<h3 style="text-align: center;"><strong>THE PREMIUM SERVICE
</strong><strong>(The Home of Single-Lot $$$$ Trading)</strong></h3>
<strong>DATE: 08.03.2015
REFERENCE: #50
</strong><strong>BLOG: THE PREMIUM SERVICE</strong>

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<ol>
	<li><strong><span style="text-decoration: underline;"> INTRODUCTION / LOOKING BACK OVER THE PAST WEEK:</span></strong></li>
</ol>
The title of my main article for the blog last week was:

<strong>DON’T BE CRAZY AND IGNORE USD STRENGTH…
</strong><strong>THE USD RALLY GOES ON</strong>

Well, quite a good title... as the DXY roadshow rolled onwards and upwards once again.

After NFP we hit just below 98.00. The big 100.00 is next. As with all things that relate to the markets the big round numbers may beckon and it may appear from longer-term charts that there is a Star Trek “tractor beam” sucking the currency pair or whatever towards the objective, but as soon as you go into smaller minute charts you can see the conflict between buyers and sellers as the big number and stop loss runs approach. Will the DXY 100.00 be the same? I have no reason to doubt that it will not. If you look at the chart below, you can see that the move higher, has been swift followed by consolidation, then a swift move again, followed by another period of consolidation.

In my opinion, I think we will get close, then consolidate, and then, make one or two runs before passing by 100.00. Lets face facts the USD is well overbought and we need to see maybe a small pullback / consolidation before moving higher.

<a href="https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/DXY-08032015.png"><img class="aligncenter size-large wp-image-5427" src="https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/DXY-08032015-1024x445.png" alt="DXY 08032015" width="1024" height="445" /></a>

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100.00 on the DXY, in my eyes, places the EUR/USD below 1.0750, possibly closer to 1.0650. It is only horizontal support, but it was a level previously (see the chart below).

<a href="https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/EURUSD-MONTHLY-08032015.png"><img class="aligncenter size-large wp-image-5437" src="https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/EURUSD-MONTHLY-08032015-1024x517.png" alt="EURUSD MONTHLY 08032015" width="1024" height="517" /></a>

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In last week’s blog I also posted a suggestion of pairs to trade simply based upon Central Bank divergences. Had you blindly just taken these trades at the open on last Sunday through to last week’s close on Friday night the trading result is below: -

<a href="https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/CENTRAL-BANK-DIVERGENCES-08032015.png"><img class="aligncenter size-full wp-image-5428" src="https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/CENTRAL-BANK-DIVERGENCES-08032015.png" alt="CENTRAL BANK DIVERGENCES 08032015" width="415" height="323" /></a>

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The chart above is what makes Forex trading so rewarding / frustrating / annoying / satisfying etc… see below.

FUNDAMENTALLY, following recent Central Bank policy confirmation or changes in monetary policy these trades should have all worked. One can argue placing a commodity cross-rate pair in the original list was a little contentious, but it still should have worked given the differences in Central Bank policies between the BOE and RBA.

However, Forex Trading also allows for oddball moments. The Cable (GBP) is also in a period of uncertainty with elections on the horizon and with its proximity to the EUROZONE (its major trading partner), we saw it drop in sympathy when the single currency came under pressure with relentless selling. Plus, we have to consider the EUR/GBP, the “richest” currency pair to trade from a $$$ perspective. The EUR/GBP is like the EUR/JPY both of these pairs are more of a major currency than the USD/CAD or NZD/USD looking from a volume / liquidity perspective. The cross-rate effects of the EUR/GBP would also weigh on the GBP in general. This would override movements in the GBP/AUD and basically due to the fact that it is a lower liquidity pair it just did its own thing. This pair is usually more associated with a “RISK OFF “ and therefore one would have expected a sell-off after NFP, given that the AUD/USD sold off… it didn’t happen. I think it just fell into the general selling of cable across the board.

With regards to the table and the “PIP” opportunities: -

The PREMIUM SERVICE went to town on the USD/CHF there is a core position still in play with over 220 pips profit available. This is after having taken lots of pips and banking $$$ through multiple trades along the way for basically the last two weeks or so.

Some $$$ was also taken from the EUR/USD, but I was pre-occupied believing a bounce was soon to happen given the oversold conditions so for the most times I stayed away. The AUD/USD featured only a couple of times over the past week. With reference to the GBP/AUD the PREMIUM SERVICE is still long with a hedged position in place to minimalize RISK.

