<strong><span style="font-size: 14pt;">THE DAILY FX POST</span>
<span style="font-size: 14pt;"> from</span>
<span style="font-size: 14pt;"> THE PREMIUM SERVICE</span>
</strong>

<strong>DATE: Monday 24th November 2014
REF: #132</strong>
<ol>
	<li><span style="font-size: 12pt;"><strong> OVERVIEW – INITIAL THOUGHTS:</strong></span></li>
</ol>
I had a chance just after the weekly open to close off several trades with small positive values, but I decided against it at the time. Those trades are currently running at about 20-30 negative on the day.

Fundamentally, nothing has changed. Markets are moving, basically re-adjusting price. Last week we saw what we will be seeing for the foreseeable future, that is Central Bank intervention. As I have written before, the great thing about Central Bank monetary policies are that they do not change direction in an instant and giving the fears in world markets, at least we know that any change in Central bank policy will be very heavily publicized to avoid panic or uncertainty.

It is therefore, just a fact that the longer-term directions are plain to see, we as small fry traders cannot fight Central Bank policy we have to try and understand the directional interplay within currency pairs and trade accordingly. Even with huge volumes of cash being thrown at the markets, do not expect straight line moves in any particular direction. Because every Central Bank “is in it to win it” it will get ugly and dirty at times, patience will be required as well as trader savvy.

I have within the PREMIUM SERVICE nine (9) LIVE trades at the moment (listed later in this blog): -
<ul>
	<li>1 trade is what I would call speculative.</li>
	<li>2 trades are based upon RISK OFF (RISK AVERSION).</li>
	<li>6 trades are really LIVE in accordance with my FUNDAMENTAL views.</li>
</ul>
All 9 trades are under 50% position sizes. Only 2 trades are at 40% position sizes, the rest are either 20% or 10% position sizes. What does this tell you?
<ol>
	<li>I am either CHICKEN !!
or</li>
	<li>I want to have skin in the market but I am waiting for consolidation ranges to break in line with longer-term trends?
or</li>
	<li>I believe my fundamental views are in line with Central Bank direction and want to be LIVE in the market with small positions waiting for ranges to break?</li>
</ol>
Basically it's a combination of 2 and 3. I am confident that I am in the market directionally the correct way. I am live with small position sizes, looking to establish trading positions.

I am a LOW RISK trader, I am not interested in larger position sizes until trades are established and my TRADING PLAN, which I follow has me disciplined this way.

I am not expecting a busy week this week until the end of the week when EUROZONE CPi data is released. This will be scrutinized to death and will be paramount to ECB moves next week. It is Thanksgiving holiday this week in the U.S. and many traders will be taking a very long weekend, some starting Wednesday. Expect thin trading and extra volatility towards the end of the week.

Looking around the markets, U.S. equities and European bourses are up, but the Holy Trinity (GOLD, OIL and COPPER) are all lower this morning. Just remember on Friday last week the USD close above 88.25 in breakout territory. Do not write this off even we have bounced this morning on the back of the German "ifo" numbers.

I have no intention as I type this article to enter any more trades, however, should something jump off the page I will be on twitter.

<strong> </strong>
<ol start="2">
	<li><span style="font-size: 12pt;"><strong> KEY NEWS EVENTS NEXT 24 hours (BASED UPON (NYC) EDT TIME:</strong></span></li>
</ol>
JPY: - BOJ Kuroda speaks (twice).

<strong> </strong>
<ol start="3">
	<li><span style="font-size: 12pt;"><strong> EXISTING LIVE TRADES:</strong></span><strong> </strong></li>
</ol>
<strong>RADAR TRADES:</strong>

RT219
EUR/NZD
Long at 1.5930
Stop at 1.5000
Limit at 1.6440
Price now 1.5758
Current Profit / Loss Position –172 pips
(Hedged trade in play from -100 pips)

RT222
USD/CAD
Long at 1.1260
Stop at 1.0980
Limit at 1.1500
Price now 1.1242
Current Profit / Loss Position -18 pips<strong> </strong>

<strong>FLASH TRADES:</strong>

FT230
EUR/CHF
Long at 1.2040
Stop at 1.1920
Limit at 1.2500
Price now 1.2024
Current Profit / Loss Position -16 pips

FT245
EUR/USD
Short at 1.2381
Stop at 1.2480
Limit at 1.1860
Price now 1.2406
Current Profit / Loss Position -25 pips

FT246
USD/CHF
Long at 0.9703
Stop at 0.9630
Limit at 0.9950
Price now 0.9690
Current Profit / Loss Position -13 pips

FT247
GBP/USD
Short at 1.5649
Stop at 1.5750
Limit at 1.5450
Price now 1. 5692
Current Profit / Loss Position -43 pips

<strong>FUNDAMENTAL TRADES:</strong>

FUN68
AUD/USD
Short at 0.8670
Stop at 0.8750
Limit at 0.8000
Price now 0.8626
Current Profit / Loss Position +44 pips

FUN70
NZD/USD
Short at 0.7880
Stop at 0.7960
Limit at 0.7000
Price now 0.7867
Current Profit / Loss Position +13 pips

FUN72
GBP/NZD
Long at 1.9950
Stop at 1.9000
Limit at 2.0500
Price now 1.9948
Current Profit / Loss Position -2 pips
<ol start="4">
	<li><span style="font-size: 12pt;"><strong> LIMIT &amp; STOP ORDERS WITH BROKERS:</strong></span></li>
</ol>
RT220
GBP/USD
Short at 1.5800
Stop at 1.5860
Limit at 1.5450
Good luck today. Try not to get caught on what looks like a move that turns out to be a false break. The only way to protect yourself in this instance is to trade smaller positions with wider stop losses in line with your RISK MANAGEMENT tolerances. TRADING DISCIPLE will be paramount this week.
Scott Pickering
The Pip Accumulator
<a href="http://www.weeklyfxdrivethru.com">www.weeklyfxdrivethru.com</a>
Twitter: @ThePremService
Email: premiumservice@weeklyfxdrivethru.com

<strong>DISCLAIMER:</strong>

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