INSERT INTO `vp_backup_wp_posts` VALUES (3095,16,'2014-01-20 15:36:03','2014-01-20 20:36:03','04.01.2014\n\n<b><span style=\"text-decoration: underline;\">1. INTRODUCTION:</span></b>\n\nHappy New Year one and all, I trust that this blog finds everyone in good health and raring to get trading started in 2014, that is if like me you are still a 2014 trading virgin\n\nThis blog will be shorter than usual and will be a “Scott look at 2014” with my initial trading thoughts for this year. In addition, I will also provide you with an update on the launch of the PREMIUM SERVICE.\n\nThe normal blog will return next weekend and will continue until the PREMIUM SERVICE is launched.\n\n<b><span style=\"text-decoration: underline;\">2.  MY VIEWS ON THE USD MAJORS THIS COMING YEAR 2014:</span></b>\n\nOver the holidays I have had plenty of time to sit back and strategize on my approach to 2014 and how it will vary from last year.\n\nThe major change in my recent trading style and strategy was brought about by the way the markets pushed and pulled traders around based on zero long term momentum, trend or direction. Inter-market correlations matter and count. There were huge disconnects in the second half of 2013.\n\nI see this disconnect continuing, hence my forward thinking into 2014 shows disconnects between the majors. My thoughts are that there will be more extended periods when currencies will act independently this year. Correlations will come and go.\n<p align=\"center\"><strong>Typical examples of “the disconnect” are the following correlations: -</strong></p>\n<p align=\"center\"><strong> USD / Gold</strong>\n<strong> AUD / NZD</strong>\n<strong> Commodity currencies / equities</strong>\n<strong> EUR / GBP</strong>\n<strong> CAD / USD</strong>\n<strong> JPY / S&amp;P</strong>\n<strong> AUD &amp; NZD / Copper</strong>\n<strong> EUR / CHF</strong>\n<strong> EUR/GBP<span style=\"line-height: 1.5em;\">/ GBP/CHF</span></strong>\n<strong> JPY &amp; CHF / Gold</strong></p>\nI know that it may be corny and you have probably read lots of 2014 predictions already, but I still want to do one, which, I will refer back to each quarter during 2014. I have not traded this year so far, I have just been looking at charts reading and listening to various pieces in the media and on the web.\n\nI will for the purpose of review during this year go through each USD major one by one with thoughts associated to that currency pair.\n\n<b><span style=\"text-decoration: underline;\">EUR/USD:</span></b>\n\nMy initial thoughts are that whilst I am a fundamental trader at heart and I believe this to be a good thing, it did impair my trading a little in 2013. Without doubt along with many traders fundamentally the belief was always that the EUR/USD was over-priced and that a correction lower was always on the cards towards to 1.2500 area. Even with a surprise rate cut late in 2013 we never really broke lower than 1.3000 last year.\n\nThe Eurozone is still starved of economic growth and there are many, many economic and social problems spread throughout the Eurozone.\n\nMy short list of issues facing the Eurozone is highlighted below: -\n<p style=\"text-align: center;\"> <i>AUSTERITY\n</i><i>GDP\n</i><i style=\"line-height: 1.5em;\">UNEMPLOYMENT\n</i><i style=\"line-height: 1.5em;\">HOUSING\n</i><i style=\"line-height: 1.5em;\">LOW CPi\n</i><i style=\"line-height: 1.5em;\">DEFLATION\n</i><i style=\"line-height: 1.5em;\">BAD DEBT\n</i><i style=\"line-height: 1.5em;\">SOCIAL UNREST\n</i><i style=\"line-height: 1.5em;\">SOCIAL SERVICES\n</i><i style=\"line-height: 1.5em;\">HEALTH CUTBACKS</i></p>\nThe monthly EUR/USD chart below shows that despite the Eurozone negative talk (and I have done my fair share) the pair is extremely resilient. There are more green monthly candlestick bars than red ones; in fact, it’s a 66/33 ratio in 2013 green over red. This hardly shows a currency pair under threat for most of the time. The chart also shows that a longer term bearish down sloping channel is still in play. As you can see we are most definitely at the higher reaches of the channel almost breaking it over the recent holidays.\n\n&nbsp;\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/01/EURUSD-M-04012014.png\"><img src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/01/EURUSD-M-04012014.png\" alt=\"EURUSD M 04012014\" width=\"1076\" height=\"543\" class=\"alignnone size-full wp-image-3094\" /></a>\n\n\nWith the above in mind, I am expecting that equity markets will pullback and aid USD strength, plus do not forget that “Tapering” has started and this is a major shift in FED policy. These two events will drive the EUR/USD lower,\n\nAdditionally, with the ECB under Draghi’s leadership and Merkel the puppet mistress at the controls they have yet to properly attack under funded banks, deflation and negative growth in the periphery. So far ECB hot air has kept the markets reasonably happy, but only to a point. Sooner or later a full-on bond-buying scheme like the FED’s QE programme will be required to add liquidity to the Eurozone economies, which should provide the necessary fuel to initiate growth. The banks need to lend to underpin the future prospects of the Eurozone.  I am not sure the LTRO approach will actually give the gusto required. To me, a further LTRO is yet another can being kicked down the road.\n\nDuring 2014 I think that Brussels will run out of cans to kick down the road and the Belgium hospitality industry should be a great investment. The reason for this investment tip is clear, as we will have umpteen Cheese and Wine ECB and Eurozone crisis meetings to finally fix things once and for all. Improvements in the U.S, will highlight how bad the Eurozone economy is in general in comparison and this will fuel the fire to demand action.\n\n<b><span style=\"text-decoration: underline;\">My EUR/USD prediction: -</span></b>\nWith the above happening, I see the EUR/USD trading below 1.3000 by the year-end; initially I see a test of the 1.2500/1.2600 lows.\n\n&nbsp;\n\n<b><span style=\"text-decoration: underline;\">GBP/USD:</span></b>\n\nWithout doubt, the recovery in the UK was for me the joker in the pack towards the end of 2013. Carney (Bank of England, Governor) is doing his best to keep a lid on matters but the UK unlike the Eurozone and the U.S. is NOT suffering from a deflationary set of economic statistics. Whilst some economic data is patchy there is no denial that the UK is on a better economic footing than the Eurozone. It highlights that the one size fits all approach of the Eurozone does NOT work.\n\nThe chart below shows the 2008 high of the GBP/USD just over an exchange rate of 2.000, just before the BOE Inflation hearing from the then governor Merv “The Swerve” King. It dropped on his statement for 6 straight months to 1.3520.\n\nWe are now in a channel from 1.5000 to 1.6900.\n\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/01/GBPUSD-M-04012014.png\"><img src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/01/GBPUSD-M-04012014.png\" alt=\"GBPUSD M 04012014\" width=\"1076\" height=\"543\" class=\"alignnone size-full wp-image-3097\" /></a>\n\n\n<b><span style=\"text-decoration: underline;\">My GBP/USD prediction: -</span></b>\nCross–rates I am hoping will be my big trades in 2014 (see much more later). I feel that if the EUR/USD falls, the EUR/GBP will go with it and the GBP/USD which used to drop in sympathy with the EUR, will this year instead rise and I am predicting a re-test of the 61.8% retracement of the big monthly move on the chart above of 1.8250 will take place. The EUR/GBP is crucial to this predicted move. Should this move happen some great unwinds of cross-rates will happen and 2014 could be an excellent trading year with momentum and direction.\n\n&nbsp;\n\n<b><span style=\"text-decoration: underline;\">AUD/USD:</span></b>\n\nThe worst kept secret in the Central Bank Governors world is out...RBA Governor Stevens wants the AUD currency weakened and he sees a AUD/USD exchange rate of about 0.8500 as a rate for the markets to aim for. Without doubt the equity markets will have the ultimate say here but tapering in the U.S. has started and equities should come under pressure, which, should force this pair lower.\n\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/01/AUDUSD-M-04012014.png\"><img src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/01/AUDUSD-M-04012014.png\" alt=\"AUDUSD M 04012014\" width=\"1076\" height=\"543\" class=\"alignnone size-full wp-image-3098\" /></a>\n\n<b><span style=\"text-decoration: underline;\">My AUD/USD prediction: -</span></b>\n\nI see the 50% retracement on the monthly chart above as the initial target and after that 0.8000 as the second objective in 2014 for this pair. This pair will yo-yo a bit given the fact of its relationship to the equity markets but the RBA is determined to weaken the AUD currency. If you learn anything…never argue or trade against a central bank.\nIn addition do not forget Gold, Copper and China. All three have huge impacts on this currency pair. Gold is under pressure because as a hedge against inflation, there is zero inflation to worry about so it is overpriced. It tested critical $1180.00 support over the holidays and bounced but it will re-test again. A break lower will take the AUD/USD with it. <span style=\"line-height: 1.5em;\">These factors make my 0.8000 target in 2014 look pretty tame.</span>\n\n&nbsp;\n\n<b><span style=\"text-decoration: underline;\">NZD/USD:</span></b>\n\nContrary to the AUD, the RBNZ Governor Wheeler “the dealer” wants to raise rates and send the NZD higher in 2014 to control bubbles in the New Zealand economy. I can feel a cross-rate sermon coming on again. The AUD/NZD will be a focus for me in 2014, given that the RBA and RBNZ are on different paths.\n\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/01/NZDUSD-M-04012014.png\"><img src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/01/NZDUSD-M-04012014.png\" alt=\"NZDUSD M 04012014\" width=\"1076\" height=\"543\" class=\"alignnone size-full wp-image-3099\" /></a>\n\nLooking at the chart above and taking into considering equities, Gold, Copper and China. Common sense tells me that this pair should follow the AUD/USD lower, but I am 100% convinced. The cross-rate effect on the AUD/NZD could keep this pair well supported and inflated, add to this the RBNZ desire to raise rates and this pair could stay in the lofty heights of 0.7800 to 0.8800 for the year.\n\n<b><span style=\"text-decoration: underline;\">My NZD/USD prediction: -</span></b>\n\nThis is hard to write as for most of 2013 I have been trying to short this pair almost continually. This year for reasons already stated (RBA determination and the AUD/NZD cross-rate effect) I believe this pair will be the surprise and stay above 0.7800. I see a test of all-time highs being on the cards if the RBA forces the AUD lower and directly intervenes. Do not rule that out.\n\n&nbsp;\n\n<b><span style=\"text-decoration: underline;\">USD/JPY:</span></b>\n\nIt is very easy to say 110.00 and maybe 120.00 is the target for this pair in 2014. Given the reputations and testicles on the chopping block, plus the amount of YEN being thrown at the markets an exchange rate of 120.00 seems achievable in the long term. The BOJ has committed considerably more funds than BEN at his best at the FED ever did.  It would therefore be brave nay foolish to stand in front of the USD/JPY freight train whilst the currency pair weakens to places not seen for years. Having written this, I think in true forex style we need to back test a breakout first before heading higher to the dizzy heights where the air is thin!!\n\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/01/USDJPY-M-04012014.png\"><img src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/01/USDJPY-M-04012014.png\" alt=\"USDJPY M 04012014\" width=\"1076\" height=\"543\" class=\"alignnone size-full wp-image-3100\" /></a>\n\nThe monthly chart above shows the move from the highs of 124.23-pre financial crisis to the lows of 75.47-post financial crisis.\n\nA test of the 61.8% retracement seems to be on the cards at 105.59. This will be huge resistance.\n\n<b><span style=\"text-decoration: underline;\">My USD/JPY prediction: -</span></b>\n\nBreakouts are nearly almost always re-tested for validity. I believe that the USD/JPY will re-test lower than 100.00, probably 98.00 which was a major psychological number on the way higher and lower with this pair. After a test of 98.00 we head higher (Yen weakness). Equities will play their part taking this pair lower.\n\n&nbsp;\n\n<b><span style=\"text-decoration: underline;\">USD/CHF:</span></b>\n\nBasically, we have been held by 0.8750 for the past two years and we recently re-tested this low to bounce off it. If my Eurozone issues are predicted correctly I see this pair heading higher once again. This pair is one of my long, long, longer term trades for 2014, and I am looking to buy on a dip very soon.\n\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/01/USDCHF-M-04012014.png\"><img src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/01/USDCHF-M-04012014.png\" alt=\"USDCHF M 04012014\" width=\"1076\" height=\"543\" class=\"alignnone size-full wp-image-3101\" /></a>\n\n<b><span style=\"text-decoration: underline;\">My USD/CHF prediction: -</span></b>\n\nIf the EUR/USD falls as predicted this pair will test parity in 2014. A break through resistance at 0.9415 will give my prediction the weight it needs to push onwards and upwards.\n\n&nbsp;\n\n<b><span style=\"text-decoration: underline;\">USD/CAD:</span></b>\n\nThis is the most stubborn pain in the ass currency pair in the market, for me to follow anyway. I do however see that this pair should stay above parity in 2014. I think that we move higher as equities fall and then as equities stabilize later in 2014 we will pullback a little.\nThe monthly chart below shows that we are in an uptrend off the lows of 0.9640, to me I see this pattern continuing as we re-test higher levels.\n\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/01/USDCAD-M-04012014.png\"><img src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/01/USDCAD-M-04012014.png\" alt=\"USDCAD M 04012014\" width=\"1076\" height=\"543\" class=\"alignnone size-full wp-image-3102\" /></a>\n\n<b><span style=\"text-decoration: underline;\">My USD/CAD prediction: -</span></b>\n\nThere may be a re-test of the bullish trend line on the chart above but I do feel overall that we will be re-testing the 50% and maybe even the 61.8% Fibonacci levels of 1.1200 and 1.1665.\n\n<b style=\"line-height: 1.5em;\"><span style=\"text-decoration: underline;\"> </span></b><b><span style=\"text-decoration: underline;\">3. MY KEY FOCUS IN 2014:</span></b>\n\nYou would have noticed in the later blogs of 2013 my trading style and emphasis on what to trade took on a new direction.\n\nThe main reason for this was due to disconnects in the marketplace. Fundamentals count, but so do inter-market relationships/correlations. There were so many disconnects in 2013, I had to adjust my way of thinking and trading. I see this continuing in 2014 as well as this has been reflected already in the way I view the moves in the USD majors. There is a knock-on effect and this is my key focus this year.\n\nThe lack of momentum and direction in the USD majors, in particular, since the summer last year, required me to focus on a different style of trading. The push and pull moves for no reason, were frankly just annoying me, and, news events or poor news sound-bytes were causing wild swings in the major pairs that were just crazy and on many occasions based on nothing concrete, or remotely resembling factual data.\n\nThis prompted the introduction of pull-back strategy trades I called FLASH TRADES, and, a more disciplined approach to longer-term trades that I defined as RADAR TRADES.\n<p style=\"text-align: center;\"><strong>RADAR TRADES: These are pre-meditated limit order trades. I hope that these will be longer-term trades.</strong></p>\n<p style=\"text-align: center;\"><strong>FLASH TRADES: These are more of an intra-day trade. They may develop into “Swing style” trades but will probably be more short term.</strong><strong> </strong></p>\nAt the same time, I started to look more and more at cross-rate pairs and exotic crosses. These were largely successful from September 2013. This focus will continue in 2014. I will still trade the majors, but I think more from a FLASH TRADE perspective. My initial focus in 2014 will be to look at the cross-rates. My primary reason for this is that since 2008 these pairs have largely been directionally lower as equities have risen to all time highs. When equities roll over “The unwinding will begin”. With the commodity currencies it has already started and there are 1,000’s of pips still available. We will be unwinding 5 and 6 years of moves.\n<p style=\"text-align: center;\">Be prepared for many trades in the following pairs in 2014: -</p>\n<p style=\"text-align: center;\"> EUR/AUD\nGBP/AUD\nEUR/NZD\nGBP/NZD\nEUR/CAD\nGBP/CAD</p>\n<p align=\"center\">Plus the\nAUD/NZD\nEUR/GBP\nAUD/CHF\n<span style=\"line-height: 1.5em;\">NZD/CHF</span></p>\nThe moves can be wild in most of these pairs as they are not well-funded but they can be very directional with risk off or risk on conditions and offer good returns. The key is to take smaller positions with wider stops to cope with the volatility. A point to note is that these pairs can be very costly overnight carry trades. To trade these we will have to be clever, at the same time I will be assessing risk prior to entries to ensure minimum risk maximum profitability ratios.\n\nTrading these pairs is all about a trading discipline\n\nLook my trading style - it’s simple: -\n<p align=\"center\"><strong><i>FUNDAMENTALS MATTER TO ME</i></strong></p>\n<p align=\"center\"><strong><i>I TRADE TO MAKE MONEY…NOT TO PICK TOPS OR BOTTOMS</i></strong></p>\n<p align=\"center\"><strong><i>I TRADE LOW RISK</i></strong></p>\n<p align=\"center\"><strong><i>I DO NOT CHASE MARKETS</i></strong></p>\n<p align=\"center\"><strong><i>I LIKE THE TRADES TO COME TO ME</i></strong></p>\n<p align=\"center\"><strong><i>I AM NOT A GREEDY TRADER</i></strong></p>\n<p align=\"center\"><strong><i>I LIKE TO TRADE MOMENTUMS IN THE DIRECTION OF TRENDS</i></strong></p>\n<p align=\"center\"><strong><i>I USE FIBONACCI LEVELS TO ENTER &amp; EXIT ON MANY TRADES</i></strong></p>\n<p align=\"center\"><strong><i>PLUS...</i></strong></p>\n<p align=\"center\"><strong><i>MY TRADING STYLE IS MIXED EVEN WITH THE ABOVE KEY BASICS</i></strong></p>\n<p align=\"center\"><strong><i>I USE THE PULLBACK STRATEGY TO ENTER AND I LIKE SWING AND LONGER-TERM TRADES (WHEN POSSIBLE)</i></strong></p>\n<b><span style=\"text-decoration: underline;\">4. MAJOR FOREX NEWS THIS WEEK THAT INTERESTS ME:</span></b>\n\nSUNDAY: N/A\n\nMONDAY: USD – ISM Non- Manufacturing PMi.\nMONDAY: AUD – Trade Balance.\n\nTUESDAY: CAD – Trade Balance\nTUESDAY: USD – Trade Balance\nTUESDAY: CNY – CPi, GDP and Trade Balance.\n\nWEDNESDAY: USD – ADP Non- Farm Employment change and FOMC minutes.\nWEDNESDAY: AUD – Retail Sales.\n\nTHURSDAY: GBP – Interest Rates\nTHURSDAY: EUR – Interest Rates and ECB Press Conference.\n\nFRIDAY: CAD – Employment rates/changes\nFRIDAY: USD – Non-Farm Employment Change and Unemployment Rates.\n\n&nbsp;\n\n<b><span style=\"text-decoration: underline;\">5. THE PREMIUM SERVICE:</span></b>\n<p align=\"center\"><b><span style=\"text-decoration: underline;\">THE WEEKLY FX DRIVE-THRU</span></b><b>\n<span style=\"text-decoration: underline;\">PREMIUM SERVICE  2014 </span></b>\n\nI am still working with my software developer to have this addition to the WEEKLY FX DRIVE-THRU ready within the next two weeks. My intention is to launch the PREMIUM SERVICE subscription service as soon as the markets revert back to normal liquidity.\n\nWe have noticed however that a number people have tried to register already., For anyone who has tried to register their details were deleted by the system under beta testing and even if you believe that you have an existing login or username that is not the case. As soon as I write announcing that the PREMIUM SERVICE is ready, sorry, but you will have to register again.\n\nFor those new readers below I detail the salient points regarding the premium service: -\n\nAs soon as the PREMIUM SERVICE is launched THE WEEKLY FX DRIVE-THRU in its current format will change. It will remain a weekly blog post although it will be more concise in length.\n\nMy “RADAR and FLASH TRADES” will now only be available via the Premium Service. In addition, “TRADE IDEAS &amp; SET UPS” that are tweeted will now only be available to Premium Service subscribers by email and in addition they can be viewed inside the secure section of my website.\n\nBelow as examples of the RADAR and FLASH TRADES excel spreadsheets I show the monthly statements for December 2013. (These were real trades that were tweeted or posted in this blog).\n\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2013/12/RADAR-TRADES-21122013.png\"><img class=\"aligncenter size-full wp-image-2379\" alt=\"RADAR TRADES 21122013\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2013/12/RADAR-TRADES-21122013.png\" width=\"455\" /></a>\n\n&nbsp;\n\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2013/12/FLASH-TRADES-21122013.png\"><img class=\"aligncenter size-full wp-image-2378\" alt=\"FLASH TRADES 21122013\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2013/12/FLASH-TRADES-21122013.png\" width=\"411\" height=\"437\" /></a>\n\nIn 2013, feedback from subscribers to the “Drive-Thru”, or from readers of the blog via Google+, LinkedIn or Twitter have been raising many questions about Forex Trading in general, such as: -\n\n</p><p align=\"center\"><b> </b></p>\n<p align=\"center\"><b>Placing Stops</b></p>\n<p align=\"center\"><b>Strategies on entry and exit</b></p>\n<p align=\"center\"><b>Working with a Trade Plan</b></p>\n<p align=\"center\"><b>What is a Trade Plan?</b></p>\n<p align=\"center\"><b>Risk Assessment</b></p>\n<p align=\"center\"><b>When to fade trades</b></p>\n<p align=\"center\"><b>How to cost average effectively</b></p>\n<p align=\"center\"><b>How to use Trade Zones effectively - Buy Zones and Sell zones</b></p>\n<p align=\"center\"><b>Working with Fibonacci levels</b></p>\n<p align=\"center\"><b>How to find a good broker to partner with</b></p>\n<p align=\"center\"><b>Chart analysis</b></p>\nInside the secure area of my website, you will be able to reference information on all of the above topics plus much more. The library of information will grow during 2014 and my goal is to provide a comprehensive support area to traders of all experience levels. The PREMIUM SERVICE in its secure area will be a learning and reference area to subscribers.\n\nI am also looking to offer training and information based “Webinars” to Premium Service subscription members, if I have sufficient participants. These will be fee based to cover costs.\n\nWhilst upon first look, it may appear that the Premium Service is directed solely at new traders, or those with intermediate skill levels, please note this is not my intention. Trading can be lonely, and sometimes it is good to feel that you are part of a team. With this in mind, I am thinking that a “Chat Room” style area would be of benefit to all traders to share ideas and trade set-ups. Plus, whether a new trader or experienced trader it is always good to have a library of information available close at hand.\n\nWhat are the costs of membership?\n\nThere will be 40 weekly blogs / issues per year (I will not write in the Summer and over Christmas periods), with an unlimited amount of follow ups during the week to review and act upon “Radar Trades” and issues emanating from previous blogs. In addition trade ideas for trades already in play would also be part of the service, as I will be trading the posted set-ups.\n\nI do not want to become a finance administrator on a daily basis so I want to keep the subscription options as few as possible.\n<p align=\"center\"><b>ANNUAL (40 WEEK) SUBSCRIPTION: $750.00 (this equates to $18.75 per week) </b></p>\n<p align=\"center\"><b>20 WEEKS SUBSCRIPTION: $450.00 (this equates to $22.50 per week) </b></p>\n<p align=\"center\"><b>10 WEEKS SUBSCRIPTION: $250.00 (this equates to $25.00 per week) </b></p>\n<p align=\"center\"><b>(ALL FEES ARE IN USD)</b></p>\nShould you have any questions regarding the PREMIUM SERVICE please email me at premiumservice@thepipaccumulator.com\n\n&nbsp;\n\n<b><span style=\"text-decoration: underline;\">9. FINAL THOUGHTS:</span></b>\n\nIt is a busy week for my first week back in the saddle.\n\nWe should see liquidity come back to the market this week and currency moves should be more sustainable.\n\nI will be posting RADAR and FLASH trade set ups via twitter as the week progresses and they will be performance measured via spreadsheets in next week blog.\n\nUntil we reach full liquidity if you are going to trade keep the positions smaller.\n\nGood luck,\n\nScott Pickering\nThe Pip Accumulator\nSaturday January 4<sup>th</sup> 2014\n\nEMAIL / FOLLOW ME AT:\n<a href=\"mailto:drivethru@thepipaccumulator.com\">drivethru@thepipaccumulator.com\n</a>Twitter: @pipaccumulator\n<span style=\"line-height: 1.5em;\">Google+/scottpickering\n</span><span style=\"line-height: 1.5em;\">StockTwits; thepipaccumulator</span>\n\n&nbsp;\n\n&nbsp;','MY TRADE IDEAS AND THOUGHTS LOOKING FORWARD AT 2014','','inherit','open','closed','','2456-autosave-v1','','','2014-01-20 15:36:03','2014-01-20 20:36:03','',2456,'https://weeklyfxdrivethru.com/2456-autosave-v1/',0,'revision','',0),(3096,16,'2014-01-20 15:30:18','2014-01-20 20:30:18','04.01.2014\r\n\r\n<b><span style=\"text-decoration: underline;\">1. INTRODUCTION:</span></b>\r\n\r\nHappy New Year one and all, I trust that this blog finds everyone in good health and raring to get trading started in 2014, that is if like me you are still a 2014 trading virgin\r\n\r\nThis blog will be shorter than usual and will be a “Scott look at 2014” with my initial trading thoughts for this year. In addition, I will also provide you with an update on the launch of the PREMIUM SERVICE.\r\n\r\nThe normal blog will return next weekend and will continue until the PREMIUM SERVICE is launched.\r\n\r\n<b><span style=\"text-decoration: underline;\">2.  MY VIEWS ON THE USD MAJORS THIS COMING YEAR 2014:</span></b>\r\n\r\nOver the holidays I have had plenty of time to sit back and strategize on my approach to 2014 and how it will vary from last year.\r\n\r\nThe major change in my recent trading style and strategy was brought about by the way the markets pushed and pulled traders around based on zero long term momentum, trend or direction. Inter-market correlations matter and count. There were huge disconnects in the second half of 2013.\r\n\r\nI see this disconnect continuing, hence my forward thinking into 2014 shows disconnects between the majors. My thoughts are that there will be more extended periods when currencies will act independently this year. Correlations will come and go.\r\n<p align=\"center\"><strong>Typical examples of “the disconnect” are the following correlations: -</strong></p>\r\n<p align=\"center\"><strong> USD / Gold</strong>\r\n<strong> AUD / NZD</strong>\r\n<strong> Commodity currencies / equities</strong>\r\n<strong> EUR / GBP</strong>\r\n<strong> CAD / USD</strong>\r\n<strong> JPY / S&amp;P</strong>\r\n<strong> AUD &amp; NZD / Copper</strong>\r\n<strong> EUR / CHF</strong>\r\n<strong> EUR/GBP<span style=\"line-height: 1.5em;\">/ GBP/CHF</span></strong>\r\n<strong> JPY &amp; CHF / Gold</strong></p>\r\nI know that it may be corny and you have probably read lots of 2014 predictions already, but I still want to do one, which, I will refer back to each quarter during 2014. I have not traded this year so far, I have just been looking at charts reading and listening to various pieces in the media and on the web.\r\n\r\nI will for the purpose of review during this year go through each USD major one by one with thoughts associated to that currency pair.\r\n\r\n<b><span style=\"text-decoration: underline;\">EUR/USD:</span></b>\r\n\r\nMy initial thoughts are that whilst I am a fundamental trader at heart and I believe this to be a good thing, it did impair my trading a little in 2013. Without doubt along with many traders fundamentally the belief was always that the EUR/USD was over-priced and that a correction lower was always on the cards towards to 1.2500 area. Even with a surprise rate cut late in 2013 we never really broke lower than 1.3000 last year.\r\n\r\nThe Eurozone is still starved of economic growth and there are many, many economic and social problems spread throughout the Eurozone.\r\n\r\nMy short list of issues facing the Eurozone is highlighted below: -\r\n<p style=\"text-align: center;\"> <i>AUSTERITY\r\n</i><i>GDP\r\n</i><i style=\"line-height: 1.5em;\">UNEMPLOYMENT\r\n</i><i style=\"line-height: 1.5em;\">HOUSING\r\n</i><i style=\"line-height: 1.5em;\">LOW CPi\r\n</i><i style=\"line-height: 1.5em;\">DEFLATION\r\n</i><i style=\"line-height: 1.5em;\">BAD DEBT\r\n</i><i style=\"line-height: 1.5em;\">SOCIAL UNREST\r\n</i><i style=\"line-height: 1.5em;\">SOCIAL SERVICES\r\n</i><i style=\"line-height: 1.5em;\">HEALTH CUTBACKS</i></p>\r\nThe monthly EUR/USD chart below shows that despite the Eurozone negative talk (and I have done my fair share) the pair is extremely resilient. There are more green monthly candlestick bars than red ones; in fact, it’s a 66/33 ratio in 2013 green over red. This hardly shows a currency pair under threat for most of the time. The chart also shows that a longer term bearish down sloping channel is still in play. As you can see we are most definitely at the higher reaches of the channel almost breaking it over the recent holidays.\r\n\r\n&nbsp;\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/01/EURUSD-M-04012014.png\"><img src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/01/EURUSD-M-04012014.png\" alt=\"EURUSD M 04012014\" width=\"1076\" height=\"543\" class=\"alignnone size-full wp-image-3094\" /></a>\r\n\r\n\r\nWith the above in mind, I am expecting that equity markets will pullback and aid USD strength, plus do not forget that “Tapering” has started and this is a major shift in FED policy. These two events will drive the EUR/USD lower,\r\n\r\nAdditionally, with the ECB under Draghi’s leadership and Merkel the puppet mistress at the controls they have yet to properly attack under funded banks, deflation and negative growth in the periphery. So far ECB hot air has kept the markets reasonably happy, but only to a point. Sooner or later a full-on bond-buying scheme like the FED’s QE programme will be required to add liquidity to the Eurozone economies, which should provide the necessary fuel to initiate growth. The banks need to lend to underpin the future prospects of the Eurozone.  I am not sure the LTRO approach will actually give the gusto required. To me, a further LTRO is yet another can being kicked down the road.\r\n\r\nDuring 2014 I think that Brussels will run out of cans to kick down the road and the Belgium hospitality industry should be a great investment. The reason for this investment tip is clear, as we will have umpteen Cheese and Wine ECB and Eurozone crisis meetings to finally fix things once and for all. Improvements in the U.S, will highlight how bad the Eurozone economy is in general in comparison and this will fuel the fire to demand action.\r\n\r\n<b><span style=\"text-decoration: underline;\">My EUR/USD prediction: -</span></b>\r\nWith the above happening, I see the EUR/USD trading below 1.3000 by the year-end; initially I see a test of the 1.2500/1.2600 lows.\r\n\r\n&nbsp;\r\n\r\n<b><span style=\"text-decoration: underline;\">GBP/USD:</span></b>\r\n\r\nWithout doubt, the recovery in the UK was for me the joker in the pack towards the end of 2013. Carney (Bank of England, Governor) is doing his best to keep a lid on matters but the UK unlike the Eurozone and the U.S. is NOT suffering from a deflationary set of economic statistics. Whilst some economic data is patchy there is no denial that the UK is on a better economic footing than the Eurozone. It highlights that the one size fits all approach of the Eurozone does NOT work.\r\n\r\nThe chart below shows the 2008 high of the GBP/USD just over an exchange rate of 2.000, just before the BOE Inflation hearing from the then governor Merv “The Swerve” King. It dropped on his statement for 6 straight months to 1.3520.\r\n\r\nWe are now in a channel from 1.5000 to 1.6900.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/01/GBPUSD-M-04012014.png\"><img class=\"aligncenter size-large wp-image-2460\" alt=\"GBPUSD M 04012014\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/01/GBPUSD-M-04012014.png\" width=\"660\" /></a>\r\n\r\n&nbsp;\r\n\r\n<b><span style=\"text-decoration: underline;\">My GBP/USD prediction: -</span></b>\r\nCross–rates I am hoping will be my big trades in 2014 (see much more later). I feel that if the EUR/USD falls, the EUR/GBP will go with it and the GBP/USD which used to drop in sympathy with the EUR, will this year instead rise and I am predicting a re-test of the 61.8% retracement of the big monthly move on the chart above of 1.8250 will take place. The EUR/GBP is crucial to this predicted move. Should this move happen some great unwinds of cross-rates will happen and 2014 could be an excellent trading year with momentum and direction.\r\n\r\n&nbsp;\r\n\r\n<b><span style=\"text-decoration: underline;\">AUD/USD:</span></b>\r\n\r\nThe worst kept secret in the Central Bank Governors world is out...RBA Governor Stevens wants the AUD currency weakened and he sees a AUD/USD exchange rate of about 0.8500 as a rate for the markets to aim for. Without doubt the equity markets will have the ultimate say here but tapering in the U.S. has started and equities should come under pressure, which, should force this pair lower.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/01/AUDUSD-M-04012014.png\"><img class=\"aligncenter size-large wp-image-2462\" alt=\"AUDUSD M 04012014\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/01/AUDUSD-M-04012014.png\" width=\"660\" /></a>\r\n\r\n<b><span style=\"text-decoration: underline;\">My AUD/USD prediction: -</span></b>\r\n\r\nI see the 50% retracement on the monthly chart above as the initial target and after that 0.8000 as the second objective in 2014 for this pair. This pair will yo-yo a bit given the fact of its relationship to the equity markets but the RBA is determined to weaken the AUD currency. If you learn anything…never argue or trade against a central bank.\r\nIn addition do not forget Gold, Copper and China. All three have huge impacts on this currency pair. Gold is under pressure because as a hedge against inflation, there is zero inflation to worry about so it is overpriced. It tested critical $1180.00 support over the holidays and bounced but it will re-test again. A break lower will take the AUD/USD with it. <span style=\"line-height: 1.5em;\">These factors make my 0.8000 target in 2014 look pretty tame.</span>\r\n\r\n&nbsp;\r\n\r\n<b><span style=\"text-decoration: underline;\">NZD/USD:</span></b>\r\n\r\nContrary to the AUD, the RBNZ Governor Wheeler “the dealer” wants to raise rates and send the NZD higher in 2014 to control bubbles in the New Zealand economy. I can feel a cross-rate sermon coming on again. The AUD/NZD will be a focus for me in 2014, given that the RBA and RBNZ are on different paths.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/01/NZDUSD-M-04012014.png\"><img class=\"aligncenter size-large wp-image-2461\" alt=\"NZDUSD M 04012014\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/01/NZDUSD-M-04012014.png\" width=\"660\" /></a>\r\n\r\nLooking at the chart above and taking into considering equities, Gold, Copper and China. Common sense tells me that this pair should follow the AUD/USD lower, but I am 100% convinced. The cross-rate effect on the AUD/NZD could keep this pair well supported and inflated, add to this the RBNZ desire to raise rates and this pair could stay in the lofty heights of 0.7800 to 0.8800 for the year.\r\n\r\n<b><span style=\"text-decoration: underline;\">My NZD/USD prediction: -</span></b>\r\n\r\nThis is hard to write as for most of 2013 I have been trying to short this pair almost continually. This year for reasons already stated (RBA determination and the AUD/NZD cross-rate effect) I believe this pair will be the surprise and stay above 0.7800. I see a test of all-time highs being on the cards if the RBA forces the AUD lower and directly intervenes. Do not rule that out.\r\n\r\n&nbsp;\r\n\r\n<b><span style=\"text-decoration: underline;\">USD/JPY:</span></b>\r\n\r\nIt is very easy to say 110.00 and maybe 120.00 is the target for this pair in 2014. Given the reputations and testicles on the chopping block, plus the amount of YEN being thrown at the markets an exchange rate of 120.00 seems achievable in the long term. The BOJ has committed considerably more funds than BEN at his best at the FED ever did.  It would therefore be brave nay foolish to stand in front of the USD/JPY freight train whilst the currency pair weakens to places not seen for years. Having written this, I think in true forex style we need to back test a breakout first before heading higher to the dizzy heights where the air is thin!!\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/01/USDJPY-M-04012014.png\"><img class=\"aligncenter size-large wp-image-2465\" alt=\"USDJPY M 04012014\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/01/USDJPY-M-04012014.png\" width=\"660\" /></a>\r\n\r\nThe monthly chart above shows the move from the highs of 124.23-pre financial crisis to the lows of 75.47-post financial crisis.\r\n\r\nA test of the 61.8% retracement seems to be on the cards at 105.59. This will be huge resistance.\r\n\r\n<b><span style=\"text-decoration: underline;\">My USD/JPY prediction: -</span></b>\r\n\r\nBreakouts are nearly almost always re-tested for validity. I believe that the USD/JPY will re-test lower than 100.00, probably 98.00 which was a major psychological number on the way higher and lower with this pair. After a test of 98.00 we head higher (Yen weakness). Equities will play their part taking this pair lower.\r\n\r\n&nbsp;\r\n\r\n<b><span style=\"text-decoration: underline;\">USD/CHF:</span></b>\r\n\r\nBasically, we have been held by 0.8750 for the past two years and we recently re-tested this low to bounce off it. If my Eurozone issues are predicted correctly I see this pair heading higher once again. This pair is one of my long, long, longer term trades for 2014, and I am looking to buy on a dip very soon.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/01/USDCHF-M-04012014.png\"><img class=\"aligncenter size-large wp-image-2464\" alt=\"USDCHF M 04012014\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/01/USDCHF-M-04012014.png\" width=\"660\" /></a>\r\n\r\n<b><span style=\"text-decoration: underline;\">My USD/CHF prediction: -</span></b>\r\n\r\nIf the EUR/USD falls as predicted this pair will test parity in 2014. A break through resistance at 0.9415 will give my prediction the weight it needs to push onwards and upwards.\r\n\r\n&nbsp;\r\n\r\n<b><span style=\"text-decoration: underline;\">USD/CAD:</span></b>\r\n\r\nThis is the most stubborn pain in the ass currency pair in the market, for me to follow anyway. I do however see that this pair should stay above parity in 2014. I think that we move higher as equities fall and then as equities stabilize later in 2014 we will pullback a little.\r\nThe monthly chart below shows that we are in an uptrend off the lows of 0.9640, to me I see this pattern continuing as we re-test higher levels.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/01/USDCAD-M-04012014.png\"><img class=\"aligncenter size-large wp-image-2463\" alt=\"USDCAD M 04012014\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/01/USDCAD-M-04012014.png\" width=\"660\" /></a>\r\n\r\n<b><span style=\"text-decoration: underline;\">My USD/CAD prediction: -</span></b>\r\n\r\nThere may be a re-test of the bullish trend line on the chart above but I do feel overall that we will be re-testing the 50% and maybe even the 61.8% Fibonacci levels of 1.1200 and 1.1665.\r\n\r\n<b style=\"line-height: 1.5em;\"><span style=\"text-decoration: underline;\"> </span></b><b><span style=\"text-decoration: underline;\">3. MY KEY FOCUS IN 2014:</span></b>\r\n\r\nYou would have noticed in the later blogs of 2013 my trading style and emphasis on what to trade took on a new direction.\r\n\r\nThe main reason for this was due to disconnects in the marketplace. Fundamentals count, but so do inter-market relationships/correlations. There were so many disconnects in 2013, I had to adjust my way of thinking and trading. I see this continuing in 2014 as well as this has been reflected already in the way I view the moves in the USD majors. There is a knock-on effect and this is my key focus this year.\r\n\r\nThe lack of momentum and direction in the USD majors, in particular, since the summer last year, required me to focus on a different style of trading. The push and pull moves for no reason, were frankly just annoying me, and, news events or poor news sound-bytes were causing wild swings in the major pairs that were just crazy and on many occasions based on nothing concrete, or remotely resembling factual data.\r\n\r\nThis prompted the introduction of pull-back strategy trades I called FLASH TRADES, and, a more disciplined approach to longer-term trades that I defined as RADAR TRADES.\r\n<p style=\"text-align: center;\"><strong>RADAR TRADES: These are pre-meditated limit order trades. I hope that these will be longer-term trades.</strong></p>\r\n<p style=\"text-align: center;\"><strong>FLASH TRADES: These are more of an intra-day trade. They may develop into “Swing style” trades but will probably be more short term.</strong><strong> </strong></p>\r\nAt the same time, I started to look more and more at cross-rate pairs and exotic crosses. These were largely successful from September 2013. This focus will continue in 2014. I will still trade the majors, but I think more from a FLASH TRADE perspective. My initial focus in 2014 will be to look at the cross-rates. My primary reason for this is that since 2008 these pairs have largely been directionally lower as equities have risen to all time highs. When equities roll over “The unwinding will begin”. With the commodity currencies it has already started and there are 1,000’s of pips still available. We will be unwinding 5 and 6 years of moves.\r\n<p style=\"text-align: center;\">Be prepared for many trades in the following pairs in 2014: -</p>\r\n<p style=\"text-align: center;\"> EUR/AUD\r\nGBP/AUD\r\nEUR/NZD\r\nGBP/NZD\r\nEUR/CAD\r\nGBP/CAD</p>\r\n<p align=\"center\">Plus the\r\nAUD/NZD\r\nEUR/GBP\r\nAUD/CHF\r\n<span style=\"line-height: 1.5em;\">NZD/CHF</span></p>\r\nThe moves can be wild in most of these pairs as they are not well-funded but they can be very directional with risk off or risk on conditions and offer good returns. The key is to take smaller positions with wider stops to cope with the volatility. A point to note is that these pairs can be very costly overnight carry trades. To trade these we will have to be clever, at the same time I will be assessing risk prior to entries to ensure minimum risk maximum profitability ratios.\r\n\r\nTrading these pairs is all about a trading discipline\r\n\r\nLook my trading style - it’s simple: -\r\n<p align=\"center\"><strong><i>FUNDAMENTALS MATTER TO ME</i></strong></p>\r\n<p align=\"center\"><strong><i>I TRADE TO MAKE MONEY…NOT TO PICK TOPS OR BOTTOMS</i></strong></p>\r\n<p align=\"center\"><strong><i>I TRADE LOW RISK</i></strong></p>\r\n<p align=\"center\"><strong><i>I DO NOT CHASE MARKETS</i></strong></p>\r\n<p align=\"center\"><strong><i>I LIKE THE TRADES TO COME TO ME</i></strong></p>\r\n<p align=\"center\"><strong><i>I AM NOT A GREEDY TRADER</i></strong></p>\r\n<p align=\"center\"><strong><i>I LIKE TO TRADE MOMENTUMS IN THE DIRECTION OF TRENDS</i></strong></p>\r\n<p align=\"center\"><strong><i>I USE FIBONACCI LEVELS TO ENTER &amp; EXIT ON MANY TRADES</i></strong></p>\r\n<p align=\"center\"><strong><i>PLUS...</i></strong></p>\r\n<p align=\"center\"><strong><i>MY TRADING STYLE IS MIXED EVEN WITH THE ABOVE KEY BASICS</i></strong></p>\r\n<p align=\"center\"><strong><i>I USE THE PULLBACK STRATEGY TO ENTER AND I LIKE SWING AND LONGER-TERM TRADES (WHEN POSSIBLE)</i></strong></p>\r\n<b><span style=\"text-decoration: underline;\">4. MAJOR FOREX NEWS THIS WEEK THAT INTERESTS ME:</span></b>\r\n\r\nSUNDAY: N/A\r\n\r\nMONDAY: USD – ISM Non- Manufacturing PMi.\r\nMONDAY: AUD – Trade Balance.\r\n\r\nTUESDAY: CAD – Trade Balance\r\nTUESDAY: USD – Trade Balance\r\nTUESDAY: CNY – CPi, GDP and Trade Balance.\r\n\r\nWEDNESDAY: USD – ADP Non- Farm Employment change and FOMC minutes.\r\nWEDNESDAY: AUD – Retail Sales.\r\n\r\nTHURSDAY: GBP – Interest Rates\r\nTHURSDAY: EUR – Interest Rates and ECB Press Conference.\r\n\r\nFRIDAY: CAD – Employment rates/changes\r\nFRIDAY: USD – Non-Farm Employment Change and Unemployment Rates.\r\n\r\n&nbsp;\r\n\r\n<b><span style=\"text-decoration: underline;\">5. THE PREMIUM SERVICE:</span></b>\r\n<p align=\"center\"><b><span style=\"text-decoration: underline;\">THE WEEKLY FX DRIVE-THRU</span></b><b>\r\n<span style=\"text-decoration: underline;\">PREMIUM SERVICE  2014 </span></b>\r\n\r\nI am still working with my software developer to have this addition to the WEEKLY FX DRIVE-THRU ready within the next two weeks. My intention is to launch the PREMIUM SERVICE subscription service as soon as the markets revert back to normal liquidity.\r\n\r\nWe have noticed however that a number people have tried to register already., For anyone who has tried to register their details were deleted by the system under beta testing and even if you believe that you have an existing login or username that is not the case. As soon as I write announcing that the PREMIUM SERVICE is ready, sorry, but you will have to register again.\r\n\r\nFor those new readers below I detail the salient points regarding the premium service: -\r\n\r\nAs soon as the PREMIUM SERVICE is launched THE WEEKLY FX DRIVE-THRU in its current format will change. It will remain a weekly blog post although it will be more concise in length.\r\n\r\nMy “RADAR and FLASH TRADES” will now only be available via the Premium Service. In addition, “TRADE IDEAS &amp; SET UPS” that are tweeted will now only be available to Premium Service subscribers by email and in addition they can be viewed inside the secure section of my website.\r\n\r\nBelow as examples of the RADAR and FLASH TRADES excel spreadsheets I show the monthly statements for December 2013. (These were real trades that were tweeted or posted in this blog).\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2013/12/RADAR-TRADES-21122013.png\"><img class=\"aligncenter size-full wp-image-2379\" alt=\"RADAR TRADES 21122013\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2013/12/RADAR-TRADES-21122013.png\" width=\"455\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2013/12/FLASH-TRADES-21122013.png\"><img class=\"aligncenter size-full wp-image-2378\" alt=\"FLASH TRADES 21122013\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2013/12/FLASH-TRADES-21122013.png\" width=\"411\" height=\"437\" /></a>\r\n\r\nIn 2013, feedback from subscribers to the “Drive-Thru”, or from readers of the blog via Google+, LinkedIn or Twitter have been raising many questions about Forex Trading in general, such as: -\r\n\r\n</p><p align=\"center\"><b> </b></p>\r\n<p align=\"center\"><b>Placing Stops</b></p>\r\n<p align=\"center\"><b>Strategies on entry and exit</b></p>\r\n<p align=\"center\"><b>Working with a Trade Plan</b></p>\r\n<p align=\"center\"><b>What is a Trade Plan?</b></p>\r\n<p align=\"center\"><b>Risk Assessment</b></p>\r\n<p align=\"center\"><b>When to fade trades</b></p>\r\n<p align=\"center\"><b>How to cost average effectively</b></p>\r\n<p align=\"center\"><b>How to use Trade Zones effectively - Buy Zones and Sell zones</b></p>\r\n<p align=\"center\"><b>Working with Fibonacci levels</b></p>\r\n<p align=\"center\"><b>How to find a good broker to partner with</b></p>\r\n<p align=\"center\"><b>Chart analysis</b></p>\r\nInside the secure area of my website, you will be able to reference information on all of the above topics plus much more. The library of information will grow during 2014 and my goal is to provide a comprehensive support area to traders of all experience levels. The PREMIUM SERVICE in its secure area will be a learning and reference area to subscribers.\r\n\r\nI am also looking to offer training and information based “Webinars” to Premium Service subscription members, if I have sufficient participants. These will be fee based to cover costs.\r\n\r\nWhilst upon first look, it may appear that the Premium Service is directed solely at new traders, or those with intermediate skill levels, please note this is not my intention. Trading can be lonely, and sometimes it is good to feel that you are part of a team. With this in mind, I am thinking that a “Chat Room” style area would be of benefit to all traders to share ideas and trade set-ups. Plus, whether a new trader or experienced trader it is always good to have a library of information available close at hand.\r\n\r\nWhat are the costs of membership?\r\n\r\nThere will be 40 weekly blogs / issues per year (I will not write in the Summer and over Christmas periods), with an unlimited amount of follow ups during the week to review and act upon “Radar Trades” and issues emanating from previous blogs. In addition trade ideas for trades already in play would also be part of the service, as I will be trading the posted set-ups.\r\n\r\nI do not want to become a finance administrator on a daily basis so I want to keep the subscription options as few as possible.\r\n<p align=\"center\"><b>ANNUAL (40 WEEK) SUBSCRIPTION: $750.00 (this equates to $18.75 per week) </b></p>\r\n<p align=\"center\"><b>20 WEEKS SUBSCRIPTION: $450.00 (this equates to $22.50 per week) </b></p>\r\n<p align=\"center\"><b>10 WEEKS SUBSCRIPTION: $250.00 (this equates to $25.00 per week) </b></p>\r\n<p align=\"center\"><b>(ALL FEES ARE IN USD)</b></p>\r\nShould you have any questions regarding the PREMIUM SERVICE please email me at premiumservice@thepipaccumulator.com\r\n\r\n&nbsp;\r\n\r\n<b><span style=\"text-decoration: underline;\">9. FINAL THOUGHTS:</span></b>\r\n\r\nIt is a busy week for my first week back in the saddle.\r\n\r\nWe should see liquidity come back to the market this week and currency moves should be more sustainable.\r\n\r\nI will be posting RADAR and FLASH trade set ups via twitter as the week progresses and they will be performance measured via spreadsheets in next week blog.\r\n\r\nUntil we reach full liquidity if you are going to trade keep the positions smaller.\r\n\r\nGood luck,\r\n\r\nScott Pickering\r\nThe Pip Accumulator\r\nSaturday January 4<sup>th</sup> 2014\r\n\r\nEMAIL / FOLLOW ME AT:\r\n<a href=\"mailto:drivethru@thepipaccumulator.com\">drivethru@thepipaccumulator.com\r\n</a>Twitter: @pipaccumulator\r\n<span style=\"line-height: 1.5em;\">Google+/scottpickering\r\n</span><span style=\"line-height: 1.5em;\">StockTwits; thepipaccumulator</span>\r\n\r\n&nbsp;\r\n\r\n&nbsp;','MY TRADE IDEAS AND THOUGHTS LOOKING FORWARD AT 2014','','inherit','open','closed','','2456-revision-v1','','','2014-01-20 15:30:18','2014-01-20 20:30:18','',2456,'https://weeklyfxdrivethru.com/2456-revision-v1/',0,'revision','',0),(3103,16,'2014-01-20 15:35:59','2014-01-20 20:35:59','04.01.2014\r\n\r\n<b><span style=\"text-decoration: underline;\">1. INTRODUCTION:</span></b>\r\n\r\nHappy New Year one and all, I trust that this blog finds everyone in good health and raring to get trading started in 2014, that is if like me you are still a 2014 trading virgin\r\n\r\nThis blog will be shorter than usual and will be a “Scott look at 2014” with my initial trading thoughts for this year. In addition, I will also provide you with an update on the launch of the PREMIUM SERVICE.\r\n\r\nThe normal blog will return next weekend and will continue until the PREMIUM SERVICE is launched.\r\n\r\n<b><span style=\"text-decoration: underline;\">2.  MY VIEWS ON THE USD MAJORS THIS COMING YEAR 2014:</span></b>\r\n\r\nOver the holidays I have had plenty of time to sit back and strategize on my approach to 2014 and how it will vary from last year.\r\n\r\nThe major change in my recent trading style and strategy was brought about by the way the markets pushed and pulled traders around based on zero long term momentum, trend or direction. Inter-market correlations matter and count. There were huge disconnects in the second half of 2013.\r\n\r\nI see this disconnect continuing, hence my forward thinking into 2014 shows disconnects between the majors. My thoughts are that there will be more extended periods when currencies will act independently this year. Correlations will come and go.\r\n<p align=\"center\"><strong>Typical examples of “the disconnect” are the following correlations: -</strong></p>\r\n<p align=\"center\"><strong> USD / Gold</strong>\r\n<strong> AUD / NZD</strong>\r\n<strong> Commodity currencies / equities</strong>\r\n<strong> EUR / GBP</strong>\r\n<strong> CAD / USD</strong>\r\n<strong> JPY / S&amp;P</strong>\r\n<strong> AUD &amp; NZD / Copper</strong>\r\n<strong> EUR / CHF</strong>\r\n<strong> EUR/GBP<span style=\"line-height: 1.5em;\">/ GBP/CHF</span></strong>\r\n<strong> JPY &amp; CHF / Gold</strong></p>\r\nI know that it may be corny and you have probably read lots of 2014 predictions already, but I still want to do one, which, I will refer back to each quarter during 2014. I have not traded this year so far, I have just been looking at charts reading and listening to various pieces in the media and on the web.\r\n\r\nI will for the purpose of review during this year go through each USD major one by one with thoughts associated to that currency pair.\r\n\r\n<b><span style=\"text-decoration: underline;\">EUR/USD:</span></b>\r\n\r\nMy initial thoughts are that whilst I am a fundamental trader at heart and I believe this to be a good thing, it did impair my trading a little in 2013. Without doubt along with many traders fundamentally the belief was always that the EUR/USD was over-priced and that a correction lower was always on the cards towards to 1.2500 area. Even with a surprise rate cut late in 2013 we never really broke lower than 1.3000 last year.\r\n\r\nThe Eurozone is still starved of economic growth and there are many, many economic and social problems spread throughout the Eurozone.\r\n\r\nMy short list of issues facing the Eurozone is highlighted below: -\r\n<p style=\"text-align: center;\"> <i>AUSTERITY\r\n</i><i>GDP\r\n</i><i style=\"line-height: 1.5em;\">UNEMPLOYMENT\r\n</i><i style=\"line-height: 1.5em;\">HOUSING\r\n</i><i style=\"line-height: 1.5em;\">LOW CPi\r\n</i><i style=\"line-height: 1.5em;\">DEFLATION\r\n</i><i style=\"line-height: 1.5em;\">BAD DEBT\r\n</i><i style=\"line-height: 1.5em;\">SOCIAL UNREST\r\n</i><i style=\"line-height: 1.5em;\">SOCIAL SERVICES\r\n</i><i style=\"line-height: 1.5em;\">HEALTH CUTBACKS</i></p>\r\nThe monthly EUR/USD chart below shows that despite the Eurozone negative talk (and I have done my fair share) the pair is extremely resilient. There are more green monthly candlestick bars than red ones; in fact, it’s a 66/33 ratio in 2013 green over red. This hardly shows a currency pair under threat for most of the time. The chart also shows that a longer term bearish down sloping channel is still in play. As you can see we are most definitely at the higher reaches of the channel almost breaking it over the recent holidays.\r\n\r\n&nbsp;\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/01/EURUSD-M-04012014.png\"><img src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/01/EURUSD-M-04012014.png\" alt=\"EURUSD M 04012014\" width=\"1076\" height=\"543\" class=\"alignnone size-full wp-image-3094\" /></a>\r\n\r\n\r\nWith the above in mind, I am expecting that equity markets will pullback and aid USD strength, plus do not forget that “Tapering” has started and this is a major shift in FED policy. These two events will drive the EUR/USD lower,\r\n\r\nAdditionally, with the ECB under Draghi’s leadership and Merkel the puppet mistress at the controls they have yet to properly attack under funded banks, deflation and negative growth in the periphery. So far ECB hot air has kept the markets reasonably happy, but only to a point. Sooner or later a full-on bond-buying scheme like the FED’s QE programme will be required to add liquidity to the Eurozone economies, which should provide the necessary fuel to initiate growth. The banks need to lend to underpin the future prospects of the Eurozone.  I am not sure the LTRO approach will actually give the gusto required. To me, a further LTRO is yet another can being kicked down the road.\r\n\r\nDuring 2014 I think that Brussels will run out of cans to kick down the road and the Belgium hospitality industry should be a great investment. The reason for this investment tip is clear, as we will have umpteen Cheese and Wine ECB and Eurozone crisis meetings to finally fix things once and for all. Improvements in the U.S, will highlight how bad the Eurozone economy is in general in comparison and this will fuel the fire to demand action.\r\n\r\n<b><span style=\"text-decoration: underline;\">My EUR/USD prediction: -</span></b>\r\nWith the above happening, I see the EUR/USD trading below 1.3000 by the year-end; initially I see a test of the 1.2500/1.2600 lows.\r\n\r\n&nbsp;\r\n\r\n<b><span style=\"text-decoration: underline;\">GBP/USD:</span></b>\r\n\r\nWithout doubt, the recovery in the UK was for me the joker in the pack towards the end of 2013. Carney (Bank of England, Governor) is doing his best to keep a lid on matters but the UK unlike the Eurozone and the U.S. is NOT suffering from a deflationary set of economic statistics. Whilst some economic data is patchy there is no denial that the UK is on a better economic footing than the Eurozone. It highlights that the one size fits all approach of the Eurozone does NOT work.\r\n\r\nThe chart below shows the 2008 high of the GBP/USD just over an exchange rate of 2.000, just before the BOE Inflation hearing from the then governor Merv “The Swerve” King. It dropped on his statement for 6 straight months to 1.3520.\r\n\r\nWe are now in a channel from 1.5000 to 1.6900.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/01/GBPUSD-M-04012014.png\"><img src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/01/GBPUSD-M-04012014.png\" alt=\"GBPUSD M 04012014\" width=\"1076\" height=\"543\" class=\"alignnone size-full wp-image-3097\" /></a>\r\n\r\n\r\n<b><span style=\"text-decoration: underline;\">My GBP/USD prediction: -</span></b>\r\nCross–rates I am hoping will be my big trades in 2014 (see much more later). I feel that if the EUR/USD falls, the EUR/GBP will go with it and the GBP/USD which used to drop in sympathy with the EUR, will this year instead rise and I am predicting a re-test of the 61.8% retracement of the big monthly move on the chart above of 1.8250 will take place. The EUR/GBP is crucial to this predicted move. Should this move happen some great unwinds of cross-rates will happen and 2014 could be an excellent trading year with momentum and direction.\r\n\r\n&nbsp;\r\n\r\n<b><span style=\"text-decoration: underline;\">AUD/USD:</span></b>\r\n\r\nThe worst kept secret in the Central Bank Governors world is out...RBA Governor Stevens wants the AUD currency weakened and he sees a AUD/USD exchange rate of about 0.8500 as a rate for the markets to aim for. Without doubt the equity markets will have the ultimate say here but tapering in the U.S. has started and equities should come under pressure, which, should force this pair lower.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/01/AUDUSD-M-04012014.png\"><img src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/01/AUDUSD-M-04012014.png\" alt=\"AUDUSD M 04012014\" width=\"1076\" height=\"543\" class=\"alignnone size-full wp-image-3098\" /></a>\r\n\r\n<b><span style=\"text-decoration: underline;\">My AUD/USD prediction: -</span></b>\r\n\r\nI see the 50% retracement on the monthly chart above as the initial target and after that 0.8000 as the second objective in 2014 for this pair. This pair will yo-yo a bit given the fact of its relationship to the equity markets but the RBA is determined to weaken the AUD currency. If you learn anything…never argue or trade against a central bank.\r\nIn addition do not forget Gold, Copper and China. All three have huge impacts on this currency pair. Gold is under pressure because as a hedge against inflation, there is zero inflation to worry about so it is overpriced. It tested critical $1180.00 support over the holidays and bounced but it will re-test again. A break lower will take the AUD/USD with it. <span style=\"line-height: 1.5em;\">These factors make my 0.8000 target in 2014 look pretty tame.</span>\r\n\r\n&nbsp;\r\n\r\n<b><span style=\"text-decoration: underline;\">NZD/USD:</span></b>\r\n\r\nContrary to the AUD, the RBNZ Governor Wheeler “the dealer” wants to raise rates and send the NZD higher in 2014 to control bubbles in the New Zealand economy. I can feel a cross-rate sermon coming on again. The AUD/NZD will be a focus for me in 2014, given that the RBA and RBNZ are on different paths.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/01/NZDUSD-M-04012014.png\"><img src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/01/NZDUSD-M-04012014.png\" alt=\"NZDUSD M 04012014\" width=\"1076\" height=\"543\" class=\"alignnone size-full wp-image-3099\" /></a>\r\n\r\nLooking at the chart above and taking into considering equities, Gold, Copper and China. Common sense tells me that this pair should follow the AUD/USD lower, but I am 100% convinced. The cross-rate effect on the AUD/NZD could keep this pair well supported and inflated, add to this the RBNZ desire to raise rates and this pair could stay in the lofty heights of 0.7800 to 0.8800 for the year.\r\n\r\n<b><span style=\"text-decoration: underline;\">My NZD/USD prediction: -</span></b>\r\n\r\nThis is hard to write as for most of 2013 I have been trying to short this pair almost continually. This year for reasons already stated (RBA determination and the AUD/NZD cross-rate effect) I believe this pair will be the surprise and stay above 0.7800. I see a test of all-time highs being on the cards if the RBA forces the AUD lower and directly intervenes. Do not rule that out.