(5755,1,'2015-04-11 12:15:12','2015-04-11 17:15:12','<p style=\"text-align: center;\"><strong>THE PREMIUM SERVICE\r\n</strong><strong>The Home of Single-Lot Trading\r\n</strong><strong>from\r\n</strong><strong>THE WEEKLY FX DRIVE THRU\r\n</strong><strong style=\"line-height: 1.5;\">www.weeklyfxdrivethru.com</strong></p>\r\n<strong>DATE: 12.04.2015\r\nREFERENCE: #148\r\n</strong><strong>BLOG: THE WEEKLY FX DRIVE THRU</strong>\r\n\r\n&nbsp;\r\n<ol>\r\n	<li><strong> INTRODUCTION - MY OVERVIEW OF THE FOREX MARKET:</strong></li>\r\n</ol>\r\n<span style=\"text-decoration: underline;\">LOOKING BACKWARDS, FORWARDS &amp; SIDEWAYS (FOR GOOD MEASURE) AT THE FX MARKET:</span>\r\n\r\n<span style=\"text-decoration: underline;\">1.1 - LOOKING BACKWARDS:</span>\r\n\r\n<span style=\"text-decoration: underline;\">RBA – RATE STATEMENT:</span>\r\n\r\nSurprise decision or not the RBA left interest rates unchanged last week. These buggers at the RBA are really reaping havoc on my shorter to medium term views of my TRADING PLAN. This is creating additional trading stress that I do not want or like to have.\r\n\r\nMy longer-term view is that the AUD/USD is going sub 0.7000. There are times when the market has me so frustrated that I feel like just opening an additional broker account to set-up a number of entries, place them LIVE, and then, take a look once a month at where I stand, and, add to positions and move stops on a monthly basis. These would be true FUNDAMENTAL longer-term trades, an account free from the noise and chop fest that we appear to be suffering all the time now. There’s a thought, and maybe something I should have done at the beginning of 2015.\r\n\r\nI digress, market makers had to reset their short to medium term outlook on the AUD overall and it was only through relentless USD buying on Thursday through Friday last week that AUD/USD started to fall again after a number of up days following the Rate announcement. In my opinion the jury is out on the short-term moves with the AUD, however, having just said that, bigger moves will take place from which the AUD will just follow like a good little puppy.\r\n\r\n<span style=\"text-decoration: underline;\">FOMC MEETING MINUTES:</span>\r\n\r\nCan someone please tell me why minutes that emanated from a Rate Statement, Financial Projections and a 90- minute Press Conference by the FED chair Janet Yellen, that were seen clearly as DOVISH, turn out a couple of weeks later to read as HAWKISH?\r\n\r\nThis is why a lot of new traders get switched off from the Forex Market. It is what it is, a fecked up collection of market makers, with the attention span and memory of a gnat. These people couldn’t organize a piss-up in a brewery. At times this is just total bollo**s.\r\n\r\nI tweeted PREMIUM SERVICE subscribers not to get suckered one way or the other and to expect a collection of knee-jerk reactions to the release of the minutes, and, basically that was what happened after the USD bulls finally got their way.\r\n\r\nThe crazy thing from my perspective is FED policy is NOT something that changes like the direction of the wind. It is similar to Moses returning from the mountain with the 10 commandments in tablets of stone. They will raise rates…. period. They have to because of credibility. If they feck up and have to reduce again so be it. All this fuss about timing is now so drawn out with speculation and it has created so much uncertainty it is now just boring to watch CNBC / BLOOMBERG anymore.\r\n\r\nIn any event a rate hike is coming. It could still come in June. DO NOT rule out anything if we get two months of good data the FED may say “feck it, what the hell lets do it now and if we have to chop it back to boost the fall / Christmas market so be it”.\r\n\r\n<span style=\"text-decoration: underline;\">GEOPOLITICAL EVENTS:</span>\r\n<ol>\r\n	<li><span style=\"text-decoration: underline;\"> GREECE:</span></li>\r\n</ol>\r\nSo the Tsipras regime paid the IMF. I did not see that coming, but, there are much bigger amounts due in the next 30 days as I wrote about last week, so this story is far from over.\r\n<ol start=\"2\">\r\n	<li><span style=\"text-decoration: underline;\"> OIL – YEMEN – IRAN:</span></li>\r\n</ol>\r\nThis is just getting messier by the day. I cannot see an end game here in the short-term.\r\n<ol start=\"3\">\r\n	<li><span style=\"text-decoration: underline;\"> OVERVIEW:</span></li>\r\n</ol>\r\nBeing a FUNDAMENTAL trader first then technical, the tensions around the EUROZONE and MIDDLE-EAST are playing havoc with my longer-term thoughts. I am finding it very hard to be anything other than a 30-minute trader at present. There is so much that could just implode and screw up day-swing trade potential set-ups, I am starting to view pullbacks as potential reversal patterns.\r\n\r\nI am receiving lots of comments from subscribers about basically a “GBAB ‘N GO” approach to Forex trading. Whilst I am not, or do not consider myself this type of trader, I certainly wasn’t in 2014…am I getting this way in 2015?\r\n\r\nBeing totally honest the number of scalping 15-25 pip trades have increased dramatically year over year.\r\n\r\nNo matter what, the geopolitical events around the world have to be taken into consideration if you are seriously looking to trade beyond a day trade.\r\n\r\n<span style=\"text-decoration: underline;\">1.2 - LOOKING FORWARDS:</span>\r\n\r\n<span style=\"text-decoration: underline;\">MAJOR FOREX NEWS THIS WEEK THAT INTERESTS ME:\r\n</span><span style=\"text-decoration: underline;\">(There are many more news items related to the Forex Market than the ones listed below. These are the ones that interest me. You can go to </span><a href=\"http://www.forexfasctory.com\">www.forexfasctory.com</a><span style=\"text-decoration: underline;\"> and </span><a href=\"http://www.tradingeconomics.com\">www.tradingeconomics.com</a><span style=\"text-decoration: underline;\"> for more comprehensive lists of all news events that are Forex related).</span>\r\n\r\nSUNDAY: N/A.\r\n\r\nMONDAY: N/A.\r\n\r\nTUESDAY: GBP – CPi.\r\nTUESDAY: USD – Core Retail Sales, PPi &amp; Retail Sales Data..\r\nTUESDAY: CNY – GDP.\r\n\r\nWEDNESDAY: EUR – ECB Press Conference.\r\nWEDNESDAY: CAD – BOC Rate Statement and Press Conference.\r\nWEDNESDAY: NZD – Dairy Auction Prices.\r\nWEDNESDAY: AUD – Employment Data\r\n\r\nTHURSDAY: N/A.\r\n\r\nFRIDAY: CAD – CPi and Core CPi Data.\r\nFRIDAY: USD – CPi and Core CPi Data.\r\n\r\n<span style=\"text-decoration: underline;\">MY THOUGHTS:</span>\r\n\r\nIt is a big week for news. There is a nice spread of items that have my attention.\r\n\r\nHaving had withdrawal symptoms from the ECB shifting away from monthly Press Conferences it will be great to see “old shifty” back in the hot seat. I will be looking forward to his comments related to GREECE. It should be pretty comfortable with the EUR/USD exchange rate how it sits at the moment, so maybe a low-key event is on the horizon…yeah right!\r\n\r\nThe Retail Sales and CPi data from the U.S. and Canada will be eagerly awaited, as this will direct central bank policy.\r\n\r\nAussie employment should be interesting with the mix between full and part-time ratios and the dairy prices usually have an impact on the Kiwi.\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">CHINA and HONG KONG BROKERAGES:</span>\r\n\r\nThis made the headlines recently but I omitted to mention this in my blog. It will be rectified now.\r\n\r\nRegulations between access to the HONK KONG market and CHINA have changed about being able to trade these markets based on location. Also the numbers of new broker accounts being opened in China is staggering. Over one million new accounts each week. I could not obtain confirmation on the number of FX versus EQUITIES accounts but would say the overwhelming number would be equity accounts.\r\n\r\nThis will be behind the rallies in Shanghai and Hong Kong, because all retail buyers do is buy. We have a new Chinese army of stock buyers without knowledge, training or experience on a buying spree of stocks. Freaky and scary… bear this in mind.\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">1.3 - LOOKING SIDEWAYS (FOR GOOD MEASURE):\r\n</span>\r\n\r\n<span style=\"text-decoration: underline;\">FOREX MARKET CONDITIONS:</span>\r\n\r\nSubscribers to the PREMIUM SERVICE will know that about 1.00-2.00AM (EDT) on Friday morning last week I aggressively placed protective stops across the LIVE trades at that time basically covering all trades. Looking at the Forex market at that time I noted the following: -\r\n<ul>\r\n	<li>GOLD – strong</li>\r\n	<li>USD (DXY) – strong</li>\r\n	<li>S&amp;P Futures – up</li>\r\n	<li>JPY – strong</li>\r\n	<li>European futures – very strong</li>\r\n	<li>U.S. 10-year bonds - strong</li>\r\n</ul>\r\nIn my opinion at that time something had to give, as it just did not read right. I was simply not prepared to go back to sleep and have a potential European squeeze take place and have me awaken to negative positions across the board on a Friday that would potentially be extremely difficult to exit. I would have either had to have taken losses or sit through the weekend, with the backdrop of geopolitical events hanging over me. No thanks. I banked $$$ and had a good night’s sleep.\r\n\r\nMy purpose for writing this is that as traders, we are all faced with these dilemmas; some traders will just blow their accounts, refill them and start again. Been there, done that,got the T-shirt, made the video…never again.\r\n\r\nIt is never a bad thing to bank $$$. To try and be a clever fecker sitting in trades with the risk of giving $$$ back to your broker does not make sense to me, in particular with today’s markets.\r\n\r\nAs most of you know, I took a big hit on the GBP/CHF on the SNB Peg removal day. I am now never, to the very best of my abilities giving too much back to the brokers again…ever.\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">FOREX LIQUIDITY:</span>\r\n\r\nI read in the Financial Times last week that the Forex Market, which is now a USD$5.3 trillion a day on average marketplace, has a problem (Over the past few weeks I have been moaning about too many squeezes and weird market trading conditions).\r\n\r\nIt appears the mechanics of the market have been drawn into question. Is there a decline, or cyclical decline in Forex trading? I would say that it was noted recently that some of the banks who traded Forex were cutting back after taking some heavy losses.\r\n\r\nWithout doubt greater regulation in the banking industry is weeding out the “under the counter cheating” that took place and is becoming very quickly a trait of the past. I know for a fact that thousands of retail traders left after the SNB. Over leveraged accounts were wiped out.\r\n\r\nWithout doubt we see much larger volatile moves and if you are caught the wrong way it can be very painful.\r\n\r\nTo cover this volatility many of the banks have widened the spreads offered to their supporting brokers. This has resulted in many retail traders closing their accounts and no longer trading FOREX. Without doubt if banks lose money they will protect themselves and they will have a lower risk appetite. I think I wrote that in February this year daily volumes compared with January were lower by 16%. This is a significant number.\r\n\r\nAs if we do not have enough to consider, we now have a permanent liquidity fear if one of the major FX banks is absent from the market for a few moments…. just brilliant… just great.\r\n\r\nForex trading is an evolving market and is going through changes. All we can do is get the head down, look for high probability trades, set the best stops we can based on our RISK TOLERANCES and trade.\r\n\r\nLike so many of you, I still find trading conditions quite difficult. I seem to be moving forwards and then backwards to move forwards again. It is very, very frustrating.\r\n\r\nThe PREMIUM SERVICE still moves forward in these sticky / changing conditions, so I am obviously delighted. It is much harder than last year but we still move forwards despite all that is thrown in our direction.\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>WHERE NEXT FOR THE DXY?\r\n</strong>(DXY the USD Index closed last Friday at 99.33)</p>\r\nWhat a difference interpretation makes on basically the same information.\r\n\r\nAt the March FOMC meeting, and with a subsequent statement, supporting charts and graphs plus FED Chair Yellen’s 90-minute press conference, the market viewed all things USD as DOVISH.\r\n\r\nA few weeks later the minutes of the two-day FOMC meeting are released and they are viewed as HAWKISH.\r\n\r\nWhat has changed?\r\n\r\nBugger all as far as I can see. The FED monetary policy has been pretty consistent, I know we are not helped with the fact that many local state FED governors keep mouthing off their own opinions to confuse the crap out of Wall Street and the Chicago pits. Guess what…? They are just brilliant at doing that. It may not be in a FED governor’s job specification to confuse the crap out of the market but they know they do it and they persist. It’s just a game, and a game with very high stakes all the same.\r\n\r\nThe markets appear to not be able to read what is actually written and place that in the brain for future reference.\r\n\r\nPart of this game is that Wall Street expects Janet Yellen to say on June 21<sup>st</sup> at 10.00AM interest rates will be increased by 0.25%. This is just the same as CNN trying to gain knowledge of U.S. troop tactics in a war zone, air them on TV and then wonder why so many U.S. soldiers die in combat, then they blame the government.\r\n\r\nAll we have right now as far as I can see is speculation over the date / timing of the FED rate hike. I believe the market now accepts what the FOMC have been stating for a few meetings now that there will be a rate hike in 2015. At least that is a step forward. So it’s just a case of, is it before the summer in June or after the summer in September.\r\n\r\nCNBC and BLOOMBERG are now in overdrive about a strong USD and the date of the rate hike.\r\n\r\nBetween now and the eventual rate hike what about the USD (DXY), where will it go?\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/USD-DXY-12042015.png\"><img class=\"aligncenter size-large wp-image-5716\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/USD-DXY-12042015-1024x448.png\" alt=\"USD (DXY) 12042015\" width=\"1024\" height=\"448\" /></a>\r\n\r\n&nbsp;\r\n\r\nFrom the chart above you can see that I am merely looking at the recent pattern of bull flag formations and continuing them forwards. The last measured move targets between 102.00 and 103.00. It will be very, very ambitious if we get to these levels but never rule anything out.\r\n\r\nFrom a Forex Trading perspective where for example does a DXY reading of 102.00 bring us in relation to the USD majors?\r\n\r\nThis is not an exact science but a move of about 220 in the DXY could have the following effect assuming all pairs tow the line…\r\n<ul>\r\n	<li>EUR/USD      1.0200 – 1.0300</li>\r\n	<li>GBP/USD      1.4100 – 1.4200</li>\r\n	<li>AUD/USD      0.7000 – 0.7100</li>\r\n	<li>NZD/USD      0.6800 – 0.7000</li>\r\n	<li>USD/CAD      1.3000 – 1.3200</li>\r\n	<li>USD/CHF      1.0200 – 1.0300</li>\r\n</ul>\r\nThese are big moves, but they are potentially what could happen if the DXY breaks higher to 102.00. Beyond 102.00 to 103.00 we would see the EUR/USD at parity or below.\r\n\r\nMaybe some of the recent calls on sub-parity for the EUR/USD are not so far off the mark?\r\n\r\nTime will tell. The other side of this article though is what happens once we reach 102.00 or 103.00? Do we consolidate or fall back to re-test 100.00? That is another article.\r\n\r\nJust bear in mind what could happen should the DXY break out above 100.00 in style!!\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 and SUBSCRIPTION PRICING:</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<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/PS-SUBSCRIPTION-COSTS-05042015.png\"><img class=\"aligncenter size-full wp-image-5668\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/PS-SUBSCRIPTION-COSTS-05042015.png\" alt=\"PS SUBSCRIPTION COSTS 05042015\" width=\"380\" height=\"473\" /></a>\r\n\r\n<span style=\"text-decoration: underline;\">3.2 - SUMMARY OF PERFORMANCE:</span>\r\n\r\n(Only the excel spreadsheets will now be shown in this section. References to previous, present and future trades “LAST WEEK’s TRADING REVIEW” will now be provided solely for the benefit of PREMIUM SERVICE subscribers and has been moved into section 4).\r\n\r\n<span style=\"text-decoration: underline;\">3.2.1 – PREMIUM SERVICE – COST INCOME ANALYSIS:</span>\r\n\r\n&nbsp;\r\n<p style=\"text-align: center;\">EMANATING FROM TRADE SET-UPS - 2015 to date:</p>\r\n<p style=\"text-align: center;\"><span style=\"text-decoration: underline;\">MICRO LOT TRADER</span> - 226 trades cost to trade = $22.60\r\n<strong>PROFIT</strong> from 226 trades = $324.90</p>\r\n<p style=\"text-align: center;\"><span style=\"text-decoration: underline;\">MINI LOT TRADER</span> - 226 trades cost to trade = $226.00\r\n<strong>PROFIT</strong> from 226 trades = $3,249.00</p>\r\n<p style=\"text-align: center;\"><span style=\"text-decoration: underline;\">STANDARD LOT TRADER</span> - 226 trades cost to trade = $2,226.00\r\n<strong>PROFIT</strong> from 226 trades = $32,490.00</p>\r\n&nbsp;\r\n<p style=\"text-align: center;\"><strong><span style=\"color: #0000ff;\"><span style=\"text-decoration: underline;\">PLEASE NOTE:</span></span></strong></p>\r\n<p style=\"text-align: center;\"><strong><span style=\"color: #0000ff;\">If this sort of risk/reward income opportunity interests you:</span></strong>\r\n<strong><span style=\"color: #0000ff;\">To join the PREMIUM SERVICE at the introductory level subscribe to the initial</span></strong>\r\n<strong><span style=\"color: #0000ff;\">4 week subscription and receive a 5<sup>th</sup> week FREE!!</span></strong>\r\n<strong><span style=\"color: #0000ff;\">See the PROMOTIONS tab on my landing page at</span></strong>\r\n<strong><span style=\"color: #0000ff;\">www.weeklyfxdrivrethru.com</span></strong></p>\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">3.2.2 - PREMIUM SERVICE - PROFIT/LOSS RATIOS:</span>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/PROFIT-LOSS-RATIO-12042015.png\"><img class=\"aligncenter size-full wp-image-5718\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/PROFIT-LOSS-RATIO-12042015.png\" alt=\"PROFIT-LOSS RATIO 12042015\" width=\"410\" height=\"581\" /></a>\r\n\r\n<span style=\"text-decoration: underline;\">3.2.3 - PREMIUM SERVICE - RISK/REWARD ANALYSIS:</span>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/RISK-REWARD-12042015.png\"><img class=\"aligncenter size-full wp-image-5717\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/RISK-REWARD-12042015.png\" alt=\"RISK-REWARD 12042015\" width=\"427\" height=\"539\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">3.2.4 - PREMIUM SERVICE - OVERALL TRADE SUMMARY MONTH &amp; YTD:</span>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/PREM-SERV-PROFITS-1-12042015.png\"><img class=\"aligncenter size-full wp-image-5719\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/PREM-SERV-PROFITS-1-12042015.png\" alt=\"PREM SERV PROFITS 1 12042015\" width=\"461\" height=\"434\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/REM-SERV-PROFITS-2-12042015.png\"><img class=\"aligncenter size-full wp-image-5720\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/REM-SERV-PROFITS-2-12042015.png\" alt=\"REM SERV PROFITS 2 12042015\" width=\"465\" height=\"426\" /></a>\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 – TRADING REVIEW:</span>\r\n\r\n<span style=\"text-decoration: underline;\">4.3 - THE PREMIUM SERVICE - EXISTING LIVE TRADES:</span>\r\n\r\n<span style=\"text-decoration: underline;\">4.4 - THE PREMIUM SERVICE – EXISTING LIMIT ORDERS:</span>\r\n\r\n<span style=\"text-decoration: underline;\">4.5 - POTENTIAL TRADES - WHAT CHARTS AM I LOOKING AT?</span>\r\n\r\n<span style=\"text-decoration: underline;\">4.6 - MAJOR TRADING PAIRS WITH LONGER-TERM TRENDS MATCHING:</span>\r\n\r\n<span style=\"text-decoration: underline;\">4.7 - 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 CONCLUSION - MY FINAL THOUGHTS:</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...one less thing to worry about!\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">5.2 –TRADING TIPS &amp; THOUGHTS FOR THE WEEK AHEAD:</span>\r\n\r\nWe have a lot of geopolitical news hanging around and whilst this will not directly feature minute by minute this week, as traders we must not forget to be conscious of these events.\r\n\r\nWe will be constantly reminded about OIL, but maybe not so much about the middle-east tensions that can swing a market one way and then the other very quickly.\r\n\r\nGREECE will hold the attention of the EUROZONE, this story is by no means over yet, in fact, it has only just really started. I am tired of hearing that GREECE is so small it doesn’t matter, this is complete bulls**t, the financial ramifications of a GREXIT or DEFAULT will be far reaching. Just remember what happened with Dubai and Cyprus, both tiny places but as they were financial centres they caused problems. I am not saying that GREECE is a financial centre, but it is a EUROZONE union member with a lot of its finances integrated into other EUROZONE countries and the ECB. Of course it will have an effect.\r\n\r\nI am not 100% clear how the EUR/USD will react to any news regarding GREECE. The market is weird at times and knee-jerk reactions are very much the order of the trading day nowadays.\r\n\r\nGeopolitical news is often very black and white but we seem of late to be moving in shades of grey…be thankful I did not refer to the number of shades!!\r\n\r\nWe will have opportunities to make $$$, we just have to be alert and careful.\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\nSunday April 12th 2015\r\n\r\nEMAIL / FOLLOW ME AT:\r\ndrivethru@weeklyfxdrivethru.com\r\nTwitter: @pipaccumulator\r\nGoogle+/scottpickering\r\nTumblr: thepipaccumulator\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. Unlike many of my competitors, I use the products and services provided by these companies. I will NOT allow any third party on my website unless I am 100% happy that they can back up their promise. By virtue of the fact, I work with these companies almost daily. I am more than confident to have them advertise on my website. Any reader who buys products or services from any advertiser via a banner on my website, <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a> will automatically have my help and assistance with any issues that they may have with my partnered advertisers.\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 do.','WHERE NEXT FOR THE DXY?','','inherit','open','closed','','5753-revision-v1','','','2015-04-11 12:15:12','2015-04-11 17:15:12','',5753,'https://weeklyfxdrivethru.com/5753-revision-v1/',0,'revision','',0),(5762,1,'2015-04-11 12:23:02','2015-04-11 17:23:02','<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</h2>\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/RISK-REWARD-12042015.png\"><img class=\"aligncenter size-full wp-image-5717\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/RISK-REWARD-12042015.png\" alt=\"RISK-REWARD 12042015\" width=\"427\" height=\"539\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n</div>\r\n<div class=\"one-half\">\r\n<h2>PREVIOUS YEARS</h2>\r\n<h2>\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','','','2015-04-11 12:23:02','2015-04-11 17:23:02','',5006,'https://weeklyfxdrivethru.com/5006-revision-v1/',0,'revision','',0),(5769,1,'2015-04-12 06:25:31','2015-04-12 11:25:31','<p style=\"text-align: center;\"><strong>THE PREMIUM SERVICE\r\n</strong><strong>The Home of Single-Lot Trading\r\n</strong><strong>from\r\n</strong><strong>THE WEEKLY FX DRIVE THRU\r\n</strong><strong style=\"line-height: 1.5;\">www.weeklyfxdrivethru.com</strong></p>\r\n<strong>DATE: 12.04.2015\r\nREFERENCE: #148\r\n</strong><strong>BLOG: THE WEEKLY FX DRIVE THRU</strong>\r\n\r\n&nbsp;\r\n<ol>\r\n	<li><strong> INTRODUCTION - MY OVERVIEW OF THE FOREX MARKET:</strong></li>\r\n</ol>\r\n<span style=\"text-decoration: underline;\">LOOKING BACKWARDS, FORWARDS &amp; SIDEWAYS (FOR GOOD MEASURE) AT THE FX MARKET:</span>\r\n\r\n<span style=\"text-decoration: underline;\">1.1 - LOOKING BACKWARDS:</span>\r\n\r\n<span style=\"text-decoration: underline;\">RBA – RATE STATEMENT:</span>\r\n\r\nSurprise decision or not the RBA left interest rates unchanged last week. These buggers at the RBA are really reaping havoc on my shorter to medium term views of my TRADING PLAN. This is creating additional trading stress that I do not want or like to have.\r\n\r\nMy longer-term view is that the AUD/USD is going sub 0.7000. There are times when the market has me so frustrated that I feel like just opening an additional broker account to set-up a number of entries, place them LIVE, and then, take a look once a month at where I stand, and, add to positions and move stops on a monthly basis. These would be true FUNDAMENTAL longer-term trades, an account free from the noise and chop fest that we appear to be suffering all the time now. There’s a thought, and maybe something I should have done at the beginning of 2015.\r\n\r\nI digress, market makers had to reset their short to medium term outlook on the AUD overall and it was only through relentless USD buying on Thursday through Friday last week that AUD/USD started to fall again after a number of up days following the Rate announcement. In my opinion the jury is out on the short-term moves with the AUD, however, having just said that, bigger moves will take place from which the AUD will just follow like a good little puppy.\r\n\r\n<span style=\"text-decoration: underline;\">FOMC MEETING MINUTES:</span>\r\n\r\nCan someone please tell me why minutes that emanated from a Rate Statement, Financial Projections and a 90- minute Press Conference by the FED chair Janet Yellen, that were seen clearly as DOVISH, turn out a couple of weeks later to read as HAWKISH?\r\n\r\nThis is why a lot of new traders get switched off from the Forex Market. It is what it is, a fecked up collection of market makers, with the attention span and memory of a gnat. These people couldn’t organize a piss-up in a brewery. At times this is just total bollo**s.\r\n\r\nI tweeted PREMIUM SERVICE subscribers not to get suckered one way or the other and to expect a collection of knee-jerk reactions to the release of the minutes, and, basically that was what happened after the USD bulls finally got their way.\r\n\r\nThe crazy thing from my perspective is FED policy is NOT something that changes like the direction of the wind. It is similar to Moses returning from the mountain with the 10 commandments in tablets of stone. They will raise rates…. period. They have to because of credibility. If they feck up and have to reduce again so be it. All this fuss about timing is now so drawn out with speculation and it has created so much uncertainty it is now just boring to watch CNBC / BLOOMBERG anymore.\r\n\r\nIn any event a rate hike is coming. It could still come in June. DO NOT rule out anything if we get two months of good data the FED may say “feck it, what the hell lets do it now and if we have to chop it back to boost the fall / Christmas market so be it”.\r\n\r\n<span style=\"text-decoration: underline;\">GEOPOLITICAL EVENTS:</span>\r\n<ol>\r\n	<li><span style=\"text-decoration: underline;\"> GREECE:</span></li>\r\n</ol>\r\nSo the Tsipras regime paid the IMF. I did not see that coming, but, there are much bigger amounts due in the next 30 days as I wrote about last week, so this story is far from over.\r\n<ol start=\"2\">\r\n	<li><span style=\"text-decoration: underline;\"> OIL – YEMEN – IRAN:</span></li>\r\n</ol>\r\nThis is just getting messier by the day. I cannot see an end game here in the short-term.\r\n<ol start=\"3\">\r\n	<li><span style=\"text-decoration: underline;\"> OVERVIEW:</span></li>\r\n</ol>\r\nBeing a FUNDAMENTAL trader first then technical, the tensions around the EUROZONE and MIDDLE-EAST are playing havoc with my longer-term thoughts. I am finding it very hard to be anything other than a 30-minute trader at present. There is so much that could just implode and screw up day-swing trade potential set-ups, I am starting to view pullbacks as potential reversal patterns.\r\n\r\nI am receiving lots of comments from subscribers about basically a “GBAB ‘N GO” approach to Forex trading. Whilst I am not, or do not consider myself this type of trader, I certainly wasn’t in 2014…am I getting this way in 2015?\r\n\r\nBeing totally honest the number of scalping 15-25 pip trades have increased dramatically year over year.\r\n\r\nNo matter what, the geopolitical events around the world have to be taken into consideration if you are seriously looking to trade beyond a day trade.\r\n\r\n<span style=\"text-decoration: underline;\">1.2 - LOOKING FORWARDS:</span>\r\n\r\n<span style=\"text-decoration: underline;\">MAJOR FOREX NEWS THIS WEEK THAT INTERESTS ME:\r\n</span><span style=\"text-decoration: underline;\">(There are many more news items related to the Forex Market than the ones listed below. These are the ones that interest me. You can go to </span><a href=\"http://www.forexfasctory.com\">www.forexfasctory.com</a><span style=\"text-decoration: underline;\"> and </span><a href=\"http://www.tradingeconomics.com\">www.tradingeconomics.com</a><span style=\"text-decoration: underline;\"> for more comprehensive lists of all news events that are Forex related).</span>\r\n\r\nSUNDAY: N/A.\r\n\r\nMONDAY: N/A.\r\n\r\nTUESDAY: GBP – CPi.\r\nTUESDAY: USD – Core Retail Sales, PPi &amp; Retail Sales Data..\r\nTUESDAY: CNY – GDP.\r\n\r\nWEDNESDAY: EUR – ECB Press Conference.\r\nWEDNESDAY: CAD – BOC Rate Statement and Press Conference.\r\nWEDNESDAY: NZD – Dairy Auction Prices.\r\nWEDNESDAY: AUD – Employment Data\r\n\r\nTHURSDAY: N/A.\r\n\r\nFRIDAY: CAD – CPi and Core CPi Data.\r\nFRIDAY: USD – CPi and Core CPi Data.\r\n\r\n<span style=\"text-decoration: underline;\">MY THOUGHTS:</span>\r\n\r\nIt is a big week for news. There is a nice spread of items that have my attention.\r\n\r\nHaving had withdrawal symptoms from the ECB shifting away from monthly Press Conferences it will be great to see “old shifty” back in the hot seat. I will be looking forward to his comments related to GREECE. It should be pretty comfortable with the EUR/USD exchange rate how it sits at the moment, so maybe a low-key event is on the horizon…yeah right!\r\n\r\nThe Retail Sales and CPi data from the U.S. and Canada will be eagerly awaited, as this will direct central bank policy.\r\n\r\nAussie employment should be interesting with the mix between full and part-time ratios and the dairy prices usually have an impact on the Kiwi.\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">CHINA and HONG KONG BROKERAGES:</span>\r\n\r\nThis made the headlines recently but I omitted to mention this in my blog. It will be rectified now.\r\n\r\nRegulations between access to the HONK KONG market and CHINA have changed about being able to trade these markets based on location. Also the numbers of new broker accounts being opened in China is staggering. Over one million new accounts each week. I could not obtain confirmation on the number of FX versus EQUITIES accounts but would say the overwhelming number would be equity accounts.\r\n\r\nThis will be behind the rallies in Shanghai and Hong Kong, because all retail buyers do is buy. We have a new Chinese army of stock buyers without knowledge, training or experience on a buying spree of stocks. Freaky and scary… bear this in mind.\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">1.3 - LOOKING SIDEWAYS (FOR GOOD MEASURE):\r\n</span>\r\n\r\n<span style=\"text-decoration: underline;\">FOREX MARKET CONDITIONS:</span>\r\n\r\nSubscribers to the PREMIUM SERVICE will know that about 1.00-2.00AM (EDT) on Friday morning last week I aggressively placed protective stops across the LIVE trades at that time basically covering all trades. Looking at the Forex market at that time I noted the following: -\r\n<ul>\r\n	<li>GOLD – strong</li>\r\n	<li>USD (DXY) – strong</li>\r\n	<li>S&amp;P Futures – up</li>\r\n	<li>JPY – strong</li>\r\n	<li>European futures – very strong</li>\r\n	<li>U.S. 10-year bonds - strong</li>\r\n</ul>\r\nIn my opinion at that time something had to give, as it just did not read right. I was simply not prepared to go back to sleep and have a potential European squeeze take place and have me awaken to negative positions across the board on a Friday that would potentially be extremely difficult to exit. I would have either had to have taken losses or sit through the weekend, with the backdrop of geopolitical events hanging over me. No thanks. I banked $$$ and had a good night’s sleep.\r\n\r\nMy purpose for writing this is that as traders, we are all faced with these dilemmas; some traders will just blow their accounts, refill them and start again. Been there, done that,got the T-shirt, made the video…never again.\r\n\r\nIt is never a bad thing to bank $$$. To try and be a clever fecker sitting in trades with the risk of giving $$$ back to your broker does not make sense to me, in particular with today’s markets.\r\n\r\nAs most of you know, I took a big hit on the GBP/CHF on the SNB Peg removal day. I am now never, to the very best of my abilities giving too much back to the brokers again…ever.\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">FOREX LIQUIDITY:</span>\r\n\r\nI read in the Financial Times last week that the Forex Market, which is now a USD$5.3 trillion a day on average marketplace, has a problem (Over the past few weeks I have been moaning about too many squeezes and weird market trading conditions).\r\n\r\nIt appears the mechanics of the market have been drawn into question. Is there a decline, or cyclical decline in Forex trading? I would say that it was noted recently that some of the banks who traded Forex were cutting back after taking some heavy losses.\r\n\r\nWithout doubt greater regulation in the banking industry is weeding out the “under the counter cheating” that took place and is becoming very quickly a trait of the past. I know for a fact that thousands of retail traders left after the SNB. Over leveraged accounts were wiped out.\r\n\r\nWithout doubt we see much larger volatile moves and if you are caught the wrong way it can be very painful.\r\n\r\nTo cover this volatility many of the banks have widened the spreads offered to their supporting brokers. This has resulted in many retail traders closing their accounts and no longer trading FOREX. Without doubt if banks lose money they will protect themselves and they will have a lower risk appetite. I think I wrote that in February this year daily volumes compared with January were lower by 16%. This is a significant number.\r\n\r\nAs if we do not have enough to consider, we now have a permanent liquidity fear if one of the major FX banks is absent from the market for a few moments…. just brilliant… just great.\r\n\r\nForex trading is an evolving market and is going through changes. All we can do is get the head down, look for high probability trades, set the best stops we can based on our RISK TOLERANCES and trade.\r\n\r\nLike so many of you, I still find trading conditions quite difficult. I seem to be moving forwards and then backwards to move forwards again. It is very, very frustrating.\r\n\r\nThe PREMIUM SERVICE still moves forward in these sticky / changing conditions, so I am obviously delighted. It is much harder than last year but we still move forwards despite all that is thrown in our direction.\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>WHERE NEXT FOR THE DXY?\r\n</strong>(DXY the USD Index closed last Friday at 99.33)</p>\r\nWhat a difference interpretation makes on basically the same information.\r\n\r\nAt the March FOMC meeting, and with a subsequent statement, supporting charts and graphs plus FED Chair Yellen’s 90-minute press conference, the market viewed all things USD as DOVISH.\r\n\r\nA few weeks later the minutes of the two-day FOMC meeting are released and they are viewed as HAWKISH.\r\n\r\nWhat has changed?\r\n\r\nBugger all as far as I can see. The FED monetary policy has been pretty consistent, I know we are not helped with the fact that many local state FED governors keep mouthing off their own opinions to confuse the crap out of Wall Street and the Chicago pits. Guess what…? They are just brilliant at doing that. It may not be in a FED governor’s job specification to confuse the crap out of the market but they know they do it and they persist. It’s just a game, and a game with very high stakes all the same.\r\n\r\nThe markets appear to not be able to read what is actually written and place that in the brain for future reference.\r\n\r\nPart of this game is that Wall Street expects Janet Yellen to say on June 21<sup>st</sup> at 10.00AM interest rates will be increased by 0.25%. This is just the same as CNN trying to gain knowledge of U.S. troop tactics in a war zone, air them on TV and then wonder why so many U.S. soldiers die in combat, then they blame the government.\r\n\r\nAll we have right now as far as I can see is speculation over the date / timing of the FED rate hike. I believe the market now accepts what the FOMC have been stating for a few meetings now that there will be a rate hike in 2015. At least that is a step forward. So it’s just a case of, is it before the summer in June or after the summer in September.\r\n\r\nCNBC and BLOOMBERG are now in overdrive about a strong USD and the date of the rate hike.\r\n\r\nBetween now and the eventual rate hike what about the USD (DXY), where will it go?\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/USD-DXY-12042015.png\"><img class=\"aligncenter size-large wp-image-5716\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/USD-DXY-12042015-1024x448.png\" alt=\"USD (DXY) 12042015\" width=\"1024\" height=\"448\" /></a>\r\n\r\n&nbsp;\r\n\r\nFrom the chart above you can see that I am merely looking at the recent pattern of bull flag formations and continuing them forwards. The last measured move targets between 102.00 and 103.00. It will be very, very ambitious if we get to these levels but never rule anything out.\r\n\r\nFrom a Forex Trading perspective where for example does a DXY reading of 102.00 bring us in relation to the USD majors?\r\n\r\nThis is not an exact science but a move of about 220 in the DXY could have the following effect assuming all pairs tow the line…\r\n<ul>\r\n	<li>EUR/USD      1.0200 – 1.0300</li>\r\n	<li>GBP/USD      1.4100 – 1.4200</li>\r\n	<li>AUD/USD      0.7000 – 0.7100</li>\r\n	<li>NZD/USD      0.6800 – 0.7000</li>\r\n	<li>USD/CAD      1.3000 – 1.3200</li>\r\n	<li>USD/CHF      1.0200 – 1.0300</li>\r\n</ul>\r\nThese are big moves, but they are potentially what could happen if the DXY breaks higher to 102.00. Beyond 102.00 to 103.00 we would see the EUR/USD at parity or below.\r\n\r\nMaybe some of the recent calls on sub-parity for the EUR/USD are not so far off the mark?\r\n\r\nTime will tell. The other side of this article though is what happens once we reach 102.00 or 103.00? Do we consolidate or fall back to re-test 100.00? That is another article.\r\n\r\nJust bear in mind what could happen should the DXY break out above 100.00 in style!!\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 and SUBSCRIPTION PRICING:</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<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/PS-SUBSCRIPTION-COSTS-05042015.png\"><img class=\"aligncenter size-full wp-image-5668\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/PS-SUBSCRIPTION-COSTS-05042015.png\" alt=\"PS SUBSCRIPTION COSTS 05042015\" width=\"380\" height=\"473\" /></a>\r\n\r\n<span style=\"text-decoration: underline;\">3.2 - SUMMARY OF PERFORMANCE:</span>\r\n\r\n(Only the excel spreadsheets will now be shown in this section. References to previous, present and future trades “LAST WEEK’s TRADING REVIEW” will now be provided solely for the benefit of PREMIUM SERVICE subscribers and has been moved into section 4).\r\n\r\n<span style=\"text-decoration: underline;\">3.2.1 – PREMIUM SERVICE – COST INCOME ANALYSIS:</span>\r\n\r\n&nbsp;\r\n<p style=\"text-align: center;\">EMANATING FROM TRADE SET-UPS - 2015 to date:</p>\r\n<p style=\"text-align: center;\"><span style=\"text-decoration: underline;\">MICRO LOT TRADER</span> - 226 trades cost to trade = $22.60\r\n<strong>PROFIT</strong> from 226 trades = $324.90</p>\r\n<p style=\"text-align: center;\"><span style=\"text-decoration: underline;\">MINI LOT TRADER</span> - 226 trades cost to trade = $226.00\r\n<strong>PROFIT</strong> from 226 trades = $3,249.00</p>\r\n<p style=\"text-align: center;\"><span style=\"text-decoration: underline;\">STANDARD LOT TRADER</span> - 226 trades cost to trade = $2,226.00\r\n<strong>PROFIT</strong> from 226 trades = $32,490.00</p>\r\n&nbsp;\r\n<p style=\"text-align: center;\"><strong><span style=\"color: #0000ff;\"><span style=\"text-decoration: underline;\">PLEASE NOTE:</span></span></strong></p>\r\n<p style=\"text-align: center;\"><strong><span style=\"color: #0000ff;\">If this sort of risk/reward income opportunity interests you:</span></strong>\r\n<strong><span style=\"color: #0000ff;\">To join the PREMIUM SERVICE at the introductory level subscribe to the initial</span></strong>\r\n<strong><span style=\"color: #0000ff;\">4 week subscription and receive a 5<sup>th</sup> week FREE!!</span></strong>\r\n<strong><span style=\"color: #0000ff;\">See the PROMOTIONS tab on my landing page at</span></strong>\r\n<strong><span style=\"color: #0000ff;\">www.weeklyfxdrivrethru.com</span></strong></p>\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">3.2.2 - PREMIUM SERVICE - PROFIT/LOSS RATIOS:</span>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/PROFIT-LOSS-RATIO-12042015.png\"><img class=\"aligncenter size-full wp-image-5718\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/PROFIT-LOSS-RATIO-12042015.png\" alt=\"PROFIT-LOSS RATIO 12042015\" width=\"410\" height=\"581\" /></a>\r\n\r\n<span style=\"text-decoration: underline;\">3.2.3 - PREMIUM SERVICE - RISK/REWARD ANALYSIS:</span>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/RISK-REWARD-12042015.png\"><img class=\"aligncenter size-full wp-image-5717\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/RISK-REWARD-12042015.png\" alt=\"RISK-REWARD 12042015\" width=\"427\" height=\"539\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">3.2.4 - PREMIUM SERVICE - OVERALL TRADE SUMMARY MONTH &amp; YTD:</span>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/PREM-SERV-PROFITS-1-12042015.png\"><img class=\"aligncenter size-full wp-image-5719\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/PREM-SERV-PROFITS-1-12042015.png\" alt=\"PREM SERV PROFITS 1 12042015\" width=\"461\" height=\"434\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/REM-SERV-PROFITS-2-12042015.png\"><img class=\"aligncenter size-full wp-image-5720\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/REM-SERV-PROFITS-2-12042015.png\" alt=\"REM SERV PROFITS 2 12042015\" width=\"465\" height=\"426\" /></a>\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 – TRADING REVIEW:</span>\r\n\r\n<span style=\"text-decoration: underline;\">4.3 - THE PREMIUM SERVICE - EXISTING LIVE TRADES:</span>\r\n\r\n<span style=\"text-decoration: underline;\">4.4 - THE PREMIUM SERVICE – EXISTING LIMIT ORDERS:</span>\r\n\r\n<span style=\"text-decoration: underline;\">4.5 - POTENTIAL TRADES - WHAT CHARTS AM I LOOKING AT?</span>\r\n\r\n<span style=\"text-decoration: underline;\">4.6 - MAJOR TRADING PAIRS WITH LONGER-TERM TRENDS MATCHING:</span>\r\n\r\n<span style=\"text-decoration: underline;\">4.7 - 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 CONCLUSION - MY FINAL THOUGHTS:</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...one less thing to worry about!\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">5.2 –TRADING TIPS &amp; THOUGHTS FOR THE WEEK AHEAD:</span>\r\n\r\nWe have a lot of geopolitical news hanging around and whilst this will not directly feature minute by minute this week, as traders we must not forget to be conscious of these events.\r\n\r\nWe will be constantly reminded about OIL, but maybe not so much about the middle-east tensions that can swing a market one way and then the other very quickly.\r\n\r\nGREECE will hold the attention of the EUROZONE, this story is by no means over yet, in fact, it has only just really started. I am tired of hearing that GREECE is so small it doesn’t matter, this is complete bulls**t, the financial ramifications of a GREXIT or DEFAULT will be far reaching. Just remember what happened with Dubai and Cyprus, both tiny places but as they were financial centres they caused problems. I am not saying that GREECE is a financial centre, but it is a EUROZONE union member with a lot of its finances integrated into other EUROZONE countries and the ECB. Of course it will have an effect.\r\n\r\nI am not 100% clear how the EUR/USD will react to any news regarding GREECE. The market is weird at times and knee-jerk reactions are very much the order of the trading day nowadays.\r\n\r\nGeopolitical news is often very black and white but we seem of late to be moving in shades of grey…be thankful I did not refer to the number of shades!!\r\n\r\nWe will have opportunities to make $$$, we just have to be alert and careful.\r\n\r\nAs always, there will be trades to trade and there will be some great opportunities, please trade in line with your RISK MANAGEMENT parameters from your TRADING PLAN. If you do not have a TRADE PLAN, in my opinion, you should, as this will help you with consistency.\r\n<p style=\"text-align: center;\"><strong>Consistency = longevity in trading and that is a critical goal.\r\nIT IS THE KEY MEASUREMENT</strong></p>\r\nBefore you enter a trade work out the risk, price it in $$$. 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\nSunday April 12th 2015\r\n\r\nEMAIL / FOLLOW ME AT:\r\ndrivethru@weeklyfxdrivethru.com\r\nTwitter: @pipaccumulator\r\nGoogle+/scottpickering\r\nTumblr: thepipaccumulator\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. Unlike many of my competitors, I use the products and services provided by these companies. I will NOT allow any third party on my website unless I am 100% happy that they can back up their promise. By virtue of the fact, I work with these companies almost daily. I am more than confident to have them advertise on my website. Any reader who buys products or services from any advertiser via a banner on my website, <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a> will automatically have my help and assistance with any issues that they may have with my partnered advertisers.\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 do.','WHERE NEXT FOR THE DXY?','','inherit','open','closed','','5753-revision-v1','','','2015-04-12 06:25:31','2015-04-12 11:25:31','',5753,'https://weeklyfxdrivethru.com/5753-revision-v1/',0,'revision','',0),(5796,1,'2015-04-18 12:49:47','2015-04-18 17:49:47','','HOW MUCH TRADING CAPITAL DO YOU NEED FOR FOREX TRADING','','inherit','open','closed','','how-much-trading-capital-do-you-need-for-forex-trading','','','2015-04-19 06:14:18','2015-04-19 11:14:18','',2538,'https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/HOW-MUCH-TRADING-CAPITAL-DO-YOU-NEED-FOR-FOREX-TRADING.pdf',0,'attachment','application/pdf',0);
