(8607,1,'2016-11-05 16:18:01','2016-11-05 21:18:01','<strong> </strong>\r\n<ol>\r\n 	<li><strong> INTRODUCTION:</strong></li>\r\n</ol>\r\nI was going to make the title of this week’s blog something relevant to the U.S. Presidential election.\r\n\r\nOn Friday last week, CNN posted a poll stating that 83% of eligible Americans who can vote were disgusted with the way the Presidential campaigns were run.\r\n\r\nSo to all American readers….\r\n\r\nPlease, get out there and…\r\n\r\n<strong>VOTE FOR YOUR LEAST HATED CANDIDATE\r\n</strong>\r\n\r\nand let’s get the news cycle changed, please I am begging you!!\r\n\r\n&nbsp;\r\n\r\nMoving on…\r\n\r\nLast week was a very busy week for news items.\r\n\r\nI made an elementary mistake early in the week that I paid the ultimate price for. Even though I was aware of the geopolitical events on the horizon coupled with a packed economic calendar, I went into long USD trades too early, although not too aggressively. I took some hits, which has set me back a little.\r\n\r\nI was also caught off my guard with the U.S. opinion polls, from which, I took my trades expecting a bounce in the DXY but the flight to safety surrounding the possible TRUMP election victory took me for 300 pips. I felt somewhat like a lamb to the slaughter. However, as I have written about several times in this blog it’s NOT about how you fall down, it’s more about how you get back up!\r\n\r\nLooking ahead…\r\n\r\nI am a huge believer in having a TRADE PLAN and then actually trying to TRADE YOUR PLAN. You will read in many places a phrase PLAN YOUR TRADES and TRADE YOUR PLAN. I believe 100% with this approach to Forex. When I go into big news items I will have my plan in mind, as I need to know what way I am going to play the news, if it is my intention to trade the news. On many occasions I stay sidelined. I have moved more and more to trading with a longer-term perspective and to be effective with this type of trading you have to be able for the most part to sit through news releases. There are from time to time exceptions but for the main part my trades are there longer term.\r\n\r\nThis was not how I approached trading Forex in 2015 and definitely not my approach in 2014. Why am I writing about this?\r\n\r\nBasically because I have just completed my October 2016 PREMIUM SERVICE performance, and updated all areas on my website whether open to all or the restricted areas open only to my PREMIUM SERVICE subscribers.\r\n\r\n2016 was a very different year and looking back on what I wrote in late December 2015 and early 2016 in my DRIVE THRU blogs the year has panned out almost 180 degrees away from what I expected.\r\n\r\nThe PREMIUM SERVICE performance has been fantastic (there’s nothing like self-praise) when I review the year so far\r\n\r\nI am planning 2017 at the moment. I am looking at everything that I do with my business from the day to day to the macro level.\r\n\r\nFrom this week until the end of this year, Section 2 of the blog will be extended to show greater detail of the PREMIUM SERVICE returns. I am hoping that non-subscribers will find this additional information beneficial and convince them that they are missing out and subscribe.\r\n\r\nDo not forget…\r\n\r\nJust a quick reminder; each month, I am giving away a FREE PREMIUM SERVICE 4-week subscription. This gives the winner 100% access to the PREMIUM SERVICE website and ALL my PREMIUM SERVICE communications from my suggested trade set-ups to market commentaries and my thoughts.\r\n\r\nTo stand a chance of being the next subscription winner, you need to subscribe to receive this free blog via my website <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a><strong>  </strong><strong> </strong>\r\n\r\nYou are automatically entered into a free monthly draw, once you’ve subscribed. Each month one lucky blog subscriber will receive a free subscription to the PREMIUM SERVICE.\r\n\r\n<strong> </strong>\r\n<ol start=\"2\">\r\n 	<li><strong> THE PREMIUM SERVICE:</strong></li>\r\n</ol>\r\n<u>WHAT IS THE PREMIUM SERVICE:</u>\r\n\r\nThe PREMIUM SERVICE is a subscriber, fee based trade set-up option for Forex traders regardless of experience or background. I provide traders suggested trades, and some market commentary related to open trades or factors within the overall market that have my interest.\r\n\r\nFull details of the PREMIUM SERVICE and the various trade styles plus how suggested trade set-ups are communicated can be found on my website landing page at <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a> by selecting THE PREMIUM SERVICE tab.\r\n\r\nAdditional information can be found by clicking TESTIMONIALS, PART-TIME TRADERS and FX PROMOTIONS tabs. To subscribe to THE PREMIUM SERVICE you will require a credit card.\r\n\r\n<u>PREMIUM SERVICE SUBSCRIPTION COSTS:</u>\r\n\r\nDetails of features and benefits of a PREMIUM SERVICE subscription can be found on my website landing page at <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a> under the dropdown tab at the top of the page entitled HISTORY &amp; PERFORMANCE OF THE PREMIUM SERVICE. To subscribe follow the SUBSCRIBE HERE tab.\r\n\r\nPREMIUM SERVICE subscription costs are as follows: -\r\n\r\nCAD$240.00 - 4 weeks (1 month)\r\nCAD$500.00 - 10 weeks (3 months)\r\nCAD$750.00 - 20 weeks (6 months)CAD$1,250.00 - 40 weeks (12 months)\r\n<u>PLUS</u>: Existing PLATINUM MEMBERS (annual subscribers) can re-subscribe for a further 12 months for CAD$1,000.00\r\n\r\nI work for about 40 weeks a year. Subscriptions are based on 40 published blogs of the WEEKLY FX DRIVE THRU per year. For the remaining 10 weeks, I am around tweeting, posting and managing existing LIVE trades, although my market activity is reduced.\r\n\r\n<u>PREMIUM SERVICE PERFORMANCE:</u>\r\n\r\nPRESENT AND HISTORICAL QUICK PREMIUM SERVICE STATS:\r\n\r\nOCTOBER 2016\r\nNET PIPS OCTOBER:        +2,633 pips\r\nNET PIPS 2016 END OF OCTOBER:      +11,618 pips\r\n\r\nTHIS MONTH SO FAR TO 05.11.2016: -194 pips\r\nYEAR TO DATE TOTAL: +11,424 pips\r\n\r\nNET PIPS 2015:       +10,686 pips\r\nNET PIPS 2014:       +11,209 pips\r\n\r\nBelow, for additional information on the past and current trading I include excel spreadsheets detailing the overviews of the PREMIUM SERVICE performance.\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/PREM-SERV-NET-PROFITS-2014.png\"><img class=\"aligncenter size-full wp-image-8587\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/PREM-SERV-NET-PROFITS-2014.png\" alt=\"prem-serv-net-profits-2014\" width=\"1012\" height=\"838\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/PREM-SERV-NET-PROFITS-2015.png\"><img class=\"aligncenter size-full wp-image-8588\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/PREM-SERV-NET-PROFITS-2015.png\" alt=\"prem-serv-net-profits-2015\" width=\"1010\" height=\"872\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/PREM-SERV-NET-PROFITS-2016.png\"><img class=\"aligncenter size-large wp-image-8597\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/PREM-SERV-NET-PROFITS-2016-925x1024.png\" alt=\"prem-serv-net-profits-2016\" width=\"925\" height=\"1024\" /></a>\r\n\r\n&nbsp;\r\n\r\nPART-TIME TRADER (POSITION) TRADES:\r\n\r\nAt the end of 2015, having listened to many of my subscribers and from a market survey that I undertook, I wanted to try and address those Forex traders who would consider themselves to be a PART-TIME trader for whatever reason.\r\n\r\nPART-TIME FOREX TRADERS fall between a rock and a hard place.  It is very, very difficult with limited access to computers due to full-time employment or limited access to a computer due time constraints, to have a voice when trading.\r\n\r\nNow more than ever you really need to be 24 x 5 with your devices to keep on top of things.\r\n\r\nI wanted to try and find a trading solution for PART-TIME TRADERS.\r\n\r\nLet me be the first to say, my solution is not 100% perfect. You can put lipstick on a pig but it’s still a pig, if you understand me. This is not an easy fix. But I wanted to try, and to be honest, timing in Forex is everything.\r\n\r\nMy initial solution, and it is on-going, has been my savior to my trading performance this year so far, with just 6/7 weeks left to go.\r\n\r\nI introduced PART-TIME TRADER TRADES now called POSITION TRADES at the start of 2016. This trading style is based upon my FUNDAMENTAL longer-term market views. These trades are LIMIT ORDER entry trades with very wide stops based on ATR (Average True Range) limits, mostly weekly limits, but sometimes monthly limits, using Fibonacci levels and trend lines to set stops and limits.\r\n\r\nThey have been, due to the way that the Forex market has been held to ransom inside tight trading ranges for most of the year, creating very choppy market conditions very successful.\r\n\r\nI am NOT saying that these trades and the way I trade them because I still have to assess trades all the time and close off trades early etc.… are the “B all and end all” holy grail for PART-TIME TRADERS but they are a step in the right direction.\r\n\r\nThese trades also suit FULL-TIME traders who want to take a longer-term perspective.\r\n\r\nHow successful have they been?\r\n\r\nHow do I measure their success?\r\n\r\nVery simply, when launching these trades, a year ago I created a page on my website landing page at <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a> called PART TIME FOREX TRADERS it is part of my drop down menu at the top of my landing page.\r\n\r\nI tried my best to define my target audience and I posted a cash flow projection, it is still there today and I have subsequently added quarterly reviews during the year.\r\n\r\nBelow is the initial cash flow projection that was posted the first week of January 2016.\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/POS-TRADES-CASHFLOW-JAN16.png\"><img class=\"aligncenter size-large wp-image-8590\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/POS-TRADES-CASHFLOW-JAN16-808x1024.png\" alt=\"pos-trades-cashflow-jan16\" width=\"808\" height=\"1024\" /></a>\r\n\r\nI am not going to spend a great deal of time on this. Basically for the purpose of this section of the DRIVE THRU blog will focus solely on MINI LOT traders.\r\n\r\nMy suggestion on day 1, was to open a broker account with USD$7,500. At the end of the year based only on single lot trades after costs to trade and my PREMIUM SERVICE annual subscription my goal was to grow the broker account from USD$7,500 to $15,052.50 by the end of 2016.\r\n\r\n<span style=\"color: #0000ff;\"><strong><u>That would be to double your initial investment after ALL costs were accounted for.</u></strong></span>\r\n\r\nHow have I faired with this quest?\r\n\r\nBelow is the spreadsheet update post I made to my website on the 31<sup>st</sup> March 2016. Three months after the launch.\r\n\r\n<strong> <a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/POS-TRADES-CASHFLOW-MARCH16.png\"><img class=\"aligncenter size-large wp-image-8591\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/POS-TRADES-CASHFLOW-MARCH16-1024x864.png\" alt=\"pos-trades-cashflow-march16\" width=\"1024\" height=\"864\" /></a></strong>\r\n\r\nAs you can see the initial USD$7.500.00 now stood at USD$9,655.00 after ALL costs were accounted for.\r\n\r\nBelow is the spreadsheet update added to my drop down menu and posted on July 11<sup>th</sup> 2016.<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/POS-TRADES-CASHFLOW-JUNE16.png\"><img class=\"aligncenter size-large wp-image-8592\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/POS-TRADES-CASHFLOW-JUNE16-1024x806.png\" alt=\"pos-trades-cashflow-june16\" width=\"1024\" height=\"806\" /></a>\r\n\r\nAs you can now further profits were added and the position at the end of June was USD$11,723.00. Again this is the net position after all costs have been taken into consideration.\r\n\r\nBelow is the update posted on 31<sup>st</sup> October 2016.\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/POS-TRADES-CASHFLOW-OCT16.png\"><img class=\"aligncenter size-large wp-image-8593\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/POS-TRADES-CASHFLOW-OCT16-1024x792.png\" alt=\"pos-trades-cashflow-oct16\" width=\"1024\" height=\"792\" /></a>\r\n\r\nAt the end of last month, the cumulative position now shows that the original account with USD$7,500 now stands at net USD$13,868.00.\r\n\r\nThere is just under USD$1,200 in income left to achieve (1,200 pips over the months of November and December). It is a tall order.\r\n\r\nThere are more comments regarding the performance on my website under THE PART TIME TRADERS drop down menu.\r\n\r\nWhat about my macro thoughts on the performance of the POSITION TRADES?\r\n\r\nMy thoughts are very straightforward: -\r\n<ol>\r\n 	<li>This (2016) has been an extremely difficult year to trade in.</li>\r\n 	<li>My approach to trading this year has been almost a 180 degree turn on 2015 trading.</li>\r\n 	<li>Features and factors that prompted me to start this trading style, namely central bank diversification never became as big of an issue as I thought it would have been. I had to re-focus and adapt the POSITION trade set ups to compensate for this.</li>\r\n 	<li>This review of style, manifested itself in the facts that my projection was for just 90 trades in the year. So far I have completed 146 trades (more than 50% more than anticipated). My profits per trade are less and my losses per trade are well under projection.</li>\r\n 	<li>I am, given the above points 1-4, delighted to have achieved this performance so far.</li>\r\n 	<li>Have I delivered what I set out for PART-TIME traders? Not 100%. I have delivered profits but the timings for closing of trades is still an issue. I cannot let losses grow or profits diminish due to a trading style. I have to 100% trade the price action in the market as I see it.</li>\r\n 	<li>What about 2017?I will continue this trading style next year, but I will review my other trading styles. It is impossible to predict what type of a trading year 2017 will be, apart from the fact it contains 365 days and that there will always be a forex market every day the market is open.</li>\r\n</ol>\r\nIf you would like additional supporting data or detail about the performance and the tabs on my website landing page at <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a> do not answer your questions, contact me directly and I will supply the trading data you require. There are NO secrets. There are many, many spreadsheets detailing performance trade by trade and by trade and by trading style, way too many to place in this blog. If you are interested in the PREMIUM SERVICE and want more information, all you have to do is ask.\r\n\r\n<strong> </strong>\r\n<ol start=\"3\">\r\n 	<li><strong> LOOKING BACKWARDS: THE FX MARKET PLACE</strong></li>\r\n</ol>\r\n<strong>LAST WEEK’S FOREX and ECONOMIC NEWS – MY VIEWS:</strong>\r\n\r\nUK BREXIT HIGH COURT RULING &amp; BOE INFLATION REPORT:\r\n\r\nHoly crap.\r\n\r\nI totally get the high court’s reasoning behind parliament needing an agreement to trigger article 50. However, one would have thought given the fact that all along David Cameron (ex. UK Prime Minister) and Theresa May (current Prime Minister) have both stated that it was in the UK governments power alone to trigger article 50, that the legal “johnnies” would have given Cameron a legal opinion on this matter prior to the voting slips being printed?\r\n\r\nOr did Cameron enter the referendum believing all was well in blighty… well it may have been in central London and no legal opinion was sought, did he believe that it was a slam dunk REMAIN victory?\r\n\r\nWhat emanates out of this court ruling is yet more uncertainty. The appeal against this decision will be heard the first week of December and ruled upon then.\r\n\r\nI would love an audience with Cameron and May to ask them a few questions about this process.\r\n\r\nThe referendum voting slip said: -\r\n\r\n<strong>“This is your decision. The Government will implement what you decide”</strong>\r\n\r\nThe Supreme court could go either way on the high court ruling.\r\n\r\nAt the end of the day, let’s say Parliament has to vote. MP’s in fear of not being elected next time around, would be one brick from a full load if they did NOT vote in line with their constituents wishes from the BREXIT vote last June. If it’s just a vote, this is politics, the MP’s will vote in line with the people who elected them to represent their wishes.\r\n\r\nIn my opinion, it all depends on the wording of the paper put before the MP’s to vote on. It will end up being so vague to ensure an agreement between the House of Commons and the popular vote last June.\r\n\r\nThen we move on…. here’s a thought!\r\n\r\nTheresa May might call a snap general election, to firm up her mandate over the BREXIT negotiations and timings. Elections in the UK are usually held in Spring or Autumn. Dissolving Parliament takes 25-30 days, could she hold an election in March 2017? Yes; she could; and rule nothing out about having an election in March 2017, with the mandate to trigger Article 50 by the end of the month.\r\n\r\nMy fear about all of this is that if parliament gets too much debating time over BREXIT negotiations, this weakens the UK exit negotiating team’s abilities in the negotiating process. All this stuff about HARD BREXIT or SOFT BREXIT is all bollo**s in my opinion, you are either in or out, the process may be straightforward but both sides want the best deal for them for basic and very obvious reasons.\r\n<ul>\r\n 	<li>EUROPEAN UNION – does not want the UK to cherry pick, because this will cause a CONTAGION effect.</li>\r\n 	<li>UK – wants border controls and the London Financial hub to remain as is.</li>\r\n</ul>\r\nHaving a huge debate in Parliament is like (from the wild west days) “Selling guns to the Indians”. All the UK lines in the sand will be out there in the media and in front of the European union negotiating teams. This is going to result in the UK being on the back foot during negotiating and elevates the position of the European Union negotiating team.\r\n\r\nWe are as traders guaranteed more uncertainty and frankly I am still of the opinion to sell the rips in cable, my views on this have not changed. So, with BREXIT being the decision of the people…my arse it was….so far what was a clear vote has caused nothing but uncertainties.\r\n\r\nMoving on….\r\n\r\nAt his latest Press Conference, this time the BOE Inflation Report, Carney did the usual, now customary, re-jigging of growth numbers that take place at practically every Central Bank press conference, regardless of location in the world. However, Carney was projecting upwards revisions rather than downwards. I had a nose bleed when I saw the numbers.\r\n\r\nDespite all the gloom and doom from the “REMAIN” campaigners the UK economy so far has been extremely resilient. Carney moved revised upwards the GBP projections from this quarter through to 2018. Although let’s be clear higher CPi numbers comes from, in the main, the weaker currency moves in sterling.\r\n\r\nThe two events combined created a nice spike, to sell into in my opinion. Nothing has FUNDAMENTALLY changed when you look at all things. The big issue that Carney has to consider moving forward is that with regards to inward investment into the UK. He has to strike a balance between inflation potentials and interest rates to ensure that investment continues to come through.\r\n\r\nThose pundits / analysts calling for rate hikes next year are a little premature in my opinion. There is a lot of water due to flow under the bridge before the subject of interest rate hikes should be contemplated never mind discussed.\r\n\r\nFOMC STATEMENT:\r\n\r\nA non-event. I would however point out that there was a line in the statement that called for more improvement in data. The UBER DOVE… Janet Yellen may use this as a way to hold off further on increasing rates.\r\n\r\nI have written several times stating that it is so easy to be DOVE and much harder to be a HAWK.\r\n\r\nI believe that Janet Yellen has displayed so much hesitancy in her time a FED chair, that she is a ditherer. God only knows what will happen in December if the lost awaited heavily anticipated and predicted interest rate hike does not happen.\r\n\r\nTHE U.S. PRESIDENTIAL ELECTION:\r\n\r\nI eluded to this earlier in the blog. THE TRUMP effect is in play. The USD/MXN is the TRUMP TRADE. If you believe that TRUMP will be elected president, go long this pair. If you believe it will be HILLARY send her an email with the heading CLASSIFIED and go short the USD/MXN.\r\n\r\nAs numerous polls are released the USD/MXN reacts based upon who is out in front. The USD/MXN is up and down more time than a pair of prostitute’s knickers.\r\n\r\nNot only is the USD/MXN directly affected with wild swings it all spills over the DXY and a flight to safety trade with both the JPY and CHF. I am certain that Thomas Jordan at the SNB is not a happy puppy about all of this volatile price action.\r\n\r\nLess than a week to go. Then we can trade on reality…whatever form that will be!!\r\n\r\nOPEC – PRODUCTION CUTS:\r\n\r\nAs I have written over and over. There is an oil glut. There is a massive miss between supply and demand.\r\n\r\nFrankly oil has had its day. The self-serving countries that formed the cartel OPEC have never agreed on a damn thing from day one unless oil prices have been rising. To have a production cut or freeze frankly in an environment where this cannot be checked is a joke.\r\n\r\nOPEC released a glibly worded agreement (verbally) to have the I’s dotted and t’s crossed at the end of November 2016. They had to do something after the Algiers meeting. In my opinion had they done nothing, the price of oil was once doomed to move lower to $30.00. They bought themselves some time, which appears to have backfired. They gave the waiting press a bulls*t statement, which, of course, the markets bought and oil rallied through $50.00, which, it could not sustain.\r\n\r\nA statement from the Saudis in response to an Iranian release that they would not freeze output was announced, basically it was along the lines of “If you don\'t freeze we will pump like feck… it was allegedly not made and was withdrawn.  If it wasn\'t made how do you withdraw it?\r\n\r\nDraw your own conclusions, as I see it…\r\n\r\nWe now get closer to placing one’s testicles on the chopping board and nobody wants to be a born again soprano. The Iranians want to “pump baby pump” and raise the digit to its OPEC “friends!”. The Saudi in retaliation threaten to fill the worlds bathtubs with cheap oil, they would pump 36 hours a day if they could!!\r\n\r\nAnd there you have it - a collection of self-serving oil producers who are solely focused on themselves. They say one thing and do the opposite. Even if they said there was a freeze in production, who knows if they are telling the truth. They are as manipulative as the market players in that market. We can see that from basic economic supply and demand curves.\r\n\r\nThe obvious trades after the election are long USD/CAD, USD/NOK and dare I say it USD/MXN.\r\n\r\nU.S. NON FARM PAYROLLS:\r\n\r\nA non-event. It was completely over shadowed by the U.S. election news.  We just bounced around.\r\n\r\n<strong> </strong>\r\n\r\n<strong> </strong>\r\n<ol start=\"4\">\r\n 	<li><strong> LOOKING FORWARDS:</strong><strong> </strong></li>\r\n</ol>\r\n<strong>THIS WEEK’S FOREX and ECONOMIC NEWS – MY VIEWS:</strong><strong> </strong>\r\n\r\n<u>THIS WEEK’S FOREX NEWS THAT INTERESTS ME:</u>\r\n\r\n(There are many more news items related to the Forex Market other than the ones listed below. These are the ones that interest me. You can go to <a href=\"http://www.forexfactory.com\">www.forexfactory.com</a> and <a href=\"http://www.tradingeconomics.com\">www.tradingeconomics.com</a> for a more comprehensive lists of all news events that are Forex related).\r\n\r\nSUNDAY: N/A.\r\n\r\nMONDAY: CNY – Trade Balance.\r\n\r\nTUESDAY: USD – Presidential Election.\r\n\r\nWEDNESDAY: NZD – RBNZ Rate Statement and Press Conference.\r\n\r\nTHURSDAY: N/A.\r\n\r\nFRIDAY: CAD – BOC Governor Poloz speaks.\r\n\r\n<strong> </strong>\r\n\r\nThere is not an abundance of news items this week.\r\n\r\nThe big ones in my opinion that I will be very interested in are: -\r\n<ul>\r\n 	<li>U.S. Presidential Election.</li>\r\n 	<li>NZD – RBNZ Rate Statement and Press Conference.</li>\r\n</ul>\r\nWe must also bear in mind that the BREXIT will continue to offer volatility moving forward given the high court ruling on article 50.  I would not be surprised to see EUROZONE players getting involved in the media sound-bytes, plus we are now in the same month as the alleged proposed OPEC OIL production cut, this should also start to weigh in\r\n\r\n<u> </u>\r\n\r\n<u>FOREX TRADING IN GENERAL TERMS THIS WEEK:</u>\r\n\r\nIt’s all about the U.S. election. I would be keeping clear of the USD as much as possible until the results are in.\r\n\r\nThe thought process is that with a HILLARY victory the stock market would move up for a day or two and with the TRUMP collapse due to uncertainty. Basically unless you have core positions that you are trading and you have clearly set out your trading parameters the less RISK approach is to wait.\r\n\r\nI had looked at trading some cross rates in the run up to the election and this did not fair too well for me so I think the prudent approach all around it to wait.\r\n\r\nJust remember, it could be very difficult to get into trades when / if the markets are chopping around as results come in. You have to be really careful in any chop fest. If you recall it was extremely difficult to enter new trades during the BREXIT results. I see this being exactly the same.\r\n\r\nIt’s risky to get in ahead of the results and very risky as well when the results are coming in even if you could get into your account to trade.\r\n\r\nFor those of you who trade with FXCM good luck. They will freeze to protect themselves, not you the trader. They froze you out for over four hours on the EUR/CHF PEG removal and a little less as I understand it on BREXIT referendum. I would expect more of the same with them, why would they change?\r\n\r\nIf you are sidelined, you may not be able to access your account until the result is confirmed. Remember, margin levels have been increased or about to be increased by many brokers.\r\n\r\nBottom line just be careful. Very small position sizes if you have to participate.\r\n\r\n<u> </u>\r\n\r\n<u>THIS COMING WEEK - THE USD MAJORS (MY THOUGHTS): </u>\r\n\r\n(In this section I have as usual kept my charts as minimalist as possible. With regards to charting in my opinion less is more!! I hope that they are clear. All readers regardless of level of experience should be able to follow my thoughts from my comments to the levels on the charts with ease)\r\n\r\nMy comments are contained on the charts.\r\n\r\nEUR/USD - Weekly Closing Price: 1.1138\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/EURUSD-DAILY-05112016.png\"><img class=\"aligncenter size-large wp-image-8599\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/EURUSD-DAILY-05112016-1024x477.png\" alt=\"eurusd-daily-05112016\" width=\"1024\" height=\"477\" /></a>\r\n\r\nGBP/USD - Weekly Closing Price: 1.2515\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/GBPUSD-DAILY-05112016.png\"><img class=\"aligncenter size-large wp-image-8600\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/GBPUSD-DAILY-05112016-1024x477.png\" alt=\"gbpusd-daily-05112016\" width=\"1024\" height=\"477\" /></a>\r\n\r\nAUD/USD - Weekly Closing Price: 0.7670\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/AUDUSD-DAILY-05112016.png\"><img class=\"aligncenter size-large wp-image-8598\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/AUDUSD-DAILY-05112016-1024x477.png\" alt=\"audusd-daily-05112016\" width=\"1024\" height=\"477\" /></a>\r\n\r\nNZD/USD - Weekly Closing Price: 0.7323\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/NZDUSD-DAILY-05112016.png\"><img class=\"aligncenter size-large wp-image-8601\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/NZDUSD-DAILY-05112016-1024x477.png\" alt=\"nzdusd-daily-05112016\" width=\"1024\" height=\"477\" /></a>\r\n\r\nUSD/CAD - Weekly Closing Price: 1.3399\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/USDCAD-DAILY-05112016.png\"><img class=\"aligncenter size-large wp-image-8602\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/USDCAD-DAILY-05112016-1024x477.png\" alt=\"usdcad-daily-05112016\" width=\"1024\" height=\"477\" /></a>\r\n\r\nUSD/CHF - Weekly Closing Price: 0.9679\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/USDCHF-DAILY-05112016.png\"><img class=\"aligncenter size-large wp-image-8603\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/USDCHF-DAILY-05112016-1024x477.png\" alt=\"usdchf-daily-05112016\" width=\"1024\" height=\"477\" /></a>\r\n\r\nUSD/JPY - Weekly Closing Price: 103.09\r\n\r\n<u><a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/USDJPY-DAILY-05112016.png\"><img class=\"aligncenter size-large wp-image-8604\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/USDJPY-DAILY-05112016-1024x477.png\" alt=\"usdjpy-daily-05112016\" width=\"1024\" height=\"477\" /></a></u>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n<u>THIS COMING WEEK - THE NON-USD MAJORS PAIRS (MY THOUGHTS):</u>\r\n\r\nI tried trading some cross-rates last week with little success at all. The polls showing TRUMP catching up with HILLARY created havoc across the board.\r\n\r\nAs I have stated already the prudent approach is to wait until after the votes are counted and a winner is declared. Then it’s all about RISK ON or RISK OFF moving forward.\r\n\r\n<strong> </strong>\r\n<ol start=\"5\">\r\n 	<li><strong> PREMIUM SERVICE SUBSCRIBER EXCLUSIVE CONTENT AREA:</strong></li>\r\n</ol>\r\nTRADING REVIEW:\r\n\r\nI was too fast into some trades last week and paid the prices with a start to the week of a negative 300 pips.\r\n\r\nIt is a marathon not a 60 metre dash therefore I will take my time recovering this loss. Losses are a part of trading, I hate them as much as the next trader but it’s all about moving on and remaining positive.\r\n\r\nI now have more core trades in play.: -\r\n\r\nAUD/NZD: – this trade will spill over to 2017 and looking at the way the NZD is behaving right now it could be 2018 as well! My goals have not altered. We have a 61.8% retracement barrier of the last pullback at 1.0700. Basically, I took profits two weeks ago and have re-loaded on the retracement back to 1.0500.  We could fall as low as 1.0420 before bouncing.\r\n\r\nNZD/USD: – I am still bearish the Kiwi longer-term. My POSITION TRADEs for this pair are really small. I will hold through the election result but will probably bump up the stop loss levels to allow for any wild swings.\r\n\r\nCentral bank policy divergence is still a factor albeit not mentioned much in the past and this alone will bring the NZD lower over time.\r\n\r\nBREXIT: - I have my trades short cable in place. As I keep saying over and over, nothing has fundamentally changed. BREXIT is still happening; it is now just the pace of the exit which is being called into question. The more uncertainty the better as far as I am concerned. This helps short side trading. I still believe whilst below 1.2800 we are BEARISH. I also still believe that 1.2000 has a big arrow pointing to it on the walls inside most bank trading rooms. We certainly have to re-test the 1.2080 lows.\r\n\r\nThis is still a sell the rips trade.\r\n\r\n&nbsp;\r\n\r\nU.S. PRESIDENTIAL ELECTION – MY POSSIBLE TRADES:\r\n\r\nNot mentioned in the general blog, I now have my short GBP/CHF trade in play.\r\n\r\nAs mentioned earlier, the flight to safety with the CHF is on. The GBP/CHF is naturally under pressure at the moment with cable trading heavy. This creates a double whammy on the GBP/CHF.\r\n\r\nI know many people are looking at the USD/MXN as the TRUMP proxy trade and I understand why. My thoughts however are away from USD denominated pairs. I am tempted to set up a trade but I need to think hard about this one.\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n“ANTOINE’S” U.S. ELECTION ARMAGEDDON TRADES:\r\n\r\nI do not usually single out subscribers. However, the emails I received from Antoine, whilst incredibly funny about trading the U.S. election, Antoine made a valid point primarily aimed at the EUR/CHF and its reaction to the BREXIT vote and, it got me thinking.\r\n\r\nBasically as you know, I have core positions that I want to protect against illiquid spikes and dips. I will post any LIVE trade amendments to these on Monday.\r\n\r\nBelow is my ARMEGEDDON spreadsheet. These are based upon a trend resumption. I will probably NOT be trading these but these are levels that “Rips ‘n Dips” could be sold into or scooped up.\r\n\r\nIf I do jump in on these, you guys will be the first to know about it after my broker. Remember, this could all be a non-event as we may not have broker access due to volatility.\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/US-ELECTION-ARMAGEDDON-TRADES-.png\"><img class=\"aligncenter size-large wp-image-8596\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/US-ELECTION-ARMAGEDDON-TRADES--762x1024.png\" alt=\"us-election-armageddon-trades\" width=\"762\" height=\"1024\" /></a>\r\n\r\n&nbsp;\r\n\r\nIf you take any of these and make $$$ please let me know. If you lose $$$ please blame Antoine!! – just kidding, the buck always stops with me.\r\n\r\n&nbsp;\r\n\r\nADDITIONAL BROKER ACCOUNTS:\r\n\r\nAs we get nearer to the end of 2016, if any of you are considering adding an additional broker or two to keep PREMIUM SERVICE trades separate or maybe break down into TRADE STYLES, please note that the deals, offers etc. that brokers will be using to attract new clients will intensify.\r\n\r\nIf you are considering such a move please contact me so I can advise which of my brokers on my landing page are offering what.\r\n\r\nVANTAGE FX for example are charging nothing to deposit money into your broker account, whether the transfer in is by credit card or via bank transfer. My account manager David Bily is probably one of the best account managers that I have come across. VANTAGE FX also gives you an edge with 5PM eastern NZD news.\r\n\r\n&nbsp;\r\n\r\nPERISCOPE (UPDATE):\r\n\r\nMy replacement microphone from Amazon should be at the post office to collect, but it is NOT there yet. Well done Canada Post.\r\n\r\nPERISCOPE PROPOSAL - My proposal is initially to do a 30-minute presentation on a Monday afternoon my time about 2PM EST. I can be totally flexible with this time. If anyone wants to have a PERISCOPE session and this time is difficult please advise so I can review.\r\n\r\n<strong> </strong>\r\n\r\n<strong>TRADES REVIEW:</strong>\r\n\r\nThe excel spreadsheets below details current LIVE and pending LIMIT ORDER trades: -\r\n\r\n<u><a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/LIVE-TRADES-05112016.png\"><img class=\"aligncenter size-large wp-image-8595\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/LIVE-TRADES-05112016-787x1024.png\" alt=\"live-trades-05112016\" width=\"787\" height=\"1024\" /></a></u>\r\n\r\n<u> </u>\r\n\r\n<u><a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/LIMIT-ORDERS-05112016.png\"><img class=\"aligncenter size-large wp-image-8594\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/LIMIT-ORDERS-05112016-722x1024.png\" alt=\"limit-orders-05112016\" width=\"722\" height=\"1024\" /></a></u>\r\n<ol start=\"6\">\r\n 	<li><strong> MY CLOSING THOUGHTS:</strong></li>\r\n</ol>\r\nThe sword of Damocles hangs over the market at the moment. Basically we are on hold until we see if THE DONALD or HILLARY are pronounced victors.\r\n\r\nThe zero risk option is to be 100% flat with trades. I have a couple of core positions that I am trading at the moment, they are not full size and one core position does not involve the USD currency.\r\n\r\nI have a feeling that additional BREXIT fallout will be hitting the markets at the same time as the U.S. election results. The cynic in me says if you are going to release really big news do at the time of a major geopolitical event. We have news on the horizon relating to BREXIT, no better time than Tuesday night, better still market open Wednesday to do it.\r\n\r\nThe one thing I do see is a great deal of volatility.\r\n\r\nTherefore, if you want zero RISK; if you just want to sit back and observe I would say that Wednesday / Thursday next week would be the time to re-establish LIVE positions.\r\n\r\nIf you are going to trade, expect a chop fest. Do not get suckered into believing the market is moving strongly in one direction. It can and does change in an instant.\r\n\r\nAs usual…\r\n\r\nAlways remember longevity in Forex trading can only be achieved through trading with good RISK and MONEY MANAGEMENT, and above all set your position sizes in accordance with the size of your account and allow for some flexibility.\r\n\r\nTake care,\r\n\r\nScott Pickering\r\nThe Pip Accumulator\r\n<a href=\"http://weeklyfxdrivethru.com/disclaimer/\">http://weeklyfxdrivethru.com/disclaimer/</a>\r\n\r\nBLOG VERSION: #118 - PREMIUM SERVICE\r\nDATE: 5<sup>th</sup> November 2016.\r\n\r\n&nbsp;','BREXIT - “IT’S YOUR DECISION…” YEAH RIGHT!','','inherit','closed','closed','','8605-revision-v1','','','2016-11-05 16:18:01','2016-11-05 21:18:01','',8605,'http://weeklyfxdrivethru.com/8605-revision-v1/',0,'revision','',0),(8608,1,'2016-12-15 12:35:16','2016-12-15 17:35:16','<section class=\"one-sixth first\">\n<h4>Total Trades Profit Summaries Archives:</h4>\n</section><section class=\"five-sixths\">\n<div class=\"one-half first\">\n<h2>This Month\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/12/PREM-SERV-PROFITS1-2016-COMPLETE.png\"><img class=\"aligncenter size-large wp-image-8801\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/12/PREM-SERV-PROFITS1-2016-COMPLETE-984x1024.png\" alt=\"\" width=\"984\" height=\"1024\" /></a></h2>\n</div>\n<div class=\"one-half\">\n<h2>Year to date\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/12/PREM-SERV-PROFITS2-2016-COMPLETE.png\"><img class=\"aligncenter size-large wp-image-8802\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/12/PREM-SERV-PROFITS2-2016-COMPLETE-1024x980.png\" alt=\"\" width=\"1024\" height=\"980\" /></a></h2>\n&nbsp;\n<h2>PREVIOUS YEARS\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/12/PREM-SERVICE-COMPLETE-2015.png\"><img class=\"aligncenter size-large wp-image-8804\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/12/PREM-SERVICE-COMPLETE-2015-1024x1011.png\" alt=\"\" width=\"1024\" height=\"1011\" /></a>\n\n\n\n\n<a href=\"https://weeklyfxdrivethru.com/combined-trades-profit/ps-profits-2-2015-ciomplete/\" rel=\"attachment wp-att-6983\"><img class=\"aligncenter wp-image-6983\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/12/PS-PROFITS-2-2015-CIOMPLETE.png\" alt=\"PS PROFITS 2 2015 CIOMPLETE\" width=\"606\" height=\"662\" /></a>\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/12/PREM-SERV-PERF2-31122014.png\"><img class=\"aligncenter wp-image-4962\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/12/PREM-SERV-PERF2-31122014.png\" alt=\"PREM SERV PERF2 31122014\" width=\"660\" height=\"598\" /></a></h2>\n</div>\n</section>','Total Trades Profit Summaries - Monthly and Year to Date','','inherit','closed','closed','','5000-autosave-v1','','','2016-12-15 12:35:16','2016-12-15 17:35:16','',5000,'http://weeklyfxdrivethru.com/5000-autosave-v1/',0,'revision','',0),(8610,1,'2016-11-05 16:50:58','2016-11-05 21:50:58','<strong> </strong>\r\n<ol>\r\n 	<li><strong> INTRODUCTION:</strong></li>\r\n</ol>\r\nI was going to make the title of this week’s blog something relevant to the U.S. Presidential election.\r\n\r\nOn Friday last week, CNN posted a poll stating that 83% of eligible Americans who can vote were disgusted with the way the Presidential campaigns were run.\r\n\r\nSo to all American readers….\r\n\r\nPlease, get out there and…\r\n\r\n<strong>VOTE FOR YOUR LEAST HATED CANDIDATE</strong>\r\n\r\nand let’s get the news cycle changed, please I am begging you!!\r\n\r\nMoving on…\r\n\r\nLast week was a very busy week for news items.\r\n\r\nI made an elementary mistake early in the week that I paid the ultimate price for. Even though I was aware of the geopolitical events on the horizon coupled with a packed economic calendar, I went into long USD trades too early, although not too aggressively. I took some hits, which has set me back a little.\r\n\r\nI was also caught off my guard with the U.S. opinion polls, from which, I took my trades expecting a bounce in the DXY but the flight to safety surrounding the possible TRUMP election victory took me for 300 pips. I felt somewhat like a lamb to the slaughter. However, as I have written about several times in this blog it’s NOT about how you fall down, it’s more about how you get back up!\r\n\r\nLooking ahead…\r\n\r\nI am a huge believer in having a TRADE PLAN and then actually trying to TRADE YOUR PLAN. You will read in many places a phrase PLAN YOUR TRADES and TRADE YOUR PLAN. I believe 100% with this approach to Forex. When I go into big news items I will have my plan in mind, as I need to know what way I am going to play the news, if it is my intention to trade the news. On many occasions I stay sidelined. I have moved more and more to trading with a longer-term perspective and to be effective with this type of trading you have to be able for the most part to sit through news releases. There are from time to time exceptions but for the main part my trades are there longer term.\r\n\r\nThis was not how I approached trading Forex in 2015 and definitely not my approach in 2014. Why am I writing about this?\r\n\r\nBasically because I have just completed my October 2016 PREMIUM SERVICE performance, and updated all areas on my website whether open to all or the restricted areas open only to my PREMIUM SERVICE subscribers.\r\n\r\n2016 was a very different year and looking back on what I wrote in late December 2015 and early 2016 in my DRIVE THRU blogs the year has panned out almost 180 degrees away from what I expected.\r\n\r\nThe PREMIUM SERVICE performance has been fantastic (there’s nothing like self-praise) when I review the year so far.\r\n\r\nI am planning 2017 at the moment. I am looking at everything that I do with my business from the day to day to the macro level.\r\n\r\nFrom this week until the end of this year, Section 2 of the blog will be extended to show greater detail of the PREMIUM SERVICE returns. I am hoping that non-subscribers will find this additional information beneficial and convince them that they are missing out and subscribe.\r\n\r\nDo not forget…\r\n\r\nJust a quick reminder; each month, I am giving away a FREE PREMIUM SERVICE 4-week subscription. This gives the winner 100% access to the PREMIUM SERVICE website and ALL my PREMIUM SERVICE communications from my suggested trade set-ups to market commentaries and my thoughts.\r\n\r\nTo stand a chance of being the next subscription winner, you need to subscribe to receive this free blog via my website <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a><strong>  </strong>\r\n\r\nYou are automatically entered into a free monthly draw, once you’ve subscribed. Each month one lucky blog subscriber will receive a free subscription to the PREMIUM SERVICE.\r\n\r\n<strong> </strong>\r\n<ol start=\"2\">\r\n 	<li><strong> THE PREMIUM SERVICE:</strong></li>\r\n</ol>\r\n<u>WHAT IS THE PREMIUM SERVICE:</u>\r\n\r\nThe PREMIUM SERVICE is a subscriber, fee based trade set-up option for Forex traders regardless of experience or background. I provide traders suggested trades, and some market commentary related to open trades or factors within the overall market that have my interest.\r\n\r\nFull details of the PREMIUM SERVICE and the various trade styles plus how suggested trade set-ups are communicated can be found on my website landing page at <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a> by selecting THE PREMIUM SERVICE tab.\r\n\r\nAdditional information can be found by clicking TESTIMONIALS, PART-TIME TRADERS and FX PROMOTIONS tabs. To subscribe to THE PREMIUM SERVICE you will require a credit card.\r\n<p style=\"text-align: center;\"><u>PREMIUM SERVICE SUBSCRIPTION COSTS:</u></p>\r\n<p style=\"text-align: center;\">Details of features and benefits of a PREMIUM SERVICE subscription can be found on my website landing page at <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a> under the dropdown tab at the top of the page entitled HISTORY &amp; PERFORMANCE OF THE PREMIUM SERVICE. To subscribe follow the SUBSCRIBE HERE tab.</p>\r\n<p style=\"text-align: center;\">PREMIUM SERVICE subscription costs are as follows: -</p>\r\n<p style=\"text-align: center;\">CAD$240.00 - 4 weeks (1 month)\r\nCAD$500.00 - 10 weeks (3 months)\r\nCAD$750.00 - 20 weeks (6 months)\r\nCAD$1,250.00 - 40 weeks (12 months)\r\n<u>PLUS</u>: Existing PLATINUM MEMBERS (annual subscribers) can re-subscribe for a further 12 months for CAD$1,000.00</p>\r\n<p style=\"text-align: center;\">I work for about 40 weeks a year. Subscriptions are based on 40 published blogs of the WEEKLY FX DRIVE THRU per year. For the remaining 10 weeks, I am around tweeting, posting and managing existing LIVE trades, although my market activity is reduced.</p>\r\n<p style=\"text-align: center;\"><u>PREMIUM SERVICE PERFORMANCE:</u></p>\r\n<p style=\"text-align: center;\">PRESENT AND HISTORICAL QUICK PREMIUM SERVICE STATS:\r\nOCTOBER 2016\r\nNET PIPS OCTOBER:        +2,633 pips\r\nNET PIPS 2016 END OF OCTOBER:      +11,618 pips</p>\r\n<p style=\"text-align: center;\">THIS MONTH SO FAR TO 05.11.2016: -194 pips\r\nYEAR TO DATE TOTAL: +11,424 pips</p>\r\n<p style=\"text-align: center;\">NET PIPS 2015:       +10,686 pips\r\nNET PIPS 2014:       +11,209 pips</p>\r\nBelow, for additional information on the past and current trading I include excel spreadsheets detailing the overviews of the PREMIUM SERVICE performance.\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/PREM-SERV-NET-PROFITS-2016.png\"><img class=\"aligncenter size-large wp-image-8597\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/PREM-SERV-NET-PROFITS-2016-925x1024.png\" alt=\"prem-serv-net-profits-2016\" width=\"925\" height=\"1024\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/PREM-SERV-NET-PROFITS-2015.png\"><img class=\"aligncenter size-full wp-image-8588\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/PREM-SERV-NET-PROFITS-2015.png\" alt=\"prem-serv-net-profits-2015\" width=\"1010\" height=\"872\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/PREM-SERV-NET-PROFITS-2014.png\"><img class=\"aligncenter size-full wp-image-8587\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/PREM-SERV-NET-PROFITS-2014.png\" alt=\"prem-serv-net-profits-2014\" width=\"1012\" height=\"838\" /></a>\r\n\r\n&nbsp;\r\n\r\nPART-TIME TRADER (POSITION) TRADES:\r\n\r\nAt the end of 2015, having listened to many of my subscribers and from a market survey that I undertook, I wanted to try and address those Forex traders who would consider themselves to be a PART-TIME trader for whatever reason.\r\n\r\nPART-TIME FOREX TRADERS fall between a rock and a hard place.  It is very, very difficult with limited access to computers due to full-time employment or limited access to a computer due time constraints, to have a voice when trading.\r\n\r\nNow more than ever you really need to be 24 x 5 with your devices to keep on top of things.\r\n\r\nI wanted to try and find a trading solution for PART-TIME TRADERS.\r\n\r\nLet me be the first to say, my solution is not 100% perfect. You can put lipstick on a pig but it’s still a pig, if you understand me. This is not an easy fix. But I wanted to try, and to be honest, timing in Forex is everything.\r\n\r\nMy initial solution, and it is on-going, has been my savior to my trading performance this year so far, with just 6/7 weeks left to go.\r\n\r\nI introduced PART-TIME TRADER TRADES now called POSITION TRADES at the start of 2016. This trading style is based upon my FUNDAMENTAL longer-term market views. These trades are LIMIT ORDER entry trades with very wide stops based on ATR (Average True Range) limits, mostly weekly limits, but sometimes monthly limits, using Fibonacci levels and trend lines to set stops and limits.\r\n\r\nThey have been, due to the way that the Forex market has been held to ransom inside tight trading ranges for most of the year, creating very choppy market conditions very successful.\r\n\r\nI am NOT saying that these trades and the way I trade them because I still have to assess trades all the time and close off trades early etc.… are the “B all and end all” holy grail for PART-TIME TRADERS but they are a step in the right direction.\r\n\r\nThese trades also suit FULL-TIME traders who want to take a longer-term perspective.\r\n\r\nHow successful have they been?\r\n\r\nHow do I measure their success?\r\n\r\nVery simply, when launching these trades, a year ago I created a page on my website landing page at <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a> called PART TIME FOREX TRADERS it is part of my drop down menu at the top of my landing page.\r\n\r\nI tried my best to define my target audience and I posted a cash flow projection, it is still there today and I have subsequently added quarterly reviews during the year.\r\n\r\nBelow is the initial cash flow projection that was posted the first week of January 2016.\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/POS-TRADES-CASHFLOW-JAN16.png\"><img class=\"aligncenter size-large wp-image-8590\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/POS-TRADES-CASHFLOW-JAN16-808x1024.png\" alt=\"pos-trades-cashflow-jan16\" width=\"808\" height=\"1024\" /></a>\r\n\r\nI am not going to spend a great deal of time on this. Basically for the purpose of this section of the DRIVE THRU blog will focus solely on MINI LOT traders.\r\n\r\nMy suggestion on day 1, was to open a broker account with USD$7,500. At the end of the year based only on single lot trades after costs to trade and my PREMIUM SERVICE annual subscription my goal was to grow the broker account from USD$7,500 to $15,052.50 by the end of 2016.\r\n\r\n<strong><u>That would be to double your initial investment after ALL costs were accounted for.</u></strong>\r\n\r\nHow have I faired with this quest?\r\n\r\nBelow is the spreadsheet update post I made to my website on the 31<sup>st</sup> March 2016. Three months after the launch.\r\n\r\n<strong> <a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/POS-TRADES-CASHFLOW-MARCH16.png\"><img class=\"aligncenter size-large wp-image-8591\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/POS-TRADES-CASHFLOW-MARCH16-1024x864.png\" alt=\"pos-trades-cashflow-march16\" width=\"1024\" height=\"864\" /></a><a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/POS-TRADES-CASHFLOW-MARCH16.png\">\r\n</a></strong>\r\n\r\nAs you can see the initial USD$7.500.00 now stood at USD$9,655.00 after ALL costs were accounted for.\r\n\r\nBelow is the spreadsheet update added to my drop down menu and posted on July 11<sup>th</sup> 2016.\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/POS-TRADES-CASHFLOW-JUNE16.png\"><img class=\"aligncenter size-large wp-image-8592\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/POS-TRADES-CASHFLOW-JUNE16-1024x806.png\" alt=\"pos-trades-cashflow-june16\" width=\"1024\" height=\"806\" /></a>\r\n\r\nAs you can now further profits were added and the position at the end of June was USD$11,723.00. Again this is the net position after all costs have been taken into consideration.\r\n\r\nBelow is the update posted on 31<sup>st</sup> October 2016.\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/POS-TRADES-CASHFLOW-OCT16.png\"><img class=\"aligncenter size-large wp-image-8593\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/POS-TRADES-CASHFLOW-OCT16-1024x792.png\" alt=\"pos-trades-cashflow-oct16\" width=\"1024\" height=\"792\" /></a>\r\n\r\n&nbsp;\r\n\r\nAt the end of last month, the cumulative position now shows that the original account with USD$7,500 now stands at net USD$13,868.00.\r\n\r\nThere is just under USD$1,200 in income left to achieve (1,200 pips over the months of November and December). It is a tall order.\r\n\r\nThere are more comments regarding the performance on my website under THE PART TIME TRADERS drop down menu.\r\n\r\nWhat about my macro thoughts on the performance of the POSITION TRADES?\r\n\r\nMy thoughts are very straightforward: -\r\n<ol>\r\n 	<li>This (2016) has been an extremely difficult year to trade in.</li>\r\n 	<li>My approach to trading this year has been almost a 180 degree turn on 2015 trading.</li>\r\n 	<li>Features and factors that prompted me to start this trading style, namely central bank diversification never became as big of an issue as I thought it would have been. I had to re-focus and adapt the POSITION trade set ups to compensate for this.</li>\r\n 	<li>This review of style, manifested itself in the facts that my projection was for just 90 trades in the year. So far I have completed 146 trades (more than 50% more than anticipated). My profits per trade are less and my losses per trade are well under projection.</li>\r\n 	<li>I am, given the above points 1-4, delighted to have achieved this performance so far.</li>\r\n 	<li>Have I delivered what I set out for PART-TIME traders? Not 100%. I have delivered profits but the timings for closing of trades is still an issue. I cannot let losses grow or profits diminish due to a trading style. I have to 100% trade the price action in the market as I see it.</li>\r\n 	<li>What about 2017?I will continue this trading style next year, but I will review my other trading styles. It is impossible to predict what type of a trading year 2017 will be, apart from the fact it contains 365 days and that there will always be a forex market every day the market is open.</li>\r\n</ol>\r\nIf you would like additional supporting data or detail about the performance and the tabs on my website landing page at <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a> do not answer your questions, contact me directly and I will supply the trading data you require. There are NO secrets. There are many, many spreadsheets detailing performance trade by trade and by trade and by trading style, way too many to place in this blog. If you are interested in the PREMIUM SERVICE and want more information, all you have to do is ask.\r\n\r\n<strong> </strong>\r\n<ol start=\"3\">\r\n 	<li><strong> LOOKING BACKWARDS: THE FX MARKET PLACE</strong></li>\r\n</ol>\r\n<strong>LAST WEEK’S FOREX and ECONOMIC NEWS – MY VIEWS:</strong>\r\n\r\nUK BREXIT HIGH COURT RULING &amp; BOE INFLATION REPORT:\r\n\r\nHoly crap.\r\n\r\nI totally get the high court’s reasoning behind parliament needing an agreement to trigger article 50. However, one would have thought given the fact that all along David Cameron (ex. UK Prime Minister) and Theresa May (current Prime Minister) have both stated that it was in the UK governments power alone to trigger article 50, that the legal “johnnies” would have given Cameron a legal opinion on this matter prior to the voting slips being printed?\r\n\r\nOr did Cameron enter the referendum believing all was well in blighty… well it may have been in central London and no legal opinion was sought, did he believe that it was a slam dunk REMAIN victory?\r\n\r\nWhat emanates out of this court ruling is yet more uncertainty. The appeal against this decision will be heard the first week of December and ruled upon then.\r\n\r\nI would love an audience with Cameron and May to ask them a few questions about this process.\r\n\r\nThe referendum voting slip said: -\r\n\r\n<strong>“This is your decision. The Government will implement what you decide”</strong>\r\n\r\nThe Supreme court could go either way on the high court ruling.\r\n\r\nAt the end of the day, let’s say Parliament has to vote. MP’s in fear of not being elected next time around, would be one brick from a full load if they did NOT vote in line with their constituents wishes from the BREXIT vote last June. If it’s just a vote, this is politics, the MP’s will vote in line with the people who elected them to represent their wishes.\r\n\r\nIn my opinion, it all depends on the wording of the paper put before the MP’s to vote on. It will end up being so vague to ensure an agreement between the House of Commons and the popular vote last June.\r\n\r\nThen we move on…. here’s a thought!\r\n\r\nTheresa May might call a snap general election, to firm up her mandate over the BREXIT negotiations and timings. Elections in the UK are usually held in Spring or Autumn. Dissolving Parliament takes 25-30 days, could she hold an election in March 2017? Yes; she could; and rule nothing out about having an election in March 2017, with the mandate to trigger Article 50 by the end of the month.\r\n\r\nMy fear about all of this is that if parliament gets too much debating time over BREXIT negotiations, this weakens the UK exit negotiating team’s abilities in the negotiating process. All this stuff about HARD BREXIT or SOFT BREXIT is all bollo**s in my opinion, you are either in or out, the process may be straightforward but both sides want the best deal for them for basic and very obvious reasons.\r\n<ul>\r\n 	<li>EUROPEAN UNION – does not want the UK to cherry pick, because this will cause a CONTAGION effect.</li>\r\n 	<li>UK – wants border controls and the London Financial hub to remain as is.</li>\r\n</ul>\r\nHaving a huge debate in Parliament is like (from the wild west days) “Selling guns to the Indians”. All the UK lines in the sand will be out there in the media and in front of the European union negotiating teams. This is going to result in the UK being on the back foot during negotiating and elevates the position of the European Union negotiating team.\r\n\r\nWe are as traders guaranteed more uncertainty and frankly I am still of the opinion to sell the rips in cable, my views on this have not changed. So, with BREXIT being the decision of the people…my arse it was….so far what was a clear vote has caused nothing but uncertainties\r\n\r\nMoving on….\r\n\r\nAt his latest Press Conference, this time the BOE Inflation Report, Carney did the usual, now customary, re-jigging of growth numbers that take place at practically every Central Bank press conference, regardless of location in the world. However, Carney was projecting upwards revisions rather than downwards. I had a nose bleed when I saw the numbers.\r\n\r\nDespite all the gloom and doom from the “REMAIN” campaigners the UK economy so far has been extremely resilient. Carney moved revised upwards the GBP projections from this quarter through to 2018. Although let’s be clear higher CPi numbers comes from, in the main, the weaker currency moves in sterling.\r\n\r\nThe two events combined created a nice spike, to sell into in my opinion. Nothing has FUNDAMENTALLY changed when you look at all things. The big issue that Carney has to consider moving forward is that with regards to inward investment into the UK. He has to strike a balance between inflation potentials and interest rates to ensure that investment continues to come through.\r\n\r\nThose pundits / analysts calling for rate hikes next year are a little premature in my opinion. There is a lot of water due to flow under the bridge before the subject of interest rate hikes should be contemplated never mind discussed.