\r\n\r\n&nbsp;\r\n\r\n<b><span style=\"text-decoration: underline;\">USD/JPY:</span></b>\r\n\r\nIt is very easy to say 110.00 and maybe 120.00 is the target for this pair in 2014. Given the reputations and testicles on the chopping block, plus the amount of YEN being thrown at the markets an exchange rate of 120.00 seems achievable in the long term. The BOJ has committed considerably more funds than BEN at his best at the FED ever did.  It would therefore be brave nay foolish to stand in front of the USD/JPY freight train whilst the currency pair weakens to places not seen for years. Having written this, I think in true forex style we need to back test a breakout first before heading higher to the dizzy heights where the air is thin!!\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/01/USDJPY-M-04012014.png\"><img src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/01/USDJPY-M-04012014.png\" alt=\"USDJPY M 04012014\" width=\"1076\" height=\"543\" class=\"alignnone size-full wp-image-3100\" /></a>\r\n\r\nThe monthly chart above shows the move from the highs of 124.23-pre financial crisis to the lows of 75.47-post financial crisis.\r\n\r\nA test of the 61.8% retracement seems to be on the cards at 105.59. This will be huge resistance.\r\n\r\n<b><span style=\"text-decoration: underline;\">My USD/JPY prediction: -</span></b>\r\n\r\nBreakouts are nearly almost always re-tested for validity. I believe that the USD/JPY will re-test lower than 100.00, probably 98.00 which was a major psychological number on the way higher and lower with this pair. After a test of 98.00 we head higher (Yen weakness). Equities will play their part taking this pair lower.\r\n\r\n&nbsp;\r\n\r\n<b><span style=\"text-decoration: underline;\">USD/CHF:</span></b>\r\n\r\nBasically, we have been held by 0.8750 for the past two years and we recently re-tested this low to bounce off it. If my Eurozone issues are predicted correctly I see this pair heading higher once again. This pair is one of my long, long, longer term trades for 2014, and I am looking to buy on a dip very soon.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/01/USDCHF-M-04012014.png\"><img src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/01/USDCHF-M-04012014.png\" alt=\"USDCHF M 04012014\" width=\"1076\" height=\"543\" class=\"alignnone size-full wp-image-3101\" /></a>\r\n\r\n<b><span style=\"text-decoration: underline;\">My USD/CHF prediction: -</span></b>\r\n\r\nIf the EUR/USD falls as predicted this pair will test parity in 2014. A break through resistance at 0.9415 will give my prediction the weight it needs to push onwards and upwards.\r\n\r\n&nbsp;\r\n\r\n<b><span style=\"text-decoration: underline;\">USD/CAD:</span></b>\r\n\r\nThis is the most stubborn pain in the ass currency pair in the market, for me to follow anyway. I do however see that this pair should stay above parity in 2014. I think that we move higher as equities fall and then as equities stabilize later in 2014 we will pullback a little.\r\nThe monthly chart below shows that we are in an uptrend off the lows of 0.9640, to me I see this pattern continuing as we re-test higher levels.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/01/USDCAD-M-04012014.png\"><img src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/01/USDCAD-M-04012014.png\" alt=\"USDCAD M 04012014\" width=\"1076\" height=\"543\" class=\"alignnone size-full wp-image-3102\" /></a>\r\n\r\n<b><span style=\"text-decoration: underline;\">My USD/CAD prediction: -</span></b>\r\n\r\nThere may be a re-test of the bullish trend line on the chart above but I do feel overall that we will be re-testing the 50% and maybe even the 61.8% Fibonacci levels of 1.1200 and 1.1665.\r\n\r\n<b style=\"line-height: 1.5em;\"><span style=\"text-decoration: underline;\"> </span></b><b><span style=\"text-decoration: underline;\">3. MY KEY FOCUS IN 2014:</span></b>\r\n\r\nYou would have noticed in the later blogs of 2013 my trading style and emphasis on what to trade took on a new direction.\r\n\r\nThe main reason for this was due to disconnects in the marketplace. Fundamentals count, but so do inter-market relationships/correlations. There were so many disconnects in 2013, I had to adjust my way of thinking and trading. I see this continuing in 2014 as well as this has been reflected already in the way I view the moves in the USD majors. There is a knock-on effect and this is my key focus this year.\r\n\r\nThe lack of momentum and direction in the USD majors, in particular, since the summer last year, required me to focus on a different style of trading. The push and pull moves for no reason, were frankly just annoying me, and, news events or poor news sound-bytes were causing wild swings in the major pairs that were just crazy and on many occasions based on nothing concrete, or remotely resembling factual data.\r\n\r\nThis prompted the introduction of pull-back strategy trades I called FLASH TRADES, and, a more disciplined approach to longer-term trades that I defined as RADAR TRADES.\r\n<p style=\"text-align: center;\"><strong>RADAR TRADES: These are pre-meditated limit order trades. I hope that these will be longer-term trades.</strong></p>\r\n<p style=\"text-align: center;\"><strong>FLASH TRADES: These are more of an intra-day trade. They may develop into “Swing style” trades but will probably be more short term.</strong><strong> </strong></p>\r\nAt the same time, I started to look more and more at cross-rate pairs and exotic crosses. These were largely successful from September 2013. This focus will continue in 2014. I will still trade the majors, but I think more from a FLASH TRADE perspective. My initial focus in 2014 will be to look at the cross-rates. My primary reason for this is that since 2008 these pairs have largely been directionally lower as equities have risen to all time highs. When equities roll over “The unwinding will begin”. With the commodity currencies it has already started and there are 1,000’s of pips still available. We will be unwinding 5 and 6 years of moves.\r\n<p style=\"text-align: center;\">Be prepared for many trades in the following pairs in 2014: -</p>\r\n<p style=\"text-align: center;\"> EUR/AUD\r\nGBP/AUD\r\nEUR/NZD\r\nGBP/NZD\r\nEUR/CAD\r\nGBP/CAD</p>\r\n<p align=\"center\">Plus the\r\nAUD/NZD\r\nEUR/GBP\r\nAUD/CHF\r\n<span style=\"line-height: 1.5em;\">NZD/CHF</span></p>\r\nThe moves can be wild in most of these pairs as they are not well-funded but they can be very directional with risk off or risk on conditions and offer good returns. The key is to take smaller positions with wider stops to cope with the volatility. A point to note is that these pairs can be very costly overnight carry trades. To trade these we will have to be clever, at the same time I will be assessing risk prior to entries to ensure minimum risk maximum profitability ratios.\r\n\r\nTrading these pairs is all about a trading discipline\r\n\r\nLook my trading style - it’s simple: -\r\n<p align=\"center\"><strong><i>FUNDAMENTALS MATTER TO ME</i></strong></p>\r\n<p align=\"center\"><strong><i>I TRADE TO MAKE MONEY…NOT TO PICK TOPS OR BOTTOMS</i></strong></p>\r\n<p align=\"center\"><strong><i>I TRADE LOW RISK</i></strong></p>\r\n<p align=\"center\"><strong><i>I DO NOT CHASE MARKETS</i></strong></p>\r\n<p align=\"center\"><strong><i>I LIKE THE TRADES TO COME TO ME</i></strong></p>\r\n<p align=\"center\"><strong><i>I AM NOT A GREEDY TRADER</i></strong></p>\r\n<p align=\"center\"><strong><i>I LIKE TO TRADE MOMENTUMS IN THE DIRECTION OF TRENDS</i></strong></p>\r\n<p align=\"center\"><strong><i>I USE FIBONACCI LEVELS TO ENTER &amp; EXIT ON MANY TRADES</i></strong></p>\r\n<p align=\"center\"><strong><i>PLUS...</i></strong></p>\r\n<p align=\"center\"><strong><i>MY TRADING STYLE IS MIXED EVEN WITH THE ABOVE KEY BASICS</i></strong></p>\r\n<p align=\"center\"><strong><i>I USE THE PULLBACK STRATEGY TO ENTER AND I LIKE SWING AND LONGER-TERM TRADES (WHEN POSSIBLE)</i></strong></p>\r\n<b><span style=\"text-decoration: underline;\">4. MAJOR FOREX NEWS THIS WEEK THAT INTERESTS ME:</span></b>\r\n\r\nSUNDAY: N/A\r\n\r\nMONDAY: USD – ISM Non- Manufacturing PMi.\r\nMONDAY: AUD – Trade Balance.\r\n\r\nTUESDAY: CAD – Trade Balance\r\nTUESDAY: USD – Trade Balance\r\nTUESDAY: CNY – CPi, GDP and Trade Balance.\r\n\r\nWEDNESDAY: USD – ADP Non- Farm Employment change and FOMC minutes.\r\nWEDNESDAY: AUD – Retail Sales.\r\n\r\nTHURSDAY: GBP – Interest Rates\r\nTHURSDAY: EUR – Interest Rates and ECB Press Conference.\r\n\r\nFRIDAY: CAD – Employment rates/changes\r\nFRIDAY: USD – Non-Farm Employment Change and Unemployment Rates.\r\n\r\n&nbsp;\r\n\r\n<b><span style=\"text-decoration: underline;\">5. THE PREMIUM SERVICE:</span></b>\r\n<p align=\"center\"><b><span style=\"text-decoration: underline;\">THE WEEKLY FX DRIVE-THRU</span></b><b>\r\n<span style=\"text-decoration: underline;\">PREMIUM SERVICE  2014 </span></b>\r\n\r\nI am still working with my software developer to have this addition to the WEEKLY FX DRIVE-THRU ready within the next two weeks. My intention is to launch the PREMIUM SERVICE subscription service as soon as the markets revert back to normal liquidity.\r\n\r\nWe have noticed however that a number people have tried to register already., For anyone who has tried to register their details were deleted by the system under beta testing and even if you believe that you have an existing login or username that is not the case. As soon as I write announcing that the PREMIUM SERVICE is ready, sorry, but you will have to register again.\r\n\r\nFor those new readers below I detail the salient points regarding the premium service: -\r\n\r\nAs soon as the PREMIUM SERVICE is launched THE WEEKLY FX DRIVE-THRU in its current format will change. It will remain a weekly blog post although it will be more concise in length.\r\n\r\nMy “RADAR and FLASH TRADES” will now only be available via the Premium Service. In addition, “TRADE IDEAS &amp; SET UPS” that are tweeted will now only be available to Premium Service subscribers by email and in addition they can be viewed inside the secure section of my website.\r\n\r\nBelow as examples of the RADAR and FLASH TRADES excel spreadsheets I show the monthly statements for December 2013. (These were real trades that were tweeted or posted in this blog).\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2013/12/RADAR-TRADES-21122013.png\"><img class=\"aligncenter size-full wp-image-2379\" alt=\"RADAR TRADES 21122013\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2013/12/RADAR-TRADES-21122013.png\" width=\"455\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2013/12/FLASH-TRADES-21122013.png\"><img class=\"aligncenter size-full wp-image-2378\" alt=\"FLASH TRADES 21122013\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2013/12/FLASH-TRADES-21122013.png\" width=\"411\" height=\"437\" /></a>\r\n\r\nIn 2013, feedback from subscribers to the “Drive-Thru”, or from readers of the blog via Google+, LinkedIn or Twitter have been raising many questions about Forex Trading in general, such as: -\r\n\r\n</p><p align=\"center\"><b> </b></p>\r\n<p align=\"center\"><b>Placing Stops</b></p>\r\n<p align=\"center\"><b>Strategies on entry and exit</b></p>\r\n<p align=\"center\"><b>Working with a Trade Plan</b></p>\r\n<p align=\"center\"><b>What is a Trade Plan?</b></p>\r\n<p align=\"center\"><b>Risk Assessment</b></p>\r\n<p align=\"center\"><b>When to fade trades</b></p>\r\n<p align=\"center\"><b>How to cost average effectively</b></p>\r\n<p align=\"center\"><b>How to use Trade Zones effectively - Buy Zones and Sell zones</b></p>\r\n<p align=\"center\"><b>Working with Fibonacci levels</b></p>\r\n<p align=\"center\"><b>How to find a good broker to partner with</b></p>\r\n<p align=\"center\"><b>Chart analysis</b></p>\r\nInside the secure area of my website, you will be able to reference information on all of the above topics plus much more. The library of information will grow during 2014 and my goal is to provide a comprehensive support area to traders of all experience levels. The PREMIUM SERVICE in its secure area will be a learning and reference area to subscribers.\r\n\r\nI am also looking to offer training and information based “Webinars” to Premium Service subscription members, if I have sufficient participants. These will be fee based to cover costs.\r\n\r\nWhilst upon first look, it may appear that the Premium Service is directed solely at new traders, or those with intermediate skill levels, please note this is not my intention. Trading can be lonely, and sometimes it is good to feel that you are part of a team. With this in mind, I am thinking that a “Chat Room” style area would be of benefit to all traders to share ideas and trade set-ups. Plus, whether a new trader or experienced trader it is always good to have a library of information available close at hand.\r\n\r\nWhat are the costs of membership?\r\n\r\nThere will be 40 weekly blogs / issues per year (I will not write in the Summer and over Christmas periods), with an unlimited amount of follow ups during the week to review and act upon “Radar Trades” and issues emanating from previous blogs. In addition trade ideas for trades already in play would also be part of the service, as I will be trading the posted set-ups.\r\n\r\nI do not want to become a finance administrator on a daily basis so I want to keep the subscription options as few as possible.\r\n<p align=\"center\"><b>ANNUAL (40 WEEK) SUBSCRIPTION: $750.00 (this equates to $18.75 per week) </b></p>\r\n<p align=\"center\"><b>20 WEEKS SUBSCRIPTION: $450.00 (this equates to $22.50 per week) </b></p>\r\n<p align=\"center\"><b>10 WEEKS SUBSCRIPTION: $250.00 (this equates to $25.00 per week) </b></p>\r\n<p align=\"center\"><b>(ALL FEES ARE IN USD)</b></p>\r\nShould you have any questions regarding the PREMIUM SERVICE please email me at premiumservice@thepipaccumulator.com\r\n\r\n&nbsp;\r\n\r\n<b><span style=\"text-decoration: underline;\">9. FINAL THOUGHTS:</span></b>\r\n\r\nIt is a busy week for my first week back in the saddle.\r\n\r\nWe should see liquidity come back to the market this week and currency moves should be more sustainable.\r\n\r\nI will be posting RADAR and FLASH trade set ups via twitter as the week progresses and they will be performance measured via spreadsheets in next week blog.\r\n\r\nUntil we reach full liquidity if you are going to trade keep the positions smaller.\r\n\r\nGood luck,\r\n\r\nScott Pickering\r\nThe Pip Accumulator\r\nSaturday January 4<sup>th</sup> 2014\r\n\r\nEMAIL / FOLLOW ME AT:\r\n<a href=\"mailto:drivethru@thepipaccumulator.com\">drivethru@thepipaccumulator.com\r\n</a>Twitter: @pipaccumulator\r\n<span style=\"line-height: 1.5em;\">Google+/scottpickering\r\n</span><span style=\"line-height: 1.5em;\">StockTwits; thepipaccumulator</span>\r\n\r\n&nbsp;\r\n\r\n&nbsp;','MY TRADE IDEAS AND THOUGHTS LOOKING FORWARD AT 2014','','inherit','open','closed','','2456-revision-v1','','','2014-01-20 15:35:59','2014-01-20 20:35:59','',2456,'https://weeklyfxdrivethru.com/2456-revision-v1/',0,'revision','',0),(3105,1,'2014-01-22 10:40:14','2014-01-22 15:40:14','<section class=\"pdf-links\">\r\n<div class=\"one-third first\">Coming soon</div>\r\n<div class=\"two-thirds\"></div>\r\n</section>','Trading Essentials','','inherit','open','closed','','2538-revision-v1','','','2014-01-22 10:40:14','2014-01-22 15:40:14','',2538,'https://weeklyfxdrivethru.com/2538-revision-v1/',0,'revision','',0),(3106,1,'2014-01-22 10:44:03','2014-01-22 15:44:03','<section class=\"one-sixth first\">\r\n<h4>Fundamental 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/2017/02/FUN-20022017.png\"><img class=\"aligncenter size-large wp-image-9133\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/02/FUN-20022017-793x1024.png\" alt=\"\" width=\"793\" 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&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&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/FUN-JANYTD-2017.png\"><img class=\"aligncenter size-full wp-image-9048\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/FUN-JANYTD-2017.png\" alt=\"\" width=\"840\" height=\"924\" /></a></h2>\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/08/FUNDAMENTAL-YTD-JULY31.png\">\r\n</a>\r\n<h2>PREVIOUS YEARS\r\n<img class=\"aligncenter size-full wp-image-8811\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/12/FUN-2016-COMPLETE.png\" alt=\"\" width=\"874\" height=\"942\" /></h2>\r\n<h2><a href=\"https://weeklyfxdrivethru.com/fundamental-trades/fun-2015-comp/\" rel=\"attachment wp-att-6989\"><img class=\"aligncenter wp-image-6989\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/12/FUN-2015-COMP.png\" alt=\"FUN 2015 COMP\" width=\"580\" height=\"597\" /></a></h2>\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/FUNDAMENTAL-YEAR-TO-DATE-2014.png\"><img class=\"aligncenter size-full wp-image-8860\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/FUNDAMENTAL-YEAR-TO-DATE-2014.png\" alt=\"\" width=\"710\" height=\"754\" /></a>\r\n\r\n&nbsp;\r\n\r\n</div>\r\n</section>','FUNDAMENTAL TRADES','','publish','open','closed','','fundamental-trades','','','2017-02-20 06:39:33','2017-02-20 11:39:33','',0,'https://weeklyfxdrivethru.com/?page_id=3106',0,'page','',0),(9104,1,'2017-02-11 16:18:50','2017-02-11 21:18:50','<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\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/02/RADAR-12022017.png\"><img class=\"aligncenter size-large wp-image-9082\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/02/RADAR-12022017-755x1024.png\" alt=\"\" width=\"755\" 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-JANYTD-2017.png\"><img class=\"aligncenter size-full wp-image-9044\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/RADAR-JANYTD-2017.png\" alt=\"\" width=\"832\" height=\"932\" /></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','','','2017-02-11 16:18:50','2017-02-11 21:18:50','',2524,'http://weeklyfxdrivethru.com/2524-revision-v1/',0,'revision','',0),(3118,1,'2016-10-31 13:23:17','2016-10-31 18:23:17','<section class=\"one-sixth first\">\n<h4>Fundamental Trades 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/2016/10/FUN1-OCT16.png\"><img class=\"aligncenter size-large wp-image-8558\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/10/FUN1-OCT16-758x1024.png\" alt=\"fun1-oct16\" width=\"758\" height=\"1024\" /></a><a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/10/FUN2-OCT16.png\"><img class=\"aligncenter size-large wp-image-8559\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/10/FUN2-OCT16-760x1024.png\" alt=\"fun2-oct16\" width=\"760\" height=\"1024\" /></a><a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/10/FUN3-OCT16.png\"><img class=\"aligncenter size-large wp-image-8560\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/10/FUN3-OCT16-783x1024.png\" alt=\"fun3-oct16\" width=\"783\" height=\"1024\" /></a></h2>\n&nbsp;\n\n&nbsp;\n\n&nbsp;\n\n&nbsp;\n\n&nbsp;\n\n&nbsp;\n\n&nbsp;\n\n&nbsp;\n\n&nbsp;\n\n&nbsp;\n\n&nbsp;\n\n&nbsp;\n\n&nbsp;\n\n&nbsp;\n\n&nbsp;\n\n&nbsp;\n\n&nbsp;\n\n</div>\n<div class=\"one-half\">\n<h2>Year to date</h2>\n&nbsp;\n\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/08/FUNDAMENTAL-YTD-JULY31.png\">\n</a>\n<h2>PREVIOUS YEARS\n<a href=\"https://weeklyfxdrivethru.com/fundamental-trades/fun-2015-comp/\" rel=\"attachment wp-att-6989\"><img class=\"aligncenter wp-image-6989\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/12/FUN-2015-COMP.png\" alt=\"FUN 2015 COMP\" width=\"580\" height=\"597\" /></a></h2>\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/12/FUNDAMENTAL-31122014-YTD-.png\"><img class=\"aligncenter wp-image-4958\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/12/FUNDAMENTAL-31122014-YTD-.png\" alt=\"FUNDAMENTAL 31122014 YTD\" width=\"566\" height=\"606\" /></a>\n\n</div>\n</section>','FUNDAMENTAL  (Including \"BREXIT OPPORTUNITY\") TRADES','','inherit','open','closed','','3106-autosave-v1','','','2016-10-31 13:23:17','2016-10-31 18:23:17','',3106,'https://weeklyfxdrivethru.com/3106-autosave-v1/',0,'revision','',0),(3198,1,'2014-02-08 11:02:36','2014-02-08 16:02:36','WEEKLY FX DRIVE-THRU\r\n08.02.2014\r\n\r\n<b><span style=\"text-decoration: underline;\">1. INTRODUCTION:</span></b>\r\n\r\nWell, that was a very difficult week to understand at times.\r\n\r\nThe three major news events in the week that interested me had me a little confused and perplexed:\r\n\r\n<span style=\"text-decoration: underline;\">RBA Interest Rate Announcement and Statement:</span>\r\n\r\nInterest rates were left unchanged, this was strongly believed to be what would happen so there were no surprises but I found the policy statement a little confusing.\r\nFor the past few months RBA Governor Stevens had been talking down AUD strength and even went so far as to say that an exchange rate level of about 0.8500 would be a reasonable level as far as the Central Bank was concerned.\r\nNow we witness an about turn, we are all bullish again, and things were maybe not so bad as we had been saying for the past few months. The comment in the press release regarding currency guidance has now been removed.\r\nThe result on this RBA “Hallelujah moment” (positive view) was that the AUD/USD rallied from near critical support levels of 0.8660 back towards 0.8900.\r\nThis move offers up the potential for some great entries short again in the near future if the equities markets sell off.\r\nThe downside of this change in RBA sentiment from a personal viewpoint were that my FUNDAMENTAL AUD and NZD (in sympathy) cross-rate trades, were whacked across the board, and I decided to exit with losses.\r\n\r\n<span style=\"text-decoration: underline;\">ECB Interest Rate and Press Conference:</span>\r\n\r\nOnce again I found the market reaction to Draghi’s comments a little strange to say the least. I am commenting later in the blog about this particular news event.\r\n\r\n<span style=\"text-decoration: underline;\">U.S. Non-Farm Payrolls:</span>\r\n\r\nAnother big miss, that’s two months in a row. As usual with NFP there is an instant ‘Knee-jerk” reaction probably in line with your thinking……then it turns and runs off in the opposite direction. It did exactly this once again, futures took a poor number on the chin and then they rallied back hard to end the day 23.59 points (1.33%) positive.\r\nIf you get suckered into move it can be very costly. I tweeted several times across both ‘Twitter Accounts” not to get suckered. I hope that you didn’t.\r\nSo the big question is of course, is the U.S. economy as strong as we are being told and is the FED on its tapering course no matter what because the cost of an expanding balance sheet through QE is having minimal effect and we are in economic terms seeing a decreasing returns to scale. By that I mean, what has QE (Quantitative Easing) actually done apart from give the greed of Wall Street support. What has it done for unemployment and housing?\r\n\r\nThe ramifications of two jobs misses will be debated for the next few weeks…watch this space.\r\n\r\n&nbsp;\r\n\r\n<b><span style=\"text-decoration: underline;\">2. THE VIEW FROM MY TRADING DESK:</span></b>\r\n<p align=\"center\"><b> </b></p>\r\n<p align=\"center\"><b>DESPITE THE FACT DRAGHI DID NOTHING NEW TO HELP\r\nTHE EUROZONE PERIPHERY OR TACKLE DEFLATION THE EURO RALLIED!</b></p>\r\nAnother classic ECB press conference; I am now of the opinion, and maybe I am the last person to acknowledge this, but it’s not about what Draghi says, it’s more about what he doesn’t say.\r\n\r\nHoly mother of God, the Eurozone is suffering from DEFLATION. Eminent European economists are talking about it quite openly now. Not only does Draghi ignore DEFLATION, he’s sh** scarred to even utter the word, he uses DIS-INFLATION instead. Does he think we are nuts? It is what it is!\r\n\r\nLast Thursday just prior to Draghi pulling up his chair to the table the EUR/USD was trading sub 1.3500. By the time the press conference was completed it rallied from sub 1.3500, through 1.3500 and 1.3600 towards 1.3620…wowie!!\r\n\r\nIs everything in the Eurozone just fantastic?\r\n\r\nTo be fair, some data has improved and Draghi acknowledged the positive encouraging signs in the areas of recovery and the modest pickup in consumer demand, rise in confidence and stable savings rates across the Eurozone.\r\n\r\nAs far as was concerned, or did I miss this news? Isn’t the Eurozone in a bias to ease mode? In the press conference Draghi never mentioned ‘Emerging markets” concerns, worries about inflation, basic monetary conditions or the general pathetic Eurozone economic outlook. Having examined his comments last month and compared them to this latest presentation they were pretty much the same. All I can think is that the EUR bears just looked on as Draghi ignored worries about Eurozone growth and inflation; hence the rally.\r\n\r\nI think Draghi’s very modest referral to a more positive outlook just took the EUR/USD through 1.3600.\r\n\r\nDraghi still talked about the future concerns in the Eurozone being inflation or unwarranted market tightening as being triggers for further additional monetary actions from the ECB. The bottom line I suppose was he made it clear that the ECB was in no rush to increase any stimulus and he is no closer to easing, these things alone were probably enough to send the EUR higher.\r\n\r\nThe elephant in the room at the press conference is DEFLATION. Every economist is so scared of saying that the Eurozone is in DEFLATION for fears of the Eurozone mirroring what happened in Japan.\r\n\r\nThe best quote I found during the week was from Gilles Moec, chief European economist at Deutsche Bank.\r\n<p align=\"center\"><i>“We don’t know if we’re in deflation now, but we cannot afford to take the risk. The problem is that it’s very hard to know you’re in it, and usually when you do, it’s too late. That’s what Japan found”</i></p>\r\nThe Eurozone consumer prices were 0.7% higher in January (year on year) which matched the record low from October 2013. The ECB target is just below 2%. Why the big fear?\r\n\r\nIf a lack of inflation (DEFLATION or disinflation) takes hold, it leads to a decline in the following, the general level of pricing, it undermines growth, it has an effect on and lowers corporate earnings and it affects asset values, like real estate. If economies are burdened this way as pretty much all of the Eurozone is, DEFLATION can drive a downward spiral, in which borrowers are bankrupted by their inability to repay loans on assets that have dropped in value. It’s a nightmare. This happened in Japan, where land prices fell dramatically since the early 1990’s with catastrophic consequences for banks and companies, never mind ordinary individuals.\r\n\r\nInflation basically erodes the real value of loans, making it easier for borrowers to repay, DEFLATION does the opposite. It places stress on banks. Do you think all the Eurozone banks are ready for DEFLATION? Why is yet another bank stress test on the way?\r\n\r\nWhichever way you want to view this, Greece and Cyprus have been issuing price declines, and Portugal, Spain and Ireland are not that far away from zero. Even the Eurozone power-house Germany is haunted as prices there rose just 1.2% last month (year on year).\r\n\r\nHowever, Draghi did nothing to address DEFLATION concerns. He has said in the past that the ECB would consider all the tools at its disposal to fight DEFLATION. But he has also said that there is nothing to fear. He line is “The risks of DELATION or inflation are limited at this point of time”.\r\n\r\nInteresting…\r\n\r\nHere is my list from last week’s blog on my view on the issues that the ECB still has to fix, a week on and having had a chance to do something nothing has been done: -\r\n\r\n&nbsp;\r\n<p align=\"center\"><i>UNEMPLOYMENT (in particular youth unemployment)</i></p>\r\n<p align=\"center\"><i>DEFLATION</i></p>\r\n<p align=\"center\"><i>BANK LIQUIDITY (yet another stress test is being planned)</i></p>\r\n<p align=\"center\"><i>BANKING STRENGTH (The long awaited banking union)\r\nPERIPHERY GROWTH\r\nRESTORE MARKET CONFIDENCE IN HOUSING MARKETS</i></p>\r\nI still think that a Eurozone crisis is needed to bring matters to a head.\r\n\r\nA crisis will add fuel to USD strength and drive the EUR/USD towards 1.3000 and possibly below.\r\n\r\nDraghi, with Merkel (in Berlin) pulling his strings will procrastinate and say things are in-line with expectations. The backdrop is Germany has the chequebook and does not want the invoices to fix the Eurozone as well. I totally get it.\r\n\r\nAs a trader I want a Eurozone crisis….\r\n\r\n&nbsp;\r\n\r\n<b><span style=\"text-decoration: underline;\">3. LOOKING FORWARD…THE KEY SUPPORT &amp; RESISTANCE LEVELS WITH THE USD MAJORS:</span></b>\r\n\r\n<b>EUR/USD: Closing Price 1.3634.</b>  Despite all the shenanigans during the week we ended only 40 pips lower than last week. We had a major sell off and two bullish events and we still did not break the trading range of 1.3475 to 1.3650, although we are very close to resistance. Early next week we should know if we are are we heading back towards 1.4000 or aiming lower towards 1.3000. This pair holds the key to the currency moves ahead. I really hope that these trading ranges will break soon; it is becoming a little boring. The S&amp;P needs to hold resistance at 1800. At this level I think that there is a good chance that we turn lower once again.\r\n\r\n<b>GBP/USD: Closing Price 1.6410.  </b>I have very similar comments regarding cable as I just wrote about the EUR/USD. We saw about a 60 pip reduction in the past week.  At the start of the day on NFP (Friday) I had in mind that a short at around 1.6400 in cable would be a good entry. We will have to wait into the start of next week to re-assess the position. The next stopping point upwards is 1.6500-1.6520 and support lies at 1.6250. I may well issue a FLASH trade tweet about cable short early next week. Recent economic data from the UK has been rather muted and it looks like a downside move may be on the cards once the bullishness of NFP is out of the way.\r\n\r\n<b>AUD/USD: Closing Price 0.8958</b>.  I think that we are in a bullish trend at the moment with this pair. I am viewing this move as just a better entry price to head lower once again. Equities will have a lot to say about the future moves I think. Should the S&amp;P rollover at 1800 the AUD/USD should follow. Looking at the charts I think that we may see a run to the psychological 0.9000, maybe resistance as high as 0.9200. Big support is at 0.8876 and then below at 0.8750.\r\n\r\n<b>NZD/USD: Closing Price 0.8293</b>.  Probably in sympathy will the AUD/USD this pair has held up very well in the past week. Like the GBP/USD just before NFP, I had in my mind that 0.8300 would be a great area to look to short. Once again early next week there could be a FLASH trade alert on this pair.  In addition and like the AUD/USD, equities will point us in the correct direction with regards to this pair. At the moment, I think we may test levels a little higher towards 0.8400. Support is really good at 0.8185.\r\n\r\n<b>USD/CAD: Closing Price 1.1032.</b>  I think that the CAD currency is quite weak at the moment and should we break out through 1.1125; we should see 1.1200 pretty soon. Support is good at 1.0950.\r\n\r\n<b>USD/CHF: Closing Price 0.8982</b>.  We are bouncing around in a range of 0.9850 to 0.9080. We need this range to break to give us direction. I think that it is pointless looking at this pair to trade at the moment.\r\n\r\n<b>USD/JPY: Closing Price 102.31. </b> With all the movement, we only moved down one pip in the week! We have however consolidated at a lower level and this fact should not be missed. Moving forward the range is basically what it has been all week 101.75 to 102.80.\r\n\r\n&nbsp;\r\n\r\n<b><span style=\"text-decoration: underline;\">4. THE PREMIUM SERVICE:</span></b>\r\n\r\nAs there are always new readers of this blog each week, I thought that I should mention the subscriber based option of the WEEKLY FX DRIVE-THRU that has been in existence now since the beginning of 2014; THE PREMIUM SERVICE.\r\n\r\nIt is an honest blog containing trade set-ups, profitable and losing trades, my ideas and thoughts and it also has for an instant communication to subscribers a dedicated protected TWITTER feed. All trades (profitable and losing) are monitored and recorded within the secure section of the WEEKLY FX DRIVE-THRU website.\r\n<p align=\"center\"><b><span style=\"text-decoration: underline;\">WEEKLY FX DRIVE-THRU:\r\n</span></b>(helping you to trade more consistently) <b></b>\r\n\r\n</p><p align=\"center\"><b><span style=\"text-decoration: underline;\">PREMIUM SERVICE   </span></b>\r\n\r\n</p><p align=\"center\">Are you a part-time forex trader?</p>\r\n<p align=\"center\">Are you a novice trader still coming to terms with the complexities of trading the forex market full-time?</p>\r\n<p align=\"center\">Do you feel a little overwhelmed with terminology, when to enter a trade, when to exit, what is being over-leveraged, what is effective risk / money management and what is a trading plan?</p>\r\n<p align=\"center\">The PREMIUM SERVICE may be an option worthy of serious consideration.</p>\r\n<p align=\"center\">The PREMIUM SERVICE is not a robot.</p>\r\n<p align=\"center\">The PREMIUM SERVICE it is not an automated system.</p>\r\n<p align=\"center\">The PREMIUM SERVICE is not an expensive fleecing series of daily financial updates, pages long that do not give you trading ideas or trade set-ups.</p>\r\n&nbsp;\r\n<p align=\"center\"><b><span style=\"text-decoration: underline;\">What is the PREMIUM SERVICE?</span></b></p>\r\nFirstly, the PREMIUM SERVICE is a subscriber only addition to The WEEKLY FX DRIVE-THRU. The WEEKLY FX DRIVE-THRU is a weekly blog that I started over two years ago. Its aim was to review my thoughts and ideas on the forex market. I then started to add trade set-ups and write about trades that would be on my mind if certain events took place.\r\n\r\nI started to publish my future trade set-ups, which were predominantly profitable and as I approached my 100<sup>th</sup> blog, I decided that it was time to move to the next stage…. the PREMIUM SERVICE.\r\n\r\nThe PREMIUM SERVICE contains trade-set ups of my various styles of trades that I developed into a successful formula for trading the forex market with more profitable than losing trades.\r\n\r\nAs a subscriber to the PREMIUM SERVICE, you will receive all my suggested trades whether they are: - FLASH trades, RADAR trades or FUNDAMENTAL trades via an exclusive protected Twitter feed. I give you my thoughts on entry, exit, trade size and what type of lot to trade.\r\n\r\nI do the risk assessment ahead of the trade. You decide whether you want to take the trade and what position size to take.\r\n\r\nIf you trade part-time: with the RADAR TRADE suggestions you simply load a limit order with your broker and the trade will enter and exit automatically, if you use the suggestions I provide, or you can chose your own exit strategy.\r\n\r\n(Full details and definitions of FLASH, RADAR and FUNDAMENTAL trades are inside the secure members area of the PREMIUM SERVICE)<b> </b>\r\n<p align=\"center\"><b>What are the current trading success rates with the PREMIUM SERVICE?</b></p>\r\nFrom my blogs published in December and January the following is an accurate trade by trade set up that was either “Blogged” or “Tweeted” via my twitter account @pipaccumulator (If you want more details please contact me directly via email - my address is at the foot of this document). I have my own history from the past 6 /7 years but it is displayed as below or in excel spread sheets as seen in my blog posts in the WEEKLY FX DRIVE-THRU <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a> and below.\r\n\r\n<b><span style=\"text-decoration: underline;\">December 2013 and January 2014: -</span></b>\r\n<p align=\"center\"><b><span style=\"text-decoration: underline;\">FLASH TRADES:</span></b></p>\r\n<p style=\"text-align: center;\">TOTAL TRADES: 28\r\nTOTAL PIPS NET PROFIT: 871</p>\r\n<p style=\"text-align: center;\">MICRO LOT TRADERS: 1 x micro lot traded your risk = 28 x $0.10 = $2.80\r\nYour reward was 871 x $0.10 = <b><span style=\"text-decoration: underline;\">$87.10</span></b></p>\r\n<p align=\"center\">MINI LOT TRADERS: 1 x mini lot traded your risk = 28 x $1.00 = $28.00\r\nYour reward was 871 x $1.00 = <b><span style=\"text-decoration: underline;\">$871.00</span></b></p>\r\n<p align=\"center\">STANDARD LOT TRADERS: 1 x standard lot traded your risk = 28 x $10.00\r\nYour reward was 871 x $10.00 = <b><span style=\"text-decoration: underline;\">$8,710.00</span></b></p>\r\n<p align=\"center\"><b><span style=\"text-decoration: underline;\">RADAR TRADES:</span></b></p>\r\n<p style=\"text-align: center;\">TOTAL TRADES: 36\r\nTOTAL PIPS NET PROFIT: 646</p>\r\n<p align=\"center\">MICRO LOT TRADERS: 1 x micro lot traded your risk = 36 x $0.10 = $3.60\r\nYour reward was 646 x $0.10 = <b><span style=\"text-decoration: underline;\">$64.60</span></b></p>\r\n<p align=\"center\">MINI LOT TRADERS: 1 x mini lot traded your risk = 36 x $1.00 = $36.00\r\nYour reward was 646 x $1.00 = <b><span style=\"text-decoration: underline;\">$646.00</span></b></p>\r\n<p align=\"center\">STANDARD LOT TRADERS: 1 x standard lot traded your risk = 36 x $360.00\r\nYour reward was 646 x $10.00 = <b><span style=\"text-decoration: underline;\">$6,460.00</span></b></p>\r\n<p style=\"text-align: center;\"><b><span style=\"text-decoration: underline;\">COMBINED RADAR &amp; FLASH TRADES:</span></b></p>\r\n<p align=\"center\"> TOTAL TRADES: 64\r\nTOTAL PIPS NET PROFIT: 1,517</p>\r\n<p align=\"center\">MICRO LOT TRADERS: 1 x micro lot traded your risk = 64 x $0.10 = $6.40\r\nYour reward was 1,517 x $0.10 = <b><span style=\"text-decoration: underline;\">$151.70</span></b></p>\r\n<p align=\"center\">MINI LOT TRADERS: 1 x mini lot traded your risk = 64 x $1.00 = $64.00\r\nYour reward was 1,517 x $1.00 = <b><span style=\"text-decoration: underline;\">$1,517.00</span></b></p>\r\n<p align=\"center\">STANDARD LOT TRADERS: 1 x standard lot traded your risk = 64 x $640.00\r\nYour reward was 1,517 x $10.00 = <b><span style=\"text-decoration: underline;\">$15,710</span></b></p>\r\nIf you go to <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a> and check back over the past 8/9 posts you can see very clearly the growth week by week to give this total.\r\n\r\nI am NOT saying that this can be expected every month because I am a cautious trader.\r\n\r\nHowever, I do trade currencies to make money.\r\n\r\nWhilst I like the idea of longer-term trading, if the market looks false to me I will cut profitable trades and bank money. I am not looking for the glory of three/four week trades to show I have nerves of steel to make +300 pips or so. If I can make 300 pips from three or four 24/48-hour trades instead, who cares? It’s all about banking profits and minimizing risk.\r\n\r\nI will have a balance of intra-day, swing and long term trades. It is your choice to pick what you want to take and what to risk. I am a low-risk very conservative trader.\r\n<p align=\"center\">FUNDAMENTALS MATTER TO ME</p>\r\n<p align=\"center\">I TRADE TO MAKE MONEY…NOT TO PICK TOPS OR BOTTOMS</p>\r\n<p align=\"center\">I TRADE LOW RISK</p>\r\n<p align=\"center\">I DO NOT CHASE MARKETS</p>\r\n<p align=\"center\">I LIKE THE TRADES TO COME TO ME</p>\r\n<p align=\"center\">I AM NOT A GREEDY TRADER</p>\r\n<p align=\"center\">I LIKE TO TRADE MOMENTUMS IN THE DIRECTION OF TRENDS</p>\r\n<p align=\"center\">I USE FIBONACCI LEVELS TO ENTER &amp; EXIT ON MANY TRADES</p>\r\n<p align=\"center\">PLUS</p>\r\n<p align=\"center\">MY TRADING STYLE IS MIXED EVEN WITH THE ABOVE KEY BASICS</p>\r\n<p align=\"center\">I USE THE PULLBACK STRATEGY TO ENTER AND I LIKE SWING AND LONGER-TERM TRADES (WHEN POSSIBLE)</p>\r\n&nbsp;\r\n\r\nThe members area of the website contains not just the comprehensive trading history / journal of trades but it also contains as much support information as I can gather that is of use to help us all trade profitably. As time moves on, the support pages areas will increase so that it becomes a one-stop point of reference for all styles and types of traders regardless of experience.\r\n\r\nI am hoping to have a chat room so that subscribers and myself can chat live about potential live trades. In addition, if the number of participants is economically viable, I will hold webinars on trading issues. Below is a list of questions so far that will either be addressed by webinar or by a future section within a blog post.\r\n<p align=\"center\"><b>Trade Plans and how to work with them\r\nHow to find a good broker to partner with</b>\r\n<b>What trades for what broker\r\nMicro, Mini or Standard lots\r\nPlacing Stops</b>\r\n<b>Strategies on when to enter and exit trades</b>\r\n<b>Risk Assessment</b>\r\n<b>When to fade trades</b>\r\n<b>How to cost average effectively</b>\r\n<b>How to use Trade Zones effectively - Buy Zones and Sell zones</b>\r\n<b>Working with Fibonacci levels</b>\r\n<b>Basic Chart analysis</b></p>\r\nThe PREMIUM SERVICE will evolve as it moves forward. I have lots of ideas to integrate into this area, but I am also open to ideas from readers / followers and subscribers.\r\n\r\nThis is a very important step for me as well; I want the PREMIUM SERVICE to be different to other services currently available.\r\n\r\nWhilst upon first look, it may appear that the Premium Service is directed solely at new traders, or those with intermediate skill levels. Please note this is not my intention. Trading can be lonely, and sometimes it is good to feel that you are part of a team. With this in mind, I am thinking that a “Chat Room” style area would be of benefit to all traders to share ideas and trade set-ups. Plus, whether you are a new trader or an experienced trader it is always good to have a library of information available close at hand.\r\n\r\nWhat are the costs?\r\n\r\nThere will be 40 weekly blogs / issues per year. I will not write in the summer and over Christmas periods. There will be an unlimited amount of Twitter follow-ups to the exclusive subscribers on a Twitter secure feed during the week to review and act upon “FLASH, RADAR and FUNDAMENTAL trades” and issues emanating from previous blogs.\r\n<p align=\"center\"><b>There are three subscription options: </b></p>\r\n<p align=\"center\"><b>ANNUAL (40 WEEK) SUBSCRIPTION: $750.00 (this equates to $18.75 per week) </b></p>\r\n<p align=\"center\"><b>20 WEEKS SUBSCRIPTION: $450.00 (this equates to $22.50 per week)  </b></p>\r\n<p align=\"center\"><b>10 WEEKS SUBSCRIPTION: $250.00 (this equates to $25.00 per week) </b></p>\r\n<p align=\"center\"><b>(All Fees are quoted in USD\r\nand\r\nPlease note: There are no refunds once a subscription is accepted)</b></p>\r\nIf you like what you have just read. Please click on the “SIGN -UP” link at the top of the welcome page of the WEEKLY FX DRIVE-THRU.\r\n\r\nThe registration is very straightforward to follow all you require is a PayPal account.\r\n\r\nWhen the registration process is complete and, within 24 hours, you will receive an email from me confirming everything and welcoming you onboard so to speak.\r\n\r\nShould you have any queries or encounter problems whilst trying to subscribe please contact me on the following email: -\r\n<p align=\"center\"><b><span style=\"text-decoration: underline;\">premiumservice@weeklyfxdrivethru.com</span></b></p>\r\nI do hope that if you look through the history of my blog posts on the WEEKLY FX DRIVE-THRU you will see that I do have a relevance to the forex market and that joining the PREMIUM SERVICE would add value to your trading.\r\n\r\n<b><span style=\"text-decoration: underline;\"> </span></b>\r\n\r\n<b><span style=\"text-decoration: underline;\">5. MAJOR FOREX NEWS THIS WEEK THAT INTERESTS ME:</span></b>\r\n\r\nSUNDAY: N/A\r\n\r\nMONDAY: N/A.\r\n\r\nTUESDAY: USD – Janet Yellen testifies\r\n\r\nWEDNESDAY: GBP – BOE Carney speaks &amp; BOE Inflation Report\r\nWEDNESDAY: EUR – Draghi speaks.\r\nWEDNESDAY: AUD – Unemployment Rate.\r\n\r\nTHURSDAY: USD – Core Retail Sales &amp; Retail Sales and Janet Yellen testifies.\r\nTHURSDAY: CNY - CPi\r\n\r\nFRIDAY: CAD – Manufacturing Sales.\r\n\r\n&nbsp;\r\n\r\n<b><span style=\"text-decoration: underline;\">6. FINAL THOUGHTS:</span></b>\r\n\r\nI am expecting consolidation early next week. So, with that in mind, always, always remember that there is a market everyday. You do not need to trade everyday to make your financial goals.\r\n\r\nGood luck and trade within your TRADE PLAN guidelines and most importantly use MONEY MANAGEMENT SKILLS to control your risks.\r\n\r\nScott Pickering\r\nThe Pip Accumulator\r\nSaturday February 8th 2014\r\n\r\nEMAIL / FOLLOW ME AT:\r\ndrivethru@weeklyfxdrivethru.com\r\nTwitter: @pipaccumulator\r\n<span style=\"line-height: 1.5em;\">Google+/scottpickering\r\n</span><span style=\"line-height: 1.5em;\">StockTwits; thepipaccumulator</span>\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&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&nbsp;\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n&nbsp;','DESPITE THE FACT DRAGHI DID NOTHING NEW TO HELP  THE EUROZONE PERIPHERY OR TACKLE DEFLATION THE EURO RALLIED!','','publish','open','closed','','despite-fact-draghi-nothing-new-help-eurozone-periphery-tackle-deflation-euro-rallied','','','2014-02-08 11:03:25','2014-02-08 16:03:25','',0,'https://weeklyfxdrivethru.com/?p=3198',0,'post','',0),(3113,1,'2014-01-22 11:12:05','2014-01-22 16:12:05','11.01.2014\n\n<b><span style=\"text-decoration: underline;\">1. INTRODUCTION:</span></b>\n\nIt was a very quiet first week back for the Fx markets. I thought as the market liquidity levels rose that we would have seen a very volatile opening week of trading. In addition, when you look at the major news events last week, it seemed an “odds on” bet for me. In the end I thought it to be a very tame week.\n\nFOMC minutes, ADP Non Farm, Interest rate decisions passed off quietly, Draghi said nothing new, the ECB press conference pretty lame, big misses on the U.S. and Canadian Jobs but not really a full follow through…a little boring for me.\n\nI have been working on the new PREMIUM SERVICE, which I am looking to launch very soon. As soon as I am able to give a launch date I will post a blog, which will deliver direct to WEEKLY FX DRIVE-THRU subscribers an introduction email with details of how to subscribe etc.\n\n<b><span style=\"text-decoration: underline;\">2. RADAR AND FLASH TRADES TRADING SUMMARY:</span></b>\n<p align=\"center\"><b><span style=\"text-decoration: underline;\">JANUARY 2014 and YEAR to date:</span></b></p>\nThis will be a section in the new PREMIUM SERVICE when launched where I will review good and bad trades. At that time it will no longer be a part of the WEEKLY FX DRIVE-THRU. To take advantage of the trade set-ups you will need to be a PREMIUM SERVICE subscriber.\n\nI have included below, two excel spreadsheets for both types of trading styles that I refer to when I am “tweeting”, using Google+ or any other social network.\n\nRADAR TRADES: These are pre-meditated limit order trades. I hope that these will be longer-term trades.\n\nFLASH TRADES: These are more of an intra-day trade. They may develop into “Swing style” trades but will probably be more short term.\n\n&nbsp;\n\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/01/RADARTRADES14012014.png\"><img class=\"aligncenter size-full wp-image-2475\" alt=\"RADAR TRADES 14.01.2014\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/01/RADARTRADES14012014.png\" width=\"536\" height=\"478\" /></a>\n\n&nbsp;\n<p align=\"center\"><b><span style=\"text-decoration: underline;\">PROFITS FROM SINGLE LOT COMPLETED RADAR TRADES:</span></b></p>\n<p style=\"text-align: center;\"> 1 x MICRO-LOT\n3 trades at $0.10 cents each = $0.30 cents risk for a $13.90 reward.\n<span style=\"line-height: 1.5em;\">1 x MINI-LOT:\n</span><span style=\"line-height: 1.5em;\">3 trades at $1.00 each = $3.00 risk for a $139.00 reward.\n</span><span style=\"line-height: 1.5em;\">1 x STANDARD LOT:\n</span><span style=\"line-height: 1.5em;\">3 trades at $10.00 each = $30.00 risk for a $1,390.00 reward.</span></p>\n&nbsp;\n\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/01/FLASHTRADES14012014.png\"><img class=\"aligncenter size-full wp-image-2474\" alt=\"FLASH TRADES 14.01.2014\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/01/FLASHTRADES14012014.png\" width=\"467\" height=\"479\" /></a>\n\n&nbsp;\n\n&nbsp;\n<p align=\"center\"><b><span style=\"text-decoration: underline;\">PROFITS FROM SINGLE LOT COMPLETED FLASH TRADES:</span></b></p>\n<p align=\"center\">1 x MICRO-LOT:\n4 trades at $0.10 cents each = $0.40 cents risk for an $8.50 reward.</p>\n<p align=\"center\">1 x MINI-LOT:\n4 trades at $1.00 each = $4.00 risk for $85.00 reward</p>\n<p align=\"center\">1 x STANDARD LOT:\n4 trades at $10.00 each = $40.00 risk for a $850.00 reward</p>\n<p align=\"center\"><b><span style=\"text-decoration: underline;\"> </span></b></p>\n<p align=\"center\"><b><span style=\"text-decoration: underline;\">COMBINED FLASH AND RADAR TRADES PROFIT PERFORMANCE</span></b></p>\n<p align=\"center\"><b><span style=\"text-decoration: underline;\">JANUARY 2014…SO FAR:</span></b></p>\n<p align=\"center\">TRADING MICRO-LOTS:\n7 trades at $0.10 cents each = $0.70 risk for a $22.40 reward.</p>\n<p align=\"center\">TRADING MINI-LOTS:\n7 trades at $1.00 each = $7.00 risk for a $224.00 reward.</p>\n<p align=\"center\">TRADING STANDARD LOTS:\n7 trades at $10.00 each = $70.00 risk for a $2,240.00 reward.</p>\nIt is a great start to a new year of trading, albeit quite slow. As I have said many times before… It is no big secret…. It’s all about discipline. I am NOT chasing trades, far from it, it took three/four attempts at pullbacks for GBP/AUD, AUD/USD and GBP/USD to trigger (these trades are still active).\n\nMy approach is all about discipline. The market will always be there and as long as there is a market there will be opportunities.\n<p style=\"text-align: left;\">Look my trading style - it’s simple: -</p>\n<p align=\"center\"><strong>FUNDAMENTALS MATTER TO ME</strong></p>\n<p align=\"center\"><strong>I TRADE TO MAKE MONEY…NOT TO PICK TOPS OR BOTTOMS</strong></p>\n<p align=\"center\"><strong>I TRADE LOW RISK</strong></p>\n<p align=\"center\"><strong>I DO NOT CHASE MARKETS</strong></p>\n<p align=\"center\"><strong>I LIKE THE TRADES TO COME TO ME</strong></p>\n<p align=\"center\"><strong>I AM NOT A GREEDY TRADER</strong></p>\n<p align=\"center\"><strong>I LIKE TO TRADE MOMENTUMS IN THE DIRECTION OF TRENDS</strong></p>\n<p align=\"center\"><strong>I USE FIBONACCI LEVELS TO ENTER &amp; EXIT ON MANY TRADES</strong></p>\n<p align=\"center\"><strong>PLUS</strong></p>\n<p align=\"center\"><strong>MY TRADING STYLE IS MIXED EVEN WITH THE ABOVE KEY BASICS</strong></p>\n<p align=\"center\"><strong>I USE THE PULLBACK STRATEGY TO ENTER AND I LIKE SWING AND LONGER-TERM TRADES (WHEN POSSIBLE)</strong></p>\nDetails of my new PREMIUM SERVICE that gives you the option to follow the FLASH and RADAR TRADES, amongst other things, follows later in this blog.\n\n&nbsp;\n\n<b><span style=\"text-decoration: underline;\">3. THE VIEW FROM MY TRADING DESK:</span></b>\n<p align=\"center\"><b>CORRELATIONS ARE OFF…MIXED MESSAGES ON DATA…2014 WELCOMES ALL FX TRADERS!!!</b><b> </b></p>\n<p align=\"center\"><b>WE HAVE TO BE ADAPTIVE AND DISCIPLINED TRADERS AT ALL TIMES</b></p>\nLast week in my blog with my predictions for 2014, I mentioned the fact that I strongly suspected that correlations and inter-market relationships may not run as true as in previous years.\n\nI wrote the following in last week’s blog: -\n<p style=\"text-align: center;\"><b><i>“I see this disconnect continuing, hence my forward thinking into 2014 shows disconnects between the majors. My thoughts are that there will be more extended periods when currencies will act independently this year. Correlations will come and go.</i></b></p>\n<p align=\"center\"><b><i>Typical examples of “the disconnect” are the following correlations: -</i></b><b><i> </i></b></p>\n<p align=\"center\"><b><i>USD / Gold\n</i></b><b><i>AUD / NZD\n</i></b><b><i>Commodity currencies / equities\n</i></b><b><i>EUR / GBP\n</i></b><b><i>CAD / USD\n</i></b><b><i>JPY / S&amp;P\n</i></b><b><i>AUD &amp; NZD / Copper\n</i></b><b><i>EUR / CHF\n</i></b><b><i>EUR/GBP / GBP/CHF\n</i></b><b><i>JPY &amp; CHF / Gold”</i></b></p>\n It can be easy to be assumptive and influenced as a trader. I may influence by writing this blog. As a trader, one of the hardest aspects of trading to master and be consistent in doing so is being able to remove all the noise around you and trade your own plan.\n\nPrior to the Non Farm Payroll release if you were influenced (and it is not hard to be), by all the experts and pundits on TV and written articles you would have been totally 100% set up on the wrong side of the trade.\n\nIn my blog last week I missed two news events that have been very well linked of late; ADP Non-Farm figures and the U.S. Government Non-Farm Payroll statistics.\n\nThese have been very correlated of late, so much so, that analysis’s expectations were raised for “Non-Farm’ on Friday on the back of excellent “ADP Employment data” figures released last Wednesday. Expectations of 190,000 additional people working were whispered to be around 225,000 following good ADP numbers last Wednesday. The actual release was a mere 74,000 additional people working. That is what is referred to as a miss.\n\nMy main reason for revisiting a similar theme to last week’s blog is to re-emphasize the fact that I think that in this year to be a successful Fx trader you will need to adapt to perhaps some very new disciplines.\n<ol>\n	<li>Ignore the “noise” around you. By noise, I mean a lot of the pointless financial chatter on Bloomberg or CNBC. This can also include bloggers like myself. You have to be your own trader. Take council, and do your research, but the buck stops with you.</li>\n	<li>Note: The experts on TV are just selling their book and taking guesses at economic data. You and I can take just as good a guess as they can a lot of the time.</li>\n	<li>Fundamentals do matter. Fundamentals in my opinion should be directly linked to the type of trader you aspire to be. e.g. Scalpers need not worry too much about fundamentals. Longer-term traders definitely need to consider the fundamentals.</li>\n	<li>Be flexible as a trader. More than ever this is a critical success factor. Do not pigeon hole yourself as “ Swing”, “Scalper”, “Long-Term”, “Fundamental” or a “Technical” trader. I firmly believe that in 2014 you will require a little bit of everything in order to keep your head above water.</li>\n	<li>Finally, take nothing for granted. If in doubt exit trades and bank profits. Do not let losing trades run away from you.</li>\n	<li>I nearly always close my blogs with words like these…Trade smaller position sizes, with wider stops and work your Trading Plan using proper Money Management.</li>\n</ol>\nIt’s all boring but essential stuff that we have all heard before many times. If I am correct and this is the “dis-connect” year we will all need a 100% disciplined approach to trading.\n\nIt is far too easy to be suckered into trades in the forex market. It is a totally unforgiving trading environment. Be disciplined at all times.\n\n&nbsp;\n\n<b><span style=\"text-decoration: underline;\">4. MY CURRENT LIVE TRADES:</span></b>\n\nFLASH TRADES: No live FLASH TRADES at this time.\n\nRADAR TRADES: The following trades are live. They all emanated from last weeks MIDWEEK FX FIX trade set-ups.\n<p style=\"text-align: center;\"><strong> RT01\n</strong><strong style=\"line-height: 1.5em;\">PAIR: USD/CHF\n</strong><strong style=\"line-height: 1.5em;\">LONG /SHORT: LONG\n</strong><strong style=\"line-height: 1.5em;\">ENTRY / COST AVERAGE: 0.9030\n</strong><strong style=\"line-height: 1.5em;\">TRADE SIZE: 20%\n</strong><strong style=\"line-height: 1.5em;\">STOP LOSS: 0.8940\n</strong><strong style=\"line-height: 1.5em;\">TARGET / LIMIT: 0.9450\n</strong><strong style=\"line-height: 1.5em;\">WEEKLY CLOSING PRICE: 0.9021\n</strong><strong style=\"line-height: 1.5em;\">PRESENT POSITION: -9 pips</strong></p>\n<p align=\"center\"><strong>RT02</strong>\n<strong>PAIR: AUD/USD</strong>\n<strong>LONG/ SHORT: SHORT</strong>\n<strong>ENTRY / COST AVERAGE: 0.9000</strong>\n<strong>TRADE SIZE: 20%</strong>\n<strong>STOP LOSS: 0.9050</strong>\n<strong>TARGET / LIMIT: 0.8500</strong>\n<strong>WEEKLY CLOSING PRICE: 0.8994</strong>\n<strong>PRESENT POSITION: +6 pips</strong></p>\n<p align=\"center\"><strong> RT05</strong>\n<strong>PAIR: GBP/AUD</strong>\n<strong>LONG /SHORT: LONG</strong>\n<strong>ENTRY / COST AVERAGE: 1.8350</strong>\n<strong>TRADE SIZE: 10%</strong>\n<strong>STOP LOSS: 1.8250</strong>\n<strong>TARGET / LIMIT: 1.9670</strong>\n<strong>WEEKLY CLOSING PRICE: 1.8314</strong>\n<strong>PRESENT POSITION: -36 pips</strong></p>\n<p align=\"center\"><strong> RT11\nPAIR: GBP/USD\nLONG /SHORT: SHORT\nENTRY / COST AVERAGE: 1.6500\nTRADE SIZE: 20%\nSTOP LOSS: 1.6550\nTARGET / LIMIT: 1.6200\nWEEKLY CLOSING PRICE: 1.6478\nPRESENT POSITION: +22 pips</strong></p>\n&nbsp;\n\n<b><span style=\"text-decoration: underline;\">5. TRADES THAT ARE ON MY RADAR:</span></b>\n\nBelow is the current list of RADAR TRADES that have yet to trigger from the last blog. Plus there are some additional trade set-ups that interest me.\n\nYou will notice that on all the CAD pairs that entry levels have been amended.\n<p align=\"center\"><strong>RT03:</strong>\n<strong>Currency Pair: NZD/USD</strong>\n<strong>Long/Short: Short</strong>\n<strong>Limit Order Entry Price: 0.8320</strong>\n<strong>My Proposed Position Size: 20%</strong>\n<strong>Stop Loss: 0.8370</strong>\n<strong>Target / Limit: 0.8240</strong></p>\n<p style=\"text-align: center;\"><strong>RT04:</strong>\n<strong>Currency Pair: USD/CAD</strong>\n<strong>Long/Short: Long</strong>\n<strong>Limit Order Entry Price: 1.0800</strong>\n<strong>My Proposed Position Size: 20%</strong>\n<strong>Stop Loss: 1.0725</strong>\n<strong>Target / Limit: 1.1230</strong></p>\n<p style=\"text-align: center;\"><strong>RT06:</strong>\n<strong>Currency Pair: EUR/CAD</strong>\n<strong>Long/Short: Long</strong>\n<strong>Limit Order Entry Price: 1.4800</strong>\n<strong>My Proposed Position Size: 20%</strong>\n<strong>Stop Loss: 1.4700</strong>\n<strong>Target / Limit: 1.6320</strong></p>\n<p style=\"text-align: center;\"><strong>RT07:</strong>\n<strong>Currency Pair: GBP/CAD</strong>\n<strong>Long/Short: Long</strong>\n<strong>Limit Order Entry Price: 1.7840</strong>\n<strong>My Proposed Position Size: 20%</strong>\n<strong>Stop Loss: 1.7750</strong>\n<strong>Target / Limit: 1.9200</strong></p>\n<p style=\"text-align: center;\"><strong>RT10:</strong>\n<strong>Currency Pair: EUR/GBP</strong>\n<strong>Long/Short: Short</strong>\n<strong>Limit Order Entry Price: 0.8320</strong>\n<strong>My Proposed Position Size: 20%</strong>\n<strong>Stop Loss: 0.8400</strong>\n<strong>Target / Limit: 0.8160</strong></p>\n<p style=\"text-align: center;\"><strong>RT13:</strong>\n<strong>Currency Pair: EUR/NZD</strong>\n<strong>Long/Short: Long</strong>\n<strong>Limit Order Entry Price: 1.6420</strong>\n<strong>My Proposed Position Size: 10%</strong>\n<strong>Stop Loss: 1.6350</strong>\n<strong>Target / Limit: 1.7500</strong></p>\n<p style=\"text-align: center;\"><strong>RT14:</strong>\n<strong>Currency Pair: GBP/NZD</strong>\n<strong>Long/Short: Long</strong>\n<strong>Limit Order Entry Price: 1.9780</strong>\n<strong>My Proposed Position Size: 10%</strong>\n<strong>Stop Loss: 1.9650</strong>\n<strong>Target / Limit: 2.0100</strong></p>\n<p style=\"text-align: center;\"><strong>RT15:</strong>\n<strong>Currency Pair: EUR/AUD</strong>\n<strong>Long/Short: Long</strong>\n<strong>Limit Order Entry Price: 1.5100</strong>\n<strong>My Proposed Position Size: 10%</strong>\n<strong>Stop Loss: 1.4980</strong>\n<strong>Target / Limit: 1.5600</strong></p>\n<p style=\"text-align: center;\"><strong>RT16:</strong>\n<strong>Currency Pair: AUD/NZD</strong>\n<strong>Long/Short: Long</strong>\n<strong>Limit Order Entry Price: 1.0790</strong>\n<strong>My Proposed Position Size: 20%</strong>\n<strong>Stop Loss: 1.0685</strong>\n<strong>Target / Limit: 1.1050</strong></p>\n<p style=\"text-align: center;\"><strong>RT17:</strong>\n<strong>Currency Pair: AUD/CHF</strong>\n<strong>Long/Short: Long</strong>\n<strong>Limit Order Entry Price: 0.8050</strong>\n<strong>My Proposed Position Size: 10%</strong>\n<strong>Stop Loss: 0.7985</strong>\n<strong>Target / Limit: 0.8270</strong></p>\n<b><span style=\"text-decoration: underline;\">NOTE</span></b>: I will not be able to add limit orders and revise existing limit orders until the market opens tomorrow night (Sunday)\n\n&nbsp;\n\n<b><span style=\"text-decoration: underline;\">6. LOOKING FORWARD…THE KEY SUPPORT &amp; RESISTANCE LEVELS WITH THE USD MAJORS:</span></b>\n\n<b>EUR/USD: Closing Price 1.3667.</b>  This pair rejected 1.3700 resistance after Non Farm yesterday. I think that if we break higher through 1.3770 next week everything changes. Support is good at 1.3600 and 1.3550 below that I would personally trade the range 1.3550 to 1.3725.\n\n<b>GBP/USD: Closing Price 1.6478. </b>The 1.6500 resistance held pretty well. A huge amount depends upon what happens with the EUR/USD and USD/JPY as to how this pair will play out next week. The UK has Retail Sales data late in the week but we have CPi numbers in Tuesday. Recent data from the UK has been very mixed to say the least. It is well known that BOE Governor Carney does not want the GBP to strengthen too far, but there is nothing planned for his intervention to send the currency towards 1.6000. 1.6400 is good support and I would consider a break above 1.6540 could set us up for a bigger move towards 1.7000\n\n<b>AUD/USD: Closing Price 0.8994</b>.  Although I am short, this pair looks like it could snap higher. A break above 0.9060 I think would be a sentiment change and support is good at 0.8900. The one thing to bear in mind with this pair is the desire by the RBA to have the AUD currency much lower towards 0.8500. Do not fight the RBA.\n\n<b>NZD/USD: Closing Price 0.8298</b>.  The resistance level of 0.8300 has held very well. If the AUD breaks higher it is just a question of how long would it take for the Kiwi to follow. I have a RADAR TRADE short limit entry at 0.8320. Personally, I believe the range to play for the time being is 0.8200 to 0.8300. I am looking for a stop run over 0.8300 to have my entry triggered. That did not happen after Non Farm, which would have been the ideal time given the AUD/USD move after Non Farm. We sit on 0.8300 resistance. If we break above 0.8350 I will start to get twitchy.\n\n<b>USD/CAD: Closing Price 1.0885.  </b>I am so annoyed with myself for missing this break out trade. All my attempts to get an entry I am happy with have failed. I even scalped this pair after Non Farm and exited with small profits because I was not happy with the entry level for a longer-term trade. The trading range at the moment is 1.0800 to 1.0950. I have a buy order at 1.0800. I may still not get the pullback I want!\n\n<b>USD/CHF: Closing Price 0.9021</b>.  This pair is in break out mode and I patiently waited for my entry after Non Farm. Support is good at 0.8950 and above 0.9125 we should be motoring much higher.\n\n<b>USD/JPY: Closing Price 104.15. </b> Every prediction on my chart analysis on this pair I screw up. Ultimately I do think that this pair is going much, much higher. I just think that there will be a pullback first, but I am not too sure how strong a pullback it’s going to be. In April this year the Abe led Government will implement tax changes to hopefully spur inflation towards the 2% target. I want to be long before then. I think we will possibly re-test 103.50 on the short side. Is this the level to get long and stick with it? I am not sure yet.\n\nMy range for this pair at the moment is 103.50 to 104.60.\n\n&nbsp;\n\n<b><span style=\"text-decoration: underline;\">7. MAJOR FOREX NEWS THIS WEEK THAT INTERESTS ME:</span></b>\n\nSUNDAY: N/A\n\nMONDAY: GBP – CPi.\n\nTUESDAY: USD – Retail and Core Retail Sales.\n\nWEDNESDAY: AUD – Unemployment Numbers and % rates.\n\nTHURSDAY: N/A\n\nFRIDAY: GBP – Retail Sales.\n\n&nbsp;\n\n<b><span style=\"text-decoration: underline;\">8. THE PREMIUM SERVICE:</span></b>\n<p align=\"center\"><b><span style=\"text-decoration: underline;\">THE WEEKLY FX DRIVE-THRU</span></b><b>\n<span style=\"text-decoration: underline;\">PREMIUM SERVICE  2014 </span></b>\n\nI am still working with my software developer to have this addition to the WEEKLY FX DRIVE-THRU ready within the next two weeks. My intention is to launch the PREMIUM SERVICE subscription service as soon as the markets revert back to normal liquidity.\n\nWe have noticed however that a number of people have tried to register already. For anyone who has tried to register their details were deleted by the system under beta testing and even if you believe that you have an existing login or username that is not the case. As soon as I write announcing that the PREMIUM SERVICE is ready, sorry, but you will have to register again.\n\nFor those new readers below I detail the salient points regarding the premium service: -\n\nAs soon as the PREMIUM SERVICE is launched THE WEEKLY FX DRIVE-THRU in its current format will change. It will remain a weekly blog post although it will be more concise in length.\n\nMy “RADAR and FLASH TRADES” will now only be available via the Premium Service. In addition, “TRADE IDEAS &amp; SET UPS” that are tweeted will now only be available to Premium Service subscribers by email and in addition they can be viewed inside the secure section of my website.\n\nExamples of the RADAR and FLASH TRADES excel spreadsheets are in this blog at Section 2.\n\nIn 2013, feedback from subscribers to the “Drive-Thru”, or from readers of the blog via Google+, LinkedIn or Twitter have been raising many questions about Forex Trading in general, such as: -\n\n</p><p align=\"center\"><b>Placing Stops</b></p>\n<p align=\"center\"><b>Strategies on entry and exit</b></p>\n<p align=\"center\"><b>Working with a Trade Plan</b> / <b>What is a Trade Plan?</b></p>\n<p align=\"center\"><b>Risk Assessment</b></p>\n<p align=\"center\"><b>When to fade trades</b></p>\n<p align=\"center\"><b>How to cost average effectively</b></p>\n<p align=\"center\"><b>How to use Trade Zones effectively - Buy Zones and Sell zones</b></p>\n<p align=\"center\"><b>Working with Fibonacci levels</b></p>\n<p align=\"center\"><b>How to find a good broker to partner with</b></p>\n<p align=\"center\"><b>Chart analysis</b></p>\nInside the secure area of my website, you will be able to reference information on all of the above topics plus much more. The library of information will grow during 2014 and my goal is to provide a comprehensive support area to traders of all experience levels. The PREMIUM SERVICE in its secure area will be a learning and reference area to subscribers.\n\nI am also looking to offer training and information based “Webinars” to Premium Service subscription members, if I have sufficient participants. These will be fee based to cover costs.\n\nWhilst upon first look, it may appear that the Premium Service is directed solely at new traders, or those with intermediate skill levels, please note this is not my intention. Trading can be lonely, and sometimes it is good to feel that you are part of a team. With this in mind, I am thinking that a “Chat Room” style area would be of benefit to all traders to share ideas and trade set-ups. Plus, whether a new trader or experienced trader it is always good to have a library of information available close at hand.\n\nWhat are the costs of membership?\n\nThere will be 40 weekly blogs / issues per year (I will not write in the Summer and over Christmas periods), with an unlimited amount of follow ups during the week to review and act upon “RADAR and FLASH trades” and issues emanating from previous blogs. In addition trade ideas for trades already in play would also be part of the service, as I will be trading the posted set-ups.\n\nI do not want to become a finance administrator on a daily basis so I want to keep the subscription options as few as possible.\n<p align=\"center\"><b>ANNUAL (40 WEEK) SUBSCRIPTION: $750.00 (this equates to $18.75 per week) </b></p>\n<p align=\"center\"><b>20 WEEKS SUBSCRIPTION: $450.00 (this equates to $22.50 per week) </b></p>\n<p align=\"center\"><b>10 WEEKS SUBSCRIPTION: $250.00 (this equates to $25.00 per week) </b></p>\n<p align=\"center\"><b>(ALL FEES ARE IN USD)</b></p>\nShould you have any questions regarding the PREMIUM SERVICE please email me at premiumservice@thepipaccumulator.com<b></b>\n\n<b><span style=\"text-decoration: underline;\"> </span></b>\n\n<b><span style=\"text-decoration: underline;\">9. FINAL THOUGHTS:</span></b>\n\nA little quieter this week on the news front in particular. However, following Non Farm Payrolls there is usually a bit of follow through to work with and react to.\n\nWe should see liquidity come back to the market even more this week and currency moves should be more sustainable and pretty much back to normal…whatever that means!!\n\nI will be posting RADAR and FLASH trade set ups via twitter as the week progresses and they will be performance measured via spreadsheets in next week blog.\n\nGood luck and trade within your TRADE PLAN guidelines and most importantly use MONEY MANAGEMENT SKILLS to control your risks.\n\n&nbsp;\n\nScott Pickering\nThe Pip Accumulator\nSaturday January 11<sup>th</sup> 2014\n\nEMAIL / FOLLOW ME AT:\n<a href=\"mailto:drivethru@thepipaccumulator.com\">drivethru@thepipaccumulator.com\n</a>Twitter: @pipaccumulator\n<span style=\"line-height: 1.5em;\">Google+/scottpickering\n</span><span style=\"line-height: 1.5em;\">StockTwits; thepipaccumulator</span>\n\n&nbsp;\n\n&nbsp;','CORRELATIONS ARE OFF…MIXED MESSAGES ON DATA…2014 WELCOMES ALL FX TRADERS!!!','','inherit','open','closed','','2913-autosave-v1','','','2014-01-22 11:12:05','2014-01-22 16:12:05','',2913,'https://weeklyfxdrivethru.com/2913-autosave-v1/',0,'revision','',0),(3114,1,'2014-01-22 11:20:27','2014-01-22 16:20:27','<section class=\"pdf-links\">\n<div class=\"one-third first\"><a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/01/Ascending-Triangle.pdf\">Ascending Triangle</a>\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/01/Bump-and-Run-Reversal.pdf\">Bump and Run Reversal</a>\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/01/Cup-with-Handle.pdf\">Cup with Handle</a>\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/01/Descending-Triangle.pdf\">Descending Triangle</a>\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/01/Double-Bottom-Reversal.pdf\">Double Bottom Reversal</a>\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/01/Double-Top-Reversal.pdf\">Double Top Reversal</a></div>\n<div class=\"one-third\"><a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/01/Falling-Wedge1.pdf\">Falling Wedge</a>\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/01/Flag-Pennant-Continuation.pdf\">Flag, Pennant (Continuation)</a>\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/01/Head-and-Shoulders-Bottom1.pdf\">Head and Shoulders Bottom</a>\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/01/Head-and-Shoulders-Top1.pdf\">Head and Shoulders Top</a>\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/01/Measured-Move-Bearish-Continuation.pdf\">Measured Move - Bearish Continuation</a>\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/01/Measured-Move-Bullish.pdf\">Measured Move (Bullish)</a></div>\n<div class=\"one-third\"><a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/01/Rising-Wedge.pdf\">Rising Wedge</a>\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/01/Rounding-Bottom.pdf\">Rounding Bottom</a>\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/01/Symmetrical-Triangle.pdf\">Symmetrical Triangle</a>\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/01/Triple-Bottom.pdf\">Triple Bottom</a>\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/01/Triple-Top-Reversal.pdf\">Triple Top Reversal</a></div>\n</section>\n<div class=\"one-half first\">\n\nThese resources are in PDF format that will allow for easy printing\n\n</div>','Chart Patterns','','inherit','open','closed','','2543-autosave-v1','','','2014-01-22 11:20:27','2014-01-22 16:20:27','',2543,'https://weeklyfxdrivethru.com/2543-autosave-v1/',0,'revision','',0),(3279,1,'2014-02-22 10:32:25','2014-02-22 15:32:25','<section class=\"pdf-links\">\r\n<div class=\"one-third first\"></div>\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/02/TRADING-WITH-ATRs.pdf\">TRADING WITH ATR\'s</a>\r\n<div class=\"one-third\"></div>\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/02/HEDGING.pdf\">HEDGING</a>\r\n<div class=\"one-third\"></div>\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/02/CREATING-A-TRADING-PLAN-3.0.pdf\">CREATING A TRADING PLAN (3.0)</a>\r\n\r\n</section>\r\n<div class=\"one-half first\">\r\n\r\nThese resources are in PDF format that will allow for easy printing\r\n\r\n</div>','Trading Essentials','','inherit','open','closed','','2538-revision-v1','','','2014-02-22 10:32:25','2014-02-22 15:32:25','',2538,'https://weeklyfxdrivethru.com/2538-revision-v1/',0,'revision','',0),(3116,1,'2014-01-22 11:25:01','2014-01-22 16:25:01','\r\n<section class=\"pdf-links\">\r\n<div class=\"one-third first\">\r\n\r\n\r\n</div>\r\n<div class=\"one-third\">\r\n\r\n</div>\r\n<div class=\"one-third\">\r\n\r\n</div>\r\n</section>\r\n<div class=\"one-half first\">\r\n\r\nThese resources are in PDF format that will allow for easy printing\r\n\r\n</div>','Trading Essentials','','inherit','open','closed','','2538-revision-v1','','','2014-01-22 11:25:01','2014-01-22 16:25:01','',2538,'https://weeklyfxdrivethru.com/2538-revision-v1/',0,'revision','',0),(3124,16,'2014-01-22 18:03:04','2014-01-22 23:03:04','<h2>1. INTRODUCTION:</h2>\n\nAfter several hectic weeks, I am now pleased to say that with immediate effect the new PREMIUM SERVICE subscriber based option is ready to launch. You can sign up now from the “Log-in” area on the WEEKLY FX DRIVE-THRU. It is a straightforward process all you require is a PayPal account from which to choose the subscription level that you want. I will cover the features and benefits of the PREMIUM SERVICE later in this blog\n\nIt was a very interesting week of trading in the Forex market. The Non-Farm payroll miss on 10<sup>th</sup> January was a disaster for the USD and the “hangover effect” of the data miss rolled over into Monday of the following week. This created havoc with my RADAR trades and levels were being triggered like crazy and pivots that I had alarmed were hit very frequently with the market volatility. I had one morning where I “fat fingered” trades and closed all positions instead of just one…a complete disaster.\n\nI cancelled all outstanding RADAR trades and started again. The last three days of the weeks trading was excellent from a cash reward perspective and I closed out of all positions bar one as we headed into a U.S. holiday weekend.\n\nAs I have written several times (to say the least) over the past two years, I will NOT chase trades. It is a fantastic discipline to have even though at times you miss some tremendous moves, like this past week, the AUD/USD big short move plus the GBP/AUD and EUR/AUD huge upside moves. The total - about 800 pips…yikes. However, in the long run overall, it balances out because breakouts or breakdowns can be false and you can get well stung.\n\n<h2>2. RADAR AND FLASH TRADES TRADING SUMMARY:</h2>\n<p align=\"center\"><b><span style=\"text-decoration: underline;\">JANUARY 2014 and YEAR to date:</span></b></p>\nFrom now on, to take advantage of all the trade set-ups you will need to be a PREMIUM SERVICE subscriber.\n\nI have included below, excel spreadsheets for FLASH and RADAR trades trading styles that I refer to when I am “tweeting”, using Google+ or any other social network.\n\nRADAR TRADES: These are pre-meditated limit order trades. I hope that these will be longer-term trades.\n\nFLASH TRADES: These are more of an intra-day trade. They may develop into “Swing style” trades but will probably be more short term.\n\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/01/RADAR-TRADES-1-18012014.png\"><img class=\"aligncenter size-full wp-image-3035\" alt=\"RADAR TRADES 1 - 18012014\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/01/RADAR-TRADES-1-18012014.png\" width=\"532\" height=\"477\" /></a>\n\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/01/RADAR-TRADES-2-18012014.png\"><img class=\"aligncenter size-full wp-image-3036\" alt=\"RADAR TRADES 2 18012014\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/01/RADAR-TRADES-2-18012014.png\" width=\"532\" height=\"495\" /></a>\n\n\n<h3>PROFITS FROM SINGLE LOT COMPLETED RADAR TRADES:</h3>\n<h5>1 x MICRO-LOT:\n23 trades at $0.10 cents each = $2.30 cents risk for an $8.00 reward.</h5>\n<h5>1 x MINI-LOT:\n<span style=\"line-height: 1.5em;\">23 trades at $1.00 each = $23.00 risk for an $80.00 reward.</span></h5>\n<p align=\"center\">1 x STANDARD LOT:\n23 trades at $10.00 each = $230.00 risk for an $800.00 reward.</p>\n&nbsp;\n<p style=\"text-align: center;\"><a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/01/FLASH-TRADES-18012014.png\"><img class=\"aligncenter size-full wp-image-3037\" alt=\"FLASH TRADES 18012014\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/01/FLASH-TRADES-18012014.png\" width=\"469\" height=\"478\" /></a></p>\n<p align=\"center\"><b><span style=\"text-decoration: underline;\">PROFITS FROM SINGLE LOT COMPLETED FLASH TRADES</span></b></p>\n<p align=\"center\">1 x MICRO-LOT:\n10 trades at $0.10 cents each = $1.00 cents risk for a $15.10 reward.</p>\n<p align=\"center\">1 x MINI-LOT:\n10 trades at $1.00 each = $10.00 risk for a $151.00 reward</p>\n<p align=\"center\">1 x STANDARD LOT:\n10 trades at $10.00 each = $100.00 risk for a $1,510.00 reward</p>\n<p align=\"center\"><b><span style=\"text-decoration: underline;\"> </span></b></p>\n<p align=\"center\"><b><span style=\"text-decoration: underline;\">COMBINED FLASH AND RADAR TRADES PROFIT PERFORMANCE</span></b></p>\n<p align=\"center\"><b><span style=\"text-decoration: underline;\">JANUARY 2014…SO FAR:</span></b></p>\n<p align=\"center\">TRADING MICRO-LOTS:\n33 trades at $0.10 cents each = $3.30 risk for a $23.10 reward.</p>\n<p align=\"center\">TRADING MINI-LOTS:\n33 trades at $1.00 each = $33.00 risk for a $230.10 reward.</p>\n<p align=\"center\"> TRADING STANDARD LOTS:\n33 trades at $10.00 each = $330.00 risk for a $2,310.00 reward.</p>\nThe profitability examples detailed above are based solely upon single lot trading, regardless of lot type. If multiple lot sizes are traded the profitability margins will be different than those shown.\n\nJust remember, trades are of different sizes, added to, profits are taken along the way the cost average moves and all trades are of different lot styles. I trade, micro lots, mini lots and standard lots across my brokers. When the PREMIUM SERVICE starts I will add in three columns on these excel sheets to indicate what lot style I am trading on the various set ups.\n\n&nbsp;\n\n<b><span style=\"text-decoration: underline;\">3. DETAILS OF THE PREMIUM SERVICE\n</span></b>\n\nFrom today you are able to login and register for the PREMIUM SERVICE on the welcome page of the WEEKLY FX DRIVE-THRU.\n\nIn the past few weeks I have written several times about some of the changes to be expected when the PREMIUM SERVICE launches and I have been asked what stays with the free to subscribe WEEKLY FX DRIVE-THRU and what will be the new content and format of the PREMIUM SERVICE.\n\nI am hoping that the following extended version will answer all of the questions.\n\nFor those people reading about the PREMIUM SERVICE for the first time, I hope that you find the following informative, exciting and something that you want to be part of.\n\nFirstly, the PREMIUM SERVICE is a subscriber only addition to The Weekly Fx Drive-Thru.\n\nWhat are the differences between the WEEKLY FX DRIVE-THRU and the PREMIUM SERVICE?\n\nThe most obvious difference will be that all FLASH and RADAR trade set-ups plus anything I deem to be exclusive will be available to PREMIUM SERVICE subscribers. It will be a 24x5 service, in line with my sleeping habits that is!\n\nWhy two trade types and what do they mean?\n\nRADAR TRADES are based on areas of support and resistance. This is where in my opinion we are at points of interest when buying and selling pressures converge and increase and I believe that buyers or sellers will be more active to move the currency pair more often than not in the opposite direction.\n\nFLASH TRADES are intra-day trades that I take on the “Pullback Strategy”, these tend to be more scalping trades but they can evolve into swing trade set-ups.\n\nAll trade set-ups that I flag and that I subsequently enter will be measured via an excel spreadsheet within the PREMIUM SERVICE blog each week. The status of each open trade will be updated daily in the PREMIUM SERVICE subscriber area of my website.\n\nMost importantly, PREMIUM SERVICE subscribers will also have access to a secure Twitter account that will contain all the FLASH and RADAR trades set-ups, entries and exits. Details of how to connect to this Twitter account will be included in my welcome letter after your subscription has been completed.\n\nIn addition to FLASH and RADAR trades trading history, the subscriber area will contain as much support information that I can gather that is of use for trading profitably. The support pages areas will increase so that it becomes a one-stop point of reference for all styles and types of traders regardless of experience.\n\nI am hoping to have a chat room so that subscribers and myself can chat live about potential live trades. In addition, if the number of participants is economically viable, I will hold webinars on trading issues.\n\nFrom the visual perspective of the blogs that are posted, what will the differences be between the WEEKLY FX DRIVE-THRU and the PREMIUM SERVICE?\n\nThe present / usual format of the WEEKLY FX DRIVE-THRU is as follows: -\n<ol>\n	<li>INTRODUCTION.</li>\n	<li>TRADE SUMMARY (FLASH and RADAR trades).</li>\n	<li>VIEW FROM MY DESK – My comment on the markets etc.</li>\n	<li>MY CURRENT / EXISTING LIVE TRADES.</li>\n	<li>WHAT’S ON MY RADAR? (RADAR TRADE SET-UPS).</li>\n	<li>LOOKING AHEAD  - USD MAJORS (support and resistance levels).</li>\n	<li>NEWS EVENTS IN THE COMING WEEK THAT INTEREST ME.</li>\n	<li>FINAL THOUGHTS and COMMENTS.</li>\n</ol>\nItems 1, 2, 6, 7 and 8 will be the format for the “Free” blog moving forward.\n\nThe format for the PREMIUM SERVICE will be as follows: -\n<ol>\n	<li>INTRODUCTION.</li>\n	<li>TRADE SUMMARY (FLASH, RADAR and FUNDAMENTAL trades).</li>\n	<li>THE FUNDAMENTAL TRADERS OVERVIEW.\n(This will be my comments on the macro level views I have at the time)</li>\n	<li>TRADERS TOPICS.\n(I have promised several readers that at least once each month I will post a response to questions raised about trading in the feedback sections and from direct email).</li>\n	<li>MY CURRENT / EXISTING LIVE TRADES.</li>\n	<li>THE TRADING STRATEGY.\n(My trading style will be opened up in the coming weeks / months. This section in conjunction with the FUNDAMENTAL OVERVIEW section will detail not just the daily and weekly RADAR trade set-ups based around high interest levels of buying and selling, but it will include my FUNDAMENTAL trade set-ups that so far I have never tweeted or talked about).</li>\n	<li>LOOKING AHEAD  - USD MAJORS (support and resistance levels).</li>\n	<li>NEWS EVENTS IN THE COMING WEEK THAT INTEREST ME.</li>\n	<li>FINAL THOUGHTS and COMMENTS.</li>\n</ol>\nAs referred to above, here is a list of potential topics for the PREMIUM SERVICE blog under TRADER TOPICS or maybe for a future webinar: -\n<p align=\"center\"><b>Placing Stops</b>\n<b>Strategies on when to enter and exit trades</b>\n<b>Working with a Trade Plan and</b> <b>what is a Trade Plan?</b>\n<b>Risk Assessment</b>\n<b>When to fade trades</b>\n<b>How to cost average effectively</b>\n<b>How to use Trade Zones effectively - Buy Zones and Sell zones</b>\n<b>Working with Fibonacci levels</b>\n<b>How to find a good broker to partner with</b>\n<b>Basic Chart analysis</b></p>\nThe PREMIUM SERVICE will evolve as it moves forward. I have lots of ideas to integrate into this area, but I am also open to ideas from readers / followers and subscribers.\n\nThis is a very important step for me as well; I want the PREMIUM SERVICE to be different to other similar services currently available.\n\nI trade currencies to make money.\n\nWhilst I like the idea of longer-term trading, if the market looks false to me I will cut profitable trades and bank money. I am not looking for the glory of three/four week trades to show I have nerves of steel to make +300 pips or so. If I can make 300 pips from three or four 24/48-hour trades instead, who cares. It’s all about banking profits and minimizing risk. Having said that I do have my longer-term FUNDAMENTAL trades (as I call them).\n\nI will have a balance of intra-day, swing and long term trades. It is your choice to pick what you want to take and what to risk. I am a low-risk very conservative trader.\n<p align=\"center\"><strong>FUNDAMENTALS MATTER TO ME</strong></p>\n<p align=\"center\"><strong>I TRADE TO MAKE MONEY…NOT TO PICK TOPS OR BOTTOMS</strong></p>\n<p align=\"center\"><strong>I TRADE LOW RISK</strong></p>\n<p align=\"center\"><strong>I DO NOT CHASE MARKETS</strong></p>\n<p align=\"center\"><strong>I LIKE THE TRADES TO COME TO ME</strong></p>\n<p align=\"center\"><strong>I AM NOT A GREEDY TRADER</strong></p>\n<p align=\"center\"><strong>I LIKE TO TRADE MOMENTUMS IN THE DIRECTION OF TRENDS</strong></p>\n<p align=\"center\"><strong>I USE FIBONACCI LEVELS TO ENTER &amp; EXIT ON MANY TRADES</strong><strong> </strong></p>\n<p align=\"center\"><strong>PLUS</strong></p>\n<p align=\"center\"><strong>MY TRADING STYLE IS MIXED EVEN WITH THE ABOVE KEY BASICS</strong></p>\n<p align=\"center\"><strong>I USE THE PULLBACK STRATEGY TO ENTER AND I LIKE SWING AND LONGER-TERM TRADES (WHEN POSSIBLE)</strong></p>\nWhilst upon first look, it may appear that the Premium Service is directed solely at new traders, or those with intermediate skill levels. Please note this is not my intention. Trading can be lonely, and sometimes it is good to feel that you are part of a team. With this in mind, I am thinking that a “Chat Room” style area would be of benefit to all traders to share ideas and trade set-ups. Plus, whether a new or experienced trader it is always good to have library of information available close at hand.\n\nWhat are the subscription costs?\n\nThere will be 40 weekly blogs / issues per year. I will not write in the summer and over Christmas periods. There will be an unlimited amount of Twitter follow-ups to the exclusive subscribers only. There will also be a Twitter secure feed during the week to review and act upon “FLASH, RADAR and FUNDAMENTAL trades” and issues emanating from previous blogs.\n\nIn addition trade ideas for trades already in play would also be part of the service, as I will be trading my own trade recommendations.\n\nFinally, I do not want to become a finance administrator on a daily basis so I want to keep the subscription options as few as possible.\n<p align=\"center\"><b> </b></p>\n<p align=\"center\"><b>ANNUAL (40 WEEK) SUBSCRIPTION: $750.00 (this equates to $18.75 per week) </b></p>\n<p align=\"center\"><b>20 WEEKS SUBSCRIPTION: $450.00 (this equates to $22.50 per week)  </b></p>\n<p align=\"center\"><b>10 WEEKS SUBSCRIPTION: $250.00 (this equates to $25.00 per week) </b></p>\n<p align=\"center\"><b>(ALL FEES ARE IN USD)</b></p>\n&nbsp;\n\nIf you like what you have just read. Please click on the “SUBSCRIBE” link at the top of the welcome page to the WEEKLY FX DRIVE-THRU at <a href=\"http://www.thepipaccumulator.com\">www.thepipaccumulator.com</a>. It is very straightforward to register.\n\nAs soon as you have made the payment…. PLEASE CLICK ON THE LINK IMMEDIATELY AND REGISTER.\n\nWhen the registration process is complete and, within 24 hours, you will receive an email from me confirming everything and welcoming you onboard so to speak.\n\nShould you have any queries or encounter problems whilst trying to subscribe please contact me on the following email: -\n<p align=\"center\"><b><span style=\"text-decoration: underline;\">premiumservice@weeklyfxdrivethru.com</span></b></p>\n<b><span style=\"text-decoration: underline;\">4. MY CURRENT LIVE TRADES:</span></b>\n\nFLASH TRADES:\n\nIn view of the U.S. holiday weekend when Monday’s U.S. market is closed, I wanted to limit my open exposure. I decided to leave the USD/CAD open, primarily because it just is not pulling back, retracements have been very small and it looks very, very bullish to me.\n<p style=\"text-align: center;\"><strong>REFERENCE #:</strong><strong>FT08</strong></p>\n<p style=\"text-align: center;\"><strong>PAIR: USD/CAD</strong>\n<strong>LONG /SHORT: LONG</strong>\n<strong>ENTRY / COST AVERAGE: 0.1.0966</strong>\n<strong>TRADE SIZE: 20%</strong>\n<strong>STOP LOSS: 0.1.0840</strong>\n<strong>TARGET / LIMIT: 1.1250</strong>\n<strong>WEEKLY CLOSING PRICE: 1.0959</strong>\n<strong>PRESENT POSITION: -7 pips</strong></p>\n<b><span style=\"text-decoration: underline;\">5. TRADES THAT ARE ON MY RADAR:</span></b>\n\nI have no trades on my radar in view of the U.S. holidays.\n\nOver the weekend and on Monday, I will Tweet any set-ups to PREMIUM SERVICE subscribers only.\n\n&nbsp;\n\n<b><span style=\"text-decoration: underline;\">6. LOOKING FORWARD…THE KEY SUPPORT &amp; RESISTANCE LEVELS WITH THE USD MAJORS:</span></b>\n\n<b>EUR/USD: Closing Price 1.3540.</b>  We ended the week below the absolutely critical level of 1.3550. We may be just below, but the 1.3550 level was a bullish / bearish line in the sand. From here I think we head lower towards 1.3400. Should the EUR about turn and break higher - 1.3650 will be the resistance level to look out for.\n\n<b>GBP/USD: Closing Price 1.6420.  </b>Cable came back from the dead yesterday (Friday) after the release of stellar Retail Sales data. We were approaching 1.6300 and broke higher towards 1.6470. Moving forward, 1.6500 offers are a great place to enter short and support should be seen once more at 1.6310.<b> </b>\n\n<b>AUD/USD: Closing Price 0.8777</b>.  We are now firmly dropping towards the RBS Stevens level of 0.8500. This pair has been trading so heavy recently; there is no bounce to be seen. The next level of support lies at 0.8710 and resistance is 0.8820.\n\n<b>NZD/USD: Closing Price 0.8240</b>.  We are just below 0.8250. Yesterday (Friday), I thought that a break below this figure would send us flying towards 0.8200. Now I am not that certain. I am looking at a range between 0.8200 and 0.8320.\n\n<b>USD/CAD: Closing Price 1.0959.  </b>We are breaking out. For the past couple of days we have been consolidating the overbought data linked to the pair. Big resistance lies at 1.1000 and support is good at 1.0850.\n\n<b>USD/CHF: Closing Price 0.9097</b>.  On the upside 0.9130 holds the key to resistance. Support is good at 0.9020 and below there 0.8950.\n\n<b>USD/JPY: Closing Price 104.23. </b> Not much of a change week over week in the closing price. I still think that this pair is going to 110.00 and above this year, but first I think l we test lower levels first. Calls of maybe 98.00 sound a bit low from my perspective but never say never. In this coming week the range that interests me is 103.50 to 105.50.\n\n&nbsp;\n\n<b><span style=\"text-decoration: underline;\">7. MAJOR FOREX NEWS THIS WEEK THAT INTERESTS ME:</span></b>\n\nSUNDAY: N/A\n\nMONDAY: NZD – CPi.\n\nTUESDAY: AUD – CPi.\n\nWEDNESDAY: GBP – Unemployment Numbers and % rates.\nWEDNESDAY: CAD – BOC Rate Statement, Press Conference.\nWEDNESDAY: CNY – HSBC Flash Manufacturing PMi.\n\nTHURSDAY: CAD – Core Retail Sales.\n\nFRIDAY: CAD – Core CPi.\n\n<b><span style=\"text-decoration: underline;\"> </span></b>\n\n<b><span style=\"text-decoration: underline;\">9. FINAL THOUGHTS:</span></b>\n\nThis will be last WEEKLY FX DRIVE-THRU in its current format. It’s all change from next Monday.\n\nFor those moving to the PREMIUM SERVICE, I really hope that you get the most value from it that you can. For those staying with “THE DRIVE-THRU” take care with your trades. Do not overstretch your account by pushing risk.\n\nGood luck and trade within your TRADE PLAN guidelines and most importantly use MONEY MANGEMENT SKILLS to control your risks.\n\nScott Pickering\nThe Pip Accumulator\nSaturday January 18<sup>th</sup> 2014\n\nEMAIL / FOLLOW ME AT:\ndrivethru@weeklyfxdrivethru.com\nTwitter: @pipaccumulator\n<span style=\"line-height: 1.5em;\">Google+/scottpickering\n</span><span style=\"line-height: 1.5em;\">StockTwits; thepipaccumulator</span>\n\n&nbsp;','THE PREMIUM SERVICE IS NOW OPEN AND READY FOR SUBSCRIBERS','','inherit','open','closed','','3042-autosave-v1','','','2014-01-22 18:03:04','2014-01-22 23:03:04','',3042,'https://weeklyfxdrivethru.com/3042-autosave-v1/',0,'revision','',0),(3131,16,'2014-01-22 18:17:57','2014-01-22 23:17:57','<h2>1. INTRODUCTION:</h2>\n\nAfter several hectic weeks, I am now pleased to say that with immediate effect the new PREMIUM SERVICE subscriber based option is ready to launch. You can sign up now from the “Log-in” area on the WEEKLY FX DRIVE-THRU. It is a straightforward process all you require is a PayPal account from which to choose the subscription level that you want. I will cover the features and benefits of the PREMIUM SERVICE later in this blog\n\nIt was a very interesting week of trading in the Forex market. The Non-Farm payroll miss on 10<sup>th</sup> January was a disaster for the USD and the “hangover effect” of the data miss rolled over into Monday of the following week. This created havoc with my RADAR trades and levels were being triggered like crazy and pivots that I had alarmed were hit very frequently with the market volatility. I had one morning where I “fat fingered” trades and closed all positions instead of just one…a complete disaster.\n\nI cancelled all outstanding RADAR trades and started again. The last three days of the weeks trading was excellent from a cash reward perspective and I closed out of all positions bar one as we headed into a U.S. holiday weekend.\n\nAs I have written several times (to say the least) over the past two years, I will NOT chase trades. It is a fantastic discipline to have even though at times you miss some tremendous moves, like this past week, the AUD/USD big short move plus the GBP/AUD and EUR/AUD huge upside moves. The total - about 800 pips…yikes. However, in the long run overall, it balances out because breakouts or breakdowns can be false and you can get well stung.\n\n<h2>2. RADAR AND FLASH TRADES TRADING SUMMARY:</h2>\n<p align=\"center\"><b><span style=\"text-decoration: underline;\">JANUARY 2014 and YEAR to date:</span></b></p>\nFrom now on, to take advantage of all the trade set-ups you will need to be a PREMIUM SERVICE subscriber.\n\nI have included below, excel spreadsheets for FLASH and RADAR trades trading styles that I refer to when I am “tweeting”, using Google+ or any other social network.\n\nRADAR TRADES: These are pre-meditated limit order trades. I hope that these will be longer-term trades.\n\nFLASH TRADES: These are more of an intra-day trade. They may develop into “Swing style” trades but will probably be more short term.\n\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/01/RADAR-TRADES-1-18012014.png\"><img class=\"aligncenter size-full wp-image-3035\" alt=\"RADAR TRADES 1 - 18012014\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/01/RADAR-TRADES-1-18012014.png\" width=\"532\" height=\"477\" /></a>\n\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/01/RADAR-TRADES-2-18012014.png\"><img class=\"aligncenter size-full wp-image-3036\" alt=\"RADAR TRADES 2 18012014\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/01/RADAR-TRADES-2-18012014.png\" width=\"532\" height=\"495\" /></a>\n\n\n<h3>PROFITS FROM SINGLE LOT COMPLETED RADAR TRADES:</h3>\n<h5>1 x MICRO-LOT:\n23 trades at $0.10 cents each = $2.30 cents risk for an $8.00 reward.</h5>\n<h5>1 x MINI-LOT:\n<span style=\"line-height: 1.5em;\">23 trades at $1.00 each = $23.00 risk for an $80.00 reward.</span></h5>\n<p align=\"center\">1 x STANDARD LOT:\n23 trades at $10.00 each = $230.00 risk for an $800.00 reward.</p>\n&nbsp;\n<p style=\"text-align: center;\"><a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/01/FLASH-TRADES-18012014.png\"><img class=\"aligncenter size-full wp-image-3037\" alt=\"FLASH TRADES 18012014\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/01/FLASH-TRADES-18012014.png\" width=\"469\" height=\"478\" /></a></p>\n<p align=\"center\"><b><span style=\"text-decoration: underline;\">PROFITS FROM SINGLE LOT COMPLETED FLASH TRADES</span></b></p>\n<p align=\"center\">1 x MICRO-LOT:\n10 trades at $0.10 cents each = $1.00 cents risk for a $15.10 reward.</p>\n<p align=\"center\">1 x MINI-LOT:\n10 trades at $1.00 each = $10.00 risk for a $151.00 reward</p>\n<p align=\"center\">1 x STANDARD LOT:\n10 trades at $10.00 each = $100.00 risk for a $1,510.00 reward</p>\n<p align=\"center\"><b><span style=\"text-decoration: underline;\"> </span></b></p>\n<p align=\"center\"><b><span style=\"text-decoration: underline;\">COMBINED FLASH AND RADAR TRADES PROFIT PERFORMANCE</span></b></p>\n<p align=\"center\"><b><span style=\"text-decoration: underline;\">JANUARY 2014…SO FAR:</span></b></p>\n<p align=\"center\">TRADING MICRO-LOTS:\n33 trades at $0.10 cents each = $3.30 risk for a $23.10 reward.</p>\n<p align=\"center\">TRADING MINI-LOTS:\n33 trades at $1.00 each = $33.00 risk for a $230.10 reward.</p>\n<p align=\"center\"> TRADING STANDARD LOTS:\n33 trades at $10.00 each = $330.00 risk for a $2,310.00 reward.</p>\nThe profitability examples detailed above are based solely upon single lot trading, regardless of lot type. If multiple lot sizes are traded the profitability margins will be different than those shown.\n\nJust remember, trades are of different sizes, added to, profits are taken along the way the cost average moves and all trades are of different lot styles. I trade, micro lots, mini lots and standard lots across my brokers. When the PREMIUM SERVICE starts I will add in three columns on these excel sheets to indicate what lot style I am trading on the various set ups.\n\n&nbsp;\n\n<b><span style=\"text-decoration: underline;\">3. DETAILS OF THE PREMIUM SERVICE\n</span></b>\n\nFrom today you are able to login and register for the PREMIUM SERVICE on the welcome page of the WEEKLY FX DRIVE-THRU.\n\nIn the past few weeks I have written several times about some of the changes to be expected when the PREMIUM SERVICE launches and I have been asked what stays with the free to subscribe WEEKLY FX DRIVE-THRU and what will be the new content and format of the PREMIUM SERVICE.\n\nI am hoping that the following extended version will answer all of the questions.\n\nFor those people reading about the PREMIUM SERVICE for the first time, I hope that you find the following informative, exciting and something that you want to be part of.\n\nFirstly, the PREMIUM SERVICE is a subscriber only addition to The Weekly Fx Drive-Thru.\n\nWhat are the differences between the WEEKLY FX DRIVE-THRU and the PREMIUM SERVICE?\n\nThe most obvious difference will be that all FLASH and RADAR trade set-ups plus anything I deem to be exclusive will be available to PREMIUM SERVICE subscribers. It will be a 24x5 service, in line with my sleeping habits that is!\n\nWhy two trade types and what do they mean?\n\nRADAR TRADES are based on areas of support and resistance. This is where in my opinion we are at points of interest when buying and selling pressures converge and increase and I believe that buyers or sellers will be more active to move the currency pair more often than not in the opposite direction.\n\nFLASH TRADES are intra-day trades that I take on the “Pullback Strategy”, these tend to be more scalping trades but they can evolve into swing trade set-ups.\n\nAll trade set-ups that I flag and that I subsequently enter will be measured via an excel spreadsheet within the PREMIUM SERVICE blog each week. The status of each open trade will be updated daily in the PREMIUM SERVICE subscriber area of my website.\n\nMost importantly, PREMIUM SERVICE subscribers will also have access to a secure Twitter account that will contain all the FLASH and RADAR trades set-ups, entries and exits. Details of how to connect to this Twitter account will be included in my welcome letter after your subscription has been completed.\n\nIn addition to FLASH and RADAR trades trading history, the subscriber area will contain as much support information that I can gather that is of use for trading profitably. The support pages areas will increase so that it becomes a one-stop point of reference for all styles and types of traders regardless of experience.\n\nI am hoping to have a chat room so that subscribers and myself can chat live about potential live trades. In addition, if the number of participants is economically viable, I will hold webinars on trading issues.\n\nFrom the visual perspective of the blogs that are posted, what will the differences be between the WEEKLY FX DRIVE-THRU and the PREMIUM SERVICE?\n\nThe present / usual format of the WEEKLY FX DRIVE-THRU is as follows: -\n<ol>\n	<li>INTRODUCTION.</li>\n	<li>TRADE SUMMARY (FLASH and RADAR trades).</li>\n	<li>VIEW FROM MY DESK – My comment on the markets etc.</li>\n	<li>MY CURRENT / EXISTING LIVE TRADES.</li>\n	<li>WHAT’S ON MY RADAR? (RADAR TRADE SET-UPS).</li>\n	<li>LOOKING AHEAD  - USD MAJORS (support and resistance levels).</li>\n	<li>NEWS EVENTS IN THE COMING WEEK THAT INTEREST ME.</li>\n	<li>FINAL THOUGHTS and COMMENTS.</li>\n</ol>\nItems 1, 2, 6, 7 and 8 will be the format for the “Free” blog moving forward.\n\nThe format for the PREMIUM SERVICE will be as follows: -\n<ol>\n	<li>INTRODUCTION.</li>\n	<li>TRADE SUMMARY (FLASH, RADAR and FUNDAMENTAL trades).</li>\n	<li>THE FUNDAMENTAL TRADERS OVERVIEW.\n(This will be my comments on the macro level views I have at the time)</li>\n	<li>TRADERS TOPICS.\n(I have promised several readers that at least once each month I will post a response to questions raised about trading in the feedback sections and from direct email).</li>\n	<li>MY CURRENT / EXISTING LIVE TRADES.</li>\n	<li>THE TRADING STRATEGY.\n(My trading style will be opened up in the coming weeks / months. This section in conjunction with the FUNDAMENTAL OVERVIEW section will detail not just the daily and weekly RADAR trade set-ups based around high interest levels of buying and selling, but it will include my FUNDAMENTAL trade set-ups that so far I have never tweeted or talked about).</li>\n	<li>LOOKING AHEAD  - USD MAJORS (support and resistance levels).</li>\n	<li>NEWS EVENTS IN THE COMING WEEK THAT INTEREST ME.</li>\n	<li>FINAL THOUGHTS and COMMENTS.</li>\n</ol>\nAs referred to above, here is a list of potential topics for the PREMIUM SERVICE blog under TRADER TOPICS or maybe for a future webinar: -\n<p align=\"center\"><b>Placing Stops</b>\n<b>Strategies on when to enter and exit trades</b>\n<b>Working with a Trade Plan and</b> <b>what is a Trade Plan?</b>\n<b>Risk Assessment</b>\n<b>When to fade trades</b>\n<b>How to cost average effectively</b>\n<b>How to use Trade Zones effectively - Buy Zones and Sell zones</b>\n<b>Working with Fibonacci levels</b>\n<b>How to find a good broker to partner with</b>\n<b>Basic Chart analysis</b></p>\nThe PREMIUM SERVICE will evolve as it moves forward. I have lots of ideas to integrate into this area, but I am also open to ideas from readers / followers and subscribers.\n\nThis is a very important step for me as well; I want the PREMIUM SERVICE to be different to other similar services currently available.\n\nI trade currencies to make money.\n\nWhilst I like the idea of longer-term trading, if the market looks false to me I will cut profitable trades and bank money. I am not looking for the glory of three/four week trades to show I have nerves of steel to make +300 pips or so. If I can make 300 pips from three or four 24/48-hour trades instead, who cares. It’s all about banking profits and minimizing risk. Having said that I do have my longer-term FUNDAMENTAL trades (as I call them).\n\nI will have a balance of intra-day, swing and long term trades. It is your choice to pick what you want to take and what to risk. I am a low-risk very conservative trader.\n<p align=\"center\"><strong>FUNDAMENTALS MATTER TO ME</strong></p>\n<p align=\"center\"><strong>I TRADE TO MAKE MONEY…NOT TO PICK TOPS OR BOTTOMS</strong></p>\n<p align=\"center\"><strong>I TRADE LOW RISK</strong></p>\n<p align=\"center\"><strong>I DO NOT CHASE MARKETS</strong></p>\n<p align=\"center\"><strong>I LIKE THE TRADES TO COME TO ME</strong></p>\n<p align=\"center\"><strong>I AM NOT A GREEDY TRADER</strong></p>\n<p align=\"center\"><strong>I LIKE TO TRADE MOMENTUMS IN THE DIRECTION OF TRENDS</strong></p>\n<p align=\"center\"><strong>I USE FIBONACCI LEVELS TO ENTER &amp; EXIT ON MANY TRADES</strong><strong> </strong></p>\n<p align=\"center\"><strong>PLUS</strong></p>\n<p align=\"center\"><strong>MY TRADING STYLE IS MIXED EVEN WITH THE ABOVE KEY BASICS</strong></p>\n<p align=\"center\"><strong>I USE THE PULLBACK STRATEGY TO ENTER AND I LIKE SWING AND LONGER-TERM TRADES (WHEN POSSIBLE)</strong></p>\nWhilst upon first look, it may appear that the Premium Service is directed solely at new traders, or those with intermediate skill levels. Please note this is not my intention. Trading can be lonely, and sometimes it is good to feel that you are part of a team. With this in mind, I am thinking that a “Chat Room” style area would be of benefit to all traders to share ideas and trade set-ups. Plus, whether a new or experienced trader it is always good to have library of information available close at hand.\n\nWhat are the subscription costs?\n\nThere will be 40 weekly blogs / issues per year. I will not write in the summer and over Christmas periods. There will be an unlimited amount of Twitter follow-ups to the exclusive subscribers only. There will also be a Twitter secure feed during the week to review and act upon “FLASH, RADAR and FUNDAMENTAL trades” and issues emanating from previous blogs.\n\nIn addition trade ideas for trades already in play would also be part of the service, as I will be trading my own trade recommendations.\n\nFinally, I do not want to become a finance administrator on a daily basis so I want to keep the subscription options as few as possible.\n<p align=\"center\"><b> </b></p>\n<p align=\"center\"><b>ANNUAL (40 WEEK) SUBSCRIPTION: $750.00 (this equates to $18.75 per week) </b></p>\n<p align=\"center\"><b>20 WEEKS SUBSCRIPTION: $450.00 (this equates to $22.50 per week)  </b></p>\n<p align=\"center\"><b>10 WEEKS SUBSCRIPTION: $250.00 (this equates to $25.00 per week) </b></p>\n<p align=\"center\"><b>(ALL FEES ARE IN USD)</b></p>\n&nbsp;\n\nIf you like what you have just read. Please click on the “SUBSCRIBE” link at the top of the welcome page to the WEEKLY FX DRIVE-THRU at <a href=\"http://www.thepipaccumulator.com\">www.thepipaccumulator.com</a>. It is very straightforward to register.\n\nAs soon as you have made the payment…. PLEASE CLICK ON THE LINK IMMEDIATELY AND REGISTER.\n\nWhen the registration process is complete and, within 24 hours, you will receive an email from me confirming everything and welcoming you onboard so to speak.\n\nShould you have any queries or encounter problems whilst trying to subscribe please contact me on the following email: -\n<p align=\"center\"><b><span style=\"text-decoration: underline;\">premiumservice@weeklyfxdrivethru.com</span></b></p>\n<b><span style=\"text-decoration: underline;\">4. MY CURRENT LIVE TRADES:</span></b>\n\nFLASH TRADES:\n\nIn view of the U.S. holiday weekend when Monday’s U.S. market is closed, I wanted to limit my open exposure. I decided to leave the USD/CAD open, primarily because it just is not pulling back, retracements have been very small and it looks very, very bullish to me.\n<p style=\"text-align: center;\"><strong>REFERENCE #:</strong><strong>FT08</strong></p>\n<p style=\"text-align: center;\"><strong>PAIR: USD/CAD</strong>\n<strong>LONG /SHORT: LONG</strong>\n<strong>ENTRY / COST AVERAGE: 0.1.0966</strong>\n<strong>TRADE SIZE: 20%</strong>\n<strong>STOP LOSS: 0.1.0840</strong>\n<strong>TARGET / LIMIT: 1.1250</strong>\n<strong>WEEKLY CLOSING PRICE: 1.0959</strong>\n<strong>PRESENT POSITION: -7 pips</strong></p>\n<b><span style=\"text-decoration: underline;\">5. TRADES THAT ARE ON MY RADAR:</span></b>\n\nI have no trades on my radar in view of the U.S. holidays.\n\nOver the weekend and on Monday, I will Tweet any set-ups to PREMIUM SERVICE subscribers only.\n\n&nbsp;\n\n<b><span style=\"text-decoration: underline;\">6. LOOKING FORWARD…THE KEY SUPPORT &amp; RESISTANCE LEVELS WITH THE USD MAJORS:</span></b>\n\n<b>EUR/USD: Closing Price 1.3540.</b>  We ended the week below the absolutely critical level of 1.3550. We may be just below, but the 1.3550 level was a bullish / bearish line in the sand. From here I think we head lower towards 1.3400. Should the EUR about turn and break higher - 1.3650 will be the resistance level to look out for.\n\n<b>GBP/USD: Closing Price 1.6420.  </b>Cable came back from the dead yesterday (Friday) after the release of stellar Retail Sales data. We were approaching 1.6300 and broke higher towards 1.6470. Moving forward, 1.6500 offers are a great place to enter short and support should be seen once more at 1.6310.<b> </b>\n\n<b>AUD/USD: Closing Price 0.8777</b>.  We are now firmly dropping towards the RBS Stevens level of 0.8500. This pair has been trading so heavy recently; there is no bounce to be seen. The next level of support lies at 0.8710 and resistance is 0.8820.\n\n<b>NZD/USD: Closing Price 0.8240</b>.  We are just below 0.8250. Yesterday (Friday), I thought that a break below this figure would send us flying towards 0.8200. Now I am not that certain. I am looking at a range between 0.8200 and 0.8320.\n\n<b>USD/CAD: Closing Price 1.0959.  </b>We are breaking out. For the past couple of days we have been consolidating the overbought data linked to the pair. Big resistance lies at 1.1000 and support is good at 1.0850.\n\n<b>USD/CHF: Closing Price 0.9097</b>.  On the upside 0.9130 holds the key to resistance. Support is good at 0.9020 and below there 0.8950.\n\n<b>USD/JPY: Closing Price 104.23. </b> Not much of a change week over week in the closing price. I still think that this pair is going to 110.00 and above this year, but first I think l we test lower levels first. Calls of maybe 98.00 sound a bit low from my perspective but never say never. In this coming week the range that interests me is 103.50 to 105.50.\n\n&nbsp;\n\n<b><span style=\"text-decoration: underline;\">7. MAJOR FOREX NEWS THIS WEEK THAT INTERESTS ME:</span></b>\n\nSUNDAY: N/A\n\nMONDAY: NZD – CPi.\n\nTUESDAY: AUD – CPi.\n\nWEDNESDAY: GBP – Unemployment Numbers and % rates.\nWEDNESDAY: CAD – BOC Rate Statement, Press Conference.\nWEDNESDAY: CNY – HSBC Flash Manufacturing PMi.\n\nTHURSDAY: CAD – Core Retail Sales.\n\nFRIDAY: CAD – Core CPi.\n\n<b><span style=\"text-decoration: underline;\"> </span></b>\n\n<b><span style=\"text-decoration: underline;\">9. FINAL THOUGHTS:</span></b>\n\nThis will be last WEEKLY FX DRIVE-THRU in its current format. It’s all change from next Monday.\n\nFor those moving to the PREMIUM SERVICE, I really hope that you get the most value from it that you can. For those staying with “THE DRIVE-THRU” take care with your trades. Do not overstretch your account by pushing risk.\n\nGood luck and trade within your TRADE PLAN guidelines and most importantly use MONEY MANGEMENT SKILLS to control your risks.\n\nScott Pickering\nThe Pip Accumulator\nSaturday January 18<sup>th</sup> 2014\n\nEMAIL / FOLLOW ME AT:\ndrivethru@weeklyfxdrivethru.com\nTwitter: @pipaccumulator\n<span style=\"line-height: 1.5em;\">Google+/scottpickering\n</span><span style=\"line-height: 1.5em;\">StockTwits; thepipaccumulator</span>\n\n&nbsp;','THE PREMIUM SERVICE IS NOW OPEN AND READY FOR SUBSCRIBERS','','inherit','open','closed','','3042-revision-v1','','','2014-01-22 18:17:57','2014-01-22 23:17:57','',3042,'https://weeklyfxdrivethru.com/3042-revision-v1/',0,'revision','',0),(3127,16,'2014-01-22 16:01:15','2014-01-22 21:01:15','18.01.2014\r\n\r\n<b><span style=\"text-decoration: underline;\">1. INTRODUCTION:</span></b>\r\n\r\nAfter several hectic weeks, I am now pleased to say that with immediate effect the new PREMIUM SERVICE subscriber based option is ready to launch. You can sign up now from the “Log-in” area on the WEEKLY FX DRIVE-THRU. It is a straightforward process all you require is a PayPal account from which to choose the subscription level that you want. I will cover the features and benefits of the PREMIUM SERVICE later in this blog\r\n\r\nIt was a very interesting week of trading in the Forex market. The Non-Farm payroll miss on 10<sup>th</sup> January was a disaster for the USD and the “hangover effect” of the data miss rolled over into Monday of the following week. This created havoc with my RADAR trades and levels were being triggered like crazy and pivots that I had alarmed were hit very frequently with the market volatility. I had one morning where I “fat fingered” trades and closed all positions instead of just one…a complete disaster.\r\n\r\nI cancelled all outstanding RADAR trades and started again. The last three days of the weeks trading was excellent from a cash reward perspective and I closed out of all positions bar one as we headed into a U.S. holiday weekend.\r\n\r\nAs I have written several times (to say the least) over the past two years, I will NOT chase trades. It is a fantastic discipline to have even though at times you miss some tremendous moves, like this past week, the AUD/USD big short move plus the GBP/AUD and EUR/AUD huge upside moves. The total - about 800 pips…yikes. However, in the long run overall, it balances out because breakouts or breakdowns can be false and you can get well stung.\r\n\r\n<b><span style=\"text-decoration: underline;\">2. RADAR AND FLASH TRADES TRADING SUMMARY:</span></b>\r\n<p align=\"center\"><b><span style=\"text-decoration: underline;\">JANUARY 2014 and YEAR to date:</span></b></p>\r\nFrom now on, to take advantage of all the trade set-ups you will need to be a PREMIUM SERVICE subscriber.\r\n\r\nI have included below, excel spreadsheets for FLASH and RADAR trades trading styles that I refer to when I am “tweeting”, using Google+ or any other social network.\r\n\r\nRADAR TRADES: These are pre-meditated limit order trades. I hope that these will be longer-term trades.\r\n\r\nFLASH TRADES: These are more of an intra-day trade. They may develop into “Swing style” trades but will probably be more short term.\r\n\r\n&nbsp;\r\n<p align=\"center\"><b><span style=\"text-decoration: underline;\"> <a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/01/RADAR-TRADES-1-18012014.png\"><img class=\"aligncenter size-full wp-image-3035\" alt=\"RADAR TRADES 1 - 18012014\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/01/RADAR-TRADES-1-18012014.png\" width=\"532\" height=\"477\" /></a></span></b></p>\r\n<p align=\"center\"><a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/01/RADAR-TRADES-2-18012014.png\"><img class=\"aligncenter size-full wp-image-3036\" alt=\"RADAR TRADES 2 18012014\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/01/RADAR-TRADES-2-18012014.png\" width=\"532\" height=\"495\" /></a></p>\r\n<p align=\"center\"><b><span style=\"text-decoration: underline;\">PROFITS FROM SINGLE LOT COMPLETED RADAR TRADES:</span></b></p>\r\n<p align=\"center\">1 x MICRO-LOT:\r\n23 trades at $0.10 cents each = $2.30 cents risk for an $8.00 reward.</p>\r\n<p align=\"center\">1 x MINI-LOT:\r\n<span style=\"line-height: 1.5em;\">23 trades at $1.00 each = $23.00 risk for an $80.00 reward.</span></p>\r\n<p align=\"center\">1 x STANDARD LOT:\r\n23 trades at $10.00 each = $230.00 risk for an $800.00 reward.</p>\r\n&nbsp;\r\n<p style=\"text-align: center;\"><a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/01/FLASH-TRADES-18012014.png\"><img class=\"aligncenter size-full wp-image-3037\" alt=\"FLASH TRADES 18012014\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/01/FLASH-TRADES-18012014.png\" width=\"469\" height=\"478\" /></a></p>\r\n<p align=\"center\"><b><span style=\"text-decoration: underline;\">PROFITS FROM SINGLE LOT COMPLETED FLASH TRADES</span></b></p>\r\n<p align=\"center\">1 x MICRO-LOT:\r\n10 trades at $0.10 cents each = $1.00 cents risk for a $15.10 reward.</p>\r\n<p align=\"center\">1 x MINI-LOT:\r\n10 trades at $1.00 each = $10.00 risk for a $151.00 reward</p>\r\n<p align=\"center\">1 x STANDARD LOT:\r\n10 trades at $10.00 each = $100.00 risk for a $1,510.00 reward</p>\r\n<p align=\"center\"><b><span style=\"text-decoration: underline;\"> </span></b></p>\r\n<p align=\"center\"><b><span style=\"text-decoration: underline;\">COMBINED FLASH AND RADAR TRADES PROFIT PERFORMANCE</span></b></p>\r\n<p align=\"center\"><b><span style=\"text-decoration: underline;\">JANUARY 2014…SO FAR:</span></b></p>\r\n<p align=\"center\">TRADING MICRO-LOTS:\r\n33 trades at $0.10 cents each = $3.30 risk for a $23.10 reward.</p>\r\n<p align=\"center\">TRADING MINI-LOTS:\r\n33 trades at $1.00 each = $33.00 risk for a $230.10 reward.</p>\r\n<p align=\"center\"> TRADING STANDARD LOTS:\r\n33 trades at $10.00 each = $330.00 risk for a $2,310.00 reward.</p>\r\nThe profitability examples detailed above are based solely upon single lot trading, regardless of lot type. If multiple lot sizes are traded the profitability margins will be different than those shown.\r\n\r\nJust remember, trades are of different sizes, added to, profits are taken along the way the cost average moves and all trades are of different lot styles. I trade, micro lots, mini lots and standard lots across my brokers. When the PREMIUM SERVICE starts I will add in three columns on these excel sheets to indicate what lot style I am trading on the various set ups.\r\n\r\n&nbsp;\r\n\r\n<b><span style=\"text-decoration: underline;\">3. DETAILS OF THE PREMIUM SERVICE\r\n</span></b>\r\n\r\nFrom today you are able to login and register for the PREMIUM SERVICE on the welcome page of the WEEKLY FX DRIVE-THRU.\r\n\r\nIn the past few weeks I have written several times about some of the changes to be expected when the PREMIUM SERVICE launches and I have been asked what stays with the free to subscribe WEEKLY FX DRIVE-THRU and what will be the new content and format of the PREMIUM SERVICE.\r\n\r\nI am hoping that the following extended version will answer all of the questions.\r\n\r\nFor those people reading about the PREMIUM SERVICE for the first time, I hope that you find the following informative, exciting and something that you want to be part of.\r\n\r\nFirstly, the PREMIUM SERVICE is a subscriber only addition to The Weekly Fx Drive-Thru.\r\n\r\nWhat are the differences between the WEEKLY FX DRIVE-THRU and the PREMIUM SERVICE?\r\n\r\nThe most obvious difference will be that all FLASH and RADAR trade set-ups plus anything I deem to be exclusive will be available to PREMIUM SERVICE subscribers. It will be a 24x5 service, in line with my sleeping habits that is!\r\n\r\nWhy two trade types and what do they mean?\r\n\r\nRADAR TRADES are based on areas of support and resistance. This is where in my opinion we are at points of interest when buying and selling pressures converge and increase and I believe that buyers or sellers will be more active to move the currency pair more often than not in the opposite direction.\r\n\r\nFLASH TRADES are intra-day trades that I take on the “Pullback Strategy”, these tend to be more scalping trades but they can evolve into swing trade set-ups.\r\n\r\nAll trade set-ups that I flag and that I subsequently enter will be measured via an excel spreadsheet within the PREMIUM SERVICE blog each week. The status of each open trade will be updated daily in the PREMIUM SERVICE subscriber area of my website.\r\n\r\nMost importantly, PREMIUM SERVICE subscribers will also have access to a secure Twitter account that will contain all the FLASH and RADAR trades set-ups, entries and exits. Details of how to connect to this Twitter account will be included in my welcome letter after your subscription has been completed.\r\n\r\nIn addition to FLASH and RADAR trades trading history, the subscriber area will contain as much support information that I can gather that is of use for trading profitably. The support pages areas will increase so that it becomes a one-stop point of reference for all styles and types of traders regardless of experience.\r\n\r\nI am hoping to have a chat room so that subscribers and myself can chat live about potential live trades. In addition, if the number of participants is economically viable, I will hold webinars on trading issues.\r\n\r\nFrom the visual perspective of the blogs that are posted, what will the differences be between the WEEKLY FX DRIVE-THRU and the PREMIUM SERVICE?\r\n\r\nThe present / usual format of the WEEKLY FX DRIVE-THRU is as follows: -\r\n<ol>\r\n	<li>INTRODUCTION.</li>\r\n	<li>TRADE SUMMARY (FLASH and RADAR trades).</li>\r\n	<li>VIEW FROM MY DESK – My comment on the markets etc.</li>\r\n	<li>MY CURRENT / EXISTING LIVE TRADES.</li>\r\n	<li>WHAT’S ON MY RADAR? (RADAR TRADE SET-UPS).</li>\r\n	<li>LOOKING AHEAD  - USD MAJORS (support and resistance levels).</li>\r\n	<li>NEWS EVENTS IN THE COMING WEEK THAT INTEREST ME.</li>\r\n	<li>FINAL THOUGHTS and COMMENTS.</li>\r\n</ol>\r\nItems 1, 2, 6, 7 and 8 will be the format for the “Free” blog moving forward.\r\n\r\nThe format for the PREMIUM SERVICE will be as follows: -\r\n<ol>\r\n	<li>INTRODUCTION.</li>\r\n	<li>TRADE SUMMARY (FLASH, RADAR and FUNDAMENTAL trades).</li>\r\n	<li>THE FUNDAMENTAL TRADERS OVERVIEW.\r\n(This will be my comments on the macro level views I have at the time)</li>\r\n	<li>TRADERS TOPICS.\r\n(I have promised several readers that at least once each month I will post a response to questions raised about trading in the feedback sections and from direct email).</li>\r\n	<li>MY CURRENT / EXISTING LIVE TRADES.</li>\r\n	<li>THE TRADING STRATEGY.\r\n(My trading style will be opened up in the coming weeks / months. This section in conjunction with the FUNDAMENTAL OVERVIEW section will detail not just the daily and weekly RADAR trade set-ups based around high interest levels of buying and selling, but it will include my FUNDAMENTAL trade set-ups that so far I have never tweeted or talked about).</li>\r\n	<li>LOOKING AHEAD  - USD MAJORS (support and resistance levels).</li>\r\n	<li>NEWS EVENTS IN THE COMING WEEK THAT INTEREST ME.</li>\r\n	<li>FINAL THOUGHTS and COMMENTS.</li>\r\n</ol>\r\nAs referred to above, here is a list of potential topics for the PREMIUM SERVICE blog under TRADER TOPICS or maybe for a future webinar: -\r\n<p align=\"center\"><b>Placing Stops</b>\r\n<b>Strategies on when to enter and exit trades</b>\r\n<b>Working with a Trade Plan and</b> <b>what is a Trade Plan?</b>\r\n<b>Risk Assessment</b>\r\n<b>When to fade trades</b>\r\n<b>How to cost average effectively</b>\r\n<b>How to use Trade Zones effectively - Buy Zones and Sell zones</b>\r\n<b>Working with Fibonacci levels</b>\r\n<b>How to find a good broker to partner with</b>\r\n<b>Basic Chart analysis</b></p>\r\nThe PREMIUM SERVICE will evolve as it moves forward. I have lots of ideas to integrate into this area, but I am also open to ideas from readers / followers and subscribers.\r\n\r\nThis is a very important step for me as well; I want the PREMIUM SERVICE to be different to other similar services currently available.\r\n\r\nI trade currencies to make money.\r\n\r\nWhilst I like the idea of longer-term trading, if the market looks false to me I will cut profitable trades and bank money. I am not looking for the glory of three/four week trades to show I have nerves of steel to make +300 pips or so. If I can make 300 pips from three or four 24/48-hour trades instead, who cares. It’s all about banking profits and minimizing risk. Having said that I do have my longer-term FUNDAMENTAL trades (as I call them).\r\n\r\nI will have a balance of intra-day, swing and long term trades. It is your choice to pick what you want to take and what to risk. I am a low-risk very conservative trader.\r\n<p align=\"center\"><strong>FUNDAMENTALS MATTER TO ME</strong></p>\r\n<p align=\"center\"><strong>I TRADE TO MAKE MONEY…NOT TO PICK TOPS OR BOTTOMS</strong></p>\r\n<p align=\"center\"><strong>I TRADE LOW RISK</strong></p>\r\n<p align=\"center\"><strong>I DO NOT CHASE MARKETS</strong></p>\r\n<p align=\"center\"><strong>I LIKE THE TRADES TO COME TO ME</strong></p>\r\n<p align=\"center\"><strong>I AM NOT A GREEDY TRADER</strong></p>\r\n<p align=\"center\"><strong>I LIKE TO TRADE MOMENTUMS IN THE DIRECTION OF TRENDS</strong></p>\r\n<p align=\"center\"><strong>I USE FIBONACCI LEVELS TO ENTER &amp; EXIT ON MANY TRADES</strong><strong> </strong></p>\r\n<p align=\"center\"><strong>PLUS</strong></p>\r\n<p align=\"center\"><strong>MY TRADING STYLE IS MIXED EVEN WITH THE ABOVE KEY BASICS</strong></p>\r\n<p align=\"center\"><strong>I USE THE PULLBACK STRATEGY TO ENTER AND I LIKE SWING AND LONGER-TERM TRADES (WHEN POSSIBLE)</strong></p>\r\nWhilst upon first look, it may appear that the Premium Service is directed solely at new traders, or those with intermediate skill levels. Please note this is not my intention. Trading can be lonely, and sometimes it is good to feel that you are part of a team. With this in mind, I am thinking that a “Chat Room” style area would be of benefit to all traders to share ideas and trade set-ups. Plus, whether a new or experienced trader it is always good to have library of information available close at hand.