(6184,1,'2015-06-20 11:53:24','2015-06-20 16:53:24','<h3 style=\"text-align: center;\"><strong>THE PREMIUM SERVICE\r\n</strong><strong>The Home of Single-Lot Trading\r\nwww.weeklyfxdrivethru.co</strong></h3>\r\n<strong>DATE: 21.06.2015\r\nREFERENCE: #65\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\n1.1.1 - OVERVIEW:\r\n\r\nI felt like I was not really working last week. I only opened and closed 6 trades all week. 5 were positive trades the other lost money, the next result was more pips added to the PREMIUM SERVICE account plus the other accounts I manage.\r\n\r\nOne should never complain about adding pips on a weekly basis, as it is money in and not out of your broker account. However, like I said in the blog last week, I feel in a similar position to a death row prisoner in the sense that you know something is going to happen but you are just sitting back waiting for the inevitable. In my case, not death but the conclusion (maybe just for now) of the ongoing GREECE fiasco.\r\n\r\nHopefully to be proved correct, I see this as a major volatility news event and I do not want 10-15 trades in play as the news of whatever it is going to be hits the newswires, plus prior to the news breaking, we have to remember we are dealing with the EUROZONE; the home of the misleading sound byte, quote and the originator of the buy the rumour sell the news reaction. These latter reasons are why I am really not participating in the markets at the moment and I am being ultra selective on entry levels and pairs to trade.\r\n\r\nAll the above being said…nothing has changed from last week apart from the FOMC. This I will tackle next.\r\n\r\n&nbsp;\r\n\r\n1.1.2 – FOMC:\r\n\r\nWhat can I say?\r\n\r\nThe time I thought that leadership from the FOMC would come through, all I saw was the same old same old. I am now in the camp of the FED does NOT believe the credibility or the accuracy of the statistics produced. This data dependent stance has just rolled on far too long in my opinion and quite honestly the whole scenario is quickly turning into a “West-end” (London Theatre land) stage farce.\r\n\r\nIs the FOMC even afraid to raise rates by even 0.10%? Is the U.S. economy that fragile?\r\n\r\nI am finding the Janet Yellen dovish approach so behind the curve the FED is in danger of looking like bigger “numpties” than their counter-parts at the ECB, and for me to say that is huge!\r\n\r\nI think with Yellen and her committee we have in the FOMC a collection of ditherers. The only possible reason that I think that the FOMC is holding back on the rate increase is because they want to try to set up a positive final quarter of the year by increasing rates in Q4 (September / October) at a time when the U.S. economy is more robust. If this is not the reason we do have a collection of ditherers in my opinion.\r\n\r\n&nbsp;\r\n\r\n1.1.2 – GREECE:\r\n\r\nI have to mention GREECE. However, like many people who write articles or blogs I am running out of fresh things to say.\r\n\r\nThe one snippet of news that I did pick up on was the comment about the GREEK banks not opening on Monday 22<sup>nd</sup> June. It was very quickly denied. There is no doubt that banks have been seeing cash being moved away from GREECE in the millions (the smart money left months ago) and as I have stated very clearly for months, the first step before the default are CAPITAL CONTROLS, I believe we are almost there.\r\n\r\nThe rhetoric is high on emotion now. This exasperated position will only get worse. Remember, we are dealing with politicians who need their egos cuddled on a regular basis. They are NOT problem solvers; politicians like to blame other politicians. They do NOT accept responsibility for anything.\r\n\r\nTo be a politician in most countries around the world gets the membership of a society similar to the FREEMASONS, but instead of the secret handshake, politicians are stripped naked (not a pretty sight) and coated, or as they would say anointed in Teflon.\r\n\r\nWith this in mind watch for the blame game to start. Be aware when this starts we will know that there is no solution, good or half-assed, not even a can-kicking solution, we will have a default.\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n<u>1.2 - LOOKING FORWARDS:</u>\r\n\r\n<u>1.2.1 - 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: CNY – HSBC Flash Manufacturing PMi.\r\n\r\nTUESDAY: N/A.\r\n\r\nWEDNESDAY: USD – GDP.\r\n\r\nTHURSDAY: NZD – Trade Balance.\r\n\r\nFRIDAY: N/A.\r\n\r\n&nbsp;\r\n\r\n1.2.2 – MY THOUGHTS ON THE NEWS ITEMS THIS COMING WEEK:\r\n\r\nNo much at all interests me with regards to news events this coming week. I expect to have NZD related trades in play so the direct NZD Trade balance data will be of interest plus China data, which directly affects the Kiwi.\r\n\r\nThe only other addition is U.S. GDP for the quarter. It should be a market mover on the basis it may influence the FOMC but with a data dependent scenario in play I strongly suspect Yellen and co will want another quarters result as well.\r\n\r\nTherefore as Forex traders we will be held to ransom by equities and of course GREECE.\r\n\r\n&nbsp;\r\n\r\n<u>1.3 - LOOKING SIDEWAYS (FOR GOOD MEASURE): </u>\r\n\r\nAnother week of gardening leave completed (this is what it feels like) and I have had a lot of time to review my FUNDAMENTAL STRATEGIES moving forward amongst many other related subjects.\r\n\r\nThe FOMC really caught me off guard with regards to their dithering last week over rate hikes. Sure, when you play “join the dots” (with their economic projections) it all looks rosy for a rate hike this year, possibly even two, but when you go into 2016 and 2017, the FOMC are not as confident of further rate increases. This has me a little perplexed.\r\n\r\nI still believe that central bank divergences will come to the forefront and dictate / guide / give the Forex markets some momentum moves looking ahead, but the FOMC dots still give me cause to note. The bottom line is however that the FED is going one way possibly with the UK being hawkish with them, and, the rest of the major central banks are going the other way, accommodative and dovish.\r\n\r\nI am still in the camp that believes supply and demand will win the day when it comes to oil pricing. Maybe the highly speculative market players are taking the summer months when demand is higher to try and squeeze every last drop of greed out of the commodity. Basic economics has to come to the forefront here, supply is well over demand and to balance this out there just has to be a mathematical price adjustment. If there isn’t, my old Economics master from my schooldays will be turning in his grave (I am assuming he is long passed on by now).\r\n\r\nWith these factors in mind my trades are still in play, I just now need to achieve the entry levels I want once GREECE is out of the way.\r\n\r\nLast week I placed my first ARMEGEDDON “Golden” TRADE, which was annotated for my subscribers, and this week I have my second one ready.\r\n\r\nI have spoken with a couple of subscribers over the past few days and in addition to my caution of over-trading it does appear that this is the consensus view on moving forward for many traders at the moment.\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;\"><strong>THE EMPIRE STRIKES BACK</strong></h3>\r\nFor all you Star Wars geeks out there, I am not referring to any movie involving the expertise of George Lucas, and I am NOT referring to characters portrayed in the movies.\r\n\r\nI am referring to good old “blighty”…the UK or from an FX perspective the GBP (Cable).\r\n\r\nCable is on the move, and as most regular readers will confirm, I hate trading the GBP, however, in all honesty I would like to narrow that statement to just the GBP/USD and GBP/JPY. The rest of the GBP related pairs I like trading, my favourite trading pair is by the way the EUR/GBP.\r\n\r\nThe GBP is on the move, this month there have been spectacular moves across the spectrum of GBP related pairs, and thousands of pips of moves have been seen.\r\n\r\nHere is the big question…why is cable on a tear and what trading opportunities are still available, if any, and what are the risks involved over and above the usual day to day risks in trading Forex?\r\n\r\nI intend not to ramble on here about economics, I covered economics for long enough in my younger years, I found it interesting, many did not, it can be boring I admit. I am now a trader I will focus more on the FX opportunities; however, we need to understand just briefly why the UK is in good shape.\r\n\r\nFrom the beginning, the UK’s biggest trading partner is the EUROZONE, but the UK is more of a services economy and a production / industrial economy. The UK does manufacture, it does produce finished goods, but it is a world hub for Finance and Insurance. Here lies a huge benefit over its closest trading partner. The EUROZONE is more of an industrial producer/ exporter.\r\n\r\nThe service sector generally will always stay more consistent than manufacturing, which has swings associated with it as peoples purchasing can be seasonal.\r\n\r\nIn addition, the UK took Quantitative Easing (QE) steps to support its economy immediately during the Financial Crash of 2008-09 as well as austerity measures, and the two economies that took the QE route from the get go, the U.S. and the UK are the stronger economies now looking to raise rates rather than say the EUROZONE whose initial approach for 7 years was to drive the spike of austerity through the heart of EUROPE and it really failed. Now they are just into the QE route, in my opinion at least 2/3 years behind and chasing as fast as it can given its issues.\r\n\r\nLooking at some economic data, I have provided at a very high level some interesting comparisons looking at the UK versus the Euro Area in general and individual EUROZONE members and there are some interesting comparisons.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/UK-EZ-FIN-COMPARISONS-21062015.png\"><img class=\"aligncenter size-full wp-image-6154\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/UK-EZ-FIN-COMPARISONS-21062015.png\" alt=\"UK-EZ FIN COMPARISONS 21062015\" width=\"783\" height=\"390\" /></a>\r\n\r\n&nbsp;\r\n\r\nObviously, I can drone on for hours about the statistics in the chart above. I am NOT an economist. My views and thoughts may not be what an economist looks for; they are what I look for as a Forex trader.\r\n<ol>\r\n	<li><strong><u> HOUSING</u></strong> (buoyant housing = spending and Spending = growth)</li>\r\n</ol>\r\nThe UK housing index is on fire compared to the EUROZONE average.\r\n\r\n<strong>   2. <span style=\"text-decoration: underline;\">JOBLESS RATE</span></strong>  (the lower the better, the more the government receives in taxes, the more cash is left for the population to spend on goods and services – the circle as I call it)\r\n\r\nThe UK rate is low at 5.50% compared to the EUROZONE average of 11.10%\r\n<ol start=\"3\">\r\n	<li><strong><u> RETAIL SALES</u></strong> (the more spent = the more is ordered / good for jobs as well)</li>\r\n</ol>\r\nThe UK is at 4.60% the EUROZONE average is at 2.6%\r\n<ol start=\"4\">\r\n	<li><strong><u> PRODUCER PRICES</u></strong> if these rise = nice lift for inflation / GDP, it shows economic growth)</li>\r\n</ol>\r\nThe UK is at 107.10 ahead of the EUROZONE average of 104.80.\r\n<ol start=\"5\">\r\n	<li><strong><u> CONSUMER PRICE INDEX (CPi)</u></strong> (rises = good for inflation and GDP and economic growth)</li>\r\n</ol>\r\nThe UK is at 128.20 compared to the EUROZONE average of 121.30.\r\n\r\nThe 5 points above to me are a fair indicator why the GBP is a bullish currency at the moment. Add to this a recent election win for the Conservatives, that gives David Cameron another 4 years in office and there is now political stability as a result. This is good for the markets.\r\n\r\nThis is the backdrop to why I believe the GBP is a well-supported currency. You can argue it\'s the best looking in an ugly contest, but there are and we have to admit it some compelling reasons why investors would look to the UK.\r\n\r\nMoving on… let me look at the Forex opportunities.\r\n\r\nGBP/USD: The monthly chart below, shows that right now the GBP/USD has been struggling with the 50% retracement (1.5865) of the 2014 highs to the 2015 lows.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/GBPUSD-EMPIRE-STRIKES-BACK-M-21062015.png\"><img class=\"aligncenter size-large wp-image-6155\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/GBPUSD-EMPIRE-STRIKES-BACK-M-21062015-1024x541.png\" alt=\"GBPUSD EMPIRE STRIKES BACK M 21062015\" width=\"1024\" height=\"541\" /></a>\r\n\r\nFor my perspective a break here and then through the psychological 1.6000 level takes us to the 61.8% retracement at 1.6177 and this is where I expect the line in the sand of whether we have a true move higher will be measured. Not that I do not think that the 800 pip move this month from the lows of the 23.6% Fibonacci level of 1.5166 to todays highs around 1.5900 is no mean feat; it is a very bullish move indeed. With the FOMC dithering the potential for further gains are available.\r\n\r\nCan we get a full 100% retracement absolutely, will we?\r\n\r\nAsking another 1200 pips through the summer months when trading is slow and with an expectant U.S. rate hike in September may be a tall order. The BOE under the leadership of Mark “I like to backtrack my statements” Carney, has indicated that an interest rate rise in the UK is on the way but the smart money has 2016 earmarked. In reality it would be a brave man, maybe a fool, if the BOE were to raise rates ahead of the FED.\r\n\r\nMaybe a realistic target for the GBP/USD is 1.6500 by the summer’s end but that is also asking about 500 pips from last weeks close at 1.5875.\r\n\r\nPrice action with the cable also revolves around price action with the EURO. We must also bear in mind the very influential EUR/GBP cross-rate. This pair is very liquid to trade and should never be under-estimated with its effect on both the EUR and GBP.\r\n\r\nWith the EUROZONE about to be severely tested with the GREECE exit and default etc., price action with the EUR/USD and EUR/GBP could very heavily influence price movements with the GBP/USD. Having said that it could remain somewhat stagnant as I expect the commodity currencies to be hit quite hard placing pressure on the AUD, NZD and the CAD.\r\n\r\nThis will have a cross-rate effect through the GBP crosses, the GBP/AUD, GBP/CAD, and GBP/NZD in particular, all of which could be bullish and pop higher in a risk off situation. But the net effect could be that the GBP/USD stays reasonably elevated without much of a trade off.\r\n\r\nThe charts below (they have no commentary on them just the levels) show the monthly upside moves this month alone so far from the GBP crosses; the highlights of the pip moves are as follows:\r\n\r\nGBP/JPY – 744 pips\r\n\r\nGBP/AUD - 931 pips\r\n\r\nGBP/CAD – 687 pips\r\n\r\nGBP/NZD – 1,757 pips\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/GBPAUD-EMPIRE-STRIKES-BACK-M-21062015.png\"><img class=\"aligncenter size-large wp-image-6159\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/GBPAUD-EMPIRE-STRIKES-BACK-M-21062015-1024x541.png\" alt=\"GBPAUD EMPIRE STRIKES BACK  M 21062015\" width=\"1024\" height=\"541\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/GBPCAD-EMPIRE-STRIKES-BACK-M-21062015.png\"><img class=\"aligncenter size-large wp-image-6158\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/GBPCAD-EMPIRE-STRIKES-BACK-M-21062015-1024x541.png\" alt=\"GBPCAD EMPIRE STRIKES BACK  M 21062015\" width=\"1024\" height=\"541\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/GBPJPY-EMPIRE-STRIKES-BACK-M-21062015.png\"><img class=\"aligncenter size-large wp-image-6157\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/GBPJPY-EMPIRE-STRIKES-BACK-M-21062015-1024x541.png\" alt=\"GBPJPY EMPIRE STRIKES BACK M 21062015\" width=\"1024\" height=\"541\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/GBPNZD-EMPIRE-STRIKES-BACK-M-21062015.png\"><img class=\"aligncenter size-large wp-image-6156\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/GBPNZD-EMPIRE-STRIKES-BACK-M-21062015-1024x541.png\" alt=\"GBPNZD EMPIRE STRIKES BACK M 21062015\" width=\"1024\" height=\"541\" /></a>\r\n\r\n&nbsp;\r\n\r\nBy any stretch of the imagination, these pip gains in the above pairs this month so far are spectacular, and well above the Monthly Average True Range normal.\r\n\r\nTherefore, the wider picture is YES…. THE EMPIRE CAN STRIKE BACK…FURTHER but through the cross-rate pairs and maybe not through the GBP/USD which, move a little but, the great unwind trades since the Financial crash could be coming to the forefront via the GBP crosses. With these cross-rate pairs there are thousands of pips available, if the moves gain traction.\r\n\r\nJust imagine the effect on the commodity cross-rate pairs if we had an equity market sell off. If we think the move this month has been explosive, as Bachman Turner Overdrive once said… “You ain’t seen nothin’ yet.\r\n\r\nPREMIUM SERVICE subscribers already know that I am constantly looking at these pairs for entries, there are STILL thousands of unwinding pips still out there with the GBP commodity crosses, and do not forget the EUR crosses as well in a “RISK OFF” environment.\r\n\r\nMaybe its time for me to consider not to hate trading cable again?\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 - 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 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\n\r\n10 weeks / 3 months:               USD $295.00\r\n\r\n20 weeks / 6 months:               USD $495.00\r\n\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>PLEASE NOTE:</u>\r\n\r\nDuring the summer from July 25<sup>th</sup> through to September 5<sup>th</sup> 2015, there will not be any WEEKLY FX DRIVE THRU blogs and PREMIUM SERVICE trading will be minimal due to slow markets. Subscribers will still be advised of trades, if any, but typically there are very few. Subscription periods DO NOT count the weeks when there is no blog.\r\n\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):</u>\r\n\r\n&nbsp;\r\n\r\nEMANATING FROM TRADE SET-UPS - 2015 to date:\r\n\r\n<u>MICRO LOT TRADER</u> - 407 trades cost to trade = $40.70\r\n<strong>PROFIT</strong> from 407 trades = <strong><u>$594.60</u></strong>\r\n\r\n<u>MINI LOT TRADER</u> - 407 trades cost to trade = $407.00\r\n<strong>PROFIT</strong> from 407 trades = <strong><u>$5,946.00</u></strong>\r\n\r\n<u>STANDARD LOT TRADER</u> - 407 trades cost to trade = $4,070.00\r\n<strong>PROFIT</strong> from 407 trades = <strong><u>$59,460.00</u></strong>\r\n\r\nIf the above return from Forex Trading interests you go to\r\n\r\n<a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a> and check out the subscription options under the tab “PREMIUM SERVICE”.\r\n\r\nThe performance above is based off single-lot trade sizes.\r\n\r\nTHE PREMIUM SERVICE has subscribers with broker accounts of sizes ranging from $2,500 to over $100,000.\r\n\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.\r\n\r\n&nbsp;\r\n\r\n<u>3.2.2 – PREMIUM SERVICE - TRADE SUMMARY DETAILS MONTH &amp; YTD:</u>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/PS-PROFITS1-21062015.png\"><img class=\"aligncenter size-full wp-image-6165\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/PS-PROFITS1-21062015.png\" alt=\"PS PROFITS1 21062015\" width=\"453\" height=\"420\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/PS-PROFITS2-21062015.png\"><img class=\"aligncenter size-full wp-image-6166\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/PS-PROFITS2-21062015.png\" alt=\"PS PROFITS2 21062015\" width=\"460\" height=\"416\" /></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 after the summer break.\r\n\r\n<u>4.2 – THE PREMIUM SERVICE – TRADING REVIEW &amp; LOOKING FORWARD:</u>\r\n\r\nJust the 6 trades in the past week., with 5 of them being opportunist FLASH TRADES. The PREMIUM SERVICE broker accounts are moving up each week, but at a slower rate than usual.\r\n\r\nAs traders we just have to accept that at certain times some of our best trades are in fact, when we choose not to trade. As I have written so many times and I know, one or two of you are tired of reading this but its all about RISK MANAGEMENT.\r\n\r\nIn my opinion, at the moment, it is a situation when the risks associated with trading are too high and that is why a greater filtration policy is in place when it comes down to currency pairs to trade and what type of trades are entered into. From my experience of trading for eight years now I have learned that, difficult as it is, patience is one of the best trader traits to have and it does pay off over time. I know its frustrating and sometimes you let huge moves pass you by, like recently the GBP/NZD, GBP/CAD, GBP/CAD and AUD/NZD, but try to take some comfort in the fact that there is a Forex market everyday and for around 90% of the days there are opportunities to make pips.\r\n\r\nI am uncomfortable placing my longer-term FUNDAMENTAL trades until GREECE is resolved one way or another, but I am looking at the following trading pairs: -\r\n\r\nSHORT: NZD/USD, EUR/GBP and NZD/CHF.\r\n\r\nLONG: AUD/NZD, GBP/CAD, GBP/AUD, GBP/NZD, EUR/AUD, EUR/CAD, EUR/NZD, USD/CHF, USD/CAD and EUR/CHF.\r\n\r\nI will not be taking 13 trades as listed above; well I do not think so. However, there will be a combination of trades spread between longer-term FUNDAMENTAL TRADES and at the same time with the same currency pairs some shorter term swing style trades (RADAR TRADES).\r\n\r\nI have charts set up and I keep updating them each week. I am ready to go with the trades; it will be all about trying to obtain the best entries.\r\n\r\n&nbsp;\r\n\r\n<u>4.3 - THE PREMIUM SERVICE - EXISTING LIVE TRADES:</u>\r\n\r\nThere are currently no LIVE trades.<u> </u>\r\n\r\n<u>4.4 - THE PREMIUM SERVICE – EXISTING LIMIT ORDERS:</u>\r\n\r\n(Remember 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<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/LIMIT-ORDERS-21062015.png\"><img class=\"aligncenter size-full wp-image-6168\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/LIMIT-ORDERS-21062015.png\" alt=\"LIMIT ORDERS 21062015\" width=\"703\" height=\"444\" /></a>\r\n\r\n<u>4.5 – ARMEGEDDON “GOLDEN” TRADES:</u>\r\n\r\n(Emanating from conversations and requested by fellow subscribers these trade set-ups are based on severe market pullbacks, breakouts or breakdowns. These trades would apply after major geopolitical news has hit the news wires. These are also trade levels that provided great set ups in the past that would hopefully represent great entry opportunities again in the future).\r\n\r\nGOLDEN TRADE #002\r\n\r\nEUR/GBP:\r\nEnter short at 0.7380\r\n\r\nThe weekly chart below shows this level of 0.7380 to have been a point of interest on about 5 or 6 times recently.\r\n\r\nI see this as my favoured entry position going short looking at a move to at least the 161.8% Fibonacci extension level of 0.6785.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/GOLDEN-TRADE-2-D-EURGBP-21062015.png\"><img class=\"aligncenter size-large wp-image-6169\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/GOLDEN-TRADE-2-D-EURGBP-21062015-1024x541.png\" alt=\"GOLDEN TRADE #2 D EURGBP 21062015\" width=\"1024\" height=\"541\" /></a>\r\n\r\n<u>4.6 - 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 am still very light on trades and therefore, there are only a few charts to look at this week. You may also notice they are not involving the USD. All of my comments are contained on the charts.\r\n\r\n(These are of course in addition to the GBP and EUR crosses alluded to earlier in the blog)\r\n\r\nNZD/USD (MONTHLY):\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/NZDUSD-M-21062015.png\"><img class=\"aligncenter size-large wp-image-6170\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/NZDUSD-M-21062015-1024x541.png\" alt=\"NZDUSD M 21062015\" width=\"1024\" height=\"541\" /></a>\r\n\r\n&nbsp;\r\n\r\nAUD/NZD (60 MINUTES):\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/AUDNZD-60M-21062015.png\"><img class=\"aligncenter size-large wp-image-6174\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/AUDNZD-60M-21062015-1024x541.png\" alt=\"AUDNZD 60M 21062015\" width=\"1024\" height=\"541\" /></a>\r\n\r\n&nbsp;\r\n\r\nNZD/CAD (MONTHLY):\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/NZDCAD-M-21062015.png\"><img class=\"aligncenter size-large wp-image-6172\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/NZDCAD-M-21062015-1024x541.png\" alt=\"NZDCAD M 21062015\" width=\"1024\" height=\"541\" /></a>\r\n\r\n&nbsp;\r\n\r\nGBP/CHF (WEEKLY):\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/GBPCHF-W-21062015.png\"><img class=\"aligncenter size-large wp-image-6173\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/GBPCHF-W-21062015-1024x541.png\" alt=\"GBPCHF W 21062015\" width=\"1024\" height=\"541\" /></a>\r\n\r\n&nbsp;\r\n\r\nNZD/CHF (MONTHLY):\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/NZDCHF-M-21062015.png\"><img class=\"aligncenter size-large wp-image-6171\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/NZDCHF-M-21062015-1024x541.png\" alt=\"NZDCHF M 21062015\" width=\"1024\" height=\"541\" /></a>\r\n\r\n&nbsp;\r\n\r\n<u>4.7 - MAJOR TRADING PAIRS WITH LONGER-TERM TRENDS MATCHING:</u>\r\n\r\n(The following currency pairs have Short Term (DAILY), Medium Term (WEEKLY) and Long Term (MONTHLY) charts all trending in the same direction).\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/PS-TRENDING-PAIRS-21062015.png\"><img class=\"aligncenter size-full wp-image-6167\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/PS-TRENDING-PAIRS-21062015.png\" alt=\"PS TRENDING PAIRS 21062015\" width=\"390\" height=\"522\" /></a>\r\n\r\n<u>4.8 - 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\nAll of my thoughts and my comments relating to each USD major are now contained on the charts.\r\n\r\n<strong><u>EUR/USD: Closing Price 1.1348</u></strong><strong><u> </u></strong>\r\n\r\n<strong><u>\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/EURUSD-W-21062015.png\"><img class=\"aligncenter size-large wp-image-6180\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/EURUSD-W-21062015-1024x541.png\" alt=\"EURUSD W 21062015\" width=\"1024\" height=\"541\" /></a>\r\n</u></strong>\r\n\r\n<strong><u>GBP/USD: Closing Price 1.5875</u></strong>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/GBPUSD-W-21062015.png\"><img class=\"aligncenter size-large wp-image-6179\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/GBPUSD-W-21062015-1024x541.png\" alt=\"GBPUSD W 21062015\" width=\"1024\" height=\"541\" /></a>\r\n\r\n<strong><u>AUD/USD: Closing Price 0.7769</u></strong>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/AUDUSD-W-21062015.png\"><img class=\"aligncenter size-large wp-image-6181\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/AUDUSD-W-21062015-1024x541.png\" alt=\"AUDUSD W 21062015\" width=\"1024\" height=\"541\" /></a>\r\n\r\n<strong><u>NZD/USD: Closing Price 0.6908</u></strong><u>  </u>\r\n\r\n&nbsp;\r\n\r\n<u><a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/NZDUSD-W-21062015.png\"><img class=\"aligncenter size-large wp-image-6178\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/NZDUSD-W-21062015-1024x541.png\" alt=\"NZDUSD W 21062015\" width=\"1024\" height=\"541\" /></a> </u>\r\n\r\n<strong><u>USD/CAD: Closing Price 1.2267</u></strong><u>   </u>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/USDCAD-W-21062015.png\"><img class=\"aligncenter size-large wp-image-6177\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/USDCAD-W-21062015-1024x541.png\" alt=\"USDCAD W 21062015\" width=\"1024\" height=\"541\" /></a>\r\n\r\n<strong><u>USD/CHF: Closing Price 0.9172</u></strong>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/USDCHF-W-21062015.png\"><img class=\"aligncenter size-large wp-image-6176\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/USDCHF-W-21062015-1024x541.png\" alt=\"USDCHF W 21062015\" width=\"1024\" height=\"541\" /></a>\r\n\r\n&nbsp;\r\n\r\n<strong><u>USD/JPY: Closing Price 122.66 </u></strong><u> </u>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/USDJPY-W-21062015.png\"><img class=\"aligncenter size-large wp-image-6175\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/USDJPY-W-21062015-1024x541.png\" alt=\"USDJPY W 21062015\" width=\"1024\" height=\"541\" /></a>\r\n<ol start=\"5\">\r\n	<li><strong><u>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\nPersonally, I am going to continue my recent short-term plan of trading very light, I see no reason to change until the GREECE situation is resolved. This is a slow week for economic data and therefore we FX traders will be held captive by equities to some extend.\r\n\r\nWatch OIL this week; I see moves afoot with this commodity and GOLD as well. There is no reason at all to hold GOLD at the moment in my opinion. With these two commodities looking under pressure in my opinion, this will help the USD. Watch the DXY for a move towards 97.00 / 98.00 again. However, again it’s all about the reaction to the GREECE situation and the CONTAGION effect.\r\n\r\nWith high-risk news on the imminent horizon it is now in my mind, even more important to stick to core trading principles.\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 June 21st 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.','THE EMPIRE STRIKES BACK','','publish','open','closed','','the-empire-strikes-back','','','2015-06-20 11:53:24','2015-06-20 16:53:24','',0,'https://weeklyfxdrivethru.com/?post_type=member_posts&#038;p=6184',0,'member_posts','',0),(6185,1,'2015-06-20 11:51:30','2015-06-20 16:51:30','<h3 style=\"text-align: center;\"><strong>THE PREMIUM SERVICE\r\n</strong><strong>The Home of Single-Lot Trading\r\nwww.weeklyfxdrivethru.co</strong></h3>\r\n<strong>DATE: 21.06.2015\r\nREFERENCE: #65\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\n1.1.1 - OVERVIEW:\r\n\r\nI felt like I was not really working last week. I only opened and closed 6 trades all week. 5 were positive trades the other lost money, the next result was more pips added to the PREMIUM SERVICE account plus the other accounts I manage.\r\n\r\nOne should never complain about adding pips on a weekly basis, as it is money in and not out of your broker account. However, like I said in the blog last week, I feel in a similar position to a death row prisoner in the sense that you know something is going to happen but you are just sitting back waiting for the inevitable. In my case, not death but the conclusion (maybe just for now) of the ongoing GREECE fiasco.\r\n\r\nHopefully to be proved correct, I see this as a major volatility news event and I do not want 10-15 trades in play as the news of whatever it is going to be hits the newswires, plus prior to the news breaking, we have to remember we are dealing with the EUROZONE; the home of the misleading sound byte, quote and the originator of the buy the rumour sell the news reaction. These latter reasons are why I am really not participating in the markets at the moment and I am being ultra selective on entry levels and pairs to trade.\r\n\r\nAll the above being said…nothing has changed from last week apart from the FOMC. This I will tackle next.\r\n\r\n&nbsp;\r\n\r\n1.1.2 – FOMC:\r\n\r\nWhat can I say?\r\n\r\nThe time I thought that leadership from the FOMC would come through, all I saw was the same old same old. I am now in the camp of the FED does NOT believe the credibility or the accuracy of the statistics produced. This data dependent stance has just rolled on far too long in my opinion and quite honestly the whole scenario is quickly turning into a “West-end” (London Theatre land) stage farce.\r\n\r\nIs the FOMC even afraid to raise rates by even 0.10%? Is the U.S. economy that fragile?\r\n\r\nI am finding the Janet Yellen dovish approach so behind the curve the FED is in danger of looking like bigger “numpties” than their counter-parts at the ECB, and for me to say that is huge!\r\n\r\nI think with Yellen and her committee we have in the FOMC a collection of ditherers. The only possible reason that I think that the FOMC is holding back on the rate increase is because they want to try to set up a positive final quarter of the year by increasing rates in Q4 (September / October) at a time when the U.S. economy is more robust. If this is not the reason we do have a collection of ditherers in my opinion.\r\n\r\n&nbsp;\r\n\r\n1.1.2 – GREECE:\r\n\r\nI have to mention GREECE. However, like many people who write articles or blogs I am running out of fresh things to say.\r\n\r\nThe one snippet of news that I did pick up on was the comment about the GREEK banks not opening on Monday 22<sup>nd</sup> June. It was very quickly denied. There is no doubt that banks have been seeing cash being moved away from GREECE in the millions (the smart money left months ago) and as I have stated very clearly for months, the first step before the default are CAPITAL CONTROLS, I believe we are almost there.\r\n\r\nThe rhetoric is high on emotion now. This exasperated position will only get worse. Remember, we are dealing with politicians who need their egos cuddled on a regular basis. They are NOT problem solvers; politicians like to blame other politicians. They do NOT accept responsibility for anything.\r\n\r\nTo be a politician in most countries around the world gets the membership of a society similar to the FREEMASONS, but instead of the secret handshake, politicians are stripped naked (not a pretty sight) and coated, or as they would say anointed in Teflon.\r\n\r\nWith this in mind watch for the blame game to start. Be aware when this starts we will know that there is no solution, good or half-assed, not even a can-kicking solution, we will have a default.