\r\n\r\nFOMC STATEMENT:\r\n\r\nA non-event. I would however point out that there was a line in the statement that called for more improvement in data. The UBER DOVE… Janet Yellen may use this as a way to hold off further on increasing rates.\r\n\r\nI have written several times stating that it is so easy to be DOVE and much harder to be a HAWK.\r\n\r\nI believe that Janet Yellen has displayed so much hesitancy in her time a FED chair, that she is a ditherer. God only knows what will happen in December if the lost awaited heavily anticipated and predicted interest rate hike does not happen.\r\n\r\n&nbsp;\r\n\r\nTHE U.S. PRESIDENTIAL ELECTION:\r\n\r\nI eluded to this earlier in the blog. THE TRUMP effect is in play. The USD/MXN is the TRUMP TRADE. If you believe that TRUMP will be elected president, go long this pair. If you believe it will be HILLARY send her an email with the heading CLASSIFIED and go short the USD/MXN.\r\n\r\nAs numerous polls are released the USD/MXN reacts based upon who is out in front. The USD/MXN is up and down more time than a pair of prostitute’s knickers.\r\n\r\nNot only is the USD/MXN directly affected with wild swings it all spills over the DXY and a flight to safety trade with both the JPY and CHF. I am certain that Thomas Jordan at the SNB is not a happy puppy about all of this volatile price action.\r\n\r\nLess than a week to go. Then we can trade on reality…whatever form that will be!!\r\n\r\n&nbsp;\r\n\r\nOPEC – PRODUCTION CUTS:\r\n\r\nAs I have written over and over. There is an oil glut. There is a massive miss between supply and demand.\r\n\r\nFrankly oil has had its day. The self-serving countries that formed the cartel OPEC have never agreed on a damn thing from day one unless oil prices have been rising. To have a production cut or freeze frankly in an environment where this cannot be checked is a joke.\r\n\r\nOPEC released a glibly worded agreement (verbally) to have the I’s dotted and t’s crossed at the end of November 2016. They had to do something after the Algiers meeting. In my opinion had they done nothing, the price of oil was once doomed to move lower to $30.00. They bought themselves some time, which appears to have backfired. They gave the waiting press a bulls*t statement, which, of course, the markets bought and oil rallied through $50.00, which, it could not sustain.\r\n\r\nA statement from the Saudis in response to an Iranian release that they would not freeze output was announced, basically it was along the lines of “If you don\'t freeze we will pump like feck… it was allegedly not made and was withdrawn.  If it wasn\'t made how do you withdraw it?\r\n\r\nDraw your own conclusions, as I see it…\r\n\r\nWe now get closer to placing one’s testicles on the chopping board and nobody wants to be a born again soprano. The Iranians want to “pump baby pump” and raise the digit to its OPEC “friends!”. The Saudi in retaliation threaten to fill the worlds bathtubs with cheap oil, they would pump 36 hours a day if they could!!\r\n\r\nAnd there you have it - a collection of self-serving oil producers who are solely focused on themselves. They say one thing and do the opposite. Even if they said there was a freeze in production, who knows if they are telling the truth. They are as manipulative as the market players in that market. We can see that from basic economic supply and demand curves.\r\n\r\nThe obvious trades after the election are long USD/CAD, USD/NOK and dare I say it USD/MXN.\r\n\r\n&nbsp;\r\n\r\nU.S. NON FARM PAYROLLS:\r\n\r\nA non-event. It was completely over shadowed by the U.S. election news.  We just bounced around.\r\n\r\n<strong> </strong>\r\n<ol start=\"4\">\r\n 	<li><strong> LOOKING FORWARDS:</strong><strong> </strong></li>\r\n</ol>\r\n<strong>THIS WEEK’S FOREX and ECONOMIC NEWS – MY VIEWS:</strong><strong> </strong>\r\n\r\n<u>THIS WEEK’S FOREX NEWS THAT INTERESTS ME:</u>\r\n\r\n(There are many more news items related to the Forex Market other than the ones listed below. These are the ones that interest me. You can go to <a href=\"http://www.forexfactory.com\">www.forexfactory.com</a> and <a href=\"http://www.tradingeconomics.com\">www.tradingeconomics.com</a> for a more comprehensive lists of all news events that are Forex related).\r\n\r\nSUNDAY: N/A.\r\n\r\nMONDAY: CNY – Trade Balance.\r\n\r\nTUESDAY: USD – Presidential Election.\r\n\r\nWEDNESDAY: NZD – RBNZ Rate Statement and Press Conference.\r\n\r\nTHURSDAY: N/A.\r\n\r\nFRIDAY: CAD – BOC Governor Poloz speaks.\r\n\r\n&nbsp;\r\n\r\nThere is not an abundance of news items this week.\r\n\r\nThe big ones in my opinion that I will be very interested in are: -\r\n<ul>\r\n 	<li>U.S. Presidential Election.</li>\r\n 	<li>NZD – RBNZ Rate Statement and Press Conference.</li>\r\n</ul>\r\nWe must also bear in mind that the BREXIT will continue to offer volatility moving forward given the high court ruling on article 50.  I would not be surprised to see EUROZONE players getting involved in the media sound-bytes, plus we are now in the same month as the alleged proposed OPEC OIL production cut, this should also start to weigh in.\r\n\r\n<u> </u>\r\n\r\n<u>FOREX TRADING IN GENERAL TERMS THIS WEEK:</u>\r\n\r\nIt’s all about the U.S. election. I would be keeping clear of the USD as much as possible until the results are in.\r\n\r\nThe thought process is that with a HILLARY victory the stock market would move up for a day or two and with the TRUMP collapse due to uncertainty. Basically unless you have core positions that you are trading and you have clearly set out your trading parameters the less RISK approach is to wait.\r\n\r\nI had looked at trading some cross rates in the run up to the election and this did not fair too well for me so I think the prudent approach all around it to wait.\r\n\r\nJust remember, it could be very difficult to get into trades when / if the markets are chopping around as results come in. You have to be really careful in any chop fest. If you recall it was extremely difficult to enter new trades during the BREXIT results. I see this being exactly the same.\r\n\r\nIt’s risky to get in ahead of the results and very risky as well when the results are coming in even if you could get into your account to trade.\r\n\r\nFor those of you who trade with FXCM good luck. They will freeze to protect themselves, not you the trader. They froze you out for over four hours on the EUR/CHF PEG removal and a little less as I understand it on BREXIT referendum. I would expect more of the same with them, why would they change?If you are sidelined, you may not be able to access your account until the result is confirmed. Remember, margin levels have been increased or about to be increased by many brokers.\r\n\r\nBottom line just be careful. Very small position sizes if you have to participate.\r\n\r\n<u> </u>\r\n\r\n<u>THIS COMING WEEK - THE USD MAJORS (MY THOUGHTS): </u>\r\n\r\n(In this section I have as usual kept my charts as minimalist as possible. With regards to charting in my opinion less is more!! I hope that they are clear. All readers regardless of level of experience should be able to follow my thoughts from my comments to the levels on the charts with ease)\r\n\r\nMy comments are contained on the charts.\r\n\r\nEUR/USD - Weekly Closing Price: 1.1138\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/EURUSD-DAILY-05112016.png\"><img class=\"aligncenter size-large wp-image-8599\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/EURUSD-DAILY-05112016-1024x477.png\" alt=\"eurusd-daily-05112016\" width=\"1024\" height=\"477\" /></a>\r\n\r\nGBP/USD - Weekly Closing Price: 1.2515\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/GBPUSD-DAILY-05112016.png\"><img class=\"aligncenter size-large wp-image-8600\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/GBPUSD-DAILY-05112016-1024x477.png\" alt=\"gbpusd-daily-05112016\" width=\"1024\" height=\"477\" /></a>\r\n\r\nAUD/USD - Weekly Closing Price: 0.7670\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/AUDUSD-DAILY-05112016.png\"><img class=\"aligncenter size-large wp-image-8598\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/AUDUSD-DAILY-05112016-1024x477.png\" alt=\"audusd-daily-05112016\" width=\"1024\" height=\"477\" /></a>\r\n\r\nNZD/USD - Weekly Closing Price: 0.7323\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/NZDUSD-DAILY-05112016.png\"><img class=\"aligncenter size-large wp-image-8601\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/NZDUSD-DAILY-05112016-1024x477.png\" alt=\"nzdusd-daily-05112016\" width=\"1024\" height=\"477\" /></a>\r\n\r\nUSD/CAD - Weekly Closing Price: 1.3399\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/USDCAD-DAILY-05112016.png\"><img class=\"aligncenter size-large wp-image-8602\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/USDCAD-DAILY-05112016-1024x477.png\" alt=\"usdcad-daily-05112016\" width=\"1024\" height=\"477\" /></a>\r\n\r\nUSD/CHF - Weekly Closing Price: 0.9679\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/USDCHF-DAILY-05112016.png\"><img class=\"aligncenter size-large wp-image-8603\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/USDCHF-DAILY-05112016-1024x477.png\" alt=\"usdchf-daily-05112016\" width=\"1024\" height=\"477\" /></a>\r\n\r\nUSD/JPY - Weekly Closing Price: 103.09\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/USDJPY-DAILY-05112016.png\"><img class=\"aligncenter size-large wp-image-8604\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/USDJPY-DAILY-05112016-1024x477.png\" alt=\"usdjpy-daily-05112016\" width=\"1024\" height=\"477\" /></a>\r\n\r\n<u> </u>\r\n\r\n<u>THIS COMING WEEK - THE NON-USD MAJORS PAIRS (MY THOUGHTS):</u>\r\n\r\nI tried trading some cross-rates last week with little success at all. The polls showing TRUMP catching up with HILLARY created havoc across the board.\r\n\r\nAs I have stated already the prudent approach is to wait until after the votes are counted and a winner is declared. Then it’s all about RISK ON or RISK OFF moving forward.\r\n\r\n<strong> </strong><strong> </strong>\r\n<ol start=\"5\">\r\n 	<li><strong> PREMIUM SERVICE SUBSCRIBER EXCLUSIVE CONTENT AREA:</strong></li>\r\n</ol>\r\n<ol start=\"6\">\r\n 	<li><strong> MY CLOSING THOUGHTS:</strong></li>\r\n</ol>\r\nThe sword of Damocles hangs over the market at the moment. Basically we are on hold until we see if THE DONALD or HILLARY are pronounced victors.\r\n\r\nThe zero risk option is to be 100% flat with trades. I have a couple of core positions that I am trading at the moment, they are not full size and one core position does not involve the USD currency.\r\n\r\nI have a feeling that additional BREXIT fallout will be hitting the markets at the same time as the U.S. election results. The cynic in me says if you are going to release really big news do at the time of a major geopolitical event. We have news on the horizon relating to BREXIT, no better time than Tuesday night, better still market open Wednesday to do it.\r\n\r\nThe one thing I do see is a great deal of volatility.\r\n\r\nTherefore, if you want zero RISK; if you just want to sit back and observe I would say that Wednesday / Thursday next week would be the time to re-establish LIVE positions.\r\n\r\nIf you are going to trade, expect a chop fest. Do not get suckered into believing the market is moving strongly in one direction. It can and does change in an instant.\r\n\r\nAs usual…\r\n\r\nAlways remember longevity in Forex trading can only be achieved through trading with good RISK and MONEY MANAGEMENT, and above all set your position sizes in accordance with the size of your account and allow for some flexibility.\r\n\r\nTake care,\r\n\r\nScott Pickering\r\nThe Pip Accumulator\r\n<a href=\"http://weeklyfxdrivethru.com/disclaimer/\">http://weeklyfxdrivethru.com/disclaimer/</a>\r\n\r\nBLOG VERSION: #221 FREE NEWSLETTER\r\nDATE: 5<sup>th</sup> November 2016.','BREXIT - “IT’S YOUR DECISION…” YEAH RIGHT','','publish','open','closed','','brexit-decision-yeah-right','','','2016-11-05 16:50:58','2016-11-05 21:50:58','',0,'http://weeklyfxdrivethru.com/?p=8610',0,'post','',0),(8651,1,'2016-11-18 16:54:30','2016-11-18 21:54:30','','prem-serv-profits1-19112016','','inherit','open','closed','','prem-serv-profits1-19112016','','','2016-11-19 16:14:50','2016-11-19 21:14:50','',5000,'http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/PREM-SERV-PROFITS1-19112016.png',0,'attachment','image/png',0),(8612,1,'2016-11-05 16:37:12','2016-11-05 21:37:12','<strong> </strong>\r\n<ol>\r\n 	<li><strong> INTRODUCTION:</strong></li>\r\n</ol>\r\nI was going to make the title of this week’s blog something relevant to the U.S. Presidential election.\r\n\r\nOn Friday last week, CNN posted a poll stating that 83% of eligible Americans who can vote were disgusted with the way the Presidential campaigns were run.\r\n\r\nSo to all American readers….\r\n\r\nPlease, get out there and…\r\n\r\n<strong>VOTE FOR YOUR LEAST HATED CANDIDATE</strong>\r\n\r\nand let’s get the news cycle changed, please I am begging you!!\r\n\r\nMoving on…\r\n\r\nLast week was a very busy week for news items.\r\n\r\nI made an elementary mistake early in the week that I paid the ultimate price for. Even though I was aware of the geopolitical events on the horizon coupled with a packed economic calendar, I went into long USD trades too early, although not too aggressively. I took some hits, which has set me back a little.\r\n\r\nI was also caught off my guard with the U.S. opinion polls, from which, I took my trades expecting a bounce in the DXY but the flight to safety surrounding the possible TRUMP election victory took me for 300 pips. I felt somewhat like a lamb to the slaughter. However, as I have written about several times in this blog it’s NOT about how you fall down, it’s more about how you get back up!\r\n\r\nLooking ahead…\r\n\r\nI am a huge believer in having a TRADE PLAN and then actually trying to TRADE YOUR PLAN. You will read in many places a phrase PLAN YOUR TRADES and TRADE YOUR PLAN. I believe 100% with this approach to Forex. When I go into big news items I will have my plan in mind, as I need to know what way I am going to play the news, if it is my intention to trade the news. On many occasions I stay sidelined. I have moved more and more to trading with a longer-term perspective and to be effective with this type of trading you have to be able for the most part to sit through news releases. There are from time to time exceptions but for the main part my trades are there longer term.\r\n\r\nThis was not how I approached trading Forex in 2015 and definitely not my approach in 2014. Why am I writing about this?\r\n\r\nBasically because I have just completed my October 2016 PREMIUM SERVICE performance, and updated all areas on my website whether open to all or the restricted areas open only to my PREMIUM SERVICE subscribers.\r\n\r\n2016 was a very different year and looking back on what I wrote in late December 2015 and early 2016 in my DRIVE THRU blogs the year has panned out almost 180 degrees away from what I expected.\r\n\r\nThe PREMIUM SERVICE performance has been fantastic (there’s nothing like self-praise) when I review the year so far.\r\n\r\nI am planning 2017 at the moment. I am looking at everything that I do with my business from the day to day to the macro level.\r\n\r\nFrom this week until the end of this year, Section 2 of the blog will be extended to show greater detail of the PREMIUM SERVICE returns. I am hoping that non-subscribers will find this additional information beneficial and convince them that they are missing out and subscribe.\r\n\r\nDo not forget…\r\n\r\nJust a quick reminder; each month, I am giving away a FREE PREMIUM SERVICE 4-week subscription. This gives the winner 100% access to the PREMIUM SERVICE website and ALL my PREMIUM SERVICE communications from my suggested trade set-ups to market commentaries and my thoughts.\r\n\r\nTo stand a chance of being the next subscription winner, you need to subscribe to receive this free blog via my website <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a><strong>  </strong>\r\n\r\nYou are automatically entered into a free monthly draw, once you’ve subscribed. Each month one lucky blog subscriber will receive a free subscription to the PREMIUM SERVICE.\r\n\r\n<strong> </strong>\r\n<ol start=\"2\">\r\n 	<li><strong> THE PREMIUM SERVICE:</strong></li>\r\n</ol>\r\n<u>WHAT IS THE PREMIUM SERVICE:</u>\r\n\r\nThe PREMIUM SERVICE is a subscriber, fee based trade set-up option for Forex traders regardless of experience or background. I provide traders suggested trades, and some market commentary related to open trades or factors within the overall market that have my interest.\r\n\r\nFull details of the PREMIUM SERVICE and the various trade styles plus how suggested trade set-ups are communicated can be found on my website landing page at <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a> by selecting THE PREMIUM SERVICE tab.\r\n\r\nAdditional information can be found by clicking TESTIMONIALS, PART-TIME TRADERS and FX PROMOTIONS tabs. To subscribe to THE PREMIUM SERVICE you will require a credit card.\r\n<p style=\"text-align: center;\"><u>PREMIUM SERVICE SUBSCRIPTION COSTS:</u></p>\r\n<p style=\"text-align: center;\">Details of features and benefits of a PREMIUM SERVICE subscription can be found on my website landing page at <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a> under the dropdown tab at the top of the page entitled HISTORY &amp; PERFORMANCE OF THE PREMIUM SERVICE. To subscribe follow the SUBSCRIBE HERE tab.</p>\r\n<p style=\"text-align: center;\">PREMIUM SERVICE subscription costs are as follows: -</p>\r\n<p style=\"text-align: center;\">CAD$240.00 - 4 weeks (1 month)\r\nCAD$500.00 - 10 weeks (3 months)\r\nCAD$750.00 - 20 weeks (6 months)\r\nCAD$1,250.00 - 40 weeks (12 months)\r\n<u>PLUS</u>: Existing PLATINUM MEMBERS (annual subscribers) can re-subscribe for a further 12 months for CAD$1,000.00</p>\r\n<p style=\"text-align: center;\">I work for about 40 weeks a year. Subscriptions are based on 40 published blogs of the WEEKLY FX DRIVE THRU per year. For the remaining 10 weeks, I am around tweeting, posting and managing existing LIVE trades, although my market activity is reduced.</p>\r\n<p style=\"text-align: center;\"><u>PREMIUM SERVICE PERFORMANCE:</u></p>\r\n<p style=\"text-align: center;\">PRESENT AND HISTORICAL QUICK PREMIUM SERVICE STATS:\r\nOCTOBER 2016\r\nNET PIPS OCTOBER:        +2,633 pips\r\nNET PIPS 2016 END OF OCTOBER:      +11,618 pips</p>\r\n<p style=\"text-align: center;\">THIS MONTH SO FAR TO 05.11.2016: -194 pips\r\nYEAR TO DATE TOTAL: +11,424 pips</p>\r\n<p style=\"text-align: center;\">NET PIPS 2015:       +10,686 pips\r\nNET PIPS 2014:       +11,209 pips</p>\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\nBelow, for additional information on the past and current trading I include excel spreadsheets detailing the overviews of the PREMIUM SERVICE performance.\r\n\r\n&nbsp;\r\n\r\n(INSERT - 2014 PREMIUM SERVICE NET RETURN)\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n(INSERT - 2015 PREMIUM SERVICE NET RETURN)\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n(INSERT - 2016 PREMIUM SERVICE NET RETURN)\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\nPART-TIME TRADER (POSITION) TRADES:\r\n\r\n&nbsp;\r\n\r\nAt the end of 2015, having listened to many of my subscribers and from a market survey that I undertook, I wanted to try and address those Forex traders who would consider themselves to be a PART-TIME trader for whatever reason.\r\n\r\n&nbsp;\r\n\r\nPART-TIME FOREX TRADERS fall between a rock and a hard place.  It is very, very difficult with limited access to computers due to full-time employment or limited access to a computer due time constraints, to have a voice when trading.\r\n\r\n&nbsp;\r\n\r\nNow more than ever you really need to be 24 x 5 with your devices to keep on top of things.\r\n\r\n&nbsp;\r\n\r\nI wanted to try and find a trading solution for PART-TIME TRADERS.\r\n\r\n&nbsp;\r\n\r\nLet me be the first to say, my solution is not 100% perfect. You can put lipstick on a pig but it’s still a pig, if you understand me. This is not an easy fix. But I wanted to try, and to be honest, timing in Forex is everything.\r\n\r\n&nbsp;\r\n\r\nMy initial solution, and it is on-going, has been my savior to my trading performance this year so far, with just 6/7 weeks left to go.\r\n\r\n&nbsp;\r\n\r\nI introduced PART-TIME TRADER TRADES now called POSITION TRADES at the start of 2016. This trading style is based upon my FUNDAMENTAL longer-term market views. These trades are LIMIT ORDER entry trades with very wide stops based on ATR (Average True Range) limits, mostly weekly limits, but sometimes monthly limits, using Fibonacci levels and trend lines to set stops and limits.\r\n\r\n&nbsp;\r\n\r\nThey have been, due to the way that the Forex market has been held to ransom inside tight trading ranges for most of the year, creating very choppy market conditions very successful.\r\n\r\n&nbsp;\r\n\r\nI am NOT saying that these trades and the way I trade them because I still have to assess trades all the time and close off trades early etc.… are the “B all and end all” holy grail for PART-TIME TRADERS but they are a step in the right direction.\r\n\r\n&nbsp;\r\n\r\nThese trades also suit FULL-TIME traders who want to take a longer-term perspective.\r\n\r\n&nbsp;\r\n\r\nHow successful have they been?\r\n\r\n&nbsp;\r\n\r\nHow do I measure their success?\r\n\r\n&nbsp;\r\n\r\nVery simply, when launching these trades, a year ago I created a page on my website landing page at <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a> called PART TIME FOREX TRADERS it is part of my drop down menu at the top of my landing page.\r\n\r\n&nbsp;\r\n\r\nI tried my best to define my target audience and I posted a cash flow projection, it is still there today and I have subsequently added quarterly reviews during the year.\r\n\r\n&nbsp;\r\n\r\nBelow is the initial cash flow projection that was posted the first week of January 2016.\r\n\r\n&nbsp;\r\n\r\n(INSERT 2016 – CASH FLOW PROJECTION)\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\nI am not going to spend a great deal of time on this. Basically for the purpose of this section of the DRIVE THRU blog will focus solely on MINI LOT traders.\r\n\r\n&nbsp;\r\n\r\nMy suggestion on day 1, was to open a broker account with USD$7,500. At the end of the year based only on single lot trades after costs to trade and my PREMIUM SERVICE annual subscription my goal was to grow the broker account from USD$7,500 to $15,052.50 by the end of 2016.\r\n\r\n&nbsp;\r\n\r\n<strong><u>That would be to double your initial investment after ALL costs were accounted for.</u></strong>\r\n\r\n<strong> </strong>\r\n\r\n<strong> </strong>\r\n\r\nHow have I faired with this quest?\r\n\r\n&nbsp;\r\n\r\nBelow is the spreadsheet update post I made to my website on the 31<sup>st</sup> March 2016. Three months after the launch.\r\n\r\n<strong> </strong>\r\n\r\n(INSERT 31.03.2016 REVIEW SPREAD SHEET)\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\nAs you can see the initial USD$7.500.00 now stood at USD$9,655.00 after ALL costs were accounted for.\r\n\r\n&nbsp;\r\n\r\nBelow is the spreadsheet update added to my drop down menu and posted on July 11<sup>th</sup> 2016.\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n(INSERT 30.06.2016 PROGRESS REVIEW)\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\nAs you can now further profits were added and the position at the end of June was USD$11,723.00. Again this is the net position after all costs have been taken into consideration.\r\n\r\n&nbsp;\r\n\r\nBelow is the update posted on 31<sup>st</sup> October 2016.\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n(INSERT 31.10.2016 REVIEW DOCUMENT)\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\nAt the end of last month, the cumulative position now shows that the original account with USD$7,500 now stands at net USD$13,868.00.\r\n\r\n&nbsp;\r\n\r\nThere is just under USD$1,200 in income left to achieve (1,200 pips over the months of November and December). It is a tall order.\r\n\r\n&nbsp;\r\n\r\nThere are more comments regarding the performance on my website under THE PART TIME TRADERS drop down menu.\r\n\r\n&nbsp;\r\n\r\nWhat about my macro thoughts on the performance of the POSITION TRADES?\r\n\r\n&nbsp;\r\n\r\nMy thoughts are very straightforward: -\r\n\r\n&nbsp;\r\n<ol>\r\n 	<li>This (2016) has been an extremely difficult year to trade in.</li>\r\n 	<li>My approach to trading this year has been almost a 180 degree turn on 2015 trading.</li>\r\n 	<li>Features and factors that prompted me to start this trading style, namely central bank diversification never became as big of an issue as I thought it would have been. I had to re-focus and adapt the POSITION trade set ups to compensate for this.</li>\r\n 	<li>This review of style, manifested itself in the facts that my projection was for just 90 trades in the year. So far I have completed 146 trades (more than 50% more than anticipated). My profits per trade are less and my losses per trade are well under projection.</li>\r\n 	<li>I am, given the above points 1-4, delighted to have achieved this performance so far.</li>\r\n 	<li>Have I delivered what I set out for PART-TIME traders? Not 100%. I have delivered profits but the timings for closing of trades is still an issue. I cannot let losses grow or profits diminish due to a trading style. I have to 100% trade the price action in the market as I see it.</li>\r\n 	<li>What about 2017?I will continue this trading style next year, but I will review my other trading styles. It is impossible to predict what type of a trading year 2017 will be, apart from the fact it contains 365 days and that there will always be a forex market every day the market is open.</li>\r\n</ol>\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\nIf you would like additional supporting data or detail about the performance and the tabs on my website landing page at <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a> do not answer your questions, contact me directly and I will supply the trading data you require. There are NO secrets. There are many, many spreadsheets detailing performance trade by trade and by trade and by trading style, way too many to place in this blog. If you are interested in the PREMIUM SERVICE and want more information, all you have to do is ask.\r\n\r\n&nbsp;\r\n\r\n<strong> </strong>\r\n<ol start=\"3\">\r\n 	<li><strong> LOOKING BACKWARDS: THE FX MARKET PLACE</strong></li>\r\n</ol>\r\n<strong><u> </u></strong>\r\n\r\n<strong>LAST WEEK’S FOREX and ECONOMIC NEWS – MY VIEWS:</strong>\r\n\r\n&nbsp;\r\n\r\nUK BREXIT HIGH COURT RULING &amp; BOE INFLATION REPORT:\r\n\r\n&nbsp;\r\n\r\nHoly crap.\r\n\r\n&nbsp;\r\n\r\nI totally get the high court’s reasoning behind parliament needing an agreement to trigger article 50. However, one would have thought given the fact that all along David Cameron (ex. UK Prime Minister) and Theresa May (current Prime Minister) have both stated that it was in the UK governments power alone to trigger article 50, that the legal “johnnies” would have given Cameron a legal opinion on this matter prior to the voting slips being printed?\r\n\r\n&nbsp;\r\n\r\nOr did Cameron enter the referendum believing all was well in blighty… well it may have been in central London and no legal opinion was sought, did he believe that it was a slam dunk REMAIN victory?\r\n\r\n&nbsp;\r\n\r\nWhat emanates out of this court ruling is yet more uncertainty. The appeal against this decision will be heard the first week of December and ruled upon then.\r\n\r\n&nbsp;\r\n\r\nI would love an audience with Cameron and May to ask them a few questions about this process.\r\n\r\n&nbsp;\r\n\r\nThe referendum voting slip said: -\r\n\r\n&nbsp;\r\n\r\n<strong>“This is your decision. The Government will implement what you decide”</strong>\r\n\r\n&nbsp;\r\n\r\nThe Supreme court could go either way on the high court ruling.\r\n\r\n&nbsp;\r\n\r\nAt the end of the day, let’s say Parliament has to vote. MP’s in fear of not being elected next time around, would be one brick from a full load if they did NOT vote in line with their constituents wishes from the BREXIT vote last June. If it’s just a vote, this is politics, the MP’s will vote in line with the people who elected them to represent their wishes.\r\n\r\n&nbsp;\r\n\r\nIn my opinion, it all depends on the wording of the paper put before the MP’s to vote on. It will end up being so vague to ensure an agreement between the House of Commons and the popular vote last June.\r\n\r\n&nbsp;\r\n\r\nThen we move on…. here’s a thought!\r\n\r\nTheresa May might call a snap general election, to firm up her mandate over the BREXIT negotiations and timings. Elections in the UK are usually held in Spring or Autumn. Dissolving Parliament takes 25-30 days, could she hold an election in March 2017? Yes; she could; and rule nothing out about having an election in March 2017, with the mandate to trigger Article 50 by the end of the month.\r\n\r\n&nbsp;\r\n\r\nMy fear about all of this is that if parliament gets too much debating time over BREXIT negotiations, this weakens the UK exit negotiating team’s abilities in the negotiating process. All this stuff about HARD BREXIT or SOFT BREXIT is all bollo**s in my opinion, you are either in or out, the process may be straightforward but both sides want the best deal for them for basic and very obvious reasons.\r\n\r\n&nbsp;\r\n<ul>\r\n 	<li>EUROPEAN UNION – does not want the UK to cherry pick, because this will cause a CONTAGION effect.</li>\r\n 	<li>UK – wants border controls and the London Financial hub to remain as is.</li>\r\n</ul>\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\nHaving a huge debate in Parliament is like (from the wild west days) “Selling guns to the Indians”. All the UK lines in the sand will be out there in the media and in front of the European union negotiating teams. This is going to result in the UK being on the back foot during negotiating and elevates the position of the European Union negotiating team.\r\n\r\n&nbsp;\r\n\r\nWe are as traders guaranteed more uncertainty and frankly I am still of the opinion to sell the rips in cable, my views on this have not changed. So, with BREXIT being the decision of the people…my arse it was….so far what was a clear vote has caused nothing but uncertainties.\r\n\r\n&nbsp;\r\n\r\nMoving on….\r\n\r\n&nbsp;\r\n\r\nAt his latest Press Conference, this time the BOE Inflation Report, Carney did the usual, now customary, re-jigging of growth numbers that take place at practically every Central Bank press conference, regardless of location in the world. However, Carney was projecting upwards revisions rather than downwards. I had a nose bleed when I saw the numbers.\r\n\r\n&nbsp;\r\n\r\nDespite all the gloom and doom from the “REMAIN” campaigners the UK economy so far has been extremely resilient. Carney moved revised upwards the GBP projections from this quarter through to 2018. Although let’s be clear higher CPi numbers comes from, in the main, the weaker currency moves in sterling.\r\n\r\n&nbsp;\r\n\r\nThe two events combined created a nice spike, to sell into in my opinion. Nothing has FUNDAMENTALLY changed when you look at all things. The big issue that Carney has to consider moving forward is that with regards to inward investment into the UK. He has to strike a balance between inflation potentials and interest rates to ensure that investment continues to come through.\r\n\r\n&nbsp;\r\n\r\nThose pundits / analysts calling for rate hikes next year are a little premature in my opinion. There is a lot of water due to flow under the bridge before the subject of interest rate hikes should be contemplated never mind discussed.\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\nFOMC STATEMENT:\r\n\r\n&nbsp;\r\n\r\nA non-event. I would however point out that there was a line in the statement that called for more improvement in data. The UBER DOVE… Janet Yellen may use this as a way to hold off further on increasing rates.\r\n\r\n&nbsp;\r\n\r\nI have written several times stating that it is so easy to be DOVE and much harder to be a HAWK.\r\n\r\n&nbsp;\r\n\r\nI believe that Janet Yellen has displayed so much hesitancy in her time a FED chair, that she is a ditherer. God only knows what will happen in December if the lost awaited heavily anticipated and predicted interest rate hike does not happen.\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\nTHE U.S. PRESIDENTIAL ELECTION:\r\n\r\n&nbsp;\r\n\r\nI eluded to this earlier in the blog. THE TRUMP effect is in play. The USD/MXN is the TRUMP TRADE. If you believe that TRUMP will be elected president, go long this pair. If you believe it will be HILLARY send her an email with the heading CLASSIFIED and go short the USD/MXN.\r\n\r\n&nbsp;\r\n\r\nAs numerous polls are released the USD/MXN reacts based upon who is out in front. The USD/MXN is up and down more time than a pair of prostitute’s knickers.\r\n\r\n&nbsp;\r\n\r\nNot only is the USD/MXN directly affected with wild swings it all spills over the DXY and a flight to safety trade with both the JPY and CHF. I am certain that Thomas Jordan at the SNB is not a happy puppy about all of this volatile price action.\r\n\r\n&nbsp;\r\n\r\nLess than a week to go. Then we can trade on reality…whatever form that will be!!\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\nOPEC – PRODUCTION CUTS:\r\n\r\n&nbsp;\r\n\r\nAs I have written over and over. There is an oil glut. There is a massive miss between supply and demand.\r\n\r\n&nbsp;\r\n\r\nFrankly oil has had its day. The self-serving countries that formed the cartel OPEC have never agreed on a damn thing from day one unless oil prices have been rising. To have a production cut or freeze frankly in an environment where this cannot be checked is a joke.\r\n\r\n&nbsp;\r\n\r\nOPEC released a glibly worded agreement (verbally) to have the I’s dotted and t’s crossed at the end of November 2016. They had to do something after the Algiers meeting. In my opinion had they done nothing, the price of oil was once doomed to move lower to $30.00. They bought themselves some time, which appears to have backfired. They gave the waiting press a bulls*t statement, which, of course, the markets bought and oil rallied through $50.00, which, it could not sustain.\r\n\r\n&nbsp;\r\n\r\nA statement from the Saudis in response to an Iranian release that they would not freeze output was announced, basically it was along the lines of “If you don\'t freeze we will pump like feck… it was allegedly not made and was withdrawn.  If it wasn\'t made how do you withdraw it?\r\n\r\nDraw your own conclusions, as I see it…\r\n\r\n&nbsp;\r\n\r\nWe now get closer to placing one’s testicles on the chopping board and nobody wants to be a born again soprano. The Iranians want to “pump baby pump” and raise the digit to its OPEC “friends!”. The Saudi in retaliation threaten to fill the worlds bathtubs with cheap oil, they would pump 36 hours a day if they could!!\r\n\r\nAnd there you have it - a collection of self-serving oil producers who are solely focused on themselves. They say one thing and do the opposite. Even if they said there was a freeze in production, who knows if they are telling the truth. They are as manipulative as the market players in that market. We can see that from basic economic supply and demand curves.\r\n\r\n&nbsp;\r\n\r\nThe obvious trades after the election are long USD/CAD, USD/NOK and dare I say it USD/MXN.\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\nU.S. NON FARM PAYROLLS:\r\n\r\n&nbsp;\r\n\r\nA non-event. It was completely over shadowed by the U.S. election news.  We just bounced around.\r\n\r\n<strong> </strong>\r\n<ol start=\"4\">\r\n 	<li><strong> LOOKING FORWARDS:</strong></li>\r\n</ol>\r\n<strong> </strong>\r\n\r\n<strong>THIS WEEK’S FOREX and ECONOMIC NEWS – MY VIEWS:</strong>\r\n\r\n<strong> </strong>\r\n\r\n<u>THIS WEEK’S FOREX NEWS THAT INTERESTS ME:</u>\r\n\r\n(There are many more news items related to the Forex Market other than the ones listed below. These are the ones that interest me. You can go to <a href=\"http://www.forexfactory.com\">www.forexfactory.com</a> and <a href=\"http://www.tradingeconomics.com\">www.tradingeconomics.com</a> for a more comprehensive lists of all news events that are Forex related).\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\nSUNDAY: N/A.\r\n\r\n&nbsp;\r\n\r\nMONDAY: CNY – Trade Balance.\r\n\r\n&nbsp;\r\n\r\nTUESDAY: USD – Presidential Election.\r\n\r\n&nbsp;\r\n\r\nWEDNESDAY: NZD – RBNZ Rate Statement and Press Conference.\r\n\r\nTHURSDAY: N/A.\r\nFRIDAY: CAD – BOC Governor Poloz speaks.\r\n\r\n&nbsp;\r\n\r\nThere is not an abundance of news items this week.\r\n\r\n&nbsp;\r\n\r\nThe big ones in my opinion that I will be very interested in are: -\r\n\r\n&nbsp;\r\n<ul>\r\n 	<li>S. Presidential Election.</li>\r\n 	<li>NZD – RBNZ Rate Statement and Press Conference.</li>\r\n</ul>\r\n&nbsp;\r\n\r\nWe must also bear in mind that the BREXIT will continue to offer volatility moving forward given the high court ruling on article 50.  I would not be surprised to see EUROZONE players getting involved in the media sound-bytes, plus we are now in the same month as the alleged proposed OPEC OIL production cut, this should also start to weigh in.\r\n\r\n&nbsp;\r\n\r\n<u> </u>\r\n\r\n<u>FOREX TRADING IN GENERAL TERMS THIS WEEK:</u>\r\n\r\n&nbsp;\r\n\r\nIt’s all about the U.S. election. I would be keeping clear of the USD as much as possible until the results are in.\r\n\r\n&nbsp;\r\n\r\nThe thought process is that with a HILLARY victory the stock market would move up for a day or two and with the TRUMP collapse due to uncertainty. Basically unless you have core positions that you are trading and you have clearly set out your trading parameters the less RISK approach is to wait.\r\n\r\n&nbsp;\r\n\r\nI had looked at trading some cross rates in the run up to the election and this did not fair too well for me so I think the prudent approach all around it to wait.\r\n\r\nJust remember, it could be very difficult to get into trades when / if the markets are chopping around as results come in. You have to be really careful in any chop fest. If you recall it was extremely difficult to enter new trades during the BREXIT results. I see this being exactly the same.\r\n\r\n&nbsp;\r\n\r\nIt’s risky to get in ahead of the results and very risky as well when the results are coming in even if you could get into your account to trade.\r\n\r\n&nbsp;\r\n\r\nFor those of you who trade with FXCM good luck. They will freeze to protect themselves, not you the trader. They froze you out for over four hours on the EUR/CHF PEG removal and a little less as I understand it on BREXIT referendum. I would expect more of the same with them, why would they change?\r\n\r\n&nbsp;\r\n\r\nIf you are sidelined, you may not be able to access your account until the result is confirmed. Remember, margin levels have been increased or about to be increased by many brokers.\r\n\r\n&nbsp;\r\n\r\nBottom line just be careful. Very small position sizes if you have to participate.\r\n\r\n<u> </u>\r\n\r\n<u> </u>\r\n\r\n<u>THIS COMING WEEK - THE USD MAJORS (MY THOUGHTS): </u>\r\n\r\n(In this section I have as usual kept my charts as minimalist as possible. With regards to charting in my opinion less is more!! I hope that they are clear. All readers regardless of level of experience should be able to follow my thoughts from my comments to the levels on the charts with ease)\r\n\r\n&nbsp;\r\n\r\nMy comments are contained on the charts.\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\nEUR/USD - Weekly Closing Price: 1.1138\r\n\r\n&nbsp;\r\n\r\nGBP/USD - Weekly Closing Price: 1.2515\r\n\r\n&nbsp;\r\n\r\nAUD/USD - Weekly Closing Price: 0.7670\r\n\r\n&nbsp;\r\n\r\nNZD/USD - Weekly Closing Price: 0.7323\r\n\r\n&nbsp;\r\n\r\nUSD/CAD - Weekly Closing Price: 1.3399\r\n\r\n&nbsp;\r\n\r\nUSD/CHF - Weekly Closing Price: 0.9679\r\n\r\n&nbsp;\r\n\r\nUSD/JPY - Weekly Closing Price: 103.09\r\n\r\n&nbsp;\r\n\r\n<u> </u>\r\n\r\n<u> </u>\r\n\r\n<u>THIS COMING WEEK - THE NON-USD MAJORS PAIRS (MY THOUGHTS):</u>\r\n\r\n<u> </u>\r\n\r\nI tried trading some cross-rates last week with little success at all. The polls showing TRUMP catching up with HILLARY created havoc across the board.\r\n\r\n&nbsp;\r\n\r\nAs I have stated already the prudent approach is to wait until after the votes are counted and a winner is declared. Then it’s all about RISK ON or RISK OFF moving forward.\r\n\r\n<strong> </strong>\r\n\r\n<strong> </strong>\r\n<ol start=\"5\">\r\n 	<li><strong> PREMIUM SERVICE SUBSCRIBER EXCLUSIVE CONTENT AREA:</strong></li>\r\n</ol>\r\n<u> </u>\r\n<ol start=\"6\">\r\n 	<li><strong> MY CLOSING THOUGHTS:</strong></li>\r\n</ol>\r\n<u> </u>\r\n\r\n&nbsp;\r\n\r\nThe sword of Damocles hangs over the market at the moment. Basically we are on hold until we see if THE DONALD or HILLARY are pronounced victors.\r\n\r\n&nbsp;\r\n\r\nThe zero risk option is to be 100% flat with trades. I have a couple of core positions that I am trading at the moment, they are not full size and one core position does not involve the USD currency.\r\n\r\n&nbsp;\r\n\r\nI have a feeling that additional BREXIT fallout will be hitting the markets at the same time as the U.S. election results. The cynic in me says if you are going to release really big news do at the time of a major geopolitical event. We have news on the horizon relating to BREXIT, no better time than Tuesday night, better still market open Wednesday to do it.\r\n\r\n&nbsp;\r\n\r\nThe one thing I do see is a great deal of volatility.\r\n\r\n&nbsp;\r\n\r\nTherefore, if you want zero RISK; if you just want to sit back and observe I would say that Wednesday / Thursday next week would be the time to re-establish LIVE positions.\r\n\r\n&nbsp;\r\n\r\nIf you are going to trade, expect a chop fest. Do not get suckered into believing the market is moving strongly in one direction. It can and does change in an instant.\r\n\r\n&nbsp;\r\n\r\nAs usual…\r\n\r\n&nbsp;\r\n\r\nAlways remember longevity in Forex trading can only be achieved through trading with good RISK and MONEY MANAGEMENT, and above all set your position sizes in accordance with the size of your account and allow for some flexibility.\r\n\r\n&nbsp;\r\n\r\nTake care,\r\n\r\n&nbsp;\r\n\r\nScott Pickering\r\n\r\nThe Pip Accumulator\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/disclaimer/\">http://weeklyfxdrivethru.com/disclaimer/</a>\r\n\r\nBLOG VERSION: #221 FREE NEWSLETTER\r\nDATE: 5<sup>th</sup> November 2016.\r\n\r\n&nbsp;','BREXIT - “IT’S YOUR DECISION…” YEAH RIGHT','','inherit','closed','closed','','8610-revision-v1','','','2016-11-05 16:37:12','2016-11-05 21:37:12','',8610,'http://weeklyfxdrivethru.com/8610-revision-v1/',0,'revision','',0),(8613,1,'2016-11-05 16:50:58','2016-11-05 21:50:58','<strong> </strong>\r\n<ol>\r\n 	<li><strong> INTRODUCTION:</strong></li>\r\n</ol>\r\nI was going to make the title of this week’s blog something relevant to the U.S. Presidential election.\r\n\r\nOn Friday last week, CNN posted a poll stating that 83% of eligible Americans who can vote were disgusted with the way the Presidential campaigns were run.\r\n\r\nSo to all American readers….\r\n\r\nPlease, get out there and…\r\n\r\n<strong>VOTE FOR YOUR LEAST HATED CANDIDATE</strong>\r\n\r\nand let’s get the news cycle changed, please I am begging you!!\r\n\r\nMoving on…\r\n\r\nLast week was a very busy week for news items.\r\n\r\nI made an elementary mistake early in the week that I paid the ultimate price for. Even though I was aware of the geopolitical events on the horizon coupled with a packed economic calendar, I went into long USD trades too early, although not too aggressively. I took some hits, which has set me back a little.\r\n\r\nI was also caught off my guard with the U.S. opinion polls, from which, I took my trades expecting a bounce in the DXY but the flight to safety surrounding the possible TRUMP election victory took me for 300 pips. I felt somewhat like a lamb to the slaughter. However, as I have written about several times in this blog it’s NOT about how you fall down, it’s more about how you get back up!\r\n\r\nLooking ahead…\r\n\r\nI am a huge believer in having a TRADE PLAN and then actually trying to TRADE YOUR PLAN. You will read in many places a phrase PLAN YOUR TRADES and TRADE YOUR PLAN. I believe 100% with this approach to Forex. When I go into big news items I will have my plan in mind, as I need to know what way I am going to play the news, if it is my intention to trade the news. On many occasions I stay sidelined. I have moved more and more to trading with a longer-term perspective and to be effective with this type of trading you have to be able for the most part to sit through news releases. There are from time to time exceptions but for the main part my trades are there longer term.\r\n\r\nThis was not how I approached trading Forex in 2015 and definitely not my approach in 2014. Why am I writing about this?\r\n\r\nBasically because I have just completed my October 2016 PREMIUM SERVICE performance, and updated all areas on my website whether open to all or the restricted areas open only to my PREMIUM SERVICE subscribers.\r\n\r\n2016 was a very different year and looking back on what I wrote in late December 2015 and early 2016 in my DRIVE THRU blogs the year has panned out almost 180 degrees away from what I expected.\r\n\r\nThe PREMIUM SERVICE performance has been fantastic (there’s nothing like self-praise) when I review the year so far.\r\n\r\nI am planning 2017 at the moment. I am looking at everything that I do with my business from the day to day to the macro level.\r\n\r\nFrom this week until the end of this year, Section 2 of the blog will be extended to show greater detail of the PREMIUM SERVICE returns. I am hoping that non-subscribers will find this additional information beneficial and convince them that they are missing out and subscribe.\r\n\r\nDo not forget…\r\n\r\nJust a quick reminder; each month, I am giving away a FREE PREMIUM SERVICE 4-week subscription. This gives the winner 100% access to the PREMIUM SERVICE website and ALL my PREMIUM SERVICE communications from my suggested trade set-ups to market commentaries and my thoughts.\r\n\r\nTo stand a chance of being the next subscription winner, you need to subscribe to receive this free blog via my website <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a><strong>  </strong>\r\n\r\nYou are automatically entered into a free monthly draw, once you’ve subscribed. Each month one lucky blog subscriber will receive a free subscription to the PREMIUM SERVICE.\r\n\r\n<strong> </strong>\r\n<ol start=\"2\">\r\n 	<li><strong> THE PREMIUM SERVICE:</strong></li>\r\n</ol>\r\n<u>WHAT IS THE PREMIUM SERVICE:</u>\r\n\r\nThe PREMIUM SERVICE is a subscriber, fee based trade set-up option for Forex traders regardless of experience or background. I provide traders suggested trades, and some market commentary related to open trades or factors within the overall market that have my interest.\r\n\r\nFull details of the PREMIUM SERVICE and the various trade styles plus how suggested trade set-ups are communicated can be found on my website landing page at <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a> by selecting THE PREMIUM SERVICE tab.\r\n\r\nAdditional information can be found by clicking TESTIMONIALS, PART-TIME TRADERS and FX PROMOTIONS tabs. To subscribe to THE PREMIUM SERVICE you will require a credit card.\r\n<p style=\"text-align: center;\"><u>PREMIUM SERVICE SUBSCRIPTION COSTS:</u></p>\r\n<p style=\"text-align: center;\">Details of features and benefits of a PREMIUM SERVICE subscription can be found on my website landing page at <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a> under the dropdown tab at the top of the page entitled HISTORY &amp; PERFORMANCE OF THE PREMIUM SERVICE. To subscribe follow the SUBSCRIBE HERE tab.</p>\r\n<p style=\"text-align: center;\">PREMIUM SERVICE subscription costs are as follows: -</p>\r\n<p style=\"text-align: center;\">CAD$240.00 - 4 weeks (1 month)\r\nCAD$500.00 - 10 weeks (3 months)\r\nCAD$750.00 - 20 weeks (6 months)\r\nCAD$1,250.00 - 40 weeks (12 months)\r\n<u>PLUS</u>: Existing PLATINUM MEMBERS (annual subscribers) can re-subscribe for a further 12 months for CAD$1,000.00</p>\r\n<p style=\"text-align: center;\">I work for about 40 weeks a year. Subscriptions are based on 40 published blogs of the WEEKLY FX DRIVE THRU per year. For the remaining 10 weeks, I am around tweeting, posting and managing existing LIVE trades, although my market activity is reduced.</p>\r\n<p style=\"text-align: center;\"><u>PREMIUM SERVICE PERFORMANCE:</u></p>\r\n<p style=\"text-align: center;\">PRESENT AND HISTORICAL QUICK PREMIUM SERVICE STATS:\r\nOCTOBER 2016\r\nNET PIPS OCTOBER:        +2,633 pips\r\nNET PIPS 2016 END OF OCTOBER:      +11,618 pips</p>\r\n<p style=\"text-align: center;\">THIS MONTH SO FAR TO 05.11.2016: -194 pips\r\nYEAR TO DATE TOTAL: +11,424 pips</p>\r\n<p style=\"text-align: center;\">NET PIPS 2015:       +10,686 pips\r\nNET PIPS 2014:       +11,209 pips</p>\r\nBelow, for additional information on the past and current trading I include excel spreadsheets detailing the overviews of the PREMIUM SERVICE performance.\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/PREM-SERV-NET-PROFITS-2016.png\"><img class=\"aligncenter size-large wp-image-8597\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/PREM-SERV-NET-PROFITS-2016-925x1024.png\" alt=\"prem-serv-net-profits-2016\" width=\"925\" height=\"1024\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/PREM-SERV-NET-PROFITS-2015.png\"><img class=\"aligncenter size-full wp-image-8588\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/PREM-SERV-NET-PROFITS-2015.png\" alt=\"prem-serv-net-profits-2015\" width=\"1010\" height=\"872\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/PREM-SERV-NET-PROFITS-2014.png\"><img class=\"aligncenter size-full wp-image-8587\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/PREM-SERV-NET-PROFITS-2014.png\" alt=\"prem-serv-net-profits-2014\" width=\"1012\" height=\"838\" /></a>\r\n\r\n&nbsp;\r\n\r\nPART-TIME TRADER (POSITION) TRADES:\r\n\r\nAt the end of 2015, having listened to many of my subscribers and from a market survey that I undertook, I wanted to try and address those Forex traders who would consider themselves to be a PART-TIME trader for whatever reason.\r\n\r\nPART-TIME FOREX TRADERS fall between a rock and a hard place.  It is very, very difficult with limited access to computers due to full-time employment or limited access to a computer due time constraints, to have a voice when trading.\r\n\r\nNow more than ever you really need to be 24 x 5 with your devices to keep on top of things.\r\n\r\nI wanted to try and find a trading solution for PART-TIME TRADERS.\r\n\r\nLet me be the first to say, my solution is not 100% perfect. You can put lipstick on a pig but it’s still a pig, if you understand me. This is not an easy fix. But I wanted to try, and to be honest, timing in Forex is everything.\r\n\r\nMy initial solution, and it is on-going, has been my savior to my trading performance this year so far, with just 6/7 weeks left to go.\r\n\r\nI introduced PART-TIME TRADER TRADES now called POSITION TRADES at the start of 2016. This trading style is based upon my FUNDAMENTAL longer-term market views. These trades are LIMIT ORDER entry trades with very wide stops based on ATR (Average True Range) limits, mostly weekly limits, but sometimes monthly limits, using Fibonacci levels and trend lines to set stops and limits.\r\n\r\nThey have been, due to the way that the Forex market has been held to ransom inside tight trading ranges for most of the year, creating very choppy market conditions very successful.\r\n\r\nI am NOT saying that these trades and the way I trade them because I still have to assess trades all the time and close off trades early etc.… are the “B all and end all” holy grail for PART-TIME TRADERS but they are a step in the right direction.\r\n\r\nThese trades also suit FULL-TIME traders who want to take a longer-term perspective.\r\n\r\nHow successful have they been?\r\n\r\nHow do I measure their success?\r\n\r\nVery simply, when launching these trades, a year ago I created a page on my website landing page at <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a> called PART TIME FOREX TRADERS it is part of my drop down menu at the top of my landing page.\r\n\r\nI tried my best to define my target audience and I posted a cash flow projection, it is still there today and I have subsequently added quarterly reviews during the year.\r\n\r\nBelow is the initial cash flow projection that was posted the first week of January 2016.\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/POS-TRADES-CASHFLOW-JAN16.png\"><img class=\"aligncenter size-large wp-image-8590\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/POS-TRADES-CASHFLOW-JAN16-808x1024.png\" alt=\"pos-trades-cashflow-jan16\" width=\"808\" height=\"1024\" /></a>\r\n\r\nI am not going to spend a great deal of time on this. Basically for the purpose of this section of the DRIVE THRU blog will focus solely on MINI LOT traders.\r\n\r\nMy suggestion on day 1, was to open a broker account with USD$7,500. At the end of the year based only on single lot trades after costs to trade and my PREMIUM SERVICE annual subscription my goal was to grow the broker account from USD$7,500 to $15,052.50 by the end of 2016.\r\n\r\n<strong><u>That would be to double your initial investment after ALL costs were accounted for.</u></strong>\r\n\r\nHow have I faired with this quest?\r\n\r\nBelow is the spreadsheet update post I made to my website on the 31<sup>st</sup> March 2016. Three months after the launch.\r\n\r\n<strong> <a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/POS-TRADES-CASHFLOW-MARCH16.png\"><img class=\"aligncenter size-large wp-image-8591\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/POS-TRADES-CASHFLOW-MARCH16-1024x864.png\" alt=\"pos-trades-cashflow-march16\" width=\"1024\" height=\"864\" /></a><a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/POS-TRADES-CASHFLOW-MARCH16.png\">\r\n</a></strong>\r\n\r\nAs you can see the initial USD$7.500.00 now stood at USD$9,655.00 after ALL costs were accounted for.\r\n\r\nBelow is the spreadsheet update added to my drop down menu and posted on July 11<sup>th</sup> 2016.\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/POS-TRADES-CASHFLOW-JUNE16.png\"><img class=\"aligncenter size-large wp-image-8592\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/POS-TRADES-CASHFLOW-JUNE16-1024x806.png\" alt=\"pos-trades-cashflow-june16\" width=\"1024\" height=\"806\" /></a>\r\n\r\nAs you can now further profits were added and the position at the end of June was USD$11,723.00. Again this is the net position after all costs have been taken into consideration.\r\n\r\nBelow is the update posted on 31<sup>st</sup> October 2016.\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/POS-TRADES-CASHFLOW-OCT16.png\"><img class=\"aligncenter size-large wp-image-8593\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/POS-TRADES-CASHFLOW-OCT16-1024x792.png\" alt=\"pos-trades-cashflow-oct16\" width=\"1024\" height=\"792\" /></a>\r\n\r\n&nbsp;\r\n\r\nAt the end of last month, the cumulative position now shows that the original account with USD$7,500 now stands at net USD$13,868.00.\r\n\r\nThere is just under USD$1,200 in income left to achieve (1,200 pips over the months of November and December). It is a tall order.\r\n\r\nThere are more comments regarding the performance on my website under THE PART TIME TRADERS drop down menu.\r\n\r\nWhat about my macro thoughts on the performance of the POSITION TRADES?\r\n\r\nMy thoughts are very straightforward: -\r\n<ol>\r\n 	<li>This (2016) has been an extremely difficult year to trade in.</li>\r\n 	<li>My approach to trading this year has been almost a 180 degree turn on 2015 trading.</li>\r\n 	<li>Features and factors that prompted me to start this trading style, namely central bank diversification never became as big of an issue as I thought it would have been. I had to re-focus and adapt the POSITION trade set ups to compensate for this.</li>\r\n 	<li>This review of style, manifested itself in the facts that my projection was for just 90 trades in the year. So far I have completed 146 trades (more than 50% more than anticipated). My profits per trade are less and my losses per trade are well under projection.</li>\r\n 	<li>I am, given the above points 1-4, delighted to have achieved this performance so far.</li>\r\n 	<li>Have I delivered what I set out for PART-TIME traders? Not 100%. I have delivered profits but the timings for closing of trades is still an issue. I cannot let losses grow or profits diminish due to a trading style. I have to 100% trade the price action in the market as I see it.</li>\r\n 	<li>What about 2017?I will continue this trading style next year, but I will review my other trading styles. It is impossible to predict what type of a trading year 2017 will be, apart from the fact it contains 365 days and that there will always be a forex market every day the market is open.</li>\r\n</ol>\r\nIf you would like additional supporting data or detail about the performance and the tabs on my website landing page at <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a> do not answer your questions, contact me directly and I will supply the trading data you require. There are NO secrets. There are many, many spreadsheets detailing performance trade by trade and by trade and by trading style, way too many to place in this blog. If you are interested in the PREMIUM SERVICE and want more information, all you have to do is ask.\r\n\r\n<strong> </strong>\r\n<ol start=\"3\">\r\n 	<li><strong> LOOKING BACKWARDS: THE FX MARKET PLACE</strong></li>\r\n</ol>\r\n<strong>LAST WEEK’S FOREX and ECONOMIC NEWS – MY VIEWS:</strong>\r\n\r\nUK BREXIT HIGH COURT RULING &amp; BOE INFLATION REPORT:\r\n\r\nHoly crap.\r\n\r\nI totally get the high court’s reasoning behind parliament needing an agreement to trigger article 50. However, one would have thought given the fact that all along David Cameron (ex. UK Prime Minister) and Theresa May (current Prime Minister) have both stated that it was in the UK governments power alone to trigger article 50, that the legal “johnnies” would have given Cameron a legal opinion on this matter prior to the voting slips being printed?\r\n\r\nOr did Cameron enter the referendum believing all was well in blighty… well it may have been in central London and no legal opinion was sought, did he believe that it was a slam dunk REMAIN victory?\r\n\r\nWhat emanates out of this court ruling is yet more uncertainty. The appeal against this decision will be heard the first week of December and ruled upon then.\r\n\r\nI would love an audience with Cameron and May to ask them a few questions about this process.\r\n\r\nThe referendum voting slip said: -\r\n\r\n<strong>“This is your decision. The Government will implement what you decide”</strong>\r\n\r\nThe Supreme court could go either way on the high court ruling.