\r\n\r\nWhat are the subscription costs?\r\n\r\nThere will be 40 weekly blogs / issues per year. I will not write in the summer and over Christmas periods. There will be an unlimited amount of Twitter follow-ups to the exclusive subscribers only. There will also be a Twitter secure feed during the week to review and act upon “FLASH, RADAR and FUNDAMENTAL trades” and issues emanating from previous blogs.\r\n\r\nIn addition trade ideas for trades already in play would also be part of the service, as I will be trading my own trade recommendations.\r\n\r\nFinally, I do not want to become a finance administrator on a daily basis so I want to keep the subscription options as few as possible.\r\n<p align=\"center\"><b> </b></p>\r\n<p align=\"center\"><b>ANNUAL (40 WEEK) SUBSCRIPTION: $750.00 (this equates to $18.75 per week) </b></p>\r\n<p align=\"center\"><b>20 WEEKS SUBSCRIPTION: $450.00 (this equates to $22.50 per week)  </b></p>\r\n<p align=\"center\"><b>10 WEEKS SUBSCRIPTION: $250.00 (this equates to $25.00 per week) </b></p>\r\n<p align=\"center\"><b>(ALL FEES ARE IN USD)</b></p>\r\n&nbsp;\r\n\r\nIf you like what you have just read. Please click on the “SUBSCRIBE” link at the top of the welcome page to the WEEKLY FX DRIVE-THRU at <a href=\"http://www.thepipaccumulator.com\">www.thepipaccumulator.com</a>. It is very straightforward to register.\r\n\r\nAs soon as you have made the payment…. PLEASE CLICK ON THE LINK IMMEDIATELY AND REGISTER.\r\n\r\nWhen the registration process is complete and, within 24 hours, you will receive an email from me confirming everything and welcoming you onboard so to speak.\r\n\r\nShould you have any queries or encounter problems whilst trying to subscribe please contact me on the following email: -\r\n<p align=\"center\"><b><span style=\"text-decoration: underline;\">premiumservice@weeklyfxdrivethru.com</span></b></p>\r\n<b><span style=\"text-decoration: underline;\">4. MY CURRENT LIVE TRADES:</span></b>\r\n\r\nFLASH TRADES:\r\n\r\nIn view of the U.S. holiday weekend when Monday’s U.S. market is closed, I wanted to limit my open exposure. I decided to leave the USD/CAD open, primarily because it just is not pulling back, retracements have been very small and it looks very, very bullish to me.\r\n<p style=\"text-align: center;\"><strong>REFERENCE #:</strong><strong>FT08</strong></p>\r\n<p style=\"text-align: center;\"><strong>PAIR: USD/CAD</strong>\r\n<strong>LONG /SHORT: LONG</strong>\r\n<strong>ENTRY / COST AVERAGE: 0.1.0966</strong>\r\n<strong>TRADE SIZE: 20%</strong>\r\n<strong>STOP LOSS: 0.1.0840</strong>\r\n<strong>TARGET / LIMIT: 1.1250</strong>\r\n<strong>WEEKLY CLOSING PRICE: 1.0959</strong>\r\n<strong>PRESENT POSITION: -7 pips</strong></p>\r\n<b><span style=\"text-decoration: underline;\">5. TRADES THAT ARE ON MY RADAR:</span></b>\r\n\r\nI have no trades on my radar in view of the U.S. holidays.\r\n\r\nOver the weekend and on Monday, I will Tweet any set-ups to PREMIUM SERVICE subscribers only.\r\n\r\n&nbsp;\r\n\r\n<b><span style=\"text-decoration: underline;\">6. LOOKING FORWARD…THE KEY SUPPORT &amp; RESISTANCE LEVELS WITH THE USD MAJORS:</span></b>\r\n\r\n<b>EUR/USD: Closing Price 1.3540.</b>  We ended the week below the absolutely critical level of 1.3550. We may be just below, but the 1.3550 level was a bullish / bearish line in the sand. From here I think we head lower towards 1.3400. Should the EUR about turn and break higher - 1.3650 will be the resistance level to look out for.\r\n\r\n<b>GBP/USD: Closing Price 1.6420.  </b>Cable came back from the dead yesterday (Friday) after the release of stellar Retail Sales data. We were approaching 1.6300 and broke higher towards 1.6470. Moving forward, 1.6500 offers are a great place to enter short and support should be seen once more at 1.6310.<b> </b>\r\n\r\n<b>AUD/USD: Closing Price 0.8777</b>.  We are now firmly dropping towards the RBS Stevens level of 0.8500. This pair has been trading so heavy recently; there is no bounce to be seen. The next level of support lies at 0.8710 and resistance is 0.8820.\r\n\r\n<b>NZD/USD: Closing Price 0.8240</b>.  We are just below 0.8250. Yesterday (Friday), I thought that a break below this figure would send us flying towards 0.8200. Now I am not that certain. I am looking at a range between 0.8200 and 0.8320.\r\n\r\n<b>USD/CAD: Closing Price 1.0959.  </b>We are breaking out. For the past couple of days we have been consolidating the overbought data linked to the pair. Big resistance lies at 1.1000 and support is good at 1.0850.\r\n\r\n<b>USD/CHF: Closing Price 0.9097</b>.  On the upside 0.9130 holds the key to resistance. Support is good at 0.9020 and below there 0.8950.\r\n\r\n<b>USD/JPY: Closing Price 104.23. </b> Not much of a change week over week in the closing price. I still think that this pair is going to 110.00 and above this year, but first I think l we test lower levels first. Calls of maybe 98.00 sound a bit low from my perspective but never say never. In this coming week the range that interests me is 103.50 to 105.50.\r\n\r\n&nbsp;\r\n\r\n<b><span style=\"text-decoration: underline;\">7. MAJOR FOREX NEWS THIS WEEK THAT INTERESTS ME:</span></b>\r\n\r\nSUNDAY: N/A\r\n\r\nMONDAY: NZD – CPi.\r\n\r\nTUESDAY: AUD – CPi.\r\n\r\nWEDNESDAY: GBP – Unemployment Numbers and % rates.\r\nWEDNESDAY: CAD – BOC Rate Statement, Press Conference.\r\nWEDNESDAY: CNY – HSBC Flash Manufacturing PMi.\r\n\r\nTHURSDAY: CAD – Core Retail Sales.\r\n\r\nFRIDAY: CAD – Core CPi.\r\n\r\n<b><span style=\"text-decoration: underline;\"> </span></b>\r\n\r\n<b><span style=\"text-decoration: underline;\">9. FINAL THOUGHTS:</span></b>\r\n\r\nThis will be last WEEKLY FX DRIVE-THRU in its current format. It’s all change from next Monday.\r\n\r\nFor those moving to the PREMIUM SERVICE, I really hope that you get the most value from it that you can. For those staying with “THE DRIVE-THRU” take care with your trades. Do not overstretch your account by pushing risk.\r\n\r\nGood luck and trade within your TRADE PLAN guidelines and most importantly use MONEY MANGEMENT SKILLS to control your risks.\r\n\r\nScott Pickering\r\nThe Pip Accumulator\r\nSaturday January 18<sup>th</sup> 2014\r\n\r\nEMAIL / FOLLOW ME AT:\r\ndrivethru@weeklyfxdrivethru.com\r\nTwitter: @pipaccumulator\r\n<span style=\"line-height: 1.5em;\">Google+/scottpickering\r\n</span><span style=\"line-height: 1.5em;\">StockTwits; thepipaccumulator</span>\r\n\r\n&nbsp;','THE PREMIUM SERVICE IS NOW OPEN AND READY FOR SUBSCRIBERS','','inherit','open','closed','','3042-revision-v1','','','2014-01-22 16:01:15','2014-01-22 21:01:15','',3042,'https://weeklyfxdrivethru.com/3042-revision-v1/',0,'revision','',0),(3128,1,'2016-08-31 10:16:40','2016-08-31 15:16:40','<section class=\"one-sixth first\">\n<h4>Flash Trades 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/2016/08/FLASH-AUG31-2016.png\"><img class=\"aligncenter size-full wp-image-8283\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/08/FLASH-AUG31-2016.png\" alt=\"FLASH AUG31 2016\" width=\"497\" height=\"635\" /></a></h2>\n&nbsp;\n\n&nbsp;\n\n&nbsp;\n\n&nbsp;\n\n</div>\n<div class=\"one-half\">\n<h2>Year to date\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/08/FLASH-YTD-AUG31-2016.png\"><img class=\"aligncenter size-full wp-image-8284\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/08/FLASH-YTD-AUG31-2016.png\" alt=\"FLASH YTD AUG31 2016\" width=\"420\" height=\"449\" /></a></h2>\n<h2>PREVIOUS YEARS\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>\n<h2><img class=\"aligncenter wp-image-4947\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/12/FLASH-YTD-31122014-.png\" alt=\"FLASH YTD 31122014\" width=\"509\" height=\"549\" /></h2>\n</div>\n</section>','Flash Trades','','inherit','open','closed','','2711-autosave-v1','','','2016-08-31 10:16:40','2016-08-31 15:16:40','',2711,'https://weeklyfxdrivethru.com/2711-autosave-v1/',0,'revision','',0),(3137,1,'2016-01-30 06:47:48','2016-01-30 11:47:48','<section class=\"one-sixth first\">\n<h4>Radar Trades Archives:</h4>\n</section><section class=\"five-sixths\">\n<div class=\"one-half first\">\n<h2>This Month\n<a href=\"https://weeklyfxdrivethru.com/radar1-jan16/\" rel=\"attachment wp-att-7200\"><img class=\"aligncenter size-full wp-image-7200\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2016/01/RADAR1-JAN16.png\" alt=\"RADAR1 JAN16\" width=\"513\" height=\"573\" /></a>\n\n<a href=\"https://weeklyfxdrivethru.com/radar2-jan16/\" rel=\"attachment wp-att-7201\"><img class=\"aligncenter size-full wp-image-7201\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2016/01/RADAR2-JAN16.png\" alt=\"RADAR2 JAN16\" width=\"488\" height=\"571\" /></a></h2>\n&nbsp;\n\n&nbsp;\n\n&nbsp;\n\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/06/RADAR1-15062014.png\">\n</a>\n\n</div>\n<div class=\"one-half\">\n<h2>Year to date\n<a href=\"https://weeklyfxdrivethru.com/radar-ytd-jan16/\" rel=\"attachment wp-att-7202\"><img class=\"aligncenter size-full wp-image-7202\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2016/01/RADAR-YTD-JAN16.png\" alt=\"RADAR YTD JAN16\" width=\"423\" height=\"452\" /></a></h2>\n&nbsp;\n\n&nbsp;\n<h2>PREVIOUS YEARS\n<a href=\"https://weeklyfxdrivethru.com/radar-trades/radar-2015-comp/\" rel=\"attachment wp-att-6985\"><img class=\"aligncenter size-full wp-image-6985\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/12/RADAR-2015-COMP.png\" alt=\"RADAR 2015 COMP\" width=\"429\" height=\"449\" /></a></h2>\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/12/RADAR-31122014-YTD.png\"><img class=\"aligncenter size-full wp-image-4953\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/12/RADAR-31122014-YTD.png\" alt=\"RADAR 31122014 YTD\" width=\"352\" height=\"376\" /></a>\n\n</div>\n</section>','Radar Trades','','inherit','open','closed','','2524-autosave-v1','','','2016-01-30 06:47:48','2016-01-30 11:47:48','',2524,'https://weeklyfxdrivethru.com/2524-autosave-v1/',0,'revision','',0),(3149,1,'2014-01-25 10:27:15','2014-01-25 15:27:15','25.01.2014\r\n<p style=\"text-align: left;\" align=\"center\"><b><span style=\"text-decoration: underline;\">1. INTRODUCTION:</span></b></p>\r\nLast week was a very interesting and very profitable week trading in the forex market.\r\n\r\nI could never have predicted the volatility. The Bank of Canada, China PMi and Eurozone PMi all had a part to play in the volatility. There were some mega moves, that I wouldn’t chase and frankly at the time I did not believe they were true moves.\r\n\r\nGreat money was made on big moves with the USD/CAD, EUR/CAD and GBP/CAD on Wednesday. NZD/CAD on Thursday/Friday and then on Friday BOE Carney spoke in London and GBP/CAD gave some profits back and EUR/CAD netted some profits to kind of hedge the “cables” losses.\r\n\r\nAre we now two or three days into the equity markets starting a pullback / correction? I make a few brief comments on this subject later in the blog.<b></b>\r\n\r\n<b><span style=\"text-decoration: underline;\"> </span></b>\r\n\r\n<b><span style=\"text-decoration: underline;\">2. RADAR, FLASH and FUNDAMENTAL TRADES - TRADING SUMMARY:</span></b>\r\n<p align=\"center\"><b><span style=\"text-decoration: underline;\">JANUARY 2014 and YEAR to date:</span></b></p>\r\nBelow I show the up to date excel spreadsheets for my various trading styles.\r\n\r\nThese trade set-ups are “Tweeted” directly to PREMIUM SERVICE subscribers to follow if they wish.\r\n\r\nThis week if you had traded the same mixture of Standard and Mini and Micro lot trades that I had, a three-year subscription would have been covered in three days! Not everyday can be the same but the potential is definitely there.\r\n\r\n&nbsp;\r\n<p align=\"center\"><b><span style=\"text-decoration: underline;\"><a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/01/RADAR-TRADES-1-25.01.2014.png\"><img class=\"aligncenter size-full wp-image-3144\" alt=\"RADAR TRADES 1 25.01.2014\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/01/RADAR-TRADES-1-25.01.2014.png\" width=\"536\" height=\"469\" /></a></span></b></p>\r\n<p align=\"center\"><b><span style=\"text-decoration: underline;\"> </span></b></p>\r\n<p style=\"text-align: center;\"><b><span style=\"text-decoration: underline;\"><a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/01/RADAR-TRADES-2-25.01.2014.png\"><img class=\"aligncenter size-full wp-image-3145\" alt=\"RADAR TRADES 2 25.01.2014\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/01/RADAR-TRADES-2-25.01.2014.png\" width=\"526\" height=\"471\" /></a>\r\n</span></b></p>\r\n<p align=\"center\"><b><span style=\"text-decoration: underline;\">PROFITS FROM SINGLE LOT COMPLETED RADAR TRADES:</span></b></p>\r\n<p style=\"text-align: center;\"> 1 x MICRO-LOT:\r\n18 trades at $0.10 cents each = $1.80 cents risk for a $2.80 loss.</p>\r\n<p align=\"center\">1 x MINI-LOT:\r\n18 trades at $1.00 each = $18.00 risk for a $28.00 loss.</p>\r\n<p align=\"center\"><span style=\"line-height: 1.5em;\">1 x STANDARD LOT:\r\n</span><span style=\"line-height: 1.5em;\">18 trades at $10.00 each = $180.00 risk for a $280.00 loss.</span></p>\r\n<span style=\"font-size: 12px;\"> </span>\r\n<p style=\"text-align: center;\"> <a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/01/FLASH-TRADES-25.01.2014.png\"><img class=\"aligncenter size-full wp-image-3146\" alt=\"FLASH TRADES 25.01.2014\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/01/FLASH-TRADES-25.01.2014.png\" width=\"494\" height=\"486\" /></a></p>\r\n<p align=\"center\"><b><span style=\"text-decoration: underline;\">PROFITS FROM SINGLE LOT COMPLETED FLASH TRADES:</span></b></p>\r\n<p style=\"text-align: center;\"> 1 x MICRO-LOT:\r\n17 trades at $0.10 cents each = $1.70 cents risk for a $60.10 reward.</p>\r\n<p style=\"text-align: center;\">1 x MINI-LOT:\r\n17 trades at $1.00 each = $17.00 risk for a $601.00 reward</p>\r\n<p style=\"text-align: center;\">1 x STANDARD LOT:\r\n17 trades at $10.00 each = $170.00 risk for a $6,010.00 reward</p>\r\n<p style=\"text-align: center;\" align=\"center\"><b><span style=\"text-decoration: underline;\"> </span></b></p>\r\n<p align=\"center\"><b><span style=\"text-decoration: underline;\">COMBINED FLASH AND RADAR TRADES PROFIT PERFORMANCE</span></b></p>\r\n<p align=\"center\"><b><span style=\"text-decoration: underline;\">JANUARY 2014…SO FAR:</span></b></p>\r\n<p align=\"center\">TRADING MICRO-LOTS:\r\n35 trades at $0.10 cents each = $3.50 risk for a $57.30 reward.</p>\r\n<p align=\"center\">TRADING MINI-LOTS:\r\n35 trades at $1.00 each = $35.00 risk for a $573.00 reward.</p>\r\n<p align=\"center\">TRADING STANDARD LOTS:\r\n35 trades at $10.00 each = $350.00 risk for a $5,730.00 reward.</p>\r\nThe profitability examples detailed above are based solely upon single lot trading, regardless of lot type. If multiple lot sizes are traded the profitability margins will be different than those shown.\r\n\r\nJust remember, trades are of different sizes, added to, profits are taken along the way the cost average moves and all trades are of different lot styles. I trade, micro lots, mini lots and standard lots across my brokers.\r\n\r\n&nbsp;\r\n\r\n<b><span style=\"text-decoration: underline;\">3. DETAILS OF THE PREMIUM SERVICE:</span></b>\r\n\r\n<b></b>To confirm, the PREMIUM SERVICE has now been launched and you are able to login and register for the PREMIUM SERVICE subscriber service on the welcome page of the WEEKLY FX DRIVE-THRU at www.thepipaccumulator.com\r\n\r\nYou will see the following drop down headings at the top of the welcome page: -\r\n\r\nPREMIUM SERVICE\r\n\r\nSIGN-UP\r\n\r\nThese contain all the information about the PREMIUM SERVICE and subscribing is easy and straightforward.\r\n\r\nThe “Log-in” area is above my avatar to the right of the same welcome page. Once you are logged-in, it is a very straightforward procedure to access and navigate the webpages.\r\n\r\n&nbsp;\r\n\r\n<b><span style=\"text-decoration: underline;\">4. THE VIEW FROM MY TRADING DESK:</span></b><b> </b>\r\n<p align=\"center\"><b>ARE EQUITY MARKETS ABOUT TO GIVE US THE LONG AWAITED CORRECTION?</b></p>\r\nIn many of the recent blogs I have talked about the market dis-connect on several occasions. I have referred several times in the past to my lead indicators GOLD, OIL, COPPER, the U.S.10 year, AUD/USD and USD/CAD and how their reaction helps me look forward.\r\n\r\nThe markets dis-connect has been more noticeable ever since the FED started “Tapering”.  With an FOMC statement due this coming week, if further reductions in purchases by the Fed are announced, the sell-off that is seen right now as a small pullback could turn into a market correction.\r\n\r\nIf it turns out to be a market correction, how much a correction could be seen?\r\n\r\nI think a 10% to 15% would be the maximum but maybe only 5%. As you can see I do not know, I am guessing. Nobody knows the effect of tapering on the market, because it has never been done before.\r\n\r\nThe thoughts of a Dow Jones pullback to 14,500, would certainly market a shift in sentiment but I fear that any correction may not be that deep. We have seen about a 3.5% drop in the Dow Jones in the past 5 days.\r\n\r\nThe S&amp;P has dropped about a 2.6% drop in 5 days. The S&amp;P at 1530.00 after a correction would offer a great buying opportunity and maybe that is where we need to go to flush out all the pessimists who have advocating a pullback / correction for sometime.\r\n\r\nThe recent pullbacks allegedly started on the back of a mixture of China data and good Eurozone PMi data, fuelled by the additional FED tapering.\r\n\r\nI think the AUD has been telling us this was going to happen for sometime. Look at the way it has been trading this past month or so. In addition, the recent rise in the USD/CAD was not just a spike; it was a confirmed break above 1.1000. Gold has been on the precipice of a breakdown for sometime and Crude Oil has been falling\r\n\r\nAll this leads to USD strength and the fact that eventually equities would join the party so to speak. This move lower has been a long time coming.\r\n\r\nThe one thing that I do know is that now we are here, if the correction in equities continues, you must watch the AUD/USD, AUD/JPY very closely along with the USD/CAD for continuing clues.\r\n\r\nI have several key trades inside the PREMIUM SERVICE subscriber section related to this discussed equity weakness plus more associated with this issue ready “to go” after the FOMC later this week.\r\n\r\n&nbsp;\r\n\r\n<b><span style=\"text-decoration: underline;\">5. LOOKING FORWARD…THE KEY SUPPORT &amp; RESISTANCE LEVELS WITH THE USD MAJORS:</span></b>\r\n\r\n<b>EUR/USD: Closing Price 1.3674.</b>  We ended the week close to previous resistance now current support at 1.3670. A break below here sets us back up for another run at 1.3550. Draghi speaking in Davos on Friday spoke about the Eurozone improvements in the past 12 months. Yeah right…go tell that to record millions in unemployment lines. There is another Eurozone crisis on the horizon.  If Merkel and Draghi just got their heads out of their butts they would see the massive dis-connect in the single currency area. If 1.3670 holds we may see 1.3750 again. But remember the FOMC and tapering on Wednesday.\r\n\r\n<b>GBP/USD: Closing Price 1.6475.   </b>Carney showed his true colours on the state of the UK economy. Previous goal posts now removed and new rules are being set. No more forward guidance, back to the “Merve the Swerve” approach (Mervyn King, Carney’s predecessor at the BOE. The cable was demolished on Friday morning on the back of his comments. I lost money on the GBP/CAD at the same time…so bloody annoying. The range is 1.6460 to 1.6550.\r\n\r\n<b>AUD/USD: Closing Price 0.8679</b>.  About 100 pips lower in the week. It will not stop here. RBA Stevens sees 0.8500 as about right. Other RBA quotes are seeking 0.8000. An IMF report (I think, but not 100% certain) sees fair value at 0.6500. Dream on…that\'s a trade. I would call that an ARMAGEDDON TRADE. The range is 0.8650 to 0.8750.\r\n\r\n<b>NZD/USD: Closing Price 0.8212</b>.  This pair is a little lower in the week but not too much of a move. The AUD/NZD cross-rate is playing havoc with the AUD and the NZD.  Support at 0.8200 is critical now and resistance is till good at 0.8340.\r\n\r\n<b>USD/CAD: Closing Price 1.1086.  </b>We are still in breakout territory and I want to buy this pair again. Just not at these elevated levels, but pullbacks did not come back far enough for me, too picky I know. 1.1000 offers great support and resistance is good at 1.1125.\r\n\r\n<b>USD/CHF: Closing Price 0.8936</b>.  We closed yesterday on key lows around 0.8930. If this support gives way I can see 0.8850 once again. On the upside 0.9040 needs to be taken to set this pair bullish once again.\r\n\r\n<b>USD/JPY: Closing Price 102.32. </b> For this pair we saw a 200-pip drop in the week. Quite a move, and I think that there is further downside in the pair. As I said last week there are calls for 98.00. The range at the moment that I see is pretty straightforward and with more downside pressure in the pair possibly in Asia on Sunday night at next weeks open. The range is 102.00 to 102.80.\r\n\r\n&nbsp;\r\n\r\n<b><span style=\"text-decoration: underline;\">6. MAJOR FOREX NEWS THIS WEEK THAT INTERESTS ME:</span></b>\r\n\r\nSUNDAY: N/A\r\n\r\nMONDAY: N/A.\r\n\r\nTUESDAY: N/A\r\n\r\nWEDNESDAY: GBP – BOE Carney speaks.\r\nWEDNESDAY: USD – FOMC Statement.\r\nWEDNESDAY: NZD – Cash Rate and RBNZ Rate Statement.\r\n\r\nTHURSDAY: NZD – RBNZ Wheeler speaks.\r\nTHURSDAY: AUD - PPi\r\n\r\nFRIDAY: CAD – GDP.\r\n\r\n&nbsp;\r\n\r\n<b><span style=\"text-decoration: underline;\">7. FINAL THOUGHTS:</span></b>\r\n\r\nI am expecting fireworks on Wednesday this week but for the rest of the week I am not expecting massive volatility. Having said that get ready for volatility!\r\n\r\nI am expecting some consolidation early next week. We have stretched the boundaries a little with some currencies and we need to work off oversold / over-bought conditions. But at the same time volatility may continue given the rising importance of the FOMC statement regarding tapering on Wednesday.\r\n\r\nAlways, always remember. There is market everyday. You do not need to trade everyday to make your financial goals. Over the coming weeks I will visit as many topics on trading tips as possible to hopefully help and aid better trading success.\r\n\r\nGood luck and trade within your TRADE PLAN guidelines and most importantly use MONEY MANAGEMENT SKILLS to control your risks.\r\n\r\nScott Pickering\r\nThe Pip Accumulator\r\nSaturday January 25<sup>th</sup> 2014\r\n\r\nEMAIL / FOLLOW ME AT:\r\ndrivethru@weeklyfxdrivethru.com\r\nTwitter: @pipaccumulator\r\n<span style=\"line-height: 1.5em;\">Google+/scottpickering\r\n</span><span style=\"line-height: 1.5em;\">StockTwits; thepipaccumulator</span>\r\n\r\n&nbsp;','ARE EQUITY MARKETS ABOUT TO GIVE US THE LONG AWAITED CORRECTION?','','publish','open','closed','','equity-markets-give-us-long-awaited-correction','','','2014-01-25 10:27:15','2014-01-25 15:27:15','',0,'https://weeklyfxdrivethru.com/?p=3149',0,'post','',0),(3150,1,'2014-01-25 10:23:52','2014-01-25 15:23:52','25.01.2014\r\n<p style=\"text-align: left;\" align=\"center\"><b><span style=\"text-decoration: underline;\">1. INTRODUCTION:</span></b></p>\r\nLast week was a very interesting and very profitable week trading in the forex market.\r\n\r\nI could never have predicted the volatility. The Bank of Canada, China PMi and Eurozone PMi all had a part to play in the volatility. There were some mega moves, that I wouldn’t chase and frankly at the time I did not believe they were true moves.\r\n\r\nGreat money was made on big moves with the USD/CAD, EUR/CAD and GBP/CAD on Wednesday. NZD/CAD on Thursday/Friday and then on Friday BOE Carney spoke in London and GBP/CAD gave some profits back and EUR/CAD netted some profits to kind of hedge the “cables” losses.\r\n\r\nAre we now two or three days into the equity markets starting a pullback / correction? I make a few brief comments on this subject later in the blog.<b></b>\r\n\r\n<b><span style=\"text-decoration: underline;\"> </span></b>\r\n\r\n<b><span style=\"text-decoration: underline;\">2. RADAR, FLASH and FUNDAMENTAL TRADES - TRADING SUMMARY:</span></b>\r\n<p align=\"center\"><b><span style=\"text-decoration: underline;\">JANUARY 2014 and YEAR to date:</span></b></p>\r\nBelow I show the up to date excel spreadsheets for my various trading styles.\r\n\r\nThese trade set-ups are “Tweeted” directly to PREMIUM SERVICE subscribers to follow if they wish.\r\n\r\nThis week if you had traded the same mixture of Standard and Mini and Micro lot trades that I had, a three-year subscription would have been covered in three days! Not everyday can be the same but the potential is definitely there.\r\n\r\n&nbsp;\r\n<p align=\"center\"><b><span style=\"text-decoration: underline;\"><a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/01/RADAR-TRADES-1-25.01.2014.png\"><img class=\"aligncenter size-full wp-image-3144\" alt=\"RADAR TRADES 1 25.01.2014\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/01/RADAR-TRADES-1-25.01.2014.png\" width=\"536\" height=\"469\" /></a></span></b></p>\r\n<p align=\"center\"><b><span style=\"text-decoration: underline;\"> </span></b></p>\r\n<p style=\"text-align: center;\"><b><span style=\"text-decoration: underline;\"><a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/01/RADAR-TRADES-2-25.01.2014.png\"><img class=\"aligncenter size-full wp-image-3145\" alt=\"RADAR TRADES 2 25.01.2014\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/01/RADAR-TRADES-2-25.01.2014.png\" width=\"526\" height=\"471\" /></a>\r\n</span></b></p>\r\n<p align=\"center\"><b><span style=\"text-decoration: underline;\">PROFITS FROM SINGLE LOT COMPLETED RADAR TRADES:</span></b></p>\r\n<p style=\"text-align: center;\"> 1 x MICRO-LOT:\r\n18 trades at $0.10 cents each = $1.80 cents risk for a $2.80 loss.</p>\r\n<p align=\"center\">1 x MINI-LOT:\r\n18 trades at $1.00 each = $18.00 risk for a $28.00 loss.</p>\r\n<p align=\"center\"><span style=\"line-height: 1.5em;\">1 x STANDARD LOT:\r\n</span><span style=\"line-height: 1.5em;\">18 trades at $10.00 each = $180.00 risk for a $280.00 loss.</span></p>\r\n<span style=\"font-size: 12px;\"> </span>\r\n<p style=\"text-align: center;\"> <a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/01/FLASH-TRADES-25.01.2014.png\"><img class=\"aligncenter size-full wp-image-3146\" alt=\"FLASH TRADES 25.01.2014\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/01/FLASH-TRADES-25.01.2014.png\" width=\"494\" height=\"486\" /></a></p>\r\n<p align=\"center\"><b><span style=\"text-decoration: underline;\">PROFITS FROM SINGLE LOT COMPLETED FLASH TRADES:</span></b></p>\r\n<p style=\"text-align: center;\"> 1 x MICRO-LOT:\r\n17 trades at $0.10 cents each = $1.70 cents risk for a $60.10 reward.\r\n\r\n1 x MINI-LOT:\r\n17 trades at $1.00 each = $17.00 risk for a $601.00 reward\r\n\r\n1 x STANDARD LOT:\r\n17 trades at $10.00 each = $170.00 risk for a $6,010.00 reward</p>\r\n<p style=\"text-align: center;\" align=\"center\"><b><span style=\"text-decoration: underline;\"> </span></b></p>\r\n<p align=\"center\"><b><span style=\"text-decoration: underline;\">COMBINED FLASH AND RADAR TRADES PROFIT PERFORMANCE</span></b></p>\r\n<p align=\"center\"><b><span style=\"text-decoration: underline;\">JANUARY 2014…SO FAR:</span></b></p>\r\n<p align=\"center\">TRADING MICRO-LOTS:\r\n35 trades at $0.10 cents each = $3.50 risk for a $57.30 reward.</p>\r\n<p align=\"center\">TRADING MINI-LOTS:\r\n35 trades at $1.00 each = $35.00 risk for a $573.00 reward.</p>\r\n<p align=\"center\">TRADING STANDARD LOTS:\r\n35 trades at $10.00 each = $350.00 risk for a $5,730.00 reward.</p>\r\nThe profitability examples detailed above are based solely upon single lot trading, regardless of lot type. If multiple lot sizes are traded the profitability margins will be different than those shown.\r\n\r\nJust remember, trades are of different sizes, added to, profits are taken along the way the cost average moves and all trades are of different lot styles. I trade, micro lots, mini lots and standard lots across my brokers.\r\n\r\n&nbsp;\r\n\r\n<b><span style=\"text-decoration: underline;\">3. DETAILS OF THE PREMIUM SERVICE:</span></b>\r\n\r\n<b></b>To confirm, the PREMIUM SERVICE has now been launched and you are able to login and register for the PREMIUM SERVICE subscriber service on the welcome page of the WEEKLY FX DRIVE-THRU at www.thepipaccumulator.com\r\n\r\nYou will see the following drop down headings at the top of the welcome page: -\r\n\r\nPREMIUM SERVICE\r\n\r\nSIGN-UP\r\n\r\nThese contain all the information about the PREMIUM SERVICE and subscribing is easy and straightforward.\r\n\r\nThe “Log-in” area is above my avatar to the right of the same welcome page. Once you are logged-in, it is a very straightforward procedure to access and navigate the webpages.\r\n\r\n&nbsp;\r\n\r\n<b><span style=\"text-decoration: underline;\">4. THE VIEW FROM MY TRADING DESK:</span></b><b> </b>\r\n<p align=\"center\"><b>ARE EQUITY MARKETS ABOUT TO GIVE US THE LONG AWAITED CORRECTION?</b></p>\r\nIn many of the recent blogs I have talked about the market dis-connect on several occasions. I have referred several times in the past to my lead indicators GOLD, OIL, COPPER, the U.S.10 year, AUD/USD and USD/CAD and how their reaction helps me look forward.\r\n\r\nThe markets dis-connect has been more noticable ever since the FED started “Tapering”.  With an FOMC statement due this coming week, if further reductions in purchases by the Fed are announced, the sell-off that is seen right now as a small pullback could turn into a market correction.\r\n\r\nIf it turns out to be a market correction, how much a correction could be seen?\r\n\r\nI think a 10% to 15% would be the maximum but maybe only 5%. As you can see I do not know, I am guessing. Nobody knows the effect of tapering on the market, because it has never been done before.\r\n\r\nThe thoughts of a Dow Jones pullback to 14,500, would certainly market a shift in sentiment but I fear that any correction may not be that deep. We have seen about a 3.5% drop in the Dow Jones in the past 5 days.\r\n\r\nThe S&amp;P has dropped about a 2.6% drop in 5 days. The S&amp;P at 1530.00 after a correction would offer a great buying opportunity and maybe that is where we need to go to flush out all the pessimists who have advocating a pullback / correction for sometime.\r\n\r\nThe recent pullbacks allegedly started on the back of a mixture of China data and good Eurozone PMi data, fuelled by the additional FED tapering.\r\n\r\nI think the AUD has been telling us this was going to happen for sometime. Look at the way it has been trading this past month or so. In addition, the recent rise in the USD/CAD was not just a spike; it was a confirmed break above 1.1000. Gold has been on the precipice of a breakdown for sometime and Crude Oil has been falling\r\n\r\nAll this leads to USD strength and the fact that eventually equities would join the party so to speak. This move lower has been a long time coming.\r\n\r\nThe one thing that I do know is that now we are here, if the correction in equities continues, you must watch the AUD/USD, AUD/JPY very closely along with the USD/CAD for continuing clues.\r\n\r\nI have several key trades inside the PREMIUM SERVICE subscriber section related to this discussed equity weakness plus more associated with this issue ready “to go” after the FOMC later this week.\r\n\r\n&nbsp;\r\n\r\n<b><span style=\"text-decoration: underline;\">5. LOOKING FORWARD…THE KEY SUPPORT &amp; RESISTANCE LEVELS WITH THE USD MAJORS:</span></b>\r\n\r\n<b>EUR/USD: Closing Price 1.3674.</b>  We ended the week close to previous resistance now current support at 1.3670. A break below here sets us back up for another run at 1.3550. Draghi speaking in Davos on Friday spoke about the Eurozone improvements in the past 12 months. Yeah right…go tell that to record millions in unemployment lines. There is another Eurozone crisis on the horizon.  If Merkel and Draghi just got their heads out of their butts they would see the massive dis-connect in the single currency area. If 1.3670 holds we may see 1.3750 again. But remember the FOMC and tapering on Wednesday.\r\n\r\n<b>GBP/USD: Closing Price 1.6475.   </b>Carney showed his true colours on the state of the UK economy. Previous goal posts now removed and new rules are being set. No more forward guidance, back to the “Merve the Swerve” approach (Mervyn King, Carney’s predecessor at the BOE. The cable was demolished on Friday morning on the back of his comments. I lost money on the GBP/CAD at the same time…so bloody annoying. The range is 1.6460 to 1.6550.\r\n\r\n<b>AUD/USD: Closing Price 0.8679</b>.  About 100 pips lower in the week. It will not stop here. RBA Stevens sees 0.8500 as about right. Other RBA quotes are seeking 0.8000. An IMF report (I think, but not 100% certain) sees fair value at 0.6500. Dream on…that\'s a trade. I would call that an ARMAGEDDON TRADE. The range is 0.8650 to 0.8750.\r\n\r\n<b>NZD/USD: Closing Price 0.8212</b>.  This pair is a little lower in the week but not too much of a move. The AUD/NZD cross-rate is playing havoc with the AUD and the NZD.  Support at 0.8200 is critical now and resistance is till good at 0.8340.\r\n\r\n<b>USD/CAD: Closing Price 1.1086.  </b>We are still in breakout territory and I want to buy this pair again. Just not at these elevated levels, but pullbacks did not come back far enough for me, too picky I know. 1.1000 offers great support and resistance is good at 1.1125.\r\n\r\n<b>USD/CHF: Closing Price 0.8936</b>.  We closed yesterday on key lows around 0.8930. If this support gives way I can see 0.8850 once again. On the upside 0.9040 needs to be taken to set this pair bullish once again.\r\n\r\n<b>USD/JPY: Closing Price 102.32. </b> For this pair we saw a 200-pip drop in the week. Quite a move, and I think that there is further downside in the pair. As I said last week there are calls for 98.00. The range at the moment that I see is pretty straightforward and with more downside pressure in the pair possibly in Asia on Sunday night at next weeks open. The range is 102.00 to 102.80.\r\n\r\n&nbsp;\r\n\r\n<b><span style=\"text-decoration: underline;\"> </span></b>\r\n\r\n<b><span style=\"text-decoration: underline;\">6. MAJOR FOREX NEWS THIS WEEK THAT INTERESTS ME:</span></b>\r\n\r\nSUNDAY: N/A\r\n\r\nMONDAY: N/A.\r\n\r\nTUESDAY: N/A\r\n\r\nWEDNESDAY: GBP – BOE Carney speaks.\r\nWEDNESDAY: USD – FOMC Statement.\r\nWEDNESDAY: NZD – Cash Rate and RBNZ Rate Statement.\r\n\r\nTHURSDAY: NZD – RBNZ Wheeler speaks.\r\nTHURSDAY: AUD - PPi\r\n\r\nFRIDAY: CAD – GDP.\r\n\r\n&nbsp;\r\n\r\n<b><span style=\"text-decoration: underline;\">7. FINAL THOUGHTS:</span></b>\r\n\r\nI am expecting fireworks on Wednesday this week but for the rest of the week I am not expecting massive volatility. Having said that get ready for volatility!\r\n\r\nI am expecting some consolidation early next week. We have stretched the boundaries a little with some currencies and we need to work off oversold / over-bought conditions. But at the same time volatility may continue given the rising importance of the FOMC statement regarding tapering on Wednesday.\r\n\r\nAlways, always remember. There is market everyday. You do not need to trade everyday to make your financial goals. Over the coming weeks I will visit as many topics on trading tips as possible to hopefully help and aid better trading success.\r\n\r\nGood luck and trade within your TRADE PLAN guidelines and most importantly use MONEY MANGEMENT SKILLS to control your risks.\r\n\r\nScott Pickering\r\nThe Pip Accumulator\r\nSaturday January 25<sup>th</sup> 2014\r\n\r\nEMAIL / FOLLOW ME AT:\r\ndrivethru@weeklyfxdrivethru.com\r\nTwitter: @pipaccumulator\r\n<span style=\"line-height: 1.5em;\">Google+/scottpickering\r\n</span><span style=\"line-height: 1.5em;\">StockTwits; thepipaccumulator</span>\r\n\r\n&nbsp;','ARE EQUITY MARKETS ABOUT TO GIVE US THE LONG AWAITED CORRECTION?','','inherit','open','closed','','3149-revision-v1','','','2014-01-25 10:23:52','2014-01-25 15:23:52','',3149,'https://weeklyfxdrivethru.com/3149-revision-v1/',0,'revision','',0),(3151,1,'2014-01-25 10:24:35','2014-01-25 15:24:35','25.01.2014\r\n<p style=\"text-align: left;\" align=\"center\"><b><span style=\"text-decoration: underline;\">1. INTRODUCTION:</span></b></p>\r\nLast week was a very interesting and very profitable week trading in the forex market.\r\n\r\nI could never have predicted the volatility. The Bank of Canada, China PMi and Eurozone PMi all had a part to play in the volatility. There were some mega moves, that I wouldn’t chase and frankly at the time I did not believe they were true moves.\r\n\r\nGreat money was made on big moves with the USD/CAD, EUR/CAD and GBP/CAD on Wednesday. NZD/CAD on Thursday/Friday and then on Friday BOE Carney spoke in London and GBP/CAD gave some profits back and EUR/CAD netted some profits to kind of hedge the “cables” losses.\r\n\r\nAre we now two or three days into the equity markets starting a pullback / correction? I make a few brief comments on this subject later in the blog.<b></b>\r\n\r\n<b><span style=\"text-decoration: underline;\"> </span></b>\r\n\r\n<b><span style=\"text-decoration: underline;\">2. RADAR, FLASH and FUNDAMENTAL TRADES - TRADING SUMMARY:</span></b>\r\n<p align=\"center\"><b><span style=\"text-decoration: underline;\">JANUARY 2014 and YEAR to date:</span></b></p>\r\nBelow I show the up to date excel spreadsheets for my various trading styles.\r\n\r\nThese trade set-ups are “Tweeted” directly to PREMIUM SERVICE subscribers to follow if they wish.\r\n\r\nThis week if you had traded the same mixture of Standard and Mini and Micro lot trades that I had, a three-year subscription would have been covered in three days! Not everyday can be the same but the potential is definitely there.\r\n\r\n&nbsp;\r\n<p align=\"center\"><b><span style=\"text-decoration: underline;\"><a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/01/RADAR-TRADES-1-25.01.2014.png\"><img class=\"aligncenter size-full wp-image-3144\" alt=\"RADAR TRADES 1 25.01.2014\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/01/RADAR-TRADES-1-25.01.2014.png\" width=\"536\" height=\"469\" /></a></span></b></p>\r\n<p align=\"center\"><b><span style=\"text-decoration: underline;\"> </span></b></p>\r\n<p style=\"text-align: center;\"><b><span style=\"text-decoration: underline;\"><a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/01/RADAR-TRADES-2-25.01.2014.png\"><img class=\"aligncenter size-full wp-image-3145\" alt=\"RADAR TRADES 2 25.01.2014\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/01/RADAR-TRADES-2-25.01.2014.png\" width=\"526\" height=\"471\" /></a>\r\n</span></b></p>\r\n<p align=\"center\"><b><span style=\"text-decoration: underline;\">PROFITS FROM SINGLE LOT COMPLETED RADAR TRADES:</span></b></p>\r\n<p style=\"text-align: center;\"> 1 x MICRO-LOT:\r\n18 trades at $0.10 cents each = $1.80 cents risk for a $2.80 loss.</p>\r\n<p align=\"center\">1 x MINI-LOT:\r\n18 trades at $1.00 each = $18.00 risk for a $28.00 loss.</p>\r\n<p align=\"center\"><span style=\"line-height: 1.5em;\">1 x STANDARD LOT:\r\n</span><span style=\"line-height: 1.5em;\">18 trades at $10.00 each = $180.00 risk for a $280.00 loss.</span></p>\r\n<span style=\"font-size: 12px;\"> </span>\r\n<p style=\"text-align: center;\"> <a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/01/FLASH-TRADES-25.01.2014.png\"><img class=\"aligncenter size-full wp-image-3146\" alt=\"FLASH TRADES 25.01.2014\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/01/FLASH-TRADES-25.01.2014.png\" width=\"494\" height=\"486\" /></a></p>\r\n<p align=\"center\"><b><span style=\"text-decoration: underline;\">PROFITS FROM SINGLE LOT COMPLETED FLASH TRADES:</span></b></p>\r\n<p style=\"text-align: center;\"> 1 x MICRO-LOT:\r\n17 trades at $0.10 cents each = $1.70 cents risk for a $60.10 reward.</p>\r\n<p style=\"text-align: center;\">1 x MINI-LOT:\r\n17 trades at $1.00 each = $17.00 risk for a $601.00 reward</p>\r\n<p style=\"text-align: center;\">1 x STANDARD LOT:\r\n17 trades at $10.00 each = $170.00 risk for a $6,010.00 reward</p>\r\n<p style=\"text-align: center;\" align=\"center\"><b><span style=\"text-decoration: underline;\"> </span></b></p>\r\n<p align=\"center\"><b><span style=\"text-decoration: underline;\">COMBINED FLASH AND RADAR TRADES PROFIT PERFORMANCE</span></b></p>\r\n<p align=\"center\"><b><span style=\"text-decoration: underline;\">JANUARY 2014…SO FAR:</span></b></p>\r\n<p align=\"center\">TRADING MICRO-LOTS:\r\n35 trades at $0.10 cents each = $3.50 risk for a $57.30 reward.</p>\r\n<p align=\"center\">TRADING MINI-LOTS:\r\n35 trades at $1.00 each = $35.00 risk for a $573.00 reward.</p>\r\n<p align=\"center\">TRADING STANDARD LOTS:\r\n35 trades at $10.00 each = $350.00 risk for a $5,730.00 reward.</p>\r\nThe profitability examples detailed above are based solely upon single lot trading, regardless of lot type. If multiple lot sizes are traded the profitability margins will be different than those shown.\r\n\r\nJust remember, trades are of different sizes, added to, profits are taken along the way the cost average moves and all trades are of different lot styles. I trade, micro lots, mini lots and standard lots across my brokers.\r\n\r\n&nbsp;\r\n\r\n<b><span style=\"text-decoration: underline;\">3. DETAILS OF THE PREMIUM SERVICE:</span></b>\r\n\r\n<b></b>To confirm, the PREMIUM SERVICE has now been launched and you are able to login and register for the PREMIUM SERVICE subscriber service on the welcome page of the WEEKLY FX DRIVE-THRU at www.thepipaccumulator.com\r\n\r\nYou will see the following drop down headings at the top of the welcome page: -\r\n\r\nPREMIUM SERVICE\r\n\r\nSIGN-UP\r\n\r\nThese contain all the information about the PREMIUM SERVICE and subscribing is easy and straightforward.\r\n\r\nThe “Log-in” area is above my avatar to the right of the same welcome page. Once you are logged-in, it is a very straightforward procedure to access and navigate the webpages.\r\n\r\n&nbsp;\r\n\r\n<b><span style=\"text-decoration: underline;\">4. THE VIEW FROM MY TRADING DESK:</span></b><b> </b>\r\n<p align=\"center\"><b>ARE EQUITY MARKETS ABOUT TO GIVE US THE LONG AWAITED CORRECTION?</b></p>\r\nIn many of the recent blogs I have talked about the market dis-connect on several occasions. I have referred several times in the past to my lead indicators GOLD, OIL, COPPER, the U.S.10 year, AUD/USD and USD/CAD and how their reaction helps me look forward.\r\n\r\nThe markets dis-connect has been more noticable ever since the FED started “Tapering”.  With an FOMC statement due this coming week, if further reductions in purchases by the Fed are announced, the sell-off that is seen right now as a small pullback could turn into a market correction.\r\n\r\nIf it turns out to be a market correction, how much a correction could be seen?\r\n\r\nI think a 10% to 15% would be the maximum but maybe only 5%. As you can see I do not know, I am guessing. Nobody knows the effect of tapering on the market, because it has never been done before.\r\n\r\nThe thoughts of a Dow Jones pullback to 14,500, would certainly market a shift in sentiment but I fear that any correction may not be that deep. We have seen about a 3.5% drop in the Dow Jones in the past 5 days.\r\n\r\nThe S&amp;P has dropped about a 2.6% drop in 5 days. The S&amp;P at 1530.00 after a correction would offer a great buying opportunity and maybe that is where we need to go to flush out all the pessimists who have advocating a pullback / correction for sometime.\r\n\r\nThe recent pullbacks allegedly started on the back of a mixture of China data and good Eurozone PMi data, fuelled by the additional FED tapering.\r\n\r\nI think the AUD has been telling us this was going to happen for sometime. Look at the way it has been trading this past month or so. In addition, the recent rise in the USD/CAD was not just a spike; it was a confirmed break above 1.1000. Gold has been on the precipice of a breakdown for sometime and Crude Oil has been falling\r\n\r\nAll this leads to USD strength and the fact that eventually equities would join the party so to speak. This move lower has been a long time coming.\r\n\r\nThe one thing that I do know is that now we are here, if the correction in equities continues, you must watch the AUD/USD, AUD/JPY very closely along with the USD/CAD for continuing clues.\r\n\r\nI have several key trades inside the PREMIUM SERVICE subscriber section related to this discussed equity weakness plus more associated with this issue ready “to go” after the FOMC later this week.\r\n\r\n&nbsp;\r\n\r\n<b><span style=\"text-decoration: underline;\">5. LOOKING FORWARD…THE KEY SUPPORT &amp; RESISTANCE LEVELS WITH THE USD MAJORS:</span></b>\r\n\r\n<b>EUR/USD: Closing Price 1.3674.</b>  We ended the week close to previous resistance now current support at 1.3670. A break below here sets us back up for another run at 1.3550. Draghi speaking in Davos on Friday spoke about the Eurozone improvements in the past 12 months. Yeah right…go tell that to record millions in unemployment lines. There is another Eurozone crisis on the horizon.  If Merkel and Draghi just got their heads out of their butts they would see the massive dis-connect in the single currency area. If 1.3670 holds we may see 1.3750 again. But remember the FOMC and tapering on Wednesday.\r\n\r\n<b>GBP/USD: Closing Price 1.6475.   </b>Carney showed his true colours on the state of the UK economy. Previous goal posts now removed and new rules are being set. No more forward guidance, back to the “Merve the Swerve” approach (Mervyn King, Carney’s predecessor at the BOE. The cable was demolished on Friday morning on the back of his comments. I lost money on the GBP/CAD at the same time…so bloody annoying. The range is 1.6460 to 1.6550.\r\n\r\n<b>AUD/USD: Closing Price 0.8679</b>.  About 100 pips lower in the week. It will not stop here. RBA Stevens sees 0.8500 as about right. Other RBA quotes are seeking 0.8000. An IMF report (I think, but not 100% certain) sees fair value at 0.6500. Dream on…that\'s a trade. I would call that an ARMAGEDDON TRADE. The range is 0.8650 to 0.8750.\r\n\r\n<b>NZD/USD: Closing Price 0.8212</b>.  This pair is a little lower in the week but not too much of a move. The AUD/NZD cross-rate is playing havoc with the AUD and the NZD.  Support at 0.8200 is critical now and resistance is till good at 0.8340.\r\n\r\n<b>USD/CAD: Closing Price 1.1086.  </b>We are still in breakout territory and I want to buy this pair again. Just not at these elevated levels, but pullbacks did not come back far enough for me, too picky I know. 1.1000 offers great support and resistance is good at 1.1125.\r\n\r\n<b>USD/CHF: Closing Price 0.8936</b>.  We closed yesterday on key lows around 0.8930. If this support gives way I can see 0.8850 once again. On the upside 0.9040 needs to be taken to set this pair bullish once again.\r\n\r\n<b>USD/JPY: Closing Price 102.32. </b> For this pair we saw a 200-pip drop in the week. Quite a move, and I think that there is further downside in the pair. As I said last week there are calls for 98.00. The range at the moment that I see is pretty straightforward and with more downside pressure in the pair possibly in Asia on Sunday night at next weeks open. The range is 102.00 to 102.80.\r\n\r\n&nbsp;\r\n\r\n<b><span style=\"text-decoration: underline;\">6. MAJOR FOREX NEWS THIS WEEK THAT INTERESTS ME:</span></b>\r\n\r\nSUNDAY: N/A\r\n\r\nMONDAY: N/A.\r\n\r\nTUESDAY: N/A\r\n\r\nWEDNESDAY: GBP – BOE Carney speaks.\r\nWEDNESDAY: USD – FOMC Statement.\r\nWEDNESDAY: NZD – Cash Rate and RBNZ Rate Statement.\r\n\r\nTHURSDAY: NZD – RBNZ Wheeler speaks.\r\nTHURSDAY: AUD - PPi\r\n\r\nFRIDAY: CAD – GDP.\r\n\r\n&nbsp;\r\n\r\n<b><span style=\"text-decoration: underline;\">7. FINAL THOUGHTS:</span></b>\r\n\r\nI am expecting fireworks on Wednesday this week but for the rest of the week I am not expecting massive volatility. Having said that get ready for volatility!\r\n\r\nI am expecting some consolidation early next week. We have stretched the boundaries a little with some currencies and we need to work off oversold / over-bought conditions. But at the same time volatility may continue given the rising importance of the FOMC statement regarding tapering on Wednesday.\r\n\r\nAlways, always remember. There is market everyday. You do not need to trade everyday to make your financial goals. Over the coming weeks I will visit as many topics on trading tips as possible to hopefully help and aid better trading success.\r\n\r\nGood luck and trade within your TRADE PLAN guidelines and most importantly use MONEY MANGEMENT SKILLS to control your risks.\r\n\r\nScott Pickering\r\nThe Pip Accumulator\r\nSaturday January 25<sup>th</sup> 2014\r\n\r\nEMAIL / FOLLOW ME AT:\r\ndrivethru@weeklyfxdrivethru.com\r\nTwitter: @pipaccumulator\r\n<span style=\"line-height: 1.5em;\">Google+/scottpickering\r\n</span><span style=\"line-height: 1.5em;\">StockTwits; thepipaccumulator</span>\r\n\r\n&nbsp;','ARE EQUITY MARKETS ABOUT TO GIVE US THE LONG AWAITED CORRECTION?','','inherit','open','closed','','3149-revision-v1','','','2014-01-25 10:24:35','2014-01-25 15:24:35','',3149,'https://weeklyfxdrivethru.com/3149-revision-v1/',0,'revision','',0),(3152,1,'2014-01-25 10:26:48','2014-01-25 15:26:48','25.01.2014\r\n<p style=\"text-align: left;\" align=\"center\"><b><span style=\"text-decoration: underline;\">1. INTRODUCTION:</span></b></p>\r\nLast week was a very interesting and very profitable week trading in the forex market.\r\n\r\nI could never have predicted the volatility. The Bank of Canada, China PMi and Eurozone PMi all had a part to play in the volatility. There were some mega moves, that I wouldn’t chase and frankly at the time I did not believe they were true moves.\r\n\r\nGreat money was made on big moves with the USD/CAD, EUR/CAD and GBP/CAD on Wednesday. NZD/CAD on Thursday/Friday and then on Friday BOE Carney spoke in London and GBP/CAD gave some profits back and EUR/CAD netted some profits to kind of hedge the “cables” losses.\r\n\r\nAre we now two or three days into the equity markets starting a pullback / correction? I make a few brief comments on this subject later in the blog.<b></b>\r\n\r\n<b><span style=\"text-decoration: underline;\"> </span></b>\r\n\r\n<b><span style=\"text-decoration: underline;\">2. RADAR, FLASH and FUNDAMENTAL TRADES - TRADING SUMMARY:</span></b>\r\n<p align=\"center\"><b><span style=\"text-decoration: underline;\">JANUARY 2014 and YEAR to date:</span></b></p>\r\nBelow I show the up to date excel spreadsheets for my various trading styles.\r\n\r\nThese trade set-ups are “Tweeted” directly to PREMIUM SERVICE subscribers to follow if they wish.\r\n\r\nThis week if you had traded the same mixture of Standard and Mini and Micro lot trades that I had, a three-year subscription would have been covered in three days! Not everyday can be the same but the potential is definitely there.\r\n\r\n&nbsp;\r\n<p align=\"center\"><b><span style=\"text-decoration: underline;\"><a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/01/RADAR-TRADES-1-25.01.2014.png\"><img class=\"aligncenter size-full wp-image-3144\" alt=\"RADAR TRADES 1 25.01.2014\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/01/RADAR-TRADES-1-25.01.2014.png\" width=\"536\" height=\"469\" /></a></span></b></p>\r\n<p align=\"center\"><b><span style=\"text-decoration: underline;\"> </span></b></p>\r\n<p style=\"text-align: center;\"><b><span style=\"text-decoration: underline;\"><a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/01/RADAR-TRADES-2-25.01.2014.png\"><img class=\"aligncenter size-full wp-image-3145\" alt=\"RADAR TRADES 2 25.01.2014\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/01/RADAR-TRADES-2-25.01.2014.png\" width=\"526\" height=\"471\" /></a>\r\n</span></b></p>\r\n<p align=\"center\"><b><span style=\"text-decoration: underline;\">PROFITS FROM SINGLE LOT COMPLETED RADAR TRADES:</span></b></p>\r\n<p style=\"text-align: center;\"> 1 x MICRO-LOT:\r\n18 trades at $0.10 cents each = $1.80 cents risk for a $2.80 loss.</p>\r\n<p align=\"center\">1 x MINI-LOT:\r\n18 trades at $1.00 each = $18.00 risk for a $28.00 loss.</p>\r\n<p align=\"center\"><span style=\"line-height: 1.5em;\">1 x STANDARD LOT:\r\n</span><span style=\"line-height: 1.5em;\">18 trades at $10.00 each = $180.00 risk for a $280.00 loss.</span></p>\r\n<span style=\"font-size: 12px;\"> </span>\r\n<p style=\"text-align: center;\"> <a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/01/FLASH-TRADES-25.01.2014.png\"><img class=\"aligncenter size-full wp-image-3146\" alt=\"FLASH TRADES 25.01.2014\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/01/FLASH-TRADES-25.01.2014.png\" width=\"494\" height=\"486\" /></a></p>\r\n<p align=\"center\"><b><span style=\"text-decoration: underline;\">PROFITS FROM SINGLE LOT COMPLETED FLASH TRADES:</span></b></p>\r\n<p style=\"text-align: center;\"> 1 x MICRO-LOT:\r\n17 trades at $0.10 cents each = $1.70 cents risk for a $60.10 reward.</p>\r\n<p style=\"text-align: center;\">1 x MINI-LOT:\r\n17 trades at $1.00 each = $17.00 risk for a $601.00 reward</p>\r\n<p style=\"text-align: center;\">1 x STANDARD LOT:\r\n17 trades at $10.00 each = $170.00 risk for a $6,010.00 reward</p>\r\n<p style=\"text-align: center;\" align=\"center\"><b><span style=\"text-decoration: underline;\"> </span></b></p>\r\n<p align=\"center\"><b><span style=\"text-decoration: underline;\">COMBINED FLASH AND RADAR TRADES PROFIT PERFORMANCE</span></b></p>\r\n<p align=\"center\"><b><span style=\"text-decoration: underline;\">JANUARY 2014…SO FAR:</span></b></p>\r\n<p align=\"center\">TRADING MICRO-LOTS:\r\n35 trades at $0.10 cents each = $3.50 risk for a $57.30 reward.</p>\r\n<p align=\"center\">TRADING MINI-LOTS:\r\n35 trades at $1.00 each = $35.00 risk for a $573.00 reward.</p>\r\n<p align=\"center\">TRADING STANDARD LOTS:\r\n35 trades at $10.00 each = $350.00 risk for a $5,730.00 reward.</p>\r\nThe profitability examples detailed above are based solely upon single lot trading, regardless of lot type. If multiple lot sizes are traded the profitability margins will be different than those shown.\r\n\r\nJust remember, trades are of different sizes, added to, profits are taken along the way the cost average moves and all trades are of different lot styles. I trade, micro lots, mini lots and standard lots across my brokers.\r\n\r\n&nbsp;\r\n\r\n<b><span style=\"text-decoration: underline;\">3. DETAILS OF THE PREMIUM SERVICE:</span></b>\r\n\r\n<b></b>To confirm, the PREMIUM SERVICE has now been launched and you are able to login and register for the PREMIUM SERVICE subscriber service on the welcome page of the WEEKLY FX DRIVE-THRU at www.thepipaccumulator.com\r\n\r\nYou will see the following drop down headings at the top of the welcome page: -\r\n\r\nPREMIUM SERVICE\r\n\r\nSIGN-UP\r\n\r\nThese contain all the information about the PREMIUM SERVICE and subscribing is easy and straightforward.\r\n\r\nThe “Log-in” area is above my avatar to the right of the same welcome page. Once you are logged-in, it is a very straightforward procedure to access and navigate the webpages.\r\n\r\n&nbsp;\r\n\r\n<b><span style=\"text-decoration: underline;\">4. THE VIEW FROM MY TRADING DESK:</span></b><b> </b>\r\n<p align=\"center\"><b>ARE EQUITY MARKETS ABOUT TO GIVE US THE LONG AWAITED CORRECTION?</b></p>\r\nIn many of the recent blogs I have talked about the market dis-connect on several occasions. I have referred several times in the past to my lead indicators GOLD, OIL, COPPER, the U.S.10 year, AUD/USD and USD/CAD and how their reaction helps me look forward.\r\n\r\nThe markets dis-connect has been more noticeable ever since the FED started “Tapering”.  With an FOMC statement due this coming week, if further reductions in purchases by the Fed are announced, the sell-off that is seen right now as a small pullback could turn into a market correction.\r\n\r\nIf it turns out to be a market correction, how much a correction could be seen?\r\n\r\nI think a 10% to 15% would be the maximum but maybe only 5%. As you can see I do not know, I am guessing. Nobody knows the effect of tapering on the market, because it has never been done before.\r\n\r\nThe thoughts of a Dow Jones pullback to 14,500, would certainly market a shift in sentiment but I fear that any correction may not be that deep. We have seen about a 3.5% drop in the Dow Jones in the past 5 days.\r\n\r\nThe S&amp;P has dropped about a 2.6% drop in 5 days. The S&amp;P at 1530.00 after a correction would offer a great buying opportunity and maybe that is where we need to go to flush out all the pessimists who have advocating a pullback / correction for sometime.\r\n\r\nThe recent pullbacks allegedly started on the back of a mixture of China data and good Eurozone PMi data, fuelled by the additional FED tapering.\r\n\r\nI think the AUD has been telling us this was going to happen for sometime. Look at the way it has been trading this past month or so. In addition, the recent rise in the USD/CAD was not just a spike; it was a confirmed break above 1.1000. Gold has been on the precipice of a breakdown for sometime and Crude Oil has been falling\r\n\r\nAll this leads to USD strength and the fact that eventually equities would join the party so to speak. This move lower has been a long time coming.\r\n\r\nThe one thing that I do know is that now we are here, if the correction in equities continues, you must watch the AUD/USD, AUD/JPY very closely along with the USD/CAD for continuing clues.\r\n\r\nI have several key trades inside the PREMIUM SERVICE subscriber section related to this discussed equity weakness plus more associated with this issue ready “to go” after the FOMC later this week.\r\n\r\n&nbsp;\r\n\r\n<b><span style=\"text-decoration: underline;\">5. LOOKING FORWARD…THE KEY SUPPORT &amp; RESISTANCE LEVELS WITH THE USD MAJORS:</span></b>\r\n\r\n<b>EUR/USD: Closing Price 1.3674.</b>  We ended the week close to previous resistance now current support at 1.3670. A break below here sets us back up for another run at 1.3550. Draghi speaking in Davos on Friday spoke about the Eurozone improvements in the past 12 months. Yeah right…go tell that to record millions in unemployment lines. There is another Eurozone crisis on the horizon.  If Merkel and Draghi just got their heads out of their butts they would see the massive dis-connect in the single currency area. If 1.3670 holds we may see 1.3750 again. But remember the FOMC and tapering on Wednesday.\r\n\r\n<b>GBP/USD: Closing Price 1.6475.   </b>Carney showed his true colours on the state of the UK economy. Previous goal posts now removed and new rules are being set. No more forward guidance, back to the “Merve the Swerve” approach (Mervyn King, Carney’s predecessor at the BOE. The cable was demolished on Friday morning on the back of his comments. I lost money on the GBP/CAD at the same time…so bloody annoying. The range is 1.6460 to 1.6550.\r\n\r\n<b>AUD/USD: Closing Price 0.8679</b>.  About 100 pips lower in the week. It will not stop here. RBA Stevens sees 0.8500 as about right. Other RBA quotes are seeking 0.8000. An IMF report (I think, but not 100% certain) sees fair value at 0.6500. Dream on…that\'s a trade. I would call that an ARMAGEDDON TRADE. The range is 0.8650 to 0.8750.\r\n\r\n<b>NZD/USD: Closing Price 0.8212</b>.  This pair is a little lower in the week but not too much of a move. The AUD/NZD cross-rate is playing havoc with the AUD and the NZD.  Support at 0.8200 is critical now and resistance is till good at 0.8340.\r\n\r\n<b>USD/CAD: Closing Price 1.1086.  </b>We are still in breakout territory and I want to buy this pair again. Just not at these elevated levels, but pullbacks did not come back far enough for me, too picky I know. 1.1000 offers great support and resistance is good at 1.1125.\r\n\r\n<b>USD/CHF: Closing Price 0.8936</b>.  We closed yesterday on key lows around 0.8930. If this support gives way I can see 0.8850 once again. On the upside 0.9040 needs to be taken to set this pair bullish once again.\r\n\r\n<b>USD/JPY: Closing Price 102.32. </b> For this pair we saw a 200-pip drop in the week. Quite a move, and I think that there is further downside in the pair. As I said last week there are calls for 98.00. The range at the moment that I see is pretty straightforward and with more downside pressure in the pair possibly in Asia on Sunday night at next weeks open. The range is 102.00 to 102.80.\r\n\r\n&nbsp;\r\n\r\n<b><span style=\"text-decoration: underline;\">6. MAJOR FOREX NEWS THIS WEEK THAT INTERESTS ME:</span></b>\r\n\r\nSUNDAY: N/A\r\n\r\nMONDAY: N/A.\r\n\r\nTUESDAY: N/A\r\n\r\nWEDNESDAY: GBP – BOE Carney speaks.\r\nWEDNESDAY: USD – FOMC Statement.\r\nWEDNESDAY: NZD – Cash Rate and RBNZ Rate Statement.\r\n\r\nTHURSDAY: NZD – RBNZ Wheeler speaks.\r\nTHURSDAY: AUD - PPi\r\n\r\nFRIDAY: CAD – GDP.\r\n\r\n&nbsp;\r\n\r\n<b><span style=\"text-decoration: underline;\">7. FINAL THOUGHTS:</span></b>\r\n\r\nI am expecting fireworks on Wednesday this week but for the rest of the week I am not expecting massive volatility. Having said that get ready for volatility!\r\n\r\nI am expecting some consolidation early next week. We have stretched the boundaries a little with some currencies and we need to work off oversold / over-bought conditions. But at the same time volatility may continue given the rising importance of the FOMC statement regarding tapering on Wednesday.\r\n\r\nAlways, always remember. There is market everyday. You do not need to trade everyday to make your financial goals. Over the coming weeks I will visit as many topics on trading tips as possible to hopefully help and aid better trading success.\r\n\r\nGood luck and trade within your TRADE PLAN guidelines and most importantly use MONEY MANAGEMENT SKILLS to control your risks.\r\n\r\nScott Pickering\r\nThe Pip Accumulator\r\nSaturday January 25<sup>th</sup> 2014\r\n\r\nEMAIL / FOLLOW ME AT:\r\ndrivethru@weeklyfxdrivethru.com\r\nTwitter: @pipaccumulator\r\n<span style=\"line-height: 1.5em;\">Google+/scottpickering\r\n</span><span style=\"line-height: 1.5em;\">StockTwits; thepipaccumulator</span>\r\n\r\n&nbsp;','ARE EQUITY MARKETS ABOUT TO GIVE US THE LONG AWAITED CORRECTION?','','inherit','open','closed','','3149-revision-v1','','','2014-01-25 10:26:48','2014-01-25 15:26:48','',3149,'https://weeklyfxdrivethru.com/3149-revision-v1/',0,'revision','',0),(3153,1,'2014-01-25 11:21:03','2014-01-25 16:21:03','25.01.2014<b> </b><b style=\"line-height: 1.5em;\"> </b>\r\n\r\n<b><span style=\"text-decoration: underline;\">1. INTRODUCTION:</span></b>\r\n\r\nWelcome to the very first PREMIUM SERVICE blog.