\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n<u>1.2 - LOOKING FORWARDS:</u>\r\n\r\n<u>1.2.1 - 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: CNY – HSBC Flash Manufacturing PMi.\r\n\r\nTUESDAY: N/A.\r\n\r\nWEDNESDAY: USD – GDP.\r\n\r\nTHURSDAY: NZD – Trade Balance.\r\n\r\nFRIDAY: N/A.\r\n\r\n&nbsp;\r\n\r\n1.2.2 – MY THOUGHTS ON THE NEWS ITEMS THIS COMING WEEK:\r\n\r\nNo much at all interests me with regards to news events this coming week. I expect to have NZD related trades in play so the direct NZD Trade balance data will be of interest plus China data, which directly affects the Kiwi.\r\n\r\nThe only other addition is U.S. GDP for the quarter. It should be a market mover on the basis it may influence the FOMC but with a data dependent scenario in play I strongly suspect Yellen and co will want another quarters result as well.\r\n\r\nTherefore as Forex traders we will be held to ransom by equities and of course GREECE.\r\n\r\n&nbsp;\r\n\r\n<u>1.3 - LOOKING SIDEWAYS (FOR GOOD MEASURE): </u>\r\n\r\nAnother week of gardening leave completed (this is what it feels like) and I have had a lot of time to review my FUNDAMENTAL STRATEGIES moving forward amongst many other related subjects.\r\n\r\nThe FOMC really caught me off guard with regards to their dithering last week over rate hikes. Sure, when you play “join the dots” (with their economic projections) it all looks rosy for a rate hike this year, possibly even two, but when you go into 2016 and 2017, the FOMC are not as confident of further rate increases. This has me a little perplexed.\r\n\r\nI still believe that central bank divergences will come to the forefront and dictate / guide / give the Forex markets some momentum moves looking ahead, but the FOMC dots still give me cause to note. The bottom line is however that the FED is going one way possibly with the UK being hawkish with them, and, the rest of the major central banks are going the other way, accommodative and dovish.\r\n\r\nI am still in the camp that believes supply and demand will win the day when it comes to oil pricing. Maybe the highly speculative market players are taking the summer months when demand is higher to try and squeeze every last drop of greed out of the commodity. Basic economics has to come to the forefront here, supply is well over demand and to balance this out there just has to be a mathematical price adjustment. If there isn’t, my old Economics master from my schooldays will be turning in his grave (I am assuming he is long passed on by now).\r\n\r\nWith these factors in mind my trades are still in play, I just now need to achieve the entry levels I want once GREECE is out of the way.\r\n\r\nLast week I placed my first ARMEGEDDON “Golden” TRADE, which was annotated for my subscribers, and this week I have my second one ready.\r\n\r\nI have spoken with a couple of subscribers over the past few days and in addition to my caution of over-trading it does appear that this is the consensus view on moving forward for many traders at the moment.\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;\"><strong>THE EMPIRE STRIKES BACK</strong></h3>\r\nFor all you Star Wars geeks out there, I am not referring to any movie involving the expertise of George Lucas, and I am NOT referring to characters portrayed in the movies.\r\n\r\nI am referring to good old “blighty”…the UK or from an FX perspective the GBP (Cable).\r\n\r\nCable is on the move, and as most regular readers will confirm, I hate trading the GBP, however, in all honesty I would like to narrow that statement to just the GBP/USD and GBP/JPY. The rest of the GBP related pairs I like trading, my favourite trading pair is by the way the EUR/GBP.\r\n\r\nThe GBP is on the move, this month there have been spectacular moves across the spectrum of GBP related pairs, and thousands of pips of moves have been seen.\r\n\r\nHere is the big question…why is cable on a tear and what trading opportunities are still available, if any, and what are the risks involved over and above the usual day to day risks in trading Forex?\r\n\r\nI intend not to ramble on here about economics, I covered economics for long enough in my younger years, I found it interesting, many did not, it can be boring I admit. I am now a trader I will focus more on the FX opportunities; however, we need to understand just briefly why the UK is in good shape.\r\n\r\nFrom the beginning, the UK’s biggest trading partner is the EUROZONE, but the UK is more of a services economy and a production / industrial economy. The UK does manufacture, it does produce finished goods, but it is a world hub for Finance and Insurance. Here lies a huge benefit over its closest trading partner. The EUROZONE is more of an industrial producer/ exporter.\r\n\r\nThe service sector generally will always stay more consistent than manufacturing, which has swings associated with it as peoples purchasing can be seasonal.\r\n\r\nIn addition, the UK took Quantitative Easing (QE) steps to support its economy immediately during the Financial Crash of 2008-09 as well as austerity measures, and the two economies that took the QE route from the get go, the U.S. and the UK are the stronger economies now looking to raise rates rather than say the EUROZONE whose initial approach for 7 years was to drive the spike of austerity through the heart of EUROPE and it really failed. Now they are just into the QE route, in my opinion at least 2/3 years behind and chasing as fast as it can given its issues.\r\n\r\nLooking at some economic data, I have provided at a very high level some interesting comparisons looking at the UK versus the Euro Area in general and individual EUROZONE members and there are some interesting comparisons.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/UK-EZ-FIN-COMPARISONS-21062015.png\"><img class=\"aligncenter size-full wp-image-6154\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/UK-EZ-FIN-COMPARISONS-21062015.png\" alt=\"UK-EZ FIN COMPARISONS 21062015\" width=\"783\" height=\"390\" /></a>\r\n\r\n&nbsp;\r\n\r\nObviously, I can drone on for hours about the statistics in the chart above. I am NOT an economist. My views and thoughts may not be what an economist looks for; they are what I look for as a Forex trader.\r\n<ol>\r\n	<li><strong><u> HOUSING</u></strong> (buoyant housing = spending and Spending = growth)</li>\r\n</ol>\r\nThe UK housing index is on fire compared to the EUROZONE average.\r\n\r\n<strong>   2. <span style=\"text-decoration: underline;\">JOBLESS RATE</span></strong>  (the lower the better, the more the government receives in taxes, the more cash is left for the population to spend on goods and services – the circle as I call it)\r\n\r\nThe UK rate is low at 5.50% compared to the EUROZONE average of 11.10%\r\n<ol start=\"3\">\r\n	<li><strong><u> RETAIL SALES</u></strong> (the more spent = the more is ordered / good for jobs as well)</li>\r\n</ol>\r\nThe UK is at 4.60% the EUROZONE average is at 2.6%\r\n<ol start=\"4\">\r\n	<li><strong><u> PRODUCER PRICES</u></strong> if these rise = nice lift for inflation / GDP, it shows economic growth)</li>\r\n</ol>\r\nThe UK is at 107.10 ahead of the EUROZONE average of 104.80.\r\n<ol start=\"5\">\r\n	<li><strong><u> CONSUMER PRICE INDEX (CPi)</u></strong> (rises = good for inflation and GDP and economic growth)</li>\r\n</ol>\r\nThe UK is at 128.20 compared to the EUROZONE average of 121.30.\r\n\r\nThe 5 points above to me are a fair indicator why the GBP is a bullish currency at the moment. Add to this a recent election win for the Conservatives, that gives David Cameron another 4 years in office and there is now political stability as a result. This is good for the markets.\r\n\r\nThis is the backdrop to why I believe the GBP is a well-supported currency. You can argue it\'s the best looking in an ugly contest, but there are and we have to admit it some compelling reasons why investors would look to the UK.\r\n\r\nMoving on… let me look at the Forex opportunities.\r\n\r\nGBP/USD: The monthly chart below, shows that right now the GBP/USD has been struggling with the 50% retracement (1.5865) of the 2014 highs to the 2015 lows.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/GBPUSD-EMPIRE-STRIKES-BACK-M-21062015.png\"><img class=\"aligncenter size-large wp-image-6155\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/GBPUSD-EMPIRE-STRIKES-BACK-M-21062015-1024x541.png\" alt=\"GBPUSD EMPIRE STRIKES BACK M 21062015\" width=\"1024\" height=\"541\" /></a>\r\n\r\nFor my perspective a break here and then through the psychological 1.6000 level takes us to the 61.8% retracement at 1.6177 and this is where I expect the line in the sand of whether we have a true move higher will be measured. Not that I do not think that the 800 pip move this month from the lows of the 23.6% Fibonacci level of 1.5166 to todays highs around 1.5900 is no mean feat; it is a very bullish move indeed. With the FOMC dithering the potential for further gains are available.\r\n\r\nCan we get a full 100% retracement absolutely, will we?\r\n\r\nAsking another 1200 pips through the summer months when trading is slow and with an expectant U.S. rate hike in September may be a tall order. The BOE under the leadership of Mark “I like to backtrack my statements” Carney, has indicated that an interest rate rise in the UK is on the way but the smart money has 2016 earmarked. In reality it would be a brave man, maybe a fool, if the BOE were to raise rates ahead of the FED.\r\n\r\nMaybe a realistic target for the GBP/USD is 1.6500 by the summer’s end but that is also asking about 500 pips from last weeks close at 1.5875.\r\n\r\nPrice action with the cable also revolves around price action with the EURO. We must also bear in mind the very influential EUR/GBP cross-rate. This pair is very liquid to trade and should never be under-estimated with its effect on both the EUR and GBP.\r\n\r\nWith the EUROZONE about to be severely tested with the GREECE exit and default etc., price action with the EUR/USD and EUR/GBP could very heavily influence price movements with the GBP/USD. Having said that it could remain somewhat stagnant as I expect the commodity currencies to be hit quite hard placing pressure on the AUD, NZD and the CAD.\r\n\r\nThis will have a cross-rate effect through the GBP crosses, the GBP/AUD, GBP/CAD, and GBP/NZD in particular, all of which could be bullish and pop higher in a risk off situation. But the net effect could be that the GBP/USD stays reasonably elevated without much of a trade off.\r\n\r\nThe charts below (they have no commentary on them just the levels) show the monthly upside moves this month alone so far from the GBP crosses; the highlights of the pip moves are as follows:\r\n\r\nGBP/JPY – 744 pips\r\n\r\nGBP/AUD - 931 pips\r\n\r\nGBP/CAD – 687 pips\r\n\r\nGBP/NZD – 1,757 pips\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/GBPAUD-EMPIRE-STRIKES-BACK-M-21062015.png\"><img class=\"aligncenter size-large wp-image-6159\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/GBPAUD-EMPIRE-STRIKES-BACK-M-21062015-1024x541.png\" alt=\"GBPAUD EMPIRE STRIKES BACK  M 21062015\" width=\"1024\" height=\"541\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/GBPCAD-EMPIRE-STRIKES-BACK-M-21062015.png\"><img class=\"aligncenter size-large wp-image-6158\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/GBPCAD-EMPIRE-STRIKES-BACK-M-21062015-1024x541.png\" alt=\"GBPCAD EMPIRE STRIKES BACK  M 21062015\" width=\"1024\" height=\"541\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/GBPJPY-EMPIRE-STRIKES-BACK-M-21062015.png\"><img class=\"aligncenter size-large wp-image-6157\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/GBPJPY-EMPIRE-STRIKES-BACK-M-21062015-1024x541.png\" alt=\"GBPJPY EMPIRE STRIKES BACK M 21062015\" width=\"1024\" height=\"541\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/GBPNZD-EMPIRE-STRIKES-BACK-M-21062015.png\"><img class=\"aligncenter size-large wp-image-6156\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/GBPNZD-EMPIRE-STRIKES-BACK-M-21062015-1024x541.png\" alt=\"GBPNZD EMPIRE STRIKES BACK M 21062015\" width=\"1024\" height=\"541\" /></a>\r\n\r\n&nbsp;\r\n\r\nBy any stretch of the imagination, these pip gains in the above pairs this month so far are spectacular, and well above the Monthly Average True Range normal.\r\n\r\nTherefore, the wider picture is YES…. THE EMPIRE CAN STRIKE BACK…FURTHER but through the cross-rate pairs and maybe not through the GBP/USD which, move a little but, the great unwind trades since the Financial crash could be coming to the forefront via the GBP crosses. With these cross-rate pairs there are thousands of pips available, if the moves gain traction.\r\n\r\nJust imagine the effect on the commodity cross-rate pairs if we had an equity market sell off. If we think the move this month has been explosive, as Bachman Turner Overdrive once said… “You ain’t seen nothin’ yet.\r\n\r\nPREMIUM SERVICE subscribers already know that I am constantly looking at these pairs for entries, there are STILL thousands of unwinding pips still out there with the GBP commodity crosses, and do not forget the EUR crosses as well in a “RISK OFF” environment.\r\n\r\nMaybe its time for me to consider not to hate trading cable again?\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 - 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 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\n\r\n10 weeks / 3 months:               USD $295.00\r\n\r\n20 weeks / 6 months:               USD $495.00\r\n\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>PLEASE NOTE:</u>\r\n\r\nDuring the summer from July 25<sup>th</sup> through to September 5<sup>th</sup> 2015, there will not be any WEEKLY FX DRIVE THRU blogs and PREMIUM SERVICE trading will be minimal due to slow markets. Subscribers will still be advised of trades, if any, but typically there are very few. Subscription periods DO NOT count the weeks when there is no blog.\r\n\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\r\n</u>\r\n\r\nEMANATING FROM TRADE SET-UPS - 2015 to date:\r\n\r\n<u>MICRO LOT TRADER</u> - 407 trades cost to trade = $40.70\r\n<strong>PROFIT</strong> from 407 trades = <strong><u>$594.60</u></strong>\r\n\r\n<u>MINI LOT TRADER</u> - 407 trades cost to trade = $407.00\r\n<strong>PROFIT</strong> from 407 trades = <strong><u>$5,946.00</u></strong>\r\n\r\n<u>STANDARD LOT TRADER</u> - 407 trades cost to trade = $4,070.00\r\n<strong>PROFIT</strong> from 407 trades = <strong><u>$59,460.00</u></strong>\r\n\r\nIf the above return from Forex Trading interests you go to\r\n\r\n<a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a> and check out the subscription options under the tab “PREMIUM SERVICE”.\r\n\r\nThe performance above is based off single-lot trade sizes.\r\n\r\nTHE PREMIUM SERVICE has subscribers with broker accounts of sizes ranging from $2,500 to over $100,000.\r\n\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.\r\n\r\n&nbsp;\r\n\r\n<u>3.2.2 – PREMIUM SERVICE - TRADE SUMMARY DETAILS MONTH &amp; YTD:</u>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/PS-PROFITS1-21062015.png\"><img class=\"aligncenter size-full wp-image-6165\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/PS-PROFITS1-21062015.png\" alt=\"PS PROFITS1 21062015\" width=\"453\" height=\"420\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/PS-PROFITS2-21062015.png\"><img class=\"aligncenter size-full wp-image-6166\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/PS-PROFITS2-21062015.png\" alt=\"PS PROFITS2 21062015\" width=\"460\" height=\"416\" /></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 after the summer break.\r\n\r\n<u>4.2 – THE PREMIUM SERVICE – TRADING REVIEW &amp; LOOKING FORWARD:</u>\r\n\r\nJust the 6 trades in the past week., with 5 of them being opportunist FLASH TRADES. The PREMIUM SERVICE broker accounts are moving up each week, but at a slower rate than usual.\r\n\r\nAs traders we just have to accept that at certain times some of our best trades are in fact, when we choose not to trade. As I have written so many times and I know, one or two of you are tired of reading this but its all about RISK MANAGEMENT.\r\n\r\nIn my opinion, at the moment, it is a situation when the risks associated with trading are too high and that is why a greater filtration policy is in place when it comes down to currency pairs to trade and what type of trades are entered into. From my experience of trading for eight years now I have learned that, difficult as it is, patience is one of the best trader traits to have and it does pay off over time. I know its frustrating and sometimes you let huge moves pass you by, like recently the GBPNZD, GBPCAD, GBPCAD and AUDNZD, but try to take some comfort in the fact that there is a Forex market everyday and for around 90% of the days there are opportunities to make pips.\r\n\r\nI am uncomfortable placing my longer-term FUNDAMENTAL trades until GREECE is resolved one way or another, but I am looking at the following trading pairs: -\r\n\r\nSHORT: NZD/USD, EUR/GBP and NZD/CHF.\r\n\r\nLONG: AUD/NZD, GBP/CAD, GBP/AUD, GBP/NZD, EUR/AUD, EUR/CAD, EUR/NZD, USD/CHF, USD/CAD and EUR/CHF.\r\n\r\nI will not be taking 13 trades as listed above; well I do not think so. However, there will be a combination of trades spread between longer-term FUNDAMENTAL TRADES and at the same time with the same currency pairs some shorter term swing style trades (RADAR TRADES).\r\n\r\nI have charts set up and I keep updating them each week. I am ready to go with the trades; it will be all about trying to obtain the best entries.\r\n\r\n&nbsp;\r\n\r\n<u>4.3 - THE PREMIUM SERVICE - EXISTING LIVE TRADES:</u>\r\n\r\nThere are currently no LIVE trades.<u> </u>\r\n\r\n<u>4.4 - THE PREMIUM SERVICE – EXISTING LIMIT ORDERS:</u>\r\n\r\n(Remember 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<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/LIMIT-ORDERS-21062015.png\"><img class=\"aligncenter size-full wp-image-6168\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/LIMIT-ORDERS-21062015.png\" alt=\"LIMIT ORDERS 21062015\" width=\"703\" height=\"444\" /></a>\r\n\r\n<u>4.5 – ARMEGEDDON “GOLDEN” TRADES:</u>\r\n\r\n(Emanating from conversations and requested by fellow subscribers these trade set-ups are based on severe market pullbacks, breakouts or breakdowns. These trades would apply after major geopolitical news has hit the news wires. These are also trade levels that provided great set ups in the past that would hopefully represent great entry opportunities again in the future).\r\n\r\nGOLDEN TRADE #002\r\n\r\nEUR/GBP:\r\nEnter short at 0.7380\r\n\r\nThe weekly chart below shows this level of 0.7380 to have been a point of interest on about 5 or 6 times recently.\r\n\r\nI see this as my favoured entry position going short looking at a move to at least the 161.8% Fibonacci extension level of 0.6785.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/GOLDEN-TRADE-2-D-EURGBP-21062015.png\"><img class=\"aligncenter size-large wp-image-6169\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/GOLDEN-TRADE-2-D-EURGBP-21062015-1024x541.png\" alt=\"GOLDEN TRADE #2 D EURGBP 21062015\" width=\"1024\" height=\"541\" /></a>\r\n\r\n<u>4.6 - 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 am still very light on trades and therefore, there are only a few charts to look at this week. You may also notice they are not involving the USD. All of my comments are contained on the charts.\r\n\r\n(These are of course in addition to the GBP and EUR crosses alluded to earlier in the blog)\r\n\r\nNZD/USD (MONTHLY):\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/NZDUSD-M-21062015.png\"><img class=\"aligncenter size-large wp-image-6170\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/NZDUSD-M-21062015-1024x541.png\" alt=\"NZDUSD M 21062015\" width=\"1024\" height=\"541\" /></a>\r\n\r\n&nbsp;\r\n\r\nAUD/NZD (60 MINUTES):\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/AUDNZD-60M-21062015.png\"><img class=\"aligncenter size-large wp-image-6174\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/AUDNZD-60M-21062015-1024x541.png\" alt=\"AUDNZD 60M 21062015\" width=\"1024\" height=\"541\" /></a>\r\n\r\n&nbsp;\r\n\r\nNZD/CAD (MONTHLY):\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/NZDCAD-M-21062015.png\"><img class=\"aligncenter size-large wp-image-6172\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/NZDCAD-M-21062015-1024x541.png\" alt=\"NZDCAD M 21062015\" width=\"1024\" height=\"541\" /></a>\r\n\r\n&nbsp;\r\n\r\nGBP/CHF (WEEKLY):\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/GBPCHF-W-21062015.png\"><img class=\"aligncenter size-large wp-image-6173\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/GBPCHF-W-21062015-1024x541.png\" alt=\"GBPCHF W 21062015\" width=\"1024\" height=\"541\" /></a>\r\n\r\n&nbsp;\r\n\r\nNZD/CHF (MONTHLY):\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/NZDCHF-M-21062015.png\"><img class=\"aligncenter size-large wp-image-6171\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/NZDCHF-M-21062015-1024x541.png\" alt=\"NZDCHF M 21062015\" width=\"1024\" height=\"541\" /></a>\r\n\r\n&nbsp;\r\n\r\n<u>4.7 - MAJOR TRADING PAIRS WITH LONGER-TERM TRENDS MATCHING:</u>\r\n\r\n(The following currency pairs have Short Term (DAILY), Medium Term (WEEKLY) and Long Term (MONTHLY) charts all trending in the same direction).\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/PS-TRENDING-PAIRS-21062015.png\"><img class=\"aligncenter size-full wp-image-6167\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/PS-TRENDING-PAIRS-21062015.png\" alt=\"PS TRENDING PAIRS 21062015\" width=\"390\" height=\"522\" /></a>\r\n\r\n<u>4.8 - 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\nAll of my thoughts and my comments relating to each USD major are now contained on the charts.\r\n\r\n<strong><u>EUR/USD: Closing Price 1.1348</u></strong><strong><u> </u></strong>\r\n\r\n<strong><u>\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/EURUSD-W-21062015.png\"><img class=\"aligncenter size-large wp-image-6180\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/EURUSD-W-21062015-1024x541.png\" alt=\"EURUSD W 21062015\" width=\"1024\" height=\"541\" /></a>\r\n</u></strong>\r\n\r\n<strong><u>GBP/USD: Closing Price 1.5875</u></strong>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/GBPUSD-W-21062015.png\"><img class=\"aligncenter size-large wp-image-6179\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/GBPUSD-W-21062015-1024x541.png\" alt=\"GBPUSD W 21062015\" width=\"1024\" height=\"541\" /></a>\r\n\r\n<strong><u>AUD/USD: Closing Price 0.7769</u></strong>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/AUDUSD-W-21062015.png\"><img class=\"aligncenter size-large wp-image-6181\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/AUDUSD-W-21062015-1024x541.png\" alt=\"AUDUSD W 21062015\" width=\"1024\" height=\"541\" /></a>\r\n\r\n<strong><u>NZD/USD: Closing Price 0.6908</u></strong><u>  </u>\r\n\r\n&nbsp;\r\n\r\n<u><a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/NZDUSD-W-21062015.png\"><img class=\"aligncenter size-large wp-image-6178\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/NZDUSD-W-21062015-1024x541.png\" alt=\"NZDUSD W 21062015\" width=\"1024\" height=\"541\" /></a> </u>\r\n\r\n<strong><u>USD/CAD: Closing Price 1.2267</u></strong><u>   </u>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/USDCAD-W-21062015.png\"><img class=\"aligncenter size-large wp-image-6177\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/USDCAD-W-21062015-1024x541.png\" alt=\"USDCAD W 21062015\" width=\"1024\" height=\"541\" /></a>\r\n\r\n<strong><u>USD/CHF: Closing Price 0.9172</u></strong>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/USDCHF-W-21062015.png\"><img class=\"aligncenter size-large wp-image-6176\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/USDCHF-W-21062015-1024x541.png\" alt=\"USDCHF W 21062015\" width=\"1024\" height=\"541\" /></a>\r\n\r\n&nbsp;\r\n\r\n<strong><u>USD/JPY: Closing Price 122.66 </u></strong><u> </u>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/USDJPY-W-21062015.png\"><img class=\"aligncenter size-large wp-image-6175\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/USDJPY-W-21062015-1024x541.png\" alt=\"USDJPY W 21062015\" width=\"1024\" height=\"541\" /></a>\r\n<ol start=\"5\">\r\n	<li><strong><u>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\nPersonally, I am going to continue my recent short-term plan of trading very light, I see no reason to change until the GREECE situation is resolved. This is a slow week for economic data and therefore we FX traders will be held captive by equities to some extend.\r\n\r\nWatch OIL this week; I see moves afoot with this commodity and GOLD as well. There is no reason at all to hold GOLD at the moment in my opinion. With these two commodities looking under pressure in my opinion, this will help the USD. Watch the DXY for a move towards 97.00 / 98.00 again. However, again it’s all about the reaction to the GREECE situation and the CONTAGION effect.\r\n\r\nWith high-risk news on the imminent horizon it is now in my mind, even more important to stick to core trading principles.\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 June 21st 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.','THE EMPIRE STRIKES BACK','','inherit','open','closed','','6184-revision-v1','','','2015-06-20 11:51:30','2015-06-20 16:51:30','',6184,'https://weeklyfxdrivethru.com/6184-revision-v1/',0,'revision','',0),(6186,1,'2015-06-20 11:53:24','2015-06-20 16:53:24','<h3 style=\"text-align: center;\"><strong>THE PREMIUM SERVICE\r\n</strong><strong>The Home of Single-Lot Trading\r\nwww.weeklyfxdrivethru.co</strong></h3>\r\n<strong>DATE: 21.06.2015\r\nREFERENCE: #65\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\n1.1.1 - OVERVIEW:\r\n\r\nI felt like I was not really working last week. I only opened and closed 6 trades all week. 5 were positive trades the other lost money, the next result was more pips added to the PREMIUM SERVICE account plus the other accounts I manage.\r\n\r\nOne should never complain about adding pips on a weekly basis, as it is money in and not out of your broker account. However, like I said in the blog last week, I feel in a similar position to a death row prisoner in the sense that you know something is going to happen but you are just sitting back waiting for the inevitable. In my case, not death but the conclusion (maybe just for now) of the ongoing GREECE fiasco.\r\n\r\nHopefully to be proved correct, I see this as a major volatility news event and I do not want 10-15 trades in play as the news of whatever it is going to be hits the newswires, plus prior to the news breaking, we have to remember we are dealing with the EUROZONE; the home of the misleading sound byte, quote and the originator of the buy the rumour sell the news reaction. These latter reasons are why I am really not participating in the markets at the moment and I am being ultra selective on entry levels and pairs to trade.\r\n\r\nAll the above being said…nothing has changed from last week apart from the FOMC. This I will tackle next.\r\n\r\n&nbsp;\r\n\r\n1.1.2 – FOMC:\r\n\r\nWhat can I say?\r\n\r\nThe time I thought that leadership from the FOMC would come through, all I saw was the same old same old. I am now in the camp of the FED does NOT believe the credibility or the accuracy of the statistics produced. This data dependent stance has just rolled on far too long in my opinion and quite honestly the whole scenario is quickly turning into a “West-end” (London Theatre land) stage farce.\r\n\r\nIs the FOMC even afraid to raise rates by even 0.10%? Is the U.S. economy that fragile?\r\n\r\nI am finding the Janet Yellen dovish approach so behind the curve the FED is in danger of looking like bigger “numpties” than their counter-parts at the ECB, and for me to say that is huge!\r\n\r\nI think with Yellen and her committee we have in the FOMC a collection of ditherers. The only possible reason that I think that the FOMC is holding back on the rate increase is because they want to try to set up a positive final quarter of the year by increasing rates in Q4 (September / October) at a time when the U.S. economy is more robust. If this is not the reason we do have a collection of ditherers in my opinion.\r\n\r\n&nbsp;\r\n\r\n1.1.2 – GREECE:\r\n\r\nI have to mention GREECE. However, like many people who write articles or blogs I am running out of fresh things to say.\r\n\r\nThe one snippet of news that I did pick up on was the comment about the GREEK banks not opening on Monday 22<sup>nd</sup> June. It was very quickly denied. There is no doubt that banks have been seeing cash being moved away from GREECE in the millions (the smart money left months ago) and as I have stated very clearly for months, the first step before the default are CAPITAL CONTROLS, I believe we are almost there.\r\n\r\nThe rhetoric is high on emotion now. This exasperated position will only get worse. Remember, we are dealing with politicians who need their egos cuddled on a regular basis. They are NOT problem solvers; politicians like to blame other politicians. They do NOT accept responsibility for anything.\r\n\r\nTo be a politician in most countries around the world gets the membership of a society similar to the FREEMASONS, but instead of the secret handshake, politicians are stripped naked (not a pretty sight) and coated, or as they would say anointed in Teflon.\r\n\r\nWith this in mind watch for the blame game to start. Be aware when this starts we will know that there is no solution, good or half-assed, not even a can-kicking solution, we will have a default.\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n<u>1.2 - LOOKING FORWARDS:</u>\r\n\r\n<u>1.2.1 - 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: CNY – HSBC Flash Manufacturing PMi.\r\n\r\nTUESDAY: N/A.\r\n\r\nWEDNESDAY: USD – GDP.\r\n\r\nTHURSDAY: NZD – Trade Balance.\r\n\r\nFRIDAY: N/A.\r\n\r\n&nbsp;\r\n\r\n1.2.2 – MY THOUGHTS ON THE NEWS ITEMS THIS COMING WEEK:\r\n\r\nNo much at all interests me with regards to news events this coming week. I expect to have NZD related trades in play so the direct NZD Trade balance data will be of interest plus China data, which directly affects the Kiwi.\r\n\r\nThe only other addition is U.S. GDP for the quarter. It should be a market mover on the basis it may influence the FOMC but with a data dependent scenario in play I strongly suspect Yellen and co will want another quarters result as well.\r\n\r\nTherefore as Forex traders we will be held to ransom by equities and of course GREECE.\r\n\r\n&nbsp;\r\n\r\n<u>1.3 - LOOKING SIDEWAYS (FOR GOOD MEASURE): </u>\r\n\r\nAnother week of gardening leave completed (this is what it feels like) and I have had a lot of time to review my FUNDAMENTAL STRATEGIES moving forward amongst many other related subjects.\r\n\r\nThe FOMC really caught me off guard with regards to their dithering last week over rate hikes. Sure, when you play “join the dots” (with their economic projections) it all looks rosy for a rate hike this year, possibly even two, but when you go into 2016 and 2017, the FOMC are not as confident of further rate increases. This has me a little perplexed.\r\n\r\nI still believe that central bank divergences will come to the forefront and dictate / guide / give the Forex markets some momentum moves looking ahead, but the FOMC dots still give me cause to note. The bottom line is however that the FED is going one way possibly with the UK being hawkish with them, and, the rest of the major central banks are going the other way, accommodative and dovish.\r\n\r\nI am still in the camp that believes supply and demand will win the day when it comes to oil pricing. Maybe the highly speculative market players are taking the summer months when demand is higher to try and squeeze every last drop of greed out of the commodity. Basic economics has to come to the forefront here, supply is well over demand and to balance this out there just has to be a mathematical price adjustment. If there isn’t, my old Economics master from my schooldays will be turning in his grave (I am assuming he is long passed on by now).\r\n\r\nWith these factors in mind my trades are still in play, I just now need to achieve the entry levels I want once GREECE is out of the way.\r\n\r\nLast week I placed my first ARMEGEDDON “Golden” TRADE, which was annotated for my subscribers, and this week I have my second one ready.\r\n\r\nI have spoken with a couple of subscribers over the past few days and in addition to my caution of over-trading it does appear that this is the consensus view on moving forward for many traders at the moment.\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;\"><strong>THE EMPIRE STRIKES BACK</strong></h3>\r\nFor all you Star Wars geeks out there, I am not referring to any movie involving the expertise of George Lucas, and I am NOT referring to characters portrayed in the movies.\r\n\r\nI am referring to good old “blighty”…the UK or from an FX perspective the GBP (Cable).\r\n\r\nCable is on the move, and as most regular readers will confirm, I hate trading the GBP, however, in all honesty I would like to narrow that statement to just the GBP/USD and GBP/JPY. The rest of the GBP related pairs I like trading, my favourite trading pair is by the way the EUR/GBP.\r\n\r\nThe GBP is on the move, this month there have been spectacular moves across the spectrum of GBP related pairs, and thousands of pips of moves have been seen.\r\n\r\nHere is the big question…why is cable on a tear and what trading opportunities are still available, if any, and what are the risks involved over and above the usual day to day risks in trading Forex?