest not trading it until you get a momentum trade going.\r\n\r\nLook at other pairs preferably non USD related as USD traded pairs would be affected by Ukraine news:\r\n\r\nEUR/GBP\r\nAUD/JPY\r\n\r\nThese are two pairs that spring to mind. In any event do not get “gun-ho” with trading big lot/position sizes as you will get shot down unless you are very lucky. Volatility is ahead because I fear that the Ukraine news is far from over.\r\n\r\n&nbsp;\r\n\r\n<b><span style=\"text-decoration: underline;\">4. TRADER TOPICS:</span></b>\r\n<p align=\"center\"><span style=\"font-size: 14px;\"><b><span style=\"text-decoration: underline;\">MANAGING RISK:</span></b></span></p>\r\nI write a lot in the blogs and on twitter about MONEY / RISK MANAGEMENT and using proper MONEY MANAGEMENT and ACCOUNT MANAGEMENT controls.\r\n\r\nThe amount as a rough rule of thumb to predetermine the maximum percentage of total account equity that one is prepared to risk per trade is between 0.5% and 1.0%\r\n\r\nThis discipline has two big benefits:\r\n\r\nFirstly, it prevents “heavy / big losses” occurring from any single trade since the size of each position would be adjusted to fit within the maximum % risk of total equity that you have listed in your TRADING PLAN.\r\n\r\nSecondly, this discipline prevents continued “heavy / big losses” during a continued streak of loss making trades. This can happen and it is awful to experience, but if you trade consistently with discipline you prevent your account suffering huge losses that can wipe out your account very quickly.\r\n\r\nFrom your TRADING PLAN, you will already have your risk in pips calculated and your entry and stop and lot size calculated.\r\n\r\nTRADE EXAMPLE: -\r\n<ol>\r\n	<li>Let’s assume for the purpose of an example that you have already decided in your trade plan that your risk tolerance is 1% of total equity per trade placed. Your account has a balance of $10,000.00.</li>\r\n	<li>This means that your risk = $100.00.The trade in question that you are considering requires at 47pip stop loss to meet the pivot points or Fibonacci levels. That will offer support to the trade and in accordance with you TRADING PLAN these are your trading parameters.</li>\r\n	<li>Trading Standard lots = 47pips x $10.00 = $470.00 – this trade is not possible within your TRADING PLAN guidelines.</li>\r\n	<li>What do you do next? The great flexibility for Forex trading is that you can adjust your trade size to fit the risk. There are three values to the three lot sizes available.\r\n<span style=\"line-height: 1.5em;\">Standard Lots at $10.00 each\r\n</span><span style=\"line-height: 1.5em;\">Mini Lots at $1.00 each\r\n</span><span style=\"line-height: 1.5em;\">Micro Lots at $0.10 cents each\r\n</span></li>\r\n	<li>Instead of approaching this trade with Standard lots, look at the lot size lower. Trading Mini lots at a value of $1.00 each gives you the following opportunity: ($100 / 47 = 2.12 lots maximum to meet your risk tolerance of $200 for this trade example)</li>\r\n</ol>\r\nTherefore if you take this trade with 2 x Mini lots your maximum risk based on a 47 pip stop is 2 x 47 =  $94.00 (under the 2% / $100 risk tolerance as per your TRADING PLAN).\r\n\r\n<b>(In the coming weeks in the PREMIUM SERVICE blog…this example will be expanded, as I will write about the benefits of a multi broker approach to trading)</b>\r\n\r\nThe decision whether to enter a trade becomes a simple question of the risk-to-reward ratio. As I have written many times, before I enter a trade I know what my risk is first before I even place the trade with my broker.\r\n\r\nMany traders will write a “winning percentage”, I hate the terms winning and losing. Trading is not similar to being in Las Vegas. You are a RISK ASSESSOR, you have loss making trades and you have profitable trades, it is NOT gambling like sitting at a roulette table in Las Vegas.\r\n\r\nNow, please do not misunderstand me, your percentage of profitable trades is important to know, but it is NOT an indicator of how good your trading strategy is. Strategy defines success, and success equals $$$$. Using percentages to define success or failure in trading can make you focus on recent trades only. You could lose sight of the big picture, and this could lead to overconfidence and deviation from your TRADING PLAN and, the strict discipline guidelines and this could lead to “revenge” or “desperation” trades.\r\n\r\nLonger-term traders can run the risk of developing the rather destructive habit of wanting to be right rather than being successful. To this end, many traders will take profits off the table early to be right and achieve a profitable trade rather than letting a profitable trade run. This habit can also lead to letting loss-making trades run too far away, you move stops and break your TRADING PLAN guidelines for trading.\r\n\r\nIn my book, there is only one way to truly measure trading success and that sustained profitability.\r\n\r\nThis is why having a TRADING PLAN detailing a RISK AND ACCOUNT MANAGEMENT plan with discipline is an absolute essential part of any successful trading strategy, without one, in my opinion sustained profitability is virtually impossible.\r\n\r\n<b> </b>\r\n\r\n<b><span style=\"text-decoration: underline;\">5. MY CURRENT LIVE TRADES:</span></b>\r\n\r\n<b><span style=\"text-decoration: underline;\">FLASH TRADES:</span></b>\r\n\r\nFT37\r\nEUR/AUD (This trade is hedged from -150 pips)\r\nLong\r\nCost Average: 1.5419\r\nStop Loss: 1.4900\r\nLimit / Target: 1.7400\r\nMy Position Size: 7.50%\r\nClosing Weekly Position: 1.5183\r\n<span style=\"line-height: 1.5em;\">My present Profit / Loss position: - 236 pips</span>\r\n\r\nFT61\r\nUSD/CAD\r\nLong\r\nCost Average: 1.1215\r\nStop Loss: 1.1160\r\nLimit/Target: 1.1600\r\nMy Position Size: 20%\r\nClosing Weekly Position: 1.1220\r\nMy Present Profit / Loss Position: + 8 pips\r\n\r\nFT63\r\nGBP/USD\r\nShort\r\nCost Average: 1.6500\r\nStop Loss: 1.6570\r\nLimit/Target: 1.6350\r\nMy Position Size: 20%\r\nClosing Weekly Position: 1.6485\r\nMy Present Profit / Loss Position: +15 pips<b></b>\r\n\r\n<b><span style=\"text-decoration: underline;\"> </span></b>\r\n\r\n<b><span style=\"text-decoration: underline;\">RADAR TRADES:</span></b>\r\n\r\nI have no LIVE RADAR trades at the moment.\r\n\r\n&nbsp;\r\n\r\n<b><span style=\"text-decoration: underline;\">FUNDAMENTAL TRADES:</span></b>\r\n\r\nI am still keeping these trades as my losses are hedged and are net not increasing. It is just the overnight swap rates that will cause me an issue soon if these pairs do not reverse direction.\r\n\r\nFUN13 (This trade is hedged from -150 pips)\r\nEUR/NZD\r\nLong\r\nCost Average: 1.6450\r\nStop Loss: 1.6000\r\nLimit / Target: 1.9000\r\nMy Position Size: 7.5%\r\nClosing Weekly Position: 1.6151\r\n<span style=\"line-height: 1.5em;\">My present Profit/Loss position: -299</span>\r\n\r\nFUN14 (This trade is hedged from -150 pips)\r\nGBP/NZD\r\nLong\r\nCost Average: 1.9950\r\nStop Loss: 1.9000\r\nLimit / Target: 2.2350\r\nMy Position Size: 7.5%\r\nClosing Weekly Position: 1.9305\r\n<span style=\"line-height: 1.5em;\">My present Profit/Loss position: -645 pips</span>\r\n\r\n&nbsp;\r\n\r\n<b><span style=\"text-decoration: underline;\">6. TRADES THAT ARE ON MY RADAR:</span></b>\r\n\r\nThe following trade set-ups are on my radar and although they may be some way away from triggering an entry these are my trading ideas for the next week. I currently have 5 live trades at this present time and my goal will be more FLASH TRADE focused than longer term trades at the moment but having said that these are the trades and the levels that I am looking at. It is your decision if you mirror these trades:\r\n\r\nEUR/AUD\r\nLong\r\nLimit order entry: 1.5150\r\nStop Loss: 1.4900\r\n<span style=\"line-height: 1.5em;\">Limit: 1.7400</span>\r\n\r\nGBP/AUD\r\nLong\r\nLimit order entry: 1.7750\r\nStop Loss: 1.7450\r\n<span style=\"line-height: 1.5em;\">Limit: 1.9215</span>\r\n\r\nEUR/CAD\r\nLong\r\nLimit order entry: 1.5450\r\nStop Loss: 1.5000\r\n<span style=\"line-height: 1.5em;\">Limit: 1.6230</span>\r\n\r\nGBP/CAD\r\nLong\r\nLimit order entry: 1.8450\r\nStop Loss: 1.8150\r\n<span style=\"line-height: 1.5em;\">Limit: 2.020</span>\r\n\r\nNZD/USD\r\nShort\r\nLimit order entry: 0.8635\r\nStop Loss: 0.8680\r\n<span style=\"line-height: 1.5em;\">Limit: 0.8340</span>\r\n\r\nAUD/USD\r\nShort\r\nLimit order entry: 0.9140\r\nStop Loss: 0.9280\r\n<span style=\"line-height: 1.5em;\">Limit: 0.8830</span>\r\n\r\nI am also looking to add long to my EUR/NZD and GBP/NZD trades at slightly lower levels this would if these trades swung back to the long side negate ALL losses. I will tweet about these during the week if they come into play.\r\n\r\nDue to severe losses on JPY pairs a while ago I have been staying away from these but I have been watching and dummy trading these pairs in the background recently and I will start offering trades on these pairs soon\r\n\r\nI have ideas on EUR/GBP and AUD/NZD but these are way too far away to write down at this stage.\r\n\r\n<b><span style=\"text-decoration: underline;\"> </span></b>\r\n\r\n<b><span style=\"text-decoration: underline;\">7. LOOKING FORWARD…THE KEY SUPPORT &amp; RESISTANCE LEVELS WITH THE USD MAJORS:</span></b>\r\n\r\n<b>EUR/USD: Closing Price 1.3793.</b>  I am looking at the EUR/USD as being a false breakout, however the EUR/USD is still close to breakout territory. The next few sessions should determine whether this pair is going higher or we topped at 1.3967. I do not think that the USD is out of the woods yet, but it is getting there and I am tempted to nibble with the pullback strategy with this pair over the coming sessions. The range is simple, but large 1.3720 to 1.3970\r\n\r\n<b>GBP/USD: Closing Price 1.6485. </b>In the past week or so we had a big fall back for cable. We are playing out a measured move double top around 1.6780, which should take us lower to 1.6340. 1.6465 is a big support going lower and 1.6570 should offer good resistance in the other direction.\r\n\r\n<b>AUD/USD: Closing Price 0.9079</b>. I am ready to short the pants off this pair; just get me the entry price of 0.9140, or as close to as possible. The range for me is 0.9000 to 0.9140\r\n\r\n<b>NZD/USD: Closing Price 0.8531</b>.  Some bad GDP data from New Zealand during the past week has put a stop to the grind higher. My question is are we consolidating to move higher or ready to fall? The key level of 0.8500 support needs to be taken for the bears and 0.8575 resistance for the bulls to watch.\r\n\r\n<b>USD/CAD: Closing Price 1.1220.</b> The USD/CAD strengthened like crazy yesterday (Friday) on good economic data that once again appeared to be leaked, it is so damn annoying and totally illegal if it is happening. The range of 1.1150 to 1.1315 is in play.\r\n\r\n<b>USD/CHF: Closing Price 0.8828</b>. I am little hesitant to trade this pair given the links and tensions to the Ukraine. The safety play is always in the back of my mind. Having just written that perhaps it would be a great long from around 0.8500…dream on. The present range is from 0.8800 to 0.8870.\r\n\r\n<b>USD/JPY: Closing Price 102.26.  </b>Let me just say the range is 102.00 to 102.80.\r\n\r\n<b> </b>\r\n\r\n<b><span style=\"text-decoration: underline;\">8. MAJOR FOREX NEWS THIS WEEK THAT INTERESTS ME:</span></b>\r\n\r\nSUNDAY: CNY – HSBC Flash Manufacturing PMi.\r\n\r\nMONDAY: EUR – French &amp; German Flash Manufacturing PMi.\r\n\r\nTUESDAY: GBP – CPi\r\n\r\nWEDNESDAY: NZD – Trade Balance.\r\n\r\nTHURSDAY: GBP – Retail Sales.\r\n\r\nFRIDAY: N/A.<b></b>\r\n\r\n&nbsp;\r\n\r\n<b><span style=\"text-decoration: underline;\">9. THE UPDATED PREMIUM SERVICE DATA:</span></b>\r\n\r\nThe following is a copy of the document that will appear on the welcome page of THE WEEKLY FX DRIVE THRU:\r\n<p align=\"center\"><b><span style=\"text-decoration: underline;\">THE PREMIUM SERVICE   </span></b>\r\n\r\nFirstly, the PREMIUM SERVICE is a subscriber only addition to The WEEKLY FX DRIVE-THRU. The WEEKLY FX DRIVE-THRU is a weekly blog that I started over two years ago. Its aim was to review my thoughts and ideas on the Forex market. I then started to add trade set-ups and write about trades that would be on my mind if certain events took place.\r\n\r\nI started to publish my future trade set-ups, which were predominantly profitable and as I approached my 100<sup>th</sup> blog, I decided that it was time to move to the next stage…. the PREMIUM SERVICE.\r\n\r\nThe PREMIUM SERVICE contains trade-set ups of my various styles of trades that I developed into a successful formula for trading the Forex market with more profitable than losing trades.\r\n\r\nAs a subscriber to the PREMIUM SERVICE, you will receive all my suggested trades whether they are: - FLASH trades, RADAR trades or FUNDAMENTAL trades via an exclusive protected Twitter feed. I give you my thoughts on entry, exit, trade size and what type of lot to trade.\r\n\r\nI do the risk assessment ahead of the trade. You decide whether you want to take the trade and what position size to take.\r\n\r\nIf you trade part-time: with the RADAR TRADE suggestions you simply load a limit order with your broker and the trade will enter and exit automatically, if you use the suggestions I provide, or you can chose your own exit strategy.\r\n\r\n(Full details and definitions of FLASH, RADAR and FUNDAMENTAL trades are inside the secure members area of the PREMIUM SERVICE)\r\n\r\n</p><p align=\"center\"><b>What are the current trading success rates with the PREMIUM SERVICE?</b></p>\r\nFrom my blogs published in December and January the following is an accurate trade by trade set up that was either “Blogged” or “Tweeted” via my twitter account @pipaccumulator (If you want more details please contact me directly via email - my address is at the foot of this document). I have my own history from the past 6 /7 years but it is displayed as below or in excel spread sheets as seen in my blog posts in the WEEKLY FX DRIVE-THRU <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a> and below.\r\n<p align=\"center\"><b><span style=\"text-decoration: underline;\">RADAR, FLASH and FUNDAMENTAL TRADES</span></b></p>\r\n<p align=\"center\"><b><span style=\"text-decoration: underline;\">FEBRUARY 2014 and YEAR to date:</span></b></p>\r\nBelow I show the up to date performances for my various trading styles. Full excel spreadsheets are in the subscriber area of the PREMIUM SERVICE.\r\n<p style=\"text-align: center;\"><b><span style=\"text-decoration: underline;\">RADAR TRADES – FEBRUARY 2014:\r\n</span></b><b style=\"line-height: 1.5em;\"><span style=\"text-decoration: underline;\">PROFITS FROM SINGLE LOT COMPLETED RADAR TRADES:</span></b></p>\r\n<p align=\"center\">1 x MICRO-LOT:\r\n14 trades at $0.10 cents each = $1.40 risk for $18.80 profit.</p>\r\n<p align=\"center\">1 x MINI-LOT:\r\n14 trades at $1.00 each = $14.00 risk for $188.00 profit.</p>\r\n<p align=\"center\">1 x STANDARD LOT:\r\n14 trades at $10.00 each = $140.00 risk for $1,880.00 profit.</p>\r\n<p style=\"text-align: center;\"><b><span style=\"text-decoration: underline;\"> </span></b><b><span style=\"text-decoration: underline;\">FLASH TRADES – FEBRUARY 2014:\r\n</span></b><b><span style=\"text-decoration: underline;\">PROFITS FROM SINGLE LOT COMPLETED FLASH TRADES:</span></b></p>\r\n<p align=\"center\">1 x MICRO-LOT:</p>\r\n<p align=\"center\">28 trades at $0.10 cents each = $2.80 cents risk for $65.50 profit.</p>\r\n<p align=\"center\">1 x MINI-LOT:</p>\r\n<p align=\"center\">28 trades at $1.00 each = $28.00 risk for $655.00 profit.</p>\r\n<p align=\"center\">1 x STANDARD LOT:</p>\r\n<p align=\"center\">28 trades at $10.00 each = $280.00 risk for $6,550.00 profit.</p>\r\n<p style=\"text-align: center;\"><b><span style=\"text-decoration: underline;\">FUNDAMENTAL TRADES – FEBRUARY 2014:\r\n</span></b><b style=\"line-height: 1.5em;\"><span style=\"text-decoration: underline;\">PROFITS FROM SINGLE LOT COMPLETED FUNDAMENTAL TRADES:</span></b></p>\r\n<p align=\"center\">1 x MICRO-LOT:\r\n20 trades at $0.10 cents each = $2.00 cents risk for $15.50 profit</p>\r\n<p align=\"center\">1 x MINI-LOT:\r\n20 trades at $1.00 each = $20.00 risk for $155.00 profit.</p>\r\n<p align=\"center\">1 x STANDARD LOT:\r\n20 trades at $10.00 each = $200.00 risk for $1,550.00 profit</p>\r\n<b><span style=\"text-decoration: underline;\"> </span></b>\r\n<p align=\"center\"><b><span style=\"text-decoration: underline;\">COMBINED FLASH, RADAR AND FUNDAMENTAL TRADES PROFIT PERFORMANCE</span></b></p>\r\n<p align=\"center\"><b><span style=\"text-decoration: underline;\">FEBRUARY 2014</span></b></p>\r\n<p align=\"center\">TRADING MICRO-LOTS:\r\n62 trades at $0.10 cents each = $6.20 risk for $99.80 profit.</p>\r\n<p align=\"center\">TRADING MINI-LOTS:\r\n62 trades at $1.00 each = $62.00 risk for $998.00 profit.</p>\r\n<p align=\"center\">TRADING STANDARD LOTS:\r\n62 trades at $10.00 each = $620.00 risk for $9,980.00 profit.</p>\r\n<p align=\"center\"><b><span style=\"text-decoration: underline;\"> </span></b></p>\r\n<p align=\"center\"><b><span style=\"text-decoration: underline;\">COMBINED FLASH, RADAR AND FUNDAMENTAL TRADES PROFIT PERFORMANCE</span></b></p>\r\n<p align=\"center\"><b><span style=\"text-decoration: underline;\">YEAR TO DATE JAN &amp; FEB - 2014:</span></b></p>\r\n<p align=\"center\">TRADING MICRO-LOTS:\r\n109 trades at $0.10 cents each = $10.90 risk for $178.30 profit.</p>\r\n<p align=\"center\"> TRADING MINI-LOTS:\r\n109 trades at $1.00 each = $109.00 risk for $1,783.00 profit.</p>\r\n<p align=\"center\">TRADING STANDARD LOTS:\r\n109 trades at $10.00 each = $1,090.00 risk for $17,830 profit.</p>\r\nIf you go to <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a> and check back over the past 8/9 posts you can see very clearly the growth week by week to give this total.\r\n\r\nI am NOT saying that this can be expected every month because I am a cautious trader.\r\n\r\nHowever, I do trade currencies to make money.\r\n\r\nWhilst I like the idea of longer-term trading, if the market looks false to me I will cut profitable trades and bank money. I am not looking for the glory of three/four week trades to show I have nerves of steel to make +300 pips or so. If I can make 300 pips from three or four 24/48 hour trades instead, who cares? It’s all about banking profits and minimizing risk.\r\n\r\nI will have a balance of intra-day, swing and long term trades. It is your choice to pick what you want to take and what to risk. I am a low-risk very conservative trader.\r\n<p align=\"center\">FUNDAMENTALS MATTER TO ME</p>\r\n<p align=\"center\">I TRADE TO MAKE MONEY…NOT TO PICK TOPS OR BOTTOMS</p>\r\n<p align=\"center\">I TRADE LOW RISK</p>\r\n<p align=\"center\">I DO NOT CHASE MARKETS</p>\r\n<p align=\"center\">I LIKE THE TRADES TO COME TO ME</p>\r\n<p align=\"center\">I AM NOT A GREEDY TRADER</p>\r\n<p align=\"center\">I LIKE TO TRADE MOMENTUMS IN THE DIRECTION OF TRENDS</p>\r\n<p align=\"center\">I USE FIBONACCI LEVELS TO ENTER &amp; EXIT ON MANY TRADES</p>\r\n<p align=\"center\">PLUS</p>\r\n<p align=\"center\">MY TRADING STYLE IS MIXED EVEN WITH THE ABOVE KEY BASICS</p>\r\n<p align=\"center\">I USE THE PULLBACK STRATEGY TO ENTER AND I LIKE SWING AND LONGER-TERM TRADES (WHEN POSSIBLE)</p>\r\n&nbsp;\r\n\r\nThe members area of the website contains not just the comprehensive trading history / journal of trades but it also contains as much support information as I can gather that is of use to help us all trade profitably. As time moves on, the support pages areas will increase so that it becomes a one-stop point of reference for all styles and types of traders regardless of experience.\r\n\r\nI am hoping to have a chat room so that subscribers and myself can chat live about potential live trades. In addition, if the number of participants is economically viable, I will hold webinars on trading issues.\r\n\r\nThe PREMIUM SERVICE will evolve as it moves forward. The Trader support section of the website is growing each week. Essential trading support material from blog posts and from other sources are added to build up what I hope to be an extensive library of information useful to traders of all levels.\r\n\r\n&nbsp;\r\n\r\nWhilst upon first look, it may appear that the Premium Service is directed solely at new traders, or those with intermediate skill levels. Please note this is not my intention. Trading can be lonely, and sometimes it is good to feel that you are part of a team. With this in mind, I am thinking that a “Chat Room” style area would be of benefit to all traders to share ideas and trade set-ups. Plus, whether you are a new trader or an experienced trader it is always good to have a library of information available close at hand.\r\n\r\nWhat are the costs?\r\n\r\nThere will be 40 weekly blogs / issues per year. I will not write in the summer and over Christmas periods. There will be an unlimited amount of Twitter follow-ups to the exclusive subscribers on a Twitter secure feed during the week to review and act upon “FLASH, RADAR and FUNDAMENTAL trades” and issues emanating from previous blogs.\r\n<p align=\"center\"><b><span style=\"text-decoration: underline;\">TRY IT AND SEE DEAL:</span></b></p>\r\n<p align=\"center\"><b>You can try the PREMIUM SERVICE for a nominal $20.00 for 4 weeks membership. </b></p>\r\n<p align=\"center\"><b>You will have a full 100% access to the secure area of the website and the exclusive protected Twitter feed via @ThePremService</b></p>\r\n<p align=\"center\"><b>To try the PREMIUM SERVICE on this special offer you need to go to “SIGN-UP” and follow the instructions by clicking the 4-week option button at the subscription section.</b></p>\r\n<p align=\"center\"><b>At the end of your 4 weeks you can either walk away or subscribe to one of the options below.</b></p>\r\n<p align=\"center\"><b><span style=\"text-decoration: underline;\"> </span></b></p>\r\n<p align=\"center\"><b><span style=\"text-decoration: underline;\">FIRST TIME / INITIAL SUBSCRIPTION RATES:</span></b></p>\r\n<p align=\"center\"><b>There are three subscription options:</b></p>\r\n<p align=\"center\"><b>40 WEEKS (ANNUAL) SUBSCRIPTION: $400.00\r\n(equivalent $10.00 per week) </b></p>\r\n<p align=\"center\"><b>20 WEEKS SUBSCRIPTION: $250.00\r\n(equivalent $12.50 per week) </b></p>\r\n<p align=\"center\"><b>10 WEEKS SUBSCRIPTION: $150.00\r\n(equivalent $15.00 per week) </b></p>\r\n<p align=\"center\"><b>(All Fees are quoted in USD\r\nand\r\nPlease note: There are no refunds once a subscription is accepted)</b></p>\r\n<p align=\"center\"><b> </b></p>\r\n<p align=\"center\"><b><span style=\"text-decoration: underline;\">RENEWAL RATES:</span></b></p>\r\n<b>These apply after a full priced subscription has completed:</b>\r\n<p align=\"center\"><b>40 WEEKS (ANNUAL) SUBSCRIPTION: $300.00\r\n(equivalent $7.50 per week) </b></p>\r\n<p align=\"center\"><b>20 WEEKS SUBSCRIPTION: $200.00\r\n(equivalent $10.00 per week) </b></p>\r\n<p align=\"center\"><b>10 WEEKS SUBSCRIPTION: $150.00\r\n(equivalent $15.00 per week) </b></p>\r\n<p align=\"center\"><b>(All Fees are quoted in USD\r\nand\r\nPlease note: There are no refunds once a subscription is accepted)</b></p>\r\n&nbsp;\r\n\r\nIf you like what you have just read. Please click on the “SIGN -UP” link at the top of the welcome page of the WEEKLY FX DRIVE-THRU.\r\n\r\nThe registration is very straightforward to follow all you require is a PayPal account.\r\n\r\nWhen the registration process is complete and, within 24 hours, you will receive an email from me confirming everything and welcoming you onboard so to speak.\r\n\r\nShould you have any queries or encounter problems whilst trying to subscribe please contact me on the following email: -\r\n<p align=\"center\"><b><span style=\"text-decoration: underline;\">premiumservice@weeklyfxdrivethru.com</span></b></p>\r\nI do hope that if you look through the history of my blog posts on the WEEKLY FX DRIVE-THRU you will see that I do have a relevance to the Forex market and that joining the PREMIUM SERVICE would add value to your trading.\r\n\r\n&nbsp;\r\n\r\n<b><span style=\"text-decoration: underline;\">10. FINAL THOUGHTS:</span></b>\r\n\r\nNot a heavy news item week for me this week, but I still think that the bull / bear battle in equities will continue and that the Ukraine is NOT out of the picture yet. So all in all it should be an interesting week.\r\n\r\nI still think we will be in very difficult trading conditions as the ‘twitchiness’ in the market continues. I actually think that matters will intensify, as we are very stretched.\r\n\r\nBig news on the PREMIUM SERVICE and this will take up a lot of my time this coming week, but I should still have plenty of time to trade. With this final point in mind, trade carefully, exercise good and sound MONEY MANAGEMENT. Always trade using the guidelines set out inside your TRADING PLAN.\r\n\r\nGood luck and be careful with position sizes.\r\n\r\nScott Pickering\r\nThe Pip Accumulator\r\nSaturday March 22nd 2014\r\n\r\nEMAIL / FOLLOW ME AT:\r\npremiumservice@weeklyfxdrivethru.com\r\nTwitter: @pipaccumulator\r\nTwitter: @ThePremService\r\n<span style=\"line-height: 1.5em;\">Google+/scottpickering\r\n</span><span style=\"line-height: 1.5em;\">StockTwits; thepipaccumulator</span>\r\n\r\n&nbsp;','SANCTIONS MY A** - IT’S TOO LITTLE TOO LATE AND PUTIN IS WELL IN CONTROL. HOW DO WE TRADE THIS?','','inherit','open','closed','','3347-revision-v1','','','2014-03-22 07:02:48','2014-03-22 12:02:48','',3347,'https://weeklyfxdrivethru.com/3347-revision-v1/',0,'revision','',0),(3348,1,'2014-03-22 07:00:31','2014-03-22 12:00:31','<p style=\"text-align: left;\" align=\"center\"><b><span style=\"text-decoration: underline;\">1. INTRODUCTION:</span></b></p>\r\nTwo weeks on…a completed trip to Dublin for St Patrick’s Day….copious amounts of Guinness consumed and back to more of the same as it was before I left. Now, I really do not mean to complain, or sound negative; but I am finding this market very challenging. It is what it is, but, give me a break.\r\n\r\nI am above water for this month but it has been a challenge. I re-iterate what I have said before in tweets and recent blogs; if you are a new trader it is not always like this and if you can survive this you can survive anything. The market is not forgiving and just when you think that you have it, it turns on you. It is not normal. If you read the last two or three blogs that I have written I have posted ways to help you survive.\r\n\r\nMoving on...\r\n\r\nJanet Yellen left her mark on the week and the markets took her seriously for 24 hours and then reverted to the WTF, buy on dips mode once again.\r\n\r\nThe Ukraine, which was very serious, has turned into a fiasco in my opinion and it now replicates the scene from the Monty Python movie “The Life of Brian” when “Reg” the leader of the Judean People’s Popular Front decides to take immediate action. In his language that meant lets form a head committee and a sub committee to work on options. Meanwhile it all goes on before his eyes and it’s too little too late. The ECB and Obama have modeled their administrations on “Reg”. Yer man, Putin, is just not playing by the rules…yeah right. The markets appear completely not interested anymore so off we go again pressing higher. Fundamentals count…my a** they don’t.\r\n\r\nThe USD did not die…come back Lazarus. The EUR/USD break to 1.3967 was a false breakout. Maybe tapering will have an effect? In any event false breakouts usually mean the turn back is much stronger. Watch this space.\r\n\r\nOther big news for me is that I have now reached my target subscriber numbers to the PREMIUM SERVICE. As this is NOT about the $$$, I have revised my prices, introduced a “TRY IT &amp; SEE” option for 4 weeks for $20.00. All existing members now known as my “CORE” have had their final subscription dates extended and then some more!\r\n\r\nI am delighted with the impact and the fact that subscribers are worldwide. Soon I will deliver a “DAILY POST” for subscribers to the PREMIUM SERVICE direct to the website daily prior to 9.00am EDT. This will be in addition to the protected “Twitter” feed. The DAILY POST will be trade-set ups only with little supporting information and will vary in size depending upon what interest’s me.\r\nI have a full section later on the PREMIUM SERVICE updates and the web site will be able to accept the new and revised subscriptions from Tuesday morning (hopefully!!) the 25<sup>th</sup> March 2014.\r\n\r\n<b><span style=\"text-decoration: underline;\">2. TRADING SUMMARY:</span></b>\r\n<p align=\"center\"><b><span style=\"text-decoration: underline;\">RADAR, FLASH and FUNDAMENTAL TRADES\r\n</span></b><b><span style=\"text-decoration: underline;\">MARCH 2014 and YEAR to date:</span></b></p>\r\nBelow I show the up to date performances for my various trading styles. Full excel spreadsheets are in the subscriber area of the PREMIUM SERVICE.\r\n<p style=\"text-align: center;\"><b><span style=\"text-decoration: underline;\">RADAR TRADES – MARCH 2014:</span></b></p>\r\n<p align=\"center\"><b><span style=\"text-decoration: underline;\">PROFITS FROM SINGLE LOT COMPLETED RADAR TRADES:</span></b></p>\r\n<p style=\"text-align: center;\"> 1 x MICRO-LOT:\r\n5 trades at $0.10 cents each = $0.50 risk for $8.90 loss.</p>\r\n<p align=\"center\">1 x MINI-LOT:\r\n5 trades at $1.00 each = $5.00 risk for $89.00 loss.</p>\r\n<p align=\"center\"><span style=\"line-height: 1.5em;\">1 x STANDARD LOT:\r\n</span><span style=\"line-height: 1.5em;\">5 trades at $10.00 each = $50.00 risk for $890.00.</span></p>\r\n<p style=\"text-align: center;\"><b></b><b style=\"line-height: 1.5em;\"><span style=\"text-decoration: underline;\">FLASH TRADES – MARCH 2014:\r\n</span></b><b><span style=\"text-decoration: underline;\">PROFITS FROM SINGLE LOT COMPLETED FLASH TRADES:</span></b></p>\r\n<p style=\"text-align: center;\" align=\"center\">1 x MICRO-LOT:\r\n14 trades at $0.10 cents each = $1.40 cents risk for $44.10 profit.</p>\r\n<p align=\"center\">1 x MINI-LOT:\r\n14 trades at $1.00 each = $14.00 risk for $441.00 profit.</p>\r\n<p align=\"center\">1 x STANDARD LOT:\r\n14 trades at $10.00 each = $140.00 risk for $4,410.00 profit.</p>\r\n<p align=\"center\"><b><span style=\"text-decoration: underline;\"> </span></b><b style=\"line-height: 1.5em;\"><span style=\"text-decoration: underline;\">FUNDAMENTAL TRADES – MARCH 2014:\r\n</span></b><b style=\"line-height: 1.5em;\"><span style=\"text-decoration: underline;\">PROFITS FROM SINGLE LOT COMPLETED FUNDAMENTAL TRADES</span></b></p>\r\n<p style=\"text-align: center;\">1 x MICRO-LOT:\r\n0 trades at $0.10 cents each = $0.00 cents risk for $0.00 profit</p>\r\n<p align=\"center\">1 x MINI-LOT:\r\n0 trades at $1.00 each = $0.00 risk for $0.00 profit.</p>\r\n<p align=\"center\"> 1 x STANDARD LOT:\r\n0 trades at $10.00 each = $0.00 risk for $0.00 profit</p>\r\n<p align=\"center\"><b><span style=\"text-decoration: underline;\"> </span></b></p>\r\n<p align=\"center\"><b><span style=\"text-decoration: underline;\">COMBINED FLASH, RADAR AND FUNDAMENTAL TRADES PROFIT PERFORMANCE\r\n</span></b><b><span style=\"text-decoration: underline;\">MARCH 2014…SO FAR:</span></b></p>\r\n<p align=\"center\">TRADING MICRO-LOTS:\r\n19 trades at $0.10 cents each = $1.90 risk for $35.20 profit.</p>\r\n<p align=\"center\">TRADING MINI-LOTS:\r\n19 trades at $1.00 each = $19.00 risk for $352.00 profit.</p>\r\n<p align=\"center\">TRADING STANDARD LOTS:\r\n19 trades at $10.00 each = $190.00 risk for $3,520.00 profit.</p>\r\n<p align=\"center\"><b><span style=\"text-decoration: underline;\">COMBINED FLASH, RADAR AND FUNDAMENTAL TRADES PROFIT PERFORMANCE\r\n</span></b><b><span style=\"text-decoration: underline;\">TOTAL 2014…SO FAR:</span></b></p>\r\n<p align=\"center\">TRADING MICRO-LOTS:\r\n128 trades at $0.10 cents each = $12.80 risk for $213.50 profit.</p>\r\n<p align=\"center\">TRADING MINI-LOTS:\r\n128 trades at $1.00 each = $128.00 risk for $2,135.00 profit.</p>\r\n<p align=\"center\">TRADING STANDARD LOTS:\r\n128 trades at $10.00 each = $1,280.00 risk for $21,350.00 profit.</p>\r\nThe above examples are for illustration purposes only:\r\n\r\nThe profitability examples detailed above are based solely upon single lot trading, regardless of lot type. If multiple lot sizes are traded the profitability margins will be different than those shown.\r\n\r\nJust to provide more information so you understand where I am coming from with the risk / reward statements above. All of my trades are of different sizes and different size lot types. The above does not reflect the actual trading performance. I like to add to trades, profits are taken as the trade progresses and my overall cost average moves several times. All of my trades are of different lot styles. I trade a mixture of micro lots, mini lots and standard lots across my brokers.\r\n\r\nThe above results simply display your profit or loss if you placed a single lot trade on all the set-ups suggested and did nothing else.\r\n\r\n&nbsp;\r\n\r\n<b><span style=\"text-decoration: underline;\">3. THE FUNDAMENTAL TRADERS OVERVIEW:</span></b><b style=\"line-height: 1.5em;\"> </b>\r\n<p align=\"center\"><b>SANCTIONS MY A** - IT’S TOO LITTLE TOO LATE AND PUTIN IS WELL IN CONTROL.\r\n</b><b>HOW DO WE TRADE THIS?</b><b style=\"line-height: 1.5em;\"> </b></p>\r\nSo before my trip to Dublin, the Ukraine issues were front and centre, sanctions were being talked about in Washington and Brussels.\r\n\r\nI am not going to write a long piece about the Crimea and its importance to Moscow militarily for it’s fleet of navel ships, being that it contains a very deep- water port. Common sense in the west would have realized that this would NOT be handed over to a regime influenced by NATO. Hence I think, we have been playing a game, because lets get serious, these sanctions are a joke. The tit for tat approach between Moscow and Washington on banning individuals from entry to countries, is complete and utter boll***s.\r\n\r\nThe French, (who are always good for a laugh on Foreign Policy), telling Putin that they may not ship two warships to Russia because of the escalating Crimea situation. Jesus, if I were Putin I’d cancel the f*cking deal, he doesn’t need the ships anyway and that would hurt France more. Then there’s the French arguing with the UK over Russian “Oligarchs” in London living in substantial properties and their children being educated in UK private schools.\r\n\r\nFor God’s sake all Putin has to do is cut off the gas supply to Germany and that’s it.\r\n<p style=\"text-align: center;\"><em>Putin has all the aces in his hand.</em></p>\r\n<p style=\"text-align: center;\"><em>The sanctions in place, do they help the Ukraine – NO.</em></p>\r\n<p style=\"text-align: center;\"><em>Are these bluffs from Obama and Hollande and the EU easily seen – YES.</em></p>\r\n<p style=\"text-align: center;\"><em>Would more sanctions on trade help? – NO.</em></p>\r\nAll of the sanctions that have been causing unrest in the area so far have achieved little or nothing, in fact all they have done is massage the ego’s of a few numpty politicians….all this for ego’s!\r\n\r\nCommon sense has to prevail soon. The west knows that Putin <b>could not and</b> <b>would NOT</b> give up his naval bases. It would be suicide from his perspective. I am not saying that I agree with how this has happened but that is the high level view.\r\n\r\nI hate to write this but I think the common sense in this situation will come from Angela Merkel as the Germans are so reliant on the pipeline of natural gas pumping. Putin knows this and that is why he is sitting in Moscow playing the organ grinder, while, the monkey’s dance around.\r\n\r\nLets face facts, before the west could get up off it\'s a** and sort out what they were going to do, Putin organized a referendum (of sorts) had a vote, had it counted and had the paperwork signed in Moscow taking control of the Crimea. In that time the EZ were still debating Brie or Camembert for the cheese and Sauvignon Blanc or Chablis for the white and Pinot Noir or Bordeaux for the red. They were also waiting on the EZ can provider to come up with a can for kicking!\r\n\r\nGive me a break. The west’s response was muted because they knew what was at stake for Moscow but they never actually could politically say we have to let the Crimea pass title.\r\n\r\nMoving on to the trading aspect.\r\n\r\nIf Putin has designs on other parts of the Ukraine I do think that the story will unfold a little differently gas or no gas supply to the EZ.\r\n\r\nThe EUR/USD is trading very heavily and whilst it is in the range of 1.3720 to 1.3970, I would apply caution. It is a 270 pip trading range, whilst I think we had a false breakout to the highs we have NOT sold off the way that I would have thought given the fact we had a false breakout.\r\n\r\nMy trading ideas for the EUR/USD would be sell into strengths and buy on dips within mini ranges inside the 270 pip overall range. For example 1.3775 to 1.3808 is a range within the range. Its only 33 pips, but it pretty well contained the EUR/USD yesterday (Friday).\r\n\r\nThe EUR/USD is waiting for news to move it. I suggest not trading it until you get a momentum trade going.\r\n\r\nLook at other pairs preferably non USD related as USD traded pairs would be affected by Ukraine news:\r\n\r\nEUR/GBP\r\nAUD/JPY\r\n\r\nThese are two pairs that spring to mind. In any event do not get “gun-ho” with trading big lot/position sizes as you will get shot down unless you are very lucky. Volatility is ahead because I fear that the Ukraine news is far from over.\r\n\r\n&nbsp;\r\n\r\n<b><span style=\"text-decoration: underline;\">4. TRADER TOPICS:</span></b>\r\n<p align=\"center\"><span style=\"font-size: 14px;\"><b><span style=\"text-decoration: underline;\">MANAGING RISK:</span></b></span></p>\r\nI write a lot in the blogs and on twitter about MONEY / RISK MANAGEMENT and using proper MONEY MANAGEMENT and ACCOUNT MANAGEMENT controls.\r\n\r\nThe amount as a rough rule of thumb to predetermine the maximum percentage of total account equity that one is prepared to risk per trade is between 0.5% and 1.0%\r\n\r\nThis discipline has two big benefits:\r\n\r\nFirstly, it prevents “heavy / big losses” occurring from any single trade since the size of each position would be adjusted to fit within the maximum % risk of total equity that you have listed in your TRADING PLAN.\r\n\r\nSecondly, this discipline prevents continued “heavy / big losses” during a continued streak of loss making trades. This can happen and it is awful to experience, but if you trade consistently with discipline you prevent your account suffering huge losses that can wipe out your account very quickly.\r\n\r\nFrom your TRADING PLAN, you will already have your risk in pips calculated and your entry and stop and lot size calculated.\r\n\r\nTRADE EXAMPLE: -\r\n<ol>\r\n	<li>Let’s assume for the purpose of an example that you have already decided in your trade plan that your risk tolerance is 1% of total equity per trade placed. Your account has a balance of $10,000.00.</li>\r\n	<li>This means that your risk = $100.00.The trade in question that you are considering requires at 47pip stop loss to meet the pivot points or Fibonacci levels. That will offer support to the trade and in accordance with you TRADING PLAN these are your trading parameters.</li>\r\n	<li>Trading Standard lots = 47pips x $10.00 = $470.00 – this trade is not possible within your TRADING PLAN guidelines.</li>\r\n	<li>What do you do next? The great flexibility for Forex trading is that you can adjust your trade size to fit the risk. There are three values to the three lot sizes available.\r\n<span style=\"line-height: 1.5em;\">Standard Lots at $10.00 each\r\n</span><span style=\"line-height: 1.5em;\">Mini Lots at $1.00 each\r\n</span><span style=\"line-height: 1.5em;\">Micro Lots at $0.10 cents each\r\n</span></li>\r\n	<li>Instead of approaching this trade with Standard lots, look at the lot size lower. Trading Mini lots at a value of $1.00 each gives you the following opportunity: ($100 / 47 = 2.12 lots maximum to meet your risk tolerance of $200 for this trade example)</li>\r\n</ol>\r\nTherefore if you take this trade with 2 x Mini lots your maximum risk based on a 47 pip stop is 2 x 47 =  $94.00 (under the 2% / $100 risk tolerance as per your TRADING PLAN).\r\n\r\n<b>(In the coming weeks in the PREMIUM SERVICE blog…this example will be expanded, as I will write about the benefits of a multi broker approach to trading)</b>\r\n\r\nThe decision whether to enter a trade becomes a simple question of the risk-to-reward ratio. As I have written many times, before I enter a trade I know what my risk is first before I even place the trade with my broker.\r\n\r\nMany traders will write a “winning percentage”, I hate the terms winning and losing. Trading is not similar to being in Las Vegas. You are a RISK ASSESSOR, you have loss making trades and you have profitable trades, it is NOT gambling like sitting at a roulette table in Las Vegas.\r\n\r\nNow, please do not misunderstand me, your percentage of profitable trades is important to know, but it is NOT an indicator of how good your trading strategy is. Strategy defines success, and success equals $$$$. Using percentages to define success or failure in trading can make you focus on recent trades only. You could lose sight of the big picture, and this could lead to overconfidence and deviation from your TRADING PLAN and, the strict discipline guidelines and this could lead to “revenge” or “desperation” trades.\r\n\r\nLonger-term traders can run the risk of developing the rather destructive habit of wanting to be right rather than being successful. To this end, many traders will take profits off the table early to be right and achieve a profitable trade rather than letting a profitable trade run. This habit can also lead to letting loss-making trades run too far away, you move stops and break your TRADING PLAN guidelines for trading.\r\n\r\nIn my book, there is only one way to truly measure trading success and that sustained profitability.\r\n\r\nThis is why having a TRADING PLAN detailing a RISK AND ACCOUNT MANAGEMENT plan with discipline is an absolute essential part of any successful trading strategy, without one, in my opinion sustained profitability is virtually impossible.\r\n\r\n<b> </b>\r\n\r\n<b><span style=\"text-decoration: underline;\">5. MY CURRENT LIVE TRADES:</span></b>\r\n\r\n<b><span style=\"text-decoration: underline;\">FLASH TRADES:</span></b>\r\n\r\nFT37\r\nEUR/AUD (This trade is hedged from -150 pips)\r\nLongCost Average: 1.5419\r\nStop Loss: 1.4900\r\nLimit / Target: 1.7400\r\nMy Position Size: 7.50%\r\nClosing Weekly Position: 1.5183\r\n<span style=\"line-height: 1.5em;\">My present Profit / Loss position: - 236 pips</span>\r\n\r\nFT61\r\nUSD/CAD\r\nLong\r\nCost Average: 1.1215\r\nStop Loss: 1.1160\r\nLimit/Target: 1.1600\r\nMy Position Size: 20%\r\nClosing Weekly Position: 1.1220\r\nMy Present Profit / Loss Position: + 8 pips\r\n\r\nFT63\r\nGBP/USD\r\nShort\r\nCost Average: 1.6500\r\nStop Loss: 1.6570\r\nLimit/Target: 1.6350\r\nMy Position Size: 20%\r\nClosing Weekly Position: 1.6485\r\nMy Present Profit / Loss Position: +15 pips<b></b>\r\n\r\n<b><span style=\"text-decoration: underline;\"> </span></b>\r\n\r\n<b><span style=\"text-decoration: underline;\">RADAR TRADES:</span></b>\r\n\r\nI have no LIVE RADAR trades at the moment.\r\n\r\n&nbsp;\r\n\r\n<b><span style=\"text-decoration: underline;\">FUNDAMENTAL TRADES:</span></b>\r\n\r\nI am still keeping these trades as my losses are hedged and are net not increasing. It is just the overnight swap rates that will cause me an issue soon if these pairs do not reverse direction.\r\n\r\nFUN13 (This trade is hedged from -150 pips)\r\nEUR/NZD\r\nLong\r\nCost Average: 1.6450\r\nStop Loss: 1.6000\r\nLimit / Target: 1.9000\r\nMy Position Size: 7.5%\r\nClosing Weekly Position: 1.6151\r\n<span style=\"line-height: 1.5em;\">My present Profit/Loss position: -299</span>\r\n\r\nFUN14 (This trade is hedged from -150 pips)\r\nGBP/NZD\r\nLong\r\nCost Average: 1.9950\r\nStop Loss: 1.9000\r\nLimit / Target: 2.2350\r\nMy Position Size: 7.5%\r\nClosing Weekly Position: 1.9305\r\n<span style=\"line-height: 1.5em;\">My present Profit/Loss position: -645 pips</span>\r\n\r\n&nbsp;\r\n\r\n<b><span style=\"text-decoration: underline;\">6. TRADES THAT ARE ON MY RADAR:</span></b>\r\n\r\nThe following trade set-ups are on my radar and although they may be some way away from triggering an entry these are my trading ideas for the next week. I currently have 5 live trades at this present time and my goal will be more FLASH TRADE focused than longer term trades at the moment but having said that these are the trades and the levels that I am looking at. It is your decision if you mirror these trades:\r\n\r\nEUR/AUD\r\nLong\r\nLimit order entry: 1.5150\r\nStop Loss: 1.4900\r\n<span style=\"line-height: 1.5em;\">Limit: 1.7400</span>\r\n\r\nGBP/AUD\r\nLong\r\nLimit order entry: 1.7750\r\nStop Loss: 1.7450\r\n<span style=\"line-height: 1.5em;\">Limit: 1.9215</span>\r\n\r\nEUR/CAD\r\nLong\r\nLimit order entry: 1.5450\r\nStop Loss: 1.5000\r\n<span style=\"line-height: 1.5em;\">Limit: 1.6230</span>\r\n\r\nGBP/CAD\r\nLong\r\nLimit order entry: 1.8450\r\nStop Loss: 1.8150\r\n<span style=\"line-height: 1.5em;\">Limit: 2.020</span>\r\n\r\nNZD/USD\r\nShort\r\nLimit order entry: 0.8635\r\nStop Loss: 0.8680\r\n<span style=\"line-height: 1.5em;\">Limit: 0.8340</span>\r\n\r\nAUD/USD\r\nShort\r\nLimit order entry: 0.9140\r\nStop Loss: 0.9280\r\n<span style=\"line-height: 1.5em;\">Limit: 0.8830</span>\r\n\r\nI am also looking to add long to my EUR/NZD and GBP/NZD trades at slightly lower levels this would if these trades swung back to the long side negate ALL losses. I will tweet about these during the week if they come into play.\r\n\r\nDue to severe losses on JPY pairs a while ago I have been staying away from these but I have been watching and dummy trading these pairs in the background recently and I will start offering trades on these pairs soon\r\n\r\nI have ideas on EUR/GBP and AUD/NZD but these are way too far away to write down at this stage.\r\n\r\n<b><span style=\"text-decoration: underline;\"> </span></b>\r\n\r\n<b><span style=\"text-decoration: underline;\">7. LOOKING FORWARD…THE KEY SUPPORT &amp; RESISTANCE LEVELS WITH THE USD MAJORS:</span></b>\r\n\r\n<b>EUR/USD: Closing Price 1.3793.</b>  I am looking at the EUR/USD as being a false breakout, however the EUR/USD is still close to breakout territory. The next few sessions should determine whether this pair is going higher or we topped at 1.3967. I do not think that the USD is out of the woods yet, but it is getting there and I am tempted to nibble with the pullback strategy with this pair over the coming sessions. The range is simple, but large 1.3720 to 1.3970\r\n\r\n<b>GBP/USD: Closing Price 1.6485. </b>In the past week or so we had a big fall back for cable. We are playing out a measured move double top around 1.6780, which should take us lower to 1.6340. 1.6465 is a big support going lower and 1.6570 should offer good resistance in the other direction.\r\n\r\n<b>AUD/USD: Closing Price 0.9079</b>. I am ready to short the pants off this pair; just get me the entry price of 0.9140, or as close to as possible. The range for me is 0.9000 to 0.9140\r\n\r\n<b>NZD/USD: Closing Price 0.8531</b>.  Some bad GDP data from New Zealand during the past week has put a stop to the grind higher. My question is are we consolidating to move higher or ready to fall? The key level of 0.8500 support needs to be taken for the bears and 0.8575 resistance for the bulls to watch.\r\n\r\n<b>USD/CAD: Closing Price 1.1220.</b> The USD/CAD strengthened like crazy yesterday (Friday) on good economic data that once again appeared to be leaked, it is so damn annoying and totally illegal if it is happening. The range of 1.1150 to 1.1315 is in play.\r\n\r\n<b>USD/CHF: Closing Price 0.8828</b>. I am little hesitant to trade this pair given the links and tensions to the Ukraine. The safety play is always in the back of my mind. Having just written that perhaps it would be a great long from around 0.8500…dream on. The present range is from 0.8800 to 0.8870.\r\n\r\n<b>USD/JPY: Closing Price 102.26.  </b>Let me just say the range is 102.00 to 102.80.\r\n\r\n<b> </b>\r\n\r\n<b><span style=\"text-decoration: underline;\">8. MAJOR FOREX NEWS THIS WEEK THAT INTERESTS ME:</span></b>\r\n\r\nSUNDAY: CNY – HSBC Flash Manufacturing PMi.\r\n\r\nMONDAY: EUR – French &amp; German Flash Manufacturing PMi.\r\n\r\nTUESDAY: GBP – CPi\r\n\r\nWEDNESDAY: NZD – Trade Balance.\r\n\r\nTHURSDAY: GBP – Retail Sales.\r\n\r\nFRIDAY: N/A.<b></b>\r\n\r\n&nbsp;\r\n\r\n<b><span style=\"text-decoration: underline;\">9. THE UPDATED PREMIUM SERVICE DATA:</span></b>\r\n\r\nThe following is a copy of the document that will appear on the welcome page of THE WEEKLY FX DRIVE THRU:\r\n<p align=\"center\"><b><span style=\"text-decoration: underline;\">THE PREMIUM SERVICE   </span></b>\r\n\r\nFirstly, the PREMIUM SERVICE is a subscriber only addition to The WEEKLY FX DRIVE-THRU. The WEEKLY FX DRIVE-THRU is a weekly blog that I started over two years ago. Its aim was to review my thoughts and ideas on the Forex market. I then started to add trade set-ups and write about trades that would be on my mind if certain events took place.\r\n\r\nI started to publish my future trade set-ups, which were predominantly profitable and as I approached my 100<sup>th</sup> blog, I decided that it was time to move to the next stage…. the PREMIUM SERVICE.\r\n\r\nThe PREMIUM SERVICE contains trade-set ups of my various styles of trades that I developed into a successful formula for trading the Forex market with more profitable than losing trades.\r\n\r\nAs a subscriber to the PREMIUM SERVICE, you will receive all my suggested trades whether they are: - FLASH trades, RADAR trades or FUNDAMENTAL trades via an exclusive protected Twitter feed. I give you my thoughts on entry, exit, trade size and what type of lot to trade.\r\n\r\nI do the risk assessment ahead of the trade. You decide whether you want to take the trade and what position size to take.\r\n\r\nIf you trade part-time: with the RADAR TRADE suggestions you simply load a limit order with your broker and the trade will enter and exit automatically, if you use the suggestions I provide, or you can chose your own exit strategy.\r\n\r\n(Full details and definitions of FLASH, RADAR and FUNDAMENTAL trades are inside the secure members area of the PREMIUM SERVICE)\r\n\r\n</p><p align=\"center\"><b>What are the current trading success rates with the PREMIUM SERVICE?</b></p>\r\nFrom my blogs published in December and January the following is an accurate trade by trade set up that was either “Blogged” or “Tweeted” via my twitter account @pipaccumulator (If you want more details please contact me directly via email - my address is at the foot of this document). I have my own history from the past 6 /7 years but it is displayed as below or in excel spread sheets as seen in my blog posts in the WEEKLY FX DRIVE-THRU <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a> and below.\r\n<p align=\"center\"><b><span style=\"text-decoration: underline;\">RADAR, FLASH and FUNDAMENTAL TRADES</span></b></p>\r\n<p align=\"center\"><b><span style=\"text-decoration: underline;\">FEBRUARY 2014 and YEAR to date:</span></b></p>\r\nBelow I show the up to date performances for my various trading styles. Full excel spreadsheets are in the subscriber area of the PREMIUM SERVICE.\r\n<p style=\"text-align: center;\"><b><span style=\"text-decoration: underline;\">RADAR TRADES – FEBRUARY 2014:\r\n</span></b><b style=\"line-height: 1.5em;\"><span style=\"text-decoration: underline;\">PROFITS FROM SINGLE LOT COMPLETED RADAR TRADES:</span></b></p>\r\n<p align=\"center\">1 x MICRO-LOT:\r\n14 trades at $0.10 cents each = $1.40 risk for $18.80 profit.</p>\r\n<p align=\"center\">1 x MINI-LOT:\r\n14 trades at $1.00 each = $14.00 risk for $188.00 profit.</p>\r\n<p align=\"center\">1 x STANDARD LOT:\r\n14 trades at $10.00 each = $140.00 risk for $1,880.00 profit.</p>\r\n<p style=\"text-align: center;\"><b><span style=\"text-decoration: underline;\"> </span></b><b><span style=\"text-decoration: underline;\">FLASH TRADES – FEBRUARY 2014:\r\n</span></b><b><span style=\"text-decoration: underline;\">PROFITS FROM SINGLE LOT COMPLETED FLASH TRADES:</span></b></p>\r\n<p align=\"center\">1 x MICRO-LOT:</p>\r\n<p align=\"center\">28 trades at $0.10 cents each = $2.80 cents risk for $65.50 profit.</p>\r\n<p align=\"center\">1 x MINI-LOT:</p>\r\n<p align=\"center\">28 trades at $1.00 each = $28.00 risk for $655.00 profit.</p>\r\n<p align=\"center\">1 x STANDARD LOT:</p>\r\n<p align=\"center\">28 trades at $10.00 each = $280.00 risk for $6,550.00 profit.</p>\r\n<p style=\"text-align: center;\"><b><span style=\"text-decoration: underline;\">FUNDAMENTAL TRADES – FEBRUARY 2014:\r\n</span></b><b style=\"line-height: 1.5em;\"><span style=\"text-decoration: underline;\">PROFITS FROM SINGLE LOT COMPLETED FUNDAMENTAL TRADES:</span></b></p>\r\n<p align=\"center\">1 x MICRO-LOT:\r\n20 trades at $0.10 cents each = $2.00 cents risk for $15.50 profit</p>\r\n<p align=\"center\">1 x MINI-LOT:\r\n20 trades at $1.00 each = $20.00 risk for $155.00 profit.</p>\r\n<p align=\"center\">1 x STANDARD LOT:\r\n20 trades at $10.00 each = $200.00 risk for $1,550.00 profit</p>\r\n<b><span style=\"text-decoration: underline;\"> </span></b>\r\n<p align=\"center\"><b><span style=\"text-decoration: underline;\">COMBINED FLASH, RADAR AND FUNDAMENTAL TRADES PROFIT PERFORMANCE</span></b></p>\r\n<p align=\"center\"><b><span style=\"text-decoration: underline;\">FEBRUARY 2014</span></b></p>\r\n<p align=\"center\">TRADING MICRO-LOTS:\r\n62 trades at $0.10 cents each = $6.20 risk for $99.80 profit.</p>\r\n<p align=\"center\">TRADING MINI-LOTS:\r\n62 trades at $1.00 each = $62.00 risk for $998.00 profit.</p>\r\n<p align=\"center\">TRADING STANDARD LOTS:\r\n62 trades at $10.00 each = $620.00 risk for $9,980.00 profit.</p>\r\n<p align=\"center\"><b><span style=\"text-decoration: underline;\"> </span></b></p>\r\n<p align=\"center\"><b><span style=\"text-decoration: underline;\">COMBINED FLASH, RADAR AND FUNDAMENTAL TRADES PROFIT PERFORMANCE</span></b></p>\r\n<p align=\"center\"><b><span style=\"text-decoration: underline;\">YEAR TO DATE JAN &amp; FEB - 2014:</span></b></p>\r\n<p align=\"center\">TRADING MICRO-LOTS:\r\n109 trades at $0.10 cents each = $10.90 risk for $178.30 profit.</p>\r\n<p align=\"center\"> TRADING MINI-LOTS:\r\n109 trades at $1.00 each = $109.00 risk for $1,783.00 profit.</p>\r\n<p align=\"center\">TRADING STANDARD LOTS:\r\n109 trades at $10.00 each = $1,090.00 risk for $17,830 profit.</p>\r\nIf you go to <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a> and check back over the past 8/9 posts you can see very clearly the growth week by week to give this total.\r\n\r\nI am NOT saying that this can be expected every month because I am a cautious trader.\r\n\r\nHowever, I do trade currencies to make money.\r\n\r\nWhilst I like the idea of longer-term trading, if the market looks false to me I will cut profitable trades and bank money. I am not looking for the glory of three/four week trades to show I have nerves of steel to make +300 pips or so. If I can make 300 pips from three or four 24/48 hour trades instead, who cares? It’s all about banking profits and minimizing risk.\r\n\r\nI will have a balance of intra-day, swing and long term trades. It is your choice to pick what you want to take and what to risk. I am a low-risk very conservative trader.