\r\n\r\nAt the end of the day, let’s say Parliament has to vote. MP’s in fear of not being elected next time around, would be one brick from a full load if they did NOT vote in line with their constituents wishes from the BREXIT vote last June. If it’s just a vote, this is politics, the MP’s will vote in line with the people who elected them to represent their wishes.\r\n\r\nIn my opinion, it all depends on the wording of the paper put before the MP’s to vote on. It will end up being so vague to ensure an agreement between the House of Commons and the popular vote last June.\r\n\r\nThen we move on…. here’s a thought!\r\n\r\nTheresa May might call a snap general election, to firm up her mandate over the BREXIT negotiations and timings. Elections in the UK are usually held in Spring or Autumn. Dissolving Parliament takes 25-30 days, could she hold an election in March 2017? Yes; she could; and rule nothing out about having an election in March 2017, with the mandate to trigger Article 50 by the end of the month.\r\n\r\nMy fear about all of this is that if parliament gets too much debating time over BREXIT negotiations, this weakens the UK exit negotiating team’s abilities in the negotiating process. All this stuff about HARD BREXIT or SOFT BREXIT is all bollo**s in my opinion, you are either in or out, the process may be straightforward but both sides want the best deal for them for basic and very obvious reasons.\r\n<ul>\r\n 	<li>EUROPEAN UNION – does not want the UK to cherry pick, because this will cause a CONTAGION effect.</li>\r\n 	<li>UK – wants border controls and the London Financial hub to remain as is.</li>\r\n</ul>\r\nHaving a huge debate in Parliament is like (from the wild west days) “Selling guns to the Indians”. All the UK lines in the sand will be out there in the media and in front of the European union negotiating teams. This is going to result in the UK being on the back foot during negotiating and elevates the position of the European Union negotiating team.\r\n\r\nWe are as traders guaranteed more uncertainty and frankly I am still of the opinion to sell the rips in cable, my views on this have not changed. So, with BREXIT being the decision of the people…my arse it was….so far what was a clear vote has caused nothing but uncertainties\r\n\r\nMoving on….\r\n\r\nAt his latest Press Conference, this time the BOE Inflation Report, Carney did the usual, now customary, re-jigging of growth numbers that take place at practically every Central Bank press conference, regardless of location in the world. However, Carney was projecting upwards revisions rather than downwards. I had a nose bleed when I saw the numbers.\r\n\r\nDespite all the gloom and doom from the “REMAIN” campaigners the UK economy so far has been extremely resilient. Carney moved revised upwards the GBP projections from this quarter through to 2018. Although let’s be clear higher CPi numbers comes from, in the main, the weaker currency moves in sterling.\r\n\r\nThe two events combined created a nice spike, to sell into in my opinion. Nothing has FUNDAMENTALLY changed when you look at all things. The big issue that Carney has to consider moving forward is that with regards to inward investment into the UK. He has to strike a balance between inflation potentials and interest rates to ensure that investment continues to come through.\r\n\r\nThose pundits / analysts calling for rate hikes next year are a little premature in my opinion. There is a lot of water due to flow under the bridge before the subject of interest rate hikes should be contemplated never mind discussed.\r\n\r\nFOMC STATEMENT:\r\n\r\nA non-event. I would however point out that there was a line in the statement that called for more improvement in data. The UBER DOVE… Janet Yellen may use this as a way to hold off further on increasing rates.\r\n\r\nI have written several times stating that it is so easy to be DOVE and much harder to be a HAWK.\r\n\r\nI believe that Janet Yellen has displayed so much hesitancy in her time a FED chair, that she is a ditherer. God only knows what will happen in December if the lost awaited heavily anticipated and predicted interest rate hike does not happen.\r\n\r\n&nbsp;\r\n\r\nTHE U.S. PRESIDENTIAL ELECTION:\r\n\r\nI eluded to this earlier in the blog. THE TRUMP effect is in play. The USD/MXN is the TRUMP TRADE. If you believe that TRUMP will be elected president, go long this pair. If you believe it will be HILLARY send her an email with the heading CLASSIFIED and go short the USD/MXN.\r\n\r\nAs numerous polls are released the USD/MXN reacts based upon who is out in front. The USD/MXN is up and down more time than a pair of prostitute’s knickers.\r\n\r\nNot only is the USD/MXN directly affected with wild swings it all spills over the DXY and a flight to safety trade with both the JPY and CHF. I am certain that Thomas Jordan at the SNB is not a happy puppy about all of this volatile price action.\r\n\r\nLess than a week to go. Then we can trade on reality…whatever form that will be!!\r\n\r\n&nbsp;\r\n\r\nOPEC – PRODUCTION CUTS:\r\n\r\nAs I have written over and over. There is an oil glut. There is a massive miss between supply and demand.\r\n\r\nFrankly oil has had its day. The self-serving countries that formed the cartel OPEC have never agreed on a damn thing from day one unless oil prices have been rising. To have a production cut or freeze frankly in an environment where this cannot be checked is a joke.\r\n\r\nOPEC released a glibly worded agreement (verbally) to have the I’s dotted and t’s crossed at the end of November 2016. They had to do something after the Algiers meeting. In my opinion had they done nothing, the price of oil was once doomed to move lower to $30.00. They bought themselves some time, which appears to have backfired. They gave the waiting press a bulls*t statement, which, of course, the markets bought and oil rallied through $50.00, which, it could not sustain.\r\n\r\nA statement from the Saudis in response to an Iranian release that they would not freeze output was announced, basically it was along the lines of “If you don\'t freeze we will pump like feck… it was allegedly not made and was withdrawn.  If it wasn\'t made how do you withdraw it?\r\n\r\nDraw your own conclusions, as I see it…\r\n\r\nWe now get closer to placing one’s testicles on the chopping board and nobody wants to be a born again soprano. The Iranians want to “pump baby pump” and raise the digit to its OPEC “friends!”. The Saudi in retaliation threaten to fill the worlds bathtubs with cheap oil, they would pump 36 hours a day if they could!!\r\n\r\nAnd there you have it - a collection of self-serving oil producers who are solely focused on themselves. They say one thing and do the opposite. Even if they said there was a freeze in production, who knows if they are telling the truth. They are as manipulative as the market players in that market. We can see that from basic economic supply and demand curves.\r\n\r\nThe obvious trades after the election are long USD/CAD, USD/NOK and dare I say it USD/MXN.\r\n\r\n&nbsp;\r\n\r\nU.S. NON FARM PAYROLLS:\r\n\r\nA non-event. It was completely over shadowed by the U.S. election news.  We just bounced around.\r\n\r\n<strong> </strong>\r\n<ol start=\"4\">\r\n 	<li><strong> LOOKING FORWARDS:</strong><strong> </strong></li>\r\n</ol>\r\n<strong>THIS WEEK’S FOREX and ECONOMIC NEWS – MY VIEWS:</strong><strong> </strong>\r\n\r\n<u>THIS WEEK’S FOREX NEWS THAT INTERESTS ME:</u>\r\n\r\n(There are many more news items related to the Forex Market other than the ones listed below. These are the ones that interest me. You can go to <a href=\"http://www.forexfactory.com\">www.forexfactory.com</a> and <a href=\"http://www.tradingeconomics.com\">www.tradingeconomics.com</a> for a more comprehensive lists of all news events that are Forex related).\r\n\r\nSUNDAY: N/A.\r\n\r\nMONDAY: CNY – Trade Balance.\r\n\r\nTUESDAY: USD – Presidential Election.\r\n\r\nWEDNESDAY: NZD – RBNZ Rate Statement and Press Conference.\r\n\r\nTHURSDAY: N/A.\r\n\r\nFRIDAY: CAD – BOC Governor Poloz speaks.\r\n\r\n&nbsp;\r\n\r\nThere is not an abundance of news items this week.\r\n\r\nThe big ones in my opinion that I will be very interested in are: -\r\n<ul>\r\n 	<li>U.S. Presidential Election.</li>\r\n 	<li>NZD – RBNZ Rate Statement and Press Conference.</li>\r\n</ul>\r\nWe must also bear in mind that the BREXIT will continue to offer volatility moving forward given the high court ruling on article 50.  I would not be surprised to see EUROZONE players getting involved in the media sound-bytes, plus we are now in the same month as the alleged proposed OPEC OIL production cut, this should also start to weigh in.\r\n\r\n<u> </u>\r\n\r\n<u>FOREX TRADING IN GENERAL TERMS THIS WEEK:</u>\r\n\r\nIt’s all about the U.S. election. I would be keeping clear of the USD as much as possible until the results are in.\r\n\r\nThe thought process is that with a HILLARY victory the stock market would move up for a day or two and with the TRUMP collapse due to uncertainty. Basically unless you have core positions that you are trading and you have clearly set out your trading parameters the less RISK approach is to wait.\r\n\r\nI had looked at trading some cross rates in the run up to the election and this did not fair too well for me so I think the prudent approach all around it to wait.\r\n\r\nJust remember, it could be very difficult to get into trades when / if the markets are chopping around as results come in. You have to be really careful in any chop fest. If you recall it was extremely difficult to enter new trades during the BREXIT results. I see this being exactly the same.\r\n\r\nIt’s risky to get in ahead of the results and very risky as well when the results are coming in even if you could get into your account to trade.\r\n\r\nFor those of you who trade with FXCM good luck. They will freeze to protect themselves, not you the trader. They froze you out for over four hours on the EUR/CHF PEG removal and a little less as I understand it on BREXIT referendum. I would expect more of the same with them, why would they change?If you are sidelined, you may not be able to access your account until the result is confirmed. Remember, margin levels have been increased or about to be increased by many brokers.\r\n\r\nBottom line just be careful. Very small position sizes if you have to participate.\r\n\r\n<u> </u>\r\n\r\n<u>THIS COMING WEEK - THE USD MAJORS (MY THOUGHTS): </u>\r\n\r\n(In this section I have as usual kept my charts as minimalist as possible. With regards to charting in my opinion less is more!! I hope that they are clear. All readers regardless of level of experience should be able to follow my thoughts from my comments to the levels on the charts with ease)\r\n\r\nMy comments are contained on the charts.\r\n\r\nEUR/USD - Weekly Closing Price: 1.1138\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/EURUSD-DAILY-05112016.png\"><img class=\"aligncenter size-large wp-image-8599\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/EURUSD-DAILY-05112016-1024x477.png\" alt=\"eurusd-daily-05112016\" width=\"1024\" height=\"477\" /></a>\r\n\r\nGBP/USD - Weekly Closing Price: 1.2515\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/GBPUSD-DAILY-05112016.png\"><img class=\"aligncenter size-large wp-image-8600\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/GBPUSD-DAILY-05112016-1024x477.png\" alt=\"gbpusd-daily-05112016\" width=\"1024\" height=\"477\" /></a>\r\n\r\nAUD/USD - Weekly Closing Price: 0.7670\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/AUDUSD-DAILY-05112016.png\"><img class=\"aligncenter size-large wp-image-8598\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/AUDUSD-DAILY-05112016-1024x477.png\" alt=\"audusd-daily-05112016\" width=\"1024\" height=\"477\" /></a>\r\n\r\nNZD/USD - Weekly Closing Price: 0.7323\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/NZDUSD-DAILY-05112016.png\"><img class=\"aligncenter size-large wp-image-8601\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/NZDUSD-DAILY-05112016-1024x477.png\" alt=\"nzdusd-daily-05112016\" width=\"1024\" height=\"477\" /></a>\r\n\r\nUSD/CAD - Weekly Closing Price: 1.3399\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/USDCAD-DAILY-05112016.png\"><img class=\"aligncenter size-large wp-image-8602\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/USDCAD-DAILY-05112016-1024x477.png\" alt=\"usdcad-daily-05112016\" width=\"1024\" height=\"477\" /></a>\r\n\r\nUSD/CHF - Weekly Closing Price: 0.9679\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/USDCHF-DAILY-05112016.png\"><img class=\"aligncenter size-large wp-image-8603\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/USDCHF-DAILY-05112016-1024x477.png\" alt=\"usdchf-daily-05112016\" width=\"1024\" height=\"477\" /></a>\r\n\r\nUSD/JPY - Weekly Closing Price: 103.09\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/USDJPY-DAILY-05112016.png\"><img class=\"aligncenter size-large wp-image-8604\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/USDJPY-DAILY-05112016-1024x477.png\" alt=\"usdjpy-daily-05112016\" width=\"1024\" height=\"477\" /></a>\r\n\r\n<u> </u>\r\n\r\n<u>THIS COMING WEEK - THE NON-USD MAJORS PAIRS (MY THOUGHTS):</u>\r\n\r\nI tried trading some cross-rates last week with little success at all. The polls showing TRUMP catching up with HILLARY created havoc across the board.\r\n\r\nAs I have stated already the prudent approach is to wait until after the votes are counted and a winner is declared. Then it’s all about RISK ON or RISK OFF moving forward.\r\n\r\n<strong> </strong><strong> </strong>\r\n<ol start=\"5\">\r\n 	<li><strong> PREMIUM SERVICE SUBSCRIBER EXCLUSIVE CONTENT AREA:</strong></li>\r\n</ol>\r\n<ol start=\"6\">\r\n 	<li><strong> MY CLOSING THOUGHTS:</strong></li>\r\n</ol>\r\nThe sword of Damocles hangs over the market at the moment. Basically we are on hold until we see if THE DONALD or HILLARY are pronounced victors.\r\n\r\nThe zero risk option is to be 100% flat with trades. I have a couple of core positions that I am trading at the moment, they are not full size and one core position does not involve the USD currency.\r\n\r\nI have a feeling that additional BREXIT fallout will be hitting the markets at the same time as the U.S. election results. The cynic in me says if you are going to release really big news do at the time of a major geopolitical event. We have news on the horizon relating to BREXIT, no better time than Tuesday night, better still market open Wednesday to do it.\r\n\r\nThe one thing I do see is a great deal of volatility.\r\n\r\nTherefore, if you want zero RISK; if you just want to sit back and observe I would say that Wednesday / Thursday next week would be the time to re-establish LIVE positions.\r\n\r\nIf you are going to trade, expect a chop fest. Do not get suckered into believing the market is moving strongly in one direction. It can and does change in an instant.\r\n\r\nAs usual…\r\n\r\nAlways remember longevity in Forex trading can only be achieved through trading with good RISK and MONEY MANAGEMENT, and above all set your position sizes in accordance with the size of your account and allow for some flexibility.\r\n\r\nTake care,\r\n\r\nScott Pickering\r\nThe Pip Accumulator\r\n<a href=\"http://weeklyfxdrivethru.com/disclaimer/\">http://weeklyfxdrivethru.com/disclaimer/</a>\r\n\r\nBLOG VERSION: #221 FREE NEWSLETTER\r\nDATE: 5<sup>th</sup> November 2016.','BREXIT - “IT’S YOUR DECISION…” YEAH RIGHT','','inherit','closed','closed','','8610-revision-v1','','','2016-11-05 16:50:58','2016-11-05 21:50:58','',8610,'http://weeklyfxdrivethru.com/8610-revision-v1/',0,'revision','',0),(8615,1,'2016-11-11 16:13:33','2016-11-11 21:13:33','','prem-ser-profits1-12112016','','inherit','open','closed','','prem-ser-profits1-12112016','','','2016-11-11 16:20:57','2016-11-11 21:20:57','',5000,'http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/PREM-SER-PROFITS1-12112016.png',0,'attachment','image/png',0),(8616,1,'2016-11-11 16:13:37','2016-11-11 21:13:37','','prem-serv-profits2-2016','','inherit','open','closed','','prem-serv-profits2-2016','','','2016-11-11 16:21:11','2016-11-11 21:21:11','',5000,'http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/PREM-SERV-PROFITS2-2016.png',0,'attachment','image/png',0),(8617,1,'2016-11-11 16:13:45','2016-11-11 21:13:45','','radar-12112016','','inherit','open','closed','','radar-12112016','','','2016-11-11 16:17:30','2016-11-11 21:17:30','',2524,'http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/RADAR-12112016.png',0,'attachment','image/png',0),(8618,1,'2016-11-11 16:13:50','2016-11-11 21:13:50','','flash-12112016','','inherit','open','closed','','flash-12112016','','','2016-11-11 16:16:46','2016-11-11 21:16:46','',2711,'http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/FLASH-12112016.png',0,'attachment','image/png',0),(8619,1,'2016-11-11 16:13:58','2016-11-11 21:13:58','','fun1-12112016','','inherit','open','closed','','fun1-12112016','','','2016-11-11 16:18:19','2016-11-11 21:18:19','',3106,'http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/FUN1-12112016.png',0,'attachment','image/png',0),(8620,1,'2016-11-11 16:14:01','2016-11-11 21:14:01','','fun2-12112016','','inherit','open','closed','','fun2-12112016','','','2016-11-11 16:18:25','2016-11-11 21:18:25','',3106,'http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/FUN2-12112016.png',0,'attachment','image/png',0),(8621,1,'2016-11-11 16:14:05','2016-11-11 21:14:05','','fun3-12112016','','inherit','open','closed','','fun3-12112016','','','2016-11-11 16:18:31','2016-11-11 21:18:31','',3106,'http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/FUN3-12112016.png',0,'attachment','image/png',0),(8622,1,'2016-11-11 16:14:09','2016-11-11 21:14:09','','pos1-12112016','','inherit','open','closed','','pos1-12112016','','','2016-11-11 16:19:28','2016-11-11 21:19:28','',6965,'http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/POS1-12112016.png',0,'attachment','image/png',0),(8623,1,'2016-11-11 16:14:12','2016-11-11 21:14:12','','pos2-12112016','','inherit','open','closed','','pos2-12112016','','','2016-11-11 16:19:34','2016-11-11 21:19:34','',6965,'http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/POS2-12112016.png',0,'attachment','image/png',0),(8624,1,'2016-11-11 16:14:16','2016-11-11 21:14:16','','2014-ps-pref','','inherit','open','closed','','2014-ps-pref','','','2016-12-02 16:07:00','2016-12-02 21:07:00','',3012,'http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/2014-PS-PREF.png',0,'attachment','image/png',0),(8625,1,'2016-11-11 16:14:20','2016-11-11 21:14:20','','2015-ps-perf','','inherit','open','closed','','2015-ps-perf','','','2016-12-02 16:06:28','2016-12-02 21:06:28','',3012,'http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/2015-PS-PERF.png',0,'attachment','image/png',0),(8626,1,'2016-11-11 16:14:23','2016-11-11 21:14:23','','ps-perf-2016-to-date-12112016','','inherit','open','closed','','ps-perf-2016-to-date-12112016','','','2016-11-12 13:27:19','2016-11-12 18:27:19','',8645,'http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/PS-PERF-2016-TO-DATE-12112016.png',0,'attachment','image/png',0),(8627,1,'2016-11-11 16:14:28','2016-11-11 21:14:28','','pos-trade-proj-2016','','inherit','open','closed','','pos-trade-proj-2016','','','2016-11-12 13:28:55','2016-11-12 18:28:55','',8645,'http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/POS-TRADE-PROJ-2016.png',0,'attachment','image/png',0),(8628,1,'2016-11-11 16:14:35','2016-11-11 21:14:35','','pos-position-q1-2016','','inherit','open','closed','','pos-position-q1-2016','','','2016-11-11 16:14:35','2016-11-11 21:14:35','',0,'http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/POS-POSITION-Q1-2016.png',0,'attachment','image/png',0),(8629,1,'2016-11-11 16:14:40','2016-11-11 21:14:40','','pos-position-q2-2016','','inherit','open','closed','','pos-position-q2-2016','','','2016-11-11 16:14:40','2016-11-11 21:14:40','',0,'http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/POS-POSITION-Q2-2016.png',0,'attachment','image/png',0),(8630,1,'2016-11-11 16:14:43','2016-11-11 21:14:43','','pos-proj-2016-q3','','inherit','open','closed','','pos-proj-2016-q3','','','2016-11-12 13:29:28','2016-11-12 18:29:28','',8645,'http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/POS-PROJ-2016-Q3.png',0,'attachment','image/png',0),(8631,1,'2016-11-11 16:14:46','2016-11-11 21:14:46','','limit-orders-12112016','','inherit','open','closed','','limit-orders-12112016','','','2016-11-12 13:39:18','2016-11-12 18:39:18','',8645,'http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/LIMIT-ORDERS-12112016.png',0,'attachment','image/png',0),(8632,1,'2016-11-11 16:14:49','2016-11-11 21:14:49','','live-trades-12112016','','inherit','open','closed','','live-trades-12112016','','','2016-11-12 13:39:03','2016-11-12 18:39:03','',8645,'http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/LIVE-TRADES-12112016.png',0,'attachment','image/png',0),(8908,1,'2017-01-07 07:49:07','2017-01-07 12:49:07','&nbsp;\r\n\r\n&nbsp;\r\n<ol>\r\n 	<li><strong> INTRODUCTION:</strong></li>\r\n</ol>\r\nWelcome 2017.\r\n\r\nWherever you are located, whether you celebrate the Christmas / New Year Holidays or not, I hope you had an enjoyable break.\r\n\r\nI re-opened my screens last week, traded a little, lost more money than I made, getting caught up in thin volume trading and got taken in and out of trades whilst asleep, oh what joy, happy days, it feels great to be back!\r\n\r\nMoving on…\r\n\r\nHopefully from next Monday onwards the markets will have a little more volume attached to them and it will business as usual. I ignored Non-Farm Payrolls and the like last week, I only managed existing trades. I am mentally and psychologically ready for next Monday 9<sup>th</sup> January.\r\n\r\nWhat’s new to mention, that will appear different this year in comparison to last year?\r\n<ol>\r\n 	<li>The “DRIVE THRU” blog format / structure is being amended over the next few weeks. There are some subtle changes already in place.\r\nOne of the benefits of your own blog is the fact you can write all sorts of stuff, you can choose what or who you write about and how you write about them or it.\r\nThis year I am launching “SCOTT’S SOAPBOX” (Section 5 on most blog formats). I will “have a go” in my own way at a multitude of subjects and FX personalities as the year progresses. There is NO shortage of topics or numpties to write about. I have a plethora of subjects ready to rock.</li>\r\n 	<li>Starting next Monday 9<sup>th</sup> January 2017 at 30PM EST – my long-awaited debut on PERISCOPE starts. The 30 minute or so broadcasts are through my twitter address @pipaccumulator\r\nI can be flexible on this time but this was the most popular, and I like it. From my perspective, it\'s a great time as it will be after the close of day one of a new week. We can look at price movements based upon the previous week’s weekly candle plus the last two daily candles.\r\nIn 2016 movements on daily candles were the foundation of the PREMIUM SERVICE success.\r\nAll I ask is cut me some slack for the first two or three weeks whilst I get comfortable with the process….!!</li>\r\n 	<li>During the holiday break, I have been asked by a few non-PREMIUM SERVICE subscribers to re-introduce the weekly training feature that was in my blog each week in 2013-2015.\r\nLast year I had thought about bringing this back, however, I have decided that this is a PREMIUM SERVICE (PLATINUM) subscriber benefit This will be available on a one-on-one basis through the PLATINUM subscriber review meeting.</li>\r\n</ol>\r\n<ol start=\"4\">\r\n 	<li>PREMIUM SERVICE subscription prices have been updated for 2017.</li>\r\n</ol>\r\nLet’s hope that we have a directional, easy to read liquid market with all currencies obeying trend lines, chart pattern measured moves, and it respects Fibonacci levels. Boring as that might be we would all make plenty of $$$ should that happen.\r\n\r\nMy thoughts are that the forex market will be a dysfunctional mess of Central Bank governors clutching at straws in attempts to explain the unexplainable. In addition, we will have the desk sucking, pen pushing, jotter blotters, who are mainly unelected officials (numpties) in places such as Brussels, forcing through their own interpretations of policies creating chaos and disorder in all markets. Not to forget cartels like OPEC who do not even control 100% of their market trying to influence price by defying the pure economics of supply and demand.\r\n\r\nIn summary; I see 2017 a bit of a 2016 replay.\r\n\r\nLet’s get at it….\r\n\r\n<strong> </strong>\r\n<ol start=\"2\">\r\n 	<li><strong> THE FX MARKET PLACE – LOOKING FORWARD:</strong></li>\r\n</ol>\r\n<strong><u>NOTE:</u></strong> This year, 2017, I am not going to look backwards in this section only forwards. News items / points of interest from the prior week will be covered in the introduction.\r\n\r\n<u>ECONOMIC DATA RELEASES:</u>\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/ECON-DATA-08012017.png\"><img class=\"aligncenter size-large wp-image-8873\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/ECON-DATA-08012017-935x1024.png\" alt=\"\" width=\"935\" height=\"1024\" /></a>\r\n\r\n&nbsp;\r\n\r\n<u>MY THOUGHTS ON THE WEEK AHEAD:</u>\r\n\r\nIt looks like a pretty light week on economic data this coming week.\r\n\r\nGiven the price action at the end of last week and the “TRUMP EFFECT” maybe being a little overdone to say the least, we could be in for a choppy period through to the “DONALD’S” inauguration.\r\n\r\nI think that the fact we have seen reactions from both the Chinese and Mexican Central Banks to the  “TWEET EFFECT” from the U.S. President Elect, we will have more of the same on the calendar moving forward. I think we must expect the unexpected, and, frankly given the fact that TWITTER appears to be preferred method of communication at the moment on U.S. policy moves and ideas, we should be on our toes moving through Q1 2017 or at least until things settle down to the TRUMP way of being President. On the positive side, we will know in 140 characters what he’s thinking about rather than having to wade through pages of padding. Dare I say it, the FED could adopt this approach, and, whilst I am at it so could many of the other Central Banks, especially those awfully nice chaps from the RNBZ.\r\n\r\nTherefore, looking ahead, I think that geopolitical news and the stock market will drive the currencies over the next week…. yikes!!\r\n\r\n&nbsp;\r\n\r\n<u> </u>\r\n\r\n<u>USD MAJORS – “IMMEDIATE” SUPPORT &amp; RESISTANCE with TREND:</u>\r\n\r\n&nbsp;\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/T-CHART-08012017.png\"><img class=\"aligncenter size-large wp-image-8872\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/T-CHART-08012017-1024x794.png\" alt=\"\" width=\"1024\" height=\"794\" /></a>\r\n\r\n&nbsp;\r\n\r\nMy trade charts for the USD majors are below. My thoughts, views and commentary is written on the charts.\r\n\r\nYou will find my charts, hopefully easy to follow. I only use Fibonacci levels, trend lines, confluence points and sometimes chart patterns to identify my high probability trades. If you have any difficulty understanding the points that I am trying to make, please do not hesitate to contract me.\r\n\r\nEUR/USD:\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/EURUSD-D-08012017.png\"><img class=\"aligncenter size-large wp-image-8879\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/EURUSD-D-08012017-1024x475.png\" alt=\"\" width=\"1024\" height=\"475\" /></a>\r\n\r\n&nbsp;\r\n\r\nGBP/USD:\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/GBPUSD-D-08012017.png\"><img class=\"aligncenter size-large wp-image-8880\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/GBPUSD-D-08012017-1024x475.png\" alt=\"\" width=\"1024\" height=\"475\" /></a>\r\n\r\n&nbsp;\r\n\r\nAUD/USD:\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/AUDUSD-D-08012017.png\"><img class=\"aligncenter size-large wp-image-8878\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/AUDUSD-D-08012017-1024x475.png\" alt=\"\" width=\"1024\" height=\"475\" /></a>\r\n\r\n&nbsp;\r\n\r\nNZD/USD:\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/NZDUSD-D-08012017.png\"><img class=\"aligncenter size-large wp-image-8881\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/NZDUSD-D-08012017-1024x475.png\" alt=\"\" width=\"1024\" height=\"475\" /></a>\r\n\r\n&nbsp;\r\n\r\nUSD/CAD:\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/USDCAD-D-08012017.png\"><img class=\"aligncenter size-large wp-image-8882\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/USDCAD-D-08012017-1024x475.png\" alt=\"\" width=\"1024\" height=\"475\" /></a>\r\n\r\n&nbsp;\r\n\r\nUSD/CHF:\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/USDCHF-240M-08012017.png\"><img class=\"aligncenter size-large wp-image-8883\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/USDCHF-240M-08012017-1024x475.png\" alt=\"\" width=\"1024\" height=\"475\" /></a>\r\n\r\n&nbsp;\r\n\r\nUSD/JPY:\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/USDJPY-D-08012017.png\"><img class=\"aligncenter size-large wp-image-8884\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/USDJPY-D-08012017-1024x475.png\" alt=\"\" width=\"1024\" height=\"475\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n<ol start=\"3\">\r\n 	<li><strong>THE PREMIUM SERVICE:</strong></li>\r\n</ol>\r\n<u>WHAT IS THE PREMIUM SERVICE:</u>\r\n\r\nThe PREMIUM SERVICE is a subscriber, fee based trade set-up option for Forex traders regardless of experience or background. I provide traders suggested trades, and some market commentary related to open trades or factors within the overall market that have my interest.\r\n\r\nFull details of the PREMIUM SERVICE and costs to subscribe plus the various trade styles and how suggested trade set-ups are communicated can be found on my website landing page at <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a> by selecting THE PREMIUM SERVICE tab.\r\n\r\nAdditional information can be found by clicking TESTIMONIALS, PART-TIME TRADERS and FX PROMOTIONS tabs. To subscribe to THE PREMIUM SERVICE, you will require a valid credit card.\r\n\r\n<strong> </strong>\r\n<ol start=\"4\">\r\n 	<li><strong> PREMIUM SERVICE – SUBSCRIBER CONTENT AREA:</strong></li>\r\n</ol>\r\n&nbsp;\r\n<ol start=\"5\">\r\n 	<li><strong>SCOTT’S SOAPBOX:</strong></li>\r\n</ol>\r\nIf you recall, in my final “DRIVE THRU” of 2016, I provided a list of TRADING PREDICTIONS for 2017. I basically named several geopolitical events that I feel will weigh on the markets this year. Therefore, for the first few weeks of 2017, I want to look at these events in a little more detail.\r\n\r\nAs you will be aware, so much has been said already on the subjects that I have highlighted, I can only add points and views that are my own, based upon how I see things and how I am going to view trading around these events.<strong>\r\n</strong>\r\n<p style=\"text-align: center;\"><strong>BREXIT – A LOT OF HOT AIR AND AS OF </strong><strong>“RIGHT NOW” … STILL NOTHING HAS HAPPENED</strong></p>\r\nAs we all know Forex is a future pricing mechanism. Since late June last year after the BREXIT referendum took place, we have all sat back and waited for the mass job losses, economic disaster, financial markets in chaos and general doom and gloom to have run a riot in the UK. It just has not happened. All the fear mongering from David Cameron (Prime Minister at the time) and George Osborne (Chancellor of the Exchequer at the time) was just that…. fear mongering based on zero facts. In fact, if the truth be told those who supported and campaigned for the BREXIT have been closer to the truth than they probably thought during the fierce campaigning that took place in the run up to the June vote.\r\n\r\nThe vote to leave the EU was a huge one and so far, bugger all has happened apart from Messrs. Cameron and Osborne resigning and Theresa May being voted in by the Tory government as the new Prime Minister. Article 50 from the Lisbon treaty has still to be triggered. Prime Minister May has signaled that this will done prior to the end of march 2017.\r\n\r\nAfter the vote came in there was huge uncertainty, the cable dropped like a lead balloon and the BOE under the guidance of the part-time JCB driver on forward guidance aka BOE governor Mark Carney took immediate steps to protect the cable by reducing interest rates to 0.25% and provided additional sterling support through further Quantitative Easing (QE) by an additional £70 billion ensuring competitiveness in business and continued low interest rates for consumers amongst other stabling factors.\r\n\r\nCan you remember his Presidential style walk along a c.300-meter corridor to arrive at his lectern to deliver his rate cutting announcement? That walk was so damn long his mother had given him a packed lunch to eat half way and when he arrived at the lectern he needed to move his watch an hour forward… talk about over dramatic, Holy Mother of God.\r\n\r\nSo, let me look at a few key areas the BRITS were told would feck up their lives if they voted to BREXIT and where are we right now:\r\n<ul>\r\n 	<li>THE ECONOMY:Huge negative impact and consumer confidence would be crapping the bed. The economy continues to grow. In the quarter following the BREXIT vote by 0.6%.\r\nRetail sales grew 5.9% year over year in November 2016. Inflation has risen to 1.2% in November up from 0.5% in June 2016.\r\nCPi is at 1.2% the highest since October 2014.\r\nHouse price inflation has continued to ease following the BREXIT. This is most apparent in the London area where the impact of BREXIT will be felt the most.\r\nConstruction is bullish despite the rise in raw material prices that are imported.\r\nThe trade gap widened then narrowed in October as exports rose considerably helped by a weaker cable.\r\nThe job front it is more muddled. Unemployment fell from June to October but has since cooled a little as the Financial Services sector uncertainty starts to weigh a little.</li>\r\n 	<li>THE CABLE (CURRENCY):As expected with uncertainty and fueled by the BOE the GBP/USD exchange rate fell from 1.4700 to sub 1.2100 in the months that followed the BREXIT vote. Right now, I believe that cable is in a wide trading range of 1.2100 to 1.2800, see the chart below.\r\nThis move in currency, whilst it has helped exporters, has on the other side made foreign trips abroad for UK tourists more expensive and at the same time import prices for goods have also increased. Obviously, tourist numbers into the UK have increased significantly with a weaker cable.</li>\r\n 	<li>NEGOTIATIONS TO LEAVE THE EU:Nothing formal yet. Basically, Prime Minister May was advised by EU leaders that the UK would NOT have it easy leaving the EU and it would NOT be allowed to cherry pick EU benefits that it would like to retain given its proximity to mainland Europe. In fact, EU leaders gave Prime Minister May what amounted to a European “Two finger” salute by saying feck off and until you trigger article 50 we are not talking to you.\r\nThe whole situation around article 50 is cloudy. David Davis who is Secretary of State for leaving the EU, hasn\'t even confirmed that he will lead the negotiating team. So, mismanaged is the BREXIT itself the highest-ranking UK official in Brussels Sir Ivan Rogers resigned only last week claiming it’s all a muddle!\r\nThe EU has announced that former French Foreign Minister Michel Barnier will head up to lead the negotiations on behalf of the European Commission. No favours here, technically the BRITS and FRENCH are still at war. There will be no “Entente Cordiale”.\r\nSo it’s all up to Prime Minister May to trigger article 50.</li>\r\n</ul>\r\nThe bottom line; nothing has happened yet.\r\n\r\nWhen the BREXIT vote came through, I must admit my initial thoughts were that the UK would see this process as time consuming, uncertain, pro-longed and expensive. I thought that the government would do what has previously happened in IRELAND and THE NETHERLANDS…have another vote!!\r\n\r\nI had convinced myself that after a few weeks the calls for a re vote because the initial vote was so close would prevail. I have since changed my thoughts.\r\n\r\nThe alleged two years to exit is in my opinion a bit of a dream. Greenland population c.56,000 people left the EU it took them 2 years to exit. With a population of 65 million the UK, is never going to exit in two years given how inter-twined it currently is with the EU. Greenland had a bit of a partnership and that took two years, the BRITS have a far more complex situation.\r\n\r\nThe EU must remain strong and ensure that no special deals are done otherwise there will be a CONTAGION EFFECT as other countries line up to do likewise. The populist vote as seen by BREXIT and then TRUMP is in the ascendancy. There are elections in France, The Netherlands and Germany this year and in all three cases the existing leadership is under a serious threat.\r\n\r\nIn fact, I would go so far as to say that the EU leaders have done nothing at all to stem the tide of the growth in the populist parties back in their own countries, if anything the fact they (as a group) failed to unite after the BREXIT has only fueled the populist parties.\r\n\r\nI have written many times over the past 5/6 years about the fact that main stream politicians are practically useless in using political courage to knock back the populist right. I firmly believe that this is having more than just a minimal effect on EU stability. It is being seen / viewed by voters as mainstream politicians being out of touch.\r\n\r\n&nbsp;\r\n\r\nMOVING FORWARD and TRADING:\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/GBPUSD-FOR-BLOG-SECT5-08012017.png\"><img class=\"aligncenter size-large wp-image-8877\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/GBPUSD-FOR-BLOG-SECT5-08012017-1024x475.png\" alt=\"\" width=\"1024\" height=\"475\" /></a>\r\n\r\nThe BRITS must trigger article 50 before the end of March 2017, failure to do so will have the cable and the single currency doing a merry dance, with the EUR/GBP not knowing whether it’s coming or going.\r\n\r\nWith elections on the horizon the EU will be under its own pressures should a far-right party establish a foothold. It just requires one country to vote out mainstream politics and then we have a domino effect, then a potential CONTAGION.\r\n\r\nThis year I expect the EUR to be under pressure, and it will not take much to see it slip through parity and target lower levels such as 0.9500. We are dangerously close resting around the 1.0500-1.0700 levels, a couple of days with moves lower and if sub 1.0300 is taken a test of parity is on the cards.\r\n\r\nThe cable is still in a bubble despite some sideways moves of late. We are however just range trading and frankly a difficult BREXIT negotiation, which I am certain it will be, will result in a move lower. This talk of SOFT BREXIT / HARD BREXIT, is in my opinion a load of bollocks. It will be tough for the reasons I have already outlined, so to me it’s always going to be a HARD BREXIT…. nothing less. Price wise with the GBP/USD a re-test of just below 1.2100 is there for the taking and frankly 1.1500 maybe even less, looks more than achievable when you think of what needs to be done and the time that this is going to take.\r\n\r\nThe GBP crosses all look vulnerable except for the EUR/GBP for the reasons outlined above regarding the single currency. All the previous lows with the GBP/AUD, GBP/CAD, GBP/CHF, GBP/JPY and GBP/NZD are there, in my opinion for the taking.\r\n\r\nWhen you think so much has been said, so much has been suggested, so many analysts have voiced opinions and so much has been rumoured by so many people and institutions yet to date, nothing serious has happened apart from the vote itself some 7 months ago!!\r\n\r\nI can guarantee you that I will be revisiting this subject more than a dozen times this year.\r\n\r\n<strong> </strong>\r\n<ol start=\"6\">\r\n 	<li><strong>CLOSING THOUGHTS:</strong></li>\r\n</ol>\r\nNothing more to add here, I have said enough except,\r\n\r\nAs usual…\r\n\r\nAlways remember longevity in Forex trading can only be achieved through trading with good RISK and MONEY MANAGEMENT, and above all set your position sizes in accordance with the size of your account and allow for some flexibility.\r\n\r\nTake care, have a great trading week.\r\n\r\nScott Pickering\r\nThe Pip Accumulator\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/disclaimer/\">http://weeklyfxdrivethru.com/disclaimer/</a>\r\n\r\nBLOG VERSION: #226 FREE NEWSLETTER\r\nDATE: 8<sup>th</sup> January 2017.\r\n\r\n&nbsp;','BREXIT – A LOT OF HOT AIR AND AS OF “RIGHT NOW” … STILL NOTHING HAS HAPPENED','','publish','open','closed','','brexit-lot-hot-air-right-now-still-nothing-happened','','','2017-01-07 07:49:07','2017-01-07 12:49:07','',0,'http://weeklyfxdrivethru.com/?p=8908',0,'post','',0),(8977,1,'2017-01-21 13:10:27','2017-01-21 18:10:27','<section class=\"one-sixth first\">\r\n<h4>Flash Trades Archives:</h4>\r\n</section><section class=\"five-sixths\">\r\n<div class=\"one-half first\">\r\n<h2>This Month\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/FLASH-22012017.png\"><img class=\"aligncenter size-large wp-image-8962\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/FLASH-22012017-717x1024.png\" alt=\"\" width=\"717\" height=\"1024\" /></a></h2>\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n</div>\r\n<div class=\"one-half\">\r\n<h2>Year to date\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/FLASH-22012017.png\"><img class=\"aligncenter size-large wp-image-8962\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/FLASH-22012017-717x1024.png\" alt=\"\" width=\"717\" height=\"1024\" /></a></h2>\r\n<h2>Previous Years</h2>\r\n<h2><img class=\"aligncenter size-full wp-image-8809\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/12/FLASH-2016-COMPLETE.png\" alt=\"\" width=\"872\" height=\"952\" />\r\n<img class=\"aligncenter wp-image-6987\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/12/FLASH-2015-COMP.png\" alt=\"FLASH 2015 COMP\" width=\"544\" height=\"576\" /></h2>\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/FLASH-2014-COMPLETE.png\"><img class=\"aligncenter size-full wp-image-8859\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/FLASH-2014-COMPLETE.png\" alt=\"\" width=\"700\" height=\"744\" /></a>\r\n<h2></h2>\r\n</div>\r\n</section>','Flash Trades','','inherit','closed','closed','','2711-revision-v1','','','2017-01-21 13:10:27','2017-01-21 18:10:27','',2711,'http://weeklyfxdrivethru.com/2711-revision-v1/',0,'revision','',0),(9029,1,'2017-01-28 06:22:09','2017-01-28 11:22:09','<section class=\"one-sixth first\">\r\n<h4>Radar Trades Archives:</h4>\r\n</section><section class=\"five-sixths\">\r\n<div class=\"one-half first\">\r\n<h2>This Month\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/RADAR-28012017.png\"><img class=\"aligncenter size-large wp-image-9001\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/RADAR-28012017-757x1024.png\" alt=\"\" width=\"757\" height=\"1024\" /></a></h2>\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n</div>\r\n<div class=\"one-half\">\r\n<h2>Year to date\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/RADAR-28012017.png\"><img class=\"aligncenter size-large wp-image-9001\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/RADAR-28012017-757x1024.png\" alt=\"\" width=\"757\" height=\"1024\" /></a></h2>\r\n&nbsp;\r\n<h2>PREVIOUS YEARS</h2>\r\n<img class=\"aligncenter size-full wp-image-8807\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/12/RADAR-2016-COMPLETE.png\" alt=\"\" width=\"856\" height=\"938\" />\r\n<a href=\"https://weeklyfxdrivethru.com/radar-trades/radar-2015-comp/\" rel=\"attachment wp-att-6985\"><img class=\"aligncenter wp-image-6985\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/12/RADAR-2015-COMP.png\" alt=\"RADAR 2015 COMP\" width=\"511\" height=\"535\" /></a>\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/RADAR-2014-COMPLETE.png\"><img class=\"aligncenter wp-image-8858\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/RADAR-2014-COMPLETE.png\" alt=\"\" width=\"489\" height=\"487\" /></a>\r\n\r\n</div>\r\n</section>','Radar Trades','','inherit','closed','closed','','2524-revision-v1','','','2017-01-28 06:22:09','2017-01-28 11:22:09','',2524,'http://weeklyfxdrivethru.com/2524-revision-v1/',0,'revision','',0),(9061,1,'2017-02-01 07:40:30','2017-02-01 12:40:30','<section class=\"one-sixth first\">\r\n<h4>PIP PERFORMANCE YEAR BY YEAR Archives:</h4>\r\n</section><section class=\"five-sixths\">\r\n<div>\r\n<h2>2017 v 2016\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/PIP-COMPARISONS-JAN2017.png\"><img class=\"aligncenter size-large wp-image-9054\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/PIP-COMPARISONS-JAN2017-1024x811.png\" alt=\"\" width=\"1024\" height=\"811\" /></a></h2>\r\n<h2></h2>\r\n<h2></h2>\r\n<h2></h2>\r\n<h2>2016 v 2015\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/12/PIP-COMPARISON-2016-COMPLETE.png\"><img class=\"aligncenter size-large wp-image-8816\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/12/PIP-COMPARISON-2016-COMPLETE-1024x615.png\" alt=\"\" width=\"1024\" height=\"615\" /></a></h2>\r\n&nbsp;\r\n\r\n</div>\r\n<div>\r\n<h2>2015 v 2014</h2>\r\n<img class=\"aligncenter wp-image-6992\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/12/PIP-COMP-2015-v-2014-COMP.png\" alt=\"PIP COMP 2015 v 2014 COMP\" width=\"1059\" />\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n</div>\r\n</section>','PIP PERFORMANCE YEAR by YEAR COMPARISONS','','inherit','closed','closed','','6869-revision-v1','','','2017-02-01 07:40:30','2017-02-01 12:40:30','',6869,'http://weeklyfxdrivethru.com/6869-revision-v1/',0,'revision','',0),(8868,1,'2017-01-06 17:22:25','2017-01-06 22:22:25','','RADAR 08012017','','inherit','open','closed','','radar-08012017','','','2017-01-07 06:46:54','2017-01-07 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17:22:50','2017-01-06 22:22:50','','T CHART 08012017','','inherit','open','closed','','t-chart-08012017','','','2017-01-07 06:26:19','2017-01-07 11:26:19','',8885,'http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/T-CHART-08012017.png',0,'attachment','image/png',0),(8873,1,'2017-01-06 17:22:57','2017-01-06 22:22:57','','ECON DATA 08012017','','inherit','open','closed','','econ-data-08012017','','','2017-01-07 06:25:44','2017-01-07 11:25:44','',8885,'http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/ECON-DATA-08012017.png',0,'attachment','image/png',0),(8874,1,'2017-01-06 17:23:03','2017-01-06 22:23:03','','CB INTEREST RATES 2017','','inherit','open','closed','','cb-interest-rates-2017','','','2017-01-07 06:29:32','2017-01-07 11:29:32','',8885,'http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/CB-INTEREST-RATES-2017.png',0,'attachment','image/png',0),(8875,1,'2017-01-06 17:23:10','2017-01-06 22:23:10','','PS LIMIT ORDERS 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INSERT INTO `vp_backup_wp_posts` VALUES (8645,1,'2016-11-12 13:42:18','2016-11-12 18:42:18','<strong> </strong>\r\n<ol>\r\n 	<li><strong> INTRODUCTION:</strong></li>\r\n</ol>\r\nJesus, Mary and Joseph… THE DONALD did it.\r\n\r\nLast Tuesday was a hell of a ride, in fact it all started long before the day of the vote. The markets had decided that HILLARY had it all sewn up on the Monday morning following the prior weekends polls.\r\n\r\nNever has there been an election in the world, that I can remember, where everyone and I mean everyone had an opinion on the outcome, based upon the shenanigans that we have ALL lived through for the past 18 months.\r\n\r\nFrom a trading perspective, I went into the U.S. election with my focus on three pairs all based around a HILLARY victory. I banked a few pips on the night but to be honest, I was totally drawn in to the TV coverage, especially as the CNN expert panel started to think the unthinkable, and realise, that the candidate that they had trashed for the previous 12 months was about to become their next President. Between trading charts, two TV channels, Tweet Deck, emails and the odd connectivity issue, my primary focus was more on the prospect of THE DONALD in The White House than anything else.\r\n\r\nI had my TRADE PLAN (A) but my TRADE PLAN (B) was not fixed in my mind. I had my price extremes list on the currency pairs that interested me, that I had issued to PREMIUM SERVICE subscribers in front of me.\r\n\r\nI missed a great opportunity to short the EUR/USD after it became apparent that THE DONALD had a more than 50/50 chance of winning.  My pre-event chart had the areas of interest to me for a EUR/USD short at 1.1240 and 1.1310.  The pair spiked and leapt up like a salmon off 1.0990 support on the possible TRUMP victory. I advised PREMIUM SERVICE subscribers that I was NOT going to short at 1.1240 but 1.1310 the next level offered a better entry. The pair just failed short 1.1310 by a few pips.\r\n\r\nIt has subsequently fallen on the “TRUMPFLATION” move and is now challenging big support at 1.0850.\r\n\r\nSo, I missed several trades on the night. As I explained over twitter in the “wee hours”, you cannot be in all trades and such a geopolitical event is NOT just the night itself but the days that follow as well. On the night, I banked a smallish number of pips, however in the days that followed my pip gains have been much, much better.\r\n\r\nMoving on…\r\n\r\nThe aftermath of the elections was relatively good for my trading as basically all of the bank analysis about what would happen should THE DONALD be victorious was bullsh*t. The FX reaction was 180 degrees away from all of the banks market interpretations that I could lay my hands on.\r\n\r\nThe week prior to the election, the PREMIUM SERVICE was negative -194 pips, (for the month) having started November at -300 pips. Now a week later for the month of November the PREMIUM SERVICE is positive by +694 pips.\r\n\r\nAs my PREMIUM SERVICE subscribers are aware, I am dubious about the present levels in equities. The relationship between prices, EPS and overall valuations has me puzzled and I think we should not get carried away. I have started building short positions with the commodity currencies and I am gathering my thoughts and ideas for trading in 2017 based upon a TRUMP White House.\r\n\r\nMore of my 2017 thoughts and trade ideas are listed later in section 5 for PREMIUM SERVICE subscribers.\r\n\r\nDo not forget…\r\n\r\nJust a quick reminder; each month, I am giving away a FREE PREMIUM SERVICE 4-week subscription. This gives the winner 100% access to the PREMIUM SERVICE website and ALL my PREMIUM SERVICE communications from my suggested trade set-ups to market commentaries and my thoughts.\r\n\r\nTo stand a chance of being the next subscription winner, you need to subscribe to receive this free blog via my website <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a><strong>  </strong>\r\n\r\nYou are automatically entered into a free monthly draw, once you’ve subscribed. Each month one lucky blog subscriber will receive a free subscription to the PREMIUM SERVICE.\r\n\r\n<strong> </strong>\r\n<ol start=\"2\">\r\n 	<li><strong> THE PREMIUM SERVICE:</strong></li>\r\n</ol>\r\n<u>WHAT IS THE PREMIUM SERVICE:</u>\r\n\r\nThe PREMIUM SERVICE is a subscriber, fee based trade set-up option for Forex traders regardless of experience or background. I provide traders suggested trades, and some market commentary related to open trades or factors within the overall market that have my interest.\r\n\r\nFull details of the PREMIUM SERVICE and the various trade styles plus how suggested trade set-ups are communicated can be found on my website landing page at <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a> by selecting THE PREMIUM SERVICE tab.\r\n\r\nAdditional information can be found by clicking TESTIMONIALS, PART-TIME TRADERS and FX PROMOTIONS tabs. To subscribe to THE PREMIUM SERVICE you will require a credit card.\r\n\r\n<u>PREMIUM SERVICE SUBSCRIPTION COSTS:</u>\r\n\r\nDetails of features and benefits of a PREMIUM SERVICE subscription can be found on my website landing page at <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a> under the dropdown tab at the top of the page entitled HISTORY &amp; PERFORMANCE OF THE PREMIUM SERVICE. To subscribe follow the SUBSCRIBE HERE tab.\r\n\r\nPREMIUM SERVICE subscription costs are as follows: -\r\n\r\nCAD$240.00 - 4 weeks (1 month)\r\nCAD$500.00 - 10 weeks (3 months)\r\nCAD$750.00 - 20 weeks (6 months)\r\nCAD$1,250.00 - 40 weeks (12 months)\r\n<u>PLUS</u>: Existing PLATINUM MEMBERS (annual subscribers) can re-subscribe for a further 12 months for CAD$1,000.00\r\n\r\nI work for about 40 weeks a year. Subscriptions are based on 40 published blogs of the WEEKLY FX DRIVE THRU per year. For the remaining 10 weeks, I am around tweeting, posting and managing existing LIVE trades, although my market activity is reduced.\r\n\r\n<u> </u>\r\n\r\n<u>PREMIUM SERVICE PERFORMANCE:</u>\r\n\r\nPRESENT AND HISTORICAL QUICK PREMIUM SERVICE STATS:\r\n\r\nTHIS MONTH SO FAR: +694 pips\r\nYEAR TO DATE TOTAL: +12,312 pips\r\n\r\nNET PIPS 2015:       +10,686 pips\r\nNET PIPS 2014:       +11,209 pips\r\n\r\nBelow, for additional information, I show the net position of THE PREMIUM SERVICE performance for 2016. On my website landing page <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a> under the heading “HISTORY &amp; PERFORMANCE” there are more reports providing more historic trading information.\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/PS-PERF-2016-TO-DATE-12112016.png\"><img class=\"aligncenter size-large wp-image-8626\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/PS-PERF-2016-TO-DATE-12112016-944x1024.png\" alt=\"ps-perf-2016-to-date-12112016\" width=\"944\" height=\"1024\" /></a>\r\n\r\n&nbsp;\r\n\r\nPART-TIME TRADER (POSITION) TRADES:\r\n\r\nAt the end of 2015, having listened to many of my subscribers and from a market survey that I undertook, I wanted to try and address those Forex traders who would consider themselves to be a PART-TIME trader for whatever reason.\r\n\r\nPART-TIME FOREX TRADERS fall between a rock and a hard place.  It is very, very difficult with limited access to computers due to full-time employment or limited access to a computer due time constraints, to have a voice when trading.\r\n\r\nNow more than ever you really need to be 24 x 5 with your devices to keep on top of things.\r\n\r\nI wanted to try and find a trading solution for PART-TIME TRADERS.\r\n\r\nLet me be the first to say, my solution is not 100% perfect. You can put lipstick on a pig but it’s still a pig, if you understand me. This is not an easy fix. But I wanted to try, and to be honest, timing in Forex is everything.\r\n\r\nMy initial solution, and it is on-going, has been my savior to my trading performance this year so far, with just 6/7 weeks left to go.\r\n\r\nI introduced PART-TIME TRADER TRADES now called POSITION TRADES at the start of 2016. This trading style is based upon my FUNDAMENTAL longer-term market views. These trades are LIMIT ORDER entry trades with very wide stops based on ATR (Average True Range) limits, mostly weekly limits, but sometimes monthly limits, using Fibonacci levels and trend lines to set stops and limits.\r\n\r\nThey have been, due to the way that the Forex market has been held to ransom inside tight trading ranges for most of the year, creating very choppy market conditions very successful.\r\n\r\nI am NOT saying that these trades and the way I trade them because I still have to assess trades all the time and close off trades early etc.… are the “B all and end all” holy grail for PART-TIME TRADERS but they are a step in the right direction.\r\n\r\nThese trades also suit FULL-TIME traders who want to take a longer-term perspective.\r\n\r\nHow successful have they been?\r\n\r\nHow do I measure their success?\r\n\r\nVery simply, when launching these trades, a year ago I created a page on my website landing page at <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a> called PART TIME FOREX TRADERS it is part of my drop down menu at the top of my landing page.\r\n\r\nI tried my best to define my target audience and I posted a cash flow projection, it is still there today and I have subsequently added quarterly reviews during the year.\r\n\r\nBelow is the initial cash flow projection that was posted the first week of January 2016.\r\n\r\n&nbsp;\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/POS-TRADE-PROJ-2016.png\"><img class=\"aligncenter size-large wp-image-8627\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/POS-TRADE-PROJ-2016-818x1024.png\" alt=\"pos-trade-proj-2016\" width=\"818\" height=\"1024\" /></a>\r\n\r\n&nbsp;\r\n\r\nI am not going to spend a great deal of time on this. Basically for the purpose of this section of the DRIVE THRU blog will focus solely on MINI LOT traders.\r\n\r\nMy suggestion on day 1, was to open a broker account with USD$7,500. At the end of the year based only on single lot trades after costs to trade and my PREMIUM SERVICE annual subscription my goal was to grow the broker account from USD$7,500 to $15,052.50 by the end of 2016.\r\n\r\n<strong><u>That would be to double your initial investment after ALL costs were taken into consideration</u></strong>\r\n\r\nHow have I faired with this quest?\r\n\r\nBelow is the latest spreadsheet update post I made to my website on the 31<sup>st</sup> October 2016. On my website <a href=\"http://www.weeklyfxdivethru.com\">www.weeklyfxdivethru.com</a> landing page under the heading “PART TIME FOREX TRADERS” all my updates throughout 2016 can be found together with more information and background to these trade set ups.\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/POS-PROJ-2016-Q3.png\"><img class=\"aligncenter size-large wp-image-8630\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/POS-PROJ-2016-Q3-1024x806.png\" alt=\"pos-proj-2016-q3\" width=\"1024\" height=\"806\" /></a>\r\n\r\nAt the end of last month, the cumulative position now shows that the original account with USD$7,500 now stands at net USD$13,868.00.\r\n\r\nThere is just under USD$1,200 in income left to achieve (1,200 pips over the months of November and December). It is a tall order.\r\n\r\nWhat about my macro thoughts on the performance of the POSITION TRADES?\r\n\r\nMy thoughts are very straightforward: -\r\n<ol>\r\n 	<li>This (2016) has been an extremely difficult year to trade in.</li>\r\n 	<li>My approach to trading this year has been almost a 180 degree turn on 2015 trading.</li>\r\n 	<li>Features and factors that prompted me to start this trading style, namely central bank diversification never became as big of an issue as I thought it would have been. I had to re-focus and adapt the POSITION trade set ups to compensate for this.</li>\r\n 	<li>This review of style, manifested itself in the facts that my projection was for just 90 trades in the year. So far I have completed 146 trades (more than 50% more than anticipated). My profits per trade are less and my losses per trade are well under projection.</li>\r\n 	<li>I am, given the above points 1-4, delighted to have achieved this performance so far.