\r\n\r\nI intend not to ramble on here about economics, I covered economics for long enough in my younger years, I found it interesting, many did not, it can be boring I admit. I am now a trader I will focus more on the FX opportunities; however, we need to understand just briefly why the UK is in good shape.\r\n\r\nFrom the beginning, the UK’s biggest trading partner is the EUROZONE, but the UK is more of a services economy and a production / industrial economy. The UK does manufacture, it does produce finished goods, but it is a world hub for Finance and Insurance. Here lies a huge benefit over its closest trading partner. The EUROZONE is more of an industrial producer/ exporter.\r\n\r\nThe service sector generally will always stay more consistent than manufacturing, which has swings associated with it as peoples purchasing can be seasonal.\r\n\r\nIn addition, the UK took Quantitative Easing (QE) steps to support its economy immediately during the Financial Crash of 2008-09 as well as austerity measures, and the two economies that took the QE route from the get go, the U.S. and the UK are the stronger economies now looking to raise rates rather than say the EUROZONE whose initial approach for 7 years was to drive the spike of austerity through the heart of EUROPE and it really failed. Now they are just into the QE route, in my opinion at least 2/3 years behind and chasing as fast as it can given its issues.\r\n\r\nLooking at some economic data, I have provided at a very high level some interesting comparisons looking at the UK versus the Euro Area in general and individual EUROZONE members and there are some interesting comparisons.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/UK-EZ-FIN-COMPARISONS-21062015.png\"><img class=\"aligncenter size-full wp-image-6154\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/UK-EZ-FIN-COMPARISONS-21062015.png\" alt=\"UK-EZ FIN COMPARISONS 21062015\" width=\"783\" height=\"390\" /></a>\r\n\r\n&nbsp;\r\n\r\nObviously, I can drone on for hours about the statistics in the chart above. I am NOT an economist. My views and thoughts may not be what an economist looks for; they are what I look for as a Forex trader.\r\n<ol>\r\n	<li><strong><u> HOUSING</u></strong> (buoyant housing = spending and Spending = growth)</li>\r\n</ol>\r\nThe UK housing index is on fire compared to the EUROZONE average.\r\n\r\n<strong>   2. <span style=\"text-decoration: underline;\">JOBLESS RATE</span></strong>  (the lower the better, the more the government receives in taxes, the more cash is left for the population to spend on goods and services – the circle as I call it)\r\n\r\nThe UK rate is low at 5.50% compared to the EUROZONE average of 11.10%\r\n<ol start=\"3\">\r\n	<li><strong><u> RETAIL SALES</u></strong> (the more spent = the more is ordered / good for jobs as well)</li>\r\n</ol>\r\nThe UK is at 4.60% the EUROZONE average is at 2.6%\r\n<ol start=\"4\">\r\n	<li><strong><u> PRODUCER PRICES</u></strong> if these rise = nice lift for inflation / GDP, it shows economic growth)</li>\r\n</ol>\r\nThe UK is at 107.10 ahead of the EUROZONE average of 104.80.\r\n<ol start=\"5\">\r\n	<li><strong><u> CONSUMER PRICE INDEX (CPi)</u></strong> (rises = good for inflation and GDP and economic growth)</li>\r\n</ol>\r\nThe UK is at 128.20 compared to the EUROZONE average of 121.30.\r\n\r\nThe 5 points above to me are a fair indicator why the GBP is a bullish currency at the moment. Add to this a recent election win for the Conservatives, that gives David Cameron another 4 years in office and there is now political stability as a result. This is good for the markets.\r\n\r\nThis is the backdrop to why I believe the GBP is a well-supported currency. You can argue it\'s the best looking in an ugly contest, but there are and we have to admit it some compelling reasons why investors would look to the UK.\r\n\r\nMoving on… let me look at the Forex opportunities.\r\n\r\nGBP/USD: The monthly chart below, shows that right now the GBP/USD has been struggling with the 50% retracement (1.5865) of the 2014 highs to the 2015 lows.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/GBPUSD-EMPIRE-STRIKES-BACK-M-21062015.png\"><img class=\"aligncenter size-large wp-image-6155\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/GBPUSD-EMPIRE-STRIKES-BACK-M-21062015-1024x541.png\" alt=\"GBPUSD EMPIRE STRIKES BACK M 21062015\" width=\"1024\" height=\"541\" /></a>\r\n\r\nFor my perspective a break here and then through the psychological 1.6000 level takes us to the 61.8% retracement at 1.6177 and this is where I expect the line in the sand of whether we have a true move higher will be measured. Not that I do not think that the 800 pip move this month from the lows of the 23.6% Fibonacci level of 1.5166 to todays highs around 1.5900 is no mean feat; it is a very bullish move indeed. With the FOMC dithering the potential for further gains are available.\r\n\r\nCan we get a full 100% retracement absolutely, will we?\r\n\r\nAsking another 1200 pips through the summer months when trading is slow and with an expectant U.S. rate hike in September may be a tall order. The BOE under the leadership of Mark “I like to backtrack my statements” Carney, has indicated that an interest rate rise in the UK is on the way but the smart money has 2016 earmarked. In reality it would be a brave man, maybe a fool, if the BOE were to raise rates ahead of the FED.\r\n\r\nMaybe a realistic target for the GBP/USD is 1.6500 by the summer’s end but that is also asking about 500 pips from last weeks close at 1.5875.\r\n\r\nPrice action with the cable also revolves around price action with the EURO. We must also bear in mind the very influential EUR/GBP cross-rate. This pair is very liquid to trade and should never be under-estimated with its effect on both the EUR and GBP.\r\n\r\nWith the EUROZONE about to be severely tested with the GREECE exit and default etc., price action with the EUR/USD and EUR/GBP could very heavily influence price movements with the GBP/USD. Having said that it could remain somewhat stagnant as I expect the commodity currencies to be hit quite hard placing pressure on the AUD, NZD and the CAD.\r\n\r\nThis will have a cross-rate effect through the GBP crosses, the GBP/AUD, GBP/CAD, and GBP/NZD in particular, all of which could be bullish and pop higher in a risk off situation. But the net effect could be that the GBP/USD stays reasonably elevated without much of a trade off.\r\n\r\nThe charts below (they have no commentary on them just the levels) show the monthly upside moves this month alone so far from the GBP crosses; the highlights of the pip moves are as follows:\r\n\r\nGBP/JPY – 744 pips\r\n\r\nGBP/AUD - 931 pips\r\n\r\nGBP/CAD – 687 pips\r\n\r\nGBP/NZD – 1,757 pips\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/GBPAUD-EMPIRE-STRIKES-BACK-M-21062015.png\"><img class=\"aligncenter size-large wp-image-6159\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/GBPAUD-EMPIRE-STRIKES-BACK-M-21062015-1024x541.png\" alt=\"GBPAUD EMPIRE STRIKES BACK  M 21062015\" width=\"1024\" height=\"541\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/GBPCAD-EMPIRE-STRIKES-BACK-M-21062015.png\"><img class=\"aligncenter size-large wp-image-6158\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/GBPCAD-EMPIRE-STRIKES-BACK-M-21062015-1024x541.png\" alt=\"GBPCAD EMPIRE STRIKES BACK  M 21062015\" width=\"1024\" height=\"541\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/GBPJPY-EMPIRE-STRIKES-BACK-M-21062015.png\"><img class=\"aligncenter size-large wp-image-6157\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/GBPJPY-EMPIRE-STRIKES-BACK-M-21062015-1024x541.png\" alt=\"GBPJPY EMPIRE STRIKES BACK M 21062015\" width=\"1024\" height=\"541\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/GBPNZD-EMPIRE-STRIKES-BACK-M-21062015.png\"><img class=\"aligncenter size-large wp-image-6156\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/GBPNZD-EMPIRE-STRIKES-BACK-M-21062015-1024x541.png\" alt=\"GBPNZD EMPIRE STRIKES BACK M 21062015\" width=\"1024\" height=\"541\" /></a>\r\n\r\n&nbsp;\r\n\r\nBy any stretch of the imagination, these pip gains in the above pairs this month so far are spectacular, and well above the Monthly Average True Range normal.\r\n\r\nTherefore, the wider picture is YES…. THE EMPIRE CAN STRIKE BACK…FURTHER but through the cross-rate pairs and maybe not through the GBP/USD which, move a little but, the great unwind trades since the Financial crash could be coming to the forefront via the GBP crosses. With these cross-rate pairs there are thousands of pips available, if the moves gain traction.\r\n\r\nJust imagine the effect on the commodity cross-rate pairs if we had an equity market sell off. If we think the move this month has been explosive, as Bachman Turner Overdrive once said… “You ain’t seen nothin’ yet.\r\n\r\nPREMIUM SERVICE subscribers already know that I am constantly looking at these pairs for entries, there are STILL thousands of unwinding pips still out there with the GBP commodity crosses, and do not forget the EUR crosses as well in a “RISK OFF” environment.\r\n\r\nMaybe its time for me to consider not to hate trading cable again?\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 - 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 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\n\r\n10 weeks / 3 months:               USD $295.00\r\n\r\n20 weeks / 6 months:               USD $495.00\r\n\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>PLEASE NOTE:</u>\r\n\r\nDuring the summer from July 25<sup>th</sup> through to September 5<sup>th</sup> 2015, there will not be any WEEKLY FX DRIVE THRU blogs and PREMIUM SERVICE trading will be minimal due to slow markets. Subscribers will still be advised of trades, if any, but typically there are very few. Subscription periods DO NOT count the weeks when there is no blog.\r\n\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):</u>\r\n\r\n&nbsp;\r\n\r\nEMANATING FROM TRADE SET-UPS - 2015 to date:\r\n\r\n<u>MICRO LOT TRADER</u> - 407 trades cost to trade = $40.70\r\n<strong>PROFIT</strong> from 407 trades = <strong><u>$594.60</u></strong>\r\n\r\n<u>MINI LOT TRADER</u> - 407 trades cost to trade = $407.00\r\n<strong>PROFIT</strong> from 407 trades = <strong><u>$5,946.00</u></strong>\r\n\r\n<u>STANDARD LOT TRADER</u> - 407 trades cost to trade = $4,070.00\r\n<strong>PROFIT</strong> from 407 trades = <strong><u>$59,460.00</u></strong>\r\n\r\nIf the above return from Forex Trading interests you go to\r\n\r\n<a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a> and check out the subscription options under the tab “PREMIUM SERVICE”.\r\n\r\nThe performance above is based off single-lot trade sizes.\r\n\r\nTHE PREMIUM SERVICE has subscribers with broker accounts of sizes ranging from $2,500 to over $100,000.\r\n\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.\r\n\r\n&nbsp;\r\n\r\n<u>3.2.2 – PREMIUM SERVICE - TRADE SUMMARY DETAILS MONTH &amp; YTD:</u>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/PS-PROFITS1-21062015.png\"><img class=\"aligncenter size-full wp-image-6165\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/PS-PROFITS1-21062015.png\" alt=\"PS PROFITS1 21062015\" width=\"453\" height=\"420\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/PS-PROFITS2-21062015.png\"><img class=\"aligncenter size-full wp-image-6166\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/PS-PROFITS2-21062015.png\" alt=\"PS PROFITS2 21062015\" width=\"460\" height=\"416\" /></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 after the summer break.\r\n\r\n<u>4.2 – THE PREMIUM SERVICE – TRADING REVIEW &amp; LOOKING FORWARD:</u>\r\n\r\nJust the 6 trades in the past week., with 5 of them being opportunist FLASH TRADES. The PREMIUM SERVICE broker accounts are moving up each week, but at a slower rate than usual.\r\n\r\nAs traders we just have to accept that at certain times some of our best trades are in fact, when we choose not to trade. As I have written so many times and I know, one or two of you are tired of reading this but its all about RISK MANAGEMENT.\r\n\r\nIn my opinion, at the moment, it is a situation when the risks associated with trading are too high and that is why a greater filtration policy is in place when it comes down to currency pairs to trade and what type of trades are entered into. From my experience of trading for eight years now I have learned that, difficult as it is, patience is one of the best trader traits to have and it does pay off over time. I know its frustrating and sometimes you let huge moves pass you by, like recently the GBP/NZD, GBP/CAD, GBP/CAD and AUD/NZD, but try to take some comfort in the fact that there is a Forex market everyday and for around 90% of the days there are opportunities to make pips.\r\n\r\nI am uncomfortable placing my longer-term FUNDAMENTAL trades until GREECE is resolved one way or another, but I am looking at the following trading pairs: -\r\n\r\nSHORT: NZD/USD, EUR/GBP and NZD/CHF.\r\n\r\nLONG: AUD/NZD, GBP/CAD, GBP/AUD, GBP/NZD, EUR/AUD, EUR/CAD, EUR/NZD, USD/CHF, USD/CAD and EUR/CHF.\r\n\r\nI will not be taking 13 trades as listed above; well I do not think so. However, there will be a combination of trades spread between longer-term FUNDAMENTAL TRADES and at the same time with the same currency pairs some shorter term swing style trades (RADAR TRADES).\r\n\r\nI have charts set up and I keep updating them each week. I am ready to go with the trades; it will be all about trying to obtain the best entries.\r\n\r\n&nbsp;\r\n\r\n<u>4.3 - THE PREMIUM SERVICE - EXISTING LIVE TRADES:</u>\r\n\r\nThere are currently no LIVE trades.<u> </u>\r\n\r\n<u>4.4 - THE PREMIUM SERVICE – EXISTING LIMIT ORDERS:</u>\r\n\r\n(Remember 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<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/LIMIT-ORDERS-21062015.png\"><img class=\"aligncenter size-full wp-image-6168\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/LIMIT-ORDERS-21062015.png\" alt=\"LIMIT ORDERS 21062015\" width=\"703\" height=\"444\" /></a>\r\n\r\n<u>4.5 – ARMEGEDDON “GOLDEN” TRADES:</u>\r\n\r\n(Emanating from conversations and requested by fellow subscribers these trade set-ups are based on severe market pullbacks, breakouts or breakdowns. These trades would apply after major geopolitical news has hit the news wires. These are also trade levels that provided great set ups in the past that would hopefully represent great entry opportunities again in the future).\r\n\r\nGOLDEN TRADE #002\r\n\r\nEUR/GBP:\r\nEnter short at 0.7380\r\n\r\nThe weekly chart below shows this level of 0.7380 to have been a point of interest on about 5 or 6 times recently.\r\n\r\nI see this as my favoured entry position going short looking at a move to at least the 161.8% Fibonacci extension level of 0.6785.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/GOLDEN-TRADE-2-D-EURGBP-21062015.png\"><img class=\"aligncenter size-large wp-image-6169\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/GOLDEN-TRADE-2-D-EURGBP-21062015-1024x541.png\" alt=\"GOLDEN TRADE #2 D EURGBP 21062015\" width=\"1024\" height=\"541\" /></a>\r\n\r\n<u>4.6 - 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 am still very light on trades and therefore, there are only a few charts to look at this week. You may also notice they are not involving the USD. All of my comments are contained on the charts.\r\n\r\n(These are of course in addition to the GBP and EUR crosses alluded to earlier in the blog)\r\n\r\nNZD/USD (MONTHLY):\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/NZDUSD-M-21062015.png\"><img class=\"aligncenter size-large wp-image-6170\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/NZDUSD-M-21062015-1024x541.png\" alt=\"NZDUSD M 21062015\" width=\"1024\" height=\"541\" /></a>\r\n\r\n&nbsp;\r\n\r\nAUD/NZD (60 MINUTES):\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/AUDNZD-60M-21062015.png\"><img class=\"aligncenter size-large wp-image-6174\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/AUDNZD-60M-21062015-1024x541.png\" alt=\"AUDNZD 60M 21062015\" width=\"1024\" height=\"541\" /></a>\r\n\r\n&nbsp;\r\n\r\nNZD/CAD (MONTHLY):\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/NZDCAD-M-21062015.png\"><img class=\"aligncenter size-large wp-image-6172\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/NZDCAD-M-21062015-1024x541.png\" alt=\"NZDCAD M 21062015\" width=\"1024\" height=\"541\" /></a>\r\n\r\n&nbsp;\r\n\r\nGBP/CHF (WEEKLY):\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/GBPCHF-W-21062015.png\"><img class=\"aligncenter size-large wp-image-6173\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/GBPCHF-W-21062015-1024x541.png\" alt=\"GBPCHF W 21062015\" width=\"1024\" height=\"541\" /></a>\r\n\r\n&nbsp;\r\n\r\nNZD/CHF (MONTHLY):\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/NZDCHF-M-21062015.png\"><img class=\"aligncenter size-large wp-image-6171\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/NZDCHF-M-21062015-1024x541.png\" alt=\"NZDCHF M 21062015\" width=\"1024\" height=\"541\" /></a>\r\n\r\n&nbsp;\r\n\r\n<u>4.7 - MAJOR TRADING PAIRS WITH LONGER-TERM TRENDS MATCHING:</u>\r\n\r\n(The following currency pairs have Short Term (DAILY), Medium Term (WEEKLY) and Long Term (MONTHLY) charts all trending in the same direction).\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/PS-TRENDING-PAIRS-21062015.png\"><img class=\"aligncenter size-full wp-image-6167\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/PS-TRENDING-PAIRS-21062015.png\" alt=\"PS TRENDING PAIRS 21062015\" width=\"390\" height=\"522\" /></a>\r\n\r\n<u>4.8 - 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\nAll of my thoughts and my comments relating to each USD major are now contained on the charts.\r\n\r\n<strong><u>EUR/USD: Closing Price 1.1348</u></strong><strong><u> </u></strong>\r\n\r\n<strong><u>\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/EURUSD-W-21062015.png\"><img class=\"aligncenter size-large wp-image-6180\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/EURUSD-W-21062015-1024x541.png\" alt=\"EURUSD W 21062015\" width=\"1024\" height=\"541\" /></a>\r\n</u></strong>\r\n\r\n<strong><u>GBP/USD: Closing Price 1.5875</u></strong>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/GBPUSD-W-21062015.png\"><img class=\"aligncenter size-large wp-image-6179\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/GBPUSD-W-21062015-1024x541.png\" alt=\"GBPUSD W 21062015\" width=\"1024\" height=\"541\" /></a>\r\n\r\n<strong><u>AUD/USD: Closing Price 0.7769</u></strong>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/AUDUSD-W-21062015.png\"><img class=\"aligncenter size-large wp-image-6181\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/AUDUSD-W-21062015-1024x541.png\" alt=\"AUDUSD W 21062015\" width=\"1024\" height=\"541\" /></a>\r\n\r\n<strong><u>NZD/USD: Closing Price 0.6908</u></strong><u>  </u>\r\n\r\n&nbsp;\r\n\r\n<u><a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/NZDUSD-W-21062015.png\"><img class=\"aligncenter size-large wp-image-6178\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/NZDUSD-W-21062015-1024x541.png\" alt=\"NZDUSD W 21062015\" width=\"1024\" height=\"541\" /></a> </u>\r\n\r\n<strong><u>USD/CAD: Closing Price 1.2267</u></strong><u>   </u>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/USDCAD-W-21062015.png\"><img class=\"aligncenter size-large wp-image-6177\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/USDCAD-W-21062015-1024x541.png\" alt=\"USDCAD W 21062015\" width=\"1024\" height=\"541\" /></a>\r\n\r\n<strong><u>USD/CHF: Closing Price 0.9172</u></strong>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/USDCHF-W-21062015.png\"><img class=\"aligncenter size-large wp-image-6176\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/USDCHF-W-21062015-1024x541.png\" alt=\"USDCHF W 21062015\" width=\"1024\" height=\"541\" /></a>\r\n\r\n&nbsp;\r\n\r\n<strong><u>USD/JPY: Closing Price 122.66 </u></strong><u> </u>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/USDJPY-W-21062015.png\"><img class=\"aligncenter size-large wp-image-6175\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/USDJPY-W-21062015-1024x541.png\" alt=\"USDJPY W 21062015\" width=\"1024\" height=\"541\" /></a>\r\n<ol start=\"5\">\r\n	<li><strong><u>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\nPersonally, I am going to continue my recent short-term plan of trading very light, I see no reason to change until the GREECE situation is resolved. This is a slow week for economic data and therefore we FX traders will be held captive by equities to some extend.\r\n\r\nWatch OIL this week; I see moves afoot with this commodity and GOLD as well. There is no reason at all to hold GOLD at the moment in my opinion. With these two commodities looking under pressure in my opinion, this will help the USD. Watch the DXY for a move towards 97.00 / 98.00 again. However, again it’s all about the reaction to the GREECE situation and the CONTAGION effect.\r\n\r\nWith high-risk news on the imminent horizon it is now in my mind, even more important to stick to core trading principles.\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 June 21st 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.','THE EMPIRE STRIKES BACK','','inherit','open','closed','','6184-revision-v1','','','2015-06-20 11:53:24','2015-06-20 16:53:24','',6184,'https://weeklyfxdrivethru.com/6184-revision-v1/',0,'revision','',0);
INSERT INTO `vp_backup_wp_posts` VALUES (6190,1,'2015-06-20 12:22:17','2015-06-20 17:22:17','<h2 style=\"text-align: center;\"><strong>THE PREMIUM SERVICE\r\n</strong><strong>The Home of Single-Lot Trading\r\nwww.weeklyfxdrivethru.com</strong></h2>\r\n<strong>DATE: 21.06.2015\r\nREFERENCE: #158\r\n</strong><strong>BLOG: THE WEEKLY FX DRIVE THRU</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\n1.1.1 - OVERVIEW:\r\n\r\nI felt like I was not really working last week. I only opened and closed 6 trades all week. 5 were positive trades the other lost money, the next result was more pips added to the PREMIUM SERVICE account plus the other accounts I manage.\r\n\r\nOne should never complain about adding pips on a weekly basis, as it is money in and not out of your broker account. However, like I said in the blog last week, I feel in a similar position to a death row prisoner in the sense that you know something is going to happen but you are just sitting back waiting for the inevitable. In my case, not death but the conclusion (maybe just for now) of the ongoing GREECE fiasco.\r\n\r\nHopefully to be proved correct, I see this as a major volatility news event and I do not want 10-15 trades in play as the news of whatever it is going to be hits the newswires, plus prior to the news breaking, we have to remember we are dealing with the EUROZONE; the home of the misleading sound byte, quote and the originator of the buy the rumour sell the news reaction. These latter reasons are why I am really not participating in the markets at the moment and I am being ultra selective on entry levels and pairs to trade.\r\n\r\nAll the above being said…nothing has changed from last week apart from the FOMC. This I will tackle next.\r\n\r\n&nbsp;\r\n\r\n1.1.2 – FOMC:\r\n\r\nWhat can I say?\r\n\r\nThe time I thought that leadership from the FOMC would come through, all I saw was the same old same old. I am now in the camp of the FED does NOT believe the credibility or the accuracy of the statistics produced. This data dependent stance has just rolled on far too long in my opinion and quite honestly the whole scenario is quickly turning into a “West-end” (London Theatre land) stage farce.\r\n\r\nIs the FOMC even afraid to raise rates by even 0.10%? Is the U.S. economy that fragile?\r\n\r\nI am finding the Janet Yellen dovish approach so behind the curve the FED is in danger of looking like bigger “numpties” than their counter-parts at the ECB, and for me to say that is huge!\r\n\r\nI think with Yellen and her committee we have in the FOMC a collection of ditherers. The only possible reason that I think that the FOMC is holding back on the rate increase is because they want to try to set up a positive final quarter of the year by increasing rates in Q4 (September / October) at a time when the U.S. economy is more robust. If this is not the reason we do have a collection of ditherers in my opinion.\r\n\r\n&nbsp;\r\n\r\n1.1.2 – GREECE:\r\n\r\nI have to mention GREECE. However, like many people who write articles or blogs I am running out of fresh things to say.\r\n\r\nThe one snippet of news that I did pick up on was the comment about the GREEK banks not opening on Monday 22<sup>nd</sup> June. It was very quickly denied. There is no doubt that banks have been seeing cash being moved away from GREECE in the millions (the smart money left months ago) and as I have stated very clearly for months, the first step before the default are CAPITAL CONTROLS, I believe we are almost there.\r\n\r\nThe rhetoric is high on emotion now. This exasperated position will only get worse. Remember, we are dealing with politicians who need their egos cuddled on a regular basis. They are NOT problem solvers; politicians like to blame other politicians. They do NOT accept responsibility for anything.\r\n\r\nTo be a politician in most countries around the world gets the membership of a society similar to the FREEMASONS, but instead of the secret handshake, politicians are stripped naked (not a pretty sight) and coated, or as they would say anointed in Teflon.\r\n\r\nWith this in mind watch for the blame game to start. Be aware when this starts we will know that there is no solution, good or half-assed, not even a can-kicking solution, we will have a default.\r\n\r\n&nbsp;\r\n\r\n<u>1.2 - LOOKING FORWARDS:</u>\r\n\r\n<u>1.2.1 - 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: CNY – HSBC Flash Manufacturing PMi.\r\n\r\nTUESDAY: N/A.\r\n\r\nWEDNESDAY: USD – GDP.\r\n\r\nTHURSDAY: NZD – Trade Balance.\r\n\r\nFRIDAY: N/A.\r\n\r\n&nbsp;\r\n\r\n1.2.2 – MY THOUGHTS ON THE NEWS ITEMS THIS COMING WEEK:\r\n\r\nNo much at all interests me with regards to news events this coming week. I expect to have NZD related trades in play so the direct NZD Trade balance data will be of interest plus China data, which directly affects the Kiwi.\r\n\r\nThe only other addition is U.S. GDP for the quarter. It should be a market mover on the basis it may influence the FOMC but with a data dependent scenario in play I strongly suspect Yellen and co will want another quarters result as well.\r\n\r\nTherefore as Forex traders we will be held to ransom by equities and of course GREECE.\r\n\r\n&nbsp;\r\n\r\n<u>1.3 - LOOKING SIDEWAYS (FOR GOOD MEASURE): </u>\r\n\r\nAnother week of gardening leave completed (this is what it feels like) and I have had a lot of time to review my FUNDAMENTAL STRATEGIES moving forward amongst many other related subjects.\r\n\r\nThe FOMC really caught me off guard with regards to their dithering last week over rate hikes. Sure, when you play “join the dots” (with their economic projections) it all looks rosy for a rate hike this year, possibly even two, but when you go into 2016 and 2017, the FOMC are not as confident of further rate increases. This has me a little perplexed.\r\n\r\nI still believe that central bank divergences will come to the forefront and dictate / guide / give the Forex markets some momentum moves looking ahead, but the FOMC dots still give me cause to note. The bottom line is however that the FED is going one way possibly with the UK being hawkish with them, and, the rest of the major central banks are going the other way, accommodative and dovish.\r\n\r\nI am still in the camp that believes supply and demand will win the day when it comes to oil pricing. Maybe the highly speculative market players are taking the summer months when demand is higher to try and squeeze every last drop of greed out of the commodity. Basic economics has to come to the forefront here, supply is well over demand and to balance this out there just has to be a mathematical price adjustment. If there isn’t, my old Economics master from my schooldays will be turning in his grave (I am assuming he is long passed on by now).\r\n\r\nWith these factors in mind my trades are still in play, I just now need to achieve the entry levels I want once GREECE is out of the way.\r\n\r\nLast week I placed my first ARMEGEDDON “Golden” TRADE, which was annotated for my subscribers, and this week I have my second one ready.\r\n\r\nI have spoken with a couple of subscribers over the past few days and in addition to my caution of over-trading it does appear that this is the consensus view on moving forward for many traders at the moment.\r\n\r\n&nbsp;\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>THE EMPIRE STRIKES BACK</strong></span></h3>\r\nFor all you Star Wars geeks out there, I am not referring to any movie involving the expertise of George Lucas, and I am NOT referring to characters portrayed in the movies.\r\n\r\nI am referring to good old “blighty”…the UK or from an FX perspective the GBP (Cable).\r\n\r\nCable is on the move, and as most regular readers will confirm, I hate trading the GBP, however, in all honesty I would like to narrow that statement to just the GBP/USD and GBP/JPY. The rest of the GBP related pairs I like trading, my favourite trading pair is by the way the EUR/GBP.\r\n\r\nThe GBP is on the move, this month there have been spectacular moves across the spectrum of GBP related pairs, and thousands of pips of moves have been seen.\r\n\r\nHere is the big question…why is cable on a tear and what trading opportunities are still available, if any, and what are the risks involved over and above the usual day to day risks in trading Forex?\r\n\r\nI intend not to ramble on here about economics, I covered economics for long enough in my younger years, I found it interesting, many did not, it can be boring I admit. I am now a trader I will focus more on the FX opportunities; however, we need to understand just briefly why the UK is in good shape.\r\n\r\nFrom the beginning, the UK’s biggest trading partner is the EUROZONE, but the UK is more of a services economy and a production / industrial economy. The UK does manufacture, it does produce finished goods, but it is a world hub for Finance and Insurance. Here lies a huge benefit over its closest trading partner. The EUROZONE is more of an industrial producer/ exporter.\r\n\r\nThe service sector generally will always stay more consistent than manufacturing, which has swings associated with it as peoples purchasing can be seasonal.\r\n\r\nIn addition, the UK took Quantitative Easing (QE) steps to support its economy immediately during the Financial Crash of 2008-09 as well as austerity measures, and the two economies that took the QE route from the get go, the U.S. and the UK are the stronger economies now looking to raise rates rather than say the EUROZONE whose initial approach for 7 years was to drive the spike of austerity through the heart of EUROPE and it really failed. Now they are just into the QE route, in my opinion at least 2/3 years behind and chasing as fast as it can given its issues.\r\n\r\nLooking at some economic data, I have provided at a very high level some interesting comparisons looking at the UK versus the Euro Area in general and individual EUROZONE members and there are some interesting comparisons.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/UK-EZ-FIN-COMPARISONS-21062015.png\"><img class=\"aligncenter size-full wp-image-6154\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/UK-EZ-FIN-COMPARISONS-21062015.png\" alt=\"UK-EZ FIN COMPARISONS 21062015\" width=\"783\" height=\"390\" /></a>\r\n\r\n&nbsp;\r\n\r\nObviously, I can drone on for hours about the statistics in the chart above. I am NOT an economist. My views and thoughts may not be what an economist looks for; they are what I look for as a Forex trader.\r\n<ol>\r\n	<li><strong><u> HOUSING</u></strong> (buoyant housing = spending and Spending = growth)</li>\r\n</ol>\r\nThe UK housing index is on fire compared to the EUROZONE average.\r\n\r\n<strong>     </strong>2<strong>. <span style=\"text-decoration: underline;\">JOBLESS RATE</span></strong> (the lower the better, the more the government receives in taxes, the more cash is left for the population to spend on goods and services – the circle as I call it)\r\n\r\nThe UK rate is low at 5.50% compared to the EUROZONE average of 11.10%\r\n<ol start=\"3\">\r\n	<li><strong><u> RETAIL SALES</u></strong> (the more spent = the more is ordered / good for jobs as well)</li>\r\n</ol>\r\nThe UK is at 4.60% the EUROZONE average is at 2.6%\r\n<ol start=\"4\">\r\n	<li><strong><u> PRODUCER PRICES</u></strong> if these rise = nice lift for inflation / GDP, it shows economic growth)</li>\r\n</ol>\r\nThe UK is at 107.10 ahead of the EUROZONE average of 104.80.\r\n<ol start=\"5\">\r\n	<li><strong><u> CONSUMER PRICE INDEX (CPi)</u></strong> (rises = good for inflation and GDP and economic growth)</li>\r\n</ol>\r\nThe UK is at 128.20 compared to the EUROZONE average of 121.30.\r\n\r\n&nbsp;\r\n\r\nThe 5 points above to me are a fair indicator why the GBP is a bullish currency at the moment. Add to this a recent election win for the Conservatives, that gives David Cameron another 4 years in office and there is now political stability as a result. This is good for the markets.\r\n\r\nThis is the backdrop to why I believe the GBP is a well-supported currency. You can argue it\'s the best looking in an ugly contest, but there are and we have to admit it some compelling reasons why investors would look to the UK.\r\n\r\nMoving on… let me look at the Forex opportunities.\r\n\r\nGBP/USD: The monthly chart below, shows that right now the GBP/USD has been struggling with the 50% retracement (1.5865) of the 2014 highs to the 2015 lows.