(5318,1,'2015-02-15 06:50:20','2015-02-15 11:50:20','<h3 style=\"text-align: center;\"><strong>THE PREMIUM SERVICE\r\n</strong><strong>(The Home of Single-Lot $$$$ Trading)</strong></h3>\r\n<strong>DATE: 15.02.2015\r\nREFERENCE: #47</strong>\r\n\r\n&nbsp;\r\n<ol>\r\n	<li><strong><span style=\"text-decoration: underline;\"> INTRODUCTION / LOOKING BACK OVER THE PAST WEEK:</span></strong></li>\r\n</ol>\r\nI feel the same as last week by saying “Thank God that last week is over”.\r\n\r\nAnother short squeeze on Thursday last week took away profits earned since the previous squeeze… annoying, painful, frustrating and basically a pain in the arse.\r\n\r\nI wrote to PREMIUM SERVICE subscribers the morning of the latest squeeze that I felt as if the U.S. Retail Sales numbers were going to disappoint and that we should be ready for a spike and then a pullback to the pre news levels. This basically happened and then we had a Greece rumour and oil… the rest is history. A nice commodity currency squeeze, at this point I exited EVERYTHING limit orders 100% flat. I spoke with a couple of subscribers who decided to sit through squeeze 1…. but most of them covered trades in squeeze 2. After the previous week, I just decided to exit 100%, using the often-quoted phrase of “Your first loss is your best loss”. One point I must make is that usually we have a single currency squeeze but the ascendancy of these total market squeezes scares me as the moves are unrelenting, wild, crazy, volatile and they are unforgiving wiping out both long and short traders. It certainly has been a wild ride trading Forex in 2015 so far, and, we are not even at the end of the first quarter.\r\n\r\nThe big news over the past week is the continuing “Mexican Stand-Off” between the New Greek government officials versus the EUROZONE although you could be forgiven for believing that it is Greece versus Germany. This on-going battle over potential debt forgiveness has legs to run. The hospitality service industry is still on RED ALERT in Brussels as they are expecting more meetings. The local cheese mongers and wine boutiques are re-stocking in the full knowledge that the numbers of “Cheese &amp; Wine” hosted events by EUROZONE official’s sees no pullback. In fact, it is the only bloody growth business in Brussels apart from hookers for the MEP’s and EUROZONE officials to pass time with. It’s a tough job, but someone’s got to do it.\r\n\r\nAfter the EUROZONE matter, UKRAINE re-appeared in the news, even though it was always there just not really covered here in North America.\r\n\r\nFrom a Forex perspective the volatility in oil, which, I alluded to earlier, was a huge trading influence, in particular with the CAD, which, seems to be now treated as a proxy for oil.\r\n\r\nBOE Governor Carney, did what was predicted by being hawkish when presenting the quarterly Inflation report, which has created a GBP breakout. The PREMIUM SERVICE is positioned to take advantage of this… trades are in position as I have several limit orders in position to get back into LIVE trading again.\r\n\r\nThe Australian Jobs data last Wednesday were poor and although the AUD initially fell it has bounced back strongly on the back of the aforementioned squeeze and continued higher on the back of U.S. equities posting new highs. It is in fact from the lows post jobs data to highs today a move of 125 pips or so, which, does not sound much but we have a very dovish rate-cutting RBA in play. They will NOT be happy with levels above 0.7700.\r\n\r\nSo, the PREMIUM SERVICE enters next week a little over flat for the month and actually almost on target for 2015. I have LIMIT ORDERS in place plus a few trade ideas in my head that I need to confirm by chart analysis to hopefully capture some nice profitable trades once more. I am hoping that next week I can start off the blog with something other than “Doom and Gloom”.\r\n\r\nTime will tell.\r\n\r\n&nbsp;\r\n<ol start=\"2\">\r\n	<li><strong><span style=\"text-decoration: underline;\"> WHAT’S ON MY MIND: -\r\nTHE FUNDAMENTAL TRADERS OVERVIEW:</span></strong></li>\r\n</ol>\r\n<p style=\"text-align: center;\"><strong>FUNDAMENTALLY, IN SPITE OF RECENT MOVES I AM STILL A USD BULL</strong></p>\r\nLast week I talked about “Merry go-rounds” and “Roller Coasters” and to a large extent I think that we are still at Six Flags, Alton Towers or a Disney Theme Park.\r\n\r\nWhether we are near the end of the ride or about to go and line up again for another thrill-seeking adventure, I wish I knew.\r\n\r\nBut I do know that all markets are still over-stretched and valuations are also being stretched in equities. The constant desire for value in equities and the fact that markets all over the world are instantly accessible, coupled with money flows in or out of a country being instantaneous, means that GREED is driving the ever growing desire for an edge and this GREED is the key driver of increasing volatility. This volatility is best seen right now in Oil and Bonds and general Commodities. It is driving rumours and creating vacuums in flows and when added to the geopolitical events is it any wonder that we have FEAR and GREED dominating matters and for us Forex traders this creates squeezes driven by FEAR and GREED, which have been so volatile, long-lasting and complete washouts of both ends of the trading range suckering both long and short traders and cleaning them out.\r\n\r\nTo be a FOREX trading survivor of this is a credit to your disciplines: -\r\n<p style=\"text-align: center;\"><em>POSITION SIZING\r\n</em><em>RISK MANAGEMENT\r\n</em><em>PLANNING YOUR TRADES and TRADING YOUR PLAN\r\n</em><em>RISK ASSESSMENT</em></p>\r\nI have had six or seven different PREMIUM SERVICE subscribers telling me of their own experiences over the past few days and so far in 2015 overall, in addition, they have asked me about what are my thoughts for the coming weeks and months ahead.\r\n\r\nHave my FUNDAMENTAL views altered?\r\n\r\nThe obvious answer is that if I knew what was about to happen, I would not be writing this blog!\r\n\r\nI gave answers to my subscribers roughly as follows and being able to take time away from charts and price movements to explain in a little more detail is good karma.\r\n\r\nI am FUNDAMENTALLY long the USD for the following basic and straightforward reason: - CENTRAL BANK DIVERGENCES.\r\n\r\nPlus, like it or not when it all comes down to Central Bank policies, lets face it the FED is king. This year whether it be the right thing to do or not the FED is going to raise interest rates in the U.S. They simply CANNOT AFFORD not to, should they back track they will be fu**ed as the markets would never believe another word about their monetary policy statements ever again. It is that simple in my opinion.\r\n\r\nEven with the recent geopolitical data surrounding GREECE and UKRAINE, domestic life in the U.S. goes on and economic data worldwide continues to be released. Whether you believe the released data is another matter. The recent 35% error in employment data in 2014 recently corrected by the Canadian Government being a case in point. Markets move on the data and we have allowed Governments the luxury of corrections the following month. In my eyes this shows poor management and it gives ineffective politicians an excuse. Having said that did anyone in Ottawa get sacked for the unheard of amendment in Canadian data?\r\n<p style=\"text-align: center;\"><strong><em>Here was my tweet on January 29<sup>th</sup> 2015 from @pipaccumulator\r\nCANADA NEEDS ACCOUNTANTS:\r\n</em><em>Canadian labor market added +121.3K jobs in 2014, NOT +185.7K as originally estimated. That\'s a -34.7% revision!</em></strong></p>\r\nMoving back on track….\r\n\r\nThe FED and the BOE with “anyway the winds blow Carney” at the helm are in the raising interest rates camp… THE HAWKS.\r\n\r\nThe BOJ, ECB, RBA, BOC and SNB are on the other side… THE DOVES.\r\n\r\nThe RBNZ as far as I’m concerned, the jury is out… THE NOT QUITE SURE.\r\n\r\nI know that I am re-iterating content that I have used in a similar form before but it is still valid.\r\n\r\nThe markets are basically all about Commodities and Central Banks. It is this relationship that is crucial. Right now there is divergence, my lead indicators are screwed up: -\r\n<p style=\"text-align: center;\"><em>AUD/USD\r\nAUD/JPY\r\n</em><em>USD/CAD\r\n</em><em>GOLD\r\n</em><em>OIL\r\n</em><em>COPPER\r\n</em><em>USD/SEK</em></p>\r\nHowever, the Central Banks still have the power to move markets, some are temporary one is NOT. The FED is the king to direct and move markets domestically and more importantly internationally and therefore this is my overriding key driver for my belief that my FUNDAMENTAL view that I should be biased to being long the USD still holds strong in my decision making process.\r\n\r\nNow…\r\n\r\nNot everything is a straight-line movement; there is intra-day volatility that produces stair steps in the overall direction.\r\n\r\nThe USD index is banging its head on resistance once again looking possibly set to make a run at a triple digit handle. This is HUGE… I mean REALLY HUGE.\r\n\r\nBig support or resistance levels in whatever financial markets you look at create a period of consolidation prior to attempting a breakout or breakdown, thus we are in effect entering ranging markets. As a Forex trader that is what we have today. Just for good measure these extremes also cause the flush outs / squeezes as well, but as stated earlier these I believe are rooted in basic FEAR and GREED. As we all know the two key drivers of the Forex market are FEAR and GREED.\r\n\r\nThe question that I still cannot answer to my PREMIUM SERVICE subscribers that posed it, it for how long do we consolidate and range trade?\r\n\r\nThere are many traders out there having the time of their lives because they have the knack of range trading. I am fecking awful at range trading… I suck.\r\n\r\nAll that said what should one do?\r\n\r\nIn my opinion, I think it is just the core traits of a Forex trader that need to be re-visited and maybe slightly re-aligned for the time being.\r\n\r\nFirstly, manage POSITION SIZES a little below usual sizes. Remember longevity in trading can only be achieved through effective MONEY and RISK MANAGEMENT.\r\n\r\nSecondly, maybe reduce the number of active LIVE TRADES to allow you better management of trades in case you need to adjust.\r\n\r\nThirdly, protect profits earlier than maybe you would do. You can always use the “woulda coulda shoulda” retort to a bad trade, but you should never complain if you are banking $$$$. Isn’t this what trading is about?\r\n\r\n&nbsp;\r\n<ol start=\"3\">\r\n	<li><strong><span style=\"text-decoration: underline;\"> THE PREMIUM SERVICE:\r\n</span></strong></li>\r\n</ol>\r\n<strong><span style=\"text-decoration: underline;\">SUMMARY OF PERFORMANCE:</span></strong>\r\n\r\n<span style=\"text-decoration: underline;\">3.1 OVERVIEW:</span>\r\n\r\nFor 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, PROMOTIONS (if available), SIGN-UP and DISCLAIMER. Further details and how to join are all contained there. You will need at PayPal account to subscribe.\r\n\r\n<span style=\"text-decoration: underline;\">3.2 PREMIUM SERVICE – SUBSCRIPTION COSTS:</span>\r\n\r\nFull details regarding the PREMIUM SERVICE can be found on my website <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a>\r\n\r\nOn the welcome page there are a series of TABS at the top of the page that provide a summary of what the PREMIUM SERVICE is about and what you receive for your subscription.\r\n\r\nTHE 2015 SUBSCRIPTION BREAKDOWN IS AS FOLLOWS: -\r\n\r\n10 weeks - $200.00\r\n20 weeks - $350.00\r\n40 weeks - $500.00\r\n\r\n<span style=\"text-decoration: underline;\">3.3 TRADING REVIEW OF ACTIVITY and SUMMARY OF PERFORMANCE:</span>\r\n\r\nLast week was another bugger of a week. I gave back hard earned profits from losses on the previous weeks squeeze and a bit more with last Thursday’s action. Being positive my action to cut and level all trades when I did was the best decision looking at what has subsequently transpired.\r\n\r\nIn the past seven days there were some great pips earned on the commodity cross-rate pairs to bring my pip profits back in line but sadly as these trades are of a more volatile nature the $$$ value from these trades is not as high as USD major trades so $$$ wise my trading accounts are still behind objective. When you consider that after the squeeze two weeks ago and the SNB day added the PREMIUM SERVICE has had to recover over 1,200 pips. This has been done, now its down to some nice $$$ trades over the next two / three weeks.\r\n\r\nAs I have written before and there are articles inside the PREMIUM SERVICE website under the EDUCATION TAB titled TRADING ESSENTIALS, where you can find pieces that I have added about TRADING CONSISTENCIES.\r\n\r\nFor me it’s now all about still locating the high probability trades, identifying the places of interest for buyers and sellers, looking at Fibonacci levels, pivot points, SMA’s, “Bollinger’s” and horizontal support and resistances placing trades and sending alerts to subscribers so that we can all earn some $$$.\r\n\r\nIn the past week the ratio between profitable trades and loss making trades has not improved due to trades being cut short in the squeezes and my approach of taking losses just to exit the madness. This will improve as the year progresses as I believe that the methods used in the past to identify high probability trades has not left me, it has just been a series of market moving events outside of my control that has given me this blip. On a more positive point, with the pips total coming back it gives me a great base to work from moving forward.\r\n\r\nI should also mention that if you traded just single lot trades as per the PREMIUM SERVICE suggested trade set-ups your trading account would be positive. It is our desire (GREED), to make more $$$ that makes us trade multiple lots of different lot sizes that creates the difference in performance as some lower value lot trades may have the greatest pip gain and the higher value lot trades may have small losses. When you combine the two, you can have pips without $$$. I had this on one account I traded in 2014, by the year-end trades had balanced out and it made a return of 25%, which, is still considerably more than the bank or a typical stock market return\r\n\r\nAs I stated earlier it is not all “Doom and Gloom”, you must take a longer-term view of your trading activity.\r\n\r\nThe usual summary charts detailing the week and year to date performances, are below: -\r\n\r\n<span style=\"text-decoration: underline;\">3.3.1. – PREMIUM SERVICE PROFIT/LOSS RATIOS:</span>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/PROFIT-LOSS-RATIOS-15022015.png\"><img class=\"aligncenter size-full wp-image-5299\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/PROFIT-LOSS-RATIOS-15022015.png\" alt=\"PROFIT-LOSS RATIOS 15022015\" width=\"401\" height=\"572\" /></a>\r\n\r\n<span style=\"text-decoration: underline;\">3.3.2. – PREMIUM SERVICE RISK/REWARD ANALYSIS:</span>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/RISK-REWARD-15022105.png\"><img class=\"aligncenter size-full wp-image-5300\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/RISK-REWARD-15022105.png\" alt=\"RISK-REWARD 15022105\" width=\"420\" height=\"534\" /></a>\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">3.3.3. – PREMIUM SERVICE OVERALL TRADE SUMMARY MONTH &amp; YTD:</span>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/PREM-SERV-PROFITS1-15022015.png\"><img class=\"aligncenter size-full wp-image-5301\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/PREM-SERV-PROFITS1-15022015.png\" alt=\"PREM SERV PROFITS1 15022015\" width=\"452\" height=\"438\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/PREM-SERV-PROFITS2-15022015.png\"><img class=\"aligncenter size-full wp-image-5302\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/PREM-SERV-PROFITS2-15022015.png\" alt=\"PREM SERV PROFITS2 15022015\" width=\"454\" height=\"428\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n<ol start=\"4\">\r\n	<li><strong><span style=\"text-decoration: underline;\"> PREMIUM SERVICE SUBSCRIBER EXCLUSIVE CONTENT:</span></strong></li>\r\n</ol>\r\n(Section 4 is exclusive PREMIUM SERVICE content only available to PREMIUM SERVICE subscribers)\r\n\r\n<span style=\"text-decoration: underline;\">4.1 EDUCATION:\r\n</span>\r\n<h3 style=\"text-align: center;\"><strong>HOW TO PLAN YOUR FOREX TRADE EXITS</strong></h3>\r\nTraders tend to focus a lot of their time and energy on their trade entries. In fact, if you browse through online communities and forums you will notice that the majority of trade discussions revolve around entries.\r\n\r\nWhile it is very important to know how and when to enter a trade, it is equally crucial to know when to exit. Most people have a detailed plan and set of rules on how to enter the market, but newbie traders often overlook the importance of having an exit strategy.\r\n\r\nHere are a few tips on how to develop your exit strategy.\r\n\r\n<strong><em>“Begin with the end in mind”</em></strong>\r\n\r\nEven before you enter a trade, you should already have your exit strategy laid out. Ask yourself the following questions:\r\n\r\n<strong> </strong>\r\n\r\n<strong>1.HOW MUCH ARE YOU WILLING TO RISK?</strong>\r\n\r\nRISK MANAGEMENT is one of the most important aspects of trading. To make money (and avoid losing money), you have to learn how to manage your risk. That’s how you separate traders from gamblers.\r\n\r\nYou should ALWAYS know how much of your account you are putting on the line. Make sure that you only risk an amount that you are comfortable with losing.<strong> </strong>\r\n\r\n&nbsp;\r\n<ol start=\"2\">\r\n	<li><strong> WHERE WILL YOU CUT YOUR LOSSES?</strong></li>\r\n</ol>\r\nProper STOP LOSS PLACEMENT can make or break your trade, so it is something you should consider even before you jump into the market. Make sure you place your stop loss appropriately and give your trade enough room to breathe.<strong> </strong>\r\n\r\n&nbsp;\r\n<ol start=\"3\">\r\n	<li><strong> WHAT EVENTS MAY INVALIDATE YOUR TRADE?</strong></li>\r\n</ol>\r\nTo say that the markets are unpredictable would be an understatement. Unforeseen events always pop up and they often spark a ton of volatility.\r\n\r\nHowever, there are events, which we already know about. Economic reports and speeches by key officials are usually scheduled ahead of time. Their outcomes tend to affect markets in the same way that unforeseen events do. So why not prepare for them?\r\n\r\nAlways know what the market consensus is and the kind of behavior and reaction you should anticipate. Make contingency plans for when an event comes out differently than expected. Most importantly, be prepared to make adjustments to your trade when necessary.\r\n\r\n<strong> </strong>\r\n<ol start=\"4\">\r\n	<li><strong> HOW LONG DO YOU PLAN TO HOLD THE TRADE?</strong></li>\r\n</ol>\r\nFor the record, you don’t necessarily have to set a time limit for your trades. However, it is good to set expectations on how long you will keep a trade open.\r\n\r\nLong-term traders, for example may hold their trades for weeks, months or even years. Usually their trades depend more on fundamental factors that affect markets for longer periods of time. Being conscious of the time would help a swing or position trader keep track of market conditions.\r\n\r\nMeanwhile, short-term traders can benefit from this practice in helping them assess whether a trade idea is still valid or not. Perhaps the consolidation on a particular pair has been going on longer than expected and it may be better to just close your trade early.\r\n\r\nAs you can see, exiting a trade is just as important as pulling the trigger, so put the same amount of time analysis in it. Having a detailed exit strategy will not only keep you from making impulsive trading decisions and keep your emotions in check, but it can help you manage your risk and stay profitable in the long run\r\n\r\nAlways remember to being with the end in mind.\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">4.2 THE PREMIUM SERVICE - EXISTING LIVE TRADES:</span>\r\n\r\nThere are no live trades at the moment.\r\n\r\n<span style=\"text-decoration: underline;\">4.3 THE PREMIUM SERVICE - TRADES THAT ARE ON MY RADAR:</span>\r\n\r\nBelow you will find an excel spreadsheet covering the trades that are currently on my RADAR.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/TRADES-ON-RADAR-15022015.png\"><img class=\"aligncenter size-full wp-image-5304\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/TRADES-ON-RADAR-15022015.png\" alt=\"TRADES ON RADAR 15022015\" width=\"721\" height=\"427\" /></a>\r\n\r\n&nbsp;\r\n\r\nYou will notice that the USD/CHF trade has its reference number removed. This is just to cover us against EUROZONE / GREECE risk before the market opens later tonight. As soon as I re-instate the trade I will advise.\r\n\r\nI am looking to enter the following (FUNDAMENTAL) trades GBP/CAD, GBP/AUD, GBP/NZD and GBP/CHF during the coming week, plus some others.\r\n\r\nAt the end of this written section I have added the relevant charts with my thoughts at this time contained on the actual charts. I have rough set-ups listed as well but these may change as the market unfolds next week.\r\n\r\nDuring the past 48 hours I have had a number of email chats and SKYPE conversations as well as brief Twitter exchanges, regarding the market direction. I hope that the “WHATS ON MY MIND” article in this post will give you the overview that you were looking for. I know it will replicate some of the conversations that I have had, but I think by having the time to explain in more detail in this blog it gives you more “flesh on the bone”.\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/GBPAUD-240M-13022015.png\"><img class=\"aligncenter size-large wp-image-5313\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/GBPAUD-240M-13022015-1024x402.png\" alt=\"GBPAUD 240M 13022015\" width=\"1024\" height=\"402\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/GBPCAD-DAILY-13022015.png\"><img class=\"aligncenter size-large wp-image-5312\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/GBPCAD-DAILY-13022015-1024x402.png\" alt=\"GBPCAD DAILY 13022015\" width=\"1024\" height=\"402\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/GBPCHF-60M-13022015.png\"><img class=\"aligncenter size-large wp-image-5311\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/GBPCHF-60M-13022015-1024x402.png\" alt=\"GBPCHF 60M 13022015\" width=\"1024\" height=\"402\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/GBPNZD-MONTHLY-13022015.png\"><img class=\"aligncenter size-large wp-image-5310\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/GBPNZD-MONTHLY-13022015-1024x402.png\" alt=\"GBPNZD MONTHLY 13022015\" width=\"1024\" height=\"402\" /></a>\r\n\r\n<span style=\"text-decoration: underline;\">PLEASE NOTE:</span>\r\n\r\nRemember position sizes with FUNDAMENTAL TRADES are much smaller than usual. It is only when we can add to positions that the fun begins. I am hoping that with the SSSP you will be able to load in all the future LIMIT ORDERS for these trades. All you have to do when the trades hopefully gain some traction is move your stops.\r\n\r\nThis is why I have a separate broker for FUNDAMENTAL trades. It keeps my categories separate and allows me to spread my cash RISK around a few different brokers.\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">4.4 MAJOR TRADING PAIRS WITH LONGER-TERM TRENDS MATCHING:</span>\r\n\r\nThe following currency pairs have Short Term (DAILY), Medium Term (WEEKLY) and Long Term (MONTHLY) charts all trending in the same direction.\r\n\r\nThis is the second week with no real trending pairs to look at. Whether you find this data interesting or not, the mere fact that so few pairs are featured, you should note that we are at inflection points, when currencies may be changing direction. Alternatively, you may choose to dismiss this data as you feel that the numbers of squeezes have affected the directional trends and these indicators need a few more days to show the real trend again.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/TRENDING-PAIRS-15022015.png\"><img class=\"aligncenter size-full wp-image-5303\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/TRENDING-PAIRS-15022015.png\" alt=\"TRENDING PAIRS 15022015\" width=\"380\" height=\"326\" /></a>\r\n\r\nMy view is weekly and monthly trends should NOT be changed by a squeeze… we should take note.\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">4.5 THE KEY SUPPORT &amp; RESISTANCE LEVELS WITH THE USD MAJORS</span><strong><span style=\"text-decoration: underline;\">:\r\n</span></strong>(This content is now for PREMIUM SERVICE subscribers only, it allows me to refer to existing and future set-ups that form part of the PREMIUM SERVICE subscription)\r\n\r\n<strong>EUR/USD: Closing Price 1.1382.</strong> This week’s close was about 100 pips higher than where we finished last week. I would say that this has surprised many analysts. I am still reading and listening to parity calls with the EUR/USD. I was once a believer of the EUR/USD heading this low, now I am not that confident. I think that the GREECE issue has moved the goalposts. The single currency without GREECE in my opinion may have a strengthening effect on the EUR/USD rather than the weakening effect that the ECB requires. The fact that GREECE is a small country is irrelevant as the level playing field will be no more if they exit and I can see referendums all over those countries who’s populations feel that austerity had done them little good. With this in mind, as I tweeted last week, the present EUROZONE issue is just as much, if not more about GERMANY than it is about GREECE, with some very anxious on-lookers; IRELAND, SPAIN, ITALY and PORTUGAL to name but four. With the GREEK issue front and centre I see support at 1.1250 and resistance at 1.1530.\r\n\r\n<strong>GBP/USD: Closing Price 1.5382</strong>. The cable is in break out territory mode. Above 1.5460, I see a move maybe as high as 1.5600 and then maybe 1.5750. The hawkish tone expressed by BOE Governor Carney when he presented the BOE Inflation Report last week has placed the UK in the same half of the central bank football pitch as the FED. Basically its these two versus the rest, with the RBNZ in the not quite sure department! Support is good at 1.5350 and then 1.500 with the next resistance sitting at 1.5500.<strong> </strong>\r\n\r\n<strong>AUD/USD: Closing Price 0.7746</strong>. Not much in the week on closing prices comparing last week with the week prior. Although in the past week the RBA has cut interest rates, delivered a speech stating that further cuts are not ruled out, and we had poor employment data as well. I think that this week was more about the FED and the DXY and it goes to show that world economic power lies with the Yellen and the FED policy, all other central banks are just there to make up the numbers. The RBA will be disappointed to see the AUD/USD above 0.7700. The range as I see it is from support at 0.7600 to resistance at 0.7850.\r\n\r\n<strong>NZD/USD: Closing Price 0.74389</strong>. This pair is very annoying and I find it frustrating at times to trade. It is still range bound albeit that the range is now a little broader at 0.7310 to 0.7520.\r\n\r\n<strong>USD/CAD: Closing Price 1.2446.</strong> The “loonie” appears to be Oil proxy nowadays and I am not sure that the powers that be in Ottawa are liking it. The USD/CAD is moving in 150-200 pip chunks at a time on a daily basis up then down and then back up again. I am now staying clear until we see a direction with oil. The problem is of course that oil is so heavily speculated upon I doubt for the near future that we will see calm in the oil markets so I guess that volatility with the CAD related pairs will remain. I see the range being 1.2350 to 1.2700\r\n\r\n<strong>USD/CHF: Closing Price 0.9303</strong>. I am starting to get bullish on this pair and have a limit order in the ether to enter long on a small pullback from present levels. The range as I see it is 0.9180 to 0.9350.\r\n\r\n<strong>USD/JPY: Closing Price 118.59. </strong> I successfully traded the USD/JPY to the long side during the past week. I am still totally unsure though which direction this pair is headed. When I think that I have it sorted I take another look and I am doubtful once again. The range is 117.40 to 119.45.\r\n\r\n&nbsp;\r\n<ol start=\"5\">\r\n	<li><strong><span style=\"text-decoration: underline;\"> THE WEEK AHEAD: -\r\nWHAT AM I THINKING &amp; WHAT AM I LOOKING AT?</span></strong></li>\r\n</ol>\r\n<span style=\"text-decoration: underline;\">5.1 SUBSCRIBING TO THE “FREE VERSION” OF THE WEEKLY FX DRIVE THRU:</span>\r\n\r\nIf you like what you have almost completed reading and want to have THE WEEKLY FX DRIVE THRU delivered direct to your email inbox next week, here is what you do: -\r\n\r\nGo to my website: - <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a>\r\n\r\nOn 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.\r\n\r\nI do NOT sell your email data to anyone…do not worry.\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">5.2 MAJOR FOREX NEWS THIS WEEK THAT INTERESTS ME:</span>\r\nSUNDAY: NZD – Retail Sales.\r\n\r\nMONDAY: AUD – Monetary Policy Meeting Minutes.\r\nMONDAY: EUR – EUROGROUP meetings.\r\n\r\nTUESDAY: GBP - CPi.\r\nTUESDAY: EUR – German ZEW Economic Sentiment.\r\nTUESDAY: NZD – Dairy Auction Prices.\r\n\r\nWEDNESDAY: GBP – Employment Data.\r\nWEDNESDAY: USD – FOMC Meeting Minutes.\r\n\r\nTHURSDAY: N/A.\r\n\r\nFRIDAY: EUR – French and German Flash Manufacturing PMi.\r\nFRIDAY: GBP – Retail Sales.\r\nFRIDAY: CAD – Core Retail Sales.\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">5.3 FINAL THOUGHTS / CLOSING COMMENTS:</span>\r\n\r\nI think that GREECE and the EUROZONE will be the dominant news factors this coming week.\r\n\r\nAs I always say with all events EUROZONE watch out for the sound-bytes from the many politicians and hangers-on who just love their 30 seconds of fame.\r\n\r\nBe careful of Nowotny and Schaeuble, they are pains in the ass for liking the sounds of their own voices, even if what they say is utter boll**ks or bulls**t.\r\n\r\nThere will be trades to trade and there will be some great opportunities, please trade in line with your RISK MANAGEMENT parameters from your TRADING PLAN. If you do not have a TRADE PLAN, in my opinion, you should, as this will help you with consistency.\r\n<p style=\"text-align: center;\"><strong>Consistency = longevity in trading and that is a critical goal.\r\nIT IS THE KEY MEASUREMENT</strong></p>\r\nBefore you enter a trade work out the risk, price it in $$$. Place your stop accordingly. PREMIUM SERVICE subscribers have a full library of information on RISK MANAGEMENT, RISK TOLERANCES and POSITION SIZING etc. available for reference 24x7.\r\n\r\nTake care.\r\n\r\nScott Pickering\r\nThe Pip Accumulator\r\nSunday February 15th 2015\r\n\r\nEMAIL / FOLLOW ME AT:\r\npremiumservice@weeklyfxdrivethru.com\r\nTwitter: @pipaccumulator\r\nTwitter: @ThePremService\r\n<span style=\"line-height: 1.5;\">Google+/scottpickering\r\n</span>Tumblr: thepipaccumulator\r\n\r\n&nbsp;\r\n\r\n<strong><span style=\"text-decoration: underline;\">DISCLAIMER &amp; OTHER DATA:</span></strong>\r\n\r\n<span style=\"text-decoration: underline;\">THIRD PARTY COMPANIES WITH BANNERS ON MY WEBSITE:</span>\r\n\r\nThere 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.\r\n\r\nUnlike 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.\r\n\r\nBy virtue of the fact, I work with these companies almost daily. I am more than confident to have them advertise on my website.\r\n\r\nAny 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.\r\n\r\n<span style=\"text-decoration: underline;\">TRADING &amp; PERFORMANCES DISCLAIMER:</span>\r\n\r\nFLASH, 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.','FUNDAMENTALLY, IN SPITE OF RECENT MOVES I AM STILL A USD BULL','','inherit','open','closed','','5315-revision-v1','','','2015-02-15 06:50:20','2015-02-15 11:50:20','',5315,'https://weeklyfxdrivethru.com/5315-revision-v1/',0,'revision','',0),(5319,1,'2015-02-15 07:12:34','2015-02-15 12:12:34','<h3 style=\"text-align: center;\"><strong>THE WEEKLY FX DRIVE THRU\r\n</strong><strong>and\r\n</strong><strong>THE PREMIUM SERVICE\r\n</strong><strong>(The Home of Single-Lot $$$$ Trading)</strong></h3>\r\n<strong>DATE: 15.02.2015\r\nREFERENCE: #139\r\n</strong><strong>BLOG VERSION: THE WEEKLY FX DRIVE THRU</strong>\r\n\r\n&nbsp;\r\n<ol>\r\n	<li><strong><span style=\"text-decoration: underline;\"> INTRODUCTION / LOOKING BACK OVER THE PAST WEEK:</span></strong></li>\r\n</ol>\r\nI feel the same as last week by saying “Thank God that last week is over”.\r\n\r\nAnother short squeeze on Thursday last week took away profits earned since the previous squeeze… annoying, painful, frustrating and basically a pain in the arse.\r\n\r\nI wrote to PREMIUM SERVICE subscribers the morning of the latest squeeze that I felt as if the U.S. Retail Sales numbers were going to disappoint and that we should be ready for a spike and then a pullback to the pre news levels. This basically happened and then we had a Greece rumour and oil… the rest is history. A nice commodity currency squeeze, at this point I exited EVERYTHING limit orders 100% flat. I spoke with a couple of subscribers who decided to sit through squeeze 1…. but most of them covered trades in squeeze 2. After the previous week, I just decided to exit 100%, using the often-quoted phrase of “Your first loss is your best loss”. One point I must make is that usually we have a single currency squeeze but the ascendancy of these total market squeezes scares me as the moves are unrelenting, wild, crazy, volatile and they are unforgiving wiping out both long and short traders. It certainly has been a wild ride trading Forex in 2015 so far, and, we are not even at the end of the first quarter.\r\n\r\nThe big news over the past week is the continuing “Mexican Stand-Off” between the New Greek government officials versus the EUROZONE although you could be forgiven for believing that it is Greece versus Germany. This on-going battle over potential debt forgiveness has legs to run. The hospitality service industry is still on RED ALERT in Brussels as they are expecting more meetings. The local cheese mongers and wine boutiques are re-stocking in the full knowledge that the numbers of “Cheese &amp; Wine” hosted events by EUROZONE official’s sees no pullback. In fact, it is the only bloody growth business in Brussels apart from hookers for the MEP’s and EUROZONE officials to pass time with. It’s a tough job, but someone’s got to do it.\r\n\r\nAfter the EUROZONE matter, UKRAINE re-appeared in the news, even though it was always there just not really covered here in North America.\r\n\r\nFrom a Forex perspective the volatility in oil, which, I alluded to earlier, was a huge trading influence, in particular with the CAD, which, seems to be now treated as a proxy for oil.\r\n\r\nBOE Governor Carney, did what was predicted by being hawkish when presenting the quarterly Inflation report, which has created a GBP breakout. The PREMIUM SERVICE is positioned to take advantage of this… trades are in position as I have several limit orders in position to get back into LIVE trading again.\r\n\r\nThe Australian Jobs data last Wednesday were poor and although the AUD initially fell it has bounced back strongly on the back of the aforementioned squeeze and continued higher on the back of U.S. equities posting new highs. It is in fact from the lows post jobs data to highs today a move of 125 pips or so, which, does not sound much but we have a very dovish rate-cutting RBA in play. They will NOT be happy with levels above 0.7700.\r\n\r\nSo, the PREMIUM SERVICE enters next week a little over flat for the month and actually almost on target for 2015. I have LIMIT ORDERS in place plus a few trade ideas in my head that I need to confirm by chart analysis to hopefully capture some nice profitable trades once more. I am hoping that next week I can start off the blog with something other than “Doom and Gloom”.\r\n\r\nTime will tell.\r\n\r\n&nbsp;\r\n<ol start=\"2\">\r\n	<li><strong><span style=\"text-decoration: underline;\"> WHAT’S ON MY MIND: -\r\nTHE FUNDAMENTAL TRADERS OVERVIEW:</span></strong></li>\r\n</ol>\r\n<p style=\"text-align: center;\"><strong>FUNDAMENTALLY, IN SPITE OF RECENT MOVES I AM STILL A USD BULL</strong></p>\r\nLast week I talked about “Merry go-rounds” and “Roller Coasters” and to a large extent I think that we are still at Six Flags, Alton Towers or a Disney Theme Park.\r\n\r\nWhether we are near the end of the ride or about to go and line up again for another thrill-seeking adventure, I wish I knew.\r\n\r\nBut I do know that all markets are still over-stretched and valuations are also being stretched in equities. The constant desire for value in equities and the fact that markets all over the world are instantly accessible, coupled with money flows in or out of a country being instantaneous, means that GREED is driving the ever growing desire for an edge and this GREED is the key driver of increasing volatility. This volatility is best seen right now in Oil and Bonds and general Commodities. It is driving rumours and creating vacuums in flows and when added to the geopolitical events is it any wonder that we have FEAR and GREED dominating matters and for us Forex traders this creates squeezes driven by FEAR and GREED, which have been so volatile, long-lasting and complete washouts of both ends of the trading range suckering both long and short traders and cleaning them out.\r\n\r\nTo be a FOREX trading survivor of this is a credit to your disciplines: -\r\n<p style=\"text-align: center;\"><em>POSITION SIZING\r\n</em><em>RISK MANAGEMENT\r\n</em><em>PLANNING YOUR TRADES and TRADING YOUR PLAN\r\n</em><em>RISK ASSESSMENT</em></p>\r\nI have had six or seven different PREMIUM SERVICE subscribers telling me of their own experiences over the past few days and so far in 2015 overall, in addition, they have asked me about what are my thoughts for the coming weeks and months ahead.\r\n\r\nHave my FUNDAMENTAL views altered?\r\n\r\nThe obvious answer is that if I knew what was about to happen, I would not be writing this blog!\r\n\r\nI gave answers to my subscribers roughly as follows and being able to take time away from charts and price movements to explain in a little more detail is good karma.\r\n\r\nI am FUNDAMENTALLY long the USD for the following basic and straightforward reason: - CENTRAL BANK DIVERGENCES.\r\n\r\nPlus, like it or not when it all comes down to Central Bank policies, lets face it the FED is king. This year whether it be the right thing to do or not the FED is going to raise interest rates in the U.S. They simply CANNOT AFFORD not to, should they back track they will be fu**ed as the markets would never believe another word about their monetary policy statements ever again. It is that simple in my opinion.\r\n\r\nEven with the recent geopolitical data surrounding GREECE and UKRAINE, domestic life in the U.S. goes on and economic data worldwide continues to be released. Whether you believe the released data is another matter. The recent 35% error in employment data in 2014 recently corrected by the Canadian Government being a case in point. Markets move on the data and we have allowed Governments the luxury of corrections the following month. In my eyes this shows poor management and it gives ineffective politicians an excuse. Having said that did anyone in Ottawa get sacked for the unheard of amendment in Canadian data?\r\n<p style=\"text-align: center;\"><strong><em>Here was my tweet on January 29<sup>th</sup> 2015 from @pipaccumulator\r\nCANADA NEEDS ACCOUNTANTS:\r\n</em><em>Canadian labor market added +121.3K jobs in 2014, NOT +185.7K as originally estimated. That\'s a -34.7% revision!</em></strong></p>\r\nMoving back on track….\r\n\r\nThe FED and the BOE with “anyway the winds blow Carney” at the helm are in the raising interest rates camp… THE HAWKS.\r\n\r\nThe BOJ, ECB, RBA, BOC and SNB are on the other side… THE DOVES.\r\n\r\nThe RBNZ as far as I’m concerned, the jury is out… THE NOT QUITE SURE.\r\n\r\nI know that I am re-iterating content that I have used in a similar form before but it is still valid.\r\n\r\nThe markets are basically all about Commodities and Central Banks. It is this relationship that is crucial. Right now there is divergence, my lead indicators are screwed up: -\r\n<p style=\"text-align: center;\"><em>AUD/USD\r\nAUD/JPY\r\n</em><em>USD/CAD\r\n</em><em>GOLD\r\n</em><em>OIL\r\n</em><em>COPPER\r\n</em><em>USD/SEK</em></p>\r\nHowever, the Central Banks still have the power to move markets, some are temporary one is NOT. The FED is the king to direct and move markets domestically and more importantly internationally and therefore this is my overriding key driver for my belief that my FUNDAMENTAL view that I should be biased to being long the USD still holds strong in my decision making process.\r\n\r\nNow…\r\n\r\nNot everything is a straight-line movement; there is intra-day volatility that produces stair steps in the overall direction.\r\n\r\nThe USD index is banging its head on resistance once again looking possibly set to make a run at a triple digit handle. This is HUGE… I mean REALLY HUGE.\r\n\r\nBig support or resistance levels in whatever financial markets you look at create a period of consolidation prior to attempting a breakout or breakdown, thus we are in effect entering ranging markets. As a Forex trader that is what we have today. Just for good measure these extremes also cause the flush outs / squeezes as well, but as stated earlier these I believe are rooted in basic FEAR and GREED. As we all know the two key drivers of the Forex market are FEAR and GREED.\r\n\r\nThe question that I still cannot answer to my PREMIUM SERVICE subscribers that posed it, it for how long do we consolidate and range trade?\r\n\r\nThere are many traders out there having the time of their lives because they have the knack of range trading. I am fecking awful at range trading… I suck.\r\n\r\nAll that said what should one do?\r\n\r\nIn my opinion, I think it is just the core traits of a Forex trader that need to be re-visited and maybe slightly re-aligned for the time being.\r\n\r\nFirstly, manage POSITION SIZES a little below usual sizes. Remember longevity in trading can only be achieved through effective MONEY and RISK MANAGEMENT.\r\n\r\nSecondly, maybe reduce the number of active LIVE TRADES to allow you better management of trades in case you need to adjust.\r\n\r\nThirdly, protect profits earlier than maybe you would do. You can always use the “woulda coulda shoulda” retort to a bad trade, but you should never complain if you are banking $$$$. Isn’t this what trading is about?\r\n\r\n&nbsp;\r\n<ol start=\"3\">\r\n	<li><strong><span style=\"text-decoration: underline;\"> THE PREMIUM SERVICE:</span></strong></li>\r\n</ol>\r\n<strong><span style=\"text-decoration: underline;\">SUMMARY OF PERFORMANCE:</span></strong>\r\n\r\n<span style=\"text-decoration: underline;\">3.1 OVERVIEW:</span>\r\n\r\nFor 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, PROMOTIONS (if available), SIGN-UP and DISCLAIMER. Further details and how to join are all contained there. You will need at PayPal account to subscribe.\r\n\r\n<span style=\"text-decoration: underline;\">3.2 PREMIUM SERVICE – SUBSCRIPTION COSTS:</span>\r\n\r\nFull details regarding the PREMIUM SERVICE can be found on my website <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a>\r\n\r\nOn the welcome page there are a series of TABS at the top of the page that provide a summary of what the PREMIUM SERVICE is about and what you receive for your subscription.\r\n\r\nTHE 2015 SUBSCRIPTION BREAKDOWN IS AS FOLLOWS: -\r\n\r\n10 weeks - $200.00\r\n20 weeks - $350.00\r\n40 weeks - $500.00\r\n\r\n<span style=\"text-decoration: underline;\">3.3 TRADING REVIEW OF ACTIVITY and SUMMARY OF PERFORMANCE:</span>\r\n\r\nLast week was another bugger of a week. I gave back hard earned profits from losses on the previous weeks squeeze and a bit more with last Thursday’s action. Being positive my action to cut and level all trades when I did was the best decision looking at what has subsequently transpired.\r\n\r\nIn the past seven days there were some great pips earned on the commodity cross-rate pairs to bring my pip profits back in line but sadly as these trades are of a more volatile nature the $$$ value from these trades is not as high as USD major trades so $$$ wise my trading accounts are still behind objective. When you consider that after the squeeze two weeks ago and the SNB day added the PREMIUM SERVICE has had to recover over 1,200 pips. This has been done, now its down to some nice $$$ trades over the next two / three weeks.\r\n\r\nAs I have written before and there are articles inside the PREMIUM SERVICE website under the EDUCATION TAB titled TRADING ESSENTIALS, where you can find pieces that I have added about TRADING CONSISTENCIES.\r\n\r\nFor me it’s now all about still locating the high probability trades, identifying the places of interest for buyers and sellers, looking at Fibonacci levels, pivot points, SMA’s, “Bollinger’s” and horizontal support and resistances placing trades and sending alerts to subscribers so that we can all earn some $$$.\r\n\r\nIn the past week the ratio between profitable trades and loss making trades has not improved due to trades being cut short in the squeezes and my approach of taking losses just to exit the madness. This will improve as the year progresses as I believe that the methods used in the past to identify high probability trades has not left me, it has just been a series of market moving events outside of my control that has given me this blip. On a more positive point, with the pips total coming back it gives me a great base to work from moving forward.\r\n\r\nI should also mention that if you traded just single lot trades as per the PREMIUM SERVICE suggested trade set-ups your trading account would be positive. It is our desire (GREED), to make more $$$ that makes us trade multiple lots of different lot sizes that creates the difference in performance as some lower value lot trades may have the greatest pip gain and the higher value lot trades may have small losses. When you combine the two, you can have pips without $$$. I had this on one account I traded in 2014, by the year-end trades had balanced out and it made a return of 25%, which, is still considerably more than the bank or a typical stock market return.\r\n\r\nAs I stated earlier it is not all “Doom and Gloom”, you must take a longer-term view of your trading activity.\r\n\r\nThe usual summary charts detailing the week and year to date performances, are below: -\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">3.3.1. – PREMIUM SERVICE PROFIT/LOSS RATIOS:</span>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/PROFIT-LOSS-RATIOS-15022015.png\"><img class=\"aligncenter size-full wp-image-5299\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/PROFIT-LOSS-RATIOS-15022015.png\" alt=\"PROFIT-LOSS RATIOS 15022015\" width=\"401\" height=\"572\" /></a>\r\n\r\n<span style=\"text-decoration: underline;\">3.3.2. – PREMIUM SERVICE RISK/REWARD ANALYSIS:</span>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/RISK-REWARD-15022105.png\"><img class=\"aligncenter size-full wp-image-5300\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/RISK-REWARD-15022105.png\" alt=\"RISK-REWARD 15022105\" width=\"420\" height=\"534\" /></a>\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">3.3.3. – PREMIUM SERVICE OVERALL TRADE SUMMARY MONTH &amp; YTD:</span>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/PREM-SERV-PROFITS1-15022015.png\"><img class=\"aligncenter size-full wp-image-5301\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/PREM-SERV-PROFITS1-15022015.png\" alt=\"PREM SERV PROFITS1 15022015\" width=\"452\" height=\"438\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/PREM-SERV-PROFITS2-15022015.png\"><img class=\"aligncenter size-full wp-image-5302\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/PREM-SERV-PROFITS2-15022015.png\" alt=\"PREM SERV PROFITS2 15022015\" width=\"454\" height=\"428\" /></a>\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">3.4 THE PREMIUM SERVICE – 2015 PROMOTION:</span><strong> </strong>\r\n<p style=\"text-align: center;\"><span style=\"color: #ff0000;\"><strong>PLEASE NOTE THAT THERE ARE ONLY TWO WEEKS LEFT\r\n</strong><strong>THE PROMOTION EXPIRES IN TWO WEEKS</strong></span></p>\r\nKeeping your PREMIUM SERVICE trades separate from your own trades can give you an instant direct performance comparison.\r\n\r\nIf you open a separate account with any of my trading partners / preferred brokers CWMFX, AvaTrade or Blackwell Global, you will be eligible for “BONUS WEEKS” to be added to your subscription.\r\n\r\nThis is in addition to the account-opening bonuses for new clients offered by AvaTrade, (see their website www.avatrade.com for full details), or, Blackwell Global (contact me directly for bonus details)\r\n\r\nThe promotion also applies to CWMFX accounts as well. They offer very tight rate spreads as an alternative to account opening bonuses offered by AvaTrade and Blackwell Global.\r\n\r\nIf you intend to be or are a longer-term position style trader only looking at your computer once a day tight rate spreads may not be as important to you and as such, the AvaTrade or Blackwell Global bonus may be more appealing to you.\r\n\r\nConversely, if you intend to be a more active trader the CWMFX tight rate spreads will be of more interest.\r\n\r\nThe choice is yours.\r\n\r\nThis promotion with my associated trading partners will expire of Saturday 28th\r\n\r\nFebruary 2015…it is really very limited: -\r\n<ol>\r\n	<li><strong>Subscribe to the PREMIUM SERVICE:</strong></li>\r\n</ol>\r\nYou will need to go to the welcome page of my website <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a>\r\n\r\nClick on the sign-up tab at the top of the page.\r\n\r\n2015 PREMIUM SERVICE SUBSCRIPTION RATES\r\n\r\n10 weeks = $200.00\r\n20 weeks = $350.00\r\n40 weeks = $500.00 (full year / annual subscription)\r\n\r\nNOTE: I limit my trading during periods of thin liquidity such as Christmas / New Year and Late July / August summer vacation times.\r\n\r\nHence, 40 weeks is equal to an annual subscription.\r\n<ol start=\"2\">\r\n	<li><strong>Open a LIVE account clicking on the “BANNER” of the broker of your choice on my website.</strong></li>\r\n</ol>\r\nThis will enable you to achieve a trading bonus direct from AvaTrade or BLACKWELL GLOBAL or opt for the tight rate spreads from CWMFX.\r\n\r\nFor Blackwell Global advise me of what you are doing and I will guide you through the process.\r\n\r\nAll the banners are on the welcome page of my website\r\n\r\nwww.weeklyfxdrivethru.com\r\n<ol start=\"3\">\r\n	<li><strong>PREMIUM SERVICE – BONUS WEEKS PROMOTION:</strong></li>\r\n</ol>\r\nOnce the LIVE trading account is confirmed and funded, I will extended\r\n\r\nPREMIUM SERVICE subscription periods as follows after you have advised me what you have done via email at <a href=\"mailto:premiumservice@weeklyfxdrivethru.com\">premiumservice@weeklyfxdrivethru.com</a>: -\r\n<p style=\"text-align: center;\"><span style=\"color: #0000ff;\"><strong>10-week subscriptions will receive a bonus of 5 weeks (15 weeks total)</strong></span>\r\n<span style=\"color: #0000ff;\"><strong>Your subscription would be equivalent to $13.33 per week.</strong></span></p>\r\n<p style=\"text-align: center;\"><span style=\"color: #0000ff;\"><strong>20-week subscriptions will receive a bonus of 10 weeks (30 weeks total)</strong></span>\r\n<span style=\"color: #0000ff;\"><strong>Your subscription would be equivalent to $11.66 per week.</strong></span></p>\r\n<p style=\"text-align: center;\"><span style=\"color: #0000ff;\"><strong>40-week subscriptions will receive a bonus of 20 weeks (60 weeks total)</strong></span>\r\n<span style=\"color: #0000ff;\"><strong>Your subscription would be equivalent to $8.33 per week.</strong></span></p>\r\nThis promotion represents the best offer that I have participated in and has an unbelievable value. It is simply the best that I have ever promoted and is a great way to start trading in 2015.\r\n\r\nIt would hopefully be the start of a very profitable relationship together.\r\n<ol start=\"4\">\r\n	<li><strong>PLEASE NOTE: - THE FOLLOWING CONDITIONS TO THE PROMOTION:</strong></li>\r\n</ol>\r\nOnly broker accounts opened via the banner on my website www.weeklyfxdrivethru.com are accepted for the PREMIUM SERVICE BONUS WEEKS PROMOTION.\r\n\r\nFor the “BONUS WEEKS PROMOTION” in subscription weeks to the\r\n\r\nPREMIUM SERVICE to remain intact you must meet the AvaTrade, Blackwell Global or CWMFX requirements for operating your broker account. Should your account with AvaTrade, Blackwell Global or CWMFX cease to be valid and close the “BONUS WEEKS” segment of the PREMIUM SERVICE promotion will also be withdrawn.\r\n\r\nThis PREMIUM SERVICE “BONUS WEEKS PROMOTION” is only available with this offer and is 100% linked to the AvaTrade, Blackwell Global or CWMFX LIVE accounts being opened via the banners on the welcome page of my website www.weeklyfxdrivethru.com\r\n\r\n&nbsp;\r\n<ol start=\"4\">\r\n	<li><strong><span style=\"text-decoration: underline;\"> PREMIUM SERVICE SUBSCRIBER EXCLUSIVE CONTENT:</span></strong></li>\r\n</ol>\r\n(Section 4 is exclusive PREMIUM SERVICE content only available to PREMIUM SERVICE subscribers)\r\n\r\n<span style=\"text-decoration: underline;\">4.1 EDUCATION:\r\n</span>\r\n\r\n<span style=\"text-decoration: underline;\">4.2 THE PREMIUM SERVICE - EXISTING LIVE TRADES:</span>\r\n\r\n<span style=\"text-decoration: underline;\">4.3 THE PREMIUM SERVICE - TRADES THAT ARE ON MY RADAR:</span>\r\n\r\n<span style=\"text-decoration: underline;\">4.4 MAJOR TRADING PAIRS WITH LONGER-TERM TRENDS MATCHING:</span>\r\n\r\n<span style=\"text-decoration: underline;\">4.5 THE KEY SUPPORT &amp; RESISTANCE LEVELS WITH THE USD MAJORS</span><strong><span style=\"text-decoration: underline;\">:</span></strong>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n<ol start=\"5\">\r\n	<li><strong><span style=\"text-decoration: underline;\"> THE WEEK AHEAD: -\r\nWHAT AM I THINKING &amp; WHAT AM I LOOKING AT?</span></strong></li>\r\n</ol>\r\n<span style=\"text-decoration: underline;\">5.1 MAJOR FOREX NEWS THIS WEEK THAT INTERESTS ME:</span>\r\n\r\nSUNDAY: NZD – Retail Sales.\r\n\r\nMONDAY: AUD – Monetary Policy Meeting Minutes.\r\nMONDAY: EUR – EUROGROUP meetings.\r\n\r\nTUESDAY: GBP - CPi.\r\nTUESDAY: EUR – German ZEW Economic Sentiment.\r\nTUESDAY: NZD – Dairy Auction Prices.\r\n\r\nWEDNESDAY: GBP – Employment Data.\r\nWEDNESDAY: USD – FOMC Meeting Minutes.\r\n\r\nTHURSDAY: N/A.\r\n\r\nFRIDAY: EUR – French and German Flash Manufacturing PMi.\r\nFRIDAY: GBP – Retail Sales.\r\nFRIDAY: CAD – Core Retail Sales.\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">5.2 FINAL THOUGHTS / CLOSING COMMENTS:</span>\r\n\r\nI think that GREECE and the EUROZONE will be the dominant news factors this coming week.\r\n\r\nAs I always say with all events EUROZONE watch out for the sound-bytes from the many politicians and hangers-on who just love their 30 seconds of fame.\r\n\r\nBe careful of Nowotny and Schaeuble, they are pains in the ass for liking the sounds of their own voices, even if what they say is utter boll**ks or bulls**t.\r\n\r\nThere will be trades to trade and there will be some great opportunities, please trade in line with your RISK MANAGEMENT parameters from your TRADING PLAN. If you do not have a TRADE PLAN, in my opinion, you should, as this will help you with consistency.\r\n<p style=\"text-align: center;\"><strong>Consistency = longevity in trading and that is a critical goal.\r\nIT IS THE KEY MEASUREMENT</strong></p>\r\nBefore you enter a trade work out the risk, price it in $$$. Place your stop accordingly. PREMIUM SERVICE subscribers have a full library of information on RISK MANAGEMENT, RISK TOLERANCES and POSITION SIZING etc. available for reference 24x7.\r\n\r\nTake care.