INSERT INTO `vp_backup_wp_posts` VALUES (5797,1,'2015-04-19 06:16:40','2015-04-19 11:16:40','<p style=\"text-align: center;\"><strong>THE PREMIUM SERVICE\r\n</strong><strong>The Home of Single-Lot Trading\r\n</strong><strong style=\"line-height: 1.5;\">www.weeklyfxdrivethru.com</strong></p>\r\n<strong>DATE: 19.04.2015\r\nREFERENCE: #56\r\n</strong><strong>BLOG: THE PREMIUM SERVICE</strong>\r\n\r\n&nbsp;\r\n<ol>\r\n	<li><strong> INTRODUCTION - MY OVERVIEW OF THE FOREX MARKET:</strong></li>\r\n</ol>\r\n<span style=\"text-decoration: underline;\">LOOKING BACKWARDS, FORWARDS &amp; SIDEWAYS (FOR GOOD MEASURE) AT THE FX MARKET:</span>\r\n\r\n<span style=\"text-decoration: underline;\">1.1 - LOOKING BACKWARDS:</span>\r\n\r\nThere were three news events last week that I want to mention.\r\n\r\n<span style=\"text-decoration: underline;\">ECB – RATE STATEMENT:</span>\r\n\r\nIn my opinion one of the most boring ECB Press Conferences in history, well, at lease since I started trading. The real excitement was the female protestor jumping onto the front desk covering Draghi in confetti.\r\n\r\nIn recent weeks EUROZONE data has been improving so Draghi had an easy ride for a change. He was bullish on the following points: -\r\n<ul>\r\n	<li>The cyclical recovery in the euro area has strengthened.</li>\r\n	<li>The Asset Purchase program has been successful.</li>\r\n	<li>The program is flexible and will run until September 2016, or until there is a sustained increase in inflation.</li>\r\n	<li>The ECB has no difficulties in finding bonds to purchase.</li>\r\n	<li>Any concerns about bond scarcity are “premature”.</li>\r\n	<li>ECB exposure to GREECE is €110 billion (largest to any EUROZONE member).</li>\r\n</ul>\r\nFrom a trading perspective, I took nothing new from this statement at all. My FUNDAMENTAL views relating to the EUROZONE have not altered.\r\n\r\n<span style=\"text-decoration: underline;\">BOC MEETING MINUTES:</span>\r\n\r\nBy comparison to the ECB meeting, Stephen Poloz, BOC Governor was quite HAWKISH in his comments. This sent the USD/CAD into a tailspin lower taking out support after support level. The fact that WTi was rallying at the same time further exacerbated the strength of the CAD and the entire cross rates fell as well.\r\n\r\nThe crosses have made modest recoveries since last Wednesday and look very oversold, but as the CAD currency appears to be treated like the MXN and NOK as a proxy for the OIL price, it is moves in Oil that seem to dictate the direction of the USD/CAD.\r\n\r\nMoving forward, I think we treat the CAD as we have for the past few weeks. OIL up the CAD strengthens…OIL down the CAD weakens…\r\n\r\nThe entire CAD related pairs look great buys at these low levels. Check out the charts later (section 4.5), I am thinking of a couple of smaller position sized lower risk trades.\r\n\r\nThe one aspect about the Forex market is that there are always opportunities, but the risks have to be managed.\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">CHINA GDP:</span>\r\n\r\nChina GDP printed at 7%.\r\n\r\nA few years ago if this number were printed there would have been an almighty reaction and comments about the end of the world would have featured in the press. I was a little surprised that we did not get much of a follow through with the AUD and NZD currencies after this data release.\r\n\r\nIt is so strange now; news is reacted to and then just forgotten so quickly.\r\n\r\nIt has been such a long time since I have written we are either in a RISK OFF or RISK ON environment. The currency wars have really stopped all this. The “rock star” central bank presidents and governors have taken so much joy out of trading.\r\n\r\nThe CHINA data represents weakening in the “sweat room” of the world, and, people such as Mark Faber (Doom, Gloom and Boom report), actually believe the true China GDP figure is closer to 5%; who knows?\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">GEOPOLITICAL EVENTS:</span>\r\n<ol>\r\n	<li><span style=\"text-decoration: underline;\"> GREECE:</span></li>\r\n</ol>\r\nThe GREECE situation is just not going to go away.\r\n\r\nIn my opinion, the negative comments about the Greek negotiations made by Wolfgang Schaeuble, the German Finance minister, acted only to fan the flames and frankly I believe the whole subject would be better served if he kept his “GOB” firmly closed. He may be Merkel’s mouthpiece, pit bull or assassin of hope, however, his comments and negativity are just draining on the whole subject. Frankly, he has reached the point when I no longer look to his comments for inspiration; it is now more of a case of what has that silly old bastard said now!!\r\n\r\nI am writing about GREECE later and will revisit this again; I will NOT be able to stop my self for any repetition. I apologise in advance.\r\n<ol start=\"2\">\r\n	<li><span style=\"text-decoration: underline;\"> OIL – YEMEN – IRAN:</span></li>\r\n</ol>\r\nNo change it is now becoming a real humanitarian issue. It is a case of over there rather than over here and OIL is getting through, so no-one real has it high on their agendas.\r\n\r\nThis is just getting messier by the day. I cannot see an end game here in the short-term.\r\n\r\nThe IRAN nuclear issue has gone quiet again over the matter of trust. Nothing new with this one, no one trusts anyone. What a great world we live in.\r\n\r\nFrom a trading perspective, OIL supplies are not threatened\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">1.2 - LOOKING FORWARDS:</span>\r\n\r\n<span style=\"text-decoration: underline;\">MAJOR FOREX NEWS THIS WEEK THAT INTERESTS ME:\r\n</span>(There are many more news items related to the Forex Market than the ones listed below. These are the ones that interest me. You can go to <a href=\"http://www.forexfasctory.com\">www.forexfactory.com</a> and <a href=\"http://www.tradingeconomics.com\">www.tradingeconomics.com</a> for more comprehensive lists of all news events that are Forex related).\r\n\r\nSUNDAY: NZD - CPi.\r\nSUNDAY: CNY – HSBC Flash Manufacturing PMI\r\n\r\nMONDAY: EUR – German &amp; French Manufacturing PMi.\r\nMONDAY: AUD – Monetary Policy Meeting Minutes.\r\n\r\nTUESDAY: EUR – German ZEW Economic Sentiment.\r\nTUESDAY: AUD - CPi.\r\n\r\nWEDNESDAY: N/A.\r\n\r\nTHURSDAY: N/A.\r\n\r\nFRIDAY: N/A.\r\n\r\n<span style=\"text-decoration: underline;\">MY THOUGHTS:</span>\r\n\r\nFrom my interest viewpoint, it looks like a very light week on economic data.\r\n\r\nI have a feeling however, that we will have a busy week with GREECE. So this will not be a time to do spring gardening, decorating etc.…\r\n\r\nI may be able to move my trading to the terrace if the weather holds up but I am expecting some twists and turns and no doubt some irrational squeezes in the coming week just to piss me off!!\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">CHINA:</span>\r\n\r\nBe prepared for the possibility of strong sell-offs in equities in the coming week. It appears that the authorities in China are about to actively support “short-selling” of equities in a big way\r\n\r\nI wrote last week that over a million new trading accounts per month were being added to China brokerages and basically, all this means is that the new “players” buy, buy and buy some more.\r\n\r\nIt does appear that the bubble conscious authorities in China have suddenly realized the monster that has been created and now they are going to act by supporting “short-selling”.\r\n\r\nBear this in mind because no matter how much of a heads up we have this will affect currencies.\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">1.3 - LOOKING SIDEWAYS (FOR GOOD MEASURE):\r\n</span>\r\n\r\n<span style=\"text-decoration: underline;\">FOREX MARKET CONDITIONS:</span>\r\n\r\nDare I say it, but we had a 48-hour period of reasonable normality in the markets. Correlations came into sync and we were able to trade with relative confidence given that we had a backdrop of geopolitical tensions dotted here and there.\r\n\r\nOne factor that is resonating more and more with me is “King USD”. It is still the flight to safety when all things matter.\r\n\r\nHow the market treats the USD, pretty much dominates all things Forex. Let me elaborate a little.\r\n\r\nThe China GDP print at 7% was a devastating number in particular for the AUD and NZD, as expected they weakened across the board. However, within 36 hours the AUD/USD and NZD/USD were breaking new trend highs on the back of USD weakness.\r\n\r\nAs a FUNDAMENTAL trader first, then TECHNICAL, this is extremely difficult for me to initially deal with and my first reaction is caution in the sense of do not believe the move. The markets are what they are and there is very little logic at times, I suppose this is what makes the Forex market so interesting, but at the same time annoying to trade.\r\n\r\nIn 2014, I found myself trading less and being in trades longer. This year the markets are so “skittish” I am trading more for less income per trade.\r\n\r\nI know that I am not alone in this and I am also advised from PREMIUM SERVICE subscribers, that as a result in 2015, trading conditions compared to 2014 showed that the swings in account balances have been greater than ever. Two or three good days are then followed by a bad day. This is something that I am trying my best to eradicate but unfortunately it very difficult.\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">FOREX LIQUIDITY:\r\n</span>(This short segment was in last week’s blog. It is so relevant to matters now I have left it in this week as well so that new readers can capture the content)\r\n\r\nI read in the Financial Times last week that the Forex Market, which is now a USD$5.3 trillion a day on average marketplace, has a problem (Over the past few weeks I have been moaning about too many squeezes and weird market trading conditions).\r\n\r\nIt appears the mechanics of the market have been drawn into question. Is there a decline, or cyclical decline in Forex trading? I would say that it was noted recently that some of the banks who traded Forex were cutting back after taking some heavy losses.\r\n\r\nWithout doubt greater regulation in the banking industry is weeding out the “under the counter cheating” that took place and is becoming very quickly a trait of the past. I know for a fact that thousands of retail traders left after the SNB. Over leveraged accounts were wiped out.\r\n\r\nWithout doubt we see much larger volatile moves and if you are caught the wrong way it can be very painful.\r\n\r\nTo cover this volatility many of the banks have widened the spreads offered to their supporting brokers. This has resulted in many retail traders closing their accounts and no longer trading FOREX. Without doubt if banks lose money they will protect themselves and they will have a lower risk appetite. I think I wrote that in February this year daily volumes compared with January were lower by 16%. This is a significant number.\r\n\r\nAs if we do not have enough to consider, we now have a permanent liquidity fear if one of the major FX banks is absent from the market for a few moments…. just brilliant… just great.\r\n\r\nForex trading is an evolving market and is going through changes. All we can do is get the head down, look for high probability trades, set the best stops we can based on our RISK TOLERANCES and trade.\r\n\r\nLike so many of you, I still find trading conditions quite difficult. I seem to be moving forwards and then backwards to move forwards again. It is very, very frustrating.\r\n\r\nThe PREMIUM SERVICE still moves forward in these sticky / changing conditions, so I am obviously delighted. It is much harder than last year but we still move forwards despite all that is thrown in our direction.\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<strong>GREECE – </strong><strong>JUST WAITING FOR THE FAT LADY TO SING!</strong>\r\n\r\nOf late there has been so much written, and so much speculation in the media on this topic. Frankly when I wrote my article in the blog dated April 5<sup>th</sup> “Does Merkel Have The Balls To Risk A Contagion”, deep down I thought that when push comes to a shove that Germany would back down.\r\n\r\nRecent comments from Merkel’s “Pit-bull”, Wolfgang Schaeuble (German Finance Minister), would indicate that the Germans are prepared for a GREXIT. Without doubt on May 1<sup>st</sup> and May 12<sup>th</sup> the Greek government has payments due to the IMF totaling €200 million and €763 million respectively and I just cannot see these payments being made given the current set of circumstances.\r\n\r\nWe therefore, will have a default on our hands.\r\n\r\nWhat does this mean for GREECE and the EUROZONE?\r\n\r\nFor GREECE, it would be devastating. Already I have read about Greek importers having credit lines removed from suppliers who originate outside of GREECE. All imports have to be paid in full prior to shipment.\r\n\r\nEarlier last week there was a leaked IMF document that showed that calculations on the Tax and Income effect from changes requested by the Trioka were incorrectly calculated. The relationship between changes in direct and indirect tax when added to a reduction in government spending and the effect that this would have on GDP were not calculated accurately. These Fiscal Multipliers that form the benchmark of a governments annual accounts were screwed and no matter what GREECE was able to do it would never be enough.\r\n\r\nThe alleged long-term solution was so drastic it set GREECE back instead of allowing a gradual move forward. A situation that would take effectively decades to fix was fixed at a stroke of a pen overnight…. or not as the case is.\r\n\r\nI read only a few days ago in passing that even if GREECE had a GDP rate of 10% per annum for the next 5 years they would still be no better off and could not effectively manage.\r\n\r\nWhat is the point of a bailout for a country that simply cannot pay at any price?\r\n\r\nGreek debt totals about €323 billion. Of this total about €15 billion is held by Greek banks and a further €246 billion by the ECB and other EUROZONE banks.\r\n\r\nAnyone who says that a Greek default would not really affect the EUROZONE and in fact the EUROZONE would be stronger without GREECE, needs to grab the concept of market uncertainty and contagion.\r\n\r\nFor the EUROZONE, the financial numbers will create market uncertainty and whilst they would be considered somewhat nominal, there would be a negative effect.\r\n\r\nThe bigger risk however is contagion. If a GREXIT occurs, every far right party and every anti-Europe, anti-Brussels party in the EUROZONE would be on RED alert. If GREECE can return to the Drachma we will go back to whatever….\r\n\r\nThis is the contagion risk that could break up the EUROZONE, as we know it today. It could happen. Very few people in the EUROZONE actually voted for the single-currency. There could be fireworks ahead.\r\n\r\nSo what happens next, if GREECE defaults? By the way, there is NO SUCH THING AS AN ORDERLY DEFAULT. You can be prepared but you will not know when it will happen. Here are some possible scenarios:\r\n<ol>\r\n	<li>The Athens government in Greece announces capital controls.</li>\r\n	<li>GREECE issues basically IOU’s to pay for essential services.</li>\r\n	<li>The Drachma is re-introduced and operates alongside the EUR until the EUR is totally withdrawn.</li>\r\n	<li>There is huge confusion over the potential value of the Drachma versus the EUR and people are reluctant to hold the new currency. This creates a potential run on the banks probably across parts of Europe, in particular the periphery. In GREECE capital controls basically freeze accounts and only Drachmas can be withdrawn.</li>\r\n	<li>Possible Capital Controls in other periphery countries banks as rumours of more potential exits of the EUROZONE hit the newswires and the populations around the EUROZONE see how GREECE coped, or didn’t with the transfer.</li>\r\n	<li>Emergency ECB measures on movement of monies throughout the EUROZONE.</li>\r\n	<li>Emergency ECB measures for EUROZONE state banks to hold monies overnight.</li>\r\n	<li>ECB bank guarantees bank deposits throughout the EUROZONE.</li>\r\n	<li>The EUR/USD is now sub-parity towards 0.9600.</li>\r\n	<li>Huge uncertainty in GREECE as the Greek people protest riots in Athens.</li>\r\n	<li>The blame game between Athens and the EUROGROUP reaches new levels over who didn\'t trust whom, causing political uncertainty in other EUROZONE countries. Stability is threatened.</li>\r\n	<li>We have a contagion effect.</li>\r\n</ol>\r\nIf there is an eleventh hour solution it will probably be yet another fudge by Merkel to buy time so that the EUROZONE central banks can offload a potential future Greek default situation into the ECB.\r\n\r\nPersonally, I think that the Greek government knows what they are going to do and are scheduling an emergency timetable to minimalize all the risks associated with a default.\r\n\r\nI wrote a few weeks ago about trust within the relationships in the EUROZONE, not just the trust issues that are so apparent between GREECE and GERMANY but within the other relationships that exist. The EUROZONE is the name given to the countries within the EUROPEAN UNION that adopt the single currency. However the entire area of Europe with all partners is called the EUROPEAN UNION, this encompasses members who do not use the single currency such as the UK, Sweden, Norway and Denmark. The UNION stands out…”UNION my arse”, most issues inside EUROPE are so far away from a UNION status it re-defines the word.\r\n\r\nI am amazed at the market complacency surrounding this and the EUR/USD trading above 1.0800, I just cannot fathom.\r\n\r\nI cannot see a way out other than a GREXIT and the on-going contagion games will begin. Whilst you cannot attribute blame to GREECE for this mess the EUROGROUP and TRIOKA are equally at fault with setting financial goals, objectives and measures that the Greek economy could not support in anyway shape or form\r\n\r\nNow we have the “Pit-bull” (Schaeuble) acting out a modern Pontius Pilate routine in front of the world’s media. It is a bloody disgrace how GREECE got here, but my God what a UNION!!!\r\n\r\nI await the Reuters feed soon with the news.\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 and SUBSCRIPTION PRICING:</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<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/PS-SUBSCRIPTION-COSTS-05042015.png\"><img class=\"aligncenter size-full wp-image-5668\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/PS-SUBSCRIPTION-COSTS-05042015.png\" alt=\"PS SUBSCRIPTION COSTS 05042015\" width=\"380\" height=\"473\" /></a>\r\n\r\n<span style=\"text-decoration: underline;\">COMING SOON - SILVER &amp; GOLD - PREMIUM SERVICE MEMBER STATUS:</span>\r\n\r\nRegular readers will be aware that during the past couple of months I have been upgrading speeds and revising content and deliverables within the PREMIUM SERVICE.\r\n\r\nAll of my subscribers were contacted for views about the potential changes and ideas moving forward. Many items have been addressed already, but, others require additional work “behind the scenes” to implement.\r\n\r\nOne of the suggestions was create a two-tier approach to the subscription of the PREMIUM SERVICE.\r\n\r\nBasically this is what is proposed and on the table: -\r\n\r\n<span style=\"text-decoration: underline;\">GOLD MEMBER STATUS:</span>\r\n<ul>\r\n	<li>100% access to the PREMIUM SERVICE website.</li>\r\n	<li>A dedicated exclusive twitter feed for GOLD subscribers only @ThePremService.</li>\r\n	<li>All trade set-ups communicated via Twitter and RADAR and FUNDAMENTAL trades additionally via email when possible.</li>\r\n	<li>The WEEKLY FX DRIVE THRU (access to the full and complete version) delivered weekly via an emailed PDF, and, viewable on line inside the PREMIUM SERVICE secure section of <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a></li>\r\n	<li> My thoughts and comments on market conditions via twitter.</li>\r\n</ul>\r\nSubscriptions costs remain as they are (see above) and all existing PREMIUM SERVICE subscribers are all at GOLD MEMBER status.\r\n\r\n<span style=\"text-decoration: underline;\">SILVER MEMBER STATUS:</span>\r\n<ul>\r\n	<li>A new dedicated exclusive twitter feed for SILVER subscribers only (TBA).</li>\r\n	<li>Limited access to the PREMIUM SERVICE website (trade information only).</li>\r\n	<li>The WEEKLY FX DRIVE THRU (the restricted version) delivered weekly via an emailed PDF and viewable online at <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a></li>\r\n</ul>\r\nSubscription costs for SILVER members will be advised soon. I am hoping to launch this within the next two / three weeks\r\n\r\n<span style=\"text-decoration: underline;\">3.2 - SUMMARY OF PERFORMANCE:</span>\r\n\r\n(Only the excel spreadsheets will now be shown in this section. References to previous, present and future trades “LAST WEEK’s TRADING REVIEW” will now be provided solely for the benefit of PREMIUM SERVICE subscribers and has been moved into section 4).\r\n\r\n<span style=\"text-decoration: underline;\">3.2.1 – PREMIUM SERVICE – COST INCOME ANALYSIS:\r\n</span>\r\n<p style=\"text-align: center;\"><strong>EMANATING FROM TRADE SET-UPS - 2015 to date:</strong></p>\r\n<p style=\"text-align: center;\"><span style=\"text-decoration: underline;\">MICRO LOT TRADER</span> - 258 trades cost to trade = $25.80\r\n<strong>PROFIT</strong> from 258 trades = <strong><span style=\"text-decoration: underline;\">$363.00</span></strong></p>\r\n<p style=\"text-align: center;\"><span style=\"text-decoration: underline;\">MINI LOT TRADER</span> - 258 trades cost to trade = $258.00\r\n<strong>PROFIT</strong> from 258 trades = <strong><span style=\"text-decoration: underline;\">$3,630.00</span></strong></p>\r\n<p style=\"text-align: center;\"><span style=\"text-decoration: underline;\">STANDARD LOT TRADER</span> - 258 trades cost to trade = $2,580.00\r\n<strong>PROFIT</strong> from 258 trades = <strong><span style=\"text-decoration: underline;\">$36,300.00</span></strong></p>\r\n<p style=\"text-align: center;\"><strong><span style=\"text-decoration: underline;\">PLEASE NOTE:</span></strong></p>\r\n<p style=\"text-align: center;\"><span style=\"color: #0000ff;\">If this sort of risk/reward income opportunity interests you:</span>\r\n<span style=\"color: #0000ff;\">To join the PREMIUM SERVICE at the introductory level subscribe to the initial</span>\r\n<span style=\"color: #0000ff;\">4 week subscription and receive a 5<sup>th</sup> week FREE!!</span>\r\n<span style=\"color: #0000ff;\">See the PROMOTIONS tab on my landing page at</span>\r\n<span style=\"color: #0000ff;\">www.weeklyfxdrivrethru.com</span></p>\r\n<span style=\"text-decoration: underline;\">3.2.2 - PREMIUM SERVICE - PROFIT/LOSS RATIOS:</span>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/PROFIT-LOSS-RATIO-19042015.png\"><img class=\"aligncenter size-full wp-image-5771\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/PROFIT-LOSS-RATIO-19042015.png\" alt=\"PROFIT-LOSS RATIO 19042015\" width=\"424\" height=\"586\" /></a>\r\n\r\n<span style=\"text-decoration: underline;\">3.2.3 - PREMIUM SERVICE - RISK/REWARD ANALYSIS:</span>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/RISK-REWARD-19042015.png\"><img class=\"aligncenter size-full wp-image-5772\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/RISK-REWARD-19042015.png\" alt=\"RISK-REWARD 19042015\" width=\"436\" height=\"555\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">3.2.4 - PREMIUM SERVICE - OVERALL TRADE SUMMARY MONTH &amp; YTD:</span>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/REM-SERV-PROFITS-1-19042015.png\"><img class=\"aligncenter size-full wp-image-5773\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/REM-SERV-PROFITS-1-19042015.png\" alt=\"REM SERV PROFITS 1 19042015\" width=\"461\" height=\"435\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/PREM-SERV-PROFITS-2-19042015.png\"><img class=\"aligncenter size-full wp-image-5774\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/PREM-SERV-PROFITS-2-19042015.png\" alt=\"PREM SERV PROFITS 2 19042015\" width=\"472\" height=\"421\" /></a>\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.)<strong> </strong>\r\n<p style=\"text-align: center;\"><strong>HOW MUCH TRADING CAPITAL DO YOU NEED FOR FOREX TRADING?</strong></p>\r\nIt takes money to make money.\r\n\r\nYou need <strong>Trading Capital</strong>. Everyone knows that, but how much does one need to get started in Forex trading? The answer largely depends on how you are going to approach your new start-up business.\r\n\r\n<strong>FIRST</strong>: consider how you are going to be educated. There are many different approaches to learning how to trade: classes, mentors, on your own, or any combination of the three.\r\n\r\nWhile there are many classes and mentors out there willing to teach Forex trading, most will charge a fee. The benefit of this route is that a well taught class or great mentor can significantly shorten your learning curve and get you on your way to profitability in a much shorter amount of time in comparison to doing it all by yourself.\r\n\r\nThe downside is the upfront cost for these programs, which can range from a few hundred to a few thousand dollars; depending on which program you go with. For many of those new to trading, the resources (money) required to purchase these programs are not available.\r\n\r\nFor those of you unable or unwilling to pony up the cash for education, the good news is that most of the information you need to get started can be found for FREE on the Internet through forums, brokers, articles and some websites.\r\n\r\nAs long as you are disciplined and laser focused on learning the markets, your chances of success increase exponentially. You have to be a gung ho student, if not you will end up n the poor house.\r\n\r\n<strong>SECOND</strong>: is your approach to the markets going to require special tools such as news feeds or charting software? As a technical Forex trader, most of the charting packages that come with your broker’s trading platform are sufficient (and some are actually quite good).\r\n\r\nFor those who need special indicators or better functionality, higher end charting software can start at around $100 a month.\r\n\r\nMaybe you are a Fundamental trader and you need the news the millisecond it is released.\r\n\r\nWell, instantaneous and accurate news feeds can run to a few thousand dollars per month. Again, you can get complimentary news feed from your Forex broker, but for some, that extra second or two can be the difference between a profitable or unprofitable trade.\r\n\r\n<strong>FINALLY:</strong> you need money/capital/funds to trade. Retail Forex brokers offer minimum account deposits as low as $25, but that doesn’t mean you should enter immediately. This is a capitalization mistake, which often leads to failure. Loses are part of trading, and you need to have enough capital to weather losses.\r\n\r\nSo how much trading capital do you need?\r\n\r\nIdeally, more than $50,000, but lets be honest it really depends on what type of trader you are and how often you will be looking at the computer plus how much can you afford to lose?\r\n\r\nBelow are the gross income data and other supporting data generated by the PREMIUM SERVICE in 2014.\r\n\r\n&nbsp;\r\n<p style=\"text-align: center;\"><strong><span style=\"text-decoration: underline;\">PREMIUM SERVICE 2014</span></strong></p>\r\n<p style=\"text-align: center;\">2014 completed TOTAL TRADES = 512</p>\r\n<p style=\"text-align: center;\"><strong>MICRO LOT TRADING\r\n</strong>Single-Lot trades cost $0.10 cents each\r\n512 trades cost to trade $51.20 income generated $1,120.90.</p>\r\n<p style=\"text-align: center;\"><strong>MINI LOT TRADING\r\n</strong>Single-Lot trades cost $1.00 each\r\n512 trades cost to trade $512.00 income generated $11,209.00</p>\r\n<p style=\"text-align: center;\"> <strong>STANDARD LOT TRADING\r\n</strong>Single-Lot trades cost $10.00 each\r\n512 trades cost to trade $5,120.00 income generated $112,100.00</p>\r\n<p style=\"text-align: center;\">From my perspective in 2015 the monies required to operate a: -</p>\r\n<p style=\"text-align: center;\"><strong>MICRO LOT</strong> ACCOUNT you need up to $5,000.00</p>\r\n<p style=\"text-align: center;\"><strong>MINI LOT</strong> ACCOUNT from a minimum of $5,000.00 to $20,000.00</p>\r\n<p style=\"text-align: center;\"><strong>STANDARD LOT</strong> ACCOUNT above $20,000.00</p>\r\n<p style=\"text-align: center;\"><strong>(Please note that in all cases RISK &amp; MONEY MANAGEMENT skills need to be adopted and a TRADING PLAN should be used)</strong></p>\r\n&nbsp;\r\n\r\nIt is common knowledge that most businesses fail due to under capitalization, which is especially true in the Forex trading business.\r\n\r\nI know that many people will say a minimum of $50,000.00 is required, but in the real world this is simply NOT always feasible as not everybody has access to that amount of money. I have proven that with single-lot trading you can make money from Forex Trading with smaller balances using trade disciplines.\r\n\r\n<strong> </strong>\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">4.2 – THE PREMIUM SERVICE – TRADING REVIEW:</span>\r\n\r\nThere are a few things that I want to talk about this week.\r\n\r\nFirstly, finally for 2015, my ratio between positive and negative trades has finally improved. I had written many times this year that the markets were less forgiving than usual and the volatility was at times very constraining to trade effectively.\r\n\r\nThe number of completed trades in 2015 is greater than at this period last year and the profit loss ratios are not as good as 2014. At least this would appear to be the start of this correction. This month so far it is 77% - 23% positive to negative trades and the year to date is 71% - 29%. It will take time but I hope to achieve my goal of 80% -20%.\r\n\r\nSecondly, my average income per completed trade is much lower than 2014. In 2014 my average pip gain per trade was 22, this year to date it is 14. I know after speaking with my “inner circle peer group” this week, everyone has lower pip gains per completed trade this year versus 2014. Nevertheless, I want to improve on this. I fully understand I can only deal with what the market gives me and now I am more of a day trader than position trader as per my normal trading outlook; however, I do want to move the bar higher in this regard.\r\n\r\nThirdly, at long last all trade types are now positive for the year.\r\n\r\nFourthly, some of you will notice that I am now back trading JPY pairs. Fundamentally, I think that JPY strength will become a feature in the Forex market, in particular, from Q2 this year. This appetite for RISK is waning a little. I see this through the lack of correlation on the JPY to equities.\r\n\r\nThe USD/JPY, whilst range bound is moving lower. Whilst one can argue, this is because of its unique relationship to the U.S. 10 year bond yields (/ZN#0), as the bond moves higher, the yields move lower and so does the USD/JPY. But in addition, the USD/JPY relationship with equities has become suspect. To support this, the AUD/JPY (the ultimate correlated trade to the S&amp;P) has been very close, touching and almost breaking a six-year trend line lower. Should this happen, and we are now only 150 pips away from this happening there will be a serious RISK OFF move.\r\n\r\nAs I wrote earlier, I cannot recall the last time that I really mentioned RISK OFF or RISK ON in the blog.\r\n\r\nFinally, be prepared should we have a RISK OFF scenario; we will be over the commodity cross rate pairs like a rash.\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">4.3 - THE PREMIUM SERVICE - EXISTING LIVE TRADES:</span>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/PS-LIVE-TRADES-19042015.png\"><img class=\"aligncenter size-full wp-image-5780\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/PS-LIVE-TRADES-19042015.png\" alt=\"PS LIVE TRADES 19042015\" width=\"720\" height=\"504\" /></a>\r\n\r\n<span style=\"text-decoration: underline;\">4.4 - THE PREMIUM SERVICE – EXISTING LIMIT ORDERS:</span>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/PS-LIMIT-ORDERS-19042015.png\"><img class=\"aligncenter size-full wp-image-5795\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/PS-LIMIT-ORDERS-19042015.png\" alt=\"PS LIMIT ORDERS 19042015\" width=\"716\" height=\"411\" /></a>\r\n\r\n&nbsp;\r\n\r\nThere are three trades RT373, RT374 and RT375 listed on the spreadsheet. These are trades that will be placed with my brokers around the market open later. I will confirm once they have been loaded.\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 20%-25% 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. In addition, I have added some detail on my HEDGING approach as well to the second FUNDAMENTAL TRADE alert page. More detailed information on HEDGING can be found inside the PREMIUM SERVICE website under the EDUCATION tab – Trading Essentials.\r\n\r\nI view the commodity cross-rate pairs, which form the basis of my FUNDAMENTAL TRADE SET-UPS as bonus trades away from the USD majors and over the year they can be very profitable. This is why I have a separate broker account for commodity cross-RATE PAIR trades. It gives me an immediate measurement of performance without the need to extrapolate data.\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">4.5 - POTENTIAL TRADES - WHAT CHARTS AM I LOOKING AT?</span>\r\n\r\n(This section usually contains charts mainly relating to non-USD majors, 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. If there are no comments beneath the charts, my comments / thoughts are written on them directly. I will tweet and email as soon as these possible trades become LIMIT ORDERS)\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">THIS WEEKS OVERVIEW:</span>\r\n\r\nThere are quite a few charts this week. My comments are on the charts for reference purposes. This week there are USD majors on smaller minute charts included in this section.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/RT375-AUDJPY-240M-19042015.png\"><img class=\"aligncenter size-large wp-image-5789\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/RT375-AUDJPY-240M-19042015-1024x517.png\" alt=\"RT375 AUDJPY 240M 19042015\" width=\"1024\" height=\"517\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/RT374-EURJPY-240M-19042015.png\"><img class=\"aligncenter size-large wp-image-5790\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/RT374-EURJPY-240M-19042015-1024x517.png\" alt=\"RT374 EURJPY 240M 19042015\" width=\"1024\" height=\"517\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/RT373-EURUSD-240M-19042015.png\"><img class=\"aligncenter size-large wp-image-5791\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/RT373-EURUSD-240M-19042015-1024x517.png\" alt=\"RT373 EURUSD 240M 19042015\" width=\"1024\" height=\"517\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/NZDUSD-240M-19042014.png\"><img class=\"aligncenter size-large wp-image-5792\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/NZDUSD-240M-19042014-1024x517.png\" alt=\"NZDUSD 240M 19042014\" width=\"1024\" height=\"517\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/GBPNZD-240M-19042015.png\"><img class=\"aligncenter size-large wp-image-5793\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/GBPNZD-240M-19042015-1024x517.png\" alt=\"GBPNZD 240M 19042015\" width=\"1024\" height=\"517\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/GBPAUD240M-19042015.png\"><img class=\"aligncenter size-large wp-image-5794\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/GBPAUD240M-19042015-1024x517.png\" alt=\"GBPAUD240M 19042015\" width=\"1024\" height=\"517\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">4.6 - 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&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/PS-TRENDING-PAIRS-19042015.png\"><img class=\"aligncenter size-full wp-image-5781\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/PS-TRENDING-PAIRS-19042015.png\" alt=\"PS TRENDING PAIRS 19042015\" width=\"401\" height=\"527\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">4.7 - THE KEY SUPPORT &amp; RESISTANCE LEVELS WITH THE USD MAJORS</span><strong><span style=\"text-decoration: underline;\">:\r\n</span></strong>(The reviews in the section are accompanied with weekly charts of the USD majors)<strong> </strong>\r\n\r\n<strong>EUR/USD: Closing Price 1.0801.</strong>\r\n\r\nWe are basically in quite a wide trading range. During the week I tried a short trade and was stopped out, believing that within the big range of 1.0460 to 1.1050 you could trade a mini range longer than a day.\r\n\r\nWe now have as seen on the chart below a really nice green candle. As you are well aware I am ultimately a USD bull. I see the opportunity to hit 100.00 on the DXY again as too much of a headline for the “algos” and market movers not to have a strike at again.\r\n\r\nHowever, I feel that we are probably going to test 1.1050 or near there first. There are around 1.1050 seven candle tips that offer great support/resistance. If ever there was a place to get short this is it. I may just set up a fresh RADAR TRADE around this level over the weekend, just to have in place once again. You know how squeezy these markets are at the moment.\r\n\r\nThe immediate support and resistance is probably 1.0740 to 1.0850.\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/EURUSD-W-19042015.png\"><img class=\"aligncenter size-large wp-image-5787\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/EURUSD-W-19042015-1024x517.png\" alt=\"EURUSD W 19042015\" width=\"1024\" height=\"517\" /></a>\r\n\r\n<strong> </strong>\r\n\r\n&nbsp;\r\n\r\n<strong>GBP/USD: Closing Price 1.4946</strong>.\r\n\r\nThis pair has moved up over 300 pips in the past week.\r\n\r\nLike other people, I was calling for this pair to move much lower, based upon the fact that we have a UK General Election inside three weeks.\r\n\r\nThe cable is probably one of, if not the worst, currency pair for taking out both sides of the market. I have watched on so many occasions the GBP/USD wipe out huge / mega support and resistance levels inside 24 hours and in so doing cleaning out all shorts and all longs in one fell swoop.\r\n\r\nThe reason I say this is that there is uncertainty in the UK and one should not believe the engulfing candle on the chart below. A weekly engulfing candle is huge for the “big hitters” like the FX banks and the large fund managers / institutional traders as they plan their trading week ahead.\r\n\r\nHowever, it is cable be careful. Nevertheless I am expecting a test of the 61.8% Fibonacci on the back of momentum trading alone and this is at 1.5180. This is assuming that we can break back above 1.5000.\r\n\r\nAs we start the week I see the trading range being 1.4850 to 1.5100.\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/GBPUSD-W-19042015.png\"><img class=\"aligncenter size-large wp-image-5786\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/GBPUSD-W-19042015-1024x517.png\" alt=\"GBPUSD W 19042015\" width=\"1024\" height=\"517\" /></a>\r\n\r\n&nbsp;\r\n\r\n<strong> </strong>\r\n\r\n<strong>AUD/USD: Closing Price 0.7773</strong>.\r\n\r\nThis pair is acting 100% opposite to my FUNDAMENTAL view of the Australian economy and how the RBA is viewing matters. Never fight a central bank (they have more money than you and they can print), so be careful long this pair it can snap back on commodity weakness and China in an instant.\r\n\r\nThe weekly chart below looks bullish, however we are heading up to the first barrier of resistance at 0.7850. Support is back at 0.7740.\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/AUDUSD-W-19042015.png\"><img class=\"aligncenter size-large wp-image-5788\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/AUDUSD-W-19042015-1024x517.png\" alt=\"AUDUSD W 19042015\" width=\"1024\" height=\"517\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n<strong>NZD/USD: Closing Price 0.7660</strong>.\r\n\r\nThe weekly chart below shows trend line resistance at 0.7740. This is where I believe the line in the sand is drawn for the Kiwi. Support initially this week is at 0.7630-35 then at 0.7580.\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/NZDUSD-W-19042015.png\"><img class=\"aligncenter size-large wp-image-5785\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/NZDUSD-W-19042015-1024x517.png\" alt=\"NZDUSD W 19042015\" width=\"1024\" height=\"517\" /></a>\r\n\r\n&nbsp;\r\n\r\n<strong>USD/CAD: Closing Price 1.2244.</strong>\r\n\r\nJust when you think that you have a really solid trading range - out pops a central bank governor at the same time as OIL spikes. The result was no better than USD/CAD (and all CAD pairs for that matter) decimated inside 4 hours of feverish buying of CAD dollars. Some spectacular moves took place.\r\n\r\nWe established a new bottom at 1.2075. Moving forward this will be support and resistance is now at 1.2350, which was the previous support that contained this pair for so long as evidenced by the weekly chart below.\r\n\r\n&nbsp;\r\n\r\n<strong><a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/USDCAD-W-19042015.png\"><img class=\"aligncenter size-large wp-image-5784\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/USDCAD-W-19042015-1024x517.png\" alt=\"USDCAD W 19042015\" width=\"1024\" height=\"517\" /></a> </strong>\r\n\r\n<strong> </strong><strong> </strong>\r\n\r\n<strong>USD/CHF: Closing Price 0.9508</strong>.\r\n\r\nI want to get long this pair. However, EUROZONE uncertainty surrounding GREECE and the CHF “safe trade” has me on the back foot.\r\n\r\nWe are stopped at the 38% retracement of the weekly move following the EUR/CHF peg removal earlier this year (see the weekly chart below). That in itself is quite a shallow retracement of the move but an acceptable one.\r\n\r\nI think we have to look at the EUR/USD for our lead with this pair. If the EUR/USD heads towards 1.1050 prior to reversing then this pair will drop further, maybe to the 50% or 61.8% retracement levels of 0.9300 and 0.9100 respectively.\r\n\r\nI hate to say this but keep this one on your RADAR for the coming week or two<strong>. </strong>I am tempted to place a LIMIT ORDER based around a 61.8% entry, as I feel the EUR/USD 1.1050 if touched, would then reverse quickly. I am not an advocate of picking tops or bottoms, but these levels are like “tractor beams” for the markets to aim at.\r\n\r\nFor this week however, assuming that the 38% level of support does NOT hold, support will be at 0.9480 and resistance at 0.9620.\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/USDCHF-W-19042015.png\"><img class=\"aligncenter size-large wp-image-5783\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/USDCHF-W-19042015-1024x517.png\" alt=\"USDCHF W 19042015\" width=\"1024\" height=\"517\" /></a>\r\n\r\n&nbsp;\r\n\r\n<strong> </strong>\r\n\r\n<strong> </strong>\r\n\r\n<strong>USD/JPY: Closing Price 118.88.</strong>\r\n\r\nNo change from last week. We are still in the same range (see weekly chart below).\r\n\r\nSupport at 115.60 and resistance at 122.00, however, we are starting to make a move towards the lower end of the range. I do not want to have everyone getting over excited but my thoughts are that with bond yield moving the pressure on the USD/JPY is intensifying and a move lower is inevitable if the correlation with U.S. treasuries sticks.\r\n\r\nThis could be a big week for the JPY.\r\n\r\nImmediate support is at 118.20 and resistance back at 119.50.\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/USDJPY-W-19042015.png\"><img class=\"aligncenter size-large wp-image-5782\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/USDJPY-W-19042015-1024x517.png\" alt=\"USDJPY W 19042015\" width=\"1024\" height=\"517\" /></a>\r\n\r\n&nbsp;\r\n<ol start=\"5\">\r\n	<li><strong><span style=\"text-decoration: underline;\"> THE CONCLUSION - MY FINAL THOUGHTS:</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...one less thing to worry about!\r\n\r\n<span style=\"text-decoration: underline;\">5.2 –TRADING TIPS &amp; THOUGHTS FOR THE WEEK AHEAD:</span>\r\n\r\nWe have a lot of geopolitical news hanging around so we must trade with tighter stops.\r\n\r\nGREECE is of major concern and any trades placed with EUR or CHF pairs should be monitored very closely. I would suggest that smaller position sizes and wider stops are used.\r\n\r\nOil and the continuing middle-east issues will keep the USD in check, as well Oil related currencies such as CAD, NOK and MXN.\r\n\r\nWe also have China data this week so that alerts us with regards to the AUD and NZD pairs.\r\n\r\nThe UK election places you on GBP alert.\r\n\r\nNow, which pairs have I not mentioned!!!!\r\n\r\nAh ha…. the JPY - U.S. treasuries need to be watched so that brings in the USD/JPY.\r\n\r\nSo there you have it, all currency pairs have potential red lights - you can’t trade - take the week off!\r\n\r\nBasically, we will trade. But we need to be aware of the factors around us that can affect pricing in an instant. Trade smaller with wider stops to cope with the volatility.\r\n\r\nWe will have opportunities to make $$$, we just have to be alert and careful.\r\n\r\nAs always, there will be trades to trade and there will be some great opportunities, please trade in line with your RISK MANAGEMENT parameters from your TRADING PLAN. If you do not have a TRADE PLAN, in my opinion, you should, as this will help you with consistency.\r\n<p style=\"text-align: center;\"><strong>Consistency = longevity in trading and that is a critical goal.\r\nIT IS THE KEY MEASUREMENT</strong></p>\r\nBefore you enter a trade work out the risk, price it in $$$. 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\nSunday April 19th 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<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 do','GREECE – JUST WAITING FOR THE FAT LADY TO SING!','','publish','open','closed','','greece-just-waiting-for-the-fat-lady-to-sing','','','2015-04-19 06:16:40','2015-04-19 11:16:40','',0,'https://weeklyfxdrivethru.com/?post_type=member_posts&#038;p=5797',0,'member_posts','',0),(5798,1,'2015-04-18 13:08:28','2015-04-18 18:08:28','<p style=\"text-align: center;\"><strong>THE PREMIUM SERVICE\r\n</strong><strong>The Home of Single-Lot Trading\r\n</strong><strong style=\"line-height: 1.5;\">www.weeklyfxdrivethru.com</strong></p>\r\n<strong>DATE: 19.04.2015\r\nREFERENCE: #56\r\n</strong><strong>BLOG: THE PREMIUM SERVICE</strong>\r\n\r\n&nbsp;\r\n<ol>\r\n	<li><strong> INTRODUCTION - MY OVERVIEW OF THE FOREX MARKET:</strong></li>\r\n</ol>\r\n<span style=\"text-decoration: underline;\">LOOKING BACKWARDS, FORWARDS &amp; SIDEWAYS (FOR GOOD MEASURE) AT THE FX MARKET:</span>\r\n\r\n<span style=\"text-decoration: underline;\">1.1 - LOOKING BACKWARDS:</span>\r\n\r\nThere were three news events last week that I want to mention.\r\n\r\n<span style=\"text-decoration: underline;\">ECB – RATE STATEMENT:</span>\r\n\r\nIn my opinion one of the most boring ECB Press Conferences in history, well, at lease since I started trading. The real excitement was the female protestor jumping onto the front desk covering Draghi in confetti.\r\n\r\nIn recent weeks EUROZONE data has been improving so Draghi had an easy ride for a change. He was bullish on the following points: -\r\n<ul>\r\n	<li>The cyclical recovery in the euro area has strengthened.</li>\r\n	<li>The Asset Purchase program has been successful.</li>\r\n	<li>The program is flexible and will run until September 2016, or until there is a sustained increase in inflation.</li>\r\n	<li>The ECB has no difficulties in finding bonds to purchase.</li>\r\n	<li>Any concerns about bond scarcity are “premature”.</li>\r\n	<li>ECB exposure to GREECE is €110 billion (largest to any EUROZONE member).</li>\r\n</ul>\r\nFrom a trading perspective, I took nothing new from this statement at all. My FUNDAMENTAL views relating to the EUROZONE have not altered.\r\n\r\n<span style=\"text-decoration: underline;\">BOC MEETING MINUTES:</span>\r\n\r\nBy comparison to the ECB meeting, Stephen Poloz, BOC Governor            was quite HAWKISH in his comments. This sent the USD/CAD into a tailspin lower taking out support after support level. The fact that WTi was rallying at the same time further exacerbated the strength of the CAD and the entire cross rates fell as well.\r\n\r\nThe crosses have made modest recoveries since last Wednesday and look very oversold, but as the CAD currency appears to be treated like the MXN and NOK as a proxy for the OIL price, it is moves in Oil that seem to dictate the direction of the USD/CAD.\r\n\r\nMoving forward, I think we treat the CAD as we have for the past few weeks. OIL up the CAD strengthens…OIL down the CAD weakens…\r\n\r\nThe entire CAD related pairs look great buys at these low levels. Check out the charts later (section 4.5), I am thinking of a couple of smaller position sized lower risk trades.\r\n\r\nThe one aspect about the Forex market is that there are always opportunities, but the risks have to be managed.\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">CHINA GDP:</span>\r\n\r\nChina GDP printed at 7%.\r\n\r\nA few years ago if this number were printed there would have been an almighty reaction and comments about the end of the world would have featured in the press. I was a little surprised that we did not get much of a follow through with the AUD and NZD currencies after this data release.\r\n\r\nIt is so strange now; news is reacted to and then just forgotten so quickly.\r\n\r\nIt has been such a long time since I have written we are either in a RISK OFF or RISK ON environment. The currency wars have really stopped all this. The “rock star” central bank presidents and governors have taken so much joy out of trading.\r\n\r\nThe CHINA data represents weakening in the “sweat room” of the world, and, people such as Mark Faber (Doom, Gloom and Boom report), actually believe the true China GDP figure is closer to 5%; who knows?\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">GEOPOLITICAL EVENTS:</span>\r\n<ol>\r\n	<li><span style=\"text-decoration: underline;\"> GREECE:</span></li>\r\n</ol>\r\nThe GREECE situation is just not going to go away.\r\n\r\nIn my opinion, the negative comments about the Greek negotiations made by Wolfgang Schaeuble, the German Finance minister, acted only to fan the flames and frankly I believe the whole subject would be better served if he kept his “GOB” firmly closed. He may be Merkel’s mouthpiece, pit bull or assassin of hope, however, his comments and negativity are just draining on the whole subject. Frankly, he has reached the point when I no longer look to his comments for inspiration; it is now more of a case of what has that silly old bastard said now!!\r\n\r\nI am writing about GREECE later and will revisit this again; I will NOT be able to stop my self for any repetition. I apologise in advance.\r\n<ol start=\"2\">\r\n	<li><span style=\"text-decoration: underline;\"> OIL – YEMEN – IRAN:</span></li>\r\n</ol>\r\nNo change it is now becoming a real humanitarian issue. It is a case of over there rather than over here and OIL is getting through, so no-one real has it high on their agendas.\r\n\r\nThis is just getting messier by the day. I cannot see an end game here in the short-term.\r\n\r\nThe IRAN nuclear issue has gone quiet again over the matter of trust. Nothing new with this one, no one trusts anyone. What a great world we live in.\r\n\r\nFrom a trading perspective, OIL supplies are not threatened\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">1.2 - LOOKING FORWARDS:</span>\r\n\r\n<span style=\"text-decoration: underline;\">MAJOR FOREX NEWS THIS WEEK THAT INTERESTS ME:\r\n</span>(There are many more news items related to the Forex Market than the ones listed below. These are the ones that interest me. You can go to <a href=\"http://www.forexfasctory.com\">www.forexfactory.com</a> and <a href=\"http://www.tradingeconomics.com\">www.tradingeconomics.com</a> for more comprehensive lists of all news events that are Forex related).\r\n\r\nSUNDAY: NZD - CPi.\r\nSUNDAY: CNY – HSBC Flash Manufacturing PMI\r\n\r\nMONDAY: EUR – German &amp; French Manufacturing PMi.\r\nMONDAY: AUD – Monetary Policy Meeting Minutes.\r\n\r\nTUESDAY: EUR – German ZEW Economic Sentiment.\r\nTUESDAY: AUD - CPi.\r\n\r\nWEDNESDAY: N/A.\r\n\r\nTHURSDAY: N/A.\r\n\r\nFRIDAY: N/A.\r\n\r\n<span style=\"text-decoration: underline;\">MY THOUGHTS:</span>\r\n\r\nFrom my interest viewpoint, it looks like a very light week on economic data.\r\n\r\nI have a feeling however, that we will have a busy week with GREECE. So this will not be a time to do spring gardening, decorating etc.…\r\n\r\nI may be able to move my trading to the terrace if the weather holds up but I am expecting some twists and turns and no doubt some irrational squeezes in the coming week just to piss me off!!\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">CHINA:</span>\r\n\r\nBe prepared for the possibility of strong sell-offs in equities in the coming week. It appears that the authorities in China are about to actively support “short-selling” of equities in a big way\r\n\r\nI wrote last week that over a million new trading accounts per month were being added to China brokerages and basically, all this means is that the new “players” buy, buy and buy some more.\r\n\r\nIt does appear that the bubble conscious authorities in China have suddenly realized the monster that has been created and now they are going to act by supporting “short-selling”.\r\n\r\nBear this in mind because no matter how much of a heads up we have this will affect currencies.\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">1.3 - LOOKING SIDEWAYS (FOR GOOD MEASURE):\r\n</span>\r\n\r\n<span style=\"text-decoration: underline;\">FOREX MARKET CONDITIONS:</span>\r\n\r\nDare I say it, but we had a 48-hour period of reasonable normality in the markets. Correlations came into sync and we were able to trade with relative confidence given that we had a backdrop of geopolitical tensions dotted here and there.\r\n\r\nOne factor that is resonating more and more with me is “King USD”. It is still the flight to safety when all things matter.\r\n\r\nHow the market treats the USD, pretty much dominates all things Forex. Let me elaborate a little.\r\n\r\nThe China GDP print at 7% was a devastating number in particular for the AUD and NZD, as expected they weakened across the board. However, within 36 hours the AUD/USD and NZD/USD were breaking new trend highs on the back of USD weakness.\r\n\r\nAs a FUNDAMENTAL trader first, then TECHNICAL, this is extremely difficult for me to initially deal with and my first reaction is caution in the sense of do not believe the move. The markets are what they are and there is very little logic at times, I suppose this is what makes the Forex market so interesting, but at the same time annoying to trade.\r\n\r\nIn 2014, I found myself trading less and being in trades longer. This year the markets are so “skittish” I am trading more for less income per trade.\r\n\r\nI know that I am not alone in this and I am also advised from PREMIUM SERVICE subscribers, that as a result in 2015, trading conditions compared to 2014 showed that the swings in account balances have been greater than ever. Two or three good days are then followed by a bad day. This is something that I am trying my best to eradicate but unfortunately it very difficult.\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">FOREX LIQUIDITY:\r\n</span>(This short segment was in last week’s blog. It is so relevant to matters now I have left it in this week as well so that new readers can capture the content)\r\n\r\nI read in the Financial Times last week that the Forex Market, which is now a USD$5.3 trillion a day on average marketplace, has a problem (Over the past few weeks I have been moaning about too many squeezes and weird market trading conditions).\r\n\r\nIt appears the mechanics of the market have been drawn into question. Is there a decline, or cyclical decline in Forex trading? I would say that it was noted recently that some of the banks who traded Forex were cutting back after taking some heavy losses.\r\n\r\nWithout doubt greater regulation in the banking industry is weeding out the “under the counter cheating” that took place and is becoming very quickly a trait of the past. I know for a fact that thousands of retail traders left after the SNB. Over leveraged accounts were wiped out.\r\n\r\nWithout doubt we see much larger volatile moves and if you are caught the wrong way it can be very painful.\r\n\r\nTo cover this volatility many of the banks have widened the spreads offered to their supporting brokers. This has resulted in many retail traders closing their accounts and no longer trading FOREX. Without doubt if banks lose money they will protect themselves and they will have a lower risk appetite. I think I wrote that in February this year daily volumes compared with January were lower by 16%. This is a significant number.\r\n\r\nAs if we do not have enough to consider, we now have a permanent liquidity fear if one of the major FX banks is absent from the market for a few moments…. just brilliant… just great.\r\n\r\nForex trading is an evolving market and is going through changes. All we can do is get the head down, look for high probability trades, set the best stops we can based on our RISK TOLERANCES and trade.\r\n\r\nLike so many of you, I still find trading conditions quite difficult. I seem to be moving forwards and then backwards to move forwards again. It is very, very frustrating.\r\n\r\nThe PREMIUM SERVICE still moves forward in these sticky / changing conditions, so I am obviously delighted. It is much harder than last year but we still move forwards despite all that is thrown in our direction.\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<strong>GREECE – </strong><strong>JUST WAITING FOR THE FAT LADY TO SING!</strong>\r\n\r\nOf late there has been so much written, and so much speculation in the media on this topic. Frankly when I wrote my article in the blog dated April 5<sup>th</sup> “Does Merkel Have The Balls To Risk A Contagion”, deep down I thought that when push comes to a shove that Germany would back down.\r\n\r\nRecent comments from Merkel’s “Pit-bull”, Wolfgang Schaeuble (German Finance Minister), would indicate that the Germans are prepared for a GREXIT. Without doubt on May 1<sup>st</sup> and May 12<sup>th</sup> the Greek government has payments due to the IMF totaling €200 million and €763 million respectively and I just cannot see these payments being made given the current set of circumstances.\r\n\r\nWe therefore, will have a default on our hands.\r\n\r\nWhat does this mean for GREECE and the EUROZONE?\r\n\r\nFor GREECE, it would be devastating. Already I have read about Greek importers having credit lines removed from suppliers who originate outside of GREECE. All imports have to be paid in full prior to shipment.\r\n\r\nEarlier last week there was a leaked IMF document that showed that calculations on the Tax and Income effect from changes requested by the Trioka were incorrectly calculated. The relationship between changes in direct and indirect tax when added to a reduction in government spending and the effect that this would have on GDP were not calculated accurately. These Fiscal Multipliers that form the benchmark of a governments annual accounts were screwed and no matter what GREECE was able to do it would never be enough.\r\n\r\nThe alleged long-term solution was so drastic it set GREECE back instead of allowing a gradual move forward. A situation that would take effectively decades to fix was fixed at a stroke of a pen overnight…. or not as the case is.\r\n\r\nI read only a few days ago in passing that even if GREECE had a GDP rate of 10% per annum for the next 5 years they would still be no better off and could not effectively manage.