Moving on…

Over the past week we saw the RBA keep interest rates on hold (buggers!), I was looking for them to cut (buggers!).

The BOC also kept rates on hold and the CAD strengthened like crazy (buggers!).

The ECB press conference saw Mario Draghi announce that from tomorrow March 9<sup>th</sup> 2015, the ECB would start its QE bond-buying program. The comments from Draghi confirmed that it would be an open-ended program if required and that the ECB would purchase negative interest rate bonds as well. These two pieces of news sent the EUR/USD below 1.1000.

On Friday, we had Non Farm Payrolls from the U.S. – yet another batch of great numbers. The equity markets sold off on the release as the noises to raise interest rates in the U.S. before the summer this year increased in volume.

In my opinion, the Central Bank divergence trade (talked about above) is even more obvious to me. If you are not yet long the USD, it is best to wait a while for a pullback in the DXY. Let it consolidate first to allow you to buy at better prices. Patience is what is required and I think that we need to test recent breakout levels in the DXY to get great entry trades to go long the USD.

I haven’t mentioned GREECE yet. I think that the four-month loan extension took GREECE off the front page for a few days, however…. There is a EUROGROUP meeting with GREEK officials tomorrow (Monday 9<sup>th</sup> March), and, apparently, Tsipras asked to meet Junker privately ahead of the meeting. Junker allegedly refused the meeting. Therefore, be ready for quotes and sound-bytes from tomorrow onwards.

As I have written for the past two weeks the EUROGROUP v GREECE … IT’S NOT OVER YET. There will be more and more talk in line with the mandate that the Greek government was elected on. The average citizen of Greece couldn’t give a crap about what Schaeuble or Merkel says … they are Germans. The GREEK government was elected on a mandate of a better deal with Brussels / Berlin / Frankfurt. If they do not fulfill this mandate, they are out. They are politicians for God’s sake.

In my opinion this has NOT EVEN STARTED!!

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<ol start="2">
	<li><strong><span style="text-decoration: underline;"> WHAT’S ON MY MIND: -
THE FUNDAMENTAL TRADERS OVERVIEW:</span></strong></li>
</ol>
<em>PLEASE NOTE:</em>

<em>(I am NOT going to fill this section of the blog with charts; there are for PREMIUM SERVICE subscribers a further 8 charts of trade opportunities in their extended version of the blog which if you were to print a hard copy would generate over 35 pages when you include all the other exclusive content).</em>

<strong> </strong>
<h3 style="text-align: center;"><strong>DON’T GET SUCKERED INTO USD LONG TRADES NOW</strong></h3>
The title of this week’s main article may confuse a few readers, maybe a lot, I don’t know, given that for the past who knows how long I have been banging on about the strength of the USD.

Take it from me I have given enough easy money to brokers over the past seven / eight years and now is not the time to jump in blindly or with your eyes open.

Why would I say this?

We have just completed a week were the DXY has exploded higher basically on the back of the reality of the ECB quantitative easing (QE) starting from tomorrow.

We received the detail from Draghi on several issues that the markets wanted; commencement date, buying bonds with negative yield, no firm deadline of program, and delay on GREECE being part of the program plus the “Walt Disney” moment of the Mickey Mouse economic forecasts that the ECB loves to provide and then revise the knickers off them as we move forward. (It reminds me of the Mervyn King ex. BOE governor whose inflation forecasts were never achieved and he kept making excuses for this for his entire tenure at the BOE. The process is still alive and carries on with Draghi…. !)

In addition, the explosive move higher was in no small part due to the USD NFP Jobs data, absolutely incredible numbers…. (If only, Frank Underwood could achieve this with his “America Works” initiative).

We have moved to be within touching distance of the triple digit 100.00 level. As mentioned previously, “the algo” traders and systems will not require Viagra this weekend as they assess the potential opportunities that lay ahead.

It all sounds nicely bullish doesn’t it… it is nicely bullish. But this does not mean that as traders we have a Stevie Wonder moment.

Think….

Massive moves in all the USD majors… previous ranges blown apart…. Equities coming off tops as the realization has finally sunk in with equity traders that interest rates in the U.S. will be going up and personally, I would not rule out one 0.25% increase in June prior to the summer break.

