<h3 style="text-align: center;"><strong>THE PREMIUM SERVICE
</strong><strong>(The Home of Single-Lot $$$$ Trading)</strong></h3>
<strong>DATE: 22.02.2015
</strong><strong style="line-height: 1.5;">REFERENCE: #48
</strong><strong>BLOG: THE PREMIUM SERVICE</strong>

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<ol>
	<li><strong><span style="text-decoration: underline;"> INTRODUCTION / LOOKING BACK OVER THE PAST WEEK:</span></strong></li>
</ol>
At last, after a number of what I am calling Forex Tsunami’s over the past three weeks or so (SNB, ECB QE and a few rocking short squeezes), we had by comparison a normal week, although I must caveat this by saying the news surrounding Greece has kept the markets choppy, in fact let me be serious the markets around the Greek news were just plain stupid. Stupid is a great word but not as farcical as the press releases surrounding the infamous letter that was presented to the Germans by the Greek government which the Germans rejected.

It was the wrong letter that was sent to the EUROGROUP… for the love of God…give me a fecking break. What are we here…children trying to get out of gym class at school?

If that is not enough, the deal is still not done. In fact, I talk about it later so let me just stop there after just one or two more digs …. but, my oh my what an absolute shower of nonsense the EUROZONE is.

It is badly formulated, badly designed, and poorly managed by a collection of politicians who are not problem solvers but blame attributers. The EUROZONE bureaucrats are becoming fat on the constant hospitality driven cheese and fine wines industry, which is the only one to have really grown in the EUROZONE in the past 8 years.

It is an absolute mess, it is as I have said on sooooooooooooo many occasions before, a case of trying to fit a square peg in a round hole which just won’t work. Later…

I move on….

Combine the EUR choppiness with oil volatility and it has been a choppy market, but at the same time we have been operating within trading ranges for the week, albeit that one or two of them may have extended, it is still fundamentally a range bound market in Forex at the moment.

Personally, during the week I over-traded a couple of times and fell foul of these trades. My discipline is much better than it was when I first started trading and I do consider myself to be quite disciplined, but I do get caught up in the excitement of trading at times. I ended the week feeling much happier than I was at the start of the week from a macro viewpoint but I did get suckered into a few trades I would have been better to ignore.

From a market perspective, I am disappointed that all the over-hanging directional fundamental news that we have is on the back burner as we run through the GREECE versus GERMANY bailout / loan extension, or possibly the GREXIT / default and the, “Is Oil dropping to $20 or not” questions?

There are still a number of geopolitical issues that are bubbling under such as the conflict in UKRAINE. I am still trying to work out the reasons for Merkel and Hollande traveling to meet Putin to broker a ceasefire that the whole western world knew would fail. We have on-going ISIS issues, although it looks like however tragic the stories may be of be-headings and torchings, we unfortunately have the “its over there not over here” factor in play. Whilst we are led to believe progress is being made in the mission against ISIS the killings are of a higher profile and make most of the headlines.

The last FED meeting minutes were released to an absolute thunder of comments in blogs and of course on twitter. The twitter explosion was unreal regarding whether or not the FED should raise rates this year and when. Some quite remarkable comments were posted. Emotions ran high regarding Yellen over-seeing what is best for the United States, following, what appeared to be a more dovish stance from the FED.

My thoughts are; these minutes were from the FED meeting which was held before the recent PMi and NFP data was released, so to be honest, how relevant are they, the data is of more importance than the minutes, so lets just move on. Janet Yellen speaks twice this coming week in Washington. I think we have the opportunity to hear a more relevant up-to-date view on where the FED’s position lies then.

Not much publicity, but the ECB released its first set of minutes from its last meeting. Very interesting stuff and I must say for a central bank that claims complete independence, the minutes did include the odd political comment. The political comment looked to be of Germanic extraction… Was für eine Überraschung (quelle surprise)!!

We have some great fundamentals in the market that should set us up with directional trading in the coming weeks. I think that my most used word in the past two weeks, either on twitter is my blogs has been patient or patience. Forex trading is all about this. It is waiting for the trades to come to you based upon your research and analysis.

I have spoken with about 10-15 traders in the past few days on email, twitter or SKYPE. A consistent theme and frustration came through in these conversations around the question of “when will this nonsense end?”, coupled with talk of the difficult markets full of chop bringing strange moves at times and far too many squeezes.

We know that we should have good fundamentals to trade from day-to-day (see below), however, moves are at times bizarre and are at complete odds with the fundamentals. I think the reason for this is very clear - the market is completely headline driven. The markets are driven by FEAR and GREED and right now FEAR drives the Forex market hence the chop, hence the volatility and hence the fact the most flippant comment can move a currency. We are being driven by headlines. That was totally without question visible last Friday with the GREECE nonsense.