\r\n\r\nWhat is the point of a bailout for a country that simply cannot pay at any price?\r\n\r\nGreek debt totals about €323 billion. Of this total about €15 billion is held by Greek banks and a further €246 billion by the ECB and other EUROZONE banks.\r\n\r\nAnyone who says that a Greek default would not really affect the EUROZONE and in fact the EUROZONE would be stronger without GREECE, needs to grab the concept of market uncertainty and contagion.\r\n\r\nFor the EUROZONE, the financial numbers will create market uncertainty and whilst they would be considered somewhat nominal, there would be a negative effect.\r\n\r\nThe bigger risk however is contagion. If a GREXIT occurs, every far right party and every anti-Europe, anti-Brussels party in the EUROZONE would be on RED alert. If GREECE can return to the Drachma we will go back to whatever….\r\n\r\nThis is the contagion risk that could break up the EUROZONE, as we know it today. It could happen. Very few people in the EUROZONE actually voted for the single-currency. There could be fireworks ahead.\r\n\r\nSo what happens next, if GREECE defaults? By the way, there is NO SUCH THING AS AN ORDERLEY DEFAULT. You can be prepared but you will not know when it will happen. Here are some possible scenarios:\r\n<ol>\r\n	<li>The Athens government in Greece announces capital controls.</li>\r\n	<li>GREECE issues basically IOU’s to pay for essential services.</li>\r\n	<li>The Drachma is re-introduced and operates alongside the EUR until the EUR is totally withdrawn.</li>\r\n	<li>There is huge confusion over the potential value of the Drachma versus the EUR and people are reluctant to hold the new currency. This creates a potential run on the banks probably across parts of Europe, in particular the periphery. In GREECE capital controls basically freeze accounts and only Drachmas can be withdrawn.</li>\r\n	<li>Possible Capital Controls in other periphery countries banks as rumours of more potential exits of the EUROZONE hit the newswires and the populations around the EUROZONE see how GREECE coped, or didn’t with the transfer.</li>\r\n	<li>Emergency ECB measures on movement of monies throughout the EUROZONE.</li>\r\n	<li>Emergency ECB measures for EUROZONE state banks to hold monies overnight.</li>\r\n	<li>ECB bank guarantees bank deposits throughout the EUROZONE.</li>\r\n	<li>The EUR/USD is now sub-parity towards 0.9600.</li>\r\n	<li>Huge uncertainty in GREECE as the Greek people protest riots in Athens.</li>\r\n	<li>The blame game between Athens and the EUROGROUP reaches new levels over who didn\'t trust whom, causing political uncertainty in other EUROZONE countries. Stability is threatened.</li>\r\n	<li>We have a contagion effect.</li>\r\n</ol>\r\nIf there is an eleventh hour solution it will probably be yet another fudge by Merkel to buy time so that the EUROZONE central banks can offload a potential future Greek default situation into the ECB.\r\n\r\nPersonally, I think that the Greek government knows what they are going to do and are scheduling an emergency timetable to minimalize all the risks associated with a default.\r\n\r\nI wrote a few weeks ago about trust within the relationships in the EUROZONE, not just the trust issues that are so apparent between GREECE and GERMANY but within the other relationships that exist. The EUROZONE is the name given to the countries within the EUROPEAN UNION that adopt the single currency. However the entire area of Europe with all partners is called the EUROPEAN UNION, this encompasses members who do not use the single currency such as the UK, Sweden, Norway and Denmark. The UNION stands out…”UNION my arse”, most issues inside EUROPE are so far away from a UNION status it re-defines the word.\r\n\r\nI am amazed at the market complacency surrounding this and the EUR/USD trading above 1.0800, I just cannot fathom.\r\n\r\nI cannot see a way out other than a GREXIT and the on-going contagion games will begin. Whilst you cannot attribute blame to GREECE for this mess the EUROGROUP and TRIOKA are equally at fault with setting financial goals, objectives and measures that the Greek economy could not support in anyway shape or form\r\n\r\nNow we have the “Pit-bull” (Schaeuble) acting out a modern Pontius Pilate routine in front of the world’s media. It is a bloody disgrace how GREECE got here, but my God what a UNION!!!\r\n\r\nI await the Reuters feed soon with the news.\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 and SUBSCRIPTION PRICING:</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<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/PS-SUBSCRIPTION-COSTS-05042015.png\"><img class=\"aligncenter size-full wp-image-5668\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/PS-SUBSCRIPTION-COSTS-05042015.png\" alt=\"PS SUBSCRIPTION COSTS 05042015\" width=\"380\" height=\"473\" /></a>\r\n\r\n<span style=\"text-decoration: underline;\">COMING SOON - SILVER &amp; GOLD - PREMIUM SERVICE MEMBER STATUS:</span>\r\n\r\nRegular readers will be aware that during the past couple of months I have been upgrading speeds and revising content and deliverables within the PREMIUM SERVICE.\r\n\r\nAll of my subscribers were contacted for views about the potential changes and ideas moving forward. Many items have been addressed already, but, others require additional work “behind the scenes” to implement.\r\n\r\nOne of the suggestions was create a two-tier approach to the subscription of the PREMIUM SERVICE.\r\n\r\nBasically this is what is proposed and on the table: -\r\n\r\n<span style=\"text-decoration: underline;\">GOLD MEMBER STATUS:</span>\r\n<ul>\r\n	<li>100% access to the PREMIUM SERVICE website.</li>\r\n	<li>A dedicated exclusive twitter feed for GOLD subscribers only @ThePremService.</li>\r\n	<li>All trade set-ups communicated via Twitter and RADAR and FUNDAMENTAL trades additionally via email when possible.</li>\r\n	<li>The WEEKLY FX DRIVE THRU (access to the full and complete version) delivered weekly via an emailed PDF, and, viewable on line inside the PREMIUM SERVICE secure section of <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a></li>\r\n	<li> My thoughts and comments on market conditions via twitter.</li>\r\n</ul>\r\nSubscriptions costs remain as they are (see below).\r\n\r\n<span style=\"text-decoration: underline;\">SILVER MEMBER STATUS:</span>\r\n<ul>\r\n	<li>A new dedicated exclusive twitter feed for SILVER subscribers only (TBA).</li>\r\n	<li>Limited access to the PREMIUM SERVICE website (trade information only).</li>\r\n	<li>The WEEKLY FX DRIVE THRU (the restricted version) delivered weekly via an emailed PDF and viewable online at <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a></li>\r\n</ul>\r\nSubscription costs for SILVER members will be advised soon. I am hoping to launch this within the next two / three weeks\r\n\r\n<span style=\"text-decoration: underline;\">3.2 - SUMMARY OF PERFORMANCE:</span>\r\n\r\n(Only the excel spreadsheets will now be shown in this section. References to previous, present and future trades “LAST WEEK’s TRADING REVIEW” will now be provided solely for the benefit of PREMIUM SERVICE subscribers and has been moved into section 4).\r\n\r\n<span style=\"text-decoration: underline;\">3.2.1 – PREMIUM SERVICE – COST INCOME ANALYSIS:\r\n</span>\r\n<p style=\"text-align: center;\"><strong>EMANATING FROM TRADE SET-UPS - 2015 to date:</strong></p>\r\n<p style=\"text-align: center;\"><span style=\"text-decoration: underline;\">MICRO LOT TRADER</span> - 258 trades cost to trade = $25.80\r\n<strong>PROFIT</strong> from 258 trades = <strong><span style=\"text-decoration: underline;\">$363.00</span></strong></p>\r\n<p style=\"text-align: center;\"><span style=\"text-decoration: underline;\">MINI LOT TRADER</span> - 258 trades cost to trade = $258.00\r\n<strong>PROFIT</strong> from 258 trades = <strong><span style=\"text-decoration: underline;\">$3,630.00</span></strong></p>\r\n<p style=\"text-align: center;\"><span style=\"text-decoration: underline;\">STANDARD LOT TRADER</span> - 258 trades cost to trade = $2,580.00\r\n<strong>PROFIT</strong> from 258 trades = <strong><span style=\"text-decoration: underline;\">$36,300.00</span></strong></p>\r\n<p style=\"text-align: center;\"><strong><span style=\"text-decoration: underline;\">PLEASE NOTE:</span></strong></p>\r\n<p style=\"text-align: center;\"><span style=\"color: #0000ff;\">If this sort of risk/reward income opportunity interests you:</span>\r\n<span style=\"color: #0000ff;\">To join the PREMIUM SERVICE at the introductory level subscribe to the initial</span>\r\n<span style=\"color: #0000ff;\">4 week subscription and receive a 5<sup>th</sup> week FREE!!</span>\r\n<span style=\"color: #0000ff;\">See the PROMOTIONS tab on my landing page at</span>\r\n<span style=\"color: #0000ff;\">www.weeklyfxdrivrethru.com</span></p>\r\n<span style=\"text-decoration: underline;\">3.2.2 - PREMIUM SERVICE - PROFIT/LOSS RATIOS:</span>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/PROFIT-LOSS-RATIO-19042015.png\"><img class=\"aligncenter size-full wp-image-5771\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/PROFIT-LOSS-RATIO-19042015.png\" alt=\"PROFIT-LOSS RATIO 19042015\" width=\"424\" height=\"586\" /></a>\r\n\r\n<span style=\"text-decoration: underline;\">3.2.3 - PREMIUM SERVICE - RISK/REWARD ANALYSIS:</span>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/RISK-REWARD-19042015.png\"><img class=\"aligncenter size-full wp-image-5772\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/RISK-REWARD-19042015.png\" alt=\"RISK-REWARD 19042015\" width=\"436\" height=\"555\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">3.2.4 - PREMIUM SERVICE - OVERALL TRADE SUMMARY MONTH &amp; YTD:</span>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/REM-SERV-PROFITS-1-19042015.png\"><img class=\"aligncenter size-full wp-image-5773\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/REM-SERV-PROFITS-1-19042015.png\" alt=\"REM SERV PROFITS 1 19042015\" width=\"461\" height=\"435\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/PREM-SERV-PROFITS-2-19042015.png\"><img class=\"aligncenter size-full wp-image-5774\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/PREM-SERV-PROFITS-2-19042015.png\" alt=\"PREM SERV PROFITS 2 19042015\" width=\"472\" height=\"421\" /></a>\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.)<strong> </strong>\r\n\r\n<strong>HOW MUCH TRADING CAPITAL DO YOU NEED FOR FOREX TRADING?</strong>\r\n\r\nIt takes money to make money.\r\n\r\nYou need <strong>Trading Capital</strong>. Everyone knows that, but how much does one need to get started in Forex trading? The answer largely depends on how you are going to approach your new start-up business.\r\n\r\n<strong>FIRST</strong>: consider how you are going to be educated. There are many different approaches to learning how to trade: classes, mentors, on your own, or any combination of the three.\r\n\r\nWhile there are many classes and mentors out there willing to teach Forex trading, most will charge a fee. The benefit of this route is that a well taught class or great mentor can significantly shorten your learning curve and get you on your way to profitability in a much shorter amount of time in comparison to doing it all by yourself.\r\n\r\nThe downside is the upfront cost for these programs, which can range from a few hundred to a few thousand dollars; depending on which program you go with. For many of those new to trading, the resources (money) required to purchase these programs are not available.\r\n\r\nFor those of you unable or unwilling to pony up the cash for education, the good news is that most of the information you need to get started can be found for FREE on the Internet through forums, brokers, articles and some websites.\r\n\r\nAs long as you are disciplined and laser focused on learning the markets, your chances of success increase exponentially. You have to be a gung ho student, if not you will end up n the poor house.\r\n\r\n<strong>SECOND</strong>: is your approach to the markets going to require special tools such as news feeds or charting software? As a technical Forex trader, most of the charting packages that come with your broker’s trading platform are sufficient (and some are actually quite good).\r\n\r\nFor those who need special indicators or better functionality, higher end charting software can start at around $100 a month.\r\n\r\nMaybe you are a Fundamental trader and you need the news the millisecond it is released.\r\n\r\nWell, instantaneous and accurate news feeds can run to a few thousand dollars per month. Again, you can get complimentary news feed from your Forex broker, but for some, that extra second or two can be the difference between a profitable or unprofitable trade.\r\n\r\n<strong>FINALLY:</strong> you need money/capital/funds to trade. Retail Forex brokers offer minimum account deposits as low as $25, but that doesn’t mean you should enter immediately. This is a capitalization mistake, which often leads to failure. Loses are part of trading, and you need to have enough capital to weather losses.\r\n\r\nSo how much trading capital do you need?\r\n\r\nIdeally, more than $50,000, but lets be honest it really depends on what type of trader you are and how often you will be looking at the computer plus how much can you afford to lose?\r\n\r\nBelow are the gross income data and other supporting data generated by the PREMIUM SERVICE in 2014.\r\n\r\n&nbsp;\r\n<p style=\"text-align: center;\"><strong><span style=\"text-decoration: underline;\">PREMIUM SERVICE 2014</span></strong></p>\r\n<p style=\"text-align: center;\">2014 completed TOTAL TRADES = 512</p>\r\n<p style=\"text-align: center;\"><strong>MICRO LOT TRADING\r\n</strong>Single-Lot trades cost $0.10 cents each\r\n512 trades cost to trade $51.20 income generated $1,120.90.</p>\r\n<p style=\"text-align: center;\"><strong>MINI LOT TRADING\r\n</strong>Single-Lot trades cost $1.00 each\r\n512 trades cost to trade $512.00 income generated $11,209.00</p>\r\n<p style=\"text-align: center;\"> <strong>STANDARD LOT TRADING\r\n</strong>Single-Lot trades cost $10.00 each\r\n512 trades cost to trade $5,120.00 income generated $112,100.00</p>\r\n<p style=\"text-align: center;\"></p>\r\n<p style=\"text-align: center;\">From my perspective in 2015 the monies required to operate a: -</p>\r\n<p style=\"text-align: center;\"><strong>MICRO LOT</strong> ACCOUNT you need up to $5,000.00</p>\r\n<p style=\"text-align: center;\"><strong>MINI LOT</strong> ACCOUNT from a minimum of $5,000.00 to $20,000.00</p>\r\n<p style=\"text-align: center;\"><strong>STANDARD LOT</strong> ACCOUNT above $20,000.00</p>\r\n<p style=\"text-align: center;\"><strong>(Please note that in all cases RISK &amp; MONEY MANAGEMENT skills need to be adopted and a TRADING PLAN should be used)</strong></p>\r\n&nbsp;\r\n\r\nIt is common knowledge that most businesses fail due to undercapitalization, which is especially true in the Forex trading business.\r\n\r\nI know that many people will say a minimum of $50,000.00 is required, but in the real world this is simply NOT always feasible as not everybody has access to that amount of money. I have proven that with single-lot trading you can make money from Forex Trading with smaller balances using trade disciplines.\r\n\r\n<strong> </strong>\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">4.2 – THE PREMIUM SERVICE – TRADING REVIEW:</span>\r\n\r\nThere are a few things that I want to talk about this week.\r\n\r\nFirstly, finally for 2015, my ratio between positive and negative trades has finally improved. I had written many times this year that the markets were less forgiving than usual and the volatility was at times very constraining to trade effectively.\r\n\r\nThe number of completed trades in 2015 is greater than at this period last year and the profit loss ratios are not as good as 2014. At least this would appear to be the start of this correction. This month so far it is 77% - 23% positive to negative trades and the year to date is 71% - 29%. It will take time but I hope to achieve my goal of 80% -20%.\r\n\r\nSecondly, my average income per completed trade is much lower than 2014. In 2014 my average pip gain per trade was 22, this year to date it is 14. I know after speaking with my “inner circle peer group” this week, everyone has lower pip gains per completed trade this year versus 2014. Nevertheless, I want to improve on this. I fully understand I can only deal with what the market gives me and now I am more of a day trader than position trader as per my normal trading outlook; however, I do want to move the bar higher in this regard.\r\n\r\nThirdly, at long last all trade types are now positive for the year.\r\n\r\nFourthly, some of you will notice that I am now back trading JPY pairs. Fundamentally, I think that JPY strength will become a feature in the Forex market, in particular, from Q2 this year. This appetite for RISK is waning a little. I see this through the lack of correlation on the JPY to equities.\r\n\r\nThe USD/JPY, whilst range bound is moving lower. Whilst one can argue, this is because of its unique relationship to the U.S. 10 year bond yields (/ZN#0), as the bond moves higher, the yields move lower and so does the USD/JPY. But in addition, the USD/JPY relationship with equities has become suspect. To support this, the AUD/JPY (the ultimate correlated trade to the S&amp;P) has been very close, touching and almost breaking a six-year trend line lower. Should this happen, and we are now only 150 pips away from this happening there will be a serious RISK OFF move.\r\n\r\nAs I wrote earlier, I cannot recall the last time that I really mentioned RISK OFF or RISK ON in the blog.\r\n\r\nFinally, be prepared should we have a RISK OFF scenario; we will be over the commodity cross rate pairs like a rash.\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">4.3 - THE PREMIUM SERVICE - EXISTING LIVE TRADES:</span>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/PS-LIVE-TRADES-19042015.png\"><img class=\"aligncenter size-full wp-image-5780\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/PS-LIVE-TRADES-19042015.png\" alt=\"PS LIVE TRADES 19042015\" width=\"720\" height=\"504\" /></a>\r\n\r\n<span style=\"text-decoration: underline;\">4.4 - THE PREMIUM SERVICE – EXISTING LIMIT ORDERS:</span>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/PS-LIMIT-ORDERS-19042015.png\"><img class=\"aligncenter size-full wp-image-5795\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/PS-LIMIT-ORDERS-19042015.png\" alt=\"PS LIMIT ORDERS 19042015\" width=\"716\" height=\"411\" /></a>\r\n\r\n&nbsp;\r\n\r\nThere are three trades RT373, RT374 and RT375 listed on the spreadsheet. These are trades that will be placed with my brokers around the market open later. I will confirm once they have been loaded.\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 20%-25% 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. In addition, I have added some detail on my HEDGING approach as well to the second FUNDAMENTAL TRADE alert page. More detailed information on HEDGING can be found inside the PREMIUM SERVICE website under the EDUCATION tab – Trading Essentials.\r\n\r\nI view the commodity cross-rate pairs, which form the basis of my FUNDAMENTAL TRADE SET-UPS as bonus trades away from the USD majors and over the year they can be very profitable. This is why I have a separate broker account for commodity cross-RATE PAIR trades. It gives me an immediate measurement of performance without the need to extrapolate data.\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">4.5 - POTENTIAL TRADES - WHAT CHARTS AM I LOOKING AT?</span>\r\n\r\n(This section usually contains charts mainly relating to non-USD majors, 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. If there are no comments beneath the charts, my comments / thoughts are written on them directly. I will tweet and email as soon as these possible trades become LIMIT ORDERS)\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">THIS WEEKS OVERVIEW:</span>\r\n\r\nThere are quite a few charts this week. My comments are on the charts for reference purposes. This week there are USD majors on smaller minute charts included in this section.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/RT375-AUDJPY-240M-19042015.png\"><img class=\"aligncenter size-large wp-image-5789\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/RT375-AUDJPY-240M-19042015-1024x517.png\" alt=\"RT375 AUDJPY 240M 19042015\" width=\"1024\" height=\"517\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/RT374-EURJPY-240M-19042015.png\"><img class=\"aligncenter size-large wp-image-5790\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/RT374-EURJPY-240M-19042015-1024x517.png\" alt=\"RT374 EURJPY 240M 19042015\" width=\"1024\" height=\"517\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/RT373-EURUSD-240M-19042015.png\"><img class=\"aligncenter size-large wp-image-5791\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/RT373-EURUSD-240M-19042015-1024x517.png\" alt=\"RT373 EURUSD 240M 19042015\" width=\"1024\" height=\"517\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/NZDUSD-240M-19042014.png\"><img class=\"aligncenter size-large wp-image-5792\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/NZDUSD-240M-19042014-1024x517.png\" alt=\"NZDUSD 240M 19042014\" width=\"1024\" height=\"517\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/GBPNZD-240M-19042015.png\"><img class=\"aligncenter size-large wp-image-5793\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/GBPNZD-240M-19042015-1024x517.png\" alt=\"GBPNZD 240M 19042015\" width=\"1024\" height=\"517\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/GBPAUD240M-19042015.png\"><img class=\"aligncenter size-large wp-image-5794\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/GBPAUD240M-19042015-1024x517.png\" alt=\"GBPAUD240M 19042015\" width=\"1024\" height=\"517\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">4.6 - 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&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/PS-TRENDING-PAIRS-19042015.png\"><img class=\"aligncenter size-full wp-image-5781\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/PS-TRENDING-PAIRS-19042015.png\" alt=\"PS TRENDING PAIRS 19042015\" width=\"401\" height=\"527\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">4.7 - THE KEY SUPPORT &amp; RESISTANCE LEVELS WITH THE USD MAJORS</span><strong><span style=\"text-decoration: underline;\">:\r\n</span></strong>(The reviews in the section are accompanied with weekly charts of the USD majors)<strong> </strong>\r\n\r\n<strong>EUR/USD: Closing Price 1.0801.</strong>\r\n\r\nWe are basically in quite a wide trading range. During the week I tried a short trade and was stopped out, believing that within the big range of 1.0460 to 1.1050 you could trade a mini range longer than a day.\r\n\r\nWe now have as seen on the chart below a really nice green candle. As you are well aware I am ultimately a USD bull. I see the opportunity to hit 100.00 on the DXY again as too much of a headline for the “algos” and market movers not to have a strike at again.\r\n\r\nHowever, I feel that we are probably going to test 1.1050 or near there first. There are around 1.1050 seven candle tips that offer great support/resistance. If ever there was a place to get short this is it. I may just set up a fresh RADAR TRADE around this level over the weekend, just to have in place once again. You know how squeezy these markets are at the moment.\r\n\r\nThe immediate support and resistance is probably 1.0740 to 1.0850.\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/EURUSD-W-19042015.png\"><img class=\"aligncenter size-large wp-image-5787\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/EURUSD-W-19042015-1024x517.png\" alt=\"EURUSD W 19042015\" width=\"1024\" height=\"517\" /></a>\r\n\r\n<strong> </strong>\r\n\r\n&nbsp;\r\n\r\n<strong>GBP/USD: Closing Price 1.4946</strong>.\r\n\r\nThis pair has moved up over 300 pips in the past week.\r\n\r\nLike other people, I was calling for this pair to move much lower, based upon the fact that we have a UK General Election inside three weeks.\r\n\r\nThe cable is probably one of, if not the worst, currency pair for taking out both sides of the market. I have watched on so many occasions the GBP/USD wipe out huge / mega support and resistance levels inside 24 hours and in so doing cleaning out all shorts and all longs in one fell swoop.\r\n\r\nThe reason I say this is that there is uncertainty in the UK and one should not believe the engulfing candle on the chart below. A weekly engulfing candle is huge for the “big hitters” like the FX banks and the large fund managers / institutional traders as they plan their trading week ahead.\r\n\r\nHowever, it is cable be careful. Nevertheless I am expecting a test of the 61.8% Fibonacci on the back of momentum trading alone and this is at 1.5180. This is assuming that we can break back above 1.5000.\r\n\r\nAs we start the week I see the trading range being 1.4850 to 1.5100.\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/GBPUSD-W-19042015.png\"><img class=\"aligncenter size-large wp-image-5786\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/GBPUSD-W-19042015-1024x517.png\" alt=\"GBPUSD W 19042015\" width=\"1024\" height=\"517\" /></a>\r\n\r\n&nbsp;\r\n\r\n<strong> </strong>\r\n\r\n<strong>AUD/USD: Closing Price 0.7773</strong>.\r\n\r\nThis pair is acting 100% opposite to my FUNDAMENTAL view of the Australian economy and how the RBA is viewing matters. Never fight a central bank (they have more money than you and they can print), so be careful long this pair it can snap back on commodity weakness and China in an instant.\r\n\r\nThe weekly chart below looks bullish, however we are heading up to the first barrier of resistance at 0.7850. Support is back at 0.7740.\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/AUDUSD-W-19042015.png\"><img class=\"aligncenter size-large wp-image-5788\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/AUDUSD-W-19042015-1024x517.png\" alt=\"AUDUSD W 19042015\" width=\"1024\" height=\"517\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n<strong>NZD/USD: Closing Price 0.7660</strong>.\r\n\r\nThe weekly chart below shows trend line resistance at 0.7740. This is where I believe the line in the sand is drawn for the Kiwi. Support initially this week is at 0.7630-35 then at 0.7580.\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/NZDUSD-W-19042015.png\"><img class=\"aligncenter size-large wp-image-5785\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/NZDUSD-W-19042015-1024x517.png\" alt=\"NZDUSD W 19042015\" width=\"1024\" height=\"517\" /></a>\r\n\r\n&nbsp;\r\n\r\n<strong>USD/CAD: Closing Price 1.2244.</strong>\r\n\r\nJust when you think that you have a really solid trading range - out pops a central bank governor at the same time as OIL spikes. The result was no better than USD/CAD (and all CAD pairs for that matter) decimated inside 4 hours of feverish buying of CAD dollars. Some spectacular moves took place.\r\n\r\nWe established a new bottom at 1.2075. Moving forward this will be support and resistance is now at 1.2350, which was the previous support that contained this pair for so long as evidenced by the weekly chart below.\r\n\r\n&nbsp;\r\n\r\n<strong><a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/USDCAD-W-19042015.png\"><img class=\"aligncenter size-large wp-image-5784\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/USDCAD-W-19042015-1024x517.png\" alt=\"USDCAD W 19042015\" width=\"1024\" height=\"517\" /></a> </strong>\r\n\r\n<strong> </strong><strong> </strong>\r\n\r\n<strong>USD/CHF: Closing Price 0.9508</strong>.\r\n\r\nI want to get long this pair. However, EUROZONE uncertainty surrounding GREECE and the CHF “safe trade” has me on the back foot.\r\n\r\nWe are stopped at the 38% retracement of the weekly move following the EUR/CHF peg removal earlier this year (see the weekly chart below). That in itself is quite a shallow retracement of the move but an acceptable one.\r\n\r\nI think we have to look at the EUR/USD for our lead with this pair. If the EUR/USD heads towards 1.1050 prior to reversing then this pair will drop further, maybe to the 50% or 61.8% retracement levels of 0.9300 and 0.9100 respectively.\r\n\r\nI hate to say this but keep this one on your RADAR for the coming week or two<strong>. </strong>I am tempted to place a LIMIT ORDER based around a 61.8% entry, as I feel the EUR/USD 1.1050 if touched, would then reverse quickly. I am not an advocate of picking tops or bottoms, but these levels are like “tractor beams” for the markets to aim at.\r\n\r\nFor this week however, assuming that the 38% level of support does NOT hold, support will be at 0.9480 and resistance at 0.9620.\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/USDCHF-W-19042015.png\"><img class=\"aligncenter size-large wp-image-5783\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/USDCHF-W-19042015-1024x517.png\" alt=\"USDCHF W 19042015\" width=\"1024\" height=\"517\" /></a>\r\n\r\n&nbsp;\r\n\r\n<strong> </strong>\r\n\r\n<strong> </strong>\r\n\r\n<strong>USD/JPY: Closing Price 118.88.</strong>\r\n\r\nNo change from last week. We are still in the same range (see weekly chart below).\r\n\r\nSupport at 115.60 and resistance at 122.00, however, we are starting to make a move towards the lower end of the range. I do not want to have everyone getting over excited but my thoughts are that with bond yield moving the pressure on the USD/JPY is intensifying and a move lower is inevitable if the correlation with U.S. treasuries sticks.\r\n\r\nThis could be a big week for the JPY.\r\n\r\nImmediate support is at 118.20 and resistance back at 119.50.\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/USDJPY-W-19042015.png\"><img class=\"aligncenter size-large wp-image-5782\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/USDJPY-W-19042015-1024x517.png\" alt=\"USDJPY W 19042015\" width=\"1024\" height=\"517\" /></a>\r\n\r\n&nbsp;\r\n<ol start=\"5\">\r\n	<li><strong><span style=\"text-decoration: underline;\"> THE CONCLUSION - MY FINAL THOUGHTS:</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...one less thing to worry about!\r\n\r\n<span style=\"text-decoration: underline;\">5.2 –TRADING TIPS &amp; THOUGHTS FOR THE WEEK AHEAD:</span>\r\n\r\nWe have a lot of geopolitical news hanging around so we must trade with tighter stops.\r\n\r\nGREECE is of major concern and any trades placed with EUR or CHF pairs should be monitored very closely. I would suggest that smaller position sizes and wider stops are used.\r\n\r\nOil and the continuing middle-east issues will keep the USD in check, as well Oil related currencies such as CAD, NOK and MXN.\r\n\r\nWe also have China data this week so that alerts us with regards to the AUD and NZD pairs.\r\n\r\nThe UK election places you on GBP alert.\r\n\r\nNow, which pairs have I not mentioned!!!!\r\n\r\nAh ha…. the JPY - U.S. treasuries need to be watched so that brings in the USD/JPY.\r\n\r\nSo there you have it, all currency pairs have potential red lights - you can’t trade - take the week off!\r\n\r\nBasically, we will trade. But we need to be aware of the factors around us that can affect pricing in an instant. Trade smaller with wider stops to cope with the volatility.\r\n\r\nWe will have opportunities to make $$$, we just have to be alert and careful.\r\n\r\nAs always, there will be trades to trade and there will be some great opportunities, please trade in line with your RISK MANAGEMENT parameters from your TRADING PLAN. If you do not have a TRADE PLAN, in my opinion, you should, as this will help you with consistency.\r\n<p style=\"text-align: center;\"><strong>Consistency = longevity in trading and that is a critical goal.\r\nIT IS THE KEY MEASUREMENT</strong></p>\r\nBefore you enter a trade work out the risk, price it in $$$. 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\nSunday April 19th 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<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 do','GREECE – JUST WAITING FOR THE FAT LADY TO SING!','','inherit','open','closed','','5797-revision-v1','','','2015-04-18 13:08:28','2015-04-18 18:08:28','',5797,'https://weeklyfxdrivethru.com/5797-revision-v1/',0,'revision','',0),(5799,1,'2015-04-18 13:11:35','2015-04-18 18:11:35','<p style=\"text-align: center;\"><strong>THE PREMIUM SERVICE\r\n</strong><strong>The Home of Single-Lot Trading\r\n</strong><strong style=\"line-height: 1.5;\">www.weeklyfxdrivethru.com</strong></p>\r\n<strong>DATE: 19.04.2015\r\nREFERENCE: #56\r\n</strong><strong>BLOG: THE PREMIUM SERVICE</strong>\r\n\r\n&nbsp;\r\n<ol>\r\n	<li><strong> INTRODUCTION - MY OVERVIEW OF THE FOREX MARKET:</strong></li>\r\n</ol>\r\n<span style=\"text-decoration: underline;\">LOOKING BACKWARDS, FORWARDS &amp; SIDEWAYS (FOR GOOD MEASURE) AT THE FX MARKET:</span>\r\n\r\n<span style=\"text-decoration: underline;\">1.1 - LOOKING BACKWARDS:</span>\r\n\r\nThere were three news events last week that I want to mention.\r\n\r\n<span style=\"text-decoration: underline;\">ECB – RATE STATEMENT:</span>\r\n\r\nIn my opinion one of the most boring ECB Press Conferences in history, well, at lease since I started trading. The real excitement was the female protestor jumping onto the front desk covering Draghi in confetti.\r\n\r\nIn recent weeks EUROZONE data has been improving so Draghi had an easy ride for a change. He was bullish on the following points: -\r\n<ul>\r\n	<li>The cyclical recovery in the euro area has strengthened.</li>\r\n	<li>The Asset Purchase program has been successful.</li>\r\n	<li>The program is flexible and will run until September 2016, or until there is a sustained increase in inflation.</li>\r\n	<li>The ECB has no difficulties in finding bonds to purchase.</li>\r\n	<li>Any concerns about bond scarcity are “premature”.</li>\r\n	<li>ECB exposure to GREECE is €110 billion (largest to any EUROZONE member).</li>\r\n</ul>\r\nFrom a trading perspective, I took nothing new from this statement at all. My FUNDAMENTAL views relating to the EUROZONE have not altered.\r\n\r\n<span style=\"text-decoration: underline;\">BOC MEETING MINUTES:</span>\r\n\r\nBy comparison to the ECB meeting, Stephen Poloz, BOC Governor was quite HAWKISH in his comments. This sent the USD/CAD into a tailspin lower taking out support after support level. The fact that WTi was rallying at the same time further exacerbated the strength of the CAD and the entire cross rates fell as well.\r\n\r\nThe crosses have made modest recoveries since last Wednesday and look very oversold, but as the CAD currency appears to be treated like the MXN and NOK as a proxy for the OIL price, it is moves in Oil that seem to dictate the direction of the USD/CAD.\r\n\r\nMoving forward, I think we treat the CAD as we have for the past few weeks. OIL up the CAD strengthens…OIL down the CAD weakens…\r\n\r\nThe entire CAD related pairs look great buys at these low levels. Check out the charts later (section 4.5), I am thinking of a couple of smaller position sized lower risk trades.\r\n\r\nThe one aspect about the Forex market is that there are always opportunities, but the risks have to be managed.\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">CHINA GDP:</span>\r\n\r\nChina GDP printed at 7%.\r\n\r\nA few years ago if this number were printed there would have been an almighty reaction and comments about the end of the world would have featured in the press. I was a little surprised that we did not get much of a follow through with the AUD and NZD currencies after this data release.\r\n\r\nIt is so strange now; news is reacted to and then just forgotten so quickly.\r\n\r\nIt has been such a long time since I have written we are either in a RISK OFF or RISK ON environment. The currency wars have really stopped all this. The “rock star” central bank presidents and governors have taken so much joy out of trading.\r\n\r\nThe CHINA data represents weakening in the “sweat room” of the world, and, people such as Mark Faber (Doom, Gloom and Boom report), actually believe the true China GDP figure is closer to 5%; who knows?\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">GEOPOLITICAL EVENTS:</span>\r\n<ol>\r\n	<li><span style=\"text-decoration: underline;\"> GREECE:</span></li>\r\n</ol>\r\nThe GREECE situation is just not going to go away.\r\n\r\nIn my opinion, the negative comments about the Greek negotiations made by Wolfgang Schaeuble, the German Finance minister, acted only to fan the flames and frankly I believe the whole subject would be better served if he kept his “GOB” firmly closed. He may be Merkel’s mouthpiece, pit bull or assassin of hope, however, his comments and negativity are just draining on the whole subject. Frankly, he has reached the point when I no longer look to his comments for inspiration; it is now more of a case of what has that silly old bastard said now!!\r\n\r\nI am writing about GREECE later and will revisit this again; I will NOT be able to stop my self for any repetition. I apologise in advance.\r\n<ol start=\"2\">\r\n	<li><span style=\"text-decoration: underline;\"> OIL – YEMEN – IRAN:</span></li>\r\n</ol>\r\nNo change it is now becoming a real humanitarian issue. It is a case of over there rather than over here and OIL is getting through, so no-one real has it high on their agendas.\r\n\r\nThis is just getting messier by the day. I cannot see an end game here in the short-term.\r\n\r\nThe IRAN nuclear issue has gone quiet again over the matter of trust. Nothing new with this one, no one trusts anyone. What a great world we live in.\r\n\r\nFrom a trading perspective, OIL supplies are not threatened\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">1.2 - LOOKING FORWARDS:</span>\r\n\r\n<span style=\"text-decoration: underline;\">MAJOR FOREX NEWS THIS WEEK THAT INTERESTS ME:\r\n</span>(There are many more news items related to the Forex Market than the ones listed below. These are the ones that interest me. You can go to <a href=\"http://www.forexfasctory.com\">www.forexfactory.com</a> and <a href=\"http://www.tradingeconomics.com\">www.tradingeconomics.com</a> for more comprehensive lists of all news events that are Forex related).\r\n\r\nSUNDAY: NZD - CPi.\r\nSUNDAY: CNY – HSBC Flash Manufacturing PMI\r\n\r\nMONDAY: EUR – German &amp; French Manufacturing PMi.\r\nMONDAY: AUD – Monetary Policy Meeting Minutes.\r\n\r\nTUESDAY: EUR – German ZEW Economic Sentiment.\r\nTUESDAY: AUD - CPi.\r\n\r\nWEDNESDAY: N/A.\r\n\r\nTHURSDAY: N/A.\r\n\r\nFRIDAY: N/A.\r\n\r\n<span style=\"text-decoration: underline;\">MY THOUGHTS:</span>\r\n\r\nFrom my interest viewpoint, it looks like a very light week on economic data.\r\n\r\nI have a feeling however, that we will have a busy week with GREECE. So this will not be a time to do spring gardening, decorating etc.…\r\n\r\nI may be able to move my trading to the terrace if the weather holds up but I am expecting some twists and turns and no doubt some irrational squeezes in the coming week just to piss me off!!\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">CHINA:</span>\r\n\r\nBe prepared for the possibility of strong sell-offs in equities in the coming week. It appears that the authorities in China are about to actively support “short-selling” of equities in a big way\r\n\r\nI wrote last week that over a million new trading accounts per month were being added to China brokerages and basically, all this means is that the new “players” buy, buy and buy some more.\r\n\r\nIt does appear that the bubble conscious authorities in China have suddenly realized the monster that has been created and now they are going to act by supporting “short-selling”.\r\n\r\nBear this in mind because no matter how much of a heads up we have this will affect currencies.\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">1.3 - LOOKING SIDEWAYS (FOR GOOD MEASURE):\r\n</span>\r\n\r\n<span style=\"text-decoration: underline;\">FOREX MARKET CONDITIONS:</span>\r\n\r\nDare I say it, but we had a 48-hour period of reasonable normality in the markets. Correlations came into sync and we were able to trade with relative confidence given that we had a backdrop of geopolitical tensions dotted here and there.\r\n\r\nOne factor that is resonating more and more with me is “King USD”. It is still the flight to safety when all things matter.\r\n\r\nHow the market treats the USD, pretty much dominates all things Forex. Let me elaborate a little.\r\n\r\nThe China GDP print at 7% was a devastating number in particular for the AUD and NZD, as expected they weakened across the board. However, within 36 hours the AUD/USD and NZD/USD were breaking new trend highs on the back of USD weakness.\r\n\r\nAs a FUNDAMENTAL trader first, then TECHNICAL, this is extremely difficult for me to initially deal with and my first reaction is caution in the sense of do not believe the move. The markets are what they are and there is very little logic at times, I suppose this is what makes the Forex market so interesting, but at the same time annoying to trade.\r\n\r\nIn 2014, I found myself trading less and being in trades longer. This year the markets are so “skittish” I am trading more for less income per trade.\r\n\r\nI know that I am not alone in this and I am also advised from PREMIUM SERVICE subscribers, that as a result in 2015, trading conditions compared to 2014 showed that the swings in account balances have been greater than ever. Two or three good days are then followed by a bad day. This is something that I am trying my best to eradicate but unfortunately it very difficult.\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">FOREX LIQUIDITY:\r\n</span>(This short segment was in last week’s blog. It is so relevant to matters now I have left it in this week as well so that new readers can capture the content)\r\n\r\nI read in the Financial Times last week that the Forex Market, which is now a USD$5.3 trillion a day on average marketplace, has a problem (Over the past few weeks I have been moaning about too many squeezes and weird market trading conditions).\r\n\r\nIt appears the mechanics of the market have been drawn into question. Is there a decline, or cyclical decline in Forex trading? I would say that it was noted recently that some of the banks who traded Forex were cutting back after taking some heavy losses.\r\n\r\nWithout doubt greater regulation in the banking industry is weeding out the “under the counter cheating” that took place and is becoming very quickly a trait of the past. I know for a fact that thousands of retail traders left after the SNB. Over leveraged accounts were wiped out.\r\n\r\nWithout doubt we see much larger volatile moves and if you are caught the wrong way it can be very painful.\r\n\r\nTo cover this volatility many of the banks have widened the spreads offered to their supporting brokers. This has resulted in many retail traders closing their accounts and no longer trading FOREX. Without doubt if banks lose money they will protect themselves and they will have a lower risk appetite. I think I wrote that in February this year daily volumes compared with January were lower by 16%. This is a significant number.\r\n\r\nAs if we do not have enough to consider, we now have a permanent liquidity fear if one of the major FX banks is absent from the market for a few moments…. just brilliant… just great.\r\n\r\nForex trading is an evolving market and is going through changes. All we can do is get the head down, look for high probability trades, set the best stops we can based on our RISK TOLERANCES and trade.\r\n\r\nLike so many of you, I still find trading conditions quite difficult. I seem to be moving forwards and then backwards to move forwards again. It is very, very frustrating.\r\n\r\nThe PREMIUM SERVICE still moves forward in these sticky / changing conditions, so I am obviously delighted. It is much harder than last year but we still move forwards despite all that is thrown in our direction.\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<strong>GREECE – </strong><strong>JUST WAITING FOR THE FAT LADY TO SING!</strong>\r\n\r\nOf late there has been so much written, and so much speculation in the media on this topic. Frankly when I wrote my article in the blog dated April 5<sup>th</sup> “Does Merkel Have The Balls To Risk A Contagion”, deep down I thought that when push comes to a shove that Germany would back down.\r\n\r\nRecent comments from Merkel’s “Pit-bull”, Wolfgang Schaeuble (German Finance Minister), would indicate that the Germans are prepared for a GREXIT. Without doubt on May 1<sup>st</sup> and May 12<sup>th</sup> the Greek government has payments due to the IMF totaling €200 million and €763 million respectively and I just cannot see these payments being made given the current set of circumstances.\r\n\r\nWe therefore, will have a default on our hands.\r\n\r\nWhat does this mean for GREECE and the EUROZONE?\r\n\r\nFor GREECE, it would be devastating. Already I have read about Greek importers having credit lines removed from suppliers who originate outside of GREECE. All imports have to be paid in full prior to shipment.\r\n\r\nEarlier last week there was a leaked IMF document that showed that calculations on the Tax and Income effect from changes requested by the Trioka were incorrectly calculated. The relationship between changes in direct and indirect tax when added to a reduction in government spending and the effect that this would have on GDP were not calculated accurately. These Fiscal Multipliers that form the benchmark of a governments annual accounts were screwed and no matter what GREECE was able to do it would never be enough.\r\n\r\nThe alleged long-term solution was so drastic it set GREECE back instead of allowing a gradual move forward. A situation that would take effectively decades to fix was fixed at a stroke of a pen overnight…. or not as the case is.\r\n\r\nI read only a few days ago in passing that even if GREECE had a GDP rate of 10% per annum for the next 5 years they would still be no better off and could not effectively manage.\r\n\r\nWhat is the point of a bailout for a country that simply cannot pay at any price?\r\n\r\nGreek debt totals about €323 billion. Of this total about €15 billion is held by Greek banks and a further €246 billion by the ECB and other EUROZONE banks.\r\n\r\nAnyone who says that a Greek default would not really affect the EUROZONE and in fact the EUROZONE would be stronger without GREECE, needs to grab the concept of market uncertainty and contagion.\r\n\r\nFor the EUROZONE, the financial numbers will create market uncertainty and whilst they would be considered somewhat nominal, there would be a negative effect.\r\n\r\nThe bigger risk however is contagion. If a GREXIT occurs, every far right party and every anti-Europe, anti-Brussels party in the EUROZONE would be on RED alert. If GREECE can return to the Drachma we will go back to whatever….\r\n\r\nThis is the contagion risk that could break up the EUROZONE, as we know it today. It could happen. Very few people in the EUROZONE actually voted for the single-currency. There could be fireworks ahead.\r\n\r\nSo what happens next, if GREECE defaults? By the way, there is NO SUCH THING AS AN ORDERLY DEFAULT. You can be prepared but you will not know when it will happen. Here are some possible scenarios:\r\n<ol>\r\n	<li>The Athens government in Greece announces capital controls.</li>\r\n	<li>GREECE issues basically IOU’s to pay for essential services.</li>\r\n	<li>The Drachma is re-introduced and operates alongside the EUR until the EUR is totally withdrawn.</li>\r\n	<li>There is huge confusion over the potential value of the Drachma versus the EUR and people are reluctant to hold the new currency. This creates a potential run on the banks probably across parts of Europe, in particular the periphery. In GREECE capital controls basically freeze accounts and only Drachmas can be withdrawn.</li>\r\n	<li>Possible Capital Controls in other periphery countries banks as rumours of more potential exits of the EUROZONE hit the newswires and the populations around the EUROZONE see how GREECE coped, or didn’t with the transfer.</li>\r\n	<li>Emergency ECB measures on movement of monies throughout the EUROZONE.</li>\r\n	<li>Emergency ECB measures for EUROZONE state banks to hold monies overnight.</li>\r\n	<li>ECB bank guarantees bank deposits throughout the EUROZONE.</li>\r\n	<li>The EUR/USD is now sub-parity towards 0.9600.</li>\r\n	<li>Huge uncertainty in GREECE as the Greek people protest riots in Athens.</li>\r\n	<li>The blame game between Athens and the EUROGROUP reaches new levels over who didn\'t trust whom, causing political uncertainty in other EUROZONE countries. Stability is threatened.</li>\r\n	<li>We have a contagion effect.</li>\r\n</ol>\r\nIf there is an eleventh hour solution it will probably be yet another fudge by Merkel to buy time so that the EUROZONE central banks can offload a potential future Greek default situation into the ECB.\r\n\r\nPersonally, I think that the Greek government knows what they are going to do and are scheduling an emergency timetable to minimalize all the risks associated with a default.\r\n\r\nI wrote a few weeks ago about trust within the relationships in the EUROZONE, not just the trust issues that are so apparent between GREECE and GERMANY but within the other relationships that exist. The EUROZONE is the name given to the countries within the EUROPEAN UNION that adopt the single currency. However the entire area of Europe with all partners is called the EUROPEAN UNION, this encompasses members who do not use the single currency such as the UK, Sweden, Norway and Denmark. The UNION stands out…”UNION my arse”, most issues inside EUROPE are so far away from a UNION status it re-defines the word.\r\n\r\nI am amazed at the market complacency surrounding this and the EUR/USD trading above 1.0800, I just cannot fathom.\r\n\r\nI cannot see a way out other than a GREXIT and the on-going contagion games will begin. Whilst you cannot attribute blame to GREECE for this mess the EUROGROUP and TRIOKA are equally at fault with setting financial goals, objectives and measures that the Greek economy could not support in anyway shape or form\r\n\r\nNow we have the “Pit-bull” (Schaeuble) acting out a modern Pontius Pilate routine in front of the world’s media. It is a bloody disgrace how GREECE got here, but my God what a UNION!!!\r\n\r\nI await the Reuters feed soon with the news.\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 and SUBSCRIPTION PRICING:</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<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/PS-SUBSCRIPTION-COSTS-05042015.png\"><img class=\"aligncenter size-full wp-image-5668\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/PS-SUBSCRIPTION-COSTS-05042015.png\" alt=\"PS SUBSCRIPTION COSTS 05042015\" width=\"380\" height=\"473\" /></a>\r\n\r\n<span style=\"text-decoration: underline;\">COMING SOON - SILVER &amp; GOLD - PREMIUM SERVICE MEMBER STATUS:</span>\r\n\r\nRegular readers will be aware that during the past couple of months I have been upgrading speeds and revising content and deliverables within the PREMIUM SERVICE.\r\n\r\nAll of my subscribers were contacted for views about the potential changes and ideas moving forward. Many items have been addressed already, but, others require additional work “behind the scenes” to implement.\r\n\r\nOne of the suggestions was create a two-tier approach to the subscription of the PREMIUM SERVICE.\r\n\r\nBasically this is what is proposed and on the table: -\r\n\r\n<span style=\"text-decoration: underline;\">GOLD MEMBER STATUS:</span>\r\n<ul>\r\n	<li>100% access to the PREMIUM SERVICE website.</li>\r\n	<li>A dedicated exclusive twitter feed for GOLD subscribers only @ThePremService.</li>\r\n	<li>All trade set-ups communicated via Twitter and RADAR and FUNDAMENTAL trades additionally via email when possible.</li>\r\n	<li>The WEEKLY FX DRIVE THRU (access to the full and complete version) delivered weekly via an emailed PDF, and, viewable on line inside the PREMIUM SERVICE secure section of <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a></li>\r\n	<li> My thoughts and comments on market conditions via twitter.</li>\r\n</ul>\r\nSubscriptions costs remain as they are (see above) and all existing PREMIUM SERVICE subscribers are all at GOLD MEMBER status.\r\n\r\n<span style=\"text-decoration: underline;\">SILVER MEMBER STATUS:</span>\r\n<ul>\r\n	<li>A new dedicated exclusive twitter feed for SILVER subscribers only (TBA).</li>\r\n	<li>Limited access to the PREMIUM SERVICE website (trade information only).</li>\r\n	<li>The WEEKLY FX DRIVE THRU (the restricted version) delivered weekly via an emailed PDF and viewable online at <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a></li>\r\n</ul>\r\nSubscription costs for SILVER members will be advised soon. I am hoping to launch this within the next two / three weeks\r\n\r\n<span style=\"text-decoration: underline;\">3.2 - SUMMARY OF PERFORMANCE:</span>\r\n\r\n(Only the excel spreadsheets will now be shown in this section. References to previous, present and future trades “LAST WEEK’s TRADING REVIEW” will now be provided solely for the benefit of PREMIUM SERVICE subscribers and has been moved into section 4).