</li>\r\n 	<li>Have I delivered what I set out for PART-TIME traders? Not 100%. I have delivered profits but the timings for closing of trades is still an issue. I cannot let losses grow or profits diminish due to a trading style. I have to 100% trade the price action in the market as I see it.</li>\r\n 	<li>What about 2017?\r\n\r\nI will continue this trading style next year, but I will review my other trading styles. It is impossible to predict what type of a trading year 2017 will be, apart from the fact it contains 365 days and that there will always be a forex market every day the market is open.</li>\r\n</ol>\r\nIf you would like additional supporting data or detail about the performance and the tabs on my website landing page at <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a> do not answer your questions, contact me directly and I will supply the trading data you require. There are NO secrets. There are many, many spreadsheets detailing performance trade by trade and by trade and by trading style, way too many to place in this blog. If you are interested in the PREMIUM SERVICE and want more information, all you have to do is ask.\r\n\r\n<strong> </strong>\r\n<ol start=\"3\">\r\n 	<li><strong> LOOKING BACKWARDS: THE FX MARKET PLACE</strong></li>\r\n</ol>\r\n<strong>LAST WEEK’S FOREX and ECONOMIC NEWS – MY VIEWS:</strong>\r\n\r\nU.S. PRESIDENTIAL ELECTION:\r\n\r\nAs I stated at the beginning of the blog THE DONALD (#45) is the next U.S. President.\r\n\r\nThe market reaction was opposite to what all the highly paid no skin in the market bank analysts had predicted, as soon as the markets realized that a TRUMP Presidency means SPEND, SPEND, SPEND and SPEND some more. In the U.S. with the great divide between Wall Street and Main Street firmly in situ (and those differences will be cemented in even more with THE DONALD in place at The White House), it was really hard to imagine that around 2.00AM EST on election night, the DOW was under a LIMIT DOWN and negative 830 points. Yet at the open it rallied to all-time highs.\r\n\r\nSince THE DONALD became President-elect, copper is on “Walter White” meth’s and the Bonds are dropping like a series of lead balloons across the financial centres. Gold is falling and Oil is starting to crater, regardless of the now laughable OPEC production cut to be formally written into the files of the “pointless and pathetic” at the end of this month.\r\n\r\nYup… welcome to the new world order; TRUMPISM and TRUMPFLATION is here!\r\n\r\nFrom the markets perspective, where money is concerned who gives a rats’ ass about who or what is President. The view is greater freedoms, less regulation, possible repeal of the Dodd-Frank legislation… happy days are here again.\r\n\r\n<strong> </strong>\r\n<ol start=\"4\">\r\n 	<li><strong> LOOKING FORWARDS:</strong></li>\r\n</ol>\r\n<strong>THIS WEEK’S FOREX and ECONOMIC NEWS – MY VIEWS:</strong>\r\n\r\n<u>THIS WEEK’S FOREX NEWS THAT INTERESTS ME:</u>\r\n\r\n(There are many more news items related to the Forex Market other than the ones listed below. These are the ones that interest me. You can go to <a href=\"http://www.forexfactory.com\">www.forexfactory.com</a> and <a href=\"http://www.tradingeconomics.com\">www.tradingeconomics.com</a> for a more comprehensive lists of all news events that are Forex related).\r\n\r\nSUNDAY: N/A.\r\n\r\nMONDAY: GBP – Inflation Report Hearings.\r\nMONDAY: NZD – Retail Sales.\r\nMONDAY: AUD – Monetary Policy Meeting Minutes.\r\n\r\nTUESDAY: GBP - CPi.\r\nTUESDAY: NZD – GDT Auction Results.\r\n\r\nWEDNESDAY: GBP – Jobs Data.\r\nWEDNESDAY: USD – PPi.\r\nWEDNESDAY: NZD – PPi.\r\nWEDNESDAY: AUD – Jobs Data.\r\n\r\nTHURSDAY: GBP – Retail Sales.\r\nTHURSDAY: USD – CPi, Core CPi, Philly FED Manufacturing Index.\r\n\r\nFRIDAY: CAD – Core CPi.\r\n\r\nA nice mix of high level data this week. Our attentions will be starting to shift once again to the FED, with the will she or wont she raise rates discussion entering all the inter-market chat rooms once again.\r\n\r\nIf she wants job security our little FED ditherer will raise rates in December as expected by the markets, who, are now allegedly 85% on board with a FED increase in December, and next year with TRUMPFLATION on the cards two/three further rises should NOT be ruled out.\r\n\r\nI am still bearish the cable and I am sitting in two short GBP/USD trades that are out of the money…argh!! I am therefore hoping for Theresa May or better still my mate Boris to say something bad this weekend regarding the BREXIT that causes cable to slip below 1.1500 preferably…. I live in hope!\r\n\r\nWe must also bear in mind that the BREXIT will continue to offer volatility moving forward given the high court ruling on article 50.  I would not be surprised to see EUROZONE players getting involved in the media sound-bytes, plus we are now in the same month as the alleged proposed OPEC OIL production cut (he laughs as he types!!), this should also start to weigh in on the markets.\r\n\r\n<u> </u>\r\n\r\nMY THOUGHTS ON “THE DONALDS” FALLOUT:\r\n\r\nNow before we all start popping Krug as if it were Dom Pérignon, there is much, much more to consider.\r\n\r\nLet me just list a few of the initiatives that THE DONALD has in mind based upon what I would refer to as his ELECTION MANIFESTO.\r\n<ol>\r\n 	<li><strong>THE WALL</strong>: not a Roger Waters version, but the one to be erected between the U.S. and Mexico.</li>\r\n 	<li><strong>THE AFFORDABLE HEATLH CARE ACT</strong> (aka OBAMACARE): to be repealed.</li>\r\n 	<li><strong>NAFTA</strong> (North American Free Trade Agreement): To be torn up.</li>\r\n 	<li><strong>NATO</strong> (North Atlantic Treaty Organisation): re-financed, replaced or eradicated.</li>\r\n 	<li><strong>IRAN NUCLEAR AGREEMENT</strong>: To be torn up… revoked, repealed whatever.</li>\r\n 	<li><strong>THE FED</strong>: Janet Yellen to be replaced by someone who will normalize U.S. interest rates at a faster pace. THE DONALD wants an aggressive little fecker in the FED as chairman</li>\r\n</ol>\r\nNow enjoy it while you can… but let’s take a step back and look at this short list that springs to mind.\r\n\r\nIf you think for one moment that putting these action items into play is going to fuel a continued rally in equities good luck to you. The honeymoon will be over very soon when realism sets in.\r\n\r\nTHE DONALD is NOT a career politician. He is an arrogant, will say anything to get a deal done salesman. His path forward is not laid in GOLD… far from it.\r\n\r\nI talk a lot about INTER-MARKET CORRELATIONS (PREMIUM SERVICE subscribers there is an item about this in the Training section). They are important to me to give me confidence in a move. Correlations confirm moves. They are vital to the way I trade and how I approach my day. Like my dogs (Ozzy and Aoife), I have my morning routines.\r\n\r\nBefore I take a really deep look at my charts and refresh myself with how my LIVE trades are behaving.\r\n\r\nI scan the following: -\r\n<p style=\"text-align: center;\">GOLD - /GC#0 (re AUD/USD and NZD/USD)\r\nOIL - /CL#0 (re USD/CAD)\r\nCOPPER - /HGZ2 (re AUD/USD)\r\n10 and 30 YEAR US BONDS - /ZN#0 and /ZB#0 (re USD/JPY and DXY)</p>\r\n<p style=\"text-align: center;\">S&amp;P - /ES#0 (re AUD/JPY)\r\nDXY – USD index</p>\r\n<p style=\"text-align: center;\">USD/CAD</p>\r\n<p style=\"text-align: center;\">USD/SEK – this pair is very sensitive and a great leading indicator.</p>\r\n<p style=\"text-align: center;\">AUD/USD</p>\r\n<p style=\"text-align: center;\">I will quickly scan the inverse relationships of: -</p>\r\n<p style=\"text-align: center;\">EUR/USD and USD/CHF</p>\r\n<p style=\"text-align: center;\">EUR/GBP and GBP/CHF\r\nS&amp;P and AUD/JPY</p>\r\n<p style=\"text-align: center;\">I will look at GOLD versus the AUD and CHF currencies as a whole some days as well.</p>\r\n<p style=\"text-align: center;\">Started in 2015, if OIL is up or down I look at USD/CAD, USD/NOK and sometimes\r\nUSD/MXN (of late this has been more of a THE DONALD trade) to check the movement correlation.</p>\r\nBy verifying and checking all of these and it takes me 15 minutes for a fast appraisal, this gives me the market overview I require from which to trade from.\r\n\r\nI will guarantee you right now, with the list of THE DONALD’s manifesto objectives listed above, correlations over the next 6-9 months will be more off than on.\r\n\r\nMy point here is that I strongly believe that we have continued uncertainty from a U.S. domestic perspective and it will be a riot on U.S. Foreign Policy.\r\n\r\nOver the coming weeks I will be burning the midnight oil to gather more and more opinions to counsel me further or trade against, which is the norm more often than not.\r\n\r\nThis market will stop dead in its track and reverse. This is not a super heavy oil tanker that requires 25 miles to stop and turn around…. be careful.\r\n\r\n<u> </u>\r\n\r\n<u>FOREX TRADING IN GENERAL TERMS THIS WEEK:</u>\r\n\r\nBasically keep it nimble. I do NOT trust these equity markets at these very lofty heights.\r\n\r\nBottom line just be careful. Very small position sizes if you are participating.\r\n\r\n<u>THIS COMING WEEK - THE USD MAJORS (MY THOUGHTS): </u>\r\n\r\n(In this section I have as usual kept my charts as minimalist as possible. With regards to charting in my opinion less is more!! I hope that they are clear. All readers regardless of level of experience should be able to follow my thoughts from my comments to the levels on the charts with ease)\r\n\r\nMy comments are contained on the charts.\r\n\r\nEUR/USD - Weekly Closing Price: 1.0847\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/EURUSD-D-12112016.png\"><img class=\"aligncenter size-large wp-image-8639\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/EURUSD-D-12112016-1024x477.png\" alt=\"eurusd-d-12112016\" width=\"1024\" height=\"477\" /></a>\r\n\r\nGBP/USD - Weekly Closing Price: 1.2594\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/GBPUSD-D-12112016.png\"><img class=\"aligncenter size-large wp-image-8640\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/GBPUSD-D-12112016-1024x477.png\" alt=\"gbpusd-d-12112016\" width=\"1024\" height=\"477\" /></a>\r\n\r\nAUD/USD - Weekly Closing Price: 0.7539\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/AUDUSD-D-12112016.png\"><img class=\"aligncenter size-large wp-image-8638\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/AUDUSD-D-12112016-1024x477.png\" alt=\"audusd-d-12112016\" width=\"1024\" height=\"477\" /></a>\r\n\r\nNZD/USD - Weekly Closing Price: 0.7115\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/NZDUSD-D-12112016.png\"><img class=\"aligncenter size-large wp-image-8641\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/NZDUSD-D-12112016-1024x477.png\" alt=\"nzdusd-d-12112016\" width=\"1024\" height=\"477\" /></a>\r\n\r\n&nbsp;\r\n\r\nUSD/CAD - Weekly Closing Price: 1.3538\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/USDCAD-D-12112016.png\"><img class=\"aligncenter size-large wp-image-8642\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/USDCAD-D-12112016-1024x477.png\" alt=\"usdcad-d-12112016\" width=\"1024\" height=\"477\" /></a>\r\n\r\n&nbsp;\r\n\r\nUSD/CHF - Weekly Closing Price: 0.9870\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/USDCHF-D-12112016.png\"><img class=\"aligncenter size-large wp-image-8643\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/USDCHF-D-12112016-1024x477.png\" alt=\"usdchf-d-12112016\" width=\"1024\" height=\"477\" /></a>\r\n\r\n&nbsp;\r\n\r\nUSD/JPY - Weekly Closing Price: 106.59\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/USDJPY-D-12112016.png\"><img class=\"aligncenter size-large wp-image-8644\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/USDJPY-D-12112016-1024x477.png\" alt=\"usdjpy-d-12112016\" width=\"1024\" height=\"477\" /></a>\r\n\r\n<strong> </strong>\r\n<ol start=\"5\">\r\n 	<li><strong> PREMIUM SERVICE SUBSCRIBER EXCLUSIVE CONTENT AREA:</strong></li>\r\n</ol>\r\nTRADING REVIEW:\r\n\r\nI really screwed up going into the U.S. election. I believed the market. I even tweeted during the day this is a perfect set up for buy the rumour sell the news on a HILLARY victory, let alone on THE DONALD swooping in.\r\n\r\nOn the positive side, and there is always a positive side on any news, I turned a 199 pip loss into a +694 pip gain over the past 7 trading days. From starting the month negative 300 pips I am obviously happy with the way things are progressing.\r\n\r\nAs I said last week Trading the Forex Market is a marathon not a 60 metre dash.\r\n\r\nMoving on to my CORE TRADES: -\r\n\r\nAUD/NZD: – this trade will spill over to 2017 without a doubt. I have been taking $$$ along the way but I really want a “RIP” higher to 1.0760 or above this year to give me the warm fuzzies. It is struggling at 1.0600 and it will struggle at 1.0750 if it breaks past 1.0600.\r\n\r\nIt\'s a very annoying pair at times it looks really bullish then it switches bearish very quickly.\r\n\r\nNZD/USD: – I made some adjustments last Friday to the POSITION TRADES in play. Basically I am now holding onto two short trades with the first trade with a stop at break even. I wanted to bank $$$ in between things last week and I probably could have chosen better exits but never complain about banking $$$.\r\n\r\nBREXIT: - I have my trades short cable in place. As I keep saying over and over, nothing has fundamentally changed. BREXIT is still happening; it is now just the pace of the exit which is being called into question. The more uncertainty the better as far as I am concerned. This helps short side trading. I still believe whilst below 1.2800 we are BEARISH. I also still believe that 1.2000 has a big arrow pointing to it on the walls inside most bank trading rooms. We certainly have to re-test the 1.2080 lows.\r\n\r\nThis is still a sell the rips trade.\r\n\r\n&nbsp;\r\n\r\nPREMIUM SERVICE - TRADING MOVING FORWARD INTO 2017:\r\n\r\nHere are some of my initial thoughts, ideas and goals looking forward.\r\n\r\nI believe that we will have some huge / “bigly” uncertainties in the first half of 2017 in the U.S., the EUROZONE and the continued BREXIT issues will keep us all entertained.\r\n<ul>\r\n 	<li>CORE POSITIONS with the AUD/NZD, AUD/USD, NZD/USD, GBP/USD plus the USD/CHF and EUR/USD will be developed and established.</li>\r\n 	<li>I see CENTRAL BANK POLICY DIVERGENCE finally emerging as a trade security.</li>\r\n 	<li>The JPY I feel will benefit hugely / “bigly” from THE DONALD and I will be looking to how do I fit this in.</li>\r\n 	<li>I will continue to trade FLASH, RADAR, FUNDAMENTAL and POSITION trades, but the definitions will be re-worked. BREXIT trades will be incorporated into one of the original trade styles.</li>\r\n 	<li>I am looking at a way of adding cross-rate traders into the trading pattern a little better than I did this year. I failed in this area big time and thousands of pips that were great opportunities weren’t even considered. I am looking at a way to have these as part of my daily routine.</li>\r\n</ul>\r\nADDITIONAL BROKER ACCOUNTS:\r\n\r\nAs we get nearer to the end of 2016, if any of you are considering adding an additional broker or two to keep PREMIUM SERVICE trades separate or maybe break down into TRADE STYLES, please note that the deals, offers etc. that brokers will be using to attract new clients will intensify.\r\n\r\nIf you are considering such a move please contact me so I can advise which of my brokers on my landing page are offering what.\r\n\r\nVANTAGE FX for example are charging nothing to deposit money into your broker account, whether the transfer in is by credit card or via bank transfer. My account manager David Bily is probably one of the best account managers that I have come across. VANTAGE FX also gives you an edge with 5PM eastern NZD news.\r\n\r\nI am going to part ways with HANTEC MARKETS at the end of this year as one of my INTRODUCING BROKERS. There is a small group of traders with me, with whom, I have already been in touch with and ALL bar one are going to switch into either VANTAGE FX or BLACKWELL GLOBAL.\r\n\r\nThe reason for this move is very simple fees. HANTEC have continued to charge my group transfer in fees whilst all my other INTRODUCER BROKER relationships waive these. Despite continued assurances that refunds are forthcoming, enough is enough and its bye-bye HANTEC MARKETS\r\n\r\nI have 7 LIVE broker accounts in play, myself, at the moment and I will be reducing these to 5 for the start of 2017.\r\n\r\n&nbsp;\r\n\r\nPERISCOPE (UPDATE):\r\n\r\nMy replacement microphone from Amazon is in… yippee demo’s next week\r\n\r\nPERISCOPE PROPOSAL - My proposal is initially to do a 30-minute presentation on a Monday afternoon my time about 2PM EST. I can be totally flexible with this time. If anyone wants to have a PERISCOPE session and this time is difficult please advise so I can review.<strong> </strong>\r\n\r\n&nbsp;\r\n\r\n<strong>TRADES REVIEW:</strong>\r\n\r\nThe excel spreadsheets below details current LIVE and pending LIMIT ORDER trades: -\r\n\r\n<u><a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/LIVE-TRADES-12112016.png\"><img class=\"aligncenter size-large wp-image-8632\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/LIVE-TRADES-12112016-790x1024.png\" alt=\"live-trades-12112016\" width=\"790\" height=\"1024\" /></a></u>\r\n\r\n<u> </u>\r\n\r\n<u><a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/LIMIT-ORDERS-12112016.png\"><img class=\"aligncenter size-large wp-image-8631\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/LIMIT-ORDERS-12112016-748x1024.png\" alt=\"limit-orders-12112016\" width=\"748\" height=\"1024\" /></a></u>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n<ol start=\"6\">\r\n 	<li><strong> MY CLOSING THOUGHTS:</strong></li>\r\n</ol>\r\nWell, if you survived last week you are now good to go.\r\n\r\nThe equity markets look toppy to me so be careful as we will have huge “RIPS” and “DIPS” being at so many extremes all at the same time (DOW, S&amp;P, BONDS, COPPER).\r\n\r\nBe conscious that BREXIT and the up-coming election in ITALY, could send the markets into mega confusion as protest votes are the way to go nowadays.\r\n\r\nA big rejection of constitutional reform in ITALY on 4<sup>th</sup> December could send the EUROZONE and the single currency into a tail-spin. Add a bit of BORIS JOHNSON and THE DONALD into the mix and volatility is the name of the game…. never mind “HUGE” uncertainty about Matteo Renzi the Italian Prime Minister.\r\n\r\nSo once again, the sword of Damocles hangs over the markets. I have to mention OPEC… what a joke. If they actually do something that is measurable quantifiable and accountable never mind identifiable, yes, look out of your windows and catch the squadrons of pink pigs flying overhead…. need I say anymore?\r\n\r\nAs usual…\r\n\r\nAlways remember longevity in Forex trading can only be achieved through trading with good RISK and MONEY MANAGEMENT, and above all set your position sizes in accordance with the size of your account and allow for some flexibility.\r\n\r\nTake care,\r\n\r\nScott Pickering\r\nThe Pip Accumulator\r\n<a href=\"http://weeklyfxdrivethru.com/disclaimer/\">http://weeklyfxdrivethru.com/disclaimer/\r\n</a>BLOG VERSION: #119 PREMIUM SERVICE\r\nDATE: 12<sup>th</sup> November 2016.','THE DONALD SWOOPS IN TO DC …','','publish','open','closed','','donald-swoops-dc','','','2016-11-12 13:42:18','2016-11-12 18:42:18','',0,'http://weeklyfxdrivethru.com/?post_type=member_posts&#038;p=8645',0,'member_posts','',0),(8646,1,'2016-11-12 13:42:18','2016-11-12 18:42:18','<strong> </strong>\r\n<ol>\r\n 	<li><strong> INTRODUCTION:</strong></li>\r\n</ol>\r\nJesus, Mary and Joseph… THE DONALD did it.\r\n\r\nLast Tuesday was a hell of a ride, in fact it all started long before the day of the vote. The markets had decided that HILLARY had it all sewn up on the Monday morning following the prior weekends polls.\r\n\r\nNever has there been an election in the world, that I can remember, where everyone and I mean everyone had an opinion on the outcome, based upon the shenanigans that we have ALL lived through for the past 18 months.\r\n\r\nFrom a trading perspective, I went into the U.S. election with my focus on three pairs all based around a HILLARY victory. I banked a few pips on the night but to be honest, I was totally drawn in to the TV coverage, especially as the CNN expert panel started to think the unthinkable, and realise, that the candidate that they had trashed for the previous 12 months was about to become their next President. Between trading charts, two TV channels, Tweet Deck, emails and the odd connectivity issue, my primary focus was more on the prospect of THE DONALD in The White House than anything else.\r\n\r\nI had my TRADE PLAN (A) but my TRADE PLAN (B) was not fixed in my mind. I had my price extremes list on the currency pairs that interested me, that I had issued to PREMIUM SERVICE subscribers in front of me.\r\n\r\nI missed a great opportunity to short the EUR/USD after it became apparent that THE DONALD had a more than 50/50 chance of winning.  My pre-event chart had the areas of interest to me for a EUR/USD short at 1.1240 and 1.1310.  The pair spiked and leapt up like a salmon off 1.0990 support on the possible TRUMP victory. I advised PREMIUM SERVICE subscribers that I was NOT going to short at 1.1240 but 1.1310 the next level offered a better entry. The pair just failed short 1.1310 by a few pips.\r\n\r\nIt has subsequently fallen on the “TRUMPFLATION” move and is now challenging big support at 1.0850.\r\n\r\nSo, I missed several trades on the night. As I explained over twitter in the “wee hours”, you cannot be in all trades and such a geopolitical event is NOT just the night itself but the days that follow as well. On the night, I banked a smallish number of pips, however in the days that followed my pip gains have been much, much better.\r\n\r\nMoving on…\r\n\r\nThe aftermath of the elections was relatively good for my trading as basically all of the bank analysis about what would happen should THE DONALD be victorious was bullsh*t. The FX reaction was 180 degrees away from all of the banks market interpretations that I could lay my hands on.\r\n\r\nThe week prior to the election, the PREMIUM SERVICE was negative -194 pips, (for the month) having started November at -300 pips. Now a week later for the month of November the PREMIUM SERVICE is positive by +694 pips.\r\n\r\nAs my PREMIUM SERVICE subscribers are aware, I am dubious about the present levels in equities. The relationship between prices, EPS and overall valuations has me puzzled and I think we should not get carried away. I have started building short positions with the commodity currencies and I am gathering my thoughts and ideas for trading in 2017 based upon a TRUMP White House.\r\n\r\nMore of my 2017 thoughts and trade ideas are listed later in section 5 for PREMIUM SERVICE subscribers.\r\n\r\nDo not forget…\r\n\r\nJust a quick reminder; each month, I am giving away a FREE PREMIUM SERVICE 4-week subscription. This gives the winner 100% access to the PREMIUM SERVICE website and ALL my PREMIUM SERVICE communications from my suggested trade set-ups to market commentaries and my thoughts.\r\n\r\nTo stand a chance of being the next subscription winner, you need to subscribe to receive this free blog via my website <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a><strong>  </strong>\r\n\r\nYou are automatically entered into a free monthly draw, once you’ve subscribed. Each month one lucky blog subscriber will receive a free subscription to the PREMIUM SERVICE.\r\n\r\n<strong> </strong>\r\n<ol start=\"2\">\r\n 	<li><strong> THE PREMIUM SERVICE:</strong></li>\r\n</ol>\r\n<u>WHAT IS THE PREMIUM SERVICE:</u>\r\n\r\nThe PREMIUM SERVICE is a subscriber, fee based trade set-up option for Forex traders regardless of experience or background. I provide traders suggested trades, and some market commentary related to open trades or factors within the overall market that have my interest.\r\n\r\nFull details of the PREMIUM SERVICE and the various trade styles plus how suggested trade set-ups are communicated can be found on my website landing page at <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a> by selecting THE PREMIUM SERVICE tab.\r\n\r\nAdditional information can be found by clicking TESTIMONIALS, PART-TIME TRADERS and FX PROMOTIONS tabs. To subscribe to THE PREMIUM SERVICE you will require a credit card.\r\n\r\n<u>PREMIUM SERVICE SUBSCRIPTION COSTS:</u>\r\n\r\nDetails of features and benefits of a PREMIUM SERVICE subscription can be found on my website landing page at <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a> under the dropdown tab at the top of the page entitled HISTORY &amp; PERFORMANCE OF THE PREMIUM SERVICE. To subscribe follow the SUBSCRIBE HERE tab.\r\n\r\nPREMIUM SERVICE subscription costs are as follows: -\r\n\r\nCAD$240.00 - 4 weeks (1 month)\r\nCAD$500.00 - 10 weeks (3 months)\r\nCAD$750.00 - 20 weeks (6 months)\r\nCAD$1,250.00 - 40 weeks (12 months)\r\n<u>PLUS</u>: Existing PLATINUM MEMBERS (annual subscribers) can re-subscribe for a further 12 months for CAD$1,000.00\r\n\r\nI work for about 40 weeks a year. Subscriptions are based on 40 published blogs of the WEEKLY FX DRIVE THRU per year. For the remaining 10 weeks, I am around tweeting, posting and managing existing LIVE trades, although my market activity is reduced.\r\n\r\n<u> </u>\r\n\r\n<u>PREMIUM SERVICE PERFORMANCE:</u>\r\n\r\nPRESENT AND HISTORICAL QUICK PREMIUM SERVICE STATS:\r\n\r\nTHIS MONTH SO FAR: +694 pips\r\nYEAR TO DATE TOTAL: +12,312 pips\r\n\r\nNET PIPS 2015:       +10,686 pips\r\nNET PIPS 2014:       +11,209 pips\r\n\r\nBelow, for additional information, I show the net position of THE PREMIUM SERVICE performance for 2016. On my website landing page <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a> under the heading “HISTORY &amp; PERFORMANCE” there are more reports providing more historic trading information.\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/PS-PERF-2016-TO-DATE-12112016.png\"><img class=\"aligncenter size-large wp-image-8626\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/PS-PERF-2016-TO-DATE-12112016-944x1024.png\" alt=\"ps-perf-2016-to-date-12112016\" width=\"944\" height=\"1024\" /></a>\r\n\r\n&nbsp;\r\n\r\nPART-TIME TRADER (POSITION) TRADES:\r\n\r\nAt the end of 2015, having listened to many of my subscribers and from a market survey that I undertook, I wanted to try and address those Forex traders who would consider themselves to be a PART-TIME trader for whatever reason.\r\n\r\nPART-TIME FOREX TRADERS fall between a rock and a hard place.  It is very, very difficult with limited access to computers due to full-time employment or limited access to a computer due time constraints, to have a voice when trading.\r\n\r\nNow more than ever you really need to be 24 x 5 with your devices to keep on top of things.\r\n\r\nI wanted to try and find a trading solution for PART-TIME TRADERS.\r\n\r\nLet me be the first to say, my solution is not 100% perfect. You can put lipstick on a pig but it’s still a pig, if you understand me. This is not an easy fix. But I wanted to try, and to be honest, timing in Forex is everything.\r\n\r\nMy initial solution, and it is on-going, has been my savior to my trading performance this year so far, with just 6/7 weeks left to go.\r\n\r\nI introduced PART-TIME TRADER TRADES now called POSITION TRADES at the start of 2016. This trading style is based upon my FUNDAMENTAL longer-term market views. These trades are LIMIT ORDER entry trades with very wide stops based on ATR (Average True Range) limits, mostly weekly limits, but sometimes monthly limits, using Fibonacci levels and trend lines to set stops and limits.\r\n\r\nThey have been, due to the way that the Forex market has been held to ransom inside tight trading ranges for most of the year, creating very choppy market conditions very successful.\r\n\r\nI am NOT saying that these trades and the way I trade them because I still have to assess trades all the time and close off trades early etc.… are the “B all and end all” holy grail for PART-TIME TRADERS but they are a step in the right direction.\r\n\r\nThese trades also suit FULL-TIME traders who want to take a longer-term perspective.\r\n\r\nHow successful have they been?\r\n\r\nHow do I measure their success?\r\n\r\nVery simply, when launching these trades, a year ago I created a page on my website landing page at <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a> called PART TIME FOREX TRADERS it is part of my drop down menu at the top of my landing page.\r\n\r\nI tried my best to define my target audience and I posted a cash flow projection, it is still there today and I have subsequently added quarterly reviews during the year.\r\n\r\nBelow is the initial cash flow projection that was posted the first week of January 2016.\r\n\r\n&nbsp;\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/POS-TRADE-PROJ-2016.png\"><img class=\"aligncenter size-large wp-image-8627\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/POS-TRADE-PROJ-2016-818x1024.png\" alt=\"pos-trade-proj-2016\" width=\"818\" height=\"1024\" /></a>\r\n\r\n&nbsp;\r\n\r\nI am not going to spend a great deal of time on this. Basically for the purpose of this section of the DRIVE THRU blog will focus solely on MINI LOT traders.\r\n\r\nMy suggestion on day 1, was to open a broker account with USD$7,500. At the end of the year based only on single lot trades after costs to trade and my PREMIUM SERVICE annual subscription my goal was to grow the broker account from USD$7,500 to $15,052.50 by the end of 2016.\r\n\r\n<strong><u>That would be to double your initial investment after ALL costs were taken into consideration</u></strong>\r\n\r\nHow have I faired with this quest?\r\n\r\nBelow is the latest spreadsheet update post I made to my website on the 31<sup>st</sup> October 2016. On my website <a href=\"http://www.weeklyfxdivethru.com\">www.weeklyfxdivethru.com</a> landing page under the heading “PART TIME FOREX TRADERS” all my updates throughout 2016 can be found together with more information and background to these trade set ups.\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/POS-PROJ-2016-Q3.png\"><img class=\"aligncenter size-large wp-image-8630\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/POS-PROJ-2016-Q3-1024x806.png\" alt=\"pos-proj-2016-q3\" width=\"1024\" height=\"806\" /></a>\r\n\r\nAt the end of last month, the cumulative position now shows that the original account with USD$7,500 now stands at net USD$13,868.00.\r\n\r\nThere is just under USD$1,200 in income left to achieve (1,200 pips over the months of November and December). It is a tall order.\r\n\r\nWhat about my macro thoughts on the performance of the POSITION TRADES?\r\n\r\nMy thoughts are very straightforward: -\r\n<ol>\r\n 	<li>This (2016) has been an extremely difficult year to trade in.</li>\r\n 	<li>My approach to trading this year has been almost a 180 degree turn on 2015 trading.</li>\r\n 	<li>Features and factors that prompted me to start this trading style, namely central bank diversification never became as big of an issue as I thought it would have been. I had to re-focus and adapt the POSITION trade set ups to compensate for this.</li>\r\n 	<li>This review of style, manifested itself in the facts that my projection was for just 90 trades in the year. So far I have completed 146 trades (more than 50% more than anticipated). My profits per trade are less and my losses per trade are well under projection.</li>\r\n 	<li>I am, given the above points 1-4, delighted to have achieved this performance so far.</li>\r\n 	<li>Have I delivered what I set out for PART-TIME traders? Not 100%. I have delivered profits but the timings for closing of trades is still an issue. I cannot let losses grow or profits diminish due to a trading style. I have to 100% trade the price action in the market as I see it.</li>\r\n 	<li>What about 2017?\r\n\r\nI will continue this trading style next year, but I will review my other trading styles. It is impossible to predict what type of a trading year 2017 will be, apart from the fact it contains 365 days and that there will always be a forex market every day the market is open.</li>\r\n</ol>\r\nIf you would like additional supporting data or detail about the performance and the tabs on my website landing page at <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a> do not answer your questions, contact me directly and I will supply the trading data you require. There are NO secrets. There are many, many spreadsheets detailing performance trade by trade and by trade and by trading style, way too many to place in this blog. If you are interested in the PREMIUM SERVICE and want more information, all you have to do is ask.\r\n\r\n<strong> </strong>\r\n<ol start=\"3\">\r\n 	<li><strong> LOOKING BACKWARDS: THE FX MARKET PLACE</strong></li>\r\n</ol>\r\n<strong>LAST WEEK’S FOREX and ECONOMIC NEWS – MY VIEWS:</strong>\r\n\r\nU.S. PRESIDENTIAL ELECTION:\r\n\r\nAs I stated at the beginning of the blog THE DONALD (#45) is the next U.S. President.\r\n\r\nThe market reaction was opposite to what all the highly paid no skin in the market bank analysts had predicted, as soon as the markets realized that a TRUMP Presidency means SPEND, SPEND, SPEND and SPEND some more. In the U.S. with the great divide between Wall Street and Main Street firmly in situ (and those differences will be cemented in even more with THE DONALD in place at The White House), it was really hard to imagine that around 2.00AM EST on election night, the DOW was under a LIMIT DOWN and negative 830 points. Yet at the open it rallied to all-time highs.\r\n\r\nSince THE DONALD became President-elect, copper is on “Walter White” meth’s and the Bonds are dropping like a series of lead balloons across the financial centres. Gold is falling and Oil is starting to crater, regardless of the now laughable OPEC production cut to be formally written into the files of the “pointless and pathetic” at the end of this month.\r\n\r\nYup… welcome to the new world order; TRUMPISM and TRUMPFLATION is here!\r\n\r\nFrom the markets perspective, where money is concerned who gives a rats’ ass about who or what is President. The view is greater freedoms, less regulation, possible repeal of the Dodd-Frank legislation… happy days are here again.\r\n\r\n<strong> </strong>\r\n<ol start=\"4\">\r\n 	<li><strong> LOOKING FORWARDS:</strong></li>\r\n</ol>\r\n<strong>THIS WEEK’S FOREX and ECONOMIC NEWS – MY VIEWS:</strong>\r\n\r\n<u>THIS WEEK’S FOREX NEWS THAT INTERESTS ME:</u>\r\n\r\n(There are many more news items related to the Forex Market other than the ones listed below. These are the ones that interest me. You can go to <a href=\"http://www.forexfactory.com\">www.forexfactory.com</a> and <a href=\"http://www.tradingeconomics.com\">www.tradingeconomics.com</a> for a more comprehensive lists of all news events that are Forex related).\r\n\r\nSUNDAY: N/A.\r\n\r\nMONDAY: GBP – Inflation Report Hearings.\r\nMONDAY: NZD – Retail Sales.\r\nMONDAY: AUD – Monetary Policy Meeting Minutes.\r\n\r\nTUESDAY: GBP - CPi.\r\nTUESDAY: NZD – GDT Auction Results.\r\n\r\nWEDNESDAY: GBP – Jobs Data.\r\nWEDNESDAY: USD – PPi.\r\nWEDNESDAY: NZD – PPi.\r\nWEDNESDAY: AUD – Jobs Data.\r\n\r\nTHURSDAY: GBP – Retail Sales.\r\nTHURSDAY: USD – CPi, Core CPi, Philly FED Manufacturing Index.\r\n\r\nFRIDAY: CAD – Core CPi.\r\n\r\nA nice mix of high level data this week. Our attentions will be starting to shift once again to the FED, with the will she or wont she raise rates discussion entering all the inter-market chat rooms once again.\r\n\r\nIf she wants job security our little FED ditherer will raise rates in December as expected by the markets, who, are now allegedly 85% on board with a FED increase in December, and next year with TRUMPFLATION on the cards two/three further rises should NOT be ruled out.\r\n\r\nI am still bearish the cable and I am sitting in two short GBP/USD trades that are out of the money…argh!! I am therefore hoping for Theresa May or better still my mate Boris to say something bad this weekend regarding the BREXIT that causes cable to slip below 1.1500 preferably…. I live in hope!\r\n\r\nWe must also bear in mind that the BREXIT will continue to offer volatility moving forward given the high court ruling on article 50.  I would not be surprised to see EUROZONE players getting involved in the media sound-bytes, plus we are now in the same month as the alleged proposed OPEC OIL production cut (he laughs as he types!!), this should also start to weigh in on the markets.\r\n\r\n<u> </u>\r\n\r\nMY THOUGHTS ON “THE DONALDS” FALLOUT:\r\n\r\nNow before we all start popping Krug as if it were Dom Pérignon, there is much, much more to consider.\r\n\r\nLet me just list a few of the initiatives that THE DONALD has in mind based upon what I would refer to as his ELECTION MANIFESTO.\r\n<ol>\r\n 	<li><strong>THE WALL</strong>: not a Roger Waters version, but the one to be erected between the U.S. and Mexico.</li>\r\n 	<li><strong>THE AFFORDABLE HEATLH CARE ACT</strong> (aka OBAMACARE): to be repealed.</li>\r\n 	<li><strong>NAFTA</strong> (North American Free Trade Agreement): To be torn up.</li>\r\n 	<li><strong>NATO</strong> (North Atlantic Treaty Organisation): re-financed, replaced or eradicated.</li>\r\n 	<li><strong>IRAN NUCLEAR AGREEMENT</strong>: To be torn up… revoked, repealed whatever.</li>\r\n 	<li><strong>THE FED</strong>: Janet Yellen to be replaced by someone who will normalize U.S. interest rates at a faster pace. THE DONALD wants an aggressive little fecker in the FED as chairman</li>\r\n</ol>\r\nNow enjoy it while you can… but let’s take a step back and look at this short list that springs to mind.\r\n\r\nIf you think for one moment that putting these action items into play is going to fuel a continued rally in equities good luck to you. The honeymoon will be over very soon when realism sets in.\r\n\r\nTHE DONALD is NOT a career politician. He is an arrogant, will say anything to get a deal done salesman. His path forward is not laid in GOLD… far from it.\r\n\r\nI talk a lot about INTER-MARKET CORRELATIONS (PREMIUM SERVICE subscribers there is an item about this in the Training section). They are important to me to give me confidence in a move. Correlations confirm moves. They are vital to the way I trade and how I approach my day. Like my dogs (Ozzy and Aoife), I have my morning routines.\r\n\r\nBefore I take a really deep look at my charts and refresh myself with how my LIVE trades are behaving.\r\n\r\nI scan the following: -\r\n<p style=\"text-align: center;\">GOLD - /GC#0 (re AUD/USD and NZD/USD)\r\nOIL - /CL#0 (re USD/CAD)\r\nCOPPER - /HGZ2 (re AUD/USD)\r\n10 and 30 YEAR US BONDS - /ZN#0 and /ZB#0 (re USD/JPY and DXY)</p>\r\n<p style=\"text-align: center;\">S&amp;P - /ES#0 (re AUD/JPY)\r\nDXY – USD index</p>\r\n<p style=\"text-align: center;\">USD/CAD</p>\r\n<p style=\"text-align: center;\">USD/SEK – this pair is very sensitive and a great leading indicator.</p>\r\n<p style=\"text-align: center;\">AUD/USD</p>\r\n<p style=\"text-align: center;\">I will quickly scan the inverse relationships of: -</p>\r\n<p style=\"text-align: center;\">EUR/USD and USD/CHF</p>\r\n<p style=\"text-align: center;\">EUR/GBP and GBP/CHF\r\nS&amp;P and AUD/JPY</p>\r\n<p style=\"text-align: center;\">I will look at GOLD versus the AUD and CHF currencies as a whole some days as well.</p>\r\n<p style=\"text-align: center;\">Started in 2015, if OIL is up or down I look at USD/CAD, USD/NOK and sometimes\r\nUSD/MXN (of late this has been more of a THE DONALD trade) to check the movement correlation.</p>\r\nBy verifying and checking all of these and it takes me 15 minutes for a fast appraisal, this gives me the market overview I require from which to trade from.\r\n\r\nI will guarantee you right now, with the list of THE DONALD’s manifesto objectives listed above, correlations over the next 6-9 months will be more off than on.\r\n\r\nMy point here is that I strongly believe that we have continued uncertainty from a U.S. domestic perspective and it will be a riot on U.S. Foreign Policy.\r\n\r\nOver the coming weeks I will be burning the midnight oil to gather more and more opinions to counsel me further or trade against, which is the norm more often than not.\r\n\r\nThis market will stop dead in its track and reverse. This is not a super heavy oil tanker that requires 25 miles to stop and turn around…. be careful.\r\n\r\n<u> </u>\r\n\r\n<u>FOREX TRADING IN GENERAL TERMS THIS WEEK:</u>\r\n\r\nBasically keep it nimble. I do NOT trust these equity markets at these very lofty heights.\r\n\r\nBottom line just be careful. Very small position sizes if you are participating.\r\n\r\n<u>THIS COMING WEEK - THE USD MAJORS (MY THOUGHTS): </u>\r\n\r\n(In this section I have as usual kept my charts as minimalist as possible. With regards to charting in my opinion less is more!! I hope that they are clear. All readers regardless of level of experience should be able to follow my thoughts from my comments to the levels on the charts with ease)\r\n\r\nMy comments are contained on the charts.\r\n\r\nEUR/USD - Weekly Closing Price: 1.0847\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/EURUSD-D-12112016.png\"><img class=\"aligncenter size-large wp-image-8639\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/EURUSD-D-12112016-1024x477.png\" alt=\"eurusd-d-12112016\" width=\"1024\" height=\"477\" /></a>\r\n\r\nGBP/USD - Weekly Closing Price: 1.2594\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/GBPUSD-D-12112016.png\"><img class=\"aligncenter size-large wp-image-8640\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/GBPUSD-D-12112016-1024x477.png\" alt=\"gbpusd-d-12112016\" width=\"1024\" height=\"477\" /></a>\r\n\r\nAUD/USD - Weekly Closing Price: 0.7539\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/AUDUSD-D-12112016.png\"><img class=\"aligncenter size-large wp-image-8638\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/AUDUSD-D-12112016-1024x477.png\" alt=\"audusd-d-12112016\" width=\"1024\" height=\"477\" /></a>\r\n\r\nNZD/USD - Weekly Closing Price: 0.7115\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/NZDUSD-D-12112016.png\"><img class=\"aligncenter size-large wp-image-8641\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/NZDUSD-D-12112016-1024x477.png\" alt=\"nzdusd-d-12112016\" width=\"1024\" height=\"477\" /></a>\r\n\r\n&nbsp;\r\n\r\nUSD/CAD - Weekly Closing Price: 1.3538\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/USDCAD-D-12112016.png\"><img class=\"aligncenter size-large wp-image-8642\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/USDCAD-D-12112016-1024x477.png\" alt=\"usdcad-d-12112016\" width=\"1024\" height=\"477\" /></a>\r\n\r\n&nbsp;\r\n\r\nUSD/CHF - Weekly Closing Price: 0.9870\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/USDCHF-D-12112016.png\"><img class=\"aligncenter size-large wp-image-8643\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/USDCHF-D-12112016-1024x477.png\" alt=\"usdchf-d-12112016\" width=\"1024\" height=\"477\" /></a>\r\n\r\n&nbsp;\r\n\r\nUSD/JPY - Weekly Closing Price: 106.59\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/USDJPY-D-12112016.png\"><img class=\"aligncenter size-large wp-image-8644\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/USDJPY-D-12112016-1024x477.png\" alt=\"usdjpy-d-12112016\" width=\"1024\" height=\"477\" /></a>\r\n\r\n<strong> </strong>\r\n<ol start=\"5\">\r\n 	<li><strong> PREMIUM SERVICE SUBSCRIBER EXCLUSIVE CONTENT AREA:</strong></li>\r\n</ol>\r\nTRADING REVIEW:\r\n\r\nI really screwed up going into the U.S. election. I believed the market. I even tweeted during the day this is a perfect set up for buy the rumour sell the news on a HILLARY victory, let alone on THE DONALD swooping in.\r\n\r\nOn the positive side, and there is always a positive side on any news, I turned a 199 pip loss into a +694 pip gain over the past 7 trading days. From starting the month negative 300 pips I am obviously happy with the way things are progressing.\r\n\r\nAs I said last week Trading the Forex Market is a marathon not a 60 metre dash.\r\n\r\nMoving on to my CORE TRADES: -\r\n\r\nAUD/NZD: – this trade will spill over to 2017 without a doubt. I have been taking $$$ along the way but I really want a “RIP” higher to 1.0760 or above this year to give me the warm fuzzies. It is struggling at 1.0600 and it will struggle at 1.0750 if it breaks past 1.0600.\r\n\r\nIt\'s a very annoying pair at times it looks really bullish then it switches bearish very quickly.\r\n\r\nNZD/USD: – I made some adjustments last Friday to the POSITION TRADES in play. Basically I am now holding onto two short trades with the first trade with a stop at break even. I wanted to bank $$$ in between things last week and I probably could have chosen better exits but never complain about banking $$$.\r\n\r\nBREXIT: - I have my trades short cable in place. As I keep saying over and over, nothing has fundamentally changed. BREXIT is still happening; it is now just the pace of the exit which is being called into question. The more uncertainty the better as far as I am concerned. This helps short side trading. I still believe whilst below 1.2800 we are BEARISH. I also still believe that 1.2000 has a big arrow pointing to it on the walls inside most bank trading rooms. We certainly have to re-test the 1.2080 lows.\r\n\r\nThis is still a sell the rips trade.\r\n\r\n&nbsp;\r\n\r\nPREMIUM SERVICE - TRADING MOVING FORWARD INTO 2017:\r\n\r\nHere are some of my initial thoughts, ideas and goals looking forward.\r\n\r\nI believe that we will have some huge / “bigly” uncertainties in the first half of 2017 in the U.S., the EUROZONE and the continued BREXIT issues will keep us all entertained.\r\n<ul>\r\n 	<li>CORE POSITIONS with the AUD/NZD, AUD/USD, NZD/USD, GBP/USD plus the USD/CHF and EUR/USD will be developed and established.</li>\r\n 	<li>I see CENTRAL BANK POLICY DIVERGENCE finally emerging as a trade security.</li>\r\n 	<li>The JPY I feel will benefit hugely / “bigly” from THE DONALD and I will be looking to how do I fit this in.</li>\r\n 	<li>I will continue to trade FLASH, RADAR, FUNDAMENTAL and POSITION trades, but the definitions will be re-worked. BREXIT trades will be incorporated into one of the original trade styles.</li>\r\n 	<li>I am looking at a way of adding cross-rate traders into the trading pattern a little better than I did this year. I failed in this area big time and thousands of pips that were great opportunities weren’t even considered. I am looking at a way to have these as part of my daily routine.</li>\r\n</ul>\r\nADDITIONAL BROKER ACCOUNTS:\r\n\r\nAs we get nearer to the end of 2016, if any of you are considering adding an additional broker or two to keep PREMIUM SERVICE trades separate or maybe break down into TRADE STYLES, please note that the deals, offers etc. that brokers will be using to attract new clients will intensify.\r\n\r\nIf you are considering such a move please contact me so I can advise which of my brokers on my landing page are offering what.\r\n\r\nVANTAGE FX for example are charging nothing to deposit money into your broker account, whether the transfer in is by credit card or via bank transfer. My account manager David Bily is probably one of the best account managers that I have come across. VANTAGE FX also gives you an edge with 5PM eastern NZD news.\r\n\r\nI am going to part ways with HANTEC MARKETS at the end of this year as one of my INTRODUCING BROKERS. There is a small group of traders with me, with whom, I have already been in touch with and ALL bar one are going to switch into either VANTAGE FX or BLACKWELL GLOBAL.\r\n\r\nThe reason for this move is very simple fees. HANTEC have continued to charge my group transfer in fees whilst all my other INTRODUCER BROKER relationships waive these. Despite continued assurances that refunds are forthcoming, enough is enough and its bye-bye HANTEC MARKETS\r\n\r\nI have 7 LIVE broker accounts in play, myself, at the moment and I will be reducing these to 5 for the start of 2017.\r\n\r\n&nbsp;\r\n\r\nPERISCOPE (UPDATE):\r\n\r\nMy replacement microphone from Amazon is in… yippee demo’s next week\r\n\r\nPERISCOPE PROPOSAL - My proposal is initially to do a 30-minute presentation on a Monday afternoon my time about 2PM EST. I can be totally flexible with this time. If anyone wants to have a PERISCOPE session and this time is difficult please advise so I can review.<strong> </strong>\r\n\r\n&nbsp;\r\n\r\n<strong>TRADES REVIEW:</strong>\r\n\r\nThe excel spreadsheets below details current LIVE and pending LIMIT ORDER trades: -\r\n\r\n<u><a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/LIVE-TRADES-12112016.png\"><img class=\"aligncenter size-large wp-image-8632\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/LIVE-TRADES-12112016-790x1024.png\" alt=\"live-trades-12112016\" width=\"790\" height=\"1024\" /></a></u>\r\n\r\n<u> </u>\r\n\r\n<u><a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/LIMIT-ORDERS-12112016.png\"><img class=\"aligncenter size-large wp-image-8631\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/LIMIT-ORDERS-12112016-748x1024.png\" alt=\"limit-orders-12112016\" width=\"748\" height=\"1024\" /></a></u>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n<ol start=\"6\">\r\n 	<li><strong> MY CLOSING THOUGHTS:</strong></li>\r\n</ol>\r\nWell, if you survived last week you are now good to go.\r\n\r\nThe equity markets look toppy to me so be careful as we will have huge “RIPS” and “DIPS” being at so many extremes all at the same time (DOW, S&amp;P, BONDS, COPPER).\r\n\r\nBe conscious that BREXIT and the up-coming election in ITALY, could send the markets into mega confusion as protest votes are the way to go nowadays.\r\n\r\nA big rejection of constitutional reform in ITALY on 4<sup>th</sup> December could send the EUROZONE and the single currency into a tail-spin. Add a bit of BORIS JOHNSON and THE DONALD into the mix and volatility is the name of the game…. never mind “HUGE” uncertainty about Matteo Renzi the Italian Prime Minister.\r\n\r\nSo once again, the sword of Damocles hangs over the markets. I have to mention OPEC… what a joke. If they actually do something that is measurable quantifiable and accountable never mind identifiable, yes, look out of your windows and catch the squadrons of pink pigs flying overhead…. need I say anymore?\r\n\r\nAs usual…\r\n\r\nAlways remember longevity in Forex trading can only be achieved through trading with good RISK and MONEY MANAGEMENT, and above all set your position sizes in accordance with the size of your account and allow for some flexibility.\r\n\r\nTake care,\r\n\r\nScott Pickering\r\nThe Pip Accumulator\r\n<a href=\"http://weeklyfxdrivethru.com/disclaimer/\">http://weeklyfxdrivethru.com/disclaimer/\r\n</a>BLOG VERSION: #119 PREMIUM SERVICE\r\nDATE: 12<sup>th</sup> November 2016.','THE DONALD SWOOPS IN TO DC …','','inherit','closed','closed','','8645-revision-v1','','','2016-11-12 13:42:18','2016-11-12 18:42:18','',8645,'http://weeklyfxdrivethru.com/8645-revision-v1/',0,'revision','',0),(8647,1,'2016-11-12 14:09:50','2016-11-12 19:09:50','&nbsp;\r\n<ol>\r\n 	<li><strong> INTRODUCTION:</strong></li>\r\n</ol>\r\nJesus, Mary and Joseph… THE DONALD did it.\r\n\r\nLast Tuesday was a hell of a ride, in fact it all started long before the day of the vote. The markets had decided that HILLARY had it all sewn up on the Monday morning following the prior weekends polls.\r\n\r\nNever has there been an election in the world, that I can remember, where everyone and I mean everyone had an opinion on the outcome, based upon the shenanigans that we have ALL lived through for the past 18 months.\r\n\r\nFrom a trading perspective, I went into the U.S. election with my focus on three pairs all based around a HILLARY victory. I banked a few pips on the night but to be honest, I was totally drawn in to the TV coverage, especially as the CNN expert panel started to think the unthinkable, and realise, that the candidate that they had trashed for the previous 12 months was about to become their next President. Between trading charts, two TV channels, Tweet Deck, emails and the odd connectivity issue, my primary focus was more on the prospect of THE DONALD in The White House than anything else.\r\n\r\nI had my TRADE PLAN (A) but my TRADE PLAN (B) was not fixed in my mind. I had my price extremes list on the currency pairs that interested me, that I had issued to PREMIUM SERVICE subscribers in front of me.\r\n\r\nI missed a great opportunity to short the EUR/USD after it became apparent that THE DONALD had a more than 50/50 chance of winning.  My pre-event chart had the areas of interest to me for a EUR/USD short at 1.1240 and 1.1310.  The pair spiked and leapt up like a salmon off 1.0990 support on the possible TRUMP victory. I advised PREMIUM SERVICE subscribers that I was NOT going to short at 1.1240 but 1.1310 the next level offered a better entry. The pair just failed short 1.1310 by a few pips.\r\n\r\nIt has subsequently fallen on the “TRUMPFLATION” move and is now challenging big support at 1.0850.\r\n\r\nSo, I missed several trades on the night. As I explained over twitter in the “wee hours”, you cannot be in all trades and such a geopolitical event is NOT just the night itself but the days that follow as well. On the night, I banked a smallish number of pips, however in the days that followed my pip gains have been much, much better.\r\n\r\nMoving on…\r\n\r\nThe aftermath of the elections was relatively good for my trading as basically all of the bank analysis about what would happen should THE DONALD be victorious was bullsh*t. The FX reaction was 180 degrees away from all of the banks market interpretations that I could lay my hands on.\r\n\r\nThe week prior to the election, the PREMIUM SERVICE was negative -194 pips, (for the month) having started November at -300 pips. Now a week later for the month of November the PREMIUM SERVICE is positive by +694 pips.\r\n\r\nAs my PREMIUM SERVICE subscribers are aware, I am dubious about the present levels in equities. The relationship between prices, EPS and overall valuations has me puzzled and I think we should not get carried away. I have started building short positions with the commodity currencies and I am gathering my thoughts and ideas for trading in 2017 based upon a TRUMP White House.\r\n\r\nMore of my 2017 thoughts and trade ideas are listed later in section 5 for PREMIUM SERVICE subscribers.\r\n\r\nDo not forget…\r\n\r\nJust a quick reminder; each month, I am giving away a FREE PREMIUM SERVICE 4-week subscription. This gives the winner 100% access to the PREMIUM SERVICE website and ALL my PREMIUM SERVICE communications from my suggested trade set-ups to market commentaries and my thoughts.\r\n\r\nTo stand a chance of being the next subscription winner, you need to subscribe to receive this free blog via my website <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a><strong> </strong>\r\n\r\n<strong> </strong>You are automatically entered into a free monthly draw, once you’ve subscribed. Each month one lucky blog subscriber will receive a free subscription to the PREMIUM SERVICE.\r\n<strong> </strong>\r\n<ol start=\"2\">\r\n 	<li><strong> THE PREMIUM SERVICE:</strong></li>\r\n</ol>\r\n<u>WHAT IS THE PREMIUM SERVICE:</u>\r\n\r\nThe PREMIUM SERVICE is a subscriber, fee based trade set-up option for Forex traders regardless of experience or background. I provide traders suggested trades, and some market commentary related to open trades or factors within the overall market that have my interest.\r\n\r\nFull details of the PREMIUM SERVICE and the various trade styles plus how suggested trade set-ups are communicated can be found on my website landing page at <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a> by selecting THE PREMIUM SERVICE tab.\r\n\r\nAdditional information can be found by clicking TESTIMONIALS, PART-TIME TRADERS and FX PROMOTIONS tabs. To subscribe to THE PREMIUM SERVICE you will require a credit card.\r\n\r\n<u> </u>\r\n\r\n<u>PREMIUM SERVICE SUBSCRIPTION COSTS:</u>\r\n\r\nDetails of features and benefits of a PREMIUM SERVICE subscription can be found on my website landing page at <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a> under the dropdown tab at the top of the page entitled HISTORY &amp; PERFORMANCE OF THE PREMIUM SERVICE. To subscribe follow the SUBSCRIBE HERE tab.\r\n<p style=\"text-align: center;\">PREMIUM SERVICE subscription costs are as follows: -</p>\r\n<p style=\"text-align: center;\">CAD$240.00 - 4 weeks (1 month)\r\nCAD$500.00 - 10 weeks (3 months)\r\nCAD$750.00 - 20 weeks (6 months)\r\nCAD$1,250.00 - 40 weeks (12 months)\r\n<u>PLUS</u>: Existing PLATINUM MEMBERS (annual subscribers) can re-subscribe for a further 12 months for CAD$1,000.00</p>\r\nI work for about 40 weeks a year. Subscriptions are based on 40 published blogs of the WEEKLY FX DRIVE THRU per year. For the remaining 10 weeks, I am around tweeting, posting and managing existing LIVE trades, although my market activity is reduced.\r\n<p style=\"text-align: center;\"><u>PREMIUM SERVICE PERFORMANCE:</u></p>\r\n<p style=\"text-align: center;\">PRESENT AND HISTORICAL QUICK PREMIUM SERVICE STATS:</p>\r\nTHIS MONTH SO FAR: +694 pips\r\nYEAR TO DATE TOTAL: +12,312 pips\r\n<p style=\"text-align: center;\">NET PIPS 2015:       +10,686 pips\r\nNET PIPS 2014:       +11,209 pips</p>\r\n<p style=\"text-align: center;\">Below, for additional information, I show the net position of THE PREMIUM SERVICE performance for 2016. On my website landing page <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a> under the heading “HISTORY &amp; PERFORMANCE” there are more reports providing more historic trading information.</p>\r\n&nbsp;\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/PS-PERF-2016-TO-DATE-12112016.png\"><img class=\"aligncenter size-large wp-image-8626\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/PS-PERF-2016-TO-DATE-12112016-944x1024.png\" alt=\"ps-perf-2016-to-date-12112016\" width=\"944\" height=\"1024\" /></a>\r\n\r\n&nbsp;\r\n\r\nPART-TIME TRADER (POSITION) TRADES:\r\n\r\nAt the end of 2015, having listened to many of my subscribers and from a market survey that I undertook, I wanted to try and address those Forex traders who would consider themselves to be a PART-TIME trader for whatever reason.\r\n\r\nPART-TIME FOREX TRADERS fall between a rock and a hard place.  It is very, very difficult with limited access to computers due to full-time employment or limited access to a computer due time constraints, to have a voice when trading.\r\n\r\nNow more than ever you really need to be 24 x 5 with your devices to keep on top of things.\r\n\r\nI wanted to try and find a trading solution for PART-TIME TRADERS.\r\n\r\nLet me be the first to say, my solution is not 100% perfect. You can put lipstick on a pig but it’s still a pig, if you understand me. This is not an easy fix. But I wanted to try, and to be honest, timing in Forex is everything.\r\n\r\nMy initial solution, and it is on-going, has been my savior to my trading performance this year so far, with just 6/7 weeks left to go.\r\n\r\nI introduced PART-TIME TRADER TRADES now called POSITION TRADES at the start of 2016. This trading style is based upon my FUNDAMENTAL longer-term market views. These trades are LIMIT ORDER entry trades with very wide stops based on ATR (Average True Range) limits, mostly weekly limits, but sometimes monthly limits, using Fibonacci levels and trend lines to set stops and limits.