Commodity prices are dumping GOLD, OIL, COPPER, and IRON ORE.

China is consistently buying fewer commodities and lowering growth projections because they are manufacturing less; it is a fecking slowdown.

The BOJ is heavily rumoured to be stopping its QE program.

Central Bank divergences – it is a race to the bottom.

DEFLATION is an issue it’s not just in the EUROZONE where 17 out of the 19 single currency users have DEFLATION. It’s widespread throughout the world, and our “ROCK GOD’S” aka Central Bank Presidents or Governors do NOT know how to fight it.

It is all USD positive…

You need pullbacks to enter and they could be up to 200 pips away from current prices depending on what currency pair you are looking at.

Lets look at the closes this week compared to last week: -

<a href="https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/USD-MAJOR-CLOSING-PRICE-COMPARED-08032015.png"><img class="aligncenter size-full wp-image-5449" src="https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/USD-MAJOR-CLOSING-PRICE-COMPARED-08032015.png" alt="USD MAJOR CLOSING PRICE COMPARED 08032015" width="388" height="430" /></a>

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As you can see from the chart above a simple USD long of a single lot trade across all the USD majors would have generated 1,606 pips. Even with a lot of Central Bank speak sometimes against the FED, the USD won through.

These moves show who is King… if you take nothing else away from this blog take that alone.

These moves will continue. But they cannot, or, rather should not be just a relentless one-way move. There are always external factors away from the USD to consider.

Just ignore targets in the EUR/USD, GBP/USD and the other pairs and focus on the DXY 100.00 level. You can virtually take it as read that the key levels / targets will co-ordinate as they approach.

Volatility will be high as we approach key levels. Index and currency traders will know the levels that they have targeted but the bug banks will have huge barriers in place to try and move the markets the way they want it. As retail traders our jobs are to come in on the coat tails of these moves and look at the probabilities of the potential moves ahead.

I am a USD bull and have been for many, many months (check the previous posts).

To be long the USD is in my opinion the only Forex trade right now that makes clear sense, and you could jump on board now but you may require deep pockets to hold onto loss making trades through what should be an inevitable consolidation period with potential for some deep pullbacks, as I said before the USD is overbought.

My job now for my subscribers is to suggest pullback entry levels to get long the USD with entry-level trades to enter the major pairs. This process will be outlined later in this blog.

For non-subscribers, be patient and do not go all in on the back of the media coverage of the strong USD, which will be hitting CNBC and BLOOMBERG with an even greater intensity next week.

Fridays NFP was a blow to equity market traders, who are having their period of easy money making being pulled from under them.

The USD has been a sleeper for 30+ years, more than a generation… No-one trading on Wall Street has seen anything like this before. Every DOW and nearly all the S&amp;P companies keep talking about currency headwinds being an issue. When they were being spoon-fed it was never a tailwind supporting them. This is no surprise, it has been coming for months, it just shows how poor a stock of CEO’s, and CFO’s are running businesses that they do not have the ability to forward plan. All I hear are excuses not solutions.

We are entering unchartered territory; we need to buy at the best prices we can to maximize the most of the potential moves ahead.

Personally, I will trade from a core position and add subsequent positions to take on-going day trade $$$ profits from. This is a motivational way to trade as your broker account gets $$$ and at the same time the core trade stops are being revised to protect $$$.

The last time that I was able to trade like this was believe it or not during parts of the financial crash all those years ago…fádo, fádo, (long long ago).

As always do not have “A rush of blood to the head” as Chris Martin would sing, set your entries MAKE A PLAN and TRADE YOUR PLAN.

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<ol start="3">
	<li><strong><span style="text-decoration: underline;"> THE PREMIUM SERVICE:

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

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

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

<span style="text-decoration: underline;">3.2.1 PREMIUM SERVICE – SUBSCRIPTION COSTS:</span>

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

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

THE 2015 SUBSCRIPTION BREAKDOWN IS AS FOLLOWS: -

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

<span style="text-decoration: underline;">3.2.2. PREMIUM SERVICE – CHANGES IN SUBSCRIPTION VARIABLES (INCLUDING COMMUNICATION OPTIONS AND PRICING / COSTS):</span>

If you recall, towards the end of 2014, I blogged about possible, potential changes for the PREMIUM SERVICE in 2015. I had several website options, in particular, that I did not complete. The main reason that I have held off is related to deciding upon what to do regarding space issues.

