(6847,1,'2015-11-21 14:51:52','2015-11-21 19:51:52','<p style=\"text-align: center;\"><strong>THE PREMIUM SERVICE</strong>\r\n<strong>from the</strong>\r\n<strong>WEEKLY FX DRIVE THRU</strong>\r\n<strong>“The Home of Single Lot Trading”</strong></p>\r\n&nbsp;\r\n<ol>\r\n	<li><strong> THE FX MARKET PLACE:</strong></li>\r\n</ol>\r\nLOOKING BACKWARDS, FORWARDS &amp; SIDEWAYS (FOR GOOD MEASURE) AT THE FX MARKET:\r\n\r\n1.1: LOOKING BACKWARDS:\r\n\r\nWhat a strange week we had last week, it seemed to just drift by, we had news, some of which gave a predictable market response, the rest did nothing really and we seemed to just plod along. Personally, I found it a little weird; I just cannot put my finger directly on the issue for some reason.\r\n\r\nNot to worry, moving on…\r\n\r\nWe had the FOMC minutes released from the last meeting. I think that I have fallen into the trap of powering down 24-36 hours ahead of data releases. The markets seem to go on hold eagerly awaiting any snippet of news from the FED to dissect, and to scrutinze every vowel, consonant and exclamation mark that is forthcoming. I am falling into the same pattern. I schedule myself around the FED announcements and psychologically I am probably disciplined subconsciously not to even think of trading 24-36 hours ahead of any announcement.\r\n\r\nThe FOMC minutes were so-so. You could argue both dovish and bearish. I think the fact that the dovish members of the committee were talking about the language to be used when talking about interest rates, tells me that the hawks are in control and that a hike is looming barring any catastrophes. Not that it could ever be that cut and dried but those are my thoughts.\r\n\r\nOn the other hand, Mario Draghi comes out pulling no punches at all. He spoke on both Monday and Friday last week, if you thought he was acting on Monday, on Friday it was the real deal. My main article this week is about the ECB, so I shall refrain from commenting further in this section.\r\n\r\nOther news of interest last week:\r\n<ul>\r\n	<li>The BOJ announced no more Quantitative easing (QE)…. for now.</li>\r\n	<li>The Australian monetary policy meeting minutes were neutral.</li>\r\n	<li>The GDT dairy prices were lower.</li>\r\n	<li>U.S. CPi data was in line.</li>\r\n	<li>Oil prices once again came under real pressure, as it appears storage is once again an issue, plus the rules of basic supply and demand are back in play.</li>\r\n	<li>Metal prices were hit really hard in the middle of the week and by the end of the week were attempting a bounce.</li>\r\n</ul>\r\nI think the continual state of flux hanging over the markets surrounding the FED rate hike is starting to have an effect. The reality of a rate hike is starting to resonate more with the markets in general and as a result trading volumes are reducing creating thinner markets with jumpy chop-chop moves.\r\n\r\nJust remember the dates below that I had in last week’s blog.\r\n<p style=\"text-align: center;\"><em>3<sup>rd</sup> December 2015: ECB meeting in Frankfurt with press conference.</em></p>\r\n<p style=\"text-align: center;\"><em>16<sup>th</sup> December 2015: FOMC meeting with press conference.</em><em> </em></p>\r\n<p style=\"text-align: center;\"><em>At these meetings I am expecting: - </em></p>\r\n<p style=\"text-align: center;\"><em>ECB:</em></p>\r\n<p style=\"text-align: center;\"><em>Confirmation of more Quantitative Easing (QE) to be added to the existing program. </em></p>\r\n<p style=\"text-align: center;\"><em>A formal announcement of an extension of the existing program beyond September 2016. </em></p>\r\n<p style=\"text-align: center;\"><em>Details of an extension to the types of bonds to be purchased.</em></p>\r\n<p style=\"text-align: center;\"><em>A revision to the overnight deposit rate for central banks within the Eurozone.</em></p>\r\n<p style=\"text-align: center;\"><em>Revisions of Eurozone growth targets to lower levels for 2016-2017.</em></p>\r\n<p style=\"text-align: center;\"><em>FOMC:</em></p>\r\n<p style=\"text-align: center;\"><em>Confirmation of an initial rate increase, probably 0.25%.</em></p>\r\n<p style=\"text-align: center;\"><em>Details from the economic projections “the dots” will be amended.</em></p>\r\n<p style=\"text-align: center;\"><em>Information regarding when future rate increases could be introduced. </em></p>\r\n<p style=\"text-align: left;\"><em>A revision of 2016-2017 growth objectives.</em>In addition to the above dates it was announced on Friday November 19th that the FED would make a special announcement on Monday the 23rd. I think the last times they did this type of announcement was in 2012.</p>\r\nWe could be raising rates in November and NOT December, but the announcement could be something else, nothing to do with interest rates. However a quick meeting arranged and an announcement the same day, it sounds like preparing the statement that\'s all.\r\n\r\nPerhaps, the most likely reason for a FED announcement is more to do with the “Discount Rate” and only the “Discount Rate”, but wouldn’t it be something if they pulled the trigger now and did not wait. Why wait to raise rates if the conditions are right now?\r\n\r\n<em>The discount rate is the interest rate charged to commercial banks and other depository institutions on loans they receive from their regional Federal Reserve Bank\'s lending facility - the discount window. </em><em>www.federalreserve.gov/monetary policy/discountrate.htm</em>\r\n\r\n<em>It is rather a misleading term. The discount rate is the rate above the FED funds rate that banks and large institutions use. It is currently 0.75% above what is now refereed to as zirp! </em>\r\n\r\nIf the FED moves/amends the “Discount Rate”, this could be seen as a market mover, in my opinion, this all but confirms a December rate hike, but as stated earlier would the FOMC consider both on the same day?\r\n\r\nThis is some real food for thought.\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n1.2: LOOKING FORWARD:\r\n\r\nMAJOR FOREX NEWS THIS WEEK THAT INTERESTS ME:\r\n\r\n(There are many more news items related to the Forex Market other than the ones listed below. These are the ones that interest me. You can go to <a href=\"http://www.forexfactory.com\">www.forexfactory.com</a> and <a href=\"http://www.tradingeconomics.com\">www.tradingeconomics.com</a> for a more comprehensive lists of all news events that are Forex related).\r\nSUNDAY: N/A.\r\n\r\nMONDAY: EUR – French and German Flash Manufacturing PMi.\r\nMONDAY: USD – FED ANNOUNCEMENT.\r\n\r\nTUESDAY: AUD – Words of wisdom from Glenn Stevens (RBA) .\r\nTUESDAY: USD – GDP and Consumer Confidence.\r\n\r\nWEDNESDAY: NZD – Trade Balance.\r\n\r\nTHURSDAY: N/A.\r\n\r\nFRIDAY: N/A.\r\n\r\n&nbsp;\r\n\r\nMY THOUGHTS ON THE NEWS ITEMS THIS COMING WEEK:\r\n\r\nI am pre-occupied with the FED announcement on Monday. The meeting was hastily arranged last Thursday.\r\n\r\nAs I said it is probably the amendment of the “Discount Rate” but you never know.\r\n\r\nIt is a very light week on news, we also have the U.S. Thanksgiving holiday, which falls on Thursday. However, as you may know we have Black Friday sales, Cyber Monday the following week and basically people in the U.S. make longer weekends out these days. There are so many people driving and flying around we literally start to shut down from around lunchtime Tuesday for the week.\r\n\r\nI plan to complete my 2016 TRADE and MARKETING PLAN this week, whilst it’s quiet. About 3 years ago, I found myself caught up in a couple of trades that caused real pain to my broker account at this time.\r\n\r\nTherefore, in the words of the song by Ian Hunter “Once bitten twice shy”. I will be very light with regards to trading.\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\nMY KEY SUPPORT &amp; RESISTANCE LEVELS THIS WEEK FOR USD MAJORS<strong>:</strong>\r\n\r\nIn this section I have as usual kept my charts as minimalist as possible. All readers regardless of level of experience should be able to follow my thoughts from my comments to the levels on the charts with ease.\r\n\r\nAll of my thoughts, ideas and relevant comments are contained on the charts.\r\n\r\nEUR/USD - Weekly Closing Price: 1.646\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/EURUSD-M-21112015.png\"><img class=\"aligncenter size-large wp-image-6837\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/EURUSD-M-21112015-1024x514.png\" alt=\"EURUSD M 21112015\" width=\"1024\" height=\"514\" /></a>\r\n\r\n&nbsp;\r\n\r\nGBP/USD - Weekly Closing Price: 1.5193\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/GBPUSD-D-21112015.png\"><img class=\"aligncenter size-large wp-image-6836\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/GBPUSD-D-21112015-1024x514.png\" alt=\"GBPUSD D 21112015\" width=\"1024\" height=\"514\" /></a>\r\n\r\n&nbsp;\r\n\r\nAUD/USD - Weekly Closing Price: 0.7236\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/AUDUSD-3D-21112015.png\"><img class=\"aligncenter size-large wp-image-6838\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/AUDUSD-3D-21112015-1024x514.png\" alt=\"AUDUSD 3D 21112015\" width=\"1024\" height=\"514\" /></a>\r\n\r\n&nbsp;\r\n\r\nNZD/USD - Weekly Closing Price: 0.6568\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/NZDUSD-D-21112015.png\"><img class=\"aligncenter size-large wp-image-6835\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/NZDUSD-D-21112015-1024x514.png\" alt=\"NZDUSD D 21112015\" width=\"1024\" height=\"514\" /></a>\r\n\r\n&nbsp;\r\n\r\nUSD/CAD - Weekly Closing Price: 1.3345\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/USDCAD-D-21112015.png\"><img class=\"aligncenter size-large wp-image-6834\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/USDCAD-D-21112015-1024x514.png\" alt=\"USDCAD D 21112015\" width=\"1024\" height=\"514\" /></a>\r\n\r\n&nbsp;\r\n\r\nUSD/CHF - Weekly Closing Price: 1.0186\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/USDCHF-D-21112015.png\"><img class=\"aligncenter size-large wp-image-6833\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/USDCHF-D-21112015-1024x514.png\" alt=\"USDCHF D 21112015\" width=\"1024\" height=\"514\" /></a>\r\n\r\n&nbsp;\r\n\r\nUSD/JPY - Weekly Closing Price: 122.90\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/USDJPY-D-21112015.png\"><img class=\"aligncenter size-large wp-image-6832\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/USDJPY-D-21112015-1024x514.png\" alt=\"USDJPY D 21112015\" width=\"1024\" height=\"514\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n1.3: LOOKING SIDEWAYS (FOR GOOD MEASURE):\r\n\r\nAs mentioned recently, in this section of the blog, I will answer questions and look at various aspects of trading.\r\n\r\nI was asked last week by one of my subscribers, how do I manage with 10-15 live trades and sometimes up to the same number again with limit orders waiting to trigger, bearing in mind I can have multiple trades open with the same currency pair.\r\n\r\nMy initial answer was plenty of Jack Daniels or Knob Creek.\r\n\r\nMoving on…\r\n\r\nThe question emanated from last week\'s article in this section of the blog about divergent FUNDAMENTAL trades that I am now providing.\r\n\r\nI raised the issue with my subscribers, that if they traded all types of my trade set-ups, RADAR, FLASH and FUNDAMENTAL, given the fact that I expect the number of FUNDAMENTAL trades could reach 10-15 live with 5-10 limit orders waiting, would this just swamp their existing account? Maybe it would be a good idea to open a fresh broker account to handle just FUNDAMENTAL trades.\r\n\r\nPersonally, I trade several accounts to manage all my trade set-ups, and by doing this it makes accounting very manageable from my perspective.\r\n\r\nIf I have all my FUNDAMENTAL trades in one broker account, not only are my screens easier to follow, but more importantly, I do not need to look at trades to see are they FLASH or FUNDAMENTAL. In addition, it also gives me an instant measurement of performance. I have key objectives to achieve that I have set myself and separation gives me immediate clarification.\r\n\r\nI have three other broker accounts that contain my FLASH and RADAR trades broken down into two categories USD majors and the rest.\r\n\r\nBy doing this it allows me to concentrate on the FLASH trades, which are opportunist trades looking for 10-30 pips. Again through separation I can see the wood from the trees.\r\n\r\nRADAR trades based off limit order entries tend to have a longer life span and can therefore be left alone for a while as the price targets are usually between Fibonacci levels / Horizontal supports. As you know though, of late, all trades have required micro-management to some degree; as it has become a day traders market.\r\n\r\nTherefore, managing multiple trades is made much easier through segregation in my opinion. I have no super-power skills. This approach works for me and I find that it compliments my way of trading.\r\n\r\n&nbsp;\r\n\r\n<strong> </strong>\r\n<ol start=\"2\">\r\n	<li><strong> WHAT’S ON MY MIND:</strong></li>\r\n</ol>\r\n<p style=\"text-align: center;\"><strong>DRAGHI PULLS NO PUNCHES</strong></p>\r\nRegular followers of my blogs since 2012 will be aware that on numerous occasions I have called out the EUROZONE and ECB for basic incompetence, inept management, poor leadership, reactive policies and avoidance of management of specific problems.\r\n\r\nI do not think that the elected Eurozone leaders have done anything at all to change any of my long felt thoughts and beliefs about the way they leap from problem to problem not fixing anything, hoping the problem goes away or is fixed by someone else aka “kicking the can down the road”.\r\n\r\nBehind all of this Mario Draghi, I must admit not averse to a little “can kicking” himself from time to time, carries on trying to keep together another Eurozone blunder called the European Central Bank (ECB).\r\n\r\nThe ECB was designed when times were good, by Germany and France and never modeled to test multiple members pushing and pulling within the constraints of a currency union.\r\n\r\nThe Euro the official currency of the Eurozone, is used by 19 of the 28 member states: -\r\nAustria, Belgium, Cyprus, Estonia, Finland, France, Germany, Greece, Ireland, Italy, Latvia, Lithuania, Luxembourg, Malta, the Netherlands, Portugal, Slovakia, Slovenia, and Spain.\r\n\r\nThere are 19 countries with 19 different tax regimes, 19 different growth expectations based upon their industries and services, 19 different population sizes, ages and country by country differences of unemployment problems from youth to permanently unemployed, and the biggest issue of 19 different countries using effectively the same cheque-book with 19 completely different cultures.\r\n\r\nA recipe for disaster, if ever there was one.\r\n\r\nFor his sins, to get by Mario Draghi has to operate within a very tight mandate to manage a central bank. To add to the complexity of his job profile, beneath him lie 19 elected country finance ministers focused on their own country’s requirements and needs. Mario Draghi has to manage these individual countries from a distance, or I prefer from so high up where the air is thin, that it’s difficult to breathe and try to keep the ECB monetary policy fair to all member states. This he has to do whilst at the same doing what Germany says without it looking that way.\r\n\r\nWith this as my brief backdrop to the Eurozone and ECB you would not be surprised if Mario Draghi drank a bit and you would, well at least I would, cut him some slack.\r\n\r\nGod help him, he has the likes of Wolfgang Scheauble (German Finance Minister), Jens Weidmann (President of the Bundesbank), the guy responsible for all the German dosh and members of the ECB committee like Ewald Nowotny (President of the National Bank of Austria) all loving the sound of their own voices so much they love speaking to the media and undermine much of the good work that Mario Draghi is trying to lead through the ECB and Eurozone with ECB monetary policy. You can forgive Draghi the odd can-kick when you consider the environment he has to work within.\r\n\r\nAn objective of 2% inflation hangs like a ball and chain around Draghi’s neck. He is dealing with DEFLATION for almost two years, if not longer depending upon how you want to interpret statistics. No central banker in the history of the world has the cure for DEFLATION.\r\n\r\nIn an attempt to deflect away from the dreaded “D” word, many central bankers started by Ben Bernanke (Ex FED Chairman) started calling DEFLATION disinflation… yeah right that sounds better and not as tragic.\r\n\r\nIf a single country cannot cure DEFLATION - what chance does Draghi have with 19 countries rolled into 1? The answer = bugger all.\r\n\r\nInside the Eurozone since the financial crisis in 2008 there continues to be unprecedented levels of unemployment (in particular youth), failing social support (health, social and family benefits), lack of infrastructure investment, and most of the 19 countries have a reduced tax income due to massive unemployment and austerity measures which were pushed onto them that they could not afford. In addition, Greece was granted bailouts that have little chance of repayment. Add all of these together and they form the contents of the cauldron that the Eurozone witch Angela Merkel and her sidekick Wolfgang “the pit-bull” Schaeuble have concocted.\r\n\r\nMost of these issues should be dealt with and managed by local central governments but many of these with hands tied look to the ECB for assistance. I have often called Draghi, Angela Merkel’s puppet. I still believe to a large extent he is, but every now and then he comes out fighting and delivers a speech to make matters 100% clear without ambiguity. He made such a speech last Friday at the European Banking Congress in Frankfurt.\r\n\r\nFair play to Mario Draghi, with all of the issues that he has to deal with and manage, he has now left the markets in no uncertain terms about how the cookie is going to crumble. There is for once in the Eurozone no can kicking and no ambiguity, even the dumbest commentator or analyst are left without doubt.\r\n\r\nHere are the key points he referenced: -\r\n<ul>\r\n	<li>Inflation in the Eurozone is slipping fast.</li>\r\n	<li>There is too much slack in the Eurozone economy.</li>\r\n	<li>The effect of lower oil process is keeping inflation low.</li>\r\n	<li>He is looking to increase / expand the current €1.1 trillion QE program.</li>\r\n	<li>The ECB is thinking of moving the overnight deposit rate paid by the ECB further below zero in an attempt to force central banks to place more money into the economy.</li>\r\n	<li>Core inflation excluding energy and food is still too weak.</li>\r\n	<li>No real wage growth.</li>\r\n</ul>\r\nIt\'s a great read and a very sad reflection that since the financial crash of 2008, almost 8 years later following the German failed policy of austerity the Eurozone is still deep in the sh*t. Yes there are green shoots dotted about but in general it reflects a complete disaster of policy that has failed.\r\n\r\nDraghi will have QE for at least another two years in my opinion and then he has to taper.\r\n\r\nMerkel and the Pit-bull who have been against QE (they favour the f**k up called austerity) are probably more onside now given the VW scandal and the fact that exports are under pressure as a world slowdown is in play. The world is in slowdown mode, so who will the German manufacturers sell finished goods to if there are no buyers? At least if it is cheaper to buy German products due to lower exchange rates via QE polices the German exporters have a chance of selling in a depressed market.\r\n\r\nYup… central bank policy divergence is coming to a trade desk and computer screen near you very soon, in fact it has started.\r\n\r\nThe markets tried to bounce the oversold EUR/USD off 1.0630 lows after the FOMC meeting minutes were released. Even the grossly oversold at that point EUR/USD couldn’t bounce to more than 1.7050. After Draghi’s speech and the reality of what he had said resonated, it took a few hours to sink in, there is defiance in the markets, but when it finally sank in, the EUR/USD fell back to its lows once again below 1.0650.\r\n\r\n&nbsp;\r\n<ol start=\"3\">\r\n	<li><strong> THE PREMIUM SERVICE:</strong></li>\r\n</ol>\r\n3.1: SUMMARY OF YEAR TO DATE PERFORMANCE - 2015:\r\n<p style=\"text-align: center;\"><strong>PREMIUM SERVICE – COST INCOME ANALYSIS (USD):</strong></p>\r\n<p style=\"text-align: center;\">PROFITS FROM TRADES COMPLETED THIS YEAR – to November 21st 2015.</p>\r\n<p style=\"text-align: center;\">MICRO LOT TRADER - 641 trades cost to trade = $64.10\r\n<strong>PROFIT</strong> from 641 trades = <strong>$1,212.80\r\n</strong>(You spend $64.10 on trades and your gross return is $1,212.80)</p>\r\n<p style=\"text-align: center;\">MINI LOT TRADER - 641 trades cost to trade = $641.00\r\n<strong>PROFIT</strong> from 641 trades = <strong>$12,128.00\r\n</strong>(You spend $641.00 on trades and your gross return is $1,212.80)</p>\r\n<p style=\"text-align: center;\">STANDARD LOT TRADER - 641 trades cost to trade = $6,410.00\r\n<strong>PROFIT</strong> from 641 trades = <strong>$121,280.00\r\n</strong>(You spend $6,410.00 on trades and your gross return is $1,212.80)</p>\r\n<p style=\"text-align: center;\"><strong>The profit levels below are based on single lot trades only; obviously if you trade with two lots the returns double and so on…………</strong></p>\r\nNOTES:\r\n<ul>\r\n	<li>If the above return from Forex Trading interests you go to my website landing page at <a href=\"http://www.weeklyfxdrivethru.com\">weeklyfxdrivethru.com</a> and check out the subscription options and special promotions under the tabs “PREMIUM SERVICE” and “PROMOTIONS”</li>\r\n	<li>If you want more data about the performance and my website does not answer your questions, contact me directly and I will supply the data you require.</li>\r\n	<li>THE PREMIUM SERVICE has subscribers with broker accounts of sizes ranging from $2,500 to over $100,000. A profitable trade is a profitable trade. It is all about trading according to the size of your broker account with EFFECTIVE POSITION SIZING and applying RISK MANAGEMENT principles at all times</li>\r\n</ul>\r\n&nbsp;\r\n\r\n3.2: PREMIUM SERVICE – 2015 PERFORMANCE TO DATE:\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/PS-PROFITS1-21112015.png\"><img class=\"aligncenter size-full wp-image-6821\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/PS-PROFITS1-21112015.png\" alt=\"PS PROFITS1 21112015\" width=\"527\" height=\"419\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/PREM-SERV-PROFITS2-21112015.png\"><img class=\"aligncenter size-full wp-image-6822\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/PREM-SERV-PROFITS2-21112015.png\" alt=\"PREM SERV PROFITS2 21112015\" width=\"538\" height=\"416\" /></a>\r\n\r\n3.3: PREMIUM SERVICE – 2014 TOTAL PERFORMANCE:\r\n\r\n<strong> <a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/PS-PROFITS-2014.png\"><img class=\"aligncenter size-full wp-image-6791\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/PS-PROFITS-2014.png\" alt=\"PS PROFITS 2014\" width=\"529\" height=\"487\" /></a></strong>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n3.4: PREMIUM SERVICE – DIVERGENT FUNDAMENTAL TRADES:\r\n<p style=\"text-align: center;\"><strong>AT LAST AN OPTION FOR THE PART-TIME TRADER\r\n</strong><strong>HOWEVER\r\n</strong><strong>ALL TRADERS CAN OBVIOUSLY BENEFIT</strong></p>\r\nI have talked recently about central bank policy divergence and how this should bring a more directional market to Forex.\r\n\r\nI have in the past been using my FUNDAMENTAL trade style primarily for commodity cross-rate pairs and whilst this has been successful, I decided in Q3 2015 to look a little closer at my subscriber make–up and I discovered that I could do more for my subscribers who I class as part-time.\r\n\r\nPart-time from my perspective means: A trader who is unable to access their computer for whatever reason at will and who therefore only really has two or three times a day to check on trades.\r\n\r\nObviously many brokers (all of my recommended brokers with banners on my website included) offer iOS and Android options to keep you in touch with your trading progress, which is great but some occupations exclude this access as well during the day.\r\n\r\nDIVERGENT FUNDAMENTAL TRADES, I believe offer a great solution to trading for part-time traders as they are longer-term position style trades.\r\n\r\nI had been working on these trades since September only based on what conditions should be in 2016-2017. As time progresses and the reality of what is ahead has finally hit home, the trade results got stronger and stronger. So much so I launched this type of trade with my existing PREMIUM SERVICE subscribers on November 1<sup>st</sup>, with the view of a December lift-off after the FOMC and ECB meetings.\r\n\r\nThe results so far have amazed me, 1,441 pips in November from completed trades is the net result. (Profits were taken on core trades only after NFP)\r\n\r\nThe PREMIUM SERVICE this year so far is ahead of my 2014 performance. This year so far the net result on pips generated in total is 12,128. This involves total dedicated almost round the clock access to computer screens and minimal sleep to achieve the best entries and exits.\r\n\r\nNot everyone can live that lifestyle, or maybe wants to.\r\n\r\nI will be releasing a special blog on DIVERGENT FUNDAMENTAL TRADES very soon.\r\n\r\nThe blog will be published on my website <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a> it will be sent to all people who are subscribers to the FREE NEWSLETTER (to subscribe to the FREE NEWSLETTER go to my landing page on the right hand side about 50% down), and it will posted to several social media options.\r\n\r\nIf you want to read more about this - sign up on my website. A 5 minute read could generate $$$$ for you and your family.\r\n\r\n&nbsp;\r\n\r\n<strong> </strong>\r\n<ol start=\"4\">\r\n	<li><strong> PREMIUM SERVICE (GOLD) EXCLUSIVE CONTENT:</strong></li>\r\n</ol>\r\n(This area contains exclusive content for PREMIUM SERVICE (GOLD) subscribers)\r\n\r\n4.1: THE PREMIUM SERVICE – TRADING REVIEW:\r\n(A look back at the past week’s highs and lows from trades undertaken and a look around at other relevant subscriber information):\r\n\r\nThis has been a great month so far.\r\n\r\n65 closed trades so far this month and with the markets giving us an inkling of what divergence can give us, we generated and banked some healthy profits.\r\n\r\nBoth RADAR and FLASH trade were solid in the past week and I am really pleased with the progress being made with the profit / loss ratios. Month on month these have been improving from Q1 and Q2 earlier this year with all the shenanigans going on with squeezes etc.\r\n\r\nOne point of note, the PREMIUM SERVICE total incomes for 2015 are now ahead of 2014, this is great news and frankly given the start to 2015 one which, I did not expect. Just to remind you that the WEEKLY FX DRIVE THRU blog finishes for the Christmas holidays soon, although I will still be managing trades through the break into 2016 and I expect to still be fairly active on twitter also as trades develop.\r\n\r\nLooking into this week. As already stated this is a strange week, it is neither one thing nor another with the Thanksgiving holiday in the U.S. I think that with all the vacations planned around the weekend from Tuesday lunchtime this week until Tuesday next week it will be very quiet in the North American session, and, if last year is repeated the big European players will stay out of the markets as well. All in all, I think it will be a thin trading week.\r\n\r\nMy plans are simple.\r\n\r\nAll I want to do Monday probably in the European session is add in RADAR trades based around AUD/NZD, AUD/CHF, GBP/CHF and layer in multiple trades surrounding the EUR/USD and USD/CHF. (I have placed trading charts around these set-ups later in the blog.\r\n\r\n&nbsp;\r\n\r\n4.2: THE DIVERGENT CB MONETARY POLICY – FUNDAMENTAL TRADES:\r\n\r\nWow… 1,441 pips of profit from these divergent trades so far.\r\n\r\nWe ended last week with 6 open trades, with a net -25 pips or so recorded.\r\n\r\nFor this week I am looking to layer in additional EUR/USD and USD/CHF trades as well as AUD/NZD and AUD/CHF trades.\r\n\r\nI will soon start a marketing campaign involving these divergent trades and how they are ideal for part-time Forex traders to follow.\r\n\r\n&nbsp;\r\n\r\n4.3: CHANGES TO MY PREFERRED FX BROKER LINEUP:\r\n\r\nMy new broker relationships to be advertised on my DRIVE THRU website, Hantec Markets and Vantage FX, will both soon have their banners on the website landing page along with my existing three FX brokers, Blackwell Global, AvaTrade and FX Pro.\r\n\r\nIf anyone would like to open an additional trading account prior to the banners being launched from these new brokers just contact me.\r\n\r\n&nbsp;\r\n\r\n4.4: REVISIONS TO TRADE STYLE DEFINITIONS:\r\n\r\nAs I am now adding what I hope to be longer-term trades based upon “Divergent Central bank Policy” to the PREMIUM SERVICE, I think it is time to re-address the trade styles.\r\n\r\nA couple of you wanted to add a 4<sup>th</sup> trade style to cover these new trades. Instead of doing this I think its easier just to simplify what is there at the moment as follows: -\r\n\r\nFLASH TRADES:\r\nOpportunist trades in LIVE market conditions. These trades are either based off a pullback strategy, a GIMME10 strategy, or off momentum in a trading pair at the time of entry.\r\nThe goal is to either take 10-30 pips or see a sufficient move to place a protective stop in place to see if a swing trade develops.\r\nSome FLASH TRADES may form part of an overall trading plan with a given currency pair, but the entry could not be made via a LIMIT ORDER.\r\n\r\nRADAR TRADES:\r\nThese a pre-meditated entry trades set from either Fibonacci levels, pivot points or previous support and resistance based off a combination of horizontal or trend line support or resistance.\r\nThe goal is always if possible to swing trade these trades by establishing a position that if market conditions apply allow the trade to gather traction and develop into a longer-term position trade.\r\n\r\nFUNDAMENTAL TRADES:\r\nThese will be trades based off my TRADING PLAN goals for trades in line with my longer-term market views.\r\nTrades in this area will use in addition Fibonacci levels, Pivot points, trend lines and prior support and resistance levels, weekly and monthly ATR’s (Average True Ranges) when setting Stop Loss levels.\r\nThese trades are hopefully of a longer-term nature. They will be initially “single-lot” sized trades due to the wider stop placements that will be applied.\r\n\r\n&nbsp;\r\n\r\n4.5: MAJOR TRADING PAIRS WITH LONGER-TERM MATCHING TRENDS:\r\n(The following currency pairs have Short Term (DAILY), Medium Term (WEEKLY) and Long Term (MONTHLY) charts all trending in the same direction).\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/TRENDING-PAIRS-21112015.png\"><img class=\"aligncenter size-full wp-image-6831\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/TRENDING-PAIRS-21112015.png\" alt=\"TRENDING PAIRS 21112015\" width=\"477\" height=\"616\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n4.6: THE PREMIUM SERVICE - LIVE TRADES ARE:\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/LIVE-TRADES-21112015.png\"><img class=\"aligncenter size-full wp-image-6830\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/LIVE-TRADES-21112015.png\" alt=\"LIVE TRADES 21112015\" width=\"701\" height=\"550\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n4.7: THE PREMIUM SERVICE – LIMIT ORDER TRADES ARE:\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/LIMIT-ORDERS-21112015.png\"><img class=\"aligncenter size-full wp-image-6829\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/LIMIT-ORDERS-21112015.png\" alt=\"LIMIT ORDERS 21112015\" width=\"689\" height=\"435\" /></a>\r\n\r\n&nbsp;\r\n\r\n4.8: POTENTIAL TRADES - WHAT PAIRS / CHARTS AM I LOOKING AT:\r\n\r\nMy thoughts and comments are contained on the charts.\r\n\r\n<strong> <a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/AUDCHF-DAILY-21112015.png\"><img class=\"aligncenter size-large wp-image-6841\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/AUDCHF-DAILY-21112015-1024x514.png\" alt=\"AUDCHF DAILY 21112015\" width=\"1024\" height=\"514\" /></a></strong>\r\n\r\n<strong> </strong>\r\n\r\n<strong><a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/AUDNZD-240M-21112015.png\"><img class=\"aligncenter size-large wp-image-6840\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/AUDNZD-240M-21112015-1024x514.png\" alt=\"AUDNZD 240M 21112015\" width=\"1024\" height=\"514\" /></a> </strong>\r\n\r\n<strong> <a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/GBPCHF-M-21112015.png\"><img class=\"aligncenter size-large wp-image-6839\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/GBPCHF-M-21112015-1024x514.png\" alt=\"GBPCHF M 21112015\" width=\"1024\" height=\"514\" /></a></strong>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n<ol start=\"5\">\r\n	<li><strong> MY FINAL THOUGHTS:</strong></li>\r\n</ol>\r\nOVERVIEW OF TRADING TIPS &amp; THOUGHTS FOR THE WEEK AHEAD:\r\n\r\nThis will be a strange week.\r\n\r\nWe have a FED announcement on Monday that could be a pre-cursor to the rate hike next month. This week could be the week that sets the tone for the next two years. Mario Draghi has already played his hand, it is just a case of how much more and until when with regards to QE in the Eurozone.\r\n\r\nI am expecting very thin markets this coming week so I would trade smaller to allow for increased volatility.\r\n\r\nAs usual trade within your means, use your TRADE PLAN manage RISK with correct POSITION SIZING and STOP PLACEMENT.\r\n\r\nLongevity in trading is paramount to success. Success in trading is based mainly trading high probability trades with your RISKS MANAGED.\r\n\r\n&nbsp;\r\n\r\nTake care,\r\n\r\nScott Pickering\r\nThe Pip Accumulator\r\nhttps://weeklyfxdrivethru.com/disclaimer/\r\nBLOG #82\r\n\r\n&nbsp;','DRAGHI PULLS NO PUNCHES','','publish','open','closed','','draghi-pulls-no-punches','','','2015-11-21 18:03:32','2015-11-21 23:03:32','',0,'https://weeklyfxdrivethru.com/?post_type=member_posts&#038;p=6847',0,'member_posts','',0),(6848,1,'2015-11-21 14:49:20','2015-11-21 19:49:20','<p style=\"text-align: center;\"><strong>THE PREMIUM SERVICE</strong>\r\n<strong>from the</strong>\r\n<strong>WEEKLY FX DRIVE THRU</strong>\r\n<strong>“The Home of Single Lot Trading”</strong></p>\r\n&nbsp;\r\n<ol>\r\n	<li><strong> THE FX MARKET PLACE:</strong></li>\r\n</ol>\r\nLOOKING BACKWARDS, FORWARDS &amp; SIDEWAYS (FOR GOOD MEASURE) AT THE FX MARKET:\r\n\r\n1.1: LOOKING BACKWARDS:\r\n\r\nWhat a strange week we had last week, it seemed to just drift by, we had news, some of which gave a predictable market response, the rest did nothing really and we seemed to just plod along. Personally, I found it a little weird; I just cannot put my finger directly on the issue for some reason.\r\n\r\nNot to worry, moving on…\r\n\r\nWe had the FOMC minutes released from the last meeting. I think that I have fallen into the trap of powering down 24-36 hours ahead of data releases. The markets seem to go on hold eagerly awaiting any snippet of news from the FED to dissect, and to securitize every vowel, consonant and exclamation mark that is forthcoming. I am falling into the same pattern. I schedule myself around the FED announcements and psychologically I am probably disciplined subconsciously not to even think of trading 24-36 hours ahead of any announcement.\r\n\r\nThe FOMC minutes were so-so. You could argue both dovish and bearish. I think the fact that the dovish members of the committee were talking about the language to be used when talking about interest rates, tells me that the hawks are in control and that a hike is looming barring any catastrophes. Not that it could ever be that cut and dried but those are my thoughts.\r\n\r\nOn the other hand, Mario Draghi comes out pulling no punches at all. He spoke on both Monday and Friday last week, if you thought he was acting on Monday, on Friday it was the real deal. My main article this week is about the ECB, so I shall refrain from commenting further in this section.\r\n\r\nOther news of interest last week:\r\n<ul>\r\n	<li>The BOJ announced no more Quantitative easing (QE)…. for now.</li>\r\n	<li>The Australian monetary policy meeting minutes were neutral.</li>\r\n	<li>The GDT dairy prices were lower.</li>\r\n	<li>U.S. CPi data was in line.</li>\r\n	<li>Oil prices once again came under real pressure, as it appears storage is once again an issue, plus the rules of basic supply and demand are back in play.</li>\r\n	<li>Metal prices were hit really hard in the middle of the week and by the end of the week were attempting a bounce.</li>\r\n</ul>\r\nI think the continual state of flux hanging over the markets surrounding the FED rate hike is starting to have an effect. The reality of a rate hike is starting to resonate more with the markets in general and as a result trading volumes are reducing creating thinner markets with jumpy chop-chop moves.\r\n\r\nJust remember the dates below that I had in last week’s blog.\r\n<p style=\"text-align: center;\"><em>3<sup>rd</sup> December 2015: ECB meeting in Frankfurt with press conference.</em></p>\r\n<p style=\"text-align: center;\"><em>16<sup>th</sup> December 2015: FOMC meeting with press conference.</em><em> </em></p>\r\n<p style=\"text-align: center;\"><em>At these meetings I am expecting: - </em></p>\r\n<p style=\"text-align: center;\"><em>ECB:</em></p>\r\n<p style=\"text-align: center;\"><em>Confirmation of more Quantitative Easing (QE) to be added to the existing program. </em></p>\r\n<p style=\"text-align: center;\"><em>A formal announcement of an extension of the existing program beyond September 2016. </em></p>\r\n<p style=\"text-align: center;\"><em>Details of an extension to the types of bonds to be purchased.</em></p>\r\n<p style=\"text-align: center;\"><em>A revision to the overnight deposit rate for central banks within the Eurozone.</em></p>\r\n<p style=\"text-align: center;\"><em>Revisions of Eurozone growth targets to lower levels for 2016-2017.</em></p>\r\n<p style=\"text-align: center;\"><em>FOMC:</em></p>\r\n<p style=\"text-align: center;\"><em>Confirmation of an initial rate increase, probably 0.25%.</em></p>\r\n<p style=\"text-align: center;\"><em>Details from the economic projections “the dots” will be amended.</em></p>\r\n<p style=\"text-align: center;\"><em>Information regarding when future rate increases could be introduced. </em></p>\r\n<p style=\"text-align: left;\"><em>A revision of 2016-2017 growth objectives.</em>In addition to the above dates it was announced on Friday November 19th that the FED would make a special announcement on Monday the 23rd. I think the last times they did this type of announcement was in 2012.</p>\r\nWe could be raising rates in November and NOT December, but the announcement could be something else, nothing to do with interest rates. However a quick meeting arranged and an announcement the same day, it sounds like preparing the statement that\'s all.\r\n\r\nPerhaps, the most likely reason for a FED announcement is more to do with the “Discount Rate” and only the “Discount Rate”, but wouldn’t it be something if they pulled the trigger now and did not wait. Why wait to raise rates if the conditions are right now?\r\n\r\n<em>The discount rate is the interest rate charged to commercial banks and other depository institutions on loans they receive from their regional Federal Reserve Bank\'s lending facility - the discount window. </em><em>www.federalreserve.gov/monetarypolicy/discountrate.htm</em>\r\n\r\n<em>It is rather a misleading term. The discount rate is the rate above the FED funds rate that banks and large institutions use. It is currently 0.75% above what is now refereed to as zirp! </em>\r\n\r\nIf the FED removes the “Discount Rate”, this could be seen as a market mover, in my opinion, this all but confirms a December rate hike, but as stated earlier would the FOMC consider both on the same day?\r\n\r\nThis is some real food for thought.\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n1.2: LOOKING FORWARD:\r\n\r\nMAJOR FOREX NEWS THIS WEEK THAT INTERESTS ME:\r\n\r\n(There are many more news items related to the Forex Market other than the ones listed below. These are the ones that interest me. You can go to <a href=\"http://www.forexfactory.com\">www.forexfactory.com</a> and <a href=\"http://www.tradingeconomics.com\">www.tradingeconomics.com</a> for a more comprehensive lists of all news events that are Forex related).\r\nSUNDAY: N/A.\r\n\r\nMONDAY: EUR – French and German Flash Manufacturing PMi.\r\nMONDAY: USD – FED ANNOUNCEMENT.\r\n\r\nTUESDAY: AUD – Words of wisdom from Glenn Stevens (RBA) .\r\nTUESDAY: USD – GDP and Consumer Confidence.\r\n\r\nWEDNESDAY: NZD – Trade Balance.\r\n\r\nTHURSDAY: N/A.\r\n\r\nFRIDAY: N/A.\r\n\r\n&nbsp;\r\n\r\nMY THOUGHTS ON THE NEWS ITEMS THIS COMING WEEK:\r\n\r\nI am pre-occupied with the FED announcement on Monday. The meeting was hastily arranged last Thursday.\r\n\r\nAs I said it is probably the removal of the “Discount Rate” but you never know.\r\n\r\nIt is a very light week on news, we also have the U.S. Thanksgiving holiday, which falls on Thursday. However, as you may know we have Black Friday sales, Cyber Monday the following week and basically people in the U.S. make longer weekends out these days. There are so many people driving and flying around we literally start to shut down from around lunchtime Tuesday for the week.\r\n\r\nI plan to complete my 2016 TRADE and MARKETING PLAN this week, whilst it’s quiet. About 3 years ago, I found myself caught up in a couple of trades that caused real pain to my broker account at this time.\r\n\r\nTherefore, in the words of the song by Ian Hunter “Once bitten twice shy”. I will be very light with regards to trading.\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\nMY KEY SUPPORT &amp; RESISTANCE LEVELS THIS WEEK FOR USD MAJORS<strong>:</strong>\r\n\r\nIn this section I have as usual kept my charts as minimalist as possible. All readers regardless of level of experience should be able to follow my thoughts from my comments to the levels on the charts with ease.\r\n\r\nAll of my thoughts, ideas and relevant comments are contained on the charts.\r\n\r\nEUR/USD - Weekly Closing Price: 1.646\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/EURUSD-M-21112015.png\"><img class=\"aligncenter size-large wp-image-6837\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/EURUSD-M-21112015-1024x514.png\" alt=\"EURUSD M 21112015\" width=\"1024\" height=\"514\" /></a>\r\n\r\n&nbsp;\r\n\r\nGBP/USD - Weekly Closing Price: 1.5193\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/GBPUSD-D-21112015.png\"><img class=\"aligncenter size-large wp-image-6836\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/GBPUSD-D-21112015-1024x514.png\" alt=\"GBPUSD D 21112015\" width=\"1024\" height=\"514\" /></a>\r\n\r\n&nbsp;\r\n\r\nAUD/USD - Weekly Closing Price: 0.7236\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/AUDUSD-3D-21112015.png\"><img class=\"aligncenter size-large wp-image-6838\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/AUDUSD-3D-21112015-1024x514.png\" alt=\"AUDUSD 3D 21112015\" width=\"1024\" height=\"514\" /></a>\r\n\r\n&nbsp;\r\n\r\nNZD/USD - Weekly Closing Price: 0.6568\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/NZDUSD-D-21112015.png\"><img class=\"aligncenter size-large wp-image-6835\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/NZDUSD-D-21112015-1024x514.png\" alt=\"NZDUSD D 21112015\" width=\"1024\" height=\"514\" /></a>\r\n\r\n&nbsp;\r\n\r\nUSD/CAD - Weekly Closing Price: 1.3345\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/USDCAD-D-21112015.png\"><img class=\"aligncenter size-large wp-image-6834\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/USDCAD-D-21112015-1024x514.png\" alt=\"USDCAD D 21112015\" width=\"1024\" height=\"514\" /></a>\r\n\r\n&nbsp;\r\n\r\nUSD/CHF - Weekly Closing Price: 1.0186\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/USDCHF-D-21112015.png\"><img class=\"aligncenter size-large wp-image-6833\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/USDCHF-D-21112015-1024x514.png\" alt=\"USDCHF D 21112015\" width=\"1024\" height=\"514\" /></a>\r\n\r\n&nbsp;\r\n\r\nUSD/JPY - Weekly Closing Price: 122.90\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/USDJPY-D-21112015.png\"><img class=\"aligncenter size-large wp-image-6832\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/USDJPY-D-21112015-1024x514.png\" alt=\"USDJPY D 21112015\" width=\"1024\" height=\"514\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n1.3: LOOKING SIDEWAYS (FOR GOOD MEASURE):\r\n\r\nAs mentioned recently, in this section of the blog, I will answer questions and look at various aspects of trading.\r\n\r\nI was asked last week by one of my subscribers, how do I manage with 10-15 live trades and sometimes up to the same number again with limit orders waiting to trigger, bearing in mind I can have multiple trades open with the same currency pair.\r\n\r\nMy initial answer was plenty of Jack Daniels or Knob Creek.\r\n\r\nMoving on…\r\n\r\nThe question emanated from last week\'s article in this section of the blog about divergent FUNDAMENTAL trades that I am now providing.\r\n\r\nI raised the issue with my subscribers, that if they traded all types of my trade set-ups, RADAR, FLASH and FUNDAMENTAL, given the fact that I expect the number of FUNDAMENTAL trades could reach 10-15 live with 5-10 limit orders waiting, would this just swamp their existing account? Maybe it would be a good idea to open a fresh broker account to handle just FUNDAMENTAL trades.\r\n\r\nPersonally, I trade several accounts to manage all my trade set-ups, and by doing this it makes accounting very manageable from my perspective.\r\n\r\nIf I have all my FUNDAMENTAL trades in one broker account, not only are my screens easier to follow, but more importantly, I do not need to look at trades to see are they FLASH or FUNDAMENTAL. In addition, it also gives me an instant measurement of performance. I have key objectives to achieve that I have set myself and separation gives me immediate clarification.\r\n\r\nI have three other broker accounts that contain my FLASH and RADAR trades broken down into two categories USD majors and the rest.\r\n\r\nBy doing this it allows me to concentrate on the FLASH trades, which are opportunist trades looking for 10-30 pips. Again through separation I can see the wood from the trees.\r\n\r\nRADAR trades based off limit order entries tend to have a longer life span and can therefore be left alone for a while as the price targets are usually between Fibonacci levels / Horizontal supports. As you know though, of late, all trades have required micro-management to some degree; as it has become a day traders market.\r\n\r\nTherefore, managing multiple trades is made much easier through segregation in my opinion. I have no super-power skills. This approach works for me and I find that it compliments my way of trading.\r\n\r\n&nbsp;\r\n\r\n<strong> </strong>\r\n<ol start=\"2\">\r\n	<li><strong> WHAT’S ON MY MIND:</strong></li>\r\n</ol>\r\n<p style=\"text-align: center;\"><strong>DRAGHI PULLS NO PUNCHES</strong></p>\r\nRegular followers of my blogs since 2012 will be aware that on numerous occasions I have called out the EUROZONE and ECB for basic incompetence, inept management, poor leadership, reactive policies and avoidance of management of specific problems.\r\n\r\nI do not think that the elected Eurozone leaders have done anything at all to change any of my long felt thoughts and beliefs about the way they leap from problem to problem not fixing anything, hoping the problem goes away or is fixed by someone else aka “kicking the can down the road”.\r\n\r\nBehind all of this Mario Draghi, I must admit not averse to a little “can kicking” himself from time to time, carries on trying to keep together another Eurozone blunder called the European Central Bank (ECB).\r\n\r\nThe ECB was designed when times were good, by Germany and France and never modeled to test multiple members pushing and pulling within the constraints of a currency union.\r\n\r\nThe Euro the official currency of the Eurozone, is used by 19 of the 28 member states: -\r\nAustria, Belgium, Cyprus, Estonia, Finland, France, Germany, Greece, Ireland, Italy, Latvia, Lithuania, Luxembourg, Malta, the Netherlands, Portugal, Slovakia, Slovenia, and Spain.\r\n\r\nThere are 19 countries with 19 different tax regimes, 19 different growth expectations based upon their industries and services, 19 different population sizes, ages and country by country differences of unemployment problems from youth to permanently unemployed, and the biggest issue of 19 different countries using effectively the same cheque-book with 19 completely different cultures.\r\n\r\nA recipe for disaster, if ever there was one.\r\n\r\nFor his sins, to get by Mario Draghi has to operate within a very tight mandate to manage a central bank. To add to the complexity of his job profile, beneath him lie 19 elected country finance ministers focused on their own country’s requirements and needs. Mario Draghi has to manage these individual countries from a distance, or I prefer from so high up where the air is thin, that it’s difficult to breathe and try to keep the ECB monetary policy fair to all member states. This he has to do whilst at the same doing what Germany says without it looking that way.\r\n\r\nWith this as my brief backdrop to the Eurozone and ECB you would not be surprised if Mario Draghi drank a bit and you would, well at least I would, cut him some slack.\r\n\r\nGod help him, he has the likes of Wolfgang Scheauble (German Finance Minister), Jens Weidmann (President of the Bundesbank), the guy responsible for all the German dosh and members of the ECB committee like Ewald Nowotny (President of the National Bank of Austria) all loving the sound of their own voices so much they love speaking to the media and undermine much of the good work that Mario Draghi is trying to lead through the ECB and Eurozone with ECB monetary policy. You can forgive Draghi the odd can-kick when you consider the environment he has to work within.\r\n\r\nAn objective of 2% inflation hangs like a ball and chain around Draghi’s neck. He is dealing with DEFLATION for almost two years, if not longer depending upon how you want to interpret statistics. No central banker in the history of the world has the cure for DEFLATION.\r\n\r\nIn an attempt to deflect away from the dreaded “D” word, many central bankers started by Ben Bernanke (Ex FED Chairman) started calling DEFLATION disinflation… yeah right that sounds better and not as tragic.\r\n\r\nIf a single country cannot cure DEFLATION - what chance does Draghi have with 19 countries rolled into 1? The answer = bugger all.\r\n\r\nInside the Eurozone since the financial crisis in 2008 there continues to be unprecedented levels of unemployment (in particular youth), failing social support (health, social and family benefits), lack of infrastructure investment, and most of the 19 countries have a reduced tax income due to massive unemployment and austerity measures which were pushed onto them that they could not afford. In addition, Greece was granted bailouts that have little chance of repayment. Add all of these together and they form the contents of the cauldron that the Eurozone witch Angela Merkel and her sidekick Wolfgang “the pit-bull” Schaeuble have concocted.\r\n\r\nMost of these issues should be dealt with and managed by local central governments but many of these with hands tied look to the ECB for assistance. I have often called Draghi, Angela Merkel’s puppet. I still believe to a large extent he is, but every now and then he comes out fighting and delivers a speech to make matters 100% clear without ambiguity. He made such a speech last Friday at the European Banking Congress in Frankfurt.\r\n\r\nFair play to Mario Draghi, with all of the issues that he has to deal with and manage, he has now left the markets in no uncertain terms about how the cookie is going to crumble. There is for once in the Eurozone no can kicking and no ambiguity, even the dumbest commentator or analyst are left without doubt.\r\n\r\nHere are the key points he referenced: -\r\n<ul>\r\n	<li>Inflation in the Eurozone is slipping fast.</li>\r\n	<li>There is too much slack in the Eurozone economy.</li>\r\n	<li>The effect of lower oil process is keeping inflation low.</li>\r\n	<li>He is looking to increase / expand the current €1.1 trillion QE program.</li>\r\n	<li>The ECB is thinking of moving the overnight deposit rate paid by the ECB further below zero in an attempt to force central banks to place more money into the economy.</li>\r\n	<li>Core inflation excluding energy and food is still too weak.</li>\r\n	<li>No real wage growth.</li>\r\n</ul>\r\nIt\'s a great read and a very sad reflection that since the financial crash of 2008, almost 8 years later following the German failed policy of austerity the Eurozone is still deep in the sh*t. Yes there are green shoots dotted about but in general it reflects a complete disaster of policy that has failed.\r\n\r\nDraghi will have QE for at least another two years in my opinion and then he has to taper.\r\n\r\nMerkel and the Pit-bull who have been against QE (they favour the f**k up called austerity) are probably more onside now given the VW scandal and the fact that exports are under pressure as a world slowdown is in play. The world is in slowdown mode, so who will the German manufacturers sell finished goods to if there are no buyers? At least if it is cheaper to buy German products due to lower exchange rates via QE polices the German exporters have a chance of selling in a depressed market.\r\n\r\nYup… central bank policy divergence is coming to a trade desk and computer screen near you very soon, in fact it has started.\r\n\r\nThe markets tried to bounce the oversold EUR/USD off 1.0630 lows after the FOMC meeting minutes were released. Even the grossly oversold at that point EUR/USD couldn’t bounce to more than 1.7050. After Draghi’s speech and the reality of what he had said resonated, it took a few hours to sink in, there is defiance in the markets, but when it finally sank in, the EUR/USD fell back to its lows once again below 1.0650.\r\n\r\n&nbsp;\r\n<ol start=\"3\">\r\n	<li><strong> THE PREMIUM SERVICE:</strong></li>\r\n</ol>\r\n3.1: SUMMARY OF YEAR TO DATE PERFORMANCE - 2015:\r\n<p style=\"text-align: center;\"><strong>PREMIUM SERVICE – COST INCOME ANALYSIS (USD):</strong></p>\r\n<p style=\"text-align: center;\">PROFITS FROM TRADES COMPLETED THIS YEAR – to November 21st 2015.</p>\r\n<p style=\"text-align: center;\">MICRO LOT TRADER - 641 trades cost to trade = $64.10\r\n<strong>PROFIT</strong> from 641 trades = <strong>$1,212.80\r\n</strong>(You spend $64.10 on trades and your gross return is $1,212.80)</p>\r\n<p style=\"text-align: center;\">MINI LOT TRADER - 641 trades cost to trade = $641.00\r\n<strong>PROFIT</strong> from 641 trades = <strong>$12,128.00\r\n</strong>(You spend $641.00 on trades and your gross return is $1,212.80)</p>\r\n<p style=\"text-align: center;\">STANDARD LOT TRADER - 641 trades cost to trade = $6,410.00\r\n<strong>PROFIT</strong> from 641 trades = <strong>$121,280.00\r\n</strong>(You spend $6,410.00 on trades and your gross return is $1,212.80)</p>\r\n<p style=\"text-align: center;\"><strong>The profit levels below are based on single lot trades only; obviously if you trade with two lots the returns double and so on…………</strong></p>\r\n<p style=\"text-align: center;\"></p>\r\nNOTES:\r\n<ul>\r\n	<li>If the above return from Forex Trading interests you go to my website landing page at <a href=\"http://www.weeklyfxdrivethru.com\">weeklyfxdrivethru.com</a> and check out the subscription options and special promotions under the tabs “PREMIUM SERVICE” and “PROMOTIONS”</li>\r\n	<li>If you want more data about the performance and my website does not answer your questions, contact me directly and I will supply the data you require.</li>\r\n	<li>THE PREMIUM SERVICE has subscribers with broker accounts of sizes ranging from $2,500 to over $100,000. A profitable trade is a profitable trade. It is all about trading according to the size of your broker account with EFFECTIVE POSITION SIZING and applying RISK MANAGEMENT principles at all times</li>\r\n</ul>\r\n&nbsp;\r\n\r\n3.2: PREMIUM SERVICE – 2015 PERFORMANCE TO DATE:\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/PS-PROFITS1-21112015.png\"><img class=\"aligncenter size-full wp-image-6821\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/PS-PROFITS1-21112015.png\" alt=\"PS PROFITS1 21112015\" width=\"527\" height=\"419\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/PREM-SERV-PROFITS2-21112015.png\"><img class=\"aligncenter size-full wp-image-6822\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/PREM-SERV-PROFITS2-21112015.png\" alt=\"PREM SERV PROFITS2 21112015\" width=\"538\" height=\"416\" /></a>\r\n\r\n3.3: PREMIUM SERVICE – 2014 TOTAL PERFORMANCE:\r\n\r\n<strong> <a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/PS-PROFITS-2014.png\"><img class=\"aligncenter size-full wp-image-6791\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/PS-PROFITS-2014.png\" alt=\"PS PROFITS 2014\" width=\"529\" height=\"487\" /></a></strong>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n3.4: PREMIUM SERVICE – DIVERGENT FUNDAMENTAL TRADES:\r\n<p style=\"text-align: center;\"><strong>AT LAST AN OPTION FOR THE PART-TIME TRADER\r\n</strong><strong>HOWEVER\r\n</strong><strong>ALL TRADERS CAN OBVIOUSLY BENEFIT</strong></p>\r\nI have talked recently about central bank policy divergence and how this should bring a more directional market to Forex.\r\n\r\nI have in the past been using my FUNDAMENTAL trade style primarily for commodity cross-rate pairs and whilst this has been successful, I decided in Q3 2015 to look a little closer at my subscriber make–up and I discovered that I could do more for my subscribers who I class as part-time.\r\n\r\nPart-time from my perspective means: A trader who is unable to access their computer for whatever reason at will and who therefore only really has two or three times a day to check on trades.\r\n\r\nObviously many brokers (all of my recommended brokers with banners on my website included) offer iOS and Android options to keep you in touch with your trading progress, which is great but some occupations exclude this access as well during the day.\r\n\r\nDIVERGENT FUNDAMENTAL TRADES, I believe offer a great solution to trading for part-time traders as they are longer-term position style trades.\r\n\r\nI had been working on these trades since September only based on what conditions should be in 2016-2017. As time progresses and the reality of what is ahead has finally hit home, the trade results got stronger and stronger. So much so I launched this type of trade with my existing PREMIUM SERVICE subscribers on November 1<sup>st</sup>, with the view of a December lift-off after the FOMC and ECB meetings.\r\n\r\nThe results so far have amazed me, 1,441 pips in November from completed trades is the net result. (Profits were taken on core trades only after NFP)\r\n\r\nThe PREMIUM SERVICE this year so far is ahead of my 2014 performance. This year so far the net result on pips generated in total is 12,128. This involves total dedicated almost round the clock access to computer screens and minimal sleep to achieve the best entries and exits.\r\n\r\nNot everyone can live that lifestyle, or maybe wants to.\r\n\r\nI will be releasing a special blog on DIVERGENT FUNDAMENTAL TRADES very soon.\r\n\r\nThe blog will be published on my website <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a> it will be sent to all people who are subscribers to the FREE NEWSLETTER (to subscribe to the FREE NEWSLETTER go to my landing page on the right hand side about 50% down), and it will posted to several social media options.