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/GBPUSD-EMPIRE-STRIKES-BACK-M-21062015.png\"><img class=\"aligncenter size-large wp-image-6155\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/GBPUSD-EMPIRE-STRIKES-BACK-M-21062015-1024x541.png\" alt=\"GBPUSD EMPIRE STRIKES BACK M 21062015\" width=\"1024\" height=\"541\" /></a>\r\n\r\n&nbsp;\r\n\r\nFor my perspective a break here and then through the psychological 1.6000 level takes us to the 61.8% retracement at 1.6177 and this is where I expect the line in the sand of whether we have a true move higher will be measured. Not that I do not think that the 800 pip move this month from the lows of the 23.6% Fibonacci level of 1.5166 to todays highs around 1.5900 is no mean feat; it is a very bullish move indeed. With the FOMC dithering the potential for further gains are available.\r\n\r\nCan we get a full 100% retracement absolutely, will we?\r\n\r\nAsking another 1200 pips through the summer months when trading is slow and with an expectant U.S. rate hike in September may be a tall order. The BOE under the leadership of Mark “I like to backtrack my statements” Carney, has indicated that an interest rate rise in the UK is on the way but the smart money has 2016 earmarked. In reality it would be a brave man, maybe a fool, if the BOE were to raise rates ahead of the FED.\r\n\r\nMaybe a realistic target for the GBP/USD is 1.6500 by the summer’s end but that is also asking about 500 pips from last weeks close at 1.5875.\r\n\r\nPrice action with the cable also revolves around price action with the EURO. We must also bear in mind the very influential EUR/GBP cross-rate. This pair is very liquid to trade and should never be under-estimated with its effect on both the EUR and GBP.\r\n\r\nWith the EUROZONE about to be severely tested with the GREECE exit and default etc., price action with the EUR/USD and EUR/GBP could very heavily influence price movements with the GBP/USD. Having said that it could remain somewhat stagnant as I expect the commodity currencies to be hit quite hard placing pressure on the AUD, NZD and the CAD.\r\n\r\nThis will have a cross-rate effect through the GBP crosses, the GBP/AUD, GBP/CAD, and GBP/NZD in particular, all of which could be bullish and pop higher in a risk off situation. But the net effect could be that the GBP/USD stays reasonably elevated without much of a trade off.\r\n\r\nThe charts below (they have no commentary on them just the levels) show the monthly upside moves this month alone so far from the GBP crosses; the highlights of the pip moves are as follows:\r\n\r\nGBP/JPY – 744 pips\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/GBPJPY-EMPIRE-STRIKES-BACK-M-21062015.png\"><img class=\"aligncenter size-large wp-image-6157\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/GBPJPY-EMPIRE-STRIKES-BACK-M-21062015-1024x541.png\" alt=\"GBPJPY EMPIRE STRIKES BACK M 21062015\" width=\"1024\" height=\"541\" /></a>\r\n\r\nGBP/AUD - 931 pips\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/GBPAUD-EMPIRE-STRIKES-BACK-M-21062015.png\"><img class=\"aligncenter size-large wp-image-6159\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/GBPAUD-EMPIRE-STRIKES-BACK-M-21062015-1024x541.png\" alt=\"GBPAUD EMPIRE STRIKES BACK  M 21062015\" width=\"1024\" height=\"541\" /></a>\r\n\r\nGBP/CAD – 687 pips\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/GBPCAD-EMPIRE-STRIKES-BACK-M-21062015.png\"><img class=\"aligncenter size-large wp-image-6158\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/GBPCAD-EMPIRE-STRIKES-BACK-M-21062015-1024x541.png\" alt=\"GBPCAD EMPIRE STRIKES BACK  M 21062015\" width=\"1024\" height=\"541\" /></a>\r\n\r\nGBP/NZD – 1,757 pips\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/GBPNZD-EMPIRE-STRIKES-BACK-M-21062015.png\"><img class=\"aligncenter size-large wp-image-6156\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/GBPNZD-EMPIRE-STRIKES-BACK-M-21062015-1024x541.png\" alt=\"GBPNZD EMPIRE STRIKES BACK M 21062015\" width=\"1024\" height=\"541\" /></a>\r\n\r\n&nbsp;\r\n\r\nBy any stretch of the imagination, these pip gains in the above pairs this month so far are spectacular, and well above the Monthly Average True Range normal.\r\n\r\nTherefore, the wider picture is YES…. THE EMPIRE CAN STRIKE BACK…FURTHER but through the cross-rate pairs and maybe not through the GBP/USD which, move a little but, the great unwind trades since the Financial crash could be coming to the forefront via the GBP crosses. With these cross-rate pairs there are thousands of pips available, if the moves gain traction.\r\n\r\nJust imagine the effect on the commodity cross-rate pairs if we had an equity market sell off. If we think the move this month has been explosive, as Bachman Turner Overdrive once said… “You ain’t seen nothin’ yet”\r\n\r\nPREMIUM SERVICE subscribers already know that I am constantly looking at these pairs for entries, there are STILL thousands of unwinding pips still out there with the GBP commodity crosses, and do not forget the EUR crosses as well in a “RISK OFF” environment.\r\n\r\nMaybe its time for me to consider not to hate trading cable again?\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 - 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\n\r\n10 weeks / 3 months:               USD $295.00\r\n\r\n20 weeks / 6 months:               USD $495.00\r\n\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>PLEASE NOTE:</u>\r\n\r\nDuring the summer from July 25<sup>th</sup> through to September 5<sup>th</sup> 2015, there will not be any WEEKLY FX DRIVE THRU blogs and PREMIUM SERVICE trading will be minimal due to slow markets. Subscribers will still be advised of trades, if any, but typically there are very few. Subscription periods DO NOT count the weeks when there is no blog.\r\n\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;\">EMANATING FROM TRADE SET-UPS - 2015 to date:</p>\r\n<p style=\"text-align: center;\"><u>MICRO LOT TRADER</u> - 407 trades cost to trade = $40.70\r\n<strong>PROFIT</strong> from 407 trades = <strong><u>$594.60</u></strong></p>\r\n<p style=\"text-align: center;\"><u>MINI LOT TRADER</u> - 407 trades cost to trade = $407.00\r\n<strong>PROFIT</strong> from 407 trades = <strong><u>$5,946.00</u></strong></p>\r\n<p style=\"text-align: center;\"><u>STANDARD LOT TRADER</u> - 407 trades cost to trade = $4,070.00\r\n<strong>PROFIT</strong> from 407 trades = <strong><u>$59,460.00</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 - TRADE SUMMARY DETAILS MONTH &amp; YTD:</u>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/PS-PROFITS1-21062015.png\"><img class=\"aligncenter size-full wp-image-6165\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/PS-PROFITS1-21062015.png\" alt=\"PS PROFITS1 21062015\" width=\"453\" height=\"420\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/PS-PROFITS2-21062015.png\"><img class=\"aligncenter size-full wp-image-6166\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/PS-PROFITS2-21062015.png\" alt=\"PS PROFITS2 21062015\" width=\"460\" height=\"416\" /></a>\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>\r\n\r\n<u>4.2 – THE PREMIUM SERVICE – TRADING REVIEW &amp; LOOKING FORWARD:</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 – ARMEGEDDON “GOLDEN” TRADES:</u>\r\n\r\n<u>4.6 - POTENTIAL TRADES - WHAT CHARTS AM I LOOKING AT?</u>\r\n\r\n<u>4.7 - MAJOR TRADING PAIRS WITH LONGER-TERM TRENDS MATCHING:</u>\r\n\r\n<u>4.8 - 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> 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\nPersonally, I am going to continue my recent short-term plan of trading very light, I see no reason to change until the GREECE situation is resolved. This is a slow week for economic data and therefore we FX traders will be held captive by equities to some extend.\r\n\r\nWatch OIL this week; I see moves afoot with this commodity and GOLD as well. There is no reason at all to hold GOLD at the moment in my opinion. With these two commodities looking under pressure in my opinion, this will help the USD. Watch the DXY for a move towards 97.00 / 98.00 again. However, again it’s all about the reaction to the GREECE situation and the CONTAGION effect.\r\n\r\nWith high-risk news on the imminent horizon it is now in my mind, even more important to stick to core trading principles.\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 June 21st 2015\r\n\r\nEMAIL / FOLLOW ME AT:\r\ndrivethru@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.','THE EMPIRE STRIKES BACK...','','publish','open','closed','','the-empire-strikes-back','','','2015-06-20 12:22:17','2015-06-20 17:22:17','',0,'https://weeklyfxdrivethru.com/?p=6190',0,'post','',0),(6191,1,'2015-06-20 12:19:06','2015-06-20 17:19:06','<h2 style=\"text-align: center;\"><strong>THE PREMIUM SERVICE\r\n</strong><strong>The Home of Single-Lot Trading\r\nwww.weeklyfxdrivethru.com</strong></h2>\r\n<strong>DATE: 21.06.2015\r\nREFERENCE: #158\r\n</strong><strong>BLOG: THE WEEKLY FX DRIVE THRU</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\n1.1.1 - OVERVIEW:\r\n\r\nI felt like I was not really working last week. I only opened and closed 6 trades all week. 5 were positive trades the other lost money, the next result was more pips added to the PREMIUM SERVICE account plus the other accounts I manage.\r\n\r\nOne should never complain about adding pips on a weekly basis, as it is money in and not out of your broker account. However, like I said in the blog last week, I feel in a similar position to a death row prisoner in the sense that you know something is going to happen but you are just sitting back waiting for the inevitable. In my case, not death but the conclusion (maybe just for now) of the ongoing GREECE fiasco.\r\n\r\nHopefully to be proved correct, I see this as a major volatility news event and I do not want 10-15 trades in play as the news of whatever it is going to be hits the newswires, plus prior to the news breaking, we have to remember we are dealing with the EUROZONE; the home of the misleading sound byte, quote and the originator of the buy the rumour sell the news reaction. These latter reasons are why I am really not participating in the markets at the moment and I am being ultra selective on entry levels and pairs to trade.\r\n\r\nAll the above being said…nothing has changed from last week apart from the FOMC. This I will tackle next.\r\n\r\n&nbsp;\r\n\r\n1.1.2 – FOMC:\r\n\r\nWhat can I say?\r\n\r\nThe time I thought that leadership from the FOMC would come through, all I saw was the same old same old. I am now in the camp of the FED does NOT believe the credibility or the accuracy of the statistics produced. This data dependent stance has just rolled on far too long in my opinion and quite honestly the whole scenario is quickly turning into a “West-end” (London Theatre land) stage farce.\r\n\r\nIs the FOMC even afraid to raise rates by even 0.10%? Is the U.S. economy that fragile?\r\n\r\nI am finding the Janet Yellen dovish approach so behind the curve the FED is in danger of looking like bigger “numpties” than their counter-parts at the ECB, and for me to say that is huge!\r\n\r\nI think with Yellen and her committee we have in the FOMC a collection of ditherers. The only possible reason that I think that the FOMC is holding back on the rate increase is because they want to try to set up a positive final quarter of the year by increasing rates in Q4 (September / October) at a time when the U.S. economy is more robust. If this is not the reason we do have a collection of ditherers in my opinion.\r\n\r\n&nbsp;\r\n\r\n1.1.2 – GREECE:\r\n\r\nI have to mention GREECE. However, like many people who write articles or blogs I am running out of fresh things to say.\r\n\r\nThe one snippet of news that I did pick up on was the comment about the GREEK banks not opening on Monday 22<sup>nd</sup> June. It was very quickly denied. There is no doubt that banks have been seeing cash being moved away from GREECE in the millions (the smart money left months ago) and as I have stated very clearly for months, the first step before the default are CAPITAL CONTROLS, I believe we are almost there.\r\n\r\nThe rhetoric is high on emotion now. This exasperated position will only get worse. Remember, we are dealing with politicians who need their egos cuddled on a regular basis. They are NOT problem solvers; politicians like to blame other politicians. They do NOT accept responsibility for anything.\r\n\r\nTo be a politician in most countries around the world gets the membership of a society similar to the FREEMASONS, but instead of the secret handshake, politicians are stripped naked (not a pretty sight) and coated, or as they would say anointed in Teflon.\r\n\r\nWith this in mind watch for the blame game to start. Be aware when this starts we will know that there is no solution, good or half-assed, not even a can-kicking solution, we will have a default.\r\n\r\n&nbsp;\r\n\r\n<u>1.2 - LOOKING FORWARDS:</u>\r\n\r\n<u>1.2.1 - 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: CNY – HSBC Flash Manufacturing PMi.\r\n\r\nTUESDAY: N/A.\r\n\r\nWEDNESDAY: USD – GDP.\r\n\r\nTHURSDAY: NZD – Trade Balance.\r\n\r\nFRIDAY: N/A.\r\n\r\n&nbsp;\r\n\r\n1.2.2 – MY THOUGHTS ON THE NEWS ITEMS THIS COMING WEEK:\r\n\r\nNo much at all interests me with regards to news events this coming week. I expect to have NZD related trades in play so the direct NZD Trade balance data will be of interest plus China data, which directly affects the Kiwi.\r\n\r\nThe only other addition is U.S. GDP for the quarter. It should be a market mover on the basis it may influence the FOMC but with a data dependent scenario in play I strongly suspect Yellen and co will want another quarters result as well.\r\n\r\nTherefore as Forex traders we will be held to ransom by equities and of course GREECE.\r\n\r\n&nbsp;\r\n\r\n<u>1.3 - LOOKING SIDEWAYS (FOR GOOD MEASURE): </u>\r\n\r\nAnother week of gardening leave completed (this is what it feels like) and I have had a lot of time to review my FUNDAMENTAL STRATEGIES moving forward amongst many other related subjects.\r\n\r\nThe FOMC really caught me off guard with regards to their dithering last week over rate hikes. Sure, when you play “join the dots” (with their economic projections) it all looks rosy for a rate hike this year, possibly even two, but when you go into 2016 and 2017, the FOMC are not as confident of further rate increases. This has me a little perplexed.\r\n\r\nI still believe that central bank divergences will come to the forefront and dictate / guide / give the Forex markets some momentum moves looking ahead, but the FOMC dots still give me cause to note. The bottom line is however that the FED is going one way possibly with the UK being hawkish with them, and, the rest of the major central banks are going the other way, accommodative and dovish.\r\n\r\nI am still in the camp that believes supply and demand will win the day when it comes to oil pricing. Maybe the highly speculative market players are taking the summer months when demand is higher to try and squeeze every last drop of greed out of the commodity. Basic economics has to come to the forefront here, supply is well over demand and to balance this out there just has to be a mathematical price adjustment. If there isn’t, my old Economics master from my schooldays will be turning in his grave (I am assuming he is long passed on by now).\r\n\r\nWith these factors in mind my trades are still in play, I just now need to achieve the entry levels I want once GREECE is out of the way.\r\n\r\nLast week I placed my first ARMEGEDDON “Golden” TRADE, which was annotated for my subscribers, and this week I have my second one ready.\r\n\r\nI have spoken with a couple of subscribers over the past few days and in addition to my caution of over-trading it does appear that this is the consensus view on moving forward for many traders at the moment.\r\n\r\n&nbsp;\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>THE EMPIRE STRIKES BACK</strong></span></h3>\r\nFor all you Star Wars geeks out there, I am not referring to any movie involving the expertise of George Lucas, and I am NOT referring to characters portrayed in the movies.\r\n\r\nI am referring to good old “blighty”…the UK or from an FX perspective the GBP (Cable).\r\n\r\nCable is on the move, and as most regular readers will confirm, I hate trading the GBP, however, in all honesty I would like to narrow that statement to just the GBP/USD and GBP/JPY. The rest of the GBP related pairs I like trading, my favourite trading pair is by the way the EUR/GBP.\r\n\r\nThe GBP is on the move, this month there have been spectacular moves across the spectrum of GBP related pairs, and thousands of pips of moves have been seen.\r\n\r\nHere is the big question…why is cable on a tear and what trading opportunities are still available, if any, and what are the risks involved over and above the usual day to day risks in trading Forex?\r\n\r\nI intend not to ramble on here about economics, I covered economics for long enough in my younger years, I found it interesting, many did not, it can be boring I admit. I am now a trader I will focus more on the FX opportunities; however, we need to understand just briefly why the UK is in good shape.\r\n\r\nFrom the beginning, the UK’s biggest trading partner is the EUROZONE, but the UK is more of a services economy and a production / industrial economy. The UK does manufacture, it does produce finished goods, but it is a world hub for Finance and Insurance. Here lies a huge benefit over its closest trading partner. The EUROZONE is more of an industrial producer/ exporter.\r\n\r\nThe service sector generally will always stay more consistent than manufacturing, which has swings associated with it as peoples purchasing can be seasonal.\r\n\r\nIn addition, the UK took Quantitative Easing (QE) steps to support its economy immediately during the Financial Crash of 2008-09 as well as austerity measures, and the two economies that took the QE route from the get go, the U.S. and the UK are the stronger economies now looking to raise rates rather than say the EUROZONE whose initial approach for 7 years was to drive the spike of austerity through the heart of EUROPE and it really failed. Now they are just into the QE route, in my opinion at least 2/3 years behind and chasing as fast as it can given its issues.\r\n\r\nLooking at some economic data, I have provided at a very high level some interesting comparisons looking at the UK versus the Euro Area in general and individual EUROZONE members and there are some interesting comparisons.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/UK-EZ-FIN-COMPARISONS-21062015.png\"><img class=\"aligncenter size-full wp-image-6154\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/UK-EZ-FIN-COMPARISONS-21062015.png\" alt=\"UK-EZ FIN COMPARISONS 21062015\" width=\"783\" height=\"390\" /></a>\r\n\r\n&nbsp;\r\n\r\nObviously, I can drone on for hours about the statistics in the chart above. I am NOT an economist. My views and thoughts may not be what an economist looks for; they are what I look for as a Forex trader.\r\n<ol>\r\n	<li><strong><u> HOUSING</u></strong> (buoyant housing = spending and Spending = growth)</li>\r\n</ol>\r\nThe UK housing index is on fire compared to the EUROZONE average.\r\n\r\n<strong>     </strong>2<strong>. <span style=\"text-decoration: underline;\">JOBLESS RATE</span></strong> (the lower the better, the more the government receives in taxes, the more cash is left for the population to spend on goods and services – the circle as I call it)\r\n\r\nThe UK rate is low at 5.50% compared to the EUROZONE average of 11.10%\r\n<ol start=\"3\">\r\n	<li><strong><u> RETAIL SALES</u></strong> (the more spent = the more is ordered / good for jobs as well)</li>\r\n</ol>\r\nThe UK is at 4.60% the EUROZONE average is at 2.6%\r\n<ol start=\"4\">\r\n	<li><strong><u> PRODUCER PRICES</u></strong> if these rise = nice lift for inflation / GDP, it shows economic growth)</li>\r\n</ol>\r\nThe UK is at 107.10 ahead of the EUROZONE average of 104.80.\r\n<ol start=\"5\">\r\n	<li><strong><u> CONSUMER PRICE INDEX (CPi)</u></strong> (rises = good for inflation and GDP and economic growth)</li>\r\n</ol>\r\nThe UK is at 128.20 compared to the EUROZONE average of 121.30.\r\n\r\n&nbsp;\r\n\r\nThe 5 points above to me are a fair indicator why the GBP is a bullish currency at the moment. Add to this a recent election win for the Conservatives, that gives David Cameron another 4 years in office and there is now political stability as a result. This is good for the markets.\r\n\r\nThis is the backdrop to why I believe the GBP is a well-supported currency. You can argue it\'s the best looking in an ugly contest, but there are and we have to admit it some compelling reasons why investors would look to the UK.\r\n\r\nMoving on… let me look at the Forex opportunities.\r\n\r\nGBP/USD: The monthly chart below, shows that right now the GBP/USD has been struggling with the 50% retracement (1.5865) of the 2014 highs to the 2015 lows.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/GBPUSD-EMPIRE-STRIKES-BACK-M-21062015.png\"><img class=\"aligncenter size-large wp-image-6155\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/GBPUSD-EMPIRE-STRIKES-BACK-M-21062015-1024x541.png\" alt=\"GBPUSD EMPIRE STRIKES BACK M 21062015\" width=\"1024\" height=\"541\" /></a>\r\n\r\n&nbsp;\r\n\r\nFor my perspective a break here and then through the psychological 1.6000 level takes us to the 61.8% retracement at 1.6177 and this is where I expect the line in the sand of whether we have a true move higher will be measured. Not that I do not think that the 800 pip move this month from the lows of the 23.6% Fibonacci level of 1.5166 to todays highs around 1.5900 is no mean feat; it is a very bullish move indeed. With the FOMC dithering the potential for further gains are available.\r\n\r\nCan we get a full 100% retracement absolutely, will we?\r\n\r\nAsking another 1200 pips through the summer months when trading is slow and with an expectant U.S. rate hike in September may be a tall order. The BOE under the leadership of Mark “I like to backtrack my statements” Carney, has indicated that an interest rate rise in the UK is on the way but the smart money has 2016 earmarked. In reality it would be a brave man, maybe a fool, if the BOE were to raise rates ahead of the FED.\r\n\r\nMaybe a realistic target for the GBP/USD is 1.6500 by the summer’s end but that is also asking about 500 pips from last weeks close at 1.5875.\r\n\r\nPrice action with the cable also revolves around price action with the EURO. We must also bear in mind the very influential EUR/GBP cross-rate. This pair is very liquid to trade and should never be under-estimated with its effect on both the EUR and GBP.\r\n\r\nWith the EUROZONE about to be severely tested with the GREECE exit and default etc., price action with the EUR/USD and EUR/GBP could very heavily influence price movements with the GBP/USD. Having said that it could remain somewhat stagnant as I expect the commodity currencies to be hit quite hard placing pressure on the AUD, NZD and the CAD.\r\n\r\nThis will have a cross-rate effect through the GBP crosses, the GBP/AUD, GBP/CAD, and GBP/NZD in particular, all of which could be bullish and pop higher in a risk off situation. But the net effect could be that the GBP/USD stays reasonably elevated without much of a trade off.\r\n\r\nThe charts below (they have no commentary on them just the levels) show the monthly upside moves this month alone so far from the GBP crosses; the highlights of the pip moves are as follows:\r\n\r\nGBP/JPY – 744 pips\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/GBPJPY-EMPIRE-STRIKES-BACK-M-21062015.png\"><img class=\"aligncenter size-large wp-image-6157\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/GBPJPY-EMPIRE-STRIKES-BACK-M-21062015-1024x541.png\" alt=\"GBPJPY EMPIRE STRIKES BACK M 21062015\" width=\"1024\" height=\"541\" /></a>\r\n\r\nGBP/AUD - 931 pips\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/GBPAUD-EMPIRE-STRIKES-BACK-M-21062015.png\"><img class=\"aligncenter size-large wp-image-6159\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/GBPAUD-EMPIRE-STRIKES-BACK-M-21062015-1024x541.png\" alt=\"GBPAUD EMPIRE STRIKES BACK  M 21062015\" width=\"1024\" height=\"541\" /></a>\r\n\r\nGBP/CAD – 687 pips\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/GBPCAD-EMPIRE-STRIKES-BACK-M-21062015.png\"><img class=\"aligncenter size-large wp-image-6158\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/GBPCAD-EMPIRE-STRIKES-BACK-M-21062015-1024x541.png\" alt=\"GBPCAD EMPIRE STRIKES BACK  M 21062015\" width=\"1024\" height=\"541\" /></a>\r\n\r\nGBP/NZD – 1,757 pips\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/GBPNZD-EMPIRE-STRIKES-BACK-M-21062015.png\"><img class=\"aligncenter size-large wp-image-6156\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/GBPNZD-EMPIRE-STRIKES-BACK-M-21062015-1024x541.png\" alt=\"GBPNZD EMPIRE STRIKES BACK M 21062015\" width=\"1024\" height=\"541\" /></a>\r\n\r\n&nbsp;\r\n\r\nBy any stretch of the imagination, these pip gains in the above pairs this month so far are spectacular, and well above the Monthly Average True Range normal.\r\n\r\nTherefore, the wider picture is YES…. THE EMPIRE CAN STRIKE BACK…FURTHER but through the cross-rate pairs and maybe not through the GBP/USD which, move a little but, the great unwind trades since the Financial crash could be coming to the forefront via the GBP crosses. With these cross-rate pairs there are thousands of pips available, if the moves gain traction.\r\n\r\nJust imagine the effect on the commodity cross-rate pairs if we had an equity market sell off. If we think the move this month has been explosive, as Bachman Turner Overdrive once said… “You ain’t seen nothin’ yet”\r\n\r\nPREMIUM SERVICE subscribers already know that I am constantly looking at these pairs for entries, there are STILL thousands of unwinding pips still out there with the GBP commodity crosses, and do not forget the EUR crosses as well in a “RISK OFF” environment.\r\n\r\nMaybe its time for me to consider not to hate trading cable again?\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 - 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\n\r\n10 weeks / 3 months:               USD $295.00\r\n\r\n20 weeks / 6 months:               USD $495.00\r\n\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>PLEASE NOTE:</u>\r\n\r\nDuring the summer from July 25<sup>th</sup> through to September 5<sup>th</sup> 2015, there will not be any WEEKLY FX DRIVE THRU blogs and PREMIUM SERVICE trading will be minimal due to slow markets. Subscribers will still be advised of trades, if any, but typically there are very few. Subscription periods DO NOT count the weeks when there is no blog.\r\n\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;\">EMANATING FROM TRADE SET-UPS - 2015 to date:</p>\r\n<p style=\"text-align: center;\"><u>MICRO LOT TRADER</u> - 407 trades cost to trade = $40.70\r\n<strong>PROFIT</strong> from 407 trades = <strong><u>$594.60</u></strong></p>\r\n<p style=\"text-align: center;\"><u>MINI LOT TRADER</u> - 407 trades cost to trade = $407.00\r\n<strong>PROFIT</strong> from 407 trades = <strong><u>$5,946.00</u></strong></p>\r\n<p style=\"text-align: center;\"><u>STANDARD LOT TRADER</u> - 407 trades cost to trade = $4,070.00\r\n<strong>PROFIT</strong> from 407 trades = <strong><u>$59,460.00</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 - TRADE SUMMARY DETAILS MONTH &amp; YTD:</u>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/PS-PROFITS1-21062015.png\"><img class=\"aligncenter size-full wp-image-6165\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/PS-PROFITS1-21062015.png\" alt=\"PS PROFITS1 21062015\" width=\"453\" height=\"420\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/PS-PROFITS2-21062015.png\"><img class=\"aligncenter size-full wp-image-6166\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/PS-PROFITS2-21062015.png\" alt=\"PS PROFITS2 21062015\" width=\"460\" height=\"416\" /></a>\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>\r\n\r\n<u>4.2 – THE PREMIUM SERVICE – TRADING REVIEW &amp; LOOKING FORWARD:</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 – ARMEGEDDON “GOLDEN” TRADES:</u>\r\n\r\n<u>4.6 - POTENTIAL TRADES - WHAT CHARTS AM I LOOKING AT?</u>\r\n\r\n<u>4.7 - MAJOR TRADING PAIRS WITH LONGER-TERM TRENDS MATCHING:</u>\r\n\r\n<u>4.8 - 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> 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\nPersonally, I am going to continue my recent short-term plan of trading very light, I see no reason to change until the GREECE situation is resolved. This is a slow week for economic data and therefore we FX traders will be held captive by equities to some extend.\r\n\r\nWatch OIL this week; I see moves afoot with this commodity and GOLD as well. There is no reason at all to hold GOLD at the moment in my opinion. With these two commodities looking under pressure in my opinion, this will help the USD. Watch the DXY for a move towards 97.00 / 98.00 again. However, again it’s all about the reaction to the GREECE situation and the CONTAGION effect.\r\n\r\nWith high-risk news on the imminent horizon it is now in my mind, even more important to stick to core trading principles.\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 June 21st 2015\r\n\r\nEMAIL / FOLLOW ME AT:\r\ndrivethru@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.','THE EMPIRE STRIKES BACK...','','inherit','open','closed','','6190-revision-v1','','','2015-06-20 12:19:06','2015-06-20 17:19:06','',6190,'https://weeklyfxdrivethru.com/6190-revision-v1/',0,'revision','',0),(6192,1,'2015-06-20 12:22:17','2015-06-20 17:22:17','<h2 style=\"text-align: center;\"><strong>THE PREMIUM SERVICE\r\n</strong><strong>The Home of Single-Lot Trading\r\nwww.weeklyfxdrivethru.com</strong></h2>\r\n<strong>DATE: 21.06.2015\r\nREFERENCE: #158\r\n</strong><strong>BLOG: THE WEEKLY FX DRIVE THRU</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\n1.1.1 - OVERVIEW:\r\n\r\nI felt like I was not really working last week. I only opened and closed 6 trades all week. 5 were positive trades the other lost money, the next result was more pips added to the PREMIUM SERVICE account plus the other accounts I manage.\r\n\r\nOne should never complain about adding pips on a weekly basis, as it is money in and not out of your broker account. However, like I said in the blog last week, I feel in a similar position to a death row prisoner in the sense that you know something is going to happen but you are just sitting back waiting for the inevitable. In my case, not death but the conclusion (maybe just for now) of the ongoing GREECE fiasco.\r\n\r\nHopefully to be proved correct, I see this as a major volatility news event and I do not want 10-15 trades in play as the news of whatever it is going to be hits the newswires, plus prior to the news breaking, we have to remember we are dealing with the EUROZONE; the home of the misleading sound byte, quote and the originator of the buy the rumour sell the news reaction. These latter reasons are why I am really not participating in the markets at the moment and I am being ultra selective on entry levels and pairs to trade.\r\n\r\nAll the above being said…nothing has changed from last week apart from the FOMC. This I will tackle next.\r\n\r\n&nbsp;\r\n\r\n1.1.2 – FOMC:\r\n\r\nWhat can I say?\r\n\r\nThe time I thought that leadership from the FOMC would come through, all I saw was the same old same old. I am now in the camp of the FED does NOT believe the credibility or the accuracy of the statistics produced. This data dependent stance has just rolled on far too long in my opinion and quite honestly the whole scenario is quickly turning into a “West-end” (London Theatre land) stage farce.\r\n\r\nIs the FOMC even afraid to raise rates by even 0.10%? Is the U.S. economy that fragile?\r\n\r\nI am finding the Janet Yellen dovish approach so behind the curve the FED is in danger of looking like bigger “numpties” than their counter-parts at the ECB, and for me to say that is huge!\r\n\r\nI think with Yellen and her committee we have in the FOMC a collection of ditherers. The only possible reason that I think that the FOMC is holding back on the rate increase is because they want to try to set up a positive final quarter of the year by increasing rates in Q4 (September / October) at a time when the U.S. economy is more robust. If this is not the reason we do have a collection of ditherers in my opinion.\r\n\r\n&nbsp;\r\n\r\n1.1.2 – GREECE:\r\n\r\nI have to mention GREECE. However, like many people who write articles or blogs I am running out of fresh things to say.\r\n\r\nThe one snippet of news that I did pick up on was the comment about the GREEK banks not opening on Monday 22<sup>nd</sup> June. It was very quickly denied. There is no doubt that banks have been seeing cash being moved away from GREECE in the millions (the smart money left months ago) and as I have stated very clearly for months, the first step before the default are CAPITAL CONTROLS, I believe we are almost there.\r\n\r\nThe rhetoric is high on emotion now. This exasperated position will only get worse. Remember, we are dealing with politicians who need their egos cuddled on a regular basis. They are NOT problem solvers; politicians like to blame other politicians. They do NOT accept responsibility for anything.\r\n\r\nTo be a politician in most countries around the world gets the membership of a society similar to the FREEMASONS, but instead of the secret handshake, politicians are stripped naked (not a pretty sight) and coated, or as they would say anointed in Teflon.\r\n\r\nWith this in mind watch for the blame game to start. Be aware when this starts we will know that there is no solution, good or half-assed, not even a can-kicking solution, we will have a default.