(5963,1,'2015-05-08 21:42:09','2015-05-09 02:42:09','<p style=\"text-align: center;\"><strong>THE PREMIUM SERVICE\r\n</strong><strong>The Home of Single-Lot Trading\r\nwww.weeklyfxdrivethru.com</strong></p>\r\n<strong>DATE: 10.05.2015\r\nREFERENCE: #152\r\n</strong><strong>BLOG: THE WEEKLY FX DRIVE THRU</strong>\r\n\r\n&nbsp;\r\n<ol>\r\n	<li><strong> INTRODUCTION - MY OVERVIEW OF THE FOREX MARKET:</strong></li>\r\n</ol>\r\n<u>LOOKING BACKWARDS, FORWARDS &amp; SIDEWAYS (FOR GOOD MEASURE) AT THE FX MARKET:</u>\r\n\r\n<u>1.1 - LOOKING BACKWARDS:</u>\r\n\r\nI wrote last week about the USD index, and question is it too early to write off the USD.\r\n\r\nIn my opinion the jury is still out, however, I am starting to “wobble a little” on the DXY. It really needs to show its teeth prior to the FED hiking U.S. interest rates, which could now be in September / October.\r\n\r\nWe had a very interesting week in the Forex market last week, but in my opinion two events stood out from the rest.\r\n\r\n<u>RBA RATE STATEMENT:</u>\r\n\r\nIn the wee hours of Tuesday morning (EDT) last week, the RBA cut interest rates by 0.25% to record lows for Australia. To celebrate this fact, those bloody Aussies sent the AUD/USD higher instead of lower on the back of the rate cut. This directional anomaly was based on the fact that Glenn Stevens basically stated that after this rate cut the RBA was moving policy to neutral…”no more cuts”… bugger.\r\n\r\nThe AUD/USD rallied to 0.8000, I am still trying to work out when I got up the next morning why I didn’t short it from those highs. In any event another central bank has stated “no more” with regards to further interest rate cuts. As the Irish would say, with their well known double negative statement…. “Yeah right!” and with my Liverpool sense of humour, I would add “Yeah right my ar*e!”.\r\n\r\nWe are in a currency war. Central Bank governors want their exchange rates lower to remain competitive; they know that they just cannot achieve their target exchange rates by jawboning alone. Rate cuts will continue to feature.\r\n\r\nIn my opinion the commodity based countries in general not just Australia have it the hardest when there is little worldwide consumer demand. It is all very well having low inflation, but growth is required, and, many countries face potential housing bubbles just to make matters more interesting, so cutting rates can fuel the housing bubbles. It is a fine line. Is a housing bubble a risk worth taking? We will soon find out.\r\n\r\n<u>UK GENERAL ELECTION:</u>\r\n\r\nWow.\r\n\r\nI got it completely wrong; in fact, I have not seen a single review of the expected result that said that the Conservatives would win with an overall majority.\r\n\r\nThe BBC and SKY NEWS exit polls were released at the daily open/close cross-over at 5.00PM (EDT) last Thursday. I was stuffed with my GBP/JPY and GBP/USD shorts that were open at the time. I had a number of SELL STOP orders in position as well, which I cancelled straight away as I absorbed the news.\r\n\r\nIt has been a long, long time since I can recall so many opinion polls running up to voting day that were in almost complete agreement as to the outcome. They all got it not just slightly wrong but completely ass-ways in comparison to the exit polls that were conducted earlier on voting day.\r\n\r\nI would say that at a lot of people lost money at 5.00PM but made it back in the following 5/6 hours until the GBP/USD hit its limit at 1.5520. This, I suppose is what makes Forex Trading so exciting and annoying at the same time. My whole train of thought was buying the GBP/USD on a dip towards 1.4850. A move to 1.5500 never entered my head.\r\n\r\n&nbsp;\r\n\r\n<u>GEOPOLITICAL EVENTS:</u>\r\n\r\n<u>GREECE:</u>\r\n\r\nI do not want to sound like a broken record but…….. It’s still going….\r\n\r\nAllegedly, Varoufakis is claiming that an agreement with its creditors is due almost daily. Not wanting to repeat myself but “Yeah right my ar*e”.\r\n\r\nHe has to say this to keep the markets as calm as possible, now he could be telling the truth, but “Yeah right, my ar*e”. Am I too cynical?\r\n\r\nI still think that the only way for GREECE to move forward and get this f**king monkey off its back is to declare itself bankrupt and default. That should bring in some volatility.\r\n\r\nI bet even now in 2015 we still have not got 100% transparency on what countries and banks are in for a hiding should GREECE default. I have seen the official list and I published this in this blog a few weeks ago.\r\n\r\nFrankly, I do not believe a damn thing anymore. GREECE was supposed to be out of cash weeks ago and could not pay any bills at all, yet here we are today still writing about it.\r\n\r\n&nbsp;\r\n\r\n<u>1.2 - LOOKING FORWARDS:</u>\r\n\r\n<u>MAJOR FOREX NEWS THIS WEEK THAT INTERESTS ME:</u>\r\n\r\n<u>(There are many more news items related to the Forex Market than the ones listed below. These are the ones that interest me. You can go to </u><a href=\"http://www.forexfactory.com\">www.forexfactory.com</a><u> and </u><a href=\"http://www.tradingeconomics.com\">www.tradingeconomics.com</a><u> for more comprehensive lists of all news events that are Forex related).</u>\r\nSUNDAY: AUD – NAB Business Confidence.\r\n\r\nMONDAY: GBP – BOE Bank Rate.\r\n\r\nTUESDAY: AUD – Annual Government Budget Release.\r\nTUESDAY: NZD – RBNZ financial Stability Report.\r\nTUESDAY: NZD – Graeme Wheeler speaks.\r\nTUESDAY: AUD – Retail Sales.\r\n\r\nWEDNESDAY: GBP – Employment Data.\r\nWEDNESDAY: GBP – BOE Inflation Report.\r\nWEDNESDAY: GBP – BOE Mark Carney speaks.\r\nWEDNESDAY: USD – Core Retail Sales and Retail Sales.\r\n\r\nTHURSDAY: N/A.\r\n\r\nFRIDAY: N/A.\r\n\r\n&nbsp;\r\n\r\n<u>1.3 - LOOKING SIDEWAYS (FOR GOOD MEASURE):\r\n</u>\r\n\r\n<u>FOREX MARKET CONDITIONS:</u>\r\n\r\nThe equity markets seem to be extremes and this causes “freaky” moves from time to time in the currency markets. These moves that we sometime see that make little sense at the time are sparked off many times by pure trivia.\r\n\r\nAt the moment we have OIL at the crossroads; does it move lower or higher next. Does supply and demand really matter in that market? I am sure that, that question is being asked many, many times.\r\n\r\nWe also have the GREECE situation, which, the longer it goes on unresolved means that the crisis looms closer and closer.\r\n\r\nBoth OIL and GREECE cause rapid-fire movements in the USD and this exacerbates throughout. There is absolutely nothing that we can do except be conscious of these issues. But, frankly, what can we do?\r\n\r\n&nbsp;\r\n<ol start=\"2\">\r\n	<li><strong><u> WHAT’S ON MY MIND: -\r\nTHE FUNDAMENTAL TRADERS OVERVIEW:</u></strong></li>\r\n</ol>\r\n<p style=\"text-align: center;\"><strong>WHY IS THE FX MARKET GIVING MIXED SIGNALS?</strong></p>\r\nI wrote last week about how the Forex Market has thrown many curve balls at us traders this year, and, it got me thinking.\r\n\r\nOne piece of data that I provide to the PREMIUM SERVICE subscribers in their version of this blog each week looks at Forex TRENDING with the same 27 Forex Trading pairs reviewed each week.\r\n\r\nBasically, I provide an excel spread sheet detailing which of the 27 pairs have the longer term interval charts (DAILY, WEEKLY and MONTHLY) all moving in the same direction, whether is be long or short.\r\n\r\nI recall at one stage in my trading development that I would only trade in the direction of the longer-term trends and if all three charts did not line up in the same direction, I would not take the trade. This became criteria for trading in one of my earlier TRADING PLANS.\r\n\r\nOf late, I have removed this feature from my TRADING PLAN, but everyday I refer to what I call my DIRECTIONALS. I believe that it gives me an edge, more confidence in placing a trade knowing that the trend is behind me.\r\n\r\nSeven years or so ago, when I first started trading, there were huge consistencies amongst the pairs;\r\n\r\ne.g.\r\n\r\nThe AUD/CAD, EUR/CAD, GBP/CAD and USD/CAD would all be trading in the same direction. If one pair was bearish they were all bearish. Most of the time this is still true today but of late this has altered.\r\n\r\nOften times the USD/CAD can be long sided trend and the EUR/AUD and GBP/AUD be a short-sided trade. When you consider this has to take into consideration the fact that we are looking for all three charts to line up in the same direction. The fact that one set can be so diverse poses some questions.\r\n\r\nBelow, I show the excel sheets that are saved from THE WEEKLY FX DRIVE THRU (PREMIUM SERVICE VERSION) blogs from previous weeks were currency pairs trending long or short for the three longer time framed charts are listed.\r\n\r\n5<sup>th</sup>, 12<sup>th</sup>, 19<sup>th</sup>, 26<sup>th</sup> April plus 3<sup>rd</sup> and 10<sup>th</sup> May 2015. The last six weeks of charts.\r\n\r\nOut of 27 pairs the charts tell you how many pairs are trending. If a currency pair is not there then it had mixed signals.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/ART2-05042015.png\"><img class=\"aligncenter size-full wp-image-5922\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/ART2-05042015.png\" alt=\"ART2 05042015\" width=\"391\" height=\"388\" /></a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/ART2-12042015.png\"><img class=\"aligncenter size-full wp-image-5923\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/ART2-12042015.png\" alt=\"ART2 12042015\" width=\"394\" height=\"455\" /></a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/ART2-19042015.png\"><img class=\"aligncenter size-full wp-image-5924\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/ART2-19042015.png\" alt=\"ART2 19042015\" width=\"399\" height=\"342\" /></a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/ART2-26042015.png\"><img class=\"aligncenter size-full wp-image-5925\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/ART2-26042015.png\" alt=\"ART2 26042015\" width=\"399\" height=\"356\" /></a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/ART2-03052015.png\"><img class=\"aligncenter size-full wp-image-5926\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/ART2-03052015.png\" alt=\"ART2 03052015\" width=\"395\" height=\"378\" /></a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/ART2-10052015.png\"><img class=\"aligncenter size-full wp-image-5927\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/ART2-10052015.png\" alt=\"ART2 10052015\" width=\"387\" height=\"340\" /></a>\r\n\r\n&nbsp;\r\n\r\nBack in 2007-8, it was a consistent 50% -75% each and every week. Of late you can see that we are under 40% each week.\r\n\r\nFrom my perspective, this shows as well as the obvious lack of trend and direction within a currency pair, but also the fact the raised levels of volatility and swift moves are being reflected in these longer-term charts.\r\n\r\nWhat does it mean?\r\n\r\nDoes it affect our trading behavior?\r\n\r\nWell, it means as I have already eluded to that we have an issue of lack of directional trading, and the “trend is your friend” really does not come into play when placing a trade.\r\n\r\nTrading psychology in my opinion is huge, and it is often forgotten about as we plough through our daily routines. Sub consciously however; our minds are being messed with. I am not saying that my mind casts its way back to my latest excel spreadsheet but it must resonate somewhere as I have these charts displayed on one of my monitors.\r\n\r\nWhat I am saying is that the more pairs that display mixed trends the more volatility there is for us as traders to content with. Plus the more divergences there are within a given set of matching currency related pairs the more difficult it is to trade.\r\n\r\nRecently we have seen EUR/USD and GBP/USD moving lower with USD strength but the commodity currencies AUD/USD and NZD/USD moving higher in the opposite direction. We have both dollar strength pairs and dollar weakness pairs all within the USD majors.\r\n\r\nIn this instance how does the commodity cross-rates behave? Sometimes these can be great to trade believe it or not, look below: -\r\n\r\nGBP/USD acting with USD strength - GBP selling and USD buying.\r\nAUD/USD acting with USD weakness – AUD buying and USD selling.\r\n\r\nGBP/AUD would be a great short given 100% harmony with the above, ultimate powerful moves.\r\n\r\n&nbsp;\r\n\r\nUSD/CAD acting with USD weakness – USD selling and CAD buying,\r\n\r\nAUD/CAD – this is now mixed from GBP/AUD. Because both commodity currencies are being bought in exchange for the USD.\r\n\r\nThis divergence can affect the moves in other cross-rates and what could be a great potential trade turns out to be one of frustration and annoying.\r\n\r\nI have written in the past about divergences and correlations, most of the time these articles are contained within the EDUCATION TAB inside my subscriber website.\r\n\r\nSo why are we getting mixed signals.\r\n\r\nSimply; FEAR, GREED and UNCERTAINTY in the markets. I can elaborate at great length but it all falls back to these three words.\r\n\r\nEquity markets are at extremes. Central Banks are providing so much liquidity that company valuations based on the relationship to its stock price are over-valued or very close to. Equities are the only place in a zero interest rate environment to see a return. We have been in one-sided markets for so long.\r\n\r\nThe retail buyer is in hiding; companies are heavily buying its own stock to improve its EPS but at the same time there are no sales for the top line income on the balance sheet, and, as a result, is under-performing. Consumer Confidence, Manufacturing PMI data is very mixed, some would say weak at best, and, this feeds FEAR, GREED and UNCERTAINTY.\r\n\r\nThus: - we have mixed messages and mixed signals in the FX market.\r\n\r\n&nbsp;\r\n<ol start=\"3\">\r\n	<li><strong><u> THE PREMIUM SERVICE:\r\n\r\n</u></strong></li>\r\n</ol>\r\n<strong><u>SUMMARY OF PERFORMANCE:</u></strong>\r\n\r\n<u>3.1 – OVERVIEW and SUBSCRIPTION OPTIONS, FEATURES and PRICING:</u>\r\n\r\nFor new readers who may not be aware, I refer to the PREMIUM SERVICE quite a lot in this blog and for more details about what it is, and, how much it costs, you will need to go the welcome page of <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a>\r\n\r\nAt the top of my welcome page there are three drop down menus: -\r\n\r\nPREMIUM SERVICE PROMOTIONS (if available)\r\nSIGN-UP\r\nDISCLAIMER\r\n\r\nFurther details and how to join are all contained there. You will need at PayPal account to subscribe.\r\n\r\nBelow I provide the details of GOLD and SILVER subscription options and pricing.\r\n\r\nIf at the time of posting this blog the SILVER option is not finalized on my website and you wish to purchase this please contact me via my email address at the end of the blog and I will manually set up the subscription.\r\n\r\n<u>GOLD MEMBER SUBSCRIPTION FEATURES &amp; PRICING OPTIONS:\r\n\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\">weeklyfxdrivethru.com</a></li>\r\n	<li>A dedicated exclusive twitter feed for GOLD MEMBER subscribers only @ThePremService.</li>\r\n	<li>All trade set-ups communicated via Twitter and RADAR and FUNDAMENTAL trades additionally via email when possible.</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\">weeklyfxdrivethru.com</a></li>\r\n	<li>My thoughts and comments on market conditions via twitter and/or email.</li>\r\n</ul>\r\nGOLD MEMBER SUBSCRIPTION OPTION PRICING:\r\n(Please note that PayPal works in months NOT weeks)\r\n\r\n10 weeks / 3 months:               $295.00\r\n\r\n20 weeks / 6 months:               $495.00\r\n\r\n40 weeks / 12 months:             $795.00\r\n\r\n&nbsp;\r\n\r\n<u>SILVER MEMBER SUBSCRIPTION FEATURES &amp; PRICING OPTIONS:\r\n\r\n</u>\r\n<ul>\r\n	<li>Simple 4 weekly (monthly) membership pricing.</li>\r\n	<li>A dedicated exclusive twitter feed for SILVER MEMBER subscribers only @PremServSilver.</li>\r\n	<li>All my trade set-ups delivered to you via the SILVER MEMBER subscriber twitter feed @PremServSilver.</li>\r\n	<li>Access to the PREMIUM SERVICE website (relevant trade information only).</li>\r\n	<li>The “FREE NEWSLETTER” version of THE WEEKLY FX DRIVE THRU delivered weekly direct to you email inbox and viewable online at <a href=\"http://www.weeklyfxdrivethru.com\">weeklyfxdrivethru.com</a></li>\r\n</ul>\r\n&nbsp;\r\n\r\nSILVER MEMBER SUBSCRIPTION OPTION PRICING:\r\n(Please note that PayPal works in months NOT weeks)\r\n\r\n4 weeks / 1 month:                    $100.00\r\n\r\n&nbsp;\r\n\r\n<u>PLEASE NOTE:</u>\r\n\r\nFrom time to time special SUBSCRIPTION PROMOTIONS are offered. Check out the PROMOTIONS tab on my welcome page at <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a>\r\n\r\n&nbsp;\r\n\r\n<u>3.2 - SUMMARY OF PERFORMANCE:</u>\r\n\r\n(Only the excel spreadsheets will now be shown in this section. References to previous, present and future trades “LAST WEEK’s TRADING REVIEW” will now be provided solely for the benefit of PREMIUM SERVICE subscribers and has been moved into section 4).\r\n\r\n<u>3.2.1 – PREMIUM SERVICE – COST INCOME ANALYSIS:\r\n</u>\r\n<p style=\"text-align: center;\">EMANATING FROM TRADE SET-UPS - 2015 to date:</p>\r\n<p style=\"text-align: center;\"><u>MICRO LOT TRADER</u> - 326 trades cost to trade = $32.60\r\n<strong>PROFIT</strong> from 326 trades = <strong><u>$397.60</u></strong></p>\r\n<p style=\"text-align: center;\"><u>MINI LOT TRADER</u> - 326 trades cost to trade = $326.00\r\n<strong>PROFIT</strong> from 326 trades = <strong><u>$3,976.00</u></strong></p>\r\n<p style=\"text-align: center;\"><u>STANDARD LOT TRADER</u> - 326 trades cost to trade = $3,260.00\r\n<strong>PROFIT</strong> from 326 trades = <strong><u>$39,760.00</u></strong></p>\r\n<p style=\"text-align: center;\">If the above return from Forex Trading interests you go to\r\n<a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a> and check out the subscription options under the tab “PREMIUM SERVICE”.\r\nThe above performance above is based off single-lot trade sizes.\r\nTHE PREMIUM SERVICE has subscribers with broker accounts of sizes ranging from $2,500 to over $100,000.\r\nA profitable trade is a profitable trade it is all about trading according to the size of your broker account (EFFECTIVE POSITION SIZING) and applying RISK MANAGEMENT principles at all times.</p>\r\n<p style=\"text-align: center;\"></p>\r\n&nbsp;\r\n\r\n<u>3.2.2 - PREMIUM SERVICE - OVERALL TRADE SUMMARY MONTH &amp; YTD:</u>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/PREM-SERV-PROFITS1-10052015.png\"><img class=\"aligncenter size-full wp-image-5928\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/PREM-SERV-PROFITS1-10052015.png\" alt=\"PREM SERV PROFITS1 10052015\" width=\"461\" height=\"419\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/REM-SERV-PROFITS2-10052015.png\"><img class=\"aligncenter size-full wp-image-5929\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/REM-SERV-PROFITS2-10052015.png\" alt=\"REM SERV PROFITS2 10052015\" width=\"467\" height=\"425\" /></a>\r\n\r\n&nbsp;\r\n<ol start=\"4\">\r\n	<li><strong><u> PREMIUM SERVICE SUBSCRIBER EXCLUSIVE CONTENT:</u></strong></li>\r\n</ol>\r\n(Section 4 is exclusive PREMIUM SERVICE content only available to PREMIUM SERVICE subscribers)\r\n\r\n<u>4.1 - EDUCATION:\r\n</u>(The full list of all items and more from this section can be found in the PREMIUM SERVICE website in the Trade Essential area under the EDUCATION tab.)\r\n\r\n<u>4.2 – THE PREMIUM SERVICE – TRADING REVIEW:</u>\r\n\r\n<u>4.3 - THE PREMIUM SERVICE - EXISTING LIVE TRADES:</u>\r\n\r\n<u>4.4 - THE PREMIUM SERVICE – EXISTING LIMIT ORDERS:</u>\r\n\r\n<u>4.5 - POTENTIAL TRADES - WHAT CHARTS AM I LOOKING AT?</u>\r\n\r\n<u>4.6 - MAJOR TRADING PAIRS WITH LONGER-TERM TRENDS MATCHING:</u>\r\n\r\n<u>4.7 - THE KEY SUPPORT &amp; RESISTANCE LEVELS WITH THE USD MAJORS</u><strong><u>:\r\n\r\n</u></strong>\r\n\r\n&nbsp;\r\n<ol start=\"5\">\r\n	<li><strong><u> THE CONCLUSION - MY FINAL THOUGHTS:</u></strong></li>\r\n</ol>\r\n<u>5.1 - SUBSCRIBING TO THE “FREE VERSION” OF THE WEEKLY FX DRIVE THRU:</u>\r\n\r\nIf you like what you have almost completed reading and want to have THE WEEKLY FX DRIVE THRU delivered direct to your email inbox next week, here is what you do: -\r\n\r\nGo to my website: - <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a>\r\n\r\nOn the right hand side of the welcome page under my bio “about me” there is a blue box titled SUBSCRIBE TO FREE NEWSLETTER, click on profile and add your email address. It is as simple and straightforward as that.\r\n\r\nI do NOT sell your email data to anyone…do not worry...one less thing to worry about!<strong><u> </u></strong>\r\n\r\n<u>5.2 –TRADING TIPS &amp; THOUGHTS FOR THE WEEK AHEAD: </u>\r\n\r\nThis coming week is a major week for news.\r\n\r\nThe highlights for me being; Carney’s BOE Inflation Report, Wheelers fireside chat about all things RBNZ and USD Retail Sales. With the review of the U.S. data on TV, I just love it when the American pundits are so bullish when data is pure and simple crap. They believe if they talk louder it somehow makes the data improve. I just love it.\r\n\r\nAdded to the above economic data there is always GREECE news to keep us interested. Apparently, May 11<sup>th</sup> and May 12<sup>th</sup> are now the key dates. “Yeah right, my ar*e”.\r\n\r\nAs always, there will be trades to trade and there will be some great opportunities, please trade in line with your RISK MANAGEMENT parameters from your TRADING PLAN. If you do not have a TRADE PLAN, in my opinion, you should, as this will help you with consistency.\r\n<p style=\"text-align: center;\"><strong>Consistency = longevity in trading and that is a critical goal.\r\nIT IS THE KEY MEASUREMENT</strong></p>\r\nBefore you enter a trade work out the risk, price it in $$$. Place your stop accordingly. PREMIUM SERVICE subscribers have a full library of information on RISK MANAGEMENT, RISK TOLERANCES and POSITION SIZING etc. available for reference 24x7.\r\n\r\n&nbsp;\r\n\r\nTake care.\r\n\r\nScott Pickering\r\nThe Pip Accumulator\r\nSunday May10th 2015\r\n\r\nEMAIL / FOLLOW ME AT:\r\ndrivethru@weeklyfxdrivethru.com\r\nTwitter: @pipaccumulator\r\nGoogle+/scottpickering\r\nTumblr: thepipaccumulator\r\n\r\n<u>VIEWS AND COMMENTS IN THIS BLOG:</u>\r\n\r\nAll the comments and views expressed in my blog are my thoughts and ideas only. They are based on my FUNDAMENTAL views of the markets and my thoughts on the individuals concerned on how they manage positions in the public domain. In addition, I have my own thoughts and views about what I think goes on behind closed doors. You should NOT base any trade ideas on my thoughts and views alone. As I have said on many occasions in my blog, I am a FUNDAMENTAL trader first, then a TECHNICAL trader second using chart analysis to establish what I believe to be excellent trade entry positions. However, you must make up your own mind and trade at your own risk deciding if the entry levels I refer to actually meet with your views and thoughts. This makes complete sense as the risk in trading your account is 100% owned by you.\r\n\r\n<u>THIRD PARTY COMPANIES WITH BANNERS ON MY WEBSITE:</u><u> </u>\r\n\r\nThere are a small number of companies with banners on my website. In the interests of full disclosure I have a reciprocal business arrangement with these companies to promote their products. Unlike many of my competitors, I use the products and services provided by these companies. I will NOT allow any third party on my website unless I am 100% happy that they can back up their promise. By virtue of the fact, I work with these companies almost daily. I am more than confident to have them advertise on my website. Any reader who buys products or services from any advertiser via a banner on my website, <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a> will automatically have my help and assistance with any issues that they may have with my partnered advertisers.\r\n\r\n<u>TRADING &amp; PERFORMANCES DISCLAIMER:</u>\r\n\r\nFLASH, RADAR and FUNDAMENTAL trade set-ups, “Tweets” and “Trade ideas” that are posted in my blogs or on Twitter are trades and set-ups that interest me. They are provided for training and informational purposes only and should not be interpreted as an offer, solicitation or recommendation of any specific security or investment strategy. Past performance is not indicative of future results. Trading Forex carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to trade any such leveraged products you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with trading on margin, and seek advice from an independent financial adviser if you have any doubts.','WHY IS THE FX MARKET GIVING MIXED SIGNALS?','','inherit','open','closed','','5962-revision-v1','','','2015-05-08 21:42:09','2015-05-09 02:42:09','',5962,'https://weeklyfxdrivethru.com/5962-revision-v1/',0,'revision','',0),(5964,1,'2015-05-08 21:43:55','2015-05-09 02:43:55','<p style=\"text-align: center;\"><strong>THE PREMIUM SERVICE\r\n</strong><strong>The Home of Single-Lot Trading\r\nwww.weeklyfxdrivethru.com</strong></p>\r\n<strong>DATE: 10.05.2015\r\nREFERENCE: #152\r\n</strong><strong>BLOG: THE WEEKLY FX DRIVE THRU</strong>\r\n\r\n&nbsp;\r\n<ol>\r\n	<li><strong> INTRODUCTION - MY OVERVIEW OF THE FOREX MARKET:</strong></li>\r\n</ol>\r\n<u>LOOKING BACKWARDS, FORWARDS &amp; SIDEWAYS (FOR GOOD MEASURE) AT THE FX MARKET:</u>\r\n\r\n<u>1.1 - LOOKING BACKWARDS:</u>\r\n\r\nI wrote last week about the USD index, and question is it too early to write off the USD.\r\n\r\nIn my opinion the jury is still out, however, I am starting to “wobble a little” on the DXY. It really needs to show its teeth prior to the FED hiking U.S. interest rates, which could now be in September / October.\r\n\r\nWe had a very interesting week in the Forex market last week, but in my opinion two events stood out from the rest.\r\n\r\n<u>RBA RATE STATEMENT:</u>\r\n\r\nIn the wee hours of Tuesday morning (EDT) last week, the RBA cut interest rates by 0.25% to record lows for Australia. To celebrate this fact, those bloody Aussies sent the AUD/USD higher instead of lower on the back of the rate cut. This directional anomaly was based on the fact that Glenn Stevens basically stated that after this rate cut the RBA was moving policy to neutral…”no more cuts”… bugger.\r\n\r\nThe AUD/USD rallied to 0.8000, I am still trying to work out when I got up the next morning why I didn’t short it from those highs. In any event another central bank has stated “no more” with regards to further interest rate cuts. As the Irish would say, with their well known double negative statement…. “Yeah right!” and with my Liverpool sense of humour, I would add “Yeah right my ar*e!”.\r\n\r\nWe are in a currency war. Central Bank governors want their exchange rates lower to remain competitive; they know that they just cannot achieve their target exchange rates by jawboning alone. Rate cuts will continue to feature.\r\n\r\nIn my opinion the commodity based countries in general not just Australia have it the hardest when there is little worldwide consumer demand. It is all very well having low inflation, but growth is required, and, many countries face potential housing bubbles just to make matters more interesting, so cutting rates can fuel the housing bubbles. It is a fine line. Is a housing bubble a risk worth taking? We will soon find out.\r\n\r\n<u>UK GENERAL ELECTION:</u>\r\n\r\nWow.\r\n\r\nI got it completely wrong; in fact, I have not seen a single review of the expected result that said that the Conservatives would win with an overall majority.\r\n\r\nThe BBC and SKY NEWS exit polls were released at the daily open/close cross-over at 5.00PM (EDT) last Thursday. I was stuffed with my GBP/JPY and GBP/USD shorts that were open at the time. I had a number of SELL STOP orders in position as well, which I cancelled straight away as I absorbed the news.\r\n\r\nIt has been a long, long time since I can recall so many opinion polls running up to voting day that were in almost complete agreement as to the outcome. They all got it not just slightly wrong but completely ass-ways in comparison to the exit polls that were conducted earlier on voting day.\r\n\r\nI would say that at a lot of people lost money at 5.00PM but made it back in the following 5/6 hours until the GBP/USD hit its limit at 1.5520. This, I suppose is what makes Forex Trading so exciting and annoying at the same time. My whole train of thought was buying the GBP/USD on a dip towards 1.4850. A move to 1.5500 never entered my head.\r\n\r\n&nbsp;\r\n\r\n<u>GEOPOLITICAL EVENTS:</u>\r\n\r\n<u>GREECE:</u>\r\n\r\nI do not want to sound like a broken record but…….. It’s still going….\r\n\r\nAllegedly, Varoufakis is claiming that an agreement with its creditors is due almost daily. Not wanting to repeat myself but “Yeah right my ar*e”.\r\n\r\nHe has to say this to keep the markets as calm as possible, now he could be telling the truth, but “Yeah right, my ar*e”. Am I too cynical?\r\n\r\nI still think that the only way for GREECE to move forward and get this f**king monkey off its back is to declare itself bankrupt and default. That should bring in some volatility.\r\n\r\nI bet even now in 2015 we still have not got 100% transparency on what countries and banks are in for a hiding should GREECE default. I have seen the official list and I published this in this blog a few weeks ago.\r\n\r\nFrankly, I do not believe a damn thing anymore. GREECE was supposed to be out of cash weeks ago and could not pay any bills at all, yet here we are today still writing about it.\r\n\r\n&nbsp;\r\n\r\n<u>1.2 - LOOKING FORWARDS:</u>\r\n\r\n<u>MAJOR FOREX NEWS THIS WEEK THAT INTERESTS ME:</u>\r\n\r\n<u>(There are many more news items related to the Forex Market than the ones listed below. These are the ones that interest me. You can go to </u><a href=\"http://www.forexfactory.com\">www.forexfactory.com</a><u> and </u><a href=\"http://www.tradingeconomics.com\">www.tradingeconomics.com</a><u> for more comprehensive lists of all news events that are Forex related).</u>\r\nSUNDAY: AUD – NAB Business Confidence.\r\n\r\nMONDAY: GBP – BOE Bank Rate.\r\n\r\nTUESDAY: AUD – Annual Government Budget Release.\r\nTUESDAY: NZD – RBNZ financial Stability Report.\r\nTUESDAY: NZD – Graeme Wheeler speaks.\r\nTUESDAY: AUD – Retail Sales.\r\n\r\nWEDNESDAY: GBP – Employment Data.\r\nWEDNESDAY: GBP – BOE Inflation Report.\r\nWEDNESDAY: GBP – BOE Mark Carney speaks.\r\nWEDNESDAY: USD – Core Retail Sales and Retail Sales.\r\n\r\nTHURSDAY: N/A.\r\n\r\nFRIDAY: N/A.\r\n\r\n&nbsp;\r\n\r\n<u>1.3 - LOOKING SIDEWAYS (FOR GOOD MEASURE):\r\n</u>\r\n\r\n<u>FOREX MARKET CONDITIONS:</u>\r\n\r\nThe equity markets seem to be extremes and this causes “freaky” moves from time to time in the currency markets. These moves that we sometime see that make little sense at the time are sparked off many times by pure trivia.\r\n\r\nAt the moment we have OIL at the crossroads; does it move lower or higher next. Does supply and demand really matter in that market? I am sure that, that question is being asked many, many times.\r\n\r\nWe also have the GREECE situation, which, the longer it goes on unresolved means that the crisis looms closer and closer.\r\n\r\nBoth OIL and GREECE cause rapid-fire movements in the USD and this exacerbates throughout. There is absolutely nothing that we can do except be conscious of these issues. But, frankly, what can we do?\r\n\r\n&nbsp;\r\n<ol start=\"2\">\r\n	<li><strong><u> WHAT’S ON MY MIND: -\r\nTHE FUNDAMENTAL TRADERS OVERVIEW:</u></strong></li>\r\n</ol>\r\n<p style=\"text-align: center;\"><strong>WHY IS THE FX MARKET GIVING MIXED SIGNALS?</strong></p>\r\nI wrote last week about how the Forex Market has thrown many curve balls at us traders this year, and, it got me thinking.\r\n\r\nOne piece of data that I provide to the PREMIUM SERVICE subscribers in their version of this blog each week looks at Forex TRENDING with the same 27 Forex Trading pairs reviewed each week.\r\n\r\nBasically, I provide an excel spread sheet detailing which of the 27 pairs have the longer term interval charts (DAILY, WEEKLY and MONTHLY) all moving in the same direction, whether it be long or short.\r\n\r\nI recall at one stage in my trading development that I would only trade in the direction of the longer-term trends and if all three charts did not line up in the same direction, I would not take the trade. This became criteria for trading in one of my earlier TRADING PLANS.\r\n\r\nOf late, I have removed this feature from my TRADING PLAN, but everyday I refer to what I call my DIRECTIONALS. I believe that it gives me an edge, more confidence in placing a trade knowing that the trend is behind me.\r\n\r\nSeven years or so ago, when I first started trading, there were huge consistencies amongst the pairs;\r\n\r\ne.g.\r\n\r\nThe AUD/CAD, EUR/CAD, GBP/CAD and USD/CAD would all be trading in the same direction. If one pair was bearish they were all bearish. Most of the time this is still true today but of late this has altered.\r\n\r\nOften times the USD/CAD can be long sided trend and the EUR/AUD and GBP/AUD be a short-sided trade. When you consider this has to take into consideration the fact that we are looking for all three charts to line up in the same direction. The fact that one set can be so diverse poses some questions.\r\n\r\nBelow, I show the excel sheets that are saved from THE WEEKLY FX DRIVE THRU (PREMIUM SERVICE VERSION) blogs from previous weeks were currency pairs trending long or short for the three longer time framed charts are listed.\r\n\r\n5<sup>th</sup>, 12<sup>th</sup>, 19<sup>th</sup>, 26<sup>th</sup> April plus 3<sup>rd</sup> and 10<sup>th</sup> May 2015. The last six weeks of charts.\r\n\r\nOut of 27 pairs the charts tell you how many pairs are trending. If a currency pair is not there then it had mixed signals.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/ART2-05042015.png\"><img class=\"aligncenter size-full wp-image-5922\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/ART2-05042015.png\" alt=\"ART2 05042015\" width=\"391\" height=\"388\" /></a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/ART2-12042015.png\"><img class=\"aligncenter size-full wp-image-5923\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/ART2-12042015.png\" alt=\"ART2 12042015\" width=\"394\" height=\"455\" /></a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/ART2-19042015.png\"><img class=\"aligncenter size-full wp-image-5924\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/ART2-19042015.png\" alt=\"ART2 19042015\" width=\"399\" height=\"342\" /></a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/ART2-26042015.png\"><img class=\"aligncenter size-full wp-image-5925\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/ART2-26042015.png\" alt=\"ART2 26042015\" width=\"399\" height=\"356\" /></a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/ART2-03052015.png\"><img class=\"aligncenter size-full wp-image-5926\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/ART2-03052015.png\" alt=\"ART2 03052015\" width=\"395\" height=\"378\" /></a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/ART2-10052015.png\"><img class=\"aligncenter size-full wp-image-5927\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/ART2-10052015.png\" alt=\"ART2 10052015\" width=\"387\" height=\"340\" /></a>\r\n\r\n&nbsp;\r\n\r\nBack in 2007-8, it was a consistent 50% -75% each and every week. Of late you can see that we are under 40% each week.\r\n\r\nFrom my perspective, this shows as well as the obvious lack of trend and direction within a currency pair, but also the fact the raised levels of volatility and swift moves are being reflected in these longer-term charts.\r\n\r\nWhat does it mean?\r\n\r\nDoes it affect our trading behavior?\r\n\r\nWell, it means as I have already eluded to that we have an issue of lack of directional trading, and the “trend is your friend” really does not come into play when placing a trade.\r\n\r\nTrading psychology in my opinion is huge, and it is often forgotten about as we plough through our daily routines. Sub consciously however; our minds are being messed with. I am not saying that my mind casts its way back to my latest excel spreadsheet but it must resonate somewhere as I have these charts displayed on one of my monitors.\r\n\r\nWhat I am saying is that the more pairs that display mixed trends the more volatility there is for us as traders to content with. Plus the more divergences there are within a given set of matching currency related pairs the more difficult it is to trade.\r\n\r\nRecently we have seen EUR/USD and GBP/USD moving lower with USD strength but the commodity currencies AUD/USD and NZD/USD moving higher in the opposite direction. We have both dollar strength pairs and dollar weakness pairs all within the USD majors.\r\n\r\nIn this instance how does the commodity cross-rates behave? Sometimes these can be great to trade believe it or not, look below: -\r\n\r\nGBP/USD acting with USD strength - GBP selling and USD buying.\r\nAUD/USD acting with USD weakness – AUD buying and USD selling.\r\n\r\nGBP/AUD would be a great short given 100% harmony with the above, ultimate powerful moves.\r\n\r\n&nbsp;\r\n\r\nUSD/CAD acting with USD weakness – USD selling and CAD buying,\r\n\r\nAUD/CAD – this is now mixed from GBP/AUD. Because both commodity currencies are being bought in exchange for the USD.\r\n\r\nThis divergence can affect the moves in other cross-rates and what could be a great potential trade turns out to be one of frustration and annoying.\r\n\r\nI have written in the past about divergences and correlations, most of the time these articles are contained within the EDUCATION TAB inside my subscriber website.\r\n\r\nSo why are we getting mixed signals.\r\n\r\nSimply; FEAR, GREED and UNCERTAINTY in the markets. I can elaborate at great length but it all falls back to these three words.\r\n\r\nEquity markets are at extremes. Central Banks are providing so much liquidity that company valuations based on the relationship to its stock price are over-valued or very close to. Equities are the only place in a zero interest rate environment to see a return. We have been in one-sided markets for so long.\r\n\r\nThe retail buyer is in hiding; companies are heavily buying its own stock to improve its EPS but at the same time there are no sales for the top line income on the balance sheet, and, as a result, is under-performing. Consumer Confidence, Manufacturing PMI data is very mixed, some would say weak at best, and, this feeds FEAR, GREED and UNCERTAINTY.\r\n\r\nThus: - we have mixed messages and mixed signals in the FX market.\r\n\r\n&nbsp;\r\n<ol start=\"3\">\r\n	<li><strong></strong><strong><u> THE PREMIUM SERVICE:</u></strong>&nbsp;</li>\r\n</ol>\r\n<strong><u>SUMMARY OF PERFORMANCE:</u></strong>\r\n\r\n<u>3.1 – OVERVIEW and SUBSCRIPTION OPTIONS, FEATURES and PRICING:</u>\r\n\r\nFor new readers who may not be aware, I refer to the PREMIUM SERVICE quite a lot in this blog and for more details about what it is, and, how much it costs, you will need to go the welcome page of <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a>\r\n\r\nAt the top of my welcome page there are three drop down menus: -\r\n\r\nPREMIUM SERVICE PROMOTIONS (if available)\r\nSIGN-UP\r\nDISCLAIMER\r\n\r\nFurther details and how to join are all contained there. You will need at PayPal account to subscribe.\r\n\r\nBelow I provide the details of GOLD and SILVER subscription options and pricing.\r\n\r\nIf at the time of posting this blog the SILVER option is not finalized on my website and you wish to purchase this please contact me via my email address at the end of the blog and I will manually set up the subscription.\r\n\r\n<u>GOLD MEMBER SUBSCRIPTION FEATURES &amp; PRICING OPTIONS:</u>\r\n\r\n&nbsp;\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\">weeklyfxdrivethru.com</a></li>\r\n	<li>A dedicated exclusive twitter feed for GOLD MEMBER subscribers only @ThePremService.</li>\r\n	<li>All trade set-ups communicated via Twitter and RADAR and FUNDAMENTAL trades additionally via email when possible.</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\">weeklyfxdrivethru.com</a></li>\r\n	<li>My thoughts and comments on market conditions via twitter and/or email.</li>\r\n</ul>\r\nGOLD MEMBER SUBSCRIPTION OPTION PRICING:\r\n(Please note that PayPal works in months NOT weeks)\r\n\r\n10 weeks / 3 months:               $295.00\r\n\r\n20 weeks / 6 months:               $495.00\r\n\r\n40 weeks / 12 months:             $795.00\r\n\r\n&nbsp;\r\n\r\n<u>SILVER MEMBER SUBSCRIPTION FEATURES &amp; PRICING OPTIONS:</u>\r\n\r\n&nbsp;\r\n<ul>\r\n	<li>Simple 4 weekly (monthly) membership pricing.</li>\r\n	<li>A dedicated exclusive twitter feed for SILVER MEMBER subscribers only @PremServSilver.</li>\r\n	<li>All my trade set-ups delivered to you via the SILVER MEMBER subscriber twitter feed @PremServSilver.</li>\r\n	<li>Access to the PREMIUM SERVICE website (relevant trade information only).</li>\r\n	<li>The “FREE NEWSLETTER” version of THE WEEKLY FX DRIVE THRU delivered weekly direct to you email inbox and viewable online at <a href=\"http://www.weeklyfxdrivethru.com\">weeklyfxdrivethru.com</a></li>\r\n</ul>\r\n&nbsp;\r\n\r\nSILVER MEMBER SUBSCRIPTION OPTION PRICING:\r\n(Please note that PayPal works in months NOT weeks)\r\n\r\n4 weeks / 1 month:                    $100.00\r\n\r\n&nbsp;\r\n\r\n<u>PLEASE NOTE:</u>\r\n\r\nFrom time to time special SUBSCRIPTION PROMOTIONS are offered. Check out the PROMOTIONS tab on my welcome page at <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a>\r\n\r\n&nbsp;\r\n\r\n<u>3.2 - SUMMARY OF PERFORMANCE:</u>\r\n\r\n(Only the excel spreadsheets will now be shown in this section. References to previous, present and future trades “LAST WEEK’s TRADING REVIEW” will now be provided solely for the benefit of PREMIUM SERVICE subscribers and has been moved into section 4).\r\n\r\n<u>3.2.1 – PREMIUM SERVICE – COST INCOME ANALYSIS:\r\n</u>\r\n<p style=\"text-align: center;\">EMANATING FROM TRADE SET-UPS - 2015 to date:</p>\r\n<p style=\"text-align: center;\"><u>MICRO LOT TRADER</u> - 326 trades cost to trade = $32.60\r\n<strong>PROFIT</strong> from 326 trades = <strong><u>$397.60</u></strong></p>\r\n<p style=\"text-align: center;\"><u>MINI LOT TRADER</u> - 326 trades cost to trade = $326.00\r\n<strong>PROFIT</strong> from 326 trades = <strong><u>$3,976.00</u></strong></p>\r\n<p style=\"text-align: center;\"><u>STANDARD LOT TRADER</u> - 326 trades cost to trade = $3,260.00\r\n<strong>PROFIT</strong> from 326 trades = <strong><u>$39,760.00</u></strong></p>\r\n<p style=\"text-align: center;\">If the above return from Forex Trading interests you go to\r\n<a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a> and check out the subscription options under the tab “PREMIUM SERVICE”.\r\nThe above performance above is based off single-lot trade sizes.\r\nTHE PREMIUM SERVICE has subscribers with broker accounts of sizes ranging from $2,500 to over $100,000.\r\nA profitable trade is a profitable trade it is all about trading according to the size of your broker account (EFFECTIVE POSITION SIZING) and applying RISK MANAGEMENT principles at all times.</p>\r\n&nbsp;\r\n\r\n<u>3.2.2 - PREMIUM SERVICE - OVERALL TRADE SUMMARY MONTH &amp; YTD:</u>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/PREM-SERV-PROFITS1-10052015.png\"><img class=\"aligncenter size-full wp-image-5928\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/PREM-SERV-PROFITS1-10052015.png\" alt=\"PREM SERV PROFITS1 10052015\" width=\"461\" height=\"419\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/REM-SERV-PROFITS2-10052015.png\"><img class=\"aligncenter size-full wp-image-5929\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/REM-SERV-PROFITS2-10052015.png\" alt=\"REM SERV PROFITS2 10052015\" width=\"467\" height=\"425\" /></a>\r\n\r\n&nbsp;\r\n<ol start=\"4\">\r\n	<li><strong><u> PREMIUM SERVICE SUBSCRIBER EXCLUSIVE CONTENT:</u></strong></li>\r\n</ol>\r\n(Section 4 is exclusive PREMIUM SERVICE content only available to PREMIUM SERVICE subscribers)\r\n\r\n<u>4.1 - EDUCATION:\r\n</u>(The full list of all items and more from this section can be found in the PREMIUM SERVICE website in the Trade Essential area under the EDUCATION tab.)\r\n\r\n<u>4.2 – THE PREMIUM SERVICE – TRADING REVIEW:</u>\r\n\r\n<u>4.3 - THE PREMIUM SERVICE - EXISTING LIVE TRADES:</u>\r\n\r\n<u>4.4 - THE PREMIUM SERVICE – EXISTING LIMIT ORDERS:</u>\r\n\r\n<u>4.5 - POTENTIAL TRADES - WHAT CHARTS AM I LOOKING AT?</u>\r\n\r\n<u>4.6 - MAJOR TRADING PAIRS WITH LONGER-TERM TRENDS MATCHING:</u>\r\n\r\n<u>4.7 - THE KEY SUPPORT &amp; RESISTANCE LEVELS WITH THE USD MAJORS</u><strong><u>:</u></strong>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n<ol start=\"5\">\r\n	<li><strong><u> THE CONCLUSION - MY FINAL THOUGHTS:</u></strong></li>\r\n</ol>\r\n<u>5.1 - SUBSCRIBING TO THE “FREE VERSION” OF THE WEEKLY FX DRIVE THRU:</u>\r\n\r\nIf you like what you have almost completed reading and want to have THE WEEKLY FX DRIVE THRU delivered direct to your email inbox next week, here is what you do: -\r\n\r\nGo to my website: - <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a>\r\n\r\nOn the right hand side of the welcome page under my bio “about me” there is a blue box titled SUBSCRIBE TO FREE NEWSLETTER, click on profile and add your email address. It is as simple and straightforward as that.\r\n\r\nI do NOT sell your email data to anyone…do not worry...one less thing to worry about!<strong><u> </u></strong>\r\n\r\n<u>5.2 –TRADING TIPS &amp; THOUGHTS FOR THE WEEK AHEAD: </u>\r\n\r\nThis coming week is a major week for news.\r\n\r\nThe highlights for me being; Carney’s BOE Inflation Report, Wheelers fireside chat about all things RBNZ and USD Retail Sales. With the review of the U.S. data on TV, I just love it when the American pundits are so bullish when data is pure and simple crap. They believe if they talk louder it somehow makes the data improve. I just love it.\r\n\r\nAdded to the above economic data there is always GREECE news to keep us interested. Apparently, May 11<sup>th</sup> and May 12<sup>th</sup> are now the key dates. “Yeah right, my ar*e”.\r\n\r\nAs always, there will be trades to trade and there will be some great opportunities, please trade in line with your RISK MANAGEMENT parameters from your TRADING PLAN. If you do not have a TRADE PLAN, in my opinion, you should, as this will help you with consistency.\r\n<p style=\"text-align: center;\"><strong>Consistency = longevity in trading and that is a critical goal.\r\nIT IS THE KEY MEASUREMENT</strong></p>\r\nBefore you enter a trade work out the risk, price it in $$$. Place your stop accordingly. PREMIUM SERVICE subscribers have a full library of information on RISK MANAGEMENT, RISK TOLERANCES and POSITION SIZING etc. available for reference 24x7.\r\n\r\n&nbsp;\r\n\r\nTake care.\r\n\r\nScott Pickering\r\nThe Pip Accumulator\r\nSunday May 10th 2015\r\n\r\nEMAIL / FOLLOW ME AT:\r\ndrivethru@weeklyfxdrivethru.com\r\nTwitter: @pipaccumulator\r\nGoogle+/scottpickering\r\nTumblr: thepipaccumulator\r\n\r\n<u>VIEWS AND COMMENTS IN THIS BLOG:</u>\r\n\r\nAll the comments and views expressed in my blog are my thoughts and ideas only. They are based on my FUNDAMENTAL views of the markets and my thoughts on the individuals concerned on how they manage positions in the public domain. In addition, I have my own thoughts and views about what I think goes on behind closed doors. You should NOT base any trade ideas on my thoughts and views alone. As I have said on many occasions in my blog, I am a FUNDAMENTAL trader first, then a TECHNICAL trader second using chart analysis to establish what I believe to be excellent trade entry positions. However, you must make up your own mind and trade at your own risk deciding if the entry levels I refer to actually meet with your views and thoughts. This makes complete sense as the risk in trading your account is 100% owned by you.\r\n\r\n<u>THIRD PARTY COMPANIES WITH BANNERS ON MY WEBSITE:</u><u> </u>\r\n\r\nThere are a small number of companies with banners on my website. In the interests of full disclosure I have a reciprocal business arrangement with these companies to promote their products. Unlike many of my competitors, I use the products and services provided by these companies. I will NOT allow any third party on my website unless I am 100% happy that they can back up their promise. By virtue of the fact, I work with these companies almost daily. I am more than confident to have them advertise on my website. Any reader who buys products or services from any advertiser via a banner on my website, <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a> will automatically have my help and assistance with any issues that they may have with my partnered advertisers.\r\n\r\n<u>TRADING &amp; PERFORMANCES DISCLAIMER:</u>\r\n\r\nFLASH, RADAR and FUNDAMENTAL trade set-ups, “Tweets” and “Trade ideas” that are posted in my blogs or on Twitter are trades and set-ups that interest me. They are provided for training and informational purposes only and should not be interpreted as an offer, solicitation or recommendation of any specific security or investment strategy. Past performance is not indicative of future results. Trading Forex carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to trade any such leveraged products you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with trading on margin, and seek advice from an independent financial adviser if you have any doubts.','WHY IS THE FX MARKET GIVING MIXED SIGNALS?','','inherit','open','closed','','5962-revision-v1','','','2015-05-08 21:43:55','2015-05-09 02:43:55','',5962,'https://weeklyfxdrivethru.com/5962-revision-v1/',0,'revision','',0),(5984,1,'2015-05-16 07:39:59','2015-05-16 12:39:59','<p style=\"text-align: center;\"><strong>THE PREMIUM SERVICE\r\n</strong><strong>The Home of Single-Lot Trading\r\nwww.weeklyfxdrivethru.com</strong></p>\r\n<strong>DATE: 17.05.2015\r\nREFERENCE: #60\r\n</strong><strong>BLOG: THE PREMIUM SERVICE</strong>\r\n<ol>\r\n	<li><strong> INTRODUCTION - MY OVERVIEW OF THE FOREX MARKET:</strong></li>\r\n</ol>\r\nAs advised on twitter earlier in the week, I have a function this VICTORIA DAY holiday weekend. As a result of which, I am not able to complete the full blog. It will be back to normal size next weekend.\r\n\r\nIn addition, over the past 7-10 days, I am hoping that those of you who regularly visit the web site would have noticed a speed improvement when surfing through content. Stages 1 and 2 of a 4 part change process have now been completed.\r\n\r\nFinally, to keep things fresh, I am going to re-visit the blog content once again. I have randomly chosen 10 GOLD subscribers to offer ideas and to review my thoughts. I want to have these changes up and running for the next blog if possible. I have left the current structured heading in place this week, purely and simply to help me with next weeks construction of the blog.\r\n\r\n&nbsp;\r\n\r\n<u>LOOKING BACKWARDS, FORWARDS &amp; SIDEWAYS (FOR GOOD MEASURE) AT THE FX MARKET:</u>\r\n\r\n<u>1.1 - LOOKING BACKWARDS:</u>\r\n\r\n<u>1.2 - LOOKING FORWARDS:</u>\r\n\r\n<u>MAJOR FOREX NEWS THIS WEEK THAT INTERESTS ME:</u>\r\n\r\n<u>(There are many more news items related to the Forex Market than the ones listed below. These are the ones that interest me. You can go to </u><a href=\"http://www.forexfactory.com\">www.forexfactory.com</a><u> and </u><a href=\"http://www.tradingeconomics.com\">www.tradingeconomics.com</a><u> for more comprehensive lists of all news events that are Forex related).</u>\r\nSUNDAY: N/A.\r\n\r\nMONDAY: AUD – Monetary Policy Meeting Minutes.\r\n\r\nTUESDAY: GBP - CPi.\r\nTUESDAY: EUR – German ZEW Economic Sentiment.\r\nTUESDAY: NZD – Dairy Auction Prices.\r\nTUESDAY: CAD – Words of wisdom from Stephen Poloz BOC.\r\n\r\nWEDNESDAY: USD – FOMC Meeting Minutes.\r\nWEDNESDAY: CNY – HSBC Flash Manufacturing PMi.\r\nWEDNESDAY: NZD – Annual Budget Release.\r\n\r\nTHURSDAY: EUR – French and German Manufacturing PMi.\r\nTHURSDAY: GBP – Retail Sales.\r\nFRIDAY: USD – Core CPi and CPi.\r\nFRIDAY: CAD – Core CPI and Core Retail Sales.\r\n\r\n&nbsp;\r\n\r\n<u>1.3 - LOOKING SIDEWAYS (FOR GOOD MEASURE):</u>\r\n\r\n&nbsp;\r\n<ol start=\"2\">\r\n	<li><strong><u> WHAT’S ON MY MIND: -\r\nTHE FUNDAMENTAL TRADERS OVERVIEW:</u></strong></li>\r\n</ol>\r\n<strong> </strong>\r\n<ol start=\"3\">\r\n	<li><strong><u> THE PREMIUM SERVICE:</u></strong></li>\r\n</ol>\r\n<strong><u>SUMMARY OF PERFORMANCE:</u></strong>\r\n\r\n<u>3.1 – OVERVIEW and SUBSCRIPTION OPTIONS, FEATURES and PRICING:</u>\r\n\r\n<u>3.2 - SUMMARY OF PERFORMANCE:</u>\r\n\r\n(Only the excel spreadsheets will now be shown in this section. References to previous, present and future trades “LAST WEEK’s TRADING REVIEW” will now be provided solely for the benefit of PREMIUM SERVICE subscribers and has been moved into section 4).\r\n\r\n<u>3.2.1 – PREMIUM SERVICE – COST INCOME ANALYSIS:\r\n</u>\r\n<p style=\"text-align: center;\"><strong>EMANATING FROM TRADE SET-UPS - 2015 to date:</strong></p>\r\n<p style=\"text-align: center;\"><u>MICRO LOT TRADER</u> - 349 trades cost to trade = $34.90\r\n<strong>PROFIT</strong> from 349 trades = <strong><u>$471.50</u></strong></p>\r\n<p style=\"text-align: center;\"><u>MINI LOT TRADER</u> - 349 trades cost to trade = $349.00\r\n<strong>PROFIT</strong> from 349 trades = <strong><u>$4,715.00</u></strong></p>\r\n<p style=\"text-align: center;\"><u>STANDARD LOT TRADER</u> - 349 trades cost to trade = $3,490.00\r\n<strong>PROFIT</strong> from 349 trades = <strong><u>$47,150.00</u></strong></p>\r\n<u>3.2.2 - PREMIUM SERVICE - OVERALL TRADE SUMMARY MONTH &amp; YTD:</u>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/PREM-SERV-PROFITS-1-17052015.png\"><img class=\"aligncenter size-full wp-image-5973\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/PREM-SERV-PROFITS-1-17052015.png\" alt=\"PREM SERV PROFITS 1 17052015\" width=\"456\" height=\"423\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/PREM-SERV-PROFITS2-17052015.png\"><img class=\"aligncenter size-full wp-image-5974\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/PREM-SERV-PROFITS2-17052015.png\" alt=\"PREM SERV PROFITS2 17052015\" width=\"461\" height=\"427\" /></a>\r\n\r\n&nbsp;\r\n<ol start=\"4\">\r\n	<li><strong><u> PREMIUM SERVICE SUBSCRIBER EXCLUSIVE CONTENT:</u></strong></li>\r\n</ol>\r\n(Section 4 is exclusive PREMIUM SERVICE content only available to PREMIUM SERVICE subscribers)\r\n\r\n<u>4.1 - EDUCATION:\r\n</u>(The full list of all items and more from this section can be found in the PREMIUM SERVICE website in the Trade Essential area under the EDUCATION tab.)\r\n\r\n<u>4.2 – THE PREMIUM SERVICE – TRADING REVIEW:</u>\r\n\r\nWoulda…. Coulda…. Shoulda.\r\n\r\nThe above just about sums up the week for me. I know that the PREMIUM SERVICE added great profits this week, but I let a lot more go. I also traded poorly in my own accounts away from the PREMIUM SERVICE. Several pullback trades were a disaster. To say that I am frustrated and annoyed would be an under statement of how I feel at the time of writing this section of the blog.\r\n\r\nWe took some nice profits on the cross-rates this week on a couple of occasions; I am now waiting for the pullback to re-enter again. I will be checking these entries over the next 48 hours. I am conscious of the fact the last time I was in this position I spent too much time trying to grab the best entry and missed so many trades.\r\n\r\nI am now just waiting on GREECE. I have several trades in the back pocket ready to go after the GREECE default is announced and the dust settles. I just cannot see a bailout being accepted and I am certain that these delays upon delays are just so GREECE can have its emergency measures in position: Monetary controls, Drachma introduction etc.\r\n\r\nI can only see this being the route to be adopted as the Athens government has had months now to come up with its package of measures to reach a fiscal agreement with its creditors. It’s all gone really quiet on that front in my opinion. I have trades at the ready.\r\n\r\nThe markets are still at extremes, the EUR/USD appears to be well over-bought in my opinion and 1.1500 should be the limit if we get there. These extremes are creating both choppy and then stale markets. It is awkward at times.\r\n\r\nThe smaller trade sized positions with wider stops are the most successful trades at the moment. It all comes back to RISK MANAGEMENT and POSITION SIZING.\r\n\r\nFinally, I want to explain in a little more detail why there aren\'t as many email alerts for RADAR and FUNDAMENTAL trades coming your way. It is due to the fact that as we have severe winters here just outside of Montreal, over 7-8 feet of snow per winter and temperatures of -20-30 celsius. In the summer at +20 +30 degrees I trade from the pavilion on the terrace using combination of LapTops and iPADs. My iMac has all the administration contained in its memory, therefore, as it is not portable, unless I am in my office Trade alerts will be via Twitter.\r\n\r\n&nbsp;\r\n\r\n<u>4.3 - THE PREMIUM SERVICE - EXISTING LIVE TRADES:</u>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/PS-LIVE-TRADES-17052015.png\"><img class=\"aligncenter size-full wp-image-5981\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/PS-LIVE-TRADES-17052015.png\" alt=\"PS LIVE TRADES 17052015\" width=\"722\" height=\"570\" /></a>\r\n\r\n&nbsp;\r\n\r\n<u>4.4 - THE PREMIUM SERVICE – EXISTING LIMIT ORDERS:</u>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/PS-LIMIT-ORDERS-17052015.png\"><img class=\"aligncenter size-full wp-image-5980\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/PS-LIMIT-ORDERS-17052015.png\" alt=\"PS LIMIT ORDERS 17052015\" width=\"708\" height=\"427\" /></a>\r\n\r\n<u>PLEASE NOTE:</u>\r\n\r\nRemember position sizes for suggested FUNDAMENTAL TRADES should be much smaller than usual, maybe only 20%-25% of your normal trading position size. It is only when we add to our positions that the fun begins. All FUNDAMENTAL trades posted via email contain a second page with details of where I will add trades and when and where stops are moved, the Stair Stepping Stop Protection (SSSP) is self-explanatory and I hope useful. Using this grows your trading position and helps protect the profits made, should the trade gain traction. In addition, I have added some detail on my HEDGING approach as well to the second FUNDAMENTAL TRADE alert page. More detailed information on HEDGING can be found inside the PREMIUM SERVICE website under the EDUCATION tab – Trading Essentials.