<p style="text-align: center;"><span style="font-size: 14pt;"><strong>#129 - THE WEEKLY FX DRIVE THRU</strong></span></p>
<p style="text-align: center;"><span style="font-size: 14pt;"><strong>15.11.2014</strong></span></p>
<strong> </strong>
<ol>
	<li><span style="font-size: 12pt;"><strong> INTRODUCTION:</strong></span></li>
</ol>
Thank goodness last week is now finished, completed and put to bed. I personally found it a very difficult week, but, I am not too sure why?

I knew, and blogged in the DAILY FX POST on a couple of occasions, and, tweeted several times about the US dollar index (DXY) being in a consolidation mode working off some USD overbought conditions… and not to expect a USD continuation of the recent move, in fact, that we would consolidate if not pullback.

Being honest, I think that I was trying to force trades, pick tops and pick bottoms on most occasions, struggling to find the best price, then hurriedly exiting trades with small pip gains. Basically, I fell foul of the disciplines in trading that I hold and value. I have severely beaten myself over the head about this and it will not happen again!!

I added some profits to my account, in fact on Friday (yesterday), I added some great scalping trade profits to my broker accounts. Despite a little bit of personal negativity, the PREMIUM SERVICE performance rose again, albeit very modestly based off recent weeks. The way I look at it… a gain is a gain. So, in spite of a lack of trading discipline I still added funds to my broker account balances.

The big news item last week was the USD breakout rejection on Friday. A classic failure, which, I strongly suspect, would have created many losses for institutional and private traders. The USD squeeze was strong and almost instant and it was across the board.

The U.S. retail sale numbers were great, plus there were good consumer sentiment numbers. Gold spiked off lows of the day and that was it, the USD was taken to woodshed. The EUR/USD squeezed from 1.2400 to 1.2540, 140 pips in a very short time frame.

The result was, nice scalping $$$ for me, and a substantial move in most pairs, in fact many pairs that were over-sold are probably going to look over-bought soon. There should be some great trading opportunities after the dust settles. We will have some nice opportunities with the cross-rates soon and for the PREMIUM SERVICE subscribers these pairs, plus many others with set-ups and their charts are in section 4 later in this blog.

One pair that I have not traded recently (in fact, for quite a long, long time) is the USD/JPY. I have only really tackled this pair as a scalping 15-30 pip trade along with the other JPY pairs. It seems only a week or so ago, in fact it was…. That the USD/JPY was trading at 105.00. Blink, we are now at 116.00. I will be trying to place some “skin” in the market on JPY pairs next week.

A couple of PREMIUM SERVICE subscribers have asked me why I am running scared of the JPY.

About four years ago, I was caught across a multiple JPY trade that went off in the wrong direction. I had one trade to complete with a stop and limit, when at the same moment as trying to place this my Internet connection failed. If I recall correctly 3 trades ran down to stops, which by itself was quite a big loss, but the 4<sup>th</sup> that I was unable to load a stop into ran, ran and ran… need I say more.

I now automatically enter trades with a pre-determined stop and limit built in, that I adjust as soon as I can. This is why RISK TOLERANCES, RISK MANAGEMENT, POSITION SIZING, TRADE PLANS etc.; are all so important to me and why the EDUCATION section of the PREMIUM SERVICE website continues to grow. The more articles that I can place there with relevant experiences the better. PLACING STOPS needs to be instant and is crucial to trading success and longevity.

Therefore, this is why I am a reluctant JPY trader.

Looking forward; my fundamental trading ideas moving forward are still intact. I still have my “<strong>PLAN A”</strong> on the table. It is based very simply and primarily on the four bullet points below: -
<ul>
	<li>The end of QE (Quantitative Easing) in the U.S.</li>
	<li>The FED stating that interest rate rises will happen in 2015.</li>
	<li>FED and ECB on divergent monetary policies.</li>
	<li>FED and BOJ on divergent monetary policies.</li>
</ul>
I firmly believe that there are thousands of pips available with the up coming moves. Plus, we have a bonus after the USD failure yesterday that will enable us to enter trades at much better prices.