\r\n\r\n&nbsp;\r\n\r\n<u>1.2 - LOOKING FORWARDS:</u>\r\n\r\n<u>1.2.1 - 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: CNY – HSBC Flash Manufacturing PMi.\r\n\r\nTUESDAY: N/A.\r\n\r\nWEDNESDAY: USD – GDP.\r\n\r\nTHURSDAY: NZD – Trade Balance.\r\n\r\nFRIDAY: N/A.\r\n\r\n&nbsp;\r\n\r\n1.2.2 – MY THOUGHTS ON THE NEWS ITEMS THIS COMING WEEK:\r\n\r\nNo much at all interests me with regards to news events this coming week. I expect to have NZD related trades in play so the direct NZD Trade balance data will be of interest plus China data, which directly affects the Kiwi.\r\n\r\nThe only other addition is U.S. GDP for the quarter. It should be a market mover on the basis it may influence the FOMC but with a data dependent scenario in play I strongly suspect Yellen and co will want another quarters result as well.\r\n\r\nTherefore as Forex traders we will be held to ransom by equities and of course GREECE.\r\n\r\n&nbsp;\r\n\r\n<u>1.3 - LOOKING SIDEWAYS (FOR GOOD MEASURE): </u>\r\n\r\nAnother week of gardening leave completed (this is what it feels like) and I have had a lot of time to review my FUNDAMENTAL STRATEGIES moving forward amongst many other related subjects.\r\n\r\nThe FOMC really caught me off guard with regards to their dithering last week over rate hikes. Sure, when you play “join the dots” (with their economic projections) it all looks rosy for a rate hike this year, possibly even two, but when you go into 2016 and 2017, the FOMC are not as confident of further rate increases. This has me a little perplexed.\r\n\r\nI still believe that central bank divergences will come to the forefront and dictate / guide / give the Forex markets some momentum moves looking ahead, but the FOMC dots still give me cause to note. The bottom line is however that the FED is going one way possibly with the UK being hawkish with them, and, the rest of the major central banks are going the other way, accommodative and dovish.\r\n\r\nI am still in the camp that believes supply and demand will win the day when it comes to oil pricing. Maybe the highly speculative market players are taking the summer months when demand is higher to try and squeeze every last drop of greed out of the commodity. Basic economics has to come to the forefront here, supply is well over demand and to balance this out there just has to be a mathematical price adjustment. If there isn’t, my old Economics master from my schooldays will be turning in his grave (I am assuming he is long passed on by now).\r\n\r\nWith these factors in mind my trades are still in play, I just now need to achieve the entry levels I want once GREECE is out of the way.\r\n\r\nLast week I placed my first ARMEGEDDON “Golden” TRADE, which was annotated for my subscribers, and this week I have my second one ready.\r\n\r\nI have spoken with a couple of subscribers over the past few days and in addition to my caution of over-trading it does appear that this is the consensus view on moving forward for many traders at the moment.\r\n\r\n&nbsp;\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>THE EMPIRE STRIKES BACK</strong></span></h3>\r\nFor all you Star Wars geeks out there, I am not referring to any movie involving the expertise of George Lucas, and I am NOT referring to characters portrayed in the movies.\r\n\r\nI am referring to good old “blighty”…the UK or from an FX perspective the GBP (Cable).\r\n\r\nCable is on the move, and as most regular readers will confirm, I hate trading the GBP, however, in all honesty I would like to narrow that statement to just the GBP/USD and GBP/JPY. The rest of the GBP related pairs I like trading, my favourite trading pair is by the way the EUR/GBP.\r\n\r\nThe GBP is on the move, this month there have been spectacular moves across the spectrum of GBP related pairs, and thousands of pips of moves have been seen.\r\n\r\nHere is the big question…why is cable on a tear and what trading opportunities are still available, if any, and what are the risks involved over and above the usual day to day risks in trading Forex?\r\n\r\nI intend not to ramble on here about economics, I covered economics for long enough in my younger years, I found it interesting, many did not, it can be boring I admit. I am now a trader I will focus more on the FX opportunities; however, we need to understand just briefly why the UK is in good shape.\r\n\r\nFrom the beginning, the UK’s biggest trading partner is the EUROZONE, but the UK is more of a services economy and a production / industrial economy. The UK does manufacture, it does produce finished goods, but it is a world hub for Finance and Insurance. Here lies a huge benefit over its closest trading partner. The EUROZONE is more of an industrial producer/ exporter.\r\n\r\nThe service sector generally will always stay more consistent than manufacturing, which has swings associated with it as peoples purchasing can be seasonal.\r\n\r\nIn addition, the UK took Quantitative Easing (QE) steps to support its economy immediately during the Financial Crash of 2008-09 as well as austerity measures, and the two economies that took the QE route from the get go, the U.S. and the UK are the stronger economies now looking to raise rates rather than say the EUROZONE whose initial approach for 7 years was to drive the spike of austerity through the heart of EUROPE and it really failed. Now they are just into the QE route, in my opinion at least 2/3 years behind and chasing as fast as it can given its issues.\r\n\r\nLooking at some economic data, I have provided at a very high level some interesting comparisons looking at the UK versus the Euro Area in general and individual EUROZONE members and there are some interesting comparisons.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/UK-EZ-FIN-COMPARISONS-21062015.png\"><img class=\"aligncenter size-full wp-image-6154\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/UK-EZ-FIN-COMPARISONS-21062015.png\" alt=\"UK-EZ FIN COMPARISONS 21062015\" width=\"783\" height=\"390\" /></a>\r\n\r\n&nbsp;\r\n\r\nObviously, I can drone on for hours about the statistics in the chart above. I am NOT an economist. My views and thoughts may not be what an economist looks for; they are what I look for as a Forex trader.\r\n<ol>\r\n	<li><strong><u> HOUSING</u></strong> (buoyant housing = spending and Spending = growth)</li>\r\n</ol>\r\nThe UK housing index is on fire compared to the EUROZONE average.\r\n\r\n<strong>     </strong>2<strong>. <span style=\"text-decoration: underline;\">JOBLESS RATE</span></strong> (the lower the better, the more the government receives in taxes, the more cash is left for the population to spend on goods and services – the circle as I call it)\r\n\r\nThe UK rate is low at 5.50% compared to the EUROZONE average of 11.10%\r\n<ol start=\"3\">\r\n	<li><strong><u> RETAIL SALES</u></strong> (the more spent = the more is ordered / good for jobs as well)</li>\r\n</ol>\r\nThe UK is at 4.60% the EUROZONE average is at 2.6%\r\n<ol start=\"4\">\r\n	<li><strong><u> PRODUCER PRICES</u></strong> if these rise = nice lift for inflation / GDP, it shows economic growth)</li>\r\n</ol>\r\nThe UK is at 107.10 ahead of the EUROZONE average of 104.80.\r\n<ol start=\"5\">\r\n	<li><strong><u> CONSUMER PRICE INDEX (CPi)</u></strong> (rises = good for inflation and GDP and economic growth)</li>\r\n</ol>\r\nThe UK is at 128.20 compared to the EUROZONE average of 121.30.\r\n\r\n&nbsp;\r\n\r\nThe 5 points above to me are a fair indicator why the GBP is a bullish currency at the moment. Add to this a recent election win for the Conservatives, that gives David Cameron another 4 years in office and there is now political stability as a result. This is good for the markets.\r\n\r\nThis is the backdrop to why I believe the GBP is a well-supported currency. You can argue it\'s the best looking in an ugly contest, but there are and we have to admit it some compelling reasons why investors would look to the UK.\r\n\r\nMoving on… let me look at the Forex opportunities.\r\n\r\nGBP/USD: The monthly chart below, shows that right now the GBP/USD has been struggling with the 50% retracement (1.5865) of the 2014 highs to the 2015 lows.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/GBPUSD-EMPIRE-STRIKES-BACK-M-21062015.png\"><img class=\"aligncenter size-large wp-image-6155\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/GBPUSD-EMPIRE-STRIKES-BACK-M-21062015-1024x541.png\" alt=\"GBPUSD EMPIRE STRIKES BACK M 21062015\" width=\"1024\" height=\"541\" /></a>\r\n\r\n&nbsp;\r\n\r\nFor my perspective a break here and then through the psychological 1.6000 level takes us to the 61.8% retracement at 1.6177 and this is where I expect the line in the sand of whether we have a true move higher will be measured. Not that I do not think that the 800 pip move this month from the lows of the 23.6% Fibonacci level of 1.5166 to todays highs around 1.5900 is no mean feat; it is a very bullish move indeed. With the FOMC dithering the potential for further gains are available.\r\n\r\nCan we get a full 100% retracement absolutely, will we?\r\n\r\nAsking another 1200 pips through the summer months when trading is slow and with an expectant U.S. rate hike in September may be a tall order. The BOE under the leadership of Mark “I like to backtrack my statements” Carney, has indicated that an interest rate rise in the UK is on the way but the smart money has 2016 earmarked. In reality it would be a brave man, maybe a fool, if the BOE were to raise rates ahead of the FED.\r\n\r\nMaybe a realistic target for the GBP/USD is 1.6500 by the summer’s end but that is also asking about 500 pips from last weeks close at 1.5875.\r\n\r\nPrice action with the cable also revolves around price action with the EURO. We must also bear in mind the very influential EUR/GBP cross-rate. This pair is very liquid to trade and should never be under-estimated with its effect on both the EUR and GBP.\r\n\r\nWith the EUROZONE about to be severely tested with the GREECE exit and default etc., price action with the EUR/USD and EUR/GBP could very heavily influence price movements with the GBP/USD. Having said that it could remain somewhat stagnant as I expect the commodity currencies to be hit quite hard placing pressure on the AUD, NZD and the CAD.\r\n\r\nThis will have a cross-rate effect through the GBP crosses, the GBP/AUD, GBP/CAD, and GBP/NZD in particular, all of which could be bullish and pop higher in a risk off situation. But the net effect could be that the GBP/USD stays reasonably elevated without much of a trade off.\r\n\r\nThe charts below (they have no commentary on them just the levels) show the monthly upside moves this month alone so far from the GBP crosses; the highlights of the pip moves are as follows:\r\n\r\nGBP/JPY – 744 pips\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/GBPJPY-EMPIRE-STRIKES-BACK-M-21062015.png\"><img class=\"aligncenter size-large wp-image-6157\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/GBPJPY-EMPIRE-STRIKES-BACK-M-21062015-1024x541.png\" alt=\"GBPJPY EMPIRE STRIKES BACK M 21062015\" width=\"1024\" height=\"541\" /></a>\r\n\r\nGBP/AUD - 931 pips\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/GBPAUD-EMPIRE-STRIKES-BACK-M-21062015.png\"><img class=\"aligncenter size-large wp-image-6159\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/GBPAUD-EMPIRE-STRIKES-BACK-M-21062015-1024x541.png\" alt=\"GBPAUD EMPIRE STRIKES BACK  M 21062015\" width=\"1024\" height=\"541\" /></a>\r\n\r\nGBP/CAD – 687 pips\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/GBPCAD-EMPIRE-STRIKES-BACK-M-21062015.png\"><img class=\"aligncenter size-large wp-image-6158\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/GBPCAD-EMPIRE-STRIKES-BACK-M-21062015-1024x541.png\" alt=\"GBPCAD EMPIRE STRIKES BACK  M 21062015\" width=\"1024\" height=\"541\" /></a>\r\n\r\nGBP/NZD – 1,757 pips\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/GBPNZD-EMPIRE-STRIKES-BACK-M-21062015.png\"><img class=\"aligncenter size-large wp-image-6156\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/GBPNZD-EMPIRE-STRIKES-BACK-M-21062015-1024x541.png\" alt=\"GBPNZD EMPIRE STRIKES BACK M 21062015\" width=\"1024\" height=\"541\" /></a>\r\n\r\n&nbsp;\r\n\r\nBy any stretch of the imagination, these pip gains in the above pairs this month so far are spectacular, and well above the Monthly Average True Range normal.\r\n\r\nTherefore, the wider picture is YES…. THE EMPIRE CAN STRIKE BACK…FURTHER but through the cross-rate pairs and maybe not through the GBP/USD which, move a little but, the great unwind trades since the Financial crash could be coming to the forefront via the GBP crosses. With these cross-rate pairs there are thousands of pips available, if the moves gain traction.\r\n\r\nJust imagine the effect on the commodity cross-rate pairs if we had an equity market sell off. If we think the move this month has been explosive, as Bachman Turner Overdrive once said… “You ain’t seen nothin’ yet”\r\n\r\nPREMIUM SERVICE subscribers already know that I am constantly looking at these pairs for entries, there are STILL thousands of unwinding pips still out there with the GBP commodity crosses, and do not forget the EUR crosses as well in a “RISK OFF” environment.\r\n\r\nMaybe its time for me to consider not to hate trading cable again?\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 - 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\n\r\n10 weeks / 3 months:               USD $295.00\r\n\r\n20 weeks / 6 months:               USD $495.00\r\n\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>PLEASE NOTE:</u>\r\n\r\nDuring the summer from July 25<sup>th</sup> through to September 5<sup>th</sup> 2015, there will not be any WEEKLY FX DRIVE THRU blogs and PREMIUM SERVICE trading will be minimal due to slow markets. Subscribers will still be advised of trades, if any, but typically there are very few. Subscription periods DO NOT count the weeks when there is no blog.\r\n\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;\">EMANATING FROM TRADE SET-UPS - 2015 to date:</p>\r\n<p style=\"text-align: center;\"><u>MICRO LOT TRADER</u> - 407 trades cost to trade = $40.70\r\n<strong>PROFIT</strong> from 407 trades = <strong><u>$594.60</u></strong></p>\r\n<p style=\"text-align: center;\"><u>MINI LOT TRADER</u> - 407 trades cost to trade = $407.00\r\n<strong>PROFIT</strong> from 407 trades = <strong><u>$5,946.00</u></strong></p>\r\n<p style=\"text-align: center;\"><u>STANDARD LOT TRADER</u> - 407 trades cost to trade = $4,070.00\r\n<strong>PROFIT</strong> from 407 trades = <strong><u>$59,460.00</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 - TRADE SUMMARY DETAILS MONTH &amp; YTD:</u>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/PS-PROFITS1-21062015.png\"><img class=\"aligncenter size-full wp-image-6165\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/PS-PROFITS1-21062015.png\" alt=\"PS PROFITS1 21062015\" width=\"453\" height=\"420\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/PS-PROFITS2-21062015.png\"><img class=\"aligncenter size-full wp-image-6166\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/PS-PROFITS2-21062015.png\" alt=\"PS PROFITS2 21062015\" width=\"460\" height=\"416\" /></a>\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>\r\n\r\n<u>4.2 – THE PREMIUM SERVICE – TRADING REVIEW &amp; LOOKING FORWARD:</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 – ARMEGEDDON “GOLDEN” TRADES:</u>\r\n\r\n<u>4.6 - POTENTIAL TRADES - WHAT CHARTS AM I LOOKING AT?</u>\r\n\r\n<u>4.7 - MAJOR TRADING PAIRS WITH LONGER-TERM TRENDS MATCHING:</u>\r\n\r\n<u>4.8 - 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> 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\nPersonally, I am going to continue my recent short-term plan of trading very light, I see no reason to change until the GREECE situation is resolved. This is a slow week for economic data and therefore we FX traders will be held captive by equities to some extend.\r\n\r\nWatch OIL this week; I see moves afoot with this commodity and GOLD as well. There is no reason at all to hold GOLD at the moment in my opinion. With these two commodities looking under pressure in my opinion, this will help the USD. Watch the DXY for a move towards 97.00 / 98.00 again. However, again it’s all about the reaction to the GREECE situation and the CONTAGION effect.\r\n\r\nWith high-risk news on the imminent horizon it is now in my mind, even more important to stick to core trading principles.\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 June 21st 2015\r\n\r\nEMAIL / FOLLOW ME AT:\r\ndrivethru@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.','THE EMPIRE STRIKES BACK...','','inherit','open','closed','','6190-revision-v1','','','2015-06-20 12:22:17','2015-06-20 17:22:17','',6190,'https://weeklyfxdrivethru.com/6190-revision-v1/',0,'revision','',0),(6212,1,'2015-06-27 05:51:33','2015-06-27 10:51:33','<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: 26.06.2015\r\nREFERENCE: #66\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\nLOOKING BACKWARDS, FORWARDS &amp; SIDEWAYS (FOR GOOD MEASURE) AT THE FX MARKET:\r\n\r\n1.1: LOOKING BACKWARDS:\r\n\r\nWell my piece on THE EMPIRE STRIKES BACK last week was the kiss of death to the GBP move higher. Thankfully, from my own perspective I had decided to remain light on trades until the GREECE situation with its creditors is settled and because of my plan not to trade - I did not look to set up trades.\r\n\r\nHaving said that, my article was the kiss of death, the move lower in the GBP/USD was about 150 pips. Given the longer term views of my article this is really just consolidation at higher levels. The cross-rate pairs have been mixed with their moves in the last 7 days but, the pip making opportunities written about in the article are still there, and after the definitive GREECE news is released then we as traders will know what we are dealing with and then, and only then, can we trade, hopefully with directional strength behind our trade set-ups.\r\n\r\nIn the past 7 days I traded about 15-20 times, very short term scalping trades with about an 80% success rate. With regards to the PREMIUM SERVICE only 4 trades were placed. Two trades were profitable and the other two lost money. The upshot was that the PREMIUM SERVICE added just 1 pip profit in the past 7 days.\r\n\r\nI spent a lot of time checking up on news and also scheduling items for our impending house move next month.\r\n\r\nIt now looks as if the deadline on GREECE, if there is such a thing, has been moved to tomorrow (Saturday 27<sup>th</sup> June) at a hastily arranged EUROGROUP meeting. Frankly, I do NOT believe all these deadlines.\r\n\r\nIf you recall GREECE has to pay the IMF its cumulative outstanding June repayments on the 30<sup>th</sup> June. However, Lagarde (IMF President) has already stated rather humorously that if GREECE defaults on the 30<sup>th </sup>of June it’s only a technical default. Yeah right my ar**, you go tell your mortgage provider that the fact that you did not make your mortgage payment last month was just technical!\r\n\r\n&nbsp;\r\n\r\n1.2: LOOKING FORWARDS:\r\n\r\nMAJOR FOREX NEWS THIS WEEK THAT INTERESTS ME:\r\n\r\n(There are many more news items related to the Forex Market than the ones listed below. These are the ones that interest me. You can go to <a href=\"http://www.forexfactory.com\">www.forexfactory.com</a> and <a href=\"http://www.tradingeconomics.com\">www.tradingeconomics.com</a> for more comprehensive lists of all news events that are Forex related).\r\nSUNDAY: N/A.\r\n\r\nMONDAY: NZD – ANZ Business Confidence.\r\n\r\nTUESDAY: AUD – “Words of Wisdom” from RBA Governor Glenn Stevens.\r\nTUESDAY: USD – CB Consumer Confidence.\r\nTUESDAY: CNY – Manufacturing PMi and HSBC PMi data.\r\n\r\nWEDNESDAY: GBP – Manufacturing PMI.\r\nWEDNESDAY: USD – ADP Non-Farm Employment Change.\r\nWEDNESDAY: USD – ISM Manufacturing PMi.\r\nWEDNESDAY: NZD – GDT Price Index.\r\nWEDNESDAY: AUD – Trade Balance.\r\n\r\nTHURSDAY: GBP – Construction PMi.\r\nTHURSDAY: USD – Non-Farm Employment Change.\r\nTHURSDAY: AUD – Retail Sales.\r\n\r\nFRIDAY: GBP – Services PMi.\r\n\r\n&nbsp;\r\n\r\nMY THOUGHTS ON THE NEWS ITEMS THIS COMING WEEK:\r\n\r\nFrom my trading interest perspective there are more highlights on the economic data front this week than there has been of late, last week in particular was a slow week.\r\n\r\nMy FUNDAMENTAL TRADING PLAN for the remainder of 2015, involves the commodity based currencies at the core, so all news involving the AUD, NZD and CAD in particular interest me greatly.\r\n\r\nThe NZD will be one of my core currencies in my proposed plan, so with Business Confidence numbers and the Dairy Price Index news this week in addition to Chinese PMi data these items will be of high interest for me.\r\n\r\nIn addition the Trade balance and Retail Sales numbers from Australia will be interesting to digest as well as the comments from Governor Stevens at the beginning of the week.\r\n\r\nThe big news this week however that will attract the most attention is the direct USD data. Both employment releases are scheduled (ADP and Non-Farm) but also Consumer Confidence numbers and ISM Manufacturing data, which will be scrutinized closely by the FED. Expect a lot of movement.\r\n\r\nPlus not on the calendar is GREECE…. I will say no more.\r\n\r\n&nbsp;\r\n\r\n1.3: LOOKING SIDEWAYS (FOR GOOD MEASURE):\r\n\r\nI spoke with just two subscribers over the past week regarding the current situation within the Forex markets and I had a webinar (extended) session with my peer group.\r\n\r\nThe consensus after much debate was that in the existing range bound chop fest it was not only the correct idea to stay away from the EUR, but it was probably good just to day trade and even then just sit over your machine like a hawk whilst a trade was live. Basically, my plan that I had had been following for the month of June (trading light) was seen as a great policy.\r\n\r\nI knew that I had missed trades and whilst I was pinching myself a little over this fact, however, when I heard of some of the swift reversal moves in currency pairs away from and including the majors, I was glad that I had chosen to remain on the sidelines in $$$.\r\n\r\nHindsight is a wonderful thing as we all know, but in Forex trading sometimes your best trades are the ones that simply do not take and once you have your plan in place you TRADE YOUR PLAN.\r\n\r\nThis month the PREMIUM SERVICE with the “TRADE LIGHT” approach has still added 605 pips of profit to the bottom line, and, I cannot and should not complain or defend my approach this month given this result so far.\r\n\r\n&nbsp;\r\n<ol start=\"2\">\r\n	<li><strong> WHAT’S ON MY MIND: -\r\nTHE FUNDAMENTAL TRADERS OVERVIEW:</strong></li>\r\n</ol>\r\n<h3 style=\"text-align: center;\"><strong>WE ARE AT ANOTHER SET OF CROSSROADS…</strong></h3>\r\nThank goodness Eric Clapton is not paid royalties every time the word “crossroads” is used in my blog. If I earned a dollar for every time I have used the word “crossroads” in my blog to describe a situation in the markets both E.C. and I would have a tidy sum put to one side right now.\r\n\r\nWe are though, in my opinion, at another set of crossroads.\r\n\r\nGREECE, the FED and the CENTRAL BANKS being the directions on offer. That is of course unless I do a EUROZONE approach by burying my head in sand and staying fixed and solid at the crossroads not wanting to move, or I do a Mark Carney turn and run back to where I started.\r\n\r\nSeveral weeks ago I outlined at a macro level in this blog my FUNDAMENTAL TRADING PLAN for the remainder of 2015. It was focused on three main areas: -\r\n\r\n<strong>Central Bank divergence</strong>\r\n<strong>Greece creditor situation being settled to give market direction.</strong>\r\n<strong>Drop in OIL prices as supply and demand economic rules finally kick in.</strong>\r\n\r\nPlus in addition I am cognizant of: -\r\n\r\n<strong>The China slowdown.</strong>\r\n<strong>World DEFLATIONARY issues and how this supports the CURRENCY WARS.</strong>\r\n<strong>A rather over inflated price of GOLD.Potential equity markets pullback.</strong>\r\n\r\n&nbsp;\r\n\r\nThe FOMC certainly placed a stop on matters with “dithering”, but I would not have set up trades until I was aware of how GREECE would be settled.\r\n\r\nAs you know, my feelings are that we will have a default and I am hoping that the politicians involved will have the balls to actually fix the issue and provide debt relief rather than a can kicking exercise. Time will tell and we have deadlines after deadlines that mean little, plus we have the most bizarre sound-bytes being touted and we have finger pointing.\r\n\r\nAs I have stated so many times before politicians are messers / muddlers / and definitely NOT problem solvers. GREECE is a problem, it requires fixing. Politicians are experts at pointing fingers at other politicians attributing blame. They are not good at addressing problems. They have egos based primarily on retaining the popular vote; they will do whatever they can to avoid making decisions.\r\n\r\nGREECE is a biggie, the biggest test of the EUROZONE so far. There is not a single politician involved who wants to go down in the history books as the one that broke the EUROZONE.\r\n\r\nLet me be clear; my direction from the junction is to follow the road with the CENTRAL BANK DIVERGENCE direction. I have learnt the hard way never to trade against the central bank monetary policy for longer term trades, you may get a day trade in the opposite direction but do not be greedy.\r\n\r\nWhilst I am moving in the direction towards CENTRAL BANK DIVERGENCE I would like GREECE fixed and the basic economics of supply and demand to hit the Oil markets.\r\n\r\nFailure of the divergences to take effect, I believe is a non-starter it is just a question of when. Janet Yellen is definitely guilty of dithering by waiting to increase U.S. interest rates. I had hoped to be fully into my trades prior to the summer break from trading, but this looks a little optimistic at the moment. However, USD strength will power through the markets and being long the USD is the trade in my opinion.\r\n\r\nThe GREECE situation will come to a conclusion. Whichever way the GREEK situation is “fixed”, does provoke, in my opinion, a contagion effect that will keep the EUR pressured and so a short EUR/USD is the trade. In fact I see a fully supportive / accommodative ECB for quite sometime to help the EUROZONE economies.\r\n\r\nThe OIL market, which has been damaged by hedge funds and pure big money speculators, has to run on supply and demand rules very soon otherwise there simply will not be space to store the excess production. This should show a downside move in Oil and then a weakening of the CAD, MXN and NOK currencies.\r\n\r\nMy FUNDAMENTAL overview, I believe is still in place for a positive trading result. My subscribers to the PREMIUM SERVICE will receive the trades as they are placed. There are thousands of pips available through the many trading options open. To wait and let a few hundred pips go by over the past few weeks does not worry me at all, in fact I look at this delay as superior RISK MANAGEMENT given the chop fest that has been the best way to describe the last three / four weeks of the FX markets.\r\n\r\nThe crossroads are here and the direction is a no brainer for me for the reasons above.\r\n\r\nThere are matters that could spring forward that could place a “SPANNER/ WRENCH” in the wheels such as a temporary 3–6 month extension of the current GREECE bailout program but this would also require debt forgiveness, however, I just don\'t see this. There could be a world geopolitical event, but we are always at risk of these 24x7. Basically, once the FED moves and GREECE is fixed my plan will be 100% in operation. I am hoping to have my plan starting this coming week.\r\n\r\nI will however place a few words of caution.\r\n\r\nUp until the FED raises rates and the GREECE defaulters are satisfied one way or another we are at the whim of the markets. We will remain range bound. What is the point of exposing yourself to the RISK of trading too early without the FUNDAMENTAL news backup to confirm your trades?\r\n\r\nPatience is required. Trades will be missed. Great entries will pass us by but we will be exercising great RISK and MONEY MANAGEMENT DISCIPLINES.\r\n\r\nRemember, there is a Forex market almost everyday, and, everyday there are trading opportunities.\r\n\r\nIf we have to stand and wait for a little while at the crossroads waiting - so be it. As long as we do not do a EUROZONE and bury our heads in the sand all will be good moving forward.\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n<ol start=\"3\">\r\n	<li><strong> THE PREMIUM SERVICE:</strong></li>\r\n</ol>\r\n<strong>SUMMARY OF PERFORMANCE:</strong>\r\n\r\n3.1: OVERVIEW - SUBSCRIPTION OPTIONS, FEATURES and PRICING:\r\n\r\n3.2: PERFORMANCE REVIEWS:\r\n<p style=\"text-align: center;\">PREMIUM SERVICE – COST INCOME ANALYSIS (USD):</p>\r\n<p style=\"text-align: center;\">EMANATING FROM TRADE SET-UPS - 2015 to date:</p>\r\n<p style=\"text-align: center;\">MICRO LOT TRADER - 411 trades cost to trade = $41.10\r\n<strong>PROFIT</strong> from 411 trades = <strong>$594.70</strong></p>\r\n<p style=\"text-align: center;\">MINI LOT TRADER - 411 trades cost to trade = $411.00\r\n<strong>PROFIT</strong> from 411 trades = <strong>$5,947.00</strong></p>\r\n<p style=\"text-align: center;\">STANDARD LOT TRADER - 411 trades cost to trade = $4,110.00\r\n<strong>PROFIT</strong> from 411 trades = <strong>$59,470.00</strong></p>\r\n3.3: PREMIUM SERVICE - TRADE SUMMARY DETAILS MONTH &amp; YTD:\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/PS-PROFITS1-28062015.png\"><img class=\"aligncenter size-full wp-image-6194\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/PS-PROFITS1-28062015.png\" alt=\"PS PROFITS1 28062015\" width=\"457\" height=\"420\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/PS-PROFITS2-28062015.png\"><img class=\"aligncenter size-full wp-image-6195\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/PS-PROFITS2-28062015.png\" alt=\"PS PROFITS2 28062015\" width=\"460\" height=\"442\" /></a>\r\n\r\n&nbsp;\r\n<ol start=\"4\">\r\n	<li><strong> PREMIUM SERVICE SUBSCRIBER EXCLUSIVE CONTENT:</strong></li>\r\n</ol>\r\n(Section 4 is exclusive PREMIUM SERVICE content only available to PREMIUM SERVICE subscribers)\r\n\r\n4.1: EDUCATION:<u>\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 after the summer break in September 2015.\r\n\r\n&nbsp;\r\n\r\n4.2: THE PREMIUM SERVICE – TRADING REVIEW &amp; LOOKING FORWARD:\r\n\r\nOnly 4 trades in the past week, adding just one pip.\r\n\r\nI have spoken with many of you over the past month about trading lighter given the major news events dominating the news. The FOMC press conference has run by, but GREECE continues to dominate and I decided that my best TRADING PLAN was to wait.\r\n\r\nIt is choppy and we the markets are generally range bound, every now and then we see a bite of USD strength and then it’s usually followed by USD weakness. I took the position that until GREECE was “fixed” I would remain sidelined. I am happy that I have done this, even though a few trades have passed me by that I wanted to participate in.\r\n\r\nMoving forward, even allowing for the summer I am hoping over the next few days, assuming a GREECE fix, to start placing trades and limit orders in greater quantities once again.\r\n\r\nThe trading pairs I mentioned last week are still on my RADAR.\r\n\r\nSHORT: NZD/USD, EUR/GBP and NZD/CHF.\r\n\r\nLONG: AUD/NZD, GBP/CAD, GBP/AUD, GBP/NZD, EUR/AUD, EUR/CAD, EUR/NZD, USD/CHF, USD/CAD and EUR/CHF.\r\n\r\nLets hope that we can start placing some great set-ups very soon.\r\n\r\n&nbsp;\r\n\r\n4.3: THE PREMIUM SERVICE - EXISTING LIVE TRADES:\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/PS-LIVE-TRADES-28062015.png\"><img class=\"aligncenter size-full wp-image-6201\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/PS-LIVE-TRADES-28062015.png\" alt=\"PS LIVE TRADES 28062015\" width=\"720\" height=\"573\" /></a>\r\n\r\n&nbsp;\r\n\r\n4.4: THE PREMIUM SERVICE – EXISTING LIMIT ORDERS:\r\n\r\n(Remember 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<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/PS-LIMIT-ORDERS-28062015.png\"><img class=\"aligncenter size-full wp-image-6202\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/PS-LIMIT-ORDERS-28062015.png\" alt=\"PS LIMIT ORDERS 28062015\" width=\"702\" height=\"457\" /></a>\r\n\r\n4.5: ARMEGEDDON “GOLDEN” TRADES:\r\n\r\n(Emanating from conversations and requested by fellow subscribers these trade set-ups are based on severe market pullbacks, breakouts or breakdowns. These trades would apply after major geopolitical news has hit the news wires. These are also trade levels that provided great set ups in the past that would hopefully represent great entry opportunities again in the future).\r\n\r\nGOLDEN TRADE #003\r\n\r\nUSD/CHF:\r\n\r\nEnter long at 0.9060\r\n\r\nThe weekly chart below shows this level of 0.9060 as offering support on two occasions in the past 8 weeks.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/ARMEGEDDON-TRADE-003-26062015.png\"><img class=\"aligncenter size-large wp-image-6204\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/ARMEGEDDON-TRADE-003-26062015-1024x541.png\" alt=\"ARMEGEDDON TRADE #003 26062015\" width=\"1024\" height=\"541\" /></a>\r\n\r\nWith a GREEK settlement who knows what may happen, I was initially expecting a move higher with the EUR/USD, which would set this pair lower and maybe 0.9060 would come into play. Of late the single currency has been really weak and whether or not a significant bounce higher will happen is debatable. It may just be a small bounce from which sellers will sell into any strength that is shown. If this happens I doubt that my GOLDEN TRADE will come into play. However, never say never as between now and a GREECE outcome anything can happen.