\r\n<p align=\"center\">FUNDAMENTALS MATTER TO ME</p>\r\n<p align=\"center\">I TRADE TO MAKE MONEY…NOT TO PICK TOPS OR BOTTOMS</p>\r\n<p align=\"center\">I TRADE LOW RISK</p>\r\n<p align=\"center\">I DO NOT CHASE MARKETS</p>\r\n<p align=\"center\">I LIKE THE TRADES TO COME TO ME</p>\r\n<p align=\"center\">I AM NOT A GREEDY TRADER</p>\r\n<p align=\"center\">I LIKE TO TRADE MOMENTUMS IN THE DIRECTION OF TRENDS</p>\r\n<p align=\"center\">I USE FIBONACCI LEVELS TO ENTER &amp; EXIT ON MANY TRADES</p>\r\n<p align=\"center\">PLUS</p>\r\n<p align=\"center\">MY TRADING STYLE IS MIXED EVEN WITH THE ABOVE KEY BASICS</p>\r\n<p align=\"center\">I USE THE PULLBACK STRATEGY TO ENTER AND I LIKE SWING AND LONGER-TERM TRADES (WHEN POSSIBLE)</p>\r\n&nbsp;\r\n\r\nThe members area of the website contains not just the comprehensive trading history / journal of trades but it also contains as much support information as I can gather that is of use to help us all trade profitably. As time moves on, the support pages areas will increase so that it becomes a one-stop point of reference for all styles and types of traders regardless of experience.\r\n\r\nI am hoping to have a chat room so that subscribers and myself can chat live about potential live trades. In addition, if the number of participants is economically viable, I will hold webinars on trading issues.\r\n\r\nThe PREMIUM SERVICE will evolve as it moves forward. The Trader support section of the website is growing each week. Essential trading support material from blog posts and from other sources are added to build up what I hope to be an extensive library of information useful to traders of all levels.\r\n\r\n&nbsp;\r\n\r\nWhilst upon first look, it may appear that the Premium Service is directed solely at new traders, or those with intermediate skill levels. Please note this is not my intention. Trading can be lonely, and sometimes it is good to feel that you are part of a team. With this in mind, I am thinking that a “Chat Room” style area would be of benefit to all traders to share ideas and trade set-ups. Plus, whether you are a new trader or an experienced trader it is always good to have a library of information available close at hand.\r\n\r\nWhat are the costs?\r\n\r\nThere will be 40 weekly blogs / issues per year. I will not write in the summer and over Christmas periods. There will be an unlimited amount of Twitter follow-ups to the exclusive subscribers on a Twitter secure feed during the week to review and act upon “FLASH, RADAR and FUNDAMENTAL trades” and issues emanating from previous blogs.\r\n<p align=\"center\"><b><span style=\"text-decoration: underline;\">TRY IT AND SEE DEAL:</span></b></p>\r\n<p align=\"center\"><b>You can try the PREMIUM SERVICE for a nominal $20.00 for 4 weeks membership. </b></p>\r\n<p align=\"center\"><b>You will have a full 100% access to the secure area of the website and the exclusive protected Twitter feed via @ThePremService</b></p>\r\n<p align=\"center\"><b>To try the PREMIUM SERVICE on this special offer you need to go to “SIGN-UP” and follow the instructions by clicking the 4-week option button at the subscription section.</b></p>\r\n<p align=\"center\"><b>At the end of your 4 weeks you can either walk away or subscribe to one of the options below.</b></p>\r\n<p align=\"center\"><b><span style=\"text-decoration: underline;\"> </span></b></p>\r\n<p align=\"center\"><b><span style=\"text-decoration: underline;\">FIRST TIME / INTITIAL SUBSCRIPTION RATES:</span></b></p>\r\n<p align=\"center\"><b>There are three subscription options:</b></p>\r\n<p align=\"center\"><b>40 WEEKS (ANNUAL) SUBSCRIPTION: $400.00\r\n(equivalent $10.00 per week) </b></p>\r\n<p align=\"center\"><b>20 WEEKS SUBSCRIPTION: $250.00\r\n(equivalent $12.50 per week) </b></p>\r\n<p align=\"center\"><b>10 WEEKS SUBSCRIPTION: $150.00\r\n(equivalent $15.00 per week) </b></p>\r\n<p align=\"center\"><b>(All Fees are quoted in USD\r\nand\r\nPlease note: There are no refunds once a subscription is accepted)</b></p>\r\n<p align=\"center\"><b> </b></p>\r\n<p align=\"center\"><b><span style=\"text-decoration: underline;\">RENEWAL RATES:\r\n\r\n</span></b><b>These apply after a full priced subscription has completed:</b></p>\r\n<p align=\"center\"><b>40 WEEKS (ANNUAL) SUBSCRIPTION: $300.00\r\n(equivalent $7.50 per week) </b></p>\r\n<p align=\"center\"><b>20 WEEKS SUBSCRIPTION: $200.00\r\n(equivalent $10.00 per week) </b></p>\r\n<p align=\"center\"><b>10 WEEKS SUBSCRIPTION: $150.00\r\n(equivalent $15.00 per week) </b></p>\r\n<p align=\"center\"><b>(All Fees are quoted in USD\r\nand\r\nPlease note: There are no refunds once a subscription is accepted)</b></p>\r\n&nbsp;\r\n\r\nIf you like what you have just read. Please click on the “SIGN -UP” link at the top of the welcome page of the WEEKLY FX DRIVE-THRU.\r\n\r\nThe registration is very straightforward to follow all you require is a PayPal account.\r\n\r\nWhen the registration process is complete and, within 24 hours, you will receive an email from me confirming everything and welcoming you onboard so to speak.\r\n\r\nShould you have any queries or encounter problems whilst trying to subscribe please contact me on the following email: -\r\n<p align=\"center\"><b><span style=\"text-decoration: underline;\">premiumservice@weeklyfxdrivethru.com</span></b></p>\r\nI do hope that if you look through the history of my blog posts on the WEEKLY FX DRIVE-THRU you will see that I do have a relevance to the Forex market and that joining the PREMIUM SERVICE would add value to your trading.\r\n\r\n&nbsp;\r\n\r\n<b><span style=\"text-decoration: underline;\">10. FINAL THOUGHTS:</span></b>\r\n\r\nNot a heavy news item week for me this week, but I still think that the bull / bear battle in equities will continue and that the Ukraine is NOT out of the picture yet. So all in all it should be an interesting week.\r\n\r\nI still think we will be in very difficult trading conditions as the ‘twitchiness’ in the market continues. I actually think that matters will intensify, as we are very stretched.\r\n\r\nBig news on the PREMIUM SERVICE and this will take up a lot of my time this coming week, but I should still have plenty of time to trade. With this final point in mind, trade carefully, exercise good and sound MONEY MANAGEMENT. Always trade using the guidelines set out inside your TRADING PLAN.\r\n\r\nGood luck and be careful with position sizes.\r\n\r\nScott Pickering\r\nThe Pip Accumulator\r\nSaturday March 22nd 2014\r\n\r\nEMAIL / FOLLOW ME AT:\r\npremiumservice@weeklyfxdrivethru.com\r\nTwitter: @pipaccumulator\r\nTwitter: @ThePremService\r\n<span style=\"line-height: 1.5em;\">Google+/scottpickering\r\n</span><span style=\"line-height: 1.5em;\">StockTwits; thepipaccumulator</span>\r\n\r\n&nbsp;','SANCTIONS MY A** - IT’S TOO LITTLE TOO LATE AND PUTIN IS WELL IN CONTROL. HOW DO WE TRADE THIS?','','inherit','open','closed','','3347-revision-v1','','','2014-03-22 07:00:31','2014-03-22 12:00:31','',3347,'https://weeklyfxdrivethru.com/3347-revision-v1/',0,'revision','',0),(3350,1,'2014-03-22 07:25:52','2014-03-22 12:25:52','<p align=\"center\"><b style=\"line-height: 1.5em;\"> </b></p>\r\n<b><span style=\"text-decoration: underline;\">1. INTRODUCTION:</span></b>\r\n\r\nTwo weeks on…a completed trip to Dublin for St Patrick’s Day….copious amounts of Guinness consumed and back to more of the same as it was before I left. Now, I really do not mean to complain, or sound negative; but I am finding this market very challenging. It is what it is, but, give me a break.\r\n\r\nI am above water for this month but it has been a challenge. I re-iterate what I have said before in tweets and recent blogs; if you are a new trader it is not always like this and if you can survive this you can survive anything. The market is not forgiving and just when you think that you have it, it turns on you. It is not normal. If you read the last two or three blogs that I have written I have posted ways to help you survive.\r\n\r\nMoving on…\r\n\r\nJanet Yellen left her mark on the week and the markets took her seriously for 24 hours and then reverted to the WTF, buy on dips mode once again.\r\n\r\nThe Ukraine, which was very serious, has turned into a fiasco in my opinion and it now replicates the scene from the Monty Python movie “The Life of Brian” when “Reg” the leader of the Judean People’s Popular Front decides to take immediate action. In his language that meant lets form a head committee and a sub committee to work on options. Meanwhile it all goes on before his eyes and it’s too little too late. The ECB and Obama have modeled their administrations on “Reg”. Yer man, Putin, is just not playing by the rules…yeah right. The markets appear completely not interested anymore so off we go again pressing higher. Fundamentals count…my a** they don’t.\r\n\r\nThe USD did not die…come back Lazarus. The EUR/USD break to 1.3967 was a false breakout. Maybe tapering will have an effect? In any event false breakouts usually mean the turn back is much stronger. Watch this space.\r\n\r\nOther big news for me is that I have now reached my target subscriber numbers to the PREMIUM SERVICE. As this is NOT about the $$$, I have revised my prices, introduced a “TRY IT &amp; SEE” option for 4 weeks for $20.00. All existing members now known as my “CORE” have had their final subscription dates extended and then some more!\r\n\r\nI am delighted with the impact and the fact that subscribers are worldwide. Soon I will deliver a “DAILY POST” for subscribers to the PREMIUM SERVICE direct to the website daily prior to 9.00am EDT. This will be in addition to the protected “Twitter” feed. The DAILY POST will be trade-set ups only with little supporting information and will vary in size depending upon what interest’s me.\r\nI have a full section later on the PREMIUM SERVICE updates and the web site will be able to accept the new and revised subscriptions from Tuesday morning (hopefully!!) the 25<sup>th</sup> March 2014.\r\n\r\n&nbsp;\r\n\r\n<b><span style=\"text-decoration: underline;\">2. THE VIEW FROM MY TRADERS DESK:</span></b>\r\n<p align=\"center\"><b>SANCTIONS MY A** - IT’S TOO LITTLE TOO LATE AND PUTIN IS WELL IN CONTROL.\r\n</b><b>HOW DO WE TRADE THIS?</b><b style=\"line-height: 1.5em;\"> </b></p>\r\nSo before my trip to Dublin, the Ukraine issues were front and centre, sanctions were being talked about in Washington and Brussels.\r\n\r\nI am not going to write a long piece about the Crimea and its importance to Moscow militarily for it’s fleet of navel ships, being that it contains a very deep- water port. Common sense in the west would have realized that this would NOT be handed over to a regime influenced by NATO. Hence I think, we have been playing a game, because lets get serious, these sanctions are a joke. The tit for tat approach between Moscow and Washington on banning individuals from entry to countries, is complete and utter boll***s.\r\n\r\nThe French, (who are always good for a laugh on Foreign Policy), telling Putin that they may not ship two warships to Russia because of the escalating Crimea situation. Jesus, if I were Putin I’d cancel the f*cking deal, he doesn’t need the ships anyway and that would hurt France more. Then there’s the French arguing with the UK over Russian “Oligarchs” in London living in substantial properties and their children being educated in UK private schools.\r\n\r\nFor God’s sake all Putin has to do is cut off the gas supply to Germany and that’s it.\r\n<p style=\"text-align: center;\"><em>Putin has all the aces in his hand. </em></p>\r\n<p style=\"text-align: center;\"><em>The sanctions in place, do they help the Ukraine – NO.</em></p>\r\n<p style=\"text-align: center;\"><em>Are these bluffs from Obama and Hollande and the EU easily seen – YES.</em></p>\r\n<p style=\"text-align: center;\"><em>Would more sanctions on trade help? – NO.</em><em> </em></p>\r\nAll of the sanctions that have been causing unrest in the area so far have achieved little or nothing, in fact all they have done is massage the ego’s of a few numpty politicians….all this for ego’s!\r\n\r\nCommon sense has to prevail soon. The west knows that Putin <b>could not and</b> <b>would NOT</b> give up his naval bases. It would be suicide from his perspective. I am not saying that I agree with how this has happened but that is the high level view.\r\n\r\nI hate to write this but I think the common sense in this situation will come from Angela Merkel as the Germans are so reliant on the pipeline of natural gas pumping. Putin knows this and that is why he is sitting in Moscow playing the organ grinder, while, the monkey’s dance around.\r\n\r\nLets face facts, before the west could get up off it\'s a** and sort out what they were going to do, Putin organized a referendum (of sorts) had a vote, had it counted and had the paperwork signed in Moscow taking control of the Crimea. In that time the EZ were still debating Brie or Camembert for the cheese and Sauvignon Blanc or Chablis for the white and Pinot Noir or Bordeaux for the red. They were also waiting on the EZ can provider to come up with a can for kicking!\r\n\r\nGive me a break. The west’s response was muted because they knew what was at stake for Moscow but they never actually could politically say we have to let the Crimea pass title.\r\n\r\nMoving on to the trading aspect.\r\n\r\nIf Putin has designs on other parts of the Ukraine I do think that the story will unfold a little differently gas or no gas supply to the EZ.\r\n\r\nThe EUR/USD is trading very heavily and whilst it is in the range of 1.3720 to 1.3970, I would apply caution. It is a 270 pip trading range, whilst I think we had a false breakout to the highs we have NOT sold off the way that I would have thought given the fact we had a false breakout.\r\n\r\nMy trading ideas for the EUR/USD would be sell into strengths and buy on dips within mini ranges inside the 270 pip overall range. For example 1.3775 to 1.3808 is a range within the range. Its only 33 pips, but it pretty well contained the EUR/USD yesterday (Friday).\r\n\r\nThe EUR/USD is waiting for news to move it. I suggest not trading it until you get a momentum trade going.\r\n\r\nLook at other pairs preferably non USD related as USD traded pairs would be affected by Ukraine news:\r\n\r\nEUR/GBP\r\nAUD/JPY\r\n\r\nThese are two pairs that spring to mind. In any event do not get “gun-ho” with trading big lot/position sizes as you will get shot down unless you are very lucky. Volatility is ahead because I fear that the Ukraine news is far from over.\r\n\r\n<b><span style=\"text-decoration: underline;\"> </span></b>\r\n\r\n<b><span style=\"text-decoration: underline;\">3. LOOKING FORWARD…THE KEY SUPPORT &amp; RESISTANCE LEVELS WITH THE USD MAJORS:</span></b><b> </b>\r\n\r\n<b>EUR/USD: Closing Price 1.3793.</b>  I am looking at the EUR/USD as being a false breakout, however the EUR/USD is still close to breakout territory. The next few sessions should determine whether this pair is going higher or we topped at 1.3967. I do not think that the USD is out of the woods yet, but it is getting there and I am tempted to nibble with the pullback strategy with this pair over the coming sessions. The range is simple, but large 1.3720 to 1.3970.\r\n\r\n<b>GBP/USD: Closing Price 1.6485. </b>In the past week or so we had a big fall back for cable. We are playing out a measured move double top around 1.6780, which should take us lower to 1.6340. 1.6465 is a big support going lower and 1.6570 should offer good resistance in the other direction.<b> </b>\r\n\r\n<b>AUD/USD: Closing Price 0.9079</b>. I am ready to short the pants off this pair; just get me the entry price of 0.9140, or as close to as possible. The range for me is 0.9000 to 0.9140\r\n\r\n<b>NZD/USD: Closing Price 0.8531</b>.  Some bad GDP data from New Zealand during the past week has put a stop to the grind higher. My question is are we consolidating to move higher or ready to fall? The key level of 0.8500 support needs to be taken for the bears and 0.8575 resistance for the bulls to watch.\r\n\r\n<b>USD/CAD: Closing Price 1.1220.</b> The USD/CAD strengthened like crazy yesterday (Friday) on good economic data that once again appeared to be leaked, it is so damn annoying and totally illegal if it is happening. The range of 1.1150 to 1.1315 is in play.\r\n\r\n<b>USD/CHF: Closing Price 0.8828</b>. I am little hesitant to trade this pair given the links and tensions to the Ukraine. The safety play is always in the back of my mind. Having just written that perhaps it would be a great long from around 0.8500…dream on. The present range is from 0.8800 to 0.8870.\r\n\r\n<b>USD/JPY: Closing Price 102.26.  </b>Let me just say the range is 102.00 to 102.80.\r\n\r\n&nbsp;\r\n\r\n<b><span style=\"text-decoration: underline;\">4. MAJOR FOREX NEWS THIS WEEK THAT INTERESTS ME:</span></b>\r\n\r\nSUNDAY: CNY – HSBC Flash Manufacturing PMi.\r\n\r\nMONDAY: EUR – French &amp; German Flash Manufacturing PMi.\r\n\r\nTUESDAY: GBP – CPi.\r\n\r\nWEDNESDAY: NZD – Trade Balance.\r\n\r\nTHURSDAY: GBP – Retail Sales.\r\n\r\nFRIDAY: N/A.\r\n\r\n&nbsp;\r\n\r\n<b><span style=\"text-decoration: underline;\">5. THE UPDATED PREMIUM SERVICE DATA:</span></b>\r\n\r\nThe following is a copy of the document that will appear on the welcome page of THE WEEKLY FX DRIVE THRU:\r\n<p align=\"center\"><b><span style=\"text-decoration: underline;\">THE PREMIUM SERVICE   </span></b>\r\n\r\nFirstly, the PREMIUM SERVICE is a subscriber only addition to The WEEKLY FX DRIVE-THRU. The WEEKLY FX DRIVE-THRU is a weekly blog that I started over two years ago. Its aim was to review my thoughts and ideas on the Forex market. I then started to add trade set-ups and write about trades that would be on my mind if certain events took place.\r\n\r\nI started to publish my future trade set-ups, which were predominantly profitable and as I approached my 100<sup>th</sup> blog, I decided that it was time to move to the next stage…. the PREMIUM SERVICE.\r\n\r\nThe PREMIUM SERVICE contains trade-set ups of my various styles of trades that I developed into a successful formula for trading the Forex market with more profitable than losing trades.\r\n\r\nAs a subscriber to the PREMIUM SERVICE, you will receive all my suggested trades whether they are: - FLASH trades, RADAR trades or FUNDAMENTAL trades via an exclusive protected Twitter feed. I give you my thoughts on entry, exit, trade size and what type of lot to trade.\r\n\r\nI do the risk assessment ahead of the trade. You decide whether you want to take the trade and what position size to take.\r\n\r\nIf you trade part-time: with the RADAR TRADE suggestions you simply load a limit order with your broker and the trade will enter and exit automatically, if you use the suggestions I provide, or you can chose your own exit strategy.\r\n\r\n(Full details and definitions of FLASH, RADAR and FUNDAMENTAL trades are inside the secure members area of the PREMIUM SERVICE)\r\n\r\n</p><p align=\"center\"><b>What are the current trading success rates with the PREMIUM SERVICE?</b></p>\r\nFrom my blogs published in December and January the following is an accurate trade by trade set up that was either “Blogged” or “Tweeted” via my twitter account @pipaccumulator (If you want more details please contact me directly via email - my address is at the foot of this document). I have my own history from the past 6 /7 years but it is displayed as below or in excel spread sheets as seen in my blog posts in the WEEKLY FX DRIVE-THRU <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a> and below.\r\n<p align=\"center\"><b><span style=\"text-decoration: underline;\"> </span></b></p>\r\n<p align=\"center\"><b><span style=\"text-decoration: underline;\">RADAR, FLASH and FUNDAMENTAL TRADES</span></b></p>\r\n<p align=\"center\"><b><span style=\"text-decoration: underline;\">FEBRUARY 2014 and YEAR to date:</span></b></p>\r\nBelow I show the up to date performances for my various trading styles. Full excel spreadsheets are in the subscriber area of the PREMIUM SERVICE.\r\n<p style=\"text-align: center;\"><b><span style=\"text-decoration: underline;\">RADAR TRADES – FEBRUARY 2014:\r\n</span></b><b style=\"line-height: 1.5em;\"><span style=\"text-decoration: underline;\">PROFITS FROM SINGLE LOT COMPLETED RADAR TRADES:</span></b></p>\r\n<p style=\"text-align: center;\"> 1 x MICRO-LOT:\r\n14 trades at $0.10 cents each = $1.40 risk for $18.80 profit.</p>\r\n<p align=\"center\">1 x MINI-LOT:\r\n14 trades at $1.00 each = $14.00 risk for $188.00 profit.</p>\r\n<p align=\"center\">1 x STANDARD LOT:\r\n<span style=\"line-height: 1.5em;\">14 trades at $10.00 each = $140.00 risk for $1,880.00 profit.</span></p>\r\n<p style=\"text-align: center;\"><b><span style=\"text-decoration: underline;\">FLASH TRADES – FEBRUARY 2014:\r\n</span></b><b><span style=\"text-decoration: underline;\">PROFITS FROM SINGLE LOT COMPLETED FLASH TRADES:</span></b></p>\r\n<p align=\"center\">1 x MICRO-LOT:\r\n28 trades at $0.10 cents each = $2.80 cents risk for $65.50 profit.</p>\r\n<p align=\"center\">1 x MINI-LOT:\r\n28 trades at $1.00 each = $28.00 risk for $655.00 profit.</p>\r\n<p align=\"center\">1 x STANDARD LOT:\r\n28 trades at $10.00 each = $280.00 risk for $6,550.00 profit.</p>\r\n<b><span style=\"text-decoration: underline;\"> </span></b>\r\n<p style=\"text-align: center;\"><b><span style=\"text-decoration: underline;\">FUNDAMENTAL TRADES – FEBRUARY 2014:\r\n</span></b><b style=\"line-height: 1.5em;\"><span style=\"text-decoration: underline;\">PROFITS FROM SINGLE LOT COMPLETED FUNDAMENTAL TRADES:</span></b></p>\r\n<p align=\"center\">1 x MICRO-LOT:\r\n20 trades at $0.10 cents each = $2.00 cents risk for $15.50 profit</p>\r\n<p align=\"center\">1 x MINI-LOT:\r\n20 trades at $1.00 each = $20.00 risk for $155.00 profit.</p>\r\n<p align=\"center\">1 x STANDARD LOT:\r\n20 trades at $10.00 each = $200.00 risk for $1,550.00 profit</p>\r\n<b><span style=\"text-decoration: underline;\"> </span></b>\r\n<p align=\"center\"><b><span style=\"text-decoration: underline;\">COMBINED FLASH, RADAR AND FUNDAMENTAL TRADES PROFIT PERFORMANCE\r\n</span></b><b><span style=\"text-decoration: underline;\">FEBRUARY 2014</span></b></p>\r\n<p align=\"center\">TRADING MICRO-LOTS:\r\n62 trades at $0.10 cents each = $6.20 risk for $99.80 profit.</p>\r\n<p align=\"center\">TRADING MINI-LOTS:\r\n62 trades at $1.00 each = $62.00 risk for $998.00 profit.</p>\r\n<p align=\"center\">TRADING STANDARD LOTS:\r\n62 trades at $10.00 each = $620.00 risk for $9,980.00 profit.</p>\r\n<p align=\"center\"><b><span style=\"text-decoration: underline;\">COMBINED FLASH, RADAR AND FUNDAMENTAL TRADES PROFIT PERFORMANCE\r\n</span></b><b><span style=\"text-decoration: underline;\">YEAR TO DATE JAN &amp; FEB - 2014:</span></b></p>\r\n<p align=\"center\">TRADING MICRO-LOTS:\r\n109 trades at $0.10 cents each = $10.90 risk for $178.30 profit.</p>\r\n<p align=\"center\">TRADING MINI-LOTS:\r\n109 trades at $1.00 each = $109.00 risk for $1,783.00 profit.</p>\r\n<p align=\"center\">TRADING STANDARD LOTS:\r\n109 trades at $10.00 each = $1,090.00 risk for $17,830 profit.</p>\r\nIf you go to <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a> and check back over the past 8/9 posts you can see very clearly the growth week by week to give this total.\r\n\r\nI am NOT saying that this can be expected every month because I am a cautious trader.\r\n\r\nHowever, I do trade currencies to make money.\r\n\r\nWhilst I like the idea of longer-term trading, if the market looks false to me I will cut profitable trades and bank money. I am not looking for the glory of three/four week trades to show I have nerves of steel to make +300 pips or so. If I can make 300 pips from three or four 24/48 hour trades instead, who cares? It’s all about banking profits and minimizing risk\r\n\r\nI will have a balance of intra-day, swing and long term trades. It is your choice to pick what you want to take and what to risk. I am a low-risk very conservative trader.\r\n<p align=\"center\">FUNDAMENTALS MATTER TO ME</p>\r\n<p align=\"center\">I TRADE TO MAKE MONEY…NOT TO PICK TOPS OR BOTTOMS</p>\r\n<p align=\"center\">I TRADE LOW RISK</p>\r\n<p align=\"center\">I DO NOT CHASE MARKETS</p>\r\n<p align=\"center\">I LIKE THE TRADES TO COME TO ME</p>\r\n<p align=\"center\">I AM NOT A GREEDY TRADER</p>\r\n<p align=\"center\">I LIKE TO TRADE MOMENTUMS IN THE DIRECTION OF TRENDS</p>\r\n<p align=\"center\">I USE FIBONACCI LEVELS TO ENTER &amp; EXIT ON MANY TRADES</p>\r\n<p align=\"center\">PLUS</p>\r\n<p align=\"center\">MY TRADING STYLE IS MIXED EVEN WITH THE ABOVE KEY BASICS</p>\r\n<p align=\"center\">I USE THE PULLBACK STRATEGY TO ENTER AND I LIKE SWING AND LONGER-TERM TRADES (WHEN POSSIBLE</p>\r\nThe members area of the website contains not just the comprehensive trading history / journal of trades but it also contains as much support information as I can gather that is of use to help us all trade profitably. As time moves on, the support pages areas will increase so that it becomes a one-stop point of reference for all styles and types of traders regardless of experience.\r\n\r\nI am hoping to have a chat room so that subscribers and myself can chat live about potential live trades. In addition, if the number of participants is economically viable, I will hold webinars on trading issues.\r\n\r\nThe PREMIUM SERVICE will evolve as it moves forward. The Trader support section of the website is growing each week. Essential trading support material from blog posts and from other sources are added to build up what I hope to be an extensive library of information useful to traders of all levels.\r\n\r\nWhilst upon first look, it may appear that the Premium Service is directed solely at new traders, or those with intermediate skill levels. Please note this is not my intention. Trading can be lonely, and sometimes it is good to feel that you are part of a team. With this in mind, I am thinking that a “Chat Room” style area would be of benefit to all traders to share ideas and trade set-ups. Plus, whether you are a new trader or an experienced trader it is always good to have a library of information available close at hand.\r\n\r\nWhat are the costs?\r\n\r\nThere will be 40 weekly blogs / issues per year. I will not write in the summer and over Christmas periods. There will be an unlimited amount of Twitter follow-ups to the exclusive subscribers on a Twitter secure feed during the week to review and act upon “FLASH, RADAR and FUNDAMENTAL trades” and issues emanating from previous blogs.\r\n<p align=\"center\"><b><span style=\"text-decoration: underline;\">TRY IT AND SEE DEAL:</span></b></p>\r\n<p align=\"center\"><b>You can try the PREMIUM SERVICE for a nominal $20.00 for 4 weeks membership. </b></p>\r\n<p align=\"center\"><b>You will have a full 100% access to the secure area of the website and the exclusive protected Twitter feed via @ThePremService</b></p>\r\n<p align=\"center\"><b>To try the PREMIUM SERVICE on this special offer you need to go to “SIGN-UP” and follow the instructions by clicking the 4-week option button at the subscription section.</b></p>\r\n<p align=\"center\"><b>At the end of your 4 weeks you can either walk away or subscribe to one of the options below.</b></p>\r\n<p align=\"center\"><b><span style=\"text-decoration: underline;\"> </span></b></p>\r\n<p align=\"center\"><b><span style=\"text-decoration: underline;\">FIRST TIME / INITIAL SUBSCRIPTION RATES:</span></b></p>\r\n<p align=\"center\"><b>There are three subscription options:</b></p>\r\n<p align=\"center\"><b>40 WEEKS (ANNUAL) SUBSCRIPTION: $400.00\r\n(equivalent $10.00 per week) </b></p>\r\n<p align=\"center\"><b>20 WEEKS SUBSCRIPTION: $250.00\r\n(equivalent $12.50 per week) </b></p>\r\n<p align=\"center\"><b>10 WEEKS SUBSCRIPTION: $150.00\r\n(equivalent $15.00 per week) </b></p>\r\n<p align=\"center\"><b>(All Fees are quoted in USD\r\nand\r\nPlease note: There are no refunds once a subscription is accepted)</b></p>\r\n<p align=\"center\"><b> </b></p>\r\n<p align=\"center\"><b><span style=\"text-decoration: underline;\">RENEWAL RATES:</span></b></p>\r\n<p style=\"text-align: center;\"><b>These apply after a full priced subscription has completed:</b></p>\r\n<p align=\"center\"><b>40 WEEKS (ANNUAL) SUBSCRIPTION: $300.00\r\n(equivalent $7.50 per week) </b></p>\r\n<p align=\"center\"><b>20 WEEKS SUBSCRIPTION: $200.00\r\n(equivalent $10.00 per week) </b></p>\r\n<p align=\"center\"><b>10 WEEKS SUBSCRIPTION: $150.00\r\n(equivalent $15.00 per week) </b></p>\r\n<p align=\"center\"><b>(All Fees are quoted in USD\r\nand\r\nPlease note: There are no refunds once a subscription is accepted)</b></p>\r\n&nbsp;\r\n\r\nIf you like what you have just read. Please click on the “SIGN -UP” link at the top of the welcome page of the WEEKLY FX DRIVE-THRU.\r\n\r\nThe registration is very straightforward to follow all you require is a PayPal account.\r\n\r\nWhen the registration process is complete and, within 24 hours, you will receive an email from me confirming everything and welcoming you onboard so to speak.\r\n\r\nShould you have any queries or encounter problems whilst trying to subscribe please contact me on the following email: -\r\n<p align=\"center\"><b><span style=\"text-decoration: underline;\">premiumservice@weeklyfxdrivethru.com</span></b></p>\r\nI do hope that if you look through the history of my blog posts on the WEEKLY FX DRIVE-THRU you will see that I do have a relevance to the Forex market and that joining the PREMIUM SERVICE would add value to your trading.\r\n\r\n<b><span style=\"text-decoration: underline;\"> </span></b>\r\n\r\n<b><span style=\"text-decoration: underline;\">6. FINAL THOUGHTS:</span></b>\r\n\r\nNot a heavy news item week for me this week, but I still think that the bull / bear battle in equities will continue and that the Ukraine is NOT out of the picture yet. So all in all it should be an interesting week.\r\n\r\nI still think we will be in very difficult trading conditions as the ‘twitchiness’ in the market continues. I actually think that matters will intensify, as we are very stretched.\r\n\r\nBig news on the PREMIUM SERVICE and this will take up a lot of my time this coming week, but I should still have plenty of time to trade. With this final point in mind, trade carefully, exercise good and sound MONEY MANAGEMENT. Always trade using the guidelines set out inside your TRADING PLAN.\r\n\r\nGood luck and be careful with position sizes.\r\n\r\nScott Pickering\r\nThe Pip Accumulator\r\nSaturday March 22nd 2014\r\n\r\nEMAIL / FOLLOW ME AT:\r\ndrivethru@weeklyfxdrivethru.com\r\nTwitter: @pipaccumulator\r\nGoogle+/scottpickering\r\nStockTwits; thepipaccumulator\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n&nbsp;','SANCTIONS MY A** - IT’S TOO LITTLE TOO LATE AND PUTIN IS WELL IN CONTROL. HOW DO WE TRADE THIS?','','publish','open','closed','','sanctions-little-late-putin-well-control-trade','','','2014-03-22 07:25:52','2014-03-22 12:25:52','',0,'https://weeklyfxdrivethru.com/?p=3350',0,'post','',0),(3351,1,'2014-03-22 07:24:02','2014-03-22 12:24:02','<p align=\"center\"><b style=\"line-height: 1.5em;\"> </b></p>\r\n<b><span style=\"text-decoration: underline;\">1. INTRODUCTION:</span></b>\r\n\r\nTwo weeks on…a completed trip to Dublin for St Patrick’s Day….copious amounts of Guinness consumed and back to more of the same as it was before I left. Now, I really do not mean to complain, or sound negative; but I am finding this market very challenging. It is what it is, but, give me a break.\r\n\r\nI am above water for this month but it has been a challenge. I re-iterate what I have said before in tweets and recent blogs; if you are a new trader it is not always like this and if you can survive this you can survive anything. The market is not forgiving and just when you think that you have it, it turns on you. It is not normal. If you read the last two or three blogs that I have written I have posted ways to help you survive.\r\n\r\nMoving on…\r\n\r\nJanet Yellen left her mark on the week and the markets took her seriously for 24 hours and then reverted to the WTF, buy on dips mode once again.\r\n\r\nThe Ukraine, which was very serious, has turned into a fiasco in my opinion and it now replicates the scene from the Monty Python movie “The Life of Brian” when “Reg” the leader of the Judean People’s Popular Front decides to take immediate action. In his language that meant lets form a head committee and a sub committee to work on options. Meanwhile it all goes on before his eyes and it’s too little too late. The ECB and Obama have modeled their administrations on “Reg”. Yer man, Putin, is just not playing by the rules…yeah right. The markets appear completely not interested anymore so off we go again pressing higher. Fundamentals count…my a** they don’t.\r\n\r\nThe USD did not die…come back Lazarus. The EUR/USD break to 1.3967 was a false breakout. Maybe tapering will have an effect? In any event false breakouts usually mean the turn back is much stronger. Watch this space.\r\n\r\nOther big news for me is that I have now reached my target subscriber numbers to the PREMIUM SERVICE. As this is NOT about the $$$, I have revised my prices, introduced a “TRY IT &amp; SEE” option for 4 weeks for $20.00. All existing members now known as my “CORE” have had their final subscription dates extended and then some more!\r\n\r\nI am delighted with the impact and the fact that subscribers are worldwide. Soon I will deliver a “DAILY POST” for subscribers to the PREMIUM SERVICE direct to the website daily prior to 9.00am EDT. This will be in addition to the protected “Twitter” feed. The DAILY POST will be trade-set ups only with little supporting information and will vary in size depending upon what interest’s me.\r\nI have a full section later on the PREMIUM SERVICE updates and the web site will be able to accept the new and revised subscriptions from Tuesday morning (hopefully!!) the 25<sup>th</sup> March 2014.\r\n\r\n&nbsp;\r\n\r\n<b><span style=\"text-decoration: underline;\">2. THE VIEW FROM MY TRADERS DESK:</span></b>\r\n<p align=\"center\"><b>SANCTIONS MY A** - IT’S TOO LITTLE TOO LATE AND PUTIN IS WELL IN CONTROL.\r\n</b><b>HOW DO WE TRADE THIS?</b><b style=\"line-height: 1.5em;\"> </b></p>\r\nSo before my trip to Dublin, the Ukraine issues were front and centre, sanctions were being talked about in Washington and Brussels.\r\n\r\nI am not going to write a long piece about the Crimea and its importance to Moscow militarily for it’s fleet of navel ships, being that it contains a very deep- water port. Common sense in the west would have realized that this would NOT be handed over to a regime influenced by NATO. Hence I think, we have been playing a game, because lets get serious, these sanctions are a joke. The tit for tat approach between Moscow and Washington on banning individuals from entry to countries, is complete and utter boll***s.\r\n\r\nThe French, (who are always good for a laugh on Foreign Policy), telling Putin that they may not ship two warships to Russia because of the escalating Crimea situation. Jesus, if I were Putin I’d cancel the f*cking deal, he doesn’t need the ships anyway and that would hurt France more. Then there’s the French arguing with the UK over Russian “Oligarchs” in London living in substantial properties and their children being educated in UK private schools.\r\n\r\nFor God’s sake all Putin has to do is cut off the gas supply to Germany and that’s it.\r\n<p style=\"text-align: center;\"><em>Putin has all the aces in his hand. </em></p>\r\n<p style=\"text-align: center;\"><em>The sanctions in place, do they help the Ukraine – NO.</em></p>\r\n<p style=\"text-align: center;\"><em>Are these bluffs from Obama and Hollande and the EU easily seen – YES.</em></p>\r\n<p style=\"text-align: center;\"><em>Would more sanctions on trade help? – NO.</em><em> </em></p>\r\nAll of the sanctions that have been causing unrest in the area so far have achieved little or nothing, in fact all they have done is massage the ego’s of a few numpty politicians….all this for ego’s!\r\n\r\nCommon sense has to prevail soon. The west knows that Putin <b>could not and</b> <b>would NOT</b> give up his naval bases. It would be suicide from his perspective. I am not saying that I agree with how this has happened but that is the high level view.\r\n\r\nI hate to write this but I think the common sense in this situation will come from Angela Merkel as the Germans are so reliant on the pipeline of natural gas pumping. Putin knows this and that is why he is sitting in Moscow playing the organ grinder, while, the monkey’s dance around.\r\n\r\nLets face facts, before the west could get up off it\'s a** and sort out what they were going to do, Putin organized a referendum (of sorts) had a vote, had it counted and had the paperwork signed in Moscow taking control of the Crimea. In that time the EZ were still debating Brie or Camembert for the cheese and Sauvignon Blanc or Chablis for the white and Pinot Noir or Bordeaux for the red. They were also waiting on the EZ can provider to come up with a can for kicking!\r\n\r\nGive me a break. The west’s response was muted because they knew what was at stake for Moscow but they never actually could politically say we have to let the Crimea pass title.\r\n\r\nMoving on to the trading aspect.\r\n\r\nIf Putin has designs on other parts of the Ukraine I do think that the story will unfold a little differently gas or no gas supply to the EZ.\r\n\r\nThe EUR/USD is trading very heavily and whilst it is in the range of 1.3720 to 1.3970, I would apply caution. It is a 270 pip trading range, whilst I think we had a false breakout to the highs we have NOT sold off the way that I would have thought given the fact we had a false breakout.\r\n\r\nMy trading ideas for the EUR/USD would be sell into strengths and buy on dips within mini ranges inside the 270 pip overall range. For example 1.3775 to 1.3808 is a range within the range. Its only 33 pips, but it pretty well contained the EUR/USD yesterday (Friday).\r\n\r\nThe EUR/USD is waiting for news to move it. I suggest not trading it until you get a momentum trade going.\r\n\r\nLook at other pairs preferably non USD related as USD traded pairs would be affected by Ukraine news:\r\n\r\nEUR/GBP\r\nAUD/JPY\r\n\r\nThese are two pairs that spring to mind. In any event do not get “gun-ho” with trading big lot/position sizes as you will get shot down unless you are very lucky. Volatility is ahead because I fear that the Ukraine news is far from over.\r\n\r\n<b><span style=\"text-decoration: underline;\"> </span></b>\r\n\r\n<b><span style=\"text-decoration: underline;\">3. LOOKING FORWARD…THE KEY SUPPORT &amp; RESISTANCE LEVELS WITH THE USD MAJORS:</span></b><b> </b>\r\n\r\n<b>EUR/USD: Closing Price 1.3793.</b>  I am looking at the EUR/USD as being a false breakout, however the EUR/USD is still close to breakout territory. The next few sessions should determine whether this pair is going higher or we topped at 1.3967. I do not think that the USD is out of the woods yet, but it is getting there and I am tempted to nibble with the pullback strategy with this pair over the coming sessions. The range is simple, but large 1.3720 to 1.3970.\r\n\r\n<b>GBP/USD: Closing Price 1.6485. </b>In the past week or so we had a big fall back for cable. We are playing out a measured move double top around 1.6780, which should take us lower to 1.6340. 1.6465 is a big support going lower and 1.6570 should offer good resistance in the other direction.<b> </b>\r\n\r\n<b>AUD/USD: Closing Price 0.9079</b>. I am ready to short the pants off this pair; just get me the entry price of 0.9140, or as close to as possible. The range for me is 0.9000 to 0.9140\r\n\r\n<b>NZD/USD: Closing Price 0.8531</b>.  Some bad GDP data from New Zealand during the past week has put a stop to the grind higher. My question is are we consolidating to move higher or ready to fall? The key level of 0.8500 support needs to be taken for the bears and 0.8575 resistance for the bulls to watch.\r\n\r\n<b>USD/CAD: Closing Price 1.1220.</b> The USD/CAD strengthened like crazy yesterday (Friday) on good economic data that once again appeared to be leaked, it is so damn annoying and totally illegal if it is happening. The range of 1.1150 to 1.1315 is in play.\r\n\r\n<b>USD/CHF: Closing Price 0.8828</b>. I am little hesitant to trade this pair given the links and tensions to the Ukraine. The safety play is always in the back of my mind. Having just written that perhaps it would be a great long from around 0.8500…dream on. The present range is from 0.8800 to 0.8870.\r\n\r\n<b>USD/JPY: Closing Price 102.26.  </b>Let me just say the range is 102.00 to 102.80.\r\n\r\n&nbsp;\r\n\r\n<b><span style=\"text-decoration: underline;\">4. MAJOR FOREX NEWS THIS WEEK THAT INTERESTS ME:</span></b>\r\n\r\nSUNDAY: CNY – HSBC Flash Manufacturing PMi.\r\n\r\nMONDAY: EUR – French &amp; German Flash Manufacturing PMi.\r\n\r\nTUESDAY: GBP – CPi.\r\n\r\nWEDNESDAY: NZD – Trade Balance.\r\n\r\nTHURSDAY: GBP – Retail Sales.\r\n\r\nFRIDAY: N/A.\r\n\r\n&nbsp;\r\n\r\n<b><span style=\"text-decoration: underline;\">5. THE UPDATED PREMIUM SERVICE DATA:</span></b>\r\n\r\nThe following is a copy of the document that will appear on the welcome page of THE WEEKLY FX DRIVE THRU:\r\n<p align=\"center\"><b><span style=\"text-decoration: underline;\">THE PREMIUM SERVICE   </span></b>\r\n\r\nFirstly, the PREMIUM SERVICE is a subscriber only addition to The WEEKLY FX DRIVE-THRU. The WEEKLY FX DRIVE-THRU is a weekly blog that I started over two years ago. Its aim was to review my thoughts and ideas on the Forex market. I then started to add trade set-ups and write about trades that would be on my mind if certain events took place.\r\n\r\nI started to publish my future trade set-ups, which were predominantly profitable and as I approached my 100<sup>th</sup> blog, I decided that it was time to move to the next stage…. the PREMIUM SERVICE.\r\n\r\nThe PREMIUM SERVICE contains trade-set ups of my various styles of trades that I developed into a successful formula for trading the Forex market with more profitable than losing trades.\r\n\r\nAs a subscriber to the PREMIUM SERVICE, you will receive all my suggested trades whether they are: - FLASH trades, RADAR trades or FUNDAMENTAL trades via an exclusive protected Twitter feed. I give you my thoughts on entry, exit, trade size and what type of lot to trade.\r\n\r\nI do the risk assessment ahead of the trade. You decide whether you want to take the trade and what position size to take.\r\n\r\nIf you trade part-time: with the RADAR TRADE suggestions you simply load a limit order with your broker and the trade will enter and exit automatically, if you use the suggestions I provide, or you can chose your own exit strategy.\r\n\r\n(Full details and definitions of FLASH, RADAR and FUNDAMENTAL trades are inside the secure members area of the PREMIUM SERVICE)\r\n\r\n</p><p align=\"center\"><b>What are the current trading success rates with the PREMIUM SERVICE?</b></p>\r\nFrom my blogs published in December and January the following is an accurate trade by trade set up that was either “Blogged” or “Tweeted” via my twitter account @pipaccumulator (If you want more details please contact me directly via email - my address is at the foot of this document). I have my own history from the past 6 /7 years but it is displayed as below or in excel spread sheets as seen in my blog posts in the WEEKLY FX DRIVE-THRU <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a> and below.\r\n<p align=\"center\"><b><span style=\"text-decoration: underline;\"> </span></b></p>\r\n<p align=\"center\"><b><span style=\"text-decoration: underline;\">RADAR, FLASH and FUNDAMENTAL TRADES</span></b></p>\r\n<p align=\"center\"><b><span style=\"text-decoration: underline;\">FEBRUARY 2014 and YEAR to date:</span></b></p>\r\n\r\nBelow I show the up to date performances for my various trading styles. Full excel spreadsheets are in the subscriber area of the PREMIUM SERVICE.\r\n<p style=\"text-align: center;\"><b><span style=\"text-decoration: underline;\">RADAR TRADES – FEBRUARY 2014:\r\n</span></b><b style=\"line-height: 1.5em;\"><span style=\"text-decoration: underline;\">PROFITS FROM SINGLE LOT COMPLETED RADAR TRADES:</span></b></p>\r\n<p style=\"text-align: center;\"> 1 x MICRO-LOT:\r\n14 trades at $0.10 cents each = $1.40 risk for $18.80 profit.</p>\r\n<p align=\"center\">1 x MINI-LOT:\r\n14 trades at $1.00 each = $14.00 risk for $188.00 profit.</p>\r\n<p align=\"center\">1 x STANDARD LOT:\r\n<span style=\"line-height: 1.5em;\">14 trades at $10.00 each = $140.00 risk for $1,880.00 profit.</span></p>\r\n<p style=\"text-align: center;\"><b><span style=\"text-decoration: underline;\">FLASH TRADES – FEBRUARY 2014:\r\n</span></b><b><span style=\"text-decoration: underline;\">PROFITS FROM SINGLE LOT COMPLETED FLASH TRADES:</span></b></p>\r\n<p align=\"center\">1 x MICRO-LOT:\r\n28 trades at $0.10 cents each = $2.80 cents risk for $65.50 profit.</p>\r\n<p align=\"center\">1 x MINI-LOT:\r\n28 trades at $1.00 each = $28.00 risk for $655.00 profit.</p>\r\n<p align=\"center\">1 x STANDARD LOT:\r\n28 trades at $10.00 each = $280.00 risk for $6,550.00 profit.</p>\r\n<b><span style=\"text-decoration: underline;\"> </span></b>\r\n<p style=\"text-align: center;\"><b><span style=\"text-decoration: underline;\">FUNDAMENTAL TRADES – FEBRUARY 2014:\r\n</span></b><b style=\"line-height: 1.5em;\"><span style=\"text-decoration: underline;\">PROFITS FROM SINGLE LOT COMPLETED FUNDAMENTAL TRADES:</span></b></p>\r\n<p align=\"center\">1 x MICRO-LOT:\r\n20 trades at $0.10 cents each = $2.00 cents risk for $15.50 profit</p>\r\n<p align=\"center\">1 x MINI-LOT:\r\n20 trades at $1.00 each = $20.00 risk for $155.00 profit.</p>\r\n<p align=\"center\">1 x STANDARD LOT:\r\n20 trades at $10.00 each = $200.00 risk for $1,550.00 profit</p>\r\n<b><span style=\"text-decoration: underline;\"> </span></b>\r\n<p align=\"center\"><b><span style=\"text-decoration: underline;\">COMBINED FLASH, RADAR AND FUNDAMENTAL TRADES PROFIT PERFORMANCE\r\n</span></b><b><span style=\"text-decoration: underline;\">FEBRUARY 2014</span></b></p>\r\n<p align=\"center\">TRADING MICRO-LOTS:\r\n62 trades at $0.10 cents each = $6.20 risk for $99.80 profit.</p>\r\n<p align=\"center\">TRADING MINI-LOTS:\r\n62 trades at $1.00 each = $62.00 risk for $998.00 profit.</p>\r\n<p align=\"center\">TRADING STANDARD LOTS:\r\n62 trades at $10.00 each = $620.00 risk for $9,980.00 profit.</p>\r\n<p align=\"center\"><b><span style=\"text-decoration: underline;\">COMBINED FLASH, RADAR AND FUNDAMENTAL TRADES PROFIT PERFORMANCE\r\n</span></b><b><span style=\"text-decoration: underline;\">YEAR TO DATE JAN &amp; FEB - 2014:</span></b></p>\r\n<p align=\"center\">TRADING MICRO-LOTS:\r\n109 trades at $0.10 cents each = $10.90 risk for $178.30 profit.</p>\r\n<p align=\"center\">TRADING MINI-LOTS:\r\n109 trades at $1.00 each = $109.00 risk for $1,783.00 profit.</p>\r\n<p align=\"center\">TRADING STANDARD LOTS:\r\n109 trades at $10.00 each = $1,090.00 risk for $17,830 profit.</p>\r\nIf you go to <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a> and check back over the past 8/9 posts you can see very clearly the growth week by week to give this total.\r\n\r\nI am NOT saying that this can be expected every month because I am a cautious trader.\r\n\r\nHowever, I do trade currencies to make money.\r\n\r\nWhilst I like the idea of longer-term trading, if the market looks false to me I will cut profitable trades and bank money. I am not looking for the glory of three/four week trades to show I have nerves of steel to make +300 pips or so. If I can make 300 pips from three or four 24/48 hour trades instead, who cares? It’s all about banking profits and minimizing risk\r\n\r\nI will have a balance of intra-day, swing and long term trades. It is your choice to pick what you want to take and what to risk. I am a low-risk very conservative trader.\r\n<p align=\"center\">FUNDAMENTALS MATTER TO ME</p>\r\n<p align=\"center\">I TRADE TO MAKE MONEY…NOT TO PICK TOPS OR BOTTOMS</p>\r\n<p align=\"center\">I TRADE LOW RISK</p>\r\n<p align=\"center\">I DO NOT CHASE MARKETS</p>\r\n<p align=\"center\">I LIKE THE TRADES TO COME TO ME</p>\r\n<p align=\"center\">I AM NOT A GREEDY TRADER</p>\r\n<p align=\"center\">I LIKE TO TRADE MOMENTUMS IN THE DIRECTION OF TRENDS</p>\r\n<p align=\"center\">I USE FIBONACCI LEVELS TO ENTER &amp; EXIT ON MANY TRADES</p>\r\n<p align=\"center\">PLUS</p>\r\n<p align=\"center\">MY TRADING STYLE IS MIXED EVEN WITH THE ABOVE KEY BASICS</p>\r\n<p align=\"center\">I USE THE PULLBACK STRATEGY TO ENTER AND I LIKE SWING AND LONGER-TERM TRADES (WHEN POSSIBLE</p>\r\nThe members area of the website contains not just the comprehensive trading history / journal of trades but it also contains as much support information as I can gather that is of use to help us all trade profitably. As time moves on, the support pages areas will increase so that it becomes a one-stop point of reference for all styles and types of traders regardless of experience.\r\n\r\nI am hoping to have a chat room so that subscribers and myself can chat live about potential live trades. In addition, if the number of participants is economically viable, I will hold webinars on trading issues.\r\n\r\nThe PREMIUM SERVICE will evolve as it moves forward. The Trader support section of the website is growing each week. Essential trading support material from blog posts and from other sources are added to build up what I hope to be an extensive library of information useful to traders of all levels.\r\n\r\nWhilst upon first look, it may appear that the Premium Service is directed solely at new traders, or those with intermediate skill levels. Please note this is not my intention. Trading can be lonely, and sometimes it is good to feel that you are part of a team. With this in mind, I am thinking that a “Chat Room” style area would be of benefit to all traders to share ideas and trade set-ups. Plus, whether you are a new trader or an experienced trader it is always good to have a library of information available close at hand.\r\n\r\nWhat are the costs?\r\n\r\nThere will be 40 weekly blogs / issues per year. I will not write in the summer and over Christmas periods. There will be an unlimited amount of Twitter follow-ups to the exclusive subscribers on a Twitter secure feed during the week to review and act upon “FLASH, RADAR and FUNDAMENTAL trades” and issues emanating from previous blogs.\r\n<p align=\"center\"><b><span style=\"text-decoration: underline;\">TRY IT AND SEE DEAL:</span></b></p>\r\n<p align=\"center\"><b>You can try the PREMIUM SERVICE for a nominal $20.00 for 4 weeks membership. </b></p>\r\n<p align=\"center\"><b>You will have a full 100% access to the secure area of the website and the exclusive protected Twitter feed via @ThePremService</b></p>\r\n<p align=\"center\"><b>To try the PREMIUM SERVICE on this special offer you need to go to “SIGN-UP” and follow the instructions by clicking the 4-week option button at the subscription section.</b></p>\r\n<p align=\"center\"><b>At the end of your 4 weeks you can either walk away or subscribe to one of the options below.</b></p>\r\n<p align=\"center\"><b><span style=\"text-decoration: underline;\"> </span></b></p>\r\n<p align=\"center\"><b><span style=\"text-decoration: underline;\">FIRST TIME / INTITIAL SUBSCRIPTION RATES:</span></b></p>\r\n<p align=\"center\"><b>There are three subscription options:</b></p>\r\n<p align=\"center\"><b>40 WEEKS (ANNUAL) SUBSCRIPTION: $400.00\r\n(equivalent $10.00 per week) </b></p>\r\n<p align=\"center\"><b>20 WEEKS SUBSCRIPTION: $250.00\r\n(equivalent $12.50 per week) </b></p>\r\n<p align=\"center\"><b>10 WEEKS SUBSCRIPTION: $150.00\r\n(equivalent $15.00 per week) </b></p>\r\n<p align=\"center\"><b>(All Fees are quoted in USD\r\nand\r\nPlease note: There are no refunds once a subscription is accepted)</b></p>\r\n<p align=\"center\"><b> </b></p>\r\n<p align=\"center\"><b><span style=\"text-decoration: underline;\">RENEWAL RATES:\r\n\r\n</span></b><b>These apply after a full priced subscription has completed:</b></p>\r\n<p align=\"center\"><b>40 WEEKS (ANNUAL) SUBSCRIPTION: $300.00\r\n(equivalent $7.50 per week) </b></p>\r\n<p align=\"center\"><b>20 WEEKS SUBSCRIPTION: $200.00\r\n(equivalent $10.00 per week) </b></p>\r\n<p align=\"center\"><b>10 WEEKS SUBSCRIPTION: $150.00\r\n(equivalent $15.00 per week) </b></p>\r\n<p align=\"center\"><b>(All Fees are quoted in USD\r\nand\r\nPlease note: There are no refunds once a subscription is accepted)</b></p>\r\n&nbsp;\r\n\r\nIf you like what you have just read. Please click on the “SIGN -UP” link at the top of the welcome page of the WEEKLY FX DRIVE-THRU.\r\n\r\nThe registration is very straightforward to follow all you require is a PayPal account.\r\n\r\nWhen the registration process is complete and, within 24 hours, you will receive an email from me confirming everything and welcoming you onboard so to speak.\r\n\r\nShould you have any queries or encounter problems whilst trying to subscribe please contact me on the following email: -\r\n<p align=\"center\"><b><span style=\"text-decoration: underline;\">premiumservice@weeklyfxdrivethru.com</span></b></p>\r\nI do hope that if you look through the history of my blog posts on the WEEKLY FX DRIVE-THRU you will see that I do have a relevance to the Forex market and that joining the PREMIUM SERVICE would add value to your trading.\r\n\r\n<b><span style=\"text-decoration: underline;\"> </span></b>\r\n\r\n<b><span style=\"text-decoration: underline;\">6. FINAL THOUGHTS:</span></b>\r\n\r\nNot a heavy news item week for me this week, but I still think that the bull / bear battle in equities will continue and that the Ukraine is NOT out of the picture yet. So all in all it should be an interesting week.\r\n\r\nI still think we will be in very difficult trading conditions as the ‘twitchiness’ in the market continues. I actually think that matters will intensify, as we are very stretched.\r\n\r\nBig news on the PREMIUM SERVICE and this will take up a lot of my time this coming week, but I should still have plenty of time to trade. With this final point in mind, trade carefully, exercise good and sound MONEY MANAGEMENT. Always trade using the guidelines set out inside your TRADING PLAN.\r\n\r\nGood luck and be careful with position sizes.\r\n\r\nScott Pickering\r\nThe Pip Accumulator\r\nSaturday March 22nd 2014\r\n\r\nEMAIL / FOLLOW ME AT:\r\ndrivethru@weeklyfxdrivethru.com\r\nTwitter: @pipaccumulator\r\nGoogle+/scottpickering\r\nStockTwits; thepipaccumulator\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n&nbsp;','SANCTIONS MY A** - IT’S TOO LITTLE TOO LATE AND PUTIN IS WELL IN CONTROL. HOW DO WE TRADE THIS?','','inherit','open','closed','','3350-revision-v1','','','2014-03-22 07:24:02','2014-03-22 12:24:02','',3350,'https://weeklyfxdrivethru.com/3350-revision-v1/',0,'revision','',0),(3352,1,'2014-03-22 07:25:17','2014-03-22 12:25:17','<p align=\"center\"><b style=\"line-height: 1.5em;\"> </b></p>\r\n<b><span style=\"text-decoration: underline;\">1. INTRODUCTION:</span></b>\r\n\r\nTwo weeks on…a completed trip to Dublin for St Patrick’s Day….copious amounts of Guinness consumed and back to more of the same as it was before I left. Now, I really do not mean to complain, or sound negative; but I am finding this market very challenging. It is what it is, but, give me a break.