Looking into possible changes / improvements, believe it or not sparked the wider ranging review to explore the possible paths forward looking ahead 2/3 years.

One of the things I decided to do to help me in my decision process about how things should look moving forward was to look at competitors.

So over the past two / three weeks, I have had research carried out on lead based Forex service providers. This turned out to be just a starting point. The research became much wider embracing many aspects of what I currently do, what I had hoped to do in future and much, much more.

My GOD….

The volumes of information, the number of companies / individuals involved… the pricing… what you receive for your subscription etc. is so varied, so complex to categorize at times that it is proving to be an enormous exercise.

Reviewing my options about how I move forward is not just about cost. This is also about my own personal work / life balance. I am presently living in Canada and living / trading European and North American sessions and being around for early Asian sessions as well…. that's about 18 hours a day!! I love it, I really love trading Forex and being close to my screens when news breaks or currency pairs move wildly but it’s plain crazy, and, with technology and other alternatives I want to streamline several “Front of the house and backroom” functions.

The process moving forward involves: -
<ul>
	<li>COMMUNICATION and REPORTING OPTIONS</li>
	<li>WEBSITE OPTIONS and CAPABILITIES</li>
	<li>PRICE and TIERED SUBSCRPITIONS</li>
	<li>TRAINING and MENTORING</li>
	<li>PARTNERSHIP PROGRAMS and INITIATIVES</li>
</ul>
The list is wider and very interesting, if I was still in the corporate world, but I have been reducing the categories…I am me - NOT Goldman Sachs or Citi.

Personally, I do not want to over-complicate “ subscriptions” by having various levels of subscribers. I prefer the “all-in” approach, but changes will be happening across the board. But nothing is off limits.

For existing subscribers there will be a questionnaire released as soon as the research is completed to obtain your views.

From a timing perspective, changes should start to appear I think possibly as early as April, after the first quarter has ended. Watch this space for updates.

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<span style="text-decoration: underline;">3.3.1. TRADING REVIEW OF ACTIVITY and SUMMARY OF PERFORMANCE:</span>

Last week I made the decision based upon the lack of inter-market and inter-currency correlations and what I saw as unreal market divergences to close off all bar one of the commodity cross rate pairs. The EUR/AUD, GBP/AUD, EUR/NZD, GBP/NZD and EUR/CAD were all closed. Whilst I had all of these trades hedged I still posted a 720 pips loss for those 5 trades. The GBP/CAD I retained as I felt that this pair offered the best bullish overall pattern.

The day after I closed the trades correlations and divergences returned back to almost normal in my opinion and of course the trades started to bottom out. After NFP they had all recovered quite a margin off their lows. Last week’s NFP was probably the easiest one to trade for some time; it really was directional and most of the time relentless.

Do not panic if you did not fully participate in NFP (I didn’t either), I have a mixed performance on NFP and the Monday / Tuesday after and I have now made it a policy to trade extremely light around these days.

However: -
<ul>
	<li>There will be pullbacks if you missed the big moves.</li>
	<li>This is Forex levels are always tested.</li>
	<li>It’s all about looking at charts trying to figure out what are the key levels.</li>
	<li>There are always ‘High Probability” trades after NFP.</li>
	<li>It’s all about patience. Forex is a long distance marathon not a 100-metre dash.</li>
	<li>Measure your performance by the month, quarters if you take longer-term views.</li>
</ul>
Taking a step back…

Trading this week was generally good; I re-cooped all of the 720-pip loss referred to above. I have posted 614 pips on closed trades, plus I have a good number of pips in trades that have been carried forward from last week into this week. Barring a crisis at the open later today, all things are positive looking forward into next week.

My comments from last week regarding my RADAR TRADE set-ups have not been followed through with yet. Only two RADAR TRADES were completed last week, both profitable. Unfortunately this is not a number from which to draw conclusions from.

Last week there were 6 new trades that closed and all were profitable. Happy Days. However, when you add the 5 x FUNDAMENTAL commodity cross-rate trades, these were the only losing trades to close during last week the $$$$ return from the PREMIUM SERVICE trades year to date reduced by $1,060.00. I am delighted though, to have generated over 600 closed pips in the week to offset the 720 that were lost on the commodity cross rate trades.