\r\n\r\nIf you want to read more about this - sign up on my website. A 5 minute read could generate $$$$ for you and your family.\r\n\r\n&nbsp;\r\n\r\n<strong> </strong>\r\n<ol start=\"4\">\r\n	<li><strong> PREMIUM SERVICE (GOLD) EXCLUSIVE CONTENT:</strong></li>\r\n</ol>\r\n(This area contains exclusive content for PREMIUM SERVICE (GOLD) subscribers)\r\n\r\n4.1: THE PREMIUM SERVICE – TRADING REVIEW:\r\n(A look back at the past week’s highs and lows from trades undertaken and a look around at other relevant subscriber information):\r\n\r\nThis has been a great month so far.\r\n\r\n65 closed trades so far this month and with the markets giving us an inkling of what divergence can give us, we generated and banked some healthy profits.\r\n\r\nBoth RADAR and FLASH trade were solid in the past week and I am really pleased with the progress being made with the profit / loss ratios. Month on month these have been improving from Q1 and Q2 earlier this year with all the shenanigans going on with squeezes etc.\r\n\r\nOne point of note, the PREMIUM SERVICE total incomes for 2015 are now ahead of 2014, this is great news and frankly given the start to 2015 one which, I did not expect. Just to remind you that the WEEKLY FX DRIVE THRU blog finishes for the Christmas holidays soon, although I will still be managing trades through the break into 2016 and I expect to still be fairly active on twitter also as trades develop.\r\n\r\nLooking into this week. As already stated this is a strange week, it is neither one thing nor another with the Thanksgiving holiday in the U.S. I think that with all the vacations planned around the weekend from Tuesday lunchtime this week until Tuesday next week it will be very quiet in the North American session, and, if last year is repeated the big European players will stay out of the markets as well. All in all, I think it will be a thin trading week.\r\n\r\nMy plans are simple.\r\n\r\nAll I want to do Monday probably in the European session is add in RADAR trades based around AUD/NZD, AUD/CHF, GBP/CHF and layer in multiple trades surrounding the EUR/USD and USD/CHF. (I have placed trading charts around these set-ups later in the blog.\r\n\r\n&nbsp;\r\n\r\n4.2: THE DIVERGENT CB MONETARY POLICY – FUNDAMENTAL TRADES:\r\n\r\nWow… 1,441 pips of profit from these divergent trades so far.\r\n\r\nWe ended last week with 6 open trades, with a net -25 pips or so recorded.\r\n\r\nFor this week I am looking to layer in additional EUR/USD and USD/CHF trades as well as AUD/NZD and AUD/CHF trades.\r\n\r\nI will soon start a marketing campaign involving these divergent trades and how they are ideal for part-time Forex traders to follow.\r\n\r\n&nbsp;\r\n\r\n4.3: CHANGES TO MY PREFERRED FX BROKER LINEUP:\r\n\r\nMy new broker relationships to be advertised on my DRIVE THRU website, Hantec Markets and Vantage FX, will both soon have their banners on the website landing page along with my existing three FX brokers, Blackwell Global, AvaTrade and FX Pro.\r\n\r\nIf anyone would like to open an additional trading account prior to the banners being launched from these new brokers just contact me.\r\n\r\n&nbsp;\r\n\r\n4.4: REVISIONS TO TRADE STYLE DEFINITIONS:\r\n\r\nAs I am now adding what I hope to be longer-term trades based upon “Divergent Central bank Policy” to the PREMIUM SERVICE, I think it is time to re-address the trade styles.\r\n\r\nA couple of you wanted to add a 4<sup>th</sup> trade style to cover these new trades. Instead of doing this I think its easier just to simplify what is there at the moment as follows: -\r\n\r\nFLASH TRADES:\r\nOpportunist trades in LIVE market conditions. These trades are either based off a pullback strategy, a GIMME10 strategy, or off momentum in a trading pair at the time of entry.\r\nThe goal is to either take 10-30 pips or see a sufficient move to place a protective stop in place to see if a swing trade develops.\r\nSome FLASH TRADES may form part of an overall trading plan with a given currency pair, but the entry could not be made via a LIMIT ORDER.\r\n\r\nRADAR TRADES:\r\nThese a pre-meditated entry trades set from either Fibonacci levels, pivot points or previous support and resistance based off a combination of horizontal or trend line support or resistance.\r\nThe goal is always if possible to swing trade these trades by establishing a position that if market conditions apply allow the trade to gather traction and develop into a longer-term position trade.\r\n\r\nFUNDAMENTAL TRADES:\r\nThese will be trades based off my TRADING PLAN goals for trades in line with my longer-term market views.\r\nTrades in this area will use in addition Fibonacci levels, Pivot points, trend lines and prior support and resistance levels, weekly and monthly ATR’s (Average True Ranges) when setting Stop Loss levels.\r\nThese trades are hopefully of a longer-term nature. They will be initially “single-lot” sized trades due to the wider stop placements that will be applied.\r\n\r\n&nbsp;\r\n\r\n4.5: MAJOR TRADING PAIRS WITH LONGER-TERM MATCHING TRENDS:\r\n(The following currency pairs have Short Term (DAILY), Medium Term (WEEKLY) and Long Term (MONTHLY) charts all trending in the same direction).\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/TRENDING-PAIRS-21112015.png\"><img class=\"aligncenter size-full wp-image-6831\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/TRENDING-PAIRS-21112015.png\" alt=\"TRENDING PAIRS 21112015\" width=\"477\" height=\"616\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n4.6: THE PREMIUM SERVICE - LIVE TRADES ARE:\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/LIVE-TRADES-21112015.png\"><img class=\"aligncenter size-full wp-image-6830\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/LIVE-TRADES-21112015.png\" alt=\"LIVE TRADES 21112015\" width=\"701\" height=\"550\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n4.7: THE PREMIUM SERVICE – LIMIT ORDER TRADES ARE:\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/LIMIT-ORDERS-21112015.png\"><img class=\"aligncenter size-full wp-image-6829\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/LIMIT-ORDERS-21112015.png\" alt=\"LIMIT ORDERS 21112015\" width=\"689\" height=\"435\" /></a>\r\n\r\n&nbsp;\r\n\r\n4.8: POTENTIAL TRADES - WHAT PAIRS / CHARTS AM I LOOKING AT:\r\n\r\nMy thoughts and comments are contained on the charts.\r\n\r\n<strong> <a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/AUDCHF-DAILY-21112015.png\"><img class=\"aligncenter size-large wp-image-6841\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/AUDCHF-DAILY-21112015-1024x514.png\" alt=\"AUDCHF DAILY 21112015\" width=\"1024\" height=\"514\" /></a></strong>\r\n\r\n<strong> </strong>\r\n\r\n<strong><a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/AUDNZD-240M-21112015.png\"><img class=\"aligncenter size-large wp-image-6840\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/AUDNZD-240M-21112015-1024x514.png\" alt=\"AUDNZD 240M 21112015\" width=\"1024\" height=\"514\" /></a> </strong>\r\n\r\n<strong> <a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/GBPCHF-M-21112015.png\"><img class=\"aligncenter size-large wp-image-6839\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/GBPCHF-M-21112015-1024x514.png\" alt=\"GBPCHF M 21112015\" width=\"1024\" height=\"514\" /></a></strong>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n<ol start=\"5\">\r\n	<li><strong> MY FINAL THOUGHTS:</strong></li>\r\n</ol>\r\nOVERVIEW OF TRADING TIPS &amp; THOUGHTS FOR THE WEEK AHEAD:\r\n\r\nThis will be a strange week.\r\n\r\nWe have a FED announcement on Monday that could be a pre-cursor to the rate hike next month. This week could be the week that sets the tone for the next two years. Mario Draghi has already played his hand, it is just a case of how much more and until when with regards to QE in the Eurozone.\r\n\r\nI am expecting very thin markets this coming week so I would trade smaller to allow for increased volatility.\r\n\r\nAs usual trade within your means, use your TRADE PLAN manage RISK with correct POSITION SIZING and STOP PLACEMENT.\r\n\r\nLongevity in trading is paramount to success. Success in trading is based mainly trading high probability trades with your RISKS MANAGED.\r\n\r\n&nbsp;\r\n\r\nTake care,\r\n\r\nScott Pickering\r\nThe Pip Accumulator\r\nhttps://weeklyfxdrivethru.com/disclaimer/\r\nBLOG #82\r\n\r\n&nbsp;','DRAGHI PULLS NO PUNCHES','','inherit','closed','closed','','6847-revision-v1','','','2015-11-21 14:49:20','2015-11-21 19:49:20','',6847,'https://weeklyfxdrivethru.com/6847-revision-v1/',0,'revision','',0),(6849,1,'2015-11-21 14:51:52','2015-11-21 19:51:52','<p style=\"text-align: center;\"><strong>THE PREMIUM SERVICE</strong>\r\n<strong>from the</strong>\r\n<strong>WEEKLY FX DRIVE THRU</strong>\r\n<strong>“The Home of Single Lot Trading”</strong></p>\r\n&nbsp;\r\n<ol>\r\n	<li><strong> THE FX MARKET PLACE:</strong></li>\r\n</ol>\r\nLOOKING BACKWARDS, FORWARDS &amp; SIDEWAYS (FOR GOOD MEASURE) AT THE FX MARKET:\r\n\r\n1.1: LOOKING BACKWARDS:\r\n\r\nWhat a strange week we had last week, it seemed to just drift by, we had news, some of which gave a predictable market response, the rest did nothing really and we seemed to just plod along. Personally, I found it a little weird; I just cannot put my finger directly on the issue for some reason.\r\n\r\nNot to worry, moving on…\r\n\r\nWe had the FOMC minutes released from the last meeting. I think that I have fallen into the trap of powering down 24-36 hours ahead of data releases. The markets seem to go on hold eagerly awaiting any snippet of news from the FED to dissect, and to scrutinze every vowel, consonant and exclamation mark that is forthcoming. I am falling into the same pattern. I schedule myself around the FED announcements and psychologically I am probably disciplined subconsciously not to even think of trading 24-36 hours ahead of any announcement.\r\n\r\nThe FOMC minutes were so-so. You could argue both dovish and bearish. I think the fact that the dovish members of the committee were talking about the language to be used when talking about interest rates, tells me that the hawks are in control and that a hike is looming barring any catastrophes. Not that it could ever be that cut and dried but those are my thoughts.\r\n\r\nOn the other hand, Mario Draghi comes out pulling no punches at all. He spoke on both Monday and Friday last week, if you thought he was acting on Monday, on Friday it was the real deal. My main article this week is about the ECB, so I shall refrain from commenting further in this section.\r\n\r\nOther news of interest last week:\r\n<ul>\r\n	<li>The BOJ announced no more Quantitative easing (QE)…. for now.</li>\r\n	<li>The Australian monetary policy meeting minutes were neutral.</li>\r\n	<li>The GDT dairy prices were lower.</li>\r\n	<li>U.S. CPi data was in line.</li>\r\n	<li>Oil prices once again came under real pressure, as it appears storage is once again an issue, plus the rules of basic supply and demand are back in play.</li>\r\n	<li>Metal prices were hit really hard in the middle of the week and by the end of the week were attempting a bounce.</li>\r\n</ul>\r\nI think the continual state of flux hanging over the markets surrounding the FED rate hike is starting to have an effect. The reality of a rate hike is starting to resonate more with the markets in general and as a result trading volumes are reducing creating thinner markets with jumpy chop-chop moves.\r\n\r\nJust remember the dates below that I had in last week’s blog.\r\n<p style=\"text-align: center;\"><em>3<sup>rd</sup> December 2015: ECB meeting in Frankfurt with press conference.</em></p>\r\n<p style=\"text-align: center;\"><em>16<sup>th</sup> December 2015: FOMC meeting with press conference.</em><em> </em></p>\r\n<p style=\"text-align: center;\"><em>At these meetings I am expecting: - </em></p>\r\n<p style=\"text-align: center;\"><em>ECB:</em></p>\r\n<p style=\"text-align: center;\"><em>Confirmation of more Quantitative Easing (QE) to be added to the existing program. </em></p>\r\n<p style=\"text-align: center;\"><em>A formal announcement of an extension of the existing program beyond September 2016. </em></p>\r\n<p style=\"text-align: center;\"><em>Details of an extension to the types of bonds to be purchased.</em></p>\r\n<p style=\"text-align: center;\"><em>A revision to the overnight deposit rate for central banks within the Eurozone.</em></p>\r\n<p style=\"text-align: center;\"><em>Revisions of Eurozone growth targets to lower levels for 2016-2017.</em></p>\r\n<p style=\"text-align: center;\"><em>FOMC:</em></p>\r\n<p style=\"text-align: center;\"><em>Confirmation of an initial rate increase, probably 0.25%.</em></p>\r\n<p style=\"text-align: center;\"><em>Details from the economic projections “the dots” will be amended.</em></p>\r\n<p style=\"text-align: center;\"><em>Information regarding when future rate increases could be introduced. </em></p>\r\n<p style=\"text-align: left;\"><em>A revision of 2016-2017 growth objectives.</em>In addition to the above dates it was announced on Friday November 19th that the FED would make a special announcement on Monday the 23rd. I think the last times they did this type of announcement was in 2012.</p>\r\nWe could be raising rates in November and NOT December, but the announcement could be something else, nothing to do with interest rates. However a quick meeting arranged and an announcement the same day, it sounds like preparing the statement that\'s all.\r\n\r\nPerhaps, the most likely reason for a FED announcement is more to do with the “Discount Rate” and only the “Discount Rate”, but wouldn’t it be something if they pulled the trigger now and did not wait. Why wait to raise rates if the conditions are right now?\r\n\r\n<em>The discount rate is the interest rate charged to commercial banks and other depository institutions on loans they receive from their regional Federal Reserve Bank\'s lending facility - the discount window. </em><em>www.federalreserve.gov/monetary policy/discountrate.htm</em>\r\n\r\n<em>It is rather a misleading term. The discount rate is the rate above the FED funds rate that banks and large institutions use. It is currently 0.75% above what is now refereed to as zirp! </em>\r\n\r\nIf the FED removes the “Discount Rate”, this could be seen as a market mover, in my opinion, this all but confirms a December rate hike, but as stated earlier would the FOMC consider both on the same day?\r\n\r\nThis is some real food for thought.\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n1.2: LOOKING FORWARD:\r\n\r\nMAJOR FOREX NEWS THIS WEEK THAT INTERESTS ME:\r\n\r\n(There are many more news items related to the Forex Market other than the ones listed below. These are the ones that interest me. You can go to <a href=\"http://www.forexfactory.com\">www.forexfactory.com</a> and <a href=\"http://www.tradingeconomics.com\">www.tradingeconomics.com</a> for a more comprehensive lists of all news events that are Forex related).\r\nSUNDAY: N/A.\r\n\r\nMONDAY: EUR – French and German Flash Manufacturing PMi.\r\nMONDAY: USD – FED ANNOUNCEMENT.\r\n\r\nTUESDAY: AUD – Words of wisdom from Glenn Stevens (RBA) .\r\nTUESDAY: USD – GDP and Consumer Confidence.\r\n\r\nWEDNESDAY: NZD – Trade Balance.\r\n\r\nTHURSDAY: N/A.\r\n\r\nFRIDAY: N/A.\r\n\r\n&nbsp;\r\n\r\nMY THOUGHTS ON THE NEWS ITEMS THIS COMING WEEK:\r\n\r\nI am pre-occupied with the FED announcement on Monday. The meeting was hastily arranged last Thursday.\r\n\r\nAs I said it is probably the removal of the “Discount Rate” but you never know.\r\n\r\nIt is a very light week on news, we also have the U.S. Thanksgiving holiday, which falls on Thursday. However, as you may know we have Black Friday sales, Cyber Monday the following week and basically people in the U.S. make longer weekends out these days. There are so many people driving and flying around we literally start to shut down from around lunchtime Tuesday for the week.\r\n\r\nI plan to complete my 2016 TRADE and MARKETING PLAN this week, whilst it’s quiet. About 3 years ago, I found myself caught up in a couple of trades that caused real pain to my broker account at this time.\r\n\r\nTherefore, in the words of the song by Ian Hunter “Once bitten twice shy”. I will be very light with regards to trading.\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\nMY KEY SUPPORT &amp; RESISTANCE LEVELS THIS WEEK FOR USD MAJORS<strong>:</strong>\r\n\r\nIn this section I have as usual kept my charts as minimalist as possible. All readers regardless of level of experience should be able to follow my thoughts from my comments to the levels on the charts with ease.\r\n\r\nAll of my thoughts, ideas and relevant comments are contained on the charts.\r\n\r\nEUR/USD - Weekly Closing Price: 1.646\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/EURUSD-M-21112015.png\"><img class=\"aligncenter size-large wp-image-6837\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/EURUSD-M-21112015-1024x514.png\" alt=\"EURUSD M 21112015\" width=\"1024\" height=\"514\" /></a>\r\n\r\n&nbsp;\r\n\r\nGBP/USD - Weekly Closing Price: 1.5193\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/GBPUSD-D-21112015.png\"><img class=\"aligncenter size-large wp-image-6836\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/GBPUSD-D-21112015-1024x514.png\" alt=\"GBPUSD D 21112015\" width=\"1024\" height=\"514\" /></a>\r\n\r\n&nbsp;\r\n\r\nAUD/USD - Weekly Closing Price: 0.7236\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/AUDUSD-3D-21112015.png\"><img class=\"aligncenter size-large wp-image-6838\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/AUDUSD-3D-21112015-1024x514.png\" alt=\"AUDUSD 3D 21112015\" width=\"1024\" height=\"514\" /></a>\r\n\r\n&nbsp;\r\n\r\nNZD/USD - Weekly Closing Price: 0.6568\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/NZDUSD-D-21112015.png\"><img class=\"aligncenter size-large wp-image-6835\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/NZDUSD-D-21112015-1024x514.png\" alt=\"NZDUSD D 21112015\" width=\"1024\" height=\"514\" /></a>\r\n\r\n&nbsp;\r\n\r\nUSD/CAD - Weekly Closing Price: 1.3345\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/USDCAD-D-21112015.png\"><img class=\"aligncenter size-large wp-image-6834\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/USDCAD-D-21112015-1024x514.png\" alt=\"USDCAD D 21112015\" width=\"1024\" height=\"514\" /></a>\r\n\r\n&nbsp;\r\n\r\nUSD/CHF - Weekly Closing Price: 1.0186\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/USDCHF-D-21112015.png\"><img class=\"aligncenter size-large wp-image-6833\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/USDCHF-D-21112015-1024x514.png\" alt=\"USDCHF D 21112015\" width=\"1024\" height=\"514\" /></a>\r\n\r\n&nbsp;\r\n\r\nUSD/JPY - Weekly Closing Price: 122.90\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/USDJPY-D-21112015.png\"><img class=\"aligncenter size-large wp-image-6832\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/USDJPY-D-21112015-1024x514.png\" alt=\"USDJPY D 21112015\" width=\"1024\" height=\"514\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n1.3: LOOKING SIDEWAYS (FOR GOOD MEASURE):\r\n\r\nAs mentioned recently, in this section of the blog, I will answer questions and look at various aspects of trading.\r\n\r\nI was asked last week by one of my subscribers, how do I manage with 10-15 live trades and sometimes up to the same number again with limit orders waiting to trigger, bearing in mind I can have multiple trades open with the same currency pair.\r\n\r\nMy initial answer was plenty of Jack Daniels or Knob Creek.\r\n\r\nMoving on…\r\n\r\nThe question emanated from last week\'s article in this section of the blog about divergent FUNDAMENTAL trades that I am now providing.\r\n\r\nI raised the issue with my subscribers, that if they traded all types of my trade set-ups, RADAR, FLASH and FUNDAMENTAL, given the fact that I expect the number of FUNDAMENTAL trades could reach 10-15 live with 5-10 limit orders waiting, would this just swamp their existing account? Maybe it would be a good idea to open a fresh broker account to handle just FUNDAMENTAL trades.\r\n\r\nPersonally, I trade several accounts to manage all my trade set-ups, and by doing this it makes accounting very manageable from my perspective.\r\n\r\nIf I have all my FUNDAMENTAL trades in one broker account, not only are my screens easier to follow, but more importantly, I do not need to look at trades to see are they FLASH or FUNDAMENTAL. In addition, it also gives me an instant measurement of performance. I have key objectives to achieve that I have set myself and separation gives me immediate clarification.\r\n\r\nI have three other broker accounts that contain my FLASH and RADAR trades broken down into two categories USD majors and the rest.\r\n\r\nBy doing this it allows me to concentrate on the FLASH trades, which are opportunist trades looking for 10-30 pips. Again through separation I can see the wood from the trees.\r\n\r\nRADAR trades based off limit order entries tend to have a longer life span and can therefore be left alone for a while as the price targets are usually between Fibonacci levels / Horizontal supports. As you know though, of late, all trades have required micro-management to some degree; as it has become a day traders market.\r\n\r\nTherefore, managing multiple trades is made much easier through segregation in my opinion. I have no super-power skills. This approach works for me and I find that it compliments my way of trading.\r\n\r\n&nbsp;\r\n\r\n<strong> </strong>\r\n<ol start=\"2\">\r\n	<li><strong> WHAT’S ON MY MIND:</strong></li>\r\n</ol>\r\n<p style=\"text-align: center;\"><strong>DRAGHI PULLS NO PUNCHES</strong></p>\r\nRegular followers of my blogs since 2012 will be aware that on numerous occasions I have called out the EUROZONE and ECB for basic incompetence, inept management, poor leadership, reactive policies and avoidance of management of specific problems.\r\n\r\nI do not think that the elected Eurozone leaders have done anything at all to change any of my long felt thoughts and beliefs about the way they leap from problem to problem not fixing anything, hoping the problem goes away or is fixed by someone else aka “kicking the can down the road”.\r\n\r\nBehind all of this Mario Draghi, I must admit not averse to a little “can kicking” himself from time to time, carries on trying to keep together another Eurozone blunder called the European Central Bank (ECB).\r\n\r\nThe ECB was designed when times were good, by Germany and France and never modeled to test multiple members pushing and pulling within the constraints of a currency union.\r\n\r\nThe Euro the official currency of the Eurozone, is used by 19 of the 28 member states: -\r\nAustria, Belgium, Cyprus, Estonia, Finland, France, Germany, Greece, Ireland, Italy, Latvia, Lithuania, Luxembourg, Malta, the Netherlands, Portugal, Slovakia, Slovenia, and Spain.\r\n\r\nThere are 19 countries with 19 different tax regimes, 19 different growth expectations based upon their industries and services, 19 different population sizes, ages and country by country differences of unemployment problems from youth to permanently unemployed, and the biggest issue of 19 different countries using effectively the same cheque-book with 19 completely different cultures.\r\n\r\nA recipe for disaster, if ever there was one.\r\n\r\nFor his sins, to get by Mario Draghi has to operate within a very tight mandate to manage a central bank. To add to the complexity of his job profile, beneath him lie 19 elected country finance ministers focused on their own country’s requirements and needs. Mario Draghi has to manage these individual countries from a distance, or I prefer from so high up where the air is thin, that it’s difficult to breathe and try to keep the ECB monetary policy fair to all member states. This he has to do whilst at the same doing what Germany says without it looking that way.\r\n\r\nWith this as my brief backdrop to the Eurozone and ECB you would not be surprised if Mario Draghi drank a bit and you would, well at least I would, cut him some slack.\r\n\r\nGod help him, he has the likes of Wolfgang Scheauble (German Finance Minister), Jens Weidmann (President of the Bundesbank), the guy responsible for all the German dosh and members of the ECB committee like Ewald Nowotny (President of the National Bank of Austria) all loving the sound of their own voices so much they love speaking to the media and undermine much of the good work that Mario Draghi is trying to lead through the ECB and Eurozone with ECB monetary policy. You can forgive Draghi the odd can-kick when you consider the environment he has to work within.\r\n\r\nAn objective of 2% inflation hangs like a ball and chain around Draghi’s neck. He is dealing with DEFLATION for almost two years, if not longer depending upon how you want to interpret statistics. No central banker in the history of the world has the cure for DEFLATION.\r\n\r\nIn an attempt to deflect away from the dreaded “D” word, many central bankers started by Ben Bernanke (Ex FED Chairman) started calling DEFLATION disinflation… yeah right that sounds better and not as tragic.\r\n\r\nIf a single country cannot cure DEFLATION - what chance does Draghi have with 19 countries rolled into 1? The answer = bugger all.\r\n\r\nInside the Eurozone since the financial crisis in 2008 there continues to be unprecedented levels of unemployment (in particular youth), failing social support (health, social and family benefits), lack of infrastructure investment, and most of the 19 countries have a reduced tax income due to massive unemployment and austerity measures which were pushed onto them that they could not afford. In addition, Greece was granted bailouts that have little chance of repayment. Add all of these together and they form the contents of the cauldron that the Eurozone witch Angela Merkel and her sidekick Wolfgang “the pit-bull” Schaeuble have concocted.\r\n\r\nMost of these issues should be dealt with and managed by local central governments but many of these with hands tied look to the ECB for assistance. I have often called Draghi, Angela Merkel’s puppet. I still believe to a large extent he is, but every now and then he comes out fighting and delivers a speech to make matters 100% clear without ambiguity. He made such a speech last Friday at the European Banking Congress in Frankfurt.\r\n\r\nFair play to Mario Draghi, with all of the issues that he has to deal with and manage, he has now left the markets in no uncertain terms about how the cookie is going to crumble. There is for once in the Eurozone no can kicking and no ambiguity, even the dumbest commentator or analyst are left without doubt.\r\n\r\nHere are the key points he referenced: -\r\n<ul>\r\n	<li>Inflation in the Eurozone is slipping fast.</li>\r\n	<li>There is too much slack in the Eurozone economy.</li>\r\n	<li>The effect of lower oil process is keeping inflation low.</li>\r\n	<li>He is looking to increase / expand the current €1.1 trillion QE program.</li>\r\n	<li>The ECB is thinking of moving the overnight deposit rate paid by the ECB further below zero in an attempt to force central banks to place more money into the economy.</li>\r\n	<li>Core inflation excluding energy and food is still too weak.</li>\r\n	<li>No real wage growth.</li>\r\n</ul>\r\nIt\'s a great read and a very sad reflection that since the financial crash of 2008, almost 8 years later following the German failed policy of austerity the Eurozone is still deep in the sh*t. Yes there are green shoots dotted about but in general it reflects a complete disaster of policy that has failed.\r\n\r\nDraghi will have QE for at least another two years in my opinion and then he has to taper.\r\n\r\nMerkel and the Pit-bull who have been against QE (they favour the f**k up called austerity) are probably more onside now given the VW scandal and the fact that exports are under pressure as a world slowdown is in play. The world is in slowdown mode, so who will the German manufacturers sell finished goods to if there are no buyers? At least if it is cheaper to buy German products due to lower exchange rates via QE polices the German exporters have a chance of selling in a depressed market.\r\n\r\nYup… central bank policy divergence is coming to a trade desk and computer screen near you very soon, in fact it has started.\r\n\r\nThe markets tried to bounce the oversold EUR/USD off 1.0630 lows after the FOMC meeting minutes were released. Even the grossly oversold at that point EUR/USD couldn’t bounce to more than 1.7050. After Draghi’s speech and the reality of what he had said resonated, it took a few hours to sink in, there is defiance in the markets, but when it finally sank in, the EUR/USD fell back to its lows once again below 1.0650.\r\n\r\n&nbsp;\r\n<ol start=\"3\">\r\n	<li><strong> THE PREMIUM SERVICE:</strong></li>\r\n</ol>\r\n3.1: SUMMARY OF YEAR TO DATE PERFORMANCE - 2015:\r\n<p style=\"text-align: center;\"><strong>PREMIUM SERVICE – COST INCOME ANALYSIS (USD):</strong></p>\r\n<p style=\"text-align: center;\">PROFITS FROM TRADES COMPLETED THIS YEAR – to November 21st 2015.</p>\r\n<p style=\"text-align: center;\">MICRO LOT TRADER - 641 trades cost to trade = $64.10\r\n<strong>PROFIT</strong> from 641 trades = <strong>$1,212.80\r\n</strong>(You spend $64.10 on trades and your gross return is $1,212.80)</p>\r\n<p style=\"text-align: center;\">MINI LOT TRADER - 641 trades cost to trade = $641.00\r\n<strong>PROFIT</strong> from 641 trades = <strong>$12,128.00\r\n</strong>(You spend $641.00 on trades and your gross return is $1,212.80)</p>\r\n<p style=\"text-align: center;\">STANDARD LOT TRADER - 641 trades cost to trade = $6,410.00\r\n<strong>PROFIT</strong> from 641 trades = <strong>$121,280.00\r\n</strong>(You spend $6,410.00 on trades and your gross return is $1,212.80)</p>\r\n<p style=\"text-align: center;\"><strong>The profit levels below are based on single lot trades only; obviously if you trade with two lots the returns double and so on…………</strong></p>\r\nNOTES:\r\n<ul>\r\n	<li>If the above return from Forex Trading interests you go to my website landing page at <a href=\"http://www.weeklyfxdrivethru.com\">weeklyfxdrivethru.com</a> and check out the subscription options and special promotions under the tabs “PREMIUM SERVICE” and “PROMOTIONS”</li>\r\n	<li>If you want more data about the performance and my website does not answer your questions, contact me directly and I will supply the data you require.</li>\r\n	<li>THE PREMIUM SERVICE has subscribers with broker accounts of sizes ranging from $2,500 to over $100,000. A profitable trade is a profitable trade. It is all about trading according to the size of your broker account with EFFECTIVE POSITION SIZING and applying RISK MANAGEMENT principles at all times</li>\r\n</ul>\r\n&nbsp;\r\n\r\n3.2: PREMIUM SERVICE – 2015 PERFORMANCE TO DATE:\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/PS-PROFITS1-21112015.png\"><img class=\"aligncenter size-full wp-image-6821\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/PS-PROFITS1-21112015.png\" alt=\"PS PROFITS1 21112015\" width=\"527\" height=\"419\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/PREM-SERV-PROFITS2-21112015.png\"><img class=\"aligncenter size-full wp-image-6822\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/PREM-SERV-PROFITS2-21112015.png\" alt=\"PREM SERV PROFITS2 21112015\" width=\"538\" height=\"416\" /></a>\r\n\r\n3.3: PREMIUM SERVICE – 2014 TOTAL PERFORMANCE:\r\n\r\n<strong> <a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/PS-PROFITS-2014.png\"><img class=\"aligncenter size-full wp-image-6791\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/PS-PROFITS-2014.png\" alt=\"PS PROFITS 2014\" width=\"529\" height=\"487\" /></a></strong>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n3.4: PREMIUM SERVICE – DIVERGENT FUNDAMENTAL TRADES:\r\n<p style=\"text-align: center;\"><strong>AT LAST AN OPTION FOR THE PART-TIME TRADER\r\n</strong><strong>HOWEVER\r\n</strong><strong>ALL TRADERS CAN OBVIOUSLY BENEFIT</strong></p>\r\nI have talked recently about central bank policy divergence and how this should bring a more directional market to Forex.\r\n\r\nI have in the past been using my FUNDAMENTAL trade style primarily for commodity cross-rate pairs and whilst this has been successful, I decided in Q3 2015 to look a little closer at my subscriber make–up and I discovered that I could do more for my subscribers who I class as part-time.\r\n\r\nPart-time from my perspective means: A trader who is unable to access their computer for whatever reason at will and who therefore only really has two or three times a day to check on trades.\r\n\r\nObviously many brokers (all of my recommended brokers with banners on my website included) offer iOS and Android options to keep you in touch with your trading progress, which is great but some occupations exclude this access as well during the day.\r\n\r\nDIVERGENT FUNDAMENTAL TRADES, I believe offer a great solution to trading for part-time traders as they are longer-term position style trades.\r\n\r\nI had been working on these trades since September only based on what conditions should be in 2016-2017. As time progresses and the reality of what is ahead has finally hit home, the trade results got stronger and stronger. So much so I launched this type of trade with my existing PREMIUM SERVICE subscribers on November 1<sup>st</sup>, with the view of a December lift-off after the FOMC and ECB meetings.\r\n\r\nThe results so far have amazed me, 1,441 pips in November from completed trades is the net result. (Profits were taken on core trades only after NFP)\r\n\r\nThe PREMIUM SERVICE this year so far is ahead of my 2014 performance. This year so far the net result on pips generated in total is 12,128. This involves total dedicated almost round the clock access to computer screens and minimal sleep to achieve the best entries and exits.\r\n\r\nNot everyone can live that lifestyle, or maybe wants to.\r\n\r\nI will be releasing a special blog on DIVERGENT FUNDAMENTAL TRADES very soon.\r\n\r\nThe blog will be published on my website <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a> it will be sent to all people who are subscribers to the FREE NEWSLETTER (to subscribe to the FREE NEWSLETTER go to my landing page on the right hand side about 50% down), and it will posted to several social media options.\r\n\r\nIf you want to read more about this - sign up on my website. A 5 minute read could generate $$$$ for you and your family.\r\n\r\n&nbsp;\r\n\r\n<strong> </strong>\r\n<ol start=\"4\">\r\n	<li><strong> PREMIUM SERVICE (GOLD) EXCLUSIVE CONTENT:</strong></li>\r\n</ol>\r\n(This area contains exclusive content for PREMIUM SERVICE (GOLD) subscribers)\r\n\r\n4.1: THE PREMIUM SERVICE – TRADING REVIEW:\r\n(A look back at the past week’s highs and lows from trades undertaken and a look around at other relevant subscriber information):\r\n\r\nThis has been a great month so far.\r\n\r\n65 closed trades so far this month and with the markets giving us an inkling of what divergence can give us, we generated and banked some healthy profits.\r\n\r\nBoth RADAR and FLASH trade were solid in the past week and I am really pleased with the progress being made with the profit / loss ratios. Month on month these have been improving from Q1 and Q2 earlier this year with all the shenanigans going on with squeezes etc.\r\n\r\nOne point of note, the PREMIUM SERVICE total incomes for 2015 are now ahead of 2014, this is great news and frankly given the start to 2015 one which, I did not expect. Just to remind you that the WEEKLY FX DRIVE THRU blog finishes for the Christmas holidays soon, although I will still be managing trades through the break into 2016 and I expect to still be fairly active on twitter also as trades develop.\r\n\r\nLooking into this week. As already stated this is a strange week, it is neither one thing nor another with the Thanksgiving holiday in the U.S. I think that with all the vacations planned around the weekend from Tuesday lunchtime this week until Tuesday next week it will be very quiet in the North American session, and, if last year is repeated the big European players will stay out of the markets as well. All in all, I think it will be a thin trading week.\r\n\r\nMy plans are simple.\r\n\r\nAll I want to do Monday probably in the European session is add in RADAR trades based around AUD/NZD, AUD/CHF, GBP/CHF and layer in multiple trades surrounding the EUR/USD and USD/CHF. (I have placed trading charts around these set-ups later in the blog.\r\n\r\n&nbsp;\r\n\r\n4.2: THE DIVERGENT CB MONETARY POLICY – FUNDAMENTAL TRADES:\r\n\r\nWow… 1,441 pips of profit from these divergent trades so far.\r\n\r\nWe ended last week with 6 open trades, with a net -25 pips or so recorded.\r\n\r\nFor this week I am looking to layer in additional EUR/USD and USD/CHF trades as well as AUD/NZD and AUD/CHF trades.\r\n\r\nI will soon start a marketing campaign involving these divergent trades and how they are ideal for part-time Forex traders to follow.\r\n\r\n&nbsp;\r\n\r\n4.3: CHANGES TO MY PREFERRED FX BROKER LINEUP:\r\n\r\nMy new broker relationships to be advertised on my DRIVE THRU website, Hantec Markets and Vantage FX, will both soon have their banners on the website landing page along with my existing three FX brokers, Blackwell Global, AvaTrade and FX Pro.\r\n\r\nIf anyone would like to open an additional trading account prior to the banners being launched from these new brokers just contact me.\r\n\r\n&nbsp;\r\n\r\n4.4: REVISIONS TO TRADE STYLE DEFINITIONS:\r\n\r\nAs I am now adding what I hope to be longer-term trades based upon “Divergent Central bank Policy” to the PREMIUM SERVICE, I think it is time to re-address the trade styles.\r\n\r\nA couple of you wanted to add a 4<sup>th</sup> trade style to cover these new trades. Instead of doing this I think its easier just to simplify what is there at the moment as follows: -\r\n\r\nFLASH TRADES:\r\nOpportunist trades in LIVE market conditions. These trades are either based off a pullback strategy, a GIMME10 strategy, or off momentum in a trading pair at the time of entry.\r\nThe goal is to either take 10-30 pips or see a sufficient move to place a protective stop in place to see if a swing trade develops.\r\nSome FLASH TRADES may form part of an overall trading plan with a given currency pair, but the entry could not be made via a LIMIT ORDER.\r\n\r\nRADAR TRADES:\r\nThese a pre-meditated entry trades set from either Fibonacci levels, pivot points or previous support and resistance based off a combination of horizontal or trend line support or resistance.\r\nThe goal is always if possible to swing trade these trades by establishing a position that if market conditions apply allow the trade to gather traction and develop into a longer-term position trade.\r\n\r\nFUNDAMENTAL TRADES:\r\nThese will be trades based off my TRADING PLAN goals for trades in line with my longer-term market views.\r\nTrades in this area will use in addition Fibonacci levels, Pivot points, trend lines and prior support and resistance levels, weekly and monthly ATR’s (Average True Ranges) when setting Stop Loss levels.\r\nThese trades are hopefully of a longer-term nature. They will be initially “single-lot” sized trades due to the wider stop placements that will be applied.\r\n\r\n&nbsp;\r\n\r\n4.5: MAJOR TRADING PAIRS WITH LONGER-TERM MATCHING TRENDS:\r\n(The following currency pairs have Short Term (DAILY), Medium Term (WEEKLY) and Long Term (MONTHLY) charts all trending in the same direction).\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/TRENDING-PAIRS-21112015.png\"><img class=\"aligncenter size-full wp-image-6831\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/TRENDING-PAIRS-21112015.png\" alt=\"TRENDING PAIRS 21112015\" width=\"477\" height=\"616\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n4.6: THE PREMIUM SERVICE - LIVE TRADES ARE:\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/LIVE-TRADES-21112015.png\"><img class=\"aligncenter size-full wp-image-6830\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/LIVE-TRADES-21112015.png\" alt=\"LIVE TRADES 21112015\" width=\"701\" height=\"550\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n4.7: THE PREMIUM SERVICE – LIMIT ORDER TRADES ARE:\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/LIMIT-ORDERS-21112015.png\"><img class=\"aligncenter size-full wp-image-6829\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/LIMIT-ORDERS-21112015.png\" alt=\"LIMIT ORDERS 21112015\" width=\"689\" height=\"435\" /></a>\r\n\r\n&nbsp;\r\n\r\n4.8: POTENTIAL TRADES - WHAT PAIRS / CHARTS AM I LOOKING AT:\r\n\r\nMy thoughts and comments are contained on the charts.\r\n\r\n<strong> <a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/AUDCHF-DAILY-21112015.png\"><img class=\"aligncenter size-large wp-image-6841\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/AUDCHF-DAILY-21112015-1024x514.png\" alt=\"AUDCHF DAILY 21112015\" width=\"1024\" height=\"514\" /></a></strong>\r\n\r\n<strong> </strong>\r\n\r\n<strong><a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/AUDNZD-240M-21112015.png\"><img class=\"aligncenter size-large wp-image-6840\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/AUDNZD-240M-21112015-1024x514.png\" alt=\"AUDNZD 240M 21112015\" width=\"1024\" height=\"514\" /></a> </strong>\r\n\r\n<strong> <a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/GBPCHF-M-21112015.png\"><img class=\"aligncenter size-large wp-image-6839\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/GBPCHF-M-21112015-1024x514.png\" alt=\"GBPCHF M 21112015\" width=\"1024\" height=\"514\" /></a></strong>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n<ol start=\"5\">\r\n	<li><strong> MY FINAL THOUGHTS:</strong></li>\r\n</ol>\r\nOVERVIEW OF TRADING TIPS &amp; THOUGHTS FOR THE WEEK AHEAD:\r\n\r\nThis will be a strange week.\r\n\r\nWe have a FED announcement on Monday that could be a pre-cursor to the rate hike next month. This week could be the week that sets the tone for the next two years. Mario Draghi has already played his hand, it is just a case of how much more and until when with regards to QE in the Eurozone.\r\n\r\nI am expecting very thin markets this coming week so I would trade smaller to allow for increased volatility.\r\n\r\nAs usual trade within your means, use your TRADE PLAN manage RISK with correct POSITION SIZING and STOP PLACEMENT.\r\n\r\nLongevity in trading is paramount to success. Success in trading is based mainly trading high probability trades with your RISKS MANAGED.\r\n\r\n&nbsp;\r\n\r\nTake care,\r\n\r\nScott Pickering\r\nThe Pip Accumulator\r\nhttps://weeklyfxdrivethru.com/disclaimer/\r\nBLOG #82\r\n\r\n&nbsp;','DRAGHI PULLS NO PUNCHES','','inherit','closed','closed','','6847-revision-v1','','','2015-11-21 14:51:52','2015-11-21 19:51:52','',6847,'https://weeklyfxdrivethru.com/6847-revision-v1/',0,'revision','',0),(6850,1,'2015-11-21 15:16:50','2015-11-21 20:16:50','<p style=\"text-align: center;\"><strong>THE PREMIUM SERVICE</strong>\r\n<strong>from the</strong>\r\n<strong>WEEKLY FX DRIVE THRU</strong>\r\n<strong>“The Home of Single Lot Trading”</strong></p>\r\n<p style=\"text-align: center;\"><strong> </strong></p>\r\n\r\n<ol>\r\n	<li><strong> THE FX MARKET PLACE:</strong></li>\r\n</ol>\r\nLOOKING BACKWARDS, FORWARDS &amp; SIDEWAYS (FOR GOOD MEASURE) AT THE FX MARKET:\r\n\r\n1.1: LOOKING BACKWARDS:\r\n\r\nWhat a strange week we had last week, it seemed to just drift by, we had news, some of which gave a predictable market response, the rest did nothing really and we seemed to just plod along. Personally, I found it a little weird; I just cannot put my finger directly on the issue for some reason.\r\n\r\nNot to worry, moving on…\r\n\r\nWe had the FOMC minutes released from the last meeting. I think that I have fallen into the trap of powering down 24-36 hours ahead of data releases. The markets seem to go on hold eagerly awaiting any snippet of news from the FED to dissect, and to scrutinize every vowel, consonant and exclamation mark that is forthcoming. I am falling into the same pattern. I schedule myself around the FED announcements and psychologically I am probably disciplined subconsciously not to even think of trading 24-36 hours ahead of any announcement.\r\n\r\nThe FOMC minutes were so-so. You could argue both dovish and bearish. I think the fact that the dovish members of the committee were talking about the language to be used when talking about interest rates, tells me that the hawks are in control and that a hike is looming barring any catastrophes. Not that it could ever be that cut and dried but those are my thoughts.\r\n\r\nOn the other hand, Mario Draghi comes out pulling no punches at all. He spoke on both Monday and Friday last week, if you thought he was acting on Monday, on Friday it was the real deal. My main article this week is about the ECB, so I shall refrain from commenting further in this section.\r\n\r\nOther news of interest last week:\r\n<ul>\r\n	<li>The BOJ announced no more Quantitative easing (QE)…. for now.</li>\r\n	<li>The Australian monetary policy meeting minutes were neutral.</li>\r\n	<li>The GDT dairy prices were lower.</li>\r\n	<li>U.S. CPi data was in line.</li>\r\n	<li>Oil prices once again came under real pressure, as it appears storage is once again an issue, plus the rules of basic supply and demand are back in play.</li>\r\n	<li>Metal prices were hit really hard in the middle of the week and by the end of the week were attempting a bounce.</li>\r\n</ul>\r\nI think the continual state of flux hanging over the markets surrounding the FED rate hike is starting to have an effect. The reality of a rate hike is starting to resonate more with the markets in general and as a result trading volumes are reducing creating thinner markets with jumpy chop-chop moves.\r\n\r\nJust remember the dates below that I had in last week’s blog.\r\n\r\n&nbsp;\r\n<p style=\"text-align: center;\"><em>3<sup>rd</sup> December 2015: ECB meeting in Frankfurt with press conference.</em></p>\r\n<p style=\"text-align: center;\"><em>16<sup>th</sup> December 2015: FOMC meeting with press conference.</em></p>\r\n<p style=\"text-align: center;\"><em>At these meetings I am expecting: - </em></p>\r\n<p style=\"text-align: center;\"><em>ECB:</em></p>\r\n<p style=\"text-align: center;\"><em>Confirmation of more Quantitative Easing (QE) to be added to the existing program. </em></p>\r\n<p style=\"text-align: center;\"><em>A formal announcement of an extension of the existing program beyond September 2016. </em></p>\r\n<p style=\"text-align: center;\"><em>Details of an extension to the types of bonds to be purchased.</em></p>\r\n<p style=\"text-align: center;\"><em>A revision to the overnight deposit rate for central banks within the Eurozone.</em></p>\r\n<p style=\"text-align: center;\"><em>Revisions of Eurozone growth targets to lower levels for 2016-2017. </em></p>\r\n<p style=\"text-align: center;\"><em>FOMC:</em></p>\r\n<p style=\"text-align: center;\"><em>Confirmation of an initial rate increase, probably 0.25%.</em></p>\r\n<p style=\"text-align: center;\"><em>Details from the economic projections “the dots” will be amended.</em></p>\r\n<p style=\"text-align: center;\"><em>Information regarding when future rate increases could be introduced. </em></p>\r\n<p style=\"text-align: center;\"><em>A revision of 2016-2017 growth objectives.</em></p>\r\nIn addition to the above dates it was announced on Friday November 19th that the FED would make a special announcement on Monday the 23rd. I think the last times they did this type of announcement was in 2012.\r\n\r\nWe could be raising rates in November and NOT December, but the announcement could be something else, nothing to do with interest rates. However a quick meeting arranged and an announcement the same day, it sounds like preparing the statement that\'s all.\r\n\r\nPerhaps, the most likely reason for a FED announcement is more to do with the “Discount Rate” and only the “Discount Rate”, but wouldn’t it be something if they pulled the trigger now and did not wait. Why wait to raise rates if the conditions are right now?\r\n\r\n<em>The discount rate is the interest rate charged to commercial banks and other depository institutions on loans they receive from their regional Federal Reserve Bank\'s lending facility - the discount window. </em><em>www.federalreserve.gov/monetary policy/discountrate.htm</em>\r\n\r\n<em>It is rather a misleading term. The discount rate is the rate above the FED funds rate that banks and large institutions use. It is currently 0.75% above what is now refereed to as zirp! </em>\r\n\r\nIf the FED moves/amends the “Discount Rate”, this could be seen as a market mover, in my opinion, this all but confirms a December rate hike, but as stated earlier would the FOMC consider both on the same day?\r\n\r\nThis is some real food for thought.\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n1.2: LOOKING FORWARD:\r\n\r\nMAJOR FOREX NEWS THIS WEEK THAT INTERESTS ME:\r\n\r\n(There are many more news items related to the Forex Market other than the ones listed below. These are the ones that interest me. You can go to <a href=\"http://www.forexfactory.com\">www.forexfactory.com</a> and <a href=\"http://www.tradingeconomics.com\">www.tradingeconomics.com</a> for a more comprehensive lists of all news events that are Forex related).\r\nSUNDAY: N/A.\r\n\r\nMONDAY: EUR – French and German Flash Manufacturing PMi.\r\nMONDAY: USD – FED ANNOUNCEMENT.\r\n\r\nTUESDAY: AUD – Words of wisdom from Glenn Stevens (RBA) .\r\nTUESDAY: USD – GDP and Consumer Confidence.\r\n\r\nWEDNESDAY: NZD – Trade Balance.\r\n\r\nTHURSDAY: N/A.\r\n\r\nFRIDAY: N/A.\r\n\r\n&nbsp;\r\n\r\nMY THOUGHTS ON THE NEWS ITEMS THIS COMING WEEK:\r\n\r\nI am pre-occupied with the FED announcement on Monday. The meeting was hastily arranged last Thursday.\r\n\r\nAs I said it is probably the amendment of the “Discount Rate” but you never know.\r\n\r\nIt is a very light week on news, we also have the U.S. Thanksgiving holiday, which falls on Thursday. However, as you may know we have Black Friday sales, Cyber Monday the following week and basically people in the U.S. make longer weekends out these days. There are so many people driving and flying around we literally start to shut down from around lunchtime Tuesday for the week.\r\n\r\nI plan to complete my 2016 TRADE and MARKETING PLAN this week, whilst it’s quiet. About 3 years ago, I found myself caught up in a couple of trades that caused real pain to my broker account at this time.\r\n\r\nTherefore, in the words of the song by Ian Hunter “Once bitten twice shy”. I will be very light with regards to trading.\r\n\r\n&nbsp;\r\n\r\nMY KEY SUPPORT &amp; RESISTANCE LEVELS THIS WEEK FOR USD MAJORS<strong>:</strong>\r\n\r\nIn this section I have as usual kept my charts as minimalist as possible. All readers regardless of level of experience should be able to follow my thoughts from my comments to the levels on the charts with ease.\r\n\r\nAll of my thoughts, ideas and relevant comments are contained on the charts.\r\n\r\n&nbsp;\r\n\r\nEUR/USD - Weekly Closing Price: 1.646\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/EURUSD-M-21112015.png\"><img class=\"aligncenter size-large wp-image-6837\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/EURUSD-M-21112015-1024x514.png\" alt=\"EURUSD M 21112015\" width=\"1024\" height=\"514\" /></a>\r\n\r\n&nbsp;\r\n\r\nGBP/USD - Weekly Closing Price: 1.5193\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/GBPUSD-D-21112015.png\"><img class=\"aligncenter size-large wp-image-6836\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/GBPUSD-D-21112015-1024x514.png\" alt=\"GBPUSD D 21112015\" width=\"1024\" height=\"514\" /></a>\r\n\r\n&nbsp;\r\n\r\nAUD/USD - Weekly Closing Price: 0.7236\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/AUDUSD-3D-21112015.png\"><img class=\"aligncenter size-large wp-image-6838\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/AUDUSD-3D-21112015-1024x514.png\" alt=\"AUDUSD 3D 21112015\" width=\"1024\" height=\"514\" /></a>\r\n\r\n&nbsp;\r\n\r\nNZD/USD - Weekly Closing Price: 0.6568\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/NZDUSD-D-21112015.png\"><img class=\"aligncenter size-large wp-image-6835\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/NZDUSD-D-21112015-1024x514.png\" alt=\"NZDUSD D 21112015\" width=\"1024\" height=\"514\" /></a>\r\n\r\n&nbsp;\r\n\r\nUSD/CAD - Weekly Closing Price: 1.3345\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/USDCAD-D-21112015.png\"><img class=\"aligncenter size-large wp-image-6834\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/USDCAD-D-21112015-1024x514.png\" alt=\"USDCAD D 21112015\" width=\"1024\" height=\"514\" /></a>\r\n\r\n&nbsp;\r\n\r\nUSD/CHF - Weekly Closing Price: 1.0186\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/USDCHF-D-21112015.png\"><img class=\"aligncenter size-large wp-image-6833\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/USDCHF-D-21112015-1024x514.png\" alt=\"USDCHF D 21112015\" width=\"1024\" height=\"514\" /></a>\r\n\r\n&nbsp;\r\n\r\nUSD/JPY - Weekly Closing Price: 122.90\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/USDJPY-D-21112015.png\"><img class=\"aligncenter size-large wp-image-6832\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/USDJPY-D-21112015-1024x514.png\" alt=\"USDJPY D 21112015\" width=\"1024\" height=\"514\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n1.3: LOOKING SIDEWAYS (FOR GOOD MEASURE):\r\n\r\nAs mentioned recently, in this section of the blog, I will answer questions and look at various aspects of trading.\r\n\r\nI was asked last week by one of my subscribers, how do I manage with 10-15 live trades and sometimes up to the same number again with limit orders waiting to trigger, bearing in mind I can have multiple trades open with the same currency pair.\r\n\r\nMy initial answer was plenty of Jack Daniels or Knob Creek.\r\n\r\nMoving on…\r\n\r\nThe question emanated from last weeks article in this section of the blog about divergent FUNDAMENTAL trades that I am now providing.\r\n\r\nI raised the issue with my subscribers, that if they traded all types of my trade set-ups, RADAR, FLASH and FUNDAMENTAL, given the fact that I expect the number of FUNDAMENTAL trades could reach 10-15 live with 5-10 limit orders waiting, would this just swamp their existing account? Maybe it would be a good idea to open a fresh broker account to handle just FUNDAMENTAL trades.\r\n\r\nPersonally, I trade several accounts to manage all my trade set-ups, and by doing this it makes accounting very manageable from my perspective.\r\n\r\nIf I have all my FUNDAMENTAL trades in one broker account, not only are my screens easier to follow, but more importantly, I do not need to look at trades to see are they FLASH or FUNDAMENTAL. In addition it also gives me an instant measurement of performance. I have key objectives to achieve that I have set myself and separation gives me immediate clarification.\r\n\r\nI have three other broker accounts that contain my FLASH and RADAR trades broken down into two categories USD majors and the rest.\r\n\r\nBy doing this it allows me to concentrate on the FLASH trades, which are opportunist trades looking for 10-30 pips. Again through separation I can see the wood from the trees.\r\n\r\nRADAR trades based off limit order entries tend to have a longer life span and can therefore be left alone for a while as the price targets are usually between Fibonacci levels / Horizontal supports. As you know though, of late, all trades have required micro-management to some degree; as it has become a day traders market.\r\n\r\nTherefore, managing multiple trades is made much easier through segregation in my opinion. I have no super-power skills. This approach works for me and I find that it compliments my way of trading.\r\n\r\n&nbsp;\r\n\r\n<strong> </strong>\r\n<ol start=\"2\">\r\n	<li><strong> WHAT’S ON MY MIND:</strong></li>\r\n</ol>\r\n<p style=\"text-align: center;\"><strong>DRAGHI PULLS NO PUNCHES</strong></p>\r\nRegular followers of my blogs since 2012 will be aware that on numerous occasions I have called out the EUROZONE and ECB for basic incompetence, inept management, poor leadership, reactive policies and avoidance of management of specific problems.\r\n\r\nI do not think that the elected Eurozone leaders have done anything at all to change any of my long felt thoughts and beliefs about the way they leap from problem to problem not fixing anything, hoping the problem goes away or is fixed by someone else aka “kicking the can down the road”.\r\n\r\nBehind all of this Mario Draghi, I must admit not averse to a little “can kicking” himself from time to time, carries on trying to keep together another Eurozone blunder called the European Central Bank (ECB).\r\n\r\nThe ECB was designed when times were good, by Germany and France and never modeled to test multiple members pushing and pulling within the constraints of a currency union.\r\n\r\nThe Euro the official currency of the Eurozone, is used by 19 of the 28 member states: -\r\nAustria, Belgium, Cyprus, Estonia, Finland, France, Germany, Greece, Ireland, Italy, Latvia, Lithuania, Luxembourg, Malta, the Netherlands, Portugal, Slovakia, Slovenia, and Spain.\r\n\r\nThere are 19 countries with 19 different tax regimes, 19 different growth expectations based upon their industries and services, 19 different population sizes, ages and country by country differences of unemployment problems from youth to permanently unemployed, and the biggest issue of 19 different countries using effectively the same cheque-book with 19 completely different cultures.\r\n\r\nA recipe for disaster, if ever there was one.\r\n\r\nFor his sins, to get by Mario Draghi has to operate within a very tight mandate to manage a central bank. To add to the complexity of his job profile, beneath him lie 19 elected country finance ministers focused on their own country’s requirements and needs. Mario Draghi has to manage these individual countries from a distance, or I prefer from so high up where the air is thin, that it’s difficult to breathe and try to keep the ECB monetary policy fair to all member states. This he has to do whilst at the same doing what Germany says without it looking that way.\r\n\r\nWith this as my brief backdrop to the Eurozone and ECB you would not be surprised if Mario Draghi drank a bit and you would, well at least I would, cut him some slack.\r\n\r\nGod help him, he has the likes of Wolfgang Scheauble (German Finance Minister), Jens Weidmann (President of the Bundesbank), the guy responsible for all the German dosh and members of the ECB committee like Ewald Nowotny (President of the National Bank of Austria) all loving the sound of their own voices so much they love speaking to the media and undermine much of the good work that Mario Draghi is trying to lead through the ECB and Eurozone with ECB monetary policy. You can forgive Draghi the odd can-kick when you consider the environment he has to work within.\r\n\r\nAn objective of 2% inflation hangs like a ball and chain around Draghi’s neck. He is dealing with DEFLATION for almost two years, if not longer depending upon how you want to interpret statistics. No central banker in the history of the world has the cure for DEFLATION.\r\n\r\nIn an attempt to deflect away from the dreaded “D” word, many central bankers started by Ben Bernanke (Ex FED Chairman) started calling DEFLATION disinflation… yeah right that sounds better and not as tragic.\r\n\r\nIf a single country cannot cure DEFLATION - what chance does Draghi have with 19 countries rolled into 1? The answer = bugger all.\r\n\r\nInside the Eurozone since the financial crisis in 2008 there continues to be unprecedented levels of unemployment (in particular youth), failing social support (health, social and family benefits), lack of infrastructure investment, and most of the 19 countries have a reduced tax income due to massive unemployment and austerity measures which were pushed onto them that they could not afford. In addition, Greece was granted bailouts that have little chance of repayment. Add all of these together and they form the contents of the cauldron that the Eurozone witch Angela Merkel and her sidekick Wolfgang “the pit-bull” Schaeuble have concocted.