I am just conscious of the fact that the squeeze lower in the DXY may have legs that could take currencies well out of the current trading ranges.

&nbsp;
<ol start="2">
	<li><strong></strong><strong><span style="font-size: 12pt;"> THE PREMIUM SERVICE: </span></strong>&nbsp;</li>
</ol>
<strong>OVERVIEW, TRADING ACTIVITY, NEWS UPDATE &amp; MONTHLY AND </strong>

<strong>YEAR TO DATE TRADING SUMMARIES:</strong>

&nbsp;

2.1 OVERVIEW:

For new readers who may not be aware, I refer to the PREMIUM SERVICE quite a lot in this blog and for more details about what it is, and, how much it costs, you will need to go the welcome page of <a href="http://www.weeklyfxdrivethru.com">www.weeklyfxdrivethru.com</a> At the top of the page there are three drop down menus: PREMIUM SERVICE, SIGN-UP and DISCLAIMER. Further details and how to join are all contained there. You will need at PayPal account to subscribe.

&nbsp;

2.2 TRADING ACTIVITY:

The past week, even by my own standards was a quiet PREMIUM SERVICE trading week. I had indicated that it would be slower, as the USD took a breath and consolidated its recent trend line breaking moves.

I believe that I was guilty of maybe trying to force a few trades, however, profits were still added to the PREMIUM SERVICE and I took trades off the table in line with my beliefs.

A typical example of this was on Friday (yesterday) after great Retail Sales numbers from the U.S. the USD strengthened. After initial strength the DXY stalled. This tells me something is NOT correct so I advised PREMIUM SERVICE subscribers what I was going to do. I tweeted about it and I took USD longs off the table 1 hour before we saw a failed USD breakout.

I am a cautious trader. The PREMIUM SERVICE will make money, you just have to be patient and pick the correct trades at the right time.

THE PREMIUM SERVICE
Performance - Month to date:

TOTAL CLOSED TRADES             = 28

PROFITABLE TRADES                   = 23 (82% of trades successful)

LOSS MAKING TRADES                = 5 (18% failed trades)

I am very comfortable with my trade ratios.

&nbsp;

2.3 THE PART-TIME TRADER AND THE PREMIUM SERVICE:

In recent times, the number of part-time traders who have subscribed to the PREMIUM SERVICE have been on the increase.

No matter what type of trader you are or style you use, experienced or new to Forex trading I want the PREMIUM SERVICE to be able to offer you something.

I have been asked, if I were the PART-TIME FOREX TRADER subscribing to the PREMIUM SERVICE how would I want it to work for me.

As a PART-TIME trader you may only have opportunities to check your open positions maybe three times a day: -
<ol>
	<li>First thing in the morning (7.00-8.30AM EDT).</li>
	<li>Lunch time (12.00-1.00PM EDT).</li>
	<li>Evening time (7.00-8.30PM EDT).</li>
</ol>
In addition, I have subscribers from all around the world. These times would therefore have to be localized as best as possible.

I have three types of trades; FLASH, RADAR and FUNDAMENTAL. Roughly speaking, FLASH TRADES account for 50% of the trades undertaken. RADAR and FUNDAMENTAL trades make up the other 50% combined, one must also note that many of these trades are cancelled because the market moves away too far from my limit order entry levels

If I were a PART-TIME trader I would ignore FLASH TRADES; quite frankly only look at trades that have limit orders as entries, because I would not be not sitting with my broker account open all day waiting for tweets. However, should a FLASH TRADE present itself when I am looking at twitter or receiving a blog I would take it.

If an expectation is taken away, at least now you are dealing with reality and you trade accordingly. To generate a PART-TIME income from trading Forex is NOT impossible it just takes a disciplined approach.