\r\n\r\n<span style=\"text-decoration: underline;\">3.2.1 – PREMIUM SERVICE – COST INCOME ANALYSIS:\r\n</span>\r\n<p style=\"text-align: center;\"><strong>EMANATING FROM TRADE SET-UPS - 2015 to date:</strong></p>\r\n<p style=\"text-align: center;\"><span style=\"text-decoration: underline;\">MICRO LOT TRADER</span> - 258 trades cost to trade = $25.80\r\n<strong>PROFIT</strong> from 258 trades = <strong><span style=\"text-decoration: underline;\">$363.00</span></strong></p>\r\n<p style=\"text-align: center;\"><span style=\"text-decoration: underline;\">MINI LOT TRADER</span> - 258 trades cost to trade = $258.00\r\n<strong>PROFIT</strong> from 258 trades = <strong><span style=\"text-decoration: underline;\">$3,630.00</span></strong></p>\r\n<p style=\"text-align: center;\"><span style=\"text-decoration: underline;\">STANDARD LOT TRADER</span> - 258 trades cost to trade = $2,580.00\r\n<strong>PROFIT</strong> from 258 trades = <strong><span style=\"text-decoration: underline;\">$36,300.00</span></strong></p>\r\n<p style=\"text-align: center;\"><strong><span style=\"text-decoration: underline;\">PLEASE NOTE:</span></strong></p>\r\n<p style=\"text-align: center;\"><span style=\"color: #0000ff;\">If this sort of risk/reward income opportunity interests you:</span>\r\n<span style=\"color: #0000ff;\">To join the PREMIUM SERVICE at the introductory level subscribe to the initial</span>\r\n<span style=\"color: #0000ff;\">4 week subscription and receive a 5<sup>th</sup> week FREE!!</span>\r\n<span style=\"color: #0000ff;\">See the PROMOTIONS tab on my landing page at</span>\r\n<span style=\"color: #0000ff;\">www.weeklyfxdrivrethru.com</span></p>\r\n<span style=\"text-decoration: underline;\">3.2.2 - PREMIUM SERVICE - PROFIT/LOSS RATIOS:</span>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/PROFIT-LOSS-RATIO-19042015.png\"><img class=\"aligncenter size-full wp-image-5771\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/PROFIT-LOSS-RATIO-19042015.png\" alt=\"PROFIT-LOSS RATIO 19042015\" width=\"424\" height=\"586\" /></a>\r\n\r\n<span style=\"text-decoration: underline;\">3.2.3 - PREMIUM SERVICE - RISK/REWARD ANALYSIS:</span>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/RISK-REWARD-19042015.png\"><img class=\"aligncenter size-full wp-image-5772\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/RISK-REWARD-19042015.png\" alt=\"RISK-REWARD 19042015\" width=\"436\" height=\"555\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">3.2.4 - PREMIUM SERVICE - OVERALL TRADE SUMMARY MONTH &amp; YTD:</span>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/REM-SERV-PROFITS-1-19042015.png\"><img class=\"aligncenter size-full wp-image-5773\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/REM-SERV-PROFITS-1-19042015.png\" alt=\"REM SERV PROFITS 1 19042015\" width=\"461\" height=\"435\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/PREM-SERV-PROFITS-2-19042015.png\"><img class=\"aligncenter size-full wp-image-5774\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/PREM-SERV-PROFITS-2-19042015.png\" alt=\"PREM SERV PROFITS 2 19042015\" width=\"472\" height=\"421\" /></a>\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.)<strong> </strong>\r\n<p style=\"text-align: center;\"><strong>HOW MUCH TRADING CAPITAL DO YOU NEED FOR FOREX TRADING?</strong></p>\r\nIt takes money to make money.\r\n\r\nYou need <strong>Trading Capital</strong>. Everyone knows that, but how much does one need to get started in Forex trading? The answer largely depends on how you are going to approach your new start-up business.\r\n\r\n<strong>FIRST</strong>: consider how you are going to be educated. There are many different approaches to learning how to trade: classes, mentors, on your own, or any combination of the three.\r\n\r\nWhile there are many classes and mentors out there willing to teach Forex trading, most will charge a fee. The benefit of this route is that a well taught class or great mentor can significantly shorten your learning curve and get you on your way to profitability in a much shorter amount of time in comparison to doing it all by yourself.\r\n\r\nThe downside is the upfront cost for these programs, which can range from a few hundred to a few thousand dollars; depending on which program you go with. For many of those new to trading, the resources (money) required to purchase these programs are not available.\r\n\r\nFor those of you unable or unwilling to pony up the cash for education, the good news is that most of the information you need to get started can be found for FREE on the Internet through forums, brokers, articles and some websites.\r\n\r\nAs long as you are disciplined and laser focused on learning the markets, your chances of success increase exponentially. You have to be a gung ho student, if not you will end up n the poor house.\r\n\r\n<strong>SECOND</strong>: is your approach to the markets going to require special tools such as news feeds or charting software? As a technical Forex trader, most of the charting packages that come with your broker’s trading platform are sufficient (and some are actually quite good).\r\n\r\nFor those who need special indicators or better functionality, higher end charting software can start at around $100 a month.\r\n\r\nMaybe you are a Fundamental trader and you need the news the millisecond it is released.\r\n\r\nWell, instantaneous and accurate news feeds can run to a few thousand dollars per month. Again, you can get complimentary news feed from your Forex broker, but for some, that extra second or two can be the difference between a profitable or unprofitable trade.\r\n\r\n<strong>FINALLY:</strong> you need money/capital/funds to trade. Retail Forex brokers offer minimum account deposits as low as $25, but that doesn’t mean you should enter immediately. This is a capitalization mistake, which often leads to failure. Loses are part of trading, and you need to have enough capital to weather losses.\r\n\r\nSo how much trading capital do you need?\r\n\r\nIdeally, more than $50,000, but lets be honest it really depends on what type of trader you are and how often you will be looking at the computer plus how much can you afford to lose?\r\n\r\nBelow are the gross income data and other supporting data generated by the PREMIUM SERVICE in 2014.\r\n\r\n&nbsp;\r\n<p style=\"text-align: center;\"><strong><span style=\"text-decoration: underline;\">PREMIUM SERVICE 2014</span></strong></p>\r\n<p style=\"text-align: center;\">2014 completed TOTAL TRADES = 512</p>\r\n<p style=\"text-align: center;\"><strong>MICRO LOT TRADING\r\n</strong>Single-Lot trades cost $0.10 cents each\r\n512 trades cost to trade $51.20 income generated $1,120.90.</p>\r\n<p style=\"text-align: center;\"><strong>MINI LOT TRADING\r\n</strong>Single-Lot trades cost $1.00 each\r\n512 trades cost to trade $512.00 income generated $11,209.00</p>\r\n<p style=\"text-align: center;\"> <strong>STANDARD LOT TRADING\r\n</strong>Single-Lot trades cost $10.00 each\r\n512 trades cost to trade $5,120.00 income generated $112,100.00</p>\r\n<p style=\"text-align: center;\">From my perspective in 2015 the monies required to operate a: -</p>\r\n<p style=\"text-align: center;\"><strong>MICRO LOT</strong> ACCOUNT you need up to $5,000.00</p>\r\n<p style=\"text-align: center;\"><strong>MINI LOT</strong> ACCOUNT from a minimum of $5,000.00 to $20,000.00</p>\r\n<p style=\"text-align: center;\"><strong>STANDARD LOT</strong> ACCOUNT above $20,000.00</p>\r\n<p style=\"text-align: center;\"><strong>(Please note that in all cases RISK &amp; MONEY MANAGEMENT skills need to be adopted and a TRADING PLAN should be used)</strong></p>\r\n&nbsp;\r\n\r\nIt is common knowledge that most businesses fail due to under capitalization, which is especially true in the Forex trading business.\r\n\r\nI know that many people will say a minimum of $50,000.00 is required, but in the real world this is simply NOT always feasible as not everybody has access to that amount of money. I have proven that with single-lot trading you can make money from Forex Trading with smaller balances using trade disciplines.\r\n\r\n<strong> </strong>\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">4.2 – THE PREMIUM SERVICE – TRADING REVIEW:</span>\r\n\r\nThere are a few things that I want to talk about this week.\r\n\r\nFirstly, finally for 2015, my ratio between positive and negative trades has finally improved. I had written many times this year that the markets were less forgiving than usual and the volatility was at times very constraining to trade effectively.\r\n\r\nThe number of completed trades in 2015 is greater than at this period last year and the profit loss ratios are not as good as 2014. At least this would appear to be the start of this correction. This month so far it is 77% - 23% positive to negative trades and the year to date is 71% - 29%. It will take time but I hope to achieve my goal of 80% -20%.\r\n\r\nSecondly, my average income per completed trade is much lower than 2014. In 2014 my average pip gain per trade was 22, this year to date it is 14. I know after speaking with my “inner circle peer group” this week, everyone has lower pip gains per completed trade this year versus 2014. Nevertheless, I want to improve on this. I fully understand I can only deal with what the market gives me and now I am more of a day trader than position trader as per my normal trading outlook; however, I do want to move the bar higher in this regard.\r\n\r\nThirdly, at long last all trade types are now positive for the year.\r\n\r\nFourthly, some of you will notice that I am now back trading JPY pairs. Fundamentally, I think that JPY strength will become a feature in the Forex market, in particular, from Q2 this year. This appetite for RISK is waning a little. I see this through the lack of correlation on the JPY to equities.\r\n\r\nThe USD/JPY, whilst range bound is moving lower. Whilst one can argue, this is because of its unique relationship to the U.S. 10 year bond yields (/ZN#0), as the bond moves higher, the yields move lower and so does the USD/JPY. But in addition, the USD/JPY relationship with equities has become suspect. To support this, the AUD/JPY (the ultimate correlated trade to the S&amp;P) has been very close, touching and almost breaking a six-year trend line lower. Should this happen, and we are now only 150 pips away from this happening there will be a serious RISK OFF move.\r\n\r\nAs I wrote earlier, I cannot recall the last time that I really mentioned RISK OFF or RISK ON in the blog.\r\n\r\nFinally, be prepared should we have a RISK OFF scenario; we will be over the commodity cross rate pairs like a rash.\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">4.3 - THE PREMIUM SERVICE - EXISTING LIVE TRADES:</span>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/PS-LIVE-TRADES-19042015.png\"><img class=\"aligncenter size-full wp-image-5780\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/PS-LIVE-TRADES-19042015.png\" alt=\"PS LIVE TRADES 19042015\" width=\"720\" height=\"504\" /></a>\r\n\r\n<span style=\"text-decoration: underline;\">4.4 - THE PREMIUM SERVICE – EXISTING LIMIT ORDERS:</span>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/PS-LIMIT-ORDERS-19042015.png\"><img class=\"aligncenter size-full wp-image-5795\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/PS-LIMIT-ORDERS-19042015.png\" alt=\"PS LIMIT ORDERS 19042015\" width=\"716\" height=\"411\" /></a>\r\n\r\n&nbsp;\r\n\r\nThere are three trades RT373, RT374 and RT375 listed on the spreadsheet. These are trades that will be placed with my brokers around the market open later. I will confirm once they have been loaded.\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 20%-25% 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. In addition, I have added some detail on my HEDGING approach as well to the second FUNDAMENTAL TRADE alert page. More detailed information on HEDGING can be found inside the PREMIUM SERVICE website under the EDUCATION tab – Trading Essentials.\r\n\r\nI view the commodity cross-rate pairs, which form the basis of my FUNDAMENTAL TRADE SET-UPS as bonus trades away from the USD majors and over the year they can be very profitable. This is why I have a separate broker account for commodity cross-RATE PAIR trades. It gives me an immediate measurement of performance without the need to extrapolate data.\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">4.5 - POTENTIAL TRADES - WHAT CHARTS AM I LOOKING AT?</span>\r\n\r\n(This section usually contains charts mainly relating to non-USD majors, 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. If there are no comments beneath the charts, my comments / thoughts are written on them directly. I will tweet and email as soon as these possible trades become LIMIT ORDERS)\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">THIS WEEKS OVERVIEW:</span>\r\n\r\nThere are quite a few charts this week. My comments are on the charts for reference purposes. This week there are USD majors on smaller minute charts included in this section.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/RT375-AUDJPY-240M-19042015.png\"><img class=\"aligncenter size-large wp-image-5789\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/RT375-AUDJPY-240M-19042015-1024x517.png\" alt=\"RT375 AUDJPY 240M 19042015\" width=\"1024\" height=\"517\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/RT374-EURJPY-240M-19042015.png\"><img class=\"aligncenter size-large wp-image-5790\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/RT374-EURJPY-240M-19042015-1024x517.png\" alt=\"RT374 EURJPY 240M 19042015\" width=\"1024\" height=\"517\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/RT373-EURUSD-240M-19042015.png\"><img class=\"aligncenter size-large wp-image-5791\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/RT373-EURUSD-240M-19042015-1024x517.png\" alt=\"RT373 EURUSD 240M 19042015\" width=\"1024\" height=\"517\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/NZDUSD-240M-19042014.png\"><img class=\"aligncenter size-large wp-image-5792\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/NZDUSD-240M-19042014-1024x517.png\" alt=\"NZDUSD 240M 19042014\" width=\"1024\" height=\"517\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/GBPNZD-240M-19042015.png\"><img class=\"aligncenter size-large wp-image-5793\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/GBPNZD-240M-19042015-1024x517.png\" alt=\"GBPNZD 240M 19042015\" width=\"1024\" height=\"517\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/GBPAUD240M-19042015.png\"><img class=\"aligncenter size-large wp-image-5794\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/GBPAUD240M-19042015-1024x517.png\" alt=\"GBPAUD240M 19042015\" width=\"1024\" height=\"517\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">4.6 - 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&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/PS-TRENDING-PAIRS-19042015.png\"><img class=\"aligncenter size-full wp-image-5781\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/PS-TRENDING-PAIRS-19042015.png\" alt=\"PS TRENDING PAIRS 19042015\" width=\"401\" height=\"527\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">4.7 - THE KEY SUPPORT &amp; RESISTANCE LEVELS WITH THE USD MAJORS</span><strong><span style=\"text-decoration: underline;\">:\r\n</span></strong>(The reviews in the section are accompanied with weekly charts of the USD majors)<strong> </strong>\r\n\r\n<strong>EUR/USD: Closing Price 1.0801.</strong>\r\n\r\nWe are basically in quite a wide trading range. During the week I tried a short trade and was stopped out, believing that within the big range of 1.0460 to 1.1050 you could trade a mini range longer than a day.\r\n\r\nWe now have as seen on the chart below a really nice green candle. As you are well aware I am ultimately a USD bull. I see the opportunity to hit 100.00 on the DXY again as too much of a headline for the “algos” and market movers not to have a strike at again.\r\n\r\nHowever, I feel that we are probably going to test 1.1050 or near there first. There are around 1.1050 seven candle tips that offer great support/resistance. If ever there was a place to get short this is it. I may just set up a fresh RADAR TRADE around this level over the weekend, just to have in place once again. You know how squeezy these markets are at the moment.\r\n\r\nThe immediate support and resistance is probably 1.0740 to 1.0850.\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/EURUSD-W-19042015.png\"><img class=\"aligncenter size-large wp-image-5787\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/EURUSD-W-19042015-1024x517.png\" alt=\"EURUSD W 19042015\" width=\"1024\" height=\"517\" /></a>\r\n\r\n<strong> </strong>\r\n\r\n&nbsp;\r\n\r\n<strong>GBP/USD: Closing Price 1.4946</strong>.\r\n\r\nThis pair has moved up over 300 pips in the past week.\r\n\r\nLike other people, I was calling for this pair to move much lower, based upon the fact that we have a UK General Election inside three weeks.\r\n\r\nThe cable is probably one of, if not the worst, currency pair for taking out both sides of the market. I have watched on so many occasions the GBP/USD wipe out huge / mega support and resistance levels inside 24 hours and in so doing cleaning out all shorts and all longs in one fell swoop.\r\n\r\nThe reason I say this is that there is uncertainty in the UK and one should not believe the engulfing candle on the chart below. A weekly engulfing candle is huge for the “big hitters” like the FX banks and the large fund managers / institutional traders as they plan their trading week ahead.\r\n\r\nHowever, it is cable be careful. Nevertheless I am expecting a test of the 61.8% Fibonacci on the back of momentum trading alone and this is at 1.5180. This is assuming that we can break back above 1.5000.\r\n\r\nAs we start the week I see the trading range being 1.4850 to 1.5100.\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/GBPUSD-W-19042015.png\"><img class=\"aligncenter size-large wp-image-5786\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/GBPUSD-W-19042015-1024x517.png\" alt=\"GBPUSD W 19042015\" width=\"1024\" height=\"517\" /></a>\r\n\r\n&nbsp;\r\n\r\n<strong> </strong>\r\n\r\n<strong>AUD/USD: Closing Price 0.7773</strong>.\r\n\r\nThis pair is acting 100% opposite to my FUNDAMENTAL view of the Australian economy and how the RBA is viewing matters. Never fight a central bank (they have more money than you and they can print), so be careful long this pair it can snap back on commodity weakness and China in an instant.\r\n\r\nThe weekly chart below looks bullish, however we are heading up to the first barrier of resistance at 0.7850. Support is back at 0.7740.\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/AUDUSD-W-19042015.png\"><img class=\"aligncenter size-large wp-image-5788\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/AUDUSD-W-19042015-1024x517.png\" alt=\"AUDUSD W 19042015\" width=\"1024\" height=\"517\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n<strong>NZD/USD: Closing Price 0.7660</strong>.\r\n\r\nThe weekly chart below shows trend line resistance at 0.7740. This is where I believe the line in the sand is drawn for the Kiwi. Support initially this week is at 0.7630-35 then at 0.7580.\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/NZDUSD-W-19042015.png\"><img class=\"aligncenter size-large wp-image-5785\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/NZDUSD-W-19042015-1024x517.png\" alt=\"NZDUSD W 19042015\" width=\"1024\" height=\"517\" /></a>\r\n\r\n&nbsp;\r\n\r\n<strong>USD/CAD: Closing Price 1.2244.</strong>\r\n\r\nJust when you think that you have a really solid trading range - out pops a central bank governor at the same time as OIL spikes. The result was no better than USD/CAD (and all CAD pairs for that matter) decimated inside 4 hours of feverish buying of CAD dollars. Some spectacular moves took place.\r\n\r\nWe established a new bottom at 1.2075. Moving forward this will be support and resistance is now at 1.2350, which was the previous support that contained this pair for so long as evidenced by the weekly chart below.\r\n\r\n&nbsp;\r\n\r\n<strong><a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/USDCAD-W-19042015.png\"><img class=\"aligncenter size-large wp-image-5784\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/USDCAD-W-19042015-1024x517.png\" alt=\"USDCAD W 19042015\" width=\"1024\" height=\"517\" /></a> </strong>\r\n\r\n<strong> </strong><strong> </strong>\r\n\r\n<strong>USD/CHF: Closing Price 0.9508</strong>.\r\n\r\nI want to get long this pair. However, EUROZONE uncertainty surrounding GREECE and the CHF “safe trade” has me on the back foot.\r\n\r\nWe are stopped at the 38% retracement of the weekly move following the EUR/CHF peg removal earlier this year (see the weekly chart below). That in itself is quite a shallow retracement of the move but an acceptable one.\r\n\r\nI think we have to look at the EUR/USD for our lead with this pair. If the EUR/USD heads towards 1.1050 prior to reversing then this pair will drop further, maybe to the 50% or 61.8% retracement levels of 0.9300 and 0.9100 respectively.\r\n\r\nI hate to say this but keep this one on your RADAR for the coming week or two<strong>. </strong>I am tempted to place a LIMIT ORDER based around a 61.8% entry, as I feel the EUR/USD 1.1050 if touched, would then reverse quickly. I am not an advocate of picking tops or bottoms, but these levels are like “tractor beams” for the markets to aim at.\r\n\r\nFor this week however, assuming that the 38% level of support does NOT hold, support will be at 0.9480 and resistance at 0.9620.\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/USDCHF-W-19042015.png\"><img class=\"aligncenter size-large wp-image-5783\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/USDCHF-W-19042015-1024x517.png\" alt=\"USDCHF W 19042015\" width=\"1024\" height=\"517\" /></a>\r\n\r\n&nbsp;\r\n\r\n<strong> </strong>\r\n\r\n<strong> </strong>\r\n\r\n<strong>USD/JPY: Closing Price 118.88.</strong>\r\n\r\nNo change from last week. We are still in the same range (see weekly chart below).\r\n\r\nSupport at 115.60 and resistance at 122.00, however, we are starting to make a move towards the lower end of the range. I do not want to have everyone getting over excited but my thoughts are that with bond yield moving the pressure on the USD/JPY is intensifying and a move lower is inevitable if the correlation with U.S. treasuries sticks.\r\n\r\nThis could be a big week for the JPY.\r\n\r\nImmediate support is at 118.20 and resistance back at 119.50.\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/USDJPY-W-19042015.png\"><img class=\"aligncenter size-large wp-image-5782\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/USDJPY-W-19042015-1024x517.png\" alt=\"USDJPY W 19042015\" width=\"1024\" height=\"517\" /></a>\r\n\r\n&nbsp;\r\n<ol start=\"5\">\r\n	<li><strong><span style=\"text-decoration: underline;\"> THE CONCLUSION - MY FINAL THOUGHTS:</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...one less thing to worry about!\r\n\r\n<span style=\"text-decoration: underline;\">5.2 –TRADING TIPS &amp; THOUGHTS FOR THE WEEK AHEAD:</span>\r\n\r\nWe have a lot of geopolitical news hanging around so we must trade with tighter stops.\r\n\r\nGREECE is of major concern and any trades placed with EUR or CHF pairs should be monitored very closely. I would suggest that smaller position sizes and wider stops are used.\r\n\r\nOil and the continuing middle-east issues will keep the USD in check, as well Oil related currencies such as CAD, NOK and MXN.\r\n\r\nWe also have China data this week so that alerts us with regards to the AUD and NZD pairs.\r\n\r\nThe UK election places you on GBP alert.\r\n\r\nNow, which pairs have I not mentioned!!!!\r\n\r\nAh ha…. the JPY - U.S. treasuries need to be watched so that brings in the USD/JPY.\r\n\r\nSo there you have it, all currency pairs have potential red lights - you can’t trade - take the week off!\r\n\r\nBasically, we will trade. But we need to be aware of the factors around us that can affect pricing in an instant. Trade smaller with wider stops to cope with the volatility.\r\n\r\nWe will have opportunities to make $$$, we just have to be alert and careful.\r\n\r\nAs always, there will be trades to trade and there will be some great opportunities, please trade in line with your RISK MANAGEMENT parameters from your TRADING PLAN. If you do not have a TRADE PLAN, in my opinion, you should, as this will help you with consistency.\r\n<p style=\"text-align: center;\"><strong>Consistency = longevity in trading and that is a critical goal.\r\nIT IS THE KEY MEASUREMENT</strong></p>\r\nBefore you enter a trade work out the risk, price it in $$$. 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\nSunday April 19th 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<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 do','GREECE – JUST WAITING FOR THE FAT LADY TO SING!','','inherit','open','closed','','5797-revision-v1','','','2015-04-18 13:11:35','2015-04-18 18:11:35','',5797,'https://weeklyfxdrivethru.com/5797-revision-v1/',0,'revision','',0),(5800,1,'2015-04-19 06:25:53','2015-04-19 11:25:53','<p style=\"text-align: center;\"><strong>THE PREMIUM SERVICE\r\n</strong><strong>The Home of Single-Lot Trading\r\n</strong><strong style=\"line-height: 1.5;\">www.weeklyfxdrivethru.com</strong></p>\r\n<strong>DATE: 19.04.2015\r\nREFERENCE: #149\r\n</strong><strong>BLOG: THE WEEKLY FX DRIVE THRU</strong>\r\n\r\n&nbsp;\r\n<ol>\r\n	<li><strong> INTRODUCTION - MY OVERVIEW OF THE FOREX MARKET:</strong></li>\r\n</ol>\r\n<span style=\"text-decoration: underline;\">LOOKING BACKWARDS, FORWARDS &amp; SIDEWAYS (FOR GOOD MEASURE) AT THE FX MARKET:</span>\r\n\r\n<span style=\"text-decoration: underline;\">1.1 - LOOKING BACKWARDS:</span>\r\n\r\nThere were three news events last week that I want to mention.\r\n\r\n<span style=\"text-decoration: underline;\">ECB – RATE STATEMENT:</span>\r\n\r\nIn my opinion one of the most boring ECB Press Conferences in history, well, at lease since I started trading. The real excitement was the female protestor jumping onto the front desk covering Draghi in confetti.\r\n\r\nIn recent weeks EUROZONE data has been improving so Draghi had an easy ride for a change. He was bullish on the following points: -\r\n<ul>\r\n	<li>The cyclical recovery in the euro area has strengthened.</li>\r\n	<li>The Asset Purchase program has been successful.</li>\r\n	<li>The program is flexible and will run until September 2016, or until there is a sustained increase in inflation.</li>\r\n	<li>The ECB has no difficulties in finding bonds to purchase.</li>\r\n	<li>Any concerns about bond scarcity are “premature”.</li>\r\n	<li>ECB exposure to GREECE is €110 billion (largest to any EUROZONE member).</li>\r\n</ul>\r\nFrom a trading perspective, I took nothing new from this statement at all. My FUNDAMENTAL views relating to the EUROZONE have not altered.\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">BOC MEETING MINUTES:</span>\r\n\r\nBy comparison to the ECB meeting, Stephen Poloz, BOC Governor was quite HAWKISH in his comments. This sent the USD/CAD into a tailspin lower taking out support after support level. The fact that WTi was rallying at the same time further exacerbated the strength of the CAD and the entire cross rates fell as well.\r\n\r\nThe crosses have made modest recoveries since last Wednesday and look very oversold, but as the CAD currency appears to be treated like the MXN and NOK as a proxy for the OIL price, it is moves in Oil that seem to dictate the direction of the USD/CAD.\r\n\r\nMoving forward, I think we treat the CAD as we have for the past few weeks. OIL up the CAD strengthens…OIL down the CAD weakens…\r\n\r\nThe entire CAD related pairs look great buys at these low levels. Check out the charts later (section 4.5), I am thinking of a couple of smaller position sized lower risk trades.\r\n\r\nThe one aspect about the Forex market is that there are always opportunities, but the risks have to be managed.\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">CHINA GDP:</span>\r\n\r\nChina GDP printed at 7%.\r\n\r\nA few years ago if this number were printed there would have been an almighty reaction and comments about the end of the world would have featured in the press. I was a little surprised that we did not get much of a follow through with the AUD and NZD currencies after this data release.\r\n\r\nIt is so strange now; news is reacted to and then just forgotten so quickly.\r\n\r\nIt has been such a long time since I have written we are either in a RISK OFF or RISK ON environment. The currency wars have really stopped all this. The “rock star” central bank presidents and governors have taken so much joy out of trading.\r\n\r\nThe CHINA data represents weakening in the “sweat room” of the world, and, people such as Mark Faber (Doom, Gloom and Boom report), actually believe the true China GDP figure is closer to 5%; who knows?\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">GEOPOLITICAL EVENTS:</span>\r\n<ol>\r\n	<li><span style=\"text-decoration: underline;\"> GREECE:</span></li>\r\n</ol>\r\nThe GREECE situation is just not going to go away.\r\n\r\nIn my opinion, the negative comments about the Greek negotiations made by Wolfgang Schaeuble, the German Finance minister, acted only to fan the flames and frankly I believe the whole subject would be better served if he kept his “GOB” firmly closed. He may be Merkel’s mouthpiece, pit bull or assassin of hope, however, his comments and negativity are just draining on the whole subject. Frankly, he has reached the point when I no longer look to his comments for inspiration; it is now more of a case of what has that silly old bastard said now!!\r\n\r\nI am writing about GREECE later and will revisit this again; I will NOT be able to stop my self for any repetition. I apologise in advance.\r\n\r\n&nbsp;\r\n<ol start=\"2\">\r\n	<li><span style=\"text-decoration: underline;\"> OIL – YEMEN – IRAN:</span></li>\r\n</ol>\r\nNo change it is now becoming a real humanitarian issue. It is a case of over there rather than over here and OIL is getting through, so no-one real has it high on their agendas.\r\n\r\nThis is just getting messier by the day. I cannot see an end game here in the short-term.\r\n\r\nThe IRAN nuclear issue has gone quiet again over the matter of trust. Nothing new with this one, no one trusts anyone. What a great world we live in.\r\n\r\nFrom a trading perspective, OIL supplies are not threatened\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">1.2 - LOOKING FORWARDS:</span>\r\n\r\n<span style=\"text-decoration: underline;\">MAJOR FOREX NEWS THIS WEEK THAT INTERESTS ME:\r\n</span>(There are many more news items related to the Forex Market than the ones listed below. These are the ones that interest me. You can go to <a href=\"http://www.forexfasctory.com\">www.forexfactory.com</a> and <a href=\"http://www.tradingeconomics.com\">www.tradingeconomics.com</a> for more comprehensive lists of all news events that are Forex related).\r\nSUNDAY: NZD - CPi.\r\nSUNDAY: CNY – HSBC Flash Manufacturing PMI\r\n\r\nMONDAY: EUR – German &amp; French Manufacturing PMi.\r\nMONDAY: AUD – Monetary Policy Meeting Minutes.\r\n\r\nTUESDAY: EUR – German ZEW Economic Sentiment.\r\nTUESDAY: AUD - CPi.\r\n\r\nWEDNESDAY: N/A.\r\n\r\nTHURSDAY: N/A.\r\n\r\nFRIDAY: N/A.\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">MY THOUGHTS:</span>\r\n\r\nFrom my interest viewpoint, it looks like a very light week on economic data.\r\n\r\nI have a feeling however, that we will have a busy week with GREECE. So this will not be a time to do spring gardening, decorating etc.…\r\n\r\nI may be able to move my trading to the terrace if the weather holds up but I am expecting some twists and turns and no doubt some irrational squeezes in the coming week just to piss me off!!\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">CHINA:</span>\r\n\r\nBe prepared for the possibility of strong sell-offs in equities in the coming week. It appears that the authorities in China are about to actively support “short-selling” of equities in a big way.\r\n\r\nI wrote last week that over a million new trading accounts per month were being added to China brokerages and basically, all this means is that the new “players” buy, buy and buy some more.\r\n\r\nIt does appear that the bubble conscious authorities in China have suddenly realized the monster that has been created and now they are going to act by supporting “short-selling”.\r\n\r\nBear this in mind because no matter how much of a heads up we have this will affect currencies.\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">1.3 - LOOKING SIDEWAYS (FOR GOOD MEASURE):\r\n</span>\r\n\r\n<span style=\"text-decoration: underline;\">FOREX MARKET CONDITIONS:</span>\r\n\r\nDare I say it, but we had a 48-hour period of reasonable normality in the markets. Correlations came into sync and we were able to trade with relative confidence given that we had a backdrop of geopolitical tensions dotted here and there.\r\n\r\nOne factor that is resonating more and more with me is “King USD”. It is still the flight to safety when all things matter.\r\n\r\nHow the market treats the USD, pretty much dominates all things Forex. Let me elaborate a little.\r\n\r\nThe China GDP print at 7% was a devastating number in particular for the AUD and NZD, as expected they weakened across the board. However, within 36 hours the AUD/USD and NZD/USD were breaking new trend highs on the back of USD weakness.\r\n\r\nAs a FUNDAMENTAL trader first, then TECHNICAL, this is extremely difficult for me to initially deal with and my first reaction is caution in the sense of do not believe the move. The markets are what they are and there is very little logic at times, I suppose this is what makes the Forex market so interesting, but at the same time annoying to trade.\r\n\r\nIn 2014, I found myself trading less and being in trades longer. This year the markets are so “skittish” I am trading more for less income per trade.\r\n\r\nI know that I am not alone in this and I am also advised from PREMIUM SERVICE subscribers, that as a result in 2015, trading conditions compared to 2014 showed that the swings in account balances have been greater than ever. Two or three good days are then followed by a bad day. This is something that I am trying my best to eradicate but unfortunately it very difficult.\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">FOREX LIQUIDITY:\r\n</span>(This short segment was in last week’s blog. It is so relevant to matters now I have left it in this week as well so that new readers can capture the content)\r\n\r\nI read in the Financial Times last week that the Forex Market, which is now a USD$5.3 trillion a day on average marketplace, has a problem (Over the past few weeks I have been moaning about too many squeezes and weird market trading conditions).\r\n\r\nIt appears the mechanics of the market have been drawn into question. Is there a decline, or cyclical decline in Forex trading? I would say that it was noted recently that some of the banks who traded Forex were cutting back after taking some heavy losses.\r\n\r\nWithout doubt greater regulation in the banking industry is weeding out the “under the counter cheating” that took place and is becoming very quickly a trait of the past. I know for a fact that thousands of retail traders left after the SNB. Over leveraged accounts were wiped out.\r\n\r\nWithout doubt we see much larger volatile moves and if you are caught the wrong way it can be very painful.\r\n\r\nTo cover this volatility many of the banks have widened the spreads offered to their supporting brokers. This has resulted in many retail traders closing their accounts and no longer trading FOREX. Without doubt if banks lose money they will protect themselves and they will have a lower risk appetite. I think I wrote that in February this year daily volumes compared with January were lower by 16%. This is a significant number.\r\n\r\nAs if we do not have enough to consider, we now have a permanent liquidity fear if one of the major FX banks is absent from the market for a few moments…. just brilliant… just great.\r\n\r\nForex trading is an evolving market and is going through changes. All we can do is get the head down, look for high probability trades, set the best stops we can based on our RISK TOLERANCES and trade.\r\n\r\nLike so many of you, I still find trading conditions quite difficult. I seem to be moving forwards and then backwards to move forwards again. It is very, very frustrating.\r\n\r\nThe PREMIUM SERVICE still moves forward in these sticky / changing conditions, so I am obviously delighted. It is much harder than last year but we still move forwards despite all that is thrown in our direction.\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><strong> </strong></li>\r\n</ol>\r\n<p style=\"text-align: center;\"><span style=\"text-decoration: underline;\"><strong>GREECE – </strong><strong>JUST WAITING FOR THE FAT LADY TO SING!</strong></span></p>\r\nOf late there has been so much written, and so much speculation in the media on this topic. Frankly when I wrote my article in the blog dated April 5<sup>th</sup> “Does Merkel Have The Balls To Risk A Contagion”, deep down I thought that when push comes to a shove that Germany would back down.\r\n\r\nRecent comments from Merkel’s “Pit-bull”, Wolfgang Schaeuble (German Finance Minister), would indicate that the Germans are prepared for a GREXIT. Without doubt on May 1<sup>st</sup> and May 12<sup>th</sup> the Greek government has payments due to the IMF totaling €200 million and €763 million respectively and I just cannot see these payments being made given the current set of circumstances.\r\n\r\nWe therefore, will have a default on our hands.\r\n\r\nWhat does this mean for GREECE and the EUROZONE?\r\n\r\nFor GREECE, it would be devastating. Already I have read about Greek importers having credit lines removed from suppliers who originate outside of GREECE. All imports have to be paid in full prior to shipment.\r\n\r\nEarlier last week there was a leaked IMF document that showed that calculations on the Tax and Income effect from changes requested by the Trioka were incorrectly calculated. The relationship between changes in direct and indirect tax when added to a reduction in government spending and the effect that this would have on GDP were not calculated accurately. These Fiscal Multipliers that form the benchmark of a governments annual accounts were screwed and no matter what GREECE was able to do it would never be enough.\r\n\r\nThe alleged long-term solution was so drastic it set GREECE back instead of allowing a gradual move forward. A situation that would take effectively decades to fix was fixed at a stroke of a pen overnight…. or not as the case is.\r\n\r\nI read only a few days ago in passing that even if GREECE had a GDP rate of 10% per annum for the next 5 years they would still be no better off and could not effectively manage.\r\n\r\nWhat is the point of a bailout for a country that simply cannot pay at any price?\r\n\r\nGreek debt totals about €323 billion. Of this total about €15 billion is held by Greek banks and a further €246 billion by the ECB and other EUROZONE banks.\r\n\r\nAnyone who says that a Greek default would not really affect the EUROZONE and in fact the EUROZONE would be stronger without GREECE, needs to grab the concept of market uncertainty and contagion.\r\n\r\nFor the EUROZONE, the financial numbers will create market uncertainty and whilst they would be considered somewhat nominal, there would be a negative effect.\r\n\r\nThe bigger risk however is contagion. If a GREXIT occurs, every far right party and every anti-Europe, anti-Brussels party in the EUROZONE would be on RED alert. If GREECE can return to the Drachma we will go back to whatever….\r\n\r\nThis is the contagion risk that could break up the EUROZONE, as we know it today. It could happen. Very few people in the EUROZONE actually voted for the single-currency. There could be fireworks ahead.\r\n\r\nSo what happens next, if GREECE defaults? By the way, there is NO SUCH THING AS AN ORDERLY DEFAULT. You can be prepared but you will not know when it will happen. Here are some possible scenarios:\r\n<ol>\r\n	<li>The Athens government in Greece announces capital controls.</li>\r\n	<li>GREECE issues basically IOU’s to pay for essential services.</li>\r\n	<li>The Drachma is re-introduced and operates alongside the EUR until the EUR is totally withdrawn.</li>\r\n	<li>There is huge confusion over the potential value of the Drachma versus the EUR and people are reluctant to hold the new currency. This creates a potential run on the banks probably across parts of Europe, in particular the periphery. In GREECE capital controls basically freeze accounts and only Drachmas can be withdrawn.</li>\r\n	<li>Possible Capital Controls in other periphery countries banks as rumours of more potential exits of the EUROZONE hit the newswires and the populations around the EUROZONE see how GREECE coped, or didn’t with the transfer.</li>\r\n	<li>Emergency ECB measures on movement of monies throughout the EUROZONE.</li>\r\n	<li>Emergency ECB measures for EUROZONE state banks to hold monies overnight.</li>\r\n	<li>ECB bank guarantees bank deposits throughout the EUROZONE.</li>\r\n	<li>The EUR/USD is now sub-parity towards 0.9600.</li>\r\n	<li>Huge uncertainty in GREECE as the Greek people protest riots in Athens.</li>\r\n	<li>The blame game between Athens and the EUROGROUP reaches new levels over who didn\'t trust whom, causing political uncertainty in other EUROZONE countries. Stability is threatened.</li>\r\n	<li>We have a contagion effect.</li>\r\n</ol>\r\nIf there is an eleventh hour solution it will probably be yet another fudge by Merkel to buy time so that the EUROZONE central banks can offload a potential future Greek default situation into the ECB.\r\n\r\nPersonally, I think that the Greek government knows what they are going to do and are scheduling an emergency timetable to minimalize all the risks associated with a default.\r\n\r\nI wrote a few weeks ago about trust within the relationships in the EUROZONE, not just the trust issues that are so apparent between GREECE and GERMANY but within the other relationships that exist. The EUROZONE is the name given to the countries within the EUROPEAN UNION that adopt the single currency. However the entire area of Europe with all partners is called the EUROPEAN UNION, this encompasses members who do not use the single currency such as the UK, Sweden, Norway and Denmark. The UNION stands out…”UNION my arse”, most issues inside EUROPE are so far away from a UNION status it re-defines the word.\r\n\r\nI am amazed at the market complacency surrounding this and the EUR/USD trading above 1.0800, I just cannot fathom.\r\n\r\nI cannot see a way out other than a GREXIT and the on-going contagion games will begin. Whilst you cannot attribute blame to GREECE for this mess the EUROGROUP and TRIOKA are equally at fault with setting financial goals, objectives and measures that the Greek economy could not support in anyway shape or form.\r\n\r\nNow we have the “Pit-bull” (Schaeuble) acting out a modern Pontius Pilate routine in front of the world’s media. It is a bloody disgrace how GREECE got here, but my God what a UNION!!!\r\n\r\nI await the Reuters feed soon with the news.\r\n\r\n&nbsp;\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 and SUBSCRIPTION PRICING:</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<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/PS-SUBSCRIPTION-COSTS-05042015.png\"><img class=\"aligncenter size-full wp-image-5668\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/PS-SUBSCRIPTION-COSTS-05042015.png\" alt=\"PS SUBSCRIPTION COSTS 05042015\" width=\"380\" height=\"473\" /></a>\r\n\r\nCOMING SOON - SILVER &amp; GOLD - PREMIUM SERVICE MEMBER STATUS:\r\n\r\nRegular readers will be aware that during the past couple of months I have been upgrading speeds and revising content and deliverables within the PREMIUM SERVICE.\r\n\r\nAll of my subscribers were contacted for views about the potential changes and ideas moving forward. Many items have been addressed already, but, others require additional work “behind the scenes” to implement.\r\n\r\nOne of the suggestions was create a two-tier approach to the subscription of the PREMIUM SERVICE.\r\n\r\nBasically this is what is proposed and on the table: -\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">GOLD MEMBER STATUS:</span>\r\n<ul>\r\n	<li>100% access to the PREMIUM SERVICE website.</li>\r\n	<li>A dedicated exclusive twitter feed for GOLD subscribers only @ThePremService.</li>\r\n	<li>All trade set-ups communicated via Twitter and RADAR and FUNDAMENTAL trades additionally via email when possible.</li>\r\n	<li>The WEEKLY FX DRIVE THRU (access to the full and complete version) delivered weekly via an emailed PDF, and, viewable on line inside the PREMIUM SERVICE secure section of <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a></li>\r\n	<li>My thoughts and comments on market conditions via twitter.</li>\r\n</ul>\r\nSubscriptions costs remain as they are (see above).\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">SILVER MEMBER STATUS:</span>\r\n<ul>\r\n	<li>A new dedicated exclusive twitter feed for SILVER subscribers only (TBA).</li>\r\n	<li>Limited access to the PREMIUM SERVICE website (trade information only).</li>\r\n	<li>The WEEKLY FX DRIVE THRU (the restricted version) delivered weekly via an emailed PDF and viewable online at <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a></li>\r\n</ul>\r\nSubscription costs for SILVER members will be advised soon. I am hoping to launch this within the next two / three weeks\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">3.2 - SUMMARY OF PERFORMANCE:</span>\r\n\r\n(Only the excel spreadsheets will now be shown in this section. References to previous, present and future trades “LAST WEEK’s TRADING REVIEW” will now be provided solely for the benefit of PREMIUM SERVICE subscribers and has been moved into section 4).\r\n\r\n<span style=\"text-decoration: underline;\">3.2.1 – PREMIUM SERVICE – COST INCOME ANALYSIS:</span>\r\n\r\n&nbsp;\r\n<p style=\"text-align: center;\"><span style=\"text-decoration: underline;\"><strong>EMANATING FROM TRADE SET-UPS - 2015 to date:</strong></span></p>\r\n<p style=\"text-align: center;\"><span style=\"text-decoration: underline;\">MICRO LOT TRADER</span> - 258 trades cost to trade = $25.80\r\n<strong>PROFIT</strong> from 258 trades = <strong><span style=\"text-decoration: underline;\">$363.00</span></strong></p>\r\n<p style=\"text-align: center;\"><span style=\"text-decoration: underline;\">MINI LOT TRADER</span> - 258 trades cost to trade = $258.00\r\n<strong>PROFIT</strong> from 258 trades = <strong><span style=\"text-decoration: underline;\">$3,630.00</span></strong></p>\r\n<p style=\"text-align: center;\"><span style=\"text-decoration: underline;\">STANDARD LOT TRADER</span> - 258 trades cost to trade = $2,580.00\r\n<strong>PROFIT</strong> from 258 trades = <strong><span style=\"text-decoration: underline;\">$36,300.00</span></strong></p>\r\n<p style=\"text-align: center;\"><strong><span style=\"text-decoration: underline;\">PLEASE NOTE:\r\n</span><span style=\"color: #0000ff;\">If this sort of risk/reward income opportunity interests you:</span></strong>\r\n<strong><span style=\"color: #0000ff;\">To join the PREMIUM SERVICE at the introductory level subscribe to the initial</span></strong>\r\n<strong><span style=\"color: #0000ff;\">4 week subscription and receive a 5<sup>th</sup> week FREE!!</span></strong>\r\n<strong><span style=\"color: #0000ff;\">See the PROMOTIONS tab on my landing page at</span></strong>\r\n<strong><span style=\"color: #0000ff;\">www.weeklyfxdrivrethru.com</span></strong></p>\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">3.2.2 - PREMIUM SERVICE - PROFIT/LOSS RATIOS:</span>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/PROFIT-LOSS-RATIO-19042015.png\"><img class=\"aligncenter size-full wp-image-5771\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/PROFIT-LOSS-RATIO-19042015.png\" alt=\"PROFIT-LOSS RATIO 19042015\" width=\"424\" height=\"586\" /></a>\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">3.2.3 - PREMIUM SERVICE - RISK/REWARD ANALYSIS:</span>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/RISK-REWARD-19042015.png\"><img class=\"aligncenter size-full wp-image-5772\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/RISK-REWARD-19042015.png\" alt=\"RISK-REWARD 19042015\" width=\"436\" height=\"555\" /></a>\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">3.2.4 - PREMIUM SERVICE - OVERALL TRADE SUMMARY MONTH &amp; YTD:</span>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/REM-SERV-PROFITS-1-19042015.png\"><img class=\"aligncenter size-full wp-image-5773\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/REM-SERV-PROFITS-1-19042015.png\" alt=\"REM SERV PROFITS 1 19042015\" width=\"461\" height=\"435\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/PREM-SERV-PROFITS-2-19042015.png\"><img class=\"aligncenter size-full wp-image-5774\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/PREM-SERV-PROFITS-2-19042015.png\" alt=\"PREM SERV PROFITS 2 19042015\" width=\"472\" height=\"421\" /></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\r\n<span style=\"text-decoration: underline;\">4.2 – THE PREMIUM SERVICE – TRADING REVIEW:</span>\r\n\r\n<span style=\"text-decoration: underline;\">4.3 - THE PREMIUM SERVICE - EXISTING LIVE TRADES:</span>\r\n\r\n<span style=\"text-decoration: underline;\">4.4 - THE PREMIUM SERVICE – EXISTING LIMIT ORDERS:</span>\r\n\r\n<span style=\"text-decoration: underline;\">4.5 - POTENTIAL TRADES - WHAT CHARTS AM I LOOKING AT?</span>\r\n\r\n<span style=\"text-decoration: underline;\">4.6 - MAJOR TRADING PAIRS WITH LONGER-TERM TRENDS MATCHING:</span>\r\n\r\n<span style=\"text-decoration: underline;\">4.7 - THE KEY SUPPORT &amp; RESISTANCE LEVELS WITH THE USD MAJORS</span><strong><span style=\"text-decoration: underline;\">:\r\n</span></strong>\r\n\r\n&nbsp;\r\n<ol start=\"5\">\r\n	<li><strong><span style=\"text-decoration: underline;\"> THE CONCLUSION - MY FINAL THOUGHTS:</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...one less thing to worry about!\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">5.2 –TRADING TIPS &amp; THOUGHTS FOR THE WEEK AHEAD:</span>\r\n\r\nWe have a lot of geopolitical news hanging around so we must trade with tighter stops.\r\n\r\nGREECE is of major concern and any trades placed with EUR or CHF pairs should be monitored very closely. I would suggest that smaller position sizes and wider stops are used.\r\n\r\nOil and the continuing middle-east issues will keep the USD in check, as well Oil related currencies such as CAD, NOK and MXN.\r\n\r\nWe also have China data this week so that alerts us with regards to the AUD and NZD pairs.\r\n\r\nThe UK election places you on GBP alert.\r\n\r\nNow, which pairs have I not mentioned!!!!\r\n\r\nAh ha…. the JPY - U.S. treasuries need to be watched so that brings in the USD/JPY.\r\n\r\nSo there you have it, all currency pairs have potential red lights - you can’t trade - take the week off!\r\n\r\nBasically, we will trade. But we need to be aware of the factors around us that can affect pricing in an instant. Trade smaller with wider stops to cope with the volatility.\r\n\r\nWe will have opportunities to make $$$, we just have to be alert and careful.\r\n\r\nAs always, there will be trades to trade and there will be some great opportunities, please trade in line with your RISK MANAGEMENT parameters from your TRADING PLAN. If you do not have a TRADE PLAN, in my opinion, you should, as this will help you with consistency.\r\n<p style=\"text-align: center;\"><strong>Consistency = longevity in trading and that is a critical goal.\r\nIT IS THE KEY MEASUREMENT</strong></p>\r\nBefore you enter a trade work out the risk, price it in $$$. 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\nSunday April 19th 2015\r\n\r\nEMAIL / FOLLOW ME AT:\r\nEmail: drivethru@weeklyfxdrivethru.com\r\nTwitter: @pipaccumulator\r\nGoogle+/scottpickering\r\nTumblr: thepipaccumulator\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<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 do.','GREECE – JUST WAITING FOR THE FAT LADY TO SING!','','publish','open','closed','','greece-just-waiting-for-the-fat-lady-to-sing','','','2015-04-19 06:25:53','2015-04-19 11:25:53','',0,'https://weeklyfxdrivethru.com/?p=5800',0,'post','',0),(5801,1,'2015-04-18 13:27:26','2015-04-18 18:27:26','<p style=\"text-align: center;\"><strong>THE PREMIUM SERVICE\r\n</strong><strong>The Home of Single-Lot Trading\r\n</strong><strong style=\"line-height: 1.5;\">www.weeklyfxdrivethru.com</strong></p>\r\n<strong>DATE: 19.04.2015\r\nREFERENCE: #149\r\n</strong><strong>BLOG: THE WEEKLY FX DRIVE THRU</strong>\r\n\r\n&nbsp;\r\n<ol>\r\n	<li><strong> INTRODUCTION - MY OVERVIEW OF THE FOREX MARKET:</strong></li>\r\n</ol>\r\n<span style=\"text-decoration: underline;\">LOOKING BACKWARDS, FORWARDS &amp; SIDEWAYS (FOR GOOD MEASURE) AT THE FX MARKET:</span>\r\n\r\n<span style=\"text-decoration: underline;\">1.1 - LOOKING BACKWARDS:</span>\r\n\r\nThere were three news events last week that I want to mention.\r\n\r\n<span style=\"text-decoration: underline;\">ECB – RATE STATEMENT:</span>\r\n\r\nIn my opinion one of the most boring ECB Press Conferences in history, well, at lease since I started trading. The real excitement was the female protestor jumping onto the front desk covering Draghi in confetti.\r\n\r\nIn recent weeks EUROZONE data has been improving so Draghi had an easy ride for a change. He was bullish on the following points: -\r\n<ul>\r\n	<li>The cyclical recovery in the euro area has strengthened.</li>\r\n	<li>The Asset Purchase program has been successful.</li>\r\n	<li>The program is flexible and will run until September 2016, or until there is a sustained increase in inflation.</li>\r\n	<li>The ECB has no difficulties in finding bonds to purchase.</li>\r\n	<li>Any concerns about bond scarcity are “premature”.