\r\n\r\nI am above water for this month but it has been a challenge. I re-iterate what I have said before in tweets and recent blogs; if you are a new trader it is not always like this and if you can survive this you can survive anything. The market is not forgiving and just when you think that you have it, it turns on you. It is not normal. If you read the last two or three blogs that I have written I have posted ways to help you survive.\r\n\r\nMoving on…\r\n\r\nJanet Yellen left her mark on the week and the markets took her seriously for 24 hours and then reverted to the WTF, buy on dips mode once again.\r\n\r\nThe Ukraine, which was very serious, has turned into a fiasco in my opinion and it now replicates the scene from the Monty Python movie “The Life of Brian” when “Reg” the leader of the Judean People’s Popular Front decides to take immediate action. In his language that meant lets form a head committee and a sub committee to work on options. Meanwhile it all goes on before his eyes and it’s too little too late. The ECB and Obama have modeled their administrations on “Reg”. Yer man, Putin, is just not playing by the rules…yeah right. The markets appear completely not interested anymore so off we go again pressing higher. Fundamentals count…my a** they don’t.\r\n\r\nThe USD did not die…come back Lazarus. The EUR/USD break to 1.3967 was a false breakout. Maybe tapering will have an effect? In any event false breakouts usually mean the turn back is much stronger. Watch this space.\r\n\r\nOther big news for me is that I have now reached my target subscriber numbers to the PREMIUM SERVICE. As this is NOT about the $$$, I have revised my prices, introduced a “TRY IT &amp; SEE” option for 4 weeks for $20.00. All existing members now known as my “CORE” have had their final subscription dates extended and then some more!\r\n\r\nI am delighted with the impact and the fact that subscribers are worldwide. Soon I will deliver a “DAILY POST” for subscribers to the PREMIUM SERVICE direct to the website daily prior to 9.00am EDT. This will be in addition to the protected “Twitter” feed. The DAILY POST will be trade-set ups only with little supporting information and will vary in size depending upon what interest’s me.\r\nI have a full section later on the PREMIUM SERVICE updates and the web site will be able to accept the new and revised subscriptions from Tuesday morning (hopefully!!) the 25<sup>th</sup> March 2014.\r\n\r\n&nbsp;\r\n\r\n<b><span style=\"text-decoration: underline;\">2. THE VIEW FROM MY TRADERS DESK:</span></b>\r\n<p align=\"center\"><b>SANCTIONS MY A** - IT’S TOO LITTLE TOO LATE AND PUTIN IS WELL IN CONTROL.\r\n</b><b>HOW DO WE TRADE THIS?</b><b style=\"line-height: 1.5em;\"> </b></p>\r\nSo before my trip to Dublin, the Ukraine issues were front and centre, sanctions were being talked about in Washington and Brussels.\r\n\r\nI am not going to write a long piece about the Crimea and its importance to Moscow militarily for it’s fleet of navel ships, being that it contains a very deep- water port. Common sense in the west would have realized that this would NOT be handed over to a regime influenced by NATO. Hence I think, we have been playing a game, because lets get serious, these sanctions are a joke. The tit for tat approach between Moscow and Washington on banning individuals from entry to countries, is complete and utter boll***s.\r\n\r\nThe French, (who are always good for a laugh on Foreign Policy), telling Putin that they may not ship two warships to Russia because of the escalating Crimea situation. Jesus, if I were Putin I’d cancel the f*cking deal, he doesn’t need the ships anyway and that would hurt France more. Then there’s the French arguing with the UK over Russian “Oligarchs” in London living in substantial properties and their children being educated in UK private schools.\r\n\r\nFor God’s sake all Putin has to do is cut off the gas supply to Germany and that’s it.\r\n<p style=\"text-align: center;\"><em>Putin has all the aces in his hand. </em></p>\r\n<p style=\"text-align: center;\"><em>The sanctions in place, do they help the Ukraine – NO.</em></p>\r\n<p style=\"text-align: center;\"><em>Are these bluffs from Obama and Hollande and the EU easily seen – YES.</em></p>\r\n<p style=\"text-align: center;\"><em>Would more sanctions on trade help? – NO.</em><em> </em></p>\r\nAll of the sanctions that have been causing unrest in the area so far have achieved little or nothing, in fact all they have done is massage the ego’s of a few numpty politicians….all this for ego’s!\r\n\r\nCommon sense has to prevail soon. The west knows that Putin <b>could not and</b> <b>would NOT</b> give up his naval bases. It would be suicide from his perspective. I am not saying that I agree with how this has happened but that is the high level view.\r\n\r\nI hate to write this but I think the common sense in this situation will come from Angela Merkel as the Germans are so reliant on the pipeline of natural gas pumping. Putin knows this and that is why he is sitting in Moscow playing the organ grinder, while, the monkey’s dance around.\r\n\r\nLets face facts, before the west could get up off it\'s a** and sort out what they were going to do, Putin organized a referendum (of sorts) had a vote, had it counted and had the paperwork signed in Moscow taking control of the Crimea. In that time the EZ were still debating Brie or Camembert for the cheese and Sauvignon Blanc or Chablis for the white and Pinot Noir or Bordeaux for the red. They were also waiting on the EZ can provider to come up with a can for kicking!\r\n\r\nGive me a break. The west’s response was muted because they knew what was at stake for Moscow but they never actually could politically say we have to let the Crimea pass title.\r\n\r\nMoving on to the trading aspect.\r\n\r\nIf Putin has designs on other parts of the Ukraine I do think that the story will unfold a little differently gas or no gas supply to the EZ.\r\n\r\nThe EUR/USD is trading very heavily and whilst it is in the range of 1.3720 to 1.3970, I would apply caution. It is a 270 pip trading range, whilst I think we had a false breakout to the highs we have NOT sold off the way that I would have thought given the fact we had a false breakout.\r\n\r\nMy trading ideas for the EUR/USD would be sell into strengths and buy on dips within mini ranges inside the 270 pip overall range. For example 1.3775 to 1.3808 is a range within the range. Its only 33 pips, but it pretty well contained the EUR/USD yesterday (Friday).\r\n\r\nThe EUR/USD is waiting for news to move it. I suggest not trading it until you get a momentum trade going.\r\n\r\nLook at other pairs preferably non USD related as USD traded pairs would be affected by Ukraine news:\r\n\r\nEUR/GBP\r\nAUD/JPY\r\n\r\nThese are two pairs that spring to mind. In any event do not get “gun-ho” with trading big lot/position sizes as you will get shot down unless you are very lucky. Volatility is ahead because I fear that the Ukraine news is far from over.\r\n\r\n<b><span style=\"text-decoration: underline;\"> </span></b>\r\n\r\n<b><span style=\"text-decoration: underline;\">3. LOOKING FORWARD…THE KEY SUPPORT &amp; RESISTANCE LEVELS WITH THE USD MAJORS:</span></b><b> </b>\r\n\r\n<b>EUR/USD: Closing Price 1.3793.</b>  I am looking at the EUR/USD as being a false breakout, however the EUR/USD is still close to breakout territory. The next few sessions should determine whether this pair is going higher or we topped at 1.3967. I do not think that the USD is out of the woods yet, but it is getting there and I am tempted to nibble with the pullback strategy with this pair over the coming sessions. The range is simple, but large 1.3720 to 1.3970.\r\n\r\n<b>GBP/USD: Closing Price 1.6485. </b>In the past week or so we had a big fall back for cable. We are playing out a measured move double top around 1.6780, which should take us lower to 1.6340. 1.6465 is a big support going lower and 1.6570 should offer good resistance in the other direction.<b> </b>\r\n\r\n<b>AUD/USD: Closing Price 0.9079</b>. I am ready to short the pants off this pair; just get me the entry price of 0.9140, or as close to as possible. The range for me is 0.9000 to 0.9140\r\n\r\n<b>NZD/USD: Closing Price 0.8531</b>.  Some bad GDP data from New Zealand during the past week has put a stop to the grind higher. My question is are we consolidating to move higher or ready to fall? The key level of 0.8500 support needs to be taken for the bears and 0.8575 resistance for the bulls to watch.\r\n\r\n<b>USD/CAD: Closing Price 1.1220.</b> The USD/CAD strengthened like crazy yesterday (Friday) on good economic data that once again appeared to be leaked, it is so damn annoying and totally illegal if it is happening. The range of 1.1150 to 1.1315 is in play.\r\n\r\n<b>USD/CHF: Closing Price 0.8828</b>. I am little hesitant to trade this pair given the links and tensions to the Ukraine. The safety play is always in the back of my mind. Having just written that perhaps it would be a great long from around 0.8500…dream on. The present range is from 0.8800 to 0.8870.\r\n\r\n<b>USD/JPY: Closing Price 102.26.  </b>Let me just say the range is 102.00 to 102.80.\r\n\r\n&nbsp;\r\n\r\n<b><span style=\"text-decoration: underline;\">4. MAJOR FOREX NEWS THIS WEEK THAT INTERESTS ME:</span></b>\r\n\r\nSUNDAY: CNY – HSBC Flash Manufacturing PMi.\r\n\r\nMONDAY: EUR – French &amp; German Flash Manufacturing PMi.\r\n\r\nTUESDAY: GBP – CPi.\r\n\r\nWEDNESDAY: NZD – Trade Balance.\r\n\r\nTHURSDAY: GBP – Retail Sales.\r\n\r\nFRIDAY: N/A.\r\n\r\n&nbsp;\r\n\r\n<b><span style=\"text-decoration: underline;\">5. THE UPDATED PREMIUM SERVICE DATA:</span></b>\r\n\r\nThe following is a copy of the document that will appear on the welcome page of THE WEEKLY FX DRIVE THRU:\r\n<p align=\"center\"><b><span style=\"text-decoration: underline;\">THE PREMIUM SERVICE   </span></b>\r\n\r\nFirstly, the PREMIUM SERVICE is a subscriber only addition to The WEEKLY FX DRIVE-THRU. The WEEKLY FX DRIVE-THRU is a weekly blog that I started over two years ago. Its aim was to review my thoughts and ideas on the Forex market. I then started to add trade set-ups and write about trades that would be on my mind if certain events took place.\r\n\r\nI started to publish my future trade set-ups, which were predominantly profitable and as I approached my 100<sup>th</sup> blog, I decided that it was time to move to the next stage…. the PREMIUM SERVICE.\r\n\r\nThe PREMIUM SERVICE contains trade-set ups of my various styles of trades that I developed into a successful formula for trading the Forex market with more profitable than losing trades.\r\n\r\nAs a subscriber to the PREMIUM SERVICE, you will receive all my suggested trades whether they are: - FLASH trades, RADAR trades or FUNDAMENTAL trades via an exclusive protected Twitter feed. I give you my thoughts on entry, exit, trade size and what type of lot to trade.\r\n\r\nI do the risk assessment ahead of the trade. You decide whether you want to take the trade and what position size to take.\r\n\r\nIf you trade part-time: with the RADAR TRADE suggestions you simply load a limit order with your broker and the trade will enter and exit automatically, if you use the suggestions I provide, or you can chose your own exit strategy.\r\n\r\n(Full details and definitions of FLASH, RADAR and FUNDAMENTAL trades are inside the secure members area of the PREMIUM SERVICE)\r\n\r\n</p><p align=\"center\"><b>What are the current trading success rates with the PREMIUM SERVICE?</b></p>\r\nFrom my blogs published in December and January the following is an accurate trade by trade set up that was either “Blogged” or “Tweeted” via my twitter account @pipaccumulator (If you want more details please contact me directly via email - my address is at the foot of this document). I have my own history from the past 6 /7 years but it is displayed as below or in excel spread sheets as seen in my blog posts in the WEEKLY FX DRIVE-THRU <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a> and below.\r\n<p align=\"center\"><b><span style=\"text-decoration: underline;\"> </span></b></p>\r\n<p align=\"center\"><b><span style=\"text-decoration: underline;\">RADAR, FLASH and FUNDAMENTAL TRADES</span></b></p>\r\n<p align=\"center\"><b><span style=\"text-decoration: underline;\">FEBRUARY 2014 and YEAR to date:</span></b></p>\r\nBelow I show the up to date performances for my various trading styles. Full excel spreadsheets are in the subscriber area of the PREMIUM SERVICE.\r\n<p style=\"text-align: center;\"><b><span style=\"text-decoration: underline;\">RADAR TRADES – FEBRUARY 2014:\r\n</span></b><b style=\"line-height: 1.5em;\"><span style=\"text-decoration: underline;\">PROFITS FROM SINGLE LOT COMPLETED RADAR TRADES:</span></b></p>\r\n<p style=\"text-align: center;\"> 1 x MICRO-LOT:\r\n14 trades at $0.10 cents each = $1.40 risk for $18.80 profit.</p>\r\n<p align=\"center\">1 x MINI-LOT:\r\n14 trades at $1.00 each = $14.00 risk for $188.00 profit.</p>\r\n<p align=\"center\">1 x STANDARD LOT:\r\n<span style=\"line-height: 1.5em;\">14 trades at $10.00 each = $140.00 risk for $1,880.00 profit.</span></p>\r\n<p style=\"text-align: center;\"><b><span style=\"text-decoration: underline;\">FLASH TRADES – FEBRUARY 2014:\r\n</span></b><b><span style=\"text-decoration: underline;\">PROFITS FROM SINGLE LOT COMPLETED FLASH TRADES:</span></b></p>\r\n<p align=\"center\">1 x MICRO-LOT:\r\n28 trades at $0.10 cents each = $2.80 cents risk for $65.50 profit.</p>\r\n<p align=\"center\">1 x MINI-LOT:\r\n28 trades at $1.00 each = $28.00 risk for $655.00 profit.</p>\r\n<p align=\"center\">1 x STANDARD LOT:\r\n28 trades at $10.00 each = $280.00 risk for $6,550.00 profit.</p>\r\n<b><span style=\"text-decoration: underline;\"> </span></b>\r\n<p style=\"text-align: center;\"><b><span style=\"text-decoration: underline;\">FUNDAMENTAL TRADES – FEBRUARY 2014:\r\n</span></b><b style=\"line-height: 1.5em;\"><span style=\"text-decoration: underline;\">PROFITS FROM SINGLE LOT COMPLETED FUNDAMENTAL TRADES:</span></b></p>\r\n<p align=\"center\">1 x MICRO-LOT:\r\n20 trades at $0.10 cents each = $2.00 cents risk for $15.50 profit</p>\r\n<p align=\"center\">1 x MINI-LOT:\r\n20 trades at $1.00 each = $20.00 risk for $155.00 profit.</p>\r\n<p align=\"center\">1 x STANDARD LOT:\r\n20 trades at $10.00 each = $200.00 risk for $1,550.00 profit</p>\r\n<b><span style=\"text-decoration: underline;\"> </span></b>\r\n<p align=\"center\"><b><span style=\"text-decoration: underline;\">COMBINED FLASH, RADAR AND FUNDAMENTAL TRADES PROFIT PERFORMANCE\r\n</span></b><b><span style=\"text-decoration: underline;\">FEBRUARY 2014</span></b></p>\r\n<p align=\"center\">TRADING MICRO-LOTS:\r\n62 trades at $0.10 cents each = $6.20 risk for $99.80 profit.</p>\r\n<p align=\"center\">TRADING MINI-LOTS:\r\n62 trades at $1.00 each = $62.00 risk for $998.00 profit.</p>\r\n<p align=\"center\">TRADING STANDARD LOTS:\r\n62 trades at $10.00 each = $620.00 risk for $9,980.00 profit.</p>\r\n<p align=\"center\"><b><span style=\"text-decoration: underline;\">COMBINED FLASH, RADAR AND FUNDAMENTAL TRADES PROFIT PERFORMANCE\r\n</span></b><b><span style=\"text-decoration: underline;\">YEAR TO DATE JAN &amp; FEB - 2014:</span></b></p>\r\n<p align=\"center\">TRADING MICRO-LOTS:\r\n109 trades at $0.10 cents each = $10.90 risk for $178.30 profit.</p>\r\n<p align=\"center\">TRADING MINI-LOTS:\r\n109 trades at $1.00 each = $109.00 risk for $1,783.00 profit.</p>\r\n<p align=\"center\">TRADING STANDARD LOTS:\r\n109 trades at $10.00 each = $1,090.00 risk for $17,830 profit.</p>\r\nIf you go to <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a> and check back over the past 8/9 posts you can see very clearly the growth week by week to give this total.\r\n\r\nI am NOT saying that this can be expected every month because I am a cautious trader.\r\n\r\nHowever, I do trade currencies to make money.\r\n\r\nWhilst I like the idea of longer-term trading, if the market looks false to me I will cut profitable trades and bank money. I am not looking for the glory of three/four week trades to show I have nerves of steel to make +300 pips or so. If I can make 300 pips from three or four 24/48 hour trades instead, who cares? It’s all about banking profits and minimizing risk\r\n\r\nI will have a balance of intra-day, swing and long term trades. It is your choice to pick what you want to take and what to risk. I am a low-risk very conservative trader.\r\n<p align=\"center\">FUNDAMENTALS MATTER TO ME</p>\r\n<p align=\"center\">I TRADE TO MAKE MONEY…NOT TO PICK TOPS OR BOTTOMS</p>\r\n<p align=\"center\">I TRADE LOW RISK</p>\r\n<p align=\"center\">I DO NOT CHASE MARKETS</p>\r\n<p align=\"center\">I LIKE THE TRADES TO COME TO ME</p>\r\n<p align=\"center\">I AM NOT A GREEDY TRADER</p>\r\n<p align=\"center\">I LIKE TO TRADE MOMENTUMS IN THE DIRECTION OF TRENDS</p>\r\n<p align=\"center\">I USE FIBONACCI LEVELS TO ENTER &amp; EXIT ON MANY TRADES</p>\r\n<p align=\"center\">PLUS</p>\r\n<p align=\"center\">MY TRADING STYLE IS MIXED EVEN WITH THE ABOVE KEY BASICS</p>\r\n<p align=\"center\">I USE THE PULLBACK STRATEGY TO ENTER AND I LIKE SWING AND LONGER-TERM TRADES (WHEN POSSIBLE</p>\r\nThe members area of the website contains not just the comprehensive trading history / journal of trades but it also contains as much support information as I can gather that is of use to help us all trade profitably. As time moves on, the support pages areas will increase so that it becomes a one-stop point of reference for all styles and types of traders regardless of experience.\r\n\r\nI am hoping to have a chat room so that subscribers and myself can chat live about potential live trades. In addition, if the number of participants is economically viable, I will hold webinars on trading issues.\r\n\r\nThe PREMIUM SERVICE will evolve as it moves forward. The Trader support section of the website is growing each week. Essential trading support material from blog posts and from other sources are added to build up what I hope to be an extensive library of information useful to traders of all levels.\r\n\r\nWhilst upon first look, it may appear that the Premium Service is directed solely at new traders, or those with intermediate skill levels. Please note this is not my intention. Trading can be lonely, and sometimes it is good to feel that you are part of a team. With this in mind, I am thinking that a “Chat Room” style area would be of benefit to all traders to share ideas and trade set-ups. Plus, whether you are a new trader or an experienced trader it is always good to have a library of information available close at hand.\r\n\r\nWhat are the costs?\r\n\r\nThere will be 40 weekly blogs / issues per year. I will not write in the summer and over Christmas periods. There will be an unlimited amount of Twitter follow-ups to the exclusive subscribers on a Twitter secure feed during the week to review and act upon “FLASH, RADAR and FUNDAMENTAL trades” and issues emanating from previous blogs.\r\n<p align=\"center\"><b><span style=\"text-decoration: underline;\">TRY IT AND SEE DEAL:</span></b></p>\r\n<p align=\"center\"><b>You can try the PREMIUM SERVICE for a nominal $20.00 for 4 weeks membership. </b></p>\r\n<p align=\"center\"><b>You will have a full 100% access to the secure area of the website and the exclusive protected Twitter feed via @ThePremService</b></p>\r\n<p align=\"center\"><b>To try the PREMIUM SERVICE on this special offer you need to go to “SIGN-UP” and follow the instructions by clicking the 4-week option button at the subscription section.</b></p>\r\n<p align=\"center\"><b>At the end of your 4 weeks you can either walk away or subscribe to one of the options below.</b></p>\r\n<p align=\"center\"><b><span style=\"text-decoration: underline;\"> </span></b></p>\r\n<p align=\"center\"><b><span style=\"text-decoration: underline;\">FIRST TIME / INITIAL SUBSCRIPTION RATES:</span></b></p>\r\n<p align=\"center\"><b>There are three subscription options:</b></p>\r\n<p align=\"center\"><b>40 WEEKS (ANNUAL) SUBSCRIPTION: $400.00\r\n(equivalent $10.00 per week) </b></p>\r\n<p align=\"center\"><b>20 WEEKS SUBSCRIPTION: $250.00\r\n(equivalent $12.50 per week) </b></p>\r\n<p align=\"center\"><b>10 WEEKS SUBSCRIPTION: $150.00\r\n(equivalent $15.00 per week) </b></p>\r\n<p align=\"center\"><b>(All Fees are quoted in USD\r\nand\r\nPlease note: There are no refunds once a subscription is accepted)</b></p>\r\n<p align=\"center\"><b> </b></p>\r\n<p align=\"center\"><b><span style=\"text-decoration: underline;\">RENEWAL RATES:</span></b></p>\r\n<p style=\"text-align: center;\"><b>These apply after a full priced subscription has completed:</b></p>\r\n<p align=\"center\"><b>40 WEEKS (ANNUAL) SUBSCRIPTION: $300.00\r\n(equivalent $7.50 per week) </b></p>\r\n<p align=\"center\"><b>20 WEEKS SUBSCRIPTION: $200.00\r\n(equivalent $10.00 per week) </b></p>\r\n<p align=\"center\"><b>10 WEEKS SUBSCRIPTION: $150.00\r\n(equivalent $15.00 per week) </b></p>\r\n<p align=\"center\"><b>(All Fees are quoted in USD\r\nand\r\nPlease note: There are no refunds once a subscription is accepted)</b></p>\r\n&nbsp;\r\n\r\nIf you like what you have just read. Please click on the “SIGN -UP” link at the top of the welcome page of the WEEKLY FX DRIVE-THRU.\r\n\r\nThe registration is very straightforward to follow all you require is a PayPal account.\r\n\r\nWhen the registration process is complete and, within 24 hours, you will receive an email from me confirming everything and welcoming you onboard so to speak.\r\n\r\nShould you have any queries or encounter problems whilst trying to subscribe please contact me on the following email: -\r\n<p align=\"center\"><b><span style=\"text-decoration: underline;\">premiumservice@weeklyfxdrivethru.com</span></b></p>\r\nI do hope that if you look through the history of my blog posts on the WEEKLY FX DRIVE-THRU you will see that I do have a relevance to the Forex market and that joining the PREMIUM SERVICE would add value to your trading.\r\n\r\n<b><span style=\"text-decoration: underline;\"> </span></b>\r\n\r\n<b><span style=\"text-decoration: underline;\">6. FINAL THOUGHTS:</span></b>\r\n\r\nNot a heavy news item week for me this week, but I still think that the bull / bear battle in equities will continue and that the Ukraine is NOT out of the picture yet. So all in all it should be an interesting week.\r\n\r\nI still think we will be in very difficult trading conditions as the ‘twitchiness’ in the market continues. I actually think that matters will intensify, as we are very stretched.\r\n\r\nBig news on the PREMIUM SERVICE and this will take up a lot of my time this coming week, but I should still have plenty of time to trade. With this final point in mind, trade carefully, exercise good and sound MONEY MANAGEMENT. Always trade using the guidelines set out inside your TRADING PLAN.\r\n\r\nGood luck and be careful with position sizes.\r\n\r\nScott Pickering\r\nThe Pip Accumulator\r\nSaturday March 22nd 2014\r\n\r\nEMAIL / FOLLOW ME AT:\r\ndrivethru@weeklyfxdrivethru.com\r\nTwitter: @pipaccumulator\r\nGoogle+/scottpickering\r\nStockTwits; thepipaccumulator\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n&nbsp;','SANCTIONS MY A** - IT’S TOO LITTLE TOO LATE AND PUTIN IS WELL IN CONTROL. HOW DO WE TRADE THIS?','','inherit','open','closed','','3350-revision-v1','','','2014-03-22 07:25:17','2014-03-22 12:25:17','',3350,'https://weeklyfxdrivethru.com/3350-revision-v1/',0,'revision','',0),(3361,1,'2014-03-22 07:53:19','2014-03-22 12:53:19','','MANAGING RISK','','inherit','open','closed','','managing-risk','','','2014-03-22 07:53:19','2014-03-22 12:53:19','',3350,'https://weeklyfxdrivethru.com/wp-content/uploads/2014/03/MANAGING-RISK.pdf',0,'attachment','application/pdf',0),(3365,1,'2014-03-22 07:57:28','2014-03-22 12:57:28','<section class=\"pdf-links\">\r\n<div class=\"one-third first\"></div>\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/02/TRADING-WITH-ATRs.pdf\">TRADING WITH ATR\'s</a>\r\n<div class=\"one-third\"></div>\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/02/HEDGING.pdf\">HEDGING</a>\r\n<div class=\"one-third\"></div>\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/02/CREATING-A-TRADING-PLAN-3.0.pdf\">CREATING A TRADING PLAN</a>\r\n<div class=\"one-third\"></div>\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/03/FOLLOWING-YOUR-TRADING-PLAN-.pdf\">FOLLOWING YOUR TRADING PLAN</a>\r\n<div class=\"one-third\"></div>\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/03/PLANNING-YOUR-TRADES-2.0.pdf\">PLANNING YOUR TRADES (2.0)</a>\r\n<div class=\"one-third\"></div>\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/03/MANAGING-RISK.pdf\">MANAGING RISK</a>\r\n<div class=\"one-third\"></div>\r\n<div class=\"one-half first\">These resources are in PDF format that will allow for easy printing</div>\r\n</section>','Trading Essentials','','inherit','open','closed','','2538-revision-v1','','','2014-03-22 07:57:28','2014-03-22 12:57:28','',2538,'https://weeklyfxdrivethru.com/2538-revision-v1/',0,'revision','',0),(3372,1,'2014-03-29 13:58:12','2014-03-29 18:58:12','<p style=\"text-align: left;\" align=\"center\"><b><span style=\"text-decoration: underline;\">1. INTRODUCTION:</span></b></p>\r\nI just want to start this week ‘s blog by re-iterating what I have said a couple of times this week already regarding the current market trading conditions.\r\n\r\nFor about the last 4-5 weeks trading Forex has become very difficult, inter-market correlations are not working as they used to and it is very hard to get a directional trend, as we appear to be more often that not in a chop fest. If you are able to keep your head above water and survive in these difficult conditions…well done. Times will change, but for now, it is sometimes best to stay sidelined, or, if you feel that you must be in the market, trade very small position sizes.\r\n\r\nAt the start of the week China PMi missed and the AUD rallied; this should have been a huge red flag for what was to come. We seem to be in a market environment that continually requires support and stimulus to keep the wheels moving. China looks like it is going to provide market support as the GDP target that constantly seems to be revised lower and then revised lower again is not going to hit even 7%. In fact, it looks like it may be closer to 6% than 7%.\r\n\r\nThat said, plus, the fact that many inter-market correlations are not working, it has been a very difficult market to trade. I find it difficult when basic relationships do not work, i.e. Gold falls and the AUD/USD rises, relationships like this make it harder to achieve a clarity in trading, making sense of market moves can be difficult and frustrating and annoying as no real trend is established.\r\n\r\nThe Circus show at the ECB continued with several members of the ECB board speaking (before Draghi) about the continued strength of the EUR/USD and that “Negative interest rates” and “ Asset Purchases/Loans” from banks could be bought as options open to the ECB to dive stimulus through the Eurozone. Draghi’s turn came around to speak and he was weaker than the other board members all he said was that the ECB was ready to act if inflation slipped lower than expected. Verbal intervention seems to be all the ECB is capable of and quite frankly it is now “The boy that cried wolf”.\r\n\r\nPeriphery 10-year bond yields are at 8 year lows in Spain, 4 year lows in Portugal and Italian debt is low as well. Progress is being made, however, unemployment is at record highs and CPi is way below the objective. The Eurozone is suffering with deflation.\r\n\r\nWill Draghi act this week at the ECB meeting?\r\n\r\nThe EUR/USD is painfully high for most exporters within the single currency area and Merkel and the Bundesbank are only interested in inflation, well they are only interested in Germany first, and then the rest of the Eurozone.\r\n\r\nThe target inflation rate for the Eurozone is 2%\r\n<p style=\"text-align: left;\">Yesterday (Friday) the following CPi figures were released: -<b>\r\n</b><b>Saxony (German Region):            Actual 0.9%             Expected 1.2%\r\n</b><b>Spain:                                                   Actual -0.2%            Expected 0.1%</b></p>\r\nIf you were Draghi pouring out your cornflakes at breakfast and you read these numbers you would hardly be doing a “skippity do dah walk” into the office. These numbers are crap and follow on a long line of similar crap numbers that the ECB has failed to act upon because they are incapable of action because their hands are tied by Germany.\r\n\r\nJust do not expect the ECB to be pro-active; they will be getting several cans ready for Thursday’s press conference to kick down the road and then afterwards they will bury their heads in the sand once more.\r\n\r\nThe above numbers would have most central banks frothing at the mouth to act….not the ECB. The Eurozone CPi data has been consistently poor for sometime, I just wish I knew what it would actually take for more than verbal intervention and continual denials of deflation for intervention to take place.\r\n\r\nThe PREMIUM SERVICE continues to make a profit each month but in March, reflective of the market conditions only about 25% of the normal profits were seen. Plus, in March, I was away in Dublin for one week and did not trade. Nevertheless, the market conditions took the average monthly figures lower. I am happy with the fact a profit was made in March because at one time I thought it was going to be a zero contribution month.\r\n\r\nIn addition on Monday morning PREMIUM SERVICE subscribers will receive in the secure section of the website were this blog is found a DAILY FX POST with any trade set-ups that I am looking at. This should be ready before Wall Street opens for business each day. This will replace some of the lengthy twitter posts.\r\n\r\n<b><span style=\"text-decoration: underline;\"> </span></b>\r\n\r\n<b><span style=\"text-decoration: underline;\">2. TRADING SUMMARY:</span></b>\r\n<p align=\"center\"><b><span style=\"text-decoration: underline;\">RADAR, FLASH and FUNDAMENTAL TRADES\r\n</span></b><b><span style=\"text-decoration: underline;\">MARCH 2014 and YEAR to date:</span></b></p>\r\nBelow I show the up to date performances for my various trading styles. Full excel spreadsheets are in the subscriber area of the PREMIUM SERVICE.\r\n<p align=\"center\"><b><span style=\"text-decoration: underline;\">RADAR TRADES – MARCH 2014:\r\n</span></b><b><span style=\"text-decoration: underline;\">PROFITS FROM SINGLE LOT COMPLETED RADAR TRADES:</span></b></p>\r\n<p align=\"center\">1 x MICRO-LOT:\r\n10 trades at $0.10 cents each = $1.00 risk for $5.00 profit.</p>\r\n<p align=\"center\">1 x MINI-LOT:\r\n10 trades at $1.00 each = $10.00 risk for $50.00 profit.</p>\r\n<p align=\"center\">1 x STANDARD LOT:\r\n10 trades at $10.00 each = $100.00 risk for $500.00 profit.</p>\r\n<p align=\"center\"><b><span style=\"text-decoration: underline;\">FLASH TRADES – MARCH 2014:\r\n</span></b><b><span style=\"text-decoration: underline;\">PROFITS FROM SINGLE LOT COMPLETED FLASH TRADES:</span></b></p>\r\n<p align=\"center\">1 x MICRO-LOT:\r\n19 trades at $0.10 cents each = $1.90 cents risk for $29.80 profit.</p>\r\n<p align=\"center\">1 x MINI-LOT:\r\n19 trades at $1.00 each = $19.00 risk for $298.00 profit.</p>\r\n<p align=\"center\">1 x STANDARD LOT:\r\n19 trades at $10.00 each = $190.00 risk for $2,980.00 profit.<b style=\"line-height: 1.5em;\"><span style=\"text-decoration: underline;\"> </span></b></p>\r\n<p align=\"center\"><b><span style=\"text-decoration: underline;\">FUNDAMENTAL TRADES – MARCH 2014:\r\n</span></b><b><span style=\"text-decoration: underline;\">PROFITS FROM SINGLE LOT COMPLETED FUNDAMENTAL TRADES:</span></b></p>\r\n<p align=\"center\">1 x MICRO-LOT:\r\n2 trades at $0.10 cents each = $0.20 cents risk for $9.60 loss.</p>\r\n<p align=\"center\">1 x MINI-LOT:\r\n2 trades at $1.00 each = $2.00 risk for $96.00 loss.</p>\r\n<p align=\"center\">1 x STANDARD LOT:\r\n2 trades at $10.00 each = $20.00 risk for $960.00 loss</p>\r\n<p align=\"center\"><b><span style=\"text-decoration: underline;\">COMBINED FLASH, RADAR AND FUNDAMENTAL TRADES PROFIT PERFORMANCE\r\n</span></b><b><span style=\"text-decoration: underline;\">MARCH 2014…SO FAR:</span></b></p>\r\n<p align=\"center\">TRADING MICRO-LOTS:\r\n31 trades at $0.10 cents each = $3.10 risk for $25.20 profit.</p>\r\n<p align=\"center\">TRADING MINI-LOTS:\r\n31 trades at $1.00 each = $31.00 risk for $252.00 profit.</p>\r\n<p align=\"center\">TRADING STANDARD LOTS:\r\n31 trades at $10.00 each = $310.00 risk for $2,520.00 profit.</p>\r\n<p align=\"center\"><b><span style=\"text-decoration: underline;\">COMBINED FLASH, RADAR AND FUNDAMENTAL TRADES PROFIT PERFORMANCE\r\n</span></b><b><span style=\"text-decoration: underline;\">TOTAL 2014…SO FAR:</span></b></p>\r\n<p align=\"center\">TRADING MICRO-LOTS:\r\n140 trades at $0.10 cents each = $14.00 risk for $203.50 profit.</p>\r\n<p align=\"center\">TRADING MINI-LOTS:\r\n140 trades at $1.00 each = $140.00 risk for $2,035.00 profit.</p>\r\n<p align=\"center\">TRADING STANDARD LOTS:\r\n140 trades at $10.00 each = $1,400.00 risk for $20,350.00 profit</p>\r\nThe above examples are for illustration purposes only:\r\n\r\nThe profitability examples detailed above are based solely upon single lot trading, regardless of lot type. If multiple lot sizes are traded the profitability margins will be different than those shown.\r\n\r\nJust to provide more information so you understand where I am coming from with the risk / reward statements above. All of my trades are of different sizes and different size lot types. The above does not reflect the actual trading performance. I like to add to trades, profits are taken as the trade progresses and my overall cost average moves several times. All of my trades are of different lot styles. I trade a mixture of micro lots, mini lots and standard lots across my brokers.\r\n\r\nThe above results simply display your profit or loss if you placed a single lot trade on all the set-ups suggested and did nothing else.\r\n\r\n&nbsp;\r\n\r\n<b><span style=\"text-decoration: underline;\">3. THE FUNDAMENTAL TRADERS OVERVIEW:</span></b>\r\n<p align=\"center\"><b>THE SMART MONEY IS EXITING EQUITIES NOW</b></p>\r\nI have written many times of late regarding the markets being twitchy. We see moves up in the S&amp;P to highs and a little bit beyond. Then it pulls back a little. A day later we open up and it is sold into and we pull back. This pattern is repeated for two maybe three days and then we start again with another test of S&amp;P highs. If you look at the week just gone; Monday, Tuesday, Wednesday and Friday the S&amp;P experienced selling into market opening strength, only on Thursday did this not happen. The week before I noticed this pattern starting.\r\n\r\nWhy is this happening?\r\n\r\nIs there something other than normal trading to consider?\r\n\r\nI think so because I believe the smart money is selling into the strength in a very low-key way. The markets have so many correlations that are not working or changing at the moment meaning there is a general air of pullback anticipation in the markets.\r\n\r\nIf you were investing in equities right now you would have to be so selective jumping on board at these very elevated levels. What makes me more certain that the clever people are reducing their exposure is that there are many reports now that private money is coming back into equities. It is a well-known fact that private individuals (The “Ma and Pa” investor), buy at the tops and sell at the bottoms.\r\n\r\nNews events such as the Ukraine I thought may have triggered something more of a market pullback / correction. I thought the same of tapering. I mean, the U.S. FED is making a massive change in monetary policy and the market reaction is to shrug its shoulders. I do not think that the Ukraine situation is over yet and it could be the catalyst that sparks an equity market pullback / correction.\r\n\r\nLooking ahead, we have high beta news events on the horizon from the ECB and Japan. I think that only FEAR will spark an equity market pullback now…economic data whether good or bad is irrelevant.\r\n\r\nOn 1<sup>st</sup> April Japan raises sales tax for the first time in 13 years. The last time that Japan did this we had a period of stagnation and then deflation. Shinzo Abe (Japanese Prime Minister) will be hoping for a different reaction this time and I would expect a bit of Yen volatility.\r\n\r\nThe ECB has a press conference and interest rate decision this Thursday. I have already highlighted poor CPi data and the fact there has been talk of easing in one form or another by the ECB board members. Maybe this Thursday Draghi will act, who knows?\r\n\r\nThis will be an important meeting for the ECB as the stakes are very high. This may be the catalyst that starts the USD strength (that has been talked about for months now) to come through the markets.\r\n\r\nJPY volatility may be increased, around the sales tax increase and the cross–rate effect across most majors will get dragged in.\r\n\r\nI am not saying that people are withdrawing money out of equities ahead of these two pieces of news. It is well documented that most of Wall Street is expecting that the grind higher in equities has to stop at some stage. There is no denying that the markets are twitchy.\r\n\r\nIf the Ukraine kicks off again and Putin decides to openly threaten to cut off the gas supply because he gets bored with the Obama and Eurozone positioning on sanctions, this would be the straw that breaks the camels back.\r\n\r\nThere are a lot of “what ifs” in this piece. The “cashing out” has started it just needs a good bite of FEAR to hit investors and the equity markets will oblige very easily with a correction.\r\n\r\nThis is just something to be aware of and to trade accordingly. The commodity currencies should come off the rails in spectacular fashion if a market correction begins. The Forex charts that are very messy to read at the moment will show clarity once again.\r\n\r\n&nbsp;\r\n\r\n<b><span style=\"text-decoration: underline;\">4. TRADER TOPICS:</span></b>\r\n<p align=\"center\"><b><span style=\"text-decoration: underline;\">STOP PLACEMENT:</span></b></p>\r\nStops are a crucial, very important tool in trading. They allow us as traders to control the amount we risk on a given trade and often prevent a loss from spiraling out of control.\r\n\r\nIt is such an important discipline when trading that I can’t imagine placing a trade without a stop. Given, that my style is to assess risk before even placing a trade, entering a stop is just completely an automatic discipline.\r\n\r\nInexperienced traders will often trade without stops. When you try to find out their reasons, it is difficult to understand other than there is fear that if they place a stop and are “STOPPED OUT” it is an admission of being wrong. Traders are wrong all the time. You simply cannot operate at a 100% profitable trades rate. New traders learn to place stops after a few big losses so this initial approach is soon rectified.\r\n\r\nWhen placing a stop (I have written about this in several TRADER TOPIC sections of the PREMIUM SERVICE blog over the past few weeks) it is vital that it is done on the basis that the stop level and the risk tolerance involved is within your TRADING PLAN guidelines. I have started to talk about MICRO versus MINI versus STANDARD when it comes to lot sizes and will add more on this subject in the coming weeks when I write about brokers and how many to use and for what reasons.\r\n\r\nBasically the stop is based on one or more of the following parameters: - Previous High or Low, round numbers, Average True Range (ATR), Pivot points or a Fibonacci level.\r\n\r\nEach currency pair trades at a different volume and therefore it is not a standard amount of pips for each stop. Research is required and risk is assessed before the trade is placed. So you will know before placing a trade:\r\n<ol>\r\n	<li>The Pair you are going to trade.</li>\r\n	<li>Examine the RISK TOLERANCE you have via your TRADING PLAN</li>\r\n	<li>Check where the entry and exit levels should be. (Fibonacci Level, Pivot Point, Trend Line Support or Resistance) I always add a few pips +10/+20 depending upon the pair to cover stop loss runs to the levels chosen.</li>\r\n	<li>Count the pips</li>\r\n	<li>Calculate the amount of lots you can trade.</li>\r\n	<li>Maybe enter on a lower number of lots and decide when you will add to your position. This also limits risk (initially) this approach should be documented in your TRADING PLAN.</li>\r\n</ol>\r\nI am NOT a lover of trailing stops. They do not cover whipsaws in the market unless they are huge and then my point is why trade with massive trailing stops?\r\n\r\nOne point that I have not mentioned when placing stops is that if you have calculated your stop on key technical data you can walk away from your computer knowing that you have done your homework to the best of your ability and if you are STOPPED OUT well that\'s just it…. what more could you have done given your research.\r\n\r\nThere are times that I move my stop but very rarely. It is a bad practice and reflects poor judgment at the outset of placing a trade.\r\n\r\nWith regards to my FUNDAMENTAL trades I do allow for hedging on these trades and I enter them on the basis that they will be trades of months rather than days and as such I am entering these trades establishing core positions to add and remove lots until I am happy. FUNDAMENTAL trades would normally have stops wider than monthly ATR’s and I hedge if required.\r\n\r\nWhen I place the vast majority of my stops, I will primarily use Fibonacci levels and/or Pivot points. Some other thoughts weigh in (depending upon the currency pair) such as significant highs/lows and trend lines. Trend lines are great and chart patterns around trend lines. More often than not Fibonacci levels offer great placing of stops levels, but not all the time. The thing to do is not to get too subjective when placing stops. Being objective is more important.\r\n\r\nSetting stops is not always easy, and being honest it is the most subjective aspect of our trading methodology. I hope that this short piece shed some light on what I look for when placing stops.\r\n\r\n<b></b><b style=\"line-height: 1.5em;\"> </b>\r\n\r\n<b><span style=\"text-decoration: underline;\">5. MY CURRENT LIVE TRADES:</span></b>\r\n\r\n<b><span style=\"text-decoration: underline;\">FLASH TRADES:</span></b>\r\n\r\nI have no LIVE FLASH trades at the moment.\r\n\r\n<b><span style=\"text-decoration: underline;\">RADAR TRADES:</span></b>\r\n\r\nI have no LIVE RADAR trades at the moment.\r\n\r\n<b><span style=\"text-decoration: underline;\">FUNDAMENTAL TRADES:</span></b>\r\n\r\n<strong>FUN14 (This trade is hedged from -150 pips)</strong>\r\n<strong>GBP/NZD</strong>\r\n<strong>Long</strong>\r\n<strong>Cost Average: 1.9950</strong>\r\n<strong>Stop Loss: 1.9000</strong>\r\n<strong>Limit / Target: 2.2350</strong>\r\n<strong>My Position Size: 7.5%</strong>\r\n<strong>Closing Weekly Position: 1.9197</strong>\r\n<strong><span style=\"line-height: 1.5em;\">My present Profit/Loss position: - 753 pips</span></strong>\r\n\r\n<b><span style=\"text-decoration: underline;\">6. TRADES THAT ARE ON MY RADAR:</span></b>\r\n\r\nThere are not a great number of trades on my radar this week. These will hopefully evolve as the week progresses. I am not trading for the sake of trading.\r\n\r\n<strong>USD/CAD</strong>\r\n<strong> Long  </strong>\r\n<strong> Limit order entry: 1.0970</strong>\r\n<strong>Stop Loss: 1.0940</strong>\r\n<strong><span style=\"line-height: 1.5em;\">Limit: 1.1600 (Long Term)</span></strong>\r\n\r\n<strong>CAD/CHF</strong>\r\n<strong> Long  </strong>\r\n<strong> Limit order entry: 1.7950 (50% fib retracement)</strong>\r\n<strong>Stop Loss: 1.7900 (just below 61.8% fib level)</strong>\r\n<strong><span style=\"line-height: 1.5em;\">Limit: 1.8090</span></strong>\r\n\r\n<strong>EUR/CAD</strong>\r\n<strong> Long  </strong>\r\n<strong> Limit order entry: 1.5050</strong>\r\n<strong>Stop Loss: 1.4950</strong>\r\n<strong><span style=\"line-height: 1.5em;\">Limit: 1.5600 (initial target)</span></strong>\r\n\r\n&nbsp;\r\n\r\n<b><span style=\"text-decoration: underline;\">7. LOOKING FORWARD…THE KEY SUPPORT &amp; RESISTANCE LEVELS WITH THE USD MAJORS:</span></b>\r\n\r\n<b>EUR/USD: Closing Price 1.3752.</b>  We are definitely heading for a breakout with this pair. We are trading in a nice range that once broken should only give clarity to this pair but by being the most liquid pair in the Fx market it should help the whole market move. Beware of false breakouts, but the range is 1.3700 to 1.3795. Above 1.3795 and we are back with 1.3970 being resistance.\r\n\r\n<b>GBP/USD: Closing Price 1.6638. </b>The cable is operating in a very tight range like the EUR/USD, 1.6600 support to resistance 1.6650.\r\n\r\n<b>AUD/USD: Closing Price 0.9250</b>. All of the USD majors are in tight ranges. The AUD/USD is 0.9210 to 0.9300. We are attempting to play out an inverted head and shoulders pattern, which, the whole world has on their radar at the moment. The measured move to play this pattern to completion is a move up to 0.9500. I hope that it gets there although if the past few days are anything to go by it will neither be easy or straightforward. But, should this pair reach the dizzy heights of 0.9500…what a great place to re-enter short back to 0.8000.\r\n\r\n<b>NZD/USD: Closing Price 0.8656</b>.  We are in areas that have only been seen once before. Resistance is at 0.8700 (52 week high 0.8693). Support is a long way below the present levels at 0.8575.\r\n\r\n<b>USD/CAD: Closing Price 1.1059.</b>  I was hoping for a supporting trend line re-test before this pair would resume a move to the long side.  Yesterday it bounced off 1.1000. I was looking for a move to above 1.0950-70 as being the area to enter long. We will have to wait and see what happens next. Support is at 1.0970 and resistance initially is at 1.1080.\r\n\r\n<b>USD/CHF: Closing Price 0.8867</b>.  Last week we witnessed a savage rejection at 0.8900 after a very bullish move to try to take that figure. It has pulled back to consolidate once again. The range to watch out for is 0.8815 to 0.8900.\r\n\r\n<b>USD/JPY: Closing Price 102.82.  </b>What a pointless pair to trade. No movement and a tight range. Maybe the sales tax hike this week will spark life into the pair? The range is 101.70 to 103.50.<b></b>\r\n\r\n<b> </b><b style=\"line-height: 1.5em;\"><span style=\"text-decoration: underline;\">\r\n</span></b>\r\n\r\n<b><span style=\"text-decoration: underline;\">8. MAJOR FOREX NEWS THIS WEEK THAT INTERESTS ME:</span></b>\r\n\r\nSUNDAY: N/A.\r\n\r\nMONDAY: EUR – CPi.\r\nMONDAY: CAD – GDP.\r\nMONDAY: CNY – Manufacturing PMi and HSBC Manufacturing PMi.\r\n<span style=\"line-height: 1.5em;\">MONDAY: AUD – RBA Rate Statement and Cash Rate.</span>\r\n\r\nTUESDAY: N/A.\r\n\r\nWEDNESDAY: USD – ADP Non-Farm Employment Change.\r\nWEDNESDAY: AUD – Retail Sales, Trade Balance and RBA Stevens speaks.\r\n\r\nTHURSDAY: EUR – Interest Rates and ECB Press Conference.\r\n\r\nFRIDAY: USD – Non-Farm Employment Change and Unemployment Rate.\r\nFRIDAY: CAD – Employment Change, Unemployment Rate &amp; Ivey PMi.<b></b>\r\n\r\n<b><span style=\"text-decoration: underline;\"> </span></b>\r\n\r\n<b><span style=\"text-decoration: underline;\">9. FINAL THOUGHTS:</span></b>\r\n\r\nThere is a big week ahead with high-level news events in Australia, Japan, China, Europe, Canada and the USA.\r\n\r\nPersonally, I will not be in as many trades as usual and those trades that I am in will be smaller position sizes to reflect the poor trading conditions that we have at the moment.\r\n\r\nThis is not a time not to be a hero. Do not try to pick tops or bottoms just go with the flow and trade if you see an opportunity. Do not force trades let them come to you? The market will change and things will revert to more normal trading conditions again but in the interim period if you can stay out of trades, take a break. There will be plenty of opportunities in the future to trade without getting heavily involved when the risks associated are with trading Forex are elevated.\r\n\r\nTake care and good luck. Be careful with position sizes.\r\n\r\nScott Pickering\r\nThe Pip Accumulator\r\nSaturday March 29th 2014\r\n\r\nEMAIL / FOLLOW ME AT:\r\npremiumservice@weeklyfxdrivethru.com\r\nTwitter: @pipaccumulator\r\nTwitter: @ThePremService\r\n<span style=\"line-height: 1.5em;\">Google+/scottpickering\r\n</span><span style=\"line-height: 1.5em;\">StockTwits; thepipaccumulator</span>\r\n\r\n&nbsp;','THE SMART MONEY IS EXITING EQUITIES NOW','','inherit','open','closed','','3371-revision-v1','','','2014-03-29 13:58:12','2014-03-29 18:58:12','',3371,'https://weeklyfxdrivethru.com/3371-revision-v1/',0,'revision','',0),(3373,1,'2014-03-29 13:59:28','2014-03-29 18:59:28','<p style=\"text-align: left;\" align=\"center\"><b><span style=\"text-decoration: underline;\">1. INTRODUCTION:</span></b></p>\r\nI just want to start this week ‘s blog by re-iterating what I have said a couple of times this week already regarding the current market trading conditions.\r\n\r\nFor about the last 4-5 weeks trading Forex has become very difficult, inter-market correlations are not working as they used to and it is very hard to get a directional trend, as we appear to be more often that not in a chop fest. If you are able to keep your head above water and survive in these difficult conditions…well done. Times will change, but for now, it is sometimes best to stay sidelined, or, if you feel that you must be in the market, trade very small position sizes.\r\n\r\nAt the start of the week China PMi missed and the AUD rallied; this should have been a huge red flag for what was to come. We seem to be in a market environment that continually requires support and stimulus to keep the wheels moving. China looks like it is going to provide market support as the GDP target that constantly seems to be revised lower and then revised lower again is not going to hit even 7%. In fact, it looks like it may be closer to 6% than 7%.\r\n\r\nThat said, plus, the fact that many inter-market correlations are not working, it has been a very difficult market to trade. I find it difficult when basic relationships do not work, i.e. Gold falls and the AUD/USD rises, relationships like this make it harder to achieve a clarity in trading, making sense of market moves can be difficult and frustrating and annoying as no real trend is established.\r\n\r\nThe Circus show at the ECB continued with several members of the ECB board speaking (before Draghi) about the continued strength of the EUR/USD and that “Negative interest rates” and “ Asset Purchases/Loans” from banks could be bought as options open to the ECB to dive stimulus through the Eurozone. Draghi’s turn came around to speak and he was weaker than the other board members all he said was that the ECB was ready to act if inflation slipped lower than expected. Verbal intervention seems to be all the ECB is capable of and quite frankly it is now “The boy that cried wolf”.\r\n\r\nPeriphery 10-year bond yields are at 8 year lows in Spain, 4 year lows in Portugal and Italian debt is low as well. Progress is being made, however, unemployment is at record highs and CPi is way below the objective. The Eurozone is suffering with deflation.\r\n\r\nWill Draghi act this week at the ECB meeting?\r\n\r\nThe EUR/USD is painfully high for most exporters within the single currency area and Merkel and the Bundesbank are only interested in inflation, well they are only interested in Germany first, and then the rest of the Eurozone.\r\n\r\nThe target inflation rate for the Eurozone is 2%\r\n<p style=\"text-align: left;\">Yesterday (Friday) the following CPi figures were released: -<b>\r\n</b><b>Saxony (German Region):            Actual 0.9%             Expected 1.2%\r\n</b><b>Spain:                                                   Actual -0.2%            Expected 0.1%</b></p>\r\nIf you were Draghi pouring out your cornflakes at breakfast and you read these numbers you would hardly be doing a “skippity do dah walk” into the office. These numbers are crap and follow on a long line of similar crap numbers that the ECB has failed to act upon because they are incapable of action because their hands are tied by Germany.\r\n\r\nJust do not expect the ECB to be pro-active; they will be getting several cans ready for Thursday’s press conference to kick down the road and then afterwards they will bury their heads in the sand once more.\r\n\r\nThe above numbers would have most central banks frothing at the mouth to act….not the ECB. The Eurozone CPi data has been consistently poor for sometime, I just wish I knew what it would actually take for more than verbal intervention and continual denials of deflation for intervention to take place.\r\n\r\nThe PREMIUM SERVICE continues to make a profit each month but in March, reflective of the market conditions only about 25% of the normal profits were seen. Plus, in March, I was away in Dublin for one week and did not trade. Nevertheless, the market conditions took the average monthly figures lower. I am happy with the fact a profit was made in March because at one time I thought it was going to be a zero contribution month.\r\n\r\nIn addition on Monday morning PREMIUM SERVICE subscribers will receive in the secure section of the website were this blog is found a DAILY FX POST with any trade set-ups that I am looking at. This should be ready before Wall Street opens for business each day. This will replace some of the lengthy twitter posts.\r\n\r\n<b><span style=\"text-decoration: underline;\"> </span></b>\r\n\r\n<b><span style=\"text-decoration: underline;\">2. TRADING SUMMARY:</span></b>\r\n<p align=\"center\"><b><span style=\"text-decoration: underline;\">RADAR, FLASH and FUNDAMENTAL TRADES\r\n</span></b><b><span style=\"text-decoration: underline;\">MARCH 2014 and YEAR to date:</span></b></p>\r\n<p style=\"text-align: center;\">Below I show the up to date performances for my various trading styles. Full excel spreadsheets are in the subscriber area of the PREMIUM SERVICE.</p>\r\n<p align=\"center\"><b><span style=\"text-decoration: underline;\">RADAR TRADES – MARCH 2014:\r\n</span></b><b><span style=\"text-decoration: underline;\">PROFITS FROM SINGLE LOT COMPLETED RADAR TRADES:</span></b></p>\r\n<p align=\"center\">1 x MICRO-LOT:\r\n10 trades at $0.10 cents each = $1.00 risk for $5.00 profit.</p>\r\n<p align=\"center\">1 x MINI-LOT:\r\n10 trades at $1.00 each = $10.00 risk for $50.00 profit.</p>\r\n<p align=\"center\">1 x STANDARD LOT:\r\n10 trades at $10.00 each = $100.00 risk for $500.00 profit.</p>\r\n<p align=\"center\"><b><span style=\"text-decoration: underline;\">FLASH TRADES – MARCH 2014:\r\n</span></b><b><span style=\"text-decoration: underline;\">PROFITS FROM SINGLE LOT COMPLETED FLASH TRADES:</span></b></p>\r\n<p align=\"center\">1 x MICRO-LOT:\r\n19 trades at $0.10 cents each = $1.90 cents risk for $29.80 profit.</p>\r\n<p align=\"center\">1 x MINI-LOT:\r\n19 trades at $1.00 each = $19.00 risk for $298.00 profit.</p>\r\n<p align=\"center\">1 x STANDARD LOT:\r\n19 trades at $10.00 each = $190.00 risk for $2,980.00 profit.<b style=\"line-height: 1.5em;\"><span style=\"text-decoration: underline;\"> </span></b></p>\r\n<p align=\"center\"><b><span style=\"text-decoration: underline;\">FUNDAMENTAL TRADES – MARCH 2014:\r\n</span></b><b><span style=\"text-decoration: underline;\">PROFITS FROM SINGLE LOT COMPLETED FUNDAMENTAL TRADES:</span></b></p>\r\n<p align=\"center\">1 x MICRO-LOT:\r\n2 trades at $0.10 cents each = $0.20 cents risk for $9.60 loss.