\r\n\r\nScott Pickering\r\nThe Pip Accumulator\r\nSunday February 15th 2015\r\n\r\nEMAIL / FOLLOW ME AT:\r\ndrivethru@weeklyfxdrivethru.com\r\nTwitter: @pipaccumulator\r\n<span style=\"line-height: 1.5;\">Google+/scottpickering\r\n</span>Tumblr: thepipaccumulator\r\n\r\n&nbsp;\r\n\r\n<strong><span style=\"text-decoration: underline;\">DISCLAIMER &amp; OTHER DATA:</span></strong>\r\n\r\n<span style=\"text-decoration: underline;\">SUBSCRIBING TO THE “FREE VERSION” OF THE WEEKLY FX DRIVE THRU:</span>\r\n\r\nIf you like what you have almost completed reading and want to have THE WEEKLY FX DRIVE THRU delivered direct to your email inbox next week, here is what you do: -\r\n\r\nGo to my website: - <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a>\r\n\r\nOn 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.\r\n\r\nI do NOT sell your email data to anyone…do not worry.\r\n\r\n<span style=\"text-decoration: underline;\">THIRD PARTY COMPANIES WITH BANNERS ON MY WEBSITE:</span>\r\n\r\nThere 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.\r\n\r\nUnlike 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.\r\n\r\nBy virtue of the fact, I work with these companies almost daily. I am more than confident to have them advertise on my website.\r\n\r\nAny 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.\r\n\r\n<span style=\"text-decoration: underline;\">TRADING &amp; PERFORMANCES DISCLAIMER:</span>\r\n\r\nFLASH, 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.','FUNDAMENTALLY, IN SPITE OF RECENT MOVES I AM STILL A USD BULL','','publish','open','closed','','fundamentally-spite-recent-moves-still-usd-bull','','','2015-02-15 07:12:34','2015-02-15 12:12:34','',0,'https://weeklyfxdrivethru.com/?p=5319',0,'post','',0),(5320,1,'2015-02-15 07:10:36','2015-02-15 12:10:36','<h3 style=\"text-align: center;\"><strong>THE WEEKLY FX DRIVE THRU\r\n</strong><strong>and\r\n</strong><strong>THE PREMIUM SERVICE\r\n</strong><strong>(The Home of Single-Lot $$$$ Trading)</strong></h3>\r\n<strong>DATE: 15.02.2015\r\nREFERENCE: #139\r\n</strong><strong>BLOG VERSION: THE WEEKLY FX DRIVE THRU</strong>\r\n\r\n&nbsp;\r\n<ol>\r\n	<li><strong><span style=\"text-decoration: underline;\"> INTRODUCTION / LOOKING BACK OVER THE PAST WEEK:</span></strong></li>\r\n</ol>\r\nI feel the same as last week by saying “Thank God that last week is over”.\r\n\r\nAnother short squeeze on Thursday last week took away profits earned since the previous squeeze… annoying, painful, frustrating and basically a pain in the arse.\r\n\r\nI wrote to PREMIUM SERVICE subscribers the morning of the latest squeeze that I felt as if the U.S. Retail Sales numbers were going to disappoint and that we should be ready for a spike and then a pullback to the pre news levels. This basically happened and then we had a Greece rumour and oil… the rest is history. A nice commodity currency squeeze, at this point I exited EVERYTHING limit orders 100% flat. I spoke with a couple of subscribers who decided to sit through squeeze 1…. but most of them covered trades in squeeze 2. After the previous week, I just decided to exit 100%, using the often-quoted phrase of “Your first loss is your best loss”. One point I must make is that usually we have a single currency squeeze but the ascendancy of these total market squeezes scares me as the moves are unrelenting, wild, crazy, volatile and they are unforgiving wiping out both long and short traders. It certainly has been a wild ride trading Forex in 2015 so far, and, we are not even at the end of the first quarter.\r\n\r\nThe big news over the past week is the continuing “Mexican Stand-Off” between the New Greek government officials versus the EUROZONE although you could be forgiven for believing that it is Greece versus Germany. This on-going battle over potential debt forgiveness has legs to run. The hospitality service industry is still on RED ALERT in Brussels as they are expecting more meetings. The local cheese mongers and wine boutiques are re-stocking in the full knowledge that the numbers of “Cheese &amp; Wine” hosted events by EUROZONE official’s sees no pullback. In fact, it is the only bloody growth business in Brussels apart from hookers for the MEP’s and EUROZONE officials to pass time with. It’s a tough job, but someone’s got to do it.\r\n\r\nAfter the EUROZONE matter, UKRAINE re-appeared in the news, even though it was always there just not really covered here in North America.\r\n\r\nFrom a Forex perspective the volatility in oil, which, I alluded to earlier, was a huge trading influence, in particular with the CAD, which, seems to be now treated as a proxy for oil.\r\n\r\nBOE Governor Carney, did what was predicted by being hawkish when presenting the quarterly Inflation report, which has created a GBP breakout. The PREMIUM SERVICE is positioned to take advantage of this… trades are in position as I have several limit orders in position to get back into LIVE trading again.\r\n\r\nThe Australian Jobs data last Wednesday were poor and although the AUD initially fell it has bounced back strongly on the back of the aforementioned squeeze and continued higher on the back of U.S. equities posting new highs. It is in fact from the lows post jobs data to highs today a move of 125 pips or so, which, does not sound much but we have a very dovish rate-cutting RBA in play. They will NOT be happy with levels above 0.7700.\r\n\r\nSo, the PREMIUM SERVICE enters next week a little over flat for the month and actually almost on target for 2015. I have LIMIT ORDERS in place plus a few trade ideas in my head that I need to confirm by chart analysis to hopefully capture some nice profitable trades once more. I am hoping that next week I can start off the blog with something other than “Doom and Gloom”.\r\n\r\nTime will tell.\r\n\r\n&nbsp;\r\n<ol start=\"2\">\r\n	<li><strong><span style=\"text-decoration: underline;\"> WHAT’S ON MY MIND: -\r\nTHE FUNDAMENTAL TRADERS OVERVIEW:</span></strong></li>\r\n</ol>\r\n<p style=\"text-align: center;\"><strong>FUNDAMENTALLY, IN SPITE OF RECENT MOVES I AM STILL A USD BULL</strong></p>\r\nLast week I talked about “Merry go-rounds” and “Roller Coasters” and to a large extent I think that we are still at Six Flags, Alton Towers or a Disney Theme Park.\r\n\r\nWhether we are near the end of the ride or about to go and line up again for another thrill-seeking adventure, I wish I knew.\r\n\r\nBut I do know that all markets are still over-stretched and valuations are also being stretched in equities. The constant desire for value in equities and the fact that markets all over the world are instantly accessible, coupled with money flows in or out of a country being instantaneous, means that GREED is driving the ever growing desire for an edge and this GREED is the key driver of increasing volatility. This volatility is best seen right now in Oil and Bonds and general Commodities. It is driving rumours and creating vacuums in flows and when added to the geopolitical events is it any wonder that we have FEAR and GREED dominating matters and for us Forex traders this creates squeezes driven by FEAR and GREED, which have been so volatile, long-lasting and complete washouts of both ends of the trading range suckering both long and short traders and cleaning them out.\r\n\r\nTo be a FOREX trading survivor of this is a credit to your disciplines: -\r\n<p style=\"text-align: center;\"><em>POSITION SIZING\r\n</em><em>RISK MANAGEMENT\r\n</em><em>PLANNING YOUR TRADES and TRADING YOUR PLAN\r\n</em><em>RISK ASSESSMENT</em></p>\r\nI have had six or seven different PREMIUM SERVICE subscribers telling me of their own experiences over the past few days and so far in 2015 overall, in addition, they have asked me about what are my thoughts for the coming weeks and months ahead.\r\n\r\nHave my FUNDAMENTAL views altered?\r\n\r\nThe obvious answer is that if I knew what was about to happen, I would not be writing this blog!\r\n\r\nI gave answers to my subscribers roughly as follows and being able to take time away from charts and price movements to explain in a little more detail is good karma.\r\n\r\nI am FUNDAMENTALLY long the USD for the following basic and straightforward reason: - CENTRAL BANK DIVERGENCES.\r\n\r\nPlus, like it or not when it all comes down to Central Bank policies, lets face it the FED is king. This year whether it be the right thing to do or not the FED is going to raise interest rates in the U.S. They simply CANNOT AFFORD not to, should they back track they will be fu**ed as the markets would never believe another word about their monetary policy statements ever again. It is that simple in my opinion.\r\n\r\nEven with the recent geopolitical data surrounding GREECE and UKRAINE, domestic life in the U.S. goes on and economic data worldwide continues to be released. Whether you believe the released data is another matter. The recent 35% error in employment data in 2014 recently corrected by the Canadian Government being a case in point. Markets move on the data and we have allowed Governments the luxury of corrections the following month. In my eyes this shows poor management and it gives ineffective politicians an excuse. Having said that did anyone in Ottawa get sacked for the unheard of amendment in Canadian data?\r\n<p style=\"text-align: center;\"><strong><em>Here was my tweet on January 29<sup>th</sup> 2015 from @pipaccumulator\r\nCANADA NEEDS ACCOUNTANTS:\r\n</em><em>Canadian labor market added +121.3K jobs in 2014, NOT +185.7K as originally estimated. That\'s a -34.7% revision!</em></strong></p>\r\nMoving back on track….\r\n\r\nThe FED and the BOE with “anyway the winds blow Carney” at the helm are in the raising interest rates camp… THE HAWKS.\r\n\r\nThe BOJ, ECB, RBA, BOC and SNB are on the other side… THE DOVES.\r\n\r\nThe RBNZ as far as I’m concerned, the jury is out… THE NOT QUITE SURE.\r\n\r\nI know that I am re-iterating content that I have used in a similar form before but it is still valid.\r\n\r\nThe markets are basically all about Commodities and Central Banks. It is this relationship that is crucial. Right now there is divergence, my lead indicators are screwed up: -\r\n<p style=\"text-align: center;\"><em>AUD/USD\r\nAUD/JPY\r\n</em><em>USD/CAD\r\n</em><em>GOLD\r\n</em><em>OIL\r\n</em><em>COPPER\r\n</em><em>USD/SEK</em></p>\r\nHowever, the Central Banks still have the power to move markets, some are temporary one is NOT. The FED is the king to direct and move markets domestically and more importantly internationally and therefore this is my overriding key driver for my belief that my FUNDAMENTAL view that I should be biased to being long the USD still holds strong in my decision making process.\r\n\r\nNow…\r\n\r\nNot everything is a straight-line movement; there is intra-day volatility that produces stair steps in the overall direction.\r\n\r\nThe USD index is banging its head on resistance once again looking possibly set to make a run at a triple digit handle. This is HUGE… I mean REALLY HUGE.\r\n\r\nBig support or resistance levels in whatever financial markets you look at create a period of consolidation prior to attempting a breakout or breakdown, thus we are in effect entering ranging markets. As a Forex trader that is what we have today. Just for good measure these extremes also cause the flush outs / squeezes as well, but as stated earlier these I believe are rooted in basic FEAR and GREED. As we all know the two key drivers of the Forex market are FEAR and GREED.\r\n\r\nThe question that I still cannot answer to my PREMIUM SERVICE subscribers that posed it, it for how long do we consolidate and range trade?\r\n\r\nThere are many traders out there having the time of their lives because they have the knack of range trading. I am fecking awful at range trading… I suck.\r\n\r\nAll that said what should one do?\r\n\r\nIn my opinion, I think it is just the core traits of a Forex trader that need to be re-visited and maybe slightly re-aligned for the time being.\r\n\r\nFirstly, manage POSITION SIZES a little below usual sizes. Remember longevity in trading can only be achieved through effective MONEY and RISK MANAGEMENT.\r\n\r\nSecondly, maybe reduce the number of active LIVE TRADES to allow you better management of trades in case you need to adjust.\r\n\r\nThirdly, protect profits earlier than maybe you would do. You can always use the “woulda coulda shoulda” retort to a bad trade, but you should never complain if you are banking $$$$. Isn’t this what trading is about?\r\n\r\n&nbsp;\r\n<ol start=\"3\">\r\n	<li><strong><span style=\"text-decoration: underline;\"> THE PREMIUM SERVICE:\r\n\r\n</span></strong></li>\r\n</ol>\r\n<strong><span style=\"text-decoration: underline;\">SUMMARY OF PERFORMANCE:</span></strong>\r\n\r\n<span style=\"text-decoration: underline;\">3.1 OVERVIEW:</span>\r\n\r\nFor 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, PROMOTIONS (if available), SIGN-UP and DISCLAIMER. Further details and how to join are all contained there. You will need at PayPal account to subscribe.\r\n\r\n<span style=\"text-decoration: underline;\">3.2 PREMIUM SERVICE – SUBSCRIPTION COSTS:</span>\r\n\r\nFull details regarding the PREMIUM SERVICE can be found on my website <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a>\r\n\r\nOn the welcome page there are a series of TABS at the top of the page that provide a summary of what the PREMIUM SERVICE is about and what you receive for your subscription.\r\n\r\nTHE 2015 SUBSCRIPTION BREAKDOWN IS AS FOLLOWS: -\r\n\r\n10 weeks - $200.00\r\n20 weeks - $350.00\r\n40 weeks - $500.00\r\n\r\n<span style=\"text-decoration: underline;\">3.3 TRADING REVIEW OF ACTIVITY and SUMMARY OF PERFORMANCE:</span>\r\n\r\nLast week was another bugger of a week. I gave back hard earned profits from losses on the previous weeks squeeze and a bit more with last Thursday’s action. Being positive my action to cut and level all trades when I did was the best decision looking at what has subsequently transpired.\r\n\r\nIn the past seven days there were some great pips earned on the commodity cross-rate pairs to bring my pip profits back in line but sadly as these trades are of a more volatile nature the $$$ value from these trades is not as high as USD major trades so $$$ wise my trading accounts are still behind objective. When you consider that after the squeeze two weeks ago and the SNB day added the PREMIUM SERVICE has had to recover over 1,200 pips. This has been done, now its down to some nice $$$ trades over the next two / three weeks.\r\n\r\nAs I have written before and there are articles inside the PREMIUM SERVICE website under the EDUCATION TAB titled TRADING ESSENTIALS, where you can find pieces that I have added about TRADING CONSISTENCIES.\r\n\r\nFor me it’s now all about still locating the high probability trades, identifying the places of interest for buyers and sellers, looking at Fibonacci levels, pivot points, SMA’s, “Bollinger’s” and horizontal support and resistances placing trades and sending alerts to subscribers so that we can all earn some $$$.\r\n\r\nIn the past week the ratio between profitable trades and loss making trades has not improved due to trades being cut short in the squeezes and my approach of taking losses just to exit the madness. This will improve as the year progresses as I believe that the methods used in the past to identify high probability trades has not left me, it has just been a series of market moving events outside of my control that has given me this blip. On a more positive point, with the pips total coming back it gives me a great base to work from moving forward.\r\n\r\nI should also mention that if you traded just single lot trades as per the PREMIUM SERVICE suggested trade set-ups your trading account would be positive. It is our desire (GREED), to make more $$$ that makes us trade multiple lots of different lot sizes that creates the difference in performance as some lower value lot trades may have the greatest pip gain and the higher value lot trades may have small losses. When you combine the two, you can have pips without $$$. I had this on one account I traded in 2014, by the year-end trades had balanced out and it made a return of 25%, which, is still considerably more than the bank or a typical stock market return.\r\n\r\nAs I stated earlier it is not all “Doom and Gloom”, you must take a longer-term view of your trading activity.\r\n\r\nThe usual summary charts detailing the week and year to date performances, are below: -\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">3.3.1. – PREMIUM SERVICE PROFIT/LOSS RATIOS:\r\n\r\n</span>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/PROFIT-LOSS-RATIOS-15022015.png\"><img class=\"aligncenter size-full wp-image-5299\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/PROFIT-LOSS-RATIOS-15022015.png\" alt=\"PROFIT-LOSS RATIOS 15022015\" width=\"401\" height=\"572\" /></a>\r\n\r\n<span style=\"text-decoration: underline;\">3.3.2. – PREMIUM SERVICE RISK/REWARD ANALYSIS:</span>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/RISK-REWARD-15022105.png\"><img class=\"aligncenter size-full wp-image-5300\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/RISK-REWARD-15022105.png\" alt=\"RISK-REWARD 15022105\" width=\"420\" height=\"534\" /></a>\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">3.3.3. – PREMIUM SERVICE OVERALL TRADE SUMMARY MONTH &amp; YTD:</span>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/PREM-SERV-PROFITS1-15022015.png\"><img class=\"aligncenter size-full wp-image-5301\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/PREM-SERV-PROFITS1-15022015.png\" alt=\"PREM SERV PROFITS1 15022015\" width=\"452\" height=\"438\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/PREM-SERV-PROFITS2-15022015.png\"><img class=\"aligncenter size-full wp-image-5302\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/PREM-SERV-PROFITS2-15022015.png\" alt=\"PREM SERV PROFITS2 15022015\" width=\"454\" height=\"428\" /></a>\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">3.4 THE PREMIUM SERVICE – 2015 PROMOTION:</span><strong> </strong>\r\n<p style=\"text-align: center;\"><span style=\"color: #ff0000;\"><strong>PLEASE NOTE THAT THERE ARE ONLY TWO WEEKS LEFT\r\n</strong><strong>THE PROMOTION EXPIRES IN TWO WEEKS</strong></span></p>\r\nKeeping your PREMIUM SERVICE trades separate from your own trades can give you an instant direct performance comparison.\r\n\r\nIf you open a separate account with any of my trading partners / preferred brokers CWMFX, AvaTrade or Blackwell Global, you will be eligible for “BONUS WEEKS” to be added to your subscription.\r\n\r\nThis is in addition to the account-opening bonuses for new clients offered by AvaTrade, (see their website www.avatrade.com for full details), or, Blackwell Global (contact me directly for bonus details)\r\n\r\nThe promotion also applies to CWMFX accounts as well. They offer very tight rate spreads as an alternative to account opening bonuses offered by AvaTrade and Blackwell Global.\r\n\r\nIf you intend to be or are a longer-term position style trader only looking at your computer once a day tight rate spreads may not be as important to you and as such, the AvaTrade or Blackwell Global bonus may be more appealing to you.\r\n\r\nConversely, if you intend to be a more active trader the CWMFX tight rate spreads will be of more interest.\r\n\r\nThe choice is yours.\r\n\r\nThis promotion with my associated trading partners will expire of Saturday 28th\r\n\r\nFebruary 2015…it is really very limited: -\r\n<ol>\r\n	<li><strong>Subscribe to the PREMIUM SERVICE:</strong></li>\r\n</ol>\r\nYou will need to go to the welcome page of my website <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a>\r\n\r\nClick on the sign-up tab at the top of the page.\r\n\r\n2015 PREMIUM SERVICE SUBSCRIPTION RATES\r\n\r\n10 weeks = $200.00\r\n20 weeks = $350.00\r\n40 weeks = $500.00 (full year / annual subscription)\r\n\r\nNOTE: I limit my trading during periods of thin liquidity such as Christmas / New Year and Late July / August summer vacation times.\r\n\r\nHence, 40 weeks is equal to an annual subscription.\r\n<ol start=\"2\">\r\n	<li><strong>Open a LIVE account clicking on the “BANNER” of the broker of your choice on my website.</strong></li>\r\n</ol>\r\nThis will enable you to achieve a trading bonus direct from AvaTrade or BLACKWELL GLOBAL or opt for the tight rate spreads from CWMFX.\r\n\r\nFor Blackwell Global advise me of what you are doing and I will guide you through the process.\r\n\r\nAll the banners are on the welcome page of my website\r\n\r\nwww.weeklyfxdrivethru.com\r\n<ol start=\"3\">\r\n	<li><strong>PREMIUM SERVICE – BONUS WEEKS PROMOTION:</strong></li>\r\n</ol>\r\nOnce the LIVE trading account is confirmed and funded, I will extended\r\n\r\nPREMIUM SERVICE subscription periods as follows after you have advised me what you have done via email at <a href=\"mailto:premiumservice@weeklyfxdrivethru.com\">premiumservice@weeklyfxdrivethru.com</a>: -\r\n<p style=\"text-align: center;\"><span style=\"color: #0000ff;\"><strong>10-week subscriptions will receive a bonus of 5 weeks (15 weeks total)</strong></span>\r\n<span style=\"color: #0000ff;\"><strong>Your subscription would be equivalent to $13.33 per week.</strong></span></p>\r\n<p style=\"text-align: center;\"><span style=\"color: #0000ff;\"><strong>20-week subscriptions will receive a bonus of 10 weeks (30 weeks total)</strong></span>\r\n<span style=\"color: #0000ff;\"><strong>Your subscription would be equivalent to $11.66 per week.</strong></span></p>\r\n<p style=\"text-align: center;\"><span style=\"color: #0000ff;\"><strong>40-week subscriptions will receive a bonus of 20 weeks (60 weeks total)</strong></span>\r\n<span style=\"color: #0000ff;\"><strong>Your subscription would be equivalent to $8.33 per week.</strong></span></p>\r\nThis promotion represents the best offer that I have participated in and has an unbelievable value. It is simply the best that I have ever promoted and is a great way to start trading in 2015.\r\n\r\nIt would hopefully be the start of a very profitable relationship together.\r\n<ol start=\"4\">\r\n	<li><strong>PLEASE NOTE: - THE FOLLOWING CONDITIONS TO THE PROMOTION:</strong></li>\r\n</ol>\r\nOnly broker accounts opened via the banner on my website www.weeklyfxdrivethru.com are accepted for the PREMIUM SERVICE BONUS WEEKS PROMOTION.\r\n\r\nFor the “BONUS WEEKS PROMOTION” in subscription weeks to the\r\n\r\nPREMIUM SERVICE to remain intact you must meet the AvaTrade, Blackwell Global or CWMFX requirements for operating your broker account. Should your account with AvaTrade, Blackwell Global or CWMFX cease to be valid and close the “BONUS WEEKS” segment of the PREMIUM SERVICE promotion will also be withdrawn.\r\n\r\nThis PREMIUM SERVICE “BONUS WEEKS PROMOTION” is only available with this offer and is 100% linked to the AvaTrade, Blackwell Global or CWMFX LIVE accounts being opened via the banners on the welcome page of my website www.weeklyfxdrivethru.com\r\n\r\n&nbsp;\r\n<ol start=\"4\">\r\n	<li><strong><span style=\"text-decoration: underline;\"> PREMIUM SERVICE SUBSCRIBER EXCLUSIVE CONTENT:</span></strong></li>\r\n</ol>\r\n(Section 4 is exclusive PREMIUM SERVICE content only available to PREMIUM SERVICE subscribers)\r\n\r\n<span style=\"text-decoration: underline;\">4.1 EDUCATION:\r\n</span>\r\n\r\n<span style=\"text-decoration: underline;\">4.2 THE PREMIUM SERVICE - EXISTING LIVE TRADES:</span>\r\n\r\n<span style=\"text-decoration: underline;\">4.3 THE PREMIUM SERVICE - TRADES THAT ARE ON MY RADAR:</span>\r\n\r\n<span style=\"text-decoration: underline;\">4.4 MAJOR TRADING PAIRS WITH LONGER-TERM TRENDS MATCHING:</span>\r\n\r\n<span style=\"text-decoration: underline;\">4.5 THE KEY SUPPORT &amp; RESISTANCE LEVELS WITH THE USD MAJORS</span><strong><span style=\"text-decoration: underline;\">:\r\n\r\n</span></strong>\r\n\r\n&nbsp;\r\n<ol start=\"5\">\r\n	<li><strong><span style=\"text-decoration: underline;\"> THE WEEK AHEAD: -\r\nWHAT AM I THINKING &amp; WHAT AM I LOOKING AT?</span></strong></li>\r\n</ol>\r\n<span style=\"text-decoration: underline;\">5.1 MAJOR FOREX NEWS THIS WEEK THAT INTERESTS ME:</span>\r\nSUNDAY: NZD – Retail Sales.\r\n\r\nMONDAY: AUD – Monetary Policy Meeting Minutes.\r\nMONDAY: EUR – EUROGROUP meetings.\r\n\r\nTUESDAY: GBP - CPi.\r\nTUESDAY: EUR – German ZEW Economic Sentiment.\r\nTUESDAY: NZD – Dairy Auction Prices.\r\n\r\nWEDNESDAY: GBP – Employment Data.\r\nWEDNESDAY: USD – FOMC Meeting Minutes.\r\n\r\nTHURSDAY: N/A.\r\n\r\nFRIDAY: EUR – French and German Flash Manufacturing PMi.\r\nFRIDAY: GBP – Retail Sales.\r\nFRIDAY: CAD – Core Retail Sales.\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">5.2 FINAL THOUGHTS / CLOSING COMMENTS:</span>\r\n\r\nI think that GREECE and the EUROZONE will be the dominant news factors this coming week.\r\n\r\nAs I always say with all events EUROZONE watch out for the sound-bytes from the many politicians and hangers-on who just love their 30 seconds of fame.\r\n\r\nBe careful of Nowotny and Schaeuble, they are pains in the ass for liking the sounds of their own voices, even if what they say is utter boll**ks or bulls**t.\r\n\r\nThere will be trades to trade and there will be some great opportunities, please trade in line with your RISK MANAGEMENT parameters from your TRADING PLAN. If you do not have a TRADE PLAN, in my opinion, you should, as this will help you with consistency.\r\n<p style=\"text-align: center;\"><strong>Consistency = longevity in trading and that is a critical goal.\r\nIT IS THE KEY MEASUREMENT</strong></p>\r\nBefore you enter a trade work out the risk, price it in $$$. Place your stop accordingly. PREMIUM SERVICE subscribers have a full library of information on RISK MANAGEMENT, RISK TOLERANCES and POSITION SIZING etc. available for reference 24x7.\r\n\r\nTake care.\r\n\r\nScott Pickering\r\nThe Pip Accumulator\r\nSunday February 15th 2015\r\n\r\nEMAIL / FOLLOW ME AT:\r\ndrivethru@weeklyfxdrivethru.com\r\nTwitter: @pipaccumulator\r\n<span style=\"line-height: 1.5;\">Google+/scottpickering\r\n</span>Tumblr: thepipaccumulator\r\n\r\n&nbsp;\r\n\r\n<strong><span style=\"text-decoration: underline;\">DISCLAIMER &amp; OTHER DATA:\r\n\r\n</span></strong> <span style=\"text-decoration: underline;\">SUBSCRIBING TO THE “FREE VERSION” OF THE WEEKLY FX DRIVE THRU:</span>\r\n\r\nIf you like what you have almost completed reading and want to have THE WEEKLY FX DRIVE THRU delivered direct to your email inbox next week, here is what you do: -\r\n\r\nGo to my website: - <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a>\r\n\r\nOn 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.\r\n\r\nI do NOT sell your email data to anyone…do not worry.\r\n\r\n<span style=\"text-decoration: underline;\">THIRD PARTY COMPANIES WITH BANNERS ON MY WEBSITE:</span>\r\n\r\nThere 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.\r\n\r\nUnlike 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.\r\n\r\nBy virtue of the fact, I work with these companies almost daily. I am more than confident to have them advertise on my website.\r\n\r\nAny 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.\r\n\r\n<span style=\"text-decoration: underline;\">TRADING &amp; PERFORMANCES DISCLAIMER:</span>\r\n\r\nFLASH, 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.','FUNDAMENTALLY, IN SPITE OF RECENT MOVES I AM STILL A USD BULL','','inherit','open','closed','','5319-revision-v1','','','2015-02-15 07:10:36','2015-02-15 12:10:36','',5319,'https://weeklyfxdrivethru.com/5319-revision-v1/',0,'revision','',0),(5321,1,'2015-02-15 07:12:06','2015-02-15 12:12:06','<h3 style=\"text-align: center;\"><strong>THE WEEKLY FX DRIVE THRU\r\n</strong><strong>and\r\n</strong><strong>THE PREMIUM SERVICE\r\n</strong><strong>(The Home of Single-Lot $$$$ Trading)</strong></h3>\r\n<strong>DATE: 15.02.2015\r\nREFERENCE: #139\r\n</strong><strong>BLOG VERSION: THE WEEKLY FX DRIVE THRU</strong>\r\n\r\n&nbsp;\r\n<ol>\r\n	<li><strong><span style=\"text-decoration: underline;\"> INTRODUCTION / LOOKING BACK OVER THE PAST WEEK:</span></strong></li>\r\n</ol>\r\nI feel the same as last week by saying “Thank God that last week is over”.\r\n\r\nAnother short squeeze on Thursday last week took away profits earned since the previous squeeze… annoying, painful, frustrating and basically a pain in the arse.\r\n\r\nI wrote to PREMIUM SERVICE subscribers the morning of the latest squeeze that I felt as if the U.S. Retail Sales numbers were going to disappoint and that we should be ready for a spike and then a pullback to the pre news levels. This basically happened and then we had a Greece rumour and oil… the rest is history. A nice commodity currency squeeze, at this point I exited EVERYTHING limit orders 100% flat. I spoke with a couple of subscribers who decided to sit through squeeze 1…. but most of them covered trades in squeeze 2. After the previous week, I just decided to exit 100%, using the often-quoted phrase of “Your first loss is your best loss”. One point I must make is that usually we have a single currency squeeze but the ascendancy of these total market squeezes scares me as the moves are unrelenting, wild, crazy, volatile and they are unforgiving wiping out both long and short traders. It certainly has been a wild ride trading Forex in 2015 so far, and, we are not even at the end of the first quarter.\r\n\r\nThe big news over the past week is the continuing “Mexican Stand-Off” between the New Greek government officials versus the EUROZONE although you could be forgiven for believing that it is Greece versus Germany. This on-going battle over potential debt forgiveness has legs to run. The hospitality service industry is still on RED ALERT in Brussels as they are expecting more meetings. The local cheese mongers and wine boutiques are re-stocking in the full knowledge that the numbers of “Cheese &amp; Wine” hosted events by EUROZONE official’s sees no pullback. In fact, it is the only bloody growth business in Brussels apart from hookers for the MEP’s and EUROZONE officials to pass time with. It’s a tough job, but someone’s got to do it.\r\n\r\nAfter the EUROZONE matter, UKRAINE re-appeared in the news, even though it was always there just not really covered here in North America.\r\n\r\nFrom a Forex perspective the volatility in oil, which, I alluded to earlier, was a huge trading influence, in particular with the CAD, which, seems to be now treated as a proxy for oil.\r\n\r\nBOE Governor Carney, did what was predicted by being hawkish when presenting the quarterly Inflation report, which has created a GBP breakout. The PREMIUM SERVICE is positioned to take advantage of this… trades are in position as I have several limit orders in position to get back into LIVE trading again.\r\n\r\nThe Australian Jobs data last Wednesday were poor and although the AUD initially fell it has bounced back strongly on the back of the aforementioned squeeze and continued higher on the back of U.S. equities posting new highs. It is in fact from the lows post jobs data to highs today a move of 125 pips or so, which, does not sound much but we have a very dovish rate-cutting RBA in play. They will NOT be happy with levels above 0.7700.\r\n\r\nSo, the PREMIUM SERVICE enters next week a little over flat for the month and actually almost on target for 2015. I have LIMIT ORDERS in place plus a few trade ideas in my head that I need to confirm by chart analysis to hopefully capture some nice profitable trades once more. I am hoping that next week I can start off the blog with something other than “Doom and Gloom”.\r\n\r\nTime will tell.\r\n\r\n&nbsp;\r\n<ol start=\"2\">\r\n	<li><strong><span style=\"text-decoration: underline;\"> WHAT’S ON MY MIND: -\r\nTHE FUNDAMENTAL TRADERS OVERVIEW:</span></strong></li>\r\n</ol>\r\n<p style=\"text-align: center;\"><strong>FUNDAMENTALLY, IN SPITE OF RECENT MOVES I AM STILL A USD BULL</strong></p>\r\nLast week I talked about “Merry go-rounds” and “Roller Coasters” and to a large extent I think that we are still at Six Flags, Alton Towers or a Disney Theme Park.\r\n\r\nWhether we are near the end of the ride or about to go and line up again for another thrill-seeking adventure, I wish I knew.\r\n\r\nBut I do know that all markets are still over-stretched and valuations are also being stretched in equities. The constant desire for value in equities and the fact that markets all over the world are instantly accessible, coupled with money flows in or out of a country being instantaneous, means that GREED is driving the ever growing desire for an edge and this GREED is the key driver of increasing volatility. This volatility is best seen right now in Oil and Bonds and general Commodities. It is driving rumours and creating vacuums in flows and when added to the geopolitical events is it any wonder that we have FEAR and GREED dominating matters and for us Forex traders this creates squeezes driven by FEAR and GREED, which have been so volatile, long-lasting and complete washouts of both ends of the trading range suckering both long and short traders and cleaning them out.\r\n\r\nTo be a FOREX trading survivor of this is a credit to your disciplines: -\r\n<p style=\"text-align: center;\"><em>POSITION SIZING\r\n</em><em>RISK MANAGEMENT\r\n</em><em>PLANNING YOUR TRADES and TRADING YOUR PLAN\r\n</em><em>RISK ASSESSMENT</em></p>\r\nI have had six or seven different PREMIUM SERVICE subscribers telling me of their own experiences over the past few days and so far in 2015 overall, in addition, they have asked me about what are my thoughts for the coming weeks and months ahead.\r\n\r\nHave my FUNDAMENTAL views altered?\r\n\r\nThe obvious answer is that if I knew what was about to happen, I would not be writing this blog!\r\n\r\nI gave answers to my subscribers roughly as follows and being able to take time away from charts and price movements to explain in a little more detail is good karma.\r\n\r\nI am FUNDAMENTALLY long the USD for the following basic and straightforward reason: - CENTRAL BANK DIVERGENCES.\r\n\r\nPlus, like it or not when it all comes down to Central Bank policies, lets face it the FED is king. This year whether it be the right thing to do or not the FED is going to raise interest rates in the U.S. They simply CANNOT AFFORD not to, should they back track they will be fu**ed as the markets would never believe another word about their monetary policy statements ever again. It is that simple in my opinion.\r\n\r\nEven with the recent geopolitical data surrounding GREECE and UKRAINE, domestic life in the U.S. goes on and economic data worldwide continues to be released. Whether you believe the released data is another matter. The recent 35% error in employment data in 2014 recently corrected by the Canadian Government being a case in point. Markets move on the data and we have allowed Governments the luxury of corrections the following month. In my eyes this shows poor management and it gives ineffective politicians an excuse. Having said that did anyone in Ottawa get sacked for the unheard of amendment in Canadian data?\r\n<p style=\"text-align: center;\"><strong><em>Here was my tweet on January 29<sup>th</sup> 2015 from @pipaccumulator\r\nCANADA NEEDS ACCOUNTANTS:\r\n</em><em>Canadian labor market added +121.3K jobs in 2014, NOT +185.7K as originally estimated. That\'s a -34.7% revision!</em></strong></p>\r\nMoving back on track….\r\n\r\nThe FED and the BOE with “anyway the winds blow Carney” at the helm are in the raising interest rates camp… THE HAWKS.\r\n\r\nThe BOJ, ECB, RBA, BOC and SNB are on the other side… THE DOVES.\r\n\r\nThe RBNZ as far as I’m concerned, the jury is out… THE NOT QUITE SURE.\r\n\r\nI know that I am re-iterating content that I have used in a similar form before but it is still valid.\r\n\r\nThe markets are basically all about Commodities and Central Banks. It is this relationship that is crucial. Right now there is divergence, my lead indicators are screwed up: -\r\n<p style=\"text-align: center;\"><em>AUD/USD\r\nAUD/JPY\r\n</em><em>USD/CAD\r\n</em><em>GOLD\r\n</em><em>OIL\r\n</em><em>COPPER\r\n</em><em>USD/SEK</em></p>\r\nHowever, the Central Banks still have the power to move markets, some are temporary one is NOT. The FED is the king to direct and move markets domestically and more importantly internationally and therefore this is my overriding key driver for my belief that my FUNDAMENTAL view that I should be biased to being long the USD still holds strong in my decision making process.\r\n\r\nNow…\r\n\r\nNot everything is a straight-line movement; there is intra-day volatility that produces stair steps in the overall direction.\r\n\r\nThe USD index is banging its head on resistance once again looking possibly set to make a run at a triple digit handle. This is HUGE… I mean REALLY HUGE.\r\n\r\nBig support or resistance levels in whatever financial markets you look at create a period of consolidation prior to attempting a breakout or breakdown, thus we are in effect entering ranging markets. As a Forex trader that is what we have today. Just for good measure these extremes also cause the flush outs / squeezes as well, but as stated earlier these I believe are rooted in basic FEAR and GREED. As we all know the two key drivers of the Forex market are FEAR and GREED.\r\n\r\nThe question that I still cannot answer to my PREMIUM SERVICE subscribers that posed it, it for how long do we consolidate and range trade?\r\n\r\nThere are many traders out there having the time of their lives because they have the knack of range trading. I am fecking awful at range trading… I suck.\r\n\r\nAll that said what should one do?\r\n\r\nIn my opinion, I think it is just the core traits of a Forex trader that need to be re-visited and maybe slightly re-aligned for the time being.\r\n\r\nFirstly, manage POSITION SIZES a little below usual sizes. Remember longevity in trading can only be achieved through effective MONEY and RISK MANAGEMENT.\r\n\r\nSecondly, maybe reduce the number of active LIVE TRADES to allow you better management of trades in case you need to adjust.\r\n\r\nThirdly, protect profits earlier than maybe you would do. You can always use the “woulda coulda shoulda” retort to a bad trade, but you should never complain if you are banking $$$$. Isn’t this what trading is about?\r\n\r\n&nbsp;\r\n<ol start=\"3\">\r\n	<li><strong></strong><strong><span style=\"text-decoration: underline;\"> THE PREMIUM SERVICE:</span></strong>&nbsp;</li>\r\n</ol>\r\n<strong><span style=\"text-decoration: underline;\">SUMMARY OF PERFORMANCE:</span></strong>\r\n\r\n<span style=\"text-decoration: underline;\">3.1 OVERVIEW:</span>\r\n\r\nFor 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, PROMOTIONS (if available), SIGN-UP and DISCLAIMER. Further details and how to join are all contained there. You will need at PayPal account to subscribe.\r\n\r\n<span style=\"text-decoration: underline;\">3.2 PREMIUM SERVICE – SUBSCRIPTION COSTS:</span>\r\n\r\nFull details regarding the PREMIUM SERVICE can be found on my website <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a>\r\n\r\nOn the welcome page there are a series of TABS at the top of the page that provide a summary of what the PREMIUM SERVICE is about and what you receive for your subscription.\r\n\r\nTHE 2015 SUBSCRIPTION BREAKDOWN IS AS FOLLOWS: -\r\n\r\n10 weeks - $200.00\r\n20 weeks - $350.00\r\n40 weeks - $500.00\r\n\r\n<span style=\"text-decoration: underline;\">3.3 TRADING REVIEW OF ACTIVITY and SUMMARY OF PERFORMANCE:</span>\r\n\r\nLast week was another bugger of a week. I gave back hard earned profits from losses on the previous weeks squeeze and a bit more with last Thursday’s action. Being positive my action to cut and level all trades when I did was the best decision looking at what has subsequently transpired.\r\n\r\nIn the past seven days there were some great pips earned on the commodity cross-rate pairs to bring my pip profits back in line but sadly as these trades are of a more volatile nature the $$$ value from these trades is not as high as USD major trades so $$$ wise my trading accounts are still behind objective. When you consider that after the squeeze two weeks ago and the SNB day added the PREMIUM SERVICE has had to recover over 1,200 pips. This has been done, now its down to some nice $$$ trades over the next two / three weeks.\r\n\r\nAs I have written before and there are articles inside the PREMIUM SERVICE website under the EDUCATION TAB titled TRADING ESSENTIALS, where you can find pieces that I have added about TRADING CONSISTENCIES.\r\n\r\nFor me it’s now all about still locating the high probability trades, identifying the places of interest for buyers and sellers, looking at Fibonacci levels, pivot points, SMA’s, “Bollinger’s” and horizontal support and resistances placing trades and sending alerts to subscribers so that we can all earn some $$$.\r\n\r\nIn the past week the ratio between profitable trades and loss making trades has not improved due to trades being cut short in the squeezes and my approach of taking losses just to exit the madness. This will improve as the year progresses as I believe that the methods used in the past to identify high probability trades has not left me, it has just been a series of market moving events outside of my control that has given me this blip. On a more positive point, with the pips total coming back it gives me a great base to work from moving forward.\r\n\r\nI should also mention that if you traded just single lot trades as per the PREMIUM SERVICE suggested trade set-ups your trading account would be positive. It is our desire (GREED), to make more $$$ that makes us trade multiple lots of different lot sizes that creates the difference in performance as some lower value lot trades may have the greatest pip gain and the higher value lot trades may have small losses. When you combine the two, you can have pips without $$$. I had this on one account I traded in 2014, by the year-end trades had balanced out and it made a return of 25%, which, is still considerably more than the bank or a typical stock market return.\r\n\r\nAs I stated earlier it is not all “Doom and Gloom”, you must take a longer-term view of your trading activity.\r\n\r\nThe usual summary charts detailing the week and year to date performances, are below: -\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">3.3.1. – PREMIUM SERVICE PROFIT/LOSS RATIOS:</span>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/PROFIT-LOSS-RATIOS-15022015.png\"><img class=\"aligncenter size-full wp-image-5299\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/PROFIT-LOSS-RATIOS-15022015.png\" alt=\"PROFIT-LOSS RATIOS 15022015\" width=\"401\" height=\"572\" /></a>\r\n\r\n<span style=\"text-decoration: underline;\">3.3.2. – PREMIUM SERVICE RISK/REWARD ANALYSIS:</span>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/RISK-REWARD-15022105.png\"><img class=\"aligncenter size-full wp-image-5300\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/RISK-REWARD-15022105.png\" alt=\"RISK-REWARD 15022105\" width=\"420\" height=\"534\" /></a>\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">3.3.3. – PREMIUM SERVICE OVERALL TRADE SUMMARY MONTH &amp; YTD:</span>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/PREM-SERV-PROFITS1-15022015.png\"><img class=\"aligncenter size-full wp-image-5301\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/PREM-SERV-PROFITS1-15022015.png\" alt=\"PREM SERV PROFITS1 15022015\" width=\"452\" height=\"438\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/PREM-SERV-PROFITS2-15022015.png\"><img class=\"aligncenter size-full wp-image-5302\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/PREM-SERV-PROFITS2-15022015.png\" alt=\"PREM SERV PROFITS2 15022015\" width=\"454\" height=\"428\" /></a>\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">3.4 THE PREMIUM SERVICE – 2015 PROMOTION:</span><strong> </strong>\r\n<p style=\"text-align: center;\"><span style=\"color: #ff0000;\"><strong>PLEASE NOTE THAT THERE ARE ONLY TWO WEEKS LEFT\r\n</strong><strong>THE PROMOTION EXPIRES IN TWO WEEKS</strong></span></p>\r\nKeeping your PREMIUM SERVICE trades separate from your own trades can give you an instant direct performance comparison.\r\n\r\nIf you open a separate account with any of my trading partners / preferred brokers CWMFX, AvaTrade or Blackwell Global, you will be eligible for “BONUS WEEKS” to be added to your subscription.\r\n\r\nThis is in addition to the account-opening bonuses for new clients offered by AvaTrade, (see their website www.avatrade.com for full details), or, Blackwell Global (contact me directly for bonus details)\r\n\r\nThe promotion also applies to CWMFX accounts as well. They offer very tight rate spreads as an alternative to account opening bonuses offered by AvaTrade and Blackwell Global.\r\n\r\nIf you intend to be or are a longer-term position style trader only looking at your computer once a day tight rate spreads may not be as important to you and as such, the AvaTrade or Blackwell Global bonus may be more appealing to you.\r\n\r\nConversely, if you intend to be a more active trader the CWMFX tight rate spreads will be of more interest.\r\n\r\nThe choice is yours.\r\n\r\nThis promotion with my associated trading partners will expire of Saturday 28th\r\n\r\nFebruary 2015…it is really very limited: -\r\n<ol>\r\n	<li><strong>Subscribe to the PREMIUM SERVICE:</strong></li>\r\n</ol>\r\nYou will need to go to the welcome page of my website <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a>\r\n\r\nClick on the sign-up tab at the top of the page.\r\n\r\n2015 PREMIUM SERVICE SUBSCRIPTION RATES\r\n\r\n10 weeks = $200.00\r\n20 weeks = $350.00\r\n40 weeks = $500.00 (full year / annual subscription)\r\n\r\nNOTE: I limit my trading during periods of thin liquidity such as Christmas / New Year and Late July / August summer vacation times.\r\n\r\nHence, 40 weeks is equal to an annual subscription.\r\n<ol start=\"2\">\r\n	<li><strong>Open a LIVE account clicking on the “BANNER” of the broker of your choice on my website.</strong></li>\r\n</ol>\r\nThis will enable you to achieve a trading bonus direct from AvaTrade or BLACKWELL GLOBAL or opt for the tight rate spreads from CWMFX.\r\n\r\nFor Blackwell Global advise me of what you are doing and I will guide you through the process.\r\n\r\nAll the banners are on the welcome page of my website\r\n\r\nwww.weeklyfxdrivethru.com\r\n<ol start=\"3\">\r\n	<li><strong>PREMIUM SERVICE – BONUS WEEKS PROMOTION:</strong></li>\r\n</ol>\r\nOnce the LIVE trading account is confirmed and funded, I will extended\r\n\r\nPREMIUM SERVICE subscription periods as follows after you have advised me what you have done via email at <a href=\"mailto:premiumservice@weeklyfxdrivethru.com\">premiumservice@weeklyfxdrivethru.com</a>: -\r\n<p style=\"text-align: center;\"><span style=\"color: #0000ff;\"><strong>10-week subscriptions will receive a bonus of 5 weeks (15 weeks total)</strong></span>\r\n<span style=\"color: #0000ff;\"><strong>Your subscription would be equivalent to $13.33 per week.</strong></span></p>\r\n<p style=\"text-align: center;\"><span style=\"color: #0000ff;\"><strong>20-week subscriptions will receive a bonus of 10 weeks (30 weeks total)</strong></span>\r\n<span style=\"color: #0000ff;\"><strong>Your subscription would be equivalent to $11.66 per week.</strong></span></p>\r\n<p style=\"text-align: center;\"><span style=\"color: #0000ff;\"><strong>40-week subscriptions will receive a bonus of 20 weeks (60 weeks total)</strong></span>\r\n<span style=\"color: #0000ff;\"><strong>Your subscription would be equivalent to $8.33 per week.</strong></span></p>\r\nThis promotion represents the best offer that I have participated in and has an unbelievable value. It is simply the best that I have ever promoted and is a great way to start trading in 2015.\r\n\r\nIt would hopefully be the start of a very profitable relationship together.\r\n<ol start=\"4\">\r\n	<li><strong>PLEASE NOTE: - THE FOLLOWING CONDITIONS TO THE PROMOTION:</strong></li>\r\n</ol>\r\nOnly broker accounts opened via the banner on my website www.weeklyfxdrivethru.com are accepted for the PREMIUM SERVICE BONUS WEEKS PROMOTION.\r\n\r\nFor the “BONUS WEEKS PROMOTION” in subscription weeks to the\r\n\r\nPREMIUM SERVICE to remain intact you must meet the AvaTrade, Blackwell Global or CWMFX requirements for operating your broker account. Should your account with AvaTrade, Blackwell Global or CWMFX cease to be valid and close the “BONUS WEEKS” segment of the PREMIUM SERVICE promotion will also be withdrawn.\r\n\r\nThis PREMIUM SERVICE “BONUS WEEKS PROMOTION” is only available with this offer and is 100% linked to the AvaTrade, Blackwell Global or CWMFX LIVE accounts being opened via the banners on the welcome page of my website www.weeklyfxdrivethru.com\r\n\r\n&nbsp;\r\n<ol start=\"4\">\r\n	<li><strong><span style=\"text-decoration: underline;\"> PREMIUM SERVICE SUBSCRIBER EXCLUSIVE CONTENT:</span></strong></li>\r\n</ol>\r\n(Section 4 is exclusive PREMIUM SERVICE content only available to PREMIUM SERVICE subscribers)\r\n\r\n<span style=\"text-decoration: underline;\">4.1 EDUCATION:\r\n</span>\r\n\r\n<span style=\"text-decoration: underline;\">4.2 THE PREMIUM SERVICE - EXISTING LIVE TRADES:</span>\r\n\r\n<span style=\"text-decoration: underline;\">4.3 THE PREMIUM SERVICE - TRADES THAT ARE ON MY RADAR:</span>\r\n\r\n<span style=\"text-decoration: underline;\">4.4 MAJOR TRADING PAIRS WITH LONGER-TERM TRENDS MATCHING:</span>\r\n\r\n<span style=\"text-decoration: underline;\">4.5 THE KEY SUPPORT &amp; RESISTANCE LEVELS WITH THE USD MAJORS</span><strong><span style=\"text-decoration: underline;\">:</span></strong>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n<ol start=\"5\">\r\n	<li><strong><span style=\"text-decoration: underline;\"> THE WEEK AHEAD: -\r\nWHAT AM I THINKING &amp; WHAT AM I LOOKING AT?</span></strong></li>\r\n</ol>\r\n<span style=\"text-decoration: underline;\">5.1 MAJOR FOREX NEWS THIS WEEK THAT INTERESTS ME:</span>\r\n\r\nSUNDAY: NZD – Retail Sales.\r\n\r\nMONDAY: AUD – Monetary Policy Meeting Minutes.\r\nMONDAY: EUR – EUROGROUP meetings.\r\n\r\nTUESDAY: GBP - CPi.\r\nTUESDAY: EUR – German ZEW Economic Sentiment.\r\nTUESDAY: NZD – Dairy Auction Prices.\r\n\r\nWEDNESDAY: GBP – Employment Data.\r\nWEDNESDAY: USD – FOMC Meeting Minutes.\r\n\r\nTHURSDAY: N/A.\r\n\r\nFRIDAY: EUR – French and German Flash Manufacturing PMi.\r\nFRIDAY: GBP – Retail Sales.\r\nFRIDAY: CAD – Core Retail Sales.\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">5.2 FINAL THOUGHTS / CLOSING COMMENTS:</span>\r\n\r\nI think that GREECE and the EUROZONE will be the dominant news factors this coming week.\r\n\r\nAs I always say with all events EUROZONE watch out for the sound-bytes from the many politicians and hangers-on who just love their 30 seconds of fame.\r\n\r\nBe careful of Nowotny and Schaeuble, they are pains in the ass for liking the sounds of their own voices, even if what they say is utter boll**ks or bulls**t.\r\n\r\nThere will be trades to trade and there will be some great opportunities, please trade in line with your RISK MANAGEMENT parameters from your TRADING PLAN. If you do not have a TRADE PLAN, in my opinion, you should, as this will help you with consistency.\r\n<p style=\"text-align: center;\"><strong>Consistency = longevity in trading and that is a critical goal.\r\nIT IS THE KEY MEASUREMENT</strong></p>\r\nBefore you enter a trade work out the risk, price it in $$$. Place your stop accordingly. PREMIUM SERVICE subscribers have a full library of information on RISK MANAGEMENT, RISK TOLERANCES and POSITION SIZING etc. available for reference 24x7.\r\n\r\nTake care.\r\n\r\nScott Pickering\r\nThe Pip Accumulator\r\nSunday February 15th 2015\r\n\r\nEMAIL / FOLLOW ME AT:\r\ndrivethru@weeklyfxdrivethru.com\r\nTwitter: @pipaccumulator\r\n<span style=\"line-height: 1.5;\">Google+/scottpickering\r\n</span>Tumblr: thepipaccumulator\r\n\r\n&nbsp;\r\n\r\n<strong><span style=\"text-decoration: underline;\">DISCLAIMER &amp; OTHER DATA:</span></strong>\r\n\r\n<span style=\"text-decoration: underline;\">SUBSCRIBING TO THE “FREE VERSION” OF THE WEEKLY FX DRIVE THRU:</span>\r\n\r\nIf you like what you have almost completed reading and want to have THE WEEKLY FX DRIVE THRU delivered direct to your email inbox next week, here is what you do: -\r\n\r\nGo to my website: - <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a>\r\n\r\nOn 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.\r\n\r\nI do NOT sell your email data to anyone…do not worry.\r\n\r\n<span style=\"text-decoration: underline;\">THIRD PARTY COMPANIES WITH BANNERS ON MY WEBSITE:</span>\r\n\r\nThere 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.\r\n\r\nUnlike 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.\r\n\r\nBy virtue of the fact, I work with these companies almost daily. I am more than confident to have them advertise on my website.\r\n\r\nAny 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.\r\n\r\n<span style=\"text-decoration: underline;\">TRADING &amp; PERFORMANCES DISCLAIMER:</span>\r\n\r\nFLASH, 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.','FUNDAMENTALLY, IN SPITE OF RECENT MOVES I AM STILL A USD BULL','','inherit','open','closed','','5319-revision-v1','','','2015-02-15 07:12:06','2015-02-15 12:12:06','',5319,'https://weeklyfxdrivethru.com/5319-revision-v1/',0,'revision','',0),(5322,1,'2015-02-15 07:12:34','2015-02-15 12:12:34','<h3 style=\"text-align: center;\"><strong>THE WEEKLY FX DRIVE THRU\r\n</strong><strong>and\r\n</strong><strong>THE PREMIUM SERVICE\r\n</strong><strong>(The Home of Single-Lot $$$$ Trading)</strong></h3>\r\n<strong>DATE: 15.02.2015\r\nREFERENCE: #139\r\n</strong><strong>BLOG VERSION: THE WEEKLY FX DRIVE THRU</strong>\r\n\r\n&nbsp;\r\n<ol>\r\n	<li><strong><span style=\"text-decoration: underline;\"> INTRODUCTION / LOOKING BACK OVER THE PAST WEEK:</span></strong></li>\r\n</ol>\r\nI feel the same as last week by saying “Thank God that last week is over”.\r\n\r\nAnother short squeeze on Thursday last week took away profits earned since the previous squeeze… annoying, painful, frustrating and basically a pain in the arse.\r\n\r\nI wrote to PREMIUM SERVICE subscribers the morning of the latest squeeze that I felt as if the U.S. Retail Sales numbers were going to disappoint and that we should be ready for a spike and then a pullback to the pre news levels. This basically happened and then we had a Greece rumour and oil… the rest is history. A nice commodity currency squeeze, at this point I exited EVERYTHING limit orders 100% flat. I spoke with a couple of subscribers who decided to sit through squeeze 1…. but most of them covered trades in squeeze 2. After the previous week, I just decided to exit 100%, using the often-quoted phrase of “Your first loss is your best loss”. One point I must make is that usually we have a single currency squeeze but the ascendancy of these total market squeezes scares me as the moves are unrelenting, wild, crazy, volatile and they are unforgiving wiping out both long and short traders. It certainly has been a wild ride trading Forex in 2015 so far, and, we are not even at the end of the first quarter.\r\n\r\nThe big news over the past week is the continuing “Mexican Stand-Off” between the New Greek government officials versus the EUROZONE although you could be forgiven for believing that it is Greece versus Germany. This on-going battle over potential debt forgiveness has legs to run. The hospitality service industry is still on RED ALERT in Brussels as they are expecting more meetings. The local cheese mongers and wine boutiques are re-stocking in the full knowledge that the numbers of “Cheese &amp; Wine” hosted events by EUROZONE official’s sees no pullback. In fact, it is the only bloody growth business in Brussels apart from hookers for the MEP’s and EUROZONE officials to pass time with. It’s a tough job, but someone’s got to do it.\r\n\r\nAfter the EUROZONE matter, UKRAINE re-appeared in the news, even though it was always there just not really covered here in North America.\r\n\r\nFrom a Forex perspective the volatility in oil, which, I alluded to earlier, was a huge trading influence, in particular with the CAD, which, seems to be now treated as a proxy for oil.\r\n\r\nBOE Governor Carney, did what was predicted by being hawkish when presenting the quarterly Inflation report, which has created a GBP breakout. The PREMIUM SERVICE is positioned to take advantage of this… trades are in position as I have several limit orders in position to get back into LIVE trading again.\r\n\r\nThe Australian Jobs data last Wednesday were poor and although the AUD initially fell it has bounced back strongly on the back of the aforementioned squeeze and continued higher on the back of U.S. equities posting new highs. It is in fact from the lows post jobs data to highs today a move of 125 pips or so, which, does not sound much but we have a very dovish rate-cutting RBA in play. They will NOT be happy with levels above 0.7700.