</li>\r\n	<li>ECB exposure to GREECE is €110 billion (largest to any EUROZONE member).</li>\r\n</ul>\r\nFrom a trading perspective, I took nothing new from this statement at all. My FUNDAMENTAL views relating to the EUROZONE have not altered.\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">BOC MEETING MINUTES:</span>\r\n\r\nBy comparison to the ECB meeting, Stephen Poloz, BOC Governor            was quite HAWKISH in his comments. This sent the USD/CAD into a tailspin lower taking out support after support level. The fact that WTi was rallying at the same time further exacerbated the strength of the CAD and the entire cross rates fell as well.\r\n\r\nThe crosses have made modest recoveries since last Wednesday and look very oversold, but as the CAD currency appears to be treated like the MXN and NOK as a proxy for the OIL price, it is moves in Oil that seem to dictate the direction of the USD/CAD.\r\n\r\nMoving forward, I think we treat the CAD as we have for the past few weeks. OIL up the CAD strengthens…OIL down the CAD weakens…\r\n\r\nThe entire CAD related pairs look great buys at these low levels. Check out the charts later (section 4.5), I am thinking of a couple of smaller position sized lower risk trades.\r\n\r\nThe one aspect about the Forex market is that there are always opportunities, but the risks have to be managed.\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">CHINA GDP:</span>\r\n\r\nChina GDP printed at 7%.\r\n\r\nA few years ago if this number were printed there would have been an almighty reaction and comments about the end of the world would have featured in the press. I was a little surprised that we did not get much of a follow through with the AUD and NZD currencies after this data release.\r\n\r\nIt is so strange now; news is reacted to and then just forgotten so quickly.\r\n\r\nIt has been such a long time since I have written we are either in a RISK OFF or RISK ON environment. The currency wars have really stopped all this. The “rock star” central bank presidents and governors have taken so much joy out of trading.\r\n\r\nThe CHINA data represents weakening in the “sweat room” of the world, and, people such as Mark Faber (Doom, Gloom and Boom report), actually believe the true China GDP figure is closer to 5%; who knows?\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">GEOPOLITICAL EVENTS:</span>\r\n<ol>\r\n	<li><span style=\"text-decoration: underline;\"> GREECE:</span></li>\r\n</ol>\r\nThe GREECE situation is just not going to go away.\r\n\r\nIn my opinion, the negative comments about the Greek negotiations made by Wolfgang Schaeuble, the German Finance minister, acted only to fan the flames and frankly I believe the whole subject would be better served if he kept his “GOB” firmly closed. He may be Merkel’s mouthpiece, pit bull or assassin of hope, however, his comments and negativity are just draining on the whole subject. Frankly, he has reached the point when I no longer look to his comments for inspiration; it is now more of a case of what has that silly old bastard said now!!\r\n\r\nI am writing about GREECE later and will revisit this again; I will NOT be able to stop my self for any repetition. I apologise in advance.\r\n\r\n&nbsp;\r\n<ol start=\"2\">\r\n	<li><span style=\"text-decoration: underline;\"> OIL – YEMEN – IRAN:</span></li>\r\n</ol>\r\nNo change it is now becoming a real humanitarian issue. It is a case of over there rather than over here and OIL is getting through, so no-one real has it high on their agendas.\r\n\r\nThis is just getting messier by the day. I cannot see an end game here in the short-term.\r\n\r\nThe IRAN nuclear issue has gone quiet again over the matter of trust. Nothing new with this one, no one trusts anyone. What a great world we live in.\r\n\r\nFrom a trading perspective, OIL supplies are not threatened\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">1.2 - LOOKING FORWARDS:</span>\r\n\r\n<span style=\"text-decoration: underline;\">MAJOR FOREX NEWS THIS WEEK THAT INTERESTS ME:\r\n</span>(There are many more news items related to the Forex Market than the ones listed below. These are the ones that interest me. You can go to <a href=\"http://www.forexfasctory.com\">www.forexfactory.com</a> and <a href=\"http://www.tradingeconomics.com\">www.tradingeconomics.com</a> for more comprehensive lists of all news events that are Forex related).\r\nSUNDAY: NZD - CPi.\r\nSUNDAY: CNY – HSBC Flash Manufacturing PMI\r\n\r\nMONDAY: EUR – German &amp; French Manufacturing PMi.\r\nMONDAY: AUD – Monetary Policy Meeting Minutes.\r\n\r\nTUESDAY: EUR – German ZEW Economic Sentiment.\r\nTUESDAY: AUD - CPi.\r\n\r\nWEDNESDAY: N/A.\r\n\r\nTHURSDAY: N/A.\r\n\r\nFRIDAY: N/A.\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">MY THOUGHTS:</span>\r\n\r\nFrom my interest viewpoint, it looks like a very light week on economic data.\r\n\r\nI have a feeling however, that we will have a busy week with GREECE. So this will not be a time to do spring gardening, decorating etc.…\r\n\r\nI may be able to move my trading to the terrace if the weather holds up but I am expecting some twists and turns and no doubt some irrational squeezes in the coming week just to piss me off!!\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">CHINA:</span>\r\n\r\nBe prepared for the possibility of strong sell-offs in equities in the coming week. It appears that the authorities in China are about to actively support “short-selling” of equities in a big way.\r\n\r\nI wrote last week that over a million new trading accounts per month were being added to China brokerages and basically, all this means is that the new “players” buy, buy and buy some more.\r\n\r\nIt does appear that the bubble conscious authorities in China have suddenly realized the monster that has been created and now they are going to act by supporting “short-selling”.\r\n\r\nBear this in mind because no matter how much of a heads up we have this will affect currencies.\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">1.3 - LOOKING SIDEWAYS (FOR GOOD MEASURE):\r\n</span>\r\n\r\n<span style=\"text-decoration: underline;\">FOREX MARKET CONDITIONS:</span>\r\n\r\nDare I say it, but we had a 48-hour period of reasonable normality in the markets. Correlations came into sync and we were able to trade with relative confidence given that we had a backdrop of geopolitical tensions dotted here and there.\r\n\r\nOne factor that is resonating more and more with me is “King USD”. It is still the flight to safety when all things matter.\r\n\r\nHow the market treats the USD, pretty much dominates all things Forex. Let me elaborate a little.\r\n\r\nThe China GDP print at 7% was a devastating number in particular for the AUD and NZD, as expected they weakened across the board. However, within 36 hours the AUD/USD and NZD/USD were breaking new trend highs on the back of USD weakness.\r\n\r\nAs a FUNDAMENTAL trader first, then TECHNICAL, this is extremely difficult for me to initially deal with and my first reaction is caution in the sense of do not believe the move. The markets are what they are and there is very little logic at times, I suppose this is what makes the Forex market so interesting, but at the same time annoying to trade.\r\n\r\nIn 2014, I found myself trading less and being in trades longer. This year the markets are so “skittish” I am trading more for less income per trade.\r\n\r\nI know that I am not alone in this and I am also advised from PREMIUM SERVICE subscribers, that as a result in 2015, trading conditions compared to 2014 showed that the swings in account balances have been greater than ever. Two or three good days are then followed by a bad day. This is something that I am trying my best to eradicate but unfortunately it very difficult.\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">FOREX LIQUIDITY:\r\n</span>(This short segment was in last week’s blog. It is so relevant to matters now I have left it in this week as well so that new readers can capture the content)\r\n\r\nI read in the Financial Times last week that the Forex Market, which is now a USD$5.3 trillion a day on average marketplace, has a problem (Over the past few weeks I have been moaning about too many squeezes and weird market trading conditions).\r\n\r\nIt appears the mechanics of the market have been drawn into question. Is there a decline, or cyclical decline in Forex trading? I would say that it was noted recently that some of the banks who traded Forex were cutting back after taking some heavy losses.\r\n\r\nWithout doubt greater regulation in the banking industry is weeding out the “under the counter cheating” that took place and is becoming very quickly a trait of the past. I know for a fact that thousands of retail traders left after the SNB. Over leveraged accounts were wiped out.\r\n\r\nWithout doubt we see much larger volatile moves and if you are caught the wrong way it can be very painful.\r\n\r\nTo cover this volatility many of the banks have widened the spreads offered to their supporting brokers. This has resulted in many retail traders closing their accounts and no longer trading FOREX. Without doubt if banks lose money they will protect themselves and they will have a lower risk appetite. I think I wrote that in February this year daily volumes compared with January were lower by 16%. This is a significant number.\r\n\r\nAs if we do not have enough to consider, we now have a permanent liquidity fear if one of the major FX banks is absent from the market for a few moments…. just brilliant… just great.\r\n\r\nForex trading is an evolving market and is going through changes. All we can do is get the head down, look for high probability trades, set the best stops we can based on our RISK TOLERANCES and trade.\r\n\r\nLike so many of you, I still find trading conditions quite difficult. I seem to be moving forwards and then backwards to move forwards again. It is very, very frustrating.\r\n\r\nThe PREMIUM SERVICE still moves forward in these sticky / changing conditions, so I am obviously delighted. It is much harder than last year but we still move forwards despite all that is thrown in our direction.\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><strong> </strong></li>\r\n</ol>\r\n<p style=\"text-align: center;\"><span style=\"text-decoration: underline;\"><strong>GREECE – </strong><strong>JUST WAITING FOR THE FAT LADY TO SING!</strong></span></p>\r\nOf late there has been so much written, and so much speculation in the media on this topic. Frankly when I wrote my article in the blog dated April 5<sup>th</sup> “Does Merkel Have The Balls To Risk A Contagion”, deep down I thought that when push comes to a shove that Germany would back down.\r\n\r\nRecent comments from Merkel’s “Pit-bull”, Wolfgang Schaeuble (German Finance Minister), would indicate that the Germans are prepared for a GREXIT. Without doubt on May 1<sup>st</sup> and May 12<sup>th</sup> the Greek government has payments due to the IMF totaling €200 million and €763 million respectively and I just cannot see these payments being made given the current set of circumstances.\r\n\r\nWe therefore, will have a default on our hands.\r\n\r\nWhat does this mean for GREECE and the EUROZONE?\r\n\r\nFor GREECE, it would be devastating. Already I have read about Greek importers having credit lines removed from suppliers who originate outside of GREECE. All imports have to be paid in full prior to shipment.\r\n\r\nEarlier last week there was a leaked IMF document that showed that calculations on the Tax and Income effect from changes requested by the Trioka were incorrectly calculated. The relationship between changes in direct and indirect tax when added to a reduction in government spending and the effect that this would have on GDP were not calculated accurately. These Fiscal Multipliers that form the benchmark of a governments annual accounts were screwed and no matter what GREECE was able to do it would never be enough.\r\n\r\nThe alleged long-term solution was so drastic it set GREECE back instead of allowing a gradual move forward. A situation that would take effectively decades to fix was fixed at a stroke of a pen overnight…. or not as the case is.\r\n\r\nI read only a few days ago in passing that even if GREECE had a GDP rate of 10% per annum for the next 5 years they would still be no better off and could not effectively manage.\r\n\r\nWhat is the point of a bailout for a country that simply cannot pay at any price?\r\n\r\nGreek debt totals about €323 billion. Of this total about €15 billion is held by Greek banks and a further €246 billion by the ECB and other EUROZONE banks.\r\n\r\nAnyone who says that a Greek default would not really affect the EUROZONE and in fact the EUROZONE would be stronger without GREECE, needs to grab the concept of market uncertainty and contagion.\r\n\r\nFor the EUROZONE, the financial numbers will create market uncertainty and whilst they would be considered somewhat nominal, there would be a negative effect.\r\n\r\nThe bigger risk however is contagion. If a GREXIT occurs, every far right party and every anti-Europe, anti-Brussels party in the EUROZONE would be on RED alert. If GREECE can return to the Drachma we will go back to whatever….\r\n\r\nThis is the contagion risk that could break up the EUROZONE, as we know it today. It could happen. Very few people in the EUROZONE actually voted for the single-currency. There could be fireworks ahead.\r\n\r\nSo what happens next, if GREECE defaults? By the way, there is NO SUCH THING AS AN ORDERLEY DEFAULT. You can be prepared but you will not know when it will happen. Here are some possible scenarios:\r\n<ol>\r\n	<li>The Athens government in Greece announces capital controls.</li>\r\n	<li>GREECE issues basically IOU’s to pay for essential services.</li>\r\n	<li>The Drachma is re-introduced and operates alongside the EUR until the EUR is totally withdrawn.</li>\r\n	<li>There is huge confusion over the potential value of the Drachma versus the EUR and people are reluctant to hold the new currency. This creates a potential run on the banks probably across parts of Europe, in particular the periphery. In GREECE capital controls basically freeze accounts and only Drachmas can be withdrawn.</li>\r\n	<li>Possible Capital Controls in other periphery countries banks as rumours of more potential exits of the EUROZONE hit the newswires and the populations around the EUROZONE see how GREECE coped, or didn’t with the transfer.</li>\r\n	<li>Emergency ECB measures on movement of monies throughout the EUROZONE.</li>\r\n	<li>Emergency ECB measures for EUROZONE state banks to hold monies overnight.</li>\r\n	<li>ECB bank guarantees bank deposits throughout the EUROZONE.</li>\r\n	<li>The EUR/USD is now sub-parity towards 0.9600.</li>\r\n	<li>Huge uncertainty in GREECE as the Greek people protest riots in Athens.</li>\r\n	<li>The blame game between Athens and the EUROGROUP reaches new levels over who didn\'t trust whom, causing political uncertainty in other EUROZONE countries. Stability is threatened.</li>\r\n	<li>We have a contagion effect.</li>\r\n</ol>\r\nIf there is an eleventh hour solution it will probably be yet another fudge by Merkel to buy time so that the EUROZONE central banks can offload a potential future Greek default situation into the ECB.\r\n\r\nPersonally, I think that the Greek government knows what they are going to do and are scheduling an emergency timetable to minimalize all the risks associated with a default.\r\n\r\nI wrote a few weeks ago about trust within the relationships in the EUROZONE, not just the trust issues that are so apparent between GREECE and GERMANY but within the other relationships that exist. The EUROZONE is the name given to the countries within the EUROPEAN UNION that adopt the single currency. However the entire area of Europe with all partners is called the EUROPEAN UNION, this encompasses members who do not use the single currency such as the UK, Sweden, Norway and Denmark. The UNION stands out…”UNION my arse”, most issues inside EUROPE are so far away from a UNION status it re-defines the word.\r\n\r\nI am amazed at the market complacency surrounding this and the EUR/USD trading above 1.0800, I just cannot fathom.\r\n\r\nI cannot see a way out other than a GREXIT and the on-going contagion games will begin. Whilst you cannot attribute blame to GREECE for this mess the EUROGROUP and TRIOKA are equally at fault with setting financial goals, objectives and measures that the Greek economy could not support in anyway shape or form.\r\n\r\nNow we have the “Pit-bull” (Schaeuble) acting out a modern Pontius Pilate routine in front of the world’s media. It is a bloody disgrace how GREECE got here, but my God what a UNION!!!\r\n\r\nI await the Reuters feed soon with the news.\r\n\r\n&nbsp;\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 and SUBSCRIPTION PRICING:</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<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/PS-SUBSCRIPTION-COSTS-05042015.png\"><img class=\"aligncenter size-full wp-image-5668\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/PS-SUBSCRIPTION-COSTS-05042015.png\" alt=\"PS SUBSCRIPTION COSTS 05042015\" width=\"380\" height=\"473\" /></a>\r\n\r\nCOMING SOON - SILVER &amp; GOLD - PREMIUM SERVICE MEMBER STATUS:\r\n\r\n&nbsp;\r\n\r\nRegular readers will be aware that during the past couple of months I have been upgrading speeds and revising content and deliverables within the PREMIUM SERVICE.\r\n\r\nAll of my subscribers were contacted for views about the potential changes and ideas moving forward. Many items have been addressed already, but, others require additional work “behind the scenes” to implement.\r\n\r\nOne of the suggestions was create a two-tier approach to the subscription of the PREMIUM SERVICE.\r\n\r\nBasically this is what is proposed and on the table: -\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">GOLD MEMBER STATUS:</span>\r\n<ul>\r\n	<li>100% access to the PREMIUM SERVICE website.</li>\r\n	<li>A dedicated exclusive twitter feed for GOLD subscribers only @ThePremService.</li>\r\n	<li>All trade set-ups communicated via Twitter and RADAR and FUNDAMENTAL trades additionally via email when possible.</li>\r\n	<li>The WEEKLY FX DRIVE THRU (access to the full and complete version) delivered weekly via an emailed PDF, and, viewable on line inside the PREMIUM SERVICE secure section of <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a></li>\r\n	<li>My thoughts and comments on market conditions via twitter.</li>\r\n</ul>\r\nSubscriptions costs remain as they are (see above).\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">SILVER MEMBER STATUS:</span>\r\n<ul>\r\n	<li>A new dedicated exclusive twitter feed for SILVER subscribers only (TBA).</li>\r\n	<li>Limited access to the PREMIUM SERVICE website (trade information only).</li>\r\n	<li>The WEEKLY FX DRIVE THRU (the restricted version) delivered weekly via an emailed PDF and viewable online at <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a></li>\r\n</ul>\r\nSubscription costs for SILVER members will be advised soon. I am hoping to launch this within the next two / three weeks\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">3.2 - SUMMARY OF PERFORMANCE:</span>\r\n\r\n(Only the excel spreadsheets will now be shown in this section. References to previous, present and future trades “LAST WEEK’s TRADING REVIEW” will now be provided solely for the benefit of PREMIUM SERVICE subscribers and has been moved into section 4).\r\n\r\n<span style=\"text-decoration: underline;\">3.2.1 – PREMIUM SERVICE – COST INCOME ANALYSIS:\r\n\r\n</span>\r\n<p style=\"text-align: center;\"><span style=\"text-decoration: underline;\"><strong>EMANATING FROM TRADE SET-UPS - 2015 to date:</strong></span></p>\r\n<p style=\"text-align: center;\"><span style=\"text-decoration: underline;\">MICRO LOT TRADER</span> - 258 trades cost to trade = $25.80\r\n<strong>PROFIT</strong> from 258 trades = <strong><span style=\"text-decoration: underline;\">$363.00</span></strong></p>\r\n<p style=\"text-align: center;\"><span style=\"text-decoration: underline;\">MINI LOT TRADER</span> - 258 trades cost to trade = $258.00\r\n<strong>PROFIT</strong> from 258 trades = <strong><span style=\"text-decoration: underline;\">$3,630.00</span></strong></p>\r\n<p style=\"text-align: center;\"><span style=\"text-decoration: underline;\">STANDARD LOT TRADER</span> - 258 trades cost to trade = $2,580.00\r\n<strong>PROFIT</strong> from 258 trades = <strong><span style=\"text-decoration: underline;\">$36,300.00</span></strong></p>\r\n<p style=\"text-align: center;\"><strong><span style=\"text-decoration: underline;\">PLEASE NOTE:\r\n</span><span style=\"color: #0000ff;\">If this sort of risk/reward income opportunity interests you:</span></strong>\r\n<strong><span style=\"color: #0000ff;\">To join the PREMIUM SERVICE at the introductory level subscribe to the initial</span></strong>\r\n<strong><span style=\"color: #0000ff;\">4 week subscription and receive a 5<sup>th</sup> week FREE!!</span></strong>\r\n<strong><span style=\"color: #0000ff;\">See the PROMOTIONS tab on my landing page at</span></strong>\r\n<strong><span style=\"color: #0000ff;\">www.weeklyfxdrivrethru.com</span></strong></p>\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">3.2.2 - PREMIUM SERVICE - PROFIT/LOSS RATIOS:</span>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/PROFIT-LOSS-RATIO-19042015.png\"><img class=\"aligncenter size-full wp-image-5771\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/PROFIT-LOSS-RATIO-19042015.png\" alt=\"PROFIT-LOSS RATIO 19042015\" width=\"424\" height=\"586\" /></a>\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">3.2.3 - PREMIUM SERVICE - RISK/REWARD ANALYSIS:</span>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/RISK-REWARD-19042015.png\"><img class=\"aligncenter size-full wp-image-5772\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/RISK-REWARD-19042015.png\" alt=\"RISK-REWARD 19042015\" width=\"436\" height=\"555\" /></a>\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">3.2.4 - PREMIUM SERVICE - OVERALL TRADE SUMMARY MONTH &amp; YTD:</span>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/REM-SERV-PROFITS-1-19042015.png\"><img class=\"aligncenter size-full wp-image-5773\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/REM-SERV-PROFITS-1-19042015.png\" alt=\"REM SERV PROFITS 1 19042015\" width=\"461\" height=\"435\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/PREM-SERV-PROFITS-2-19042015.png\"><img class=\"aligncenter size-full wp-image-5774\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/PREM-SERV-PROFITS-2-19042015.png\" alt=\"PREM SERV PROFITS 2 19042015\" width=\"472\" height=\"421\" /></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\r\n<span style=\"text-decoration: underline;\">4.2 – THE PREMIUM SERVICE – TRADING REVIEW:</span>\r\n\r\n<span style=\"text-decoration: underline;\">4.3 - THE PREMIUM SERVICE - EXISTING LIVE TRADES:</span>\r\n\r\n<span style=\"text-decoration: underline;\">4.4 - THE PREMIUM SERVICE – EXISTING LIMIT ORDERS:</span>\r\n\r\n<span style=\"text-decoration: underline;\">4.5 - POTENTIAL TRADES - WHAT CHARTS AM I LOOKING AT?</span>\r\n\r\n<span style=\"text-decoration: underline;\">4.6 - MAJOR TRADING PAIRS WITH LONGER-TERM TRENDS MATCHING:</span>\r\n\r\n<span style=\"text-decoration: underline;\">4.7 - THE KEY SUPPORT &amp; RESISTANCE LEVELS WITH THE USD MAJORS</span><strong><span style=\"text-decoration: underline;\">:\r\n</span></strong>\r\n\r\n&nbsp;\r\n<ol start=\"5\">\r\n	<li><strong><span style=\"text-decoration: underline;\"> THE CONCLUSION - MY FINAL THOUGHTS:</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...one less thing to worry about!\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">5.2 –TRADING TIPS &amp; THOUGHTS FOR THE WEEK AHEAD:</span>\r\n\r\nWe have a lot of geopolitical news hanging around so we must trade with tighter stops.\r\n\r\nGREECE is of major concern and any trades placed with EUR or CHF pairs should be monitored very closely. I would suggest that smaller position sizes and wider stops are used.\r\n\r\nOil and the continuing middle-east issues will keep the USD in check, as well Oil related currencies such as CAD, NOK and MXN.\r\n\r\nWe also have China data this week so that alerts us with regards to the AUD and NZD pairs.\r\n\r\nThe UK election places you on GBP alert.\r\n\r\nNow, which pairs have I not mentioned!!!!\r\n\r\nAh ha…. the JPY - U.S. treasuries need to be watched so that brings in the USD/JPY.\r\n\r\nSo there you have it, all currency pairs have potential red lights - you can’t trade - take the week off!\r\n\r\nBasically, we will trade. But we need to be aware of the factors around us that can affect pricing in an instant. Trade smaller with wider stops to cope with the volatility.\r\n\r\nWe will have opportunities to make $$$, we just have to be alert and careful.\r\n\r\nAs always, there will be trades to trade and there will be some great opportunities, please trade in line with your RISK MANAGEMENT parameters from your TRADING PLAN. If you do not have a TRADE PLAN, in my opinion, you should, as this will help you with consistency.\r\n<p style=\"text-align: center;\"><strong>Consistency = longevity in trading and that is a critical goal.\r\nIT IS THE KEY MEASUREMENT</strong></p>\r\nBefore you enter a trade work out the risk, price it in $$$. 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\nSunday April 19th 2015\r\n\r\nEMAIL / FOLLOW ME AT:\r\nEmail: drivethru@weeklyfxdrivethru.com\r\nTwitter: @pipaccumulator\r\nGoogle+/scottpickering\r\nTumblr: thepipaccumulator\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<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 do.','GREECE – JUST WAITING FOR THE FAT LADY TO SING!','','inherit','open','closed','','5800-revision-v1','','','2015-04-18 13:27:26','2015-04-18 18:27:26','',5800,'https://weeklyfxdrivethru.com/5800-revision-v1/',0,'revision','',0),(5802,1,'2015-04-18 13:28:52','2015-04-18 18:28:52','<p style=\"text-align: center;\"><strong>THE PREMIUM SERVICE\r\n</strong><strong>The Home of Single-Lot Trading\r\n</strong><strong style=\"line-height: 1.5;\">www.weeklyfxdrivethru.com</strong></p>\r\n<strong>DATE: 19.04.2015\r\nREFERENCE: #149\r\n</strong><strong>BLOG: THE WEEKLY FX DRIVE THRU</strong>\r\n\r\n&nbsp;\r\n<ol>\r\n	<li><strong> INTRODUCTION - MY OVERVIEW OF THE FOREX MARKET:</strong></li>\r\n</ol>\r\n<span style=\"text-decoration: underline;\">LOOKING BACKWARDS, FORWARDS &amp; SIDEWAYS (FOR GOOD MEASURE) AT THE FX MARKET:</span>\r\n\r\n<span style=\"text-decoration: underline;\">1.1 - LOOKING BACKWARDS:</span>\r\n\r\nThere were three news events last week that I want to mention.\r\n\r\n<span style=\"text-decoration: underline;\">ECB – RATE STATEMENT:</span>\r\n\r\nIn my opinion one of the most boring ECB Press Conferences in history, well, at lease since I started trading. The real excitement was the female protestor jumping onto the front desk covering Draghi in confetti.\r\n\r\nIn recent weeks EUROZONE data has been improving so Draghi had an easy ride for a change. He was bullish on the following points: -\r\n<ul>\r\n	<li>The cyclical recovery in the euro area has strengthened.</li>\r\n	<li>The Asset Purchase program has been successful.</li>\r\n	<li>The program is flexible and will run until September 2016, or until there is a sustained increase in inflation.</li>\r\n	<li>The ECB has no difficulties in finding bonds to purchase.</li>\r\n	<li>Any concerns about bond scarcity are “premature”.</li>\r\n	<li>ECB exposure to GREECE is €110 billion (largest to any EUROZONE member).</li>\r\n</ul>\r\nFrom a trading perspective, I took nothing new from this statement at all. My FUNDAMENTAL views relating to the EUROZONE have not altered.\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">BOC MEETING MINUTES:</span>\r\n\r\nBy comparison to the ECB meeting, Stephen Poloz, BOC Governor was quite HAWKISH in his comments. This sent the USD/CAD into a tailspin lower taking out support after support level. The fact that WTi was rallying at the same time further exacerbated the strength of the CAD and the entire cross rates fell as well.\r\n\r\nThe crosses have made modest recoveries since last Wednesday and look very oversold, but as the CAD currency appears to be treated like the MXN and NOK as a proxy for the OIL price, it is moves in Oil that seem to dictate the direction of the USD/CAD.\r\n\r\nMoving forward, I think we treat the CAD as we have for the past few weeks. OIL up the CAD strengthens…OIL down the CAD weakens…\r\n\r\nThe entire CAD related pairs look great buys at these low levels. Check out the charts later (section 4.5), I am thinking of a couple of smaller position sized lower risk trades.\r\n\r\nThe one aspect about the Forex market is that there are always opportunities, but the risks have to be managed.\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">CHINA GDP:</span>\r\n\r\nChina GDP printed at 7%.\r\n\r\nA few years ago if this number were printed there would have been an almighty reaction and comments about the end of the world would have featured in the press. I was a little surprised that we did not get much of a follow through with the AUD and NZD currencies after this data release.\r\n\r\nIt is so strange now; news is reacted to and then just forgotten so quickly.\r\n\r\nIt has been such a long time since I have written we are either in a RISK OFF or RISK ON environment. The currency wars have really stopped all this. The “rock star” central bank presidents and governors have taken so much joy out of trading.\r\n\r\nThe CHINA data represents weakening in the “sweat room” of the world, and, people such as Mark Faber (Doom, Gloom and Boom report), actually believe the true China GDP figure is closer to 5%; who knows?\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">GEOPOLITICAL EVENTS:</span>\r\n<ol>\r\n	<li><span style=\"text-decoration: underline;\"> GREECE:</span></li>\r\n</ol>\r\nThe GREECE situation is just not going to go away.\r\n\r\nIn my opinion, the negative comments about the Greek negotiations made by Wolfgang Schaeuble, the German Finance minister, acted only to fan the flames and frankly I believe the whole subject would be better served if he kept his “GOB” firmly closed. He may be Merkel’s mouthpiece, pit bull or assassin of hope, however, his comments and negativity are just draining on the whole subject. Frankly, he has reached the point when I no longer look to his comments for inspiration; it is now more of a case of what has that silly old bastard said now!!\r\n\r\nI am writing about GREECE later and will revisit this again; I will NOT be able to stop my self for any repetition. I apologise in advance.\r\n\r\n&nbsp;\r\n<ol start=\"2\">\r\n	<li><span style=\"text-decoration: underline;\"> OIL – YEMEN – IRAN:</span></li>\r\n</ol>\r\nNo change it is now becoming a real humanitarian issue. It is a case of over there rather than over here and OIL is getting through, so no-one real has it high on their agendas.\r\n\r\nThis is just getting messier by the day. I cannot see an end game here in the short-term.\r\n\r\nThe IRAN nuclear issue has gone quiet again over the matter of trust. Nothing new with this one, no one trusts anyone. What a great world we live in.\r\n\r\nFrom a trading perspective, OIL supplies are not threatened\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">1.2 - LOOKING FORWARDS:</span>\r\n\r\n<span style=\"text-decoration: underline;\">MAJOR FOREX NEWS THIS WEEK THAT INTERESTS ME:\r\n</span>(There are many more news items related to the Forex Market than the ones listed below. These are the ones that interest me. You can go to <a href=\"http://www.forexfasctory.com\">www.forexfactory.com</a> and <a href=\"http://www.tradingeconomics.com\">www.tradingeconomics.com</a> for more comprehensive lists of all news events that are Forex related).\r\nSUNDAY: NZD - CPi.\r\nSUNDAY: CNY – HSBC Flash Manufacturing PMI\r\n\r\nMONDAY: EUR – German &amp; French Manufacturing PMi.\r\nMONDAY: AUD – Monetary Policy Meeting Minutes.\r\n\r\nTUESDAY: EUR – German ZEW Economic Sentiment.\r\nTUESDAY: AUD - CPi.\r\n\r\nWEDNESDAY: N/A.\r\n\r\nTHURSDAY: N/A.\r\n\r\nFRIDAY: N/A.\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">MY THOUGHTS:</span>\r\n\r\nFrom my interest viewpoint, it looks like a very light week on economic data.\r\n\r\nI have a feeling however, that we will have a busy week with GREECE. So this will not be a time to do spring gardening, decorating etc.…\r\n\r\nI may be able to move my trading to the terrace if the weather holds up but I am expecting some twists and turns and no doubt some irrational squeezes in the coming week just to piss me off!!\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">CHINA:</span>\r\n\r\nBe prepared for the possibility of strong sell-offs in equities in the coming week. It appears that the authorities in China are about to actively support “short-selling” of equities in a big way.\r\n\r\nI wrote last week that over a million new trading accounts per month were being added to China brokerages and basically, all this means is that the new “players” buy, buy and buy some more.\r\n\r\nIt does appear that the bubble conscious authorities in China have suddenly realized the monster that has been created and now they are going to act by supporting “short-selling”.\r\n\r\nBear this in mind because no matter how much of a heads up we have this will affect currencies.\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">1.3 - LOOKING SIDEWAYS (FOR GOOD MEASURE):\r\n</span>\r\n\r\n<span style=\"text-decoration: underline;\">FOREX MARKET CONDITIONS:</span>\r\n\r\nDare I say it, but we had a 48-hour period of reasonable normality in the markets. Correlations came into sync and we were able to trade with relative confidence given that we had a backdrop of geopolitical tensions dotted here and there.\r\n\r\nOne factor that is resonating more and more with me is “King USD”. It is still the flight to safety when all things matter.\r\n\r\nHow the market treats the USD, pretty much dominates all things Forex. Let me elaborate a little.\r\n\r\nThe China GDP print at 7% was a devastating number in particular for the AUD and NZD, as expected they weakened across the board. However, within 36 hours the AUD/USD and NZD/USD were breaking new trend highs on the back of USD weakness.\r\n\r\nAs a FUNDAMENTAL trader first, then TECHNICAL, this is extremely difficult for me to initially deal with and my first reaction is caution in the sense of do not believe the move. The markets are what they are and there is very little logic at times, I suppose this is what makes the Forex market so interesting, but at the same time annoying to trade.\r\n\r\nIn 2014, I found myself trading less and being in trades longer. This year the markets are so “skittish” I am trading more for less income per trade.\r\n\r\nI know that I am not alone in this and I am also advised from PREMIUM SERVICE subscribers, that as a result in 2015, trading conditions compared to 2014 showed that the swings in account balances have been greater than ever. Two or three good days are then followed by a bad day. This is something that I am trying my best to eradicate but unfortunately it very difficult.\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">FOREX LIQUIDITY:\r\n</span>(This short segment was in last week’s blog. It is so relevant to matters now I have left it in this week as well so that new readers can capture the content)\r\n\r\nI read in the Financial Times last week that the Forex Market, which is now a USD$5.3 trillion a day on average marketplace, has a problem (Over the past few weeks I have been moaning about too many squeezes and weird market trading conditions).\r\n\r\nIt appears the mechanics of the market have been drawn into question. Is there a decline, or cyclical decline in Forex trading? I would say that it was noted recently that some of the banks who traded Forex were cutting back after taking some heavy losses.\r\n\r\nWithout doubt greater regulation in the banking industry is weeding out the “under the counter cheating” that took place and is becoming very quickly a trait of the past. I know for a fact that thousands of retail traders left after the SNB. Over leveraged accounts were wiped out.\r\n\r\nWithout doubt we see much larger volatile moves and if you are caught the wrong way it can be very painful.\r\n\r\nTo cover this volatility many of the banks have widened the spreads offered to their supporting brokers. This has resulted in many retail traders closing their accounts and no longer trading FOREX. Without doubt if banks lose money they will protect themselves and they will have a lower risk appetite. I think I wrote that in February this year daily volumes compared with January were lower by 16%. This is a significant number.\r\n\r\nAs if we do not have enough to consider, we now have a permanent liquidity fear if one of the major FX banks is absent from the market for a few moments…. just brilliant… just great.\r\n\r\nForex trading is an evolving market and is going through changes. All we can do is get the head down, look for high probability trades, set the best stops we can based on our RISK TOLERANCES and trade.\r\n\r\nLike so many of you, I still find trading conditions quite difficult. I seem to be moving forwards and then backwards to move forwards again. It is very, very frustrating.\r\n\r\nThe PREMIUM SERVICE still moves forward in these sticky / changing conditions, so I am obviously delighted. It is much harder than last year but we still move forwards despite all that is thrown in our direction.\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><strong> </strong></li>\r\n</ol>\r\n<p style=\"text-align: center;\"><span style=\"text-decoration: underline;\"><strong>GREECE – </strong><strong>JUST WAITING FOR THE FAT LADY TO SING!</strong></span></p>\r\nOf late there has been so much written, and so much speculation in the media on this topic. Frankly when I wrote my article in the blog dated April 5<sup>th</sup> “Does Merkel Have The Balls To Risk A Contagion”, deep down I thought that when push comes to a shove that Germany would back down.\r\n\r\nRecent comments from Merkel’s “Pit-bull”, Wolfgang Schaeuble (German Finance Minister), would indicate that the Germans are prepared for a GREXIT. Without doubt on May 1<sup>st</sup> and May 12<sup>th</sup> the Greek government has payments due to the IMF totaling €200 million and €763 million respectively and I just cannot see these payments being made given the current set of circumstances.\r\n\r\nWe therefore, will have a default on our hands.\r\n\r\nWhat does this mean for GREECE and the EUROZONE?\r\n\r\nFor GREECE, it would be devastating. Already I have read about Greek importers having credit lines removed from suppliers who originate outside of GREECE. All imports have to be paid in full prior to shipment.\r\n\r\nEarlier last week there was a leaked IMF document that showed that calculations on the Tax and Income effect from changes requested by the Trioka were incorrectly calculated. The relationship between changes in direct and indirect tax when added to a reduction in government spending and the effect that this would have on GDP were not calculated accurately. These Fiscal Multipliers that form the benchmark of a governments annual accounts were screwed and no matter what GREECE was able to do it would never be enough.\r\n\r\nThe alleged long-term solution was so drastic it set GREECE back instead of allowing a gradual move forward. A situation that would take effectively decades to fix was fixed at a stroke of a pen overnight…. or not as the case is.\r\n\r\nI read only a few days ago in passing that even if GREECE had a GDP rate of 10% per annum for the next 5 years they would still be no better off and could not effectively manage.\r\n\r\nWhat is the point of a bailout for a country that simply cannot pay at any price?\r\n\r\nGreek debt totals about €323 billion. Of this total about €15 billion is held by Greek banks and a further €246 billion by the ECB and other EUROZONE banks.\r\n\r\nAnyone who says that a Greek default would not really affect the EUROZONE and in fact the EUROZONE would be stronger without GREECE, needs to grab the concept of market uncertainty and contagion.\r\n\r\nFor the EUROZONE, the financial numbers will create market uncertainty and whilst they would be considered somewhat nominal, there would be a negative effect.\r\n\r\nThe bigger risk however is contagion. If a GREXIT occurs, every far right party and every anti-Europe, anti-Brussels party in the EUROZONE would be on RED alert. If GREECE can return to the Drachma we will go back to whatever….\r\n\r\nThis is the contagion risk that could break up the EUROZONE, as we know it today. It could happen. Very few people in the EUROZONE actually voted for the single-currency. There could be fireworks ahead.\r\n\r\nSo what happens next, if GREECE defaults? By the way, there is NO SUCH THING AS AN ORDERLY DEFAULT. You can be prepared but you will not know when it will happen. Here are some possible scenarios:\r\n<ol>\r\n	<li>The Athens government in Greece announces capital controls.</li>\r\n	<li>GREECE issues basically IOU’s to pay for essential services.</li>\r\n	<li>The Drachma is re-introduced and operates alongside the EUR until the EUR is totally withdrawn.</li>\r\n	<li>There is huge confusion over the potential value of the Drachma versus the EUR and people are reluctant to hold the new currency. This creates a potential run on the banks probably across parts of Europe, in particular the periphery. In GREECE capital controls basically freeze accounts and only Drachmas can be withdrawn.</li>\r\n	<li>Possible Capital Controls in other periphery countries banks as rumours of more potential exits of the EUROZONE hit the newswires and the populations around the EUROZONE see how GREECE coped, or didn’t with the transfer.</li>\r\n	<li>Emergency ECB measures on movement of monies throughout the EUROZONE.</li>\r\n	<li>Emergency ECB measures for EUROZONE state banks to hold monies overnight.</li>\r\n	<li>ECB bank guarantees bank deposits throughout the EUROZONE.</li>\r\n	<li>The EUR/USD is now sub-parity towards 0.9600.</li>\r\n	<li>Huge uncertainty in GREECE as the Greek people protest riots in Athens.</li>\r\n	<li>The blame game between Athens and the EUROGROUP reaches new levels over who didn\'t trust whom, causing political uncertainty in other EUROZONE countries. Stability is threatened.</li>\r\n	<li>We have a contagion effect.</li>\r\n</ol>\r\nIf there is an eleventh hour solution it will probably be yet another fudge by Merkel to buy time so that the EUROZONE central banks can offload a potential future Greek default situation into the ECB.\r\n\r\nPersonally, I think that the Greek government knows what they are going to do and are scheduling an emergency timetable to minimalize all the risks associated with a default.\r\n\r\nI wrote a few weeks ago about trust within the relationships in the EUROZONE, not just the trust issues that are so apparent between GREECE and GERMANY but within the other relationships that exist. The EUROZONE is the name given to the countries within the EUROPEAN UNION that adopt the single currency. However the entire area of Europe with all partners is called the EUROPEAN UNION, this encompasses members who do not use the single currency such as the UK, Sweden, Norway and Denmark. The UNION stands out…”UNION my arse”, most issues inside EUROPE are so far away from a UNION status it re-defines the word.\r\n\r\nI am amazed at the market complacency surrounding this and the EUR/USD trading above 1.0800, I just cannot fathom.\r\n\r\nI cannot see a way out other than a GREXIT and the on-going contagion games will begin. Whilst you cannot attribute blame to GREECE for this mess the EUROGROUP and TRIOKA are equally at fault with setting financial goals, objectives and measures that the Greek economy could not support in anyway shape or form.\r\n\r\nNow we have the “Pit-bull” (Schaeuble) acting out a modern Pontius Pilate routine in front of the world’s media. It is a bloody disgrace how GREECE got here, but my God what a UNION!!!\r\n\r\nI await the Reuters feed soon with the news.\r\n\r\n&nbsp;\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 and SUBSCRIPTION PRICING:</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<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/PS-SUBSCRIPTION-COSTS-05042015.png\"><img class=\"aligncenter size-full wp-image-5668\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/PS-SUBSCRIPTION-COSTS-05042015.png\" alt=\"PS SUBSCRIPTION COSTS 05042015\" width=\"380\" height=\"473\" /></a>\r\n\r\nCOMING SOON - SILVER &amp; GOLD - PREMIUM SERVICE MEMBER STATUS:\r\n\r\n&nbsp;\r\n\r\nRegular readers will be aware that during the past couple of months I have been upgrading speeds and revising content and deliverables within the PREMIUM SERVICE.\r\n\r\nAll of my subscribers were contacted for views about the potential changes and ideas moving forward. Many items have been addressed already, but, others require additional work “behind the scenes” to implement.\r\n\r\nOne of the suggestions was create a two-tier approach to the subscription of the PREMIUM SERVICE.\r\n\r\nBasically this is what is proposed and on the table: -\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">GOLD MEMBER STATUS:</span>\r\n<ul>\r\n	<li>100% access to the PREMIUM SERVICE website.</li>\r\n	<li>A dedicated exclusive twitter feed for GOLD subscribers only @ThePremService.</li>\r\n	<li>All trade set-ups communicated via Twitter and RADAR and FUNDAMENTAL trades additionally via email when possible.</li>\r\n	<li>The WEEKLY FX DRIVE THRU (access to the full and complete version) delivered weekly via an emailed PDF, and, viewable on line inside the PREMIUM SERVICE secure section of <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a></li>\r\n	<li>My thoughts and comments on market conditions via twitter.</li>\r\n</ul>\r\nSubscriptions costs remain as they are (see above).\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">SILVER MEMBER STATUS:</span>\r\n<ul>\r\n	<li>A new dedicated exclusive twitter feed for SILVER subscribers only (TBA).</li>\r\n	<li>Limited access to the PREMIUM SERVICE website (trade information only).</li>\r\n	<li>The WEEKLY FX DRIVE THRU (the restricted version) delivered weekly via an emailed PDF and viewable online at <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a></li>\r\n</ul>\r\nSubscription costs for SILVER members will be advised soon. I am hoping to launch this within the next two / three weeks\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">3.2 - SUMMARY OF PERFORMANCE:</span>\r\n\r\n(Only the excel spreadsheets will now be shown in this section. References to previous, present and future trades “LAST WEEK’s TRADING REVIEW” will now be provided solely for the benefit of PREMIUM SERVICE subscribers and has been moved into section 4).\r\n\r\n<span style=\"text-decoration: underline;\">3.2.1 – PREMIUM SERVICE – COST INCOME ANALYSIS:</span>\r\n\r\n&nbsp;\r\n<p style=\"text-align: center;\"><span style=\"text-decoration: underline;\"><strong>EMANATING FROM TRADE SET-UPS - 2015 to date:</strong></span></p>\r\n<p style=\"text-align: center;\"><span style=\"text-decoration: underline;\">MICRO LOT TRADER</span> - 258 trades cost to trade = $25.80\r\n<strong>PROFIT</strong> from 258 trades = <strong><span style=\"text-decoration: underline;\">$363.00</span></strong></p>\r\n<p style=\"text-align: center;\"><span style=\"text-decoration: underline;\">MINI LOT TRADER</span> - 258 trades cost to trade = $258.00\r\n<strong>PROFIT</strong> from 258 trades = <strong><span style=\"text-decoration: underline;\">$3,630.00</span></strong></p>\r\n<p style=\"text-align: center;\"><span style=\"text-decoration: underline;\">STANDARD LOT TRADER</span> - 258 trades cost to trade = $2,580.00\r\n<strong>PROFIT</strong> from 258 trades = <strong><span style=\"text-decoration: underline;\">$36,300.00</span></strong></p>\r\n<p style=\"text-align: center;\"><strong><span style=\"text-decoration: underline;\">PLEASE NOTE:\r\n</span><span style=\"color: #0000ff;\">If this sort of risk/reward income opportunity interests you:</span></strong>\r\n<strong><span style=\"color: #0000ff;\">To join the PREMIUM SERVICE at the introductory level subscribe to the initial</span></strong>\r\n<strong><span style=\"color: #0000ff;\">4 week subscription and receive a 5<sup>th</sup> week FREE!!</span></strong>\r\n<strong><span style=\"color: #0000ff;\">See the PROMOTIONS tab on my landing page at</span></strong>\r\n<strong><span style=\"color: #0000ff;\">www.weeklyfxdrivrethru.com</span></strong></p>\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">3.2.2 - PREMIUM SERVICE - PROFIT/LOSS RATIOS:</span>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/PROFIT-LOSS-RATIO-19042015.png\"><img class=\"aligncenter size-full wp-image-5771\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/PROFIT-LOSS-RATIO-19042015.png\" alt=\"PROFIT-LOSS RATIO 19042015\" width=\"424\" height=\"586\" /></a>\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">3.2.3 - PREMIUM SERVICE - RISK/REWARD ANALYSIS:</span>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/RISK-REWARD-19042015.png\"><img class=\"aligncenter size-full wp-image-5772\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/RISK-REWARD-19042015.png\" alt=\"RISK-REWARD 19042015\" width=\"436\" height=\"555\" /></a>\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">3.2.4 - PREMIUM SERVICE - OVERALL TRADE SUMMARY MONTH &amp; YTD:</span>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/REM-SERV-PROFITS-1-19042015.png\"><img class=\"aligncenter size-full wp-image-5773\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/REM-SERV-PROFITS-1-19042015.png\" alt=\"REM SERV PROFITS 1 19042015\" width=\"461\" height=\"435\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/PREM-SERV-PROFITS-2-19042015.png\"><img class=\"aligncenter size-full wp-image-5774\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/PREM-SERV-PROFITS-2-19042015.png\" alt=\"PREM SERV PROFITS 2 19042015\" width=\"472\" height=\"421\" /></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\r\n<span style=\"text-decoration: underline;\">4.2 – THE PREMIUM SERVICE – TRADING REVIEW:</span>\r\n\r\n<span style=\"text-decoration: underline;\">4.3 - THE PREMIUM SERVICE - EXISTING LIVE TRADES:</span>\r\n\r\n<span style=\"text-decoration: underline;\">4.4 - THE PREMIUM SERVICE – EXISTING LIMIT ORDERS:</span>\r\n\r\n<span style=\"text-decoration: underline;\">4.5 - POTENTIAL TRADES - WHAT CHARTS AM I LOOKING AT?</span>\r\n\r\n<span style=\"text-decoration: underline;\">4.6 - MAJOR TRADING PAIRS WITH LONGER-TERM TRENDS MATCHING:</span>\r\n\r\n<span style=\"text-decoration: underline;\">4.7 - THE KEY SUPPORT &amp; RESISTANCE LEVELS WITH THE USD MAJORS</span><strong><span style=\"text-decoration: underline;\">:\r\n</span></strong>\r\n\r\n&nbsp;\r\n<ol start=\"5\">\r\n	<li><strong><span style=\"text-decoration: underline;\"> THE CONCLUSION - MY FINAL THOUGHTS:</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...one less thing to worry about!\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">5.2 –TRADING TIPS &amp; THOUGHTS FOR THE WEEK AHEAD:</span>\r\n\r\nWe have a lot of geopolitical news hanging around so we must trade with tighter stops.\r\n\r\nGREECE is of major concern and any trades placed with EUR or CHF pairs should be monitored very closely. I would suggest that smaller position sizes and wider stops are used.\r\n\r\nOil and the continuing middle-east issues will keep the USD in check, as well Oil related currencies such as CAD, NOK and MXN.\r\n\r\nWe also have China data this week so that alerts us with regards to the AUD and NZD pairs.\r\n\r\nThe UK election places you on GBP alert.\r\n\r\nNow, which pairs have I not mentioned!!!!\r\n\r\nAh ha…. the JPY - U.S. treasuries need to be watched so that brings in the USD/JPY.\r\n\r\nSo there you have it, all currency pairs have potential red lights - you can’t trade - take the week off!\r\n\r\nBasically, we will trade. But we need to be aware of the factors around us that can affect pricing in an instant. Trade smaller with wider stops to cope with the volatility.\r\n\r\nWe will have opportunities to make $$$, we just have to be alert and careful.\r\n\r\nAs always, there will be trades to trade and there will be some great opportunities, please trade in line with your RISK MANAGEMENT parameters from your TRADING PLAN. If you do not have a TRADE PLAN, in my opinion, you should, as this will help you with consistency.\r\n<p style=\"text-align: center;\"><strong>Consistency = longevity in trading and that is a critical goal.\r\nIT IS THE KEY MEASUREMENT</strong></p>\r\nBefore you enter a trade work out the risk, price it in $$$. 