</p>\r\n<p align=\"center\">1 x MINI-LOT:\r\n2 trades at $1.00 each = $2.00 risk for $96.00 loss.</p>\r\n<p align=\"center\">1 x STANDARD LOT:\r\n2 trades at $10.00 each = $20.00 risk for $960.00 loss</p>\r\n<p align=\"center\"><b><span style=\"text-decoration: underline;\">COMBINED FLASH, RADAR AND FUNDAMENTAL TRADES PROFIT PERFORMANCE\r\n</span></b><b><span style=\"text-decoration: underline;\">MARCH 2014…SO FAR:</span></b></p>\r\n<p align=\"center\">TRADING MICRO-LOTS:\r\n31 trades at $0.10 cents each = $3.10 risk for $25.20 profit.</p>\r\n<p align=\"center\">TRADING MINI-LOTS:\r\n31 trades at $1.00 each = $31.00 risk for $252.00 profit.</p>\r\n<p align=\"center\">TRADING STANDARD LOTS:\r\n31 trades at $10.00 each = $310.00 risk for $2,520.00 profit.</p>\r\n<p align=\"center\"><b><span style=\"text-decoration: underline;\">COMBINED FLASH, RADAR AND FUNDAMENTAL TRADES PROFIT PERFORMANCE\r\n</span></b><b><span style=\"text-decoration: underline;\">TOTAL 2014…SO FAR:</span></b></p>\r\n<p align=\"center\">TRADING MICRO-LOTS:\r\n140 trades at $0.10 cents each = $14.00 risk for $203.50 profit.</p>\r\n<p align=\"center\">TRADING MINI-LOTS:\r\n140 trades at $1.00 each = $140.00 risk for $2,035.00 profit.</p>\r\n<p align=\"center\">TRADING STANDARD LOTS:\r\n140 trades at $10.00 each = $1,400.00 risk for $20,350.00 profit</p>\r\nThe above examples are for illustration purposes only:\r\n\r\nThe profitability examples detailed above are based solely upon single lot trading, regardless of lot type. If multiple lot sizes are traded the profitability margins will be different than those shown.\r\n\r\nJust to provide more information so you understand where I am coming from with the risk / reward statements above. All of my trades are of different sizes and different size lot types. The above does not reflect the actual trading performance. I like to add to trades, profits are taken as the trade progresses and my overall cost average moves several times. All of my trades are of different lot styles. I trade a mixture of micro lots, mini lots and standard lots across my brokers.\r\n\r\nThe above results simply display your profit or loss if you placed a single lot trade on all the set-ups suggested and did nothing else.\r\n\r\n&nbsp;\r\n\r\n<b><span style=\"text-decoration: underline;\">3. THE FUNDAMENTAL TRADERS OVERVIEW:</span></b>\r\n<p align=\"center\"><b>THE SMART MONEY IS EXITING EQUITIES NOW</b></p>\r\nI have written many times of late regarding the markets being twitchy. We see moves up in the S&amp;P to highs and a little bit beyond. Then it pulls back a little. A day later we open up and it is sold into and we pull back. This pattern is repeated for two maybe three days and then we start again with another test of S&amp;P highs. If you look at the week just gone; Monday, Tuesday, Wednesday and Friday the S&amp;P experienced selling into market opening strength, only on Thursday did this not happen. The week before I noticed this pattern starting.\r\n\r\nWhy is this happening?\r\n\r\nIs there something other than normal trading to consider?\r\n\r\nI think so because I believe the smart money is selling into the strength in a very low-key way. The markets have so many correlations that are not working or changing at the moment meaning there is a general air of pullback anticipation in the markets.\r\n\r\nIf you were investing in equities right now you would have to be so selective jumping on board at these very elevated levels. What makes me more certain that the clever people are reducing their exposure is that there are many reports now that private money is coming back into equities. It is a well-known fact that private individuals (The “Ma and Pa” investor), buy at the tops and sell at the bottoms.\r\n\r\nNews events such as the Ukraine I thought may have triggered something more of a market pullback / correction. I thought the same of tapering. I mean, the U.S. FED is making a massive change in monetary policy and the market reaction is to shrug its shoulders. I do not think that the Ukraine situation is over yet and it could be the catalyst that sparks an equity market pullback / correction.\r\n\r\nLooking ahead, we have high beta news events on the horizon from the ECB and Japan. I think that only FEAR will spark an equity market pullback now…economic data whether good or bad is irrelevant.\r\n\r\nOn 1<sup>st</sup> April Japan raises sales tax for the first time in 13 years. The last time that Japan did this we had a period of stagnation and then deflation. Shinzo Abe (Japanese Prime Minister) will be hoping for a different reaction this time and I would expect a bit of Yen volatility.\r\n\r\nThe ECB has a press conference and interest rate decision this Thursday. I have already highlighted poor CPi data and the fact there has been talk of easing in one form or another by the ECB board members. Maybe this Thursday Draghi will act, who knows?\r\n\r\nThis will be an important meeting for the ECB as the stakes are very high. This may be the catalyst that starts the USD strength (that has been talked about for months now) to come through the markets.\r\n\r\nJPY volatility may be increased, around the sales tax increase and the cross–rate effect across most majors will get dragged in.\r\n\r\nI am not saying that people are withdrawing money out of equities ahead of these two pieces of news. It is well documented that most of Wall Street is expecting that the grind higher in equities has to stop at some stage. There is no denying that the markets are twitchy.\r\n\r\nIf the Ukraine kicks off again and Putin decides to openly threaten to cut off the gas supply because he gets bored with the Obama and Eurozone positioning on sanctions, this would be the straw that breaks the camels back.\r\n\r\nThere are a lot of “what ifs” in this piece. The “cashing out” has started it just needs a good bite of FEAR to hit investors and the equity markets will oblige very easily with a correction.\r\n\r\nThis is just something to be aware of and to trade accordingly. The commodity currencies should come off the rails in spectacular fashion if a market correction begins. The Forex charts that are very messy to read at the moment will show clarity once again.\r\n\r\n&nbsp;\r\n\r\n<b><span style=\"text-decoration: underline;\">4. TRADER TOPICS:</span></b>\r\n<p align=\"center\"><b><span style=\"text-decoration: underline;\">STOP PLACEMENT:</span></b></p>\r\nStops are a crucial, very important tool in trading. They allow us as traders to control the amount we risk on a given trade and often prevent a loss from spiraling out of control.\r\n\r\nIt is such an important discipline when trading that I can’t imagine placing a trade without a stop. Given, that my style is to assess risk before even placing a trade, entering a stop is just completely an automatic discipline.\r\n\r\nInexperienced traders will often trade without stops. When you try to find out their reasons, it is difficult to understand other than there is fear that if they place a stop and are “STOPPED OUT” it is an admission of being wrong. Traders are wrong all the time. You simply cannot operate at a 100% profitable trades rate. New traders learn to place stops after a few big losses so this initial approach is soon rectified.\r\n\r\nWhen placing a stop (I have written about this in several TRADER TOPIC sections of the PREMIUM SERVICE blog over the past few weeks) it is vital that it is done on the basis that the stop level and the risk tolerance involved is within your TRADING PLAN guidelines. I have started to talk about MICRO versus MINI versus STANDARD when it comes to lot sizes and will add more on this subject in the coming weeks when I write about brokers and how many to use and for what reasons.\r\n\r\nBasically the stop is based on one or more of the following parameters: - Previous High or Low, round numbers, Average True Range (ATR), Pivot points or a Fibonacci level.\r\n\r\nEach currency pair trades at a different volume and therefore it is not a standard amount of pips for each stop. Research is required and risk is assessed before the trade is placed. So you will know before placing a trade:\r\n<ol>\r\n	<li>The Pair you are going to trade.</li>\r\n	<li>Examine the RISK TOLERANCE you have via your TRADING PLAN</li>\r\n	<li>Check where the entry and exit levels should be. (Fibonacci Level, Pivot Point, Trend Line Support or Resistance) I always add a few pips +10/+20 depending upon the pair to cover stop loss runs to the levels chosen.</li>\r\n	<li>Count the pips</li>\r\n	<li>Calculate the amount of lots you can trade.</li>\r\n	<li>Maybe enter on a lower number of lots and decide when you will add to your position. This also limits risk (initially) this approach should be documented in your TRADING PLAN.</li>\r\n</ol>\r\nI am NOT a lover of trailing stops. They do not cover whipsaws in the market unless they are huge and then my point is why trade with massive trailing stops?\r\n\r\nOne point that I have not mentioned when placing stops is that if you have calculated your stop on key technical data you can walk away from your computer knowing that you have done your homework to the best of your ability and if you are STOPPED OUT well that\'s just it…. what more could you have done given your research.\r\n\r\nThere are times that I move my stop but very rarely. It is a bad practice and reflects poor judgment at the outset of placing a trade.\r\n\r\nWith regards to my FUNDAMENTAL trades I do allow for hedging on these trades and I enter them on the basis that they will be trades of months rather than days and as such I am entering these trades establishing core positions to add and remove lots until I am happy. FUNDAMENTAL trades would normally have stops wider than monthly ATR’s and I hedge if required.\r\n\r\nWhen I place the vast majority of my stops, I will primarily use Fibonacci levels and/or Pivot points. Some other thoughts weigh in (depending upon the currency pair) such as significant highs/lows and trend lines. Trend lines are great and chart patterns around trend lines. More often than not Fibonacci levels offer great placing of stops levels, but not all the time. The thing to do is not to get too subjective when placing stops. Being objective is more important.\r\n\r\nSetting stops is not always easy, and being honest it is the most subjective aspect of our trading methodology. I hope that this short piece shed some light on what I look for when placing stops.\r\n\r\n<b></b><b style=\"line-height: 1.5em;\"> </b>\r\n\r\n<b><span style=\"text-decoration: underline;\">5. MY CURRENT LIVE TRADES:</span></b>\r\n\r\n<b><span style=\"text-decoration: underline;\">FLASH TRADES:</span></b>\r\n\r\nI have no LIVE FLASH trades at the moment.\r\n\r\n<b><span style=\"text-decoration: underline;\">RADAR TRADES:</span></b>\r\n\r\nI have no LIVE RADAR trades at the moment.\r\n\r\n<b><span style=\"text-decoration: underline;\">FUNDAMENTAL TRADES:</span></b>\r\n\r\n<strong>FUN14 (This trade is hedged from -150 pips)</strong>\r\n<strong>GBP/NZD</strong>\r\n<strong>Long</strong>\r\n<strong>Cost Average: 1.9950</strong>\r\n<strong>Stop Loss: 1.9000</strong>\r\n<strong>Limit / Target: 2.2350</strong>\r\n<strong>My Position Size: 7.5%</strong>\r\n<strong>Closing Weekly Position: 1.9197</strong>\r\n<strong><span style=\"line-height: 1.5em;\">My present Profit/Loss position: - 753 pips</span></strong>\r\n\r\n<b><span style=\"text-decoration: underline;\">6. TRADES THAT ARE ON MY RADAR:</span></b>\r\n\r\nThere are not a great number of trades on my radar this week. These will hopefully evolve as the week progresses. I am not trading for the sake of trading.\r\n\r\n<strong>USD/CAD</strong>\r\n<strong> Long  </strong>\r\n<strong> Limit order entry: 1.0970</strong>\r\n<strong>Stop Loss: 1.0940</strong>\r\n<strong><span style=\"line-height: 1.5em;\">Limit: 1.1600 (Long Term)</span></strong>\r\n\r\n<strong>CAD/CHF</strong>\r\n<strong> Long  </strong>\r\n<strong> Limit order entry: 1.7950 (50% fib retracement)</strong>\r\n<strong>Stop Loss: 1.7900 (just below 61.8% fib level)</strong>\r\n<strong><span style=\"line-height: 1.5em;\">Limit: 1.8090</span></strong>\r\n\r\n<strong>EUR/CAD</strong>\r\n<strong> Long  </strong>\r\n<strong> Limit order entry: 1.5050</strong>\r\n<strong>Stop Loss: 1.4950</strong>\r\n<strong><span style=\"line-height: 1.5em;\">Limit: 1.5600 (initial target)</span></strong>\r\n\r\n&nbsp;\r\n\r\n<b><span style=\"text-decoration: underline;\">7. LOOKING FORWARD…THE KEY SUPPORT &amp; RESISTANCE LEVELS WITH THE USD MAJORS:</span></b>\r\n\r\n<b>EUR/USD: Closing Price 1.3752.</b>  We are definitely heading for a breakout with this pair. We are trading in a nice range that once broken should only give clarity to this pair but by being the most liquid pair in the Fx market it should help the whole market move. Beware of false breakouts, but the range is 1.3700 to 1.3795. Above 1.3795 and we are back with 1.3970 being resistance.\r\n\r\n<b>GBP/USD: Closing Price 1.6638. </b>The cable is operating in a very tight range like the EUR/USD, 1.6600 support to resistance 1.6650.\r\n\r\n<b>AUD/USD: Closing Price 0.9250</b>. All of the USD majors are in tight ranges. The AUD/USD is 0.9210 to 0.9300. We are attempting to play out an inverted head and shoulders pattern, which, the whole world has on their radar at the moment. The measured move to play this pattern to completion is a move up to 0.9500. I hope that it gets there although if the past few days are anything to go by it will neither be easy or straightforward. But, should this pair reach the dizzy heights of 0.9500…what a great place to re-enter short back to 0.8000.\r\n\r\n<b>NZD/USD: Closing Price 0.8656</b>.  We are in areas that have only been seen once before. Resistance is at 0.8700 (52 week high 0.8693). Support is a long way below the present levels at 0.8575.\r\n\r\n<b>USD/CAD: Closing Price 1.1059.</b>  I was hoping for a supporting trend line re-test before this pair would resume a move to the long side.  Yesterday it bounced off 1.1000. I was looking for a move to above 1.0950-70 as being the area to enter long. We will have to wait and see what happens next. Support is at 1.0970 and resistance initially is at 1.1080.\r\n\r\n<b>USD/CHF: Closing Price 0.8867</b>.  Last week we witnessed a savage rejection at 0.8900 after a very bullish move to try to take that figure. It has pulled back to consolidate once again. The range to watch out for is 0.8815 to 0.8900.\r\n\r\n<b>USD/JPY: Closing Price 102.82.  </b>What a pointless pair to trade. No movement and a tight range. Maybe the sales tax hike this week will spark life into the pair? The range is 101.70 to 103.50.<b></b>\r\n\r\n<b> </b><b style=\"line-height: 1.5em;\"><span style=\"text-decoration: underline;\">\r\n</span></b>\r\n\r\n<b><span style=\"text-decoration: underline;\">8. MAJOR FOREX NEWS THIS WEEK THAT INTERESTS ME:</span></b>\r\n\r\nSUNDAY: N/A.\r\n\r\nMONDAY: EUR – CPi.\r\nMONDAY: CAD – GDP.\r\nMONDAY: CNY – Manufacturing PMi and HSBC Manufacturing PMi.\r\n<span style=\"line-height: 1.5em;\">MONDAY: AUD – RBA Rate Statement and Cash Rate.</span>\r\n\r\nTUESDAY: N/A.\r\n\r\nWEDNESDAY: USD – ADP Non-Farm Employment Change.\r\nWEDNESDAY: AUD – Retail Sales, Trade Balance and RBA Stevens speaks.\r\n\r\nTHURSDAY: EUR – Interest Rates and ECB Press Conference.\r\n\r\nFRIDAY: USD – Non-Farm Employment Change and Unemployment Rate.\r\nFRIDAY: CAD – Employment Change, Unemployment Rate &amp; Ivey PMi.<b></b>\r\n\r\n<b><span style=\"text-decoration: underline;\"> </span></b>\r\n\r\n<b><span style=\"text-decoration: underline;\">9. FINAL THOUGHTS:</span></b>\r\n\r\nThere is a big week ahead with high-level news events in Australia, Japan, China, Europe, Canada and the USA.\r\n\r\nPersonally, I will not be in as many trades as usual and those trades that I am in will be smaller position sizes to reflect the poor trading conditions that we have at the moment.\r\n\r\nThis is not a time not to be a hero. Do not try to pick tops or bottoms just go with the flow and trade if you see an opportunity. Do not force trades let them come to you? The market will change and things will revert to more normal trading conditions again but in the interim period if you can stay out of trades, take a break. There will be plenty of opportunities in the future to trade without getting heavily involved when the risks associated are with trading Forex are elevated.\r\n\r\nTake care and good luck. Be careful with position sizes.\r\n\r\nScott Pickering\r\nThe Pip Accumulator\r\nSaturday March 29th 2014\r\n\r\nEMAIL / FOLLOW ME AT:\r\npremiumservice@weeklyfxdrivethru.com\r\nTwitter: @pipaccumulator\r\nTwitter: @ThePremService\r\n<span style=\"line-height: 1.5em;\">Google+/scottpickering\r\n</span><span style=\"line-height: 1.5em;\">StockTwits; thepipaccumulator</span>\r\n\r\n&nbsp;','THE SMART MONEY IS EXITING EQUITIES NOW','','inherit','open','closed','','3371-revision-v1','','','2014-03-29 13:59:28','2014-03-29 18:59:28','',3371,'https://weeklyfxdrivethru.com/3371-revision-v1/',0,'revision','',0),(3486,1,'2014-04-15 06:40:08','2014-04-15 11:40:08','Good Morning,\r\n\r\nWill it be Turnaround Tuesday?\r\n\r\nNot so sure there is a lot of FED speak today so we need to be prepared for a USD rally...maybe.\r\n\r\nGold selling off aggressively and on the daily chart we are in a flag pattern pointing towards $1200.00. Bear this in mind.\r\n\r\nEUR/USD toying with 1.3800. If we breakdown thru 1.3700 this I reckon will really drive USD strength. But I refer to short the EUR/USD back up around 1.3950 / 1.4000.\r\n\r\nThe USD/SEK is breaking out above 6.5700. I tweeted entries on this pair overnight. If you took this trade like me you should be sitting pretty like I am right now.\r\n\r\nI have just entered the following trade: -\r\n\r\nSEK/JPY\r\nShort\r\nEntry 15.46\r\nStop Loss 16.12\r\nLimit 14.75\r\n\r\nI have also amended a lint order with one of my brokers on the following trade: -\r\n\r\nEUR/SEK\r\nLong\r\nLimit order entry 9.0740\r\nStop Loss 9.0413\r\nLimit 9.5534\r\n\r\nSweden is in a deflationary state. Hence these trades and my interest in the SEK.\r\n\r\nOvernight, I also entered (and tweeted) NZD/USD short, I have already taken good profits (tweeted)  and it has now gone negative....I still think that the USD /commodity currencies are starting to gain momentum. I looked at the commodity crosses but the charts look too messy for my trading style. I will look again soon and report.\r\n\r\nI missed the GBP and EUR news a slept through them, sorry.\r\n\r\nBe careful today, with the news and there is big CNY news tonight....looking forward.\r\n\r\nHave fun,\r\n\r\nScott','#12 - THE DAILY FX POST, Tuesday 15th April 2014','','publish','open','closed','','12-daily-fx-post-tuesday-15th-april-2014','','','2014-04-15 06:40:08','2014-04-15 11:40:08','',0,'https://weeklyfxdrivethru.com/?post_type=member_posts&#038;p=3486',0,'member_posts','',0),(3375,1,'2014-03-29 14:15:25','2014-03-29 19:15:25','<p style=\"text-align: left;\" align=\"center\"><b><span style=\"text-decoration: underline;\">1. INTRODUCTION:</span></b></p>\r\nI just want to start this week ‘s blog by re-iterating what I have said a couple of times this week already regarding the current market trading conditions.\r\n\r\nFor about the last 4-5 weeks trading Forex has become very difficult, inter-market correlations are not working as they used to and it is very hard to get a directional trend, as we appear to be more often that not in a chop fest. If you are able to keep your head above water and survive in these difficult conditions…well done. Times will change, but for now, it is sometimes best to stay sidelined, or, if you feel that you must be in the market, trade very small position sizes.\r\n\r\nAt the start of the week China PMi missed and the AUD rallied; this should have been a huge red flag for what was to come. We seem to be in a market environment that continually requires support and stimulus to keep the wheels moving. China looks like it is going to provide market support as the GDP target that constantly seems to be revised lower and then revised lower again is not going to hit even 7%. In fact, it looks like it may be closer to 6% than 7%.\r\n\r\nThat said, plus, the fact that many inter-market correlations are not working, it has been a very difficult market to trade. I find it difficult when basic relationships do not work, i.e. Gold falls and the AUD/USD rises, relationships like this make it harder to achieve a clarity in trading, making sense of market moves can be difficult and frustrating and annoying as no real trend is established.\r\n\r\nThe Circus show at the ECB continued with several members of the ECB board speaking (before Draghi) about the continued strength of the EUR/USD and that “Negative interest rates” and “ Asset Purchases/Loans” from banks could be bought as options open to the ECB to dive stimulus through the Eurozone. Draghi’s turn came around to speak and he was weaker than the other board members all he said was that the ECB was ready to act if inflation slipped lower than expected. Verbal intervention seems to be all the ECB is capable of and quite frankly it is now “The boy that cried wolf”.\r\n\r\nPeriphery 10-year bond yields are at 8 year lows in Spain, 4 year lows in Portugal and Italian debt is low as well. Progress is being made, however, unemployment is at record highs and CPi is way below the objective. The Eurozone is suffering with deflation.\r\n\r\nWill Draghi act this week at the ECB meeting?\r\n\r\nThe EUR/USD is painfully high for most exporters within the single currency area and Merkel and the Bundesbank are only interested in inflation, well they are only interested in Germany first, and then the rest of the Eurozone.\r\n\r\nThe target inflation rate for the Eurozone is 2%\r\n\r\nYesterday (Friday) the following CPi figures were released: -\r\n\r\n<b></b><b>Saxony (German Region):            Actual 0.9%             Expected 1.2%\r\n</b><b>Spain:                                                Actual -0.2%            Expected 0.1%</b>\r\n\r\nIf you were Draghi pouring out your cornflakes at breakfast and you read these numbers you would hardly be doing a “skippity do dah walk” into the office. These numbers are crap and follow on a long line of similar crap numbers that the ECB has failed to act upon because they are incapable of action because their hands are tied by Germany.\r\n\r\nJust do not expect the ECB to be pro-active; they will be getting several cans ready for Thursday’s press conference to kick down the road and then afterwards they will bury their heads in the sand once more.\r\n\r\nThe above numbers would have most central banks frothing at the mouth to act….not the ECB. The Eurozone CPi data has been consistently poor for sometime, I just wish I knew what it would actually take for more than verbal intervention and continual denials of deflation for intervention to take place.\r\n\r\nThe PREMIUM SERVICE continues to make a profit each month but in March, reflective of the market conditions only about 25% of the normal profits were seen. Plus, in March, I was away in Dublin for one week and did not trade. Nevertheless, the market conditions took the average monthly figures lower. I am happy with the fact a profit was made in March because at one time I thought it was going to be a zero contribution month.\r\n\r\nIn addition on Monday morning PREMIUM SERVICE subscribers will receive in the secure section of the website were this blog is found a DAILY FX POST with any trade set-ups that I am looking at. This should be ready before Wall Street opens for business each day. This will replace some of the lengthy twitter posts.\r\n\r\nFor more information on the PREMIUM SERVICE go to www.weeklyfxdrivethru.com and click on all the various references to the PREMIUM SERVICE. You will find profitability statements and full data on what the PREMIUM SERVICE can do to help you with your trading.\r\n\r\n<b><span style=\"text-decoration: underline;\"> </span></b>\r\n\r\n<b><span style=\"text-decoration: underline;\">2. THE VIEW FROM MY TRADING DESK:</span></b>\r\n<p align=\"center\"><b>THE SMART MONEY IS EXITING EQUITIES NOW</b></p>\r\nI have written many times of late regarding the markets being twitchy. We see moves up in the S&amp;P to highs and a little bit beyond. Then it pulls back a little. A day later we open up and it is sold into and we pull back. This pattern is repeated for two maybe three days and then we start again with another test of S&amp;P highs. If you look at the week just gone; Monday, Tuesday, Wednesday and Friday the S&amp;P experienced selling into market opening strength, only on Thursday did this not happen. The week before I noticed this pattern starting.\r\n\r\nWhy is this happening?\r\n\r\nIs there something other than normal trading to consider?\r\n\r\nI think so because I believe the smart money is selling into the strength in a very low-key way. The markets have so many correlations that are not working or changing at the moment meaning there is a general air of pullback anticipation in the markets.\r\n\r\nIf you were investing in equities right now you would have to be so selective jumping on board at these very elevated levels. What makes me more certain that the clever people are reducing their exposure is that there are many reports now that private money is coming back into equities. It is a well-known fact that private individuals (The “Ma and Pa” investor), buy at the tops and sell at the bottoms.\r\n\r\nNews events such as the Ukraine I thought may have triggered something more of a market pullback / correction. I thought the same of tapering. I mean, the U.S. FED is making a massive change in monetary policy and the market reaction is to shrug its shoulders. I do not think that the Ukraine situation is over yet and it could be the catalyst that sparks an equity market pullback / correction.\r\n\r\nLooking ahead, we have high beta news events on the horizon from the ECB and Japan. I think that only FEAR will spark an equity market pullback now…economic data whether good or bad is irrelevant.\r\n\r\nOn 1<sup>st</sup> April Japan raises sales tax for the first time in 13 years. The last time that Japan did this we had a period of stagnation and then deflation. Shinzo Abe (Japanese Prime Minister) will be hoping for a different reaction this time and I would expect a bit of Yen volatility.\r\n\r\nThe ECB has a press conference and interest rate decision this Thursday. I have already highlighted poor CPi data and the fact there has been talk of easing in one form or another by the ECB board members. Maybe this Thursday Draghi will act, who knows?\r\n\r\nThis will be an important meeting for the ECB as the stakes are very high. This may be the catalyst that starts the USD strength (that has been talked about for months now) to come through the markets.\r\n\r\nJPY volatility may be increased, around the sales tax increase and the cross–rate effect across most majors will get dragged in.\r\n\r\nI am not saying that people are withdrawing money out of equities ahead of these two pieces of news. It is well documented that most of Wall Street is expecting that the grind higher in equities has to stop at some stage. There is no denying that the markets are twitchy.\r\n\r\nIf the Ukraine kicks off again and Putin decides to openly threaten to cut off the gas supply because he gets bored with the Obama and Eurozone positioning on sanctions, this would be the straw that breaks the camels back.\r\n\r\nThere are a lot of “what ifs” in this piece. The “cashing out” has started it just needs a good bite of FEAR to hit investors and the equity markets will oblige very easily with a correction.\r\n\r\nThis is just something to be aware of and to trade accordingly. The commodity currencies should come off the rails in spectacular fashion if a market correction begins. The Forex charts that are very messy to read at the moment will show clarity once again.\r\n\r\n<b></b><b><span style=\"text-decoration: underline;\">\r\n</span></b>\r\n\r\n<b><span style=\"text-decoration: underline;\">3. LOOKING FORWARD…THE KEY SUPPORT &amp; RESISTANCE LEVELS WITH THE USD MAJORS:</span></b>\r\n\r\n<b>EUR/USD: Closing Price 1.3752.</b>  We are definitely heading for a breakout with this pair. We are trading in a nice range that once broken should only give clarity to this pair but by being the most liquid pair in the Fx market it should help the whole market move. Beware of false breakouts, but the range is 1.3700 to 1.3795. Above 1.3795 and we are back with 1.3970 being resistance.\r\n\r\n<b>GBP/USD: Closing Price 1.6638. </b>The cable is operating in a very tight range like the EUR/USD, 1.6600 support to resistance 1.6650.\r\n\r\n<b>AUD/USD: Closing Price 0.9250</b>. All of the USD majors are in tight ranges. The AUD/USD is 0.9210 to 0.9300. We are attempting to play out an inverted head and shoulders pattern, which, the whole world has on their radar at the moment. The measured move to play this pattern to completion is a move up to 0.9500. I hope that it gets there although if the past few days are anything to go by it will neither be easy or straightforward. But, should this pair reach the dizzy heights of 0.9500…what a great place to re-enter short back to 0.8000.\r\n\r\n<b>NZD/USD: Closing Price 0.8656</b>.  We are in areas that have only been seen once before. Resistance is at 0.8700 (52 week high 0.8693). Support is a long way below the present levels at 0.8575.\r\n\r\n<b>USD/CAD: Closing Price 1.1059.</b>  I was hoping for a supporting trend line re-test before this pair would resume a move to the long side.  Yesterday it bounced off 1.1000. I was looking for a move to above 1.0950-70 as being the area to enter long. We will have to wait and see what happens next. Support is at 1.0970 and resistance initially is at 1.1080.<b> </b>\r\n\r\n<b>USD/CHF: Closing Price 0.8867</b>.  Last week we witnessed a savage rejection at 0.8900 after a very bullish move to try to take that figure. It has pulled back to consolidate once again. The range to watch out for is 0.8815 to 0.8900.\r\n\r\n<b>USD/JPY: Closing Price 102.82.  </b>What a pointless pair to trade. No movement and a tight range. Maybe the sales tax hike this week will spark life into the pair? The range is 101.70 to 103.50.<b></b>\r\n\r\n<b> </b>\r\n\r\n<b><span style=\"text-decoration: underline;\">4. MAJOR FOREX NEWS THIS WEEK THAT INTERESTS ME:</span></b>\r\n\r\nSUNDAY: N/A.\r\n\r\nMONDAY: EUR – CPi.\r\nMONDAY: CAD – GDP.\r\nMONDAY: CNY – Manufacturing PMi and HSBC Manufacturing PMi.\r\n<span style=\"line-height: 1.5em;\">MONDAY: AUD – RBA Rate Statement and Cash Rate.</span>\r\n\r\nTUESDAY: N/A.\r\n\r\nWEDNESDAY: USD – ADP Non-Farm Employment Change.\r\nWEDNESDAY: AUD – Retail Sales, Trade Balance and RBA Stevens speaks.\r\n\r\nTHURSDAY: EUR – Interest Rates and ECB Press Conference.\r\n\r\nFRIDAY: USD – Non-Farm Employment Change and Unemployment Rate.\r\nFRIDAY: CAD – Employment Change, Unemployment Rate &amp; Ivey PMi<b></b>\r\n\r\n<b><span style=\"text-decoration: underline;\"> </span></b>\r\n\r\n<b><span style=\"text-decoration: underline;\">5. FINAL THOUGHTS:</span></b>\r\n\r\nThere is a big week ahead with high-level news events in Australia, Japan, China, Europe, Canada and the USA.\r\n\r\nPersonally, I will not be in as many trades as usual and those trades that I am in will be smaller position sizes to reflect the poor trading conditions that we have at the moment.\r\n\r\nThis is not a time not to be a hero. Do not try to pick tops or bottoms just go with the flow and trade if you see an opportunity. Do not force trades let them come to you? The market will change and things will revert to more normal trading conditions again but in the interim period if you can stay out of trades, take a break. There will be plenty of opportunities in the future to trade without getting heavily involved when the risks associated are with trading Forex are elevated.\r\n\r\nTake care and good luck. Be careful with position sizes.\r\n\r\nScott Pickering\r\nThe Pip Accumulator\r\nSaturday March 29th 2014\r\n\r\nEMAIL / FOLLOW ME AT:\r\ndrivethru@weeklyfxdrivethru.com\r\nTwitter: @pipaccumulator\r\nGoogle+/scottpickering\r\nStockTwits; thepipaccumulator\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n&nbsp;','THE SMART MONEY IS EXITING EQUITIES NOW','','publish','open','closed','','smart-money-exiting-equities-now','','','2014-03-29 14:15:25','2014-03-29 19:15:25','',0,'https://weeklyfxdrivethru.com/?p=3375',0,'post','',0),(3376,1,'2014-03-29 14:14:47','2014-03-29 19:14:47','<p style=\"text-align: left;\" align=\"center\"><b><span style=\"text-decoration: underline;\">1. INTRODUCTION:</span></b></p>\r\nI just want to start this week ‘s blog by re-iterating what I have said a couple of times this week already regarding the current market trading conditions.\r\n\r\nFor about the last 4-5 weeks trading Forex has become very difficult, inter-market correlations are not working as they used to and it is very hard to get a directional trend, as we appear to be more often that not in a chop fest. If you are able to keep your head above water and survive in these difficult conditions…well done. Times will change, but for now, it is sometimes best to stay sidelined, or, if you feel that you must be in the market, trade very small position sizes.\r\n\r\nAt the start of the week China PMi missed and the AUD rallied; this should have been a huge red flag for what was to come. We seem to be in a market environment that continually requires support and stimulus to keep the wheels moving. China looks like it is going to provide market support as the GDP target that constantly seems to be revised lower and then revised lower again is not going to hit even 7%. In fact, it looks like it may be closer to 6% than 7%.\r\n\r\nThat said, plus, the fact that many inter-market correlations are not working, it has been a very difficult market to trade. I find it difficult when basic relationships do not work, i.e. Gold falls and the AUD/USD rises, relationships like this make it harder to achieve a clarity in trading, making sense of market moves can be difficult and frustrating and annoying as no real trend is established.\r\n\r\nThe Circus show at the ECB continued with several members of the ECB board speaking (before Draghi) about the continued strength of the EUR/USD and that “Negative interest rates” and “ Asset Purchases/Loans” from banks could be bought as options open to the ECB to dive stimulus through the Eurozone. Draghi’s turn came around to speak and he was weaker than the other board members all he said was that the ECB was ready to act if inflation slipped lower than expected. Verbal intervention seems to be all the ECB is capable of and quite frankly it is now “The boy that cried wolf”.\r\n\r\nPeriphery 10-year bond yields are at 8 year lows in Spain, 4 year lows in Portugal and Italian debt is low as well. Progress is being made, however, unemployment is at record highs and CPi is way below the objective. The Eurozone is suffering with deflation.\r\n\r\nWill Draghi act this week at the ECB meeting?\r\n\r\nThe EUR/USD is painfully high for most exporters within the single currency area and Merkel and the Bundesbank are only interested in inflation, well they are only interested in Germany first, and then the rest of the Eurozone.\r\n\r\nThe target inflation rate for the Eurozone is 2%\r\n\r\nYesterday (Friday) the following CPi figures were released: -\r\n\r\n<b></b><b>Saxony (German Region):            Actual 0.9%             Expected 1.2%\r\n</b><b>Spain:                                                Actual -0.2%            Expected 0.1%</b>\r\n\r\nIf you were Draghi pouring out your cornflakes at breakfast and you read these numbers you would hardly be doing a “skippity do dah walk” into the office. These numbers are crap and follow on a long line of similar crap numbers that the ECB has failed to act upon because they are incapable of action because their hands are tied by Germany.\r\n\r\nJust do not expect the ECB to be pro-active; they will be getting several cans ready for Thursday’s press conference to kick down the road and then afterwards they will bury their heads in the sand once more.\r\n\r\nThe above numbers would have most central banks frothing at the mouth to act….not the ECB. The Eurozone CPi data has been consistently poor for sometime, I just wish I knew what it would actually take for more than verbal intervention and continual denials of deflation for intervention to take place.\r\n\r\nThe PREMIUM SERVICE continues to make a profit each month but in March, reflective of the market conditions only about 25% of the normal profits were seen. Plus, in March, I was away in Dublin for one week and did not trade. Nevertheless, the market conditions took the average monthly figures lower. I am happy with the fact a profit was made in March because at one time I thought it was going to be a zero contribution month.\r\n\r\nIn addition on Monday morning PREMIUM SERVICE subscribers will receive in the secure section of the website were this blog is found a DAILY FX POST with any trade set-ups that I am looking at. This should be ready before Wall Street opens for business each day. This will replace some of the lengthy twitter posts.\r\n\r\nFor more information on the PREMIUM SERVICE go to www.weeklyfxdrivethru.com and click on all the various references to the PREMIUM SERVICE. You will find profitability statements and full data on what the PREMIUM SERVICE can do to help you with your trading.\r\n\r\n<b><span style=\"text-decoration: underline;\"> </span></b>\r\n\r\n<b><span style=\"text-decoration: underline;\">2. THE VIEW FROM MY TRADING DESK:</span></b>\r\n<p align=\"center\"><b>THE SMART MONEY IS EXITING EQUITIES NOW</b></p>\r\nI have written many times of late regarding the markets being twitchy. We see moves up in the S&amp;P to highs and a little bit beyond. Then it pulls back a little. A day later we open up and it is sold into and we pull back. This pattern is repeated for two maybe three days and then we start again with another test of S&amp;P highs. If you look at the week just gone; Monday, Tuesday, Wednesday and Friday the S&amp;P experienced selling into market opening strength, only on Thursday did this not happen. The week before I noticed this pattern starting.\r\n\r\nWhy is this happening?\r\n\r\nIs there something other than normal trading to consider?\r\n\r\nI think so because I believe the smart money is selling into the strength in a very low-key way. The markets have so many correlations that are not working or changing at the moment meaning there is a general air of pullback anticipation in the markets.\r\n\r\nIf you were investing in equities right now you would have to be so selective jumping on board at these very elevated levels. What makes me more certain that the clever people are reducing their exposure is that there are many reports now that private money is coming back into equities. It is a well-known fact that private individuals (The “Ma and Pa” investor), buy at the tops and sell at the bottoms.\r\n\r\nNews events such as the Ukraine I thought may have triggered something more of a market pullback / correction. I thought the same of tapering. I mean, the U.S. FED is making a massive change in monetary policy and the market reaction is to shrug its shoulders. I do not think that the Ukraine situation is over yet and it could be the catalyst that sparks an equity market pullback / correction.\r\n\r\nLooking ahead, we have high beta news events on the horizon from the ECB and Japan. I think that only FEAR will spark an equity market pullback now…economic data whether good or bad is irrelevant.\r\n\r\nOn 1<sup>st</sup> April Japan raises sales tax for the first time in 13 years. The last time that Japan did this we had a period of stagnation and then deflation. Shinzo Abe (Japanese Prime Minister) will be hoping for a different reaction this time and I would expect a bit of Yen volatility.\r\n\r\nThe ECB has a press conference and interest rate decision this Thursday. I have already highlighted poor CPi data and the fact there has been talk of easing in one form or another by the ECB board members. Maybe this Thursday Draghi will act, who knows?\r\n\r\nThis will be an important meeting for the ECB as the stakes are very high. This may be the catalyst that starts the USD strength (that has been talked about for months now) to come through the markets.\r\n\r\nJPY volatility may be increased, around the sales tax increase and the cross–rate effect across most majors will get dragged in.\r\n\r\nI am not saying that people are withdrawing money out of equities ahead of these two pieces of news. It is well documented that most of Wall Street is expecting that the grind higher in equities has to stop at some stage. There is no denying that the markets are twitchy.\r\n\r\nIf the Ukraine kicks off again and Putin decides to openly threaten to cut off the gas supply because he gets bored with the Obama and Eurozone positioning on sanctions, this would be the straw that breaks the camels back.\r\n\r\nThere are a lot of “what ifs” in this piece. The “cashing out” has started it just needs a good bite of FEAR to hit investors and the equity markets will oblige very easily with a correction.\r\n\r\nThis is just something to be aware of and to trade accordingly. The commodity currencies should come off the rails in spectacular fashion if a market correction begins. The Forex charts that are very messy to read at the moment will show clarity once again.\r\n\r\n<b></b><b><span style=\"text-decoration: underline;\">\r\n</span></b>\r\n\r\n<b><span style=\"text-decoration: underline;\">3. LOOKING FORWARD…THE KEY SUPPORT &amp; RESISTANCE LEVELS WITH THE USD MAJORS:</span></b>\r\n\r\n<b>EUR/USD: Closing Price 1.3752.</b>  We are definitely heading for a breakout with this pair. We are trading in a nice range that once broken should only give clarity to this pair but by being the most liquid pair in the Fx market it should help the whole market move. Beware of false breakouts, but the range is 1.3700 to 1.3795. Above 1.3795 and we are back with 1.3970 being resistance.\r\n\r\n<b>GBP/USD: Closing Price 1.6638. </b>The cable is operating in a very tight range like the EUR/USD, 1.6600 support to resistance 1.6650.\r\n\r\n<b>AUD/USD: Closing Price 0.9250</b>. All of the USD majors are in tight ranges. The AUD/USD is 0.9210 to 0.9300. We are attempting to play out an inverted head and shoulders pattern, which, the whole world has on their radar at the moment. The measured move to play this pattern to completion is a move up to 0.9500. I hope that it gets there although if the past few days are anything to go by it will neither be easy or straightforward. But, should this pair reach the dizzy heights of 0.9500…what a great place to re-enter short back to 0.8000.\r\n\r\n<b>NZD/USD: Closing Price 0.8656</b>.  We are in areas that have only been seen once before. Resistance is at 0.8700 (52 week high 0.8693). Support is a long way below the present levels at 0.8575.\r\n\r\n<b>USD/CAD: Closing Price 1.1059.</b>  I was hoping for a supporting trend line re-test before this pair would resume a move to the long side.  Yesterday it bounced off 1.1000. I was looking for a move to above 1.0950-70 as being the area to enter long. We will have to wait and see what happens next. Support is at 1.0970 and resistance initially is at 1.1080.<b> </b>\r\n\r\n<b>USD/CHF: Closing Price 0.8867</b>.  Last week we witnessed a savage rejection at 0.8900 after a very bullish move to try to take that figure. It has pulled back to consolidate once again. The range to watch out for is 0.8815 to 0.8900.\r\n\r\n<b>USD/JPY: Closing Price 102.82.  </b>What a pointless pair to trade. No movement and a tight range. Maybe the sales tax hike this week will spark life into the pair? The range is 101.70 to 103.50.<b></b>\r\n\r\n<b> </b>\r\n\r\n<b><span style=\"text-decoration: underline;\">4. MAJOR FOREX NEWS THIS WEEK THAT INTERESTS ME:</span></b>\r\n\r\nSUNDAY: N/A.\r\n\r\nMONDAY: EUR – CPi.\r\nMONDAY: CAD – GDP.\r\nMONDAY: CNY – Manufacturing PMi and HSBC Manufacturing PMi.\r\n<span style=\"line-height: 1.5em;\">MONDAY: AUD – RBA Rate Statement and Cash Rate.</span>\r\n\r\nTUESDAY: N/A.\r\n\r\nWEDNESDAY: USD – ADP Non-Farm Employment Change.\r\nWEDNESDAY: AUD – Retail Sales, Trade Balance and RBA Stevens speaks.\r\n\r\nTHURSDAY: EUR – Interest Rates and ECB Press Conference.\r\n\r\nFRIDAY: USD – Non-Farm Employment Change and Unemployment Rate.\r\nFRIDAY: CAD – Employment Change, Unemployment Rate &amp; Ivey PMi<b></b>\r\n\r\n<b><span style=\"text-decoration: underline;\"> </span></b>\r\n\r\n<b><span style=\"text-decoration: underline;\">5. FINAL THOUGHTS:</span></b>\r\n\r\nThere is a big week ahead with high-level news events in Australia, Japan, China, Europe, Canada and the USA.\r\n\r\nPersonally, I will not be in as many trades as usual and those trades that I am in will be smaller position sizes to reflect the poor trading conditions that we have at the moment.\r\n\r\nThis is not a time not to be a hero. Do not try to pick tops or bottoms just go with the flow and trade if you see an opportunity. Do not force trades let them come to you? The market will change and things will revert to more normal trading conditions again but in the interim period if you can stay out of trades, take a break. There will be plenty of opportunities in the future to trade without getting heavily involved when the risks associated are with trading Forex are elevated.\r\n\r\nTake care and good luck. Be careful with position sizes.\r\n\r\nScott Pickering\r\nThe Pip Accumulator\r\nSaturday March 29th 2014\r\n\r\nEMAIL / FOLLOW ME AT:\r\ndrivethru@weeklyfxdrivethru.com\r\nTwitter: @pipaccumulator\r\nGoogle+/scottpickering\r\nStockTwits; thepipaccumulator\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n&nbsp;','THE SMART MONEY IS EXITING EQUITIES NOW','','inherit','open','closed','','3375-revision-v1','','','2014-03-29 14:14:47','2014-03-29 19:14:47','',3375,'https://weeklyfxdrivethru.com/3375-revision-v1/',0,'revision','',0),(3521,1,'2014-04-23 06:38:57','2014-04-23 11:38:57','Good Morning,\r\n\r\nOvernight (for me), China PMi data was poor and overall the EUR PMi data was better than expected.\r\n\r\nI think that it is now 7 days on the bounce that the S&amp;P has climbed off the lows. In the past two weeks or so the S&amp;P has fallen 80 points and then risen back 75 points. These swings in the S&amp;P are not normal, I think more and more traders will soon be side lining themselves. Equity traders will be getting long, then getting shaken out , then getting short and then shaken out once again....we seem to be exploding down then up taking out traders at either end. False breakouts and false breakdowns are just ways of telling us that we are at huge inflection points but sooner or later we will break one way or the other. In the interim traders will get more and more bored without having a direction and losing capital they will exit, or be forced to exit through liquidation. I really hope that we make the true move soon, I am getting as frustrated as everyone else with the chop fest.\r\n\r\nThe EUR/AUD long triggered on price at 1.4850 last night. I think the RBA  following poor AUD data will have shelved any ideas they had of  applying a rate increase. This in my opinion marks a change in the fortunes of the AUD currency and I see the AUD/USD returning to move lower towards 0.8500 once again. Watch the EUR/AUD and GBP/AUD.\r\n\r\nThe EUR/AUD long  triggered.\r\n\r\nI have amended the entry levels on RT66 the AUD/USD short RADAR TRADE that I posted on the 22nd April 2014.\r\nEntry now at 0.9310\r\nStop Loss 0.9390\r\nLimit 0.8500\r\n\r\nWatch the USD/JPY. (yes, Yang, I have all the other JPY short trade levels still in my back pocket).\r\nOf the S&amp;P retracement over the past 7 days the S&amp;P retraced about 80%, whilst the USD/JPY only managed 50%. Should equities now turn lower after such a move higher the USD/JPY will be under pressure given its failure to rally. Should this happen the level of 101.00 will be key support.\r\n\r\nLooking for the SEK and CAD trades to move higher today......\r\n\r\nI will tweet anything that interests me as it happens.\r\n\r\nGood Luck and trade safe. Its still choppy out there.\r\n\r\nScott\r\n\r\n&nbsp;','#16 - THE DAILY FX POST, Wednesday 23rd April 2014','','publish','open','closed','','16-daily-fx-post-wednesday-23rd-april-2014','','','2014-04-23 06:38:57','2014-04-23 11:38:57','',0,'https://weeklyfxdrivethru.com/?post_type=member_posts&#038;p=3521',0,'member_posts','',0),(3383,1,'2014-03-29 14:29:42','2014-03-29 19:29:42','','STOP PLACEMENT','','inherit','open','closed','','stop-placement','','','2014-03-29 14:29:42','2014-03-29 19:29:42','',0,'https://weeklyfxdrivethru.com/wp-content/uploads/2014/03/STOP-PLACEMENT.pdf',0,'attachment','application/pdf',0),(3397,1,'2014-03-29 14:46:23','2014-03-29 19:46:23','<section class=\"pdf-links\">\r\n<div class=\"one-third first\"></div>\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/02/TRADING-WITH-ATRs.pdf\">TRADING WITH ATR\'s</a>\r\n<div class=\"one-third\"></div>\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/02/HEDGING.pdf\">HEDGING</a>\r\n<div class=\"one-third\"></div>\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/02/CREATING-A-TRADING-PLAN-3.0.pdf\">CREATING A TRADING PLAN</a>\r\n<div class=\"one-third\"></div>\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/03/FOLLOWING-YOUR-TRADING-PLAN-.pdf\">FOLLOWING YOUR TRADING PLAN</a>\r\n<div class=\"one-third\"></div>\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/03/PLANNING-YOUR-TRADES-2.0.pdf\">PLANNING YOUR TRADES (2.0)</a>\r\n<div class=\"one-third\"></div>\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/03/MANAGING-RISK.pdf\">MANAGING RISK</a>\r\n<div class=\"one-third\"></div>\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/03/STOP-PLACEMENT.pdf\">STOP PLACEMENT</a>\r\n\r\n<div class=\"one-half first\">These resources are in PDF format that will allow for easy printing</div>\r\n</section>','Trading Essentials','','inherit','open','closed','','2538-revision-v1','','','2014-03-29 14:46:23','2014-03-29 19:46:23','',2538,'https://weeklyfxdrivethru.com/2538-revision-v1/',0,'revision','',0),(3398,1,'2014-03-31 07:24:27','2014-03-31 12:24:27','Welcome to the first DAILY POST.\r\n\r\nThese will be  very brief daily overviews of what is on my mind and what trade set ups are in my thoughts at the beginning of the trading day New York Time.\r\n\r\nRisk appetite appears to be on at the moment this morning......\r\n<ol>\r\n	<li>EUR/USD up on deflationary news? The EZ blaming Easter...beats the weather! Inverted Head and Shoulders  in play on 60M chart targets 1.3840. Not bearish unless below 1.3720.</li>\r\n	<li>Bonds down - Yields up - USD/JPY up. Be careful with JPY expect volatility increase this week with Sales Tax hill in Japan. I expect increased easing in Japan to follow soon.</li>\r\n	<li>CAD GDP is my main event this morning - Looking to pick up USD/CAD below 1.1000. 1.0950-70 ideal but may get no better than 1.0990.</li>\r\n	<li>Still in CAD/CHF long from yesterday. presently -14 pips.</li>\r\n</ol>\r\nI am not over trading early this week I want to measure and gauge market. Waiting for U.S. equities open for direction, see if we sell into strength again.\r\n\r\nCheck out the twitter feed @ThePremService.\r\n\r\nScott','#1 - THE DAILY FX POST, Monday 31st March 2014.','','publish','open','closed','','1-daily-fx-post-monday-31st-march-2014','','','2014-03-31 07:24:27','2014-03-31 12:24:27','',0,'https://weeklyfxdrivethru.com/?post_type=member_posts&#038;p=3398',0,'member_posts','',0),(3399,1,'2014-03-31 06:00:27','2014-03-31 11:00:27','Welcome to the first DAILY POST.\r\n\r\nThese will be  very brief daily overviews of what is on my mind and what trade set ups are in my thoughts at the beginning of the trading day New York Time.','#1 - THE DAILY FX POST, Monday 31st March 2014.','','inherit','open','closed','','3398-revision-v1','','','2014-03-31 06:00:27','2014-03-31 11:00:27','',3398,'https://weeklyfxdrivethru.com/3398-revision-v1/',0,'revision','',0),(3400,1,'2014-03-31 07:24:27','2014-03-31 12:24:27','Welcome to the first DAILY POST.\r\n\r\nThese will be  very brief daily overviews of what is on my mind and what trade set ups are in my thoughts at the beginning of the trading day New York Time.\r\n\r\nRisk appetite appears to be on at the moment this morning......\r\n<ol>\r\n	<li>EUR/USD up on deflationary news? The EZ blaming Easter...beats the weather! Inverted Head and Shoulders  in play on 60M chart targets 1.3840. Not bearish unless below 1.3720.</li>\r\n	<li>Bonds down - Yields up - USD/JPY up. Be careful with JPY expect volatility increase this week with Sales Tax hill in Japan. I expect increased easing in Japan to follow soon.</li>\r\n	<li>CAD GDP is my main event this morning - Looking to pick up USD/CAD below 1.1000. 1.0950-70 ideal but may get no better than 1.0990.</li>\r\n	<li>Still in CAD/CHF long from yesterday. presently -14 pips.</li>\r\n</ol>\r\nI am not over trading early this week I want to measure and gauge market. Waiting for U.S. equities open for direction, see if we sell into strength again.\r\n\r\nCheck out the twitter feed @ThePremService.\r\n\r\nScott','#1 - THE DAILY FX POST, Monday 31st March 2014.','','inherit','open','closed','','3398-revision-v1','','','2014-03-31 07:24:27','2014-03-31 12:24:27','',3398,'https://weeklyfxdrivethru.com/3398-revision-v1/',0,'revision','',0),(3451,1,'2014-04-09 07:24:50','2014-04-09 12:24:50','Good Morning,\r\n\r\nUSD is still very weak......and I think that market is directionally challenged. The only hope that I can see for the USD is a huge dollop of  RISK AVERSION. If we get a \"Dovish\" FOMC this afternoon the USD could be taken to the cleaners, but, we at the same time we are a whisker away from the market correcting. S&amp;P 1830 is crucial support again today.\r\n\r\nHere are my macro thoughts on the majors: -\r\n\r\nEUR /USD - Range is 1.3750 to 1.3830.\r\n\r\nGBP/USD - Not pulling back.\r\n\r\nUSD/JPY - Will lead today and the S&amp;P support at 1830 is critical. Below this level should coincide with the USD/JPY breaking through 101.50.\r\n\r\nUSD/CAD - Just not bouncing.\r\n\r\nAUD/USD  - looks like Head and Shoulders target of 0.9500 may be on after all.\r\n\r\nNZD/USD - looks to me like this is just a momentum move higher. I cannot believe that at these levels its fair value for this currency. All I can think is that the closer we get to 0.9000 the better the short.\r\n\r\nUSD/CHF - Trading range is 0.8800 to 0.8900.\r\n\r\nI am not looking to add to any positions at the moment. We have the FOMC and AUD (Employment Data) later today, so it would be conservative to hold back until after these news items, in my opinion.\r\n\r\nScott','#8 - THE DAILY FX POST, Wednesday 9th April 2014','','publish','open','closed','','8-daily-fx-post-wednesday-9th-april-2014','','','2014-04-09 07:24:50','2014-04-09 12:24:50','',0,'https://weeklyfxdrivethru.com/?post_type=member_posts&#038;p=3451',0,'member_posts','',0),(3409,1,'2014-04-01 07:45:08','2014-04-01 12:45:08','Good Morning / Afternoon / Evening,\r\n\r\nAs you can see I have started to establish core positions in the commodity currencies and two commodity crosses.