If you require assistance from me on what size of broker account would fit what type of lot size you could trade, be it MICRO, MINI or STANDARD lots, do not hesitate to contact me. To give you a rough idea: -

MICRO LOT TRADING = minimum $1,000.00 to $5,000.00.

MINI LOT TRADING = minimum $5,000.00 to $20,000.00.

STANDARD LOT TRADING = minimum $20,000.00 onwards.

Inside the PREMIUM SERVICE under the EDUCATION tab you are able to review how to position size, design a TRADING PLAN and learn about RISK TOLERANCE and RISK MANAGEMENT.

From all this realistic trading $$$ goals can be set.

Feel free to contact me with any issues / thoughts that you have on this subject, I will do my utmost to help you.

&nbsp;

2.4 SUBSCRIBING TO THE PREMIUM SERVICE – POINTS TO CONSIDER:

Whilst I cannot guarantee future income to you or even myself through the performance of the PREMIUM SERVICE, I have a vested interest in ensuring an optimum performance.

My website: <a href="http://www.weeklyfxdrivethru.com">www.weeklyfxdrivethru.com</a> contains more data about what the PREMIUM SERVICE is, how it works and what you as a subscriber should expect to receive. Just visit my welcome page, at the top of the page there are drop down menus that will provide more detailed information.

In this section of the blog, I just wanted to highlight some key points to consider.
<ol>
	<li>2014 year to date, for those subscribers who joined on day one, who traded MICRO lots would have traded 462 trades at a cost of $46.20 and earned from those trades $1,002.30. (This exampleis based on single lot trades)If you had traded 3 x MICRO lot trades at a time your cost to trade would have been $138.60 ($46.20 x 3) and from those trades you would have earned $3,006.90 ($1002,30 x 3).

Cost of annual membership of the PREMIUM SERVICE is $400.00.

I would recommend an account with a minimum of $1,000.00 to $5,000.00 balance to trade MICRO lots.</li>
	<li>2014 year to date, for those subscribers who joined on day one, who traded MINI lots would have traded 462 trades at a cost of $462.00 and earned from those trades $10,023.00. (This exampleis based on single lot trades)If you had traded 3 x MINI lot trades at a time your cost to trade would have been $1,386.00 ($462.00 x 3) and from those trades you would have earned $30,06.90 ($10,023.00 x 3).

Cost of annual membership of the PREMIUM SERVICE is $400.00.

I would recommend an account with a minimum of $5,000.00 to $20,000.00 balance to trade MINI lots.</li>
	<li>2014 year to date, for those subscribers who joined on day one, who traded STANDARD lots would have traded 462 trades at a cost of $4,620.00 and earned from those trades $100,240.00. (This exampleis based on single lot trades)If you had traded 3 x STANDARD lot trades at a time your cost to trade would have been $13,860.00 ($4,620.00 x 3) and from those trades you would have earned $300,720.00 ($100,240.00 x 3).

Cost of annual membership of the PREMIUM SERVICE is $400.00.

I would recommend an account with a minimum of $20,000.00 to trade STANDARD lots.</li>
</ol>
It’s all about the size of your broker account and applying RISK MANAGEMENT and a TRADING DISCIPLINE to your trading.

The PREMIUM SERVICE has a growing library of tools in the EDUCATION section to help.

My goal is to search the markets and look at currency charts to identify high probability chart patterns that show me a trade opportunity. I then simply suggest the trade. It is up to you if you take the trade and what size position you place. I can help you 100% with your RISK MANAGEMEMNT and RISK TOLERANCES. All you have to do is ask and I will help. (Email me at: scott@weeklyfxdrivethru.com)

Why not subscribe now and be ready for 2015?

&nbsp;

2.5 FX BROKERS:

Up until the end of 2014 one of my preferred brokers BLACKWELL GLOBAL, is offering a marketing bonus, which you can receive through my relationship agreement with them. The marketing bonus will be credited to your trading account once it is open. Even if you already have a broker account, this is something to consider should you want to open up a separate broker account to track the PREMIUM SERVICE performance separately from your own FX performance.