\r\n\r\nOver the coming weeks / months I hope to bring to these pages some great trade set-ups and some essential and valuable trading support information. I have loaded quite a lot of data onto the subscriber pages that I hope will fill a void if something is confusing. It is my intention to keep adding. My only problem is time. Please be patient, I have a lot of ideas and welcome ideas from my subscribers but it will take time for the PREMIUM SERVICE to evolve.\r\n\r\nWhat in interesting trading week we have just seen. I could never have predicted the volatility. The Bank of Canada, China PMi and Eurozone PMi all had a part to play in the volatility. There were some mega moves, that I wouldn’t chase and frankly at the time I did not believe they were true moves.\r\n\r\nGreat money was made on big moves with the USD/CAD, EUR/CAD and GBP/CAD on Wednesday. NZD/CAD on Thursday/Friday and then on Friday BOE Carney spoke in London and GBP/CAD gave some profits back and EUR/CAD netted some profits to kind of hedge the cables losses.\r\n\r\nOverall for me it was a very profitable week. If you took my suggested trades and mix in micro, mini and standard lot trading depending on the pairs traded (I will go into this in detail next week in this blog), you would be very happy I hope with your returns.\r\n\r\nI notice that not very many of you have signed up for “Twitter” updates via @ThePremService. I list all my thoughts here as the week progresses as well as all the trade set-ups. Not all of my thoughts are repeated here in this blog. But, as promised I will post here a full and complete list each weekend of trade set-ups that interest me. I would also add however, I do not chase the market; I will not trade for the sake of trading. I trade only to make money and I manage my risk, very, very tightly. Therefore sometimes there may NOT be many set-ups listed.\r\n\r\nPlease bear this in mind. The market is what it is. If I do not like what I see I do NOT trade. I am conservative and cautious with my approach.\r\n\r\n&nbsp;\r\n\r\n<b><span style=\"text-decoration: underline;\">2. RADAR, FLASH and FUNDAMENTAL TRADES - TRADING SUMMARY:</span></b>\r\n<p align=\"center\"><b><span style=\"text-decoration: underline;\">JANUARY 2014 and YEAR to date:</span></b></p>\r\nBelow I show the up to date excel spreadsheets for my various trading styles, which I shall explain in more detail later in this blog.<span style=\"line-height: 1.5em;\"> </span>\r\n<p align=\"center\"><a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/01/RADAR-TRADES-1-25.01.2014.png\"><img class=\"aligncenter size-full wp-image-3144\" alt=\"RADAR TRADES 1 25.01.2014\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/01/RADAR-TRADES-1-25.01.2014.png\" width=\"536\" height=\"469\" /></a><b></b></p>\r\n<p align=\"center\"><a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/01/RADAR-TRADES-2-25.01.2014.png\"><img class=\"aligncenter size-full wp-image-3145\" alt=\"RADAR TRADES 2 25.01.2014\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/01/RADAR-TRADES-2-25.01.2014.png\" width=\"526\" height=\"471\" /></a></p>\r\n<p align=\"center\"><b><span style=\"text-decoration: underline;\">PROFITS FROM SINGLE LOT COMPLETED RADAR TRADES:</span></b></p>\r\n<p align=\"center\">1 x MICRO-LOT:\r\n18 trades at $0.10 cents each = $1.80 cents risk for a $2.80 loss.</p>\r\n<p align=\"center\">1 x MINI-LOT:\r\n18 trades at $1.00 each = $18.00 risk for a $28.00 loss.</p>\r\n<p align=\"center\">1 x STANDARD LOT:\r\n18 trades at $10.00 each = $180.00 risk for a $280.00 loss.</p>\r\n&nbsp;\r\n<p style=\"text-align: center;\"><a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/01/FLASH-TRADES-25.01.2014.png\"><img class=\"aligncenter size-full wp-image-3146\" alt=\"FLASH TRADES 25.01.2014\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/01/FLASH-TRADES-25.01.2014.png\" width=\"494\" height=\"486\" /></a></p>\r\n&nbsp;\r\n<p align=\"center\"><b><span style=\"text-decoration: underline;\">PROFITS FROM SINGLE LOT COMPLETED FLASH TRADES:</span></b></p>\r\n<p align=\"center\">1 x MICRO-LOT:\r\n17 trades at $0.10 cents each = $1.70 cents risk for a $60.10 reward.</p>\r\n<p style=\"text-align: center;\">1 x MINI-LOT:\r\n17 trades at $1.00 each = $17.00 risk for a $601.00 reward.</p>\r\n<p style=\"text-align: center;\">1 x STANDARD LOT:\r\n17 trades at $10.00 each = $170.00 risk for a $6,010.00 reward.</p>\r\n<p style=\"text-align: center;\" align=\"center\"><b><span style=\"text-decoration: underline;\">COMBINED FLASH AND RADAR TRADES PROFIT PERFORMANCE</span></b></p>\r\n<p align=\"center\"><span style=\"text-decoration: underline;\">JANUARY</span><b><span style=\"text-decoration: underline;\"> 2014…SO FAR:</span></b></p>\r\n<p align=\"center\">(There are no FUNDAMENTAL TRADES at the present time)</p>\r\n<p align=\"center\">TRADING MICRO-LOTS:\r\n35 trades at $0.10 cents each = $3.50 risk for a $57.30 reward.</p>\r\n<p align=\"center\">TRADING MINI-LOTS:\r\n35 trades at $1.00 each = $35.00 risk for a $573.00 reward.</p>\r\n<p align=\"center\">TRADING STANDARD LOTS:\r\n35 trades at $10.00 each = $350.00 risk for a $5,730.00 reward.</p>\r\n&nbsp;\r\n\r\nThe profitability examples detailed above are based solely upon single lot trading, regardless of lot type. If multiple lot sizes are traded the profitability margins will be different than those shown.\r\n\r\nJust remember, trades are of different sizes, added to, profits are taken along the way the cost average moves and all trades are of different lot styles. I trade, micro lots, mini lots and standard lots across my brokers.\r\n\r\n&nbsp;\r\n\r\n<b><span style=\"text-decoration: underline;\">3. THE FUNDAMENTAL TRADERS OVERVIEW:</span></b>\r\n\r\nThis is the brief overview of how I arrived at how I trade the way I do:\r\n\r\nIf you have been following me on Twitter or by subscription to the free WEEKLY FX DRIVE-THRU blog over the past two years, you should be in no doubt that I am a fundamental trader first and then a technical trader to confirm my views to enter a trade in a certain direction.\r\n\r\nIt is true to say that over the past 6-8 months at least, due purely by the way the market has been behaving my trading style has adapted to work with the changes.\r\n\r\nIt is certainly true to say, in my opinion, that to trade longer-term you need nerves of steel and testicles to match.\r\n\r\nMy RADAR trades are basically based off support and resistance, whilst these levels and the Fibonacci indicators together with pivots work, momentum and directional trading is hard. Just look at the profits that I am making from trading. FLASH trades are certainly this month more successful than the RADAR trades.\r\n\r\nI still make from RADAR trades because I am trading multi lot positions and types of lots vary, but it is very fair to say Intra-day trading is easier. I just do not like it as much, but to be successful trader you have to be flexible with your approach and style.\r\n\r\nI still read umpteen reports, watch as much news as possible on the internet and TV to give me background information for trades, but predominantly I still consider myself fundamental although most trades are intra-day.\r\n\r\nMy daily routine is: to check the “Holy Trinity” before looking at news, the financial pages and other blogs that I follow, or that I am interested in. Even though I have blogged very recently about “THE GREAT MARKET DIS-CONNECT” the first things I check are: GOLD, OIL and COPPER.\r\n\r\nI trade the USD most of the time in one way or another “The Holy Trinity” is checked and then I look at my two lead indicating currency pairs AUD and CAD.\r\n\r\nThen I check market momentum, the U.S.10 year note, the USD majors to look for broad base USD strength or weakness.\r\n\r\nFinally I look to monthly, weekly and daily charts of my leading indicators to ascertain market direction.\r\n<p style=\"text-align: left;\">My daily routine / checklist:-</p>\r\n\r\n<ol style=\"text-align: center;\">\r\n	<li style=\"text-align: left;\">The Holy Trinity – GOLD, OIL and COPPER (USD, AUD, NZD, CAD and CHF influences).</li>\r\n	<li style=\"text-align: left;\">Scan news wires / Bloomberg / Yahoo finance / CNBC / broker headlines.</li>\r\n	<li style=\"text-align: left;\">AUD and CAD  (USD influence and S&amp;P).</li>\r\n	<li style=\"text-align: left;\">The 10 Year Note (JPY and CHF influences).</li>\r\n	<li style=\"text-align: left;\">USD majors via pressure charts for direction. (USD majors influence).</li>\r\n	<li style=\"text-align: left;\">Quick glance at Monthly, Weekly and Daily charts of USD majors (USD majors influence).</li>\r\n</ol>\r\nIn the coming weeks I will refer in this section to how I interpret the news articles that interest me. Initially I thought that a very brief overview would be of use to understand my methods and thoughts process\r\n\r\n&nbsp;\r\n\r\n<b><span style=\"text-decoration: underline;\">4. TRADER TOPICS:</span></b>\r\n\r\nI use three different types of trading styles. These are referred to in Twitter posts and will be used in these blogs and you would have seen these styles listed inside the subscriber section as well.\r\n\r\n<i>PLEASE NOTE: Before I post any entries I know my risk and I have my exit level in mind. I may allow some tolerance but risk comes first in ALL trades for me.</i>\r\n\r\n<b>FLASH TRADES:</b> - are intra-day trades that I take on the “Pullback Strategy”, these tend to be more scalping trades but they can evolve into swing trade set-ups.\r\n\r\n<b>RADAR TRADES:</b> - are based on areas of support and resistance. This is where in my opinion we are at points of interest when buying and selling pressures converge and increase and I believe that buyers or sellers will be more active to move the currency pair more often than not in the opposite direction (that they have been trending). I use Fibonacci levels and Pivots to help me calculate the best entry and exit levels.\r\n\r\n<b>FUNDAMENTAL TRADES: </b>-<b> </b>this is a new trading style for me. These will be my ultra long trades. Tiny positions to start with and I want to be able to let these run for months hopefully. Stops will be in line with monthly ATR’s and basically I am looking for trades that are on “an unwind” or “bouncing off a generational level of support or resistance”. I have two trades in mind and I am hoping to take these trades over the coming week or so.\r\n\r\nIn the coming weeks, I have been asked to review the following in this section: -\r\n<ul>\r\n	<li>TRADE PLANS.</li>\r\n	<li>HOW MANY BROKERS SHOULD YOU HAVE?</li>\r\n	<li>WHAT TRADES TO TAKE WITH WHAT BROKERS.</li>\r\n</ul>\r\n&nbsp;\r\n\r\n<b><span style=\"text-decoration: underline;\">5. MY CURRENT LIVE TRADES:</span></b>\r\n\r\nI have no live FLASH, RADAR or FUNDAMENTAL trades in play at the moment.\r\n\r\n<b><span style=\"text-decoration: underline;\">6. TRADES THAT ARE ON MY RADAR:</span></b>\r\n\r\nThe following RADAR trades are on my mind at the moment. The market is over-stretched at present and levels are at extremes. So my suggested entry levels  will require good pullbacks for these to trigger.\r\n\r\nThey are listed below and I will NOT add these to my various brokers until Sunday evening after the open. I will tweet once I have added them into my brokers. If there is major news over the weekend I will tweet what I am doing regarding these set-ups.\r\n<p style=\"text-align: center;\">  <strong>USD/CAD\r\nLong\r\nEntry Level: 1.0950\r\nStop Loss: 1.0800\r\nLimit / Target: 1.1250</strong></p>\r\n\r\n<h4 align=\"center\"> EUR/CAD\r\nLong\r\nEntry Level: 1.5100\r\nStop Loss: 1.4980\r\nLimit / Target; 1.5700</h4>\r\n<h4 align=\"center\"> GBP/CAD\r\nLong\r\nEntry Level: 1.7980\r\nStop Loss: 1.7800\r\nLimit / Target: 1.8750</h4>\r\n<h4 align=\"center\"> USD/JPY\r\nShort\r\nEntry Level: 102.75\r\nStop Loss: 103.40\r\nLimit / Target: 99.80</h4>\r\n<h4 style=\"text-align: center;\"> AUD/USD\r\nShort\r\nEntry Level: 0.8750\r\nStop Loss: 0.8840\r\nLimit / Target: 0.8000</h4>\r\n<h4 align=\"center\"> AUD/NZD\r\nShort\r\nEntry Level: 1.0750\r\nStop Loss: 1.0900\r\nLimit / Target: 1.0425</h4>\r\n<p align=\"center\">I am looking at the following trades as potential FUNDAMENTAL TRADES. These pairs are un-winding. There are thousands of potential pips available. I still want the correct entry levels. I want to see another few days of action and have the next FED meeting out of the way before entering.</p>\r\n<p align=\"center\"><strong> EUR/AUD\r\nLong\r\nEntry Level: 1.5600\r\nStop Loss: 1.5460\r\nLimit / Target: 1.7500</strong></p>\r\n<p align=\"center\"><strong> GBP/AUD\r\nLong\r\nEntry Level: 1.8700\r\nStop Loss: 1. 8520\r\nLimit / Target: 2.2200</strong></p>\r\n<b></b><b><span style=\"text-decoration: underline;\">\r\n</span></b>\r\n\r\n<b><span style=\"text-decoration: underline;\">7. LOOKING FORWARD…THE KEY SUPPORT &amp; RESISTANCE LEVELS WITH THE USD MAJORS:</span></b><b> </b>\r\n\r\n<b>EUR/USD: Closing Price 1.3674.</b>  We ended the week close to previous resistance now current support at 1.3670. A break below here sets us back up for another run at 1.3550. Draghi speaking in Davos on Friday spoke about the Eurozone improvements in the past 12 months. Yeah right…go tell that to record millions in unemployment lines. There is another Eurozone crisis on the horizon.  If Merkel and Draghi just got their heads out of their butts they would see the massive dis-connect in the single currency area. If 1.3670 holds we may see 1.3750 again. But remember the FOMC and tapering on Wednesday.\r\n\r\n<b>GBP/USD: Closing Price 1.6475.   </b>Carney showed his true colours on the state of the UK economy. Previous goal posts now removed and new rules are being set. No more forward guidance, back to the “Merve the Swerve” approach (Mervyn King, Carney’s predecessor at the BOE. The cable was demolished on Friday morning on the back of his comments. I lost money on the GBP/CAD at the same time…so bloody annoying. The range is 1.6460 to 1.6550.\r\n\r\n<b>AUD/USD: Closing Price 0.8679</b>.  About 100 pips lower in the week. It will not stop here. RBA Stevens sees 0.8500 as about right. Other RBA quotes are seeking 0.8000. An IMF report (I think, but not 100% certain) sees fair value at 0.6500. Dream on…that\'s a trade. I would call that an ARMAGEDDON TRADE. The range is 0.8650 to 0.8750.\r\n\r\n<b>NZD/USD: Closing Price 0.8212</b>.  This pair has little lower in the past week but given the volatility in the markets at the end of the day it represents not too much of a move. The AUD/NZD cross-rate is playing havoc with the AUD and the NZD.  Support at 0.8200 is critical now and resistance is till good at 0.8340.\r\n\r\n<b>USD/CAD: Closing Price 1.1086.  </b>We are still in breakout territory and I want to buy this pair again. Just not at these elevated levels, but pullbacks did not come back far enough for me, too picky I know. 1.1000 offers great support and resistance is good at 1.1125.\r\n\r\n<b>USD/CHF: Closing Price 0.8936</b>.  We closed yesterday on key lows around 0.8930. If this support gives way I can see 0.8850 once again. On the upside 0.9040 needs to be taken to set this pair bullish once again.\r\n\r\n<b>USD/JPY: Closing Price 102.32. </b> For this pair we saw a 200-pip drop in the week. Quite a move, and I think that there is further downside in the pair. As I said last week there are calls for 98.00. The range at the moment that I see is pretty straightforward with possibly more downside pressure in the pair in Asia on Sunday night at next week’s open. The range is 102.00 to 102.80.\r\n\r\n&nbsp;\r\n\r\n<b><span style=\"text-decoration: underline;\">8. MAJOR FOREX NEWS THIS WEEK THAT INTERESTS ME:</span></b>\r\n\r\nSUNDAY: N/A\r\n\r\nMONDAY: N/A.\r\n\r\nTUESDAY: N/A\r\n\r\nWEDNESDAY: GBP – BOE Carney speaks.\r\nWEDNESDAY: USD – FOMC Statement.\r\nWEDNESDAY: NZD – Cash Rate and RBNZ Rate Statement.\r\n\r\nTHURSDAY: NZD – RBNZ Wheeler speaks.\r\nTHURSDAY: AUD - PPi\r\n\r\nFRIDAY: CAD – GDP.\r\n\r\n<b><span style=\"text-decoration: underline;\">\r\n9. FINAL THOUGHTS:</span></b>\r\n\r\nI am expecting fireworks on Wednesday this week but for the rest of the week I am not expecting massive volatility. Having said that get ready for volatility!\r\n\r\nI have listed many potential trades in this blog. Let me confirm, I have not placed these limit orders with my brokers yet. Wait for twitter for confirmation if you are following these suggestions. If you are not yet signed up for Twitter, pleased give it serious consideration.\r\n\r\nI am expecting consolidation early next week. We have stretched the boundaries a little with some currencies and we need to work off oversold / over-bought conditions. But remember that the “FOMC fear”, may not allow consolidation and the thoughts of more tapering may keep volatile conditions in play.\r\n\r\nAlways, always remember. There is market everyday. You do not need to trade everyday to make your financial goals. Over the coming weeks I will visit as many topics on trading tips as possible to hopefully help and aid better trading success.\r\n\r\nGood luck and trade within your TRADE PLAN guidelines and most importantly use MONEY MANAGEMENT SKILLS to control your risks.\r\n\r\nScott Pickering\r\nThe Pip Accumulator\r\nSaturday January 25<sup>th</sup> 2014\r\n<span style=\"line-height: 1.5em;\">\r\nEMAIL / FOLLOW ME AT:\r\npremiumservice@weeklyfxdrivethru.com\r\nTwitter: @pipaccumulator\r\nTwitter: @ThePremService\r\n</span><span style=\"line-height: 1.5em;\">Google+/scottpickering\r\n</span><span style=\"line-height: 1.5em;\">StockTwits; thepipaccumulator</span>\r\n\r\n&nbsp;\r\n\r\n&nbsp;','#1 - 25.01.2014 - WE\'RE OFF TO A GREAT START','','publish','open','closed','','1-25-01-2014','','','2014-01-25 11:21:03','2014-01-25 16:21:03','',0,'https://weeklyfxdrivethru.com/?post_type=member_posts&#038;p=3153',0,'member_posts','',0),(3154,1,'2014-01-25 11:17:49','2014-01-25 16:17:49','25.01.2014<b> </b><b style=\"line-height: 1.5em;\"> </b>\r\n\r\n<b><span style=\"text-decoration: underline;\">1. INTRODUCTION:</span></b>\r\n\r\nWelcome to the very first PREMIUM SERVICE blog.\r\n\r\nOver the coming weeks / months I hope to bring to these pages some great trade set-ups and some essential and valuable trading support information. I have loaded quite a lot of data onto the subscriber pages that I hope will fill a void if something is confusing. It is my intention to keep adding. My only problem is time. Please be patient, I have a lot of ideas and welcome ideas from my subscribers but it will take time for the PREMIUM SERVICE to evolve.\r\n\r\nWhat in interesting trading week we have just seen. I could never have predicted the volatility. The Bank of Canada, China PMi and Eurozone PMi all had a part to play in the volatility. There were some mega moves, that I wouldn’t chase and frankly at the time I did not believe they were true moves.\r\n\r\nGreat money was made on big moves with the USD/CAD, EUR/CAD and GBP/CAD on Wednesday. NZD/CAD on Thursday/Friday and then on Friday BOE Carney spoke in London and GBP/CAD gave some profits back and EUR/CAD netted some profits to kind of hedge the cables losses.\r\n\r\nOverall for me it was a very profitable week. If you took my suggested trades and mix in micro, mini and standard lot trading depending on the pairs traded (I will go into this in detail next week in this blog), you would be very happy I hope with your returns.\r\n\r\nI notice that not very many of you have signed up for “Twitter” updates via @ThePremService. I list all my thoughts here as the week progresses as well as all the trade set-ups. Not all of my thoughts are repeated here in this blog. But, as promised I will post here a full and complete list each weekend of trade set-ups that interest me. I would also add however, I do not chase the market; I will not trade for the sake of trading. I trade only to make money and I manage my risk, very, very tightly. Therefore sometimes there may NOT be many set-ups listed.\r\n\r\nPlease bear this in mind. The market is what it is. If I do not like what I see I do NOT trade. I am conservative and cautious with my approach.\r\n\r\n&nbsp;\r\n\r\n<b><span style=\"text-decoration: underline;\">2. RADAR, FLASH and FUNDAMENTAL TRADES -TRADING SUMMARY:</span></b>\r\n<p align=\"center\"><b><span style=\"text-decoration: underline;\">JANUARY 2014 and YEAR to date:</span></b></p>\r\nBelow I show the up to date excel spreadsheets for my various trading styles, which I shall explain in more detail later in this blog.<span style=\"line-height: 1.5em;\"> </span>\r\n<p align=\"center\"><a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/01/RADAR-TRADES-1-25.01.2014.png\"><img class=\"aligncenter size-full wp-image-3144\" alt=\"RADAR TRADES 1 25.01.2014\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/01/RADAR-TRADES-1-25.01.2014.png\" width=\"536\" height=\"469\" /></a><b></b></p>\r\n<p align=\"center\"></p>\r\n<p align=\"center\"><a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/01/RADAR-TRADES-2-25.01.2014.png\"><img class=\"aligncenter size-full wp-image-3145\" alt=\"RADAR TRADES 2 25.01.2014\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/01/RADAR-TRADES-2-25.01.2014.png\" width=\"526\" height=\"471\" /></a></p>\r\n<p align=\"center\"></p>\r\n<p align=\"center\"><b><span style=\"text-decoration: underline;\">PROFITS FROM SINGLE LOT COMPLETED RADAR TRADES:</span></b></p>\r\n<p align=\"center\">1 x MICRO-LOT:\r\n18 trades at $0.10 cents each = $1.80 cents risk for a $2.80 loss.</p>\r\n<p align=\"center\">\r\n1 x MINI-LOT:\r\n18 trades at $1.00 each = $18.00 risk for a $28.00 loss.</p>\r\n<p align=\"center\">\r\n1 x STANDARD LOT:\r\n18 trades at $10.00 each = $180.00 risk for a $280.00 loss.</p>\r\n&nbsp;\r\n<p style=\"text-align: center;\"><a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/01/FLASH-TRADES-25.01.2014.png\"><img class=\"aligncenter size-full wp-image-3146\" alt=\"FLASH TRADES 25.01.2014\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/01/FLASH-TRADES-25.01.2014.png\" width=\"494\" height=\"486\" /></a></p>\r\n&nbsp;\r\n<p align=\"center\"><b><span style=\"text-decoration: underline;\">PROFITS FROM SINGLE LOT COMPLETED FLASH TRADES:</span></b></p>\r\n<p align=\"center\">1 x MICRO-LOT:\r\n17 trades at $0.10 cents each = $1.70 cents risk for a $60.10 reward.\r\n\r\n1 x MINI-LOT:\r\n17 trades at $1.00 each = $17.00 risk for a $601.00 reward.\r\n\r\n1 x STANDARD LOT:\r\n17 trades at $10.00 each = $170.00 risk for a $6,010.00 reward.</p>\r\n<p align=\"center\"></p>\r\n<p align=\"center\"><b><span style=\"text-decoration: underline;\">COMBINED FLASH AND RADAR TRADES PROFIT PERFORMANCE</span></b></p>\r\n<p align=\"center\"><b><span style=\"text-decoration: underline;\">JANUARY 2014…SO FAR:</span></b></p>\r\n<p align=\"center\">(There are no FUNDAMENTAL TRADES at the present time)</p>\r\n<p align=\"center\">\r\nTRADING MICRO-LOTS:\r\n35 trades at $0.10 cents each = $3.50 risk for a $57.30 reward.</p>\r\n<p align=\"center\">\r\nTRADING MINI-LOTS:\r\n35 trades at $1.00 each = $35.00 risk for a $573.00 reward.</p>\r\n<p align=\"center\">\r\nTRADING STANDARD LOTS:\r\n35 trades at $10.00 each = $350.00 risk for a $5,730.00 reward.</p>\r\nThe profitability examples detailed above are based solely upon single lot trading, regardless of lot type. If multiple lot sizes are traded the profitability margins will be different than those shown.\r\n\r\nJust remember, trades are of different sizes, added to, profits are taken along the way the cost average moves and all trades are of different lot styles. I trade, micro lots, mini lots and standard lots across my brokers.\r\n\r\n&nbsp;\r\n\r\n<b><span style=\"text-decoration: underline;\">3. THE FUNDAMENTAL TRADERS OVERVIEW:</span></b>\r\n\r\nThis is the brief overview of how I arrived at how I trade the way I do:\r\n\r\nIf you have been following me on Twitter or by subscription to the free WEEKLY FX DRIVE-THRU blog over the past two years, you should be in no doubt that I am a fundamental trader first and then a technical trader to confirm my views to enter a trade in a certain direction.\r\n\r\nIt is true to say that over the past 6-8 months at least, due purely by the way the market has been behaving my trading style has adapted to work with the changes.\r\n\r\nIt is certainly true to say, in my opinion, that to trade longer-term you need nerves of steel and testicles to match.\r\n\r\nMy RADAR trades are basically based off support and resistance, whilst these levels and the Fibonacci indicators together with pivots work, momentum and directional trading is hard. Just look at the profits that I am making from trading. FLASH trades are certainly this month more successful than the RADAR trades.\r\n\r\nI still make from RADAR trades because I am trading multi lot positions and types of lots vary, but it is very fair to say Intra-day trading is easier. I just do not like it as much, but to be successful trader you have to be flexible with your approach and style.\r\n\r\nI still read umpteen reports, watch as much news as possible on the internet and TV to give me background information for trades, but predominantly I still consider myself fundamental although most trades are intra-day.\r\n\r\nMy daily routine is: to check the “Holy Trinity” before looking at news, the financial pages and other blogs that I follow, or that I am interested in. Even though I have blogged very recently about “THE GREAT MARKET DIS-CONNECT” the first things I check are: GOLD, OIL and COPPER.\r\n\r\nI trade the USD most of the time in one way or another “The Holy Trinity” is checked and then I look at my two lead indicating currency pairs AUD and CAD.\r\n\r\nThen I check market momentum, the U.S.10 year note, the USD majors to look for broad base USD strength or weakness.\r\n\r\nFinally I look to monthly, weekly and daily charts of my leading indicators to ascertain market direction.\r\n<p style=\"text-align: left;\">My daily routine / checklist:-</p>\r\n\r\n<ol style=\"text-align: center;\">\r\n	<li style=\"text-align: left;\">The Holy Trinity – GOLD, OIL and COPPER (USD, AUD, NZD, CAD and CHF influences).</li>\r\n	<li style=\"text-align: left;\">Scan news wires / Bloomberg / Yahoo finance / CNBC / broker headlines.</li>\r\n	<li style=\"text-align: left;\">AUD and CAD  (USD influence and S&amp;P).</li>\r\n	<li style=\"text-align: left;\">The 10 Year Note (JPY and CHF influences).</li>\r\n	<li style=\"text-align: left;\">USD majors via pressure charts for direction. (USD majors influence).</li>\r\n	<li style=\"text-align: left;\">Quick glance at Monthly, Weekly and Daily charts of USD majors (USD majors influence).</li>\r\n</ol>\r\nIn the coming weeks I will refer in this section to how I interpret the news articles that interest me. Initially I thought that a very brief overview would be of use to understand my methods and thoughts process\r\n\r\n<b><span style=\"text-decoration: underline;\"> </span></b>\r\n\r\n<b><span style=\"text-decoration: underline;\">4. TRADER TOPICS:</span></b>\r\n\r\nI use three different types of trading styles. These are referred to in Twitter posts and will be used in these blogs and you would have seen these styles listed inside the subscriber section as well.\r\n\r\n<i>PLEASE NOTE: Before I post any entries I know my risk and I have my exit level in mind. I may allow some tolerance but risk comes first in ALL trades for me.</i>\r\n\r\n<b>FLASH TRADES:</b> - are intra-day trades that I take on the “Pullback Strategy”, these tend to be more scalping trades but they can evolve into swing trade set-ups.\r\n\r\n<b>RADAR TRADES:</b> - are based on areas of support and resistance. This is where in my opinion we are at points of interest when buying and selling pressures converge and increase and I believe that buyers or sellers will be more active to move the currency pair more often than not in the opposite direction (that they have been trending). I use Fibonacci levels and Pivots to help me calculate the best entry and exit levels.\r\n\r\n<b>FUNDAMENTAL TRADES: </b>-<b> </b>this is a new trading style for me. These will be my ultra long trades. Tiny positions to start with and I want to be able to let these run for months hopefully. Stops will be in line with monthly ATR’s and basically I am looking for trades that are on “an unwind” or “bouncing off a generational level of support or resistance”. I have two trades in mind and I am hoping to take these trades over the coming week or so.\r\n\r\nIn the coming weeks, I have been asked to review the following in this section: -\r\n<ul>\r\n	<li>TRADE PLANS.</li>\r\n	<li>HOW MANY BROKERS SHOULD YOU HAVE?</li>\r\n	<li>WHAT TRADES TO TAKE WITH WHAT BROKERS.</li>\r\n</ul>\r\n&nbsp;\r\n\r\n<b><span style=\"text-decoration: underline;\">5. MY CURRENT LIVE TRADES:</span></b>\r\n\r\nI have no live FLASH, RADAR or FUNDAMENTAL trades in play at the moment.\r\n<p align=\"center\"></p>\r\n<b><span style=\"text-decoration: underline;\">6. TRADES THAT ARE ON MY RADAR:</span></b>\r\n\r\nThe following RADAR trades are on my mind at the moment. The market is over-stretched at present and levels are at extremes. So my suggested entry levels  will require good pullbacks for these to trigger.\r\n\r\nThey are listed below and I will NOT add these to my various brokers until Sunday evening after the open. I will tweet once I have added them into my brokers. If there is major news over the weekend I will tweet what I am doing regarding these set-ups.\r\n<p style=\"text-align: center;\">  <strong>USD/CAD\r\nLong\r\nEntry Level: 1.0950\r\nStop Loss: 1.0800\r\nLimit / Target: 1.1250</strong></p>\r\n\r\n<h4 align=\"center\"> EUR/CAD\r\nLong\r\nEntry Level: 1.5100\r\nStop Loss: 1.4980\r\nLimit / Target; 1.5700</h4>\r\n<h4 align=\"center\"> GBP/CAD\r\nLong\r\nEntry Level: 1.7980\r\nStop Loss: 1.7800\r\nLimit / Target: 1.8750</h4>\r\n<h4 align=\"center\"> USD/JPY\r\nShort\r\nEntry Level: 102.75\r\nStop Loss: 103.40\r\nLimit / Target: 99.80</h4>\r\n<h4 style=\"text-align: center;\"> AUD/USD\r\nShort\r\nEntry Level: 0.8750\r\nStop Loss: 0.8840\r\nLimit / Target: 0.8000</h4>\r\n<h4 align=\"center\"> AUD/NZD\r\nShort\r\nEntry Level: 1.0750\r\nStop Loss: 1.0900\r\nLimit / Target: 1.0425</h4>\r\n<p align=\"center\">I am looking at the following trades as potential FUNDAMENTAL TRADES. These pairs are un-winding. There are thousands of potential pips available. I still want the correct entry levels. I want to see another few days of action and have the next FED meeting out of the way before entering.</p>\r\n<p align=\"center\"><strong> EUR/AUD\r\nLong\r\nEntry Level: 1.5600\r\nStop Loss: 1.5460\r\nLimit / Target: 1.7500</strong></p>\r\n<p align=\"center\"><strong> GBP/AUD\r\nLong\r\nEntry Level: 1.8700\r\nStop Loss: 1. 8520\r\nLimit / Target: 2.2200</strong></p>\r\n<b></b><b><span style=\"text-decoration: underline;\">\r\n</span></b>\r\n\r\n<b><span style=\"text-decoration: underline;\">7. LOOKING FORWARD…THE KEY SUPPORT &amp; RESISTANCE LEVELS WITH THE USD MAJORS:</span></b><b> </b>\r\n\r\n<b>EUR/USD: Closing Price 1.3674.</b>  We ended the week close to previous resistance now current support at 1.3670. A break below here sets us back up for another run at 1.3550. Draghi speaking in Davos on Friday spoke about the Eurozone improvements in the past 12 months. Yeah right…go tell that to record millions in unemployment lines. There is another Eurozone crisis on the horizon.  If Merkel and Draghi just got their heads out of their butts they would see the massive dis-connect in the single currency area. If 1.3670 holds we may see 1.3750 again. But remember the FOMC and tapering on Wednesday.\r\n\r\n<b>GBP/USD: Closing Price 1.6475.   </b>Carney showed his true colours on the state of the UK economy. Previous goal posts now removed and new rules are being set. No more forward guidance, back to the “Merve the Swerve” approach (Mervyn King, Carney’s predecessor at the BOE. The cable was demolished on Friday morning on the back of his comments. I lost money on the GBP/CAD at the same time…so bloody annoying. The range is 1.6460 to 1.6550.\r\n\r\n<b>AUD/USD: Closing Price 0.8679</b>.  About 100 pips lower in the week. It will not stop here. RBA Stevens sees 0.8500 as about right. Other RBA quotes are seeking 0.8000. An IMF report (I think, but not 100% certain) sees fair value at 0.6500. Dream on…that\'s a trade. I would call that an ARMAGEDDON TRADE. The range is 0.8650 to 0.8750.\r\n\r\n<b>NZD/USD: Closing Price 0.8212</b>.  This pair has little lower in the past week but given the volatility in the markets at the end of the day it represents not too much of a move. The AUD/NZD cross-rate is playing havoc with the AUD and the NZD.  Support at 0.8200 is critical now and resistance is till good at 0.8340.\r\n\r\n<b>USD/CAD: Closing Price 1.1086.  </b>We are still in breakout territory and I want to buy this pair again. Just not at these elevated levels, but pullbacks did not come back far enough for me, too picky I know. 1.1000 offers great support and resistance is good at 1.1125.\r\n\r\n<b>USD/CHF: Closing Price 0.8936</b>.  We closed yesterday on key lows around 0.8930. If this support gives way I can see 0.8850 once again. On the upside 0.9040 needs to be taken to set this pair bullish once again.\r\n\r\n<b>USD/JPY: Closing Price 102.32. </b> For this pair we saw a 200-pip drop in the week. Quite a move, and I think that there is further downside in the pair. As I said last week there are calls for 98.00. The range at the moment that I see is pretty straightforward with possibly more downside pressure in the pair in Asia on Sunday night at next week’s open. The range is 102.00 to 102.80.\r\n\r\n&nbsp;\r\n\r\n<b><span style=\"text-decoration: underline;\">8. MAJOR FOREX NEWS THIS WEEK THAT INTERESTS ME:</span></b>\r\n\r\nSUNDAY: N/A\r\n\r\nMONDAY: N/A.\r\n\r\nTUESDAY: N/A\r\n\r\nWEDNESDAY: GBP – BOE Carney speaks.\r\nWEDNESDAY: USD – FOMC Statement.\r\nWEDNESDAY: NZD – Cash Rate and RBNZ Rate Statement.\r\n\r\nTHURSDAY: NZD – RBNZ Wheeler speaks.\r\nTHURSDAY: AUD - PPi\r\n\r\nFRIDAY: CAD – GDP.\r\n\r\n<b><span style=\"text-decoration: underline;\">\r\n9. FINAL THOUGHTS:</span></b>\r\n\r\nI am expecting fireworks on Wednesday this week but for the rest of the week I am not expecting massive volatility. Having said that get ready for volatility!\r\n\r\nI have listed many potential trades in this blog. Let me confirm, I have not placed these limit orders with my brokers yet. Wait for twitter for confirmation if you are following these suggestions. If you are not yet signed up for Twitter, pleased give it serious consideration.\r\n\r\nI am expecting consolidation early next week. We have stretched the boundaries a little with some currencies and we need to work off oversold / over-bought conditions. But remember that the “FOMC fear”, may not allow consolidation and the thoughts of more tapering may keep volatile conditions in play.\r\n\r\nAlways, always remember. There is market everyday. You do not need to trade everyday to make your financial goals. Over the coming weeks I will visit as many topics on trading tips as possible to hopefully help and aid better trading success.\r\n\r\nGood luck and trade within your TRADE PLAN guidelines and most importantly use MONEY MANGEMENT SKILLS to control your risks.\r\n\r\nScott Pickering\r\nThe Pip Accumulator\r\nSaturday January 25<sup>th</sup> 2014\r\n<span style=\"line-height: 1.5em;\">\r\nEMAIL / FOLLOW ME AT:\r\npremiumservice@weeklyfxdrivethru.com\r\nTwitter: @pipaccumulator\r\nTwitter: @ThePremService\r\n</span><span style=\"line-height: 1.5em;\">Google+/scottpickering\r\n</span><span style=\"line-height: 1.5em;\">StockTwits; thepipaccumulator</span>\r\n\r\n&nbsp;\r\n\r\n&nbsp;','#1 - 25.01.2014','','inherit','open','closed','','3153-revision-v1','','','2014-01-25 11:17:49','2014-01-25 16:17:49','',3153,'https://weeklyfxdrivethru.com/3153-revision-v1/',0,'revision','',0),(3155,1,'2014-01-25 11:19:52','2014-01-25 16:19:52','25.01.2014<b> </b><b style=\"line-height: 1.5em;\"> </b>\r\n\r\n<b><span style=\"text-decoration: underline;\">1. INTRODUCTION:</span></b>\r\n\r\nWelcome to the very first PREMIUM SERVICE blog.\r\n\r\nOver the coming weeks / months I hope to bring to these pages some great trade set-ups and some essential and valuable trading support information. I have loaded quite a lot of data onto the subscriber pages that I hope will fill a void if something is confusing. It is my intention to keep adding. My only problem is time. Please be patient, I have a lot of ideas and welcome ideas from my subscribers but it will take time for the PREMIUM SERVICE to evolve.\r\n\r\nWhat in interesting trading week we have just seen. I could never have predicted the volatility. The Bank of Canada, China PMi and Eurozone PMi all had a part to play in the volatility. There were some mega moves, that I wouldn’t chase and frankly at the time I did not believe they were true moves.\r\n\r\nGreat money was made on big moves with the USD/CAD, EUR/CAD and GBP/CAD on Wednesday. NZD/CAD on Thursday/Friday and then on Friday BOE Carney spoke in London and GBP/CAD gave some profits back and EUR/CAD netted some profits to kind of hedge the cables losses.\r\n\r\nOverall for me it was a very profitable week. If you took my suggested trades and mix in micro, mini and standard lot trading depending on the pairs traded (I will go into this in detail next week in this blog), you would be very happy I hope with your returns.\r\n\r\nI notice that not very many of you have signed up for “Twitter” updates via @ThePremService. I list all my thoughts here as the week progresses as well as all the trade set-ups. Not all of my thoughts are repeated here in this blog. But, as promised I will post here a full and complete list each weekend of trade set-ups that interest me. I would also add however, I do not chase the market; I will not trade for the sake of trading. I trade only to make money and I manage my risk, very, very tightly. Therefore sometimes there may NOT be many set-ups listed.\r\n\r\nPlease bear this in mind. The market is what it is. If I do not like what I see I do NOT trade. I am conservative and cautious with my approach.\r\n\r\n&nbsp;\r\n\r\n<b><span style=\"text-decoration: underline;\">2. RADAR, FLASH and FUNDAMENTAL TRADES - TRADING SUMMARY:</span></b>\r\n<p align=\"center\"><b><span style=\"text-decoration: underline;\">JANUARY 2014 and YEAR to date:</span></b></p>\r\nBelow I show the up to date excel spreadsheets for my various trading styles, which I shall explain in more detail later in this blog.<span style=\"line-height: 1.5em;\"> </span>\r\n<p align=\"center\"><a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/01/RADAR-TRADES-1-25.01.2014.png\"><img class=\"aligncenter size-full wp-image-3144\" alt=\"RADAR TRADES 1 25.01.2014\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/01/RADAR-TRADES-1-25.01.2014.png\" width=\"536\" height=\"469\" /></a><b></b></p>\r\n<p align=\"center\"><a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/01/RADAR-TRADES-2-25.01.2014.png\"><img class=\"aligncenter size-full wp-image-3145\" alt=\"RADAR TRADES 2 25.01.2014\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/01/RADAR-TRADES-2-25.01.2014.png\" width=\"526\" height=\"471\" /></a></p>\r\n<p align=\"center\"><b><span style=\"text-decoration: underline;\">PROFITS FROM SINGLE LOT COMPLETED RADAR TRADES:</span></b></p>\r\n<p align=\"center\">1 x MICRO-LOT:\r\n18 trades at $0.10 cents each = $1.80 cents risk for a $2.80 loss.</p>\r\n<p align=\"center\">1 x MINI-LOT:\r\n18 trades at $1.00 each = $18.00 risk for a $28.00 loss.</p>\r\n<p align=\"center\">1 x STANDARD LOT:\r\n18 trades at $10.00 each = $180.00 risk for a $280.00 loss.</p>\r\n&nbsp;\r\n<p style=\"text-align: center;\"><a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/01/FLASH-TRADES-25.01.2014.png\"><img class=\"aligncenter size-full wp-image-3146\" alt=\"FLASH TRADES 25.01.2014\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/01/FLASH-TRADES-25.01.2014.png\" width=\"494\" height=\"486\" /></a></p>\r\n&nbsp;\r\n<p align=\"center\"><b><span style=\"text-decoration: underline;\">PROFITS FROM SINGLE LOT COMPLETED FLASH TRADES:</span></b></p>\r\n<p align=\"center\">1 x MICRO-LOT:\r\n17 trades at $0.10 cents each = $1.70 cents risk for a $60.10 reward.</p>\r\n<p style=\"text-align: center;\">1 x MINI-LOT:\r\n17 trades at $1.00 each = $17.00 risk for a $601.00 reward.</p>\r\n<p style=\"text-align: center;\">1 x STANDARD LOT:\r\n17 trades at $10.00 each = $170.00 risk for a $6,010.00 reward.</p>\r\n<p style=\"text-align: center;\" align=\"center\"></p>\r\n<p style=\"text-align: center;\" align=\"center\"><b><span style=\"text-decoration: underline;\">COMBINED FLASH AND RADAR TRADES PROFIT PERFORMANCE</span></b></p>\r\n<p align=\"center\"><span style=\"text-decoration: underline;\">JANUARY</span><b><span style=\"text-decoration: underline;\"> 2014…SO FAR:</span></b></p>\r\n<p align=\"center\">(There are no FUNDAMENTAL TRADES at the present time)</p>\r\n<p align=\"center\">TRADING MICRO-LOTS:\r\n35 trades at $0.10 cents each = $3.50 risk for a $57.30 reward.</p>\r\n<p align=\"center\">TRADING MINI-LOTS:\r\n35 trades at $1.00 each = $35.00 risk for a $573.00 reward.</p>\r\n<p align=\"center\">TRADING STANDARD LOTS:\r\n35 trades at $10.00 each = $350.00 risk for a $5,730.00 reward.</p>\r\n&nbsp;\r\n\r\nThe profitability examples detailed above are based solely upon single lot trading, regardless of lot type. If multiple lot sizes are traded the profitability margins will be different than those shown.\r\n\r\nJust remember, trades are of different sizes, added to, profits are taken along the way the cost average moves and all trades are of different lot styles. I trade, micro lots, mini lots and standard lots across my brokers.\r\n\r\n&nbsp;\r\n\r\n<b><span style=\"text-decoration: underline;\">3. THE FUNDAMENTAL TRADERS OVERVIEW:</span></b>\r\n\r\nThis is the brief overview of how I arrived at how I trade the way I do:\r\n\r\nIf you have been following me on Twitter or by subscription to the free WEEKLY FX DRIVE-THRU blog over the past two years, you should be in no doubt that I am a fundamental trader first and then a technical trader to confirm my views to enter a trade in a certain direction.\r\n\r\nIt is true to say that over the past 6-8 months at least, due purely by the way the market has been behaving my trading style has adapted to work with the changes.\r\n\r\nIt is certainly true to say, in my opinion, that to trade longer-term you need nerves of steel and testicles to match.\r\n\r\nMy RADAR trades are basically based off support and resistance, whilst these levels and the Fibonacci indicators together with pivots work, momentum and directional trading is hard. Just look at the profits that I am making from trading. FLASH trades are certainly this month more successful than the RADAR trades.\r\n\r\nI still make from RADAR trades because I am trading multi lot positions and types of lots vary, but it is very fair to say Intra-day trading is easier. I just do not like it as much, but to be successful trader you have to be flexible with your approach and style.\r\n\r\nI still read umpteen reports, watch as much news as possible on the internet and TV to give me background information for trades, but predominantly I still consider myself fundamental although most trades are intra-day.\r\n\r\nMy daily routine is: to check the “Holy Trinity” before looking at news, the financial pages and other blogs that I follow, or that I am interested in. Even though I have blogged very recently about “THE GREAT MARKET DIS-CONNECT” the first things I check are: GOLD, OIL and COPPER.\r\n\r\nI trade the USD most of the time in one way or another “The Holy Trinity” is checked and then I look at my two lead indicating currency pairs AUD and CAD.\r\n\r\nThen I check market momentum, the U.S.10 year note, the USD majors to look for broad base USD strength or weakness.\r\n\r\nFinally I look to monthly, weekly and daily charts of my leading indicators to ascertain market direction.\r\n<p style=\"text-align: left;\">My daily routine / checklist:-</p>\r\n\r\n<ol style=\"text-align: center;\">\r\n	<li style=\"text-align: left;\">The Holy Trinity – GOLD, OIL and COPPER (USD, AUD, NZD, CAD and CHF influences).</li>\r\n	<li style=\"text-align: left;\">Scan news wires / Bloomberg / Yahoo finance / CNBC / broker headlines.</li>\r\n	<li style=\"text-align: left;\">AUD and CAD  (USD influence and S&amp;P).</li>\r\n	<li style=\"text-align: left;\">The 10 Year Note (JPY and CHF influences).</li>\r\n	<li style=\"text-align: left;\">USD majors via pressure charts for direction. (USD majors influence).</li>\r\n	<li style=\"text-align: left;\">Quick glance at Monthly, Weekly and Daily charts of USD majors (USD majors influence).</li>\r\n</ol>\r\nIn the coming weeks I will refer in this section to how I interpret the news articles that interest me. Initially I thought that a very brief overview would be of use to understand my methods and thoughts process\r\n\r\n&nbsp;\r\n\r\n<b><span style=\"text-decoration: underline;\">4. TRADER TOPICS:</span></b>\r\n\r\nI use three different types of trading styles. These are referred to in Twitter posts and will be used in these blogs and you would have seen these styles listed inside the subscriber section as well.\r\n\r\n<i>PLEASE NOTE: Before I post any entries I know my risk and I have my exit level in mind. I may allow some tolerance but risk comes first in ALL trades for me.</i>\r\n\r\n<b>FLASH TRADES:</b> - are intra-day trades that I take on the “Pullback Strategy”, these tend to be more scalping trades but they can evolve into swing trade set-ups.\r\n\r\n<b>RADAR TRADES:</b> - are based on areas of support and resistance. This is where in my opinion we are at points of interest when buying and selling pressures converge and increase and I believe that buyers or sellers will be more active to move the currency pair more often than not in the opposite direction (that they have been trending). I use Fibonacci levels and Pivots to help me calculate the best entry and exit levels.\r\n\r\n<b>FUNDAMENTAL TRADES: </b>-<b> </b>this is a new trading style for me. These will be my ultra long trades. Tiny positions to start with and I want to be able to let these run for months hopefully. Stops will be in line with monthly ATR’s and basically I am looking for trades that are on “an unwind” or “bouncing off a generational level of support or resistance”. I have two trades in mind and I am hoping to take these trades over the coming week or so.\r\n\r\nIn the coming weeks, I have been asked to review the following in this section: -\r\n<ul>\r\n	<li>TRADE PLANS.</li>\r\n	<li>HOW MANY BROKERS SHOULD YOU HAVE?</li>\r\n	<li>WHAT TRADES TO TAKE WITH WHAT BROKERS.</li>\r\n</ul>\r\n&nbsp;\r\n\r\n<b><span style=\"text-decoration: underline;\">5. MY CURRENT LIVE TRADES:</span></b>\r\n\r\nI have no live FLASH, RADAR or FUNDAMENTAL trades in play at the moment.\r\n\r\n<b><span style=\"text-decoration: underline;\">6. TRADES THAT ARE ON MY RADAR:</span></b>\r\n\r\nThe following RADAR trades are on my mind at the moment. The market is over-stretched at present and levels are at extremes. So my suggested entry levels  will require good pullbacks for these to trigger.\r\n\r\nThey are listed below and I will NOT add these to my various brokers until Sunday evening after the open. I will tweet once I have added them into my brokers. If there is major news over the weekend I will tweet what I am doing regarding these set-ups.\r\n<p style=\"text-align: center;\">  <strong>USD/CAD\r\nLong\r\nEntry Level: 1.0950\r\nStop Loss: 1.0800\r\nLimit / Target: 1.1250</strong></p>\r\n\r\n<h4 align=\"center\"> EUR/CAD\r\nLong\r\nEntry Level: 1.5100\r\nStop Loss: 1.4980\r\nLimit / Target; 1.5700</h4>\r\n<h4 align=\"center\"> GBP/CAD\r\nLong\r\nEntry Level: 1.7980\r\nStop Loss: 1.7800\r\nLimit / Target: 1.8750</h4>\r\n<h4 align=\"center\"> USD/JPY\r\nShort\r\nEntry Level: 102.75\r\nStop Loss: 103.40\r\nLimit / Target: 99.80</h4>\r\n<h4 style=\"text-align: center;\"> AUD/USD\r\nShort\r\nEntry Level: 0.8750\r\nStop Loss: 0.8840\r\nLimit / Target: 0.8000</h4>\r\n<h4 align=\"center\"> AUD/NZD\r\nShort\r\nEntry Level: 1.0750\r\nStop Loss: 1.0900\r\nLimit / Target: 1.0425</h4>\r\n<p align=\"center\">I am looking at the following trades as potential FUNDAMENTAL TRADES. These pairs are un-winding. There are thousands of potential pips available. I still want the correct entry levels. I want to see another few days of action and have the next FED meeting out of the way before entering.</p>\r\n<p align=\"center\"><strong> EUR/AUD\r\nLong\r\nEntry Level: 1.5600\r\nStop Loss: 1.5460\r\nLimit / Target: 1.7500</strong></p>\r\n<p align=\"center\"><strong> GBP/AUD\r\nLong\r\nEntry Level: 1.8700\r\nStop Loss: 1. 8520\r\nLimit / Target: 2.2200</strong></p>\r\n<b></b><b><span style=\"text-decoration: underline;\">\r\n</span></b>\r\n\r\n<b><span style=\"text-decoration: underline;\">7. LOOKING FORWARD…THE KEY SUPPORT &amp; RESISTANCE LEVELS WITH THE USD MAJORS:</span></b><b> </b>\r\n\r\n<b>EUR/USD: Closing Price 1.3674.</b>  We ended the week close to previous resistance now current support at 1.3670. A break below here sets us back up for another run at 1.3550. Draghi speaking in Davos on Friday spoke about the Eurozone improvements in the past 12 months. Yeah right…go tell that to record millions in unemployment lines. There is another Eurozone crisis on the horizon.  If Merkel and Draghi just got their heads out of their butts they would see the massive dis-connect in the single currency area. If 1.3670 holds we may see 1.3750 again. But remember the FOMC and tapering on Wednesday.\r\n\r\n<b>GBP/USD: Closing Price 1.6475.   </b>Carney showed his true colours on the state of the UK economy. Previous goal posts now removed and new rules are being set. No more forward guidance, back to the “Merve the Swerve” approach (Mervyn King, Carney’s predecessor at the BOE. The cable was demolished on Friday morning on the back of his comments. I lost money on the GBP/CAD at the same time…so bloody annoying. The range is 1.6460 to 1.6550.\r\n\r\n<b>AUD/USD: Closing Price 0.8679</b>.  About 100 pips lower in the week. It will not stop here. RBA Stevens sees 0.8500 as about right. Other RBA quotes are seeking 0.8000. An IMF report (I think, but not 100% certain) sees fair value at 0.6500. Dream on…that\'s a trade. I would call that an ARMAGEDDON TRADE. The range is 0.8650 to 0.8750.\r\n\r\n<b>NZD/USD: Closing Price 0.8212</b>.  This pair has little lower in the past week but given the volatility in the markets at the end of the day it represents not too much of a move. The AUD/NZD cross-rate is playing havoc with the AUD and the NZD.  Support at 0.8200 is critical now and resistance is till good at 0.8340.\r\n\r\n<b>USD/CAD: Closing Price 1.1086.  </b>We are still in breakout territory and I want to buy this pair again. Just not at these elevated levels, but pullbacks did not come back far enough for me, too picky I know. 1.1000 offers great support and resistance is good at 1.1125.\r\n\r\n<b>USD/CHF: Closing Price 0.8936</b>.  We closed yesterday on key lows around 0.8930. If this support gives way I can see 0.8850 once again. On the upside 0.9040 needs to be taken to set this pair bullish once again.\r\n\r\n<b>USD/JPY: Closing Price 102.32. </b> For this pair we saw a 200-pip drop in the week. Quite a move, and I think that there is further downside in the pair. As I said last week there are calls for 98.00. The range at the moment that I see is pretty straightforward with possibly more downside pressure in the pair in Asia on Sunday night at next week’s open. The range is 102.00 to 102.80.\r\n\r\n&nbsp;\r\n\r\n<b><span style=\"text-decoration: underline;\">8. MAJOR FOREX NEWS THIS WEEK THAT INTERESTS ME:</span></b>\r\n\r\nSUNDAY: N/A\r\n\r\nMONDAY: N/A.\r\n\r\nTUESDAY: N/A\r\n\r\nWEDNESDAY: GBP – BOE Carney speaks.\r\nWEDNESDAY: USD – FOMC Statement.\r\nWEDNESDAY: NZD – Cash Rate and RBNZ Rate Statement.\r\n\r\nTHURSDAY: NZD – RBNZ Wheeler speaks.\r\nTHURSDAY: AUD - PPi\r\n\r\nFRIDAY: CAD – GDP.\r\n\r\n<b><span style=\"text-decoration: underline;\">\r\n9. FINAL THOUGHTS:</span></b>\r\n\r\nI am expecting fireworks on Wednesday this week but for the rest of the week I am not expecting massive volatility. Having said that get ready for volatility!\r\n\r\nI have listed many potential trades in this blog. Let me confirm, I have not placed these limit orders with my brokers yet. Wait for twitter for confirmation if you are following these suggestions. If you are not yet signed up for Twitter, pleased give it serious consideration.\r\n\r\nI am expecting consolidation early next week. We have stretched the boundaries a little with some currencies and we need to work off oversold / over-bought conditions. But remember that the “FOMC fear”, may not allow consolidation and the thoughts of more tapering may keep volatile conditions in play.\r\n\r\nAlways, always remember. There is market everyday. You do not need to trade everyday to make your financial goals. Over the coming weeks I will visit as many topics on trading tips as possible to hopefully help and aid better trading success.\r\n\r\nGood luck and trade within your TRADE PLAN guidelines and most importantly use MONEY MANAGEMENT SKILLS to control your risks.\r\n\r\nScott Pickering\r\nThe Pip Accumulator\r\nSaturday January 25<sup>th</sup> 2014\r\n<span style=\"line-height: 1.5em;\">\r\nEMAIL / FOLLOW ME AT:\r\npremiumservice@weeklyfxdrivethru.com\r\nTwitter: @pipaccumulator\r\nTwitter: @ThePremService\r\n</span><span style=\"line-height: 1.5em;\">Google+/scottpickering\r\n</span><span style=\"line-height: 1.5em;\">StockTwits; thepipaccumulator</span>\r\n\r\n&nbsp;\r\n\r\n&nbsp;','#1 - 25.01.2014','','inherit','open','closed','','3153-revision-v1','','','2014-01-25 11:19:52','2014-01-25 16:19:52','',3153,'https://weeklyfxdrivethru.com/3153-revision-v1/',0,'revision','',0),(3156,1,'2014-01-25 11:21:03','2014-01-25 16:21:03','25.01.2014<b> </b><b style=\"line-height: 1.5em;\"> </b>\r\n\r\n<b><span style=\"text-decoration: underline;\">1. INTRODUCTION:</span></b>\r\n\r\nWelcome to the very first PREMIUM SERVICE blog.\r\n\r\nOver the coming weeks / months I hope to bring to these pages some great trade set-ups and some essential and valuable trading support information. I have loaded quite a lot of data onto the subscriber pages that I hope will fill a void if something is confusing. It is my intention to keep adding. My only problem is time. Please be patient, I have a lot of ideas and welcome ideas from my subscribers but it will take time for the PREMIUM SERVICE to evolve.\r\n\r\nWhat in interesting trading week we have just seen. I could never have predicted the volatility. The Bank of Canada, China PMi and Eurozone PMi all had a part to play in the volatility. There were some mega moves, that I wouldn’t chase and frankly at the time I did not believe they were true moves.\r\n\r\nGreat money was made on big moves with the USD/CAD, EUR/CAD and GBP/CAD on Wednesday. NZD/CAD on Thursday/Friday and then on Friday BOE Carney spoke in London and GBP/CAD gave some profits back and EUR/CAD netted some profits to kind of hedge the cables losses.\r\n\r\nOverall for me it was a very profitable week. If you took my suggested trades and mix in micro, mini and standard lot trading depending on the pairs traded (I will go into this in detail next week in this blog), you would be very happy I hope with your returns.\r\n\r\nI notice that not very many of you have signed up for “Twitter” updates via @ThePremService. I list all my thoughts here as the week progresses as well as all the trade set-ups. Not all of my thoughts are repeated here in this blog. But, as promised I will post here a full and complete list each weekend of trade set-ups that interest me. I would also add however, I do not chase the market; I will not trade for the sake of trading. I trade only to make money and I manage my risk, very, very tightly. Therefore sometimes there may NOT be many set-ups listed.\r\n\r\nPlease bear this in mind. The market is what it is. If I do not like what I see I do NOT trade. I am conservative and cautious with my approach.\r\n\r\n&nbsp;\r\n\r\n<b><span style=\"text-decoration: underline;\">2. RADAR, FLASH and FUNDAMENTAL TRADES - TRADING SUMMARY:</span></b>\r\n<p align=\"center\"><b><span style=\"text-decoration: underline;\">JANUARY 2014 and YEAR to date:</span></b></p>\r\nBelow I show the up to date excel spreadsheets for my various trading styles, which I shall explain in more detail later in this blog.<span style=\"line-height: 1.5em;\"> </span>\r\n<p align=\"center\"><a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/01/RADAR-TRADES-1-25.01.2014.png\"><img class=\"aligncenter size-full wp-image-3144\" alt=\"RADAR TRADES 1 25.01.2014\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/01/RADAR-TRADES-1-25.01.2014.png\" width=\"536\" height=\"469\" /></a><b></b></p>\r\n<p align=\"center\"><a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/01/RADAR-TRADES-2-25.01.2014.png\"><img class=\"aligncenter size-full wp-image-3145\" alt=\"RADAR TRADES 2 25.01.2014\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/01/RADAR-TRADES-2-25.01.2014.png\" width=\"526\" height=\"471\" /></a></p>\r\n<p align=\"center\"><b><span style=\"text-decoration: underline;\">PROFITS FROM SINGLE LOT COMPLETED RADAR TRADES:</span></b></p>\r\n<p align=\"center\">1 x MICRO-LOT:\r\n18 trades at $0.10 cents each = $1.80 cents risk for a $2.80 loss.</p>\r\n<p align=\"center\">1 x MINI-LOT:\r\n18 trades at $1.00 each = $18.00 risk for a $28.00 loss.</p>\r\n<p align=\"center\">1 x STANDARD LOT:\r\n18 trades at $10.00 each = $180.00 risk for a $280.00 loss.</p>\r\n&nbsp;\r\n<p style=\"text-align: center;\"><a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/01/FLASH-TRADES-25.01.2014.png\"><img class=\"aligncenter size-full wp-image-3146\" alt=\"FLASH TRADES 25.01.2014\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/01/FLASH-TRADES-25.01.2014.png\" width=\"494\" height=\"486\" /></a></p>\r\n&nbsp;\r\n<p align=\"center\"><b><span style=\"text-decoration: underline;\">PROFITS FROM SINGLE LOT COMPLETED FLASH TRADES:</span></b></p>\r\n<p align=\"center\">1 x MICRO-LOT:\r\n17 trades at $0.10 cents each = $1.70 cents risk for a $60.10 reward.</p>\r\n<p style=\"text-align: center;\">1 x MINI-LOT:\r\n17 trades at $1.00 each = $17.00 risk for a $601.00 reward.</p>\r\n<p style=\"text-align: center;\">1 x STANDARD LOT:\r\n17 trades at $10.00 each = $170.00 risk for a $6,010.00 reward.</p>\r\n<p style=\"text-align: center;\" align=\"center\"><b><span style=\"text-decoration: underline;\">COMBINED FLASH AND RADAR TRADES PROFIT PERFORMANCE</span></b></p>\r\n<p align=\"center\"><span style=\"text-decoration: underline;\">JANUARY</span><b><span style=\"text-decoration: underline;\"> 2014…SO FAR:</span></b></p>\r\n<p align=\"center\">(There are no FUNDAMENTAL TRADES at the present time)</p>\r\n<p align=\"center\">TRADING MICRO-LOTS:\r\n35 trades at $0.10 cents each = $3.50 risk for a $57.30 reward.</p>\r\n<p align=\"center\">TRADING MINI-LOTS:\r\n35 trades at $1.00 each = $35.00 risk for a $573.00 reward.</p>\r\n<p align=\"center\">TRADING STANDARD LOTS:\r\n35 trades at $10.00 each = $350.00 risk for a $5,730.00 reward.</p>\r\n&nbsp;\r\n\r\nThe profitability examples detailed above are based solely upon single lot trading, regardless of lot type. If multiple lot sizes are traded the profitability margins will be different than those shown.\r\n\r\nJust remember, trades are of different sizes, added to, profits are taken along the way the cost average moves and all trades are of different lot styles. I trade, micro lots, mini lots and standard lots across my brokers.\r\n\r\n&nbsp;\r\n\r\n<b><span style=\"text-decoration: underline;\">3. THE FUNDAMENTAL TRADERS OVERVIEW:</span></b>\r\n\r\nThis is the brief overview of how I arrived at how I trade the way I do:\r\n\r\nIf you have been following me on Twitter or by subscription to the free WEEKLY FX DRIVE-THRU blog over the past two years, you should be in no doubt that I am a fundamental trader first and then a technical trader to confirm my views to enter a trade in a certain direction.\r\n\r\nIt is true to say that over the past 6-8 months at least, due purely by the way the market has been behaving my trading style has adapted to work with the changes.\r\n\r\nIt is certainly true to say, in my opinion, that to trade longer-term you need nerves of steel and testicles to match.\r\n\r\nMy RADAR trades are basically based off support and resistance, whilst these levels and the Fibonacci indicators together with pivots work, momentum and directional trading is hard. Just look at the profits that I am making from trading. FLASH trades are certainly this month more successful than the RADAR trades.\r\n\r\nI still make from RADAR trades because I am trading multi lot positions and types of lots vary, but it is very fair to say Intra-day trading is easier. I just do not like it as much, but to be successful trader you have to be flexible with your approach and style.\r\n\r\nI still read umpteen reports, watch as much news as possible on the internet and TV to give me background information for trades, but predominantly I still consider myself fundamental although most trades are intra-day.\r\n\r\nMy daily routine is: to check the “Holy Trinity” before looking at news, the financial pages and other blogs that I follow, or that I am interested in. Even though I have blogged very recently about “THE GREAT MARKET DIS-CONNECT” the first things I check are: GOLD, OIL and COPPER.\r\n\r\nI trade the USD most of the time in one way or another “The Holy Trinity” is checked and then I look at my two lead indicating currency pairs AUD and CAD.\r\n\r\nThen I check market momentum, the U.S.10 year note, the USD majors to look for broad base USD strength or weakness.\r\n\r\nFinally I look to monthly, weekly and daily charts of my leading indicators to ascertain market direction.\r\n<p style=\"text-align: left;\">My daily routine / checklist:-</p>\r\n\r\n<ol style=\"text-align: center;\">\r\n	<li style=\"text-align: left;\">The Holy Trinity – GOLD, OIL and COPPER (USD, AUD, NZD, CAD and CHF influences).</li>\r\n	<li style=\"text-align: left;\">Scan news wires / Bloomberg / Yahoo finance / CNBC / broker headlines.</li>\r\n	<li style=\"text-align: left;\">AUD and CAD  (USD influence and S&amp;P).</li>\r\n	<li style=\"text-align: left;\">The 10 Year Note (JPY and CHF influences).</li>\r\n	<li style=\"text-align: left;\">USD majors via pressure charts for direction. (USD majors influence).