My only comment is that patience is the answer. Look at what we have when we normalize again: -
<ul>
	<li>We have the highly speculative Oil market ready to take a death plunge into the unknown. We have targets of sub $40; Citi looking for TV time state $20.</li>
	<li>We have GOLD on the brink of what I think could be a substantial move lower. I think the $1,000.00 level will be challenged this year.</li>
	<li>Copper is still trending lower. If we break below $2.00 the move lower will intensify.</li>
	<li>China is still struggling. This is difficult at times based upon whether you believe the data releases or not. The GDP rate is sliding year on year since 2012 and with demand for goods lower worldwide, it stands to reason that output will decrease and the need for commodities will also be lower.
(see the chart below)<a href="https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/CHINA-GDP-GROWTH-22022015.png"><img class="aligncenter size-full wp-image-5343" src="https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/CHINA-GDP-GROWTH-22022015.png" alt="CHINA GDP GROWTH 22022015" width="750" height="320" /></a></li>
	<li>We have Central Bank divergences. That should be giving us directional trades. The FED and BOE are hawkish. The ECB, BOJ, RBA and BOC are dovish. The RBNZ is not sure and the SNB can’t be trusted.</li>
	<li>I am also noticing divergence with the USD/JPY to U.S. equities. This is something that may be bigger than we all think moving forward. There are reasons for this that are mainly rumours and corridor comments at the moment.</li>
</ul>
I could list more but the simple fact is that I think we need to be patient.

Regular readers of my blogs will know that I use the phrase a lot referring to the markets as being all about commodities. Commodities drive the markets.

When I switch on my trading computers in the morning I always take a look at my lead indicators: - GOLD, OIL, COPPER, DXY, S&amp;P futures, AUD/USD, USD/CAD, USD/SEK and the AUD/JPY.

I look for correlations and divergences. Of late, these have not always been in play, e.g. U.S equities rally the AUD/JPY and USD/JPY relationship is mostly off at the moment. GOLD and the USD (DXY) rally at the same time, usually this is an inverse relationship. Copper moves lower the AUD moves higher etc etc

I realize that correlations will not always happen but when you have a pattern of non-correlation you know to be on your guard and look a bit further, it is something else to consider.

Like many traders the discipline to be sidelined just watching, is as difficult for me as everyone else. I am a lot better at it than I used to be, in fact, substantially better but I still get suckered in at times; I am human.

Patience is the key.

Finally, I was asked about this during the week. My relationship with FXCM has now ended. I tried to get a reasonable settlement to the GBP/CHF loss on ”SNB Day”. They were just not interested. I have therefore parted company. If any reader was thinking of signing up with FXCM by clicking on their banner on my website, please choose another broker that has a banner such as, CWMFX, BLACKWELL GLOBAL or AVATRADE. The FXCM banner will be removed early this week.

I am a little saddened to go, but it is a matter of principle now. I was looking for a gesture of goodwill; I got a gesture all right a raised middle finger!

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<ol start="2">
	<li><strong><span style="text-decoration: underline;"> WHAT’S ON MY MIND: -
THE FUNDAMENTAL TRADERS OVERVIEW:</span></strong></li>
</ol>
<p style="text-align: center;"><span style="text-decoration: underline;"><strong>EUROGROUP v GREECE… IT’S NOT OVER YET</strong></span></p>
WTF.

I could write for hours on this…. where do I start and how do I keep this brief?

There is a sitcom in this news event, never have I witnessed such a bloody circus since Billy Smarts pulled into Wavertree Playground in Liverpool. At the time I think I was 8, which this fact in itself tells you how long I have waited for Act II.

The Syriza Party lads certainly know how to put on a show. The two flutes Alex Tsipras (Prime Minister) and Yanis Varoufakis (Finance Minister) waltz into Brussels with no money, turn the bloody markets upside down, provide some sort of schoolboy prank on poor Schaeuble and the rest of the EUROGROUP, by claiming that their letter of February 18<sup>th</sup> should not have been sent, it was an error…and that the correct one was still at home….come on lads give us a fecking break here, this is 2015 you guys without ties have proper jobs now.

Enough of this, so at the end of the day the six month extension turns out to be a four month extension instead. But it is cemented into place only if the Greek government fulfill in writing certain guarantees about reforms that the EUROGROUP (Germany) has insisted upon. The Greeks have until Tuesday to do this. Job done the EUROZONE is fixed. Fixed my a**e.