\r\n\r\nI view the commodity cross-rate pairs, which form the basis of my FUNDAMENTAL TRADE SET-UPS as bonus trades away from the USD majors and over the year they can be very profitable. This is why I have a separate broker account for commodity cross-RATE PAIR trades. It gives me an immediate measurement of performance without the need to extrapolate data.\r\n\r\n<u>4.5 - POTENTIAL TRADES - WHAT CHARTS AM I LOOKING AT?</u>\r\n\r\n(This section usually contains charts mainly relating to non-USD majors, in particular the ones that I am working on and looking at because they catch my eye that may become potential trades in the trading sessions ahead. If there are no comments beneath the charts, my comments / thoughts are written on them directly. I will tweet and email as soon as these possible trades become LIMIT ORDERS)\r\n\r\n<u>THIS WEEKS OVERVIEW:</u>\r\n\r\nI will not be looking at charts until after the weekend. I will be looking at existing live trades at the open on Sunday night.\r\n\r\n<u> </u><u>4.6 - MAJOR TRADING PAIRS WITH LONGER-TERM TRENDS MATCHING:</u>\r\n\r\nThe 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/2015/05/PS-TRENDING-PAIRS-17052015.png\"><img class=\"aligncenter size-full wp-image-5982\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/PS-TRENDING-PAIRS-17052015.png\" alt=\"PS TRENDING PAIRS 17052015\" width=\"398\" height=\"512\" /></a>\r\n\r\n<u>4.7 - THE KEY SUPPORT &amp; RESISTANCE LEVELS WITH THE USD MAJORS</u><strong><u>:\r\n</u></strong>(The reviews in the section are accompanied with weekly charts of the USD majors.\r\n\r\n<strong>EUR/USD: Closing Price 1.1447</strong>\r\n\r\nWe closed the week on a squeeze. The squeeze emanated from 3 pieces of bad economic data released in the U.S. on Friday. In addition we had the EUR Bunds playing games and the DAX as well. Tempted as I was to set up a EUR/USD late on Friday evening, I decided not to as my entire set of broker accounts had negative balances and in addition, I had enough RISK EXPOSURE. I also had a EUR/GBP short trade in play, so in essence I was already in a EUR short trade.\r\n\r\nThe chart below contains a few more of my thoughts.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/EURUSD-W-15052015.png\"><img class=\"aligncenter size-large wp-image-5971\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/EURUSD-W-15052015-1024x464.png\" alt=\"EURUSD W 15052015\" width=\"1024\" height=\"464\" /></a>\r\n\r\n&nbsp;\r\n\r\nSupport in the EUR/USD is at 1.1340 with resistance is at 1.1495.\r\n\r\n<strong> </strong>\r\n\r\n<strong>GBP/USD: Closing Price 1.5726</strong>.\r\n\r\nThe move higher with cable has continued through last week. We saw another 300 pips or so added.\r\n\r\nMy comments for this pair are contained on the chart below.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/GBPUSD-W-15052015.png\"><img class=\"aligncenter size-large wp-image-5970\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/GBPUSD-W-15052015-1024x464.png\" alt=\"GBPUSD W 15052015\" width=\"1024\" height=\"464\" /></a>\r\n\r\n&nbsp;\r\n\r\nSupport should be at 1.5710 and resistance at 1.5855.\r\n\r\n<strong> </strong>\r\n\r\n<strong>AUD/USD: Closing Price 0.8038</strong>.\r\n\r\nThis pair is creeping higher week on week. My comments relating to this pair are contained on the chart below.\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/AUDUSD-W-15052015.png\"><img class=\"aligncenter size-large wp-image-5972\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/AUDUSD-W-15052015-1024x464.png\" alt=\"AUDUSD W 15052015\" width=\"1024\" height=\"464\" /></a>\r\n\r\n&nbsp;\r\n\r\nSupport should now be at 0.7950 and resistance at 0.8100.\r\n\r\n&nbsp;\r\n\r\n<strong>NZD/USD: Closing Price 0.7463</strong>.\r\n\r\nMy comments related to this pair are contained on the chart below.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/NZDUSD-W-15052015.png\"><img class=\"aligncenter size-large wp-image-5969\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/NZDUSD-W-15052015-1024x464.png\" alt=\"NZDUSD W 15052015\" width=\"1024\" height=\"464\" /></a>\r\n\r\n&nbsp;\r\n\r\nSupport is at 0.7420 and resistance is at 0.7540.\r\n\r\n&nbsp;\r\n\r\n<strong> </strong>\r\n\r\n<strong>USD/CAD: Closing Price 1.2015.</strong>\r\n\r\nI am looking to pick this pair up for a long side trade just below existing levels. I have my comments for this pair contained on the chart.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/USDCAD-W-15052015.png\"><img class=\"aligncenter size-large wp-image-5968\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/USDCAD-W-15052015-1024x464.png\" alt=\"USDCAD W 15052015\" width=\"1024\" height=\"464\" /></a>\r\n\r\n&nbsp;\r\n\r\nSupport should be good at 1.2000, if not then 1.1950. Resistance is at 1.2150.\r\n\r\n<strong> </strong><strong> </strong>\r\n\r\n<strong>USD/CHF: Closing Price 0.9157</strong>.\r\n\r\nMy comments for this pair are contained on the chart.\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/USDCHF-W-15052015.png\"><img class=\"aligncenter size-large wp-image-5967\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/USDCHF-W-15052015-1024x464.png\" alt=\"USDCHF W 15052015\" width=\"1024\" height=\"464\" /></a>\r\n\r\n&nbsp;\r\n\r\nSupport is at 0.9120 and resistance at 0.9350.\r\n\r\n&nbsp;\r\n\r\n<strong>USD/JPY: Closing Price 119.39. </strong>\r\n\r\nStill range bound.\r\n\r\nIf you are range trader enjoy… If not, then stay away.\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/USDJPY-W-15052015.png\"><img class=\"aligncenter size-large wp-image-5966\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/USDJPY-W-15052015-1024x464.png\" alt=\"USDJPY W 15052015\" width=\"1024\" height=\"464\" /></a>\r\n\r\n&nbsp;\r\n\r\nSupport is at 118.50 and resistance at 120.50.\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n<ol start=\"5\">\r\n	<li><strong><u> THE CONCLUSION - MY FINAL THOUGHTS:</u></strong></li>\r\n</ol>\r\n<u>5.1 - SUBSCRIBING TO THE “FREE VERSION” OF THE WEEKLY FX DRIVE THRU:</u>\r\n\r\n<u>5.2 –TRADING TIPS &amp; THOUGHTS FOR THE WEEK AHEAD: </u>\r\n\r\nThe blog will be back to it’s usual size next week.\r\n\r\nAs always, there will be trades to trade and there will be some great opportunities, please trade in line with your RISK MANAGEMENT parameters from your TRADING PLAN. If you do not have a TRADE PLAN, in my opinion, you should, as this will help you with consistency.\r\n<p style=\"text-align: center;\"><strong>Consistency = longevity in trading and that is a critical goal.\r\nIT IS THE KEY MEASUREMENT</strong></p>\r\nBefore you enter a trade work out the risk, price it in $$$. Place your stop accordingly. PREMIUM SERVICE subscribers have a full library of information on RISK MANAGEMENT, RISK TOLERANCES and POSITION SIZING etc. available for reference 24x7.\r\n\r\n&nbsp;\r\n\r\nTake care.\r\n\r\nScott Pickering\r\nThe Pip Accumulator\r\nSunday May 17th 2015\r\n\r\nEMAIL / FOLLOW ME AT:\r\npremiumservice@weeklyfxdrivethru.com\r\nTwitter: @pipaccumulator\r\nTwitter: @ThePremService\r\nGoogle+/scottpickering\r\nTumblr: thepipaccumulator\r\n\r\n&nbsp;\r\n\r\n<u>VIEWS AND COMMENTS IN THIS BLOG:</u>\r\n\r\nAll the comments and views expressed in my blog are my thoughts and ideas only. They are based on my FUNDAMENTAL views of the markets and my thoughts on the individuals concerned on how they manage positions in the public domain. In addition, I have my own thoughts and views about what I think goes on behind closed doors. You should NOT base any trade ideas on my thoughts and views alone. As I have said on many occasions in my blog, I am a FUNDAMENTAL trader first, then a TECHNICAL trader second using chart analysis to establish what I believe to be excellent trade entry positions. However, you must make up your own mind and trade at your own risk deciding if the entry levels I refer to actually meet with your views and thoughts. This makes complete sense as the risk in trading your account is 100% owned by you.\r\n\r\n<u>THIRD PARTY COMPANIES WITH BANNERS ON MY WEBSITE:</u>\r\n\r\nThere are a small number of companies with banners on my website. In the interests of full disclosure I have a reciprocal business arrangement with these companies to promote their products. Unlike many of my competitors, I use the products and services provided by these companies. I will NOT allow any third party on my website unless I am 100% happy that they can back up their promise. By virtue of the fact, I work with these companies almost daily. I am more than confident to have them advertise on my website. Any reader who buys products or services from any advertiser via a banner on my website, <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a> will automatically have my help and assistance with any issues that they may have with my partnered advertisers.\r\n\r\n<u>TRADING &amp; PERFORMANCES DISCLAIMER:</u>\r\n\r\nFLASH, RADAR and FUNDAMENTAL trade set-ups, “Tweets” and “Trade ideas” that are posted in my blogs or on Twitter are trades and set-ups that interest me. They are provided for training and informational purposes only and should not be interpreted as an offer, solicitation or recommendation of any specific security or investment strategy. Past performance is not indicative of future results. Trading Forex carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to trade any such leveraged products you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with trading on margin, and seek advice from an independent financial adviser if you have any doubts.','VICTORIA DAY WEEKEND - SHORTENED BLOG (GOLD SUBSCRIBERS ONLY)','','publish','open','closed','','victoria-day-weekend-shortened-blog-gold-subscribers-only','','','2015-05-16 07:39:59','2015-05-16 12:39:59','',0,'https://weeklyfxdrivethru.com/?post_type=member_posts&#038;p=5984',0,'member_posts','',0);
INSERT INTO `vp_backup_wp_posts` VALUES (5985,1,'2015-05-15 16:07:32','2015-05-15 21:07:32','<p style=\"text-align: center;\"><strong>THE PREMIUM SERVICE\r\n</strong><strong>The Home of Single-Lot Trading\r\nwww.weeklyfxdrivethru.com</strong></p>\r\n<strong>DATE: 17.05.2015\r\nREFERENCE: #60\r\n</strong><strong>BLOG: THE PREMIUM SERVICE</strong>\r\n\r\n<strong> </strong>\r\n\r\n&nbsp;\r\n<ol>\r\n	<li><strong> INTRODUCTION - MY OVERVIEW OF THE FOREX MARKET:</strong></li>\r\n</ol>\r\nAs advised on twitter earlier in the week, I have a function this VICTORIA DAY holiday weekend. As a result of which, I am not able to complete the full blog.\r\n\r\nIt will be back to normal size next weekend.\r\n\r\n&nbsp;\r\n\r\n<u>LOOKING BACKWARDS, FORWARDS &amp; SIDEWAYS (FOR GOOD MEASURE) AT THE FX MARKET:</u>\r\n\r\n<u>1.1 - LOOKING BACKWARDS:</u>\r\n\r\n<u>1.2 - LOOKING FORWARDS:</u>\r\n\r\n<u>MAJOR FOREX NEWS THIS WEEK THAT INTERESTS ME:</u>\r\n\r\n<u>(There are many more news items related to the Forex Market than the ones listed below. These are the ones that interest me. You can go to </u><a href=\"http://www.forexfactory.com\">www.forexfactory.com</a><u> and </u><a href=\"http://www.tradingeconomics.com\">www.tradingeconomics.com</a><u> for more comprehensive lists of all news events that are Forex related).</u>\r\nSUNDAY: N/A.\r\n\r\nMONDAY: AUD – Monetary Policy Meeting Minutes.\r\n\r\nTUESDAY: GBP - CPi.\r\nTUESDAY: EUR – German ZEW Economic Sentiment.\r\nTUESDAY: NZD – Dairy Auction Prices.\r\nTUESDAY: CAD – Words of wisdom from Stephen Poloz BOC.\r\n\r\nWEDNESDAY: USD – FOMC Meeting Minutes.\r\nWEDNESDAY: CNY – HSBC Flash Manufacturing PMi.\r\nWEDNESDAY: NZD – Annual Budget Release.\r\n\r\nTHURSDAY: EUR – French and German Manufacturing PMi.\r\nTHURSDAY: GBP – Retail Sales.\r\nFRIDAY: USD – Core CPi and CPi.\r\nFRIDAY: CAD – Core CPI and Core Retail Sales.\r\n\r\n&nbsp;\r\n\r\n<u>1.3 - LOOKING SIDEWAYS (FOR GOOD MEASURE):\r\n\r\n</u>\r\n<ol start=\"2\">\r\n	<li><strong><u> WHAT’S ON MY MIND: -\r\nTHE FUNDAMENTAL TRADERS OVERVIEW:</u></strong></li>\r\n</ol>\r\n<strong> </strong>\r\n<ol start=\"3\">\r\n	<li><strong><u> THE PREMIUM SERVICE:\r\n\r\n</u></strong></li>\r\n</ol>\r\n<strong><u>SUMMARY OF PERFORMANCE:</u></strong>\r\n\r\n<u>3.1 – OVERVIEW and SUBSCRIPTION OPTIONS, FEATURES and PRICING:</u>\r\n\r\n<u>3.2 - SUMMARY OF PERFORMANCE:</u>\r\n\r\n(Only the excel spreadsheets will now be shown in this section. References to previous, present and future trades “LAST WEEK’s TRADING REVIEW” will now be provided solely for the benefit of PREMIUM SERVICE subscribers and has been moved into section 4).\r\n\r\n<u>3.2.1 – PREMIUM SERVICE – COST INCOME ANALYSIS:\r\n</u>\r\n<p style=\"text-align: center;\"><strong>EMANATING FROM TRADE SET-UPS - 2015 to date:</strong></p>\r\n<p style=\"text-align: center;\"><u>MICRO LOT TRADER</u> - 349 trades cost to trade = $34.90\r\n<strong>PROFIT</strong> from 349 trades = <strong><u>$471.50</u></strong></p>\r\n<p style=\"text-align: center;\"><u>MINI LOT TRADER</u> - 349 trades cost to trade = $349.00\r\n<strong>PROFIT</strong> from 349 trades = <strong><u>$4,715.00</u></strong></p>\r\n<p style=\"text-align: center;\"><u>STANDARD LOT TRADER</u> - 349 trades cost to trade = $3,490.00\r\n<strong>PROFIT</strong> from 349 trades = <strong><u>$47,150.00</u></strong></p>\r\n<u>3.2.2 - PREMIUM SERVICE - OVERALL TRADE SUMMARY MONTH &amp; YTD:</u>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/PREM-SERV-PROFITS-1-17052015.png\"><img class=\"aligncenter size-full wp-image-5973\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/PREM-SERV-PROFITS-1-17052015.png\" alt=\"PREM SERV PROFITS 1 17052015\" width=\"456\" height=\"423\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/PREM-SERV-PROFITS2-17052015.png\"><img class=\"aligncenter size-full wp-image-5974\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/PREM-SERV-PROFITS2-17052015.png\" alt=\"PREM SERV PROFITS2 17052015\" width=\"461\" height=\"427\" /></a>\r\n\r\n&nbsp;\r\n<ol start=\"4\">\r\n	<li><strong><u> PREMIUM SERVICE SUBSCRIBER EXCLUSIVE CONTENT:</u></strong></li>\r\n</ol>\r\n(Section 4 is exclusive PREMIUM SERVICE content only available to PREMIUM SERVICE subscribers)\r\n\r\n<u>4.1 - EDUCATION:\r\n</u>(The full list of all items and more from this section can be found in the PREMIUM SERVICE website in the Trade Essential area under the EDUCATION tab.)\r\n\r\n<u>4.2 – THE PREMIUM SERVICE – TRADING REVIEW:</u>\r\n\r\nWoulda…. Coulda…. Shoulda.\r\n\r\nThe above just about sums up the week for me. I know that the PREMIUM SERVICE added great profits this week, but I let a lot more go. I also traded poorly in my own accounts away from the PREMIUM SERVICE. Several pullback trades were a disaster. To say that I am frustrated and annoyed would be an under statement of how I feel at the time of writing this section of the blog.\r\n\r\nWe took some nice profits on the cross-rates this week on a couple of occasions; I am now waiting for the pullback to re-enter again. I will be checking these entries over the next 48 hours. I am conscious of the fact the last time I was in this position I spent too much time trying to grab the best entry and missed so many trades.\r\n\r\nI am now just waiting on GREECE. I have several trades in the back pocket ready to go after the GREECE default is announced and the dust settles. I just cannot see a bailout being accepted and I am certain that these delays upon delays are just so GREECE can have its emergency measures in position: Monetary controls, Drachma introduction etc.\r\n\r\nI can only see this being the route to be adopted as the Athens government has had months now to come up with its package of measures to reach a fiscal agreement with its creditors. It’s all gone really quiet on that front in my opinion. I have trades at the ready.\r\n\r\nThe markets are still at extremes, the EUR/USD appears to be well over-bought in my opinion and 1.1500 should be the limit if we get there. These extremes are creating both choppy and then stale markets. It is awkward at times.\r\n\r\nThe smaller trade sized positions with wider stops are the most successful trades at the moment. It all comes back to RISK MANAGEMENT and POSITION SIZING.\r\n\r\n<u>4.3 - THE PREMIUM SERVICE - EXISTING LIVE TRADES:</u>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/PS-LIVE-TRADES-17052015.png\"><img class=\"aligncenter size-full wp-image-5981\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/PS-LIVE-TRADES-17052015.png\" alt=\"PS LIVE TRADES 17052015\" width=\"722\" height=\"570\" /></a>\r\n\r\n&nbsp;\r\n\r\n<u>4.4 - THE PREMIUM SERVICE – EXISTING LIMIT ORDERS:</u>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/PS-LIMIT-ORDERS-17052015.png\"><img class=\"aligncenter size-full wp-image-5980\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/PS-LIMIT-ORDERS-17052015.png\" alt=\"PS LIMIT ORDERS 17052015\" width=\"708\" height=\"427\" /></a>\r\n\r\n<u>PLEASE NOTE:</u>\r\n\r\nRemember position sizes for suggested FUNDAMENTAL TRADES should be much smaller than usual, maybe only 20%-25% of your normal trading position size. It is only when we add to our positions that the fun begins. All FUNDAMENTAL trades posted via email contain a second page with details of where I will add trades and when and where stops are moved, the Stair Stepping Stop Protection (SSSP) is self-explanatory and I hope useful. Using this grows your trading position and helps protect the profits made, should the trade gain traction. In addition, I have added some detail on my HEDGING approach as well to the second FUNDAMENTAL TRADE alert page. More detailed information on HEDGING can be found inside the PREMIUM SERVICE website under the EDUCATION tab – Trading Essentials.\r\n\r\nI view the commodity cross-rate pairs, which form the basis of my FUNDAMENTAL TRADE SET-UPS as bonus trades away from the USD majors and over the year they can be very profitable. This is why I have a separate broker account for commodity cross-RATE PAIR trades. It gives me an immediate measurement of performance without the need to extrapolate data.\r\n\r\n<u>4.5 - POTENTIAL TRADES - WHAT CHARTS AM I LOOKING AT?</u>\r\n\r\n(This section usually contains charts mainly relating to non-USD majors, in particular the ones that I am working on and looking at because they catch my eye that may become potential trades in the trading sessions ahead. If there are no comments beneath the charts, my comments / thoughts are written on them directly. I will tweet and email as soon as these possible trades become LIMIT ORDERS)\r\n\r\n<u>THIS WEEKS OVERVIEW:</u>\r\n\r\nI will not be looking at charts until after the weekend. I will be looking at existing live trades at the open on Sunday night.\r\n\r\n<u> </u><u>4.6 - MAJOR TRADING PAIRS WITH LONGER-TERM TRENDS MATCHING:</u>\r\n\r\nThe 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/2015/05/PS-TRENDING-PAIRS-17052015.png\"><img class=\"aligncenter size-full wp-image-5982\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/PS-TRENDING-PAIRS-17052015.png\" alt=\"PS TRENDING PAIRS 17052015\" width=\"398\" height=\"512\" /></a>\r\n\r\n<u>4.7 - THE KEY SUPPORT &amp; RESISTANCE LEVELS WITH THE USD MAJORS</u><strong><u>:\r\n</u></strong>(The reviews in the section are accompanied with weekly charts of the USD majors)\r\n\r\n<strong>EUR/USD: Closing Price 1.1447</strong>\r\n\r\nWe closed the week on a squeeze. The squeeze emanated from 3 pieces of bad economic data released in the U.S. on Friday. In addition we had the EUR Bunds playing games and the DAX as well. Tempted as I was to set up a EUR/USD late on Friday evening, I decided not to as my entire set of broker accounts had negative balances and in addition, I had enough RISK EXPOSURE. I also had a EUR/GBP short trade in play, so in essence I was already in a EUR short trade.\r\n\r\nThe chart below contains a few more of my thoughts.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/EURUSD-W-15052015.png\"><img class=\"aligncenter size-large wp-image-5971\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/EURUSD-W-15052015-1024x464.png\" alt=\"EURUSD W 15052015\" width=\"1024\" height=\"464\" /></a>\r\n\r\n&nbsp;\r\n\r\nSupport in the EUR/USD is at 1.1340 with resistance is at 1.1495.\r\n\r\n<strong> </strong>\r\n\r\n<strong>GBP/USD: Closing Price 1.5726</strong>.\r\n\r\nThe move higher with cable has continued through last week. We saw another 300 pips or so added.\r\n\r\nMy comments for this pair are contained on the chart below.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/GBPUSD-W-15052015.png\"><img class=\"aligncenter size-large wp-image-5970\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/GBPUSD-W-15052015-1024x464.png\" alt=\"GBPUSD W 15052015\" width=\"1024\" height=\"464\" /></a>\r\n\r\n&nbsp;\r\n\r\nSupport should be at 1.5710 and resistance at 1.5855.\r\n\r\n<strong> </strong>\r\n\r\n<strong>AUD/USD: Closing Price 0.8038</strong>.\r\n\r\nThis pair is creeping higher week on week. My comments relating to this pair are contained on the chart below.\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/AUDUSD-W-15052015.png\"><img class=\"aligncenter size-large wp-image-5972\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/AUDUSD-W-15052015-1024x464.png\" alt=\"AUDUSD W 15052015\" width=\"1024\" height=\"464\" /></a>\r\n\r\n&nbsp;\r\n\r\nSupport should now be at 0.7950 and resistance at 0.8100.\r\n\r\n&nbsp;\r\n\r\n<strong>NZD/USD: Closing Price 0.7463</strong>.\r\n\r\nMy comments related to this pair are contained on the chart below.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/NZDUSD-W-15052015.png\"><img class=\"aligncenter size-large wp-image-5969\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/NZDUSD-W-15052015-1024x464.png\" alt=\"NZDUSD W 15052015\" width=\"1024\" height=\"464\" /></a>\r\n\r\n&nbsp;\r\n\r\nSupport is at 0.7420 and resistance is at 0.7540.\r\n\r\n&nbsp;\r\n\r\n<strong> </strong>\r\n\r\n<strong>USD/CAD: Closing Price 1.2015.</strong>\r\n\r\nI am looking to pick this pair up for a long side trade just below existing levels. I have my comments for this pair contained on the chart.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/USDCAD-W-15052015.png\"><img class=\"aligncenter size-large wp-image-5968\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/USDCAD-W-15052015-1024x464.png\" alt=\"USDCAD W 15052015\" width=\"1024\" height=\"464\" /></a>\r\n\r\n&nbsp;\r\n\r\nSupport should be good at 1.2000, if not then 1.1950. Resistance is at 1.2150.\r\n\r\n<strong> </strong><strong> </strong>\r\n\r\n<strong>USD/CHF: Closing Price 0.9157</strong>.\r\n\r\nMy comments for this pair are contained on the chart.\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/USDCHF-W-15052015.png\"><img class=\"aligncenter size-large wp-image-5967\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/USDCHF-W-15052015-1024x464.png\" alt=\"USDCHF W 15052015\" width=\"1024\" height=\"464\" /></a>\r\n\r\n&nbsp;\r\n\r\nSupport is at 0.9120 and resistance at 0.9350.\r\n\r\n&nbsp;\r\n\r\n<strong>USD/JPY: Closing Price 119.39. </strong>\r\n\r\nStill range bound.\r\n\r\nIf you are range trader enjoy… If not, then stay away.\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/USDJPY-W-15052015.png\"><img class=\"aligncenter size-large wp-image-5966\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/USDJPY-W-15052015-1024x464.png\" alt=\"USDJPY W 15052015\" width=\"1024\" height=\"464\" /></a>\r\n\r\n&nbsp;\r\n\r\nSupport is at 118.50 and resistance at 120.50.\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n<ol start=\"5\">\r\n	<li><strong><u> THE CONCLUSION - MY FINAL THOUGHTS:</u></strong></li>\r\n</ol>\r\n<u>5.1 - SUBSCRIBING TO THE “FREE VERSION” OF THE WEEKLY FX DRIVE THRU:</u>\r\n\r\n<u>5.2 –TRADING TIPS &amp; THOUGHTS FOR THE WEEK AHEAD: </u>\r\n\r\nThe blog will be back to it’s usual size next week.\r\n\r\nAs always, there will be trades to trade and there will be some great opportunities, please trade in line with your RISK MANAGEMENT parameters from your TRADING PLAN. If you do not have a TRADE PLAN, in my opinion, you should, as this will help you with consistency.\r\n<p style=\"text-align: center;\"><strong>Consistency = longevity in trading and that is a critical goal.\r\nIT IS THE KEY MEASUREMENT</strong></p>\r\nBefore you enter a trade work out the risk, price it in $$$. Place your stop accordingly. PREMIUM SERVICE subscribers have a full library of information on RISK MANAGEMENT, RISK TOLERANCES and POSITION SIZING etc. available for reference 24x7.\r\n\r\n&nbsp;\r\n\r\nTake care.\r\n\r\nScott Pickering\r\nThe Pip Accumulator\r\nSunday May 17th 2015\r\n\r\nEMAIL / FOLLOW ME AT:\r\npremiumservice@weeklyfxdrivethru.com\r\nTwitter: @pipaccumulator\r\nTwitter: @ThePremService\r\nGoogle+/scottpickering\r\nTumblr: thepipaccumulator\r\n\r\n&nbsp;\r\n\r\n<u>VIEWS AND COMMENTS IN THIS BLOG:</u>\r\n\r\nAll the comments and views expressed in my blog are my thoughts and ideas only. They are based on my FUNDAMENTAL views of the markets and my thoughts on the individuals concerned on how they manage positions in the public domain. In addition, I have my own thoughts and views about what I think goes on behind closed doors. You should NOT base any trade ideas on my thoughts and views alone. As I have said on many occasions in my blog, I am a FUNDAMENTAL trader first, then a TECHNICAL trader second using chart analysis to establish what I believe to be excellent trade entry positions. However, you must make up your own mind and trade at your own risk deciding if the entry levels I refer to actually meet with your views and thoughts. This makes complete sense as the risk in trading your account is 100% owned by you.\r\n\r\n<u>THIRD PARTY COMPANIES WITH BANNERS ON MY WEBSITE:</u>\r\n\r\nThere are a small number of companies with banners on my website. In the interests of full disclosure I have a reciprocal business arrangement with these companies to promote their products. Unlike many of my competitors, I use the products and services provided by these companies. I will NOT allow any third party on my website unless I am 100% happy that they can back up their promise. By virtue of the fact, I work with these companies almost daily. I am more than confident to have them advertise on my website. Any reader who buys products or services from any advertiser via a banner on my website, <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a> will automatically have my help and assistance with any issues that they may have with my partnered advertisers.\r\n\r\n<u>TRADING &amp; PERFORMANCES DISCLAIMER:</u>\r\n\r\nFLASH, RADAR and FUNDAMENTAL trade set-ups, “Tweets” and “Trade ideas” that are posted in my blogs or on Twitter are trades and set-ups that interest me. They are provided for training and informational purposes only and should not be interpreted as an offer, solicitation or recommendation of any specific security or investment strategy. Past performance is not indicative of future results. Trading Forex carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to trade any such leveraged products you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with trading on margin, and seek advice from an independent financial adviser if you have any doubts.','VICTORIA DAY WEEKEND - SHORTENED BLOG (GOLD SUBSCRIBERS ONLY)','','inherit','open','closed','','5984-revision-v1','','','2015-05-15 16:07:32','2015-05-15 21:07:32','',5984,'https://weeklyfxdrivethru.com/5984-revision-v1/',0,'revision','',0),(5986,1,'2015-05-15 16:15:54','2015-05-15 21:15:54','<p style=\"text-align: center;\"><strong>THE PREMIUM SERVICE\r\n</strong><strong>The Home of Single-Lot Trading\r\nwww.weeklyfxdrivethru.com</strong></p>\r\n<strong>DATE: 17.05.2015\r\nREFERENCE: #60\r\n</strong><strong>BLOG: THE PREMIUM SERVICE</strong>\r\n<ol>\r\n	<li><strong> INTRODUCTION - MY OVERVIEW OF THE FOREX MARKET:</strong></li>\r\n</ol>\r\nAs advised on twitter earlier in the week, I have a function this VICTORIA DAY holiday weekend. As a result of which, I am not able to complete the full blog.\r\n\r\nIt will be back to normal size next weekend.\r\n\r\n&nbsp;\r\n\r\n<u>LOOKING BACKWARDS, FORWARDS &amp; SIDEWAYS (FOR GOOD MEASURE) AT THE FX MARKET:</u>\r\n\r\n<u>1.1 - LOOKING BACKWARDS:</u>\r\n\r\n<u>1.2 - LOOKING FORWARDS:</u>\r\n\r\n<u>MAJOR FOREX NEWS THIS WEEK THAT INTERESTS ME:</u>\r\n\r\n<u>(There are many more news items related to the Forex Market than the ones listed below. These are the ones that interest me. You can go to </u><a href=\"http://www.forexfactory.com\">www.forexfactory.com</a><u> and </u><a href=\"http://www.tradingeconomics.com\">www.tradingeconomics.com</a><u> for more comprehensive lists of all news events that are Forex related).</u>\r\nSUNDAY: N/A.\r\n\r\nMONDAY: AUD – Monetary Policy Meeting Minutes.\r\n\r\nTUESDAY: GBP - CPi.\r\nTUESDAY: EUR – German ZEW Economic Sentiment.\r\nTUESDAY: NZD – Dairy Auction Prices.\r\nTUESDAY: CAD – Words of wisdom from Stephen Poloz BOC.\r\n\r\nWEDNESDAY: USD – FOMC Meeting Minutes.\r\nWEDNESDAY: CNY – HSBC Flash Manufacturing PMi.\r\nWEDNESDAY: NZD – Annual Budget Release.\r\n\r\nTHURSDAY: EUR – French and German Manufacturing PMi.\r\nTHURSDAY: GBP – Retail Sales.\r\nFRIDAY: USD – Core CPi and CPi.\r\nFRIDAY: CAD – Core CPI and Core Retail Sales.\r\n\r\n&nbsp;\r\n\r\n<u>1.3 - LOOKING SIDEWAYS (FOR GOOD MEASURE):</u>\r\n\r\n&nbsp;\r\n<ol start=\"2\">\r\n	<li><strong><u> WHAT’S ON MY MIND: -\r\nTHE FUNDAMENTAL TRADERS OVERVIEW:</u></strong></li>\r\n</ol>\r\n<strong> </strong>\r\n<ol start=\"3\">\r\n	<li><strong></strong><strong><u> THE PREMIUM SERVICE:</u></strong></li>\r\n</ol>\r\n<strong><u>SUMMARY OF PERFORMANCE:</u></strong>\r\n\r\n<u>3.1 – OVERVIEW and SUBSCRIPTION OPTIONS, FEATURES and PRICING:</u>\r\n\r\n<u>3.2 - SUMMARY OF PERFORMANCE:</u>\r\n\r\n(Only the excel spreadsheets will now be shown in this section. References to previous, present and future trades “LAST WEEK’s TRADING REVIEW” will now be provided solely for the benefit of PREMIUM SERVICE subscribers and has been moved into section 4).\r\n\r\n<u>3.2.1 – PREMIUM SERVICE – COST INCOME ANALYSIS:\r\n</u>\r\n<p style=\"text-align: center;\"><strong>EMANATING FROM TRADE SET-UPS - 2015 to date:</strong></p>\r\n<p style=\"text-align: center;\"><u>MICRO LOT TRADER</u> - 349 trades cost to trade = $34.90\r\n<strong>PROFIT</strong> from 349 trades = <strong><u>$471.50</u></strong></p>\r\n<p style=\"text-align: center;\"><u>MINI LOT TRADER</u> - 349 trades cost to trade = $349.00\r\n<strong>PROFIT</strong> from 349 trades = <strong><u>$4,715.00</u></strong></p>\r\n<p style=\"text-align: center;\"><u>STANDARD LOT TRADER</u> - 349 trades cost to trade = $3,490.00\r\n<strong>PROFIT</strong> from 349 trades = <strong><u>$47,150.00</u></strong></p>\r\n<u>3.2.2 - PREMIUM SERVICE - OVERALL TRADE SUMMARY MONTH &amp; YTD:</u>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/PREM-SERV-PROFITS-1-17052015.png\"><img class=\"aligncenter size-full wp-image-5973\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/PREM-SERV-PROFITS-1-17052015.png\" alt=\"PREM SERV PROFITS 1 17052015\" width=\"456\" height=\"423\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/PREM-SERV-PROFITS2-17052015.png\"><img class=\"aligncenter size-full wp-image-5974\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/PREM-SERV-PROFITS2-17052015.png\" alt=\"PREM SERV PROFITS2 17052015\" width=\"461\" height=\"427\" /></a>\r\n\r\n&nbsp;\r\n<ol start=\"4\">\r\n	<li><strong><u> PREMIUM SERVICE SUBSCRIBER EXCLUSIVE CONTENT:</u></strong></li>\r\n</ol>\r\n(Section 4 is exclusive PREMIUM SERVICE content only available to PREMIUM SERVICE subscribers)\r\n\r\n<u>4.1 - EDUCATION:\r\n</u>(The full list of all items and more from this section can be found in the PREMIUM SERVICE website in the Trade Essential area under the EDUCATION tab.)\r\n\r\n<u>4.2 – THE PREMIUM SERVICE – TRADING REVIEW:</u>\r\n\r\nWoulda…. Coulda…. Shoulda.\r\n\r\nThe above just about sums up the week for me. I know that the PREMIUM SERVICE added great profits this week, but I let a lot more go. I also traded poorly in my own accounts away from the PREMIUM SERVICE. Several pullback trades were a disaster. To say that I am frustrated and annoyed would be an under statement of how I feel at the time of writing this section of the blog.\r\n\r\nWe took some nice profits on the cross-rates this week on a couple of occasions; I am now waiting for the pullback to re-enter again. I will be checking these entries over the next 48 hours. I am conscious of the fact the last time I was in this position I spent too much time trying to grab the best entry and missed so many trades.\r\n\r\nI am now just waiting on GREECE. I have several trades in the back pocket ready to go after the GREECE default is announced and the dust settles. I just cannot see a bailout being accepted and I am certain that these delays upon delays are just so GREECE can have its emergency measures in position: Monetary controls, Drachma introduction etc.\r\n\r\nI can only see this being the route to be adopted as the Athens government has had months now to come up with its package of measures to reach a fiscal agreement with its creditors. It’s all gone really quiet on that front in my opinion. I have trades at the ready.\r\n\r\nThe markets are still at extremes, the EUR/USD appears to be well over-bought in my opinion and 1.1500 should be the limit if we get there. These extremes are creating both choppy and then stale markets. It is awkward at times.\r\n\r\nThe smaller trade sized positions with wider stops are the most successful trades at the moment. It all comes back to RISK MANAGEMENT and POSITION SIZING.\r\n\r\nFinally, I want to explain in a little more detail why there aren\'t as many email alerts for RADAR and FUNDAMENTAL trades coming your way. It is due to the fact that as we have severe winters here just outside of Montreal, over 7-8 feet of snow per winter and temperatures of -20-30 celsius. In the summer at +20 +30 degrees I trade from the pavilion on the terrace using combination of LapTops and iPADs. My iMac has all the administration contained in its memory, therefore, as it is not portable, unless I am in my office Trade alerts will be via Twitter.\r\n\r\n&nbsp;\r\n\r\n<u>4.3 - THE PREMIUM SERVICE - EXISTING LIVE TRADES:</u>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/PS-LIVE-TRADES-17052015.png\"><img class=\"aligncenter size-full wp-image-5981\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/PS-LIVE-TRADES-17052015.png\" alt=\"PS LIVE TRADES 17052015\" width=\"722\" height=\"570\" /></a>\r\n\r\n&nbsp;\r\n\r\n<u>4.4 - THE PREMIUM SERVICE – EXISTING LIMIT ORDERS:</u>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/PS-LIMIT-ORDERS-17052015.png\"><img class=\"aligncenter size-full wp-image-5980\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/PS-LIMIT-ORDERS-17052015.png\" alt=\"PS LIMIT ORDERS 17052015\" width=\"708\" height=\"427\" /></a>\r\n\r\n<u>PLEASE NOTE:</u>\r\n\r\nRemember position sizes for suggested FUNDAMENTAL TRADES should be much smaller than usual, maybe only 20%-25% of your normal trading position size. It is only when we add to our positions that the fun begins. All FUNDAMENTAL trades posted via email contain a second page with details of where I will add trades and when and where stops are moved, the Stair Stepping Stop Protection (SSSP) is self-explanatory and I hope useful. Using this grows your trading position and helps protect the profits made, should the trade gain traction. In addition, I have added some detail on my HEDGING approach as well to the second FUNDAMENTAL TRADE alert page. More detailed information on HEDGING can be found inside the PREMIUM SERVICE website under the EDUCATION tab – Trading Essentials.\r\n\r\nI view the commodity cross-rate pairs, which form the basis of my FUNDAMENTAL TRADE SET-UPS as bonus trades away from the USD majors and over the year they can be very profitable. This is why I have a separate broker account for commodity cross-RATE PAIR trades. It gives me an immediate measurement of performance without the need to extrapolate data.\r\n\r\n<u>4.5 - POTENTIAL TRADES - WHAT CHARTS AM I LOOKING AT?</u>\r\n\r\n(This section usually contains charts mainly relating to non-USD majors, in particular the ones that I am working on and looking at because they catch my eye that may become potential trades in the trading sessions ahead. If there are no comments beneath the charts, my comments / thoughts are written on them directly. I will tweet and email as soon as these possible trades become LIMIT ORDERS)\r\n\r\n<u>THIS WEEKS OVERVIEW:</u>\r\n\r\nI will not be looking at charts until after the weekend. I will be looking at existing live trades at the open on Sunday night.\r\n\r\n<u> </u><u>4.6 - MAJOR TRADING PAIRS WITH LONGER-TERM TRENDS MATCHING:</u>\r\n\r\nThe 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/2015/05/PS-TRENDING-PAIRS-17052015.png\"><img class=\"aligncenter size-full wp-image-5982\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/PS-TRENDING-PAIRS-17052015.png\" alt=\"PS TRENDING PAIRS 17052015\" width=\"398\" height=\"512\" /></a>\r\n\r\n<u>4.7 - THE KEY SUPPORT &amp; RESISTANCE LEVELS WITH THE USD MAJORS</u><strong><u>:\r\n</u></strong>(The reviews in the section are accompanied with weekly charts of the USD majors)\r\n\r\n<strong>EUR/USD: Closing Price 1.1447</strong>\r\n\r\nWe closed the week on a squeeze. The squeeze emanated from 3 pieces of bad economic data released in the U.S. on Friday. In addition we had the EUR Bunds playing games and the DAX as well. Tempted as I was to set up a EUR/USD late on Friday evening, I decided not to as my entire set of broker accounts had negative balances and in addition, I had enough RISK EXPOSURE. I also had a EUR/GBP short trade in play, so in essence I was already in a EUR short trade.\r\n\r\nThe chart below contains a few more of my thoughts.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/EURUSD-W-15052015.png\"><img class=\"aligncenter size-large wp-image-5971\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/EURUSD-W-15052015-1024x464.png\" alt=\"EURUSD W 15052015\" width=\"1024\" height=\"464\" /></a>\r\n\r\n&nbsp;\r\n\r\nSupport in the EUR/USD is at 1.1340 with resistance is at 1.1495.\r\n\r\n<strong> </strong>\r\n\r\n<strong>GBP/USD: Closing Price 1.5726</strong>.\r\n\r\nThe move higher with cable has continued through last week. We saw another 300 pips or so added.\r\n\r\nMy comments for this pair are contained on the chart below.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/GBPUSD-W-15052015.png\"><img class=\"aligncenter size-large wp-image-5970\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/GBPUSD-W-15052015-1024x464.png\" alt=\"GBPUSD W 15052015\" width=\"1024\" height=\"464\" /></a>\r\n\r\n&nbsp;\r\n\r\nSupport should be at 1.5710 and resistance at 1.5855.\r\n\r\n<strong> </strong>\r\n\r\n<strong>AUD/USD: Closing Price 0.8038</strong>.\r\n\r\nThis pair is creeping higher week on week. My comments relating to this pair are contained on the chart below.\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/AUDUSD-W-15052015.png\"><img class=\"aligncenter size-large wp-image-5972\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/AUDUSD-W-15052015-1024x464.png\" alt=\"AUDUSD W 15052015\" width=\"1024\" height=\"464\" /></a>\r\n\r\n&nbsp;\r\n\r\nSupport should now be at 0.7950 and resistance at 0.8100.\r\n\r\n&nbsp;\r\n\r\n<strong>NZD/USD: Closing Price 0.7463</strong>.\r\n\r\nMy comments related to this pair are contained on the chart below.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/NZDUSD-W-15052015.png\"><img class=\"aligncenter size-large wp-image-5969\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/NZDUSD-W-15052015-1024x464.png\" alt=\"NZDUSD W 15052015\" width=\"1024\" height=\"464\" /></a>\r\n\r\n&nbsp;\r\n\r\nSupport is at 0.7420 and resistance is at 0.7540.\r\n\r\n&nbsp;\r\n\r\n<strong> </strong>\r\n\r\n<strong>USD/CAD: Closing Price 1.2015.</strong>\r\n\r\nI am looking to pick this pair up for a long side trade just below existing levels. I have my comments for this pair contained on the chart.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/USDCAD-W-15052015.png\"><img class=\"aligncenter size-large wp-image-5968\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/USDCAD-W-15052015-1024x464.png\" alt=\"USDCAD W 15052015\" width=\"1024\" height=\"464\" /></a>\r\n\r\n&nbsp;\r\n\r\nSupport should be good at 1.2000, if not then 1.1950. Resistance is at 1.2150.\r\n\r\n<strong> </strong><strong> </strong>\r\n\r\n<strong>USD/CHF: Closing Price 0.9157</strong>.\r\n\r\nMy comments for this pair are contained on the chart.\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/USDCHF-W-15052015.png\"><img class=\"aligncenter size-large wp-image-5967\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/USDCHF-W-15052015-1024x464.png\" alt=\"USDCHF W 15052015\" width=\"1024\" height=\"464\" /></a>\r\n\r\n&nbsp;\r\n\r\nSupport is at 0.9120 and resistance at 0.9350.\r\n\r\n&nbsp;\r\n\r\n<strong>USD/JPY: Closing Price 119.39. </strong>\r\n\r\nStill range bound.\r\n\r\nIf you are range trader enjoy… If not, then stay away.\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/USDJPY-W-15052015.png\"><img class=\"aligncenter size-large wp-image-5966\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/USDJPY-W-15052015-1024x464.png\" alt=\"USDJPY W 15052015\" width=\"1024\" height=\"464\" /></a>\r\n\r\n&nbsp;\r\n\r\nSupport is at 118.50 and resistance at 120.50.\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n<ol start=\"5\">\r\n	<li><strong><u> THE CONCLUSION - MY FINAL THOUGHTS:</u></strong></li>\r\n</ol>\r\n<u>5.1 - SUBSCRIBING TO THE “FREE VERSION” OF THE WEEKLY FX DRIVE THRU:</u>\r\n\r\n<u>5.2 –TRADING TIPS &amp; THOUGHTS FOR THE WEEK AHEAD: </u>\r\n\r\nThe blog will be back to it’s usual size next week.\r\n\r\nAs always, there will be trades to trade and there will be some great opportunities, please trade in line with your RISK MANAGEMENT parameters from your TRADING PLAN. If you do not have a TRADE PLAN, in my opinion, you should, as this will help you with consistency.\r\n<p style=\"text-align: center;\"><strong>Consistency = longevity in trading and that is a critical goal.\r\nIT IS THE KEY MEASUREMENT</strong></p>\r\nBefore you enter a trade work out the risk, price it in $$$. Place your stop accordingly. PREMIUM SERVICE subscribers have a full library of information on RISK MANAGEMENT, RISK TOLERANCES and POSITION SIZING etc. available for reference 24x7.\r\n\r\n&nbsp;\r\n\r\nTake care.\r\n\r\nScott Pickering\r\nThe Pip Accumulator\r\nSunday May 17th 2015\r\n\r\nEMAIL / FOLLOW ME AT:\r\npremiumservice@weeklyfxdrivethru.com\r\nTwitter: @pipaccumulator\r\nTwitter: @ThePremService\r\nGoogle+/scottpickering\r\nTumblr: thepipaccumulator\r\n\r\n&nbsp;\r\n\r\n<u>VIEWS AND COMMENTS IN THIS BLOG:</u>\r\n\r\nAll the comments and views expressed in my blog are my thoughts and ideas only. They are based on my FUNDAMENTAL views of the markets and my thoughts on the individuals concerned on how they manage positions in the public domain. In addition, I have my own thoughts and views about what I think goes on behind closed doors. You should NOT base any trade ideas on my thoughts and views alone. As I have said on many occasions in my blog, I am a FUNDAMENTAL trader first, then a TECHNICAL trader second using chart analysis to establish what I believe to be excellent trade entry positions. However, you must make up your own mind and trade at your own risk deciding if the entry levels I refer to actually meet with your views and thoughts. This makes complete sense as the risk in trading your account is 100% owned by you.\r\n\r\n<u>THIRD PARTY COMPANIES WITH BANNERS ON MY WEBSITE:</u>\r\n\r\nThere are a small number of companies with banners on my website. In the interests of full disclosure I have a reciprocal business arrangement with these companies to promote their products. Unlike many of my competitors, I use the products and services provided by these companies. I will NOT allow any third party on my website unless I am 100% happy that they can back up their promise. By virtue of the fact, I work with these companies almost daily. I am more than confident to have them advertise on my website. Any reader who buys products or services from any advertiser via a banner on my website, <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a> will automatically have my help and assistance with any issues that they may have with my partnered advertisers.\r\n\r\n<u>TRADING &amp; PERFORMANCES DISCLAIMER:</u>\r\n\r\nFLASH, RADAR and FUNDAMENTAL trade set-ups, “Tweets” and “Trade ideas” that are posted in my blogs or on Twitter are trades and set-ups that interest me. They are provided for training and informational purposes only and should not be interpreted as an offer, solicitation or recommendation of any specific security or investment strategy. Past performance is not indicative of future results. Trading Forex carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to trade any such leveraged products you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with trading on margin, and seek advice from an independent financial adviser if you have any doubts.','VICTORIA DAY WEEKEND - SHORTENED BLOG (GOLD SUBSCRIBERS ONLY)','','inherit','open','closed','','5984-revision-v1','','','2015-05-15 16:15:54','2015-05-15 21:15:54','',5984,'https://weeklyfxdrivethru.com/5984-revision-v1/',0,'revision','',0),(5987,1,'2015-05-16 07:32:58','2015-05-16 12:32:58','<p style=\"text-align: center;\"><strong>THE PREMIUM SERVICE\r\n</strong><strong>The Home of Single-Lot Trading\r\nwww.weeklyfxdrivethru.com</strong></p>\r\n<strong>DATE: 17.05.2015\r\nREFERENCE: #60\r\n</strong><strong>BLOG: THE PREMIUM SERVICE</strong>\r\n<ol>\r\n	<li><strong> INTRODUCTION - MY OVERVIEW OF THE FOREX MARKET:</strong></li>\r\n</ol>\r\nAs advised on twitter earlier in the week, I have a function this VICTORIA DAY holiday weekend. As a result of which, I am not able to complete the full blog. It will be back to normal size next weekend.\r\n\r\nIn addition,\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n<u>LOOKING BACKWARDS, FORWARDS &amp; SIDEWAYS (FOR GOOD MEASURE) AT THE FX MARKET:</u>\r\n\r\n<u>1.1 - LOOKING BACKWARDS:</u>\r\n\r\n<u>1.2 - LOOKING FORWARDS:</u>\r\n\r\n<u>MAJOR FOREX NEWS THIS WEEK THAT INTERESTS ME:</u>\r\n\r\n<u>(There are many more news items related to the Forex Market than the ones listed below. These are the ones that interest me. You can go to </u><a href=\"http://www.forexfactory.com\">www.forexfactory.com</a><u> and </u><a href=\"http://www.tradingeconomics.com\">www.tradingeconomics.com</a><u> for more comprehensive lists of all news events that are Forex related).</u>\r\nSUNDAY: N/A.\r\n\r\nMONDAY: AUD – Monetary Policy Meeting Minutes.\r\n\r\nTUESDAY: GBP - CPi.\r\nTUESDAY: EUR – German ZEW Economic Sentiment.\r\nTUESDAY: NZD – Dairy Auction Prices.\r\nTUESDAY: CAD – Words of wisdom from Stephen Poloz BOC.\r\n\r\nWEDNESDAY: USD – FOMC Meeting Minutes.\r\nWEDNESDAY: CNY – HSBC Flash Manufacturing PMi.\r\nWEDNESDAY: NZD – Annual Budget Release.\r\n\r\nTHURSDAY: EUR – French and German Manufacturing PMi.\r\nTHURSDAY: GBP – Retail Sales.\r\nFRIDAY: USD – Core CPi and CPi.\r\nFRIDAY: CAD – Core CPI and Core Retail Sales.\r\n\r\n&nbsp;\r\n\r\n<u>1.3 - LOOKING SIDEWAYS (FOR GOOD MEASURE):</u>\r\n\r\n&nbsp;\r\n<ol start=\"2\">\r\n	<li><strong><u> WHAT’S ON MY MIND: -\r\nTHE FUNDAMENTAL TRADERS OVERVIEW:</u></strong></li>\r\n</ol>\r\n<strong> </strong>\r\n<ol start=\"3\">\r\n	<li><strong><u> THE PREMIUM SERVICE:</u></strong></li>\r\n</ol>\r\n<strong><u>SUMMARY OF PERFORMANCE:</u></strong>\r\n\r\n<u>3.1 – OVERVIEW and SUBSCRIPTION OPTIONS, FEATURES and PRICING:</u>\r\n\r\n<u>3.2 - SUMMARY OF PERFORMANCE:</u>\r\n\r\n(Only the excel spreadsheets will now be shown in this section. References to previous, present and future trades “LAST WEEK’s TRADING REVIEW” will now be provided solely for the benefit of PREMIUM SERVICE subscribers and has been moved into section 4).\r\n\r\n<u>3.2.1 – PREMIUM SERVICE – COST INCOME ANALYSIS:\r\n</u>\r\n<p style=\"text-align: center;\"><strong>EMANATING FROM TRADE SET-UPS - 2015 to date:</strong></p>\r\n<p style=\"text-align: center;\"><u>MICRO LOT TRADER</u> - 349 trades cost to trade = $34.90\r\n<strong>PROFIT</strong> from 349 trades = <strong><u>$471.50</u></strong></p>\r\n<p style=\"text-align: center;\"><u>MINI LOT TRADER</u> - 349 trades cost to trade = $349.00\r\n<strong>PROFIT</strong> from 349 trades = <strong><u>$4,715.00</u></strong></p>\r\n<p style=\"text-align: center;\"><u>STANDARD LOT TRADER</u> - 349 trades cost to trade = $3,490.00\r\n<strong>PROFIT</strong> from 349 trades = <strong><u>$47,150.00</u></strong></p>\r\n<u>3.2.2 - PREMIUM SERVICE - OVERALL TRADE SUMMARY MONTH &amp; YTD:</u>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/PREM-SERV-PROFITS-1-17052015.png\"><img class=\"aligncenter size-full wp-image-5973\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/PREM-SERV-PROFITS-1-17052015.png\" alt=\"PREM SERV PROFITS 1 17052015\" width=\"456\" height=\"423\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/PREM-SERV-PROFITS2-17052015.png\"><img class=\"aligncenter size-full wp-image-5974\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/PREM-SERV-PROFITS2-17052015.png\" alt=\"PREM SERV PROFITS2 17052015\" width=\"461\" height=\"427\" /></a>\r\n\r\n&nbsp;\r\n<ol start=\"4\">\r\n	<li><strong><u> PREMIUM SERVICE SUBSCRIBER EXCLUSIVE CONTENT:</u></strong></li>\r\n</ol>\r\n(Section 4 is exclusive PREMIUM SERVICE content only available to PREMIUM SERVICE subscribers)\r\n\r\n<u>4.1 - EDUCATION:\r\n</u>(The full list of all items and more from this section can be found in the PREMIUM SERVICE website in the Trade Essential area under the EDUCATION tab.)\r\n\r\n<u>4.2 – THE PREMIUM SERVICE – TRADING REVIEW:</u>\r\n\r\nWoulda…. Coulda…. Shoulda.\r\n\r\nThe above just about sums up the week for me. I know that the PREMIUM SERVICE added great profits this week, but I let a lot more go. I also traded poorly in my own accounts away from the PREMIUM SERVICE. Several pullback trades were a disaster. To say that I am frustrated and annoyed would be an under statement of how I feel at the time of writing this section of the blog.\r\n\r\nWe took some nice profits on the cross-rates this week on a couple of occasions; I am now waiting for the pullback to re-enter again. I will be checking these entries over the next 48 hours. I am conscious of the fact the last time I was in this position I spent too much time trying to grab the best entry and missed so many trades.\r\n\r\nI am now just waiting on GREECE. I have several trades in the back pocket ready to go after the GREECE default is announced and the dust settles. I just cannot see a bailout being accepted and I am certain that these delays upon delays are just so GREECE can have its emergency measures in position: Monetary controls, Drachma introduction etc.\r\n\r\nI can only see this being the route to be adopted as the Athens government has had months now to come up with its package of measures to reach a fiscal agreement with its creditors. It’s all gone really quiet on that front in my opinion. I have trades at the ready.\r\n\r\nThe markets are still at extremes, the EUR/USD appears to be well over-bought in my opinion and 1.1500 should be the limit if we get there. These extremes are creating both choppy and then stale markets. It is awkward at times.\r\n\r\nThe smaller trade sized positions with wider stops are the most successful trades at the moment. It all comes back to RISK MANAGEMENT and POSITION SIZING.\r\n\r\nFinally, I want to explain in a little more detail why there aren\'t as many email alerts for RADAR and FUNDAMENTAL trades coming your way. It is due to the fact that as we have severe winters here just outside of Montreal, over 7-8 feet of snow per winter and temperatures of -20-30 celsius. In the summer at +20 +30 degrees I trade from the pavilion on the terrace using combination of LapTops and iPADs. My iMac has all the administration contained in its memory, therefore, as it is not portable, unless I am in my office Trade alerts will be via Twitter.\r\n\r\n&nbsp;\r\n\r\n<u>4.3 - THE PREMIUM SERVICE - EXISTING LIVE TRADES:</u>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/PS-LIVE-TRADES-17052015.png\"><img class=\"aligncenter size-full wp-image-5981\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/PS-LIVE-TRADES-17052015.png\" alt=\"PS LIVE TRADES 17052015\" width=\"722\" height=\"570\" /></a>\r\n\r\n&nbsp;\r\n\r\n<u>4.4 - THE PREMIUM SERVICE – EXISTING LIMIT ORDERS:</u>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/PS-LIMIT-ORDERS-17052015.png\"><img class=\"aligncenter size-full wp-image-5980\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/PS-LIMIT-ORDERS-17052015.png\" alt=\"PS LIMIT ORDERS 17052015\" width=\"708\" height=\"427\" /></a>\r\n\r\n<u>PLEASE NOTE:</u>\r\n\r\nRemember position sizes for suggested FUNDAMENTAL TRADES should be much smaller than usual, maybe only 20%-25% of your normal trading position size. It is only when we add to our positions that the fun begins. All FUNDAMENTAL trades posted via email contain a second page with details of where I will add trades and when and where stops are moved, the Stair Stepping Stop Protection (SSSP) is self-explanatory and I hope useful. Using this grows your trading position and helps protect the profits made, should the trade gain traction. In addition, I have added some detail on my HEDGING approach as well to the second FUNDAMENTAL TRADE alert page. More detailed information on HEDGING can be found inside the PREMIUM SERVICE website under the EDUCATION tab – Trading Essentials.\r\n\r\nI view the commodity cross-rate pairs, which form the basis of my FUNDAMENTAL TRADE SET-UPS as bonus trades away from the USD majors and over the year they can be very profitable. This is why I have a separate broker account for commodity cross-RATE PAIR trades. It gives me an immediate measurement of performance without the need to extrapolate data.\r\n\r\n<u>4.5 - POTENTIAL TRADES - WHAT CHARTS AM I LOOKING AT?</u>\r\n\r\n(This section usually contains charts mainly relating to non-USD majors, in particular the ones that I am working on and looking at because they catch my eye that may become potential trades in the trading sessions ahead. If there are no comments beneath the charts, my comments / thoughts are written on them directly. I will tweet and email as soon as these possible trades become LIMIT ORDERS)\r\n\r\n<u>THIS WEEKS OVERVIEW:</u>\r\n\r\nI will not be looking at charts until after the weekend. I will be looking at existing live trades at the open on Sunday night.\r\n\r\n<u> </u><u>4.6 - MAJOR TRADING PAIRS WITH LONGER-TERM TRENDS MATCHING:</u>\r\n\r\nThe 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/2015/05/PS-TRENDING-PAIRS-17052015.png\"><img class=\"aligncenter size-full wp-image-5982\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/PS-TRENDING-PAIRS-17052015.png\" alt=\"PS TRENDING PAIRS 17052015\" width=\"398\" height=\"512\" /></a>\r\n\r\n<u>4.7 - THE KEY SUPPORT &amp; RESISTANCE LEVELS WITH THE USD MAJORS</u><strong><u>:\r\n</u></strong>(The reviews in the section are accompanied with weekly charts of the USD majors)\r\n\r\n<strong>EUR/USD: Closing Price 1.1447</strong>\r\n\r\nWe closed the week on a squeeze. The squeeze emanated from 3 pieces of bad economic data released in the U.S. on Friday. In addition we had the EUR Bunds playing games and the DAX as well. Tempted as I was to set up a EUR/USD late on Friday evening, I decided not to as my entire set of broker accounts had negative balances and in addition, I had enough RISK EXPOSURE. I also had a EUR/GBP short trade in play, so in essence I was already in a EUR short trade.\r\n\r\nThe chart below contains a few more of my thoughts.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/EURUSD-W-15052015.png\"><img class=\"aligncenter size-large wp-image-5971\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/EURUSD-W-15052015-1024x464.png\" alt=\"EURUSD W 15052015\" width=\"1024\" height=\"464\" /></a>\r\n\r\n&nbsp;\r\n\r\nSupport in the EUR/USD is at 1.1340 with resistance is at 1.1495.\r\n\r\n<strong> </strong>\r\n\r\n<strong>GBP/USD: Closing Price 1.5726</strong>.\r\n\r\nThe move higher with cable has continued through last week. We saw another 300 pips or so added.\r\n\r\nMy comments for this pair are contained on the chart below.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/GBPUSD-W-15052015.png\"><img class=\"aligncenter size-large wp-image-5970\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/GBPUSD-W-15052015-1024x464.png\" alt=\"GBPUSD W 15052015\" width=\"1024\" height=\"464\" /></a>\r\n\r\n&nbsp;\r\n\r\nSupport should be at 1.5710 and resistance at 1.5855.\r\n\r\n<strong> </strong>\r\n\r\n<strong>AUD/USD: Closing Price 0.8038</strong>.\r\n\r\nThis pair is creeping higher week on week. My comments relating to this pair are contained on the chart below.\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/AUDUSD-W-15052015.png\"><img class=\"aligncenter size-large wp-image-5972\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/AUDUSD-W-15052015-1024x464.png\" alt=\"AUDUSD W 15052015\" width=\"1024\" height=\"464\" /></a>\r\n\r\n&nbsp;\r\n\r\nSupport should now be at 0.7950 and resistance at 0.8100.\r\n\r\n&nbsp;\r\n\r\n<strong>NZD/USD: Closing Price 0.7463</strong>.\r\n\r\nMy comments related to this pair are contained on the chart below.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/NZDUSD-W-15052015.png\"><img class=\"aligncenter size-large wp-image-5969\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/NZDUSD-W-15052015-1024x464.png\" alt=\"NZDUSD W 15052015\" width=\"1024\" height=\"464\" /></a>\r\n\r\n&nbsp;\r\n\r\nSupport is at 0.7420 and resistance is at 0.7540.\r\n\r\n&nbsp;\r\n\r\n<strong> </strong>\r\n\r\n<strong>USD/CAD: Closing Price 1.2015.</strong>\r\n\r\nI am looking to pick this pair up for a long side trade just below existing levels. I have my comments for this pair contained on the chart.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/USDCAD-W-15052015.png\"><img class=\"aligncenter size-large wp-image-5968\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/USDCAD-W-15052015-1024x464.png\" alt=\"USDCAD W 15052015\" width=\"1024\" height=\"464\" /></a>\r\n\r\n&nbsp;\r\n\r\nSupport should be good at 1.2000, if not then 1.1950. Resistance is at 1.2150.\r\n\r\n<strong> </strong><strong> </strong>\r\n\r\n<strong>USD/CHF: Closing Price 0.9157</strong>.\r\n\r\nMy comments for this pair are contained on the chart.