\r\n\r\nSo, the PREMIUM SERVICE enters next week a little over flat for the month and actually almost on target for 2015. I have LIMIT ORDERS in place plus a few trade ideas in my head that I need to confirm by chart analysis to hopefully capture some nice profitable trades once more. I am hoping that next week I can start off the blog with something other than “Doom and Gloom”.\r\n\r\nTime will tell.\r\n\r\n&nbsp;\r\n<ol start=\"2\">\r\n	<li><strong><span style=\"text-decoration: underline;\"> WHAT’S ON MY MIND: -\r\nTHE FUNDAMENTAL TRADERS OVERVIEW:</span></strong></li>\r\n</ol>\r\n<p style=\"text-align: center;\"><strong>FUNDAMENTALLY, IN SPITE OF RECENT MOVES I AM STILL A USD BULL</strong></p>\r\nLast week I talked about “Merry go-rounds” and “Roller Coasters” and to a large extent I think that we are still at Six Flags, Alton Towers or a Disney Theme Park.\r\n\r\nWhether we are near the end of the ride or about to go and line up again for another thrill-seeking adventure, I wish I knew.\r\n\r\nBut I do know that all markets are still over-stretched and valuations are also being stretched in equities. The constant desire for value in equities and the fact that markets all over the world are instantly accessible, coupled with money flows in or out of a country being instantaneous, means that GREED is driving the ever growing desire for an edge and this GREED is the key driver of increasing volatility. This volatility is best seen right now in Oil and Bonds and general Commodities. It is driving rumours and creating vacuums in flows and when added to the geopolitical events is it any wonder that we have FEAR and GREED dominating matters and for us Forex traders this creates squeezes driven by FEAR and GREED, which have been so volatile, long-lasting and complete washouts of both ends of the trading range suckering both long and short traders and cleaning them out.\r\n\r\nTo be a FOREX trading survivor of this is a credit to your disciplines: -\r\n<p style=\"text-align: center;\"><em>POSITION SIZING\r\n</em><em>RISK MANAGEMENT\r\n</em><em>PLANNING YOUR TRADES and TRADING YOUR PLAN\r\n</em><em>RISK ASSESSMENT</em></p>\r\nI have had six or seven different PREMIUM SERVICE subscribers telling me of their own experiences over the past few days and so far in 2015 overall, in addition, they have asked me about what are my thoughts for the coming weeks and months ahead.\r\n\r\nHave my FUNDAMENTAL views altered?\r\n\r\nThe obvious answer is that if I knew what was about to happen, I would not be writing this blog!\r\n\r\nI gave answers to my subscribers roughly as follows and being able to take time away from charts and price movements to explain in a little more detail is good karma.\r\n\r\nI am FUNDAMENTALLY long the USD for the following basic and straightforward reason: - CENTRAL BANK DIVERGENCES.\r\n\r\nPlus, like it or not when it all comes down to Central Bank policies, lets face it the FED is king. This year whether it be the right thing to do or not the FED is going to raise interest rates in the U.S. They simply CANNOT AFFORD not to, should they back track they will be fu**ed as the markets would never believe another word about their monetary policy statements ever again. It is that simple in my opinion.\r\n\r\nEven with the recent geopolitical data surrounding GREECE and UKRAINE, domestic life in the U.S. goes on and economic data worldwide continues to be released. Whether you believe the released data is another matter. The recent 35% error in employment data in 2014 recently corrected by the Canadian Government being a case in point. Markets move on the data and we have allowed Governments the luxury of corrections the following month. In my eyes this shows poor management and it gives ineffective politicians an excuse. Having said that did anyone in Ottawa get sacked for the unheard of amendment in Canadian data?\r\n<p style=\"text-align: center;\"><strong><em>Here was my tweet on January 29<sup>th</sup> 2015 from @pipaccumulator\r\nCANADA NEEDS ACCOUNTANTS:\r\n</em><em>Canadian labor market added +121.3K jobs in 2014, NOT +185.7K as originally estimated. That\'s a -34.7% revision!</em></strong></p>\r\nMoving back on track….\r\n\r\nThe FED and the BOE with “anyway the winds blow Carney” at the helm are in the raising interest rates camp… THE HAWKS.\r\n\r\nThe BOJ, ECB, RBA, BOC and SNB are on the other side… THE DOVES.\r\n\r\nThe RBNZ as far as I’m concerned, the jury is out… THE NOT QUITE SURE.\r\n\r\nI know that I am re-iterating content that I have used in a similar form before but it is still valid.\r\n\r\nThe markets are basically all about Commodities and Central Banks. It is this relationship that is crucial. Right now there is divergence, my lead indicators are screwed up: -\r\n<p style=\"text-align: center;\"><em>AUD/USD\r\nAUD/JPY\r\n</em><em>USD/CAD\r\n</em><em>GOLD\r\n</em><em>OIL\r\n</em><em>COPPER\r\n</em><em>USD/SEK</em></p>\r\nHowever, the Central Banks still have the power to move markets, some are temporary one is NOT. The FED is the king to direct and move markets domestically and more importantly internationally and therefore this is my overriding key driver for my belief that my FUNDAMENTAL view that I should be biased to being long the USD still holds strong in my decision making process.\r\n\r\nNow…\r\n\r\nNot everything is a straight-line movement; there is intra-day volatility that produces stair steps in the overall direction.\r\n\r\nThe USD index is banging its head on resistance once again looking possibly set to make a run at a triple digit handle. This is HUGE… I mean REALLY HUGE.\r\n\r\nBig support or resistance levels in whatever financial markets you look at create a period of consolidation prior to attempting a breakout or breakdown, thus we are in effect entering ranging markets. As a Forex trader that is what we have today. Just for good measure these extremes also cause the flush outs / squeezes as well, but as stated earlier these I believe are rooted in basic FEAR and GREED. As we all know the two key drivers of the Forex market are FEAR and GREED.\r\n\r\nThe question that I still cannot answer to my PREMIUM SERVICE subscribers that posed it, it for how long do we consolidate and range trade?\r\n\r\nThere are many traders out there having the time of their lives because they have the knack of range trading. I am fecking awful at range trading… I suck.\r\n\r\nAll that said what should one do?\r\n\r\nIn my opinion, I think it is just the core traits of a Forex trader that need to be re-visited and maybe slightly re-aligned for the time being.\r\n\r\nFirstly, manage POSITION SIZES a little below usual sizes. Remember longevity in trading can only be achieved through effective MONEY and RISK MANAGEMENT.\r\n\r\nSecondly, maybe reduce the number of active LIVE TRADES to allow you better management of trades in case you need to adjust.\r\n\r\nThirdly, protect profits earlier than maybe you would do. You can always use the “woulda coulda shoulda” retort to a bad trade, but you should never complain if you are banking $$$$. Isn’t this what trading is about?\r\n\r\n&nbsp;\r\n<ol start=\"3\">\r\n	<li><strong><span style=\"text-decoration: underline;\"> THE PREMIUM SERVICE:</span></strong></li>\r\n</ol>\r\n<strong><span style=\"text-decoration: underline;\">SUMMARY OF PERFORMANCE:</span></strong>\r\n\r\n<span style=\"text-decoration: underline;\">3.1 OVERVIEW:</span>\r\n\r\nFor 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, PROMOTIONS (if available), SIGN-UP and DISCLAIMER. Further details and how to join are all contained there. You will need at PayPal account to subscribe.\r\n\r\n<span style=\"text-decoration: underline;\">3.2 PREMIUM SERVICE – SUBSCRIPTION COSTS:</span>\r\n\r\nFull details regarding the PREMIUM SERVICE can be found on my website <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a>\r\n\r\nOn the welcome page there are a series of TABS at the top of the page that provide a summary of what the PREMIUM SERVICE is about and what you receive for your subscription.\r\n\r\nTHE 2015 SUBSCRIPTION BREAKDOWN IS AS FOLLOWS: -\r\n\r\n10 weeks - $200.00\r\n20 weeks - $350.00\r\n40 weeks - $500.00\r\n\r\n<span style=\"text-decoration: underline;\">3.3 TRADING REVIEW OF ACTIVITY and SUMMARY OF PERFORMANCE:</span>\r\n\r\nLast week was another bugger of a week. I gave back hard earned profits from losses on the previous weeks squeeze and a bit more with last Thursday’s action. Being positive my action to cut and level all trades when I did was the best decision looking at what has subsequently transpired.\r\n\r\nIn the past seven days there were some great pips earned on the commodity cross-rate pairs to bring my pip profits back in line but sadly as these trades are of a more volatile nature the $$$ value from these trades is not as high as USD major trades so $$$ wise my trading accounts are still behind objective. When you consider that after the squeeze two weeks ago and the SNB day added the PREMIUM SERVICE has had to recover over 1,200 pips. This has been done, now its down to some nice $$$ trades over the next two / three weeks.\r\n\r\nAs I have written before and there are articles inside the PREMIUM SERVICE website under the EDUCATION TAB titled TRADING ESSENTIALS, where you can find pieces that I have added about TRADING CONSISTENCIES.\r\n\r\nFor me it’s now all about still locating the high probability trades, identifying the places of interest for buyers and sellers, looking at Fibonacci levels, pivot points, SMA’s, “Bollinger’s” and horizontal support and resistances placing trades and sending alerts to subscribers so that we can all earn some $$$.\r\n\r\nIn the past week the ratio between profitable trades and loss making trades has not improved due to trades being cut short in the squeezes and my approach of taking losses just to exit the madness. This will improve as the year progresses as I believe that the methods used in the past to identify high probability trades has not left me, it has just been a series of market moving events outside of my control that has given me this blip. On a more positive point, with the pips total coming back it gives me a great base to work from moving forward.\r\n\r\nI should also mention that if you traded just single lot trades as per the PREMIUM SERVICE suggested trade set-ups your trading account would be positive. It is our desire (GREED), to make more $$$ that makes us trade multiple lots of different lot sizes that creates the difference in performance as some lower value lot trades may have the greatest pip gain and the higher value lot trades may have small losses. When you combine the two, you can have pips without $$$. I had this on one account I traded in 2014, by the year-end trades had balanced out and it made a return of 25%, which, is still considerably more than the bank or a typical stock market return.\r\n\r\nAs I stated earlier it is not all “Doom and Gloom”, you must take a longer-term view of your trading activity.\r\n\r\nThe usual summary charts detailing the week and year to date performances, are below: -\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">3.3.1. – PREMIUM SERVICE PROFIT/LOSS RATIOS:</span>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/PROFIT-LOSS-RATIOS-15022015.png\"><img class=\"aligncenter size-full wp-image-5299\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/PROFIT-LOSS-RATIOS-15022015.png\" alt=\"PROFIT-LOSS RATIOS 15022015\" width=\"401\" height=\"572\" /></a>\r\n\r\n<span style=\"text-decoration: underline;\">3.3.2. – PREMIUM SERVICE RISK/REWARD ANALYSIS:</span>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/RISK-REWARD-15022105.png\"><img class=\"aligncenter size-full wp-image-5300\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/RISK-REWARD-15022105.png\" alt=\"RISK-REWARD 15022105\" width=\"420\" height=\"534\" /></a>\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">3.3.3. – PREMIUM SERVICE OVERALL TRADE SUMMARY MONTH &amp; YTD:</span>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/PREM-SERV-PROFITS1-15022015.png\"><img class=\"aligncenter size-full wp-image-5301\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/PREM-SERV-PROFITS1-15022015.png\" alt=\"PREM SERV PROFITS1 15022015\" width=\"452\" height=\"438\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/PREM-SERV-PROFITS2-15022015.png\"><img class=\"aligncenter size-full wp-image-5302\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/PREM-SERV-PROFITS2-15022015.png\" alt=\"PREM SERV PROFITS2 15022015\" width=\"454\" height=\"428\" /></a>\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">3.4 THE PREMIUM SERVICE – 2015 PROMOTION:</span><strong> </strong>\r\n<p style=\"text-align: center;\"><span style=\"color: #ff0000;\"><strong>PLEASE NOTE THAT THERE ARE ONLY TWO WEEKS LEFT\r\n</strong><strong>THE PROMOTION EXPIRES IN TWO WEEKS</strong></span></p>\r\nKeeping your PREMIUM SERVICE trades separate from your own trades can give you an instant direct performance comparison.\r\n\r\nIf you open a separate account with any of my trading partners / preferred brokers CWMFX, AvaTrade or Blackwell Global, you will be eligible for “BONUS WEEKS” to be added to your subscription.\r\n\r\nThis is in addition to the account-opening bonuses for new clients offered by AvaTrade, (see their website www.avatrade.com for full details), or, Blackwell Global (contact me directly for bonus details)\r\n\r\nThe promotion also applies to CWMFX accounts as well. They offer very tight rate spreads as an alternative to account opening bonuses offered by AvaTrade and Blackwell Global.\r\n\r\nIf you intend to be or are a longer-term position style trader only looking at your computer once a day tight rate spreads may not be as important to you and as such, the AvaTrade or Blackwell Global bonus may be more appealing to you.\r\n\r\nConversely, if you intend to be a more active trader the CWMFX tight rate spreads will be of more interest.\r\n\r\nThe choice is yours.\r\n\r\nThis promotion with my associated trading partners will expire of Saturday 28th\r\n\r\nFebruary 2015…it is really very limited: -\r\n<ol>\r\n	<li><strong>Subscribe to the PREMIUM SERVICE:</strong></li>\r\n</ol>\r\nYou will need to go to the welcome page of my website <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a>\r\n\r\nClick on the sign-up tab at the top of the page.\r\n\r\n2015 PREMIUM SERVICE SUBSCRIPTION RATES\r\n\r\n10 weeks = $200.00\r\n20 weeks = $350.00\r\n40 weeks = $500.00 (full year / annual subscription)\r\n\r\nNOTE: I limit my trading during periods of thin liquidity such as Christmas / New Year and Late July / August summer vacation times.\r\n\r\nHence, 40 weeks is equal to an annual subscription.\r\n<ol start=\"2\">\r\n	<li><strong>Open a LIVE account clicking on the “BANNER” of the broker of your choice on my website.</strong></li>\r\n</ol>\r\nThis will enable you to achieve a trading bonus direct from AvaTrade or BLACKWELL GLOBAL or opt for the tight rate spreads from CWMFX.\r\n\r\nFor Blackwell Global advise me of what you are doing and I will guide you through the process.\r\n\r\nAll the banners are on the welcome page of my website\r\n\r\nwww.weeklyfxdrivethru.com\r\n<ol start=\"3\">\r\n	<li><strong>PREMIUM SERVICE – BONUS WEEKS PROMOTION:</strong></li>\r\n</ol>\r\nOnce the LIVE trading account is confirmed and funded, I will extended\r\n\r\nPREMIUM SERVICE subscription periods as follows after you have advised me what you have done via email at <a href=\"mailto:premiumservice@weeklyfxdrivethru.com\">premiumservice@weeklyfxdrivethru.com</a>: -\r\n<p style=\"text-align: center;\"><span style=\"color: #0000ff;\"><strong>10-week subscriptions will receive a bonus of 5 weeks (15 weeks total)</strong></span>\r\n<span style=\"color: #0000ff;\"><strong>Your subscription would be equivalent to $13.33 per week.</strong></span></p>\r\n<p style=\"text-align: center;\"><span style=\"color: #0000ff;\"><strong>20-week subscriptions will receive a bonus of 10 weeks (30 weeks total)</strong></span>\r\n<span style=\"color: #0000ff;\"><strong>Your subscription would be equivalent to $11.66 per week.</strong></span></p>\r\n<p style=\"text-align: center;\"><span style=\"color: #0000ff;\"><strong>40-week subscriptions will receive a bonus of 20 weeks (60 weeks total)</strong></span>\r\n<span style=\"color: #0000ff;\"><strong>Your subscription would be equivalent to $8.33 per week.</strong></span></p>\r\nThis promotion represents the best offer that I have participated in and has an unbelievable value. It is simply the best that I have ever promoted and is a great way to start trading in 2015.\r\n\r\nIt would hopefully be the start of a very profitable relationship together.\r\n<ol start=\"4\">\r\n	<li><strong>PLEASE NOTE: - THE FOLLOWING CONDITIONS TO THE PROMOTION:</strong></li>\r\n</ol>\r\nOnly broker accounts opened via the banner on my website www.weeklyfxdrivethru.com are accepted for the PREMIUM SERVICE BONUS WEEKS PROMOTION.\r\n\r\nFor the “BONUS WEEKS PROMOTION” in subscription weeks to the\r\n\r\nPREMIUM SERVICE to remain intact you must meet the AvaTrade, Blackwell Global or CWMFX requirements for operating your broker account. Should your account with AvaTrade, Blackwell Global or CWMFX cease to be valid and close the “BONUS WEEKS” segment of the PREMIUM SERVICE promotion will also be withdrawn.\r\n\r\nThis PREMIUM SERVICE “BONUS WEEKS PROMOTION” is only available with this offer and is 100% linked to the AvaTrade, Blackwell Global or CWMFX LIVE accounts being opened via the banners on the welcome page of my website www.weeklyfxdrivethru.com\r\n\r\n&nbsp;\r\n<ol start=\"4\">\r\n	<li><strong><span style=\"text-decoration: underline;\"> PREMIUM SERVICE SUBSCRIBER EXCLUSIVE CONTENT:</span></strong></li>\r\n</ol>\r\n(Section 4 is exclusive PREMIUM SERVICE content only available to PREMIUM SERVICE subscribers)\r\n\r\n<span style=\"text-decoration: underline;\">4.1 EDUCATION:\r\n</span>\r\n\r\n<span style=\"text-decoration: underline;\">4.2 THE PREMIUM SERVICE - EXISTING LIVE TRADES:</span>\r\n\r\n<span style=\"text-decoration: underline;\">4.3 THE PREMIUM SERVICE - TRADES THAT ARE ON MY RADAR:</span>\r\n\r\n<span style=\"text-decoration: underline;\">4.4 MAJOR TRADING PAIRS WITH LONGER-TERM TRENDS MATCHING:</span>\r\n\r\n<span style=\"text-decoration: underline;\">4.5 THE KEY SUPPORT &amp; RESISTANCE LEVELS WITH THE USD MAJORS</span><strong><span style=\"text-decoration: underline;\">:</span></strong>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n<ol start=\"5\">\r\n	<li><strong><span style=\"text-decoration: underline;\"> THE WEEK AHEAD: -\r\nWHAT AM I THINKING &amp; WHAT AM I LOOKING AT?</span></strong></li>\r\n</ol>\r\n<span style=\"text-decoration: underline;\">5.1 MAJOR FOREX NEWS THIS WEEK THAT INTERESTS ME:</span>\r\n\r\nSUNDAY: NZD – Retail Sales.\r\n\r\nMONDAY: AUD – Monetary Policy Meeting Minutes.\r\nMONDAY: EUR – EUROGROUP meetings.\r\n\r\nTUESDAY: GBP - CPi.\r\nTUESDAY: EUR – German ZEW Economic Sentiment.\r\nTUESDAY: NZD – Dairy Auction Prices.\r\n\r\nWEDNESDAY: GBP – Employment Data.\r\nWEDNESDAY: USD – FOMC Meeting Minutes.\r\n\r\nTHURSDAY: N/A.\r\n\r\nFRIDAY: EUR – French and German Flash Manufacturing PMi.\r\nFRIDAY: GBP – Retail Sales.\r\nFRIDAY: CAD – Core Retail Sales.\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">5.2 FINAL THOUGHTS / CLOSING COMMENTS:</span>\r\n\r\nI think that GREECE and the EUROZONE will be the dominant news factors this coming week.\r\n\r\nAs I always say with all events EUROZONE watch out for the sound-bytes from the many politicians and hangers-on who just love their 30 seconds of fame.\r\n\r\nBe careful of Nowotny and Schaeuble, they are pains in the ass for liking the sounds of their own voices, even if what they say is utter boll**ks or bulls**t.\r\n\r\nThere will be trades to trade and there will be some great opportunities, please trade in line with your RISK MANAGEMENT parameters from your TRADING PLAN. If you do not have a TRADE PLAN, in my opinion, you should, as this will help you with consistency.\r\n<p style=\"text-align: center;\"><strong>Consistency = longevity in trading and that is a critical goal.\r\nIT IS THE KEY MEASUREMENT</strong></p>\r\nBefore you enter a trade work out the risk, price it in $$$. Place your stop accordingly. PREMIUM SERVICE subscribers have a full library of information on RISK MANAGEMENT, RISK TOLERANCES and POSITION SIZING etc. available for reference 24x7.\r\n\r\nTake care.\r\n\r\nScott Pickering\r\nThe Pip Accumulator\r\nSunday February 15th 2015\r\n\r\nEMAIL / FOLLOW ME AT:\r\ndrivethru@weeklyfxdrivethru.com\r\nTwitter: @pipaccumulator\r\n<span style=\"line-height: 1.5;\">Google+/scottpickering\r\n</span>Tumblr: thepipaccumulator\r\n\r\n&nbsp;\r\n\r\n<strong><span style=\"text-decoration: underline;\">DISCLAIMER &amp; OTHER DATA:</span></strong>\r\n\r\n<span style=\"text-decoration: underline;\">SUBSCRIBING TO THE “FREE VERSION” OF THE WEEKLY FX DRIVE THRU:</span>\r\n\r\nIf you like what you have almost completed reading and want to have THE WEEKLY FX DRIVE THRU delivered direct to your email inbox next week, here is what you do: -\r\n\r\nGo to my website: - <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a>\r\n\r\nOn 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.\r\n\r\nI do NOT sell your email data to anyone…do not worry.\r\n\r\n<span style=\"text-decoration: underline;\">THIRD PARTY COMPANIES WITH BANNERS ON MY WEBSITE:</span>\r\n\r\nThere 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.\r\n\r\nUnlike 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.\r\n\r\nBy virtue of the fact, I work with these companies almost daily. I am more than confident to have them advertise on my website.\r\n\r\nAny 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.\r\n\r\n<span style=\"text-decoration: underline;\">TRADING &amp; PERFORMANCES DISCLAIMER:</span>\r\n\r\nFLASH, 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.','FUNDAMENTALLY, IN SPITE OF RECENT MOVES I AM STILL A USD BULL','','inherit','open','closed','','5319-revision-v1','','','2015-02-15 07:12:34','2015-02-15 12:12:34','',5319,'https://weeklyfxdrivethru.com/5319-revision-v1/',0,'revision','',0),(5328,1,'2015-02-15 07:27:45','2015-02-15 12:27:45','<section class=\"one-sixth first\">\r\n<h4>Completed Trades Risk/Reward Analysis Archives</h4>\r\n<div class=\"menu\"><a class=\"flashmenu-item\" href=\"#\">2015</a></div>\r\n</section><section class=\"five-sixths\">\r\n<div class=\"one-half first\">\r\n<h2>This Year\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/RISK-REWARD-15022105.png\"><img class=\"aligncenter size-full wp-image-5300\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/RISK-REWARD-15022105.png\" alt=\"RISK-REWARD 15022105\" width=\"420\" height=\"534\" /></a></h2>\r\n&nbsp;\r\n\r\n</div>\r\n<div class=\"one-half\">\r\n<h2>PREVIOUS YEARS\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/12/PREM-SERV-RISK-REWARD-31122014-YTD.png\"><img class=\"aligncenter size-full wp-image-4964\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/12/PREM-SERV-RISK-REWARD-31122014-YTD.png\" alt=\"PREM SERV RISK-REWARD 31122014 YTD\" width=\"436\" height=\"543\" /></a></h2>\r\n</div>\r\n</section>','COMPLETED TRADES RISK / REWARD ANALYSIS','','inherit','open','closed','','5006-revision-v1','','','2015-02-15 07:27:45','2015-02-15 12:27:45','',5006,'https://weeklyfxdrivethru.com/5006-revision-v1/',0,'revision','',0),(5329,1,'2015-02-15 07:28:32','2015-02-15 12:28:32','<section class=\"pdf-links\">\r\n<div class=\"one-third first\">\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/02/TRADING-WITH-ATRs.pdf\">TRADING WITH ATR\'s</a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/02/HEDGING.pdf\">HEDGING</a>\r\n\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\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/03/FOLLOWING-YOUR-TRADING-PLAN-.pdf\">FOLLOWING YOUR TRADING PLAN</a>\r\n\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\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/03/MANAGING-RISK.pdf\">MANAGING RISK</a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/03/STOP-PLACEMENT.pdf\">STOP PLACEMENT</a>\r\n\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\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/04/TRADING-AROUND-THE-NEWS.pdf\">TRADING AROUND THE NEWS</a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/04/HANDLING-NEWS-WITH-AN-OPEN-POSITION.pdf\">HANDLING NEWS WITH AN OPEN POSITION</a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/04/LIVE-ACCOUNT-vs-DEMO-ACCOUNT.pdf\">LIVE ACCOUNT vs DEMO ACCOUNT</a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/04/TRADING-WITH-A-FLEXIBLE-MINDSET.pdf\">TRADING WITH A FLEXIBLE MINDSET</a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/05/PROBABILITIES-IN-TRADING.pdf\">PROBABILITIES IN TRADING</a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/05/TRADING-PSYCHOLOGY-AND-DRAWDOWNS.pdf\">TRADING PSYCHOLOGY AND DRAWDOWNS</a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/05/TRADING-PSYCHOLOGY-RECENCY-BIAS.pdf\">TRADING PSYCHOLOGY - RECENCY BIAS</a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/06/A-MATHEMATICAL-APPROACH-TO-ELIMINATING-EMOTIONS.pdf\">A MATHEMATICAL APPROACH TO ELIMINATING EMOTIONS</a>\r\n\r\n</div>\r\n<div class=\"one-third\">\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/01/ARE-YOU-FORCING-TRADES_.pdf\">ARE YOU FORCING TRADES_</a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/06/TIPS-IN-ADJUSTING-TO-THE-FOREX-MARKET-WHEN-THERE-IS-LOW-VOLATILITY.pdf\">TIPS IN ADJUSTING TO THE FOREX MARKET WHEN THERE IS LOW VOLATILITY</a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/09/TIPS-ON-GETTING-BACK-INTO-TRADING-AFTER-A-BREAK.pdf\">TIPS ON GETTING BACK INTO TRADING AFTER A BREAK</a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/07/FX-BROKERS-PART-1.pdf\">FX BROKERS -PART 1</a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/07/FX-BROKERS-PART-2.pdf\">FX BROKERS - PART 2</a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/09/TRADING-MISTAKES-THAT-MAY-BE-LIMITING-YOUR-PROFITABILITY.pdf\">TRADING MISTAKES THAT MAY BE LIMITING YOUR PROFITABILITY</a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/09/TRADING-OUTSIDE-OF-YOUR-COMFORT-ZONE.pdf\">TRADING OUTSIDE OF YOUR COMFORT ZONE</a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/09/ARE-YOU-PREDICTING-PRICE-ACTION_.pdf\">ARE YOU PREDICTING PRICE ACTION</a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/10/DONT-GIVE-UP-ON-YOUR-TRADE-PLAN.pdf\">DON\'T GIVE UP ON YOUR TRADE PLAN</a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/10/HOW-TO-ADJUST-TO-CHANGING-TRADING-CONDITIONS.pdf\">HOW TO ADJUST TO CHANGING TRADING CONDITIONS</a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/10/HOW-TO-HANDLE-YOUR-FOREX-TRADING-WORRIES.pdf\">HOW TO HANDLE YOUR FOREX TRADING WORRIES</a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/11/3-WAYS-TO-ENHANCE-YOUR-FOREX-TRADING-SKILLS.pdf\">3 WAYS TO ENHANCE YOUR FOREX TRADING SKILLS</a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/11/THE-STAGES-OF-LOSS-IN-FOREX.pdf\">THE STAGES OF LOSS IN FOREX</a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/11/ARE-YOU-A-GREEDY-FOREX-TRADER_.pdf\">ARE YOU A GREEDY FOREX TRADER_</a>\r\n\r\n</div>\r\n<div class=\"one-third\">\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/11/SEVERAL-WAYS-TO-OVERCOME-TRADING-BURNOUT.pdf\">SEVERAL WAYS TO OVERCOME TRADING BURNOUT</a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/11/HOW-YOUR-PHYSICAL-WELL-BEING-AFFECTS-YOUR-FX-TRADING.pdf\">HOW YOUR PHYSICAL WELL-BEING AFFECTS YOUR FX TRADING</a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/12/5-OF-THE-WORST-EXCUSES-TO-NOT-START-TRADING.pdf\">5 OF THE WORST EXCUSES TO NOT START TRADING</a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/01/MY-APPROACH-ON-POSITION-SIZING.pdf\">MY APPROACH ON POSITION SIZING</a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/01/8-QUICK-REMINDERS-BEFORE-MAKING-YOUR-2015-TRADING-GOALS.pdf\">8 QUICK REMINDERS BEFORE MAKING YOUR 2015 TRADING GOALS</a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/01/IDEAS-THAT-MAYBE-YOU-SHOULD-ADD-TO-YOUR-FOREX-TRADING-RESOLUTIONS.pdf\">IDEAS THAT MAYBE YOU SHOULD ADD TO YOUR FOREX TRADING RESOLUTIONS</a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/POSITION-SIZING...TIPS-ON-HOW-TO-AVOID-RISKING-TOO-MUCH.pdf\">POSITION SIZING...TIPS ON HOW TO AVOID RISKING TOO MUCH</a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/HOW-TO-PLAN-YOUR-FOREX-TRADE-EXITS.pdf\">HOW TO PLAN YOUR FOREX TRADE EXITS</a>\r\n\r\n&nbsp;\r\n\r\n</div>\r\n</section>\r\n<div class=\"one-half first\">These resources are in PDF format that will allow for easy printing</div>','Trading Essentials','','inherit','open','closed','','2538-revision-v1','','','2015-02-15 07:28:32','2015-02-15 12:28:32','',2538,'https://weeklyfxdrivethru.com/2538-revision-v1/',0,'revision','',0),(5344,1,'2015-02-21 15:32:00','2015-02-21 20:32:00','','REASONS WHY SO MANY TRADERS FAIL','','inherit','open','closed','','reasons-why-so-many-traders-fail','','','2015-02-21 15:32:00','2015-02-21 20:32:00','',0,'https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/REASONS-WHY-SO-MANY-TRADERS-FAIL.pdf',0,'attachment','application/pdf',0),(5356,1,'2015-02-21 15:54:32','2015-02-21 20:54:32','<h3 style=\"text-align: center;\"><strong>THE PREMIUM SERVICE\r\n</strong><strong>(The Home of Single-Lot $$$$ Trading)</strong></h3>\r\n<strong>DATE: 22.02.2015\r\n</strong><strong style=\"line-height: 1.5;\">REFERENCE: #48\r\n</strong><strong>BLOG: THE PREMIUM SERVICE</strong>\r\n\r\n&nbsp;\r\n<ol>\r\n	<li><strong><span style=\"text-decoration: underline;\"> INTRODUCTION / LOOKING BACK OVER THE PAST WEEK:</span></strong></li>\r\n</ol>\r\nAt last, after a number of what I am calling Forex Tsunami’s over the past three weeks or so (SNB, ECB QE and a few rocking short squeezes), we had by comparison a normal week, although I must caveat this by saying the news surrounding Greece has kept the markets choppy, in fact let me be serious the markets around the Greek news were just plain stupid. Stupid is a great word but not as farcical as the press releases surrounding the infamous letter that was presented to the Germans by the Greek government which the Germans rejected.\r\n\r\nIt was the wrong letter that was sent to the EUROGROUP… for the love of God…give me a fecking break. What are we here…children trying to get out of gym class at school?\r\n\r\nIf that is not enough, the deal is still not done. In fact, I talk about it later so let me just stop there after just one or two more digs …. but, my oh my what an absolute shower of nonsense the EUROZONE is.\r\n\r\nIt is badly formulated, badly designed, and poorly managed by a collection of politicians who are not problem solvers but blame attributers. The EUROZONE bureaucrats are becoming fat on the constant hospitality driven cheese and fine wines industry, which is the only one to have really grown in the EUROZONE in the past 8 years.\r\n\r\nIt is an absolute mess, it is as I have said on sooooooooooooo many occasions before, a case of trying to fit a square peg in a round hole which just won’t work. Later…\r\n\r\nI move on….\r\n\r\nCombine the EUR choppiness with oil volatility and it has been a choppy market, but at the same time we have been operating within trading ranges for the week, albeit that one or two of them may have extended, it is still fundamentally a range bound market in Forex at the moment.\r\n\r\nPersonally, during the week I over-traded a couple of times and fell foul of these trades. My discipline is much better than it was when I first started trading and I do consider myself to be quite disciplined, but I do get caught up in the excitement of trading at times. I ended the week feeling much happier than I was at the start of the week from a macro viewpoint but I did get suckered into a few trades I would have been better to ignore.\r\n\r\nFrom a market perspective, I am disappointed that all the over-hanging directional fundamental news that we have is on the back burner as we run through the GREECE versus GERMANY bailout / loan extension, or possibly the GREXIT / default and the, “Is Oil dropping to $20 or not” questions?\r\n\r\nThere are still a number of geopolitical issues that are bubbling under such as the conflict in UKRAINE. I am still trying to work out the reasons for Merkel and Hollande traveling to meet Putin to broker a ceasefire that the whole western world knew would fail. We have on-going ISIS issues, although it looks like however tragic the stories may be of be-headings and torchings, we unfortunately have the “its over there not over here” factor in play. Whilst we are led to believe progress is being made in the mission against ISIS the killings are of a higher profile and make most of the headlines.\r\n\r\nThe last FED meeting minutes were released to an absolute thunder of comments in blogs and of course on twitter. The twitter explosion was unreal regarding whether or not the FED should raise rates this year and when. Some quite remarkable comments were posted. Emotions ran high regarding Yellen over-seeing what is best for the United States, following, what appeared to be a more dovish stance from the FED.\r\n\r\nMy thoughts are; these minutes were from the FED meeting which was held before the recent PMi and NFP data was released, so to be honest, how relevant are they, the data is of more importance than the minutes, so lets just move on. Janet Yellen speaks twice this coming week in Washington. I think we have the opportunity to hear a more relevant up-to-date view on where the FED’s position lies then.\r\n\r\nNot much publicity, but the ECB released its first set of minutes from its last meeting. Very interesting stuff and I must say for a central bank that claims complete independence, the minutes did include the odd political comment. The political comment looked to be of Germanic extraction… Was für eine Überraschung (quelle surprise)!!\r\n\r\nWe have some great fundamentals in the market that should set us up with directional trading in the coming weeks. I think that my most used word in the past two weeks, either on twitter is my blogs has been patient or patience. Forex trading is all about this. It is waiting for the trades to come to you based upon your research and analysis.\r\n\r\nI have spoken with about 10-15 traders in the past few days on email, twitter or SKYPE. A consistent theme and frustration came through in these conversations around the question of “when will this nonsense end?”, coupled with talk of the difficult markets full of chop bringing strange moves at times and far too many squeezes.\r\n\r\nWe know that we should have good fundamentals to trade from day-to-day (see below), however, moves are at times bizarre and are at complete odds with the fundamentals. I think the reason for this is very clear - the market is completely headline driven. The markets are driven by FEAR and GREED and right now FEAR drives the Forex market hence the chop, hence the volatility and hence the fact the most flippant comment can move a currency. We are being driven by headlines. That was totally without question visible last Friday with the GREECE nonsense.\r\n\r\nMy only comment is that patience is the answer. Look at what we have when we normalize again: -\r\n<ul>\r\n	<li>We have the highly speculative Oil market ready to take a death plunge into the unknown. We have targets of sub $40; Citi looking for TV time state $20.</li>\r\n	<li>We have GOLD on the brink of what I think could be a substantial move lower. I think the $1,000.00 level will be challenged this year.</li>\r\n	<li>Copper is still trending lower. If we break below $2.00 the move lower will intensify.</li>\r\n	<li>China is still struggling. This is difficult at times based upon whether you believe the data releases or not. The GDP rate is sliding year on year since 2012 and with demand for goods lower worldwide, it stands to reason that output will decrease and the need for commodities will also be lower.\r\n(see the chart below)<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/CHINA-GDP-GROWTH-22022015.png\"><img class=\"aligncenter size-full wp-image-5343\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/CHINA-GDP-GROWTH-22022015.png\" alt=\"CHINA GDP GROWTH 22022015\" width=\"750\" height=\"320\" /></a></li>\r\n	<li>We have Central Bank divergences. That should be giving us directional trades. The FED and BOE are hawkish. The ECB, BOJ, RBA and BOC are dovish. The RBNZ is not sure and the SNB can’t be trusted.</li>\r\n	<li>I am also noticing divergence with the USD/JPY to U.S. equities. This is something that may be bigger than we all think moving forward. There are reasons for this that are mainly rumours and corridor comments at the moment.</li>\r\n</ul>\r\nI could list more but the simple fact is that I think we need to be patient.\r\n\r\nRegular readers of my blogs will know that I use the phrase a lot referring to the markets as being all about commodities. Commodities drive the markets.\r\n\r\nWhen I switch on my trading computers in the morning I always take a look at my lead indicators: - GOLD, OIL, COPPER, DXY, S&amp;P futures, AUD/USD, USD/CAD, USD/SEK and the AUD/JPY.\r\n\r\nI look for correlations and divergences. Of late, these have not always been in play, e.g. U.S equities rally the AUD/JPY and USD/JPY relationship is mostly off at the moment. GOLD and the USD (DXY) rally at the same time, usually this is an inverse relationship. Copper moves lower the AUD moves higher etc etc\r\n\r\nI realize that correlations will not always happen but when you have a pattern of non-correlation you know to be on your guard and look a bit further, it is something else to consider.\r\n\r\nLike many traders the discipline to be sidelined just watching, is as difficult for me as everyone else. I am a lot better at it than I used to be, in fact, substantially better but I still get suckered in at times; I am human.\r\n\r\nPatience is the key.\r\n\r\nFinally, I was asked about this during the week. My relationship with FXCM has now ended. I tried to get a reasonable settlement to the GBP/CHF loss on ”SNB Day”. They were just not interested. I have therefore parted company. If any reader was thinking of signing up with FXCM by clicking on their banner on my website, please choose another broker that has a banner such as, CWMFX, BLACKWELL GLOBAL or AVATRADE. The FXCM banner will be removed early this week.\r\n\r\nI am a little saddened to go, but it is a matter of principle now. I was looking for a gesture of goodwill; I got a gesture all right a raised middle finger!\r\n\r\n&nbsp;\r\n<ol start=\"2\">\r\n	<li><strong><span style=\"text-decoration: underline;\"> WHAT’S ON MY MIND: -\r\nTHE FUNDAMENTAL TRADERS OVERVIEW:</span></strong></li>\r\n</ol>\r\n<p style=\"text-align: center;\"><span style=\"text-decoration: underline;\"><strong>EUROGROUP v GREECE… IT’S NOT OVER YET</strong></span></p>\r\nWTF.\r\n\r\nI could write for hours on this…. where do I start and how do I keep this brief?\r\n\r\nThere is a sitcom in this news event, never have I witnessed such a bloody circus since Billy Smarts pulled into Wavertree Playground in Liverpool. At the time I think I was 8, which this fact in itself tells you how long I have waited for Act II.\r\n\r\nThe Syriza Party lads certainly know how to put on a show. The two flutes Alex Tsipras (Prime Minister) and Yanis Varoufakis (Finance Minister) waltz into Brussels with no money, turn the bloody markets upside down, provide some sort of schoolboy prank on poor Schaeuble and the rest of the EUROGROUP, by claiming that their letter of February 18<sup>th</sup> should not have been sent, it was an error…and that the correct one was still at home….come on lads give us a fecking break here, this is 2015 you guys without ties have proper jobs now.\r\n\r\nEnough of this, so at the end of the day the six month extension turns out to be a four month extension instead. But it is cemented into place only if the Greek government fulfill in writing certain guarantees about reforms that the EUROGROUP (Germany) has insisted upon. The Greeks have until Tuesday to do this. Job done the EUROZONE is fixed. Fixed my a**e.\r\n\r\nThis is not done, there is NO DONE DEAL. It is the usual EUROZONE can kicking, can’t make f***ing decision fudge.\r\n\r\nThe basic reasons for this is are that the EUROGROUP fears CONTAGION and even more basic, what politician in the EUROZONE wants to be the one going into the history books as the one who broke up the EUROZONE. We all know GREECE has no money and cannot pay whatever is agreed or worked out.\r\n\r\nThe politicians involved and the bureaucrats hired in Brussels are not problem solvers.\r\n\r\nPoliticians are only interested in votes, popularity, expense accounts, cheese and fine wines. Politicians attribute blame… they point fingers it was not me - look at them its their fault. That is what they do best. Most of them have zero business experience and if they had they were far removed from the sharp end.\r\n\r\nThe Bureaucrats (non-elected) are mere puppets of EUROZONE politicians and the national politicians on dotted line relationships, so no real boss. They are mere pen pushing, desk sucking, jotter blotters.\r\n\r\nThe EUROZONE or as it was once called THE EUROPEAN UNION has never acted like a union since its inception.\r\n\r\nIts members from all over Europe, simply cannot all agree on the same subject. There is no collective foreign policy, no common social chapter, no taxation agreement on private citizens, no taxation harmony on how to treat companies whether domestic or multi-national, no banking union…the list is endless.\r\n\r\nBasically dreamt up by Germany and France to compete at the time with EFTA (European Free Trade Agreement) the EUROPEAN UNION simply is a not a union.\r\n\r\nGermany is the powerhouse of the EUROZONE with all the money, it has a great export tradition, a great reputation for quality in all it manufactures and it operates tight fiscal and monetary controls.\r\n\r\nCompare Germany to most of the other countries in the EUROZONE…. it is a chalk and cheese comparison.\r\n\r\nThe EUROZONE was brought about when times were good, and there were great ideas, with lots of cheese nibbling and gallons of wine thrown down politician’s necks. It was happy days all around. Nobody ever saw the Financial Crash of 2008.\r\n\r\nThe weaker economies in the EUROZONE; Ireland, Portugal, Spain, Italy, Cyprus and Greece suffered like crazy. Banks were not well capitalized, there were no EUROZONE rules it was a desperate time. Bailouts were hastily arranged to keep the UNION intact. Greece has had bailouts, I have lost count there has been so much restructuring.\r\n\r\nAfter all the German promises that Austerity would work (because they said it would) it just hasn\'t worked. People across Europe have suffered. The EUROZONE as a whole has poor economic data and is in DEFLATIONARY territory. Austerity was so good, that now 7 years after the FED and the BOE the ECB is now introducing QE (Quantitative Easing) as a way to try and grow the EUROZONE economically.\r\n\r\nWhat about poor GREECE?\r\n\r\nBasically there are 29 countries in the EUROZONE, of which 20 of them use the EUR (single-currency). Ignore the outer 9.\r\n\r\nThere are 20 countries basically working off the same cheque-book… think about this…20 different governments, 20 different countries with different problems….20 different parliamentary biases, whether they are left wing, right wing or centre focused, pro Europe or anti Europe. Finally and probably the least significant on the surface, but to people living in 20 different countries who have had their individual identities stolen by Brussels, there are 20 different cultures.\r\n\r\nThe cultural diversity between GREECE and GERMANY is huge…in absolutely everything. Even this past week the present Greek government had a swipe at the Germans for alleged money owed to them from World War II.\r\n\r\nIt’s hot in GREECE there is a “manyana” attitude…in GERMANY it’s wet and cold and the people will do whatever is today, right now, this moment\r\n\r\nWhen it comes to finances in GREECE we have the “It’s close enough don’t worry about it - tomorrow we may find the difference who cares if we don\'t”, sort of attitude. Whereas, in GERMANY by comparison, if you don’t balance the books you are sacked.\r\n\r\nLook it’s dead simple… GERMANY is pooping its pants over CONTAGION risks in the EUROZONE.\r\n\r\nGREECE wants debt relief. Should GREECE get it? If they do Ireland and Portugal would be banging on Angela Merkels front door looking for the same.\r\n\r\nWe go debt relief now or we GREXIT in my opinion.\r\n\r\nThe EUROZONE are professional “Can kickers”. Germany has bought another 4 months of delay (assuming that the Greek government comes up (or wants to) with the assurances that the EUROGROUP wants). We will be here again in 4 months why?\r\n\r\nIts so pure and simple, GREECE has NO money it cannot pay its debts it cannot raise sufficient tax revenues to do so now or in the future. In addition no single politician wants to be the one who broke the EUROPEAN UNION. They will fudge and can kick so they do not have to make a decision. These are politicians they may not be in power when the final crunch day comes…leave it to the next guy to deal with.\r\n\r\nDebt forgiveness no matter how hard a pill to swallow is in my opinion the only way to draw a line under this and Ireland and Portugal, in fact all bailout recipients have to be part of the plan. We are pussy footing around as usual and all it does is create uncertainty for the markets, most of us know we will back to the same subject again very soon (four months).\r\n\r\nNow, if we GREXIT the EUROZONE how would that affect matters. It would take a few months to come into effect but that would be another CONTAGION that I strongly believe would spread…there would be calls for referendums all over Europe with the anti-Europe parties going into overdrive about re-gaining sovereignty with your own currency once again, free to re-value, de-value do whatever you want in your countries bests interests not in the Germans best interests. It would be panic like never seen before. That is why everything will be done to avoid the GREXIT, even a complete and utter bullshit 4-month deal.\r\n\r\nThat is why DEBT RELIEF is the only way out and it must include recipients of bailouts as well.\r\n\r\nThis is not over…. not by a long way.\r\n\r\n&nbsp;\r\n\r\n<strong><span style=\"text-decoration: underline;\"> THE PREMIUM SERVICE:</span></strong>\r\n\r\n<strong><span style=\"text-decoration: underline;\">SUMMARY OF PERFORMANCE:</span></strong>\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">3.1 OVERVIEW:</span>\r\n\r\nFor 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, PROMOTIONS (if available), SIGN-UP and DISCLAIMER. Further details and how to join are all contained there. You will need at PayPal account to subscribe.\r\n\r\n<span style=\"text-decoration: underline;\">3.2 PREMIUM SERVICE – SUBSCRIPTION COSTS:</span>\r\n\r\nFull details regarding the PREMIUM SERVICE can be found on my website <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a>\r\n\r\nOn the welcome page there are a series of TABS at the top of the page that provide a summary of what the PREMIUM SERVICE is about and what you receive for your subscription.\r\n\r\nTHE 2015 SUBSCRIPTION BREAKDOWN IS AS FOLLOWS: -\r\n\r\n10 weeks - $200.00\r\n20 weeks - $350.00\r\n40 weeks - $500.00\r\n\r\n<span style=\"text-decoration: underline;\">3.3 TRADING REVIEW OF ACTIVITY and SUMMARY OF PERFORMANCE:</span>\r\n\r\nIt was better week for trading, I think, in spite of the volatility surrounding the EUROGROUP talks with GREECE. I had a couple of “sucker me in” trades at the end of the week. There is no greater person for self-criticism than myself; I am so annoyed and frustrated that I allowed myself to be suckered in, all my good efforts, so many hours at my desks, so much research and early mornings, (getting up at 2.30AM to trade the European Session), down the drain.\r\n\r\nMoving on to the market overview, we are not yet back to a directional “feel” as mentioned earlier in the blog but the signs are there. The commodity crosses and the CHF pairs offered some nice pip moves. In addition the EUR/GBP short was a nice profitable trade on a couple of occasions.\r\n\r\nI have been very active short the EUR/GBP but fear this may now be over as I am bearish on cable and no longer bullish as I was for the last couple of weeks. It just did not break out, which, has placed the bears back into control once again. The fundamental reasons mentioned earlier support my thoughts to remain bearish for the time being. I need to review the EUR/GBP reaction to both the EUR and GBP moving lower. Most of the times in past is meant stagnation. I do like trading this pair we will have to wait and see.\r\n\r\nRegular readers and subscribers will know that I am not a huge fan of trading the JPY pairs, this is based upon a previous smacking that I took. Yesterday, I left a 30 pip profitable position in the EUR/JPY to go and make coffee. Upon my return to my desk I had been stopped out on a 50-pip loss. The reason for the sudden about turn…was due to the rumours about the Greek government sending the wrong letter to the EUROGROUP requesting the bailout extension…. really! The trade really upset me, and, the fact that it was a JPY related pair just tells me that I am jinxed on this currency.\r\n\r\nI felt that as the week completed (EUROGROUP and GREECE removed) it was a little easier to set limit order trades. This year so far, my limit orders via RADAR TRADES for the PREMIUM SERVICE have under-performed. These were my strongest trades last year. I am both surprised and disappointed. This factor alone gives me a clear objective for my subscribers moving forward.\r\n\r\nNew in this week’s blog is section 4.4. I have been asked to supply more charts in the blog with my thoughts on future trade set-ups. Basically what charts am I looking at and why? What catches my eye on these charts? What trades are possibly there. As also requested I have kept these as clear and clean as possible with as few indicators as possible on them. I have tried to have just Fibonacci’s and Trend lines only. SMA’s, Bollinger Bands etc have been removed. They are stripped down as far as I can to make them easy to follow. You guys make take trades I do not from the thoughts on the charts!\r\n\r\nYear to date the PREMIUM SERVICE trades, had you just traded single-lot trades would have given you profits from the 105 completed trades so far in 2015 as follows: -\r\n<p style=\"text-align: center;\"><strong>MICRO LOT TRADERS:                 $237.00</strong></p>\r\n<p style=\"text-align: center;\"><strong>MINI LOT TRADERS:                      $2,370.00</strong></p>\r\n<p style=\"text-align: center;\"><strong>STANDARD LOT TRADERS:         $23,700.00</strong></p>\r\nThe usual summary charts detailing the week and year to date performances, are below: -\r\n\r\n<span style=\"text-decoration: underline;\">3.3.1. – PREMIUM SERVICE PROFIT/LOSS RATIOS:</span>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/PROFIT-LOSS-RATIO-22022015.png\"><img class=\"aligncenter size-full wp-image-5332\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/PROFIT-LOSS-RATIO-22022015.png\" alt=\"PROFIT-LOSS RATIO 22022015\" width=\"408\" height=\"586\" /></a>\r\n\r\n<span style=\"text-decoration: underline;\">3.3.2. – PREMIUM SERVICE RISK/REWARD ANALYSIS:</span>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/RISK-REWARD-22022015.png\"><img class=\"aligncenter size-full wp-image-5331\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/RISK-REWARD-22022015.png\" alt=\"RISK-REWARD 22022015\" width=\"436\" height=\"534\" /></a>\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">3.3.3. – PREMIUM SERVICE OVERALL TRADE SUMMARY MONTH &amp; YTD:</span>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/PREM-SERV-PROFITS1-22022015.png\"><img class=\"aligncenter size-full wp-image-5333\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/PREM-SERV-PROFITS1-22022015.png\" alt=\"PREM SERV PROFITS1 22022015\" width=\"450\" height=\"424\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/PREM-SERV-PROFITS2-22022015.png\"><img class=\"aligncenter size-full wp-image-5334\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/PREM-SERV-PROFITS2-22022015.png\" alt=\"PREM SERV PROFITS2 22022015\" width=\"472\" height=\"433\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n<ol start=\"4\">\r\n	<li><strong><span style=\"text-decoration: underline;\">PREMIUM SERVICE SUBSCRIBER EXCLUSIVE CONTENT:</span></strong></li>\r\n</ol>\r\n(Section 4 is exclusive PREMIUM SERVICE content only available to PREMIUM SERVICE subscribers)\r\n\r\n<span style=\"text-decoration: underline;\">4.1 EDUCATION:</span>\r\n(The full list of all items and more from this section can be found in the PREMIUM SERVICE website in the Trade Essential area under the EDUCATION tab.)\r\n<h3 style=\"text-align: center;\"></h3>\r\n<h3 style=\"text-align: center;\"><span style=\"text-decoration: underline;\">REASONS WHY SO MANY TRADERS FAIL</span></h3>\r\nIn my previous articles, I have often discussed the things that can be done to improve one’s trading performance. This time, let’s take a look at some of the reasons why most traders fail.\r\n\r\nIt is said that the failure rate in the Forex industry is very high, with more than 95% of aspiring traders expected to drop out of the game within their first few years of trading. At this rate, you might have a better chance of surviving the Hunger Games than becoming a successful Forex trader!\r\n\r\nIn his book One Good Trade, proprietary trader Mike Bellafiore outlines the main reasons why traders don’t succeed. Although he draws his conclusions from his experience in stock trading, the lessons are generally applicable to Forex trading as well. What is interesting to note is that most of these common mistakes are actually avoidable.\r\n<ol>\r\n	<li><strong> THEY DON’T LISTEN TO THE MARKET</strong></li>\r\n</ol>\r\nAcquiring the necessary trading skills is the easy part, but if you are unable to apply these in the proper context, your skills alone will not generate your desired profits. At the end of the day, it is still the market that will dictate price action so traders who regularly disregard what the market is telling them often end up failing.\r\n\r\nFor instance, if you insist on shorting the EUR/USD even when new fundamental factors pop up and buyers have already taken the pair to new highs, you might need a moment to step back and reassess the situation. Take some time to figure out if there is additional information that carries more weight in terms of determining current price action instead of being stubborn and even adding to your position.\r\n\r\n“The market has rules”, Mike Bellafiore writes. “When one disobey the rules, Mother market reaches into your pocket and takes what is hers. And she doesn’t give it back.<strong> </strong>\r\n<ol start=\"2\">\r\n	<li><strong> THEY DON’T ENJOY TRADING</strong></li>\r\n</ol>\r\nExpertise is a process, which is driven by the genuine desire to learn and do better. Without curiosity and enjoyment for the craft, traders would hardly be motivated to pursue deliberate practice and skill development.\r\n\r\nWhen traders don’t have any love for the game, conducting market analysis and putting in the necessary hours required in mastering the markets will definitely seem like a chore. This explains why most aspiring traders simply decide to give up and pursue something else entirely.<strong> </strong>\r\n<ol start=\"3\">\r\n	<li><strong> THEY SET UNREALISTIC EXPECTATIONS</strong></li>\r\n</ol>\r\nBelieve me, it will take a lot of time and ego-crushing losses before one becomes a consistently profitable trader. There are many things that can be done to speed up the learning curve, but there is no way to completely eliminate it.\r\n\r\nSome newbie traders make the mistake of thinking, that in order to be successful, they should never incur losses. Consequently, they pressure themselves too much and take it hard every time a trade goes against them.\r\n\r\nTo avoid their fate, you have to accept that you will face losses. You will experience losing streaks and undergo drawdowns, which will probably make you feel terrible. Whether you like it or not, you will be on the wrong side of a trade in some instances. But you know what? It’s OK. Even the best Forex traders out there still experience these things\r\n\r\nI know I’ve said this so many times but I can’t stress how important it is for you to respect the process. Not everyone is entitled to make it big. However, you are entitled to work your butt off, train well, and realize your potential to become a good trader.