This is not done, there is NO DONE DEAL. It is the usual EUROZONE can kicking, can’t make f***ing decision fudge.

The basic reasons for this is are that the EUROGROUP fears CONTAGION and even more basic, what politician in the EUROZONE wants to be the one going into the history books as the one who broke up the EUROZONE. We all know GREECE has no money and cannot pay whatever is agreed or worked out.

The politicians involved and the bureaucrats hired in Brussels are not problem solvers.

Politicians are only interested in votes, popularity, expense accounts, cheese and fine wines. Politicians attribute blame… they point fingers it was not me - look at them its their fault. That is what they do best. Most of them have zero business experience and if they had they were far removed from the sharp end.

The Bureaucrats (non-elected) are mere puppets of EUROZONE politicians and the national politicians on dotted line relationships, so no real boss. They are mere pen pushing, desk sucking, jotter blotters.

The EUROZONE or as it was once called THE EUROPEAN UNION has never acted like a union since its inception.

Its members from all over Europe, simply cannot all agree on the same subject. There is no collective foreign policy, no common social chapter, no taxation agreement on private citizens, no taxation harmony on how to treat companies whether domestic or multi-national, no banking union…the list is endless.

Basically dreamt up by Germany and France to compete at the time with EFTA (European Free Trade Agreement) the EUROPEAN UNION simply is a not a union.

Germany is the powerhouse of the EUROZONE with all the money, it has a great export tradition, a great reputation for quality in all it manufactures and it operates tight fiscal and monetary controls.

Compare Germany to most of the other countries in the EUROZONE…. it is a chalk and cheese comparison.

The EUROZONE was brought about when times were good, and there were great ideas, with lots of cheese nibbling and gallons of wine thrown down politician’s necks. It was happy days all around. Nobody ever saw the Financial Crash of 2008.

The weaker economies in the EUROZONE; Ireland, Portugal, Spain, Italy, Cyprus and Greece suffered like crazy. Banks were not well capitalized, there were no EUROZONE rules it was a desperate time. Bailouts were hastily arranged to keep the UNION intact. Greece has had bailouts, I have lost count there has been so much restructuring.

After all the German promises that Austerity would work (because they said it would) it just hasn't worked. People across Europe have suffered. The EUROZONE as a whole has poor economic data and is in DEFLATIONARY territory. Austerity was so good, that now 7 years after the FED and the BOE the ECB is now introducing QE (Quantitative Easing) as a way to try and grow the EUROZONE economically.

What about poor GREECE?

Basically there are 29 countries in the EUROZONE, of which 20 of them use the EUR (single-currency). Ignore the outer 9.

There are 20 countries basically working off the same cheque-book… think about this…20 different governments, 20 different countries with different problems….20 different parliamentary biases, whether they are left wing, right wing or centre focused, pro Europe or anti Europe. Finally and probably the least significant on the surface, but to people living in 20 different countries who have had their individual identities stolen by Brussels, there are 20 different cultures.

The cultural diversity between GREECE and GERMANY is huge…in absolutely everything. Even this past week the present Greek government had a swipe at the Germans for alleged money owed to them from World War II.

It’s hot in GREECE there is a “manyana” attitude…in GERMANY it’s wet and cold and the people will do whatever is today, right now, this moment

When it comes to finances in GREECE we have the “It’s close enough don’t worry about it - tomorrow we may find the difference who cares if we don't”, sort of attitude. Whereas, in GERMANY by comparison, if you don’t balance the books you are sacked.

Look it’s dead simple… GERMANY is pooping its pants over CONTAGION risks in the EUROZONE.

GREECE wants debt relief. Should GREECE get it? If they do Ireland and Portugal would be banging on Angela Merkels front door looking for the same.

We go debt relief now or we GREXIT in my opinion.

The EUROZONE are professional “Can kickers”. Germany has bought another 4 months of delay (assuming that the Greek government comes up (or wants to) with the assurances that the EUROGROUP wants). We will be here again in 4 months why?

Its so pure and simple, GREECE has NO money it cannot pay its debts it cannot raise sufficient tax revenues to do so now or in the future. In addition no single politician wants to be the one who broke the EUROPEAN UNION. They will fudge and can kick so they do not have to make a decision. These are politicians they may not be in power when the final crunch day comes…leave it to the next guy to deal with.

Debt forgiveness no matter how hard a pill to swallow is in my opinion the only way to draw a line under this and Ireland and Portugal, in fact all bailout recipients have to be part of the plan. We are pussy footing around as usual and all it does is create uncertainty for the markets, most of us know we will back to the same subject again very soon (four months).