\r\n\r\nThey have been, due to the way that the Forex market has been held to ransom inside tight trading ranges for most of the year, creating very choppy market conditions very successful.\r\n\r\nI am NOT saying that these trades and the way I trade them because I still have to assess trades all the time and close off trades early etc.… are the “B all and end all” holy grail for PART-TIME TRADERS but they are a step in the right direction.\r\n\r\nThese trades also suit FULL-TIME traders who want to take a longer-term perspective.\r\n\r\nHow successful have they been?\r\n\r\nHow do I measure their success?\r\n\r\nVery simply, when launching these trades, a year ago I created a page on my website landing page at <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a> called PART TIME FOREX TRADERS it is part of my drop down menu at the top of my landing page.\r\n\r\nI tried my best to define my target audience and I posted a cash flow projection, it is still there today and I have subsequently added quarterly reviews during the year.\r\n\r\nBelow is the initial cash flow projection that was posted the first week of January 2016.\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/POS-TRADE-PROJ-2016.png\"><img class=\"aligncenter size-large wp-image-8627\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/POS-TRADE-PROJ-2016-818x1024.png\" alt=\"pos-trade-proj-2016\" width=\"818\" height=\"1024\" /></a>\r\n\r\n&nbsp;\r\n\r\nI am not going to spend a great deal of time on this. Basically for the purpose of this section of the DRIVE THRU blog will focus solely on MINI LOT traders.\r\n\r\nMy suggestion on day 1, was to open a broker account with USD$7,500. At the end of the year based only on single lot trades after costs to trade and my PREMIUM SERVICE annual subscription my goal was to grow the broker account from USD$7,500 to $15,052.50 by the end of 2016.\r\n\r\n<strong><u>That would be to double your initial investment after ALL costs were taken into consideration</u></strong>\r\n\r\n<strong> </strong>How have I faired with this quest?\r\n\r\nBelow is the latest spreadsheet update post I made to my website on the 31<sup>st</sup> October 2016. On my website <a href=\"http://www.weeklyfxdivethru.com\">www.weeklyfxdivethru.com</a> landing page under the heading “PART TIME FOREX TRADERS” all my updates throughout 2016 can be found together with more information and background to these trade set ups.\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/POS-PROJ-2016-Q3.png\"><img class=\"aligncenter size-large wp-image-8630\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/POS-PROJ-2016-Q3-1024x806.png\" alt=\"pos-proj-2016-q3\" width=\"1024\" height=\"806\" /></a>\r\n\r\n&nbsp;\r\n\r\nAt the end of last month, the cumulative position now shows that the original account with USD$7,500 now stands at net USD$13,868.00.\r\n\r\nThere is just under USD$1,200 in income left to achieve (1,200 pips over the months of November and December). It is a tall order.\r\n\r\nWhat about my macro thoughts on the performance of the POSITION TRADES?\r\n\r\nMy thoughts are very straightforward: -\r\n<ol>\r\n 	<li>This (2016) has been an extremely difficult year to trade in.</li>\r\n 	<li>My approach to trading this year has been almost a 180 degree turn on 2015 trading.</li>\r\n 	<li>Features and factors that prompted me to start this trading style, namely central bank diversification never became as big of an issue as I thought it would have been. I had to re-focus and adapt the POSITION trade set ups to compensate for this.</li>\r\n 	<li>This review of style, manifested itself in the facts that my projection was for just 90 trades in the year. So far I have completed 146 trades (more than 50% more than anticipated). My profits per trade are less and my losses per trade are well under projection.</li>\r\n 	<li>I am, given the above points 1-4, delighted to have achieved this performance so far.</li>\r\n 	<li>Have I delivered what I set out for PART-TIME traders? Not 100%. I have delivered profits but the timings for closing of trades is still an issue. I cannot let losses grow or profits diminish due to a trading style. I have to 100% trade the price action in the market as I see it.</li>\r\n 	<li>What about 2017?I will continue this trading style next year, but I will review my other trading styles. It is impossible to predict what type of a trading year 2017 will be, apart from the fact it contains 365 days and that there will always be a forex market every day the market is open.</li>\r\n</ol>\r\nIf you would like additional supporting data or detail about the performance and the tabs on my website landing page at <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a> do not answer your questions, contact me directly and I will supply the trading data you require. There are NO secrets. There are many, many spreadsheets detailing performance trade by trade and by trade and by trading style, way too many to place in this blog. If you are interested in the PREMIUM SERVICE and want more information, all you have to do is ask.\r\n\r\n<strong> </strong>\r\n<ol start=\"3\">\r\n 	<li><strong> LOOKING BACKWARDS: THE FX MARKET PLACE</strong></li>\r\n</ol>\r\n<strong>LAST WEEK’S FOREX and ECONOMIC NEWS – MY VIEWS:</strong>\r\n\r\nU.S. PRESIDENTIAL ELECTION:\r\n\r\nAs I stated at the beginning of the blog THE DONALD (#45) is the next U.S. President.\r\n\r\nThe market reaction was opposite to what all the highly paid no skin in the market bank analysts had predicted, as soon as the markets realized that a TRUMP Presidency means SPEND, SPEND, SPEND and SPEND some more. In the U.S. with the great divide between Wall Street and Main Street firmly in situ (and those differences will be cemented in even more with THE DONALD in place at The White House), it was really hard to imagine that around 2.00AM EST on election night, the DOW was under a LIMIT DOWN and negative 830 points. Yet at the open it rallied to all-time highs.\r\n\r\nSince THE DONALD became President-elect, copper is on “Walter White” meth’s and the Bonds are dropping like a series of lead balloons across the financial centres. Gold is falling and Oil is starting to crater, regardless of the now laughable OPEC production cut to be formally written into the files of the “pointless and pathetic” at the end of this month.\r\n\r\nYup… welcome to the new world order; TRUMPISM and TRUMPFLATION is here!\r\n\r\nFrom the markets perspective, where money is concerned who gives a rats’ ass about who or what is President. The view is greater freedoms, less regulation, possible repeal of the Dodd-Frank legislation… happy days are here again.\r\n\r\n<strong> </strong>\r\n<ol start=\"4\">\r\n 	<li><strong> LOOKING FORWARDS:</strong><strong> </strong></li>\r\n</ol>\r\n<strong>THIS WEEK’S FOREX and ECONOMIC NEWS – MY VIEWS:</strong><strong> </strong>\r\n\r\n<u>THIS WEEK’S FOREX NEWS THAT INTERESTS ME:</u>\r\n\r\n(There are many more news items related to the Forex Market other than the ones listed below. These are the ones that interest me. You can go to <a href=\"http://www.forexfactory.com\">www.forexfactory.com</a> and <a href=\"http://www.tradingeconomics.com\">www.tradingeconomics.com</a> for a more comprehensive lists of all news events that are Forex related).\r\n\r\nSUNDAY: N/A.\r\n\r\nMONDAY: GBP – Inflation Report Hearings.\r\nMONDAY: NZD – Retail Sales.\r\nMONDAY: AUD – Monetary Policy Meeting Minutes.\r\n\r\nTUESDAY: GBP - CPi.\r\nTUESDAY: NZD – GDT Auction Results.\r\n\r\nWEDNESDAY: GBP – Jobs Data.\r\nWEDNESDAY: USD – PPi.\r\nWEDNESDAY: NZD – PPi.\r\nWEDNESDAY: AUD – Jobs Data.\r\n\r\nTHURSDAY: GBP – Retail Sales.\r\nTHURSDAY: USD – CPi, Core CPi, Philly FED Manufacturing Index.\r\nFRIDAY: CAD – Core CPi.\r\n\r\nA nice mix of high level data this week. Our attentions will be starting to shift once again to the FED, with the will she or wont she raise rates discussion entering all the inter-market chat rooms once again.\r\n\r\nIf she wants job security our little FED ditherer will raise rates in December as expected by the markets, who, are now allegedly 85% on board with a FED increase in December, and next year with TRUMPFLATION on the cards two/three further rises should NOT be ruled out.\r\n\r\nI am still bearish the cable and I am sitting in two short GBP/USD trades that are out of the money…argh!! I am therefore hoping for Theresa May or better still my mate Boris to say something bad this weekend regarding the BREXIT that causes cable to slip below 1.1500 preferably…. I live in hope!!\r\n\r\nWe must also bear in mind that the BREXIT will continue to offer volatility moving forward given the high court ruling on article 50.  I would not be surprised to see EUROZONE players getting involved in the media sound-bytes, plus we are now in the same month as the alleged proposed OPEC OIL production cut (he laughs as he types!!), this should also start to weigh in on the markets.\r\n\r\n<u> </u>\r\n\r\nMY THOUGHTS ON “THE DONALDS” FALLOUT:\r\n\r\nNow before we all start popping Krug as if it were Dom Pérignon, there is much, much more to consider.\r\n\r\nLet me just list a few of the initiatives that THE DONALD has in mind based upon what I would refer to as his ELECTION MANIFESTO.\r\n<ol>\r\n 	<li><strong>THE WALL</strong>: not a Roger Waters version, but the one to be erected between the U.S. and Mexico.</li>\r\n 	<li><strong>THE AFFORDABLE HEATLH CARE ACT</strong> (aka OBAMACARE): to be repealed.</li>\r\n 	<li><strong>NAFTA</strong> (North American Free Trade Agreement): To be torn up.</li>\r\n 	<li><strong>NATO</strong> (North Atlantic Treaty Organisation): re-financed, replaced or eradicated.</li>\r\n 	<li><strong>IRAN NUCLEAR AGREEMENT</strong>: To be torn up… revoked, repealed whatever.</li>\r\n 	<li><strong>THE FED</strong>: Janet Yellen to be replaced by someone who will normalize U.S. interest rates at a faster pace. THE DONALD wants an aggressive little fecker in the FED as chairman.</li>\r\n</ol>\r\nNow enjoy it while you can… but let’s take a step back and look at this short list that springs to mind.\r\n\r\nIf you think for one moment that putting these action items into play is going to fuel a continued rally in equities good luck to you. The honeymoon will be over very soon when realism sets in.\r\n\r\nTHE DONALD is NOT a career politician. He is an arrogant, will say anything to get a deal done salesman. His path forward is not laid in GOLD… far from it.\r\n\r\nI talk a lot about INTER-MARKET CORRELATIONS (PREMIUM SERVICE subscribers there is an item about this in the Training section). They are important to me to give me confidence in a move. Correlations confirm moves. They are vital to the way I trade and how I approach my day. Like my dogs (Ozzy and Aoife), I have my morning routines.\r\n\r\nBefore I take a really deep look at my charts and refresh myself with how my LIVE trades are behaving.\r\n\r\nI scan the following: -\r\n<p style=\"text-align: center;\">GOLD - /GC#0 (re AUD/USD and NZD/USD)\r\nOIL - /CL#0 (re USD/CAD)\r\nCOPPER - /HGZ2 (re AUD/USD)\r\n10 and 30 YEAR US BONDS - /ZN#0 and /ZB#0 (re USD/JPY and DXY)\r\nS&amp;P - /ES#0 (re AUD/JPY)\r\nDXY – USD index</p>\r\n<p style=\"text-align: center;\">USD/CAD</p>\r\n<p style=\"text-align: center;\">USD/SEK – this pair is very sensitive and a great leading indicator.</p>\r\n<p style=\"text-align: center;\">AUD/USD</p>\r\n<p style=\"text-align: center;\">I will quickly scan the inverse relationships of: -</p>\r\n<p style=\"text-align: center;\">EUR/USD and USD/CHF\r\nEUR/GBP and GBP/CHF\r\nS&amp;P and AUD/JPY</p>\r\n<p style=\"text-align: center;\">I will look at GOLD versus the AUD and CHF currencies as a whole some days as well.</p>\r\n<p style=\"text-align: center;\">Started in 2015, if OIL is up or down I look at USD/CAD, USD/NOK and sometimes\r\nUSD/MXN (of late this has been more of a THE DONALD trade) to check the movement correlation.</p>\r\nBy verifying and checking all of these and it takes me 15 minutes for a fast appraisal, this gives me the market overview I require from which to trade from.\r\n\r\nI will guarantee you right now, with the list of THE DONALD’s manifesto objectives listed above, correlations over the next 6-9 months will be more off than on.\r\n\r\nMy point here is that I strongly believe that we have continued uncertainty from a U.S. domestic perspective and it will be a riot on U.S. Foreign Policy.\r\n\r\nOver the coming weeks I will be burning the midnight oil to gather more and more opinions to counsel me further or trade against, which is the norm more often than not.\r\n\r\nThis market will stop dead in its track and reverse. This is not a super heavy oil tanker that requires 25 miles to stop and turn around…. be careful.\r\n\r\n<u> </u>\r\n\r\n<u>FOREX TRADING IN GENERAL TERMS THIS WEEK:</u>\r\n\r\nBasically keep it nimble. I do NOT trust these equity markets at these very lofty heights.\r\n\r\nBottom line just be careful. Very small position sizes if you are participating.\r\n\r\n<u>\r\nTHIS COMING WEEK - THE USD MAJORS (MY THOUGHTS): </u>\r\n\r\n(In this section I have as usual kept my charts as minimalist as possible. With regards to charting in my opinion less is more!! I hope that they are clear. All readers regardless of level of experience should be able to follow my thoughts from my comments to the levels on the charts with ease)\r\n\r\nMy comments are contained on the charts.\r\n\r\nEUR/USD - Weekly Closing Price: 1.0847\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/EURUSD-D-12112016.png\"><img class=\"aligncenter size-large wp-image-8639\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/EURUSD-D-12112016-1024x477.png\" alt=\"eurusd-d-12112016\" width=\"1024\" height=\"477\" /></a>\r\n\r\nGBP/USD - Weekly Closing Price: 1.2594\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/GBPUSD-D-12112016.png\"><img class=\"aligncenter size-large wp-image-8640\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/GBPUSD-D-12112016-1024x477.png\" alt=\"gbpusd-d-12112016\" width=\"1024\" height=\"477\" /></a>\r\n\r\nAUD/USD - Weekly Closing Price: 0.7539\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/AUDUSD-D-12112016.png\"><img class=\"aligncenter size-large wp-image-8638\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/AUDUSD-D-12112016-1024x477.png\" alt=\"audusd-d-12112016\" width=\"1024\" height=\"477\" /></a>\r\n\r\nNZD/USD - Weekly Closing Price: 0.7115\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/NZDUSD-D-12112016.png\"><img class=\"aligncenter size-large wp-image-8641\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/NZDUSD-D-12112016-1024x477.png\" alt=\"nzdusd-d-12112016\" width=\"1024\" height=\"477\" /></a>\r\n\r\nUSD/CAD - Weekly Closing Price: 1.3538\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/USDCAD-D-12112016.png\"><img class=\"aligncenter size-large wp-image-8642\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/USDCAD-D-12112016-1024x477.png\" alt=\"usdcad-d-12112016\" width=\"1024\" height=\"477\" /></a>\r\n\r\nUSD/CHF - Weekly Closing Price: 0.9870\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/USDCHF-D-12112016.png\"><img class=\"aligncenter size-large wp-image-8643\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/USDCHF-D-12112016-1024x477.png\" alt=\"usdchf-d-12112016\" width=\"1024\" height=\"477\" /></a>\r\n\r\nUSD/JPY - Weekly Closing Price: 106.59\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/USDJPY-D-12112016.png\"><img class=\"aligncenter size-large wp-image-8644\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/USDJPY-D-12112016-1024x477.png\" alt=\"usdjpy-d-12112016\" width=\"1024\" height=\"477\" /></a>\r\n\r\n<strong> </strong>\r\n\r\n<strong> </strong><strong> </strong>\r\n<ol start=\"5\">\r\n 	<li><strong> PREMIUM SERVICE SUBSCRIBER EXCLUSIVE CONTENT AREA:</strong></li>\r\n</ol>\r\n<ol start=\"6\">\r\n 	<li><strong> MY CLOSING THOUGHTS:</strong></li>\r\n</ol>\r\nWell, if you survived last week you are now good to go.\r\n\r\nThe equity markets look toppy to me so be careful as we will have huge “RIPS” and “DIPS” being at so many extremes all at the same time (DOW, S&amp;P, BONDS, COPPER).\r\n\r\nBe conscious that BREXIT and the up-coming election in ITALY, could send the markets into mega confusion as protest votes are the way to go nowadays.\r\n\r\nA big rejection of constitutional reform in ITALY on 4<sup>th</sup> December could send the EUROZONE and the single currency into a tail-spin. Add a bit of BORIS JOHNSON and THE DONALD into the mix and volatility is the name of the game…. never mind “HUGE” uncertainty about Matteo Renzi the Italian Prime Minister.\r\n\r\nSo once again, the sword of Damocles hangs over the markets. I have to mention OPEC… what a joke. If they actually do something that is measurable quantifiable and accountable never mind identifiable, yes, look out of your windows and catch the squadrons of pink pigs flying overhead…. need I say anymore?\r\n\r\nAs usual…\r\n\r\nAlways remember longevity in Forex trading can only be achieved through trading with good RISK and MONEY MANAGEMENT, and above all set your position sizes in accordance with the size of your account and allow for some flexibility.\r\n\r\nTake care,\r\n\r\nScott Pickering\r\nThe Pip Accumulator\r\n<a href=\"http://weeklyfxdrivethru.com/disclaimer/\">http://weeklyfxdrivethru.com/disclaimer/\r\n</a>BLOG VERSION: FREE NEWSLETTER\r\nDATE: 12<sup>th</sup> November 2016.','THE DONALD SWOOPS IN TO DC …','','publish','open','closed','','donald-swoops-dc','','','2016-11-12 14:09:50','2016-11-12 19:09:50','',0,'http://weeklyfxdrivethru.com/?p=8647',0,'post','',0),(8648,1,'2016-11-12 14:07:49','2016-11-12 19:07:49','&nbsp;\r\n<ol>\r\n 	<li><strong> INTRODUCTION:</strong></li>\r\n</ol>\r\nJesus, Mary and Joseph… THE DONALD did it.\r\n\r\nLast Tuesday was a hell of a ride, in fact it all started long before the day of the vote. The markets had decided that HILLARY had it all sewn up on the Monday morning following the prior weekends polls.\r\n\r\nNever has there been an election in the world, that I can remember, where everyone and I mean everyone had an opinion on the outcome, based upon the shenanigans that we have ALL lived through for the past 18 months.\r\n\r\nFrom a trading perspective, I went into the U.S. election with my focus on three pairs all based around a HILLARY victory. I banked a few pips on the night but to be honest, I was totally drawn in to the TV coverage, especially as the CNN expert panel started to think the unthinkable, and realise, that the candidate that they had trashed for the previous 12 months was about to become their next President. Between trading charts, two TV channels, Tweet Deck, emails and the odd connectivity issue, my primary focus was more on the prospect of THE DONALD in The White House than anything else.\r\n\r\nI had my TRADE PLAN (A) but my TRADE PLAN (B) was not fixed in my mind. I had my price extremes list on the currency pairs that interested me, that I had issued to PREMIUM SERVICE subscribers in front of me.\r\n\r\nI missed a great opportunity to short the EUR/USD after it became apparent that THE DONALD had a more than 50/50 chance of winning.  My pre-event chart had the areas of interest to me for a EUR/USD short at 1.1240 and 1.1310.  The pair spiked and leapt up like a salmon off 1.0990 support on the possible TRUMP victory. I advised PREMIUM SERVICE subscribers that I was NOT going to short at 1.1240 but 1.1310 the next level offered a better entry. The pair just failed short 1.1310 by a few pips.\r\n\r\nIt has subsequently fallen on the “TRUMPFLATION” move and is now challenging big support at 1.0850.\r\n\r\nSo, I missed several trades on the night. As I explained over twitter in the “wee hours”, you cannot be in all trades and such a geopolitical event is NOT just the night itself but the days that follow as well. On the night, I banked a smallish number of pips, however in the days that followed my pip gains have been much, much better.\r\n\r\nMoving on…\r\n\r\nThe aftermath of the elections was relatively good for my trading as basically all of the bank analysis about what would happen should THE DONALD be victorious was bullsh*t. The FX reaction was 180 degrees away from all of the banks market interpretations that I could lay my hands on.\r\n\r\nThe week prior to the election, the PREMIUM SERVICE was negative -194 pips, (for the month) having started November at -300 pips. Now a week later for the month of November the PREMIUM SERVICE is positive by +694 pips.\r\n\r\nAs my PREMIUM SERVICE subscribers are aware, I am dubious about the present levels in equities. The relationship between prices, EPS and overall valuations has me puzzled and I think we should not get carried away. I have started building short positions with the commodity currencies and I am gathering my thoughts and ideas for trading in 2017 based upon a TRUMP White House.\r\n\r\nMore of my 2017 thoughts and trade ideas are listed later in section 5 for PREMIUM SERVICE subscribers.\r\n\r\nDo not forget…\r\n\r\nJust a quick reminder; each month, I am giving away a FREE PREMIUM SERVICE 4-week subscription. This gives the winner 100% access to the PREMIUM SERVICE website and ALL my PREMIUM SERVICE communications from my suggested trade set-ups to market commentaries and my thoughts.\r\n\r\nTo stand a chance of being the next subscription winner, you need to subscribe to receive this free blog via my website <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a><strong> </strong>\r\n\r\n<strong> </strong>You are automatically entered into a free monthly draw, once you’ve subscribed. Each month one lucky blog subscriber will receive a free subscription to the PREMIUM SERVICE.\r\n<strong> </strong>\r\n<ol start=\"2\">\r\n 	<li><strong> THE PREMIUM SERVICE:</strong></li>\r\n</ol>\r\n<u>WHAT IS THE PREMIUM SERVICE:</u>\r\n\r\nThe PREMIUM SERVICE is a subscriber, fee based trade set-up option for Forex traders regardless of experience or background. I provide traders suggested trades, and some market commentary related to open trades or factors within the overall market that have my interest.\r\n\r\nFull details of the PREMIUM SERVICE and the various trade styles plus how suggested trade set-ups are communicated can be found on my website landing page at <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a> by selecting THE PREMIUM SERVICE tab.\r\n\r\nAdditional information can be found by clicking TESTIMONIALS, PART-TIME TRADERS and FX PROMOTIONS tabs. To subscribe to THE PREMIUM SERVICE you will require a credit card.\r\n\r\n<u> </u>\r\n\r\n<u>PREMIUM SERVICE SUBSCRIPTION COSTS:</u>\r\n\r\nDetails of features and benefits of a PREMIUM SERVICE subscription can be found on my website landing page at <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a> under the dropdown tab at the top of the page entitled HISTORY &amp; PERFORMANCE OF THE PREMIUM SERVICE. To subscribe follow the SUBSCRIBE HERE tab.\r\n<p style=\"text-align: center;\">PREMIUM SERVICE subscription costs are as follows: -</p>\r\n<p style=\"text-align: center;\">CAD$240.00 - 4 weeks (1 month)\r\nCAD$500.00 - 10 weeks (3 months)\r\nCAD$750.00 - 20 weeks (6 months)\r\nCAD$1,250.00 - 40 weeks (12 months)\r\n<u>PLUS</u>: Existing PLATINUM MEMBERS (annual subscribers) can re-subscribe for a further 12 months for CAD$1,000.00\r\n\r\nI work for about 40 weeks a year. Subscriptions are based on 40 published blogs of the WEEKLY FX DRIVE THRU per year. For the remaining 10 weeks, I am around tweeting, posting and managing existing LIVE trades, although my market activity is reduced.</p>\r\n<p style=\"text-align: center;\"><u>PREMIUM SERVICE PERFORMANCE:</u></p>\r\n<p style=\"text-align: center;\">PRESENT AND HISTORICAL QUICK PREMIUM SERVICE STATS:\r\n\r\nTHIS MONTH SO FAR: +694 pips\r\nYEAR TO DATE TOTAL: +12,312 pips</p>\r\n<p style=\"text-align: center;\">NET PIPS 2015:       +10,686 pips\r\nNET PIPS 2014:       +11,209 pips</p>\r\n<p style=\"text-align: center;\">Below, for additional information, I show the net position of THE PREMIUM SERVICE performance for 2016. On my website landing page <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a> under the heading “HISTORY &amp; PERFORMANCE” there are more reports providing more historic trading information.</p>\r\n&nbsp;\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/PS-PERF-2016-TO-DATE-12112016.png\"><img class=\"aligncenter size-large wp-image-8626\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/PS-PERF-2016-TO-DATE-12112016-944x1024.png\" alt=\"ps-perf-2016-to-date-12112016\" width=\"944\" height=\"1024\" /></a>\r\n\r\n&nbsp;\r\n\r\nPART-TIME TRADER (POSITION) TRADES:\r\n\r\nAt the end of 2015, having listened to many of my subscribers and from a market survey that I undertook, I wanted to try and address those Forex traders who would consider themselves to be a PART-TIME trader for whatever reason.\r\n\r\nPART-TIME FOREX TRADERS fall between a rock and a hard place.  It is very, very difficult with limited access to computers due to full-time employment or limited access to a computer due time constraints, to have a voice when trading.\r\n\r\nNow more than ever you really need to be 24 x 5 with your devices to keep on top of things.\r\n\r\nI wanted to try and find a trading solution for PART-TIME TRADERS.\r\n\r\nLet me be the first to say, my solution is not 100% perfect. You can put lipstick on a pig but it’s still a pig, if you understand me. This is not an easy fix. But I wanted to try, and to be honest, timing in Forex is everything.\r\n\r\nMy initial solution, and it is on-going, has been my savior to my trading performance this year so far, with just 6/7 weeks left to go.\r\n\r\nI introduced PART-TIME TRADER TRADES now called POSITION TRADES at the start of 2016. This trading style is based upon my FUNDAMENTAL longer-term market views. These trades are LIMIT ORDER entry trades with very wide stops based on ATR (Average True Range) limits, mostly weekly limits, but sometimes monthly limits, using Fibonacci levels and trend lines to set stops and limits.\r\n\r\nThey have been, due to the way that the Forex market has been held to ransom inside tight trading ranges for most of the year, creating very choppy market conditions very successful.\r\n\r\nI am NOT saying that these trades and the way I trade them because I still have to assess trades all the time and close off trades early etc.… are the “B all and end all” holy grail for PART-TIME TRADERS but they are a step in the right direction.\r\n\r\nThese trades also suit FULL-TIME traders who want to take a longer-term perspective.\r\n\r\nHow successful have they been?\r\n\r\nHow do I measure their success?\r\n\r\nVery simply, when launching these trades, a year ago I created a page on my website landing page at <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a> called PART TIME FOREX TRADERS it is part of my drop down menu at the top of my landing page.\r\n\r\nI tried my best to define my target audience and I posted a cash flow projection, it is still there today and I have subsequently added quarterly reviews during the year.\r\n\r\nBelow is the initial cash flow projection that was posted the first week of January 2016.\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/POS-TRADE-PROJ-2016.png\"><img class=\"aligncenter size-large wp-image-8627\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/POS-TRADE-PROJ-2016-818x1024.png\" alt=\"pos-trade-proj-2016\" width=\"818\" height=\"1024\" /></a>\r\n\r\n&nbsp;\r\n\r\nI am not going to spend a great deal of time on this. Basically for the purpose of this section of the DRIVE THRU blog will focus solely on MINI LOT traders.\r\n\r\nMy suggestion on day 1, was to open a broker account with USD$7,500. At the end of the year based only on single lot trades after costs to trade and my PREMIUM SERVICE annual subscription my goal was to grow the broker account from USD$7,500 to $15,052.50 by the end of 2016.\r\n\r\n<strong><u>That would be to double your initial investment after ALL costs were taken into consideration</u></strong>\r\n\r\n<strong> </strong>How have I faired with this quest?\r\n\r\nBelow is the latest spreadsheet update post I made to my website on the 31<sup>st</sup> October 2016. On my website <a href=\"http://www.weeklyfxdivethru.com\">www.weeklyfxdivethru.com</a> landing page under the heading “PART TIME FOREX TRADERS” all my updates throughout 2016 can be found together with more information and background to these trade set ups.\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/POS-PROJ-2016-Q3.png\"><img class=\"aligncenter size-large wp-image-8630\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/POS-PROJ-2016-Q3-1024x806.png\" alt=\"pos-proj-2016-q3\" width=\"1024\" height=\"806\" /></a>\r\n\r\n&nbsp;\r\n\r\nAt the end of last month, the cumulative position now shows that the original account with USD$7,500 now stands at net USD$13,868.00.\r\n\r\nThere is just under USD$1,200 in income left to achieve (1,200 pips over the months of November and December). It is a tall order.\r\n\r\nWhat about my macro thoughts on the performance of the POSITION TRADES?\r\n\r\nMy thoughts are very straightforward: -\r\n<ol>\r\n 	<li>This (2016) has been an extremely difficult year to trade in.</li>\r\n 	<li>My approach to trading this year has been almost a 180 degree turn on 2015 trading.</li>\r\n 	<li>Features and factors that prompted me to start this trading style, namely central bank diversification never became as big of an issue as I thought it would have been. I had to re-focus and adapt the POSITION trade set ups to compensate for this.</li>\r\n 	<li>This review of style, manifested itself in the facts that my projection was for just 90 trades in the year. So far I have completed 146 trades (more than 50% more than anticipated). My profits per trade are less and my losses per trade are well under projection.</li>\r\n 	<li>I am, given the above points 1-4, delighted to have achieved this performance so far.</li>\r\n 	<li>Have I delivered what I set out for PART-TIME traders? Not 100%. I have delivered profits but the timings for closing of trades is still an issue. I cannot let losses grow or profits diminish due to a trading style. I have to 100% trade the price action in the market as I see it.</li>\r\n 	<li>What about 2017?\r\n\r\nI will continue this trading style next year, but I will review my other trading styles. It is impossible to predict what type of a trading year 2017 will be, apart from the fact it contains 365 days and that there will always be a forex market every day the market is open.</li>\r\n</ol>\r\nIf you would like additional supporting data or detail about the performance and the tabs on my website landing page at <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a> do not answer your questions, contact me directly and I will supply the trading data you require. There are NO secrets. There are many, many spreadsheets detailing performance trade by trade and by trade and by trading style, way too many to place in this blog. If you are interested in the PREMIUM SERVICE and want more information, all you have to do is ask.\r\n\r\n<strong> </strong>\r\n<ol start=\"3\">\r\n 	<li><strong> LOOKING BACKWARDS: THE FX MARKET PLACE</strong></li>\r\n</ol>\r\n<strong>LAST WEEK’S FOREX and ECONOMIC NEWS – MY VIEWS:</strong>\r\n\r\nU.S. PRESIDENTIAL ELECTION:\r\n\r\nAs I stated at the beginning of the blog THE DONALD (#45) is the next U.S. President.\r\n\r\nThe market reaction was opposite to what all the highly paid no skin in the market bank analysts had predicted, as soon as the markets realized that a TRUMP Presidency means SPEND, SPEND, SPEND and SPEND some more. In the U.S. with the great divide between Wall Street and Main Street firmly in situ (and those differences will be cemented in even more with THE DONALD in place at The White House), it was really hard to imagine that around 2.00AM EST on election night, the DOW was under a LIMIT DOWN and negative 830 points. Yet at the open it rallied to all-time highs.\r\n\r\nSince THE DONALD became President-elect, copper is on “Walter White” meth’s and the Bonds are dropping like a series of lead balloons across the financial centres. Gold is falling and Oil is starting to crater, regardless of the now laughable OPEC production cut to be formally written into the files of the “pointless and pathetic” at the end of this month.\r\n\r\nYup… welcome to the new world order; TRUMPISM and TRUMPFLATION is here!\r\n\r\nFrom the markets perspective, where money is concerned who gives a rats’ ass about who or what is President. The view is greater freedoms, less regulation, possible repeal of the Dodd-Frank legislation… happy days are here again.\r\n\r\n<strong> </strong>\r\n<ol start=\"4\">\r\n 	<li><strong> LOOKING FORWARDS:</strong><strong> </strong></li>\r\n</ol>\r\n<strong>THIS WEEK’S FOREX and ECONOMIC NEWS – MY VIEWS:</strong><strong> </strong>\r\n\r\n<u>THIS WEEK’S FOREX NEWS THAT INTERESTS ME:</u>\r\n\r\n(There are many more news items related to the Forex Market other than the ones listed below. These are the ones that interest me. You can go to <a href=\"http://www.forexfactory.com\">www.forexfactory.com</a> and <a href=\"http://www.tradingeconomics.com\">www.tradingeconomics.com</a> for a more comprehensive lists of all news events that are Forex related).\r\n\r\nSUNDAY: N/A.\r\n\r\nMONDAY: GBP – Inflation Report Hearings.\r\nMONDAY: NZD – Retail Sales.\r\nMONDAY: AUD – Monetary Policy Meeting Minutes.\r\n\r\nTUESDAY: GBP - CPi.\r\nTUESDAY: NZD – GDT Auction Results.\r\n\r\nWEDNESDAY: GBP – Jobs Data.\r\nWEDNESDAY: USD – PPi.\r\nWEDNESDAY: NZD – PPi.\r\nWEDNESDAY: AUD – Jobs Data.\r\n\r\nTHURSDAY: GBP – Retail Sales.\r\nTHURSDAY: USD – CPi, Core CPi, Philly FED Manufacturing Index.\r\nFRIDAY: CAD – Core CPi.\r\n\r\nA nice mix of high level data this week. Our attentions will be starting to shift once again to the FED, with the will she or wont she raise rates discussion entering all the inter-market chat rooms once again.\r\n\r\nIf she wants job security our little FED ditherer will raise rates in December as expected by the markets, who, are now allegedly 85% on board with a FED increase in December, and next year with TRUMPFLATION on the cards two/three further rises should NOT be ruled out.\r\n\r\nI am still bearish the cable and I am sitting in two short GBP/USD trades that are out of the money…argh!! I am therefore hoping for Theresa May or better still my mate Boris to say something bad this weekend regarding the BREXIT that causes cable to slip below 1.1500 preferably…. I live in hope!!\r\n\r\nWe must also bear in mind that the BREXIT will continue to offer volatility moving forward given the high court ruling on article 50.  I would not be surprised to see EUROZONE players getting involved in the media sound-bytes, plus we are now in the same month as the alleged proposed OPEC OIL production cut (he laughs as he types!!), this should also start to weigh in on the markets.\r\n\r\n<u> </u>\r\n\r\nMY THOUGHTS ON “THE DONALDS” FALLOUT:\r\n\r\nNow before we all start popping Krug as if it were Dom Pérignon, there is much, much more to consider.\r\n\r\nLet me just list a few of the initiatives that THE DONALD has in mind based upon what I would refer to as his ELECTION MANIFESTO.\r\n<ol>\r\n 	<li><strong>THE WALL</strong>: not a Roger Waters version, but the one to be erected between the U.S. and Mexico.</li>\r\n 	<li><strong>THE AFFORDABLE HEATLH CARE ACT</strong> (aka OBAMACARE): to be repealed.</li>\r\n 	<li><strong>NAFTA</strong> (North American Free Trade Agreement): To be torn up.</li>\r\n 	<li><strong>NATO</strong> (North Atlantic Treaty Organisation): re-financed, replaced or eradicated.</li>\r\n 	<li><strong>IRAN NUCLEAR AGREEMENT</strong>: To be torn up… revoked, repealed whatever.</li>\r\n 	<li><strong>THE FED</strong>: Janet Yellen to be replaced by someone who will normalize U.S. interest rates at a faster pace. THE DONALD wants an aggressive little fecker in the FED as chairman.</li>\r\n</ol>\r\nNow enjoy it while you can… but let’s take a step back and look at this short list that springs to mind.\r\n\r\nIf you think for one moment that putting these action items into play is going to fuel a continued rally in equities good luck to you. The honeymoon will be over very soon when realism sets in.\r\n\r\nTHE DONALD is NOT a career politician. He is an arrogant, will say anything to get a deal done salesman. His path forward is not laid in GOLD… far from it.\r\n\r\nI talk a lot about INTER-MARKET CORRELATIONS (PREMIUM SERVICE subscribers there is an item about this in the Training section). They are important to me to give me confidence in a move. Correlations confirm moves. They are vital to the way I trade and how I approach my day. Like my dogs (Ozzy and Aoife), I have my morning routines.\r\n\r\nBefore I take a really deep look at my charts and refresh myself with how my LIVE trades are behaving.\r\n\r\nI scan the following: -\r\n<p style=\"text-align: center;\">GOLD - /GC#0 (re AUD/USD and NZD/USD)\r\nOIL - /CL#0 (re USD/CAD)\r\nCOPPER - /HGZ2 (re AUD/USD)\r\n10 and 30 YEAR US BONDS - /ZN#0 and /ZB#0 (re USD/JPY and DXY)\r\nS&amp;P - /ES#0 (re AUD/JPY)\r\nDXY – USD index</p>\r\n<p style=\"text-align: center;\">USD/CAD</p>\r\n<p style=\"text-align: center;\">USD/SEK – this pair is very sensitive and a great leading indicator.</p>\r\n<p style=\"text-align: center;\">AUD/USD</p>\r\n<p style=\"text-align: center;\">I will quickly scan the inverse relationships of: -</p>\r\n<p style=\"text-align: center;\">EUR/USD and USD/CHF\r\nEUR/GBP and GBP/CHF\r\nS&amp;P and AUD/JPY</p>\r\n<p style=\"text-align: center;\">I will look at GOLD versus the AUD and CHF currencies as a whole some days as well.</p>\r\n<p style=\"text-align: center;\">Started in 2015, if OIL is up or down I look at USD/CAD, USD/NOK and sometimes\r\nUSD/MXN (of late this has been more of a THE DONALD trade) to check the movement correlation.</p>\r\nBy verifying and checking all of these and it takes me 15 minutes for a fast appraisal, this gives me the market overview I require from which to trade from.\r\n\r\nI will guarantee you right now, with the list of THE DONALD’s manifesto objectives listed above, correlations over the next 6-9 months will be more off than on.\r\n\r\nMy point here is that I strongly believe that we have continued uncertainty from a U.S. domestic perspective and it will be a riot on U.S. Foreign Policy.\r\n\r\nOver the coming weeks I will be burning the midnight oil to gather more and more opinions to counsel me further or trade against, which is the norm more often than not.\r\n\r\nThis market will stop dead in its track and reverse. This is not a super heavy oil tanker that requires 25 miles to stop and turn around…. be careful.\r\n\r\n<u> </u>\r\n\r\n<u>FOREX TRADING IN GENERAL TERMS THIS WEEK:</u>\r\n\r\nBasically keep it nimble. I do NOT trust these equity markets at these very lofty heights.\r\n\r\nBottom line just be careful. Very small position sizes if you are participating.\r\n\r\n<u>\r\nTHIS COMING WEEK - THE USD MAJORS (MY THOUGHTS): </u>\r\n\r\n(In this section I have as usual kept my charts as minimalist as possible. With regards to charting in my opinion less is more!! I hope that they are clear. All readers regardless of level of experience should be able to follow my thoughts from my comments to the levels on the charts with ease)\r\n\r\nMy comments are contained on the charts.\r\n\r\nEUR/USD - Weekly Closing Price: 1.0847\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/EURUSD-D-12112016.png\"><img class=\"aligncenter size-large wp-image-8639\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/EURUSD-D-12112016-1024x477.png\" alt=\"eurusd-d-12112016\" width=\"1024\" height=\"477\" /></a>\r\n\r\nGBP/USD - Weekly Closing Price: 1.2594\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/GBPUSD-D-12112016.png\"><img class=\"aligncenter size-large wp-image-8640\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/GBPUSD-D-12112016-1024x477.png\" alt=\"gbpusd-d-12112016\" width=\"1024\" height=\"477\" /></a>\r\n\r\nAUD/USD - Weekly Closing Price: 0.7539\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/AUDUSD-D-12112016.png\"><img class=\"aligncenter size-large wp-image-8638\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/AUDUSD-D-12112016-1024x477.png\" alt=\"audusd-d-12112016\" width=\"1024\" height=\"477\" /></a>\r\n\r\nNZD/USD - Weekly Closing Price: 0.7115\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/NZDUSD-D-12112016.png\"><img class=\"aligncenter size-large wp-image-8641\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/NZDUSD-D-12112016-1024x477.png\" alt=\"nzdusd-d-12112016\" width=\"1024\" height=\"477\" /></a>\r\n\r\nUSD/CAD - Weekly Closing Price: 1.3538\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/USDCAD-D-12112016.png\"><img class=\"aligncenter size-large wp-image-8642\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/USDCAD-D-12112016-1024x477.png\" alt=\"usdcad-d-12112016\" width=\"1024\" height=\"477\" /></a>\r\n\r\nUSD/CHF - Weekly Closing Price: 0.9870\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/USDCHF-D-12112016.png\"><img class=\"aligncenter size-large wp-image-8643\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/USDCHF-D-12112016-1024x477.png\" alt=\"usdchf-d-12112016\" width=\"1024\" height=\"477\" /></a>\r\n\r\nUSD/JPY - Weekly Closing Price: 106.59\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/USDJPY-D-12112016.png\"><img class=\"aligncenter size-large wp-image-8644\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/USDJPY-D-12112016-1024x477.png\" alt=\"usdjpy-d-12112016\" width=\"1024\" height=\"477\" /></a>\r\n\r\n<strong> </strong>\r\n\r\n<strong> </strong><strong> </strong>\r\n<ol start=\"5\">\r\n 	<li><strong> PREMIUM SERVICE SUBSCRIBER EXCLUSIVE CONTENT AREA:</strong></li>\r\n</ol>\r\n<ol start=\"6\">\r\n 	<li><strong> MY CLOSING THOUGHTS:</strong></li>\r\n</ol>\r\nWell, if you survived last week you are now good to go.\r\n\r\nThe equity markets look toppy to me so be careful as we will have huge “RIPS” and “DIPS” being at so many extremes all at the same time (DOW, S&amp;P, BONDS, COPPER).\r\n\r\nBe conscious that BREXIT and the up-coming election in ITALY, could send the markets into mega confusion as protest votes are the way to go nowadays.\r\n\r\nA big rejection of constitutional reform in ITALY on 4<sup>th</sup> December could send the EUROZONE and the single currency into a tail-spin. Add a bit of BORIS JOHNSON and THE DONALD into the mix and volatility is the name of the game…. never mind “HUGE” uncertainty about Matteo Renzi the Italian Prime Minister.\r\n\r\nSo once again, the sword of Damocles hangs over the markets. I have to mention OPEC… what a joke. If they actually do something that is measurable quantifiable and accountable never mind identifiable, yes, look out of your windows and catch the squadrons of pink pigs flying overhead…. need I say anymore?\r\n\r\nAs usual…\r\n\r\nAlways remember longevity in Forex trading can only be achieved through trading with good RISK and MONEY MANAGEMENT, and above all set your position sizes in accordance with the size of your account and allow for some flexibility.\r\n\r\nTake care,\r\n\r\nScott Pickering\r\nThe Pip Accumulator\r\n<a href=\"http://weeklyfxdrivethru.com/disclaimer/\">http://weeklyfxdrivethru.com/disclaimer/\r\n</a>BLOG VERSION: FREE NEWSLETTER\r\nDATE: 12<sup>th</sup> November 2016.','THE DONALD SWOOPS IN TO DC …','','inherit','closed','closed','','8647-revision-v1','','','2016-11-12 14:07:49','2016-11-12 19:07:49','',8647,'http://weeklyfxdrivethru.com/8647-revision-v1/',0,'revision','',0),(8649,1,'2016-11-12 14:08:55','2016-11-12 19:08:55','','prem-serv-logo-for-tour2016','','inherit','open','closed','','prem-serv-logo-for-tour2016','','','2016-11-12 14:08:55','2016-11-12 19:08:55','',0,'http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/PREM-SERV-LOGO-for-TOUR2016.png',0,'attachment','image/png',0),(8650,1,'2016-11-12 14:09:50','2016-11-12 19:09:50','&nbsp;\r\n<ol>\r\n 	<li><strong> INTRODUCTION:</strong></li>\r\n</ol>\r\nJesus, Mary and Joseph… THE DONALD did it.\r\n\r\nLast Tuesday was a hell of a ride, in fact it all started long before the day of the vote. The markets had decided that HILLARY had it all sewn up on the Monday morning following the prior weekends polls.\r\n\r\nNever has there been an election in the world, that I can remember, where everyone and I mean everyone had an opinion on the outcome, based upon the shenanigans that we have ALL lived through for the past 18 months.\r\n\r\nFrom a trading perspective, I went into the U.S. election with my focus on three pairs all based around a HILLARY victory. I banked a few pips on the night but to be honest, I was totally drawn in to the TV coverage, especially as the CNN expert panel started to think the unthinkable, and realise, that the candidate that they had trashed for the previous 12 months was about to become their next President. Between trading charts, two TV channels, Tweet Deck, emails and the odd connectivity issue, my primary focus was more on the prospect of THE DONALD in The White House than anything else.\r\n\r\nI had my TRADE PLAN (A) but my TRADE PLAN (B) was not fixed in my mind. I had my price extremes list on the currency pairs that interested me, that I had issued to PREMIUM SERVICE subscribers in front of me.\r\n\r\nI missed a great opportunity to short the EUR/USD after it became apparent that THE DONALD had a more than 50/50 chance of winning.  My pre-event chart had the areas of interest to me for a EUR/USD short at 1.1240 and 1.1310.  The pair spiked and leapt up like a salmon off 1.0990 support on the possible TRUMP victory. I advised PREMIUM SERVICE subscribers that I was NOT going to short at 1.1240 but 1.1310 the next level offered a better entry. The pair just failed short 1.1310 by a few pips.\r\n\r\nIt has subsequently fallen on the “TRUMPFLATION” move and is now challenging big support at 1.0850.\r\n\r\nSo, I missed several trades on the night. As I explained over twitter in the “wee hours”, you cannot be in all trades and such a geopolitical event is NOT just the night itself but the days that follow as well. On the night, I banked a smallish number of pips, however in the days that followed my pip gains have been much, much better.\r\n\r\nMoving on…\r\n\r\nThe aftermath of the elections was relatively good for my trading as basically all of the bank analysis about what would happen should THE DONALD be victorious was bullsh*t. The FX reaction was 180 degrees away from all of the banks market interpretations that I could lay my hands on.\r\n\r\nThe week prior to the election, the PREMIUM SERVICE was negative -194 pips, (for the month) having started November at -300 pips. Now a week later for the month of November the PREMIUM SERVICE is positive by +694 pips.\r\n\r\nAs my PREMIUM SERVICE subscribers are aware, I am dubious about the present levels in equities. The relationship between prices, EPS and overall valuations has me puzzled and I think we should not get carried away. I have started building short positions with the commodity currencies and I am gathering my thoughts and ideas for trading in 2017 based upon a TRUMP White House.\r\n\r\nMore of my 2017 thoughts and trade ideas are listed later in section 5 for PREMIUM SERVICE subscribers.\r\n\r\nDo not forget…\r\n\r\nJust a quick reminder; each month, I am giving away a FREE PREMIUM SERVICE 4-week subscription. This gives the winner 100% access to the PREMIUM SERVICE website and ALL my PREMIUM SERVICE communications from my suggested trade set-ups to market commentaries and my thoughts.\r\n\r\nTo stand a chance of being the next subscription winner, you need to subscribe to receive this free blog via my website <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a><strong> </strong>\r\n\r\n<strong> </strong>You are automatically entered into a free monthly draw, once you’ve subscribed. Each month one lucky blog subscriber will receive a free subscription to the PREMIUM SERVICE.\r\n<strong> </strong>\r\n<ol start=\"2\">\r\n 	<li><strong> THE PREMIUM SERVICE:</strong></li>\r\n</ol>\r\n<u>WHAT IS THE PREMIUM SERVICE:</u>\r\n\r\nThe PREMIUM SERVICE is a subscriber, fee based trade set-up option for Forex traders regardless of experience or background. I provide traders suggested trades, and some market commentary related to open trades or factors within the overall market that have my interest.\r\n\r\nFull details of the PREMIUM SERVICE and the various trade styles plus how suggested trade set-ups are communicated can be found on my website landing page at <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a> by selecting THE PREMIUM SERVICE tab.\r\n\r\nAdditional information can be found by clicking TESTIMONIALS, PART-TIME TRADERS and FX PROMOTIONS tabs. To subscribe to THE PREMIUM SERVICE you will require a credit card.\r\n\r\n<u> </u>\r\n\r\n<u>PREMIUM SERVICE SUBSCRIPTION COSTS:</u>\r\n\r\nDetails of features and benefits of a PREMIUM SERVICE subscription can be found on my website landing page at <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a> under the dropdown tab at the top of the page entitled HISTORY &amp; PERFORMANCE OF THE PREMIUM SERVICE. To subscribe follow the SUBSCRIBE HERE tab.\r\n<p style=\"text-align: center;\">PREMIUM SERVICE subscription costs are as follows: -</p>\r\n<p style=\"text-align: center;\">CAD$240.00 - 4 weeks (1 month)\r\nCAD$500.00 - 10 weeks (3 months)\r\nCAD$750.00 - 20 weeks (6 months)\r\nCAD$1,250.00 - 40 weeks (12 months)\r\n<u>PLUS</u>: Existing PLATINUM MEMBERS (annual subscribers) can re-subscribe for a further 12 months for CAD$1,000.00</p>\r\nI work for about 40 weeks a year. Subscriptions are based on 40 published blogs of the WEEKLY FX DRIVE THRU per year. For the remaining 10 weeks, I am around tweeting, posting and managing existing LIVE trades, although my market activity is reduced.\r\n<p style=\"text-align: center;\"><u>PREMIUM SERVICE PERFORMANCE:</u></p>\r\n<p style=\"text-align: center;\">PRESENT AND HISTORICAL QUICK PREMIUM SERVICE STATS:</p>\r\nTHIS MONTH SO FAR: +694 pips\r\nYEAR TO DATE TOTAL: +12,312 pips\r\n<p style=\"text-align: center;\">NET PIPS 2015:       +10,686 pips\r\nNET PIPS 2014:       +11,209 pips</p>\r\n<p style=\"text-align: center;\">Below, for additional information, I show the net position of THE PREMIUM SERVICE performance for 2016. On my website landing page <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a> under the heading “HISTORY &amp; PERFORMANCE” there are more reports providing more historic trading information.</p>\r\n&nbsp;\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/PS-PERF-2016-TO-DATE-12112016.png\"><img class=\"aligncenter size-large wp-image-8626\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/PS-PERF-2016-TO-DATE-12112016-944x1024.png\" alt=\"ps-perf-2016-to-date-12112016\" width=\"944\" height=\"1024\" /></a>\r\n\r\n&nbsp;\r\n\r\nPART-TIME TRADER (POSITION) TRADES:\r\n\r\nAt the end of 2015, having listened to many of my subscribers and from a market survey that I undertook, I wanted to try and address those Forex traders who would consider themselves to be a PART-TIME trader for whatever reason.\r\n\r\nPART-TIME FOREX TRADERS fall between a rock and a hard place.  It is very, very difficult with limited access to computers due to full-time employment or limited access to a computer due time constraints, to have a voice when trading.\r\n\r\nNow more than ever you really need to be 24 x 5 with your devices to keep on top of things.\r\n\r\nI wanted to try and find a trading solution for PART-TIME TRADERS.\r\n\r\nLet me be the first to say, my solution is not 100% perfect. You can put lipstick on a pig but it’s still a pig, if you understand me. This is not an easy fix. But I wanted to try, and to be honest, timing in Forex is everything.\r\n\r\nMy initial solution, and it is on-going, has been my savior to my trading performance this year so far, with just 6/7 weeks left to go.\r\n\r\nI introduced PART-TIME TRADER TRADES now called POSITION TRADES at the start of 2016. This trading style is based upon my FUNDAMENTAL longer-term market views. These trades are LIMIT ORDER entry trades with very wide stops based on ATR (Average True Range) limits, mostly weekly limits, but sometimes monthly limits, using Fibonacci levels and trend lines to set stops and limits.\r\n\r\nThey have been, due to the way that the Forex market has been held to ransom inside tight trading ranges for most of the year, creating very choppy market conditions very successful.\r\n\r\nI am NOT saying that these trades and the way I trade them because I still have to assess trades all the time and close off trades early etc.… are the “B all and end all” holy grail for PART-TIME TRADERS but they are a step in the right direction.\r\n\r\nThese trades also suit FULL-TIME traders who want to take a longer-term perspective.\r\n\r\nHow successful have they been?\r\n\r\nHow do I measure their success?\r\n\r\nVery simply, when launching these trades, a year ago I created a page on my website landing page at <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a> called PART TIME FOREX TRADERS it is part of my drop down menu at the top of my landing page.\r\n\r\nI tried my best to define my target audience and I posted a cash flow projection, it is still there today and I have subsequently added quarterly reviews during the year.\r\n\r\nBelow is the initial cash flow projection that was posted the first week of January 2016.\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/POS-TRADE-PROJ-2016.png\"><img class=\"aligncenter size-large wp-image-8627\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/POS-TRADE-PROJ-2016-818x1024.png\" alt=\"pos-trade-proj-2016\" width=\"818\" height=\"1024\" /></a>\r\n\r\n&nbsp;\r\n\r\nI am not going to spend a great deal of time on this. Basically for the purpose of this section of the DRIVE THRU blog will focus solely on MINI LOT traders.\r\n\r\nMy suggestion on day 1, was to open a broker account with USD$7,500. At the end of the year based only on single lot trades after costs to trade and my PREMIUM SERVICE annual subscription my goal was to grow the broker account from USD$7,500 to $15,052.50 by the end of 2016.\r\n\r\n<strong><u>That would be to double your initial investment after ALL costs were taken into consideration</u></strong>\r\n\r\n<strong> </strong>How have I faired with this quest?\r\n\r\nBelow is the latest spreadsheet update post I made to my website on the 31<sup>st</sup> October 2016. On my website <a href=\"http://www.weeklyfxdivethru.com\">www.weeklyfxdivethru.com</a> landing page under the heading “PART TIME FOREX TRADERS” all my updates throughout 2016 can be found together with more information and background to these trade set ups.\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/POS-PROJ-2016-Q3.png\"><img class=\"aligncenter size-large wp-image-8630\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/POS-PROJ-2016-Q3-1024x806.png\" alt=\"pos-proj-2016-q3\" width=\"1024\" height=\"806\" /></a>\r\n\r\n&nbsp;\r\n\r\nAt the end of last month, the cumulative position now shows that the original account with USD$7,500 now stands at net USD$13,868.00.\r\n\r\nThere is just under USD$1,200 in income left to achieve (1,200 pips over the months of November and December). It is a tall order.\r\n\r\nWhat about my macro thoughts on the performance of the POSITION TRADES?\r\n\r\nMy thoughts are very straightforward: -\r\n<ol>\r\n 	<li>This (2016) has been an extremely difficult year to trade in.</li>\r\n 	<li>My approach to trading this year has been almost a 180 degree turn on 2015 trading.</li>\r\n 	<li>Features and factors that prompted me to start this trading style, namely central bank diversification never became as big of an issue as I thought it would have been. I had to re-focus and adapt the POSITION trade set ups to compensate for this.</li>\r\n 	<li>This review of style, manifested itself in the facts that my projection was for just 90 trades in the year. So far I have completed 146 trades (more than 50% more than anticipated). My profits per trade are less and my losses per trade are well under projection.</li>\r\n 	<li>I am, given the above points 1-4, delighted to have achieved this performance so far.</li>\r\n 	<li>Have I delivered what I set out for PART-TIME traders? Not 100%. I have delivered profits but the timings for closing of trades is still an issue. I cannot let losses grow or profits diminish due to a trading style. I have to 100% trade the price action in the market as I see it.</li>\r\n 	<li>What about 2017?I will continue this trading style next year, but I will review my other trading styles. It is impossible to predict what type of a trading year 2017 will be, apart from the fact it contains 365 days and that there will always be a forex market every day the market is open.</li>\r\n</ol>\r\nIf you would like additional supporting data or detail about the performance and the tabs on my website landing page at <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a> do not answer your questions, contact me directly and I will supply the trading data you require. There are NO secrets. There are many, many spreadsheets detailing performance trade by trade and by trade and by trading style, way too many to place in this blog. If you are interested in the PREMIUM SERVICE and want more information, all you have to do is ask.\r\n\r\n<strong> </strong>\r\n<ol start=\"3\">\r\n 	<li><strong> LOOKING BACKWARDS: THE FX MARKET PLACE</strong></li>\r\n</ol>\r\n<strong>LAST WEEK’S FOREX and ECONOMIC NEWS – MY VIEWS:</strong>\r\n\r\nU.S. PRESIDENTIAL ELECTION:\r\n\r\nAs I stated at the beginning of the blog THE DONALD (#45) is the next U.S. President.\r\n\r\nThe market reaction was opposite to what all the highly paid no skin in the market bank analysts had predicted, as soon as the markets realized that a TRUMP Presidency means SPEND, SPEND, SPEND and SPEND some more. In the U.S. with the great divide between Wall Street and Main Street firmly in situ (and those differences will be cemented in even more with THE DONALD in place at The White House), it was really hard to imagine that around 2.00AM EST on election night, the DOW was under a LIMIT DOWN and negative 830 points. Yet at the open it rallied to all-time highs.\r\n\r\nSince THE DONALD became President-elect, copper is on “Walter White” meth’s and the Bonds are dropping like a series of lead balloons across the financial centres. Gold is falling and Oil is starting to crater, regardless of the now laughable OPEC production cut to be formally written into the files of the “pointless and pathetic” at the end of this month.\r\n\r\nYup… welcome to the new world order; TRUMPISM and TRUMPFLATION is here!\r\n\r\nFrom the markets perspective, where money is concerned who gives a rats’ ass about who or what is President. The view is greater freedoms, less regulation, possible repeal of the Dodd-Frank legislation… happy days are here again.