\r\n\r\n&nbsp;\r\n\r\n4.6: POTENTIAL TRADES - WHAT CHARTS AM I LOOKING AT?\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\nTHIS WEEKS OVERVIEW:\r\n\r\nI am not looking at any charts until I see a settlement of the GREECE situation. Any trades that will be entered will probably be FLASH TRADES based off news. I want to sell the EUR/USD into any strength. In addition I want to buy USD/CHF and maybe one or two other CHF pairs at the same time.\r\n\r\nI am expecting some volatility as the news breaks and my levels in charts will simply not be accurate or valid once the final news is out due to the expected high volatility.\r\n\r\nThe pairs that I will be looking at are: -\r\n\r\nEUR/USD, USD/CHF, EUR/GBP. EUR/CHF. GBP/CHF, NZD/USD, AUD/USD, USD/CAD and in addition I will look at some cross-rate currencies.\r\n\r\n&nbsp;\r\n\r\n4.7: MAJOR TRADING PAIRS WITH LONGER-TERM MATCHING TRENDS:\r\n\r\n(The following currency pairs have Short Term (DAILY), Medium Term (WEEKLY) and Long Term (MONTHLY) charts all trending in the same direction).\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/PS-TRENDING-PAIRS-28062015.png\"><img class=\"aligncenter size-full wp-image-6203\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/PS-TRENDING-PAIRS-28062015.png\" alt=\"PS TRENDING PAIRS 28062015\" width=\"399\" height=\"537\" /></a>\r\n\r\n4.8: THE KEY SUPPORT &amp; RESISTANCE LEVELS WITH THE USD MAJORS<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\nAll of my thoughts and my comments relating to each USD major are now contained on the charts.\r\n\r\n<strong>EUR/USD: Closing Price 1.1163</strong>\r\n\r\n<strong> <a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/EURUSD-W-28062015.png\"><img class=\"aligncenter size-large wp-image-6210\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/EURUSD-W-28062015-1024x541.png\" alt=\"EURUSD W 28062015\" width=\"1024\" height=\"541\" /></a></strong>\r\n\r\n<strong> </strong>\r\n\r\n<strong> </strong>\r\n\r\n<strong>GBP/USD: Closing Price 1.5744</strong>\r\n\r\n<strong> <a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/GBPUSD-W-28062015.png\"><img class=\"aligncenter size-large wp-image-6209\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/GBPUSD-W-28062015-1024x541.png\" alt=\"GBPUSD W 28062015\" width=\"1024\" height=\"541\" /></a></strong>\r\n\r\n<strong> </strong>\r\n\r\n<strong> </strong>\r\n\r\n<strong>AUD/USD: Closing Price 0.7655</strong>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/AUDUSD-W-28062015.png\"><img class=\"aligncenter size-large wp-image-6211\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/AUDUSD-W-28062015-1024x541.png\" alt=\"AUDUSD W 28062015\" width=\"1024\" height=\"541\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n<strong>NZD/USD: Closing Price 0.6837</strong>\r\n\r\n<strong> <a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/NZDUSD-W-28062015.png\"><img class=\"aligncenter size-large wp-image-6208\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/NZDUSD-W-28062015-1024x541.png\" alt=\"NZDUSD W 28062015\" width=\"1024\" height=\"541\" /></a></strong>\r\n\r\n<strong> </strong>\r\n\r\n<strong> </strong>\r\n\r\n<strong>USD/CAD: Closing Price 1.2315</strong>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/USDCAD-W-28062015.png\"><img class=\"aligncenter size-large wp-image-6207\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/USDCAD-W-28062015-1024x541.png\" alt=\"USDCAD W 28062015\" width=\"1024\" height=\"541\" /></a>\r\n\r\n&nbsp;\r\n\r\n<strong>USD/CHF: Closing Price 0.9327</strong>\r\n\r\n<strong> <a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/USDCHF-W-28062015.png\"><img class=\"aligncenter size-large wp-image-6206\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/USDCHF-W-28062015-1024x541.png\" alt=\"USDCHF W 28062015\" width=\"1024\" height=\"541\" /></a></strong>\r\n\r\n<strong> </strong>\r\n\r\n<strong> </strong>\r\n\r\n<strong>USD/JPY: Closing Price 123.87 </strong>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/USDJPY-W-28062015.png\"><img class=\"aligncenter size-large wp-image-6205\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/USDJPY-W-28062015-1024x541.png\" alt=\"USDJPY W 28062015\" width=\"1024\" height=\"541\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n<ol start=\"5\">\r\n	<li><strong> MY FINAL THOUGHTS:</strong></li>\r\n</ol>\r\n5.1: SUBSCRIBING TO THE “FREE VERSION” OF THE WEEKLY FX DRIVE THRU:\r\n\r\n5.2: TRADING TIPS &amp; THOUGHTS FOR THE WEEK AHEAD:\r\n\r\nRemaining light on trading may only last until Tuesday or Wednesday this week as I am hoping that the GREECE situation will be resolved one way or another. Once we know how its resolved, it sets us up knowing how to trade after the dust settles a little.\r\n\r\nThis week is a big week for big event news and there are many items of news surrounding my key currency pairs moving forward. I am hoping that I can engineer trades around these news releases to kick-start my trades at good entry levels. It is impossible to predict this but one can only hope.\r\n\r\nAs always, with high-risk news on the imminent horizon it is now in my mind, even more important to stick to core trading principles.\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 June 28th 2015\r\n\r\nEMAIL / FOLLOW ME AT:\r\npremiumservice@weeklyfxdrivethru.com\r\nhttp://www.twitter.com/pipaccumulator\r\nhttp://www.twitter.com/ThePremService\r\nhttp://www.google.com/+ScottPickering\r\nhttp://www.youtube.com/c/ScottPickering\r\nhttp://www.thepipaccumulator.tumblr.com\r\nhttp://www.stocktwits.com/thepipaccumulator\r\n\r\nVIEWS AND COMMENTS IN THIS BLOG:\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\nTHIRD PARTY COMPANIES WITH BANNERS ON MY WEBSITE:\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\nTRADING &amp; PERFORMANCES DISCLAIMER:\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.','WE ARE AT ANOTHER SET OF CROSSROADS…','','publish','open','closed','','we-are-at-another-set-of-crossroads','','','2015-06-27 05:51:33','2015-06-27 10:51:33','',0,'https://weeklyfxdrivethru.com/?post_type=member_posts&#038;p=6212',0,'member_posts','',0),(6214,1,'2015-06-27 05:51:19','2015-06-27 10:51:19','<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: 26.06.2015\r\nREFERENCE: #66\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\nLOOKING BACKWARDS, FORWARDS &amp; SIDEWAYS (FOR GOOD MEASURE) AT THE FX MARKET:\r\n\r\n1.1: LOOKING BACKWARDS:\r\n\r\nWell my piece on THE EMPIRE STRIKES BACK last week was the kiss of death to the GBP move higher. Thankfully, from my own perspective I had decided to remain light on trades until the GREECE situation with its creditors is settled and because of my plan not to trade - I did not look to set up trades.\r\n\r\nHaving said that, my article was the kiss of death, the move lower in the GBP/USD was about 150 pips. Given the longer term views of my article this is really just consolidation at higher levels. The cross-rate pairs have been mixed with their moves in the last 7 days but, the pip making opportunities written about in the article are still there, and after the definitive GREECE news is released then we as traders will know what we are dealing with and then, and only then, can we trade, hopefully with directional strength behind our trade set-ups.\r\n\r\nIn the past 7 days I traded about 15-20 times, very short term scalping trades with about an 80% success rate. With regards to the PREMIUM SERVICE only 4 trades were placed. Two trades were profitable and the other two lost money. The upshot was that the PREMIUM SERVICE added just 1 pip profit in the past 7 days.\r\n\r\nI spent a lot of time checking up on news and also scheduling items for our impending house move next month.\r\n\r\nIt now looks as if the deadline on GREECE, if there is such a thing, has been moved to tomorrow (Saturday 27<sup>th</sup> June) at a hastily arranged EUROGROUP meeting. Frankly, I do NOT believe all these deadlines.\r\n\r\nIf you recall GREECE has to pay the IMF its cumulative outstanding June repayments on the 30<sup>th</sup> June. However, Lagarde (IMF President) has already stated rather humorously that if GREECE defaults on the 30<sup>th </sup>of June it’s only a technical default. Yeah right my ar**, you go tell your mortgage provider that the fact that you did not make your mortgage payment last month was just technical!\r\n\r\n&nbsp;\r\n\r\n1.2: LOOKING FORWARDS:\r\n\r\nMAJOR FOREX NEWS THIS WEEK THAT INTERESTS ME:\r\n\r\n(There are many more news items related to the Forex Market than the ones listed below. These are the ones that interest me. You can go to <a href=\"http://www.forexfactory.com\">www.forexfactory.com</a> and <a href=\"http://www.tradingeconomics.com\">www.tradingeconomics.com</a> for more comprehensive lists of all news events that are Forex related).\r\nSUNDAY: N/A.\r\n\r\nMONDAY: NZD – ANZ Business Confidence.\r\n\r\nTUESDAY: AUD – “Words of Wisdom” from RBA Governor Glenn Stevens.\r\nTUESDAY: USD – CB Consumer Confidence.\r\nTUESDAY: CNY – Manufacturing PMi and HSBC PMi data.\r\n\r\nWEDNESDAY: GBP – Manufacturing PMI.\r\nWEDNESDAY: USD – ADP Non-Farm Employment Change.\r\nWEDNESDAY: USD – ISM Manufacturing PMi.\r\nWEDNESDAY: NZD – GDT Price Index.\r\nWEDNESDAY: AUD – Trade Balance.\r\n\r\nTHURSDAY: GBP – Construction PMi.\r\nTHURSDAY: USD – Non-Farm Employment Change.\r\nTHURSDAY: AUD – Retail Sales.\r\n\r\nFRIDAY: GBP – Services PMi.\r\n\r\n&nbsp;\r\n\r\nMY THOUGHTS ON THE NEWS ITEMS THIS COMING WEEK:\r\n\r\nFrom my trading interest perspective there are more highlights on the economic data front this week than there has been of late, last week in particular was a slow week.\r\n\r\nMy FUNDAMENTAL TRADING PLAN for the remainder of 2015, involves the commodity based currencies at the core, so all news involving the AUD, NZD and CAD in particular interest me greatly.\r\n\r\nThe NZD will be one of my core currencies in my proposed plan, so with Business Confidence numbers and the Dairy Price Index news this week in addition to Chinese PMi data these items will be of high interest for me.\r\n\r\nIn addition the Trade balance and Retail Sales numbers from Australia will be interesting to digest as well as the comments from Governor Stevens at the beginning of the week.\r\n\r\nThe big news this week however that will attract the most attention is the direct USD data. Both employment releases are scheduled (ADP and Non-Farm) but also Consumer Confidence numbers and ISM Manufacturing data, which will be scrutinized closely by the FED. Expect a lot of movement.\r\n\r\nPlus not on the calendar is GREECE…. I will say no more.\r\n\r\n&nbsp;\r\n\r\n1.3: LOOKING SIDEWAYS (FOR GOOD MEASURE):\r\n\r\nI spoke with just two subscribers over the past week regarding the current situation within the Forex markets and I had a webinar (extended) session with my peer group.\r\n\r\nThe consensus after much debate was that in the existing range bound chop fest it was not only the correct idea to stay away from the EUR, but it was probably good just to day trade and even then just sit over your machine like a hawk whilst a trade was live. Basically, my plan that I had had been following for the month of June (trading light) was seen as a great policy.\r\n\r\nI knew that I had missed trades and whilst I was pinching myself a little over this fact, however, when I heard of some of the swift reversal moves in currency pairs away from and including the majors, I was glad that I had chosen to remain on the sidelines in $$$.\r\n\r\nHindsight is a wonderful thing as we all know, but in Forex trading sometimes your best trades are the ones that simply do not take and once you have your plan in place you TRADE YOUR PLAN.\r\n\r\nThis month the PREMIUM SERVICE with the “TRADE LIGHT” approach has still added 605 pips of profit to the bottom line, and, I cannot and should not complain or defend my approach this month given this result so far.\r\n\r\n&nbsp;\r\n<ol start=\"2\">\r\n	<li><strong> WHAT’S ON MY MIND: -\r\nTHE FUNDAMENTAL TRADERS OVERVIEW:</strong></li>\r\n</ol>\r\n<h3 style=\"text-align: center;\"><strong>WE ARE AT ANOTHER SET OF CROSSROADS…</strong></h3>\r\nThank goodness Eric Clapton is not paid royalties every time the word “crossroads” is used in my blog. If I earned a dollar for every time I have used the word “crossroads” in my blog to describe a situation in the markets both E.C. and I would have a tidy sum put to one side right now.\r\n\r\nWe are though, in my opinion, at another set of crossroads.\r\n\r\nGREECE, the FED and the CENTRAL BANKS being the directions on offer. That is of course unless I do a EUROZONE approach by burying my head in sand and staying fixed and solid at the crossroads not wanting to move, or I do a Mark Carney turn and run back to where I started.\r\n\r\nSeveral weeks ago I outlined at a macro level in this blog my FUNDAMENTAL TRADING PLAN for the remainder of 2015. It was focused on three main areas: -\r\n\r\n<strong>Central Bank divergence</strong>\r\n<strong>Greece creditor situation being settled to give market direction.</strong>\r\n<strong>Drop in OIL prices as supply and demand economic rules finally kick in.</strong>\r\n\r\nPlus in addition I am cognizant of: -\r\n\r\n<strong>The China slowdown.</strong>\r\n<strong>World DEFLATIONARY issues and how this supports the CURRENCY WARS.</strong>\r\n<strong>A rather over inflated price of GOLD.Potential equity markets pullback.</strong>\r\n\r\n&nbsp;\r\n\r\nThe FOMC certainly placed a stop on matters with “dithering”, but I would not have set up trades until I was aware of how GREECE would be settled.\r\n\r\nAs you know, my feelings are that we will have a default and I am hoping that the politicians involved will have the balls to actually fix the issue and provide debt relief rather than a can kicking exercise. Time will tell and we have deadlines after deadlines that mean little, plus we have the most bizarre sound-bytes being touted and we have finger pointing.\r\n\r\nAs I have stated so many times before politicians are messers / muddlers / and definitely NOT problem solvers. GREECE is a problem, it requires fixing. Politicians are experts at pointing fingers at other politicians attributing blame. They are not good at addressing problems. They have egos based primarily on retaining the popular vote; they will do whatever they can to avoid making decisions.\r\n\r\nGREECE is a biggie, the biggest test of the EUROZONE so far. There is not a single politician involved who wants to go down in the history books as the one that broke the EUROZONE.\r\n\r\nLet me be clear; my direction from the junction is to follow the road with the CENTRAL BANK DIVERGENCE direction. I have learnt the hard way never to trade against the central bank monetary policy for longer term trades, you may get a day trade in the opposite direction but do not be greedy.\r\n\r\nWhilst I am moving in the direction towards CENTRAL BANK DIVERGENCE I would like GREECE fixed and the basic economics of supply and demand to hit the Oil markets.\r\n\r\nFailure of the divergences to take effect, I believe is a non-starter it is just a question of when. Janet Yellen is definitely guilty of dithering by waiting to increase U.S. interest rates. I had hoped to be fully into my trades prior to the summer break from trading, but this looks a little optimistic at the moment. However, USD strength will power through the markets and being long the USD is the trade in my opinion.\r\n\r\nThe GREECE situation will come to a conclusion. Whichever way the GREEK situation is “fixed”, does provoke, in my opinion, a contagion effect that will keep the EUR pressured and so a short EUR/USD is the trade. In fact I see a fully supportive / accommodative ECB for quite sometime to help the EUROZONE economies.\r\n\r\nThe OIL market, which has been damaged by hedge funds and pure big money speculators, has to run on supply and demand rules very soon otherwise there simply will not be space to store the excess production. This should show a downside move in Oil and then a weakening of the CAD, MXN and NOK currencies.\r\n\r\nMy FUNDAMENTAL overview, I believe is still in place for a positive trading result. My subscribers to the PREMIUM SERVICE will receive the trades as they are placed. There are thousands of pips available through the many trading options open. To wait and let a few hundred pips go by over the past few weeks does not worry me at all, in fact I look at this delay as superior RISK MANAGEMENT given the chop fest that has been the best way to describe the last three / four weeks of the FX markets.\r\n\r\nThe crossroads are here and the direction is a no brainer for me for the reasons above.\r\n\r\nThere are matters that could spring forward that could place a “SPANNER/ WRENCH” in the wheels such as a temporary 3–6 month extension of the current GREECE bailout program but this would also require debt forgiveness, however, I just don\'t see this. There could be a world geopolitical event, but we are always at risk of these 24x7. Basically, once the FED moves and GREECE is fixed my plan will be 100% in operation. I am hoping to have my plan starting this coming week.\r\n\r\nI will however place a few words of caution.\r\n\r\nUp until the FED raises rates and the GREECE defaulters are satisfied one way or another we are at the whim of the markets. We will remain range bound. What is the point of exposing yourself to the RISK of trading too early without the FUNDAMENTAL news backup to confirm your trades?\r\n\r\nPatience is required. Trades will be missed. Great entries will pass us by but we will be exercising great RISK and MONEY MANAGEMENT DISCIPLINES.\r\n\r\nRemember, there is a Forex market almost everyday, and, everyday there are trading opportunities.\r\n\r\nIf we have to stand and wait for a little while at the crossroads waiting - so be it. As long as we do not do a EUROZONE and bury our heads in the sand all will be good moving forward.\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n<ol start=\"3\">\r\n	<li><strong></strong><strong> THE PREMIUM SERVICE:</strong>&nbsp;</li>\r\n</ol>\r\n<strong>SUMMARY OF PERFORMANCE:</strong>\r\n\r\n3.1: OVERVIEW - SUBSCRIPTION OPTIONS, FEATURES and PRICING:\r\n\r\n3.2: PERFORMANCE REVIEWS:\r\n<p style=\"text-align: center;\">PREMIUM SERVICE – COST INCOME ANALYSIS (USD):</p>\r\n<p style=\"text-align: center;\">EMANATING FROM TRADE SET-UPS - 2015 to date:</p>\r\n<p style=\"text-align: center;\">MICRO LOT TRADER - 411 trades cost to trade = $41.10\r\n<strong>PROFIT</strong> from 411 trades = <strong>$594.70</strong></p>\r\n<p style=\"text-align: center;\">MINI LOT TRADER - 411 trades cost to trade = $411.00\r\n<strong>PROFIT</strong> from 411 trades = <strong>$5,947.00</strong></p>\r\n<p style=\"text-align: center;\">STANDARD LOT TRADER - 411 trades cost to trade = $4,110.00\r\n<strong>PROFIT</strong> from 411 trades = <strong>$59,470.00</strong></p>\r\n<p style=\"text-align: center;\"></p>\r\n3.3: PREMIUM SERVICE - TRADE SUMMARY DETAILS MONTH &amp; YTD:\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/PS-PROFITS1-28062015.png\"><img class=\"aligncenter size-full wp-image-6194\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/PS-PROFITS1-28062015.png\" alt=\"PS PROFITS1 28062015\" width=\"457\" height=\"420\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/PS-PROFITS2-28062015.png\"><img class=\"aligncenter size-full wp-image-6195\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/PS-PROFITS2-28062015.png\" alt=\"PS PROFITS2 28062015\" width=\"460\" height=\"442\" /></a>\r\n\r\n&nbsp;\r\n<ol start=\"4\">\r\n	<li><strong> PREMIUM SERVICE SUBSCRIBER EXCLUSIVE CONTENT:</strong></li>\r\n</ol>\r\n(Section 4 is exclusive PREMIUM SERVICE content only available to PREMIUM SERVICE subscribers)\r\n\r\n4.1: EDUCATION:<u>\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 after the summer break in September 2015.\r\n\r\n&nbsp;\r\n\r\n4.2: THE PREMIUM SERVICE – TRADING REVIEW &amp; LOOKING FORWARD:\r\n\r\nOnly 4 trades in the past week, adding just one pip.\r\n\r\nI have spoken with many of you over the past month about trading lighter given the major news events dominating the news. The FOMC press conference has run by, but GREECE continues to dominate and I decided that my best TRADING PLAN was to wait.\r\n\r\nIt is choppy and we the markets are generally range bound, every now and then we see a bite of USD strength and then it’s usually followed by USD weakness. I took the position that until GREECE was “fixed” I would remain sidelined. I am happy that I have done this, even though a few trades have passed me by that I wanted to participate in.\r\n\r\nMoving forward, even allowing for the summer I am hoping over the next few days, assuming a GREECE fix, to start placing trades and limit orders in greater quantities once again.\r\n\r\nThe trading pairs I mentioned last week are still on my RADAR.\r\n\r\nSHORT: NZD/USD, EUR/GBP and NZD/CHF.\r\n\r\nLONG: AUD/NZD, GBP/CAD, GBP/AUD, GBP/NZD, EUR/AUD, EUR/CAD, EUR/NZD, USD/CHF, USD/CAD and EUR/CHF.\r\n\r\nLets hope that we can start placing some great set-ups very soon.\r\n\r\n&nbsp;\r\n\r\n4.3: THE PREMIUM SERVICE - EXISTING LIVE TRADES:\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/PS-LIVE-TRADES-28062015.png\"><img class=\"aligncenter size-full wp-image-6201\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/PS-LIVE-TRADES-28062015.png\" alt=\"PS LIVE TRADES 28062015\" width=\"720\" height=\"573\" /></a>\r\n\r\n&nbsp;\r\n\r\n4.4: THE PREMIUM SERVICE – EXISTING LIMIT ORDERS:\r\n\r\n(Remember 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<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/PS-LIMIT-ORDERS-28062015.png\"><img class=\"aligncenter size-full wp-image-6202\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/PS-LIMIT-ORDERS-28062015.png\" alt=\"PS LIMIT ORDERS 28062015\" width=\"702\" height=\"457\" /></a>\r\n\r\n4.5: ARMEGEDDON “GOLDEN” TRADES:\r\n\r\n(Emanating from conversations and requested by fellow subscribers these trade set-ups are based on severe market pullbacks, breakouts or breakdowns. These trades would apply after major geopolitical news has hit the news wires. These are also trade levels that provided great set ups in the past that would hopefully represent great entry opportunities again in the future).\r\n\r\nGOLDEN TRADE #003\r\n\r\nUSD/CHF:\r\n\r\nEnter long at 0.9060\r\n\r\nThe weekly chart below shows this level of 0.9060 as offering support on two occasions in the past 8 weeks.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/ARMEGEDDON-TRADE-003-26062015.png\"><img class=\"aligncenter size-large wp-image-6204\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/ARMEGEDDON-TRADE-003-26062015-1024x541.png\" alt=\"ARMEGEDDON TRADE #003 26062015\" width=\"1024\" height=\"541\" /></a>\r\n\r\nWith a GREEK settlement who knows what may happen, I was initially expecting a move higher with the EUR/USD, which would set this pair lower and maybe 0.9060 would come into play. Of late the single currency has been really weak and whether or not a significant bounce higher will happen is debatable. It may just be a small bounce from which sellers will sell into any strength that is shown. If this happens I doubt that my GOLDEN TRADE will come into play. However, never say never as between now and a GREECE outcome anything can happen.\r\n\r\n&nbsp;\r\n\r\n4.6: POTENTIAL TRADES - WHAT CHARTS AM I LOOKING AT?\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\nTHIS WEEKS OVERVIEW:\r\n\r\nI am not looking at any charts until I see a settlement of the GREECE situation. Any trades that will be entered will probably be FLASH TRADES based off news. I want to sell the EUR/USD into any strength. In addition I want to buy USD/CHF and maybe one or two other CHF pairs at the same time.\r\n\r\nI am expecting some volatility as the news breaks and my levels in charts will simply not be accurate or valid once the final news is out due to the expected high volatility.\r\n\r\nThe pairs that I will be looking at are: -\r\n\r\nEUR/USD, USD/CHF, EUR/GBP. EUR/CHF. GBP/CHF, NZD/USD, AUD/USD, USD/CAD and in addition I will look at some cross-rate currencies.\r\n\r\n&nbsp;\r\n\r\n4.7: MAJOR TRADING PAIRS WITH LONGER-TERM MATCHING TRENDS:\r\n\r\n(The following currency pairs have Short Term (DAILY), Medium Term (WEEKLY) and Long Term (MONTHLY) charts all trending in the same direction).\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/PS-TRENDING-PAIRS-28062015.png\"><img class=\"aligncenter size-full wp-image-6203\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/PS-TRENDING-PAIRS-28062015.png\" alt=\"PS TRENDING PAIRS 28062015\" width=\"399\" height=\"537\" /></a>\r\n\r\n4.8: THE KEY SUPPORT &amp; RESISTANCE LEVELS WITH THE USD MAJORS<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\nAll of my thoughts and my comments relating to each USD major are now contained on the charts.\r\n\r\n<strong>EUR/USD: Closing Price 1.1163</strong>\r\n\r\n<strong> <a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/EURUSD-W-28062015.png\"><img class=\"aligncenter size-large wp-image-6210\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/EURUSD-W-28062015-1024x541.png\" alt=\"EURUSD W 28062015\" width=\"1024\" height=\"541\" /></a></strong>\r\n\r\n<strong> </strong>\r\n\r\n<strong> </strong>\r\n\r\n<strong>GBP/USD: Closing Price 1.5744</strong>\r\n\r\n<strong> <a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/GBPUSD-W-28062015.png\"><img class=\"aligncenter size-large wp-image-6209\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/GBPUSD-W-28062015-1024x541.png\" alt=\"GBPUSD W 28062015\" width=\"1024\" height=\"541\" /></a></strong>\r\n\r\n<strong> </strong>\r\n\r\n<strong> </strong>\r\n\r\n<strong>AUD/USD: Closing Price 0.7655</strong>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/AUDUSD-W-28062015.png\"><img class=\"aligncenter size-large wp-image-6211\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/AUDUSD-W-28062015-1024x541.png\" alt=\"AUDUSD W 28062015\" width=\"1024\" height=\"541\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n<strong>NZD/USD: Closing Price 0.6837</strong>\r\n\r\n<strong> <a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/NZDUSD-W-28062015.png\"><img class=\"aligncenter size-large wp-image-6208\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/NZDUSD-W-28062015-1024x541.png\" alt=\"NZDUSD W 28062015\" width=\"1024\" height=\"541\" /></a></strong>\r\n\r\n<strong> </strong>\r\n\r\n<strong> </strong>\r\n\r\n<strong>USD/CAD: Closing Price 1.2315</strong>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/USDCAD-W-28062015.png\"><img class=\"aligncenter size-large wp-image-6207\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/USDCAD-W-28062015-1024x541.png\" alt=\"USDCAD W 28062015\" width=\"1024\" height=\"541\" /></a>\r\n\r\n&nbsp;\r\n\r\n<strong>USD/CHF: Closing Price 0.9327</strong>\r\n\r\n<strong> <a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/USDCHF-W-28062015.png\"><img class=\"aligncenter size-large wp-image-6206\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/USDCHF-W-28062015-1024x541.png\" alt=\"USDCHF W 28062015\" width=\"1024\" height=\"541\" /></a></strong>\r\n\r\n<strong> </strong>\r\n\r\n<strong> </strong>\r\n\r\n<strong>USD/JPY: Closing Price 123.87 </strong>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/USDJPY-W-28062015.png\"><img class=\"aligncenter size-large wp-image-6205\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/USDJPY-W-28062015-1024x541.png\" alt=\"USDJPY W 28062015\" width=\"1024\" height=\"541\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n<ol start=\"5\">\r\n	<li><strong> MY FINAL THOUGHTS:</strong></li>\r\n</ol>\r\n5.1: SUBSCRIBING TO THE “FREE VERSION” OF THE WEEKLY FX DRIVE THRU:\r\n\r\n5.2: TRADING TIPS &amp; THOUGHTS FOR THE WEEK AHEAD:\r\n\r\nRemaining light on trading may only last until Tuesday or Wednesday this week as I am hoping that the GREECE situation will be resolved one way or another. Once we know how its resolved, it sets us up knowing how to trade after the dust settles a little.\r\n\r\nThis week is a big week for big event news and there are many items of news surrounding my key currency pairs moving forward. I am hoping that I can engineer trades around these news releases to kick-start my trades at good entry levels. It is impossible to predict this but one can only hope.\r\n\r\nAs always, with high-risk news on the imminent horizon it is now in my mind, even more important to stick to core trading principles.\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 June 28th 2015\r\n\r\nEMAIL / FOLLOW ME AT:\r\npremiumservice@weeklyfxdrivethru.com\r\nhttp://www.twitter.com/pipaccumulator\r\nhttp://www.twitter.com/ThePremService\r\nhttp://www.google.com/+ScottPickering\r\nhttp://www.youtube.com/c/ScottPickering\r\nhttp://www.thepipaccumulator.tumblr.com\r\nhttp://www.stocktwits.com/thepipaccumulator\r\n\r\nVIEWS AND COMMENTS IN THIS BLOG:\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\nTHIRD PARTY COMPANIES WITH BANNERS ON MY WEBSITE:\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\nTRADING &amp; PERFORMANCES DISCLAIMER:\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.','WE ARE AT ANOTHER SET OF CROSSROADS…','','inherit','open','closed','','6212-revision-v1','','','2015-06-27 05:51:19','2015-06-27 10:51:19','',6212,'https://weeklyfxdrivethru.com/6212-revision-v1/',0,'revision','',0),(6213,1,'2015-06-27 05:49:21','2015-06-27 10:49:21','<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: 26.06.2015\r\nREFERENCE: #66\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\nLOOKING BACKWARDS, FORWARDS &amp; SIDEWAYS (FOR GOOD MEASURE) AT THE FX MARKET:\r\n\r\n1.1: LOOKING BACKWARDS:\r\n\r\nWell my piece on THE EMPIRE STRIKES BACK last week was the kiss of death to the GBP move higher. Thankfully, from my own perspective I had decided to remain light on trades until the GREECE situation with its creditors is settled and because of my plan not to trade - I did not look to set up trades.\r\n\r\nHaving said that, my article was the kiss of death, the move lower in the GBP/USD was about 150 pips. Given the longer term views of my article this is really just consolidation at higher levels. The cross-rate pairs have been mixed with their moves in the last 7 days but, the pip making opportunities written about in the article are still there, and after the definitive GREECE news is released then we as traders will know what we are dealing with and then, and only then, can we trade, hopefully with directional strength behind our trade set-ups.\r\n\r\nIn the past 7 days I traded about 15-20 times, very short term scalping trades with about an 80% success rate. With regards to the PREMIUM SERVICE only 4 trades were placed. Two trades were profitable and the other two lost money. The upshot was that the PREMIUM SERVICE added just 1 pip profit in the past 7 days.\r\n\r\nI spent a lot of time checking up on news and also scheduling items for our impending house move next month.\r\n\r\nIt now looks as if the deadline on GREECE, if there is such a thing, has been moved to tomorrow (Saturday 27<sup>th</sup> June) at a hastily arranged EUROGROUP meeting. Frankly, I do NOT believe all these deadlines.\r\n\r\nIf you recall GREECE has to pay the IMF its cumulative outstanding June repayments on the 30<sup>th</sup> June. However, Lagarde (IMF President) has already stated rather humorously that if GREECE defaults on the 30<sup>th </sup>of June it’s only a technical default. Yeah right my ar**, you go tell your mortgage provider that the fact that you did not make your mortgage payment last month was just technical!\r\n\r\n&nbsp;\r\n\r\n1.2: LOOKING FORWARDS:\r\n\r\nMAJOR FOREX NEWS THIS WEEK THAT INTERESTS ME:\r\n\r\n(There are many more news items related to the Forex Market than the ones listed below. These are the ones that interest me. You can go to <a href=\"http://www.forexfactory.com\">www.forexfactory.com</a> and <a href=\"http://www.tradingeconomics.com\">www.tradingeconomics.com</a> for more comprehensive lists of all news events that are Forex related).\r\nSUNDAY: N/A.\r\n\r\nMONDAY: NZD – ANZ Business Confidence.\r\n\r\nTUESDAY: AUD – “Words of Wisdom” from RBA Governor Glenn Stevens.\r\nTUESDAY: USD – CB Consumer Confidence.\r\nTUESDAY: CNY – Manufacturing PMi and HSBC PMi data.\r\n\r\nWEDNESDAY: GBP – Manufacturing PMI.\r\nWEDNESDAY: USD – ADP Non-Farm Employment Change.\r\nWEDNESDAY: USD – ISM Manufacturing PMi.\r\nWEDNESDAY: NZD – GDT Price Index.\r\nWEDNESDAY: AUD – Trade Balance.\r\n\r\nTHURSDAY: GBP – Construction PMi.\r\nTHURSDAY: USD – Non-Farm Employment Change.\r\nTHURSDAY: AUD – Retail Sales.\r\n\r\nFRIDAY: GBP – Services PMi.\r\n\r\n&nbsp;\r\n\r\nMY THOUGHTS ON THE NEWS ITEMS THIS COMING WEEK:\r\n\r\nFrom my trading interest perspective there are more highlights on the economic data front this week than there has been of late, last week in particular was a slow week.\r\n\r\nMy FUNDAMENTAL TRADING PLAN for the remainder of 2015, involves the commodity based currencies at the core, so all news involving the AUD, NZD and CAD in particular interest me greatly.\r\n\r\nThe NZD will be one of my core currencies in my proposed plan, so with Business Confidence numbers and the Dairy Price Index news this week in addition to Chinese PMi data these items will be of high interest for me.\r\n\r\nIn addition the Trade balance and Retail Sales numbers from Australia will be interesting to digest as well as the comments from Governor Stevens at the beginning of the week.