Now, if we GREXIT the EUROZONE how would that affect matters. It would take a few months to come into effect but that would be another CONTAGION that I strongly believe would spread…there would be calls for referendums all over Europe with the anti-Europe parties going into overdrive about re-gaining sovereignty with your own currency once again, free to re-value, de-value do whatever you want in your countries bests interests not in the Germans best interests. It would be panic like never seen before. That is why everything will be done to avoid the GREXIT, even a complete and utter bullshit 4-month deal.

That is why DEBT RELIEF is the only way out and it must include recipients of bailouts as well.

This is not over…. not by a long way.

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<strong><span style="text-decoration: underline;"> THE PREMIUM SERVICE:</span></strong>

<strong><span style="text-decoration: underline;">SUMMARY OF PERFORMANCE:</span></strong>

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<span style="text-decoration: underline;">3.1 OVERVIEW:</span>

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

<span style="text-decoration: underline;">3.2 PREMIUM SERVICE – SUBSCRIPTION COSTS:</span>

Full details regarding the PREMIUM SERVICE can be found on my website <a href="http://www.weeklyfxdrivethru.com">www.weeklyfxdrivethru.com</a>

On the welcome page there are a series of TABS at the top of the page that provide a summary of what the PREMIUM SERVICE is about and what you receive for your subscription.

THE 2015 SUBSCRIPTION BREAKDOWN IS AS FOLLOWS: -

10 weeks - $200.00
20 weeks - $350.00
40 weeks - $500.00

<span style="text-decoration: underline;">3.3 TRADING REVIEW OF ACTIVITY and SUMMARY OF PERFORMANCE:</span>

It was better week for trading, I think, in spite of the volatility surrounding the EUROGROUP talks with GREECE. I had a couple of “sucker me in” trades at the end of the week. There is no greater person for self-criticism than myself; I am so annoyed and frustrated that I allowed myself to be suckered in, all my good efforts, so many hours at my desks, so much research and early mornings, (getting up at 2.30AM to trade the European Session), down the drain.

Moving on to the market overview, we are not yet back to a directional “feel” as mentioned earlier in the blog but the signs are there. The commodity crosses and the CHF pairs offered some nice pip moves. In addition the EUR/GBP short was a nice profitable trade on a couple of occasions.

I have been very active short the EUR/GBP but fear this may now be over as I am bearish on cable and no longer bullish as I was for the last couple of weeks. It just did not break out, which, has placed the bears back into control once again. The fundamental reasons mentioned earlier support my thoughts to remain bearish for the time being. I need to review the EUR/GBP reaction to both the EUR and GBP moving lower. Most of the times in past is meant stagnation. I do like trading this pair we will have to wait and see.

Regular readers and subscribers will know that I am not a huge fan of trading the JPY pairs, this is based upon a previous smacking that I took. Yesterday, I left a 30 pip profitable position in the EUR/JPY to go and make coffee. Upon my return to my desk I had been stopped out on a 50-pip loss. The reason for the sudden about turn…was due to the rumours about the Greek government sending the wrong letter to the EUROGROUP requesting the bailout extension…. really! The trade really upset me, and, the fact that it was a JPY related pair just tells me that I am jinxed on this currency.

I felt that as the week completed (EUROGROUP and GREECE removed) it was a little easier to set limit order trades. This year so far, my limit orders via RADAR TRADES for the PREMIUM SERVICE have under-performed. These were my strongest trades last year. I am both surprised and disappointed. This factor alone gives me a clear objective for my subscribers moving forward.

New in this week’s blog is section 4.4. I have been asked to supply more charts in the blog with my thoughts on future trade set-ups. Basically what charts am I looking at and why? What catches my eye on these charts? What trades are possibly there. As also requested I have kept these as clear and clean as possible with as few indicators as possible on them. I have tried to have just Fibonacci’s and Trend lines only. SMA’s, Bollinger Bands etc have been removed. They are stripped down as far as I can to make them easy to follow. You guys make take trades I do not from the thoughts on the charts!