\r\n<ol start=\"4\">\r\n	<li><strong> THEY’D RATHER BE RIGHT THAN MAKE MONEY</strong></li>\r\n</ol>\r\nIt sucks to be wrong. This is why so many people have a hard time swallowing their pride, admitting their mistake and moving on.\r\n\r\nOften in Forex, traders develop a bias on a currency, not that there is anything wrong with it, but the downfall of this is that sometimes they get paralyzed when their trades don’t go as they planned. They stick to their trades, insisting on being right and refusing to exit their already losing positions.\r\n\r\nI’m all for commitment when it comes to relationships and career but when you trade, you should remember that you shouldn’t be emotionally invested in a trade. Successful traders know when they should exit a losing position and they are able to do so quickly.\r\n\r\nTo be consistently profitable, you should always try to make good trades and accept the fact that you cannot control the results.\r\n\r\nBy learning from the common sources of failure, we can know what to look for in our trading habits and know what to avoid. That way, before we even hit the wall of failure, we can already correct your behavior and mindset.\r\n\r\nJust remember that success in Forex trading comes down to listening to the market, loving what you do, setting realistic expectations, and being open to admitting your mistakes.\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">4.2 THE PREMIUM SERVICE - EXISTING LIVE TRADES:</span>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/PS-LIVE-TRADES-22022015.png\"><img class=\"aligncenter size-full wp-image-5342\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/PS-LIVE-TRADES-22022015.png\" alt=\"PS LIVE TRADES 22022015\" width=\"714\" height=\"490\" /></a>\r\n\r\n<span style=\"text-decoration: underline;\">4.3 THE PREMIUM SERVICE – EXISTING LIMIT ORDERS:</span>\r\n\r\nBelow you will find an excel spreadsheet covering the trades that currently are with my brokers with LIMIT ORDERS in place.\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/PS-RADAR-TRADES-22022015.png\"><img class=\"aligncenter size-full wp-image-5341\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/PS-RADAR-TRADES-22022015.png\" alt=\"PS RADAR TRADES 22022015\" width=\"719\" height=\"386\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">PLEASE NOTE:</span>\r\n\r\nRemember position sizes for suggested FUNDAMENTAL TRADES should be much smaller than usual, maybe only 10%-15% of your normal trading position size. It is only when we add to our positions that the fun begins. All FUNDAMENTAL trades posted via email contain a second page with details of where I will add trades and when and where stops are moved, the Stair Stepping Stop Protection (SSSP) is self-explanatory and I hope useful. Using this grows your trading position and helps protect the profits made, should the trade gain traction.\r\n\r\nThis is why I have a separate broker for FUNDAMENTAL trades. It keeps my categories separate and allows me to spread my cash RISK around a few different brokers.\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">4.4 POTENTIAL TRADES - WHAT CHARTS AM I LOOKING AT?</span>\r\n\r\nI have been asked to have more charts in the blog. In particular the ones that I am working on and looking at because they catch my eye that may become potential trades in the trading sessions ahead. All the charts contain my thoughts. I will tweet and email as soon as these possible trades become LIMIT ORDERS.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/AUDUSD-DAILY-22022015.png\"><img class=\"aligncenter size-large wp-image-5355\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/AUDUSD-DAILY-22022015-1024x517.png\" alt=\"AUDUSD DAILY 22022015\" width=\"1024\" height=\"517\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/CADJPY-DAILY-22022015.png\"><img class=\"aligncenter size-large wp-image-5354\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/CADJPY-DAILY-22022015-1024x517.png\" alt=\"CADJPY DAILY 22022015\" width=\"1024\" height=\"517\" /></a>\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<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/EURGBP-60M-22022015.png\">\r\n</a><a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/EURJPY-DAILY-22022015.png\"><img class=\"aligncenter size-large wp-image-5352\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/EURJPY-DAILY-22022015-1024x517.png\" alt=\"EURJPY DAILY 22022015\" width=\"1024\" height=\"517\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/EURJPY-DAILY-22022015.png\"><img class=\"aligncenter size-large wp-image-5352\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/EURJPY-DAILY-22022015-1024x517.png\" alt=\"EURJPY DAILY 22022015\" width=\"1024\" height=\"517\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/EURNZD-DAILY-22022015.png\"><img class=\"aligncenter size-large wp-image-5351\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/EURNZD-DAILY-22022015-1024x517.png\" alt=\"EURNZD DAILY 22022015\" width=\"1024\" height=\"517\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/GBPAUD-DAILY-22022015.png\"><img class=\"aligncenter size-large wp-image-5350\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/GBPAUD-DAILY-22022015-1024x517.png\" alt=\"GBPAUD DAILY 22022015\" width=\"1024\" height=\"517\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/GBPCAD-MONTHLY-22022015.png\"><img class=\"aligncenter size-large wp-image-5349\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/GBPCAD-MONTHLY-22022015-1024x517.png\" alt=\"GBPCAD MONTHLY 22022015\" width=\"1024\" height=\"517\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/GBPNZD-240M-22022015.png\"><img class=\"aligncenter size-large wp-image-5348\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/GBPNZD-240M-22022015-1024x517.png\" alt=\"GBPNZD 240M 22022015\" width=\"1024\" height=\"517\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/USDCAD-240M-22022015.png\"><img class=\"aligncenter size-large wp-image-5347\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/USDCAD-240M-22022015-1024x517.png\" alt=\"USDCAD 240M 22022015\" width=\"1024\" height=\"517\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/USDCHF-240M-22022015.png\"><img class=\"aligncenter size-large wp-image-5346\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/USDCHF-240M-22022015-1024x517.png\" alt=\"USDCHF 240M 22022015\" width=\"1024\" height=\"517\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/USDJPY-240M-22022015.png\"><img class=\"aligncenter size-large wp-image-5345\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/USDJPY-240M-22022015-1024x517.png\" alt=\"USDJPY 240M 22022015\" width=\"1024\" height=\"517\" /></a>\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">4.5 MAJOR TRADING PAIRS WITH LONGER-TERM TRENDS MATCHING:</span>\r\n\r\nThe following currency pairs have Short Term (DAILY), Medium Term (WEEKLY) and Long Term (MONTHLY) charts all trending in the same direction.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/PS-TRENDING-PAIRS-22022015.png\"><img class=\"aligncenter size-full wp-image-5340\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/PS-TRENDING-PAIRS-22022015.png\" alt=\"PS TRENDING PAIRS 22022015\" width=\"384\" height=\"455\" /></a>\r\n\r\nThis is the third week with no real trending pairs to look at. Whether you find this data interesting or not, the mere fact that so few pairs are featured, you should note that we are at inflection points, when currencies may be changing direction. Alternatively, you may choose to dismiss this data as you feel that the numbers of squeezes have affected the directional trends and these indicators need a few more days to show the real trend again.\r\n\r\nMy view is weekly and monthly trends should NOT be changed by a squeeze… we should take note.\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">4.6 THE KEY SUPPORT &amp; RESISTANCE LEVELS WITH THE USD MAJORS</span><strong><span style=\"text-decoration: underline;\">:\r\n</span></strong>(This content is now for PREMIUM SERVICE subscribers only, it allows me to refer to existing and future set-ups that form part of the PREMIUM SERVICE subscription)\r\n\r\n<strong>EUR/USD: Closing Price 1.1381.</strong> Well would you Adam and Eve it? Last weeks closing price was just 1 pip less than the previous weeks close. The banks will have a field day on this data. All the bloody shenanigans and stress for what? Is the GREECE tragedy over? Will we have an Act IV? I wish I knew, I said it before, it is NOT over yet in my opinion. However looking into the early trading this week, I see the range to bear in mind with the EUR/USD to be 1.1260, which is critical support and resistance is pretty good at 1.1450. I am seriously thinking of a limit order at 1.1530 to short and being patient waiting for it to trigger. We have seen wild moves, there is nothing at all in the way with severe volatility for a test at 1.1530.\r\n\r\n<strong>GBP/USD: Closing Price 1.5404</strong>. Last week I thought the cable to be in a break out, now I think the cable is pulling back. It failed to breakout on several occasions. It was held back at 1.5480 after the FED minutes and 1.5440 has also been a tough nut to crack. I am looking at the range being 1.5300 to 1.5480.\r\n\r\n<strong>AUD/USD: Closing Price 0.7846</strong>. I cannot fathom out this pair. It is causing me stress. It is now at the point of being possibly a great short at either 0.7850 or 0.7880. For about a week I had been patiently waiting to enter the AUD/NZD on a pullback to 1.0400. My first attempt was at 1.0490 I would not chase and I was looking for a pullback. It actually traded below 1.0300 for a while. I finally got into the AUD/NZD short on Friday due to AUD strength over the Kiwi for once. Now I am not so sure that I want to short the AUD/NZD. I need the AUD/USD to pullback at 0.7880 to give me the warm and fuzzies over my AUD/NZD short trade. Lets see…the support for the AUD/USD is at 0.7750 and resistance is at 0.7780.\r\n\r\n<strong>NZD/USD: Closing Price 0.7523</strong>. This pair is very annoying and I find it frustrating at times to trade. It is still range bound albeit that the range is now a little broader at 0.7450 to 0.7610. I have my short LIMIT ORDER waiting at this level.\r\n\r\n<strong>USD/CAD: Closing Price 1.2538.</strong> The oil proxy rampage continues plus awful CAD Retail Sales numbers sent this pair and its crosses up like crazy. Where next…support is excellent at 1.2350 and resistance is really now back at 1.2700. This is a wide range but this pair has been moving 150–200 pips per day of late on the back of the volatility surrounding the oil price.\r\n\r\n<strong>USD/CHF: Closing Price 0.9377</strong>. I made good pips and lost $$$ with this pair last week. It still looks bullish. Support is at 0.9350 and resistance is at 0.9540.\r\n\r\n<strong>USD/JPY: Closing Price 119.07. </strong> I have a feeling that the S&amp;P it getting very toppy again. One of these times I will be correct. This pair is not moving in sync with U.S. equities anymore. Some days yes it will for a while the rest of the time its not. This divergence lower coupled with the fact that the BOJ are releasing semi official papers saying that they will do no more QE is leading me to think that the JPY pairs could be very good short trades in the near future. For now support is at 118.20 and resistance at 120.50.\r\n\r\n&nbsp;\r\n<ol start=\"5\">\r\n	<li><strong><span style=\"text-decoration: underline;\"> THE WEEK AHEAD: -\r\nWHAT AM I THINKING &amp; WHAT AM I LOOKING AT?</span></strong></li>\r\n</ol>\r\n<span style=\"text-decoration: underline;\">5.1 MAJOR FOREX NEWS THIS WEEK THAT INTERESTS ME:</span>\r\nSUNDAY: N/A.\r\n\r\nMONDAY: EUR – Draghi (ECB) Speaks.\r\n\r\nTUESDAY: USD – Janet Yellen (FED) Testifies.\r\nTUESDAY: CAD – Poloz (BOC) Speaks.\r\nTUESDAY: CNY – HSBC Flash Manufacturing PMi.\r\n\r\nWEDNESDAY: USD – Janet Yellen (FED) Testifies.\r\nWEDNESDAY: EUR – Draghi (ECB) Speaks.\r\nWEDNESDAY: NZD – Trade Balance.\r\nWEDNESDAY: AUD – PCE.\r\n\r\nTHURSDAY: EUR – Targeted LTRO Data.\r\nTHURSDAY: CAD – Core CPi.\r\nTHURSDAY: USD – Core CPi.\r\nTHURSDAY: NZD – ANZ Business Confidence.\r\n\r\nFRIDAY: EUR – German Preliminary CPi.\r\nFRIDAY: USD – Preliminary GDP.\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">5.2 FINAL THOUGHTS / CLOSING COMMENTS:</span>\r\n\r\nWhat can I say, I am originally from Liverpool; nothing shocks me and nothing really surprises me. You learn the hard way in Liverpool and it sets you up for life.\r\n\r\nTrading Forex I totally enjoy 100%. I find it stimulating, annoying, frustrating, rewarding, fascinating and challenging. At the same time it is sometimes laughable. The funniest item of late was the GREEK LETTER to the EUROGROUP…. we sent the wrong letter… really? Then it was denied, then confirmed, then denied again. Then we hear of an accord being reached in the negotiations followed by denials of such an agreement… incredible stuff.\r\n\r\nThis week we have a lot of Central Bank Presidents speaking; this is more like it in my opinion. Central banks are like dinosaurs, huge oil tankers; they take forever to change direction. When they set out a policy that is it for a long time. I am really hoping for confirmation of recent statements to give the markets certainty moving forward …the markets love clear statements.\r\n\r\nAs always, there will be trades to trade and there will be some great opportunities, please trade in line with your RISK MANAGEMENT parameters from your TRADING PLAN. If you do not have a TRADE PLAN, in my opinion, you should, as this will help you with consistency.\r\n<p style=\"text-align: center;\"><strong>Consistency = longevity in trading and that is a critical goal.\r\nIT IS THE KEY MEASUREMENT</strong></p>\r\nBefore you enter a trade work out the risk, price it in $$$. Place your stop accordingly. PREMIUM SERVICE subscribers have a full library of information on RISK MANAGEMENT, RISK TOLERANCES and POSITION SIZING etc. available for reference 24x7.\r\n\r\nTake care.\r\n\r\nScott Pickering\r\nThe Pip Accumulator\r\nSaturday February 21st 2015\r\n\r\nEMAIL / FOLLOW ME AT:\r\npremiumservice@weeklyfxdrivethru.com\r\nTwitter: @pipaccumulator\r\nTwitter: @ThePremService\r\n<span style=\"line-height: 1.5;\">Google+/scottpickering\r\n</span>Tumblr: thepipaccumulator\r\n\r\n&nbsp;\r\n\r\n<strong><span style=\"text-decoration: underline;\">DISCLAIMER &amp; OTHER DATA:</span></strong>\r\n\r\n<span style=\"text-decoration: underline;\">SUBSCRIBING TO THE “FREE VERSION” OF THE WEEKLY FX DRIVE THRU:</span>\r\n\r\nIf you like what you have almost completed reading and want to have THE WEEKLY FX DRIVE THRU delivered direct to your email inbox next week, here is what you do:\r\n\r\nGo to my website: - <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a>\r\n\r\nOn 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\r\n\r\nI do NOT sell your email data to anyone…do not worry.\r\n\r\n<span style=\"text-decoration: underline;\">THIRD PARTY COMPANIES WITH BANNERS ON MY WEBSITE:</span>\r\n\r\nThere 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.\r\n\r\nUnlike 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.\r\n\r\nBy virtue of the fact, I work with these companies almost daily. I am more than confident to have them advertise on my website.\r\n\r\nAny 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.\r\n\r\n<span style=\"text-decoration: underline;\">TRADING &amp; PERFORMANCES DISCLAIMER:</span>\r\n\r\nFLASH, 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.','EUROGROUP v GREECE… IT’S NOT OVER YET','','publish','open','closed','','eurogroup-v-greece-its-not-over-yet','','','2015-02-21 15:54:32','2015-02-21 20:54:32','',0,'https://weeklyfxdrivethru.com/?post_type=member_posts&#038;p=5356',0,'member_posts','',0),(5357,1,'2015-02-21 15:52:50','2015-02-21 20:52:50','<h3 style=\"text-align: center;\"><strong>THE PREMIUM SERVICE\r\n</strong><strong>(The Home of Single-Lot $$$$ Trading)</strong></h3>\r\n<strong>DATE: 22.02.2015\r\n</strong><strong style=\"line-height: 1.5;\">REFERENCE: #48\r\n</strong><strong>BLOG: THE PREMIUM SERVICE</strong>\r\n\r\n&nbsp;\r\n<ol>\r\n	<li><strong><span style=\"text-decoration: underline;\"> INTRODUCTION / LOOKING BACK OVER THE PAST WEEK:</span></strong></li>\r\n</ol>\r\nAt last, after a number of what I am calling Forex Tsunami’s over the past three weeks or so (SNB, ECB QE and a few rocking short squeezes), we had by comparison a normal week, although I must caveat this by saying the news surrounding Greece has kept the markets choppy, in fact let me be serious the markets around the Greek news were just plain stupid. Stupid is a great word but not as farcical as the press releases surrounding the infamous letter that was presented to the Germans by the Greek government which the Germans rejected.\r\n\r\nIt was the wrong letter that was sent to the EUROGROUP… for the love of God…give me a fecking break. What are we here…children trying to get out of gym class at school?\r\n\r\nIf that is not enough, the deal is still not done. In fact, I talk about it later so let me just stop there after just one or two more digs …. but, my oh my what an absolute shower of nonsense the EUROZONE is.\r\n\r\nIt is badly formulated, badly designed, and poorly managed by a collection of politicians who are not problem solvers but blame attributers. The EUROZONE bureaucrats are becoming fat on the constant hospitality driven cheese and fine wines industry, which is the only one to have really grown in the EUROZONE in the past 8 years.\r\n\r\nIt is an absolute mess, it is as I have said on sooooooooooooo many occasions before, a case of trying to fit a square peg in a round hole which just won’t work. Later…\r\n\r\nI move on….\r\n\r\nCombine the EUR choppiness with oil volatility and it has been a choppy market, but at the same time we have been operating within trading ranges for the week, albeit that one or two of them may have extended, it is still fundamentally a range bound market in Forex at the moment.\r\n\r\nPersonally, during the week I over-traded a couple of times and fell foul of these trades. My discipline is much better than it was when I first started trading and I do consider myself to be quite disciplined, but I do get caught up in the excitement of trading at times. I ended the week feeling much happier than I was at the start of the week from a macro viewpoint but I did get suckered into a few trades I would have been better to ignore.\r\n\r\nFrom a market perspective, I am disappointed that all the over-hanging directional fundamental news that we have is on the back burner as we run through the GREECE versus GERMANY bailout / loan extension, or possibly the GREXIT / default and the, “Is Oil dropping to $20 or not” questions?\r\n\r\nThere are still a number of geopolitical issues that are bubbling under such as the conflict in UKRAINE. I am still trying to work out the reasons for Merkel and Hollande traveling to meet Putin to broker a ceasefire that the whole western world knew would fail. We have on-going ISIS issues, although it looks like however tragic the stories may be of be-headings and torchings, we unfortunately have the “its over there not over here” factor in play. Whilst we are led to believe progress is being made in the mission against ISIS the killings are of a higher profile and make most of the headlines.\r\n\r\nThe last FED meeting minutes were released to an absolute thunder of comments in blogs and of course on twitter. The twitter explosion was unreal regarding whether or not the FED should raise rates this year and when. Some quite remarkable comments were posted. Emotions ran high regarding Yellen over-seeing what is best for the United States, following, what appeared to be a more dovish stance from the FED.\r\n\r\nMy thoughts are; these minutes were from the FED meeting which was held before the recent PMi and NFP data was released, so to be honest, how relevant are they, the data is of more importance than the minutes, so lets just move on. Janet Yellen speaks twice this coming week in Washington. I think we have the opportunity to hear a more relevant up-to-date view on where the FED’s position lies then.\r\n\r\nNot much publicity, but the ECB released its first set of minutes from its last meeting. Very interesting stuff and I must say for a central bank that claims complete independence, the minutes did include the odd political comment. The political comment looked to be of Germanic extraction… Was für eine Überraschung (quelle surprise)!!\r\n\r\nWe have some great fundamentals in the market that should set us up with directional trading in the coming weeks. I think that my most used word in the past two weeks, either on twitter is my blogs has been patient or patience. Forex trading is all about this. It is waiting for the trades to come to you based upon your research and analysis.\r\n\r\nI have spoken with about 10-15 traders in the past few days on email, twitter or SKYPE. A consistent theme and frustration came through in these conversations around the question of “when will this nonsense end?”, coupled with talk of the difficult markets full of chop bringing strange moves at times and far too many squeezes.\r\n\r\nWe know that we should have good fundamentals to trade from day-to-day (see below), however, moves are at times bizarre and are at complete odds with the fundamentals. I think the reason for this is very clear - the market is completely headline driven. The markets are driven by FEAR and GREED and right now FEAR drives the Forex market hence the chop, hence the volatility and hence the fact the most flippant comment can move a currency. We are being driven by headlines. That was totally without question visible last Friday with the GREECE nonsense.\r\n\r\nMy only comment is that patience is the answer. Look at what we have when we normalize again: -\r\n<ul>\r\n	<li>We have the highly speculative Oil market ready to take a death plunge into the unknown. We have targets of sub $40; Citi looking for TV time state $20.</li>\r\n	<li>We have GOLD on the brink of what I think could be a substantial move lower. I think the $1,000.00 level will be challenged this year.</li>\r\n	<li>Copper is still trending lower. If we break below $2.00 the move lower will intensify.</li>\r\n	<li>China is still struggling. This is difficult at times based upon whether you believe the data releases or not. The GDP rate is sliding year on year since 2012 and with demand for goods lower worldwide, it stands to reason that output will decrease and the need for commodities will also be lower.\r\n(see the chart below)\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/CHINA-GDP-GROWTH-22022015.png\"><img class=\"aligncenter size-full wp-image-5343\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/CHINA-GDP-GROWTH-22022015.png\" alt=\"CHINA GDP GROWTH 22022015\" width=\"750\" height=\"320\" /></a></li>\r\n	<li>We have Central Bank divergences. That should be giving us directional trades. The FED and BOE are hawkish. The ECB, BOJ, RBA and BOC are dovish. The RBNZ is not sure and the SNB can’t be trusted.</li>\r\n	<li>I am also noticing divergence with the USD/JPY to U.S. equities. This is something that may be bigger than we all think moving forward. There are reasons for this that are mainly rumours and corridor comments at the moment.</li>\r\n</ul>\r\nI could list more but the simple fact is that I think we need to be patient.\r\n\r\nRegular readers of my blogs will know that I use the phrase a lot referring to the markets as being all about commodities. Commodities drive the markets.\r\n\r\nWhen I switch on my trading computers in the morning I always take a look at my lead indicators: - GOLD, OIL, COPPER, DXY, S&amp;P futures, AUD/USD, USD/CAD, USD/SEK and the AUD/JPY.\r\n\r\nI look for correlations and divergences. Of late, these have not always been in play, e.g. U.S equities rally the AUD/JPY and USD/JPY relationship is mostly off at the moment. GOLD and the USD (DXY) rally at the same time, usually this is an inverse relationship. Copper moves lower the AUD moves higher etc etc\r\n\r\nI realize that correlations will not always happen but when you have a pattern of non-correlation you know to be on your guard and look a bit further, it is something else to consider.\r\n\r\nLike many traders the discipline to be sidelined just watching, is as difficult for me as everyone else. I am a lot better at it than I used to be, in fact, substantially better but I still get suckered in at times; I am human.\r\n\r\nPatience is the key.\r\n\r\nFinally, I was asked about this during the week. My relationship with FXCM has now ended. I tried to get a reasonable settlement to the GBP/CHF loss on ”SNB Day”. They were just not interested. I have therefore parted company. If any reader was thinking of signing up with FXCM by clicking on their banner on my website, please choose another broker that has a banner such as, CWMFX, BLACKWELL GLOBAL or AVATRADE. The FXCM banner will be removed early this week.\r\n\r\nI am a little saddened to go, but it is a matter of principle now. I was looking for a gesture of goodwill; I got a gesture all right a raised middle finger!\r\n\r\n&nbsp;\r\n<ol start=\"2\">\r\n	<li><strong><span style=\"text-decoration: underline;\"> WHAT’S ON MY MIND: -\r\nTHE FUNDAMENTAL TRADERS OVERVIEW:</span></strong></li>\r\n</ol>\r\n<p style=\"text-align: center;\"><span style=\"text-decoration: underline;\"><strong>EUROGROUP v GREECE… IT’S NOT OVER YET</strong></span></p>\r\nWTF.\r\n\r\nI could write for hours on this…. where do I start and how do I keep this brief?\r\n\r\nThere is a sitcom in this news event, never have I witnessed such a bloody circus since Billy Smarts pulled into Wavertree Playground in Liverpool. At the time I think I was 8, which this fact in itself tells you how long I have waited for Act II.\r\n\r\nThe Syriza Party lads certainly know how to put on a show. The two flutes Alex Tsipras (Prime Minister) and Yanis Varoufakis (Finance Minister) waltz into Brussels with no money, turn the bloody markets upside down, provide some sort of schoolboy prank on poor Schaeuble and the rest of the EUROGROUP, by claiming that their letter of February 18<sup>th</sup> should not have been sent, it was an error…and that the correct one was still at home….come on lads give us a fecking break here, this is 2015 you guys without ties have proper jobs now.\r\n\r\nEnough of this, so at the end of the day the six month extension turns out to be a four month extension instead. But it is cemented into place only if the Greek government fulfill in writing certain guarantees about reforms that the EUROGROUP (Germany) has insisted upon. The Greeks have until Tuesday to do this. Job done the EUROZONE is fixed. Fixed my a**e.\r\n\r\nThis is not done, there is NO DONE DEAL. It is the usual EUROZONE can kicking, can’t make f***ing decision fudge.\r\n\r\nThe basic reasons for this is are that the EUROGROUP fears CONTAGION and even more basic, what politician in the EUROZONE wants to be the one going into the history books as the one who broke up the EUROZONE. We all know GREECE has no money and cannot pay whatever is agreed or worked out.\r\n\r\nThe politicians involved and the bureaucrats hired in Brussels are not problem solvers.\r\n\r\nPoliticians are only interested in votes, popularity, expense accounts, cheese and fine wines. Politicians attribute blame… they point fingers it was not me - look at them its their fault. That is what they do best. Most of them have zero business experience and if they had they were far removed from the sharp end.\r\n\r\nThe Bureaucrats (non-elected) are mere puppets of EUROZONE politicians and the national politicians on dotted line relationships, so no real boss. They are mere pen pushing, desk sucking, jotter blotters.\r\n\r\nThe EUROZONE or as it was once called THE EUROPEAN UNION has never acted like a union since its inception.\r\n\r\nIts members from all over Europe, simply cannot all agree on the same subject. There is no collective foreign policy, no common social chapter, no taxation agreement on private citizens, no taxation harmony on how to treat companies whether domestic or multi-national, no banking union…the list is endless.\r\n\r\nBasically dreamt up by Germany and France to compete at the time with EFTA (European Free Trade Agreement) the EUROPEAN UNION simply is a not a union.\r\n\r\nGermany is the powerhouse of the EUROZONE with all the money, it has a great export tradition, a great reputation for quality in all it manufactures and it operates tight fiscal and monetary controls.\r\n\r\nCompare Germany to most of the other countries in the EUROZONE…. it is a chalk and cheese comparison.\r\n\r\nThe EUROZONE was brought about when times were good, and there were great ideas, with lots of cheese nibbling and gallons of wine thrown down politician’s necks. It was happy days all around. Nobody ever saw the Financial Crash of 2008.\r\n\r\nThe weaker economies in the EUROZONE; Ireland, Portugal, Spain, Italy, Cyprus and Greece suffered like crazy. Banks were not well capitalized, there were no EUROZONE rules it was a desperate time. Bailouts were hastily arranged to keep the UNION intact. Greece has had bailouts, I have lost count there has been so much restructuring.\r\n\r\nAfter all the German promises that Austerity would work (because they said it would) it just hasn\'t worked. People across Europe have suffered. The EUROZONE as a whole has poor economic data and is in DEFLATIONARY territory. Austerity was so good, that now 7 years after the FED and the BOE the ECB is now introducing QE (Quantitative Easing) as a way to try and grow the EUROZONE economically.\r\n\r\nWhat about poor GREECE?\r\n\r\nBasically there are 29 countries in the EUROZONE, of which 20 of them use the EUR (single-currency). Ignore the outer 9.\r\n\r\nThere are 20 countries basically working off the same cheque-book… think about this…20 different governments, 20 different countries with different problems….20 different parliamentary biases, whether they are left wing, right wing or centre focused, pro Europe or anti Europe. Finally and probably the least significant on the surface, but to people living in 20 different countries who have had their individual identities stolen by Brussels, there are 20 different cultures.\r\n\r\nThe cultural diversity between GREECE and GERMANY is huge…in absolutely everything. Even this past week the present Greek government had a swipe at the Germans for alleged money owed to them from World War II.\r\n\r\nIt’s hot in GREECE there is a “manyana” attitude…in GERMANY it’s wet and cold and the people will do whatever is today, right now, this moment\r\n\r\nWhen it comes to finances in GREECE we have the “It’s close enough don’t worry about it - tomorrow we may find the difference who cares if we don\'t”, sort of attitude. Whereas, in GERMANY by comparison, if you don’t balance the books you are sacked.\r\n\r\nLook it’s dead simple… GERMANY is pooping its pants over CONTAGION risks in the EUROZONE.\r\n\r\nGREECE wants debt relief. Should GREECE get it? If they do Ireland and Portugal would be banging on Angela Merkels front door looking for the same.\r\n\r\nWe go debt relief now or we GREXIT in my opinion.\r\n\r\nThe EUROZONE are professional “Can kickers”. Germany has bought another 4 months of delay (assuming that the Greek government comes up (or wants to) with the assurances that the EUROGROUP wants). We will be here again in 4 months why?\r\n\r\nIts so pure and simple, GREECE has NO money it cannot pay its debts it cannot raise sufficient tax revenues to do so now or in the future. In addition no single politician wants to be the one who broke the EUROPEAN UNION. They will fudge and can kick so they do not have to make a decision. These are politicians they may not be in power when the final crunch day comes…leave it to the next guy to deal with.\r\n\r\nDebt forgiveness no matter how hard a pill to swallow is in my opinion the only way to draw a line under this and Ireland and Portugal, in fact all bailout recipients have to be part of the plan. We are pussy footing around as usual and all it does is create uncertainty for the markets, most of us know we will back to the same subject again very soon (four months).\r\n\r\nNow, if we GREXIT the EUROZONE how would that affect matters. It would take a few months to come into effect but that would be another CONTAGION that I strongly believe would spread…there would be calls for referendums all over Europe with the anti-Europe parties going into overdrive about re-gaining sovereignty with your own currency once again, free to re-value, de-value do whatever you want in your countries bests interests not in the Germans best interests. It would be panic like never seen before. That is why everything will be done to avoid the GREXIT, even a complete and utter bullshit 4-month deal.\r\n\r\nThat is why DEBT RELIEF is the only way out and it must include recipients of bailouts as well.\r\n\r\nThis is not over…. not by a long way.\r\n\r\n&nbsp;\r\n\r\n<strong><span style=\"text-decoration: underline;\"> THE PREMIUM SERVICE:\r\n\r\n<strong><span style=\"text-decoration: underline;\">SUMMARY OF PERFORMANCE:</span></strong>\r\n</span></strong>\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">3.1 OVERVIEW:</span>\r\n\r\nFor 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, PROMOTIONS (if available), SIGN-UP and DISCLAIMER. Further details and how to join are all contained there. You will need at PayPal account to subscribe.\r\n\r\n<span style=\"text-decoration: underline;\">3.2 PREMIUM SERVICE – SUBSCRIPTION COSTS:</span>\r\n\r\nFull details regarding the PREMIUM SERVICE can be found on my website <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a>\r\n\r\nOn the welcome page there are a series of TABS at the top of the page that provide a summary of what the PREMIUM SERVICE is about and what you receive for your subscription.\r\n\r\nTHE 2015 SUBSCRIPTION BREAKDOWN IS AS FOLLOWS: -\r\n\r\n10 weeks - $200.00\r\n20 weeks - $350.00\r\n40 weeks - $500.00\r\n\r\n<span style=\"text-decoration: underline;\">3.3 TRADING REVIEW OF ACTIVITY and SUMMARY OF PERFORMANCE:</span>\r\n\r\nIt was better week for trading, I think, in spite of the volatility surrounding the EUROGROUP talks with GREECE. I had a couple of “sucker me in” trades at the end of the week. There is no greater person for self-criticism than myself; I am so annoyed and frustrated that I allowed myself to be suckered in, all my good efforts, so many hours at my desks, so much research and early mornings, (getting up at 2.30AM to trade the European Session), down the drain.\r\n\r\nMoving on to the market overview, we are not yet back to a directional “feel” as mentioned earlier in the blog but the signs are there. The commodity crosses and the CHF pairs offered some nice pip moves. In addition the EUR/GBP short was a nice profitable trade on a couple of occasions.\r\n\r\nI have been very active short the EUR/GBP but fear this may now be over as I am bearish on cable and no longer bullish as I was for the last couple of weeks. It just did not break out, which, has placed the bears back into control once again. The fundamental reasons mentioned earlier support my thoughts to remain bearish for the time being. I need to review the EUR/GBP reaction to both the EUR and GBP moving lower. Most of the times in past is meant stagnation. I do like trading this pair we will have to wait and see.\r\n\r\nRegular readers and subscribers will know that I am not a huge fan of trading the JPY pairs, this is based upon a previous smacking that I took. Yesterday, I left a 30 pip profitable position in the EUR/JPY to go and make coffee. Upon my return to my desk I had been stopped out on a 50-pip loss. The reason for the sudden about turn…was due to the rumours about the Greek government sending the wrong letter to the EUROGROUP requesting the bailout extension…. really! The trade really upset me, and, the fact that it was a JPY related pair just tells me that I am jinxed on this currency.\r\n\r\nI felt that as the week completed (EUROGROUP and GREECE removed) it was a little easier to set limit order trades. This year so far, my limit orders via RADAR TRADES for the PREMIUM SERVICE have under-performed. These were my strongest trades last year. I am both surprised and disappointed. This factor alone gives me a clear objective for my subscribers moving forward.\r\n\r\nNew in this week’s blog is section 4.4. I have been asked to supply more charts in the blog with my thoughts on future trade set-ups. Basically what charts am I looking at and why? What catches my eye on these charts? What trades are possibly there. As also requested I have kept these as clear and clean as possible with as few indicators as possible on them. I have tried to have just Fibonacci’s and Trend lines only. SMA’s, Bollinger Bands etc have been removed. They are stripped down as far as I can to make them easy to follow. You guys make take trades I do not from the thoughts on the charts!\r\n\r\nYear to date the PREMIUM SERVICE trades, had you just traded single-lot trades would have given you profits from the 105 completed trades so far in 2015 as follows: -\r\n<p style=\"text-align: center;\"><strong>MICRO LOT TRADERS:                 $237.00</strong></p>\r\n<p style=\"text-align: center;\"><strong>MINI LOT TRADERS:                      $2,370.00</strong></p>\r\n<p style=\"text-align: center;\"><strong>STANDARD LOT TRADERS:         $23,700.00</strong></p>\r\nThe usual summary charts detailing the week and year to date performances, are below: -\r\n\r\n<span style=\"text-decoration: underline;\">3.3.1. – PREMIUM SERVICE PROFIT/LOSS RATIOS:\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/PROFIT-LOSS-RATIO-22022015.png\"><img class=\"aligncenter size-full wp-image-5332\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/PROFIT-LOSS-RATIO-22022015.png\" alt=\"PROFIT-LOSS RATIO 22022015\" width=\"408\" height=\"586\" /></a>\r\n</span>\r\n\r\n<span style=\"text-decoration: underline;\">3.3.2. – PREMIUM SERVICE RISK/REWARD ANALYSIS:</span>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/RISK-REWARD-22022015.png\"><img class=\"aligncenter size-full wp-image-5331\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/RISK-REWARD-22022015.png\" alt=\"RISK-REWARD 22022015\" width=\"436\" height=\"534\" /></a>\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">3.3.3. – PREMIUM SERVICE OVERALL TRADE SUMMARY MONTH &amp; YTD:</span>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/PREM-SERV-PROFITS1-22022015.png\"><img class=\"aligncenter size-full wp-image-5333\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/PREM-SERV-PROFITS1-22022015.png\" alt=\"PREM SERV PROFITS1 22022015\" width=\"450\" height=\"424\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/PREM-SERV-PROFITS2-22022015.png\"><img class=\"aligncenter size-full wp-image-5334\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/PREM-SERV-PROFITS2-22022015.png\" alt=\"PREM SERV PROFITS2 22022015\" width=\"472\" height=\"433\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n<ol start=\"4\">\r\n	<li><strong><span style=\"text-decoration: underline;\">PREMIUM SERVICE SUBSCRIBER EXCLUSIVE CONTENT:</span></strong></li>\r\n</ol>\r\n(Section 4 is exclusive PREMIUM SERVICE content only available to PREMIUM SERVICE subscribers)\r\n\r\n<span style=\"text-decoration: underline;\">4.1 EDUCATION:</span>\r\n(The full list of all items and more from this section can be found in the PREMIUM SERVICE website in the Trade Essential area under the EDUCATION tab.)\r\n<h3 style=\"text-align: center;\"></h3>\r\n<h3 style=\"text-align: center;\"><span style=\"text-decoration: underline;\">REASONS WHY SO MANY TRADERS FAIL</span></h3>\r\nIn my previous articles, I have often discussed the things that can be done to improve one’s trading performance. This time, let’s take a look at some of the reasons why most traders fail.\r\n\r\nIt is said that the failure rate in the Forex industry is very high, with more than 95% of aspiring traders expected to drop out of the game within their first few years of trading. At this rate, you might have a better chance of surviving the Hunger Games than becoming a successful Forex trader!\r\n\r\nIn his book One Good Trade, proprietary trader Mike Bellafiore outlines the main reasons why traders don’t succeed. Although he draws his conclusions from his experience in stock trading, the lessons are generally applicable to Forex trading as well. What is interesting to note is that most of these common mistakes are actually avoidable.\r\n<ol>\r\n	<li><strong> THEY DON’T LISTEN TO THE MARKET</strong></li>\r\n</ol>\r\nAcquiring the necessary trading skills is the easy part, but if you are unable to apply these in the proper context, your skills alone will not generate your desired profits. At the end of the day, it is still the market that will dictate price action so traders who regularly disregard what the market is telling them often end up failing.\r\n\r\nFor instance, if you insist on shorting the EUR/USD even when new fundamental factors pop up and buyers have already taken the pair to new highs, you might need a moment to step back and reassess the situation. Take some time to figure out if there is additional information that carries more weight in terms of determining current price action instead of being stubborn and even adding to your position.\r\n\r\n“The market has rules”, Mike Bellafiore writes. “When one disobey the rules, Mother market reaches into your pocket and takes what is hers. And she doesn’t give it back.<strong> </strong>\r\n<ol start=\"2\">\r\n	<li><strong> THEY DON’T ENJOY TRADING</strong></li>\r\n</ol>\r\nExpertise is a process, which is driven by the genuine desire to learn and do better. Without curiosity and enjoyment for the craft, traders would hardly be motivated to pursue deliberate practice and skill development.\r\n\r\nWhen traders don’t have any love for the game, conducting market analysis and putting in the necessary hours required in mastering the markets will definitely seem like a chore. This explains why most aspiring traders simply decide to give up and pursue something else entirely.<strong> </strong>\r\n<ol start=\"3\">\r\n	<li><strong> THEY SET UNREALISTIC EXPECTATIONS</strong></li>\r\n</ol>\r\nBelieve me, it will take a lot of time and ego-crushing losses before one becomes a consistently profitable trader. There are many things that can be done to speed up the learning curve, but there is no way to completely eliminate it.\r\n\r\nSome newbie traders make the mistake of thinking, that in order to be successful, they should never incur losses. Consequently, they pressure themselves too much and take it hard every time a trade goes against them.\r\n\r\nTo avoid their fate, you have to accept that you will face losses. You will experience losing streaks and undergo drawdowns, which will probably make you feel terrible. Whether you like it or not, you will be on the wrong side of a trade in some instances. But you know what? It’s OK. Even the best Forex traders out there still experience these things\r\n\r\nI know I’ve said this so many times but I can’t stress how important it is for you to respect the process. Not everyone is entitled to make it big. However, you are entitled to work your butt off, train well, and realize your potential to become a good trader.\r\n<ol start=\"4\">\r\n	<li><strong> THEY’D RATHER BE RIGHT THAN MAKE MONEY</strong></li>\r\n</ol>\r\nIt sucks to be wrong. This is why so many people have a hard time swallowing their pride, admitting their mistake and moving on.\r\n\r\nOften in Forex, traders develop a bias on a currency, not that there is anything wrong with it, but the downfall of this is that sometimes they get paralyzed when their trades don’t go as they planned. They stick to their trades, insisting on being right and refusing to exit their already losing positions.\r\n\r\nI’m all for commitment when it comes to relationships and career but when you trade, you should remember that you shouldn’t be emotionally invested in a trade. Successful traders know when they should exit a losing position and they are able to do so quickly.\r\n\r\nTo be consistently profitable, you should always try to make good trades and accept the fact that you cannot control the results.\r\n\r\nBy learning from the common sources of failure, we can know what to look for in our trading habits and know what to avoid. That way, before we even hit the wall of failure, we can already correct your behavior and mindset.\r\n\r\nJust remember that success in Forex trading comes down to listening to the market, loving what you do, setting realistic expectations, and being open to admitting your mistakes.\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">4.2 THE PREMIUM SERVICE - EXISTING LIVE TRADES:</span>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/PS-LIVE-TRADES-22022015.png\"><img class=\"aligncenter size-full wp-image-5342\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/PS-LIVE-TRADES-22022015.png\" alt=\"PS LIVE TRADES 22022015\" width=\"714\" height=\"490\" /></a>\r\n\r\n<span style=\"text-decoration: underline;\">4.3 THE PREMIUM SERVICE – EXISTING LIMIT ORDERS:</span>\r\n\r\nBelow you will find an excel spreadsheet covering the trades that currently are with my brokers with LIMIT ORDERS in place.\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/PS-RADAR-TRADES-22022015.png\"><img class=\"aligncenter size-full wp-image-5341\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/PS-RADAR-TRADES-22022015.png\" alt=\"PS RADAR TRADES 22022015\" width=\"719\" height=\"386\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">PLEASE NOTE:</span>\r\n\r\nRemember position sizes for suggested FUNDAMENTAL TRADES should be much smaller than usual, maybe only 10%-15% of your normal trading position size. It is only when we add to our positions that the fun begins. All FUNDAMENTAL trades posted via email contain a second page with details of where I will add trades and when and where stops are moved, the Stair Stepping Stop Protection (SSSP) is self-explanatory and I hope useful. Using this grows your trading position and helps protect the profits made, should the trade gain traction.\r\n\r\nThis is why I have a separate broker for FUNDAMENTAL trades. It keeps my categories separate and allows me to spread my cash RISK around a few different brokers.\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">4.4 POTENTIAL TRADES - WHAT CHARTS AM I LOOKING AT?</span>\r\n\r\nI have been asked to have more charts in the blog. In particular the ones that I am working on and looking at because they catch my eye that may become potential trades in the trading sessions ahead. All the charts contain my thoughts. I will tweet and email as soon as these possible trades become LIMIT ORDERS.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/AUDUSD-DAILY-22022015.png\"><img class=\"aligncenter size-large wp-image-5355\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/AUDUSD-DAILY-22022015-1024x517.png\" alt=\"AUDUSD DAILY 22022015\" width=\"1024\" height=\"517\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/CADJPY-DAILY-22022015.png\"><img class=\"aligncenter size-large wp-image-5354\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/CADJPY-DAILY-22022015-1024x517.png\" alt=\"CADJPY DAILY 22022015\" width=\"1024\" height=\"517\" /></a>\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<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/EURGBP-60M-22022015.png\">\r\n</a><a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/EURJPY-DAILY-22022015.png\"><img class=\"aligncenter size-large wp-image-5352\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/EURJPY-DAILY-22022015-1024x517.png\" alt=\"EURJPY DAILY 22022015\" width=\"1024\" height=\"517\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/EURJPY-DAILY-22022015.png\"><img class=\"aligncenter size-large wp-image-5352\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/EURJPY-DAILY-22022015-1024x517.png\" alt=\"EURJPY DAILY 22022015\" width=\"1024\" height=\"517\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/EURNZD-DAILY-22022015.png\"><img class=\"aligncenter size-large wp-image-5351\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/EURNZD-DAILY-22022015-1024x517.png\" alt=\"EURNZD DAILY 22022015\" width=\"1024\" height=\"517\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/GBPAUD-DAILY-22022015.png\"><img class=\"aligncenter size-large wp-image-5350\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/GBPAUD-DAILY-22022015-1024x517.png\" alt=\"GBPAUD DAILY 22022015\" width=\"1024\" height=\"517\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/GBPCAD-MONTHLY-22022015.png\"><img class=\"aligncenter size-large wp-image-5349\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/GBPCAD-MONTHLY-22022015-1024x517.png\" alt=\"GBPCAD MONTHLY 22022015\" width=\"1024\" height=\"517\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/GBPNZD-240M-22022015.png\"><img class=\"aligncenter size-large wp-image-5348\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/GBPNZD-240M-22022015-1024x517.png\" alt=\"GBPNZD 240M 22022015\" width=\"1024\" height=\"517\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/USDCAD-240M-22022015.png\"><img class=\"aligncenter size-large wp-image-5347\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/USDCAD-240M-22022015-1024x517.png\" alt=\"USDCAD 240M 22022015\" width=\"1024\" height=\"517\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/USDCHF-240M-22022015.png\"><img class=\"aligncenter size-large wp-image-5346\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/USDCHF-240M-22022015-1024x517.png\" alt=\"USDCHF 240M 22022015\" width=\"1024\" height=\"517\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/USDJPY-240M-22022015.png\"><img class=\"aligncenter size-large wp-image-5345\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/USDJPY-240M-22022015-1024x517.png\" alt=\"USDJPY 240M 22022015\" width=\"1024\" height=\"517\" /></a>\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">4.5 MAJOR TRADING PAIRS WITH LONGER-TERM TRENDS MATCHING:</span>\r\n\r\nThe following currency pairs have Short Term (DAILY), Medium Term (WEEKLY) and Long Term (MONTHLY) charts all trending in the same direction.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/PS-TRENDING-PAIRS-22022015.png\"><img class=\"aligncenter size-full wp-image-5340\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/PS-TRENDING-PAIRS-22022015.png\" alt=\"PS TRENDING PAIRS 22022015\" width=\"384\" height=\"455\" /></a>\r\n\r\nThis is the third week with no real trending pairs to look at. Whether you find this data interesting or not, the mere fact that so few pairs are featured, you should note that we are at inflection points, when currencies may be changing direction. Alternatively, you may choose to dismiss this data as you feel that the numbers of squeezes have affected the directional trends and these indicators need a few more days to show the real trend again.\r\n\r\nMy view is weekly and monthly trends should NOT be changed by a squeeze… we should take note.\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">4.6 THE KEY SUPPORT &amp; RESISTANCE LEVELS WITH THE USD MAJORS</span><strong><span style=\"text-decoration: underline;\">:\r\n</span></strong>(This content is now for PREMIUM SERVICE subscribers only, it allows me to refer to existing and future set-ups that form part of the PREMIUM SERVICE subscription)\r\n\r\n<strong>EUR/USD: Closing Price 1.1381.</strong> Well would you Adam and Eve it? Last weeks closing price was just 1 pip less than the previous weeks close. The banks will have a field day on this data. All the bloody shenanigans and stress for what? Is the GREECE tragedy over? Will we have an Act IV? I wish I knew, I said it before, it is NOT over yet in my opinion. However looking into the early trading this week, I see the range to bear in mind with the EUR/USD to be 1.1260, which is critical support and resistance is pretty good at 1.1450. I am seriously thinking of a limit order at 1.1530 to short and being patient waiting for it to trigger. We have seen wild moves, there is nothing at all in the way with severe volatility for a test at 1.1530.\r\n\r\n<strong>GBP/USD: Closing Price 1.5404</strong>. Last week I thought the cable to be in a break out, now I think the cable is pulling back. It failed to breakout on several occasions. It was held back at 1.5480 after the FED minutes and 1.5440 has also been a tough nut to crack. I am looking at the range being 1.5300 to 1.5480.\r\n\r\n<strong>AUD/USD: Closing Price 0.7846</strong>. I cannot fathom out this pair. It is causing me stress. It is now at the point of being possibly a great short at either 0.7850 or 0.7880. For about a week I had been patiently waiting to enter the AUD/NZD on a pullback to 1.0400. My first attempt was at 1.0490 I would not chase and I was looking for a pullback. It actually traded below 1.0300 for a while. I finally got into the AUD/NZD short on Friday due to AUD strength over the Kiwi for once. Now I am not so sure that I want to short the AUD/NZD. I need the AUD/USD to pullback at 0.7880 to give me the warm and fuzzies over my AUD/NZD short trade. Lets see…the support for the AUD/USD is at 0.7750 and resistance is at 0.7780.\r\n\r\n<strong>NZD/USD: Closing Price 0.7523</strong>. This pair is very annoying and I find it frustrating at times to trade. It is still range bound albeit that the range is now a little broader at 0.7450 to 0.7610. I have my short LIMIT ORDER waiting at this level.\r\n\r\n<strong>USD/CAD: Closing Price 1.2538.</strong> The oil proxy rampage continues plus awful CAD Retail Sales numbers sent this pair and its crosses up like crazy. Where next…support is excellent at 1.2350 and resistance is really now back at 1.2700. This is a wide range but this pair has been moving 150–200 pips per day of late on the back of the volatility surrounding the oil price.\r\n\r\n<strong>USD/CHF: Closing Price 0.9377</strong>. I made good pips and lost $$$ with this pair last week. It still looks bullish. Support is at 0.9350 and resistance is at 0.9540.\r\n\r\n<strong>USD/JPY: Closing Price 119.07. </strong> I have a feeling that the S&amp;P it getting very toppy again. One of these times I will be correct. This pair is not moving in sync with U.S. equities anymore. Some days yes it will for a while the rest of the time its not. This divergence lower coupled with the fact that the BOJ are releasing semi official papers saying that they will do no more QE is leading me to think that the JPY pairs could be very good short trades in the near future. For now support is at 118.20 and resistance at 120.50.\r\n\r\n&nbsp;\r\n<ol start=\"5\">\r\n	<li><strong><span style=\"text-decoration: underline;\"> THE WEEK AHEAD: -\r\nWHAT AM I THINKING &amp; WHAT AM I LOOKING AT?</span></strong></li>\r\n</ol>\r\n<span style=\"text-decoration: underline;\">5.1 MAJOR FOREX NEWS THIS WEEK THAT INTERESTS ME:</span>\r\nSUNDAY: N/A.\r\n\r\nMONDAY: EUR – Draghi (ECB) Speaks.\r\n\r\nTUESDAY: USD – Janet Yellen (FED) Testifies.\r\nTUESDAY: CAD – Poloz (BOC) Speaks.\r\nTUESDAY: CNY – HSBC Flash Manufacturing PMi.\r\n\r\nWEDNESDAY: USD – Janet Yellen (FED) Testifies.\r\nWEDNESDAY: EUR – Draghi (ECB) Speaks.\r\nWEDNESDAY: NZD – Trade Balance.\r\nWEDNESDAY: AUD – PCE.\r\n\r\nTHURSDAY: EUR – Targeted LTRO Data.\r\nTHURSDAY: CAD – Core CPi.\r\nTHURSDAY: USD – Core CPi.\r\nTHURSDAY: NZD – ANZ Business Confidence.\r\n\r\nFRIDAY: EUR – German Preliminary CPi.\r\nFRIDAY: USD – Preliminary GDP.\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">5.2 FINAL THOUGHTS / CLOSING COMMENTS:</span>\r\n\r\nWhat can I say, I am originally from Liverpool; nothing shocks me and nothing really surprises me. You learn the hard way in Liverpool and it sets you up for life.\r\n\r\nTrading Forex I totally enjoy 100%. I find it stimulating, annoying, frustrating, rewarding, fascinating and challenging. At the same time it is sometimes laughable. The funniest item of late was the GREEK LETTER to the EUROGROUP…. we sent the wrong letter… really? Then it was denied, then confirmed, then denied again. Then we hear of an accord being reached in the negotiations followed by denials of such an agreement… incredible stuff.