\r\n\r\nThese are small positions at this stage based upon the fact that the market appears completely underwhelmed by the RBA statement last night not confirming rate hikes or rate reductions. As usual the market is way ahead of it believes and not based upon facts. Not that facts mean much at the moment hence the small entry positions.\r\n\r\nThe AUD/USD if it breaks below 0.9200 and double top measured move to 0.9100 is play. The USD/CAD if it breaks 1.1075 has a double bottom in play to 1.1150.\r\n\r\nI am now  short: AUD/USD and NZD/USD. Long CAD/CHF, EUR/AUD, GBP/AUD and USD/CAD.\r\n\r\nI do not anticipate adding more positions, and frankly, nothing interests me right now until the EUR/USD breaks out of 1.3710 to 1.3850.\r\n\r\nI have two limit orders with the brokers EUR/CAD and AUD/CHF both longs. They are quite a bit away from my proposed entries, I have a t this stage no intention of changing them. I will tweet should this position change.\r\n\r\nDid you see that it once agin appeared that CAD news was pre-released once again?\r\n\r\nScott\r\n\r\n&nbsp;\r\n\r\n&nbsp;','#2 - THE DAILY FX POST, Tuesday 1st April 2014.','','publish','open','closed','','2-daily-fx-post-tuesday-1st-april-2014','','','2014-04-01 07:45:08','2014-04-01 12:45:08','',0,'https://weeklyfxdrivethru.com/?post_type=member_posts&#038;p=3409',0,'member_posts','',0),(3410,1,'2014-04-01 07:45:08','2014-04-01 12:45:08','Good Morning / Afternoon / Evening,\r\n\r\nAs you can see I have started to establish core positions in the commodity currencies and two commodity crosses.\r\n\r\nThese are small positions at this stage based upon the fact that the market appears completely underwhelmed by the RBA statement last night not confirming rate hikes or rate reductions. As usual the market is way ahead of it believes and not based upon facts. Not that facts mean much at the moment hence the small entry positions.\r\n\r\nThe AUD/USD if it breaks below 0.9200 and double top measured move to 0.9100 is play. The USD/CAD if it breaks 1.1075 has a double bottom in play to 1.1150.\r\n\r\nI am now  short: AUD/USD and NZD/USD. Long CAD/CHF, EUR/AUD, GBP/AUD and USD/CAD.\r\n\r\nI do not anticipate adding more positions, and frankly, nothing interests me right now until the EUR/USD breaks out of 1.3710 to 1.3850.\r\n\r\nI have two limit orders with the brokers EUR/CAD and AUD/CHF both longs. They are quite a bit away from my proposed entries, I have a t this stage no intention of changing them. I will tweet should this position change.\r\n\r\nDid you see that it once agin appeared that CAD news was pre-released once again?\r\n\r\nScott\r\n\r\n&nbsp;\r\n\r\n&nbsp;','#2 - THE DAILY FX POST, Tuesday 1st April 2014.','','inherit','open','closed','','3409-revision-v1','','','2014-04-01 07:45:08','2014-04-01 12:45:08','',3409,'https://weeklyfxdrivethru.com/3409-revision-v1/',0,'revision','',0),(3453,1,'2014-04-10 07:18:08','2014-04-10 12:18:08','Good Morning,\r\n\r\nWe are at some very interesting positions globally. The NIKKEI 225 is about 225 points from critical support. A 1% move is required and we are there. A break through support and a major JPY breakdown could be on the cards. I am looking to short properly the USD/JPY.\r\n\r\nI am presently short SEK/JPY on the back of poor Swedish Inflation data overnight, if the JPY breaks down this should be a brilliant trade, but I am ahead of the game slightly.\r\n\r\nI have a limit order with my brokers on the CAD/JPY short (not yet triggered). Watch this space NIKKEI moves and JPY effects could be market moving in monumental style.\r\n\r\nChinese data last night was really poor and i would not rule out this having an effect today. The AUD employment data last night was once again great data.\r\n\r\nCurrently I am live in 8 trades with a pending limit order. This is normally my limit but most of them are very small positions and my RISK MANAGEMENT limits are not yet complete, so if I wish I can take on more risk. No sure I want to apart from the USD/JPY short.\r\n\r\nJust to let you know I have increased my position sizes on the USD/CAD and USD/CHF....happy with CAD not as happy with CHF.\r\n\r\nLets see what today brings, it could be an interesting day. At the time of writing this the NZD/USD is at lows of the day and the USD/CAD is back above 1.0900....just saying but not counting my chickens.\r\n\r\nScott','#9 - THE DAILY FX POST, Thursday 10th April 2014','','publish','open','closed','','9-daily-fx-post-thursday-10th-april-2014','','','2014-04-10 07:18:08','2014-04-10 12:18:08','',0,'https://weeklyfxdrivethru.com/?post_type=member_posts&#038;p=3453',0,'member_posts','',0),(3413,1,'2014-04-02 06:38:59','2014-04-02 11:38:59','Very slow overnight sessions in Asia and Europe.\r\n\r\nThe EUR/USD, GBP/USD and AUD/USD all traded basically 30-40 pip ranges. The USD/JPY took out a few stops towards 103.90 and the USD/CAD traded heavily again. I think that I should prepare my self for a sub 1.1000 run within pair maybe back to 1.0950 before it resumes its upside.\r\n\r\nFrom last night I took +51 pips on the NZD/USD short. I wanted to bank $$$ and did not want to be checking machines overnight hence my protected stop. The NZD is still falling on the back of milk prices. The GBP/NZD long at 1.9349 at the pivot point stayed in play and is now at 1.9433.\r\n\r\nOther live trades are: -\r\n\r\nCAD/CHF +6pips\r\nEUR/AUD -29pips\r\nGBP/AUD -36pips\r\nAUD/USD -19pips\r\nUSD/CAD - 46pips\r\n\r\nThe limit orders EUR/CAD and AUD/CHF still not yet triggered.\r\n\r\nI am looking a couple of trades involving the SEK that could come into play over the next couple of days dependant upon what happens with U.S. jobs and the ECB.\r\n\r\nI will tweet any further trades. I hope things pick up today it has been rather boring, boring and yawnsville these past few sessions.\r\n\r\nScott.\r\n\r\n&nbsp;\r\n\r\n&nbsp;','#3 - THE DAILY FX POST, Wednesday 2nd April 2014','','publish','open','closed','','3-daily-fx-post-wednesday-2nd-april-2014','','','2014-04-02 06:38:59','2014-04-02 11:38:59','',0,'https://weeklyfxdrivethru.com/?post_type=member_posts&#038;p=3413',0,'member_posts','',0),(3414,1,'2014-04-02 06:38:59','2014-04-02 11:38:59','Very slow overnight sessions in Asia and Europe.\r\n\r\nThe EUR/USD, GBP/USD and AUD/USD all traded basically 30-40 pip ranges. The USD/JPY took out a few stops towards 103.90 and the USD/CAD traded heavily again. I think that I should prepare my self for a sub 1.1000 run within pair maybe back to 1.0950 before it resumes its upside.\r\n\r\nFrom last night I took +51 pips on the NZD/USD short. I wanted to bank $$$ and did not want to be checking machines overnight hence my protected stop. The NZD is still falling on the back of milk prices. The GBP/NZD long at 1.9349 at the pivot point stayed in play and is now at 1.9433.\r\n\r\nOther live trades are: -\r\n\r\nCAD/CHF +6pips\r\nEUR/AUD -29pips\r\nGBP/AUD -36pips\r\nAUD/USD -19pips\r\nUSD/CAD - 46pips\r\n\r\nThe limit orders EUR/CAD and AUD/CHF still not yet triggered.\r\n\r\nI am looking a couple of trades involving the SEK that could come into play over the next couple of days dependant upon what happens with U.S. jobs and the ECB.\r\n\r\nI will tweet any further trades. I hope things pick up today it has been rather boring, boring and yawnsville these past few sessions.\r\n\r\nScott.\r\n\r\n&nbsp;\r\n\r\n&nbsp;','#3 - THE DAILY FX POST, Wednesday 2nd April 2014','','inherit','open','closed','','3413-revision-v1','','','2014-04-02 06:38:59','2014-04-02 11:38:59','',3413,'https://weeklyfxdrivethru.com/3413-revision-v1/',0,'revision','',0),(3455,1,'2014-04-11 07:28:51','2014-04-11 12:28:51','Good Morning,\r\n\r\nVia Twitter (if you are using @ThePremService) you will know that I closed all JPY trades except USD/JPY and SEK/JPY. These multiple trades I had hoped to exit last night but the fall never happened until this morning and not for reasons that I was expecting. It looked like the U.S. equity markets reacted to poor financial results from JP Morgan. In any event, I\'ll take it..... and I banked +151 pips from the JPY pairs.\r\n\r\nIt looks like we could be in for an interesting day today. All the leads will come from the equities markets. I will be looking at all my open positions to limit risk exposure going into the weekend. The markets right now do not look healthy the DOW FUTURES -70 points and EUR/USD at the lows of the day. This would indicate to me that the markets are now becoming more risk averse and from this I would imagine that the USD would gain more strength, or rather get some strength.\r\n\r\nTake you leads today from equities. The only trades I will play with today adding are USD/JPY short and USD/CAD long I may add again before lunch to further improve cost average and profitability potential, particularly as it could squeeze today.\r\n\r\nThe USD/CAD  is on the tear this morning moving up very nicely and looking at the 60 minute chart there appears to be an inverted head and shoulders pattern in play with a measured move up 1.1040.\r\n\r\nMy goals today are: -\r\n<ol>\r\n	<li>Limit risk exposure going into the weekend.</li>\r\n	<li>I would like to cover part of my USD/CAD long as high as I can and amend the stop loss position.</li>\r\n	<li>Reduce position size on USD/SEK</li>\r\n	<li>Reduce position size and manage stops on NZD/USD.</li>\r\n</ol>\r\nAbove all today. Trade carefully......remember it is a FRIDAY\r\n\r\nScott','#10 - THE DAILY FX POST, Friday 11th April 2014','','publish','open','closed','','10-daily-fx-post-friday-11th-april-2014','','','2014-04-11 07:28:51','2014-04-11 12:28:51','',0,'https://weeklyfxdrivethru.com/?post_type=member_posts&#038;p=3455',0,'member_posts','',0),(3416,1,'2014-04-03 07:12:54','2014-04-03 12:12:54','The main event to day is the ECB.\r\n\r\nDraghi has left rates unchanged so its all on the Press Conference in 20 minutes or so. I think nothing will happen and that means the EUR/USD could be heading back towards 1.3900. All that can happen, in my opinion, is verbal intervention....heard it all before from Draghi. The question is will the markets buy this crap over and over again? We will have to wait and see...I have no inside information just my thoughts.\r\n\r\nI am not looking to add any trades today other than maybe an intra-day swipe at the EUR/USD.\r\n\r\nNon-Farm payrolls tomorrow and I may NOT even trade tomorrow until an hour or so after the news event.\r\n\r\nAs you can see I have exited nearly all my trades ahead of NFP...this is my normal practice and not just because I do not like the twitchiness of the markets, with the relentless bring higher.\r\n\r\nI am looking at possible trades around CHF and SEK for the coming sessions. I doubt that I will bring my trades forward unless Draghi surprises.\r\n\r\nAs usual, I will tweet if I trade anything.\r\n\r\nScott','#4 - THE DAILY FX POST, Thursday 3rd April 2014.','','publish','open','closed','','4-daily-fx-post-thursday-3rd-april-2014','','','2014-04-03 07:12:54','2014-04-03 12:12:54','',0,'https://weeklyfxdrivethru.com/?post_type=member_posts&#038;p=3416',0,'member_posts','',0),(3417,1,'2014-04-03 07:12:54','2014-04-03 12:12:54','The main event to day is the ECB.\r\n\r\nDraghi has left rates unchanged so its all on the Press Conference in 20 minutes or so. I think nothing will happen and that means the EUR/USD could be heading back towards 1.3900. All that can happen, in my opinion, is verbal intervention....heard it all before from Draghi. The question is will the markets buy this crap over and over again? We will have to wait and see...I have no inside information just my thoughts.\r\n\r\nI am not looking to add any trades today other than maybe an intra-day swipe at the EUR/USD.\r\n\r\nNon-Farm payrolls tomorrow and I may NOT even trade tomorrow until an hour or so after the news event.\r\n\r\nAs you can see I have exited nearly all my trades ahead of NFP...this is my normal practice and not just because I do not like the twitchiness of the markets, with the relentless bring higher.\r\n\r\nI am looking at possible trades around CHF and SEK for the coming sessions. I doubt that I will bring my trades forward unless Draghi surprises.\r\n\r\nAs usual, I will tweet if I trade anything.\r\n\r\nScott','#4 - THE DAILY FX POST, Thursday 3rd April 2014.','','inherit','open','closed','','3416-revision-v1','','','2014-04-03 07:12:54','2014-04-03 12:12:54','',3416,'https://weeklyfxdrivethru.com/3416-revision-v1/',0,'revision','',0),(3419,1,'2014-04-04 07:23:34','2014-04-04 12:23:34','U.S. NON-FARM PAYROLL.\r\n\r\nThis is the day to either sit back and observe and remain in $$$. Alternatively, in my opinion wait for about 15 minutes after the news has broken to see the direction developing then enter.\r\n\r\nBelieve it or not, I have 11 potential trades on my desk depending upon what the number is. But I am not certain that I will trade. Remember the follow through from NFP usually takes us into Monday next week as well and I find that a great day to trade normally. Hopefully, this week will give the usual opportunity.\r\n\r\nI am not going to pre-post trades as it all depends on the jobless numbers. I am watching Canada as well as the U.S.\r\n\r\nIf you are going to trade regardless please take smaller positions until some momentum is in place (hopefully) and wait until the \"knee-jerk\" reaction after the news has passed.\r\n\r\nGood Luck,\r\n\r\nScott','#5 - THE DAILY FX POST, Friday 4th April 2014','','publish','open','closed','','5-daily-fx-post-friday-4th-april-2014','','','2014-04-04 07:23:34','2014-04-04 12:23:34','',0,'https://weeklyfxdrivethru.com/?post_type=member_posts&#038;p=3419',0,'member_posts','',0),(3420,1,'2014-04-04 07:23:34','2014-04-04 12:23:34','U.S. NON-FARM PAYROLL.\r\n\r\nThis is the day to either sit back and observe and remain in $$$. Alternatively, in my opinion wait for about 15 minutes after the news has broken to see the direction developing then enter.\r\n\r\nBelieve it or not, I have 11 potential trades on my desk depending upon what the number is. But I am not certain that I will trade. Remember the follow through from NFP usually takes us into Monday next week as well and I find that a great day to trade normally. Hopefully, this week will give the usual opportunity.\r\n\r\nI am not going to pre-post trades as it all depends on the jobless numbers. I am watching Canada as well as the U.S.\r\n\r\nIf you are going to trade regardless please take smaller positions until some momentum is in place (hopefully) and wait until the \"knee-jerk\" reaction after the news has passed.\r\n\r\nGood Luck,\r\n\r\nScott','#5 - THE DAILY FX POST, Friday 4th April 2014','','inherit','open','closed','','3419-revision-v1','','','2014-04-04 07:23:34','2014-04-04 12:23:34','',3419,'https://weeklyfxdrivethru.com/3419-revision-v1/',0,'revision','',0),(3421,1,'2014-04-05 12:12:57','2014-04-05 17:12:57','<p style=\"text-align: left;\" align=\"center\"><b><span style=\"text-decoration: underline;\">1. INTRODUCTION:</span></b></p>\r\nThe chop fest continued during the past week.\r\n\r\nThe PREMIUM SERVICE continues to make money albeit at a slightly reduced level due to the tougher market conditions but it’s a profit and I am very happy. Subscriber levels increase each week and the new DAILY FX POST with a brief overview of my initial thoughts plus any trading ideas is now a week old. The number of tweets to the exclusive subscriber Twitter Account is now past 1,000 since the PREMIUM SERVICE was launched. So all is good…I just want the market to show a consistent direction. But as long as it keeps making profits and moving forward..that is the key goal and objective.\r\n\r\nThe two big news events over the last 7 days have passed.\r\n\r\nThe ECB press conference on Thursday last was a joke as far as I am concerned and I have thought long and hard about what Draghi actually said and didn’t say. I have decided to make this the subject of the comment piece this week.\r\n\r\nU.S. Non-Farm payrolls came and went with the usual flurry of guests on CNBC guessing beforehand then with egg on their faces after the event denying what they had previously said. Great TV….is this station part of my Disney package? It must be it’s not a serious business channel.\r\n\r\nPrior to NFP I was in one trade the USD/CAD. I added trades in USD/CHF, USD/SEK, NZD/USD and placed limit orders on AUD/CHF and CAD/CHF. This was an active NFP day for me. Usually I watch and giggle as the forex market takes out traders at both extremes. My lead indicator USD/SEK was the hook to pull me in. It never really jolted about and that was the determining factor as far as I was concerned.\r\n\r\nIn addition, I must comment on the fact that U.S. equities sold off very hard after NFP. Why?\r\n\r\nMy belief is that we are starting to see the sell-off that I have been talking about for a while based upon the fact that inter-market correlations are not functioning as usual and that there are huge market dis-connects in play.  Time will tell if I am right but there appeared to be a huge move out of momentum stocks and many technology stocks after bio-techs had been hit earlier in the week.\r\n\r\n&nbsp;\r\n\r\n<b><span style=\"text-decoration: underline;\">2. TRADING SUMMARY:</span></b>\r\n<p align=\"center\"><b><span style=\"text-decoration: underline;\">RADAR, FLASH and FUNDAMENTAL TRADES\r\n</span></b><b><span style=\"text-decoration: underline;\">APRIL 2014 and YEAR to date:</span></b></p>\r\nBelow I show the up to date performances for my various trading styles. Full excel spreadsheets are in the subscriber area of the PREMIUM SERVICE.\r\n<p align=\"center\"><b><span style=\"text-decoration: underline;\">RADAR TRADES – APRIL 2014…TO DATE:\r\n</span></b><b><span style=\"text-decoration: underline;\">PROFITS FROM SINGLE LOT COMPLETED RADAR TRADES:</span></b></p>\r\n<p align=\"center\">1 x MICRO-LOT:\r\n2 trades at $0.10 cents each = $0.20 risk for $3.00 profit.</p>\r\n<p align=\"center\">1 x MINI-LOT:\r\n2 trades at $1.00 each = $2.00 risk for $30.00 profit.</p>\r\n<p align=\"center\">1 x STANDARD LOT:\r\n2 trades at $10.00 each = $20.00 risk for $300.00 profit.<b style=\"line-height: 1.5em;\"><span style=\"text-decoration: underline;\"> </span></b></p>\r\n<p align=\"center\"><b><span style=\"text-decoration: underline;\">FLASH TRADES – APRIL 2014…TO DATE:\r\n</span></b><b><span style=\"text-decoration: underline;\">PROFITS FROM SINGLE LOT COMPLETED FLASH TRADES:</span></b></p>\r\n<p align=\"center\">1 x MICRO-LOT:\r\n6 trades at $0.10 cents each = $0.60 cents risk for $26.10 profit.</p>\r\n<p align=\"center\">1 x MINI-LOT:\r\n6 trades at $1.00 each = $6.00 risk for $261.00 profit.</p>\r\n<p align=\"center\">1 x STANDARD LOT:\r\n6 trades at $10.00 each = $60.00 risk for $2,610.00 profit.</p>\r\n<p align=\"center\"><b><span style=\"text-decoration: underline;\">FUNDAMENTAL TRADES – APRIL 2014…TO DATE:\r\n</span></b><b><span style=\"text-decoration: underline;\">PROFITS FROM SINGLE LOT COMPLETED FUNDAMENTAL TRADES:</span></b></p>\r\n<p align=\"center\">1 x MICRO-LOT:\r\n2 trades at $0.10 cents each = $0.20 cents risk for $3.40 profit.</p>\r\n<p align=\"center\">1 x MINI-LOT:\r\n2 trades at $1.00 each = $2.00 risk for $34.00 profit.</p>\r\n<p align=\"center\">1 x STANDARD LOT:\r\n2 trades at $10.00 each = $20.00 risk for $340.00 profit.</p>\r\n<p align=\"center\"><b><span style=\"text-decoration: underline;\">COMBINED FLASH, RADAR AND FUNDAMENTAL TRADES PROFIT PERFORMANCE\r\n</span></b><b><span style=\"text-decoration: underline;\">APRIL 2014…TO DATE:</span></b></p>\r\n<p align=\"center\">TRADING MICRO-LOTS:\r\n10 trades at $0.10 cents each = $1.00 risk for $32.50 profit.</p>\r\n<p align=\"center\">TRADING MINI-LOTS:\r\n10 trades at $1.00 each = $10.00 risk for $325.00 profit.</p>\r\n<p align=\"center\">TRADING STANDARD LOTS:\r\n10 trades at $10.00 each = $100.00 risk for $3,250.00 profit.</p>\r\n<p align=\"center\"><b><span style=\"text-decoration: underline;\">COMBINED FLASH, RADAR AND FUNDAMENTAL TRADES PROFIT PERFORMANCE\r\n</span></b><b><span style=\"text-decoration: underline;\">TOTAL 2014…SO FAR:</span></b></p>\r\n<p align=\"center\">TRADING MICRO-LOTS:\r\n150 trades at $0.10 cents each = $15.00 risk for $236.00 profit.</p>\r\n<p align=\"center\">TRADING MINI-LOTS:\r\n150 trades at $1.00 each = $150.00 risk for $2,360.00 profit.</p>\r\n<p align=\"center\">TRADING STANDARD LOTS:\r\n150 trades at $10.00 each = $1,500.00 risk for $23,600.00 profit.</p>\r\nThe above examples are for illustration purposes only:\r\n\r\nThe profitability examples detailed above are based solely upon single lot trading, regardless of lot type. If multiple lot sizes are traded the profitability margins will be different than those shown.\r\n\r\nJust to provide more information so you understand where I am coming from with the risk / reward statements above. All of my trades are of different sizes and different size lot types. The above does not reflect the actual trading performance. I like to add to trades, profits are taken as the trade progresses and my overall cost average moves several times. All of my trades are of different lot styles. I trade a mixture of micro lots, mini lots and standard lots across my brokers.\r\n\r\nThe above results simply display your profit or loss if you placed a single lot trade on all the set-ups suggested and did nothing else.\r\n\r\n&nbsp;\r\n\r\n<b><span style=\"text-decoration: underline;\">3. THE FUNDAMENTAL TRADERS OVERVIEW:</span></b>\r\n<p style=\"text-align: center;\"><b></b><b>IS DRAGHI AND THE ECB COUNCIL A LAUGHING STOCK, OR ARE THEY JUST VERY CLEVER FECK**S?</b></p>\r\nThose of you who have been following me for sometime will know that one of my favourite subjects to write about is the ECB. I have joint citizenship UK / Canadian citizenship and lived for 6 years in both Ireland and Spain. I have history in that part of the world, I find the politics fascinating but at the same time childish, amateurish, inept and 100% reactive. Yes…you guessed it I have very strong opinions of Eurozone politics!\r\n\r\nLast Thursday the latest installment of the Draghi rock show took place. As usual he glided into the room as if 100% coated in Teflon, looking shifty like a corner street drug seller. He sits down in his chair and the pre-release document provided to him by Angela Merkel and the Bundesbank is read out and hard copies released to the press. Draghi’s testicles are connected to the AC in readiness for the Q &amp; A section while state of the art hidden strings and a virtual hand device are attached to his back. Finally, he placed a number of empty “Pepsi” cans on the table and placed an Adidas running shoe on this right foot.\r\n\r\nThe scene is now set.\r\n\r\nInterest rates were left unchanged 45 minutes prior to the press conference and the much talked about negative deposit rates were not adopted. In my mind I thought this would be a non-event. He will divulge what in his mind (rather Angela Merkel’s) is a huge amount of information, without actually telling us anything. This is basically what happened.\r\n\r\nDraghi is convinced that the markets will always buy verbal intervention without any evidence of follow through. This is a rather mis-guided belief in my opinion, Draghi did all he could to talk down the Euro at the press conference. At one point he actually said that the recent CPi numbers showing a Eurozone inflation rate of 0.5% was a surprise to him and that Easter coming late this year could be affecting the data. Holy Mother of God…an ECB President blaming Easter for his non-intervention… I have heard it all now.\r\n\r\nDraghi continually said that the ECB council talked about easing, and talked about QE, in fact he thought long and hard about the implications of QE, surely to God he did all his thinking and researching on QE long, long ago not just in the previous 5 minutes…pathetic.\r\n\r\nHe had options to encourage growth in the Eurozone: -\r\n<ol>\r\n	<li>An interest rate cut from the existing 0.25%.</li>\r\n	<li>A further LTRO (Long Term Refinancing Option).</li>\r\n	<li>Full on Quantitative Easing.</li>\r\n	<li>Negative deposit rates for Eurozone banks depositing money in the ECB.</li>\r\n</ol>\r\nApparently all four of the options above were discussed but none of the board members felt any of them warranted a meeting with Angela to see if they could get permission to introduce one of these options to help Eurozone members and stimulate growth.\r\n\r\nDraghi was told to remain dovish and this is what he did. He talked about stimulus…but talk is cheap. The Eurozone has DEFLATION and every politician and central banker is in denial even after numbers are released. It is quite a pathetic catalogue of quotes and excuses for no action.\r\n\r\nSo are Draghi and his cronies idiots and a laughing stock on the worlds stage or are they very clever feck**s?\r\n\r\nTalk is cheap…he said nothing and did nothing and the EUR/USD dropped…result.\r\n\r\nDraghi said he and he buddies at the ECB talked over all the options and that easing with conventional and unconventional measures are not ruled out. QE, Interest Rate Cuts and Negative Deposit Rates all discussed. He talked about the EUR exchange rate being increasingly important but it was yet to be a policy in its own right. He also said that the Eurozone economic outlook is still looking to the downside and that Protracted Stagnation is still a huge fear. All of these items are negative for the single currency moving forward.\r\n\r\nOn the single currency positive side he stated that the ECB council did not agree that March’s data should be used in isolation to affect their outlook. CPi was not as weak as PPi. (My daddy’s got a bigger one that your daddy!!). Deflation risks had NOT increased (lie) he stated that he expected April to pick up (Crystal ball time). The ECB were very, very happy with forward guidance (I am happy for them).\r\n\r\nThose last two paragraphs basically summarized what happened.\r\n\r\nThe problem that I have is that Eurozone deflationary data has been published month after month and the ECB is in denial. They offer nothing other than verbal intervention and do nothing. They really do adopt the “Kicking of the can down the road” approach to all matters. The 2014 Pontius Pilate approach to managing the Eurozone is far from impressive and lacks decisiveness and leadership.\r\n\r\nQuite frankly, although the German control of the Eurozone may add stability to the financial markets, it actually holds back the periphery. Record unemployment and stagnation is not an equitable trade off in my opinion.\r\n\r\nPersonally, I think the whole puppet approach to the ECB from Frankfurt and Berlin makes the ECB a laughing stock but they are clever feck**s the way they do nothing but are able to manipulate the markets. How long this manipulation can continue for is debatable, but as long as the markets are mis-informed yet still able to drive themselves forward on “GREED” based initiatives nothing will change. Central Bankers around the world do not want to make hard / tough decisions and bring “FEAR” into the marketplace so I think the people of the Eurozone in particular have to put up with Austerity, no jobs, poor social support and lack of spending on health, education and infrastructure. It\'s a very sad world.\r\n\r\n&nbsp;\r\n\r\n<b><span style=\"text-decoration: underline;\">4. TRADER TOPICS:</span></b>\r\n<p style=\"text-align: center;\"><b></b><b><span style=\"text-decoration: underline;\">MAXIMISING PROFIT POTENTIAL BY PROPERLY SIZING POSITIONS:</span></b></p>\r\nMany traders begin trading by risking one lot (micro, mini or standard size) for each trade. For the purpose of this document, I am going to assume that the novice trader has already learned how to plan their entries and exits and have a TRADING PLAN.\r\n\r\nRegardless of the magnitude of the trade, new traders tend to use the same size position for every trade. Therefore a trade with a 200-pip stop will carry 5 times the risk of a trade with a 40-pip stop. This means an uncontrolled variable can have a huge effect and can greatly adjust the results. To eliminate this variable all we have to do as traders is simply adjust the position size of a trade so that every trade carries with it a similar amount of risk. As I have written before I think that it is sensible to risk only 1% maximum of your account balance in any trade. This I think is an acceptable risk tolerance.\r\n\r\nCalculating position is very easy. First take your account balance and multiply it by 1%.\r\n\r\nA $10,000 account at 1% risk tolerance equals $100.00 per trade risk.\r\n<div>\r\n<p style=\"text-align: center;\"><strong><span style=\"text-decoration: underline;\">TRADE EXAMPLE - 1:\r\n</span>EUR/USD</strong>\r\n<strong>Present Price: 1.3800.</strong>\r\n<strong>Stop Loss level: Fibonacci level 1.3855 (allowing 15 extra pips for stop loss run potential).  </strong>\r\n<strong>Stop Loss level is therefore1.3870 (70 pips in total)</strong>\r\n<strong>$100 (risk tolerance) / 70 (pips stop loss) = 1.42.</strong>\r\n<strong>Rounding down for this trade the maximum limit is 1 x mini lot</strong>\r\n<strong>Or</strong>\r\n<strong>Using micro lots the maximum trade is 14 x micro lots.</strong></p>\r\n\r\n</div>\r\n<div>\r\n<p style=\"text-align: center;\"><strong><span style=\"text-decoration: underline;\">TRADE EXAMPLE - 2:\r\n</span>AUD/USD</strong>\r\n<strong>Present Price: 0.9280</strong>\r\n<strong>Stop Loss: 0.9320 (40 pips in total)</strong>\r\n<strong>$100 (risk tolerance) / 40 (pips stop loss) = 2.5.</strong>\r\n<strong>Rounding down for this trade the maximum limit is 2 x mini lots.</strong>\r\n<strong>Or</strong>\r\n<strong>Using micro lots the maximum trade is 25 x micro lots.</strong></p>\r\n\r\n</div>\r\nAs you can see as you trade down in position sizes the flexibility in approach increases. Trading mini lots does not allow you to trade the maximum risk available within your TRADING PLAN.\r\n\r\nIn the above example, you can trade 2 x mini lots to meet your TRADING PLAN guidelines. However, by trading in micro lots you are able to trade 25 micro lots to maximize your trade size and also your potential profits without breaking your risk tolerance as per your TRADING PLAN.\r\n\r\nAdditionally, let us assume that the trade limit target was 0.9210. 70 pips below the entry level and that this trade played out perfectly.\r\n\r\nIf you had just traded 2 x mini lots as per your options your profit would have been 70 x 2 = $140.00.\r\n\r\nHowever, had you traded 25 micro lots your profit from the same trade maximizing your risk tolerance would have been 70 x 2.5 = $175.00 (25% more).\r\n\r\nThis is very simple and effective without breaking your TRADING PLAN guidelines.\r\n\r\nIf you have a larger account balance the same applies when trading down from Standard Lot sizes to Mini lots.\r\n\r\nThis is all about making your trading work for you. In my daily trading activity I trade all three-lot sizes and trade standard, mini and micro lots based upon the currency pair that I am trading and the type of trade that I have entered (FLASH, RADAR or FUNDAMENTAL). This gives me as much flexibility as possible with my trading.\r\n\r\n&nbsp;\r\n\r\n<b><span style=\"text-decoration: underline;\">5. MY CURRENT LIVE TRADES:</span></b>\r\n<p style=\"text-align: center;\"><strong><span style=\"text-decoration: underline;\">FLASH TRADES:</span></strong></p>\r\n<p style=\"text-align: center;\"><strong> USD/CAD</strong>\r\n<strong>Long</strong>\r\n<strong>Cost Average / Entry Level: 1.1061</strong>\r\n<strong>Stop Loss: 1.0850</strong>\r\n<strong>Limit / Target: 1.1600</strong>\r\n<strong>Weekly Closing Price: 1.0980</strong>\r\n<strong>Position - 81pips</strong></p>\r\n<p style=\"text-align: center;\"><strong>USD/CHF</strong>\r\n<strong>Long</strong>\r\n<strong>Cost Average / Entry Level: 0.8937</strong>\r\n<strong>Stop Loss: 0.8800</strong>\r\n<strong>Limit / Target: 0.9250</strong>\r\n<strong>Weekly Closing Price: 0.8911</strong>\r\n<strong>Position – 26pips</strong></p>\r\n<p style=\"text-align: center;\"><strong>USD/SEK</strong>\r\n<strong>Long</strong>\r\n<strong>Cost Average / Entry Level: 6.5442</strong>\r\n<strong>Stop Loss: 6.5000</strong>\r\n<strong>Limit / Target: 8.0000</strong>\r\n<strong>Weekly Closing Price: 1.65533</strong>\r\n<strong>Position +112 pips</strong></p>\r\n<p style=\"text-align: center;\"><strong>NZD/USD</strong>\r\n<strong>Short</strong>\r\n<strong>Cost Average / Entry Level: 0.8588</strong>\r\n<strong>Stop Loss: 0.8650</strong>\r\n<strong>Limit / Target: 0.8000</strong>\r\n<strong>Weekly Closing Price: 0.8572</strong>\r\n<strong>Position +16 pips</strong></p>\r\n<b><span style=\"text-decoration: underline;\"> </span></b>\r\n<p style=\"text-align: center;\"><b><span style=\"text-decoration: underline;\">RADAR TRADES:</span></b></p>\r\n<p style=\"text-align: center;\">I have no LIVE RADAR trades at the moment.</p>\r\n<b><span style=\"text-decoration: underline;\"> </span></b>\r\n<p style=\"text-align: center;\"><strong><span style=\"text-decoration: underline;\">FUNDAMENTAL TRADES:</span></strong></p>\r\n<p style=\"text-align: center;\"><strong>FUN14 (This trade is hedged from -150 pips)</strong>\r\n<strong>GBP/NZD</strong>\r\n<strong>Long</strong>\r\n<strong>Cost Average: 1.9950</strong>\r\n<strong>Stop Loss: 1.9000</strong>\r\n<strong>Limit / Target: 2.2350</strong>\r\n<strong>My Position Size: 7.5%</strong>\r\n<strong>Closing Weekly Position: 1.9249</strong>\r\n<strong><span style=\"line-height: 1.5em;\">My present Profit/Loss position: - 601pips</span></strong></p>\r\n<p style=\"text-align: center;\"><strong><span style=\"text-decoration: underline;\"> </span></strong></p>\r\n<b><span style=\"text-decoration: underline;\">6. TRADES THAT ARE ON MY RADAR:</span></b>\r\n\r\nThere are not a great number of trades on my radar this week. These will hopefully evolve as the week progresses. I am not trading for the sake of trading.\r\n<p style=\"text-align: center;\"><strong>AUD/CHF</strong>\r\n<strong> Long:  </strong>\r\n<strong> Limit order entry: 0.8250</strong>\r\n<strong>Stop Loss: 0.8040</strong>\r\n<strong><span style=\"line-height: 1.5em;\">Limit: 0.8720</span> </strong></p>\r\n<p style=\"text-align: center;\"><strong>CAD/CHF</strong>\r\n<strong> Long: </strong>\r\n<strong> Limit order entry: 0.8100</strong>\r\n<strong>Stop Loss: 0.7970</strong>\r\n<strong><span style=\"line-height: 1.5em;\">Limit: 0.8450</span></strong></p>\r\n<p style=\"text-align: center;\"><strong>AUD/USD</strong>\r\n<strong>Short</strong>\r\n<strong>Limit Order Entry: 0.9320</strong>\r\n<strong>Stop Loss: 0.9350</strong>\r\n<strong>Limit: 0.8500</strong></p>\r\nI am looking at the commodity cross rates like the EUR/NZD, GBP/NZD, EUR/AUD, GBP/AUD, EUR/CAD and GBP/CAD as well as the AUD/NZD but right now these pairs need in most cases to cross certain levels in order for me to get interested in trading them, such as EUR/AUD. I hate trading this short and I really want to see a move back above 1.5000 before I can get serious. The EUR/CAD is another case in point; I really want to see 1.5150 again before I can get serious about trading this back in the long direction.\r\n\r\nThe reaction next week with the AUD/USD and NZD/USD will be instrumental on my trading activity in the sessions ahead.\r\n\r\n&nbsp;\r\n\r\n<b><span style=\"text-decoration: underline;\">7. LOOKING FORWARD…THE KEY SUPPORT &amp; RESISTANCE LEVELS WITH THE USD MAJORS:</span></b>\r\n\r\n<b>EUR/USD: Closing Price 1.3701.</b>  We close at the breakdown level. The next few trading sessions next week will determine the general direction of the upcoming forex moves in the market overall. As the most liquid currency pair the EUR/USD directs, pulls and influences currencies with it, whichever way it trades.  I see the trading range as 1.3640 to 1.3850. A break from this range should, I hope, set up the market nicely for some nice moves.\r\n\r\n<b>GBP/USD: Closing Price 1.6559.  </b>We close the week below 1.6600. I had thought earlier in the week that should I witness this event I would be over this pair like a rash to the short side. I haven’t even thought about trading it.  I have real fears about trading cable as it has a nasty habit of getting you as a trader set up for a move and then it just turns about face and heads off in the opposite direction. Technically it looks like 1.6250 is next major support and then it does not get bullish again unless we break above 1.6750.\r\n\r\n<b>AUD/USD: Closing Price 0.9288</b>.  There was a nice bullish run after NFP to take this pair back towards resistance at 0.9300. I am looking to short this pair again soon…I was going to enter short the same time that I shorted the NZD/USD after NFP but I wanted to wait for stops to be taken above 0.9300. That of course did not happen and now I face the timing issue of entering short.Ideally, I wanted to get short around 0.9320.  The trading range that I will be monitoring over the coming sessions is 0.9200 to 0.9320.\r\n\r\n<b>NZD/USD: Closing Price 0.8572</b>.  Just like the AUD/USD, this pair had a lovely little bull run to enable all those traders like myself to enter short around 0.8600. At this level you know what your ultimate risk is, which is of course multi year highs at 0.8693. Support that I really want to see taken out lies at 0.8450.\r\n\r\n<b>USD/CAD: Closing Price 1.0980.</b>  I am getting very frustrated by my home- based currency. It really does live up to its name the “Loonie”. I am still bullish as long as we are above 1.0880, which is a multi year support trend line. I really want a loonie move to take out resistance above 1.1230 to really set this pair up for a run at 1.1600, which is where I think the technical stake us. I fear that we will hover around 1.0950 to 1.1050 for a while. There is no major CAD news this week so hopefully it will consolidate and get ready to bounce upwards.\r\n\r\n<b>USD/CHF: Closing Price 0.8911</b>.  I am long this pair and looking to add other CHF crosses. I have as per the section TRADES ON MY RADAR two further limit orders waiting to be triggered. We closed above 0.8900, which was crucial. Now I believe that a move to 0.9300 is possibly worth talking about in the medium term. We shall see if that trade will happen early next week depending upon the first few trading sessions, nevertheless I remain bullish this pair as it is in breakout territory. The trading range that I am looking at is support at 0.8850 and resistance at 0.9000.\r\n\r\n<b>USD/JPY: Closing Price 103.23.  </b>This pair closes the week up over last weeks close but down significantly on where it started just prior to NFP. The next few sessions will be crucial for the USD/JPY and all the JPY crosses. If equities start to sell off, Abe’s vision of a weakening JPY currency may be placed on hold for a wee while. The range going forward that interests me is support at 102.60 and resistance back at 104.45.\r\n\r\n<span style=\"text-decoration: underline;\"> </span>\r\n\r\n<b><span style=\"text-decoration: underline;\">8. MAJOR FOREX NEWS THIS WEEK THAT INTERESTS ME:</span></b>\r\n\r\nSUNDAY: N/A.\r\n\r\nMONDAY: N/A.\r\n\r\nTUESDAY: N/A.\r\n\r\nWEDNESDAY: USD – FOMC Meeting Minutes.\r\nWEDNESDAY: AUD – Employment Data.\r\n\r\nTHURSDAY: N/A.\r\n\r\nFRIDAY: N/A.<b></b>\r\n\r\n<b><span style=\"text-decoration: underline;\"> </span></b>\r\n\r\n<b><span style=\"text-decoration: underline;\">9. FINAL THOUGHTS:</span></b>\r\n\r\nNot a huge amount of news items catch my eye this week. There is not much to talk about in my view; I think equities will direct the forex market over the next few sessions. Only the FOMC and Australian Employment Data really interest me\r\n\r\nAs you know, I am always looking for the signs that show that equities are starting to reverse and with the NASDAQ sell off on Friday last week, this could be where it starts. The EUR/USD is on the cusp of a breakdown and this will also pull the forex market.\r\n\r\nIn addition, I still think that there is a degree of uncertainty in the equity market regarding the grind higher and any excuse will be used to both start and justify the pullback / correction.\r\n\r\nTherefore, this is not a time to be a hero. Do not try to pick tops or bottoms just go with the flow and trade if you see an opportunity. Do not force trades let them come to you?\r\n\r\nTake care and good luck. Be careful with position sizes.\r\n\r\nScott Pickering\r\nThe Pip Accumulator\r\nSaturday April 5th 2014\r\n\r\nEMAIL / FOLLOW ME AT:\r\npremiumservice@weeklyfxdrivethru.com\r\nTwitter: @pipaccumulator\r\nTwitter: @ThePremService\r\n<span style=\"line-height: 1.5em;\">Google+/scottpickering</span>\r\n\r\n&nbsp;','IS DRAGHI AND THE ECB COUNCIL A LAUGHING STOCK, OR ARE THEY JUST VERY CLEVER FECK**S?','','publish','open','closed','','draghi-ecb-council-laughing-stock-just-clever-fecks','','','2014-04-05 12:12:57','2014-04-05 17:12:57','',0,'https://weeklyfxdrivethru.com/?post_type=member_posts&#038;p=3421',0,'member_posts','',0),(3422,1,'2014-04-05 12:09:47','2014-04-05 17:09:47','<p style=\"text-align: left;\" align=\"center\"><b><span style=\"text-decoration: underline;\">1. INTRODUCTION:</span></b></p>\r\nThe chop fest continued during the past week.\r\n\r\nThe PREMIUM SERVICE continues to make money albeit at a slightly reduced level due to the tougher market conditions but it’s a profit and I am very happy. Subscriber levels increase each week and the new DAILY FX POST with a brief overview of my initial thoughts plus any trading ideas is now a week old. The number of tweets to the exclusive subscriber Twitter Account is now past 1,000 since the PREMIUM SERVICE was launched. So all is good…I just want the market to show a consistent direction. But as long as it keeps making profits and moving forward..that is the key goal and objective.\r\n\r\nThe two big news events over the last 7 days have passed.\r\n\r\nThe ECB press conference on Thursday last was a joke as far as I am concerned and I have thought long and hard about what Draghi actually said and didn’t say. I have decided to make this the subject of the comment piece this week.\r\n\r\nU.S. Non-Farm payrolls came and went with the usual flurry of guests on CNBC guessing beforehand then with egg on their faces after the event denying what they had previously said. Great TV….is this station part of my Disney package? It must be it’s not a serious business channel.\r\n\r\nPrior to NFP I was in one trade the USD/CAD. I added trades in USD/CHF, USD/SEK, NZD/USD and placed limit orders on AUD/CHF and CAD/CHF. This was an active NFP day for me. Usually I watch and giggle as the forex market takes out traders at both extremes. My lead indicator USD/SEK was the hook to pull me in. It never really jolted about and that was the determining factor as far as I was concerned.\r\n\r\nIn addition, I must comment on the fact that U.S. equities sold off very hard after NFP. Why?\r\n\r\nMy belief is that we are starting to see the sell-off that I have been talking about for a while based upon the fact that inter-market correlations are not functioning as usual and that there are huge market dis-connects in play.  Time will tell if I am right but there appeared to be a huge move out of momentum stocks and many technology stocks after bio-techs had been hit earlier in the week.\r\n\r\n&nbsp;\r\n\r\n<b><span style=\"text-decoration: underline;\">2. TRADING SUMMARY:</span></b>\r\n<p align=\"center\"><b><span style=\"text-decoration: underline;\">RADAR, FLASH and FUNDAMENTAL TRADES\r\n</span></b><b><span style=\"text-decoration: underline;\">APRIL 2014 and YEAR to date:</span></b></p>\r\nBelow I show the up to date performances for my various trading styles. Full excel spreadsheets are in the subscriber area of the PREMIUM SERVICE.\r\n<p align=\"center\"><b><span style=\"text-decoration: underline;\">RADAR TRADES – APRIL 2014…TO DATE:\r\n</span></b><b><span style=\"text-decoration: underline;\">PROFITS FROM SINGLE LOT COMPLETED RADAR TRADES:</span></b></p>\r\n<p align=\"center\">1 x MICRO-LOT:\r\n2 trades at $0.10 cents each = $0.20 risk for $3.00 profit.</p>\r\n<p align=\"center\">1 x MINI-LOT:\r\n2 trades at $1.00 each = $2.00 risk for $30.00 profit.</p>\r\n<p align=\"center\">1 x STANDARD LOT:\r\n2 trades at $10.00 each = $20.00 risk for $300.00 profit.<b style=\"line-height: 1.5em;\"><span style=\"text-decoration: underline;\"> </span></b></p>\r\n<p align=\"center\"><b><span style=\"text-decoration: underline;\">FLASH TRADES – APRIL 2014…TO DATE:\r\n</span></b><b><span style=\"text-decoration: underline;\">PROFITS FROM SINGLE LOT COMPLETED FLASH TRADES:</span></b></p>\r\n<p align=\"center\">1 x MICRO-LOT:\r\n6 trades at $0.10 cents each = $0.60 cents risk for $26.10 profit.</p>\r\n<p align=\"center\">1 x MINI-LOT:\r\n6 trades at $1.00 each = $6.00 risk for $261.00 profit.</p>\r\n<p align=\"center\">1 x STANDARD LOT:\r\n6 trades at $10.00 each = $60.00 risk for $2,610.00 profit.</p>\r\n<p align=\"center\"><b><span style=\"text-decoration: underline;\">FUNDAMENTAL TRADES – APRIL 2014…TO DATE:\r\n</span></b><b><span style=\"text-decoration: underline;\">PROFITS FROM SINGLE LOT COMPLETED FUNDAMENTAL TRADES:</span></b></p>\r\n<p align=\"center\">1 x MICRO-LOT:\r\n2 trades at $0.10 cents each = $0.20 cents risk for $3.40 profit.</p>\r\n<p align=\"center\">1 x MINI-LOT:\r\n2 trades at $1.00 each = $2.00 risk for $34.00 profit.</p>\r\n<p align=\"center\">1 x STANDARD LOT:\r\n2 trades at $10.00 each = $20.00 risk for $340.00 profit.</p>\r\n<p align=\"center\"><b><span style=\"text-decoration: underline;\">COMBINED FLASH, RADAR AND FUNDAMENTAL TRADES PROFIT PERFORMANCE\r\n</span></b><b><span style=\"text-decoration: underline;\">APRIL 2014…TO DATE:</span></b></p>\r\n<p align=\"center\">TRADING MICRO-LOTS:\r\n10 trades at $0.10 cents each = $1.00 risk for $32.50 profit.</p>\r\n<p align=\"center\">TRADING MINI-LOTS:\r\n10 trades at $1.00 each = $10.00 risk for $325.00 profit.</p>\r\n<p align=\"center\">TRADING STANDARD LOTS:\r\n10 trades at $10.00 each = $100.00 risk for $3,250.00 profit.</p>\r\n<p align=\"center\"><b><span style=\"text-decoration: underline;\">COMBINED FLASH, RADAR AND FUNDAMENTAL TRADES PROFIT PERFORMANCE\r\n</span></b><b><span style=\"text-decoration: underline;\">TOTAL 2014…SO FAR:</span></b></p>\r\n<p align=\"center\">TRADING MICRO-LOTS:\r\n150 trades at $0.10 cents each = $15.00 risk for $236.00 profit.</p>\r\n<p align=\"center\">TRADING MINI-LOTS:\r\n150 trades at $1.00 each = $150.00 risk for $2,360.00 profit.</p>\r\n<p align=\"center\">TRADING STANDARD LOTS:\r\n150 trades at $10.00 each = $1,500.00 risk for $23,600.00 profit.</p>\r\nThe above examples are for illustration purposes only:\r\n\r\nThe profitability examples detailed above are based solely upon single lot trading, regardless of lot type. If multiple lot sizes are traded the profitability margins will be different than those shown.\r\n\r\nJust to provide more information so you understand where I am coming from with the risk / reward statements above. All of my trades are of different sizes and different size lot types. The above does not reflect the actual trading performance. I like to add to trades, profits are taken as the trade progresses and my overall cost average moves several times. All of my trades are of different lot styles. I trade a mixture of micro lots, mini lots and standard lots across my brokers.\r\n\r\nThe above results simply display your profit or loss if you placed a single lot trade on all the set-ups suggested and did nothing else.\r\n\r\n&nbsp;\r\n\r\n<b><span style=\"text-decoration: underline;\">3. THE FUNDAMENTAL TRADERS OVERVIEW:</span></b>\r\n<p style=\"text-align: center;\"><b></b><b>IS DRAGHI AND THE ECB COUNCIL A LAUGHING STOCK, OR ARE THEY JUST VERY CLEVER FECK**S?</b></p>\r\nThose of you who have been following me for sometime will know that one of my favourite subjects to write about is the ECB. I have joint citizenship UK / Canadian citizenship and lived for 6 years in both Ireland and Spain. I have history in that part of the world, I find the politics fascinating but at the same time childish, amateurish, inept and 100% reactive. Yes…you guessed it I have very strong opinions of Eurozone politics!\r\n\r\nLast Thursday the latest installment of the Draghi rock show took place. As usual he glided into the room as if 100% coated in Teflon, looking shifty like a corner street drug seller. He sits down in his chair and the pre-release document provided to him by Angela Merkel and the Bundesbank is read out and hard copies released to the press. Draghi’s testicles are connected to the AC in readiness for the Q &amp; A section while state of the art hidden strings and a virtual hand device are attached to his back. Finally, he placed a number of empty “Pepsi” cans on the table and placed an addidas running shoe on this right foot.\r\n\r\nThe scene is now set.\r\n\r\nInterest rates were left unchanged 45 minutes prior to the press conference and the much talked about negative deposit rates were not adopted. In my mind I thought this would be a non-event. He will divulge what in his mind (rather Angela Merkel’s) is a huge amount of information, without actually telling us anything. This is basically what happened.\r\n\r\nDraghi is convinced that the markets will always buy verbal intervention without any evidence of follow through. This is a rather mis-guided belief in my opinion, Draghi did all he could to talk down the Euro at the press conference. At one point he actually said that the recent CPi numbers showing a Eurozone inflation rate of 0.5% was a surprise to him and that Easter coming late this year could be affecting the data. Holy Mother of God…an ECB President blaming Easter for his non-intervention… I have heard it all now.\r\n\r\nDraghi continually said that the ECB council talked about easing, and talked about QE, in fact he thought long and hard about the implications of QE, surely to God he did all his thinking and researching on QE long, long ago not just in the prevoius 5 minutes…pathetic.\r\n\r\nHe had options to encourage growth in the Eurozone: -\r\n<ol>\r\n	<li>An interest rate cut from the existing 0.25%.</li>\r\n	<li>A further LTRO (Long Term Refinancing Option).</li>\r\n	<li>Full on Quantatative Easing.</li>\r\n	<li>Negative deposit rates for Eurozone banks depositing money in the ECB.</li>\r\n</ol>\r\nApparently all four of the options above were discussed but none of the board members felt any of them warranted a meeting with Angela to see if they could get permission to introduce one of these options to help Eurozone members and stimulate growth.\r\n\r\nDraghi was told to remain dovish and this is what he did. He talked about stimulus…but talk is cheap. The Eurozone has DEFLATION and every politician and central banker is in denial even after numbers are released. It is quite a pathetic catalogue of quotes and excuses for no action.\r\n\r\nSo are Draghi and his cronies idiots and a laughing stock on the worlds stage or are they very clever feck**s?\r\n\r\nTalk is cheap…he said feck all and did feck all and the EUR/USD dropped…result.\r\n\r\nDraghi said he and he buddies at the ECB talked over all the options and that easing with conventional and unconvential measures are not ruled out. QE, Interest Rate Cuts and Negative Deposit Rates all discussed. He talked about the EUR exchange rate being increasingly important but it was yet to be a policy in its own right. He also said that the Eurozone economic outlook is still looking to the downside and that Protracted Stagnation is still a huge fear. All of these items are negative for the single currency moving forward.\r\n\r\nOn the single currency positive side he stated that the ECB council did not agree that March’s data should be used in isolation to affect their outlook. CPi was not as weak as PPi. (My daddy’s got a bigger one that your daddy!!). Deflation risks had NOT increased (lie) he stated that he expected April to pick up (Crystal ball time). The ECB were very, very happy with forward guidance (I am happy for them).\r\n\r\nThose last two paragraphs basically summarized what happened.\r\n\r\nThe problem that I have is that Eurozone deflationary data has been published month after month and the ECB is in denial. They offer nothing other than verbal intervention and do nothing. They really do adopt the “Kicking of the can down the road” approach to all matters. The 2014 Pontius Pilate approach to managing the Eurozone is far from impressive and lacks decisiveness and leadership.\r\n\r\nQuite frankly, although the German control of the Eurozone may add stability to the financial markets, it actually holds back the periphery. Record unemployment and stagnation is not an equitable trade off in my opinion.\r\n\r\nPersonally, I think the whole puppet approach to the ECB from Frankfurt and Berlin makes the ECB a laughing stock but they are clever feck**s the way they do nothing but are able to manipulate the markets. How long this manipulation can continue for is debatable, but as long as the markets are mis-informed yet still able to drive themselves forward on “GREED” based initiatives nothing will change. Central Bankers around the world do not want to make hard / tough decisions and bring “FEAR” into the marketplace so I think the people of the Eurozone in particular have to put up with Austerity, no jobs, poor social support and lack of spending on health, education and infrastructure. It\'s a very sad world.\r\n\r\n&nbsp;\r\n\r\n<b><span style=\"text-decoration: underline;\">4. TRADER TOPICS:</span></b>\r\n<p style=\"text-align: center;\"><b></b><b><span style=\"text-decoration: underline;\">MAXIMISING PROFIT POTENTIAL BY PROPERLY SIZING POSITIONS:</span></b></p>\r\nMany traders begin trading by risking one lot (micro, mini or standard size) for each trade. For the purpose of this document, I am going to assume that the novice trader has already learned how to plan their entries and exits and have a TRADING PLAN.\r\n\r\nRegardless of the magnitude of the trade, new traders tend to use the same size position for every trade. Therefore a trade with a 200-pip stop will carry 5 times the risk of a trade with a 40-pip stop. This means an uncontrolled variable can have a huge effect and can greatly adjust the results. To eliminate this variable all we have to do as traders is simply adjust the position size of a trade so that every trade carries with it a similar amount of risk. As I have written before I think that it is sensible to risk only 1% maximum of your account balance in any trade. This I think is an acceptable risk tolerance.\r\n\r\nCalculating position is very easy. First take your account balance and multiply it by 1%.\r\n\r\nA $10,000 account at 1% risk tolerance equals $100.00 per trade risk.\r\n<div>\r\n<p style=\"text-align: center;\"><strong><span style=\"text-decoration: underline;\">TRADE EXAMPLE - 1:\r\n</span>EUR/USD</strong>\r\n<strong>Present Price: 1.3800.</strong>\r\n<strong>Stop Loss level: Fibonacci level 1.3855 (allowing 15 extra pips for stop loss run potential).  </strong>\r\n<strong>Stop Loss level is therefore1.3870 (70 pips in total)</strong>\r\n<strong>$100 (risk tolerance) / 70 (pips stop loss) = 1.42.</strong>\r\n<strong>Rounding down for this trade the maximum limit is 1 x mini lot</strong>\r\n<strong>Or</strong>\r\n<strong>Using micro lots the maximum trade is 14 x micro lots.</strong></p>\r\n\r\n</div>\r\n<div>\r\n<p style=\"text-align: center;\"><strong><span style=\"text-decoration: underline;\">TRADE EXAMPLE - 2:\r\n</span>AUD/USD</strong>\r\n<strong>Present Price: 0.9280</strong>\r\n<strong>Stop Loss: 0.9320 (40 pips in total)</strong>\r\n<strong>$100 (risk tolerance) / 40 (pips stop loss) = 2.5.