Year to date the PREMIUM SERVICE trades, had you just traded single-lot trades would have given you profits from the 105 completed trades so far in 2015 as follows: -
<p style="text-align: center;"><strong>MICRO LOT TRADERS:                 $237.00</strong></p>
<p style="text-align: center;"><strong>MINI LOT TRADERS:                      $2,370.00</strong></p>
<p style="text-align: center;"><strong>STANDARD LOT TRADERS:         $23,700.00</strong></p>
The usual summary charts detailing the week and year to date performances, are below: -

<span style="text-decoration: underline;">3.3.1. – PREMIUM SERVICE PROFIT/LOSS RATIOS:</span>

<a href="https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/PROFIT-LOSS-RATIO-22022015.png"><img class="aligncenter size-full wp-image-5332" src="https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/PROFIT-LOSS-RATIO-22022015.png" alt="PROFIT-LOSS RATIO 22022015" width="408" height="586" /></a>

<span style="text-decoration: underline;">3.3.2. – PREMIUM SERVICE RISK/REWARD ANALYSIS:</span>

<a href="https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/RISK-REWARD-22022015.png"><img class="aligncenter size-full wp-image-5331" src="https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/RISK-REWARD-22022015.png" alt="RISK-REWARD 22022015" width="436" height="534" /></a>

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<span style="text-decoration: underline;">3.3.3. – PREMIUM SERVICE OVERALL TRADE SUMMARY MONTH &amp; YTD:</span>

<a href="https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/PREM-SERV-PROFITS1-22022015.png"><img class="aligncenter size-full wp-image-5333" src="https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/PREM-SERV-PROFITS1-22022015.png" alt="PREM SERV PROFITS1 22022015" width="450" height="424" /></a>

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<a href="https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/PREM-SERV-PROFITS2-22022015.png"><img class="aligncenter size-full wp-image-5334" src="https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/PREM-SERV-PROFITS2-22022015.png" alt="PREM SERV PROFITS2 22022015" width="472" height="433" /></a>

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<ol start="4">
	<li><strong><span style="text-decoration: underline;">PREMIUM SERVICE SUBSCRIBER EXCLUSIVE CONTENT:</span></strong></li>
</ol>
(Section 4 is exclusive PREMIUM SERVICE content only available to PREMIUM SERVICE subscribers)

<span style="text-decoration: underline;">4.1 EDUCATION:</span>
(The full list of all items and more from this section can be found in the PREMIUM SERVICE website in the Trade Essential area under the EDUCATION tab.)
<h3 style="text-align: center;"></h3>
<h3 style="text-align: center;"><span style="text-decoration: underline;">REASONS WHY SO MANY TRADERS FAIL</span></h3>
In my previous articles, I have often discussed the things that can be done to improve one’s trading performance. This time, let’s take a look at some of the reasons why most traders fail.

It is said that the failure rate in the Forex industry is very high, with more than 95% of aspiring traders expected to drop out of the game within their first few years of trading. At this rate, you might have a better chance of surviving the Hunger Games than becoming a successful Forex trader!

In his book One Good Trade, proprietary trader Mike Bellafiore outlines the main reasons why traders don’t succeed. Although he draws his conclusions from his experience in stock trading, the lessons are generally applicable to Forex trading as well. What is interesting to note is that most of these common mistakes are actually avoidable.
<ol>
	<li><strong> THEY DON’T LISTEN TO THE MARKET</strong></li>
</ol>
Acquiring the necessary trading skills is the easy part, but if you are unable to apply these in the proper context, your skills alone will not generate your desired profits. At the end of the day, it is still the market that will dictate price action so traders who regularly disregard what the market is telling them often end up failing.

For instance, if you insist on shorting the EUR/USD even when new fundamental factors pop up and buyers have already taken the pair to new highs, you might need a moment to step back and reassess the situation. Take some time to figure out if there is additional information that carries more weight in terms of determining current price action instead of being stubborn and even adding to your position.

“The market has rules”, Mike Bellafiore writes. “When one disobey the rules, Mother market reaches into your pocket and takes what is hers. And she doesn’t give it back.<strong> </strong>
<ol start="2">
	<li><strong> THEY DON’T ENJOY TRADING</strong></li>
</ol>
Expertise is a process, which is driven by the genuine desire to learn and do better. Without curiosity and enjoyment for the craft, traders would hardly be motivated to pursue deliberate practice and skill development.

When traders don’t have any love for the game, conducting market analysis and putting in the necessary hours required in mastering the markets will definitely seem like a chore. This explains why most aspiring traders simply decide to give up and pursue something else entirely.<strong> </strong>
<ol start="3">
	<li><strong> THEY SET UNREALISTIC EXPECTATIONS</strong></li>
</ol>
Believe me, it will take a lot of time and ego-crushing losses before one becomes a consistently profitable trader. There are many things that can be done to speed up the learning curve, but there is no way to completely eliminate it.

Some newbie traders make the mistake of thinking, that in order to be successful, they should never incur losses. Consequently, they pressure themselves too much and take it hard every time a trade goes against them.