\r\n\r\nMost of these issues should be dealt with and managed by local central governments but many of these with hands tied look to the ECB for assistance. I have often called Draghi, Angela Merkel’s puppet. I still believe to a large extent he is, but every now and then he comes out fighting and delivers a speech to make matters 100% clear without ambiguity. He made such a speech last Friday at the European Banking Congress in Frankfurt.\r\n\r\nFair play to Mario Draghi, with all of the issues that he has to deal with and manage, he has now left the markets in no uncertain terms about how the cookie is going to crumble. There is for once in the Eurozone no can kicking and no ambiguity, even the dumbest commentator or analyst are left without doubt.\r\n\r\nHere are the key points he referenced: -\r\n<ul>\r\n	<li>Inflation in the Eurozone is slipping fast.</li>\r\n	<li>There is too much slack in the Eurozone economy.</li>\r\n	<li>The effect of lower oil process is keeping inflation low.</li>\r\n	<li>He is looking to increase / expand the current €1.1 trillion QE program.</li>\r\n	<li>The ECB is thinking of moving the overnight deposit rate paid by the ECB further below zero in an attempt to force central banks to place more money into the economy.</li>\r\n	<li>Core inflation excluding energy and food is still too weak.</li>\r\n	<li>No real wage growth.</li>\r\n</ul>\r\nIt\'s a great read and a very sad reflection that since the financial crash of 2008, almost 8 years later following the German failed policy of austerity the Eurozone is still deep in the sh*t. Yes there are green shoots dotted about but in general it reflects a complete disaster of policy that has failed.\r\n\r\nDraghi will have QE for at least another two years in my opinion and then he has to taper.\r\n\r\nMerkel and the Pit-bull who have been against QE (they favour the f**k up called austerity) are probably more onside now given the VW scandal and the fact that exports are under pressure as a world slowdown is in play. The world is in slowdown mode, so who will the German manufacturers sell finished goods to if there are no buyers? At least if it is cheaper to buy German products due to lower exchange rates via QE polices the German exporters have a chance of selling in a depressed market.\r\n\r\nYup… central bank policy divergence is coming to a trade desk and computer screen near you very soon, in fact it has started.\r\n\r\nThe markets tried to bounce the oversold EUR/USD off 1.0630 lows after the FOMC meeting minutes were released. Even the grossly oversold at that point EUR/USD couldn’t bounce to more than 1.7050. After Draghi’s speech and the reality of what he had said resonated, it took a few hours to sink in, there is defiance in the markets, but when it finally sank in, the EUR/USD fell back to its lows once again below 1.0650.\r\n\r\n<strong> </strong>\r\n<ol start=\"3\">\r\n	<li><strong> THE PREMIUM SERVICE:</strong></li>\r\n</ol>\r\n3.1: SUMMARY OF YEAR TO DATE PERFORMANCE - 2015:\r\n<p style=\"text-align: center;\">PREMIUM SERVICE – COST INCOME ANALYSIS (USD):\r\nPROFITS FROM TRADES COMPLETED THIS YEAR – to November 21st 2015.</p>\r\n<p style=\"text-align: center;\">MICRO LOT TRADER - 641 trades cost to trade = $64.10\r\n<strong>PROFIT</strong> from 641 trades = <strong>$1,212.80\r\n</strong>(You spend $64.10 on trades and your gross return is $1,212.80)</p>\r\n<p style=\"text-align: center;\">MINI LOT TRADER - 641 trades cost to trade = $641.00\r\n<strong>PROFIT</strong> from 641 trades = <strong>$12,128.00\r\n</strong>(You spend $641.00 on trades and your gross return is $1,212.80)</p>\r\n<p style=\"text-align: center;\">STANDARD LOT TRADER - 641 trades cost to trade = $6,410.00\r\n<strong>PROFIT</strong> from 641 trades = <strong>$121,280.00\r\n</strong>(You spend $6,410.00 on trades and your gross return is $1,212.80)</p>\r\n<p style=\"text-align: center;\"><strong>The profit levels below are based on single lot trades only; obviously if you trade with two lots the returns double and so on…………</strong></p>\r\nNOTES:\r\n<ul>\r\n	<li>If the above return from Forex Trading interests you go to my website landing page at <a href=\"http://www.weeklyfxdrivethru.com\">weeklyfxdrivethru.com</a> and check out the subscription options and special promotions under the tabs “PREMIUM SERVICE” and “PROMOTIONS”</li>\r\n	<li>If you want more data about the performance and my website does not answer your questions, contact me directly and I will supply the data you require.</li>\r\n	<li>THE PREMIUM SERVICE has subscribers with broker accounts of sizes ranging from $2,500 to over $100,000. A profitable trade is a profitable trade. It is all about trading according to the size of your broker account with EFFECTIVE POSITION SIZING and applying RISK MANAGEMENT principles at all times</li>\r\n</ul>\r\n&nbsp;\r\n\r\n3.2: PREMIUM SERVICE – 2015 PERFORMANCE TO DATE:\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/PS-PROFITS1-21112015.png\"><img class=\"aligncenter size-full wp-image-6821\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/PS-PROFITS1-21112015.png\" alt=\"PS PROFITS1 21112015\" width=\"527\" height=\"419\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/PREM-SERV-PROFITS2-21112015.png\"><img class=\"aligncenter size-full wp-image-6822\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/PREM-SERV-PROFITS2-21112015.png\" alt=\"PREM SERV PROFITS2 21112015\" width=\"538\" height=\"416\" /></a>\r\n\r\n3.3: PREMIUM SERVICE – 2014 TOTAL PERFORMANCE:\r\n\r\n<strong> <a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/PS-PROFITS-2014.png\"><img class=\"aligncenter size-full wp-image-6791\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/PS-PROFITS-2014.png\" alt=\"PS PROFITS 2014\" width=\"529\" height=\"487\" /></a></strong>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n3.4: PREMIUM SERVICE – DIVERGENT FUNDAMENTAL TRADES:\r\n\r\n&nbsp;\r\n<p style=\"text-align: center;\"><strong>AT LAST AN OPTION FOR THE PART-TIME TRADER\r\n</strong><strong>HOWEVER\r\n</strong><strong>ALL TRADERS CAN OBVIOUSLY BENEFIT</strong></p>\r\nI have talked recently about central bank policy divergence and how this should bring a more directional market to Forex.\r\n\r\nI have in the past been using my FUNDAMENTAL trade style primarily for commodity cross-rate pairs and whilst this has been successful, I decided in Q3 2015 to look a little closer at my subscriber make–up and I discovered that I could do more for my subscribers who I class as part-time.\r\n\r\nPart-time from my perspective means: A trader who is unable to access their computer for whatever reason at will and who therefore only really has two or three times a day to check on trades.\r\n\r\nObviously many brokers (all of my recommended brokers with banners on my website included) offer iOS and Android options to keep you in touch with your trading progress, which is great but some occupations exclude this access as well during the day.\r\n\r\nDIVERGENT FUNDAMENTAL TRADES, I believe offer a great solution to trading for part-time traders as they are longer-term position style trades.\r\n\r\nI had been working on these trades since September only based on what conditions should be in 2016-2017. As time progresses and the reality of what is ahead has finally hit home, the trade results got stronger and stronger. So much so I launched this type of trade with my existing PREMIUM SERVICE subscribers on November 1<sup>st</sup>, with the view of a December lift-off after the FOMC and ECB meetings.\r\n\r\nThe results so far have amazed me, 1,441 pips in November from completed trades is the net result. (Profits were taken on core trades only after NFP)\r\n\r\nThe PREMIUM SERVICE this year so far is ahead of my 2014 performance. This year so far the net result on pips generated in total is 12,128. This involves total dedicated almost round the clock access to computer screens and minimal sleep to achieve the best entries and exits.\r\n\r\nNot everyone can live that lifestyle, or maybe wants to.\r\n\r\nI will be releasing a special blog on DIVERGENT FUNDAMENTAL TRADES very soon.\r\n\r\nThe blog will be published on my website <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a> it will be sent to all people who are subscribers to the FREE NEWSLETTER (to subscribe to the FREE NEWSLETTER go to my landing page on the right hand side about 50% down), and it will posted to several social media options.\r\n\r\nIf you want to read more about this - sign up on my website. A 5 minute read could generate $$$$ for you and your family.\r\n\r\n&nbsp;\r\n\r\n<strong> </strong>\r\n<ol start=\"4\">\r\n	<li><strong> PREMIUM SERVICE (GOLD) EXCLUSIVE CONTENT:</strong></li>\r\n</ol>\r\n(This area contains exclusive content for PREMIUM SERVICE (GOLD) subscribers)\r\n\r\n4.1: THE PREMIUM SERVICE – TRADING REVIEW:\r\n\r\n4.2: THE DIVERGENT CB MONETARY POLICY – FUNDAMENTAL TRADES:\r\n\r\n4.3: CHANGES TO MY PREFERRED FX BROKER LINEUP:\r\n\r\n4.4: REVISIONS TO TRADE STYLE DEFINITIONS:\r\n\r\n4.5: MAJOR TRADING PAIRS WITH LONGER-TERM MATCHING TRENDS:\r\n\r\n4.6: THE PREMIUM SERVICE - LIVE TRADES ARE:\r\n\r\n4.7: THE PREMIUM SERVICE – LIMIT ORDER TRADES ARE:\r\n\r\n4.8: POTENTIAL TRADES - WHAT PAIRS / CHARTS AM I LOOKING AT?\r\n\r\n<strong> </strong>\r\n\r\n<strong> </strong>\r\n<ol start=\"5\">\r\n	<li><strong> MY FINAL THOUGHTS:</strong></li>\r\n</ol>\r\nOVERVIEW OF TRADING TIPS &amp; THOUGHTS FOR THE WEEK AHEAD:\r\n\r\nThis will be a strange week.\r\n\r\nWe have a FED announcement on Monday that could be a pre-cursor to the rate hike next month. This week could be the week that sets the tone for the next two years. Mario Draghi has already played his hand, it is just a case of how much more and until when with regards to QE in the Eurozone.\r\n\r\nI am expecting very thin markets this coming week so I would trade smaller to allow for increased volatility.\r\n\r\nAs usual trade within your means, use your TRADE PLAN manage RISK with correct POSITION SIZING and STOP PLACEMENT.\r\n\r\nLongevity in trading is paramount to success. Success in trading is based mainly trading high probability trades with your RISKS MANAGED.\r\n\r\n&nbsp;\r\n\r\nTake care,\r\n\r\nScott Pickering\r\nThe Pip Accumulator\r\n<a href=\"https://weeklyfxdrivethru.com/disclaimer/\">https://weeklyfxdrivethru.com/disclaimer/\r\n</a>BLOG #178\r\n\r\n&nbsp;\r\n\r\n<strong><u> </u></strong>','DRAGHI PULLS NO PUNCHES','','publish','open','closed','','draghi-pulls-no-punches','','','2015-11-21 18:02:02','2015-11-21 23:02:02','',0,'https://weeklyfxdrivethru.com/?p=6850',0,'post','',0);
INSERT INTO `vp_backup_wp_posts` VALUES (6852,1,'2015-11-21 15:16:50','2015-11-21 20:16:50','<p style=\"text-align: center;\"><strong>THE PREMIUM SERVICE</strong>\r\n<strong>from the</strong>\r\n<strong>WEEKLY FX DRIVE THRU</strong>\r\n<strong>“The Home of Single Lot Trading”</strong></p>\r\n<p style=\"text-align: center;\"><strong> </strong></p>\r\n\r\n<ol>\r\n	<li><strong> THE FX MARKET PLACE:</strong></li>\r\n</ol>\r\nLOOKING BACKWARDS, FORWARDS &amp; SIDEWAYS (FOR GOOD MEASURE) AT THE FX MARKET:\r\n\r\n1.1: LOOKING BACKWARDS:\r\n\r\nWhat a strange week we had last week, it seemed to just drift by, we had news, some of which gave a predictable market response, the rest did nothing really and we seemed to just plod along. Personally, I found it a little weird; I just cannot put my finger directly on the issue for some reason.\r\n\r\nNot to worry, moving on…\r\n\r\nWe had the FOMC minutes released from the last meeting. I think that I have fallen into the trap of powering down 24-36 hours ahead of data releases. The markets seem to go on hold eagerly awaiting any snippet of news from the FED to dissect, and to scrutinize every vowel, consonant and exclamation mark that is forthcoming. I am falling into the same pattern. I schedule myself around the FED announcements and psychologically I am probably disciplined subconsciously not to even think of trading 24-36 hours ahead of any announcement.\r\n\r\nThe FOMC minutes were so-so. You could argue both dovish and bearish. I think the fact that the dovish members of the committee were talking about the language to be used when talking about interest rates, tells me that the hawks are in control and that a hike is looming barring any catastrophes. Not that it could ever be that cut and dried but those are my thoughts.\r\n\r\nOn the other hand, Mario Draghi comes out pulling no punches at all. He spoke on both Monday and Friday last week, if you thought he was acting on Monday, on Friday it was the real deal. My main article this week is about the ECB, so I shall refrain from commenting further in this section.\r\n\r\nOther news of interest last week:\r\n<ul>\r\n	<li>The BOJ announced no more Quantitative easing (QE)…. for now.</li>\r\n	<li>The Australian monetary policy meeting minutes were neutral.</li>\r\n	<li>The GDT dairy prices were lower.</li>\r\n	<li>U.S. CPi data was in line.</li>\r\n	<li>Oil prices once again came under real pressure, as it appears storage is once again an issue, plus the rules of basic supply and demand are back in play.</li>\r\n	<li>Metal prices were hit really hard in the middle of the week and by the end of the week were attempting a bounce.</li>\r\n</ul>\r\nI think the continual state of flux hanging over the markets surrounding the FED rate hike is starting to have an effect. The reality of a rate hike is starting to resonate more with the markets in general and as a result trading volumes are reducing creating thinner markets with jumpy chop-chop moves.\r\n\r\nJust remember the dates below that I had in last week’s blog.\r\n\r\n&nbsp;\r\n<p style=\"text-align: center;\"><em>3<sup>rd</sup> December 2015: ECB meeting in Frankfurt with press conference.</em></p>\r\n<p style=\"text-align: center;\"><em>16<sup>th</sup> December 2015: FOMC meeting with press conference.</em></p>\r\n<p style=\"text-align: center;\"><em>At these meetings I am expecting: - </em></p>\r\n<p style=\"text-align: center;\"><em>ECB:</em></p>\r\n<p style=\"text-align: center;\"><em>Confirmation of more Quantitative Easing (QE) to be added to the existing program. </em></p>\r\n<p style=\"text-align: center;\"><em>A formal announcement of an extension of the existing program beyond September 2016. </em></p>\r\n<p style=\"text-align: center;\"><em>Details of an extension to the types of bonds to be purchased.</em></p>\r\n<p style=\"text-align: center;\"><em>A revision to the overnight deposit rate for central banks within the Eurozone.</em></p>\r\n<p style=\"text-align: center;\"><em>Revisions of Eurozone growth targets to lower levels for 2016-2017. </em></p>\r\n<p style=\"text-align: center;\"><em>FOMC:</em></p>\r\n<p style=\"text-align: center;\"><em>Confirmation of an initial rate increase, probably 0.25%.</em></p>\r\n<p style=\"text-align: center;\"><em>Details from the economic projections “the dots” will be amended.</em></p>\r\n<p style=\"text-align: center;\"><em>Information regarding when future rate increases could be introduced. </em></p>\r\n<p style=\"text-align: center;\"><em>A revision of 2016-2017 growth objectives.</em></p>\r\nIn addition to the above dates it was announced on Friday November 19th that the FED would make a special announcement on Monday the 23rd. I think the last times they did this type of announcement was in 2012.\r\n\r\nWe could be raising rates in November and NOT December, but the announcement could be something else, nothing to do with interest rates. However a quick meeting arranged and an announcement the same day, it sounds like preparing the statement that\'s all.\r\n\r\nPerhaps, the most likely reason for a FED announcement is more to do with the “Discount Rate” and only the “Discount Rate”, but wouldn’t it be something if they pulled the trigger now and did not wait. Why wait to raise rates if the conditions are right now?\r\n\r\n<em>The discount rate is the interest rate charged to commercial banks and other depository institutions on loans they receive from their regional Federal Reserve Bank\'s lending facility - the discount window. </em><em>www.federalreserve.gov/monetary policy/discountrate.htm</em>\r\n\r\n<em>It is rather a misleading term. The discount rate is the rate above the FED funds rate that banks and large institutions use. It is currently 0.75% above what is now refereed to as zirp! </em>\r\n\r\nIf the FED removes the “Discount Rate”, this could be seen as a market mover, in my opinion, this all but confirms a December rate hike, but as stated earlier would the FOMC consider both on the same day?\r\n\r\nThis is some real food for thought.\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n1.2: LOOKING FORWARD:\r\n\r\nMAJOR FOREX NEWS THIS WEEK THAT INTERESTS ME:\r\n\r\n(There are many more news items related to the Forex Market other than the ones listed below. These are the ones that interest me. You can go to <a href=\"http://www.forexfactory.com\">www.forexfactory.com</a> and <a href=\"http://www.tradingeconomics.com\">www.tradingeconomics.com</a> for a more comprehensive lists of all news events that are Forex related).\r\nSUNDAY: N/A.\r\n\r\nMONDAY: EUR – French and German Flash Manufacturing PMi.\r\nMONDAY: USD – FED ANNOUNCEMENT.\r\n\r\nTUESDAY: AUD – Words of wisdom from Glenn Stevens (RBA) .\r\nTUESDAY: USD – GDP and Consumer Confidence.\r\n\r\nWEDNESDAY: NZD – Trade Balance.\r\n\r\nTHURSDAY: N/A.\r\n\r\nFRIDAY: N/A.\r\n\r\n&nbsp;\r\n\r\nMY THOUGHTS ON THE NEWS ITEMS THIS COMING WEEK:\r\n\r\nI am pre-occupied with the FED announcement on Monday. The meeting was hastily arranged last Thursday.\r\n\r\nAs I said it is probably the removal of the “Discount Rate” but you never know.\r\n\r\nIt is a very light week on news, we also have the U.S. Thanksgiving holiday, which falls on Thursday. However, as you may know we have Black Friday sales, Cyber Monday the following week and basically people in the U.S. make longer weekends out these days. There are so many people driving and flying around we literally start to shut down from around lunchtime Tuesday for the week.\r\n\r\nI plan to complete my 2016 TRADE and MARKETING PLAN this week, whilst it’s quiet. About 3 years ago, I found myself caught up in a couple of trades that caused real pain to my broker account at this time.\r\n\r\nTherefore, in the words of the song by Ian Hunter “Once bitten twice shy”. I will be very light with regards to trading.\r\n\r\n&nbsp;\r\n\r\nMY KEY SUPPORT &amp; RESISTANCE LEVELS THIS WEEK FOR USD MAJORS<strong>:</strong>\r\n\r\nIn this section I have as usual kept my charts as minimalist as possible. All readers regardless of level of experience should be able to follow my thoughts from my comments to the levels on the charts with ease.\r\n\r\nAll of my thoughts, ideas and relevant comments are contained on the charts.\r\n\r\n&nbsp;\r\n\r\nEUR/USD - Weekly Closing Price: 1.646\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/EURUSD-M-21112015.png\"><img class=\"aligncenter size-large wp-image-6837\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/EURUSD-M-21112015-1024x514.png\" alt=\"EURUSD M 21112015\" width=\"1024\" height=\"514\" /></a>\r\n\r\n&nbsp;\r\n\r\nGBP/USD - Weekly Closing Price: 1.5193\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/GBPUSD-D-21112015.png\"><img class=\"aligncenter size-large wp-image-6836\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/GBPUSD-D-21112015-1024x514.png\" alt=\"GBPUSD D 21112015\" width=\"1024\" height=\"514\" /></a>\r\n\r\n&nbsp;\r\n\r\nAUD/USD - Weekly Closing Price: 0.7236\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/AUDUSD-3D-21112015.png\"><img class=\"aligncenter size-large wp-image-6838\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/AUDUSD-3D-21112015-1024x514.png\" alt=\"AUDUSD 3D 21112015\" width=\"1024\" height=\"514\" /></a>\r\n\r\n&nbsp;\r\n\r\nNZD/USD - Weekly Closing Price: 0.6568\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/NZDUSD-D-21112015.png\"><img class=\"aligncenter size-large wp-image-6835\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/NZDUSD-D-21112015-1024x514.png\" alt=\"NZDUSD D 21112015\" width=\"1024\" height=\"514\" /></a>\r\n\r\n&nbsp;\r\n\r\nUSD/CAD - Weekly Closing Price: 1.3345\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/USDCAD-D-21112015.png\"><img class=\"aligncenter size-large wp-image-6834\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/USDCAD-D-21112015-1024x514.png\" alt=\"USDCAD D 21112015\" width=\"1024\" height=\"514\" /></a>\r\n\r\n&nbsp;\r\n\r\nUSD/CHF - Weekly Closing Price: 1.0186\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/USDCHF-D-21112015.png\"><img class=\"aligncenter size-large wp-image-6833\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/USDCHF-D-21112015-1024x514.png\" alt=\"USDCHF D 21112015\" width=\"1024\" height=\"514\" /></a>\r\n\r\n&nbsp;\r\n\r\nUSD/JPY - Weekly Closing Price: 122.90\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/USDJPY-D-21112015.png\"><img class=\"aligncenter size-large wp-image-6832\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/USDJPY-D-21112015-1024x514.png\" alt=\"USDJPY D 21112015\" width=\"1024\" height=\"514\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n1.3: LOOKING SIDEWAYS (FOR GOOD MEASURE):\r\n\r\nAs mentioned recently, in this section of the blog, I will answer questions and look at various aspects of trading.\r\n\r\nI was asked last week by one of my subscribers, how do I manage with 10-15 live trades and sometimes up to the same number again with limit orders waiting to trigger, bearing in mind I can have multiple trades open with the same currency pair.\r\n\r\nMy initial answer was plenty of Jack Daniels or Knob Creek.\r\n\r\nMoving on…\r\n\r\nThe question emanated from last weeks article in this section of the blog about divergent FUNDAMENTAL trades that I am now providing.\r\n\r\nI raised the issue with my subscribers, that if they traded all types of my trade set-ups, RADAR, FLASH and FUNDAMENTAL, given the fact that I expect the number of FUNDAMENTAL trades could reach 10-15 live with 5-10 limit orders waiting, would this just swamp their existing account? Maybe it would be a good idea to open a fresh broker account to handle just FUNDAMENTAL trades.\r\n\r\nPersonally, I trade several accounts to manage all my trade set-ups, and by doing this it makes accounting very manageable from my perspective.\r\n\r\nIf I have all my FUNDAMENTAL trades in one broker account, not only are my screens easier to follow, but more importantly, I do not need to look at trades to see are they FLASH or FUNDAMENTAL. In addition it also gives me an instant measurement of performance. I have key objectives to achieve that I have set myself and separation gives me immediate clarification.\r\n\r\nI have three other broker accounts that contain my FLASH and RADAR trades broken down into two categories USD majors and the rest.\r\n\r\nBy doing this it allows me to concentrate on the FLASH trades, which are opportunist trades looking for 10-30 pips. Again through separation I can see the wood from the trees.\r\n\r\nRADAR trades based off limit order entries tend to have a longer life span and can therefore be left alone for a while as the price targets are usually between Fibonacci levels / Horizontal supports. As you know though, of late, all trades have required micro-management to some degree; as it has become a day traders market.\r\n\r\nTherefore, managing multiple trades is made much easier through segregation in my opinion. I have no super-power skills. This approach works for me and I find that it compliments my way of trading.\r\n\r\n&nbsp;\r\n\r\n<strong> </strong>\r\n<ol start=\"2\">\r\n	<li><strong> WHAT’S ON MY MIND:</strong></li>\r\n</ol>\r\n<p style=\"text-align: center;\"><strong>DRAGHI PULLS NO PUNCHES</strong></p>\r\nRegular followers of my blogs since 2012 will be aware that on numerous occasions I have called out the EUROZONE and ECB for basic incompetence, inept management, poor leadership, reactive policies and avoidance of management of specific problems.\r\n\r\nI do not think that the elected Eurozone leaders have done anything at all to change any of my long felt thoughts and beliefs about the way they leap from problem to problem not fixing anything, hoping the problem goes away or is fixed by someone else aka “kicking the can down the road”.\r\n\r\nBehind all of this Mario Draghi, I must admit not averse to a little “can kicking” himself from time to time, carries on trying to keep together another Eurozone blunder called the European Central Bank (ECB).\r\n\r\nThe ECB was designed when times were good, by Germany and France and never modeled to test multiple members pushing and pulling within the constraints of a currency union.\r\n\r\nThe Euro the official currency of the Eurozone, is used by 19 of the 28 member states: -\r\nAustria, Belgium, Cyprus, Estonia, Finland, France, Germany, Greece, Ireland, Italy, Latvia, Lithuania, Luxembourg, Malta, the Netherlands, Portugal, Slovakia, Slovenia, and Spain.\r\n\r\nThere are 19 countries with 19 different tax regimes, 19 different growth expectations based upon their industries and services, 19 different population sizes, ages and country by country differences of unemployment problems from youth to permanently unemployed, and the biggest issue of 19 different countries using effectively the same cheque-book with 19 completely different cultures.\r\n\r\nA recipe for disaster, if ever there was one.\r\n\r\nFor his sins, to get by Mario Draghi has to operate within a very tight mandate to manage a central bank. To add to the complexity of his job profile, beneath him lie 19 elected country finance ministers focused on their own country’s requirements and needs. Mario Draghi has to manage these individual countries from a distance, or I prefer from so high up where the air is thin, that it’s difficult to breathe and try to keep the ECB monetary policy fair to all member states. This he has to do whilst at the same doing what Germany says without it looking that way.\r\n\r\nWith this as my brief backdrop to the Eurozone and ECB you would not be surprised if Mario Draghi drank a bit and you would, well at least I would, cut him some slack.\r\n\r\nGod help him, he has the likes of Wolfgang Scheauble (German Finance Minister), Jens Weidmann (President of the Bundesbank), the guy responsible for all the German dosh and members of the ECB committee like Ewald Nowotny (President of the National Bank of Austria) all loving the sound of their own voices so much they love speaking to the media and undermine much of the good work that Mario Draghi is trying to lead through the ECB and Eurozone with ECB monetary policy. You can forgive Draghi the odd can-kick when you consider the environment he has to work within.\r\n\r\nAn objective of 2% inflation hangs like a ball and chain around Draghi’s neck. He is dealing with DEFLATION for almost two years, if not longer depending upon how you want to interpret statistics. No central banker in the history of the world has the cure for DEFLATION.\r\n\r\nIn an attempt to deflect away from the dreaded “D” word, many central bankers started by Ben Bernanke (Ex FED Chairman) started calling DEFLATION disinflation… yeah right that sounds better and not as tragic.\r\n\r\nIf a single country cannot cure DEFLATION - what chance does Draghi have with 19 countries rolled into 1? The answer = bugger all.\r\n\r\nInside the Eurozone since the financial crisis in 2008 there continues to be unprecedented levels of unemployment (in particular youth), failing social support (health, social and family benefits), lack of infrastructure investment, and most of the 19 countries have a reduced tax income due to massive unemployment and austerity measures which were pushed onto them that they could not afford. In addition, Greece was granted bailouts that have little chance of repayment. Add all of these together and they form the contents of the cauldron that the Eurozone witch Angela Merkel and her sidekick Wolfgang “the pit-bull” Schaeuble have concocted.\r\n\r\nMost of these issues should be dealt with and managed by local central governments but many of these with hands tied look to the ECB for assistance. I have often called Draghi, Angela Merkel’s puppet. I still believe to a large extent he is, but every now and then he comes out fighting and delivers a speech to make matters 100% clear without ambiguity. He made such a speech last Friday at the European Banking Congress in Frankfurt.\r\n\r\nFair play to Mario Draghi, with all of the issues that he has to deal with and manage, he has now left the markets in no uncertain terms about how the cookie is going to crumble. There is for once in the Eurozone no can kicking and no ambiguity, even the dumbest commentator or analyst are left without doubt.\r\n\r\nHere are the key points he referenced: -\r\n<ul>\r\n	<li>Inflation in the Eurozone is slipping fast.</li>\r\n	<li>There is too much slack in the Eurozone economy.</li>\r\n	<li>The effect of lower oil process is keeping inflation low.</li>\r\n	<li>He is looking to increase / expand the current €1.1 trillion QE program.</li>\r\n	<li>The ECB is thinking of moving the overnight deposit rate paid by the ECB further below zero in an attempt to force central banks to place more money into the economy.</li>\r\n	<li>Core inflation excluding energy and food is still too weak.</li>\r\n	<li>No real wage growth.</li>\r\n</ul>\r\nIt\'s a great read and a very sad reflection that since the financial crash of 2008, almost 8 years later following the German failed policy of austerity the Eurozone is still deep in the sh*t. Yes there are green shoots dotted about but in general it reflects a complete disaster of policy that has failed.\r\n\r\nDraghi will have QE for at least another two years in my opinion and then he has to taper.\r\n\r\nMerkel and the Pit-bull who have been against QE (they favour the f**k up called austerity) are probably more onside now given the VW scandal and the fact that exports are under pressure as a world slowdown is in play. The world is in slowdown mode, so who will the German manufacturers sell finished goods to if there are no buyers? At least if it is cheaper to buy German products due to lower exchange rates via QE polices the German exporters have a chance of selling in a depressed market.\r\n\r\nYup… central bank policy divergence is coming to a trade desk and computer screen near you very soon, in fact it has started.\r\n\r\nThe markets tried to bounce the oversold EUR/USD off 1.0630 lows after the FOMC meeting minutes were released. Even the grossly oversold at that point EUR/USD couldn’t bounce to more than 1.7050. After Draghi’s speech and the reality of what he had said resonated, it took a few hours to sink in, there is defiance in the markets, but when it finally sank in, the EUR/USD fell back to its lows once again below 1.0650.\r\n\r\n<strong> </strong>\r\n<ol start=\"3\">\r\n	<li><strong> THE PREMIUM SERVICE:</strong></li>\r\n</ol>\r\n3.1: SUMMARY OF YEAR TO DATE PERFORMANCE - 2015:\r\n<p style=\"text-align: center;\">PREMIUM SERVICE – COST INCOME ANALYSIS (USD):\r\nPROFITS FROM TRADES COMPLETED THIS YEAR – to November 21st 2015.</p>\r\n<p style=\"text-align: center;\">MICRO LOT TRADER - 641 trades cost to trade = $64.10\r\n<strong>PROFIT</strong> from 641 trades = <strong>$1,212.80\r\n</strong>(You spend $64.10 on trades and your gross return is $1,212.80)</p>\r\n<p style=\"text-align: center;\">MINI LOT TRADER - 641 trades cost to trade = $641.00\r\n<strong>PROFIT</strong> from 641 trades = <strong>$12,128.00\r\n</strong>(You spend $641.00 on trades and your gross return is $1,212.80)</p>\r\n<p style=\"text-align: center;\">STANDARD LOT TRADER - 641 trades cost to trade = $6,410.00\r\n<strong>PROFIT</strong> from 641 trades = <strong>$121,280.00\r\n</strong>(You spend $6,410.00 on trades and your gross return is $1,212.80)</p>\r\n<p style=\"text-align: center;\"><strong>The profit levels below are based on single lot trades only; obviously if you trade with two lots the returns double and so on…………</strong></p>\r\nNOTES:\r\n<ul>\r\n	<li>If the above return from Forex Trading interests you go to my website landing page at <a href=\"http://www.weeklyfxdrivethru.com\">weeklyfxdrivethru.com</a> and check out the subscription options and special promotions under the tabs “PREMIUM SERVICE” and “PROMOTIONS”</li>\r\n	<li>If you want more data about the performance and my website does not answer your questions, contact me directly and I will supply the data you require.</li>\r\n	<li>THE PREMIUM SERVICE has subscribers with broker accounts of sizes ranging from $2,500 to over $100,000. A profitable trade is a profitable trade. It is all about trading according to the size of your broker account with EFFECTIVE POSITION SIZING and applying RISK MANAGEMENT principles at all times</li>\r\n</ul>\r\n&nbsp;\r\n\r\n3.2: PREMIUM SERVICE – 2015 PERFORMANCE TO DATE:\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/PS-PROFITS1-21112015.png\"><img class=\"aligncenter size-full wp-image-6821\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/PS-PROFITS1-21112015.png\" alt=\"PS PROFITS1 21112015\" width=\"527\" height=\"419\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/PREM-SERV-PROFITS2-21112015.png\"><img class=\"aligncenter size-full wp-image-6822\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/PREM-SERV-PROFITS2-21112015.png\" alt=\"PREM SERV PROFITS2 21112015\" width=\"538\" height=\"416\" /></a>\r\n\r\n3.3: PREMIUM SERVICE – 2014 TOTAL PERFORMANCE:\r\n\r\n<strong> <a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/PS-PROFITS-2014.png\"><img class=\"aligncenter size-full wp-image-6791\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/PS-PROFITS-2014.png\" alt=\"PS PROFITS 2014\" width=\"529\" height=\"487\" /></a></strong>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n3.4: PREMIUM SERVICE – DIVERGENT FUNDAMENTAL TRADES:\r\n\r\n&nbsp;\r\n<p style=\"text-align: center;\"><strong>AT LAST AN OPTION FOR THE PART-TIME TRADER\r\n</strong><strong>HOWEVER\r\n</strong><strong>ALL TRADERS CAN OBVIOUSLY BENEFIT</strong></p>\r\nI have talked recently about central bank policy divergence and how this should bring a more directional market to Forex.\r\n\r\nI have in the past been using my FUNDAMENTAL trade style primarily for commodity cross-rate pairs and whilst this has been successful, I decided in Q3 2015 to look a little closer at my subscriber make–up and I discovered that I could do more for my subscribers who I class as part-time.\r\n\r\nPart-time from my perspective means: A trader who is unable to access their computer for whatever reason at will and who therefore only really has two or three times a day to check on trades.\r\n\r\nObviously many brokers (all of my recommended brokers with banners on my website included) offer iOS and Android options to keep you in touch with your trading progress, which is great but some occupations exclude this access as well during the day.\r\n\r\nDIVERGENT FUNDAMENTAL TRADES, I believe offer a great solution to trading for part-time traders as they are longer-term position style trades.\r\n\r\nI had been working on these trades since September only based on what conditions should be in 2016-2017. As time progresses and the reality of what is ahead has finally hit home, the trade results got stronger and stronger. So much so I launched this type of trade with my existing PREMIUM SERVICE subscribers on November 1<sup>st</sup>, with the view of a December lift-off after the FOMC and ECB meetings.\r\n\r\nThe results so far have amazed me, 1,441 pips in November from completed trades is the net result. (Profits were taken on core trades only after NFP)\r\n\r\nThe PREMIUM SERVICE this year so far is ahead of my 2014 performance. This year so far the net result on pips generated in total is 12,128. This involves total dedicated almost round the clock access to computer screens and minimal sleep to achieve the best entries and exits.\r\n\r\nNot everyone can live that lifestyle, or maybe wants to.\r\n\r\nI will be releasing a special blog on DIVERGENT FUNDAMENTAL TRADES very soon.\r\n\r\nThe blog will be published on my website <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a> it will be sent to all people who are subscribers to the FREE NEWSLETTER (to subscribe to the FREE NEWSLETTER go to my landing page on the right hand side about 50% down), and it will posted to several social media options.\r\n\r\nIf you want to read more about this - sign up on my website. A 5 minute read could generate $$$$ for you and your family.\r\n\r\n&nbsp;\r\n\r\n<strong> </strong>\r\n<ol start=\"4\">\r\n	<li><strong> PREMIUM SERVICE (GOLD) EXCLUSIVE CONTENT:</strong></li>\r\n</ol>\r\n(This area contains exclusive content for PREMIUM SERVICE (GOLD) subscribers)\r\n\r\n4.1: THE PREMIUM SERVICE – TRADING REVIEW:\r\n\r\n4.2: THE DIVERGENT CB MONETARY POLICY – FUNDAMENTAL TRADES:\r\n\r\n4.3: CHANGES TO MY PREFERRED FX BROKER LINEUP:\r\n\r\n4.4: REVISIONS TO TRADE STYLE DEFINITIONS:\r\n\r\n4.5: MAJOR TRADING PAIRS WITH LONGER-TERM MATCHING TRENDS:\r\n\r\n4.6: THE PREMIUM SERVICE - LIVE TRADES ARE:\r\n\r\n4.7: THE PREMIUM SERVICE – LIMIT ORDER TRADES ARE:\r\n\r\n4.8: POTENTIAL TRADES - WHAT PAIRS / CHARTS AM I LOOKING AT?\r\n\r\n<strong> </strong>\r\n\r\n<strong> </strong>\r\n<ol start=\"5\">\r\n	<li><strong> MY FINAL THOUGHTS:</strong></li>\r\n</ol>\r\nOVERVIEW OF TRADING TIPS &amp; THOUGHTS FOR THE WEEK AHEAD:\r\n\r\nThis will be a strange week.\r\n\r\nWe have a FED announcement on Monday that could be a pre-cursor to the rate hike next month. This week could be the week that sets the tone for the next two years. Mario Draghi has already played his hand, it is just a case of how much more and until when with regards to QE in the Eurozone.\r\n\r\nI am expecting very thin markets this coming week so I would trade smaller to allow for increased volatility.\r\n\r\nAs usual trade within your means, use your TRADE PLAN manage RISK with correct POSITION SIZING and STOP PLACEMENT.\r\n\r\nLongevity in trading is paramount to success. Success in trading is based mainly trading high probability trades with your RISKS MANAGED.\r\n\r\n&nbsp;\r\n\r\nTake care,\r\n\r\nScott Pickering\r\nThe Pip Accumulator\r\n<a href=\"https://weeklyfxdrivethru.com/disclaimer/\">https://weeklyfxdrivethru.com/disclaimer/\r\n</a>BLOG #178\r\n\r\n&nbsp;\r\n\r\n<strong><u> </u></strong>','DRAGHI PULLS NO PUNCHES','','inherit','closed','closed','','6850-revision-v1','','','2015-11-21 15:16:50','2015-11-21 20:16:50','',6850,'https://weeklyfxdrivethru.com/6850-revision-v1/',0,'revision','',0),(6851,1,'2015-11-21 15:15:50','2015-11-21 20:15:50','<p style=\"text-align: center;\"><strong>THE PREMIUM SERVICE</strong>\r\n<strong>from the</strong>\r\n<strong>WEEKLY FX DRIVE THRU</strong>\r\n<strong>“The Home of Single Lot Trading”</strong></p>\r\n<p style=\"text-align: center;\"><strong> </strong></p>\r\n\r\n<ol>\r\n	<li><strong> THE FX MARKET PLACE:</strong></li>\r\n</ol>\r\nLOOKING BACKWARDS, FORWARDS &amp; SIDEWAYS (FOR GOOD MEASURE) AT THE FX MARKET:\r\n\r\n1.1: LOOKING BACKWARDS:\r\n\r\nWhat a strange week we had last week, it seemed to just drift by, we had news, some of which gave a predictable market response, the rest did nothing really and we seemed to just plod along. Personally, I found it a little weird; I just cannot put my finger directly on the issue for some reason.\r\n\r\nNot to worry, moving on…\r\n\r\nWe had the FOMC minutes released from the last meeting. I think that I have fallen into the trap of powering down 24-36 hours ahead of data releases. The markets seem to go on hold eagerly awaiting any snippet of news from the FED to dissect, and to scrutinize every vowel, consonant and exclamation mark that is forthcoming. I am falling into the same pattern. I schedule myself around the FED announcements and psychologically I am probably disciplined subconsciously not to even think of trading 24-36 hours ahead of any announcement.\r\n\r\nThe FOMC minutes were so-so. You could argue both dovish and bearish. I think the fact that the dovish members of the committee were talking about the language to be used when talking about interest rates, tells me that the hawks are in control and that a hike is looming barring any catastrophes. Not that it could ever be that cut and dried but those are my thoughts.\r\n\r\nOn the other hand, Mario Draghi comes out pulling no punches at all. He spoke on both Monday and Friday last week, if you thought he was acting on Monday, on Friday it was the real deal. My main article this week is about the ECB, so I shall refrain from commenting further in this section.\r\n\r\nOther news of interest last week:\r\n<ul>\r\n	<li>The BOJ announced no more Quantitative easing (QE)…. for now.</li>\r\n	<li>The Australian monetary policy meeting minutes were neutral.</li>\r\n	<li>The GDT dairy prices were lower.</li>\r\n	<li>U.S. CPi data was in line.</li>\r\n	<li>Oil prices once again came under real pressure, as it appears storage is once again an issue, plus the rules of basic supply and demand are back in play.</li>\r\n	<li>Metal prices were hit really hard in the middle of the week and by the end of the week were attempting a bounce.</li>\r\n</ul>\r\nI think the continual state of flux hanging over the markets surrounding the FED rate hike is starting to have an effect. The reality of a rate hike is starting to resonate more with the markets in general and as a result trading volumes are reducing creating thinner markets with jumpy chop-chop moves.\r\n\r\nJust remember the dates below that I had in last week’s blog.\r\n\r\n&nbsp;\r\n<p style=\"text-align: center;\"><em>3<sup>rd</sup> December 2015: ECB meeting in Frankfurt with press conference.</em></p>\r\n<p style=\"text-align: center;\"><em>16<sup>th</sup> December 2015: FOMC meeting with press conference.</em></p>\r\n<p style=\"text-align: center;\"><em>At these meetings I am expecting: - </em></p>\r\n<p style=\"text-align: center;\"><em>ECB:</em></p>\r\n<p style=\"text-align: center;\"><em>Confirmation of more Quantitative Easing (QE) to be added to the existing program. </em></p>\r\n<p style=\"text-align: center;\"><em>A formal announcement of an extension of the existing program beyond September 2016. </em></p>\r\n<p style=\"text-align: center;\"><em>Details of an extension to the types of bonds to be purchased.</em></p>\r\n<p style=\"text-align: center;\"><em>A revision to the overnight deposit rate for central banks within the Eurozone.</em></p>\r\n<p style=\"text-align: center;\"><em>Revisions of Eurozone growth targets to lower levels for 2016-2017. </em></p>\r\n<p style=\"text-align: center;\"><em>FOMC:</em></p>\r\n<p style=\"text-align: center;\"><em>Confirmation of an initial rate increase, probably 0.25%.</em></p>\r\n<p style=\"text-align: center;\"><em>Details from the economic projections “the dots” will be amended.</em></p>\r\n<p style=\"text-align: center;\"><em>Information regarding when future rate increases could be introduced. </em></p>\r\n<p style=\"text-align: center;\"><em>A revision of 2016-2017 growth objectives.</em></p>\r\n<p style=\"text-align: center;\"></p>\r\nIn addition to the above dates it was announced on Friday November 19th that the FED would make a special announcement on Monday the 23rd. I think the last times they did this type of announcement was in 2012.\r\n\r\nWe could be raising rates in November and NOT December, but the announcement could be something else, nothing to do with interest rates. However a quick meeting arranged and an announcement the same day, it sounds like preparing the statement that\'s all.\r\n\r\nPerhaps, the most likely reason for a FED announcement is more to do with the “Discount Rate” and only the “Discount Rate”, but wouldn’t it be something if they pulled the trigger now and did not wait. Why wait to raise rates if the conditions are right now?\r\n\r\n<em>The discount rate is the interest rate charged to commercial banks and other depository institutions on loans they receive from their regional Federal Reserve Bank\'s lending facility - the discount window. </em><em>www.federalreserve.gov/monetarypolicy/discountrate.htm</em>\r\n\r\n<em>It is rather a misleading term. The discount rate is the rate above the FED funds rate that banks and large institutions use. It is currently 0.75% above what is now refereed to as zirp! </em>\r\n\r\nIf the FED removes the “Discount Rate”, this could be seen as a market mover, in my opinion, this all but confirms a December rate hike, but as stated earlier would the FOMC consider both on the same day?\r\n\r\nThis is some real food for thought.\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n1.2: LOOKING FORWARD:\r\n\r\nMAJOR FOREX NEWS THIS WEEK THAT INTERESTS ME:\r\n\r\n(There are many more news items related to the Forex Market other than the ones listed below. These are the ones that interest me. You can go to <a href=\"http://www.forexfactory.com\">www.forexfactory.com</a> and <a href=\"http://www.tradingeconomics.com\">www.tradingeconomics.com</a> for a more comprehensive lists of all news events that are Forex related).\r\nSUNDAY: N/A.\r\n\r\nMONDAY: EUR – French and German Flash Manufacturing PMi.\r\nMONDAY: USD – FED ANNOUNCEMENT.\r\n\r\nTUESDAY: AUD – Words of wisdom from Glenn Stevens (RBA) .\r\nTUESDAY: USD – GDP and Consumer Confidence.\r\n\r\nWEDNESDAY: NZD – Trade Balance.\r\n\r\nTHURSDAY: N/A.\r\n\r\nFRIDAY: N/A.\r\n\r\n&nbsp;\r\n\r\nMY THOUGHTS ON THE NEWS ITEMS THIS COMING WEEK:\r\n\r\nI am pre-occupied with the FED announcement on Monday. The meeting was hastily arranged last Thursday.\r\n\r\nAs I said it is probably the removal of the “Discount Rate” but you never know.\r\n\r\nIt is a very light week on news, we also have the U.S. Thanksgiving holiday, which falls on Thursday. However, as you may know we have Black Friday sales, Cyber Monday the following week and basically people in the U.S. make longer weekends out these days. There are so many people driving and flying around we literally start to shut down from around lunchtime Tuesday for the week.\r\n\r\nI plan to complete my 2016 TRADE and MARKETING PLAN this week, whilst it’s quiet. About 3 years ago, I found myself caught up in a couple of trades that caused real pain to my broker account at this time.\r\n\r\nTherefore, in the words of the song by Ian Hunter “Once bitten twice shy”. I will be very light with regards to trading.\r\n\r\n&nbsp;\r\n\r\nMY KEY SUPPORT &amp; RESISTANCE LEVELS THIS WEEK FOR USD MAJORS<strong>:</strong>\r\n\r\nIn this section I have as usual kept my charts as minimalist as possible. All readers regardless of level of experience should be able to follow my thoughts from my comments to the levels on the charts with ease.\r\n\r\nAll of my thoughts, ideas and relevant comments are contained on the charts.\r\n\r\n&nbsp;\r\n\r\nEUR/USD - Weekly Closing Price: 1.646\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/EURUSD-M-21112015.png\"><img class=\"aligncenter size-large wp-image-6837\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/EURUSD-M-21112015-1024x514.png\" alt=\"EURUSD M 21112015\" width=\"1024\" height=\"514\" /></a>\r\n\r\n&nbsp;\r\n\r\nGBP/USD - Weekly Closing Price: 1.5193\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/GBPUSD-D-21112015.png\"><img class=\"aligncenter size-large wp-image-6836\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/GBPUSD-D-21112015-1024x514.png\" alt=\"GBPUSD D 21112015\" width=\"1024\" height=\"514\" /></a>\r\n\r\n&nbsp;\r\n\r\nAUD/USD - Weekly Closing Price: 0.7236\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/AUDUSD-3D-21112015.png\"><img class=\"aligncenter size-large wp-image-6838\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/AUDUSD-3D-21112015-1024x514.png\" alt=\"AUDUSD 3D 21112015\" width=\"1024\" height=\"514\" /></a>\r\n\r\n&nbsp;\r\n\r\nNZD/USD - Weekly Closing Price: 0.6568\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/NZDUSD-D-21112015.png\"><img class=\"aligncenter size-large wp-image-6835\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/NZDUSD-D-21112015-1024x514.png\" alt=\"NZDUSD D 21112015\" width=\"1024\" height=\"514\" /></a>\r\n\r\n&nbsp;\r\n\r\nUSD/CAD - Weekly Closing Price: 1.3345\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/USDCAD-D-21112015.png\"><img class=\"aligncenter size-large wp-image-6834\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/USDCAD-D-21112015-1024x514.png\" alt=\"USDCAD D 21112015\" width=\"1024\" height=\"514\" /></a>\r\n\r\n&nbsp;\r\n\r\nUSD/CHF - Weekly Closing Price: 1.0186\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/USDCHF-D-21112015.png\"><img class=\"aligncenter size-large wp-image-6833\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/USDCHF-D-21112015-1024x514.png\" alt=\"USDCHF D 21112015\" width=\"1024\" height=\"514\" /></a>\r\n\r\n&nbsp;\r\n\r\nUSD/JPY - Weekly Closing Price: 122.90\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/USDJPY-D-21112015.png\"><img class=\"aligncenter size-large wp-image-6832\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/USDJPY-D-21112015-1024x514.png\" alt=\"USDJPY D 21112015\" width=\"1024\" height=\"514\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n1.3: LOOKING SIDEWAYS (FOR GOOD MEASURE):\r\n\r\nAs mentioned recently, in this section of the blog, I will answer questions and look at various aspects of trading.\r\n\r\nI was asked last week by one of my subscribers, how do I manage with 10-15 live trades and sometimes up to the same number again with limit orders waiting to trigger, bearing in mind I can have multiple trades open with the same currency pair.\r\n\r\nMy initial answer was plenty of Jack Daniels or Knob Creek.\r\n\r\nMoving on…\r\n\r\nThe question emanated from last weeks article in this section of the blog about divergent FUNDAMENTAL trades that I am now providing.\r\n\r\nI raised the issue with my subscribers, that if they traded all types of my trade set-ups, RADAR, FLASH and FUNDAMENTAL, given the fact that I expect the number of FUNDAMENTAL trades could reach 10-15 live with 5-10 limit orders waiting, would this just swamp their existing account? Maybe it would be a good idea to open a fresh broker account to handle just FUNDAMENTAL trades.\r\n\r\nPersonally, I trade several accounts to manage all my trade set-ups, and by doing this it makes accounting very manageable from my perspective.\r\n\r\nIf I have all my FUNDAMENTAL trades in one broker account, not only are my screens easier to follow, but more importantly, I do not need to look at trades to see are they FLASH or FUNDAMENTAL. In addition it also gives me an instant measurement of performance. I have key objectives to achieve that I have set myself and separation gives me immediate clarification.\r\n\r\nI have three other broker accounts that contain my FLASH and RADAR trades broken down into two categories USD majors and the rest.\r\n\r\nBy doing this it allows me to concentrate on the FLASH trades, which are opportunist trades looking for 10-30 pips. Again through separation I can see the wood from the trees.\r\n\r\nRADAR trades based off limit order entries tend to have a longer life span and can therefore be left alone for a while as the price targets are usually between Fibonacci levels / Horizontal supports. As you know though, of late, all trades have required micro-management to some degree; as it has become a day traders market.\r\n\r\nTherefore, managing multiple trades is made much easier through segregation in my opinion. I have no super-power skills. This approach works for me and I find that it compliments my way of trading.\r\n\r\n&nbsp;\r\n\r\n<strong> </strong>\r\n<ol start=\"2\">\r\n	<li><strong> WHAT’S ON MY MIND:</strong></li>\r\n</ol>\r\n<p style=\"text-align: center;\"><strong>DRAGHI PULLS NO PUNCHES</strong></p>\r\nRegular followers of my blogs since 2012 will be aware that on numerous occasions I have called out the EUROZONE and ECB for basic incompetence, inept management, poor leadership, reactive policies and avoidance of management of specific problems.\r\n\r\nI do not think that the elected Eurozone leaders have done anything at all to change any of my long felt thoughts and beliefs about the way they leap from problem to problem not fixing anything, hoping the problem goes away or is fixed by someone else aka “kicking the can down the road”.\r\n\r\nBehind all of this Mario Draghi, I must admit not averse to a little “can kicking” himself from time to time, carries on trying to keep together another Eurozone blunder called the European Central Bank (ECB).\r\n\r\nThe ECB was designed when times were good, by Germany and France and never modeled to test multiple members pushing and pulling within the constraints of a currency union.\r\n\r\nThe Euro the official currency of the Eurozone, is used by 19 of the 28 member states: -\r\nAustria, Belgium, Cyprus, Estonia, Finland, France, Germany, Greece, Ireland, Italy, Latvia, Lithuania, Luxembourg, Malta, the Netherlands, Portugal, Slovakia, Slovenia, and Spain.\r\n\r\nThere are 19 countries with 19 different tax regimes, 19 different growth expectations based upon their industries and services, 19 different population sizes, ages and country by country differences of unemployment problems from youth to permanently unemployed, and the biggest issue of 19 different countries using effectively the same cheque-book with 19 completely different cultures.\r\n\r\nA recipe for disaster, if ever there was one.\r\n\r\nFor his sins, to get by Mario Draghi has to operate within a very tight mandate to manage a central bank. To add to the complexity of his job profile, beneath him lie 19 elected country finance ministers focused on their own country’s requirements and needs. Mario Draghi has to manage these individual countries from a distance, or I prefer from so high up where the air is thin, that it’s difficult to breathe and try to keep the ECB monetary policy fair to all member states. This he has to do whilst at the same doing what Germany says without it looking that way.\r\n\r\nWith this as my brief backdrop to the Eurozone and ECB you would not be surprised if Mario Draghi drank a bit and you would, well at least I would, cut him some slack.\r\n\r\nGod help him, he has the likes of Wolfgang Scheauble (German Finance Minister), Jens Weidmann (President of the Bundesbank), the guy responsible for all the German dosh and members of the ECB committee like Ewald Nowotny (President of the National Bank of Austria) all loving the sound of their own voices so much they love speaking to the media and undermine much of the good work that Mario Draghi is trying to lead through the ECB and Eurozone with ECB monetary policy. You can forgive Draghi the odd can-kick when you consider the environment he has to work within.\r\n\r\nAn objective of 2% inflation hangs like a ball and chain around Draghi’s neck. He is dealing with DEFLATION for almost two years, if not longer depending upon how you want to interpret statistics. No central banker in the history of the world has the cure for DEFLATION.\r\n\r\nIn an attempt to deflect away from the dreaded “D” word, many central bankers started by Ben Bernanke (Ex FED Chairman) started calling DEFLATION disinflation… yeah right that sounds better and not as tragic.\r\n\r\nIf a single country cannot cure DEFLATION - what chance does Draghi have with 19 countries rolled into 1? The answer = bugger all.\r\n\r\nInside the Eurozone since the financial crisis in 2008 there continues to be unprecedented levels of unemployment (in particular youth), failing social support (health, social and family benefits), lack of infrastructure investment, and most of the 19 countries have a reduced tax income due to massive unemployment and austerity measures which were pushed onto them that they could not afford. In addition, Greece was granted bailouts that have little chance of repayment. Add all of these together and they form the contents of the cauldron that the Eurozone witch Angela Merkel and her sidekick Wolfgang “the pit-bull” Schaeuble have concocted.\r\n\r\nMost of these issues should be dealt with and managed by local central governments but many of these with hands tied look to the ECB for assistance. I have often called Draghi, Angela Merkel’s puppet. I still believe to a large extent he is, but every now and then he comes out fighting and delivers a speech to make matters 100% clear without ambiguity. He made such a speech last Friday at the European Banking Congress in Frankfurt.\r\n\r\nFair play to Mario Draghi, with all of the issues that he has to deal with and manage, he has now left the markets in no uncertain terms about how the cookie is going to crumble. There is for once in the Eurozone no can kicking and no ambiguity, even the dumbest commentator or analyst are left without doubt.\r\n\r\nHere are the key points he referenced: -\r\n<ul>\r\n	<li>Inflation in the Eurozone is slipping fast.</li>\r\n	<li>There is too much slack in the Eurozone economy.</li>\r\n	<li>The effect of lower oil process is keeping inflation low.</li>\r\n	<li>He is looking to increase / expand the current €1.1 trillion QE program.</li>\r\n	<li>The ECB is thinking of moving the overnight deposit rate paid by the ECB further below zero in an attempt to force central banks to place more money into the economy.</li>\r\n	<li>Core inflation excluding energy and food is still too weak.</li>\r\n	<li>No real wage growth.</li>\r\n</ul>\r\nIt\'s a great read and a very sad reflection that since the financial crash of 2008, almost 8 years later following the German failed policy of austerity the Eurozone is still deep in the sh*t. Yes there are green shoots dotted about but in general it reflects a complete disaster of policy that has failed.\r\n\r\nDraghi will have QE for at least another two years in my opinion and then he has to taper.\r\n\r\nMerkel and the Pit-bull who have been against QE (they favour the f**k up called austerity) are probably more onside now given the VW scandal and the fact that exports are under pressure as a world slowdown is in play. The world is in slowdown mode, so who will the German manufacturers sell finished goods to if there are no buyers? At least if it is cheaper to buy German products due to lower exchange rates via QE polices the German exporters have a chance of selling in a depressed market.\r\n\r\nYup… central bank policy divergence is coming to a trade desk and computer screen near you very soon, in fact it has started.\r\n\r\nThe markets tried to bounce the oversold EUR/USD off 1.0630 lows after the FOMC meeting minutes were released. Even the grossly oversold at that point EUR/USD couldn’t bounce to more than 1.7050. After Draghi’s speech and the reality of what he had said resonated, it took a few hours to sink in, there is defiance in the markets, but when it finally sank in, the EUR/USD fell back to its lows once again below 1.0650.\r\n\r\n<strong> </strong>\r\n<ol start=\"3\">\r\n	<li><strong> THE PREMIUM SERVICE:</strong></li>\r\n</ol>\r\n3.1: SUMMARY OF YEAR TO DATE PERFORMANCE - 2015:\r\n<p style=\"text-align: center;\">PREMIUM SERVICE – COST INCOME ANALYSIS (USD):\r\nPROFITS FROM TRADES COMPLETED THIS YEAR – to November 21st 2015.</p>\r\n<p style=\"text-align: center;\">MICRO LOT TRADER - 641 trades cost to trade = $64.10\r\n<strong>PROFIT</strong> from 641 trades = <strong>$1,212.80\r\n</strong>(You spend $64.10 on trades and your gross return is $1,212.80)</p>\r\n<p style=\"text-align: center;\">MINI LOT TRADER - 641 trades cost to trade = $641.00\r\n<strong>PROFIT</strong> from 641 trades = <strong>$12,128.00\r\n</strong>(You spend $641.00 on trades and your gross return is $1,212.80)</p>\r\n<p style=\"text-align: center;\">STANDARD LOT TRADER - 641 trades cost to trade = $6,410.00\r\n<strong>PROFIT</strong> from 641 trades = <strong>$121,280.00\r\n</strong>(You spend $6,410.00 on trades and your gross return is $1,212.80)</p>\r\n<p style=\"text-align: center;\"><strong>The profit levels below are based on single lot trades only; obviously if you trade with two lots the returns double and so on…………</strong></p>\r\n<p style=\"text-align: center;\"></p>\r\nNOTES:\r\n<ul>\r\n	<li>If the above return from Forex Trading interests you go to my website landing page at <a href=\"http://www.weeklyfxdrivethru.com\">weeklyfxdrivethru.com</a> and check out the subscription options and special promotions under the tabs “PREMIUM SERVICE” and “PROMOTIONS”</li>\r\n	<li>If you want more data about the performance and my website does not answer your questions, contact me directly and I will supply the data you require.