\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/USDCHF-W-15052015.png\"><img class=\"aligncenter size-large wp-image-5967\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/USDCHF-W-15052015-1024x464.png\" alt=\"USDCHF W 15052015\" width=\"1024\" height=\"464\" /></a>\r\n\r\n&nbsp;\r\n\r\nSupport is at 0.9120 and resistance at 0.9350.\r\n\r\n&nbsp;\r\n\r\n<strong>USD/JPY: Closing Price 119.39. </strong>\r\n\r\nStill range bound.\r\n\r\nIf you are range trader enjoy… If not, then stay away.\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/USDJPY-W-15052015.png\"><img class=\"aligncenter size-large wp-image-5966\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/USDJPY-W-15052015-1024x464.png\" alt=\"USDJPY W 15052015\" width=\"1024\" height=\"464\" /></a>\r\n\r\n&nbsp;\r\n\r\nSupport is at 118.50 and resistance at 120.50.\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n<ol start=\"5\">\r\n	<li><strong><u> THE CONCLUSION - MY FINAL THOUGHTS:</u></strong></li>\r\n</ol>\r\n<u>5.1 - SUBSCRIBING TO THE “FREE VERSION” OF THE WEEKLY FX DRIVE THRU:</u>\r\n\r\n<u>5.2 –TRADING TIPS &amp; THOUGHTS FOR THE WEEK AHEAD: </u>\r\n\r\nThe blog will be back to it’s usual size next week.\r\n\r\nAs always, there will be trades to trade and there will be some great opportunities, please trade in line with your RISK MANAGEMENT parameters from your TRADING PLAN. If you do not have a TRADE PLAN, in my opinion, you should, as this will help you with consistency.\r\n<p style=\"text-align: center;\"><strong>Consistency = longevity in trading and that is a critical goal.\r\nIT IS THE KEY MEASUREMENT</strong></p>\r\nBefore you enter a trade work out the risk, price it in $$$. Place your stop accordingly. PREMIUM SERVICE subscribers have a full library of information on RISK MANAGEMENT, RISK TOLERANCES and POSITION SIZING etc. available for reference 24x7.\r\n\r\n&nbsp;\r\n\r\nTake care.\r\n\r\nScott Pickering\r\nThe Pip Accumulator\r\nSunday May 17th 2015\r\n\r\nEMAIL / FOLLOW ME AT:\r\npremiumservice@weeklyfxdrivethru.com\r\nTwitter: @pipaccumulator\r\nTwitter: @ThePremService\r\nGoogle+/scottpickering\r\nTumblr: thepipaccumulator\r\n\r\n&nbsp;\r\n\r\n<u>VIEWS AND COMMENTS IN THIS BLOG:</u>\r\n\r\nAll the comments and views expressed in my blog are my thoughts and ideas only. They are based on my FUNDAMENTAL views of the markets and my thoughts on the individuals concerned on how they manage positions in the public domain. In addition, I have my own thoughts and views about what I think goes on behind closed doors. You should NOT base any trade ideas on my thoughts and views alone. As I have said on many occasions in my blog, I am a FUNDAMENTAL trader first, then a TECHNICAL trader second using chart analysis to establish what I believe to be excellent trade entry positions. However, you must make up your own mind and trade at your own risk deciding if the entry levels I refer to actually meet with your views and thoughts. This makes complete sense as the risk in trading your account is 100% owned by you.\r\n\r\n<u>THIRD PARTY COMPANIES WITH BANNERS ON MY WEBSITE:</u>\r\n\r\nThere are a small number of companies with banners on my website. In the interests of full disclosure I have a reciprocal business arrangement with these companies to promote their products. Unlike many of my competitors, I use the products and services provided by these companies. I will NOT allow any third party on my website unless I am 100% happy that they can back up their promise. By virtue of the fact, I work with these companies almost daily. I am more than confident to have them advertise on my website. Any reader who buys products or services from any advertiser via a banner on my website, <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a> will automatically have my help and assistance with any issues that they may have with my partnered advertisers.\r\n\r\n<u>TRADING &amp; PERFORMANCES DISCLAIMER:</u>\r\n\r\nFLASH, RADAR and FUNDAMENTAL trade set-ups, “Tweets” and “Trade ideas” that are posted in my blogs or on Twitter are trades and set-ups that interest me. They are provided for training and informational purposes only and should not be interpreted as an offer, solicitation or recommendation of any specific security or investment strategy. Past performance is not indicative of future results. Trading Forex carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to trade any such leveraged products you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with trading on margin, and seek advice from an independent financial adviser if you have any doubts.','VICTORIA DAY WEEKEND - SHORTENED BLOG (GOLD SUBSCRIBERS ONLY)','','inherit','open','closed','','5984-revision-v1','','','2015-05-16 07:32:58','2015-05-16 12:32:58','',5984,'https://weeklyfxdrivethru.com/5984-revision-v1/',0,'revision','',0),(5988,1,'2015-05-16 07:39:59','2015-05-16 12:39:59','<p style=\"text-align: center;\"><strong>THE PREMIUM SERVICE\r\n</strong><strong>The Home of Single-Lot Trading\r\nwww.weeklyfxdrivethru.com</strong></p>\r\n<strong>DATE: 17.05.2015\r\nREFERENCE: #60\r\n</strong><strong>BLOG: THE PREMIUM SERVICE</strong>\r\n<ol>\r\n	<li><strong> INTRODUCTION - MY OVERVIEW OF THE FOREX MARKET:</strong></li>\r\n</ol>\r\nAs advised on twitter earlier in the week, I have a function this VICTORIA DAY holiday weekend. As a result of which, I am not able to complete the full blog. It will be back to normal size next weekend.\r\n\r\nIn addition, over the past 7-10 days, I am hoping that those of you who regularly visit the web site would have noticed a speed improvement when surfing through content. Stages 1 and 2 of a 4 part change process have now been completed.\r\n\r\nFinally, to keep things fresh, I am going to re-visit the blog content once again. I have randomly chosen 10 GOLD subscribers to offer ideas and to review my thoughts. I want to have these changes up and running for the next blog if possible. I have left the current structured heading in place this week, purely and simply to help me with next weeks construction of the blog.\r\n\r\n&nbsp;\r\n\r\n<u>LOOKING BACKWARDS, FORWARDS &amp; SIDEWAYS (FOR GOOD MEASURE) AT THE FX MARKET:</u>\r\n\r\n<u>1.1 - LOOKING BACKWARDS:</u>\r\n\r\n<u>1.2 - LOOKING FORWARDS:</u>\r\n\r\n<u>MAJOR FOREX NEWS THIS WEEK THAT INTERESTS ME:</u>\r\n\r\n<u>(There are many more news items related to the Forex Market than the ones listed below. These are the ones that interest me. You can go to </u><a href=\"http://www.forexfactory.com\">www.forexfactory.com</a><u> and </u><a href=\"http://www.tradingeconomics.com\">www.tradingeconomics.com</a><u> for more comprehensive lists of all news events that are Forex related).</u>\r\nSUNDAY: N/A.\r\n\r\nMONDAY: AUD – Monetary Policy Meeting Minutes.\r\n\r\nTUESDAY: GBP - CPi.\r\nTUESDAY: EUR – German ZEW Economic Sentiment.\r\nTUESDAY: NZD – Dairy Auction Prices.\r\nTUESDAY: CAD – Words of wisdom from Stephen Poloz BOC.\r\n\r\nWEDNESDAY: USD – FOMC Meeting Minutes.\r\nWEDNESDAY: CNY – HSBC Flash Manufacturing PMi.\r\nWEDNESDAY: NZD – Annual Budget Release.\r\n\r\nTHURSDAY: EUR – French and German Manufacturing PMi.\r\nTHURSDAY: GBP – Retail Sales.\r\nFRIDAY: USD – Core CPi and CPi.\r\nFRIDAY: CAD – Core CPI and Core Retail Sales.\r\n\r\n&nbsp;\r\n\r\n<u>1.3 - LOOKING SIDEWAYS (FOR GOOD MEASURE):</u>\r\n\r\n&nbsp;\r\n<ol start=\"2\">\r\n	<li><strong><u> WHAT’S ON MY MIND: -\r\nTHE FUNDAMENTAL TRADERS OVERVIEW:</u></strong></li>\r\n</ol>\r\n<strong> </strong>\r\n<ol start=\"3\">\r\n	<li><strong><u> THE PREMIUM SERVICE:</u></strong></li>\r\n</ol>\r\n<strong><u>SUMMARY OF PERFORMANCE:</u></strong>\r\n\r\n<u>3.1 – OVERVIEW and SUBSCRIPTION OPTIONS, FEATURES and PRICING:</u>\r\n\r\n<u>3.2 - SUMMARY OF PERFORMANCE:</u>\r\n\r\n(Only the excel spreadsheets will now be shown in this section. References to previous, present and future trades “LAST WEEK’s TRADING REVIEW” will now be provided solely for the benefit of PREMIUM SERVICE subscribers and has been moved into section 4).\r\n\r\n<u>3.2.1 – PREMIUM SERVICE – COST INCOME ANALYSIS:\r\n</u>\r\n<p style=\"text-align: center;\"><strong>EMANATING FROM TRADE SET-UPS - 2015 to date:</strong></p>\r\n<p style=\"text-align: center;\"><u>MICRO LOT TRADER</u> - 349 trades cost to trade = $34.90\r\n<strong>PROFIT</strong> from 349 trades = <strong><u>$471.50</u></strong></p>\r\n<p style=\"text-align: center;\"><u>MINI LOT TRADER</u> - 349 trades cost to trade = $349.00\r\n<strong>PROFIT</strong> from 349 trades = <strong><u>$4,715.00</u></strong></p>\r\n<p style=\"text-align: center;\"><u>STANDARD LOT TRADER</u> - 349 trades cost to trade = $3,490.00\r\n<strong>PROFIT</strong> from 349 trades = <strong><u>$47,150.00</u></strong></p>\r\n<u>3.2.2 - PREMIUM SERVICE - OVERALL TRADE SUMMARY MONTH &amp; YTD:</u>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/PREM-SERV-PROFITS-1-17052015.png\"><img class=\"aligncenter size-full wp-image-5973\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/PREM-SERV-PROFITS-1-17052015.png\" alt=\"PREM SERV PROFITS 1 17052015\" width=\"456\" height=\"423\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/PREM-SERV-PROFITS2-17052015.png\"><img class=\"aligncenter size-full wp-image-5974\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/PREM-SERV-PROFITS2-17052015.png\" alt=\"PREM SERV PROFITS2 17052015\" width=\"461\" height=\"427\" /></a>\r\n\r\n&nbsp;\r\n<ol start=\"4\">\r\n	<li><strong><u> PREMIUM SERVICE SUBSCRIBER EXCLUSIVE CONTENT:</u></strong></li>\r\n</ol>\r\n(Section 4 is exclusive PREMIUM SERVICE content only available to PREMIUM SERVICE subscribers)\r\n\r\n<u>4.1 - EDUCATION:\r\n</u>(The full list of all items and more from this section can be found in the PREMIUM SERVICE website in the Trade Essential area under the EDUCATION tab.)\r\n\r\n<u>4.2 – THE PREMIUM SERVICE – TRADING REVIEW:</u>\r\n\r\nWoulda…. Coulda…. Shoulda.\r\n\r\nThe above just about sums up the week for me. I know that the PREMIUM SERVICE added great profits this week, but I let a lot more go. I also traded poorly in my own accounts away from the PREMIUM SERVICE. Several pullback trades were a disaster. To say that I am frustrated and annoyed would be an under statement of how I feel at the time of writing this section of the blog.\r\n\r\nWe took some nice profits on the cross-rates this week on a couple of occasions; I am now waiting for the pullback to re-enter again. I will be checking these entries over the next 48 hours. I am conscious of the fact the last time I was in this position I spent too much time trying to grab the best entry and missed so many trades.\r\n\r\nI am now just waiting on GREECE. I have several trades in the back pocket ready to go after the GREECE default is announced and the dust settles. I just cannot see a bailout being accepted and I am certain that these delays upon delays are just so GREECE can have its emergency measures in position: Monetary controls, Drachma introduction etc.\r\n\r\nI can only see this being the route to be adopted as the Athens government has had months now to come up with its package of measures to reach a fiscal agreement with its creditors. It’s all gone really quiet on that front in my opinion. I have trades at the ready.\r\n\r\nThe markets are still at extremes, the EUR/USD appears to be well over-bought in my opinion and 1.1500 should be the limit if we get there. These extremes are creating both choppy and then stale markets. It is awkward at times.\r\n\r\nThe smaller trade sized positions with wider stops are the most successful trades at the moment. It all comes back to RISK MANAGEMENT and POSITION SIZING.\r\n\r\nFinally, I want to explain in a little more detail why there aren\'t as many email alerts for RADAR and FUNDAMENTAL trades coming your way. It is due to the fact that as we have severe winters here just outside of Montreal, over 7-8 feet of snow per winter and temperatures of -20-30 celsius. In the summer at +20 +30 degrees I trade from the pavilion on the terrace using combination of LapTops and iPADs. My iMac has all the administration contained in its memory, therefore, as it is not portable, unless I am in my office Trade alerts will be via Twitter.\r\n\r\n&nbsp;\r\n\r\n<u>4.3 - THE PREMIUM SERVICE - EXISTING LIVE TRADES:</u>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/PS-LIVE-TRADES-17052015.png\"><img class=\"aligncenter size-full wp-image-5981\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/PS-LIVE-TRADES-17052015.png\" alt=\"PS LIVE TRADES 17052015\" width=\"722\" height=\"570\" /></a>\r\n\r\n&nbsp;\r\n\r\n<u>4.4 - THE PREMIUM SERVICE – EXISTING LIMIT ORDERS:</u>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/PS-LIMIT-ORDERS-17052015.png\"><img class=\"aligncenter size-full wp-image-5980\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/PS-LIMIT-ORDERS-17052015.png\" alt=\"PS LIMIT ORDERS 17052015\" width=\"708\" height=\"427\" /></a>\r\n\r\n<u>PLEASE NOTE:</u>\r\n\r\nRemember position sizes for suggested FUNDAMENTAL TRADES should be much smaller than usual, maybe only 20%-25% of your normal trading position size. It is only when we add to our positions that the fun begins. All FUNDAMENTAL trades posted via email contain a second page with details of where I will add trades and when and where stops are moved, the Stair Stepping Stop Protection (SSSP) is self-explanatory and I hope useful. Using this grows your trading position and helps protect the profits made, should the trade gain traction. In addition, I have added some detail on my HEDGING approach as well to the second FUNDAMENTAL TRADE alert page. More detailed information on HEDGING can be found inside the PREMIUM SERVICE website under the EDUCATION tab – Trading Essentials.\r\n\r\nI view the commodity cross-rate pairs, which form the basis of my FUNDAMENTAL TRADE SET-UPS as bonus trades away from the USD majors and over the year they can be very profitable. This is why I have a separate broker account for commodity cross-RATE PAIR trades. It gives me an immediate measurement of performance without the need to extrapolate data.\r\n\r\n<u>4.5 - POTENTIAL TRADES - WHAT CHARTS AM I LOOKING AT?</u>\r\n\r\n(This section usually contains charts mainly relating to non-USD majors, in particular the ones that I am working on and looking at because they catch my eye that may become potential trades in the trading sessions ahead. If there are no comments beneath the charts, my comments / thoughts are written on them directly. I will tweet and email as soon as these possible trades become LIMIT ORDERS)\r\n\r\n<u>THIS WEEKS OVERVIEW:</u>\r\n\r\nI will not be looking at charts until after the weekend. I will be looking at existing live trades at the open on Sunday night.\r\n\r\n<u> </u><u>4.6 - MAJOR TRADING PAIRS WITH LONGER-TERM TRENDS MATCHING:</u>\r\n\r\nThe 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/2015/05/PS-TRENDING-PAIRS-17052015.png\"><img class=\"aligncenter size-full wp-image-5982\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/PS-TRENDING-PAIRS-17052015.png\" alt=\"PS TRENDING PAIRS 17052015\" width=\"398\" height=\"512\" /></a>\r\n\r\n<u>4.7 - THE KEY SUPPORT &amp; RESISTANCE LEVELS WITH THE USD MAJORS</u><strong><u>:\r\n</u></strong>(The reviews in the section are accompanied with weekly charts of the USD majors.\r\n\r\n<strong>EUR/USD: Closing Price 1.1447</strong>\r\n\r\nWe closed the week on a squeeze. The squeeze emanated from 3 pieces of bad economic data released in the U.S. on Friday. In addition we had the EUR Bunds playing games and the DAX as well. Tempted as I was to set up a EUR/USD late on Friday evening, I decided not to as my entire set of broker accounts had negative balances and in addition, I had enough RISK EXPOSURE. I also had a EUR/GBP short trade in play, so in essence I was already in a EUR short trade.\r\n\r\nThe chart below contains a few more of my thoughts.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/EURUSD-W-15052015.png\"><img class=\"aligncenter size-large wp-image-5971\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/EURUSD-W-15052015-1024x464.png\" alt=\"EURUSD W 15052015\" width=\"1024\" height=\"464\" /></a>\r\n\r\n&nbsp;\r\n\r\nSupport in the EUR/USD is at 1.1340 with resistance is at 1.1495.\r\n\r\n<strong> </strong>\r\n\r\n<strong>GBP/USD: Closing Price 1.5726</strong>.\r\n\r\nThe move higher with cable has continued through last week. We saw another 300 pips or so added.\r\n\r\nMy comments for this pair are contained on the chart below.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/GBPUSD-W-15052015.png\"><img class=\"aligncenter size-large wp-image-5970\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/GBPUSD-W-15052015-1024x464.png\" alt=\"GBPUSD W 15052015\" width=\"1024\" height=\"464\" /></a>\r\n\r\n&nbsp;\r\n\r\nSupport should be at 1.5710 and resistance at 1.5855.\r\n\r\n<strong> </strong>\r\n\r\n<strong>AUD/USD: Closing Price 0.8038</strong>.\r\n\r\nThis pair is creeping higher week on week. My comments relating to this pair are contained on the chart below.\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/AUDUSD-W-15052015.png\"><img class=\"aligncenter size-large wp-image-5972\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/AUDUSD-W-15052015-1024x464.png\" alt=\"AUDUSD W 15052015\" width=\"1024\" height=\"464\" /></a>\r\n\r\n&nbsp;\r\n\r\nSupport should now be at 0.7950 and resistance at 0.8100.\r\n\r\n&nbsp;\r\n\r\n<strong>NZD/USD: Closing Price 0.7463</strong>.\r\n\r\nMy comments related to this pair are contained on the chart below.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/NZDUSD-W-15052015.png\"><img class=\"aligncenter size-large wp-image-5969\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/NZDUSD-W-15052015-1024x464.png\" alt=\"NZDUSD W 15052015\" width=\"1024\" height=\"464\" /></a>\r\n\r\n&nbsp;\r\n\r\nSupport is at 0.7420 and resistance is at 0.7540.\r\n\r\n&nbsp;\r\n\r\n<strong> </strong>\r\n\r\n<strong>USD/CAD: Closing Price 1.2015.</strong>\r\n\r\nI am looking to pick this pair up for a long side trade just below existing levels. I have my comments for this pair contained on the chart.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/USDCAD-W-15052015.png\"><img class=\"aligncenter size-large wp-image-5968\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/USDCAD-W-15052015-1024x464.png\" alt=\"USDCAD W 15052015\" width=\"1024\" height=\"464\" /></a>\r\n\r\n&nbsp;\r\n\r\nSupport should be good at 1.2000, if not then 1.1950. Resistance is at 1.2150.\r\n\r\n<strong> </strong><strong> </strong>\r\n\r\n<strong>USD/CHF: Closing Price 0.9157</strong>.\r\n\r\nMy comments for this pair are contained on the chart.\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/USDCHF-W-15052015.png\"><img class=\"aligncenter size-large wp-image-5967\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/USDCHF-W-15052015-1024x464.png\" alt=\"USDCHF W 15052015\" width=\"1024\" height=\"464\" /></a>\r\n\r\n&nbsp;\r\n\r\nSupport is at 0.9120 and resistance at 0.9350.\r\n\r\n&nbsp;\r\n\r\n<strong>USD/JPY: Closing Price 119.39. </strong>\r\n\r\nStill range bound.\r\n\r\nIf you are range trader enjoy… If not, then stay away.\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/USDJPY-W-15052015.png\"><img class=\"aligncenter size-large wp-image-5966\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/USDJPY-W-15052015-1024x464.png\" alt=\"USDJPY W 15052015\" width=\"1024\" height=\"464\" /></a>\r\n\r\n&nbsp;\r\n\r\nSupport is at 118.50 and resistance at 120.50.\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n<ol start=\"5\">\r\n	<li><strong><u> THE CONCLUSION - MY FINAL THOUGHTS:</u></strong></li>\r\n</ol>\r\n<u>5.1 - SUBSCRIBING TO THE “FREE VERSION” OF THE WEEKLY FX DRIVE THRU:</u>\r\n\r\n<u>5.2 –TRADING TIPS &amp; THOUGHTS FOR THE WEEK AHEAD: </u>\r\n\r\nThe blog will be back to it’s usual size next week.\r\n\r\nAs always, there will be trades to trade and there will be some great opportunities, please trade in line with your RISK MANAGEMENT parameters from your TRADING PLAN. If you do not have a TRADE PLAN, in my opinion, you should, as this will help you with consistency.\r\n<p style=\"text-align: center;\"><strong>Consistency = longevity in trading and that is a critical goal.\r\nIT IS THE KEY MEASUREMENT</strong></p>\r\nBefore you enter a trade work out the risk, price it in $$$. Place your stop accordingly. PREMIUM SERVICE subscribers have a full library of information on RISK MANAGEMENT, RISK TOLERANCES and POSITION SIZING etc. available for reference 24x7.\r\n\r\n&nbsp;\r\n\r\nTake care.\r\n\r\nScott Pickering\r\nThe Pip Accumulator\r\nSunday May 17th 2015\r\n\r\nEMAIL / FOLLOW ME AT:\r\npremiumservice@weeklyfxdrivethru.com\r\nTwitter: @pipaccumulator\r\nTwitter: @ThePremService\r\nGoogle+/scottpickering\r\nTumblr: thepipaccumulator\r\n\r\n&nbsp;\r\n\r\n<u>VIEWS AND COMMENTS IN THIS BLOG:</u>\r\n\r\nAll the comments and views expressed in my blog are my thoughts and ideas only. They are based on my FUNDAMENTAL views of the markets and my thoughts on the individuals concerned on how they manage positions in the public domain. In addition, I have my own thoughts and views about what I think goes on behind closed doors. You should NOT base any trade ideas on my thoughts and views alone. As I have said on many occasions in my blog, I am a FUNDAMENTAL trader first, then a TECHNICAL trader second using chart analysis to establish what I believe to be excellent trade entry positions. However, you must make up your own mind and trade at your own risk deciding if the entry levels I refer to actually meet with your views and thoughts. This makes complete sense as the risk in trading your account is 100% owned by you.\r\n\r\n<u>THIRD PARTY COMPANIES WITH BANNERS ON MY WEBSITE:</u>\r\n\r\nThere are a small number of companies with banners on my website. In the interests of full disclosure I have a reciprocal business arrangement with these companies to promote their products. Unlike many of my competitors, I use the products and services provided by these companies. I will NOT allow any third party on my website unless I am 100% happy that they can back up their promise. By virtue of the fact, I work with these companies almost daily. I am more than confident to have them advertise on my website. Any reader who buys products or services from any advertiser via a banner on my website, <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a> will automatically have my help and assistance with any issues that they may have with my partnered advertisers.\r\n\r\n<u>TRADING &amp; PERFORMANCES DISCLAIMER:</u>\r\n\r\nFLASH, RADAR and FUNDAMENTAL trade set-ups, “Tweets” and “Trade ideas” that are posted in my blogs or on Twitter are trades and set-ups that interest me. They are provided for training and informational purposes only and should not be interpreted as an offer, solicitation or recommendation of any specific security or investment strategy. Past performance is not indicative of future results. Trading Forex carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to trade any such leveraged products you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with trading on margin, and seek advice from an independent financial adviser if you have any doubts.','VICTORIA DAY WEEKEND - SHORTENED BLOG (GOLD SUBSCRIBERS ONLY)','','inherit','open','closed','','5984-revision-v1','','','2015-05-16 07:39:59','2015-05-16 12:39:59','',5984,'https://weeklyfxdrivethru.com/5984-revision-v1/',0,'revision','',0),(6022,1,'2015-05-23 14:24:09','2015-05-23 19:24:09','<h3 style=\"text-align: center;\"><strong>THE PREMIUM SERVICE\r\n</strong><strong>The Home of Single-Lot Trading\r\nwww.weeklyfxdrivethru.com</strong></h3>\r\n<strong>DATE: 24.05.2015\r\nREFERENCE: #61\r\n</strong><strong>BLOG: THE PREMIUM SERVICE</strong>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n<ol>\r\n	<li><strong> INTRODUCTION - MY OVERVIEW OF THE FOREX MARKET:</strong></li>\r\n</ol>\r\n<u>LOOKING BACKWARDS, FORWARDS &amp; SIDEWAYS (FOR GOOD MEASURE) AT THE FX MARKET:</u>\r\n\r\n<u>1.1 - LOOKING BACKWARDS:</u>\r\n\r\nIt was a strange trading week. It wasn’t the first strange one this year and without question, I think that I am safe to say that it will not be the last one either. I had to travel a little during the week so from my own trading perspective it was a little dis-jointed, but I also know that many subscribers found the week weird to trade for a number of factors and that they were tied to their computers all week.\r\n\r\nFOMC MEETING MINUTES:\r\n\r\nThese always achieve premier billing when the week’s news is reviewed. The hype over when the FED will raise interest rates in the U.S. quite frankly now borders on the ridiculous. When will it happen…. as Frasier Crane once stated “Time is irrelevant here in the 7<sup>th</sup> circle of hell……this is the place where even despair dies”. This is how I feel on the subject. Will someone please stick a “red hot poker” up the collective ass of the FED and just do it. Feck the bloody data, it is always going to be mixed at best this year…do it …be done and lets move on.\r\n\r\nIf I hear Steve Liesman on CNBC anymore, whining about FED language and the data, I think I will be on Knob Creek and Diets for breakfast to accompany my famous, and, without doubt, best in the world Montreal bagel from Fairmont Bagel. I know that I am originally from Liverpool and have a low patience tolerance but give me a fecking break.\r\n\r\nMoving on from the pleasantries, the minutes were neither one thing nor the other. Even the friggin FOMC committee is bored with when they should raise rates and what language should be released in the minutes. It looks like a hike in June is not going to happen but hey, never say never. September looks favourite now, but about a week ago it was never going to happen in 2015 the consumer data was sooooooo bad.\r\n\r\nIt’s all about Wall Street. The fund managers who suckle on the teat of the FED and cannot manage without their hands being held are now so spoilt, they expect the FED to say that it will happen precisely on this day at this time. Bernanke did a great job in my opinion but my God, he has spoilt Wall Street.\r\n\r\nI question who runs the U.S. Its not the dysfunctional idiots in Washington who were elected by the people. All they do is inter-party squabble and place party and personal politics ahead of the countries national interest. Is it the FED that runs the U.S.? At times they appear to be one with Wall Street and not Main Street. Who looks after the people that need help in the U.S.? That is another blog to write…\r\n\r\nEUROZONE PMi DATA and GERMAN ZEW AND IFO DATA:\r\n\r\nRather mixed in my opinion. Taking a view from a macro level. The EUROZONE data looks to be mainly improving, however, German data is not consistent. It is good to see French and Spanish data generally improving, but Italy must now be a concern. After GREECE defaults, the markets will be pressurizing the Italians next, and if, as I expect the Greeks are back with the Drachma, the Italians will want the Lira. The CONTAGION begins.\r\n\r\nU.S. and CANADIAN CPi DATA:\r\n\r\nCanadian Data was weaker than expected but the U.S. data on Consumer Prices was strong, sending the DXY higher (see below).\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/CPi-DATA-24052015.png\"><img class=\"aligncenter size-full wp-image-5990\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/CPi-DATA-24052015.png\" alt=\"CPi DATA 24052015\" width=\"816\" height=\"160\" /></a>\r\n\r\nQuite frankly, the DXY looks to be in a bullish A+D = C=D style pattern, which, if (and it is a big if)…it plays out could place the DXY at 115.00. Where would that place the EUR/USD? Sub parity for sure.\r\n\r\nLast Friday, on the back of consumer prices the USD went crazy taking the EUR/USD from 1.1160 to 1.0970 at one point before pulling back a little.\r\n\r\nInside Section 4 there is a chart of the USD Index (DXY) that I have included showing the potential of the DXY potential measured move and what this potentially means for us as Forex Traders from just one currency pair. I hope that I can expand on this matter next week.\r\n\r\nSince the CPi data release, I have not viewed CNBC or BLOOMBERG as I do not think that I could take the commentary. It is amazing what a little bit of inflation data can do.\r\n\r\n&nbsp;\r\n\r\n<u>1.2 - LOOKING FORWARDS:</u>\r\n\r\n<u>MAJOR FOREX NEWS THIS WEEK THAT INTERESTS ME:</u>\r\n\r\n<u>(There are many more news items related to the Forex Market than the ones listed below. These are the ones that interest me. You can go to </u><a href=\"http://www.forexfactory.com\">www.forexfactory.com</a><u> and </u><a href=\"http://www.tradingeconomics.com\">www.tradingeconomics.com</a><u> for more comprehensive lists of all news events that are Forex related).</u>\r\nSUNDAY: N/A.\r\n\r\nMONDAY: NZD – Trade Balance.\r\n\r\nTUESDAY: USD - CB Consumer Confidence.\r\n\r\nWEDNESDAY: BOC – Rate Statement.\r\nWEDNESDAY: AUD – PCE Data.\r\n\r\nTHURSDAY: NZD – ANZ Business Confidence.\r\n\r\nFRIDAY: GBP – GDP.\r\nFRIDAY: USD – GDP.\r\nFRIDAY: CAD – GDP.\r\n\r\n&nbsp;\r\n\r\n<u>1.3 - LOOKING SIDEWAYS (FOR GOOD MEASURE!!): </u>\r\n\r\nWhilst this blog goes as a FREE NEWSLETTER to subscribers via THE WEEKLY FX DRIVE THRU web site, it is essentially a review for my PREMIUM SERVICE GOLD SUBSCRIBERS. Part of the blog is only for GOLD SUBSCRIBERS for obvious reasons and basically those who subscribe through my website or access it via social media get a feel for what is provided through the other “open” sections. This section refers to correspondence with subscribers over the past 7 days.\r\n\r\nThe main theme or questions, views and comments this week were: -\r\n\r\nTRADING CONDITIONS and PROFITABILITY:\r\n\r\nIt is hard at the moment and I am saying this after a really good week of PREMIUM SERVICE trading. As I have told several of you, my own trading account varies in profitability from the PREMIUM SERVICE account. I operate the PREMIUM SERVICE account with single lot trades. These are placed across 4 different broker accounts.\r\n<ul>\r\n	<li>1 - COMMODITY X RATE PAIRS &amp; FUNDAMENTAL TRADES.</li>\r\n	<li>2 – RADAR TRADES (USD MAJORS).</li>\r\n	<li>3 – FLASH TRADES (USD MAJORS).</li>\r\n	<li>4 – NON USD MAJOR TRADES.</li>\r\n</ul>\r\nThese accounts make money.\r\n\r\nWith my own trading accounts, I trade different lot sized trades and my loss trades always seem to be those with a bigger position being traded. So pip wise the loss can be similar to the PREMIUM SERVICE but financially losses are multiplied. If you recall, I worked off my FXCM loss after the CHF peg removal and then some squeezes set me back.\r\n\r\nI think that one of my subscribers described the market a month or so ago as “one step forwards and two steps backwards”. This is true as far as my personal trading is concerned. I am managing risk but my larger sized trades are unfortunately just not working out. I have had smallish pip losses, but larger $$$ losses than the single lot trades that are undertaken through the PREMIUM SERVICE. I hope that this makes sense to calculate. Common sense says why not trade all trades the same size, I wont trade GBP/NZD or any X rate pair the same size as a EUR/USD or EUR/GBP trade, so there has to be a difference. This is how and why overall performances can differ from those in the PREMIUM SERVICE\r\n\r\nI sidetracked a little here but the bottom line is we are in a range bound market and there is still a lot of geopolitical news in the air. Whilst we may agree that the equity markets are at extremes, the markets are stretched and twitchy at these levels. The biggest buyers of shares are companies themselves re-purchasing stock and I would say that the markets are just waiting for a reason to pullback. This causes lack of correlation, which fuels uncertainty and this manifests itself through some strange moves neither FUNDAMENTALLY or DATA driven.\r\n\r\nLike many of you guys, I suffer as well. All I can say is slow and steady wins the race. The PREMIUM SERVICE single-lot trades offer all round consistency of a performance return.\r\n\r\nTRENDING MARKET CONDITIONS:\r\n\r\nI cannot see this happening until GREECE is out of the way. Only then do I think that the Central bank divergences will take a prime role. We have to be patient. It may never happen, but in section 4 (for subscribers only) I have aired my views on trades which, show some great $$$ opportunities should it happen. Some of the charts in section 4 this week in my opinion show the best $$$ opportunities we have had this year so far. They are all technical set ups that match and meet 100% with my FUNDAMENTAL views.\r\n\r\nI could be bold and say this is the TRENDING MARKET but even though I am very positive, these trades will not move in straight lines as you know and they could take several moves along the way that may cut against the overall trending move.\r\n\r\n&nbsp;\r\n<ol start=\"2\">\r\n	<li><strong><u> WHAT’S ON MY MIND: -\r\nTHE FUNDAMENTAL TRADERS OVERVIEW:</u></strong></li>\r\n</ol>\r\n<h3 style=\"text-align: center;\"><span style=\"text-decoration: underline;\"><strong>GREECE - THE OPTIONS... IS IT A or B?</strong></span></h3>\r\nA short view this week, I keep being asked why am I so Anti-European?\r\n\r\nThe simple plain matter of fact is that I am not Anti-European, just anti the EUROZONE single currency and what it stands for and how it was introduced into so many countries without the people being able to vote. So much for European democracy!!\r\n\r\nI could write for pages on this subject, so in advance, please forgive me for keeping this brief and at a high level.\r\n\r\nBasically as I see it, GREECE has two options and for simplicity and consistency I am going to call them Option A and not surprisingly Option B.\r\n\r\n<span style=\"text-decoration: underline;\">OPTION A:</span>\r\n\r\n<span style=\"text-decoration: underline;\">GREECE DEFAULTS ON IT’S NEXT SET OF PAYMENTS TO ITS CREDITORS.</span>\r\n\r\nFor me, this is the most likely scenario.\r\n\r\nWhat happens?\r\n\r\nInitially, I expect CAPITAL CONTROLS. The Central Bank will issue firm rules on moving money in and out of the country and there will probably be cash limits on withdrawals from banks over the counter. I would expect cash machines to be taken off line.\r\n\r\nNext, I expect that the GREEK GOVERNMENT will formally announce that they are withdrawing from the single-currency and that the Drachma will be re-introduced. It will probably be phased in as a parallel currency along the lines that the EUR was introduced back in the day to replace the Drachma. There is scaremongering going on stating that paying for items in EUR instead Drachma will be cheaper. There should be an official exchange rate between the two currencies to avoid that.\r\n\r\nThe markets…. equities I expect to close down for 48 hours or so. Bonds will be mental and the Forex Market will be on acid.\r\n\r\nI expect the EUR/USD to fall initially quite hard and fast, however here are commentators that have told me directly that they expect the EUR to strengthen on the news of a GREECE exit. This is based upon the fact that the weak link is removed.\r\n\r\nMy view is somewhat different. I expect right wing groups in SPAIN, ITALY and PORTUGAL to grow in popularity and threaten political stability. This would be on the basis of, if GREECE can exit and have the Drachma back, we will have our Pesetas, Liras and Escudos back. Losing ones sovereign currency is a big thing. Unless you are European and lost your sovereignty you don’t get it.\r\n\r\nI predict a CONTAGION effect.\r\n\r\nThis will keep the single currency pressured to the downside.\r\n\r\n<span style=\"text-decoration: underline;\">OPTION B:</span>\r\n\r\n<span style=\"text-decoration: underline;\">THE TRIOKA AGREE TERMS WITH GREECE TO EXTEND CREDIT FACILITIES – AGREE BAILOUT III</span>\r\n\r\nThis is what I will call the kicking of the can down the road solution. There is no better place on this glorious planet than the EUROZONE for can kicking.\r\n\r\nBasically, GREECE gets terms that they feel that they can meet. We all know that severe cost cutting and selling prized assets is what the Tsipras led Government needs to do to achieve this result. That will not happen. It is NOT the GREEK psyche. Culturally NEVER going to happen. They may say that they will BUT they wont do it.\r\n\r\nThe only settlement is a haircut being agreed with creditors. Up to now creditors have stood firm - all or nothing. This is dead simple. Something is better than nothing. This is the only B option that will work in my opinion.\r\n\r\nWhat happens?\r\n\r\nThe introduction of CAPITAL CONTROLS and the Drachma is avoided.\r\n\r\nThe equities and Forex markets will sell off and then bounce on the news. Then give it time…\r\n\r\nThe CONTAGION effect comes into play.\r\n\r\nAll governments that have had bailouts since the 2008-9 crash will want to be treated as the GREECE government has been treated. Essentially, why should bad behavior be rewarded? The Likes of PORTUGAL, IRELAND, CYPRUS etc will ask for their conditions to be reviewed and revised….they too will be looking for cheques in the post from Frankfurt.\r\n\r\nOn the news of refunds being demanded from various governments around the EUROZONE, the EUR/USD will fall under uncertainty. There will be calls of “refund or we leave”. The extreme parties will say one rule for one but not one rule for all, this is anti the agreement we co-signed at the outset.\r\n\r\nThis will keep the EUR/USD pressured to the downside.\r\n\r\nYou can agree with me 100%, 50% or whatever. You can disagree entirely with my thoughts. I will always have an opinion.\r\n\r\nThe simple fact is that something is going to happen and the name of the Jack Nicholson movie “Something’s Gotta Give” comes to mind.\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n<ol start=\"3\">\r\n	<li><strong></strong><strong><u> THE PREMIUM SERVICE:</u></strong>&nbsp;</li>\r\n</ol>\r\n<strong><u>SUMMARY OF PERFORMANCE:</u></strong>\r\n\r\n<u>3.1 – OVERVIEW and SUBSCRIPTION OPTIONS, FEATURES and PRICING:</u>\r\n\r\nFor new readers who may not be aware, I refer to the PREMIUM SERVICE quite a lot in this blog and for more details about what it is, and, how much it costs, you will need to go the welcome page of <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a>\r\n\r\nAt the top of my welcome page there are three drop down menus: -\r\nPREMIUM SERVICE PROMOTIONS (if available)\r\nSIGN-UP\r\nDISCLAIMER\r\n\r\nFurther details and how to join are all contained there. You will need a PayPal account to subscribe.\r\n\r\nBelow I provide an overview of the GOLD and SILVER subscription options and pricing.<u> </u>\r\n\r\n<u>GOLD MEMBER SUBSCRIPTION FEATURES &amp; PRICING OPTIONS:\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\">weeklyfxdrivethru.com</a></li>\r\n	<li>A dedicated exclusive twitter feed for GOLD MEMBER subscribers only @ThePremService.</li>\r\n	<li>All trade set-ups communicated via Twitter and RADAR and FUNDAMENTAL trades additionally via email when possible.</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\">weeklyfxdrivethru.com</a></li>\r\n	<li>My thoughts and comments on market conditions via twitter and/or email.</li>\r\n</ul>\r\nGOLD MEMBER SUBSCRIPTION OPTION PRICING:\r\n(Please note that PayPal works in months NOT weeks)\r\n\r\n10 weeks / 3 months:               USD $295.00\r\n20 weeks / 6 months:               USD $495.00\r\n40 weeks / 12 months:             USD $795.00\r\n\r\n&nbsp;\r\n\r\n<u>SILVER MEMBER SUBSCRIPTION FEATURES &amp; PRICING OPTIONS:\r\n</u>\r\n<ul>\r\n	<li>Simple 4 weekly (monthly) membership pricing.</li>\r\n	<li>A dedicated exclusive twitter feed for SILVER MEMBER subscribers only @PremServSilver.</li>\r\n	<li>All my trade set-ups delivered to you via the SILVER MEMBER subscriber twitter feed @PremServSilver.</li>\r\n	<li>Access to the PREMIUM SERVICE website (relevant trade information only).</li>\r\n	<li>The “FREE NEWSLETTER” version of THE WEEKLY FX DRIVE THRU delivered weekly direct to you email inbox and viewable online at <a href=\"http://www.weeklyfxdrivethru.com\">weeklyfxdrivethru.com</a></li>\r\n</ul>\r\nSILVER MEMBER SUBSCRIPTION OPTION PRICING:\r\n(Please note that PayPal works in months NOT weeks)\r\n\r\n4 weeks / 1 month:                    USD $100.00\r\n\r\n&nbsp;\r\n\r\n<u>3.2 - SUMMARY OF PERFORMANCE:</u>\r\n\r\n<u>3.2.1 – PREMIUM SERVICE – COST INCOME ANALYSIS (USD):</u>\r\n\r\n&nbsp;\r\n<p style=\"text-align: center;\">EMANATING FROM TRADE SET-UPS - 2015 to date:</p>\r\n<p style=\"text-align: center;\"><u>MICRO LOT TRADER</u> - 365 trades cost to trade = $36.50\r\n<strong>PROFIT</strong> from 365 trades = <strong><u>$519.30</u></strong></p>\r\n<p style=\"text-align: center;\"><u>MINI LOT TRADER</u> - 365 trades cost to trade = $365.00\r\n<strong>PROFIT</strong> from 365 trades = <strong><u>$5,193.00</u></strong></p>\r\n<p style=\"text-align: center;\"><u>STANDARD LOT TRADER</u> - 365 trades cost to trade = $3,650.00\r\n<strong>PROFIT</strong> from 365 trades = <strong><u>$51,930.00</u></strong></p>\r\n<p style=\"text-align: center;\">If the above return from Forex Trading interests you go to</p>\r\n<p style=\"text-align: center;\"><a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a> and check out the subscription options under the tab “PREMIUM SERVICE”.</p>\r\n<p style=\"text-align: center;\">The performance above is based off single-lot trade sizes.</p>\r\n<p style=\"text-align: center;\">THE PREMIUM SERVICE has subscribers with broker accounts of sizes ranging from $2,500 to over $100,000.</p>\r\n<p style=\"text-align: center;\">A profitable trade is a profitable trade. It is all about trading according to the size of your broker account (EFFECTIVE POSITION SIZING) and applying RISK MANAGEMENT principles at all times.</p>\r\n&nbsp;\r\n\r\n<u>3.2.2 - PREMIUM SERVICE - OVERALL TRADE SUMMARY MONTH &amp; YTD:</u>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/PREM-SERV-PROFITS1-24052015.png\"><img class=\"aligncenter size-full wp-image-5991\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/PREM-SERV-PROFITS1-24052015.png\" alt=\"PREM SERV PROFITS1 24052015\" width=\"459\" height=\"427\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/PREM-SERV-PROFITS2-24052015.png\"><img class=\"aligncenter size-full wp-image-5992\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/PREM-SERV-PROFITS2-24052015.png\" alt=\"PREM SERV PROFITS2 24052015\" width=\"460\" height=\"421\" /></a>\r\n\r\n&nbsp;\r\n<ol start=\"4\">\r\n	<li><strong><u> PREMIUM SERVICE SUBSCRIBER EXCLUSIVE CONTENT:</u></strong></li>\r\n</ol>\r\n(Section 4 is exclusive PREMIUM SERVICE content only available to PREMIUM SERVICE subscribers)\r\n\r\n<u>4.1 - EDUCATION:\r\n</u>(The full list of all items and more from this section can be found in the PREMIUM SERVICE website in the Trade Essential area under the EDUCATION tab.)\r\n\r\nThis section will return soon. At the moment this section of the website is under review and I do not want to add more work until the final look is agreed.\r\n\r\nFor now bear with me. Whilst it is sometimes difficult to have topics, I have a few in the can as they say.\r\n\r\n&nbsp;\r\n\r\n<u>4.2 – THE PREMIUM SERVICE – TRADING REVIEW:</u>\r\n\r\nAs I think I mentioned already, I was traveling a little last week and whilst I found the week a little rushed at times, I am in agreement with several of you in the sense that when you think its going great, that is then the time to bank your profits. Too often, and I am more guilty than most I try to let the profitable trades run, only to have them blow up in my face. When I cut a profitable trade too early, those are the trades that go on to make another 100 pips plus.\r\n\r\nThe classic example of this was last Friday before the U.S. CPi data. I closed AUD/USD, NZD/USD and USD/CHF trades all for profits but missed out on over 250 pips of additional moves.\r\n\r\nGuys… I am that good. Anyone that tells you they could have foreseen the U.S. data is bullshitting you. The recent run of U.S. data has been weak to say the least. I closed several trades ahead of a high RISK news event. It was the correct thing to do. These pairs were to be directly affected by the news.\r\n\r\nI left my USD/CAD open, as I know from recent TV reports that the malls and general spending in Canada was down. There was a slight chance that the CPi data would be good but in my opinion it would be weak, which it was. As a result I took 35 pips on the USD/CAD and exited a loss position with profits.\r\n\r\nEveryday, we seem to be faced with Asian markets in one direction, then Europe reverses it and then at the European close it turns again. This factor plus the very thin market volumes makes it difficult. I had a very short webinar with my peer group last week. Everyone feels the same way, and, everyone felt they were getting pushed first one way and then the other. The consensus was that the market is becoming a day trader market only. At the time of that meeting, I agreed. However, I see opportunities now with hopefully some longer-term trades that could signal the start of a trend.\r\n\r\nWe just need GREECE out of the way. After GREECE I think matters will be clearer all round, and frankly entering trades will be done with more confidence. Unfortunately, these trades are available now and we need to be selective.\r\n\r\nFrom a pip perspective there were some very profitable trades last week, as early in the week we had a firm direction. This just faded as we came towards the FOMC and the FOMC minutes were a non-event in my eyes. Friday, the day of the week apart from Sunday night that I hate the most saw a powerful USD move which saw the DXY move back to 97.00.\r\n\r\nWhen you look at the DXY chart we have a chart pattern that could set up a move to 115.00 or greater. This pattern forms the start of the technical set-ups on charts that I will go through later. However, I must point out that should we move to 115.00 or above in the DXY there would be some absolutely terrific monster moves in the USD majors. Given my FUNDAMENTAL views these meet perfectly with these technical indicators hence my excitement.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/USD-DXY-24052015.png\"><img class=\"aligncenter size-large wp-image-5998\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/USD-DXY-24052015-1024x445.png\" alt=\"USD DXY 24052015\" width=\"1024\" height=\"445\" /></a>\r\n\r\n&nbsp;\r\n\r\nMonday and Tuesday next week, I will be trying to get reasonable entries on the highlighted pairs. We just need modest 23% to 38% (preferred) Fibonacci pullbacks from today’s extensions.\r\n\r\n&nbsp;\r\n\r\n<u>4.3 - THE PREMIUM SERVICE - EXISTING LIVE TRADES:</u>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/PS-LIVE-TRADES-24052015.png\"><img class=\"aligncenter size-full wp-image-6000\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/PS-LIVE-TRADES-24052015.png\" alt=\"PS LIVE TRADES 24052015\" width=\"723\" height=\"572\" /></a>\r\n\r\n&nbsp;\r\n\r\n<u>4.4 - THE PREMIUM SERVICE – EXISTING LIMIT ORDERS:</u>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/PREM-SERV-RADAR-TRADES-24052015.png\"><img class=\"aligncenter size-full wp-image-6001\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/PREM-SERV-RADAR-TRADES-24052015.png\" alt=\"PREM SERV RADAR TRADES 24052015\" width=\"705\" height=\"447\" /></a>\r\n\r\n&nbsp;\r\n\r\n<u>PLEASE NOTE:</u>\r\n\r\nRemember position sizes for suggested FUNDAMENTAL TRADES should be much smaller than usual, maybe only 20%-25% of your normal trading position size. It is only when we add to our positions that the fun begins. All FUNDAMENTAL trades posted via email contain a second page with details of where I will add trades and when and where stops are moved, the Stair Stepping Stop Protection (SSSP) is self-explanatory and I hope useful. Using this grows your trading position and helps protect the profits made, should the trade gain traction. In addition, I have added some detail on my HEDGING approach as well to the second FUNDAMENTAL TRADE alert page. More detailed information on HEDGING can be found inside the PREMIUM SERVICE website under the EDUCATION tab – Trading Essentials.\r\n\r\nI view the commodity cross-rate pairs, which form the basis of my FUNDAMENTAL TRADE SET-UPS as bonus trades away from the USD majors and over the year they can be very profitable. This is why I have a separate broker account for commodity cross-RATE PAIR trades. It gives me an immediate measurement of performance without the need to extrapolate data.\r\n\r\n<u>4.5 - POTENTIAL TRADES - WHAT CHARTS AM I LOOKING AT?</u>\r\n\r\n(This section usually contains charts mainly relating to non-USD majors, in particular the ones that I am working on and looking at because they catch my eye that may become potential trades in the trading sessions ahead. If there are no comments beneath the charts, my comments / thoughts are written on them directly. I will tweet and email as soon as these possible trades become LIMIT ORDERS)\r\n\r\n<u>THIS WEEKS OVERVIEW:</u>\r\n\r\nAs you may have gathered (reading between the lines on tweets and other commentaries) I will be focusing a lot of my intention on CHF pairs. This week with regards to the charts I am specifically looking at: -\r\n\r\nCHF/JPY, GBP/CHF, EUR/CHF, AUD/CHF, CAD/CHF and NZD/CHF. All of my comments are contained on the charts.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/AUDCHF-W-24052015.png\"><img class=\"aligncenter size-large wp-image-6021\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/AUDCHF-W-24052015-1024x574.png\" alt=\"AUDCHF W 24052015\" width=\"1024\" height=\"574\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/CADCHF-W-24052015.png\"><img class=\"aligncenter size-large wp-image-6020\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/CADCHF-W-24052015-1024x574.png\" alt=\"CADCHF W 24052015\" width=\"1024\" height=\"574\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/CHFJPY-W-24052015.png\"><img class=\"aligncenter size-large wp-image-6019\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/CHFJPY-W-24052015-1024x574.png\" alt=\"CHFJPY W 24052015\" width=\"1024\" height=\"574\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/EURCHF-W-24052015.png\"><img class=\"aligncenter size-large wp-image-6018\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/EURCHF-W-24052015-1024x574.png\" alt=\"EURCHF W 24052015\" width=\"1024\" height=\"574\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/GBPCHF-W-25052015.png\"><img class=\"aligncenter size-large wp-image-6017\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/GBPCHF-W-25052015-1024x574.png\" alt=\"GBPCHF W 25052015\" width=\"1024\" height=\"574\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/NZDCHF-W-24052015.png\"><img class=\"aligncenter size-large wp-image-6016\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/NZDCHF-W-24052015-1024x574.png\" alt=\"NZDCHF W 24052015\" width=\"1024\" height=\"574\" /></a>\r\n\r\n&nbsp;\r\n\r\n<u>4.6 - MAJOR TRADING PAIRS WITH LONGER-TERM TRENDS MATCHING:</u>\r\n\r\nThe 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/2015/05/PS-TRENDING-PAIRS-24052015.png\"><img class=\"aligncenter size-full wp-image-5999\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/PS-TRENDING-PAIRS-24052015.png\" alt=\"PS TRENDING PAIRS 24052015\" width=\"412\" height=\"546\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n<u>4.7 - THE KEY SUPPORT &amp; RESISTANCE LEVELS WITH THE USD MAJORS</u><strong><u>:\r\n</u></strong>(The reviews in the section are accompanied with daily and / or weekly charts of the USD majors)\r\n\r\nINTRODUCTION:\r\n\r\nI have received a few questions asking about what process I go through when looking at charts to establish whether or not I decide to take a trade or not. For the EUR/USD below, I have attempted to show the process. I hope this is of some benefit.\r\n\r\n<strong>EUR/USD: Closing Price 1.1006</strong>\r\n\r\nIt has been quite a move lower in the past 7 days.\r\n\r\nAll of my thoughts are on the following charts and twitter will confirm a RADAR TRADE RT433 set up as soon as it is lodged with my broker.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/EURUSD-W-24052015.png\"><img class=\"aligncenter size-large wp-image-6002\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/EURUSD-W-24052015-1024x574.png\" alt=\"EURUSD W 24052015\" width=\"1024\" height=\"574\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/EURUSD-D-24052015.png\"><img class=\"aligncenter size-large wp-image-6003\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/EURUSD-D-24052015-1024x574.png\" alt=\"EURUSD D 24052015\" width=\"1024\" height=\"574\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/EURUSD-240M-24052015.png\"><img class=\"aligncenter size-large wp-image-6004\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/EURUSD-240M-24052015-1024x574.png\" alt=\"EURUSD 240M 24052015\" width=\"1024\" height=\"574\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/RT433-EURUSD-60M-24052015.png\"><img class=\"aligncenter size-large wp-image-6005\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/RT433-EURUSD-60M-24052015-1024x574.png\" alt=\"RT433 EURUSD 60M 24052015\" width=\"1024\" height=\"574\" /></a>\r\n\r\n&nbsp;\r\n\r\nSupport in the EUR/USD is at 1.0960 with resistance is at 1.1040\r\n\r\n&nbsp;\r\n\r\n<strong>GBP/USD: Closing Price 1.5471</strong>.\r\n\r\nHoly Mother of God. This pair drives me crazy. It was on a tear higher and now the damn thing looks so bearish, I think that the Cameron win election frenzy is over, well it looks to be. This is cable, it could turn tomorrow and head 300 pips higher once again. It was almost but not quite a weekly bearish engulfing candle on the weekly chart.\r\n\r\nI have additional thoughts and comments on the chart below.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/GBPUSD-W-25052015.png\"><img class=\"aligncenter size-large wp-image-6006\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/GBPUSD-W-25052015-1024x574.png\" alt=\"GBPUSD W 25052015\" width=\"1024\" height=\"574\" /></a>\r\n\r\n&nbsp;\r\n\r\nSupport should be at 1.5540 and resistance at 1.5520.\r\n\r\n<strong> </strong>\r\n\r\n<strong>AUD/USD: Closing Price 0.7808</strong>.\r\n\r\nMy comments and thoughts together with a RADAR TRADE RT434 set up are included on the chart below. The trade will be confirmed via twitter as soon as I have it set up with my broker.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/RT434-AUDUSD-W-24052015.png\"><img class=\"aligncenter size-large wp-image-6007\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/RT434-AUDUSD-W-24052015-1024x574.png\" alt=\"RT434 AUDUSD W 24052015\" width=\"1024\" height=\"574\" /></a>\r\n\r\n&nbsp;\r\n\r\nSupport should now be at 0.7750 and resistance at 0.7920.\r\n\r\n&nbsp;\r\n\r\n<strong>NZD/USD: Closing Price 0.7289</strong>.\r\n\r\nMy comments related to this pair are contained on the charts below, plus a RADAR TRADE set up RT435 which will be confirmed via twitter as soon as it is with my broker.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/NZDUSD-W-24052015.png\"><img class=\"aligncenter size-large wp-image-6008\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/NZDUSD-W-24052015-1024x574.png\" alt=\"NZDUSD W 24052015\" width=\"1024\" height=\"574\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/RT435-NZDUSD-D-24052015.png\"><img class=\"aligncenter size-large wp-image-6009\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/RT435-NZDUSD-D-24052015-1024x574.png\" alt=\"RT435 NZDUSD D 24052015\" width=\"1024\" height=\"574\" /></a>\r\n\r\nSupport is at 0.7166 and resistance is at 0.7420.\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n<strong>USD/CAD: Closing Price 1.2277.</strong>\r\n\r\nI have my comments for this pair contained on the charts below plus a RADAR TRADE set up RT436, which will be confirmed via twitter as soon as it is set up with my broker.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/USDCAD-W-24052015.png\"><img class=\"aligncenter size-large wp-image-6010\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/USDCAD-W-24052015-1024x574.png\" alt=\"USDCAD W 24052015\" width=\"1024\" height=\"574\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/RT436-USDCAD-D-24052015.png\"><img class=\"aligncenter size-large wp-image-6013\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/RT436-USDCAD-D-24052015-1024x574.png\" alt=\"RT436 USDCAD D 24052015\" width=\"1024\" height=\"574\" /></a>\r\n\r\n&nbsp;\r\n\r\nSupport should be good at 1.2160 and resistance is at 1.2350.\r\n\r\n<strong> </strong><strong> </strong>\r\n\r\n<strong>USD/CHF: Closing Price 0.9410</strong>.\r\n\r\nMy comments for this pair are contained on the chart.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/USDCHF-D-24052015.png\"><img class=\"aligncenter size-large wp-image-6011\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/USDCHF-D-24052015-1024x574.png\" alt=\"USDCHF D 24052015\" width=\"1024\" height=\"574\" /></a>\r\n\r\n&nbsp;\r\n\r\nSupport is at 0.9350 and resistance at 0.9450.\r\n\r\n<strong> </strong>\r\n\r\n<strong>USD/JPY: Closing Price 121.53. </strong>\r\n\r\nA nice move higher in the past week over 200 pips, but we are still range bound.\r\n\r\nIf you are range trader enjoy… If not, then stay away.\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/USDJPY-W-24052015.png\"><img class=\"aligncenter size-large wp-image-6012\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/USDJPY-W-24052015-1024x574.png\" alt=\"USDJPY W 24052015\" width=\"1024\" height=\"574\" /></a>\r\n\r\n&nbsp;\r\n\r\nSupport is at 118.50 and resistance at 122.50.\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n<ol start=\"5\">\r\n	<li><strong><u> THE CONCLUSION - MY FINAL THOUGHTS:</u></strong></li>\r\n</ol>\r\n<u>5.1 - SUBSCRIBING TO THE “FREE VERSION” OF THE WEEKLY FX DRIVE THRU:</u>\r\n\r\nIf you like what you have almost completed reading and want to have THE WEEKLY FX DRIVE THRU delivered direct to your email inbox next week, here is what you do: -\r\n\r\nGo to my website: - <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a>\r\n\r\nOn the right hand side of the welcome page under my bio “about me” there is a blue box titled SUBSCRIBE TO FREE NEWSLETTER, click on profile and add your email address. It is as simple and straightforward as that.\r\n\r\nI do NOT sell your email data to anyone…do not worry...one less thing to worry about!\r\n\r\nIf you really like my way of explaining things…subscribe to either the PREMIUM SERVICE SILVER or GOLD by visiting my website <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a>\r\n\r\n&nbsp;\r\n\r\n<u>5.2 –TRADING TIPS &amp; THOUGHTS FOR THE WEEK AHEAD: </u>\r\n\r\nNot much on the economic data front this week.