</strong>\r\n<strong>Rounding down for this trade the maximum limit is 2 x mini lots.</strong>\r\n<strong>Or</strong>\r\n<strong>Using micro lots the maximum trade is 25 x micro lots.</strong></p>\r\n\r\n</div>\r\nAs you can see as you trade down in position sizes the flexibility in approach increases. Trading mini lots does not allow you to trade the maximum risk available within your TRADING PLAN.\r\n\r\nIn the above example, you can trade 2 x mini lots to meet your TRADING PLAN guidelines. However, by trading in micro lots you are able to trade 25 micro lots to maximize your trade size and also your potential profits without breaking your risk tolerance as per your TRADING PLAN.\r\n\r\nAdditionally, let us assume that the trade limit target was 0.9210. 70 pips below the entry level and that this trade played out perfectly.\r\n\r\nIf you had just traded 2 x mini lots as per your options your profit would have been 70 x 2 = $140.00.\r\n\r\nHowever, had you traded 25 micro lots your profit from the same trade maximizing your risk tolerance would have been 70 x 2.5 = $175.00 (25% more).\r\n\r\nThis is very simple and effective without breaking your TRADING PLAN guidelines.\r\n\r\nIf you have a larger account balance the same applies when trading down from Standard Lot sizes to Mini lots.\r\n\r\nThis is all about making your trading work for you. In my daily trading activity I trade all three-lot sizes and trade standard, mini and micro lots based upon the currency pair that I am trading and the type of trade that I have entered (FLASH, RADAR or FUNDAMENTAL). This gives me as much flexibility as possible with my trading.\r\n\r\n&nbsp;\r\n\r\n<b><span style=\"text-decoration: underline;\">5. MY CURRENT LIVE TRADES:</span></b>\r\n<p style=\"text-align: center;\"><strong><span style=\"text-decoration: underline;\">FLASH TRADES:</span></strong></p>\r\n<p style=\"text-align: center;\"><strong> USD/CAD</strong>\r\n<strong>Long</strong>\r\n<strong>Cost Average / Entry Level: 1.1061</strong>\r\n<strong>Stop Loss: 1.0850</strong>\r\n<strong>Limit / Target: 1.1600</strong>\r\n<strong>Weekly Closing Price: 1.0980</strong>\r\n<strong>Position - 81pips</strong></p>\r\n<p style=\"text-align: center;\"><strong>USD/CHF</strong>\r\n<strong>Long</strong>\r\n<strong>Cost Average / Entry Level: 0.8937</strong>\r\n<strong>Stop Loss: 0.8800</strong>\r\n<strong>Limit / Target: 0.9250</strong>\r\n<strong>Weekly Closing Price: 0.8911</strong>\r\n<strong>Position – 26pips</strong></p>\r\n<p style=\"text-align: center;\"><strong>USD/SEK</strong>\r\n<strong>Long</strong>\r\n<strong>Cost Average / Entry Level: 6.5442</strong>\r\n<strong>Stop Loss: 6.5000</strong>\r\n<strong>Limit / Target: 8.0000</strong>\r\n<strong>Weekly Closing Price: 1.65533</strong>\r\n<strong>Position +112 pips</strong></p>\r\n<p style=\"text-align: center;\"><strong>NZD/USD</strong>\r\n<strong>Short</strong>\r\n<strong>Cost Average / Entry Level: 0.8588</strong>\r\n<strong>Stop Loss: 0.8650</strong>\r\n<strong>Limit / Target: 0.8000</strong>\r\n<strong>Weekly Closing Price: 0.8572</strong>\r\n<strong>Position +16 pips</strong></p>\r\n<b><span style=\"text-decoration: underline;\"> </span></b>\r\n<p style=\"text-align: center;\"><b><span style=\"text-decoration: underline;\">RADAR TRADES:</span></b></p>\r\n<p style=\"text-align: center;\">I have no LIVE RADAR trades at the moment.</p>\r\n<p style=\"text-align: center;\"></p>\r\n<b><span style=\"text-decoration: underline;\"> </span></b>\r\n<p style=\"text-align: center;\"><strong><span style=\"text-decoration: underline;\">FUNDAMENTAL TRADES:</span></strong></p>\r\n<p style=\"text-align: center;\"><strong>FUN14 (This trade is hedged from -150 pips)</strong>\r\n<strong>GBP/NZD</strong>\r\n<strong>Long</strong>\r\n<strong>Cost Average: 1.9950</strong>\r\n<strong>Stop Loss: 1.9000</strong>\r\n<strong>Limit / Target: 2.2350</strong>\r\n<strong>My Position Size: 7.5%</strong>\r\n<strong>Closing Weekly Position: 1.9249</strong>\r\n<strong><span style=\"line-height: 1.5em;\">My present Profit/Loss position: - 601pips</span></strong></p>\r\n<p style=\"text-align: center;\"><strong><span style=\"text-decoration: underline;\"> </span></strong></p>\r\n<b><span style=\"text-decoration: underline;\">6. TRADES THAT ARE ON MY RADAR:</span></b>\r\n\r\nThere are not a great number of trades on my radar this week. These will hopefully evolve as the week progresses. I am not trading for the sake of trading.\r\n<p style=\"text-align: center;\"><strong>AUD/CHF</strong>\r\n<strong> Long:  </strong>\r\n<strong> Limit order entry: 0.8250</strong>\r\n<strong>Stop Loss: 0.8040</strong>\r\n<strong><span style=\"line-height: 1.5em;\">Limit: 0.8720</span> </strong></p>\r\n<p style=\"text-align: center;\"><strong>CAD/CHF</strong>\r\n<strong> Long: </strong>\r\n<strong> Limit order entry: 0.8100</strong>\r\n<strong>Stop Loss: 0.7970</strong>\r\n<strong><span style=\"line-height: 1.5em;\">Limit: 0.8450</span></strong></p>\r\n<p style=\"text-align: center;\"><strong>AUD/USD</strong>\r\n<strong>Short</strong>\r\n<strong>Limit Order Entry: 0.9320</strong>\r\n<strong>Stop Loss: 0.9350</strong>\r\n<strong>Limit: 0.8500</strong></p>\r\nI am looking at the commodity cross rates like the EUR/NZD, GBP/NZD, EUR/AUD, GBP/AUD, EUR/CAD and GBP/CAD as well as the AUD/NZD but right now these pairs need in most cases to cross certain levels in order for me to get interested in trading them, such as EUR/AUD. I hate trading this short and I really want to see a move back above 1.5000 before I can get serious. The EUR/CAD is another case in point; I really want to see 1.5150 again before I can get serious about trading this back in the long direction.\r\n\r\nThe reaction next week with the AUD/USD and NZD/USD will be instrumental on my trading activity in the sessions ahead.\r\n\r\n&nbsp;\r\n\r\n<b><span style=\"text-decoration: underline;\">7. LOOKING FORWARD…THE KEY SUPPORT &amp; RESISTANCE LEVELS WITH THE USD MAJORS:</span></b>\r\n\r\n<b>EUR/USD: Closing Price 1.3701.</b>  We close at the breakdown level. The next few trading sessions next week will determine the general direction of the upcoming forex moves in the market overall. As the most liquid currency pair the EUR/USD directs, pulls and influences currencies with it, whichever way it trades.  I see the trading range as 1.3640 to 1.3850. A break from this range should, I hope, set up the market nicely for some nice moves.\r\n\r\n<b>GBP/USD: Closing Price 1.6559.  </b>We close the week below 1.6600. I had thought earlier in the week that should I witness this event I would be over this pair like a rash to the short side. I haven’t even thought about trading it.  I have real fears about trading cable as it has a nasty habit of getting you as a trader set up for a move and then it just turns about face and heads off in the opposite direction. Technically it looks like 1.6250 is next major support and then it does not get bullish again unless we break above 1.6750.\r\n\r\n<b>AUD/USD: Closing Price 0.9288</b>.  There was a nice bullish run after NFP to take this pair back towards resistance at 0.9300. I am looking to short this pair again soon…I was going to enter short the same time that I shorted the NZD/USD after NFP but I wanted to wait for stops to be taken above 0.9300. That of course did not happen and now I face the timing issue of entering short.Ideally, I wanted to get short around 0.9320.  The trading range that I will be monitoring over the coming sessions is 0.9200 to 0.9320.\r\n\r\n<b>NZD/USD: Closing Price 0.8572</b>.  Just like the AUD/USD, this pair had a lovely little bull run to enable all those traders like myself to enter short around 0.8600. At this level you know what your ultimate risk is, which is of course multi year highs at 0.8693. Support that I really want to see taken out lies at 0.8450.\r\n\r\n<b>USD/CAD: Closing Price 1.0980.</b>  I am getting very frustrated by my home- based currency. It really does live up to its name the “Loonie”. I am still bullish as long as we are above 1.0880, which is a multi year support trend line. I really want a loonie move to take out resistance above 1.1230 to really set this pair up for a run at 1.1600, which is where I think the technical stake us. I fear that we will hover around 1.0950 to 1.1050 for a while. There is no major CAD news this week so hopefully it will consolidate and get ready to bounce upwards.\r\n\r\n<b>USD/CHF: Closing Price 0.8911</b>.  I am long this pair and looking to add other CHF crosses. I have as per the section TRADES ON MY RADAR two further limit orders waiting to be triggered. We closed above 0.8900, which was crucial. Now I believe that a move to 0.9300 is possibly worth talking about in the medium term. We shall see if that trade will happen early next week depending upon the first few trading sessions, nevertheless I remain bullish this pair as it is in breakout territory. The trading range that I am looking at is support at 0.8850 and resistance at 0.9000.\r\n\r\n<b>USD/JPY: Closing Price 103.23.  </b>This pair closes the week up over last weeks close but down significantly on where it started just prior to NFP. The next few sessions will be crucial for the USD/JPY and all the JPY crosses. If equities start to sell off, Abe’s vision of a weakening JPY currency may be placed on hold for a wee while. The range going forward that interests me is support at 102.60 and resistance back at 104.45.\r\n\r\n<span style=\"text-decoration: underline;\"> </span>\r\n\r\n<b><span style=\"text-decoration: underline;\">8. MAJOR FOREX NEWS THIS WEEK THAT INTERESTS ME:</span></b>\r\n\r\nSUNDAY: N/A.\r\n\r\nMONDAY: N/A.\r\n\r\nTUESDAY: N/A.\r\n\r\nWEDNESDAY: USD – FOMC Meeting Minutes.\r\nWEDNESDAY: AUD – Employment Data.\r\n\r\nTHURSDAY: N/A.\r\n\r\nFRIDAY: N/A.<b></b>\r\n\r\n<b><span style=\"text-decoration: underline;\"> </span></b>\r\n\r\n<b><span style=\"text-decoration: underline;\">9. FINAL THOUGHTS:</span></b>\r\n\r\nNot a huge amount of news items catch my eye this week. There is not much to talk about in my view; I think equities will direct the forex market over the next few sessions. Only the FOMC and Australian Employment Data really interest me\r\n\r\nAs you know, I am always looking for the signs that show that equities are starting to reverse and with the NASDAQ sell off on Friday last week, this could be where it starts. The EUR/USD is on the cusp of a breakdown and this will also pull the forex market.\r\n\r\nIn addition, I still think that there is a degree of uncertainty in the equity market regarding the grind higher and any excuse will be used to both start and justify the pullback / correction.\r\n\r\nTherefore, this is not a time to be a hero. Do not try to pick tops or bottoms just go with the flow and trade if you see an opportunity. Do not force trades let them come to you?\r\n\r\nTake care and good luck. Be careful with position sizes.\r\n\r\nScott Pickering\r\nThe Pip Accumulator\r\nSaturday April 5th 2014\r\n\r\nEMAIL / FOLLOW ME AT:\r\npremiumservice@weeklyfxdrivethru.com\r\nTwitter: @pipaccumulator\r\nTwitter: @ThePremService\r\n<span style=\"line-height: 1.5em;\">Google+/scottpickering</span>\r\n\r\n&nbsp;','IS DRAGHI AND THE ECB COUNCIL A LAUGHING STOCK, OR ARE THEY JUST VERY CLEVER FECK**S?','','inherit','open','closed','','3421-revision-v1','','','2014-04-05 12:09:47','2014-04-05 17:09:47','',3421,'https://weeklyfxdrivethru.com/3421-revision-v1/',0,'revision','',0),(3423,1,'2014-04-05 12:12:57','2014-04-05 17:12:57','<p style=\"text-align: left;\" align=\"center\"><b><span style=\"text-decoration: underline;\">1. INTRODUCTION:</span></b></p>\r\nThe chop fest continued during the past week.\r\n\r\nThe PREMIUM SERVICE continues to make money albeit at a slightly reduced level due to the tougher market conditions but it’s a profit and I am very happy. Subscriber levels increase each week and the new DAILY FX POST with a brief overview of my initial thoughts plus any trading ideas is now a week old. The number of tweets to the exclusive subscriber Twitter Account is now past 1,000 since the PREMIUM SERVICE was launched. So all is good…I just want the market to show a consistent direction. But as long as it keeps making profits and moving forward..that is the key goal and objective.\r\n\r\nThe two big news events over the last 7 days have passed.\r\n\r\nThe ECB press conference on Thursday last was a joke as far as I am concerned and I have thought long and hard about what Draghi actually said and didn’t say. I have decided to make this the subject of the comment piece this week.\r\n\r\nU.S. Non-Farm payrolls came and went with the usual flurry of guests on CNBC guessing beforehand then with egg on their faces after the event denying what they had previously said. Great TV….is this station part of my Disney package? It must be it’s not a serious business channel.\r\n\r\nPrior to NFP I was in one trade the USD/CAD. I added trades in USD/CHF, USD/SEK, NZD/USD and placed limit orders on AUD/CHF and CAD/CHF. This was an active NFP day for me. Usually I watch and giggle as the forex market takes out traders at both extremes. My lead indicator USD/SEK was the hook to pull me in. It never really jolted about and that was the determining factor as far as I was concerned.\r\n\r\nIn addition, I must comment on the fact that U.S. equities sold off very hard after NFP. Why?\r\n\r\nMy belief is that we are starting to see the sell-off that I have been talking about for a while based upon the fact that inter-market correlations are not functioning as usual and that there are huge market dis-connects in play.  Time will tell if I am right but there appeared to be a huge move out of momentum stocks and many technology stocks after bio-techs had been hit earlier in the week.\r\n\r\n&nbsp;\r\n\r\n<b><span style=\"text-decoration: underline;\">2. TRADING SUMMARY:</span></b>\r\n<p align=\"center\"><b><span style=\"text-decoration: underline;\">RADAR, FLASH and FUNDAMENTAL TRADES\r\n</span></b><b><span style=\"text-decoration: underline;\">APRIL 2014 and YEAR to date:</span></b></p>\r\nBelow I show the up to date performances for my various trading styles. Full excel spreadsheets are in the subscriber area of the PREMIUM SERVICE.\r\n<p align=\"center\"><b><span style=\"text-decoration: underline;\">RADAR TRADES – APRIL 2014…TO DATE:\r\n</span></b><b><span style=\"text-decoration: underline;\">PROFITS FROM SINGLE LOT COMPLETED RADAR TRADES:</span></b></p>\r\n<p align=\"center\">1 x MICRO-LOT:\r\n2 trades at $0.10 cents each = $0.20 risk for $3.00 profit.</p>\r\n<p align=\"center\">1 x MINI-LOT:\r\n2 trades at $1.00 each = $2.00 risk for $30.00 profit.</p>\r\n<p align=\"center\">1 x STANDARD LOT:\r\n2 trades at $10.00 each = $20.00 risk for $300.00 profit.<b style=\"line-height: 1.5em;\"><span style=\"text-decoration: underline;\"> </span></b></p>\r\n<p align=\"center\"><b><span style=\"text-decoration: underline;\">FLASH TRADES – APRIL 2014…TO DATE:\r\n</span></b><b><span style=\"text-decoration: underline;\">PROFITS FROM SINGLE LOT COMPLETED FLASH TRADES:</span></b></p>\r\n<p align=\"center\">1 x MICRO-LOT:\r\n6 trades at $0.10 cents each = $0.60 cents risk for $26.10 profit.</p>\r\n<p align=\"center\">1 x MINI-LOT:\r\n6 trades at $1.00 each = $6.00 risk for $261.00 profit.</p>\r\n<p align=\"center\">1 x STANDARD LOT:\r\n6 trades at $10.00 each = $60.00 risk for $2,610.00 profit.</p>\r\n<p align=\"center\"><b><span style=\"text-decoration: underline;\">FUNDAMENTAL TRADES – APRIL 2014…TO DATE:\r\n</span></b><b><span style=\"text-decoration: underline;\">PROFITS FROM SINGLE LOT COMPLETED FUNDAMENTAL TRADES:</span></b></p>\r\n<p align=\"center\">1 x MICRO-LOT:\r\n2 trades at $0.10 cents each = $0.20 cents risk for $3.40 profit.</p>\r\n<p align=\"center\">1 x MINI-LOT:\r\n2 trades at $1.00 each = $2.00 risk for $34.00 profit.</p>\r\n<p align=\"center\">1 x STANDARD LOT:\r\n2 trades at $10.00 each = $20.00 risk for $340.00 profit.</p>\r\n<p align=\"center\"><b><span style=\"text-decoration: underline;\">COMBINED FLASH, RADAR AND FUNDAMENTAL TRADES PROFIT PERFORMANCE\r\n</span></b><b><span style=\"text-decoration: underline;\">APRIL 2014…TO DATE:</span></b></p>\r\n<p align=\"center\">TRADING MICRO-LOTS:\r\n10 trades at $0.10 cents each = $1.00 risk for $32.50 profit.</p>\r\n<p align=\"center\">TRADING MINI-LOTS:\r\n10 trades at $1.00 each = $10.00 risk for $325.00 profit.</p>\r\n<p align=\"center\">TRADING STANDARD LOTS:\r\n10 trades at $10.00 each = $100.00 risk for $3,250.00 profit.</p>\r\n<p align=\"center\"><b><span style=\"text-decoration: underline;\">COMBINED FLASH, RADAR AND FUNDAMENTAL TRADES PROFIT PERFORMANCE\r\n</span></b><b><span style=\"text-decoration: underline;\">TOTAL 2014…SO FAR:</span></b></p>\r\n<p align=\"center\">TRADING MICRO-LOTS:\r\n150 trades at $0.10 cents each = $15.00 risk for $236.00 profit.</p>\r\n<p align=\"center\">TRADING MINI-LOTS:\r\n150 trades at $1.00 each = $150.00 risk for $2,360.00 profit.</p>\r\n<p align=\"center\">TRADING STANDARD LOTS:\r\n150 trades at $10.00 each = $1,500.00 risk for $23,600.00 profit.</p>\r\nThe above examples are for illustration purposes only:\r\n\r\nThe profitability examples detailed above are based solely upon single lot trading, regardless of lot type. If multiple lot sizes are traded the profitability margins will be different than those shown.\r\n\r\nJust to provide more information so you understand where I am coming from with the risk / reward statements above. All of my trades are of different sizes and different size lot types. The above does not reflect the actual trading performance. I like to add to trades, profits are taken as the trade progresses and my overall cost average moves several times. All of my trades are of different lot styles. I trade a mixture of micro lots, mini lots and standard lots across my brokers.\r\n\r\nThe above results simply display your profit or loss if you placed a single lot trade on all the set-ups suggested and did nothing else.\r\n\r\n&nbsp;\r\n\r\n<b><span style=\"text-decoration: underline;\">3. THE FUNDAMENTAL TRADERS OVERVIEW:</span></b>\r\n<p style=\"text-align: center;\"><b></b><b>IS DRAGHI AND THE ECB COUNCIL A LAUGHING STOCK, OR ARE THEY JUST VERY CLEVER FECK**S?</b></p>\r\nThose of you who have been following me for sometime will know that one of my favourite subjects to write about is the ECB. I have joint citizenship UK / Canadian citizenship and lived for 6 years in both Ireland and Spain. I have history in that part of the world, I find the politics fascinating but at the same time childish, amateurish, inept and 100% reactive. Yes…you guessed it I have very strong opinions of Eurozone politics!\r\n\r\nLast Thursday the latest installment of the Draghi rock show took place. As usual he glided into the room as if 100% coated in Teflon, looking shifty like a corner street drug seller. He sits down in his chair and the pre-release document provided to him by Angela Merkel and the Bundesbank is read out and hard copies released to the press. Draghi’s testicles are connected to the AC in readiness for the Q &amp; A section while state of the art hidden strings and a virtual hand device are attached to his back. Finally, he placed a number of empty “Pepsi” cans on the table and placed an Adidas running shoe on this right foot.\r\n\r\nThe scene is now set.\r\n\r\nInterest rates were left unchanged 45 minutes prior to the press conference and the much talked about negative deposit rates were not adopted. In my mind I thought this would be a non-event. He will divulge what in his mind (rather Angela Merkel’s) is a huge amount of information, without actually telling us anything. This is basically what happened.\r\n\r\nDraghi is convinced that the markets will always buy verbal intervention without any evidence of follow through. This is a rather mis-guided belief in my opinion, Draghi did all he could to talk down the Euro at the press conference. At one point he actually said that the recent CPi numbers showing a Eurozone inflation rate of 0.5% was a surprise to him and that Easter coming late this year could be affecting the data. Holy Mother of God…an ECB President blaming Easter for his non-intervention… I have heard it all now.\r\n\r\nDraghi continually said that the ECB council talked about easing, and talked about QE, in fact he thought long and hard about the implications of QE, surely to God he did all his thinking and researching on QE long, long ago not just in the previous 5 minutes…pathetic.\r\n\r\nHe had options to encourage growth in the Eurozone: -\r\n<ol>\r\n	<li>An interest rate cut from the existing 0.25%.</li>\r\n	<li>A further LTRO (Long Term Refinancing Option).</li>\r\n	<li>Full on Quantitative Easing.</li>\r\n	<li>Negative deposit rates for Eurozone banks depositing money in the ECB.</li>\r\n</ol>\r\nApparently all four of the options above were discussed but none of the board members felt any of them warranted a meeting with Angela to see if they could get permission to introduce one of these options to help Eurozone members and stimulate growth.\r\n\r\nDraghi was told to remain dovish and this is what he did. He talked about stimulus…but talk is cheap. The Eurozone has DEFLATION and every politician and central banker is in denial even after numbers are released. It is quite a pathetic catalogue of quotes and excuses for no action.\r\n\r\nSo are Draghi and his cronies idiots and a laughing stock on the worlds stage or are they very clever feck**s?\r\n\r\nTalk is cheap…he said nothing and did nothing and the EUR/USD dropped…result.\r\n\r\nDraghi said he and he buddies at the ECB talked over all the options and that easing with conventional and unconventional measures are not ruled out. QE, Interest Rate Cuts and Negative Deposit Rates all discussed. He talked about the EUR exchange rate being increasingly important but it was yet to be a policy in its own right. He also said that the Eurozone economic outlook is still looking to the downside and that Protracted Stagnation is still a huge fear. All of these items are negative for the single currency moving forward.\r\n\r\nOn the single currency positive side he stated that the ECB council did not agree that March’s data should be used in isolation to affect their outlook. CPi was not as weak as PPi. (My daddy’s got a bigger one that your daddy!!). Deflation risks had NOT increased (lie) he stated that he expected April to pick up (Crystal ball time). The ECB were very, very happy with forward guidance (I am happy for them).\r\n\r\nThose last two paragraphs basically summarized what happened.\r\n\r\nThe problem that I have is that Eurozone deflationary data has been published month after month and the ECB is in denial. They offer nothing other than verbal intervention and do nothing. They really do adopt the “Kicking of the can down the road” approach to all matters. The 2014 Pontius Pilate approach to managing the Eurozone is far from impressive and lacks decisiveness and leadership.\r\n\r\nQuite frankly, although the German control of the Eurozone may add stability to the financial markets, it actually holds back the periphery. Record unemployment and stagnation is not an equitable trade off in my opinion.\r\n\r\nPersonally, I think the whole puppet approach to the ECB from Frankfurt and Berlin makes the ECB a laughing stock but they are clever feck**s the way they do nothing but are able to manipulate the markets. How long this manipulation can continue for is debatable, but as long as the markets are mis-informed yet still able to drive themselves forward on “GREED” based initiatives nothing will change. Central Bankers around the world do not want to make hard / tough decisions and bring “FEAR” into the marketplace so I think the people of the Eurozone in particular have to put up with Austerity, no jobs, poor social support and lack of spending on health, education and infrastructure. It\'s a very sad world.\r\n\r\n&nbsp;\r\n\r\n<b><span style=\"text-decoration: underline;\">4. TRADER TOPICS:</span></b>\r\n<p style=\"text-align: center;\"><b></b><b><span style=\"text-decoration: underline;\">MAXIMISING PROFIT POTENTIAL BY PROPERLY SIZING POSITIONS:</span></b></p>\r\nMany traders begin trading by risking one lot (micro, mini or standard size) for each trade. For the purpose of this document, I am going to assume that the novice trader has already learned how to plan their entries and exits and have a TRADING PLAN.\r\n\r\nRegardless of the magnitude of the trade, new traders tend to use the same size position for every trade. Therefore a trade with a 200-pip stop will carry 5 times the risk of a trade with a 40-pip stop. This means an uncontrolled variable can have a huge effect and can greatly adjust the results. To eliminate this variable all we have to do as traders is simply adjust the position size of a trade so that every trade carries with it a similar amount of risk. As I have written before I think that it is sensible to risk only 1% maximum of your account balance in any trade. This I think is an acceptable risk tolerance.\r\n\r\nCalculating position is very easy. First take your account balance and multiply it by 1%.\r\n\r\nA $10,000 account at 1% risk tolerance equals $100.00 per trade risk.\r\n<div>\r\n<p style=\"text-align: center;\"><strong><span style=\"text-decoration: underline;\">TRADE EXAMPLE - 1:\r\n</span>EUR/USD</strong>\r\n<strong>Present Price: 1.3800.</strong>\r\n<strong>Stop Loss level: Fibonacci level 1.3855 (allowing 15 extra pips for stop loss run potential).  </strong>\r\n<strong>Stop Loss level is therefore1.3870 (70 pips in total)</strong>\r\n<strong>$100 (risk tolerance) / 70 (pips stop loss) = 1.42.</strong>\r\n<strong>Rounding down for this trade the maximum limit is 1 x mini lot</strong>\r\n<strong>Or</strong>\r\n<strong>Using micro lots the maximum trade is 14 x micro lots.</strong></p>\r\n\r\n</div>\r\n<div>\r\n<p style=\"text-align: center;\"><strong><span style=\"text-decoration: underline;\">TRADE EXAMPLE - 2:\r\n</span>AUD/USD</strong>\r\n<strong>Present Price: 0.9280</strong>\r\n<strong>Stop Loss: 0.9320 (40 pips in total)</strong>\r\n<strong>$100 (risk tolerance) / 40 (pips stop loss) = 2.5.</strong>\r\n<strong>Rounding down for this trade the maximum limit is 2 x mini lots.</strong>\r\n<strong>Or</strong>\r\n<strong>Using micro lots the maximum trade is 25 x micro lots.</strong></p>\r\n\r\n</div>\r\nAs you can see as you trade down in position sizes the flexibility in approach increases. Trading mini lots does not allow you to trade the maximum risk available within your TRADING PLAN.\r\n\r\nIn the above example, you can trade 2 x mini lots to meet your TRADING PLAN guidelines. However, by trading in micro lots you are able to trade 25 micro lots to maximize your trade size and also your potential profits without breaking your risk tolerance as per your TRADING PLAN.\r\n\r\nAdditionally, let us assume that the trade limit target was 0.9210. 70 pips below the entry level and that this trade played out perfectly.\r\n\r\nIf you had just traded 2 x mini lots as per your options your profit would have been 70 x 2 = $140.00.\r\n\r\nHowever, had you traded 25 micro lots your profit from the same trade maximizing your risk tolerance would have been 70 x 2.5 = $175.00 (25% more).\r\n\r\nThis is very simple and effective without breaking your TRADING PLAN guidelines.\r\n\r\nIf you have a larger account balance the same applies when trading down from Standard Lot sizes to Mini lots.\r\n\r\nThis is all about making your trading work for you. In my daily trading activity I trade all three-lot sizes and trade standard, mini and micro lots based upon the currency pair that I am trading and the type of trade that I have entered (FLASH, RADAR or FUNDAMENTAL). This gives me as much flexibility as possible with my trading.\r\n\r\n&nbsp;\r\n\r\n<b><span style=\"text-decoration: underline;\">5. MY CURRENT LIVE TRADES:</span></b>\r\n<p style=\"text-align: center;\"><strong><span style=\"text-decoration: underline;\">FLASH TRADES:</span></strong></p>\r\n<p style=\"text-align: center;\"><strong> USD/CAD</strong>\r\n<strong>Long</strong>\r\n<strong>Cost Average / Entry Level: 1.1061</strong>\r\n<strong>Stop Loss: 1.0850</strong>\r\n<strong>Limit / Target: 1.1600</strong>\r\n<strong>Weekly Closing Price: 1.0980</strong>\r\n<strong>Position - 81pips</strong></p>\r\n<p style=\"text-align: center;\"><strong>USD/CHF</strong>\r\n<strong>Long</strong>\r\n<strong>Cost Average / Entry Level: 0.8937</strong>\r\n<strong>Stop Loss: 0.8800</strong>\r\n<strong>Limit / Target: 0.9250</strong>\r\n<strong>Weekly Closing Price: 0.8911</strong>\r\n<strong>Position – 26pips</strong></p>\r\n<p style=\"text-align: center;\"><strong>USD/SEK</strong>\r\n<strong>Long</strong>\r\n<strong>Cost Average / Entry Level: 6.5442</strong>\r\n<strong>Stop Loss: 6.5000</strong>\r\n<strong>Limit / Target: 8.0000</strong>\r\n<strong>Weekly Closing Price: 1.65533</strong>\r\n<strong>Position +112 pips</strong></p>\r\n<p style=\"text-align: center;\"><strong>NZD/USD</strong>\r\n<strong>Short</strong>\r\n<strong>Cost Average / Entry Level: 0.8588</strong>\r\n<strong>Stop Loss: 0.8650</strong>\r\n<strong>Limit / Target: 0.8000</strong>\r\n<strong>Weekly Closing Price: 0.8572</strong>\r\n<strong>Position +16 pips</strong></p>\r\n<b><span style=\"text-decoration: underline;\"> </span></b>\r\n<p style=\"text-align: center;\"><b><span style=\"text-decoration: underline;\">RADAR TRADES:</span></b></p>\r\n<p style=\"text-align: center;\">I have no LIVE RADAR trades at the moment.</p>\r\n<b><span style=\"text-decoration: underline;\"> </span></b>\r\n<p style=\"text-align: center;\"><strong><span style=\"text-decoration: underline;\">FUNDAMENTAL TRADES:</span></strong></p>\r\n<p style=\"text-align: center;\"><strong>FUN14 (This trade is hedged from -150 pips)</strong>\r\n<strong>GBP/NZD</strong>\r\n<strong>Long</strong>\r\n<strong>Cost Average: 1.9950</strong>\r\n<strong>Stop Loss: 1.9000</strong>\r\n<strong>Limit / Target: 2.2350</strong>\r\n<strong>My Position Size: 7.5%</strong>\r\n<strong>Closing Weekly Position: 1.9249</strong>\r\n<strong><span style=\"line-height: 1.5em;\">My present Profit/Loss position: - 601pips</span></strong></p>\r\n<p style=\"text-align: center;\"><strong><span style=\"text-decoration: underline;\"> </span></strong></p>\r\n<b><span style=\"text-decoration: underline;\">6. TRADES THAT ARE ON MY RADAR:</span></b>\r\n\r\nThere are not a great number of trades on my radar this week. These will hopefully evolve as the week progresses. I am not trading for the sake of trading.\r\n<p style=\"text-align: center;\"><strong>AUD/CHF</strong>\r\n<strong> Long:  </strong>\r\n<strong> Limit order entry: 0.8250</strong>\r\n<strong>Stop Loss: 0.8040</strong>\r\n<strong><span style=\"line-height: 1.5em;\">Limit: 0.8720</span> </strong></p>\r\n<p style=\"text-align: center;\"><strong>CAD/CHF</strong>\r\n<strong> Long: </strong>\r\n<strong> Limit order entry: 0.8100</strong>\r\n<strong>Stop Loss: 0.7970</strong>\r\n<strong><span style=\"line-height: 1.5em;\">Limit: 0.8450</span></strong></p>\r\n<p style=\"text-align: center;\"><strong>AUD/USD</strong>\r\n<strong>Short</strong>\r\n<strong>Limit Order Entry: 0.9320</strong>\r\n<strong>Stop Loss: 0.9350</strong>\r\n<strong>Limit: 0.8500</strong></p>\r\nI am looking at the commodity cross rates like the EUR/NZD, GBP/NZD, EUR/AUD, GBP/AUD, EUR/CAD and GBP/CAD as well as the AUD/NZD but right now these pairs need in most cases to cross certain levels in order for me to get interested in trading them, such as EUR/AUD. I hate trading this short and I really want to see a move back above 1.5000 before I can get serious. The EUR/CAD is another case in point; I really want to see 1.5150 again before I can get serious about trading this back in the long direction.\r\n\r\nThe reaction next week with the AUD/USD and NZD/USD will be instrumental on my trading activity in the sessions ahead.\r\n\r\n&nbsp;\r\n\r\n<b><span style=\"text-decoration: underline;\">7. LOOKING FORWARD…THE KEY SUPPORT &amp; RESISTANCE LEVELS WITH THE USD MAJORS:</span></b>\r\n\r\n<b>EUR/USD: Closing Price 1.3701.</b>  We close at the breakdown level. The next few trading sessions next week will determine the general direction of the upcoming forex moves in the market overall. As the most liquid currency pair the EUR/USD directs, pulls and influences currencies with it, whichever way it trades.  I see the trading range as 1.3640 to 1.3850. A break from this range should, I hope, set up the market nicely for some nice moves.\r\n\r\n<b>GBP/USD: Closing Price 1.6559.  </b>We close the week below 1.6600. I had thought earlier in the week that should I witness this event I would be over this pair like a rash to the short side. I haven’t even thought about trading it.  I have real fears about trading cable as it has a nasty habit of getting you as a trader set up for a move and then it just turns about face and heads off in the opposite direction. Technically it looks like 1.6250 is next major support and then it does not get bullish again unless we break above 1.6750.\r\n\r\n<b>AUD/USD: Closing Price 0.9288</b>.  There was a nice bullish run after NFP to take this pair back towards resistance at 0.9300. I am looking to short this pair again soon…I was going to enter short the same time that I shorted the NZD/USD after NFP but I wanted to wait for stops to be taken above 0.9300. That of course did not happen and now I face the timing issue of entering short.Ideally, I wanted to get short around 0.9320.  The trading range that I will be monitoring over the coming sessions is 0.9200 to 0.9320.\r\n\r\n<b>NZD/USD: Closing Price 0.8572</b>.  Just like the AUD/USD, this pair had a lovely little bull run to enable all those traders like myself to enter short around 0.8600. At this level you know what your ultimate risk is, which is of course multi year highs at 0.8693. Support that I really want to see taken out lies at 0.8450.\r\n\r\n<b>USD/CAD: Closing Price 1.0980.</b>  I am getting very frustrated by my home- based currency. It really does live up to its name the “Loonie”. I am still bullish as long as we are above 1.0880, which is a multi year support trend line. I really want a loonie move to take out resistance above 1.1230 to really set this pair up for a run at 1.1600, which is where I think the technical stake us. I fear that we will hover around 1.0950 to 1.1050 for a while. There is no major CAD news this week so hopefully it will consolidate and get ready to bounce upwards.\r\n\r\n<b>USD/CHF: Closing Price 0.8911</b>.  I am long this pair and looking to add other CHF crosses. I have as per the section TRADES ON MY RADAR two further limit orders waiting to be triggered. We closed above 0.8900, which was crucial. Now I believe that a move to 0.9300 is possibly worth talking about in the medium term. We shall see if that trade will happen early next week depending upon the first few trading sessions, nevertheless I remain bullish this pair as it is in breakout territory. The trading range that I am looking at is support at 0.8850 and resistance at 0.9000.\r\n\r\n<b>USD/JPY: Closing Price 103.23.  </b>This pair closes the week up over last weeks close but down significantly on where it started just prior to NFP. The next few sessions will be crucial for the USD/JPY and all the JPY crosses. If equities start to sell off, Abe’s vision of a weakening JPY currency may be placed on hold for a wee while. The range going forward that interests me is support at 102.60 and resistance back at 104.45.\r\n\r\n<span style=\"text-decoration: underline;\"> </span>\r\n\r\n<b><span style=\"text-decoration: underline;\">8. MAJOR FOREX NEWS THIS WEEK THAT INTERESTS ME:</span></b>\r\n\r\nSUNDAY: N/A.\r\n\r\nMONDAY: N/A.\r\n\r\nTUESDAY: N/A.\r\n\r\nWEDNESDAY: USD – FOMC Meeting Minutes.\r\nWEDNESDAY: AUD – Employment Data.\r\n\r\nTHURSDAY: N/A.\r\n\r\nFRIDAY: N/A.<b></b>\r\n\r\n<b><span style=\"text-decoration: underline;\"> </span></b>\r\n\r\n<b><span style=\"text-decoration: underline;\">9. FINAL THOUGHTS:</span></b>\r\n\r\nNot a huge amount of news items catch my eye this week. There is not much to talk about in my view; I think equities will direct the forex market over the next few sessions. Only the FOMC and Australian Employment Data really interest me\r\n\r\nAs you know, I am always looking for the signs that show that equities are starting to reverse and with the NASDAQ sell off on Friday last week, this could be where it starts. The EUR/USD is on the cusp of a breakdown and this will also pull the forex market.\r\n\r\nIn addition, I still think that there is a degree of uncertainty in the equity market regarding the grind higher and any excuse will be used to both start and justify the pullback / correction.\r\n\r\nTherefore, this is not a time to be a hero. Do not try to pick tops or bottoms just go with the flow and trade if you see an opportunity. Do not force trades let them come to you?\r\n\r\nTake care and good luck. Be careful with position sizes.\r\n\r\nScott Pickering\r\nThe Pip Accumulator\r\nSaturday April 5th 2014\r\n\r\nEMAIL / FOLLOW ME AT:\r\npremiumservice@weeklyfxdrivethru.com\r\nTwitter: @pipaccumulator\r\nTwitter: @ThePremService\r\n<span style=\"line-height: 1.5em;\">Google+/scottpickering</span>\r\n\r\n&nbsp;','IS DRAGHI AND THE ECB COUNCIL A LAUGHING STOCK, OR ARE THEY JUST VERY CLEVER FECK**S?','','inherit','open','closed','','3421-revision-v1','','','2014-04-05 12:12:57','2014-04-05 17:12:57','',3421,'https://weeklyfxdrivethru.com/3421-revision-v1/',0,'revision','',0),(3424,1,'2014-04-05 12:33:53','2014-04-05 17:33:53','<b style=\"line-height: 1.5em;\"><span style=\"text-decoration: underline;\">1. INTRODUCTION:</span></b>\r\n\r\nThe chop fest continued during the past week.\r\n\r\nThe PREMIUM SERVICE continues to make money albeit at a slightly reduced level due to the tougher market conditions but it’s a profit and I am very happy. Subscriber levels increase each week and the new DAILY FX POST with a brief overview of my initial thoughts plus any trading ideas is now a week old. The number of tweets to the exclusive subscriber Twitter Account is now past 1,000 since the PREMIUM SERVICE was launched. So all is good…I just want the market to show a consistent direction.\r\n\r\nThe two big news events over the last 7 days have passed.\r\n\r\nThe ECB press conference on Thursday last was a joke as far as I am concerned and I have thought long and hard about what Draghi actually said and didn’t say. I have decided to make this the subject of the comment piece this week.\r\n\r\nU.S. Non-Farm payrolls came and went with the usual flurry of guests on CNBC guessing beforehand then with egg on their faces after the event denying what they had previously said. Great TV….is this station part of my Disney package? It must be it’s not a serious business channel.\r\n\r\nPrior to NFP I was in one trade the USD/CAD. I added trades in USD/CHF, USD/SEK, NZD/USD and placed limit orders on AUD/CHF and CAD/CHF. This was an active NFP day for me. Usually I watch and giggle as the forex market takes out traders at both extremes. My lead indicator USD/SEK was the hook to pull me in. It never really jolted about and that was the determining factor as far as I was concerned.\r\n\r\nIn addition, I must comment on the fact that U.S. equities sold off very hard after NFP. Why?\r\n\r\nMy belief is that we are starting to see the sell-off that I have been talking about for a while based upon the fact that inter-market correlations are not functioning as usual and that there are huge market dis-connects in play.  Time will tell if I am right but there appeared to be a huge move out of momentum stocks and many technology stocks after bio-techs had been hit earlier in the week.\r\n\r\n<b><span style=\"text-decoration: underline;\"> </span></b>\r\n\r\n<b><span style=\"text-decoration: underline;\">2. THE VIEW FROM MY TRADING DESK:</span></b>\r\n<p align=\"center\"><b>IS DRAGHI AND THE ECB COUNCIL A LAUGHING STOCK, OR ARE THEY JUST VERY CLEVER FECK**S?</b></p>\r\nThose of you who have been following me for sometime will know that one of my favourite subjects to write about is the ECB. I have joint citizenship UK / Canadian citizenship and lived for 6 years in both Ireland and Spain. I have history in that part of the world, I find the politics fascinating but at the same time childish, amateurish, inept and 100% reactive. Yes…you guessed it I have very strong opinions of Eurozone politics!\r\n\r\nLast Thursday the latest installment of the Draghi rock show took place. As usual he glided into the room as if 100% coated in Teflon, looking shifty like a corner street drug seller. He sits down in his chair and the pre-release document provided to him by Angela Merkel and the Bundesbank is read out and hard copies released to the press. Draghi’s testicles are connected to the AC in readiness for the Q &amp; A section while state of the art hidden strings and a virtual hand device are attached to his back. Finally, he placed a number of empty “Pepsi” cans on the table and placed an Adidas running shoe on this right foot.\r\n\r\nThe scene is now set.\r\n\r\nInterest rates were left unchanged 45 minutes prior to the press conference and the much talked about negative deposit rates were not adopted. In my mind I thought this would be a non-event. He will divulge what in his mind (rather Angela Merkel’s) is a huge amount of information, without actually telling us anything. This is basically what happened.\r\n\r\nDraghi is convinced that the markets will always buy verbal intervention without any evidence of follow through. This is a rather mis-guided belief in my opinion, Draghi did all he could to talk down the Euro at the press conference. At one point he actually said that the recent CPi numbers showing a Eurozone inflation rate of 0.5% was a surprise to him and that Easter coming late this year could be affecting the data. Holy Mother of God…an ECB President blaming Easter for his non-intervention… I have heard it all now.\r\n\r\nDraghi continually said that the ECB council talked about easing, and talked about QE, in fact he thought long and hard about the implications of QE, surely to God he did all his thinking and researching on QE long, long ago not just in the previous 5 minutes…pathetic.\r\n\r\nHe had options to encourage growth in the Eurozone: -\r\n<ol>\r\n	<li>An interest rate cut from the existing 0.25%.</li>\r\n	<li>A further LTRO (Long Term Refinancing Option).</li>\r\n	<li>Full on Quantitative Easing.</li>\r\n	<li>Negative deposit rates for Eurozone banks depositing money in the ECB.</li>\r\n</ol>\r\nApparently all four of the options above were discussed but none of the board members felt any of them warranted a meeting with Angela to see if they could get permission to introduce one of these options to help Eurozone members and stimulate growth.\r\n\r\nDraghi was told to remain dovish and this is what he did. He talked about stimulus…but talk is cheap. The Eurozone has DEFLATION and every politician and central banker is in denial even after numbers are released. It is quite a pathetic catalogue of quotes and excuses for no action.\r\n\r\nSo are Draghi and his cronies idiots and a laughing stock on the worlds stage or are they very clever feck**s?\r\n\r\nTalk is cheap…he said nothing and did nothing and the EUR/USD dropped…result.\r\n\r\nDraghi said he and he buddies at the ECB talked over all the options and that easing with conventional and unconventional measures are not ruled out. QE, Interest Rate Cuts and Negative Deposit Rates all discussed. He talked about the EUR exchange rate being increasingly important but it was yet to be a policy in its own right. He also said that the Eurozone economic outlook is still looking to the downside and that Protracted Stagnation is still a huge fear. All of these items are negative for the single currency moving forward.\r\n\r\nOn the single currency positive side he stated that the ECB council did not agree that March’s data should be used in isolation to affect their outlook. CPi was not as weak as PPi. (My daddy’s got a bigger one that your daddy!!). Deflation risks had NOT increased (lie) he stated that he expected April to pick up (Crystal ball time). The ECB were very, very happy with forward guidance (I am happy for them).\r\n\r\nThose last two paragraphs basically summarized what happened.\r\n\r\nThe problem that I have is that Eurozone deflationary data has been published month after month and the ECB is in denial. They offer nothing other than verbal intervention and do nothing. They really do adopt the “Kicking of the can down the road” approach to all matters. The 2014 Pontius Pilate approach to managing the Eurozone is far from impressive and lacks decisiveness and leadership.\r\n\r\nQuite frankly, although the German control of the Eurozone may add stability to the financial markets, it actually holds back the periphery. Record unemployment and stagnation is not an equitable trade off in my opinion.\r\n\r\nPersonally, I think the whole puppet approach to the ECB from Frankfurt and Berlin makes the ECB a laughing stock but they are clever feck**s the way they do nothing but are able to manipulate the markets. How long this manipulation can continue for is debatable, but as long as the markets are mis-informed yet still able to drive themselves forward on “GREED” based initiatives nothing will change. Central Bankers around the world do not want to make hard / tough decisions and bring “FEAR” into the marketplace so I think the people of the Eurozone in particular have to put up with Austerity, no jobs, poor social support and lack of spending on health, education and infrastructure. It\'s a very sad world.\r\n\r\n<b style=\"line-height: 1.5em;\"><span style=\"text-decoration: underline;\">\r\n</span></b>\r\n\r\n<b><span style=\"text-decoration: underline;\">3. THE PREMIUM SERVICE - TRADING SUMMARY:</span></b>\r\n\r\nAs we have now completed the first quarter of 2014, I thought that it would be a good idea to show the year to date performance so far on the success of the PREMIUM SERVICE.\r\n\r\nFull details of what the PREMIUM SERVICE is all about and the benefits that it can bring to your trading can be found at <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a> by selecting PREMIUM SERVICE, SIGN UP or SPECIAL OFFERS from the drop down menu at the top of the welcome page.\r\n\r\nThere are now many sign up options to suit all budgets to enable you to try and see if the PREMIUM SERVICE adds value to your trading. If you have questions you can email me <a href=\"mailto:premiumservice@weeklyfxdrivethru.com\">premiumservice@weeklyfxdrivethru.com</a>\r\n<p align=\"center\"><b><span style=\"text-decoration: underline;\">2014 SUMMARY TO DATE:</span></b></p>\r\n<p align=\"center\"><b><span style=\"text-decoration: underline;\">RADAR, FLASH and FUNDAMENTAL TRADES\r\n</span></b><b><span style=\"text-decoration: underline;\">APRIL 2014 and YEAR to date:</span></b></p>\r\n<p style=\"text-align: center;\">Below I show the up to date performances for my various trading styles. Full excel spreadsheets are in the subscriber area of the PREMIUM SERVICE.</p>\r\n<p align=\"center\"><b><span style=\"text-decoration: underline;\">RADAR TRADES – APRIL 2014…TO DATE:\r\n</span></b><b><span style=\"text-decoration: underline;\">PROFITS FROM SINGLE LOT COMPLETED RADAR TRADES:</span></b></p>\r\n<p align=\"center\">1 x MICRO-LOT:\r\n2 trades at $0.10 cents each = $0.20 risk for $3.00 profit.</p>\r\n<p align=\"center\"><span style=\"line-height: 1.5em;\">1 x MINI-LOT:\r\n</span><span style=\"line-height: 1.5em;\">2 trades at $1.00 each = $2.00 risk for $30.00 profit.</span></p>\r\n<p align=\"center\">1 x STANDARD LOT:\r\n2 trades at $10.00 each = $20.00 risk for $300.00 profit.</p>\r\n<p align=\"center\"><b><span style=\"text-decoration: underline;\">FLASH TRADES – APRIL 2014…TO DATE:\r\n</span></b><b><span style=\"text-decoration: underline;\">PROFITS FROM SINGLE LOT COMPLETED FLASH TRADES:</span></b></p>\r\n<p align=\"center\">1 x MICRO-LOT:\r\n6 trades at $0.10 cents each = $0.60 cents risk for $26.10 profit.</p>\r\n<p align=\"center\">1 x MINI-LOT:\r\n6 trades at $1.00 each = $6.00 risk for $261.00 profit.</p>\r\n<p align=\"center\">1 x STANDARD LOT:\r\n6 trades at $10.00 each = $60.00 risk for $2,610.00 profit.<b style=\"line-height: 1.5em;\"><span style=\"text-decoration: underline;\"> </span></b></p>\r\n<p align=\"center\"><b><span style=\"text-decoration: underline;\">FUNDAMENTAL TRADES – APRIL 2014…TO DATE:\r\n</span></b><b><span style=\"text-decoration: underline;\">PROFITS FROM SINGLE LOT COMPLETED FUNDAMENTAL TRADES:</span></b></p>\r\n<p align=\"center\">1 x MICRO-LOT:\r\n2 trades at $0.10 cents each = $0.20 cents risk for $3.40 profit.</p>\r\n<p align=\"center\">1 x MINI-LOT:\r\n2 trades at $1.00 each = $2.00 risk for $34.00 profit.</p>\r\n<p align=\"center\">1 x STANDARD LOT:\r\n2 trades at $10.00 each = $20.00 risk for $340.00 profit.</p>\r\n<p align=\"center\"><b><span style=\"text-decoration: underline;\">COMBINED FLASH, RADAR AND FUNDAMENTAL TRADES PROFIT PERFORMANCE\r\n</span></b><b><span style=\"text-decoration: underline;\">APRIL 2014…TO DATE:</span></b></p>\r\n<p align=\"center\">TRADING MICRO-LOTS:\r\n10 trades at $0.10 cents each = $1.00 risk for $32.50 profit.</p>\r\n<p align=\"center\">TRADING MINI-LOTS:\r\n10 trades at $1.00 each = $10.00 risk for $325.00 profit.</p>\r\n<p align=\"center\">TRADING STANDARD LOTS:\r\n10 trades at $10.00 each = $100.00 risk for $3,250.00 profit.</p>\r\n<p align=\"center\"><b><span style=\"text-decoration: underline;\">COMBINED FLASH, RADAR AND FUNDAMENTAL TRADES PROFIT PERFORMANCE\r\n</span></b><b><span style=\"text-decoration: underline;\">TOTAL 2014…SO FAR:</span></b></p>\r\n<p align=\"center\">TRADING MICRO-LOTS:\r\n150 trades at $0.10 cents each = $15.00 risk for $236.00 profit.</p>\r\n<p align=\"center\">TRADING MINI-LOTS:\r\n150 trades at $1.00 each = $150.00 risk for $2,360.00 profit.</p>\r\n<p align=\"center\">TRADING STANDARD LOTS:\r\n150 trades at $10.00 each = $1,500.00 risk for $23,600.00 profit.</p>\r\n&nbsp;\r\n\r\nThe above examples are for illustration purposes only:\r\n\r\nThe profitability examples detailed above are based solely upon single lot trading, regardless of lot type. If multiple lot sizes are traded the profitability margins will be different than those shown.\r\n\r\nJust to provide more information so you understand where I am coming from with the risk / reward statements above. All of my trades are of different sizes and different size lot types. The above does not reflect the actual trading performance. I like to add to trades, profits are taken as the trade progresses and my overall cost average moves several times. All of my trades are of different lot styles. I trade a mixture of micro lots, mini lots and standard lots across my brokers.\r\n\r\nThe above results simply display your profit or loss if you placed a single lot trade on all the set-ups suggested and did nothing else.\r\n\r\n&nbsp;\r\n\r\n<b><span style=\"text-decoration: underline;\">4. LOOKING FORWARD…THE KEY SUPPORT &amp; RESISTANCE LEVELS WITH THE USD MAJORS:</span></b>\r\n\r\n<b>EUR/USD: Closing Price 1.3701.</b>  We close at the breakdown level. The next few trading sessions next week will determine the general direction of the upcoming forex moves in the market overall. As the most liquid currency pair the EUR/USD directs, pulls and influences currencies with it, whichever way it trades.  I see the trading range as 1.3640 to 1.3850. A break from this range should, I hope, set up the market nicely for some nice moves.\r\n\r\n<b>GBP/USD: Closing Price 1.6559.  </b>We close the week below 1.6600. I had thought earlier in the week that should I witness this event I would be over this pair like a rash to the short side. I haven’t even thought about trading it.  I have real fears about trading cable as it has a nasty habit of getting you as a trader set up for a move and then it just turns about face and heads off in the opposite direction. Technically it looks like 1.6250 is next major support and then it does not get bullish again unless we break above 1.6750.\r\n\r\n<b>AUD/USD: Closing Price 0.9288</b>.  There was a nice bullish run after NFP to take this pair back towards resistance at 0.9300. I am looking to short this pair again soon…I was going to enter short the same time that I shorted the NZD/USD after NFP but I wanted to wait for stops to be taken above 0.9300. That of course did not happen and now I face the timing issue of entering short.Ideally, I wanted to get short around 0.9320.  The trading range that I will be monitoring over the coming sessions is 0.9200 to 0.9320.\r\n\r\n<b>NZD/USD: Closing Price 0.8572</b>.  Just like the AUD/USD, this pair had a lovely little bull run to enable all those traders like myself to enter short around 0.8600. At this level you know what your ultimate risk is, which is of course multi year highs at 0.8693. Support that I really want to see taken out lies at 0.8450.<b> </b>\r\n\r\n<b>USD/CAD: Closing Price 1.0980.</b>  I am getting very frustrated by my home- based currency. It really does live up to its name the “Loonie”. I am still bullish as long as we are above 1.0880, which is a multi year support trend line. I really want a loonie move to take out resistance above 1.1230 to really set this pair up for a run at 1.1600, which is where I think the technical stake us. I fear that we will hover around 1.0950 to 1.1050 for a while. There is no major CAD news this week so hopefully it will consolidate and get ready to bounce upwards.\r\n\r\n<b>USD/CHF: Closing Price 0.8911</b>.  I am long this pair and looking to add other CHF crosses. I have as per the section TRADES ON MY RADAR two further limit orders waiting to be triggered. We closed above 0.8900, which was crucial. Now I believe that a move to 0.9300 is possibly worth talking about in the medium term. We shall see if that trade will happen early next week depending upon the first few trading sessions, nevertheless I remain bullish this pair as it is in breakout territory. The trading range that I am looking at is support at 0.8850 and resistance at 0.9000.<b> </b>\r\n\r\n<b>USD/JPY: Closing Price 103.23.  </b>This pair closes the week up over last weeks close but down significantly on where it started just prior to NFP. The next few sessions will be crucial for the USD/JPY and all the JPY crosses. If equities start to sell off, Abe’s vision of a weakening JPY currency may be placed on hold for a wee while. The range going forward that interests me is support at 102.60 and resistance back at 104.45.\r\n\r\n<span style=\"text-decoration: underline;\"> </span>\r\n\r\n<b><span style=\"text-decoration: underline;\">5. MAJOR FOREX NEWS THIS WEEK THAT INTERESTS ME:</span></b>\r\n\r\nSUNDAY: N/A.\r\n\r\nMONDAY: N/A.\r\n\r\nTUESDAY: N/A.\r\n\r\nWEDNESDAY: USD – FOMC Meeting Minutes.\r\nWEDNESDAY: AUD – Employment Data.\r\n\r\nTHURSDAY: N/A.\r\n\r\nFRIDAY: N/A.<b></b>\r\n\r\n&nbsp;\r\n\r\n<b><span style=\"text-decoration: underline;\">6. FINAL THOUGHTS:</span></b>\r\n\r\nNot a huge amount of news items catch my eye this week. There is not much to talk about in my view; I think equities will direct the forex market over the next few sessions. Only the FOMC and Australian Employment Data really interest me.