</li>\r\n	<li style=\"text-align: left;\">Quick glance at Monthly, Weekly and Daily charts of USD majors (USD majors influence).</li>\r\n</ol>\r\nIn the coming weeks I will refer in this section to how I interpret the news articles that interest me. Initially I thought that a very brief overview would be of use to understand my methods and thoughts process\r\n\r\n&nbsp;\r\n\r\n<b><span style=\"text-decoration: underline;\">4. TRADER TOPICS:</span></b>\r\n\r\nI use three different types of trading styles. These are referred to in Twitter posts and will be used in these blogs and you would have seen these styles listed inside the subscriber section as well.\r\n\r\n<i>PLEASE NOTE: Before I post any entries I know my risk and I have my exit level in mind. I may allow some tolerance but risk comes first in ALL trades for me.</i>\r\n\r\n<b>FLASH TRADES:</b> - are intra-day trades that I take on the “Pullback Strategy”, these tend to be more scalping trades but they can evolve into swing trade set-ups.\r\n\r\n<b>RADAR TRADES:</b> - are based on areas of support and resistance. This is where in my opinion we are at points of interest when buying and selling pressures converge and increase and I believe that buyers or sellers will be more active to move the currency pair more often than not in the opposite direction (that they have been trending). I use Fibonacci levels and Pivots to help me calculate the best entry and exit levels.\r\n\r\n<b>FUNDAMENTAL TRADES: </b>-<b> </b>this is a new trading style for me. These will be my ultra long trades. Tiny positions to start with and I want to be able to let these run for months hopefully. Stops will be in line with monthly ATR’s and basically I am looking for trades that are on “an unwind” or “bouncing off a generational level of support or resistance”. I have two trades in mind and I am hoping to take these trades over the coming week or so.\r\n\r\nIn the coming weeks, I have been asked to review the following in this section: -\r\n<ul>\r\n	<li>TRADE PLANS.</li>\r\n	<li>HOW MANY BROKERS SHOULD YOU HAVE?</li>\r\n	<li>WHAT TRADES TO TAKE WITH WHAT BROKERS.</li>\r\n</ul>\r\n&nbsp;\r\n\r\n<b><span style=\"text-decoration: underline;\">5. MY CURRENT LIVE TRADES:</span></b>\r\n\r\nI have no live FLASH, RADAR or FUNDAMENTAL trades in play at the moment.\r\n\r\n<b><span style=\"text-decoration: underline;\">6. TRADES THAT ARE ON MY RADAR:</span></b>\r\n\r\nThe following RADAR trades are on my mind at the moment. The market is over-stretched at present and levels are at extremes. So my suggested entry levels  will require good pullbacks for these to trigger.\r\n\r\nThey are listed below and I will NOT add these to my various brokers until Sunday evening after the open. I will tweet once I have added them into my brokers. If there is major news over the weekend I will tweet what I am doing regarding these set-ups.\r\n<p style=\"text-align: center;\">  <strong>USD/CAD\r\nLong\r\nEntry Level: 1.0950\r\nStop Loss: 1.0800\r\nLimit / Target: 1.1250</strong></p>\r\n\r\n<h4 align=\"center\"> EUR/CAD\r\nLong\r\nEntry Level: 1.5100\r\nStop Loss: 1.4980\r\nLimit / Target; 1.5700</h4>\r\n<h4 align=\"center\"> GBP/CAD\r\nLong\r\nEntry Level: 1.7980\r\nStop Loss: 1.7800\r\nLimit / Target: 1.8750</h4>\r\n<h4 align=\"center\"> USD/JPY\r\nShort\r\nEntry Level: 102.75\r\nStop Loss: 103.40\r\nLimit / Target: 99.80</h4>\r\n<h4 style=\"text-align: center;\"> AUD/USD\r\nShort\r\nEntry Level: 0.8750\r\nStop Loss: 0.8840\r\nLimit / Target: 0.8000</h4>\r\n<h4 align=\"center\"> AUD/NZD\r\nShort\r\nEntry Level: 1.0750\r\nStop Loss: 1.0900\r\nLimit / Target: 1.0425</h4>\r\n<p align=\"center\">I am looking at the following trades as potential FUNDAMENTAL TRADES. These pairs are un-winding. There are thousands of potential pips available. I still want the correct entry levels. I want to see another few days of action and have the next FED meeting out of the way before entering.</p>\r\n<p align=\"center\"><strong> EUR/AUD\r\nLong\r\nEntry Level: 1.5600\r\nStop Loss: 1.5460\r\nLimit / Target: 1.7500</strong></p>\r\n<p align=\"center\"><strong> GBP/AUD\r\nLong\r\nEntry Level: 1.8700\r\nStop Loss: 1. 8520\r\nLimit / Target: 2.2200</strong></p>\r\n<b></b><b><span style=\"text-decoration: underline;\">\r\n</span></b>\r\n\r\n<b><span style=\"text-decoration: underline;\">7. LOOKING FORWARD…THE KEY SUPPORT &amp; RESISTANCE LEVELS WITH THE USD MAJORS:</span></b><b> </b>\r\n\r\n<b>EUR/USD: Closing Price 1.3674.</b>  We ended the week close to previous resistance now current support at 1.3670. A break below here sets us back up for another run at 1.3550. Draghi speaking in Davos on Friday spoke about the Eurozone improvements in the past 12 months. Yeah right…go tell that to record millions in unemployment lines. There is another Eurozone crisis on the horizon.  If Merkel and Draghi just got their heads out of their butts they would see the massive dis-connect in the single currency area. If 1.3670 holds we may see 1.3750 again. But remember the FOMC and tapering on Wednesday.\r\n\r\n<b>GBP/USD: Closing Price 1.6475.   </b>Carney showed his true colours on the state of the UK economy. Previous goal posts now removed and new rules are being set. No more forward guidance, back to the “Merve the Swerve” approach (Mervyn King, Carney’s predecessor at the BOE. The cable was demolished on Friday morning on the back of his comments. I lost money on the GBP/CAD at the same time…so bloody annoying. The range is 1.6460 to 1.6550.\r\n\r\n<b>AUD/USD: Closing Price 0.8679</b>.  About 100 pips lower in the week. It will not stop here. RBA Stevens sees 0.8500 as about right. Other RBA quotes are seeking 0.8000. An IMF report (I think, but not 100% certain) sees fair value at 0.6500. Dream on…that\'s a trade. I would call that an ARMAGEDDON TRADE. The range is 0.8650 to 0.8750.\r\n\r\n<b>NZD/USD: Closing Price 0.8212</b>.  This pair has little lower in the past week but given the volatility in the markets at the end of the day it represents not too much of a move. The AUD/NZD cross-rate is playing havoc with the AUD and the NZD.  Support at 0.8200 is critical now and resistance is till good at 0.8340.\r\n\r\n<b>USD/CAD: Closing Price 1.1086.  </b>We are still in breakout territory and I want to buy this pair again. Just not at these elevated levels, but pullbacks did not come back far enough for me, too picky I know. 1.1000 offers great support and resistance is good at 1.1125.\r\n\r\n<b>USD/CHF: Closing Price 0.8936</b>.  We closed yesterday on key lows around 0.8930. If this support gives way I can see 0.8850 once again. On the upside 0.9040 needs to be taken to set this pair bullish once again.\r\n\r\n<b>USD/JPY: Closing Price 102.32. </b> For this pair we saw a 200-pip drop in the week. Quite a move, and I think that there is further downside in the pair. As I said last week there are calls for 98.00. The range at the moment that I see is pretty straightforward with possibly more downside pressure in the pair in Asia on Sunday night at next week’s open. The range is 102.00 to 102.80.\r\n\r\n&nbsp;\r\n\r\n<b><span style=\"text-decoration: underline;\">8. MAJOR FOREX NEWS THIS WEEK THAT INTERESTS ME:</span></b>\r\n\r\nSUNDAY: N/A\r\n\r\nMONDAY: N/A.\r\n\r\nTUESDAY: N/A\r\n\r\nWEDNESDAY: GBP – BOE Carney speaks.\r\nWEDNESDAY: USD – FOMC Statement.\r\nWEDNESDAY: NZD – Cash Rate and RBNZ Rate Statement.\r\n\r\nTHURSDAY: NZD – RBNZ Wheeler speaks.\r\nTHURSDAY: AUD - PPi\r\n\r\nFRIDAY: CAD – GDP.\r\n\r\n<b><span style=\"text-decoration: underline;\">\r\n9. FINAL THOUGHTS:</span></b>\r\n\r\nI am expecting fireworks on Wednesday this week but for the rest of the week I am not expecting massive volatility. Having said that get ready for volatility!\r\n\r\nI have listed many potential trades in this blog. Let me confirm, I have not placed these limit orders with my brokers yet. Wait for twitter for confirmation if you are following these suggestions. If you are not yet signed up for Twitter, pleased give it serious consideration.\r\n\r\nI am expecting consolidation early next week. We have stretched the boundaries a little with some currencies and we need to work off oversold / over-bought conditions. But remember that the “FOMC fear”, may not allow consolidation and the thoughts of more tapering may keep volatile conditions in play.\r\n\r\nAlways, always remember. There is market everyday. You do not need to trade everyday to make your financial goals. Over the coming weeks I will visit as many topics on trading tips as possible to hopefully help and aid better trading success.\r\n\r\nGood luck and trade within your TRADE PLAN guidelines and most importantly use MONEY MANAGEMENT SKILLS to control your risks.\r\n\r\nScott Pickering\r\nThe Pip Accumulator\r\nSaturday January 25<sup>th</sup> 2014\r\n<span style=\"line-height: 1.5em;\">\r\nEMAIL / FOLLOW ME AT:\r\npremiumservice@weeklyfxdrivethru.com\r\nTwitter: @pipaccumulator\r\nTwitter: @ThePremService\r\n</span><span style=\"line-height: 1.5em;\">Google+/scottpickering\r\n</span><span style=\"line-height: 1.5em;\">StockTwits; thepipaccumulator</span>\r\n\r\n&nbsp;\r\n\r\n&nbsp;','#1 - 25.01.2014 - WE\'RE OFF TO A GREAT START','','inherit','open','closed','','3153-revision-v1','','','2014-01-25 11:21:03','2014-01-25 16:21:03','',3153,'https://weeklyfxdrivethru.com/3153-revision-v1/',0,'revision','',0),(3176,1,'2014-02-01 12:08:19','2014-02-01 17:08:19','01.02.2014<b> </b>\r\n\r\n<b><span style=\"text-decoration: underline;\">1. INTRODUCTION:</span></b>\r\n\r\nIt was a very volatile past 7 days, I have stuff that I want to add to the PREMIUM SERVICE library of useful training tools but I just have not had the time to physically take a few hours. I really thought that we were going to have a quiet week with only the FED and RBNZ creating any meaningful volatility. The Emerging Markets crisis certainly put my thoughts in the bin, as soon as Turkey followed by South Africa grabbed the headlines with rate hikes.\r\n\r\nThe FED stood firm on tapering and now I think that the lines have been drawn. I will write my thoughts and how I view the EUR/USD later in this blog.\r\n\r\nAs PREMIUM SERVICE subscribers would already know, January was a great income month from my forex trade set-ups. Profitable trades certainly out-numbered losing trades.<b> </b>\r\n<p align=\"center\"><b>RADAR TRADES:\r\n</b><b>Total Trades: 23\r\n</b><b>Profitable Trades: 17 (65%)\r\n</b><b>Losing Trades: 6 (35%)</b></p>\r\n<p align=\"center\"><b> </b><b>FLASH TRADES:\r\n</b><b>Total Trades: 25\r\n</b><b style=\"line-height: 1.5em;\">Profitable Trades: 24 (96%)\r\n</b><b style=\"line-height: 1.5em;\">Losing Trades: 1 (4%)</b></p>\r\n<p align=\"center\"><b> </b><b>TOTAL JANUARY 2014 PERFORMANCE:\r\n</b><b>Total Trades: 48\r\n</b><b style=\"line-height: 1.5em;\">Profitable Trades: 41 (83%)\r\n</b><b style=\"line-height: 1.5em;\">Losing Trades: 7 (17%)</b></p>\r\n<p align=\"center\">(The summary above does not include any trades opened in January that have not yet been closed)</p>\r\nThere were some great scalping / pullback trades in the month (all charts later). If we can keep this performance for the year happy days!!\r\nRealistically I usually look at a 70% / 30% split over an extended period as the average winning to losing trades. The key is to limit losses in financial terms.\r\n\r\nJanuary also saw the launch of my FUNDAMENTAL trades, based upon my macro level view of where I see world economic and political events drawing the forex market. I only expect to have a small number of trades in this category and I am hoping to let them run for months if possible.\r\n\r\nI will be sending to all subscribers to the free “WEEKLY FX DRIVE-THRU” newsletter who have not yet upgraded to the PREMIUM SERVICE, a summary of the PREMIUM SERVICE performance to date. This will publish soon after this blog is posted.\r\n\r\n&nbsp;\r\n\r\n<b><span style=\"text-decoration: underline;\">2. THE VIEW FROM MY TRADING DESK:</span></b>\r\n<p align=\"center\"><b>THE FED versus THE ECB\r\n“THE FED STANDS FIRM / ECB WOULD BE LOOKING FOR A CAN TO KICK”</b></p>\r\nLast year when Ben Bernanke announced (surprising the market with the timing) that tapering was going to start at $10 Billion per month and that the FED would be reducing bond purchases by this amount most months until it reaches zero, it was a huge change in FED monetary policy.\r\n\r\nI do not believe until maybe this week that the markets actually fully understood what this meant medium to long term looking forward. Equity market traders having been supported by an overly active FED policy for a number of years through QE simply know nothing but “Buy the dip” when it comes to market participation. However now, as Dylan sings “The Times They are a Changing”\r\n\r\nThere was a lot of chatter pre FOMC that the “Emerging Markets” issues may cause the FED to postpone a cut this meeting. Not a whisper about Emerging Markets in the statement affecting the decision or being taken into any serious consideration. The FED stood firm.\r\n\r\nThis opens up a topic that I have referred to a number of times over the past 12 months….Where does this take the EUR/USD?\r\n<p align=\"center\"><a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/01/EURUSD-MONTHLY-01.022014.png\"><img class=\"aligncenter size-large wp-image-3165\" alt=\"EURUSD MONTHLY 01.022014\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/01/EURUSD-MONTHLY-01.022014-1024x516.png\" width=\"1024\" height=\"516\" /></a></p>\r\nThe chart above is a long-term (Monthly) chart. As you can see we are in a descending wedge and recently we tested the upper down sloping trend line. Where are we heading next?\r\n\r\nA confirmed breakdown through 1.3500 certainly opens up a much larger downside opportunity. I am focused initially on the 61.8% Fibonacci retracement level of 1.3320 from the big 1.1659 to 1.6007 move. After this I think that levels of sub 1.3000 appear to be mentioned over and over again (1.2650 is favourite one of my own!!). I really find it hard to see the EUR/USD drop below 1.3000 and stay there.\r\n\r\nAt the back of my mind though, the following haunts me. I look at the FED and the way that it has tackled matters since the financial crisis of 2007-2008 and directly compare it to the ECB way of managing matters. It is a chalk and cheese matter.\r\n\r\nThe FED is proactive, highly communicative and tries through forward guidance to give markets stability by taking away uncertainty.\r\n\r\nOn the other side of the Atlantic Ocean, Jean-Claude Trichet, followed by Mario Draghi operate an ECB driven by reactive policies, most times as a result of the market calling it a crisis.\r\n\r\nA typical example of this was the last ECB rate cut. It followed deflation data (which by the way still exists), when within 48 hours Draghi cut ECB interest rates. It was a total surprise to most people and a knee-jerk reaction. At the ensuing press conference the cut was also described as a measure being taken to help periphery countries.\r\n\r\nWhat good did it do?\r\n\r\nThe EUR/USD aggressively sold off about 150 pips and bounced back to below levels we are at now. Basically, it did nothing.\r\n\r\nThis is the difference between the FED and the ECB.\r\n<p align=\"center\"><strong><span style=\"font-size: 14px;\"><i><span style=\"text-decoration: underline;\">“The FED does and the ECB does not”.</span></i></span></strong></p>\r\nThis last comment may be a little unfair but in the Eurozone the battle to resurrect everything back to “normal” is much, much harder because of the number of countries involved, the ego’s of the personalities involved and the basic mistrust that exists between some countries and politicians.\r\n\r\nThe ECB still has many issues to fix: -\r\n<p align=\"center\"><strong>UNEMPLOYMENT (in particular youth unemployment)</strong>\r\n<strong>DEFLATION</strong>\r\n<strong>BANK LIQUIDITY (yet another stress test is being planned)</strong>\r\n<strong>BANKING STRENGTH (The long awaited banking union)</strong>\r\n<strong><span style=\"line-height: 1.5em;\">PERIPHERY GROWTH\r\n</span><span style=\"line-height: 1.5em;\">RESTORE MARKET CONFIDENCE IN HOUSING MARKETS</span></strong></p>\r\nFor too long they have been “Kicking cans down the road” and now that the U.S. is starting to bounce back and cut QE the differences in comparisons will become more evident.\r\n\r\nThe ECB needs a crisis to happen to force the issue. Many people are stating that full-blown QE is required to fix the Eurozone. I am not 100% sure this is accurate but a market moving definitive LTRO is needed to support the banks. Additionally, they need to be forced through an aggressive ECB rate policy to lend money to small business to create growth. We need another ECB crisis.\r\n\r\nA crisis will add fuel to USD strength and drive the EUR/USD towards 1.3000 and possibly below.\r\n\r\nDraghi, with Merkel (in Berlin) pulling his strings will procrastinate and say things are in-line with expectations. The backdrop is Germany has the chequebook and does not want the invoices to fix the Eurozone as well. I totally get it.\r\n\r\nAs a trader bring on a Eurozone crisis….\r\n\r\n&nbsp;\r\n\r\n<b><span style=\"text-decoration: underline;\">3. LOOKING FORWARD…THE KEY SUPPORT &amp; RESISTANCE LEVELS WITH THE USD MAJORS:</span></b><b> </b>\r\n\r\n<b>EUR/USD: Closing Price 1.3485.</b>  We ended the week closing below the key level of 1.3500. There are lots of high-level news items this coming week, in particular the ECB Interest Rate decision and Press Conference on Thursday and then on Friday U.S. Non-Farm payrolls. We could see a huge amount of volatility with this pair. Recent Draghi press conferences have apart from the rate-cut event, been in the main Euro supportive. Having written that I do believe that we are now thanks to the FED having a EUR/USD sentiment change, I therefore see more down side pressure on this pair. Bear in mind though; it will not be a straight down affair. We will push and pull one way then another stepping down towards 1.3000 in my opinion. For this immediate time the range to look at is support at 1.3450 initially, below there 1.3400 and then my target of 1.3320. Upside resistance is good at 1.3585 and 1.3650.\r\n\r\n<b>GBP/USD: Closing Price 1.6438.  </b>Not much of a closing price difference week on week. I do see downside pressure with this pair continuing, but I do find cable hard to read and difficult to follow. The charts show a double top in play with a measure downside move to 1.6300. Resistance should be very good at 1.6525.\r\n\r\n<b>AUD/USD: Closing Price 0.8753</b>.  This pair has been quite elevated all week. When I think that it is going to fall it stays well bid. The RBA meet Monday on Interest Rates and later in the week RBA governor, Stevens releases the latest Monetary Policy Statement. It is well known that the RBA want this pair trading in the mid to low 0.80’s. We are not far away but I still expect a few words on that subject. Do NOT fight a Central Bank.  The Key levels for me right now are 0.8660 to 0.8820.\r\n\r\n<b>NZD/USD: Closing Price 0.8074</b>.  I am annoyed that I missed this pair heading lower, but I would not be surprised to see it bounce, strange as that might seem. For now I think we test 0.8000 as support and 0.8180, 0.8250 will offer resistance in the other direction.\r\n\r\n<b>USD/CAD: Closing Price 1.1127. </b>The “Loonie” did it’s thing yesterday (Friday) not quite sure what that was all about but the currency strengthened like crazy and in so doing screwed up my CAD cross rate trades, which I am still in albeit down considerably on pips. If we sell off again at the open tomorrow (Sunday) there could be a great buying opportunity. I see the range though being supported at 1.1085 to 1.1220.\r\n\r\n<b>USD/CHF: Closing Price 0.9058</b>.  Not a bad ending to the week if you are thinking of establishing a long position.  Support should be good at 0.8970 and the topside should have some resistance around 0.9125.\r\n\r\n<b>USD/JPY: Closing Price 102.00. </b> Ready to fall. That is how I would describe the present USD/JPY closing position. 101.75 offers support, if this is broken I can see a bigger move lower. It would be great to get a Sunday night bounce to resistance at 102.80 first and enter short at that level if possible.\r\n\r\n&nbsp;\r\n\r\n<b><span style=\"text-decoration: underline;\">4. MAJOR FOREX NEWS THIS WEEK THAT INTERESTS ME:</span></b>\r\n\r\nSUNDAY: AUD – Building Approvals.\r\n\r\nMONDAY: GBP – Manufacturing PMi.\r\nMONDAY: AUD – RBA Statement and Cash Rate.\r\n\r\nTUESDAY: GBP – Construction PMi.\r\nTUESDAY: NZD – Employment Data and Unemployment Rate.\r\n\r\nWEDNESDAY: GBP – Services PMi.\r\nWEDNESDAY: USD – ADP Non-Farm Employment Change.\r\nWEDNESDAY: CAD – Building Permits.\r\n<span style=\"line-height: 1.5em;\">WEDNESDAY: USD – ISM Non-Manufacturing PMi.\r\n</span><span style=\"line-height: 1.5em;\">WEDNESDAY: AUD – Retail Sales and Trade Balance.</span>\r\n\r\nTHURSDAY: GBP – Asset Purchase and Bank Rates.\r\nTHURSDAY: EUR – ECB Interest Rates and Press Conference.\r\nTHURSDAY: CAD – Ivey PMi\r\nTHURSDAY: AUD – RBA Monetary Policy Statement.\r\n\r\nFRIDAY: CAD – Employment Change and Unemployment Rate.\r\nFRIDAY: USD – Non-Farm Employment Change and Unemployment Rate.\r\n\r\n&nbsp;\r\n\r\n<b><span style=\"text-decoration: underline;\">5. FINAL THOUGHTS:</span></b>\r\n\r\nTo say that we have a week with market moving news is a little bit of an understatement. I am expecting a great deal of volatility this week.\r\n\r\nI have lots of trades open and several placed with limit orders. I will be trading 50% sized positions this week to allow for the chaos and disorder that will probably be served up.\r\n\r\nThis is the type of week, when the news items openly encourage numpty politicians to crawl out from under rocks and make stupid attention grabbing headlines. Watch out in particular for this to happen in the Eurozone.\r\n\r\nAlways, always remember. There is market everyday. You do not need to trade everyday to make your financial goals. Over the coming weeks I will visit as many topics on trading tips as possible to hopefully help and aid better trading success.\r\n\r\nGood luck and trade within your TRADE PLAN guidelines and most importantly use MONEY MANAGEMENT SKILLS to control your risks.\r\n\r\nScott Pickering\r\nThe Pip Accumulator\r\nSaturday February 1st 2014\r\n\r\nEMAIL / FOLLOW ME AT:\r\ndrivethru@weeklyfxdrivethru.com\r\nTwitter: @pipaccumulator\r\n<span style=\"line-height: 1.5em;\">Google+/scottpickering\r\n</span><span style=\"line-height: 1.5em;\">StockTwits: thepipaccumulator\r\n</span>(01.02.2014 - 2.3)\r\n\r\n&nbsp;','THE FED versus THE ECB - “THE FED STANDS FIRM / ECB WOULD BE LOOKING FOR A CAN TO KICK”','','publish','open','closed','','fed-versus-ecb-fed-stands-firm-ecb-will-looking-can-kick','','','2014-02-01 12:08:19','2014-02-01 17:08:19','',0,'https://weeklyfxdrivethru.com/?p=3176',0,'post','',0),(3177,1,'2014-02-01 12:05:13','2014-02-01 17:05:13','01.02.2014<b> </b>\r\n\r\n<b><span style=\"text-decoration: underline;\">1. INTRODUCTION:</span></b>\r\n\r\nIt was a very volatile past 7 days, I have stuff that I want to add to the PREMIUM SERVICE library of useful training tools but I just have not had the time to physically take a few hours. I really thought that we were going to have a quiet week with only the FED and RBNZ creating any meaningful volatility. The Emerging Markets crisis certainly put my thoughts in the bin, as soon as Turkey followed by South Africa grabbed the headlines with rate hikes.\r\n\r\nThe FED stood firm on tapering and now I think that the lines have been drawn. I will write my thoughts and how I view the EUR/USD later in this blog.\r\n\r\nAs PREMIUM SERVICE subscribers would already know, January was a great income month from my forex trade set-ups. Profitable trades certainly out-numbered losing trades.<b> </b>\r\n<p align=\"center\"><b>RADAR TRADES:\r\n</b><b>Total Trades: 23\r\n</b><b>Profitable Trades: 17 (65%)\r\n</b><b>Losing Trades: 6 (35%)</b></p>\r\n<p align=\"center\"><b> </b><b>FLASH TRADES:\r\n</b><b>Total Trades: 25\r\n</b><b style=\"line-height: 1.5em;\">Profitable Trades: 24 (96%)\r\n</b><b style=\"line-height: 1.5em;\">Losing Trades: 1 (4%)</b></p>\r\n<p align=\"center\"><b> </b><b>TOTAL JANUARY 2014 PERFORMANCE:\r\n</b><b>Total Trades: 48\r\n</b><b style=\"line-height: 1.5em;\">Profitable Trades: 41 (83%)\r\n</b><b style=\"line-height: 1.5em;\">Losing Trades: 7 (17%)</b></p>\r\n<p align=\"center\">(The summary above does not include any trades opened in January that have not yet been closed)</p>\r\nThere were some great scalping / pullback trades in the month (all charts later). If we can keep this performance for the year happy days!!\r\nRealistically I usually look at a 70% / 30% split over an extended period as the average winning to losing trades. The key is to limit losses in financial terms.\r\n\r\nJanuary also saw the launch of my FUNDAMENTAL trades, based upon my macro level view of where I see world economic and political events drawing the forex market. I only expect to have a small number of trades in this category and I am hoping to let them run for months if possible.\r\n\r\nI will be sending to all subscribers to the free “WEEKLY FX DRIVE-THRU” newsletter who have not yet upgraded to the PREMIUM SERVICE, a summary of the PREMIUM SERVICE performance to date. This will publish soon after this blog is posted.\r\n\r\n&nbsp;\r\n\r\n<b><span style=\"text-decoration: underline;\">2. THE VIEW FROM MY TRADING DESK:</span></b>\r\n<p align=\"center\"><b>THE FED versus THE ECB\r\n“THE FED STANDS FIRM / ECB WILL BE LOOKING FOR A CAN TO KICK”</b></p>\r\nLast year when Ben Bernanke announced (surprising the market with the timing) that tapering was going to start at $10 Billion per month and that the FED would be reducing bond purchases by this amount most months until it reaches zero, it was a huge change in FED monetary policy.\r\n\r\nI do not believe until maybe this week that the markets actually fully understood what this meant medium to long term looking forward. Equity market traders having been supported by an overly active FED policy for a number of years through QE simply know nothing but “Buy the dip” when it comes to market participation. However now, as Dylan sings “The Times They are a Changing”\r\n\r\nThere was a lot of chatter pre FOMC that the “Emerging Markets” issues may cause the FED to postpone a cut this meeting. Not a whisper about Emerging Markets in the statement affecting the decision or being taken into any serious consideration. The FED stood firm.\r\n\r\nThis opens up a topic that I have referred to a number of times over the past 12 months….Where does this take the EUR/USD?\r\n<p align=\"center\"><a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/01/EURUSD-MONTHLY-01.022014.png\"><img class=\"aligncenter size-large wp-image-3165\" alt=\"EURUSD MONTHLY 01.022014\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/01/EURUSD-MONTHLY-01.022014-1024x516.png\" width=\"1024\" height=\"516\" /></a></p>\r\nThe chart above is a long-term (Monthly) chart. As you can see we are in a descending wedge and recently we tested the upper down sloping trend line. Where are we heading next?\r\n\r\nA confirmed breakdown through 1.3500 certainly opens up a much larger downside opportunity. I am focused initially on the 61.8% Fibonacci retracement level of 1.3320 from the big 1.1659 to 1.6007 move. After this I think that levels of sub 1.3000 appear to be mentioned over and over again (1.2650 is favourite one of my own!!). I really find it hard to see the EUR/USD drop below 1.3000 and stay there.\r\n\r\nAt the back of my mind though, the following haunts me. I look at the FED and the way that it has tackled matters since the financial crisis of 2007-2008 and directly compare it to the ECB way of managing matters. It is a chalk and cheese matter.\r\n\r\nThe FED is proactive, highly communicative and tries through forward guidance to give markets stability by taking away uncertainty.\r\n\r\nOn the other side of the Atlantic Ocean, Jean-Claude Trichet, followed by Mario Draghi operate an ECB driven by reactive policies, most times as a result of the market calling it a crisis.\r\n\r\nA typical example of this was the last ECB rate cut. It followed deflation data (which by the way still exists), when within 48 hours Draghi cut ECB interest rates. It was a total surprise to most people and a knee-jerk reaction. At the ensuing press conference the cut was also described as a measure being taken to help periphery countries.\r\n\r\nWhat good did it do?\r\n\r\nThe EUR/USD aggressively sold off about 150 pips and bounced back to below levels we are at now. Basically, it did nothing.\r\n\r\nThis is the difference between the FED and the ECB.\r\n<p align=\"center\"><strong><span style=\"font-size: 14px;\"><i><span style=\"text-decoration: underline;\">“The FED does and the ECB does not”.</span></i></span></strong></p>\r\nThis last comment may be a little unfair but in the Eurozone the battle to resurrect everything back to “normal” is much, much harder because of the number of countries involved, the ego’s of the personalities involved and the basic mistrust that exists between some countries and politicians.\r\n\r\nThe ECB still has many issues to fix: -\r\n<p align=\"center\"><strong>UNEMPLOYMENT (in particular youth unemployment)</strong>\r\n<strong>DEFLATION</strong>\r\n<strong>BANK LIQUIDITY (yet another stress test is being planned)</strong>\r\n<strong>BANKING STRENGTH (The long awaited banking union)</strong>\r\n<strong><span style=\"line-height: 1.5em;\">PERIPHERY GROWTH\r\n</span><span style=\"line-height: 1.5em;\">RESTORE MARKET CONFIDENCE IN HOUSING MARKETS</span></strong></p>\r\nFor too long they have been “Kicking cans down the road” and now that the U.S. is starting to bounce back and cut QE the differences in comparisons will become more evident.\r\n\r\nThe ECB needs a crisis to happen to force the issue. Many people are stating that full-blown QE is required to fix the Eurozone. I am not 100% sure this is accurate but a market moving definitive LTRO is needed to support the banks. Additionally, they need to be forced through an aggressive ECB rate policy to lend money to small business to create growth. We need another ECB crisis.\r\n\r\nA crisis will add fuel to USD strength and drive the EUR/USD towards 1.3000 and possibly below.\r\n\r\nDraghi, with Merkel (in Berlin) pulling his strings will procrastinate and say things are in-line with expectations. The backdrop is Germany has the chequebook and does not want the invoices to fix the Eurozone as well. I totally get it.\r\n\r\nAs a trader bring on a Eurozone crisis….\r\n\r\n&nbsp;\r\n\r\n<b><span style=\"text-decoration: underline;\">3. LOOKING FORWARD…THE KEY SUPPORT &amp; RESISTANCE LEVELS WITH THE USD MAJORS:</span></b><b> </b>\r\n\r\n<b>EUR/USD: Closing Price 1.3485.</b>  We ended the week closing below the key level of 1.3500. There are lots of high-level news items this coming week, in particular the ECB Interest Rate decision and Press Conference on Thursday and then on Friday U.S. Non-Farm payrolls. We could see a huge amount of volatility with this pair. Recent Draghi press conferences have apart from the rate-cut event, been in the main Euro supportive. Having written that I do believe that we are now thanks to the FED having a EUR/USD sentiment change, I therefore see more down side pressure on this pair. Bear in mind though; it will not be a straight down affair. We will push and pull one way then another stepping down towards 1.3000 in my opinion. For this immediate time the range to look at is support at 1.3450 initially, below there 1.3400 and then my target of 1.3320. Upside resistance is good at 1.3585 and 1.3650.\r\n\r\n<b>GBP/USD: Closing Price 1.6438.  </b>Not much of a closing price difference week on week. I do see downside pressure with this pair continuing, but I do find cable hard to read and difficult to follow. The charts show a double top in play with a measure downside move to 1.6300. Resistance should be very good at 1.6525.\r\n\r\n<b>AUD/USD: Closing Price 0.8753</b>.  This pair has been quite elevated all week. When I think that it is going to fall it stays well bid. The RBA meet Monday on Interest Rates and later in the week RBA governor, Stevens releases the latest Monetary Policy Statement. It is well known that the RBA want this pair trading in the mid to low 0.80’s. We are not far away but I still expect a few words on that subject. Do NOT fight a Central Bank.  The Key levels for me right now are 0.8660 to 0.8820.\r\n\r\n<b>NZD/USD: Closing Price 0.8074</b>.  I am annoyed that I missed this pair heading lower, but I would not be surprised to see it bounce, strange as that might seem. For now I think we test 0.8000 as support and 0.8180, 0.8250 will offer resistance in the other direction.\r\n\r\n<b>USD/CAD: Closing Price 1.1127. </b>The “Loonie” did it’s thing yesterday (Friday) not quite sure what that was all about but the currency strengthened like crazy and in so doing screwed up my CAD cross rate trades, which I am still in albeit down considerably on pips. If we sell off again at the open tomorrow (Sunday) there could be a great buying opportunity. I see the range though being supported at 1.1085 to 1.1220.\r\n\r\n<b>USD/CHF: Closing Price 0.9058</b>.  Not a bad ending to the week if you are thinking of establishing a long position.  Support should be good at 0.8970 and the topside should have some resistance around 0.9125.\r\n\r\n<b>USD/JPY: Closing Price 102.00. </b> Ready to fall. That is how I would describe the present USD/JPY closing position. 101.75 offers support, if this is broken I can see a bigger move lower. It would be great to get a Sunday night bounce to resistance at 102.80 first and enter short at that level if possible.\r\n\r\n&nbsp;\r\n\r\n<b><span style=\"text-decoration: underline;\">4. MAJOR FOREX NEWS THIS WEEK THAT INTERESTS ME:</span></b>\r\n\r\nSUNDAY: AUD – Building Approvals.\r\n\r\nMONDAY: GBP – Manufacturing PMi.\r\nMONDAY: AUD – RBA Statement and Cash Rate.\r\n\r\nTUESDAY: GBP – Construction PMi.\r\nTUESDAY: NZD – Employment Data and Unemployment Rate.\r\n\r\nWEDNESDAY: GBP – Services PMi.\r\nWEDNESDAY: USD – ADP Non-Farm Employment Change.\r\nWEDNESDAY: CAD – Building Permits.\r\n<span style=\"line-height: 1.5em;\">WEDNESDAY: USD – ISM Non-Manufacturing PMi.\r\n</span><span style=\"line-height: 1.5em;\">WEDNESDAY: AUD – Retail Sales and Trade Balance.</span>\r\n\r\nTHURSDAY: GBP – Asset Purchase and Bank Rates.\r\nTHURSDAY: EUR – ECB Interest Rates and Press Conference.\r\nTHURSDAY: CAD – Ivey PMi\r\nTHURSDAY: AUD – RBA Monetary Policy Statement.\r\n\r\nFRIDAY: CAD – Employment Change and Unemployment Rate.\r\nFRIDAY: USD – Non-Farm Employment Change and Unemployment Rate.\r\n\r\n&nbsp;\r\n\r\n<b><span style=\"text-decoration: underline;\">5. FINAL THOUGHTS:</span></b>\r\n\r\nTo say that we have a week with market moving news is a little bit of an understatement. I am expecting a great deal of volatility this week.\r\n\r\nI have lots of trades open and several placed with limit orders. I will be trading 50% sized positions this week to allow for the chaos and disorder that will probably be served up.\r\n\r\nThis is the type of week, when the news items openly encourage numpty politicians to crawl out from under rocks and make stupid attention grabbing headlines. Watch out in particular for this to happen in the Eurozone.\r\n\r\nAlways, always remember. There is market everyday. You do not need to trade everyday to make your financial goals. Over the coming weeks I will visit as many topics on trading tips as possible to hopefully help and aid better trading success.\r\n\r\nGood luck and trade within your TRADE PLAN guidelines and most importantly use MONEY MANGEMENT SKILLS to control your risks.\r\n\r\nScott Pickering\r\nThe Pip Accumulator\r\nSaturday February 1st 2014\r\n\r\nEMAIL / FOLLOW ME AT:\r\ndrivethru@weeklyfxdrivethru.com\r\nTwitter: @pipaccumulator\r\n<span style=\"line-height: 1.5em;\">Google+/scottpickering\r\n</span><span style=\"line-height: 1.5em;\">StockTwits: thepipaccumulator\r\n</span>(01.02.2014 - 2.3)\r\n\r\n&nbsp;','THE FED versus THE ECB - “THE FED STANDS FIRM / ECB WILL BE LOOKING FOR A CAN TO KICK”','','inherit','open','closed','','3176-revision-v1','','','2014-02-01 12:05:13','2014-02-01 17:05:13','',3176,'https://weeklyfxdrivethru.com/3176-revision-v1/',0,'revision','',0),(3178,1,'2014-02-01 12:05:47','2014-02-01 17:05:47','01.02.2014<b> </b>\r\n\r\n<b><span style=\"text-decoration: underline;\">1. INTRODUCTION:</span></b>\r\n\r\nIt was a very volatile past 7 days, I have stuff that I want to add to the PREMIUM SERVICE library of useful training tools but I just have not had the time to physically take a few hours. I really thought that we were going to have a quiet week with only the FED and RBNZ creating any meaningful volatility. The Emerging Markets crisis certainly put my thoughts in the bin, as soon as Turkey followed by South Africa grabbed the headlines with rate hikes.\r\n\r\nThe FED stood firm on tapering and now I think that the lines have been drawn. I will write my thoughts and how I view the EUR/USD later in this blog.\r\n\r\nAs PREMIUM SERVICE subscribers would already know, January was a great income month from my forex trade set-ups. Profitable trades certainly out-numbered losing trades.<b> </b>\r\n<p align=\"center\"><b>RADAR TRADES:\r\n</b><b>Total Trades: 23\r\n</b><b>Profitable Trades: 17 (65%)\r\n</b><b>Losing Trades: 6 (35%)</b></p>\r\n<p align=\"center\"><b> </b><b>FLASH TRADES:\r\n</b><b>Total Trades: 25\r\n</b><b style=\"line-height: 1.5em;\">Profitable Trades: 24 (96%)\r\n</b><b style=\"line-height: 1.5em;\">Losing Trades: 1 (4%)</b></p>\r\n<p align=\"center\"><b> </b><b>TOTAL JANUARY 2014 PERFORMANCE:\r\n</b><b>Total Trades: 48\r\n</b><b style=\"line-height: 1.5em;\">Profitable Trades: 41 (83%)\r\n</b><b style=\"line-height: 1.5em;\">Losing Trades: 7 (17%)</b></p>\r\n<p align=\"center\">(The summary above does not include any trades opened in January that have not yet been closed)</p>\r\nThere were some great scalping / pullback trades in the month (all charts later). If we can keep this performance for the year happy days!!\r\nRealistically I usually look at a 70% / 30% split over an extended period as the average winning to losing trades. The key is to limit losses in financial terms.\r\n\r\nJanuary also saw the launch of my FUNDAMENTAL trades, based upon my macro level view of where I see world economic and political events drawing the forex market. I only expect to have a small number of trades in this category and I am hoping to let them run for months if possible.\r\n\r\nI will be sending to all subscribers to the free “WEEKLY FX DRIVE-THRU” newsletter who have not yet upgraded to the PREMIUM SERVICE, a summary of the PREMIUM SERVICE performance to date. This will publish soon after this blog is posted.\r\n\r\n&nbsp;\r\n\r\n<b><span style=\"text-decoration: underline;\">2. THE VIEW FROM MY TRADING DESK:</span></b>\r\n<p align=\"center\"><b>THE FED versus THE ECB\r\n“THE FED STANDS FIRM / ECB WOULD BE LOOKING FOR A CAN TO KICK”</b></p>\r\nLast year when Ben Bernanke announced (surprising the market with the timing) that tapering was going to start at $10 Billion per month and that the FED would be reducing bond purchases by this amount most months until it reaches zero, it was a huge change in FED monetary policy.\r\n\r\nI do not believe until maybe this week that the markets actually fully understood what this meant medium to long term looking forward. Equity market traders having been supported by an overly active FED policy for a number of years through QE simply know nothing but “Buy the dip” when it comes to market participation. However now, as Dylan sings “The Times They are a Changing”\r\n\r\nThere was a lot of chatter pre FOMC that the “Emerging Markets” issues may cause the FED to postpone a cut this meeting. Not a whisper about Emerging Markets in the statement affecting the decision or being taken into any serious consideration. The FED stood firm.\r\n\r\nThis opens up a topic that I have referred to a number of times over the past 12 months….Where does this take the EUR/USD?\r\n<p align=\"center\"><a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/01/EURUSD-MONTHLY-01.022014.png\"><img class=\"aligncenter size-large wp-image-3165\" alt=\"EURUSD MONTHLY 01.022014\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/01/EURUSD-MONTHLY-01.022014-1024x516.png\" width=\"1024\" height=\"516\" /></a></p>\r\nThe chart above is a long-term (Monthly) chart. As you can see we are in a descending wedge and recently we tested the upper down sloping trend line. Where are we heading next?\r\n\r\nA confirmed breakdown through 1.3500 certainly opens up a much larger downside opportunity. I am focused initially on the 61.8% Fibonacci retracement level of 1.3320 from the big 1.1659 to 1.6007 move. After this I think that levels of sub 1.3000 appear to be mentioned over and over again (1.2650 is favourite one of my own!!). I really find it hard to see the EUR/USD drop below 1.3000 and stay there.\r\n\r\nAt the back of my mind though, the following haunts me. I look at the FED and the way that it has tackled matters since the financial crisis of 2007-2008 and directly compare it to the ECB way of managing matters. It is a chalk and cheese matter.\r\n\r\nThe FED is proactive, highly communicative and tries through forward guidance to give markets stability by taking away uncertainty.\r\n\r\nOn the other side of the Atlantic Ocean, Jean-Claude Trichet, followed by Mario Draghi operate an ECB driven by reactive policies, most times as a result of the market calling it a crisis.\r\n\r\nA typical example of this was the last ECB rate cut. It followed deflation data (which by the way still exists), when within 48 hours Draghi cut ECB interest rates. It was a total surprise to most people and a knee-jerk reaction. At the ensuing press conference the cut was also described as a measure being taken to help periphery countries.\r\n\r\nWhat good did it do?\r\n\r\nThe EUR/USD aggressively sold off about 150 pips and bounced back to below levels we are at now. Basically, it did nothing.\r\n\r\nThis is the difference between the FED and the ECB.\r\n<p align=\"center\"><strong><span style=\"font-size: 14px;\"><i><span style=\"text-decoration: underline;\">“The FED does and the ECB does not”.</span></i></span></strong></p>\r\nThis last comment may be a little unfair but in the Eurozone the battle to resurrect everything back to “normal” is much, much harder because of the number of countries involved, the ego’s of the personalities involved and the basic mistrust that exists between some countries and politicians.\r\n\r\nThe ECB still has many issues to fix: -\r\n<p align=\"center\"><strong>UNEMPLOYMENT (in particular youth unemployment)</strong>\r\n<strong>DEFLATION</strong>\r\n<strong>BANK LIQUIDITY (yet another stress test is being planned)</strong>\r\n<strong>BANKING STRENGTH (The long awaited banking union)</strong>\r\n<strong><span style=\"line-height: 1.5em;\">PERIPHERY GROWTH\r\n</span><span style=\"line-height: 1.5em;\">RESTORE MARKET CONFIDENCE IN HOUSING MARKETS</span></strong></p>\r\nFor too long they have been “Kicking cans down the road” and now that the U.S. is starting to bounce back and cut QE the differences in comparisons will become more evident.\r\n\r\nThe ECB needs a crisis to happen to force the issue. Many people are stating that full-blown QE is required to fix the Eurozone. I am not 100% sure this is accurate but a market moving definitive LTRO is needed to support the banks. Additionally, they need to be forced through an aggressive ECB rate policy to lend money to small business to create growth. We need another ECB crisis.\r\n\r\nA crisis will add fuel to USD strength and drive the EUR/USD towards 1.3000 and possibly below.\r\n\r\nDraghi, with Merkel (in Berlin) pulling his strings will procrastinate and say things are in-line with expectations. The backdrop is Germany has the chequebook and does not want the invoices to fix the Eurozone as well. I totally get it.\r\n\r\nAs a trader bring on a Eurozone crisis….\r\n\r\n&nbsp;\r\n\r\n<b><span style=\"text-decoration: underline;\">3. LOOKING FORWARD…THE KEY SUPPORT &amp; RESISTANCE LEVELS WITH THE USD MAJORS:</span></b><b> </b>\r\n\r\n<b>EUR/USD: Closing Price 1.3485.</b>  We ended the week closing below the key level of 1.3500. There are lots of high-level news items this coming week, in particular the ECB Interest Rate decision and Press Conference on Thursday and then on Friday U.S. Non-Farm payrolls. We could see a huge amount of volatility with this pair. Recent Draghi press conferences have apart from the rate-cut event, been in the main Euro supportive. Having written that I do believe that we are now thanks to the FED having a EUR/USD sentiment change, I therefore see more down side pressure on this pair. Bear in mind though; it will not be a straight down affair. We will push and pull one way then another stepping down towards 1.3000 in my opinion. For this immediate time the range to look at is support at 1.3450 initially, below there 1.3400 and then my target of 1.3320. Upside resistance is good at 1.3585 and 1.3650.\r\n\r\n<b>GBP/USD: Closing Price 1.6438.  </b>Not much of a closing price difference week on week. I do see downside pressure with this pair continuing, but I do find cable hard to read and difficult to follow. The charts show a double top in play with a measure downside move to 1.6300. Resistance should be very good at 1.6525.\r\n\r\n<b>AUD/USD: Closing Price 0.8753</b>.  This pair has been quite elevated all week. When I think that it is going to fall it stays well bid. The RBA meet Monday on Interest Rates and later in the week RBA governor, Stevens releases the latest Monetary Policy Statement. It is well known that the RBA want this pair trading in the mid to low 0.80’s. We are not far away but I still expect a few words on that subject. Do NOT fight a Central Bank.  The Key levels for me right now are 0.8660 to 0.8820.\r\n\r\n<b>NZD/USD: Closing Price 0.8074</b>.  I am annoyed that I missed this pair heading lower, but I would not be surprised to see it bounce, strange as that might seem. For now I think we test 0.8000 as support and 0.8180, 0.8250 will offer resistance in the other direction.\r\n\r\n<b>USD/CAD: Closing Price 1.1127. </b>The “Loonie” did it’s thing yesterday (Friday) not quite sure what that was all about but the currency strengthened like crazy and in so doing screwed up my CAD cross rate trades, which I am still in albeit down considerably on pips. If we sell off again at the open tomorrow (Sunday) there could be a great buying opportunity. I see the range though being supported at 1.1085 to 1.1220.\r\n\r\n<b>USD/CHF: Closing Price 0.9058</b>.  Not a bad ending to the week if you are thinking of establishing a long position.  Support should be good at 0.8970 and the topside should have some resistance around 0.9125.\r\n\r\n<b>USD/JPY: Closing Price 102.00. </b> Ready to fall. That is how I would describe the present USD/JPY closing position. 101.75 offers support, if this is broken I can see a bigger move lower. It would be great to get a Sunday night bounce to resistance at 102.80 first and enter short at that level if possible.\r\n\r\n&nbsp;\r\n\r\n<b><span style=\"text-decoration: underline;\">4. MAJOR FOREX NEWS THIS WEEK THAT INTERESTS ME:</span></b>\r\n\r\nSUNDAY: AUD – Building Approvals.\r\n\r\nMONDAY: GBP – Manufacturing PMi.\r\nMONDAY: AUD – RBA Statement and Cash Rate.\r\n\r\nTUESDAY: GBP – Construction PMi.\r\nTUESDAY: NZD – Employment Data and Unemployment Rate.\r\n\r\nWEDNESDAY: GBP – Services PMi.\r\nWEDNESDAY: USD – ADP Non-Farm Employment Change.\r\nWEDNESDAY: CAD – Building Permits.\r\n<span style=\"line-height: 1.5em;\">WEDNESDAY: USD – ISM Non-Manufacturing PMi.\r\n</span><span style=\"line-height: 1.5em;\">WEDNESDAY: AUD – Retail Sales and Trade Balance.</span>\r\n\r\nTHURSDAY: GBP – Asset Purchase and Bank Rates.\r\nTHURSDAY: EUR – ECB Interest Rates and Press Conference.\r\nTHURSDAY: CAD – Ivey PMi\r\nTHURSDAY: AUD – RBA Monetary Policy Statement.\r\n\r\nFRIDAY: CAD – Employment Change and Unemployment Rate.\r\nFRIDAY: USD – Non-Farm Employment Change and Unemployment Rate.\r\n\r\n&nbsp;\r\n\r\n<b><span style=\"text-decoration: underline;\">5. FINAL THOUGHTS:</span></b>\r\n\r\nTo say that we have a week with market moving news is a little bit of an understatement. I am expecting a great deal of volatility this week.\r\n\r\nI have lots of trades open and several placed with limit orders. I will be trading 50% sized positions this week to allow for the chaos and disorder that will probably be served up.\r\n\r\nThis is the type of week, when the news items openly encourage numpty politicians to crawl out from under rocks and make stupid attention grabbing headlines. Watch out in particular for this to happen in the Eurozone.\r\n\r\nAlways, always remember. There is market everyday. You do not need to trade everyday to make your financial goals. Over the coming weeks I will visit as many topics on trading tips as possible to hopefully help and aid better trading success.\r\n\r\nGood luck and trade within your TRADE PLAN guidelines and most importantly use MONEY MANGEMENT SKILLS to control your risks.\r\n\r\nScott Pickering\r\nThe Pip Accumulator\r\nSaturday February 1st 2014\r\n\r\nEMAIL / FOLLOW ME AT:\r\ndrivethru@weeklyfxdrivethru.com\r\nTwitter: @pipaccumulator\r\n<span style=\"line-height: 1.5em;\">Google+/scottpickering\r\n</span><span style=\"line-height: 1.5em;\">StockTwits: thepipaccumulator\r\n</span>(01.02.2014 - 2.3)\r\n\r\n&nbsp;','THE FED versus THE ECB - “THE FED STANDS FIRM / ECB WOULD BE LOOKING FOR A CAN TO KICK”','','inherit','open','closed','','3176-revision-v1','','','2014-02-01 12:05:47','2014-02-01 17:05:47','',3176,'https://weeklyfxdrivethru.com/3176-revision-v1/',0,'revision','',0),(3179,1,'2014-02-01 12:07:08','2014-02-01 17:07:08','01.02.2014<b> </b>\r\n\r\n<b><span style=\"text-decoration: underline;\">1. INTRODUCTION:</span></b>\r\n\r\nIt was a very volatile past 7 days, I have stuff that I want to add to the PREMIUM SERVICE library of useful training tools but I just have not had the time to physically take a few hours. I really thought that we were going to have a quiet week with only the FED and RBNZ creating any meaningful volatility. The Emerging Markets crisis certainly put my thoughts in the bin, as soon as Turkey followed by South Africa grabbed the headlines with rate hikes.\r\n\r\nThe FED stood firm on tapering and now I think that the lines have been drawn. I will write my thoughts and how I view the EUR/USD later in this blog.\r\n\r\nAs PREMIUM SERVICE subscribers would already know, January was a great income month from my forex trade set-ups. Profitable trades certainly out-numbered losing trades.<b> </b>\r\n<p align=\"center\"><b>RADAR TRADES:\r\n</b><b>Total Trades: 23\r\n</b><b>Profitable Trades: 17 (65%)\r\n</b><b>Losing Trades: 6 (35%)</b></p>\r\n<p align=\"center\"><b> </b><b>FLASH TRADES:\r\n</b><b>Total Trades: 25\r\n</b><b style=\"line-height: 1.5em;\">Profitable Trades: 24 (96%)\r\n</b><b style=\"line-height: 1.5em;\">Losing Trades: 1 (4%)</b></p>\r\n<p align=\"center\"><b> </b><b>TOTAL JANUARY 2014 PERFORMANCE:\r\n</b><b>Total Trades: 48\r\n</b><b style=\"line-height: 1.5em;\">Profitable Trades: 41 (83%)\r\n</b><b style=\"line-height: 1.5em;\">Losing Trades: 7 (17%)</b></p>\r\n<p align=\"center\">(The summary above does not include any trades opened in January that have not yet been closed)</p>\r\nThere were some great scalping / pullback trades in the month (all charts later). If we can keep this performance for the year happy days!!\r\nRealistically I usually look at a 70% / 30% split over an extended period as the average winning to losing trades. The key is to limit losses in financial terms.\r\n\r\nJanuary also saw the launch of my FUNDAMENTAL trades, based upon my macro level view of where I see world economic and political events drawing the forex market. I only expect to have a small number of trades in this category and I am hoping to let them run for months if possible.\r\n\r\nI will be sending to all subscribers to the free “WEEKLY FX DRIVE-THRU” newsletter who have not yet upgraded to the PREMIUM SERVICE, a summary of the PREMIUM SERVICE performance to date. This will publish soon after this blog is posted.\r\n\r\n&nbsp;\r\n\r\n<b><span style=\"text-decoration: underline;\">2. THE VIEW FROM MY TRADING DESK:</span></b>\r\n<p align=\"center\"><b>THE FED versus THE ECB\r\n“THE FED STANDS FIRM / ECB WOULD BE LOOKING FOR A CAN TO KICK”</b></p>\r\nLast year when Ben Bernanke announced (surprising the market with the timing) that tapering was going to start at $10 Billion per month and that the FED would be reducing bond purchases by this amount most months until it reaches zero, it was a huge change in FED monetary policy.\r\n\r\nI do not believe until maybe this week that the markets actually fully understood what this meant medium to long term looking forward. Equity market traders having been supported by an overly active FED policy for a number of years through QE simply know nothing but “Buy the dip” when it comes to market participation. However now, as Dylan sings “The Times They are a Changing”\r\n\r\nThere was a lot of chatter pre FOMC that the “Emerging Markets” issues may cause the FED to postpone a cut this meeting. Not a whisper about Emerging Markets in the statement affecting the decision or being taken into any serious consideration. The FED stood firm.\r\n\r\nThis opens up a topic that I have referred to a number of times over the past 12 months….Where does this take the EUR/USD?\r\n<p align=\"center\"><a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/01/EURUSD-MONTHLY-01.022014.png\"><img class=\"aligncenter size-large wp-image-3165\" alt=\"EURUSD MONTHLY 01.022014\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/01/EURUSD-MONTHLY-01.022014-1024x516.png\" width=\"1024\" height=\"516\" /></a></p>\r\nThe chart above is a long-term (Monthly) chart. As you can see we are in a descending wedge and recently we tested the upper down sloping trend line. Where are we heading next?\r\n\r\nA confirmed breakdown through 1.3500 certainly opens up a much larger downside opportunity. I am focused initially on the 61.8% Fibonacci retracement level of 1.3320 from the big 1.1659 to 1.6007 move. After this I think that levels of sub 1.3000 appear to be mentioned over and over again (1.2650 is favourite one of my own!!). I really find it hard to see the EUR/USD drop below 1.3000 and stay there.\r\n\r\nAt the back of my mind though, the following haunts me. I look at the FED and the way that it has tackled matters since the financial crisis of 2007-2008 and directly compare it to the ECB way of managing matters. It is a chalk and cheese matter.\r\n\r\nThe FED is proactive, highly communicative and tries through forward guidance to give markets stability by taking away uncertainty.\r\n\r\nOn the other side of the Atlantic Ocean, Jean-Claude Trichet, followed by Mario Draghi operate an ECB driven by reactive policies, most times as a result of the market calling it a crisis.\r\n\r\nA typical example of this was the last ECB rate cut. It followed deflation data (which by the way still exists), when within 48 hours Draghi cut ECB interest rates. It was a total surprise to most people and a knee-jerk reaction. At the ensuing press conference the cut was also described as a measure being taken to help periphery countries.\r\n\r\nWhat good did it do?\r\n\r\nThe EUR/USD aggressively sold off about 150 pips and bounced back to below levels we are at now. Basically, it did nothing.\r\n\r\nThis is the difference between the FED and the ECB.\r\n<p align=\"center\"><strong><span style=\"font-size: 14px;\"><i><span style=\"text-decoration: underline;\">“The FED does and the ECB does not”.</span></i></span></strong></p>\r\nThis last comment may be a little unfair but in the Eurozone the battle to resurrect everything back to “normal” is much, much harder because of the number of countries involved, the ego’s of the personalities involved and the basic mistrust that exists between some countries and politicians.\r\n\r\nThe ECB still has many issues to fix: -\r\n<p align=\"center\"><strong>UNEMPLOYMENT (in particular youth unemployment)</strong>\r\n<strong>DEFLATION</strong>\r\n<strong>BANK LIQUIDITY (yet another stress test is being planned)</strong>\r\n<strong>BANKING STRENGTH (The long awaited banking union)</strong>\r\n<strong><span style=\"line-height: 1.5em;\">PERIPHERY GROWTH\r\n</span><span style=\"line-height: 1.5em;\">RESTORE MARKET CONFIDENCE IN HOUSING MARKETS</span></strong></p>\r\nFor too long they have been “Kicking cans down the road” and now that the U.S. is starting to bounce back and cut QE the differences in comparisons will become more evident.\r\n\r\nThe ECB needs a crisis to happen to force the issue. Many people are stating that full-blown QE is required to fix the Eurozone. I am not 100% sure this is accurate but a market moving definitive LTRO is needed to support the banks. Additionally, they need to be forced through an aggressive ECB rate policy to lend money to small business to create growth. We need another ECB crisis.\r\n\r\nA crisis will add fuel to USD strength and drive the EUR/USD towards 1.3000 and possibly below.\r\n\r\nDraghi, with Merkel (in Berlin) pulling his strings will procrastinate and say things are in-line with expectations. The backdrop is Germany has the chequebook and does not want the invoices to fix the Eurozone as well. I totally get it.\r\n\r\nAs a trader bring on a Eurozone crisis….\r\n\r\n&nbsp;\r\n\r\n<b><span style=\"text-decoration: underline;\">3. LOOKING FORWARD…THE KEY SUPPORT &amp; RESISTANCE LEVELS WITH THE USD MAJORS:</span></b><b> </b>\r\n\r\n<b>EUR/USD: Closing Price 1.3485.</b>  We ended the week closing below the key level of 1.3500. There are lots of high-level news items this coming week, in particular the ECB Interest Rate decision and Press Conference on Thursday and then on Friday U.S. Non-Farm payrolls. We could see a huge amount of volatility with this pair. Recent Draghi press conferences have apart from the rate-cut event, been in the main Euro supportive. Having written that I do believe that we are now thanks to the FED having a EUR/USD sentiment change, I therefore see more down side pressure on this pair. Bear in mind though; it will not be a straight down affair. We will push and pull one way then another stepping down towards 1.3000 in my opinion. For this immediate time the range to look at is support at 1.3450 initially, below there 1.3400 and then my target of 1.3320. Upside resistance is good at 1.3585 and 1.3650.\r\n\r\n<b>GBP/USD: Closing Price 1.6438.  </b>Not much of a closing price difference week on week. I do see downside pressure with this pair continuing, but I do find cable hard to read and difficult to follow. The charts show a double top in play with a measure downside move to 1.6300. Resistance should be very good at 1.6525.\r\n\r\n<b>AUD/USD: Closing Price 0.8753</b>.  This pair has been quite elevated all week. When I think that it is going to fall it stays well bid. The RBA meet Monday on Interest Rates and later in the week RBA governor, Stevens releases the latest Monetary Policy Statement. It is well known that the RBA want this pair trading in the mid to low 0.80’s. We are not far away but I still expect a few words on that subject. Do NOT fight a Central Bank.  The Key levels for me right now are 0.8660 to 0.8820.\r\n\r\n<b>NZD/USD: Closing Price 0.8074</b>.  I am annoyed that I missed this pair heading lower, but I would not be surprised to see it bounce, strange as that might seem. For now I think we test 0.8000 as support and 0.8180, 0.8250 will offer resistance in the other direction.\r\n\r\n<b>USD/CAD: Closing Price 1.1127. </b>The “Loonie” did it’s thing yesterday (Friday) not quite sure what that was all about but the currency strengthened like crazy and in so doing screwed up my CAD cross rate trades, which I am still in albeit down considerably on pips. If we sell off again at the open tomorrow (Sunday) there could be a great buying opportunity. I see the range though being supported at 1.1085 to 1.1220.\r\n\r\n<b>USD/CHF: Closing Price 0.9058</b>.  Not a bad ending to the week if you are thinking of establishing a long position.  Support should be good at 0.8970 and the topside should have some resistance around 0.9125.\r\n\r\n<b>USD/JPY: Closing Price 102.00. </b> Ready to fall. That is how I would describe the present USD/JPY closing position. 101.75 offers support, if this is broken I can see a bigger move lower. It would be great to get a Sunday night bounce to resistance at 102.80 first and enter short at that level if possible.\r\n\r\n&nbsp;\r\n\r\n<b><span style=\"text-decoration: underline;\">4. MAJOR FOREX NEWS THIS WEEK THAT INTERESTS ME:</span></b>\r\n\r\nSUNDAY: AUD – Building Approvals.\r\n\r\nMONDAY: GBP – Manufacturing PMi.\r\nMONDAY: AUD – RBA Statement and Cash Rate.\r\n\r\nTUESDAY: GBP – Construction PMi.\r\nTUESDAY: NZD – Employment Data and Unemployment Rate.\r\n\r\nWEDNESDAY: GBP – Services PMi.\r\nWEDNESDAY: USD – ADP Non-Farm Employment Change.\r\nWEDNESDAY: CAD – Building Permits.\r\n<span style=\"line-height: 1.5em;\">WEDNESDAY: USD – ISM Non-Manufacturing PMi.\r\n</span><span style=\"line-height: 1.5em;\">WEDNESDAY: AUD – Retail Sales and Trade Balance.</span>\r\n\r\nTHURSDAY: GBP – Asset Purchase and Bank Rates.\r\nTHURSDAY: EUR – ECB Interest Rates and Press Conference.\r\nTHURSDAY: CAD – Ivey PMi\r\nTHURSDAY: AUD – RBA Monetary Policy Statement.\r\n\r\nFRIDAY: CAD – Employment Change and Unemployment Rate.\r\nFRIDAY: USD – Non-Farm Employment Change and Unemployment Rate.\r\n\r\n&nbsp;\r\n\r\n<b><span style=\"text-decoration: underline;\">5. FINAL THOUGHTS:</span></b>\r\n\r\nTo say that we have a week with market moving news is a little bit of an understatement. I am expecting a great deal of volatility this week.\r\n\r\nI have lots of trades open and several placed with limit orders. I will be trading 50% sized positions this week to allow for the chaos and disorder that will probably be served up.\r\n\r\nThis is the type of week, when the news items openly encourage numpty politicians to crawl out from under rocks and make stupid attention grabbing headlines. Watch out in particular for this to happen in the Eurozone.\r\n\r\nAlways, always remember. There is market everyday. You do not need to trade everyday to make your financial goals. Over the coming weeks I will visit as many topics on trading tips as possible to hopefully help and aid better trading success.