\r\n\r\nIf I were pushed to give a surprise event other than GREECE being sorted…. sorry, just checked the Weather Channel, the BBC and CNN – Hell has not yet frozen over, it would be: to not rule out a slim chance that the BOC could cut interest rates on Wednesday by 0.25% to 0.50%. There is no press conference and no statement required this month.\r\n\r\nReturning to GREECE. To say the position is desperate is an understatement of mammoth proportions. I have not changed my position; I think a default is the only solution with GREECE returning to the Drachma.\r\n\r\nAs always, there will be trades to trade and there will be some great opportunities, please trade in line with your RISK MANAGEMENT parameters from your TRADING PLAN. If you do not have a TRADE PLAN, in my opinion, you should, as this will help you with consistency.\r\n\r\n<strong>Consistency = longevity in trading and that is a critical goal.\r\nIT IS THE KEY MEASUREMENT</strong>\r\n\r\nBefore you enter a trade work out the risk, price it in $$$. Place your stop accordingly. PREMIUM SERVICE subscribers have a full library of information on RISK MANAGEMENT, RISK TOLERANCES and POSITION SIZING etc. available for reference 24x7.\r\n\r\n&nbsp;\r\n\r\nTake care.\r\n\r\nScott Pickering\r\nThe Pip Accumulator\r\nSunday May 24th 2015\r\n\r\nEMAIL / FOLLOW ME AT:\r\npremiumservice@weeklyfxdrivethru.com\r\nTwitter: @pipaccumulator\r\nTwitter: @ThePremService\r\nGoogle+/scottpickering\r\nTumblr: thepipaccumulator\r\n\r\n<u>VIEWS AND COMMENTS IN THIS BLOG:</u>\r\n\r\nAll the comments and views expressed in my blog are my thoughts and ideas only. They are based on my FUNDAMENTAL views of the markets and my thoughts on the individuals concerned on how they manage positions in the public domain. In addition, I have my own thoughts and views about what I think goes on behind closed doors. You should NOT base any trade ideas on my thoughts and views alone. As I have said on many occasions in my blog, I am a FUNDAMENTAL trader first, then a TECHNICAL trader second using chart analysis to establish what I believe to be excellent trade entry positions. However, you must make up your own mind and trade at your own risk deciding if the entry levels I refer to actually meet with your views and thoughts. This makes complete sense as the risk in trading your account is 100% owned by you.\r\n\r\n<u>THIRD PARTY COMPANIES WITH BANNERS ON MY WEBSITE:</u>\r\n\r\nThere are a small number of companies with banners on my website. In the interests of full disclosure I have a reciprocal business arrangement with these companies to promote their products. Unlike many of my competitors, I use the products and services provided by these companies. I will NOT allow any third party on my website unless I am 100% happy that they can back up their promise. By virtue of the fact, I work with these companies almost daily. I am more than confident to have them advertise on my website. Any reader who buys products or services from any advertiser via a banner on my website, <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a> will automatically have my help and assistance with any issues that they may have with my partnered advertisers.\r\n\r\n<u>TRADING &amp; PERFORMANCES DISCLAIMER:</u>\r\n\r\nFLASH, RADAR and FUNDAMENTAL trade set-ups, “Tweets” and “Trade ideas” that are posted in my blogs or on Twitter are trades and set-ups that interest me. They are provided for training and informational purposes only and should not be interpreted as an offer, solicitation or recommendation of any specific security or investment strategy. Past performance is not indicative of future results. Trading Forex carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to trade any such leveraged products you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with trading on margin, and seek advice from an independent financial adviser if you have any doubts.','GREECE - THE OPTIONS... IS IT A or B?','','publish','open','closed','','greece-the-options-is-it-a-or-b','','','2015-05-23 14:24:09','2015-05-23 19:24:09','',0,'https://weeklyfxdrivethru.com/?post_type=member_posts&#038;p=6022',0,'member_posts','',0),(6023,1,'2015-05-23 14:22:15','2015-05-23 19:22:15','<h3 style=\"text-align: center;\"><strong>THE PREMIUM SERVICE\r\n</strong><strong>The Home of Single-Lot Trading\r\nwww.weeklyfxdrivethru.com</strong></h3>\r\n<strong>DATE: 24.05.2015\r\nREFERENCE: #61\r\n</strong><strong>BLOG: THE PREMIUM SERVICE</strong>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n<ol>\r\n	<li><strong> INTRODUCTION - MY OVERVIEW OF THE FOREX MARKET:</strong></li>\r\n</ol>\r\n<u>LOOKING BACKWARDS, FORWARDS &amp; SIDEWAYS (FOR GOOD MEASURE) AT THE FX MARKET:</u>\r\n\r\n<u>1.1 - LOOKING BACKWARDS:</u>\r\n\r\nIt was a strange trading week. It wasn’t the first strange one this year and without question, I think that I am safe to say that it will not be the last one either. I had to travel a little during the week so from my own trading perspective it was a little dis-jointed, but I also know that many subscribers found the week weird to trade for a number of factors and that they were tied to their computers all week.\r\n\r\nFOMC MEETING MINUTES:\r\n\r\nThese always achieve premier billing when the week’s news is reviewed. The hype over when the FED will raise interest rates in the U.S. quite frankly now borders on the ridiculous. When will it happen…. as Frasier Crane once stated “Time is irrelevant here in the 7<sup>th</sup> circle of hell……this is the place where even despair dies”. This is how I feel on the subject. Will someone please stick a “red hot poker” up the collective ass of the FED and just do it. Feck the bloody data, it is always going to be mixed at best this year…do it …be done and lets move on.\r\n\r\nIf I hear Steve Liesman on CNBC anymore, whining about FED language and the data, I think I will be on Knob Creek and Diets for breakfast to accompany my famous, and, without doubt, best in the world Montreal bagel from Fairmont Bagel. I know that I am originally from Liverpool and have a low patience tolerance but give me a fecking break.\r\n\r\nMoving on from the pleasantries, the minutes were neither one thing nor the other. Even the friggin FOMC committee is bored with when they should raise rates and what language should be released in the minutes. It looks like a hike in June is not going to happen but hey, never say never. September looks favourite now, but about a week ago it was never going to happen in 2015 the consumer data was sooooooo bad.\r\n\r\nIt’s all about Wall Street. The fund managers who suckle on the teat of the FED and cannot manage without their hands being held are now so spoilt, they expect the FED to say that it will happen precisely on this day at this time. Bernanke did a great job in my opinion but my God, he has spoilt Wall Street.\r\n\r\nI question who runs the U.S. Its not the dysfunctional idiots in Washington who were elected by the people. All they do is inter-party squabble and place party and personal politics ahead of the countries national interest. Is it the FED that runs the U.S.? At times they appear to be one with Wall Street and not Main Street. Who looks after the people that need help in the U.S.? That is another blog to write…\r\n\r\nEUROZONE PMi DATA and GERMAN ZEW AND IFO DATA:\r\n\r\nRather mixed in my opinion. Taking a view from a macro level. The EUROZONE data looks to be mainly improving, however, German data is not consistent. It is good to see French and Spanish data generally improving, but Italy must now be a concern. After GREECE defaults, the markets will be pressurizing the Italians next, and if, as I expect the Greeks are back with the Drachma, the Italians will want the Lira. The CONTAGION begins.\r\n\r\nU.S. and CANADIAN CPi DATA:\r\n\r\nCanadian Data was weaker than expected but the U.S. data on Consumer Prices was strong, sending the DXY higher (see below).\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/CPi-DATA-24052015.png\"><img class=\"aligncenter size-full wp-image-5990\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/CPi-DATA-24052015.png\" alt=\"CPi DATA 24052015\" width=\"816\" height=\"160\" /></a>\r\n\r\nQuite frankly, the DXY looks to be in a bullish A+D = C=D style pattern, which, if (and it is a big if)…it plays out could place the DXY at 115.00. Where would that place the EUR/USD? Sub parity for sure.\r\n\r\nLast Friday, on the back of consumer prices the USD went crazy taking the EUR/USD from 1.1160 to 1.0970 at one point before pulling back a little.\r\n\r\nInside Section 4 there is a chart of the USD Index (DXY) that I have included showing the potential of the DXY potential measured move and what this potentially means for us as Forex Traders from just one currency pair. I hope that I can expand on this matter next week.\r\n\r\nSince the CPi data release, I have not viewed CNBC or BLOOMBERG as I do not think that I could take the commentary. It is amazing what a little bit of inflation data can do.\r\n\r\n&nbsp;\r\n\r\n<u>1.2 - LOOKING FORWARDS:</u>\r\n\r\n<u>MAJOR FOREX NEWS THIS WEEK THAT INTERESTS ME:</u>\r\n\r\n<u>(There are many more news items related to the Forex Market than the ones listed below. These are the ones that interest me. You can go to </u><a href=\"http://www.forexfactory.com\">www.forexfactory.com</a><u> and </u><a href=\"http://www.tradingeconomics.com\">www.tradingeconomics.com</a><u> for more comprehensive lists of all news events that are Forex related).</u>\r\nSUNDAY: N/A.\r\n\r\nMONDAY: NZD – Trade Balance.\r\n\r\nTUESDAY: USD - CB Consumer Confidence.\r\n\r\nWEDNESDAY: BOC – Rate Statement.\r\nWEDNESDAY: AUD – PCE Data.\r\n\r\nTHURSDAY: NZD – ANZ Business Confidence.\r\n\r\nFRIDAY: GBP – GDP.\r\nFRIDAY: USD – GDP.\r\nFRIDAY: CAD – GDP.\r\n\r\n&nbsp;\r\n\r\n<u>1.3 - LOOKING SIDEWAYS (FOR GOOD MEASURE!!): </u>\r\n\r\nWhilst this blog goes as a FREE NEWSLETTER to subscribers via THE WEEKLY FX DRIVE THRU web site, it is essentially a review for my PREMIUM SERVICE GOLD SUBSCRIBERS. Part of the blog is only for GOLD SUBSCRIBERS for obvious reasons and basically those who subscribe through my website or access it via social media get a feel for what is provided through the other “open” sections. This section refers to correspondence with subscribers over the past 7 days.\r\n\r\nThe main theme or questions, views and comments this week were: -\r\n\r\nTRADING CONDITIONS and PROFITABILITY:\r\n\r\nIt is hard at the moment and I am saying this after a really good week of PREMIUM SERVICE trading. As I have told several of you, my own trading account varies in profitability from the PREMIUM SERVICE account. I operate the PREMIUM SERVICE account with single lot trades. These are placed across 4 different broker accounts.\r\n<ul>\r\n	<li>1 - COMMODITY X RATE PAIRS &amp; FUNDAMENTAL TRADES.</li>\r\n	<li>2 – RADAR TRADES (USD MAJORS).</li>\r\n	<li>3 – FLASH TRADES (USD MAJORS).</li>\r\n	<li>4 – NON USD MAJOR TRADES.</li>\r\n</ul>\r\nThese accounts make money.\r\n\r\nWith my own trading accounts, I trade different lot sized trades and my loss trades always seem to be those with a bigger position being traded. So pip wise the loss can be similar to the PREMIUM SERVICE but financially losses are multiplied. If you recall, I worked off my FXCM loss after the CHF peg removal and then some squeezes set me back.\r\n\r\nI think that one of my subscribers described the market a month or so ago as “one step forwards and two steps backwards”. This is true as far as my personal trading is concerned. I am managing risk but my larger sized trades are unfortunately just not working out. I have had smallish pip losses, but larger $$$ losses than the single lot trades that are undertaken through the PREMIUM SERVICE. I hope that this makes sense to calculate. Common sense says why not trade all trades the same size, I wont trade GBP/NZD or any X rate pair the same size as a EUR/USD or EUR/GBP trade, so there has to be a difference. This is how and why overall performances can differ from those in the PREMIUM SERVICE\r\n\r\nI sidetracked a little here but the bottom line is we are in a range bound market and there is still a lot of geopolitical news in the air. Whilst we may agree that the equity markets are at extremes, the markets are stretched and twitchy at these levels. The biggest buyers of shares are companies themselves re-purchasing stock and I would say that the markets are just waiting for a reason to pullback. This causes lack of correlation, which fuels uncertainty and this manifests itself through some strange moves neither FUNDAMENTALLY or DATA driven.\r\n\r\nLike many of you guys, I suffer as well. All I can say is slow and steady wins the race. The PREMIUM SERVICE single-lot trades offer all round consistency of a performance return.\r\n\r\nTRENDING MARKET CONDITIONS:\r\n\r\nI cannot see this happening until GREECE is out of the way. Only then do I think that the Central bank divergences will take a prime role. We have to be patient. It may never happen, but in section 4 (for subscribers only) I have aired my views on trades which, show some great $$$ opportunities should it happen. Some of the charts in section 4 this week in my opinion show the best $$$ opportunities we have had this year so far. They are all technical set ups that match and meet 100% with my FUNDAMENTAL views.\r\n\r\nI could be bold and say this is the TRENDING MARKET but even though I am very positive, these trades will not move in straight lines as you know and they could take several moves along the way that may cut against the overall trending move.\r\n\r\n&nbsp;\r\n<ol start=\"2\">\r\n	<li><strong><u> WHAT’S ON MY MIND: -\r\nTHE FUNDAMENTAL TRADERS OVERVIEW:</u></strong></li>\r\n</ol>\r\n<h3 style=\"text-align: center;\"><span style=\"text-decoration: underline;\"><strong>GREECE - THE OPTIONS... IS IT A or B?</strong></span></h3>\r\nA short view this week, I keep being asked why am I so Anti-European?\r\n\r\nThe simple plain matter of fact is that I am not Anti-European, just anti the EUROZONE single currency and what it stands for and how it was introduced into so many countries without the people being able to vote. So much for European democracy!!\r\n\r\nI could write for pages on this subject, so in advance, please forgive me for keeping this brief and at a high level.\r\n\r\nBasically as I see it, GREECE has two options and for simplicity and consistency I am going to call them Option A and not surprisingly Option B.\r\n\r\n<span style=\"text-decoration: underline;\">OPTION A:</span>\r\n\r\n<span style=\"text-decoration: underline;\">GREECE DEFAULTS ON IT’S NEXT SET OF PAYMENTS TO ITS CREDITORS.</span>\r\n\r\nFor me, this is the most likely scenario.\r\n\r\nWhat happens?\r\n\r\nInitially, I expect CAPITAL CONTROLS. The Central Bank will issue firm rules on moving money in and out of the country and there will probably be cash limits on withdrawals from banks over the counter. I would expect cash machines to be taken off line.\r\n\r\nNext, I expect that the GREEK GOVERNMEMNT will formally announce that they are withdrawing from the single-currency and that the Drachma will be re-introduced. It will probably be phased in as a parallel currency along the lines that the EUR was introduced back in the day to replace the Drachma. There is scaremongering going on stating that paying for items in EUR instead Drachma will be cheaper. There should be an official exchange rate between the two currencies to avoid that.\r\n\r\nThe markets…. equities I expect to close down for 48 hours or so. Bonds will be mental and the Forex Market will be on acid.\r\n\r\nI expect the EUR/USD to fall initially quite hard and fast, however here are commentators that have told me directly that they expect the EUR to strengthen on the news of a GREECE exit. This is based upon the fact that the weak link is removed.\r\n\r\nMy view is somewhat different. I expect right wing groups in SPAIN, ITALY and PORTUGAL to grow in popularity and threaten political stability. This would be on the basis of, if GREECE can exit and have the Drachma back, we will have our Pesetas, Liras and Escudos back. Losing ones sovereign currency is a big thing. Unless you are European and lost your sovereignty you don’t get it.\r\n\r\nI predict a CONTAGION effect.\r\n\r\nThis will keep the single currency pressured to the downside.\r\n\r\n<span style=\"text-decoration: underline;\">OPTION B:</span>\r\n\r\n<span style=\"text-decoration: underline;\">THE TRIOKA AGREE TERMS WITH GREECE TO EXTEND CREDIT FACILITIES – AGREE BAILOUT III</span>\r\n\r\nThis is what I will call the kicking of the can down the road solution. There is no better place on this glorious planet than the EUROZONE for can kicking.\r\n\r\nBasically, GREECE gets terms that they feel that they can meet. We all know that severe cost cutting and selling prized assets is what the Tsipras led Government needs to do to achieve this result. That will not happen. It is NOT the GREEK psyche. Culturally NEVER going to happen. They may say that they will BUT they wont do it.\r\n\r\nThe only settlement is a haircut being agreed with creditors. Up to now creditors have stood firm - all or nothing. This is dead simple. Something is better than nothing. This is the only B option that will work in my opinion.\r\n\r\nWhat happens?\r\n\r\nThe introduction of CAPITAL CONTROLS and the Drachma is avoided.\r\n\r\nThe equities and Forex markets will sell off and then bounce on the news. Then give it time…\r\n\r\nThe CONTAGION effect comes into play.\r\n\r\nAll governments that have had bailouts since the 2008-9 crash will want to be treated as the GREECE government has been treated. Essentially, why should bad behavior be rewarded? The Likes of PORTUGAL, IRELAND, CYPRUS etc will ask for their conditions to be reviewed and revised….they too will be looking for cheques in the post from Frankfurt.\r\n\r\nOn the news of refunds being demanded from various governments around the EUROZONE, the EUR/USD will fall under uncertainty. There will be calls of “refund or we leave”. The extreme parties will say one rule for one but not one rule for all, this is anti the agreement we co-signed at the outset.\r\n\r\nThis will keep the EUR/USD pressured to the downside.\r\n\r\nYou can agree with me 100%, 50% or whatever. You can disagree entirely with my thoughts. I will always have an opinion.\r\n\r\nThe simple fact is that something is going to happen and the name of the Jack Nicholson movie “Something’s Gotta Give” comes to mind.\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n<ol start=\"3\">\r\n	<li><strong><u> THE PREMIUM SERVICE:\r\n\r\n</u></strong></li>\r\n</ol>\r\n<strong><u>SUMMARY OF PERFORMANCE:</u></strong>\r\n\r\n<u>3.1 – OVERVIEW and SUBSCRIPTION OPTIONS, FEATURES and PRICING:</u>\r\n\r\nFor new readers who may not be aware, I refer to the PREMIUM SERVICE quite a lot in this blog and for more details about what it is, and, how much it costs, you will need to go the welcome page of <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a>\r\n\r\nAt the top of my welcome page there are three drop down menus: -\r\nPREMIUM SERVICE PROMOTIONS (if available)\r\nSIGN-UP\r\nDISCLAIMER\r\n\r\nFurther details and how to join are all contained there. You will need a PayPal account to subscribe.\r\n\r\nBelow I provide an overview of the GOLD and SILVER subscription options and pricing.<u> </u>\r\n\r\n<u>GOLD MEMBER SUBSCRIPTION FEATURES &amp; PRICING OPTIONS:\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\">weeklyfxdrivethru.com</a></li>\r\n	<li>A dedicated exclusive twitter feed for GOLD MEMBER subscribers only @ThePremService.</li>\r\n	<li>All trade set-ups communicated via Twitter and RADAR and FUNDAMENTAL trades additionally via email when possible.</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\">weeklyfxdrivethru.com</a></li>\r\n	<li>My thoughts and comments on market conditions via twitter and/or email.</li>\r\n</ul>\r\nGOLD MEMBER SUBSCRIPTION OPTION PRICING:\r\n(Please note that PayPal works in months NOT weeks)\r\n\r\n10 weeks / 3 months:               USD $295.00\r\n20 weeks / 6 months:               USD $495.00\r\n40 weeks / 12 months:             USD $795.00\r\n\r\n&nbsp;\r\n\r\n<u>SILVER MEMBER SUBSCRIPTION FEATURES &amp; PRICING OPTIONS:\r\n</u>\r\n<ul>\r\n	<li>Simple 4 weekly (monthly) membership pricing.</li>\r\n	<li>A dedicated exclusive twitter feed for SILVER MEMBER subscribers only @PremServSilver.</li>\r\n	<li>All my trade set-ups delivered to you via the SILVER MEMBER subscriber twitter feed @PremServSilver.</li>\r\n	<li>Access to the PREMIUM SERVICE website (relevant trade information only).</li>\r\n	<li>The “FREE NEWSLETTER” version of THE WEEKLY FX DRIVE THRU delivered weekly direct to you email inbox and viewable online at <a href=\"http://www.weeklyfxdrivethru.com\">weeklyfxdrivethru.com</a></li>\r\n</ul>\r\nSILVER MEMBER SUBSCRIPTION OPTION PRICING:\r\n(Please note that PayPal works in months NOT weeks)\r\n\r\n4 weeks / 1 month:                    USD $100.00\r\n\r\n&nbsp;\r\n\r\n<u>3.2 - SUMMARY OF PERFORMANCE:</u>\r\n\r\n<u>3.2.1 – PREMIUM SERVICE – COST INCOME ANALYSIS (USD):\r\n\r\n</u>\r\n<p style=\"text-align: center;\">EMANATING FROM TRADE SET-UPS - 2015 to date:</p>\r\n<p style=\"text-align: center;\"><u>MICRO LOT TRADER</u> - 365 trades cost to trade = $36.50\r\n<strong>PROFIT</strong> from 365 trades = <strong><u>$519.30</u></strong></p>\r\n<p style=\"text-align: center;\"><u>MINI LOT TRADER</u> - 365 trades cost to trade = $365.00\r\n<strong>PROFIT</strong> from 365 trades = <strong><u>$5,193.00</u></strong></p>\r\n<p style=\"text-align: center;\"><u>STANDARD LOT TRADER</u> - 365 trades cost to trade = $3,650.00\r\n<strong>PROFIT</strong> from 365 trades = <strong><u>$51,930.00</u></strong></p>\r\n<p style=\"text-align: center;\">If the above return from Forex Trading interests you go to</p>\r\n<p style=\"text-align: center;\"><a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a> and check out the subscription options under the tab “PREMIUM SERVICE”.</p>\r\n<p style=\"text-align: center;\">The performance above is based off single-lot trade sizes.</p>\r\n<p style=\"text-align: center;\">THE PREMIUM SERVICE has subscribers with broker accounts of sizes ranging from $2,500 to over $100,000.</p>\r\n<p style=\"text-align: center;\">A profitable trade is a profitable trade. It is all about trading according to the size of your broker account (EFFECTIVE POSITION SIZING) and applying RISK MANAGEMENT principles at all times.</p>\r\n&nbsp;\r\n\r\n<u>3.2.2 - PREMIUM SERVICE - OVERALL TRADE SUMMARY MONTH &amp; YTD:</u>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/PREM-SERV-PROFITS1-24052015.png\"><img class=\"aligncenter size-full wp-image-5991\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/PREM-SERV-PROFITS1-24052015.png\" alt=\"PREM SERV PROFITS1 24052015\" width=\"459\" height=\"427\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/PREM-SERV-PROFITS2-24052015.png\"><img class=\"aligncenter size-full wp-image-5992\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/PREM-SERV-PROFITS2-24052015.png\" alt=\"PREM SERV PROFITS2 24052015\" width=\"460\" height=\"421\" /></a>\r\n\r\n&nbsp;\r\n<ol start=\"4\">\r\n	<li><strong><u> PREMIUM SERVICE SUBSCRIBER EXCLUSIVE CONTENT:</u></strong></li>\r\n</ol>\r\n(Section 4 is exclusive PREMIUM SERVICE content only available to PREMIUM SERVICE subscribers)\r\n\r\n<u>4.1 - EDUCATION:\r\n</u>(The full list of all items and more from this section can be found in the PREMIUM SERVICE website in the Trade Essential area under the EDUCATION tab.)\r\n\r\nThis section will return soon. At the moment this section of the website is under review and I do not want to add more work until the final look is agreed.\r\n\r\nFor now bear with me. Whilst it is sometimes difficult to have topics, I have a few in the can as they say.\r\n\r\n&nbsp;\r\n\r\n<u>4.2 – THE PREMIUM SERVICE – TRADING REVIEW:</u>\r\n\r\nAs I think I mentioned already, I was traveling a little last week and whilst I found the week a little rushed at times, I am in agreement with several of you in the sense that when you think its going great, that is then the time to bank your profits. Too often, and I am more guilty than most I try to let the profitable trades run, only to have them blow up in my face. When I cut a profitable trade too early, those are the trades that go on to make another 100 pips plus.\r\n\r\nThe classic example of this was last Friday before the U.S. CPi data. I closed AUD/USD, NZD/USD and USD/CHF trades all for profits but missed out on over 250 pips of additional moves.\r\n\r\nGuys… I am that good. Anyone that tells you they could have foreseen the U.S. data is bullshitting you. The recent run of U.S. data has been weak to say the least. I closed several trades ahead of a high RISK news event. It was the correct thing to do. These pairs were to be directly affected by the news.\r\n\r\nI left my USD/CAD open, as I know from recent TV reports that the malls and general spending in Canada was down. There was a slight chance that the CPi data would be good but in my opinion it would be weak, which it was. As a result I took 35 pips on the USD/CAD and exited a loss position with profits.\r\n\r\nEveryday, we seem to be faced with Asian markets in one direction, then Europe reverses it and then at the European close it turns again. This factor plus the very thin market volumes makes it difficult. I had a very short webinar with my peer group last week. Everyone feels the same way, and, everyone felt they were getting pushed first one way and then the other. The consensus was that the market is becoming a day trader market only. At the time of that meeting, I agreed. However, I see opportunities now with hopefully some longer-term trades that could signal the start of a trend.\r\n\r\nWe just need GREECE out of the way. After GREECE I think matters will be clearer all round, and frankly entering trades will be done with more confidence. Unfortunately, these trades are available now and we need to be selective.\r\n\r\nFrom a pip perspective there were some very profitable trades last week, as early in the week we had a firm direction. This just faded as we came towards the FOMC and the FOMC minutes were a non-event in my eyes. Friday, the day of the week apart from Sunday night that I hate the most saw a powerful USD move which saw the DXY move back to 97.00.\r\n\r\nWhen you look at the DXY chart we have a chart pattern that could set up a move to 115.00 or greater. This pattern forms the start of the technical set-ups on charts that I will go through later. However, I must point out that should we move to 115.00 or above in the DXY there would be some absolutely terrific monster moves in the USD majors. Given my FUNDAMENTAL views these meet perfectly with these technical indicators hence my excitement.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/USD-DXY-24052015.png\"><img class=\"aligncenter size-large wp-image-5998\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/USD-DXY-24052015-1024x445.png\" alt=\"USD DXY 24052015\" width=\"1024\" height=\"445\" /></a>\r\n\r\n&nbsp;\r\n\r\nMonday and Tuesday next week, I will be trying to get reasonable entries on the highlighted pairs. We just need modest 23% to 38% (preferred) Fibonacci pullbacks from today’s extensions.\r\n\r\n&nbsp;\r\n\r\n<u>4.3 - THE PREMIUM SERVICE - EXISTING LIVE TRADES:</u>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/PS-LIVE-TRADES-24052015.png\"><img class=\"aligncenter size-full wp-image-6000\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/PS-LIVE-TRADES-24052015.png\" alt=\"PS LIVE TRADES 24052015\" width=\"723\" height=\"572\" /></a>\r\n\r\n&nbsp;\r\n\r\n<u>4.4 - THE PREMIUM SERVICE – EXISTING LIMIT ORDERS:</u>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/PREM-SERV-RADAR-TRADES-24052015.png\"><img class=\"aligncenter size-full wp-image-6001\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/PREM-SERV-RADAR-TRADES-24052015.png\" alt=\"PREM SERV RADAR TRADES 24052015\" width=\"705\" height=\"447\" /></a>\r\n\r\n&nbsp;\r\n\r\n<u>PLEASE NOTE:</u>\r\n\r\nRemember position sizes for suggested FUNDAMENTAL TRADES should be much smaller than usual, maybe only 20%-25% of your normal trading position size. It is only when we add to our positions that the fun begins. All FUNDAMENTAL trades posted via email contain a second page with details of where I will add trades and when and where stops are moved, the Stair Stepping Stop Protection (SSSP) is self-explanatory and I hope useful. Using this grows your trading position and helps protect the profits made, should the trade gain traction. In addition, I have added some detail on my HEDGING approach as well to the second FUNDAMENTAL TRADE alert page. More detailed information on HEDGING can be found inside the PREMIUM SERVICE website under the EDUCATION tab – Trading Essentials.\r\n\r\nI view the commodity cross-rate pairs, which form the basis of my FUNDAMENTAL TRADE SET-UPS as bonus trades away from the USD majors and over the year they can be very profitable. This is why I have a separate broker account for commodity cross-RATE PAIR trades. It gives me an immediate measurement of performance without the need to extrapolate data.\r\n\r\n<u>4.5 - POTENTIAL TRADES - WHAT CHARTS AM I LOOKING AT?</u>\r\n\r\n(This section usually contains charts mainly relating to non-USD majors, in particular the ones that I am working on and looking at because they catch my eye that may become potential trades in the trading sessions ahead. If there are no comments beneath the charts, my comments / thoughts are written on them directly. I will tweet and email as soon as these possible trades become LIMIT ORDERS)\r\n\r\n<u>THIS WEEKS OVERVIEW:</u>\r\n\r\nAs you may have gathered (reading between the lines on tweets and other commentaries) I will be focusing a lot of my intention on CHF pairs. This week with regards to the charts I am specifically looking at: -\r\n\r\nCHF/JPY, GBP/CHF, EUR/CHF, AUD/CHF, CAD/CHF and NZD/CHF. All of my comments are contained on the charts.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/AUDCHF-W-24052015.png\"><img class=\"aligncenter size-large wp-image-6021\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/AUDCHF-W-24052015-1024x574.png\" alt=\"AUDCHF W 24052015\" width=\"1024\" height=\"574\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/CADCHF-W-24052015.png\"><img class=\"aligncenter size-large wp-image-6020\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/CADCHF-W-24052015-1024x574.png\" alt=\"CADCHF W 24052015\" width=\"1024\" height=\"574\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/CHFJPY-W-24052015.png\"><img class=\"aligncenter size-large wp-image-6019\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/CHFJPY-W-24052015-1024x574.png\" alt=\"CHFJPY W 24052015\" width=\"1024\" height=\"574\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/EURCHF-W-24052015.png\"><img class=\"aligncenter size-large wp-image-6018\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/EURCHF-W-24052015-1024x574.png\" alt=\"EURCHF W 24052015\" width=\"1024\" height=\"574\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/GBPCHF-W-25052015.png\"><img class=\"aligncenter size-large wp-image-6017\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/GBPCHF-W-25052015-1024x574.png\" alt=\"GBPCHF W 25052015\" width=\"1024\" height=\"574\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/NZDCHF-W-24052015.png\"><img class=\"aligncenter size-large wp-image-6016\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/NZDCHF-W-24052015-1024x574.png\" alt=\"NZDCHF W 24052015\" width=\"1024\" height=\"574\" /></a>\r\n\r\n&nbsp;\r\n\r\n<u>4.6 - MAJOR TRADING PAIRS WITH LONGER-TERM TRENDS MATCHING:</u>\r\n\r\nThe 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/2015/05/PS-TRENDING-PAIRS-24052015.png\"><img class=\"aligncenter size-full wp-image-5999\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/PS-TRENDING-PAIRS-24052015.png\" alt=\"PS TRENDING PAIRS 24052015\" width=\"412\" height=\"546\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n<u>4.7 - THE KEY SUPPORT &amp; RESISTANCE LEVELS WITH THE USD MAJORS</u><strong><u>:\r\n</u></strong>(The reviews in the section are accompanied with daily and / or weekly charts of the USD majors)\r\n\r\nINTRODUCTION:\r\n\r\nI have received a few questions asking about what process I go through when looking at charts to establish whether or not I decide to take a trade or not. For the EUR/USD below, I have attempted to show the process. I hope this is of some benefit.\r\n\r\n<strong>EUR/USD: Closing Price 1.1006</strong>\r\n\r\nIt has been quite a move lower in the past 7 days.\r\n\r\nAll of my thoughts are on the following charts and twitter will confirm a RADAR TRADE RT433 set up as soon as it is lodged with my broker.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/EURUSD-W-24052015.png\"><img class=\"aligncenter size-large wp-image-6002\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/EURUSD-W-24052015-1024x574.png\" alt=\"EURUSD W 24052015\" width=\"1024\" height=\"574\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/EURUSD-D-24052015.png\"><img class=\"aligncenter size-large wp-image-6003\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/EURUSD-D-24052015-1024x574.png\" alt=\"EURUSD D 24052015\" width=\"1024\" height=\"574\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/EURUSD-240M-24052015.png\"><img class=\"aligncenter size-large wp-image-6004\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/EURUSD-240M-24052015-1024x574.png\" alt=\"EURUSD 240M 24052015\" width=\"1024\" height=\"574\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/RT433-EURUSD-60M-24052015.png\"><img class=\"aligncenter size-large wp-image-6005\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/RT433-EURUSD-60M-24052015-1024x574.png\" alt=\"RT433 EURUSD 60M 24052015\" width=\"1024\" height=\"574\" /></a>\r\n\r\n&nbsp;\r\n\r\nSupport in the EUR/USD is at 1.0960 with resistance is at 1.1040\r\n\r\n&nbsp;\r\n\r\n<strong>GBP/USD: Closing Price 1.5471</strong>.\r\n\r\nHoly Mother of God. This pair drives me crazy. It was on a tear higher and now the damn thing looks so bearish, I think that the Cameron win election frenzy is over, well it looks to be. This is cable, it could turn tomorrow and head 300 pips higher once again. It was almost but not quite a weekly bearish engulfing candle on the weekly chart.\r\n\r\nI have additional thoughts and comments on the chart below.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/GBPUSD-W-25052015.png\"><img class=\"aligncenter size-large wp-image-6006\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/GBPUSD-W-25052015-1024x574.png\" alt=\"GBPUSD W 25052015\" width=\"1024\" height=\"574\" /></a>\r\n\r\n&nbsp;\r\n\r\nSupport should be at 1.5540 and resistance at 1.5520.\r\n\r\n<strong> </strong>\r\n\r\n<strong>AUD/USD: Closing Price 0.7808</strong>.\r\n\r\nMy comments and thoughts together with a RADAR TRADE RT434 set up are included on the chart below. The trade will be confirmed via twitter as soon as I have it set up with my broker.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/RT434-AUDUSD-W-24052015.png\"><img class=\"aligncenter size-large wp-image-6007\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/RT434-AUDUSD-W-24052015-1024x574.png\" alt=\"RT434 AUDUSD W 24052015\" width=\"1024\" height=\"574\" /></a>\r\n\r\n&nbsp;\r\n\r\nSupport should now be at 0.7750 and resistance at 0.7920.\r\n\r\n&nbsp;\r\n\r\n<strong>NZD/USD: Closing Price 0.7289</strong>.\r\n\r\nMy comments related to this pair are contained on the charts below, plus a RADAR TRADE set up RT435 which will be confirmed via twitter as soon as it is with my broker.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/NZDUSD-W-24052015.png\"><img class=\"aligncenter size-large wp-image-6008\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/NZDUSD-W-24052015-1024x574.png\" alt=\"NZDUSD W 24052015\" width=\"1024\" height=\"574\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/RT435-NZDUSD-D-24052015.png\"><img class=\"aligncenter size-large wp-image-6009\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/RT435-NZDUSD-D-24052015-1024x574.png\" alt=\"RT435 NZDUSD D 24052015\" width=\"1024\" height=\"574\" /></a>\r\n\r\nSupport is at 0.7166 and resistance is at 0.7420.\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n<strong>USD/CAD: Closing Price 1.2277.</strong>\r\n\r\nI have my comments for this pair contained on the charts below plus a RADAR TRADE set up RT436, which will be confirmed via twitter as soon as it is set up with my broker.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/USDCAD-W-24052015.png\"><img class=\"aligncenter size-large wp-image-6010\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/USDCAD-W-24052015-1024x574.png\" alt=\"USDCAD W 24052015\" width=\"1024\" height=\"574\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/RT436-USDCAD-D-24052015.png\"><img class=\"aligncenter size-large wp-image-6013\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/RT436-USDCAD-D-24052015-1024x574.png\" alt=\"RT436 USDCAD D 24052015\" width=\"1024\" height=\"574\" /></a>\r\n\r\n&nbsp;\r\n\r\nSupport should be good at 1.2160 and resistance is at 1.2350.\r\n\r\n<strong> </strong><strong> </strong>\r\n\r\n<strong>USD/CHF: Closing Price 0.9410</strong>.\r\n\r\nMy comments for this pair are contained on the chart.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/USDCHF-D-24052015.png\"><img class=\"aligncenter size-large wp-image-6011\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/USDCHF-D-24052015-1024x574.png\" alt=\"USDCHF D 24052015\" width=\"1024\" height=\"574\" /></a>\r\n\r\n&nbsp;\r\n\r\nSupport is at 0.9350 and resistance at 0.9450.\r\n\r\n<strong> </strong>\r\n\r\n<strong>USD/JPY: Closing Price 121.53. </strong>\r\n\r\nA nice move higher in the past week over 200 pips, but we are still range bound.\r\n\r\nIf you are range trader enjoy… If not, then stay away.\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/USDJPY-W-24052015.png\"><img class=\"aligncenter size-large wp-image-6012\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/USDJPY-W-24052015-1024x574.png\" alt=\"USDJPY W 24052015\" width=\"1024\" height=\"574\" /></a>\r\n\r\n&nbsp;\r\n\r\nSupport is at 118.50 and resistance at 122.50.\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n<ol start=\"5\">\r\n	<li><strong><u> THE CONCLUSION - MY FINAL THOUGHTS:</u></strong></li>\r\n</ol>\r\n<u>5.1 - SUBSCRIBING TO THE “FREE VERSION” OF THE WEEKLY FX DRIVE THRU:</u>\r\n\r\nIf you like what you have almost completed reading and want to have THE WEEKLY FX DRIVE THRU delivered direct to your email inbox next week, here is what you do: -\r\n\r\nGo to my website: - <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a>\r\n\r\nOn the right hand side of the welcome page under my bio “about me” there is a blue box titled SUBSCRIBE TO FREE NEWSLETTER, click on profile and add your email address. It is as simple and straightforward as that.\r\n\r\nI do NOT sell your email data to anyone…do not worry...one less thing to worry about!\r\n\r\nIf you really like my way of explaining things…subscribe to either the PREMIUM SERVICE SILVER or GOLD by visiting my website <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a>\r\n\r\n&nbsp;\r\n\r\n<u>5.2 –TRADING TIPS &amp; THOUGHTS FOR THE WEEK AHEAD: </u>\r\n\r\nNot much on the economic data front this week.\r\n\r\nIf I were pushed to give a surprise event other than GREECE being sorted…. sorry, just checked the Weather Channel, the BBC and CNN – Hell has not yet frozen over, it would be: to not rule out a slim chance that the BOC could cut interest rates on Wednesday by 0.25% to 0.50%. There is no press conference and no statement required this month.\r\n\r\nReturning to GREECE. To say the position is desperate is an understatement of mammoth proportions. I have not changed my position; I think a default is the only solution with GREECE returning to the Drachma.\r\n\r\nAs always, there will be trades to trade and there will be some great opportunities, please trade in line with your RISK MANAGEMENT parameters from your TRADING PLAN. If you do not have a TRADE PLAN, in my opinion, you should, as this will help you with consistency.\r\n\r\n<strong>Consistency = longevity in trading and that is a critical goal.\r\nIT IS THE KEY MEASUREMENT</strong>\r\n\r\nBefore you enter a trade work out the risk, price it in $$$. Place your stop accordingly. PREMIUM SERVICE subscribers have a full library of information on RISK MANAGEMENT, RISK TOLERANCES and POSITION SIZING etc. available for reference 24x7.\r\n\r\n&nbsp;\r\n\r\nTake care.\r\n\r\nScott Pickering\r\nThe Pip Accumulator\r\nSunday May 24th 2015\r\n\r\nEMAIL / FOLLOW ME AT:\r\npremiumservice@weeklyfxdrivethru.com\r\nTwitter: @pipaccumulator\r\nTwitter: @ThePremService\r\nGoogle+/scottpickering\r\nTumblr: thepipaccumulator\r\n\r\n<u>VIEWS AND COMMENTS IN THIS BLOG:</u>\r\n\r\nAll the comments and views expressed in my blog are my thoughts and ideas only. They are based on my FUNDAMENTAL views of the markets and my thoughts on the individuals concerned on how they manage positions in the public domain. In addition, I have my own thoughts and views about what I think goes on behind closed doors. You should NOT base any trade ideas on my thoughts and views alone. As I have said on many occasions in my blog, I am a FUNDAMENTAL trader first, then a TECHNICAL trader second using chart analysis to establish what I believe to be excellent trade entry positions. However, you must make up your own mind and trade at your own risk deciding if the entry levels I refer to actually meet with your views and thoughts. This makes complete sense as the risk in trading your account is 100% owned by you.\r\n\r\n<u>THIRD PARTY COMPANIES WITH BANNERS ON MY WEBSITE:</u>\r\n\r\nThere are a small number of companies with banners on my website. In the interests of full disclosure I have a reciprocal business arrangement with these companies to promote their products. Unlike many of my competitors, I use the products and services provided by these companies. I will NOT allow any third party on my website unless I am 100% happy that they can back up their promise. By virtue of the fact, I work with these companies almost daily. I am more than confident to have them advertise on my website. Any reader who buys products or services from any advertiser via a banner on my website, <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a> will automatically have my help and assistance with any issues that they may have with my partnered advertisers.\r\n\r\n<u>TRADING &amp; PERFORMANCES DISCLAIMER:</u>\r\n\r\nFLASH, RADAR and FUNDAMENTAL trade set-ups, “Tweets” and “Trade ideas” that are posted in my blogs or on Twitter are trades and set-ups that interest me. They are provided for training and informational purposes only and should not be interpreted as an offer, solicitation or recommendation of any specific security or investment strategy. Past performance is not indicative of future results. Trading Forex carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to trade any such leveraged products you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with trading on margin, and seek advice from an independent financial adviser if you have any doubts.','GREECE - THE OPTIONS... IS IT A or B?','','inherit','open','closed','','6022-revision-v1','','','2015-05-23 14:22:15','2015-05-23 19:22:15','',6022,'https://weeklyfxdrivethru.com/6022-revision-v1/',0,'revision','',0),(6024,1,'2015-05-23 14:24:09','2015-05-23 19:24:09','<h3 style=\"text-align: center;\"><strong>THE PREMIUM SERVICE\r\n</strong><strong>The Home of Single-Lot Trading\r\nwww.weeklyfxdrivethru.com</strong></h3>\r\n<strong>DATE: 24.05.2015\r\nREFERENCE: #61\r\n</strong><strong>BLOG: THE PREMIUM SERVICE</strong>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n<ol>\r\n	<li><strong> INTRODUCTION - MY OVERVIEW OF THE FOREX MARKET:</strong></li>\r\n</ol>\r\n<u>LOOKING BACKWARDS, FORWARDS &amp; SIDEWAYS (FOR GOOD MEASURE) AT THE FX MARKET:</u>\r\n\r\n<u>1.1 - LOOKING BACKWARDS:</u>\r\n\r\nIt was a strange trading week. It wasn’t the first strange one this year and without question, I think that I am safe to say that it will not be the last one either. I had to travel a little during the week so from my own trading perspective it was a little dis-jointed, but I also know that many subscribers found the week weird to trade for a number of factors and that they were tied to their computers all week.\r\n\r\nFOMC MEETING MINUTES:\r\n\r\nThese always achieve premier billing when the week’s news is reviewed. The hype over when the FED will raise interest rates in the U.S. quite frankly now borders on the ridiculous. When will it happen…. as Frasier Crane once stated “Time is irrelevant here in the 7<sup>th</sup> circle of hell……this is the place where even despair dies”. This is how I feel on the subject. Will someone please stick a “red hot poker” up the collective ass of the FED and just do it. Feck the bloody data, it is always going to be mixed at best this year…do it …be done and lets move on.\r\n\r\nIf I hear Steve Liesman on CNBC anymore, whining about FED language and the data, I think I will be on Knob Creek and Diets for breakfast to accompany my famous, and, without doubt, best in the world Montreal bagel from Fairmont Bagel. I know that I am originally from Liverpool and have a low patience tolerance but give me a fecking break.\r\n\r\nMoving on from the pleasantries, the minutes were neither one thing nor the other. Even the friggin FOMC committee is bored with when they should raise rates and what language should be released in the minutes. It looks like a hike in June is not going to happen but hey, never say never. September looks favourite now, but about a week ago it was never going to happen in 2015 the consumer data was sooooooo bad.\r\n\r\nIt’s all about Wall Street. The fund managers who suckle on the teat of the FED and cannot manage without their hands being held are now so spoilt, they expect the FED to say that it will happen precisely on this day at this time. Bernanke did a great job in my opinion but my God, he has spoilt Wall Street.\r\n\r\nI question who runs the U.S. Its not the dysfunctional idiots in Washington who were elected by the people. All they do is inter-party squabble and place party and personal politics ahead of the countries national interest. Is it the FED that runs the U.S.? At times they appear to be one with Wall Street and not Main Street. Who looks after the people that need help in the U.S.? That is another blog to write…\r\n\r\nEUROZONE PMi DATA and GERMAN ZEW AND IFO DATA:\r\n\r\nRather mixed in my opinion. Taking a view from a macro level. The EUROZONE data looks to be mainly improving, however, German data is not consistent. It is good to see French and Spanish data generally improving, but Italy must now be a concern. After GREECE defaults, the markets will be pressurizing the Italians next, and if, as I expect the Greeks are back with the Drachma, the Italians will want the Lira. The CONTAGION begins.\r\n\r\nU.S. and CANADIAN CPi DATA:\r\n\r\nCanadian Data was weaker than expected but the U.S. data on Consumer Prices was strong, sending the DXY higher (see below).\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/CPi-DATA-24052015.png\"><img class=\"aligncenter size-full wp-image-5990\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/CPi-DATA-24052015.png\" alt=\"CPi DATA 24052015\" width=\"816\" height=\"160\" /></a>\r\n\r\nQuite frankly, the DXY looks to be in a bullish A+D = C=D style pattern, which, if (and it is a big if)…it plays out could place the DXY at 115.00. Where would that place the EUR/USD? Sub parity for sure.\r\n\r\nLast Friday, on the back of consumer prices the USD went crazy taking the EUR/USD from 1.1160 to 1.0970 at one point before pulling back a little.\r\n\r\nInside Section 4 there is a chart of the USD Index (DXY) that I have included showing the potential of the DXY potential measured move and what this potentially means for us as Forex Traders from just one currency pair. I hope that I can expand on this matter next week.\r\n\r\nSince the CPi data release, I have not viewed CNBC or BLOOMBERG as I do not think that I could take the commentary. It is amazing what a little bit of inflation data can do.\r\n\r\n&nbsp;\r\n\r\n<u>1.2 - LOOKING FORWARDS:</u>\r\n\r\n<u>MAJOR FOREX NEWS THIS WEEK THAT INTERESTS ME:</u>\r\n\r\n<u>(There are many more news items related to the Forex Market than the ones listed below. These are the ones that interest me. You can go to </u><a href=\"http://www.forexfactory.com\">www.forexfactory.com</a><u> and </u><a href=\"http://www.tradingeconomics.com\">www.tradingeconomics.com</a><u> for more comprehensive lists of all news events that are Forex related).</u>\r\nSUNDAY: N/A.\r\n\r\nMONDAY: NZD – Trade Balance.\r\n\r\nTUESDAY: USD - CB Consumer Confidence.\r\n\r\nWEDNESDAY: BOC – Rate Statement.\r\nWEDNESDAY: AUD – PCE Data.\r\n\r\nTHURSDAY: NZD – ANZ Business Confidence.\r\n\r\nFRIDAY: GBP – GDP.\r\nFRIDAY: USD – GDP.\r\nFRIDAY: CAD – GDP.\r\n\r\n&nbsp;\r\n\r\n<u>1.3 - LOOKING SIDEWAYS (FOR GOOD MEASURE!!): </u>\r\n\r\nWhilst this blog goes as a FREE NEWSLETTER to subscribers via THE WEEKLY FX DRIVE THRU web site, it is essentially a review for my PREMIUM SERVICE GOLD SUBSCRIBERS. Part of the blog is only for GOLD SUBSCRIBERS for obvious reasons and basically those who subscribe through my website or access it via social media get a feel for what is provided through the other “open” sections. This section refers to correspondence with subscribers over the past 7 days.\r\n\r\nThe main theme or questions, views and comments this week were: -\r\n\r\nTRADING CONDITIONS and PROFITABILITY:\r\n\r\nIt is hard at the moment and I am saying this after a really good week of PREMIUM SERVICE trading. As I have told several of you, my own trading account varies in profitability from the PREMIUM SERVICE account. I operate the PREMIUM SERVICE account with single lot trades. These are placed across 4 different broker accounts.\r\n<ul>\r\n	<li>1 - COMMODITY X RATE PAIRS &amp; FUNDAMENTAL TRADES.</li>\r\n	<li>2 – RADAR TRADES (USD MAJORS).</li>\r\n	<li>3 – FLASH TRADES (USD MAJORS).</li>\r\n	<li>4 – NON USD MAJOR TRADES.</li>\r\n</ul>\r\nThese accounts make money.\r\n\r\nWith my own trading accounts, I trade different lot sized trades and my loss trades always seem to be those with a bigger position being traded. So pip wise the loss can be similar to the PREMIUM SERVICE but financially losses are multiplied. If you recall, I worked off my FXCM loss after the CHF peg removal and then some squeezes set me back.\r\n\r\nI think that one of my subscribers described the market a month or so ago as “one step forwards and two steps backwards”. This is true as far as my personal trading is concerned. I am managing risk but my larger sized trades are unfortunately just not working out. I have had smallish pip losses, but larger $$$ losses than the single lot trades that are undertaken through the PREMIUM SERVICE. I hope that this makes sense to calculate. Common sense says why not trade all trades the same size, I wont trade GBP/NZD or any X rate pair the same size as a EUR/USD or EUR/GBP trade, so there has to be a difference. This is how and why overall performances can differ from those in the PREMIUM SERVICE\r\n\r\nI sidetracked a little here but the bottom line is we are in a range bound market and there is still a lot of geopolitical news in the air. Whilst we may agree that the equity markets are at extremes, the markets are stretched and twitchy at these levels. The biggest buyers of shares are companies themselves re-purchasing stock and I would say that the markets are just waiting for a reason to pullback. This causes lack of correlation, which fuels uncertainty and this manifests itself through some strange moves neither FUNDAMENTALLY or DATA driven.\r\n\r\nLike many of you guys, I suffer as well. All I can say is slow and steady wins the race. The PREMIUM SERVICE single-lot trades offer all round consistency of a performance return.\r\n\r\nTRENDING MARKET CONDITIONS:\r\n\r\nI cannot see this happening until GREECE is out of the way. Only then do I think that the Central bank divergences will take a prime role. We have to be patient. It may never happen, but in section 4 (for subscribers only) I have aired my views on trades which, show some great $$$ opportunities should it happen. Some of the charts in section 4 this week in my opinion show the best $$$ opportunities we have had this year so far. They are all technical set ups that match and meet 100% with my FUNDAMENTAL views.\r\n\r\nI could be bold and say this is the TRENDING MARKET but even though I am very positive, these trades will not move in straight lines as you know and they could take several moves along the way that may cut against the overall trending move.\r\n\r\n&nbsp;\r\n<ol start=\"2\">\r\n	<li><strong><u> WHAT’S ON MY MIND: -\r\nTHE FUNDAMENTAL TRADERS OVERVIEW:</u></strong></li>\r\n</ol>\r\n<h3 style=\"text-align: center;\"><span style=\"text-decoration: underline;\"><strong>GREECE - THE OPTIONS... IS IT A or B?</strong></span></h3>\r\nA short view this week, I keep being asked why am I so Anti-European?\r\n\r\nThe simple plain matter of fact is that I am not Anti-European, just anti the EUROZONE single currency and what it stands for and how it was introduced into so many countries without the people being able to vote. So much for European democracy!!\r\n\r\nI could write for pages on this subject, so in advance, please forgive me for keeping this brief and at a high level.\r\n\r\nBasically as I see it, GREECE has two options and for simplicity and consistency I am going to call them Option A and not surprisingly Option B.\r\n\r\n<span style=\"text-decoration: underline;\">OPTION A:</span>\r\n\r\n<span style=\"text-decoration: underline;\">GREECE DEFAULTS ON IT’S NEXT SET OF PAYMENTS TO ITS CREDITORS.</span>\r\n\r\nFor me, this is the most likely scenario.\r\n\r\nWhat happens?\r\n\r\nInitially, I expect CAPITAL CONTROLS. The Central Bank will issue firm rules on moving money in and out of the country and there will probably be cash limits on withdrawals from banks over the counter. I would expect cash machines to be taken off line.\r\n\r\nNext, I expect that the GREEK GOVERNMENT will formally announce that they are withdrawing from the single-currency and that the Drachma will be re-introduced. It will probably be phased in as a parallel currency along the lines that the EUR was introduced back in the day to replace the Drachma. There is scaremongering going on stating that paying for items in EUR instead Drachma will be cheaper. There should be an official exchange rate between the two currencies to avoid that.\r\n\r\nThe markets…. equities I expect to close down for 48 hours or so. Bonds will be mental and the Forex Market will be on acid.\r\n\r\nI expect the EUR/USD to fall initially quite hard and fast, however here are commentators that have told me directly that they expect the EUR to strengthen on the news of a GREECE exit. This is based upon the fact that the weak link is removed.\r\n\r\nMy view is somewhat different. I expect right wing groups in SPAIN, ITALY and PORTUGAL to grow in popularity and threaten political stability. This would be on the basis of, if GREECE can exit and have the Drachma back, we will have our Pesetas, Liras and Escudos back. Losing ones sovereign currency is a big thing. Unless you are European and lost your sovereignty you don’t get it.\r\n\r\nI predict a CONTAGION effect.\r\n\r\nThis will keep the single currency pressured to the downside.\r\n\r\n<span style=\"text-decoration: underline;\">OPTION B:</span>\r\n\r\n<span style=\"text-decoration: underline;\">THE TRIOKA AGREE TERMS WITH GREECE TO EXTEND CREDIT FACILITIES – AGREE BAILOUT III</span>\r\n\r\nThis is what I will call the kicking of the can down the road solution. There is no better place on this glorious planet than the EUROZONE for can kicking.\r\n\r\nBasically, GREECE gets terms that they feel that they can meet. We all know that severe cost cutting and selling prized assets is what the Tsipras led Government needs to do to achieve this result. That will not happen. It is NOT the GREEK psyche. Culturally NEVER going to happen. They may say that they will BUT they wont do it.\r\n\r\nThe only settlement is a haircut being agreed with creditors. Up to now creditors have stood firm - all or nothing. This is dead simple. Something is better than nothing. This is the only B option that will work in my opinion.\r\n\r\nWhat happens?\r\n\r\nThe introduction of CAPITAL CONTROLS and the Drachma is avoided.\r\n\r\nThe equities and Forex markets will sell off and then bounce on the news. Then give it time…\r\n\r\nThe CONTAGION effect comes into play.\r\n\r\nAll governments that have had bailouts since the 2008-9 crash will want to be treated as the GREECE government has been treated. Essentially, why should bad behavior be rewarded? The Likes of PORTUGAL, IRELAND, CYPRUS etc will ask for their conditions to be reviewed and revised….they too will be looking for cheques in the post from Frankfurt.\r\n\r\nOn the news of refunds being demanded from various governments around the EUROZONE, the EUR/USD will fall under uncertainty. There will be calls of “refund or we leave”. The extreme parties will say one rule for one but not one rule for all, this is anti the agreement we co-signed at the outset.\r\n\r\nThis will keep the EUR/USD pressured to the downside.\r\n\r\nYou can agree with me 100%, 50% or whatever. You can disagree entirely with my thoughts. I will always have an opinion.\r\n\r\nThe simple fact is that something is going to happen and the name of the Jack Nicholson movie “Something’s Gotta Give” comes to mind.\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n<ol start=\"3\">\r\n	<li><strong></strong><strong><u> THE PREMIUM SERVICE:</u></strong>&nbsp;</li>\r\n</ol>\r\n<strong><u>SUMMARY OF PERFORMANCE:</u></strong>\r\n\r\n<u>3.1 – OVERVIEW and SUBSCRIPTION OPTIONS, FEATURES and PRICING:</u>\r\n\r\nFor new readers who may not be aware, I refer to the PREMIUM SERVICE quite a lot in this blog and for more details about what it is, and, how much it costs, you will need to go the welcome page of <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a>\r\n\r\nAt the top of my welcome page there are three drop down menus: -\r\nPREMIUM SERVICE PROMOTIONS (if available)\r\nSIGN-UP\r\nDISCLAIMER\r\n\r\nFurther details and how to join are all contained there. You will need a PayPal account to subscribe.