\r\n\r\nAs you know, I am always looking for the signs that show that equities are starting to reverse and with the NASDAQ sell off on Friday last week, this could be where it starts. The EUR/USD is on the cusp of a breakdown and this will also pull the forex market.\r\n\r\nIn addition, I still think that there is a degree of uncertainty in the equity market regarding the grind higher and any excuse will be used to both start and justify the pullback / correction.\r\n\r\nTherefore, this is not a time to be a hero. Do not try to pick tops or bottoms just go with the flow and trade if you see an opportunity. Do not force trades let them come to you?\r\n\r\nTake care and good luck. Be careful with position sizes.\r\n\r\nScott Pickering\r\nThe Pip Accumulator\r\nSaturday April 5th 2014\r\n\r\nEMAIL / FOLLOW ME AT:\r\ndrivethru@weeklyfxdrivethru.com\r\nTwitter: @pipaccumulator\r\n<span style=\"line-height: 1.5em;\">Google+/scottpickering</span>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n&nbsp;','IS DRAGHI AND THE ECB COUNCIL A LAUGHING STOCK, OR ARE THEY JUST VERY CLEVER FECK**S?','','publish','open','closed','','draghi-ecb-council-laughing-stock-just-clever-fecks','','','2014-04-05 12:34:51','2014-04-05 17:34:51','',0,'https://weeklyfxdrivethru.com/?p=3424',0,'post','',0),(3426,1,'2014-04-05 12:33:28','2014-04-05 17:33:28','<b style=\"line-height: 1.5em;\"><span style=\"text-decoration: underline;\">1. INTRODUCTION:</span></b>\r\n\r\nThe chop fest continued during the past week.\r\n\r\nThe PREMIUM SERVICE continues to make money albeit at a slightly reduced level due to the tougher market conditions but it’s a profit and I am very happy. Subscriber levels increase each week and the new DAILY FX POST with a brief overview of my initial thoughts plus any trading ideas is now a week old. The number of tweets to the exclusive subscriber Twitter Account is now past 1,000 since the PREMIUM SERVICE was launched. So all is good…I just want the market to show a consistent direction.\r\n\r\nThe two big news events over the last 7 days have passed.\r\n\r\nThe ECB press conference on Thursday last was a joke as far as I am concerned and I have thought long and hard about what Draghi actually said and didn’t say. I have decided to make this the subject of the comment piece this week.\r\n\r\nU.S. Non-Farm payrolls came and went with the usual flurry of guests on CNBC guessing beforehand then with egg on their faces after the event denying what they had previously said. Great TV….is this station part of my Disney package? It must be it’s not a serious business channel.\r\n\r\nPrior to NFP I was in one trade the USD/CAD. I added trades in USD/CHF, USD/SEK, NZD/USD and placed limit orders on AUD/CHF and CAD/CHF. This was an active NFP day for me. Usually I watch and giggle as the forex market takes out traders at both extremes. My lead indicator USD/SEK was the hook to pull me in. It never really jolted about and that was the determining factor as far as I was concerned.\r\n\r\nIn addition, I must comment on the fact that U.S. equities sold off very hard after NFP. Why?\r\n\r\nMy belief is that we are starting to see the sell-off that I have been talking about for a while based upon the fact that inter-market correlations are not functioning as usual and that there are huge market dis-connects in play.  Time will tell if I am right but there appeared to be a huge move out of momentum stocks and many technology stocks after bio-techs had been hit earlier in the week.\r\n\r\n<b><span style=\"text-decoration: underline;\"> </span></b>\r\n\r\n<b><span style=\"text-decoration: underline;\">2. THE VIEW FROM MY TRADING DESK:</span></b>\r\n<p align=\"center\"><b>IS DRAGHI AND THE ECB COUNCIL A LAUGHING STOCK, OR ARE THEY JUST VERY CLEVER FECK**S?</b></p>\r\nThose of you who have been following me for sometime will know that one of my favourite subjects to write about is the ECB. I have joint citizenship UK / Canadian citizenship and lived for 6 years in both Ireland and Spain. I have history in that part of the world, I find the politics fascinating but at the same time childish, amateurish, inept and 100% reactive. Yes…you guessed it I have very strong opinions of Eurozone politics!\r\n\r\nLast Thursday the latest installment of the Draghi rock show took place. As usual he glided into the room as if 100% coated in Teflon, looking shifty like a corner street drug seller. He sits down in his chair and the pre-release document provided to him by Angela Merkel and the Bundesbank is read out and hard copies released to the press. Draghi’s testicles are connected to the AC in readiness for the Q &amp; A section while state of the art hidden strings and a virtual hand device are attached to his back. Finally, he placed a number of empty “Pepsi” cans on the table and placed an Adidas running shoe on this right foot.\r\n\r\nThe scene is now set.\r\n\r\nInterest rates were left unchanged 45 minutes prior to the press conference and the much talked about negative deposit rates were not adopted. In my mind I thought this would be a non-event. He will divulge what in his mind (rather Angela Merkel’s) is a huge amount of information, without actually telling us anything. This is basically what happened.\r\n\r\nDraghi is convinced that the markets will always buy verbal intervention without any evidence of follow through. This is a rather mis-guided belief in my opinion, Draghi did all he could to talk down the Euro at the press conference. At one point he actually said that the recent CPi numbers showing a Eurozone inflation rate of 0.5% was a surprise to him and that Easter coming late this year could be affecting the data. Holy Mother of God…an ECB President blaming Easter for his non-intervention… I have heard it all now.\r\n\r\nDraghi continually said that the ECB council talked about easing, and talked about QE, in fact he thought long and hard about the implications of QE, surely to God he did all his thinking and researching on QE long, long ago not just in the previous 5 minutes…pathetic.\r\n\r\nHe had options to encourage growth in the Eurozone: -\r\n<ol>\r\n	<li>An interest rate cut from the existing 0.25%.</li>\r\n	<li>A further LTRO (Long Term Refinancing Option).</li>\r\n	<li>Full on Quantitative Easing.</li>\r\n	<li>Negative deposit rates for Eurozone banks depositing money in the ECB.</li>\r\n</ol>\r\nApparently all four of the options above were discussed but none of the board members felt any of them warranted a meeting with Angela to see if they could get permission to introduce one of these options to help Eurozone members and stimulate growth.\r\n\r\nDraghi was told to remain dovish and this is what he did. He talked about stimulus…but talk is cheap. The Eurozone has DEFLATION and every politician and central banker is in denial even after numbers are released. It is quite a pathetic catalogue of quotes and excuses for no action.\r\n\r\nSo are Draghi and his cronies idiots and a laughing stock on the worlds stage or are they very clever feck**s?\r\n\r\nTalk is cheap…he said nothing and did nothing and the EUR/USD dropped…result.\r\n\r\nDraghi said he and he buddies at the ECB talked over all the options and that easing with conventional and unconventional measures are not ruled out. QE, Interest Rate Cuts and Negative Deposit Rates all discussed. He talked about the EUR exchange rate being increasingly important but it was yet to be a policy in its own right. He also said that the Eurozone economic outlook is still looking to the downside and that Protracted Stagnation is still a huge fear. All of these items are negative for the single currency moving forward.\r\n\r\nOn the single currency positive side he stated that the ECB council did not agree that March’s data should be used in isolation to affect their outlook. CPi was not as weak as PPi. (My daddy’s got a bigger one that your daddy!!). Deflation risks had NOT increased (lie) he stated that he expected April to pick up (Crystal ball time). The ECB were very, very happy with forward guidance (I am happy for them).\r\n\r\nThose last two paragraphs basically summarized what happened.\r\n\r\nThe problem that I have is that Eurozone deflationary data has been published month after month and the ECB is in denial. They offer nothing other than verbal intervention and do nothing. They really do adopt the “Kicking of the can down the road” approach to all matters. The 2014 Pontius Pilate approach to managing the Eurozone is far from impressive and lacks decisiveness and leadership.\r\n\r\nQuite frankly, although the German control of the Eurozone may add stability to the financial markets, it actually holds back the periphery. Record unemployment and stagnation is not an equitable trade off in my opinion.\r\n\r\nPersonally, I think the whole puppet approach to the ECB from Frankfurt and Berlin makes the ECB a laughing stock but they are clever feck**s the way they do nothing but are able to manipulate the markets. How long this manipulation can continue for is debatable, but as long as the markets are mis-informed yet still able to drive themselves forward on “GREED” based initiatives nothing will change. Central Bankers around the world do not want to make hard / tough decisions and bring “FEAR” into the marketplace so I think the people of the Eurozone in particular have to put up with Austerity, no jobs, poor social support and lack of spending on health, education and infrastructure. It\'s a very sad world.\r\n\r\n<b style=\"line-height: 1.5em;\"><span style=\"text-decoration: underline;\">\r\n</span></b>\r\n\r\n<b><span style=\"text-decoration: underline;\">3. THE PREMIUM SERVICE - TRADING SUMMARY:</span></b>\r\n\r\nAs we have now completed the first quarter of 2014, I thought that it would be a good idea to show the year to date performance so far on the success of the PREMIUM SERVICE.\r\n\r\nFull details of what the PREMIUM SERVICE is all about and the benefits that it can bring to your trading can be found at <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a> by selecting PREMIUM SERVICE, SIGN UP or SPECIAL OFFERS from the drop down menu at the top of the welcome page.\r\n\r\nThere are now many sign up options to suit all budgets to enable you to try and see if the PREMIUM SERVICE adds value to your trading. If you have questions you can email me <a href=\"mailto:premiumservice@weeklyfxdrivethru.com\">premiumservice@weeklyfxdrivethru.com</a>\r\n<p align=\"center\"><b><span style=\"text-decoration: underline;\">2014 SUMMARY TO DATE:</span></b></p>\r\n<p align=\"center\"><b><span style=\"text-decoration: underline;\">RADAR, FLASH and FUNDAMENTAL TRADES\r\n</span></b><b><span style=\"text-decoration: underline;\">APRIL 2014 and YEAR to date:</span></b></p>\r\n<p style=\"text-align: center;\">Below I show the up to date performances for my various trading styles. Full excel spreadsheets are in the subscriber area of the PREMIUM SERVICE.</p>\r\n<p align=\"center\"><b><span style=\"text-decoration: underline;\">RADAR TRADES – APRIL 2014…TO DATE:\r\n</span></b><b><span style=\"text-decoration: underline;\">PROFITS FROM SINGLE LOT COMPLETED RADAR TRADES:</span></b></p>\r\n<p align=\"center\">1 x MICRO-LOT:\r\n2 trades at $0.10 cents each = $0.20 risk for $3.00 profit.</p>\r\n<p align=\"center\"><span style=\"line-height: 1.5em;\">1 x MINI-LOT:\r\n</span><span style=\"line-height: 1.5em;\">2 trades at $1.00 each = $2.00 risk for $30.00 profit.</span></p>\r\n<p align=\"center\">1 x STANDARD LOT:\r\n2 trades at $10.00 each = $20.00 risk for $300.00 profit.</p>\r\n<p align=\"center\"><b><span style=\"text-decoration: underline;\">FLASH TRADES – APRIL 2014…TO DATE:\r\n</span></b><b><span style=\"text-decoration: underline;\">PROFITS FROM SINGLE LOT COMPLETED FLASH TRADES:</span></b></p>\r\n<p align=\"center\">1 x MICRO-LOT:\r\n6 trades at $0.10 cents each = $0.60 cents risk for $26.10 profit.</p>\r\n<p align=\"center\">1 x MINI-LOT:\r\n6 trades at $1.00 each = $6.00 risk for $261.00 profit.</p>\r\n<p align=\"center\">1 x STANDARD LOT:\r\n6 trades at $10.00 each = $60.00 risk for $2,610.00 profit.<b style=\"line-height: 1.5em;\"><span style=\"text-decoration: underline;\"> </span></b></p>\r\n<p align=\"center\"><b><span style=\"text-decoration: underline;\">FUNDAMENTAL TRADES – APRIL 2014…TO DATE:\r\n</span></b><b><span style=\"text-decoration: underline;\">PROFITS FROM SINGLE LOT COMPLETED FUNDAMENTAL TRADES:</span></b></p>\r\n<p align=\"center\">1 x MICRO-LOT:\r\n2 trades at $0.10 cents each = $0.20 cents risk for $3.40 profit.</p>\r\n<p align=\"center\">1 x MINI-LOT:\r\n2 trades at $1.00 each = $2.00 risk for $34.00 profit.</p>\r\n<p align=\"center\">1 x STANDARD LOT:\r\n2 trades at $10.00 each = $20.00 risk for $340.00 profit.</p>\r\n<p align=\"center\"><b><span style=\"text-decoration: underline;\">COMBINED FLASH, RADAR AND FUNDAMENTAL TRADES PROFIT PERFORMANCE\r\n</span></b><b><span style=\"text-decoration: underline;\">APRIL 2014…TO DATE:</span></b></p>\r\n<p align=\"center\">TRADING MICRO-LOTS:\r\n10 trades at $0.10 cents each = $1.00 risk for $32.50 profit.</p>\r\n<p align=\"center\">TRADING MINI-LOTS:\r\n10 trades at $1.00 each = $10.00 risk for $325.00 profit.</p>\r\n<p align=\"center\">TRADING STANDARD LOTS:\r\n10 trades at $10.00 each = $100.00 risk for $3,250.00 profit.</p>\r\n<p align=\"center\"><b><span style=\"text-decoration: underline;\">COMBINED FLASH, RADAR AND FUNDAMENTAL TRADES PROFIT PERFORMANCE\r\n</span></b><b><span style=\"text-decoration: underline;\">TOTAL 2014…SO FAR:</span></b></p>\r\n<p align=\"center\">TRADING MICRO-LOTS:\r\n150 trades at $0.10 cents each = $15.00 risk for $236.00 profit.</p>\r\n<p align=\"center\">TRADING MINI-LOTS:\r\n150 trades at $1.00 each = $150.00 risk for $2,360.00 profit.</p>\r\n<p align=\"center\">TRADING STANDARD LOTS:\r\n150 trades at $10.00 each = $1,500.00 risk for $23,600.00 profit.</p>\r\n&nbsp;\r\n\r\nThe above examples are for illustration purposes only:\r\n\r\nThe profitability examples detailed above are based solely upon single lot trading, regardless of lot type. If multiple lot sizes are traded the profitability margins will be different than those shown.\r\n\r\nJust to provide more information so you understand where I am coming from with the risk / reward statements above. All of my trades are of different sizes and different size lot types. The above does not reflect the actual trading performance. I like to add to trades, profits are taken as the trade progresses and my overall cost average moves several times. All of my trades are of different lot styles. I trade a mixture of micro lots, mini lots and standard lots across my brokers.\r\n\r\nThe above results simply display your profit or loss if you placed a single lot trade on all the set-ups suggested and did nothing else.\r\n\r\n&nbsp;\r\n\r\n<b><span style=\"text-decoration: underline;\">4. LOOKING FORWARD…THE KEY SUPPORT &amp; RESISTANCE LEVELS WITH THE USD MAJORS:</span></b>\r\n\r\n<b>EUR/USD: Closing Price 1.3701.</b>  We close at the breakdown level. The next few trading sessions next week will determine the general direction of the upcoming forex moves in the market overall. As the most liquid currency pair the EUR/USD directs, pulls and influences currencies with it, whichever way it trades.  I see the trading range as 1.3640 to 1.3850. A break from this range should, I hope, set up the market nicely for some nice moves.\r\n\r\n<b>GBP/USD: Closing Price 1.6559.  </b>We close the week below 1.6600. I had thought earlier in the week that should I witness this event I would be over this pair like a rash to the short side. I haven’t even thought about trading it.  I have real fears about trading cable as it has a nasty habit of getting you as a trader set up for a move and then it just turns about face and heads off in the opposite direction. Technically it looks like 1.6250 is next major support and then it does not get bullish again unless we break above 1.6750.\r\n\r\n<b>AUD/USD: Closing Price 0.9288</b>.  There was a nice bullish run after NFP to take this pair back towards resistance at 0.9300. I am looking to short this pair again soon…I was going to enter short the same time that I shorted the NZD/USD after NFP but I wanted to wait for stops to be taken above 0.9300. That of course did not happen and now I face the timing issue of entering short.Ideally, I wanted to get short around 0.9320.  The trading range that I will be monitoring over the coming sessions is 0.9200 to 0.9320.\r\n\r\n<b>NZD/USD: Closing Price 0.8572</b>.  Just like the AUD/USD, this pair had a lovely little bull run to enable all those traders like myself to enter short around 0.8600. At this level you know what your ultimate risk is, which is of course multi year highs at 0.8693. Support that I really want to see taken out lies at 0.8450.<b> </b>\r\n\r\n<b>USD/CAD: Closing Price 1.0980.</b>  I am getting very frustrated by my home- based currency. It really does live up to its name the “Loonie”. I am still bullish as long as we are above 1.0880, which is a multi year support trend line. I really want a loonie move to take out resistance above 1.1230 to really set this pair up for a run at 1.1600, which is where I think the technical stake us. I fear that we will hover around 1.0950 to 1.1050 for a while. There is no major CAD news this week so hopefully it will consolidate and get ready to bounce upwards.\r\n\r\n<b>USD/CHF: Closing Price 0.8911</b>.  I am long this pair and looking to add other CHF crosses. I have as per the section TRADES ON MY RADAR two further limit orders waiting to be triggered. We closed above 0.8900, which was crucial. Now I believe that a move to 0.9300 is possibly worth talking about in the medium term. We shall see if that trade will happen early next week depending upon the first few trading sessions, nevertheless I remain bullish this pair as it is in breakout territory. The trading range that I am looking at is support at 0.8850 and resistance at 0.9000.<b> </b>\r\n\r\n<b>USD/JPY: Closing Price 103.23.  </b>This pair closes the week up over last weeks close but down significantly on where it started just prior to NFP. The next few sessions will be crucial for the USD/JPY and all the JPY crosses. If equities start to sell off, Abe’s vision of a weakening JPY currency may be placed on hold for a wee while. The range going forward that interests me is support at 102.60 and resistance back at 104.45.\r\n\r\n<span style=\"text-decoration: underline;\"> </span>\r\n\r\n<b><span style=\"text-decoration: underline;\">5. MAJOR FOREX NEWS THIS WEEK THAT INTERESTS ME:</span></b>\r\n\r\nSUNDAY: N/A.\r\n\r\nMONDAY: N/A.\r\n\r\nTUESDAY: N/A.\r\n\r\nWEDNESDAY: USD – FOMC Meeting Minutes.\r\nWEDNESDAY: AUD – Employment Data.\r\n\r\nTHURSDAY: N/A.\r\n\r\nFRIDAY: N/A.<b></b>\r\n\r\n&nbsp;\r\n\r\n<b><span style=\"text-decoration: underline;\">6. FINAL THOUGHTS:</span></b>\r\n\r\nNot a huge amount of news items catch my eye this week. There is not much to talk about in my view; I think equities will direct the forex market over the next few sessions. Only the FOMC and Australian Employment Data really interest me.\r\n\r\nAs you know, I am always looking for the signs that show that equities are starting to reverse and with the NASDAQ sell off on Friday last week, this could be where it starts. The EUR/USD is on the cusp of a breakdown and this will also pull the forex market.\r\n\r\nIn addition, I still think that there is a degree of uncertainty in the equity market regarding the grind higher and any excuse will be used to both start and justify the pullback / correction.\r\n\r\nTherefore, this is not a time to be a hero. Do not try to pick tops or bottoms just go with the flow and trade if you see an opportunity. Do not force trades let them come to you?\r\n\r\nTake care and good luck. Be careful with position sizes.\r\n\r\nScott Pickering\r\nThe Pip Accumulator\r\nSaturday April 5th 2014\r\n\r\nEMAIL / FOLLOW ME AT:\r\ndrivethru@weeklyfxdrivethru.com\r\nTwitter: @pipaccumulator\r\n<span style=\"line-height: 1.5em;\">Google+/scottpickering</span>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n&nbsp;','IS DRAGHI AND THE ECB COUNCIL A LAUGHING STOCK, OR ARE THEY JUST VERY CLEVER FECK**S?','','inherit','open','closed','','3424-revision-v1','','','2014-04-05 12:33:28','2014-04-05 17:33:28','',3424,'https://weeklyfxdrivethru.com/3424-revision-v1/',0,'revision','',0),(3425,1,'2014-04-05 12:31:45','2014-04-05 17:31:45','<b style=\"line-height: 1.5em;\"><span style=\"text-decoration: underline;\">1. INTRODUCTION:</span></b>\r\n\r\nThe chop fest continued during the past week.\r\n\r\nThe PREMIUM SERVICE continues to make money albeit at a slightly reduced level due to the tougher market conditions but it’s a profit and I am very happy. Subscriber levels increase each week and the new DAILY FX POST with a brief overview of my initial thoughts plus any trading ideas is now a week old. The number of tweets to the exclusive subscriber Twitter Account is now past 1,000 since the PREMIUM SERVICE was launched. So all is good…I just want the market to show a consistent direction.\r\n\r\nThe two big news events over the last 7 days have passed.\r\n\r\nThe ECB press conference on Thursday last was a joke as far as I am concerned and I have thought long and hard about what Draghi actually said and didn’t say. I have decided to make this the subject of the comment piece this week.\r\n\r\nU.S. Non-Farm payrolls came and went with the usual flurry of guests on CNBC guessing beforehand then with egg on their faces after the event denying what they had previously said. Great TV….is this station part of my Disney package? It must be it’s not a serious business channel.\r\n\r\nPrior to NFP I was in one trade the USD/CAD. I added trades in USD/CHF, USD/SEK, NZD/USD and placed limit orders on AUD/CHF and CAD/CHF. This was an active NFP day for me. Usually I watch and giggle as the forex market takes out traders at both extremes. My lead indicator USD/SEK was the hook to pull me in. It never really jolted about and that was the determining factor as far as I was concerned.\r\n\r\nIn addition, I must comment on the fact that U.S. equities sold off very hard after NFP. Why?\r\n\r\nMy belief is that we are starting to see the sell-off that I have been talking about for a while based upon the fact that inter-market correlations are not functioning as usual and that there are huge market dis-connects in play.  Time will tell if I am right but there appeared to be a huge move out of momentum stocks and many technology stocks after bio-techs had been hit earlier in the week.\r\n\r\n<b><span style=\"text-decoration: underline;\"> </span></b>\r\n\r\n<b><span style=\"text-decoration: underline;\">2. THE VIEW FROM MY TRADING DESK:</span></b>\r\n<p align=\"center\"><b>IS DRAGHI AND THE ECB COUNCIL A LAUGHING STOCK, OR ARE THEY JUST VERY CLEVER FECK**S?</b></p>\r\nThose of you who have been following me for sometime will know that one of my favourite subjects to write about is the ECB. I have joint citizenship UK / Canadian citizenship and lived for 6 years in both Ireland and Spain. I have history in that part of the world, I find the politics fascinating but at the same time childish, amateurish, inept and 100% reactive. Yes…you guessed it I have very strong opinions of Eurozone politics!\r\n\r\nLast Thursday the latest installment of the Draghi rock show took place. As usual he glided into the room as if 100% coated in Teflon, looking shifty like a corner street drug seller. He sits down in his chair and the pre-release document provided to him by Angela Merkel and the Bundesbank is read out and hard copies released to the press. Draghi’s testicles are connected to the AC in readiness for the Q &amp; A section while state of the art hidden strings and a virtual hand device are attached to his back. Finally, he placed a number of empty “Pepsi” cans on the table and placed an addidas running shoe on this right foot.\r\n\r\nThe scene is now set.\r\n\r\nInterest rates were left unchanged 45 minutes prior to the press conference and the much talked about negative deposit rates were not adopted. In my mind I thought this would be a non-event. He will divulge what in his mind (rather Angela Merkel’s) is a huge amount of information, without actually telling us anything. This is basically what happened.\r\n\r\nDraghi is convinced that the markets will always buy verbal intervention without any evidence of follow through. This is a rather mis-guided belief in my opinion, Draghi did all he could to talk down the Euro at the press conference. At one point he actually said that the recent CPi numbers showing a Eurozone inflation rate of 0.5% was a surprise to him and that Easter coming late this year could be affecting the data. Holy Mother of God…an ECB President blaming Easter for his non-intervention… I have heard it all now.\r\n\r\nDraghi continually said that the ECB council talked about easing, and talked about QE, in fact he thought long and hard about the implications of QE, surely to God he did all his thinking and researching on QE long, long ago not just in the prevoius 5 minutes…pathetic.\r\n\r\nHe had options to encourage growth in the Eurozone: -\r\n<ol>\r\n	<li>An interest rate cut from the existing 0.25%.</li>\r\n	<li>A further LTRO (Long Term Refinancing Option).</li>\r\n	<li>Full on Quantatative Easing.</li>\r\n	<li>Negative deposit rates for Eurozone banks depositing money in the ECB.</li>\r\n</ol>\r\nApparently all four of the options above were discussed but none of the board members felt any of them warranted a meeting with Angela to see if they could get permission to introduce one of these options to help Eurozone members and stimulate growth.\r\n\r\nDraghi was told to remain dovish and this is what he did. He talked about stimulus…but talk is cheap. The Eurozone has DEFLATION and every politician and central banker is in denial even after numbers are released. It is quite a pathetic catalogue of quotes and excuses for no action.\r\n\r\nSo are Draghi and his cronies idiots and a laughing stock on the worlds stage or are they very clever feck**s?\r\n\r\nTalk is cheap…he said feck all and did feck all and the EUR/USD dropped…result.\r\n\r\nDraghi said he and he buddies at the ECB talked over all the options and that easing with conventional and unconvential measures are not ruled out. QE, Interest Rate Cuts and Negative Deposit Rates all discussed. He talked about the EUR exchange rate being increasingly important but it was yet to be a policy in its own right. He also said that the Eurozone economic outlook is still looking to the downside and that Protracted Stagnation is still a huge fear. All of these items are negative for the single currency moving forward.\r\n\r\nOn the single currency positive side he stated that the ECB council did not agree that March’s data should be used in isolation to affect their outlook. CPi was not as weak as PPi. (My daddy’s got a bigger one that your daddy!!). Deflation risks had NOT increased (lie) he stated that he expected April to pick up (Crystal ball time). The ECB were very, very happy with forward guidance (I am happy for them).\r\n\r\nThose last two paragraphs basically summarized what happened.\r\n\r\nThe problem that I have is that Eurozone deflationary data has been published month after month and the ECB is in denial. They offer nothing other than verbal intervention and do nothing. They really do adopt the “Kicking of the can down the road” approach to all matters. The 2014 Pontius Pilate approach to managing the Eurozone is far from impressive and lacks decisiveness and leadership.\r\n\r\nQuite frankly, although the German control of the Eurozone may add stability to the financial markets, it actually holds back the periphery. Record unemployment and stagnation is not an equitable trade off in my opinion.\r\n\r\nPersonally, I think the whole puppet approach to the ECB from Frankfurt and Berlin makes the ECB a laughing stock but they are clever feck**s the way they do nothing but are able to manipulate the markets. How long this manipulation can continue for is debatable, but as long as the markets are mis-informed yet still able to drive themselves forward on “GREED” based initiatives nothing will change. Central Bankers around the world do not want to make hard / tough decisions and bring “FEAR” into the marketplace so I think the people of the Eurozone in particular have to put up with Austerity, no jobs, poor social support and lack of spending on health, education and infrastructure. It\'s a very sad world.\r\n\r\n<b style=\"line-height: 1.5em;\"><span style=\"text-decoration: underline;\">\r\n</span></b>\r\n\r\n<b><span style=\"text-decoration: underline;\">3. THE PREMIUM SERVICE - TRADING SUMMARY:</span></b>\r\n\r\nAs we have now completed the first quarter of 2014, I thought that it would be a good idea to show the year to date performance so far on the success of the PREMIUM SERVICE.\r\n\r\nFull details of what the PREMIUM SERVICE is all about and the benefits that it can bring to your trading can be found at <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a> by selecting PREMIUM SERVICE, SIGN UP or SPECIAL OFFERS from the drop down menu at the top of the welcome page.\r\n\r\nThere are now many sign up options to suit all budgets to enable you to try and see if the PREMIUM SERVICE adds value to your trading. If you have questions you can email me <a href=\"mailto:premiumservice@weeklyfxdrivethru.com\">premiumservice@weeklyfxdrivethru.com</a>\r\n<p align=\"center\"><b><span style=\"text-decoration: underline;\">2014 SUMMARY TO DATE:</span></b></p>\r\n<p align=\"center\"><b><span style=\"text-decoration: underline;\">RADAR, FLASH and FUNDAMENTAL TRADES\r\n</span></b><b><span style=\"text-decoration: underline;\">APRIL 2014 and YEAR to date:</span></b></p>\r\n\r\nBelow I show the up to date performances for my various trading styles. Full excel spreadsheets are in the subscriber area of the PREMIUM SERVICE.\r\n\r\n<b></b><b><span style=\"text-decoration: underline;\"> </span></b>\r\n<p align=\"center\"><b><span style=\"text-decoration: underline;\">RADAR TRADES – APRIL 2014…TO DATE:\r\n</span></b><b><span style=\"text-decoration: underline;\">PROFITS FROM SINGLE LOT COMPLETED RADAR TRADES:</span></b></p>\r\n<p align=\"center\">1 x MICRO-LOT:\r\n2 trades at $0.10 cents each = $0.20 risk for $3.00 profit.</p>\r\n<p align=\"center\"><span style=\"line-height: 1.5em;\">1 x MINI-LOT:\r\n</span><span style=\"line-height: 1.5em;\">2 trades at $1.00 each = $2.00 risk for $30.00 profit.</span></p>\r\n<p align=\"center\">1 x STANDARD LOT:\r\n2 trades at $10.00 each = $20.00 risk for $300.00 profit.</p>\r\n<p align=\"center\"><b><span style=\"text-decoration: underline;\">FLASH TRADES – APRIL 2014…TO DATE:\r\n</span></b><b><span style=\"text-decoration: underline;\">PROFITS FROM SINGLE LOT COMPLETED FLASH TRADES:</span></b></p>\r\n<p align=\"center\">1 x MICRO-LOT:\r\n6 trades at $0.10 cents each = $0.60 cents risk for $26.10 profit.</p>\r\n<p align=\"center\">1 x MINI-LOT:\r\n6 trades at $1.00 each = $6.00 risk for $261.00 profit.</p>\r\n<p align=\"center\">1 x STANDARD LOT:\r\n6 trades at $10.00 each = $60.00 risk for $2,610.00 profit.<b style=\"line-height: 1.5em;\"><span style=\"text-decoration: underline;\"> </span></b></p>\r\n<p align=\"center\"><b><span style=\"text-decoration: underline;\">FUNDAMENTAL TRADES – APRIL 2014…TO DATE:\r\n</span></b><b><span style=\"text-decoration: underline;\">PROFITS FROM SINGLE LOT COMPLETED FUNDAMENTAL TRADES:</span></b></p>\r\n<p align=\"center\">1 x MICRO-LOT:\r\n2 trades at $0.10 cents each = $0.20 cents risk for $3.40 profit.</p>\r\n<p align=\"center\">1 x MINI-LOT:\r\n2 trades at $1.00 each = $2.00 risk for $34.00 profit.</p>\r\n<p align=\"center\">1 x STANDARD LOT:\r\n2 trades at $10.00 each = $20.00 risk for $340.00 profit.</p>\r\n<p align=\"center\"><b><span style=\"text-decoration: underline;\">COMBINED FLASH, RADAR AND FUNDAMENTAL TRADES PROFIT PERFORMANCE\r\n</span></b><b><span style=\"text-decoration: underline;\">APRIL 2014…TO DATE:</span></b></p>\r\n<p align=\"center\">TRADING MICRO-LOTS:\r\n10 trades at $0.10 cents each = $1.00 risk for $32.50 profit.</p>\r\n<p align=\"center\">TRADING MINI-LOTS:\r\n10 trades at $1.00 each = $10.00 risk for $325.00 profit.</p>\r\n<p align=\"center\">TRADING STANDARD LOTS:\r\n10 trades at $10.00 each = $100.00 risk for $3,250.00 profit.</p>\r\n<p align=\"center\"><b><span style=\"text-decoration: underline;\">COMBINED FLASH, RADAR AND FUNDAMENTAL TRADES PROFIT PERFORMANCE\r\n</span></b><b><span style=\"text-decoration: underline;\">TOTAL 2014…SO FAR:</span></b></p>\r\n<p align=\"center\">TRADING MICRO-LOTS:\r\n150 trades at $0.10 cents each = $15.00 risk for $236.00 profit.</p>\r\n<p align=\"center\">TRADING MINI-LOTS:\r\n150 trades at $1.00 each = $150.00 risk for $2,360.00 profit.</p>\r\n<p align=\"center\">TRADING STANDARD LOTS:\r\n150 trades at $10.00 each = $1,500.00 risk for $23,600.00 profit.</p>\r\n&nbsp;\r\n\r\nThe above examples are for illustration purposes only:\r\n\r\nThe profitability examples detailed above are based solely upon single lot trading, regardless of lot type. If multiple lot sizes are traded the profitability margins will be different than those shown.\r\n\r\nJust to provide more information so you understand where I am coming from with the risk / reward statements above. All of my trades are of different sizes and different size lot types. The above does not reflect the actual trading performance. I like to add to trades, profits are taken as the trade progresses and my overall cost average moves several times. All of my trades are of different lot styles. I trade a mixture of micro lots, mini lots and standard lots across my brokers.\r\n\r\nThe above results simply display your profit or loss if you placed a single lot trade on all the set-ups suggested and did nothing else.\r\n\r\n<b><span style=\"text-decoration: underline;\"> </span></b>\r\n\r\n<b><span style=\"text-decoration: underline;\">4. LOOKING FORWARD…THE KEY SUPPORT &amp; RESISTANCE LEVELS WITH THE USD MAJORS:</span></b>\r\n\r\n<b>EUR/USD: Closing Price 1.3701.</b>  We close at the breakdown level. The next few trading sessions next week will determine the general direction of the upcoming forex moves in the market overall. As the most liquid currency pair the EUR/USD directs, pulls and influences currencies with it, whichever way it trades.  I see the trading range as 1.3640 to 1.3850. A break from this range should, I hope, set up the market nicely for some nice moves.\r\n\r\n<b>GBP/USD: Closing Price 1.6559.  </b>We close the week below 1.6600. I had thought earlier in the week that should I witness this event I would be over this pair like a rash to the short side. I haven’t even thought about trading it.  I have real fears about trading cable as it has a nasty habit of getting you as a trader set up for a move and then it just turns about face and heads off in the opposite direction. Technically it looks like 1.6250 is next major support and then it does not get bullish again unless we break above 1.6750.\r\n\r\n<b>AUD/USD: Closing Price 0.9288</b>.  There was a nice bullish run after NFP to take this pair back towards resistance at 0.9300. I am looking to short this pair again soon…I was going to enter short the same time that I shorted the NZD/USD after NFP but I wanted to wait for stops to be taken above 0.9300. That of course did not happen and now I face the timing issue of entering short.Ideally, I wanted to get short around 0.9320.  The trading range that I will be monitoring over the coming sessions is 0.9200 to 0.9320.\r\n\r\n<b>NZD/USD: Closing Price 0.8572</b>.  Just like the AUD/USD, this pair had a lovely little bull run to enable all those traders like myself to enter short around 0.8600. At this level you know what your ultimate risk is, which is of course multi year highs at 0.8693. Support that I really want to see taken out lies at 0.8450.<b> </b>\r\n\r\n<b>USD/CAD: Closing Price 1.0980.</b>  I am getting very frustrated by my home- based currency. It really does live up to its name the “Loonie”. I am still bullish as long as we are above 1.0880, which is a multi year support trend line. I really want a loonie move to take out resistance above 1.1230 to really set this pair up for a run at 1.1600, which is where I think the technical stake us. I fear that we will hover around 1.0950 to 1.1050 for a while. There is no major CAD news this week so hopefully it will consolidate and get ready to bounce upwards.\r\n\r\n<b>USD/CHF: Closing Price 0.8911</b>.  I am long this pair and looking to add other CHF crosses. I have as per the section TRADES ON MY RADAR two further limit orders waiting to be triggered. We closed above 0.8900, which was crucial. Now I believe that a move to 0.9300 is possibly worth talking about in the medium term. We shall see if that trade will happen early next week depending upon the first few trading sessions, nevertheless I remain bullish this pair as it is in breakout territory. The trading range that I am looking at is support at 0.8850 and resistance at 0.9000.<b> </b>\r\n\r\n<b>USD/JPY: Closing Price 103.23.  </b>This pair closes the week up over last weeks close but down significantly on where it started just prior to NFP. The next few sessions will be crucial for the USD/JPY and all the JPY crosses. If equities start to sell off, Abe’s vision of a weakening JPY currency may be placed on hold for a wee while. The range going forward that interests me is support at 102.60 and resistance back at 104.45.\r\n\r\n<span style=\"text-decoration: underline;\"> </span>\r\n\r\n<b><span style=\"text-decoration: underline;\">5. MAJOR FOREX NEWS THIS WEEK THAT INTERESTS ME:</span></b>\r\n\r\nSUNDAY: N/A.\r\n\r\nMONDAY: N/A.\r\n\r\nTUESDAY: N/A.\r\n\r\nWEDNESDAY: USD – FOMC Meeting Minutes.\r\nWEDNESDAY: AUD – Employment Data.\r\n\r\nTHURSDAY: N/A.\r\n\r\nFRIDAY: N/A.<b></b>\r\n\r\n&nbsp;\r\n\r\n<b><span style=\"text-decoration: underline;\">6. FINAL THOUGHTS:</span></b>\r\n\r\nNot a huge amount of news items catch my eye this week. There is not much to talk about in my view; I think equities will direct the forex market over the next few sessions. Only the FOMC and Australian Employment Data really interest me.\r\n\r\nAs you know, I am always looking for the signs that show that equities are starting to reverse and with the NASDAQ sell off on Friday last week, this could be where it starts. The EUR/USD is on the cusp of a breakdown and this will also pull the forex market.\r\n\r\nIn addition, I still think that there is a degree of uncertainty in the equity market regarding the grind higher and any excuse will be used to both start and justify the pullback / correction.\r\n\r\nTherefore, this is not a time to be a hero. Do not try to pick tops or bottoms just go with the flow and trade if you see an opportunity. Do not force trades let them come to you?\r\n\r\nTake care and good luck. Be careful with position sizes.\r\n\r\nScott Pickering\r\nThe Pip Accumulator\r\nSaturday April 5th 2014\r\n\r\nEMAIL / FOLLOW ME AT:\r\ndrivethru@weeklyfxdrivethru.com\r\nTwitter: @pipaccumulator\r\n<span style=\"line-height: 1.5em;\">Google+/scottpickering</span>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n&nbsp;','IS DRAGHI AND THE ECB COUNCIL A LAUGHING STOCK, OR ARE THEY JUST VERY CLEVER FECK**S?','','inherit','open','closed','','3424-revision-v1','','','2014-04-05 12:31:45','2014-04-05 17:31:45','',3424,'https://weeklyfxdrivethru.com/3424-revision-v1/',0,'revision','',0),(3432,1,'2014-04-05 12:47:41','2014-04-05 17:47:41','','MAXIMISING PROFIT POTENTIAL BY PROPERLY SIZING POSITIONS','','inherit','open','closed','','maximising-profit-potential-by-properly-sizing-positions','','','2014-04-05 12:47:41','2014-04-05 17:47:41','',3424,'https://weeklyfxdrivethru.com/wp-content/uploads/2014/04/MAXIMISING-PROFIT-POTENTIAL-BY-PROPERLY-SIZING-POSITIONS.pdf',0,'attachment','application/pdf',0),(3433,1,'2014-04-05 12:47:47','2014-04-05 17:47:47','<b style=\"line-height: 1.5em;\"><span style=\"text-decoration: underline;\">1. INTRODUCTION:</span></b>\n\nThe chop fest continued during the past week.\n\nThe PREMIUM SERVICE continues to make money albeit at a slightly reduced level due to the tougher market conditions but it’s a profit and I am very happy. Subscriber levels increase each week and the new DAILY FX POST with a brief overview of my initial thoughts plus any trading ideas is now a week old. The number of tweets to the exclusive subscriber Twitter Account is now past 1,000 since the PREMIUM SERVICE was launched. So all is good…I just want the market to show a consistent direction.\n\nThe two big news events over the last 7 days have passed.\n\nThe ECB press conference on Thursday last was a joke as far as I am concerned and I have thought long and hard about what Draghi actually said and didn’t say. I have decided to make this the subject of the comment piece this week.\n\nU.S. Non-Farm payrolls came and went with the usual flurry of guests on CNBC guessing beforehand then with egg on their faces after the event denying what they had previously said. Great TV….is this station part of my Disney package? It must be it’s not a serious business channel.\n\nPrior to NFP I was in one trade the USD/CAD. I added trades in USD/CHF, USD/SEK, NZD/USD and placed limit orders on AUD/CHF and CAD/CHF. This was an active NFP day for me. Usually I watch and giggle as the forex market takes out traders at both extremes. My lead indicator USD/SEK was the hook to pull me in. It never really jolted about and that was the determining factor as far as I was concerned.\n\nIn addition, I must comment on the fact that U.S. equities sold off very hard after NFP. Why?\n\nMy belief is that we are starting to see the sell-off that I have been talking about for a while based upon the fact that inter-market correlations are not functioning as usual and that there are huge market dis-connects in play.  Time will tell if I am right but there appeared to be a huge move out of momentum stocks and many technology stocks after bio-techs had been hit earlier in the week.\n\n<b><span style=\"text-decoration: underline;\"> </span></b>\n\n<b><span style=\"text-decoration: underline;\">2. THE VIEW FROM MY TRADING DESK:</span></b>\n<p align=\"center\"><b>IS DRAGHI AND THE ECB COUNCIL A LAUGHING STOCK, OR ARE THEY JUST VERY CLEVER FECK**S?</b></p>\nThose of you who have been following me for sometime will know that one of my favourite subjects to write about is the ECB. I have joint citizenship UK / Canadian citizenship and lived for 6 years in both Ireland and Spain. I have history in that part of the world, I find the politics fascinating but at the same time childish, amateurish, inept and 100% reactive. Yes…you guessed it I have very strong opinions of Eurozone politics!\n\nLast Thursday the latest installment of the Draghi rock show took place. As usual he glided into the room as if 100% coated in Teflon, looking shifty like a corner street drug seller. He sits down in his chair and the pre-release document provided to him by Angela Merkel and the Bundesbank is read out and hard copies released to the press. Draghi’s testicles are connected to the AC in readiness for the Q &amp; A section while state of the art hidden strings and a virtual hand device are attached to his back. Finally, he placed a number of empty “Pepsi” cans on the table and placed an Adidas running shoe on this right foot.\n\nThe scene is now set.\n\nInterest rates were left unchanged 45 minutes prior to the press conference and the much talked about negative deposit rates were not adopted. In my mind I thought this would be a non-event. He will divulge what in his mind (rather Angela Merkel’s) is a huge amount of information, without actually telling us anything. This is basically what happened.\n\nDraghi is convinced that the markets will always buy verbal intervention without any evidence of follow through. This is a rather mis-guided belief in my opinion, Draghi did all he could to talk down the Euro at the press conference. At one point he actually said that the recent CPi numbers showing a Eurozone inflation rate of 0.5% was a surprise to him and that Easter coming late this year could be affecting the data. Holy Mother of God…an ECB President blaming Easter for his non-intervention… I have heard it all now.\n\nDraghi continually said that the ECB council talked about easing, and talked about QE, in fact he thought long and hard about the implications of QE, surely to God he did all his thinking and researching on QE long, long ago not just in the previous 5 minutes…pathetic.\n\nHe had options to encourage growth in the Eurozone: -\n<ol>\n	<li>An interest rate cut from the existing 0.25%.</li>\n	<li>A further LTRO (Long Term Refinancing Option).</li>\n	<li>Full on Quantitative Easing.</li>\n	<li>Negative deposit rates for Eurozone banks depositing money in the ECB.</li>\n</ol>\nApparently all four of the options above were discussed but none of the board members felt any of them warranted a meeting with Angela to see if they could get permission to introduce one of these options to help Eurozone members and stimulate growth.\n\nDraghi was told to remain dovish and this is what he did. He talked about stimulus…but talk is cheap. The Eurozone has DEFLATION and every politician and central banker is in denial even after numbers are released. It is quite a pathetic catalogue of quotes and excuses for no action.\n\nSo are Draghi and his cronies idiots and a laughing stock on the worlds stage or are they very clever feck**s?\n\nTalk is cheap…he said nothing and did nothing and the EUR/USD dropped…result.\n\nDraghi said he and he buddies at the ECB talked over all the options and that easing with conventional and unconventional measures are not ruled out. QE, Interest Rate Cuts and Negative Deposit Rates all discussed. He talked about the EUR exchange rate being increasingly important but it was yet to be a policy in its own right. He also said that the Eurozone economic outlook is still looking to the downside and that Protracted Stagnation is still a huge fear. All of these items are negative for the single currency moving forward.\n\nOn the single currency positive side he stated that the ECB council did not agree that March’s data should be used in isolation to affect their outlook. CPi was not as weak as PPi. (My daddy’s got a bigger one that your daddy!!). Deflation risks had NOT increased (lie) he stated that he expected April to pick up (Crystal ball time). The ECB were very, very happy with forward guidance (I am happy for them).\n\nThose last two paragraphs basically summarized what happened.\n\nThe problem that I have is that Eurozone deflationary data has been published month after month and the ECB is in denial. They offer nothing other than verbal intervention and do nothing. They really do adopt the “Kicking of the can down the road” approach to all matters. The 2014 Pontius Pilate approach to managing the Eurozone is far from impressive and lacks decisiveness and leadership.\n\nQuite frankly, although the German control of the Eurozone may add stability to the financial markets, it actually holds back the periphery. Record unemployment and stagnation is not an equitable trade off in my opinion.\n\nPersonally, I think the whole puppet approach to the ECB from Frankfurt and Berlin makes the ECB a laughing stock but they are clever feck**s the way they do nothing but are able to manipulate the markets. How long this manipulation can continue for is debatable, but as long as the markets are mis-informed yet still able to drive themselves forward on “GREED” based initiatives nothing will change. Central Bankers around the world do not want to make hard / tough decisions and bring “FEAR” into the marketplace so I think the people of the Eurozone in particular have to put up with Austerity, no jobs, poor social support and lack of spending on health, education and infrastructure. It\'s a very sad world.\n\n<b style=\"line-height: 1.5em;\"><span style=\"text-decoration: underline;\">\n</span></b>\n\n<b><span style=\"text-decoration: underline;\">3. THE PREMIUM SERVICE - TRADING SUMMARY:</span></b>\n\nAs we have now completed the first quarter of 2014, I thought that it would be a good idea to show the year to date performance so far on the success of the PREMIUM SERVICE.\n\nFull details of what the PREMIUM SERVICE is all about and the benefits that it can bring to your trading can be found at <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a> by selecting PREMIUM SERVICE, SIGN UP or SPECIAL OFFERS from the drop down menu at the top of the welcome page.\n\nThere are now many sign up options to suit all budgets to enable you to try and see if the PREMIUM SERVICE adds value to your trading. If you have questions you can email me <a href=\"mailto:premiumservice@weeklyfxdrivethru.com\">premiumservice@weeklyfxdrivethru.com</a>\n<p align=\"center\"><b><span style=\"text-decoration: underline;\">2014 SUMMARY TO DATE:</span></b></p>\n<p align=\"center\"><b><span style=\"text-decoration: underline;\">RADAR, FLASH and FUNDAMENTAL TRADES\n</span></b><b><span style=\"text-decoration: underline;\">APRIL 2014 and YEAR to date:</span></b></p>\n<p style=\"text-align: center;\">Below I show the up to date performances for my various trading styles. Full excel spreadsheets are in the subscriber area of the PREMIUM SERVICE.</p>\n<p align=\"center\"><b><span style=\"text-decoration: underline;\">RADAR TRADES – APRIL 2014…TO DATE:\n</span></b><b><span style=\"text-decoration: underline;\">PROFITS FROM SINGLE LOT COMPLETED RADAR TRADES:</span></b></p>\n<p align=\"center\">1 x MICRO-LOT:\n2 trades at $0.10 cents each = $0.20 risk for $3.00 profit.</p>\n<p align=\"center\"><span style=\"line-height: 1.5em;\">1 x MINI-LOT:\n</span><span style=\"line-height: 1.5em;\">2 trades at $1.00 each = $2.00 risk for $30.00 profit.</span></p>\n<p align=\"center\">1 x STANDARD LOT:\n2 trades at $10.00 each = $20.00 risk for $300.00 profit.</p>\n<p align=\"center\"><b><span style=\"text-decoration: underline;\">FLASH TRADES – APRIL 2014…TO DATE:\n</span></b><b><span style=\"text-decoration: underline;\">PROFITS FROM SINGLE LOT COMPLETED FLASH TRADES:</span></b></p>\n<p align=\"center\">1 x MICRO-LOT:\n6 trades at $0.10 cents each = $0.60 cents risk for $26.10 profit.</p>\n<p align=\"center\">1 x MINI-LOT:\n6 trades at $1.00 each = $6.00 risk for $261.00 profit.</p>\n<p align=\"center\">1 x STANDARD LOT:\n6 trades at $10.00 each = $60.00 risk for $2,610.00 profit.<b style=\"line-height: 1.5em;\"><span style=\"text-decoration: underline;\"> </span></b></p>\n<p align=\"center\"><b><span style=\"text-decoration: underline;\">FUNDAMENTAL TRADES – APRIL 2014…TO DATE:\n</span></b><b><span style=\"text-decoration: underline;\">PROFITS FROM SINGLE LOT COMPLETED FUNDAMENTAL TRADES:</span></b></p>\n<p align=\"center\">1 x MICRO-LOT:\n2 trades at $0.10 cents each = $0.20 cents risk for $3.40 profit.</p>\n<p align=\"center\">1 x MINI-LOT:\n2 trades at $1.00 each = $2.00 risk for $34.00 profit.</p>\n<p align=\"center\">1 x STANDARD LOT:\n2 trades at $10.00 each = $20.00 risk for $340.00 profit.</p>\n<p align=\"center\"><b><span style=\"text-decoration: underline;\">COMBINED FLASH, RADAR AND FUNDAMENTAL TRADES PROFIT PERFORMANCE\n</span></b><b><span style=\"text-decoration: underline;\">APRIL 2014…TO DATE:</span></b></p>\n<p align=\"center\">TRADING MICRO-LOTS:\n10 trades at $0.10 cents each = $1.00 risk for $32.50 profit.</p>\n<p align=\"center\">TRADING MINI-LOTS:\n10 trades at $1.00 each = $10.00 risk for $325.00 profit.</p>\n<p align=\"center\">TRADING STANDARD LOTS:\n10 trades at $10.00 each = $100.00 risk for $3,250.00 profit.</p>\n<p align=\"center\"><b><span style=\"text-decoration: underline;\">COMBINED FLASH, RADAR AND FUNDAMENTAL TRADES PROFIT PERFORMANCE\n</span></b><b><span style=\"text-decoration: underline;\">TOTAL 2014…SO FAR:</span></b></p>\n<p align=\"center\">TRADING MICRO-LOTS:\n150 trades at $0.10 cents each = $15.00 risk for $236.00 profit.</p>\n<p align=\"center\">TRADING MINI-LOTS:\n150 trades at $1.00 each = $150.00 risk for $2,360.00 profit.</p>\n<p align=\"center\">TRADING STANDARD LOTS:\n150 trades at $10.00 each = $1,500.00 risk for $23,600.00 profit.</p>\n&nbsp;\n\nThe above examples are for illustration purposes only:\n\nThe profitability examples detailed above are based solely upon single lot trading, regardless of lot type. If multiple lot sizes are traded the profitability margins will be different than those shown.\n\nJust to provide more information so you understand where I am coming from with the risk / reward statements above. All of my trades are of different sizes and different size lot types. The above does not reflect the actual trading performance. I like to add to trades, profits are taken as the trade progresses and my overall cost average moves several times. All of my trades are of different lot styles. I trade a mixture of micro lots, mini lots and standard lots across my brokers.\n\nThe above results simply display your profit or loss if you placed a single lot trade on all the set-ups suggested and did nothing else.\n\n&nbsp;\n\n<b><span style=\"text-decoration: underline;\">4. LOOKING FORWARD…THE KEY SUPPORT &amp; RESISTANCE LEVELS WITH THE USD MAJORS:</span></b>\n\n<b>EUR/USD: Closing Price 1.3701.</b>  We close at the breakdown level. The next few trading sessions next week will determine the general direction of the upcoming forex moves in the market overall. As the most liquid currency pair the EUR/USD directs, pulls and influences currencies with it, whichever way it trades.  I see the trading range as 1.3640 to 1.3850. A break from this range should, I hope, set up the market nicely for some nice moves.\n\n<b>GBP/USD: Closing Price 1.6559.  </b>We close the week below 1.6600. I had thought earlier in the week that should I witness this event I would be over this pair like a rash to the short side. I haven’t even thought about trading it.  I have real fears about trading cable as it has a nasty habit of getting you as a trader set up for a move and then it just turns about face and heads off in the opposite direction. Technically it looks like 1.6250 is next major support and then it does not get bullish again unless we break above 1.6750.\n\n<b>AUD/USD: Closing Price 0.9288</b>.  There was a nice bullish run after NFP to take this pair back towards resistance at 0.9300. I am looking to short this pair again soon…I was going to enter short the same time that I shorted the NZD/USD after NFP but I wanted to wait for stops to be taken above 0.9300. That of course did not happen and now I face the timing issue of entering short.Ideally, I wanted to get short around 0.9320.  The trading range that I will be monitoring over the coming sessions is 0.9200 to 0.9320.\n\n<b>NZD/USD: Closing Price 0.8572</b>.  Just like the AUD/USD, this pair had a lovely little bull run to enable all those traders like myself to enter short around 0.8600. At this level you know what your ultimate risk is, which is of course multi year highs at 0.8693. Support that I really want to see taken out lies at 0.8450.<b> </b>\n\n<b>USD/CAD: Closing Price 1.0980.</b>  I am getting very frustrated by my home- based currency. It really does live up to its name the “Loonie”. I am still bullish as long as we are above 1.0880, which is a multi year support trend line. I really want a loonie move to take out resistance above 1.1230 to really set this pair up for a run at 1.1600, which is where I think the technical stake us. I fear that we will hover around 1.0950 to 1.1050 for a while. There is no major CAD news this week so hopefully it will consolidate and get ready to bounce upwards.