\r\n\r\nGood luck and trade within your TRADE PLAN guidelines and most importantly use MONEY MANAGEMENT SKILLS to control your risks.\r\n\r\nScott Pickering\r\nThe Pip Accumulator\r\nSaturday February 1st 2014\r\n\r\nEMAIL / FOLLOW ME AT:\r\ndrivethru@weeklyfxdrivethru.com\r\nTwitter: @pipaccumulator\r\n<span style=\"line-height: 1.5em;\">Google+/scottpickering\r\n</span><span style=\"line-height: 1.5em;\">StockTwits: thepipaccumulator\r\n</span>(01.02.2014 - 2.3)\r\n\r\n&nbsp;','THE FED versus THE ECB - “THE FED STANDS FIRM / ECB WOULD BE LOOKING FOR A CAN TO KICK”','','inherit','open','closed','','3176-revision-v1','','','2014-02-01 12:07:08','2014-02-01 17:07:08','',3176,'https://weeklyfxdrivethru.com/3176-revision-v1/',0,'revision','',0),(3181,1,'2014-02-01 12:44:57','2014-02-01 17:44:57','01.02.2014\r\n#2\r\n\r\n<b><span style=\"text-decoration: underline;\">1. INTRODUCTION:</span></b>\r\n\r\nIt was a very volatile past 7 days, I have stuff that I want to add to the PREMIUM SERVICE library of useful training tools but I just have not had the time to physically take a few hours. I really thought that we were going to have a quiet week with only the FED and RBNZ creating any meaningful volatility. The Emerging Markets crisis certainly put my thoughts in the bin, as soon as Turkey followed by South Africa grabbed the headlines with rate hikes.\r\n\r\nThe FED stood firm on tapering and now I think that the lines have been drawn. I will write my thoughts and how I view the EUR/USD later in this blog.\r\n\r\nJanuary was a great income month. Winning trades certainly out-numbered losing trades.\r\n<p align=\"center\"><b>RADAR TRADES:\r\n</b><b>Total Trades: 23\r\n</b><b>Profitable Trades: 17 (65%)\r\n</b><b>Losing Trades: 6 (35%)</b></p>\r\n<p align=\"center\"><b> </b><b>FLASH TRADES:\r\n</b><b>Total Trades: 25\r\n</b><b>Profitable Trades: 24 (96%)\r\n</b><b>Losing Trades: 1 (4%)</b></p>\r\n<p align=\"center\"><b> </b><b>TOTAL JANUARY 2014 PERFORMANCE:\r\n</b><b>Total Trades: 48\r\n</b><b>Profitable Trades: 41 (83%)\r\n</b><b>Losing Trades: 7 (17%)</b></p>\r\n<p align=\"center\">(The summary above does not include any trades opened in January that have not yet been closed)</p>\r\n There were some great scalping / pullback trades in the month (all charts later). If we can keep this performance for the year happy days!!\r\nRealistically I usually look at a 70% / 30% split over an extended period as the average winning to losing trades. The key is to limit losses in financial terms.\r\n\r\nJanuary also saw the launch of my FUNDAMENTAL trades, based upon my macro level view of where I see world economic and political events drawing the forex market. I only intend to have a small number of trades in this category and I am hoping to let them run for months if possible.\r\n\r\nOnce again, I just want to re-iterate my comment from last week. I notice that not very many of you have signed up for “Twitter” updates via @ThePremService. I list all my thoughts here as the week progresses as well as all the trade set-ups. Not all of my thoughts are repeated here in this blog. But, as promised I will post here a full and complete list each weekend of trade set-ups that interest me. I would also add however, I do not chase the market; I will not trade for the sake of trading. I trade only to make money and I manage my risk, very, very tightly. Therefore sometimes there may NOT be many set-ups listed.\r\n\r\nI know that I have been in touch with several of you in the past few days and you are more than happy to trade only weekly from the set-ups posted in this blog. But if you want more background, log into Twitter and you will receive more data and thoughts via @ThePremService.\r\n\r\n<b style=\"line-height: 1.5em;\"><span style=\"text-decoration: underline;\"> </span></b>\r\n\r\n<b><span style=\"text-decoration: underline;\">2. RADAR, FLASH and FUNDAMENTAL TRADES - TRADING SUMMARY:</span></b>\r\n<p style=\"text-align: center;\"><b><span style=\"text-decoration: underline;\"> </span></b><b><span style=\"text-decoration: underline;\">JANUARY 2014 and YEAR to date:</span></b></p>\r\nBelow I show the up to date excel spreadsheets for my various trading styles.\r\n<p style=\"text-align: center;\"><b><span style=\"text-decoration: underline;\">RADAR TRADES:</span></b></p>\r\n<p align=\"center\"><b><span style=\"text-decoration: underline;\"><a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/01/RADAR-TRADES-1-01.02.2014.png\"><img class=\"aligncenter size-full wp-image-3169\" alt=\"RADAR TRADES 1 01.02.2014\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/01/RADAR-TRADES-1-01.02.2014.png\" width=\"544\" height=\"472\" /></a></span></b></p>\r\n<p align=\"center\"> <a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/01/RADAR-TRADES-2-01.02.2014.png\"><img class=\"aligncenter size-full wp-image-3170\" alt=\"RADAR TRADES 2 01.02.2014\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/01/RADAR-TRADES-2-01.02.2014.png\" width=\"541\" height=\"494\" /></a></p>\r\n<p align=\"center\"><b><span style=\"text-decoration: underline;\">PROFITS FROM SINGLE LOT COMPLETED RADAR TRADES:</span></b></p>\r\n<p style=\"text-align: center;\"> 1 x MICRO-LOT:\r\n20 trades at $0.10 cents each = $2.00 risk for a $3.80 reward.</p>\r\n<p style=\"text-align: center;\"><span style=\"line-height: 1.5em;\">1 x MINI-LOT:\r\n</span><span style=\"line-height: 1.5em;\">20 trades at $1.00 each = $20.00 risk for a $38.00 reward.</span></p>\r\n<p style=\"text-align: center;\"><span style=\"line-height: 1.5em;\">1 x STANDARD LOT:\r\n</span><span style=\"line-height: 1.5em;\">20 trades at $10.00 each = $200.00 risk for a $380.00 reward.</span></p>\r\n<p style=\"text-align: center;\"><b><span style=\"text-decoration: underline;\">FLASH TRADES:</span></b></p>\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/01/FLASH-TRADES-1-01.02.2014.png\"><img class=\"aligncenter size-full wp-image-3167\" alt=\"FLASH TRADES 1 01.02.2014\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/01/FLASH-TRADES-1-01.02.2014.png\" width=\"492\" height=\"482\" /></a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/01/FLASH-TRADES-2-01.02.2014.png\"><img class=\"aligncenter size-full wp-image-3168\" alt=\"FLASH TRADES 2 01.02.2014\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/01/FLASH-TRADES-2-01.02.2014.png\" width=\"497\" height=\"502\" /></a>\r\n<p align=\"center\"><b><span style=\"text-decoration: underline;\">PROFITS FROM SINGLE LOT COMPLETED FLASH TRADES:</span></b></p>\r\n<p style=\"text-align: center;\"> 1 x MICRO-LOT:\r\n24 trades at $0.10 cents each = $2.40 cents risk for a $74.70 reward.</p>\r\n<p align=\"center\">1 x MINI-LOT:\r\n24 trades at $1.00 each = $24.00 risk for a $747.00 reward</p>\r\n<p align=\"center\">1 x STANDARD LOT:\r\n24 trades at $10.00 each = $240.00 risk for a $7,470.00 reward</p>\r\n<p align=\"center\"><b><span style=\"text-decoration: underline;\"> </span></b></p>\r\n<p style=\"text-align: center;\"><b><span style=\"text-decoration: underline;\">FUNDAMENTAL TRADES:</span></b></p>\r\n<p align=\"center\"><b><span style=\"text-decoration: underline;\"><a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/01/FUNDAMENTAL-JAN-2014.png\"><img class=\"aligncenter size-full wp-image-3171\" alt=\"FUNDAMENTAL JAN 2014\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/01/FUNDAMENTAL-JAN-2014.png\" width=\"468\" height=\"470\" /></a></span></b></p>\r\n<p align=\"center\"><b><span style=\"text-decoration: underline;\">COMBINED FLASH, RADAR AND FUNDAMENTAL TRADES PROFIT PERFORMANCE</span></b></p>\r\n<p align=\"center\"><b><span style=\"text-decoration: underline;\">JANUARY 2014…SO FAR:</span></b></p>\r\n<p align=\"center\">(There are no closed FUNDAMENTAL TRADES at the present time)</p>\r\n<p align=\"center\">TRADING MICRO-LOTS:\r\n44 trades at $0.10 cents each = $4.40 risk for a $78.50 reward.</p>\r\n<p align=\"center\"> TRADING MINI-LOTS:\r\n44 trades at $1.00 each = $44.00 risk for a $785.00 reward.</p>\r\n<p align=\"center\"> TRADING STANDARD LOTS:\r\n44 trades at $10.00 each = $440.00 risk for a $7,850.00 reward.</p>\r\n&nbsp;\r\n\r\nThe profitability examples detailed above are based solely upon single lot trading, regardless of lot type. If multiple lot sizes are traded the profitability margins will be different than those shown.\r\n\r\nJust to provide more information so you understand where I am coming from with the risk / reward statements above. All of my trades are of different sizes. I like to add to trades, profits are taken as the trade progresses and my overall cost average moves several times. All of my trades are of different lot styles. I trade a mixture of micro lots, mini lots and standard lots across my brokers.\r\n\r\n&nbsp;\r\n\r\n<b><span style=\"text-decoration: underline;\">3. THE FUNDAMENTAL TRADERS OVERVIEW:</span></b>\r\n<p align=\"center\"><b>THE FED versus THE ECB\r\n“THE FED STANDS FIRM / ECB WILL BE LOOKING FOR A CAN TO KICK”</b></p>\r\nLast year when Ben Bernanke announced (surprising the market with the timing) that tapering was going to start at $10 Billion per month and that the FED would be reducing bond purchases by this amount most months until it reaches zero, it was a huge change in FED monetary policy.\r\n\r\nI do not believe until maybe this week that the markets actually fully understood what this meant medium to long term looking forward. Equity market traders having been supported by an overly active FED policy for a number of years through QE simply know nothing but “Buy the dip” when it comes to market participation. However now, as Dylan sings “The Times They are a Changing”\r\n\r\nThere was a lot of chatter pre FOMC that the “Emerging Markets” issues may cause the FED to postpone a cut this meeting. Not a whisper about Emerging Markets in the statement affecting the decision or being taken into any serious consideration. The FED stood firm.\r\n\r\nThis opens up a topic that I have referred to a number of times over the past 12 months….Where does this take the EUR/USD?\r\n\r\n&nbsp;\r\n<p align=\"center\"><a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/01/EURUSD-MONTHLY-01.022014.png\"><img class=\"aligncenter size-large wp-image-3165\" alt=\"EURUSD MONTHLY 01.022014\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/01/EURUSD-MONTHLY-01.022014-1024x516.png\" width=\"1024\" height=\"516\" /></a></p>\r\nThe chart above is a long-term (Monthly) chart. As you can see we are in a descending wedge and recently we tested the upper down sloping trend line. Where are we heading next?\r\n\r\nA confirmed breakdown through 1.3500 certainly opens up a much larger downside opportunity. I am focused initially on the 61.8% Fibonacci retracement level of 1.3320 from the big 1.1659 to 1.6007 move. After this I think that levels of sub 1.3000 appear to be mentioned over and over again (1.2650 is favourite one of my own!!). I really find it hard to see the EUR/USD drop below 1.3000 and stay there.\r\n\r\nAt the back of my mind though, the following haunts me. I look at the FED and the way that it has tackled matters since the financial crisis of 2007-2008 and directly compare it to the ECB way of managing matters. It is a chalk and cheese matter.\r\n\r\nThe FED is proactive, highly communicative and tries through forward guidance to give markets stability by taking away uncertainty.\r\n\r\nOn the other side of the Atlantic Ocean, Jean-Claude Trichet, followed by Mario Draghi operate an ECB driven by reactive policies, most times as a result of the market calling it a crisis.\r\n\r\nA typical example of this was the last ECB rate cut. It followed deflation data (which by the way still exists), when within 48 hours Draghi cut ECB interest rates. It was a total surprise to most people and a knee-jerk reaction. At the ensuing press conference the cut was also described as a measure being taken to help periphery countries.\r\n\r\nWhat good did it do?\r\n\r\nThe EUR/USD aggressively sold off about 150 pips and bounced back to below levels we are at now. Basically, it did nothing.\r\n\r\nThis is the difference between the FED and the ECB.\r\n<p align=\"center\"><strong><i><span style=\"text-decoration: underline;\">“The FED does and the ECB does not”.</span></i></strong></p>\r\nThis last comment may be a little unfair but in the Eurozone the battle to resurrect everything back to “normal” is much, much harder because of the number of countries involved, the ego’s of the personalities involved and the basic mistrust that exists between some countries and politicians\r\n\r\nThe ECB still has many issues to fix: -\r\n<p style=\"text-align: center;\"><strong>UNEMPLOYMENT (in particular youth unemployment)</strong>\r\n<strong>DEFLATION</strong>\r\n<strong>BANK LIQUIDITY (yet another stress test is being planned)</strong>\r\n<strong>BANKING STRENGTH (The long awaited banking union)</strong>\r\n<strong><span style=\"line-height: 1.5em;\">PERIPHERY GROWTH\r\n</span><span style=\"line-height: 1.5em;\">RESTORE MARKET CONFIDENCE IN HOUSING MARKETS</span></strong></p>\r\nFor too long they have been “Kicking cans down the road” and now that the U.S. is starting to bounce back and cut QE the differences in comparisons will become more evident.\r\n\r\nThe ECB needs a crisis to happen to force the issue. Many people are stating that full blown QE is required to fix the Eurozone. I am not 100% sure this is accurate but a market moving definitive LTRO is needed to support the banks. Additionally, they need to be forced through an aggressive ECB rate policy to lend money to small business to create growth. We need another ECB crisis.\r\n\r\nA crisis will add fuel to USD strength and drive the EUR/USD towards 1.3000 and possibly below.\r\n\r\nDraghi, with Merkel (in Berlin) pulling his strings will procrastinate and say things are in-line with expectations. The backdrop is Germany has the chequebook and does not want the invoices to fix the Eurozone as well. I totally get it.\r\n\r\nAs a trader I would look forward to another Eurozone crisis….\r\n\r\n&nbsp;\r\n\r\n<b><span style=\"text-decoration: underline;\">4. TRADER TOPICS:</span></b>\r\n\r\n<b>TRADE PLANS (Delayed):</b>\r\n\r\nI am in the very early stages of writing the next piece for this section on Trade Plans\r\n\r\nI want to include some details of my own plan. This year it has reached 17 pages (including inserts) I am still refining sections in it so that it becomes an almost perfect template moving forward. I am hopeful that I can have ready for next week.\r\n\r\nAfter TRADING PLANS I have been asked to review the following in this section:\r\n<p align=\"center\"><strong>HOW MANY BROKERS SHOULD YOU HAVE?</strong></p>\r\n<p align=\"center\"><strong>WHAT TRADES TO TAKE WITH WHAT BROKERS.</strong></p>\r\n&nbsp;\r\n\r\n<b><span style=\"text-decoration: underline;\">5. MY CURRENT LIVE TRADES:</span></b>\r\n<p style=\"text-align: center;\"><strong><span style=\"text-decoration: underline;\">FLASH TRADES:</span></strong></p>\r\n<p style=\"text-align: center;\"><strong> FT21:</strong>\r\n<strong>EUR/CAD</strong>\r\n<strong>Long</strong>\r\n<strong>Cost Average: 1.5150</strong>\r\n<strong>Stop Loss: 1.4880</strong>\r\n<strong>Limit / Target: 1.7500</strong>\r\n<strong>My Position Size: 10%</strong>\r\n<strong>Closing Weekly Position: 1.5006</strong>\r\n<strong>Profit / Loss: -144pips</strong></p>\r\n<p style=\"text-align: center;\"><strong><span style=\"text-decoration: underline;\">RADAR TRADES:</span></strong></p>\r\n<p style=\"text-align: center;\"><strong> RT29</strong>\r\n<strong>GBP/CAD</strong>\r\n<strong>Long</strong>\r\n<strong>Cost Average: 1.8460</strong>\r\n<strong>Stop Loss: 1.8200</strong>\r\n<strong>Limit / Target: 2.0000</strong>\r\n<strong>My Position Size: 10%</strong>\r\n<strong>Closing Weekly Position: 1.8292</strong>\r\n<strong>Profit / Loss: -168pips</strong></p>\r\n<p style=\"text-align: center;\"><strong>RT30</strong>\r\n<strong>AUD/NZD</strong>\r\n<strong>Long</strong>\r\n<strong>Cost Average: 1.0740</strong>\r\n<strong>Stop Loss: 1.0660</strong>\r\n<strong>Limit / Target: 1.1031</strong>\r\n<strong>My Position Size: 12.5%</strong>\r\n<strong>Closing Weekly Position: 1.0821</strong>\r\n<strong>Profit / Loss: +81pips</strong></p>\r\n<p style=\"text-align: center;\" align=\"center\"><strong> </strong></p>\r\n<p style=\"text-align: center;\"><b><span style=\"text-decoration: underline;\">FUNDAMENTAL TRADES:</span></b></p>\r\n<p style=\"text-align: center;\"> <strong>FUN01</strong>\r\n<strong>EUR/AUD</strong>\r\n<strong>Long</strong>\r\n<strong>Cost Average: 1.5550</strong>\r\n<strong>Stop Loss: 1.5250</strong>\r\n<strong>Limit / Target: 1.7500</strong>\r\n<strong>My Position Size: 7.5%</strong>\r\n<strong>Closing Weekly Position: 1.5401</strong>\r\n<strong>Profit / Loss: -149pips</strong></p>\r\n<p align=\"center\"><strong>FUN02</strong>\r\n<strong>GBP/AUD</strong>\r\n<strong>Long</strong>\r\n<strong>Cost Average: 1.8950</strong>\r\n<strong>Limit / Target: 2.2000</strong>\r\n<strong>My Position Size: 5%</strong>\r\n<strong>Closing Weekly Position: 1.8773</strong>\r\n<strong>Profit / Loss: -177pips</strong></p>\r\n<p align=\"center\"><strong><span style=\"text-decoration: underline;\"> </span></strong></p>\r\n<b><span style=\"text-decoration: underline;\"> </span></b>\r\n\r\n<b><span style=\"text-decoration: underline;\">6. TRADES THAT ARE ON MY RADAR:</span></b>\r\n\r\nI have the following RADAR trades that I will be placing with my brokers on Sunday evening (02.02.2014).\r\n\r\nAs you can see they are the USD majors. I am expecting USD strength to start picking up now following the FOMC. We have several market moving news events this coming week. With this in mind enter small, limit your risk in accordance with your account size and add to your trade sizes as the trades’ progress.\r\n<p align=\"center\"><strong>USD/CAD</strong>\r\n<strong>Long</strong>\r\n<strong>Entry Level: 1.1050</strong>\r\n<strong>Stop Loss: 1.0950</strong>\r\n<strong>Limit / Target: 1.1520</strong></p>\r\n<p style=\"text-align: center;\"><strong> USD/JPY</strong>\r\n<strong>Short</strong>\r\n<strong><span style=\"line-height: 1.5em;\">Entry Level: 102.80\r\nStop Loss: 103.40\r\nLimit / Target: 101.25</span></strong></p>\r\n<p style=\"text-align: center;\"><strong> AUD/USD</strong>\r\n<strong>Short</strong>\r\n<strong>Entry Level: 0.8820</strong>\r\n<strong>Stop Loss: 0.8860</strong>\r\n<strong>Limit / Target: 0.8660</strong></p>\r\n<p align=\"center\"><strong> NZD/USD</strong>\r\n<strong>Short</strong>\r\n<strong>Entry Level: 0.8180</strong>\r\n<strong>Stop Loss: 0.8250</strong>\r\n<strong>Limit / Target: 0.8000</strong></p>\r\n<p align=\"center\"><strong> GBP/USD</strong>\r\n<strong>Short</strong>\r\n<strong>Entry Level: 1.6520</strong>\r\n<strong>Stop Loss 1.6600</strong>\r\n<strong>Limit / Target: 1.6280</strong></p>\r\n<p align=\"center\"><strong> USD/CHF</strong>\r\n<strong>Long</strong>\r\n<strong>Entry Level: 0.9030</strong>\r\n<strong>Stop Loss: 0.8950</strong>\r\n<strong>Limit / Target: 0.9250</strong></p>\r\nI have one potential FUNDAMENTAL TRADE to add at this time.\r\n<p align=\"center\"> <strong>GBP/NZD</strong>\r\n<strong>Long</strong>\r\n<strong>Entry Level: 2.0190</strong>\r\n<strong>Stop Loss: 2.0000</strong>\r\n<strong>Limit / Target: 2.1200</strong></p>\r\n<b><span style=\"text-decoration: underline;\">7. LOOKING FORWARD…THE KEY SUPPORT &amp; RESISTANCE LEVELS WITH THE USD MAJORS:</span></b>\r\n\r\n<b>EUR/USD: Closing Price 1.3485.</b>  We ended the week closing below the key level of 1.3500. There are lots of high-level news items this coming week, in particular the ECB Interest Rate decision and Press Conference on Thursday and then on Friday U.S. Non-Farm payrolls. We could see a huge amount of volatility with this pair. Recent Draghi press conferences have apart from the rate-cut event, been in the main Euro supportive. Having written that I do believe that we are now thanks to the FED having a EUR/USD sentiment change, I therefore see more down side pressure on this pair. Bear in mind though; it will not be a straight down affair. We will push and pull one way then another stepping down towards 1.3000 in my opinion. For this immediate time the range to look at is support at 1.3450 initially, below there 1.3400 and then my target of 1.3320. Upside resistance is good at 1.3585 and 1.3650.\r\n\r\n<b>GBP/USD: Closing Price 1.6438.  </b>Not much of a closing price difference week on week. I do see downside pressure with this pair continuing, but I do find cable hard to read and difficult to follow. The charts show a double top in play with a measure downside move to 1.6300. Resistance should be very good at 1.6525.\r\n\r\n<b>AUD/USD: Closing Price 0.8753</b>.  This pair has been quite elevated all week. When I think that it is going to fall it stays well bid. The RBA meet Monday on Interest Rates and later in the week RBA governor, Stevens releases the latest Monetary Policy Statement. It is well known that the RBA want this pair trading in the mid to low 0.80’s. We are not far away but I still expect a few words on that subject. Do NOT fight a Central Bank.  The Key levels for me right now are 0.8660 to 0.8820\r\n\r\n<b>NZD/USD: Closing Price 0.8074</b>.  I am annoyed that I missed this pair heading lower, but I would not be surprised to see it bounce, strange as that might seem. For now I think we test 0.8000 as support and 0.8180, 0.8250 will offer resistance in the other direction.<b> </b>\r\n\r\n<b>USD/CAD: Closing Price 1.1127. </b>The “Loonie” did it’s thing yesterday (Friday) not quite sure what that was all about but the currency strengthened like crazy and in so doing screwed up my CAD cross rate trades, which I am still in albeit down considerably on pips. If we sell off again at the open tomorrow (Sunday) there could be a great buying opportunity. I see the range though being supported at 1.1085 to 1.1220.\r\n\r\n<b>USD/CHF: Closing Price 0.9058</b>.  Not a bad ending to the week if you are thinking of establishing a long position.  Support should be good at 0.8970 and the topside should have some resistance around 0.9125.\r\n\r\n<b>USD/JPY: Closing Price 102.00. </b> Ready to fall. That is how I would describe the present USD/JPY closing position. 101.75 offers support, if this is broken I can see a bigger move lower. It would be great to get a Sunday night bounce to resistance at 102.80 first and enter short at that level if possible.\r\n\r\n&nbsp;\r\n\r\n<b><span style=\"text-decoration: underline;\">8. MAJOR FOREX NEWS THIS WEEK THAT INTERESTS ME:</span></b>\r\n\r\nSUNDAY: AUD – Building Approvals.\r\n\r\n<span style=\"line-height: 1.5em;\">MONDAY: GBP – Manufacturing PMi.\r\n</span><span style=\"line-height: 1.5em;\">MONDAY: AUD – RBA Statement and Cash Rate.</span>\r\n\r\nTUESDAY: GBP – Construction PMi.\r\nTUESDAY: NZD – Employment Data and Unemployment Rate.\r\n\r\nWEDNESDAY: GBP – Services PMi.\r\nWEDNESDAY: USD – ADP Non-Farm Employment Change.\r\nWEDNESDAY: CAD – Building Permits.\r\n<span style=\"line-height: 1.5em;\">WEDNESDAY: USD – ISM Non-Manufacturing PMi.\r\n</span><span style=\"line-height: 1.5em;\">WEDNESDAY: AUD – Retail Sales and Trade Balance.</span>\r\n\r\nTHURSDAY: GBP – Asset Purchase and Bank Rates.\r\nTHURSDAY: EUR – ECB Interest Rates and Press Conference.\r\nTHURSDAY: CAD – Ivey PMi\r\nTHURSDAY: AUD – RBA Monetary Policy Statement.\r\n\r\nFRIDAY: CAD – Employment Change and Unemployment Rate.\r\nFRIDAY: USD – Non-Farm Employment Change and Unemployment Rate.\r\n\r\n&nbsp;\r\n\r\n<b><span style=\"text-decoration: underline;\">9. FINAL THOUGHTS:</span></b>\r\n\r\nTo say that we have a week with market moving news is a little bit of an understatement. I am expecting a great deal of volatility this week.\r\n\r\nI have lots of trades open and several placed with limit orders. I will be trading 50% sized positions this week to allow for the chaos and disorder that will probably be served up.\r\n\r\nThis is the type of week, when the news items openly encourage numpty politicians to crawl out from under rocks and make stupid attention grabbing headlines. Watch out in particular for this to happen in the Eurozone.\r\n\r\nI have listed many potential trades in this blog. Let me confirm, I have not placed these limit orders with my brokers yet. Wait for twitter for confirmation if you are following these suggestions. If you are not yet signed up for Twitter, pleased give it serious consideration.\r\n\r\nAlways, always remember. There is market everyday. You do not need to trade everyday to make your financial goals. Over the coming weeks I will visit as many topics on trading tips as possible to hopefully help and aid better trading success.\r\n\r\nGood luck and trade within your TRADE PLAN guidelines and most importantly use MONEY MANAGEMENT SKILLS to control your risks.\r\n\r\nScott Pickering\r\nThe Pip Accumulator\r\nSaturday February 1st 2014\r\n\r\nEMAIL / FOLLOW ME AT:\r\npremiumservice@weeklyfxdrivethru.com\r\nTwitter: @pipaccumulator\r\nTwitter: @ThePremService\r\n<span style=\"line-height: 1.5em;\">Google+/scottpickering\r\n</span><span style=\"line-height: 1.5em;\">StockTwits; thepipaccumulator\r\n(01.02.2014 – 2.2)</span>\r\n\r\n&nbsp;','THE FED versus THE ECB “THE FED STANDS FIRM / ECB WOULD BE LOOKING FOR A CAN TO KICK”','','publish','open','closed','','fed-versus-ecb-fed-stands-firm-ecb-looking-can-kick','','','2014-02-01 12:44:57','2014-02-01 17:44:57','',0,'https://weeklyfxdrivethru.com/?post_type=member_posts&#038;p=3181',0,'member_posts','',0),(3183,1,'2014-02-01 12:44:12','2014-02-01 17:44:12','01.02.2014\r\n#2\r\n\r\n<b><span style=\"text-decoration: underline;\">1. INTRODUCTION:</span></b>\r\n\r\nIt was a very volatile past 7 days, I have stuff that I want to add to the PREMIUM SERVICE library of useful training tools but I just have not had the time to physically take a few hours. I really thought that we were going to have a quiet week with only the FED and RBNZ creating any meaningful volatility. The Emerging Markets crisis certainly put my thoughts in the bin, as soon as Turkey followed by South Africa grabbed the headlines with rate hikes.\r\n\r\nThe FED stood firm on tapering and now I think that the lines have been drawn. I will write my thoughts and how I view the EUR/USD later in this blog.\r\n\r\nJanuary was a great income month. Winning trades certainly out-numbered losing trades.\r\n<p align=\"center\"><b>RADAR TRADES:\r\n</b><b>Total Trades: 23\r\n</b><b>Profitable Trades: 17 (65%)\r\n</b><b>Losing Trades: 6 (35%)</b></p>\r\n<p align=\"center\"><b> </b><b>FLASH TRADES:\r\n</b><b>Total Trades: 25\r\n</b><b>Profitable Trades: 24 (96%)\r\n</b><b>Losing Trades: 1 (4%)</b></p>\r\n<p align=\"center\"><b> </b><b>TOTAL JANUARY 2014 PERFORMANCE:\r\n</b><b>Total Trades: 48\r\n</b><b>Profitable Trades: 41 (83%)\r\n</b><b>Losing Trades: 7 (17%)</b></p>\r\n<p align=\"center\">(The summary above does not include any trades opened in January that have not yet been closed)</p>\r\n There were some great scalping / pullback trades in the month (all charts later). If we can keep this performance for the year happy days!!\r\nRealistically I usually look at a 70% / 30% split over an extended period as the average winning to losing trades. The key is to limit losses in financial terms.\r\n\r\nJanuary also saw the launch of my FUNDAMENTAL trades, based upon my macro level view of where I see world economic and political events drawing the forex market. I only intend to have a small number of trades in this category and I am hoping to let them run for months if possible.\r\n\r\nOnce again, I just want to re-iterate my comment from last week. I notice that not very many of you have signed up for “Twitter” updates via @ThePremService. I list all my thoughts here as the week progresses as well as all the trade set-ups. Not all of my thoughts are repeated here in this blog. But, as promised I will post here a full and complete list each weekend of trade set-ups that interest me. I would also add however, I do not chase the market; I will not trade for the sake of trading. I trade only to make money and I manage my risk, very, very tightly. Therefore sometimes there may NOT be many set-ups listed.\r\n\r\nI know that I have been in touch with several of you in the past few days and you are more than happy to trade only weekly from the set-ups posted in this blog. But if you want more background, log into Twitter and you will receive more data and thoughts via @ThePremService.\r\n\r\n<b style=\"line-height: 1.5em;\"><span style=\"text-decoration: underline;\"> </span></b>\r\n\r\n<b><span style=\"text-decoration: underline;\">2. RADAR, FLASH and FUNDAMENTAL TRADES - TRADING SUMMARY:</span></b>\r\n<p style=\"text-align: center;\"><b><span style=\"text-decoration: underline;\"> </span></b><b><span style=\"text-decoration: underline;\">JANUARY 2014 and YEAR to date:</span></b></p>\r\nBelow I show the up to date excel spreadsheets for my various trading styles.\r\n<p style=\"text-align: center;\"><b><span style=\"text-decoration: underline;\">RADAR TRADES:</span></b></p>\r\n<p align=\"center\"><b><span style=\"text-decoration: underline;\"><a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/01/RADAR-TRADES-1-01.02.2014.png\"><img class=\"aligncenter size-full wp-image-3169\" alt=\"RADAR TRADES 1 01.02.2014\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/01/RADAR-TRADES-1-01.02.2014.png\" width=\"544\" height=\"472\" /></a></span></b></p>\r\n<p align=\"center\"> <a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/01/RADAR-TRADES-2-01.02.2014.png\"><img class=\"aligncenter size-full wp-image-3170\" alt=\"RADAR TRADES 2 01.02.2014\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/01/RADAR-TRADES-2-01.02.2014.png\" width=\"541\" height=\"494\" /></a></p>\r\n<p align=\"center\"><b><span style=\"text-decoration: underline;\">PROFITS FROM SINGLE LOT COMPLETED RADAR TRADES:</span></b></p>\r\n<p style=\"text-align: center;\"> 1 x MICRO-LOT:\r\n20 trades at $0.10 cents each = $2.00 risk for a $3.80 reward.</p>\r\n<p style=\"text-align: center;\"><span style=\"line-height: 1.5em;\">1 x MINI-LOT:\r\n</span><span style=\"line-height: 1.5em;\">20 trades at $1.00 each = $20.00 risk for a $38.00 reward.</span></p>\r\n<p style=\"text-align: center;\"><span style=\"line-height: 1.5em;\">1 x STANDARD LOT:\r\n</span><span style=\"line-height: 1.5em;\">20 trades at $10.00 each = $200.00 risk for a $380.00 reward.</span></p>\r\n<p style=\"text-align: center;\"><b><span style=\"text-decoration: underline;\">FLASH TRADES:</span></b></p>\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/01/FLASH-TRADES-1-01.02.2014.png\"><img class=\"aligncenter size-full wp-image-3167\" alt=\"FLASH TRADES 1 01.02.2014\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/01/FLASH-TRADES-1-01.02.2014.png\" width=\"492\" height=\"482\" /></a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/01/FLASH-TRADES-2-01.02.2014.png\"><img class=\"aligncenter size-full wp-image-3168\" alt=\"FLASH TRADES 2 01.02.2014\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/01/FLASH-TRADES-2-01.02.2014.png\" width=\"497\" height=\"502\" /></a>\r\n<p align=\"center\"><b><span style=\"text-decoration: underline;\">PROFITS FROM SINGLE LOT COMPLETED FLASH TRADES:</span></b></p>\r\n<p style=\"text-align: center;\"> 1 x MICRO-LOT:\r\n24 trades at $0.10 cents each = $2.40 cents risk for a $74.70 reward.</p>\r\n<p align=\"center\">1 x MINI-LOT:\r\n24 trades at $1.00 each = $24.00 risk for a $747.00 reward</p>\r\n<p align=\"center\">1 x STANDARD LOT:\r\n24 trades at $10.00 each = $240.00 risk for a $7,470.00 reward</p>\r\n<p align=\"center\"><b><span style=\"text-decoration: underline;\"> </span></b></p>\r\n<p style=\"text-align: center;\"><b><span style=\"text-decoration: underline;\">FUNDAMENTAL TRADES:</span></b></p>\r\n<p align=\"center\"><b><span style=\"text-decoration: underline;\"><a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/01/FUNDAMENTAL-JAN-2014.png\"><img class=\"aligncenter size-full wp-image-3171\" alt=\"FUNDAMENTAL JAN 2014\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/01/FUNDAMENTAL-JAN-2014.png\" width=\"468\" height=\"470\" /></a></span></b></p>\r\n<p align=\"center\"><b><span style=\"text-decoration: underline;\">COMBINED FLASH, RADAR AND FUNDAMENTAL TRADES PROFIT PERFORMANCE</span></b></p>\r\n<p align=\"center\"><b><span style=\"text-decoration: underline;\">JANUARY 2014…SO FAR:</span></b></p>\r\n<p align=\"center\">(There are no closed FUNDAMENTAL TRADES at the present time)</p>\r\n<p align=\"center\">TRADING MICRO-LOTS:\r\n44 trades at $0.10 cents each = $4.40 risk for a $78.50 reward.</p>\r\n<p align=\"center\"> TRADING MINI-LOTS:\r\n44 trades at $1.00 each = $44.00 risk for a $785.00 reward.</p>\r\n<p align=\"center\"> TRADING STANDARD LOTS:\r\n44 trades at $10.00 each = $440.00 risk for a $7,850.00 reward.</p>\r\n&nbsp;\r\n\r\nThe profitability examples detailed above are based solely upon single lot trading, regardless of lot type. If multiple lot sizes are traded the profitability margins will be different than those shown.\r\n\r\nJust to provide more information so you understand where I am coming from with the risk / reward statements above. All of my trades are of different sizes. I like to add to trades, profits are taken as the trade progresses and my overall cost average moves several times. All of my trades are of different lot styles. I trade a mixture of micro lots, mini lots and standard lots across my brokers.\r\n\r\n&nbsp;\r\n\r\n<b><span style=\"text-decoration: underline;\">3. THE FUNDAMENTAL TRADERS OVERVIEW:</span></b>\r\n<p align=\"center\"><b>THE FED versus THE ECB\r\n“THE FED STANDS FIRM / ECB WILL BE LOOKING FOR A CAN TO KICK”</b></p>\r\nLast year when Ben Bernanke announced (surprising the market with the timing) that tapering was going to start at $10 Billion per month and that the FED would be reducing bond purchases by this amount most months until it reaches zero, it was a huge change in FED monetary policy.\r\n\r\nI do not believe until maybe this week that the markets actually fully understood what this meant medium to long term looking forward. Equity market traders having been supported by an overly active FED policy for a number of years through QE simply know nothing but “Buy the dip” when it comes to market participation. However now, as Dylan sings “The Times They are a Changing”\r\n\r\nThere was a lot of chatter pre FOMC that the “Emerging Markets” issues may cause the FED to postpone a cut this meeting. Not a whisper about Emerging Markets in the statement affecting the decision or being taken into any serious consideration. The FED stood firm.\r\n\r\nThis opens up a topic that I have referred to a number of times over the past 12 months….Where does this take the EUR/USD?\r\n\r\n&nbsp;\r\n<p align=\"center\"><a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/01/EURUSD-MONTHLY-01.022014.png\"><img class=\"aligncenter size-large wp-image-3165\" alt=\"EURUSD MONTHLY 01.022014\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/01/EURUSD-MONTHLY-01.022014-1024x516.png\" width=\"1024\" height=\"516\" /></a></p>\r\nThe chart above is a long-term (Monthly) chart. As you can see we are in a descending wedge and recently we tested the upper down sloping trend line. Where are we heading next?\r\n\r\nA confirmed breakdown through 1.3500 certainly opens up a much larger downside opportunity. I am focused initially on the 61.8% Fibonacci retracement level of 1.3320 from the big 1.1659 to 1.6007 move. After this I think that levels of sub 1.3000 appear to be mentioned over and over again (1.2650 is favourite one of my own!!). I really find it hard to see the EUR/USD drop below 1.3000 and stay there.\r\n\r\nAt the back of my mind though, the following haunts me. I look at the FED and the way that it has tackled matters since the financial crisis of 2007-2008 and directly compare it to the ECB way of managing matters. It is a chalk and cheese matter.\r\n\r\nThe FED is proactive, highly communicative and tries through forward guidance to give markets stability by taking away uncertainty.\r\n\r\nOn the other side of the Atlantic Ocean, Jean-Claude Trichet, followed by Mario Draghi operate an ECB driven by reactive policies, most times as a result of the market calling it a crisis.\r\n\r\nA typical example of this was the last ECB rate cut. It followed deflation data (which by the way still exists), when within 48 hours Draghi cut ECB interest rates. It was a total surprise to most people and a knee-jerk reaction. At the ensuing press conference the cut was also described as a measure being taken to help periphery countries.\r\n\r\nWhat good did it do?\r\n\r\nThe EUR/USD aggressively sold off about 150 pips and bounced back to below levels we are at now. Basically, it did nothing.\r\n\r\nThis is the difference between the FED and the ECB.\r\n<p align=\"center\"><strong><i><span style=\"text-decoration: underline;\">“The FED does and the ECB does not”.</span></i></strong></p>\r\nThis last comment may be a little unfair but in the Eurozone the battle to resurrect everything back to “normal” is much, much harder because of the number of countries involved, the ego’s of the personalities involved and the basic mistrust that exists between some countries and politicians\r\n\r\nThe ECB still has many issues to fix: -\r\n<p style=\"text-align: center;\"><strong>UNEMPLOYMENT (in particular youth unemployment)</strong>\r\n<strong>DEFLATION</strong>\r\n<strong>BANK LIQUIDITY (yet another stress test is being planned)</strong>\r\n<strong>BANKING STRENGTH (The long awaited banking union)</strong>\r\n<strong><span style=\"line-height: 1.5em;\">PERIPHERY GROWTH\r\n</span><span style=\"line-height: 1.5em;\">RESTORE MARKET CONFIDENCE IN HOUSING MARKETS</span></strong></p>\r\nFor too long they have been “Kicking cans down the road” and now that the U.S. is starting to bounce back and cut QE the differences in comparisons will become more evident.\r\n\r\nThe ECB needs a crisis to happen to force the issue. Many people are stating that full blown QE is required to fix the Eurozone. I am not 100% sure this is accurate but a market moving definitive LTRO is needed to support the banks. Additionally, they need to be forced through an aggressive ECB rate policy to lend money to small business to create growth. We need another ECB crisis.\r\n\r\nA crisis will add fuel to USD strength and drive the EUR/USD towards 1.3000 and possibly below.\r\n\r\nDraghi, with Merkel (in Berlin) pulling his strings will procrastinate and say things are in-line with expectations. The backdrop is Germany has the chequebook and does not want the invoices to fix the Eurozone as well. I totally get it.\r\n\r\nAs a trader I would look forward to another Eurozone crisis….\r\n\r\n&nbsp;\r\n\r\n<b><span style=\"text-decoration: underline;\">4. TRADER TOPICS:</span></b>\r\n\r\n<b>TRADE PLANS (Delayed):</b>\r\n\r\nI am in the very early stages of writing the next piece for this section on Trade Plans\r\n\r\nI want to include some details of my own plan. This year it has reached 17 pages (including inserts) I am still refining sections in it so that it becomes an almost perfect template moving forward. I am hopeful that I can have ready for next week.\r\n\r\nAfter TRADING PLANS I have been asked to review the following in this section:\r\n<p align=\"center\"><strong>HOW MANY BROKERS SHOULD YOU HAVE?</strong></p>\r\n<p align=\"center\"><strong>WHAT TRADES TO TAKE WITH WHAT BROKERS.</strong></p>\r\n&nbsp;\r\n\r\n<b><span style=\"text-decoration: underline;\">5. MY CURRENT LIVE TRADES:</span></b>\r\n<p style=\"text-align: center;\"><strong><span style=\"text-decoration: underline;\">FLASH TRADES:</span></strong></p>\r\n<p style=\"text-align: center;\"><strong> FT21:</strong>\r\n<strong>EUR/CAD</strong>\r\n<strong>Long</strong>\r\n<strong>Cost Average: 1.5150</strong>\r\n<strong>Stop Loss: 1.4880</strong>\r\n<strong>Limit / Target: 1.7500</strong>\r\n<strong>My Position Size: 10%</strong>\r\n<strong>Closing Weekly Position: 1.5006</strong>\r\n<strong>Profit / Loss: -144pips</strong></p>\r\n<p style=\"text-align: center;\"><strong><span style=\"text-decoration: underline;\">RADAR TRADES:</span></strong></p>\r\n<p style=\"text-align: center;\"><strong> RT29</strong>\r\n<strong>GBP/CAD</strong>\r\n<strong>Long</strong>\r\n<strong>Cost Average: 1.8460</strong>\r\n<strong>Stop Loss: 1.8200</strong>\r\n<strong>Limit / Target: 2.0000</strong>\r\n<strong>My Position Size: 10%</strong>\r\n<strong>Closing Weekly Position: 1.8292</strong>\r\n<strong>Profit / Loss: -168pips</strong></p>\r\n<p style=\"text-align: center;\"><strong>RT30</strong>\r\n<strong>AUD/NZD</strong>\r\n<strong>Long</strong>\r\n<strong>Cost Average: 1.0740</strong>\r\n<strong>Stop Loss: 1.0660</strong>\r\n<strong>Limit / Target: 1.1031</strong>\r\n<strong>My Position Size: 12.5%</strong>\r\n<strong>Closing Weekly Position: 1.0821</strong>\r\n<strong>Profit / Loss: +81pips</strong></p>\r\n<p style=\"text-align: center;\" align=\"center\"><strong> </strong></p>\r\n<p style=\"text-align: center;\"><b><span style=\"text-decoration: underline;\">FUNDAMENTAL TRADES:</span></b></p>\r\n<p style=\"text-align: center;\"> <strong>FUN01</strong>\r\n<strong>EUR/AUD</strong>\r\n<strong>Long</strong>\r\n<strong>Cost Average: 1.5550</strong>\r\n<strong>Stop Loss: 1.5250</strong>\r\n<strong>Limit / Target: 1.7500</strong>\r\n<strong>My Position Size: 7.5%</strong>\r\n<strong>Closing Weekly Position: 1.5401</strong>\r\n<strong>Profit / Loss: -149pips</strong></p>\r\n<p align=\"center\"><strong>FUN02</strong>\r\n<strong>GBP/AUD</strong>\r\n<strong>Long</strong>\r\n<strong>Cost Average: 1.8950</strong>\r\n<strong>Limit / Target: 2.2000</strong>\r\n<strong>My Position Size: 5%</strong>\r\n<strong>Closing Weekly Position: 1.8773</strong>\r\n<strong>Profit / Loss: -177pips</strong></p>\r\n<p align=\"center\"><strong><span style=\"text-decoration: underline;\"> </span></strong></p>\r\n<b><span style=\"text-decoration: underline;\"> </span></b>\r\n\r\n<b><span style=\"text-decoration: underline;\">6. TRADES THAT ARE ON MY RADAR:</span></b>\r\n\r\nI have the following RADAR trades that I will be placing with my brokers on Sunday evening (02.02.2014).\r\n\r\nAs you can see they are the USD majors. I am expecting USD strength to start picking up now following the FOMC. We have several market moving news events this coming week. With this in mind enter small, limit your risk in accordance with your account size and add to your trade sizes as the trades’ progress.\r\n<p align=\"center\"><strong>USD/CAD</strong>\r\n<strong>Long</strong>\r\n<strong>Entry Level: 1.1050</strong>\r\n<strong>Stop Loss: 1.0950</strong>\r\n<strong>Limit / Target: 1.1520</strong></p>\r\n<p style=\"text-align: center;\"><strong> USD/JPY</strong>\r\n<strong>Short</strong>\r\n<strong><span style=\"line-height: 1.5em;\">Entry Level: 102.80\r\nStop Loss: 103.40\r\nLimit / Target: 101.25</span></strong></p>\r\n<p style=\"text-align: center;\"><strong> AUD/USD</strong>\r\n<strong>Short</strong>\r\n<strong>Entry Level: 0.8820</strong>\r\n<strong>Stop Loss: 0.8860</strong>\r\n<strong>Limit / Target: 0.8660</strong></p>\r\n<p align=\"center\"><strong> NZD/USD</strong>\r\n<strong>Short</strong>\r\n<strong>Entry Level: 0.8180</strong>\r\n<strong>Stop Loss: 0.8250</strong>\r\n<strong>Limit / Target: 0.8000</strong></p>\r\n<p align=\"center\"><strong> GBP/USD</strong>\r\n<strong>Short</strong>\r\n<strong>Entry Level: 1.6520</strong>\r\n<strong>Stop Loss 1.6600</strong>\r\n<strong>Limit / Target: 1.6280</strong></p>\r\n<p align=\"center\"><strong> USD/CHF</strong>\r\n<strong>Long</strong>\r\n<strong>Entry Level: 0.9030</strong>\r\n<strong>Stop Loss: 0.8950</strong>\r\n<strong>Limit / Target: 0.9250</strong></p>\r\nI have one potential FUNDAMENTAL TRADE to add at this time.\r\n<p align=\"center\"> <strong>GBP/NZD</strong>\r\n<strong>Long</strong>\r\n<strong>Entry Level: 2.0190</strong>\r\n<strong>Stop Loss: 2.0000</strong>\r\n<strong>Limit / Target: 2.1200</strong></p>\r\n<b><span style=\"text-decoration: underline;\">7. LOOKING FORWARD…THE KEY SUPPORT &amp; RESISTANCE LEVELS WITH THE USD MAJORS:</span></b>\r\n\r\n<b>EUR/USD: Closing Price 1.3485.</b>  We ended the week closing below the key level of 1.3500. There are lots of high-level news items this coming week, in particular the ECB Interest Rate decision and Press Conference on Thursday and then on Friday U.S. Non-Farm payrolls. We could see a huge amount of volatility with this pair. Recent Draghi press conferences have apart from the rate-cut event, been in the main Euro supportive. Having written that I do believe that we are now thanks to the FED having a EUR/USD sentiment change, I therefore see more down side pressure on this pair. Bear in mind though; it will not be a straight down affair. We will push and pull one way then another stepping down towards 1.3000 in my opinion. For this immediate time the range to look at is support at 1.3450 initially, below there 1.3400 and then my target of 1.3320. Upside resistance is good at 1.3585 and 1.3650.\r\n\r\n<b>GBP/USD: Closing Price 1.6438.  </b>Not much of a closing price difference week on week. I do see downside pressure with this pair continuing, but I do find cable hard to read and difficult to follow. The charts show a double top in play with a measure downside move to 1.6300. Resistance should be very good at 1.6525.\r\n\r\n<b>AUD/USD: Closing Price 0.8753</b>.  This pair has been quite elevated all week. When I think that it is going to fall it stays well bid. The RBA meet Monday on Interest Rates and later in the week RBA governor, Stevens releases the latest Monetary Policy Statement. It is well known that the RBA want this pair trading in the mid to low 0.80’s. We are not far away but I still expect a few words on that subject. Do NOT fight a Central Bank.  The Key levels for me right now are 0.8660 to 0.8820\r\n\r\n<b>NZD/USD: Closing Price 0.8074</b>.  I am annoyed that I missed this pair heading lower, but I would not be surprised to see it bounce, strange as that might seem. For now I think we test 0.8000 as support and 0.8180, 0.8250 will offer resistance in the other direction.<b> </b>\r\n\r\n<b>USD/CAD: Closing Price 1.1127. </b>The “Loonie” did it’s thing yesterday (Friday) not quite sure what that was all about but the currency strengthened like crazy and in so doing screwed up my CAD cross rate trades, which I am still in albeit down considerably on pips. If we sell off again at the open tomorrow (Sunday) there could be a great buying opportunity. I see the range though being supported at 1.1085 to 1.1220.\r\n\r\n<b>USD/CHF: Closing Price 0.9058</b>.  Not a bad ending to the week if you are thinking of establishing a long position.  Support should be good at 0.8970 and the topside should have some resistance around 0.9125.\r\n\r\n<b>USD/JPY: Closing Price 102.00. </b> Ready to fall. That is how I would describe the present USD/JPY closing position. 101.75 offers support, if this is broken I can see a bigger move lower. It would be great to get a Sunday night bounce to resistance at 102.80 first and enter short at that level if possible.\r\n\r\n&nbsp;\r\n\r\n<b><span style=\"text-decoration: underline;\">8. MAJOR FOREX NEWS THIS WEEK THAT INTERESTS ME:</span></b>\r\n\r\nSUNDAY: AUD – Building Approvals.\r\n\r\n<span style=\"line-height: 1.5em;\">MONDAY: GBP – Manufacturing PMi.\r\n</span><span style=\"line-height: 1.5em;\">MONDAY: AUD – RBA Statement and Cash Rate.</span>\r\n\r\nTUESDAY: GBP – Construction PMi.\r\nTUESDAY: NZD – Employment Data and Unemployment Rate.\r\n\r\nWEDNESDAY: GBP – Services PMi.\r\nWEDNESDAY: USD – ADP Non-Farm Employment Change.\r\nWEDNESDAY: CAD – Building Permits.\r\n<span style=\"line-height: 1.5em;\">WEDNESDAY: USD – ISM Non-Manufacturing PMi.\r\n</span><span style=\"line-height: 1.5em;\">WEDNESDAY: AUD – Retail Sales and Trade Balance.</span>\r\n\r\nTHURSDAY: GBP – Asset Purchase and Bank Rates.\r\nTHURSDAY: EUR – ECB Interest Rates and Press Conference.\r\nTHURSDAY: CAD – Ivey PMi\r\nTHURSDAY: AUD – RBA Monetary Policy Statement.\r\n\r\nFRIDAY: CAD – Employment Change and Unemployment Rate.\r\nFRIDAY: USD – Non-Farm Employment Change and Unemployment Rate.\r\n\r\n&nbsp;\r\n\r\n<b><span style=\"text-decoration: underline;\">9. FINAL THOUGHTS:</span></b>\r\n\r\nTo say that we have a week with market moving news is a little bit of an understatement. I am expecting a great deal of volatility this week.\r\n\r\nI have lots of trades open and several placed with limit orders. I will be trading 50% sized positions this week to allow for the chaos and disorder that will probably be served up.\r\n\r\nThis is the type of week, when the news items openly encourage numpty politicians to crawl out from under rocks and make stupid attention grabbing headlines. Watch out in particular for this to happen in the Eurozone.\r\n\r\nI have listed many potential trades in this blog. Let me confirm, I have not placed these limit orders with my brokers yet. Wait for twitter for confirmation if you are following these suggestions. If you are not yet signed up for Twitter, pleased give it serious consideration.\r\n\r\nAlways, always remember. There is market everyday. You do not need to trade everyday to make your financial goals. Over the coming weeks I will visit as many topics on trading tips as possible to hopefully help and aid better trading success.\r\n\r\nGood luck and trade within your TRADE PLAN guidelines and most importantly use MONEY MANAGEMENT SKILLS to control your risks.\r\n\r\nScott Pickering\r\nThe Pip Accumulator\r\nSaturday February 1st 2014\r\n\r\nEMAIL / FOLLOW ME AT:\r\npremiumservice@weeklyfxdrivethru.com\r\nTwitter: @pipaccumulator\r\nTwitter: @ThePremService\r\n<span style=\"line-height: 1.5em;\">Google+/scottpickering\r\n</span><span style=\"line-height: 1.5em;\">StockTwits; thepipaccumulator\r\n(01.02.2014 – 2.2)</span>\r\n\r\n&nbsp;','THE FED versus THE ECB “THE FED STANDS FIRM / ECB WOULD BE LOOKING FOR A CAN TO KICK”','','inherit','open','closed','','3181-revision-v1','','','2014-02-01 12:44:12','2014-02-01 17:44:12','',3181,'https://weeklyfxdrivethru.com/3181-revision-v1/',0,'revision','',0),(3182,1,'2014-02-01 12:42:18','2014-02-01 17:42:18','01.02.2014\r\n#2\r\n\r\n<b><span style=\"text-decoration: underline;\">1. INTRODUCTION:</span></b>\r\n\r\nIt was a very volatile past 7 days, I have stuff that I want to add to the PREMIUM SERVICE library of useful training tools but I just have not had the time to physically take a few hours. I really thought that we were going to have a quiet week with only the FED and RBNZ creating any meaningful volatility. The Emerging Markets crisis certainly put my thoughts in the bin, as soon as Turkey followed by South Africa grabbed the headlines with rate hikes.\r\n\r\nThe FED stood firm on tapering and now I think that the lines have been drawn. I will write my thoughts and how I view the EUR/USD later in this blog.\r\n\r\nJanuary was a great income month. Winning trades certainly out-numbered losing trades.\r\n<p align=\"center\"><b>RADAR TRADES:\r\n</b><b>Total Trades: 23\r\n</b><b>Profitable Trades: 17 (65%)\r\n</b><b>Losing Trades: 6 (35%)</b></p>\r\n<p align=\"center\"><b> </b><b>FLASH TRADES:\r\n</b><b>Total Trades: 25\r\n</b><b>Profitable Trades: 24 (96%)\r\n</b><b>Losing Trades: 1 (4%)</b></p>\r\n<p align=\"center\"><b> </b><b>TOTAL JANUARY 2014 PERFORMANCE:\r\n</b><b>Total Trades: 48\r\n</b><b>Profitable Trades: 41 (83%)\r\n</b><b>Losing Trades: 7 (17%)</b></p>\r\n<p align=\"center\">(The summary above does not include any trades opened in January that have not yet been closed)</p>\r\n There were some great scalping / pullback trades in the month (all charts later). If we can keep this performance for the year happy days!!\r\nRealistically I usually look at a 70% / 30% split over an extended period as the average winning to losing trades. The key is to limit losses in financial terms.\r\n\r\nJanuary also saw the launch of my FUNDAMENTAL trades, based upon my macro level view of where I see world economic and political events drawing the forex market. I only intend to have a small number of trades in this category and I am hoping to let them run for months if possible.\r\n\r\nOnce again, I just want to re-iterate my comment from last week. I notice that not very many of you have signed up for “Twitter” updates via @ThePremService. I list all my thoughts here as the week progresses as well as all the trade set-ups. Not all of my thoughts are repeated here in this blog. But, as promised I will post here a full and complete list each weekend of trade set-ups that interest me. I would also add however, I do not chase the market; I will not trade for the sake of trading. I trade only to make money and I manage my risk, very, very tightly. Therefore sometimes there may NOT be many set-ups listed.\r\n\r\nI know that I have been in touch with several of you in the past few days and you are more than happy to trade only weekly from the set-ups posted in this blog. But if you want more background, log into Twitter and you will receive more data and thoughts via @ThePremService.\r\n\r\n<b style=\"line-height: 1.5em;\"><span style=\"text-decoration: underline;\"> </span></b>\r\n\r\n<b><span style=\"text-decoration: underline;\">2. RADAR, FLASH and FUNDAMENTAL TRADES -TRADING SUMMARY:</span></b>\r\n<p style=\"text-align: center;\"><b><span style=\"text-decoration: underline;\"> </span></b><b><span style=\"text-decoration: underline;\">JANUARY 2014 and YEAR to date:</span></b></p>\r\nBelow I show the up to date excel spreadsheets for my various trading styles.\r\n<p style=\"text-align: center;\"><b><span style=\"text-decoration: underline;\">RADAR TRADES:</span></b></p>\r\n<p align=\"center\"><b><span style=\"text-decoration: underline;\"><a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/01/RADAR-TRADES-1-01.02.2014.png\"><img class=\"aligncenter size-full wp-image-3169\" alt=\"RADAR TRADES 1 01.02.2014\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/01/RADAR-TRADES-1-01.02.2014.png\" width=\"544\" height=\"472\" /></a></span></b></p>\r\n<p align=\"center\"> <a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/01/RADAR-TRADES-2-01.02.2014.png\"><img class=\"aligncenter size-full wp-image-3170\" alt=\"RADAR TRADES 2 01.02.2014\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/01/RADAR-TRADES-2-01.02.2014.png\" width=\"541\" height=\"494\" /></a></p>\r\n<p align=\"center\"></p>\r\n<p align=\"center\"><b><span style=\"text-decoration: underline;\">PROFITS FROM SINGLE LOT COMPLETED RADAR TRADES:</span></b></p>\r\n<p style=\"text-align: center;\"> 1 x MICRO-LOT:\r\n20 trades at $0.10 cents each = $2.00 risk for a $3.80 reward.\r\n\r\n<span style=\"line-height: 1.5em;\">1 x MINI-LOT:\r\n</span><span style=\"line-height: 1.5em;\">20 trades at $1.00 each = $20.00 risk for a $38.00 reward.\r\n\r\n</span><span style=\"line-height: 1.5em;\">1 x STANDARD LOT:\r\n</span><span style=\"line-height: 1.5em;\">20 trades at $10.00 each = $200.00 risk for a $380.00 reward.</span></p>\r\n<p style=\"text-align: center;\"></p>\r\n<p style=\"text-align: center;\"><b><span style=\"text-decoration: underline;\">FLASH TRADES:</span></b></p>\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/01/FLASH-TRADES-1-01.02.2014.png\"><img class=\"aligncenter size-full wp-image-3167\" alt=\"FLASH TRADES 1 01.02.2014\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/01/FLASH-TRADES-1-01.02.2014.png\" width=\"492\" height=\"482\" /></a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/01/FLASH-TRADES-2-01.02.2014.png\"><img class=\"aligncenter size-full wp-image-3168\" alt=\"FLASH TRADES 2 01.02.2014\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/01/FLASH-TRADES-2-01.02.2014.png\" width=\"497\" height=\"502\" /></a>\r\n<p align=\"center\"><b><span style=\"text-decoration: underline;\">PROFITS FROM SINGLE LOT COMPLETED FLASH TRADES:</span></b></p>\r\n<p style=\"text-align: center;\"> 1 x MICRO-LOT:\r\n24 trades at $0.10 cents each = $2.40 cents risk for a $74.70 reward.</p>\r\n<p align=\"center\">1 x MINI-LOT:\r\n24 trades at $1.00 each = $24.00 risk for a $747.00 reward</p>\r\n<p align=\"center\">1 x STANDARD LOT:\r\n24 trades at $10.00 each = $240.00 risk for a $7,470.00 reward</p>\r\n<p align=\"center\"><b><span style=\"text-decoration: underline;\"> </span></b></p>\r\n<p style=\"text-align: center;\"><b><span style=\"text-decoration: underline;\">FUNDAMENTAL TRADES:</span></b></p>\r\n&nbsp;\r\n<p align=\"center\"><b><span style=\"text-decoration: underline;\"><a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/01/FUNDAMENTAL-JAN-2014.png\"><img class=\"aligncenter size-full wp-image-3171\" alt=\"FUNDAMENTAL JAN 2014\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/01/FUNDAMENTAL-JAN-2014.png\" width=\"468\" height=\"470\" /></a></span></b></p>\r\n<p align=\"center\"><b><span style=\"text-decoration: underline;\">COMBINED FLASH, RADAR AND FUNDAMENTAL TRADES PROFIT PERFORMANCE</span></b></p>\r\n<p align=\"center\"><b><span style=\"text-decoration: underline;\">JANUARY 2014…SO FAR:</span></b></p>\r\n<p align=\"center\">(There are no closed FUNDAMENTAL TRADES at the present time)</p>\r\n<p align=\"center\">TRADING MICRO-LOTS:\r\n44 trades at $0.10 cents each = $4.40 risk for a $78.50 reward.</p>\r\n<p align=\"center\"> TRADING MINI-LOTS:\r\n44 trades at $1.00 each = $44.00 risk for a $785.00 reward.</p>\r\n<p align=\"center\"> TRADING STANDARD LOTS:\r\n44 trades at $10.00 each = $440.00 risk for a $7,850.00 reward.</p>\r\n&nbsp;\r\n\r\nThe profitability examples detailed above are based solely upon single lot trading, regardless of lot type. If multiple lot sizes are traded the profitability margins will be different than those shown.\r\n\r\nJust to provide more information so you understand where I am coming from with the risk / reward statements above. All of my trades are of different sizes. I like to add to trades, profits are taken as the trade progresses and my overall cost average moves several times. All of my trades are of different lot styles. I trade a mixture of micro lots, mini lots and standard lots across my brokers.\r\n\r\n&nbsp;\r\n\r\n<b><span style=\"text-decoration: underline;\">3. THE FUNDAMENTAL TRADERS OVERVIEW:</span></b>\r\n<p align=\"center\"><b>THE FED versus THE ECB\r\n“THE FED STANDS FIRM / ECB WILL BE LOOKING FOR A CAN TO KICK”</b></p>\r\nLast year when Ben Bernanke announced (surprising the market with the timing) that tapering was going to start at $10 Billion per month and that the FED would be reducing bond purchases by this amount most months until it reaches zero, it was a huge change in FED monetary policy.\r\n\r\nI do not believe until maybe this week that the markets actually fully understood what this meant medium to long term looking forward. Equity market traders having been supported by an overly active FED policy for a number of years through QE simply know nothing but “Buy the dip” when it comes to market participation. However now, as Dylan sings “The Times They are a Changing”\r\n\r\nThere was a lot of chatter pre FOMC that the “Emerging Markets” issues may cause the FED to postpone a cut this meeting. Not a whisper about Emerging Markets in the statement affecting the decision or being taken into any serious consideration. The FED stood firm.\r\n\r\nThis opens up a topic that I have referred to a number of times over the past 12 months….Where does this take the EUR/USD?\r\n\r\n&nbsp;\r\n<p align=\"center\"><a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/01/EURUSD-MONTHLY-01.022014.png\"><img class=\"aligncenter size-large wp-image-3165\" alt=\"EURUSD MONTHLY 01.022014\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/01/EURUSD-MONTHLY-01.022014-1024x516.png\" width=\"1024\" height=\"516\" /></a></p>\r\n\r\n\r\nThe chart above is a long-term (Monthly) chart. As you can see we are in a descending wedge and recently we tested the upper down sloping trend line. Where are we heading next?\r\n\r\nA confirmed breakdown through 1.3500 certainly opens up a much larger downside opportunity. I am focused initially on the 61.8% Fibonacci retracement level of 1.3320 from the big 1.1659 to 1.6007 move. After this I think that levels of sub 1.3000 appear to be mentioned over and over again (1.2650 is favourite one of my own!!). I really find it hard to see the EUR/USD drop below 1.3000 and stay there.\r\n\r\nAt the back of my mind though, the following haunts me. I look at the FED and the way that it has tackled matters since the financial crisis of 2007-2008 and directly compare it to the ECB way of managing matters. It is a chalk and cheese matter.\r\n\r\nThe FED is proactive, highly communicative and tries through forward guidance to give markets stability by taking away uncertainty.\r\n\r\nOn the other side of the Atlantic Ocean, Jean-Claude Trichet, followed by Mario Draghi operate an ECB driven by reactive policies, most times as a result of the market calling it a crisis.\r\n\r\nA typical example of this was the last ECB rate cut. It followed deflation data (which by the way still exists), when within 48 hours Draghi cut ECB interest rates. It was a total surprise to most people and a knee-jerk reaction. At the ensuing press conference the cut was also described as a measure being taken to help periphery countries.\r\n\r\nWhat good did it do?\r\n\r\nThe EUR/USD aggressively sold off about 150 pips and bounced back to below levels we are at now. Basically, it did nothing.\r\n\r\nThis is the difference between the FED and the ECB.\r\n<p align=\"center\"><strong><i><span style=\"text-decoration: underline;\">“The FED does and the ECB does not”.</span></i></strong></p>\r\nThis last comment may be a little unfair but in the Eurozone the battle to resurrect everything back to “normal” is much, much harder because of the number of countries involved, the ego’s of the personalities involved and the basic mistrust that exists between some countries and politicians\r\n\r\nThe ECB still has many issues to fix: -\r\n<p style=\"text-align: center;\">U<strong>NEMPLOYMENT (in particular youth unemployment)</strong>\r\n<strong>DEFLATION</strong>\r\n<strong>BANK LIQUIDITY (yet another stress test is being planned)</strong>\r\n<strong>BANKING STRENGTH (The long awaited banking union)</strong>\r\n<strong><span style=\"line-height: 1.5em;\">PERIPHERY GROWTH\r\n</span><span style=\"line-height: 1.5em;\">RESTORE MARKET CONFIDENCE IN HOUSING MARKETS</span></strong></p>\r\nFor too long they have been “Kicking cans down the road” and now that the U.S. is starting to bounce back and cut QE the differences in comparisons will become more evident.