The usual summary charts detailing the week and year to date performances, are below: -

<span style="text-decoration: underline;">3.3.2. – PREMIUM SERVICE PROFIT/LOSS RATIOS:

<a href="https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/PROFIT-LOSS-RATIO-08032015.png"><img class="aligncenter size-full wp-image-5418" src="https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/PROFIT-LOSS-RATIO-08032015.png" alt="PROFIT-LOSS RATIO 08032015" width="403" height="583" /></a>
</span>

<span style="text-decoration: underline;">3.3.3. – PREMIUM SERVICE RISK/REWARD ANALYSIS:</span>

<a href="https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/RISK-REWARD-08032015.png"><img class="aligncenter size-full wp-image-5419" src="https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/RISK-REWARD-08032015.png" alt="RISK-REWARD 08032015" width="440" height="549" /></a>

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<span style="text-decoration: underline;">3.3.4. – PREMIUM SERVICE OVERALL TRADE SUMMARY MONTH &amp; YTD:</span>

<a href="https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/PREM-SERV-PROFITS1-08032015.png"><img class="aligncenter size-full wp-image-5420" src="https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/PREM-SERV-PROFITS1-08032015.png" alt="PREM SERV PROFITS1 08032015" width="462" height="430" /></a>

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<a href="https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/PREM-SERV-PROFITS2-08032015.png"><img class="aligncenter size-full wp-image-5421" src="https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/PREM-SERV-PROFITS2-08032015.png" alt="PREM SERV PROFITS2 08032015" width="467" height="421" /></a>

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

<span style="text-decoration: underline;">4.1 EDUCATION:
</span>(The full list of all items and more from this section can be found in the PREMIUM SERVICE website in the Trade Essential area under the EDUCATION tab.)
<p style="text-align: center;"><strong>THE CRITICAL SUCCESS FACTORS YOU NEED TO BECOME A SUCCESSFUL TRADER.</strong></p>
<strong>STRATEGY</strong>: <strong>- </strong>There are so many different strategies: value, growth, momentum, short selling, etc. Find one that fits your personality and do your best to master it. The fastest way to learn is to study success. In other words, find someone who is successful at the strategy you like, and then mimic them with your own style. Another key is to recognize when the market environment is not conducive to your strategy and make the proper adjustments.

<strong>CONFIDENCE</strong>: - If you don't have confidence, you have very little chance of succeeding. This doesn’t just apply to trading; it applies to EVERYTHING in life (business, athletics, relationships etc.). With regards to trading, you have to believe in what you are doing and not be afraid to make mistakes. The key is to learn from them, make adjustments and constantly reevaluate your progress.

<strong>PRODUCT FOCUS</strong>: - There are so many different trading vehicles, like most things in life it is better to be the master of one than a jack of all trades across several different trading vehicles. We are FOREX traders.

<strong>KNOW YOUR TIME FRAME: -</strong> You must find a timeframe that fits your personality. If you are too nervous, maybe short-term trading isn’t for you. Everyone wants to make tons of money in the market really fast, but keep in mind that is not a healthy approach. Most people with this mindset tend to be “boom and bust” traders. They make a bunch of money and eventually blow up. If you are truly passionate about trading and hope to be in the game for a long time I recommend focusing on a slow and steady approach.

<strong>ABILITY TO MAKE DECISIONS: -</strong> If you go to McDonalds, stare at the menu for 10 minutes and still can’t decide what to order … then you have NO shot as a trader. You HAVE to be able to make decisions. You can’t hesitate all the time and trade with fear. Who cares if you make a bad decision, just MAKE ONE!!! If you are wrong, you will learn from it and make a better decision next time. As a motivational speaker would say “Good decisions come from experience, and experience comes from bad decisions.” The key is to stop trading with so many fears and MAKE a decision. Who knows? You might end up making the right choice, which will increase your confidence and enhance your ability to make sound decisions in the future.

<strong>CONVICTION: -</strong> This is very similar to confidence, but what I am referring to specifically is to have conviction in your ideas. It amazes me how many people will buy a stock just because someone on TV or Twitter mentions it. Don’t get me wrong I love to listen to ideas, but it has to fit my strategy in order for me to buy it. Same thing applies when someone says something negative about a trade you are in. Don’t be so easily swayed or talked out of your positions. Have conviction and let the MARKET prove you right or wrong! If you did your research to enter the trade and if nothing has fundamentally changed – stick with it.