\r\n\r\n<strong> </strong>\r\n<ol start=\"4\">\r\n 	<li><strong> LOOKING FORWARDS:</strong><strong> </strong></li>\r\n</ol>\r\n<strong>THIS WEEK’S FOREX and ECONOMIC NEWS – MY VIEWS:</strong><strong> </strong>\r\n\r\n<u>THIS WEEK’S FOREX NEWS THAT INTERESTS ME:</u>\r\n\r\n(There are many more news items related to the Forex Market other than the ones listed below. These are the ones that interest me. You can go to <a href=\"http://www.forexfactory.com\">www.forexfactory.com</a> and <a href=\"http://www.tradingeconomics.com\">www.tradingeconomics.com</a> for a more comprehensive lists of all news events that are Forex related).\r\n\r\nSUNDAY: N/A.\r\n\r\nMONDAY: GBP – Inflation Report Hearings.\r\nMONDAY: NZD – Retail Sales.\r\nMONDAY: AUD – Monetary Policy Meeting Minutes.\r\n\r\nTUESDAY: GBP - CPi.\r\nTUESDAY: NZD – GDT Auction Results.\r\n\r\nWEDNESDAY: GBP – Jobs Data.\r\nWEDNESDAY: USD – PPi.\r\nWEDNESDAY: NZD – PPi.\r\nWEDNESDAY: AUD – Jobs Data.\r\n\r\nTHURSDAY: GBP – Retail Sales.\r\nTHURSDAY: USD – CPi, Core CPi, Philly FED Manufacturing Index.\r\nFRIDAY: CAD – Core CPi.\r\n\r\nA nice mix of high level data this week. Our attentions will be starting to shift once again to the FED, with the will she or wont she raise rates discussion entering all the inter-market chat rooms once again.\r\n\r\nIf she wants job security our little FED ditherer will raise rates in December as expected by the markets, who, are now allegedly 85% on board with a FED increase in December, and next year with TRUMPFLATION on the cards two/three further rises should NOT be ruled out.\r\n\r\nI am still bearish the cable and I am sitting in two short GBP/USD trades that are out of the money…argh!! I am therefore hoping for Theresa May or better still my mate Boris to say something bad this weekend regarding the BREXIT that causes cable to slip below 1.1500 preferably…. I live in hope!!\r\n\r\nWe must also bear in mind that the BREXIT will continue to offer volatility moving forward given the high court ruling on article 50.  I would not be surprised to see EUROZONE players getting involved in the media sound-bytes, plus we are now in the same month as the alleged proposed OPEC OIL production cut (he laughs as he types!!), this should also start to weigh in on the markets.\r\n\r\n<u> </u>\r\n\r\nMY THOUGHTS ON “THE DONALDS” FALLOUT:\r\n\r\nNow before we all start popping Krug as if it were Dom Pérignon, there is much, much more to consider.\r\n\r\nLet me just list a few of the initiatives that THE DONALD has in mind based upon what I would refer to as his ELECTION MANIFESTO.\r\n<ol>\r\n 	<li><strong>THE WALL</strong>: not a Roger Waters version, but the one to be erected between the U.S. and Mexico.</li>\r\n 	<li><strong>THE AFFORDABLE HEATLH CARE ACT</strong> (aka OBAMACARE): to be repealed.</li>\r\n 	<li><strong>NAFTA</strong> (North American Free Trade Agreement): To be torn up.</li>\r\n 	<li><strong>NATO</strong> (North Atlantic Treaty Organisation): re-financed, replaced or eradicated.</li>\r\n 	<li><strong>IRAN NUCLEAR AGREEMENT</strong>: To be torn up… revoked, repealed whatever.</li>\r\n 	<li><strong>THE FED</strong>: Janet Yellen to be replaced by someone who will normalize U.S. interest rates at a faster pace. THE DONALD wants an aggressive little fecker in the FED as chairman.</li>\r\n</ol>\r\nNow enjoy it while you can… but let’s take a step back and look at this short list that springs to mind.\r\n\r\nIf you think for one moment that putting these action items into play is going to fuel a continued rally in equities good luck to you. The honeymoon will be over very soon when realism sets in.\r\n\r\nTHE DONALD is NOT a career politician. He is an arrogant, will say anything to get a deal done salesman. His path forward is not laid in GOLD… far from it.\r\n\r\nI talk a lot about INTER-MARKET CORRELATIONS (PREMIUM SERVICE subscribers there is an item about this in the Training section). They are important to me to give me confidence in a move. Correlations confirm moves. They are vital to the way I trade and how I approach my day. Like my dogs (Ozzy and Aoife), I have my morning routines.\r\n\r\nBefore I take a really deep look at my charts and refresh myself with how my LIVE trades are behaving.\r\n\r\nI scan the following: -\r\n<p style=\"text-align: center;\">GOLD - /GC#0 (re AUD/USD and NZD/USD)\r\nOIL - /CL#0 (re USD/CAD)\r\nCOPPER - /HGZ2 (re AUD/USD)\r\n10 and 30 YEAR US BONDS - /ZN#0 and /ZB#0 (re USD/JPY and DXY)\r\nS&amp;P - /ES#0 (re AUD/JPY)\r\nDXY – USD index</p>\r\n<p style=\"text-align: center;\">USD/CAD</p>\r\n<p style=\"text-align: center;\">USD/SEK – this pair is very sensitive and a great leading indicator.</p>\r\n<p style=\"text-align: center;\">AUD/USD</p>\r\n<p style=\"text-align: center;\">I will quickly scan the inverse relationships of: -</p>\r\n<p style=\"text-align: center;\">EUR/USD and USD/CHF\r\nEUR/GBP and GBP/CHF\r\nS&amp;P and AUD/JPY</p>\r\n<p style=\"text-align: center;\">I will look at GOLD versus the AUD and CHF currencies as a whole some days as well.</p>\r\n<p style=\"text-align: center;\">Started in 2015, if OIL is up or down I look at USD/CAD, USD/NOK and sometimes\r\nUSD/MXN (of late this has been more of a THE DONALD trade) to check the movement correlation.</p>\r\nBy verifying and checking all of these and it takes me 15 minutes for a fast appraisal, this gives me the market overview I require from which to trade from.\r\n\r\nI will guarantee you right now, with the list of THE DONALD’s manifesto objectives listed above, correlations over the next 6-9 months will be more off than on.\r\n\r\nMy point here is that I strongly believe that we have continued uncertainty from a U.S. domestic perspective and it will be a riot on U.S. Foreign Policy.\r\n\r\nOver the coming weeks I will be burning the midnight oil to gather more and more opinions to counsel me further or trade against, which is the norm more often than not.\r\n\r\nThis market will stop dead in its track and reverse. This is not a super heavy oil tanker that requires 25 miles to stop and turn around…. be careful.\r\n\r\n<u> </u>\r\n\r\n<u>FOREX TRADING IN GENERAL TERMS THIS WEEK:</u>\r\n\r\nBasically keep it nimble. I do NOT trust these equity markets at these very lofty heights.\r\n\r\nBottom line just be careful. Very small position sizes if you are participating.\r\n\r\n<u>\r\nTHIS COMING WEEK - THE USD MAJORS (MY THOUGHTS): </u>\r\n\r\n(In this section I have as usual kept my charts as minimalist as possible. With regards to charting in my opinion less is more!! I hope that they are clear. All readers regardless of level of experience should be able to follow my thoughts from my comments to the levels on the charts with ease)\r\n\r\nMy comments are contained on the charts.\r\n\r\nEUR/USD - Weekly Closing Price: 1.0847\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/EURUSD-D-12112016.png\"><img class=\"aligncenter size-large wp-image-8639\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/EURUSD-D-12112016-1024x477.png\" alt=\"eurusd-d-12112016\" width=\"1024\" height=\"477\" /></a>\r\n\r\nGBP/USD - Weekly Closing Price: 1.2594\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/GBPUSD-D-12112016.png\"><img class=\"aligncenter size-large wp-image-8640\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/GBPUSD-D-12112016-1024x477.png\" alt=\"gbpusd-d-12112016\" width=\"1024\" height=\"477\" /></a>\r\n\r\nAUD/USD - Weekly Closing Price: 0.7539\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/AUDUSD-D-12112016.png\"><img class=\"aligncenter size-large wp-image-8638\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/AUDUSD-D-12112016-1024x477.png\" alt=\"audusd-d-12112016\" width=\"1024\" height=\"477\" /></a>\r\n\r\nNZD/USD - Weekly Closing Price: 0.7115\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/NZDUSD-D-12112016.png\"><img class=\"aligncenter size-large wp-image-8641\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/NZDUSD-D-12112016-1024x477.png\" alt=\"nzdusd-d-12112016\" width=\"1024\" height=\"477\" /></a>\r\n\r\nUSD/CAD - Weekly Closing Price: 1.3538\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/USDCAD-D-12112016.png\"><img class=\"aligncenter size-large wp-image-8642\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/USDCAD-D-12112016-1024x477.png\" alt=\"usdcad-d-12112016\" width=\"1024\" height=\"477\" /></a>\r\n\r\nUSD/CHF - Weekly Closing Price: 0.9870\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/USDCHF-D-12112016.png\"><img class=\"aligncenter size-large wp-image-8643\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/USDCHF-D-12112016-1024x477.png\" alt=\"usdchf-d-12112016\" width=\"1024\" height=\"477\" /></a>\r\n\r\nUSD/JPY - Weekly Closing Price: 106.59\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/USDJPY-D-12112016.png\"><img class=\"aligncenter size-large wp-image-8644\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/USDJPY-D-12112016-1024x477.png\" alt=\"usdjpy-d-12112016\" width=\"1024\" height=\"477\" /></a>\r\n\r\n<strong> </strong>\r\n\r\n<strong> </strong><strong> </strong>\r\n<ol start=\"5\">\r\n 	<li><strong> PREMIUM SERVICE SUBSCRIBER EXCLUSIVE CONTENT AREA:</strong></li>\r\n</ol>\r\n<ol start=\"6\">\r\n 	<li><strong> MY CLOSING THOUGHTS:</strong></li>\r\n</ol>\r\nWell, if you survived last week you are now good to go.\r\n\r\nThe equity markets look toppy to me so be careful as we will have huge “RIPS” and “DIPS” being at so many extremes all at the same time (DOW, S&amp;P, BONDS, COPPER).\r\n\r\nBe conscious that BREXIT and the up-coming election in ITALY, could send the markets into mega confusion as protest votes are the way to go nowadays.\r\n\r\nA big rejection of constitutional reform in ITALY on 4<sup>th</sup> December could send the EUROZONE and the single currency into a tail-spin. Add a bit of BORIS JOHNSON and THE DONALD into the mix and volatility is the name of the game…. never mind “HUGE” uncertainty about Matteo Renzi the Italian Prime Minister.\r\n\r\nSo once again, the sword of Damocles hangs over the markets. I have to mention OPEC… what a joke. If they actually do something that is measurable quantifiable and accountable never mind identifiable, yes, look out of your windows and catch the squadrons of pink pigs flying overhead…. need I say anymore?\r\n\r\nAs usual…\r\n\r\nAlways remember longevity in Forex trading can only be achieved through trading with good RISK and MONEY MANAGEMENT, and above all set your position sizes in accordance with the size of your account and allow for some flexibility.\r\n\r\nTake care,\r\n\r\nScott Pickering\r\nThe Pip Accumulator\r\n<a href=\"http://weeklyfxdrivethru.com/disclaimer/\">http://weeklyfxdrivethru.com/disclaimer/\r\n</a>BLOG VERSION: FREE NEWSLETTER\r\nDATE: 12<sup>th</sup> November 2016.','THE DONALD SWOOPS IN TO DC …','','inherit','closed','closed','','8647-revision-v1','','','2016-11-12 14:09:50','2016-11-12 19:09:50','',8647,'http://weeklyfxdrivethru.com/8647-revision-v1/',0,'revision','',0),(8652,1,'2016-11-18 16:54:36','2016-11-18 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21:11:32','',6965,'http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/POS1-19112016.png',0,'attachment','image/png',0),(8659,1,'2016-11-18 16:54:56','2016-11-18 21:54:56','','pos2-19112016','','inherit','open','closed','','pos2-19112016','','','2016-11-19 16:11:39','2016-11-19 21:11:39','',6965,'http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/POS2-19112016.png',0,'attachment','image/png',0),(8660,1,'2016-11-18 16:54:59','2016-11-18 21:54:59','','limit-orders-19112016','','inherit','open','closed','','limit-orders-19112016','','','2016-11-19 15:58:20','2016-11-19 20:58:20','',8671,'http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/LIMIT-ORDERS-19112016.png',0,'attachment','image/png',0),(8661,1,'2016-11-18 16:55:02','2016-11-18 21:55:02','','live-trades-19112016','','inherit','open','closed','','live-trades-19112016','','','2016-11-19 15:58:01','2016-11-19 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20:55:32','',8671,'http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/GBPUSD-DAILY-19112016.png',0,'attachment','image/png',0),(8665,1,'2016-11-18 16:59:52','2016-11-18 21:59:52','','nzdusd-d-19112016','','inherit','open','closed','','nzdusd-d-19112016','','','2016-11-19 15:55:54','2016-11-19 20:55:54','',8671,'http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/NZDUSD-D-19112016.png',0,'attachment','image/png',0),(8666,1,'2016-11-18 16:59:56','2016-11-18 21:59:56','','usdcad-d-19112016','','inherit','open','closed','','usdcad-d-19112016','','','2016-11-19 15:56:05','2016-11-19 20:56:05','',8671,'http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/USDCAD-D-19112016.png',0,'attachment','image/png',0),(8667,1,'2016-11-18 16:59:59','2016-11-18 21:59:59','','usdchf-d-19112016','','inherit','open','closed','','usdchf-d-19112016','','','2016-11-19 15:56:16','2016-11-19 20:56:16','',8671,'http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/USDCHF-D-19112016.png',0,'attachment','image/png',0),(8668,1,'2016-11-18 17:00:06','2016-11-18 22:00:06','','usdjpy-d-19112016','','inherit','open','closed','','usdjpy-d-19112016','','','2016-11-19 15:56:30','2016-11-19 20:56:30','',8671,'http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/USDJPY-D-19112016.png',0,'attachment','image/png',0),(8670,1,'2016-11-19 15:38:56','2016-11-19 20:38:56','','2016-ps-net-perf-to-12112016','','inherit','open','closed','','2016-ps-net-perf-to-12112016','','','2016-11-19 15:50:38','2016-11-19 20:50:38','',8671,'http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/2016-PS-NET-PERF-to-12112016.png',0,'attachment','image/png',0),(8671,1,'2016-11-19 16:00:24','2016-11-19 21:00:24','&nbsp;\r\n\r\n<strong> </strong>\r\n<ol>\r\n 	<li><strong> INTRODUCTION:</strong></li>\r\n</ol>\r\nWow, that was some week for the USD. There were huge moves with the USD/JPY and EUR/USD about 6% and 3% respectively against the USD, quite incredible.\r\n\r\nHowever, it’s all fueled on promises from THE DONALD that he is going to spend, spend, spend on U.S. infrastructure, this is going to fuel inflation and increase U.S. debt. Add to this a now probable FED rate hike and bingo… the markets love it. The long bonds have had a massive sell off creating the correlated weakness with the USD/JPY sending that pair higher by almost 1,000 pips since THE DONALD ‘s victory 10 days ago. A welcome early Christmas present for Japanese Prime Minister Abe.\r\n\r\nAll of this has sent the FX, Equity and Bond markets on a Walter White meth trip. I trade and only trade FX, but my economics background tells me that for the inflation related to THE DONALD spend would take at least two years to work its way through. So, all the talk of the FED chomping at the bit about inflation maybe just a little premature. Whilst FX is a future pricing mechanism two years in advance and on a TRUMP promise to boot, I would not be banking on a 100% guarantee of results.\r\n\r\nI have read that market analysts are now predicting three maybe four rate increases quickly if the TRUMP spending goes through. FFS, the Fed is led (presently) by the biggest fecking dove on the planet. I just cannot see “the ditherer” signing up to four rate hikes in 2017. I think, and it’s probably proven, Janet Yellen likes to be behind the curve. I just cannot see multiple rate hikes next year without some economic evidence. THE DONALD doesn’t get into The White House until the end of January 2017. From my perspective, it’s all a bit premature.\r\n\r\nYou must admire the moves in the emini’s (S&amp;P futures) though. After the massive drop when it was evident that HILLARY had lost the election, it was LIMIT DOWN and a low of circa. 2.028. Then THE DONALD inflation move against what all the analysts had said would happen, just started to gather traction. From the lows of 2.028 the emini’s went on a non-stop rampage hitting on Friday 18<sup>th</sup> the level of 2.186 which was the 127.2% Fibonacci extension off the LIMIT DOWN lows.\r\n\r\nAll I can say is “What goes up must come down”.\r\n\r\nMoving on…\r\n\r\n&nbsp;\r\n<ol>\r\n 	<li>Review of my existing Trade Styles 2016.</li>\r\n 	<li>New definitions of Trade Styles for 2017.</li>\r\n 	<li>Revisions / updates to web pages at <a href=\"http://www.weeklyfxdrivethru.com\">weeklyfxdrivethru.com</a></li>\r\n 	<li>Trading review of 2016.</li>\r\n 	<li>Marketing Plan for 2017.</li>\r\n 	<li>Revision of Trading Brokers for 2017 versus 2016.</li>\r\n 	<li>Revision of Trade Plan for trading “cross-rates” in 2017Therefore, I have enough to keep me occupied.</li>\r\n</ol>\r\nBack to trading…\r\n\r\nIt was a good week from a pip perspective with +498 new profitable pips added. All other parameters are well within my RISK PARAMETERS.\r\n\r\nI remain very positive with FX Trading for 2017, as I think it has all the possibilities to be what I thought 2016 was going to be from a trading perspective.  I am however, still a little spooked by the market’s reaction to the TRUMP victory. We have gone a long, long way on a promise and the moves are 100% not what any bank, financial institution predicted would be the outcome from a TRUMP election victory. We all know that on many occasions banks sell retail traders against their books and personally, I find some bank financial information great to go against in the opposite direction, but on this occasion, for them all to be arseways on the effect of a TRUMP victory should be concerning if NOT alarming.\r\n\r\nI am ready for 2017, I see no reason why I cannot generate my 10,000 pips objective for PREMIUM SERVICE subscribers. I showed early this year that I could adapt my style and approach very, very quickly to the market conditions. I suffered from a 72-hour power outage, and ISP’s out of action for 24 hours all because of severe ice storms earlier this year. I took severe account losses as these outages were while the BREXIT became a huge issue when Boris Johnson the then London Mayor announced that he was supporting the BREXIT. I was run over on several trades that caused real pain. In essence, I started the trading year from March 1<sup>st</sup>. Therefore, to be almost +13,000 pips for 2016 so far I am happy with.\r\n\r\nDo not forget…\r\n\r\nJust a quick reminder; each month, I am giving away a FREE PREMIUM SERVICE 4-week subscription. This gives the winner 100% access to the PREMIUM SERVICE website and ALL my PREMIUM SERVICE communications from my suggested trade set-ups to market commentaries and my thoughts.\r\n\r\nTo stand a chance of being the next subscription winner, you need to subscribe to receive this free blog via my website <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a><strong> </strong>\r\n\r\n<strong> </strong>You are automatically entered into a free monthly draw, once you’ve subscribed. Each month one lucky blog subscriber will receive a free subscription to the PREMIUM SERVICE.\r\n\r\n<strong> </strong>\r\n<ol start=\"2\">\r\n 	<li><strong> THE PREMIUM SERVICE:</strong></li>\r\n</ol>\r\n<u>WHAT IS THE PREMIUM SERVICE:</u>\r\n\r\nThe PREMIUM SERVICE is a subscriber, fee based trade set-up option for Forex traders regardless of experience or background. I provide traders suggested trades, and some market commentary related to open trades or factors within the overall market that have my interest.\r\n\r\nFull details of the PREMIUM SERVICE and the various trade styles plus how suggested trade set-ups are communicated can be found on my website landing page at <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a> by selecting THE PREMIUM SERVICE tab.\r\n\r\nAdditional information can be found by clicking TESTIMONIALS, PART-TIME TRADERS and FX PROMOTIONS tabs. To subscribe to THE PREMIUM SERVICE you will require a credit card.\r\n\r\n<u> </u>\r\n\r\n<u>PREMIUM SERVICE SUBSCRIPTION COSTS:</u>\r\n\r\nDetails of features and benefits of a PREMIUM SERVICE subscription can be found on my website landing page at <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a> under the dropdown tab at the top of the page entitled HISTORY &amp; PERFORMANCE OF THE PREMIUM SERVICE. To subscribe follow the SUBSCRIBE HERE tab.\r\n\r\nPREMIUM SERVICE subscription costs are as follows: -\r\n\r\nCAD$240.00 - 4 weeks (1 month)\r\nCAD$500.00 - 10 weeks (3 months)\r\nCAD$750.00 - 20 weeks (6 months)\r\nCAD$1,250.00 - 40 weeks (12 months)\r\n<u>PLUS</u>: Existing PLATINUM MEMBERS (annual subscribers) can re-subscribe for a further 12 months for CAD$1,000.00\r\n\r\nI work for about 40 weeks a year. Subscriptions are based on 40 published blogs of the WEEKLY FX DRIVE THRU per year. For the remaining 10 weeks, I am around tweeting, posting and managing existing LIVE trades, although my market activity is reduced.\r\n\r\n<u> </u>\r\n\r\n<u>PREMIUM SERVICE PERFORMANCE:</u>\r\n\r\nPRESENT AND HISTORICAL QUICK PREMIUM SERVICE STATS:\r\n\r\nTHIS MONTH SO FAR: +1,192 pips\r\nYEAR TO DATE TOTAL: +12,810 pips\r\n\r\nNET PIPS 2015:       +10,686 pips\r\nNET PIPS 2014:       +11,209 pips\r\n\r\nBelow, for additional information, I show the net position of THE PREMIUM SERVICE performance for 2016. On my website landing page <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a> under the heading “HISTORY &amp; PERFORMANCE” there are more reports providing more historic trading information.\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/2016-PS-NET-PERF-to-12112016.png\"><img class=\"aligncenter size-large wp-image-8670\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/2016-PS-NET-PERF-to-12112016-943x1024.png\" alt=\"2016-ps-net-perf-to-12112016\" width=\"943\" height=\"1024\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\nPART-TIME TRADER (POSITION) TRADES:\r\n\r\nAt the end of 2015, having listened to many of my subscribers and from a market survey that I undertook, I wanted to try and address those Forex traders who would consider themselves to be a PART-TIME trader for whatever reason.\r\n\r\nPART-TIME FOREX TRADERS fall between a rock and a hard place.  It is very, very difficult with limited access to computers due to full-time employment or limited access to a computer due time constraints, to have a voice when trading.\r\n\r\nNow more than ever you really need to be 24 x 5 with your devices to keep on top of things.\r\n\r\nI wanted to try and find a trading solution for PART-TIME TRADERS.\r\n\r\nLet me be the first to say, my solution is not 100% perfect. You can put lipstick on a pig but it’s still a pig, if you understand me. This is not an easy fix. But I wanted to try, and to be honest, timing in Forex is everything.\r\n\r\nMy initial solution, and it is on-going, has been my savior to my trading performance this year so far, with just 6/7 weeks left to go.\r\n\r\nI introduced PART-TIME TRADER TRADES now called POSITION TRADES at the start of 2016. This trading style is based upon my FUNDAMENTAL longer-term market views. These trades are LIMIT ORDER entry trades with very wide stops based on ATR (Average True Range) limits, mostly weekly limits, but sometimes monthly limits, using Fibonacci levels and trend lines to set stops and limits.\r\n\r\nThey have been, due to the way that the Forex market has been held to ransom inside tight trading ranges for most of the year, creating very choppy market conditions very successful.\r\n\r\nI am NOT saying that these trades and the way I trade them because I still have to assess trades all the time and close off trades early etc.… are the “B all and end all” holy grail for PART-TIME TRADERS but they are a step in the right direction.\r\n\r\nThese trades also suit FULL-TIME traders who want to take a longer-term perspective.\r\n\r\nHow successful have they been?\r\n\r\nHow do I measure their success?\r\n\r\nVery simply, when launching these trades, a year ago I created a page on my website landing page at <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a> called PART TIME FOREX TRADERS it is part of my drop down menu at the top of my landing page.\r\n\r\nI tried my best to define my target audience and I posted a cash flow projection, it is still there today and I have subsequently added quarterly reviews during the year.\r\n\r\nBelow is the initial cash flow projection that was posted the first week of January 2016.\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/POS-TRADE-PROJ-2016.png\"><img class=\"aligncenter size-large wp-image-8627\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/POS-TRADE-PROJ-2016-818x1024.png\" alt=\"pos-trade-proj-2016\" width=\"818\" height=\"1024\" /></a>\r\n\r\n&nbsp;\r\n\r\nI am not going to spend a great deal of time on this. Basically for the purpose of this section of the DRIVE THRU blog will focus solely on MINI LOT traders.\r\n\r\nMy suggestion on day 1, was to open a broker account with USD$7,500. At the end of the year based only on single lot trades after costs to trade and my PREMIUM SERVICE annual subscription my goal was to grow the broker account from USD$7,500 to $15,052.50 by the end of 2016.\r\n\r\n<strong><u>That would be to double your initial investment after ALL costs were taken into consideration</u></strong>\r\n\r\nHow have I faired with this quest?\r\n\r\nBelow is the latest spreadsheet update post I made to my website on the 31<sup>st</sup> October 2016. On my website <a href=\"http://www.weeklyfxdivethru.com\">www.weeklyfxdivethru.com</a> landing page under the heading “PART TIME FOREX TRADERS” all my updates throughout 2016 can be found together with more information and background to these trade set ups.\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/POS-PROJ-2016-Q3.png\"><img class=\"aligncenter size-large wp-image-8630\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/POS-PROJ-2016-Q3-1024x806.png\" alt=\"pos-proj-2016-q3\" width=\"1024\" height=\"806\" /></a>\r\n\r\nAt the end of last month, the cumulative position now shows that the original account with USD$7,500 now stands at net USD$13,868.00.\r\n\r\nThere is just under USD$1,200 in income left to achieve (1,200 pips over the months of November and December). It is a tall order.\r\n\r\nWhat about my macro thoughts on the performance of the POSITION TRADES?\r\n\r\nMy thoughts are very straightforward: -\r\n<ol>\r\n 	<li>This (2016) has been an extremely difficult year to trade in.</li>\r\n 	<li>My approach to trading this year has been almost a 180 degree turn on 2015 trading.</li>\r\n 	<li>Features and factors that prompted me to start this trading style, namely central bank diversification never became as big of an issue as I thought it would have been. I had to re-focus and adapt the POSITION trade set ups to compensate for this.</li>\r\n 	<li>This review of style, manifested itself in the facts that my projection was for just 90 trades in the year. So far I have completed 146 trades (more than 50% more than anticipated). My profits per trade are less and my losses per trade are well under projection.</li>\r\n 	<li>I am, given the above points 1-4, delighted to have achieved this performance so far.</li>\r\n 	<li>Have I delivered what I set out for PART-TIME traders? Not 100%. I have delivered profits but the timings for closing of trades is still an issue. I cannot let losses grow or profits diminish due to a trading style. I have to 100% trade the price action in the market as I see it.</li>\r\n 	<li>What about 2017?I will continue this trading style next year, but I will review my other trading styles. It is impossible to predict what type of a trading year 2017 will be, apart from the fact it contains 365 days and that there will always be a forex market every day the market is open.</li>\r\n</ol>\r\nIf you would like additional supporting data or detail about the performance and the tabs on my website landing page at <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a> do not answer your questions, contact me directly and I will supply the trading data you require. There are NO secrets. There are many, many spreadsheets detailing performance trade by trade and by trade and by trading style, way too many to place in this blog. If you are interested in the PREMIUM SERVICE and want more information, all you have to do is ask.\r\n\r\n<strong> </strong>\r\n<ol start=\"3\">\r\n 	<li><strong> LOOKING BACKWARDS: THE FX MARKET PLACE</strong></li>\r\n</ol>\r\n<strong>LAST WEEK’S FOREX and ECONOMIC NEWS – MY VIEWS:</strong>\r\n\r\n30 YEAR U.S. T-Bond / DXY / USD/JPY:\r\n\r\nCorrelations do matter.\r\n\r\nThat was a title of a blog that I wrote back in 2014, I think that we were on vacation in Las Vegas at the time when I penned that little ditty.\r\n\r\nIt is just as true now as it was then. NO matter what we as traders think, the market will do what the market does. I focus on Forex. However, inter-market relationships matter and the push in one market is a pull in another and they usually all correlate as a domino effect takes place.\r\n\r\nWhilst, some correlations are off at the moment, or maybe not as strong, the selloff in U.S. long bonds related to the DXY and the USD/JPY is fixed and solid.\r\n\r\nI can pontificate here for pages about how I think these moves are predicated on bulls**t that may not happen and that I think that the moves are way overdone and extreme to say the least, it is was it is.\r\n\r\nThe weird thing is…\r\n\r\nI have for the past week not attempted to trade the USD/JPY apart from a few personal scalps on the night of the U.S. election results. The 1,000 pip move higher has passed by me. Why? I have let my own beliefs and thoughts about this move cloud my judgement. I don’t believe that this move is sustainable and I am expecting a sharp / painful reversal at any time.\r\n\r\nMy problem…\r\n\r\nJanet Yellen has now fanned the fire by virtually stating that the FED will raise interest rates next month. This has fueled the USD (DXY) and this has sparked greater weakness in the USD/JPY and this in turn has pushed the long bonds lower.  It’s all connected.\r\n\r\nAfter the election, it was inflation hopes that sparked the long bond selloff. I didn’t buy the longevity of that trade. So, I missed the JPY moves.\r\n\r\nNow the FED has triggered the next stage and I will NOT chase the JPY.\r\n\r\nMy point here is that you cannot be in every trade and sometimes trades you want to be in you must just watch and let trades go by because you cannot get a decent pullback to obtain a value entry.\r\n\r\nLast week there were three specific pairs that I wanted to establish positions in but I have yet to have my LIMIT ORDER entries triggered and I am still waiting. My entries were close to going LIVE but never actually did: -\r\n\r\nUSD/SEK – just on a tear. Pullbacks are so shallow; I have adjusted my entries twice and I may as well give up.\r\n\r\nUSD/CHF – I had a FLASH TRADE trigger at what I thought at the time was a weak entry. I banked $$$ and re-set my entries at better support levels. I am still waiting and totally frustrated as I want to establish a core long position with this pair.\r\n\r\nUSD/CAD – missed my entry by 4 pips and it is now trading well over 100 pips higher.\r\n\r\nSo, it has been a very frustrating and annoying time for me this past week despite adding almost 500 pips to the monthly total.\r\n\r\n&nbsp;\r\n\r\nTHE EUROZONE:\r\n\r\nOne currency that has been under pressure this past week or so is the single currency. The EUR/USD has moved about 600 pips lower since the U.S. election. Thankfully, I have grabbed bits and pieces along the way with this drop.\r\n\r\nThe word on the street is that Italian Prime Minister Renzi is going to lose the constitutional reform vote on December 4<sup>th</sup>. All votes at the moment, have taken on the mantle of being protest votes and it looks like the Italian vote will be no different\r\n\r\nA “NO” vote would, in my opinion, cause a Renzi resignation, and more uncertainty in the EUROZONE. Hence the single currency is under pressure now as the populist / anti-establishment / let’s have change vote gathers pace.\r\n\r\nWe have Austrian, French, Greek, Dutch and German votes on the horizon through to Q2 2017. It will get dirty and nasty.\r\n\r\nThis is now the long overdue payback time from the people for the failed German induced austerity measures that crippled the EUROZONE.\r\n\r\nThere is complete denial out of Brussels, but the populist vote in the EUROZONE is gathering massive momentum.\r\n\r\nI predict that 2017 will be dominated not solely by THE DONALD but just as much by the EUROZONE as it implodes. I also predict that the likes of Hollande and Merkel will be out. The two primary architects of the EUROZONE problems will not stand again.\r\n\r\n&nbsp;\r\n\r\nBREXIT and THE CABLE:\r\n\r\nFor the past 10 days or so, I have reached analysis paralysis with regards to the GBP. My fundamental views as a result have turned, at least I need convincing to go back again.\r\n\r\nWhy?\r\n\r\nRemarkable as this sounds and, although I am not yet 100% on board, but it is weighing heavily on my thoughts, the cable is now perhaps a safety trade given the EUROZONE issues.\r\n\r\nHere are my thoughts below behind this change. Some are more finalized than others, therefore they are not ALL work in progress but collectively they are sufficient for me to take a step back for now: -\r\n<ol>\r\n 	<li>The EUROZONE election issues (above).</li>\r\n 	<li>The BREXIT will affect the EUROZONE as much as the UK.</li>\r\n 	<li>The UK economy for all the fear mongering carried out ahead of the BREXIT vote by the REMAIN believers has NOT imploded. Yes, some data is mixed but the promised implosion has just NOT happened. I know there are issues ahead but for now, the end of the UK did NOT happen. This may change when greater data information feeds through.</li>\r\n 	<li>Economically the UK is resilient and strong and it can manage its own affairs moving forward, despite BREXIT rulings and timings.</li>\r\n 	<li>The EUROZONE cannot save itself because of itself. One step forwards, two steps backwards or kick the can down the road is all that the EUROZONE can offer. It has NO coordinated approach on practically everything.</li>\r\n 	<li>The usual flight to safety for institutions is the CHF. This is costly at 0.75% from the SNB for overnight deposits. Deposits may sit for a day or two but a longer-term solution is required and even with BREXIT the UK is seen as a better location, a great option worthy of consideration.</li>\r\n 	<li>I know, and fully realise that BREXIT issues will come into play, and these issues could potentially drive the cable one way or another and override the move that was in existence at the time.</li>\r\n</ol>\r\nI am not saying that I think cable has bottomed, but I am now struggling to think that moves to parity, 1.1000, 1.1500 are NOT going to happen. I do think that we should tag the 1.2080 lows and then I think that we are done.\r\n\r\nObviously, this is just my opinion. Having now written this in black and white and published my thoughts, the GBP/USD will probably head sub parity!!\r\n\r\nThe bottom line is after taking a -40-pip loss on a EUR/GBP short (Friday), plus also on Friday, I closed out two GBP/USD shorts for a grand total of +20 pips combined to clear me out completely from cable trades. I am out and until I get over my analysis paralysis I WILL NOT be going back to cable.\r\n\r\n<strong> </strong>\r\n<ol start=\"4\">\r\n 	<li><strong> LOOKING FORWARDS:</strong><strong> </strong></li>\r\n</ol>\r\n<strong>THIS WEEK’S FOREX and ECONOMIC NEWS – MY VIEWS:</strong>\r\n\r\n<u>THIS WEEK’S FOREX NEWS THAT INTERESTS ME:</u>\r\n\r\n(There are many more news items related to the Forex Market other than the ones listed below. These are the ones that interest me. You can go to <a href=\"http://www.forexfactory.com\">www.forexfactory.com</a> and <a href=\"http://www.tradingeconomics.com\">www.tradingeconomics.com</a> for a more comprehensive lists of all news events that are Forex related).\r\n\r\nSUNDAY: N/A.\r\n\r\nMONDAY: EUR – Mario Draghi (ECB) speaks.\r\nMONDAY: NZD – Retail Sales.\r\n\r\nTUESDAY: NZD – PPi.\r\n\r\nWEDNESDAY: USD – FOMC Meeting Minutes.\r\n\r\nTHURSDAY: N/A.\r\n\r\nFRIDAY: N/A.\r\n\r\nThere is the Thanksgiving holiday on Thursday and “Black” Friday on Friday so from a trading perspective it will be probably more like a 3-day week as many traders take Black Friday as a holiday as well.\r\n\r\nNothing excites me about this batch of economic data.\r\n\r\nI do however want to re-iterate what I wrote last week regarding the fallout from THE DONALD’s victory.\r\n\r\n<u> </u>\r\n\r\n<em>MY THOUGHTS ON “THE DONALDS” FALLOUT:</em>\r\n\r\n<em>Now before we all start popping Krug as if it were Dom </em><em>Pérignon</em><em>, there is much, much more to consider.</em>\r\n\r\n<em>Let me just list a few of the initiatives that THE DONALD has in mind based upon what I would refer to as his ELECTION MANIFESTO.</em><em> </em>\r\n<ol>\r\n 	<li><strong><em>THE WALL</em></strong><em></em><em>: not a Roger Waters version, but the one to be erected between the U.S. and Mexico.</em>&nbsp;</li>\r\n 	<li><strong><em>THE AFFORDABLE HEATLH CARE ACT</em></strong><em></em><em> (aka OBAMACARE): to be repealed.</em>&nbsp;</li>\r\n 	<li><strong><em>NAFTA</em></strong><em></em><em> (North American Free Trade Agreement): To be torn up.</em>&nbsp;</li>\r\n 	<li><strong><em>NATO</em></strong><em></em><em> (North Atlantic Treaty Organisation): re-financed, replaced or eradicated.</em>&nbsp;</li>\r\n 	<li><strong><em>IRAN NUCLEAR AGREEMENT</em></strong><em></em><em>: To be torn up… revoked, repealed whatever.</em>&nbsp;</li>\r\n 	<li><strong><em>THE FED</em></strong><em>: Janet Yellen to be replaced by someone who will normalize U.S. interest rates at a faster pace. THE DONALD wants an aggressive little fecker in the FED as chairman.</em></li>\r\n</ol>\r\n&nbsp;\r\n\r\nAll the above is still as valid this week as it was last week in my opinion.\r\n\r\nWe must be careful as this market will reverse as quickly as it shoots higher. All these moves we have seen are on a promise, not facts. Nothing has been implemented.\r\n\r\nAs mentioned before from the S&amp;P futures being LIMIT DOWN at 2.028 it has rallied to the 127.6% Fibonacci extension at 2.186 in 6 working days…. quite remarkable and all on a promise.\r\n\r\n<u> </u>\r\n\r\n<u>THIS COMING WEEK - THE USD MAJORS (MY THOUGHTS): </u>\r\n\r\n(In this section I have as usual kept my charts as minimalist as possible. With regards to charting in my opinion less is more!! I hope that they are clear. All readers regardless of level of experience should be able to follow my thoughts from my comments to the levels on the charts with ease)\r\n\r\nMy comments are contained on the charts.\r\n\r\nEUR/USD - Weekly Closing Price: 1.0582\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/EURUSD-D-19112016.png\"><img class=\"aligncenter size-large wp-image-8663\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/EURUSD-D-19112016-1024x477.png\" alt=\"eurusd-d-19112016\" width=\"1024\" height=\"477\" /></a>\r\n\r\nGBP/USD - Weekly Closing Price: 1.2342\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/GBPUSD-DAILY-19112016.png\"><img class=\"aligncenter size-large wp-image-8664\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/GBPUSD-DAILY-19112016-1024x477.png\" alt=\"gbpusd-daily-19112016\" width=\"1024\" height=\"477\" /></a>\r\n\r\nAUD/USD - Weekly Closing Price: 0.7330\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/AUDUSD-D-19112016.png\"><img class=\"aligncenter size-large wp-image-8662\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/AUDUSD-D-19112016-1024x477.png\" alt=\"audusd-d-19112016\" width=\"1024\" height=\"477\" /></a>\r\n\r\nNZD/USD - Weekly Closing Price: 0.7006\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/NZDUSD-D-19112016.png\"><img class=\"aligncenter size-large wp-image-8665\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/NZDUSD-D-19112016-1024x477.png\" alt=\"nzdusd-d-19112016\" width=\"1024\" height=\"477\" /></a>\r\n\r\nUSD/CAD - Weekly Closing Price: 1.3495\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/USDCAD-D-19112016.png\"><img class=\"aligncenter size-large wp-image-8666\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/USDCAD-D-19112016-1024x477.png\" alt=\"usdcad-d-19112016\" width=\"1024\" height=\"477\" /></a>\r\n\r\nUSD/CHF - Weekly Closing Price: 1.0097\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/USDCHF-D-19112016.png\"><img class=\"aligncenter size-large wp-image-8667\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/USDCHF-D-19112016-1024x477.png\" alt=\"usdchf-d-19112016\" width=\"1024\" height=\"477\" /></a>\r\n\r\nUSD/JPY - Weekly Closing Price: 110.84\r\n\r\n<strong> <a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/USDJPY-D-19112016.png\"><img class=\"aligncenter size-large wp-image-8668\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/USDJPY-D-19112016-1024x477.png\" alt=\"usdjpy-d-19112016\" width=\"1024\" height=\"477\" /></a></strong>\r\n\r\n<strong> </strong>\r\n<ol start=\"5\">\r\n 	<li><strong> PREMIUM SERVICE SUBSCRIBER EXCLUSIVE CONTENT AREA:</strong></li>\r\n</ol>\r\nTRADING REVIEW:\r\n\r\nAs I have mentioned in pips I have been more of an observer than a participant in recent moves. I am a non-believer and this has taken hold of my brain.\r\n\r\nWe added just under 500 pips last week, which is fine it could have been so many more had trades triggered and being honest had I been a believer in the move. I have missed plenty of opportunities. The truth is I can’t be in every trade and I won’t be in any trade unless I believe in the move.\r\n\r\nThe S&amp;P move has been spectacular, there is no denying this fact. However, at the back of my mind with increasing rates and a stronger dollar there must be pressure on the stock market. Hence why I am practically sidelined.\r\n\r\nTrading psychology is huge, there are several books published about how the mindset of trader works. I am forever being linked to gambling each day in the Forex market. One old friend quirked once that “Forex Trading is just like the lottery; the only difference is that with the lottery you have a chance”.\r\n\r\nLongevity in trading is the key and is to me it is paramount above all. This year has shown me that without question that in today’s markets taking a longer-term perspective is the safest and most profitable route to adopt. If you want to trade on 3, 5 and 15 minute intervals and scalp trades it is a chop fest that frankly I do not want to get involved with anymore.\r\n\r\nI will be, as you know reviewing my approach and TRADE STYLES for 2017.\r\n\r\nLooking at the day to day nitty-gritty aspect of trading I can not see anything that tells me that the markets will be much different than now. I can still foresee that we will because of the way we receive data be in a chop fest on up to hourly trading cycles. Trading when anything can hit you news wise on hourly charts has been at times a lottery… a gamble.\r\n\r\nWhen you take yourself into a longer-term perspective you go into a trade positioned sized correctly for the long haul based upon FUNDAMENTAL views you take yourself out of the 60-minute noise.\r\n\r\nEven doing this I made some great returns in 2016, I still have a lot of work left to do in this area to get it correct. I have NOT mastered the art of adding second / third trades profitably to initial trade positions. Only when a pair goes in the wrong direction it appears I am good at adding additional trades when in a loss situation to build up a CORE on the belief that the trade will reverse in line with my FUNDAMENTAL view. The AUD/NZD is a classic example of this during the year. It pulls back I add positions it goes up I sell with profits it reaches resistances and then pulls back once again and I repeat the cycle once again. I have yet to fulfil my trade target objective and it looks like it may be 2017 before we do so.\r\n\r\nFor next year CORE POSITIONS is going to be something that I focus more on. Working core positions with North American brokers is my preference. My reason for saying this is that they do not allow multiple positions with one currency pair in the same account. So, in effect you have a cost average, your entry price moves up and down as you add and take away position size from the overall trade. So right now, instead of my broker account showing say 6 x AUD/NZD long trades your broker account would have just one trade with your entry price now being a cost average. It is cost averaged based on FIFO (First in First out). Most of you guys are NOT North American based and operate accounts with a trade by trade system and that is what I will be using.\r\n\r\nI am looking at building CORE POSITIONS with a combination of buy/sell stops as well as buy/sell limit entries. I think that trading with the MOMENTUM can offer a different perspective. It is not my favourite approach as I prefer to enter with a value behind me. I am looking at every option and I have been trying different styles through demo accounts over the past three months. The bottom line next year is still work in progress.\r\n\r\nMoving on to my CORE TRADES: -\r\n\r\nAUD/NZD: – This pair represents a shampoo bottle… “Wash–Rinse–Repeat”.\r\n\r\nWe have made some great money on this pair this year but the “BIG” move has yet to happen in my opinion. This trade will spill over to 2017 without a doubt. The weakness in the AUD is driving this pair and the cross-rate effect is keeping the NZD elevated as a result…argh!\r\n\r\nThe NZD is a small currency and cross-rates do push and pull this currency about with greater influences than the other majors. The EUR/NZD, NZD/JPY and AUD/NZD can affect moves with the NZD/USD. Right now, I believe that the cross-rates are doing their thing. Once the NZD/USD breaks below 0.6980 I do think that the move to mid 60’s is on and this should spur the AUD/NZD higher. My thoughts are that the NZD will drop faster than the AUD.\r\nIt\'s a very annoying pair at times it looks really bullish then it switches bearish very quickly.\r\n\r\nNZD/USD: – I have started to build, and I will be adding again into the end of the year.\r\n\r\nI am looking to establish AUD/USD and USD/CHF core positions before the end of the year.\r\n\r\n&nbsp;\r\n\r\nPERISCOPE (UPDATE):\r\n\r\nI must give time to this. I have been diverted away from my desk quite a bit of late.\r\n\r\nPERISCOPE PROPOSAL - My proposal is initially to do a 30-minute presentation on a Monday afternoon my time about 2PM EST. I can be totally flexible with this time. If anyone wants to have a PERISCOPE session and this time is difficult please advise so I can review.\r\n\r\n<strong> </strong>\r\n\r\n<strong>TRADES REVIEW:</strong>\r\n\r\nThe excel spreadsheets below details current LIVE and pending LIMIT ORDER trades: -\r\n\r\n<u><a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/LIVE-TRADES-19112016.png\"><img class=\"aligncenter size-large wp-image-8661\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/LIVE-TRADES-19112016-753x1024.png\" alt=\"live-trades-19112016\" width=\"753\" height=\"1024\" /></a></u>\r\n\r\n<u> </u>\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/LIMIT-ORDERS-19112016.png\"><img class=\"aligncenter size-large wp-image-8660\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/LIMIT-ORDERS-19112016-725x1024.png\" alt=\"limit-orders-19112016\" width=\"725\" height=\"1024\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n<ol start=\"6\">\r\n 	<li><strong> MY CLOSING THOUGHTS:</strong></li>\r\n</ol>\r\nFrom the outside looking in one would say that this is a one-way market. It certainly looks that way when you glance at the daily and weekly candles. The moves seem to get going in Asia and when the U.S. comes on line we chop about inside 30-40 pip ranges in the majors with a few exceptions every now and then. The moves starting in Asia makes a lot of sense because of the effect that the JPY had on the USD moves last week.\r\n\r\nI am a non-believer in this market move, it is way overdone in my opinion and I think that equities will pullback. The USD is still in demand now that the FED looks like a rate hike is going to happen.\r\n\r\nBecause of the shortened week next week in the U.S. I would be very careful about getting too heavy in trades. Thinner liquidity from lunch-time (EST) Wednesday will hit the markets. It is not just a one-day thanksgiving. It is 2.5 / 3 days for many people. Bear this is mind when trading. Over recent years there have been examples of many wicked moves on low trading volumes.\r\n\r\nSo once again, the sword of Damocles STILL hangs over the markets.\r\n\r\nAs usual…\r\n\r\nAlways remember longevity in Forex trading can only be achieved through trading with good RISK and MONEY MANAGEMENT, and above all set your position sizes in accordance with the size of your account and allow for some flexibility.\r\n\r\nTake care,\r\n\r\nScott Pickering\r\nThe Pip Accumulator\r\n<a href=\"http://weeklyfxdrivethru.com/disclaimer/\">http://weeklyfxdrivethru.com/disclaimer/\r\n</a>BLOG VERSION: #120 PREMIUM SERVICE\r\nDATE: 19<sup>th</sup> November 2016','“WHAT GOES UP… MUST COME DOWN”','','publish','open','closed','','goes-must-comes','','','2016-11-20 06:29:23','2016-11-20 11:29:23','',0,'http://weeklyfxdrivethru.com/?post_type=member_posts&#038;p=8671',0,'member_posts','',0),(8672,1,'2016-11-19 16:00:24','2016-11-19 21:00:24','&nbsp;\r\n\r\n<strong> </strong>\r\n<ol>\r\n 	<li><strong> INTRODUCTION:</strong></li>\r\n</ol>\r\nWow, that was some week for the USD. There were huge moves with the USD/JPY and EUR/USD about 6% and 3% respectively against the USD, quite incredible.\r\n\r\nHowever, it’s all fueled on promises from THE DONALD that he is going to spend, spend, spend on U.S. infrastructure, this is going to fuel inflation and increase U.S. debt. Add to this a now probable FED rate hike and bingo… the markets love it. The long bonds have had a massive sell off creating the correlated weakness with the USD/JPY sending that pair higher by almost 1,000 pips since THE DONALD ‘s victory 10 days ago. A welcome early Christmas present for Japanese Prime Minister Abe.\r\n\r\nAll of this has sent the FX, Equity and Bond markets on a Walter White meth trip. I trade and only trade FX, but my economics background tells me that for the inflation related to THE DONALD spend would take at least two years to work its way through. So, all the talk of the FED chomping at the bit about inflation maybe just a little premature. Whilst FX is a future pricing mechanism two years in advance and on a TRUMP promise to boot, I would not be banking on a 100% guarantee of results.\r\n\r\nI have read that market analysts are now predicting three maybe four rate increases quickly if the TRUMP spending goes through. FFS, the Fed is led (presently) by the biggest fecking dove on the planet. I just cannot see “the ditherer” signing up to four rate hikes in 2017. I think, and it’s probably proven, Janet Yellen likes to be behind the curve. I just cannot see multiple rate hikes next year without some economic evidence. THE DONALD doesn’t get into The White House until the end of January 2017. From my perspective, it’s all a bit premature.\r\n\r\nYou must admire the moves in the emini’s (S&amp;P futures) though. After the massive drop when it was evident that HILLARY had lost the election, it was LIMIT DOWN and a low of circa. 2.028. Then THE DONALD inflation move against what all the analysts had said would happen, just started to gather traction. From the lows of 2.028 the emini’s went on a non-stop rampage hitting on Friday 18<sup>th</sup> the level of 2.186 which was the 127.2% Fibonacci extension off the LIMIT DOWN lows.\r\n\r\nAll I can say is “What goes up must come down”.\r\n\r\nMoving on…\r\n\r\n&nbsp;\r\n<ol>\r\n 	<li>Review of my existing Trade Styles 2016.</li>\r\n 	<li>New definitions of Trade Styles for 2017.</li>\r\n 	<li>Revisions / updates to web pages at <a href=\"http://www.weeklyfxdrivethru.com\">weeklyfxdrivethru.com</a></li>\r\n 	<li>Trading review of 2016.</li>\r\n 	<li>Marketing Plan for 2017.</li>\r\n 	<li>Revision of Trading Brokers for 2017 versus 2016.</li>\r\n 	<li>Revision of Trade Plan for trading “cross-rates” in 2017\r\n\r\nTherefore, I have enough to keep me occupied.</li>\r\n</ol>\r\nBack to trading…\r\n\r\nIt was a good week from a pip perspective with +498 new profitable pips added. All other parameters are well within my RISK PARAMETERS.\r\n\r\nI remain very positive with FX Trading for 2017, as I think it has all the possibilities to be what I thought 2016 was going to be from a trading perspective.  I am however, still a little spooked by the market’s reaction to the TRUMP victory. We have gone a long, long way on a promise and the moves are 100% not what any bank, financial institution predicted would be the outcome from a TRUMP election victory. We all know that on many occasions banks sell retail traders against their books and personally, I find some bank financial information great to go against in the opposite direction, but on this occasion, for them all to be arseways on the effect of a TRUMP victory should be concerning if NOT alarming.\r\n\r\nI am ready for 2017, I see no reason why I cannot generate my 10,000 pips objective for PREMIUM SERVICE subscribers. I showed early this year that I could adapt my style and approach very, very quickly to the market conditions. I suffered from a 72-hour power outage, and ISP’s out of action for 24 hours all because of severe ice storms earlier this year. I took severe account losses as these outages were while the BREXIT became a huge issue when Boris Johnson the then London Mayor announced that he was supporting the BREXIT. I was run over on several trades that caused real pain. In essence, I started the trading year from March 1<sup>st</sup>. Therefore, to be almost +13,000 pips for 2016 so far I am happy with.\r\n\r\nDo not forget…\r\n\r\nJust a quick reminder; each month, I am giving away a FREE PREMIUM SERVICE 4-week subscription. This gives the winner 100% access to the PREMIUM SERVICE website and ALL my PREMIUM SERVICE communications from my suggested trade set-ups to market commentaries and my thoughts.\r\n\r\nTo stand a chance of being the next subscription winner, you need to subscribe to receive this free blog via my website <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a><strong> </strong>\r\n\r\n<strong> </strong>You are automatically entered into a free monthly draw, once you’ve subscribed. Each month one lucky blog subscriber will receive a free subscription to the PREMIUM SERVICE.\r\n\r\n<strong> </strong>\r\n<ol start=\"2\">\r\n 	<li><strong> THE PREMIUM SERVICE:</strong></li>\r\n</ol>\r\n<u>WHAT IS THE PREMIUM SERVICE:</u>\r\n\r\nThe PREMIUM SERVICE is a subscriber, fee based trade set-up option for Forex traders regardless of experience or background. I provide traders suggested trades, and some market commentary related to open trades or factors within the overall market that have my interest.\r\n\r\nFull details of the PREMIUM SERVICE and the various trade styles plus how suggested trade set-ups are communicated can be found on my website landing page at <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a> by selecting THE PREMIUM SERVICE tab.\r\n\r\nAdditional information can be found by clicking TESTIMONIALS, PART-TIME TRADERS and FX PROMOTIONS tabs. To subscribe to THE PREMIUM SERVICE you will require a credit card.\r\n\r\n<u> </u>\r\n\r\n<u>PREMIUM SERVICE SUBSCRIPTION COSTS:</u>\r\n\r\nDetails of features and benefits of a PREMIUM SERVICE subscription can be found on my website landing page at <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a> under the dropdown tab at the top of the page entitled HISTORY &amp; PERFORMANCE OF THE PREMIUM SERVICE. To subscribe follow the SUBSCRIBE HERE tab.\r\n\r\nPREMIUM SERVICE subscription costs are as follows: -\r\n\r\nCAD$240.00 - 4 weeks (1 month)\r\nCAD$500.00 - 10 weeks (3 months)\r\nCAD$750.00 - 20 weeks (6 months)\r\nCAD$1,250.00 - 40 weeks (12 months)\r\n<u>PLUS</u>: Existing PLATINUM MEMBERS (annual subscribers) can re-subscribe for a further 12 months for CAD$1,000.00\r\n\r\nI work for about 40 weeks a year. Subscriptions are based on 40 published blogs of the WEEKLY FX DRIVE THRU per year. For the remaining 10 weeks, I am around tweeting, posting and managing existing LIVE trades, although my market activity is reduced.\r\n\r\n<u> </u>\r\n\r\n<u>PREMIUM SERVICE PERFORMANCE:</u>\r\n\r\nPRESENT AND HISTORICAL QUICK PREMIUM SERVICE STATS:\r\n\r\nTHIS MONTH SO FAR: +1,192 pips\r\nYEAR TO DATE TOTAL: +12,810 pips\r\n\r\nNET PIPS 2015:       +10,686 pips\r\nNET PIPS 2014:       +11,209 pips\r\n\r\nBelow, for additional information, I show the net position of THE PREMIUM SERVICE performance for 2016. On my website landing page <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a> under the heading “HISTORY &amp; PERFORMANCE” there are more reports providing more historic trading information.\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/2016-PS-NET-PERF-to-12112016.png\"><img class=\"aligncenter size-large wp-image-8670\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/2016-PS-NET-PERF-to-12112016-943x1024.png\" alt=\"2016-ps-net-perf-to-12112016\" width=\"943\" height=\"1024\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\nPART-TIME TRADER (POSITION) TRADES:\r\n\r\nAt the end of 2015, having listened to many of my subscribers and from a market survey that I undertook, I wanted to try and address those Forex traders who would consider themselves to be a PART-TIME trader for whatever reason.\r\n\r\nPART-TIME FOREX TRADERS fall between a rock and a hard place.  It is very, very difficult with limited access to computers due to full-time employment or limited access to a computer due time constraints, to have a voice when trading.\r\n\r\nNow more than ever you really need to be 24 x 5 with your devices to keep on top of things.\r\n\r\nI wanted to try and find a trading solution for PART-TIME TRADERS.\r\n\r\nLet me be the first to say, my solution is not 100% perfect. You can put lipstick on a pig but it’s still a pig, if you understand me. This is not an easy fix. But I wanted to try, and to be honest, timing in Forex is everything.\r\n\r\nMy initial solution, and it is on-going, has been my savior to my trading performance this year so far, with just 6/7 weeks left to go.\r\n\r\nI introduced PART-TIME TRADER TRADES now called POSITION TRADES at the start of 2016. This trading style is based upon my FUNDAMENTAL longer-term market views. These trades are LIMIT ORDER entry trades with very wide stops based on ATR (Average True Range) limits, mostly weekly limits, but sometimes monthly limits, using Fibonacci levels and trend lines to set stops and limits.\r\n\r\nThey have been, due to the way that the Forex market has been held to ransom inside tight trading ranges for most of the year, creating very choppy market conditions very successful.\r\n\r\nI am NOT saying that these trades and the way I trade them because I still have to assess trades all the time and close off trades early etc.… are the “B all and end all” holy grail for PART-TIME TRADERS but they are a step in the right direction.\r\n\r\nThese trades also suit FULL-TIME traders who want to take a longer-term perspective.\r\n\r\nHow successful have they been?\r\n\r\nHow do I measure their success?