The MARKETING BONUS is 30% of your opening balance for all accounts opened with $1,000.00 or more subject to a maximum of a $3,000.00 bonus.

To qualify, you must use the BLACKWELL GLOBAL banner on my welcome page at www.weeklyfxdrivethru.com

The process is simple and straightforward. You will require two pieces of identification, one with a photo and one recent utility bill.

Why not look into this some more, subscribe to the PREMIUM SERVICE and open your new Forex Broker Account with a MARKETING BONUS and be ready now for 2015?

If you decide to open a broker account with BLACKWELL GLOBAL – please email me so that I am aware your application is in the pipeline and can monitor it to ensure it is set up correctly. (Email me at: scott@weeklyfxdrivethru.com)

&nbsp;

&nbsp;

2.6 MONTHLY AND YEAR TO DATE TRADING SUMMARIES<strong>:</strong>

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 website.

Below are the excel spreadsheets covering this month so far and the year 2014 to date.

<a href="https://weeklyfxdrivethru.com/wp-content/uploads/2014/11/PREM-SERVICE-PROFITS1-15112014.png"><img class="aligncenter size-full wp-image-4745" src="https://weeklyfxdrivethru.com/wp-content/uploads/2014/11/PREM-SERVICE-PROFITS1-15112014.png" alt="PREM SERVICE PROFITS1 15112014" width="450" height="441" /></a>

&nbsp;

<a href="https://weeklyfxdrivethru.com/wp-content/uploads/2014/11/PREM-SERVICE-PROFITS-2-15112014.png"><img class="aligncenter size-full wp-image-4746" src="https://weeklyfxdrivethru.com/wp-content/uploads/2014/11/PREM-SERVICE-PROFITS-2-15112014.png" alt="PREM SERVICE PROFITS 2 15112014" width="462" height="435" /></a>

&nbsp;

PLEASE NOTE:

The above examples in sections 2.2 and 2.3 are for illustration purposes only. The 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.

Just 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. 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.

The 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.

You must always remember to follow properly executed RISK MANAGEMENT and POSITION SIZING disciplines with all your trades and remember that Forex trading with a high degree of leverage can significantly increase your profits and losses. You should trade with a TRADE PLAN and NOT risk monies that you cannot afford to lose.

<strong> </strong>
<ol start="3">
	<li><span style="font-size: 12pt;"><strong> WHAT’S ON MY MIND:</strong></span></li>
</ol>
<strong>THE FUNDAMENTAL TRADERS OVERVIEW</strong>

<strong> IS CENTRAL BANK DIVERGENCE – GOOD OR BAD FOR FOREX TRADING?</strong>

&nbsp;

I was going to write this week about the USD index and how important the recent trend line break above the 29-year trend line was. This trend line had held the USD (DXY) back from breaking out a couple of weeks ago, and now that it has been broken, I wanted to look at and document from my perspective what the ramifications would be on the markets given this move.

Yesterday (Friday) we had a false breakout. Therefore, my article can be held / kept in suspended animation so to speak for a week or maybe two.

Therefore, I have decided to turn my focus towards Central Banks divergent policies and the fundamental effect that these divergences are having not just in the Forex market but also the ramifications for the broader markets as well.

So, is Central bank divergence good or bad for the Forex market?

In a one-word answer I believe the answer is <strong>YES</strong>. I do think that for the Forex market benefits from divergence between central banks. The reason for a definitive yes is because it gives us a direction in which we know that the market is supported by the central bank regulator.

Looking at just the major central banks that are related to the USD major currency pairs: - FED, ECB, BOJ and BOE.

I think that most people would agree that the financial crash of 2007-8 was a game changer for the financial markets. For the first time ever, the chain of events because of the inter-connectivity of markets was to witness a catastrophic, almost instantaneous reaction across all the continents.

The reaction of the Central banks when trying to pick up the pieces to calm the markets and create stability and credibility was different.