<strong>ABILITY TO CUT LOSSES: -</strong> I’ve studied the best traders in history and they all have the same number one rule: CUT YOUR LOSSES! As a Trader, think of your cash as your inventory. If you can’t cut losses quickly, eventually they get bigger and bigger, and you will have no inventory left to work with. I have a strong conviction in my ideas but when the MARKET proves me wrong, I let go of my ego, cut my losses and move on.

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

<a href="https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/PS-LIVE-TRADES-08032015.png"><img class="aligncenter size-full wp-image-5429" src="https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/PS-LIVE-TRADES-08032015.png" alt="PS LIVE TRADES 08032015" width="717" height="477" /></a>

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

None. No spread sheet this week.

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

Remember position sizes for suggested FUNDAMENTAL TRADES should be much smaller than usual, maybe only 10%-15% of your normal trading position size. It is only when we add to our positions that the fun begins. All FUNDAMENTAL trades posted via email contain a second page with details of where I will add trades and when and where stops are moved, the Stair Stepping Stop Protection (SSSP) is self-explanatory and I hope useful. Using this grows your trading position and helps protect the profits made, should the trade gain traction. In addition, I have added some detail on my HEDGING approach as well to the second FUINDAMENTAL TRADE alert page. More detailed information on HEDGING can be found inside the PREMIUM SERVICE website under the EDUCATION tab – Trading Essentials.

I view the commodity cross-rate pairs as bonus trades away from the USD majors and over the year they can be very profitable. This is why I have a separate broker for commodity cross-RATE PAIR trades. It gives me an immediate measurement of performance without the need to extrapolate data.

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

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

<a href="https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/EURUSD-MONTHLY-PREMIUM-SERVICE-08032015.png"><img class="aligncenter size-large wp-image-5436" src="https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/EURUSD-MONTHLY-PREMIUM-SERVICE-08032015-1024x517.png" alt="EURUSD MONTHLY PREMIUM SERVICE 08032015" width="1024" height="517" /></a>

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<a href="https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/GBPUSD-DAILY-08032015.png"><img class="aligncenter size-large wp-image-5434" src="https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/GBPUSD-DAILY-08032015-1024x517.png" alt="GBPUSD DAILY 08032015" width="1024" height="517" /></a>

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<a href="https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/NZDUSD-DAILY-08032015.png"><img class="aligncenter size-large wp-image-5433" src="https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/NZDUSD-DAILY-08032015-1024x517.png" alt="NZDUSD DAILY 08032015" width="1024" height="517" /></a>

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<a href="https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/USDCAD-240M-08032015.png"><img class="aligncenter size-large wp-image-5432" src="https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/USDCAD-240M-08032015-1024x517.png" alt="USDCAD 240M 08032015" width="1024" height="517" /></a>

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<a href="https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/GBPCHF-240M-08032015.png"><img class="aligncenter size-large wp-image-5435" src="https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/GBPCHF-240M-08032015-1024x517.png" alt="GBPCHF 240M 08032015" width="1024" height="517" /></a>

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<a href="https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/EURJPY-DAILY-08032015.png"><img class="aligncenter size-large wp-image-5438" src="https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/EURJPY-DAILY-08032015-1024x517.png" alt="EURJPY DAILY 08032015" width="1024" height="517" /></a>

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<a href="https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/EURGBP-MONTHLY-08032015.png"><img class="aligncenter size-large wp-image-5439" src="https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/EURGBP-MONTHLY-08032015-1024x517.png" alt="EURGBP MONTHLY 08032015" width="1024" height="517" /></a>

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<a href="https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/AUDUSD-DAILY-08032015.png"><img class="aligncenter size-large wp-image-5440" src="https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/AUDUSD-DAILY-08032015-1024x517.png" alt="AUDUSD DAILY 08032015" width="1024" height="517" /></a>

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

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

<a href="https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/TRENDING-PAIRS-08032015.png"><img class="aligncenter size-full wp-image-5430" src="https://weeklyfxdrivethru.com/wp-content/uploads/2015/03/TRENDING-PAIRS-08032015.png" alt="TRENDING PAIRS 08032015" width="405" height="511" /></a>

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

<strong>EUR/USD: Closing Price 1.0843.</strong> In the past seven days we finally saw the EUR/USD break lower to the tune of almost 350 pips. It can now be fair to say that the easy money has been made. The pair is soooooo oversold its crazy. I am in the camp of that there has to be a bounce, relentless selling cannot continue. Looking around at Fibonacci extensions 1.0750 would appear to be the next support level. Looking farther afield we are really working in round numbers. But I will say this, if we break below 1.0500 this year…the run to parity will be RELENTLESS and oversold conditions will require a new definition. However, for this week; support is at 1.0750 and I am a seller back at 1.1030, but resistance I suppose has to be noted however minimal at 1.0900. Bear in mind GREECE…it’s like playing the joker.