To avoid their fate, you have to accept that you will face losses. You will experience losing streaks and undergo drawdowns, which will probably make you feel terrible. Whether you like it or not, you will be on the wrong side of a trade in some instances. But you know what? It’s OK. Even the best Forex traders out there still experience these things

I know I’ve said this so many times but I can’t stress how important it is for you to respect the process. Not everyone is entitled to make it big. However, you are entitled to work your butt off, train well, and realize your potential to become a good trader.
<ol start="4">
	<li><strong> THEY’D RATHER BE RIGHT THAN MAKE MONEY</strong></li>
</ol>
It sucks to be wrong. This is why so many people have a hard time swallowing their pride, admitting their mistake and moving on.

Often in Forex, traders develop a bias on a currency, not that there is anything wrong with it, but the downfall of this is that sometimes they get paralyzed when their trades don’t go as they planned. They stick to their trades, insisting on being right and refusing to exit their already losing positions.

I’m all for commitment when it comes to relationships and career but when you trade, you should remember that you shouldn’t be emotionally invested in a trade. Successful traders know when they should exit a losing position and they are able to do so quickly.

To be consistently profitable, you should always try to make good trades and accept the fact that you cannot control the results.

By learning from the common sources of failure, we can know what to look for in our trading habits and know what to avoid. That way, before we even hit the wall of failure, we can already correct your behavior and mindset.

Just remember that success in Forex trading comes down to listening to the market, loving what you do, setting realistic expectations, and being open to admitting your mistakes.

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<span style="text-decoration: underline;">4.2 THE PREMIUM SERVICE - EXISTING LIVE TRADES:</span>

<a href="https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/PS-LIVE-TRADES-22022015.png"><img class="aligncenter size-full wp-image-5342" src="https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/PS-LIVE-TRADES-22022015.png" alt="PS LIVE TRADES 22022015" width="714" height="490" /></a>

<span style="text-decoration: underline;">4.3 THE PREMIUM SERVICE – EXISTING LIMIT ORDERS:</span>

Below you will find an excel spreadsheet covering the trades that currently are with my brokers with LIMIT ORDERS in place.

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<a href="https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/PS-RADAR-TRADES-22022015.png"><img class="aligncenter size-full wp-image-5341" src="https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/PS-RADAR-TRADES-22022015.png" alt="PS RADAR TRADES 22022015" width="719" height="386" /></a>

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<span style="text-decoration: underline;">PLEASE NOTE:</span>

Remember position sizes for suggested FUNDAMENTAL TRADES should be much smaller than usual, maybe only 10%-15% of your normal trading position size. It is only when we add to our positions that the fun begins. All FUNDAMENTAL trades posted via email contain a second page with details of where I will add trades and when and where stops are moved, the Stair Stepping Stop Protection (SSSP) is self-explanatory and I hope useful. Using this grows your trading position and helps protect the profits made, should the trade gain traction.

This is why I have a separate broker for FUNDAMENTAL trades. It keeps my categories separate and allows me to spread my cash RISK around a few different brokers.

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<span style="text-decoration: underline;">4.4 POTENTIAL TRADES - WHAT CHARTS AM I LOOKING AT?</span>

I have been asked to have more charts in the blog. In particular the ones that I am working on and looking at because they catch my eye that may become potential trades in the trading sessions ahead. All the charts contain my thoughts. I will tweet and email as soon as these possible trades become LIMIT ORDERS.

<a href="https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/AUDUSD-DAILY-22022015.png"><img class="aligncenter size-large wp-image-5355" src="https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/AUDUSD-DAILY-22022015-1024x517.png" alt="AUDUSD DAILY 22022015" width="1024" height="517" /></a>

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<a href="https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/CADJPY-DAILY-22022015.png"><img class="aligncenter size-large wp-image-5354" src="https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/CADJPY-DAILY-22022015-1024x517.png" alt="CADJPY DAILY 22022015" width="1024" height="517" /></a>

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<a href="https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/EURGBP-60M-22022015.png">
</a><a href="https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/EURJPY-DAILY-22022015.png"><img class="aligncenter size-large wp-image-5352" src="https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/EURJPY-DAILY-22022015-1024x517.png" alt="EURJPY DAILY 22022015" width="1024" height="517" /></a>

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<a href="https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/EURJPY-DAILY-22022015.png"><img class="aligncenter size-large wp-image-5352" src="https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/EURJPY-DAILY-22022015-1024x517.png" alt="EURJPY DAILY 22022015" width="1024" height="517" /></a>

