<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>

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<strong>DATE: Friday 17th October 2014
REF: #109</strong>

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<ol>
	<li><span style="font-size: 12pt;"><strong> OVERVIEW – INITIAL THOUGHTS:</strong></span></li>
</ol>
Good morning and welcome to the new subscribers from yesterday.

The markets after the huge volatile moves of the past few days are now consolidating and recovering. In the Forex markets the USD is weakening a little. There are so many flag patterns on the charts, if we do not resume the initial direction (USD strength) in the next couple of days, in my opinion, the flag patterns will become invalid and we will be subject to a momentum / directional change.

I am sidelined, apart from nursing 3 live trades from a few days ago all hedged. My max loss is 325 pips so it is not the end of the world. The only consideration with hedging it that I have double SWAP fees, although when one trade is positive it does not feel that bad.

I am expecting today, to be a very quiet day. It is a Friday and there will be many bruised traders sitting around saying to themselves “TGIF”.

Looking around, GOLD and COPPER are down and OIL has moved up a bit, but the equities markets are green all over the place right now. I just think that today will be a drift day.

I have a couple of great RADAR TRADES to post and I will do these via twitter later with charts.

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<ol start="2">
	<li><span style="font-size: 12pt;"><strong> KEY NEWS EVENTS TODAY (BASED UPON (NYC) EDT TIME ZONE):</strong></span></li>
</ol>
<span style="font-size: 10pt;"> USD: - Janet Yellen speaks and UoM Consumer Sentiment.</span>
<span style="font-size: 10pt;"> CAD: - Core CPi Sales.</span><strong> </strong>

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

There are no LIVE radar trades at the moment.

<strong>FLASH TRADES:</strong>

FT190
NZD/USD
Short at 0.7793
Stop at 0.8050
Limit at 0.6580
Price Now: 0.7954
Current Profit / Loss Position: -161 pips
(This pair is hedged from -100 pips)<strong> </strong>

FT202
USD/CAD
Long at 1.1340
Stop at 1.1170
Limit at 1.1570
Price Now: 1.1240
Current Profit / Loss Position: -100 pips
(This pair is hedged from -100 pips)<strong> </strong><strong> </strong>

<strong>FUNDAMENTAL TRADES:</strong>

FUN44
GBP/NZD
Long at 2.0507
Stop at 1.9800
Limit at 2.3200
Price Now: 2.0259
Current Profit / Loss Position: -248 pips
(This trade is hedged from -125 pips)

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<ol start="4">
	<li><span style="font-size: 12pt;"><strong> LIMIT &amp; STOP ORDERS WITH BROKERS:</strong></span></li>
</ol>
There are no limit orders with my brokers at this time.<strong> </strong>

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<ol start="5">
	<li><span style="font-size: 12pt;"><strong> FINAL THOUGHTS:</strong></span></li>
</ol>
It is a Friday. There are several geopolitical news events still troubling the markets so do not get caught in trade that you have to sit in over the weekend.

Good luck today and have a great weekend.

Scott Pickering
The Pip Accumulator
<a href="http://www.weeklyfxdrivethru.com">www.weeklyfxdrivethru.com</a>
Twitter: @ThePremService
Email: premiumserice@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.