\r\n\r\nThe big news this week however that will attract the most attention is the direct USD data. Both employment releases are scheduled (ADP and Non-Farm) but also Consumer Confidence numbers and ISM Manufacturing data, which will be scrutinized closely by the FED. Expect a lot of movement.\r\n\r\nPlus not on the calendar is GREECE…. I will say no more.\r\n\r\n&nbsp;\r\n\r\n1.3: LOOKING SIDEWAYS (FOR GOOD MEASURE):\r\n\r\nI spoke with just two subscribers over the past week regarding the current situation within the Forex markets and I had a webinar (extended) session with my peer group.\r\n\r\nThe consensus after much debate was that in the existing range bound chop fest it was not only the correct idea to stay away from the EUR, but it was probably good just to day trade and even then just sit over your machine like a hawk whilst a trade was live. Basically, my plan that I had had been following for the month of June (trading light) was seen as a great policy.\r\n\r\nI knew that I had missed trades and whilst I was pinching myself a little over this fact, however, when I heard of some of the swift reversal moves in currency pairs away from and including the majors, I was glad that I had chosen to remain on the sidelines in $$$.\r\n\r\nHindsight is a wonderful thing as we all know, but in Forex trading sometimes your best trades are the ones that simply do not take and once you have your plan in place you TRADE YOUR PLAN.\r\n\r\nThis month the PREMIUM SERVICE with the “TRADE LIGHT” approach has still added 605 pips of profit to the bottom line, and, I cannot and should not complain or defend my approach this month given this result so far.\r\n\r\n&nbsp;\r\n<ol start=\"2\">\r\n	<li><strong> WHAT’S ON MY MIND: -\r\nTHE FUNDAMENTAL TRADERS OVERVIEW:</strong></li>\r\n</ol>\r\n<h3 style=\"text-align: center;\"><strong>WE ARE AT ANOTHER SET OF CROSSROADS…</strong></h3>\r\nThank goodness Eric Clapton is not paid royalties every time the word “crossroads” is used in my blog. If I earned a dollar for every time I have used the word “crossroads” in my blog to describe a situation in the markets both E.C. and I would have a tidy sum put to one side right now.\r\n\r\nWe are though, in my opinion, at another set of crossroads.\r\n\r\nGREECE, the FED and the CENTRAL BANKS being the directions on offer. That is of course unless I do a EUROZONE approach by burying my head in sand and staying fixed and solid at the crossroads not wanting to move, or I do a Mark Carney turn and run back to where I started.\r\n\r\nSeveral weeks ago I outlined at a macro level in this blog my FUNDAMENTAL TRADING PLAN for the remainder of 2015. It was focused on three main areas: -\r\n\r\n<strong>Central Bank divergence</strong>\r\n<strong>Greece creditor situation being settled to give market direction.</strong>\r\n<strong>Drop in OIL prices as supply and demand economic rules finally kick in.</strong>\r\n\r\nPlus in addition I am cognizant of: -\r\n\r\n<strong>The China slowdown.</strong>\r\n<strong>World DEFLATIONARY issues and how this supports the CURRENCY WARS.</strong>\r\n<strong>A rather over inflated price of GOLD.Potential equity markets pullback.</strong>\r\n\r\n&nbsp;\r\n\r\nThe FOMC certainly placed a stop on matters with “dithering”, but I would not have set up trades until I was aware of how GREECE would be settled.\r\n\r\nAs you know, my feelings are that we will have a default and I am hoping that the politicians involved will have the balls to actually fix the issue and provide debt relief rather than a can kicking exercise. Time will tell and we have deadlines after deadlines that mean little, plus we have the most bizarre sound-bytes being touted and we have finger pointing.\r\n\r\nAs I have stated so many times before politicians are messers / muddlers / and definitely NOT problem solvers. GREECE is a problem, it requires fixing. Politicians are experts at pointing fingers at other politicians attributing blame. They are not good at addressing problems. They have egos based primarily on retaining the popular vote; they will do whatever they can to avoid making decisions.\r\n\r\nGREECE is a biggie, the biggest test of the EUROZONE so far. There is not a single politician involved who wants to go down in the history books as the one that broke the EUROZONE.\r\n\r\nLet me be clear; my direction from the junction is to follow the road with the CENTRAL BANK DIVERGENCE direction. I have learnt the hard way never to trade against the central bank monetary policy for longer term trades, you may get a day trade in the opposite direction but do not be greedy.\r\n\r\nWhilst I am moving in the direction towards CENTRAL BANK DIVERGENCE I would like GREECE fixed and the basic economics of supply and demand to hit the Oil markets.\r\n\r\nFailure of the divergences to take effect, I believe is a non-starter it is just a question of when. Janet Yellen is definitely guilty of dithering by waiting to increase U.S. interest rates. I had hoped to be fully into my trades prior to the summer break from trading, but this looks a little optimistic at the moment. However, USD strength will power through the markets and being long the USD is the trade in my opinion.\r\n\r\nThe GREECE situation will come to a conclusion. Whichever way the GREEK situation is “fixed”, does provoke, in my opinion, a contagion effect that will keep the EUR pressured and so a short EUR/USD is the trade. In fact I see a fully supportive / accommodative ECB for quite sometime to help the EUROZONE economies.\r\n\r\nThe OIL market, which has been damaged by hedge funds and pure big money speculators, has to run on supply and demand rules very soon otherwise there simply will not be space to store the excess production. This should show a downside move in Oil and then a weakening of the CAD, MXN and NOK currencies.\r\n\r\nMy FUNDAMENTAL overview, I believe is still in place for a positive trading result. My subscribers to the PREMIUM SERVICE will receive the trades as they are placed. There are thousands of pips available through the many trading options open. To wait and let a few hundred pips go by over the past few weeks does not worry me at all, in fact I look at this delay as superior RISK MANAGEMENT given the chop fest that has been the best way to describe the last three / four weeks of the FX markets.\r\n\r\nThe crossroads are here and the direction is a no brainer for me for the reasons above.\r\n\r\nThere are matters that could spring forward that could place a “SPANNER/ WRENCH” in the wheels such as a temporary 3–6 month extension of the current GREECE bailout program but this would also require debt forgiveness, however, I just don\'t see this. There could be a world geopolitical event, but we are always at risk of these 24x7. Basically, once the FED moves and GREECE is fixed my plan will be 100% in operation. I am hoping to have my plan starting this coming week.\r\n\r\nI will however place a few words of caution.\r\n\r\nUp until the FED raises rates and the GREECE defaulters are satisfied one way or another we are at the whim of the markets. We will remain range bound. What is the point of exposing yourself to the RISK of trading too early without the FUNDAMENTAL news backup to confirm your trades?\r\n\r\nPatience is required. Trades will be missed. Great entries will pass us by but we will be exercising great RISK and MONEY MANAGEMENT DISCIPLINES.\r\n\r\nRemember, there is a Forex market almost everyday, and, everyday there are trading opportunities.\r\n\r\nIf we have to stand and wait for a little while at the crossroads waiting - so be it. As long as we do not do a EUROZONE and bury our heads in the sand all will be good moving forward.\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n<ol start=\"3\">\r\n	<li><strong> THE PREMIUM SERVICE:\r\n\r\n</strong></li>\r\n</ol>\r\n<strong>SUMMARY OF PERFORMANCE:</strong>\r\n\r\n3.1: OVERVIEW - SUBSCRIPTION OPTIONS, FEATURES and PRICING:\r\n\r\n3.2: PERFORMANCE REVIEWS:\r\n<p style=\"text-align: center;\">PREMIUM SERVICE – COST INCOME ANALYSIS (USD):</p>\r\n<p style=\"text-align: center;\">EMANATING FROM TRADE SET-UPS - 2015 to date:</p>\r\n<p style=\"text-align: center;\">MICRO LOT TRADER - 411 trades cost to trade = $41.10\r\n<strong>PROFIT</strong> from 411 trades = <strong>$594.70</strong></p>\r\n<p style=\"text-align: center;\">MINI LOT TRADER - 411 trades cost to trade = $411.00\r\n<strong>PROFIT</strong> from 411 trades = <strong>$5,947.00</strong></p>\r\n<p style=\"text-align: center;\">STANDARD LOT TRADER - 411 trades cost to trade = $4,110.00\r\n<strong>PROFIT</strong> from 411 trades = <strong>$59,470.00</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\n3.3: PREMIUM SERVICE - TRADE SUMMARY DETAILS MONTH &amp; YTD:\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/PS-PROFITS1-28062015.png\"><img class=\"aligncenter size-full wp-image-6194\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/PS-PROFITS1-28062015.png\" alt=\"PS PROFITS1 28062015\" width=\"457\" height=\"420\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/PS-PROFITS2-28062015.png\"><img class=\"aligncenter size-full wp-image-6195\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/PS-PROFITS2-28062015.png\" alt=\"PS PROFITS2 28062015\" width=\"460\" height=\"442\" /></a>\r\n\r\n&nbsp;\r\n<ol start=\"4\">\r\n	<li><strong> PREMIUM SERVICE SUBSCRIBER EXCLUSIVE CONTENT:</strong></li>\r\n</ol>\r\n(Section 4 is exclusive PREMIUM SERVICE content only available to PREMIUM SERVICE subscribers)\r\n\r\n4.1: EDUCATION:<u>\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 after the summer break in September 2015.\r\n\r\n&nbsp;\r\n\r\n4.2: THE PREMIUM SERVICE – TRADING REVIEW &amp; LOOKING FORWARD:\r\n\r\nOnly 4 trades in the past week, adding just one pip.\r\n\r\nI have spoken with many of you over the past month about trading lighter given the major news events dominating the news. The FOMC press conference has run by, but GREECE continues to dominate and I decided that my best TRADING PLAN was to wait.\r\n\r\nIt is choppy and we the markets are generally range bound, every now and then we see a bite of USD strength and then it’s usually followed by USD weakness. I took the position that until GREECE was “fixed” I would remain sidelined. I am happy that I have done this, even though a few trades have passed me by that I wanted to participate in.\r\n\r\nMoving forward, even allowing for the summer I am hoping over the next few days, assuming a GREECE fix, to start placing trades and limit orders in greater quantities once again.\r\n\r\nThe trading pairs I mentioned last week are still on my RADAR.\r\n\r\nSHORT: NZD/USD, EUR/GBP and NZD/CHF.\r\n\r\nLONG: AUD/NZD, GBP/CAD, GBP/AUD, GBP/NZD, EUR/AUD, EUR/CAD, EUR/NZD, USD/CHF, USD/CAD and EUR/CHF.\r\n\r\nLets hope that we can start placing some great set-ups very soon.\r\n\r\n&nbsp;\r\n\r\n4.3: THE PREMIUM SERVICE - EXISTING LIVE TRADES:\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/PS-LIVE-TRADES-28062015.png\"><img class=\"aligncenter size-full wp-image-6201\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/PS-LIVE-TRADES-28062015.png\" alt=\"PS LIVE TRADES 28062015\" width=\"720\" height=\"573\" /></a>\r\n\r\n&nbsp;\r\n\r\n4.4: THE PREMIUM SERVICE – EXISTING LIMIT ORDERS:\r\n\r\n(Remember 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<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/PS-LIMIT-ORDERS-28062015.png\"><img class=\"aligncenter size-full wp-image-6202\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/PS-LIMIT-ORDERS-28062015.png\" alt=\"PS LIMIT ORDERS 28062015\" width=\"702\" height=\"457\" /></a>\r\n\r\n4.5: ARMEGEDDON “GOLDEN” TRADES:\r\n\r\n(Emanating from conversations and requested by fellow subscribers these trade set-ups are based on severe market pullbacks, breakouts or breakdowns. These trades would apply after major geopolitical news has hit the news wires. These are also trade levels that provided great set ups in the past that would hopefully represent great entry opportunities again in the future).\r\n\r\nGOLDEN TRADE #003\r\n\r\nUSD/CHF:\r\n\r\nEnter long at 0.9060\r\n\r\nThe weekly chart below shows this level of 0.9060 as offering support on two occasions in the past 8 weeks.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/ARMEGEDDON-TRADE-003-26062015.png\"><img class=\"aligncenter size-large wp-image-6204\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/ARMEGEDDON-TRADE-003-26062015-1024x541.png\" alt=\"ARMEGEDDON TRADE #003 26062015\" width=\"1024\" height=\"541\" /></a>\r\n\r\nWith a GREEK settlement who knows what may happen, I was initially expecting a move higher with the EUR/USD, which would set this pair lower and maybe 0.9060 would come into play. Of late the single currency has been really weak and whether or not a significant bounce higher will happen is debatable. It may just be a small bounce from which sellers will sell into any strength that is shown. If this happens I doubt that my GOLDEN TRADE will come into play. However, never say never as between now and a GREECE outcome anything can happen.\r\n\r\n&nbsp;\r\n\r\n4.6: POTENTIAL TRADES - WHAT CHARTS AM I LOOKING AT?\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\nTHIS WEEKS OVERVIEW:\r\n\r\nI am not looking at any charts until I see a settlement of the GREECE situation. Any trades that will be entered will probably be FLASH TRADES based off news. I want to sell the EUR/USD into any strength. In addition I want to buy USD/CHF and maybe one or two other CHF pairs at the same time.\r\n\r\nI am expecting some volatility as the news breaks and my levels in charts will simply not be accurate or valid once the final news is out due to the expected high volatility.\r\n\r\nThe pairs that I will be looking at are: -\r\n\r\nEUR/USD, USD/CHF, EUR/GBP. EUR/CHF. GBP/CHF, NZD/USD, AUD/USD, USD/CAD and in addition I will look at some cross-rate currencies.\r\n\r\n&nbsp;\r\n\r\n4.7: MAJOR TRADING PAIRS WITH LONGER-TERM MATCHING TRENDS:\r\n\r\n(The following currency pairs have Short Term (DAILY), Medium Term (WEEKLY) and Long Term (MONTHLY) charts all trending in the same direction).\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/PS-TRENDING-PAIRS-28062015.png\"><img class=\"aligncenter size-full wp-image-6203\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/PS-TRENDING-PAIRS-28062015.png\" alt=\"PS TRENDING PAIRS 28062015\" width=\"399\" height=\"537\" /></a>\r\n\r\n4.8: THE KEY SUPPORT &amp; RESISTANCE LEVELS WITH THE USD MAJORS<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\nAll of my thoughts and my comments relating to each USD major are now contained on the charts.\r\n\r\n<strong>EUR/USD: Closing Price 1.1163</strong>\r\n\r\n<strong> <a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/EURUSD-W-28062015.png\"><img class=\"aligncenter size-large wp-image-6210\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/EURUSD-W-28062015-1024x541.png\" alt=\"EURUSD W 28062015\" width=\"1024\" height=\"541\" /></a></strong>\r\n\r\n<strong> </strong>\r\n\r\n<strong> </strong>\r\n\r\n<strong>GBP/USD: Closing Price 1.5744</strong>\r\n\r\n<strong> <a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/GBPUSD-W-28062015.png\"><img class=\"aligncenter size-large wp-image-6209\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/GBPUSD-W-28062015-1024x541.png\" alt=\"GBPUSD W 28062015\" width=\"1024\" height=\"541\" /></a></strong>\r\n\r\n<strong> </strong>\r\n\r\n<strong> </strong>\r\n\r\n<strong>AUD/USD: Closing Price 0.7655</strong>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/AUDUSD-W-28062015.png\"><img class=\"aligncenter size-large wp-image-6211\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/AUDUSD-W-28062015-1024x541.png\" alt=\"AUDUSD W 28062015\" width=\"1024\" height=\"541\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n<strong>NZD/USD: Closing Price 0.6837</strong>\r\n\r\n<strong> <a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/NZDUSD-W-28062015.png\"><img class=\"aligncenter size-large wp-image-6208\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/NZDUSD-W-28062015-1024x541.png\" alt=\"NZDUSD W 28062015\" width=\"1024\" height=\"541\" /></a></strong>\r\n\r\n<strong> </strong>\r\n\r\n<strong> </strong>\r\n\r\n<strong>USD/CAD: Closing Price 1.2315</strong>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/USDCAD-W-28062015.png\"><img class=\"aligncenter size-large wp-image-6207\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/USDCAD-W-28062015-1024x541.png\" alt=\"USDCAD W 28062015\" width=\"1024\" height=\"541\" /></a>\r\n\r\n&nbsp;\r\n\r\n<strong>USD/CHF: Closing Price 0.9327</strong>\r\n\r\n<strong> <a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/USDCHF-W-28062015.png\"><img class=\"aligncenter size-large wp-image-6206\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/USDCHF-W-28062015-1024x541.png\" alt=\"USDCHF W 28062015\" width=\"1024\" height=\"541\" /></a></strong>\r\n\r\n<strong> </strong>\r\n\r\n<strong> </strong>\r\n\r\n<strong>USD/JPY: Closing Price 123.87 </strong>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/USDJPY-W-28062015.png\"><img class=\"aligncenter size-large wp-image-6205\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/USDJPY-W-28062015-1024x541.png\" alt=\"USDJPY W 28062015\" width=\"1024\" height=\"541\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n<ol start=\"5\">\r\n	<li><strong> MY FINAL THOUGHTS:</strong></li>\r\n</ol>\r\n5.1: SUBSCRIBING TO THE “FREE VERSION” OF THE WEEKLY FX DRIVE THRU:\r\n\r\n5.2: TRADING TIPS &amp; THOUGHTS FOR THE WEEK AHEAD:\r\n\r\nRemaining light on trading may only last until Tuesday or Wednesday this week as I am hoping that the GREECE situation will be resolved one way or another. Once we know how its resolved, it sets us up knowing how to trade after the dust settles a little.\r\n\r\nThis week is a big week for big event news and there are many items of news surrounding my key currency pairs moving forward. I am hoping that I can engineer trades around these news releases to kick-start my trades at good entry levels. It is impossible to predict this but one can only hope.\r\n\r\nAs always, with high-risk news on the imminent horizon it is now in my mind, even more important to stick to core trading principles.\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 June 28th 2015\r\n\r\nEMAIL / FOLLOW ME AT:\r\npremiumservice@weeklyfxdrivethru.com\r\nhttp://www.twitter.com/pipaccumulator\r\nhttp://www.twitter.com/ThePremService\r\nhttp://www.google.com/+ScottPickering\r\nhttp://www.youtube.com/c/ScottPickering\r\nhttp://www.thepipaccumulator.tumblr.com\r\nhttp://www.stocktwits.com/thepipaccumulator\r\n\r\nVIEWS AND COMMENTS IN THIS BLOG:\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\nTHIRD PARTY COMPANIES WITH BANNERS ON MY WEBSITE:\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\nTRADING &amp; PERFORMANCES DISCLAIMER:\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.','WE ARE AT ANOTHER SET OF CROSSROADS…','','inherit','open','closed','','6212-revision-v1','','','2015-06-27 05:49:21','2015-06-27 10:49:21','',6212,'https://weeklyfxdrivethru.com/6212-revision-v1/',0,'revision','',0),(6215,1,'2015-06-27 05:51:33','2015-06-27 10:51:33','<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: 26.06.2015\r\nREFERENCE: #66\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\nLOOKING BACKWARDS, FORWARDS &amp; SIDEWAYS (FOR GOOD MEASURE) AT THE FX MARKET:\r\n\r\n1.1: LOOKING BACKWARDS:\r\n\r\nWell my piece on THE EMPIRE STRIKES BACK last week was the kiss of death to the GBP move higher. Thankfully, from my own perspective I had decided to remain light on trades until the GREECE situation with its creditors is settled and because of my plan not to trade - I did not look to set up trades.\r\n\r\nHaving said that, my article was the kiss of death, the move lower in the GBP/USD was about 150 pips. Given the longer term views of my article this is really just consolidation at higher levels. The cross-rate pairs have been mixed with their moves in the last 7 days but, the pip making opportunities written about in the article are still there, and after the definitive GREECE news is released then we as traders will know what we are dealing with and then, and only then, can we trade, hopefully with directional strength behind our trade set-ups.\r\n\r\nIn the past 7 days I traded about 15-20 times, very short term scalping trades with about an 80% success rate. With regards to the PREMIUM SERVICE only 4 trades were placed. Two trades were profitable and the other two lost money. The upshot was that the PREMIUM SERVICE added just 1 pip profit in the past 7 days.\r\n\r\nI spent a lot of time checking up on news and also scheduling items for our impending house move next month.\r\n\r\nIt now looks as if the deadline on GREECE, if there is such a thing, has been moved to tomorrow (Saturday 27<sup>th</sup> June) at a hastily arranged EUROGROUP meeting. Frankly, I do NOT believe all these deadlines.\r\n\r\nIf you recall GREECE has to pay the IMF its cumulative outstanding June repayments on the 30<sup>th</sup> June. However, Lagarde (IMF President) has already stated rather humorously that if GREECE defaults on the 30<sup>th </sup>of June it’s only a technical default. Yeah right my ar**, you go tell your mortgage provider that the fact that you did not make your mortgage payment last month was just technical!\r\n\r\n&nbsp;\r\n\r\n1.2: LOOKING FORWARDS:\r\n\r\nMAJOR FOREX NEWS THIS WEEK THAT INTERESTS ME:\r\n\r\n(There are many more news items related to the Forex Market than the ones listed below. These are the ones that interest me. You can go to <a href=\"http://www.forexfactory.com\">www.forexfactory.com</a> and <a href=\"http://www.tradingeconomics.com\">www.tradingeconomics.com</a> for more comprehensive lists of all news events that are Forex related).\r\nSUNDAY: N/A.\r\n\r\nMONDAY: NZD – ANZ Business Confidence.\r\n\r\nTUESDAY: AUD – “Words of Wisdom” from RBA Governor Glenn Stevens.\r\nTUESDAY: USD – CB Consumer Confidence.\r\nTUESDAY: CNY – Manufacturing PMi and HSBC PMi data.\r\n\r\nWEDNESDAY: GBP – Manufacturing PMI.\r\nWEDNESDAY: USD – ADP Non-Farm Employment Change.\r\nWEDNESDAY: USD – ISM Manufacturing PMi.\r\nWEDNESDAY: NZD – GDT Price Index.\r\nWEDNESDAY: AUD – Trade Balance.\r\n\r\nTHURSDAY: GBP – Construction PMi.\r\nTHURSDAY: USD – Non-Farm Employment Change.\r\nTHURSDAY: AUD – Retail Sales.\r\n\r\nFRIDAY: GBP – Services PMi.\r\n\r\n&nbsp;\r\n\r\nMY THOUGHTS ON THE NEWS ITEMS THIS COMING WEEK:\r\n\r\nFrom my trading interest perspective there are more highlights on the economic data front this week than there has been of late, last week in particular was a slow week.\r\n\r\nMy FUNDAMENTAL TRADING PLAN for the remainder of 2015, involves the commodity based currencies at the core, so all news involving the AUD, NZD and CAD in particular interest me greatly.\r\n\r\nThe NZD will be one of my core currencies in my proposed plan, so with Business Confidence numbers and the Dairy Price Index news this week in addition to Chinese PMi data these items will be of high interest for me.\r\n\r\nIn addition the Trade balance and Retail Sales numbers from Australia will be interesting to digest as well as the comments from Governor Stevens at the beginning of the week.\r\n\r\nThe big news this week however that will attract the most attention is the direct USD data. Both employment releases are scheduled (ADP and Non-Farm) but also Consumer Confidence numbers and ISM Manufacturing data, which will be scrutinized closely by the FED. Expect a lot of movement.\r\n\r\nPlus not on the calendar is GREECE…. I will say no more.\r\n\r\n&nbsp;\r\n\r\n1.3: LOOKING SIDEWAYS (FOR GOOD MEASURE):\r\n\r\nI spoke with just two subscribers over the past week regarding the current situation within the Forex markets and I had a webinar (extended) session with my peer group.\r\n\r\nThe consensus after much debate was that in the existing range bound chop fest it was not only the correct idea to stay away from the EUR, but it was probably good just to day trade and even then just sit over your machine like a hawk whilst a trade was live. Basically, my plan that I had had been following for the month of June (trading light) was seen as a great policy.\r\n\r\nI knew that I had missed trades and whilst I was pinching myself a little over this fact, however, when I heard of some of the swift reversal moves in currency pairs away from and including the majors, I was glad that I had chosen to remain on the sidelines in $$$.\r\n\r\nHindsight is a wonderful thing as we all know, but in Forex trading sometimes your best trades are the ones that simply do not take and once you have your plan in place you TRADE YOUR PLAN.\r\n\r\nThis month the PREMIUM SERVICE with the “TRADE LIGHT” approach has still added 605 pips of profit to the bottom line, and, I cannot and should not complain or defend my approach this month given this result so far.\r\n\r\n&nbsp;\r\n<ol start=\"2\">\r\n	<li><strong> WHAT’S ON MY MIND: -\r\nTHE FUNDAMENTAL TRADERS OVERVIEW:</strong></li>\r\n</ol>\r\n<h3 style=\"text-align: center;\"><strong>WE ARE AT ANOTHER SET OF CROSSROADS…</strong></h3>\r\nThank goodness Eric Clapton is not paid royalties every time the word “crossroads” is used in my blog. If I earned a dollar for every time I have used the word “crossroads” in my blog to describe a situation in the markets both E.C. and I would have a tidy sum put to one side right now.\r\n\r\nWe are though, in my opinion, at another set of crossroads.\r\n\r\nGREECE, the FED and the CENTRAL BANKS being the directions on offer. That is of course unless I do a EUROZONE approach by burying my head in sand and staying fixed and solid at the crossroads not wanting to move, or I do a Mark Carney turn and run back to where I started.\r\n\r\nSeveral weeks ago I outlined at a macro level in this blog my FUNDAMENTAL TRADING PLAN for the remainder of 2015. It was focused on three main areas: -\r\n\r\n<strong>Central Bank divergence</strong>\r\n<strong>Greece creditor situation being settled to give market direction.</strong>\r\n<strong>Drop in OIL prices as supply and demand economic rules finally kick in.</strong>\r\n\r\nPlus in addition I am cognizant of: -\r\n\r\n<strong>The China slowdown.</strong>\r\n<strong>World DEFLATIONARY issues and how this supports the CURRENCY WARS.</strong>\r\n<strong>A rather over inflated price of GOLD.Potential equity markets pullback.</strong>\r\n\r\n&nbsp;\r\n\r\nThe FOMC certainly placed a stop on matters with “dithering”, but I would not have set up trades until I was aware of how GREECE would be settled.\r\n\r\nAs you know, my feelings are that we will have a default and I am hoping that the politicians involved will have the balls to actually fix the issue and provide debt relief rather than a can kicking exercise. Time will tell and we have deadlines after deadlines that mean little, plus we have the most bizarre sound-bytes being touted and we have finger pointing.\r\n\r\nAs I have stated so many times before politicians are messers / muddlers / and definitely NOT problem solvers. GREECE is a problem, it requires fixing. Politicians are experts at pointing fingers at other politicians attributing blame. They are not good at addressing problems. They have egos based primarily on retaining the popular vote; they will do whatever they can to avoid making decisions.\r\n\r\nGREECE is a biggie, the biggest test of the EUROZONE so far. There is not a single politician involved who wants to go down in the history books as the one that broke the EUROZONE.\r\n\r\nLet me be clear; my direction from the junction is to follow the road with the CENTRAL BANK DIVERGENCE direction. I have learnt the hard way never to trade against the central bank monetary policy for longer term trades, you may get a day trade in the opposite direction but do not be greedy.\r\n\r\nWhilst I am moving in the direction towards CENTRAL BANK DIVERGENCE I would like GREECE fixed and the basic economics of supply and demand to hit the Oil markets.\r\n\r\nFailure of the divergences to take effect, I believe is a non-starter it is just a question of when. Janet Yellen is definitely guilty of dithering by waiting to increase U.S. interest rates. I had hoped to be fully into my trades prior to the summer break from trading, but this looks a little optimistic at the moment. However, USD strength will power through the markets and being long the USD is the trade in my opinion.\r\n\r\nThe GREECE situation will come to a conclusion. Whichever way the GREEK situation is “fixed”, does provoke, in my opinion, a contagion effect that will keep the EUR pressured and so a short EUR/USD is the trade. In fact I see a fully supportive / accommodative ECB for quite sometime to help the EUROZONE economies.\r\n\r\nThe OIL market, which has been damaged by hedge funds and pure big money speculators, has to run on supply and demand rules very soon otherwise there simply will not be space to store the excess production. This should show a downside move in Oil and then a weakening of the CAD, MXN and NOK currencies.\r\n\r\nMy FUNDAMENTAL overview, I believe is still in place for a positive trading result. My subscribers to the PREMIUM SERVICE will receive the trades as they are placed. There are thousands of pips available through the many trading options open. To wait and let a few hundred pips go by over the past few weeks does not worry me at all, in fact I look at this delay as superior RISK MANAGEMENT given the chop fest that has been the best way to describe the last three / four weeks of the FX markets.\r\n\r\nThe crossroads are here and the direction is a no brainer for me for the reasons above.\r\n\r\nThere are matters that could spring forward that could place a “SPANNER/ WRENCH” in the wheels such as a temporary 3–6 month extension of the current GREECE bailout program but this would also require debt forgiveness, however, I just don\'t see this. There could be a world geopolitical event, but we are always at risk of these 24x7. Basically, once the FED moves and GREECE is fixed my plan will be 100% in operation. I am hoping to have my plan starting this coming week.\r\n\r\nI will however place a few words of caution.\r\n\r\nUp until the FED raises rates and the GREECE defaulters are satisfied one way or another we are at the whim of the markets. We will remain range bound. What is the point of exposing yourself to the RISK of trading too early without the FUNDAMENTAL news backup to confirm your trades?\r\n\r\nPatience is required. Trades will be missed. Great entries will pass us by but we will be exercising great RISK and MONEY MANAGEMENT DISCIPLINES.\r\n\r\nRemember, there is a Forex market almost everyday, and, everyday there are trading opportunities.\r\n\r\nIf we have to stand and wait for a little while at the crossroads waiting - so be it. As long as we do not do a EUROZONE and bury our heads in the sand all will be good moving forward.\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n<ol start=\"3\">\r\n	<li><strong> THE PREMIUM SERVICE:</strong></li>\r\n</ol>\r\n<strong>SUMMARY OF PERFORMANCE:</strong>\r\n\r\n3.1: OVERVIEW - SUBSCRIPTION OPTIONS, FEATURES and PRICING:\r\n\r\n3.2: PERFORMANCE REVIEWS:\r\n<p style=\"text-align: center;\">PREMIUM SERVICE – COST INCOME ANALYSIS (USD):</p>\r\n<p style=\"text-align: center;\">EMANATING FROM TRADE SET-UPS - 2015 to date:</p>\r\n<p style=\"text-align: center;\">MICRO LOT TRADER - 411 trades cost to trade = $41.10\r\n<strong>PROFIT</strong> from 411 trades = <strong>$594.70</strong></p>\r\n<p style=\"text-align: center;\">MINI LOT TRADER - 411 trades cost to trade = $411.00\r\n<strong>PROFIT</strong> from 411 trades = <strong>$5,947.00</strong></p>\r\n<p style=\"text-align: center;\">STANDARD LOT TRADER - 411 trades cost to trade = $4,110.00\r\n<strong>PROFIT</strong> from 411 trades = <strong>$59,470.00</strong></p>\r\n3.3: PREMIUM SERVICE - TRADE SUMMARY DETAILS MONTH &amp; YTD:\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/PS-PROFITS1-28062015.png\"><img class=\"aligncenter size-full wp-image-6194\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/PS-PROFITS1-28062015.png\" alt=\"PS PROFITS1 28062015\" width=\"457\" height=\"420\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/PS-PROFITS2-28062015.png\"><img class=\"aligncenter size-full wp-image-6195\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/PS-PROFITS2-28062015.png\" alt=\"PS PROFITS2 28062015\" width=\"460\" height=\"442\" /></a>\r\n\r\n&nbsp;\r\n<ol start=\"4\">\r\n	<li><strong> PREMIUM SERVICE SUBSCRIBER EXCLUSIVE CONTENT:</strong></li>\r\n</ol>\r\n(Section 4 is exclusive PREMIUM SERVICE content only available to PREMIUM SERVICE subscribers)\r\n\r\n4.1: EDUCATION:<u>\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 after the summer break in September 2015.\r\n\r\n&nbsp;\r\n\r\n4.2: THE PREMIUM SERVICE – TRADING REVIEW &amp; LOOKING FORWARD:\r\n\r\nOnly 4 trades in the past week, adding just one pip.\r\n\r\nI have spoken with many of you over the past month about trading lighter given the major news events dominating the news. The FOMC press conference has run by, but GREECE continues to dominate and I decided that my best TRADING PLAN was to wait.\r\n\r\nIt is choppy and we the markets are generally range bound, every now and then we see a bite of USD strength and then it’s usually followed by USD weakness. I took the position that until GREECE was “fixed” I would remain sidelined. I am happy that I have done this, even though a few trades have passed me by that I wanted to participate in.\r\n\r\nMoving forward, even allowing for the summer I am hoping over the next few days, assuming a GREECE fix, to start placing trades and limit orders in greater quantities once again.\r\n\r\nThe trading pairs I mentioned last week are still on my RADAR.