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<a href="https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/EURNZD-DAILY-22022015.png"><img class="aligncenter size-large wp-image-5351" src="https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/EURNZD-DAILY-22022015-1024x517.png" alt="EURNZD DAILY 22022015" width="1024" height="517" /></a>

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<a href="https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/GBPAUD-DAILY-22022015.png"><img class="aligncenter size-large wp-image-5350" src="https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/GBPAUD-DAILY-22022015-1024x517.png" alt="GBPAUD DAILY 22022015" width="1024" height="517" /></a>

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<a href="https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/GBPCAD-MONTHLY-22022015.png"><img class="aligncenter size-large wp-image-5349" src="https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/GBPCAD-MONTHLY-22022015-1024x517.png" alt="GBPCAD MONTHLY 22022015" width="1024" height="517" /></a>

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<a href="https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/GBPNZD-240M-22022015.png"><img class="aligncenter size-large wp-image-5348" src="https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/GBPNZD-240M-22022015-1024x517.png" alt="GBPNZD 240M 22022015" width="1024" height="517" /></a>

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<a href="https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/USDCAD-240M-22022015.png"><img class="aligncenter size-large wp-image-5347" src="https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/USDCAD-240M-22022015-1024x517.png" alt="USDCAD 240M 22022015" width="1024" height="517" /></a>

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<a href="https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/USDCHF-240M-22022015.png"><img class="aligncenter size-large wp-image-5346" src="https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/USDCHF-240M-22022015-1024x517.png" alt="USDCHF 240M 22022015" width="1024" height="517" /></a>

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<a href="https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/USDJPY-240M-22022015.png"><img class="aligncenter size-large wp-image-5345" src="https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/USDJPY-240M-22022015-1024x517.png" alt="USDJPY 240M 22022015" width="1024" height="517" /></a>

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<span style="text-decoration: underline;">4.5 MAJOR TRADING PAIRS WITH LONGER-TERM TRENDS MATCHING:</span>

The following currency pairs have Short Term (DAILY), Medium Term (WEEKLY) and Long Term (MONTHLY) charts all trending in the same direction.

<a href="https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/PS-TRENDING-PAIRS-22022015.png"><img class="aligncenter size-full wp-image-5340" src="https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/PS-TRENDING-PAIRS-22022015.png" alt="PS TRENDING PAIRS 22022015" width="384" height="455" /></a>

This is the third week with no real trending pairs to look at. Whether you find this data interesting or not, the mere fact that so few pairs are featured, you should note that we are at inflection points, when currencies may be changing direction. Alternatively, you may choose to dismiss this data as you feel that the numbers of squeezes have affected the directional trends and these indicators need a few more days to show the real trend again.

My view is weekly and monthly trends should NOT be changed by a squeeze… we should take note.

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<span style="text-decoration: underline;">4.6 THE KEY SUPPORT &amp; RESISTANCE LEVELS WITH THE USD MAJORS</span><strong><span style="text-decoration: underline;">:
</span></strong>(This content is now for PREMIUM SERVICE subscribers only, it allows me to refer to existing and future set-ups that form part of the PREMIUM SERVICE subscription)

<strong>EUR/USD: Closing Price 1.1381.</strong> Well would you Adam and Eve it? Last weeks closing price was just 1 pip less than the previous weeks close. The banks will have a field day on this data. All the bloody shenanigans and stress for what? Is the GREECE tragedy over? Will we have an Act IV? I wish I knew, I said it before, it is NOT over yet in my opinion. However looking into the early trading this week, I see the range to bear in mind with the EUR/USD to be 1.1260, which is critical support and resistance is pretty good at 1.1450. I am seriously thinking of a limit order at 1.1530 to short and being patient waiting for it to trigger. We have seen wild moves, there is nothing at all in the way with severe volatility for a test at 1.1530.

<strong>GBP/USD: Closing Price 1.5404</strong>. Last week I thought the cable to be in a break out, now I think the cable is pulling back. It failed to breakout on several occasions. It was held back at 1.5480 after the FED minutes and 1.5440 has also been a tough nut to crack. I am looking at the range being 1.5300 to 1.5480.

<strong>AUD/USD: Closing Price 0.7846</strong>. I cannot fathom out this pair. It is causing me stress. It is now at the point of being possibly a great short at either 0.7850 or 0.7880. For about a week I had been patiently waiting to enter the AUD/NZD on a pullback to 1.0400. My first attempt was at 1.0490 I would not chase and I was looking for a pullback. It actually traded below 1.0300 for a while. I finally got into the AUD/NZD short on Friday due to AUD strength over the Kiwi for once. Now I am not so sure that I want to short the AUD/NZD. I need the AUD/USD to pullback at 0.7880 to give me the warm and fuzzies over my AUD/NZD short trade. Lets see…the support for the AUD/USD is at 0.7750 and resistance is at 0.7780.