The FED, BOJ and BOE adopted basically a bond-buying programme to essentially keep liquidity flowing along with the printing presses churning out local currency like no-ones business. You may recall “Helicopter Ben” the pictures of Bernanke dropping wads of cash over Wall Street and Chicago. This was called QE (Quantitative Easing).

The BOE called it its Asset Purchase Facility. The BOJ are currently in a QE programme that dwarfs the FED programme that has just completed.

By contrast the ECB went down a different route to create growth, stability in the financial markets. The ECB used Austerity, which basically increased taxes, reduced public services and controlled markets by fiscal means through local EUROZONE governments supported by the ECB.

For six years, we basically knew that the FED in the U.S would support the equity markets. For six years we had a bull market… it is still grinding higher now, albeit more restrained following the completion of QE last month.

Both the FED and BOE now have economies that are moving out of the doldrums. The FED has stopped QE and the BOE is probably going to wait until after the Fed raises interest rates next year before copying

The BOJ is still easing, and in fact, is adding to its QE programme. I see no reason why the USD/JPY should not reach 120.00 or even beyond towards 124.00. (CHARTS LATER FOR PREMIUM SERVICE subscribers).

The ECB failed with Austerity. It may have created stability in the financial markets, but the cost has been zero consumer confidence and lack of economic growth in the EUROZONE, never mind the depression caused across the EUROZONE due to high taxation. In fact it’s so bad that there is DEFLATION in the EUROZONE. Now the ECB is under tremendous pressure from the markets to tackle the lack of growth, DEFLATION and high unemployment, to name but three things.

Six years on the FED and BOE are removing liquidity and the BOJ and ECB are easing more. This is pure and simple central bank divergence

When I first started trading there were quotes at training seminars like “DON’T FIGHT THE FED”. I would go a stage further and say “DON’T FIGHT ANY CENTRAL BANK…they have more money than you”.

The FED is the biggest player in the financial markets by far. Fundamentally, this has to be at the back of your mind when placing trades. I will be giving my spin on limits later in the blog.

We must also bear in mind that Central Banks are like huge oil tankers, to stop and change direction takes time and distance. Central Bank monetary policies are usually in place within 2-3 year plans. This gives the markets directional guidance and stability. Uncertainty is the markets worst enemy along with FEAR and GREED. Therefore, when you examine central bank policy releases, they tend to use the same language and same timelines when discussing policy.

The simplest trades in play right now given central bank monetary policy are: - long the USD and short the JPY.

Breaking it down even further.

The FED is about to raise rates, whilst the ECB is easing and about to ease some more.

Therefore, the trade is short EUR/USD.

The FED is about to raise rates and the BOJ is adding even more asset purchases to its current QE programme.

Therefore the trade would be long USD/JPY.

It is sometimes said that if you entered the two trades above today, switched off your computer and went back and looked again in 6 months time you should be smiling. I am not stating this is what you should do but if the central banks named (FED, BOJ and ECB) want to achieve their goals on monetary policy these trades should work and be profitable.

Even with billions of local currencies involved to support and direct markets we know currencies do not move in a straight line, as we have seen over the past six years when the FED had QE in operation.

What central bank divergence gives us as traders is basically a direction that the central bank wants to move in. From this viewpoint alone, it gives us a trading edge and every piece of the jigsaw that we have should be welcomed with open arms.