</li>\r\n	<li>THE PREMIUM SERVICE has subscribers with broker accounts of sizes ranging from $2,500 to over $100,000. A profitable trade is a profitable trade. It is all about trading according to the size of your broker account with EFFECTIVE POSITION SIZING and applying RISK MANAGEMENT principles at all times</li>\r\n</ul>\r\n&nbsp;\r\n\r\n3.2: PREMIUM SERVICE – 2015 PERFORMANCE TO DATE:\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/PS-PROFITS1-21112015.png\"><img class=\"aligncenter size-full wp-image-6821\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/PS-PROFITS1-21112015.png\" alt=\"PS PROFITS1 21112015\" width=\"527\" height=\"419\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/PREM-SERV-PROFITS2-21112015.png\"><img class=\"aligncenter size-full wp-image-6822\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/PREM-SERV-PROFITS2-21112015.png\" alt=\"PREM SERV PROFITS2 21112015\" width=\"538\" height=\"416\" /></a>\r\n\r\n3.3: PREMIUM SERVICE – 2014 TOTAL PERFORMANCE:\r\n\r\n<strong> <a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/PS-PROFITS-2014.png\"><img class=\"aligncenter size-full wp-image-6791\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/PS-PROFITS-2014.png\" alt=\"PS PROFITS 2014\" width=\"529\" height=\"487\" /></a></strong>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n3.4: PREMIUM SERVICE – DIVERGENT FUNDAMENTAL TRADES:\r\n\r\n&nbsp;\r\n<p style=\"text-align: center;\"><strong>AT LAST AN OPTION FOR THE PART-TIME TRADER\r\n</strong><strong>HOWEVER\r\n</strong><strong>ALL TRADERS CAN OBVIOUSLY BENEFIT</strong></p>\r\nI have talked recently about central bank policy divergence and how this should bring a more directional market to Forex.\r\n\r\nI have in the past been using my FUNDAMENTAL trade style primarily for commodity cross-rate pairs and whilst this has been successful, I decided in Q3 2015 to look a little closer at my subscriber make–up and I discovered that I could do more for my subscribers who I class as part-time.\r\n\r\nPart-time from my perspective means: A trader who is unable to access their computer for whatever reason at will and who therefore only really has two or three times a day to check on trades.\r\n\r\nObviously many brokers (all of my recommended brokers with banners on my website included) offer iOS and Android options to keep you in touch with your trading progress, which is great but some occupations exclude this access as well during the day.\r\n\r\nDIVERGENT FUNDAMENTAL TRADES, I believe offer a great solution to trading for part-time traders as they are longer-term position style trades.\r\n\r\nI had been working on these trades since September only based on what conditions should be in 2016-2017. As time progresses and the reality of what is ahead has finally hit home, the trade results got stronger and stronger. So much so I launched this type of trade with my existing PREMIUM SERVICE subscribers on November 1<sup>st</sup>, with the view of a December lift-off after the FOMC and ECB meetings.\r\n\r\nThe results so far have amazed me, 1,441 pips in November from completed trades is the net result. (Profits were taken on core trades only after NFP)\r\n\r\nThe PREMIUM SERVICE this year so far is ahead of my 2014 performance. This year so far the net result on pips generated in total is 12,128. This involves total dedicated almost round the clock access to computer screens and minimal sleep to achieve the best entries and exits.\r\n\r\nNot everyone can live that lifestyle, or maybe wants to.\r\n\r\nI will be releasing a special blog on DIVERGENT FUNDAMENTAL TRADES very soon.\r\n\r\nThe blog will be published on my website <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a> it will be sent to all people who are subscribers to the FREE NEWSLETTER (to subscribe to the FREE NEWSLETTER go to my landing page on the right hand side about 50% down), and it will posted to several social media options.\r\n\r\nIf you want to read more about this - sign up on my website. A 5 minute read could generate $$$$ for you and your family.\r\n\r\n&nbsp;\r\n\r\n<strong> </strong>\r\n<ol start=\"4\">\r\n	<li><strong> PREMIUM SERVICE (GOLD) EXCLUSIVE CONTENT:</strong></li>\r\n</ol>\r\n(This area contains exclusive content for PREMIUM SERVICE (GOLD) subscribers)\r\n\r\n4.1: THE PREMIUM SERVICE – TRADING REVIEW:\r\n\r\n4.2: THE DIVERGENT CB MONETARY POLICY – FUNDAMENTAL TRADES:\r\n\r\n4.3: CHANGES TO MY PREFERRED FX BROKER LINEUP:\r\n\r\n4.4: REVISIONS TO TRADE STYLE DEFINITIONS:\r\n\r\n4.5: MAJOR TRADING PAIRS WITH LONGER-TERM MATCHING TRENDS:\r\n\r\n4.6: THE PREMIUM SERVICE - LIVE TRADES ARE:\r\n\r\n4.7: THE PREMIUM SERVICE – LIMIT ORDER TRADES ARE:\r\n\r\n4.8: POTENTIAL TRADES - WHAT PAIRS / CHARTS AM I LOOKING AT?\r\n\r\n<strong> </strong>\r\n\r\n<strong> </strong>\r\n<ol start=\"5\">\r\n	<li><strong> MY FINAL THOUGHTS:</strong></li>\r\n</ol>\r\nOVERVIEW OF TRADING TIPS &amp; THOUGHTS FOR THE WEEK AHEAD:\r\n\r\nThis will be a strange week.\r\n\r\nWe have a FED announcement on Monday that could be a pre-cursor to the rate hike next month. This week could be the week that sets the tone for the next two years. Mario Draghi has already played his hand, it is just a case of how much more and until when with regards to QE in the Eurozone.\r\n\r\nI am expecting very thin markets this coming week so I would trade smaller to allow for increased volatility.\r\n\r\nAs usual trade within your means, use your TRADE PLAN manage RISK with correct POSITION SIZING and STOP PLACEMENT.\r\n\r\nLongevity in trading is paramount to success. Success in trading is based mainly trading high probability trades with your RISKS MANAGED.\r\n\r\n&nbsp;\r\n\r\nTake care,\r\n\r\nScott Pickering\r\nThe Pip Accumulator\r\n<a href=\"https://weeklyfxdrivethru.com/disclaimer/\">https://weeklyfxdrivethru.com/disclaimer/\r\n</a>BLOG #178\r\n\r\n&nbsp;\r\n\r\n<strong><u> </u></strong>','DRAGHI PULLS NO PUNCHES','','inherit','closed','closed','','6850-revision-v1','','','2015-11-21 15:15:50','2015-11-21 20:15:50','',6850,'https://weeklyfxdrivethru.com/6850-revision-v1/',0,'revision','',0),(6853,1,'2015-11-21 18:02:02','2015-11-21 23:02:02','<p style=\"text-align: center;\"><strong>THE PREMIUM SERVICE</strong>\r\n<strong>from the</strong>\r\n<strong>WEEKLY FX DRIVE THRU</strong>\r\n<strong>“The Home of Single Lot Trading”</strong></p>\r\n<p style=\"text-align: center;\"><strong> </strong></p>\r\n\r\n<ol>\r\n	<li><strong> THE FX MARKET PLACE:</strong></li>\r\n</ol>\r\nLOOKING BACKWARDS, FORWARDS &amp; SIDEWAYS (FOR GOOD MEASURE) AT THE FX MARKET:\r\n\r\n1.1: LOOKING BACKWARDS:\r\n\r\nWhat a strange week we had last week, it seemed to just drift by, we had news, some of which gave a predictable market response, the rest did nothing really and we seemed to just plod along. Personally, I found it a little weird; I just cannot put my finger directly on the issue for some reason.\r\n\r\nNot to worry, moving on…\r\n\r\nWe had the FOMC minutes released from the last meeting. I think that I have fallen into the trap of powering down 24-36 hours ahead of data releases. The markets seem to go on hold eagerly awaiting any snippet of news from the FED to dissect, and to scrutinize every vowel, consonant and exclamation mark that is forthcoming. I am falling into the same pattern. I schedule myself around the FED announcements and psychologically I am probably disciplined subconsciously not to even think of trading 24-36 hours ahead of any announcement.\r\n\r\nThe FOMC minutes were so-so. You could argue both dovish and bearish. I think the fact that the dovish members of the committee were talking about the language to be used when talking about interest rates, tells me that the hawks are in control and that a hike is looming barring any catastrophes. Not that it could ever be that cut and dried but those are my thoughts.\r\n\r\nOn the other hand, Mario Draghi comes out pulling no punches at all. He spoke on both Monday and Friday last week, if you thought he was acting on Monday, on Friday it was the real deal. My main article this week is about the ECB, so I shall refrain from commenting further in this section.\r\n\r\nOther news of interest last week:\r\n<ul>\r\n	<li>The BOJ announced no more Quantitative easing (QE)…. for now.</li>\r\n	<li>The Australian monetary policy meeting minutes were neutral.</li>\r\n	<li>The GDT dairy prices were lower.</li>\r\n	<li>U.S. CPi data was in line.</li>\r\n	<li>Oil prices once again came under real pressure, as it appears storage is once again an issue, plus the rules of basic supply and demand are back in play.</li>\r\n	<li>Metal prices were hit really hard in the middle of the week and by the end of the week were attempting a bounce.</li>\r\n</ul>\r\nI think the continual state of flux hanging over the markets surrounding the FED rate hike is starting to have an effect. The reality of a rate hike is starting to resonate more with the markets in general and as a result trading volumes are reducing creating thinner markets with jumpy chop-chop moves.\r\n\r\nJust remember the dates below that I had in last week’s blog.\r\n\r\n&nbsp;\r\n<p style=\"text-align: center;\"><em>3<sup>rd</sup> December 2015: ECB meeting in Frankfurt with press conference.</em></p>\r\n<p style=\"text-align: center;\"><em>16<sup>th</sup> December 2015: FOMC meeting with press conference.</em></p>\r\n<p style=\"text-align: center;\"><em>At these meetings I am expecting: - </em></p>\r\n<p style=\"text-align: center;\"><em>ECB:</em></p>\r\n<p style=\"text-align: center;\"><em>Confirmation of more Quantitative Easing (QE) to be added to the existing program. </em></p>\r\n<p style=\"text-align: center;\"><em>A formal announcement of an extension of the existing program beyond September 2016. </em></p>\r\n<p style=\"text-align: center;\"><em>Details of an extension to the types of bonds to be purchased.</em></p>\r\n<p style=\"text-align: center;\"><em>A revision to the overnight deposit rate for central banks within the Eurozone.</em></p>\r\n<p style=\"text-align: center;\"><em>Revisions of Eurozone growth targets to lower levels for 2016-2017. </em></p>\r\n<p style=\"text-align: center;\"><em>FOMC:</em></p>\r\n<p style=\"text-align: center;\"><em>Confirmation of an initial rate increase, probably 0.25%.</em></p>\r\n<p style=\"text-align: center;\"><em>Details from the economic projections “the dots” will be amended.</em></p>\r\n<p style=\"text-align: center;\"><em>Information regarding when future rate increases could be introduced. </em></p>\r\n<p style=\"text-align: center;\"><em>A revision of 2016-2017 growth objectives.</em></p>\r\nIn addition to the above dates it was announced on Friday November 19th that the FED would make a special announcement on Monday the 23rd. I think the last times they did this type of announcement was in 2012.\r\n\r\nWe could be raising rates in November and NOT December, but the announcement could be something else, nothing to do with interest rates. However a quick meeting arranged and an announcement the same day, it sounds like preparing the statement that\'s all.\r\n\r\nPerhaps, the most likely reason for a FED announcement is more to do with the “Discount Rate” and only the “Discount Rate”, but wouldn’t it be something if they pulled the trigger now and did not wait. Why wait to raise rates if the conditions are right now?\r\n\r\n<em>The discount rate is the interest rate charged to commercial banks and other depository institutions on loans they receive from their regional Federal Reserve Bank\'s lending facility - the discount window. </em><em>www.federalreserve.gov/monetary policy/discountrate.htm</em>\r\n\r\n<em>It is rather a misleading term. The discount rate is the rate above the FED funds rate that banks and large institutions use. It is currently 0.75% above what is now refereed to as zirp! </em>\r\n\r\nIf the FED moves/amends the “Discount Rate”, this could be seen as a market mover, in my opinion, this all but confirms a December rate hike, but as stated earlier would the FOMC consider both on the same day?\r\n\r\nThis is some real food for thought.\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n1.2: LOOKING FORWARD:\r\n\r\nMAJOR FOREX NEWS THIS WEEK THAT INTERESTS ME:\r\n\r\n(There are many more news items related to the Forex Market other than the ones listed below. These are the ones that interest me. You can go to <a href=\"http://www.forexfactory.com\">www.forexfactory.com</a> and <a href=\"http://www.tradingeconomics.com\">www.tradingeconomics.com</a> for a more comprehensive lists of all news events that are Forex related).\r\nSUNDAY: N/A.\r\n\r\nMONDAY: EUR – French and German Flash Manufacturing PMi.\r\nMONDAY: USD – FED ANNOUNCEMENT.\r\n\r\nTUESDAY: AUD – Words of wisdom from Glenn Stevens (RBA) .\r\nTUESDAY: USD – GDP and Consumer Confidence.\r\n\r\nWEDNESDAY: NZD – Trade Balance.\r\n\r\nTHURSDAY: N/A.\r\n\r\nFRIDAY: N/A.\r\n\r\n&nbsp;\r\n\r\nMY THOUGHTS ON THE NEWS ITEMS THIS COMING WEEK:\r\n\r\nI am pre-occupied with the FED announcement on Monday. The meeting was hastily arranged last Thursday.\r\n\r\nAs I said it is probably the amendment of the “Discount Rate” but you never know.\r\n\r\nIt is a very light week on news, we also have the U.S. Thanksgiving holiday, which falls on Thursday. However, as you may know we have Black Friday sales, Cyber Monday the following week and basically people in the U.S. make longer weekends out these days. There are so many people driving and flying around we literally start to shut down from around lunchtime Tuesday for the week.\r\n\r\nI plan to complete my 2016 TRADE and MARKETING PLAN this week, whilst it’s quiet. About 3 years ago, I found myself caught up in a couple of trades that caused real pain to my broker account at this time.\r\n\r\nTherefore, in the words of the song by Ian Hunter “Once bitten twice shy”. I will be very light with regards to trading.\r\n\r\n&nbsp;\r\n\r\nMY KEY SUPPORT &amp; RESISTANCE LEVELS THIS WEEK FOR USD MAJORS<strong>:</strong>\r\n\r\nIn this section I have as usual kept my charts as minimalist as possible. All readers regardless of level of experience should be able to follow my thoughts from my comments to the levels on the charts with ease.\r\n\r\nAll of my thoughts, ideas and relevant comments are contained on the charts.\r\n\r\n&nbsp;\r\n\r\nEUR/USD - Weekly Closing Price: 1.646\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/EURUSD-M-21112015.png\"><img class=\"aligncenter size-large wp-image-6837\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/EURUSD-M-21112015-1024x514.png\" alt=\"EURUSD M 21112015\" width=\"1024\" height=\"514\" /></a>\r\n\r\n&nbsp;\r\n\r\nGBP/USD - Weekly Closing Price: 1.5193\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/GBPUSD-D-21112015.png\"><img class=\"aligncenter size-large wp-image-6836\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/GBPUSD-D-21112015-1024x514.png\" alt=\"GBPUSD D 21112015\" width=\"1024\" height=\"514\" /></a>\r\n\r\n&nbsp;\r\n\r\nAUD/USD - Weekly Closing Price: 0.7236\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/AUDUSD-3D-21112015.png\"><img class=\"aligncenter size-large wp-image-6838\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/AUDUSD-3D-21112015-1024x514.png\" alt=\"AUDUSD 3D 21112015\" width=\"1024\" height=\"514\" /></a>\r\n\r\n&nbsp;\r\n\r\nNZD/USD - Weekly Closing Price: 0.6568\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/NZDUSD-D-21112015.png\"><img class=\"aligncenter size-large wp-image-6835\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/NZDUSD-D-21112015-1024x514.png\" alt=\"NZDUSD D 21112015\" width=\"1024\" height=\"514\" /></a>\r\n\r\n&nbsp;\r\n\r\nUSD/CAD - Weekly Closing Price: 1.3345\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/USDCAD-D-21112015.png\"><img class=\"aligncenter size-large wp-image-6834\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/USDCAD-D-21112015-1024x514.png\" alt=\"USDCAD D 21112015\" width=\"1024\" height=\"514\" /></a>\r\n\r\n&nbsp;\r\n\r\nUSD/CHF - Weekly Closing Price: 1.0186\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/USDCHF-D-21112015.png\"><img class=\"aligncenter size-large wp-image-6833\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/USDCHF-D-21112015-1024x514.png\" alt=\"USDCHF D 21112015\" width=\"1024\" height=\"514\" /></a>\r\n\r\n&nbsp;\r\n\r\nUSD/JPY - Weekly Closing Price: 122.90\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/USDJPY-D-21112015.png\"><img class=\"aligncenter size-large wp-image-6832\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/USDJPY-D-21112015-1024x514.png\" alt=\"USDJPY D 21112015\" width=\"1024\" height=\"514\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n1.3: LOOKING SIDEWAYS (FOR GOOD MEASURE):\r\n\r\nAs mentioned recently, in this section of the blog, I will answer questions and look at various aspects of trading.\r\n\r\nI was asked last week by one of my subscribers, how do I manage with 10-15 live trades and sometimes up to the same number again with limit orders waiting to trigger, bearing in mind I can have multiple trades open with the same currency pair.\r\n\r\nMy initial answer was plenty of Jack Daniels or Knob Creek.\r\n\r\nMoving on…\r\n\r\nThe question emanated from last weeks article in this section of the blog about divergent FUNDAMENTAL trades that I am now providing.\r\n\r\nI raised the issue with my subscribers, that if they traded all types of my trade set-ups, RADAR, FLASH and FUNDAMENTAL, given the fact that I expect the number of FUNDAMENTAL trades could reach 10-15 live with 5-10 limit orders waiting, would this just swamp their existing account? Maybe it would be a good idea to open a fresh broker account to handle just FUNDAMENTAL trades.\r\n\r\nPersonally, I trade several accounts to manage all my trade set-ups, and by doing this it makes accounting very manageable from my perspective.\r\n\r\nIf I have all my FUNDAMENTAL trades in one broker account, not only are my screens easier to follow, but more importantly, I do not need to look at trades to see are they FLASH or FUNDAMENTAL. In addition it also gives me an instant measurement of performance. I have key objectives to achieve that I have set myself and separation gives me immediate clarification.\r\n\r\nI have three other broker accounts that contain my FLASH and RADAR trades broken down into two categories USD majors and the rest.\r\n\r\nBy doing this it allows me to concentrate on the FLASH trades, which are opportunist trades looking for 10-30 pips. Again through separation I can see the wood from the trees.\r\n\r\nRADAR trades based off limit order entries tend to have a longer life span and can therefore be left alone for a while as the price targets are usually between Fibonacci levels / Horizontal supports. As you know though, of late, all trades have required micro-management to some degree; as it has become a day traders market.\r\n\r\nTherefore, managing multiple trades is made much easier through segregation in my opinion. I have no super-power skills. This approach works for me and I find that it compliments my way of trading.\r\n\r\n&nbsp;\r\n\r\n<strong> </strong>\r\n<ol start=\"2\">\r\n	<li><strong> WHAT’S ON MY MIND:</strong></li>\r\n</ol>\r\n<p style=\"text-align: center;\"><strong>DRAGHI PULLS NO PUNCHES</strong></p>\r\nRegular followers of my blogs since 2012 will be aware that on numerous occasions I have called out the EUROZONE and ECB for basic incompetence, inept management, poor leadership, reactive policies and avoidance of management of specific problems.\r\n\r\nI do not think that the elected Eurozone leaders have done anything at all to change any of my long felt thoughts and beliefs about the way they leap from problem to problem not fixing anything, hoping the problem goes away or is fixed by someone else aka “kicking the can down the road”.\r\n\r\nBehind all of this Mario Draghi, I must admit not averse to a little “can kicking” himself from time to time, carries on trying to keep together another Eurozone blunder called the European Central Bank (ECB).\r\n\r\nThe ECB was designed when times were good, by Germany and France and never modeled to test multiple members pushing and pulling within the constraints of a currency union.\r\n\r\nThe Euro the official currency of the Eurozone, is used by 19 of the 28 member states: -\r\nAustria, Belgium, Cyprus, Estonia, Finland, France, Germany, Greece, Ireland, Italy, Latvia, Lithuania, Luxembourg, Malta, the Netherlands, Portugal, Slovakia, Slovenia, and Spain.\r\n\r\nThere are 19 countries with 19 different tax regimes, 19 different growth expectations based upon their industries and services, 19 different population sizes, ages and country by country differences of unemployment problems from youth to permanently unemployed, and the biggest issue of 19 different countries using effectively the same cheque-book with 19 completely different cultures.\r\n\r\nA recipe for disaster, if ever there was one.\r\n\r\nFor his sins, to get by Mario Draghi has to operate within a very tight mandate to manage a central bank. To add to the complexity of his job profile, beneath him lie 19 elected country finance ministers focused on their own country’s requirements and needs. Mario Draghi has to manage these individual countries from a distance, or I prefer from so high up where the air is thin, that it’s difficult to breathe and try to keep the ECB monetary policy fair to all member states. This he has to do whilst at the same doing what Germany says without it looking that way.\r\n\r\nWith this as my brief backdrop to the Eurozone and ECB you would not be surprised if Mario Draghi drank a bit and you would, well at least I would, cut him some slack.\r\n\r\nGod help him, he has the likes of Wolfgang Scheauble (German Finance Minister), Jens Weidmann (President of the Bundesbank), the guy responsible for all the German dosh and members of the ECB committee like Ewald Nowotny (President of the National Bank of Austria) all loving the sound of their own voices so much they love speaking to the media and undermine much of the good work that Mario Draghi is trying to lead through the ECB and Eurozone with ECB monetary policy. You can forgive Draghi the odd can-kick when you consider the environment he has to work within.\r\n\r\nAn objective of 2% inflation hangs like a ball and chain around Draghi’s neck. He is dealing with DEFLATION for almost two years, if not longer depending upon how you want to interpret statistics. No central banker in the history of the world has the cure for DEFLATION.\r\n\r\nIn an attempt to deflect away from the dreaded “D” word, many central bankers started by Ben Bernanke (Ex FED Chairman) started calling DEFLATION disinflation… yeah right that sounds better and not as tragic.\r\n\r\nIf a single country cannot cure DEFLATION - what chance does Draghi have with 19 countries rolled into 1? The answer = bugger all.\r\n\r\nInside the Eurozone since the financial crisis in 2008 there continues to be unprecedented levels of unemployment (in particular youth), failing social support (health, social and family benefits), lack of infrastructure investment, and most of the 19 countries have a reduced tax income due to massive unemployment and austerity measures which were pushed onto them that they could not afford. In addition, Greece was granted bailouts that have little chance of repayment. Add all of these together and they form the contents of the cauldron that the Eurozone witch Angela Merkel and her sidekick Wolfgang “the pit-bull” Schaeuble have concocted.\r\n\r\nMost of these issues should be dealt with and managed by local central governments but many of these with hands tied look to the ECB for assistance. I have often called Draghi, Angela Merkel’s puppet. I still believe to a large extent he is, but every now and then he comes out fighting and delivers a speech to make matters 100% clear without ambiguity. He made such a speech last Friday at the European Banking Congress in Frankfurt.\r\n\r\nFair play to Mario Draghi, with all of the issues that he has to deal with and manage, he has now left the markets in no uncertain terms about how the cookie is going to crumble. There is for once in the Eurozone no can kicking and no ambiguity, even the dumbest commentator or analyst are left without doubt.\r\n\r\nHere are the key points he referenced: -\r\n<ul>\r\n	<li>Inflation in the Eurozone is slipping fast.</li>\r\n	<li>There is too much slack in the Eurozone economy.</li>\r\n	<li>The effect of lower oil process is keeping inflation low.</li>\r\n	<li>He is looking to increase / expand the current €1.1 trillion QE program.</li>\r\n	<li>The ECB is thinking of moving the overnight deposit rate paid by the ECB further below zero in an attempt to force central banks to place more money into the economy.</li>\r\n	<li>Core inflation excluding energy and food is still too weak.</li>\r\n	<li>No real wage growth.</li>\r\n</ul>\r\nIt\'s a great read and a very sad reflection that since the financial crash of 2008, almost 8 years later following the German failed policy of austerity the Eurozone is still deep in the sh*t. Yes there are green shoots dotted about but in general it reflects a complete disaster of policy that has failed.\r\n\r\nDraghi will have QE for at least another two years in my opinion and then he has to taper.\r\n\r\nMerkel and the Pit-bull who have been against QE (they favour the f**k up called austerity) are probably more onside now given the VW scandal and the fact that exports are under pressure as a world slowdown is in play. The world is in slowdown mode, so who will the German manufacturers sell finished goods to if there are no buyers? At least if it is cheaper to buy German products due to lower exchange rates via QE polices the German exporters have a chance of selling in a depressed market.\r\n\r\nYup… central bank policy divergence is coming to a trade desk and computer screen near you very soon, in fact it has started.\r\n\r\nThe markets tried to bounce the oversold EUR/USD off 1.0630 lows after the FOMC meeting minutes were released. Even the grossly oversold at that point EUR/USD couldn’t bounce to more than 1.7050. After Draghi’s speech and the reality of what he had said resonated, it took a few hours to sink in, there is defiance in the markets, but when it finally sank in, the EUR/USD fell back to its lows once again below 1.0650.\r\n\r\n<strong> </strong>\r\n<ol start=\"3\">\r\n	<li><strong> THE PREMIUM SERVICE:</strong></li>\r\n</ol>\r\n3.1: SUMMARY OF YEAR TO DATE PERFORMANCE - 2015:\r\n<p style=\"text-align: center;\">PREMIUM SERVICE – COST INCOME ANALYSIS (USD):\r\nPROFITS FROM TRADES COMPLETED THIS YEAR – to November 21st 2015.</p>\r\n<p style=\"text-align: center;\">MICRO LOT TRADER - 641 trades cost to trade = $64.10\r\n<strong>PROFIT</strong> from 641 trades = <strong>$1,212.80\r\n</strong>(You spend $64.10 on trades and your gross return is $1,212.80)</p>\r\n<p style=\"text-align: center;\">MINI LOT TRADER - 641 trades cost to trade = $641.00\r\n<strong>PROFIT</strong> from 641 trades = <strong>$12,128.00\r\n</strong>(You spend $641.00 on trades and your gross return is $1,212.80)</p>\r\n<p style=\"text-align: center;\">STANDARD LOT TRADER - 641 trades cost to trade = $6,410.00\r\n<strong>PROFIT</strong> from 641 trades = <strong>$121,280.00\r\n</strong>(You spend $6,410.00 on trades and your gross return is $1,212.80)</p>\r\n<p style=\"text-align: center;\"><strong>The profit levels below are based on single lot trades only; obviously if you trade with two lots the returns double and so on…………</strong></p>\r\nNOTES:\r\n<ul>\r\n	<li>If the above return from Forex Trading interests you go to my website landing page at <a href=\"http://www.weeklyfxdrivethru.com\">weeklyfxdrivethru.com</a> and check out the subscription options and special promotions under the tabs “PREMIUM SERVICE” and “PROMOTIONS”</li>\r\n	<li>If you want more data about the performance and my website does not answer your questions, contact me directly and I will supply the data you require.</li>\r\n	<li>THE PREMIUM SERVICE has subscribers with broker accounts of sizes ranging from $2,500 to over $100,000. A profitable trade is a profitable trade. It is all about trading according to the size of your broker account with EFFECTIVE POSITION SIZING and applying RISK MANAGEMENT principles at all times</li>\r\n</ul>\r\n&nbsp;\r\n\r\n3.2: PREMIUM SERVICE – 2015 PERFORMANCE TO DATE:\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/PS-PROFITS1-21112015.png\"><img class=\"aligncenter size-full wp-image-6821\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/PS-PROFITS1-21112015.png\" alt=\"PS PROFITS1 21112015\" width=\"527\" height=\"419\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/PREM-SERV-PROFITS2-21112015.png\"><img class=\"aligncenter size-full wp-image-6822\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/PREM-SERV-PROFITS2-21112015.png\" alt=\"PREM SERV PROFITS2 21112015\" width=\"538\" height=\"416\" /></a>\r\n\r\n3.3: PREMIUM SERVICE – 2014 TOTAL PERFORMANCE:\r\n\r\n<strong> <a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/PS-PROFITS-2014.png\"><img class=\"aligncenter size-full wp-image-6791\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/PS-PROFITS-2014.png\" alt=\"PS PROFITS 2014\" width=\"529\" height=\"487\" /></a></strong>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n3.4: PREMIUM SERVICE – DIVERGENT FUNDAMENTAL TRADES:\r\n\r\n&nbsp;\r\n<p style=\"text-align: center;\"><strong>AT LAST AN OPTION FOR THE PART-TIME TRADER\r\n</strong><strong>HOWEVER\r\n</strong><strong>ALL TRADERS CAN OBVIOUSLY BENEFIT</strong></p>\r\nI have talked recently about central bank policy divergence and how this should bring a more directional market to Forex.\r\n\r\nI have in the past been using my FUNDAMENTAL trade style primarily for commodity cross-rate pairs and whilst this has been successful, I decided in Q3 2015 to look a little closer at my subscriber make–up and I discovered that I could do more for my subscribers who I class as part-time.\r\n\r\nPart-time from my perspective means: A trader who is unable to access their computer for whatever reason at will and who therefore only really has two or three times a day to check on trades.\r\n\r\nObviously many brokers (all of my recommended brokers with banners on my website included) offer iOS and Android options to keep you in touch with your trading progress, which is great but some occupations exclude this access as well during the day.\r\n\r\nDIVERGENT FUNDAMENTAL TRADES, I believe offer a great solution to trading for part-time traders as they are longer-term position style trades.\r\n\r\nI had been working on these trades since September only based on what conditions should be in 2016-2017. As time progresses and the reality of what is ahead has finally hit home, the trade results got stronger and stronger. So much so I launched this type of trade with my existing PREMIUM SERVICE subscribers on November 1<sup>st</sup>, with the view of a December lift-off after the FOMC and ECB meetings.\r\n\r\nThe results so far have amazed me, 1,441 pips in November from completed trades is the net result. (Profits were taken on core trades only after NFP)\r\n\r\nThe PREMIUM SERVICE this year so far is ahead of my 2014 performance. This year so far the net result on pips generated in total is 12,128. This involves total dedicated almost round the clock access to computer screens and minimal sleep to achieve the best entries and exits.\r\n\r\nNot everyone can live that lifestyle, or maybe wants to.\r\n\r\nI will be releasing a special blog on DIVERGENT FUNDAMENTAL TRADES very soon.\r\n\r\nThe blog will be published on my website <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a> it will be sent to all people who are subscribers to the FREE NEWSLETTER (to subscribe to the FREE NEWSLETTER go to my landing page on the right hand side about 50% down), and it will posted to several social media options.\r\n\r\nIf you want to read more about this - sign up on my website. A 5 minute read could generate $$$$ for you and your family.\r\n\r\n&nbsp;\r\n\r\n<strong> </strong>\r\n<ol start=\"4\">\r\n	<li><strong> PREMIUM SERVICE (GOLD) EXCLUSIVE CONTENT:</strong></li>\r\n</ol>\r\n(This area contains exclusive content for PREMIUM SERVICE (GOLD) subscribers)\r\n\r\n4.1: THE PREMIUM SERVICE – TRADING REVIEW:\r\n\r\n4.2: THE DIVERGENT CB MONETARY POLICY – FUNDAMENTAL TRADES:\r\n\r\n4.3: CHANGES TO MY PREFERRED FX BROKER LINEUP:\r\n\r\n4.4: REVISIONS TO TRADE STYLE DEFINITIONS:\r\n\r\n4.5: MAJOR TRADING PAIRS WITH LONGER-TERM MATCHING TRENDS:\r\n\r\n4.6: THE PREMIUM SERVICE - LIVE TRADES ARE:\r\n\r\n4.7: THE PREMIUM SERVICE – LIMIT ORDER TRADES ARE:\r\n\r\n4.8: POTENTIAL TRADES - WHAT PAIRS / CHARTS AM I LOOKING AT?\r\n\r\n<strong> </strong>\r\n\r\n<strong> </strong>\r\n<ol start=\"5\">\r\n	<li><strong> MY FINAL THOUGHTS:</strong></li>\r\n</ol>\r\nOVERVIEW OF TRADING TIPS &amp; THOUGHTS FOR THE WEEK AHEAD:\r\n\r\nThis will be a strange week.\r\n\r\nWe have a FED announcement on Monday that could be a pre-cursor to the rate hike next month. This week could be the week that sets the tone for the next two years. Mario Draghi has already played his hand, it is just a case of how much more and until when with regards to QE in the Eurozone.\r\n\r\nI am expecting very thin markets this coming week so I would trade smaller to allow for increased volatility.\r\n\r\nAs usual trade within your means, use your TRADE PLAN manage RISK with correct POSITION SIZING and STOP PLACEMENT.\r\n\r\nLongevity in trading is paramount to success. Success in trading is based mainly trading high probability trades with your RISKS MANAGED.\r\n\r\n&nbsp;\r\n\r\nTake care,\r\n\r\nScott Pickering\r\nThe Pip Accumulator\r\n<a href=\"https://weeklyfxdrivethru.com/disclaimer/\">https://weeklyfxdrivethru.com/disclaimer/\r\n</a>BLOG #178\r\n\r\n&nbsp;\r\n\r\n<strong><u> </u></strong>','DRAGHI PULLS NO PUNCHES','','inherit','closed','closed','','6850-revision-v1','','','2015-11-21 18:02:02','2015-11-21 23:02:02','',6850,'https://weeklyfxdrivethru.com/6850-revision-v1/',0,'revision','',0),(6854,1,'2015-11-21 18:03:32','2015-11-21 23:03:32','<p style=\"text-align: center;\"><strong>THE PREMIUM SERVICE</strong>\r\n<strong>from the</strong>\r\n<strong>WEEKLY FX DRIVE THRU</strong>\r\n<strong>“The Home of Single Lot Trading”</strong></p>\r\n&nbsp;\r\n<ol>\r\n	<li><strong> THE FX MARKET PLACE:</strong></li>\r\n</ol>\r\nLOOKING BACKWARDS, FORWARDS &amp; SIDEWAYS (FOR GOOD MEASURE) AT THE FX MARKET:\r\n\r\n1.1: LOOKING BACKWARDS:\r\n\r\nWhat a strange week we had last week, it seemed to just drift by, we had news, some of which gave a predictable market response, the rest did nothing really and we seemed to just plod along. Personally, I found it a little weird; I just cannot put my finger directly on the issue for some reason.\r\n\r\nNot to worry, moving on…\r\n\r\nWe had the FOMC minutes released from the last meeting. I think that I have fallen into the trap of powering down 24-36 hours ahead of data releases. The markets seem to go on hold eagerly awaiting any snippet of news from the FED to dissect, and to scrutinze every vowel, consonant and exclamation mark that is forthcoming. I am falling into the same pattern. I schedule myself around the FED announcements and psychologically I am probably disciplined subconsciously not to even think of trading 24-36 hours ahead of any announcement.\r\n\r\nThe FOMC minutes were so-so. You could argue both dovish and bearish. I think the fact that the dovish members of the committee were talking about the language to be used when talking about interest rates, tells me that the hawks are in control and that a hike is looming barring any catastrophes. Not that it could ever be that cut and dried but those are my thoughts.\r\n\r\nOn the other hand, Mario Draghi comes out pulling no punches at all. He spoke on both Monday and Friday last week, if you thought he was acting on Monday, on Friday it was the real deal. My main article this week is about the ECB, so I shall refrain from commenting further in this section.\r\n\r\nOther news of interest last week:\r\n<ul>\r\n	<li>The BOJ announced no more Quantitative easing (QE)…. for now.</li>\r\n	<li>The Australian monetary policy meeting minutes were neutral.</li>\r\n	<li>The GDT dairy prices were lower.</li>\r\n	<li>U.S. CPi data was in line.</li>\r\n	<li>Oil prices once again came under real pressure, as it appears storage is once again an issue, plus the rules of basic supply and demand are back in play.</li>\r\n	<li>Metal prices were hit really hard in the middle of the week and by the end of the week were attempting a bounce.</li>\r\n</ul>\r\nI think the continual state of flux hanging over the markets surrounding the FED rate hike is starting to have an effect. The reality of a rate hike is starting to resonate more with the markets in general and as a result trading volumes are reducing creating thinner markets with jumpy chop-chop moves.\r\n\r\nJust remember the dates below that I had in last week’s blog.\r\n<p style=\"text-align: center;\"><em>3<sup>rd</sup> December 2015: ECB meeting in Frankfurt with press conference.</em></p>\r\n<p style=\"text-align: center;\"><em>16<sup>th</sup> December 2015: FOMC meeting with press conference.</em><em> </em></p>\r\n<p style=\"text-align: center;\"><em>At these meetings I am expecting: - </em></p>\r\n<p style=\"text-align: center;\"><em>ECB:</em></p>\r\n<p style=\"text-align: center;\"><em>Confirmation of more Quantitative Easing (QE) to be added to the existing program. </em></p>\r\n<p style=\"text-align: center;\"><em>A formal announcement of an extension of the existing program beyond September 2016. </em></p>\r\n<p style=\"text-align: center;\"><em>Details of an extension to the types of bonds to be purchased.</em></p>\r\n<p style=\"text-align: center;\"><em>A revision to the overnight deposit rate for central banks within the Eurozone.</em></p>\r\n<p style=\"text-align: center;\"><em>Revisions of Eurozone growth targets to lower levels for 2016-2017.</em></p>\r\n<p style=\"text-align: center;\"><em>FOMC:</em></p>\r\n<p style=\"text-align: center;\"><em>Confirmation of an initial rate increase, probably 0.25%.</em></p>\r\n<p style=\"text-align: center;\"><em>Details from the economic projections “the dots” will be amended.</em></p>\r\n<p style=\"text-align: center;\"><em>Information regarding when future rate increases could be introduced. </em></p>\r\n<p style=\"text-align: left;\"><em>A revision of 2016-2017 growth objectives.</em>In addition to the above dates it was announced on Friday November 19th that the FED would make a special announcement on Monday the 23rd. I think the last times they did this type of announcement was in 2012.</p>\r\nWe could be raising rates in November and NOT December, but the announcement could be something else, nothing to do with interest rates. However a quick meeting arranged and an announcement the same day, it sounds like preparing the statement that\'s all.\r\n\r\nPerhaps, the most likely reason for a FED announcement is more to do with the “Discount Rate” and only the “Discount Rate”, but wouldn’t it be something if they pulled the trigger now and did not wait. Why wait to raise rates if the conditions are right now?\r\n\r\n<em>The discount rate is the interest rate charged to commercial banks and other depository institutions on loans they receive from their regional Federal Reserve Bank\'s lending facility - the discount window. </em><em>www.federalreserve.gov/monetary policy/discountrate.htm</em>\r\n\r\n<em>It is rather a misleading term. The discount rate is the rate above the FED funds rate that banks and large institutions use. It is currently 0.75% above what is now refereed to as zirp! </em>\r\n\r\nIf the FED moves/amends the “Discount Rate”, this could be seen as a market mover, in my opinion, this all but confirms a December rate hike, but as stated earlier would the FOMC consider both on the same day?\r\n\r\nThis is some real food for thought.\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n1.2: LOOKING FORWARD:\r\n\r\nMAJOR FOREX NEWS THIS WEEK THAT INTERESTS ME:\r\n\r\n(There are many more news items related to the Forex Market other than the ones listed below. These are the ones that interest me. You can go to <a href=\"http://www.forexfactory.com\">www.forexfactory.com</a> and <a href=\"http://www.tradingeconomics.com\">www.tradingeconomics.com</a> for a more comprehensive lists of all news events that are Forex related).\r\nSUNDAY: N/A.\r\n\r\nMONDAY: EUR – French and German Flash Manufacturing PMi.\r\nMONDAY: USD – FED ANNOUNCEMENT.\r\n\r\nTUESDAY: AUD – Words of wisdom from Glenn Stevens (RBA) .\r\nTUESDAY: USD – GDP and Consumer Confidence.\r\n\r\nWEDNESDAY: NZD – Trade Balance.\r\n\r\nTHURSDAY: N/A.\r\n\r\nFRIDAY: N/A.\r\n\r\n&nbsp;\r\n\r\nMY THOUGHTS ON THE NEWS ITEMS THIS COMING WEEK:\r\n\r\nI am pre-occupied with the FED announcement on Monday. The meeting was hastily arranged last Thursday.\r\n\r\nAs I said it is probably the amendment of the “Discount Rate” but you never know.\r\n\r\nIt is a very light week on news, we also have the U.S. Thanksgiving holiday, which falls on Thursday. However, as you may know we have Black Friday sales, Cyber Monday the following week and basically people in the U.S. make longer weekends out these days. There are so many people driving and flying around we literally start to shut down from around lunchtime Tuesday for the week.\r\n\r\nI plan to complete my 2016 TRADE and MARKETING PLAN this week, whilst it’s quiet. About 3 years ago, I found myself caught up in a couple of trades that caused real pain to my broker account at this time.\r\n\r\nTherefore, in the words of the song by Ian Hunter “Once bitten twice shy”. I will be very light with regards to trading.\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\nMY KEY SUPPORT &amp; RESISTANCE LEVELS THIS WEEK FOR USD MAJORS<strong>:</strong>\r\n\r\nIn this section I have as usual kept my charts as minimalist as possible. All readers regardless of level of experience should be able to follow my thoughts from my comments to the levels on the charts with ease.\r\n\r\nAll of my thoughts, ideas and relevant comments are contained on the charts.\r\n\r\nEUR/USD - Weekly Closing Price: 1.646\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/EURUSD-M-21112015.png\"><img class=\"aligncenter size-large wp-image-6837\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/EURUSD-M-21112015-1024x514.png\" alt=\"EURUSD M 21112015\" width=\"1024\" height=\"514\" /></a>\r\n\r\n&nbsp;\r\n\r\nGBP/USD - Weekly Closing Price: 1.5193\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/GBPUSD-D-21112015.png\"><img class=\"aligncenter size-large wp-image-6836\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/GBPUSD-D-21112015-1024x514.png\" alt=\"GBPUSD D 21112015\" width=\"1024\" height=\"514\" /></a>\r\n\r\n&nbsp;\r\n\r\nAUD/USD - Weekly Closing Price: 0.7236\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/AUDUSD-3D-21112015.png\"><img class=\"aligncenter size-large wp-image-6838\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/AUDUSD-3D-21112015-1024x514.png\" alt=\"AUDUSD 3D 21112015\" width=\"1024\" height=\"514\" /></a>\r\n\r\n&nbsp;\r\n\r\nNZD/USD - Weekly Closing Price: 0.6568\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/NZDUSD-D-21112015.png\"><img class=\"aligncenter size-large wp-image-6835\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/NZDUSD-D-21112015-1024x514.png\" alt=\"NZDUSD D 21112015\" width=\"1024\" height=\"514\" /></a>\r\n\r\n&nbsp;\r\n\r\nUSD/CAD - Weekly Closing Price: 1.3345\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/USDCAD-D-21112015.png\"><img class=\"aligncenter size-large wp-image-6834\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/USDCAD-D-21112015-1024x514.png\" alt=\"USDCAD D 21112015\" width=\"1024\" height=\"514\" /></a>\r\n\r\n&nbsp;\r\n\r\nUSD/CHF - Weekly Closing Price: 1.0186\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/USDCHF-D-21112015.png\"><img class=\"aligncenter size-large wp-image-6833\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/USDCHF-D-21112015-1024x514.png\" alt=\"USDCHF D 21112015\" width=\"1024\" height=\"514\" /></a>\r\n\r\n&nbsp;\r\n\r\nUSD/JPY - Weekly Closing Price: 122.90\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/USDJPY-D-21112015.png\"><img class=\"aligncenter size-large wp-image-6832\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/USDJPY-D-21112015-1024x514.png\" alt=\"USDJPY D 21112015\" width=\"1024\" height=\"514\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n1.3: LOOKING SIDEWAYS (FOR GOOD MEASURE):\r\n\r\nAs mentioned recently, in this section of the blog, I will answer questions and look at various aspects of trading.\r\n\r\nI was asked last week by one of my subscribers, how do I manage with 10-15 live trades and sometimes up to the same number again with limit orders waiting to trigger, bearing in mind I can have multiple trades open with the same currency pair.\r\n\r\nMy initial answer was plenty of Jack Daniels or Knob Creek.\r\n\r\nMoving on…\r\n\r\nThe question emanated from last week\'s article in this section of the blog about divergent FUNDAMENTAL trades that I am now providing.\r\n\r\nI raised the issue with my subscribers, that if they traded all types of my trade set-ups, RADAR, FLASH and FUNDAMENTAL, given the fact that I expect the number of FUNDAMENTAL trades could reach 10-15 live with 5-10 limit orders waiting, would this just swamp their existing account? Maybe it would be a good idea to open a fresh broker account to handle just FUNDAMENTAL trades.\r\n\r\nPersonally, I trade several accounts to manage all my trade set-ups, and by doing this it makes accounting very manageable from my perspective.\r\n\r\nIf I have all my FUNDAMENTAL trades in one broker account, not only are my screens easier to follow, but more importantly, I do not need to look at trades to see are they FLASH or FUNDAMENTAL. In addition, it also gives me an instant measurement of performance. I have key objectives to achieve that I have set myself and separation gives me immediate clarification.\r\n\r\nI have three other broker accounts that contain my FLASH and RADAR trades broken down into two categories USD majors and the rest.\r\n\r\nBy doing this it allows me to concentrate on the FLASH trades, which are opportunist trades looking for 10-30 pips. Again through separation I can see the wood from the trees.\r\n\r\nRADAR trades based off limit order entries tend to have a longer life span and can therefore be left alone for a while as the price targets are usually between Fibonacci levels / Horizontal supports. As you know though, of late, all trades have required micro-management to some degree; as it has become a day traders market.\r\n\r\nTherefore, managing multiple trades is made much easier through segregation in my opinion. I have no super-power skills. This approach works for me and I find that it compliments my way of trading.\r\n\r\n&nbsp;\r\n\r\n<strong> </strong>\r\n<ol start=\"2\">\r\n	<li><strong> WHAT’S ON MY MIND:</strong></li>\r\n</ol>\r\n<p style=\"text-align: center;\"><strong>DRAGHI PULLS NO PUNCHES</strong></p>\r\nRegular followers of my blogs since 2012 will be aware that on numerous occasions I have called out the EUROZONE and ECB for basic incompetence, inept management, poor leadership, reactive policies and avoidance of management of specific problems.\r\n\r\nI do not think that the elected Eurozone leaders have done anything at all to change any of my long felt thoughts and beliefs about the way they leap from problem to problem not fixing anything, hoping the problem goes away or is fixed by someone else aka “kicking the can down the road”.\r\n\r\nBehind all of this Mario Draghi, I must admit not averse to a little “can kicking” himself from time to time, carries on trying to keep together another Eurozone blunder called the European Central Bank (ECB).\r\n\r\nThe ECB was designed when times were good, by Germany and France and never modeled to test multiple members pushing and pulling within the constraints of a currency union.\r\n\r\nThe Euro the official currency of the Eurozone, is used by 19 of the 28 member states: -\r\nAustria, Belgium, Cyprus, Estonia, Finland, France, Germany, Greece, Ireland, Italy, Latvia, Lithuania, Luxembourg, Malta, the Netherlands, Portugal, Slovakia, Slovenia, and Spain.\r\n\r\nThere are 19 countries with 19 different tax regimes, 19 different growth expectations based upon their industries and services, 19 different population sizes, ages and country by country differences of unemployment problems from youth to permanently unemployed, and the biggest issue of 19 different countries using effectively the same cheque-book with 19 completely different cultures.\r\n\r\nA recipe for disaster, if ever there was one.\r\n\r\nFor his sins, to get by Mario Draghi has to operate within a very tight mandate to manage a central bank. To add to the complexity of his job profile, beneath him lie 19 elected country finance ministers focused on their own country’s requirements and needs. Mario Draghi has to manage these individual countries from a distance, or I prefer from so high up where the air is thin, that it’s difficult to breathe and try to keep the ECB monetary policy fair to all member states. This he has to do whilst at the same doing what Germany says without it looking that way.\r\n\r\nWith this as my brief backdrop to the Eurozone and ECB you would not be surprised if Mario Draghi drank a bit and you would, well at least I would, cut him some slack.\r\n\r\nGod help him, he has the likes of Wolfgang Scheauble (German Finance Minister), Jens Weidmann (President of the Bundesbank), the guy responsible for all the German dosh and members of the ECB committee like Ewald Nowotny (President of the National Bank of Austria) all loving the sound of their own voices so much they love speaking to the media and undermine much of the good work that Mario Draghi is trying to lead through the ECB and Eurozone with ECB monetary policy. You can forgive Draghi the odd can-kick when you consider the environment he has to work within.\r\n\r\nAn objective of 2% inflation hangs like a ball and chain around Draghi’s neck. He is dealing with DEFLATION for almost two years, if not longer depending upon how you want to interpret statistics. No central banker in the history of the world has the cure for DEFLATION.\r\n\r\nIn an attempt to deflect away from the dreaded “D” word, many central bankers started by Ben Bernanke (Ex FED Chairman) started calling DEFLATION disinflation… yeah right that sounds better and not as tragic.\r\n\r\nIf a single country cannot cure DEFLATION - what chance does Draghi have with 19 countries rolled into 1? The answer = bugger all.\r\n\r\nInside the Eurozone since the financial crisis in 2008 there continues to be unprecedented levels of unemployment (in particular youth), failing social support (health, social and family benefits), lack of infrastructure investment, and most of the 19 countries have a reduced tax income due to massive unemployment and austerity measures which were pushed onto them that they could not afford. In addition, Greece was granted bailouts that have little chance of repayment. Add all of these together and they form the contents of the cauldron that the Eurozone witch Angela Merkel and her sidekick Wolfgang “the pit-bull” Schaeuble have concocted.\r\n\r\nMost of these issues should be dealt with and managed by local central governments but many of these with hands tied look to the ECB for assistance. I have often called Draghi, Angela Merkel’s puppet. I still believe to a large extent he is, but every now and then he comes out fighting and delivers a speech to make matters 100% clear without ambiguity. He made such a speech last Friday at the European Banking Congress in Frankfurt.\r\n\r\nFair play to Mario Draghi, with all of the issues that he has to deal with and manage, he has now left the markets in no uncertain terms about how the cookie is going to crumble. There is for once in the Eurozone no can kicking and no ambiguity, even the dumbest commentator or analyst are left without doubt.\r\n\r\nHere are the key points he referenced: -\r\n<ul>\r\n	<li>Inflation in the Eurozone is slipping fast.</li>\r\n	<li>There is too much slack in the Eurozone economy.</li>\r\n	<li>The effect of lower oil process is keeping inflation low.</li>\r\n	<li>He is looking to increase / expand the current €1.1 trillion QE program.</li>\r\n	<li>The ECB is thinking of moving the overnight deposit rate paid by the ECB further below zero in an attempt to force central banks to place more money into the economy.</li>\r\n	<li>Core inflation excluding energy and food is still too weak.</li>\r\n	<li>No real wage growth.</li>\r\n</ul>\r\nIt\'s a great read and a very sad reflection that since the financial crash of 2008, almost 8 years later following the German failed policy of austerity the Eurozone is still deep in the sh*t. Yes there are green shoots dotted about but in general it reflects a complete disaster of policy that has failed.\r\n\r\nDraghi will have QE for at least another two years in my opinion and then he has to taper.\r\n\r\nMerkel and the Pit-bull who have been against QE (they favour the f**k up called austerity) are probably more onside now given the VW scandal and the fact that exports are under pressure as a world slowdown is in play. The world is in slowdown mode, so who will the German manufacturers sell finished goods to if there are no buyers? At least if it is cheaper to buy German products due to lower exchange rates via QE polices the German exporters have a chance of selling in a depressed market.\r\n\r\nYup… central bank policy divergence is coming to a trade desk and computer screen near you very soon, in fact it has started.\r\n\r\nThe markets tried to bounce the oversold EUR/USD off 1.0630 lows after the FOMC meeting minutes were released. Even the grossly oversold at that point EUR/USD couldn’t bounce to more than 1.7050. After Draghi’s speech and the reality of what he had said resonated, it took a few hours to sink in, there is defiance in the markets, but when it finally sank in, the EUR/USD fell back to its lows once again below 1.0650.\r\n\r\n&nbsp;\r\n<ol start=\"3\">\r\n	<li><strong> THE PREMIUM SERVICE:</strong></li>\r\n</ol>\r\n3.1: SUMMARY OF YEAR TO DATE PERFORMANCE - 2015:\r\n<p style=\"text-align: center;\"><strong>PREMIUM SERVICE – COST INCOME ANALYSIS (USD):</strong></p>\r\n<p style=\"text-align: center;\">PROFITS FROM TRADES COMPLETED THIS YEAR – to November 21st 2015.</p>\r\n<p style=\"text-align: center;\">MICRO LOT TRADER - 641 trades cost to trade = $64.10\r\n<strong>PROFIT</strong> from 641 trades = <strong>$1,212.80\r\n</strong>(You spend $64.10 on trades and your gross return is $1,212.80)</p>\r\n<p style=\"text-align: center;\">MINI LOT TRADER - 641 trades cost to trade = $641.00\r\n<strong>PROFIT</strong> from 641 trades = <strong>$12,128.00\r\n</strong>(You spend $641.00 on trades and your gross return is $1,212.80)</p>\r\n<p style=\"text-align: center;\">STANDARD LOT TRADER - 641 trades cost to trade = $6,410.00\r\n<strong>PROFIT</strong> from 641 trades = <strong>$121,280.00\r\n</strong>(You spend $6,410.00 on trades and your gross return is $1,212.80)</p>\r\n<p style=\"text-align: center;\"><strong>The profit levels below are based on single lot trades only; obviously if you trade with two lots the returns double and so on…………</strong></p>\r\nNOTES:\r\n<ul>\r\n	<li>If the above return from Forex Trading interests you go to my website landing page at <a href=\"http://www.weeklyfxdrivethru.com\">weeklyfxdrivethru.com</a> and check out the subscription options and special promotions under the tabs “PREMIUM SERVICE” and “PROMOTIONS”</li>\r\n	<li>If you want more data about the performance and my website does not answer your questions, contact me directly and I will supply the data you require.</li>\r\n	<li>THE PREMIUM SERVICE has subscribers with broker accounts of sizes ranging from $2,500 to over $100,000. A profitable trade is a profitable trade. It is all about trading according to the size of your broker account with EFFECTIVE POSITION SIZING and applying RISK MANAGEMENT principles at all times</li>\r\n</ul>\r\n&nbsp;\r\n\r\n3.2: PREMIUM SERVICE – 2015 PERFORMANCE TO DATE:\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/PS-PROFITS1-21112015.png\"><img class=\"aligncenter size-full wp-image-6821\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/PS-PROFITS1-21112015.png\" alt=\"PS PROFITS1 21112015\" width=\"527\" height=\"419\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/PREM-SERV-PROFITS2-21112015.png\"><img class=\"aligncenter size-full wp-image-6822\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/PREM-SERV-PROFITS2-21112015.png\" alt=\"PREM SERV PROFITS2 21112015\" width=\"538\" height=\"416\" /></a>\r\n\r\n3.3: PREMIUM SERVICE – 2014 TOTAL PERFORMANCE:\r\n\r\n<strong> <a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/PS-PROFITS-2014.png\"><img class=\"aligncenter size-full wp-image-6791\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/PS-PROFITS-2014.png\" alt=\"PS PROFITS 2014\" width=\"529\" height=\"487\" /></a></strong>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n3.4: PREMIUM SERVICE – DIVERGENT FUNDAMENTAL TRADES:\r\n<p style=\"text-align: center;\"><strong>AT LAST AN OPTION FOR THE PART-TIME TRADER\r\n</strong><strong>HOWEVER\r\n</strong><strong>ALL TRADERS CAN OBVIOUSLY BENEFIT</strong></p>\r\nI have talked recently about central bank policy divergence and how this should bring a more directional market to Forex.\r\n\r\nI have in the past been using my FUNDAMENTAL trade style primarily for commodity cross-rate pairs and whilst this has been successful, I decided in Q3 2015 to look a little closer at my subscriber make–up and I discovered that I could do more for my subscribers who I class as part-time.\r\n\r\nPart-time from my perspective means: A trader who is unable to access their computer for whatever reason at will and who therefore only really has two or three times a day to check on trades.\r\n\r\nObviously many brokers (all of my recommended brokers with banners on my website included) offer iOS and Android options to keep you in touch with your trading progress, which is great but some occupations exclude this access as well during the day.\r\n\r\nDIVERGENT FUNDAMENTAL TRADES, I believe offer a great solution to trading for part-time traders as they are longer-term position style trades.\r\n\r\nI had been working on these trades since September only based on what conditions should be in 2016-2017. As time progresses and the reality of what is ahead has finally hit home, the trade results got stronger and stronger. So much so I launched this type of trade with my existing PREMIUM SERVICE subscribers on November 1<sup>st</sup>, with the view of a December lift-off after the FOMC and ECB meetings.\r\n\r\nThe results so far have amazed me, 1,441 pips in November from completed trades is the net result. (Profits were taken on core trades only after NFP)\r\n\r\nThe PREMIUM SERVICE this year so far is ahead of my 2014 performance. This year so far the net result on pips generated in total is 12,128. This involves total dedicated almost round the clock access to computer screens and minimal sleep to achieve the best entries and exits.\r\n\r\nNot everyone can live that lifestyle, or maybe wants to.\r\n\r\nI will be releasing a special blog on DIVERGENT FUNDAMENTAL TRADES very soon.\r\n\r\nThe blog will be published on my website <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a> it will be sent to all people who are subscribers to the FREE NEWSLETTER (to subscribe to the FREE NEWSLETTER go to my landing page on the right hand side about 50% down), and it will posted to several social media options.\r\n\r\nIf you want to read more about this - sign up on my website. A 5 minute read could generate $$$$ for you and your family.