\r\n\r\nVery simply, when launching these trades, a year ago I created a page on my website landing page at <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a> called PART TIME FOREX TRADERS it is part of my drop down menu at the top of my landing page.\r\n\r\nI tried my best to define my target audience and I posted a cash flow projection, it is still there today and I have subsequently added quarterly reviews during the year.\r\n\r\nBelow is the initial cash flow projection that was posted the first week of January 2016.\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/POS-TRADE-PROJ-2016.png\"><img class=\"aligncenter size-large wp-image-8627\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/POS-TRADE-PROJ-2016-818x1024.png\" alt=\"pos-trade-proj-2016\" width=\"818\" height=\"1024\" /></a>\r\n\r\n&nbsp;\r\n\r\nI am not going to spend a great deal of time on this. Basically for the purpose of this section of the DRIVE THRU blog will focus solely on MINI LOT traders.\r\n\r\nMy suggestion on day 1, was to open a broker account with USD$7,500. At the end of the year based only on single lot trades after costs to trade and my PREMIUM SERVICE annual subscription my goal was to grow the broker account from USD$7,500 to $15,052.50 by the end of 2016.\r\n\r\n<strong><u>That would be to double your initial investment after ALL costs were taken into consideration</u></strong>\r\n\r\nHow have I faired with this quest?\r\n\r\nBelow is the latest spreadsheet update post I made to my website on the 31<sup>st</sup> October 2016. On my website <a href=\"http://www.weeklyfxdivethru.com\">www.weeklyfxdivethru.com</a> landing page under the heading “PART TIME FOREX TRADERS” all my updates throughout 2016 can be found together with more information and background to these trade set ups.\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/POS-PROJ-2016-Q3.png\"><img class=\"aligncenter size-large wp-image-8630\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/POS-PROJ-2016-Q3-1024x806.png\" alt=\"pos-proj-2016-q3\" width=\"1024\" height=\"806\" /></a>\r\n\r\nAt the end of last month, the cumulative position now shows that the original account with USD$7,500 now stands at net USD$13,868.00.\r\n\r\nThere is just under USD$1,200 in income left to achieve (1,200 pips over the months of November and December). It is a tall order.\r\n\r\nWhat about my macro thoughts on the performance of the POSITION TRADES?\r\n\r\nMy thoughts are very straightforward: -\r\n<ol>\r\n 	<li>This (2016) has been an extremely difficult year to trade in.</li>\r\n 	<li>My approach to trading this year has been almost a 180 degree turn on 2015 trading.</li>\r\n 	<li>Features and factors that prompted me to start this trading style, namely central bank diversification never became as big of an issue as I thought it would have been. I had to re-focus and adapt the POSITION trade set ups to compensate for this.</li>\r\n 	<li>This review of style, manifested itself in the facts that my projection was for just 90 trades in the year. So far I have completed 146 trades (more than 50% more than anticipated). My profits per trade are less and my losses per trade are well under projection.</li>\r\n 	<li>I am, given the above points 1-4, delighted to have achieved this performance so far.</li>\r\n 	<li>Have I delivered what I set out for PART-TIME traders? Not 100%. I have delivered profits but the timings for closing of trades is still an issue. I cannot let losses grow or profits diminish due to a trading style. I have to 100% trade the price action in the market as I see it.</li>\r\n 	<li>What about 2017?\r\n\r\nI will continue this trading style next year, but I will review my other trading styles. It is impossible to predict what type of a trading year 2017 will be, apart from the fact it contains 365 days and that there will always be a forex market every day the market is open.</li>\r\n</ol>\r\nIf you would like additional supporting data or detail about the performance and the tabs on my website landing page at <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a> do not answer your questions, contact me directly and I will supply the trading data you require. There are NO secrets. There are many, many spreadsheets detailing performance trade by trade and by trade and by trading style, way too many to place in this blog. If you are interested in the PREMIUM SERVICE and want more information, all you have to do is ask.\r\n\r\n<strong> </strong>\r\n<ol start=\"3\">\r\n 	<li><strong> LOOKING BACKWARDS: THE FX MARKET PLACE</strong></li>\r\n</ol>\r\n<strong>LAST WEEK’S FOREX and ECONOMIC NEWS – MY VIEWS:</strong>\r\n\r\n30 YEAR U.S. T-Bond / DXY / USD/JPY:\r\n\r\nCorrelations do matter.\r\n\r\nThat was a title of a blog that I wrote back in 2014, I think that we were on vacation in Las Vegas at the time when I penned that little ditty.\r\n\r\nIt is just as true now as it was then. NO matter what we as traders think, the market will do what the market does. I focus on Forex. However, inter-market relationships matter and the push in one market is a pull in another and they usually all correlate as a domino effect takes place.\r\n\r\nWhilst, some correlations are off at the moment, or maybe not as strong, the selloff in U.S. long bonds related to the DXY and the USD/JPY is fixed and solid.\r\n\r\nI can pontificate here for pages about how I think these moves are predicated on bulls**t that may not happen and that I think that the moves are way overdone and extreme to say the least, it is was it is.\r\n\r\nThe weird thing is…\r\n\r\nI have for the past week not attempted to trade the USD/JPY apart from a few personal scalps on the night of the U.S. election results. The 1,000 pip move higher has passed by me. Why? I have let my own beliefs and thoughts about this move cloud my judgement. I don’t believe that this move is sustainable and I am expecting a sharp / painful reversal at any time.\r\n\r\nMy problem…\r\n\r\nJanet Yellen has now fanned the fire by virtually stating that the FED will raise interest rates next month. This has fueled the USD (DXY) and this has sparked greater weakness in the USD/JPY and this in turn has pushed the long bonds lower.  It’s all connected.\r\n\r\nAfter the election, it was inflation hopes that sparked the long bond selloff. I didn’t buy the longevity of that trade. So, I missed the JPY moves.\r\n\r\nNow the FED has triggered the next stage and I will NOT chase the JPY.\r\n\r\nMy point here is that you cannot be in every trade and sometimes trades you want to be in you must just watch and let trades go by because you cannot get a decent pullback to obtain a value entry.\r\n\r\nLast week there were three specific pairs that I wanted to establish positions in but I have yet to have my LIMIT ORDER entries triggered and I am still waiting. My entries were close to going LIVE but never actually did: -\r\n\r\nUSD/SEK – just on a tear. Pullbacks are so shallow; I have adjusted my entries twice and I may as well give up.\r\n\r\nUSD/CHF – I had a FLASH TRADE trigger at what I thought at the time was a weak entry. I banked $$$ and re-set my entries at better support levels. I am still waiting and totally frustrated as I want to establish a core long position with this pair.\r\n\r\nUSD/CAD – missed my entry by 4 pips and it is now trading well over 100 pips higher.\r\n\r\nSo, it has been a very frustrating and annoying time for me this past week despite adding almost 500 pips to the monthly total.\r\n\r\n&nbsp;\r\n\r\nTHE EUROZONE:\r\n\r\nOne currency that has been under pressure this past week or so is the single currency. The EUR/USD has moved about 600 pips lower since the U.S. election. Thankfully, I have grabbed bits and pieces along the way with this drop.\r\n\r\nThe word on the street is that Italian Prime Minister Renzi is going to lose the constitutional reform vote on December 4<sup>th</sup>. All votes at the moment, have taken on the mantle of being protest votes and it looks like the Italian vote will be no different\r\n\r\nA “NO” vote would, in my opinion, cause a Renzi resignation, and more uncertainty in the EUROZONE. Hence the single currency is under pressure now as the populist / anti-establishment / let’s have change vote gathers pace.\r\n\r\nWe have Austrian, French, Greek, Dutch and German votes on the horizon through to Q2 2017. It will get dirty and nasty.\r\n\r\nThis is now the long overdue payback time from the people for the failed German induced austerity measures that crippled the EUROZONE.\r\n\r\nThere is complete denial out of Brussels, but the populist vote in the EUROZONE is gathering massive momentum.\r\n\r\nI predict that 2017 will be dominated not solely by THE DONALD but just as much by the EUROZONE as it implodes. I also predict that the likes of Hollande and Merkel will be out. The two primary architects of the EUROZONE problems will not stand again.\r\n\r\n&nbsp;\r\n\r\nBREXIT and THE CABLE:\r\n\r\nFor the past 10 days or so, I have reached analysis paralysis with regards to the GBP. My fundamental views as a result have turned, at least I need convincing to go back again.\r\n\r\nWhy?\r\n\r\nRemarkable as this sounds and, although I am not yet 100% on board, but it is weighing heavily on my thoughts, the cable is now perhaps a safety trade given the EUROZONE issues.\r\n\r\nHere are my thoughts below behind this change. Some are more finalized than others, therefore they are not ALL work in progress but collectively they are sufficient for me to take a step back for now: -\r\n<ol>\r\n 	<li>The EUROZONE election issues (above).</li>\r\n 	<li>The BREXIT will affect the EUROZONE as much as the UK.</li>\r\n 	<li>The UK economy for all the fear mongering carried out ahead of the BREXIT vote by the REMAIN believers has NOT imploded. Yes, some data is mixed but the promised implosion has just NOT happened. I know there are issues ahead but for now, the end of the UK did NOT happen. This may change when greater data information feeds through.</li>\r\n 	<li>Economically the UK is resilient and strong and it can manage its own affairs moving forward, despite BREXIT rulings and timings.</li>\r\n 	<li>The EUROZONE cannot save itself because of itself. One step forwards, two steps backwards or kick the can down the road is all that the EUROZONE can offer. It has NO coordinated approach on practically everything.</li>\r\n 	<li>The usual flight to safety for institutions is the CHF. This is costly at 0.75% from the SNB for overnight deposits. Deposits may sit for a day or two but a longer-term solution is required and even with BREXIT the UK is seen as a better location, a great option worthy of consideration.</li>\r\n 	<li>I know, and fully realise that BREXIT issues will come into play, and these issues could potentially drive the cable one way or another and override the move that was in existence at the time.</li>\r\n</ol>\r\nI am not saying that I think cable has bottomed, but I am now struggling to think that moves to parity, 1.1000, 1.1500 are NOT going to happen. I do think that we should tag the 1.2080 lows and then I think that we are done.\r\n\r\nObviously, this is just my opinion. Having now written this in black and white and published my thoughts, the GBP/USD will probably head sub parity!!\r\n\r\nThe bottom line is after taking a -40-pip loss on a EUR/GBP short (Friday), plus also on Friday, I closed out two GBP/USD shorts for a grand total of +20 pips combined to clear me out completely from cable trades. I am out and until I get over my analysis paralysis I WILL NOT be going back to cable.\r\n\r\n<strong> </strong>\r\n<ol start=\"4\">\r\n 	<li><strong> LOOKING FORWARDS:</strong><strong> </strong></li>\r\n</ol>\r\n<strong>THIS WEEK’S FOREX and ECONOMIC NEWS – MY VIEWS:</strong>\r\n\r\n<u>THIS WEEK’S FOREX NEWS THAT INTERESTS ME:</u>\r\n\r\n(There are many more news items related to the Forex Market other than the ones listed below. These are the ones that interest me. You can go to <a href=\"http://www.forexfactory.com\">www.forexfactory.com</a> and <a href=\"http://www.tradingeconomics.com\">www.tradingeconomics.com</a> for a more comprehensive lists of all news events that are Forex related).\r\n\r\nSUNDAY: N/A.\r\n\r\nMONDAY: EUR – Mario Draghi (ECB) speaks.\r\nMONDAY: NZD – Retail Sales.\r\n\r\nTUESDAY: NZD – PPi.\r\n\r\nWEDNESDAY: USD – FOMC Meeting Minutes.\r\n\r\nTHURSDAY: N/A.\r\n\r\nFRIDAY: N/A.\r\n\r\nThere is the Thanksgiving holiday on Thursday and “Black” Friday on Friday so from a trading perspective it will be probably more like a 3-day week as many traders take Black Friday as a holiday as well.\r\n\r\nNothing excites me about this batch of economic data.\r\n\r\nI do however want to re-iterate what I wrote last week regarding the fallout from THE DONALD’s victory.\r\n\r\n<u> </u>\r\n\r\n<em>MY THOUGHTS ON “THE DONALDS” FALLOUT:</em>\r\n\r\n<em>Now before we all start popping Krug as if it were Dom </em><em>Pérignon</em><em>, there is much, much more to consider.</em>\r\n\r\n<em>Let me just list a few of the initiatives that THE DONALD has in mind based upon what I would refer to as his ELECTION MANIFESTO.</em><em> </em>\r\n<ol>\r\n 	<li><strong><em>THE WALL</em></strong><em>: not a Roger Waters version, but the one to be erected between the U.S. and Mexico.\r\n\r\n</em></li>\r\n 	<li><strong><em>THE AFFORDABLE HEATLH CARE ACT</em></strong><em> (aka OBAMACARE): to be repealed.\r\n\r\n</em></li>\r\n 	<li><strong><em>NAFTA</em></strong><em> (North American Free Trade Agreement): To be torn up.\r\n\r\n</em></li>\r\n 	<li><strong><em>NATO</em></strong><em> (North Atlantic Treaty Organisation): re-financed, replaced or eradicated.\r\n\r\n</em></li>\r\n 	<li><strong><em>IRAN NUCLEAR AGREEMENT</em></strong><em>: To be torn up… revoked, repealed whatever.\r\n\r\n</em></li>\r\n 	<li><strong><em>THE FED</em></strong><em>: Janet Yellen to be replaced by someone who will normalize U.S. interest rates at a faster pace. THE DONALD wants an aggressive little fecker in the FED as chairman.</em></li>\r\n</ol>\r\n&nbsp;\r\n\r\nAll the above is still as valid this week as it was last week in my opinion.\r\n\r\nWe must be careful as this market will reverse as quickly as it shoots higher. All these moves we have seen are on a promise, not facts. Nothing has been implemented.\r\n\r\nAs mentioned before from the S&amp;P futures being LIMIT DOWN at 2.028 it has rallied to the 127.6% Fibonacci extension at 2.186 in 6 working days…. quite remarkable and all on a promise.\r\n\r\n<u> </u>\r\n\r\n<u>THIS COMING WEEK - THE USD MAJORS (MY THOUGHTS): </u>\r\n\r\n(In this section I have as usual kept my charts as minimalist as possible. With regards to charting in my opinion less is more!! I hope that they are clear. All readers regardless of level of experience should be able to follow my thoughts from my comments to the levels on the charts with ease)\r\n\r\nMy comments are contained on the charts.\r\n\r\nEUR/USD - Weekly Closing Price: 1.0582\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/EURUSD-D-19112016.png\"><img class=\"aligncenter size-large wp-image-8663\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/EURUSD-D-19112016-1024x477.png\" alt=\"eurusd-d-19112016\" width=\"1024\" height=\"477\" /></a>\r\n\r\nGBP/USD - Weekly Closing Price: 1.2342\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/GBPUSD-DAILY-19112016.png\"><img class=\"aligncenter size-large wp-image-8664\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/GBPUSD-DAILY-19112016-1024x477.png\" alt=\"gbpusd-daily-19112016\" width=\"1024\" height=\"477\" /></a>\r\n\r\nAUD/USD - Weekly Closing Price: 0.7330\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/AUDUSD-D-19112016.png\"><img class=\"aligncenter size-large wp-image-8662\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/AUDUSD-D-19112016-1024x477.png\" alt=\"audusd-d-19112016\" width=\"1024\" height=\"477\" /></a>\r\n\r\nNZD/USD - Weekly Closing Price: 0.7006\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/NZDUSD-D-19112016.png\"><img class=\"aligncenter size-large wp-image-8665\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/NZDUSD-D-19112016-1024x477.png\" alt=\"nzdusd-d-19112016\" width=\"1024\" height=\"477\" /></a>\r\n\r\nUSD/CAD - Weekly Closing Price: 1.3495\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/USDCAD-D-19112016.png\"><img class=\"aligncenter size-large wp-image-8666\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/USDCAD-D-19112016-1024x477.png\" alt=\"usdcad-d-19112016\" width=\"1024\" height=\"477\" /></a>\r\n\r\nUSD/CHF - Weekly Closing Price: 1.0097\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/USDCHF-D-19112016.png\"><img class=\"aligncenter size-large wp-image-8667\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/USDCHF-D-19112016-1024x477.png\" alt=\"usdchf-d-19112016\" width=\"1024\" height=\"477\" /></a>\r\n\r\nUSD/JPY - Weekly Closing Price: 110.84\r\n\r\n<strong> <a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/USDJPY-D-19112016.png\"><img class=\"aligncenter size-large wp-image-8668\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/USDJPY-D-19112016-1024x477.png\" alt=\"usdjpy-d-19112016\" width=\"1024\" height=\"477\" /></a></strong>\r\n\r\n<strong> </strong>\r\n<ol start=\"5\">\r\n 	<li><strong> PREMIUM SERVICE SUBSCRIBER EXCLUSIVE CONTENT AREA:</strong></li>\r\n</ol>\r\nTRADING REVIEW:\r\n\r\nAs I have mentioned in pips I have been more of an observer than a participant in recent moves. I am a non-believer and this has taken hold of my brain.\r\n\r\nWe added just under 500 pips last week, which is fine it could have been so many more had trades triggered and being honest had I been a believer in the move. I have missed plenty of opportunities. The truth is I can’t be in every trade and I won’t be in any trade unless I believe in the move.\r\n\r\nThe S&amp;P move has been spectacular, there is no denying this fact. However, at the back of my mind with increasing rates and a stronger dollar there must be pressure on the stock market. Hence why I am practically sidelined.\r\n\r\nTrading psychology is huge, there are several books published about how the mindset of trader works. I am forever being linked to gambling each day in the Forex market. One old friend quirked once that “Forex Trading is just like the lottery; the only difference is that with the lottery you have a chance”.\r\n\r\nLongevity in trading is the key and is to me it is paramount above all. This year has shown me that without question that in today’s markets taking a longer-term perspective is the safest and most profitable route to adopt. If you want to trade on 3, 5 and 15 minute intervals and scalp trades it is a chop fest that frankly I do not want to get involved with anymore.\r\n\r\nI will be, as you know reviewing my approach and TRADE STYLES for 2017.\r\n\r\nLooking at the day to day nitty-gritty aspect of trading I can not see anything that tells me that the markets will be much different than now. I can still foresee that we will because of the way we receive data be in a chop fest on up to hourly trading cycles. Trading when anything can hit you news wise on hourly charts has been at times a lottery… a gamble.\r\n\r\nWhen you take yourself into a longer-term perspective you go into a trade positioned sized correctly for the long haul based upon FUNDAMENTAL views you take yourself out of the 60-minute noise.\r\n\r\nEven doing this I made some great returns in 2016, I still have a lot of work left to do in this area to get it correct. I have NOT mastered the art of adding second / third trades profitably to initial trade positions. Only when a pair goes in the wrong direction it appears I am good at adding additional trades when in a loss situation to build up a CORE on the belief that the trade will reverse in line with my FUNDAMENTAL view. The AUD/NZD is a classic example of this during the year. It pulls back I add positions it goes up I sell with profits it reaches resistances and then pulls back once again and I repeat the cycle once again. I have yet to fulfil my trade target objective and it looks like it may be 2017 before we do so.\r\n\r\nFor next year CORE POSITIONS is going to be something that I focus more on. Working core positions with North American brokers is my preference. My reason for saying this is that they do not allow multiple positions with one currency pair in the same account. So, in effect you have a cost average, your entry price moves up and down as you add and take away position size from the overall trade. So right now, instead of my broker account showing say 6 x AUD/NZD long trades your broker account would have just one trade with your entry price now being a cost average. It is cost averaged based on FIFO (First in First out). Most of you guys are NOT North American based and operate accounts with a trade by trade system and that is what I will be using.\r\n\r\nI am looking at building CORE POSITIONS with a combination of buy/sell stops as well as buy/sell limit entries. I think that trading with the MOMENTUM can offer a different perspective. It is not my favourite approach as I prefer to enter with a value behind me. I am looking at every option and I have been trying different styles through demo accounts over the past three months. The bottom line next year is still work in progress.\r\n\r\nMoving on to my CORE TRADES: -\r\n\r\nAUD/NZD: – This pair represents a shampoo bottle… “Wash–Rinse–Repeat”.\r\n\r\nWe have made some great money on this pair this year but the “BIG” move has yet to happen in my opinion. This trade will spill over to 2017 without a doubt. The weakness in the AUD is driving this pair and the cross-rate effect is keeping the NZD elevated as a result…argh!\r\n\r\nThe NZD is a small currency and cross-rates do push and pull this currency about with greater influences than the other majors. The EUR/NZD, NZD/JPY and AUD/NZD can affect moves with the NZD/USD. Right now, I believe that the cross-rates are doing their thing. Once the NZD/USD breaks below 0.6980 I do think that the move to mid 60’s is on and this should spur the AUD/NZD higher. My thoughts are that the NZD will drop faster than the AUD.\r\nIt\'s a very annoying pair at times it looks really bullish then it switches bearish very quickly.\r\n\r\nNZD/USD: – I have started to build, and I will be adding again into the end of the year.\r\n\r\nI am looking to establish AUD/USD and USD/CHF core positions before the end of the year.\r\n\r\n&nbsp;\r\n\r\nPERISCOPE (UPDATE):\r\n\r\nI must give time to this. I have been diverted away from my desk quite a bit of late.\r\n\r\nPERISCOPE PROPOSAL - My proposal is initially to do a 30-minute presentation on a Monday afternoon my time about 2PM EST. I can be totally flexible with this time. If anyone wants to have a PERISCOPE session and this time is difficult please advise so I can review.\r\n\r\n<strong> </strong>\r\n\r\n<strong>TRADES REVIEW:</strong>\r\n\r\nThe excel spreadsheets below details current LIVE and pending LIMIT ORDER trades: -\r\n\r\n<u><a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/LIVE-TRADES-19112016.png\"><img class=\"aligncenter size-large wp-image-8661\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/LIVE-TRADES-19112016-753x1024.png\" alt=\"live-trades-19112016\" width=\"753\" height=\"1024\" /></a></u>\r\n\r\n<u> </u>\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/LIMIT-ORDERS-19112016.png\"><img class=\"aligncenter size-large wp-image-8660\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/LIMIT-ORDERS-19112016-725x1024.png\" alt=\"limit-orders-19112016\" width=\"725\" height=\"1024\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n<ol start=\"6\">\r\n 	<li><strong> MY CLOSING THOUGHTS:</strong></li>\r\n</ol>\r\nFrom the outside looking in one would say that this is a one-way market. It certainly looks that way when you glance at the daily and weekly candles. The moves seem to get going in Asia and when the U.S. comes on line we chop about inside 30-40 pip ranges in the majors with a few exceptions every now and then. The moves starting in Asia makes a lot of sense because of the effect that the JPY had on the USD moves last week.\r\n\r\nI am a non-believer in this market move, it is way overdone in my opinion and I think that equities will pullback. The USD is still in demand now that the FED looks like a rate hike is going to happen.\r\n\r\nBecause of the shortened week next week in the U.S. I would be very careful about getting too heavy in trades. Thinner liquidity from lunch-time (EST) Wednesday will hit the markets. It is not just a one-day thanksgiving. It is 2.5 / 3 days for many people. Bear this is mind when trading. Over recent years there have been examples of many wicked moves on low trading volumes.\r\n\r\nSo once again, the sword of Damocles STILL hangs over the markets.\r\n\r\nAs usual…\r\n\r\nAlways remember longevity in Forex trading can only be achieved through trading with good RISK and MONEY MANAGEMENT, and above all set your position sizes in accordance with the size of your account and allow for some flexibility.\r\n\r\nTake care,\r\n\r\nScott Pickering\r\nThe Pip Accumulator\r\n<a href=\"http://weeklyfxdrivethru.com/disclaimer/\">http://weeklyfxdrivethru.com/disclaimer/\r\n</a>BLOG VERSION: #120 PREMIUM SERVICE\r\nDATE: 19<sup>th</sup> November 2016','“WHAT GOES UP… MUST COMES DOWN”','','inherit','closed','closed','','8671-revision-v1','','','2016-11-19 16:00:24','2016-11-19 21:00:24','',8671,'http://weeklyfxdrivethru.com/8671-revision-v1/',0,'revision','',0),(9059,1,'2017-02-01 07:37:49','2017-02-01 12:37:49','<section class=\"one-sixth first\">\r\n<h4>Total Trades Profit Summaries Archives:</h4>\r\n</section><section class=\"five-sixths\">\r\n<div class=\"one-half first\">\r\n<h2>This Month</h2>\r\n&nbsp;\r\n\r\n</div>\r\n<div class=\"one-half\">\r\n<h2>Year to date</h2>\r\n&nbsp;\r\n<h2>PREVIOUS YEARS</h2>\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/12/PREM-SERV-PROFITS2-2016-COMPLETE.png\"><img class=\"aligncenter size-large wp-image-8802\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/12/PREM-SERV-PROFITS2-2016-COMPLETE-1024x980.png\" alt=\"\" width=\"1024\" height=\"980\" /></a>\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/12/2016-PREM-SERVICE-COMPLETE.png\"><img class=\"aligncenter size-large wp-image-8831\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/12/2016-PREM-SERVICE-COMPLETE-976x1024.png\" alt=\"\" width=\"976\" height=\"1024\" /></a>\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/12/PREM-SERVICE-COMPLETE-2015.png\"><img class=\"aligncenter size-large wp-image-8804\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/12/PREM-SERVICE-COMPLETE-2015-1024x1011.png\" alt=\"\" width=\"1024\" height=\"1011\" /></a>\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/12/PREM-SERV-COMPLETE-2014.png\"><img class=\"aligncenter size-large wp-image-8803\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/12/PREM-SERV-COMPLETE-2014-1024x1001.png\" alt=\"\" width=\"1024\" height=\"1001\" /></a>\r\n\r\n</div>\r\n</section>','Total Trades Profit Summaries','','inherit','closed','closed','','5000-revision-v1','','','2017-02-01 07:37:49','2017-02-01 12:37:49','',5000,'http://weeklyfxdrivethru.com/5000-revision-v1/',0,'revision','',0),(9084,1,'2017-02-11 07:44:23','2017-02-11 12:44:23','','FUN 12022017','','inherit','open','closed','','fun-12022017','','','2017-02-11 16:19:50','2017-02-11 21:19:50','',3106,'http://weeklyfxdrivethru.com/wp-content/uploads/2017/02/FUN-12022017.png',0,'attachment','image/png',0),(8893,1,'2017-01-07 06:57:04','2017-01-07 11:57:04','<section class=\"one-sixth first\">\r\n<h4>Monthly and Annual Consolidated Performance Analysis :</h4>\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</div>\r\n<div class=\"one-half\">\r\n<h2>PREVIOUS YEARS\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/12/CONS-PERF-DEC2016-YTD.png\"><img class=\"aligncenter size-large wp-image-8815\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/12/CONS-PERF-DEC2016-YTD-852x1024.png\" alt=\"\" width=\"852\" height=\"1024\" /></a></h2>\r\n&nbsp;\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/RISK-REWARD-RATIONS-2014-YTD.png\"><img class=\"aligncenter size-large wp-image-8862\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/RISK-REWARD-RATIONS-2014-YTD-811x1024.png\" alt=\"\" width=\"811\" height=\"1024\" /></a>\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/PL-RATIOS-2014-COMPLETE.png\"><img class=\"aligncenter size-large wp-image-8861\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/PL-RATIOS-2014-COMPLETE-726x1024.png\" alt=\"\" width=\"726\" height=\"1024\" /></a>\r\n\r\n&nbsp;\r\n\r\n</div>\r\n</section>','MONTHLY and ANNUAL CONSOLIDATED PERFORMANCE ANALYSIS','','inherit','closed','closed','','5002-revision-v1','','','2017-01-07 06:57:04','2017-01-07 11:57:04','',5002,'http://weeklyfxdrivethru.com/5002-revision-v1/',0,'revision','',0),(9080,1,'2017-02-11 07:43:32','2017-02-11 12:43:32','','ECON DATA 12022017','','inherit','open','closed','','econ-data-12022017','','','2017-02-11 16:08:26','2017-02-11 21:08:26','',9101,'http://weeklyfxdrivethru.com/wp-content/uploads/2017/02/ECON-DATA-12022017.png',0,'attachment','image/png',0),(8678,1,'2016-11-19 16:30:09','2016-11-19 21:30:09','<strong> </strong>\r\n<ol>\r\n 	<li><strong> INTRODUCTION:</strong></li>\r\n</ol>\r\nWow, that was some week for the USD. There were huge moves with the USD/JPY and EUR/USD about 6% and 3% respectively against the USD, quite incredible.\r\n\r\nHowever, it’s all fueled on promises from THE DONALD that he is going to spend, spend, spend on U.S. infrastructure, this is going to fuel inflation and increase U.S. debt. Add to this a now probable FED rate hike and bingo… the markets love it. The long bonds have had a massive sell off creating the correlated weakness with the USD/JPY sending that pair higher by almost 1,000 pips since THE DONALD ‘s victory 10 days ago. A welcome early Christmas present for Japanese Prime Minister Abe.\r\n\r\nAll of this has sent the FX, Equity and Bond markets on a Walter White meth trip. I trade and only trade FX, but my economics background tells me that for the inflation related to THE DONALD spend would take at least two years to work its way through. So, all the talk of the FED chomping at the bit about inflation maybe just a little premature. Whilst FX is a future pricing mechanism two years in advance and on a TRUMP promise to boot, I would not be banking on a 100% guarantee of results.\r\n\r\nI have read that market analysts are now predicting three maybe four rate increases quickly if the TRUMP spending goes through. FFS, the Fed is led (presently) by the biggest fecking dove on the planet. I just cannot see “the ditherer” signing up to four rate hikes in 2017. I think, and it’s probably proven, Janet Yellen likes to be behind the curve. I just cannot see multiple rate hikes next year without some economic evidence. THE DONALD doesn’t get into The White House until the end of January 2017. From my perspective, it’s all a bit premature.\r\n\r\nYou must admire the moves in the emini’s (S&amp;P futures) though. After the massive drop when it was evident that HILLARY had lost the election, it was LIMIT DOWN and a low of circa. 2.028. Then THE DONALD inflation move against what all the analysts had said would happen, just started to gather traction. From the lows of 2.028 the emini’s went on a non-stop rampage hitting on Friday 18<sup>th</sup> the level of 2.186 which was the 127.2% Fibonacci extension off the LIMIT DOWN lows.\r\n\r\nAll I can say is “What goes up must come down”.\r\n\r\nMoving on…\r\n\r\nThis week’s blog is the penultimate release of 2016. After next week, the DRIVE THRU will be on vacation until January 8<sup>th</sup> 2017. For PREMIUM SERVICE subscribers, I will be trading but winding down for the year. I will not be sitting back in an armchair cigar in one hand and a Jack Daniels “Fire” on ice in the other, I have some key goals and objectives to fulfill in the break.\r\n<ol>\r\n 	<li>Review of my existing Trade Styles 2016.</li>\r\n 	<li>New definitions of Trade Styles for 2017.</li>\r\n 	<li>Revisions / updates to web pages at <a href=\"http://www.weeklyfxdrivethru.com\">weeklyfxdrivethru.com</a></li>\r\n 	<li>Trading review of 2016.</li>\r\n 	<li>Marketing Plan for 2017.</li>\r\n 	<li>Revision of Trading Brokers for 2017 versus 2016.</li>\r\n 	<li>Revision of Trade Plan for trading “cross-rates” in 2017.</li>\r\n</ol>\r\nTherefore, I have enough to keep me occupied.\r\n\r\nBack to trading…\r\n\r\nIt was a good week from a pip perspective with +498 new profitable pips added. All other parameters are well within my RISK PARAMETERS.\r\n\r\nI remain very positive with FX Trading for 2017, as I think it has all the possibilities to be what I thought 2016 was going to be from a trading perspective.  I am however, still a little spooked by the market’s reaction to the TRUMP victory. We have gone a long, long way on a promise and the moves are 100% not what any bank, financial institution predicted would be the outcome from a TRUMP election victory. We all know that on many occasions banks sell retail traders against their books and personally, I find some bank financial information great to go against in the opposite direction, but on this occasion, for them all to be arseways on the effect of a TRUMP victory should be concerning if NOT alarming.\r\n\r\nI am ready for 2017, I see no reason why I cannot generate my 10,000 pips objective for PREMIUM SERVICE subscribers. I showed early this year that I could adapt my style and approach very, very quickly to the market conditions. I suffered from a 72-hour power outage, and ISP’s out of action for 24 hours all because of severe ice storms earlier this year. I took severe account losses as these outages were while the BREXIT became a huge issue when Boris Johnson the then London Mayor announced that he was supporting the BREXIT. I was run over on several trades that caused real pain. In essence, I started the trading year from March 1<sup>st</sup>. Therefore, to be almost +13,000 pips for 2016 so far I am happy with.\r\n\r\nDo not forget…\r\n\r\nJust a quick reminder; each month, I am giving away a FREE PREMIUM SERVICE 4-week subscription. This gives the winner 100% access to the PREMIUM SERVICE website and ALL my PREMIUM SERVICE communications from my suggested trade set-ups to market commentaries and my thoughts.\r\n\r\nTo stand a chance of being the next subscription winner, you need to subscribe to receive this free blog via my website <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a><strong>  </strong><strong> </strong>\r\n\r\nYou are automatically entered into a free monthly draw, once you’ve subscribed. Each month one lucky blog subscriber will receive a free subscription to the PREMIUM SERVICE.\r\n\r\n<strong> </strong>\r\n<ol start=\"2\">\r\n 	<li><strong> THE PREMIUM SERVICE:</strong></li>\r\n</ol>\r\n<u>WHAT IS THE PREMIUM SERVICE:</u>\r\n\r\nThe PREMIUM SERVICE is a subscriber, fee based trade set-up option for Forex traders regardless of experience or background. I provide traders suggested trades, and some market commentary related to open trades or factors within the overall market that have my interest.\r\n\r\nFull details of the PREMIUM SERVICE and the various trade styles plus how suggested trade set-ups are communicated can be found on my website landing page at <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a> by selecting THE PREMIUM SERVICE tab.\r\n\r\nAdditional information can be found by clicking TESTIMONIALS, PART-TIME TRADERS and FX PROMOTIONS tabs. To subscribe to THE PREMIUM SERVICE you will require a credit card.\r\n<p style=\"text-align: center;\"><u>PREMIUM SERVICE SUBSCRIPTION COSTS:</u></p>\r\n<p style=\"text-align: center;\">Details of features and benefits of a PREMIUM SERVICE subscription can be found on my website landing page at <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a> under the dropdown tab at the top of the page entitled HISTORY &amp; PERFORMANCE OF THE PREMIUM SERVICE. To subscribe follow the SUBSCRIBE HERE tab.</p>\r\n<p style=\"text-align: center;\">PREMIUM SERVICE subscription costs are as follows: -</p>\r\n<p style=\"text-align: center;\">CAD$240.00 - 4 weeks (1 month)\r\nCAD$500.00 - 10 weeks (3 months)\r\nCAD$750.00 - 20 weeks (6 months)\r\nCAD$1,250.00 - 40 weeks (12 months)\r\n<u>PLUS</u>: Existing PLATINUM MEMBERS (annual subscribers) can re-subscribe for a further 12 months for CAD$1,000.00</p>\r\nI work for about 40 weeks a year. Subscriptions are based on 40 published blogs of the WEEKLY FX DRIVE THRU per year. For the remaining 10 weeks, I am around tweeting, posting and managing existing LIVE trades, although my market activity is reduced.\r\n<p style=\"text-align: center;\"><u>PREMIUM SERVICE PERFORMANCE:</u></p>\r\n<p style=\"text-align: center;\">PRESENT AND HISTORICAL QUICK PREMIUM SERVICE STATS:</p>\r\nTHIS MONTH SO FAR: +1,192 pips\r\nYEAR TO DATE TOTAL: +12,810 pips\r\n<p style=\"text-align: center;\">NET PIPS 2015:       +10,686 pips\r\nNET PIPS 2014:       +11,209 pips</p>\r\nBelow, for additional information, I show the net position of THE PREMIUM SERVICE performance for 2016. On my website landing page <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a> under the heading “HISTORY &amp; PERFORMANCE” there are more reports providing more historic trading information.\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/2016-PS-NET-PERF-to-12112016.png\"><img class=\"aligncenter size-large wp-image-8670\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/2016-PS-NET-PERF-to-12112016-943x1024.png\" alt=\"2016-ps-net-perf-to-12112016\" width=\"943\" height=\"1024\" /></a>\r\n\r\n&nbsp;\r\n\r\nPART-TIME TRADER (POSITION) TRADES:\r\n\r\nAt the end of 2015, having listened to many of my subscribers and from a market survey that I undertook, I wanted to try and address those Forex traders who would consider themselves to be a PART-TIME trader for whatever reason.\r\n\r\nPART-TIME FOREX TRADERS fall between a rock and a hard place.  It is very, very difficult with limited access to computers due to full-time employment or limited access to a computer due time constraints, to have a voice when trading.\r\n\r\nNow more than ever you really need to be 24 x 5 with your devices to keep on top of things.\r\n\r\nI wanted to try and find a trading solution for PART-TIME TRADERS.\r\n\r\nLet me be the first to say, my solution is not 100% perfect. You can put lipstick on a pig but it’s still a pig, if you understand me. This is not an easy fix. But I wanted to try, and to be honest, timing in Forex is everything.\r\n\r\nMy initial solution, and it is on-going, has been my savior to my trading performance this year so far, with just 6/7 weeks left to go.\r\n\r\nI introduced PART-TIME TRADER TRADES now called POSITION TRADES at the start of 2016. This trading style is based upon my FUNDAMENTAL longer-term market views. These trades are LIMIT ORDER entry trades with very wide stops based on ATR (Average True Range) limits, mostly weekly limits, but sometimes monthly limits, using Fibonacci levels and trend lines to set stops and limits.\r\n\r\nThey have been, due to the way that the Forex market has been held to ransom inside tight trading ranges for most of the year, creating very choppy market conditions very successful.\r\n\r\nI am NOT saying that these trades and the way I trade them because I still have to assess trades all the time and close off trades early etc.… are the “B all and end all” holy grail for PART-TIME TRADERS but they are a step in the right direction.\r\n\r\nThese trades also suit FULL-TIME traders who want to take a longer-term perspective.\r\n\r\nHow successful have they been?\r\n\r\nHow do I measure their success?\r\n\r\nVery simply, when launching these trades, a year ago I created a page on my website landing page at <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a> called PART TIME FOREX TRADERS it is part of my drop down menu at the top of my landing page.\r\n\r\nI tried my best to define my target audience and I posted a cash flow projection, it is still there today and I have subsequently added quarterly reviews during the year.\r\n\r\nBelow is the initial cash flow projection that was posted the first week of January 2016.\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/POS-TRADE-PROJ-2016.png\"><img class=\"aligncenter size-large wp-image-8627\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/POS-TRADE-PROJ-2016-818x1024.png\" alt=\"pos-trade-proj-2016\" width=\"818\" height=\"1024\" /></a>\r\n\r\n&nbsp;\r\n\r\nI am not going to spend a great deal of time on this. Basically for the purpose of this section of the DRIVE THRU blog will focus solely on MINI LOT traders.\r\n\r\nMy suggestion on day 1, was to open a broker account with USD$7,500. At the end of the year based only on single lot trades after costs to trade and my PREMIUM SERVICE annual subscription my goal was to grow the broker account from USD$7,500 to $15,052.50 by the end of 2016.\r\n\r\n<strong><u>That would be to double your initial investment after ALL costs were taken into consideration</u></strong>\r\n\r\nHow have I faired with this quest?\r\n\r\nBelow is the latest spreadsheet update post I made to my website on the 31<sup>st</sup> October 2016. On my website <a href=\"http://www.weeklyfxdivethru.com\">www.weeklyfxdivethru.com</a> landing page under the heading “PART TIME FOREX TRADERS” all my updates throughout 2016 can be found together with more information and background to these trade set ups.\r\n\r\n&nbsp;\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/POS-PROJ-2016-Q3.png\"><img class=\"aligncenter size-large wp-image-8630\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/POS-PROJ-2016-Q3-1024x806.png\" alt=\"pos-proj-2016-q3\" width=\"1024\" height=\"806\" /></a>\r\n\r\nAt the end of last month, the cumulative position now shows that the original account with USD$7,500 now stands at net USD$13,868.00.\r\n\r\nThere is just under USD$1,200 in income left to achieve (1,200 pips over the months of November and December). It is a tall order.\r\n\r\nWhat about my macro thoughts on the performance of the POSITION TRADES?\r\n\r\nMy thoughts are very straightforward: -\r\n<ol>\r\n 	<li>This (2016) has been an extremely difficult year to trade in.</li>\r\n 	<li>My approach to trading this year has been almost a 180 degree turn on 2015 trading.</li>\r\n 	<li>Features and factors that prompted me to start this trading style, namely central bank diversification never became as big of an issue as I thought it would have been. I had to re-focus and adapt the POSITION trade set ups to compensate for this.</li>\r\n 	<li>This review of style, manifested itself in the facts that my projection was for just 90 trades in the year. So far I have completed 146 trades (more than 50% more than anticipated). My profits per trade are less and my losses per trade are well under projection.</li>\r\n 	<li>I am, given the above points 1-4, delighted to have achieved this performance so far.</li>\r\n 	<li>Have I delivered what I set out for PART-TIME traders? Not 100%. I have delivered profits but the timings for closing of trades is still an issue. I cannot let losses grow or profits diminish due to a trading style. I have to 100% trade the price action in the market as I see it.</li>\r\n 	<li>What about 2017?I will continue this trading style next year, but I will review my other trading styles. It is impossible to predict what type of a trading year 2017 will be, apart from the fact it contains 365 days and that there will always be a forex market every day the market is open.</li>\r\n</ol>\r\nIf you would like additional supporting data or detail about the performance and the tabs on my website landing page at <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a> do not answer your questions, contact me directly and I will supply the trading data you require. There are NO secrets. There are many, many spreadsheets detailing performance trade by trade and by trade and by trading style, way too many to place in this blog. If you are interested in the PREMIUM SERVICE and want more information, all you have to do is ask.\r\n\r\n<strong> </strong>\r\n<ol start=\"3\">\r\n 	<li><strong> LOOKING BACKWARDS: THE FX MARKET PLACE</strong></li>\r\n</ol>\r\n<strong>LAST WEEK’S FOREX and ECONOMIC NEWS – MY VIEWS:</strong>\r\n\r\n30 YEAR U.S. T-Bond / DXY / USD/JPY:\r\n\r\nCorrelations do matter.\r\n\r\nThat was a title of a blog that I wrote back in 2014, I think that we were on vacation in Las Vegas at the time when I penned that little ditty.\r\n\r\nIt is just as true now as it was then. NO matter what we as traders think, the market will do what the market does. I focus on Forex. However, inter-market relationships matter and the push in one market is a pull in another and they usually all correlate as a domino effect takes place\r\n\r\nWhilst, some correlations are off at the moment, or maybe not as strong, the selloff in U.S. long bonds related to the DXY and the USD/JPY is fixed and solid.\r\n\r\nI can pontificate here for pages about how I think these moves are predicated on bulls**t that may not happen and that I think that the moves are way overdone and extreme to say the least, it is was it is.\r\n\r\nThe weird thing is…\r\n\r\nI have for the past week not attempted to trade the USD/JPY apart from a few personal scalps on the night of the U.S. election results. The 1,000 pip move higher has passed by me. Why? I have let my own beliefs and thoughts about this move cloud my judgement. I don’t believe that this move is sustainable and I am expecting a sharp / painful reversal at any time.\r\n\r\nMy problem…\r\n\r\nJanet Yellen has now fanned the fire by virtually stating that the FED will raise interest rates next month. This has fueled the USD (DXY) and this has sparked greater weakness in the USD/JPY and this in turn has pushed the long bonds lower.  It’s all connected.\r\n\r\nAfter the election, it was inflation hopes that sparked the long bond selloff. I didn’t buy the longevity of that trade. So, I missed the JPY moves.\r\n\r\nNow the FED has triggered the next stage and I will NOT chase the JPY.\r\n\r\nMy point here is that you cannot be in every trade and sometimes trades you want to be in you must just watch and let trades go by because you cannot get a decent pullback to obtain a value entry.\r\n\r\nLast week there were three specific pairs that I wanted to establish positions in but I have yet to have my LIMIT ORDER entries triggered and I am still waiting. My entries were close to going LIVE but never actually did: -\r\n\r\nUSD/SEK – just on a tear. Pullbacks are so shallow; I have adjusted my entries twice and I may as well give up.\r\n\r\nUSD/CHF – I had a FLASH TRADE trigger at what I thought at the time was a weak entry. I banked $$$ and re-set my entries at better support levels. I am still waiting and totally frustrated as I want to establish a core long position with this pair.\r\n\r\nUSD/CAD – missed my entry by 4 pips and it is now trading well over 100 pips higher.\r\n\r\nSo, it has been a very frustrating and annoying time for me this past week despite adding almost 500 pips to the monthly total.\r\n\r\n&nbsp;\r\n\r\nTHE EUROZONE:\r\n\r\nOne currency that has been under pressure this past week or so is the single currency. The EUR/USD has moved about 600 pips lower since the U.S. election. Thankfully, I have grabbed bits and pieces along the way with this drop.\r\n\r\nThe word on the street is that Italian Prime Minister Renzi is going to lose the constitutional reform vote on December 4<sup>th</sup>. All votes at the moment, have taken on the mantle of being protest votes and it looks like the Italian vote will be no different.\r\n\r\nA “NO” vote would, in my opinion, cause a Renzi resignation, and more uncertainty in the EUROZONE. Hence the single currency is under pressure now as the populist / anti-establishment / let’s have change vote gathers pace.\r\n\r\nWe have Austrian, French, Greek, Dutch and German votes on the horizon through to Q2 2017. It will get dirty and nasty.\r\n\r\nThis is now the long overdue payback time from the people for the failed German induced austerity measures that crippled the EUROZONE.\r\n\r\nThere is complete denial out of Brussels, but the populist vote in the EUROZONE is gathering massive momentum.\r\n\r\nI predict that 2017 will be dominated not solely by THE DONALD but just as much by the EUROZONE as it implodes. I also predict that the likes of Hollande and Merkel will be out. The two primary architects of the EUROZONE problems will not stand again.\r\n\r\n&nbsp;\r\n\r\nBREXIT and THE CABLE:\r\n\r\nFor the past 10 days or so, I have reached analysis paralysis with regards to the GBP. My fundamental views as a result have turned, at least I need convincing to go back again.\r\n\r\nWhy?\r\n\r\nRemarkable as this sounds and, although I am not yet 100% on board, but it is weighing heavily on my thoughts, the cable is now perhaps a safety trade given the EUROZONE issues.\r\n\r\nHere are my thoughts below behind this change. Some are more finalized than others, therefore they are not ALL work in progress but collectively they are sufficient for me to take a step back for now: -\r\n<ol>\r\n 	<li>The EUROZONE election issues (above).</li>\r\n 	<li>The BREXIT will affect the EUROZONE as much as the UK.</li>\r\n 	<li>The UK economy for all the fear mongering carried out ahead of the BREXIT vote by the REMAIN believers has NOT imploded. Yes, some data is mixed but the promised implosion has just NOT happened. I know there are issues ahead but for now, the end of the UK did NOT happen. This may change when greater data information feeds through.</li>\r\n 	<li>Economically the UK is resilient and strong and it can manage its own affairs moving forward, despite BREXIT rulings and timings.</li>\r\n 	<li>The EUROZONE cannot save itself because of itself. One step forwards, two steps backwards or kick the can down the road is all that the EUROZONE can offer. It has NO coordinated approach on practically everything.</li>\r\n 	<li>The usual flight to safety for institutions is the CHF. This is costly at 0.75% from the SNB for overnight deposits. Deposits may sit for a day or two but a longer-term solution is required and even with BREXIT the UK is seen as a better location, a great option worthy of consideration.</li>\r\n 	<li>I know, and fully realise that BREXIT issues will come into play, and these issues could potentially drive the cable one way or another and override the move that was in existence at the time.</li>\r\n</ol>\r\nI am not saying that I think cable has bottomed, but I am now struggling to think that moves to parity, 1.1000, 1.1500 are NOT going to happen. I do think that we should tag the 1.2080 lows and then I think that we are done.\r\n\r\nObviously, this is just my opinion. Having now written this in black and white and published my thoughts, the GBP/USD will probably head sub parity!!\r\n\r\nThe bottom line is after taking a -40-pip loss on a EUR/GBP short (Friday), plus also on Friday, I closed out two GBP/USD shorts for a grand total of +20 pips combined to clear me out completely from cable trades. I am out and until I get over my analysis paralysis I WILL NOT be going back to cable.\r\n\r\n<strong> </strong><strong> </strong>\r\n<ol start=\"4\">\r\n 	<li><strong> LOOKING FORWARDS:</strong><strong> </strong></li>\r\n</ol>\r\n<strong>THIS WEEK’S FOREX and ECONOMIC NEWS – MY VIEWS:</strong><strong> </strong>\r\n\r\n<u>THIS WEEK’S FOREX NEWS THAT INTERESTS ME:</u>\r\n\r\n(There are many more news items related to the Forex Market other than the ones listed below. These are the ones that interest me. You can go to <a href=\"http://www.forexfactory.com\">www.forexfactory.com</a> and <a href=\"http://www.tradingeconomics.com\">www.tradingeconomics.com</a> for a more comprehensive lists of all news events that are Forex related).\r\n\r\nSUNDAY: N/A.\r\n\r\nMONDAY: EUR – Mario Draghi (ECB) speaks.\r\nMONDAY: NZD – Retail Sales.\r\n\r\nTUESDAY: NZD – PPi.\r\n\r\nWEDNESDAY: USD – FOMC Meeting Minutes.\r\n\r\nTHURSDAY: N/A.\r\nFRIDAY: N/A.\r\n\r\n<strong> </strong>\r\n\r\nThere is the Thanksgiving holiday on Thursday and “Black” Friday on Friday so from a trading perspective it will be probably more like a 3-day week as many traders take Black Friday as a holiday as well.\r\n\r\nNothing excites me about this batch of economic data.\r\n\r\nI do however want to re-iterate what I wrote last week regarding the fallout from THE DONALD’s victory.\r\n\r\n<u> </u>\r\n\r\n<em>MY THOUGHTS ON “THE DONALDS” FALLOUT:</em>\r\n\r\n<em>Now before we all start popping Krug as if it were Dom </em><em>Pérignon</em><em>, there is much, much more to consider.</em>\r\n\r\n<em>Let me just list a few of the initiatives that THE DONALD has in mind based upon what I would refer to as his ELECTION MANIFESTO.</em><em> </em>\r\n<ol>\r\n 	<li><strong><em>THE WALL</em></strong><em></em><em>: not a Roger Waters version, but the one to be erected between the U.S. and Mexico.</em>&nbsp;</li>\r\n 	<li><strong><em>THE AFFORDABLE HEATLH CARE ACT</em></strong><em></em><em> (aka OBAMACARE): to be repealed.</em>&nbsp;</li>\r\n 	<li><strong><em>NAFTA</em></strong><em></em><em> (North American Free Trade Agreement): To be torn up.</em>&nbsp;</li>\r\n 	<li><strong><em>NATO</em></strong><em></em><em> (North Atlantic Treaty Organisation): re-financed, replaced or eradicated.</em>&nbsp;</li>\r\n 	<li><strong><em>IRAN NUCLEAR AGREEMENT</em></strong><em></em><em>: To be torn up… revoked, repealed whatever.</em>&nbsp;</li>\r\n 	<li><strong><em>THE FED</em></strong><em>: Janet Yellen to be replaced by someone who will normalize U.S. interest rates at a faster pace. THE DONALD wants an aggressive little fecker in the FED as chairman.</em></li>\r\n</ol>\r\nAll the above is still as valid this week as it was last week in my opinion.\r\n\r\nWe must be careful as this market will reverse as quickly as it shoots higher. All these moves we have seen are on a promise, not facts. Nothing has been implemented.\r\n\r\nAs mentioned before from the S&amp;P futures being LIMIT DOWN at 2.028 it has rallied to the 127.6% Fibonacci extension at 2.186 in 6 working days…. quite remarkable and all on a promise.\r\n\r\n<u> </u>\r\n\r\n<u>THIS COMING WEEK - THE USD MAJORS (MY THOUGHTS): </u>\r\n\r\n(In this section I have as usual kept my charts as minimalist as possible. With regards to charting in my opinion less is more!! I hope that they are clear. All readers regardless of level of experience should be able to follow my thoughts from my comments to the levels on the charts with ease)\r\n\r\nMy comments are contained on the charts.\r\n\r\nEUR/USD - Weekly Closing Price: 1.0582\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/EURUSD-D-19112016.png\"><img class=\"aligncenter size-large wp-image-8663\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/EURUSD-D-19112016-1024x477.png\" alt=\"eurusd-d-19112016\" width=\"1024\" height=\"477\" /></a>\r\n\r\nGBP/USD - Weekly Closing Price: 1.2342\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/GBPUSD-DAILY-19112016.png\"><img class=\"aligncenter size-large wp-image-8664\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/GBPUSD-DAILY-19112016-1024x477.png\" alt=\"gbpusd-daily-19112016\" width=\"1024\" height=\"477\" /></a>\r\n\r\nAUD/USD - Weekly Closing Price: 0.7330\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/AUDUSD-D-19112016.png\"><img class=\"aligncenter size-large wp-image-8662\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/AUDUSD-D-19112016-1024x477.png\" alt=\"audusd-d-19112016\" width=\"1024\" height=\"477\" /></a>\r\n\r\nNZD/USD - Weekly Closing Price: 0.7006\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/NZDUSD-D-19112016.png\"><img class=\"aligncenter size-large wp-image-8665\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/NZDUSD-D-19112016-1024x477.png\" alt=\"nzdusd-d-19112016\" width=\"1024\" height=\"477\" /></a>\r\n\r\nUSD/CAD - Weekly Closing Price: 1.3495\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/USDCAD-D-19112016.png\"><img class=\"aligncenter size-large wp-image-8666\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/USDCAD-D-19112016-1024x477.png\" alt=\"usdcad-d-19112016\" width=\"1024\" height=\"477\" /></a>\r\n\r\nUSD/CHF - Weekly Closing Price: 1.0097\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/USDCHF-D-19112016.png\"><img class=\"aligncenter size-large wp-image-8667\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/USDCHF-D-19112016-1024x477.png\" alt=\"usdchf-d-19112016\" width=\"1024\" height=\"477\" /></a>\r\n\r\nUSD/JPY - Weekly Closing Price: 110.84\r\n\r\n<strong> <a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/USDJPY-D-19112016.png\"><img class=\"aligncenter size-large wp-image-8668\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/USDJPY-D-19112016-1024x477.png\" alt=\"usdjpy-d-19112016\" width=\"1024\" height=\"477\" /></a></strong>\r\n\r\n<strong> </strong>\r\n<ol start=\"5\">\r\n 	<li><strong> PREMIUM SERVICE SUBSCRIBER EXCLUSIVE CONTENT AREA:</strong></li>\r\n</ol>\r\n<ol start=\"6\">\r\n 	<li><strong> MY CLOSING THOUGHTS:</strong></li>\r\n</ol>\r\nFrom the outside looking in one would say that this is a one-way market. It certainly looks that way when you glance at the daily and weekly candles. The moves seem to get going in Asia and when the U.S. comes on line we chop about inside 30-40 pip ranges in the majors with a few exceptions every now and then. The moves starting in Asia makes a lot of sense because of the effect that the JPY had on the USD moves last week.\r\n\r\nI am a non-believer in this market move, it is way overdone in my opinion and I think that equities will pullback. The USD is still in demand now that the FED looks like a rate hike is going to happen.\r\n\r\nBecause of the shortened week next week in the U.S. I would be very careful about getting too heavy in trades. Thinner liquidity from lunch-time (EST) Wednesday will hit the markets. It is not just a one-day thanksgiving. It is 2.5 / 3 days for many people. Bear this is mind when trading. Over recent years there have been examples of many wicked moves on low trading volumes.\r\n\r\nSo once again, the sword of Damocles STILL hangs over the markets.\r\n\r\nAs usual…\r\n\r\nAlways remember longevity in Forex trading can only be achieved through trading with good RISK and MONEY MANAGEMENT, and above all set your position sizes in accordance with the size of your account and allow for some flexibility.\r\n\r\nTake care,\r\n\r\nScott Pickering\r\nThe Pip Accumulator\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/disclaimer/\">http://weeklyfxdrivethru.com/disclaimer/\r\n</a>BLOG VERSION: FREE NEWSLETTER\r\nDATE: 19<sup>th</sup> November 2016.','“WHAT GOES UP… MUST COME DOWN”','','publish','open','closed','','goes-must-comes','','','2016-11-20 06:27:39','2016-11-20 11:27:39','',0,'http://weeklyfxdrivethru.com/?p=8678',0,'post','',0),(8679,1,'2016-11-19 16:30:09','2016-11-19 21:30:09','<strong> </strong>\r\n<ol>\r\n 	<li><strong> INTRODUCTION:</strong></li>\r\n</ol>\r\nWow, that was some week for the USD. There were huge moves with the USD/JPY and EUR/USD about 6% and 3% respectively against the USD, quite incredible.