<strong> </strong>
<ol start="4">
	<li><span style="font-size: 12pt;"><strong> PREMIUM SERVICE EXCLUSIVE CONTENT:</strong></span></li>
</ol>
(Section 4 is exclusive PREMIUM SERVICE content only available to PREMIUM SERVICE subscribers)

4.1 TRADER TOPICS:

4.2 THE PREMIUM SERVICE CURRENT LIVE TRADES:

4.3 TRADES THAT ARE ON MY RADAR:

4.4 MAJOR TRADING PAIRS WITH LONGER-TERM TRENDS MATCHING:

<strong> </strong>
<ol start="5">
	<li><span style="font-size: 12pt;"><strong> LOOKING FORWARD – THE WEEK AHEAD IN FX:</strong></span></li>
</ol>
&nbsp;

<strong>THE VIEW FROM MY TRADING DESK:</strong><strong> </strong>

&nbsp;

5.1 THE KEY SUPPORT &amp; RESISTANCE LEVELS WITH THE USD MAJORS<strong>:</strong>

<strong>EUR/USD: Closing Price 1.2522.</strong> We closed the week on a fairly frantic move squeeze higher after U.S. data was released. The data was good. I think that the move may have been caused by a few large institutions being poorly positioned going into the weekend. I have no other explanation. I saw GOLD leap higher and spike. In any event we are where we are just above 1.2500. The big question that I have is - are we going to move higher, or do we move lower?. Only the early part of next week will confirm matters to me directionally. The early support and resistance levels that I will be focused on are 1.2465 and 1.2575.<strong> </strong>

<strong>GBP/USD: Closing Price 1.5664</strong>. Up until mid-morning yesterday (Friday 14<sup>th</sup>), this pair looked like it had given up. It was trading so heavy after Carney’s BOE inflation report it looked like 1.5450 was on the cards in my books. The DXY squeeze elevated the pair back up to above 1.5650. Nevertheless a 200 pip move lower in the week has been recorded. My initial thoughts for next week are based around 1.5600 and 1.5700.

<strong>AUD/USD: Closing Price 0.8741</strong>. This pair really squeezed on the DXY move. We closed just below 0.8750, which, for me is a bull / bear line in the sand. If on Sunday night / Monday morning in Europe we blast higher I think that a major retracement is on the cards. My initial levels to watch are therefore 0.8700 and 0.8780.

<strong>NZD/USD: Closing Price 0.7900</strong>. I have very similar thoughts with this pair as I do for the AUD/USD. I think that 0.7860 and 0.7930 are key levels for the early sessions this week.

<strong>USD/CAD: Closing Price 1.1287.</strong> This pair has been my least favourite USD major pair of late. For me, it has just not performed as well as the other commodity pairs. The OIL price is going to influence the CAD moving forward. Continuing price pressure on Oil should see the CAD weaken. It has NOT really moved as far as I thought that it would have done. I was expecting to see 1.1600, but the pair has struggled with 1.1400. Now it looks like we could be looking at 1.1250 again once again. My initial levels to watch out for this week are 1.1250 support and 1.1340 resistance.

<strong>USD/CHF: Closing Price 0.9589</strong>. There is a huge amount of pressure on this pair with the EUR/CHF and GOLD referendum taking place later this month in Switzerland. Breaking out will be a problem with this data hanging over this pair. Personally, I would avoid this pair like the plague until we see resolutions. If you feel that you must trade it be careful. Support is at 0.9540 and resistance 0.9620.

<strong>USD/JPY: Closing Price 116.27. </strong>This pair did not suffer on the DXY squeeze as much as other pairs. I think that it is only a matter of time before we hit 120.00. Initial support this week is at 116.00 and resistance at 116.70.

&nbsp;

5.2 MAJOR FOREX NEWS THIS WEEK THAT INTERESTS ME:
SUNDAY: NZD – Retail Sales.
SUNDAY: JPY – Preliminary GDP.

MONDAY: EUR – Mario Draghi Speaks.
MONDAY: AUD – Monetary Policy Meeting Minutes.

TUESDAY: AUD – Glenn Stevens speaks.
TUESDAY: GBP – CPi.
TUESDAY: EUR – German ZEW Economic Sentiment Figures.

WEDNESDAY: BOJ – Monetary Policy Statement and Press Conference.
WEDNESDAY: USD – FOMC Meeting Minutes.
WEDNESDAY: CNY – HSBC Flash Manufacturing PMi.