\n\n<b>USD/CHF: Closing Price 0.8911</b>.  I am long this pair and looking to add other CHF crosses. I have as per the section TRADES ON MY RADAR two further limit orders waiting to be triggered. We closed above 0.8900, which was crucial. Now I believe that a move to 0.9300 is possibly worth talking about in the medium term. We shall see if that trade will happen early next week depending upon the first few trading sessions, nevertheless I remain bullish this pair as it is in breakout territory. The trading range that I am looking at is support at 0.8850 and resistance at 0.9000.<b> </b>\n\n<b>USD/JPY: Closing Price 103.23.  </b>This pair closes the week up over last weeks close but down significantly on where it started just prior to NFP. The next few sessions will be crucial for the USD/JPY and all the JPY crosses. If equities start to sell off, Abe’s vision of a weakening JPY currency may be placed on hold for a wee while. The range going forward that interests me is support at 102.60 and resistance back at 104.45.\n\n<span style=\"text-decoration: underline;\"> </span>\n\n<b><span style=\"text-decoration: underline;\">5. MAJOR FOREX NEWS THIS WEEK THAT INTERESTS ME:</span></b>\n\nSUNDAY: N/A.\n\nMONDAY: N/A.\n\nTUESDAY: N/A.\n\nWEDNESDAY: USD – FOMC Meeting Minutes.\nWEDNESDAY: AUD – Employment Data.\n\nTHURSDAY: N/A.\n\nFRIDAY: N/A.<b></b>\n\n&nbsp;\n\n<b><span style=\"text-decoration: underline;\">6. FINAL THOUGHTS:</span></b>\n\nNot a huge amount of news items catch my eye this week. There is not much to talk about in my view; I think equities will direct the forex market over the next few sessions. Only the FOMC and Australian Employment Data really interest me.\n\nAs you know, I am always looking for the signs that show that equities are starting to reverse and with the NASDAQ sell off on Friday last week, this could be where it starts. The EUR/USD is on the cusp of a breakdown and this will also pull the forex market.\n\nIn addition, I still think that there is a degree of uncertainty in the equity market regarding the grind higher and any excuse will be used to both start and justify the pullback / correction.\n\nTherefore, this is not a time to be a hero. Do not try to pick tops or bottoms just go with the flow and trade if you see an opportunity. Do not force trades let them come to you?\n\nTake care and good luck. Be careful with position sizes.\n\nScott Pickering\nThe Pip Accumulator\nSaturday April 5th 2014\n\nEMAIL / FOLLOW ME AT:\ndrivethru@weeklyfxdrivethru.com\nTwitter: @pipaccumulator\n<span style=\"line-height: 1.5em;\">Google+/scottpickering</span>\n\n&nbsp;\n\n&nbsp;\n\n&nbsp;\n\n&nbsp;\n\n&nbsp;\n\n&nbsp;\n\n&nbsp;\n\n&nbsp;\n\n&nbsp;','IS DRAGHI AND THE ECB COUNCIL A LAUGHING STOCK, OR ARE THEY JUST VERY CLEVER FECK**S?','','inherit','open','closed','','3424-autosave-v1','','','2014-04-05 12:47:47','2014-04-05 17:47:47','',3424,'https://weeklyfxdrivethru.com/3424-autosave-v1/',0,'revision','',0),(3443,1,'2014-04-05 12:58:22','2014-04-05 17:58:22','<section class=\"pdf-links\">\r\n<div class=\"one-third first\"></div>\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/02/TRADING-WITH-ATRs.pdf\">TRADING WITH ATR\'s</a>\r\n<div class=\"one-third\"></div>\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/02/HEDGING.pdf\">HEDGING</a>\r\n<div class=\"one-third\"></div>\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/02/CREATING-A-TRADING-PLAN-3.0.pdf\">CREATING A TRADING PLAN</a>\r\n<div class=\"one-third\"></div>\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/03/FOLLOWING-YOUR-TRADING-PLAN-.pdf\">FOLLOWING YOUR TRADING PLAN</a>\r\n<div class=\"one-third\"></div>\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/03/PLANNING-YOUR-TRADES-2.0.pdf\">PLANNING YOUR TRADES (2.0)</a>\r\n<div class=\"one-third\"></div>\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/03/MANAGING-RISK.pdf\">MANAGING RISK</a>\r\n<div class=\"one-third\"></div>\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/03/STOP-PLACEMENT.pdf\">STOP PLACEMENT</a>\r\n<div class=\"one-third\"></div>\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/04/MAXIMISING-PROFIT-POTENTIAL-BY-PROPERLY-SIZING-POSITIONS.pdf\">MAXIMISING PROFIT POTENTIAL BY PROPERLY SIZING POSITIONS</a>\r\n<div class=\"one-third\"></div>\r\n<div class=\"one-third\"></div>\r\n<div class=\"one-third\"></div>\r\n<div class=\"one-half first\">These resources are in PDF format that will allow for easy printing</div>\r\n</section>','Trading Essentials','','inherit','open','closed','','2538-revision-v1','','','2014-04-05 12:58:22','2014-04-05 17:58:22','',2538,'https://weeklyfxdrivethru.com/2538-revision-v1/',0,'revision','',0),(3447,1,'2014-04-07 07:27:19','2014-04-07 12:27:19','Good morning,\r\n\r\nA very subdued opening in Asia and Europe was not much better. No major news driving the FX market this week, so we will be relying quite heavily on the equities markets.\r\n\r\nLIVE TRADES are as follows: -\r\n\r\n<strong>USD/CAD - long</strong>\r\n<strong>NZD/USD - short</strong>\r\n<strong>USD/CHF - long</strong>\r\n<strong>CAD/CHF - long</strong>\r\n<strong>AUD/CHF - long </strong>\r\n<strong>USD/SEK - long\r\nGBP/NZD - long</strong>\r\n\r\nLimit orders outstanding AUD/USD short. I have amended the entry level slightly with my broker this morning. Really post off that it did not trigger last night.\r\nLIMIT ORDER ENTRY 0.9290\r\nSTOP LOSS 0.9340\r\nLIMIT / TARGET 0.8500\r\nI may have to review this again as the day progresses.\r\n\r\nShould the AUD fall aggressively I will be getting long EUR/AUD and GBP/AUD.\r\n\r\nADDITIONAL TRADE SET UP (with my USD majors broker): -\r\n\r\nEUR/USD\r\nShort\r\nLIMIT ENTRY: 1.3750\r\nStop Loss 1.3830\r\nLimit 1.3450\r\n\r\nIf any of you are not yet long the USD/CHF, should it fall to 0.8850 trend line support this would be an excellent place to consider a long trade. Obviously, movements in this pair are determined by the price action in the EUR/USD.\r\n\r\nMy overview thoughts of the market are solidifying from my thoughts expressed in recent blogs.\r\n<ol>\r\n	<li>Equities are trading very heavy at the moment and are week.</li>\r\n	<li>The 5 year S&amp;P 127.6% extension is creating huge issues and therefore  hence the volatility.</li>\r\n	<li>I still think a correction / pullback has  S&amp;P 1600 written all over it. Hence my commodity currency thoughts with trades.</li>\r\n	<li>The Dow Jones has been struggling with 16,500/16,550 - 4 times we have rejected at these lofty levels.</li>\r\n	<li>The NASDAQ is under-performing. The Daily Chart Trend line support is broken. We are pulling back.</li>\r\n	<li>Momentum stocks are being actively sold.</li>\r\n	<li>Bio-Tech and Tech stocks are being hit first, which is consistent with twitchiness in the market as far as I am concerned.</li>\r\n	<li>Dow Transports had a great opportunity to clip the GOLDEN FIB extension of 161.8% on Friday last week. It failed and pulled back. All time highs missed, this is very bearish.</li>\r\n</ol>\r\nAs time goes if the above consolidates I will be adding to existing positions and adding new trades. The key for me right now is not  to get too carried away.\r\n\r\nI am looking to my lead indicators for clues: -\r\n\r\nAUD/USD below 0.9200 and then 0.9130.\r\nUSD/CAD above 1.1050.\r\nNZD/USD below 0.8480.\r\n\r\nRISK MANAGEMENT is crucial when one has a master plan coming into play. If my thoughts are confirmed I must ensure that any trades placed or added to are within my RISK MANAGEMENT guidelines. I may exit trades in favour of better risks to ensure that I trade within my TRADING PLAN guidelines.\r\n\r\nScott','#6 - THE DAILY FX POST, Monday 7th April 2014','','inherit','open','closed','','3446-revision-v1','','','2014-04-07 07:27:19','2014-04-07 12:27:19','',3446,'https://weeklyfxdrivethru.com/3446-revision-v1/',0,'revision','',0),(3491,1,'2014-04-16 06:33:33','2014-04-16 11:33:33','Good Morning,\r\n\r\nWelcome again, and a special welcome to 4 new subscribers from the past couple of days.\r\n\r\nThis post today will be a little longer than normal as at the end of the morning update I want to review all the trades that closed yesterday, plus the new trades added to the existing live trades and also my thoughts as we enter a thinning market before Easter weekend.\r\n\r\nWow...yesterday\'s equity markets volatility was unreal. These moves in the S&amp;P up 25-30 points then down 20 points then back up 35 points is not normal. Swings from highs to lows and back is severe price action and many traders would have lost thousands of dollars. I believe that we are in a process of finding  and delivering a MARKET TOP and this is why we have this severe, extreme volatility. If you are able to keep your head above water you are doing well.\r\n\r\nOvernight we had good? China data..this is NOT reflected in the NZD/USD for example. I am actively looking today to short the NZD/USD and also the AUD/USD. In fact if we can get the AUD/USD as close to or above 0.9400 I would see this a great short opportunity. I will tweet if I enter or place trades.\r\n\r\nThe GBP/USD topped at recent highs on the back of great Unemployment data. If this pair cannot break 1.6825 today, I think this pair could offer a great short. But you need to be careful it is the cable.\r\n\r\nI was stopped out of the USD/JPY yesterday as it bounced. It has only reached the 38% retracement of the recent 104.00 drop. It is struggling this offers a great area to try a short after the U.S. data dump this morning...maybe?\r\n\r\nBOC Interest rate decision and Press Conference later today and Janet Yellen speaks live.  Be careful if you decide to enter USD related trades she may take this opportunity to have the USD beaten down.\r\n\r\nIt will no surprise to those of you with me for a while that as we enter a thinning market with traders taking additional vacation time, it will be my intention to reduce risk a little. All of the open positions are small trades and from a financial perspective do not concern me too much, but I will be reviewing stop losses to allow for swings over the holidays should I decide to leave a trade active. From this afternoon onwards I will start the revisions and I will tweet my actions.\r\n\r\n<span style=\"text-decoration: underline;\"><strong>RADAR TRADES THAT TRIGGERED OVERNIGHT:\r\n</strong></span>\r\n\r\nEUR/SEK - RT56 - limit order entry at 9.0792 (long)\r\nNZD/CAD - RT55 - limit order entry at 0.9477 (long)\r\n\r\n<span style=\"text-decoration: underline;\"><strong>EXISTING LIVE TRADES: (PLUS THE TWO LISTED ABOVE):</strong></span>\r\n\r\nEUR/USD - FLASH TRADE FT77  - short\r\nUSD/CAD - FLASH TRADE FT69 - long\r\nUSD/CHF - FLASH TRADE FT73 - long\r\nUSD/SEK - FLASH TRADE FT92 - long\r\nSEK/JPY - FLASH TRADE FT93 - short\r\nGBP/NZD - FUNDAMENTAL TRADE FUN14 - long\r\n\r\n<span style=\"text-decoration: underline;\"><strong>CLOSED TRADES FROM YESTERDAY:</strong></span>\r\n\r\nNZD/USD - a FLASH TRADE (FT94) just after the NZD CPi news release. (+22 pips)\r\nUSD/JPY -  a FLASH TRADE (FT84) from the 10th April. I was stopped out of this one yesterday on the nasty U.S. afternoon session bounce. (-50 pips)\r\nNZD/USD - a FLASH TRADE from yesterday that we took 3 bites of profits from as it fell. I moved the stop to get ahead of break even for bite number 3 and on the afternoon session bounce I was stopped out (+2 pips)\r\n\r\nGood luck with your trading and do not get suckered into trades....you may end up with them over the holidays and that may NOT have been your original intention!!\r\n\r\nScott','#13 - THE DAILY FX POST, Wednesday 16th April 2014','','publish','open','closed','','13-daily-fx-post-wednesday-16th-april-2014','','','2014-04-16 06:33:33','2014-04-16 11:33:33','',0,'https://weeklyfxdrivethru.com/?post_type=member_posts&#038;p=3491',0,'member_posts','',0),(3449,1,'2014-04-08 06:34:35','2014-04-08 11:34:35','I am currently building positions based on the fact I am expecting USD to strengthen at the equity markets fall.\r\n\r\nI have received one or two emails  asking for my opinion on why the USD has not strengthened  yet equities are trading heavy. In fact overnight the commodity currencies broke higher in style. I was stopped out of both AUD/USD and NZD/USD shorts. In normal trading conditions my stops would have been wider, but as you know I am trading smaller position sizes and narrower stops due to the twitchiness in the market. That does NOT mean that I will not re-enter short again later today.\r\n\r\nBasically, when it is RISK OFF or RISK AVERSION one would normally see the USD strengthen. Or the other way to look at things... when there is FEAR the USD strengthens. We are not seeing USD strength yet equities are falling. I think we are victims of the markets not believing that this anything else other than a 5-10% mini correction.\r\n\r\nRemember, we are in an uptrend in the S&amp;P. If you look at the Daily chart there is no denying that fact. We have seen repeated higher highs and higher lows in the grand. We need to see a lower low to get things moving. A lower low stops the repeating trend and should make matters a little more interesting. The S&amp;P below 1830, maybe a little less will open up the eyes to see that the fall in the markets could be something more than twitchiness in an up trend. Watch the S&amp;P 1830 today.\r\n\r\nIf we bounce off 1830 higher the chop fest will continue.\r\n\r\nI am looking to add to existing positions to change / improve my cost averages and I will re-enter more trades today if we see a confirmed break lower through S&amp;P 1830 support.\r\n\r\nI will tweet any trades that I am looking at. It may be an interesting day...but do not hold your breath.\r\n\r\nScott','#7 - THE DAILY FX POST, Tuesday 8th April 2014','','publish','open','closed','','7-daily-fx-post-tuesday-8th-april-2014','','','2014-04-08 06:34:35','2014-04-08 11:34:35','',0,'https://weeklyfxdrivethru.com/?post_type=member_posts&#038;p=3449',0,'member_posts','',0),(3450,1,'2014-04-08 06:34:35','2014-04-08 11:34:35','I am currently building positions based on the fact I am expecting USD to strengthen at the equity markets fall.\r\n\r\nI have received one or two emails  asking for my opinion on why the USD has not strengthened  yet equities are trading heavy. In fact overnight the commodity currencies broke higher in style. I was stopped out of both AUD/USD and NZD/USD shorts. In normal trading conditions my stops would have been wider, but as you know I am trading smaller position sizes and narrower stops due to the twitchiness in the market. That does NOT mean that I will not re-enter short again later today.\r\n\r\nBasically, when it is RISK OFF or RISK AVERSION one would normally see the USD strengthen. Or the other way to look at things... when there is FEAR the USD strengthens. We are not seeing USD strength yet equities are falling. I think we are victims of the markets not believing that this anything else other than a 5-10% mini correction.\r\n\r\nRemember, we are in an uptrend in the S&amp;P. If you look at the Daily chart there is no denying that fact. We have seen repeated higher highs and higher lows in the grand. We need to see a lower low to get things moving. A lower low stops the repeating trend and should make matters a little more interesting. The S&amp;P below 1830, maybe a little less will open up the eyes to see that the fall in the markets could be something more than twitchiness in an up trend. Watch the S&amp;P 1830 today.\r\n\r\nIf we bounce off 1830 higher the chop fest will continue.\r\n\r\nI am looking to add to existing positions to change / improve my cost averages and I will re-enter more trades today if we see a confirmed break lower through S&amp;P 1830 support.\r\n\r\nI will tweet any trades that I am looking at. It may be an interesting day...but do not hold your breath.\r\n\r\nScott','#7 - THE DAILY FX POST, Tuesday 8th April 2014','','inherit','open','closed','','3449-revision-v1','','','2014-04-08 06:34:35','2014-04-08 11:34:35','',3449,'https://weeklyfxdrivethru.com/3449-revision-v1/',0,'revision','',0),(3452,1,'2014-04-09 07:24:50','2014-04-09 12:24:50','Good Morning,\r\n\r\nUSD is still very weak......and I think that market is directionally challenged. The only hope that I can see for the USD is a huge dollop of  RISK AVERSION. If we get a \"Dovish\" FOMC this afternoon the USD could be taken to the cleaners, but, we at the same time we are a whisker away from the market correcting. S&amp;P 1830 is crucial support again today.\r\n\r\nHere are my macro thoughts on the majors: -\r\n\r\nEUR /USD - Range is 1.3750 to 1.3830.\r\n\r\nGBP/USD - Not pulling back.\r\n\r\nUSD/JPY - Will lead today and the S&amp;P support at 1830 is critical. Below this level should coincide with the USD/JPY breaking through 101.50.\r\n\r\nUSD/CAD - Just not bouncing.\r\n\r\nAUD/USD  - looks like Head and Shoulders target of 0.9500 may be on after all.\r\n\r\nNZD/USD - looks to me like this is just a momentum move higher. I cannot believe that at these levels its fair value for this currency. All I can think is that the closer we get to 0.9000 the better the short.\r\n\r\nUSD/CHF - Trading range is 0.8800 to 0.8900.\r\n\r\nI am not looking to add to any positions at the moment. We have the FOMC and AUD (Employment Data) later today, so it would be conservative to hold back until after these news items, in my opinion.\r\n\r\nScott','#8 - THE DAILY FX POST, Wednesday 9th April 2014','','inherit','open','closed','','3451-revision-v1','','','2014-04-09 07:24:50','2014-04-09 12:24:50','',3451,'https://weeklyfxdrivethru.com/3451-revision-v1/',0,'revision','',0),(3454,1,'2014-04-10 07:18:08','2014-04-10 12:18:08','Good Morning,\r\n\r\nWe are at some very interesting positions globally. The NIKKEI 225 is about 225 points from critical support. A 1% move is required and we are there. A break through support and a major JPY breakdown could be on the cards. I am looking to short properly the USD/JPY.\r\n\r\nI am presently short SEK/JPY on the back of poor Swedish Inflation data overnight, if the JPY breaks down this should be a brilliant trade, but I am ahead of the game slightly.\r\n\r\nI have a limit order with my brokers on the CAD/JPY short (not yet triggered). Watch this space NIKKEI moves and JPY effects could be market moving in monumental style.\r\n\r\nChinese data last night was really poor and i would not rule out this having an effect today. The AUD employment data last night was once again great data.\r\n\r\nCurrently I am live in 8 trades with a pending limit order. This is normally my limit but most of them are very small positions and my RISK MANAGEMENT limits are not yet complete, so if I wish I can take on more risk. No sure I want to apart from the USD/JPY short.\r\n\r\nJust to let you know I have increased my position sizes on the USD/CAD and USD/CHF....happy with CAD not as happy with CHF.\r\n\r\nLets see what today brings, it could be an interesting day. At the time of writing this the NZD/USD is at lows of the day and the USD/CAD is back above 1.0900....just saying but not counting my chickens.\r\n\r\nScott','#9 - THE DAILY FX POST, Thursday 10th April 2014','','inherit','open','closed','','3453-revision-v1','','','2014-04-10 07:18:08','2014-04-10 12:18:08','',3453,'https://weeklyfxdrivethru.com/3453-revision-v1/',0,'revision','',0),(3456,1,'2014-04-11 07:28:51','2014-04-11 12:28:51','Good Morning,\r\n\r\nVia Twitter (if you are using @ThePremService) you will know that I closed all JPY trades except USD/JPY and SEK/JPY. These multiple trades I had hoped to exit last night but the fall never happened until this morning and not for reasons that I was expecting. It looked like the U.S. equity markets reacted to poor financial results from JP Morgan. In any event, I\'ll take it..... and I banked +151 pips from the JPY pairs.\r\n\r\nIt looks like we could be in for an interesting day today. All the leads will come from the equities markets. I will be looking at all my open positions to limit risk exposure going into the weekend. The markets right now do not look healthy the DOW FUTURES -70 points and EUR/USD at the lows of the day. This would indicate to me that the markets are now becoming more risk averse and from this I would imagine that the USD would gain more strength, or rather get some strength.\r\n\r\nTake you leads today from equities. The only trades I will play with today adding are USD/JPY short and USD/CAD long I may add again before lunch to further improve cost average and profitability potential, particularly as it could squeeze today.\r\n\r\nThe USD/CAD  is on the tear this morning moving up very nicely and looking at the 60 minute chart there appears to be an inverted head and shoulders pattern in play with a measured move up 1.1040.\r\n\r\nMy goals today are: -\r\n<ol>\r\n	<li>Limit risk exposure going into the weekend.</li>\r\n	<li>I would like to cover part of my USD/CAD long as high as I can and amend the stop loss position.</li>\r\n	<li>Reduce position size on USD/SEK</li>\r\n	<li>Reduce position size and manage stops on NZD/USD.</li>\r\n</ol>\r\nAbove all today. Trade carefully......remember it is a FRIDAY\r\n\r\nScott','#10 - THE DAILY FX POST, Friday 11th April 2014','','inherit','open','closed','','3455-revision-v1','','','2014-04-11 07:28:51','2014-04-11 12:28:51','',3455,'https://weeklyfxdrivethru.com/3455-revision-v1/',0,'revision','',0),(3511,1,'2014-04-19 10:53:19','2014-04-19 15:53:19','&nbsp;\r\n\r\n<strong>1. INTRODUCTION:</strong>\r\n\r\nThe market jitters continued over the part 7 days. Some of the swings from lows to highs were just incredible. It would have been a wild ride if you were caught in the crossfire, hopefully if you were unfortunate to be there it wasn’t too costly. However, I strongly suspect that many traders were caught and many thousands of $$$ were lost this past week. If you were to combine losses from previous weeks and believe me there would have been losses, I would say many trading organizations as well as individual traders struggled.\r\n\r\nAs I have repeatedly stated over and over again the only way to survive this volatility is to trade smaller position sizes, with wider stops or NOT to trade at all.\r\n\r\nMy broker account balances are growing but at a reduced rate. Just keeping your head above water is a success right now. I had a conference call yesterday (Friday) with two other traders, well known in the social network sphere and very well connected. Without prompting they both claimed it to be the hardest trading environment they have seen for years and because we are at so many inflection points across currencies, equities and worldwide indices, the volatility with the two-way price action at the inflection points is excessive. I called that the under- statement of 2014 so far.\r\n\r\nHowever, it is what it is and we have to move on but accept the increased risks associated with trading.\r\n\r\nMy favourite subject the EUROZONE features as my main topic of conversation this week. So in this section I will avoid all EUROZONE references.\r\n\r\nAway from the EUROZONE, for me, it was not a major news event week, with the exception of the Chinese Data. I do not want to upset my Chinese subscribers but there comes a point when the data released and the subsequent market reaction becomes laughable. All I want to say is that, the miss and it was a miss when look behind the annualized numbers will plague the AUD and NZD currencies going forward.\r\n\r\nI also want to reach out to the new PREMIUM SERVICE subscribers. Please be aware there are now over 80 subscribers in total, which, is fantastic and ahead of Marketing Plan. The vast majority of my PREMIUM SERVICE subscribers are happy just to receive the DAILY FX POST and this weekly blog and are not interested in Twitter. I have absolutely no problem with this approach at all, but please bear in mind there are only 24 hours in a day, I need sleep from time to time so I cannot answer emails or SKYPE messages immediately, nor do I look for Twitter conversations.\r\n\r\nI have to research, publish set-ups, trade myself, manage trades, tweet, blog and write additional articles for the PREMIUM SERVICE version of this blog, plus develop Broker relationships for the future as the PREMIUM SERVICE develops. If it takes me an hour or so to respond to questions I apologize. I promise you I am busy but I will get back to you.\r\n\r\nI am looking at the option of hosting a weekly webinar in conjunction with one of my selected brokers to answer any trading questions and maybe look at some live trading. I want to be fair to all subscribers as you are spread worldwide in every time zone so the timings would vary each time to cover all time zones around 7-8pm at night local times. If this is something that you would like me to pursue please drop me an email at premiumservice@weeklyfxdrivethru.com\r\n\r\n&nbsp;\r\n\r\n<strong> </strong>\r\n\r\n<strong>2. TRADING SUMMARY:</strong>\r\n<p style=\"text-align: center;\"><strong>RADAR, FLASH and FUNDAMENTAL TRADES\r\n</strong><strong>APRIL 2014 and YEAR to date:</strong></p>\r\n<p style=\"text-align: center;\">Below I show the up to date performances for my various trading styles. Full excel spreadsheets are in the subscriber area of the PREMIUM SERVICE.</p>\r\n<strong> </strong><strong> </strong>\r\n<p style=\"text-align: center;\"><strong>RADAR TRADES – APRIL 2014…TO DATE:\r\n</strong><strong>PROFITS FROM SINGLE LOT COMPLETED RADAR TRADES:</strong></p>\r\n<p style=\"text-align: center;\">1 x MICRO-LOT:\r\n7 trades at $0.10 cents each = $0.70 risk for $9.60 loss.</p>\r\n<p style=\"text-align: center;\">1 x MINI-LOT:\r\n7 trades at $1.00 each = $7.00 risk for $96.00 loss</p>\r\n<p style=\"text-align: center;\">1 x STANDARD LOT:\r\n7 trades at $10.00 each = $70.00 risk for $960.00 loss</p>\r\n<p style=\"text-align: center;\"><strong>FLASH TRADES – APRIL 2014…TO DATE:\r\n</strong><strong>PROFITS FROM SINGLE LOT COMPLETED FLASH TRADES:</strong></p>\r\n<p style=\"text-align: center;\">1 x MICRO-LOT:\r\n25 trades at $0.10 cents each = $2.50 cents risk for $74.70 profit.</p>\r\n<p style=\"text-align: center;\">1 x MINI-LOT:\r\n25 trades at $1.00 each = $25.00 risk for $747.00 profit.</p>\r\n<p style=\"text-align: center;\">1 x STANDARD LOT:\r\n25 trades at $10.00 each = $250.00 risk for $7,470.00 profit.</p>\r\n<strong> </strong>\r\n<p style=\"text-align: center;\"><strong>FUNDAMENTAL TRADES – APRIL 2014…TO DATE:\r\n</strong><strong>PROFITS FROM SINGLE LOT COMPLETED FUNDAMENTAL TRADES:</strong></p>\r\n<p style=\"text-align: center;\">1 x MICRO-LOT:\r\n2 trades at $0.10 cents each = $0.20 cents risk for $3.40 profit.</p>\r\n<p style=\"text-align: center;\">1 x MINI-LOT:\r\n2 trades at $1.00 each = $2.00 risk for $34.00 profit.</p>\r\n<p style=\"text-align: center;\">1 x STANDARD LOT:\r\n2 trades at $10.00 each = $20.00 risk for $340.00 profit.</p>\r\n<p style=\"text-align: center;\"><strong>COMBINED FLASH, RADAR AND FUNDAMENTAL TRADES PROFIT PERFORMANCE\r\n</strong><strong>APRIL 2014…TO DATE:</strong></p>\r\n<p style=\"text-align: center;\">TRADING MICRO-LOTS:\r\n34 trades at $0.10 cents each = $3.40 risk for $68.50 profit.</p>\r\n<p style=\"text-align: center;\">TRADING MINI-LOTS:\r\n34 trades at $1.00 each = $34.00 risk for $685.00 profit.</p>\r\n<p style=\"text-align: center;\">TRADING STANDARD LOTS:\r\n34 trades at $10.00 each = $340.00 risk for $6,850.00 profit.<strong> </strong><strong> </strong></p>\r\n<p style=\"text-align: center;\"><strong>COMBINED FLASH, RADAR AND FUNDAMENTAL TRADES PROFIT PERFORMANCE\r\n</strong><strong>TOTAL 2014…SO FAR:</strong></p>\r\n<p style=\"text-align: center;\">TRADING MICRO-LOTS:\r\n174 trades at $0.10 cents each = $17.40 risk for $272.00 profit.</p>\r\n<p style=\"text-align: center;\">TRADING MINI-LOTS:\r\n174 trades at $1.00 each = $174.00 risk for $2,720.00 profit.</p>\r\n<p style=\"text-align: center;\">TRADING STANDARD LOTS:\r\n174 trades at $10.00 each = $1,740.00 risk for $27,200.00 profit.</p>\r\nThe above examples are for illustration purposes only:\r\n\r\nThe profitability examples detailed above are based solely upon single lot trading, regardless of lot type. If multiple lot sizes are traded the profitability margins will be different than those shown.\r\n\r\nJust to provide more information so you understand where I am coming from with the risk / reward statements above. All of my trades are of different sizes and different size lot types. The above does not reflect the actual trading performance, but it does show you the direction of the performance of the trades placed.\r\n\r\nI like to add to trades, profits are taken as the trade progresses and my overall cost average moves several times. All of my trades are of different lot styles. I trade a mixture of micro lots, mini lots and standard lots across my brokers.\r\n\r\nThe above results simply display your profit or loss if you placed a single lot trade on all the set-ups suggested and did nothing else.\r\n\r\n<strong> </strong><strong> </strong>\r\n\r\n<strong>3. THE FUNDAMENTAL TRADERS OVERVIEW:</strong>\r\n<p style=\"text-align: center;\"><strong>IT’S ABOUT TIME DRAGHI ACTED ON DEFLATION, UNEMPLOYMENT - THE EUROZONE THE STATISTICS ARE JUST DREADFUL</strong></p>\r\n&nbsp;\r\n\r\n<strong> <a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/04/EZ-INSERT-PSBLOG-19042014.png\"><img class=\"aligncenter size-full wp-image-3499\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/04/EZ-INSERT-PSBLOG-19042014.png\" alt=\"EZ INSERT PSBLOG 19042014\" width=\"426\" height=\"515\" /></a></strong>\r\n\r\n<strong> </strong>\r\n\r\nThe above chart is self-explanatory.\r\n\r\nIt highlights the task that the ECB and the various governments in the Eurozone have in front of them if they are to tackle the basics of improving the economic performance of their country. I have for the purpose of this blog taken a sample of countries in the Eurozone focusing on the bailout countries, plus a couple of other high profile members and the two majors of France and Germany.\r\n\r\nQuite frankly 5 years after the financial crisis to see these statistics shows what a poor job has been done by the ECB in tackling fundamental problems. In saying that I know that individual countries have had a part to play but under the banner of one central bank the ECB is responsible to act in the best interests of all members of the single currency union. I do not in my opinion believe that this has been the case.\r\n\r\nI admit work has been done, very substantial work has been carried out in ensuring stability in the banking industry across the Eurozone. Yet, with all this work we on the verge of yet another banking stress test in the Eurozone, one has to ask why so many? One can only assume because they have not been stressful enough in the past and that the ECB is concerned. Additionally the appointment of a “Banking Tzar” to manage and monitor banking performance drags on and on and on…another can is being constantly kicked down the never ending road out of Brussels towards Frankfurt and Berlin.\r\n\r\nWhen talking or writing about the Eurozone you always have to bear in mind it is the land of compromise. It is virtually impossible with everything that goes on in Brussels to get agreement from all member states on something no matter what the subject may be. Even the Cheese and Wine debate for Country-head meetings has its protestors. The phrase “Kicking the can down the road” emanates from the Eurozone and quite right too. It is collection of 18 member states that all use the same chequebook, who all have their own culture and separate identities and their own domestic problem issues.\r\n\r\nHow on earth can 18 into 1 go? The simple fact is it does not fit. Hence all the outstanding issues, all the compromises and all the cans being kicked down the road. This also adds to the poor communications, there are 18 people at least on every subject trying to claim sound-byte time in the media to get their individual view across.\r\n\r\nThe biggest hurdle in the Eurozone however is Germany, the leader, the powerhouse and the country with all the money and the financial strength. As long as Germany is in good shape F**K the rest seems to be approach. The Eurozone is said to be based upon equal voices, equal voices my a**e.\r\n\r\nWe have a situation in the Eurozone that is just getting worse and worse. For over 12 months bugger all has been done to fight unemployment. The number of under 25 year olds jobless, in particular, is a bloody disgrace and those in power should be ashamed of their performance in tackling this. But, Germany’s jobless rate is considerably below the Eurozone average so NO attention or focus has been directed to this area in the past year. The call for stimulus has been made - but ignored.\r\n\r\nGermany’s GDP and Inflation rates are above average but not in line with Eurozone targets and recent PPi prints show that producer prices in Germany are now negative showing that DEFLATION is becoming a German issue as well as a major issue for other member countries who have had to live with DEFLATION for years. The inflation rate target for the Eurozone is 2%; presently we see 0.50% and nothing tells me that this number is increasing, quite the opposite in fact.\r\n\r\nThe Bundesbank and Angela Merkel are the primary culprits for this. Their policy of trying to make the other 17 countries of the Eurozone areas of Germany has failed miserably, and the belief that not tackling the issue head on hoping that it will somehow get better is quite pathetic.\r\n\r\nI also blame poor Mario Draghi, his only approach without permission from Germany to act is verbal intervention. For too long now we have listened to we will do “Whatever it takes”, “ We are not concerned about dis-inflation”, “Projections are in line”, “Extended period of stability ahead” etc. etc. etc….it is all bulls**t. Even France now wants to arrange a meeting of Eurozone members to discuss the high EUR/USD exchange rate.\r\n\r\nThe cost export goods from the Eurozone is very high, due to the strength of the single currency. Stimulus is required to lower the exchange rate, gets sales moving, and, get some of the unemployed off claiming welfare cheques and back into the workforce generating tax income, instead of being a tax burden to countries. Unemployment rates over 10% are a disgrace this is 2014 NOT 1920. It is so simple employed people contribute to a countrie’s wealth, therefore you would think focus on this to be paramount.\r\n\r\nThe Eurozone is so depressed prices are not rising because no one is buying anything other than essentials. The politicians have failed their voters miserably over the past few years. Country heads blame the fact that they cannot manipulate their currency to stimulate their domestic economies and rely on austerity measures to cut back to ensure they meet the German membership guidelines.\r\n\r\nIt has been a vicious circle for sometime, but I now think that there is a light at the end of the tunnel. Recent comments from the ECB board and Draghi himself have been consistent about looking at special measures to remove the risks of DEFLATION that are definitely starting to worry Germany as well.\r\n\r\nTo launch a stimulus programme in the Eurozone now will be much more costly and difficult to keep on track given that the U.S. and UK are way ahead in terms of progression away from what at the time a looming crisis. The U.S. tackled the financial crisis full on with Quantitative Easing under Ben Bernanke the then FED chairman, and the economy is now showing shoots of economic optimism. An improving employment situation and GDP of around 3%. The UK is without doubt the surprise package when it came to an economic recovery, this was helped without doubt by hosting the 2012 Olympic games. The Eurozone have done f**k all in 5 years to tackle what the U.S. and the UK took on immediately at the financial crash. The Eurozone because it dithers in everything it does is playing catch-up.\r\n\r\nThe options to stimulate open to the ECB / Draghi include, Quantitative Easing (QE), further Long Term Refinancing Options (LTRO) and Negative Deposit Rates for Central Banks with the ECB.\r\n\r\nWe must trade cautiously when trading the EUR, as news about any special measures may not just be reserved for ECB Press Conferences it could come at anytime. The mere fact that more and more talking is taking place leads me to believe that something is about to break. Germany must be concerned with it’s recent economic data, it confirms that they are also struggling and although the German approach is usually to do an ostrich impression and bury it’s head in the sand, I think that they have run out of cans to kick and timing is now right to act. The longer it is left with improving data emanating from the U.S. and close trading partner the UK the worse and longer the Eurozone recovery will be.\r\n\r\nSo…I asked on twitter a few days ago what is next for the EUR/USD 1.3450 or 1.3950?\r\n\r\nI ask it again and I wish I knew the answer because it would be one hell of trade if you knew!!\r\n\r\nMy gut feeling, moving forward is helped based upon the fact that the French Government is now openly struggling economically, and, they want to gather periphery support within the Eurozone. They want to move the ECB position on stimulus and the single currency strength but also pressurize the Germans into agreeing that ECB can change monetary policy - this will be telling and crucial news to the future of the Eurozone should it happen.\r\n\r\nI therefore think that if the Germans and the ECB are serious about tackling Eurozone DEFLATION, the Euro currency strength and unemployment, we should be looking at a target of sub 1.3000, closer to 1.2600 or even less, it depends on the message that they collectively want to send. A 10% correction would be a complete waste of time and laughed at. It has be substantial for the markets to sit up and take notice.\r\n\r\nOn the other side, if no action is taken soon I see the markets attempting a squeeze on the EUR/USD and we could see the ECB being forced to act in reactionary / emergency mode rather than taking control now and being pro-active with the markets. A powerful squeeze could see 1.5000 pretty fast at this level Draghi would be having kittens.\r\n\r\nThe ECB are great talkers so - DO NOT take anything for granted. Logic says that the pressure is to the downside but we may have to go long before going short.\r\n\r\n<strong> </strong><strong> </strong>\r\n\r\n<strong>4. TRADER TOPICS:</strong><strong> </strong>\r\n<p style=\"text-align: center;\"><strong>HANDLING NEWS WITH AN OPEN POSITION:</strong></p>\r\nI have already written about TRADING AROUND THE NEWS.\r\n\r\nThis document is based around how to handle open positions when a major news announcement is approaching. There are several strategies that I trade where this plan wouldn’t be ideal and I will highlight these as I write.\r\n\r\nThe point however, is that this information should at least show the importance of having an idea what to do with a position when there is about to be a major news announcement. For me, please bear in mind, when I say major news, I mean RED news items that are listed on Forex Factory. I would take no action if an announcement with low or moderate impact was on the horizon. Also, I am only interested about announcements that pertain to the specific currency pair. In other words, a big EUR announcement would not make me alter my USD/JPY position.\r\n\r\nWhy do we need to worry about news announcements when we already have a position, and we already have a stop loss and limit / profit target in place? We worry about this because a major news announcement can move the market a great deal. The examples below will show how these announcements can create more risk than normal.\r\n\r\nA few things to always remember when reading about this subject are that: -\r\n<ul>\r\n	<li>You can always reduce risks by adjusting your position size. It is easy to add back and adjust your cost average after the news event is over.</li>\r\n	<li>A lot depends on what type of trade you are currently live with. For me my approach on news is different for FUNDAMENTAL TRADES (very long term), RADAR TRADES (short term to swing) or FLASH TRADES (intra-day, pullback, scalping).</li>\r\n	<li>It’s all about RISK v REWARD</li>\r\n	<li>It’s all about PLANNING YOUR TRADES and TRADING YOUR PLAN.</li>\r\n</ul>\r\nEXAMPLE 1:\r\n\r\nTHE POSITION IS CURRENTLY NOT PROFITABLE:\r\n\r\nWe would in most cases leave the existing position intact. There is an exception to this rule. If the trade is 90% of the way to the stop loss position already with the broker (e.g. -50 pip stop and within 5 pips of stopping out), I would just close this trade. The reason for this is the concern that a big move against the trade could create a gap. If the gap goes past the stop then you could lose more than the risk tolerance in place, this is not good. If the trade is not near the stop loss in place just prior to the news it may be fine to leave the trade live and see what happens.\r\n\r\nEXAMPLE 2:\r\n\r\nTHE TRADE IS AT BREAK EVEN:\r\n\r\nWith this scenario that trade would usually be left live. However, there are a couple of exceptions.\r\n\r\nFirstly, if you think that there is a chance the news could gap beyond the stop loss, you should exit the trade. This is rare but is could apply to a very short-term trade.\r\n\r\nSecondly, another reason to exit the trade is if the original charting pattern no loner appears valid. If the original reason you placed the trade is gone, it makes no sense to continue. One would normally not expect this as most trades should be well thought out in advance but with a less defined strategy it could be a situation that you find yourself in.\r\n\r\nEXAMPLE 3:\r\n\r\nTHE POSITION IS CURRENTLY PROFITABLE:\r\n\r\nThis is probably the most difficult of the three scenarios to manage. In the first example, the trade is more likely to be stopped regardless. The second example happens very infrequently. Example 3 is quite tricky.\r\n\r\nIf the currency pair that you are trading is about 50% to the limit / target or better, personally, I would seriously think of exiting the trade. The reason is you can go from a nice profitable trade to a losing trade in an instant, or even be stopped out. However, there could also be some subjectivity in that level depending on how much you think the announcement could move the pair relative to the size of the pattern. The main objective is that you do not want to go from a profitable trade to a losing trade in a short amount of time.\r\n\r\nPsychological philosophy comes into play here, but for me it’s all about the risk reward. I would adjust the trade size and take profits off the table. The position size can always be added to after the news event is over, if it is the right thing to do.\r\n\r\nA news event generally represents a move that is random, rapid and usually large. Therefore, I always ask myself questions such as, “If I had a 50/50 chance of the currency pair moving up 30 pips or down 30 pips, would I take it right now?” This is a very basic and very simple example, it is like lots of things associated with trading a grey area, and it generates lots of different and conflicting views.\r\n\r\nThe easiest approach is just ignore the news, but I think by following the criteria listed above, trading results could be improved when you have a position in the market as a major news announcement it about to be released.\r\n\r\n<strong> </strong>\r\n\r\n<strong>5. MY CURRENT LIVE TRADES:</strong>\r\n\r\n<strong>FLASH TRADES:</strong>\r\n\r\nI am in several positions and I am not 100% happy with them all but many positions are very small position sizes that I do not mind holding. I am maybe too optimistic that I will engineer my way out of these poorer trades but my RISK MANAGEMENT is still 100%.\r\n<p style=\"text-align: center;\"><strong>FT69</strong>\r\n<strong> USD/CAD</strong>\r\n<strong>Long</strong>\r\n<strong>Cost Average / Entry Level: 1.1061</strong>\r\n<strong>Stop Loss: 1.0850</strong>\r\n<strong>Limit / Target: 1.1600</strong>\r\n<strong>Weekly Closing Price: 1.1005</strong>\r\n<strong>Position: -55 pips</strong></p>\r\n<p style=\"text-align: center;\"><strong>FT73</strong>\r\n<strong> USD/CHF</strong>\r\n<strong>Long</strong>\r\n<strong>Cost Average / Entry Level: 0.8937</strong>\r\n<strong>Stop Loss: 0.8800</strong>\r\n<strong>Limit / Target: 0.9250</strong>\r\n<strong>Weekly Closing Price: 0.8833</strong>\r\n<strong>Position: - 104 pips </strong></p>\r\n<p style=\"text-align: center;\"><strong>FT77</strong>\r\n<strong>EUR/USD</strong>\r\n<strong>Short</strong>\r\n<strong>Cost Average / Entry Level: 1.3744</strong>\r\n<strong>Stop Loss: 1.3950</strong>\r\n<strong>Limit / Target: 1.3450</strong>\r\n<strong>Weekly Closing Price: 1.3804</strong>\r\n<strong>Position: - 60 pips</strong></p>\r\n<p style=\"text-align: center;\"><strong>FT93</strong>\r\n<strong> SEK/JPY</strong>\r\n<strong>Short</strong>\r\n<strong>Cost Average / Entry Level: 15.46</strong>\r\n<strong>Stop Loss: 16.12</strong>\r\n<strong>Limit / Target: 14.75</strong>\r\n<strong>Weekly Closing Price: 15.55</strong>\r\n<strong>Position: - 9 pips</strong></p>\r\n<p style=\"text-align: center;\"><strong>FT95</strong>\r\n<strong> USD/SEK</strong>\r\n<strong>Short</strong>\r\n<strong>Cost Average / Entry Level: 6.5796</strong>\r\n<strong>Stop Loss: 6.5897</strong>\r\n<strong>Limit / Target: 6.9100</strong>\r\n<strong>Weekly Closing Price: 6.5945</strong>\r\n<strong>Position: +149 pips</strong></p>\r\n<p style=\"text-align: center;\"><strong> </strong></p>\r\n<strong> </strong>\r\n\r\n<strong>RADAR TRADES:</strong><strong> </strong>\r\n<p style=\"text-align: center;\"><strong>RT56</strong>\r\n<strong>EUR/SEK</strong>\r\n<strong>Long</strong>\r\n<strong>Cost Average / Entry Level: 9.0792</strong>\r\n<strong>Stop Loss: 9.0897</strong>\r\n<strong>Target / Limit: 9.8547</strong>\r\n<strong>Weekly Closing Price: 9.1141</strong>\r\n<strong>Position: +349 pips </strong></p>\r\n<p style=\"text-align: center;\"><strong>RT60</strong>\r\n<strong>EUR/CAD</strong>\r\n<strong>Long</strong>\r\n<strong>Cost Average / Entry Level: 1.5225</strong>\r\n<strong>Stop Loss: 1.4950</strong>\r\n<strong>Target / Limit: 1.6340</strong>\r\n<strong>Weekly Closing Price: 1.5213</strong>\r\n<strong>Position: - 12 pips</strong></p>\r\n<p style=\"text-align: center;\"><strong>RT64</strong>\r\n<strong>USD/NOK</strong>\r\n<strong>Long</strong>\r\n<strong>Cost Average / Entry Level: 5.9694</strong>\r\n<strong>Stop Loss: 5.9459</strong>\r\n<strong>Target / Limit: 6.0257</strong>\r\n<strong>Weekly Closing Price: 5.9841</strong>\r\n<strong>Position: +147 pips</strong></p>\r\n<p style=\"text-align: center;\"><strong> </strong><strong> </strong></p>\r\n<strong>FUNDAMENTAL TRADES:</strong>\r\n<p style=\"text-align: center;\"><strong>FUN14</strong>\r\n<strong> GBP/NZD</strong>\r\n<strong> (This trade is hedged from -150 pips)</strong>\r\n<strong>Long</strong>\r\n<strong>Cost Average: 1.9950</strong>\r\n<strong>Stop Loss: 1.9000</strong>\r\n<strong>Limit / Target: 2.2350</strong>\r\n<strong>Weekly Closing Price: 1.9532</strong>\r\n<strong>Position: -297 pips</strong></p>\r\n<strong> </strong>\r\n\r\n<strong>6. TRADES THAT ARE ON MY RADAR:</strong>\r\n\r\nOn Twitter last Thursday, I provided several trades, I think 9 in total, some of which have not yet triggered, and I stated that I doubted than any more would be added in this blog. This is the case, I have no new ones to enter but I have found a very interesting “Gartley pattern” on the AUD/CAD that may play out and offer a shorting opportunity when the measured move completes. I will talk about this next week in THE DAILY FX POST.\r\n\r\n&nbsp;\r\n<p style=\"text-align: center;\"><strong>AUD/NZD</strong></p>\r\n<p style=\"text-align: center;\"><strong>Long</strong></p>\r\n<p style=\"text-align: center;\"><strong>Enter at 1.0960</strong></p>\r\n<p style=\"text-align: center;\"><strong>Stop Loss at 1.0750</strong></p>\r\n<p style=\"text-align: center;\"><strong>Target / Limit 1.1340</strong></p>\r\n<p style=\"text-align: center;\"><strong> </strong></p>\r\n<p style=\"text-align: center;\"><strong>EUR/AUD</strong></p>\r\n<p style=\"text-align: center;\"><strong>Long</strong></p>\r\n<p style=\"text-align: center;\"><strong>Enter at 1.4850</strong></p>\r\n<p style=\"text-align: center;\"><strong>Stop Loss at 1.4500</strong></p>\r\n<p style=\"text-align: center;\"><strong>Target / Limit 1.6280</strong></p>\r\n<p style=\"text-align: center;\"><strong> </strong></p>\r\n<p style=\"text-align: center;\"><strong>EUR/NOK</strong></p>\r\n<p style=\"text-align: center;\"><strong>Long</strong></p>\r\n<p style=\"text-align: center;\"><strong>Enter at 8.2652</strong></p>\r\n<p style=\"text-align: center;\"><strong>Stop Loss at 8.2532</strong></p>\r\n<p style=\"text-align: center;\"><strong>Target / Limit 8.2994</strong></p>\r\n<p style=\"text-align: center;\"><strong> </strong></p>\r\n<p style=\"text-align: center;\"><strong>AUD/NZD</strong></p>\r\n<p style=\"text-align: center;\"><strong>Long</strong></p>\r\n<p style=\"text-align: center;\"><strong>Enter at 1.0960</strong></p>\r\n<p style=\"text-align: center;\"><strong>Stop Loss at 1.0750</strong></p>\r\n<p style=\"text-align: center;\"><strong>Target / Limit 1.1340</strong></p>\r\n<p style=\"text-align: center;\"><strong> </strong></p>\r\n<p style=\"text-align: center;\"><strong>GBP/CAD</strong></p>\r\n<p style=\"text-align: center;\"><strong>Long</strong></p>\r\n<p style=\"text-align: center;\"><strong>Enter at 1.8440</strong></p>\r\n<p style=\"text-align: center;\"><strong>Stop Loss at 1.8250</strong></p>\r\n<p style=\"text-align: center;\"><strong>Target / Limit 1.8750</strong></p>\r\n<p style=\"text-align: center;\"><strong> </strong></p>\r\n<p style=\"text-align: center;\"><strong>AUD/USD</strong></p>\r\n<p style=\"text-align: center;\"><strong>Short</strong></p>\r\n<p style=\"text-align: center;\"><strong>Enter at 0.9395</strong></p>\r\n<p style=\"text-align: center;\"><strong>Stop Loss at 0.9450</strong></p>\r\n<p style=\"text-align: center;\"><strong>Target / Limit 0.8000</strong></p>\r\n<p style=\"text-align: center;\"><strong> </strong></p>\r\n<p style=\"text-align: center;\"><strong> </strong></p>\r\n<strong>7. LOOKING FORWARD…THE KEY SUPPORT &amp; RESISTANCE LEVELS WITH THE USD MAJORS:</strong>\r\n\r\n<strong>EUR/USD: Closing Price 1.3804.</strong> The rollercoaster ride continues. This pair would try the patience of a saint. I have been short against the 1.3946 highs for what seems like weeks. Ultimately, my fundamental view is that we are heading lower and I believe the next two weeks will be crucial for this pair. Draghi has his nuts getting squeezed in the vice as he is being forced to act on DEFLATION, the problem is the electrodes attached to his testicles from Berlin. The time of verbal intervention is over, if he does f**k all this time it really will be the “Central Banker that cried wolf”. The key levels are support at 1.3700 and resistance at 1.3950.\r\n\r\n<strong>GBP/USD: Closing Price 1.6770. </strong>Is that a triple top at 1.6830-40? If it is, look out below, I think we could be in for a major breakdown back towards 1.6250. The problem is the fact that it is “The Cable”; the king of false breakouts and also false breakdowns. I hate this currency to trade. My average length of a GBP/USD trade must be measured in seconds rather than minutes…never hours or days. Support is at 1.6750 below here and I think that the bulls are in control Resistance is at 1.6840.\r\n\r\n<strong>AUD/USD: Closing Price 0.9326</strong>. This pair I think has soooooooo many people long trying to play out the inverted head and shoulders measured move to 0.9500. There are so many longs it is so well supported. We saw a little chink in the armour towards the end of last week but it has to fall to at least 0.9210 in my opinion for the bears to be back in control; once again. Resistance is at 0.9500.\r\n\r\n<strong>NZD/USD: Closing Price 0.8569</strong>. I am now short once again…I am a glutton for punishment. Did I get short too early? I am short against the recent highs at 0.8750. Support where I think this pair really turns bearish is at 0.8500.\r\n\r\n<strong>USD/CAD: Closing Price 1.0005.</strong> Hurrah…at long last the loonie does a Lazarus and rises from the dead of the 1.08’s. Near term resistance is at 1.1040 and with a break above here 1.1100 comes into play. Support should be good now around 1.0970.\r\n\r\n<strong>USD/CHF: Closing Price 0.8833</strong>. We are once again above 0.8800. Key resistance is at 0.8850 and then 0.8900. My patience being long this pair is finally paying off. Support should be very good back at 0.8800 and then below that figure 0.8750.\r\n\r\n<strong>USD/JPY: Closing Price 102.36. </strong>102.40 is the key upside resistance for this pair and look where we ended the week. 103.00 is next and 101.80 should offer some support should we head lower once again before we hit 101.40.\r\n\r\n<strong> </strong>\r\n\r\n<strong>8. MAJOR FOREX NEWS THIS WEEK THAT INTERESTS ME:</strong>\r\n\r\nSUNDAY: N/A.\r\n\r\nMONDAY: N/A.\r\n\r\nTUESDAY: AUD – CPi.\r\nTUESDAY: CNY – HSBC Flash Manufacturing PMI.\r\n\r\nWEDNESDAY: EUR – German and French Flash Manufacturing PMi.\r\nWEDNESDAY: NZD – RBNZ Rate Statement and Cash Rate.\r\n\r\nTHURSDAY: EUR – German IFO Business Confidence and Draghi speaks.\r\n\r\nFRIDAY: N/A.\r\n\r\n<strong> </strong>\r\n\r\n<strong>9. FINAL THOUGHTS:</strong>\r\n\r\nA little light on major economic data releases this week, which means that we will be at the mercy of the stock markets.\r\n\r\nWe are at major inflection points across all markets so I would recommend that smaller position trade sizes are traded and if you feel like a week off this would not be a bad time to take time out in my opinion. The markets look broken to me but they are holding up very well.\r\n\r\nDo not be complacent in any aspect of your trading at this time. You should only trade within your TRADING PLAN guidelines as per the examples I have written about and posted to the PREMIUM SERVICE trading essentials section of the website. You should at this time, trade smaller position sizes with stops in place that are within the guidelines of your TRADING PLAN. If my stops are too wide for you, reduce your position sizes to stay within your TRADING PLAN guidelines.\r\n\r\nTake care and good luck. Be careful with position sizes.\r\n\r\n&nbsp;\r\n\r\nScott Pickering\r\nThe Pip Accumulator\r\nSaturday April 19th 2014\r\n\r\nEMAIL / FOLLOW ME AT:\r\npremiumservice@weeklyfxdrivethru.com\r\nTwitter: @pipaccumulator\r\nTwitter: @ThePremService\r\nGoogle+/scottpickering\r\n\r\n&nbsp;','IT’S ABOUT TIME THE ECB AND DRAGHI ACTED ON DEFLATION  - THE EUROZONE STATISTICS ARE DREADFUL','','publish','open','closed','','time-ecb-draghi-acted-deflation-eurozone-statistics-dreadful','','','2014-04-19 10:53:19','2014-04-19 15:53:19','',0,'https://weeklyfxdrivethru.com/?post_type=member_posts&#038;p=3511',0,'member_posts','',0),(3471,1,'2014-04-11 15:35:28','2014-04-11 20:35:28','','TRADING AROUND THE NEWS','','inherit','open','closed','','trading-around-the-news','','','2014-04-11 15:35:28','2014-04-11 20:35:28','',0,'https://weeklyfxdrivethru.com/wp-content/uploads/2014/04/TRADING-AROUND-THE-NEWS.pdf',0,'attachment','application/pdf',0),