\r\n\r\nThe ECB needs a crisis to happen to force the issue. Many people are stating that full blown QE is required to fix the Eurozone. I am not 100% sure this is accurate but a market moving definitive LTRO is needed to support the banks. Additionally, they need to be forced through an aggressive ECB rate policy to lend money to small business to create growth. We need another ECB crisis.\r\n\r\nA crisis will add fuel to USD strength and drive the EUR/USD towards 1.3000 and possibly below.\r\n\r\nDraghi, with Merkel (in Berlin) pulling his strings will procrastinate and say things are in-line with expectations. The backdrop is Germany has the chequebook and does not want the invoices to fix the Eurozone as well. I totally get it.\r\n\r\nAs a trader I would look forward to another Eurozone crisis….\r\n\r\n&nbsp;\r\n\r\n<b><span style=\"text-decoration: underline;\">4. TRADER TOPICS:</span></b>\r\n\r\n<b>TRADE PLANS (Delayed):</b>\r\n\r\nI am in the very early stages of writing the next piece for this section on Trade Plans\r\n\r\nI want to include some details of my own plan. This year it has reached 17 pages (including inserts) I am still refining sections in it so that it becomes an almost perfect template moving forward. I am hopeful that I can have ready for next week.\r\n\r\nAfter TRADING PLANS I have been asked to review the following in this section:\r\n<p align=\"center\"><strong>HOW MANY BROKERS SHOULD YOU HAVE?</strong></p>\r\n<p align=\"center\"><strong>WHAT TRADES TO TAKE WITH WHAT BROKERS.</strong></p>\r\n&nbsp;\r\n\r\n<b><span style=\"text-decoration: underline;\">5. MY CURRENT LIVE TRADES:</span></b>\r\n<p style=\"text-align: center;\"><strong><span style=\"text-decoration: underline;\">FLASH TRADES:</span></strong></p>\r\n<p style=\"text-align: center;\"><strong> FT21:</strong>\r\n<strong>EUR/CAD</strong>\r\n<strong>Long</strong>\r\n<strong>Cost Average: 1.5150</strong>\r\n<strong>Stop Loss: 1.4880</strong>\r\n<strong>Limit / Target: 1.7500</strong>\r\n<strong>My Position Size: 10%</strong>\r\n<strong>Closing Weekly Position: 1.5006</strong>\r\n<strong>Profit / Loss: -144pips</strong></p>\r\n<p style=\"text-align: center;\"></p>\r\n<p style=\"text-align: center;\"><strong><span style=\"text-decoration: underline;\">RADAR TRADES:</span></strong></p>\r\n<p style=\"text-align: center;\"><strong> RT29</strong>\r\n<strong>GBP/CAD</strong>\r\n<strong>Long</strong>\r\n<strong>Cost Average: 1.8460</strong>\r\n<strong>Stop Loss: 1.8200</strong>\r\n<strong>Limit / Target: 2.0000</strong>\r\n<strong>My Position Size: 10%</strong>\r\n<strong>Closing Weekly Position: 1.8292</strong>\r\n<strong>Profit / Loss: -168pips</strong>\r\n\r\n<strong>RT30</strong>\r\n<strong>AUD/NZD</strong>\r\n<strong>Long</strong>\r\n<strong>Cost Average: 1.0740</strong>\r\n<strong>Stop Loss: 1.0660</strong>\r\n<strong>Limit / Target: 1.1031</strong>\r\n<strong>My Position Size: 12.5%</strong>\r\n<strong>Closing Weekly Position: 1.0821</strong>\r\n<strong>Profit / Loss: +81pips</strong></p>\r\n<p style=\"text-align: center;\" align=\"center\"><strong> </strong></p>\r\n<p style=\"text-align: center;\"><b><span style=\"text-decoration: underline;\">FUNDAMENTAL TRADES:</span></b></p>\r\n<p style=\"text-align: center;\"> <strong>FUN01</strong>\r\n<strong>EUR/AUD</strong>\r\n<strong>Long</strong>\r\n<strong>Cost Average: 1.5550</strong>\r\n<strong>Stop Loss: 1.5250</strong>\r\n<strong>Limit / Target: 1.7500</strong>\r\n<strong>My Position Size: 7.5%</strong>\r\n<strong>Closing Weekly Position: 1.5401</strong>\r\n<strong>Profit / Loss: -149pips</strong></p>\r\n<p align=\"center\"><strong>FUN02</strong>\r\n<strong>GBP/AUD</strong>\r\n<strong>Long</strong>\r\n<strong>Cost Average: 1.8950</strong>\r\n<strong>Limit / Target: 2.2000</strong>\r\n<strong>My Position Size: 5%</strong>\r\n<strong>Closing Weekly Position: 1.8773</strong>\r\n<strong>Profit / Loss: -177pips</strong></p>\r\n<p align=\"center\"><strong><span style=\"text-decoration: underline;\"> </span></strong></p>\r\n<b><span style=\"text-decoration: underline;\"> </span></b>\r\n\r\n<b><span style=\"text-decoration: underline;\">6. TRADES THAT ARE ON MY RADAR:</span></b>\r\n\r\nI have the following RADAR trades that I will be placing with my brokers on Sunday evening (02.02.2014).\r\n\r\nAs you can see they are the USD majors. I am expecting USD strength to start picking up now following the FOMC. We have several market moving news events this coming week. With this in mind enter small, limit your risk in accordance with your account size and add to your trade sizes as the trades’ progress.\r\n<p align=\"center\"><strong>USD/CAD</strong>\r\n<strong>Long</strong>\r\n<strong>Entry Level: 1.1050</strong>\r\n<strong>Stop Loss: 1.0950</strong>\r\n<strong>Limit / Target: 1.1520</strong></p>\r\n<p style=\"text-align: center;\"><strong> USD/JPY</strong>\r\n<strong>Short</strong>\r\n<strong><span style=\"line-height: 1.5em;\">Entry Level: 102.80\r\nStop Loss: 103.40\r\nLimit / Target: 101.25</span></strong></p>\r\n<p style=\"text-align: center;\"><strong> AUD/USD</strong>\r\n<strong>Short</strong>\r\n<strong>Entry Level: 0.8820</strong>\r\n<strong>Stop Loss: 0.8860</strong>\r\n<strong>Limit / Target: 0.8660</strong></p>\r\n<p align=\"center\"><strong> NZD/USD</strong>\r\n<strong>Short</strong>\r\n<strong>Entry Level: 0.8180</strong>\r\n<strong>Stop Loss: 0.8250</strong>\r\n<strong>Limit / Target: 0.8000</strong></p>\r\n<p align=\"center\"><strong> GBP/USD</strong>\r\n<strong>Short</strong>\r\n<strong>Entry Level: 1.6520</strong>\r\n<strong>Stop Loss 1.6600</strong>\r\n<strong>Limit / Target: 1.6280</strong></p>\r\n<p align=\"center\"><strong> USD/CHF</strong>\r\n<strong>Long</strong>\r\n<strong>Entry Level: 0.9030</strong>\r\n<strong>Stop Loss: 0.8950</strong>\r\n<strong>Limit / Target: 0.9250</strong></p>\r\nI have one potential FUNDAMENTAL TRADE to add at this time.\r\n<p align=\"center\"> <strong>GBP/NZD</strong>\r\n<strong>Long</strong>\r\n<strong>Entry Level: 2.0190</strong>\r\n<strong>Stop Loss: 2.0000</strong>\r\n<strong>Limit / Target: 2.1200</strong></p>\r\n<p align=\"center\"></p>\r\n<b><span style=\"text-decoration: underline;\">7. LOOKING FORWARD…THE KEY SUPPORT &amp; RESISTANCE LEVELS WITH THE USD MAJORS:</span></b>\r\n\r\n<b>EUR/USD: Closing Price 1.3485.</b>  We ended the week closing below the key level of 1.3500. There are lots of high-level news items this coming week, in particular the ECB Interest Rate decision and Press Conference on Thursday and then on Friday U.S. Non-Farm payrolls. We could see a huge amount of volatility with this pair. Recent Draghi press conferences have apart from the rate-cut event, been in the main Euro supportive. Having written that I do believe that we are now thanks to the FED having a EUR/USD sentiment change, I therefore see more down side pressure on this pair. Bear in mind though; it will not be a straight down affair. We will push and pull one way then another stepping down towards 1.3000 in my opinion. For this immediate time the range to look at is support at 1.3450 initially, below there 1.3400 and then my target of 1.3320. Upside resistance is good at 1.3585 and 1.3650.\r\n\r\n<b>GBP/USD: Closing Price 1.6438.  </b>Not much of a closing price difference week on week. I do see downside pressure with this pair continuing, but I do find cable hard to read and difficult to follow. The charts show a double top in play with a measure downside move to 1.6300. Resistance should be very good at 1.6525.\r\n\r\n<b>AUD/USD: Closing Price 0.8753</b>.  This pair has been quite elevated all week. When I think that it is going to fall it stays well bid. The RBA meet Monday on Interest Rates and later in the week RBA governor, Stevens releases the latest Monetary Policy Statement. It is well known that the RBA want this pair trading in the mid to low 0.80’s. We are not far away but I still expect a few words on that subject. Do NOT fight a Central Bank.  The Key levels for me right now are 0.8660 to 0.8820\r\n\r\n<b>NZD/USD: Closing Price 0.8074</b>.  I am annoyed that I missed this pair heading lower, but I would not be surprised to see it bounce, strange as that might seem. For now I think we test 0.8000 as support and 0.8180, 0.8250 will offer resistance in the other direction.<b> </b>\r\n\r\n<b>USD/CAD: Closing Price 1.1127. </b>The “Loonie” did it’s thing yesterday (Friday) not quite sure what that was all about but the currency strengthened like crazy and in so doing screwed up my CAD cross rate trades, which I am still in albeit down considerably on pips. If we sell off again at the open tomorrow (Sunday) there could be a great buying opportunity. I see the range though being supported at 1.1085 to 1.1220.\r\n\r\n<b>USD/CHF: Closing Price 0.9058</b>.  Not a bad ending to the week if you are thinking of establishing a long position.  Support should be good at 0.8970 and the topside should have some resistance around 0.9125.\r\n\r\n<b>USD/JPY: Closing Price 102.00. </b> Ready to fall. That is how I would describe the present USD/JPY closing position. 101.75 offers support, if this is broken I can see a bigger move lower. It would be great to get a Sunday night bounce to resistance at 102.80 first and enter short at that level if possible.\r\n\r\n&nbsp;\r\n\r\n<b><span style=\"text-decoration: underline;\">8. MAJOR FOREX NEWS THIS WEEK THAT INTERESTS ME:</span></b>\r\n\r\nSUNDAY: AUD – Building Approvals.\r\n\r\n<span style=\"line-height: 1.5em;\">MONDAY: GBP – Manufacturing PMi.\r\n</span><span style=\"line-height: 1.5em;\">MONDAY: AUD – RBA Statement and Cash Rate.</span>\r\n\r\nTUESDAY: GBP – Construction PMi.\r\nTUESDAY: NZD – Employment Data and Unemployment Rate.\r\n\r\nWEDNESDAY: GBP – Services PMi.\r\nWEDNESDAY: USD – ADP Non-Farm Employment Change.\r\nWEDNESDAY: CAD – Building Permits.\r\n<span style=\"line-height: 1.5em;\">WEDNESDAY: USD – ISM Non-Manufacturing PMi.\r\n</span><span style=\"line-height: 1.5em;\">WEDNESDAY: AUD – Retail Sales and Trade Balance.</span>\r\n\r\nTHURSDAY: GBP – Asset Purchase and Bank Rates.\r\nTHURSDAY: EUR – ECB Interest Rates and Press Conference.\r\nTHURSDAY: CAD – Ivey PMi\r\nTHURSDAY: AUD – RBA Monetary Policy Statement.\r\n\r\nFRIDAY: CAD – Employment Change and Unemployment Rate.\r\nFRIDAY: USD – Non-Farm Employment Change and Unemployment Rate.\r\n\r\n&nbsp;\r\n\r\n<b><span style=\"text-decoration: underline;\">9. FINAL THOUGHTS:</span></b>\r\n\r\nTo say that we have a week with market moving news is a little bit of an understatement. I am expecting a great deal of volatility this week.\r\n\r\nI have lots of trades open and several placed with limit orders. I will be trading 50% sized positions this week to allow for the chaos and disorder that will probably be served up.\r\n\r\nThis is the type of week, when the news items openly encourage numpty politicians to crawl out from under rocks and make stupid attention grabbing headlines. Watch out in particular for this to happen in the Eurozone.\r\n\r\nI have listed many potential trades in this blog. Let me confirm, I have not placed these limit orders with my brokers yet. Wait for twitter for confirmation if you are following these suggestions. If you are not yet signed up for Twitter, pleased give it serious consideration.\r\n\r\nAlways, always remember. There is market everyday. You do not need to trade everyday to make your financial goals. Over the coming weeks I will visit as many topics on trading tips as possible to hopefully help and aid better trading success.\r\n\r\nGood luck and trade within your TRADE PLAN guidelines and most importantly use MONEY MANGEMENT SKILLS to control your risks.\r\n\r\nScott Pickering\r\nThe Pip Accumulator\r\nSaturday February 1st 2014\r\n\r\nEMAIL / FOLLOW ME AT:\r\npremiumservice@weeklyfxdrivethru.com\r\nTwitter: @pipaccumulator\r\nTwitter: @ThePremService\r\n<span style=\"line-height: 1.5em;\">Google+/scottpickering\r\n</span><span style=\"line-height: 1.5em;\">StockTwits; thepipaccumulator\r\n(01.02.2014 – 2.2)</span>\r\n\r\n&nbsp;','THE FED versus THE ECB “THE FED STANDS FIRM / ECB WOULD BE LOOKING FOR A CAN TO KICK”','','inherit','open','closed','','3181-revision-v1','','','2014-02-01 12:42:18','2014-02-01 17:42:18','',3181,'https://weeklyfxdrivethru.com/3181-revision-v1/',0,'revision','',0),(3199,1,'2014-02-08 10:59:19','2014-02-08 15:59:19','WEEKLY FX DRIVE-THRU\r\n08.02.2014\r\n\r\n<b><span style=\"text-decoration: underline;\">1. INTRODUCTION:</span></b>\r\n\r\nWell, that was a very difficult week to understand at times.\r\n\r\nThe three major news events in the week that interested me had me a little confused and perplexed:\r\n\r\n<span style=\"text-decoration: underline;\">RBA Interest Rate Announcement and Statement:</span>\r\n\r\nInterest rates were left unchanged, this was strongly believed to be what would happen so there were no surprises but I found the policy statement a little confusing.\r\nFor the past few months RBA Governor Stevens had been talking down AUD strength and even went so far as to say that an exchange rate level of about 0.8500 would be a reasonable level as far as the Central Bank was concerned.\r\nNow we witness an about turn, we are all bullish again, and things were maybe not so bad as we had been saying for the past few months. The comment in the press release regarding currency guidance has now been removed.\r\nThe result on this RBA “Hallelujah moment” (positive view) was that the AUD/USD rallied from near critical support levels of 0.8660 back towards 0.8900.\r\nThis move offers up the potential for some great entries short again in the near future if the equities markets sell off.\r\nThe downside of this change in RBA sentiment from a personal viewpoint were that my FUNDAMENTAL AUD and NZD (in sympathy) cross-rate trades, were whacked across the board, and I decided to exit with losses.\r\n\r\n<span style=\"text-decoration: underline;\">ECB Interest Rate and Press Conference:</span>\r\n\r\nOnce again I found the market reaction to Draghi’s comments a little strange to say the least. I am commenting later in the blog about this particular news event.\r\n\r\n<span style=\"text-decoration: underline;\">U.S. Non-Farm Payrolls:</span>\r\n\r\nAnother big miss, that’s two months in a row. As usual with NFP there is an instant ‘Knee-jerk” reaction probably in line with your thinking……then it turns and runs off in the opposite direction. It did exactly this once again, futures took a poor number on the chin and then they rallied back hard to end the day 23.59 points (1.33%) positive.\r\nIf you get suckered into move it can be very costly. I tweeted several times across both ‘Twitter Accounts” not to get suckered. I hope that you didn’t.\r\nSo the big question is of course, is the U.S. economy as strong as we are being told and is the FED on its tapering course no matter what because the cost of an expanding balance sheet through QE is having minimal effect and we are in economic terms seeing a decreasing returns to scale. By that I mean, what has QE (Quantitative Easing) actually done apart from give the greed of Wall Street support. What has it done for unemployment and housing?\r\n\r\nThe ramifications of two jobs misses will be debated for the next few weeks…watch this space.\r\n\r\n&nbsp;\r\n\r\n<b><span style=\"text-decoration: underline;\">2. THE VIEW FROM MY TRADING DESK:</span></b>\r\n<p align=\"center\"><b> </b></p>\r\n<p align=\"center\"><b>DESPITE THE FACT DRAGHI DID NOTHING NEW TO HELP\r\nTHE EUROZONE PERIPHERY OR TACKLE DEFLATION THE EURO RALLIED!</b></p>\r\nAnother classic ECB press conference; I am now of the opinion, and maybe I am the last person to acknowledge this, but it’s not about what Draghi says, it’s more about what he doesn’t say.\r\n\r\nHoly mother of God, the Eurozone is suffering from DEFLATION. Eminent European economists are talking about it quite openly now. Not only does Draghi ignore DEFLATION, he’s sh** scarred to even utter the word, he uses DIS-INFLATION instead. Does he think we are nuts? It is what it is!\r\n\r\nLast Thursday just prior to Draghi pulling up his chair to the table the EURUSD was trading sub 1.3500. By the time the press conference was completed it rallied from sub 1.3500, through 1.3500 and 1.3600 towards 1.3620…wowie!!\r\n\r\nIs everything in the Eurozone just fantastic?\r\n\r\nTo be fair, some data has improved and Draghi acknowledged the positive encouraging signs in the areas of recovery and the modest pickup in consumer demand, rise in confidence and stable savings rates across the Eurozone.\r\n\r\nAs far as was concerned, or did I miss this news? Isn’t the Eurozone in a bias to ease mode? In the press conference Draghi never mentioned ‘Emerging markets” concerns, worries about inflation, basic monetary conditions or the general pathetic Eurozone economic outlook. Having examined his comments last month and compared them to this latest presentation they were pretty much the same. All I can think is that the EUR bears just looked on as Draghi ignored worries about Eurozone growth and inflation; hence the rally.\r\n\r\nI think Draghi’s very modest referral to a more positive outlook just took the EUR/USD through 1.3600.\r\n\r\nDraghi still talked about the future concerns in the Eurozone being inflation or unwarranted market tightening as being triggers for further additional monetary actions from the ECB. The bottom line I suppose was he made it clear that the ECB was in no rush to increase any stimulus and he is no closer to easing, these things alone were probably enough to send the EUR higher.\r\n\r\nThe elephant in the room at the press conference is DEFLATION. Every economist is so scared of saying that the Eurozone is in DEFLATION for fears of the Eurozone mirroring what happened in Japan.\r\n\r\nThe best quote I found during the week was from Gilles Moec, chief European economist at Deutsche Bank.\r\n<p align=\"center\"><i>“We don’t know if we’re in deflation now, but we cannot afford to take the risk. The problem is that it’s very hard to know you’re in it, and usually when you do, it’s too late. That’s what Japan found”</i></p>\r\nThe Eurozone consumer prices were 0.7% higher in January (year on year) which matched the record low from October 2013. The ECB target is just below 2%. Why the big fear?\r\n\r\nIf a lack of inflation (DEFLATION or disinflation) takes hold, it leads to a decline in the following, the general level of pricing, it undermines growth, it has an effect on and lowers corporate earnings and it effects asset values, like real estate. If economies are burdened this way as pretty much all of the Eurozone is, DEFLATION can drive a downward spiral, in which borrowers are bankrupted by their inability to repay loans on assets that have dropped in value. It’s a nightmare. This happened in Japan, where land prices fell dramatically since the early 1990’s with catastrophic consequences for banks and companies, never mind ordinary individuals.\r\n\r\nInflation basically erodes the real value of loans, making it easier for borrowers to repay, DEFLATION does the opposite. It places stress on banks. Do you think all the Eurozone banks are ready for DEFLATION? Why is yet another bank stress test on the way?\r\n\r\nWhichever way you want to view this, Greece and Cyprus have been issuing price declines, and Portugal, Spain and Ireland are not that far away from zero. Even the Eurozone power-house Germany is haunted as prices there rose just 1.2% last month (year on year).\r\n\r\nHowever, Draghi did nothing to address DEFLATION concerns. He has said in the past that the ECB would consider all the tools at its disposal to fight DEFLATION. But he has also said that there is nothing to fear. He line is “The risks of DELATION or inflation are limited at this point of time”.\r\n\r\nInteresting…\r\n\r\nHere is my list from last week’s blog on my view on the issues that the ECB still has to fix, a week on and having had a chance to do something nothing has been done: -\r\n\r\n&nbsp;\r\n<p align=\"center\"><i>UNEMPLOYMENT (in particular youth unemployment)</i></p>\r\n<p align=\"center\"><i>DEFLATION</i></p>\r\n<p align=\"center\"><i>BANK LIQUIDITY (yet another stress test is being planned)</i></p>\r\n<p align=\"center\"><i>BANKING STRENGTH (The long awaited banking union)\r\nPERIPHERY GROWTH\r\nRESTORE MARKET CONFIDENCE IN HOUSING MARKETS</i></p>\r\nI still think that a Eurozone crisis is needed to bring matters to a head.\r\n\r\nA crisis will add fuel to USD strength and drive the EUR/USD towards 1.3000 and possibly below.\r\n\r\nDraghi, with Merkel (in Berlin) pulling his strings will procrastinate and say things are in-line with expectations. The backdrop is Germany has the chequebook and does not want the invoices to fix the Eurozone as well. I totally get it.\r\n\r\nAs a trader I want a Eurozone crisis….\r\n\r\n&nbsp;\r\n\r\n<b><span style=\"text-decoration: underline;\">3. LOOKING FORWARD…THE KEY SUPPORT &amp; RESISTANCE LEVELS WITH THE USD MAJORS:</span></b>\r\n\r\n<b>EUR/USD: Closing Price 1.3634.</b>  Despite all the shenanigans during the week we ended only 40 pips lower than last week. We had a major sell off and two bullish events and we still did not break the trading range of 1.3475 to 1.3650, although we are very close to resistance. Early next week we should know if we are are we heading back towards 1.4000 or aiming lower towards 1.3000. This pair holds the key to the currency moves ahead. I really hope that these trading ranges will break soon; it is becoming a little boring. The S&amp;P needs to hold resistance at 1800. At this level I think that there is a good chance that we turn lower once again.\r\n\r\n<b>GBP/USD: Closing Price 1.6410.  </b>I have very similar comments regarding cable as I just wrote about the EUR/USD. We saw about a 60 pip reduction in the past week.  At the start of the day on NFP (Friday) I had in mind that a short at around 1.6400 in cable would be a good entry. We will have to wait into the start of next week to re-assess the position. The next stopping point upwards is 1.6500-1.6520 and support lies at 1.6250. I may well issue a FLASH trade tweet about cable short early next week. Recent economic data from the UK has been rather muted and it looks like a downside move may be on the cards once the bullishness of NFP is out of the way.\r\n\r\n<b>AUD/USD: Closing Price 0.8958</b>.  I think that we are in a bullish trend at the moment with this pair. I am viewing this move as just a better entry price to head lower once again. Equities will have a lot to say about the future moves I think. Should the S&amp;P rollover at 1800 the AUD/USD should follow. Looking at the charts I think that we may see a run to the psychological 0.9000, maybe resistance as high as 0.9200. Big support is at 0.8876 and then below at 0.8750.\r\n\r\n<b>NZD/USD: Closing Price 0.8293</b>.  Probably in sympathy will the AUD/USD this pair has held up very well in the past week. Like the GBP/USD just before NFP, I had in my mind that 0.8300 would be a great area to look to short. Once again early next week there could be a FLASH trade alert on this pair.  In addition and like the AUD/USD, equities will point us in the correct direction with regards to this pair. At the moment, I think we may test levels a little higher towards 0.8400. Support is really good at 0.8185.\r\n\r\n<b>USD/CAD: Closing Price 1.1032.</b>  I think that the CAD currency is quite weak at the moment and should we break out through 1.1125; we should see 1.1200 pretty soon. Support is good at 1.0950.\r\n\r\n<b>USD/CHF: Closing Price 0.8982</b>.  We are bouncing around in a range of 0.9850 to 0.9080. We need this range to break to give us direction. I think that it is pointless looking at this pair to trade at the moment.\r\n\r\n<b>USD/JPY: Closing Price 102.31. </b> With all the movement, we only moved down one pip in the week! We have however consolidated at a lower level and this fact should not be missed. Moving forward the range is basically what it has been all week 101.75 to 102.80.\r\n\r\n&nbsp;\r\n\r\n<b><span style=\"text-decoration: underline;\">4. THE PREMIUM SERVICE:</span></b>\r\n\r\nAs there are always new readers of this blog each week, I thought that I should mention the subscriber based option of the WEEKLY FX DRIVE-THRU that has been in existence now since the beginning of 2014; THE PREMIUM SERVICE.\r\n\r\nIt is an honest blog containing trade set-ups, profitable and losing trades, my ideas and thoughts and it also has for an instant communication to subscribers a dedicated protected TWITTER feed. All trades (profitable and losing) are monitored and recorded within the secure section of the WEEKLY FX DRIVE-THRU website.\r\n<p align=\"center\"><b><span style=\"text-decoration: underline;\">WEEKLY FX DRIVE-THRU:\r\n</span></b>(helping you to trade more consistently) <b></b>\r\n\r\n</p><p align=\"center\"><b><span style=\"text-decoration: underline;\">PREMIUM SERVICE   </span></b>\r\n\r\n</p><p align=\"center\">Are you a part-time forex trader?</p>\r\n<p align=\"center\">Are you a novice trader still coming to terms with the complexities of trading the forex market full-time?</p>\r\n<p align=\"center\">Do you feel a little overwhelmed with terminology, when to enter a trade, when to exit, what is being over-leveraged, what is effective risk / money management and what is a trading plan?</p>\r\n<p align=\"center\">The PREMIUM SERVICE may be an option worthy of serious consideration.</p>\r\n<p align=\"center\">The PREMIUM SERVICE is not a robot.</p>\r\n<p align=\"center\">The PREMIUM SERVICE it is not an automated system.</p>\r\n<p align=\"center\">The PREMIUM SERVICE is not an expensive fleecing series of daily financial updates, pages long that do not give you trading ideas or trade set-ups.</p>\r\n&nbsp;\r\n<p align=\"center\"><b><span style=\"text-decoration: underline;\">What is the PREMIUM SERVICE?</span></b></p>\r\nFirstly, the PREMIUM SERVICE is a subscriber only addition to The WEEKLY FX DRIVE-THRU. The WEEKLY FX DRIVE-THRU is a weekly blog that I started over two years ago. Its aim was to review my thoughts and ideas on the forex market. I then started to add trade set-ups and write about trades that would be on my mind if certain events took place.\r\n\r\nI started to publish my future trade set-ups, which were predominantly profitable and as I approached my 100<sup>th</sup> blog, I decided that it was time to move to the next stage…. the PREMIUM SERVICE.\r\n\r\nThe PREMIUM SERVICE contains trade-set ups of my various styles of trades that I developed into a successful formula for trading the forex market with more profitable than losing trades.\r\n\r\nAs a subscriber to the PREMIUM SERVICE, you will receive all my suggested trades whether they are: - FLASH trades, RADAR trades or FUNDAMENTAL trades via an exclusive protected Twitter feed. I give you my thoughts on entry, exit, trade size and what type of lot to trade.\r\n\r\nI do the risk assessment ahead of the trade. You decide whether you want to take the trade and what position size to take.\r\n\r\nIf you trade part-time: with the RADAR TRADE suggestions you simply load a limit order with your broker and the trade will enter and exit automatically, if you use the suggestions I provide, or you can chose your own exit strategy.\r\n\r\n(Full details and definitions of FLASH, RADAR and FUNDAMENTAL trades are inside the secure members area of the PREMIUM SERVICE)<b> </b>\r\n<p align=\"center\"><b>What are the current trading success rates with the PREMIUM SERVICE?</b></p>\r\nFrom my blogs published in December and January the following is an accurate trade by trade set up that was either “Blogged” or “Tweeted” via my twitter account @pipaccumulator (If you want more details please contact me directly via email - my address is at the foot of this document). I have my own history from the past 6 /7 years but it is displayed as below or in excel spread sheets as seen in my blog posts in the WEEKLY FX DRIVE-THRU <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a> and below.\r\n\r\n<b><span style=\"text-decoration: underline;\">December 2013 and January 2014: -</span></b>\r\n<p align=\"center\"><b><span style=\"text-decoration: underline;\">FLASH TRADES:</span></b>\r\n\r\nTOTAL TRADES: 28\r\nTOTAL PIPS NET PROFIT: 871\r\n\r\nMICRO LOT TRADERS: 1 x micro lot traded your risk = 28 x $0.10 = $2.80\r\nYour reward was 871 x $0.10 = <b><span style=\"text-decoration: underline;\">$87.10</span></b></p>\r\n<p align=\"center\">MINI LOT TRADERS: 1 x mini lot traded your risk = 28 x $1.00 = $28.00\r\nYour reward was 871 x $1.00 = <b><span style=\"text-decoration: underline;\">$871.00</span></b></p>\r\n<p align=\"center\">STANDARD LOT TRADERS: 1 x standard lot traded your risk = 28 x $10.00\r\nYour reward was 871 x $10.00 = <b><span style=\"text-decoration: underline;\">$8,710.00</span></b></p>\r\n<p align=\"center\"><b><span style=\"text-decoration: underline;\"> </span></b></p>\r\n<p align=\"center\"><b><span style=\"text-decoration: underline;\">RADAR TRADES:\r\n\r\n</span></b>TOTAL TRADES: 36\r\nTOTAL PIPS NET PROFIT: 646</p>\r\n<p align=\"center\">MICRO LOT TRADERS: 1 x micro lot traded your risk = 36 x $0.10 = $3.60\r\nYour reward was 646 x $0.10 = <b><span style=\"text-decoration: underline;\">$64.60</span></b></p>\r\n<p align=\"center\">MINI LOT TRADERS: 1 x mini lot traded your risk = 36 x $1.00 = $36.00\r\nYour reward was 646 x $1.00 = <b><span style=\"text-decoration: underline;\">$646.00</span></b></p>\r\n<p align=\"center\">STANDARD LOT TRADERS: 1 x standard lot traded your risk = 36 x $360.00\r\nYour reward was 646 x $10.00 = <b><span style=\"text-decoration: underline;\">$6,460.00</span></b></p>\r\n<p align=\"center\"></p>\r\n<p align=\"center\"><b><span style=\"text-decoration: underline;\">COMBINED RADAR &amp; FLASH TRADES:</span></b></p>\r\n<p align=\"center\"> TOTAL TRADES: 64\r\nTOTAL PIPS NET PROFIT: 1,517</p>\r\n<p align=\"center\">MICRO LOT TRADERS: 1 x micro lot traded your risk = 64 x $0.10 = $6.40\r\nYour reward was 1,517 x $0.10 = <b><span style=\"text-decoration: underline;\">$151.70</span></b></p>\r\n<p align=\"center\">MINI LOT TRADERS: 1 x mini lot traded your risk = 64 x $1.00 = $64.00\r\nYour reward was 1,517 x $1.00 = <b><span style=\"text-decoration: underline;\">$1,517.00</span></b></p>\r\n<p align=\"center\">STANDARD LOT TRADERS: 1 x standard lot traded your risk = 64 x $640.00\r\nYour reward was 1,517 x $10.00 = <b><span style=\"text-decoration: underline;\">$15,710</span></b></p>\r\nIf you go to <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a> and check back over the past 8/9 posts you can see very clearly the growth week by week to give this total.\r\n\r\nI am NOT saying that this can be expected every month because I am a cautious trader.\r\n\r\nHowever, I do trade currencies to make money.\r\n\r\nWhilst I like the idea of longer-term trading, if the market looks false to me I will cut profitable trades and bank money. I am not looking for the glory of three/four week trades to show I have nerves of steel to make +300 pips or so. If I can make 300 pips from three or four 24/48-hour trades instead, who cares? It’s all about banking profits and minimizing risk.\r\n\r\nI will have a balance of intra-day, swing and long term trades. It is your choice to pick what you want to take and what to risk. I am a low-risk very conservative trader.\r\n<p align=\"center\">FUNDAMENTALS MATTER TO ME</p>\r\n<p align=\"center\">I TRADE TO MAKE MONEY…NOT TO PICK TOPS OR BOTTOMS</p>\r\n<p align=\"center\">I TRADE LOW RISK</p>\r\n<p align=\"center\">I DO NOT CHASE MARKETS</p>\r\n<p align=\"center\">I LIKE THE TRADES TO COME TO ME</p>\r\n<p align=\"center\">I AM NOT A GREEDY TRADER</p>\r\n<p align=\"center\">I LIKE TO TRADE MOMENTUMS IN THE DIRECTION OF TRENDS</p>\r\n<p align=\"center\">I USE FIBONACCI LEVELS TO ENTER &amp; EXIT ON MANY TRADES</p>\r\n<p align=\"center\">PLUS</p>\r\n<p align=\"center\">MY TRADING STYLE IS MIXED EVEN WITH THE ABOVE KEY BASICS</p>\r\n<p align=\"center\">I USE THE PULLBACK STRATEGY TO ENTER AND I LIKE SWING AND LONGER-TERM TRADES (WHEN POSSIBLE)</p>\r\n&nbsp;\r\n\r\nThe members area of the website contains not just the comprehensive trading history / journal of trades but it also contains as much support information as I can gather that is of use to help us all trade profitably. As time moves on, the support pages areas will increase so that it becomes a one-stop point of reference for all styles and types of traders regardless of experience.\r\n\r\nI am hoping to have a chat room so that subscribers and myself can chat live about potential live trades. In addition, if the number of participants is economically viable, I will hold webinars on trading issues. Below is a list of questions so far that will either be addressed by webinar or by a future section within a blog post.\r\n<p align=\"center\"><b>Trade Plans and how to work with them\r\nHow to find a good broker to partner with</b>\r\n<b>What trades for what broker\r\nMicro, Mini or Standard lots\r\nPlacing Stops</b>\r\n<b>Strategies on when to enter and exit trades</b>\r\n<b>Risk Assessment</b>\r\n<b>When to fade trades</b>\r\n<b>How to cost average effectively</b>\r\n<b>How to use Trade Zones effectively - Buy Zones and Sell zones</b>\r\n<b>Working with Fibonacci levels</b>\r\n<b>Basic Chart analysis</b></p>\r\nThe PREMIUM SERVICE will evolve as it moves forward. I have lots of ideas to integrate into this area, but I am also open to ideas from readers / followers and subscribers.\r\n\r\nThis is a very important step for me as well; I want the PREMIUM SERVICE to be different to other services currently available.\r\n\r\nWhilst upon first look, it may appear that the Premium Service is directed solely at new traders, or those with intermediate skill levels. Please note this is not my intention. Trading can be lonely, and sometimes it is good to feel that you are part of a team. With this in mind, I am thinking that a “Chat Room” style area would be of benefit to all traders to share ideas and trade set-ups. Plus, whether you are a new trader or an experienced trader it is always good to have a library of information available close at hand.\r\n\r\nWhat are the costs?\r\n\r\nThere will be 40 weekly blogs / issues per year. I will not write in the summer and over Christmas periods. There will be an unlimited amount of Twitter follow-ups to the exclusive subscribers on a Twitter secure feed during the week to review and act upon “FLASH, RADAR and FUNDAMENTAL trades” and issues emanating from previous blogs.\r\n<p align=\"center\"><b>There are three subscription options: </b></p>\r\n<p align=\"center\"><b>ANNUAL (40 WEEK) SUBSCRIPTION: $750.00 (this equates to $18.75 per week) </b></p>\r\n<p align=\"center\"><b>20 WEEKS SUBSCRIPTION: $450.00 (this equates to $22.50 per week)  </b></p>\r\n<p align=\"center\"><b>10 WEEKS SUBSCRIPTION: $250.00 (this equates to $25.00 per week) </b></p>\r\n<p align=\"center\"><b>(All Fees are quoted in USD\r\nand\r\nPlease note: There are no refunds once a subscription is accepted)</b></p>\r\nIf you like what you have just read. Please click on the “SIGN -UP” link at the top of the welcome page of the WEEKLY FX DRIVE-THRU.\r\n\r\nThe registration is very straightforward to follow all you require is a PayPal account.\r\n\r\nWhen the registration process is complete and, within 24 hours, you will receive an email from me confirming everything and welcoming you onboard so to speak.\r\n\r\nShould you have any queries or encounter problems whilst trying to subscribe please contact me on the following email: -\r\n<p align=\"center\"><b><span style=\"text-decoration: underline;\">premiumservice@weeklyfxdrivethru.com</span></b></p>\r\nI do hope that if you look through the history of my blog posts on the WEEKLY FX DRIVE-THRU you will see that I do have a relevance to the forex market and that joining the PREMIUM SERVICE would add value to your trading.\r\n\r\n<b><span style=\"text-decoration: underline;\"> </span></b>\r\n\r\n<b><span style=\"text-decoration: underline;\">5. MAJOR FOREX NEWS THIS WEEK THAT INTERESTS ME:</span></b>\r\n\r\nSUNDAY: N/A\r\n\r\nMONDAY: N/A.\r\n\r\nTUESDAY: USD – Janet Yellen testifies\r\n\r\nWEDNESDAY: GBP – BOE Carney speaks &amp; BOE Inflation Report\r\nWEDNESDAY: EUR – Draghi speaks.\r\nWEDNESDAY: AUD – Unemployment Rate.\r\n\r\nTHURSDAY: USD – Core Retail Sales &amp; Retail Sales and Janet Yellen testifies.\r\nTHURSDAY: CNY - CPi\r\n\r\nFRIDAY: CAD – Manufacturing Sales.\r\n\r\n&nbsp;\r\n\r\n<b><span style=\"text-decoration: underline;\">6. FINAL THOUGHTS:</span></b>\r\n\r\nI am expecting consolidation early next week. So, with that in mind, always, always remember that there is a market everyday. You do not need to trade everyday to make your financial goals.\r\n\r\nGood luck and trade within your TRADE PLAN guidelines and most importantly use MONEY MANGEMENT SKILLS to control your risks.\r\n\r\nScott Pickering\r\nThe Pip Accumulator\r\nSaturday February 8th 2014\r\n\r\nEMAIL / FOLLOW ME AT:\r\ndrivethru@weeklyfxdrivethru.com\r\nTwitter: @pipaccumulator\r\n<span style=\"line-height: 1.5em;\">Google+/scottpickering\r\n</span><span style=\"line-height: 1.5em;\">StockTwits; thepipaccumulator</span>\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&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&nbsp;\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n&nbsp;','DESPITE THE FACT DRAGHI DID NOTHING NEW TO HELP  THE EUROZONE PERIPHERY OR TACKLE DEFLATION THE EURO RALLIED!','','inherit','open','closed','','3198-revision-v1','','','2014-02-08 10:59:19','2014-02-08 15:59:19','',3198,'https://weeklyfxdrivethru.com/3198-revision-v1/',0,'revision','',0),(3200,1,'2014-02-08 11:01:39','2014-02-08 16:01:39','WEEKLY FX DRIVE-THRU\r\n08.02.2014\r\n\r\n<b><span style=\"text-decoration: underline;\">1. INTRODUCTION:</span></b>\r\n\r\nWell, that was a very difficult week to understand at times.\r\n\r\nThe three major news events in the week that interested me had me a little confused and perplexed:\r\n\r\n<span style=\"text-decoration: underline;\">RBA Interest Rate Announcement and Statement:</span>\r\n\r\nInterest rates were left unchanged, this was strongly believed to be what would happen so there were no surprises but I found the policy statement a little confusing.\r\nFor the past few months RBA Governor Stevens had been talking down AUD strength and even went so far as to say that an exchange rate level of about 0.8500 would be a reasonable level as far as the Central Bank was concerned.\r\nNow we witness an about turn, we are all bullish again, and things were maybe not so bad as we had been saying for the past few months. The comment in the press release regarding currency guidance has now been removed.\r\nThe result on this RBA “Hallelujah moment” (positive view) was that the AUD/USD rallied from near critical support levels of 0.8660 back towards 0.8900.\r\nThis move offers up the potential for some great entries short again in the near future if the equities markets sell off.\r\nThe downside of this change in RBA sentiment from a personal viewpoint were that my FUNDAMENTAL AUD and NZD (in sympathy) cross-rate trades, were whacked across the board, and I decided to exit with losses.\r\n\r\n<span style=\"text-decoration: underline;\">ECB Interest Rate and Press Conference:</span>\r\n\r\nOnce again I found the market reaction to Draghi’s comments a little strange to say the least. I am commenting later in the blog about this particular news event.\r\n\r\n<span style=\"text-decoration: underline;\">U.S. Non-Farm Payrolls:</span>\r\n\r\nAnother big miss, that’s two months in a row. As usual with NFP there is an instant ‘Knee-jerk” reaction probably in line with your thinking……then it turns and runs off in the opposite direction. It did exactly this once again, futures took a poor number on the chin and then they rallied back hard to end the day 23.59 points (1.33%) positive.\r\nIf you get suckered into move it can be very costly. I tweeted several times across both ‘Twitter Accounts” not to get suckered. I hope that you didn’t.\r\nSo the big question is of course, is the U.S. economy as strong as we are being told and is the FED on its tapering course no matter what because the cost of an expanding balance sheet through QE is having minimal effect and we are in economic terms seeing a decreasing returns to scale. By that I mean, what has QE (Quantitative Easing) actually done apart from give the greed of Wall Street support. What has it done for unemployment and housing?\r\n\r\nThe ramifications of two jobs misses will be debated for the next few weeks…watch this space.\r\n\r\n&nbsp;\r\n\r\n<b><span style=\"text-decoration: underline;\">2. THE VIEW FROM MY TRADING DESK:</span></b>\r\n<p align=\"center\"><b> </b></p>\r\n<p align=\"center\"><b>DESPITE THE FACT DRAGHI DID NOTHING NEW TO HELP\r\nTHE EUROZONE PERIPHERY OR TACKLE DEFLATION THE EURO RALLIED!</b></p>\r\nAnother classic ECB press conference; I am now of the opinion, and maybe I am the last person to acknowledge this, but it’s not about what Draghi says, it’s more about what he doesn’t say.\r\n\r\nHoly mother of God, the Eurozone is suffering from DEFLATION. Eminent European economists are talking about it quite openly now. Not only does Draghi ignore DEFLATION, he’s sh** scarred to even utter the word, he uses DIS-INFLATION instead. Does he think we are nuts? It is what it is!\r\n\r\nLast Thursday just prior to Draghi pulling up his chair to the table the EUR/USD was trading sub 1.3500. By the time the press conference was completed it rallied from sub 1.3500, through 1.3500 and 1.3600 towards 1.3620…wowie!!\r\n\r\nIs everything in the Eurozone just fantastic?\r\n\r\nTo be fair, some data has improved and Draghi acknowledged the positive encouraging signs in the areas of recovery and the modest pickup in consumer demand, rise in confidence and stable savings rates across the Eurozone.\r\n\r\nAs far as was concerned, or did I miss this news? Isn’t the Eurozone in a bias to ease mode? In the press conference Draghi never mentioned ‘Emerging markets” concerns, worries about inflation, basic monetary conditions or the general pathetic Eurozone economic outlook. Having examined his comments last month and compared them to this latest presentation they were pretty much the same. All I can think is that the EUR bears just looked on as Draghi ignored worries about Eurozone growth and inflation; hence the rally.\r\n\r\nI think Draghi’s very modest referral to a more positive outlook just took the EUR/USD through 1.3600.\r\n\r\nDraghi still talked about the future concerns in the Eurozone being inflation or unwarranted market tightening as being triggers for further additional monetary actions from the ECB. The bottom line I suppose was he made it clear that the ECB was in no rush to increase any stimulus and he is no closer to easing, these things alone were probably enough to send the EUR higher.\r\n\r\nThe elephant in the room at the press conference is DEFLATION. Every economist is so scared of saying that the Eurozone is in DEFLATION for fears of the Eurozone mirroring what happened in Japan.\r\n\r\nThe best quote I found during the week was from Gilles Moec, chief European economist at Deutsche Bank.\r\n<p align=\"center\"><i>“We don’t know if we’re in deflation now, but we cannot afford to take the risk. The problem is that it’s very hard to know you’re in it, and usually when you do, it’s too late. That’s what Japan found”</i></p>\r\nThe Eurozone consumer prices were 0.7% higher in January (year on year) which matched the record low from October 2013. The ECB target is just below 2%. Why the big fear?\r\n\r\nIf a lack of inflation (DEFLATION or disinflation) takes hold, it leads to a decline in the following, the general level of pricing, it undermines growth, it has an effect on and lowers corporate earnings and it affects asset values, like real estate. If economies are burdened this way as pretty much all of the Eurozone is, DEFLATION can drive a downward spiral, in which borrowers are bankrupted by their inability to repay loans on assets that have dropped in value. It’s a nightmare. This happened in Japan, where land prices fell dramatically since the early 1990’s with catastrophic consequences for banks and companies, never mind ordinary individuals.\r\n\r\nInflation basically erodes the real value of loans, making it easier for borrowers to repay, DEFLATION does the opposite. It places stress on banks. Do you think all the Eurozone banks are ready for DEFLATION? Why is yet another bank stress test on the way?\r\n\r\nWhichever way you want to view this, Greece and Cyprus have been issuing price declines, and Portugal, Spain and Ireland are not that far away from zero. Even the Eurozone power-house Germany is haunted as prices there rose just 1.2% last month (year on year).\r\n\r\nHowever, Draghi did nothing to address DEFLATION concerns. He has said in the past that the ECB would consider all the tools at its disposal to fight DEFLATION. But he has also said that there is nothing to fear. He line is “The risks of DELATION or inflation are limited at this point of time”.\r\n\r\nInteresting…\r\n\r\nHere is my list from last week’s blog on my view on the issues that the ECB still has to fix, a week on and having had a chance to do something nothing has been done: -\r\n\r\n&nbsp;\r\n<p align=\"center\"><i>UNEMPLOYMENT (in particular youth unemployment)</i></p>\r\n<p align=\"center\"><i>DEFLATION</i></p>\r\n<p align=\"center\"><i>BANK LIQUIDITY (yet another stress test is being planned)</i></p>\r\n<p align=\"center\"><i>BANKING STRENGTH (The long awaited banking union)\r\nPERIPHERY GROWTH\r\nRESTORE MARKET CONFIDENCE IN HOUSING MARKETS</i></p>\r\nI still think that a Eurozone crisis is needed to bring matters to a head.\r\n\r\nA crisis will add fuel to USD strength and drive the EUR/USD towards 1.3000 and possibly below.\r\n\r\nDraghi, with Merkel (in Berlin) pulling his strings will procrastinate and say things are in-line with expectations. The backdrop is Germany has the chequebook and does not want the invoices to fix the Eurozone as well. I totally get it.\r\n\r\nAs a trader I want a Eurozone crisis….\r\n\r\n&nbsp;\r\n\r\n<b><span style=\"text-decoration: underline;\">3. LOOKING FORWARD…THE KEY SUPPORT &amp; RESISTANCE LEVELS WITH THE USD MAJORS:</span></b>\r\n\r\n<b>EUR/USD: Closing Price 1.3634.</b>  Despite all the shenanigans during the week we ended only 40 pips lower than last week. We had a major sell off and two bullish events and we still did not break the trading range of 1.3475 to 1.3650, although we are very close to resistance. Early next week we should know if we are are we heading back towards 1.4000 or aiming lower towards 1.3000. This pair holds the key to the currency moves ahead. I really hope that these trading ranges will break soon; it is becoming a little boring. The S&amp;P needs to hold resistance at 1800. At this level I think that there is a good chance that we turn lower once again.\r\n\r\n<b>GBP/USD: Closing Price 1.6410.  </b>I have very similar comments regarding cable as I just wrote about the EUR/USD. We saw about a 60 pip reduction in the past week.  At the start of the day on NFP (Friday) I had in mind that a short at around 1.6400 in cable would be a good entry. We will have to wait into the start of next week to re-assess the position. The next stopping point upwards is 1.6500-1.6520 and support lies at 1.6250. I may well issue a FLASH trade tweet about cable short early next week. Recent economic data from the UK has been rather muted and it looks like a downside move may be on the cards once the bullishness of NFP is out of the way.\r\n\r\n<b>AUD/USD: Closing Price 0.8958</b>.  I think that we are in a bullish trend at the moment with this pair. I am viewing this move as just a better entry price to head lower once again. Equities will have a lot to say about the future moves I think. Should the S&amp;P rollover at 1800 the AUD/USD should follow. Looking at the charts I think that we may see a run to the psychological 0.9000, maybe resistance as high as 0.9200. Big support is at 0.8876 and then below at 0.8750.\r\n\r\n<b>NZD/USD: Closing Price 0.8293</b>.  Probably in sympathy will the AUD/USD this pair has held up very well in the past week. Like the GBP/USD just before NFP, I had in my mind that 0.8300 would be a great area to look to short. Once again early next week there could be a FLASH trade alert on this pair.  In addition and like the AUD/USD, equities will point us in the correct direction with regards to this pair. At the moment, I think we may test levels a little higher towards 0.8400. Support is really good at 0.8185.\r\n\r\n<b>USD/CAD: Closing Price 1.1032.</b>  I think that the CAD currency is quite weak at the moment and should we break out through 1.1125; we should see 1.1200 pretty soon. Support is good at 1.0950.\r\n\r\n<b>USD/CHF: Closing Price 0.8982</b>.  We are bouncing around in a range of 0.9850 to 0.9080. We need this range to break to give us direction. I think that it is pointless looking at this pair to trade at the moment.\r\n\r\n<b>USD/JPY: Closing Price 102.31. </b> With all the movement, we only moved down one pip in the week! We have however consolidated at a lower level and this fact should not be missed. Moving forward the range is basically what it has been all week 101.75 to 102.80.\r\n\r\n&nbsp;\r\n\r\n<b><span style=\"text-decoration: underline;\">4. THE PREMIUM SERVICE:</span></b>\r\n\r\nAs there are always new readers of this blog each week, I thought that I should mention the subscriber based option of the WEEKLY FX DRIVE-THRU that has been in existence now since the beginning of 2014; THE PREMIUM SERVICE.\r\n\r\nIt is an honest blog containing trade set-ups, profitable and losing trades, my ideas and thoughts and it also has for an instant communication to subscribers a dedicated protected TWITTER feed. All trades (profitable and losing) are monitored and recorded within the secure section of the WEEKLY FX DRIVE-THRU website.\r\n<p align=\"center\"><b><span style=\"text-decoration: underline;\">WEEKLY FX DRIVE-THRU:\r\n</span></b>(helping you to trade more consistently) <b></b>\r\n\r\n</p><p align=\"center\"><b><span style=\"text-decoration: underline;\">PREMIUM SERVICE   </span></b>\r\n\r\n</p><p align=\"center\">Are you a part-time forex trader?</p>\r\n<p align=\"center\">Are you a novice trader still coming to terms with the complexities of trading the forex market full-time?</p>\r\n<p align=\"center\">Do you feel a little overwhelmed with terminology, when to enter a trade, when to exit, what is being over-leveraged, what is effective risk / money management and what is a trading plan?</p>\r\n<p align=\"center\">The PREMIUM SERVICE may be an option worthy of serious consideration.</p>\r\n<p align=\"center\">The PREMIUM SERVICE is not a robot.</p>\r\n<p align=\"center\">The PREMIUM SERVICE it is not an automated system.</p>\r\n<p align=\"center\">The PREMIUM SERVICE is not an expensive fleecing series of daily financial updates, pages long that do not give you trading ideas or trade set-ups.</p>\r\n&nbsp;\r\n<p align=\"center\"><b><span style=\"text-decoration: underline;\">What is the PREMIUM SERVICE?</span></b></p>\r\nFirstly, the PREMIUM SERVICE is a subscriber only addition to The WEEKLY FX DRIVE-THRU. The WEEKLY FX DRIVE-THRU is a weekly blog that I started over two years ago. Its aim was to review my thoughts and ideas on the forex market. I then started to add trade set-ups and write about trades that would be on my mind if certain events took place.\r\n\r\nI started to publish my future trade set-ups, which were predominantly profitable and as I approached my 100<sup>th</sup> blog, I decided that it was time to move to the next stage…. the PREMIUM SERVICE.\r\n\r\nThe PREMIUM SERVICE contains trade-set ups of my various styles of trades that I developed into a successful formula for trading the forex market with more profitable than losing trades.\r\n\r\nAs a subscriber to the PREMIUM SERVICE, you will receive all my suggested trades whether they are: - FLASH trades, RADAR trades or FUNDAMENTAL trades via an exclusive protected Twitter feed. I give you my thoughts on entry, exit, trade size and what type of lot to trade.\r\n\r\nI do the risk assessment ahead of the trade. You decide whether you want to take the trade and what position size to take.\r\n\r\nIf you trade part-time: with the RADAR TRADE suggestions you simply load a limit order with your broker and the trade will enter and exit automatically, if you use the suggestions I provide, or you can chose your own exit strategy.\r\n\r\n(Full details and definitions of FLASH, RADAR and FUNDAMENTAL trades are inside the secure members area of the PREMIUM SERVICE)<b> </b>\r\n<p align=\"center\"><b>What are the current trading success rates with the PREMIUM SERVICE?</b></p>\r\nFrom my blogs published in December and January the following is an accurate trade by trade set up that was either “Blogged” or “Tweeted” via my twitter account @pipaccumulator (If you want more details please contact me directly via email - my address is at the foot of this document). I have my own history from the past 6 /7 years but it is displayed as below or in excel spread sheets as seen in my blog posts in the WEEKLY FX DRIVE-THRU <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a> and below.\r\n\r\n<b><span style=\"text-decoration: underline;\">December 2013 and January 2014: -</span></b>\r\n<p align=\"center\"><b><span style=\"text-decoration: underline;\">FLASH TRADES:</span></b></p>\r\n<p style=\"text-align: center;\">TOTAL TRADES: 28\r\nTOTAL PIPS NET PROFIT: 871</p>\r\n<p style=\"text-align: center;\">MICRO LOT TRADERS: 1 x micro lot traded your risk = 28 x $0.10 = $2.80\r\nYour reward was 871 x $0.10 = <b><span style=\"text-decoration: underline;\">$87.10</span></b></p>\r\n<p align=\"center\">MINI LOT TRADERS: 1 x mini lot traded your risk = 28 x $1.00 = $28.00\r\nYour reward was 871 x $1.00 = <b><span style=\"text-decoration: underline;\">$871.00</span></b></p>\r\n<p align=\"center\">STANDARD LOT TRADERS: 1 x standard lot traded your risk = 28 x $10.00\r\nYour reward was 871 x $10.00 = <b><span style=\"text-decoration: underline;\">$8,710.00</span></b></p>\r\n<p align=\"center\"></p>\r\n<p align=\"center\"><b><span style=\"text-decoration: underline;\">RADAR TRADES:</span></b></p>\r\n<p style=\"text-align: center;\">TOTAL TRADES: 36\r\nTOTAL PIPS NET PROFIT: 646</p>\r\n<p align=\"center\">MICRO LOT TRADERS: 1 x micro lot traded your risk = 36 x $0.10 = $3.60\r\nYour reward was 646 x $0.10 = <b><span style=\"text-decoration: underline;\">$64.60</span></b></p>\r\n<p align=\"center\">MINI LOT TRADERS: 1 x mini lot traded your risk = 36 x $1.00 = $36.00\r\nYour reward was 646 x $1.00 = <b><span style=\"text-decoration: underline;\">$646.00</span></b></p>\r\n<p align=\"center\">STANDARD LOT TRADERS: 1 x standard lot traded your risk = 36 x $360.00\r\nYour reward was 646 x $10.00 = <b><span style=\"text-decoration: underline;\">$6,460.00\r\n\r\n\r\n</span></b><b><span style=\"text-decoration: underline;\">COMBINED RADAR &amp; FLASH TRADES:</span></b></p>\r\n<p align=\"center\"> TOTAL TRADES: 64\r\nTOTAL PIPS NET PROFIT: 1,517</p>\r\n<p align=\"center\">MICRO LOT TRADERS: 1 x micro lot traded your risk = 64 x $0.10 = $6.40\r\nYour reward was 1,517 x $0.10 = <b><span style=\"text-decoration: underline;\">$151.70</span></b></p>\r\n<p align=\"center\">MINI LOT TRADERS: 1 x mini lot traded your risk = 64 x $1.00 = $64.00\r\nYour reward was 1,517 x $1.00 = <b><span style=\"text-decoration: underline;\">$1,517.00</span></b></p>\r\n<p align=\"center\">STANDARD LOT TRADERS: 1 x standard lot traded your risk = 64 x $640.00\r\nYour reward was 1,517 x $10.00 = <b><span style=\"text-decoration: underline;\">$15,710</span></b></p>\r\nIf you go to <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a> and check back over the past 8/9 posts you can see very clearly the growth week by week to give this total.\r\n\r\nI am NOT saying that this can be expected every month because I am a cautious trader.\r\n\r\nHowever, I do trade currencies to make money.\r\n\r\nWhilst I like the idea of longer-term trading, if the market looks false to me I will cut profitable trades and bank money. I am not looking for the glory of three/four week trades to show I have nerves of steel to make +300 pips or so. If I can make 300 pips from three or four 24/48-hour trades instead, who cares? It’s all about banking profits and minimizing risk.\r\n\r\nI will have a balance of intra-day, swing and long term trades. It is your choice to pick what you want to take and what to risk. I am a low-risk very conservative trader.\r\n<p align=\"center\">FUNDAMENTALS MATTER TO ME</p>\r\n<p align=\"center\">I TRADE TO MAKE MONEY…NOT TO PICK TOPS OR BOTTOMS</p>\r\n<p align=\"center\">I TRADE LOW RISK</p>\r\n<p align=\"center\">I DO NOT CHASE MARKETS</p>\r\n<p align=\"center\">I LIKE THE TRADES TO COME TO ME</p>\r\n<p align=\"center\">I AM NOT A GREEDY TRADER</p>\r\n<p align=\"center\">I LIKE TO TRADE MOMENTUMS IN THE DIRECTION OF TRENDS</p>\r\n<p align=\"center\">I USE FIBONACCI LEVELS TO ENTER &amp; EXIT ON MANY TRADES</p>\r\n<p align=\"center\">PLUS</p>\r\n<p align=\"center\">MY TRADING STYLE IS MIXED EVEN WITH THE ABOVE KEY BASICS</p>\r\n<p align=\"center\">I USE THE PULLBACK STRATEGY TO ENTER AND I LIKE SWING AND LONGER-TERM TRADES (WHEN POSSIBLE)</p>\r\n&nbsp;\r\n\r\nThe members area of the website contains not just the comprehensive trading history / journal of trades but it also contains as much support information as I can gather that is of use to help us all trade profitably. As time moves on, the support pages areas will increase so that it becomes a one-stop point of reference for all styles and types of traders regardless of experience.\r\n\r\nI am hoping to have a chat room so that subscribers and myself can chat live about potential live trades. In addition, if the number of participants is economically viable, I will hold webinars on trading issues. Below is a list of questions so far that will either be addressed by webinar or by a future section within a blog post.\r\n<p align=\"center\"><b>Trade Plans and how to work with them\r\nHow to find a good broker to partner with</b>\r\n<b>What trades for what broker\r\nMicro, Mini or Standard lots\r\nPlacing Stops</b>\r\n<b>Strategies on when to enter and exit trades</b>\r\n<b>Risk Assessment</b>\r\n<b>When to fade trades</b>\r\n<b>How to cost average effectively</b>\r\n<b>How to use Trade Zones effectively - Buy Zones and Sell zones</b>\r\n<b>Working with Fibonacci levels</b>\r\n<b>Basic Chart analysis</b></p>\r\nThe PREMIUM SERVICE will evolve as it moves forward. I have lots of ideas to integrate into this area, but I am also open to ideas from readers / followers and subscribers.\r\n\r\nThis is a very important step for me as well; I want the PREMIUM SERVICE to be different to other services currently available.\r\n\r\nWhilst upon first look, it may appear that the Premium Service is directed solely at new traders, or those with intermediate skill levels. Please note this is not my intention. Trading can be lonely, and sometimes it is good to feel that you are part of a team. With this in mind, I am thinking that a “Chat Room” style area would be of benefit to all traders to share ideas and trade set-ups. Plus, whether you are a new trader or an experienced trader it is always good to have a library of information available close at hand.\r\n\r\nWhat are the costs?\r\n\r\nThere will be 40 weekly blogs / issues per year. I will not write in the summer and over Christmas periods. There will be an unlimited amount of Twitter follow-ups to the exclusive subscribers on a Twitter secure feed during the week to review and act upon “FLASH, RADAR and FUNDAMENTAL trades” and issues emanating from previous blogs.\r\n<p align=\"center\"><b>There are three subscription options: </b></p>\r\n<p align=\"center\"><b>ANNUAL (40 WEEK) SUBSCRIPTION: $750.00 (this equates to $18.75 per week) </b></p>\r\n<p align=\"center\"><b>20 WEEKS SUBSCRIPTION: $450.00 (this equates to $22.50 per week)  </b></p>\r\n<p align=\"center\"><b>10 WEEKS SUBSCRIPTION: $250.00 (this equates to $25.00 per week) </b></p>\r\n<p align=\"center\"><b>(All Fees are quoted in USD\r\nand\r\nPlease note: There are no refunds once a subscription is accepted)</b></p>\r\nIf you like what you have just read. Please click on the “SIGN -UP” link at the top of the welcome page of the WEEKLY FX DRIVE-THRU.\r\n\r\nThe registration is very straightforward to follow all you require is a PayPal account.\r\n\r\nWhen the registration process is complete and, within 24 hours, you will receive an email from me confirming everything and welcoming you onboard so to speak.\r\n\r\nShould you have any queries or encounter problems whilst trying to subscribe please contact me on the following email: -\r\n<p align=\"center\"><b><span style=\"text-decoration: underline;\">premiumservice@weeklyfxdrivethru.com</span></b></p>\r\nI do hope that if you look through the history of my blog posts on the WEEKLY FX DRIVE-THRU you will see that I do have a relevance to the forex market and that joining the PREMIUM SERVICE would add value to your trading.\r\n\r\n<b><span style=\"text-decoration: underline;\"> </span></b>\r\n\r\n<b><span style=\"text-decoration: underline;\">5. MAJOR FOREX NEWS THIS WEEK THAT INTERESTS ME:</span></b>\r\n\r\nSUNDAY: N/A\r\n\r\nMONDAY: N/A.\r\n\r\nTUESDAY: USD – Janet Yellen testifies\r\n\r\nWEDNESDAY: GBP – BOE Carney speaks &amp; BOE Inflation Report\r\nWEDNESDAY: EUR – Draghi speaks.\r\nWEDNESDAY: AUD – Unemployment Rate.\r\n\r\nTHURSDAY: USD – Core Retail Sales &amp; Retail Sales and Janet Yellen testifies.\r\nTHURSDAY: CNY - CPi\r\n\r\nFRIDAY: CAD – Manufacturing Sales.\r\n\r\n&nbsp;\r\n\r\n<b><span style=\"text-decoration: underline;\">6. FINAL THOUGHTS:</span></b>\r\n\r\nI am expecting consolidation early next week. So, with that in mind, always, always remember that there is a market everyday. You do not need to trade everyday to make your financial goals.\r\n\r\nGood luck and trade within your TRADE PLAN guidelines and most importantly use MONEY MANAGEMENT SKILLS to control your risks.\r\n\r\nScott Pickering\r\nThe Pip Accumulator\r\nSaturday February 8th 2014\r\n\r\nEMAIL / FOLLOW ME AT:\r\ndrivethru@weeklyfxdrivethru.com\r\nTwitter: @pipaccumulator\r\n<span style=\"line-height: 1.5em;\">Google+/scottpickering\r\n</span><span style=\"line-height: 1.5em;\">StockTwits; thepipaccumulator</span>\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&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&nbsp;\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n&nbsp;','DESPITE THE FACT DRAGHI DID NOTHING NEW TO HELP  THE EUROZONE PERIPHERY OR TACKLE DEFLATION THE EURO RALLIED!','','inherit','open','closed','','3198-revision-v1','','','2014-02-08 11:01:39','2014-02-08 16:01:39','',3198,'https://weeklyfxdrivethru.com/3198-revision-v1/',0,'revision','',0),