THURSDAY: EUR – French and German Flash Manufacturing PMi.
THURSDAY: GBP – Retail Sales.
THURSDAY: USD – Core CPi.

FRIDAY: EUR – Mario Draghi speaks.
FRIDAY: CAD – Core CPi.

<strong> </strong><strong> </strong>
<ol start="6">
	<li><span style="font-size: 12pt;"><strong> ODDS AND ENDS:</strong></span></li>
</ol>
&nbsp;

6.1 SUBSCRIBING TO THE “FREE VERSION” OF THE WEEKLY FX DRIVE THRU:

If you like what you have just read and want to have THE WEEKLY FX DRIVE THRU delivered direct to your email inbox, here is what you do: -

Go to my website: - <a href="http://www.weeklyfxdrivethru.com">www.weeklyfxdrivethru.com</a>

On the right hand side of the welcome page under my bio “about me” there is a blue box titled SUBSCRIBE TO FREE NEWSLETTER, click on profile and add your email address. It is as simple and straightforward as that.

I do NOT sell your email data to anyone…do not worry.

&nbsp;

6.2 THIRD PARTY COMPANIES WITH BANNERS ON MY WEBSITE:

There are a small number of companies with banners on my website. In the interests of full disclosure I have a reciprocal business arrangement with these companies to promote their products.

Unlike many of my competitors, I use the products and services provided by these companies. I will NOT allow any third party on my website unless I am 100% happy that they can back up their promise.

By virtue of the fact, I work with these companies almost daily. I am more than confident to have them advertise on my website.

Any reader who buys products or services from any advertiser via a banner on my website, <a href="http://www.weeklyfxdrivethru.com">www.weeklyfxdrivethru.com</a> will automatically have my help and assistance with any issues that they may have with my partnered advertisers.

<strong> </strong>
<ol start="7">
	<li><span style="font-size: 12pt;"><strong> FINAL THOUGHTS:</strong></span></li>
</ol>
There are some great opportunities to trade coming up this week.

I am cautious as you know, and after the reversal move on Friday, that came out of nowhere has me wondering are we going to see a continued move lower in the USD index (DXY) this week or will it stop and recover with its move back higher?

This coming week therefore, I will be trading small looking to add only as trades become established in the direction that I want. This is the sensible lower risk approach that I will be adopting. As I mentioned last week, fundamentally, nothing much has changed. We are dealing with technical and inter-market relationships that are moving specific pairs and this is pulling other pairs with it. The best example is the relationship between the USD and GOLD. On Friday as GOLD spiked off its lows of the day, it’s relationship with the USD came into play and USD sold off. We have to be conscious of many things as traders and this is a vital constituent.

More so than ever, it is now paramount that you do not forget about RISK MANAGEMENT or your TRADE PLAN. Absolutely not, in fact it is vital that you keep these in mind more so than ever when trading.

Just remember; always use the RISK MANAGEMENT principles outlined in the PREMIUM SERVICE web site to ensure that you do not over-stretch your Forex account. To find this go to the EDUCATION tab and click on the TRADING ESSENTIALS section. Longevity in the Forex market is only achieved through strong TRADING DISCIPLINES that include effective and strategic POSITION SIZING.

Good luck this week and always manage your risk.

&nbsp;

Scott Pickering
The Pip Accumulator
Saturday November 15th 2014

EMAIL / FOLLOW ME AT:
drivethru@weeklyfxdrivethru.com
Twitter: @pipaccumulator
Google+/scottpickering<strong> </strong>

<strong>DISCLAIMER:</strong>

FLASH, RADAR and FUNDAMENTAL trade set-ups, “Tweets” and “Trade ideas” that are posted in my blogs or on Twitter are trades and set-ups that interest me. They are provided for training and informational purposes only and should not be interpreted as an offer, solicitation or recommendation of any specific security or investment strategy. Past performance is not indicative of future results. Trading Forex carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to trade any such leveraged products you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with trading on margin, and seek advice from an independent financial adviser if you have any doubts.