\r\n\r\nHowever, it’s all fueled on promises from THE DONALD that he is going to spend, spend, spend on U.S. infrastructure, this is going to fuel inflation and increase U.S. debt. Add to this a now probable FED rate hike and bingo… the markets love it. The long bonds have had a massive sell off creating the correlated weakness with the USD/JPY sending that pair higher by almost 1,000 pips since THE DONALD ‘s victory 10 days ago. A welcome early Christmas present for Japanese Prime Minister Abe.\r\n\r\nAll of this has sent the FX, Equity and Bond markets on a Walter White meth trip. I trade and only trade FX, but my economics background tells me that for the inflation related to THE DONALD spend would take at least two years to work its way through. So, all the talk of the FED chomping at the bit about inflation maybe just a little premature. Whilst FX is a future pricing mechanism two years in advance and on a TRUMP promise to boot, I would not be banking on a 100% guarantee of results.\r\n\r\nI have read that market analysts are now predicting three maybe four rate increases quickly if the TRUMP spending goes through. FFS, the Fed is led (presently) by the biggest fecking dove on the planet. I just cannot see “the ditherer” signing up to four rate hikes in 2017. I think, and it’s probably proven, Janet Yellen likes to be behind the curve. I just cannot see multiple rate hikes next year without some economic evidence. THE DONALD doesn’t get into The White House until the end of January 2017. From my perspective, it’s all a bit premature.\r\n\r\nYou must admire the moves in the emini’s (S&amp;P futures) though. After the massive drop when it was evident that HILLARY had lost the election, it was LIMIT DOWN and a low of circa. 2.028. Then THE DONALD inflation move against what all the analysts had said would happen, just started to gather traction. From the lows of 2.028 the emini’s went on a non-stop rampage hitting on Friday 18<sup>th</sup> the level of 2.186 which was the 127.2% Fibonacci extension off the LIMIT DOWN lows.\r\n\r\nAll I can say is “What goes up must come down”.\r\n\r\nMoving on…\r\n\r\nThis week’s blog is the penultimate release of 2016. After next week, the DRIVE THRU will be on vacation until January 8<sup>th</sup> 2017. For PREMIUM SERVICE subscribers, I will be trading but winding down for the year. I will not be sitting back in an armchair cigar in one hand and a Jack Daniels “Fire” on ice in the other, I have some key goals and objectives to fulfill in the break.\r\n<ol>\r\n 	<li>Review of my existing Trade Styles 2016.</li>\r\n 	<li>New definitions of Trade Styles for 2017.</li>\r\n 	<li>Revisions / updates to web pages at <a href=\"http://www.weeklyfxdrivethru.com\">weeklyfxdrivethru.com</a></li>\r\n 	<li>Trading review of 2016.</li>\r\n 	<li>Marketing Plan for 2017.</li>\r\n 	<li>Revision of Trading Brokers for 2017 versus 2016.</li>\r\n 	<li>Revision of Trade Plan for trading “cross-rates” in 2017.</li>\r\n</ol>\r\nTherefore, I have enough to keep me occupied.\r\n\r\nBack to trading…\r\n\r\nIt was a good week from a pip perspective with +498 new profitable pips added. All other parameters are well within my RISK PARAMETERS.\r\n\r\nI remain very positive with FX Trading for 2017, as I think it has all the possibilities to be what I thought 2016 was going to be from a trading perspective.  I am however, still a little spooked by the market’s reaction to the TRUMP victory. We have gone a long, long way on a promise and the moves are 100% not what any bank, financial institution predicted would be the outcome from a TRUMP election victory. We all know that on many occasions banks sell retail traders against their books and personally, I find some bank financial information great to go against in the opposite direction, but on this occasion, for them all to be arseways on the effect of a TRUMP victory should be concerning if NOT alarming.\r\n\r\nI am ready for 2017, I see no reason why I cannot generate my 10,000 pips objective for PREMIUM SERVICE subscribers. I showed early this year that I could adapt my style and approach very, very quickly to the market conditions. I suffered from a 72-hour power outage, and ISP’s out of action for 24 hours all because of severe ice storms earlier this year. I took severe account losses as these outages were while the BREXIT became a huge issue when Boris Johnson the then London Mayor announced that he was supporting the BREXIT. I was run over on several trades that caused real pain. In essence, I started the trading year from March 1<sup>st</sup>. Therefore, to be almost +13,000 pips for 2016 so far I am happy with.\r\n\r\nDo not forget…\r\n\r\nJust a quick reminder; each month, I am giving away a FREE PREMIUM SERVICE 4-week subscription. This gives the winner 100% access to the PREMIUM SERVICE website and ALL my PREMIUM SERVICE communications from my suggested trade set-ups to market commentaries and my thoughts.\r\n\r\nTo stand a chance of being the next subscription winner, you need to subscribe to receive this free blog via my website <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a><strong>  </strong><strong> </strong>\r\n\r\nYou are automatically entered into a free monthly draw, once you’ve subscribed. Each month one lucky blog subscriber will receive a free subscription to the PREMIUM SERVICE.\r\n\r\n<strong> </strong>\r\n<ol start=\"2\">\r\n 	<li><strong> THE PREMIUM SERVICE:</strong></li>\r\n</ol>\r\n<u>WHAT IS THE PREMIUM SERVICE:</u>\r\n\r\nThe PREMIUM SERVICE is a subscriber, fee based trade set-up option for Forex traders regardless of experience or background. I provide traders suggested trades, and some market commentary related to open trades or factors within the overall market that have my interest.\r\n\r\nFull details of the PREMIUM SERVICE and the various trade styles plus how suggested trade set-ups are communicated can be found on my website landing page at <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a> by selecting THE PREMIUM SERVICE tab.\r\n\r\nAdditional information can be found by clicking TESTIMONIALS, PART-TIME TRADERS and FX PROMOTIONS tabs. To subscribe to THE PREMIUM SERVICE you will require a credit card.\r\n<p style=\"text-align: center;\"><u>PREMIUM SERVICE SUBSCRIPTION COSTS:</u></p>\r\n<p style=\"text-align: center;\">Details of features and benefits of a PREMIUM SERVICE subscription can be found on my website landing page at <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a> under the dropdown tab at the top of the page entitled HISTORY &amp; PERFORMANCE OF THE PREMIUM SERVICE. To subscribe follow the SUBSCRIBE HERE tab.</p>\r\n<p style=\"text-align: center;\">PREMIUM SERVICE subscription costs are as follows: -</p>\r\n<p style=\"text-align: center;\">CAD$240.00 - 4 weeks (1 month)\r\nCAD$500.00 - 10 weeks (3 months)\r\nCAD$750.00 - 20 weeks (6 months)\r\nCAD$1,250.00 - 40 weeks (12 months)\r\n<u>PLUS</u>: Existing PLATINUM MEMBERS (annual subscribers) can re-subscribe for a further 12 months for CAD$1,000.00\r\n\r\nI work for about 40 weeks a year. Subscriptions are based on 40 published blogs of the WEEKLY FX DRIVE THRU per year. For the remaining 10 weeks, I am around tweeting, posting and managing existing LIVE trades, although my market activity is reduced.</p>\r\n<p style=\"text-align: center;\"><u>PREMIUM SERVICE PERFORMANCE:</u></p>\r\n<p style=\"text-align: center;\">PRESENT AND HISTORICAL QUICK PREMIUM SERVICE STATS:\r\n\r\nTHIS MONTH SO FAR: +1,192 pips\r\nYEAR TO DATE TOTAL: +12,810 pips</p>\r\n<p style=\"text-align: center;\">NET PIPS 2015:       +10,686 pips\r\nNET PIPS 2014:       +11,209 pips</p>\r\nBelow, for additional information, I show the net position of THE PREMIUM SERVICE performance for 2016. On my website landing page <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a> under the heading “HISTORY &amp; PERFORMANCE” there are more reports providing more historic trading information.\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/2016-PS-NET-PERF-to-12112016.png\"><img class=\"aligncenter size-large wp-image-8670\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/2016-PS-NET-PERF-to-12112016-943x1024.png\" alt=\"2016-ps-net-perf-to-12112016\" width=\"943\" height=\"1024\" /></a>\r\n\r\n&nbsp;\r\n\r\nPART-TIME TRADER (POSITION) TRADES:\r\n\r\nAt the end of 2015, having listened to many of my subscribers and from a market survey that I undertook, I wanted to try and address those Forex traders who would consider themselves to be a PART-TIME trader for whatever reason.\r\n\r\nPART-TIME FOREX TRADERS fall between a rock and a hard place.  It is very, very difficult with limited access to computers due to full-time employment or limited access to a computer due time constraints, to have a voice when trading.\r\n\r\nNow more than ever you really need to be 24 x 5 with your devices to keep on top of things.\r\n\r\nI wanted to try and find a trading solution for PART-TIME TRADERS.\r\n\r\nLet me be the first to say, my solution is not 100% perfect. You can put lipstick on a pig but it’s still a pig, if you understand me. This is not an easy fix. But I wanted to try, and to be honest, timing in Forex is everything.\r\n\r\nMy initial solution, and it is on-going, has been my savior to my trading performance this year so far, with just 6/7 weeks left to go.\r\n\r\nI introduced PART-TIME TRADER TRADES now called POSITION TRADES at the start of 2016. This trading style is based upon my FUNDAMENTAL longer-term market views. These trades are LIMIT ORDER entry trades with very wide stops based on ATR (Average True Range) limits, mostly weekly limits, but sometimes monthly limits, using Fibonacci levels and trend lines to set stops and limits.\r\n\r\nThey have been, due to the way that the Forex market has been held to ransom inside tight trading ranges for most of the year, creating very choppy market conditions very successful.\r\n\r\nI am NOT saying that these trades and the way I trade them because I still have to assess trades all the time and close off trades early etc.… are the “B all and end all” holy grail for PART-TIME TRADERS but they are a step in the right direction.\r\n\r\nThese trades also suit FULL-TIME traders who want to take a longer-term perspective.\r\n\r\nHow successful have they been?\r\n\r\nHow do I measure their success?\r\n\r\nVery simply, when launching these trades, a year ago I created a page on my website landing page at <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a> called PART TIME FOREX TRADERS it is part of my drop down menu at the top of my landing page.\r\n\r\nI tried my best to define my target audience and I posted a cash flow projection, it is still there today and I have subsequently added quarterly reviews during the year.\r\n\r\nBelow is the initial cash flow projection that was posted the first week of January 2016.\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/POS-TRADE-PROJ-2016.png\"><img class=\"aligncenter size-large wp-image-8627\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/POS-TRADE-PROJ-2016-818x1024.png\" alt=\"pos-trade-proj-2016\" width=\"818\" height=\"1024\" /></a>\r\n\r\n&nbsp;\r\n\r\nI am not going to spend a great deal of time on this. Basically for the purpose of this section of the DRIVE THRU blog will focus solely on MINI LOT traders.\r\n\r\nMy suggestion on day 1, was to open a broker account with USD$7,500. At the end of the year based only on single lot trades after costs to trade and my PREMIUM SERVICE annual subscription my goal was to grow the broker account from USD$7,500 to $15,052.50 by the end of 2016.\r\n\r\n<strong><u>That would be to double your initial investment after ALL costs were taken into consideration</u></strong>\r\n\r\nHow have I faired with this quest?\r\n\r\nBelow is the latest spreadsheet update post I made to my website on the 31<sup>st</sup> October 2016. On my website <a href=\"http://www.weeklyfxdivethru.com\">www.weeklyfxdivethru.com</a> landing page under the heading “PART TIME FOREX TRADERS” all my updates throughout 2016 can be found together with more information and background to these trade set ups.\r\n\r\n&nbsp;\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/POS-PROJ-2016-Q3.png\"><img class=\"aligncenter size-large wp-image-8630\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/POS-PROJ-2016-Q3-1024x806.png\" alt=\"pos-proj-2016-q3\" width=\"1024\" height=\"806\" /></a>\r\n\r\nAt the end of last month, the cumulative position now shows that the original account with USD$7,500 now stands at net USD$13,868.00.\r\n\r\nThere is just under USD$1,200 in income left to achieve (1,200 pips over the months of November and December). It is a tall order.\r\n\r\nWhat about my macro thoughts on the performance of the POSITION TRADES?\r\n\r\nMy thoughts are very straightforward: -\r\n<ol>\r\n 	<li>This (2016) has been an extremely difficult year to trade in.</li>\r\n 	<li>My approach to trading this year has been almost a 180 degree turn on 2015 trading.</li>\r\n 	<li>Features and factors that prompted me to start this trading style, namely central bank diversification never became as big of an issue as I thought it would have been. I had to re-focus and adapt the POSITION trade set ups to compensate for this.</li>\r\n 	<li>This review of style, manifested itself in the facts that my projection was for just 90 trades in the year. So far I have completed 146 trades (more than 50% more than anticipated). My profits per trade are less and my losses per trade are well under projection.</li>\r\n 	<li>I am, given the above points 1-4, delighted to have achieved this performance so far.</li>\r\n 	<li>Have I delivered what I set out for PART-TIME traders? Not 100%. I have delivered profits but the timings for closing of trades is still an issue. I cannot let losses grow or profits diminish due to a trading style. I have to 100% trade the price action in the market as I see it.</li>\r\n 	<li>What about 2017?\r\n\r\nI will continue this trading style next year, but I will review my other trading styles. It is impossible to predict what type of a trading year 2017 will be, apart from the fact it contains 365 days and that there will always be a forex market every day the market is open.</li>\r\n</ol>\r\nIf you would like additional supporting data or detail about the performance and the tabs on my website landing page at <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a> do not answer your questions, contact me directly and I will supply the trading data you require. There are NO secrets. There are many, many spreadsheets detailing performance trade by trade and by trade and by trading style, way too many to place in this blog. If you are interested in the PREMIUM SERVICE and want more information, all you have to do is ask.\r\n\r\n<strong> </strong>\r\n<ol start=\"3\">\r\n 	<li><strong> LOOKING BACKWARDS: THE FX MARKET PLACE</strong></li>\r\n</ol>\r\n<strong>LAST WEEK’S FOREX and ECONOMIC NEWS – MY VIEWS:</strong>\r\n\r\n30 YEAR U.S. T-Bond / DXY / USD/JPY:\r\n\r\nCorrelations do matter.\r\n\r\nThat was a title of a blog that I wrote back in 2014, I think that we were on vacation in Las Vegas at the time when I penned that little ditty.\r\n\r\nIt is just as true now as it was then. NO matter what we as traders think, the market will do what the market does. I focus on Forex. However, inter-market relationships matter and the push in one market is a pull in another and they usually all correlate as a domino effect takes place\r\n\r\nWhilst, some correlations are off at the moment, or maybe not as strong, the selloff in U.S. long bonds related to the DXY and the USD/JPY is fixed and solid.\r\n\r\nI can pontificate here for pages about how I think these moves are predicated on bulls**t that may not happen and that I think that the moves are way overdone and extreme to say the least, it is was it is.\r\n\r\nThe weird thing is…\r\n\r\nI have for the past week not attempted to trade the USD/JPY apart from a few personal scalps on the night of the U.S. election results. The 1,000 pip move higher has passed by me. Why? I have let my own beliefs and thoughts about this move cloud my judgement. I don’t believe that this move is sustainable and I am expecting a sharp / painful reversal at any time.\r\n\r\nMy problem…\r\n\r\nJanet Yellen has now fanned the fire by virtually stating that the FED will raise interest rates next month. This has fueled the USD (DXY) and this has sparked greater weakness in the USD/JPY and this in turn has pushed the long bonds lower.  It’s all connected.\r\n\r\nAfter the election, it was inflation hopes that sparked the long bond selloff. I didn’t buy the longevity of that trade. So, I missed the JPY moves.\r\n\r\nNow the FED has triggered the next stage and I will NOT chase the JPY.\r\n\r\nMy point here is that you cannot be in every trade and sometimes trades you want to be in you must just watch and let trades go by because you cannot get a decent pullback to obtain a value entry.\r\n\r\nLast week there were three specific pairs that I wanted to establish positions in but I have yet to have my LIMIT ORDER entries triggered and I am still waiting. My entries were close to going LIVE but never actually did: -\r\n\r\nUSD/SEK – just on a tear. Pullbacks are so shallow; I have adjusted my entries twice and I may as well give up.\r\n\r\nUSD/CHF – I had a FLASH TRADE trigger at what I thought at the time was a weak entry. I banked $$$ and re-set my entries at better support levels. I am still waiting and totally frustrated as I want to establish a core long position with this pair.\r\n\r\nUSD/CAD – missed my entry by 4 pips and it is now trading well over 100 pips higher.\r\n\r\nSo, it has been a very frustrating and annoying time for me this past week despite adding almost 500 pips to the monthly total.\r\n\r\n&nbsp;\r\n\r\nTHE EUROZONE:\r\n\r\nOne currency that has been under pressure this past week or so is the single currency. The EUR/USD has moved about 600 pips lower since the U.S. election. Thankfully, I have grabbed bits and pieces along the way with this drop.\r\n\r\nThe word on the street is that Italian Prime Minister Renzi is going to lose the constitutional reform vote on December 4<sup>th</sup>. All votes at the moment, have taken on the mantle of being protest votes and it looks like the Italian vote will be no different.\r\n\r\nA “NO” vote would, in my opinion, cause a Renzi resignation, and more uncertainty in the EUROZONE. Hence the single currency is under pressure now as the populist / anti-establishment / let’s have change vote gathers pace.\r\n\r\nWe have Austrian, French, Greek, Dutch and German votes on the horizon through to Q2 2017. It will get dirty and nasty.\r\n\r\nThis is now the long overdue payback time from the people for the failed German induced austerity measures that crippled the EUROZONE.\r\n\r\nThere is complete denial out of Brussels, but the populist vote in the EUROZONE is gathering massive momentum.\r\n\r\nI predict that 2017 will be dominated not solely by THE DONALD but just as much by the EUROZONE as it implodes. I also predict that the likes of Hollande and Merkel will be out. The two primary architects of the EUROZONE problems will not stand again.\r\n\r\n&nbsp;\r\n\r\nBREXIT and THE CABLE:\r\n\r\nFor the past 10 days or so, I have reached analysis paralysis with regards to the GBP. My fundamental views as a result have turned, at least I need convincing to go back again.\r\n\r\nWhy?\r\n\r\nRemarkable as this sounds and, although I am not yet 100% on board, but it is weighing heavily on my thoughts, the cable is now perhaps a safety trade given the EUROZONE issues.\r\n\r\nHere are my thoughts below behind this change. Some are more finalized than others, therefore they are not ALL work in progress but collectively they are sufficient for me to take a step back for now: -\r\n<ol>\r\n 	<li>The EUROZONE election issues (above).</li>\r\n 	<li>The BREXIT will affect the EUROZONE as much as the UK.</li>\r\n 	<li>The UK economy for all the fear mongering carried out ahead of the BREXIT vote by the REMAIN believers has NOT imploded. Yes, some data is mixed but the promised implosion has just NOT happened. I know there are issues ahead but for now, the end of the UK did NOT happen. This may change when greater data information feeds through.</li>\r\n 	<li>Economically the UK is resilient and strong and it can manage its own affairs moving forward, despite BREXIT rulings and timings.</li>\r\n 	<li>The EUROZONE cannot save itself because of itself. One step forwards, two steps backwards or kick the can down the road is all that the EUROZONE can offer. It has NO coordinated approach on practically everything.</li>\r\n 	<li>The usual flight to safety for institutions is the CHF. This is costly at 0.75% from the SNB for overnight deposits. Deposits may sit for a day or two but a longer-term solution is required and even with BREXIT the UK is seen as a better location, a great option worthy of consideration.</li>\r\n 	<li>I know, and fully realise that BREXIT issues will come into play, and these issues could potentially drive the cable one way or another and override the move that was in existence at the time.</li>\r\n</ol>\r\nI am not saying that I think cable has bottomed, but I am now struggling to think that moves to parity, 1.1000, 1.1500 are NOT going to happen. I do think that we should tag the 1.2080 lows and then I think that we are done.\r\n\r\nObviously, this is just my opinion. Having now written this in black and white and published my thoughts, the GBP/USD will probably head sub parity!!\r\n\r\nThe bottom line is after taking a -40-pip loss on a EUR/GBP short (Friday), plus also on Friday, I closed out two GBP/USD shorts for a grand total of +20 pips combined to clear me out completely from cable trades. I am out and until I get over my analysis paralysis I WILL NOT be going back to cable.\r\n\r\n<strong> </strong><strong> </strong>\r\n<ol start=\"4\">\r\n 	<li><strong> LOOKING FORWARDS:</strong><strong> </strong></li>\r\n</ol>\r\n<strong>THIS WEEK’S FOREX and ECONOMIC NEWS – MY VIEWS:</strong><strong> </strong>\r\n\r\n<u>THIS WEEK’S FOREX NEWS THAT INTERESTS ME:</u>\r\n\r\n(There are many more news items related to the Forex Market other than the ones listed below. These are the ones that interest me. You can go to <a href=\"http://www.forexfactory.com\">www.forexfactory.com</a> and <a href=\"http://www.tradingeconomics.com\">www.tradingeconomics.com</a> for a more comprehensive lists of all news events that are Forex related).\r\n\r\nSUNDAY: N/A.\r\n\r\nMONDAY: EUR – Mario Draghi (ECB) speaks.\r\nMONDAY: NZD – Retail Sales.\r\n\r\nTUESDAY: NZD – PPi.\r\n\r\nWEDNESDAY: USD – FOMC Meeting Minutes.\r\n\r\nTHURSDAY: N/A.\r\nFRIDAY: N/A.\r\n\r\n<strong> </strong>\r\n\r\nThere is the Thanksgiving holiday on Thursday and “Black” Friday on Friday so from a trading perspective it will be probably more like a 3-day week as many traders take Black Friday as a holiday as well.\r\n\r\nNothing excites me about this batch of economic data.\r\n\r\nI do however want to re-iterate what I wrote last week regarding the fallout from THE DONALD’s victory.\r\n\r\n<u> </u>\r\n\r\n<em>MY THOUGHTS ON “THE DONALDS” FALLOUT:</em>\r\n\r\n<em>Now before we all start popping Krug as if it were Dom </em><em>Pérignon</em><em>, there is much, much more to consider.</em>\r\n\r\n<em>Let me just list a few of the initiatives that THE DONALD has in mind based upon what I would refer to as his ELECTION MANIFESTO.</em><em> </em>\r\n<ol>\r\n 	<li><strong><em>THE WALL</em></strong><em>: not a Roger Waters version, but the one to be erected between the U.S. and Mexico.\r\n\r\n</em></li>\r\n 	<li><strong><em>THE AFFORDABLE HEATLH CARE ACT</em></strong><em> (aka OBAMACARE): to be repealed.\r\n\r\n</em></li>\r\n 	<li><strong><em>NAFTA</em></strong><em> (North American Free Trade Agreement): To be torn up.\r\n\r\n</em></li>\r\n 	<li><strong><em>NATO</em></strong><em> (North Atlantic Treaty Organisation): re-financed, replaced or eradicated.\r\n\r\n</em></li>\r\n 	<li><strong><em>IRAN NUCLEAR AGREEMENT</em></strong><em>: To be torn up… revoked, repealed whatever.\r\n\r\n</em></li>\r\n 	<li><strong><em>THE FED</em></strong><em>: Janet Yellen to be replaced by someone who will normalize U.S. interest rates at a faster pace. THE DONALD wants an aggressive little fecker in the FED as chairman.</em></li>\r\n</ol>\r\nAll the above is still as valid this week as it was last week in my opinion.\r\n\r\nWe must be careful as this market will reverse as quickly as it shoots higher. All these moves we have seen are on a promise, not facts. Nothing has been implemented.\r\n\r\nAs mentioned before from the S&amp;P futures being LIMIT DOWN at 2.028 it has rallied to the 127.6% Fibonacci extension at 2.186 in 6 working days…. quite remarkable and all on a promise.\r\n\r\n<u> </u>\r\n\r\n<u>THIS COMING WEEK - THE USD MAJORS (MY THOUGHTS): </u>\r\n\r\n(In this section I have as usual kept my charts as minimalist as possible. With regards to charting in my opinion less is more!! I hope that they are clear. All readers regardless of level of experience should be able to follow my thoughts from my comments to the levels on the charts with ease)\r\n\r\nMy comments are contained on the charts.\r\n\r\nEUR/USD - Weekly Closing Price: 1.0582\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/EURUSD-D-19112016.png\"><img class=\"aligncenter size-large wp-image-8663\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/EURUSD-D-19112016-1024x477.png\" alt=\"eurusd-d-19112016\" width=\"1024\" height=\"477\" /></a>\r\n\r\nGBP/USD - Weekly Closing Price: 1.2342\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/GBPUSD-DAILY-19112016.png\"><img class=\"aligncenter size-large wp-image-8664\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/GBPUSD-DAILY-19112016-1024x477.png\" alt=\"gbpusd-daily-19112016\" width=\"1024\" height=\"477\" /></a>\r\n\r\nAUD/USD - Weekly Closing Price: 0.7330\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/AUDUSD-D-19112016.png\"><img class=\"aligncenter size-large wp-image-8662\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/AUDUSD-D-19112016-1024x477.png\" alt=\"audusd-d-19112016\" width=\"1024\" height=\"477\" /></a>\r\n\r\nNZD/USD - Weekly Closing Price: 0.7006\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/NZDUSD-D-19112016.png\"><img class=\"aligncenter size-large wp-image-8665\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/NZDUSD-D-19112016-1024x477.png\" alt=\"nzdusd-d-19112016\" width=\"1024\" height=\"477\" /></a>\r\n\r\nUSD/CAD - Weekly Closing Price: 1.3495\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/USDCAD-D-19112016.png\"><img class=\"aligncenter size-large wp-image-8666\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/USDCAD-D-19112016-1024x477.png\" alt=\"usdcad-d-19112016\" width=\"1024\" height=\"477\" /></a>\r\n\r\nUSD/CHF - Weekly Closing Price: 1.0097\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/USDCHF-D-19112016.png\"><img class=\"aligncenter size-large wp-image-8667\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/USDCHF-D-19112016-1024x477.png\" alt=\"usdchf-d-19112016\" width=\"1024\" height=\"477\" /></a>\r\n\r\nUSD/JPY - Weekly Closing Price: 110.84\r\n\r\n<strong> <a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/USDJPY-D-19112016.png\"><img class=\"aligncenter size-large wp-image-8668\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/USDJPY-D-19112016-1024x477.png\" alt=\"usdjpy-d-19112016\" width=\"1024\" height=\"477\" /></a></strong>\r\n\r\n<strong> </strong>\r\n<ol start=\"5\">\r\n 	<li><strong> PREMIUM SERVICE SUBSCRIBER EXCLUSIVE CONTENT AREA:</strong></li>\r\n</ol>\r\n<ol start=\"6\">\r\n 	<li><strong> MY CLOSING THOUGHTS:</strong></li>\r\n</ol>\r\nFrom the outside looking in one would say that this is a one-way market. It certainly looks that way when you glance at the daily and weekly candles. The moves seem to get going in Asia and when the U.S. comes on line we chop about inside 30-40 pip ranges in the majors with a few exceptions every now and then. The moves starting in Asia makes a lot of sense because of the effect that the JPY had on the USD moves last week.\r\n\r\nI am a non-believer in this market move, it is way overdone in my opinion and I think that equities will pullback. The USD is still in demand now that the FED looks like a rate hike is going to happen.\r\n\r\nBecause of the shortened week next week in the U.S. I would be very careful about getting too heavy in trades. Thinner liquidity from lunch-time (EST) Wednesday will hit the markets. It is not just a one-day thanksgiving. It is 2.5 / 3 days for many people. Bear this is mind when trading. Over recent years there have been examples of many wicked moves on low trading volumes.\r\n\r\nSo once again, the sword of Damocles STILL hangs over the markets.\r\n\r\nAs usual…\r\n\r\nAlways remember longevity in Forex trading can only be achieved through trading with good RISK and MONEY MANAGEMENT, and above all set your position sizes in accordance with the size of your account and allow for some flexibility.\r\n\r\nTake care,\r\n\r\nScott Pickering\r\nThe Pip Accumulator\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/disclaimer/\">http://weeklyfxdrivethru.com/disclaimer/\r\n</a>BLOG VERSION: FREE NEWSLETTER\r\nDATE: 19<sup>th</sup> November 2016.','“WHAT GOES UP… MUST COMES DOWN”','','inherit','closed','closed','','8678-revision-v1','','','2016-11-19 16:30:09','2016-11-19 21:30:09','',8678,'http://weeklyfxdrivethru.com/8678-revision-v1/',0,'revision','',0),(8680,1,'2016-11-20 06:27:39','2016-11-20 11:27:39','<strong> </strong>\r\n<ol>\r\n 	<li><strong> INTRODUCTION:</strong></li>\r\n</ol>\r\nWow, that was some week for the USD. There were huge moves with the USD/JPY and EUR/USD about 6% and 3% respectively against the USD, quite incredible.\r\n\r\nHowever, it’s all fueled on promises from THE DONALD that he is going to spend, spend, spend on U.S. infrastructure, this is going to fuel inflation and increase U.S. debt. Add to this a now probable FED rate hike and bingo… the markets love it. The long bonds have had a massive sell off creating the correlated weakness with the USD/JPY sending that pair higher by almost 1,000 pips since THE DONALD ‘s victory 10 days ago. A welcome early Christmas present for Japanese Prime Minister Abe.\r\n\r\nAll of this has sent the FX, Equity and Bond markets on a Walter White meth trip. I trade and only trade FX, but my economics background tells me that for the inflation related to THE DONALD spend would take at least two years to work its way through. So, all the talk of the FED chomping at the bit about inflation maybe just a little premature. Whilst FX is a future pricing mechanism two years in advance and on a TRUMP promise to boot, I would not be banking on a 100% guarantee of results.\r\n\r\nI have read that market analysts are now predicting three maybe four rate increases quickly if the TRUMP spending goes through. FFS, the Fed is led (presently) by the biggest fecking dove on the planet. I just cannot see “the ditherer” signing up to four rate hikes in 2017. I think, and it’s probably proven, Janet Yellen likes to be behind the curve. I just cannot see multiple rate hikes next year without some economic evidence. THE DONALD doesn’t get into The White House until the end of January 2017. From my perspective, it’s all a bit premature.\r\n\r\nYou must admire the moves in the emini’s (S&amp;P futures) though. After the massive drop when it was evident that HILLARY had lost the election, it was LIMIT DOWN and a low of circa. 2.028. Then THE DONALD inflation move against what all the analysts had said would happen, just started to gather traction. From the lows of 2.028 the emini’s went on a non-stop rampage hitting on Friday 18<sup>th</sup> the level of 2.186 which was the 127.2% Fibonacci extension off the LIMIT DOWN lows.\r\n\r\nAll I can say is “What goes up must come down”.\r\n\r\nMoving on…\r\n\r\nThis week’s blog is the penultimate release of 2016. After next week, the DRIVE THRU will be on vacation until January 8<sup>th</sup> 2017. For PREMIUM SERVICE subscribers, I will be trading but winding down for the year. I will not be sitting back in an armchair cigar in one hand and a Jack Daniels “Fire” on ice in the other, I have some key goals and objectives to fulfill in the break.\r\n<ol>\r\n 	<li>Review of my existing Trade Styles 2016.</li>\r\n 	<li>New definitions of Trade Styles for 2017.</li>\r\n 	<li>Revisions / updates to web pages at <a href=\"http://www.weeklyfxdrivethru.com\">weeklyfxdrivethru.com</a></li>\r\n 	<li>Trading review of 2016.</li>\r\n 	<li>Marketing Plan for 2017.</li>\r\n 	<li>Revision of Trading Brokers for 2017 versus 2016.</li>\r\n 	<li>Revision of Trade Plan for trading “cross-rates” in 2017.</li>\r\n</ol>\r\nTherefore, I have enough to keep me occupied.\r\n\r\nBack to trading…\r\n\r\nIt was a good week from a pip perspective with +498 new profitable pips added. All other parameters are well within my RISK PARAMETERS.\r\n\r\nI remain very positive with FX Trading for 2017, as I think it has all the possibilities to be what I thought 2016 was going to be from a trading perspective.  I am however, still a little spooked by the market’s reaction to the TRUMP victory. We have gone a long, long way on a promise and the moves are 100% not what any bank, financial institution predicted would be the outcome from a TRUMP election victory. We all know that on many occasions banks sell retail traders against their books and personally, I find some bank financial information great to go against in the opposite direction, but on this occasion, for them all to be arseways on the effect of a TRUMP victory should be concerning if NOT alarming.\r\n\r\nI am ready for 2017, I see no reason why I cannot generate my 10,000 pips objective for PREMIUM SERVICE subscribers. I showed early this year that I could adapt my style and approach very, very quickly to the market conditions. I suffered from a 72-hour power outage, and ISP’s out of action for 24 hours all because of severe ice storms earlier this year. I took severe account losses as these outages were while the BREXIT became a huge issue when Boris Johnson the then London Mayor announced that he was supporting the BREXIT. I was run over on several trades that caused real pain. In essence, I started the trading year from March 1<sup>st</sup>. Therefore, to be almost +13,000 pips for 2016 so far I am happy with.\r\n\r\nDo not forget…\r\n\r\nJust a quick reminder; each month, I am giving away a FREE PREMIUM SERVICE 4-week subscription. This gives the winner 100% access to the PREMIUM SERVICE website and ALL my PREMIUM SERVICE communications from my suggested trade set-ups to market commentaries and my thoughts.\r\n\r\nTo stand a chance of being the next subscription winner, you need to subscribe to receive this free blog via my website <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a><strong>  </strong><strong> </strong>\r\n\r\nYou are automatically entered into a free monthly draw, once you’ve subscribed. Each month one lucky blog subscriber will receive a free subscription to the PREMIUM SERVICE.\r\n\r\n<strong> </strong>\r\n<ol start=\"2\">\r\n 	<li><strong> THE PREMIUM SERVICE:</strong></li>\r\n</ol>\r\n<u>WHAT IS THE PREMIUM SERVICE:</u>\r\n\r\nThe PREMIUM SERVICE is a subscriber, fee based trade set-up option for Forex traders regardless of experience or background. I provide traders suggested trades, and some market commentary related to open trades or factors within the overall market that have my interest.\r\n\r\nFull details of the PREMIUM SERVICE and the various trade styles plus how suggested trade set-ups are communicated can be found on my website landing page at <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a> by selecting THE PREMIUM SERVICE tab.\r\n\r\nAdditional information can be found by clicking TESTIMONIALS, PART-TIME TRADERS and FX PROMOTIONS tabs. To subscribe to THE PREMIUM SERVICE you will require a credit card.\r\n<p style=\"text-align: center;\"><u>PREMIUM SERVICE SUBSCRIPTION COSTS:</u></p>\r\n<p style=\"text-align: center;\">Details of features and benefits of a PREMIUM SERVICE subscription can be found on my website landing page at <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a> under the dropdown tab at the top of the page entitled HISTORY &amp; PERFORMANCE OF THE PREMIUM SERVICE. To subscribe follow the SUBSCRIBE HERE tab.</p>\r\n<p style=\"text-align: center;\">PREMIUM SERVICE subscription costs are as follows: -</p>\r\n<p style=\"text-align: center;\">CAD$240.00 - 4 weeks (1 month)\r\nCAD$500.00 - 10 weeks (3 months)\r\nCAD$750.00 - 20 weeks (6 months)\r\nCAD$1,250.00 - 40 weeks (12 months)\r\n<u>PLUS</u>: Existing PLATINUM MEMBERS (annual subscribers) can re-subscribe for a further 12 months for CAD$1,000.00</p>\r\nI work for about 40 weeks a year. Subscriptions are based on 40 published blogs of the WEEKLY FX DRIVE THRU per year. For the remaining 10 weeks, I am around tweeting, posting and managing existing LIVE trades, although my market activity is reduced.\r\n<p style=\"text-align: center;\"><u>PREMIUM SERVICE PERFORMANCE:</u></p>\r\n<p style=\"text-align: center;\">PRESENT AND HISTORICAL QUICK PREMIUM SERVICE STATS:</p>\r\nTHIS MONTH SO FAR: +1,192 pips\r\nYEAR TO DATE TOTAL: +12,810 pips\r\n<p style=\"text-align: center;\">NET PIPS 2015:       +10,686 pips\r\nNET PIPS 2014:       +11,209 pips</p>\r\nBelow, for additional information, I show the net position of THE PREMIUM SERVICE performance for 2016. On my website landing page <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a> under the heading “HISTORY &amp; PERFORMANCE” there are more reports providing more historic trading information.\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/2016-PS-NET-PERF-to-12112016.png\"><img class=\"aligncenter size-large wp-image-8670\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/2016-PS-NET-PERF-to-12112016-943x1024.png\" alt=\"2016-ps-net-perf-to-12112016\" width=\"943\" height=\"1024\" /></a>\r\n\r\n&nbsp;\r\n\r\nPART-TIME TRADER (POSITION) TRADES:\r\n\r\nAt the end of 2015, having listened to many of my subscribers and from a market survey that I undertook, I wanted to try and address those Forex traders who would consider themselves to be a PART-TIME trader for whatever reason.\r\n\r\nPART-TIME FOREX TRADERS fall between a rock and a hard place.  It is very, very difficult with limited access to computers due to full-time employment or limited access to a computer due time constraints, to have a voice when trading.\r\n\r\nNow more than ever you really need to be 24 x 5 with your devices to keep on top of things.\r\n\r\nI wanted to try and find a trading solution for PART-TIME TRADERS.\r\n\r\nLet me be the first to say, my solution is not 100% perfect. You can put lipstick on a pig but it’s still a pig, if you understand me. This is not an easy fix. But I wanted to try, and to be honest, timing in Forex is everything.\r\n\r\nMy initial solution, and it is on-going, has been my savior to my trading performance this year so far, with just 6/7 weeks left to go.\r\n\r\nI introduced PART-TIME TRADER TRADES now called POSITION TRADES at the start of 2016. This trading style is based upon my FUNDAMENTAL longer-term market views. These trades are LIMIT ORDER entry trades with very wide stops based on ATR (Average True Range) limits, mostly weekly limits, but sometimes monthly limits, using Fibonacci levels and trend lines to set stops and limits.\r\n\r\nThey have been, due to the way that the Forex market has been held to ransom inside tight trading ranges for most of the year, creating very choppy market conditions very successful.\r\n\r\nI am NOT saying that these trades and the way I trade them because I still have to assess trades all the time and close off trades early etc.… are the “B all and end all” holy grail for PART-TIME TRADERS but they are a step in the right direction.\r\n\r\nThese trades also suit FULL-TIME traders who want to take a longer-term perspective.\r\n\r\nHow successful have they been?\r\n\r\nHow do I measure their success?\r\n\r\nVery simply, when launching these trades, a year ago I created a page on my website landing page at <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a> called PART TIME FOREX TRADERS it is part of my drop down menu at the top of my landing page.\r\n\r\nI tried my best to define my target audience and I posted a cash flow projection, it is still there today and I have subsequently added quarterly reviews during the year.\r\n\r\nBelow is the initial cash flow projection that was posted the first week of January 2016.\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/POS-TRADE-PROJ-2016.png\"><img class=\"aligncenter size-large wp-image-8627\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/POS-TRADE-PROJ-2016-818x1024.png\" alt=\"pos-trade-proj-2016\" width=\"818\" height=\"1024\" /></a>\r\n\r\n&nbsp;\r\n\r\nI am not going to spend a great deal of time on this. Basically for the purpose of this section of the DRIVE THRU blog will focus solely on MINI LOT traders.\r\n\r\nMy suggestion on day 1, was to open a broker account with USD$7,500. At the end of the year based only on single lot trades after costs to trade and my PREMIUM SERVICE annual subscription my goal was to grow the broker account from USD$7,500 to $15,052.50 by the end of 2016.\r\n\r\n<strong><u>That would be to double your initial investment after ALL costs were taken into consideration</u></strong>\r\n\r\nHow have I faired with this quest?\r\n\r\nBelow is the latest spreadsheet update post I made to my website on the 31<sup>st</sup> October 2016. On my website <a href=\"http://www.weeklyfxdivethru.com\">www.weeklyfxdivethru.com</a> landing page under the heading “PART TIME FOREX TRADERS” all my updates throughout 2016 can be found together with more information and background to these trade set ups.\r\n\r\n&nbsp;\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/POS-PROJ-2016-Q3.png\"><img class=\"aligncenter size-large wp-image-8630\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/POS-PROJ-2016-Q3-1024x806.png\" alt=\"pos-proj-2016-q3\" width=\"1024\" height=\"806\" /></a>\r\n\r\nAt the end of last month, the cumulative position now shows that the original account with USD$7,500 now stands at net USD$13,868.00.\r\n\r\nThere is just under USD$1,200 in income left to achieve (1,200 pips over the months of November and December). It is a tall order.\r\n\r\nWhat about my macro thoughts on the performance of the POSITION TRADES?\r\n\r\nMy thoughts are very straightforward: -\r\n<ol>\r\n 	<li>This (2016) has been an extremely difficult year to trade in.</li>\r\n 	<li>My approach to trading this year has been almost a 180 degree turn on 2015 trading.</li>\r\n 	<li>Features and factors that prompted me to start this trading style, namely central bank diversification never became as big of an issue as I thought it would have been. I had to re-focus and adapt the POSITION trade set ups to compensate for this.</li>\r\n 	<li>This review of style, manifested itself in the facts that my projection was for just 90 trades in the year. So far I have completed 146 trades (more than 50% more than anticipated). My profits per trade are less and my losses per trade are well under projection.</li>\r\n 	<li>I am, given the above points 1-4, delighted to have achieved this performance so far.</li>\r\n 	<li>Have I delivered what I set out for PART-TIME traders? Not 100%. I have delivered profits but the timings for closing of trades is still an issue. I cannot let losses grow or profits diminish due to a trading style. I have to 100% trade the price action in the market as I see it.</li>\r\n 	<li>What about 2017?I will continue this trading style next year, but I will review my other trading styles. It is impossible to predict what type of a trading year 2017 will be, apart from the fact it contains 365 days and that there will always be a forex market every day the market is open.</li>\r\n</ol>\r\nIf you would like additional supporting data or detail about the performance and the tabs on my website landing page at <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a> do not answer your questions, contact me directly and I will supply the trading data you require. There are NO secrets. There are many, many spreadsheets detailing performance trade by trade and by trade and by trading style, way too many to place in this blog. If you are interested in the PREMIUM SERVICE and want more information, all you have to do is ask.\r\n\r\n<strong> </strong>\r\n<ol start=\"3\">\r\n 	<li><strong> LOOKING BACKWARDS: THE FX MARKET PLACE</strong></li>\r\n</ol>\r\n<strong>LAST WEEK’S FOREX and ECONOMIC NEWS – MY VIEWS:</strong>\r\n\r\n30 YEAR U.S. T-Bond / DXY / USD/JPY:\r\n\r\nCorrelations do matter.\r\n\r\nThat was a title of a blog that I wrote back in 2014, I think that we were on vacation in Las Vegas at the time when I penned that little ditty.\r\n\r\nIt is just as true now as it was then. NO matter what we as traders think, the market will do what the market does. I focus on Forex. However, inter-market relationships matter and the push in one market is a pull in another and they usually all correlate as a domino effect takes place\r\n\r\nWhilst, some correlations are off at the moment, or maybe not as strong, the selloff in U.S. long bonds related to the DXY and the USD/JPY is fixed and solid.\r\n\r\nI can pontificate here for pages about how I think these moves are predicated on bulls**t that may not happen and that I think that the moves are way overdone and extreme to say the least, it is was it is.\r\n\r\nThe weird thing is…\r\n\r\nI have for the past week not attempted to trade the USD/JPY apart from a few personal scalps on the night of the U.S. election results. The 1,000 pip move higher has passed by me. Why? I have let my own beliefs and thoughts about this move cloud my judgement. I don’t believe that this move is sustainable and I am expecting a sharp / painful reversal at any time.\r\n\r\nMy problem…\r\n\r\nJanet Yellen has now fanned the fire by virtually stating that the FED will raise interest rates next month. This has fueled the USD (DXY) and this has sparked greater weakness in the USD/JPY and this in turn has pushed the long bonds lower.  It’s all connected.\r\n\r\nAfter the election, it was inflation hopes that sparked the long bond selloff. I didn’t buy the longevity of that trade. So, I missed the JPY moves.\r\n\r\nNow the FED has triggered the next stage and I will NOT chase the JPY.\r\n\r\nMy point here is that you cannot be in every trade and sometimes trades you want to be in you must just watch and let trades go by because you cannot get a decent pullback to obtain a value entry.\r\n\r\nLast week there were three specific pairs that I wanted to establish positions in but I have yet to have my LIMIT ORDER entries triggered and I am still waiting. My entries were close to going LIVE but never actually did: -\r\n\r\nUSD/SEK – just on a tear. Pullbacks are so shallow; I have adjusted my entries twice and I may as well give up.\r\n\r\nUSD/CHF – I had a FLASH TRADE trigger at what I thought at the time was a weak entry. I banked $$$ and re-set my entries at better support levels. I am still waiting and totally frustrated as I want to establish a core long position with this pair.\r\n\r\nUSD/CAD – missed my entry by 4 pips and it is now trading well over 100 pips higher.\r\n\r\nSo, it has been a very frustrating and annoying time for me this past week despite adding almost 500 pips to the monthly total.\r\n\r\n&nbsp;\r\n\r\nTHE EUROZONE:\r\n\r\nOne currency that has been under pressure this past week or so is the single currency. The EUR/USD has moved about 600 pips lower since the U.S. election. Thankfully, I have grabbed bits and pieces along the way with this drop.\r\n\r\nThe word on the street is that Italian Prime Minister Renzi is going to lose the constitutional reform vote on December 4<sup>th</sup>. All votes at the moment, have taken on the mantle of being protest votes and it looks like the Italian vote will be no different.\r\n\r\nA “NO” vote would, in my opinion, cause a Renzi resignation, and more uncertainty in the EUROZONE. Hence the single currency is under pressure now as the populist / anti-establishment / let’s have change vote gathers pace.\r\n\r\nWe have Austrian, French, Greek, Dutch and German votes on the horizon through to Q2 2017. It will get dirty and nasty.\r\n\r\nThis is now the long overdue payback time from the people for the failed German induced austerity measures that crippled the EUROZONE.\r\n\r\nThere is complete denial out of Brussels, but the populist vote in the EUROZONE is gathering massive momentum.\r\n\r\nI predict that 2017 will be dominated not solely by THE DONALD but just as much by the EUROZONE as it implodes. I also predict that the likes of Hollande and Merkel will be out. The two primary architects of the EUROZONE problems will not stand again.\r\n\r\n&nbsp;\r\n\r\nBREXIT and THE CABLE:\r\n\r\nFor the past 10 days or so, I have reached analysis paralysis with regards to the GBP. My fundamental views as a result have turned, at least I need convincing to go back again.\r\n\r\nWhy?\r\n\r\nRemarkable as this sounds and, although I am not yet 100% on board, but it is weighing heavily on my thoughts, the cable is now perhaps a safety trade given the EUROZONE issues.\r\n\r\nHere are my thoughts below behind this change. Some are more finalized than others, therefore they are not ALL work in progress but collectively they are sufficient for me to take a step back for now: -\r\n<ol>\r\n 	<li>The EUROZONE election issues (above).</li>\r\n 	<li>The BREXIT will affect the EUROZONE as much as the UK.</li>\r\n 	<li>The UK economy for all the fear mongering carried out ahead of the BREXIT vote by the REMAIN believers has NOT imploded. Yes, some data is mixed but the promised implosion has just NOT happened. I know there are issues ahead but for now, the end of the UK did NOT happen. This may change when greater data information feeds through.</li>\r\n 	<li>Economically the UK is resilient and strong and it can manage its own affairs moving forward, despite BREXIT rulings and timings.</li>\r\n 	<li>The EUROZONE cannot save itself because of itself. One step forwards, two steps backwards or kick the can down the road is all that the EUROZONE can offer. It has NO coordinated approach on practically everything.</li>\r\n 	<li>The usual flight to safety for institutions is the CHF. This is costly at 0.75% from the SNB for overnight deposits. Deposits may sit for a day or two but a longer-term solution is required and even with BREXIT the UK is seen as a better location, a great option worthy of consideration.</li>\r\n 	<li>I know, and fully realise that BREXIT issues will come into play, and these issues could potentially drive the cable one way or another and override the move that was in existence at the time.</li>\r\n</ol>\r\nI am not saying that I think cable has bottomed, but I am now struggling to think that moves to parity, 1.1000, 1.1500 are NOT going to happen. I do think that we should tag the 1.2080 lows and then I think that we are done.\r\n\r\nObviously, this is just my opinion. Having now written this in black and white and published my thoughts, the GBP/USD will probably head sub parity!!\r\n\r\nThe bottom line is after taking a -40-pip loss on a EUR/GBP short (Friday), plus also on Friday, I closed out two GBP/USD shorts for a grand total of +20 pips combined to clear me out completely from cable trades. I am out and until I get over my analysis paralysis I WILL NOT be going back to cable.\r\n\r\n<strong> </strong><strong> </strong>\r\n<ol start=\"4\">\r\n 	<li><strong> LOOKING FORWARDS:</strong><strong> </strong></li>\r\n</ol>\r\n<strong>THIS WEEK’S FOREX and ECONOMIC NEWS – MY VIEWS:</strong><strong> </strong>\r\n\r\n<u>THIS WEEK’S FOREX NEWS THAT INTERESTS ME:</u>\r\n\r\n(There are many more news items related to the Forex Market other than the ones listed below. These are the ones that interest me. You can go to <a href=\"http://www.forexfactory.com\">www.forexfactory.com</a> and <a href=\"http://www.tradingeconomics.com\">www.tradingeconomics.com</a> for a more comprehensive lists of all news events that are Forex related).\r\n\r\nSUNDAY: N/A.\r\n\r\nMONDAY: EUR – Mario Draghi (ECB) speaks.\r\nMONDAY: NZD – Retail Sales.\r\n\r\nTUESDAY: NZD – PPi.\r\n\r\nWEDNESDAY: USD – FOMC Meeting Minutes.\r\n\r\nTHURSDAY: N/A.\r\nFRIDAY: N/A.\r\n\r\n<strong> </strong>\r\n\r\nThere is the Thanksgiving holiday on Thursday and “Black” Friday on Friday so from a trading perspective it will be probably more like a 3-day week as many traders take Black Friday as a holiday as well.\r\n\r\nNothing excites me about this batch of economic data.\r\n\r\nI do however want to re-iterate what I wrote last week regarding the fallout from THE DONALD’s victory.\r\n\r\n<u> </u>\r\n\r\n<em>MY THOUGHTS ON “THE DONALDS” FALLOUT:</em>\r\n\r\n<em>Now before we all start popping Krug as if it were Dom </em><em>Pérignon</em><em>, there is much, much more to consider.</em>\r\n\r\n<em>Let me just list a few of the initiatives that THE DONALD has in mind based upon what I would refer to as his ELECTION MANIFESTO.</em><em> </em>\r\n<ol>\r\n 	<li><strong><em>THE WALL</em></strong><em></em><em>: not a Roger Waters version, but the one to be erected between the U.S. and Mexico.</em>&nbsp;</li>\r\n 	<li><strong><em>THE AFFORDABLE HEATLH CARE ACT</em></strong><em></em><em> (aka OBAMACARE): to be repealed.</em>&nbsp;</li>\r\n 	<li><strong><em>NAFTA</em></strong><em></em><em> (North American Free Trade Agreement): To be torn up.</em>&nbsp;</li>\r\n 	<li><strong><em>NATO</em></strong><em></em><em> (North Atlantic Treaty Organisation): re-financed, replaced or eradicated.</em>&nbsp;</li>\r\n 	<li><strong><em>IRAN NUCLEAR AGREEMENT</em></strong><em></em><em>: To be torn up… revoked, repealed whatever.</em>&nbsp;</li>\r\n 	<li><strong><em>THE FED</em></strong><em>: Janet Yellen to be replaced by someone who will normalize U.S. interest rates at a faster pace. THE DONALD wants an aggressive little fecker in the FED as chairman.</em></li>\r\n</ol>\r\nAll the above is still as valid this week as it was last week in my opinion.\r\n\r\nWe must be careful as this market will reverse as quickly as it shoots higher. All these moves we have seen are on a promise, not facts. Nothing has been implemented.\r\n\r\nAs mentioned before from the S&amp;P futures being LIMIT DOWN at 2.028 it has rallied to the 127.6% Fibonacci extension at 2.186 in 6 working days…. quite remarkable and all on a promise.\r\n\r\n<u> </u>\r\n\r\n<u>THIS COMING WEEK - THE USD MAJORS (MY THOUGHTS): </u>\r\n\r\n(In this section I have as usual kept my charts as minimalist as possible. With regards to charting in my opinion less is more!! I hope that they are clear. All readers regardless of level of experience should be able to follow my thoughts from my comments to the levels on the charts with ease)\r\n\r\nMy comments are contained on the charts.\r\n\r\nEUR/USD - Weekly Closing Price: 1.0582\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/EURUSD-D-19112016.png\"><img class=\"aligncenter size-large wp-image-8663\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/EURUSD-D-19112016-1024x477.png\" alt=\"eurusd-d-19112016\" width=\"1024\" height=\"477\" /></a>\r\n\r\nGBP/USD - Weekly Closing Price: 1.2342\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/GBPUSD-DAILY-19112016.png\"><img class=\"aligncenter size-large wp-image-8664\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/GBPUSD-DAILY-19112016-1024x477.png\" alt=\"gbpusd-daily-19112016\" width=\"1024\" height=\"477\" /></a>\r\n\r\nAUD/USD - Weekly Closing Price: 0.7330\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/AUDUSD-D-19112016.png\"><img class=\"aligncenter size-large wp-image-8662\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/AUDUSD-D-19112016-1024x477.png\" alt=\"audusd-d-19112016\" width=\"1024\" height=\"477\" /></a>\r\n\r\nNZD/USD - Weekly Closing Price: 0.7006\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/NZDUSD-D-19112016.png\"><img class=\"aligncenter size-large wp-image-8665\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/NZDUSD-D-19112016-1024x477.png\" alt=\"nzdusd-d-19112016\" width=\"1024\" height=\"477\" /></a>\r\n\r\nUSD/CAD - Weekly Closing Price: 1.3495\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/USDCAD-D-19112016.png\"><img class=\"aligncenter size-large wp-image-8666\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/USDCAD-D-19112016-1024x477.png\" alt=\"usdcad-d-19112016\" width=\"1024\" height=\"477\" /></a>\r\n\r\nUSD/CHF - Weekly Closing Price: 1.0097\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/USDCHF-D-19112016.png\"><img class=\"aligncenter size-large wp-image-8667\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/USDCHF-D-19112016-1024x477.png\" alt=\"usdchf-d-19112016\" width=\"1024\" height=\"477\" /></a>\r\n\r\nUSD/JPY - Weekly Closing Price: 110.84\r\n\r\n<strong> <a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/USDJPY-D-19112016.png\"><img class=\"aligncenter size-large wp-image-8668\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/USDJPY-D-19112016-1024x477.png\" alt=\"usdjpy-d-19112016\" width=\"1024\" height=\"477\" /></a></strong>\r\n\r\n<strong> </strong>\r\n<ol start=\"5\">\r\n 	<li><strong> PREMIUM SERVICE SUBSCRIBER EXCLUSIVE CONTENT AREA:</strong></li>\r\n</ol>\r\n<ol start=\"6\">\r\n 	<li><strong> MY CLOSING THOUGHTS:</strong></li>\r\n</ol>\r\nFrom the outside looking in one would say that this is a one-way market. It certainly looks that way when you glance at the daily and weekly candles. The moves seem to get going in Asia and when the U.S. comes on line we chop about inside 30-40 pip ranges in the majors with a few exceptions every now and then. The moves starting in Asia makes a lot of sense because of the effect that the JPY had on the USD moves last week.\r\n\r\nI am a non-believer in this market move, it is way overdone in my opinion and I think that equities will pullback. The USD is still in demand now that the FED looks like a rate hike is going to happen.\r\n\r\nBecause of the shortened week next week in the U.S. I would be very careful about getting too heavy in trades. Thinner liquidity from lunch-time (EST) Wednesday will hit the markets. It is not just a one-day thanksgiving. It is 2.5 / 3 days for many people. Bear this is mind when trading. Over recent years there have been examples of many wicked moves on low trading volumes.\r\n\r\nSo once again, the sword of Damocles STILL hangs over the markets.\r\n\r\nAs usual…\r\n\r\nAlways remember longevity in Forex trading can only be achieved through trading with good RISK and MONEY MANAGEMENT, and above all set your position sizes in accordance with the size of your account and allow for some flexibility.\r\n\r\nTake care,\r\n\r\nScott Pickering\r\nThe Pip Accumulator\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/disclaimer/\">http://weeklyfxdrivethru.com/disclaimer/\r\n</a>BLOG VERSION: FREE NEWSLETTER\r\nDATE: 19<sup>th</sup> November 2016.','“WHAT GOES UP… MUST COME DOWN”','','inherit','closed','closed','','8678-revision-v1','','','2016-11-20 06:27:39','2016-11-20 11:27:39','',8678,'http://weeklyfxdrivethru.com/8678-revision-v1/',0,'revision','',0),