\r\n\r\nThis week we have a lot of Central Bank Presidents speaking; this is more like it in my opinion. Central banks are like dinosaurs, huge oil tankers; they take forever to change direction. When they set out a policy that is it for a long time. I am really hoping for confirmation of recent statements to give the markets certainty moving forward …the markets love clear statements.\r\n\r\nAs always, there will be trades to trade and there will be some great opportunities, please trade in line with your RISK MANAGEMENT parameters from your TRADING PLAN. If you do not have a TRADE PLAN, in my opinion, you should, as this will help you with consistency.\r\n<p style=\"text-align: center;\"><strong>Consistency = longevity in trading and that is a critical goal.\r\nIT IS THE KEY MEASUREMENT</strong></p>\r\nBefore you enter a trade work out the risk, price it in $$$. Place your stop accordingly. PREMIUM SERVICE subscribers have a full library of information on RISK MANAGEMENT, RISK TOLERANCES and POSITION SIZING etc. available for reference 24x7.\r\n\r\nTake care.\r\n\r\nScott Pickering\r\nThe Pip Accumulator\r\nSaturday February 21st 2015\r\n\r\nEMAIL / FOLLOW ME AT:\r\npremiumservice@weeklyfxdrivethru.com\r\nTwitter: @pipaccumulator\r\nTwitter: @ThePremService\r\n<span style=\"line-height: 1.5;\">Google+/scottpickering\r\n</span>Tumblr: thepipaccumulator\r\n\r\n&nbsp;\r\n\r\n<strong><span style=\"text-decoration: underline;\">DISCLAIMER &amp; OTHER DATA:</span></strong>\r\n\r\n<span style=\"text-decoration: underline;\">SUBSCRIBING TO THE “FREE VERSION” OF THE WEEKLY FX DRIVE THRU:</span>\r\n\r\nIf you like what you have almost completed reading and want to have THE WEEKLY FX DRIVE THRU delivered direct to your email inbox next week, here is what you do:\r\n\r\nGo to my website: - <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a>\r\n\r\nOn 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\r\n\r\nI do NOT sell your email data to anyone…do not worry.\r\n\r\n<span style=\"text-decoration: underline;\">THIRD PARTY COMPANIES WITH BANNERS ON MY WEBSITE:</span>\r\n\r\nThere 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.\r\n\r\nUnlike 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.\r\n\r\nBy virtue of the fact, I work with these companies almost daily. I am more than confident to have them advertise on my website.\r\n\r\nAny 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.\r\n\r\n<span style=\"text-decoration: underline;\">TRADING &amp; PERFORMANCES DISCLAIMER:</span>\r\n\r\nFLASH, 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.','EUROGROUP v GREECE… IT’S NOT OVER YET','','inherit','open','closed','','5356-revision-v1','','','2015-02-21 15:52:50','2015-02-21 20:52:50','',5356,'https://weeklyfxdrivethru.com/5356-revision-v1/',0,'revision','',0),(5358,1,'2015-02-21 15:54:32','2015-02-21 20:54:32','<h3 style=\"text-align: center;\"><strong>THE PREMIUM SERVICE\r\n</strong><strong>(The Home of Single-Lot $$$$ Trading)</strong></h3>\r\n<strong>DATE: 22.02.2015\r\n</strong><strong style=\"line-height: 1.5;\">REFERENCE: #48\r\n</strong><strong>BLOG: THE PREMIUM SERVICE</strong>\r\n\r\n&nbsp;\r\n<ol>\r\n	<li><strong><span style=\"text-decoration: underline;\"> INTRODUCTION / LOOKING BACK OVER THE PAST WEEK:</span></strong></li>\r\n</ol>\r\nAt last, after a number of what I am calling Forex Tsunami’s over the past three weeks or so (SNB, ECB QE and a few rocking short squeezes), we had by comparison a normal week, although I must caveat this by saying the news surrounding Greece has kept the markets choppy, in fact let me be serious the markets around the Greek news were just plain stupid. Stupid is a great word but not as farcical as the press releases surrounding the infamous letter that was presented to the Germans by the Greek government which the Germans rejected.\r\n\r\nIt was the wrong letter that was sent to the EUROGROUP… for the love of God…give me a fecking break. What are we here…children trying to get out of gym class at school?\r\n\r\nIf that is not enough, the deal is still not done. In fact, I talk about it later so let me just stop there after just one or two more digs …. but, my oh my what an absolute shower of nonsense the EUROZONE is.\r\n\r\nIt is badly formulated, badly designed, and poorly managed by a collection of politicians who are not problem solvers but blame attributers. The EUROZONE bureaucrats are becoming fat on the constant hospitality driven cheese and fine wines industry, which is the only one to have really grown in the EUROZONE in the past 8 years.\r\n\r\nIt is an absolute mess, it is as I have said on sooooooooooooo many occasions before, a case of trying to fit a square peg in a round hole which just won’t work. Later…\r\n\r\nI move on….\r\n\r\nCombine the EUR choppiness with oil volatility and it has been a choppy market, but at the same time we have been operating within trading ranges for the week, albeit that one or two of them may have extended, it is still fundamentally a range bound market in Forex at the moment.\r\n\r\nPersonally, during the week I over-traded a couple of times and fell foul of these trades. My discipline is much better than it was when I first started trading and I do consider myself to be quite disciplined, but I do get caught up in the excitement of trading at times. I ended the week feeling much happier than I was at the start of the week from a macro viewpoint but I did get suckered into a few trades I would have been better to ignore.\r\n\r\nFrom a market perspective, I am disappointed that all the over-hanging directional fundamental news that we have is on the back burner as we run through the GREECE versus GERMANY bailout / loan extension, or possibly the GREXIT / default and the, “Is Oil dropping to $20 or not” questions?\r\n\r\nThere are still a number of geopolitical issues that are bubbling under such as the conflict in UKRAINE. I am still trying to work out the reasons for Merkel and Hollande traveling to meet Putin to broker a ceasefire that the whole western world knew would fail. We have on-going ISIS issues, although it looks like however tragic the stories may be of be-headings and torchings, we unfortunately have the “its over there not over here” factor in play. Whilst we are led to believe progress is being made in the mission against ISIS the killings are of a higher profile and make most of the headlines.\r\n\r\nThe last FED meeting minutes were released to an absolute thunder of comments in blogs and of course on twitter. The twitter explosion was unreal regarding whether or not the FED should raise rates this year and when. Some quite remarkable comments were posted. Emotions ran high regarding Yellen over-seeing what is best for the United States, following, what appeared to be a more dovish stance from the FED.\r\n\r\nMy thoughts are; these minutes were from the FED meeting which was held before the recent PMi and NFP data was released, so to be honest, how relevant are they, the data is of more importance than the minutes, so lets just move on. Janet Yellen speaks twice this coming week in Washington. I think we have the opportunity to hear a more relevant up-to-date view on where the FED’s position lies then.\r\n\r\nNot much publicity, but the ECB released its first set of minutes from its last meeting. Very interesting stuff and I must say for a central bank that claims complete independence, the minutes did include the odd political comment. The political comment looked to be of Germanic extraction… Was für eine Überraschung (quelle surprise)!!\r\n\r\nWe have some great fundamentals in the market that should set us up with directional trading in the coming weeks. I think that my most used word in the past two weeks, either on twitter is my blogs has been patient or patience. Forex trading is all about this. It is waiting for the trades to come to you based upon your research and analysis.\r\n\r\nI have spoken with about 10-15 traders in the past few days on email, twitter or SKYPE. A consistent theme and frustration came through in these conversations around the question of “when will this nonsense end?”, coupled with talk of the difficult markets full of chop bringing strange moves at times and far too many squeezes.\r\n\r\nWe know that we should have good fundamentals to trade from day-to-day (see below), however, moves are at times bizarre and are at complete odds with the fundamentals. I think the reason for this is very clear - the market is completely headline driven. The markets are driven by FEAR and GREED and right now FEAR drives the Forex market hence the chop, hence the volatility and hence the fact the most flippant comment can move a currency. We are being driven by headlines. That was totally without question visible last Friday with the GREECE nonsense.\r\n\r\nMy only comment is that patience is the answer. Look at what we have when we normalize again: -\r\n<ul>\r\n	<li>We have the highly speculative Oil market ready to take a death plunge into the unknown. We have targets of sub $40; Citi looking for TV time state $20.</li>\r\n	<li>We have GOLD on the brink of what I think could be a substantial move lower. I think the $1,000.00 level will be challenged this year.</li>\r\n	<li>Copper is still trending lower. If we break below $2.00 the move lower will intensify.</li>\r\n	<li>China is still struggling. This is difficult at times based upon whether you believe the data releases or not. The GDP rate is sliding year on year since 2012 and with demand for goods lower worldwide, it stands to reason that output will decrease and the need for commodities will also be lower.\r\n(see the chart below)<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/CHINA-GDP-GROWTH-22022015.png\"><img class=\"aligncenter size-full wp-image-5343\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/CHINA-GDP-GROWTH-22022015.png\" alt=\"CHINA GDP GROWTH 22022015\" width=\"750\" height=\"320\" /></a></li>\r\n	<li>We have Central Bank divergences. That should be giving us directional trades. The FED and BOE are hawkish. The ECB, BOJ, RBA and BOC are dovish. The RBNZ is not sure and the SNB can’t be trusted.</li>\r\n	<li>I am also noticing divergence with the USD/JPY to U.S. equities. This is something that may be bigger than we all think moving forward. There are reasons for this that are mainly rumours and corridor comments at the moment.</li>\r\n</ul>\r\nI could list more but the simple fact is that I think we need to be patient.\r\n\r\nRegular readers of my blogs will know that I use the phrase a lot referring to the markets as being all about commodities. Commodities drive the markets.\r\n\r\nWhen I switch on my trading computers in the morning I always take a look at my lead indicators: - GOLD, OIL, COPPER, DXY, S&amp;P futures, AUD/USD, USD/CAD, USD/SEK and the AUD/JPY.\r\n\r\nI look for correlations and divergences. Of late, these have not always been in play, e.g. U.S equities rally the AUD/JPY and USD/JPY relationship is mostly off at the moment. GOLD and the USD (DXY) rally at the same time, usually this is an inverse relationship. Copper moves lower the AUD moves higher etc etc\r\n\r\nI realize that correlations will not always happen but when you have a pattern of non-correlation you know to be on your guard and look a bit further, it is something else to consider.\r\n\r\nLike many traders the discipline to be sidelined just watching, is as difficult for me as everyone else. I am a lot better at it than I used to be, in fact, substantially better but I still get suckered in at times; I am human.\r\n\r\nPatience is the key.\r\n\r\nFinally, I was asked about this during the week. My relationship with FXCM has now ended. I tried to get a reasonable settlement to the GBP/CHF loss on ”SNB Day”. They were just not interested. I have therefore parted company. If any reader was thinking of signing up with FXCM by clicking on their banner on my website, please choose another broker that has a banner such as, CWMFX, BLACKWELL GLOBAL or AVATRADE. The FXCM banner will be removed early this week.\r\n\r\nI am a little saddened to go, but it is a matter of principle now. I was looking for a gesture of goodwill; I got a gesture all right a raised middle finger!\r\n\r\n&nbsp;\r\n<ol start=\"2\">\r\n	<li><strong><span style=\"text-decoration: underline;\"> WHAT’S ON MY MIND: -\r\nTHE FUNDAMENTAL TRADERS OVERVIEW:</span></strong></li>\r\n</ol>\r\n<p style=\"text-align: center;\"><span style=\"text-decoration: underline;\"><strong>EUROGROUP v GREECE… IT’S NOT OVER YET</strong></span></p>\r\nWTF.\r\n\r\nI could write for hours on this…. where do I start and how do I keep this brief?\r\n\r\nThere is a sitcom in this news event, never have I witnessed such a bloody circus since Billy Smarts pulled into Wavertree Playground in Liverpool. At the time I think I was 8, which this fact in itself tells you how long I have waited for Act II.\r\n\r\nThe Syriza Party lads certainly know how to put on a show. The two flutes Alex Tsipras (Prime Minister) and Yanis Varoufakis (Finance Minister) waltz into Brussels with no money, turn the bloody markets upside down, provide some sort of schoolboy prank on poor Schaeuble and the rest of the EUROGROUP, by claiming that their letter of February 18<sup>th</sup> should not have been sent, it was an error…and that the correct one was still at home….come on lads give us a fecking break here, this is 2015 you guys without ties have proper jobs now.\r\n\r\nEnough of this, so at the end of the day the six month extension turns out to be a four month extension instead. But it is cemented into place only if the Greek government fulfill in writing certain guarantees about reforms that the EUROGROUP (Germany) has insisted upon. The Greeks have until Tuesday to do this. Job done the EUROZONE is fixed. Fixed my a**e.\r\n\r\nThis is not done, there is NO DONE DEAL. It is the usual EUROZONE can kicking, can’t make f***ing decision fudge.\r\n\r\nThe basic reasons for this is are that the EUROGROUP fears CONTAGION and even more basic, what politician in the EUROZONE wants to be the one going into the history books as the one who broke up the EUROZONE. We all know GREECE has no money and cannot pay whatever is agreed or worked out.\r\n\r\nThe politicians involved and the bureaucrats hired in Brussels are not problem solvers.\r\n\r\nPoliticians are only interested in votes, popularity, expense accounts, cheese and fine wines. Politicians attribute blame… they point fingers it was not me - look at them its their fault. That is what they do best. Most of them have zero business experience and if they had they were far removed from the sharp end.\r\n\r\nThe Bureaucrats (non-elected) are mere puppets of EUROZONE politicians and the national politicians on dotted line relationships, so no real boss. They are mere pen pushing, desk sucking, jotter blotters.\r\n\r\nThe EUROZONE or as it was once called THE EUROPEAN UNION has never acted like a union since its inception.\r\n\r\nIts members from all over Europe, simply cannot all agree on the same subject. There is no collective foreign policy, no common social chapter, no taxation agreement on private citizens, no taxation harmony on how to treat companies whether domestic or multi-national, no banking union…the list is endless.\r\n\r\nBasically dreamt up by Germany and France to compete at the time with EFTA (European Free Trade Agreement) the EUROPEAN UNION simply is a not a union.\r\n\r\nGermany is the powerhouse of the EUROZONE with all the money, it has a great export tradition, a great reputation for quality in all it manufactures and it operates tight fiscal and monetary controls.\r\n\r\nCompare Germany to most of the other countries in the EUROZONE…. it is a chalk and cheese comparison.\r\n\r\nThe EUROZONE was brought about when times were good, and there were great ideas, with lots of cheese nibbling and gallons of wine thrown down politician’s necks. It was happy days all around. Nobody ever saw the Financial Crash of 2008.\r\n\r\nThe weaker economies in the EUROZONE; Ireland, Portugal, Spain, Italy, Cyprus and Greece suffered like crazy. Banks were not well capitalized, there were no EUROZONE rules it was a desperate time. Bailouts were hastily arranged to keep the UNION intact. Greece has had bailouts, I have lost count there has been so much restructuring.\r\n\r\nAfter all the German promises that Austerity would work (because they said it would) it just hasn\'t worked. People across Europe have suffered. The EUROZONE as a whole has poor economic data and is in DEFLATIONARY territory. Austerity was so good, that now 7 years after the FED and the BOE the ECB is now introducing QE (Quantitative Easing) as a way to try and grow the EUROZONE economically.\r\n\r\nWhat about poor GREECE?\r\n\r\nBasically there are 29 countries in the EUROZONE, of which 20 of them use the EUR (single-currency). Ignore the outer 9.\r\n\r\nThere are 20 countries basically working off the same cheque-book… think about this…20 different governments, 20 different countries with different problems….20 different parliamentary biases, whether they are left wing, right wing or centre focused, pro Europe or anti Europe. Finally and probably the least significant on the surface, but to people living in 20 different countries who have had their individual identities stolen by Brussels, there are 20 different cultures.\r\n\r\nThe cultural diversity between GREECE and GERMANY is huge…in absolutely everything. Even this past week the present Greek government had a swipe at the Germans for alleged money owed to them from World War II.\r\n\r\nIt’s hot in GREECE there is a “manyana” attitude…in GERMANY it’s wet and cold and the people will do whatever is today, right now, this moment\r\n\r\nWhen it comes to finances in GREECE we have the “It’s close enough don’t worry about it - tomorrow we may find the difference who cares if we don\'t”, sort of attitude. Whereas, in GERMANY by comparison, if you don’t balance the books you are sacked.\r\n\r\nLook it’s dead simple… GERMANY is pooping its pants over CONTAGION risks in the EUROZONE.\r\n\r\nGREECE wants debt relief. Should GREECE get it? If they do Ireland and Portugal would be banging on Angela Merkels front door looking for the same.\r\n\r\nWe go debt relief now or we GREXIT in my opinion.\r\n\r\nThe EUROZONE are professional “Can kickers”. Germany has bought another 4 months of delay (assuming that the Greek government comes up (or wants to) with the assurances that the EUROGROUP wants). We will be here again in 4 months why?\r\n\r\nIts so pure and simple, GREECE has NO money it cannot pay its debts it cannot raise sufficient tax revenues to do so now or in the future. In addition no single politician wants to be the one who broke the EUROPEAN UNION. They will fudge and can kick so they do not have to make a decision. These are politicians they may not be in power when the final crunch day comes…leave it to the next guy to deal with.\r\n\r\nDebt forgiveness no matter how hard a pill to swallow is in my opinion the only way to draw a line under this and Ireland and Portugal, in fact all bailout recipients have to be part of the plan. We are pussy footing around as usual and all it does is create uncertainty for the markets, most of us know we will back to the same subject again very soon (four months).\r\n\r\nNow, if we GREXIT the EUROZONE how would that affect matters. It would take a few months to come into effect but that would be another CONTAGION that I strongly believe would spread…there would be calls for referendums all over Europe with the anti-Europe parties going into overdrive about re-gaining sovereignty with your own currency once again, free to re-value, de-value do whatever you want in your countries bests interests not in the Germans best interests. It would be panic like never seen before. That is why everything will be done to avoid the GREXIT, even a complete and utter bullshit 4-month deal.\r\n\r\nThat is why DEBT RELIEF is the only way out and it must include recipients of bailouts as well.\r\n\r\nThis is not over…. not by a long way.\r\n\r\n&nbsp;\r\n\r\n<strong><span style=\"text-decoration: underline;\"> THE PREMIUM SERVICE:</span></strong>\r\n\r\n<strong><span style=\"text-decoration: underline;\">SUMMARY OF PERFORMANCE:</span></strong>\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">3.1 OVERVIEW:</span>\r\n\r\nFor 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, PROMOTIONS (if available), SIGN-UP and DISCLAIMER. Further details and how to join are all contained there. You will need at PayPal account to subscribe.\r\n\r\n<span style=\"text-decoration: underline;\">3.2 PREMIUM SERVICE – SUBSCRIPTION COSTS:</span>\r\n\r\nFull details regarding the PREMIUM SERVICE can be found on my website <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a>\r\n\r\nOn the welcome page there are a series of TABS at the top of the page that provide a summary of what the PREMIUM SERVICE is about and what you receive for your subscription.\r\n\r\nTHE 2015 SUBSCRIPTION BREAKDOWN IS AS FOLLOWS: -\r\n\r\n10 weeks - $200.00\r\n20 weeks - $350.00\r\n40 weeks - $500.00\r\n\r\n<span style=\"text-decoration: underline;\">3.3 TRADING REVIEW OF ACTIVITY and SUMMARY OF PERFORMANCE:</span>\r\n\r\nIt was better week for trading, I think, in spite of the volatility surrounding the EUROGROUP talks with GREECE. I had a couple of “sucker me in” trades at the end of the week. There is no greater person for self-criticism than myself; I am so annoyed and frustrated that I allowed myself to be suckered in, all my good efforts, so many hours at my desks, so much research and early mornings, (getting up at 2.30AM to trade the European Session), down the drain.\r\n\r\nMoving on to the market overview, we are not yet back to a directional “feel” as mentioned earlier in the blog but the signs are there. The commodity crosses and the CHF pairs offered some nice pip moves. In addition the EUR/GBP short was a nice profitable trade on a couple of occasions.\r\n\r\nI have been very active short the EUR/GBP but fear this may now be over as I am bearish on cable and no longer bullish as I was for the last couple of weeks. It just did not break out, which, has placed the bears back into control once again. The fundamental reasons mentioned earlier support my thoughts to remain bearish for the time being. I need to review the EUR/GBP reaction to both the EUR and GBP moving lower. Most of the times in past is meant stagnation. I do like trading this pair we will have to wait and see.\r\n\r\nRegular readers and subscribers will know that I am not a huge fan of trading the JPY pairs, this is based upon a previous smacking that I took. Yesterday, I left a 30 pip profitable position in the EUR/JPY to go and make coffee. Upon my return to my desk I had been stopped out on a 50-pip loss. The reason for the sudden about turn…was due to the rumours about the Greek government sending the wrong letter to the EUROGROUP requesting the bailout extension…. really! The trade really upset me, and, the fact that it was a JPY related pair just tells me that I am jinxed on this currency.\r\n\r\nI felt that as the week completed (EUROGROUP and GREECE removed) it was a little easier to set limit order trades. This year so far, my limit orders via RADAR TRADES for the PREMIUM SERVICE have under-performed. These were my strongest trades last year. I am both surprised and disappointed. This factor alone gives me a clear objective for my subscribers moving forward.\r\n\r\nNew in this week’s blog is section 4.4. I have been asked to supply more charts in the blog with my thoughts on future trade set-ups. Basically what charts am I looking at and why? What catches my eye on these charts? What trades are possibly there. As also requested I have kept these as clear and clean as possible with as few indicators as possible on them. I have tried to have just Fibonacci’s and Trend lines only. SMA’s, Bollinger Bands etc have been removed. They are stripped down as far as I can to make them easy to follow. You guys make take trades I do not from the thoughts on the charts!\r\n\r\nYear to date the PREMIUM SERVICE trades, had you just traded single-lot trades would have given you profits from the 105 completed trades so far in 2015 as follows: -\r\n<p style=\"text-align: center;\"><strong>MICRO LOT TRADERS:                 $237.00</strong></p>\r\n<p style=\"text-align: center;\"><strong>MINI LOT TRADERS:                      $2,370.00</strong></p>\r\n<p style=\"text-align: center;\"><strong>STANDARD LOT TRADERS:         $23,700.00</strong></p>\r\nThe usual summary charts detailing the week and year to date performances, are below: -\r\n\r\n<span style=\"text-decoration: underline;\">3.3.1. – PREMIUM SERVICE PROFIT/LOSS RATIOS:</span>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/PROFIT-LOSS-RATIO-22022015.png\"><img class=\"aligncenter size-full wp-image-5332\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/PROFIT-LOSS-RATIO-22022015.png\" alt=\"PROFIT-LOSS RATIO 22022015\" width=\"408\" height=\"586\" /></a>\r\n\r\n<span style=\"text-decoration: underline;\">3.3.2. – PREMIUM SERVICE RISK/REWARD ANALYSIS:</span>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/RISK-REWARD-22022015.png\"><img class=\"aligncenter size-full wp-image-5331\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/RISK-REWARD-22022015.png\" alt=\"RISK-REWARD 22022015\" width=\"436\" height=\"534\" /></a>\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">3.3.3. – PREMIUM SERVICE OVERALL TRADE SUMMARY MONTH &amp; YTD:</span>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/PREM-SERV-PROFITS1-22022015.png\"><img class=\"aligncenter size-full wp-image-5333\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/PREM-SERV-PROFITS1-22022015.png\" alt=\"PREM SERV PROFITS1 22022015\" width=\"450\" height=\"424\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/PREM-SERV-PROFITS2-22022015.png\"><img class=\"aligncenter size-full wp-image-5334\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/PREM-SERV-PROFITS2-22022015.png\" alt=\"PREM SERV PROFITS2 22022015\" width=\"472\" height=\"433\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n<ol start=\"4\">\r\n	<li><strong><span style=\"text-decoration: underline;\">PREMIUM SERVICE SUBSCRIBER EXCLUSIVE CONTENT:</span></strong></li>\r\n</ol>\r\n(Section 4 is exclusive PREMIUM SERVICE content only available to PREMIUM SERVICE subscribers)\r\n\r\n<span style=\"text-decoration: underline;\">4.1 EDUCATION:</span>\r\n(The full list of all items and more from this section can be found in the PREMIUM SERVICE website in the Trade Essential area under the EDUCATION tab.)\r\n<h3 style=\"text-align: center;\"></h3>\r\n<h3 style=\"text-align: center;\"><span style=\"text-decoration: underline;\">REASONS WHY SO MANY TRADERS FAIL</span></h3>\r\nIn my previous articles, I have often discussed the things that can be done to improve one’s trading performance. This time, let’s take a look at some of the reasons why most traders fail.\r\n\r\nIt is said that the failure rate in the Forex industry is very high, with more than 95% of aspiring traders expected to drop out of the game within their first few years of trading. At this rate, you might have a better chance of surviving the Hunger Games than becoming a successful Forex trader!\r\n\r\nIn his book One Good Trade, proprietary trader Mike Bellafiore outlines the main reasons why traders don’t succeed. Although he draws his conclusions from his experience in stock trading, the lessons are generally applicable to Forex trading as well. What is interesting to note is that most of these common mistakes are actually avoidable.\r\n<ol>\r\n	<li><strong> THEY DON’T LISTEN TO THE MARKET</strong></li>\r\n</ol>\r\nAcquiring the necessary trading skills is the easy part, but if you are unable to apply these in the proper context, your skills alone will not generate your desired profits. At the end of the day, it is still the market that will dictate price action so traders who regularly disregard what the market is telling them often end up failing.\r\n\r\nFor instance, if you insist on shorting the EUR/USD even when new fundamental factors pop up and buyers have already taken the pair to new highs, you might need a moment to step back and reassess the situation. Take some time to figure out if there is additional information that carries more weight in terms of determining current price action instead of being stubborn and even adding to your position.\r\n\r\n“The market has rules”, Mike Bellafiore writes. “When one disobey the rules, Mother market reaches into your pocket and takes what is hers. And she doesn’t give it back.<strong> </strong>\r\n<ol start=\"2\">\r\n	<li><strong> THEY DON’T ENJOY TRADING</strong></li>\r\n</ol>\r\nExpertise is a process, which is driven by the genuine desire to learn and do better. Without curiosity and enjoyment for the craft, traders would hardly be motivated to pursue deliberate practice and skill development.\r\n\r\nWhen traders don’t have any love for the game, conducting market analysis and putting in the necessary hours required in mastering the markets will definitely seem like a chore. This explains why most aspiring traders simply decide to give up and pursue something else entirely.<strong> </strong>\r\n<ol start=\"3\">\r\n	<li><strong> THEY SET UNREALISTIC EXPECTATIONS</strong></li>\r\n</ol>\r\nBelieve me, it will take a lot of time and ego-crushing losses before one becomes a consistently profitable trader. There are many things that can be done to speed up the learning curve, but there is no way to completely eliminate it.\r\n\r\nSome newbie traders make the mistake of thinking, that in order to be successful, they should never incur losses. Consequently, they pressure themselves too much and take it hard every time a trade goes against them.\r\n\r\nTo avoid their fate, you have to accept that you will face losses. You will experience losing streaks and undergo drawdowns, which will probably make you feel terrible. Whether you like it or not, you will be on the wrong side of a trade in some instances. But you know what? It’s OK. Even the best Forex traders out there still experience these things\r\n\r\nI know I’ve said this so many times but I can’t stress how important it is for you to respect the process. Not everyone is entitled to make it big. However, you are entitled to work your butt off, train well, and realize your potential to become a good trader.\r\n<ol start=\"4\">\r\n	<li><strong> THEY’D RATHER BE RIGHT THAN MAKE MONEY</strong></li>\r\n</ol>\r\nIt sucks to be wrong. This is why so many people have a hard time swallowing their pride, admitting their mistake and moving on.\r\n\r\nOften in Forex, traders develop a bias on a currency, not that there is anything wrong with it, but the downfall of this is that sometimes they get paralyzed when their trades don’t go as they planned. They stick to their trades, insisting on being right and refusing to exit their already losing positions.\r\n\r\nI’m all for commitment when it comes to relationships and career but when you trade, you should remember that you shouldn’t be emotionally invested in a trade. Successful traders know when they should exit a losing position and they are able to do so quickly.\r\n\r\nTo be consistently profitable, you should always try to make good trades and accept the fact that you cannot control the results.\r\n\r\nBy learning from the common sources of failure, we can know what to look for in our trading habits and know what to avoid. That way, before we even hit the wall of failure, we can already correct your behavior and mindset.\r\n\r\nJust remember that success in Forex trading comes down to listening to the market, loving what you do, setting realistic expectations, and being open to admitting your mistakes.\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">4.2 THE PREMIUM SERVICE - EXISTING LIVE TRADES:</span>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/PS-LIVE-TRADES-22022015.png\"><img class=\"aligncenter size-full wp-image-5342\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/PS-LIVE-TRADES-22022015.png\" alt=\"PS LIVE TRADES 22022015\" width=\"714\" height=\"490\" /></a>\r\n\r\n<span style=\"text-decoration: underline;\">4.3 THE PREMIUM SERVICE – EXISTING LIMIT ORDERS:</span>\r\n\r\nBelow you will find an excel spreadsheet covering the trades that currently are with my brokers with LIMIT ORDERS in place.\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/PS-RADAR-TRADES-22022015.png\"><img class=\"aligncenter size-full wp-image-5341\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/PS-RADAR-TRADES-22022015.png\" alt=\"PS RADAR TRADES 22022015\" width=\"719\" height=\"386\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">PLEASE NOTE:</span>\r\n\r\nRemember position sizes for suggested FUNDAMENTAL TRADES should be much smaller than usual, maybe only 10%-15% of your normal trading position size. It is only when we add to our positions that the fun begins. All FUNDAMENTAL trades posted via email contain a second page with details of where I will add trades and when and where stops are moved, the Stair Stepping Stop Protection (SSSP) is self-explanatory and I hope useful. Using this grows your trading position and helps protect the profits made, should the trade gain traction.\r\n\r\nThis is why I have a separate broker for FUNDAMENTAL trades. It keeps my categories separate and allows me to spread my cash RISK around a few different brokers.\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">4.4 POTENTIAL TRADES - WHAT CHARTS AM I LOOKING AT?</span>\r\n\r\nI have been asked to have more charts in the blog. In particular the ones that I am working on and looking at because they catch my eye that may become potential trades in the trading sessions ahead. All the charts contain my thoughts. I will tweet and email as soon as these possible trades become LIMIT ORDERS.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/AUDUSD-DAILY-22022015.png\"><img class=\"aligncenter size-large wp-image-5355\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/AUDUSD-DAILY-22022015-1024x517.png\" alt=\"AUDUSD DAILY 22022015\" width=\"1024\" height=\"517\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/CADJPY-DAILY-22022015.png\"><img class=\"aligncenter size-large wp-image-5354\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/CADJPY-DAILY-22022015-1024x517.png\" alt=\"CADJPY DAILY 22022015\" width=\"1024\" height=\"517\" /></a>\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<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/EURGBP-60M-22022015.png\">\r\n</a><a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/EURJPY-DAILY-22022015.png\"><img class=\"aligncenter size-large wp-image-5352\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/EURJPY-DAILY-22022015-1024x517.png\" alt=\"EURJPY DAILY 22022015\" width=\"1024\" height=\"517\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/EURJPY-DAILY-22022015.png\"><img class=\"aligncenter size-large wp-image-5352\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/EURJPY-DAILY-22022015-1024x517.png\" alt=\"EURJPY DAILY 22022015\" width=\"1024\" height=\"517\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/EURNZD-DAILY-22022015.png\"><img class=\"aligncenter size-large wp-image-5351\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/EURNZD-DAILY-22022015-1024x517.png\" alt=\"EURNZD DAILY 22022015\" width=\"1024\" height=\"517\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/GBPAUD-DAILY-22022015.png\"><img class=\"aligncenter size-large wp-image-5350\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/GBPAUD-DAILY-22022015-1024x517.png\" alt=\"GBPAUD DAILY 22022015\" width=\"1024\" height=\"517\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/GBPCAD-MONTHLY-22022015.png\"><img class=\"aligncenter size-large wp-image-5349\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/GBPCAD-MONTHLY-22022015-1024x517.png\" alt=\"GBPCAD MONTHLY 22022015\" width=\"1024\" height=\"517\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/GBPNZD-240M-22022015.png\"><img class=\"aligncenter size-large wp-image-5348\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/GBPNZD-240M-22022015-1024x517.png\" alt=\"GBPNZD 240M 22022015\" width=\"1024\" height=\"517\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/USDCAD-240M-22022015.png\"><img class=\"aligncenter size-large wp-image-5347\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/USDCAD-240M-22022015-1024x517.png\" alt=\"USDCAD 240M 22022015\" width=\"1024\" height=\"517\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/USDCHF-240M-22022015.png\"><img class=\"aligncenter size-large wp-image-5346\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/USDCHF-240M-22022015-1024x517.png\" alt=\"USDCHF 240M 22022015\" width=\"1024\" height=\"517\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/USDJPY-240M-22022015.png\"><img class=\"aligncenter size-large wp-image-5345\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/USDJPY-240M-22022015-1024x517.png\" alt=\"USDJPY 240M 22022015\" width=\"1024\" height=\"517\" /></a>\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">4.5 MAJOR TRADING PAIRS WITH LONGER-TERM TRENDS MATCHING:</span>\r\n\r\nThe following currency pairs have Short Term (DAILY), Medium Term (WEEKLY) and Long Term (MONTHLY) charts all trending in the same direction.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/PS-TRENDING-PAIRS-22022015.png\"><img class=\"aligncenter size-full wp-image-5340\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/PS-TRENDING-PAIRS-22022015.png\" alt=\"PS TRENDING PAIRS 22022015\" width=\"384\" height=\"455\" /></a>\r\n\r\nThis is the third week with no real trending pairs to look at. Whether you find this data interesting or not, the mere fact that so few pairs are featured, you should note that we are at inflection points, when currencies may be changing direction. Alternatively, you may choose to dismiss this data as you feel that the numbers of squeezes have affected the directional trends and these indicators need a few more days to show the real trend again.\r\n\r\nMy view is weekly and monthly trends should NOT be changed by a squeeze… we should take note.\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">4.6 THE KEY SUPPORT &amp; RESISTANCE LEVELS WITH THE USD MAJORS</span><strong><span style=\"text-decoration: underline;\">:\r\n</span></strong>(This content is now for PREMIUM SERVICE subscribers only, it allows me to refer to existing and future set-ups that form part of the PREMIUM SERVICE subscription)\r\n\r\n<strong>EUR/USD: Closing Price 1.1381.</strong> Well would you Adam and Eve it? Last weeks closing price was just 1 pip less than the previous weeks close. The banks will have a field day on this data. All the bloody shenanigans and stress for what? Is the GREECE tragedy over? Will we have an Act IV? I wish I knew, I said it before, it is NOT over yet in my opinion. However looking into the early trading this week, I see the range to bear in mind with the EUR/USD to be 1.1260, which is critical support and resistance is pretty good at 1.1450. I am seriously thinking of a limit order at 1.1530 to short and being patient waiting for it to trigger. We have seen wild moves, there is nothing at all in the way with severe volatility for a test at 1.1530.\r\n\r\n<strong>GBP/USD: Closing Price 1.5404</strong>. Last week I thought the cable to be in a break out, now I think the cable is pulling back. It failed to breakout on several occasions. It was held back at 1.5480 after the FED minutes and 1.5440 has also been a tough nut to crack. I am looking at the range being 1.5300 to 1.5480.\r\n\r\n<strong>AUD/USD: Closing Price 0.7846</strong>. I cannot fathom out this pair. It is causing me stress. It is now at the point of being possibly a great short at either 0.7850 or 0.7880. For about a week I had been patiently waiting to enter the AUD/NZD on a pullback to 1.0400. My first attempt was at 1.0490 I would not chase and I was looking for a pullback. It actually traded below 1.0300 for a while. I finally got into the AUD/NZD short on Friday due to AUD strength over the Kiwi for once. Now I am not so sure that I want to short the AUD/NZD. I need the AUD/USD to pullback at 0.7880 to give me the warm and fuzzies over my AUD/NZD short trade. Lets see…the support for the AUD/USD is at 0.7750 and resistance is at 0.7780.\r\n\r\n<strong>NZD/USD: Closing Price 0.7523</strong>. This pair is very annoying and I find it frustrating at times to trade. It is still range bound albeit that the range is now a little broader at 0.7450 to 0.7610. I have my short LIMIT ORDER waiting at this level.\r\n\r\n<strong>USD/CAD: Closing Price 1.2538.</strong> The oil proxy rampage continues plus awful CAD Retail Sales numbers sent this pair and its crosses up like crazy. Where next…support is excellent at 1.2350 and resistance is really now back at 1.2700. This is a wide range but this pair has been moving 150–200 pips per day of late on the back of the volatility surrounding the oil price.\r\n\r\n<strong>USD/CHF: Closing Price 0.9377</strong>. I made good pips and lost $$$ with this pair last week. It still looks bullish. Support is at 0.9350 and resistance is at 0.9540.\r\n\r\n<strong>USD/JPY: Closing Price 119.07. </strong> I have a feeling that the S&amp;P it getting very toppy again. One of these times I will be correct. This pair is not moving in sync with U.S. equities anymore. Some days yes it will for a while the rest of the time its not. This divergence lower coupled with the fact that the BOJ are releasing semi official papers saying that they will do no more QE is leading me to think that the JPY pairs could be very good short trades in the near future. For now support is at 118.20 and resistance at 120.50.\r\n\r\n&nbsp;\r\n<ol start=\"5\">\r\n	<li><strong><span style=\"text-decoration: underline;\"> THE WEEK AHEAD: -\r\nWHAT AM I THINKING &amp; WHAT AM I LOOKING AT?</span></strong></li>\r\n</ol>\r\n<span style=\"text-decoration: underline;\">5.1 MAJOR FOREX NEWS THIS WEEK THAT INTERESTS ME:</span>\r\nSUNDAY: N/A.\r\n\r\nMONDAY: EUR – Draghi (ECB) Speaks.\r\n\r\nTUESDAY: USD – Janet Yellen (FED) Testifies.\r\nTUESDAY: CAD – Poloz (BOC) Speaks.\r\nTUESDAY: CNY – HSBC Flash Manufacturing PMi.\r\n\r\nWEDNESDAY: USD – Janet Yellen (FED) Testifies.\r\nWEDNESDAY: EUR – Draghi (ECB) Speaks.\r\nWEDNESDAY: NZD – Trade Balance.\r\nWEDNESDAY: AUD – PCE.\r\n\r\nTHURSDAY: EUR – Targeted LTRO Data.\r\nTHURSDAY: CAD – Core CPi.\r\nTHURSDAY: USD – Core CPi.\r\nTHURSDAY: NZD – ANZ Business Confidence.\r\n\r\nFRIDAY: EUR – German Preliminary CPi.\r\nFRIDAY: USD – Preliminary GDP.\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">5.2 FINAL THOUGHTS / CLOSING COMMENTS:</span>\r\n\r\nWhat can I say, I am originally from Liverpool; nothing shocks me and nothing really surprises me. You learn the hard way in Liverpool and it sets you up for life.\r\n\r\nTrading Forex I totally enjoy 100%. I find it stimulating, annoying, frustrating, rewarding, fascinating and challenging. At the same time it is sometimes laughable. The funniest item of late was the GREEK LETTER to the EUROGROUP…. we sent the wrong letter… really? Then it was denied, then confirmed, then denied again. Then we hear of an accord being reached in the negotiations followed by denials of such an agreement… incredible stuff.\r\n\r\nThis week we have a lot of Central Bank Presidents speaking; this is more like it in my opinion. Central banks are like dinosaurs, huge oil tankers; they take forever to change direction. When they set out a policy that is it for a long time. I am really hoping for confirmation of recent statements to give the markets certainty moving forward …the markets love clear statements.\r\n\r\nAs always, there will be trades to trade and there will be some great opportunities, please trade in line with your RISK MANAGEMENT parameters from your TRADING PLAN. If you do not have a TRADE PLAN, in my opinion, you should, as this will help you with consistency.\r\n<p style=\"text-align: center;\"><strong>Consistency = longevity in trading and that is a critical goal.\r\nIT IS THE KEY MEASUREMENT</strong></p>\r\nBefore you enter a trade work out the risk, price it in $$$. Place your stop accordingly. PREMIUM SERVICE subscribers have a full library of information on RISK MANAGEMENT, RISK TOLERANCES and POSITION SIZING etc. available for reference 24x7.\r\n\r\nTake care.\r\n\r\nScott Pickering\r\nThe Pip Accumulator\r\nSaturday February 21st 2015\r\n\r\nEMAIL / FOLLOW ME AT:\r\npremiumservice@weeklyfxdrivethru.com\r\nTwitter: @pipaccumulator\r\nTwitter: @ThePremService\r\n<span style=\"line-height: 1.5;\">Google+/scottpickering\r\n</span>Tumblr: thepipaccumulator\r\n\r\n&nbsp;\r\n\r\n<strong><span style=\"text-decoration: underline;\">DISCLAIMER &amp; OTHER DATA:</span></strong>\r\n\r\n<span style=\"text-decoration: underline;\">SUBSCRIBING TO THE “FREE VERSION” OF THE WEEKLY FX DRIVE THRU:</span>\r\n\r\nIf you like what you have almost completed reading and want to have THE WEEKLY FX DRIVE THRU delivered direct to your email inbox next week, here is what you do:\r\n\r\nGo to my website: - <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a>\r\n\r\nOn 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\r\n\r\nI do NOT sell your email data to anyone…do not worry.\r\n\r\n<span style=\"text-decoration: underline;\">THIRD PARTY COMPANIES WITH BANNERS ON MY WEBSITE:</span>\r\n\r\nThere 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.\r\n\r\nUnlike 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.\r\n\r\nBy virtue of the fact, I work with these companies almost daily. I am more than confident to have them advertise on my website.\r\n\r\nAny 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.\r\n\r\n<span style=\"text-decoration: underline;\">TRADING &amp; PERFORMANCES DISCLAIMER:</span>\r\n\r\nFLASH, 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.','EUROGROUP v GREECE… IT’S NOT OVER YET','','inherit','open','closed','','5356-revision-v1','','','2015-02-21 15:54:32','2015-02-21 20:54:32','',5356,'https://weeklyfxdrivethru.com/5356-revision-v1/',0,'revision','',0),(5359,1,'2015-02-21 16:36:30','2015-02-21 21:36:30','<p style=\"text-align: center;\"><strong>THE PREMIUM SERVICE\r\n</strong><strong>(The Home of Single-Lot $$$$ Trading)</strong></p>\r\n<strong>DATE: 22.02.2015\r\nREFERENCE: #140\r\n</strong><strong>BLOG VERSION: THE WEEKLY FX DRIVE THRU</strong>\r\n\r\n&nbsp;\r\n<ol>\r\n	<li><strong><span style=\"text-decoration: underline;\"> INTRODUCTION / LOOKING BACK OVER THE PAST WEEK:</span></strong></li>\r\n</ol>\r\nAt last, after a number of what I am calling Forex Tsunami’s over the past three weeks or so (SNB, ECB QE and a few rocking short squeezes), we had by comparison a normal week, although I must caveat this by saying the news surrounding Greece has kept the markets choppy, in fact let me be serious the markets around the Greek news were just plain stupid. Stupid is a great word but not as farcical as the press releases surrounding the infamous letter that was presented to the Germans by the Greek government which the Germans rejected.\r\n\r\nIt was the wrong letter that was sent to the EUROGROUP… for the love of God…give me a fecking break. What are we here…children trying to get out of gym class at school?\r\n\r\nIf that is not enough, the deal is still not done. In fact, I talk about it later so let me just stop there after just one or two more digs …. but, my oh my what an absolute shower of nonsense the EUROZONE is.\r\n\r\nIt is badly formulated, badly designed, and poorly managed by a collection of politicians who are not problem solvers but blame attributers. The EUROZONE bureaucrats are becoming fat on the constant hospitality driven cheese and fine wines industry, which is the only one to have really grown in the EUROZONE in the past 8 years.\r\n\r\nIt is an absolute mess, it is as I have said on sooooooooooooo many occasions before, a case of trying to fit a square peg in a round hole which just won’t work. Later…\r\n\r\nI move on….\r\n\r\nCombine the EUR choppiness with oil volatility and it has been a choppy market, but at the same time we have been operating within trading ranges for the week, albeit that one or two of them may have extended, it is still fundamentally a range bound market in Forex at the moment.\r\n\r\nPersonally, during the week I over-traded a couple of times and fell foul of these trades. My discipline is much better than it was when I first started trading and I do consider myself to be quite disciplined, but I do get caught up in the excitement of trading at times. I ended the week feeling much happier than I was at the start of the week from a macro viewpoint but I did get suckered into a few trades I would have been better to ignore.\r\n\r\nFrom a market perspective, I am disappointed that all the over-hanging directional fundamental news that we have is on the back burner as we run through the GREECE versus GERMANY bailout / loan extension, or possibly the GREXIT / default and the, “Is Oil dropping to $20 or not” questions?\r\n\r\nThere are still a number of geopolitical issues that are bubbling under such as the conflict in UKRAINE. I am still trying to work out the reasons for Merkel and Hollande traveling to meet Putin to broker a ceasefire that the whole western world knew would fail. We have on-going ISIS issues, although it looks like however tragic the stories may be of be-headings and torchings, we unfortunately have the “its over there not over here” factor in play. Whilst we are led to believe progress is being made in the mission against ISIS the killings are of a higher profile and make most of the headlines.\r\n\r\nThe last FED meeting minutes were released to an absolute thunder of comments in blogs and of course on twitter. The twitter explosion was unreal regarding whether or not the FED should raise rates this year and when. Some quite remarkable comments were posted. Emotions ran high regarding Yellen over-seeing what is best for the United States, following, what appeared to be a more dovish stance from the FED.\r\n\r\nMy thoughts are; these minutes were from the FED meeting which was held before the recent PMi and NFP data was released, so to be honest, how relevant are they, the data is of more importance than the minutes, so lets just move on. Janet Yellen speaks twice this coming week in Washington. I think we have the opportunity to hear a more relevant up-to-date view on where the FED’s position lies then.\r\n\r\nNot much publicity, but the ECB released its first set of minutes from its last meeting. Very interesting stuff and I must say for a central bank that claims complete independence, the minutes did include the odd political comment. The political comment looked to be of Germanic extraction… Was für eine Überraschung (quelle surprise)!!\r\n\r\nWe have some great fundamentals in the market that should set us up with directional trading in the coming weeks. I think that my most used word in the past two weeks, either on twitter is my blogs has been patient or patience. Forex trading is all about this. It is waiting for the trades to come to you based upon your research and analysis.\r\n\r\nI have spoken with about 10-15 traders in the past few days on email, twitter or SKYPE. A consistent theme and frustration came through in these conversations around the question of “when will this nonsense end?”, coupled with talk of the difficult markets full of chop bringing strange moves at times and far too many squeezes.\r\n\r\nWe know that we should have good fundamentals to trade from day-to-day (see below), however, moves are at times bizarre and are at complete odds with the fundamentals. I think the reason for this is very clear - the market is completely headline driven. The markets are driven by FEAR and GREED and right now FEAR drives the Forex market hence the chop, hence the volatility and hence the fact the most flippant comment can move a currency. We are being driven by headlines. That was totally without question visible last Friday with the GREECE nonsense.\r\n\r\nMy only comment is that patience is the answer. Look at what we have when we normalize again: -\r\n<ul>\r\n	<li>We have the highly speculative Oil market ready to take a death plunge into the unknown. We have targets of sub $40; Citi looking for TV time state $20.</li>\r\n	<li>We have GOLD on the brink of what I think could be a substantial move lower. I think the $1,000.00 level will be challenged this year.</li>\r\n	<li>Copper is still trending lower. If we break below $2.00 the move lower will intensify.</li>\r\n	<li>China is still struggling. This is difficult at times based upon whether you believe the data releases or not. The GDP rate is sliding year on year since 2012 and with demand for goods lower worldwide, it stands to reason that output will decrease and the need for commodities will also be lower.\r\n(see the chart below)\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/CHINA-GDP-GROWTH-22022015.png\"><img class=\"aligncenter size-full wp-image-5343\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/CHINA-GDP-GROWTH-22022015.png\" alt=\"CHINA GDP GROWTH 22022015\" width=\"750\" height=\"320\" /></a></li>\r\n	<li>We have Central Bank divergences. That should be giving us directional trades. The FED and BOE are hawkish. The ECB, BOJ, RBA and BOC are dovish. The RBNZ is not sure and the SNB can’t be trusted.</li>\r\n	<li>I am also noticing divergence with the USD/JPY to U.S. equities. This is something that may be bigger than we all think moving forward. There are reasons for this that are mainly rumours and corridor comments at the moment.</li>\r\n</ul>\r\nI could list more but the simple fact is that I think we need to be patient.\r\n\r\nRegular readers of my blogs will know that I use the phrase a lot referring to the markets as being all about commodities. Commodities drive the markets.\r\n\r\nWhen I switch on my trading computers in the morning I always take a look at my lead indicators: - GOLD, OIL, COPPER, DXY, S&amp;P futures, AUD/USD, USD/CAD, USD/SEK and the AUD/JPY.\r\n\r\nI look for correlations and divergences. Of late, these have not always been in play, e.g. U.S equities rally the AUD/JPY and USD/JPY relationship is mostly off at the moment. GOLD and the USD (DXY) rally at the same time, usually this is an inverse relationship. Copper moves lower the AUD moves higher etc etc\r\n\r\nI realize that correlations will not always happen but when you have a pattern of non-correlation you know to be on your guard and look a bit further, it is something else to consider.\r\n\r\nLike many traders the discipline to be sidelined just watching, is as difficult for me as everyone else. I am a lot better at it than I used to be, in fact, substantially better but I still get suckered in at times; I am human.\r\n\r\nPatience is the key.\r\n\r\nFinally, I was asked about this during the week. My relationship with FXCM has now ended. I tried to get a reasonable settlement to the GBP/CHF loss on ”SNB Day”. They were just not interested. I have therefore parted company. If any reader was thinking of signing up with FXCM by clicking on their banner on my website, please choose another broker that has a banner such as, CWMFX, BLACKWELL GLOBAL or AVATRADE. The FXCM banner will be removed early this week.\r\n\r\nI am a little saddened to go, but it is a matter of principle now. I was looking for a gesture of goodwill; I got a gesture all right a raised middle finger!\r\n\r\n&nbsp;\r\n<ol start=\"2\">\r\n	<li><strong><span style=\"text-decoration: underline;\"> WHAT’S ON MY MIND: -\r\nTHE FUNDAMENTAL TRADERS OVERVIEW:</span></strong></li>\r\n</ol>\r\n<p style=\"text-align: center;\"><strong>EUROGROUP v GREECE… IT’S NOT OVER YET</strong></p>\r\nWTF.\r\n\r\nI could write for hours on this…. where do I start and how do I keep this brief?\r\n\r\nThere is a sitcom in this news event, never have I witnessed such a bloody circus since Billy Smarts pulled into Wavertree Playground in Liverpool. At the time I think I was 8, which this fact in itself tells you how long I have waited for Act II.\r\n\r\nThe Syriza Party lads certainly know how to put on a show. The two flutes Alex Tsipras (Prime Minister) and Yanis Varoufakis (Finance Minister) waltz into Brussels with no money, turn the bloody markets upside down, provide some sort of schoolboy prank on poor Schaeuble and the rest of the EUROGROUP, by claiming that their letter of February 18<sup>th</sup> should not have been sent, it was an error…and that the correct one was still at home….come on lads give us a fecking break here, this is 2015 you guys without ties have proper jobs now.