\r\n\r\n&nbsp;\r\n\r\n<strong> </strong>\r\n<ol start=\"4\">\r\n	<li><strong> PREMIUM SERVICE (GOLD) EXCLUSIVE CONTENT:</strong></li>\r\n</ol>\r\n(This area contains exclusive content for PREMIUM SERVICE (GOLD) subscribers)\r\n\r\n4.1: THE PREMIUM SERVICE – TRADING REVIEW:\r\n(A look back at the past week’s highs and lows from trades undertaken and a look around at other relevant subscriber information):\r\n\r\nThis has been a great month so far.\r\n\r\n65 closed trades so far this month and with the markets giving us an inkling of what divergence can give us, we generated and banked some healthy profits.\r\n\r\nBoth RADAR and FLASH trade were solid in the past week and I am really pleased with the progress being made with the profit / loss ratios. Month on month these have been improving from Q1 and Q2 earlier this year with all the shenanigans going on with squeezes etc.\r\n\r\nOne point of note, the PREMIUM SERVICE total incomes for 2015 are now ahead of 2014, this is great news and frankly given the start to 2015 one which, I did not expect. Just to remind you that the WEEKLY FX DRIVE THRU blog finishes for the Christmas holidays soon, although I will still be managing trades through the break into 2016 and I expect to still be fairly active on twitter also as trades develop.\r\n\r\nLooking into this week. As already stated this is a strange week, it is neither one thing nor another with the Thanksgiving holiday in the U.S. I think that with all the vacations planned around the weekend from Tuesday lunchtime this week until Tuesday next week it will be very quiet in the North American session, and, if last year is repeated the big European players will stay out of the markets as well. All in all, I think it will be a thin trading week.\r\n\r\nMy plans are simple.\r\n\r\nAll I want to do Monday probably in the European session is add in RADAR trades based around AUD/NZD, AUD/CHF, GBP/CHF and layer in multiple trades surrounding the EUR/USD and USD/CHF. (I have placed trading charts around these set-ups later in the blog.\r\n\r\n&nbsp;\r\n\r\n4.2: THE DIVERGENT CB MONETARY POLICY – FUNDAMENTAL TRADES:\r\n\r\nWow… 1,441 pips of profit from these divergent trades so far.\r\n\r\nWe ended last week with 6 open trades, with a net -25 pips or so recorded.\r\n\r\nFor this week I am looking to layer in additional EUR/USD and USD/CHF trades as well as AUD/NZD and AUD/CHF trades.\r\n\r\nI will soon start a marketing campaign involving these divergent trades and how they are ideal for part-time Forex traders to follow.\r\n\r\n&nbsp;\r\n\r\n4.3: CHANGES TO MY PREFERRED FX BROKER LINEUP:\r\n\r\nMy new broker relationships to be advertised on my DRIVE THRU website, Hantec Markets and Vantage FX, will both soon have their banners on the website landing page along with my existing three FX brokers, Blackwell Global, AvaTrade and FX Pro.\r\n\r\nIf anyone would like to open an additional trading account prior to the banners being launched from these new brokers just contact me.\r\n\r\n&nbsp;\r\n\r\n4.4: REVISIONS TO TRADE STYLE DEFINITIONS:\r\n\r\nAs I am now adding what I hope to be longer-term trades based upon “Divergent Central bank Policy” to the PREMIUM SERVICE, I think it is time to re-address the trade styles.\r\n\r\nA couple of you wanted to add a 4<sup>th</sup> trade style to cover these new trades. Instead of doing this I think its easier just to simplify what is there at the moment as follows: -\r\n\r\nFLASH TRADES:\r\nOpportunist trades in LIVE market conditions. These trades are either based off a pullback strategy, a GIMME10 strategy, or off momentum in a trading pair at the time of entry.\r\nThe goal is to either take 10-30 pips or see a sufficient move to place a protective stop in place to see if a swing trade develops.\r\nSome FLASH TRADES may form part of an overall trading plan with a given currency pair, but the entry could not be made via a LIMIT ORDER.\r\n\r\nRADAR TRADES:\r\nThese a pre-meditated entry trades set from either Fibonacci levels, pivot points or previous support and resistance based off a combination of horizontal or trend line support or resistance.\r\nThe goal is always if possible to swing trade these trades by establishing a position that if market conditions apply allow the trade to gather traction and develop into a longer-term position trade.\r\n\r\nFUNDAMENTAL TRADES:\r\nThese will be trades based off my TRADING PLAN goals for trades in line with my longer-term market views.\r\nTrades in this area will use in addition Fibonacci levels, Pivot points, trend lines and prior support and resistance levels, weekly and monthly ATR’s (Average True Ranges) when setting Stop Loss levels.\r\nThese trades are hopefully of a longer-term nature. They will be initially “single-lot” sized trades due to the wider stop placements that will be applied.\r\n\r\n&nbsp;\r\n\r\n4.5: MAJOR TRADING PAIRS WITH LONGER-TERM MATCHING TRENDS:\r\n(The following currency pairs have Short Term (DAILY), Medium Term (WEEKLY) and Long Term (MONTHLY) charts all trending in the same direction).\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/TRENDING-PAIRS-21112015.png\"><img class=\"aligncenter size-full wp-image-6831\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/TRENDING-PAIRS-21112015.png\" alt=\"TRENDING PAIRS 21112015\" width=\"477\" height=\"616\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n4.6: THE PREMIUM SERVICE - LIVE TRADES ARE:\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/LIVE-TRADES-21112015.png\"><img class=\"aligncenter size-full wp-image-6830\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/LIVE-TRADES-21112015.png\" alt=\"LIVE TRADES 21112015\" width=\"701\" height=\"550\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n4.7: THE PREMIUM SERVICE – LIMIT ORDER TRADES ARE:\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/LIMIT-ORDERS-21112015.png\"><img class=\"aligncenter size-full wp-image-6829\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/LIMIT-ORDERS-21112015.png\" alt=\"LIMIT ORDERS 21112015\" width=\"689\" height=\"435\" /></a>\r\n\r\n&nbsp;\r\n\r\n4.8: POTENTIAL TRADES - WHAT PAIRS / CHARTS AM I LOOKING AT:\r\n\r\nMy thoughts and comments are contained on the charts.\r\n\r\n<strong> <a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/AUDCHF-DAILY-21112015.png\"><img class=\"aligncenter size-large wp-image-6841\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/AUDCHF-DAILY-21112015-1024x514.png\" alt=\"AUDCHF DAILY 21112015\" width=\"1024\" height=\"514\" /></a></strong>\r\n\r\n<strong> </strong>\r\n\r\n<strong><a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/AUDNZD-240M-21112015.png\"><img class=\"aligncenter size-large wp-image-6840\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/AUDNZD-240M-21112015-1024x514.png\" alt=\"AUDNZD 240M 21112015\" width=\"1024\" height=\"514\" /></a> </strong>\r\n\r\n<strong> <a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/GBPCHF-M-21112015.png\"><img class=\"aligncenter size-large wp-image-6839\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/GBPCHF-M-21112015-1024x514.png\" alt=\"GBPCHF M 21112015\" width=\"1024\" height=\"514\" /></a></strong>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n<ol start=\"5\">\r\n	<li><strong> MY FINAL THOUGHTS:</strong></li>\r\n</ol>\r\nOVERVIEW OF TRADING TIPS &amp; THOUGHTS FOR THE WEEK AHEAD:\r\n\r\nThis will be a strange week.\r\n\r\nWe have a FED announcement on Monday that could be a pre-cursor to the rate hike next month. This week could be the week that sets the tone for the next two years. Mario Draghi has already played his hand, it is just a case of how much more and until when with regards to QE in the Eurozone.\r\n\r\nI am expecting very thin markets this coming week so I would trade smaller to allow for increased volatility.\r\n\r\nAs usual trade within your means, use your TRADE PLAN manage RISK with correct POSITION SIZING and STOP PLACEMENT.\r\n\r\nLongevity in trading is paramount to success. Success in trading is based mainly trading high probability trades with your RISKS MANAGED.\r\n\r\n&nbsp;\r\n\r\nTake care,\r\n\r\nScott Pickering\r\nThe Pip Accumulator\r\nhttps://weeklyfxdrivethru.com/disclaimer/\r\nBLOG #82\r\n\r\n&nbsp;','DRAGHI PULLS NO PUNCHES','','inherit','closed','closed','','6847-revision-v1','','','2015-11-21 18:03:32','2015-11-21 23:03:32','',6847,'https://weeklyfxdrivethru.com/6847-revision-v1/',0,'revision','',0),(6858,16,'2015-11-27 10:40:58','2015-11-27 15:40:58','<h4 style=\"text-align: center;\"><strong> </strong></h4>\r\n<h4 style=\"text-align: center;\"><strong>ARE YOU ALREADY, OR, ARE YOU THINKING ABOUT BEING A PART-TIME FOREX TRADER?\r\n</strong><strong>ARE YOU STRUGGLING TO ACHIEVE YOUR FINANCIAL GOALS?</strong></h4>\r\n&nbsp;\r\n\r\n<strong><span style=\"text-decoration: underline;\">UPDATE ADDED 15th December 2016:</span></strong>\r\n\r\nAs I do not trade in times of lower liquidity, in fact I trade for about 40 weeks a year in total, the PREMIUM SERVICE trading for 2016 is now completed and my trading fingers are now rested until I start again next year in 2017.\r\n\r\nThroughout this year (2016), I have been adding performance updates to the initial trading projection that I posted in early January 2016 top show the progress versus the projection\r\n\r\nWith 2016 trading now complete I can now announce that the PREMIUM SERVICE beat the projection set out at the beginning of 2016 by 332 pips.\r\n\r\nI have placed the final excel spreadsheet below and beneath it I have made a few comments.\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/12/POS-TRADES-ACTUAL-V-PROJ-2016.png\"><img class=\"aligncenter size-large wp-image-8818\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/12/POS-TRADES-ACTUAL-V-PROJ-2016-997x1024.png\" alt=\"\" width=\"997\" height=\"1024\" /></a>\r\n\r\n&nbsp;\r\n\r\nThe first thing to note is that traders who started in January 2016 with this program who traded just single lot  MINI  or STANDARD lot POSITION TRADES  suggested by my program wopuld have more than doubled the size of their broker after all costs were accounted for, had they followed every trade and the program 100%.\r\n\r\nBasically, MINI LOT traders who started off with a broker account with USD$7,500.00 after trading the 181 completed trades would show a healthy profit after the costs to trade and the annual subscrption fees were deducted. The excel sheet shows a net broker account balance of USD$15,294.00 from a start of USD$7,500.00.\r\n\r\nThis final performance number needs a little clarification: -\r\n<ol>\r\n 	<li>The PREMIUM SERVICE subscription is not paid from your broker account it is paid on day one separately. It is shown in the excel spread sheet for illustrative purposes only.</li>\r\n 	<li>There are a multiple of  LIVE POSITION trades in the PREMIUM SERVICE being carried forward into 2017. These are basically CORE POSITION trades ready for 2017. The net current position of these trades is a loss of c. USD$2,400.00.Therefore the revised net position on the broker account for a single MINI LOT trader is USD$ 12,894.00 and not USD$15,294.00 (this reflects completed trades only). This still reflects to date a healthy USD$5,394.00 of free and clear profit so far from the start of the program.</li>\r\n 	<li>Obviously in 2017 there will be another subscription required but this would be paid for from PROFITS.</li>\r\n 	<li>The 2017 performance would be a net net gain moving forward.</li>\r\n 	<li>Should you be a MICRO LOT trader; you really need to be trading at least 5 x MICRO LOTS per trade to show a reasonable return. At 5 x MICRO LOTS per trade the numbers start to stand up better but this in my opinion would involve an initial trading account of at least USD$3,500.00 plus your subscription to get going.</li>\r\n</ol>\r\nThe main point here to get across is that you can make money from Forex Trading. The POSITION TRADES referred to here were intended for traders who cannot for whatever reason be active at all times of the day. If this interests you either subscribe to the PREMIUM SERVICE right away from the SUBSCRIBE HERE section of the tab on my landing page, or, if you require more information contact me. There are no secrets all the the trading information is available.\r\n\r\nI have left the previous updates, right back to the original posting below.\r\n\r\nScott Pickering\r\nThe Pip Accumulator\r\n15th December 2016.\r\n\r\nhttp://www.weeklyfxdrivethru.com/disclaimer/\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\"><strong>THIS UPDATE WAS ADDED 31st OCTOBER 2016:</strong></span>\r\n\r\nAt the beginning of 2016 I launched PART-TIME TRADER TRADES and renamed them during 2016 to become POSITION TRADES.\r\n\r\nI set aggressive targets of more than doubling the size of your broker accounts in a structured way this year.  Below you will see my original post with my income projection table in BLACK. At the end of Q1 I reviewed the performance and added my to date table in BLUE. At the end of Q2 I posted again and updated the real time table this time in GREEN.\r\n\r\nNow we are at the end of October and I have updated the year performance once again, this time it\'s PURPLE.\r\n\r\nMany of my competitors who offer a PREMIUM SUBSCRIPTION service that like myself provides  a level of market commentary, promise the earth with their mentoring styles. I have NOT found any competitors who publish an annual pip objective or review performance against objectives that were set out.\r\n\r\nAs I keep telling my subscribers, what you see is what you get.\r\n\r\nMy POSITION TRADE profit objective was aggressive. To be this close given all the geopolitical events in 2016, frankly, I am absolutely delighted.\r\n\r\nPlease see that chart below to see the current position as at 31st October 2016, based upon the target set out on January 1st 2016. Beyond this current chart I have left all of my prior posts and updates from the original one in place for you to see the progress through the year.\r\n\r\n&nbsp;\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/10/POSITION-TRADES-Q3-2016-PERF-.png\"><img class=\"aligncenter size-large wp-image-8580\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/10/POSITION-TRADES-Q3-2016-PERF--1024x794.png\" alt=\"position-trades-q3-2016-perf\" width=\"1024\" height=\"794\" /></a>\r\n\r\n&nbsp;\r\n\r\nScott Pickering\r\nThe Pip Accumulator\r\n31st October 2016\r\n\r\n&nbsp;\r\n\r\n<strong><span style=\"text-decoration: underline;\">THE FOLLOWING POST WAS ADDED ON JULY 11th 2016:</span></strong>\r\n\r\nI updated my 2016 spreadsheet and performance with regards to POSITION (PART-TIME TRADER TRADES) at the end of Q1.  At that time, I left on this page the original post to this drop down menu so that it was clear to see the existing performance versus the initial projection.\r\n\r\nIt now the end of Q2 and have decided to do the same again. At the end of this update dated 11th July 2016 reflecting upon Q2 2016 performance, you will find my March 31st post reflecting on the Q1 performance and then my original post when I decided to launch PART TIME TRADER TRADES now called POSITION TRADES in December 2015.\r\n\r\nMy initial comments on the performance to date are as follows (see the excel spreadsheet below):\r\n<ol>\r\n 	<li>Never be upset at making money when trading.</li>\r\n 	<li>I knew that I was having to continually adjust to market conditions. I had blogged continually this year about uncertainty and lots of chop in the markets making normal trading very difficult at times. This \"Chop\" has manifested itself in the way that my POSITION TRADES have played out.</li>\r\n 	<li>I have completed 88 trades already from a projected 90 trades for the whole year.</li>\r\n 	<li>Profit loss ratios on completed trades are at 86%-14% well ahead of my projected 75%-25% projection.</li>\r\n 	<li> 5,106 pips have been achieved against the annual target of 8,438, which equates to 60% of my annual goal after 50% of year is complete. To achieve my ambitious 2016 objective will be a tall order but I am up for the challenge.<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/07/POS-TRADES-Q2-actual-v-proj-11072016.png\"><img class=\"aligncenter size-full wp-image-8138\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/07/POS-TRADES-Q2-actual-v-proj-11072016.png\" alt=\"POS TRADES Q2 actual-v-proj 11072016\" width=\"606\" height=\"437\" /></a></li>\r\n</ol>\r\nAs I have said all along with my trading it is vital to trade what you are presented with. Longer-term trading whilst the \"day to day noise\" can be excluded from the process of placing a trade it still has its own difficulties that have been clear to see as more and more uncertainties have entered the marketplace.\r\n\r\nWe now enter Q3 the silly season when liquidity is much lower and the Asian market sessions become more and more of a nonsense as the liquidity really dries up even more into an illiquid session at the best of times. There is still huge uncertainty hanging over the markets in particular surrounding the BREXIT fallout but also the US Presidential Election is approaching really fast. Trading patterns/ levels will be harder in this environment.\r\n\r\nIn three months, I will post a Q3 follow up.\r\n\r\nScott Pickering\r\nThe Pip Accumulator\r\nJuly 11th 2016\r\nwww.weeklyfxdrivethru.com/disclaimer/\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\"><strong>BELOW IS THE Q1 REVIEW THAT WAS PUBLISHED ON MARCH 31st 2016:</strong></span>\r\n\r\nWe are almost three months into 2016 trading and I thought that it would be a great idea to review the performance of my new trading category, that was launched in January this year; PART-TIME TRADER TRADES.\r\n\r\nBefore getting into the “nitty gritty” of projected numbers versus actual performance, I thought I should offer an overview to date.\r\n\r\nThis year trading has not been as clear-cut as I had hoped for. The divergent trade, which frankly launched this idea of the new trade set-up category, has not been as visible as I had hoped. In fact, there have been clear examples of central bank policy direction being ignored (BOJ and ECB). Coupled with some major geopolitical uncertainties, I have not had the confidence to let trades run as I had originally intended and I have cut trades short, mostly at the time they were profitable to bank $$$.\r\n\r\nMoving forward, I do see the divergent trade re-appearing because frankly, nothing has fundamentally changed. The FED is still progressing with monetary policy, that is, raising rates when the two other large central banks the ECB and BOJ are still easing with monetary policy through a long term quantitative easing program. From this perspective nothing has changed.\r\n\r\nHowever, one thing that I do want to change is the name given to these suggested trade set-ups moving forward. From April 4<sup>th</sup> 2016 they were renamed as POSITION TRADES and no longer PART-TIME TRADER TRADES. They will now carry the prefix POS as suggested set-ups are posted to subscribers of the PREMIUM SERVICE.\r\n\r\nBelow is the PROJECTED PERFORMANCE versus the ACTUAL for Q1 2016. I have added a short commentary / summary on the chart and in the few short comments at the foot of the excel sheet.\r\n\r\nI am really pleased with this category of trade set-up. It has been by far my most successful trading style this year so far. This does make some sense in the fact that for most of this year I have been talking in my blogs and writing <strong>on </strong>Twitter about how choppy the markets have been and because of geopolitical uncertainties it has on many occasions been quite difficult to trade.\r\n\r\nThe actual performance for Q1 is in BLUE and the original projection is in BLACK. I have made no amendments to the original data.\r\n\r\nRoll on Q2 if it is half as good as Q1 there will be both pips and $$$$!!\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/position-trades-q1v2016-31032016/\" rel=\"attachment wp-att-7519\"><img class=\"aligncenter size-full wp-image-7519\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2016/03/POSITION-TRADES-Q1v2016-31032016.png\" alt=\"POSITION TRADES Q1v2016 31032016\" width=\"596\" height=\"456\" /></a>\r\n\r\n&nbsp;\r\n\r\nScott Pickering\r\nThe Pip Accumulator\r\nMarch 31st 2016\r\nwww.weeklyfxdrivethru.com/disclaimer/\r\n\r\n&nbsp;\r\n<p style=\"text-align: center;\"><span style=\"text-decoration: underline;\"><strong>BELOW IS THE ORIGINAL ARTICLE THAT WAS ON THIS PAGE TO CO-INCIDE WITH THE LAUNCH OF PART TIME TRADER TRADES IN JANUARY 2016:</strong></span></p>\r\nOne category of trader that is missed, ignored and frankly not really catered for by the FX market is the “the part-time” trader. Although many Forex educators have tried to formulate a strategy to work for traders who have limited access to their computers, they have had very limited success. Without doubt the development of trading on cell phones and tablets has helped, however trading part-time throws up limitations full-time traders just cannot grasp.\r\n\r\nHaving traded Forex myself now for over 8 years, I can understand the frustrations of the part-time trader and the feeling of isolation this brings. I started trading part-time, however my circumstances allowed me to move to full-time trading. Not everyone has this luxury. However, I get it, I understand the frustrations of a part-time trader when trades are closed when you are unable to access your computer. In the real world we have to accept that at times the markets will dictate trading, this cannot be avoided, however if there was a way this could be reduced, the involvement of part-time traders in the Forex market would rise again.\r\n\r\nWhen the PREMIUM SERVICE started in 2014, I tried to accommodate part-time traders needs to my best ability. I never really had the unique sales position that I strove to achieve and like many others I failed in my goals that I set myself in accommodating part-timers. The PREMIUM SERVICE profitability was on target, in fact it exceeded my expectations, but my objective of creating and supporting a niche for part-time traders just did not happen.\r\n\r\nIf you visit my website <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a> under the TAB on my landing page titled PREMIUM SERVICE all the 2015 and 2014 performances are compared and reviewed.\r\n\r\nI have shown that no matter what the size of budget you have, you can make money from Forex trading. This was my initial goal niche area, whether your account has a balance of $1,000.00, a $ 100,000,00, or somewhere in between the Forex market has opportunities for you to make money.\r\n\r\nSince offering a fee-based subscription option, the PREMIUM SERVICE, I have categorized my trade set ups into three different types of trades.\r\n\r\nFLASH TRADES – at market\r\nRADAR TRADES – limit orders\r\nFUNDAMENTAL TRADES – limit orders with longer-term horizons\r\n\r\nIn my opinion, you have to be an active trader to trade both RADAR and FLASH trades. It was part of my goal that the FUNDAMENTAL trades would be attractive to all traders but especially part-time traders.\r\n\r\nIt is with the FUNDAMENTAL trades that I have been reviewing my thoughts, ideas and objectives towards the end of 2015.\r\n\r\n<u>BACKGROUND TO THE DIVERGENT FUNDAMENTAL TRADES PLAN:</u>\r\n\r\nFollowing moves in the major central bank monetary policies (FED, ECB, BOJ, BOE, SNB, RBA, BOC and RBNZ); we now have policy divergence across the globe. In my opinion, this is a tradable feature and because it should be directional it has a hugely potential tradable benefit.\r\n\r\nI decided late October 2015, that from November 1<sup>st</sup> 2015 all future FUNDAMENTAL TRADES would be based around central bank divergence trades. This change was initially communicated to my existing PREMIUM SERVICE subscribers, who reside in all corners of the globe, trade with different sizes of accounts, some are active traders, some part-time, some just seasonal, many are technical traders and many are traders based off fundamental news. It is the full spectrum.\r\n\r\nI have received tremendous feedback, in particular from my part-time traders, who were missing some suggested trade set-ups as they could not access their computer devices enough times in the day to check for set-ups.\r\n\r\nFrom my perspective, it is much easier to plan and schedule DIVERGENT FUNDAMENTAL TRADES. Being, realistic, there are bound to be occasions when an entry or an exit price could be missed, nothing can be 100% in this market place but my part-time traders are delighted, and therefore so am I.\r\n\r\nArmed with this information, it gave me greater comfort when moving forward with this trading strategy.\r\n\r\nAs mentioned, the trade set-ups suggested are intended to have a longer-term trading perspective. They are not specifically aimed at traders who consider themselves to be part-time Forex traders, all traders can of course take advantage, and I see it as an additional income stream opportunity for all. Who doesn’t want extra $$$.\r\n\r\nMy definition of part-time is those of you who are only able to look at your computer screens, or, mobile devices to check trades two-three times a day.\r\n\r\nA key feature of these set-ups is that they have much wider than normal stops to allow for market swings and volatility. The compensation for this is that trades are smaller in size to allow for swings in volatility, but multiple trades in the same currency pair are added when the core trade has traction in the desired direction.\r\n\r\nI am suggesting that in order to protect RISK, your initial trade sizes are no more than 10% of your overall individual trade risk parameters that you have set in your TRADING PLAN. As the initial trades gather traction, additional trade set ups are suggested, these are managed on an individual basis based upon your account size and risk management parameters.\r\n\r\nMy goal is to have multiple trades open/live at any one time and maybe 2/3 open/live trades with the same currency pair. I will of course suggest to take some profits along the way, but hopefully at the same time letting trades run as far as possible.\r\n\r\nWe are entering a period of two years or so at least, with divergent central bank monetary policies. As a Forex trader this gives me increased confidence when placing trades knowing that central bank policy is supportive of my trade direction. Whilst there is still risk attached to the trade, risks are minimized, and the longer-term nature of the trades allow for swings and volatility. If I can achieve my goal of 75% -25% profitable to losing trades over an extended trading period, I will be happy.\r\n\r\n<u>LOOKING AHEAD INTO 2016 and BEYOND:</u>\r\n\r\nBased on my historical performance data and using average take profits, stop loss levels and anticipated trade volumes for next year, the information below gives you an idea of the goals and objectives that I have set myself to achieve in 2016.\r\n\r\nMy cash flow projection for DIVERGENT FUNDAMENTAL TRADES for 2016 is below.\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/PARTTIME-TRADES-CFLOW-2016.png\"><img class=\"aligncenter size-large wp-image-8958\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/PARTTIME-TRADES-CFLOW-2016-813x1024.png\" alt=\"\" width=\"813\" height=\"1024\" /></a>\r\n\r\nThis is a projection based off previous performances over a two-year period so it has credibility. I have calculated this allowing for whether you are a micro, mini or standard lot trader.\r\n\r\n&nbsp;\r\n\r\nBased on the examples set out in the spreadsheet. After all costs associated directly with trading are accounted for: -\r\n\r\nMicro lot traders have a potential net income of $789.75\r\nMini lot traders have a potential net income of $15,052.50\r\nStandard lot traders have a potential net income of $157,680.00\r\n\r\nObviously, should you trade 2 or 3 lot sized trades your RISK to trade (cost) are increased above the examples shown but additionally your net profit returns are potentially greater.\r\n\r\nRISK MANAGEMENT, POSITION SIZING and OVER LEVERAGING are crucial management tools you must understand before trading, having said that there are great income opportunities.\r\n\r\n&nbsp;\r\n\r\n<u>MOVING FORWARD IF YOU ARE INTERESTED:</u>\r\n\r\nIf what you have read sounds appealing and logical and you want to be a part of this trade idea. What do you need to do next?\r\n\r\nEXISTING TRADERS:\r\n<ol>\r\n 	<li>If you are already trading the Forex market. You need to subscribe to the PREMIUM SERVICE. Go to my website <a href=\"http://www.weeklyfxdrivethru.com\">weeklyfxdrivethru.com</a> On the landing page click on the SIGN UP tab. There you will find all the period options for being a subscriber. You need to have a PayPal account in order to register.</li>\r\n 	<li>If you are an existing Forex Trader and you want to keep these trades separate from your existing trades, why not open an additional account with one of my brokers listed on my landing page by clicking on one of their banners. From time to time there are special new client marketing bonus available. If unsure contact me for details.</li>\r\n</ol>\r\nNEW TO FOREX:\r\n<ol start=\"3\">\r\n 	<li>Brand new to Forex Trading. You will need both a broker account and a subscription to the PREMIUM SERVICE. Go to my website <a href=\"http://www.weeklyfxdrivethru.com\">weeklyfxdrivethru.com</a> On the landing page click on the SUBSCRIBE tab. There you will find all the options for being a subscriber. You need to have a PayPal account in order to register.</li>\r\n 	<li>You will require a broker account from which to trade from. I have 5 brokers listed with banners on my website. I deal with all five and have great account relationships with them all. They all offer great service and being part of my team with them helps should you have any technical or account issues moving forward. From time to time these brokers offer special offers to new clients. To open an account all you need to do is click on the banner and it is a short process to open an account. All you require is address confirmation and photo ID confirmation. Once these are accepted an account number is allocated to you, then you need to simply deposit funds into your account. You are then ready to trade. Personally, I would open a demo account as well to get you familiar with the trading platform. There are plenty of on-line tutorials with each broker to help and, in addition, I can offer assistance.</li>\r\n</ol>\r\nShould you still want additional information, this is not a problem; all trades for 2014 and 2015 are measured and recorded. These are available to you if you want them, plus any other information you would like to know about. If you want to know more, do not hesitate to contact me at the email address at the foot of this email.\r\n\r\nI am really excited about the opportunities that lie ahead with these trade set-ups.\r\n\r\nAs the realization that DIVERGENCE will be a reality in the operations of the world’s central bank monetary policy, trading the divergence has become stronger and as a result and profitability from these trades has increased since September 2015. This has happened, yet the crucial FED meeting, has not yet taken place. It is scheduled for December 16<sup>th</sup> 2015. After this meeting as the markets settle after the initial news, the DIVERGENCE will become stronger as we move through next year.\r\n\r\nIf you want to be part of this program, you need to get ready for 2016 now.\r\n\r\nGood Luck,\r\n\r\nScott Pickering\r\nThe Pip Accumulator\r\nwww.weeklyfxdrivethru.com/disclaimer/','Part-Time Forex (Position) Traders','','publish','closed','closed','','part-time-forex-traders','','','2017-01-21 13:07:46','2017-01-21 18:07:46','',0,'https://weeklyfxdrivethru.com/?page_id=6858',0,'page','',0),(8992,1,'2017-01-21 15:09:13','2017-01-21 20:09:13','&nbsp;\r\n<ol>\r\n 	<li><strong>INTRODUCTION:</strong></li>\r\n</ol>\r\nWelcome.\r\n\r\nAlmost through the first trading month of the year and I feel progress so far is “one step forwards… two steps back”. As things stand right now, I think that the month will be marginally up or marginally down measured by both pips and cash. In no way is it anything like a blowout month… I know that there is still a week left, let’s see if have a hallelujah moment or two.\r\n\r\nSo, last week.\r\n\r\nWe had a Theresa May moment, a Draghi Press Conference and the fashion show in Washington aka THE DONALD comes to town for his signing in ceremony.\r\n\r\nDraghi was a bore; and, frankly he had to present that way. Still lots to do, still dovish, need governmental support, the ECB cannot do it alone, headwinds getting stronger, fragile recovery, signs are good but much more to be done. We did NOT discuss tapering…. yeah right!! It was enough for the markets, and the single currency weakened a little across the board a perfect delivery by Draghi and the ECB.\r\n\r\nTheresa May, came out all guns blazing. We are leaving the EUROPEAN UNION but we are not leaving EUROPE. Not quite so sure the Brussels bureaucrats would view it quite the same. I have no doubt they were sat back with a good bottle red digesting all of May’s comments and poking fun.\r\n\r\nTheresa May placed a very positive spin on the BREXIT. “Play ball and all will be good for both sides”, however, she cherry picked all the goodies that she knows the EU will never agree to this because it would cause a CONTAGION. Despite all the previous commentary she tried once again to pre-negotiate.\r\n\r\nLet’s get this 100% clear and unambiguous; until article 50 is triggered, the UK is in the EU. You cannot negotiate an exit until you are in the exit process. This is basic stuff.\r\n\r\nI tweeted a bit about this last week. Hard BREXIT soft BREXIT? Come on its an exit and it will be difficult as both sides have lines in the sand that they simply cannot cross. The cable rallied on a cherry-picking speech. It was a great speech, very well written and very well delivered but the quality of the content in my opinion was a little “Mickey Mouse” and more of a dream than a belief that it could be possible. The markets as usual bought it, but the short squeeze rally was in my opinion overdone… “bigly”!\r\n\r\nFinally, the DONALD’S inauguration; I am covering THE DONALD in section 5 “SCOTT’S SOAPBOX”, so I write it all there.\r\n\r\nMoving on… “LIVE Broadcasts”\r\n\r\nI did not broadcast PERISCOPE #2 last Monday. The vehicle (PERISCOPE) is just not what I needed to meet the objectives that I have moving forward.\r\n\r\nThis coming Monday 23<sup>rd</sup> January at 5:30PM EST, I am launching the “WEEKLY FX DRIVE THRU – LIVE” via a “live in the market” webinar with my partners “demio”.\r\n\r\nThis arrangement allows me to share screens, office documents and LIVE charting screens. Hopefully after a few fumbles as I gain competencies it will be a seamless affair for all parties. All I ask is for you to be patient with me.\r\n\r\nWhilst this format gives me 100% what I want, there are a couple of issues, at the moment, that you as potential viewers need to be made aware of: -\r\n<ul>\r\n 	<li>You need Google Chrome as a browser to attend.</li>\r\n 	<li>You cannot view on smart phones or tablets, only Laptops and Desktops.</li>\r\n</ul>\r\nThe link is below: -\r\n\r\n<a href=\"https://my.demio.com/ref/4ZHMGqgfLACTvJXm\">https://my.demio.com/ref/4ZHMGqgfLACTvJXm</a>\r\n\r\nNot that I want to keep placing links in front of readers, but as this blog ends up in the strangest of places when it is redistributed on the web, I do have another one to add. I know via feedback that non-Forex Traders read it, not sure why, my humour is poor, my grammar weak, my swearing predictable and overall it does not get great Google feedback as they say it’s hard to read.\r\n\r\nFeck me I’m from Liverpool, we do not know big words. When I was a teenager growing up, and my Dad was a Policeman (Cop) we lived in a great area.  However, in general conversation, anything over two syllables and you were deemed a snob in danger of getting your head kicked in by a local gang! What I am saying here is I am no Fraser Crane I use small words.\r\n\r\nBack to the point…\r\n\r\nThe blog ends up in on-line newspapers and the like, and non-Forex traders read it and I have had a few communications asking me what is FX all about and how do I fit in? (After Christmas just gone, I don’t fit in very easily at all following massive over-indulgence).\r\n\r\nThe link below, to which you need to register tells you all about the PREMIUM SERVICE and how you can be a part of it.\r\n\r\nIt is titled “How to add an additional income stream with the PREMIUM SERVICE”. It is FREE to watch and takes 40 minutes. If you do not yet trade Forex, it could be just what you want. If you currently trade Forex, it could also be just what you want.\r\n\r\nRemember, it costs nothing to listen.\r\n\r\n<a href=\"http://www.onlinemeetingnow.com/register/?id=wrklqabmy3\">http://www.onlinemeetingnow.com/register/?id=wrklqabmy3</a>\r\n\r\nFinally, in this section…\r\n\r\nIf you would like to be in the monthly draw to win a “FREE 10-WEEK SUBSCRIPTION” to the PREMIUM SERVICE, valued at CAD$1,000.00, all you have to do is subscribe to receive this FREE NEWSLETTER on my website <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a>  On my welcome page just below my cube logo is where you complete your subscription.\r\n\r\n<strong> </strong>\r\n<ol start=\"2\">\r\n 	<li><strong> THE FX MARKET PLACE – LOOKING FORWARD:</strong></li>\r\n</ol>\r\n<strong><u>NOTE:</u></strong> This year, 2017, I am not going to look backwards in this section only forwards. News items / points of interest from the prior week will be covered in the introduction.\r\n\r\n<u>ECONOMIC DATA RELEASES:</u>\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/FX-NEWS-22012017.png\"><img class=\"aligncenter size-large wp-image-8959\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/FX-NEWS-22012017-1024x966.png\" alt=\"\" width=\"1024\" height=\"966\" /></a>\r\n\r\n<u>MY THOUGHTS ON THE WEEK AHEAD:</u>\r\n\r\nPhew!\r\n\r\nI completely got the BOC wrong last week. The rate statement OK, but I did not foresee Stephen Poloz announcing that rate cuts were back as options moving forwards. Let’s hope I am better this week.\r\n\r\nOn the docket this week in no particular order: -\r\n\r\nCPi data from Australia and New Zealand and GDP data from the UK and US. Also, Draghi speaks on Sunday night just after the open and that awfully nice chap from the RBNZ Graeme Wheeler chats to probably a bewildered audience on Wednesday…if the audience is not bewildered at the beginning there is a better than 50-50 chance by the end!\r\n\r\nThe big one should be the Supreme court ruling over the UK BREXIT. IF the House of Commons must vote on the BREXIT to ratify the referendum vote by the people, this will have enormous constitutional issues. Never mind the democratic issues that this will throw up. It could be a tasty piece of news. It’s one thing allowing Parliament to debate the BREXIT but the people in a democracy have decided and surely this (excuse the pun) “TRUMPS” parliament.\r\n\r\nI am no constitutional expert, not by any stretch, but if the people elect parliamentarians by voting for whom they choose, the people have the vote that should decide in a referendum. Let’s see.\r\n\r\nI see this week as a week where we could be and probably will be pushed up and down on the back of the number of executive orders placed by THE DONALD in his first few days of his presidency, plus, how many tweets the US Commander-in–chief issues and if he’s started any new wars, currency, trade or military!\r\n\r\nExpect the chop fest.\r\n\r\nAs Monty Python once said “No-one expects the Spanish Inquisition” … in 2017 it will be “No-one expects THE DONALD”.\r\n\r\nGet ready for it.\r\n\r\n<u> </u>\r\n\r\n<u>USD MAJORS – “IMMEDIATE” SUPPORT &amp; RESISTANCE with TREND:</u>\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/T-CHART-22012017.png\"><img class=\"aligncenter size-large wp-image-8960\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/T-CHART-22012017-1024x797.png\" alt=\"\" width=\"1024\" height=\"797\" /></a>\r\n\r\nMy trade charts for the USD majors are below. My thoughts, views and commentary is written on the charts.\r\n\r\nYou will find my charts, hopefully easy to follow. I only use Fibonacci levels, trend lines, confluence points and sometimes chart patterns to identify my high probability trades. If you have any difficulty understanding the points that I am trying to make, please do not hesitate to contact me.\r\n\r\nEUR/USD:\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/EURUSD-D-22012017.png\"><img class=\"aligncenter size-large wp-image-8967\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/EURUSD-D-22012017-1024x496.png\" alt=\"\" width=\"1024\" height=\"496\" /></a>\r\n\r\n&nbsp;\r\n\r\nGBP/USD:\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/GBPUSD-D-22012017.png\"><img class=\"aligncenter size-large wp-image-8968\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/GBPUSD-D-22012017-1024x496.png\" alt=\"\" width=\"1024\" height=\"496\" /></a>\r\n\r\n&nbsp;\r\n\r\nAUD/USD:\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/AUDUSD-D-22012017.png\"><img class=\"aligncenter size-large wp-image-8966\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/AUDUSD-D-22012017-1024x496.png\" alt=\"\" width=\"1024\" height=\"496\" /></a>\r\n\r\n&nbsp;\r\n\r\nNZD/USD:\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/NZDUSD-D-22012017.png\"><img class=\"aligncenter size-large wp-image-8969\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/NZDUSD-D-22012017-1024x496.png\" alt=\"\" width=\"1024\" height=\"496\" /></a>\r\n\r\n&nbsp;\r\n\r\nUSD/CAD:\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/USDCAD-D-22012017.png\"><img class=\"aligncenter size-large wp-image-8970\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/USDCAD-D-22012017-1024x496.png\" alt=\"\" width=\"1024\" height=\"496\" /></a>\r\n\r\n&nbsp;\r\n\r\nUSD/CHF:\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/USDCHF-D-22012017.png\"><img class=\"aligncenter size-large wp-image-8971\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/USDCHF-D-22012017-1024x496.png\" alt=\"\" width=\"1024\" height=\"496\" /></a>\r\n\r\n&nbsp;\r\n\r\nUSD/JPY:\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/USDJPY-D-22012017.png\"><img class=\"aligncenter size-large wp-image-8972\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/USDJPY-D-22012017-1024x496.png\" alt=\"\" width=\"1024\" height=\"496\" /></a>\r\n\r\n<strong>\r\n\r\n</strong>\r\n\r\n&nbsp;\r\n<ol start=\"3\">\r\n 	<li><strong> THE PREMIUM SERVICE:</strong></li>\r\n</ol>\r\n<u>WHAT IS THE PREMIUM SERVICE:</u>\r\n\r\nThe PREMIUM SERVICE is a subscriber, fee based trade set-up option for Forex traders regardless of experience or background. I provide traders suggested trades, and some market commentary related to open trades or factors within the overall market that have my interest.\r\n\r\nFull details of the PREMIUM SERVICE and costs to subscribe plus the various trade styles and how suggested trade set-ups are communicated can be found on my website landing page at <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a> by selecting THE PREMIUM SERVICE tab.\r\n\r\nAdditional information can be found by clicking TESTIMONIALS, PART-TIME TRADERS and FX PROMOTIONS tabs. To subscribe to THE PREMIUM SERVICE, you will require a valid credit card.\r\n\r\nIf you would like to watch/listen to a 40-minute PREMIUM SERVICE webinar to learn more about what I can do to help you with your trading. Then click the link below and register. It is FREE… it costs nothing to listen.\r\n\r\n<a href=\"http://www.onlinemeetingnow.com/register/?id=wrklqabmy3\">http://www.onlinemeetingnow.com/register/?id=wrklqabmy3</a>\r\n\r\n&nbsp;\r\n<ol start=\"4\">\r\n 	<li><strong> PREMIUM SERVICE – SUBSCRIBER CONTENT AREA:</strong></li>\r\n</ol>\r\n<ol start=\"5\">\r\n 	<li><strong> SCOTT’S SOAPBOX:</strong></li>\r\n</ol>\r\nIf you recall, in my final “DRIVE THRU” of 2016, I provided a list of TRADING PREDICTIONS for 2017. I basically named several geopolitical events that I feel will weigh on the markets this year. Therefore, for the first few weeks of 2017, I want to look at these events in a little more detail.\r\n\r\nAs you will be aware, so much has been said already on the subjects that I have highlighted, I can only add points and views that are my own, based upon how I see things and how I am going to view trading around these events.\r\n<p style=\"text-align: center;\"><strong>TRUMP, PROZAC, OXYCONTIN and THE USD</strong></p>\r\nThere always seems to be something similar to a theatrical overtone to anything that is TRUMP associated in my opinion. I cannot put my finger on exactly what, but it’s almost as if one is expecting some TV style stunt to happen in the middle of a speech or something like that.\r\n\r\nI am not sure whether it’s an overriding feeling of dis-belief that he actually pulled it off, beat the odds, beat a well-oiled machine, claimed victory with his whole party against him, in fact, he alone, with just the help of his family and his running partner, took on the might of the Presidency and the Billions of dollars behind a Clinton campaign and won.\r\n\r\nThe Republican party that hid under rocks during the campaign are now only too happy to crawl out from under that rock and feast on the spoils of victory to which their added value was zero, in fact in some cases minus.\r\n\r\nThis is one main reason why I have a low opinion of politicians. They are only fair weather friends. I realize that there are some good ones, but in most countries, you can count them on one hand. I now have first-hand experience of 5 countries.\r\n\r\nMoving on…\r\n\r\nThanks be to God, that neither Piers Morgan or Omarosa parachuted in on the parade on Pennsylvania Avenue, that would have really put my, “it’s about to happen”, reality TV, TV stunt thoughts front and centre.\r\n\r\nDefinitely moving on now….\r\n\r\nThe fashion show in DC went off without a snag just 30 minutes late…I must say that the Brits would never stand for the delay, being the masters of pomp and ceremony everything in the UK is rehearsed and timed repeatedly down to almost the tenth of a second for accuracy.\r\n\r\nHowever, one must say that despite what we may think of THE DONALD the fashion police in DC will take on a new role for at least the next four years commenting on Melania, Ivanka and wives of Don Jnr and Eric. In some ways, it could be a pleasant distraction from the twitter account!\r\n\r\nThe speech in my opinion was just like one from the stump. He had to do that, I cannot for the life of me get over the debate about it.  It was 100% expected.\r\n\r\nSo; all over Washington right now, Republican and Democrats alike are in front their GP (Doctor), requesting drugs to get them through the first 100 days of the TRUMP administration.  I never give out any recommendations on stocks or even FX trades, I cannot, but what I can tell you is that we should all watch the shares of PROZAC and OXYCONTIN, I think these could be good buys, whoever manufactures them.\r\n\r\nThe whirlwind is in town and I would expect that blockages to change will be named and shamed publicly like never before to alert the people who voted them in that they do not have the future of a United States in their heart, or words to that effect.\r\n\r\nPoliticians the world over, hide behind the party line as a reason to oppose, this is how career politicians survive. If they can blame someone instead of defending their own actions, it suits them better as they need continual good approval rates to be good in order to survive. Popularity is a like an addictive drug to career politicians. Solving problems and fixing things is not in their chemistry, just not in their DNA. It is better to blame someone for something that is not working than actually try to make it work by doing something about it. That would be courageous, thinking outside the box.\r\n\r\nIf the DONALD is true to his word and I have or see no reason why he won’t stick to his beliefs and run Washington like a business, career politicians must change or get out. Sure, there will be negotiation, but if the DONALD is seen early on to have a couple of wins under his belt, should anyone block change that he sees as another win, God help them.\r\n\r\nThe changes will be radical, possibly very innovative but definitely a new chapter away from the way the dysfunctional way that DC has operated in the past. It should be interesting. Politicians with lots of severe headaches, finding tranquilly and calm hiding under their desks frightened to speak to the gathering press to answer accusations. Hence the OXYCONTIN and PROZAC references.\r\n\r\nFrom my selfish perspective as a Forex trader where does all that leave me?\r\n\r\nThe simple answer is… I wish I knew! Right now, I am as uncertain about what happens and how it all unfolds as much as players who are in the know.\r\n\r\nWithout doubt the USD will be smacked up and smashed down. What do I know for certain at the moment?\r\n<ul>\r\n 	<li>The US is almost at full employment.</li>\r\n 	<li>The economy is looking to be on the up.</li>\r\n 	<li>The DONALD wants to make huge capital expenditure projects.</li>\r\n 	<li>The is good for inflation.</li>\r\n 	<li>This will be good for morale and consumer confidence.</li>\r\n 	<li>This will feed into retail sales.</li>\r\n 	<li>This will feed into housing, new home sales and re-sales.</li>\r\n 	<li>This will feed in home improvements.</li>\r\n 	<li>This will feed into earnings as demands for the right skills increase.</li>\r\n 	<li>Better deposit rates for savers!</li>\r\n</ul>\r\nThe above list and there’s more will be great for the US.\r\n\r\nThere are some negatives though.\r\n<ul>\r\n 	<li>Inflation on goods and services.</li>\r\n 	<li>Gas price increases.</li>\r\n 	<li>Higher Interest Rates.</li>\r\n 	<li>Increased Mortgage Costs.</li>\r\n</ul>\r\nThen of course we have the FED. Uber DOVE, Janet Yellen, who I think operates behind the curve is on a path of Monetary Policy Divergence away from all the other major central banks in the G7. With the positives and negatives that I’ve listed above and there are probably pages more of them, she runs the risk of being left behind.\r\n\r\nAs stated soooooo many times last year, it is so easy to be a DOVE. Keep things as they are, move after the event. Being a HAWK requires conviction, belief and a commanding authority. Does Janet Yellen have this skill set? Can she prepare the Financial Markets in advance for changes in the economy? I am NOT convinced. I think it’s so easy in a low rate environment but in an expansionary environment it requires a whole new skill set, the main one being to stand up to Wall Street.\r\n\r\nAs a Forex trader, the movement in the USD over the next four years is paramount to everything we do. It is at the heart of every trade we if we are trading the AUD/NZD. The way the USD moves and its correlation to commodities that can have a direct bearing on either the AUD or the NZD currency must be borne in mind. In this example the relationship between COPPER and GOLD and the USD directly affects the AUD.\r\n\r\nIf you remember, the plans that the DONALD had before coming to power have not altered, the alleged market experts, (I would say 100% of them) said that if the DONALD was elected the USD would dump and the USD/JPY would hit 95.00-98.00. What happened was the USD rallied like crazy to 103.50 from a low of 96.00 and the USD/JPY from 101.00 hit 118.00 both in less than a month after he was elected. Given the experts were about a much use a chocolate teapot, I think we have a difficult answer to the basic question on the USD.\r\n\r\nSo, keeping things simple here’s my take.\r\n\r\nIf THE DONALD starts getting his agenda passed and gets the funding on infrastructure, personally I think we are off. This alone creates jobs, spending, raw materials the whole nine yards.\r\n\r\nThe affordable care act (Obamacare), does not concern me, personally, I thought Obama was onto something but the drug companies have way too much power and influence in US. Health care will NEVER get fixed in the US, there is too much money at stake, it will be “a fudge” in my opinion. This may be a vote winner but it’s not a continual USD market mover like infrastructure.\r\n\r\nInfrastructure spending is the key to re-start the merry-go-round.\r\n\r\nWhere can the USD (DXY) go?\r\n\r\nThe overriding thought that is stuck in my head when I think about TRUMPECONOMICS, is extremes. Everything associated with THE DONALD is glitter and bright lights. He is Marmite (you either love him or hate him). His policies are in the same mold.\r\n\r\nIn my opinion the range here is dead simple. With success on infrastructure spending and an 8-year program I see 120.00 again on the DXY. Failure and the dysfunctional DC continues I see the USD toying with 80.00 maybe back to financial crisis lows of around 70.00.\r\n\r\nEither move will have spectacular results, vis-à-vis the Forex market. Recession and QE again, possibly negative interest rates on failure to succeed and buoyancy like never seen before on the other side of the equation.\r\n\r\nUSD/JPY at 150.00 or 75.00.\r\n\r\nEUR/USD at 90.00 or 1.4000.\r\n\r\nThese sound crazy numbers. I am 100% sober writing this blog.\r\n\r\nWe are living in extreme times. The new President is sworn in on a mandate of shake ‘em up. Everything he touches will be seen as RISK by the traditional hierarchy. He will face battles to move on policy. He will use whatever he can to force his agenda, twitter and the like, it will be messy, there will be blood and for these reasons I see extremes on the spectrum of success.\r\n\r\nSure, when first looking at my currency ranges they are not only massive but extreme but it’s horses for courses, in my opinion these are realistic ranges to consider in the event of success or failure.\r\n\r\nIn my opinion, to say that THE DONALD has stepped up and placed a noose around his own neck is an understatement. This is why, I firmly believe he will name and shame those who block jobs and US prosperity. He has a big reputation, much of it by self-proclamation, therefore failure is not an option.\r\n\r\n&nbsp;\r\n<ol start=\"6\">\r\n 	<li><strong> CLOSING THOUGHTS:</strong></li>\r\n</ol>\r\nNothing more to add here, I have said enough except,\r\n\r\nAs usual…\r\n\r\nAlways remember longevity in Forex trading can only be achieved through trading with good RISK and MONEY MANAGEMENT, and above all set your position sizes in accordance with the size of your account and allow for some flexibility.\r\n\r\nTake care, have a great trading week.\r\n\r\nScott Pickering\r\nThe Pip Accumulator\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/disclaimer/\">http://weeklyfxdrivethru.com/disclaimer/</a>\r\n\r\nBLOG VERSION: #228 FREE NEWSLETTER\r\nDATE: 22nd January 2017.<strong>\r\n\r\n</strong>','TRUMP, PROZAC, OXYCONTIN and THE USD','','publish','open','closed','','trump-prozac-oxycontin-usd','','','2017-01-21 15:09:13','2017-01-21 20:09:13','',0,'http://weeklyfxdrivethru.com/?p=8992',0,'post','',0),(8993,1,'2017-01-21 15:09:13','2017-01-21 20:09:13','&nbsp;\r\n<ol>\r\n 	<li><strong>INTRODUCTION:</strong></li>\r\n</ol>\r\nWelcome.\r\n\r\nAlmost through the first trading month of the year and I feel progress so far is “one step forwards… two steps back”. As things stand right now, I think that the month will be marginally up or marginally down measured by both pips and cash. In no way is it anything like a blowout month… I know that there is still a week left, let’s see if have a hallelujah moment or two.\r\n\r\nSo, last week.\r\n\r\nWe had a Theresa May moment, a Draghi Press Conference and the fashion show in Washington aka THE DONALD comes to town for his signing in ceremony.\r\n\r\nDraghi was a bore; and, frankly he had to present that way. Still lots to do, still dovish, need governmental support, the ECB cannot do it alone, headwinds getting stronger, fragile recovery, signs are good but much more to be done. We did NOT discuss tapering…. yeah right!! It was enough for the markets, and the single currency weakened a little across the board a perfect delivery by Draghi and the ECB.\r\n\r\nTheresa May, came out all guns blazing. We are leaving the EUROPEAN UNION but we are not leaving EUROPE. Not quite so sure the Brussels bureaucrats would view it quite the same. I have no doubt they were sat back with a good bottle red digesting all of May’s comments and poking fun.\r\n\r\nTheresa May placed a very positive spin on the BREXIT. “Play ball and all will be good for both sides”, however, she cherry picked all the goodies that she knows the EU will never agree to this because it would cause a CONTAGION. Despite all the previous commentary she tried once again to pre-negotiate.\r\n\r\nLet’s get this 100% clear and unambiguous; until article 50 is triggered, the UK is in the EU. You cannot negotiate an exit until you are in the exit process. This is basic stuff.\r\n\r\nI tweeted a bit about this last week. Hard BREXIT soft BREXIT? Come on its an exit and it will be difficult as both sides have lines in the sand that they simply cannot cross. The cable rallied on a cherry-picking speech. It was a great speech, very well written and very well delivered but the quality of the content in my opinion was a little “Mickey Mouse” and more of a dream than a belief that it could be possible. The markets as usual bought it, but the short squeeze rally was in my opinion overdone… “bigly”!\r\n\r\nFinally, the DONALD’S inauguration; I am covering THE DONALD in section 5 “SCOTT’S SOAPBOX”, so I write it all there.\r\n\r\nMoving on… “LIVE Broadcasts”\r\n\r\nI did not broadcast PERISCOPE #2 last Monday. The vehicle (PERISCOPE) is just not what I needed to meet the objectives that I have moving forward.\r\n\r\nThis coming Monday 23<sup>rd</sup> January at 5:30PM EST, I am launching the “WEEKLY FX DRIVE THRU – LIVE” via a “live in the market” webinar with my partners “demio”.\r\n\r\nThis arrangement allows me to share screens, office documents and LIVE charting screens. Hopefully after a few fumbles as I gain competencies it will be a seamless affair for all parties. All I ask is for you to be patient with me.\r\n\r\nWhilst this format gives me 100% what I want, there are a couple of issues, at the moment, that you as potential viewers need to be made aware of: -\r\n<ul>\r\n 	<li>You need Google Chrome as a browser to attend.</li>\r\n 	<li>You cannot view on smart phones or tablets, only Laptops and Desktops.</li>\r\n</ul>\r\nThe link is below: -\r\n\r\n<a href=\"https://my.demio.com/ref/4ZHMGqgfLACTvJXm\">https://my.demio.com/ref/4ZHMGqgfLACTvJXm</a>\r\n\r\nNot that I want to keep placing links in front of readers, but as this blog ends up in the strangest of places when it is redistributed on the web, I do have another one to add. I know via feedback that non-Forex Traders read it, not sure why, my humour is poor, my grammar weak, my swearing predictable and overall it does not get great Google feedback as they say it’s hard to read.\r\n\r\nFeck me I’m from Liverpool, we do not know big words. When I was a teenager growing up, and my Dad was a Policeman (Cop) we lived in a great area.  However, in general conversation, anything over two syllables and you were deemed a snob in danger of getting your head kicked in by a local gang! What I am saying here is I am no Fraser Crane I use small words.\r\n\r\nBack to the point…\r\n\r\nThe blog ends up in on-line newspapers and the like, and non-Forex traders read it and I have had a few communications asking me what is FX all about and how do I fit in? (After Christmas just gone, I don’t fit in very easily at all following massive over-indulgence).\r\n\r\nThe link below, to which you need to register tells you all about the PREMIUM SERVICE and how you can be a part of it.\r\n\r\nIt is titled “How to add an additional income stream with the PREMIUM SERVICE”. It is FREE to watch and takes 40 minutes. If you do not yet trade Forex, it could be just what you want. If you currently trade Forex, it could also be just what you want.\r\n\r\nRemember, it costs nothing to listen.