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\nSunday April 19th 2015\r\n\r\nEMAIL / FOLLOW ME AT:\r\nEmail: drivethru@weeklyfxdrivethru.com\r\nTwitter: @pipaccumulator\r\nGoogle+/scottpickering\r\nTumblr: thepipaccumulator\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<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 do.','GREECE – JUST WAITING FOR THE FAT LADY TO SING!','','inherit','open','closed','','5800-revision-v1','','','2015-04-18 13:28:52','2015-04-18 18:28:52','',5800,'https://weeklyfxdrivethru.com/5800-revision-v1/',0,'revision','',0),(5809,1,'2015-04-19 06:13:26','2015-04-19 11:13:26','<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</h2>\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/RISK-REWARD-19042015.png\"><img class=\"aligncenter size-full wp-image-5772\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/RISK-REWARD-19042015.png\" alt=\"RISK-REWARD 19042015\" width=\"436\" height=\"555\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n</div>\r\n<div class=\"one-half\">\r\n<h2>PREVIOUS YEARS</h2>\r\n<h2><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','','','2015-04-19 06:13:26','2015-04-19 11:13:26','',5006,'https://weeklyfxdrivethru.com/5006-revision-v1/',0,'revision','',0),(5810,1,'2015-04-19 06:14:26','2015-04-19 11:14:26','<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<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/STEPS-TO-TAKE-WHEN-FACED-WITH-STRESSFUL-FOREX-SITUATIONS.pdf\">STEPS TO TAKE WHEN FACED WITH STRESSFUL FOREX SITUATIONS</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<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/THE-5-MOST-COMMON-MISTAKES-NEWBIE-TRADERS-MAKE.pdf\">THE 5 MOST COMMON MISTAKES NEWBIE TRADERS MAKE</a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/THE-CRITICAL-SUCCESS-FACTORS-YOU-NEED-TO-BECOME-A-SUCCESSFUL-TRADER.pdf\">THE CRITICAL SUCCESS FACTORS YOU NEED TO BECOME A SUCCESSFUL TRADER</a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/FOUR-PSYCHOLOGICAL-PITFALLS-THAT-WILL-BLOW-YOUR-ACCOUNT.pdf\">FOUR PSYCHOLOGICAL PITFALLS THAT WILL BLOW YOUR ACCOUNT</a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/THE-MOST-OVERLOOKED-RISKS-IN-TRADING-AND-HOW-TO-ADDRESS-THEM.pdf\">THE MOST OVERLOOKED RISKS IN TRADING AND HOW TO ADDRESS THEM</a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/HOW-MUCH-TRADING-CAPITAL-DO-YOU-NEED-FOR-FOREX-TRADING.pdf\">HOW MUCH TRADING CAPITAL DO YOU NEED FOR FOREX TRADING</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','','','2015-04-19 06:14:26','2015-04-19 11:14:26','',2538,'https://weeklyfxdrivethru.com/2538-revision-v1/',0,'revision','',0),(5811,1,'2015-04-19 06:25:53','2015-04-19 11:25:53','<p style=\"text-align: center;\"><strong>THE PREMIUM SERVICE\r\n</strong><strong>The Home of Single-Lot Trading\r\n</strong><strong style=\"line-height: 1.5;\">www.weeklyfxdrivethru.com</strong></p>\r\n<strong>DATE: 19.04.2015\r\nREFERENCE: #149\r\n</strong><strong>BLOG: THE WEEKLY FX DRIVE THRU</strong>\r\n\r\n&nbsp;\r\n<ol>\r\n	<li><strong> INTRODUCTION - MY OVERVIEW OF THE FOREX MARKET:</strong></li>\r\n</ol>\r\n<span style=\"text-decoration: underline;\">LOOKING BACKWARDS, FORWARDS &amp; SIDEWAYS (FOR GOOD MEASURE) AT THE FX MARKET:</span>\r\n\r\n<span style=\"text-decoration: underline;\">1.1 - LOOKING BACKWARDS:</span>\r\n\r\nThere were three news events last week that I want to mention.\r\n\r\n<span style=\"text-decoration: underline;\">ECB – RATE STATEMENT:</span>\r\n\r\nIn my opinion one of the most boring ECB Press Conferences in history, well, at lease since I started trading. The real excitement was the female protestor jumping onto the front desk covering Draghi in confetti.\r\n\r\nIn recent weeks EUROZONE data has been improving so Draghi had an easy ride for a change. He was bullish on the following points: -\r\n<ul>\r\n	<li>The cyclical recovery in the euro area has strengthened.</li>\r\n	<li>The Asset Purchase program has been successful.</li>\r\n	<li>The program is flexible and will run until September 2016, or until there is a sustained increase in inflation.</li>\r\n	<li>The ECB has no difficulties in finding bonds to purchase.</li>\r\n	<li>Any concerns about bond scarcity are “premature”.</li>\r\n	<li>ECB exposure to GREECE is €110 billion (largest to any EUROZONE member).</li>\r\n</ul>\r\nFrom a trading perspective, I took nothing new from this statement at all. My FUNDAMENTAL views relating to the EUROZONE have not altered.\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">BOC MEETING MINUTES:</span>\r\n\r\nBy comparison to the ECB meeting, Stephen Poloz, BOC Governor was quite HAWKISH in his comments. This sent the USD/CAD into a tailspin lower taking out support after support level. The fact that WTi was rallying at the same time further exacerbated the strength of the CAD and the entire cross rates fell as well.\r\n\r\nThe crosses have made modest recoveries since last Wednesday and look very oversold, but as the CAD currency appears to be treated like the MXN and NOK as a proxy for the OIL price, it is moves in Oil that seem to dictate the direction of the USD/CAD.\r\n\r\nMoving forward, I think we treat the CAD as we have for the past few weeks. OIL up the CAD strengthens…OIL down the CAD weakens…\r\n\r\nThe entire CAD related pairs look great buys at these low levels. Check out the charts later (section 4.5), I am thinking of a couple of smaller position sized lower risk trades.\r\n\r\nThe one aspect about the Forex market is that there are always opportunities, but the risks have to be managed.\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">CHINA GDP:</span>\r\n\r\nChina GDP printed at 7%.\r\n\r\nA few years ago if this number were printed there would have been an almighty reaction and comments about the end of the world would have featured in the press. I was a little surprised that we did not get much of a follow through with the AUD and NZD currencies after this data release.\r\n\r\nIt is so strange now; news is reacted to and then just forgotten so quickly.\r\n\r\nIt has been such a long time since I have written we are either in a RISK OFF or RISK ON environment. The currency wars have really stopped all this. The “rock star” central bank presidents and governors have taken so much joy out of trading.\r\n\r\nThe CHINA data represents weakening in the “sweat room” of the world, and, people such as Mark Faber (Doom, Gloom and Boom report), actually believe the true China GDP figure is closer to 5%; who knows?\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">GEOPOLITICAL EVENTS:</span>\r\n<ol>\r\n	<li><span style=\"text-decoration: underline;\"> GREECE:</span></li>\r\n</ol>\r\nThe GREECE situation is just not going to go away.\r\n\r\nIn my opinion, the negative comments about the Greek negotiations made by Wolfgang Schaeuble, the German Finance minister, acted only to fan the flames and frankly I believe the whole subject would be better served if he kept his “GOB” firmly closed. He may be Merkel’s mouthpiece, pit bull or assassin of hope, however, his comments and negativity are just draining on the whole subject. Frankly, he has reached the point when I no longer look to his comments for inspiration; it is now more of a case of what has that silly old bastard said now!!\r\n\r\nI am writing about GREECE later and will revisit this again; I will NOT be able to stop my self for any repetition. I apologise in advance.\r\n\r\n&nbsp;\r\n<ol start=\"2\">\r\n	<li><span style=\"text-decoration: underline;\"> OIL – YEMEN – IRAN:</span></li>\r\n</ol>\r\nNo change it is now becoming a real humanitarian issue. It is a case of over there rather than over here and OIL is getting through, so no-one real has it high on their agendas.\r\n\r\nThis is just getting messier by the day. I cannot see an end game here in the short-term.\r\n\r\nThe IRAN nuclear issue has gone quiet again over the matter of trust. Nothing new with this one, no one trusts anyone. What a great world we live in.\r\n\r\nFrom a trading perspective, OIL supplies are not threatened\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">1.2 - LOOKING FORWARDS:</span>\r\n\r\n<span style=\"text-decoration: underline;\">MAJOR FOREX NEWS THIS WEEK THAT INTERESTS ME:\r\n</span>(There are many more news items related to the Forex Market than the ones listed below. These are the ones that interest me. You can go to <a href=\"http://www.forexfasctory.com\">www.forexfactory.com</a> and <a href=\"http://www.tradingeconomics.com\">www.tradingeconomics.com</a> for more comprehensive lists of all news events that are Forex related).\r\nSUNDAY: NZD - CPi.\r\nSUNDAY: CNY – HSBC Flash Manufacturing PMI\r\n\r\nMONDAY: EUR – German &amp; French Manufacturing PMi.\r\nMONDAY: AUD – Monetary Policy Meeting Minutes.\r\n\r\nTUESDAY: EUR – German ZEW Economic Sentiment.\r\nTUESDAY: AUD - CPi.\r\n\r\nWEDNESDAY: N/A.\r\n\r\nTHURSDAY: N/A.\r\n\r\nFRIDAY: N/A.\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">MY THOUGHTS:</span>\r\n\r\nFrom my interest viewpoint, it looks like a very light week on economic data.\r\n\r\nI have a feeling however, that we will have a busy week with GREECE. So this will not be a time to do spring gardening, decorating etc.…\r\n\r\nI may be able to move my trading to the terrace if the weather holds up but I am expecting some twists and turns and no doubt some irrational squeezes in the coming week just to piss me off!!\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">CHINA:</span>\r\n\r\nBe prepared for the possibility of strong sell-offs in equities in the coming week. It appears that the authorities in China are about to actively support “short-selling” of equities in a big way.\r\n\r\nI wrote last week that over a million new trading accounts per month were being added to China brokerages and basically, all this means is that the new “players” buy, buy and buy some more.\r\n\r\nIt does appear that the bubble conscious authorities in China have suddenly realized the monster that has been created and now they are going to act by supporting “short-selling”.\r\n\r\nBear this in mind because no matter how much of a heads up we have this will affect currencies.\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">1.3 - LOOKING SIDEWAYS (FOR GOOD MEASURE):\r\n</span>\r\n\r\n<span style=\"text-decoration: underline;\">FOREX MARKET CONDITIONS:</span>\r\n\r\nDare I say it, but we had a 48-hour period of reasonable normality in the markets. Correlations came into sync and we were able to trade with relative confidence given that we had a backdrop of geopolitical tensions dotted here and there.\r\n\r\nOne factor that is resonating more and more with me is “King USD”. It is still the flight to safety when all things matter.\r\n\r\nHow the market treats the USD, pretty much dominates all things Forex. Let me elaborate a little.\r\n\r\nThe China GDP print at 7% was a devastating number in particular for the AUD and NZD, as expected they weakened across the board. However, within 36 hours the AUD/USD and NZD/USD were breaking new trend highs on the back of USD weakness.\r\n\r\nAs a FUNDAMENTAL trader first, then TECHNICAL, this is extremely difficult for me to initially deal with and my first reaction is caution in the sense of do not believe the move. The markets are what they are and there is very little logic at times, I suppose this is what makes the Forex market so interesting, but at the same time annoying to trade.\r\n\r\nIn 2014, I found myself trading less and being in trades longer. This year the markets are so “skittish” I am trading more for less income per trade.\r\n\r\nI know that I am not alone in this and I am also advised from PREMIUM SERVICE subscribers, that as a result in 2015, trading conditions compared to 2014 showed that the swings in account balances have been greater than ever. Two or three good days are then followed by a bad day. This is something that I am trying my best to eradicate but unfortunately it very difficult.\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">FOREX LIQUIDITY:\r\n</span>(This short segment was in last week’s blog. It is so relevant to matters now I have left it in this week as well so that new readers can capture the content)\r\n\r\nI read in the Financial Times last week that the Forex Market, which is now a USD$5.3 trillion a day on average marketplace, has a problem (Over the past few weeks I have been moaning about too many squeezes and weird market trading conditions).\r\n\r\nIt appears the mechanics of the market have been drawn into question. Is there a decline, or cyclical decline in Forex trading? I would say that it was noted recently that some of the banks who traded Forex were cutting back after taking some heavy losses.\r\n\r\nWithout doubt greater regulation in the banking industry is weeding out the “under the counter cheating” that took place and is becoming very quickly a trait of the past. I know for a fact that thousands of retail traders left after the SNB. Over leveraged accounts were wiped out.\r\n\r\nWithout doubt we see much larger volatile moves and if you are caught the wrong way it can be very painful.\r\n\r\nTo cover this volatility many of the banks have widened the spreads offered to their supporting brokers. This has resulted in many retail traders closing their accounts and no longer trading FOREX. Without doubt if banks lose money they will protect themselves and they will have a lower risk appetite. I think I wrote that in February this year daily volumes compared with January were lower by 16%. This is a significant number.\r\n\r\nAs if we do not have enough to consider, we now have a permanent liquidity fear if one of the major FX banks is absent from the market for a few moments…. just brilliant… just great.\r\n\r\nForex trading is an evolving market and is going through changes. All we can do is get the head down, look for high probability trades, set the best stops we can based on our RISK TOLERANCES and trade.\r\n\r\nLike so many of you, I still find trading conditions quite difficult. I seem to be moving forwards and then backwards to move forwards again. It is very, very frustrating.\r\n\r\nThe PREMIUM SERVICE still moves forward in these sticky / changing conditions, so I am obviously delighted. It is much harder than last year but we still move forwards despite all that is thrown in our direction.\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><strong> </strong></li>\r\n</ol>\r\n<p style=\"text-align: center;\"><span style=\"text-decoration: underline;\"><strong>GREECE – </strong><strong>JUST WAITING FOR THE FAT LADY TO SING!</strong></span></p>\r\nOf late there has been so much written, and so much speculation in the media on this topic. Frankly when I wrote my article in the blog dated April 5<sup>th</sup> “Does Merkel Have The Balls To Risk A Contagion”, deep down I thought that when push comes to a shove that Germany would back down.\r\n\r\nRecent comments from Merkel’s “Pit-bull”, Wolfgang Schaeuble (German Finance Minister), would indicate that the Germans are prepared for a GREXIT. Without doubt on May 1<sup>st</sup> and May 12<sup>th</sup> the Greek government has payments due to the IMF totaling €200 million and €763 million respectively and I just cannot see these payments being made given the current set of circumstances.\r\n\r\nWe therefore, will have a default on our hands.\r\n\r\nWhat does this mean for GREECE and the EUROZONE?\r\n\r\nFor GREECE, it would be devastating. Already I have read about Greek importers having credit lines removed from suppliers who originate outside of GREECE. All imports have to be paid in full prior to shipment.\r\n\r\nEarlier last week there was a leaked IMF document that showed that calculations on the Tax and Income effect from changes requested by the Trioka were incorrectly calculated. The relationship between changes in direct and indirect tax when added to a reduction in government spending and the effect that this would have on GDP were not calculated accurately. These Fiscal Multipliers that form the benchmark of a governments annual accounts were screwed and no matter what GREECE was able to do it would never be enough.\r\n\r\nThe alleged long-term solution was so drastic it set GREECE back instead of allowing a gradual move forward. A situation that would take effectively decades to fix was fixed at a stroke of a pen overnight…. or not as the case is.\r\n\r\nI read only a few days ago in passing that even if GREECE had a GDP rate of 10% per annum for the next 5 years they would still be no better off and could not effectively manage.\r\n\r\nWhat is the point of a bailout for a country that simply cannot pay at any price?\r\n\r\nGreek debt totals about €323 billion. Of this total about €15 billion is held by Greek banks and a further €246 billion by the ECB and other EUROZONE banks.\r\n\r\nAnyone who says that a Greek default would not really affect the EUROZONE and in fact the EUROZONE would be stronger without GREECE, needs to grab the concept of market uncertainty and contagion.\r\n\r\nFor the EUROZONE, the financial numbers will create market uncertainty and whilst they would be considered somewhat nominal, there would be a negative effect.\r\n\r\nThe bigger risk however is contagion. If a GREXIT occurs, every far right party and every anti-Europe, anti-Brussels party in the EUROZONE would be on RED alert. If GREECE can return to the Drachma we will go back to whatever….\r\n\r\nThis is the contagion risk that could break up the EUROZONE, as we know it today. It could happen. Very few people in the EUROZONE actually voted for the single-currency. There could be fireworks ahead.\r\n\r\nSo what happens next, if GREECE defaults? By the way, there is NO SUCH THING AS AN ORDERLY DEFAULT. You can be prepared but you will not know when it will happen. Here are some possible scenarios:\r\n<ol>\r\n	<li>The Athens government in Greece announces capital controls.</li>\r\n	<li>GREECE issues basically IOU’s to pay for essential services.</li>\r\n	<li>The Drachma is re-introduced and operates alongside the EUR until the EUR is totally withdrawn.</li>\r\n	<li>There is huge confusion over the potential value of the Drachma versus the EUR and people are reluctant to hold the new currency. This creates a potential run on the banks probably across parts of Europe, in particular the periphery. In GREECE capital controls basically freeze accounts and only Drachmas can be withdrawn.</li>\r\n	<li>Possible Capital Controls in other periphery countries banks as rumours of more potential exits of the EUROZONE hit the newswires and the populations around the EUROZONE see how GREECE coped, or didn’t with the transfer.</li>\r\n	<li>Emergency ECB measures on movement of monies throughout the EUROZONE.</li>\r\n	<li>Emergency ECB measures for EUROZONE state banks to hold monies overnight.</li>\r\n	<li>ECB bank guarantees bank deposits throughout the EUROZONE.</li>\r\n	<li>The EUR/USD is now sub-parity towards 0.9600.</li>\r\n	<li>Huge uncertainty in GREECE as the Greek people protest riots in Athens.</li>\r\n	<li>The blame game between Athens and the EUROGROUP reaches new levels over who didn\'t trust whom, causing political uncertainty in other EUROZONE countries. Stability is threatened.</li>\r\n	<li>We have a contagion effect.</li>\r\n</ol>\r\nIf there is an eleventh hour solution it will probably be yet another fudge by Merkel to buy time so that the EUROZONE central banks can offload a potential future Greek default situation into the ECB.\r\n\r\nPersonally, I think that the Greek government knows what they are going to do and are scheduling an emergency timetable to minimalize all the risks associated with a default.\r\n\r\nI wrote a few weeks ago about trust within the relationships in the EUROZONE, not just the trust issues that are so apparent between GREECE and GERMANY but within the other relationships that exist. The EUROZONE is the name given to the countries within the EUROPEAN UNION that adopt the single currency. However the entire area of Europe with all partners is called the EUROPEAN UNION, this encompasses members who do not use the single currency such as the UK, Sweden, Norway and Denmark. The UNION stands out…”UNION my arse”, most issues inside EUROPE are so far away from a UNION status it re-defines the word.\r\n\r\nI am amazed at the market complacency surrounding this and the EUR/USD trading above 1.0800, I just cannot fathom.\r\n\r\nI cannot see a way out other than a GREXIT and the on-going contagion games will begin. Whilst you cannot attribute blame to GREECE for this mess the EUROGROUP and TRIOKA are equally at fault with setting financial goals, objectives and measures that the Greek economy could not support in anyway shape or form.\r\n\r\nNow we have the “Pit-bull” (Schaeuble) acting out a modern Pontius Pilate routine in front of the world’s media. It is a bloody disgrace how GREECE got here, but my God what a UNION!!!\r\n\r\nI await the Reuters feed soon with the news.\r\n\r\n&nbsp;\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 and SUBSCRIPTION PRICING:</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<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/PS-SUBSCRIPTION-COSTS-05042015.png\"><img class=\"aligncenter size-full wp-image-5668\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/PS-SUBSCRIPTION-COSTS-05042015.png\" alt=\"PS SUBSCRIPTION COSTS 05042015\" width=\"380\" height=\"473\" /></a>\r\n\r\nCOMING SOON - SILVER &amp; GOLD - PREMIUM SERVICE MEMBER STATUS:\r\n\r\nRegular readers will be aware that during the past couple of months I have been upgrading speeds and revising content and deliverables within the PREMIUM SERVICE.\r\n\r\nAll of my subscribers were contacted for views about the potential changes and ideas moving forward. Many items have been addressed already, but, others require additional work “behind the scenes” to implement.\r\n\r\nOne of the suggestions was create a two-tier approach to the subscription of the PREMIUM SERVICE.\r\n\r\nBasically this is what is proposed and on the table: -\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">GOLD MEMBER STATUS:</span>\r\n<ul>\r\n	<li>100% access to the PREMIUM SERVICE website.</li>\r\n	<li>A dedicated exclusive twitter feed for GOLD subscribers only @ThePremService.</li>\r\n	<li>All trade set-ups communicated via Twitter and RADAR and FUNDAMENTAL trades additionally via email when possible.</li>\r\n	<li>The WEEKLY FX DRIVE THRU (access to the full and complete version) delivered weekly via an emailed PDF, and, viewable on line inside the PREMIUM SERVICE secure section of <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a></li>\r\n	<li>My thoughts and comments on market conditions via twitter.</li>\r\n</ul>\r\nSubscriptions costs remain as they are (see above).\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">SILVER MEMBER STATUS:</span>\r\n<ul>\r\n	<li>A new dedicated exclusive twitter feed for SILVER subscribers only (TBA).</li>\r\n	<li>Limited access to the PREMIUM SERVICE website (trade information only).</li>\r\n	<li>The WEEKLY FX DRIVE THRU (the restricted version) delivered weekly via an emailed PDF and viewable online at <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a></li>\r\n</ul>\r\nSubscription costs for SILVER members will be advised soon. I am hoping to launch this within the next two / three weeks\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">3.2 - SUMMARY OF PERFORMANCE:</span>\r\n\r\n(Only the excel spreadsheets will now be shown in this section. References to previous, present and future trades “LAST WEEK’s TRADING REVIEW” will now be provided solely for the benefit of PREMIUM SERVICE subscribers and has been moved into section 4).\r\n\r\n<span style=\"text-decoration: underline;\">3.2.1 – PREMIUM SERVICE – COST INCOME ANALYSIS:</span>\r\n\r\n&nbsp;\r\n<p style=\"text-align: center;\"><span style=\"text-decoration: underline;\"><strong>EMANATING FROM TRADE SET-UPS - 2015 to date:</strong></span></p>\r\n<p style=\"text-align: center;\"><span style=\"text-decoration: underline;\">MICRO LOT TRADER</span> - 258 trades cost to trade = $25.80\r\n<strong>PROFIT</strong> from 258 trades = <strong><span style=\"text-decoration: underline;\">$363.00</span></strong></p>\r\n<p style=\"text-align: center;\"><span style=\"text-decoration: underline;\">MINI LOT TRADER</span> - 258 trades cost to trade = $258.00\r\n<strong>PROFIT</strong> from 258 trades = <strong><span style=\"text-decoration: underline;\">$3,630.00</span></strong></p>\r\n<p style=\"text-align: center;\"><span style=\"text-decoration: underline;\">STANDARD LOT TRADER</span> - 258 trades cost to trade = $2,580.00\r\n<strong>PROFIT</strong> from 258 trades = <strong><span style=\"text-decoration: underline;\">$36,300.00</span></strong></p>\r\n<p style=\"text-align: center;\"><strong><span style=\"text-decoration: underline;\">PLEASE NOTE:\r\n</span><span style=\"color: #0000ff;\">If this sort of risk/reward income opportunity interests you:</span></strong>\r\n<strong><span style=\"color: #0000ff;\">To join the PREMIUM SERVICE at the introductory level subscribe to the initial</span></strong>\r\n<strong><span style=\"color: #0000ff;\">4 week subscription and receive a 5<sup>th</sup> week FREE!!</span></strong>\r\n<strong><span style=\"color: #0000ff;\">See the PROMOTIONS tab on my landing page at</span></strong>\r\n<strong><span style=\"color: #0000ff;\">www.weeklyfxdrivrethru.com</span></strong></p>\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">3.2.2 - PREMIUM SERVICE - PROFIT/LOSS RATIOS:</span>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/PROFIT-LOSS-RATIO-19042015.png\"><img class=\"aligncenter size-full wp-image-5771\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/PROFIT-LOSS-RATIO-19042015.png\" alt=\"PROFIT-LOSS RATIO 19042015\" width=\"424\" height=\"586\" /></a>\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">3.2.3 - PREMIUM SERVICE - RISK/REWARD ANALYSIS:</span>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/RISK-REWARD-19042015.png\"><img class=\"aligncenter size-full wp-image-5772\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/RISK-REWARD-19042015.png\" alt=\"RISK-REWARD 19042015\" width=\"436\" height=\"555\" /></a>\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">3.2.4 - PREMIUM SERVICE - OVERALL TRADE SUMMARY MONTH &amp; YTD:</span>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/REM-SERV-PROFITS-1-19042015.png\"><img class=\"aligncenter size-full wp-image-5773\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/REM-SERV-PROFITS-1-19042015.png\" alt=\"REM SERV PROFITS 1 19042015\" width=\"461\" height=\"435\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/PREM-SERV-PROFITS-2-19042015.png\"><img class=\"aligncenter size-full wp-image-5774\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/PREM-SERV-PROFITS-2-19042015.png\" alt=\"PREM SERV PROFITS 2 19042015\" width=\"472\" height=\"421\" /></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\r\n<span style=\"text-decoration: underline;\">4.2 – THE PREMIUM SERVICE – TRADING REVIEW:</span>\r\n\r\n<span style=\"text-decoration: underline;\">4.3 - THE PREMIUM SERVICE - EXISTING LIVE TRADES:</span>\r\n\r\n<span style=\"text-decoration: underline;\">4.4 - THE PREMIUM SERVICE – EXISTING LIMIT ORDERS:</span>\r\n\r\n<span style=\"text-decoration: underline;\">4.5 - POTENTIAL TRADES - WHAT CHARTS AM I LOOKING AT?</span>\r\n\r\n<span style=\"text-decoration: underline;\">4.6 - MAJOR TRADING PAIRS WITH LONGER-TERM TRENDS MATCHING:</span>\r\n\r\n<span style=\"text-decoration: underline;\">4.7 - THE KEY SUPPORT &amp; RESISTANCE LEVELS WITH THE USD MAJORS</span><strong><span style=\"text-decoration: underline;\">:\r\n</span></strong>\r\n\r\n&nbsp;\r\n<ol start=\"5\">\r\n	<li><strong><span style=\"text-decoration: underline;\"> THE CONCLUSION - MY FINAL THOUGHTS:</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...one less thing to worry about!\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">5.2 –TRADING TIPS &amp; THOUGHTS FOR THE WEEK AHEAD:</span>\r\n\r\nWe have a lot of geopolitical news hanging around so we must trade with tighter stops.\r\n\r\nGREECE is of major concern and any trades placed with EUR or CHF pairs should be monitored very closely. I would suggest that smaller position sizes and wider stops are used.\r\n\r\nOil and the continuing middle-east issues will keep the USD in check, as well Oil related currencies such as CAD, NOK and MXN.\r\n\r\nWe also have China data this week so that alerts us with regards to the AUD and NZD pairs.\r\n\r\nThe UK election places you on GBP alert.\r\n\r\nNow, which pairs have I not mentioned!!!!\r\n\r\nAh ha…. the JPY - U.S. treasuries need to be watched so that brings in the USD/JPY.\r\n\r\nSo there you have it, all currency pairs have potential red lights - you can’t trade - take the week off!\r\n\r\nBasically, we will trade. But we need to be aware of the factors around us that can affect pricing in an instant. Trade smaller with wider stops to cope with the volatility.\r\n\r\nWe will have opportunities to make $$$, we just have to be alert and careful.\r\n\r\nAs always, there will be trades to trade and there will be some great opportunities, please trade in line with your RISK MANAGEMENT parameters from your TRADING PLAN. If you do not have a TRADE PLAN, in my opinion, you should, as this will help you with consistency.\r\n<p style=\"text-align: center;\"><strong>Consistency = longevity in trading and that is a critical goal.\r\nIT IS THE KEY MEASUREMENT</strong></p>\r\nBefore you enter a trade work out the risk, price it in $$$. 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\nSunday April 19th 2015\r\n\r\nEMAIL / FOLLOW ME AT:\r\nEmail: drivethru@weeklyfxdrivethru.com\r\nTwitter: @pipaccumulator\r\nGoogle+/scottpickering\r\nTumblr: thepipaccumulator\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<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 do.','GREECE – JUST WAITING FOR THE FAT LADY TO SING!','','inherit','open','closed','','5800-revision-v1','','','2015-04-19 06:25:53','2015-04-19 11:25:53','',5800,'https://weeklyfxdrivethru.com/5800-revision-v1/',0,'revision','',0),(5844,1,'2015-04-25 13:53:09','2015-04-25 18:53:09','','TRADING HABITS THAT WILL HELP YOU MANAGE YOUR OPEN POSITIONS','','inherit','open','closed','','trading-habits-that-will-help-you-manage-your-open-positions','','','2015-04-25 14:20:14','2015-04-25 19:20:14','',2538,'https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/TRADING-HABITS-THAT-WILL-HELP-YOU-MANAGE-YOUR-OPEN-POSITIONS.pdf',0,'attachment','application/pdf',0),(5842,1,'2015-04-25 13:59:44','2015-04-25 18:59:44','<p style=\"text-align: center;\"><strong>THE PREMIUM SERVICE\r\n</strong><strong>The Home of Single-Lot Trading\r\nwww.weeklyfxdrivethru.com</strong></p>\r\n<strong>DATE: 26.04.2015\r\nREFERENCE: #57\r\n</strong><strong>BLOG: THE PREMIUM SERVICE</strong><strong> </strong>\r\n\r\n<strong>\r\n</strong>\r\n<ol>\r\n	<li><strong> INTRODUCTION - MY OVERVIEW OF THE FOREX MARKET:</strong></li>\r\n</ol>\r\n<u>LOOKING BACKWARDS, FORWARDS &amp; SIDEWAYS (FOR GOOD MEASURE) AT THE FX MARKET:</u>\r\n\r\n<u>1.1 - LOOKING BACKWARDS:</u>\r\n\r\nThere wasn’t really much at all last week that kept me glued to my computer screens. The DXY touched trend lines, broke through (depending upon how you drew the lines) and bounced around. It was really just a range bound week that was very choppy, and at times both shorts and longs were wiped out as both range extremities were tested. There was one piece of data that hit the wires during the week that created some surprise movement, plus the continued GREECE news.\r\n\r\n<u>SNB NEGATIVE DEPOSIT – RATE AMENDMENT:</u>\r\n\r\nOn Wednesday last week, the SNB announced that they were changing the rules on negative deposit rates. Many people saw this as an easing move by the SNB and as a result the CHF was sold quite aggressively.\r\n\r\nThe USD/CHF came off its base at 0.9500 and rallied to 0.9720. The next day it gave basically all of it back. There were similar moves in the EUR/CHF and GBP/CHF, with huge chunks of the upside moves given back the following day.\r\n\r\nJust to reinforce the type of year I am having in 2015, I had what I call an “ARMEGEDDON” trade in place (one at the extremes) to go long the USD/CHF at 0.9500. It triggered and as I was adjusting my LIMIT I fat fingered it closed at 0.9521. I then set it up again back at 0.9500. 5 minutes later it was at 0.9570, it never pulled back as the market reacted to the SNB data. I took a long trade on a minute pullback, took about 30 pips and was really happy with myself as it pulled back to about 0.9640. I thought I had the top 30 pips or so of the move. Then it took off once again and finished at 0.9720.\r\n\r\nNaturally, the next day I tried to pick it up long as it pulled back and lost 50 pips in about 2 minutes. The drop was a fall like a hot knife through butter and basically the pullback move almost completely retraced the previous day’s move higher.\r\n\r\nThen on Friday, I decided to set two or three what I called “Armageddon” trades. LIMIT ORDERS at extremes. One was for the USD/CHF. Into the close this pair dropped back to 0.9500 on the nose. Not that far away from my “Armageddon” entry.\r\n\r\nThis pair rose 220 pips and gave it all back inside 72 hours that was a stunning move.\r\n\r\n&nbsp;\r\n\r\n<u>GEOPOLITICAL EVENTS:</u>\r\n<ol>\r\n	<li><u> GREECE:</u></li>\r\n</ol>\r\nIt’s still going….\r\n\r\nLast Friday we had a EUROGROUP set of meetings with EUROZONE Finance Ministers. When these guys get together it has to be the most boring collection of numpties in the world. Their advisors are pale-faced, ashen looking, never seen much sunlight and wear factor 5,000 sun creams to protect themselves. They optimize the phrase from Blackadder Goes Forth (A brilliant BBC comedy with Rowan Atkinson and Stephen Fry) – these people are “Pen Pushing, Desk Sucking, Jotter-Blotters”.\r\n\r\nJust imagine a room full of accountants educated at Cambridge or Oxford, who would consider those educated at the LSE (The London School of Economics) radical lefties, sitting in a room listening to Yanis aka no tie, Varoufakis (Greece Finance Minister) basically waffling about how Nazi Germany plundered Greek artifacts and owes the country monies back from World War II. This is content for a Ron Howard movie…priceless stuff.\r\n\r\nOn Friday, Bloomberg reported that he (Varoufakis) was considered by his peers to be “A time-waster, a gambler and an amateur”, high praise and very conducive to a GREECE settlement taking place. Varoufakis won’t have a huge Christmas card budget this year for his EUROGROUP buddies. If the boring accountants are this outspoken can you imagine what “The dogs of war” (Scheauble, Nowotny and Weidmann) would be like let 100% loose. I already think that Schaeuble must drink blood and not a burgundy at the Cheese and Wine functions.\r\n\r\nEUROGROUP leader Jeroen Dijsselbloem, tried his best to place a positive spin on events, but “yer man” Varoufakis, basically kicked him in the nuts by stating that they were poles apart from any agreement. I for one would just love to be a fly on the wall at one of these meetings.\r\n\r\nThe CONTAGION looms in my opinion and the stakes are high.\r\n\r\nThe cultural differences are immense in the EUROZONE. I have written about this fact many times over the past two years, just check out previous EUROZONE related blogs (there are plenty of them) on my home page.\r\n\r\nDebt forgiveness for GREECE and compensation for IRELAND, PORTUGAL etc. is the only way forward in my opinion. My views have not altered. This equivalent of a west-end farce played out in front of the world’s media does nothing to promote the effectiveness of the EUROZONE, nor does it show the strength in leadership ability in any area. It is in fact quite simply, a sales training video on “How not to ………….” I have seen tens of these in my earlier years on the planet.\r\n\r\nThis is going to eventually end in tears.\r\n\r\n&nbsp;\r\n<ol start=\"2\">\r\n	<li><u> OIL - YEMEN – IRAN:</u></li>\r\n</ol>\r\nWith the bombings in Yemen, allegedly being suspended, this means that the geographical location fear to OIL supplies being disrupted should be over.\r\n\r\nThe IRAN nuclear issue picks up again this week as the negotiations on TRUST recommence. This should be fascinating to observe because neither side trusts each other.\r\n\r\nFrom a trading perspective, OIL supplies are not threatened. OIL prices are rising because we have so much of it stored all over the world….go figure? I had an economics education, waste of bloody time that was… supply and demand my a**e.\r\n\r\n&nbsp;\r\n<ol start=\"3\">\r\n	<li><u> UK GENERAL ELECTION:</u></li>\r\n</ol>\r\nWe are getting closer to the polling date of May 7<sup>th</sup> 2015. As this date looms the pressure on the cable should grow as uncertainty about the result should intensify. Right now, the voter’s polls, and there are lots of them, have the Labour Party out in front, and if they are not leading it is almost a tie between the Conservatives and Labour parties.\r\n\r\nAt this point it looks like no one party will achieve an overall majority so a hung parliament with a coalition of some sorts looks to be the result.\r\n\r\nAs is with UK politics the party with the greatest number of seats in the House of Commons, has the first bite at trying to form a working coalition. It is very unclear that even if Cameron’s Conservatives won the greatest number of seats whether they would get a working majority.\r\n\r\nThe previous party of coalition, the Liberal–Democrats has performed very poorly and looks like they will not gain many seats that would help the Conservatives to achieve a working majority. Here lies the problem for the Tories, the right wing extremist party UKIP the third potential greatest seat winner wants out of the EUROPEAN UNION. Because of this, an alliance would from a Conservative position alienate huge Conservative support. Where does Cameron go to form a minority government that can hold a majority in parliament to govern?\r\n\r\nAfter the UKIP there is the SNP, however a Scottish vote supporting the Conservative party would be very unpopular in Scotland and would only be a “go-er” if huge concessions were given to Scotland re: power to manage on their own affairs. This then raises the question of Scottish MP’s voting on matters England and Wales, being part of a coalition.\r\n\r\nSo it’s not easy and this will create huge uncertainty as the polling date approaches.\r\n\r\n&nbsp;\r\n\r\n<u>1.2 - LOOKING FORWARDS:</u>\r\n\r\n<u>MAJOR FOREX NEWS THIS WEEK THAT INTERESTS ME:</u>\r\n\r\n<u>(There are many more news items related to the Forex Market than the ones listed below. These are the ones that interest me. You can go to </u><a href=\"http://www.forexfactory.com\">www.forexfactory.com</a><u> and </u><a href=\"http://www.tradingeconomics.com\">www.tradingeconomics.com</a><u> for more comprehensive lists of all news events that are Forex related).</u>\r\n\r\nSUNDAY: N/A.\r\n\r\nMONDAY: N/A.\r\n\r\nTUESDAY: USD – Consumer Confidence.\r\nTUESDAY: NZD – Trade Balance and ANZ Business Confidence.\r\n\r\nWEDNESDAY: USD – Advance GDP.\r\nWEDNESDAY: USD – FOMC Statement.\r\nWEDNESDAY: NZD – RBNZ Rate Statement &amp; Interest Rate.\r\n\r\nTHURSDAY: JPY – BOJ Press Conference &amp; Monetary Policy Statement.\r\nTHURSDAY: EUR – CPi.\r\nTHURSDAY: CAD – GDP.\r\nTHURSDAY: CNY – Manufacturing PMi.\r\nTHURSDAY: AUD – PPi.\r\n\r\nFRIDAY: GBP – Manufacturing PMi.\r\nFRIDAY: USD – ISM Manufacturing PMi.\r\n\r\n&nbsp;\r\n\r\n<u>1.3 - LOOKING SIDEWAYS (FOR GOOD MEASURE):\r\n</u>\r\n\r\n<u>FOREX MARKET CONDITIONS:</u>\r\n\r\nWe are in a range bound market. Painful as it is we have to live with it, that is of course, if unlike me, you consider yourself a range trader, in which case the champagne is on you.\r\n\r\nLast week I posted lots of charts to subscribers showing wedges, triangle patterns and lots of trend line support and resistance charts. I did not take or act upon many of the potential set-ups as they fell into place. All last week, there was a nagging feeling around the markets and nothing felt right for me<strong>. </strong>I am not sure if it was the choppiness in GOLD or the speculative moves in OIL? or perhaps it was the geopolitical news events from GREECE? I think when a major chart such as the DXY shows trend line targets in sight the market has jitters and becomes skittish, maybe that was the reason\r\n\r\nWithout doubt we need to break out of the trading ranges. From my perspective a good dose of USD strength to 102.50 should clear matters up once and for all and then we can move on.\r\n\r\nThe Central Banks around the world are also not making matters simple. We are in a currency war and it is a race to the bottom to weaken ones currency. I had thought that this would have dominated events but Central Bank importance comes and goes because we have irrational markets at times.\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n<ol start=\"2\">\r\n	<li><strong><u> WHAT’S ON MY MIND: -\r\nTHE FUNDAMENTAL TRADERS OVERVIEW:</u></strong></li>\r\n</ol>\r\n<strong> </strong>\r\n<p style=\"text-align: center;\"><strong>WHERE NEXT FOR THE CABLE?</strong></p>\r\nEarlier in the blog in section 1.3, I wrote about the geopolitical overhang surrounding the cable regarding the General Election.\r\n\r\nIn this section of the blog I am looking more at the cable short term and medium term through to the votes being counted on May 7<sup>th</sup> at the UK General Election.\r\n\r\nJust so you are all aware right now the PREMIUM SERVICE has a GBP/USD short trade #RT389 from 1.5175, the 161.8% Fibonacci level providing the entry point.\r\n\r\nShort-term I am caught, thinking that the 161.8% fib will hold and this will be a top in the GBP/USD. However, I am also conscious that algorithmic events may see at test of 1.5200 with stops being taken prior to a pullback.\r\n\r\nOverall, however I am for the reasons already written in section 1.3, bearish this pair.\r\n\r\nWe also should consider that many of the GBP cross rate pairs are also at breakout points or breakdown positions pushing resistance.\r\n\r\nI am bearish with my FUNDAMENTAL views, your views as a reader may be Bullish cable. The one thing that I can 100% guarantee you is that there will be break one way or the other and it will happen very, very soon. It will happen prior to the election, there is way too much uncertainty for it not to and this is why I am bearish. Uncertainty usually means bearish activity.\r\n\r\nHowever, I am also prepared for a break higher in the cable and the power of the commodity cross-rate pairs sucking traders into long trades only for a lot of disappointed traders to be left hanging when the bears take control as the election date looms closer.\r\n\r\nLet me make it clear after the election I expect a bounce back in cable. The one thing that I have learnt over the past 8 years of trading is that the markets are perfect as buying or selling the news and then going completely in the opposite direction as the news breaks. With this in mind I am expecting cable to dump and then do a Lazarus or a Carrie rising again. The big $64,000.00 question is when it bounces how strong will it be?\r\n<ol>\r\n	<li>Down then up.</li>\r\n	<li>Up then down then back up again</li>\r\n</ol>\r\nThose are my two thoughts on how cable is going to play out for the next two weeks. I wanted to put this on charts but found it quite difficult as the detail made the charts a little difficult to follow.\r\n\r\nI have a chart included, however, I am hoping that the following will be easy to follow.\r\n\r\nBasically, I expect a bounce after the cable fall and after the votes are counted but, the size and nature of the reverse move back higher will be defined by whether or not we have a majority or minority government. Plus in addition, we have to consider the majority party being one of Labour or Conservative as the market reactions would be different for both parties.\r\n\r\nUsing GBP/USD as a guide, I see it potentially topping at 1.5225-1.5265, but it may not even break 1.5200.\r\n\r\nAs the voting date comes closer and the banter associated with the election intensifies we could see a move lower towards 1.4750 (a move lower of about 450-500 pips). This is similar to the move that was witnessed with the Scottish Independence vote.\r\n\r\nA majority government would provide an explosive bounce through existing highs. I think that this is almost a guarantee. In my opinion, a Conservative majority government would take us back above today’s highs. With a Labour majority government, I would not expect as strong of a bounce back, as the markets will be uncertain of Labour’s delivery of policy and perhaps cable would not get back above 1.5000, but it’s all very unclear and uncertain.\r\n\r\nIf the results give a minority government, the bounce, and true market response, may be stunted the longer it takes to get a minority coalition government in place. There is therefore more potential for a further move lower towards 1.4500 or even lower, should there be a major time delay in forming a government with multiple parties. Any bounce back after a government is formed will be measured by whether it’s the Labour or Conservative party that holds the majority position within the minority government.\r\n\r\nHowever, just to further complicate matters, other events will be in play at the same time, namely GREECE and the FED possibly raising rates, and, maybe no matter what happens, with regards to the future UK government make-up the reversal move may only be a matter of 200 pips or so due to other geopolitical events and central bank activity.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/GBPUSD-SECT2-26042015.png\"><img class=\"aligncenter size-large wp-image-5841\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/GBPUSD-SECT2-26042015-1024x517.png\" alt=\"GBPUSD SECT2 26042015\" width=\"1024\" height=\"517\" /></a>\r\n\r\n&nbsp;\r\n\r\nLooking at the GBP cross rates.\r\n\r\nThe GBP/AUD for example, could have a significant move lower, we could end up sub 1.9000 around 1.8500-1.8750.\r\n\r\nWith a Labour minority government we could be as low as 1.8000. A Conservative government trying to negotiate a political partner to move forward could also see a move to 1.8000. The potential moves are rather difficult to fully take on board at the moment. But revisiting previous similar situations Forex moves will be swift and at times dramatic.\r\n\r\nThese moves will be even greater with cross rate pairs which are already traded on thinner volume; we really have to be very careful trading these pairs.\r\n\r\nThe ultimate reverse bounce back with GBP/AUD and for that matter with the GBP/CAD and GBP/NZD has the potential to be explosive as Central Bank easing from the RBA and the RBNZ in particular, will complement the reversal move higher. It would be like a double whammy effect, the potential to be very powerful. This week’s RBNZ meeting and statement will give us a better idea of where the RBNZ stand. If they are moving to a very DOVISH / ACCOMODATIVE stance this plays into a GBP/NZD long trade on the bounce.\r\n\r\nIt is a period of uncertainty with Cable and there are many possible outcomes. This makes it a dangerous pair to trade as we get closer to the election date.\r\n\r\nThe bottom line is I believe that there will be the potential for huge moves with all GBP related pairs and we should if previous similar election fallouts are repeated get two or three days of momentum and directional trading.\r\n\r\nIt should be a very interesting next couple of weeks or so.\r\n\r\n&nbsp;\r\n<ol start=\"3\">\r\n	<li><strong><u> THE PREMIUM SERVICE:</u></strong></li>\r\n</ol>\r\n<strong><u>SUMMARY OF PERFORMANCE:</u></strong>\r\n\r\n<u>3.1 – OVERVIEW and SUBSCRIPTION PRICING:</u>\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>\r\n\r\nAt the top of the page there are three drop down menus: -\r\n\r\nPREMIUM SERVICE PROMOTIONS (if available)\r\nSIGN-UP\r\nDISCLAIMER\r\n\r\nFurther details and how to join are all contained there. You will need at PayPal account to subscribe.\r\n\r\nPREMIUM SERVICE subscription prices are below.\r\n\r\n&nbsp;\r\n\r\n<u>COMING SOON - SILVER &amp; GOLD - PREMIUM SERVICE MEMBER STATUS:</u>\r\n\r\nRegular readers will be aware that during the past couple of months I have been upgrading speeds and revising content and deliverables within the PREMIUM SERVICE.\r\n\r\nAll of my subscribers were contacted for views about the potential changes and ideas moving forward. Many items have been addressed already, but, others require additional work “behind the scenes” to implement.\r\n\r\nOne of the suggestions was to create a two-tier approach to the subscription of the PREMIUM SERVICE.\r\n\r\nBasically this is what is proposed and on the table: -\r\n\r\n<u>GOLD MEMBER STATUS:</u>\r\n<ul>\r\n	<li>100% access to the PREMIUM SERVICE website.</li>\r\n	<li>A dedicated exclusive twitter feed for GOLD subscribers only @ThePremService.</li>\r\n	<li>All trade set-ups communicated via Twitter and RADAR and FUNDAMENTAL trades additionally via email when possible.</li>\r\n	<li>The WEEKLY FX DRIVE THRU (access to the full and complete version) delivered weekly via an emailed PDF, and, viewable on line inside the PREMIUM SERVICE secure section of <a href=\"http://www.weeklyfxdrivethru.com\">weeklyfxdrivethru.com</a></li>\r\n	<li>My thoughts and comments on market conditions via twitter.</li>\r\n</ul>\r\nSubscriptions costs remain as they are (see below).\r\n\r\n<u>SILVER MEMBER STATUS:</u>\r\n<ul>\r\n	<li>A new dedicated exclusive twitter feed for SILVER subscribers only @PremServSilver.</li>\r\n	<li>Limited access to the PREMIUM SERVICE website (trade information only).</li>\r\n	<li>The WEEKLY FX DRIVE THRU (the restricted version) delivered weekly via an emailed PDF and viewable online at <a href=\"http://www.weeklyfxdrivethru.com\">weeklyfxdrivethru.com</a></li>\r\n</ul>\r\nI am hoping to launch this within the next week or so, my proposed pricing covering both GOLD &amp; SILVER subscription options is on the chart below.\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/PS-SUBSCRIPTIONS-19042015.png\"><img class=\"aligncenter size-full wp-image-5825\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/PS-SUBSCRIPTIONS-19042015.png\" alt=\"PS SUBSCRIPTIONS 19042015\" width=\"745\" height=\"486\" /></a>\r\n\r\n&nbsp;\r\n\r\n<u>3.2 - SUMMARY OF PERFORMANCE:</u>\r\n\r\n(Only the excel spreadsheets will now be shown in this section. References to previous, present and future trades “LAST WEEK’s TRADING REVIEW” will now be provided solely for the benefit of PREMIUM SERVICE subscribers and has been moved into section 4).\r\n\r\n<u>3.2.1 – PREMIUM SERVICE – COST INCOME ANALYSIS:</u>\r\n\r\n&nbsp;\r\n<p style=\"text-align: center;\">EMANATING FROM TRADE SET-UPS - 2015 to date:</p>\r\n<p style=\"text-align: center;\"><u>MICRO LOT TRADER</u> - 283 trades cost to trade = $28.30\r\n<strong>PROFIT</strong> from 283 trades = <strong><u>$399.10</u></strong></p>\r\n<p style=\"text-align: center;\"><u>MINI LOT TRADER</u> - 283 trades cost to trade = $283.00\r\n<strong>PROFIT</strong> from 283 trades = <strong><u>$3,991.00</u></strong></p>\r\n<p style=\"text-align: center;\"><u>STANDARD LOT TRADER</u> - 283 trades cost to trade = $2,830.00\r\n<strong>PROFIT</strong> from 283 trades = <strong><u>$39,910.00</u></strong></p>\r\n<p style=\"text-align: center;\"><strong><u>\r\nPLEASE NOTE:</u></strong></p>\r\n<p style=\"text-align: center;\">If this sort of risk/reward income opportunity interests you:\r\nTo join the PREMIUM SERVICE at the introductory level subscribe to the initial\r\n4 week subscription and receive a 5<sup>th</sup> week FREE!!See the PROMOTIONS tab on my landing page at\r\n<a href=\"http://www.weeklyfxdrivrethru.com\">www.weeklyfxdrivrethru.com</a>\r\nthis offer ends as soon as the new SILVER subscription level is officially launched.</p>\r\n&nbsp;\r\n\r\n<u>3.2.2 - PREMIUM SERVICE - PROFIT/LOSS RATIOS:</u>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/PS-PROFIT-LOSS-19042015.png\"><img class=\"aligncenter size-full wp-image-5813\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/PS-PROFIT-LOSS-19042015.png\" alt=\"PS PROFIT-LOSS 19042015\" width=\"415\" height=\"585\" /></a>\r\n\r\n&nbsp;\r\n\r\n<u>3.2.3 - PREMIUM SERVICE - RISK/REWARD ANALYSIS:</u>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/PS-RISK-REWARD-19042015.png\"><img class=\"aligncenter size-full wp-image-5814\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/PS-RISK-REWARD-19042015.png\" alt=\"PS RISK-REWARD 19042015\" width=\"429\" height=\"540\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n<u>3.2.4 - PREMIUM SERVICE - OVERALL TRADE SUMMARY MONTH &amp; YTD:</u>\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/PREM-SERV-PROFITS1-19042015.png\"><img class=\"aligncenter size-full wp-image-5815\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/PREM-SERV-PROFITS1-19042015.png\" alt=\"PREM SERV PROFITS1 19042015\" width=\"462\" height=\"424\" /></a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/REM-SEWRV-PROFITS2-19042015.png\"><img class=\"aligncenter size-full wp-image-5816\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/REM-SEWRV-PROFITS2-19042015.png\" alt=\"REM SEWRV PROFITS2 19042015\" width=\"456\" height=\"442\" /></a>\r\n\r\n&nbsp;\r\n<ol start=\"4\">\r\n	<li><strong><u> PREMIUM SERVICE SUBSCRIBER EXCLUSIVE CONTENT:</u></strong></li>\r\n</ol>\r\n(Section 4 is exclusive PREMIUM SERVICE content only available to PREMIUM SERVICE subscribers)\r\n\r\n<u>4.1 - EDUCATION:\r\n</u>(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<strong> </strong>\r\n<p style=\"text-align: center;\"><strong>TRADING HABITS THAT WILL HELP YOU MANAGE YOUR OPEN POSITIONS</strong></p>\r\nWhen trading, actively managing open positions is just as important as coming up with your plan. Here are three tips to help you manage your active trades\r\n<ol>\r\n	<li><strong> KEEP IN TOUCH WITH THE MARKET.</strong></li>\r\n</ol>\r\nWhether you are a hardcore technical or fundamental trader, or maybe a little of both, you cannot deny that economic reports influence price action. This is why it pays to keep tabs on the events that pose risks to your trades.\r\n\r\nSome may say that the market’s reaction to the news is more important than the news itself, but how can you make the most out of a reaction if you have no idea about the news event?\r\n\r\nDon’t forget to always pay attention to potential game changers that might invalidate or at least divert from how you expect your trade to play out.