\r\n\r\nBelow I provide an overview of the GOLD and SILVER subscription options and pricing.<u> </u>\r\n\r\n<u>GOLD MEMBER SUBSCRIPTION FEATURES &amp; PRICING OPTIONS:\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\">weeklyfxdrivethru.com</a></li>\r\n	<li>A dedicated exclusive twitter feed for GOLD MEMBER subscribers only @ThePremService.</li>\r\n	<li>All trade set-ups communicated via Twitter and RADAR and FUNDAMENTAL trades additionally via email when possible.</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\">weeklyfxdrivethru.com</a></li>\r\n	<li>My thoughts and comments on market conditions via twitter and/or email.</li>\r\n</ul>\r\nGOLD MEMBER SUBSCRIPTION OPTION PRICING:\r\n(Please note that PayPal works in months NOT weeks)\r\n\r\n10 weeks / 3 months:               USD $295.00\r\n20 weeks / 6 months:               USD $495.00\r\n40 weeks / 12 months:             USD $795.00\r\n\r\n&nbsp;\r\n\r\n<u>SILVER MEMBER SUBSCRIPTION FEATURES &amp; PRICING OPTIONS:\r\n</u>\r\n<ul>\r\n	<li>Simple 4 weekly (monthly) membership pricing.</li>\r\n	<li>A dedicated exclusive twitter feed for SILVER MEMBER subscribers only @PremServSilver.</li>\r\n	<li>All my trade set-ups delivered to you via the SILVER MEMBER subscriber twitter feed @PremServSilver.</li>\r\n	<li>Access to the PREMIUM SERVICE website (relevant trade information only).</li>\r\n	<li>The “FREE NEWSLETTER” version of THE WEEKLY FX DRIVE THRU delivered weekly direct to you email inbox and viewable online at <a href=\"http://www.weeklyfxdrivethru.com\">weeklyfxdrivethru.com</a></li>\r\n</ul>\r\nSILVER MEMBER SUBSCRIPTION OPTION PRICING:\r\n(Please note that PayPal works in months NOT weeks)\r\n\r\n4 weeks / 1 month:                    USD $100.00\r\n\r\n&nbsp;\r\n\r\n<u>3.2 - SUMMARY OF PERFORMANCE:</u>\r\n\r\n<u>3.2.1 – PREMIUM SERVICE – COST INCOME ANALYSIS (USD):</u>\r\n\r\n&nbsp;\r\n<p style=\"text-align: center;\">EMANATING FROM TRADE SET-UPS - 2015 to date:</p>\r\n<p style=\"text-align: center;\"><u>MICRO LOT TRADER</u> - 365 trades cost to trade = $36.50\r\n<strong>PROFIT</strong> from 365 trades = <strong><u>$519.30</u></strong></p>\r\n<p style=\"text-align: center;\"><u>MINI LOT TRADER</u> - 365 trades cost to trade = $365.00\r\n<strong>PROFIT</strong> from 365 trades = <strong><u>$5,193.00</u></strong></p>\r\n<p style=\"text-align: center;\"><u>STANDARD LOT TRADER</u> - 365 trades cost to trade = $3,650.00\r\n<strong>PROFIT</strong> from 365 trades = <strong><u>$51,930.00</u></strong></p>\r\n<p style=\"text-align: center;\">If the above return from Forex Trading interests you go to</p>\r\n<p style=\"text-align: center;\"><a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a> and check out the subscription options under the tab “PREMIUM SERVICE”.</p>\r\n<p style=\"text-align: center;\">The performance above is based off single-lot trade sizes.</p>\r\n<p style=\"text-align: center;\">THE PREMIUM SERVICE has subscribers with broker accounts of sizes ranging from $2,500 to over $100,000.</p>\r\n<p style=\"text-align: center;\">A profitable trade is a profitable trade. It is all about trading according to the size of your broker account (EFFECTIVE POSITION SIZING) and applying RISK MANAGEMENT principles at all times.</p>\r\n&nbsp;\r\n\r\n<u>3.2.2 - PREMIUM SERVICE - OVERALL TRADE SUMMARY MONTH &amp; YTD:</u>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/PREM-SERV-PROFITS1-24052015.png\"><img class=\"aligncenter size-full wp-image-5991\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/PREM-SERV-PROFITS1-24052015.png\" alt=\"PREM SERV PROFITS1 24052015\" width=\"459\" height=\"427\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/PREM-SERV-PROFITS2-24052015.png\"><img class=\"aligncenter size-full wp-image-5992\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/PREM-SERV-PROFITS2-24052015.png\" alt=\"PREM SERV PROFITS2 24052015\" width=\"460\" height=\"421\" /></a>\r\n\r\n&nbsp;\r\n<ol start=\"4\">\r\n	<li><strong><u> PREMIUM SERVICE SUBSCRIBER EXCLUSIVE CONTENT:</u></strong></li>\r\n</ol>\r\n(Section 4 is exclusive PREMIUM SERVICE content only available to PREMIUM SERVICE subscribers)\r\n\r\n<u>4.1 - EDUCATION:\r\n</u>(The full list of all items and more from this section can be found in the PREMIUM SERVICE website in the Trade Essential area under the EDUCATION tab.)\r\n\r\nThis section will return soon. At the moment this section of the website is under review and I do not want to add more work until the final look is agreed.\r\n\r\nFor now bear with me. Whilst it is sometimes difficult to have topics, I have a few in the can as they say.\r\n\r\n&nbsp;\r\n\r\n<u>4.2 – THE PREMIUM SERVICE – TRADING REVIEW:</u>\r\n\r\nAs I think I mentioned already, I was traveling a little last week and whilst I found the week a little rushed at times, I am in agreement with several of you in the sense that when you think its going great, that is then the time to bank your profits. Too often, and I am more guilty than most I try to let the profitable trades run, only to have them blow up in my face. When I cut a profitable trade too early, those are the trades that go on to make another 100 pips plus.\r\n\r\nThe classic example of this was last Friday before the U.S. CPi data. I closed AUD/USD, NZD/USD and USD/CHF trades all for profits but missed out on over 250 pips of additional moves.\r\n\r\nGuys… I am that good. Anyone that tells you they could have foreseen the U.S. data is bullshitting you. The recent run of U.S. data has been weak to say the least. I closed several trades ahead of a high RISK news event. It was the correct thing to do. These pairs were to be directly affected by the news.\r\n\r\nI left my USD/CAD open, as I know from recent TV reports that the malls and general spending in Canada was down. There was a slight chance that the CPi data would be good but in my opinion it would be weak, which it was. As a result I took 35 pips on the USD/CAD and exited a loss position with profits.\r\n\r\nEveryday, we seem to be faced with Asian markets in one direction, then Europe reverses it and then at the European close it turns again. This factor plus the very thin market volumes makes it difficult. I had a very short webinar with my peer group last week. Everyone feels the same way, and, everyone felt they were getting pushed first one way and then the other. The consensus was that the market is becoming a day trader market only. At the time of that meeting, I agreed. However, I see opportunities now with hopefully some longer-term trades that could signal the start of a trend.\r\n\r\nWe just need GREECE out of the way. After GREECE I think matters will be clearer all round, and frankly entering trades will be done with more confidence. Unfortunately, these trades are available now and we need to be selective.\r\n\r\nFrom a pip perspective there were some very profitable trades last week, as early in the week we had a firm direction. This just faded as we came towards the FOMC and the FOMC minutes were a non-event in my eyes. Friday, the day of the week apart from Sunday night that I hate the most saw a powerful USD move which saw the DXY move back to 97.00.\r\n\r\nWhen you look at the DXY chart we have a chart pattern that could set up a move to 115.00 or greater. This pattern forms the start of the technical set-ups on charts that I will go through later. However, I must point out that should we move to 115.00 or above in the DXY there would be some absolutely terrific monster moves in the USD majors. Given my FUNDAMENTAL views these meet perfectly with these technical indicators hence my excitement.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/USD-DXY-24052015.png\"><img class=\"aligncenter size-large wp-image-5998\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/USD-DXY-24052015-1024x445.png\" alt=\"USD DXY 24052015\" width=\"1024\" height=\"445\" /></a>\r\n\r\n&nbsp;\r\n\r\nMonday and Tuesday next week, I will be trying to get reasonable entries on the highlighted pairs. We just need modest 23% to 38% (preferred) Fibonacci pullbacks from today’s extensions.\r\n\r\n&nbsp;\r\n\r\n<u>4.3 - THE PREMIUM SERVICE - EXISTING LIVE TRADES:</u>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/PS-LIVE-TRADES-24052015.png\"><img class=\"aligncenter size-full wp-image-6000\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/PS-LIVE-TRADES-24052015.png\" alt=\"PS LIVE TRADES 24052015\" width=\"723\" height=\"572\" /></a>\r\n\r\n&nbsp;\r\n\r\n<u>4.4 - THE PREMIUM SERVICE – EXISTING LIMIT ORDERS:</u>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/PREM-SERV-RADAR-TRADES-24052015.png\"><img class=\"aligncenter size-full wp-image-6001\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/PREM-SERV-RADAR-TRADES-24052015.png\" alt=\"PREM SERV RADAR TRADES 24052015\" width=\"705\" height=\"447\" /></a>\r\n\r\n&nbsp;\r\n\r\n<u>PLEASE NOTE:</u>\r\n\r\nRemember position sizes for suggested FUNDAMENTAL TRADES should be much smaller than usual, maybe only 20%-25% of your normal trading position size. It is only when we add to our positions that the fun begins. All FUNDAMENTAL trades posted via email contain a second page with details of where I will add trades and when and where stops are moved, the Stair Stepping Stop Protection (SSSP) is self-explanatory and I hope useful. Using this grows your trading position and helps protect the profits made, should the trade gain traction. In addition, I have added some detail on my HEDGING approach as well to the second FUNDAMENTAL TRADE alert page. More detailed information on HEDGING can be found inside the PREMIUM SERVICE website under the EDUCATION tab – Trading Essentials.\r\n\r\nI view the commodity cross-rate pairs, which form the basis of my FUNDAMENTAL TRADE SET-UPS as bonus trades away from the USD majors and over the year they can be very profitable. This is why I have a separate broker account for commodity cross-RATE PAIR trades. It gives me an immediate measurement of performance without the need to extrapolate data.\r\n\r\n<u>4.5 - POTENTIAL TRADES - WHAT CHARTS AM I LOOKING AT?</u>\r\n\r\n(This section usually contains charts mainly relating to non-USD majors, in particular the ones that I am working on and looking at because they catch my eye that may become potential trades in the trading sessions ahead. If there are no comments beneath the charts, my comments / thoughts are written on them directly. I will tweet and email as soon as these possible trades become LIMIT ORDERS)\r\n\r\n<u>THIS WEEKS OVERVIEW:</u>\r\n\r\nAs you may have gathered (reading between the lines on tweets and other commentaries) I will be focusing a lot of my intention on CHF pairs. This week with regards to the charts I am specifically looking at: -\r\n\r\nCHF/JPY, GBP/CHF, EUR/CHF, AUD/CHF, CAD/CHF and NZD/CHF. All of my comments are contained on the charts.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/AUDCHF-W-24052015.png\"><img class=\"aligncenter size-large wp-image-6021\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/AUDCHF-W-24052015-1024x574.png\" alt=\"AUDCHF W 24052015\" width=\"1024\" height=\"574\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/CADCHF-W-24052015.png\"><img class=\"aligncenter size-large wp-image-6020\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/CADCHF-W-24052015-1024x574.png\" alt=\"CADCHF W 24052015\" width=\"1024\" height=\"574\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/CHFJPY-W-24052015.png\"><img class=\"aligncenter size-large wp-image-6019\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/CHFJPY-W-24052015-1024x574.png\" alt=\"CHFJPY W 24052015\" width=\"1024\" height=\"574\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/EURCHF-W-24052015.png\"><img class=\"aligncenter size-large wp-image-6018\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/EURCHF-W-24052015-1024x574.png\" alt=\"EURCHF W 24052015\" width=\"1024\" height=\"574\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/GBPCHF-W-25052015.png\"><img class=\"aligncenter size-large wp-image-6017\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/GBPCHF-W-25052015-1024x574.png\" alt=\"GBPCHF W 25052015\" width=\"1024\" height=\"574\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/NZDCHF-W-24052015.png\"><img class=\"aligncenter size-large wp-image-6016\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/NZDCHF-W-24052015-1024x574.png\" alt=\"NZDCHF W 24052015\" width=\"1024\" height=\"574\" /></a>\r\n\r\n&nbsp;\r\n\r\n<u>4.6 - MAJOR TRADING PAIRS WITH LONGER-TERM TRENDS MATCHING:</u>\r\n\r\nThe 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/2015/05/PS-TRENDING-PAIRS-24052015.png\"><img class=\"aligncenter size-full wp-image-5999\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/PS-TRENDING-PAIRS-24052015.png\" alt=\"PS TRENDING PAIRS 24052015\" width=\"412\" height=\"546\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n<u>4.7 - THE KEY SUPPORT &amp; RESISTANCE LEVELS WITH THE USD MAJORS</u><strong><u>:\r\n</u></strong>(The reviews in the section are accompanied with daily and / or weekly charts of the USD majors)\r\n\r\nINTRODUCTION:\r\n\r\nI have received a few questions asking about what process I go through when looking at charts to establish whether or not I decide to take a trade or not. For the EUR/USD below, I have attempted to show the process. I hope this is of some benefit.\r\n\r\n<strong>EUR/USD: Closing Price 1.1006</strong>\r\n\r\nIt has been quite a move lower in the past 7 days.\r\n\r\nAll of my thoughts are on the following charts and twitter will confirm a RADAR TRADE RT433 set up as soon as it is lodged with my broker.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/EURUSD-W-24052015.png\"><img class=\"aligncenter size-large wp-image-6002\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/EURUSD-W-24052015-1024x574.png\" alt=\"EURUSD W 24052015\" width=\"1024\" height=\"574\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/EURUSD-D-24052015.png\"><img class=\"aligncenter size-large wp-image-6003\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/EURUSD-D-24052015-1024x574.png\" alt=\"EURUSD D 24052015\" width=\"1024\" height=\"574\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/EURUSD-240M-24052015.png\"><img class=\"aligncenter size-large wp-image-6004\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/EURUSD-240M-24052015-1024x574.png\" alt=\"EURUSD 240M 24052015\" width=\"1024\" height=\"574\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/RT433-EURUSD-60M-24052015.png\"><img class=\"aligncenter size-large wp-image-6005\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/RT433-EURUSD-60M-24052015-1024x574.png\" alt=\"RT433 EURUSD 60M 24052015\" width=\"1024\" height=\"574\" /></a>\r\n\r\n&nbsp;\r\n\r\nSupport in the EUR/USD is at 1.0960 with resistance is at 1.1040\r\n\r\n&nbsp;\r\n\r\n<strong>GBP/USD: Closing Price 1.5471</strong>.\r\n\r\nHoly Mother of God. This pair drives me crazy. It was on a tear higher and now the damn thing looks so bearish, I think that the Cameron win election frenzy is over, well it looks to be. This is cable, it could turn tomorrow and head 300 pips higher once again. It was almost but not quite a weekly bearish engulfing candle on the weekly chart.\r\n\r\nI have additional thoughts and comments on the chart below.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/GBPUSD-W-25052015.png\"><img class=\"aligncenter size-large wp-image-6006\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/GBPUSD-W-25052015-1024x574.png\" alt=\"GBPUSD W 25052015\" width=\"1024\" height=\"574\" /></a>\r\n\r\n&nbsp;\r\n\r\nSupport should be at 1.5540 and resistance at 1.5520.\r\n\r\n<strong> </strong>\r\n\r\n<strong>AUD/USD: Closing Price 0.7808</strong>.\r\n\r\nMy comments and thoughts together with a RADAR TRADE RT434 set up are included on the chart below. The trade will be confirmed via twitter as soon as I have it set up with my broker.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/RT434-AUDUSD-W-24052015.png\"><img class=\"aligncenter size-large wp-image-6007\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/RT434-AUDUSD-W-24052015-1024x574.png\" alt=\"RT434 AUDUSD W 24052015\" width=\"1024\" height=\"574\" /></a>\r\n\r\n&nbsp;\r\n\r\nSupport should now be at 0.7750 and resistance at 0.7920.\r\n\r\n&nbsp;\r\n\r\n<strong>NZD/USD: Closing Price 0.7289</strong>.\r\n\r\nMy comments related to this pair are contained on the charts below, plus a RADAR TRADE set up RT435 which will be confirmed via twitter as soon as it is with my broker.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/NZDUSD-W-24052015.png\"><img class=\"aligncenter size-large wp-image-6008\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/NZDUSD-W-24052015-1024x574.png\" alt=\"NZDUSD W 24052015\" width=\"1024\" height=\"574\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/RT435-NZDUSD-D-24052015.png\"><img class=\"aligncenter size-large wp-image-6009\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/RT435-NZDUSD-D-24052015-1024x574.png\" alt=\"RT435 NZDUSD D 24052015\" width=\"1024\" height=\"574\" /></a>\r\n\r\nSupport is at 0.7166 and resistance is at 0.7420.\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n<strong>USD/CAD: Closing Price 1.2277.</strong>\r\n\r\nI have my comments for this pair contained on the charts below plus a RADAR TRADE set up RT436, which will be confirmed via twitter as soon as it is set up with my broker.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/USDCAD-W-24052015.png\"><img class=\"aligncenter size-large wp-image-6010\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/USDCAD-W-24052015-1024x574.png\" alt=\"USDCAD W 24052015\" width=\"1024\" height=\"574\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/RT436-USDCAD-D-24052015.png\"><img class=\"aligncenter size-large wp-image-6013\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/RT436-USDCAD-D-24052015-1024x574.png\" alt=\"RT436 USDCAD D 24052015\" width=\"1024\" height=\"574\" /></a>\r\n\r\n&nbsp;\r\n\r\nSupport should be good at 1.2160 and resistance is at 1.2350.\r\n\r\n<strong> </strong><strong> </strong>\r\n\r\n<strong>USD/CHF: Closing Price 0.9410</strong>.\r\n\r\nMy comments for this pair are contained on the chart.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/USDCHF-D-24052015.png\"><img class=\"aligncenter size-large wp-image-6011\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/USDCHF-D-24052015-1024x574.png\" alt=\"USDCHF D 24052015\" width=\"1024\" height=\"574\" /></a>\r\n\r\n&nbsp;\r\n\r\nSupport is at 0.9350 and resistance at 0.9450.\r\n\r\n<strong> </strong>\r\n\r\n<strong>USD/JPY: Closing Price 121.53. </strong>\r\n\r\nA nice move higher in the past week over 200 pips, but we are still range bound.\r\n\r\nIf you are range trader enjoy… If not, then stay away.\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/USDJPY-W-24052015.png\"><img class=\"aligncenter size-large wp-image-6012\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/USDJPY-W-24052015-1024x574.png\" alt=\"USDJPY W 24052015\" width=\"1024\" height=\"574\" /></a>\r\n\r\n&nbsp;\r\n\r\nSupport is at 118.50 and resistance at 122.50.\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n<ol start=\"5\">\r\n	<li><strong><u> THE CONCLUSION - MY FINAL THOUGHTS:</u></strong></li>\r\n</ol>\r\n<u>5.1 - SUBSCRIBING TO THE “FREE VERSION” OF THE WEEKLY FX DRIVE THRU:</u>\r\n\r\nIf you like what you have almost completed reading and want to have THE WEEKLY FX DRIVE THRU delivered direct to your email inbox next week, here is what you do: -\r\n\r\nGo to my website: - <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a>\r\n\r\nOn the right hand side of the welcome page under my bio “about me” there is a blue box titled SUBSCRIBE TO FREE NEWSLETTER, click on profile and add your email address. It is as simple and straightforward as that.\r\n\r\nI do NOT sell your email data to anyone…do not worry...one less thing to worry about!\r\n\r\nIf you really like my way of explaining things…subscribe to either the PREMIUM SERVICE SILVER or GOLD by visiting my website <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a>\r\n\r\n&nbsp;\r\n\r\n<u>5.2 –TRADING TIPS &amp; THOUGHTS FOR THE WEEK AHEAD: </u>\r\n\r\nNot much on the economic data front this week.\r\n\r\nIf I were pushed to give a surprise event other than GREECE being sorted…. sorry, just checked the Weather Channel, the BBC and CNN – Hell has not yet frozen over, it would be: to not rule out a slim chance that the BOC could cut interest rates on Wednesday by 0.25% to 0.50%. There is no press conference and no statement required this month.\r\n\r\nReturning to GREECE. To say the position is desperate is an understatement of mammoth proportions. I have not changed my position; I think a default is the only solution with GREECE returning to the Drachma.\r\n\r\nAs always, there will be trades to trade and there will be some great opportunities, please trade in line with your RISK MANAGEMENT parameters from your TRADING PLAN. If you do not have a TRADE PLAN, in my opinion, you should, as this will help you with consistency.\r\n\r\n<strong>Consistency = longevity in trading and that is a critical goal.\r\nIT IS THE KEY MEASUREMENT</strong>\r\n\r\nBefore you enter a trade work out the risk, price it in $$$. Place your stop accordingly. PREMIUM SERVICE subscribers have a full library of information on RISK MANAGEMENT, RISK TOLERANCES and POSITION SIZING etc. available for reference 24x7.\r\n\r\n&nbsp;\r\n\r\nTake care.\r\n\r\nScott Pickering\r\nThe Pip Accumulator\r\nSunday May 24th 2015\r\n\r\nEMAIL / FOLLOW ME AT:\r\npremiumservice@weeklyfxdrivethru.com\r\nTwitter: @pipaccumulator\r\nTwitter: @ThePremService\r\nGoogle+/scottpickering\r\nTumblr: thepipaccumulator\r\n\r\n<u>VIEWS AND COMMENTS IN THIS BLOG:</u>\r\n\r\nAll the comments and views expressed in my blog are my thoughts and ideas only. They are based on my FUNDAMENTAL views of the markets and my thoughts on the individuals concerned on how they manage positions in the public domain. In addition, I have my own thoughts and views about what I think goes on behind closed doors. You should NOT base any trade ideas on my thoughts and views alone. As I have said on many occasions in my blog, I am a FUNDAMENTAL trader first, then a TECHNICAL trader second using chart analysis to establish what I believe to be excellent trade entry positions. However, you must make up your own mind and trade at your own risk deciding if the entry levels I refer to actually meet with your views and thoughts. This makes complete sense as the risk in trading your account is 100% owned by you.\r\n\r\n<u>THIRD PARTY COMPANIES WITH BANNERS ON MY WEBSITE:</u>\r\n\r\nThere are a small number of companies with banners on my website. In the interests of full disclosure I have a reciprocal business arrangement with these companies to promote their products. Unlike many of my competitors, I use the products and services provided by these companies. I will NOT allow any third party on my website unless I am 100% happy that they can back up their promise. By virtue of the fact, I work with these companies almost daily. I am more than confident to have them advertise on my website. Any reader who buys products or services from any advertiser via a banner on my website, <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a> will automatically have my help and assistance with any issues that they may have with my partnered advertisers.\r\n\r\n<u>TRADING &amp; PERFORMANCES DISCLAIMER:</u>\r\n\r\nFLASH, RADAR and FUNDAMENTAL trade set-ups, “Tweets” and “Trade ideas” that are posted in my blogs or on Twitter are trades and set-ups that interest me. They are provided for training and informational purposes only and should not be interpreted as an offer, solicitation or recommendation of any specific security or investment strategy. Past performance is not indicative of future results. Trading Forex carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to trade any such leveraged products you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with trading on margin, and seek advice from an independent financial adviser if you have any doubts.','GREECE - THE OPTIONS... IS IT A or B?','','inherit','open','closed','','6022-revision-v1','','','2015-05-23 14:24:09','2015-05-23 19:24:09','',6022,'https://weeklyfxdrivethru.com/6022-revision-v1/',0,'revision','',0),(6029,1,'2015-05-23 15:04:36','2015-05-23 20:04:36','<h3 style=\"text-align: center;\"><strong>THE PREMIUM SERVICE\r\n</strong><strong>The Home of Single-Lot Trading\r\nwww.weeklyfxdrivethru.com</strong></h3>\r\n<strong>DATE: 24.05.2015\r\nREFERENCE: #154\r\n</strong><strong>BLOG: THE WEEKLY FX DRIVE THRU</strong>\r\n\r\n&nbsp;\r\n<ol>\r\n	<li><strong> INTRODUCTION - MY OVERVIEW OF THE FOREX MARKET:</strong></li>\r\n</ol>\r\n<u>LOOKING BACKWARDS, FORWARDS &amp; SIDEWAYS (FOR GOOD MEASURE) AT THE FX MARKET:</u>\r\n\r\n<u>1.1 - LOOKING BACKWARDS:</u>\r\n\r\nIt was a strange trading week. It wasn’t the first strange one this year and without question, I think that I am safe to say that it will not be the last one either. I had to travel a little during the week so from my own trading perspective it was a little dis-jointed, but I also know that many subscribers found the week weird to trade for a number of factors and that they were tied to their computers all week.\r\n\r\nFOMC MEETING MINUTES:\r\n\r\nThese always achieve premier billing when the week’s news is reviewed. The hype over when the FED will raise interest rates in the U.S. quite frankly now borders on the ridiculous. When will it happen…. as Frasier Crane once stated “Time is irrelevant here in the 7<sup>th</sup> circle of hell……this is the place where even despair dies”. This is how I feel on the subject. Will someone please stick a “red hot poker” up the collective ass of the FED and just do it. Feck the bloody data, it is always going to be mixed at best this year…do it …be done and lets move on.\r\n\r\nIf I hear Steve Liesman on CNBC anymore, whining about FED language and the data, I think I will be on Knob Creek and Diets for breakfast to accompany my famous, and, without doubt, best in the world Montreal bagel from Fairmont Bagel. I know that I am originally from Liverpool and have a low patience tolerance but give me a fecking break.\r\n\r\nMoving on from the pleasantries, the minutes were neither one thing nor the other. Even the friggin FOMC committee is bored with when they should raise rates and what language should be released in the minutes. It looks like a hike in June is not going to happen but hey, never say never. September looks favourite now, but about a week ago it was never going to happen in 2015 the consumer data was sooooooo bad.\r\n\r\nIt’s all about Wall Street. The fund managers who suckle on the teat of the FED and cannot manage without their hands being held are now so spoilt, they expect the FED to say that it will happen precisely on this day at this time. Bernanke did a great job in my opinion but my God, he has spoilt Wall Street.\r\n\r\nI question who runs the U.S. Its not the dysfunctional idiots in Washington who were elected by the people. All they do is inter-party squabble and place party and personal politics ahead of the countries national interest. Is it the FED that runs the U.S.? At times they appear to be one with Wall Street and not Main Street. Who looks after the people that need help in the U.S.? That is another blog to write…\r\n\r\nEUROZONE PMi DATA and GERMAN ZEW AND IFO DATA:\r\n\r\nRather mixed in my opinion. Taking a view from a macro level. The EUROZONE data looks to be mainly improving, however, German data is not consistent. It is good to see French and Spanish data generally improving, but Italy must now be a concern. After GREECE defaults, the markets will be pressurizing the Italians next, and if, as I expect the Greeks are back with the Drachma, the Italians will want the Lira. The CONTAGION begins.\r\n\r\nU.S. and CANADIAN CPi DATA:\r\n\r\nCanadian Data was weaker than expected but the U.S. data on Consumer Prices was strong, sending the DXY higher (see below).\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/CPi-DATA-24052015.png\"><img class=\"aligncenter size-full wp-image-5990\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/CPi-DATA-24052015.png\" alt=\"CPi DATA 24052015\" width=\"816\" height=\"160\" /></a>\r\n\r\n&nbsp;\r\n\r\nQuite frankly, the DXY looks to be in a bullish A+D = C=D style pattern, which, if (and it is a big if)…it plays out could place the DXY at 115.00. Where would that place the EUR/USD? Sub parity for sure.\r\n\r\nLast Friday, on the back of consumer prices the USD went crazy taking the EUR/USD from 1.1160 to 1.0970 at one point before pulling back a little.\r\n\r\nInside Section 4 there is a chart of the USD Index (DXY) that I have included showing the potential of the DXY potential measured move and what this potentially means for us as Forex Traders from just one currency pair. I hope that I can expand on this matter next week.\r\n\r\nSince the CPi data release, I have not viewed CNBC or BLOOMBERG as I do not think that I could take the commentary. It is amazing what a little bit of inflation data can do.\r\n\r\n<u>1.2 - LOOKING FORWARDS:</u>\r\n\r\n<u>MAJOR FOREX NEWS THIS WEEK THAT INTERESTS ME:</u>\r\n\r\n<u>(There are many more news items related to the Forex Market than the ones listed below. These are the ones that interest me. You can go to </u><a href=\"http://www.forexfactory.com\">www.forexfactory.com</a><u> and </u><a href=\"http://www.tradingeconomics.com\">www.tradingeconomics.com</a><u> for more comprehensive lists of all news events that are Forex related).</u>\r\nSUNDAY: N/A.\r\n\r\nMONDAY: NZD – Trade Balance.\r\n\r\nTUESDAY: USD - CB Consumer Confidence.\r\n\r\nWEDNESDAY: BOC – Rate Statement.\r\nWEDNESDAY: AUD – PCE Data.\r\n\r\nTHURSDAY: NZD – ANZ Business Confidence.\r\n\r\nFRIDAY: GBP – GDP.\r\nFRIDAY: USD – GDP.\r\nFRIDAY: CAD – GDP.\r\n\r\n<u>1.3 - LOOKING SIDEWAYS (FOR GOOD MEASURE!!): </u>\r\n\r\nWhilst this blog goes as a FREE NEWSLETTER to subscribers via THE WEEKLY FX DRIVE THRU web site, it is essentially a review for my PREMIUM SERVICE GOLD SUBSCRIBERS. Part of the blog is only for GOLD SUBSCRIBERS for obvious reasons and basically those who subscribe through my website or access it via social media get a feel for what is provided through the other “open” sections. This section refers to correspondence with subscribers over the past 7 days.\r\n\r\nThe main theme or questions, views and comments this week were: -\r\n\r\nTRADING CONDITIONS and PROFITABILITY:\r\n\r\nIt is hard at the moment and I am saying this after a really good week of PREMIUM SERVICE trading. As I have told several of you, my own trading account varies in profitability from the PREMIUM SERVICE account. I operate the PREMIUM SERVICE account with single lot trades. These are placed across 4 different broker accounts.\r\n<ul>\r\n	<li>1 - COMMODITY X RATE PAIRS &amp; FUNDAMENTAL TRADES.</li>\r\n	<li>2 – RADAR TRADES (USD MAJORS).</li>\r\n	<li>3 – FLASH TRADES (USD MAJORS).</li>\r\n	<li>4 – NON USD MAJOR TRADES.</li>\r\n</ul>\r\nThese accounts make money.\r\n\r\nWith my own trading accounts, I trade different lot sized trades and my loss trades always seem to be those with a bigger position being traded. So pip wise the loss can be similar to the PREMIUM SERVICE but financially losses are multiplied. If you recall, I worked off my FXCM loss after the CHF peg removal and then some squeezes set me back.\r\n\r\nI think that one of my subscribers described the market a month or so ago as “one step forwards and two steps backwards”. This is true as far as my personal trading is concerned. I am managing risk but my larger sized trades are unfortunately just not working out. I have had smallish pip losses, but larger $$$ losses than the single lot trades that are undertaken through the PREMIUM SERVICE. I hope that this makes sense to calculate. Common sense says why not trade all trades the same size, I wont trade GBP/NZD or any X rate pair the same size as a EUR/USD or EUR/GBP trade, so there has to be a difference. This is how and why overall performances can differ from those in the PREMIUM SERVICE\r\n\r\nI sidetracked a little here but the bottom line is we are in a range bound market and there is still a lot of geopolitical news in the air. Whilst we may agree that the equity markets are at extremes, the markets are stretched and twitchy at these levels. The biggest buyers of shares are companies themselves re-purchasing stock and I would say that the markets are just waiting for a reason to pullback. This causes lack of correlation, which fuels uncertainty and this manifests itself through some strange moves neither FUNDAMENTALLY or DATA driven\r\n\r\nLike many of you guys, I suffer as well. All I can say is slow and steady wins the race. The PREMIUM SERVICE single-lot trades offer all round consistency of a performance return.\r\n\r\nTRENDING MARKET CONDITIONS:\r\n\r\nI cannot see this happening until GREECE is out of the way. Only then do I think that the Central bank divergences will take a prime role. We have to be patient. It may never happen, but in section 4 (for subscribers only) I have aired my views on trades which, show some great $$$ opportunities should it happen. Some of the charts in section 4 this week in my opinion show the best $$$ opportunities we have had this year so far. They are all technical set ups that match and meet 100% with my FUNDAMENTAL views.\r\n\r\nI could be bold and say this is the TRENDING MARKET but even though I am very positive, these trades will not move in straight lines as you know and they could take several moves along the way that may cut against the overall trending move.\r\n<ol start=\"2\">\r\n	<li><strong><u> WHAT’S ON MY MIND: -\r\nTHE FUNDAMENTAL TRADERS OVERVIEW:</u></strong></li>\r\n</ol>\r\n<h3 style=\"text-align: center;\"><strong>GREECE - THE OPTIONS... IS IT A or B?</strong></h3>\r\nA short view this week, I keep being asked why am I so Anti-European?\r\n\r\nThe simple plain matter of fact is that I am not Anti-European, just anti the EUROZONE single currency and what it stands for and how it was introduced into so many countries without the people being able to vote. So much for European democracy!!\r\n\r\nI could write for pages on this subject, so in advance, please forgive me for keeping this brief and at a high level.\r\n\r\nBasically as I see it, GREECE has two options and for simplicity and consistency I am going to call them Option A and not surprisingly Option B.\r\n\r\n<span style=\"text-decoration: underline;\">OPTION A:</span>\r\n\r\n<span style=\"text-decoration: underline;\">GREECE DEFAULTS ON IT’S NEXT SET OF PAYMENTS TO ITS CREDITORS.</span>\r\n\r\nFor me, this is the most likely scenario.\r\n\r\nWhat happens?\r\n\r\nInitially, I expect CAPITAL CONTROLS. The Central Bank will issue firm rules on moving money in and out of the country and there will probably be cash limits on withdrawals from banks over the counter. I would expect cash machines to be taken off line.\r\n\r\nNext, I expect that the GREEK GOVERNMENT will formally announce that they are withdrawing from the single-currency and that the Drachma will be re-introduced. It will probably be phased in as a parallel currency along the lines that the EUR was introduced back in the day to replace the Drachma. There is scaremongering going on stating that paying for items in EUR instead Drachma will be cheaper. There should be an official exchange rate between the two currencies to avoid that.\r\n\r\nThe markets…. equities I expect to close down for 48 hours or so. Bonds will be mental and the Forex Market will be on acid.\r\n\r\nI expect the EUR/USD to fall initially quite hard and fast, however here are commentators that have told me directly that they expect the EUR to strengthen on the news of a GREECE exit. This is based upon the fact that the weak link is removed.\r\n\r\nMy view is somewhat different. I expect right wing groups in SPAIN, ITALY and PORTUGAL to grow in popularity and threaten political stability. This would be on the basis of, if GREECE can exit and have the Drachma back, we will have our Pesetas, Liras and Escudos back. Losing ones sovereign currency is a big thing. Unless you are European and lost your sovereignty you don’t get it.\r\n\r\nI predict a CONTAGION effect.\r\n\r\nThis will keep the single currency pressured to the downside.\r\n\r\n<span style=\"text-decoration: underline;\">OPTION B:</span>\r\n\r\n<span style=\"text-decoration: underline;\">THE TRIOKA AGREE TERMS WITH GREECE TO EXTEND CREDIT FACILITIES – AGREE BAILOUT III</span>\r\n\r\nThis is what I will call the kicking of the can down the road solution. There is no better place on this glorious planet than the EUROZONE for can kicking.\r\n\r\nBasically, GREECE gets terms that they feel that they can meet. We all know that severe cost cutting and selling prized assets is what the Tsipras led Government needs to do to achieve this result. That will not happen. It is NOT the GREEK psyche. Culturally NEVER going to happen. They may say that they will BUT they wont do it.\r\n\r\nThe only settlement is a haircut being agreed with creditors. Up to now creditors have stood firm - all or nothing. This is dead simple. Something is better than nothing. This is the only B option that will work in my opinion.\r\n\r\nWhat happens?\r\n\r\nThe introduction of CAPITAL CONTROLS and the Drachma is avoided.\r\n\r\nThe equities and Forex markets will sell off and then bounce on the news. Then give it time…\r\n\r\nThe CONTAGION effect comes into play.\r\n\r\nAll governments that have had bailouts since the 2008-9 crash will want to be treated as the GREECE government has been treated. Essentially, why should bad behavior be rewarded? The Likes of PORTUGAL, IRELAND, CYPRUS etc will ask for their conditions to be reviewed and revised….they too will be looking for cheques in the post from Frankfurt.\r\n\r\nOn the news of refunds being demanded from various governments around the EUROZONE, the EUR/USD will fall under uncertainty. There will be calls of “refund or we leave”. The extreme parties will say one rule for one but not one rule for all, this is anti the agreement we co-signed at the outset.\r\n\r\nThis will keep the EUR/USD pressured to the downside.\r\n\r\nYou can agree with me 100%, 50% or whatever. You can disagree entirely with my thoughts. I will always have an opinion.\r\n\r\nThe simple fact is that something is going to happen and the name of the Jack Nicholson movie “Something’s Gotta Give” comes to mind.\r\n\r\n<strong> </strong>\r\n<ol start=\"3\">\r\n	<li><strong><u> THE PREMIUM SERVICE:</u></strong></li>\r\n</ol>\r\n<strong><u>SUMMARY OF PERFORMANCE:</u></strong>\r\n\r\n<u>3.1 – OVERVIEW and SUBSCRIPTION OPTIONS, FEATURES and PRICING:</u>\r\n\r\nFor new readers who may not be aware, I refer to the PREMIUM SERVICE quite a lot in this blog and for more details about what it is, and, how much it costs, you will need to go the welcome page of <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a>\r\n\r\nAt the top of my welcome page there are three drop down menus: -\r\nPREMIUM SERVICE PROMOTIONS (if available)\r\nSIGN-UP\r\nDISCLAIMER\r\n\r\nFurther details and how to join are all contained there. You will need a PayPal account to subscribe.\r\n\r\nBelow I provide an overview of the GOLD and SILVER subscription options and pricing.\r\n\r\n<u>GOLD MEMBER SUBSCRIPTION FEATURES &amp; PRICING OPTIONS:\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\">weeklyfxdrivethru.com</a></li>\r\n	<li>A dedicated exclusive twitter feed for GOLD MEMBER subscribers only @ThePremService.</li>\r\n	<li>All trade set-ups communicated via Twitter and RADAR and FUNDAMENTAL trades additionally via email when possible.</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\">weeklyfxdrivethru.com</a></li>\r\n	<li>My thoughts and comments on market conditions via twitter and/or email.</li>\r\n</ul>\r\nGOLD MEMBER SUBSCRIPTION OPTION PRICING:\r\n(Please note that PayPal works in months NOT weeks)\r\n10 weeks / 3 months:               USD $295.00\r\n20 weeks / 6 months:               USD $495.00\r\n40 weeks / 12 months:             USD $795.00\r\n\r\n<u>SILVER MEMBER SUBSCRIPTION FEATURES &amp; PRICING OPTIONS:\r\n</u>\r\n<ul>\r\n	<li>Simple 4 weekly (monthly) membership pricing.</li>\r\n	<li>A dedicated exclusive twitter feed for SILVER MEMBER subscribers only @PremServSilver.</li>\r\n	<li>All my trade set-ups delivered to you via the SILVER MEMBER subscriber twitter feed @PremServSilver.</li>\r\n	<li>Access to the PREMIUM SERVICE website (relevant trade information only).</li>\r\n	<li>The “FREE NEWSLETTER” version of THE WEEKLY FX DRIVE THRU delivered weekly direct to you email inbox and viewable online at <a href=\"http://www.weeklyfxdrivethru.com\">weeklyfxdrivethru.com</a></li>\r\n</ul>\r\nSILVER MEMBER SUBSCRIPTION OPTION PRICING:\r\n(Please note that PayPal works in months NOT weeks)\r\n\r\n4 weeks / 1 month:                    USD $100.00\r\n\r\n<u>3.2 - SUMMARY OF PERFORMANCE:</u>\r\n\r\n<u>3.2.1 – PREMIUM SERVICE – COST INCOME ANALYSIS (USD):</u>\r\n\r\n&nbsp;\r\n<p style=\"text-align: center;\">EMANATING FROM TRADE SET-UPS - 2015 to date:</p>\r\n<p style=\"text-align: center;\"><u>MICRO LOT TRADER</u> - 365 trades cost to trade = $36.50\r\n<strong>PROFIT</strong> from 365 trades = <strong><u>$519.30</u></strong></p>\r\n<p style=\"text-align: center;\"><u>MINI LOT TRADER</u> - 365 trades cost to trade = $365.00\r\n<strong>PROFIT</strong> from 365 trades = <strong><u>$5,193.00</u></strong></p>\r\n<p style=\"text-align: center;\"><u>STANDARD LOT TRADER</u> - 365 trades cost to trade = $3,650.00\r\n<strong>PROFIT</strong> from 365 trades = <strong><u>$51,930.00</u></strong></p>\r\n<p style=\"text-align: center;\">If the above return from Forex Trading interests you go to</p>\r\n<p style=\"text-align: center;\"><a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a> and check out the subscription options under the tab “PREMIUM SERVICE”.</p>\r\n<p style=\"text-align: center;\">The performance above is based off single-lot trade sizes.</p>\r\n<p style=\"text-align: center;\">THE PREMIUM SERVICE has subscribers with broker accounts of sizes ranging from $2,500 to over $100,000.</p>\r\n<p style=\"text-align: center;\">A profitable trade is a profitable trade. It is all about trading according to the size of your broker account (EFFECTIVE POSITION SIZING) and applying RISK MANAGEMENT principles at all times.</p>\r\n&nbsp;\r\n\r\n<u>3.2.2 - PREMIUM SERVICE - OVERALL TRADE SUMMARY MONTH &amp; YTD:</u>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/PREM-SERV-PROFITS1-24052015.png\"><img class=\"aligncenter size-full wp-image-5991\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/PREM-SERV-PROFITS1-24052015.png\" alt=\"PREM SERV PROFITS1 24052015\" width=\"459\" height=\"427\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/PREM-SERV-PROFITS2-24052015.png\"><img class=\"aligncenter size-full wp-image-5992\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/PREM-SERV-PROFITS2-24052015.png\" alt=\"PREM SERV PROFITS2 24052015\" width=\"460\" height=\"421\" /></a>\r\n\r\n&nbsp;\r\n<ol start=\"4\">\r\n	<li><strong><u> PREMIUM SERVICE SUBSCRIBER EXCLUSIVE CONTENT:</u></strong></li>\r\n</ol>\r\n(Section 4 is exclusive PREMIUM SERVICE content only available to PREMIUM SERVICE subscribers)\r\n\r\n<u>4.1 - EDUCATION:\r\n</u>(The full list of all items and more from this section can be found in the PREMIUM SERVICE website in the Trade Essential area under the EDUCATION tab.\r\n\r\n<u>4.2 – THE PREMIUM SERVICE – TRADING REVIEW:</u>\r\n\r\n<u>4.3 - THE PREMIUM SERVICE - EXISTING LIVE TRADES:</u>\r\n\r\n<u>4.4 - THE PREMIUM SERVICE – EXISTING LIMIT ORDERS:</u>\r\n\r\n<u>4.5 - POTENTIAL TRADES - WHAT CHARTS AM I LOOKING AT?</u>\r\n\r\n<u>4.6 - MAJOR TRADING PAIRS WITH LONGER-TERM TRENDS MATCHING:</u>\r\n\r\n<u>4.7 - THE KEY SUPPORT &amp; RESISTANCE LEVELS WITH THE USD MAJORS</u><strong><u>:</u></strong>\r\n\r\n&nbsp;\r\n<ol start=\"5\">\r\n	<li><strong><u> THE CONCLUSION - MY FINAL THOUGHTS:</u></strong></li>\r\n</ol>\r\n<u>5.1 - SUBSCRIBING TO THE “FREE VERSION” OF THE WEEKLY FX DRIVE THRU:</u>\r\n\r\nIf you like what you have almost completed reading and want to have THE WEEKLY FX DRIVE THRU delivered direct to your email inbox next week, here is what you do: -\r\n\r\nGo to my website: - <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a>\r\n\r\nOn the right hand side of the welcome page under my bio “about me” there is a blue box titled SUBSCRIBE TO FREE NEWSLETTER, click on profile and add your email address. It is as simple and straightforward as that.\r\n\r\nI do NOT sell your email data to anyone…do not worry...one less thing to worry about\r\n\r\nIf you really like my way of explaining things…subscribe to either the PREMIUM SERVICE SILVER or GOLD by visiting my website <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a>\r\n\r\n<u>5.2 –TRADING TIPS &amp; THOUGHTS FOR THE WEEK AHEAD: </u>\r\n\r\nNot much on the economic data front this week.\r\n\r\nIf I were pushed to give a surprise event other than GREECE being sorted…. sorry, just checked the Weather Channel, the BBC and CNN – Hell has not yet frozen over, it would be: to not rule out a slim chance that the BOC could cut interest rates on Wednesday by 0.25% to 0.50%. There is no press conference and no statement required this month.\r\n\r\nReturning to GREECE. To say the position is desperate is an understatement of mammoth proportions. I have not changed my position; I think a default is the only solution with GREECE returning to the Drachma.\r\n\r\nAs always, there will be trades to trade and there will be some great opportunities, please trade in line with your RISK MANAGEMENT parameters from your TRADING PLAN. If you do not have a TRADE PLAN, in my opinion, you should, as this will help you with consistency.\r\n\r\n<strong>Consistency = longevity in trading and that is a critical goal.\r\nIT IS THE KEY MEASUREMENT</strong>\r\n\r\nBefore you enter a trade work out the risk, price it in $$$. Place your stop accordingly. PREMIUM SERVICE subscribers have a full library of information on RISK MANAGEMENT, RISK TOLERANCES and POSITION SIZING etc. available for reference 24x7.\r\n\r\nTake care.\r\n\r\nScott Pickering\r\nThe Pip Accumulator\r\nSunday May 24th 2015\r\n\r\nEMAIL / FOLLOW ME AT:\r\ndrivethru@weeklyfxdrivethru.com\r\nTwitter: @pipaccumulator\r\nGoogle+/scottpickering\r\nTumblr: thepipaccumulator\r\n\r\n<u>VIEWS AND COMMENTS IN THIS BLOG:</u>\r\n\r\nAll the comments and views expressed in my blog are my thoughts and ideas only. They are based on my FUNDAMENTAL views of the markets and my thoughts on the individuals concerned on how they manage positions in the public domain. In addition, I have my own thoughts and views about what I think goes on behind closed doors. You should NOT base any trade ideas on my thoughts and views alone. As I have said on many occasions in my blog, I am a FUNDAMENTAL trader first, then a TECHNICAL trader second using chart analysis to establish what I believe to be excellent trade entry positions. However, you must make up your own mind and trade at your own risk deciding if the entry levels I refer to actually meet with your views and thoughts. This makes complete sense as the risk in trading your account is 100% owned by you\r\n\r\n<u>THIRD PARTY COMPANIES WITH BANNERS ON MY WEBSITE:</u>\r\n\r\nThere are a small number of companies with banners on my website. In the interests of full disclosure I have a reciprocal business arrangement with these companies to promote their products. Unlike many of my competitors, I use the products and services provided by these companies. I will NOT allow any third party on my website unless I am 100% happy that they can back up their promise. By virtue of the fact, I work with these companies almost daily. I am more than confident to have them advertise on my website. Any reader who buys products or services from any advertiser via a banner on my website, <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a> will automatically have my help and assistance with any issues that they may have with my partnered advertisers.\r\n\r\n<u>TRADING &amp; PERFORMANCES DISCLAIMER:</u>\r\n\r\nFLASH, RADAR and FUNDAMENTAL trade set-ups, “Tweets” and “Trade ideas” that are posted in my blogs or on Twitter are trades and set-ups that interest me. They are provided for training and informational purposes only and should not be interpreted as an offer, solicitation or recommendation of any specific security or investment strategy. Past performance is not indicative of future results. Trading Forex carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to trade any such leveraged products you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with trading on margin, and seek advice from an independent financial adviser if you have any doubts.','GREECE - THE OPTIONS... IS IT A or B?','','publish','open','closed','','greece-the-options-is-it-a-or-b','','','2015-05-24 15:44:59','2015-05-24 20:44:59','',0,'https://weeklyfxdrivethru.com/?p=6029',0,'post','',0),(6030,1,'2015-05-23 15:03:43','2015-05-23 20:03:43','<h3 style=\"text-align: center;\"><strong>THE PREMIUM SERVICE\r\n</strong><strong>The Home of Single-Lot Trading\r\nwww.weeklyfxdrivethru.com</strong></h3>\r\n<strong>DATE: 24.05.2015\r\nREFERENCE: #154\r\n</strong><strong>BLOG: THE WEEKLY FX DRIVE THRU</strong>\r\n\r\n&nbsp;\r\n<ol>\r\n	<li><strong> INTRODUCTION - MY OVERVIEW OF THE FOREX MARKET:</strong></li>\r\n</ol>\r\n<u>LOOKING BACKWARDS, FORWARDS &amp; SIDEWAYS (FOR GOOD MEASURE) AT THE FX MARKET:</u>\r\n\r\n<u>1.1 - LOOKING BACKWARDS:</u>\r\n\r\nIt was a strange trading week. It wasn’t the first strange one this year and without question, I think that I am safe to say that it will not be the last one either. I had to travel a little during the week so from my own trading perspective it was a little dis-jointed, but I also know that many subscribers found the week weird to trade for a number of factors and that they were tied to their computers all week.\r\n\r\nFOMC MEETING MINUTES:\r\n\r\nThese always achieve premier billing when the week’s news is reviewed. The hype over when the FED will raise interest rates in the U.S. quite frankly now borders on the ridiculous. When will it happen…. as Frasier Crane once stated “Time is irrelevant here in the 7<sup>th</sup> circle of hell……this is the place where even despair dies”. This is how I feel on the subject. Will someone please stick a “red hot poker” up the collective ass of the FED and just do it. Feck the bloody data, it is always going to be mixed at best this year…do it …be done and lets move on.\r\n\r\nIf I hear Steve Liesman on CNBC anymore, whining about FED language and the data, I think I will be on Knob Creek and Diets for breakfast to accompany my famous, and, without doubt, best in the world Montreal bagel from Fairmont Bagel. I know that I am originally from Liverpool and have a low patience tolerance but give me a fecking break.\r\n\r\nMoving on from the pleasantries, the minutes were neither one thing nor the other. Even the friggin FOMC committee is bored with when they should raise rates and what language should be released in the minutes. It looks like a hike in June is not going to happen but hey, never say never. September looks favourite now, but about a week ago it was never going to happen in 2015 the consumer data was sooooooo bad.\r\n\r\nIt’s all about Wall Street. The fund managers who suckle on the teat of the FED and cannot manage without their hands being held are now so spoilt, they expect the FED to say that it will happen precisely on this day at this time. Bernanke did a great job in my opinion but my God, he has spoilt Wall Street.\r\n\r\nI question who runs the U.S. Its not the dysfunctional idiots in Washington who were elected by the people. All they do is inter-party squabble and place party and personal politics ahead of the countries national interest. Is it the FED that runs the U.S.? At times they appear to be one with Wall Street and not Main Street. Who looks after the people that need help in the U.S.? That is another blog to write…\r\n\r\nEUROZONE PMi DATA and GERMAN ZEW AND IFO DATA:\r\n\r\nRather mixed in my opinion. Taking a view from a macro level. The EUROZONE data looks to be mainly improving, however, German data is not consistent. It is good to see French and Spanish data generally improving, but Italy must now be a concern. After GREECE defaults, the markets will be pressurizing the Italians next, and if, as I expect the Greeks are back with the Drachma, the Italians will want the Lira. The CONTAGION begins.\r\n\r\nU.S. and CANADIAN CPi DATA:\r\n\r\nCanadian Data was weaker than expected but the U.S. data on Consumer Prices was strong, sending the DXY higher (see below).\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/CPi-DATA-24052015.png\"><img class=\"aligncenter size-full wp-image-5990\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/CPi-DATA-24052015.png\" alt=\"CPi DATA 24052015\" width=\"816\" height=\"160\" /></a>\r\n\r\n&nbsp;\r\n\r\nQuite frankly, the DXY looks to be in a bullish A+D = C=D style pattern, which, if (and it is a big if)…it plays out could place the DXY at 115.00. Where would that place the EUR/USD? Sub parity for sure.\r\n\r\nLast Friday, on the back of consumer prices the USD went crazy taking the EUR/USD from 1.1160 to 1.0970 at one point before pulling back a little.\r\n\r\nInside Section 4 there is a chart of the USD Index (DXY) that I have included showing the potential of the DXY potential measured move and what this potentially means for us as Forex Traders from just one currency pair. I hope that I can expand on this matter next week.\r\n\r\nSince the CPi data release, I have not viewed CNBC or BLOOMBERG as I do not think that I could take the commentary. It is amazing what a little bit of inflation data can do.\r\n\r\n<u>1.2 - LOOKING FORWARDS:</u>\r\n\r\n<u>MAJOR FOREX NEWS THIS WEEK THAT INTERESTS ME:</u>\r\n\r\n<u>(There are many more news items related to the Forex Market than the ones listed below. These are the ones that interest me. You can go to </u><a href=\"http://www.forexfactory.com\">www.forexfactory.com</a><u> and </u><a href=\"http://www.tradingeconomics.com\">www.tradingeconomics.com</a><u> for more comprehensive lists of all news events that are Forex related).</u>\r\nSUNDAY: N/A.\r\n\r\nMONDAY: NZD – Trade Balance.\r\n\r\nTUESDAY: USD - CB Consumer Confidence.\r\n\r\nWEDNESDAY: BOC – Rate Statement.\r\nWEDNESDAY: AUD – PCE Data.\r\n\r\nTHURSDAY: NZD – ANZ Business Confidence.\r\n\r\nFRIDAY: GBP – GDP.\r\nFRIDAY: USD – GDP.\r\nFRIDAY: CAD – GDP.\r\n\r\n<u>1.3 - LOOKING SIDEWAYS (FOR GOOD MEASURE!!): </u>\r\n\r\nWhilst this blog goes as a FREE NEWSLETTER to subscribers via THE WEEKLY FX DRIVE THRU web site, it is essentially a review for my PREMIUM SERVICE GOLD SUBSCRIBERS. Part of the blog is only for GOLD SUBSCRIBERS for obvious reasons and basically those who subscribe through my website or access it via social media get a feel for what is provided through the other “open” sections. This section refers to correspondence with subscribers over the past 7 days.\r\n\r\nThe main theme or questions, views and comments this week were: -\r\n\r\nTRADING CONDITIONS and PROFITABILITY:\r\n\r\nIt is hard at the moment and I am saying this after a really good week of PREMIUM SERVICE trading. As I have told several of you, my own trading account varies in profitability from the PREMIUM SERVICE account. I operate the PREMIUM SERVICE account with single lot trades. These are placed across 4 different broker accounts.\r\n<ul>\r\n	<li>1 - COMMODITY X RATE PAIRS &amp; FUNDAMENTAL TRADES.</li>\r\n	<li>2 – RADAR TRADES (USD MAJORS).</li>\r\n	<li>3 – FLASH TRADES (USD MAJORS).</li>\r\n	<li>4 – NON USD MAJOR TRADES.</li>\r\n</ul>\r\nThese accounts make money.\r\n\r\nWith my own trading accounts, I trade different lot sized trades and my loss trades always seem to be those with a bigger position being traded. So pip wise the loss can be similar to the PREMIUM SERVICE but financially losses are multiplied. If you recall, I worked off my FXCM loss after the CHF peg removal and then some squeezes set me back.\r\n\r\nI think that one of my subscribers described the market a month or so ago as “one step forwards and two steps backwards”. This is true as far as my personal trading is concerned. I am managing risk but my larger sized trades are unfortunately just not working out. I have had smallish pip losses, but larger $$$ losses than the single lot trades that are undertaken through the PREMIUM SERVICE. I hope that this makes sense to calculate. Common sense says why not trade all trades the same size, I wont trade GBP/NZD or any X rate pair the same size as a EUR/USD or EUR/GBP trade, so there has to be a difference. This is how and why overall performances can differ from those in the PREMIUM SERVICE\r\n\r\nI sidetracked a little here but the bottom line is we are in a range bound market and there is still a lot of geopolitical news in the air. Whilst we may agree that the equity markets are at extremes, the markets are stretched and twitchy at these levels. The biggest buyers of shares are companies themselves re-purchasing stock and I would say that the markets are just waiting for a reason to pullback. This causes lack of correlation, which fuels uncertainty and this manifests itself through some strange moves neither FUNDAMENTALLY or DATA driven\r\n\r\nLike many of you guys, I suffer as well. All I can say is slow and steady wins the race. The PREMIUM SERVICE single-lot trades offer all round consistency of a performance return.\r\n\r\nTRENDING MARKET CONDITIONS:\r\n\r\nI cannot see this happening until GREECE is out of the way. Only then do I think that the Central bank divergences will take a prime role. We have to be patient. It may never happen, but in section 4 (for subscribers only) I have aired my views on trades which, show some great $$$ opportunities should it happen. Some of the charts in section 4 this week in my opinion show the best $$$ opportunities we have had this year so far. They are all technical set ups that match and meet 100% with my FUNDAMENTAL views.