\r\n\r\nEnough of this, so at the end of the day the six month extension turns out to be a four month extension instead. But it is cemented into place only if the Greek government fulfill in writing certain guarantees about reforms that the EUROGROUP (Germany) has insisted upon. The Greeks have until Tuesday to do this. Job done the EUROZONE is fixed. Fixed my a**e.\r\n\r\nThis is not done, there is NO DONE DEAL. It is the usual EUROZONE can kicking, can’t make f***ing decision fudge.\r\n\r\nThe basic reasons for this is are that the EUROGROUP fears CONTAGION and even more basic, what politician in the EUROZONE wants to be the one going into the history books as the one who broke up the EUROZONE. We all know GREECE has no money and cannot pay whatever is agreed or worked out.\r\n\r\nThe politicians involved and the bureaucrats hired in Brussels are not problem solvers.\r\n\r\nPoliticians are only interested in votes, popularity, expense accounts, cheese and fine wines. Politicians attribute blame… they point fingers it was not me - look at them its their fault. That is what they do best. Most of them have zero business experience and if they had they were far removed from the sharp end.\r\n\r\nThe Bureaucrats (non-elected) are mere puppets of EUROZONE politicians and the national politicians on dotted line relationships, so no real boss. They are mere pen pushing, desk sucking, jotter blotters.\r\n\r\nThe EUROZONE or as it was once called THE EUROPEAN UNION has never acted like a union since its inception.\r\n\r\nIts members from all over Europe, simply cannot all agree on the same subject. There is no collective foreign policy, no common social chapter, no taxation agreement on private citizens, no taxation harmony on how to treat companies whether domestic or multi-national, no banking union…the list is endless.\r\n\r\nBasically dreamt up by Germany and France to compete at the time with EFTA (European Free Trade Agreement) the EUROPEAN UNION simply is a not a union.\r\n\r\nGermany is the powerhouse of the EUROZONE with all the money, it has a great export tradition, a great reputation for quality in all it manufactures and it operates tight fiscal and monetary controls.\r\n\r\nCompare Germany to most of the other countries in the EUROZONE…. it is a chalk and cheese comparison.\r\n\r\nThe EUROZONE was brought about when times were good, and there were great ideas, with lots of cheese nibbling and gallons of wine thrown down politician’s necks. It was happy days all around. Nobody ever saw the Financial Crash of 2008.\r\n\r\nThe weaker economies in the EUROZONE; Ireland, Portugal, Spain, Italy, Cyprus and Greece suffered like crazy. Banks were not well capitalized, there were no EUROZONE rules it was a desperate time. Bailouts were hastily arranged to keep the UNION intact. Greece has had bailouts, I have lost count there has been so much restructuring.\r\n\r\nAfter all the German promises that Austerity would work (because they said it would) it just hasn\'t worked. People across Europe have suffered. The EUROZONE as a whole has poor economic data and is in DEFLATIONARY territory. Austerity was so good, that now 7 years after the FED and the BOE the ECB is now introducing QE (Quantitative Easing) as a way to try and grow the EUROZONE economically.\r\n\r\nWhat about poor GREECE?\r\n\r\nBasically there are 29 countries in the EUROZONE, of which 20 of them use the EUR (single-currency). Ignore the outer 9.\r\n\r\nThere are 20 countries basically working off the same cheque-book… think about this…20 different governments, 20 different countries with different problems….20 different parliamentary biases, whether they are left wing, right wing or centre focused, pro Europe or anti Europe. Finally and probably the least significant on the surface, but to people living in 20 different countries who have had their individual identities stolen by Brussels, there are 20 different cultures.\r\n\r\nThe cultural diversity between GREECE and GERMANY is huge…in absolutely everything. Even this past week the present Greek government had a swipe at the Germans for alleged money owed to them from World War II.\r\n\r\nIt’s hot in GREECE there is a “manyana” attitude…in GERMANY it’s wet and cold and the people will do whatever is today, right now, this moment.\r\n\r\nWhen it comes to finances in GREECE we have the “It’s close enough don’t worry about it - tomorrow we may find the difference who cares if we don\'t”, sort of attitude. Whereas, in GERMANY by comparison, if you don’t balance the books you are sacked.\r\n\r\nLook it’s dead simple… GERMANY is pooping its pants over CONTAGION risks in the EUROZONE.\r\n\r\nGREECE wants debt relief. Should GREECE get it? If they do Ireland and Portugal would be banging on Angela Merkels front door looking for the same.\r\n\r\nWe go debt relief now or we GREXIT in my opinion.\r\n\r\nThe EUROZONE are professional “Can kickers”. Germany has bought another 4 months of delay (assuming that the Greek government comes up (or wants to) with the assurances that the EUROGROUP wants). We will be here again in 4 months why?\r\n\r\nIts so pure and simple, GREECE has NO money it cannot pay its debts it cannot raise sufficient tax revenues to do so now or in the future. In addition no single politician wants to be the one who broke the EUROPEAN UNION. They will fudge and can kick so they do not have to make a decision. These are politicians they may not be in power when the final crunch day comes…leave it to the next guy to deal with.\r\n\r\nDebt forgiveness no matter how hard a pill to swallow is in my opinion the only way to draw a line under this and Ireland and Portugal, in fact all bailout recipients have to be part of the plan. We are pussy footing around as usual and all it does is create uncertainty for the markets, most of us know we will back to the same subject again very soon (four months).\r\n\r\nNow, if we GREXIT the EUROZONE how would that affect matters. It would take a few months to come into effect but that would be another CONTAGION that I strongly believe would spread…there would be calls for referendums all over Europe with the anti-Europe parties going into overdrive about re-gaining sovereignty with your own currency once again, free to re-value, de-value do whatever you want in your countries bests interests not in the Germans best interests. It would be panic like never seen before. That is why everything will be done to avoid the GREXIT, even a complete and utter bullshit 4-month deal.\r\n\r\nThat is why DEBT RELIEF is the only way out and it must include recipients of bailouts as well.\r\n\r\nThis is not over…. not by a long way.\r\n\r\n&nbsp;\r\n<ol start=\"3\">\r\n	<li><strong><span style=\"text-decoration: underline;\"> THE PREMIUM SERVICE:\r\n</span></strong></li>\r\n</ol>\r\n<strong><span style=\"text-decoration: underline;\">SUMMARY OF PERFORMANCE:</span></strong>\r\n\r\n<span style=\"text-decoration: underline;\">3.1 OVERVIEW:</span>\r\n\r\nFor 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, PROMOTIONS (if available), SIGN-UP and DISCLAIMER. Further details and how to join are all contained there. You will need at PayPal account to subscribe.\r\n\r\n<span style=\"text-decoration: underline;\">3.2 PREMIUM SERVICE – SUBSCRIPTION COSTS:</span>\r\n\r\nFull details regarding the PREMIUM SERVICE can be found on my website <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a>\r\n\r\nOn the welcome page there are a series of TABS at the top of the page that provide a summary of what the PREMIUM SERVICE is about and what you receive for your subscription.\r\n\r\nTHE 2015 SUBSCRIPTION BREAKDOWN IS AS FOLLOWS: -\r\n\r\n10 weeks - $200.00\r\n20 weeks - $350.00\r\n40 weeks - $500.00\r\n\r\n<span style=\"text-decoration: underline;\">3.3 TRADING REVIEW OF ACTIVITY and SUMMARY OF PERFORMANCE:</span>\r\n\r\nIt was better week for trading, I think, in spite of the volatility surrounding the EUROGROUP talks with GREECE. I had a couple of “sucker me in” trades at the end of the week. There is no greater person for self-criticism than myself; I am so annoyed and frustrated that I allowed myself to be suckered in, all my good efforts, so many hours at my desks, so much research and early mornings, (getting up at 2.30AM to trade the European Session), down the drain.\r\n\r\nMoving on to the market overview, we are not yet back to a directional “feel” as mentioned earlier in the blog but the signs are there. The commodity crosses and the CHF pairs offered some nice pip moves. In addition the EUR/GBP short was a nice profitable trade on a couple of occasions.\r\n\r\nI have been very active short the EUR/GBP but fear this may now be over as I am bearish on cable and no longer bullish as I was for the last couple of weeks. It just did not break out, which, has placed the bears back into control once again. The fundamental reasons mentioned earlier support my thoughts to remain bearish for the time being. I need to review the EUR/GBP reaction to both the EUR and GBP moving lower. Most of the times in past is meant stagnation. I do like trading this pair we will have to wait and see.\r\n\r\nRegular readers and subscribers will know that I am not a huge fan of trading the JPY pairs, this is based upon a previous smacking that I took. Yesterday, I left a 30 pip profitable position in the EUR/JPY to go and make coffee. Upon my return to my desk I had been stopped out on a 50-pip loss. The reason for the sudden about turn…was due to the rumours about the Greek government sending the wrong letter to the EUROGROUP requesting the bailout extension…. really! The trade really upset me, and, the fact that it was a JPY related pair just tells me that I am jinxed on this currency.\r\n\r\nI felt that as the week completed (EUROGROUP and GREECE removed) it was a little easier to set limit order trades. This year so far, my limit orders via RADAR TRADES for the PREMIUM SERVICE have under-performed. These were my strongest trades last year. I am both surprised and disappointed. This factor alone gives me a clear objective for my subscribers moving forward.\r\n\r\nNew in this week’s blog is section 4.4. I have been asked to supply more charts in the blog with my thoughts on future trade set-ups. Basically what charts am I looking at and why? What catches my eye on these charts? What trades are possibly there. As also requested I have kept these as clear and clean as possible with as few indicators as possible on them. I have tried to have just Fibonacci’s and Trend lines only. SMA’s, Bollinger Bands etc have been removed. They are stripped down as far as I can to make them easy to follow. You guys make take trades I do not from the thoughts on the charts!\r\n\r\nYear to date the PREMIUM SERVICE trades, had you just traded single-lot trades would have given you profits from the 105 completed trades so far in 2015 as follows: -\r\n<p style=\"text-align: center;\"><strong>MICRO LOT TRADERS:                 $237.00</strong>\r\n<strong>MINI LOT TRADERS:                      $2,370.00</strong>\r\n<strong>STANDARD LOT TRADERS:         $23,700.00</strong></p>\r\nThe usual summary charts detailing the week and year to date performances, are below: -\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">3.3.1. – PREMIUM SERVICE PROFIT/LOSS RATIOS:</span>\r\n\r\n<span style=\"text-decoration: underline;\"><a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/PROFIT-LOSS-RATIO-22022015.png\"><img class=\"aligncenter size-full wp-image-5332\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/PROFIT-LOSS-RATIO-22022015.png\" alt=\"PROFIT-LOSS RATIO 22022015\" width=\"408\" height=\"586\" /></a>\r\n</span>\r\n\r\n<span style=\"text-decoration: underline;\">3.3.2. – PREMIUM SERVICE RISK/REWARD ANALYSIS:</span>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/RISK-REWARD-22022015.png\"><img class=\"aligncenter size-full wp-image-5331\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/RISK-REWARD-22022015.png\" alt=\"RISK-REWARD 22022015\" width=\"436\" height=\"534\" /></a>\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">3.3.3. – PREMIUM SERVICE OVERALL TRADE SUMMARY MONTH &amp; YTD:</span>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/PREM-SERV-PROFITS1-22022015.png\"><img class=\"aligncenter size-full wp-image-5333\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/PREM-SERV-PROFITS1-22022015.png\" alt=\"PREM SERV PROFITS1 22022015\" width=\"450\" height=\"424\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/PREM-SERV-PROFITS2-22022015.png\"><img class=\"aligncenter size-full wp-image-5334\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/PREM-SERV-PROFITS2-22022015.png\" alt=\"PREM SERV PROFITS2 22022015\" width=\"472\" height=\"433\" /></a>\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">3.4 THE PREMIUM SERVICE – 2015 PROMOTION:</span>\r\n<p style=\"text-align: center;\"><span style=\"color: #ff0000;\"><strong><span style=\"text-decoration: underline;\">PLEASE NOTE THAT THIS PROMOTION\r\n</span></strong><strong><span style=\"text-decoration: underline;\">EXPIRES THIS COMING SATURDAY</span></strong></span></p>\r\nKeeping your PREMIUM SERVICE trades separate from your own trades can give you an instant direct performance comparison.\r\n\r\nIf you open a separate account with any of my trading partners / preferred brokers CWMFX, AvaTrade or Blackwell Global, you will be eligible for “BONUS WEEKS” to be added to your subscription.\r\n\r\nThis is in addition to the account-opening bonuses for new clients offered by AvaTrade, (see their website www.avatrade.com for full details), or, Blackwell Global (contact me directly for bonus details)\r\n\r\nThe promotion also applies to CWMFX accounts as well. They offer very tight rate spreads as an alternative to account opening bonuses offered by AvaTrade and Blackwell Global.\r\n\r\nIf you intend to be or are a longer-term position style trader only looking at your computer once a day tight rate spreads may not be as important to you and as such, the AvaTrade or Blackwell Global bonus may be more appealing to you.\r\n\r\nConversely, if you intend to be a more active trader the CWMFX tight rate spreads will be of more interest.\r\n\r\nThe choice is yours.\r\n\r\nThis promotion with my associated trading partners will expire of Saturday 28th\r\n\r\nFebruary 2015…it is really very limited: -\r\n<ol>\r\n	<li>Subscribe to the PREMIUM SERVICE:</li>\r\n</ol>\r\nYou will need to go to the welcome page of my website <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a>\r\n\r\nClick on the sign-up tab at the top of the page.\r\n<p style=\"text-align: center;\"><strong>2015 PREMIUM SERVICE SUBSCRIPTION RATES</strong></p>\r\n<p style=\"text-align: center;\"><strong>10 weeks = $200.00</strong>\r\n<strong>20 weeks = $350.00</strong>\r\n<strong>40 weeks = $500.00 (full year / annual subscription)</strong>\r\n<strong>NOTE: I limit my trading during periods of thin liquidity such as Christmas / New Year and Late July / August summer vacation times.</strong></p>\r\n<p style=\"text-align: center;\"><strong>Hence, 40 weeks is equal to an annual subscription.</strong></p>\r\n&nbsp;\r\n<ol start=\"2\">\r\n	<li>Open a LIVE account clicking on the “BANNER” of the broker of your choice on my website</li>\r\n</ol>\r\nThis will enable you to achieve a trading bonus direct from AvaTrade or BLACKWELL GLOBAL or opt for the tight rate spreads from CWMFX\r\n\r\nFor Blackwell Global advise me of what you are doing and I will guide you through the process.\r\n\r\nAll the banners are on the welcome page of my website - www.weeklyfxdrivethru.com\r\n\r\n&nbsp;\r\n<ol start=\"3\">\r\n	<li>PREMIUM SERVICE – BONUS WEEKS PROMOTION:</li>\r\n</ol>\r\nOnce the LIVE trading account is confirmed and funded, I will extended\r\n\r\nPREMIUM SERVICE subscription periods as follows after you have advised me what you have done via email at <a href=\"mailto:premiumservice@weeklyfxdrivethru.com\">premiumservice@weeklyfxdrivethru.com</a>: -\r\n\r\n10-week subscriptions will receive a bonus of 5 weeks (15 weeks total)\r\nYour subscription would be equivalent to $13.33 per week.\r\n\r\n20-week subscriptions will receive a bonus of 10 weeks (30 weeks total)\r\nYour subscription would be equivalent to $11.66 per week.\r\n\r\n40-week subscriptions will receive a bonus of 20 weeks (60 weeks total)\r\nYour subscription would be equivalent to $8.33 per week.\r\n\r\nThis promotion represents the best offer that I have participated in and has an unbelievable value. It is simply the best that I have ever promoted and is a great way to start trading in 2015.\r\n\r\nIt would hopefully be the start of a very profitable relationship together.\r\n\r\n&nbsp;\r\n<ol start=\"4\">\r\n	<li>PLEASE NOTE: - THE FOLLOWING CONDITIONS TO THE PROMOTION:</li>\r\n</ol>\r\nOnly broker accounts opened via the banner on my website www.weeklyfxdrivethru.com are accepted for the PREMIUM SERVICE BONUS WEEKS PROMOTION.\r\n\r\nFor the “BONUS WEEKS PROMOTION” in subscription weeks to the\r\n\r\nPREMIUM SERVICE to remain intact you must meet the AvaTrade, Blackwell Global or CWMFX requirements for operating your broker account. Should your account with AvaTrade, Blackwell Global or CWMFX cease to be valid and close the “BONUS WEEKS” segment of the PREMIUM SERVICE promotion will also be withdrawn.\r\n\r\nThis PREMIUM SERVICE “BONUS WEEKS PROMOTION” is only available with this offer and is 100% linked to the AvaTrade, Blackwell Global or CWMFX LIVE accounts being opened via the banners on the welcome page of my website www.weeklyfxdrivethru.com\r\n\r\n&nbsp;\r\n<ol start=\"4\">\r\n	<li><strong><span style=\"text-decoration: underline;\"> PREMIUM SERVICE SUBSCRIBER EXCLUSIVE CONTENT:</span></strong></li>\r\n</ol>\r\n(Section 4 is exclusive PREMIUM SERVICE content only available to PREMIUM SERVICE subscribers)\r\n\r\n<span style=\"text-decoration: underline;\">4.1 EDUCATION:\r\n</span>(The full list of all items and more from this section can be found in the PREMIUM SERVICE website in the Trade Essential area under the EDUCATION tab.)\r\n\r\n<span style=\"text-decoration: underline;\">4.2 THE PREMIUM SERVICE - EXISTING LIVE TRADES:</span>\r\n\r\n<span style=\"text-decoration: underline;\">4.3 THE PREMIUM SERVICE – EXISTING LIMIT ORDERS:</span>\r\n\r\n<span style=\"text-decoration: underline;\">4.4 POTENTIAL TRADES - WHAT CHARTS AM I LOOKING AT?</span>\r\n\r\n<span style=\"text-decoration: underline;\">4.5 MAJOR TRADING PAIRS WITH LONGER-TERM TRENDS MATCHING:</span>\r\n\r\n<span style=\"text-decoration: underline;\">4.6 THE KEY SUPPORT &amp; RESISTANCE LEVELS WITH THE USD MAJORS</span><strong><span style=\"text-decoration: underline;\">:\r\n</span></strong>(This content is now for PREMIUM SERVICE subscribers only, it allows me to refer to existing and future set-ups that form part of the PREMIUM SERVICE subscription)\r\n\r\n&nbsp;\r\n<ol start=\"5\">\r\n	<li><strong><span style=\"text-decoration: underline;\"> THE WEEK AHEAD: -\r\nWHAT AM I THINKING &amp; WHAT AM I LOOKING AT?</span></strong></li>\r\n</ol>\r\n<span style=\"text-decoration: underline;\">5.1 MAJOR FOREX NEWS THIS WEEK THAT INTERESTS ME:</span>\r\nSUNDAY: N/A.\r\n\r\nMONDAY: EUR – Draghi (ECB) Speaks.\r\n\r\nTUESDAY: USD – Janet Yellen (FED) Testifies.\r\nTUESDAY: CAD – Poloz (BOC) Speaks.\r\nTUESDAY: CNY – HSBC Flash Manufacturing PMi.\r\n\r\nWEDNESDAY: USD – Janet Yellen (FED) Testifies.\r\nWEDNESDAY: EUR – Draghi (ECB) Speaks.\r\nWEDNESDAY: NZD – Trade Balance.\r\nWEDNESDAY: AUD – PCE\r\n\r\nTHURSDAY: EUR – Targeted LTRO Data.\r\nTHURSDAY: CAD – Core CPi.\r\nTHURSDAY: USD – Core CPi.\r\nTHURSDAY: NZD – ANZ Business Confidence.\r\n\r\nFRIDAY: EUR – German Preliminary CPi.\r\nFRIDAY: USD – Preliminary GDP.\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">5.2 FINAL THOUGHTS / CLOSING COMMENTS:</span>\r\n\r\nWhat can I say, I am originally from Liverpool; nothing shocks me and nothing really surprises me. You learn the hard way in Liverpool and it sets you up for life.\r\n\r\nTrading Forex I totally enjoy 100%. I find it stimulating, annoying, frustrating, rewarding, fascinating and challenging. At the same time it is sometimes laughable. The funniest item of late was the GREEK LETTER to the EUROGROUP…. we sent the wrong letter… really? Then it was denied, then confirmed, then denied again. Then we hear of an accord being reached in the negotiations followed by denials of such an agreement… incredible stuff.\r\n\r\nThis week we have a lot of Central Bank Presidents speaking; this is more like it in my opinion. Central banks are like dinosaurs, huge oil tankers; they take forever to change direction. When they set out a policy that is it for a long time. I am really hoping for confirmation of recent statements to give the markets certainty moving forward …the markets love clear statements.\r\n\r\nAs always, there will be trades to trade and there will be some great opportunities, please trade in line with your RISK MANAGEMENT parameters from your TRADING PLAN. If you do not have a TRADE PLAN, in my opinion, you should, as this will help you with consistency.\r\n<p style=\"text-align: center;\"><strong>Consistency = longevity in trading and that is a critical goal.\r\nIT IS THE KEY MEASUREMENT</strong></p>\r\nBefore you enter a trade work out the risk, price it in $$$. Place your stop accordingly. PREMIUM SERVICE subscribers have a full library of information on RISK MANAGEMENT, RISK TOLERANCES and POSITION SIZING etc. available for reference 24x7.\r\n\r\nTake care.\r\n\r\nScott Pickering\r\nThe Pip Accumulator\r\nSaturday February 21st 2015\r\n\r\nEMAIL / FOLLOW ME AT:\r\ndrivethru@weeklyfxdrivethru.com\r\nTwitter: @ThePremService\r\n<span style=\"line-height: 1.5;\">Google+/scottpickering\r\n</span>Tumblr: thepipaccumulator\r\n\r\n&nbsp;\r\n\r\n<strong><span style=\"text-decoration: underline;\">DISCLAIMER &amp; OTHER DATA:</span></strong>\r\n\r\n<span style=\"text-decoration: underline;\">SUBSCRIBING TO THE “FREE VERSION” OF THE WEEKLY FX DRIVE THRU:</span>\r\n\r\nIf you like what you have almost completed reading and want to have THE WEEKLY FX DRIVE THRU delivered direct to your email inbox next week, here is what you do: -\r\n\r\nGo to my website: - <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a>\r\n\r\nOn 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.\r\n\r\nI do NOT sell your email data to anyone…do not worry.\r\n\r\n<span style=\"text-decoration: underline;\">THIRD PARTY COMPANIES WITH BANNERS ON MY WEBSITE:</span>\r\n\r\nThere 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.\r\n\r\nUnlike 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.\r\n\r\nBy virtue of the fact, I work with these companies almost daily. I am more than confident to have them advertise on my website.\r\n\r\nAny 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.\r\n\r\n<span style=\"text-decoration: underline;\">TRADING &amp; PERFORMANCES DISCLAIMER:</span>\r\n\r\nFLASH, 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.','EUROGROUP v GREECE… IT’S NOT OVER YET','','publish','open','closed','','eurogroup-v-greece-its-not-over-yet','','','2015-02-21 16:36:30','2015-02-21 21:36:30','',0,'https://weeklyfxdrivethru.com/?p=5359',0,'post','',0),(5360,1,'2015-02-21 16:35:12','2015-02-21 21:35:12','<p style=\"text-align: center;\"><strong>THE PREMIUM SERVICE\r\n</strong><strong>(The Home of Single-Lot $$$$ Trading)</strong></p>\r\n<strong>DATE: 22.02.2015\r\nREFERENCE: #140\r\n</strong><strong>BLOG VERSION: THE WEEKLY FX DRIVE THRU</strong>\r\n\r\n&nbsp;\r\n<ol>\r\n	<li><strong><span style=\"text-decoration: underline;\"> INTRODUCTION / LOOKING BACK OVER THE PAST WEEK:</span></strong></li>\r\n</ol>\r\nAt last, after a number of what I am calling Forex Tsunami’s over the past three weeks or so (SNB, ECB QE and a few rocking short squeezes), we had by comparison a normal week, although I must caveat this by saying the news surrounding Greece has kept the markets choppy, in fact let me be serious the markets around the Greek news were just plain stupid. Stupid is a great word but not as farcical as the press releases surrounding the infamous letter that was presented to the Germans by the Greek government which the Germans rejected.\r\n\r\nIt was the wrong letter that was sent to the EUROGROUP… for the love of God…give me a fecking break. What are we here…children trying to get out of gym class at school?\r\n\r\nIf that is not enough, the deal is still not done. In fact, I talk about it later so let me just stop there after just one or two more digs …. but, my oh my what an absolute shower of nonsense the EUROZONE is.\r\n\r\nIt is badly formulated, badly designed, and poorly managed by a collection of politicians who are not problem solvers but blame attributers. The EUROZONE bureaucrats are becoming fat on the constant hospitality driven cheese and fine wines industry, which is the only one to have really grown in the EUROZONE in the past 8 years.\r\n\r\nIt is an absolute mess, it is as I have said on sooooooooooooo many occasions before, a case of trying to fit a square peg in a round hole which just won’t work. Later…\r\n\r\nI move on….\r\n\r\nCombine the EUR choppiness with oil volatility and it has been a choppy market, but at the same time we have been operating within trading ranges for the week, albeit that one or two of them may have extended, it is still fundamentally a range bound market in Forex at the moment.\r\n\r\nPersonally, during the week I over-traded a couple of times and fell foul of these trades. My discipline is much better than it was when I first started trading and I do consider myself to be quite disciplined, but I do get caught up in the excitement of trading at times. I ended the week feeling much happier than I was at the start of the week from a macro viewpoint but I did get suckered into a few trades I would have been better to ignore.\r\n\r\nFrom a market perspective, I am disappointed that all the over-hanging directional fundamental news that we have is on the back burner as we run through the GREECE versus GERMANY bailout / loan extension, or possibly the GREXIT / default and the, “Is Oil dropping to $20 or not” questions?\r\n\r\nThere are still a number of geopolitical issues that are bubbling under such as the conflict in UKRAINE. I am still trying to work out the reasons for Merkel and Hollande traveling to meet Putin to broker a ceasefire that the whole western world knew would fail. We have on-going ISIS issues, although it looks like however tragic the stories may be of be-headings and torchings, we unfortunately have the “its over there not over here” factor in play. Whilst we are led to believe progress is being made in the mission against ISIS the killings are of a higher profile and make most of the headlines.\r\n\r\nThe last FED meeting minutes were released to an absolute thunder of comments in blogs and of course on twitter. The twitter explosion was unreal regarding whether or not the FED should raise rates this year and when. Some quite remarkable comments were posted. Emotions ran high regarding Yellen over-seeing what is best for the United States, following, what appeared to be a more dovish stance from the FED.\r\n\r\nMy thoughts are; these minutes were from the FED meeting which was held before the recent PMi and NFP data was released, so to be honest, how relevant are they, the data is of more importance than the minutes, so lets just move on. Janet Yellen speaks twice this coming week in Washington. I think we have the opportunity to hear a more relevant up-to-date view on where the FED’s position lies then.\r\n\r\nNot much publicity, but the ECB released its first set of minutes from its last meeting. Very interesting stuff and I must say for a central bank that claims complete independence, the minutes did include the odd political comment. The political comment looked to be of Germanic extraction… Was für eine Überraschung (quelle surprise)!!\r\n\r\nWe have some great fundamentals in the market that should set us up with directional trading in the coming weeks. I think that my most used word in the past two weeks, either on twitter is my blogs has been patient or patience. Forex trading is all about this. It is waiting for the trades to come to you based upon your research and analysis.\r\n\r\nI have spoken with about 10-15 traders in the past few days on email, twitter or SKYPE. A consistent theme and frustration came through in these conversations around the question of “when will this nonsense end?”, coupled with talk of the difficult markets full of chop bringing strange moves at times and far too many squeezes.\r\n\r\nWe know that we should have good fundamentals to trade from day-to-day (see below), however, moves are at times bizarre and are at complete odds with the fundamentals. I think the reason for this is very clear - the market is completely headline driven. The markets are driven by FEAR and GREED and right now FEAR drives the Forex market hence the chop, hence the volatility and hence the fact the most flippant comment can move a currency. We are being driven by headlines. That was totally without question visible last Friday with the GREECE nonsense.\r\n\r\nMy only comment is that patience is the answer. Look at what we have when we normalize again: -\r\n<ul>\r\n	<li>We have the highly speculative Oil market ready to take a death plunge into the unknown. We have targets of sub $40; Citi looking for TV time state $20.</li>\r\n	<li>We have GOLD on the brink of what I think could be a substantial move lower. I think the $1,000.00 level will be challenged this year.</li>\r\n	<li>Copper is still trending lower. If we break below $2.00 the move lower will intensify.</li>\r\n	<li>China is still struggling. This is difficult at times based upon whether you believe the data releases or not. The GDP rate is sliding year on year since 2012 and with demand for goods lower worldwide, it stands to reason that output will decrease and the need for commodities will also be lower.\r\n(see the chart below)\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/CHINA-GDP-GROWTH-22022015.png\"><img class=\"aligncenter size-full wp-image-5343\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/CHINA-GDP-GROWTH-22022015.png\" alt=\"CHINA GDP GROWTH 22022015\" width=\"750\" height=\"320\" /></a></li>\r\n	<li>We have Central Bank divergences. That should be giving us directional trades. The FED and BOE are hawkish. The ECB, BOJ, RBA and BOC are dovish. The RBNZ is not sure and the SNB can’t be trusted.</li>\r\n	<li>I am also noticing divergence with the USD/JPY to U.S. equities. This is something that may be bigger than we all think moving forward. There are reasons for this that are mainly rumours and corridor comments at the moment.</li>\r\n</ul>\r\nI could list more but the simple fact is that I think we need to be patient.\r\n\r\nRegular readers of my blogs will know that I use the phrase a lot referring to the markets as being all about commodities. Commodities drive the markets.\r\n\r\nWhen I switch on my trading computers in the morning I always take a look at my lead indicators: - GOLD, OIL, COPPER, DXY, S&amp;P futures, AUD/USD, USD/CAD, USD/SEK and the AUD/JPY.\r\n\r\nI look for correlations and divergences. Of late, these have not always been in play, e.g. U.S equities rally the AUD/JPY and USD/JPY relationship is mostly off at the moment. GOLD and the USD (DXY) rally at the same time, usually this is an inverse relationship. Copper moves lower the AUD moves higher etc etc\r\n\r\nI realize that correlations will not always happen but when you have a pattern of non-correlation you know to be on your guard and look a bit further, it is something else to consider.\r\n\r\nLike many traders the discipline to be sidelined just watching, is as difficult for me as everyone else. I am a lot better at it than I used to be, in fact, substantially better but I still get suckered in at times; I am human.\r\n\r\nPatience is the key.\r\n\r\nFinally, I was asked about this during the week. My relationship with FXCM has now ended. I tried to get a reasonable settlement to the GBP/CHF loss on ”SNB Day”. They were just not interested. I have therefore parted company. If any reader was thinking of signing up with FXCM by clicking on their banner on my website, please choose another broker that has a banner such as, CWMFX, BLACKWELL GLOBAL or AVATRADE. The FXCM banner will be removed early this week.\r\n\r\nI am a little saddened to go, but it is a matter of principle now. I was looking for a gesture of goodwill; I got a gesture all right a raised middle finger!\r\n<ol start=\"2\">\r\n	<li><strong><span style=\"text-decoration: underline;\"> WHAT’S ON MY MIND: -\r\nTHE FUNDAMENTAL TRADERS OVERVIEW:</span></strong></li>\r\n</ol>\r\n<p style=\"text-align: center;\"><strong>EUROGROUP v GREECE… IT’S NOT OVER YET</strong></p>\r\nWTF.\r\n\r\nI could write for hours on this…. where do I start and how do I keep this brief?\r\n\r\nThere is a sitcom in this news event, never have I witnessed such a bloody circus since Billy Smarts pulled into Wavertree Playground in Liverpool. At the time I think I was 8, which this fact in itself tells you how long I have waited for Act II.\r\n\r\nThe Syriza Party lads certainly know how to put on a show. The two flutes Alex Tsipras (Prime Minister) and Yanis Varoufakis (Finance Minister) waltz into Brussels with no money, turn the bloody markets upside down, provide some sort of schoolboy prank on poor Schaeuble and the rest of the EUROGROUP, by claiming that their letter of February 18<sup>th</sup> should not have been sent, it was an error…and that the correct one was still at home….come on lads give us a fecking break here, this is 2015 you guys without ties have proper jobs now.\r\n\r\nEnough of this, so at the end of the day the six month extension turns out to be a four month extension instead. But it is cemented into place only if the Greek government fulfill in writing certain guarantees about reforms that the EUROGROUP (Germany) has insisted upon. The Greeks have until Tuesday to do this. Job done the EUROZONE is fixed. Fixed my a**e.\r\n\r\nThis is not done, there is NO DONE DEAL. It is the usual EUROZONE can kicking, can’t make f***ing decision fudge.\r\n\r\nThe basic reasons for this is are that the EUROGROUP fears CONTAGION and even more basic, what politician in the EUROZONE wants to be the one going into the history books as the one who broke up the EUROZONE. We all know GREECE has no money and cannot pay whatever is agreed or worked out.\r\n\r\nThe politicians involved and the bureaucrats hired in Brussels are not problem solvers.\r\n\r\nPoliticians are only interested in votes, popularity, expense accounts, cheese and fine wines. Politicians attribute blame… they point fingers it was not me - look at them its their fault. That is what they do best. Most of them have zero business experience and if they had they were far removed from the sharp end.\r\n\r\nThe Bureaucrats (non-elected) are mere puppets of EUROZONE politicians and the national politicians on dotted line relationships, so no real boss. They are mere pen pushing, desk sucking, jotter blotters.\r\n\r\nThe EUROZONE or as it was once called THE EUROPEAN UNION has never acted like a union since its inception.\r\n\r\nIts members from all over Europe, simply cannot all agree on the same subject. There is no collective foreign policy, no common social chapter, no taxation agreement on private citizens, no taxation harmony on how to treat companies whether domestic or multi-national, no banking union…the list is endless.\r\n\r\nBasically dreamt up by Germany and France to compete at the time with EFTA (European Free Trade Agreement) the EUROPEAN UNION simply is a not a union.\r\n\r\nGermany is the powerhouse of the EUROZONE with all the money, it has a great export tradition, a great reputation for quality in all it manufactures and it operates tight fiscal and monetary controls.\r\n\r\nCompare Germany to most of the other countries in the EUROZONE…. it is a chalk and cheese comparison.\r\n\r\nThe EUROZONE was brought about when times were good, and there were great ideas, with lots of cheese nibbling and gallons of wine thrown down politician’s necks. It was happy days all around. Nobody ever saw the Financial Crash of 2008.\r\n\r\nThe weaker economies in the EUROZONE; Ireland, Portugal, Spain, Italy, Cyprus and Greece suffered like crazy. Banks were not well capitalized, there were no EUROZONE rules it was a desperate time. Bailouts were hastily arranged to keep the UNION intact. Greece has had bailouts, I have lost count there has been so much restructuring.\r\n\r\nAfter all the German promises that Austerity would work (because they said it would) it just hasn\'t worked. People across Europe have suffered. The EUROZONE as a whole has poor economic data and is in DEFLATIONARY territory. Austerity was so good, that now 7 years after the FED and the BOE the ECB is now introducing QE (Quantitative Easing) as a way to try and grow the EUROZONE economically.\r\n\r\nWhat about poor GREECE?\r\n\r\nBasically there are 29 countries in the EUROZONE, of which 20 of them use the EUR (single-currency). Ignore the outer 9.\r\n\r\nThere are 20 countries basically working off the same cheque-book… think about this…20 different governments, 20 different countries with different problems….20 different parliamentary biases, whether they are left wing, right wing or centre focused, pro Europe or anti Europe. Finally and probably the least significant on the surface, but to people living in 20 different countries who have had their individual identities stolen by Brussels, there are 20 different cultures.\r\n\r\nThe cultural diversity between GREECE and GERMANY is huge…in absolutely everything. Even this past week the present Greek government had a swipe at the Germans for alleged money owed to them from World War II.\r\n\r\nIt’s hot in GREECE there is a “manyana” attitude…in GERMANY it’s wet and cold and the people will do whatever is today, right now, this moment.\r\n\r\nWhen it comes to finances in GREECE we have the “It’s close enough don’t worry about it - tomorrow we may find the difference who cares if we don\'t”, sort of attitude. Whereas, in GERMANY by comparison, if you don’t balance the books you are sacked.\r\n\r\nLook it’s dead simple… GERMANY is pooping its pants over CONTAGION risks in the EUROZONE.\r\n\r\nGREECE wants debt relief. Should GREECE get it? If they do Ireland and Portugal would be banging on Angela Merkels front door looking for the same.\r\n\r\nWe go debt relief now or we GREXIT in my opinion.\r\n\r\nThe EUROZONE are professional “Can kickers”. Germany has bought another 4 months of delay (assuming that the Greek government comes up (or wants to) with the assurances that the EUROGROUP wants). We will be here again in 4 months why?\r\n\r\nIts so pure and simple, GREECE has NO money it cannot pay its debts it cannot raise sufficient tax revenues to do so now or in the future. In addition no single politician wants to be the one who broke the EUROPEAN UNION. They will fudge and can kick so they do not have to make a decision. These are politicians they may not be in power when the final crunch day comes…leave it to the next guy to deal with.\r\n\r\nDebt forgiveness no matter how hard a pill to swallow is in my opinion the only way to draw a line under this and Ireland and Portugal, in fact all bailout recipients have to be part of the plan. We are pussy footing around as usual and all it does is create uncertainty for the markets, most of us know we will back to the same subject again very soon (four months).\r\n\r\nNow, if we GREXIT the EUROZONE how would that affect matters. It would take a few months to come into effect but that would be another CONTAGION that I strongly believe would spread…there would be calls for referendums all over Europe with the anti-Europe parties going into overdrive about re-gaining sovereignty with your own currency once again, free to re-value, de-value do whatever you want in your countries bests interests not in the Germans best interests. It would be panic like never seen before. That is why everything will be done to avoid the GREXIT, even a complete and utter bullshit 4-month deal.\r\n\r\nThat is why DEBT RELIEF is the only way out and it must include recipients of bailouts as well.\r\n\r\nThis is not over…. not by a long way.\r\n\r\n&nbsp;\r\n<ol start=\"3\">\r\n	<li><strong><span style=\"text-decoration: underline;\"> THE PREMIUM SERVICE:\r\n</span></strong></li>\r\n</ol>\r\n<strong><span style=\"text-decoration: underline;\">SUMMARY OF PERFORMANCE:</span></strong>\r\n\r\n<span style=\"text-decoration: underline;\">3.1 OVERVIEW:</span>\r\n\r\nFor 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, PROMOTIONS (if available), SIGN-UP and DISCLAIMER. Further details and how to join are all contained there. You will need at PayPal account to subscribe.\r\n\r\n<span style=\"text-decoration: underline;\">3.2 PREMIUM SERVICE – SUBSCRIPTION COSTS:</span>\r\n\r\nFull details regarding the PREMIUM SERVICE can be found on my website <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a>\r\n\r\nOn the welcome page there are a series of TABS at the top of the page that provide a summary of what the PREMIUM SERVICE is about and what you receive for your subscription.\r\n\r\nTHE 2015 SUBSCRIPTION BREAKDOWN IS AS FOLLOWS: -\r\n\r\n10 weeks - $200.00\r\n20 weeks - $350.00\r\n40 weeks - $500.00\r\n\r\n<span style=\"text-decoration: underline;\">3.3 TRADING REVIEW OF ACTIVITY and SUMMARY OF PERFORMANCE:</span>\r\n\r\nIt was better week for trading, I think, in spite of the volatility surrounding the EUROGROUP talks with GREECE. I had a couple of “sucker me in” trades at the end of the week. There is no greater person for self-criticism than myself; I am so annoyed and frustrated that I allowed myself to be suckered in, all my good efforts, so many hours at my desks, so much research and early mornings, (getting up at 2.30AM to trade the European Session), down the drain.\r\n\r\nMoving on to the market overview, we are not yet back to a directional “feel” as mentioned earlier in the blog but the signs are there. The commodity crosses and the CHF pairs offered some nice pip moves. In addition the EUR/GBP short was a nice profitable trade on a couple of occasions.\r\n\r\nI have been very active short the EUR/GBP but fear this may now be over as I am bearish on cable and no longer bullish as I was for the last couple of weeks. It just did not break out, which, has placed the bears back into control once again. The fundamental reasons mentioned earlier support my thoughts to remain bearish for the time being. I need to review the EUR/GBP reaction to both the EUR and GBP moving lower. Most of the times in past is meant stagnation. I do like trading this pair we will have to wait and see.\r\n\r\nRegular readers and subscribers will know that I am not a huge fan of trading the JPY pairs, this is based upon a previous smacking that I took. Yesterday, I left a 30 pip profitable position in the EUR/JPY to go and make coffee. Upon my return to my desk I had been stopped out on a 50-pip loss. The reason for the sudden about turn…was due to the rumours about the Greek government sending the wrong letter to the EUROGROUP requesting the bailout extension…. really! The trade really upset me, and, the fact that it was a JPY related pair just tells me that I am jinxed on this currency.\r\n\r\nI felt that as the week completed (EUROGROUP and GREECE removed) it was a little easier to set limit order trades. This year so far, my limit orders via RADAR TRADES for the PREMIUM SERVICE have under-performed. These were my strongest trades last year. I am both surprised and disappointed. This factor alone gives me a clear objective for my subscribers moving forward.\r\n\r\nNew in this week’s blog is section 4.4. I have been asked to supply more charts in the blog with my thoughts on future trade set-ups. Basically what charts am I looking at and why? What catches my eye on these charts? What trades are possibly there. As also requested I have kept these as clear and clean as possible with as few indicators as possible on them. I have tried to have just Fibonacci’s and Trend lines only. SMA’s, Bollinger Bands etc have been removed. They are stripped down as far as I can to make them easy to follow. You guys make take trades I do not from the thoughts on the charts!\r\n\r\nYear to date the PREMIUM SERVICE trades, had you just traded single-lot trades would have given you profits from the 105 completed trades so far in 2015 as follows: -\r\n<p style=\"text-align: center;\"><strong>MICRO LOT TRADERS:                 $237.00</strong>\r\n<strong>MINI LOT TRADERS:                      $2,370.00</strong>\r\n<strong>STANDARD LOT TRADERS:         $23,700.00</strong></p>\r\nThe usual summary charts detailing the week and year to date performances, are below: -\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">3.3.1. – PREMIUM SERVICE PROFIT/LOSS RATIOS:</span>\r\n\r\n<span style=\"text-decoration: underline;\"><a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/PROFIT-LOSS-RATIO-22022015.png\"><img class=\"aligncenter size-full wp-image-5332\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/PROFIT-LOSS-RATIO-22022015.png\" alt=\"PROFIT-LOSS RATIO 22022015\" width=\"408\" height=\"586\" /></a>\r\n</span>\r\n\r\n<span style=\"text-decoration: underline;\">3.3.2. – PREMIUM SERVICE RISK/REWARD ANALYSIS:</span>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/RISK-REWARD-22022015.png\"><img class=\"aligncenter size-full wp-image-5331\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/RISK-REWARD-22022015.png\" alt=\"RISK-REWARD 22022015\" width=\"436\" height=\"534\" /></a>\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">3.3.3. – PREMIUM SERVICE OVERALL TRADE SUMMARY MONTH &amp; YTD:</span>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/PREM-SERV-PROFITS1-22022015.png\"><img class=\"aligncenter size-full wp-image-5333\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/PREM-SERV-PROFITS1-22022015.png\" alt=\"PREM SERV PROFITS1 22022015\" width=\"450\" height=\"424\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/PREM-SERV-PROFITS2-22022015.png\"><img class=\"aligncenter size-full wp-image-5334\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/PREM-SERV-PROFITS2-22022015.png\" alt=\"PREM SERV PROFITS2 22022015\" width=\"472\" height=\"433\" /></a>\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">3.4 THE PREMIUM SERVICE – 2015 PROMOTION:</span>\r\n<p style=\"text-align: center;\"><span style=\"color: #ff0000;\"><strong><span style=\"text-decoration: underline;\">PLEASE NOTE THAT THIS PROMOTION\r\n</span></strong><strong><span style=\"text-decoration: underline;\">EXPIRES THIS COMING SATURDAY</span></strong></span></p>\r\nKeeping your PREMIUM SERVICE trades separate from your own trades can give you an instant direct performance comparison.\r\n\r\nIf you open a separate account with any of my trading partners / preferred brokers CWMFX, AvaTrade or Blackwell Global, you will be eligible for “BONUS WEEKS” to be added to your subscription.\r\n\r\nThis is in addition to the account-opening bonuses for new clients offered by AvaTrade, (see their website www.avatrade.com for full details), or, Blackwell Global (contact me directly for bonus details)\r\n\r\nThe promotion also applies to CWMFX accounts as well. They offer very tight rate spreads as an alternative to account opening bonuses offered by AvaTrade and Blackwell Global.\r\n\r\nIf you intend to be or are a longer-term position style trader only looking at your computer once a day tight rate spreads may not be as important to you and as such, the AvaTrade or Blackwell Global bonus may be more appealing to you.\r\n\r\nConversely, if you intend to be a more active trader the CWMFX tight rate spreads will be of more interest.\r\n\r\nThe choice is yours.\r\n\r\nThis promotion with my associated trading partners will expire of Saturday 28th\r\n\r\nFebruary 2015…it is really very limited: -\r\n<ol>\r\n	<li>Subscribe to the PREMIUM SERVICE:</li>\r\n</ol>\r\nYou will need to go to the welcome page of my website <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a>\r\n\r\nClick on the sign-up tab at the top of the page.\r\n<p style=\"text-align: center;\"><strong>2015 PREMIUM SERVICE SUBSCRIPTION RATES</strong></p>\r\n<p style=\"text-align: center;\"><strong>10 weeks = $200.00</strong>\r\n<strong>20 weeks = $350.00</strong>\r\n<strong>40 weeks = $500.00 (full year / annual subscription)</strong>\r\n<strong>NOTE: I limit my trading during periods of thin liquidity such as Christmas / New Year and Late July / August summer vacation times.</strong></p>\r\n<p style=\"text-align: center;\"><strong>Hence, 40 weeks is equal to an annual subscription.</strong></p>\r\n&nbsp;\r\n<ol start=\"2\">\r\n	<li>Open a LIVE account clicking on the “BANNER” of the broker of your choice on my website</li>\r\n</ol>\r\nThis will enable you to achieve a trading bonus direct from AvaTrade or BLACKWELL GLOBAL or opt for the tight rate spreads from CWMFX\r\n\r\nFor Blackwell Global advise me of what you are doing and I will guide you through the process.\r\n\r\nAll the banners are on the welcome page of my website - www.weeklyfxdrivethru.com\r\n\r\n&nbsp;\r\n<ol start=\"3\">\r\n	<li>PREMIUM SERVICE – BONUS WEEKS PROMOTION:</li>\r\n</ol>\r\nOnce the LIVE trading account is confirmed and funded, I will extended\r\n\r\nPREMIUM SERVICE subscription periods as follows after you have advised me what you have done via email at <a href=\"mailto:premiumservice@weeklyfxdrivethru.com\">premiumservice@weeklyfxdrivethru.com</a>: -\r\n\r\n10-week subscriptions will receive a bonus of 5 weeks (15 weeks total)\r\nYour subscription would be equivalent to $13.33 per week.\r\n\r\n20-week subscriptions will receive a bonus of 10 weeks (30 weeks total)\r\nYour subscription would be equivalent to $11.66 per week.\r\n\r\n40-week subscriptions will receive a bonus of 20 weeks (60 weeks total)\r\nYour subscription would be equivalent to $8.33 per week.\r\n\r\nThis promotion represents the best offer that I have participated in and has an unbelievable value. It is simply the best that I have ever promoted and is a great way to start trading in 2015.\r\n\r\nIt would hopefully be the start of a very profitable relationship together.\r\n\r\n&nbsp;\r\n<ol start=\"4\">\r\n	<li>PLEASE NOTE: - THE FOLLOWING CONDITIONS TO THE PROMOTION:</li>\r\n</ol>\r\nOnly broker accounts opened via the banner on my website www.weeklyfxdrivethru.com are accepted for the PREMIUM SERVICE BONUS WEEKS PROMOTION.\r\n\r\nFor the “BONUS WEEKS PROMOTION” in subscription weeks to the\r\n\r\nPREMIUM SERVICE to remain intact you must meet the AvaTrade, Blackwell Global or CWMFX requirements for operating your broker account. Should your account with AvaTrade, Blackwell Global or CWMFX cease to be valid and close the “BONUS WEEKS” segment of the PREMIUM SERVICE promotion will also be withdrawn.\r\n\r\nThis PREMIUM SERVICE “BONUS WEEKS PROMOTION” is only available with this offer and is 100% linked to the AvaTrade, Blackwell Global or CWMFX LIVE accounts being opened via the banners on the welcome page of my website www.weeklyfxdrivethru.com\r\n\r\n&nbsp;\r\n<ol start=\"4\">\r\n	<li><strong><span style=\"text-decoration: underline;\"> PREMIUM SERVICE SUBSCRIBER EXCLUSIVE CONTENT:</span></strong></li>\r\n</ol>\r\n(Section 4 is exclusive PREMIUM SERVICE content only available to PREMIUM SERVICE subscribers)\r\n\r\n<span style=\"text-decoration: underline;\">4.1 EDUCATION:\r\n</span>(The full list of all items and more from this section can be found in the PREMIUM SERVICE website in the Trade Essential area under the EDUCATION tab.)\r\n\r\n<span style=\"text-decoration: underline;\">4.2 THE PREMIUM SERVICE - EXISTING LIVE TRADES:</span>\r\n\r\n<span style=\"text-decoration: underline;\">4.3 THE PREMIUM SERVICE – EXISTING LIMIT ORDERS:</span>\r\n\r\n<span style=\"text-decoration: underline;\">4.4 POTENTIAL TRADES - WHAT CHARTS AM I LOOKING AT?</span>\r\n\r\n<span style=\"text-decoration: underline;\">4.5 MAJOR TRADING PAIRS WITH LONGER-TERM TRENDS MATCHING:</span>\r\n\r\n<span style=\"text-decoration: underline;\">4.6 THE KEY SUPPORT &amp; RESISTANCE LEVELS WITH THE USD MAJORS</span><strong><span style=\"text-decoration: underline;\">:\r\n</span></strong>(This content is now for PREMIUM SERVICE subscribers only, it allows me to refer to existing and future set-ups that form part of the PREMIUM SERVICE subscription)\r\n\r\n&nbsp;\r\n<ol start=\"5\">\r\n	<li><strong><span style=\"text-decoration: underline;\"> THE WEEK AHEAD: -\r\nWHAT AM I THINKING &amp; WHAT AM I LOOKING AT?</span></strong></li>\r\n</ol>\r\n<span style=\"text-decoration: underline;\">5.1 MAJOR FOREX NEWS THIS WEEK THAT INTERESTS ME:</span>\r\nSUNDAY: N/A.\r\n\r\nMONDAY: EUR – Draghi (ECB) Speaks.\r\n\r\nTUESDAY: USD – Janet Yellen (FED) Testifies.\r\nTUESDAY: CAD – Poloz (BOC) Speaks.\r\nTUESDAY: CNY – HSBC Flash Manufacturing PMi.\r\n\r\nWEDNESDAY: USD – Janet Yellen (FED) Testifies.\r\nWEDNESDAY: EUR – Draghi (ECB) Speaks.\r\nWEDNESDAY: NZD – Trade Balance.\r\nWEDNESDAY: AUD – PCE\r\n\r\nTHURSDAY: EUR – Targeted LTRO Data.\r\nTHURSDAY: CAD – Core CPi.\r\nTHURSDAY: USD – Core CPi.\r\nTHURSDAY: NZD – ANZ Business Confidence.\r\n\r\nFRIDAY: EUR – German Preliminary CPi.\r\nFRIDAY: USD – Preliminary GDP.\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">5.2 FINAL THOUGHTS / CLOSING COMMENTS:</span>\r\n\r\nWhat can I say, I am originally from Liverpool; nothing shocks me and nothing really surprises me. You learn the hard way in Liverpool and it sets you up for life.\r\n\r\nTrading Forex I totally enjoy 100%. I find it stimulating, annoying, frustrating, rewarding, fascinating and challenging. At the same time it is sometimes laughable. The funniest item of late was the GREEK LETTER to the EUROGROUP…. we sent the wrong letter… really? Then it was denied, then confirmed, then denied again. Then we hear of an accord being reached in the negotiations followed by denials of such an agreement… incredible stuff.\r\n\r\nThis week we have a lot of Central Bank Presidents speaking; this is more like it in my opinion. Central banks are like dinosaurs, huge oil tankers; they take forever to change direction. When they set out a policy that is it for a long time. I am really hoping for confirmation of recent statements to give the markets certainty moving forward …the markets love clear statements.\r\n\r\nAs always, there will be trades to trade and there will be some great opportunities, please trade in line with your RISK MANAGEMENT parameters from your TRADING PLAN. If you do not have a TRADE PLAN, in my opinion, you should, as this will help you with consistency.\r\n<p style=\"text-align: center;\"><strong>Consistency = longevity in trading and that is a critical goal.\r\nIT IS THE KEY MEASUREMENT</strong></p>\r\nBefore you enter a trade work out the risk, price it in $$$. Place your stop accordingly. PREMIUM SERVICE subscribers have a full library of information on RISK MANAGEMENT, RISK TOLERANCES and POSITION SIZING etc. available for reference 24x7.\r\n\r\n&nbsp;\r\n\r\nTake care.\r\n\r\nScott Pickering\r\nThe Pip Accumulator\r\nSaturday February 21st 2015\r\n\r\nEMAIL / FOLLOW ME AT:\r\ndrivethru@weeklyfxdrivethru.com\r\nTwitter: @ThePremService\r\n<span style=\"line-height: 1.5;\">Google+/scottpickering\r\n</span>Tumblr: thepipaccumulator\r\n\r\n&nbsp;\r\n\r\n<strong><span style=\"text-decoration: underline;\">DISCLAIMER &amp; OTHER DATA:</span></strong>\r\n\r\n<span style=\"text-decoration: underline;\">SUBSCRIBING TO THE “FREE VERSION” OF THE WEEKLY FX DRIVE THRU:</span>\r\n\r\nIf you like what you have almost completed reading and want to have THE WEEKLY FX DRIVE THRU delivered direct to your email inbox next week, here is what you do: -\r\n\r\nGo to my website: - <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a>\r\n\r\nOn 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.\r\n\r\nI do NOT sell your email data to anyone…do not worry.\r\n\r\n<span style=\"text-decoration: underline;\">THIRD PARTY COMPANIES WITH BANNERS ON MY WEBSITE:</span>\r\n\r\nThere 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.\r\n\r\nUnlike 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.\r\n\r\nBy virtue of the fact, I work with these companies almost daily. I am more than confident to have them advertise on my website.