<strong> </strong>\r\n<ol start=\"2\">\r\n	<li><strong> BE FLEXIBLE WITH YOUR TRADING PLAN.</strong></li>\r\n</ol>\r\nIt is very important to be flexible with your trading plan. Of course being “FLEXIBLE” doesn’t mean being totally spontaneous and not following your initial plan at all. It just means that you are making adjustments based on factors that have changed since you made your initial plan.\r\n\r\nBeing flexible requires you to constantly check the validity of your setups as time passes. Also, keep in mind that the longer you keep your trade open, the more you expose it to different event risks. How long did you initially plan to keep your trade open? Is your setup still valid after a few hours, days or even weeks?\r\n\r\nLet’s say you spotted a potential for a double top on the AUD/USD as an intraday trade. You shorted at the “top” and wait for the price action to go down, but after a few trading sessions you see that the pair is just ranging near your entry level. Is your “double top” still valid or should you take your profits early?\r\n<ol start=\"3\">\r\n	<li><strong> UPDATE YOUR ORDERS AND POSITION SIZES.</strong></li>\r\n</ol>\r\nJust because you have the ideal risk-reward ratio and the “fool-proof” trading plan doesn’t mean that you shouldn’t also tweak your order levels and position sizes. Remember you want to minimize your risk.\r\n\r\nIf one or two factors in your trading plan don’t go your way but you think your idea still has merit, you might want to cut back on your position sizes. On the other hand, if you find that the price action turned out to be better than what you expected, you could also consider adjusting your stop losses or taking partial profits. It would be a lot better if these adjustments were included in your initial trading plan in the first place, but better late than unprofitable, right?\r\n\r\nKeep these three simple tips in mind when you trade so you don’t end up wasting your well-thought out trading plans. Before you know it, these practices will have already turned into habits.\r\n\r\n&nbsp;\r\n\r\n<u>4.2 – THE PREMIUM SERVICE – TRADING REVIEW:</u>\r\n\r\nI have spoken at length with several subscribers last week about the current market conditions and I also had a webinar with my peer group of traders earlier this week.\r\n\r\nBasically, I can sum everything that was discussed as follows: -\r\n\r\n<em>“We are in a “DAY TRADING” environment with just very few exceptions. It is a take the money and run market”.</em>\r\n\r\nWithout doubt the profit per trade is different, compared with that of 2014. With regards to pips generated this year, the PREMIUM SERVICE is by some miracle, because, I am not enjoying trading this year as much as last year, ahead of those achieved in 2014.\r\n\r\nTrading is hard this year. As I have said, and no doubt you have read various articles from different sources also, the liquidity in the FX markets is now lower than before. This results in some rather strange moves that when added to the fact we are in a range trading environment with false breaks with lower and higher out of ranges being the norm. So is it any wonder traders are losing money and getting caught more often than not on the wrong side of trades? Hence, we have shorter time framed trades with less $$$ per trade being earned as a result.\r\n\r\nI want to mention RISK OFF.\r\n\r\nLast year, we had comments every trading day about the markets being RISK AVERSE or RISK ON and RISK OFF. This year because we have basically had a one sided market RISK OFF has hardly been mentioned.\r\n\r\nI believe that this will change very soon. Price action in the USD/JPY is weird and lacks correlation with equities more times than not.\r\n\r\nThe inter-market correlations are catching my eyes once again as markets are being stretched. At the extremes, this adds to market volatility and creates uncertainty. The one-sided market has to end soon and at the extremes would seem to be the levels that create hesitation and FEAR of buying at the highs. The GREED factor then enters to ensure that as much $$$$ are pocketed. Just some food for thought as we move forward. This will then bring RISK OFF back into play.\r\n\r\n&nbsp;\r\n\r\n<u>4.3 - THE PREMIUM SERVICE - EXISTING LIVE TRADES:</u>\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/PS-LIVE-TRADES-190420151.png\"><img class=\"aligncenter size-full wp-image-5823\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/PS-LIVE-TRADES-190420151.png\" alt=\"PS LIVE TRADES 19042015\" width=\"724\" height=\"506\" /></a>\r\n\r\n&nbsp;\r\n\r\n<u>4.4 - THE PREMIUM SERVICE – EXISTING LIMIT ORDERS:</u>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/PS-LIMIT-ORDERS-190420151.png\"><img class=\"aligncenter size-full wp-image-5822\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/PS-LIMIT-ORDERS-190420151.png\" alt=\"PS LIMIT ORDERS 19042015\" width=\"707\" height=\"407\" /></a>\r\n\r\n<u>PLEASE NOTE:</u>\r\n\r\nRemember position sizes for suggested FUNDAMENTAL TRADES should be much smaller than usual, maybe only 20%-25% 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. In addition, I have added some detail on my HEDGING approach as well to the second FUNDAMENTAL TRADE alert page. More detailed information on HEDGING can be found inside the PREMIUM SERVICE website under the EDUCATION tab – Trading Essentials.\r\n\r\nI view the commodity cross-rate pairs, which form the basis of my FUNDAMENTAL TRADE SET-UPS as bonus trades away from the USD majors and over the year they can be very profitable. This is why I have a separate broker account for commodity cross-RATE PAIR trades. It gives me an immediate measurement of performance without the need to extrapolate data.\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n<u>4.5 - POTENTIAL TRADES - WHAT CHARTS AM I LOOKING AT?</u>\r\n\r\n(This section usually contains charts mainly relating to non-USD majors, 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. If there are no comments beneath the charts, my comments / thoughts are written on them directly. I will tweet and email as soon as these possible trades become LIMIT ORDERS)\r\n\r\n<u>THIS WEEKS OVERVIEW:</u>\r\n\r\nThere are not as many charts this week. I am waiting on GREECE to be sorted out. The EUR crosses do not interest me for now and coming closer to voting in the UK, the GBP crosses are falling back in priority.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/USDJPY-60M-26042015.png\"><img class=\"aligncenter size-large wp-image-5840\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/USDJPY-60M-26042015-1024x517.png\" alt=\"USDJPY 60M 26042015\" width=\"1024\" height=\"517\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/AUDUSD-60M-26042015.png\"><img class=\"aligncenter size-large wp-image-5839\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/AUDUSD-60M-26042015-1024x517.png\" alt=\"AUDUSD 60M 26042015\" width=\"1024\" height=\"517\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/EURGBP-240M-26042015.png\"><img class=\"aligncenter size-large wp-image-5838\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/EURGBP-240M-26042015-1024x517.png\" alt=\"EURGBP 240M 26042015\" width=\"1024\" height=\"517\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/EURJPY-240M-26042015.png\"><img class=\"aligncenter size-large wp-image-5837\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/EURJPY-240M-26042015-1024x517.png\" alt=\"EURJPY 240M 26042015\" width=\"1024\" height=\"517\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/GBPAUD-W-26042015.png\"><img class=\"aligncenter size-large wp-image-5836\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/GBPAUD-W-26042015-1024x517.png\" alt=\"GBPAUD W 26042015\" width=\"1024\" height=\"517\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/GBPCHF-D-26042015.png\"><img class=\"aligncenter size-large wp-image-5835\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/GBPCHF-D-26042015-1024x517.png\" alt=\"GBPCHF D 26042015\" width=\"1024\" height=\"517\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/GBPNZD-W-26042015.png\"><img class=\"aligncenter size-large wp-image-5834\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/GBPNZD-W-26042015-1024x517.png\" alt=\"GBPNZD W 26042015\" width=\"1024\" height=\"517\" /></a>\r\n\r\n&nbsp;\r\n\r\n<u>4.6 - MAJOR TRADING PAIRS WITH LONGER-TERM TRENDS MATCHING:</u>\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/2015/04/TRENDING-PAIRS-19042015.png\"><img class=\"aligncenter size-full wp-image-5824\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/TRENDING-PAIRS-19042015.png\" alt=\"TRENDING PAIRS 19042015\" width=\"412\" height=\"536\" /></a>\r\n\r\n&nbsp;\r\n\r\n<u>4.7 - THE KEY SUPPORT &amp; RESISTANCE LEVELS WITH THE USD MAJORS</u><strong><u>:\r\n</u></strong>(The reviews in the section are accompanied with weekly charts of the USD majors)\r\n\r\n<strong>EUR/USD: Closing Price 1.0868.</strong>\r\n\r\nWe are still in a very wide trading range of 1.0470 to 1.1050. As the geopolitical news about GREECE continues to roll on in the media with what seems to be a plethora of alternative deadline dates being quoted as the “FINAL, FINAL ABSOLUTELY BLOODY FINAL DATE”, the pressure intensifies on a resolution being sought.\r\n\r\nFor now however, I am going to stay sidelined until a resolution is made public. Sometimes your best trades are the ones that you do NOT take.\r\n\r\nThe immediate support and resistance is probably 1.0790 to 1.0925.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/EURUSD-W-26042015.png\"><img class=\"aligncenter size-large wp-image-5831\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/EURUSD-W-26042015-1024x517.png\" alt=\"EURUSD W 26042015\" width=\"1024\" height=\"517\" /></a>\r\n\r\n<strong> </strong>\r\n\r\n<strong> </strong>\r\n\r\n<strong>GBP/USD: Closing Price 1.5186</strong>.\r\n\r\nI talked about the engulfing candle last week, and ignored it myself. This pair moved up about 200 pips in the past 7 days. That is 500 pips in the past 14 days…..hmmmn.\r\n\r\nFrom last week:-\r\n\r\n<em>“A weekly engulfing candle is huge for the “big hitters” like the FX banks and the large fund managers / institutional traders as they plan their trading week ahead. It is cable be careful. Nevertheless I am expecting a test of the 61.8% Fibonacci on the back of momentum trading alone and this is at 1.5180. This is assuming that we can break back above 1.5000”.</em>\r\n\r\nNot a bad prediction, where did we close the week 1.5186 versus 1.5180? These Fibonacci levels do work.\r\n\r\nThis week, I am expecting a pullback as we edge closer to the UK election. The trading range should be support around 1.5050 and resistance a little higher at 1.5260. What worries me though is a massive squeeze higher prior to the mother of all pullbacks during the week of May 7<sup>th</sup> (election week).\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/GBPUSD-W-26042015.png\"><img class=\"aligncenter size-large wp-image-5830\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/GBPUSD-W-26042015-1024x517.png\" alt=\"GBPUSD W 26042015\" width=\"1024\" height=\"517\" /></a>\r\n\r\n<strong> </strong>\r\n\r\n<strong>AUD/USD: Closing Price 0.7813</strong>.\r\n\r\nI am struggling with this pair at the moment.\r\n\r\nI see a top at 0.7840 and this held on Friday, whether it hold this week is debatable. However, at the back of my mind are weakening Iron Ore prices, commodity prices GOLD and COPPER under pressure, and, the RBA looking to cut rates. This pair should be closer to 0.7000 rather than 0.8000. So I am still bearish.\r\n\r\nWe are range bound for now, and what I wrote last week is still valid: –\r\n\r\n<em>“The weekly chart below looks bullish; however we are heading up to the first barrier of resistance at 0.7850. Support is back at 0.7740”.</em>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/AUDUSD-W-26042015.png\"><img class=\"aligncenter size-large wp-image-5832\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/AUDUSD-W-26042015-1024x517.png\" alt=\"AUDUSD W 26042015\" width=\"1024\" height=\"517\" /></a>\r\n\r\n&nbsp;\r\n\r\n<strong>NZD/USD: Closing Price 0.7583</strong>.\r\n\r\nDeputy RBNZ governor Mc Dermott was quoted last week basically stating that the RBNZ were cancelling proposed rate hikes and moving to a more accommodative position.\r\n\r\nNow… remember this guy works for Mr. Indecisive none other than Graeme Wheeler who has two hands that act independently of each other 100% of the time. How he puts on a shirt in the morning must be quite amusing. (Just saying!)\r\n\r\nWe have the RBNZ interest rate announcement and policy statement this coming Wednesday. I am really looking forward to this after the FOMC statement. We need to see some clarity from the RBNZ and not the “Greenspan” approach to communication. We may see a surprise rate cut on Wednesday, but I would not at this stage be mortgaging the house on this eventuality.\r\n\r\nThe range that I am working with is 0.7520 to 0.7640\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/NZDUSD-W-26042015.png\"><img class=\"aligncenter size-large wp-image-5829\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/NZDUSD-W-26042015-1024x517.png\" alt=\"NZDUSD W 26042015\" width=\"1024\" height=\"517\" /></a>\r\n\r\n<strong> </strong>\r\n\r\n<strong> </strong>\r\n\r\n<strong>USD/CAD: Closing Price 1.2153.</strong>\r\n\r\nI think that 1.2000 is sucking this pair lower. I have my Armageddon trade set up to go long at 1.1950. It looks a way off but do not be fooled, we had a wash out of longs at 1.2350. Now it looks like the market is determined to take out institutional traders that have stops lined up just below the psychological level of 1.2000. After the flush out, I hope that 1.1950 will hold to establish a long trade.\r\n\r\nFor the coming few days I see support at 1.2075 and resistance at 1.2350.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/USDCAD-W-24042015.png\"><img class=\"aligncenter size-large wp-image-5828\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/USDCAD-W-24042015-1024x517.png\" alt=\"USDCAD W 24042015\" width=\"1024\" height=\"517\" /></a>\r\n\r\n<strong> </strong>\r\n\r\n<strong>USD/CHF: Closing Price 0.9499</strong>.\r\n\r\nNo real change week on week with regards to the closing price. However, this does NOT tell the story of the ride off the lows at 0.9500 up to 0.9720 and then back again to where we started inside 72 hours.\r\n\r\nThere is a danger being long this pair as a GREECE solution is sought from capital flows but the -0.75% interest rate should stop a lot of that movement. But, where does the money go if not to the CHF?\r\n\r\nI have my Armageddon trade placed at 0.9450 to go long…..it may not be low enough!!\r\n\r\nThe SNB are looking to move the currency, they have all but said this recently. The EUR/CHF is closer to parity than 1.1000; the GBP/CHF is closer to 1.4000 than 1.7500.\r\n\r\nDo not rule out a Thomas Jordan (SNB Governor) return in the PEG II.\r\n\r\nI see support at 0.9490 then 0.9450 with resistance at 0.9650 then 0.9720.\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/USDCHF-W-26042015.png\"><img class=\"aligncenter size-large wp-image-5827\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/USDCHF-W-26042015-1024x517.png\" alt=\"USDCHF W 26042015\" width=\"1024\" height=\"517\" /></a>\r\n\r\n<strong> </strong>\r\n\r\n<strong>USD/JPY: Closing Price 118.95. </strong>\r\n\r\nNo change from last week, and the week before for that matter. For three weeks we have closed around this level only to bounce up in the early week trading.\r\n\r\nMy same comments as last week are still valid: -\r\n\r\n<em>“Support at 115.60 and resistance at 122.00, however, we are starting to make a move towards the lower end of the range. I do not want to have everyone getting over excited but my thoughts are that with bond yield moving the pressure on the USD/JPY is intensifying and a move lower is inevitable if the correlation with U.S. treasuries sticks”.</em>\r\n\r\nImmediate support is at 118.20 and resistance back at 119.50.\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/USDJPY-W-26042015.png\"><img class=\"aligncenter size-large wp-image-5833\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/USDJPY-W-26042015-1024x517.png\" alt=\"USDJPY W 26042015\" width=\"1024\" height=\"517\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n<ol start=\"5\">\r\n	<li><strong><u> THE CONCLUSION - MY FINAL THOUGHTS:</u></strong></li>\r\n</ol>\r\n<u>5.1 - SUBSCRIBING TO THE “FREE VERSION” OF THE WEEKLY FX DRIVE THRU:</u>\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<u>5.2 –TRADING TIPS &amp; THOUGHTS FOR THE WEEK AHEAD: </u>\r\n\r\nThe major news events this week are the FOMC statement, and the RBNZ statement. USD - GDP and Consumer Confidence also stand out, as well as CAD - GBP and AUD - PPi, plus other PMi data is also on the calendar.\r\n\r\nAdd to this the on-going GREECE situation and the UK election and we have quite a few subjects to keep us glued to our computer screens.\r\n\r\nWith GREECE seemingly on the cusp of something, not quite certain what, any open trades or fresh trades placed with EUR or CHF pairs should be monitored very closely. Frankly, it may just be better to leave the EUR and CHF well alone until the GREEK situation is concluded one way or another. This is easier said than done as the desire to trade inside volatility can be too much for many traders to resist.\r\n\r\nBasically, we will trade. But we need to be aware of the factors around us that can affect pricing in an instant. As expected, I suggest that you trade smaller position sizes with wider stops to cope with the volatility.\r\n\r\nWe will have opportunities to make $$$, we just have to be alert and careful.\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\nSunday April 26th 2015\r\n\r\nEMAIL / FOLLOW ME AT:\r\npremiumservice@weeklyfxdrivethru.com\r\nTwitter: @pipaccumulator\r\nTwitter: @ThePremService\r\nGoogle+/scottpickering\r\nTumblr: thepipaccumulator\r\n\r\n&nbsp;\r\n\r\n<u>VIEWS AND COMMENTS IN THIS BLOG:</u><u> </u>\r\n\r\nAll the comments and views expressed in my blog are my thoughts and ideas only. They are based on my FUNDAMENTAL views of the markets and my thoughts on the individuals concerned on how they manage positions in the public domain. In addition, I have my own thoughts and views about what I think goes on behind closed doors. You should NOT base any trade ideas on my thoughts and views alone. As I have said on many occasions in my blog, I am a FUNDAMENTAL trader first, then a TECHNICAL trader second using chart analysis to establish what I believe to be excellent trade entry positions. However, you must make up your own mind and trade at your own risk deciding if the entry levels I refer to actually meet with your views and thoughts. This makes complete sense as the risk in trading your account is 100% owned by you.\r\n\r\n<u>THIRD PARTY COMPANIES WITH BANNERS ON MY WEBSITE:</u>\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\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. By virtue of the fact, I work with these companies almost daily. I am more than confident to have them advertise on my website. Any reader who buys products or services from any advertiser via a banner on my website, <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a> will automatically have my help and assistance with any issues that they may have with my partnered advertisers.\r\n\r\n<u>TRADING &amp; PERFORMANCES DISCLAIMER:</u>\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.','WHERE NEXT FOR THE CABLE?','','publish','open','closed','','where-next-for-the-cable','','','2015-04-28 10:50:31','2015-04-28 15:50:31','',0,'https://weeklyfxdrivethru.com/?post_type=member_posts&#038;p=5842',0,'member_posts','',0),(5843,1,'2015-04-25 13:51:01','2015-04-25 18:51:01','<p style=\"text-align: center;\"><strong>THE PREMIUM SERVICE\r\n</strong><strong>The Home of Single-Lot Trading\r\nwww.weeklyfxdrivethru.com</strong></p>\r\n<strong>DATE: 26.04.2015\r\nREFERENCE: #57\r\n</strong><strong>BLOG: THE PREMIUM SERVICE</strong><strong> </strong>\r\n\r\n<strong>\r\n</strong>\r\n<ol>\r\n	<li><strong> INTRODUCTION - MY OVERVIEW OF THE FOREX MARKET:</strong></li>\r\n</ol>\r\n<u>LOOKING BACKWARDS, FORWARDS &amp; SIDEWAYS (FOR GOOD MEASURE) AT THE FX MARKET:</u>\r\n\r\n<u>1.1 - LOOKING BACKWARDS:</u>\r\n\r\nThere wasn’t really much at all last week that kept me glued to my computer screens. The DXY touched trend lines, broke through (depending upon how you drew the lines) and bounced around. It was really just a range bound week that was very choppy, and at times both shorts and longs were wiped out as both range extremities were tested. There was one piece of data that hit the wires during the week that created some surprise movement, plus the continued GREECE news.\r\n\r\n<u>SNB NEGATIVE DEPOSIT – RATE AMENDMENT:</u>\r\n\r\nOn Wednesday last week, the SNB announced that they were changing the rules on negative deposit rates. Many people saw this as an easing move by the SNB and as a result the CHF was sold quite aggressively.\r\n\r\nThe USD/CHF came off its base at 0.9500 and rallied to 0.9720. The next day it gave basically all of it back. There were similar moves in the EUR/CHF and GBP/CHF, with huge chunks of the upside moves given back the following day.\r\n\r\nJust to reinforce the type of year I am having in 2015, I had what I call an “ARMEGEDDON” trade in place (one at the extremes) to go long the USD/CHF at 0.9500. It triggered and as I was adjusting my LIMIT I fat fingered it closed at 0.9521. I then set it up again back at 0.9500. 5 minutes later it was at 0.9570, it never pulled back as the market reacted to the SNB data. I took a long trade on a minute pullback, took about 30 pips and was really happy with myself as it pulled back to about 0.9640. I thought I had the top 30 pips or so of the move. Then it took off once again and finished at 0.9720.\r\n\r\nNaturally, the next day I tried to pick it up long as it pulled back and lost 50 pips in about 2 minutes. The drop was a fall like a hot knife through butter and basically the pullback move almost completely retraced the previous day’s move higher.\r\n\r\nThen on Friday, I decided to set two or three what I called “Armageddon” trades. LIMIT ORDERS at extremes. One was for the USD/CHF. Into the close this pair dropped back to 0.9500 on the nose. Not that far away from my “Armageddon” entry.\r\n\r\nThis pair rose 220 pips and gave it all back inside 72 hours that was a stunning move.\r\n\r\n&nbsp;\r\n\r\n<u>GEOPOLITICAL EVENTS:</u>\r\n<ol>\r\n	<li><u> GREECE:</u></li>\r\n</ol>\r\nIt’s still going….\r\n\r\nLast Friday we had a EUROGROUP set of meetings with EUROZONE Finance Ministers. When these guys get together it has to be the most boring collection of numpties in the world. Their advisors are pale-faced, ashen looking, never seen much sunlight and wear factor 5,000 sun creams to protect themselves. They optimize the phrase from Blackadder Goes Forth (A brilliant BBC comedy with Rowan Atkinson and Stephen Fry) – these people are “Pen Pushing, Desk Sucking, Jotter-Blotters”.\r\n\r\nJust imagine a room full of accountants educated at Cambridge or Oxford, who would consider those educated at the LSE (The London School of Economics) radical lefties, sitting in a room listening to Yanis aka no tie, Varoufakis (Greece Finance Minister) basically waffling about how Nazi Germany plundered Greek artifacts and owes the country monies back from World War II. This is content for a Ron Howard movie…priceless stuff.\r\n\r\nOn Friday, Bloomberg reported that he (Varoufakis) was considered by his peers to be “A time-waster, a gambler and an amateur”, high praise and very conducive to a GREECE settlement taking place. Varoufakis won’t have a huge Christmas card budget this year for his EUROGROUP buddies. If the boring accountants are this outspoken can you imagine what “The dogs of war” (Scheauble, Nowotny and Weidmann) would be like let 100% loose. I already think that Schaeuble must drink blood and not a burgundy at the Cheese and Wine functions.\r\n\r\nEUROGROUP leader Jeroen Dijsselbloem, tried his best to place a positive spin on events, but “yer man” Varoufakis, basically kicked him in the nuts by stating that they were poles apart from any agreement. I for one would just love to be a fly on the wall at one of these meetings.\r\n\r\nThe CONTAGION looms in my opinion and the stakes are high.\r\n\r\nThe cultural differences are immense in the EUROZONE. I have written about this fact many times over the past two years, just check out previous EUROZONE related blogs (there are plenty of them) on my home page.\r\n\r\nDebt forgiveness for GREECE and compensation for IRELAND, PORTUGAL etc. is the only way forward in my opinion. My views have not altered. This equivalent of a west-end farce played out in front of the world’s media does nothing to promote the effectiveness of the EUROZONE, nor does it show the strength in leadership ability in any area. It is in fact quite simply, a sales training video on “How not to ………….” I have seen tens of these in my earlier years on the planet.\r\n\r\nThis is going to eventually end in tears.\r\n\r\n&nbsp;\r\n<ol start=\"2\">\r\n	<li><u> OIL - YEMEN – IRAN:</u></li>\r\n</ol>\r\nWith the bombings in Yemen, allegedly being suspended, this means that the geographical location fear to OIL supplies being disrupted should be over.\r\n\r\nThe IRAN nuclear issue picks up again this week as the negotiations on TRUST recommence. This should be fascinating to observe because neither side trusts each other.\r\n\r\nFrom a trading perspective, OIL supplies are not threatened. OIL prices are rising because we have so much of it stored all over the world….go figure? I had an economics education, waste of bloody time that was… supply and demand my a**e.\r\n\r\n&nbsp;\r\n<ol start=\"3\">\r\n	<li><u> UK GENERAL ELECTION:</u></li>\r\n</ol>\r\nWe are getting closer to the polling date of May 7<sup>th</sup> 2015. As this date looms the pressure on the cable should grow as uncertainty about the result should intensify. Right now, the voter’s polls, and there are lots of them, have the Labour Party out in front, and if they are not leading it is almost a tie between the Conservatives and Labour parties.\r\n\r\nAt this point it looks like no one party will achieve an overall majority so a hung parliament with a coalition of some sorts looks to be the result.\r\n\r\nAs is with UK politics the party with the greatest number of seats in the House of Commons, has the first bite at trying to form a working coalition. It is very unclear that even if Cameron’s Conservatives won the greatest number of seats whether they would get a working majority.\r\n\r\nThe previous party of coalition, the Liberal–Democrats has performed very poorly and looks like they will not gain many seats that would help the Conservatives to achieve a working majority. Here lies the problem for the Tories, the right wing extremist party UKIP the third potential greatest seat winner wants out of the EUROPEAN UNION. Because of this, an alliance would from a Conservative position alienate huge Conservative support. Where does Cameron go to form a minority government that can hold a majority in parliament to govern?\r\n\r\nAfter the UKIP there is the SNP, however a Scottish vote supporting the Conservative party would be very unpopular in Scotland and would only be a “go-er” if huge concessions were given to Scotland re: power to manage on their own affairs. This then raises the question of Scottish MP’s voting on matters England and Wales, being part of a coalition.\r\n\r\nSo it’s not easy and this will create huge uncertainty as the polling date approaches.\r\n\r\n&nbsp;\r\n\r\n<u>1.2 - LOOKING FORWARDS:</u>\r\n\r\n<u>MAJOR FOREX NEWS THIS WEEK THAT INTERESTS ME:</u>\r\n\r\n<u>(There are many more news items related to the Forex Market than the ones listed below. These are the ones that interest me. You can go to </u><a href=\"http://www.forexfactory.com\">www.forexfactory.com</a><u> and </u><a href=\"http://www.tradingeconomics.com\">www.tradingeconomics.com</a><u> for more comprehensive lists of all news events that are Forex related).</u>\r\n\r\nSUNDAY: N/A.\r\n\r\nMONDAY: N/A.\r\n\r\nTUESDAY: USD – Consumer Confidence.\r\nTUESDAY: NZD – Trade Balance and ANZ Business Confidence.\r\n\r\nWEDNESDAY: USD – Advance GDP.\r\nWEDNESDAY: USD – FOMC Statement.\r\nWEDNESDAY: NZD – RBNZ Rate Statement &amp; Interest Rate.\r\n\r\nTHURSDAY: JPY – BOJ Press Conference &amp; Monetary Policy Statement.\r\nTHURSDAY: EUR – CPi.\r\nTHURSDAY: CAD – GDP.\r\nTHURSDAY: CNY – Manufacturing PMi.\r\nTHURSDAY: AUD – PPi.\r\n\r\nFRIDAY: GBP – Manufacturing PMi.\r\nFRIDAY: USD – ISM Manufacturing PMi.\r\n\r\n&nbsp;\r\n\r\n<u>1.3 - LOOKING SIDEWAYS (FOR GOOD MEASURE):\r\n</u>\r\n\r\n<u>FOREX MARKET CONDITIONS:</u>\r\n\r\nWe are in a range bound market. Painful as it is we have to live with it, that is of course, if unlike me, you consider yourself a range trader, in which case the champagne is on you.\r\n\r\nLast week I posted lots of charts to subscribers showing wedges, triangle patterns and lots of trend line support and resistance charts. I did not take or act upon many of the potential set-ups as they fell into place. All last week, there was a nagging feeling around the markets and nothing felt right for me<strong>. </strong>I am not sure if it was the choppiness in GOLD or the speculative moves in OIL? or perhaps it was the geopolitical news events from GREECE? I think when a major chart such as the DXY shows trend line targets in sight the market has jitters and becomes skittish, maybe that was the reason\r\n\r\nWithout doubt we need to break out of the trading ranges. From my perspective a good dose of USD strength to 102.50 should clear matters up once and for all and then we can move on.\r\n\r\nThe Central Banks around the world are also not making matters simple. We are in a currency war and it is a race to the bottom to weaken ones currency. I had thought that this would have dominated events but Central Bank importance comes and goes because we have irrational markets at times.\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n<ol start=\"2\">\r\n	<li><strong><u> WHAT’S ON MY MIND: -\r\nTHE FUNDAMENTAL TRADERS OVERVIEW:</u></strong></li>\r\n</ol>\r\n<strong> </strong>\r\n<p style=\"text-align: center;\"><strong>WHERE NEXT FOR THE CABLE?</strong></p>\r\nEarlier in the blog in section 1.3, I wrote about the geopolitical overhang surrounding the cable regarding the General Election.\r\n\r\nIn this section of the blog I am looking more at the cable short term and medium term through to the votes being counted on May 7<sup>th</sup> at the UK General Election.\r\n\r\nJust so you are all aware right now the PREMIUM SERVICE has a GBP/USD short trade #RT389 from 1.5175, the 161.8% Fibonacci level providing the entry point.\r\n\r\nShort-term I am caught, thinking that the 161.8% fib will hold and this will be a top in the GBP/USD. However, I am also conscious that algorithmic events may see at test of 1.5200 with stops being taken prior to a pullback.\r\n\r\nOverall, however I am for the reasons already written in section 1.3, bearish this pair.\r\n\r\nWe also should consider that many of the GBP cross rate pairs are also at breakout points or breakdown positions pushing resistance.\r\n\r\nI am bearish with my FUNDAMENTAL views, your views as a reader may be Bullish cable. The one thing that I can 100% guarantee you is that there will be break one way or the other and it will happen very, very soon. It will happen prior to the election, there is way too much uncertainty for it not to and this is why I am bearish. Uncertainty usually means bearish activity.\r\n\r\nHowever, I am also prepared for a break higher in the cable and the power of the commodity cross-rate pairs sucking traders into long trades only for a lot of disappointed traders to be left hanging when the bears take control as the election date looms closer.\r\n\r\nLet me make it clear after the election I expect a bounce back in cable. The one thing that I have learnt over the past 8 years of trading is that the markets are perfect as buying or selling the news and then going completely in the opposite direction as the news breaks. With this in mind I am expecting cable to dump and then do a Lazarus or a Carrie rising again. The big $64,000.00 question is when it bounces how strong will it be?\r\n<ol>\r\n	<li>Down then up.</li>\r\n	<li>Up then down then back up again</li>\r\n</ol>\r\nThose are my two thoughts on how cable is going to play out for the next two weeks. I wanted to put this on charts but found it quite difficult as the detail made the charts a little difficult to follow.\r\n\r\nI have a chart included, however, I am hoping that the following will be easy to follow.\r\n\r\nBasically, I expect a bounce after the cable fall and after the votes are counted but, the size and nature of the reverse move back higher will be defined by whether or not we have a majority or minority government. Plus in addition, we have to consider the majority party being one of Labour or Conservative as the market reactions would be different for both parties.\r\n\r\nUsing GBP/USD as a guide, I see it potentially topping at 1.5225-1.5265, but it may not even break 1.5200.\r\n\r\nAs the voting date comes closer and the banter associated with the election intensifies we could see a move lower towards 1.4750 (a move lower of about 450-500 pips). This is similar to the move that was witnessed with the Scottish Independence vote.\r\n\r\nA majority government would provide an explosive bounce through existing highs. I think that this is almost a guarantee. In my opinion, a Conservative majority government would take us back above today’s highs. With a Labour majority government, I would not expect as strong of a bounce back, as the markets will be uncertain of Labour’s delivery of policy and perhaps cable would not get back above 1.5000, but it’s all very unclear and uncertain.\r\n\r\nIf the results give a minority government, the bounce, and true market response, may be stunted the longer it takes to get a minority coalition government in place. There is therefore more potential for a further move lower towards 1.4500 or even lower, should there be a major time delay in forming a government with multiple parties. Any bounce back after a government is formed will be measured by whether it’s the Labour or Conservative party that holds the majority position within the minority government.\r\n\r\nHowever, just to further complicate matters, other events will be in play at the same time, namely GREECE and the FED possibly raising rates, and, maybe no matter what happens, with regards to the future UK government make-up the reversal move may only be a matter of 200 pips or so due to other geopolitical events and central bank activity.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/GBPUSD-SECT2-26042015.png\"><img class=\"aligncenter size-large wp-image-5841\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/GBPUSD-SECT2-26042015-1024x517.png\" alt=\"GBPUSD SECT2 26042015\" width=\"1024\" height=\"517\" /></a>\r\n\r\n&nbsp;\r\n\r\nLooking at the GBP cross rates.\r\n\r\nThe GBP/AUD for example, could have a significant move lower, we could end up sub 1.9000 around 1.8500-1.8750.\r\n\r\nWith a Labour minority government we could be as low as 1.8000. A Conservative government trying to negotiate a political partner to move forward could also see a move to 1.8000. The potential moves are rather difficult to fully take on board at the moment. But revisiting previous similar situations Forex moves will be swift and at times dramatic.\r\n\r\nThese moves will be even greater with cross rate pairs which are already traded on thinner volume; we really have to be very careful trading these pairs.\r\n\r\nThe ultimate reverse bounce back with GBP/AUD and for that matter with the GBP/CAD and GBP/NZD has the potential to be explosive as Central Bank easing from the RBA and the RBNZ in particular, will complement the reversal move higher. It would be like a double whammy effect, the potential to be very powerful. This week’s RBNZ meeting and statement will give us a better idea of where the RBNZ stand. If they are moving to a very DOVISH / ACCOMODATIVE stance this plays into a GBP/NZD long trade on the bounce.\r\n\r\nIt is a period of uncertainty with Cable and there are many possible outcomes. This makes it a dangerous pair to trade as we get closer to the election date.\r\n\r\nThe bottom line is I believe that there will be the potential for huge moves with all GBP related pairs and we should if previous similar election fallouts are repeated get two or three days of momentum and directional trading.\r\n\r\nIt should be a very interesting next couple of weeks or so.\r\n\r\n&nbsp;\r\n<ol start=\"3\">\r\n	<li><strong><u> THE PREMIUM SERVICE:\r\n\r\n</u></strong></li>\r\n</ol>\r\n<strong><u>SUMMARY OF PERFORMANCE:</u></strong>\r\n\r\n<u>3.1 – OVERVIEW and SUBSCRIPTION PRICING:</u>\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>\r\n\r\nAt the top of the page there are three drop down menus: -\r\n\r\nPREMIUM SERVICE PROMOTIONS (if available)\r\nSIGN-UP\r\nDISCLAIMER\r\n\r\nFurther details and how to join are all contained there. You will need at PayPal account to subscribe.\r\n\r\nPREMIUM SERVICE subscription prices are below.\r\n\r\n&nbsp;\r\n\r\n<u>COMING SOON - SILVER &amp; GOLD - PREMIUM SERVICE MEMBER STATUS:</u>\r\n\r\nRegular readers will be aware that during the past couple of months I have been upgrading speeds and revising content and deliverables within the PREMIUM SERVICE.\r\n\r\nAll of my subscribers were contacted for views about the potential changes and ideas moving forward. Many items have been addressed already, but, others require additional work “behind the scenes” to implement.\r\n\r\nOne of the suggestions was to create a two-tier approach to the subscription of the PREMIUM SERVICE.\r\n\r\nBasically this is what is proposed and on the table: -\r\n\r\n<u>GOLD MEMBER STATUS:</u>\r\n<ul>\r\n	<li>100% access to the PREMIUM SERVICE website.</li>\r\n	<li>A dedicated exclusive twitter feed for GOLD subscribers only @ThePremService.</li>\r\n	<li>All trade set-ups communicated via Twitter and RADAR and FUNDAMENTAL trades additionally via email when possible.</li>\r\n	<li>The WEEKLY FX DRIVE THRU (access to the full and complete version) delivered weekly via an emailed PDF, and, viewable on line inside the PREMIUM SERVICE secure section of <a href=\"http://www.weeklyfxdrivethru.com\">weeklyfxdrivethru.com</a></li>\r\n	<li>My thoughts and comments on market conditions via twitter.</li>\r\n</ul>\r\nSubscriptions costs remain as they are (see below).\r\n\r\n<u>SILVER MEMBER STATUS:</u>\r\n<ul>\r\n	<li>A new dedicated exclusive twitter feed for SILVER subscribers only @PremServSilver.</li>\r\n	<li>Limited access to the PREMIUM SERVICE website (trade information only).</li>\r\n	<li>The WEEKLY FX DRIVE THRU (the restricted version) delivered weekly via an emailed PDF and viewable online at <a href=\"http://www.weeklyfxdrivethru.com\">weeklyfxdrivethru.com</a></li>\r\n</ul>\r\nI am hoping to launch this within the next week or so, my proposed pricing covering both GOLD &amp; SILVER subscription options is on the chart below.\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/PS-SUBSCRIPTIONS-19042015.png\"><img class=\"aligncenter size-full wp-image-5825\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/PS-SUBSCRIPTIONS-19042015.png\" alt=\"PS SUBSCRIPTIONS 19042015\" width=\"745\" height=\"486\" /></a>\r\n\r\n&nbsp;\r\n\r\n<u>3.2 - SUMMARY OF PERFORMANCE:</u>\r\n\r\n(Only the excel spreadsheets will now be shown in this section. References to previous, present and future trades “LAST WEEK’s TRADING REVIEW” will now be provided solely for the benefit of PREMIUM SERVICE subscribers and has been moved into section 4).\r\n\r\n<u>3.2.1 – PREMIUM SERVICE – COST INCOME ANALYSIS:\r\n\r\n</u>\r\n<p style=\"text-align: center;\">EMANATING FROM TRADE SET-UPS - 2015 to date:</p>\r\n<p style=\"text-align: center;\"><u>MICRO LOT TRADER</u> - 283 trades cost to trade = $28.30\r\n<strong>PROFIT</strong> from 283 trades = <strong><u>$399.10</u></strong></p>\r\n<p style=\"text-align: center;\"><u>MINI LOT TRADER</u> - 283 trades cost to trade = $283.00\r\n<strong>PROFIT</strong> from 283 trades = <strong><u>$3,991.00</u></strong></p>\r\n<p style=\"text-align: center;\"><u>STANDARD LOT TRADER</u> - 283 trades cost to trade = $2,830.00\r\n<strong>PROFIT</strong> from 283 trades = <strong><u>$39,910.00</u></strong></p>\r\n<p style=\"text-align: center;\"><strong><u>\r\nPLEASE NOTE:</u></strong></p>\r\n<p style=\"text-align: center;\">If this sort of risk/reward income opportunity interests you:\r\nTo join the PREMIUM SERVICE at the introductory level subscribe to the initial\r\n4 week subscription and receive a 5<sup>th</sup> week FREE!!See the PROMOTIONS tab on my landing page at\r\n<a href=\"http://www.weeklyfxdrivrethru.com\">www.weeklyfxdrivrethru.com</a>\r\nthis offer ends as soon as the new SILVER subscription level is officially launched.</p>\r\n&nbsp;\r\n\r\n<u>3.2.2 - PREMIUM SERVICE - PROFIT/LOSS RATIOS:</u>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/PS-PROFIT-LOSS-19042015.png\"><img class=\"aligncenter size-full wp-image-5813\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/PS-PROFIT-LOSS-19042015.png\" alt=\"PS PROFIT-LOSS 19042015\" width=\"415\" height=\"585\" /></a>\r\n\r\n&nbsp;\r\n\r\n<u>3.2.3 - PREMIUM SERVICE - RISK/REWARD ANALYSIS:</u>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/PS-RISK-REWARD-19042015.png\"><img class=\"aligncenter size-full wp-image-5814\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/PS-RISK-REWARD-19042015.png\" alt=\"PS RISK-REWARD 19042015\" width=\"429\" height=\"540\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n<u>3.2.4 - PREMIUM SERVICE - OVERALL TRADE SUMMARY MONTH &amp; YTD:</u>\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/PREM-SERV-PROFITS1-19042015.png\"><img class=\"aligncenter size-full wp-image-5815\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/PREM-SERV-PROFITS1-19042015.png\" alt=\"PREM SERV PROFITS1 19042015\" width=\"462\" height=\"424\" /></a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/REM-SEWRV-PROFITS2-19042015.png\"><img class=\"aligncenter size-full wp-image-5816\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/REM-SEWRV-PROFITS2-19042015.png\" alt=\"REM SEWRV PROFITS2 19042015\" width=\"456\" height=\"442\" /></a>\r\n\r\n&nbsp;\r\n<ol start=\"4\">\r\n	<li><strong><u> PREMIUM SERVICE SUBSCRIBER EXCLUSIVE CONTENT:</u></strong></li>\r\n</ol>\r\n(Section 4 is exclusive PREMIUM SERVICE content only available to PREMIUM SERVICE subscribers)\r\n\r\n<u>4.1 - EDUCATION:\r\n</u>(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<strong> </strong>\r\n<p style=\"text-align: center;\"><strong>TRADING HABITS THAT WILL HELP YOU MANAGE YOUR OPEN POSITIONS</strong></p>\r\nWhen trading, actively managing open positions is just as important as coming up with your plan. Here are three tips to help you manage your active trades\r\n<ol>\r\n	<li><strong> KEEP IN TOUCH WITH THE MARKET.</strong></li>\r\n</ol>\r\nWhether you are a hardcore technical or fundamental trader, or maybe a little of both, you cannot deny that economic reports influence price action. This is why it pays to keep tabs on the events that pose risks to your trades.\r\n\r\nSome may say that the market’s reaction to the news is more important than the news itself, but how can you make the most out of a reaction if you have no idea about the news event?\r\n\r\nDon’t forget to always pay attention to potential game changers that might invalidate or at least divert from how you expect your trade to play out.<strong> </strong>\r\n<ol start=\"2\">\r\n	<li><strong> BE FLEXIBLE WITH YOUR TRADING PLAN.</strong></li>\r\n</ol>\r\nIt is very important to be flexible with your trading plan. Of course being “FLEXIBLE” doesn’t mean being totally spontaneous and not following your initial plan at all. It just means that you are making adjustments based on factors that have changed since you made your initial plan.\r\n\r\nBeing flexible requires you to constantly check the validity of your setups as time passes. Also, keep in mind that the longer you keep your trade open, the more you expose it to different event risks. How long did you initially plan to keep your trade open? Is your setup still valid after a few hours, days or even weeks?\r\n\r\nLet’s say you spotted a potential for a double top on the AUD/USD as an intraday trade. You shorted at the “top” and wait for the price action to go down, but after a few trading sessions you see that the pair is just ranging near your entry level. Is your “double top” still valid or should you take your profits early?\r\n<ol start=\"3\">\r\n	<li><strong> UPDATE YOUR ORDERS AND POSITION SIZES.</strong></li>\r\n</ol>\r\nJust because you have the ideal risk-reward ratio and the “fool-proof” trading plan doesn’t mean that you shouldn’t also tweak your order levels and position sizes. Remember you want to minimize your risk.\r\n\r\nIf one or two factors in your trading plan don’t go your way but you think your idea still has merit, you might want to cut back on your position sizes. On the other hand, if you find that the price action turned out to be better than what you expected, you could also consider adjusting your stop losses or taking partial profits. It would be a lot better if these adjustments were included in your initial trading plan in the first place, but better late than unprofitable, right?\r\n\r\nKeep these three simple tips in mind when you trade so you don’t end up wasting your well-thought out trading plans. Before you know it, these practices will have already turned into habits.\r\n\r\n&nbsp;\r\n\r\n<u>4.2 – THE PREMIUM SERVICE – TRADING REVIEW:</u>\r\n\r\nI have spoken at length with several subscribers last week about the current market conditions and I also had a webinar with my peer group of traders earlier this week.\r\n\r\nBasically, I can sum everything that was discussed as follows: -\r\n\r\n<em>“We are in a “DAY TRADING” environment with just very few exceptions. It is a take the money and run market”.</em>\r\n\r\nWithout doubt the profit per trade is different, compared with that of 2014. With regards to pips generated this year, the PREMIUM SERVICE is by some miracle, because, I am not enjoying trading this year as much as last year, ahead of those achieved in 2014.\r\n\r\nTrading is hard this year. As I have said, and no doubt you have read various articles from different sources also, the liquidity in the FX markets is now lower than before. This results in some rather strange moves that when added to the fact we are in a range trading environment with false breaks with lower and higher out of ranges being the norm. So is it any wonder traders are losing money and getting caught more often than not on the wrong side of trades? Hence, we have shorter time framed trades with less $$$ per trade being earned as a result.\r\n\r\nI want to mention RISK OFF.\r\n\r\nLast year, we had comments every trading day about the markets being RISK AVERSE or RISK ON and RISK OFF. This year because we have basically had a one sided market RISK OFF has hardly been mentioned.\r\n\r\nI believe that this will change very soon. Price action in the USD/JPY is weird and lacks correlation with equities more times than not.\r\n\r\nThe inter-market correlations are catching my eyes once again as markets are being stretched. At the extremes, this adds to market volatility and creates uncertainty. The one-sided market has to end soon and at the extremes would seem to be the levels that create hesitation and FEAR of buying at the highs. The GREED factor then enters to ensure that as much $$$$ are pocketed. Just some food for thought as we move forward. This will then bring RISK OFF back into play.\r\n\r\n&nbsp;\r\n\r\n<u>4.3 - THE PREMIUM SERVICE - EXISTING LIVE TRADES:</u>\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/PS-LIVE-TRADES-190420151.png\"><img class=\"aligncenter size-full wp-image-5823\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/PS-LIVE-TRADES-190420151.png\" alt=\"PS LIVE TRADES 19042015\" width=\"724\" height=\"506\" /></a>\r\n\r\n&nbsp;\r\n\r\n<u>4.4 - THE PREMIUM SERVICE – EXISTING LIMIT ORDERS:</u>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/PS-LIMIT-ORDERS-190420151.png\"><img class=\"aligncenter size-full wp-image-5822\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/PS-LIMIT-ORDERS-190420151.png\" alt=\"PS LIMIT ORDERS 19042015\" width=\"707\" height=\"407\" /></a>\r\n\r\n<u>PLEASE NOTE:</u>\r\n\r\nRemember position sizes for suggested FUNDAMENTAL TRADES should be much smaller than usual, maybe only 20%-25% 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. In addition, I have added some detail on my HEDGING approach as well to the second FUNDAMENTAL TRADE alert page. More detailed information on HEDGING can be found inside the PREMIUM SERVICE website under the EDUCATION tab – Trading Essentials.\r\n\r\nI view the commodity cross-rate pairs, which form the basis of my FUNDAMENTAL TRADE SET-UPS as bonus trades away from the USD majors and over the year they can be very profitable. This is why I have a separate broker account for commodity cross-RATE PAIR trades. It gives me an immediate measurement of performance without the need to extrapolate data.\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n<u>4.5 - POTENTIAL TRADES - WHAT CHARTS AM I LOOKING AT?</u>\r\n\r\n(This section usually contains charts mainly relating to non-USD majors, 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. If there are no comments beneath the charts, my comments / thoughts are written on them directly. I will tweet and email as soon as these possible trades become LIMIT ORDERS)\r\n\r\n<u>THIS WEEKS OVERVIEW:</u>\r\n\r\nThere are not as many charts this week. I am waiting on GREECE to be sorted out. The EUR crosses do not interest me for now and coming closer to voting in the UK, the GBP crosses are falling back in priority.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/USDJPY-60M-26042015.png\"><img class=\"aligncenter size-large wp-image-5840\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/USDJPY-60M-26042015-1024x517.png\" alt=\"USDJPY 60M 26042015\" width=\"1024\" height=\"517\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/AUDUSD-60M-26042015.png\"><img class=\"aligncenter size-large wp-image-5839\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/AUDUSD-60M-26042015-1024x517.png\" alt=\"AUDUSD 60M 26042015\" width=\"1024\" height=\"517\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/EURGBP-240M-26042015.png\"><img class=\"aligncenter size-large wp-image-5838\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/EURGBP-240M-26042015-1024x517.png\" alt=\"EURGBP 240M 26042015\" width=\"1024\" height=\"517\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/EURJPY-240M-26042015.png\"><img class=\"aligncenter size-large wp-image-5837\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/EURJPY-240M-26042015-1024x517.png\" alt=\"EURJPY 240M 26042015\" width=\"1024\" height=\"517\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/GBPAUD-W-26042015.png\"><img class=\"aligncenter size-large wp-image-5836\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/GBPAUD-W-26042015-1024x517.png\" alt=\"GBPAUD W 26042015\" width=\"1024\" height=\"517\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/GBPCHF-D-26042015.png\"><img class=\"aligncenter size-large wp-image-5835\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/GBPCHF-D-26042015-1024x517.png\" alt=\"GBPCHF D 26042015\" width=\"1024\" height=\"517\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/GBPNZD-W-26042015.png\"><img class=\"aligncenter size-large wp-image-5834\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/GBPNZD-W-26042015-1024x517.png\" alt=\"GBPNZD W 26042015\" width=\"1024\" height=\"517\" /></a>\r\n\r\n&nbsp;\r\n\r\n<u>4.6 - MAJOR TRADING PAIRS WITH LONGER-TERM TRENDS MATCHING:</u>\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/2015/04/TRENDING-PAIRS-19042015.png\"><img class=\"aligncenter size-full wp-image-5824\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/TRENDING-PAIRS-19042015.png\" alt=\"TRENDING PAIRS 19042015\" width=\"412\" height=\"536\" /></a>\r\n\r\n&nbsp;\r\n\r\n<u>4.7 - THE KEY SUPPORT &amp; RESISTANCE LEVELS WITH THE USD MAJORS</u><strong><u>:\r\n</u></strong>(The reviews in the section are accompanied with weekly charts of the USD majors)\r\n\r\n<strong>EUR/USD: Closing Price 1.0868.</strong>\r\n\r\nWe are still in a very wide trading range of 1.0470 to 1.1050. As the geopolitical news about GREECE continues to roll on in the media with what seems to be a plethora of alternative deadline dates being quoted as the “FINAL, FINAL ABSOLUTELY BLOODY FINAL DATE”, the pressure intensifies on a resolution being sought.\r\n\r\nFor now however, I am going to stay sidelined until a resolution is made public. Sometimes your best trades are the ones that you do NOT take.\r\n\r\nThe immediate support and resistance is probably 1.0790 to 1.0925.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/EURUSD-W-26042015.png\"><img class=\"aligncenter size-large wp-image-5831\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/EURUSD-W-26042015-1024x517.png\" alt=\"EURUSD W 26042015\" width=\"1024\" height=\"517\" /></a>\r\n\r\n<strong> </strong>\r\n\r\n<strong> </strong>\r\n\r\n<strong>GBP/USD: Closing Price 1.5186</strong>.