\r\n\r\n<a href=\"http://www.onlinemeetingnow.com/register/?id=wrklqabmy3\">http://www.onlinemeetingnow.com/register/?id=wrklqabmy3</a>\r\n\r\nFinally, in this section…\r\n\r\nIf you would like to be in the monthly draw to win a “FREE 10-WEEK SUBSCRIPTION” to the PREMIUM SERVICE, valued at CAD$1,000.00, all you have to do is subscribe to receive this FREE NEWSLETTER on my website <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a>  On my welcome page just below my cube logo is where you complete your subscription.\r\n\r\n<strong> </strong>\r\n<ol start=\"2\">\r\n 	<li><strong> THE FX MARKET PLACE – LOOKING FORWARD:</strong></li>\r\n</ol>\r\n<strong><u>NOTE:</u></strong> This year, 2017, I am not going to look backwards in this section only forwards. News items / points of interest from the prior week will be covered in the introduction.\r\n\r\n<u>ECONOMIC DATA RELEASES:</u>\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/FX-NEWS-22012017.png\"><img class=\"aligncenter size-large wp-image-8959\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/FX-NEWS-22012017-1024x966.png\" alt=\"\" width=\"1024\" height=\"966\" /></a>\r\n\r\n<u>MY THOUGHTS ON THE WEEK AHEAD:</u>\r\n\r\nPhew!\r\n\r\nI completely got the BOC wrong last week. The rate statement OK, but I did not foresee Stephen Poloz announcing that rate cuts were back as options moving forwards. Let’s hope I am better this week.\r\n\r\nOn the docket this week in no particular order: -\r\n\r\nCPi data from Australia and New Zealand and GDP data from the UK and US. Also, Draghi speaks on Sunday night just after the open and that awfully nice chap from the RBNZ Graeme Wheeler chats to probably a bewildered audience on Wednesday…if the audience is not bewildered at the beginning there is a better than 50-50 chance by the end!\r\n\r\nThe big one should be the Supreme court ruling over the UK BREXIT. IF the House of Commons must vote on the BREXIT to ratify the referendum vote by the people, this will have enormous constitutional issues. Never mind the democratic issues that this will throw up. It could be a tasty piece of news. It’s one thing allowing Parliament to debate the BREXIT but the people in a democracy have decided and surely this (excuse the pun) “TRUMPS” parliament.\r\n\r\nI am no constitutional expert, not by any stretch, but if the people elect parliamentarians by voting for whom they choose, the people have the vote that should decide in a referendum. Let’s see.\r\n\r\nI see this week as a week where we could be and probably will be pushed up and down on the back of the number of executive orders placed by THE DONALD in his first few days of his presidency, plus, how many tweets the US Commander-in–chief issues and if he’s started any new wars, currency, trade or military!\r\n\r\nExpect the chop fest.\r\n\r\nAs Monty Python once said “No-one expects the Spanish Inquisition” … in 2017 it will be “No-one expects THE DONALD”.\r\n\r\nGet ready for it.\r\n\r\n<u> </u>\r\n\r\n<u>USD MAJORS – “IMMEDIATE” SUPPORT &amp; RESISTANCE with TREND:</u>\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/T-CHART-22012017.png\"><img class=\"aligncenter size-large wp-image-8960\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/T-CHART-22012017-1024x797.png\" alt=\"\" width=\"1024\" height=\"797\" /></a>\r\n\r\nMy trade charts for the USD majors are below. My thoughts, views and commentary is written on the charts.\r\n\r\nYou will find my charts, hopefully easy to follow. I only use Fibonacci levels, trend lines, confluence points and sometimes chart patterns to identify my high probability trades. If you have any difficulty understanding the points that I am trying to make, please do not hesitate to contact me.\r\n\r\nEUR/USD:\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/EURUSD-D-22012017.png\"><img class=\"aligncenter size-large wp-image-8967\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/EURUSD-D-22012017-1024x496.png\" alt=\"\" width=\"1024\" height=\"496\" /></a>\r\n\r\n&nbsp;\r\n\r\nGBP/USD:\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/GBPUSD-D-22012017.png\"><img class=\"aligncenter size-large wp-image-8968\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/GBPUSD-D-22012017-1024x496.png\" alt=\"\" width=\"1024\" height=\"496\" /></a>\r\n\r\n&nbsp;\r\n\r\nAUD/USD:\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/AUDUSD-D-22012017.png\"><img class=\"aligncenter size-large wp-image-8966\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/AUDUSD-D-22012017-1024x496.png\" alt=\"\" width=\"1024\" height=\"496\" /></a>\r\n\r\n&nbsp;\r\n\r\nNZD/USD:\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/NZDUSD-D-22012017.png\"><img class=\"aligncenter size-large wp-image-8969\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/NZDUSD-D-22012017-1024x496.png\" alt=\"\" width=\"1024\" height=\"496\" /></a>\r\n\r\n&nbsp;\r\n\r\nUSD/CAD:\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/USDCAD-D-22012017.png\"><img class=\"aligncenter size-large wp-image-8970\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/USDCAD-D-22012017-1024x496.png\" alt=\"\" width=\"1024\" height=\"496\" /></a>\r\n\r\n&nbsp;\r\n\r\nUSD/CHF:\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/USDCHF-D-22012017.png\"><img class=\"aligncenter size-large wp-image-8971\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/USDCHF-D-22012017-1024x496.png\" alt=\"\" width=\"1024\" height=\"496\" /></a>\r\n\r\n&nbsp;\r\n\r\nUSD/JPY:\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/USDJPY-D-22012017.png\"><img class=\"aligncenter size-large wp-image-8972\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/USDJPY-D-22012017-1024x496.png\" alt=\"\" width=\"1024\" height=\"496\" /></a>\r\n\r\n<strong>\r\n\r\n</strong>\r\n\r\n&nbsp;\r\n<ol start=\"3\">\r\n 	<li><strong> THE PREMIUM SERVICE:</strong></li>\r\n</ol>\r\n<u>WHAT IS THE PREMIUM SERVICE:</u>\r\n\r\nThe PREMIUM SERVICE is a subscriber, fee based trade set-up option for Forex traders regardless of experience or background. I provide traders suggested trades, and some market commentary related to open trades or factors within the overall market that have my interest.\r\n\r\nFull details of the PREMIUM SERVICE and costs to subscribe plus the various trade styles and how suggested trade set-ups are communicated can be found on my website landing page at <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a> by selecting THE PREMIUM SERVICE tab.\r\n\r\nAdditional information can be found by clicking TESTIMONIALS, PART-TIME TRADERS and FX PROMOTIONS tabs. To subscribe to THE PREMIUM SERVICE, you will require a valid credit card.\r\n\r\nIf you would like to watch/listen to a 40-minute PREMIUM SERVICE webinar to learn more about what I can do to help you with your trading. Then click the link below and register. It is FREE… it costs nothing to listen.\r\n\r\n<a href=\"http://www.onlinemeetingnow.com/register/?id=wrklqabmy3\">http://www.onlinemeetingnow.com/register/?id=wrklqabmy3</a>\r\n\r\n&nbsp;\r\n<ol start=\"4\">\r\n 	<li><strong> PREMIUM SERVICE – SUBSCRIBER CONTENT AREA:</strong></li>\r\n</ol>\r\n<ol start=\"5\">\r\n 	<li><strong> SCOTT’S SOAPBOX:</strong></li>\r\n</ol>\r\nIf you recall, in my final “DRIVE THRU” of 2016, I provided a list of TRADING PREDICTIONS for 2017. I basically named several geopolitical events that I feel will weigh on the markets this year. Therefore, for the first few weeks of 2017, I want to look at these events in a little more detail.\r\n\r\nAs you will be aware, so much has been said already on the subjects that I have highlighted, I can only add points and views that are my own, based upon how I see things and how I am going to view trading around these events.\r\n<p style=\"text-align: center;\"><strong>TRUMP, PROZAC, OXYCONTIN and THE USD</strong></p>\r\nThere always seems to be something similar to a theatrical overtone to anything that is TRUMP associated in my opinion. I cannot put my finger on exactly what, but it’s almost as if one is expecting some TV style stunt to happen in the middle of a speech or something like that.\r\n\r\nI am not sure whether it’s an overriding feeling of dis-belief that he actually pulled it off, beat the odds, beat a well-oiled machine, claimed victory with his whole party against him, in fact, he alone, with just the help of his family and his running partner, took on the might of the Presidency and the Billions of dollars behind a Clinton campaign and won.\r\n\r\nThe Republican party that hid under rocks during the campaign are now only too happy to crawl out from under that rock and feast on the spoils of victory to which their added value was zero, in fact in some cases minus.\r\n\r\nThis is one main reason why I have a low opinion of politicians. They are only fair weather friends. I realize that there are some good ones, but in most countries, you can count them on one hand. I now have first-hand experience of 5 countries.\r\n\r\nMoving on…\r\n\r\nThanks be to God, that neither Piers Morgan or Omarosa parachuted in on the parade on Pennsylvania Avenue, that would have really put my, “it’s about to happen”, reality TV, TV stunt thoughts front and centre.\r\n\r\nDefinitely moving on now….\r\n\r\nThe fashion show in DC went off without a snag just 30 minutes late…I must say that the Brits would never stand for the delay, being the masters of pomp and ceremony everything in the UK is rehearsed and timed repeatedly down to almost the tenth of a second for accuracy.\r\n\r\nHowever, one must say that despite what we may think of THE DONALD the fashion police in DC will take on a new role for at least the next four years commenting on Melania, Ivanka and wives of Don Jnr and Eric. In some ways, it could be a pleasant distraction from the twitter account!\r\n\r\nThe speech in my opinion was just like one from the stump. He had to do that, I cannot for the life of me get over the debate about it.  It was 100% expected.\r\n\r\nSo; all over Washington right now, Republican and Democrats alike are in front their GP (Doctor), requesting drugs to get them through the first 100 days of the TRUMP administration.  I never give out any recommendations on stocks or even FX trades, I cannot, but what I can tell you is that we should all watch the shares of PROZAC and OXYCONTIN, I think these could be good buys, whoever manufactures them.\r\n\r\nThe whirlwind is in town and I would expect that blockages to change will be named and shamed publicly like never before to alert the people who voted them in that they do not have the future of a United States in their heart, or words to that effect.\r\n\r\nPoliticians the world over, hide behind the party line as a reason to oppose, this is how career politicians survive. If they can blame someone instead of defending their own actions, it suits them better as they need continual good approval rates to be good in order to survive. Popularity is a like an addictive drug to career politicians. Solving problems and fixing things is not in their chemistry, just not in their DNA. It is better to blame someone for something that is not working than actually try to make it work by doing something about it. That would be courageous, thinking outside the box.\r\n\r\nIf the DONALD is true to his word and I have or see no reason why he won’t stick to his beliefs and run Washington like a business, career politicians must change or get out. Sure, there will be negotiation, but if the DONALD is seen early on to have a couple of wins under his belt, should anyone block change that he sees as another win, God help them.\r\n\r\nThe changes will be radical, possibly very innovative but definitely a new chapter away from the way the dysfunctional way that DC has operated in the past. It should be interesting. Politicians with lots of severe headaches, finding tranquilly and calm hiding under their desks frightened to speak to the gathering press to answer accusations. Hence the OXYCONTIN and PROZAC references.\r\n\r\nFrom my selfish perspective as a Forex trader where does all that leave me?\r\n\r\nThe simple answer is… I wish I knew! Right now, I am as uncertain about what happens and how it all unfolds as much as players who are in the know.\r\n\r\nWithout doubt the USD will be smacked up and smashed down. What do I know for certain at the moment?\r\n<ul>\r\n 	<li>The US is almost at full employment.</li>\r\n 	<li>The economy is looking to be on the up.</li>\r\n 	<li>The DONALD wants to make huge capital expenditure projects.</li>\r\n 	<li>The is good for inflation.</li>\r\n 	<li>This will be good for morale and consumer confidence.</li>\r\n 	<li>This will feed into retail sales.</li>\r\n 	<li>This will feed into housing, new home sales and re-sales.</li>\r\n 	<li>This will feed in home improvements.</li>\r\n 	<li>This will feed into earnings as demands for the right skills increase.</li>\r\n 	<li>Better deposit rates for savers!</li>\r\n</ul>\r\nThe above list and there’s more will be great for the US.\r\n\r\nThere are some negatives though.\r\n<ul>\r\n 	<li>Inflation on goods and services.</li>\r\n 	<li>Gas price increases.</li>\r\n 	<li>Higher Interest Rates.</li>\r\n 	<li>Increased Mortgage Costs.</li>\r\n</ul>\r\nThen of course we have the FED. Uber DOVE, Janet Yellen, who I think operates behind the curve is on a path of Monetary Policy Divergence away from all the other major central banks in the G7. With the positives and negatives that I’ve listed above and there are probably pages more of them, she runs the risk of being left behind.\r\n\r\nAs stated soooooo many times last year, it is so easy to be a DOVE. Keep things as they are, move after the event. Being a HAWK requires conviction, belief and a commanding authority. Does Janet Yellen have this skill set? Can she prepare the Financial Markets in advance for changes in the economy? I am NOT convinced. I think it’s so easy in a low rate environment but in an expansionary environment it requires a whole new skill set, the main one being to stand up to Wall Street.\r\n\r\nAs a Forex trader, the movement in the USD over the next four years is paramount to everything we do. It is at the heart of every trade we if we are trading the AUD/NZD. The way the USD moves and its correlation to commodities that can have a direct bearing on either the AUD or the NZD currency must be borne in mind. In this example the relationship between COPPER and GOLD and the USD directly affects the AUD.\r\n\r\nIf you remember, the plans that the DONALD had before coming to power have not altered, the alleged market experts, (I would say 100% of them) said that if the DONALD was elected the USD would dump and the USD/JPY would hit 95.00-98.00. What happened was the USD rallied like crazy to 103.50 from a low of 96.00 and the USD/JPY from 101.00 hit 118.00 both in less than a month after he was elected. Given the experts were about a much use a chocolate teapot, I think we have a difficult answer to the basic question on the USD.\r\n\r\nSo, keeping things simple here’s my take.\r\n\r\nIf THE DONALD starts getting his agenda passed and gets the funding on infrastructure, personally I think we are off. This alone creates jobs, spending, raw materials the whole nine yards.\r\n\r\nThe affordable care act (Obamacare), does not concern me, personally, I thought Obama was onto something but the drug companies have way too much power and influence in US. Health care will NEVER get fixed in the US, there is too much money at stake, it will be “a fudge” in my opinion. This may be a vote winner but it’s not a continual USD market mover like infrastructure.\r\n\r\nInfrastructure spending is the key to re-start the merry-go-round.\r\n\r\nWhere can the USD (DXY) go?\r\n\r\nThe overriding thought that is stuck in my head when I think about TRUMPECONOMICS, is extremes. Everything associated with THE DONALD is glitter and bright lights. He is Marmite (you either love him or hate him). His policies are in the same mold.\r\n\r\nIn my opinion the range here is dead simple. With success on infrastructure spending and an 8-year program I see 120.00 again on the DXY. Failure and the dysfunctional DC continues I see the USD toying with 80.00 maybe back to financial crisis lows of around 70.00.\r\n\r\nEither move will have spectacular results, vis-à-vis the Forex market. Recession and QE again, possibly negative interest rates on failure to succeed and buoyancy like never seen before on the other side of the equation.\r\n\r\nUSD/JPY at 150.00 or 75.00.\r\n\r\nEUR/USD at 90.00 or 1.4000.\r\n\r\nThese sound crazy numbers. I am 100% sober writing this blog.\r\n\r\nWe are living in extreme times. The new President is sworn in on a mandate of shake ‘em up. Everything he touches will be seen as RISK by the traditional hierarchy. He will face battles to move on policy. He will use whatever he can to force his agenda, twitter and the like, it will be messy, there will be blood and for these reasons I see extremes on the spectrum of success.\r\n\r\nSure, when first looking at my currency ranges they are not only massive but extreme but it’s horses for courses, in my opinion these are realistic ranges to consider in the event of success or failure.\r\n\r\nIn my opinion, to say that THE DONALD has stepped up and placed a noose around his own neck is an understatement. This is why, I firmly believe he will name and shame those who block jobs and US prosperity. He has a big reputation, much of it by self-proclamation, therefore failure is not an option.\r\n\r\n&nbsp;\r\n<ol start=\"6\">\r\n 	<li><strong> CLOSING THOUGHTS:</strong></li>\r\n</ol>\r\nNothing more to add here, I have said enough except,\r\n\r\nAs usual…\r\n\r\nAlways remember longevity in Forex trading can only be achieved through trading with good RISK and MONEY MANAGEMENT, and above all set your position sizes in accordance with the size of your account and allow for some flexibility.\r\n\r\nTake care, have a great trading week.\r\n\r\nScott Pickering\r\nThe Pip Accumulator\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/disclaimer/\">http://weeklyfxdrivethru.com/disclaimer/</a>\r\n\r\nBLOG VERSION: #228 FREE NEWSLETTER\r\nDATE: 22nd January 2017.<strong>\r\n\r\n</strong>','TRUMP, PROZAC, OXYCONTIN and THE USD','','inherit','closed','closed','','8992-revision-v1','','','2017-01-21 15:09:13','2017-01-21 20:09:13','',8992,'http://weeklyfxdrivethru.com/8992-revision-v1/',0,'revision','',0),(6860,16,'2015-11-27 10:48:45','2015-11-27 15:48:45','<h3 style=\"text-align: center;\">THE PREMIUM SERVICE\n(The Home of Single-Lot Trading)</h3>\n\n<h4 style=\"text-align: center;\">ARE YOU ALREADY A PART-TIME FOREX TRADER?\nor\nWOULD YOU LIKE TO ADD ANOTHER INCOME STREAM TO YOUR HOUSEHOLD INCOME?\n\nOne category of trader that is missed, ignored and frankly not really catered for by the FX market is the “the part-time” trader. Although many Forex educators have tried to formulate a strategy to work for traders who have limited access to their computers, they have had very limited success. Without doubt the development of trading on cell phones and tablets has helped, however trading part-time throws up limitations full-time traders just cannot grasp.\n\nHaving traded Forex myself now for over 8 years, I can understand the frustrations of the part-time trader and the feeling of isolation this brings. I started trading part-time, however my circumstances allowed me to move to full-time trading. Not everyone has this luxury. However, I get it, I understand the frustrations of a part-time trader when trades are closed when you are unable to access your computer. In the real world we have to accept that at times the markets will dictate trading, this cannot be avoided, however if there was a way this could be reduced, the involvement of part-time traders in the Forex market would rise again. \n\nWhen the PREMIUM SERVICE started in 2014, I tried to accommodate part-time traders needs to my best ability. I never really had the unique sales position that I strove to achieve and like many others I failed in my goals that I set myself in accommodating part-timers. The PREMIUM SERVICE profitability was on target, in fact it exceeded my expectations, but my objective of creating and supporting a niche for part-time traders just did not happen.\n\nIf you visit my website <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a> under the TAB on my landing page titled PREMIIUM SERVICE all the 2015 and 2014 performances are compared and reviewed.\n\nI have shown that no matter what the size of budget you have, you can make money from Forex trading. This was my initial goal niche area, whether your account has a balance of $1,000.00, a $ 100,000,00, or somewhere in between the Forex market has opportunities for you to make money.\n\nSince offering a fee-based subscription option, the PREMIUM SERVICE, I had categorized my trade set ups into three different types of trades. \n\nFLASH TRADES – at market\nRADAR TRADES – limit orders\nFUNDAMENTAL TRADES – limit orders with longer-term horizons\n\nIn my opinion, you have to be an active trader to trade both RADAR and FLASH trades. It was part of my goal that the FUNDAMENTAL trades would be attractive to all traders but especially part-time traders.\n\nIt is with the FUNDAMENTAL trades that I have been reviewing my thoughts, ideas and objectives towards the end of 2015.\n\n<h3 style=\"text-align: center;\">BACKGROUND TO MY CONCEPT:</h3>\n\nFollowing moves in the major central bank monetary policies (FED, ECB, BOJ, BOE, SNB, RBA, BOC and RBNZ), we now have policy divergence across the globe. In my opinion this is a tradable feature and because it should be directional it has a hugely potential tradable benefit.\n\nI decided late October 2015, that from November 1st 2015 all future FUNDAMENTAL TRADES would be based around central bank divergence trades. This change was initially communicated to my existing PREMIUM SERVICE subscribers, who reside in all corners of the globe, trade with different sizes of accounts, some are active traders, some part-time, some just seasonal, many are technical traders and many are traders based off fundamental news. It is the full spectrum.\n\nI have received tremendous feedback, in particular from my part-time traders, who were missing some suggested trade set-ups as they could not access their computer devices enough times in the day to check for set-ups.\n\nFrom my perspective, it is much easier to plan and schedule DIVERGENT FUNDAMENTAL TRADES. Being, realistic, there are bound to be occasions when an entry or an exit price could be missed, nothing can be 100% in this market place but my part-time traders are delighted, and therefore so am I.\nArmed with this information, it gave me greater comfort when moving forward with this trading strategy.\n\nAs mentioned, the trade set-ups suggested are intended to have a longer-term trading perspective. They are not specifically aimed at traders who consider themselves to be part-time Forex traders, all traders can of course take advantage, I see it as an additional income stream opportunity for all. Who doesn’t want extra $$$. \nMy definition of part-time is those of you who are only able to look at your computer screens, or, mobile devices to check trades two-three times a day.\n\nA key feature of these set-ups is that they have much wider than normal stops to allow for market swings and volatility. The compensation for this is that trades are smaller in size to allow for swings in volatility, but multiple trades in the same currency pair are added when the core trade has traction in the desired direction.\n\nI am suggesting that in order to protect RISK, your initial trade sizes are no more than 10% of your overall individual trade risk parameters that you have set in your TRADING PLAN. As the initial trades gather traction, additional trade set ups are suggested, these are managed on an individual basis based upon your account size and risk management parameters.\n\nMy goal is to have over a period of time multiple trades open/live at any one time maybe 2/3 open/live trades with the same currency pair. I will of course suggest to take some profits along the way, but hopefully at the same time letting trades run as far as possible. \n\nWe are entering a period of two years or so at least, with divergent central bank monetary policies. As a Forex trader this gives me increased confidence when placing trades knowing that central bank policy is supportive of my trade direction. Whilst there is still risk attached to the trade, risks are minimized, and the longer-term nature of the trades allow for swings and volatility. If I can achieve my goal of 75% -25% profitable to losing trades over an extended trading period, I will be happy.\n\n<h3 style=\"text-align: center;\">LOOKING AHEAD INTO 2016 and BEYOND:</h3>\n\nBased on my historical performance data and using average take profits, stop loss levels and anticipated trade volumes for next year, the information below gives you an idea of the goals and objectives that I have set myself to achieve in 2016.\n\nMy cashflow projection for DIVERGENT FUNDAMENTAL TRADES for 2016 is below.\n\nThis is a projection based off previous performances over a two-year period so it has credibility. I have calculated this allowing for whether you are a micro, mini or standard lot trader. \n\n</h4>','Part-Time Forex Traders','','inherit','closed','closed','','6858-autosave-v1','','','2015-11-27 10:48:45','2015-11-27 15:48:45','',6858,'https://weeklyfxdrivethru.com/6858-autosave-v1/',0,'revision','',0),(9110,1,'2017-02-12 18:16:04','2017-02-12 23:16:04','<div>\r\n<h3 style=\"text-align: center;\"></h3>\r\n<strong>1. What is the PREMIUM SERVICE?</strong>\r\n\r\nThe PREMIUM SERVICE is a Forex subscription service that provides you with trade set-ups  both as they happen, or by a strategic entry, plus you will also receive from time to time my thoughts and views on the Forex market. They are my trades, my ideas. I will let you know what I am doing, but I cannot advise you whether to trade or not. If you like the trade that I am taking the decision to trade or not is entirely up to you.\r\n\r\nOver the following few paragraphs I am hoping that I will convince you that having a subscription to the PREMIUM SERVICE is not only a shrewd trading decision but also a shrewd business decision.  Whilst I cannot 100% guarantee that you will make money from the trades I suggest, the PREMIUM SERVICE now has a two-year track record of a profitable performance, regardless of the size of your investment into the Forex market.\r\n\r\nThe PREMIUM SERVICE is different from other TRADE SIGNAL providers. I offer a personal service that invites you to ask questions. I am contactable at most times. I enjoy interaction with my subscribers. I consider myself an educator as well as a trader. I trade my set-ups.\r\n\r\n</div>\r\nMy aim is to create a consistency in trading for all subscribers, whether you are trading with a broker account of $1,000.00 or $500,000.00. The thrill / delight of a trade set-up performing in line with your expectations is still exciting to me after many years of trading.\r\n<div>\r\n\r\n&nbsp;\r\n\r\n<strong>2. How did the PREMIUM SERVICE evolve?</strong>\r\n\r\nI started trading Forex about 10 years ago. Like many new traders I thought that the Forex Market was: -\r\n\r\na)    An easy way to add an additional income stream into my family’s monthly finances.\r\n\r\nb)    Quite straightforward, the chart reading seemed easy to follow; until I realized the trainer was always looking back at this is what you should have done.\r\n\r\nc)    Nobody really sat me down and taught me about “Levels of interest”, “Support and Resistance”, “Pivot Points and their uses”, and how useful certain “Fibonacci levels” are when plotting potential moves.\r\n\r\nIt took me 3 or 4 years of learning the hard way, to come to the realization that trading Forex is not that straightforward and it most certainly is NOT easy. My last 3 years or so of trading however has changed my entire view on the markets and how I trade them.\r\n\r\nIn 2013, I made the decision that I would change the format of my blog “THE WEEKLY FX DRIVE THRU”, which had previously contained many successful trade set-ups on all types of trades and currency pairs to have a different focus.\r\n\r\nStarting in 2014 I launched a more detailed weekly review called the PREMIUM SERVICE in which all my set-ups and thoughts on the market are contained. Details of the first two years of the PREMIUM SERVICE performance are set out below in section 6.\r\n\r\nThe PREMIUM SERVICE has completed two years of performance with a full, complete and published profitable trading history behind it.  My initial goals and objectives have been achieved. Feedback from subscribers is positive. There is a family \"feel\" to the service and I am to coin a phrase…. absolutely delighted.\r\n\r\nThe PREMIUM SERVICE moves into 2016, stronger and with an additional trade style  POSITION  TRADES formerly \"PART-TIME TRADE TRADES\". There are thousands of Forex traders in the world that I classify as PART-TIME. They fall between a rock and hard place when it comes to help. Brokers are just not interested. Forex trading is lonely as we all know and the PART-TIME trader is even more remote. My goal is to bring the PART-TIME TRADER into the PREMIUM SERVICE by providing these traders with limited computer/ smart phone access specific trades.\r\n\r\n&nbsp;\r\n\r\n</div>\r\n<div>\r\n\r\n<strong>3. The PREMIUM SERVICE is for all traders - what type of trader are you?</strong>\r\n\r\nThe PREMIUM SERVICE attracts many different traders at different levels of experience: -\r\n<ul>\r\n 	<li>NEW FULL-TIME OR NEW PART-TIME TRADERS – Looking to generate either a permanent additional income stream or a supplementary income stream. PART-TIME traders specifically, should also check out my other tab on my landing page titled PART-TIME TRADERS. The POSITION trade set-ups are hoped to be longer-term, specifically aimed at traders who do not have unlimited access to their devices to check trades. These trades are for those traders who can only view their computers only twice/three times a day to review progress in full. I do however, assume via an iPhone or equivalent that you could react to the odd trade amendment that may be sent via twitter. Whilst these longer-term POSITION trades are aimed at PART-TIME traders they are of course open to all traders.</li>\r\n 	<li>AN INTERMEDIATE TRADER – Looking for additional support, maybe a different perspective on trades.</li>\r\n 	<li>A SEASONED TRADER – Finding it very isolated and hard with existing trading conditions and looking for confirmations of another traders view.</li>\r\n 	<li>A TECHNICAL TRADER – Just looking for an alternative view, a different set of eyes interpreting the same chart, maybe seeking some validation.\r\nMaybe you just want a “Fundamental traders” viewpoint as an alternative.</li>\r\n</ul>\r\n&nbsp;\r\n\r\n<strong>4. TRADE STYLE definitions:</strong>\r\n\r\n<strong>RADAR TRADES (RT):</strong>\r\nThese are pre-meditated limit order entry trades set from either Fibonacci levels, pivot points or previous support and resistance based off a combination of horizontal or trend line support or resistance. The goal if possible, is to allow the trade to gather traction and develop into a swing or even a longer-term position trade.\r\n\r\nRADAR TRADES are realistically designed and more suitable to day traders, or traders with a shorter time framed horizon with trades. However, as stated they can sometimes progress further.\r\n\r\nIn my opinion traders need to be active to participate in these trade set-ups.\r\n\r\n<strong>FLASH TRADES (FT):</strong><u>\r\n</u>These trades are simply market opportunist trades in LIVE market conditions. These trades are either based off a pullback strategy, a GIMME10 strategy, or off momentum trading at the time of entry. The goal is to either take 10-30 pips or see a sufficient move to place a protective stop in place to see if a swing trade develops.\r\n\r\nSome FLASH TRADES may form part of an overall trading plan with a given currency pair, but the entry could not be made via a LIMIT ORDER.\r\n\r\nFLASH TRADES are realistically for traders with very short-term trading horizons. They are called FLASH because I see these as quick momentum trades, although, should the momentum keep moving these trades will remain in play. You will however notice that I will move stops to maintain profits and protect profits. It is rare that I hold onto these trades for more than a day. The usual life span is minutes rather than hours.\r\n\r\nIn my opinion, traders need to be very active to participate with these trade set-ups.\r\n\r\n<strong>FUNDAMENTAL TRADES (FUN):</strong><u>\r\n</u>These will be trades based off my TRADING PLAN goals for trades in line with my longer-term market views.\r\nTrades in this area will use in addition Fibonacci levels, Pivot points, trend lines and prior support and resistance levels, weekly and monthly ATR’s (Average True Ranges) when setting Stop Loss levels. These trades are hopefully of a longer-term nature. They will be initially “single-lot” sized trades due to the wider stop placements that will be applied.\r\n\r\nThese trades are for traders who look to hold onto positions for a few days, maybe weeks. Because they are limit order entry trades, usually, as a trader you do not need to be sitting in front of your screens 24 x 7 to participate with these trades.\r\n\r\n<strong>POSITION TRADES (POS):\r\n</strong>These trade set-ups are intended to have a longer-term trading perspective. They are not only targeted at traders who consider they are part-time Forex traders; obviously, all traders can of course take advantage. (My definition of a part-time trader is one who is only able to look at their computer screens, or, mobile devices to check trades two or three times a day). A key feature of these set-ups is that they have much wider than normal stops to allow for market swings and volatility. The trades therefore have a smaller position size to allow for the swings in volatility, but multiple trades in the same currency pair are added when the core trade has gained traction in the desired direction.My goal is to have multiple trades open/live at any one time and maybe 2/3 open/live trades with the same currency pair. I will of course suggest to take some profits along the way, but hopefully at the same time letting trades run as far as possible.\r\n\r\nThese trades were initially launched for those traders who like to hold positions for weeks, even months, and for traders who do NOT want to sit in front of their screens 24 x 7. These trades are also suit PART-TIME traders who can only check their trades on twitter alerts two or three times a day or are only able to look at their computer screens only a few times a day.\r\n\r\n</div>\r\n&nbsp;\r\n<div>\r\n\r\n<strong>5. How does the PREMIUM SERVICE work; How is it different; What are your benefits of being a subscriber?</strong>\r\n\r\nFirstly, it is NOT an automated system.\r\n\r\nI have a simple annual target on pips; 10,000 pips from 40 weeks of trading.\r\n\r\nI provide you with my trade set-ups and trades that are on “MY RADAR”. I post trade set-ups at the <strong>@</strong>ThePremService twitter feed and I also email  the set-up data for all trade styles, except FLASH trades. During a typical week about 10 trades on average are posted. It is up to you if you decide to follow these trades or not, I am, just telling you what I am doing.\r\n\r\nPREMIUM SERVICE subscribers have access to an exclusive secure twitter feed into which 24x7 I will tweet trade ideas, set-ups, amendments to limit orders, amendments to live trades, basically anything that is on my mind. (Whilst I live on NYC time I am active in most sessions, I sleep at weekends).\r\n\r\nSubscribers also have access to a whole section of training materials on the website. All the trades that are entered are summarized and posted on excel spreadsheets on the website, so that you can see if you did not take a particular trade, whether it made money or not.\r\n\r\nNew in 2017, PREMIUM SERVICE (PLATINUM) subscribers will also receive if they want it, a monthly review one-on-one with me about the way the markets are trading, my general fundamental thoughts and views, plus we can review active trading styles etc. It is not compulsory for PLATINUM subscribers it is an option.\r\n\r\nIn addition, weekly PERISCOPE broadcasts will start offering all subscribers a direct insight into my thoughts on the market conditions.\r\n\r\nI also provide bespoke training, if YOU want it. This is priced individually based upon YOUR needs, timings and requirements. More details about this can be found under the EDUCATION tab in the section called Mentoring and Coaching.\r\n\r\nRead my TESTIMONIALS section, do not just take my word for it.  Everything is published...both the good and the not so good. Like every Forex trader I have losses, it is part of trading when RISK is involved. I have NO secrets all good and bad trades are published. What you see is what you get; I am NOT a CITIBANK or BARCLAYS, I am Scott Pickering a Forex Trader.\r\n\r\nTrading Forex is not a win it quick cash grab. It is basically a RISK ASSESSMENT analysis of  trading charts supported by a FUNDAMENTAL overview of the market. It is fascinating, exciting, thrilling, very rewarding but also frustrating and annoying all at the same time. There are many things written about Forex. It is often called a \"gamblers paradise\" because it\'s a 50-50 option....simply up or down. Better odds than Las Vegas. There is much more to Forex Trading than odds.\r\n\r\nIf you are a gambler please just go to Las Vegas or your closest Casino. Trading Forex involves added risk due to LEVERAGE that Las Vegas does NOT have.\r\n\r\nI can help you through the all the issues no matter what level of trading experience you have, as I have mentioned already I am a trainer / educator as well as a trader and one of my personal goals is to help traders trade with greater consistency as this provides longevity in trading.\r\n\r\nSo, what do you receive from me as a subscriber to the PREMIUM SERVICE: -\r\n\r\nAs soon as I see a trade set-up or a trade that I want to trade, I send out a tweet via my subscribers only TWITTER account @ThePremService see the example below: -\r\n\r\n</div>\r\n<div>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2016/05/TWEET2-FOR-WHAT-YOU-GET.png\"><img class=\"aligncenter size-full wp-image-7837\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2016/05/TWEET2-FOR-WHAT-YOU-GET.png\" alt=\"TWEET(2) FOR - WHAT YOU GET\" width=\"263\" height=\"324\" /></a>\r\n\r\n</div>\r\n&nbsp;\r\n\r\nAs you can see the trade set up is clear and is coded to the TYPE (FUNDAMENTAL ) of trade with a reference number (FUN344) that is used throughout my website and all communications to track the performance of the trade.\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2016/05/EMAIL-FOR-WHAT-YOU-GET.png\"><img class=\"aligncenter size-full wp-image-7835\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2016/05/EMAIL-FOR-WHAT-YOU-GET.png\" alt=\"EMAIL FOR - WHAT YOU GET\" width=\"463\" height=\"538\" /></a>\r\n\r\n&nbsp;\r\n\r\nThis excel sheet summaries the trade that was tweeted and also comes with the trading chart that accompanied the original TWEET regarding the set-up. As you can see from this example above, I flavour the trade set-up with my thoughts, what sized entry I am taking and what the RISK-REWARD is for the trade, plus as it was a LIMIT ORDER set-up, what the trade expiration date is that is set with my broker.\r\n\r\n<span style=\"text-decoration: underline;\"><strong>PLEASE NOTE:</strong></span> I am a trader 24x5 and NOT all trades will remain open based upon the original trade  parameters outlined when the set-up is posted. I have to adjust to the trade as the trade moves and how the markets are performing. I have to react to geopolitical news events as they happen. I will tell you via TWITTER what I am doing, whether it be moving the LIMIT position or the STOP position etc. but trading is also about reacting to market conditions and some trades will close earlier than originally intended and some trades will be pro-longed. I trade with FULL flexibility within my TRADING PLAN guidelines.\r\n\r\nIn addition to set-ups, I also provide some market insights and commentaries. This may come via email or via TWITTER as the example below: -\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2016/05/TWEET-FOR-WHAT-U-GET.png\"><img class=\"aligncenter size-full wp-image-7834\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2016/05/TWEET-FOR-WHAT-U-GET.png\" alt=\"TWEET FOR - WHAT U GET\" width=\"272\" height=\"304\" /></a>\r\n\r\n&nbsp;\r\n\r\nEach weekend, in addition to the commentary and insights that you receive from time to time during the week, as a subscriber you receive a complete version of the WEEKLY FX DRIVE THRU blog via PDF as well as the on-line version in the secure \"subscribers only area\" of my website. The exclusive subscriber version contains more information than the FREE NEWSLETTER version.\r\n\r\nIn the subscribers only area, there are pages of Forex background educational pages covering chart analysis, candlestick patterns and many trade style articles that support you as a Forex Trader. Also in this area is the history of the PREMIUM SERVICE covering its trading history.\r\n<ul>\r\n 	<li>I try to be different than other \"Signal Services\".</li>\r\n 	<li>I am NOT perfect; I am a human, NOT a robot.</li>\r\n 	<li>I am a trader as well as a trainer.</li>\r\n 	<li>My trades are transparent and I have losses like every trader has.</li>\r\n 	<li>My goal is to generate 10,000 pips per year.</li>\r\n 	<li>Unless I am achieving a ratio of 75% profitable trades and 25% loss making trades as a minimum, I am NOT happy with my performance.</li>\r\n 	<li>I work long hours and I eat and breathe the Forex market.</li>\r\n 	<li>As a subscriber, I tell you what I am doing and when I am doing it. It is up to you if you follow, copy or do your own thing.</li>\r\n 	<li>If you have any question regarding a PREMIUM SERVICE subscription, please contact me at: - premium service@weeklyfxdrivethru.com</li>\r\n</ul>\r\n<div>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n<strong>6. THE PREMIUM SERVICE –  Completed Annual Results 2014, 2015 and 2016:</strong>\r\n\r\nTo give a complete view of the returns possible using the PREMIUM SERVICE, the annual performances below, include costs to trade that I am involved with, such as the costs to place a trade with your broker and the annual PREMIUM SERVICE subscription fees.\r\n\r\n<span style=\"text-decoration: underline;\">PLEASE NOTE</span>: - The returns shown below are based off trading just single lots in each trading style/category. Obviously, if are able to trade two lot position sizes the gross returns would be double and the costs to trade also double. RISK MANAGEMENT also comes into play when position sizes increase and should you require help or guidance on this subject please contact me. In addition, remember, the spread sheets below show a net position including an annual subscription to the PREMIUM SERVICE.\r\n\r\n</div>\r\n<div>\r\n\r\n<strong>2016 COMPLETE:\r\n</strong>\r\n\r\n<strong><img class=\"aligncenter size-large wp-image-8831\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/12/2016-PREM-SERVICE-COMPLETE-976x1024.png\" alt=\"\" width=\"976\" height=\"1024\" />\r\n</strong>\r\n<div>\r\n<p style=\"text-align: center;\"><strong>Looking specifically at 2016 above:</strong></p>\r\n<p style=\"text-align: center;\">Let\'s assume that you are a single mini lot trader of ALL trades that were suggested.</p>\r\n\r\n</div>\r\n<p style=\"text-align: center;\">You would have made 677 trades\r\nCost $677.00\r\nGross Income from the 677 trades = $13,575.00\r\nLess your cost to trade of $677.00 = Net income of $12,898.00\r\nLess your PREMIUM SERVICE subscription of $ 940.00* = <strong><span style=\"text-decoration: underline;\">$11,958.00</span>\r\n</strong>(*CAD$ equivalent)</p>\r\n<p style=\"text-align: center;\">From your investment of $677 you could make $11,958.00\r\nEverything is published there are no secrets.</p>\r\n<p style=\"text-align: center;\">You just have to work at your screens as much as I do to be around for every trade set up\r\nWhere else can you get such a return on capital?</p>\r\n<p style=\"text-align: center;\">If you were able to trade 2 x mini lots your net return could be:-\r\n($113,575.00 x 2 = $27,150.00 - (677 x 2 ) $1,354 = $25,796.00\r\nLess your PREMIUM SERVICE subscription of $940.00 = <span style=\"text-decoration: underline;\"><strong>$24,856.00</strong></span></p>\r\n<p style=\"text-align: center;\">You just to have to ensure that you have a broker account that can accommodate the risks involved to trade at these trade sizes relevant to the income goals that you have set yourself.</p>\r\n<p style=\"text-align: center;\">But you must take note that at any one time there can be as many as 30 live trades in operation with variable STOP LOSS RISKS attached to them. You need to consider the potential risks associated and fund your account accordingly to accommodate the flexibility that is required.</p>\r\n<p style=\"text-align: center;\">If you do not do this you will potentially expose yourself to margin calls from your broker.</p>\r\n<p style=\"text-align: center;\">As long as you trade with real and effective RISK MANAGEMENT and POSITION SIZING principles\r\nin place and trade in accordance with your TRADING PLAN, it is possible to make money part of full-time from Forex Trading.</p>\r\n<p style=\"text-align: center;\">At ALL times you need TRADING DISCIPLINE in place to ensure longevity in trading. This is key and fundamental to success.</p>\r\n<p style=\"text-align: center;\"><strong>PLEASE NOTE:</strong>\r\nYou must ensure that with any trading account  you have a sufficient balance to accommodate the risks involved in trading.\r\nThis is crucial to your trading success and you should not manage an account in which you trade too large a position size as this will only result in margin calls from your broker.\r\nWhich, in my opinion is a 100% recipe for a complete and utter disaster.\r\nYou must trade and operate an account sufficient to cope with the swings that you get with trading from profit to loss, as mentioned earlier\r\ntrading Forex involves RISK and this must be managed.\r\nIf you have questions on this subject please contact me at premiumservice@weeklyfxdrivethru.com\r\nI am here to help.</p>\r\n<strong>2015 COMPLETE:</strong>\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/2015-PS-PERF.png\"><img class=\"aligncenter size-large wp-image-8625\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/2015-PS-PERF-991x1024.png\" alt=\"2015-ps-perf\" width=\"991\" height=\"1024\" /></a>\r\n\r\n&nbsp;\r\n<div>\r\n<p style=\"text-align: left;\"><strong>2014 COMPLETE:</strong></p>\r\n\r\n</div>\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/2014-PS-PREF.png\"><img class=\"aligncenter size-large wp-image-8624\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/2014-PS-PREF-994x1024.png\" alt=\"2014-ps-pref\" width=\"994\" height=\"1024\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n</div>\r\n<strong>7. What about this year\'s performance 2017?</strong>\r\n\r\nData will start to appear here monthly from the end of Q1.\r\n<div>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n<strong>8. What are your benefits and costs of being a subscriber to the PREMIUM SERVICE?</strong>\r\n\r\n</div>\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, FUNDAMENTAL and POSITION trades” and issues emanating from previous blogs.\r\n\r\n<strong>SUBSCRIPTION FEATURES and BENEFITS:</strong><u>\r\n</u>\r\n<ul>\r\n 	<li>3 options on subscription periods.</li>\r\n 	<li>100% access to the PREMIUM SERVICE area of my website <a href=\"http://www.weeklyfxdrivethru.com/\">www.weeklyfxdrivethru.com</a></li>\r\n 	<li>A dedicated exclusive twitter feed @ThePremService.</li>\r\n 	<li>All trade set-ups communicated via Twitter and RADAR, FUNDAMENTAL and POSITION trades additionally via email.</li>\r\n 	<li>The full and complete version of The WEEKLY FX DRIVE THRU delivered weekly via an emailed PDF, and, viewable on line inside the PREMIUM SERVICE secure section of <a href=\"http://www.weeklyfxdrivethru.com/\">www.weeklyfxdrivethru.com</a></li>\r\n 	<li>My thoughts and comments on market conditions via twitter and/or email.</li>\r\n 	<li>WEEKLY FX DRIVE THRU - LIVE - weekly \"Live Webinars\" every at Monday at 5:30PM ETST.  These are market overview related broadcasts looking into the week ahead.</li>\r\n 	<li>Option to request individual / bespoke \"one-on-one coaching\".</li>\r\n 	<li>PLATINUM MEMBERS (Annual subscribers - the highest level of subscription), will receive additional benefits over and above the other subscriber levels, such as optional monthly REVIEW MEETINGS.</li>\r\n 	<li>In addition ALL existing PLATINUM MEMBERS (annual subscribers) receive a 20% discount off their annual renewal subscription when they re-subscribe.</li>\r\n</ul>\r\n<h4>SUBSCRIPTION OPTIONS:</h4>\r\n<div class=\"clearfix\" style=\"margin-bottom: 15px;\">\r\n<div class=\"one-half first\">\r\n<div class=\"subscription\">\r\n<p class=\"length\">PLATINUM MEMBER:\r\nANNUAL (40 WEEK) SUBSCRIPTION: CAD$2,500.00\r\n(this equates to CAD$62.50 per week)</p>\r\n\r\n</div>\r\n</div>\r\n<div class=\"one-half\">\r\n<div class=\"subscription\">\r\n<p class=\"length\">GOLD MEMBER:\r\n6 Months (20 WEEKS) SUBSCRIPTION: CAD$1,500.00\r\n(this equates to CAD$75.00 per week)</p>\r\n\r\n</div>\r\n</div>\r\n</div>\r\n<div class=\"clearfix\" style=\"margin-bottom: 15px;\">\r\n<div class=\"one-half first\">\r\n<div class=\"subscription\">\r\n<p class=\"length\">GOLD MEMBER:\r\n3 Months (10 WEEKS) SUBSCRIPTION: CAD$1,000.00\r\n(this equates to CAD$100.00 per week)</p>\r\n\r\n</div>\r\n</div>\r\n</div>\r\n(All Fees are quoted in CAD$)\r\n\r\n&nbsp;\r\n\r\n<strong>9. If I am interested and I want to subscribe to the PREMIUM SERVICE what do I do next?</strong>\r\n\r\nIf you are happy with all the above and want to move forward to the next stage, here is what you do: -\r\n\r\nSubscribing to the PREMIUM SERVICE takes literally just 5 minutes maximum. On my welcome page go to SUBSCRIBE HERE at the top of the page to sign up. Choose the level of subscription that you want and period that you want to subscribe for.  It\'s very fast, easy and convenient.\r\n\r\nIn addition you should also check the PROMOTION tab at the top of this page as well, as from time to time they can be extremely attractive.\r\n\r\nI hope that you will find the argument to sign up and subscribe to the PREMIUM SERVICE compelling and look forward to welcoming you onboard soon.\r\n\r\nIf you have any questions at all or want additional information about anything to do with the PREMIUM SERVICE please email me at: - premiumservice@weeklyfxdrivethru.com\r\n\r\n&nbsp;\r\n\r\n<strong>10. FX BROKERS and additional FOREX trading support:</strong>\r\n\r\nOn my landing page there are a number of banners from brokers and equipment suppliers. These are my recommended relationships. Clicking on their banners establishes a link between the PREMIUM SERVICE (Me), the broker and you. As an educator one of my key objectives is to help and guide as best I can all traders to improve their consistency and profitability through trading. My preferred brokers from time to time will offer special incentives for new clients and as clients introduced via the PREMIUM SERVICE an additional support level is added.\r\n\r\nIf you are looking to add a Forex broker, please click on the banners and explore the options. Alternatively, please feel free to contact me should you have any questions.\r\n\r\n&nbsp;\r\n<div>\r\n\r\nScott Pickering\r\nThe Pip Accumulator\r\n7th January 2017\r\nhttp://www.weeklyfxdrivethru.com/disclaimer/\r\n\r\n</div>\r\n<div>\r\n\r\n<span style=\"text-decoration: underline;\"><strong>DISCLAIMER:</strong></span>\r\n\r\nFLASH, RADAR, FUNDAMENTAL and POSITION  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.\r\n\r\n</div>','HISTORY & PERFORMANCE of the PREMIUM SERVICE','','inherit','closed','closed','','3012-revision-v1','','','2017-02-12 18:16:04','2017-02-12 23:16:04','',3012,'http://weeklyfxdrivethru.com/3012-revision-v1/',0,'revision','',0),(6868,16,'2015-11-27 13:57:04','2015-11-27 18:57:04','','Part-Time Forex Traders','','publish','closed','closed','','6868','','','2016-12-05 11:39:21','2016-12-05 16:39:21','',0,'https://weeklyfxdrivethru.com/?p=6868',5,'nav_menu_item','',0),(6873,16,'2015-11-27 14:23:50','2015-11-27 19:23:50','<section class=\"members\"><div style=\"text-decoration: underline;\"><a title=\"Flash Trades\" href=\"./flash-trades-2/\">Flash Trades</a><a title=\"Radar Trades\" href=\"./radar-trades/\">Radar Trades</a><a title=\"Fundamental Trades\" href=\"./fundamental-trades/\">Fundamental Trades</a><a title=\"Combined Trades Profit Summary\" href=\"./combined-trades-profit/\">Combined Trades Profit Summary</a><a title=\"Completed Trades Profit/Loss Ratios\" href=\"./completed-trades-profit-loss-ratios/\"> Completed Trades Profit/Loss Ratios</a><a title=\"Completed Trades Risk/Reward Analysis\" href=\"./completed-trades-risk-reward-analysis/\"> Completed Trades Risk/Reward Analysis</a><a href=\"./6869-2/\" title=\"PIP PERFORMANCE YEAR by YEAR COMPARISONS\">PIP PERFORMANCE YEAR by YEAR COMPARISONS</a></div>\r\n</section>','TRADING SUMMARIES','','inherit','closed','closed','','4203-revision-v1','','','2015-11-27 14:23:50','2015-11-27 19:23:50','',4203,'https://weeklyfxdrivethru.com/4203-revision-v1/',0,'revision','',0),(6875,16,'2015-11-27 14:26:16','2015-11-27 19:26:16','','Pip Performance Year by Year Comparisons','','publish','closed','closed','','6875','','','2017-01-09 11:02:06','2017-01-09 16:02:06','',0,'https://weeklyfxdrivethru.com/?p=6875',13,'nav_menu_item','',0),(6876,16,'2015-11-27 14:28:33','2015-11-27 19:28:33','','Break Free be Successful','','inherit','open','closed','','br2','','','2015-11-27 14:29:07','2015-11-27 19:29:07','',0,'https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/br2.jpg',0,'attachment','image/jpeg',0),(6877,1,'2016-12-15 12:07:17','2016-12-15 17:07:17','<h4 style=\"text-align: center;\"><strong> </strong></h4>\n<h4 style=\"text-align: center;\"><strong>ARE YOU ALREADY, OR, ARE YOU THINKING ABOUT BEING A PART-TIME FOREX TRADER?\n</strong><strong>ARE YOU STRUGGLING TO ACHIEVE YOUR FINANCIAL GOALS?</strong></h4>\n&nbsp;\n\n<strong><span style=\"text-decoration: underline;\">UPDATE ADDED 15th December 2016:</span></strong>\n\nAs I do not trade in times of lower liquidity, in fact I trade for about 40 weeks a year in total, the PREMIUM SERVICE trading for 2016 is now completed and my trading fingers are now rested until I start again next year in 2017.\n\nThroughout this year (2016), I have been adding performance updates to the initial trading projection that I posted in early January 2016 top show the progress versus the projection\n\nWith 2016 trading now complete I can now announce that the PREMIUM SERVICE beat the projection set out at the beginning of 2016 by 332 pips.\n\nI have placed the final excel spreadsheet below and beneath it I have made a few comments.\n\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/12/POS-TRADES-ACTUAL-V-PROJ-2016.png\"><img class=\"aligncenter size-large wp-image-8818\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/12/POS-TRADES-ACTUAL-V-PROJ-2016-997x1024.png\" alt=\"\" width=\"997\" height=\"1024\" /></a>\n\n&nbsp;\n\nThe first thing to note is that traders who started in January 2016 with this program who traded just single lot  MINI  or STANDARD lot POSITION TRADES  suggested by my program wopuld have more than doubled the size of their broker after all costs were accounted for, had they followed every trade and the program 100%.\n\nBasically, MINI LOT traders who started off with a broker account with USD$7,500.00 after trading the 181 completed trades would show a healthy profit after the costs to trade and the annual subscrption fees were deducted. The excel sheet shows a net broker account balance of USD$15,294.00 from a start of USD$7,500.00.\n\nThis final performance number needs a little clarification: -\n<ol>\n 	<li>The PREMIUM SERVICE subscription is not paid from your broker account it is paid on day one separately. It is shown in the excel spread sheet for illustrative purposes only.</li>\n 	<li>There are a multiple of  LIVE POSITION trades in the PREMIUM SERVICE being carried forward into 2017. These are basically CORE POSITION trades ready for 2017. The net current position of these trades is a loss of c. USD$2,400.00.\n\nTherefore the revised net position on the broker account for a single MINI LOT trader is USD$ 12,894.00 and not USD$15,294.00 (this reflects completed trades only). This still reflects to date a healthy USD$5,394.00 of free and clear profit so far from the start of the program.</li>\n 	<li>Obviously in 2017 there will be another subscription required but this would be paid for from PROFITS.</li>\n 	<li>The 2017 performance would be a net net gain moving forward.</li>\n 	<li>Should you be a MICRO LOT trader; you really need to be trading at least 5 x MICRO LOTS per trade to show a reasonable return. At 5 x MICRO LOTS per trade the numbers start to stand up better but this in my opinion would involve an initial trading account of at least USD$3,500.00 plus your subscription to get going.</li>\n</ol>\nThe main point here to get across is that you can make money from Forex Trading. The POSITION TRADES referred to here were intended for traders who cannot for whatever reason be active at all times of the day. If this interests you either subscribe to the PREMIUM SERVICE right away from the SUBSCRIBE HERE section of the tab on my landing page, or, if you require more information contact me. There are no secrets all the the trading information is available.\n\nI have left the previous updates, right back to the original posting below.\n\nScott Pickering\nThe Pip Accumulator\n15th December 2016.\n\nhttp://www.weeklyfxdrivethru\n\n&nbsp;\n\n<span style=\"text-decoration: underline;\"><strong>THIS UPDATE WAS ADDED 31st OCTOBER 2016:</strong></span>\n\nAt the beginning of 2016 I launched PART-TIME TRADER TRADES and renamed them during 2016 to become POSITION TRADES.\n\nI set aggressive targets of more than doubling the size of your broker accounts in a structured way this year.  Below you will see my original post with my income projection table in BLACK. At the end of Q1 I reviewed the performance and added my to date table in BLUE. At the end of Q2 I posted again and updated the real time table this time in GREEN.\n\nNow we are at the end of October and I have updated the year performance once again, this time it\'s PURPLE.\n\nMany of my competitors who offer a PREMIUM SUBSCRIPTION service that like myself provides  a level of market commentary, promise the earth with their mentoring styles. I have NOT found any competitors who publish an annual pip objective or review performance against objectives that were set out.\n\nAs I keep telling my subscribers, what you see is what you get.\n\nMy POSITION TRADE profit objective was aggressive. To be this close given all the geopolitical events in 2016, frankly, I am absolutely delighted.\n\nPlease see that chart below to see the current position as at 31st October 2016, based upon the target set out on January 1st 2016. Beyond this current chart I have left all of my prior posts and updates from the original one in place for you to see the progress through the year.\n\n&nbsp;\n\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/10/POSITION-TRADES-Q3-2016-PERF-.png\"><img class=\"aligncenter size-large wp-image-8580\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/10/POSITION-TRADES-Q3-2016-PERF--1024x794.png\" alt=\"position-trades-q3-2016-perf\" width=\"1024\" height=\"794\" /></a>\n\n&nbsp;\n\nScott Pickering\nThe Pip Accumulator\n31st October 2016\n\n&nbsp;\n\n<strong><span style=\"text-decoration: underline;\">THE FOLLOWING POST WAS ADDED ON JULY 11th 2016:</span></strong>\n\nI updated my 2016 spreadsheet and performance with regards to POSITION (PART-TIME TRADER TRADES) at the end of Q1.  