\r\n\r\nAny 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.\r\n\r\n<span style=\"text-decoration: underline;\">TRADING &amp; PERFORMANCES DISCLAIMER:</span>\r\n\r\nFLASH, 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.','EUROGROUP v GREECE… IT’S NOT OVER YET','','inherit','open','closed','','5359-revision-v1','','','2015-02-21 16:35:12','2015-02-21 21:35:12','',5359,'https://weeklyfxdrivethru.com/5359-revision-v1/',0,'revision','',0),(5361,1,'2015-02-21 16:36:03','2015-02-21 21:36:03','<p style=\"text-align: center;\"><strong>THE PREMIUM SERVICE\r\n</strong><strong>(The Home of Single-Lot $$$$ Trading)</strong></p>\r\n<strong>DATE: 22.02.2015\r\nREFERENCE: #140\r\n</strong><strong>BLOG VERSION: THE WEEKLY FX DRIVE THRU</strong>\r\n\r\n&nbsp;\r\n<ol>\r\n	<li><strong><span style=\"text-decoration: underline;\"> INTRODUCTION / LOOKING BACK OVER THE PAST WEEK:</span></strong></li>\r\n</ol>\r\nAt last, after a number of what I am calling Forex Tsunami’s over the past three weeks or so (SNB, ECB QE and a few rocking short squeezes), we had by comparison a normal week, although I must caveat this by saying the news surrounding Greece has kept the markets choppy, in fact let me be serious the markets around the Greek news were just plain stupid. Stupid is a great word but not as farcical as the press releases surrounding the infamous letter that was presented to the Germans by the Greek government which the Germans rejected.\r\n\r\nIt was the wrong letter that was sent to the EUROGROUP… for the love of God…give me a fecking break. What are we here…children trying to get out of gym class at school?\r\n\r\nIf that is not enough, the deal is still not done. In fact, I talk about it later so let me just stop there after just one or two more digs …. but, my oh my what an absolute shower of nonsense the EUROZONE is.\r\n\r\nIt is badly formulated, badly designed, and poorly managed by a collection of politicians who are not problem solvers but blame attributers. The EUROZONE bureaucrats are becoming fat on the constant hospitality driven cheese and fine wines industry, which is the only one to have really grown in the EUROZONE in the past 8 years.\r\n\r\nIt is an absolute mess, it is as I have said on sooooooooooooo many occasions before, a case of trying to fit a square peg in a round hole which just won’t work. Later…\r\n\r\nI move on….\r\n\r\nCombine the EUR choppiness with oil volatility and it has been a choppy market, but at the same time we have been operating within trading ranges for the week, albeit that one or two of them may have extended, it is still fundamentally a range bound market in Forex at the moment.\r\n\r\nPersonally, during the week I over-traded a couple of times and fell foul of these trades. My discipline is much better than it was when I first started trading and I do consider myself to be quite disciplined, but I do get caught up in the excitement of trading at times. I ended the week feeling much happier than I was at the start of the week from a macro viewpoint but I did get suckered into a few trades I would have been better to ignore.\r\n\r\nFrom a market perspective, I am disappointed that all the over-hanging directional fundamental news that we have is on the back burner as we run through the GREECE versus GERMANY bailout / loan extension, or possibly the GREXIT / default and the, “Is Oil dropping to $20 or not” questions?\r\n\r\nThere are still a number of geopolitical issues that are bubbling under such as the conflict in UKRAINE. I am still trying to work out the reasons for Merkel and Hollande traveling to meet Putin to broker a ceasefire that the whole western world knew would fail. We have on-going ISIS issues, although it looks like however tragic the stories may be of be-headings and torchings, we unfortunately have the “its over there not over here” factor in play. Whilst we are led to believe progress is being made in the mission against ISIS the killings are of a higher profile and make most of the headlines.\r\n\r\nThe last FED meeting minutes were released to an absolute thunder of comments in blogs and of course on twitter. The twitter explosion was unreal regarding whether or not the FED should raise rates this year and when. Some quite remarkable comments were posted. Emotions ran high regarding Yellen over-seeing what is best for the United States, following, what appeared to be a more dovish stance from the FED.\r\n\r\nMy thoughts are; these minutes were from the FED meeting which was held before the recent PMi and NFP data was released, so to be honest, how relevant are they, the data is of more importance than the minutes, so lets just move on. Janet Yellen speaks twice this coming week in Washington. I think we have the opportunity to hear a more relevant up-to-date view on where the FED’s position lies then.\r\n\r\nNot much publicity, but the ECB released its first set of minutes from its last meeting. Very interesting stuff and I must say for a central bank that claims complete independence, the minutes did include the odd political comment. The political comment looked to be of Germanic extraction… Was für eine Überraschung (quelle surprise)!!\r\n\r\nWe have some great fundamentals in the market that should set us up with directional trading in the coming weeks. I think that my most used word in the past two weeks, either on twitter is my blogs has been patient or patience. Forex trading is all about this. It is waiting for the trades to come to you based upon your research and analysis.\r\n\r\nI have spoken with about 10-15 traders in the past few days on email, twitter or SKYPE. A consistent theme and frustration came through in these conversations around the question of “when will this nonsense end?”, coupled with talk of the difficult markets full of chop bringing strange moves at times and far too many squeezes.\r\n\r\nWe know that we should have good fundamentals to trade from day-to-day (see below), however, moves are at times bizarre and are at complete odds with the fundamentals. I think the reason for this is very clear - the market is completely headline driven. The markets are driven by FEAR and GREED and right now FEAR drives the Forex market hence the chop, hence the volatility and hence the fact the most flippant comment can move a currency. We are being driven by headlines. That was totally without question visible last Friday with the GREECE nonsense.\r\n\r\nMy only comment is that patience is the answer. Look at what we have when we normalize again: -\r\n<ul>\r\n	<li>We have the highly speculative Oil market ready to take a death plunge into the unknown. We have targets of sub $40; Citi looking for TV time state $20.</li>\r\n	<li>We have GOLD on the brink of what I think could be a substantial move lower. I think the $1,000.00 level will be challenged this year.</li>\r\n	<li>Copper is still trending lower. If we break below $2.00 the move lower will intensify.</li>\r\n	<li>China is still struggling. This is difficult at times based upon whether you believe the data releases or not. The GDP rate is sliding year on year since 2012 and with demand for goods lower worldwide, it stands to reason that output will decrease and the need for commodities will also be lower.\r\n(see the chart below)\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/CHINA-GDP-GROWTH-22022015.png\"><img class=\"aligncenter size-full wp-image-5343\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/CHINA-GDP-GROWTH-22022015.png\" alt=\"CHINA GDP GROWTH 22022015\" width=\"750\" height=\"320\" /></a></li>\r\n	<li>We have Central Bank divergences. That should be giving us directional trades. The FED and BOE are hawkish. The ECB, BOJ, RBA and BOC are dovish. The RBNZ is not sure and the SNB can’t be trusted.</li>\r\n	<li>I am also noticing divergence with the USD/JPY to U.S. equities. This is something that may be bigger than we all think moving forward. There are reasons for this that are mainly rumours and corridor comments at the moment.</li>\r\n</ul>\r\nI could list more but the simple fact is that I think we need to be patient.\r\n\r\nRegular readers of my blogs will know that I use the phrase a lot referring to the markets as being all about commodities. Commodities drive the markets.\r\n\r\nWhen I switch on my trading computers in the morning I always take a look at my lead indicators: - GOLD, OIL, COPPER, DXY, S&amp;P futures, AUD/USD, USD/CAD, USD/SEK and the AUD/JPY.\r\n\r\nI look for correlations and divergences. Of late, these have not always been in play, e.g. U.S equities rally the AUD/JPY and USD/JPY relationship is mostly off at the moment. GOLD and the USD (DXY) rally at the same time, usually this is an inverse relationship. Copper moves lower the AUD moves higher etc etc\r\n\r\nI realize that correlations will not always happen but when you have a pattern of non-correlation you know to be on your guard and look a bit further, it is something else to consider.\r\n\r\nLike many traders the discipline to be sidelined just watching, is as difficult for me as everyone else. I am a lot better at it than I used to be, in fact, substantially better but I still get suckered in at times; I am human.\r\n\r\nPatience is the key.\r\n\r\nFinally, I was asked about this during the week. My relationship with FXCM has now ended. I tried to get a reasonable settlement to the GBP/CHF loss on ”SNB Day”. They were just not interested. I have therefore parted company. If any reader was thinking of signing up with FXCM by clicking on their banner on my website, please choose another broker that has a banner such as, CWMFX, BLACKWELL GLOBAL or AVATRADE. The FXCM banner will be removed early this week.\r\n\r\nI am a little saddened to go, but it is a matter of principle now. I was looking for a gesture of goodwill; I got a gesture all right a raised middle finger!\r\n\r\n&nbsp;\r\n<ol start=\"2\">\r\n	<li><strong><span style=\"text-decoration: underline;\"> WHAT’S ON MY MIND: -\r\nTHE FUNDAMENTAL TRADERS OVERVIEW:</span></strong></li>\r\n</ol>\r\n<p style=\"text-align: center;\"><strong>EUROGROUP v GREECE… IT’S NOT OVER YET</strong></p>\r\nWTF.\r\n\r\nI could write for hours on this…. where do I start and how do I keep this brief?\r\n\r\nThere is a sitcom in this news event, never have I witnessed such a bloody circus since Billy Smarts pulled into Wavertree Playground in Liverpool. At the time I think I was 8, which this fact in itself tells you how long I have waited for Act II.\r\n\r\nThe Syriza Party lads certainly know how to put on a show. The two flutes Alex Tsipras (Prime Minister) and Yanis Varoufakis (Finance Minister) waltz into Brussels with no money, turn the bloody markets upside down, provide some sort of schoolboy prank on poor Schaeuble and the rest of the EUROGROUP, by claiming that their letter of February 18<sup>th</sup> should not have been sent, it was an error…and that the correct one was still at home….come on lads give us a fecking break here, this is 2015 you guys without ties have proper jobs now.\r\n\r\nEnough of this, so at the end of the day the six month extension turns out to be a four month extension instead. But it is cemented into place only if the Greek government fulfill in writing certain guarantees about reforms that the EUROGROUP (Germany) has insisted upon. The Greeks have until Tuesday to do this. Job done the EUROZONE is fixed. Fixed my a**e.\r\n\r\nThis is not done, there is NO DONE DEAL. It is the usual EUROZONE can kicking, can’t make f***ing decision fudge.\r\n\r\nThe basic reasons for this is are that the EUROGROUP fears CONTAGION and even more basic, what politician in the EUROZONE wants to be the one going into the history books as the one who broke up the EUROZONE. We all know GREECE has no money and cannot pay whatever is agreed or worked out.\r\n\r\nThe politicians involved and the bureaucrats hired in Brussels are not problem solvers.\r\n\r\nPoliticians are only interested in votes, popularity, expense accounts, cheese and fine wines. Politicians attribute blame… they point fingers it was not me - look at them its their fault. That is what they do best. Most of them have zero business experience and if they had they were far removed from the sharp end.\r\n\r\nThe Bureaucrats (non-elected) are mere puppets of EUROZONE politicians and the national politicians on dotted line relationships, so no real boss. They are mere pen pushing, desk sucking, jotter blotters.\r\n\r\nThe EUROZONE or as it was once called THE EUROPEAN UNION has never acted like a union since its inception.\r\n\r\nIts members from all over Europe, simply cannot all agree on the same subject. There is no collective foreign policy, no common social chapter, no taxation agreement on private citizens, no taxation harmony on how to treat companies whether domestic or multi-national, no banking union…the list is endless.\r\n\r\nBasically dreamt up by Germany and France to compete at the time with EFTA (European Free Trade Agreement) the EUROPEAN UNION simply is a not a union.\r\n\r\nGermany is the powerhouse of the EUROZONE with all the money, it has a great export tradition, a great reputation for quality in all it manufactures and it operates tight fiscal and monetary controls.\r\n\r\nCompare Germany to most of the other countries in the EUROZONE…. it is a chalk and cheese comparison.\r\n\r\nThe EUROZONE was brought about when times were good, and there were great ideas, with lots of cheese nibbling and gallons of wine thrown down politician’s necks. It was happy days all around. Nobody ever saw the Financial Crash of 2008.\r\n\r\nThe weaker economies in the EUROZONE; Ireland, Portugal, Spain, Italy, Cyprus and Greece suffered like crazy. Banks were not well capitalized, there were no EUROZONE rules it was a desperate time. Bailouts were hastily arranged to keep the UNION intact. Greece has had bailouts, I have lost count there has been so much restructuring.\r\n\r\nAfter all the German promises that Austerity would work (because they said it would) it just hasn\'t worked. People across Europe have suffered. The EUROZONE as a whole has poor economic data and is in DEFLATIONARY territory. Austerity was so good, that now 7 years after the FED and the BOE the ECB is now introducing QE (Quantitative Easing) as a way to try and grow the EUROZONE economically.\r\n\r\nWhat about poor GREECE?\r\n\r\nBasically there are 29 countries in the EUROZONE, of which 20 of them use the EUR (single-currency). Ignore the outer 9.\r\n\r\nThere are 20 countries basically working off the same cheque-book… think about this…20 different governments, 20 different countries with different problems….20 different parliamentary biases, whether they are left wing, right wing or centre focused, pro Europe or anti Europe. Finally and probably the least significant on the surface, but to people living in 20 different countries who have had their individual identities stolen by Brussels, there are 20 different cultures.\r\n\r\nThe cultural diversity between GREECE and GERMANY is huge…in absolutely everything. Even this past week the present Greek government had a swipe at the Germans for alleged money owed to them from World War II.\r\n\r\nIt’s hot in GREECE there is a “manyana” attitude…in GERMANY it’s wet and cold and the people will do whatever is today, right now, this moment.\r\n\r\nWhen it comes to finances in GREECE we have the “It’s close enough don’t worry about it - tomorrow we may find the difference who cares if we don\'t”, sort of attitude. Whereas, in GERMANY by comparison, if you don’t balance the books you are sacked.\r\n\r\nLook it’s dead simple… GERMANY is pooping its pants over CONTAGION risks in the EUROZONE.\r\n\r\nGREECE wants debt relief. Should GREECE get it? If they do Ireland and Portugal would be banging on Angela Merkels front door looking for the same.\r\n\r\nWe go debt relief now or we GREXIT in my opinion.\r\n\r\nThe EUROZONE are professional “Can kickers”. Germany has bought another 4 months of delay (assuming that the Greek government comes up (or wants to) with the assurances that the EUROGROUP wants). We will be here again in 4 months why?\r\n\r\nIts so pure and simple, GREECE has NO money it cannot pay its debts it cannot raise sufficient tax revenues to do so now or in the future. In addition no single politician wants to be the one who broke the EUROPEAN UNION. They will fudge and can kick so they do not have to make a decision. These are politicians they may not be in power when the final crunch day comes…leave it to the next guy to deal with.\r\n\r\nDebt forgiveness no matter how hard a pill to swallow is in my opinion the only way to draw a line under this and Ireland and Portugal, in fact all bailout recipients have to be part of the plan. We are pussy footing around as usual and all it does is create uncertainty for the markets, most of us know we will back to the same subject again very soon (four months).\r\n\r\nNow, if we GREXIT the EUROZONE how would that affect matters. It would take a few months to come into effect but that would be another CONTAGION that I strongly believe would spread…there would be calls for referendums all over Europe with the anti-Europe parties going into overdrive about re-gaining sovereignty with your own currency once again, free to re-value, de-value do whatever you want in your countries bests interests not in the Germans best interests. It would be panic like never seen before. That is why everything will be done to avoid the GREXIT, even a complete and utter bullshit 4-month deal.\r\n\r\nThat is why DEBT RELIEF is the only way out and it must include recipients of bailouts as well.\r\n\r\nThis is not over…. not by a long way.\r\n\r\n&nbsp;\r\n<ol start=\"3\">\r\n	<li><strong><span style=\"text-decoration: underline;\"> THE PREMIUM SERVICE:\r\n</span></strong></li>\r\n</ol>\r\n<strong><span style=\"text-decoration: underline;\">SUMMARY OF PERFORMANCE:</span></strong>\r\n\r\n<span style=\"text-decoration: underline;\">3.1 OVERVIEW:</span>\r\n\r\nFor 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, PROMOTIONS (if available), SIGN-UP and DISCLAIMER. Further details and how to join are all contained there. You will need at PayPal account to subscribe.\r\n\r\n<span style=\"text-decoration: underline;\">3.2 PREMIUM SERVICE – SUBSCRIPTION COSTS:</span>\r\n\r\nFull details regarding the PREMIUM SERVICE can be found on my website <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a>\r\n\r\nOn the welcome page there are a series of TABS at the top of the page that provide a summary of what the PREMIUM SERVICE is about and what you receive for your subscription.\r\n\r\nTHE 2015 SUBSCRIPTION BREAKDOWN IS AS FOLLOWS: -\r\n\r\n10 weeks - $200.00\r\n20 weeks - $350.00\r\n40 weeks - $500.00\r\n\r\n<span style=\"text-decoration: underline;\">3.3 TRADING REVIEW OF ACTIVITY and SUMMARY OF PERFORMANCE:</span>\r\n\r\nIt was better week for trading, I think, in spite of the volatility surrounding the EUROGROUP talks with GREECE. I had a couple of “sucker me in” trades at the end of the week. There is no greater person for self-criticism than myself; I am so annoyed and frustrated that I allowed myself to be suckered in, all my good efforts, so many hours at my desks, so much research and early mornings, (getting up at 2.30AM to trade the European Session), down the drain.\r\n\r\nMoving on to the market overview, we are not yet back to a directional “feel” as mentioned earlier in the blog but the signs are there. The commodity crosses and the CHF pairs offered some nice pip moves. In addition the EUR/GBP short was a nice profitable trade on a couple of occasions.\r\n\r\nI have been very active short the EUR/GBP but fear this may now be over as I am bearish on cable and no longer bullish as I was for the last couple of weeks. It just did not break out, which, has placed the bears back into control once again. The fundamental reasons mentioned earlier support my thoughts to remain bearish for the time being. I need to review the EUR/GBP reaction to both the EUR and GBP moving lower. Most of the times in past is meant stagnation. I do like trading this pair we will have to wait and see.\r\n\r\nRegular readers and subscribers will know that I am not a huge fan of trading the JPY pairs, this is based upon a previous smacking that I took. Yesterday, I left a 30 pip profitable position in the EUR/JPY to go and make coffee. Upon my return to my desk I had been stopped out on a 50-pip loss. The reason for the sudden about turn…was due to the rumours about the Greek government sending the wrong letter to the EUROGROUP requesting the bailout extension…. really! The trade really upset me, and, the fact that it was a JPY related pair just tells me that I am jinxed on this currency.\r\n\r\nI felt that as the week completed (EUROGROUP and GREECE removed) it was a little easier to set limit order trades. This year so far, my limit orders via RADAR TRADES for the PREMIUM SERVICE have under-performed. These were my strongest trades last year. I am both surprised and disappointed. This factor alone gives me a clear objective for my subscribers moving forward.\r\n\r\nNew in this week’s blog is section 4.4. I have been asked to supply more charts in the blog with my thoughts on future trade set-ups. Basically what charts am I looking at and why? What catches my eye on these charts? What trades are possibly there. As also requested I have kept these as clear and clean as possible with as few indicators as possible on them. I have tried to have just Fibonacci’s and Trend lines only. SMA’s, Bollinger Bands etc have been removed. They are stripped down as far as I can to make them easy to follow. You guys make take trades I do not from the thoughts on the charts!\r\n\r\nYear to date the PREMIUM SERVICE trades, had you just traded single-lot trades would have given you profits from the 105 completed trades so far in 2015 as follows: -\r\n<p style=\"text-align: center;\"><strong>MICRO LOT TRADERS:                 $237.00</strong>\r\n<strong>MINI LOT TRADERS:                      $2,370.00</strong>\r\n<strong>STANDARD LOT TRADERS:         $23,700.00</strong></p>\r\nThe usual summary charts detailing the week and year to date performances, are below: -\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">3.3.1. – PREMIUM SERVICE PROFIT/LOSS RATIOS:</span>\r\n\r\n<span style=\"text-decoration: underline;\"><a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/PROFIT-LOSS-RATIO-22022015.png\"><img class=\"aligncenter size-full wp-image-5332\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/PROFIT-LOSS-RATIO-22022015.png\" alt=\"PROFIT-LOSS RATIO 22022015\" width=\"408\" height=\"586\" /></a>\r\n</span>\r\n\r\n<span style=\"text-decoration: underline;\">3.3.2. – PREMIUM SERVICE RISK/REWARD ANALYSIS:</span>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/RISK-REWARD-22022015.png\"><img class=\"aligncenter size-full wp-image-5331\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/RISK-REWARD-22022015.png\" alt=\"RISK-REWARD 22022015\" width=\"436\" height=\"534\" /></a>\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">3.3.3. – PREMIUM SERVICE OVERALL TRADE SUMMARY MONTH &amp; YTD:</span>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/PREM-SERV-PROFITS1-22022015.png\"><img class=\"aligncenter size-full wp-image-5333\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/PREM-SERV-PROFITS1-22022015.png\" alt=\"PREM SERV PROFITS1 22022015\" width=\"450\" height=\"424\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/PREM-SERV-PROFITS2-22022015.png\"><img class=\"aligncenter size-full wp-image-5334\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/PREM-SERV-PROFITS2-22022015.png\" alt=\"PREM SERV PROFITS2 22022015\" width=\"472\" height=\"433\" /></a>\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">3.4 THE PREMIUM SERVICE – 2015 PROMOTION:</span>\r\n<p style=\"text-align: center;\"><span style=\"color: #ff0000;\"><strong><span style=\"text-decoration: underline;\">PLEASE NOTE THAT THIS PROMOTION\r\n</span></strong><strong><span style=\"text-decoration: underline;\">EXPIRES THIS COMING SATURDAY</span></strong></span></p>\r\nKeeping your PREMIUM SERVICE trades separate from your own trades can give you an instant direct performance comparison.\r\n\r\nIf you open a separate account with any of my trading partners / preferred brokers CWMFX, AvaTrade or Blackwell Global, you will be eligible for “BONUS WEEKS” to be added to your subscription.\r\n\r\nThis is in addition to the account-opening bonuses for new clients offered by AvaTrade, (see their website www.avatrade.com for full details), or, Blackwell Global (contact me directly for bonus details)\r\n\r\nThe promotion also applies to CWMFX accounts as well. They offer very tight rate spreads as an alternative to account opening bonuses offered by AvaTrade and Blackwell Global.\r\n\r\nIf you intend to be or are a longer-term position style trader only looking at your computer once a day tight rate spreads may not be as important to you and as such, the AvaTrade or Blackwell Global bonus may be more appealing to you.\r\n\r\nConversely, if you intend to be a more active trader the CWMFX tight rate spreads will be of more interest.\r\n\r\nThe choice is yours.\r\n\r\nThis promotion with my associated trading partners will expire of Saturday 28th\r\n\r\nFebruary 2015…it is really very limited: -\r\n<ol>\r\n	<li>Subscribe to the PREMIUM SERVICE:</li>\r\n</ol>\r\nYou will need to go to the welcome page of my website <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a>\r\n\r\nClick on the sign-up tab at the top of the page.\r\n<p style=\"text-align: center;\"><strong>2015 PREMIUM SERVICE SUBSCRIPTION RATES</strong></p>\r\n<p style=\"text-align: center;\"><strong>10 weeks = $200.00</strong>\r\n<strong>20 weeks = $350.00</strong>\r\n<strong>40 weeks = $500.00 (full year / annual subscription)</strong>\r\n<strong>NOTE: I limit my trading during periods of thin liquidity such as Christmas / New Year and Late July / August summer vacation times.</strong></p>\r\n<p style=\"text-align: center;\"><strong>Hence, 40 weeks is equal to an annual subscription.</strong></p>\r\n&nbsp;\r\n<ol start=\"2\">\r\n	<li>Open a LIVE account clicking on the “BANNER” of the broker of your choice on my website</li>\r\n</ol>\r\nThis will enable you to achieve a trading bonus direct from AvaTrade or BLACKWELL GLOBAL or opt for the tight rate spreads from CWMFX\r\n\r\nFor Blackwell Global advise me of what you are doing and I will guide you through the process.\r\n\r\nAll the banners are on the welcome page of my website - www.weeklyfxdrivethru.com\r\n\r\n&nbsp;\r\n<ol start=\"3\">\r\n	<li>PREMIUM SERVICE – BONUS WEEKS PROMOTION:</li>\r\n</ol>\r\nOnce the LIVE trading account is confirmed and funded, I will extended\r\n\r\nPREMIUM SERVICE subscription periods as follows after you have advised me what you have done via email at <a href=\"mailto:premiumservice@weeklyfxdrivethru.com\">premiumservice@weeklyfxdrivethru.com</a>: -\r\n\r\n10-week subscriptions will receive a bonus of 5 weeks (15 weeks total)\r\nYour subscription would be equivalent to $13.33 per week.\r\n\r\n20-week subscriptions will receive a bonus of 10 weeks (30 weeks total)\r\nYour subscription would be equivalent to $11.66 per week.\r\n\r\n40-week subscriptions will receive a bonus of 20 weeks (60 weeks total)\r\nYour subscription would be equivalent to $8.33 per week.\r\n\r\nThis promotion represents the best offer that I have participated in and has an unbelievable value. It is simply the best that I have ever promoted and is a great way to start trading in 2015.\r\n\r\nIt would hopefully be the start of a very profitable relationship together.\r\n\r\n&nbsp;\r\n<ol start=\"4\">\r\n	<li>PLEASE NOTE: - THE FOLLOWING CONDITIONS TO THE PROMOTION:</li>\r\n</ol>\r\nOnly broker accounts opened via the banner on my website www.weeklyfxdrivethru.com are accepted for the PREMIUM SERVICE BONUS WEEKS PROMOTION.\r\n\r\nFor the “BONUS WEEKS PROMOTION” in subscription weeks to the\r\n\r\nPREMIUM SERVICE to remain intact you must meet the AvaTrade, Blackwell Global or CWMFX requirements for operating your broker account. Should your account with AvaTrade, Blackwell Global or CWMFX cease to be valid and close the “BONUS WEEKS” segment of the PREMIUM SERVICE promotion will also be withdrawn.\r\n\r\nThis PREMIUM SERVICE “BONUS WEEKS PROMOTION” is only available with this offer and is 100% linked to the AvaTrade, Blackwell Global or CWMFX LIVE accounts being opened via the banners on the welcome page of my website www.weeklyfxdrivethru.com\r\n\r\n&nbsp;\r\n<ol start=\"4\">\r\n	<li><strong><span style=\"text-decoration: underline;\"> PREMIUM SERVICE SUBSCRIBER EXCLUSIVE CONTENT:</span></strong></li>\r\n</ol>\r\n(Section 4 is exclusive PREMIUM SERVICE content only available to PREMIUM SERVICE subscribers)\r\n\r\n<span style=\"text-decoration: underline;\">4.1 EDUCATION:\r\n</span>(The full list of all items and more from this section can be found in the PREMIUM SERVICE website in the Trade Essential area under the EDUCATION tab.)\r\n\r\n<span style=\"text-decoration: underline;\">4.2 THE PREMIUM SERVICE - EXISTING LIVE TRADES:</span>\r\n\r\n<span style=\"text-decoration: underline;\">4.3 THE PREMIUM SERVICE – EXISTING LIMIT ORDERS:</span>\r\n\r\n<span style=\"text-decoration: underline;\">4.4 POTENTIAL TRADES - WHAT CHARTS AM I LOOKING AT?</span>\r\n\r\n<span style=\"text-decoration: underline;\">4.5 MAJOR TRADING PAIRS WITH LONGER-TERM TRENDS MATCHING:</span>\r\n\r\n<span style=\"text-decoration: underline;\">4.6 THE KEY SUPPORT &amp; RESISTANCE LEVELS WITH THE USD MAJORS</span><strong><span style=\"text-decoration: underline;\">:\r\n</span></strong>(This content is now for PREMIUM SERVICE subscribers only, it allows me to refer to existing and future set-ups that form part of the PREMIUM SERVICE subscription)\r\n\r\n&nbsp;\r\n<ol start=\"5\">\r\n	<li><strong><span style=\"text-decoration: underline;\"> THE WEEK AHEAD: -\r\nWHAT AM I THINKING &amp; WHAT AM I LOOKING AT?</span></strong></li>\r\n</ol>\r\n<span style=\"text-decoration: underline;\">5.1 MAJOR FOREX NEWS THIS WEEK THAT INTERESTS ME:</span>\r\nSUNDAY: N/A.\r\n\r\nMONDAY: EUR – Draghi (ECB) Speaks.\r\n\r\nTUESDAY: USD – Janet Yellen (FED) Testifies.\r\nTUESDAY: CAD – Poloz (BOC) Speaks.\r\nTUESDAY: CNY – HSBC Flash Manufacturing PMi.\r\n\r\nWEDNESDAY: USD – Janet Yellen (FED) Testifies.\r\nWEDNESDAY: EUR – Draghi (ECB) Speaks.\r\nWEDNESDAY: NZD – Trade Balance.\r\nWEDNESDAY: AUD – PCE\r\n\r\nTHURSDAY: EUR – Targeted LTRO Data.\r\nTHURSDAY: CAD – Core CPi.\r\nTHURSDAY: USD – Core CPi.\r\nTHURSDAY: NZD – ANZ Business Confidence.\r\n\r\nFRIDAY: EUR – German Preliminary CPi.\r\nFRIDAY: USD – Preliminary GDP.\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">5.2 FINAL THOUGHTS / CLOSING COMMENTS:</span>\r\n\r\nWhat can I say, I am originally from Liverpool; nothing shocks me and nothing really surprises me. You learn the hard way in Liverpool and it sets you up for life.\r\n\r\nTrading Forex I totally enjoy 100%. I find it stimulating, annoying, frustrating, rewarding, fascinating and challenging. At the same time it is sometimes laughable. The funniest item of late was the GREEK LETTER to the EUROGROUP…. we sent the wrong letter… really? Then it was denied, then confirmed, then denied again. Then we hear of an accord being reached in the negotiations followed by denials of such an agreement… incredible stuff.\r\n\r\nThis week we have a lot of Central Bank Presidents speaking; this is more like it in my opinion. Central banks are like dinosaurs, huge oil tankers; they take forever to change direction. When they set out a policy that is it for a long time. I am really hoping for confirmation of recent statements to give the markets certainty moving forward …the markets love clear statements.\r\n\r\nAs always, there will be trades to trade and there will be some great opportunities, please trade in line with your RISK MANAGEMENT parameters from your TRADING PLAN. If you do not have a TRADE PLAN, in my opinion, you should, as this will help you with consistency.\r\n<p style=\"text-align: center;\"><strong>Consistency = longevity in trading and that is a critical goal.\r\nIT IS THE KEY MEASUREMENT</strong></p>\r\nBefore you enter a trade work out the risk, price it in $$$. Place your stop accordingly. PREMIUM SERVICE subscribers have a full library of information on RISK MANAGEMENT, RISK TOLERANCES and POSITION SIZING etc. available for reference 24x7.\r\n\r\nTake care.\r\n\r\nScott Pickering\r\nThe Pip Accumulator\r\nSaturday February 21st 2015\r\n\r\nEMAIL / FOLLOW ME AT:\r\ndrivethru@weeklyfxdrivethru.com\r\nTwitter: @ThePremService\r\n<span style=\"line-height: 1.5;\">Google+/scottpickering\r\n</span>Tumblr: thepipaccumulator\r\n\r\n&nbsp;\r\n\r\n<strong><span style=\"text-decoration: underline;\">DISCLAIMER &amp; OTHER DATA:</span></strong>\r\n\r\n<span style=\"text-decoration: underline;\">SUBSCRIBING TO THE “FREE VERSION” OF THE WEEKLY FX DRIVE THRU:</span>\r\n\r\nIf you like what you have almost completed reading and want to have THE WEEKLY FX DRIVE THRU delivered direct to your email inbox next week, here is what you do: -\r\n\r\nGo to my website: - <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a>\r\n\r\nOn 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.\r\n\r\nI do NOT sell your email data to anyone…do not worry.\r\n\r\n<span style=\"text-decoration: underline;\">THIRD PARTY COMPANIES WITH BANNERS ON MY WEBSITE:</span>\r\n\r\nThere 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.\r\n\r\nUnlike 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.\r\n\r\nBy virtue of the fact, I work with these companies almost daily. I am more than confident to have them advertise on my website.\r\n\r\nAny 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.\r\n\r\n<span style=\"text-decoration: underline;\">TRADING &amp; PERFORMANCES DISCLAIMER:</span>\r\n\r\nFLASH, 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.','EUROGROUP v GREECE… IT’S NOT OVER YET','','inherit','open','closed','','5359-revision-v1','','','2015-02-21 16:36:03','2015-02-21 21:36:03','',5359,'https://weeklyfxdrivethru.com/5359-revision-v1/',0,'revision','',0),(5367,1,'2015-02-21 17:16:24','2015-02-21 22:16:24','<section class=\"one-sixth first\">\r\n<h4>Completed Trades Risk/Reward Analysis Archives</h4>\r\n<div class=\"menu\"><a class=\"flashmenu-item\" href=\"#\">2015</a></div>\r\n</section><section class=\"five-sixths\">\r\n<div class=\"one-half first\">\r\n<h2>This Year\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/RISK-REWARD-22022015.png\"><img class=\"aligncenter size-full wp-image-5331\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/RISK-REWARD-22022015.png\" alt=\"RISK-REWARD 22022015\" width=\"436\" height=\"534\" /></a></h2>\r\n&nbsp;\r\n\r\n</div>\r\n<div class=\"one-half\">\r\n<h2>PREVIOUS YEARS\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/12/PREM-SERV-RISK-REWARD-31122014-YTD.png\"><img class=\"aligncenter size-full wp-image-4964\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/12/PREM-SERV-RISK-REWARD-31122014-YTD.png\" alt=\"PREM SERV RISK-REWARD 31122014 YTD\" width=\"436\" height=\"543\" /></a></h2>\r\n</div>\r\n</section>','COMPLETED TRADES RISK / REWARD ANALYSIS','','inherit','open','closed','','5006-revision-v1','','','2015-02-21 17:16:24','2015-02-21 22:16:24','',5006,'https://weeklyfxdrivethru.com/5006-revision-v1/',0,'revision','',0),(5393,1,'2015-02-28 12:51:04','2015-02-28 17:51:04','','THE 5 MOST COMMON MISTAKES NEWBIE TRADERS MAKE','','inherit','open','closed','','the-5-most-common-mistakes-newbie-traders-make','','','2015-02-28 14:24:33','2015-02-28 19:24:33','',2538,'https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/THE-5-MOST-COMMON-MISTAKES-NEWBIE-TRADERS-MAKE.pdf',0,'attachment','application/pdf',0),(5394,1,'2015-02-28 13:13:39','2015-02-28 18:13:39','<h3 style=\"text-align: center;\"><strong>THE PREMIUM SERVICE\r\n</strong><strong>(The Home of Single-Lot $$$$ Trading)</strong></h3>\r\n<strong>DATE: 01.03.2015\r\n</strong><strong style=\"line-height: 1.5;\">REFERENCE: #49\r\n</strong><strong>BLOG: THE PREMIUM SERVICE</strong>\r\n\r\n&nbsp;\r\n<ol>\r\n	<li><strong><span style=\"text-decoration: underline;\"> INTRODUCTION / LOOKING BACK OVER THE PAST WEEK:</span></strong></li>\r\n</ol>\r\nThe Greek Tragedy played out early in the week with the EUROGROUP doing what they had to do by accepting the Greek governments proposals for an extension of 4 months to the existing credit line. Make no mistake, like a lot of people, I am fully expecting the GREEK BAILOUT ACT III to start around June this year.\r\n\r\nI was suckered on Tuesday with Janet Yellens’s testimony and entered en mass nearly all my favourite commodity cross-rates long… and… I am still in them. For the past 48 hours they have in fact just moved sideways, there has not been too much movement. I have all my commodity cross-rate trades in a separate account so that they do not distract me from any other trades on my main screen. So all I do is look at them once or twice a day and look at the net $$$ position. It has not really changed much since Wednesday’s close of business.\r\n\r\nThe other big news of the week was the U.S.$ index (DXY) breaking out on Thursday on the back of good CPi data.\r\n\r\nThese markets take no prisoners at all. In the early European session the DXY hit trend line support, I have no doubt that traders were lining up to be dollar bears as it approached support. After the data release it leaped up and didn’t just hit trend line resistance it broke through. I can imagine the $ bears were left swearing and cursing at their terminals. On Thursday we closed above the breakout level and held.\r\n\r\nThen on Friday, we had great GDP data which consolidated the move higher from which we broke lower on really poor housing and Chicago PMi numbers, only to bounce of the trend line and move higher. If the DXY is rallying on poor data this is something to hold on to and remember. This in itself for some traders is enough to keep them a USD bull.\r\n\r\nThe weekly DXY close is shown on the chart below.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/USD-DXY-SECTION-1-in-BLOG-01032015.png\"><img class=\"aligncenter size-large wp-image-5383\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/USD-DXY-SECTION-1-in-BLOG-01032015-1024x442.png\" alt=\"USD DXY SECTION 1 in BLOG 01032015\" width=\"1024\" height=\"442\" /></a>\r\n\r\n&nbsp;\r\n\r\nI am a USD bull, for reasons such as: -\r\n<ul>\r\n	<li>Central Bank divergences.</li>\r\n	<li>S&amp;P approaching the 261.8% fib extension (pullback imminent in my opinion).</li>\r\n	<li>JPY divergence.</li>\r\n	<li>GOLD struggling to keep above the $1,200.00 level.</li>\r\n	<li>OIL, although extremely choppy I do think is moving lower. Maybe not to $20 Citi forecast but at least a re-test of the recent lows and maybe a dip into the $30’s.</li>\r\n	<li>Finally, the DXY has broken higher above a 29-year trend line and has extremely bullish looking chart formations. The Central Bank divergences between the FED and ECB are enough to keep me bullish the USD.</li>\r\n</ul>\r\nThe markets are very range bound and will continue, in my opinion, to consolidate for a little while longer. The USD breakout is hard for market makers to understand. For basically a lifetime, they have been trading with a depressed weak currency and, more recently a safety blanket provided by the FED of keeping the markets heavily liquidated (QE) with low interest rates forcing investors to buy risk assets such as stocks to obtain a return. Both have now gone. We are in a transitory (love that word… if it’s good enough for Yellen and Draghi it’s good enough for me!) period.\r\n\r\nThis period of transition from QE (Quantitative Easing) to raising interest rates seems at times, when listening to analysts and guests on CNBC and Bloomberg, to be a period of dis-belief, it is weird. The FED will raise rates. This is a fact. The stock markets are supposed to be future pricing mechanisms, they know that it’s (rate rises) coming they just don\'t want to believe it as it will be the end of an era. So, the equity markets are really squeezing every last drop of juice out of the lemon before the inevitable hits.\r\n\r\nI haven’t mentioned GREECE yet. No doubt next week they will announce that after receiving the bailout/loan extension they will want to fully negotiate their bailout deal as part of their election-winning mandate for the Greek people. As I wrote last week, the EUROGROUP v GREECE … IT’S NOT OVER YET. In my opinion this has NOT EVEN STARTED!! Happy fun days are ahead.\r\n\r\nLike I said last week, I believe that we are going to have a period with a trending market for a little while as all the correlations should hopefully fall into place and line up correctly as equities fall back, which I believe they will do very soon.\r\n\r\nAs always, patience is the key.\r\n\r\n&nbsp;\r\n<ol start=\"2\">\r\n	<li><strong><span style=\"text-decoration: underline;\"> WHAT’S ON MY MIND: -\r\nTHE FUNDAMENTAL TRADERS OVERVIEW:</span></strong></li>\r\n</ol>\r\n<h4 style=\"text-align: center;\"><strong>DON’T BE CRAZY AND IGNORE USD STRENGTH…\r\n</strong><strong>THE USD RALLY GOES ON</strong><strong> </strong></h4>\r\nI referenced a few comments earlier with regards to the USD. I now want to expand my earlier comments with a few more thoughts.\r\n\r\nThere is something really building with the USD index (DXY). I have below 3 charts of the USD index (DXY). As usual I have kept the charts as clear and as simple as possible to follow.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/DXY-2.1-01032015.png\"><img class=\"aligncenter size-large wp-image-5384\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/DXY-2.1-01032015-1024x454.png\" alt=\"DXY 2.1 01032015\" width=\"1024\" height=\"454\" /></a>\r\n\r\nThe monthly chart above is very straightforward. It just shows the 29-year trend line that was broken in July 2014. Ever since that date the USD has been on the tear. One could argue that the sleeping giant has now awoken.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/DXY-2.2-01032015.png\"><img class=\"aligncenter size-large wp-image-5385\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/DXY-2.2-01032015-1024x441.png\" alt=\"DXY 2.2 01032015\" width=\"1024\" height=\"441\" /></a>\r\n\r\n&nbsp;\r\n\r\nThe purpose of this monthly chart is just to show that since the last high in 2002 to the lows in 2008 using a Fibonacci retracement we have just passed the 50% retracement level of that move at 94.60. The DXY closed last week just above a nice round number of 95.00 at 95.26 and the 61.8% retracement above 100.00 at 100.31 looms.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/DXY-2.3-01032015.png\"><img class=\"aligncenter size-large wp-image-5386\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/DXY-2.3-01032015-1024x447.png\" alt=\"DXY 2.3 01032015\" width=\"1024\" height=\"447\" /></a>\r\n\r\nThe purpose of this chart is just to drill down a little closer using a daily chart. It is very clear to see what an orderly move has taken place. It powers but it’s not explosive. Every substantial move higher has a period of consolidation in what is a bullish flag formation. I have drawn three bull flags on the move since July last year.\r\n\r\nThere is nothing FUNDAMENTAL in my mind that would stop this move continuing unless Janet Yellen at the FED decided to change U.S. Monetary Policy all of a sudden. The chances of that coming out of the “crash” are remote and in itself would probably send the U.S. economy into recession.\r\n\r\nWhat does it all mean for Forex traders?\r\n\r\nFor months as a FUNDAMENTAL trader 80% of my trades within the PREMIUM SERVICE have all been slanted towards USD strength using Central Bank divergences to further support my trade set-ups.\r\n\r\nI wrote the section below earlier in the blog…\r\n<p style=\"text-align: left;\"><strong><span style=\"color: #0000ff;\"><em>I am a USD bull, for reasons such as: -</em></span></strong></p>\r\n\r\n<ul style=\"text-align: left;\">\r\n	<li><strong><span style=\"color: #0000ff;\"><em>Central Bank divergences.</em></span></strong></li>\r\n	<li><strong><span style=\"color: #0000ff;\"><em>S&amp;P approaching the 261.8% fib extension (pullback imminent in my opinion).</em></span></strong></li>\r\n	<li><strong><span style=\"color: #0000ff;\"><em>JPY divergence.</em></span></strong></li>\r\n	<li><strong><span style=\"color: #0000ff;\"><em>GOLD struggling to keep above the $1,200.00 level.</em></span></strong></li>\r\n	<li><strong><span style=\"color: #0000ff;\"><em>OIL, although extremely choppy I do think is moving lower. Maybe not to $20 Citi forecast but at least a re-test of the recent lows and maybe a dip into the $30’s.</em></span></strong></li>\r\n</ul>\r\n<p style=\"text-align: left;\"><strong><span style=\"color: #0000ff;\"><em>Finally, the DXY has broken higher above a 29-year trend line and has extremely bullish looking chart formations. The Central Bank divergences between the FED and ECB are enough to keep me bullish the USD.</em></span></strong></p>\r\nWith all this said what are the trades that I am looking at?\r\n\r\nFirstly, if I truly believe that we are looking at DXY 100.00, and I think that this is a real possibility, so where does this move leave the USD majors?\r\n\r\nIn the past three years of writing THE WEEKLY FX DRIVE THRU I have talked a lot about inter-currency and inter-market correlations and divergences. These really do matter and are an important part of trading.\r\n\r\nPersonally the DXY move from the lows of around 70.00 to the present day of 95.00 has been orderly in my opinion and not explosive. (A good example of an explosive move would be parts of the BOJ/Abe/Kuroda QE move in the USD/JPY). To a large extent the easy move has been done. Markets see big round numbers as a tractor beam sucking them in towards it. I have no doubt that 100.00 has several algorithmic traders wetting their pants with excitement.\r\n\r\nWe may get an explosive move that is spurred on by the FED rate hike in June. I know, the markets are grabbing hard and hugging their security blankets really hard, but mother Janet may whip them away and push up rates only very modestly, but that would be enough in my opinion.\r\n\r\nThe point that I am going to make here is that with an explosive move I believe that all relationships / correlations whether via currency or markets will be 100% in sync.\r\n\r\nIf the Fed raises in the Autumn (Fall), we would see the continuation of the orderly move higher. This would allow for divergence to continue between currencies and markets. At the end of the day how we get there is irrelevant how we trade to get there is of greater importance.\r\n\r\nFirstly with a USD index to 100.00, you have to be bullish the USD.\r\n\r\nThe best trades are in my opinion based around Central Bank divergence. The most obvious being: -\r\n<p style=\"text-align: center;\"><strong>ECB versus FED – EUR/USD short</strong></p>\r\n<p style=\"text-align: center;\"><strong>RBA versus FED – AUD/USD short</strong></p>\r\n<p style=\"text-align: center;\"><strong>FED versus SNB – USD/CHF long</strong></p>\r\n<p style=\"text-align: center;\"><strong>BOE versus RBA – GBP/AUD long</strong></p>\r\nWhy complicate matters too much:\r\n\r\nBOJ - There are heavy rumours that the BOJ QE program is ending.\r\nRBNZ – They claim neutrality… hmmmn let’s run with that one!!\r\nBOC – Poloz says recent rate hike is a one off… yeah right!!\r\n\r\nThere are 4 pairs above that represent trading with FUNDAMENTALS based off the back of Central Bank policies. Are you a big enough trader to take on the $$$ held by a Central Bank - of course not.\r\n\r\nThe 4 trades above are as stated based around Central Bank divergence, I am ignoring all the other noises…. keeping it dead simple for positional traders. Remember pairs do not move in straight lines. Look at longer-term charts to give you the overview of the moves, try if you can to ignore the charts under at least 240 minutes (4 hours).\r\n\r\nWhat are the entry levels, targets and stop loss levels?\r\n\r\nTo get these you need to be a subscriber to the PREMIUM SERVICE (see section 3 of this blog for details).\r\n\r\nToday, the PREMIUM SERVICE is LIVE in 3 of the 4 trading pairs highlighted above, but it is very much at the embryonic stages and it’s certainly not too late to establish a position. I am looking to re-enter the EUR/USD, after taking a small intra-day profit on Friday. For subscribers this trade and others are highlighted in section 4.4. of this blog.\r\n\r\nThe one thing about the Forex market is that there are always opportunities. You need to be patient at all times. As a predominantly position style FUNDAMENTAL TRADER I can spend a week or two with trades losing money waiting for my move to establish. Currencies never move in a straight line. Even though I have outlined trades based upon USD strength there will be days when you trade on USD weakness within a USD strength longer-term move. This is what, in my opinion, make Forex trading so interesting.\r\n\r\n&nbsp;\r\n<ol start=\"3\">\r\n	<li><strong></strong><strong><span style=\"text-decoration: underline;\"> THE PREMIUM SERVICE:</span></strong>&nbsp;</li>\r\n</ol>\r\n<strong><span style=\"text-decoration: underline;\">SUMMARY OF PERFORMANCE:</span></strong>\r\n\r\n<span style=\"text-decoration: underline;\">3.1 OVERVIEW:</span>\r\n\r\nFor 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, PROMOTIONS (if available), SIGN-UP and DISCLAIMER. Further details and how to join are all contained there. You will need at PayPal account to subscribe.\r\n\r\n<span style=\"text-decoration: underline;\">3.2 PREMIUM SERVICE – SUBSCRIPTION COSTS:</span>\r\n\r\nFull details regarding the PREMIUM SERVICE can be found on my website <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a>\r\n\r\nOn the welcome page there are a series of TABS at the top of the page that provide a summary of what the PREMIUM SERVICE is about and what you receive for your subscription.\r\n\r\nTHE 2015 SUBSCRIPTION BREAKDOWN IS AS FOLLOWS: -\r\n\r\n10 weeks - $200.00\r\n20 weeks - $350.00\r\n40 weeks - $500.00\r\n\r\n<span style=\"text-decoration: underline;\">3.3.1. TRADING REVIEW OF ACTIVITY and SUMMARY OF PERFORMANCE:</span>\r\n\r\nI have been struggling with trades quite a lot this year in comparison to last year. I am not quite sure what to attribute this to; was it: -\r\n<ul>\r\n	<li>The SNB peg removal that hit me hard with my FXCM GBP/CHF trade.</li>\r\n	<li>The following week we had a day of three squeezes that rocked me as I was caught the wrong way.</li>\r\n	<li>The week after there was another monster squeeze, which again caught me the wrong way.</li>\r\n	<li>Then this week I was suckered like a “lamb to the slaughter“ on Yellen’s testimony. I read something as USD bullish it was in fact bearish.</li>\r\n</ul>\r\nI am not absolutely certain what it is. The PREMIUM SERVICE single lot trading account is healthy. My main trading account is lower due to the GBP/CHF trade and a couple of trades with greater position sizes that were closed in the squeezes detailed above.\r\n\r\nThe strange thing with regards to my trading patterns this year is that I am not making money from RADAR TRADES. This could be my source of some of my uncertainty with trading at the moment. Last year RADAR TRADES provided over $34,670.00 (STANDARD LOTS) in income from 175 trades (Average income per trade $198.11). This year so far RADAR TRADES have contributed a loss of $2,490.00 (STANDARD LOTS) from 39 trades (Average Loss per trade $63.84). I am not hanging around too much in the losing trades if you look at the profit / loss it’s about a ratio of 3:1 with last years profits versus this years losses so my decision making on when to take a loss is about normal.\r\n\r\nI love a challenge, so I will be getting on top of this in the coming weeks.\r\n\r\nLast week, I only closed a total of 8 trades; I carried forward my commodity cross-rate pairs, my standard commodity currency pairs and my CHF trades from last week into this coming week. In total 12 trades were carried forward. The trades closed this week were a net loss and this has been reflected in the totals on the excel spreadsheets below in section 3.3.3.\r\n\r\nI am very comfortable with all trades even though the commodity crosses have not yet moved into profit. They are close to it given their volatile nature and the daily ATR (Average True Range). They normally play catch up after the majors have made their initial move. I had hoped that this would have occurred Thursday / Friday last week but alas not yet. I seem to write this a great deal at the moment being both positive and patient is really important.\r\n\r\nI head into this week carrying forward 12 LIVE trades from last week and, as requested by one of my subscribers I will recode the FLASH TRADES that were entered into on Yellen’s testimony that are commodity cross rate pairs to FUNDAMENTAL TRADES. This will be done via email and or twitter. It makes sense to do this for your journals, however for me I have all my commodity cross rate pair set-ups placed with a separate broker away from my main accounts so that I can manage the returns and performance with this type of trade instantaneously.\r\n\r\nYear to date the PREMIUM SERVICE trades, had you just traded single-lot trades would have given you profits from the 113 completed trades so far in 2015 as follows: -\r\n<p style=\"text-align: center;\"><strong>MICRO LOT TRADERS:                 $218.20</strong>\r\n<strong>MINI LOT TRADERS:                      $2,182.00</strong>\r\n<strong>STANDARD LOT TRADERS:         $21,820.00</strong></p>\r\nThe usual summary charts detailing the week and year to date performances, are below: -\r\n\r\n<span style=\"text-decoration: underline;\">3.3.2. – PREMIUM SERVICE PROFIT/LOSS RATIOS:\r\n</span>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/PROFIT-LOSS-RATIOS-01032015.png\"><img class=\"aligncenter size-full wp-image-5371\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/PROFIT-LOSS-RATIOS-01032015.png\" alt=\"PROFIT-LOSS RATIOS 01032015\" width=\"422\" height=\"601\" /></a>\r\n\r\n<span style=\"text-decoration: underline;\">3.3.3. – PREMIUM SERVICE RISK/REWARD ANALYSIS:</span>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/RISK-REWARD-01032015.png\"><img class=\"aligncenter size-full wp-image-5372\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/RISK-REWARD-01032015.png\" alt=\"RISK-REWARD 01032015\" width=\"432\" height=\"558\" /></a>\r\n\r\n<span style=\"text-decoration: underline;\">3.3.4. – PREMIUM SERVICE FLASH TRADES PERFORMANCE FEBRUARY:</span>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/FLASH1-01032015.png\"><img class=\"aligncenter size-full wp-image-5375\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/FLASH1-01032015.png\" alt=\"FLASH1 01032015\" width=\"495\" height=\"529\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/FLASH2-01032015.png\"><img class=\"aligncenter size-full wp-image-5376\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/FLASH2-01032015.png\" alt=\"FLASH2 01032015\" width=\"504\" height=\"528\" /></a>\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">3.3.5. – PREMIUM SERVICE FLASH TRADES PERFORMANCE YTD:</span>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/FLASH-YTD-FEB-2015.png\"><img class=\"aligncenter size-full wp-image-5377\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/FLASH-YTD-FEB-2015.png\" alt=\"FLASH YTD FEB 2015\" width=\"348\" height=\"380\" /></a>\r\n\r\n<span style=\"text-decoration: underline;\">3.3.6. – PREMIUM SERVICE RADAR TRADES PERFORMANCE FEBRUARY:</span>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/RADAR1-01032015.png\"><img class=\"aligncenter size-full wp-image-5378\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/RADAR1-01032015.png\" alt=\"RADAR1 01032015\" width=\"557\" height=\"483\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/RADAR2-01032015.png\"><img class=\"aligncenter size-full wp-image-5379\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/RADAR2-01032015.png\" alt=\"RADAR2 01032015\" width=\"557\" height=\"489\" /></a>\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">3.3.7. – PREMIUM SERVICE RADAR TRADES PERFORMANCE YTD:</span>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/RADAR-YTD-FEB2015.png\"><img class=\"aligncenter size-full wp-image-5380\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/RADAR-YTD-FEB2015.png\" alt=\"RADAR YTD FEB2015\" width=\"358\" height=\"367\" /></a>\r\n\r\n<span style=\"text-decoration: underline;\">3.3.8. – PREMIUM SERVICE FUNDAMENTAL TRADES PERFORMANCE FEBRUARY</span>:\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/FUNDAMENTAL-01032015.png\"><img class=\"aligncenter size-full wp-image-5381\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/FUNDAMENTAL-01032015.png\" alt=\"FUNDAMENTAL 01032015\" width=\"511\" height=\"521\" /></a>\r\n\r\n<span style=\"text-decoration: underline;\">3.3.9. – PREMIUM SERVICE FUNDAMENTAL TRADES PERFORMANCE YTD:</span>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/FUNDAMENTAL-YTD-FEB2015.png\"><img class=\"aligncenter size-full wp-image-5382\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/FUNDAMENTAL-YTD-FEB2015.png\" alt=\"FUNDAMENTAL YTD FEB2015\" width=\"353\" height=\"373\" /></a>\r\n\r\n<span style=\"text-decoration: underline;\">3.3.10. – PREMIUM SERVICE OVERALL TRADE SUMMARY MONTH &amp; YTD:</span>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/PREM-SERV-PROFITS1-01032015.png\"><img class=\"aligncenter size-full wp-image-5373\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/PREM-SERV-PROFITS1-01032015.png\" alt=\"PREM SERV PROFITS1 01032015\" width=\"459\" height=\"441\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/PREM-SERV-PROFITS2-01032015.png\"><img class=\"aligncenter size-full wp-image-5374\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/PREM-SERV-PROFITS2-01032015.png\" alt=\"PREM SERV PROFITS2 01032015\" width=\"473\" height=\"431\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n<ol start=\"4\">\r\n	<li><strong><span style=\"text-decoration: underline;\"> PREMIUM SERVICE SUBSCRIBER EXCLUSIVE CONTENT:</span></strong></li>\r\n</ol>\r\n(Section 4 is exclusive PREMIUM SERVICE content only available to PREMIUM SERVICE subscribers)\r\n\r\n<span style=\"text-decoration: underline;\">4.1 EDUCATION:\r\n</span>(The full list of all items and more from this section can be found in the PREMIUM SERVICE website in the Trade Essential area under the EDUCATION tab.)