\r\n\r\nI talked about the engulfing candle last week, and ignored it myself. This pair moved up about 200 pips in the past 7 days. That is 500 pips in the past 14 days…..hmmmn.\r\n\r\nFrom last week:-\r\n\r\n<em>“A weekly engulfing candle is huge for the “big hitters” like the FX banks and the large fund managers / institutional traders as they plan their trading week ahead. It is cable be careful. Nevertheless I am expecting a test of the 61.8% Fibonacci on the back of momentum trading alone and this is at 1.5180. This is assuming that we can break back above 1.5000”.</em>\r\n\r\nNot a bad prediction, where did we close the week 1.5186 versus 1.5180? These Fibonacci levels do work.\r\n\r\nThis week, I am expecting a pullback as we edge closer to the UK election. The trading range should be support around 1.5050 and resistance a little higher at 1.5260. What worries me though is a massive squeeze higher prior to the mother of all pullbacks during the week of May 7<sup>th</sup> (election week).\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/GBPUSD-W-26042015.png\"><img class=\"aligncenter size-large wp-image-5830\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/GBPUSD-W-26042015-1024x517.png\" alt=\"GBPUSD W 26042015\" width=\"1024\" height=\"517\" /></a>\r\n\r\n<strong> </strong>\r\n\r\n<strong>AUD/USD: Closing Price 0.7813</strong>.\r\n\r\nI am struggling with this pair at the moment.\r\n\r\nI see a top at 0.7840 and this held on Friday, whether it hold this week is debatable. However, at the back of my mind are weakening Iron Ore prices, commodity prices GOLD and COPPER under pressure, and, the RBA looking to cut rates. This pair should be closer to 0.7000 rather than 0.8000. So I am still bearish.\r\n\r\nWe are range bound for now, and what I wrote last week is still valid: –\r\n\r\n<em>“The weekly chart below looks bullish; however we are heading up to the first barrier of resistance at 0.7850. Support is back at 0.7740”.</em>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/AUDUSD-W-26042015.png\"><img class=\"aligncenter size-large wp-image-5832\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/AUDUSD-W-26042015-1024x517.png\" alt=\"AUDUSD W 26042015\" width=\"1024\" height=\"517\" /></a>\r\n\r\n&nbsp;\r\n\r\n<strong>NZD/USD: Closing Price 0.7583</strong>.\r\n\r\nDeputy RBNZ governor Mc Dermott was quoted last week basically stating that the RBNZ were cancelling proposed rate hikes and moving to a more accommodative position.\r\n\r\nNow… remember this guy works for Mr. Indecisive none other than Graeme Wheeler who has two hands that act independently of each other 100% of the time. How he puts on a shirt in the morning must be quite amusing. (Just saying!)\r\n\r\nWe have the RBNZ interest rate announcement and policy statement this coming Wednesday. I am really looking forward to this after the FOMC statement. We need to see some clarity from the RBNZ and not the “Greenspan” approach to communication. We may see a surprise rate cut on Wednesday, but I would not at this stage be mortgaging the house on this eventuality.\r\n\r\nThe range that I am working with is 0.7520 to 0.7640\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/NZDUSD-W-26042015.png\"><img class=\"aligncenter size-large wp-image-5829\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/NZDUSD-W-26042015-1024x517.png\" alt=\"NZDUSD W 26042015\" width=\"1024\" height=\"517\" /></a>\r\n\r\n<strong> </strong>\r\n\r\n<strong> </strong>\r\n\r\n<strong>USD/CAD: Closing Price 1.2153.</strong>\r\n\r\nI think that 1.2000 is sucking this pair lower. I have my Armageddon trade set up to go long at 1.1950. It looks a way off but do not be fooled, we had a wash out of longs at 1.2350. Now it looks like the market is determined to take out institutional traders that have stops lined up just below the psychological level of 1.2000. After the flush out, I hope that 1.1950 will hold to establish a long trade.\r\n\r\nFor the coming few days I see support at 1.2075 and resistance at 1.2350.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/USDCAD-W-24042015.png\"><img class=\"aligncenter size-large wp-image-5828\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/USDCAD-W-24042015-1024x517.png\" alt=\"USDCAD W 24042015\" width=\"1024\" height=\"517\" /></a>\r\n\r\n<strong> </strong>\r\n\r\n<strong>USD/CHF: Closing Price 0.9499</strong>.\r\n\r\nNo real change week on week with regards to the closing price. However, this does NOT tell the story of the ride off the lows at 0.9500 up to 0.9720 and then back again to where we started inside 72 hours.\r\n\r\nThere is a danger being long this pair as a GREECE solution is sought from capital flows but the -0.75% interest rate should stop a lot of that movement. But, where does the money go if not to the CHF?\r\n\r\nI have my Armageddon trade placed at 0.9450 to go long…..it may not be low enough!!\r\n\r\nThe SNB are looking to move the currency, they have all but said this recently. The EUR/CHF is closer to parity than 1.1000; the GBP/CHF is closer to 1.4000 than 1.7500.\r\n\r\nDo not rule out a Thomas Jordan (SNB Governor) return in the PEG II.\r\n\r\nI see support at 0.9490 then 0.9450 with resistance at 0.9650 then 0.9720.\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/USDCHF-W-26042015.png\"><img class=\"aligncenter size-large wp-image-5827\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/USDCHF-W-26042015-1024x517.png\" alt=\"USDCHF W 26042015\" width=\"1024\" height=\"517\" /></a>\r\n\r\n<strong> </strong>\r\n\r\n<strong>USD/JPY: Closing Price 118.95. </strong>\r\n\r\nNo change from last week, and the week before for that matter. For three weeks we have closed around this level only to bounce up in the early week trading.\r\n\r\nMy same comments as last week are still valid: -\r\n\r\n<em>“Support at 115.60 and resistance at 122.00, however, we are starting to make a move towards the lower end of the range. I do not want to have everyone getting over excited but my thoughts are that with bond yield moving the pressure on the USD/JPY is intensifying and a move lower is inevitable if the correlation with U.S. treasuries sticks”.</em>\r\n\r\nImmediate support is at 118.20 and resistance back at 119.50.\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/USDJPY-W-26042015.png\"><img class=\"aligncenter size-large wp-image-5833\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/USDJPY-W-26042015-1024x517.png\" alt=\"USDJPY W 26042015\" width=\"1024\" height=\"517\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n<ol start=\"5\">\r\n	<li><strong><u> THE CONCLUSION - MY FINAL THOUGHTS:</u></strong></li>\r\n</ol>\r\n<u>5.1 - SUBSCRIBING TO THE “FREE VERSION” OF THE WEEKLY FX DRIVE THRU:</u>\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<u>5.2 –TRADING TIPS &amp; THOUGHTS FOR THE WEEK AHEAD: </u>\r\n\r\nThe major news events this week are the FOMC statement, and the RBNZ statement. USD - GDP and Consumer Confidence also stand out, as well as CAD - GBP and AUD - PPi, plus other PMi data is also on the calendar.\r\n\r\nAdd to this the on-going GREECE situation and the UK election and we have quite a few subjects to keep us glued to our computer screens.\r\n\r\nWith GREECE seemingly on the cusp of something, not quite certain what, any open trades or fresh trades placed with EUR or CHF pairs should be monitored very closely. Frankly, it may just be better to leave the EUR and CHF well alone until the GREEK situation is concluded one way or another. This is easier said than done as the desire to trade inside volatility can be too much for many traders to resist.\r\n\r\nBasically, we will trade. But we need to be aware of the factors around us that can affect pricing in an instant. As expected, I suggest that you trade smaller position sizes with wider stops to cope with the volatility.\r\n\r\nWe will have opportunities to make $$$, we just have to be alert and careful.\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\nSunday April 26th 2015\r\n\r\nEMAIL / FOLLOW ME AT:\r\npremiumservice@weeklyfxdrivethru.com\r\nTwitter: @pipaccumulator\r\nTwitter: @ThePremService\r\nGoogle+/scottpickering\r\nTumblr: thepipaccumulator\r\n\r\n&nbsp;\r\n\r\n<u>VIEWS AND COMMENTS IN THIS BLOG:</u><u> </u>\r\n\r\nAll the comments and views expressed in my blog are my thoughts and ideas only. They are based on my FUNDAMENTAL views of the markets and my thoughts on the individuals concerned on how they manage positions in the public domain. In addition, I have my own thoughts and views about what I think goes on behind closed doors. You should NOT base any trade ideas on my thoughts and views alone. As I have said on many occasions in my blog, I am a FUNDAMENTAL trader first, then a TECHNICAL trader second using chart analysis to establish what I believe to be excellent trade entry positions. However, you must make up your own mind and trade at your own risk deciding if the entry levels I refer to actually meet with your views and thoughts. This makes complete sense as the risk in trading your account is 100% owned by you.\r\n\r\n<u>THIRD PARTY COMPANIES WITH BANNERS ON MY WEBSITE:</u>\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\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. By virtue of the fact, I work with these companies almost daily. I am more than confident to have them advertise on my website. Any reader who buys products or services from any advertiser via a banner on my website, <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a> will automatically have my help and assistance with any issues that they may have with my partnered advertisers.\r\n\r\n<u>TRADING &amp; PERFORMANCES DISCLAIMER:</u>\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.','WHERE NEXT FOR THE CABLE?','','inherit','open','closed','','5842-revision-v1','','','2015-04-25 13:51:01','2015-04-25 18:51:01','',5842,'https://weeklyfxdrivethru.com/5842-revision-v1/',0,'revision','',0),(5845,1,'2015-04-25 13:57:04','2015-04-25 18:57:04','<p style=\"text-align: center;\"><strong>THE PREMIUM SERVICE\r\n</strong><strong>The Home of Single-Lot Trading\r\nwww.weeklyfxdrivethru.com</strong></p>\r\n<strong>DATE: 26.04.2015\r\nREFERENCE: #57\r\n</strong><strong>BLOG: THE PREMIUM SERVICE</strong><strong> </strong>\r\n\r\n<strong>\r\n</strong>\r\n<ol>\r\n	<li><strong> INTRODUCTION - MY OVERVIEW OF THE FOREX MARKET:</strong></li>\r\n</ol>\r\n<u>LOOKING BACKWARDS, FORWARDS &amp; SIDEWAYS (FOR GOOD MEASURE) AT THE FX MARKET:</u>\r\n\r\n<u>1.1 - LOOKING BACKWARDS:</u>\r\n\r\nThere wasn’t really much at all last week that kept me glued to my computer screens. The DXY touched trend lines, broke through (depending upon how you drew the lines) and bounced around. It was really just a range bound week that was very choppy, and at times both shorts and longs were wiped out as both range extremities were tested. There was one piece of data that hit the wires during the week that created some surprise movement, plus the continued GREECE news.\r\n\r\n<u>SNB NEGATIVE DEPOSIT – RATE AMENDMENT:</u>\r\n\r\nOn Wednesday last week, the SNB announced that they were changing the rules on negative deposit rates. Many people saw this as an easing move by the SNB and as a result the CHF was sold quite aggressively.\r\n\r\nThe USD/CHF came off its base at 0.9500 and rallied to 0.9720. The next day it gave basically all of it back. There were similar moves in the EUR/CHF and GBP/CHF, with huge chunks of the upside moves given back the following day.\r\n\r\nJust to reinforce the type of year I am having in 2015, I had what I call an “ARMEGEDDON” trade in place (one at the extremes) to go long the USD/CHF at 0.9500. It triggered and as I was adjusting my LIMIT I fat fingered it closed at 0.9521. I then set it up again back at 0.9500. 5 minutes later it was at 0.9570, it never pulled back as the market reacted to the SNB data. I took a long trade on a minute pullback, took about 30 pips and was really happy with myself as it pulled back to about 0.9640. I thought I had the top 30 pips or so of the move. Then it took off once again and finished at 0.9720.\r\n\r\nNaturally, the next day I tried to pick it up long as it pulled back and lost 50 pips in about 2 minutes. The drop was a fall like a hot knife through butter and basically the pullback move almost completely retraced the previous day’s move higher.\r\n\r\nThen on Friday, I decided to set two or three what I called “Armageddon” trades. LIMIT ORDERS at extremes. One was for the USD/CHF. Into the close this pair dropped back to 0.9500 on the nose. Not that far away from my “Armageddon” entry.\r\n\r\nThis pair rose 220 pips and gave it all back inside 72 hours that was a stunning move.\r\n\r\n&nbsp;\r\n\r\n<u>GEOPOLITICAL EVENTS:</u>\r\n<ol>\r\n	<li><u> GREECE:</u></li>\r\n</ol>\r\nIt’s still going….\r\n\r\nLast Friday we had a EUROGROUP set of meetings with EUROZONE Finance Ministers. When these guys get together it has to be the most boring collection of numpties in the world. Their advisors are pale-faced, ashen looking, never seen much sunlight and wear factor 5,000 sun creams to protect themselves. They optimize the phrase from Blackadder Goes Forth (A brilliant BBC comedy with Rowan Atkinson and Stephen Fry) – these people are “Pen Pushing, Desk Sucking, Jotter-Blotters”.\r\n\r\nJust imagine a room full of accountants educated at Cambridge or Oxford, who would consider those educated at the LSE (The London School of Economics) radical lefties, sitting in a room listening to Yanis aka no tie, Varoufakis (Greece Finance Minister) basically waffling about how Nazi Germany plundered Greek artifacts and owes the country monies back from World War II. This is content for a Ron Howard movie…priceless stuff.\r\n\r\nOn Friday, Bloomberg reported that he (Varoufakis) was considered by his peers to be “A time-waster, a gambler and an amateur”, high praise and very conducive to a GREECE settlement taking place. Varoufakis won’t have a huge Christmas card budget this year for his EUROGROUP buddies. If the boring accountants are this outspoken can you imagine what “The dogs of war” (Scheauble, Nowotny and Weidmann) would be like let 100% loose. I already think that Schaeuble must drink blood and not a burgundy at the Cheese and Wine functions.\r\n\r\nEUROGROUP leader Jeroen Dijsselbloem, tried his best to place a positive spin on events, but “yer man” Varoufakis, basically kicked him in the nuts by stating that they were poles apart from any agreement. I for one would just love to be a fly on the wall at one of these meetings.\r\n\r\nThe CONTAGION looms in my opinion and the stakes are high.\r\n\r\nThe cultural differences are immense in the EUROZONE. I have written about this fact many times over the past two years, just check out previous EUROZONE related blogs (there are plenty of them) on my home page.\r\n\r\nDebt forgiveness for GREECE and compensation for IRELAND, PORTUGAL etc. is the only way forward in my opinion. My views have not altered. This equivalent of a west-end farce played out in front of the world’s media does nothing to promote the effectiveness of the EUROZONE, nor does it show the strength in leadership ability in any area. It is in fact quite simply, a sales training video on “How not to ………….” I have seen tens of these in my earlier years on the planet.\r\n\r\nThis is going to eventually end in tears.\r\n\r\n&nbsp;\r\n<ol start=\"2\">\r\n	<li><u> OIL - YEMEN – IRAN:</u></li>\r\n</ol>\r\nWith the bombings in Yemen, allegedly being suspended, this means that the geographical location fear to OIL supplies being disrupted should be over.\r\n\r\nThe IRAN nuclear issue picks up again this week as the negotiations on TRUST recommence. This should be fascinating to observe because neither side trusts each other.\r\n\r\nFrom a trading perspective, OIL supplies are not threatened. OIL prices are rising because we have so much of it stored all over the world….go figure? I had an economics education, waste of bloody time that was… supply and demand my a**e.\r\n\r\n&nbsp;\r\n<ol start=\"3\">\r\n	<li><u> UK GENERAL ELECTION:</u></li>\r\n</ol>\r\nWe are getting closer to the polling date of May 7<sup>th</sup> 2015. As this date looms the pressure on the cable should grow as uncertainty about the result should intensify. Right now, the voter’s polls, and there are lots of them, have the Labour Party out in front, and if they are not leading it is almost a tie between the Conservatives and Labour parties.\r\n\r\nAt this point it looks like no one party will achieve an overall majority so a hung parliament with a coalition of some sorts looks to be the result.\r\n\r\nAs is with UK politics the party with the greatest number of seats in the House of Commons, has the first bite at trying to form a working coalition. It is very unclear that even if Cameron’s Conservatives won the greatest number of seats whether they would get a working majority.\r\n\r\nThe previous party of coalition, the Liberal–Democrats has performed very poorly and looks like they will not gain many seats that would help the Conservatives to achieve a working majority. Here lies the problem for the Tories, the right wing extremist party UKIP the third potential greatest seat winner wants out of the EUROPEAN UNION. Because of this, an alliance would from a Conservative position alienate huge Conservative support. Where does Cameron go to form a minority government that can hold a majority in parliament to govern?\r\n\r\nAfter the UKIP there is the SNP, however a Scottish vote supporting the Conservative party would be very unpopular in Scotland and would only be a “go-er” if huge concessions were given to Scotland re: power to manage on their own affairs. This then raises the question of Scottish MP’s voting on matters England and Wales, being part of a coalition.\r\n\r\nSo it’s not easy and this will create huge uncertainty as the polling date approaches.\r\n\r\n&nbsp;\r\n\r\n<u>1.2 - LOOKING FORWARDS:</u>\r\n\r\n<u>MAJOR FOREX NEWS THIS WEEK THAT INTERESTS ME:</u>\r\n\r\n<u>(There are many more news items related to the Forex Market than the ones listed below. These are the ones that interest me. You can go to </u><a href=\"http://www.forexfactory.com\">www.forexfactory.com</a><u> and </u><a href=\"http://www.tradingeconomics.com\">www.tradingeconomics.com</a><u> for more comprehensive lists of all news events that are Forex related).</u>\r\n\r\nSUNDAY: N/A.\r\n\r\nMONDAY: N/A.\r\n\r\nTUESDAY: USD – Consumer Confidence.\r\nTUESDAY: NZD – Trade Balance and ANZ Business Confidence.\r\n\r\nWEDNESDAY: USD – Advance GDP.\r\nWEDNESDAY: USD – FOMC Statement.\r\nWEDNESDAY: NZD – RBNZ Rate Statement &amp; Interest Rate.\r\n\r\nTHURSDAY: JPY – BOJ Press Conference &amp; Monetary Policy Statement.\r\nTHURSDAY: EUR – CPi.\r\nTHURSDAY: CAD – GDP.\r\nTHURSDAY: CNY – Manufacturing PMi.\r\nTHURSDAY: AUD – PPi.\r\n\r\nFRIDAY: GBP – Manufacturing PMi.\r\nFRIDAY: USD – ISM Manufacturing PMi.\r\n\r\n&nbsp;\r\n\r\n<u>1.3 - LOOKING SIDEWAYS (FOR GOOD MEASURE):\r\n</u>\r\n\r\n<u>FOREX MARKET CONDITIONS:</u>\r\n\r\nWe are in a range bound market. Painful as it is we have to live with it, that is of course, if unlike me, you consider yourself a range trader, in which case the champagne is on you.\r\n\r\nLast week I posted lots of charts to subscribers showing wedges, triangle patterns and lots of trend line support and resistance charts. I did not take or act upon many of the potential set-ups as they fell into place. All last week, there was a nagging feeling around the markets and nothing felt right for me<strong>. </strong>I am not sure if it was the choppiness in GOLD or the speculative moves in OIL? or perhaps it was the geopolitical news events from GREECE? I think when a major chart such as the DXY shows trend line targets in sight the market has jitters and becomes skittish, maybe that was the reason\r\n\r\nWithout doubt we need to break out of the trading ranges. From my perspective a good dose of USD strength to 102.50 should clear matters up once and for all and then we can move on.\r\n\r\nThe Central Banks around the world are also not making matters simple. We are in a currency war and it is a race to the bottom to weaken ones currency. I had thought that this would have dominated events but Central Bank importance comes and goes because we have irrational markets at times.\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n<ol start=\"2\">\r\n	<li><strong><u> WHAT’S ON MY MIND: -\r\nTHE FUNDAMENTAL TRADERS OVERVIEW:</u></strong></li>\r\n</ol>\r\n<strong> </strong>\r\n<p style=\"text-align: center;\"><strong>WHERE NEXT FOR THE CABLE?</strong></p>\r\nEarlier in the blog in section 1.3, I wrote about the geopolitical overhang surrounding the cable regarding the General Election.\r\n\r\nIn this section of the blog I am looking more at the cable short term and medium term through to the votes being counted on May 7<sup>th</sup> at the UK General Election.\r\n\r\nJust so you are all aware right now the PREMIUM SERVICE has a GBP/USD short trade #RT389 from 1.5175, the 161.8% Fibonacci level providing the entry point.\r\n\r\nShort-term I am caught, thinking that the 161.8% fib will hold and this will be a top in the GBP/USD. However, I am also conscious that algorithmic events may see at test of 1.5200 with stops being taken prior to a pullback.\r\n\r\nOverall, however I am for the reasons already written in section 1.3, bearish this pair.\r\n\r\nWe also should consider that many of the GBP cross rate pairs are also at breakout points or breakdown positions pushing resistance.\r\n\r\nI am bearish with my FUNDAMENTAL views, your views as a reader may be Bullish cable. The one thing that I can 100% guarantee you is that there will be break one way or the other and it will happen very, very soon. It will happen prior to the election, there is way too much uncertainty for it not to and this is why I am bearish. Uncertainty usually means bearish activity.\r\n\r\nHowever, I am also prepared for a break higher in the cable and the power of the commodity cross-rate pairs sucking traders into long trades only for a lot of disappointed traders to be left hanging when the bears take control as the election date looms closer.\r\n\r\nLet me make it clear after the election I expect a bounce back in cable. The one thing that I have learnt over the past 8 years of trading is that the markets are perfect as buying or selling the news and then going completely in the opposite direction as the news breaks. With this in mind I am expecting cable to dump and then do a Lazarus or a Carrie rising again. The big $64,000.00 question is when it bounces how strong will it be?\r\n<ol>\r\n	<li>Down then up.</li>\r\n	<li>Up then down then back up again</li>\r\n</ol>\r\nThose are my two thoughts on how cable is going to play out for the next two weeks. I wanted to put this on charts but found it quite difficult as the detail made the charts a little difficult to follow.\r\n\r\nI have a chart included, however, I am hoping that the following will be easy to follow.\r\n\r\nBasically, I expect a bounce after the cable fall and after the votes are counted but, the size and nature of the reverse move back higher will be defined by whether or not we have a majority or minority government. Plus in addition, we have to consider the majority party being one of Labour or Conservative as the market reactions would be different for both parties.\r\n\r\nUsing GBP/USD as a guide, I see it potentially topping at 1.5225-1.5265, but it may not even break 1.5200.\r\n\r\nAs the voting date comes closer and the banter associated with the election intensifies we could see a move lower towards 1.4750 (a move lower of about 450-500 pips). This is similar to the move that was witnessed with the Scottish Independence vote.\r\n\r\nA majority government would provide an explosive bounce through existing highs. I think that this is almost a guarantee. In my opinion, a Conservative majority government would take us back above today’s highs. With a Labour majority government, I would not expect as strong of a bounce back, as the markets will be uncertain of Labour’s delivery of policy and perhaps cable would not get back above 1.5000, but it’s all very unclear and uncertain.\r\n\r\nIf the results give a minority government, the bounce, and true market response, may be stunted the longer it takes to get a minority coalition government in place. There is therefore more potential for a further move lower towards 1.4500 or even lower, should there be a major time delay in forming a government with multiple parties. Any bounce back after a government is formed will be measured by whether it’s the Labour or Conservative party that holds the majority position within the minority government.\r\n\r\nHowever, just to further complicate matters, other events will be in play at the same time, namely GREECE and the FED possibly raising rates, and, maybe no matter what happens, with regards to the future UK government make-up the reversal move may only be a matter of 200 pips or so due to other geopolitical events and central bank activity.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/GBPUSD-SECT2-26042015.png\"><img class=\"aligncenter size-large wp-image-5841\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/GBPUSD-SECT2-26042015-1024x517.png\" alt=\"GBPUSD SECT2 26042015\" width=\"1024\" height=\"517\" /></a>\r\n\r\n&nbsp;\r\n\r\nLooking at the GBP cross rates.\r\n\r\nThe GBP/AUD for example, could have a significant move lower, we could end up sub 1.9000 around 1.8500-1.8750.\r\n\r\nWith a Labour minority government we could be as low as 1.8000. A Conservative government trying to negotiate a political partner to move forward could also see a move to 1.8000. The potential moves are rather difficult to fully take on board at the moment. But revisiting previous similar situations Forex moves will be swift and at times dramatic.\r\n\r\nThese moves will be even greater with cross rate pairs which are already traded on thinner volume; we really have to be very careful trading these pairs.\r\n\r\nThe ultimate reverse bounce back with GBP/AUD and for that matter with the GBP/CAD and GBP/NZD has the potential to be explosive as Central Bank easing from the RBA and the RBNZ in particular, will complement the reversal move higher. It would be like a double whammy effect, the potential to be very powerful. This week’s RBNZ meeting and statement will give us a better idea of where the RBNZ stand. If they are moving to a very DOVISH / ACCOMODATIVE stance this plays into a GBP/NZD long trade on the bounce.\r\n\r\nIt is a period of uncertainty with Cable and there are many possible outcomes. This makes it a dangerous pair to trade as we get closer to the election date.\r\n\r\nThe bottom line is I believe that there will be the potential for huge moves with all GBP related pairs and we should if previous similar election fallouts are repeated get two or three days of momentum and directional trading.\r\n\r\nIt should be a very interesting next couple of weeks or so.\r\n\r\n&nbsp;\r\n<ol start=\"3\">\r\n	<li><strong></strong><strong><u> THE PREMIUM SERVICE:</u></strong>&nbsp;</li>\r\n</ol>\r\n<strong><u>SUMMARY OF PERFORMANCE:</u></strong>\r\n\r\n<u>3.1 – OVERVIEW and SUBSCRIPTION PRICING:</u>\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>\r\n\r\nAt the top of the page there are three drop down menus: -\r\n\r\nPREMIUM SERVICE PROMOTIONS (if available)\r\nSIGN-UP\r\nDISCLAIMER\r\n\r\nFurther details and how to join are all contained there. You will need at PayPal account to subscribe.\r\n\r\nPREMIUM SERVICE subscription prices are below.\r\n\r\n&nbsp;\r\n\r\n<u>COMING SOON - SILVER &amp; GOLD - PREMIUM SERVICE MEMBER STATUS:</u>\r\n\r\nRegular readers will be aware that during the past couple of months I have been upgrading speeds and revising content and deliverables within the PREMIUM SERVICE.\r\n\r\nAll of my subscribers were contacted for views about the potential changes and ideas moving forward. Many items have been addressed already, but, others require additional work “behind the scenes” to implement.\r\n\r\nOne of the suggestions was to create a two-tier approach to the subscription of the PREMIUM SERVICE.\r\n\r\nBasically this is what is proposed and on the table: -\r\n\r\n<u>GOLD MEMBER STATUS:</u>\r\n<ul>\r\n	<li>100% access to the PREMIUM SERVICE website.</li>\r\n	<li>A dedicated exclusive twitter feed for GOLD subscribers only @ThePremService.</li>\r\n	<li>All trade set-ups communicated via Twitter and RADAR and FUNDAMENTAL trades additionally via email when possible.</li>\r\n	<li>The WEEKLY FX DRIVE THRU (access to the full and complete version) delivered weekly via an emailed PDF, and, viewable on line inside the PREMIUM SERVICE secure section of <a href=\"http://www.weeklyfxdrivethru.com\">weeklyfxdrivethru.com</a></li>\r\n	<li>My thoughts and comments on market conditions via twitter.</li>\r\n</ul>\r\nSubscriptions costs remain as they are (see below).\r\n\r\n<u>SILVER MEMBER STATUS:</u>\r\n<ul>\r\n	<li>A new dedicated exclusive twitter feed for SILVER subscribers only @PremServSilver.</li>\r\n	<li>Limited access to the PREMIUM SERVICE website (trade information only).</li>\r\n	<li>The WEEKLY FX DRIVE THRU (the restricted version) delivered weekly via an emailed PDF and viewable online at <a href=\"http://www.weeklyfxdrivethru.com\">weeklyfxdrivethru.com</a></li>\r\n</ul>\r\nI am hoping to launch this within the next week or so, my proposed pricing covering both GOLD &amp; SILVER subscription options is on the chart below.\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/PS-SUBSCRIPTIONS-19042015.png\"><img class=\"aligncenter size-full wp-image-5825\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/PS-SUBSCRIPTIONS-19042015.png\" alt=\"PS SUBSCRIPTIONS 19042015\" width=\"745\" height=\"486\" /></a>\r\n\r\n&nbsp;\r\n\r\n<u>3.2 - SUMMARY OF PERFORMANCE:</u>\r\n\r\n(Only the excel spreadsheets will now be shown in this section. References to previous, present and future trades “LAST WEEK’s TRADING REVIEW” will now be provided solely for the benefit of PREMIUM SERVICE subscribers and has been moved into section 4).\r\n\r\n<u>3.2.1 – PREMIUM SERVICE – COST INCOME ANALYSIS:</u>\r\n\r\n&nbsp;\r\n<p style=\"text-align: center;\">EMANATING FROM TRADE SET-UPS - 2015 to date:</p>\r\n<p style=\"text-align: center;\"><u>MICRO LOT TRADER</u> - 283 trades cost to trade = $28.30\r\n<strong>PROFIT</strong> from 283 trades = <strong><u>$399.10</u></strong></p>\r\n<p style=\"text-align: center;\"><u>MINI LOT TRADER</u> - 283 trades cost to trade = $283.00\r\n<strong>PROFIT</strong> from 283 trades = <strong><u>$3,991.00</u></strong></p>\r\n<p style=\"text-align: center;\"><u>STANDARD LOT TRADER</u> - 283 trades cost to trade = $2,830.00\r\n<strong>PROFIT</strong> from 283 trades = <strong><u>$39,910.00</u></strong></p>\r\n<p style=\"text-align: center;\"><strong><u>\r\nPLEASE NOTE:</u></strong></p>\r\n<p style=\"text-align: center;\">If this sort of risk/reward income opportunity interests you:\r\nTo join the PREMIUM SERVICE at the introductory level subscribe to the initial\r\n4 week subscription and receive a 5<sup>th</sup> week FREE!!See the PROMOTIONS tab on my landing page at\r\n<a href=\"http://www.weeklyfxdrivrethru.com\">www.weeklyfxdrivrethru.com</a>\r\nthis offer ends as soon as the new SILVER subscription level is officially launched.</p>\r\n&nbsp;\r\n\r\n<u>3.2.2 - PREMIUM SERVICE - PROFIT/LOSS RATIOS:</u>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/PS-PROFIT-LOSS-19042015.png\"><img class=\"aligncenter size-full wp-image-5813\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/PS-PROFIT-LOSS-19042015.png\" alt=\"PS PROFIT-LOSS 19042015\" width=\"415\" height=\"585\" /></a>\r\n\r\n&nbsp;\r\n\r\n<u>3.2.3 - PREMIUM SERVICE - RISK/REWARD ANALYSIS:</u>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/PS-RISK-REWARD-19042015.png\"><img class=\"aligncenter size-full wp-image-5814\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/PS-RISK-REWARD-19042015.png\" alt=\"PS RISK-REWARD 19042015\" width=\"429\" height=\"540\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n<u>3.2.4 - PREMIUM SERVICE - OVERALL TRADE SUMMARY MONTH &amp; YTD:</u>\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/PREM-SERV-PROFITS1-19042015.png\"><img class=\"aligncenter size-full wp-image-5815\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/PREM-SERV-PROFITS1-19042015.png\" alt=\"PREM SERV PROFITS1 19042015\" width=\"462\" height=\"424\" /></a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/REM-SEWRV-PROFITS2-19042015.png\"><img class=\"aligncenter size-full wp-image-5816\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/REM-SEWRV-PROFITS2-19042015.png\" alt=\"REM SEWRV PROFITS2 19042015\" width=\"456\" height=\"442\" /></a>\r\n\r\n&nbsp;\r\n<ol start=\"4\">\r\n	<li><strong><u> PREMIUM SERVICE SUBSCRIBER EXCLUSIVE CONTENT:</u></strong></li>\r\n</ol>\r\n(Section 4 is exclusive PREMIUM SERVICE content only available to PREMIUM SERVICE subscribers)\r\n\r\n<u>4.1 - EDUCATION:\r\n</u>(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<strong> </strong>\r\n<p style=\"text-align: center;\"><strong>TRADING HABITS THAT WILL HELP YOU MANAGE YOUR OPEN POSITIONS</strong></p>\r\nWhen trading, actively managing open positions is just as important as coming up with your plan. Here are three tips to help you manage your active trades\r\n<ol>\r\n	<li><strong> KEEP IN TOUCH WITH THE MARKET.</strong></li>\r\n</ol>\r\nWhether you are a hardcore technical or fundamental trader, or maybe a little of both, you cannot deny that economic reports influence price action. This is why it pays to keep tabs on the events that pose risks to your trades.\r\n\r\nSome may say that the market’s reaction to the news is more important than the news itself, but how can you make the most out of a reaction if you have no idea about the news event?\r\n\r\nDon’t forget to always pay attention to potential game changers that might invalidate or at least divert from how you expect your trade to play out.<strong> </strong>\r\n<ol start=\"2\">\r\n	<li><strong> BE FLEXIBLE WITH YOUR TRADING PLAN.</strong></li>\r\n</ol>\r\nIt is very important to be flexible with your trading plan. Of course being “FLEXIBLE” doesn’t mean being totally spontaneous and not following your initial plan at all. It just means that you are making adjustments based on factors that have changed since you made your initial plan.\r\n\r\nBeing flexible requires you to constantly check the validity of your setups as time passes. Also, keep in mind that the longer you keep your trade open, the more you expose it to different event risks. How long did you initially plan to keep your trade open? Is your setup still valid after a few hours, days or even weeks?\r\n\r\nLet’s say you spotted a potential for a double top on the AUD/USD as an intraday trade. You shorted at the “top” and wait for the price action to go down, but after a few trading sessions you see that the pair is just ranging near your entry level. Is your “double top” still valid or should you take your profits early?\r\n<ol start=\"3\">\r\n	<li><strong> UPDATE YOUR ORDERS AND POSITION SIZES.</strong></li>\r\n</ol>\r\nJust because you have the ideal risk-reward ratio and the “fool-proof” trading plan doesn’t mean that you shouldn’t also tweak your order levels and position sizes. Remember you want to minimize your risk.\r\n\r\nIf one or two factors in your trading plan don’t go your way but you think your idea still has merit, you might want to cut back on your position sizes. On the other hand, if you find that the price action turned out to be better than what you expected, you could also consider adjusting your stop losses or taking partial profits. It would be a lot better if these adjustments were included in your initial trading plan in the first place, but better late than unprofitable, right?\r\n\r\nKeep these three simple tips in mind when you trade so you don’t end up wasting your well-thought out trading plans. Before you know it, these practices will have already turned into habits.\r\n\r\n&nbsp;\r\n\r\n<u>4.2 – THE PREMIUM SERVICE – TRADING REVIEW:</u>\r\n\r\nI have spoken at length with several subscribers last week about the current market conditions and I also had a webinar with my peer group of traders earlier this week.\r\n\r\nBasically, I can sum everything that was discussed as follows: -\r\n\r\n<em>“We are in a “DAY TRADING” environment with just very few exceptions. It is a take the money and run market”.</em>\r\n\r\nWithout doubt the profit per trade is different, compared with that of 2014. With regards to pips generated this year, the PREMIUM SERVICE is by some miracle, because, I am not enjoying trading this year as much as last year, ahead of those achieved in 2014.\r\n\r\nTrading is hard this year. As I have said, and no doubt you have read various articles from different sources also, the liquidity in the FX markets is now lower than before. This results in some rather strange moves that when added to the fact we are in a range trading environment with false breaks with lower and higher out of ranges being the norm. So is it any wonder traders are losing money and getting caught more often than not on the wrong side of trades? Hence, we have shorter time framed trades with less $$$ per trade being earned as a result.\r\n\r\nI want to mention RISK OFF.\r\n\r\nLast year, we had comments every trading day about the markets being RISK AVERSE or RISK ON and RISK OFF. This year because we have basically had a one sided market RISK OFF has hardly been mentioned.\r\n\r\nI believe that this will change very soon. Price action in the USD/JPY is weird and lacks correlation with equities more times than not.\r\n\r\nThe inter-market correlations are catching my eyes once again as markets are being stretched. At the extremes, this adds to market volatility and creates uncertainty. The one-sided market has to end soon and at the extremes would seem to be the levels that create hesitation and FEAR of buying at the highs. The GREED factor then enters to ensure that as much $$$$ are pocketed. Just some food for thought as we move forward. This will then bring RISK OFF back into play.\r\n\r\n&nbsp;\r\n\r\n<u>4.3 - THE PREMIUM SERVICE - EXISTING LIVE TRADES:</u>\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/PS-LIVE-TRADES-190420151.png\"><img class=\"aligncenter size-full wp-image-5823\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/PS-LIVE-TRADES-190420151.png\" alt=\"PS LIVE TRADES 19042015\" width=\"724\" height=\"506\" /></a>\r\n\r\n&nbsp;\r\n\r\n<u>4.4 - THE PREMIUM SERVICE – EXISTING LIMIT ORDERS:</u>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/PS-LIMIT-ORDERS-190420151.png\"><img class=\"aligncenter size-full wp-image-5822\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/PS-LIMIT-ORDERS-190420151.png\" alt=\"PS LIMIT ORDERS 19042015\" width=\"707\" height=\"407\" /></a>\r\n\r\n<u>PLEASE NOTE:</u>\r\n\r\nRemember position sizes for suggested FUNDAMENTAL TRADES should be much smaller than usual, maybe only 20%-25% 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. In addition, I have added some detail on my HEDGING approach as well to the second FUNDAMENTAL TRADE alert page. More detailed information on HEDGING can be found inside the PREMIUM SERVICE website under the EDUCATION tab – Trading Essentials.\r\n\r\nI view the commodity cross-rate pairs, which form the basis of my FUNDAMENTAL TRADE SET-UPS as bonus trades away from the USD majors and over the year they can be very profitable. This is why I have a separate broker account for commodity cross-RATE PAIR trades. It gives me an immediate measurement of performance without the need to extrapolate data.\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n<u>4.5 - POTENTIAL TRADES - WHAT CHARTS AM I LOOKING AT?</u>\r\n\r\n(This section usually contains charts mainly relating to non-USD majors, 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. If there are no comments beneath the charts, my comments / thoughts are written on them directly. I will tweet and email as soon as these possible trades become LIMIT ORDERS)\r\n\r\n<u>THIS WEEKS OVERVIEW:</u>\r\n\r\nThere are not as many charts this week. I am waiting on GREECE to be sorted out. The EUR crosses do not interest me for now and coming closer to voting in the UK, the GBP crosses are falling back in priority.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/USDJPY-60M-26042015.png\"><img class=\"aligncenter size-large wp-image-5840\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/USDJPY-60M-26042015-1024x517.png\" alt=\"USDJPY 60M 26042015\" width=\"1024\" height=\"517\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/AUDUSD-60M-26042015.png\"><img class=\"aligncenter size-large wp-image-5839\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/AUDUSD-60M-26042015-1024x517.png\" alt=\"AUDUSD 60M 26042015\" width=\"1024\" height=\"517\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/EURGBP-240M-26042015.png\"><img class=\"aligncenter size-large wp-image-5838\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/EURGBP-240M-26042015-1024x517.png\" alt=\"EURGBP 240M 26042015\" width=\"1024\" height=\"517\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/EURJPY-240M-26042015.png\"><img class=\"aligncenter size-large wp-image-5837\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/EURJPY-240M-26042015-1024x517.png\" alt=\"EURJPY 240M 26042015\" width=\"1024\" height=\"517\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/GBPAUD-W-26042015.png\"><img class=\"aligncenter size-large wp-image-5836\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/GBPAUD-W-26042015-1024x517.png\" alt=\"GBPAUD W 26042015\" width=\"1024\" height=\"517\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/GBPCHF-D-26042015.png\"><img class=\"aligncenter size-large wp-image-5835\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/GBPCHF-D-26042015-1024x517.png\" alt=\"GBPCHF D 26042015\" width=\"1024\" height=\"517\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/GBPNZD-W-26042015.png\"><img class=\"aligncenter size-large wp-image-5834\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/GBPNZD-W-26042015-1024x517.png\" alt=\"GBPNZD W 26042015\" width=\"1024\" height=\"517\" /></a>\r\n\r\n&nbsp;\r\n\r\n<u>4.6 - MAJOR TRADING PAIRS WITH LONGER-TERM TRENDS MATCHING:</u>\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/2015/04/TRENDING-PAIRS-19042015.png\"><img class=\"aligncenter size-full wp-image-5824\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/TRENDING-PAIRS-19042015.png\" alt=\"TRENDING PAIRS 19042015\" width=\"412\" height=\"536\" /></a>\r\n\r\n&nbsp;\r\n\r\n<u>4.7 - THE KEY SUPPORT &amp; RESISTANCE LEVELS WITH THE USD MAJORS</u><strong><u>:\r\n</u></strong>(The reviews in the section are accompanied with weekly charts of the USD majors)\r\n\r\n<strong>EUR/USD: Closing Price 1.0868.</strong>\r\n\r\nWe are still in a very wide trading range of 1.0470 to 1.1050. As the geopolitical news about GREECE continues to roll on in the media with what seems to be a plethora of alternative deadline dates being quoted as the “FINAL, FINAL ABSOLUTELY BLOODY FINAL DATE”, the pressure intensifies on a resolution being sought.\r\n\r\nFor now however, I am going to stay sidelined until a resolution is made public. Sometimes your best trades are the ones that you do NOT take.\r\n\r\nThe immediate support and resistance is probably 1.0790 to 1.0925.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/EURUSD-W-26042015.png\"><img class=\"aligncenter size-large wp-image-5831\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/EURUSD-W-26042015-1024x517.png\" alt=\"EURUSD W 26042015\" width=\"1024\" height=\"517\" /></a>\r\n\r\n<strong> </strong>\r\n\r\n<strong> </strong>\r\n\r\n<strong>GBP/USD: Closing Price 1.5186</strong>.\r\n\r\nI talked about the engulfing candle last week, and ignored it myself. This pair moved up about 200 pips in the past 7 days. That is 500 pips in the past 14 days…..hmmmn.\r\n\r\nFrom last week:-\r\n\r\n<em>“A weekly engulfing candle is huge for the “big hitters” like the FX banks and the large fund managers / institutional traders as they plan their trading week ahead. It is cable be careful. Nevertheless I am expecting a test of the 61.8% Fibonacci on the back of momentum trading alone and this is at 1.5180. This is assuming that we can break back above 1.5000”.</em>\r\n\r\nNot a bad prediction, where did we close the week 1.5186 versus 1.5180? These Fibonacci levels do work.\r\n\r\nThis week, I am expecting a pullback as we edge closer to the UK election. The trading range should be support around 1.5050 and resistance a little higher at 1.5260. What worries me though is a massive squeeze higher prior to the mother of all pullbacks during the week of May 7<sup>th</sup> (election week).\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/GBPUSD-W-26042015.png\"><img class=\"aligncenter size-large wp-image-5830\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/GBPUSD-W-26042015-1024x517.png\" alt=\"GBPUSD W 26042015\" width=\"1024\" height=\"517\" /></a>\r\n\r\n<strong> </strong>\r\n\r\n<strong>AUD/USD: Closing Price 0.7813</strong>.\r\n\r\nI am struggling with this pair at the moment.\r\n\r\nI see a top at 0.7840 and this held on Friday, whether it hold this week is debatable. However, at the back of my mind are weakening Iron Ore prices, commodity prices GOLD and COPPER under pressure, and, the RBA looking to cut rates. This pair should be closer to 0.7000 rather than 0.8000. So I am still bearish.\r\n\r\nWe are range bound for now, and what I wrote last week is still valid: –\r\n\r\n<em>“The weekly chart below looks bullish; however we are heading up to the first barrier of resistance at 0.7850. Support is back at 0.7740”.</em>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/AUDUSD-W-26042015.png\"><img class=\"aligncenter size-large wp-image-5832\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/AUDUSD-W-26042015-1024x517.png\" alt=\"AUDUSD W 26042015\" width=\"1024\" height=\"517\" /></a>\r\n\r\n&nbsp;\r\n\r\n<strong>NZD/USD: Closing Price 0.7583</strong>.\r\n\r\nDeputy RBNZ governor Mc Dermott was quoted last week basically stating that the RBNZ were cancelling proposed rate hikes and moving to a more accommodative position.\r\n\r\nNow… remember this guy works for Mr. Indecisive none other than Graeme Wheeler who has two hands that act independently of each other 100% of the time. How he puts on a shirt in the morning must be quite amusing. (Just saying!)\r\n\r\nWe have the RBNZ interest rate announcement and policy statement this coming Wednesday. I am really looking forward to this after the FOMC statement. We need to see some clarity from the RBNZ and not the “Greenspan” approach to communication. We may see a surprise rate cut on Wednesday, but I would not at this stage be mortgaging the house on this eventuality.\r\n\r\nThe range that I am working with is 0.7520 to 0.7640\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/NZDUSD-W-26042015.png\"><img class=\"aligncenter size-large wp-image-5829\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/NZDUSD-W-26042015-1024x517.png\" alt=\"NZDUSD W 26042015\" width=\"1024\" height=\"517\" /></a>\r\n\r\n<strong> </strong>\r\n\r\n<strong> </strong>\r\n\r\n<strong>USD/CAD: Closing Price 1.2153.</strong>\r\n\r\nI think that 1.2000 is sucking this pair lower. I have my Armageddon trade set up to go long at 1.1950. It looks a way off but do not be fooled, we had a wash out of longs at 1.2350. Now it looks like the market is determined to take out institutional traders that have stops lined up just below the psychological level of 1.2000. After the flush out, I hope that 1.1950 will hold to establish a long trade.\r\n\r\nFor the coming few days I see support at 1.2075 and resistance at 1.2350.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/USDCAD-W-24042015.png\"><img class=\"aligncenter size-large wp-image-5828\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/USDCAD-W-24042015-1024x517.png\" alt=\"USDCAD W 24042015\" width=\"1024\" height=\"517\" /></a>\r\n\r\n<strong> </strong>\r\n\r\n<strong>USD/CHF: Closing Price 0.9499</strong>.\r\n\r\nNo real change week on week with regards to the closing price. However, this does NOT tell the story of the ride off the lows at 0.9500 up to 0.9720 and then back again to where we started inside 72 hours.\r\n\r\nThere is a danger being long this pair as a GREECE solution is sought from capital flows but the -0.75% interest rate should stop a lot of that movement. But, where does the money go if not to the CHF?\r\n\r\nI have my Armageddon trade placed at 0.9450 to go long…..it may not be low enough!!\r\n\r\nThe SNB are looking to move the currency, they have all but said this recently. The EUR/CHF is closer to parity than 1.1000; the GBP/CHF is closer to 1.4000 than 1.7500.\r\n\r\nDo not rule out a Thomas Jordan (SNB Governor) return in the PEG II.\r\n\r\nI see support at 0.9490 then 0.9450 with resistance at 0.9650 then 0.9720.\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/USDCHF-W-26042015.png\"><img class=\"aligncenter size-large wp-image-5827\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/USDCHF-W-26042015-1024x517.png\" alt=\"USDCHF W 26042015\" width=\"1024\" height=\"517\" /></a>\r\n\r\n<strong> </strong>\r\n\r\n<strong>USD/JPY: Closing Price 118.95. </strong>\r\n\r\nNo change from last week, and the week before for that matter. For three weeks we have closed around this level only to bounce up in the early week trading.\r\n\r\nMy same comments as last week are still valid: -\r\n\r\n<em>“Support at 115.60 and resistance at 122.00, however, we are starting to make a move towards the lower end of the range. I do not want to have everyone getting over excited but my thoughts are that with bond yield moving the pressure on the USD/JPY is intensifying and a move lower is inevitable if the correlation with U.S. treasuries sticks”.</em>\r\n\r\nImmediate support is at 118.20 and resistance back at 119.50.\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/USDJPY-W-26042015.png\"><img class=\"aligncenter size-large wp-image-5833\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/04/USDJPY-W-26042015-1024x517.png\" alt=\"USDJPY W 26042015\" width=\"1024\" height=\"517\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n<ol start=\"5\">\r\n	<li><strong><u> THE CONCLUSION - MY FINAL THOUGHTS:</u></strong></li>\r\n</ol>\r\n<u>5.1 - SUBSCRIBING TO THE “FREE VERSION” OF THE WEEKLY FX DRIVE THRU:</u>\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<u>5.2 –TRADING TIPS &amp; THOUGHTS FOR THE WEEK AHEAD: </u>\r\n\r\nThe major news events this week are the FOMC statement, and the RBNZ statement. USD - GDP and Consumer Confidence also stand out, as well as CAD - GBP and AUD - PPi, plus other PMi data is also on the calendar.\r\n\r\nAdd to this the on-going GREECE situation and the UK election and we have quite a few subjects to keep us glued to our computer screens.\r\n\r\nWith GREECE seemingly on the cusp of something, not quite certain what, any open trades or fresh trades placed with EUR or CHF pairs should be monitored very closely. Frankly, it may just be better to leave the EUR and CHF well alone until the GREEK situation is concluded one way or another. This is easier said than done as the desire to trade inside volatility can be too much for many traders to resist.\r\n\r\nBasically, we will trade. But we need to be aware of the factors around us that can affect pricing in an instant. As expected, I suggest that you trade smaller position sizes with wider stops to cope with the volatility.\r\n\r\nWe will have opportunities to make $$$, we just have to be alert and careful.\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\nSunday April 26th 2015\r\n\r\nEMAIL / FOLLOW ME AT:\r\npremiumservice@weeklyfxdrivethru.com\r\nTwitter: @pipaccumulator\r\nTwitter: @ThePremService\r\nGoogle+/scottpickering\r\nTumblr: thepipaccumulator\r\n\r\n&nbsp;\r\n\r\n<u>VIEWS AND COMMENTS IN THIS BLOG:</u><u> </u>\r\n\r\nAll the comments and views expressed in my blog are my thoughts and ideas only. They are based on my FUNDAMENTAL views of the markets and my thoughts on the individuals concerned on how they manage positions in the public domain. In addition, I have my own thoughts and views about what I think goes on behind closed doors. You should NOT base any trade ideas on my thoughts and views alone. As I have said on many occasions in my blog, I am a FUNDAMENTAL trader first, then a TECHNICAL trader second using chart analysis to establish what I believe to be excellent trade entry positions. However, you must make up your own mind and trade at your own risk deciding if the entry levels I refer to actually meet with your views and thoughts. This makes complete sense as the risk in trading your account is 100% owned by you.\r\n\r\n<u>THIRD PARTY COMPANIES WITH BANNERS ON MY WEBSITE:</u>\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\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. By virtue of the fact, I work with these companies almost daily. I am more than confident to have them advertise on my website. Any reader who buys products or services from any advertiser via a banner on my website, <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a> will automatically have my help and assistance with any issues that they may have with my partnered advertisers.\r\n\r\n<u>TRADING &amp; PERFORMANCES DISCLAIMER:</u>\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.','WHERE NEXT FOR THE CABLE?','','inherit','open','closed','','5842-revision-v1','','','2015-04-25 13:57:04','2015-04-25 18:57:04','',5842,'https://weeklyfxdrivethru.com/5842-revision-v1/',0,'revision','',0),