<strong>GBP/USD: Closing Price 1.5039</strong>. I will be over this pair like a rash from the European open tomorrow, maybe earlier. 1.5000 is really do or die. There is a growing uncertainty in the UK with general elections due. UKIP has the Tories on the back foot and Cameron is ducking out of TV electoral debates. Cable is suffering from this and the EUROZONE story; the EUR/GBP is another pair I want to revisit again this week. Cable strongly rejected a trend line break last week over 1.5480; it took longs to the woodshed. If 1.5000 gives way we are looking back at mid 1.40’s. For this week support is 1.5000 then 1.4870. Resistance is at 1.5080.

<strong>AUD/USD: Closing Price 0.7715</strong>. I was spooked on this pair last week. I kept reading about trend line breaks higher and people getting long. Basic Forex mistake… TRADE YOUR FECKING PLAN…and ignore the rest of the world. This pair however, in my defence, was kept elevated last week by good Australian data. We have the AUD jobs report this week. Longer–term I see this pair at 0.7000. I just think we have a left and right hand at play…and neither appears coordinated to me. 0.7620 previous support must now be used in my opinion and resistance is good at 0.7740 then 0.7860, which if given another chance is my preferred area to short from.

<strong>NZD/USD: Closing Price 0.7360</strong>. We have finally broken lower out of the range (a 200-pip move lower in the week), which has kept this pair contained for weeks. On the horizon we have “Wheeler the bloody dealer”, talks one argument and his actions do the opposite. I am going to try and stay away from this pair until after the RBNZ on Wednesday. I do find this pair of late very, VERY annoying.

<strong>USD/CAD: Closing Price 1.2620.</strong> I finally made some pips and great $$$ from this pair last week. The oil proxy rampage continues and therefore the support and resistance levels are still wide at 1.2350/1.2400 to 1.2720/1/2800.

<strong>USD/CHF: Closing Price 0.9855</strong>. The stealth trade continues…. From all my accounts mucho $$$ and pips on this pair. I noticed last week at one time I had 14 long trades in play across my accounts. Last week I closed and re-established a core position. After parity… who knows, but let’s deal with 0.9700 to 1.000 as the levels for now.

<strong>USD/JPY: Closing Price 120.79. </strong> There were a lot of commentaries last week about shorting at 120.40 back towards 118.40. NFP tore that trade apart. I still believe that equities are toppy and the JPY divergences with equities and the Nikkei will have an effect soon. I want to short this pair, I think!! For now support is at 119.50 and resistance at 121.40.

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

MONDAY: AUD – NAB Business Confidence.
MONDAY: CNY – CPi and Trade Balance.

TUESDAY: N/A.

WEDNESDAY: NZD – RBNZ Cash Rate, Policy Statement &amp; Press Conference.
WEDNESDAY: AUD – Employment Data.

THURSDAY: USD – Core Retail Sales.

FRIDAY: CAD – Employment Data.

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

Chinese CPI and Trade Balance, CAD and AUD Employment Data plus U.S. Core Retail sales are on the agenda for news items this week, but the pick of the events has to be the RBNZ interest rate announcement, statement and press conference.

I recall writing a few weeks ago that I believed that a trending market would return soon. I still believe that it will but I really hope that we do not have to wait until the Fed raises interest rates before we see it. The USD strength story will no doubt dominate the likes of CNBC and Bloomberg TV and the fact that a big 100.00 number looms you can imagine that they will soon start to talk about it more.

As we edge closer to 100.00 on the DXY, I fear that we will reach yet another period of chop, chop, chop in the market as buyers and sellers battle it out for supremacy. This period of consolidation may be painful to trade and may last for a week or so looking back at previous sideways moves in the DXY.

We will have opportunities to make $$$, we just have to be alert and careful.

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

Take care.

Scott Pickering
The Pip Accumulator
Sunday March 8th 2015

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