\r\n\r\nI could be bold and say this is the TRENDING MARKET but even though I am very positive, these trades will not move in straight lines as you know and they could take several moves along the way that may cut against the overall trending move.\r\n<ol start=\"2\">\r\n	<li><strong><u> WHAT’S ON MY MIND: -\r\nTHE FUNDAMENTAL TRADERS OVERVIEW:</u></strong></li>\r\n</ol>\r\n<h3 style=\"text-align: center;\"><strong>GREECE - THE OPTIONS... IS IT A or B?</strong></h3>\r\nA short view this week, I keep being asked why am I so Anti-European?\r\n\r\nThe simple plain matter of fact is that I am not Anti-European, just anti the EUROZONE single currency and what it stands for and how it was introduced into so many countries without the people being able to vote. So much for European democracy!!\r\n\r\nI could write for pages on this subject, so in advance, please forgive me for keeping this brief and at a high level.\r\n\r\nBasically as I see it, GREECE has two options and for simplicity and consistency I am going to call them Option A and not surprisingly Option B.\r\n\r\n<span style=\"text-decoration: underline;\">OPTION A:</span>\r\n\r\n<span style=\"text-decoration: underline;\">GREECE DEFAULTS ON IT’S NEXT SET OF PAYMENTS TO ITS CREDITORS.</span>\r\n\r\nFor me, this is the most likely scenario.\r\n\r\nWhat happens?\r\n\r\nInitially, I expect CAPITAL CONTROLS. The Central Bank will issue firm rules on moving money in and out of the country and there will probably be cash limits on withdrawals from banks over the counter. I would expect cash machines to be taken off line.\r\n\r\nNext, I expect that the GREEK GOVERNMEMNT will formally announce that they are withdrawing from the single-currency and that the Drachma will be re-introduced. It will probably be phased in as a parallel currency along the lines that the EUR was introduced back in the day to replace the Drachma. There is scaremongering going on stating that paying for items in EUR instead Drachma will be cheaper. There should be an official exchange rate between the two currencies to avoid that.\r\n\r\nThe markets…. equities I expect to close down for 48 hours or so. Bonds will be mental and the Forex Market will be on acid.\r\n\r\nI expect the EUR/USD to fall initially quite hard and fast, however here are commentators that have told me directly that they expect the EUR to strengthen on the news of a GREECE exit. This is based upon the fact that the weak link is removed.\r\n\r\nMy view is somewhat different. I expect right wing groups in SPAIN, ITALY and PORTUGAL to grow in popularity and threaten political stability. This would be on the basis of, if GREECE can exit and have the Drachma back, we will have our Pesetas, Liras and Escudos back. Losing ones sovereign currency is a big thing. Unless you are European and lost your sovereignty you don’t get it.\r\n\r\nI predict a CONTAGION effect.\r\n\r\nThis will keep the single currency pressured to the downside.\r\n\r\n<span style=\"text-decoration: underline;\">OPTION B:</span>\r\n\r\n<span style=\"text-decoration: underline;\">THE TRIOKA AGREE TERMS WITH GREECE TO EXTEND CREDIT FACILITIES – AGREE BAILOUT III</span>\r\n\r\nThis is what I will call the kicking of the can down the road solution. There is no better place on this glorious planet than the EUROZONE for can kicking.\r\n\r\nBasically, GREECE gets terms that they feel that they can meet. We all know that severe cost cutting and selling prized assets is what the Tsipras led Government needs to do to achieve this result. That will not happen. It is NOT the GREEK psyche. Culturally NEVER going to happen. They may say that they will BUT they wont do it.\r\n\r\nThe only settlement is a haircut being agreed with creditors. Up to now creditors have stood firm - all or nothing. This is dead simple. Something is better than nothing. This is the only B option that will work in my opinion.\r\n\r\nWhat happens?\r\n\r\nThe introduction of CAPITAL CONTROLS and the Drachma is avoided.\r\n\r\nThe equities and Forex markets will sell off and then bounce on the news. Then give it time…\r\n\r\nThe CONTAGION effect comes into play.\r\n\r\nAll governments that have had bailouts since the 2008-9 crash will want to be treated as the GREECE government has been treated. Essentially, why should bad behavior be rewarded? The Likes of PORTUGAL, IRELAND, CYPRUS etc will ask for their conditions to be reviewed and revised….they too will be looking for cheques in the post from Frankfurt.\r\n\r\nOn the news of refunds being demanded from various governments around the EUROZONE, the EUR/USD will fall under uncertainty. There will be calls of “refund or we leave”. The extreme parties will say one rule for one but not one rule for all, this is anti the agreement we co-signed at the outset.\r\n\r\nThis will keep the EUR/USD pressured to the downside.\r\n\r\nYou can agree with me 100%, 50% or whatever. You can disagree entirely with my thoughts. I will always have an opinion.\r\n\r\nThe simple fact is that something is going to happen and the name of the Jack Nicholson movie “Something’s Gotta Give” comes to mind.\r\n\r\n<strong> </strong>\r\n<ol start=\"3\">\r\n	<li><strong><u> THE PREMIUM SERVICE:\r\n\r\n</u></strong></li>\r\n</ol>\r\n<strong><u>SUMMARY OF PERFORMANCE:</u></strong>\r\n\r\n<u>3.1 – OVERVIEW and SUBSCRIPTION OPTIONS, FEATURES and PRICING:</u>\r\n\r\nFor new readers who may not be aware, I refer to the PREMIUM SERVICE quite a lot in this blog and for more details about what it is, and, how much it costs, you will need to go the welcome page of <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a>\r\n\r\nAt the top of my welcome page there are three drop down menus: -\r\nPREMIUM SERVICE PROMOTIONS (if available)\r\nSIGN-UP\r\nDISCLAIMER\r\n\r\nFurther details and how to join are all contained there. You will need a PayPal account to subscribe.\r\n\r\nBelow I provide an overview of the GOLD and SILVER subscription options and pricing.\r\n\r\n<u>GOLD MEMBER SUBSCRIPTION FEATURES &amp; PRICING OPTIONS:\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\">weeklyfxdrivethru.com</a></li>\r\n	<li>A dedicated exclusive twitter feed for GOLD MEMBER subscribers only @ThePremService.</li>\r\n	<li>All trade set-ups communicated via Twitter and RADAR and FUNDAMENTAL trades additionally via email when possible.</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\">weeklyfxdrivethru.com</a></li>\r\n	<li>My thoughts and comments on market conditions via twitter and/or email.</li>\r\n</ul>\r\nGOLD MEMBER SUBSCRIPTION OPTION PRICING:\r\n(Please note that PayPal works in months NOT weeks)\r\n10 weeks / 3 months:               USD $295.00\r\n20 weeks / 6 months:               USD $495.00\r\n40 weeks / 12 months:             USD $795.00\r\n\r\n<u>SILVER MEMBER SUBSCRIPTION FEATURES &amp; PRICING OPTIONS:\r\n</u>\r\n<ul>\r\n	<li>Simple 4 weekly (monthly) membership pricing.</li>\r\n	<li>A dedicated exclusive twitter feed for SILVER MEMBER subscribers only @PremServSilver.</li>\r\n	<li>All my trade set-ups delivered to you via the SILVER MEMBER subscriber twitter feed @PremServSilver.</li>\r\n	<li>Access to the PREMIUM SERVICE website (relevant trade information only).</li>\r\n	<li>The “FREE NEWSLETTER” version of THE WEEKLY FX DRIVE THRU delivered weekly direct to you email inbox and viewable online at <a href=\"http://www.weeklyfxdrivethru.com\">weeklyfxdrivethru.com</a></li>\r\n</ul>\r\nSILVER MEMBER SUBSCRIPTION OPTION PRICING:\r\n(Please note that PayPal works in months NOT weeks)\r\n\r\n4 weeks / 1 month:                    USD $100.00\r\n\r\n<u>3.2 - SUMMARY OF PERFORMANCE:</u>\r\n\r\n<u>3.2.1 – PREMIUM SERVICE – COST INCOME ANALYSIS (USD):\r\n\r\n</u>\r\n<p style=\"text-align: center;\">EMANATING FROM TRADE SET-UPS - 2015 to date:</p>\r\n<p style=\"text-align: center;\"><u>MICRO LOT TRADER</u> - 365 trades cost to trade = $36.50\r\n<strong>PROFIT</strong> from 365 trades = <strong><u>$519.30</u></strong></p>\r\n<p style=\"text-align: center;\"><u>MINI LOT TRADER</u> - 365 trades cost to trade = $365.00\r\n<strong>PROFIT</strong> from 365 trades = <strong><u>$5,193.00</u></strong></p>\r\n<p style=\"text-align: center;\"><u>STANDARD LOT TRADER</u> - 365 trades cost to trade = $3,650.00\r\n<strong>PROFIT</strong> from 365 trades = <strong><u>$51,930.00</u></strong></p>\r\n<p style=\"text-align: center;\">If the above return from Forex Trading interests you go to</p>\r\n<p style=\"text-align: center;\"><a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a> and check out the subscription options under the tab “PREMIUM SERVICE”.</p>\r\n<p style=\"text-align: center;\">The performance above is based off single-lot trade sizes.</p>\r\n<p style=\"text-align: center;\">THE PREMIUM SERVICE has subscribers with broker accounts of sizes ranging from $2,500 to over $100,000.</p>\r\n<p style=\"text-align: center;\">A profitable trade is a profitable trade. It is all about trading according to the size of your broker account (EFFECTIVE POSITION SIZING) and applying RISK MANAGEMENT principles at all times.</p>\r\n&nbsp;\r\n\r\n<u>3.2.2 - PREMIUM SERVICE - OVERALL TRADE SUMMARY MONTH &amp; YTD:</u>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/PREM-SERV-PROFITS1-24052015.png\"><img class=\"aligncenter size-full wp-image-5991\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/PREM-SERV-PROFITS1-24052015.png\" alt=\"PREM SERV PROFITS1 24052015\" width=\"459\" height=\"427\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/PREM-SERV-PROFITS2-24052015.png\"><img class=\"aligncenter size-full wp-image-5992\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/PREM-SERV-PROFITS2-24052015.png\" alt=\"PREM SERV PROFITS2 24052015\" width=\"460\" height=\"421\" /></a>\r\n\r\n&nbsp;\r\n<ol start=\"4\">\r\n	<li><strong><u> PREMIUM SERVICE SUBSCRIBER EXCLUSIVE CONTENT:</u></strong></li>\r\n</ol>\r\n(Section 4 is exclusive PREMIUM SERVICE content only available to PREMIUM SERVICE subscribers)\r\n\r\n<u>4.1 - EDUCATION:\r\n</u>(The full list of all items and more from this section can be found in the PREMIUM SERVICE website in the Trade Essential area under the EDUCATION tab.\r\n\r\n<u>4.2 – THE PREMIUM SERVICE – TRADING REVIEW:</u>\r\n\r\n<u>4.3 - THE PREMIUM SERVICE - EXISTING LIVE TRADES:</u>\r\n\r\n<u>4.4 - THE PREMIUM SERVICE – EXISTING LIMIT ORDERS:</u>\r\n\r\n<u>4.5 - POTENTIAL TRADES - WHAT CHARTS AM I LOOKING AT?</u>\r\n\r\n<u>4.6 - MAJOR TRADING PAIRS WITH LONGER-TERM TRENDS MATCHING:</u>\r\n\r\n<u>4.7 - THE KEY SUPPORT &amp; RESISTANCE LEVELS WITH THE USD MAJORS</u><strong><u>:\r\n\r\n</u></strong>\r\n<ol start=\"5\">\r\n	<li><strong><u> THE CONCLUSION - MY FINAL THOUGHTS:</u></strong></li>\r\n</ol>\r\n<u>5.1 - SUBSCRIBING TO THE “FREE VERSION” OF THE WEEKLY FX DRIVE THRU:</u>\r\n\r\nIf you like what you have almost completed reading and want to have THE WEEKLY FX DRIVE THRU delivered direct to your email inbox next week, here is what you do: -\r\n\r\nGo to my website: - <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a>\r\n\r\nOn the right hand side of the welcome page under my bio “about me” there is a blue box titled SUBSCRIBE TO FREE NEWSLETTER, click on profile and add your email address. It is as simple and straightforward as that.\r\n\r\nI do NOT sell your email data to anyone…do not worry...one less thing to worry about\r\n\r\nIf you really like my way of explaining things…subscribe to either the PREMIUM SERVICE SILVER or GOLD by visiting my website <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a>\r\n\r\n<u>5.2 –TRADING TIPS &amp; THOUGHTS FOR THE WEEK AHEAD: </u>\r\n\r\nNot much on the economic data front this week.\r\n\r\nIf I were pushed to give a surprise event other than GREECE being sorted…. sorry, just checked the Weather Channel, the BBC and CNN – Hell has not yet frozen over, it would be: to not rule out a slim chance that the BOC could cut interest rates on Wednesday by 0.25% to 0.50%. There is no press conference and no statement required this month.\r\n\r\nReturning to GREECE. To say the position is desperate is an understatement of mammoth proportions. I have not changed my position; I think a default is the only solution with GREECE returning to the Drachma.\r\n\r\nAs always, there will be trades to trade and there will be some great opportunities, please trade in line with your RISK MANAGEMENT parameters from your TRADING PLAN. If you do not have a TRADE PLAN, in my opinion, you should, as this will help you with consistency.\r\n\r\n<strong>Consistency = longevity in trading and that is a critical goal.\r\nIT IS THE KEY MEASUREMENT</strong>\r\n\r\nBefore you enter a trade work out the risk, price it in $$$. Place your stop accordingly. PREMIUM SERVICE subscribers have a full library of information on RISK MANAGEMENT, RISK TOLERANCES and POSITION SIZING etc. available for reference 24x7.\r\n\r\nTake care.\r\n\r\nScott Pickering\r\nThe Pip Accumulator\r\nSunday May 24th 2015\r\n\r\nEMAIL / FOLLOW ME AT:\r\ndrivethru@weeklyfxdrivethru.com\r\nTwitter: @pipaccumulator\r\nGoogle+/scottpickering\r\nTumblr: thepipaccumulator\r\n\r\n<u>VIEWS AND COMMENTS IN THIS BLOG:</u>\r\n\r\nAll the comments and views expressed in my blog are my thoughts and ideas only. They are based on my FUNDAMENTAL views of the markets and my thoughts on the individuals concerned on how they manage positions in the public domain. In addition, I have my own thoughts and views about what I think goes on behind closed doors. You should NOT base any trade ideas on my thoughts and views alone. As I have said on many occasions in my blog, I am a FUNDAMENTAL trader first, then a TECHNICAL trader second using chart analysis to establish what I believe to be excellent trade entry positions. However, you must make up your own mind and trade at your own risk deciding if the entry levels I refer to actually meet with your views and thoughts. This makes complete sense as the risk in trading your account is 100% owned by you\r\n\r\n<u>THIRD PARTY COMPANIES WITH BANNERS ON MY WEBSITE:</u>\r\n\r\nThere are a small number of companies with banners on my website. In the interests of full disclosure I have a reciprocal business arrangement with these companies to promote their products. Unlike many of my competitors, I use the products and services provided by these companies. I will NOT allow any third party on my website unless I am 100% happy that they can back up their promise. By virtue of the fact, I work with these companies almost daily. I am more than confident to have them advertise on my website. Any reader who buys products or services from any advertiser via a banner on my website, <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a> will automatically have my help and assistance with any issues that they may have with my partnered advertisers.\r\n\r\n<u>TRADING &amp; PERFORMANCES DISCLAIMER:</u>\r\n\r\nFLASH, RADAR and FUNDAMENTAL trade set-ups, “Tweets” and “Trade ideas” that are posted in my blogs or on Twitter are trades and set-ups that interest me. They are provided for training and informational purposes only and should not be interpreted as an offer, solicitation or recommendation of any specific security or investment strategy. Past performance is not indicative of future results. Trading Forex carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to trade any such leveraged products you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with trading on margin, and seek advice from an independent financial adviser if you have any doubts.','GREECE - THE OPTIONS... IS IT A or B?','','inherit','open','closed','','6029-revision-v1','','','2015-05-23 15:03:43','2015-05-23 20:03:43','',6029,'https://weeklyfxdrivethru.com/6029-revision-v1/',0,'revision','',0),(6031,1,'2015-05-23 15:04:36','2015-05-23 20:04:36','<h3 style=\"text-align: center;\"><strong>THE PREMIUM SERVICE\r\n</strong><strong>The Home of Single-Lot Trading\r\nwww.weeklyfxdrivethru.com</strong></h3>\r\n<strong>DATE: 24.05.2015\r\nREFERENCE: #154\r\n</strong><strong>BLOG: THE WEEKLY FX DRIVE THRU</strong>\r\n\r\n&nbsp;\r\n<ol>\r\n	<li><strong> INTRODUCTION - MY OVERVIEW OF THE FOREX MARKET:</strong></li>\r\n</ol>\r\n<u>LOOKING BACKWARDS, FORWARDS &amp; SIDEWAYS (FOR GOOD MEASURE) AT THE FX MARKET:</u>\r\n\r\n<u>1.1 - LOOKING BACKWARDS:</u>\r\n\r\nIt was a strange trading week. It wasn’t the first strange one this year and without question, I think that I am safe to say that it will not be the last one either. I had to travel a little during the week so from my own trading perspective it was a little dis-jointed, but I also know that many subscribers found the week weird to trade for a number of factors and that they were tied to their computers all week.\r\n\r\nFOMC MEETING MINUTES:\r\n\r\nThese always achieve premier billing when the week’s news is reviewed. The hype over when the FED will raise interest rates in the U.S. quite frankly now borders on the ridiculous. When will it happen…. as Frasier Crane once stated “Time is irrelevant here in the 7<sup>th</sup> circle of hell……this is the place where even despair dies”. This is how I feel on the subject. Will someone please stick a “red hot poker” up the collective ass of the FED and just do it. Feck the bloody data, it is always going to be mixed at best this year…do it …be done and lets move on.\r\n\r\nIf I hear Steve Liesman on CNBC anymore, whining about FED language and the data, I think I will be on Knob Creek and Diets for breakfast to accompany my famous, and, without doubt, best in the world Montreal bagel from Fairmont Bagel. I know that I am originally from Liverpool and have a low patience tolerance but give me a fecking break.\r\n\r\nMoving on from the pleasantries, the minutes were neither one thing nor the other. Even the friggin FOMC committee is bored with when they should raise rates and what language should be released in the minutes. It looks like a hike in June is not going to happen but hey, never say never. September looks favourite now, but about a week ago it was never going to happen in 2015 the consumer data was sooooooo bad.\r\n\r\nIt’s all about Wall Street. The fund managers who suckle on the teat of the FED and cannot manage without their hands being held are now so spoilt, they expect the FED to say that it will happen precisely on this day at this time. Bernanke did a great job in my opinion but my God, he has spoilt Wall Street.\r\n\r\nI question who runs the U.S. Its not the dysfunctional idiots in Washington who were elected by the people. All they do is inter-party squabble and place party and personal politics ahead of the countries national interest. Is it the FED that runs the U.S.? At times they appear to be one with Wall Street and not Main Street. Who looks after the people that need help in the U.S.? That is another blog to write…\r\n\r\nEUROZONE PMi DATA and GERMAN ZEW AND IFO DATA:\r\n\r\nRather mixed in my opinion. Taking a view from a macro level. The EUROZONE data looks to be mainly improving, however, German data is not consistent. It is good to see French and Spanish data generally improving, but Italy must now be a concern. After GREECE defaults, the markets will be pressurizing the Italians next, and if, as I expect the Greeks are back with the Drachma, the Italians will want the Lira. The CONTAGION begins.\r\n\r\nU.S. and CANADIAN CPi DATA:\r\n\r\nCanadian Data was weaker than expected but the U.S. data on Consumer Prices was strong, sending the DXY higher (see below).\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/CPi-DATA-24052015.png\"><img class=\"aligncenter size-full wp-image-5990\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/CPi-DATA-24052015.png\" alt=\"CPi DATA 24052015\" width=\"816\" height=\"160\" /></a>\r\n\r\n&nbsp;\r\n\r\nQuite frankly, the DXY looks to be in a bullish A+D = C=D style pattern, which, if (and it is a big if)…it plays out could place the DXY at 115.00. Where would that place the EUR/USD? Sub parity for sure.\r\n\r\nLast Friday, on the back of consumer prices the USD went crazy taking the EUR/USD from 1.1160 to 1.0970 at one point before pulling back a little.\r\n\r\nInside Section 4 there is a chart of the USD Index (DXY) that I have included showing the potential of the DXY potential measured move and what this potentially means for us as Forex Traders from just one currency pair. I hope that I can expand on this matter next week.\r\n\r\nSince the CPi data release, I have not viewed CNBC or BLOOMBERG as I do not think that I could take the commentary. It is amazing what a little bit of inflation data can do.\r\n\r\n<u>1.2 - LOOKING FORWARDS:</u>\r\n\r\n<u>MAJOR FOREX NEWS THIS WEEK THAT INTERESTS ME:</u>\r\n\r\n<u>(There are many more news items related to the Forex Market than the ones listed below. These are the ones that interest me. You can go to </u><a href=\"http://www.forexfactory.com\">www.forexfactory.com</a><u> and </u><a href=\"http://www.tradingeconomics.com\">www.tradingeconomics.com</a><u> for more comprehensive lists of all news events that are Forex related).</u>\r\nSUNDAY: N/A.\r\n\r\nMONDAY: NZD – Trade Balance.\r\n\r\nTUESDAY: USD - CB Consumer Confidence.\r\n\r\nWEDNESDAY: BOC – Rate Statement.\r\nWEDNESDAY: AUD – PCE Data.\r\n\r\nTHURSDAY: NZD – ANZ Business Confidence.\r\n\r\nFRIDAY: GBP – GDP.\r\nFRIDAY: USD – GDP.\r\nFRIDAY: CAD – GDP.\r\n\r\n<u>1.3 - LOOKING SIDEWAYS (FOR GOOD MEASURE!!): </u>\r\n\r\nWhilst this blog goes as a FREE NEWSLETTER to subscribers via THE WEEKLY FX DRIVE THRU web site, it is essentially a review for my PREMIUM SERVICE GOLD SUBSCRIBERS. Part of the blog is only for GOLD SUBSCRIBERS for obvious reasons and basically those who subscribe through my website or access it via social media get a feel for what is provided through the other “open” sections. This section refers to correspondence with subscribers over the past 7 days.\r\n\r\nThe main theme or questions, views and comments this week were: -\r\n\r\nTRADING CONDITIONS and PROFITABILITY:\r\n\r\nIt is hard at the moment and I am saying this after a really good week of PREMIUM SERVICE trading. As I have told several of you, my own trading account varies in profitability from the PREMIUM SERVICE account. I operate the PREMIUM SERVICE account with single lot trades. These are placed across 4 different broker accounts.\r\n<ul>\r\n	<li>1 - COMMODITY X RATE PAIRS &amp; FUNDAMENTAL TRADES.</li>\r\n	<li>2 – RADAR TRADES (USD MAJORS).</li>\r\n	<li>3 – FLASH TRADES (USD MAJORS).</li>\r\n	<li>4 – NON USD MAJOR TRADES.</li>\r\n</ul>\r\nThese accounts make money.\r\n\r\nWith my own trading accounts, I trade different lot sized trades and my loss trades always seem to be those with a bigger position being traded. So pip wise the loss can be similar to the PREMIUM SERVICE but financially losses are multiplied. If you recall, I worked off my FXCM loss after the CHF peg removal and then some squeezes set me back.\r\n\r\nI think that one of my subscribers described the market a month or so ago as “one step forwards and two steps backwards”. This is true as far as my personal trading is concerned. I am managing risk but my larger sized trades are unfortunately just not working out. I have had smallish pip losses, but larger $$$ losses than the single lot trades that are undertaken through the PREMIUM SERVICE. I hope that this makes sense to calculate. Common sense says why not trade all trades the same size, I wont trade GBP/NZD or any X rate pair the same size as a EUR/USD or EUR/GBP trade, so there has to be a difference. This is how and why overall performances can differ from those in the PREMIUM SERVICE\r\n\r\nI sidetracked a little here but the bottom line is we are in a range bound market and there is still a lot of geopolitical news in the air. Whilst we may agree that the equity markets are at extremes, the markets are stretched and twitchy at these levels. The biggest buyers of shares are companies themselves re-purchasing stock and I would say that the markets are just waiting for a reason to pullback. This causes lack of correlation, which fuels uncertainty and this manifests itself through some strange moves neither FUNDAMENTALLY or DATA driven\r\n\r\nLike many of you guys, I suffer as well. All I can say is slow and steady wins the race. The PREMIUM SERVICE single-lot trades offer all round consistency of a performance return.\r\n\r\nTRENDING MARKET CONDITIONS:\r\n\r\nI cannot see this happening until GREECE is out of the way. Only then do I think that the Central bank divergences will take a prime role. We have to be patient. It may never happen, but in section 4 (for subscribers only) I have aired my views on trades which, show some great $$$ opportunities should it happen. Some of the charts in section 4 this week in my opinion show the best $$$ opportunities we have had this year so far. They are all technical set ups that match and meet 100% with my FUNDAMENTAL views.\r\n\r\nI could be bold and say this is the TRENDING MARKET but even though I am very positive, these trades will not move in straight lines as you know and they could take several moves along the way that may cut against the overall trending move.\r\n<ol start=\"2\">\r\n	<li><strong><u> WHAT’S ON MY MIND: -\r\nTHE FUNDAMENTAL TRADERS OVERVIEW:</u></strong></li>\r\n</ol>\r\n<h3 style=\"text-align: center;\"><strong>GREECE - THE OPTIONS... IS IT A or B?</strong></h3>\r\nA short view this week, I keep being asked why am I so Anti-European?\r\n\r\nThe simple plain matter of fact is that I am not Anti-European, just anti the EUROZONE single currency and what it stands for and how it was introduced into so many countries without the people being able to vote. So much for European democracy!!\r\n\r\nI could write for pages on this subject, so in advance, please forgive me for keeping this brief and at a high level.\r\n\r\nBasically as I see it, GREECE has two options and for simplicity and consistency I am going to call them Option A and not surprisingly Option B.\r\n\r\n<span style=\"text-decoration: underline;\">OPTION A:</span>\r\n\r\n<span style=\"text-decoration: underline;\">GREECE DEFAULTS ON IT’S NEXT SET OF PAYMENTS TO ITS CREDITORS.</span>\r\n\r\nFor me, this is the most likely scenario.\r\n\r\nWhat happens?\r\n\r\nInitially, I expect CAPITAL CONTROLS. The Central Bank will issue firm rules on moving money in and out of the country and there will probably be cash limits on withdrawals from banks over the counter. I would expect cash machines to be taken off line.\r\n\r\nNext, I expect that the GREEK GOVERNMENT will formally announce that they are withdrawing from the single-currency and that the Drachma will be re-introduced. It will probably be phased in as a parallel currency along the lines that the EUR was introduced back in the day to replace the Drachma. There is scaremongering going on stating that paying for items in EUR instead Drachma will be cheaper. There should be an official exchange rate between the two currencies to avoid that.\r\n\r\nThe markets…. equities I expect to close down for 48 hours or so. Bonds will be mental and the Forex Market will be on acid.\r\n\r\nI expect the EUR/USD to fall initially quite hard and fast, however here are commentators that have told me directly that they expect the EUR to strengthen on the news of a GREECE exit. This is based upon the fact that the weak link is removed.\r\n\r\nMy view is somewhat different. I expect right wing groups in SPAIN, ITALY and PORTUGAL to grow in popularity and threaten political stability. This would be on the basis of, if GREECE can exit and have the Drachma back, we will have our Pesetas, Liras and Escudos back. Losing ones sovereign currency is a big thing. Unless you are European and lost your sovereignty you don’t get it.\r\n\r\nI predict a CONTAGION effect.\r\n\r\nThis will keep the single currency pressured to the downside.\r\n\r\n<span style=\"text-decoration: underline;\">OPTION B:</span>\r\n\r\n<span style=\"text-decoration: underline;\">THE TRIOKA AGREE TERMS WITH GREECE TO EXTEND CREDIT FACILITIES – AGREE BAILOUT III</span>\r\n\r\nThis is what I will call the kicking of the can down the road solution. There is no better place on this glorious planet than the EUROZONE for can kicking.\r\n\r\nBasically, GREECE gets terms that they feel that they can meet. We all know that severe cost cutting and selling prized assets is what the Tsipras led Government needs to do to achieve this result. That will not happen. It is NOT the GREEK psyche. Culturally NEVER going to happen. They may say that they will BUT they wont do it.\r\n\r\nThe only settlement is a haircut being agreed with creditors. Up to now creditors have stood firm - all or nothing. This is dead simple. Something is better than nothing. This is the only B option that will work in my opinion.\r\n\r\nWhat happens?\r\n\r\nThe introduction of CAPITAL CONTROLS and the Drachma is avoided.\r\n\r\nThe equities and Forex markets will sell off and then bounce on the news. Then give it time…\r\n\r\nThe CONTAGION effect comes into play.\r\n\r\nAll governments that have had bailouts since the 2008-9 crash will want to be treated as the GREECE government has been treated. Essentially, why should bad behavior be rewarded? The Likes of PORTUGAL, IRELAND, CYPRUS etc will ask for their conditions to be reviewed and revised….they too will be looking for cheques in the post from Frankfurt.\r\n\r\nOn the news of refunds being demanded from various governments around the EUROZONE, the EUR/USD will fall under uncertainty. There will be calls of “refund or we leave”. The extreme parties will say one rule for one but not one rule for all, this is anti the agreement we co-signed at the outset.\r\n\r\nThis will keep the EUR/USD pressured to the downside.\r\n\r\nYou can agree with me 100%, 50% or whatever. You can disagree entirely with my thoughts. I will always have an opinion.\r\n\r\nThe simple fact is that something is going to happen and the name of the Jack Nicholson movie “Something’s Gotta Give” comes to mind.\r\n\r\n<strong> </strong>\r\n<ol start=\"3\">\r\n	<li><strong></strong><strong><u> THE PREMIUM SERVICE:</u></strong>&nbsp;</li>\r\n</ol>\r\n<strong><u>SUMMARY OF PERFORMANCE:</u></strong>\r\n\r\n<u>3.1 – OVERVIEW and SUBSCRIPTION OPTIONS, FEATURES and PRICING:</u>\r\n\r\nFor new readers who may not be aware, I refer to the PREMIUM SERVICE quite a lot in this blog and for more details about what it is, and, how much it costs, you will need to go the welcome page of <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a>\r\n\r\nAt the top of my welcome page there are three drop down menus: -\r\nPREMIUM SERVICE PROMOTIONS (if available)\r\nSIGN-UP\r\nDISCLAIMER\r\n\r\nFurther details and how to join are all contained there. You will need a PayPal account to subscribe.\r\n\r\nBelow I provide an overview of the GOLD and SILVER subscription options and pricing.\r\n\r\n<u>GOLD MEMBER SUBSCRIPTION FEATURES &amp; PRICING OPTIONS:\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\">weeklyfxdrivethru.com</a></li>\r\n	<li>A dedicated exclusive twitter feed for GOLD MEMBER subscribers only @ThePremService.</li>\r\n	<li>All trade set-ups communicated via Twitter and RADAR and FUNDAMENTAL trades additionally via email when possible.</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\">weeklyfxdrivethru.com</a></li>\r\n	<li>My thoughts and comments on market conditions via twitter and/or email.</li>\r\n</ul>\r\nGOLD MEMBER SUBSCRIPTION OPTION PRICING:\r\n(Please note that PayPal works in months NOT weeks)\r\n10 weeks / 3 months:               USD $295.00\r\n20 weeks / 6 months:               USD $495.00\r\n40 weeks / 12 months:             USD $795.00\r\n\r\n<u>SILVER MEMBER SUBSCRIPTION FEATURES &amp; PRICING OPTIONS:\r\n</u>\r\n<ul>\r\n	<li>Simple 4 weekly (monthly) membership pricing.</li>\r\n	<li>A dedicated exclusive twitter feed for SILVER MEMBER subscribers only @PremServSilver.</li>\r\n	<li>All my trade set-ups delivered to you via the SILVER MEMBER subscriber twitter feed @PremServSilver.</li>\r\n	<li>Access to the PREMIUM SERVICE website (relevant trade information only).</li>\r\n	<li>The “FREE NEWSLETTER” version of THE WEEKLY FX DRIVE THRU delivered weekly direct to you email inbox and viewable online at <a href=\"http://www.weeklyfxdrivethru.com\">weeklyfxdrivethru.com</a></li>\r\n</ul>\r\nSILVER MEMBER SUBSCRIPTION OPTION PRICING:\r\n(Please note that PayPal works in months NOT weeks)\r\n\r\n4 weeks / 1 month:                    USD $100.00\r\n\r\n<u>3.2 - SUMMARY OF PERFORMANCE:</u>\r\n\r\n<u>3.2.1 – PREMIUM SERVICE – COST INCOME ANALYSIS (USD):</u>\r\n\r\n&nbsp;\r\n<p style=\"text-align: center;\">EMANATING FROM TRADE SET-UPS - 2015 to date:</p>\r\n<p style=\"text-align: center;\"><u>MICRO LOT TRADER</u> - 365 trades cost to trade = $36.50\r\n<strong>PROFIT</strong> from 365 trades = <strong><u>$519.30</u></strong></p>\r\n<p style=\"text-align: center;\"><u>MINI LOT TRADER</u> - 365 trades cost to trade = $365.00\r\n<strong>PROFIT</strong> from 365 trades = <strong><u>$5,193.00</u></strong></p>\r\n<p style=\"text-align: center;\"><u>STANDARD LOT TRADER</u> - 365 trades cost to trade = $3,650.00\r\n<strong>PROFIT</strong> from 365 trades = <strong><u>$51,930.00</u></strong></p>\r\n<p style=\"text-align: center;\">If the above return from Forex Trading interests you go to</p>\r\n<p style=\"text-align: center;\"><a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a> and check out the subscription options under the tab “PREMIUM SERVICE”.</p>\r\n<p style=\"text-align: center;\">The performance above is based off single-lot trade sizes.</p>\r\n<p style=\"text-align: center;\">THE PREMIUM SERVICE has subscribers with broker accounts of sizes ranging from $2,500 to over $100,000.</p>\r\n<p style=\"text-align: center;\">A profitable trade is a profitable trade. It is all about trading according to the size of your broker account (EFFECTIVE POSITION SIZING) and applying RISK MANAGEMENT principles at all times.</p>\r\n&nbsp;\r\n\r\n<u>3.2.2 - PREMIUM SERVICE - OVERALL TRADE SUMMARY MONTH &amp; YTD:</u>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/PREM-SERV-PROFITS1-24052015.png\"><img class=\"aligncenter size-full wp-image-5991\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/PREM-SERV-PROFITS1-24052015.png\" alt=\"PREM SERV PROFITS1 24052015\" width=\"459\" height=\"427\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/PREM-SERV-PROFITS2-24052015.png\"><img class=\"aligncenter size-full wp-image-5992\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/PREM-SERV-PROFITS2-24052015.png\" alt=\"PREM SERV PROFITS2 24052015\" width=\"460\" height=\"421\" /></a>\r\n\r\n&nbsp;\r\n<ol start=\"4\">\r\n	<li><strong><u> PREMIUM SERVICE SUBSCRIBER EXCLUSIVE CONTENT:</u></strong></li>\r\n</ol>\r\n(Section 4 is exclusive PREMIUM SERVICE content only available to PREMIUM SERVICE subscribers)\r\n\r\n<u>4.1 - EDUCATION:\r\n</u>(The full list of all items and more from this section can be found in the PREMIUM SERVICE website in the Trade Essential area under the EDUCATION tab.\r\n\r\n<u>4.2 – THE PREMIUM SERVICE – TRADING REVIEW:</u>\r\n\r\n<u>4.3 - THE PREMIUM SERVICE - EXISTING LIVE TRADES:</u>\r\n\r\n<u>4.4 - THE PREMIUM SERVICE – EXISTING LIMIT ORDERS:</u>\r\n\r\n<u>4.5 - POTENTIAL TRADES - WHAT CHARTS AM I LOOKING AT?</u>\r\n\r\n<u>4.6 - MAJOR TRADING PAIRS WITH LONGER-TERM TRENDS MATCHING:</u>\r\n\r\n<u>4.7 - THE KEY SUPPORT &amp; RESISTANCE LEVELS WITH THE USD MAJORS</u><strong><u>:</u></strong>\r\n\r\n&nbsp;\r\n<ol start=\"5\">\r\n	<li><strong><u> THE CONCLUSION - MY FINAL THOUGHTS:</u></strong></li>\r\n</ol>\r\n<u>5.1 - SUBSCRIBING TO THE “FREE VERSION” OF THE WEEKLY FX DRIVE THRU:</u>\r\n\r\nIf you like what you have almost completed reading and want to have THE WEEKLY FX DRIVE THRU delivered direct to your email inbox next week, here is what you do: -\r\n\r\nGo to my website: - <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a>\r\n\r\nOn the right hand side of the welcome page under my bio “about me” there is a blue box titled SUBSCRIBE TO FREE NEWSLETTER, click on profile and add your email address. It is as simple and straightforward as that.\r\n\r\nI do NOT sell your email data to anyone…do not worry...one less thing to worry about\r\n\r\nIf you really like my way of explaining things…subscribe to either the PREMIUM SERVICE SILVER or GOLD by visiting my website <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a>\r\n\r\n<u>5.2 –TRADING TIPS &amp; THOUGHTS FOR THE WEEK AHEAD: </u>\r\n\r\nNot much on the economic data front this week.\r\n\r\nIf I were pushed to give a surprise event other than GREECE being sorted…. sorry, just checked the Weather Channel, the BBC and CNN – Hell has not yet frozen over, it would be: to not rule out a slim chance that the BOC could cut interest rates on Wednesday by 0.25% to 0.50%. There is no press conference and no statement required this month.\r\n\r\nReturning to GREECE. To say the position is desperate is an understatement of mammoth proportions. I have not changed my position; I think a default is the only solution with GREECE returning to the Drachma.\r\n\r\nAs always, there will be trades to trade and there will be some great opportunities, please trade in line with your RISK MANAGEMENT parameters from your TRADING PLAN. If you do not have a TRADE PLAN, in my opinion, you should, as this will help you with consistency.\r\n\r\n<strong>Consistency = longevity in trading and that is a critical goal.\r\nIT IS THE KEY MEASUREMENT</strong>\r\n\r\nBefore you enter a trade work out the risk, price it in $$$. Place your stop accordingly. PREMIUM SERVICE subscribers have a full library of information on RISK MANAGEMENT, RISK TOLERANCES and POSITION SIZING etc. available for reference 24x7.\r\n\r\nTake care.\r\n\r\nScott Pickering\r\nThe Pip Accumulator\r\nSunday May 24th 2015\r\n\r\nEMAIL / FOLLOW ME AT:\r\ndrivethru@weeklyfxdrivethru.com\r\nTwitter: @pipaccumulator\r\nGoogle+/scottpickering\r\nTumblr: thepipaccumulator\r\n\r\n<u>VIEWS AND COMMENTS IN THIS BLOG:</u>\r\n\r\nAll the comments and views expressed in my blog are my thoughts and ideas only. They are based on my FUNDAMENTAL views of the markets and my thoughts on the individuals concerned on how they manage positions in the public domain. In addition, I have my own thoughts and views about what I think goes on behind closed doors. You should NOT base any trade ideas on my thoughts and views alone. As I have said on many occasions in my blog, I am a FUNDAMENTAL trader first, then a TECHNICAL trader second using chart analysis to establish what I believe to be excellent trade entry positions. However, you must make up your own mind and trade at your own risk deciding if the entry levels I refer to actually meet with your views and thoughts. This makes complete sense as the risk in trading your account is 100% owned by you\r\n\r\n<u>THIRD PARTY COMPANIES WITH BANNERS ON MY WEBSITE:</u>\r\n\r\nThere are a small number of companies with banners on my website. In the interests of full disclosure I have a reciprocal business arrangement with these companies to promote their products. Unlike many of my competitors, I use the products and services provided by these companies. I will NOT allow any third party on my website unless I am 100% happy that they can back up their promise. By virtue of the fact, I work with these companies almost daily. I am more than confident to have them advertise on my website. Any reader who buys products or services from any advertiser via a banner on my website, <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a> will automatically have my help and assistance with any issues that they may have with my partnered advertisers.\r\n\r\n<u>TRADING &amp; PERFORMANCES DISCLAIMER:</u>\r\n\r\nFLASH, RADAR and FUNDAMENTAL trade set-ups, “Tweets” and “Trade ideas” that are posted in my blogs or on Twitter are trades and set-ups that interest me. They are provided for training and informational purposes only and should not be interpreted as an offer, solicitation or recommendation of any specific security or investment strategy. Past performance is not indicative of future results. Trading Forex carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to trade any such leveraged products you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with trading on margin, and seek advice from an independent financial adviser if you have any doubts.','GREECE - THE OPTIONS... IS IT A or B?','','inherit','open','closed','','6029-revision-v1','','','2015-05-23 15:04:36','2015-05-23 20:04:36','',6029,'https://weeklyfxdrivethru.com/6029-revision-v1/',0,'revision','',0),(6032,1,'2015-05-24 15:44:59','2015-05-24 20:44:59','<h3 style=\"text-align: center;\"><strong>THE PREMIUM SERVICE\r\n</strong><strong>The Home of Single-Lot Trading\r\nwww.weeklyfxdrivethru.com</strong></h3>\r\n<strong>DATE: 24.05.2015\r\nREFERENCE: #154\r\n</strong><strong>BLOG: THE WEEKLY FX DRIVE THRU</strong>\r\n\r\n&nbsp;\r\n<ol>\r\n	<li><strong> INTRODUCTION - MY OVERVIEW OF THE FOREX MARKET:</strong></li>\r\n</ol>\r\n<u>LOOKING BACKWARDS, FORWARDS &amp; SIDEWAYS (FOR GOOD MEASURE) AT THE FX MARKET:</u>\r\n\r\n<u>1.1 - LOOKING BACKWARDS:</u>\r\n\r\nIt was a strange trading week. It wasn’t the first strange one this year and without question, I think that I am safe to say that it will not be the last one either. I had to travel a little during the week so from my own trading perspective it was a little dis-jointed, but I also know that many subscribers found the week weird to trade for a number of factors and that they were tied to their computers all week.\r\n\r\nFOMC MEETING MINUTES:\r\n\r\nThese always achieve premier billing when the week’s news is reviewed. The hype over when the FED will raise interest rates in the U.S. quite frankly now borders on the ridiculous. When will it happen…. as Frasier Crane once stated “Time is irrelevant here in the 7<sup>th</sup> circle of hell……this is the place where even despair dies”. This is how I feel on the subject. Will someone please stick a “red hot poker” up the collective ass of the FED and just do it. Feck the bloody data, it is always going to be mixed at best this year…do it …be done and lets move on.\r\n\r\nIf I hear Steve Liesman on CNBC anymore, whining about FED language and the data, I think I will be on Knob Creek and Diets for breakfast to accompany my famous, and, without doubt, best in the world Montreal bagel from Fairmont Bagel. I know that I am originally from Liverpool and have a low patience tolerance but give me a fecking break.\r\n\r\nMoving on from the pleasantries, the minutes were neither one thing nor the other. Even the friggin FOMC committee is bored with when they should raise rates and what language should be released in the minutes. It looks like a hike in June is not going to happen but hey, never say never. September looks favourite now, but about a week ago it was never going to happen in 2015 the consumer data was sooooooo bad.\r\n\r\nIt’s all about Wall Street. The fund managers who suckle on the teat of the FED and cannot manage without their hands being held are now so spoilt, they expect the FED to say that it will happen precisely on this day at this time. Bernanke did a great job in my opinion but my God, he has spoilt Wall Street.\r\n\r\nI question who runs the U.S. Its not the dysfunctional idiots in Washington who were elected by the people. All they do is inter-party squabble and place party and personal politics ahead of the countries national interest. Is it the FED that runs the U.S.? At times they appear to be one with Wall Street and not Main Street. Who looks after the people that need help in the U.S.? That is another blog to write…\r\n\r\nEUROZONE PMi DATA and GERMAN ZEW AND IFO DATA:\r\n\r\nRather mixed in my opinion. Taking a view from a macro level. The EUROZONE data looks to be mainly improving, however, German data is not consistent. It is good to see French and Spanish data generally improving, but Italy must now be a concern. After GREECE defaults, the markets will be pressurizing the Italians next, and if, as I expect the Greeks are back with the Drachma, the Italians will want the Lira. The CONTAGION begins.\r\n\r\nU.S. and CANADIAN CPi DATA:\r\n\r\nCanadian Data was weaker than expected but the U.S. data on Consumer Prices was strong, sending the DXY higher (see below).\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/CPi-DATA-24052015.png\"><img class=\"aligncenter size-full wp-image-5990\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/CPi-DATA-24052015.png\" alt=\"CPi DATA 24052015\" width=\"816\" height=\"160\" /></a>\r\n\r\n&nbsp;\r\n\r\nQuite frankly, the DXY looks to be in a bullish A+D = C=D style pattern, which, if (and it is a big if)…it plays out could place the DXY at 115.00. Where would that place the EUR/USD? Sub parity for sure.\r\n\r\nLast Friday, on the back of consumer prices the USD went crazy taking the EUR/USD from 1.1160 to 1.0970 at one point before pulling back a little.\r\n\r\nInside Section 4 there is a chart of the USD Index (DXY) that I have included showing the potential of the DXY potential measured move and what this potentially means for us as Forex Traders from just one currency pair. I hope that I can expand on this matter next week.\r\n\r\nSince the CPi data release, I have not viewed CNBC or BLOOMBERG as I do not think that I could take the commentary. It is amazing what a little bit of inflation data can do.\r\n\r\n<u>1.2 - LOOKING FORWARDS:</u>\r\n\r\n<u>MAJOR FOREX NEWS THIS WEEK THAT INTERESTS ME:</u>\r\n\r\n<u>(There are many more news items related to the Forex Market than the ones listed below. These are the ones that interest me. You can go to </u><a href=\"http://www.forexfactory.com\">www.forexfactory.com</a><u> and </u><a href=\"http://www.tradingeconomics.com\">www.tradingeconomics.com</a><u> for more comprehensive lists of all news events that are Forex related).</u>\r\nSUNDAY: N/A.\r\n\r\nMONDAY: NZD – Trade Balance.\r\n\r\nTUESDAY: USD - CB Consumer Confidence.\r\n\r\nWEDNESDAY: BOC – Rate Statement.\r\nWEDNESDAY: AUD – PCE Data.\r\n\r\nTHURSDAY: NZD – ANZ Business Confidence.\r\n\r\nFRIDAY: GBP – GDP.\r\nFRIDAY: USD – GDP.\r\nFRIDAY: CAD – GDP.\r\n\r\n<u>1.3 - LOOKING SIDEWAYS (FOR GOOD MEASURE!!): </u>\r\n\r\nWhilst this blog goes as a FREE NEWSLETTER to subscribers via THE WEEKLY FX DRIVE THRU web site, it is essentially a review for my PREMIUM SERVICE GOLD SUBSCRIBERS. Part of the blog is only for GOLD SUBSCRIBERS for obvious reasons and basically those who subscribe through my website or access it via social media get a feel for what is provided through the other “open” sections. This section refers to correspondence with subscribers over the past 7 days.\r\n\r\nThe main theme or questions, views and comments this week were: -\r\n\r\nTRADING CONDITIONS and PROFITABILITY:\r\n\r\nIt is hard at the moment and I am saying this after a really good week of PREMIUM SERVICE trading. As I have told several of you, my own trading account varies in profitability from the PREMIUM SERVICE account. I operate the PREMIUM SERVICE account with single lot trades. These are placed across 4 different broker accounts.\r\n<ul>\r\n	<li>1 - COMMODITY X RATE PAIRS &amp; FUNDAMENTAL TRADES.</li>\r\n	<li>2 – RADAR TRADES (USD MAJORS).</li>\r\n	<li>3 – FLASH TRADES (USD MAJORS).</li>\r\n	<li>4 – NON USD MAJOR TRADES.</li>\r\n</ul>\r\nThese accounts make money.\r\n\r\nWith my own trading accounts, I trade different lot sized trades and my loss trades always seem to be those with a bigger position being traded. So pip wise the loss can be similar to the PREMIUM SERVICE but financially losses are multiplied. If you recall, I worked off my FXCM loss after the CHF peg removal and then some squeezes set me back.\r\n\r\nI think that one of my subscribers described the market a month or so ago as “one step forwards and two steps backwards”. This is true as far as my personal trading is concerned. I am managing risk but my larger sized trades are unfortunately just not working out. I have had smallish pip losses, but larger $$$ losses than the single lot trades that are undertaken through the PREMIUM SERVICE. I hope that this makes sense to calculate. Common sense says why not trade all trades the same size, I wont trade GBP/NZD or any X rate pair the same size as a EUR/USD or EUR/GBP trade, so there has to be a difference. This is how and why overall performances can differ from those in the PREMIUM SERVICE\r\n\r\nI sidetracked a little here but the bottom line is we are in a range bound market and there is still a lot of geopolitical news in the air. Whilst we may agree that the equity markets are at extremes, the markets are stretched and twitchy at these levels. The biggest buyers of shares are companies themselves re-purchasing stock and I would say that the markets are just waiting for a reason to pullback. This causes lack of correlation, which fuels uncertainty and this manifests itself through some strange moves neither FUNDAMENTALLY or DATA driven\r\n\r\nLike many of you guys, I suffer as well. All I can say is slow and steady wins the race. The PREMIUM SERVICE single-lot trades offer all round consistency of a performance return.\r\n\r\nTRENDING MARKET CONDITIONS:\r\n\r\nI cannot see this happening until GREECE is out of the way. Only then do I think that the Central bank divergences will take a prime role. We have to be patient. It may never happen, but in section 4 (for subscribers only) I have aired my views on trades which, show some great $$$ opportunities should it happen. Some of the charts in section 4 this week in my opinion show the best $$$ opportunities we have had this year so far. They are all technical set ups that match and meet 100% with my FUNDAMENTAL views.\r\n\r\nI could be bold and say this is the TRENDING MARKET but even though I am very positive, these trades will not move in straight lines as you know and they could take several moves along the way that may cut against the overall trending move.\r\n<ol start=\"2\">\r\n	<li><strong><u> WHAT’S ON MY MIND: -\r\nTHE FUNDAMENTAL TRADERS OVERVIEW:</u></strong></li>\r\n</ol>\r\n<h3 style=\"text-align: center;\"><strong>GREECE - THE OPTIONS... IS IT A or B?</strong></h3>\r\nA short view this week, I keep being asked why am I so Anti-European?\r\n\r\nThe simple plain matter of fact is that I am not Anti-European, just anti the EUROZONE single currency and what it stands for and how it was introduced into so many countries without the people being able to vote. So much for European democracy!!\r\n\r\nI could write for pages on this subject, so in advance, please forgive me for keeping this brief and at a high level.\r\n\r\nBasically as I see it, GREECE has two options and for simplicity and consistency I am going to call them Option A and not surprisingly Option B.\r\n\r\n<span style=\"text-decoration: underline;\">OPTION A:</span>\r\n\r\n<span style=\"text-decoration: underline;\">GREECE DEFAULTS ON IT’S NEXT SET OF PAYMENTS TO ITS CREDITORS.</span>\r\n\r\nFor me, this is the most likely scenario.\r\n\r\nWhat happens?\r\n\r\nInitially, I expect CAPITAL CONTROLS. The Central Bank will issue firm rules on moving money in and out of the country and there will probably be cash limits on withdrawals from banks over the counter. I would expect cash machines to be taken off line.\r\n\r\nNext, I expect that the GREEK GOVERNMENT will formally announce that they are withdrawing from the single-currency and that the Drachma will be re-introduced. It will probably be phased in as a parallel currency along the lines that the EUR was introduced back in the day to replace the Drachma. There is scaremongering going on stating that paying for items in EUR instead Drachma will be cheaper. There should be an official exchange rate between the two currencies to avoid that.\r\n\r\nThe markets…. equities I expect to close down for 48 hours or so. Bonds will be mental and the Forex Market will be on acid.\r\n\r\nI expect the EUR/USD to fall initially quite hard and fast, however here are commentators that have told me directly that they expect the EUR to strengthen on the news of a GREECE exit. This is based upon the fact that the weak link is removed.\r\n\r\nMy view is somewhat different. I expect right wing groups in SPAIN, ITALY and PORTUGAL to grow in popularity and threaten political stability. This would be on the basis of, if GREECE can exit and have the Drachma back, we will have our Pesetas, Liras and Escudos back. Losing ones sovereign currency is a big thing. Unless you are European and lost your sovereignty you don’t get it.\r\n\r\nI predict a CONTAGION effect.\r\n\r\nThis will keep the single currency pressured to the downside.\r\n\r\n<span style=\"text-decoration: underline;\">OPTION B:</span>\r\n\r\n<span style=\"text-decoration: underline;\">THE TRIOKA AGREE TERMS WITH GREECE TO EXTEND CREDIT FACILITIES – AGREE BAILOUT III</span>\r\n\r\nThis is what I will call the kicking of the can down the road solution. There is no better place on this glorious planet than the EUROZONE for can kicking.\r\n\r\nBasically, GREECE gets terms that they feel that they can meet. We all know that severe cost cutting and selling prized assets is what the Tsipras led Government needs to do to achieve this result. That will not happen. It is NOT the GREEK psyche. Culturally NEVER going to happen. They may say that they will BUT they wont do it.\r\n\r\nThe only settlement is a haircut being agreed with creditors. Up to now creditors have stood firm - all or nothing. This is dead simple. Something is better than nothing. This is the only B option that will work in my opinion.\r\n\r\nWhat happens?\r\n\r\nThe introduction of CAPITAL CONTROLS and the Drachma is avoided.\r\n\r\nThe equities and Forex markets will sell off and then bounce on the news. Then give it time…\r\n\r\nThe CONTAGION effect comes into play.\r\n\r\nAll governments that have had bailouts since the 2008-9 crash will want to be treated as the GREECE government has been treated. Essentially, why should bad behavior be rewarded? The Likes of PORTUGAL, IRELAND, CYPRUS etc will ask for their conditions to be reviewed and revised….they too will be looking for cheques in the post from Frankfurt.\r\n\r\nOn the news of refunds being demanded from various governments around the EUROZONE, the EUR/USD will fall under uncertainty. There will be calls of “refund or we leave”. The extreme parties will say one rule for one but not one rule for all, this is anti the agreement we co-signed at the outset.\r\n\r\nThis will keep the EUR/USD pressured to the downside.\r\n\r\nYou can agree with me 100%, 50% or whatever. You can disagree entirely with my thoughts. I will always have an opinion.\r\n\r\nThe simple fact is that something is going to happen and the name of the Jack Nicholson movie “Something’s Gotta Give” comes to mind.\r\n\r\n<strong> </strong>\r\n<ol start=\"3\">\r\n	<li><strong><u> THE PREMIUM SERVICE:</u></strong></li>\r\n</ol>\r\n<strong><u>SUMMARY OF PERFORMANCE:</u></strong>\r\n\r\n<u>3.1 – OVERVIEW and SUBSCRIPTION OPTIONS, FEATURES and PRICING:</u>\r\n\r\nFor new readers who may not be aware, I refer to the PREMIUM SERVICE quite a lot in this blog and for more details about what it is, and, how much it costs, you will need to go the welcome page of <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a>\r\n\r\nAt the top of my welcome page there are three drop down menus: -\r\nPREMIUM SERVICE PROMOTIONS (if available)\r\nSIGN-UP\r\nDISCLAIMER\r\n\r\nFurther details and how to join are all contained there. You will need a PayPal account to subscribe.\r\n\r\nBelow I provide an overview of the GOLD and SILVER subscription options and pricing.\r\n\r\n<u>GOLD MEMBER SUBSCRIPTION FEATURES &amp; PRICING OPTIONS:\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\">weeklyfxdrivethru.com</a></li>\r\n	<li>A dedicated exclusive twitter feed for GOLD MEMBER subscribers only @ThePremService.</li>\r\n	<li>All trade set-ups communicated via Twitter and RADAR and FUNDAMENTAL trades additionally via email when possible.</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\">weeklyfxdrivethru.com</a></li>\r\n	<li>My thoughts and comments on market conditions via twitter and/or email.</li>\r\n</ul>\r\nGOLD MEMBER SUBSCRIPTION OPTION PRICING:\r\n(Please note that PayPal works in months NOT weeks)\r\n10 weeks / 3 months:               USD $295.00\r\n20 weeks / 6 months:               USD $495.00\r\n40 weeks / 12 months:             USD $795.00\r\n\r\n<u>SILVER MEMBER SUBSCRIPTION FEATURES &amp; PRICING OPTIONS:\r\n</u>\r\n<ul>\r\n	<li>Simple 4 weekly (monthly) membership pricing.</li>\r\n	<li>A dedicated exclusive twitter feed for SILVER MEMBER subscribers only @PremServSilver.</li>\r\n	<li>All my trade set-ups delivered to you via the SILVER MEMBER subscriber twitter feed @PremServSilver.</li>\r\n	<li>Access to the PREMIUM SERVICE website (relevant trade information only).</li>\r\n	<li>The “FREE NEWSLETTER” version of THE WEEKLY FX DRIVE THRU delivered weekly direct to you email inbox and viewable online at <a href=\"http://www.weeklyfxdrivethru.com\">weeklyfxdrivethru.com</a></li>\r\n</ul>\r\nSILVER MEMBER SUBSCRIPTION OPTION PRICING:\r\n(Please note that PayPal works in months NOT weeks)\r\n\r\n4 weeks / 1 month:                    USD $100.00\r\n\r\n<u>3.2 - SUMMARY OF PERFORMANCE:</u>\r\n\r\n<u>3.2.1 – PREMIUM SERVICE – COST INCOME ANALYSIS (USD):</u>\r\n\r\n&nbsp;\r\n<p style=\"text-align: center;\">EMANATING FROM TRADE SET-UPS - 2015 to date:</p>\r\n<p style=\"text-align: center;\"><u>MICRO LOT TRADER</u> - 365 trades cost to trade = $36.50\r\n<strong>PROFIT</strong> from 365 trades = <strong><u>$519.30</u></strong></p>\r\n<p style=\"text-align: center;\"><u>MINI LOT TRADER</u> - 365 trades cost to trade = $365.00\r\n<strong>PROFIT</strong> from 365 trades = <strong><u>$5,193.00</u></strong></p>\r\n<p style=\"text-align: center;\"><u>STANDARD LOT TRADER</u> - 365 trades cost to trade = $3,650.00\r\n<strong>PROFIT</strong> from 365 trades = <strong><u>$51,930.00</u></strong></p>\r\n<p style=\"text-align: center;\">If the above return from Forex Trading interests you go to</p>\r\n<p style=\"text-align: center;\"><a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a> and check out the subscription options under the tab “PREMIUM SERVICE”.</p>\r\n<p style=\"text-align: center;\">The performance above is based off single-lot trade sizes.</p>\r\n<p style=\"text-align: center;\">THE PREMIUM SERVICE has subscribers with broker accounts of sizes ranging from $2,500 to over $100,000.</p>\r\n<p style=\"text-align: center;\">A profitable trade is a profitable trade. It is all about trading according to the size of your broker account (EFFECTIVE POSITION SIZING) and applying RISK MANAGEMENT principles at all times.