At that time, I left on this page the original post to this drop down menu so that it was clear to see the existing performance versus the initial projection.\n\nIt now the end of Q2 and have decided to do the same again. At the end of this update dated 11th July 2016 reflecting upon Q2 2016 performance, you will find my March 31st post reflecting on the Q1 performance and then my original post when I decided to launch PART TIME TRADER TRADES now called POSITION TRADES in December 2015.\n\nMy initial comments on the performance to date are as follows (see the excel spreadsheet below):\n<ol>\n 	<li>Never be upset at making money when trading.</li>\n 	<li>I knew that I was having to continually adjust to market conditions. I had blogged continually this year about uncertainty and lots of chop in the markets making normal trading very difficult at times. This \"Chop\" has manifested itself in the way that my POSITION TRADES have played out.</li>\n 	<li>I have completed 88 trades already from a projected 90 trades for the whole year.</li>\n 	<li>Profit loss ratios on completed trades are at 86%-14% well ahead of my projected 75%-25% projection.</li>\n 	<li> 5,106 pips have been achieved against the annual target of 8,438, which equates to 60% of my annual goal after 50% of year is complete. To achieve my ambitious 2016 objective will be a tall order but I am up for the challenge.<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/07/POS-TRADES-Q2-actual-v-proj-11072016.png\"><img class=\"aligncenter size-full wp-image-8138\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/07/POS-TRADES-Q2-actual-v-proj-11072016.png\" alt=\"POS TRADES Q2 actual-v-proj 11072016\" width=\"606\" height=\"437\" /></a></li>\n</ol>\nAs I have said all along with my trading it is vital to trade what you are presented with. Longer-term trading whilst the \"day to day noise\" can be excluded from the process of placing a trade it still has its own difficulties that have been clear to see as more and more uncertainties have entered the marketplace.\n\nWe now enter Q3 the silly season when liquidity is much lower and the Asian market sessions become more and more of a nonsense as the liquidity really dries up even more into an illiquid session at the best of times. There is still huge uncertainty hanging over the markets in particular surrounding the BREXIT fallout but also the US Presidential Election is approaching really fast. Trading patterns/ levels will be harder in this environment.\n\nIn three months, I will post a Q3 follow up.\n\nScott Pickering\nThe Pip Accumulator\nJuly 11th 2016\nwww.weeklyfxdrivethru.com/disclaimer/\n\n&nbsp;\n\n<span style=\"text-decoration: underline;\"><strong>BELOW IS THE Q1 REVIEW THAT WAS PUBLISHED ON MARCH 31st 2016:</strong></span>\n\nWe are almost three months into 2016 trading and I thought that it would be a great idea to review the performance of my new trading category, that was launched in January this year; PART-TIME TRADER TRADES.\n\nBefore getting into the “nitty gritty” of projected numbers versus actual performance, I thought I should offer an overview to date.\n\nThis year trading has not been as clear-cut as I had hoped for. The divergent trade, which frankly launched this idea of the new trade set-up category, has not been as visible as I had hoped. In fact, there have been clear examples of central bank policy direction being ignored (BOJ and ECB). Coupled with some major geopolitical uncertainties, I have not had the confidence to let trades run as I had originally intended and I have cut trades short, mostly at the time they were profitable to bank $$$.\n\nMoving forward, I do see the divergent trade re-appearing because frankly, nothing has fundamentally changed. The FED is still progressing with monetary policy, that is, raising rates when the two other large central banks the ECB and BOJ are still easing with monetary policy through a long term quantitative easing program. From this perspective nothing has changed.\n\nHowever, one thing that I do want to change is the name given to these suggested trade set-ups moving forward. From April 4<sup>th</sup> 2016 they were renamed as POSITION TRADES and no longer PART-TIME TRADER TRADES. They will now carry the prefix POS as suggested set-ups are posted to subscribers of the PREMIUM SERVICE.\n\nBelow is the PROJECTED PERFORMANCE versus the ACTUAL for Q1 2016. I have added a short commentary / summary on the chart and in the few short comments at the foot of the excel sheet.\n\nI am really pleased with this category of trade set-up. It has been by far my most successful trading style this year so far. This does make some sense in the fact that for most of this year I have been talking in my blogs and writing <strong>on </strong>Twitter about how choppy the markets have been and because of geopolitical uncertainties it has on many occasions been quite difficult to trade.\n\nThe actual performance for Q1 is in BLUE and the original projection is in BLACK. I have made no amendments to the original data.\n\nRoll on Q2 if it is half as good as Q1 there will be both pips and $$$$!!\n\n&nbsp;\n\n&nbsp;\n\n<a href=\"https://weeklyfxdrivethru.com/position-trades-q1v2016-31032016/\" rel=\"attachment wp-att-7519\"><img class=\"aligncenter size-full wp-image-7519\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2016/03/POSITION-TRADES-Q1v2016-31032016.png\" alt=\"POSITION TRADES Q1v2016 31032016\" width=\"596\" height=\"456\" /></a>\n\n&nbsp;\n\nScott Pickering\nThe Pip Accumulator\nMarch 31st 2016\nwww.weeklyfxdrivethru.com/disclaimer/\n\n&nbsp;\n<p style=\"text-align: center;\"><span style=\"text-decoration: underline;\"><strong>BELOW IS THE ORIGINAL ARTICLE THAT WAS ON THIS PAGE TO CO-INCIDE WITH THE LAUNCH OF PART TIME TRADER TRADES IN JANUARY 2016:</strong></span></p>\nOne category of trader that is missed, ignored and frankly not really catered for by the FX market is the “the part-time” trader. Although many Forex educators have tried to formulate a strategy to work for traders who have limited access to their computers, they have had very limited success. Without doubt the development of trading on cell phones and tablets has helped, however trading part-time throws up limitations full-time traders just cannot grasp.\n\nHaving traded Forex myself now for over 8 years, I can understand the frustrations of the part-time trader and the feeling of isolation this brings. I started trading part-time, however my circumstances allowed me to move to full-time trading. Not everyone has this luxury. However, I get it, I understand the frustrations of a part-time trader when trades are closed when you are unable to access your computer. In the real world we have to accept that at times the markets will dictate trading, this cannot be avoided, however if there was a way this could be reduced, the involvement of part-time traders in the Forex market would rise again.\n\nWhen the PREMIUM SERVICE started in 2014, I tried to accommodate part-time traders needs to my best ability. I never really had the unique sales position that I strove to achieve and like many others I failed in my goals that I set myself in accommodating part-timers. The PREMIUM SERVICE profitability was on target, in fact it exceeded my expectations, but my objective of creating and supporting a niche for part-time traders just did not happen.\n\nIf you visit my website <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a> under the TAB on my landing page titled PREMIUM SERVICE all the 2015 and 2014 performances are compared and reviewed.\n\nI have shown that no matter what the size of budget you have, you can make money from Forex trading. This was my initial goal niche area, whether your account has a balance of $1,000.00, a $ 100,000,00, or somewhere in between the Forex market has opportunities for you to make money.\n\nSince offering a fee-based subscription option, the PREMIUM SERVICE, I have categorized my trade set ups into three different types of trades.\n\nFLASH TRADES – at market\nRADAR TRADES – limit orders\nFUNDAMENTAL TRADES – limit orders with longer-term horizons\n\nIn my opinion, you have to be an active trader to trade both RADAR and FLASH trades. It was part of my goal that the FUNDAMENTAL trades would be attractive to all traders but especially part-time traders.\n\nIt is with the FUNDAMENTAL trades that I have been reviewing my thoughts, ideas and objectives towards the end of 2015.\n\n<u>BACKGROUND TO THE DIVERGENT FUNDAMENTAL TRADES PLAN:</u>\n\nFollowing moves in the major central bank monetary policies (FED, ECB, BOJ, BOE, SNB, RBA, BOC and RBNZ); we now have policy divergence across the globe. In my opinion, this is a tradable feature and because it should be directional it has a hugely potential tradable benefit.\n\nI decided late October 2015, that from November 1<sup>st</sup> 2015 all future FUNDAMENTAL TRADES would be based around central bank divergence trades. This change was initially communicated to my existing PREMIUM SERVICE subscribers, who reside in all corners of the globe, trade with different sizes of accounts, some are active traders, some part-time, some just seasonal, many are technical traders and many are traders based off fundamental news. It is the full spectrum.\n\nI have received tremendous feedback, in particular from my part-time traders, who were missing some suggested trade set-ups as they could not access their computer devices enough times in the day to check for set-ups.\n\nFrom my perspective, it is much easier to plan and schedule DIVERGENT FUNDAMENTAL TRADES. Being, realistic, there are bound to be occasions when an entry or an exit price could be missed, nothing can be 100% in this market place but my part-time traders are delighted, and therefore so am I.\n\nArmed with this information, it gave me greater comfort when moving forward with this trading strategy.\n\nAs mentioned, the trade set-ups suggested are intended to have a longer-term trading perspective. They are not specifically aimed at traders who consider themselves to be part-time Forex traders, all traders can of course take advantage, and I see it as an additional income stream opportunity for all. Who doesn’t want extra $$$.\n\nMy definition of part-time is those of you who are only able to look at your computer screens, or, mobile devices to check trades two-three times a day.\n\nA key feature of these set-ups is that they have much wider than normal stops to allow for market swings and volatility. The compensation for this is that trades are smaller in size to allow for swings in volatility, but multiple trades in the same currency pair are added when the core trade has traction in the desired direction.\n\nI am suggesting that in order to protect RISK, your initial trade sizes are no more than 10% of your overall individual trade risk parameters that you have set in your TRADING PLAN. As the initial trades gather traction, additional trade set ups are suggested, these are managed on an individual basis based upon your account size and risk management parameters.\n\nMy goal is to have multiple trades open/live at any one time and maybe 2/3 open/live trades with the same currency pair. I will of course suggest to take some profits along the way, but hopefully at the same time letting trades run as far as possible.\n\nWe are entering a period of two years or so at least, with divergent central bank monetary policies. As a Forex trader this gives me increased confidence when placing trades knowing that central bank policy is supportive of my trade direction. Whilst there is still risk attached to the trade, risks are minimized, and the longer-term nature of the trades allow for swings and volatility. If I can achieve my goal of 75% -25% profitable to losing trades over an extended trading period, I will be happy.\n\n<u>LOOKING AHEAD INTO 2016 and BEYOND:</u>\n\nBased on my historical performance data and using average take profits, stop loss levels and anticipated trade volumes for next year, the information below gives you an idea of the goals and objectives that I have set myself to achieve in 2016.\n\nMy cash flow projection for DIVERGENT FUNDAMENTAL TRADES for 2016 is below.\n\nThis is a projection based off previous performances over a two-year period so it has credibility. I have calculated this allowing for whether you are a micro, mini or standard lot trader.\n\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/Cashflow-projection.jpg\"><img class=\"aligncenter size-large wp-image-6866\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/Cashflow-projection-770x1024.jpg\" alt=\"Cashflow-projection\" width=\"770\" height=\"1024\" /></a>\n\nBased on the examples set out in the spreadsheet. After all costs associated directly with trading are accounted for: -\n\nMicro lot traders have a potential net income of $789.75\nMini lot traders have a potential net income of $15,052.50\nStandard lot traders have a potential net income of $157,680.00\n\nObviously, should you trade 2 or 3 lot sized trades your RISK to trade (cost) are increased above the examples shown but additionally your net profit returns are potentially greater.\n\nRISK MANAGEMENT, POSITION SIZING and OVER LEVERAGING are crucial management tools you must understand before trading, having said that there are great income opportunities.\n\n&nbsp;\n\n<u>MOVING FORWARD IF YOU ARE INTERESTED:</u>\n\nIf what you have read sounds appealing and logical and you want to be a part of this trade idea. What do you need to do next?\n\nEXISTING TRADERS:\n<ol>\n 	<li>If you are already trading the Forex market. You need to subscribe to the PREMIUM SERVICE. Go to my website <a href=\"http://www.weeklyfxdrivethru.com\">weeklyfxdrivethru.com</a> On the landing page click on the SIGN UP tab. There you will find all the period options for being a subscriber. You need to have a PayPal account in order to register.</li>\n 	<li>If you are an existing Forex Trader and you want to keep these trades separate from your existing trades, why not open an additional account with one of my brokers listed on my landing page by clicking on one of their banners. From time to time there are special new client marketing bonus available. If unsure contact me for details.</li>\n</ol>\nNEW TO FOREX:\n<ol start=\"3\">\n 	<li>Brand new to Forex Trading. You will need both a broker account and a subscription to the PREMIUM SERVICE. Go to my website <a href=\"http://www.weeklyfxdrivethru.com\">weeklyfxdrivethru.com</a> On the landing page click on the SUBSCRIBE tab. There you will find all the options for being a subscriber. You need to have a PayPal account in order to register.</li>\n 	<li>You will require a broker account from which to trade from. I have 5 brokers listed with banners on my website. I deal with all five and have great account relationships with them all. They all offer great service and being part of my team with them helps should you have any technical or account issues moving forward. From time to time these brokers offer special offers to new clients. To open an account all you need to do is click on the banner and it is a short process to open an account. All you require is address confirmation and photo ID confirmation. Once these are accepted an account number is allocated to you, then you need to simply deposit funds into your account. You are then ready to trade. Personally, I would open a demo account as well to get you familiar with the trading platform. There are plenty of on-line tutorials with each broker to help and, in addition, I can offer assistance.</li>\n</ol>\nShould you still want additional information, this is not a problem; all trades for 2014 and 2015 are measured and recorded. These are available to you if you want them, plus any other information you would like to know about. If you want to know more, do not hesitate to contact me at the email address at the foot of this email.\n\nI am really excited about the opportunities that lie ahead with these trade set-ups.\n\nAs the realization that DIVERGENCE will be a reality in the operations of the world’s central bank monetary policy, trading the divergence has become stronger and as a result and profitability from these trades has increased since September 2015. This has happened, yet the crucial FED meeting, has not yet taken place. It is scheduled for December 16<sup>th</sup> 2015. After this meeting as the markets settle after the initial news, the DIVERGENCE will become stronger as we move through next year.\n\nIf you want to be part of this program, you need to get ready for 2016 now.\n\nGood Luck,\n\nScott Pickering\nThe Pip Accumulator\nwww.weeklyfxdrivethru.com/disclaimer/','Part-Time Forex (Position) Traders','','inherit','closed','closed','','6858-autosave-v1','','','2016-12-15 12:07:17','2016-12-15 17:07:17','',6858,'https://weeklyfxdrivethru.com/6858-autosave-v1/',0,'revision','',0),(9066,1,'2017-02-04 08:39:12','2017-02-04 13:39:12','','ECON DATA 05022017','','inherit','open','closed','','econ-data-05022017','','','2017-02-05 07:34:13','2017-02-05 12:34:13','',9075,'http://weeklyfxdrivethru.com/wp-content/uploads/2017/02/ECON-DATA-05022017.png',0,'attachment','image/png',0),(9067,1,'2017-02-04 08:39:26','2017-02-04 13:39:26','','T CHART 05022017','','inherit','open','closed','','t-chart-05022017','','','2017-02-05 07:35:04','2017-02-05 12:35:04','',9075,'http://weeklyfxdrivethru.com/wp-content/uploads/2017/02/T-CHART-05022017.png',0,'attachment','image/png',0),(9068,1,'2017-02-04 08:40:31','2017-02-04 13:40:31','','AUDUSD D 05022017','','inherit','open','closed','','audusd-d-05022017','','','2017-02-05 07:35:48','2017-02-05 12:35:48','',9075,'http://weeklyfxdrivethru.com/wp-content/uploads/2017/02/AUDUSD-D-05022017.png',0,'attachment','image/png',0),(9069,1,'2017-02-04 08:40:42','2017-02-04 13:40:42','','EURUSD D 05022017','','inherit','open','closed','','eurusd-d-05022017','','','2017-02-05 07:35:26','2017-02-05 12:35:26','',9075,'http://weeklyfxdrivethru.com/wp-content/uploads/2017/02/EURUSD-D-05022017.png',0,'attachment','image/png',0),(9070,1,'2017-02-04 08:40:53','2017-02-04 13:40:53','','GBPUSD D 05022017','','inherit','open','closed','','gbpusd-d-05022017','','','2017-02-05 07:35:37','2017-02-05 12:35:37','',9075,'http://weeklyfxdrivethru.com/wp-content/uploads/2017/02/GBPUSD-D-05022017.png',0,'attachment','image/png',0),(9071,1,'2017-02-04 08:41:05','2017-02-04 13:41:05','','NZDUSD D 05022017','','inherit','open','closed','','nzdusd-d-05022017','','','2017-02-05 07:36:07','2017-02-05 12:36:07','',9075,'http://weeklyfxdrivethru.com/wp-content/uploads/2017/02/NZDUSD-D-05022017.png',0,'attachment','image/png',0),(9072,1,'2017-02-04 08:41:17','2017-02-04 13:41:17','','USDCAD D 05022017','','inherit','open','closed','','usdcad-d-05022017','','','2017-02-05 07:36:20','2017-02-05 12:36:20','',9075,'http://weeklyfxdrivethru.com/wp-content/uploads/2017/02/USDCAD-D-05022017.png',0,'attachment','image/png',0),(9073,1,'2017-02-04 08:41:29','2017-02-04 13:41:29','','USDCHF D 05022017','','inherit','open','closed','','usdchf-d-05022017','','','2017-02-05 07:36:31','2017-02-05 12:36:31','',9075,'http://weeklyfxdrivethru.com/wp-content/uploads/2017/02/USDCHF-D-05022017.png',0,'attachment','image/png',0),(9074,1,'2017-02-04 08:41:41','2017-02-04 13:41:41','','USDJPY D 05022017','','inherit','open','closed','','usdjpy-d-05022017','','','2017-02-05 07:36:44','2017-02-05 12:36:44','',9075,'http://weeklyfxdrivethru.com/wp-content/uploads/2017/02/USDJPY-D-05022017.png',0,'attachment','image/png',0),(9075,1,'2017-02-05 07:40:57','2017-02-05 12:40:57','&nbsp;\r\n<ol>\r\n 	<li><strong>INTRODUCTION:</strong></li>\r\n</ol>\r\nTo say that what we witnessed over the past 7 days was a typical week in the life of a Forex trader would be rather misleading in my view. It was a challenge. A challenge from many aspects, and dare I say it, moving forward, probably a typical example of what we are going to have to deal with.\r\n\r\nAs a longer-term position trader at heart, I have struggled with this approach off and on since the financial crash of 2008-9. At the moment, I am adapting to the TRUMP approach. That statement covers a multitude of factors. Like many traders I was wrongly positioned with trades at the outset of 2017, and I have been working my exits. I believe it will take me a couple of months to re-position myself for moving forward and I have my plan formulated.\r\n\r\nWith trading, I always have a trading plan. People may not agree with it, but as long as I have my plan, I have something to trade with and I have my goals. Forex trading is long haul for me. If I have to sit back for a week or so… so be it. Forcing trades is NOT the answer.\r\n\r\nWe are trading in very difficult times; I know of three traders who ended trading Forex last week. It is hard, challenging and just to keep your head above water is a good result in my opinion at the moment. If like me, you are losing money, you are not alone. At least I will tell you how it is. I want to remain truthful to you on how I am doing. I have been here before and I got through it, and by the end of this year I will be back in black again pushing the 10,000 pips profit goal. But bear in mind many traders are being squeezed out and accounts are being nullified.\r\n\r\nThe larger institutions were trying to exit upside down positioning last month and this added to the volatile quite strange moves at times. As retail traders, we operate on their coat tails. If the market moves are directionally difficult to understand and we try to follow blindly, this is no better than gambling in my opinion. For this reason, I can understand many retail traders getting caught up in moves and many would have had the rug pulled from beneath them in the volatility.\r\n\r\nYou hear traders sometimes say they love volatility. This is basically on most occasions nothing more than pure bravado. I have a massive issue at times about supporting such statements. I trade to make money. I could not give a sh*t about volatility, I want direction. Volatility to me means winners and losers… that is gambler talk. There is a place for gamblers it’s called Las Vegas, off you go. Very simply “Direction = Money and Money = Profits”.\r\n\r\nLast month, I recorded a loss of 793 pips. There may be slight losses again in February as I work out of older trades with my trade plan. But these losses should be slight as new trade profits will cover the old trade losses… at least that is my plan!!\r\n\r\nBefore TRUMP and after TRUMP thankfully, I have been trading nothing more than between 10% and at the most only 50% usual position sizes, This has helped, financial losses have been small and manageable but pip losses higher than usual as I work through my positions to exit.\r\n\r\nI am therefore in transit mode for Q1 2017. I will write about this next week.\r\n\r\nPREMIUM SERVICE subscribers know already that for the latter part of last week I was enduring computer work on my main machine, and it has been offline for the past 60 hours or so. What was deemed to be a software issue due to a bad upgrade which was mainly affecting “Office for Mac” and “MacMail” turning out to be an exacerbated issue as my fusion trade connection was malfunctioning. “Bloody Technology”, as someone commented to me last week… yes indeed. Since buying the most expensive machine possible from Apple, since the sierra ios upgrade, I have had 4 months of hell. It is now fixed? Not sure, I still have to complete the re-build. You forget that you have so much on your machines. Adding back stuff will be on-going for a while.\r\n\r\nThe bottom line was that yesterday; I did not think that I would have any sort of blog delivered. This week’s DRIVE THRU is short but I am happy to have gotten something out within the time constraints available.\r\n\r\nMoving on…\r\n\r\nI am going to use the week in the USA “TRUMPANTICS” as my “SOAPBOX” piece this week, as I did not have time to research and prepare an article. This would have normally been included here in this section.\r\n\r\nUSA aside…\r\n\r\nThe BOJ held policy and defended TRUMP finger pointing as currency manipulators.\r\n\r\nThe BREXIT was the other main issue last week. The BOE, and JCB driver extraordinaire BOE Governor Mark Carney issued his Inflation Report and Policy statement.\r\n\r\nVery soon, Carney is going to appear wearing his kickers over his suit pants and a cape over his jacket. Jesus, Mary and Joseph… watching Carney at times it’s a case of “I love me who do you love?” Bring on the dry ice and play “Jesus Take The Wheel” on his entry to these meetings, they are times dramatic and delivered almost in a style as if he was on a Broadway or West End stage. What’s next pure theatrics.\r\n\r\nThe bottom line was that Theresa May with all the huff ‘n puff over a hard BREXIT (I still do not get this soft or hard BREXIT crap) was firmly put in its place by a dramatic reality check by Carney. The cable pulled back from the brink of a test of 1.2775 to now sitting just below 1.2500 at the close of the week.\r\n\r\nMoving on… “LIVE Broadcasts – THE WEEKLY FX DRIVE THRU – LIVE”.\r\n\r\nIf I were critiquing my performance, I would say broadcast #2 was better than #1. Much less technical. #3 should see further improvements\r\n\r\n#3 is on Monday 30<sup>th</sup> at 5:30PM will be a little easier.\r\n<ul>\r\n 	<li>You need Google Chrome as a browser to attend.</li>\r\n 	<li>You cannot view on smart phones or tablets, only Laptops and Desktops.</li>\r\n</ul>\r\nThe link is below: -\r\n\r\nhttp://bit.ly/drivethru-live\r\n\r\nFinally, in this section…\r\n\r\nIf you would like to be in the monthly draw to win a “FREE 10-WEEK SUBSCRIPTION” to the PREMIUM SERVICE, valued at CAD$1,000.00, all you have to do is subscribe to receive this FREE NEWSLETTER on my website <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a>  On my welcome page just below my cube logo is where you complete your subscription.\r\n\r\n<strong> </strong><strong> </strong>\r\n<ol start=\"2\">\r\n 	<li><strong> THE FX MARKET PLACE – LOOKING FORWARD:</strong></li>\r\n</ol>\r\n<strong><u>NOTE:</u></strong> This year, 2017, I am not going to look backwards in this section only forwards. News items / points of interest from the prior week will be covered in the introduction.\r\n\r\n<u>ECONOMIC DATA RELEASES:</u>\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/02/ECON-DATA-05022017.png\"><img class=\"aligncenter size-large wp-image-9066\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/02/ECON-DATA-05022017-1024x953.png\" alt=\"\" width=\"1024\" height=\"953\" /></a>\r\n\r\n&nbsp;\r\n\r\n<u>MY THOUGHTS ON THE WEEK AHEAD:</u>\r\n\r\nIt’s all Commodity currency related this week for me.\r\n\r\nSeveral items catch my eye this week: -\r\n<ol>\r\n 	<li>AUD - RBA: We have an interest rate decision; a rate statement a Monetary Policy statement and Governor Lowe also has a session in front of the gathering press.\r\nTherefore; it\'s a busy week “down-under” so to speak.\r\nI am not expecting any change in policy other than confirmation of a neutral position looking to keep rates unchanged this year.</li>\r\n 	<li>NZD - RBNZ: That charming man Graeme Wheeler will be in the drinks cabinet again pulling out a few bottles of Cloudy Bay for the gathering press ensemble to hear him drone on about how 80% of exchange rate control is out of his hands. I am not expecting any major changes at all.\r\nWe also have the dairy auction prices to look at as well prior to Wheeler’s soiree. But the bigger news should be the RBNZ for obvious reasons.</li>\r\n</ol>\r\n<ol start=\"3\">\r\n 	<li>CAD: We have Trade balance and Jobs data this week. These two pieces of data are key for me. TRUMP is dominating the CAD at the moment with pipeline executive orders and trade agreement bullying.\r\nYer man from the BOC, Governor Stephen Poloz will be an anxious on looker this week to see does his recent comment about interest rate cuts need to be moved up a notch or two.\r\nIf it weren’t for TRUMP and OIL, the CAD would be a great trade longer-term!\r\nAll in all, it will be a heavy week, with little sleep. However, even with all this data and information about to be directed our way, I am still not certain that we will have the clues we need moving forward into the medium term.</li>\r\n</ol>\r\nNothing major on the docket vis-a-vis the US this week. However, I am certain THE DONALD will fill the void. In addition, do NOT rule out BREXIT and the EUROZONE.  These three geopolitical heavyweights can turn markets on a dime.\r\n\r\nUncertainty and, to a large extent, confusion rules!\r\n\r\n<u>\r\nUSD MAJORS – “IMMEDIATE” SUPPORT &amp; RESISTANCE with TREND:</u>\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/02/T-CHART-05022017.png\"><img class=\"aligncenter size-large wp-image-9067\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/02/T-CHART-05022017-1024x793.png\" alt=\"\" width=\"1024\" height=\"793\" /></a>\r\n\r\nMy trade charts for the USD majors are below. My thoughts, views and commentary is written on the charts.\r\n\r\nYou will find my charts, hopefully easy to follow. I only use Fibonacci levels, trend lines, confluence points and sometimes chart patterns to identify my high probability trades. If you have any difficulty understanding the points that I am trying to make, please do not hesitate to contact me.\r\n\r\nEUR/USD:\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/02/EURUSD-D-05022017.png\"><img class=\"aligncenter size-large wp-image-9069\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/02/EURUSD-D-05022017-1024x526.png\" alt=\"\" width=\"1024\" height=\"526\" /></a>\r\n\r\n&nbsp;\r\n\r\nGBP/USD:\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/02/GBPUSD-D-05022017.png\"><img class=\"aligncenter size-large wp-image-9070\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/02/GBPUSD-D-05022017-1024x526.png\" alt=\"\" width=\"1024\" height=\"526\" /></a>\r\n\r\n&nbsp;\r\n\r\nAUD/USD:\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/02/AUDUSD-D-05022017.png\"><img class=\"aligncenter size-large wp-image-9068\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/02/AUDUSD-D-05022017-1024x526.png\" alt=\"\" width=\"1024\" height=\"526\" /></a>\r\n\r\n&nbsp;\r\n\r\nNZD/USD:\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/02/NZDUSD-D-05022017.png\"><img class=\"aligncenter size-large wp-image-9071\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/02/NZDUSD-D-05022017-1024x526.png\" alt=\"\" width=\"1024\" height=\"526\" /></a>\r\n\r\n&nbsp;\r\n\r\nUSD/CAD:\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/02/USDCAD-D-05022017.png\"><img class=\"aligncenter size-large wp-image-9072\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/02/USDCAD-D-05022017-1024x526.png\" alt=\"\" width=\"1024\" height=\"526\" /></a>\r\n\r\n&nbsp;\r\n\r\nUSD/CHF:\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/02/USDCHF-D-05022017.png\"><img class=\"aligncenter size-large wp-image-9073\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/02/USDCHF-D-05022017-1024x526.png\" alt=\"\" width=\"1024\" height=\"526\" /></a>\r\n\r\n&nbsp;\r\n\r\nUSD/JPY:\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/02/USDJPY-D-05022017.png\"><img class=\"aligncenter size-large wp-image-9074\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/02/USDJPY-D-05022017-1024x526.png\" alt=\"\" width=\"1024\" height=\"526\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n<ol start=\"3\">\r\n 	<li><strong> THE PREMIUM SERVICE:</strong></li>\r\n</ol>\r\n<u>WHAT IS THE PREMIUM SERVICE ?:</u>\r\n\r\nThe PREMIUM SERVICE is a subscriber, fee based trade set-up option for Forex traders regardless of experience or background. I provide traders suggested trades, and some market commentary related to open trades or factors within the overall market that have my interest.\r\n\r\nFull details of the PREMIUM SERVICE and costs to subscribe plus the various trade styles and how suggested trade set-ups are communicated can be found on my website landing page at <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a> by selecting THE PREMIUM SERVICE tab.\r\n\r\nAdditional information can be found by clicking TESTIMONIALS, PART-TIME TRADERS and FX PROMOTIONS tabs. To subscribe to THE PREMIUM SERVICE, you will require a valid credit card.\r\n\r\nIf you would like to watch/listen to a 40-minute PREMIUM SERVICE webinar to learn more about what I can do to help you with your trading. Then click the link below and register. It is FREE… it costs nothing to listen.\r\n\r\n<a href=\"http://www.onlinemeetingnow.com/register/?id=wrklqabmy3\">http://www.onlinemeetingnow.com/register/?id=wrklqabmy3</a>\r\n\r\n&nbsp;\r\n<ol start=\"4\">\r\n 	<li><strong> PREMIUM SERVICE – SUBSCRIBER CONTENT AREA:</strong></li>\r\n</ol>\r\n<u>TRADING REVIEW:</u>\r\n\r\nI am in transition. I do see a change in sentiment coming and I am disturbed by TRUMPS ability to f**k everything up that he touches. He makes statements then walks them back in denial.\r\n\r\nPlease bear with me through this transition.\r\n\r\nI was very guilty of listening to third parties over my longer-term EUR and GBP trades. My stops were never threatened in the cable yet I pulled off trades to reduce RISK. Not an incorrect approach but I am seriously annoyed with myself as the cable is now moving lower after the markets have suddenly got a grip on themselves once again.\r\n\r\nIt will take me just a few more days to have my plan taking shape with trades. TRUMP concerns me. I want to see the fallout from the TRAVEL BAN restraining order. Frankly the sooner he gets around to expansionist policies on infrastructure and tax reform the better.\r\n\r\n<u>MOVING FORWARD:</u>\r\n\r\nTrading will remain light in view of the market conditions. However, apart from the GBP/USD, if you look at the USD major charts in the blog we are on USD weakness watch.\r\n\r\nThe DXY support levels have been holding very well so far.\r\n\r\nIf TRUMP goes after the FED next, we will see blood on the trading floor. That is of major concern at the moment and I DO NOT want to be caught in the middle of that.\r\n\r\nFrom a trading perspective expect to see cross rate trades appearing over the coming days.\r\n\r\n<u>CORE TRADES:</u>\r\n<ol>\r\n 	<li>AUD/NZD: – Much happier now with the AUD/USD finally moving upwards. I will still look to exit with 100 pip profit chunks if possible. As I wrote last week the 200SMA around 1.0540 held the upwards move back. Maybe the RBA this week will give us the 10.750 – 1.0800 objective at last being in target range.</li>\r\n 	<li>EUR/NZD: - I am holding these trades. This currency pair is a straight on RISK ON – RISK OFF trade and I think that as it is such a small position and risk, it is worth just sitting in at the moment. This pair can move 400 pips a day no problem when it gets its mojo on.</li>\r\n 	<li>EUR/USD and USD/CHF: - Core positions now being established and I am looking to add more trades as the month progresses.\r\nThe bigger picture is that despite encouraging inflation data aside, the EUROZONE is facing major / serious issues ahead.</li>\r\n 	<li>GBP/USD: - I am going to add shorts again. I still have one left in a loss position of about 200 pips. This is frustrating to trade but uncertainty and TRUMP aside, this pair is up against it later this year and next.</li>\r\n</ol>\r\n<u>THE WEEKLY FX DRIVE THRU – LIVE:</u>\r\n\r\nNext webinar:  Monday February 5th 2017 at 5:30PM EST.\r\n\r\nYou can register on the link below; they will be recorded and distributed after the event. To access the webinar or see the recording you will need Google Chrome as your browser, and, for a short initial period the webinars will NOT play on smart phones or tablets.\r\n\r\nhttp://bit.ly/drivethru-live\r\n\r\n<strong> </strong>\r\n\r\n<u>PREMIUM SERVICE - TRADES REVIEW<strong>:</strong></u>\r\n\r\nPlease note I cannot get my excel links to run. I have tried about 20 times. At the moment I am struggling to fix this. Even my re-build is not working.\r\n\r\nCURRENT PREMIUM SERVICE - LIVE TRADES:\r\n\r\nCURRENT PREMIUM SERVICE – LIMIT ORDER TRADES:\r\n\r\n&nbsp;\r\n\r\n<strong> </strong><strong> </strong>\r\n<ol start=\"5\">\r\n 	<li><strong> SCOTT’S SOAPBOX:</strong></li>\r\n</ol>\r\n<p style=\"text-align: center;\"><strong>TRUMPANTICS</strong></p>\r\nLast week world news was once again being dominated by “TRUMPANTICS”. We are dealing with a child as a President. I admire the fact that for once someone in office is doing what they said they would do, however, like his policies or not, that is refreshing. It is the fact that he cannot conduct himself in a Presidential matter that takes a lot of getting used to and the TWEETS we just should adjust to.\r\n\r\nWe now have Federal Judges involved with the Executive Orders over the “travel ban”, this means more diversions, more uncertainties for the markets to absorb and react to.\r\n\r\nGreat jobs numbers all around in the USA last week. ADP and NFP blow out numbers. Wage growth was not a good number when it was released at the same time as NFP and the markets reacted poorly. It was too big of a negative reaction in my opinion. I expected with these numbers to see the DXY back at 101.00. We closed the week at 99.73.\r\n\r\nMy fear moving forward is the FED will remain on hold for most, if not all, of this year. This is a change in monetary policy for the USA and will suit the TRUMP plans to keep the USD weaker.\r\n\r\nThe FOMC held rates unchanged last week and Janet Yellen was quite dovish in her language used in the released monetary policy statement. This is at the root of a sea-change that I believe is starting to happen.\r\n\r\nI can see confrontation ahead between TRUMP and the FED which will of course call into question the independence of the FED. TRUMP could not give a rat’s ass about that, he wants total control.  This ripple of a change that we are witnessing at the moment could be a full-blown tsunami within days if TRUMP starts on the TWEETS with FED policies, Yellen and the FOMC.\r\n\r\nFED monetary policy worries me; I am NOT convinced. I do NOT care what the clever people on BLOOMBERG and CNBC say. They all got TRUMP wrong and the effects of TRUMP wrong. The FED can change policy based on uncertain markets and domestic policy. They could re-assess inflation targets to 3.5-4% given the massive changes planned by the TRUMP administration. That means rates possibly on hold until 2019.\r\n\r\nIf Janet Yellen wants to keep her job she may have no choice.\r\n\r\nJanet Yellen is a dove; she always will be. It’s easier to be a dove than a hawk. TRUMP wants a weak USD. Low rates forever gives him this. FED policy could be changing. Otherwise Janet Yellen…you’re fired!!\r\n\r\nThis is a biggie.\r\n\r\nTake care and maybe re-evaluate your tactics. I am in the middle right now of looking at my trading plan moving forward reassessing my risks.\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n<ol start=\"6\">\r\n 	<li><strong> CLOSING THOUGHTS:</strong></li>\r\n</ol>\r\nNothing more to add here, I have said enough except,\r\n\r\nAs usual…\r\n\r\nAlways remember longevity in Forex trading can only be achieved through trading with good RISK and MONEY MANAGEMENT, and above all set your position sizes in accordance with the size of your account and allow for some flexibility.\r\n\r\nTake care, have a great trading week.\r\n\r\nScott Pickering\r\nThe Pip Accumulator\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/disclaimer/\">http://weeklyfxdrivethru.com/disclaimer/</a>\r\n\r\nBLOG VERSION: #126 PREMIUM SERVICE\r\nDATE: 5<sup>th</sup> February 2017.\r\n\r\n&nbsp;\r\n\r\n&nbsp;','TRUMPANTICS','','publish','open','closed','','trumpantics','','','2017-02-05 07:42:33','2017-02-05 12:42:33','',0,'http://weeklyfxdrivethru.com/?post_type=member_posts&#038;p=9075',0,'member_posts','',0),(6902,1,'2015-11-28 14:52:02','2015-11-28 19:52:02','<p style=\"text-align: center;\">THE PREMIUM SERVICE\r\nfrom the\r\nWEEKLY FX DRIVE THRU\r\n“The Home of Single Lot Trading”</p>\r\n\r\n<ol>\r\n	<li><strong> THE FX MARKET PLACE:</strong></li>\r\n</ol>\r\nLOOKING BACKWARDS, FORWARDS &amp; SIDEWAYS (FOR GOOD MEASURE) AT THE FX MARKET:\r\n\r\n1.1: LOOKING BACKWARDS:\r\n\r\nFrom a trading perspective, all things seem to have come together and this month so far has been a record for all of my accounts. Looking solely at the PREMIUM SERVICE trades the total pips banked this month so far are: - 3,140.\r\n\r\nThere are several specific circumstances and factors that have come together to create this performance. The simple fact is “ALL of them” have been discussed at length over recent weeks/months in this blog.\r\n\r\nLeaping forward, but actually backwards…\r\n\r\nFinally the SNB let loose and has made its intentions clear ahead of the ECB press conference this week on the 3<sup>rd</sup> December. I am not sure exactly what Thomas Jordan’s (SNB governing body chairman) has in mind, I reached out to him but so far he has not responded to my email. The EUR/CHF exchange rate is pivotal to SNB policy (unwritten) and after the 1.2000 exchange rate peg was removed earlier this year, in the aftermath a 1.1000 minimum was rumoured to be the new floor (unwritten). The EUR/CHF flirted with this level but it has never held. In my opinion, over the past two months or so the SNB had been supporting the EUR/CHF around 1.0750.\r\n\r\nMy suspicions are that the SNB will act aggressively in the market to ensure the CHF weakens further. Whether there is more ahead of the ECB this week, at the same time as the ECB or just after, is up for debate. If Jordan responds to my enquiry, you will be the first to know.\r\n\r\nApart from the SNB the other big news is that the DIVERGENT TRADE PLAN is up and running, or rather that should be up and motoring! We may be in the early stages but central bank monetary policy divergence, which should be rubber stamped in the next two weeks is already having the desired effect.\r\n\r\nTogether with my subscribers we will exploit the crap out of this next year. We will be measured, calm and most of all not greedy. These moves should be directional but there will be sideways moves and consolidations along the way. There are thousands and thousands of pips potentially available; but as it will not be a straight-line waterfall drop we will be strategic and disciplined in the approach. I am looking forward to 2016. All we require is for Mario Draghi to carry on what he has started these past two weeks and for Janet Yellen to extract the digit, stop dithering and deliver the FED normalization plan. All things being equal we should have a great trading year in 2016.\r\n\r\n(I am writing about Mario Draghi and the ECB later, if you were wondering why he is not mentioned in this section of the blog).\r\n\r\nHere are the key dates next month: -\r\n\r\n3<sup>rd</sup> December 2015: ECB meeting in Frankfurt with press conference.\r\n16<sup>th</sup> December 2015: FOMC meeting with press conference.\r\n\r\nThe special FED announcement last Monday never happened. I was ready expecting the discount rate to be raised. I was even ready for my 10% bet that the FED may raise both rates and surprise the markets. Then I smacked my head against the wall calling myself a bloody idiot…. Janet Yellen is so damn Conservative and boring, what was I thinking. A risky day for her as far as she is concerned is a blue pen instead of a black one.\r\n\r\nShe completely redefines living on the edge! Had she raised both rates last Monday, the FED would have been calling 911 (999) to bring in boxes of tissues for all the FOMC members and probably half the press corps as well to cope with the ensuing nose-bleeds that would have occurred, not just from the announcement but also, the ensuing issues of them clattering into walls, doors and each other as they all would not be able to cope with simple directional movements.\r\n\r\nMoving on….\r\n\r\nNot much else really caught my eye on the news front. Currency wise, the commodity currencies firmed at the beginning of the week, but this faded towards the end as the USD (DXY) strengthened once again. The EUR/USD helped by Draghi was lower and under pressure all week.\r\n\r\nIf I heard it once last week, I heard it 100 times, traders who took profits too soon on the EUR/USD and USD/CHF pairs in particular, were trying to hype up the risks of a squeeze much higher in the EUR/USD. It was like the boy that cried wolf; maybe eventually they could claim a victory. Well, as we saw last week these pairs didn’t squeeze or pull back dramatically at all. Sentiment looks very bearish EUR/USD and very bullish USD/CHF.\r\n\r\nI think, we have to be careful of a buy the rumour sell the news event around the ECB Press Conference this week. Having said that I would think you would be a little foolish to be short the USD entering into this announcement. Personally, I closed multiple positions that were open just after the SNB intervention last Friday. I am actively looking to re-enter this week but only with USD long trades and not a lot of them.\r\n\r\nIf there were risks of buy the rumour sell the news, I think the SNB action last Friday has certainly placed a spanner (wrench) in the works. This will make people think twice.\r\n\r\n&nbsp;\r\n\r\n1.2: LOOKING FORWARD:\r\n\r\nMAJOR FOREX NEWS THIS WEEK THAT INTERESTS ME:\r\n\r\n(There are many more news items related to the Forex Market other than the ones listed below. These are the ones that interest me. You can go to <a href=\"http://www.forexfactory.com\">www.forexfactory.com</a> and <a href=\"http://www.tradingeconomics.com\">www.tradingeconomics.com</a> for a more comprehensive lists of all news events that are Forex related).\r\nSUNDAY: NZD – ANZ Business Confidence.\r\n\r\nMONDAY: AUD – RBA Rate Statement.\r\nMONDAY: CNY – PMi Data.\r\n\r\nTUESDAY: GBP – Manufacturing PMi.\r\nTUESDAY: CAD – GDP.\r\nTUESDAY: NZD – GDT Dairy Auction Prices.\r\nTUESDAY: USD – ISM Manufacturing PMi.\r\nTUESDAY: AUD – GDP.\r\n\r\nWEDNESDAY: GBP – Construction PMi.\r\nWEDNESDAY: USD – ADP Non-Farm Payrolls.\r\nWEDNESDAY: CAD – BOC Rate Statement.\r\nWEDNESDAY: USD – Words of wisdom from Janet Yellen (FED).\r\nWEDNESDAY: AUD – Trade Balance.\r\n\r\nTHURSDAY: GBP – Services PMi\r\nTHURSDAY: EUR – ECB Rate Announcement and Press Conference.\r\nTHURSDAY: USD – More words of wisdom from Janet Yellen (FED).\r\nTHURSDAY: USD – ISM Non-Manufacturing PMi.\r\nTHURSDAY: AUD – Retail Sales.\r\n\r\nFRIDAY: CAD – Employment Change/ Unemployment Rate/Trade Balance.\r\nFRIDAY: USD – Non-Farm Employment Data and Unemployment Rate.\r\nFRIDAY: USD - Trade balance.\r\n\r\n&nbsp;\r\n\r\nMY THOUGHTS ON THE NEWS ITEMS THIS COMING WEEK:\r\n\r\nThis is a big week on economic data.\r\n\r\nTo state the obvious – we have a clatter of market movers coming up.\r\n\r\nThe highlights as far as I am concerned are the central bank announcements and U.S. employment data.\r\n\r\nRBA – will they cut? Nothing at all is in the pipeline for a rate cut. The RBA has to do a balancing act between commodity prices being deep in the crapper and the fact that the Sydney housing prices are at bubble busting stage. The rest of the country’s housing is not that much of an issue. My thoughts are that Glenn Stevens (RBA Governor) will do nothing, and dither waiting to see what happens re the FED. That fact that GOLD and COPPER are at the precipice of a major dive lower must give Glenn Stevens sleepless nights but these central bankers are so cautious and despite their comments about being ahead of the curve, the majority are always playing catch up.\r\n\r\nLet me put this another way, if I was catching a plane with a central banker they would be at the ferry terminal waiting for it to land.\r\n\r\nBOC – Stephen Poloz (Governor of the BOC) in my opinion has to act. I think that I will be long the USD/CAD going into Wednesday morning. As you may know, I live in Quebec (at the moment); the home of “PastaGate” and the province of no investment, and no politician cares enough to speak his or her mind to tackle the deep-rooted issues of this province. The Toronto area economy is in great shape generally, but depressed commodity prices, especially Oil (which in my mind could go sub $30.00 before finding it’s bottom), are taking toll on the rest of the country. I gave Poloz the benefit of the doubt last time around as our new kid in a man’s job Justin Trudeau had just been elected. Remember the Canadian government has a history of posting incorrect data (as well as pre-releasing economic data to certain parts of the market); so do not believe everything you read. There is no confidence in the Canadian economy. In my opinion, Poloz needs to cut for the sake of retail and jobs moving forward.\r\n\r\nECB – Mario Draghi’s grand day out approaches. He has left us in no uncertain terms of late that he means business about fixing inflation in the Eurozone. As long as he delivers on QE and deposit rates this Thursday and jawbones until his jaw aches all will be well. Ignore yer woman Sabine Lautenschlager the German on the 6-person board of the European Central Bank (ECB), she is just making contradictory comments against Draghi for the home audience in Germany who love to provoke… it’s in their genes that is why they cannot understand or work with the Mediterranean mentality of Greece, Cyprus, Italy and Spain to name a few.\r\n\r\nU.S. NON-FARM PAYROLLS – Unless this number is an absolute howler, the unemployment rate jumps up 2 or 3 decimal points and average hours earnings don\'t dive lower, we are having a FED rate hike on December 13<sup>th</sup> 2015. All eyes will be looking at these statistics and without doubt it will be a market mover.\r\n\r\n&nbsp;\r\n\r\nI will add this comment for those traders who are newer to Forex. If you really want to trade Forex for a long time and want to make a consistent income from Forex…. DO NOT TRADE THIS WEEK. This may sound strange, but it may be the best advice you ever receive. Be what I call a voyeur trader, just watch from sidelines. Whilst I predict the week will have a lot of market moving data, it will also be a chop fest as the big market players such as the banks and larger institutions manipulate matters, as they get ready for the FED on the 13<sup>th</sup> December. It may be best just to sit back. If you feel you must participate trade small.\r\n\r\nBe on your guard.\r\n\r\nLiquidity starts to decline now as we approach the year-end. God knows what it will be like when the FED meets on the 13<sup>th </sup>December?\r\n\r\n&nbsp;\r\n\r\nMY KEY SUPPORT &amp; RESISTANCE LEVELS THIS WEEK FOR USD MAJORS<strong>:</strong>\r\n\r\nIn this section I have as usual kept my charts as minimalist as possible. All readers regardless of level of experience should be able to follow my thoughts from my comments to the levels on the charts with ease.\r\n\r\nMy usual chart provider was off-line, so the comments for each currency pair are written in the blog this week.\r\n\r\nEUR/USD - Weekly Closing Price: 1.0565\r\n\r\nWhich ever you look at the chart below. It’s bearish. The EUR/USD is bearish and all these “it will squeeze” analysts have got it wrong. It looks highly unlikely that entries short at 1.0750 and 1.0800 are going to happen. The pair is struggling with 1.0690… let us please face facts it looks nailed on that we are off to parity and beyond.\r\n\r\nSUPPORT: is at 1.0560 then minor support at 1.0520\r\nRESISTANCE: is at 1.0630.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/EURUSDDaily28112015.png\"><img class=\"aligncenter size-full wp-image-6894\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/EURUSDDaily28112015.png\" alt=\"EURUSDDaily28112015\" width=\"800\" height=\"600\" /></a>\r\n\r\n&nbsp;\r\n\r\nGBP/USD - Weekly Closing Price: 1.5040\r\n\r\nWe are close to testing 1.5000. This is a huge psychological number and if broken it opens up a major downside leg with this pair. 1.4850 would be the next target in my eyes. However, we are talking about the cable… notorious for false breakouts and false breakdowns. I want to be short the EUR/GBP, but decided against it as I think that the EUR/GBP will go nowhere. If both the EUR/USD and GBP/USD move lower the EUR/GBP will probably just stagnate at current levels. If the cable bounces then the EUR/GBP trade short is on. However, I think the cable will move in sympathy with the EUR/USD. Just be mindful of this pair.\r\n\r\nSUPPORT: 1.5000 then 1.4850\r\nRESISTANCE: 1.5140 then 1.5265\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/GBPUSDDaily28112015.png\"><img class=\"aligncenter size-full wp-image-6895\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/GBPUSDDaily28112015.png\" alt=\"GBPUSDDaily28112015\" width=\"800\" height=\"600\" /></a>\r\n\r\n&nbsp;\r\n\r\nAUD/USD - Weekly Closing Price: 0.7193\r\n\r\nIt looks like the move higher to 0.7275 was it. Given the fundamental position with copper, gold, iron ore and China, how the AUD currency could rally beggars belief. We are now moving lower back towards 0.7000. The RBA meets this week and will probably keep rates on hold. They have as previously mentioned got a difficult balancing act to perform. Failing commodity prices versus a housing boom / bubble in Sydney.\r\n\r\nSUPPORT: 0.7150 then 0.7070\r\nRESISTANCE 0.7230\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/AUDUSDDaily28112015.png\"><img class=\"aligncenter size-large wp-image-6893\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/AUDUSDDaily28112015-1024x468.png\" alt=\"AUDUSDDaily28112015\" width=\"1024\" height=\"468\" /></a>\r\n\r\n&nbsp;\r\n\r\nNZD/USD - Weekly Closing Price: 0.6534\r\n\r\nWe are range bound between 0.6500 and 0.6600. We have been in this range for over two weeks. I cannot see this changing until the RBNZ meet and cut rates.\r\n\r\nSUPPORT: 0.6500\r\nRESISTANCE: 0.6600\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/NZDUSDDaily28112015.png\"><img class=\"aligncenter size-large wp-image-6896\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/NZDUSDDaily28112015-1024x468.png\" alt=\"NZDUSDDaily28112015\" width=\"1024\" height=\"468\" /></a>\r\n\r\n&nbsp;\r\n\r\nUSD/CAD - Weekly Closing Price: 1.3371\r\n\r\nI want to be long this pair moving into the BOC rate decision this week. I am expecting a cut. Whether or not I can get the price level I want to be long is a matter of debate. But I would like to be long into Poloz’s announcement.\r\n\r\nSUPPORT: 1.3280\r\nRESISTANCE: 1.3460\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/USDCADH428112015.png\"><img class=\"aligncenter size-large wp-image-6897\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/USDCADH428112015-1024x468.png\" alt=\"USDCADH428112015\" width=\"1024\" height=\"468\" /></a>\r\n\r\n&nbsp;\r\n\r\nUSD/CHF - Weekly Closing Price: 1.0294\r\n\r\nWe are now breaking out. Thomas Jordan has moved ahead of the ECB. He had to given the plethora of options Mario Draghi (ECB) has and will use. I do not think that the SNB moves are over and the desire to weaken the CHF is as strong with Jordan as the desire to weaken the EUR is with Draghi.\r\n\r\nThe question is where next after breaking 1.0240. I think way above 1.1000 for sure. We now appear maybe to have an ascending channel to follow, see the chart below.\r\n\r\nSUPPORT: 1.0240\r\nRESISTANCE: 1.0350 then 1.0450\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/USDCHFDaily28112015.png\"><img class=\"aligncenter size-large wp-image-6898\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/USDCHFDaily28112015-1024x468.png\" alt=\"USDCHFDaily28112015\" width=\"1024\" height=\"468\" /></a>\r\n\r\n&nbsp;\r\n\r\nUSD/JPY - Weekly Closing Price: 122.89\r\n\r\nWe are in another trading range for this pair.\r\n\r\nSUPPORT:122.20\r\nRESISTANCE: 123.75\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/USDJPYDaily28112015.png\"><img class=\"aligncenter size-large wp-image-6899\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/USDJPYDaily28112015-1024x468.png\" alt=\"USDJPYDaily28112015\" width=\"1024\" height=\"468\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n1.3: LOOKING SIDEWAYS (FOR GOOD MEASURE):\r\n\r\nLast Friday, several of my subscribers expressed surprise and wrote to me just after I announced that I was pulling trades off the table after the SNB intervention. I said that I would revisit those thoughts for a wider audience in this blog.\r\n\r\nBasically after intervention once the immediate impact hits home you see an initial spike higher than maybe a smaller spike then the pullback. Just look across the hourly charts.\r\n\r\nBelow is the USD/CHF 60 minute chart, which is the perfect example in my mind of an intervention move and how they normally play out.\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/USDCHF-SNB-INTERVENTION-CHART-28112015.png\"><img class=\"aligncenter size-large wp-image-6901\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/USDCHF-SNB-INTERVENTION-CHART-28112015-1024x514.png\" alt=\"USDCHF SNB INTERVENTION CHART 28112015\" width=\"1024\" height=\"514\" /></a>\r\n\r\nI took profits pretty much across the board on USD/CHF, AUD/CHF and GBP/CHF trades on the basis that they will pull back, sometimes they test the breakout point, sometimes they pullback to previous horizontal support and then in both cases they normally turn back and head in the direction following the central bank intervention.\r\n\r\nWith my RADAR trades on this last move I banked 182 pips and with FUNDAMENTAL trades I banked 232 pips, across the three pairs listed above. Along the way from 0.9250 I have been banking profits on the USD/CHF off and on. It has been a spectacular overall trade and it is not finished yet.\r\n\r\nAs I mentioned to subscribers, yes, I could have just let the trades take the pullback if I am confident of the uptrend move returning. That is one way to look at the trade from a macro viewpoint. I decided several years ago that the best policy on intervention moves is to bank profits and then re-load once again. I am not looking for the glory of saying I had a trade with 800 pips profit in it. I trade to try and make $$$.\r\n\r\nThere is NEVER a bad time to bank profits. It is always better to bank profits than take losses. As an individual retail trader I cannot influence the market, with my PREMIUM SERVICE subscribers collectively still not big enough to influence.\r\n\r\nMy goals are simple with RADAR and FLASH trades bank profits that represent if possible a reasonable return for the risks involved. With FUNDAMENTAL trades I still want to bank profits but maybe not as often. Next year when this type of trade is in full flow it should be interesting.\r\n\r\nSo in summary after a large move in the CHF like we saw on Friday most CHF pairs were rather stretched and over-bought, you have to allow them a pullback to re-set. At that point think about re-entering again.\r\n\r\n&nbsp;\r\n\r\n<strong> </strong>\r\n<ol start=\"2\">\r\n	<li><strong> WHAT’S ON MY MIND:</strong></li>\r\n</ol>\r\n<p style=\"text-align: center;\"><strong>THE CURRENCY WARS ARE GATHERING PACE</strong></p>\r\nI was going to write solely about Mario Draghi, the ECB and the Eurozone this week giving them a real good slagging given that this is my last WEEKLY FX DRIVE THRU in this format (I think), and the last one of 2015.\r\n\r\nThen on Friday last week, in comes our good friend Thomas Jordan Chairman of the governing body of the SNB, introducing a stealth attack of currency intervention, I prefer manipulation (it sounds dirty) into the Forex markets.\r\n\r\nThis time it was “Happy Days”\r\n\r\nThe last time Jordan intervened so obviously was the EUR/CHF peg removal, I took a serious hit that day and given the behavior of FXCM to my subscribers and myself we parted company as a result and my group switched to alternative brokers.\r\n\r\n2015 we will be remembered in my mind for several new key words and phrases relating to Forex, which were added to my daily vocabulary that originated from central bankers. Also, 2015 will be remembered as the year of central bank denial.\r\n\r\nLet me elaborate, with just a couple of my thoughts…\r\n\r\nIn 2014 we had “Taper” introduced by Ben Bernanke. He was also responsible for “Transitory” I hardly ever used this word until late 2014 into and throughout 2015. What the hell does it mean? I thought it similar to temporary. For the whole of 2015 inflation targets, growth targets have all been “Transitory”, what a load of bollo**s. Transitory = permanent feature.