\r\n<h3 style=\"text-align: center;\"><strong>THE 5 MOST COMMON MISTAKES NEWBIE TRADERS MAKE</strong></h3>\r\nIt isn’t always easy being a newbie. Whether it’s in taking on a new job, starting your own business, or trying out a different sport, the degree of uncertainty in a new and unfamiliar undertaking can sometimes be overwhelming and push you to make mistakes. Trading is no different. Here are five of the most common mistakes that newbie traders can make:\r\n<ol>\r\n	<li><strong> TRADING WITHOUT A PLAN OR JOURNAL</strong></li>\r\n</ol>\r\nEven newbies fresh out of school and in their first week of trading know that the market is as unpredictable as the next “American Idol” or “The Voice” sensation. More often than not, in the attempt to make the most out of the opportunities the market presents, you get so lost in the emotions that you forget what you are supposed to do.\r\n\r\nWith your own money on the line, planning and researching trades and not being impulsive are they key goals. To help you achieve this key goal, which is to become a consistently profitable trader, you need a TRADING PLAN and maybe a TRADING JOURNAL.\r\n\r\nIt can be a simple outline of your entry and exit conditions and your RISK MANAGEMENT rules, and it needs to be written down so that you can refer to it, record and review your progress. I use my TRADING PLAN all the time to refer to my entry and exit strategies. Your TRADING PLAN helps to keep you focused.\r\n<ol start=\"2\">\r\n	<li><strong> NOT SETTING A STOP LOSS</strong></li>\r\n</ol>\r\nTrading without a STOP LOSS is like trying to train a Labrador puppy to walk beside you nicely without a lead (unless you are Caesar Milan). It is impossible and crazy.\r\n\r\nStop Losses are there to protect. They are not 100% guaranteed as the SNB day (when the EUR/CHF peg was removed) illustrated. They are the best insurance you have however, to stop your account being wiped out. Over the past three to four weeks in particular we have seen very volatile markets and short squeezes that could potentially wipe out accounts. Therefore setting a STOP LOSS allows you to survive and fight another day even if you have a losing trade.\r\n<ol start=\"3\">\r\n	<li><strong> REVENGE TRADING</strong></li>\r\n</ol>\r\nYou would not be a trader if you had not ventured into this area at one time or another. Pure and simple REVENGE TRADING is when you get emotional over a losing trade and then try over aggressively to recuperate the loss. I have revenge traded and like most traders my REVENGE TRADE was twice or three times the position of the original trade.\r\n\r\nIt is difficult but you just have to try to accept the loss and not let your judgement in the future be clouded by your ego. The text books will tell you that instead of REVENGE TRADING you should focus your efforts and energy on analyzing what went wrong and figuring out what you can do to improve your subsequent trades.\r\n<ol start=\"4\">\r\n	<li><strong> LETTING LOSING TRADES RUN</strong></li>\r\n</ol>\r\nThis is an interesting subject. The textbooks also say that newbie traders often let their losing trades run all the way to their stops instead of cutting losses early.\r\n\r\nAs a POSITION TRADER I am at odds with some of the textbooks. I fully understand that mentally if the trade is going the wrong way, maybe on the back of a significant news event, it may be the correct action to exit a trade early, I have no problem with this.\r\n\r\nHowever, 90% of the Trade setups that I get involved with are based off Fibonacci levels and I usually allow an excess of 10 or 15 pips either way for stops or limits. It has been proved and well known that currencies will run to specific prices, test these levels and then stop and reverse. Therefore sometimes if you believe that your stop is at a level where there is a lot of price interest I see absolutely no problem letting the trade run because history has taught me that sometimes taking a loss is wrong if there is a huge amount of interest at your Fibonacci level.\r\n\r\nWhen you enter a trade you assess risk. This risk is based on possibly several indicators and chart analysis techniques. You have to set realistic stop loss levels and sometimes the best policy is not to exit the trade but to wait and let it reverse. This route preserves capital in your broker account and CAPITAL PRESERVATION is key to Forex success.\r\n\r\nKnowing when to let a losing trade runs comes with experience. If you have entered the trade with a clear objective and assessed the risk you sometimes need to allow the trade to move around within the parameters you have set. Having said that a geopolitical event or poor headline economic data sometimes means that no matter what you have planned, it needs to be forgotten and the trade exited.\r\n<ol start=\"5\">\r\n	<li><strong> HAVING UNREALISTIC EXPECTATIONS</strong></li>\r\n</ol>\r\nHaving goals in all aspects of life help you stay motivated and disciplined, the same can be said of Forex trading.\r\n\r\nThe goals you set have to be realistic and achievable without adding too much stress.\r\n\r\nHand in Hand with setting your goals whether you prefer, daily, weekly or monthly you also need to have a clear understanding of the steps that you need to take to achieve these goals. This is what your TRADING PLAN is for. You detail objectives and the critical success factors that you need to achieve the goals set.\r\n\r\nIn the education area there are several articles relating to TRADING PLANS.\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">4.2 THE PREMIUM SERVICE - EXISTING LIVE TRADES:</span>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/PREM-SERV-LIVE-TRADES-01032015.png\"><img class=\"aligncenter size-full wp-image-5388\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/PREM-SERV-LIVE-TRADES-01032015.png\" alt=\"PREM SERV LIVE TRADES 01032015\" width=\"713\" height=\"396\" /></a>\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">4.3 THE PREMIUM SERVICE – EXISTING LIMIT ORDERS:</span>\r\n\r\nNone. No spread sheet this week.\r\n\r\n<span style=\"text-decoration: underline;\">PLEASE NOTE:</span>\r\n\r\nRemember position sizes for suggested FUNDAMENTAL TRADES should be much smaller than usual, maybe only 10%-15% of your normal trading position size. It is only when we add to our positions that the fun begins. All FUNDAMENTAL trades posted via email contain a second page with details of where I will add trades and when and where stops are moved, the Stair Stepping Stop Protection (SSSP) is self-explanatory and I hope useful. Using this grows your trading position and helps protect the profits made, should the trade gain traction.\r\n\r\nThis is why I have a separate broker for commodity cross-RATE PAIR trades. It keeps my categories separate and allows me to spread my cash RISK around a few different brokers.\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">4.4 POTENTIAL TRADES - WHAT CHARTS AM I LOOKING AT?</span>\r\n\r\nI have been asked to have more charts in the blog. In particular the ones that I am working on and looking at because they catch my eye that may become potential trades in the trading sessions ahead. All the charts contain my thoughts. I will tweet and email as soon as these possible trades become LIMIT ORDERS.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/EURUSD-MONTHLY-01032015.png\"><img class=\"aligncenter size-large wp-image-5391\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/EURUSD-MONTHLY-01032015-1024x517.png\" alt=\"EURUSD MONTHLY 01032015\" width=\"1024\" height=\"517\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/EURGBP-MONTHLY-01032015.png\"><img class=\"aligncenter size-large wp-image-5392\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/EURGBP-MONTHLY-01032015-1024x517.png\" alt=\"EURGBP MONTHLY 01032015\" width=\"1024\" height=\"517\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/GBPUSD-DAILY-01032015.png\"><img class=\"aligncenter size-large wp-image-5390\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/GBPUSD-DAILY-01032015-1024x517.png\" alt=\"GBPUSD DAILY 01032015\" width=\"1024\" height=\"517\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/USDJPY-240M-01032015.png\"><img class=\"aligncenter size-large wp-image-5389\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/USDJPY-240M-01032015-1024x517.png\" alt=\"USDJPY 240M 01032015\" width=\"1024\" height=\"517\" /></a>\r\n\r\n<span style=\"text-decoration: underline;\">4.5 MAJOR TRADING PAIRS WITH LONGER-TERM TRENDS MATCHING:</span>\r\n\r\nThe following currency pairs have Short Term (DAILY), Medium Term (WEEKLY) and Long Term (MONTHLY) charts all trending in the same direction.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/PS-TRENDING-PAIRS-01032015.png\"><img class=\"aligncenter size-full wp-image-5387\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/PS-TRENDING-PAIRS-01032015.png\" alt=\"PS TRENDING PAIRS 01032015\" width=\"402\" height=\"527\" /></a>\r\n\r\n<span style=\"text-decoration: underline;\">4.6 THE KEY SUPPORT &amp; RESISTANCE LEVELS WITH THE USD MAJORS</span><strong><span style=\"text-decoration: underline;\">:\r\n</span></strong>(This content is now for PREMIUM SERVICE subscribers only, it allows me to refer to existing and future set-ups that form part of the PREMIUM SERVICE subscription)\r\n\r\n<strong>EUR/USD: Closing Price 1.1194.</strong> We have seen the EUR/USD fall about 200 pips in the last seven days. The GREECE bailout extended, the can kicked down the road, we move on until June / July when the subject of GREECE will raise its head once again; it may even be earlier. For now however, GREECE is on the back burner. What is next for the EUR/USD? I think, definitely a test of 1.1100 as soon as we can break below 1.1180. Resistance will be great 1.1260 and I am hoping for a pullback as close to this to re-enter short once again.\r\n\r\n<strong>GBP/USD: Closing Price 1.5435</strong>. The GBP/USD is a difficult trade for me to analyze. The BOE is talking hawkish, yet the pull of the EUROZONE weighs heavy on cable at times. Part of me believes that if the EUR/USD nose dives, the GBP/USD will be seriously dragged with it. That would not unduly concern the UK government as it makes exported goods cheaper. Looking ahead into this week at least there is support around 1.5370 and resistance is good at 1.5480.\r\n\r\n<strong>AUD/USD: Closing Price 0.7810</strong>. I am still waiting for this pair to drop off the edge of the cliff. Since the RBA cut rates this pair has bounced!! Yup it sucks. FUNDAMENTALLY I am short and will remain short on the basis that the RBA is easing and FED is NOT. In line with the RBA my goal objective remains at least 0.7000. For this coming week I am looking at support being around 0.7750 and resistance at 0.7920.\r\n\r\n<strong>NZD/USD: Closing Price 0.7564</strong>. This pair is STILL very VERY annoying. We are still range bound between 0.7450 and 0.7620.\r\n\r\n<strong>USD/CAD: Closing Price 1.2497.</strong> The oil proxy rampage continues, I do think that this pair will come through and be a great long trade. Support is at 1.2350 and resistance at 1.2600.\r\n\r\n<strong>USD/CHF: Closing Price 0.9539</strong>. We closed at support, which is great. I see this pair leaping forward this week and I think that after 0.9850 a run to parity could be on. Support is 0.9340.\r\n\r\n<strong>USD/JPY: Closing Price 119.58. </strong> This pair is sometimes following the S&amp;P and sometimes following the Nikkei. It is probably more divergent than anything else. It is without doubt range bound, support is at 118.20 and resistance is at 120.50.\r\n\r\n&nbsp;\r\n<ol start=\"5\">\r\n	<li><strong><span style=\"text-decoration: underline;\"> THE WEEK AHEAD: -\r\nWHAT AM I THINKING &amp; WHAT AM I LOOKING AT?</span></strong></li>\r\n</ol>\r\n<span style=\"text-decoration: underline;\">5.1 MAJOR FOREX NEWS THIS WEEK THAT INTERESTS ME:</span>\r\nSUNDAY: CNY – HSBC Final Manufacturing PMi.\r\n\r\nMONDAY: GBP – Manufacturing PMi.\r\nMONDAY: USD – ISM Manufacturing PMi.\r\nMONDAY: AUD – Building Approvals &amp; RBA Rate Statement,\r\n\r\nTUESDAY: GBP – Construction PMi.\r\nTUESDAY: CAD – GDP.\r\nTUESDAY: NZD – GDT Price Index.\r\nTUESDAY: AUD – GDP.\r\n\r\nWEDNESDAY: GBP – Services PMi.\r\nWEDNESDAY: USD – ADP Non-Farm Employment Change.\r\nWEDNESDAY: CAD – BOC Rate Statement.\r\nWEDNESDAY: AUD – Retail Sales &amp; Trade Balance.\r\n\r\nTHURSDAY: GBP – Interest Rate.\r\nTHURSDAY: EUR – Interest Rate and Draghi Press Conference.\r\nTHURSDAY: CAD – IVEY PMi.\r\n\r\nFRIDAY: CAD – Building Permits &amp; Trade Balance.\r\nFRIDAY: USD – Non-Farm Employment Change and Trade Balance.\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">5.2 FINAL THOUGHTS / CLOSING COMMENTS:</span>\r\n\r\nIt is a whopper of a week this week for news. There is a great deal of market moving news items, we should be ready for continued “chop”, but… this is the week we may break the ranges. Many of the currency pairs have been somewhat range bound recently, even though the limits of the ranges may have extended a little, we are still very much trading inside ranges. With all the front line news this week we have the chance to really break out with some big moves.\r\n\r\nThe pick of the news has to be: -\r\n<p style=\"text-align: center;\">RBA - Rate Statement\r\nCAD - Rate Statement\r\nECB - Press Conference\r\nUSD - Non-Farm Payrolls</p>\r\nAs always, there will be trades to trade and there will be some great opportunities, please trade in line with your RISK MANAGEMENT parameters from your TRADING PLAN. If you do not have a TRADE PLAN, in my opinion, you should, as this will help you with consistency.\r\n<p style=\"text-align: center;\"><strong>Consistency = longevity in trading and that is a critical goal.\r\nIT IS THE KEY MEASUREMENT</strong></p>\r\nBefore you enter a trade work out the risk, price it in $$$. Place your stop accordingly. PREMIUM SERVICE subscribers have a full library of information on RISK MANAGEMENT, RISK TOLERANCES and POSITION SIZING etc. available for reference 24x7.\r\n\r\nTake care.\r\n\r\nScott Pickering\r\nThe Pip Accumulator\r\nSunday March 1st 2015\r\n\r\nEMAIL / FOLLOW ME AT:\r\npremiumservice@weeklyfxdrivethru.com\r\nTwitter: @pipaccumulator\r\nTwitter: @ThePremService\r\n<span style=\"line-height: 1.5;\">Google+/scottpickering\r\n</span>Tumblr: thepipaccumulator\r\n\r\n&nbsp;\r\n\r\n<strong><span style=\"text-decoration: underline;\">DISCLAIMER &amp; OTHER DATA:</span></strong>\r\n\r\n<span style=\"text-decoration: underline;\">SUBSCRIBING TO THE “FREE VERSION” OF THE WEEKLY FX DRIVE THRU:</span>\r\n\r\nIf you like what you have almost completed reading and want to have THE WEEKLY FX DRIVE THRU delivered direct to your email inbox next week, here is what you do: -\r\n\r\nGo to my website: - <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a>\r\n\r\nOn 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.\r\n\r\nI do NOT sell your email data to anyone…do not worry...one less thing to worry about!\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">THIRD PARTY COMPANIES WITH BANNERS ON MY WEBSITE:</span>\r\n\r\nThere 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.\r\n\r\nUnlike 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.\r\n\r\nBy virtue of the fact, I work with these companies almost daily. I am more than confident to have them advertise on my website.\r\n\r\nAny 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.\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">TRADING &amp; PERFORMANCES DISCLAIMER:</span>\r\n\r\nFLASH, 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.','DON’T BE CRAZY AND IGNORE USD STRENGTH… THE USD RALLY GOES ON','','publish','open','closed','','dont-be-crazy-and-ignore-usd-strength-the-usd-rally-goes-on','','','2015-02-28 13:13:39','2015-02-28 18:13:39','',0,'https://weeklyfxdrivethru.com/?post_type=member_posts&#038;p=5394',0,'member_posts','',0),(5395,1,'2015-02-28 13:11:34','2015-02-28 18:11:34','<h3 style=\"text-align: center;\"><strong>THE PREMIUM SERVICE\r\n</strong><strong>(The Home of Single-Lot $$$$ Trading)</strong></h3>\r\n<strong>DATE: 01.03.2015\r\n</strong><strong style=\"line-height: 1.5;\">REFERENCE: #49\r\n</strong><strong>BLOG: THE PREMIUM SERVICE</strong>\r\n\r\n&nbsp;\r\n<ol>\r\n	<li><strong><span style=\"text-decoration: underline;\"> INTRODUCTION / LOOKING BACK OVER THE PAST WEEK:</span></strong></li>\r\n</ol>\r\nThe Greek Tragedy played out early in the week with the Eurogroup doing what they had to do by accepting the Greek governments proposals for an extension of 4 months to the existing credit line. Make no mistake, like a lot of people, I am fully expecting the GREEK BAILOUT ACT III to start around June this year.\r\n\r\nI was suckered on Tuesday with Janet Yellens’s testimony and entered en mass nearly all my favourite commodity cross-rates long… and… I am still in them. For the past 48 hours they have in fact just moved sideways, there has not been too much movement. I have all my commodity cross-rate trades in a separate account so that they do not distract me from any other trades on my main screen. So all I do is look at them once or twice a day and look at the net $$$ position. It has not really changed much since Wednesday’s close of business.\r\n\r\nThe other big news of the week was the U.S.$ index (DXY) breaking out on Thursday on the back of good CPi data.\r\n\r\nThese markets take no prisoners at all. In the early European session the DXY hit trend line support, I have no doubt that traders were lining up to be dollar bears as it approached support. After the data release it leaped up and didn’t just hit trend line resistance it broke through. I can imagine the $ bears were left swearing and cursing at their terminals. On Thursday we closed above the breakout level and held.\r\n\r\nThen on Friday, we had great GDP data which consolidated the move higher from which we broke lower on really poor housing and Chicago PMi numbers, only to bounce of the trend line and move higher. If the DXY is rallying on poor data this is something to hold on to and remember. This in itself for some traders is enough to keep them a USD bull.\r\n\r\nThe weekly DXY close is shown on the chart below.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/USD-DXY-SECTION-1-in-BLOG-01032015.png\"><img class=\"aligncenter size-large wp-image-5383\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/USD-DXY-SECTION-1-in-BLOG-01032015-1024x442.png\" alt=\"USD DXY SECTION 1 in BLOG 01032015\" width=\"1024\" height=\"442\" /></a>\r\n\r\n&nbsp;\r\n\r\nI am a USD bull, for reasons such as: -\r\n<ul>\r\n	<li>Central Bank divergences.</li>\r\n	<li>S&amp;P approaching the 261.8% fib extension (pullback imminent in my opinion).</li>\r\n	<li>JPY divergence.</li>\r\n	<li>GOLD struggling to keep above the $1,200.00 level.</li>\r\n	<li>OIL, although extremely choppy I do think is moving lower. Maybe not to $20 Citi forecast but at least a re-test of the recent lows and maybe a dip into the $30’s.</li>\r\n	<li>Finally, the DXY has broken higher above a 29-year trend line and has extremely bullish looking chart formations. The Central Bank divergences between the FED and ECB are enough to keep me bullish the USD.</li>\r\n</ul>\r\nThe markets are very range bound and will continue, in my opinion, to consolidate for a little while longer. The USD breakout is hard for market makers to understand. For basically a lifetime, they have been trading with a depressed weak currency and, more recently a safety blanket provided by the FED of keeping the markets heavily liquidated (QE) with low interest rates forcing investors to buy risk assets such as stocks to obtain a return. Both have now gone. We are in a transitory (love that word… if it’s good enough for Yellen and Draghi it’s good enough for me!) period.\r\n\r\nThis period of transition from QE (Quantitative Easing) to raising interest rates seems at times, when listening to analysts and guests on CNBC and Bloomberg, to be a period of dis-belief, it is weird. The FED will raise rates. This is a fact. The stock markets are supposed to be future pricing mechanisms, they know that it’s (rate rises) coming they just don\'t want to believe it as it will be the end of an era. So, the equity markets are really squeezing every last drop of juice out of the lemon before the inevitable hits.\r\n\r\nI haven’t mentioned GREECE yet. No doubt next week they will announce that after receiving the bailout/loan extension they will want to fully negotiate their bailout deal as part of their election-winning mandate for the Greek people. As I wrote last week, the EUROGROUP v GREECE … IT’S NOT OVER YET. In my opinion this has NOT EVEN STARTED!! Happy fun days are ahead.\r\n\r\nLike I said last week, I believe that we are going to have a period with a trending market for a little while as all the correlations should hopefully fall into place and line up correctly as equities fall back, which I believe they will do very soon.\r\n\r\nAs always, patience is the key.\r\n\r\n&nbsp;\r\n<ol start=\"2\">\r\n	<li><strong><span style=\"text-decoration: underline;\"> WHAT’S ON MY MIND: -\r\nTHE FUNDAMENTAL TRADERS OVERVIEW:</span></strong></li>\r\n</ol>\r\n<h4 style=\"text-align: center;\"><strong>DON’T BE CRAZY AND IGNORE USD STRENGTH…\r\n</strong><strong>THE USD RALLY GOES ON</strong><strong> </strong></h4>\r\nI referenced a few comments earlier with regards to the USD. I now want to expand my earlier comments with a few more thoughts.\r\n\r\nThere is something really building with the USD index (DXY). I have below 3 charts of the USD index (DXY). As usual I have kept the charts as clear and as simple as possible to follow.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/DXY-2.1-01032015.png\"><img class=\"aligncenter size-large wp-image-5384\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/DXY-2.1-01032015-1024x454.png\" alt=\"DXY 2.1 01032015\" width=\"1024\" height=\"454\" /></a>\r\n\r\nThe monthly chart above is very straightforward. It just shows the 29-year trend line that was broken in July 2014. Ever since that date the USD has been on the tear. One could argue that the sleeping giant has now awoken.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/DXY-2.2-01032015.png\"><img class=\"aligncenter size-large wp-image-5385\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/DXY-2.2-01032015-1024x441.png\" alt=\"DXY 2.2 01032015\" width=\"1024\" height=\"441\" /></a>\r\n\r\n&nbsp;\r\n\r\nThe purpose of this monthly chart is just to show that since the last high in 2002 to the lows in 2008 using a Fibonacci retracement we have just passed the 50% retracement level of that move at 94.60. The DXY closed last week just above a nice round number of 95.00 at 95.26 and the 61.8% retracement above 100.00 at 100.31 looms.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/DXY-2.3-01032015.png\"><img class=\"aligncenter size-large wp-image-5386\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/DXY-2.3-01032015-1024x447.png\" alt=\"DXY 2.3 01032015\" width=\"1024\" height=\"447\" /></a>\r\n\r\nThe purpose of this chart is just to drill down a little closer using a daily chart. It is very clear to see what an orderly move has taken place. It powers but it’s not explosive. Every substantial move higher has a period of consolidation in what is a bullish flag formation. I have drawn three bull flags on the move since July last year.\r\n\r\nThere is nothing FUNDAMENTAL in my mind that would stop this move continuing unless Janet Yellen at the FED decided to change U.S. Monetary Policy all of a sudden. The chances of that coming out of the “crash” are remote and in itself would probably send the U.S. economy into recession.\r\n\r\nWhat does it all mean for Forex traders?\r\n\r\nFor months as a FUNDAMENTAL trader 80% of my trades within the PREMIUM SERVICE have all been slanted towards USD strength using Central Bank divergences to further support my trade set-ups.\r\n\r\nI wrote the section below earlier in the blog…\r\n<p style=\"text-align: left;\"><strong><span style=\"color: #0000ff;\"><em>I am a USD bull, for reasons such as: -</em></span></strong></p>\r\n\r\n<ul style=\"text-align: left;\">\r\n	<li><strong><span style=\"color: #0000ff;\"><em>Central Bank divergences.</em></span></strong></li>\r\n	<li><strong><span style=\"color: #0000ff;\"><em>S&amp;P approaching the 261.8% fib extension (pullback imminent in my opinion).</em></span></strong></li>\r\n	<li><strong><span style=\"color: #0000ff;\"><em>JPY divergence.</em></span></strong></li>\r\n	<li><strong><span style=\"color: #0000ff;\"><em>GOLD struggling to keep above the $1,200.00 level.</em></span></strong></li>\r\n	<li><strong><span style=\"color: #0000ff;\"><em>OIL, although extremely choppy I do think is moving lower. Maybe not to $20 Citi forecast but at least a re-test of the recent lows and maybe a dip into the $30’s.</em></span></strong></li>\r\n</ul>\r\n<p style=\"text-align: left;\"><strong><span style=\"color: #0000ff;\"><em>Finally, the DXY has broken higher above a 29-year trend line and has extremely bullish looking chart formations. The Central Bank divergences between the FED and ECB are enough to keep me bullish the USD.</em></span></strong></p>\r\nWith all this said what are the trades that I am looking at?\r\n\r\nFirstly, if I truly believe that we are looking at DXY 100.00, and I think that this is a real possibility, so where does this move leave the USD majors?\r\n\r\nIn the past three years of writing THE WEEKLY FX DRIVE THRU I have talked a lot about inter-currency and inter-market correlations and divergences. These really do matter and are an important part of trading.\r\n\r\nPersonally the DXY move from the lows of around 70.00 to the present day of 95.00 has been orderly in my opinion and not explosive. (A good example of an explosive move would be parts of the BOJ/Abe/Kuroda QE move in the USD/JPY). To a large extent the easy move has been done. Markets see big round numbers as a tractor beam sucking them in towards it. I have no doubt that 100.00 has several algorithmic traders wetting their pants with excitement.\r\n\r\nWe may get an explosive move that is spurred on by the FED rate hike in June. I know, the markets are grabbing hard and hugging their security blankets really hard, but mother Janet may whip them away and push up rates only very modestly, but that would be enough in my opinion.\r\n\r\nThe point that I am going to make here is that with an explosive move I believe that all relationships / correlations whether via currency or markets will be 100% in sync.\r\n\r\nIf the Fed raises in the Autumn (Fall), we would see the continuation of the orderly move higher. This would allow for divergence to continue between currencies and markets. At the end of the day how we get there is irrelevant how we trade to get there is of greater importance.\r\n\r\nFirstly with a USD index to 100.00, you have to be bullish the USD.\r\n\r\nThe best trades are in my opinion based around Central Bank divergence. The most obvious being: -\r\n<p style=\"text-align: center;\"><strong>ECB versus FED – EUR/USD short</strong></p>\r\n<p style=\"text-align: center;\"><strong>RBA versus FED – AUD/USD short</strong></p>\r\n<p style=\"text-align: center;\"><strong>FED versus SNB – USD/CHF long</strong></p>\r\n<p style=\"text-align: center;\"><strong>BOE versus RBA – GBP/AUD long</strong></p>\r\nWhy complicate matters too much:\r\n\r\nBOJ - There are heavy rumours that the BOJ QE program is ending.\r\nRBNZ – They claim neutrality… hmmmn let’s run with that one!!\r\nBOC – Poloz says recent rate hike is a one off… yeah right!!\r\n\r\nThere are 4 pairs above that represent trading with FUNDAMENTALS based off the back of Central Bank policies. Are you a big enough trader to take on the $$$ held by a Central Bank - of course not.\r\n\r\nThe 4 trades above are as stated based around Central Bank divergence, I am ignoring all the other noises…. keeping it dead simple for positional traders. Remember pairs do not move in straight lines. Look at longer-term charts to give you the overview of the moves, try if you can to ignore the charts under at least 240 minutes (4 hours).\r\n\r\nWhat are the entry levels, targets and stop loss levels?\r\n\r\nTo get these you need to be a subscriber to the PREMIUM SERVICE (see section 3 of this blog for details).\r\n\r\nToday, the PREMIUM SERVICE is LIVE in 3 of the 4 trading pairs highlighted above, but it is very much at the embryonic stages and it’s certainly not too late to establish a position. I am looking to re-enter the EUR/USD, after taking a small intra-day profit on Friday. For subscribers this trade and others are highlighted in section 4.4. of this blog.\r\n\r\nThe one thing about the Forex market is that there are always opportunities. You need to be patient at all times. As a predominantly position style FUNDAMENTAL TRADER I can spend a week or two with trades losing money waiting for my move to establish. Currencies never move in a straight line. Even though I have outlined trades based upon USD strength there will be days when you trade on USD weakness within a USD strength longer-term move. This is what, in my opinion, make Forex trading so interesting.\r\n\r\n&nbsp;\r\n<ol start=\"3\">\r\n	<li><strong><span style=\"text-decoration: underline;\"> THE PREMIUM SERVICE:\r\n\r\n</span></strong></li>\r\n</ol>\r\n<strong><span style=\"text-decoration: underline;\">SUMMARY OF PERFORMANCE:</span></strong>\r\n\r\n<span style=\"text-decoration: underline;\">3.1 OVERVIEW:</span>\r\n\r\nFor 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, PROMOTIONS (if available), SIGN-UP and DISCLAIMER. Further details and how to join are all contained there. You will need at PayPal account to subscribe.\r\n\r\n<span style=\"text-decoration: underline;\">3.2 PREMIUM SERVICE – SUBSCRIPTION COSTS:</span>\r\n\r\nFull details regarding the PREMIUM SERVICE can be found on my website <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a>\r\n\r\nOn the welcome page there are a series of TABS at the top of the page that provide a summary of what the PREMIUM SERVICE is about and what you receive for your subscription.\r\n\r\nTHE 2015 SUBSCRIPTION BREAKDOWN IS AS FOLLOWS: -\r\n\r\n10 weeks - $200.00\r\n20 weeks - $350.00\r\n40 weeks - $500.00\r\n\r\n<span style=\"text-decoration: underline;\">3.3.1. TRADING REVIEW OF ACTIVITY and SUMMARY OF PERFORMANCE:</span>\r\n\r\nI have been struggling with trades quite a lot this year in comparison to last year. I am not quite sure what to attribute this to; was it: -\r\n<ul>\r\n	<li>The SNB peg removal that hit me hard with my FXCM GBP/CHF trade.</li>\r\n	<li>The following week we had a day of three squeezes that rocked me as I was caught the wrong way.</li>\r\n	<li>The week after there was another monster squeeze, which again caught me the wrong way.</li>\r\n	<li>Then this week I was suckered like a “lamb to the slaughter“ on Yellen’s testimony. I read something as USD bullish it was in fact bearish.</li>\r\n</ul>\r\nI am not absolutely certain what it is. The PREMIUM SERVICE single lot trading account is healthy. My main trading account is lower due to the GBP/CHF trade and a couple of trades with greater position sizes that were closed in the squeezes detailed above.\r\n\r\nThe strange thing with regards to my trading patterns this year is that I am not making money from RADAR TRADES. This could be my source of some of my uncertainty with trading at the moment. Last year RADAR TRADES provided over $34,670.00 (STANDARD LOTS) in income from 175 trades (Average income per trade $198.11). This year so far RADAR TRADES have contributed a loss of $2,490.00 (STANDARD LOTS) from 39 trades (Average Loss per trade $63.84). I am not hanging around too much in the losing trades if you look at the profit / loss it’s about a ratio of 3:1 with last years profits versus this years losses so my decision making on when to take a loss is about normal.\r\n\r\nI love a challenge, so I will be getting on top of this in the coming weeks.\r\n\r\nLast week, I only closed a total of 8 trades; I carried forward my commodity cross-rate pairs, my standard commodity currency pairs and my CHF trades from last week into this coming week. In total 12 trades were carried forward. The trades closed this week were a net loss and this has been reflected in the totals on the excel spreadsheets below in section 3.3.3.\r\n\r\nI am very comfortable with all trades even though the commodity crosses have not yet moved into profit. They are close to it given their volatile nature and the daily ATR (Average True Range). They normally play catch up after the majors have made their initial move. I had hoped that this would have occurred Thursday / Friday last week but alas not yet. I seem to write this a great deal at the moment being both positive and patient is really important.\r\n\r\nI head into this week carrying forward 12 LIVE trades from last week and, as requested by one of my subscribers I will recode the FLASH TRADES that were entered into on Yellen’s testimony that are commodity cross rate pairs to FUNDAMENTAL TRADES. This will be done via email and or twitter. It makes sense to do this for your journals, however for me I have all my commodity cross rate pair set-ups placed with a separate broker away from my main accounts so that I can manage the returns and performance with this type of trade instantaneously.\r\n\r\nYear to date the PREMIUM SERVICE trades, had you just traded single-lot trades would have given you profits from the 113 completed trades so far in 2015 as follows: -\r\n<p style=\"text-align: center;\"><strong>MICRO LOT TRADERS:                 $218.20</strong>\r\n<strong>MINI LOT TRADERS:                      $2,182.00</strong>\r\n<strong>STANDARD LOT TRADERS:         $21,820.00</strong></p>\r\nThe usual summary charts detailing the week and year to date performances, are below: -\r\n\r\n<span style=\"text-decoration: underline;\">3.3.2. – PREMIUM SERVICE PROFIT/LOSS RATIOS:\r\n</span>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/PROFIT-LOSS-RATIOS-01032015.png\"><img class=\"aligncenter size-full wp-image-5371\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/PROFIT-LOSS-RATIOS-01032015.png\" alt=\"PROFIT-LOSS RATIOS 01032015\" width=\"422\" height=\"601\" /></a>\r\n\r\n<span style=\"text-decoration: underline;\">3.3.3. – PREMIUM SERVICE RISK/REWARD ANALYSIS:</span>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/RISK-REWARD-01032015.png\"><img class=\"aligncenter size-full wp-image-5372\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/RISK-REWARD-01032015.png\" alt=\"RISK-REWARD 01032015\" width=\"432\" height=\"558\" /></a>\r\n\r\n<span style=\"text-decoration: underline;\">3.3.4. – PREMIUM SERVICE FLASH TRADES PERFORMANCE FEBRUARY:</span>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/FLASH1-01032015.png\"><img class=\"aligncenter size-full wp-image-5375\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/FLASH1-01032015.png\" alt=\"FLASH1 01032015\" width=\"495\" height=\"529\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/FLASH2-01032015.png\"><img class=\"aligncenter size-full wp-image-5376\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/FLASH2-01032015.png\" alt=\"FLASH2 01032015\" width=\"504\" height=\"528\" /></a>\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">3.3.5. – PREMIUM SERVICE FLASH TRADES PERFORMANCE YTD:</span>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/FLASH-YTD-FEB-2015.png\"><img class=\"aligncenter size-full wp-image-5377\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/FLASH-YTD-FEB-2015.png\" alt=\"FLASH YTD FEB 2015\" width=\"348\" height=\"380\" /></a>\r\n\r\n<span style=\"text-decoration: underline;\">3.3.6. – PREMIUM SERVICE RADAR TRADES PERFORMANCE FEBRUARY:</span>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/RADAR1-01032015.png\"><img class=\"aligncenter size-full wp-image-5378\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/RADAR1-01032015.png\" alt=\"RADAR1 01032015\" width=\"557\" height=\"483\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/RADAR2-01032015.png\"><img class=\"aligncenter size-full wp-image-5379\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/RADAR2-01032015.png\" alt=\"RADAR2 01032015\" width=\"557\" height=\"489\" /></a>\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">3.3.7. – PREMIUM SERVICE RADAR TRADES PERFORMANCE YTD:</span>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/RADAR-YTD-FEB2015.png\"><img class=\"aligncenter size-full wp-image-5380\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/RADAR-YTD-FEB2015.png\" alt=\"RADAR YTD FEB2015\" width=\"358\" height=\"367\" /></a>\r\n\r\n<span style=\"text-decoration: underline;\">3.3.8. – PREMIUM SERVICE FUNDAMENTAL TRADES PERFORMANCE FEBRUARY</span>:\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/FUNDAMENTAL-01032015.png\"><img class=\"aligncenter size-full wp-image-5381\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/FUNDAMENTAL-01032015.png\" alt=\"FUNDAMENTAL 01032015\" width=\"511\" height=\"521\" /></a>\r\n\r\n<span style=\"text-decoration: underline;\">3.3.9. – PREMIUM SERVICE FUNDAMENTAL TRADES PERFORMANCE YTD:</span>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/FUNDAMENTAL-YTD-FEB2015.png\"><img class=\"aligncenter size-full wp-image-5382\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/FUNDAMENTAL-YTD-FEB2015.png\" alt=\"FUNDAMENTAL YTD FEB2015\" width=\"353\" height=\"373\" /></a>\r\n\r\n<span style=\"text-decoration: underline;\">3.3.10. – PREMIUM SERVICE OVERALL TRADE SUMMARY MONTH &amp; YTD:</span>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/PREM-SERV-PROFITS1-01032015.png\"><img class=\"aligncenter size-full wp-image-5373\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/PREM-SERV-PROFITS1-01032015.png\" alt=\"PREM SERV PROFITS1 01032015\" width=\"459\" height=\"441\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/PREM-SERV-PROFITS2-01032015.png\"><img class=\"aligncenter size-full wp-image-5374\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/PREM-SERV-PROFITS2-01032015.png\" alt=\"PREM SERV PROFITS2 01032015\" width=\"473\" height=\"431\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n<ol start=\"4\">\r\n	<li><strong><span style=\"text-decoration: underline;\"> PREMIUM SERVICE SUBSCRIBER EXCLUSIVE CONTENT:</span></strong></li>\r\n</ol>\r\n(Section 4 is exclusive PREMIUM SERVICE content only available to PREMIUM SERVICE subscribers)\r\n\r\n<span style=\"text-decoration: underline;\">4.1 EDUCATION:\r\n</span>(The full list of all items and more from this section can be found in the PREMIUM SERVICE website in the Trade Essential area under the EDUCATION tab.)\r\n<h3 style=\"text-align: center;\"><strong>THE 5 MOST COMMON MISTAKES NEWBIE TRADERS MAKE</strong></h3>\r\nIt isn’t always easy being a newbie. Whether it’s in taking on a new job, starting your own business, or trying out a different sport, the degree of uncertainty in a new and unfamiliar undertaking can sometimes be overwhelming and push you to make mistakes. Trading is no different. Here are five of the most common mistakes that newbie traders can make:\r\n<ol>\r\n	<li><strong> TRADING WITHOUT A PLAN OR JOURNAL</strong></li>\r\n</ol>\r\nEven newbies fresh out of school and in their first week of trading know that the market is as unpredictable as the next “American Idol” or “The Voice” sensation. More often than not, in the attempt to make the most out of the opportunities the market presents, you get so lost in the emotions that you forget what you are supposed to do.\r\n\r\nWith your own money on the line, planning and researching trades and not being impulsive are they key goals. To help you achieve this key goal, which is to become a consistently profitable trader, you need a TRADING PLAN and maybe a TRADING JOURNAL.\r\n\r\nIt can be a simple outline of your entry and exit conditions and your RISK MANAGENET rules, and it needs to be written down so that you can refer to it, record and review your progress. I use my TRADING PLAN all the time to refer to my entry and exit strategies. Your TRADING PLAN helps to keep you focused.\r\n<ol start=\"2\">\r\n	<li><strong> NOT SETTING A STOP LOSS</strong></li>\r\n</ol>\r\nTrading without a STOP LOSS is like trying to train a Labrador puppy to walk beside you nicely without a lead (unless you are Caesar Milan). It is impossible and crazy.\r\n\r\nStop Losses are there to protect. They are not 100% guaranteed as the SNB day (when the EUR/CHF peg was removed) illustrated. They are the best insurance you have however, to stop your account being wiped out. Over the past three to four weeks in particular we have seen very volatile markets and short squeezes that could potentially wipe out accounts. Therefore setting a STOP LOSS allows you to survive and fight another day even if you have a losing trade.\r\n<ol start=\"3\">\r\n	<li><strong> REVENGE TRADING</strong></li>\r\n</ol>\r\nYou would not be a trader if you had not ventured into this area at one time or another. Pure and simple REVENGE TRADING is when you get emotional over a losing trade and then try over aggressively to recuperate the loss. I have revenge traded and like most traders my REVENGE TRADE was twice or three times the position of the original trade.\r\n\r\nIt is difficult but you just have to try to accept the loss and not let your judgement in the future be clouded by your ego. The text books will tell you that instead of REVENGE TRADING you should focus your efforts and energy on analyzing what went wrong and figuring out what you can do to improve your subsequent trades.\r\n<ol start=\"4\">\r\n	<li><strong> LETTING LOSING TRADES RUN</strong></li>\r\n</ol>\r\nThis is an interesting subject. The textbooks also say that newbie traders often let their losing trades run all the way to their stops instead of cutting losses early.\r\n\r\nAs a POSITION TRADER I am at odds with some of the textbooks. I fully understand that mentally if the trade is going the wrong way, maybe on the back of a significant news event, it may be the correct action to exit a trade early, I have no problem with this.\r\n\r\nHowever, 90% of the Trade setups that I get involved with are based off Fibonacci levels and I usually allow an excess of 10 or 15 pips either way for stops or limits. It has been proved and well known that currencies will run to specific prices, test these levels and then stop and reverse. Therefore sometimes if you believe that your stop is at a level where there is a lot of price interest I see absolutely no problem letting the trade run because history has taught me that sometimes taking a loss is wrong if there is a huge amount of interest at your Fibonacci level.\r\n\r\nWhen you enter a trade you assess risk. This risk is based on possibly several indicators and chart analysis techniques. You have to set realistic stop loss levels and sometimes the best policy is not to exit the trade but to wait and let it reverse. This route preserves capital in your broker account and CAPITAL PRESERVATION is key to Forex success.\r\n\r\nKnowing when to let a losing trade runs comes with experience. If you have entered the trade with a clear objective and assessed the risk you sometimes need to allow the trade to move around within the parameters you have set. Having said that a geopolitical event or poor headline economic data sometimes means that no matter what you have planned, it needs to be forgotten and the trade exited.\r\n<ol start=\"5\">\r\n	<li><strong> HAVING UNREALISTIC EXPECTATIONS</strong></li>\r\n</ol>\r\nHaving goals in all aspects of life help you stay motivated and disciplined, the same can be said of Forex trading.\r\n\r\nThe goals you set have to be realistic and achievable without adding too much stress.\r\n\r\nHand in Hand with setting your goals whether you prefer, daily, weekly or monthly you also need to have a clear understanding of the steps that you need to take to achieve these goals. This is what your TRADING PLAN is for. You detail objectives and the critical success factors that you need to achieve the goals set.\r\n\r\nIn the education area there are several articles relating to TRADING PLANS.\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">4.2 THE PREMIUM SERVICE - EXISTING LIVE TRADES:</span>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/PREM-SERV-LIVE-TRADES-01032015.png\"><img class=\"aligncenter size-full wp-image-5388\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/PREM-SERV-LIVE-TRADES-01032015.png\" alt=\"PREM SERV LIVE TRADES 01032015\" width=\"713\" height=\"396\" /></a>\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">4.3 THE PREMIUM SERVICE – EXISTING LIMIT ORDERS:</span>\r\n\r\nNone. No spread sheet this week.\r\n\r\n<span style=\"text-decoration: underline;\">PLEASE NOTE:</span>\r\n\r\nRemember position sizes for suggested FUNDAMENTAL TRADES should be much smaller than usual, maybe only 10%-15% of your normal trading position size. It is only when we add to our positions that the fun begins. All FUNDAMENTAL trades posted via email contain a second page with details of where I will add trades and when and where stops are moved, the Stair Stepping Stop Protection (SSSP) is self-explanatory and I hope useful. Using this grows your trading position and helps protect the profits made, should the trade gain traction.\r\n\r\nThis is why I have a separate broker for commodity cross-RATE PAIR trades. It keeps my categories separate and allows me to spread my cash RISK around a few different brokers.\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">4.4 POTENTIAL TRADES - WHAT CHARTS AM I LOOKING AT?</span>\r\n\r\nI have been asked to have more charts in the blog. In particular the ones that I am working on and looking at because they catch my eye that may become potential trades in the trading sessions ahead. All the charts contain my thoughts. I will tweet and email as soon as these possible trades become LIMIT ORDERS.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/EURUSD-MONTHLY-01032015.png\"><img class=\"aligncenter size-large wp-image-5391\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/EURUSD-MONTHLY-01032015-1024x517.png\" alt=\"EURUSD MONTHLY 01032015\" width=\"1024\" height=\"517\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/EURGBP-MONTHLY-01032015.png\"><img class=\"aligncenter size-large wp-image-5392\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/EURGBP-MONTHLY-01032015-1024x517.png\" alt=\"EURGBP MONTHLY 01032015\" width=\"1024\" height=\"517\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/GBPUSD-DAILY-01032015.png\"><img class=\"aligncenter size-large wp-image-5390\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/GBPUSD-DAILY-01032015-1024x517.png\" alt=\"GBPUSD DAILY 01032015\" width=\"1024\" height=\"517\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/USDJPY-240M-01032015.png\"><img class=\"aligncenter size-large wp-image-5389\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/USDJPY-240M-01032015-1024x517.png\" alt=\"USDJPY 240M 01032015\" width=\"1024\" height=\"517\" /></a>\r\n\r\n<span style=\"text-decoration: underline;\">4.5 MAJOR TRADING PAIRS WITH LONGER-TERM TRENDS MATCHING:</span>\r\n\r\nThe following currency pairs have Short Term (DAILY), Medium Term (WEEKLY) and Long Term (MONTHLY) charts all trending in the same direction.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/PS-TRENDING-PAIRS-01032015.png\"><img class=\"aligncenter size-full wp-image-5387\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/PS-TRENDING-PAIRS-01032015.png\" alt=\"PS TRENDING PAIRS 01032015\" width=\"402\" height=\"527\" /></a>\r\n\r\n<span style=\"text-decoration: underline;\">4.6 THE KEY SUPPORT &amp; RESISTANCE LEVELS WITH THE USD MAJORS</span><strong><span style=\"text-decoration: underline;\">:\r\n</span></strong>(This content is now for PREMIUM SERVICE subscribers only, it allows me to refer to existing and future set-ups that form part of the PREMIUM SERVICE subscription)\r\n\r\n<strong>EUR/USD: Closing Price 1.1194.</strong> We have seen the EUR/USD fall about 200 pips in the last seven days. The GREECE bailout extended, the can kicked down the road, we move on until June / July when the subject of GREECE will raise its head once again; it may even be earlier. For now however, GREECE is on the back burner. What is next for the EUR/USD? I think, definitely a test of 1.1100 as soon as we can break below 1.1180. Resistance will be great 1.1260 and I am hoping for a pullback as close to this to re-enter short once again.\r\n\r\n<strong>GBP/USD: Closing Price 1.5435</strong>. The GBP/USD is a difficult trade for me to analyze. The BOE is talking hawkish, yet the pull of the EUROZONE weighs heavy on cable at times. Part of me believes that if the EUR/USD nose dives, the GBP/USD will be seriously dragged with it. That would not unduly concern the UK government as it makes exported goods cheaper. Looking ahead into this week at least there is support around 1.5370 and resistance is good at 1.5480.\r\n\r\n<strong>AUD/USD: Closing Price 0.7810</strong>. I am still waiting for this pair to drop off the edge of the cliff. Since the RBA cut rates this pair has bounced!! Yup it sucks. FUNDAMENTALLY I am short and will remain short on the basis that the RBA is easing and FED is NOT. In line with the RBA my goal objective remains at least 0.7000. For this coming week I am looking at support being around 0.7750 and resistance at 0.7920.\r\n\r\n<strong>NZD/USD: Closing Price 0.7564</strong>. This pair is STILL very VERY annoying. We are still range bound between 0.7450 and 0.7620.\r\n\r\n<strong>USD/CAD: Closing Price 1.2497.</strong> The oil proxy rampage continues, I do think that this pair will come through and be a great long trade. Support is at 1.2350 and resistance at 1.2600.\r\n\r\n<strong>USD/CHF: Closing Price 0.9539</strong>. We closed at support, which is great. I see this pair leaping forward this week and I think that after 0.9850 a run to parity could be on. Support is 0.9340.\r\n\r\n<strong>USD/JPY: Closing Price 119.58. </strong> This pair is sometimes following the S&amp;P and sometimes following the Nikkei. It is probably more divergent than anything else. It is without doubt range bound, support is at 118.20 and resistance is at 120.50.\r\n\r\n&nbsp;\r\n<ol start=\"5\">\r\n	<li><strong><span style=\"text-decoration: underline;\"> THE WEEK AHEAD: -\r\nWHAT AM I THINKING &amp; WHAT AM I LOOKING AT?</span></strong></li>\r\n</ol>\r\n<span style=\"text-decoration: underline;\">5.1 MAJOR FOREX NEWS THIS WEEK THAT INTERESTS ME:</span>\r\nSUNDAY: CNY – HSBC Final Manufacturing PMi.\r\n\r\nMONDAY: GBP – Manufacturing PMi.\r\nMONDAY: USD – ISM Manufacturing PMi.\r\nMONDAY: AUD – Building Approvals &amp; RBA Rate Statement,\r\n\r\nTUESDAY: GBP – Construction PMi.\r\nTUESDAY: CAD – GDP.\r\nTUESDAY: NZD – GDT Price Index.\r\nTUESDAY: AUD – GDP.\r\n\r\nWEDNESDAY: GBP – Services PMi.\r\nWEDNESDAY: USD – ADP Non-Farm Employment Change.\r\nWEDNESDAY: CAD – BOC Rate Statement.\r\nWEDNESDAY: AUD – Retail Sales &amp; Trade Balance.\r\n\r\nTHURSDAY: GBP – Interest Rate.\r\nTHURSDAY: EUR – Interest Rate and Draghi Press Conference.\r\nTHURSDAY: CAD – IVEY PMi.\r\n\r\nFRIDAY: CAD – Building Permits &amp; Trade Balance.\r\nFRIDAY: USD – Non-Farm Employment Change and Trade Balance.\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">5.2 FINAL THOUGHTS / CLOSING COMMENTS:</span>\r\n\r\nIt is a whopper of a week this week for news. There is a great deal of market moving news items, we should be ready for continued “chop”, but… this is the week we may break the ranges. Many of the currency pairs have been somewhat range bound recently, even though the limits of the ranges may have extended a little, we are still very much trading inside ranges. With all the front line news this week we have the chance to really break out with some big moves.\r\n\r\nThe pick of the news has to be: -\r\n<p style=\"text-align: center;\">RBA - Rate Statement\r\nCAD - Rate Statement\r\nECB - Press Conference\r\nUSD - Non-Farm Payrolls</p>\r\nAs always, there will be trades to trade and there will be some great opportunities, please trade in line with your RISK MANAGEMENT parameters from your TRADING PLAN. If you do not have a TRADE PLAN, in my opinion, you should, as this will help you with consistency.\r\n<p style=\"text-align: center;\"><strong>Consistency = longevity in trading and that is a critical goal.\r\nIT IS THE KEY MEASUREMENT</strong></p>\r\nBefore you enter a trade work out the risk, price it in $$$. Place your stop accordingly. PREMIUM SERVICE subscribers have a full library of information on RISK MANAGEMENT, RISK TOLERANCES and POSITION SIZING etc. available for reference 24x7.\r\n\r\nTake care.\r\n\r\nScott Pickering\r\nThe Pip Accumulator\r\nSunday March 1st 2015\r\n\r\nEMAIL / FOLLOW ME AT:\r\npremiumservice@weeklyfxdrivethru.com\r\nTwitter: @pipaccumulator\r\nTwitter: @ThePremService\r\n<span style=\"line-height: 1.5;\">Google+/scottpickering\r\n</span>Tumblr: thepipaccumulator\r\n\r\n&nbsp;\r\n\r\n<strong><span style=\"text-decoration: underline;\">DISCLAIMER &amp; OTHER DATA:</span></strong>\r\n\r\n<span style=\"text-decoration: underline;\">SUBSCRIBING TO THE “FREE VERSION” OF THE WEEKLY FX DRIVE THRU:</span>\r\n\r\nIf you like what you have almost completed reading and want to have THE WEEKLY FX DRIVE THRU delivered direct to your email inbox next week, here is what you do: -\r\n\r\nGo to my website: - <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a>\r\n\r\nOn 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.\r\n\r\nI do NOT sell your email data to anyone…do not worry...one less thing to worry about!\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">THIRD PARTY COMPANIES WITH BANNERS ON MY WEBSITE:</span>\r\n\r\nThere 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.\r\n\r\nUnlike 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.\r\n\r\nBy virtue of the fact, I work with these companies almost daily. I am more than confident to have them advertise on my website.\r\n\r\nAny 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.\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">TRADING &amp; PERFORMANCES DISCLAIMER:</span>\r\n\r\nFLASH, 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.','DON’T BE CRAZY AND IGNORE USD STRENGTH… THE USD RALLY GOES ON','','inherit','open','closed','','5394-revision-v1','','','2015-02-28 13:11:34','2015-02-28 18:11:34','',5394,'https://weeklyfxdrivethru.com/5394-revision-v1/',0,'revision','',0),