</p>\r\n&nbsp;\r\n\r\n<u>3.2.2 - PREMIUM SERVICE - OVERALL TRADE SUMMARY MONTH &amp; YTD:</u>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/PREM-SERV-PROFITS1-24052015.png\"><img class=\"aligncenter size-full wp-image-5991\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/PREM-SERV-PROFITS1-24052015.png\" alt=\"PREM SERV PROFITS1 24052015\" width=\"459\" height=\"427\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/PREM-SERV-PROFITS2-24052015.png\"><img class=\"aligncenter size-full wp-image-5992\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/PREM-SERV-PROFITS2-24052015.png\" alt=\"PREM SERV PROFITS2 24052015\" width=\"460\" height=\"421\" /></a>\r\n\r\n&nbsp;\r\n<ol start=\"4\">\r\n	<li><strong><u> PREMIUM SERVICE SUBSCRIBER EXCLUSIVE CONTENT:</u></strong></li>\r\n</ol>\r\n(Section 4 is exclusive PREMIUM SERVICE content only available to PREMIUM SERVICE subscribers)\r\n\r\n<u>4.1 - EDUCATION:\r\n</u>(The full list of all items and more from this section can be found in the PREMIUM SERVICE website in the Trade Essential area under the EDUCATION tab.\r\n\r\n<u>4.2 – THE PREMIUM SERVICE – TRADING REVIEW:</u>\r\n\r\n<u>4.3 - THE PREMIUM SERVICE - EXISTING LIVE TRADES:</u>\r\n\r\n<u>4.4 - THE PREMIUM SERVICE – EXISTING LIMIT ORDERS:</u>\r\n\r\n<u>4.5 - POTENTIAL TRADES - WHAT CHARTS AM I LOOKING AT?</u>\r\n\r\n<u>4.6 - MAJOR TRADING PAIRS WITH LONGER-TERM TRENDS MATCHING:</u>\r\n\r\n<u>4.7 - THE KEY SUPPORT &amp; RESISTANCE LEVELS WITH THE USD MAJORS</u><strong><u>:</u></strong>\r\n\r\n&nbsp;\r\n<ol start=\"5\">\r\n	<li><strong><u> THE CONCLUSION - MY FINAL THOUGHTS:</u></strong></li>\r\n</ol>\r\n<u>5.1 - SUBSCRIBING TO THE “FREE VERSION” OF THE WEEKLY FX DRIVE THRU:</u>\r\n\r\nIf you like what you have almost completed reading and want to have THE WEEKLY FX DRIVE THRU delivered direct to your email inbox next week, here is what you do: -\r\n\r\nGo to my website: - <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a>\r\n\r\nOn the right hand side of the welcome page under my bio “about me” there is a blue box titled SUBSCRIBE TO FREE NEWSLETTER, click on profile and add your email address. It is as simple and straightforward as that.\r\n\r\nI do NOT sell your email data to anyone…do not worry...one less thing to worry about\r\n\r\nIf you really like my way of explaining things…subscribe to either the PREMIUM SERVICE SILVER or GOLD by visiting my website <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a>\r\n\r\n<u>5.2 –TRADING TIPS &amp; THOUGHTS FOR THE WEEK AHEAD: </u>\r\n\r\nNot much on the economic data front this week.\r\n\r\nIf I were pushed to give a surprise event other than GREECE being sorted…. sorry, just checked the Weather Channel, the BBC and CNN – Hell has not yet frozen over, it would be: to not rule out a slim chance that the BOC could cut interest rates on Wednesday by 0.25% to 0.50%. There is no press conference and no statement required this month.\r\n\r\nReturning to GREECE. To say the position is desperate is an understatement of mammoth proportions. I have not changed my position; I think a default is the only solution with GREECE returning to the Drachma.\r\n\r\nAs always, there will be trades to trade and there will be some great opportunities, please trade in line with your RISK MANAGEMENT parameters from your TRADING PLAN. If you do not have a TRADE PLAN, in my opinion, you should, as this will help you with consistency.\r\n\r\n<strong>Consistency = longevity in trading and that is a critical goal.\r\nIT IS THE KEY MEASUREMENT</strong>\r\n\r\nBefore you enter a trade work out the risk, price it in $$$. Place your stop accordingly. PREMIUM SERVICE subscribers have a full library of information on RISK MANAGEMENT, RISK TOLERANCES and POSITION SIZING etc. available for reference 24x7.\r\n\r\nTake care.\r\n\r\nScott Pickering\r\nThe Pip Accumulator\r\nSunday May 24th 2015\r\n\r\nEMAIL / FOLLOW ME AT:\r\ndrivethru@weeklyfxdrivethru.com\r\nTwitter: @pipaccumulator\r\nGoogle+/scottpickering\r\nTumblr: thepipaccumulator\r\n\r\n<u>VIEWS AND COMMENTS IN THIS BLOG:</u>\r\n\r\nAll the comments and views expressed in my blog are my thoughts and ideas only. They are based on my FUNDAMENTAL views of the markets and my thoughts on the individuals concerned on how they manage positions in the public domain. In addition, I have my own thoughts and views about what I think goes on behind closed doors. You should NOT base any trade ideas on my thoughts and views alone. As I have said on many occasions in my blog, I am a FUNDAMENTAL trader first, then a TECHNICAL trader second using chart analysis to establish what I believe to be excellent trade entry positions. However, you must make up your own mind and trade at your own risk deciding if the entry levels I refer to actually meet with your views and thoughts. This makes complete sense as the risk in trading your account is 100% owned by you\r\n\r\n<u>THIRD PARTY COMPANIES WITH BANNERS ON MY WEBSITE:</u>\r\n\r\nThere are a small number of companies with banners on my website. In the interests of full disclosure I have a reciprocal business arrangement with these companies to promote their products. Unlike many of my competitors, I use the products and services provided by these companies. I will NOT allow any third party on my website unless I am 100% happy that they can back up their promise. By virtue of the fact, I work with these companies almost daily. I am more than confident to have them advertise on my website. Any reader who buys products or services from any advertiser via a banner on my website, <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a> will automatically have my help and assistance with any issues that they may have with my partnered advertisers.\r\n\r\n<u>TRADING &amp; PERFORMANCES DISCLAIMER:</u>\r\n\r\nFLASH, RADAR and FUNDAMENTAL trade set-ups, “Tweets” and “Trade ideas” that are posted in my blogs or on Twitter are trades and set-ups that interest me. They are provided for training and informational purposes only and should not be interpreted as an offer, solicitation or recommendation of any specific security or investment strategy. Past performance is not indicative of future results. Trading Forex carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to trade any such leveraged products you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with trading on margin, and seek advice from an independent financial adviser if you have any doubts.','GREECE - THE OPTIONS... IS IT A or B?','','inherit','open','closed','','6029-revision-v1','','','2015-05-24 15:44:59','2015-05-24 20:44:59','',6029,'https://weeklyfxdrivethru.com/6029-revision-v1/',0,'revision','',0),(6077,1,'2015-05-30 14:17:59','2015-05-30 19:17:59','<section class=\"one-sixth first\">\r\n<h4>Completed Trades Risk/Reward Analysis Archives</h4>\r\n<div class=\"menu\"><a class=\"flashmenu-item\" href=\"#\">2015</a></div>\r\n</section><section class=\"five-sixths\">\r\n<div class=\"one-half first\">\r\n<h2>This Year\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/PS-RISK-REWARD-310520151.png\"><img class=\"aligncenter size-full wp-image-6076\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/PS-RISK-REWARD-310520151.png\" alt=\"PS RISK-REWARD - 31052015\" width=\"434\" height=\"536\" /></a></h2>\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n</div>\r\n<div class=\"one-half\">\r\n<h2>PREVIOUS YEARS</h2>\r\n<h2><a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/12/PREM-SERV-RISK-REWARD-31122014-YTD.png\"><img class=\"aligncenter size-full wp-image-4964\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/12/PREM-SERV-RISK-REWARD-31122014-YTD.png\" alt=\"PREM SERV RISK-REWARD 31122014 YTD\" width=\"436\" height=\"543\" /></a></h2>\r\n</div>\r\n</section>','COMPLETED TRADES RISK / REWARD ANALYSIS','','inherit','open','closed','','5006-revision-v1','','','2015-05-30 14:17:59','2015-05-30 19:17:59','',5006,'https://weeklyfxdrivethru.com/5006-revision-v1/',0,'revision','',0),(6067,1,'2015-05-30 13:45:33','2015-05-30 18:45:33','<h3 style=\"text-align: center;\"><strong>THE PREMIUM SERVICE\r\n</strong><strong>The Home of Single-Lot Trading\r\nwww.weeklyfxdrivethru.com</strong></h3>\r\n<strong>DATE: 31.05.2015\r\nREFERENCE: #62\r\n</strong><strong>BLOG: THE PREMIUM SERVICE</strong>\r\n\r\n&nbsp;\r\n<ol>\r\n	<li><strong> INTRODUCTION – THE VIEW FROM MY TRADE DESK:</strong></li>\r\n</ol>\r\n<u>LOOKING BACKWARDS, FORWARDS &amp; SIDEWAYS (FOR GOOD MEASURE) AT THE FX MARKET:</u>\r\n\r\n<u>1.1 - LOOKING BACKWARDS:</u>\r\n\r\nGREECE:\r\n\r\nIt was a week of waiting for news of something to happen from the EUROGROUP, IMF or the ECB regarding GREECE. There were rumours from the Greek Government mainly from Varoufakis about a settlement being close and then we had counter rumours about the alleged progress from the pit bull aka Schaeuble denying all. Schaeuble is outspoken, of that there is no doubt and frankly I would believe him on the GREECE rumours.\r\n\r\nMy fear was that a Greek agreement with creditors could see a monumental spike in the EUR/USD maybe as high as 1.1200. Then as reality sets in, that the agreement is just another “can-kicking” exercise the drop from the highs, which would be my trade, should be equally as strong. How far would we drop maybe below 1.0800, who knows, but I strongly suspect this time the markets will see the “fudge” for what it is.\r\n\r\nOn the other hand, as I have written before, is the possibility of the default, hair-cut, white flag, we’re leaving the single currency and re-instating the drachma scenarios. This would see the EUR/USD heading to parity very quickly as I see a CONTAGION effect taking place very quickly that will gather momentum.\r\n\r\nSo with this news hanging over me every time I was considering a trade, I found myself deciding to remain cautious and mainly sidelined.\r\n\r\nThere is a lot of speculation that a settlement will take place over this weekend. I am in the camp of announcements on Monday, so that the EUROZONE markets whatever the outcome is can be monitored when open.\r\n\r\nLet’s see if anything unfolds in this ongoing saga of epic proportions. It could all be the “Boy who cried wolf” once again. Remember, we have been at this stage so many times before.\r\n\r\nAUSTRALIA and NEW ZEALAND:\r\n\r\nBoth of these currencies continued to drift lower against the USD. It really does look very bearish for both currencies and if as we are told the FED is going to raise interest rates this year, the Kiwi and the Aussie are looking at much lower exchange rates than the current levels. The possibility is very strong that the AUD/USD will be sub 0.7000 and the NZD/USD sub 0.6500.\r\n\r\nLast week we saw poor Private Capital Expenditure data for Australia and poor ANZ Business Confidence data for New Zealand. Both the RBA and RBNZ are on “DOVISH” paths so these currencies and their cross-rates should offer excellent trading opportunities moving forward, with some quite exceptional pip movements on offer.\r\n\r\nThe RBA meets this week and there is plenty of China data coming up that will certainly have an effect on both of these currencies over the next 5/6 days.\r\n\r\n&nbsp;\r\n\r\n<u>1.2 - LOOKING FORWARDS:</u>\r\n\r\n<u>MAJOR FOREX NEWS THIS WEEK THAT INTERESTS ME:</u>\r\n\r\n<u>(There are many more news items related to the Forex Market than the ones listed below. These are the ones that interest me. You can go to </u><a href=\"http://www.forexfactory.com\">www.forexfactory.com</a><u> and </u><a href=\"http://www.tradingeconomics.com\">www.tradingeconomics.com</a><u> for more comprehensive lists of all news events that are Forex related).</u>\r\nSUNDAY: CNY – Manufacturing PMi.\r\nSUNDAY: AUD – Building Approvals.\r\nSUNDAY: CNY – HSBC Final Manufacturing PMi.\r\n\r\nMONDAY: GBP – Manufacturing PMi.\r\nMONDAY: USD – ISM Manufacturing PMi.\r\n\r\nTUESDAY: AUD – RBA Interest Rate Statement.\r\nTUESDAY: GBP – Construction PMi.\r\nTUESDAY: NZD – Dairy Auction Prices.\r\nTUESDAY: AUD – GDP.\r\n\r\nWEDNESDAY: GBP – Services PMi.\r\nWEDNESDAY: EUR – Interest Rate Announcement and Press Conference.\r\nWEDNESDAY: USD – ADP Non-Farm Employment change and Trade Balance.\r\nWEDNESDAY: CAD – Trade Balance.\r\nWEDNESDAY: AUD – Retail Sales and Trade Balance.\r\n\r\nTHURSDAY: GBP – BOE Bank Rate.\r\nTHURSDAY: CAD – IVEY PMi.\r\n\r\nFRIDAY: USD – Non Farm Payrolls and Unemployment Rate.\r\nFRIDAY: CAD – Employment Data and Unemployment Rate.\r\n\r\n&nbsp;\r\n\r\n<u>1.3 - LOOKING SIDEWAYS (FOR GOOD MEASURE!!): </u>\r\n\r\nAs I alluded to earlier, the last week was a week when I felt we were waiting for something to happen. We had moves, which is always the bonus of trading Forex, there are nearly always opportunities, the big question as always is - can you find the opportunities and then can you actually trade them. There appears to be so many 5 minute traders in the market place at the moment, and, whilst I agree that the present market conditions certainly benefit day trading styles, if you are by nature a trader that wants to see trades try to run a little, the market is challenging.\r\n\r\nWe are, and have been for some time range bound. Yes, I will concede one or two moves have been more than a day trader’s trade but overall we have been operating in a chop fest.\r\n\r\nI find myself repeating the fact that uncertainty drives a choppy market. GREECE and the FED rate increase are the two items of uncertainty of late that have been dominating the Forex news and discussions. Until we have these matters addressed the present trading conditions will prevail.\r\n\r\n&nbsp;\r\n<ol start=\"2\">\r\n	<li><strong><u> WHAT’S ON MY MIND: -\r\nTHE FUNDAMENTAL TRADERS OVERVIEW:</u></strong></li>\r\n</ol>\r\n<h4 style=\"text-align: center;\">AS EACH WEEK PASSES MY “DUCKS” ARE LINING UP NICELY</h4>\r\nAs most regular readers of this blog will know already, I am basically a FUNDAMENTAL trader first and then as I see the technical’s come into position I am ready to trade.\r\n\r\nLet me be clear, being a FUNDAMENTAL trader suits my approach to trading perfectly, I like to think that I am a swing trader at heart but I will adapt to whatever I have to, but I do prefer a longer-term view. This year has been a nightmare for me in this regard and I have been more accommodating of shorter time framed trades. PREMIUM SERVICE subscribers can see this very clearly as I recommended more trades this year compared to 2014 and the profit per trade is lower than 2014. Although I am not, I look at myself sometimes as being a scalping trader, not that there is anything wrong with scalping it is just not my thing, well at least that is what I keep telling myself, after a 5 minute trade!!\r\n\r\nMoving on….\r\n\r\nWhilst my debate over trading style still hangs over me; every week that has passed recently has brought my macro level FUNDAMENTAL view on world economics related to Forex closer. I refer to this as my ducks lining up.\r\n\r\nAs I have written many times before correlations matter in the markets. The relationship in pricing if consistent allows greater confidence when placing trades.\r\n\r\nI have written so many times, that I believe all markets relate to the pricing of commodities first. “It is all about commodities”, was a phrase I heard years ago. It stuck with me and today, I still believe this to be the case.\r\n\r\nMy FUNDAMENTAL views moving forward are very simple.\r\n\r\nI have Forex targets below that are targets in my opinion based on the economic effects of central bank monetary policies, plus worldwide economic conditions of growth and inflation.\r\n\r\nEUR/USD – parity or below.\r\n\r\nAUD/USD – 0.7000 or below.\r\n\r\nNZD/USD – 0.6500 or below.\r\n\r\nUSD/CAD – 1.3000 or above.\r\n\r\nUSD/CHF – parity and above.\r\n\r\nHow did I arrive at these objectives, and what specific events are my “DUCKS”??\r\n\r\nFirstly, central banks around the world are dealing with different local economic conditions and have also reacted differently to the effects of the 2008-9 crash. Each central bank obviously has its own monetary policy, but now we have a clear divergence. The FED and maybe to a lesser extent the BOE are hawkish wanting to raise interest rates and the rest are more or less dovish. They need to remain accommodative and market supporting.\r\n\r\nThis divergence fuels my currency exchange rate targets above. Let me just make a few very brief comments about each central bank below.\r\n\r\nFED: – The FED is going to raise interest rates. It would have a severe lack of market credibility should it not carry out FED policy. As the FED is directly opposite to ECB policy and with the EUR currency accounting for in excess of 50% of the DXY calculations, the effect of the move in the EUR/USD should be dramatic. Given the recent DXY move from 80.00 to 100.00, using the drop in the EUR/USD as my guide, I see a similar move again if the FED increases rates and the measured move in the DXY could extend to 115.00 as seen in the chart below. This move would in my opinion place the EUR/USD below or around parity at best.\r\n\r\nFor years there has not been a HAWKISH FED policy, make no mistake the FED in one direction and the ECB in the other will create a big move. Divergent Central Policies are big movers in currencies.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/DXY-RE-DUCKS-SEGMENT-31052015.png\"><img class=\"aligncenter size-large wp-image-6066\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/DXY-RE-DUCKS-SEGMENT-31052015-1024x464.png\" alt=\"DXY RE DUCKS SEGMENT 31052015\" width=\"1024\" height=\"464\" /></a>\r\n\r\n&nbsp;\r\n\r\nBOC: – We saw recently one surprise rate cut from Stephen Poloz, the BOC governor that was supposed to be a one off. But recent Canadian data is poor and, in my opinion, I can see another cut to try and stimulate matters.\r\n\r\nRBA: – Definitely bearish and with Iron Ore prices struggling, general business confidence low and the RBA having openly stated that they want an exchange rate with the AUD/USD closer to 0.7000 or below.\r\n\r\nRBNZ: – The official line is that the RBNZ has gone neutral but the fact that they have indicated no rate hikes when the market was expecting about 2/3 more this year, is bearish and dovish to me. Even the Prime Minister of New Zealand, John Key has said publicly that he wants the NZD/USD exchange rate targeted at 0.6500. When he first said this figure, I thought he was dreaming. The RBNZ has in the past year or so directly intervened in the Forex markets, so his target level is possible, in fact the NZD is so weak at the moment we may go lower.\r\n\r\nTHE ECB – Full on Quantitative Easing (QE) in place for at least another year or so, the EUR being the second most traded currency after the USD means that with the FED and ECB being on divergent central bank monetary policies, the EUR/USD target of parity is not unrealistic and neither is the DXY target of 115.00.\r\n\r\nGBP: – Of late the UK has produced very mixed data, but the next interest rate move will be upwards and not lower. Mark Carney, BOE governor has indicated such a move. Do you believe him? The markets do.\r\n\r\nBOJ: – The Japanese have just announced that they are easing no more. This will be interesting to see if this remains BOJ policy or not.\r\n\r\nSNB: – The exchange rate of the EUR/CHF must be causing concern as it falls closer to parity. The fact that the FED is about to raise rates coupled with the ECB being 100% accommodative, the SNB have sat back, so far, not intervening, but for how long?\r\n\r\n&nbsp;\r\n\r\nIt is a mixed bag but all the above added together is weighted in favour of USD strength, this supports my longer-term FUNDAMENTAL views and my FX targets.\r\n\r\nTherefore DUCK #1 is central bank divergence actually starting to bring home the bacon. This is my major DUCK; it is inline just waiting on the FED to kick-start. Already, we have witnessed dovish central bank economies linked to commodities already weakening (AUD, CAD, NZD). Fed policy will just beat them up some more!\r\n\r\nIn addition to central bank policies my currency objectives are also based around the price action with commodities.\r\n\r\nThere is a slowdown in China. This is now confirmed DUCK #2. This is critical to the economies supplying raw materials to China, mainly New Zealand and Australia.\r\n\r\nThe American households are not buying finished goods in numbers to show growth is leaping forward. Confidence is mixed. Housing in the U.S. is very regionalized, but overall not as many sales therefore not as many home improvements, which then means not as many raw material purchases either, contractors not as busy as they could be. Basically, I am saying that commodities are not being sought in the quantities or prices that the exporters require. It is a vicious circle that just rotates day after day, but these segments of the circle are key to my FUNDAMENTAL views and represent another DUCK (#3), that is in place.\r\n\r\nDUCKS #4, #5 and #6 are GOLD, OIL and COPPER are key charts for me to give my ideas confirmation and direction. Of late we have all witnessed how much the price of a barrel of WTi crude can affect both equities and forex. Generally speaking GOLD is struggling in a zero interest rate environment to get above $1,200.00. OIL is looking like it is heading back towards $50.00 and COPPER is below what I thought would never be breached at $3.00. All of these moves are USD supportive.\r\n\r\nSo I am happy, the ducks are starting to line up. It has taken more time than I thought for this to happen. I would like equities to pullback “DUCK #7” as this will add pressure to AUD and NZD shorts. However, the slowdown, the Central banks and Commodity currencies are almost in place.\r\n\r\nI just need the FED to kick start the big move. Will they move before the summer doldrums? I had a lot of hope initially that this would be the case, but now I am wondering will they delay any move on rates until September / October. One school of thought is that the best economic data quarter for the U.S. is Q4. So if the FED moves in Q3 by the time the rate effect rolls through into Q4 the economy will cope more than adequately.\r\n\r\nSo, some of my ducks are lined up and others are lining up, I just need the FED to complete the line.\r\n\r\nI am however, able to start getting trades placed now and place my longer-term FUNDAMENTAL view in action.\r\n\r\nFrom a trading detailed perspective, I will be setting up longer-term trades as FUNDAMENTAL trades and in addition I will be taking intra-day trades as RADAR or FLASH trades as well. It should be fun and hopefully profitable over the longer-term.\r\n\r\n<strong> </strong>\r\n<ol start=\"3\">\r\n	<li><strong><u> THE PREMIUM SERVICE:\r\n</u></strong>(All items in this section  are available inside the web site after logging into the PREMIUM SERVICE).</li>\r\n</ol>\r\n&nbsp;\r\n\r\n<u>3.2 – PERFORMANCE REVIEWS:</u>\r\n\r\n<u>3.2.1 – PREMIUM SERVICE – COST INCOME ANALYSIS (USD):\r\n</u>\r\n\r\n<u>3.2.2 – RADAR TRADE SUMMARY – May 2015:</u>\r\n\r\n&nbsp;\r\n\r\n<u>3.2.3 – RADAR TRADE SUMMARY - 2015 YTD:</u>\r\n\r\n<u>3.2.4 – FLASH TRADE SUMMARY – May 2015:</u>\r\n\r\n<u>3.2.5 – FLASH TRADE SUMMARY - 2015 YTD:</u>\r\n\r\n<u>3.2.6 – FUNDAMENTAL TRADE SUMMARY – May 2015:</u>\r\n\r\n<u>3.2.7 – FUNDAMENTAL TRADE SUMMARY - 2015 YTD:</u>\r\n\r\n<u>3.2.8 – RISK / REWARD ANALYSIS – 2015 YTD:</u>\r\n\r\n<u>3.2.9 – PROFIT LOSS RATIOS – 2015 YTD:</u>\r\n\r\n<u>3.2.10 – PIP PERFORMANCE COMPARISON 2015 versus 2014:</u>\r\n\r\n<u>3.2.11 - PREMIUM SERVICE - OVERALL TRADE SUMMARY MONTH &amp; YTD:</u>\r\n\r\n<u>3.2.12 – MY THOUGHTS / COMMENTS:</u>\r\n\r\n&nbsp;\r\n<ol start=\"4\">\r\n	<li><strong><u> PREMIUM SERVICE SUBSCRIBER EXCLUSIVE CONTENT:</u></strong></li>\r\n</ol>\r\n(Section 4 is exclusive PREMIUM SERVICE content only available to PREMIUM SERVICE subscribers)\r\n\r\n<u>4.1 - EDUCATION:\r\n</u>(The full list of all items and more from this section can be found in the PREMIUM SERVICE website in the Trade Essential area under the EDUCATION tab.\r\n\r\nThis section will return soon. At the moment this section of the website is under review and I do not want to add more work until the final look is agreed.\r\n\r\nFor now bear with me. Whilst it is sometimes difficult to have topics, I have a few in the can as they say.\r\n\r\n&nbsp;\r\n\r\n<u>4.2 – THE PREMIUM SERVICE – TRADING REVIEW &amp; LOOKING FORWARD:</u>\r\n\r\nIt was a shortened week last week (Holiday Monday) and on Friday I did not trade other than to scalp.\r\n\r\nAs I stated earlier it was a week of lower volume trades and I might add profitable trades. My general feedback from subscribers was that after being whacked recently this week gave us opportunities to claw back some of the previous week’s losses.\r\n\r\nI have made the decision to FUNDAMENTALLY trade the EUR/USD, AUD/USD, NZD/USD, USD/CAD and USD/CHF towards my longer term targets, as well as looking at the cross-rates. Of late I have been hesitant because of GREECE to over commit. I believe the FED will raise rates, so I am waiting on GREECE to be resolved then the trades will drop into position.\r\n\r\nAs subscribers you will have the option of multiple trades, or to just trade the FUNDAMENTAL trades. I will be very active on twitter and email with these alerts as they fall into position.\r\n\r\nThe only downside is that this process will be started just before the summer slow trading season. However, I do believe that we will have directional momentum trading more than not as time progresses.\r\n\r\nIt is the end of another month and the PREMIUM SERVICE and $$$ continue to roll in; I am hoping that 2015 will surpass the performance of 2014. I have to admit that after the CHF PEG and the ensuing squeezes that cut me up, I did not think that the pip volumes would come back so strong. Single-Lot trades, or consistent lot size trades work!\r\n\r\n<u>MAY and YTD 2015 - PERFORMANCE REVIEWED:</u>\r\n\r\nThere is no doubt that this has been a strange trading year so far for Forex Traders. Personally, I have found the numbers of squeezes in the market this year in compared to my previous 7/8 years of trading to be probably the highest. I do not consider myself to be a day trader, although, I am admitting to day trading traits. I trade smaller position sizes, I am in and out of trades faster, and I hardly let trades run for longer than I feel I have to. I have given thousands of dollars back to my brokers this year by trying to let trades run and not bank $$$.\r\n\r\nI have adapted my trading. This can be further seen in the fact that I have more FLASH TRADES, than RADAR and FUNDAMENTAL TRADES added together. I am trading the market more on pullbacks, than anything else.\r\n\r\nIn 2014 the PREMIUM SERVICE had a total of 512 LIVE trades. This year so far there has been 376 so far, 73% of last years total in the first 5 months. That says something.\r\n\r\nMy profit per trade using MINI lots in 2014 was over $21.00. This year so far just over $14.00. More trades less running time.\r\n\r\nYet, at this stage in 2014, the PREMIUM SERVICE had generated 3,872 pips. This year 5,342 pips, that is 1,470 pips more this year than last year in the first 5 months.\r\n\r\nI can analyze and over analyze these statistics, and I will do this over the next few days. The bottom line though is that it is all good news…. long may it continue.\r\n\r\n&nbsp;\r\n\r\n<u>4.3 - THE PREMIUM SERVICE - EXISTING LIVE TRADES:</u>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/PS-LIVE-TRADES-31052015.png\"><img class=\"aligncenter size-full wp-image-6049\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/PS-LIVE-TRADES-31052015.png\" alt=\"PS LIVE TRADES 31052015\" width=\"724\" height=\"578\" /></a>\r\n\r\n&nbsp;\r\n\r\n<u>4.4 - THE PREMIUM SERVICE – EXISTING LIMIT ORDERS:</u>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/PS-LIMIT-ORDERS-31052015.png\"><img class=\"aligncenter size-full wp-image-6048\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/PS-LIMIT-ORDERS-31052015.png\" alt=\"PS LIMIT ORDERS 31052015\" width=\"706\" height=\"445\" /></a>\r\n\r\n&nbsp;\r\n\r\n<u>PLEASE NOTE:</u>\r\n\r\nRemember position sizes for suggested FUNDAMENTAL TRADES should be much smaller than usual, maybe only 20%-25% of your normal trading position size. It is only when we add to our positions that the fun begins. All FUNDAMENTAL trades posted via email contain a second page with details of where I will add trades and when and where stops are moved, the Stair Stepping Stop Protection (SSSP) is self-explanatory and I hope useful. Using this grows your trading position and helps protect the profits made, should the trade gain traction. In addition, I have added some detail on my HEDGING approach as well to the second FUNDAMENTAL TRADE alert page. More detailed information on HEDGING can be found inside the PREMIUM SERVICE website under the EDUCATION tab – Trading Essentials.\r\n\r\nI view the commodity cross-rate pairs, which form the basis of my FUNDAMENTAL TRADE SET-UPS as bonus trades away from the USD majors and over the year they can be very profitable. This is why I have a separate broker account for commodity cross-RATE PAIR trades. It gives me an immediate measurement of performance without the need to extrapolate data.\r\n\r\n<u>4.5 - POTENTIAL TRADES - WHAT CHARTS AM I LOOKING AT?</u>\r\n\r\n(This section usually contains charts mainly relating to non-USD majors, in particular the ones that I am working on and looking at because they catch my eye that may become potential trades in the trading sessions ahead. If there are no comments beneath the charts, my comments / thoughts are written on them directly. I will tweet and email as soon as these possible trades become LIMIT ORDERS)\r\n\r\n<u>THIS WEEKS OVERVIEW:</u>\r\n\r\nI did not get the entry opportunities that I wanted from the CHF pairs that I highlighted last week. They are still in focus and on my RADAR together with some other old favourites. My comments / thoughts / views are contained on the charts.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/AUDCAD-D-31052015.png\"><img class=\"aligncenter size-large wp-image-6065\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/AUDCAD-D-31052015-1024x574.png\" alt=\"AUDCAD D 31052015\" width=\"1024\" height=\"574\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/AUDCHF-W-31052015.png\"><img class=\"aligncenter size-large wp-image-6064\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/AUDCHF-W-31052015-1024x574.png\" alt=\"AUDCHF W 31052015\" width=\"1024\" height=\"574\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/EURCAD-D-31052015.png\"><img class=\"aligncenter size-large wp-image-6063\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/EURCAD-D-31052015-1024x574.png\" alt=\"EURCAD D 31052015\" width=\"1024\" height=\"574\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/EURGBP-D-31052015.png\"><img class=\"aligncenter size-large wp-image-6062\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/EURGBP-D-31052015-1024x574.png\" alt=\"EURGBP D 31052015\" width=\"1024\" height=\"574\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/EURNZD-M-31052015.png\"><img class=\"aligncenter size-large wp-image-6061\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/EURNZD-M-31052015-1024x574.png\" alt=\"EURNZD M 31052015\" width=\"1024\" height=\"574\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/GBPAUD-240M-31052015.png\"><img class=\"aligncenter size-large wp-image-6060\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/GBPAUD-240M-31052015-1024x574.png\" alt=\"GBPAUD 240M 31052015\" width=\"1024\" height=\"574\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/GBPNZD-M-31052015.png\"><img class=\"aligncenter size-large wp-image-6059\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/GBPNZD-M-31052015-1024x574.png\" alt=\"GBPNZD M 31052015\" width=\"1024\" height=\"574\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/NZDCAD-D-31052015.png\"><img class=\"aligncenter size-large wp-image-6058\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/NZDCAD-D-31052015-1024x574.png\" alt=\"NZDCAD D 31052015\" width=\"1024\" height=\"574\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/NZDCHF-W-31052015.png\"><img class=\"aligncenter size-large wp-image-6057\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/NZDCHF-W-31052015-1024x574.png\" alt=\"NZDCHF W 31052015\" width=\"1024\" height=\"574\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n<u>4.6 - MAJOR TRADING PAIRS WITH LONGER-TERM TRENDS MATCHING:</u>\r\n\r\nThe 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/2015/05/PS-TRENDING-PAIRS-31052015.png\"><img class=\"aligncenter size-full wp-image-6053\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/PS-TRENDING-PAIRS-31052015.png\" alt=\"PS TRENDING PAIRS 31052015\" width=\"395\" height=\"512\" /></a>\r\n\r\n&nbsp;\r\n\r\n<u>4.7 - THE KEY SUPPORT &amp; RESISTANCE LEVELS WITH THE USD MAJORS</u><strong><u>:\r\n</u></strong>(The reviews in the section are accompanied with weekly charts of the USD majors)\r\n\r\n<strong>EUR/USD: Closing Price 1.0984</strong>\r\n\r\nIt has been quite a move lower in the past 7 days. The EUR/USD dived lower and then pulled back. We ended the week with a HAMMER candle. This indicates an upside move.\r\n\r\nPersonally, the higher it goes the better, as far as I am concerned for this pair. My objectives on what I want to do moving forward are clear. On the back of the GREECE settlement should that be the outcome, I fully expect that this pair will move higher and then after the move and the realization that maybe this is another can kicking exercise I expect a fall lower. When it tops, this is my area to short from, I am hoping 1.1200 will be achieved.\r\n\r\nI have further thoughts on the chart below.\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/EURUSD-W-31052015.png\"><img class=\"aligncenter size-large wp-image-6039\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/EURUSD-W-31052015-1024x574.png\" alt=\"EURUSD W 31052015\" width=\"1024\" height=\"574\" /></a>\r\n\r\n&nbsp;\r\n\r\nBased on the current situation, support in the EUR/USD is at 1.0920 with resistance is at 1.1060.\r\n\r\n<strong> </strong>\r\n\r\n<strong>GBP/USD: Closing Price 1.5268</strong>.\r\n\r\nThe roller coaster ride with cable continues. After the stunning Conservative electoral victory, the champagne corking is now over and reality is settling in once again.\r\n\r\nFrom the chart below it looks like we are heading for the psychological 1.5000 again. Whatever happens with GREECE will affect the GBP currency one way or another, proximity rules in this instance.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/GBPUSD-W-31052015.png\"><img class=\"aligncenter size-large wp-image-6038\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/GBPUSD-W-31052015-1024x574.png\" alt=\"GBPUSD W 31052015\" width=\"1024\" height=\"574\" /></a>\r\n\r\n&nbsp;\r\n\r\nSupport should be at 1.5200 and resistance at 1.5360.\r\n\r\n&nbsp;\r\n\r\n<strong> </strong>\r\n\r\n<strong>AUD/USD: Closing Price 0.7631</strong>.\r\n\r\nI am looking to enter short as soon as I can on a pullback. We have the RBA meeting on Tuesday. Sunday / Monday price action will determine whether I am taking the trade pre RBA or after the RBA. I am in the camp that a rate cut is on the table.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/AUDUSD-W-31052015.png\"><img class=\"aligncenter size-large wp-image-6040\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/AUDUSD-W-31052015-1024x574.png\" alt=\"AUDUSD W 31052015\" width=\"1024\" height=\"574\" /></a>\r\n\r\n&nbsp;\r\n\r\nSupport should now be at 0.7600 and resistance at 0.7690.\r\n\r\n&nbsp;\r\n\r\n<strong>NZD/USD: Closing Price 0.7086</strong>.\r\n\r\nThe NZD has become the major talking point in the world of currencies. There are so many articles written about this pair it is quite incredible. It is, as you can see on the weekly chart below, very bearish. We are below previous key support areas and a deeper drop beckons.\r\n\r\nI am looking to enter short as soon as I can achieve a credible entry level on a pullback.\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/NZDUSD-W-31052015.png\"><img class=\"aligncenter size-large wp-image-6037\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/NZDUSD-W-31052015-1024x574.png\" alt=\"NZDUSD W 31052015\" width=\"1024\" height=\"574\" /></a>\r\n\r\n&nbsp;\r\n\r\nSupport is at 0.7000 and resistance is at 0.7170.\r\n\r\n&nbsp;\r\n\r\n<strong> </strong>\r\n\r\n<strong>USD/CAD: Closing Price 1.2426.</strong>\r\n\r\nI am annoyed with myself and frustrated that I am not currently long this pair.\r\n\r\nI looked back over the past month or so and I reckon on about 40 trades missed that I wanted to be in. In writing this I fully realize that you cannot be in every trade, but some of the ones you miss niggle away. Last Friday, I cancelled a NZD/CAD short on the CAD data release at 08.30AM. The pair went just a little beyond my LIMIT ORDER entry and pulled back to end the day in what would have been a 53-pip profit, this was poor judgment on my behalf at the time.\r\n\r\nAdditional comments are contained on the chart below.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/USDCAD-W-31052015.png\"><img class=\"aligncenter size-large wp-image-6036\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/USDCAD-W-31052015-1024x574.png\" alt=\"USDCAD W 31052015\" width=\"1024\" height=\"574\" /></a>\r\n\r\nSupport should be good at 1.2350 and resistance is at 1.2540.\r\n\r\n<strong> </strong>\r\n\r\n<strong>USD/CHF: Closing Price 0.9400</strong>.\r\n\r\nMy comments for this pair are contained on the chart. I still fear GREECE fallout will affect this pair.\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/USDCHF-W-31052015.png\"><img class=\"aligncenter size-large wp-image-6035\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/USDCHF-W-31052015-1024x574.png\" alt=\"USDCHF W 31052015\" width=\"1024\" height=\"574\" /></a>\r\n\r\n&nbsp;\r\n\r\nSupport is at 0.9350 and resistance at 0.9450.\r\n\r\n&nbsp;\r\n\r\n<strong> </strong>\r\n\r\n<strong>USD/JPY: Closing Price 123.97. </strong>\r\n\r\nWow…. a nice break of about 400 pips higher in the past two weeks. I just cannot see this pair remaining at these levels for long, but it looks mighty strong, as it remains tied to the 124.00 level. I have great difficulty reading this pair at the best of times, and, right now I am struggling to fathom out, is it going higher or lower. It could just as easily pop up another 100 pips and then at the same time drop back suddenly.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/USDJPY-W-31052015.png\"><img class=\"aligncenter size-large wp-image-6034\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/USDJPY-W-31052015-1024x574.png\" alt=\"USDJPY W 31052015\" width=\"1024\" height=\"574\" /></a>\r\n\r\n&nbsp;\r\n\r\nSupport is at 123.25 and resistance at 124.50.\r\n\r\n&nbsp;\r\n<ol start=\"5\">\r\n	<li><strong><u> THE CONCLUSION - MY FINAL THOUGHTS:</u></strong></li>\r\n</ol>\r\n<u>5.1 - SUBSCRIBING TO THE “FREE VERSION” OF THE WEEKLY FX DRIVE THRU:</u>\r\n\r\nIf you like what you have almost completed reading and want to have THE WEEKLY FX DRIVE THRU delivered direct to your email inbox next week, here is what you do: -\r\n\r\nGo to my website: - <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a>\r\n\r\nOn the right hand side of the welcome page under my bio “about me” there is a blue box titled SUBSCRIBE TO FREE NEWSLETTER, click on profile and add your email address. It is as simple and straightforward as that.\r\n\r\nI do NOT sell your email data to anyone…do not worry...one less thing to worry about!\r\n\r\nIf you really like my way of explaining things…subscribe to either the PREMIUM SERVICE SILVER or GOLD by visiting my website <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a>\r\n\r\n<u>5.2 –TRADING TIPS &amp; THOUGHTS FOR THE WEEK AHEAD: </u>\r\n\r\nThe RBA, ECB and BOE are all on interest rate decisions this week.\r\n\r\nI am expecting a cut from the RBA and it is my intention to be short the AUD/USD ahead of the news with a small position to which I will add. If you are going to have open AUD positions, make sure they are within your RISK TOLERANCE guidelines.\r\n\r\nI expect very little this week from the ECB and BOE, unless with regards to the ECB a major GREECE announcement has screwed up the markets.\r\n\r\nWe also have a lot of PMI data to be released. These whilst historic in nature will give us growth indications and they could all be market movers.\r\n<p style=\"text-align: center;\"><strong>Consistency = longevity in trading and that is a critical goal.\r\nIT IS THE KEY MEASUREMENT</strong></p>\r\nBefore you enter a trade work out the risk, price it in $$$. Place your stop accordingly. PREMIUM SERVICE subscribers have a full library of information on RISK MANAGEMENT, RISK TOLERANCES and POSITION SIZING etc. available for reference 24x7.\r\n\r\n&nbsp;\r\n\r\nTake care.\r\n\r\nScott Pickering\r\nThe Pip Accumulator\r\nSunday May 31st 2015\r\n\r\nEMAIL / FOLLOW ME AT:\r\npremiumservice@weeklyfxdrivethru.com\r\nTwitter: @pipaccumulator\r\nTwitter: @ThePremService\r\nGoogle+/scottpickering\r\nTumblr: thepipaccumulator\r\n\r\n&nbsp;\r\n\r\n<u>VIEWS AND COMMENTS IN THIS BLOG:</u>\r\n\r\nAll the comments and views expressed in my blog are my thoughts and ideas only. They are based on my FUNDAMENTAL views of the markets and my thoughts on the individuals concerned on how they manage positions in the public domain. In addition, I have my own thoughts and views about what I think goes on behind closed doors. You should NOT base any trade ideas on my thoughts and views alone. As I have said on many occasions in my blog, I am a FUNDAMENTAL trader first, then a TECHNICAL trader second using chart analysis to establish what I believe to be excellent trade entry positions. However, you must make up your own mind and trade at your own risk deciding if the entry levels I refer to actually meet with your views and thoughts. This makes complete sense as the risk in trading your account is 100% owned by you.\r\n\r\n<u>THIRD PARTY COMPANIES WITH BANNERS ON MY WEBSITE:</u>\r\n\r\nThere are a small number of companies with banners on my website. In the interests of full disclosure I have a reciprocal business arrangement with these companies to promote their products. Unlike many of my competitors, I use the products and services provided by these companies. I will NOT allow any third party on my website unless I am 100% happy that they can back up their promise. By virtue of the fact, I work with these companies almost daily. I am more than confident to have them advertise on my website. Any reader who buys products or services from any advertiser via a banner on my website, <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a> will automatically have my help and assistance with any issues that they may have with my partnered advertisers.\r\n\r\n<u>TRADING &amp; PERFORMANCES DISCLAIMER:</u>\r\n\r\nFLASH, RADAR and FUNDAMENTAL trade set-ups, “Tweets” and “Trade ideas” that are posted in my blogs or on Twitter are trades and set-ups that interest me. They are provided for training and informational purposes only and should not be interpreted as an offer, solicitation or recommendation of any specific security or investment strategy. Past performance is not indicative of future results. Trading Forex carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to trade any such leveraged products you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with trading on margin, and seek advice from an independent financial adviser if you have any doubts.','AS EACH WEEK PASSES MY “DUCKS” ARE LINING UP NICELY','','publish','open','closed','','as-each-week-passes-my-ducks-are-lining-up-nicely','','','2015-05-30 13:45:33','2015-05-30 18:45:33','',0,'https://weeklyfxdrivethru.com/?post_type=member_posts&#038;p=6067',0,'member_posts','',0),(6068,1,'2015-05-30 13:42:56','2015-05-30 18:42:56','<h3 style=\"text-align: center;\"><strong>THE PREMIUM SERVICE\r\n</strong><strong>The Home of Single-Lot Trading\r\nwww.weeklyfxdrivethru.com</strong></h3>\r\n<strong>DATE: 31.05.2015\r\nREFERENCE: #62\r\n</strong><strong>BLOG: THE PREMIUM SERVICE</strong>\r\n\r\n&nbsp;\r\n<ol>\r\n	<li><strong> INTRODUCTION – THE VIEW FROM MY TRADE DESK:</strong></li>\r\n</ol>\r\n<u>LOOKING BACKWARDS, FORWARDS &amp; SIDEWAYS (FOR GOOD MEASURE) AT THE FX MARKET:</u>\r\n\r\n<u>1.1 - LOOKING BACKWARDS:</u>\r\n\r\nGREECE:\r\n\r\nIt was a week of waiting for news of something to happen from the EUROGROUP, IMF or the ECB regarding GREECE. There were rumours from the Greek Government mainly from Varoufakis about a settlement being close and then we had counter rumours about the alleged progress from the pit bull aka Schaeuble denying all. Schaeuble is outspoken, of that there is no doubt and frankly I would believe him on the GREECE rumours.\r\n\r\nMy fear was that a Greek agreement with creditors could see a monumental spike in the EUR/USD maybe as high as 1.1200. Then as reality sets in, that the agreement is just another “can-kicking” exercise the drop from the highs, which would be my trade, should be equally as strong. How far would we drop maybe below 1.0800, who knows, but I strongly suspect this time the markets will see the “fudge” for what it is.\r\n\r\nOn the other hand, as I have written before, is the possibility of the default, hair-cut, white flag, we’re leaving the single currency and re-instating the drachma scenarios. This would see the EUR/USD heading to parity very quickly as I see a CONTAGION effect taking place very quickly that will gather momentum.\r\n\r\nSo with this news hanging over me every time I was considering a trade, I found myself deciding to remain cautious and mainly sidelined.\r\n\r\nThere is a lot of speculation that a settlement will take place over this weekend. I am in the camp of announcements on Monday, so that the EUROZONE markets whatever the outcome is can be monitored when open.\r\n\r\nLet’s see if anything unfolds in this ongoing saga of epic proportions. It could all be the “Boy who cried wolf” once again. Remember, we have been at this stage so many times before.\r\n\r\nAUSTRALIA and NEW ZEALAND:\r\n\r\nBoth of these currencies continued to drift lower against the USD. It really does look very bearish for both currencies and if as we are told the FED is going to raise interest rates this year, the Kiwi and the Aussie are looking at much lower exchange rates than the current levels. The possibility is very strong that the AUD/USD will be sub 0.7000 and the NZD/USD sub 0.6500.\r\n\r\nLast week we saw poor Private Capital Expenditure data for Australia and poor ANZ Business Confidence data for New Zealand. Both the RBA and RBNZ are on “DOVISH” paths so these currencies and their cross-rates should offer excellent trading opportunities moving forward, with some quite exceptional pip movements on offer.\r\n\r\nThe RBA meets this week and there is plenty of China data coming up that will certainly have an effect on both of these currencies over the next 5/6 days.\r\n\r\n&nbsp;\r\n\r\n<u>1.2 - LOOKING FORWARDS:</u>\r\n\r\n<u>MAJOR FOREX NEWS THIS WEEK THAT INTERESTS ME:</u>\r\n\r\n<u>(There are many more news items related to the Forex Market than the ones listed below. These are the ones that interest me. You can go to </u><a href=\"http://www.forexfactory.com\">www.forexfactory.com</a><u> and </u><a href=\"http://www.tradingeconomics.com\">www.tradingeconomics.com</a><u> for more comprehensive lists of all news events that are Forex related).</u>\r\nSUNDAY: CNY – Manufacturing PMi.\r\nSUNDAY: AUD – Building Approvals.\r\nSUNDAY: CNY – HSBC Final Manufacturing PMi.\r\n\r\nMONDAY: GBP – Manufacturing PMi.\r\nMONDAY: USD – ISM Manufacturing PMi.\r\n\r\nTUESDAY: AUD – RBA Interest Rate Statement.\r\nTUESDAY: GBP – Construction PMi.\r\nTUESDAY: NZD – Dairy Auction Prices.\r\nTUESDAY: AUD – GDP.\r\n\r\nWEDNESDAY: GBP – Services PMi.\r\nWEDNESDAY: EUR – Interest Rate Announcement and Press Conference.\r\nWEDNESDAY: USD – ADP Non-Farm Employment change and Trade Balance.\r\nWEDNESDAY: CAD – Trade Balance.\r\nWEDNESDAY: AUD – Retail Sales and Trade Balance.\r\n\r\nTHURSDAY: GBP – BOE Bank Rate.\r\nTHURSDAY: CAD – IVEY PMi.\r\n\r\nFRIDAY: USD – Non Farm Payrolls and Unemployment Rate.\r\nFRIDAY: CAD – Employment Data and Unemployment Rate.\r\n\r\n&nbsp;\r\n\r\n<u>1.3 - LOOKING SIDEWAYS (FOR GOOD MEASURE!!): </u>\r\n\r\nAs I alluded to earlier, the last week was a week when I felt we were waiting for something to happen. We had moves, which is always the bonus of trading Forex, there are nearly always opportunities, the big question as always is - can you find the opportunities and then can you actually trade them. There appears to be so many 5 minute traders in the market place at the moment, and, whilst I agree that the present market conditions certainly benefit day trading styles, if you are by nature a trader that wants to see trades try to run a little, the market is challenging.\r\n\r\nWe are, and have been for some time range bound. Yes, I will concede one or two moves have been more than a day trader’s trade but overall we have been operating in a chop fest.\r\n\r\nI find myself repeating the fact that uncertainty drives a choppy market. GREECE and the FED rate increase are the two items of uncertainty of late that have been dominating the Forex news and discussions. Until we have these matters addressed the present trading conditions will prevail.\r\n\r\n&nbsp;\r\n<ol start=\"2\">\r\n	<li><strong><u> WHAT’S ON MY MIND: -\r\nTHE FUNDAMENTAL TRADERS OVERVIEW:</u></strong></li>\r\n</ol>\r\n<h4 style=\"text-align: center;\">AS EACH WEEK PASSES MY “DUCKS” ARE LINING UP NICELY</h4>\r\nAs most regular readers of this blog will know already, I am basically a FUNDAMENTAL trader first and then as I see the technical’s come into position I am ready to trade.\r\n\r\nLet me be clear, being a FUNDAMENTAL trader suits my approach to trading perfectly, I like to think that I am a swing trader at heart but I will adapt to whatever I have to, but I do prefer a longer-term view. This year has been a nightmare for me in this regard and I have been more accommodating of shorter time framed trades. PREMIUM SERVICE subscribers can see this very clearly as I recommended more trades this year compared to 2014 and the profit per trade is lower than 2014. Although I am not, I look at myself sometimes as being a scalping trader, not that there is anything wrong with scalping it is just not my thing, well at least that is what I keep telling myself, after a 5 minute trade!!\r\n\r\nMoving on….\r\n\r\nWhilst my debate over trading style still hangs over me; every week that has passed recently has brought my macro level FUNDAMENTAL view on world economics related to Forex closer. I refer to this as my ducks lining up.\r\n\r\nAs I have written many times before correlations matter in the markets. The relationship in pricing if consistent allows greater confidence when placing trades.\r\n\r\nI have written so many times, that I believe all markets relate to the pricing of commodities first. “It is all about commodities”, was a phrase I heard years ago. It stuck with me and today, I still believe this to be the case.\r\n\r\nMy FUNDAMENTAL views moving forward are very simple.\r\n\r\nI have Forex targets below that are targets in my opinion based on the economic effects of central bank monetary policies, plus worldwide economic conditions of growth and inflation.\r\n\r\nEUR/USD – parity or below.\r\n\r\nAUD/USD – 0.7000 or below.\r\n\r\nNZD/USD – 0.6500 or below.\r\n\r\nUSD/CAD – 1.3000 or above.\r\n\r\nUSD/CHF – parity and above.\r\n\r\nHow did I arrive at these objectives, and what specific events are my “DUCKS”??\r\n\r\nFirstly, central banks around the world are dealing with different local economic conditions and have also reacted differently to the effects of the 2008-9 crash. Each central bank obviously has its own monetary policy, but now we have a clear divergence. The FED and maybe to a lesser extent the BOE are hawkish wanting to raise interest rates and the rest are more or less dovish. They need to remain accommodative and market supporting.\r\n\r\nThis divergence fuels my currency exchange rate targets above. Let me just make a few very brief comments about each central bank below.\r\n\r\nFED: – The FED is going to raise interest rates. It would have a severe lack of market credibility should it not carry out FED policy. As the FED is directly opposite to ECB policy and with the EUR currency accounting for in excess of 50% of the DXY calculations, the effect of the move in the EUR/USD should be dramatic. Given the recent DXY move from 80.00 to 100.00, using the drop in the EUR/USD as my guide, I see a similar move again if the FED increases rates and the measured move in the DXY could extend to 115.00 as seen in the chart below. This move would in my opinion place the EUR/USD below or around parity at best.\r\n\r\nFor years there has not been a HAWKISH FED policy, make no mistake the FED in one direction and the ECB in the other will create a big move. Divergent Central Policies are big movers in currencies.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/DXY-RE-DUCKS-SEGMENT-31052015.png\"><img class=\"aligncenter size-large wp-image-6066\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/DXY-RE-DUCKS-SEGMENT-31052015-1024x464.png\" alt=\"DXY RE DUCKS SEGMENT 31052015\" width=\"1024\" height=\"464\" /></a>\r\n\r\n&nbsp;\r\n\r\nBOC: – We saw recently one surprise rate cut from Stephen Poloz, the BOC governor that was supposed to be a one off. But recent Canadian data is poor and, in my opinion, I can see another cut to try and stimulate matters.\r\n\r\nRBA: – Definitely bearish and with Iron Ore prices struggling, general business confidence low and the RBA having openly stated that they want an exchange rate with the AUD/USD closer to 0.7000 or below.\r\n\r\nRBNZ: – The official line is that the RBNZ has gone neutral but the fact that they have indicated no rate hikes when the market was expecting about 2/3 more this year, is bearish and dovish to me. Even the Prime Minister of New Zealand, John Key has said publicly that he wants the NZD/USD exchange rate targeted at 0.6500. When he first said this figure, I thought he was dreaming. The RBNZ has in the past year or so directly intervened in the Forex markets, so his target level is possible, in fact the NZD is so weak at the moment we may go lower.\r\n\r\nTHE ECB – Full on Quantitative Easing (QE) in place for at least another year or so, the EUR being the second most traded currency after the USD means that with the FED and ECB being on divergent central bank monetary policies, the EUR/USD target of parity is not unrealistic and neither is the DXY target of 115.00.\r\n\r\nGBP: – Of late the UK has produced very mixed data, but the next interest rate move will be upwards and not lower. Mark Carney, BOE governor has indicated such a move. Do you believe him? The markets do.\r\n\r\nBOJ: – The Japanese have just announced that they are easing no more. This will be interesting to see if this remains BOJ policy or not.\r\n\r\nSNB: – The exchange rate of the EUR/CHF must be causing concern as it falls closer to parity. The fact that the FED is about to raise rates coupled with the ECB being 100% accommodative, the SNB have sat back, so far, not intervening, but for how long?\r\n\r\n&nbsp;\r\n\r\nIt is a mixed bag but all the above added together is weighted in favour of USD strength, this supports my longer-term FUNDAMENTAL views and my FX targets.\r\n\r\nTherefore DUCK #1 is central bank divergence actually starting to bring home the bacon. This is my major DUCK; it is inline just waiting on the FED to kick-start. Already, we have witnessed dovish central bank economies linked to commodities already weakening (AUD, CAD, NZD). Fed policy will just beat them up some more!\r\n\r\nIn addition to central bank policies my currency objectives are also based around the price action with commodities.\r\n\r\nThere is a slowdown in China. This is now confirmed DUCK #2. This is critical to the economies supplying raw materials to China, mainly New Zealand and Australia.\r\n\r\nThe American households are not buying finished goods in numbers to show growth is leaping forward. Confidence is mixed. Housing in the U.S. is very regionalized, but overall not as many sales therefore not as many home improvements, which then means not as many raw material purchases either, contractors not as busy as they could be. Basically, I am saying that commodities are not being sought in the quantities or prices that the exporters require. It is a vicious circle that just rotates day after day, but these segments of the circle are key to my FUNDAMENTAL views and represent another DUCK (#3), that is in place.\r\n\r\nDUCKS #4, #5 and #6 are GOLD, OIL and COPPER are key charts for me to give my ideas confirmation and direction. Of late we have all witnessed how much the price of a barrel of WTi crude can affect both equities and forex. Generally speaking GOLD is struggling in a zero interest rate environment to get above $1,200.00. OIL is looking like it is heading back towards $50.00 and COPPER is below what I thought would never be breached at $3.00. All of these moves are USD supportive.\r\n\r\nSo I am happy, the ducks are starting to line up. It has taken more time than I thought for this to happen. I would like equities to pullback “DUCK #7” as this will add pressure to AUD and NZD shorts. However, the slowdown, the Central banks and Commodity currencies are almost in place.\r\n\r\nI just need the FED to kick start the big move. Will they move before the summer doldrums? I had a lot of hope initially that this would be the case, but now I am wondering will they delay any move on rates until September / October. One school of thought is that the best economic data quarter for the U.S. is Q4. So if the FED moves in Q3 by the time the rate effect rolls through into Q4 the economy will cope more than adequately.\r\n\r\nSo, some of my ducks are lined up and others are lining up, I just need the FED to complete the line.\r\n\r\nI am however, able to start getting trades placed now and place my longer-term FUNDAMENTAL view in action.\r\n\r\nFrom a trading detailed perspective, I will be setting up longer-term trades as FUNDAMENTAL trades and in addition I will be taking intra-day trades as RADAR or FLASH trades as well. It should be fun and hopefully profitable over the longer-term.