<strong>NZD/USD: Closing Price 0.7523</strong>. This pair is very annoying and I find it frustrating at times to trade. It is still range bound albeit that the range is now a little broader at 0.7450 to 0.7610. I have my short LIMIT ORDER waiting at this level.

<strong>USD/CAD: Closing Price 1.2538.</strong> The oil proxy rampage continues plus awful CAD Retail Sales numbers sent this pair and its crosses up like crazy. Where next…support is excellent at 1.2350 and resistance is really now back at 1.2700. This is a wide range but this pair has been moving 150–200 pips per day of late on the back of the volatility surrounding the oil price.

<strong>USD/CHF: Closing Price 0.9377</strong>. I made good pips and lost $$$ with this pair last week. It still looks bullish. Support is at 0.9350 and resistance is at 0.9540.

<strong>USD/JPY: Closing Price 119.07. </strong> I have a feeling that the S&amp;P it getting very toppy again. One of these times I will be correct. This pair is not moving in sync with U.S. equities anymore. Some days yes it will for a while the rest of the time its not. This divergence lower coupled with the fact that the BOJ are releasing semi official papers saying that they will do no more QE is leading me to think that the JPY pairs could be very good short trades in the near future. For now support is at 118.20 and resistance at 120.50.

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<ol start="5">
	<li><strong><span style="text-decoration: underline;"> THE WEEK AHEAD: -
WHAT AM I THINKING &amp; WHAT AM I LOOKING AT?</span></strong></li>
</ol>
<span style="text-decoration: underline;">5.1 MAJOR FOREX NEWS THIS WEEK THAT INTERESTS ME:</span>
SUNDAY: N/A.

MONDAY: EUR – Draghi (ECB) Speaks.

TUESDAY: USD – Janet Yellen (FED) Testifies.
TUESDAY: CAD – Poloz (BOC) Speaks.
TUESDAY: CNY – HSBC Flash Manufacturing PMi.

WEDNESDAY: USD – Janet Yellen (FED) Testifies.
WEDNESDAY: EUR – Draghi (ECB) Speaks.
WEDNESDAY: NZD – Trade Balance.
WEDNESDAY: AUD – PCE.

THURSDAY: EUR – Targeted LTRO Data.
THURSDAY: CAD – Core CPi.
THURSDAY: USD – Core CPi.
THURSDAY: NZD – ANZ Business Confidence.

FRIDAY: EUR – German Preliminary CPi.
FRIDAY: USD – Preliminary GDP.

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<span style="text-decoration: underline;">5.2 FINAL THOUGHTS / CLOSING COMMENTS:</span>

What can I say, I am originally from Liverpool; nothing shocks me and nothing really surprises me. You learn the hard way in Liverpool and it sets you up for life.

Trading Forex I totally enjoy 100%. I find it stimulating, annoying, frustrating, rewarding, fascinating and challenging. At the same time it is sometimes laughable. The funniest item of late was the GREEK LETTER to the EUROGROUP…. we sent the wrong letter… really? Then it was denied, then confirmed, then denied again. Then we hear of an accord being reached in the negotiations followed by denials of such an agreement… incredible stuff.

This week we have a lot of Central Bank Presidents speaking; this is more like it in my opinion. Central banks are like dinosaurs, huge oil tankers; they take forever to change direction. When they set out a policy that is it for a long time. I am really hoping for confirmation of recent statements to give the markets certainty moving forward …the markets love clear statements.

As always, there will be trades to trade and there will be some great opportunities, please trade in line with your RISK MANAGEMENT parameters from your TRADING PLAN. If you do not have a TRADE PLAN, in my opinion, you should, as this will help you with consistency.
<p style="text-align: center;"><strong>Consistency = longevity in trading and that is a critical goal.
IT IS THE KEY MEASUREMENT</strong></p>
Before you enter a trade work out the risk, price it in $$$. Place your stop accordingly. PREMIUM SERVICE subscribers have a full library of information on RISK MANAGEMENT, RISK TOLERANCES and POSITION SIZING etc. available for reference 24x7.

Take care.

Scott Pickering
The Pip Accumulator
Saturday February 21st 2015

EMAIL / FOLLOW ME AT:
premiumservice@weeklyfxdrivethru.com
Twitter: @pipaccumulator
Twitter: @ThePremService
<span style="line-height: 1.5;">Google+/scottpickering
</span>Tumblr: thepipaccumulator

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