\r\n\r\nJanet Yellen is “Data dependent”. Jesus, you can imagine her at home with her family and friends serving potatoes at a meal to those sitting around the table. When she asks who wants more the distribution of the spuds will be on a supporting data dependent basis. Do these people use this language at home?\r\n\r\nThe gas bill is high… its only “Transitory” We need to reduce its size by “Tapering”.\r\n\r\nThen there is central bank denial. We don’t have DEFLATION we have disinflation. Come on what a load of crap this is. The reason that central bankers wont say DEFLATION is because they know that the markets know that central bankers have no cure for DEFLATION. However, disinflation sounds different and given that half the media aren’t bright enough to see the difference they never challenge the central bank governors on the word change.\r\n\r\nFinally we have the denial from the central banks and governments in the G7.\r\n\r\nCURRENCY WARS…\r\n\r\nThere are currency wars all over the G7. As soon as someone states currency wars to a central banker or government official they go into “bull / camel or cow sh*t” mode.\r\n\r\nThe U.S. started this by accusing China of manipulation, yet the FED is the largest manipulator on the planet.\r\n\r\nLed by the FED we have Quantitative Easing (QE) of sorts in the UK (Asset Purchase Facility), the ECB and BOJ also have QE. The SNB intervene although they never tell you directly they are intervening and finally the RBNZ says that they have intervened and that they would be proud to do it again.\r\n\r\nCURRENCY WARS are happening, all day everyday and for the longer-term they are here to stay and they are getting more intense.\r\n\r\nLets look at the last 10 days.\r\n\r\nMario Draghi took to the floor for a speech in Frankfurt on November 20th after an early speech he made had weakened the EUR/USD, however it did not sustain its fall and bounced back. Not put off and with severe inflation… sorry DEFLATION issues in the Eurozone he took to the floor and basically gave a speech, which made you, believe that if you owned the EUR you should be committed immediately. The floor fell through the EUR/USD and it has not sustained any bounce since. It is holding levels well within striking distance of new 52-week lows.\r\n\r\nIn no uncertain terms he made it abundantly clear that he was going to use all the tools available to him to further weaken the single currency.\r\n\r\nHere were the key points he referred to: -\r\n<ul>\r\n	<li>Inflation in the Eurozone is slipping fast.</li>\r\n	<li>There is too much slack in the Eurozone economy.</li>\r\n	<li>The effect of lower oil process is keeping inflation low.</li>\r\n	<li>He is looking to increase / expand the current €1.1 trillion QE program.</li>\r\n	<li>The ECB is thinking of moving the overnight deposit rate paid by the ECB further below zero in an attempt to force central banks to place more money into the economy.</li>\r\n	<li>Core inflation excluding energy and food is still too weak.</li>\r\n	<li>No real wage growth.</li>\r\n</ul>\r\nIn fairness you cannot get a simpler more direct speech about the intentions of a central banker. Had the EUR/USD bounced I would have seriously questioned trading currencies. Having read all of Draghi’s recent statements, I understand the need for Forex analysts to be contrarian to grasp attention all these traders calling contrarian moves, I get it, but sometimes FUNDAMENTALS are so powerful TECHNICALS can take second place. This only ever happens about 5% of the time; this has been one of the 5% occasions.\r\n\r\nAll the calls for a EUR/USD squeeze, I get it but sometimes you just have to give in. All the huffin’ and puffin’ ain’t gonna move the EUR/USD at the moment. It looks dead in the water waiting for Draghi and the press conference on December 3<sup>rd</sup>. Maybe then we may see a sell the rumour buy the news, who knows, but for now there is no Lazarus effect.\r\n\r\nDraghi’s jawboning has had a knock-on effect.\r\n\r\nThe SNB had to act given what the ECB are about to undertake. I have no doubt that Thomas Jordan has a very good (maybe 100%) idea what is on the table for the ECB to debate about possible implementation and about 80% knowledge about what is a green for go.\r\n\r\nIt’s all about equilibrium and having the edge as a central bank. They need and desire to maintain the status quo because as one moves basically a domino effect takes hold and the rest assess and decide. Ultimately they move on interest rates or now that interest rates are almost at 0% around the G7, the next route is to ease through QE or an equivalent.\r\n\r\nCountries who export goods need to be competitive and full employment desires mean that finished goods must be sold to keep people in jobs. Exchange rates are a vital component of pricing, hence the importance of manipulation in the Forex markets and why with a global recession hanging over the world like the sword of Damocles means pricing must be competitive to ensure full employment…. It is a constant circle of life.\r\n\r\nThe SNB have not finished, like every other country they want a weak currency to enable cheaper exports. Also due to their banking background of neutrality being a safe haven, they introduced a deposit tax for lodgement in Swiss banks to discourage leaving money in Swiss accounts, which created CHF strength. They will increase the costs to deposit funds in a further attempt to weaken the currency by making even less of an attractive proposition to hold.\r\n\r\nThis is not QE but it is currency manipulation and it is most definitely part of the on-going currency war.\r\n\r\nWhat else will the SNB do? It all depends on what the ECB implement and for how long later this week.\r\n\r\nThe BOJ were not allegedly up for more QE. Rumours are circulating once again that after the FED and ECB action in December they will review once again to see if they need to extend their program.\r\n\r\nWhere does this leave the commodity currency countries like Australia, Canada and New Zealand? In my opinion, they will all cut rates. Housing bubbles or not, they will review lending criteria to try to manage the housing bubbles. They will cut rates to try and promote spending, full employment, growth and restore consumer confidence amongst other things.\r\n\r\nIn my opinion, the currency wars are intensifying and gathering pace.\r\n\r\n&nbsp;\r\n\r\n<strong> </strong>\r\n<ol start=\"3\">\r\n	<li><strong> THE PREMIUM SERVICE:</strong></li>\r\n</ol>\r\n3.1: SUMMARY OF YEAR TO DATE PERFORMANCE - 2015:\r\n\r\nPREMIUM SERVICE – COST INCOME ANALYSIS (USD):\r\n<p style=\"text-align: center;\">PROFITS FROM TRADES COMPLETED THIS YEAR – to November 28th 2015.</p>\r\n<p style=\"text-align: center;\">MICRO LOT TRADER - 659 trades cost to trade = $65.90\r\n<strong>PROFIT</strong> from 659 trades = <strong>$1,299.80\r\nNET Pips of PROFIT = 12,998\r\n</strong>(You spend $65.90 on trades and your gross return is $1,299.80)</p>\r\n<p style=\"text-align: center;\">MINI LOT TRADER - 659 trades cost to trade = $659.00\r\n<strong>PROFIT</strong> from 659 trades = <strong>$12,998.00\r\n</strong><strong>NET Pips of PROFIT = 12,998\r\n</strong>(You spend $659.00 on trades and your gross return is $12,998.00)</p>\r\n<p style=\"text-align: center;\">STANDARD LOT TRADER - 659 trades cost to trade = $6,590.00\r\n<strong>PROFIT</strong> from 659 trades = <strong>$129,980.00\r\n</strong><strong>NET Pips of PROFIT = 12,998\r\n</strong>(You spend $6,590.00 on trades and your gross return is $129,980.80)</p>\r\n<p style=\"text-align: center;\">The profit levels above are based on single lot trades only; obviously if you trade with two lots the returns double and so on…………</p>\r\nNOTES:\r\n<ul>\r\n	<li>If the above return from Forex Trading interests you go to my website landing page at <a href=\"http://www.weeklyfxdrivethru.com\">weeklyfxdrivethru.com</a> and check out the subscription options and special promotions under the tabs “PREMIUM SERVICE” and “PROMOTIONS”</li>\r\n	<li>If you want more data about the performance and my website does not answer your questions, contact me directly and I will supply the data you require.</li>\r\n	<li>THE PREMIUM SERVICE has subscribers with broker accounts of sizes ranging from $2,500 to over $100,000. A profitable trade is a profitable trade. It is all about trading according to the size of your broker account with EFFECTIVE POSITION SIZING and applying RISK MANAGEMENT principles at all times</li>\r\n</ul>\r\n&nbsp;\r\n\r\n3.2: DIVERGENT FUNDAMENTAL TRADES:\r\n\r\nOver recent weeks I have alerted subscribers to the FREE NEWSLETTER (this version of the WEEKLY FX DRIVE THRU), that since September I have been developing longer-term trades based upon central bank monetary policy divergence.\r\n\r\nThese trades went LIVE with my PREMIUM SERVICE subscribers in early November. In the month of November the total number of pips generated from this type of trade alone was 1,966.\r\n\r\nIf you are new to Forex Trading, maybe not even a trader at the moment but you are interested in generating another source of income, adding $$$$ to your family income, or maybe an existing trader looking to diversify and add an additional income stream. Then check out my website <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a> on the landing page at the top there are a number of tabs.\r\n\r\n<u>PREMIUM SERVICE</u> – provides an overview and history of the PREMIUM SERVICE together with performance analysis.\r\n\r\n<u>PART-TIME TRADERS</u> – sets out goals and objectives about DIVERGENT FUNDAMENTAL TRADES as well as the history as to how they came into being.\r\n\r\nShould you have any questions at all concerning these subjects do not hesitate to contact me.\r\n\r\n&nbsp;\r\n\r\n3.3: PREMIUM SERVICE – 2015 PERFORMANCE TO DATE:\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/PS-PROFITS1-28112015.png\"><img class=\"aligncenter size-full wp-image-6880\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/PS-PROFITS1-28112015.png\" alt=\"PS PROFITS1 28112015\" width=\"523\" height=\"420\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/PS-PROFITS2-28112015.png\"><img class=\"aligncenter size-full wp-image-6881\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/PS-PROFITS2-28112015.png\" alt=\"PS PROFITS2 28112015\" width=\"533\" height=\"415\" /></a>\r\n\r\n&nbsp;\r\n\r\n3.4: PREMIUM SERVICE – 2014 TOTAL PERFORMANCE:\r\n\r\n<strong> <a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/PS-PROFITS-2014.png\"><img class=\"aligncenter size-full wp-image-6791\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/PS-PROFITS-2014.png\" alt=\"PS PROFITS 2014\" width=\"529\" height=\"487\" /></a></strong>\r\n\r\n&nbsp;\r\n\r\n<strong> </strong>\r\n<ol start=\"4\">\r\n	<li><strong> PREMIUM SERVICE (GOLD) EXCLUSIVE CONTENT:</strong></li>\r\n</ol>\r\n(This area contains exclusive content for PREMIUM SERVICE (GOLD) subscribers)\r\n\r\n&nbsp;\r\n\r\n4.1: THE PREMIUM SERVICE – TRADING REVIEW:\r\n\r\n(A look back at the past week’s highs and lows from trades undertaken and a look around at other relevant subscriber information):\r\n\r\nThis has been a great trading month, the best since the PREMIUM SERVICE started. There is still one more day to go and so far there has been 3,140 pips of profit added to the annual performance.\r\n\r\nI am holding two longer-term trades, essentially both are being treated as FUNDAMENTAL in my mind, namely long the EUR/CHF and EUR/NZD.\r\n\r\nEverything else is fairly routine as we head into crunch / decision time with “dithering Janet” and “cool hand Mario”.\r\n\r\nMy action plan from now until the year-end is straightforward and uncomplicated. I want to be long the USD going into the FED meeting. I am not too worried about the ECB meeting, it will be what it is but I do want to have my USD/CHF and EUR/USD trades in position ready to go.\r\n\r\nAt the moment I have additional CHF trades already loaded as LIMIT ORDERS for both RADAR and FUNDAMENTAL trades. The only pairs that I have to re-visit regarding the CHF are the CAD/CHF and NZD/CHF.\r\n\r\nMoving forward in the belief that the FED raises and the ECB adds more easing by the year end, I expect to have about 25% of my FUNDAMENTAL trades in position, with maybe some additional trades stacked as limit orders.\r\n\r\nRADAR and FLASH trades should be at zero by Christmas ready to pick up in January once again. The next WEEKLY FX DRIVE THRU after this one is scheduled for January 10<sup>th</sup> 2016.\r\n\r\nThroughout December as trades move in and out I will be active on twitter. It is only the blog that will disappear. After the FED I will be on vacation until after the New Year celebrations are over then I will be charging up ready to go after January 10<sup>th</sup> 2016.\r\n\r\nI am not looking at more charts at the moment, I will do this from Monday onwards. I want to review after the weekend has passed.\r\n\r\n&nbsp;\r\n\r\n4.2: THE DIVERGENT CB MONETARY POLICY – FUNDAMENTAL TRADES:\r\n\r\n1,966 pips from these trades this month, so far. I am delighted with the start and we are only just getting going. I have added my trading strategy on these trades to my TRADE PLAN. It still needs a little fine-tuning but next year it will become very clear about the trading tactics that I am proposing. I just need the central banks to play ball over the next two weeks.\r\n\r\nIf you are trading this style of trade I will be active (I think) quite a bit through the Christmas break.\r\n\r\n&nbsp;\r\n\r\n4.3: CHANGES TO MY PREFERRED FX BROKER LINEUP:\r\n\r\nMy new broker relationships to be advertised on my DRIVE THRU website, Hantec Markets and Vantage FX, will both soon have their banners on the website landing page along with my existing three FX brokers, Blackwell Global, AvaTrade and FX Pro.\r\n\r\nIf anyone would like to open an additional trading account prior to the banners being launched from these new brokers just contact me.\r\n\r\n&nbsp;\r\n\r\n4.4: REVISIONS TO TRADE STYLE DEFINITIONS:\r\n\r\nAs I am now adding what I hope to be longer-term trades based upon “Divergent Central bank Policy” to the PREMIUM SERVICE, I think it is time to re-address the trade styles.\r\n\r\nA couple of you wanted to add a 4<sup>th</sup> trade style to cover these new trades. Instead of doing this I think its easier just to simplify what is there at the moment as follows: -\r\n\r\nFLASH TRADES:\r\n\r\nOpportunist trades in LIVE market conditions. These trades are either based off a pullback strategy, a GIMME10 strategy, or off momentum in a trading pair at the time of entry.\r\nThe goal is to either take 10-30 pips or see a sufficient move to place a protective stop in place to see if a swing trade develops.\r\nSome FLASH TRADES may form part of an overall trading plan with a given currency pair, but the entry could not be made via a LIMIT ORDER.\r\nRADAR TRADES:\r\n\r\nThese a pre-meditated entry trades set from either Fibonacci levels, pivot points or previous support and resistance based off a combination of horizontal or trend line support or resistance.\r\nThe goal is always if possible to swing trade these trades by establishing a position that if market conditions apply allow the trade to gather traction and develop into a longer-term position trade.\r\n\r\n&nbsp;\r\n\r\nFUNDAMENTAL TRADES:\r\n\r\nThese will be trades based off my TRADING PLAN goals for trades in line with my longer-term market views.\r\nTrades in this area will use in addition Fibonacci levels, Pivot points, trend lines and prior support and resistance levels, weekly and monthly ATR’s (Average True Ranges) when setting Stop Loss levels.\r\nThese trades are hopefully of a longer-term nature. They will be initially “single-lot” sized trades due to the wider stop placements that will be applied.\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n4.5: MAJOR TRADING PAIRS WITH LONGER-TERM MATCHING TRENDS:\r\n\r\n(The following currency pairs have Short Term (DAILY), Medium Term (WEEKLY) and Long Term (MONTHLY) charts all trending in the same direction).\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/TRENDING-PAIRS-28112015.png\"><img class=\"aligncenter size-full wp-image-6891\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/TRENDING-PAIRS-28112015.png\" alt=\"TRENDING PAIRS 28112015\" width=\"489\" height=\"621\" /></a>\r\n\r\n&nbsp;\r\n\r\n4.6: THE PREMIUM SERVICE - LIVE TRADES ARE:\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/LIVE-TRADES-28112015.png\"><img class=\"aligncenter size-full wp-image-6890\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/LIVE-TRADES-28112015.png\" alt=\"LIVE TRADES 28112015\" width=\"699\" height=\"550\" /></a>\r\n\r\n&nbsp;\r\n\r\n4.7: THE PREMIUM SERVICE – LIMIT ORDER TRADES ARE:\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/LIMIT-ORDERS-28112015.png\"><img class=\"aligncenter size-full wp-image-6889\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/LIMIT-ORDERS-28112015.png\" alt=\"LIMIT ORDERS 28112015\" width=\"688\" height=\"434\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n4.8: POTENTIAL TRADES - WHAT PAIRS / CHARTS AM I LOOKING AT?\r\n\r\nThere are no additional charts this week.\r\n\r\n<strong> </strong>\r\n\r\n<strong> </strong>\r\n<ol start=\"5\">\r\n	<li><strong> MY FINAL THOUGHTS:</strong></li>\r\n</ol>\r\nOVERVIEW OF TRADING TIPS &amp; THOUGHTS FOR THE WEEK AHEAD:\r\n\r\nThis is it the final WEEKLY FX DRIVE THRU blog of 2015. Apart from a year-end teaser marketing campaign to add subscribers to my fee-paying service I should be under the radar until January 10th 2016 when the first blog of 2016 is scheduled to appear.\r\n\r\nOver the next two weeks or so, in my opinion we have two central bank meetings that will determine many Forex trading plans for 2016. Should the ECB and / or the Fed dither on what is widely expected to now happen, all bets are off and I, like many other traders will have to once again re-assess the situation.\r\n\r\nNow being positive… I think it’s as good as saying hell would freeze over if the FED didn’t raise rates, in my opinion only an absolute disastrous NFP this Friday could cause a non rate increase. The ECB are in good hands with Mario Draghi; finally, he couldn\'t give a rats hairy a** about poor German policy ideas to fix the Eurozone. He has “seen the light” as Todd Rundgren would sing, and Merkel is “on the beaches sucking on the peaches” as the Stranglers once sang. The ECB will ease further Draghi has said so.\r\n\r\nThis week and next week is huge on news from central banks other than the ECB. I think that the RBA are 60/40 to keep rates on hold and the BOC should be 90/10 to cut rates in my opinion.\r\n\r\nIn addition to central bank news we have NFP, ADT, GDT, GDP data, PMI data and Business Confidence. The entire spectrum of economic data is represented this week.\r\n\r\nTrade lean and remain keen – that means trade with smaller positions with wider stops and be alert to moves. Markets will now start to thin out and the larger institutions will be starting to close positions and reduce sizes in readiness to close books to be ready to start clean and fresh in 2016.\r\n\r\nAll I have to do is wish all readers, followers, and subscribers…\r\n\r\nA Happy Christmas / Happy Holidays and lets look to bringing a bit of peace and sanity back into this planet next year.\r\n\r\nThanks everyone have a good one,\r\n\r\nTake care,\r\n\r\nScott Pickering\r\nThe Pip Accumulator\r\n<a href=\"https://weeklyfxdrivethru.com/disclaimer/\">https://weeklyfxdrivethru.com/disclaimer/\r\n</a>BLOG #83','THE CURRENCY WARS ARE GATHERING PACE','','publish','open','closed','','6902-2','','','2015-11-28 14:52:02','2015-11-28 19:52:02','',0,'https://weeklyfxdrivethru.com/?post_type=member_posts&#038;p=6902',0,'member_posts','',0),(6903,1,'2015-11-28 14:49:59','2015-11-28 19:49:59','<p style=\"text-align: center;\">THE PREMIUM SERVICE\r\nfrom the\r\nWEEKLY FX DRIVE THRU\r\n“The Home of Single Lot Trading”</p>\r\n\r\n<ol>\r\n	<li><strong> THE FX MARKET PLACE:</strong></li>\r\n</ol>\r\nLOOKING BACKWARDS, FORWARDS &amp; SIDEWAYS (FOR GOOD MEASURE) AT THE FX MARKET:\r\n\r\n1.1: LOOKING BACKWARDS:\r\n\r\nFrom a trading perspective, all things seem to have come together and this month so far has been a record for all of my accounts. Looking solely at the PREMIUM SERVICE trades the total pips banked this month so far are: - 3,140.\r\n\r\nThere are several specific circumstances and factors that have come together to create this performance. The simple fact is “ALL of them” have been discussed at length over recent weeks/months in this blog.\r\n\r\nLeaping forward, but actually backwards…\r\n\r\nFinally the SNB let loose and has made its intentions clear ahead of the ECB press conference this week on the 3<sup>rd</sup> December. I am not sure exactly what Thomas Jordan’s (SNB governing body chairman) has in mind, I reached out to him but so far he has not responded to my email. The EUR/CHF exchange rate is pivotal to SNB policy (unwritten) and after the 1.2000 exchange rate peg was removed earlier this year, in the aftermath a 1.1000 minimum was rumoured to be the new floor (unwritten). The EUR/CHF flirted with this level but it has never held. In my opinion, over the past two months or so the SNB had been supporting the EUR/CHF around 1.0750.\r\n\r\nMy suspicions are that the SNB will act aggressively in the market to ensure the CHF weakens further. Whether there is more ahead of the ECB this week, at the same time as the ECB or just after, is up for debate. If Jordan responds to my enquiry, you will be the first to know.\r\n\r\nApart from the SNB the other big news is that the DIVERGENT TRADE PLAN is up and running, or rather that should be up and motoring! We may be in the early stages but central bank monetary policy divergence, which should be rubber stamped in the next two weeks is already having the desired effect.\r\n\r\nTogether with my subscribers we will exploit the crap out of this next year. We will be measured, calm and most of all not greedy. These moves should be directional but there will be sideways moves and consolidations along the way. There are thousands and thousands of pips potentially available; but as it will not be a straight-line waterfall drop we will be strategic and disciplined in the approach. I am looking forward to 2016. All we require is for Mario Draghi to carry on what he has started these past two weeks and for Janet Yellen to extract the digit, stop dithering and deliver the FED normalization plan. All things being equal we should have a great trading year in 2016.\r\n\r\n(I am writing about Mario Draghi and the ECB later, if you were wondering why he is not mentioned in this section of the blog).\r\n\r\nHere are the key dates next month: -\r\n\r\n3<sup>rd</sup> December 2015: ECB meeting in Frankfurt with press conference.\r\n16<sup>th</sup> December 2015: FOMC meeting with press conference.\r\n\r\nThe special FED announcement last Monday never happened. I was ready expecting the discount rate to be raised. I was even ready for my 10% bet that the FED may raise both rates and surprise the markets. Then I smacked my head against the wall calling myself a bloody idiot…. Janet Yellen is so damn Conservative and boring, what was I thinking. A risky day for her as far as she is concerned is a blue pen instead of a black one.\r\n\r\nShe completely redefines living on the edge! Had she raised both rates last Monday, the FED would have been calling 911 (999) to bring in boxes of tissues for all the FOMC members and probably half the press corps as well to cope with the ensuing nose-bleeds that would have occurred, not just from the announcement but also, the ensuing issues of them clattering into walls, doors and each other as they all would not be able to cope with simple directional movements.\r\n\r\nMoving on….\r\n\r\nNot much else really caught my eye on the news front. Currency wise, the commodity currencies firmed at the beginning of the week, but this faded towards the end as the USD (DXY) strengthened once again. The EUR/USD helped by Draghi was lower and under pressure all week.\r\n\r\nIf I heard it once last week, I heard it 100 times, traders who took profits too soon on the EUR/USD and USD/CHF pairs in particular, were trying to hype up the risks of a squeeze much higher in the EUR/USD. It was like the boy that cried wolf; maybe eventually they could claim a victory. Well, as we saw last week these pairs didn’t squeeze or pull back dramatically at all. Sentiment looks very bearish EUR/USD and very bullish USD/CHF.\r\n\r\nI think, we have to be careful of a buy the rumour sell the news event around the ECB Press Conference this week. Having said that I would think you would be a little foolish to be short the USD entering into this announcement. Personally, I closed multiple positions that were open just after the SNB intervention last Friday. I am actively looking to re-enter this week but only with USD long trades and not a lot of them.\r\n\r\nIf there were risks of buy the rumour sell the news, I think the SNB action last Friday has certainly placed a spanner (wrench) in the works. This will make people think twice.\r\n\r\n&nbsp;\r\n\r\n1.2: LOOKING FORWARD:\r\n\r\nMAJOR FOREX NEWS THIS WEEK THAT INTERESTS ME:\r\n\r\n(There are many more news items related to the Forex Market other than the ones listed below. These are the ones that interest me. You can go to <a href=\"http://www.forexfactory.com\">www.forexfactory.com</a> and <a href=\"http://www.tradingeconomics.com\">www.tradingeconomics.com</a> for a more comprehensive lists of all news events that are Forex related).\r\nSUNDAY: NZD – ANZ Business Confidence.\r\n\r\nMONDAY: AUD – RBA Rate Statement.\r\nMONDAY: CNY – PMi Data.\r\n\r\nTUESDAY: GBP – Manufacturing PMi.\r\nTUESDAY: CAD – GDP.\r\nTUESDAY: NZD – GDT Dairy Auction Prices.\r\nTUESDAY: USD – ISM Manufacturing PMi.\r\nTUESDAY: AUD – GDP.\r\n\r\nWEDNESDAY: GBP – Construction PMi.\r\nWEDNESDAY: USD – ADP Non-Farm Payrolls.\r\nWEDNESDAY: CAD – BOC Rate Statement.\r\nWEDNESDAY: USD – Words of wisdom from Janet Yellen (FED).\r\nWEDNESDAY: AUD – Trade Balance.\r\n\r\nTHURSDAY: GBP – Services PMi\r\nTHURSDAY: EUR – ECB Rate Announcement and Press Conference.\r\nTHURSDAY: USD – More words of wisdom from Janet Yellen (FED).\r\nTHURSDAY: USD – ISM Non-Manufacturing PMi.\r\nTHURSDAY: AUD – Retail Sales.\r\n\r\nFRIDAY: CAD – Employment Change/ Unemployment Rate/Trade Balance.\r\nFRIDAY: USD – Non-Farm Employment Data and Unemployment Rate.\r\nFRIDAY: USD - Trade balance.\r\n\r\n&nbsp;\r\n\r\nMY THOUGHTS ON THE NEWS ITEMS THIS COMING WEEK:\r\n\r\nThis is a big week on economic data.\r\n\r\nTo state the obvious – we have a clatter of market movers coming up.\r\n\r\nThe highlights as far as I am concerned are the central bank announcements and U.S. employment data.\r\n\r\nRBA – will they cut? Nothing at all is in the pipeline for a rate cut. The RBA has to do a balancing act between commodity prices being deep in the crapper and the fact that the Sydney housing prices are at bubble busting stage. The rest of the country’s housing is not that much of an issue. My thoughts are that Glenn Stevens (RBA Governor) will do nothing, and dither waiting to see what happens re the FED. That fact that GOLD and COPPER are at the precipice of a major dive lower must give Glenn Stevens sleepless nights but these central bankers are so cautious and despite their comments about being ahead of the curve, the majority are always playing catch up.\r\n\r\nLet me put this another way, if I was catching a plane with a central banker they would be at the ferry terminal waiting for it to land.\r\n\r\nBOC – Stephen Poloz (Governor of the BOC) in my opinion has to act. I think that I will be long the USD/CAD going into Wednesday morning. As you may know, I live in Quebec (at the moment); the home of “PastaGate” and the province of no investment, and no politician cares enough to speak his or her mind to tackle the deep-rooted issues of this province. The Toronto area economy is in great shape generally, but depressed commodity prices, especially Oil (which in my mind could go sub $30.00 before finding it’s bottom), are taking toll on the rest of the country. I gave Poloz the benefit of the doubt last time around as our new kid in a man’s job Justin Trudeau had just been elected. Remember the Canadian government has a history of posting incorrect data (as well as pre-releasing economic data to certain parts of the market); so do not believe everything you read. There is no confidence in the Canadian economy. In my opinion, Poloz needs to cut for the sake of retail and jobs moving forward.\r\n\r\nECB – Mario Draghi’s grand day out approaches. He has left us in no uncertain terms of late that he means business about fixing inflation in the Eurozone. As long as he delivers on QE and deposit rates this Thursday and jawbones until his jaw aches all will be well. Ignore yer woman Sabine Lautenschlager the German on the 6-person board of the European Central Bank (ECB), she is just making contradictory comments against Draghi for the home audience in Germany who love to provoke… it’s in their genes that is why they cannot understand or work with the Mediterranean mentality of Greece, Cyprus, Italy and Spain to name a few.\r\n\r\nU.S. NON-FARM PAYROLLS – Unless this number is an absolute howler, the unemployment rate jumps up 2 or 3 decimal points and average hours earnings don\'t dive lower, we are having a FED rate hike on December 13<sup>th</sup> 2015. All eyes will be looking at these statistics and without doubt it will be a market mover.\r\n\r\n&nbsp;\r\n\r\nI will add this comment for those traders who are newer to Forex. If you really want to trade Forex for a long time and want to make a consistent income from Forex…. DO NOT TRADE THIS WEEK. This may sound strange, but it may be the best advice you ever receive. Be what I call a voyeur trader, just watch from sidelines. Whilst I predict the week will have a lot of market moving data, it will also be a chop fest as the big market players such as the banks and larger institutions manipulate matters, as they get ready for the FED on the 13<sup>th</sup> December. It may be best just to sit back. If you feel you must participate trade small.\r\n\r\nBe on your guard.\r\n\r\nLiquidity starts to decline now as we approach the year-end. God knows what it will be like when the FED meets on the 13<sup>th </sup>December?\r\n\r\n&nbsp;\r\n\r\nMY KEY SUPPORT &amp; RESISTANCE LEVELS THIS WEEK FOR USD MAJORS<strong>:</strong>\r\n\r\nIn this section I have as usual kept my charts as minimalist as possible. All readers regardless of level of experience should be able to follow my thoughts from my comments to the levels on the charts with ease.\r\n\r\nMy usual chart provider was off-line, so the comments for each currency pair are written in the blog this week.\r\n\r\nEUR/USD - Weekly Closing Price: 1.0565\r\n\r\nWhich ever you look at the chart below. It’s bearish. The EUR/USD is bearish and all these “it will squeeze” analysts have got it wrong. It looks highly unlikely that entries short at 1.0750 and 1.0800 are going to happen. The pair is struggling with 1.0690… let us please face facts it looks nailed on that we are off to parity and beyond.\r\n\r\nSUPPORT: is at 1.0560 then minor support at 1.0520\r\nRESISTANCE: is at 1.0630.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/EURUSDDaily28112015.png\"><img class=\"aligncenter size-full wp-image-6894\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/EURUSDDaily28112015.png\" alt=\"EURUSDDaily28112015\" width=\"800\" height=\"600\" /></a>\r\n\r\n&nbsp;\r\n\r\nGBP/USD - Weekly Closing Price: 1.5040\r\n\r\nWe are close to testing 1.5000. This is a huge psychological number and if broken it opens up a major downside leg with this pair. 1.4850 would be the next target in my eyes. However, we are talking about the cable… notorious for false breakouts and false breakdowns. I want to be short the EUR/GBP, but decided against it as I think that the EUR/GBP will go nowhere. If both the EUR/USD and GBP/USD move lower the EUR/GBP will probably just stagnate at current levels. If the cable bounces then the EUR/GBP trade short is on. However, I think the cable will move in sympathy with the EUR/USD. Just be mindful of this pair.\r\n\r\nSUPPORT: 1.5000 then 1.4850\r\nRESISTANCE: 1.5140 then 1.5265\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/GBPUSDDaily28112015.png\"><img class=\"aligncenter size-full wp-image-6895\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/GBPUSDDaily28112015.png\" alt=\"GBPUSDDaily28112015\" width=\"800\" height=\"600\" /></a>\r\n\r\n&nbsp;\r\n\r\nAUD/USD - Weekly Closing Price: 0.7193\r\n\r\nIt looks like the move higher to 0.7275 was it. Given the fundamental position with copper, gold, iron ore and China, how the AUD currency could rally beggars belief. We are now moving lower back towards 0.7000. The RBA meets this week and will probably keep rates on hold. They have as previously mentioned got a difficult balancing act to perform. Failing commodity prices versus a housing boom / bubble in Sydney.\r\n\r\nSUPPORT: 0.7150 then 0.7070\r\nRESISTANCE 0.7230\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/AUDUSDDaily28112015.png\"><img class=\"aligncenter size-large wp-image-6893\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/AUDUSDDaily28112015-1024x468.png\" alt=\"AUDUSDDaily28112015\" width=\"1024\" height=\"468\" /></a>\r\n\r\n&nbsp;\r\n\r\nNZD/USD - Weekly Closing Price: 0.6534\r\n\r\nWe are range bound between 0.6500 and 0.6600. We have been in this range for over two weeks. I cannot see this changing until the RBNZ meet and cut rates.\r\n\r\nSUPPORT: 0.6500\r\nRESISTANCE: 0.6600\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/NZDUSDDaily28112015.png\"><img class=\"aligncenter size-large wp-image-6896\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/NZDUSDDaily28112015-1024x468.png\" alt=\"NZDUSDDaily28112015\" width=\"1024\" height=\"468\" /></a>\r\n\r\n&nbsp;\r\n\r\nUSD/CAD - Weekly Closing Price: 1.3371\r\n\r\nI want to be long this pair moving into the BOC rate decision this week. I am expecting a cut. Whether or not I can get the price level I want to be long is a matter of debate. But I would like to be long into Poloz’s announcement.\r\n\r\nSUPPORT: 1.3280\r\nRESISTANCE: 1.3460\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/USDCADH428112015.png\"><img class=\"aligncenter size-large wp-image-6897\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/USDCADH428112015-1024x468.png\" alt=\"USDCADH428112015\" width=\"1024\" height=\"468\" /></a>\r\n\r\n&nbsp;\r\n\r\nUSD/CHF - Weekly Closing Price: 1.0294\r\n\r\nWe are now breaking out. Thomas Jordan has moved ahead of the ECB. He had to given the plethora of options Mario Draghi (ECB) has and will use. I do not think that the SNB moves are over and the desire to weaken the CHF is as strong with Jordan as the desire to weaken the EUR is with Draghi.\r\n\r\nThe question is where next after breaking 1.0240. I think way above 1.1000 for sure. We now appear maybe to have an ascending channel to follow, see the chart below.\r\n\r\nSUPPORT: 1.0240\r\nRESISTANCE: 1.0350 then 1.0450\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/USDCHFDaily28112015.png\"><img class=\"aligncenter size-large wp-image-6898\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/USDCHFDaily28112015-1024x468.png\" alt=\"USDCHFDaily28112015\" width=\"1024\" height=\"468\" /></a>\r\n\r\n&nbsp;\r\n\r\nUSD/JPY - Weekly Closing Price: 122.89\r\n\r\nWe are in another trading range for this pair.\r\n\r\nSUPPORT:122.20\r\nRESISTANCE: 123.75\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/USDJPYDaily28112015.png\"><img class=\"aligncenter size-large wp-image-6899\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/USDJPYDaily28112015-1024x468.png\" alt=\"USDJPYDaily28112015\" width=\"1024\" height=\"468\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n1.3: LOOKING SIDEWAYS (FOR GOOD MEASURE):\r\n\r\nLast Friday, several of my subscribers expressed surprise and wrote to me just after I announced that I was pulling trades off the table after the SNB intervention. I said that I would revisit those thoughts for a wider audience in this blog.\r\n\r\nBasically after intervention once the immediate impact hits home you see an initial spike higher than maybe a smaller spike then the pullback. Just look across the hourly charts.\r\n\r\nBelow is the USD/CHF 60 minute chart, which is the perfect example in my mind of an intervention move and how they normally play out.\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/USDCHF-SNB-INTERVENTION-CHART-28112015.png\"><img class=\"aligncenter size-large wp-image-6901\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/USDCHF-SNB-INTERVENTION-CHART-28112015-1024x514.png\" alt=\"USDCHF SNB INTERVENTION CHART 28112015\" width=\"1024\" height=\"514\" /></a>\r\n\r\nI took profits pretty much across the board on USD/CHF, AUD/CHF and GBP/CHF trades on the basis that they will pull back, sometimes they test the breakout point, sometimes they pullback to previous horizontal support and then in both cases they normally turn back and head in the direction following the central bank intervention.\r\n\r\nWith my RADAR trades on this last move I banked 182 pips and with FUNDAMENTAL trades I banked 232 pips, across the three pairs listed above. Along the way from 0.9250 I have been banking profits on the USD/CHF off and on. It has been a spectacular overall trade and it is not finished yet.\r\n\r\nAs I mentioned to subscribers, yes, I could have just let the trades take the pullback if I am confident of the uptrend move returning. That is one way to look at the trade from a macro viewpoint. I decided several years ago that the best policy on intervention moves is to bank profits and then re-load once again. I am not looking for the glory of saying I had a trade with 800 pips profit in it. I trade to try and make $$$.\r\n\r\nThere is NEVER a bad time to bank profits. It is always better to bank profits than take losses. As an individual retail trader I cannot influence the market, with my PREMIUM SERVICE subscribers collectively still not big enough to influence.\r\n\r\nMy goals are simple with RADAR and FLASH trades bank profits that represent if possible a reasonable return for the risks involved. With FUNDAMENTAL trades I still want to bank profits but maybe not as often. Next year when this type of trade is in full flow it should be interesting.\r\n\r\nSo in summary after a large move in the CHF like we saw on Friday most CHF pairs were rather stretched and over-bought, you have to allow them a pullback to re-set. At that point think about re-entering again.\r\n\r\n&nbsp;\r\n\r\n<strong> </strong>\r\n<ol start=\"2\">\r\n	<li><strong> WHAT’S ON MY MIND:</strong></li>\r\n</ol>\r\n<p style=\"text-align: center;\"><strong>THE CURRENCY WARS ARE GATHERING PACE</strong></p>\r\nI was going to write solely about Mario Draghi, the ECB and the Eurozone this week giving them a real good slagging given that this is my last WEEKLY FX DRIVE THRU in this format (I think), and the last one of 2015.\r\n\r\nThen on Friday last week, in comes our good friend Thomas Jordan Chairman of the governing body of the SNB, introducing a stealth attack of currency intervention, I prefer manipulation (it sounds dirty) into the Forex markets.\r\n\r\nThis time it was “Happy Days”\r\n\r\nThe last time Jordan intervened so obviously was the EUR/CHF peg removal, I took a serious hit that day and given the behavior of FXCM to my subscribers and myself we parted company as a result and my group switched to alternative brokers.\r\n\r\n2015 we will be remembered in my mind for several new key words and phrases relating to Forex, which were added to my daily vocabulary that originated from central bankers. Also, 2015 will be remembered as the year of central bank denial.\r\n\r\nLet me elaborate, with just a couple of my thoughts…\r\n\r\nIn 2014 we had “Taper” introduced by Ben Bernanke. He was also responsible for “Transitory” I hardly ever used this word until late 2014 into and throughout 2015. What the hell does it mean? I thought it similar to temporary. For the whole of 2015 inflation targets, growth targets have all been “Transitory”, what a load of bollo**s. Transitory = permanent feature.\r\n\r\nJanet Yellen is “Data dependent”. Jesus, you can imagine her at home with her family and friends serving potatoes at a meal to those sitting around the table. When she asks who wants more the distribution of the spuds will be on a supporting data dependent basis. Do these people use this language at home?\r\n\r\nThe gas bill is high… its only “Transitory” We need to reduce its size by “Tapering”.\r\n\r\nThen there is central bank denial. We don’t have DEFLATION we have disinflation. Come on what a load of crap this is. The reason that central bankers wont say DEFLATION is because they know that the markets know that central bankers have no cure for DEFLATION. However, disinflation sounds different and given that half the media aren’t bright enough to see the difference they never challenge the central bank governors on the word change.\r\n\r\nFinally we have the denial from the central banks and governments in the G7.\r\n\r\nCURRENCY WARS…\r\n\r\nThere are currency wars all over the G7. As soon as someone states currency wars to a central banker or government official they go into “bull / camel or cow sh*t” mode.\r\n\r\nThe U.S. started this by accusing China of manipulation, yet the FED is the largest manipulator on the planet.\r\n\r\nLed by the FED we have Quantitative Easing (QE) of sorts in the UK (Asset Purchase Facility), the ECB and BOJ also have QE. The SNB intervene although they never tell you directly they are intervening and finally the RBNZ says that they have intervened and that they would be proud to do it again.\r\n\r\nCURRENCY WARS are happening, all day everyday and for the longer-term they are here to stay and they are getting more intense.\r\n\r\nLets look at the last 10 days.\r\n\r\nMario Draghi took to the floor for a speech in Frankfurt on November 20th after an early speech he made had weakened the EUR/USD, however it did not sustain its fall and bounced back. Not put off and with severe inflation… sorry DEFLATION issues in the Eurozone he took to the floor and basically gave a speech, which made you, believe that if you owned the EUR you should be committed immediately. The floor fell through the EUR/USD and it has not sustained any bounce since. It is holding levels well within striking distance of new 52-week lows.\r\n\r\nIn no uncertain terms he made it abundantly clear that he was going to use all the tools available to him to further weaken the single currency.\r\n\r\nHere were the key points he referred to: -\r\n<ul>\r\n	<li>Inflation in the Eurozone is slipping fast.</li>\r\n	<li>There is too much slack in the Eurozone economy.</li>\r\n	<li>The effect of lower oil process is keeping inflation low.</li>\r\n	<li>He is looking to increase / expand the current €1.1 trillion QE program.</li>\r\n	<li>The ECB is thinking of moving the overnight deposit rate paid by the ECB further below zero in an attempt to force central banks to place more money into the economy.</li>\r\n	<li>Core inflation excluding energy and food is still too weak.</li>\r\n	<li>No real wage growth.</li>\r\n</ul>\r\nIn fairness you cannot get a simpler more direct speech about the intentions of a central banker. Had the EUR/USD bounced I would have seriously questioned trading currencies. Having read all of Draghi’s recent statements, I understand the need for Forex analysts to be contrarian to grasp attention all these traders calling contrarian moves, I get it, but sometimes FUNDAMENTALS are so powerful TECHNICALS can take second place. This only ever happens about 5% of the time; this has been one of the 5% occasions.\r\n\r\nAll the calls for a EUR/USD squeeze, I get it but sometimes you just have to give in. All the huffin’ and puffin’ ain’t gonna move the EUR/USD at the moment. It looks dead in the water waiting for Draghi and the press conference on December 3<sup>rd</sup>. Maybe then we may see a sell the rumour buy the news, who knows, but for now there is no Lazarus effect.\r\n\r\nDraghi’s jawboning has had a knock-on effect.\r\n\r\nThe SNB had to act given what the ECB are about to undertake. I have no doubt that Thomas Jordan has a very good (maybe 100%) idea what is on the table for the ECB to debate about possible implementation and about 80% knowledge about what is a green for go.\r\n\r\nIt’s all about equilibrium and having the edge as a central bank. They need and desire to maintain the status quo because as one moves basically a domino effect takes hold and the rest assess and decide. Ultimately they move on interest rates or now that interest rates are almost at 0% around the G7, the next route is to ease through QE or an equivalent.\r\n\r\nCountries who export goods need to be competitive and full employment desires mean that finished goods must be sold to keep people in jobs. Exchange rates are a vital component of pricing, hence the importance of manipulation in the Forex markets and why with a global recession hanging over the world like the sword of Damocles means pricing must be competitive to ensure full employment…. It is a constant circle of life.\r\n\r\nThe SNB have not finished, like every other country they want a weak currency to enable cheaper exports. Also due to their banking background of neutrality being a safe haven, they introduced a deposit tax for lodgments in Swiss banks to discourage leaving money in Swiss accounts, which created CHF strength. They will increase the costs to deposit funds in a further attempt to weaken the currency by making even less of an attractive proposition to hold.\r\n\r\nThis is not QE but it is currency manipulation and it is most definitely part of the on-going currency war.\r\n\r\nWhat else will the SNB do? It all depends on what the ECB implement and for how long later this week.\r\n\r\nThe BOJ were not allegedly up for more QE. Rumours are circulating once again that after the FED and ECB action in December they will review once again to see if they need to extend their program.\r\n\r\nWhere does this leave the commodity currency countries like Australia, Canada and New Zealand? In my opinion, they will all cut rates. Housing bubbles or not, they will review lending criteria to try to manage the housing bubbles. They will cut rates to try and promote spending, full employment, growth and restore consumer confidence amongst other things.\r\n\r\nIn my opinion, the currency wars are intensifying and gathering pace.\r\n\r\n&nbsp;\r\n\r\n<strong> </strong>\r\n<ol start=\"3\">\r\n	<li><strong> THE PREMIUM SERVICE:</strong></li>\r\n</ol>\r\n3.1: SUMMARY OF YEAR TO DATE PERFORMANCE - 2015:\r\n\r\nPREMIUM SERVICE – COST INCOME ANALYSIS (USD):\r\n<p style=\"text-align: center;\">PROFITS FROM TRADES COMPLETED THIS YEAR – to November 28th 2015.</p>\r\n<p style=\"text-align: center;\">MICRO LOT TRADER - 659 trades cost to trade = $65.90\r\n<strong>PROFIT</strong> from 659 trades = <strong>$1,299.80\r\nNET Pips of PROFIT = 12,998\r\n</strong>(You spend $65.90 on trades and your gross return is $1,299.80)</p>\r\n<p style=\"text-align: center;\">MINI LOT TRADER - 659 trades cost to trade = $659.00\r\n<strong>PROFIT</strong> from 659 trades = <strong>$12,998.00\r\n</strong><strong>NET Pips of PROFIT = 12,998\r\n</strong>(You spend $659.00 on trades and your gross return is $12,998.00)</p>\r\n<p style=\"text-align: center;\">STANDARD LOT TRADER - 659 trades cost to trade = $6,590.00\r\n<strong>PROFIT</strong> from 659 trades = <strong>$129,980.00\r\n</strong><strong>NET Pips of PROFIT = 12,998\r\n</strong>(You spend $6,590.00 on trades and your gross return is $129,980.80)</p>\r\n<p style=\"text-align: center;\">The profit levels above are based on single lot trades only; obviously if you trade with two lots the returns double and so on…………</p>\r\n<p style=\"text-align: center;\"></p>\r\nNOTES:\r\n<ul>\r\n	<li>If the above return from Forex Trading interests you go to my website landing page at <a href=\"http://www.weeklyfxdrivethru.com\">weeklyfxdrivethru.com</a> and check out the subscription options and special promotions under the tabs “PREMIUM SERVICE” and “PROMOTIONS”</li>\r\n	<li>If you want more data about the performance and my website does not answer your questions, contact me directly and I will supply the data you require.</li>\r\n	<li>THE PREMIUM SERVICE has subscribers with broker accounts of sizes ranging from $2,500 to over $100,000. A profitable trade is a profitable trade. It is all about trading according to the size of your broker account with EFFECTIVE POSITION SIZING and applying RISK MANAGEMENT principles at all times</li>\r\n</ul>\r\n&nbsp;\r\n\r\n3.2: DIVERGENT FUNDAMENTAL TRADES:\r\n\r\nOver recent weeks I have alerted subscribers to the FREE NEWSLETTER (this version of the WEEKLY FX DRIVE THRU), that since September I have been developing longer-term trades based upon central bank monetary policy divergence.\r\n\r\nThese trades went LIVE with my PREMIUM SERVICE subscribers in early November. In the month of November the total number of pips generated from this type of trade alone was 1,966.\r\n\r\nIf you are new to Forex Trading, maybe not even a trader at the moment but you are interested in generating another source of income, adding $$$$ to your family income, or maybe an existing trader looking to diversify and add an additional income stream. Then check out my website <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a> on the landing page at the top there are a number of tabs.\r\n\r\n<u>PREMIUM SERVICE</u> – provides an overview and history of the PREMIUM SERVICE together with performance analysis.\r\n\r\n<u>PART-TIME TRADERS</u> – sets out goals and objectives about DIVERGENT FUNDAMENTAL TRADES as well as the history as to how they came into being.\r\n\r\nShould you have any questions at all concerning these subjects do not hesitate to contact me.\r\n\r\n&nbsp;\r\n\r\n3.3: PREMIUM SERVICE – 2015 PERFORMANCE TO DATE:\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/PS-PROFITS1-28112015.png\"><img class=\"aligncenter size-full wp-image-6880\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/PS-PROFITS1-28112015.png\" alt=\"PS PROFITS1 28112015\" width=\"523\" height=\"420\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/PS-PROFITS2-28112015.png\"><img class=\"aligncenter size-full wp-image-6881\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/PS-PROFITS2-28112015.png\" alt=\"PS PROFITS2 28112015\" width=\"533\" height=\"415\" /></a>\r\n\r\n&nbsp;\r\n\r\n3.4: PREMIUM SERVICE – 2014 TOTAL PERFORMANCE:\r\n\r\n<strong> <a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/PS-PROFITS-2014.png\"><img class=\"aligncenter size-full wp-image-6791\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/PS-PROFITS-2014.png\" alt=\"PS PROFITS 2014\" width=\"529\" height=\"487\" /></a></strong>\r\n\r\n&nbsp;\r\n\r\n<strong> </strong>\r\n<ol start=\"4\">\r\n	<li><strong> PREMIUM SERVICE (GOLD) EXCLUSIVE CONTENT:</strong></li>\r\n</ol>\r\n(This area contains exclusive content for PREMIUM SERVICE (GOLD) subscribers)\r\n\r\n&nbsp;\r\n\r\n4.1: THE PREMIUM SERVICE – TRADING REVIEW:\r\n\r\n(A look back at the past week’s highs and lows from trades undertaken and a look around at other relevant subscriber information):\r\n\r\nThis has been a great trading month, the best since the PREMIUM SERVICE started. There is still one more day to go and so far there has been 3,140 pips of profit added to the annual performance.\r\n\r\nI am holding two longer-term trades, essentially both are being treated as FUNDAMENTAL in my mind, namely long the EUR/CHF and EUR/NZD.\r\n\r\nEverything else is fairly routine as we head into crunch / decision time with “dithering Janet” and “cool hand Mario”.\r\n\r\nMy action plan from now until the year-end is straightforward and uncomplicated. I want to be long the USD going into the FED meeting. I am not too worried about the ECB meeting, it will be what it is but I do want to have my USD/CHF and EUR/USD trades in position ready to go.\r\n\r\nAt the moment I have additional CHF trades already loaded as LIMIT ORDERS for both RADAR and FUNDAMENTAL trades. The only pairs that I have to re-visit regarding the CHF are the CAD/CHF and NZD/CHF.\r\n\r\nMoving forward in the belief that the FED raises and the ECB adds more easing by the year end, I expect to have about 25% of my FUNDAMENTAL trades in position, with maybe some additional trades stacked as limit orders.\r\n\r\nRADAR and FLASH trades should be at zero by Christmas ready to pick up in January once again. The next WEEKLY FX DRIVE THRU after this one is scheduled for January 10<sup>th</sup> 2016.\r\n\r\nThroughout December as trades move in and out I will be active on twitter. It is only the blog that will disappear. After the FED I will be on vacation until after the New Year celebrations are over then I will be charging up ready to go after January 10<sup>th</sup> 2016.\r\n\r\nI am not looking at more charts at the moment, I will do this from Monday onwards. I want to review after the weekend has passed.\r\n\r\n&nbsp;\r\n\r\n4.2: THE DIVERGENT CB MONETARY POLICY – FUNDAMENTAL TRADES:\r\n\r\n1,966 pips from these trades this month, so far. I am delighted with the start and we are only just getting going. I have added my trading strategy on these trades to my TRADE PLAN. It still needs a little fine-tuning but next year it will become very clear about the trading tactics that I am proposing. I just need the central banks to play ball over the next two weeks.\r\n\r\nIf you are trading this style of trade I will be active (I think) quite a bit through the Christmas break.\r\n\r\n&nbsp;\r\n\r\n4.3: CHANGES TO MY PREFERRED FX BROKER LINEUP:\r\n\r\nMy new broker relationships to be advertised on my DRIVE THRU website, Hantec Markets and Vantage FX, will both soon have their banners on the website landing page along with my existing three FX brokers, Blackwell Global, AvaTrade and FX Pro.\r\n\r\nIf anyone would like to open an additional trading account prior to the banners being launched from these new brokers just contact me.\r\n\r\n&nbsp;\r\n\r\n4.4: REVISIONS TO TRADE STYLE DEFINITIONS:\r\n\r\nAs I am now adding what I hope to be longer-term trades based upon “Divergent Central bank Policy” to the PREMIUM SERVICE, I think it is time to re-address the trade styles.\r\n\r\nA couple of you wanted to add a 4<sup>th</sup> trade style to cover these new trades. Instead of doing this I think its easier just to simplify what is there at the moment as follows: -\r\n\r\nFLASH TRADES:\r\n\r\nOpportunist trades in LIVE market conditions. These trades are either based off a pullback strategy, a GIMME10 strategy, or off momentum in a trading pair at the time of entry.\r\nThe goal is to either take 10-30 pips or see a sufficient move to place a protective stop in place to see if a swing trade develops.\r\nSome FLASH TRADES may form part of an overall trading plan with a given currency pair, but the entry could not be made via a LIMIT ORDER.\r\nRADAR TRADES:\r\n\r\nThese a pre-meditated entry trades set from either Fibonacci levels, pivot points or previous support and resistance based off a combination of horizontal or trend line support or resistance.\r\nThe goal is always if possible to swing trade these trades by establishing a position that if market conditions apply allow the trade to gather traction and develop into a longer-term position trade.\r\n\r\n&nbsp;\r\n\r\nFUNDAMENTAL TRADES:\r\n\r\nThese will be trades based off my TRADING PLAN goals for trades in line with my longer-term market views.\r\nTrades in this area will use in addition Fibonacci levels, Pivot points, trend lines and prior support and resistance levels, weekly and monthly ATR’s (Average True Ranges) when setting Stop Loss levels.\r\nThese trades are hopefully of a longer-term nature. They will be initially “single-lot” sized trades due to the wider stop placements that will be applied.\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n4.5: MAJOR TRADING PAIRS WITH LONGER-TERM MATCHING TRENDS:\r\n\r\n(The following currency pairs have Short Term (DAILY), Medium Term (WEEKLY) and Long Term (MONTHLY) charts all trending in the same direction).\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/TRENDING-PAIRS-28112015.png\"><img class=\"aligncenter size-full wp-image-6891\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/TRENDING-PAIRS-28112015.png\" alt=\"TRENDING PAIRS 28112015\" width=\"489\" height=\"621\" /></a>\r\n\r\n&nbsp;\r\n\r\n4.6: THE PREMIUM SERVICE - LIVE TRADES ARE:\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/LIVE-TRADES-28112015.png\"><img class=\"aligncenter size-full wp-image-6890\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/LIVE-TRADES-28112015.png\" alt=\"LIVE TRADES 28112015\" width=\"699\" height=\"550\" /></a>\r\n\r\n&nbsp;\r\n\r\n4.7: THE PREMIUM SERVICE – LIMIT ORDER TRADES ARE:\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/LIMIT-ORDERS-28112015.png\"><img class=\"aligncenter size-full wp-image-6889\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/11/LIMIT-ORDERS-28112015.png\" alt=\"LIMIT ORDERS 28112015\" width=\"688\" height=\"434\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n4.8: POTENTIAL TRADES - WHAT PAIRS / CHARTS AM I LOOKING AT?\r\n\r\nThere are no additional charts this week.\r\n\r\n<strong> </strong>\r\n\r\n<strong> </strong>\r\n<ol start=\"5\">\r\n	<li><strong> MY FINAL THOUGHTS:</strong></li>\r\n</ol>\r\nOVERVIEW OF TRADING TIPS &amp; THOUGHTS FOR THE WEEK AHEAD:\r\n\r\nThis is it the final WEEKLY FX DRIVE THRU blog of 2015. Apart from a year-end teaser marketing campaign to add subscribers to my fee-paying service I should be under the radar until January 10th 2016 when the first blog of 2016 is scheduled to appear.\r\n\r\nOver the next two weeks or so, in my opinion we have two central bank meetings that will determine many Forex trading plans for 2016. Should the ECB and / or the Fed dither on what is widely expected to now happen, all bets are off and I, like many other traders will have to once again re-assess the situation.\r\n\r\nNow being positive… I think it’s as good as saying hell would freeze over if the FED didn’t raise rates, in my opinion only an absolute disastrous NFP this Friday could cause a non rate increase. The ECB are in good hands with Mario Draghi; finally, he couldn\'t give a rats hairy a** about poor German policy ideas to fix the Eurozone. He has “seen the light” as Todd Rundgren would sing, and Merkel is “on the beaches sucking on the peaches” as the Stranglers once sang. The ECB will ease further Draghi has said so.\r\n\r\nThis week and next week is huge on news from central banks other than the ECB. I think that the RBA are 60/40 to keep rates on hold and the BOC should be 90/10 to cut rates in my opinion.\r\n\r\nIn addition to central bank news we have NFP, ADT, GDT, GDP data, PMI data and Business Confidence. The entire spectrum of economic data is represented this week.\r\n\r\nTrade lean and remain keen – that means trade with smaller positions with wider stops and be alert to moves. Markets will now start to thin out and the larger institutions will be starting to close positions and reduce sizes in readiness to close books to be ready to start clean and fresh in 2016.\r\n\r\nAll I have to do is wish all readers, followers, and subscribers…\r\n\r\nA Happy Christmas / Happy Holidays and lets look to bringing a bit of peace and sanity back into this planet next year.\r\n\r\nThanks everyone have a good one,\r\n\r\nTake care,\r\n\r\nScott Pickering\r\nThe Pip Accumulator\r\n<a href=\"https://weeklyfxdrivethru.com/disclaimer/\">https://weeklyfxdrivethru.com/disclaimer/\r\n</a>BLOG #83','THE CURRENCY WARS ARE GATHERING PACE','','inherit','closed','closed','','6902-revision-v1','','','2015-11-28 14:49:59','2015-11-28 19:49:59','',6902,'https://weeklyfxdrivethru.com/6902-revision-v1/',0,'revision','',0),