\r\n\r\n<strong> </strong>\r\n<ol start=\"3\">\r\n	<li><strong></strong><strong><u> THE PREMIUM SERVICE:\r\n</u></strong>(All items in this section  are available inside the web site after logging into the PREMIUM SERVICE).</li>\r\n</ol>\r\n&nbsp;\r\n\r\n<u>3.2 – PERFORMANCE REVIEWS:</u>\r\n\r\n<u>3.2.1 – PREMIUM SERVICE – COST INCOME ANALYSIS (USD):\r\n</u>\r\n<p style=\"text-align: center;\"></p>\r\n<u>3.2.2 – RADAR TRADE SUMMARY – May 2015:</u>\r\n\r\n&nbsp;\r\n\r\n<u>3.2.3 – RADAR TRADE SUMMARY - 2015 YTD:</u>\r\n\r\n<u>3.2.4 – FLASH TRADE SUMMARY – May 2015:</u>\r\n\r\n<u>3.2.5 – FLASH TRADE SUMMARY - 2015 YTD:</u>\r\n\r\n<u>3.2.6 – FUNDAMENTAL TRADE SUMMARY – May 2015:</u>\r\n\r\n<u>3.2.7 – FUNDAMENTAL TRADE SUMMARY - 2015 YTD:</u>\r\n\r\n<u>3.2.8 – RISK / REWARD ANALYSIS – 2015 YTD:</u>\r\n\r\n<u>3.2.9 – PROFIT LOSS RATIOS – 2015 YTD:</u>\r\n\r\n<u>3.2.10 – PIP PERFORMANCE COMPARISON 2015 versus 2014:</u>\r\n\r\n<u>3.2.11 - PREMIUM SERVICE - OVERALL TRADE SUMMARY MONTH &amp; YTD:</u>\r\n\r\n<u>3.2.12 – MY THOUGHTS / COMMENTS:</u>\r\n\r\n&nbsp;\r\n<ol start=\"4\">\r\n	<li><strong><u> PREMIUM SERVICE SUBSCRIBER EXCLUSIVE CONTENT:</u></strong></li>\r\n</ol>\r\n(Section 4 is exclusive PREMIUM SERVICE content only available to PREMIUM SERVICE subscribers)\r\n\r\n<u>4.1 - EDUCATION:\r\n</u>(The full list of all items and more from this section can be found in the PREMIUM SERVICE website in the Trade Essential area under the EDUCATION tab.\r\n\r\nThis section will return soon. At the moment this section of the website is under review and I do not want to add more work until the final look is agreed.\r\n\r\nFor now bear with me. Whilst it is sometimes difficult to have topics, I have a few in the can as they say.\r\n\r\n&nbsp;\r\n\r\n<u>4.2 – THE PREMIUM SERVICE – TRADING REVIEW &amp; LOOKING FORWARD:</u>\r\n\r\nIt was a shortened week last week (Holiday Monday) and on Friday I did not trade other than to scalp.\r\n\r\nAs I stated earlier it was a week of lower volume trades and I might add profitable trades. My general feedback from subscribers was that after being whacked recently this week gave us opportunities to claw back some of the previous week’s losses.\r\n\r\nI have made the decision to FUNDAMENTALLY trade the EUR/USD, AUD/USD, NZD/USD, USD/CAD and USD/CHF towards my longer term targets, as well as looking at the cross-rates. Of late I have been hesitant because of GREECE to over commit. I believe the FED will raise rates, so I am waiting on GREECE to be resolved then the trades will drop into position.\r\n\r\nAs subscribers you will have the option of multiple trades, or to just trade the FUNDAMENTAL trades. I will be very active on twitter and email with these alerts as they fall into position.\r\n\r\nThe only downside is that this process will be started just before the summer slow trading season. However, I do believe that we will have directional momentum trading more than not as time progresses.\r\n\r\nIt is the end of another month and the PREMIUM SERVICE and $$$ continue to roll in; I am hoping that 2015 will surpass the performance of 2014. I have to admit that after the CHF PEG and the ensuing squeezes that cut me up, I did not think that the pip volumes would come back so strong. Single-Lot trades, or consistent lot size trades work!\r\n\r\n<u>MAY and YTD 2015 - PERFORMANCE REVIEWED:</u>\r\n\r\nThere is no doubt that this has been a strange trading year so far for Forex Traders. Personally, I have found the numbers of squeezes in the market this year in compared to my previous 7/8 years of trading to be probably the highest. I do not consider myself to be a day trader, although, I am admitting to day trading traits. I trade smaller position sizes, I am in and out of trades faster, and I hardly let trades run for longer than I feel I have to. I have given thousands of dollars back to my brokers this year by trying to let trades run and not bank $$$.\r\n\r\nI have adapted my trading. This can be further seen in the fact that I have more FLASH TRADES, than RADAR and FUNDAMENTAL TRADES added together. I am trading the market more on pullbacks, than anything else.\r\n\r\nIn 2014 the PREMIUM SERVICE had a total of 512 LIVE trades. This year so far there has been 376 so far, 73% of last years total in the first 5 months. That says something.\r\n\r\nMy profit per trade using MINI lots in 2014 was over $21.00. This year so far just over $14.00. More trades less running time.\r\n\r\nYet, at this stage in 2014, the PREMIUM SERVICE had generated 3,872 pips. This year 5,342 pips, that is 1,470 pips more this year than last year in the first 5 months.\r\n\r\nI can analyze and over analyze these statistics, and I will do this over the next few days. The bottom line though is that it is all good news…. long may it continue.\r\n\r\n&nbsp;\r\n\r\n<u>4.3 - THE PREMIUM SERVICE - EXISTING LIVE TRADES:</u>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/PS-LIVE-TRADES-31052015.png\"><img class=\"aligncenter size-full wp-image-6049\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/PS-LIVE-TRADES-31052015.png\" alt=\"PS LIVE TRADES 31052015\" width=\"724\" height=\"578\" /></a>\r\n\r\n&nbsp;\r\n\r\n<u>4.4 - THE PREMIUM SERVICE – EXISTING LIMIT ORDERS:</u>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/PS-LIMIT-ORDERS-31052015.png\"><img class=\"aligncenter size-full wp-image-6048\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/PS-LIMIT-ORDERS-31052015.png\" alt=\"PS LIMIT ORDERS 31052015\" width=\"706\" height=\"445\" /></a>\r\n\r\n&nbsp;\r\n\r\n<u>PLEASE NOTE:</u>\r\n\r\nRemember position sizes for suggested FUNDAMENTAL TRADES should be much smaller than usual, maybe only 20%-25% of your normal trading position size. It is only when we add to our positions that the fun begins. All FUNDAMENTAL trades posted via email contain a second page with details of where I will add trades and when and where stops are moved, the Stair Stepping Stop Protection (SSSP) is self-explanatory and I hope useful. Using this grows your trading position and helps protect the profits made, should the trade gain traction. In addition, I have added some detail on my HEDGING approach as well to the second FUNDAMENTAL TRADE alert page. More detailed information on HEDGING can be found inside the PREMIUM SERVICE website under the EDUCATION tab – Trading Essentials.\r\n\r\nI view the commodity cross-rate pairs, which form the basis of my FUNDAMENTAL TRADE SET-UPS as bonus trades away from the USD majors and over the year they can be very profitable. This is why I have a separate broker account for commodity cross-RATE PAIR trades. It gives me an immediate measurement of performance without the need to extrapolate data.\r\n\r\n<u>4.5 - POTENTIAL TRADES - WHAT CHARTS AM I LOOKING AT?</u>\r\n\r\n(This section usually contains charts mainly relating to non-USD majors, in particular the ones that I am working on and looking at because they catch my eye that may become potential trades in the trading sessions ahead. If there are no comments beneath the charts, my comments / thoughts are written on them directly. I will tweet and email as soon as these possible trades become LIMIT ORDERS)\r\n\r\n<u>THIS WEEKS OVERVIEW:</u>\r\n\r\nI did not get the entry opportunities that I wanted from the CHF pairs that I highlighted last week. They are still in focus and on my RADAR together with some other old favourites. My comments / thoughts / views are contained on the charts.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/AUDCAD-D-31052015.png\"><img class=\"aligncenter size-large wp-image-6065\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/AUDCAD-D-31052015-1024x574.png\" alt=\"AUDCAD D 31052015\" width=\"1024\" height=\"574\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/AUDCHF-W-31052015.png\"><img class=\"aligncenter size-large wp-image-6064\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/AUDCHF-W-31052015-1024x574.png\" alt=\"AUDCHF W 31052015\" width=\"1024\" height=\"574\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/EURCAD-D-31052015.png\"><img class=\"aligncenter size-large wp-image-6063\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/EURCAD-D-31052015-1024x574.png\" alt=\"EURCAD D 31052015\" width=\"1024\" height=\"574\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/EURGBP-D-31052015.png\"><img class=\"aligncenter size-large wp-image-6062\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/EURGBP-D-31052015-1024x574.png\" alt=\"EURGBP D 31052015\" width=\"1024\" height=\"574\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/EURNZD-M-31052015.png\"><img class=\"aligncenter size-large wp-image-6061\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/EURNZD-M-31052015-1024x574.png\" alt=\"EURNZD M 31052015\" width=\"1024\" height=\"574\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/GBPAUD-240M-31052015.png\"><img class=\"aligncenter size-large wp-image-6060\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/GBPAUD-240M-31052015-1024x574.png\" alt=\"GBPAUD 240M 31052015\" width=\"1024\" height=\"574\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/GBPNZD-M-31052015.png\"><img class=\"aligncenter size-large wp-image-6059\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/GBPNZD-M-31052015-1024x574.png\" alt=\"GBPNZD M 31052015\" width=\"1024\" height=\"574\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/NZDCAD-D-31052015.png\"><img class=\"aligncenter size-large wp-image-6058\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/NZDCAD-D-31052015-1024x574.png\" alt=\"NZDCAD D 31052015\" width=\"1024\" height=\"574\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/NZDCHF-W-31052015.png\"><img class=\"aligncenter size-large wp-image-6057\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/NZDCHF-W-31052015-1024x574.png\" alt=\"NZDCHF W 31052015\" width=\"1024\" height=\"574\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n<u>4.6 - MAJOR TRADING PAIRS WITH LONGER-TERM TRENDS MATCHING:</u>\r\n\r\nThe 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/2015/05/PS-TRENDING-PAIRS-31052015.png\"><img class=\"aligncenter size-full wp-image-6053\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/PS-TRENDING-PAIRS-31052015.png\" alt=\"PS TRENDING PAIRS 31052015\" width=\"395\" height=\"512\" /></a>\r\n\r\n&nbsp;\r\n\r\n<u>4.7 - THE KEY SUPPORT &amp; RESISTANCE LEVELS WITH THE USD MAJORS</u><strong><u>:\r\n</u></strong>(The reviews in the section are accompanied with daily and / or weekly charts of the USD majors)\r\n\r\n<strong>EUR/USD: Closing Price 1.0984</strong>\r\n\r\nIt has been quite a move lower in the past 7 days. The EUR/USD dived lower and then pulled back. We ended the week with a HAMMER candle. This indicates an upside move.\r\n\r\nPersonally, the higher it goes the better, as far as I am concerned for this pair. My objectives on what I want to do moving forward are clear. On the back of the GREECE settlement should that be the outcome, I fully expect that this pair will move higher and then after the move and the realization that maybe this is another can kicking exercise I expect a fall lower. When it tops, this is my area to short from, I am hoping 1.1200 will be achieved.\r\n\r\nI have further thoughts on the chart below.\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/EURUSD-W-31052015.png\"><img class=\"aligncenter size-large wp-image-6039\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/EURUSD-W-31052015-1024x574.png\" alt=\"EURUSD W 31052015\" width=\"1024\" height=\"574\" /></a>\r\n\r\n&nbsp;\r\n\r\nBased on the current situation, support in the EUR/USD is at 1.0920 with resistance is at 1.1060.\r\n\r\n<strong> </strong>\r\n\r\n<strong>GBP/USD: Closing Price 1.5268</strong>.\r\n\r\nThe roller coaster ride with cable continues. After the stunning Conservative electoral victory, the champagne corking is now over and reality is settling in once again.\r\n\r\nFrom the chart below it looks like we are heading for the psychological 1.5000 again. Whatever happens with GREECE will affect the GBP currency one way or another, proximity rules in this instance.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/GBPUSD-W-31052015.png\"><img class=\"aligncenter size-large wp-image-6038\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/GBPUSD-W-31052015-1024x574.png\" alt=\"GBPUSD W 31052015\" width=\"1024\" height=\"574\" /></a>\r\n\r\n&nbsp;\r\n\r\nSupport should be at 1.5200 and resistance at 1.5360.\r\n\r\n&nbsp;\r\n\r\n<strong> </strong>\r\n\r\n<strong>AUD/USD: Closing Price 0.7631</strong>.\r\n\r\nI am looking to enter short as soon as I can on a pullback. We have the RBA meeting on Tuesday. Sunday / Monday price action will determine whether I am taking the trade pre RBA or after the RBA. I am in the camp that a rate cut is on the table.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/AUDUSD-W-31052015.png\"><img class=\"aligncenter size-large wp-image-6040\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/AUDUSD-W-31052015-1024x574.png\" alt=\"AUDUSD W 31052015\" width=\"1024\" height=\"574\" /></a>\r\n\r\n&nbsp;\r\n\r\nSupport should now be at 0.7600 and resistance at 0.7690.\r\n\r\n&nbsp;\r\n\r\n<strong>NZD/USD: Closing Price 0.7086</strong>.\r\n\r\nThe NZD has become the major talking point in the world of currencies. There are so many articles written about this pair it is quite incredible. It is, as you can see on the weekly chart below, very bearish. We are below previous key support areas and a deeper drop beckons.\r\n\r\nI am looking to enter short as soon as I can achieve a credible entry level on a pullback.\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/NZDUSD-W-31052015.png\"><img class=\"aligncenter size-large wp-image-6037\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/NZDUSD-W-31052015-1024x574.png\" alt=\"NZDUSD W 31052015\" width=\"1024\" height=\"574\" /></a>\r\n\r\n&nbsp;\r\n\r\nSupport is at 0.7000 and resistance is at 0.7170.\r\n\r\n&nbsp;\r\n\r\n<strong> </strong>\r\n\r\n<strong>USD/CAD: Closing Price 1.2426.</strong>\r\n\r\nI am annoyed with myself and frustrated that I am not currently long this pair.\r\n\r\nI looked back over the past month or so and I reckon on about 40 trades missed that I wanted to be in. In writing this I fully realize that you cannot be in every trade, but some of the ones you miss niggle away. Last Friday, I cancelled a NZD/CAD short on the CAD data release at 08.30AM. The pair went just a little beyond my LIMIT ORDER entry and pulled back to end the day in what would have been a 53-pip profit, this was poor judgment on my behalf at the time.\r\n\r\nAdditional comments are contained on the chart below.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/USDCAD-W-31052015.png\"><img class=\"aligncenter size-large wp-image-6036\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/USDCAD-W-31052015-1024x574.png\" alt=\"USDCAD W 31052015\" width=\"1024\" height=\"574\" /></a>\r\n\r\nSupport should be good at 1.2350 and resistance is at 1.2540.\r\n\r\n<strong> </strong>\r\n\r\n<strong>USD/CHF: Closing Price 0.9400</strong>.\r\n\r\nMy comments for this pair are contained on the chart. I still fear GREECE fallout will affect this pair.\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/USDCHF-W-31052015.png\"><img class=\"aligncenter size-large wp-image-6035\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/USDCHF-W-31052015-1024x574.png\" alt=\"USDCHF W 31052015\" width=\"1024\" height=\"574\" /></a>\r\n\r\n&nbsp;\r\n\r\nSupport is at 0.9350 and resistance at 0.9450.\r\n\r\n&nbsp;\r\n\r\n<strong> </strong>\r\n\r\n<strong>USD/JPY: Closing Price 123.97. </strong>\r\n\r\nWow…. a nice break of about 400 pips higher in the past two weeks. I just cannot see this pair remaining at these levels for long, but it looks mighty strong, as it remains tied to the 124.00 level. I have great difficulty reading this pair at the best of times, and, right now I am struggling to fathom out, is it going higher or lower. It could just as easily pop up another 100 pips and then at the same time drop back suddenly.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/USDJPY-W-31052015.png\"><img class=\"aligncenter size-large wp-image-6034\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/USDJPY-W-31052015-1024x574.png\" alt=\"USDJPY W 31052015\" width=\"1024\" height=\"574\" /></a>\r\n\r\n&nbsp;\r\n\r\nSupport is at 123.25 and resistance at 124.50.\r\n\r\n&nbsp;\r\n<ol start=\"5\">\r\n	<li><strong><u> THE CONCLUSION - MY FINAL THOUGHTS:</u></strong></li>\r\n</ol>\r\n<u>5.1 - SUBSCRIBING TO THE “FREE VERSION” OF THE WEEKLY FX DRIVE THRU:</u>\r\n\r\nIf you like what you have almost completed reading and want to have THE WEEKLY FX DRIVE THRU delivered direct to your email inbox next week, here is what you do: -\r\n\r\nGo to my website: - <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a>\r\n\r\nOn the right hand side of the welcome page under my bio “about me” there is a blue box titled SUBSCRIBE TO FREE NEWSLETTER, click on profile and add your email address. It is as simple and straightforward as that.\r\n\r\nI do NOT sell your email data to anyone…do not worry...one less thing to worry about!\r\n\r\nIf you really like my way of explaining things…subscribe to either the PREMIUM SERVICE SILVER or GOLD by visiting my website <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a>\r\n\r\n<u>5.2 –TRADING TIPS &amp; THOUGHTS FOR THE WEEK AHEAD: </u>\r\n\r\nThe RBA, ECB and BOE are all on interest rate decisions this week.\r\n\r\nI am expecting a cut from the RBA and it is my intention to be short the AUD/USD ahead of the news with a small position to which I will add. If you are going to have open AUD positions, make sure they are within your RISK TOLERANCE guidelines.\r\n\r\nI expect very little this week from the ECB and BOE, unless with regards to the ECB a major GREECE announcement has screwed up the markets.\r\n\r\nWe also have a lot of PMI data to be released. These whilst historic in nature will give us growth indications and they could all be market movers.\r\n<p style=\"text-align: center;\"><strong>Consistency = longevity in trading and that is a critical goal.\r\nIT IS THE KEY MEASUREMENT</strong></p>\r\nBefore you enter a trade work out the risk, price it in $$$. Place your stop accordingly. PREMIUM SERVICE subscribers have a full library of information on RISK MANAGEMENT, RISK TOLERANCES and POSITION SIZING etc. available for reference 24x7.\r\n\r\n&nbsp;\r\n\r\nTake care.\r\n\r\nScott Pickering\r\nThe Pip Accumulator\r\nSunday May 31st 2015\r\n\r\nEMAIL / FOLLOW ME AT:\r\npremiumservice@weeklyfxdrivethru.com\r\nTwitter: @pipaccumulator\r\nTwitter: @ThePremService\r\nGoogle+/scottpickering\r\nTumblr: thepipaccumulator\r\n\r\n&nbsp;\r\n\r\n<u>VIEWS AND COMMENTS IN THIS BLOG:</u>\r\n\r\nAll the comments and views expressed in my blog are my thoughts and ideas only. They are based on my FUNDAMENTAL views of the markets and my thoughts on the individuals concerned on how they manage positions in the public domain. In addition, I have my own thoughts and views about what I think goes on behind closed doors. You should NOT base any trade ideas on my thoughts and views alone. As I have said on many occasions in my blog, I am a FUNDAMENTAL trader first, then a TECHNICAL trader second using chart analysis to establish what I believe to be excellent trade entry positions. However, you must make up your own mind and trade at your own risk deciding if the entry levels I refer to actually meet with your views and thoughts. This makes complete sense as the risk in trading your account is 100% owned by you.\r\n\r\n<u>THIRD PARTY COMPANIES WITH BANNERS ON MY WEBSITE:</u>\r\n\r\nThere are a small number of companies with banners on my website. In the interests of full disclosure I have a reciprocal business arrangement with these companies to promote their products. Unlike many of my competitors, I use the products and services provided by these companies. I will NOT allow any third party on my website unless I am 100% happy that they can back up their promise. By virtue of the fact, I work with these companies almost daily. I am more than confident to have them advertise on my website. Any reader who buys products or services from any advertiser via a banner on my website, <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a> will automatically have my help and assistance with any issues that they may have with my partnered advertisers.\r\n\r\n<u>TRADING &amp; PERFORMANCES DISCLAIMER:</u>\r\n\r\nFLASH, RADAR and FUNDAMENTAL trade set-ups, “Tweets” and “Trade ideas” that are posted in my blogs or on Twitter are trades and set-ups that interest me. They are provided for training and informational purposes only and should not be interpreted as an offer, solicitation or recommendation of any specific security or investment strategy. Past performance is not indicative of future results. Trading Forex carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to trade any such leveraged products you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with trading on margin, and seek advice from an independent financial adviser if you have any doubts.','','','inherit','open','closed','','6067-revision-v1','','','2015-05-30 13:42:56','2015-05-30 18:42:56','',6067,'https://weeklyfxdrivethru.com/6067-revision-v1/',0,'revision','',0),(6069,1,'2015-05-30 13:45:20','2015-05-30 18:45:20','<h3 style=\"text-align: center;\"><strong>THE PREMIUM SERVICE\r\n</strong><strong>The Home of Single-Lot Trading\r\nwww.weeklyfxdrivethru.com</strong></h3>\r\n<strong>DATE: 31.05.2015\r\nREFERENCE: #62\r\n</strong><strong>BLOG: THE PREMIUM SERVICE</strong>\r\n\r\n&nbsp;\r\n<ol>\r\n	<li><strong> INTRODUCTION – THE VIEW FROM MY TRADE DESK:</strong></li>\r\n</ol>\r\n<u>LOOKING BACKWARDS, FORWARDS &amp; SIDEWAYS (FOR GOOD MEASURE) AT THE FX MARKET:</u>\r\n\r\n<u>1.1 - LOOKING BACKWARDS:</u>\r\n\r\nGREECE:\r\n\r\nIt was a week of waiting for news of something to happen from the EUROGROUP, IMF or the ECB regarding GREECE. There were rumours from the Greek Government mainly from Varoufakis about a settlement being close and then we had counter rumours about the alleged progress from the pit bull aka Schaeuble denying all. Schaeuble is outspoken, of that there is no doubt and frankly I would believe him on the GREECE rumours.\r\n\r\nMy fear was that a Greek agreement with creditors could see a monumental spike in the EUR/USD maybe as high as 1.1200. Then as reality sets in, that the agreement is just another “can-kicking” exercise the drop from the highs, which would be my trade, should be equally as strong. How far would we drop maybe below 1.0800, who knows, but I strongly suspect this time the markets will see the “fudge” for what it is.\r\n\r\nOn the other hand, as I have written before, is the possibility of the default, hair-cut, white flag, we’re leaving the single currency and re-instating the drachma scenarios. This would see the EUR/USD heading to parity very quickly as I see a CONTAGION effect taking place very quickly that will gather momentum.\r\n\r\nSo with this news hanging over me every time I was considering a trade, I found myself deciding to remain cautious and mainly sidelined.\r\n\r\nThere is a lot of speculation that a settlement will take place over this weekend. I am in the camp of announcements on Monday, so that the EUROZONE markets whatever the outcome is can be monitored when open.\r\n\r\nLet’s see if anything unfolds in this ongoing saga of epic proportions. It could all be the “Boy who cried wolf” once again. Remember, we have been at this stage so many times before.\r\n\r\nAUSTRALIA and NEW ZEALAND:\r\n\r\nBoth of these currencies continued to drift lower against the USD. It really does look very bearish for both currencies and if as we are told the FED is going to raise interest rates this year, the Kiwi and the Aussie are looking at much lower exchange rates than the current levels. The possibility is very strong that the AUD/USD will be sub 0.7000 and the NZD/USD sub 0.6500.\r\n\r\nLast week we saw poor Private Capital Expenditure data for Australia and poor ANZ Business Confidence data for New Zealand. Both the RBA and RBNZ are on “DOVISH” paths so these currencies and their cross-rates should offer excellent trading opportunities moving forward, with some quite exceptional pip movements on offer.\r\n\r\nThe RBA meets this week and there is plenty of China data coming up that will certainly have an effect on both of these currencies over the next 5/6 days.\r\n\r\n&nbsp;\r\n\r\n<u>1.2 - LOOKING FORWARDS:</u>\r\n\r\n<u>MAJOR FOREX NEWS THIS WEEK THAT INTERESTS ME:</u>\r\n\r\n<u>(There are many more news items related to the Forex Market than the ones listed below. These are the ones that interest me. You can go to </u><a href=\"http://www.forexfactory.com\">www.forexfactory.com</a><u> and </u><a href=\"http://www.tradingeconomics.com\">www.tradingeconomics.com</a><u> for more comprehensive lists of all news events that are Forex related).</u>\r\nSUNDAY: CNY – Manufacturing PMi.\r\nSUNDAY: AUD – Building Approvals.\r\nSUNDAY: CNY – HSBC Final Manufacturing PMi.\r\n\r\nMONDAY: GBP – Manufacturing PMi.\r\nMONDAY: USD – ISM Manufacturing PMi.\r\n\r\nTUESDAY: AUD – RBA Interest Rate Statement.\r\nTUESDAY: GBP – Construction PMi.\r\nTUESDAY: NZD – Dairy Auction Prices.\r\nTUESDAY: AUD – GDP.\r\n\r\nWEDNESDAY: GBP – Services PMi.\r\nWEDNESDAY: EUR – Interest Rate Announcement and Press Conference.\r\nWEDNESDAY: USD – ADP Non-Farm Employment change and Trade Balance.\r\nWEDNESDAY: CAD – Trade Balance.\r\nWEDNESDAY: AUD – Retail Sales and Trade Balance.\r\n\r\nTHURSDAY: GBP – BOE Bank Rate.\r\nTHURSDAY: CAD – IVEY PMi.\r\n\r\nFRIDAY: USD – Non Farm Payrolls and Unemployment Rate.\r\nFRIDAY: CAD – Employment Data and Unemployment Rate.\r\n\r\n&nbsp;\r\n\r\n<u>1.3 - LOOKING SIDEWAYS (FOR GOOD MEASURE!!): </u>\r\n\r\nAs I alluded to earlier, the last week was a week when I felt we were waiting for something to happen. We had moves, which is always the bonus of trading Forex, there are nearly always opportunities, the big question as always is - can you find the opportunities and then can you actually trade them. There appears to be so many 5 minute traders in the market place at the moment, and, whilst I agree that the present market conditions certainly benefit day trading styles, if you are by nature a trader that wants to see trades try to run a little, the market is challenging.\r\n\r\nWe are, and have been for some time range bound. Yes, I will concede one or two moves have been more than a day trader’s trade but overall we have been operating in a chop fest.\r\n\r\nI find myself repeating the fact that uncertainty drives a choppy market. GREECE and the FED rate increase are the two items of uncertainty of late that have been dominating the Forex news and discussions. Until we have these matters addressed the present trading conditions will prevail.\r\n\r\n&nbsp;\r\n<ol start=\"2\">\r\n	<li><strong><u> WHAT’S ON MY MIND: -\r\nTHE FUNDAMENTAL TRADERS OVERVIEW:</u></strong></li>\r\n</ol>\r\n<h4 style=\"text-align: center;\">AS EACH WEEK PASSES MY “DUCKS” ARE LINING UP NICELY</h4>\r\nAs most regular readers of this blog will know already, I am basically a FUNDAMENTAL trader first and then as I see the technical’s come into position I am ready to trade.\r\n\r\nLet me be clear, being a FUNDAMENTAL trader suits my approach to trading perfectly, I like to think that I am a swing trader at heart but I will adapt to whatever I have to, but I do prefer a longer-term view. This year has been a nightmare for me in this regard and I have been more accommodating of shorter time framed trades. PREMIUM SERVICE subscribers can see this very clearly as I recommended more trades this year compared to 2014 and the profit per trade is lower than 2014. Although I am not, I look at myself sometimes as being a scalping trader, not that there is anything wrong with scalping it is just not my thing, well at least that is what I keep telling myself, after a 5 minute trade!!\r\n\r\nMoving on….\r\n\r\nWhilst my debate over trading style still hangs over me; every week that has passed recently has brought my macro level FUNDAMENTAL view on world economics related to Forex closer. I refer to this as my ducks lining up.\r\n\r\nAs I have written many times before correlations matter in the markets. The relationship in pricing if consistent allows greater confidence when placing trades.\r\n\r\nI have written so many times, that I believe all markets relate to the pricing of commodities first. “It is all about commodities”, was a phrase I heard years ago. It stuck with me and today, I still believe this to be the case.\r\n\r\nMy FUNDAMENTAL views moving forward are very simple.\r\n\r\nI have Forex targets below that are targets in my opinion based on the economic effects of central bank monetary policies, plus worldwide economic conditions of growth and inflation.\r\n\r\nEUR/USD – parity or below.\r\n\r\nAUD/USD – 0.7000 or below.\r\n\r\nNZD/USD – 0.6500 or below.\r\n\r\nUSD/CAD – 1.3000 or above.\r\n\r\nUSD/CHF – parity and above.\r\n\r\nHow did I arrive at these objectives, and what specific events are my “DUCKS”??\r\n\r\nFirstly, central banks around the world are dealing with different local economic conditions and have also reacted differently to the effects of the 2008-9 crash. Each central bank obviously has its own monetary policy, but now we have a clear divergence. The FED and maybe to a lesser extent the BOE are hawkish wanting to raise interest rates and the rest are more or less dovish. They need to remain accommodative and market supporting.\r\n\r\nThis divergence fuels my currency exchange rate targets above. Let me just make a few very brief comments about each central bank below.\r\n\r\nFED: – The FED is going to raise interest rates. It would have a severe lack of market credibility should it not carry out FED policy. As the FED is directly opposite to ECB policy and with the EUR currency accounting for in excess of 50% of the DXY calculations, the effect of the move in the EUR/USD should be dramatic. Given the recent DXY move from 80.00 to 100.00, using the drop in the EUR/USD as my guide, I see a similar move again if the FED increases rates and the measured move in the DXY could extend to 115.00 as seen in the chart below. This move would in my opinion place the EUR/USD below or around parity at best.\r\n\r\nFor years there has not been a HAWKISH FED policy, make no mistake the FED in one direction and the ECB in the other will create a big move. Divergent Central Policies are big movers in currencies.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/DXY-RE-DUCKS-SEGMENT-31052015.png\"><img class=\"aligncenter size-large wp-image-6066\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/DXY-RE-DUCKS-SEGMENT-31052015-1024x464.png\" alt=\"DXY RE DUCKS SEGMENT 31052015\" width=\"1024\" height=\"464\" /></a>\r\n\r\n&nbsp;\r\n\r\nBOC: – We saw recently one surprise rate cut from Stephen Poloz, the BOC governor that was supposed to be a one off. But recent Canadian data is poor and, in my opinion, I can see another cut to try and stimulate matters.\r\n\r\nRBA: – Definitely bearish and with Iron Ore prices struggling, general business confidence low and the RBA having openly stated that they want an exchange rate with the AUD/USD closer to 0.7000 or below.\r\n\r\nRBNZ: – The official line is that the RBNZ has gone neutral but the fact that they have indicated no rate hikes when the market was expecting about 2/3 more this year, is bearish and dovish to me. Even the Prime Minister of New Zealand, John Key has said publicly that he wants the NZD/USD exchange rate targeted at 0.6500. When he first said this figure, I thought he was dreaming. The RBNZ has in the past year or so directly intervened in the Forex markets, so his target level is possible, in fact the NZD is so weak at the moment we may go lower.\r\n\r\nTHE ECB – Full on Quantitative Easing (QE) in place for at least another year or so, the EUR being the second most traded currency after the USD means that with the FED and ECB being on divergent central bank monetary policies, the EUR/USD target of parity is not unrealistic and neither is the DXY target of 115.00.\r\n\r\nGBP: – Of late the UK has produced very mixed data, but the next interest rate move will be upwards and not lower. Mark Carney, BOE governor has indicated such a move. Do you believe him? The markets do.\r\n\r\nBOJ: – The Japanese have just announced that they are easing no more. This will be interesting to see if this remains BOJ policy or not.\r\n\r\nSNB: – The exchange rate of the EUR/CHF must be causing concern as it falls closer to parity. The fact that the FED is about to raise rates coupled with the ECB being 100% accommodative, the SNB have sat back, so far, not intervening, but for how long?\r\n\r\n&nbsp;\r\n\r\nIt is a mixed bag but all the above added together is weighted in favour of USD strength, this supports my longer-term FUNDAMENTAL views and my FX targets.\r\n\r\nTherefore DUCK #1 is central bank divergence actually starting to bring home the bacon. This is my major DUCK; it is inline just waiting on the FED to kick-start. Already, we have witnessed dovish central bank economies linked to commodities already weakening (AUD, CAD, NZD). Fed policy will just beat them up some more!\r\n\r\nIn addition to central bank policies my currency objectives are also based around the price action with commodities.\r\n\r\nThere is a slowdown in China. This is now confirmed DUCK #2. This is critical to the economies supplying raw materials to China, mainly New Zealand and Australia.\r\n\r\nThe American households are not buying finished goods in numbers to show growth is leaping forward. Confidence is mixed. Housing in the U.S. is very regionalized, but overall not as many sales therefore not as many home improvements, which then means not as many raw material purchases either, contractors not as busy as they could be. Basically, I am saying that commodities are not being sought in the quantities or prices that the exporters require. It is a vicious circle that just rotates day after day, but these segments of the circle are key to my FUNDAMENTAL views and represent another DUCK (#3), that is in place.\r\n\r\nDUCKS #4, #5 and #6 are GOLD, OIL and COPPER are key charts for me to give my ideas confirmation and direction. Of late we have all witnessed how much the price of a barrel of WTi crude can affect both equities and forex. Generally speaking GOLD is struggling in a zero interest rate environment to get above $1,200.00. OIL is looking like it is heading back towards $50.00 and COPPER is below what I thought would never be breached at $3.00. All of these moves are USD supportive.\r\n\r\nSo I am happy, the ducks are starting to line up. It has taken more time than I thought for this to happen. I would like equities to pullback “DUCK #7” as this will add pressure to AUD and NZD shorts. However, the slowdown, the Central banks and Commodity currencies are almost in place.\r\n\r\nI just need the FED to kick start the big move. Will they move before the summer doldrums? I had a lot of hope initially that this would be the case, but now I am wondering will they delay any move on rates until September / October. One school of thought is that the best economic data quarter for the U.S. is Q4. So if the FED moves in Q3 by the time the rate effect rolls through into Q4 the economy will cope more than adequately.\r\n\r\nSo, some of my ducks are lined up and others are lining up, I just need the FED to complete the line.\r\n\r\nI am however, able to start getting trades placed now and place my longer-term FUNDAMENTAL view in action.\r\n\r\nFrom a trading detailed perspective, I will be setting up longer-term trades as FUNDAMENTAL trades and in addition I will be taking intra-day trades as RADAR or FLASH trades as well. It should be fun and hopefully profitable over the longer-term.\r\n\r\n<strong> </strong>\r\n<ol start=\"3\">\r\n	<li><strong><u> THE PREMIUM SERVICE:\r\n</u></strong>(All items in this section  are available inside the web site after logging into the PREMIUM SERVICE).</li>\r\n</ol>\r\n&nbsp;\r\n\r\n<u>3.2 – PERFORMANCE REVIEWS:</u>\r\n\r\n<u>3.2.1 – PREMIUM SERVICE – COST INCOME ANALYSIS (USD):\r\n</u>\r\n\r\n<u>3.2.2 – RADAR TRADE SUMMARY – May 2015:</u>\r\n\r\n&nbsp;\r\n\r\n<u>3.2.3 – RADAR TRADE SUMMARY - 2015 YTD:</u>\r\n\r\n<u>3.2.4 – FLASH TRADE SUMMARY – May 2015:</u>\r\n\r\n<u>3.2.5 – FLASH TRADE SUMMARY - 2015 YTD:</u>\r\n\r\n<u>3.2.6 – FUNDAMENTAL TRADE SUMMARY – May 2015:</u>\r\n\r\n<u>3.2.7 – FUNDAMENTAL TRADE SUMMARY - 2015 YTD:</u>\r\n\r\n<u>3.2.8 – RISK / REWARD ANALYSIS – 2015 YTD:</u>\r\n\r\n<u>3.2.9 – PROFIT LOSS RATIOS – 2015 YTD:</u>\r\n\r\n<u>3.2.10 – PIP PERFORMANCE COMPARISON 2015 versus 2014:</u>\r\n\r\n<u>3.2.11 - PREMIUM SERVICE - OVERALL TRADE SUMMARY MONTH &amp; YTD:</u>\r\n\r\n<u>3.2.12 – MY THOUGHTS / COMMENTS:</u>\r\n\r\n&nbsp;\r\n<ol start=\"4\">\r\n	<li><strong><u> PREMIUM SERVICE SUBSCRIBER EXCLUSIVE CONTENT:</u></strong></li>\r\n</ol>\r\n(Section 4 is exclusive PREMIUM SERVICE content only available to PREMIUM SERVICE subscribers)\r\n\r\n<u>4.1 - EDUCATION:\r\n</u>(The full list of all items and more from this section can be found in the PREMIUM SERVICE website in the Trade Essential area under the EDUCATION tab.\r\n\r\nThis section will return soon. At the moment this section of the website is under review and I do not want to add more work until the final look is agreed.\r\n\r\nFor now bear with me. Whilst it is sometimes difficult to have topics, I have a few in the can as they say.\r\n\r\n&nbsp;\r\n\r\n<u>4.2 – THE PREMIUM SERVICE – TRADING REVIEW &amp; LOOKING FORWARD:</u>\r\n\r\nIt was a shortened week last week (Holiday Monday) and on Friday I did not trade other than to scalp.\r\n\r\nAs I stated earlier it was a week of lower volume trades and I might add profitable trades. My general feedback from subscribers was that after being whacked recently this week gave us opportunities to claw back some of the previous week’s losses.\r\n\r\nI have made the decision to FUNDAMENTALLY trade the EUR/USD, AUD/USD, NZD/USD, USD/CAD and USD/CHF towards my longer term targets, as well as looking at the cross-rates. Of late I have been hesitant because of GREECE to over commit. I believe the FED will raise rates, so I am waiting on GREECE to be resolved then the trades will drop into position.\r\n\r\nAs subscribers you will have the option of multiple trades, or to just trade the FUNDAMENTAL trades. I will be very active on twitter and email with these alerts as they fall into position.\r\n\r\nThe only downside is that this process will be started just before the summer slow trading season. However, I do believe that we will have directional momentum trading more than not as time progresses.\r\n\r\nIt is the end of another month and the PREMIUM SERVICE and $$$ continue to roll in; I am hoping that 2015 will surpass the performance of 2014. I have to admit that after the CHF PEG and the ensuing squeezes that cut me up, I did not think that the pip volumes would come back so strong. Single-Lot trades, or consistent lot size trades work!\r\n\r\n<u>MAY and YTD 2015 - PERFORMANCE REVIEWED:</u>\r\n\r\nThere is no doubt that this has been a strange trading year so far for Forex Traders. Personally, I have found the numbers of squeezes in the market this year in compared to my previous 7/8 years of trading to be probably the highest. I do not consider myself to be a day trader, although, I am admitting to day trading traits. I trade smaller position sizes, I am in and out of trades faster, and I hardly let trades run for longer than I feel I have to. I have given thousands of dollars back to my brokers this year by trying to let trades run and not bank $$$.\r\n\r\nI have adapted my trading. This can be further seen in the fact that I have more FLASH TRADES, than RADAR and FUNDAMENTAL TRADES added together. I am trading the market more on pullbacks, than anything else.\r\n\r\nIn 2014 the PREMIUM SERVICE had a total of 512 LIVE trades. This year so far there has been 376 so far, 73% of last years total in the first 5 months. That says something.\r\n\r\nMy profit per trade using MINI lots in 2014 was over $21.00. This year so far just over $14.00. More trades less running time.\r\n\r\nYet, at this stage in 2014, the PREMIUM SERVICE had generated 3,872 pips. This year 5,342 pips, that is 1,470 pips more this year than last year in the first 5 months.\r\n\r\nI can analyze and over analyze these statistics, and I will do this over the next few days. The bottom line though is that it is all good news…. long may it continue.\r\n\r\n&nbsp;\r\n\r\n<u>4.3 - THE PREMIUM SERVICE - EXISTING LIVE TRADES:</u>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/PS-LIVE-TRADES-31052015.png\"><img class=\"aligncenter size-full wp-image-6049\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/PS-LIVE-TRADES-31052015.png\" alt=\"PS LIVE TRADES 31052015\" width=\"724\" height=\"578\" /></a>\r\n\r\n&nbsp;\r\n\r\n<u>4.4 - THE PREMIUM SERVICE – EXISTING LIMIT ORDERS:</u>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/PS-LIMIT-ORDERS-31052015.png\"><img class=\"aligncenter size-full wp-image-6048\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/PS-LIMIT-ORDERS-31052015.png\" alt=\"PS LIMIT ORDERS 31052015\" width=\"706\" height=\"445\" /></a>\r\n\r\n&nbsp;\r\n\r\n<u>PLEASE NOTE:</u>\r\n\r\nRemember position sizes for suggested FUNDAMENTAL TRADES should be much smaller than usual, maybe only 20%-25% of your normal trading position size. It is only when we add to our positions that the fun begins. All FUNDAMENTAL trades posted via email contain a second page with details of where I will add trades and when and where stops are moved, the Stair Stepping Stop Protection (SSSP) is self-explanatory and I hope useful. Using this grows your trading position and helps protect the profits made, should the trade gain traction. In addition, I have added some detail on my HEDGING approach as well to the second FUNDAMENTAL TRADE alert page. More detailed information on HEDGING can be found inside the PREMIUM SERVICE website under the EDUCATION tab – Trading Essentials.\r\n\r\nI view the commodity cross-rate pairs, which form the basis of my FUNDAMENTAL TRADE SET-UPS as bonus trades away from the USD majors and over the year they can be very profitable. This is why I have a separate broker account for commodity cross-RATE PAIR trades. It gives me an immediate measurement of performance without the need to extrapolate data.\r\n\r\n<u>4.5 - POTENTIAL TRADES - WHAT CHARTS AM I LOOKING AT?</u>\r\n\r\n(This section usually contains charts mainly relating to non-USD majors, in particular the ones that I am working on and looking at because they catch my eye that may become potential trades in the trading sessions ahead. If there are no comments beneath the charts, my comments / thoughts are written on them directly. I will tweet and email as soon as these possible trades become LIMIT ORDERS)\r\n\r\n<u>THIS WEEKS OVERVIEW:</u>\r\n\r\nI did not get the entry opportunities that I wanted from the CHF pairs that I highlighted last week. They are still in focus and on my RADAR together with some other old favourites. My comments / thoughts / views are contained on the charts.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/AUDCAD-D-31052015.png\"><img class=\"aligncenter size-large wp-image-6065\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/AUDCAD-D-31052015-1024x574.png\" alt=\"AUDCAD D 31052015\" width=\"1024\" height=\"574\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/AUDCHF-W-31052015.png\"><img class=\"aligncenter size-large wp-image-6064\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/AUDCHF-W-31052015-1024x574.png\" alt=\"AUDCHF W 31052015\" width=\"1024\" height=\"574\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/EURCAD-D-31052015.png\"><img class=\"aligncenter size-large wp-image-6063\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/EURCAD-D-31052015-1024x574.png\" alt=\"EURCAD D 31052015\" width=\"1024\" height=\"574\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/EURGBP-D-31052015.png\"><img class=\"aligncenter size-large wp-image-6062\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/EURGBP-D-31052015-1024x574.png\" alt=\"EURGBP D 31052015\" width=\"1024\" height=\"574\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/EURNZD-M-31052015.png\"><img class=\"aligncenter size-large wp-image-6061\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/EURNZD-M-31052015-1024x574.png\" alt=\"EURNZD M 31052015\" width=\"1024\" height=\"574\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/GBPAUD-240M-31052015.png\"><img class=\"aligncenter size-large wp-image-6060\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/GBPAUD-240M-31052015-1024x574.png\" alt=\"GBPAUD 240M 31052015\" width=\"1024\" height=\"574\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/GBPNZD-M-31052015.png\"><img class=\"aligncenter size-large wp-image-6059\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/GBPNZD-M-31052015-1024x574.png\" alt=\"GBPNZD M 31052015\" width=\"1024\" height=\"574\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/NZDCAD-D-31052015.png\"><img class=\"aligncenter size-large wp-image-6058\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/NZDCAD-D-31052015-1024x574.png\" alt=\"NZDCAD D 31052015\" width=\"1024\" height=\"574\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/NZDCHF-W-31052015.png\"><img class=\"aligncenter size-large wp-image-6057\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/NZDCHF-W-31052015-1024x574.png\" alt=\"NZDCHF W 31052015\" width=\"1024\" height=\"574\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n<u>4.6 - MAJOR TRADING PAIRS WITH LONGER-TERM TRENDS MATCHING:</u>\r\n\r\nThe 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/2015/05/PS-TRENDING-PAIRS-31052015.png\"><img class=\"aligncenter size-full wp-image-6053\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/PS-TRENDING-PAIRS-31052015.png\" alt=\"PS TRENDING PAIRS 31052015\" width=\"395\" height=\"512\" /></a>\r\n\r\n&nbsp;\r\n\r\n<u>4.7 - THE KEY SUPPORT &amp; RESISTANCE LEVELS WITH THE USD MAJORS</u><strong><u>:\r\n</u></strong>(The reviews in the section are accompanied with weekly charts of the USD majors)\r\n\r\n<strong>EUR/USD: Closing Price 1.0984</strong>\r\n\r\nIt has been quite a move lower in the past 7 days. The EUR/USD dived lower and then pulled back. We ended the week with a HAMMER candle. This indicates an upside move.\r\n\r\nPersonally, the higher it goes the better, as far as I am concerned for this pair. My objectives on what I want to do moving forward are clear. On the back of the GREECE settlement should that be the outcome, I fully expect that this pair will move higher and then after the move and the realization that maybe this is another can kicking exercise I expect a fall lower. When it tops, this is my area to short from, I am hoping 1.1200 will be achieved.\r\n\r\nI have further thoughts on the chart below.\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/EURUSD-W-31052015.png\"><img class=\"aligncenter size-large wp-image-6039\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/EURUSD-W-31052015-1024x574.png\" alt=\"EURUSD W 31052015\" width=\"1024\" height=\"574\" /></a>\r\n\r\n&nbsp;\r\n\r\nBased on the current situation, support in the EUR/USD is at 1.0920 with resistance is at 1.1060.\r\n\r\n<strong> </strong>\r\n\r\n<strong>GBP/USD: Closing Price 1.5268</strong>.\r\n\r\nThe roller coaster ride with cable continues. After the stunning Conservative electoral victory, the champagne corking is now over and reality is settling in once again.\r\n\r\nFrom the chart below it looks like we are heading for the psychological 1.5000 again. Whatever happens with GREECE will affect the GBP currency one way or another, proximity rules in this instance.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/GBPUSD-W-31052015.png\"><img class=\"aligncenter size-large wp-image-6038\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/GBPUSD-W-31052015-1024x574.png\" alt=\"GBPUSD W 31052015\" width=\"1024\" height=\"574\" /></a>\r\n\r\n&nbsp;\r\n\r\nSupport should be at 1.5200 and resistance at 1.5360.\r\n\r\n&nbsp;\r\n\r\n<strong> </strong>\r\n\r\n<strong>AUD/USD: Closing Price 0.7631</strong>.\r\n\r\nI am looking to enter short as soon as I can on a pullback. We have the RBA meeting on Tuesday. Sunday / Monday price action will determine whether I am taking the trade pre RBA or after the RBA. I am in the camp that a rate cut is on the table.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/AUDUSD-W-31052015.png\"><img class=\"aligncenter size-large wp-image-6040\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/AUDUSD-W-31052015-1024x574.png\" alt=\"AUDUSD W 31052015\" width=\"1024\" height=\"574\" /></a>\r\n\r\n&nbsp;\r\n\r\nSupport should now be at 0.7600 and resistance at 0.7690.\r\n\r\n&nbsp;\r\n\r\n<strong>NZD/USD: Closing Price 0.7086</strong>.\r\n\r\nThe NZD has become the major talking point in the world of currencies. There are so many articles written about this pair it is quite incredible. It is, as you can see on the weekly chart below, very bearish. We are below previous key support areas and a deeper drop beckons.\r\n\r\nI am looking to enter short as soon as I can achieve a credible entry level on a pullback.\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/NZDUSD-W-31052015.png\"><img class=\"aligncenter size-large wp-image-6037\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/NZDUSD-W-31052015-1024x574.png\" alt=\"NZDUSD W 31052015\" width=\"1024\" height=\"574\" /></a>\r\n\r\n&nbsp;\r\n\r\nSupport is at 0.7000 and resistance is at 0.7170.\r\n\r\n&nbsp;\r\n\r\n<strong> </strong>\r\n\r\n<strong>USD/CAD: Closing Price 1.2426.</strong>\r\n\r\nI am annoyed with myself and frustrated that I am not currently long this pair.\r\n\r\nI looked back over the past month or so and I reckon on about 40 trades missed that I wanted to be in. In writing this I fully realize that you cannot be in every trade, but some of the ones you miss niggle away. Last Friday, I cancelled a NZD/CAD short on the CAD data release at 08.30AM. The pair went just a little beyond my LIMIT ORDER entry and pulled back to end the day in what would have been a 53-pip profit, this was poor judgment on my behalf at the time.\r\n\r\nAdditional comments are contained on the chart below.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/USDCAD-W-31052015.png\"><img class=\"aligncenter size-large wp-image-6036\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/USDCAD-W-31052015-1024x574.png\" alt=\"USDCAD W 31052015\" width=\"1024\" height=\"574\" /></a>\r\n\r\nSupport should be good at 1.2350 and resistance is at 1.2540.\r\n\r\n<strong> </strong>\r\n\r\n<strong>USD/CHF: Closing Price 0.9400</strong>.\r\n\r\nMy comments for this pair are contained on the chart. I still fear GREECE fallout will affect this pair.\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/USDCHF-W-31052015.png\"><img class=\"aligncenter size-large wp-image-6035\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/USDCHF-W-31052015-1024x574.png\" alt=\"USDCHF W 31052015\" width=\"1024\" height=\"574\" /></a>\r\n\r\n&nbsp;\r\n\r\nSupport is at 0.9350 and resistance at 0.9450.\r\n\r\n&nbsp;\r\n\r\n<strong> </strong>\r\n\r\n<strong>USD/JPY: Closing Price 123.97. </strong>\r\n\r\nWow…. a nice break of about 400 pips higher in the past two weeks. I just cannot see this pair remaining at these levels for long, but it looks mighty strong, as it remains tied to the 124.00 level. I have great difficulty reading this pair at the best of times, and, right now I am struggling to fathom out, is it going higher or lower. It could just as easily pop up another 100 pips and then at the same time drop back suddenly.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/USDJPY-W-31052015.png\"><img class=\"aligncenter size-large wp-image-6034\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/USDJPY-W-31052015-1024x574.png\" alt=\"USDJPY W 31052015\" width=\"1024\" height=\"574\" /></a>\r\n\r\n&nbsp;\r\n\r\nSupport is at 123.25 and resistance at 124.50.\r\n\r\n&nbsp;\r\n<ol start=\"5\">\r\n	<li><strong><u> THE CONCLUSION - MY FINAL THOUGHTS:</u></strong></li>\r\n</ol>\r\n<u>5.1 - SUBSCRIBING TO THE “FREE VERSION” OF THE WEEKLY FX DRIVE THRU:</u>\r\n\r\nIf you like what you have almost completed reading and want to have THE WEEKLY FX DRIVE THRU delivered direct to your email inbox next week, here is what you do: -\r\n\r\nGo to my website: - <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a>\r\n\r\nOn the right hand side of the welcome page under my bio “about me” there is a blue box titled SUBSCRIBE TO FREE NEWSLETTER, click on profile and add your email address. It is as simple and straightforward as that.\r\n\r\nI do NOT sell your email data to anyone…do not worry...one less thing to worry about!\r\n\r\nIf you really like my way of explaining things…subscribe to either the PREMIUM SERVICE SILVER or GOLD by visiting my website <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a>\r\n\r\n<u>5.2 –TRADING TIPS &amp; THOUGHTS FOR THE WEEK AHEAD: </u>\r\n\r\nThe RBA, ECB and BOE are all on interest rate decisions this week.\r\n\r\nI am expecting a cut from the RBA and it is my intention to be short the AUD/USD ahead of the news with a small position to which I will add. If you are going to have open AUD positions, make sure they are within your RISK TOLERANCE guidelines.\r\n\r\nI expect very little this week from the ECB and BOE, unless with regards to the ECB a major GREECE announcement has screwed up the markets.\r\n\r\nWe also have a lot of PMI data to be released. These whilst historic in nature will give us growth indications and they could all be market movers.\r\n<p style=\"text-align: center;\"><strong>Consistency = longevity in trading and that is a critical goal.\r\nIT IS THE KEY MEASUREMENT</strong></p>\r\nBefore you enter a trade work out the risk, price it in $$$. Place your stop accordingly. PREMIUM SERVICE subscribers have a full library of information on RISK MANAGEMENT, RISK TOLERANCES and POSITION SIZING etc. available for reference 24x7.\r\n\r\n&nbsp;\r\n\r\nTake care.\r\n\r\nScott Pickering\r\nThe Pip Accumulator\r\nSunday May 31st 2015\r\n\r\nEMAIL / FOLLOW ME AT:\r\npremiumservice@weeklyfxdrivethru.com\r\nTwitter: @pipaccumulator\r\nTwitter: @ThePremService\r\nGoogle+/scottpickering\r\nTumblr: thepipaccumulator\r\n\r\n&nbsp;\r\n\r\n<u>VIEWS AND COMMENTS IN THIS BLOG:</u>\r\n\r\nAll the comments and views expressed in my blog are my thoughts and ideas only. They are based on my FUNDAMENTAL views of the markets and my thoughts on the individuals concerned on how they manage positions in the public domain. In addition, I have my own thoughts and views about what I think goes on behind closed doors. You should NOT base any trade ideas on my thoughts and views alone. As I have said on many occasions in my blog, I am a FUNDAMENTAL trader first, then a TECHNICAL trader second using chart analysis to establish what I believe to be excellent trade entry positions. However, you must make up your own mind and trade at your own risk deciding if the entry levels I refer to actually meet with your views and thoughts. This makes complete sense as the risk in trading your account is 100% owned by you.\r\n\r\n<u>THIRD PARTY COMPANIES WITH BANNERS ON MY WEBSITE:</u>\r\n\r\nThere are a small number of companies with banners on my website. In the interests of full disclosure I have a reciprocal business arrangement with these companies to promote their products. Unlike many of my competitors, I use the products and services provided by these companies. I will NOT allow any third party on my website unless I am 100% happy that they can back up their promise. By virtue of the fact, I work with these companies almost daily. I am more than confident to have them advertise on my website. Any reader who buys products or services from any advertiser via a banner on my website, <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a> will automatically have my help and assistance with any issues that they may have with my partnered advertisers.\r\n\r\n<u>TRADING &amp; PERFORMANCES DISCLAIMER:</u>\r\n\r\nFLASH, RADAR and FUNDAMENTAL trade set-ups, “Tweets” and “Trade ideas” that are posted in my blogs or on Twitter are trades and set-ups that interest me. They are provided for training and informational purposes only and should not be interpreted as an offer, solicitation or recommendation of any specific security or investment strategy. Past performance is not indicative of future results. Trading Forex carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to trade any such leveraged products you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with trading on margin, and seek advice from an independent financial adviser if you have any doubts.','AS EACH WEEK PASSES MY “DUCKS” ARE LINING UP NICELY','','inherit','open','closed','','6067-revision-v1','','','2015-05-30 13:45:20','2015-05-30 18:45:20','',6067,'https://weeklyfxdrivethru.com/6067-revision-v1/',0,'revision','',0),(6075,1,'2015-05-30 14:13:34','2015-05-30 19:13:34','<section class=\"one-sixth first\">\r\n<h4>Completed Trades Risk/Reward Analysis Archives</h4>\r\n<div class=\"menu\"><a class=\"flashmenu-item\" href=\"#\">2015</a></div>\r\n</section><section class=\"five-sixths\">\r\n<div class=\"one-half first\">\r\n<h2>This Year\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/PS-RISK-REWARD-31052015.png\"><img class=\"aligncenter size-full wp-image-6052\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/05/PS-RISK-REWARD-31052015.png\" alt=\"PS RISK-REWARD 31052015\" width=\"428\" height=\"542\" /></a></h2>\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n</div>\r\n<div class=\"one-half\">\r\n<h2>PREVIOUS YEARS</h2>\r\n<h2><a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/12/PREM-SERV-RISK-REWARD-31122014-YTD.png\"><img class=\"aligncenter size-full wp-image-4964\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/12/PREM-SERV-RISK-REWARD-31122014-YTD.png\" alt=\"PREM SERV RISK-REWARD 31122014 YTD\" width=\"436\" height=\"543\" /></a></h2>\r\n</div>\r\n</section>','COMPLETED TRADES RISK / REWARD ANALYSIS','','inherit','open','closed','','5006-revision-v1','','','2015-05-30 14:13:34','2015-05-30 19:13:34','',5006,'https://weeklyfxdrivethru.com/5006-revision-v1/',0,'revision','',0),