\r\n\r\nSHORT: NZD/USD, EUR/GBP and NZD/CHF.\r\n\r\nLONG: AUD/NZD, GBP/CAD, GBP/AUD, GBP/NZD, EUR/AUD, EUR/CAD, EUR/NZD, USD/CHF, USD/CAD and EUR/CHF.\r\n\r\nLets hope that we can start placing some great set-ups very soon.\r\n\r\n&nbsp;\r\n\r\n4.3: THE PREMIUM SERVICE - EXISTING LIVE TRADES:\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/PS-LIVE-TRADES-28062015.png\"><img class=\"aligncenter size-full wp-image-6201\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/PS-LIVE-TRADES-28062015.png\" alt=\"PS LIVE TRADES 28062015\" width=\"720\" height=\"573\" /></a>\r\n\r\n&nbsp;\r\n\r\n4.4: THE PREMIUM SERVICE – EXISTING LIMIT ORDERS:\r\n\r\n(Remember 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<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/PS-LIMIT-ORDERS-28062015.png\"><img class=\"aligncenter size-full wp-image-6202\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/PS-LIMIT-ORDERS-28062015.png\" alt=\"PS LIMIT ORDERS 28062015\" width=\"702\" height=\"457\" /></a>\r\n\r\n4.5: ARMEGEDDON “GOLDEN” TRADES:\r\n\r\n(Emanating from conversations and requested by fellow subscribers these trade set-ups are based on severe market pullbacks, breakouts or breakdowns. These trades would apply after major geopolitical news has hit the news wires. These are also trade levels that provided great set ups in the past that would hopefully represent great entry opportunities again in the future).\r\n\r\nGOLDEN TRADE #003\r\n\r\nUSD/CHF:\r\n\r\nEnter long at 0.9060\r\n\r\nThe weekly chart below shows this level of 0.9060 as offering support on two occasions in the past 8 weeks.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/ARMEGEDDON-TRADE-003-26062015.png\"><img class=\"aligncenter size-large wp-image-6204\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/ARMEGEDDON-TRADE-003-26062015-1024x541.png\" alt=\"ARMEGEDDON TRADE #003 26062015\" width=\"1024\" height=\"541\" /></a>\r\n\r\nWith a GREEK settlement who knows what may happen, I was initially expecting a move higher with the EUR/USD, which would set this pair lower and maybe 0.9060 would come into play. Of late the single currency has been really weak and whether or not a significant bounce higher will happen is debatable. It may just be a small bounce from which sellers will sell into any strength that is shown. If this happens I doubt that my GOLDEN TRADE will come into play. However, never say never as between now and a GREECE outcome anything can happen.\r\n\r\n&nbsp;\r\n\r\n4.6: POTENTIAL TRADES - WHAT CHARTS AM I LOOKING AT?\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\nTHIS WEEKS OVERVIEW:\r\n\r\nI am not looking at any charts until I see a settlement of the GREECE situation. Any trades that will be entered will probably be FLASH TRADES based off news. I want to sell the EUR/USD into any strength. In addition I want to buy USD/CHF and maybe one or two other CHF pairs at the same time.\r\n\r\nI am expecting some volatility as the news breaks and my levels in charts will simply not be accurate or valid once the final news is out due to the expected high volatility.\r\n\r\nThe pairs that I will be looking at are: -\r\n\r\nEUR/USD, USD/CHF, EUR/GBP. EUR/CHF. GBP/CHF, NZD/USD, AUD/USD, USD/CAD and in addition I will look at some cross-rate currencies.\r\n\r\n&nbsp;\r\n\r\n4.7: MAJOR TRADING PAIRS WITH LONGER-TERM MATCHING TRENDS:\r\n\r\n(The following currency pairs have Short Term (DAILY), Medium Term (WEEKLY) and Long Term (MONTHLY) charts all trending in the same direction).\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/PS-TRENDING-PAIRS-28062015.png\"><img class=\"aligncenter size-full wp-image-6203\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/PS-TRENDING-PAIRS-28062015.png\" alt=\"PS TRENDING PAIRS 28062015\" width=\"399\" height=\"537\" /></a>\r\n\r\n4.8: THE KEY SUPPORT &amp; RESISTANCE LEVELS WITH THE USD MAJORS<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\nAll of my thoughts and my comments relating to each USD major are now contained on the charts.\r\n\r\n<strong>EUR/USD: Closing Price 1.1163</strong>\r\n\r\n<strong> <a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/EURUSD-W-28062015.png\"><img class=\"aligncenter size-large wp-image-6210\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/EURUSD-W-28062015-1024x541.png\" alt=\"EURUSD W 28062015\" width=\"1024\" height=\"541\" /></a></strong>\r\n\r\n<strong> </strong>\r\n\r\n<strong> </strong>\r\n\r\n<strong>GBP/USD: Closing Price 1.5744</strong>\r\n\r\n<strong> <a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/GBPUSD-W-28062015.png\"><img class=\"aligncenter size-large wp-image-6209\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/GBPUSD-W-28062015-1024x541.png\" alt=\"GBPUSD W 28062015\" width=\"1024\" height=\"541\" /></a></strong>\r\n\r\n<strong> </strong>\r\n\r\n<strong> </strong>\r\n\r\n<strong>AUD/USD: Closing Price 0.7655</strong>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/AUDUSD-W-28062015.png\"><img class=\"aligncenter size-large wp-image-6211\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/AUDUSD-W-28062015-1024x541.png\" alt=\"AUDUSD W 28062015\" width=\"1024\" height=\"541\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n<strong>NZD/USD: Closing Price 0.6837</strong>\r\n\r\n<strong> <a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/NZDUSD-W-28062015.png\"><img class=\"aligncenter size-large wp-image-6208\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/NZDUSD-W-28062015-1024x541.png\" alt=\"NZDUSD W 28062015\" width=\"1024\" height=\"541\" /></a></strong>\r\n\r\n<strong> </strong>\r\n\r\n<strong> </strong>\r\n\r\n<strong>USD/CAD: Closing Price 1.2315</strong>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/USDCAD-W-28062015.png\"><img class=\"aligncenter size-large wp-image-6207\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/USDCAD-W-28062015-1024x541.png\" alt=\"USDCAD W 28062015\" width=\"1024\" height=\"541\" /></a>\r\n\r\n&nbsp;\r\n\r\n<strong>USD/CHF: Closing Price 0.9327</strong>\r\n\r\n<strong> <a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/USDCHF-W-28062015.png\"><img class=\"aligncenter size-large wp-image-6206\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/USDCHF-W-28062015-1024x541.png\" alt=\"USDCHF W 28062015\" width=\"1024\" height=\"541\" /></a></strong>\r\n\r\n<strong> </strong>\r\n\r\n<strong> </strong>\r\n\r\n<strong>USD/JPY: Closing Price 123.87 </strong>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/USDJPY-W-28062015.png\"><img class=\"aligncenter size-large wp-image-6205\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/USDJPY-W-28062015-1024x541.png\" alt=\"USDJPY W 28062015\" width=\"1024\" height=\"541\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n<ol start=\"5\">\r\n	<li><strong> MY FINAL THOUGHTS:</strong></li>\r\n</ol>\r\n5.1: SUBSCRIBING TO THE “FREE VERSION” OF THE WEEKLY FX DRIVE THRU:\r\n\r\n5.2: TRADING TIPS &amp; THOUGHTS FOR THE WEEK AHEAD:\r\n\r\nRemaining light on trading may only last until Tuesday or Wednesday this week as I am hoping that the GREECE situation will be resolved one way or another. Once we know how its resolved, it sets us up knowing how to trade after the dust settles a little.\r\n\r\nThis week is a big week for big event news and there are many items of news surrounding my key currency pairs moving forward. I am hoping that I can engineer trades around these news releases to kick-start my trades at good entry levels. It is impossible to predict this but one can only hope.\r\n\r\nAs always, with high-risk news on the imminent horizon it is now in my mind, even more important to stick to core trading principles.\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 June 28th 2015\r\n\r\nEMAIL / FOLLOW ME AT:\r\npremiumservice@weeklyfxdrivethru.com\r\nhttp://www.twitter.com/pipaccumulator\r\nhttp://www.twitter.com/ThePremService\r\nhttp://www.google.com/+ScottPickering\r\nhttp://www.youtube.com/c/ScottPickering\r\nhttp://www.thepipaccumulator.tumblr.com\r\nhttp://www.stocktwits.com/thepipaccumulator\r\n\r\nVIEWS AND COMMENTS IN THIS BLOG:\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\nTHIRD PARTY COMPANIES WITH BANNERS ON MY WEBSITE:\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\nTRADING &amp; PERFORMANCES DISCLAIMER:\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.','WE ARE AT ANOTHER SET OF CROSSROADS…','','inherit','open','closed','','6212-revision-v1','','','2015-06-27 05:51:33','2015-06-27 10:51:33','',6212,'https://weeklyfxdrivethru.com/6212-revision-v1/',0,'revision','',0),(6220,1,'2015-06-27 06:27:58','2015-06-27 11:27:58','<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<h4><strong>DATE: 28.06.2015\r\nREFERENCE: #159\r\n</strong><strong>BLOG: THE WEEKLY FX DRIVE THRU</strong></h4>\r\n&nbsp;\r\n<ol>\r\n	<li><strong> INTRODUCTION – THE VIEW FROM MY TRADE DESK:</strong></li>\r\n</ol>\r\nLOOKING BACKWARDS, FORWARDS &amp; SIDEWAYS (FOR GOOD MEASURE) AT THE FX MARKET:\r\n\r\n1.1: LOOKING BACKWARDS:\r\n\r\nWell my piece on THE EMPIRE STRIKES BACK last week was the kiss of death to the GBP move higher. Thankfully, from my own perspective I had decided to remain light on trades until the GREECE situation with its creditors is settled and because of my plan not to trade - I did not look to set up trades.\r\n\r\nHaving said that, my article was the kiss of death, the move lower in the GBP/USD was about 150 pips. Given the longer term views of my article this is really just consolidation at higher levels. The cross-rate pairs have been mixed with their moves in the last 7 days but, the pip making opportunities written about in the article are still there, and after the definitive GREECE news is released then we as traders will know what we are dealing with and then, and only then, can we trade, hopefully with directional strength behind our trade set-ups.\r\n\r\nIn the past 7 days I traded about 15-20 times, very short term scalping trades with about an 80% success rate. With regards to the PREMIUM SERVICE only 4 trades were placed. Two trades were profitable and the other two lost money. The upshot was that the PREMIUM SERVICE added just 1 pip profit in the past 7 days.\r\n\r\nI spent a lot of time checking up on news and also scheduling items for our impending house move next month.\r\n\r\nIt now looks as if the deadline on GREECE, if there is such a thing, has been moved to tomorrow (Saturday 27<sup>th</sup> June) at a hastily arranged EUROGROUP meeting. Frankly, I do NOT believe all these deadlines.\r\n\r\nIf you recall GREECE has to pay the IMF its cumulative outstanding June repayments on the 30<sup>th</sup> June. However, Lagarde (IMF President) has already stated rather humorously that if GREECE defaults on the 30<sup>th </sup>of June it’s only a technical default. Yeah right my ar**, you go tell your mortgage provider that the fact that you did not make your mortgage payment last month was just technical!\r\n\r\n&nbsp;\r\n\r\n1.2: LOOKING FORWARDS:\r\n\r\nMAJOR FOREX NEWS THIS WEEK THAT INTERESTS ME:\r\n\r\n(There are many more news items related to the Forex Market than the ones listed below. These are the ones that interest me. You can go to <a href=\"http://www.forexfactory.com\">www.forexfactory.com</a> and <a href=\"http://www.tradingeconomics.com\">www.tradingeconomics.com</a> for more comprehensive lists of all news events that are Forex related).\r\nSUNDAY: N/A.\r\n\r\nMONDAY: NZD – ANZ Business Confidence.\r\n\r\nTUESDAY: AUD – “Words of Wisdom” from RBA Governor Glenn Stevens.\r\nTUESDAY: USD – CB Consumer Confidence.\r\nTUESDAY: CNY – Manufacturing PMi and HSBC PMi data.\r\n\r\nWEDNESDAY: GBP – Manufacturing PMI.\r\nWEDNESDAY: USD – ADP Non-Farm Employment Change.\r\nWEDNESDAY: USD – ISM Manufacturing PMi.\r\nWEDNESDAY: NZD – GDT Price Index.\r\nWEDNESDAY: AUD – Trade Balance.\r\n\r\nTHURSDAY: GBP – Construction PMi.\r\nTHURSDAY: USD – Non-Farm Employment Change.\r\nTHURSDAY: AUD – Retail Sales.\r\n\r\nFRIDAY: GBP – Services PMi.\r\n\r\n&nbsp;\r\n\r\nMY THOUGHTS ON THE NEWS ITEMS THIS COMING WEEK:\r\n\r\nFrom my trading interest perspective there are more highlights on the economic data front this week than there has been of late, last week in particular was a slow week.\r\n\r\nMy FUNDAMENTAL TRADING PLAN for the remainder of 2015, involves the commodity based currencies at the core, so all news involving the AUD, NZD and CAD in particular interest me greatly.\r\n\r\nThe NZD will be one of my core currencies in my proposed plan, so with Business Confidence numbers and the Dairy Price Index news this week in addition to Chinese PMi data these items will be of high interest for me.\r\n\r\nIn addition the Trade balance and Retail Sales numbers from Australia will be interesting to digest as well as the comments from Governor Stevens at the beginning of the week.\r\n\r\nThe big news this week however that will attract the most attention is the direct USD data. Both employment releases are scheduled (ADP and Non-Farm) but also Consumer Confidence numbers and ISM Manufacturing data, which will be scrutinized closely by the FED. Expect a lot of movement.\r\n\r\nPlus not on the calendar is GREECE…. I will say no more.\r\n\r\n&nbsp;\r\n\r\n1.3: LOOKING SIDEWAYS (FOR GOOD MEASURE):\r\n\r\nI spoke with just two subscribers over the past week regarding the current situation within the Forex markets and I had a webinar (extended) session with my peer group.\r\n\r\nThe consensus after much debate was that in the existing range bound chop fest it was not only the correct idea to stay away from the EUR, but it was probably good just to day trade and even then just sit over your machine like a hawk whilst a trade was live. Basically, my plan that I had had been following for the month of June (trading light) was seen as a great policy.\r\n\r\nI knew that I had missed trades and whilst I was pinching myself a little over this fact, however, when I heard of some of the swift reversal moves in currency pairs away from and including the majors, I was glad that I had chosen to remain on the sidelines in $$$.\r\n\r\nHindsight is a wonderful thing as we all know, but in Forex trading sometimes your best trades are the ones that simply do not take and once you have your plan in place you TRADE YOUR PLAN.\r\n\r\nThis month the PREMIUM SERVICE with the “TRADE LIGHT” approach has still added 605 pips of profit to the bottom line, and, I cannot and should not complain or defend my approach this month given this result so far.\r\n\r\n<strong><u> </u></strong>\r\n<ol start=\"2\">\r\n	<li><strong> WHAT’S ON MY MIND: -\r\nTHE FUNDAMENTAL TRADERS OVERVIEW:</strong></li>\r\n</ol>\r\n<h3 style=\"text-align: center;\"><strong>WE ARE AT ANOTHER SET OF CROSSROADS…</strong></h3>\r\nThank goodness Eric Clapton is not paid royalties every time the word “crossroads” is used in my blog. If I earned a dollar for every time I have used the word “crossroads” in my blog to describe a situation in the markets both E.C. and I would have a tidy sum put to one side right now.\r\n\r\nWe are though, in my opinion, at another set of crossroads.\r\n\r\nGREECE, the FED and the CENTRAL BANKS being the directions on offer. That is of course unless I do a EUROZONE approach by burying my head in sand and staying fixed and solid at the crossroads not wanting to move, or I do a Mark Carney turn and run back to where I started.\r\nSeveral weeks ago I outlined at a macro level in this blog my FUNDAMENTAL TRADING PLAN for the remainder of 2015. It was focused on three main areas: -\r\n<p style=\"padding-left: 30px;\"><strong>Central Bank divergence.</strong>\r\n<strong>Greece creditor situation being settled to give market direction.</strong>\r\n<strong>Drop in OIL prices as supply and demand economic rules finally kick in.</strong></p>\r\n<p style=\"padding-left: 30px;\">Plus in addition I am cognizant of: -</p>\r\n<p style=\"padding-left: 30px;\"><strong>The China slowdown.</strong>\r\n<strong>World DEFLATIONARY issues and how this supports the CURRENCY WARS.</strong>\r\n<strong>A rather over inflated price of GOLD.</strong>\r\n<strong>Potential equity markets pullback.</strong></p>\r\n&nbsp;\r\n\r\nThe FOMC certainly placed a stop on matters with “dithering”, but I would not have set up trades until I was aware of how GREECE would be settled.\r\n\r\nAs you know, my feelings are that we will have a default and I am hoping that the politicians involved will have the balls to actually fix the issue and provide debt relief rather than a can kicking exercise. Time will tell and we have deadlines after deadlines that mean little, plus we have the most bizarre sound-bytes being touted and we have finger pointing.\r\n\r\nAs I have stated so many times before politicians are messers / muddlers / and definitely NOT problem solvers. GREECE is a problem, it requires fixing. Politicians are experts at pointing fingers at other politicians attributing blame. They are not good at addressing problems. They have egos based primarily on retaining the popular vote; they will do whatever they can to avoid making decisions.\r\n\r\nGREECE is a biggie, the biggest test of the EUROZONE so far. There is not a single politician involved who wants to go down in the history books as the one that broke the EUROZONE.\r\n\r\nLet me be clear; my direction from the junction is to follow the road with the CENTRAL BANK DIVERGENCE direction. I have learnt the hard way never to trade against the central bank monetary policy for longer term trades, you may get a day trade in the opposite direction but do not be greedy.\r\n\r\nWhilst I am moving in the direction towards CENTRAL BANK DIVERGENCE I would like GREECE fixed and the basic economics of supply and demand to hit the Oil markets.\r\n\r\nFailure of the divergences to take effect, I believe is a non-starter it is just a question of when. Janet Yellen is definitely guilty of dithering by waiting to increase U.S. interest rates. I had hoped to be fully into my trades prior to the summer break from trading, but this looks a little optimistic at the moment. However, USD strength will power through the markets and being long the USD is the trade in my opinion.\r\n\r\nThe GREECE situation will come to a conclusion. Whichever way the GREEK situation is “fixed”, does provoke, in my opinion, a contagion effect that will keep the EUR pressured and so a short EUR/USD is the trade. In fact I see a fully supportive / accommodative ECB for quite sometime to help the EUROZONE economies.\r\n\r\nThe OIL market, which has been damaged by hedge funds and pure big money speculators, has to run on supply and demand rules very soon otherwise there simply will not be space to store the excess production. This should show a downside move in Oil and then a weakening of the CAD, MXN and NOK currencies.\r\n\r\nMy FUNDAMENTAL overview, I believe is still in place for a positive trading result. My subscribers to the PREMIUM SERVICE will receive the trades as they are placed. There are thousands of pips available through the many trading options open. To wait and let a few hundred pips go by over the past few weeks does not worry me at all, in fact I look at this delay as superior RISK MANAGEMENT given the chop fest that has been the best way to describe the last three / four weeks of the FX markets.\r\n\r\nThe crossroads are here and the direction is a no brainer for me for the reasons above.\r\n\r\nThere are matters that could spring forward that could place a “SPANNER/ WRENCH” in the wheels such as a temporary 3–6 month extension of the current GREECE bailout program but this would also require debt forgiveness, however, I just don\'t see this. There could be a world geopolitical event, but we are always at risk of these 24x7. Basically, once the FED moves and GREECE is fixed my plan will be 100% in operation. I am hoping to have my plan starting this coming week.\r\n\r\nI will however place a few words of caution.\r\n\r\nUp until the FED raises rates and the GREECE defaulters are satisfied one way or another we are at the whim of the markets. We will remain range bound. What is the point of exposing yourself to the RISK of trading too early without the FUNDAMENTAL news backup to confirm your trades?\r\n\r\nPatience is required. Trades will be missed. Great entries will pass us by but we will be exercising great RISK and MONEY MANAGEMENT DISCIPLINES.\r\n\r\nRemember, there is a Forex market almost everyday, and, everyday there are trading opportunities.\r\n\r\nIf we have to stand and wait for a little while at the crossroads waiting - so be it. As long as we do not do a EUROZONE and bury our heads in the sand all will be good moving forward.\r\n\r\n&nbsp;\r\n<ol start=\"3\">\r\n	<li><strong> THE PREMIUM SERVICE:\r\n</strong></li>\r\n</ol>\r\n<strong>SUMMARY OF PERFORMANCE:</strong>\r\n\r\n3.1: OVERVIEW - SUBSCRIPTION OPTIONS, FEATURES and PRICING:\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\nFurther details and how to join are all contained there. The various pricing options for GOLD and SILVER subscriptions are listed. You will need a PayPal account to subscribe.\r\n\r\n<u>PLEASE NOTE:</u>\r\n\r\nDuring the summer from July 25<sup>th</sup> through to September 5<sup>th</sup> 2015, there will not be any WEEKLY FX DRIVE THRU blogs and PREMIUM SERVICE trading will be minimal due to slow markets. Subscribers will still be advised of trades, if any, but typically there are very few. Subscription periods DO NOT count the weeks when there is no blog.\r\n\r\n&nbsp;\r\n\r\n3.2: PERFORMANCE REVIEWS:\r\n<p style=\"text-align: center;\">PREMIUM SERVICE – COST INCOME ANALYSIS (USD):\r\n<strong>EMANATING FROM TRADE SET-UPS - 2015 to date:</strong></p>\r\n<p style=\"text-align: center;\">MICRO LOT TRADER - 411 trades cost to trade = $41.10\r\n<strong>PROFIT</strong> from 411 trades = <strong>$594.70</strong></p>\r\n<p style=\"text-align: center;\">MINI LOT TRADER - 411 trades cost to trade = $411.00\r\n<strong>PROFIT</strong> from 411 trades = <strong>$5,947.00</strong></p>\r\n<p style=\"text-align: center;\">STANDARD LOT TRADER - 411 trades cost to trade = $4,110.00\r\n<strong>PROFIT</strong> from 411 trades = <strong>$59,470.00</strong></p>\r\n&nbsp;\r\n\r\n3.3: PREMIUM SERVICE - TRADE SUMMARY DETAILS MONTH &amp; YTD:\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/PS-PROFITS1-28062015.png\"><img class=\"aligncenter size-full wp-image-6194\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/PS-PROFITS1-28062015.png\" alt=\"PS PROFITS1 28062015\" width=\"457\" height=\"420\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/PS-PROFITS2-28062015.png\"><img class=\"aligncenter size-full wp-image-6195\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/PS-PROFITS2-28062015.png\" alt=\"PS PROFITS2 28062015\" width=\"460\" height=\"442\" /></a>\r\n<ol start=\"4\">\r\n	<li><strong> PREMIUM SERVICE SUBSCRIBER EXCLUSIVE CONTENT:</strong></li>\r\n</ol>\r\n(Section 4 is exclusive PREMIUM SERVICE content only available to PREMIUM SERVICE subscribers)\r\n\r\n&nbsp;\r\n<ol start=\"5\">\r\n	<li><strong> MY FINAL THOUGHTS:</strong></li>\r\n</ol>\r\n5.1: SUBSCRIBING TO THE “FREE VERSION” OF THE WEEKLY FX DRIVE THRU:\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\n5.2: TRADING TIPS &amp; THOUGHTS FOR THE WEEK AHEAD:\r\n\r\nRemaining light on trading may only last until Tuesday or Wednesday this week as I am hoping that the GREECE situation will be resolved one way or another. Once we know how its resolved, it sets us up knowing how to trade after the dust settles a little.\r\n\r\nThis week is a big week for big event news and there are many items of news surrounding my key currency pairs moving forward. I am hoping that I can engineer trades around these news releases to kick-start my trades at good entry levels. It is impossible to predict this but one can only hope.\r\n\r\nAs always, with high-risk news on the imminent horizon it is now in my mind, even more important to stick to core trading principles.\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\nTake care.\r\n\r\nScott Pickering\r\nThe Pip Accumulator\r\nSunday June 28th 2015\r\n\r\nEMAIL / FOLLOW ME AT:\r\ndrivethru@weeklyfxdrivethru.com\r\nhttp://www.twitter.com/pipaccumulator\r\nhttp://www.google.com/+ScottPickering\r\nhttp://www.youtube.com/c/ScottPickering\r\nhttp://www.thepipaccumulator.tumblr.com\r\nhttp://www.stocktwits.com/thepipaccumulator\r\n\r\nVIEWS AND COMMENTS IN THIS BLOG:\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\nTHIRD PARTY COMPANIES WITH BANNERS ON MY WEBSITE:\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\nTRADING &amp; PERFORMANCES DISCLAIMER:\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.','WE ARE AT ANOTHER SET OF CROSSROADS…','','publish','open','closed','','we-are-at-another-set-of-crossroads','','','2015-06-27 06:27:58','2015-06-27 11:27:58','',0,'https://weeklyfxdrivethru.com/?p=6220',0,'post','',0),(6221,1,'2015-06-27 06:26:45','2015-06-27 11:26:45','<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<h4><strong>DATE: 28.06.2015\r\nREFERENCE: #159\r\n</strong><strong>BLOG: THE WEEKLY FX DRIVE THRU</strong></h4>\r\n&nbsp;\r\n<ol>\r\n	<li><strong> INTRODUCTION – THE VIEW FROM MY TRADE DESK:</strong></li>\r\n</ol>\r\nLOOKING BACKWARDS, FORWARDS &amp; SIDEWAYS (FOR GOOD MEASURE) AT THE FX MARKET:\r\n\r\n1.1: LOOKING BACKWARDS:\r\n\r\nWell my piece on THE EMPIRE STRIKES BACK last week was the kiss of death to the GBP move higher. Thankfully, from my own perspective I had decided to remain light on trades until the GREECE situation with its creditors is settled and because of my plan not to trade - I did not look to set up trades.\r\n\r\nHaving said that, my article was the kiss of death, the move lower in the GBP/USD was about 150 pips. Given the longer term views of my article this is really just consolidation at higher levels. The cross-rate pairs have been mixed with their moves in the last 7 days but, the pip making opportunities written about in the article are still there, and after the definitive GREECE news is released then we as traders will know what we are dealing with and then, and only then, can we trade, hopefully with directional strength behind our trade set-ups.\r\n\r\nIn the past 7 days I traded about 15-20 times, very short term scalping trades with about an 80% success rate. With regards to the PREMIUM SERVICE only 4 trades were placed. Two trades were profitable and the other two lost money. The upshot was that the PREMIUM SERVICE added just 1 pip profit in the past 7 days.\r\n\r\nI spent a lot of time checking up on news and also scheduling items for our impending house move next month.\r\n\r\nIt now looks as if the deadline on GREECE, if there is such a thing, has been moved to tomorrow (Saturday 27<sup>th</sup> June) at a hastily arranged EUROGROUP meeting. Frankly, I do NOT believe all these deadlines.\r\n\r\nIf you recall GREECE has to pay the IMF its cumulative outstanding June repayments on the 30<sup>th</sup> June. However, Lagarde (IMF President) has already stated rather humorously that if GREECE defaults on the 30<sup>th </sup>of June it’s only a technical default. Yeah right my ar**, you go tell your mortgage provider that the fact that you did not make your mortgage payment last month was just technical!\r\n\r\n&nbsp;\r\n\r\n1.2: LOOKING FORWARDS:\r\n\r\nMAJOR FOREX NEWS THIS WEEK THAT INTERESTS ME:\r\n\r\n(There are many more news items related to the Forex Market than the ones listed below. These are the ones that interest me. You can go to <a href=\"http://www.forexfactory.com\">www.forexfactory.com</a> and <a href=\"http://www.tradingeconomics.com\">www.tradingeconomics.com</a> for more comprehensive lists of all news events that are Forex related).\r\nSUNDAY: N/A.\r\n\r\nMONDAY: NZD – ANZ Business Confidence.\r\n\r\nTUESDAY: AUD – “Words of Wisdom” from RBA Governor Glenn Stevens.\r\nTUESDAY: USD – CB Consumer Confidence.\r\nTUESDAY: CNY – Manufacturing PMi and HSBC PMi data.\r\n\r\nWEDNESDAY: GBP – Manufacturing PMI.\r\nWEDNESDAY: USD – ADP Non-Farm Employment Change.\r\nWEDNESDAY: USD – ISM Manufacturing PMi.\r\nWEDNESDAY: NZD – GDT Price Index.\r\nWEDNESDAY: AUD – Trade Balance.\r\n\r\nTHURSDAY: GBP – Construction PMi.\r\nTHURSDAY: USD – Non-Farm Employment Change.\r\nTHURSDAY: AUD – Retail Sales.\r\n\r\nFRIDAY: GBP – Services PMi.\r\n\r\n&nbsp;\r\n\r\nMY THOUGHTS ON THE NEWS ITEMS THIS COMING WEEK:\r\n\r\nFrom my trading interest perspective there are more highlights on the economic data front this week than there has been of late, last week in particular was a slow week.\r\n\r\nMy FUNDAMENTAL TRADING PLAN for the remainder of 2015, involves the commodity based currencies at the core, so all news involving the AUD, NZD and CAD in particular interest me greatly.\r\n\r\nThe NZD will be one of my core currencies in my proposed plan, so with Business Confidence numbers and the Dairy Price Index news this week in addition to Chinese PMi data these items will be of high interest for me.\r\n\r\nIn addition the Trade balance and Retail Sales numbers from Australia will be interesting to digest as well as the comments from Governor Stevens at the beginning of the week.\r\n\r\nThe big news this week however that will attract the most attention is the direct USD data. Both employment releases are scheduled (ADP and Non-Farm) but also Consumer Confidence numbers and ISM Manufacturing data, which will be scrutinized closely by the FED. Expect a lot of movement.\r\n\r\nPlus not on the calendar is GREECE…. I will say no more.\r\n\r\n&nbsp;\r\n\r\n1.3: LOOKING SIDEWAYS (FOR GOOD MEASURE):\r\n\r\nI spoke with just two subscribers over the past week regarding the current situation within the Forex markets and I had a webinar (extended) session with my peer group.\r\n\r\nThe consensus after much debate was that in the existing range bound chop fest it was not only the correct idea to stay away from the EUR, but it was probably good just to day trade and even then just sit over your machine like a hawk whilst a trade was live. Basically, my plan that I had had been following for the month of June (trading light) was seen as a great policy.\r\n\r\nI knew that I had missed trades and whilst I was pinching myself a little over this fact, however, when I heard of some of the swift reversal moves in currency pairs away from and including the majors, I was glad that I had chosen to remain on the sidelines in $$$.\r\n\r\nHindsight is a wonderful thing as we all know, but in Forex trading sometimes your best trades are the ones that simply do not take and once you have your plan in place you TRADE YOUR PLAN.\r\n\r\nThis month the PREMIUM SERVICE with the “TRADE LIGHT” approach has still added 605 pips of profit to the bottom line, and, I cannot and should not complain or defend my approach this month given this result so far.\r\n\r\n<strong><u> </u></strong>\r\n<ol start=\"2\">\r\n	<li><strong> WHAT’S ON MY MIND: -\r\nTHE FUNDAMENTAL TRADERS OVERVIEW:</strong></li>\r\n</ol>\r\n<h3 style=\"text-align: center;\"><strong>WE ARE AT ANOTHER SET OF CROSSROADS…</strong></h3>\r\nThank goodness Eric Clapton is not paid royalties every time the word “crossroads” is used in my blog. If I earned a dollar for every time I have used the word “crossroads” in my blog to describe a situation in the markets both E.C. and I would have a tidy sum put to one side right now.\r\n\r\nWe are though, in my opinion, at another set of crossroads.\r\n\r\nGREECE, the FED and the CENTRAL BANKS being the directions on offer. That is of course unless I do a EUROZONE approach by burying my head in sand and staying fixed and solid at the crossroads not wanting to move, or I do a Mark Carney turn and run back to where I started.\r\nSeveral weeks ago I outlined at a macro level in this blog my FUNDAMENTAL TRADING PLAN for the remainder of 2015. It was focused on three main areas: -\r\n<p style=\"padding-left: 30px;\">\r\n<strong>Central Bank divergence.</strong>\r\n<strong>Greece creditor situation being settled to give market direction.</strong>\r\n<strong>Drop in OIL prices as supply and demand economic rules finally kick in.</strong></p>\r\n<p style=\"padding-left: 30px;\">Plus in addition I am cognizant of: -</p>\r\n<p style=\"padding-left: 30px;\"><strong>The China slowdown.</strong>\r\n<strong>World DEFLATIONARY issues and how this supports the CURRENCY WARS.</strong>\r\n<strong>A rather over inflated price of GOLD.</strong>\r\n<strong>Potential equity markets pullback.</strong></p>\r\n&nbsp;\r\n\r\nThe FOMC certainly placed a stop on matters with “dithering”, but I would not have set up trades until I was aware of how GREECE would be settled.\r\n\r\nAs you know, my feelings are that we will have a default and I am hoping that the politicians involved will have the balls to actually fix the issue and provide debt relief rather than a can kicking exercise. Time will tell and we have deadlines after deadlines that mean little, plus we have the most bizarre sound-bytes being touted and we have finger pointing.\r\n\r\nAs I have stated so many times before politicians are messers / muddlers / and definitely NOT problem solvers. GREECE is a problem, it requires fixing. Politicians are experts at pointing fingers at other politicians attributing blame. They are not good at addressing problems. They have egos based primarily on retaining the popular vote; they will do whatever they can to avoid making decisions.\r\n\r\nGREECE is a biggie, the biggest test of the EUROZONE so far. There is not a single politician involved who wants to go down in the history books as the one that broke the EUROZONE.\r\n\r\nLet me be clear; my direction from the junction is to follow the road with the CENTRAL BANK DIVERGENCE direction. I have learnt the hard way never to trade against the central bank monetary policy for longer term trades, you may get a day trade in the opposite direction but do not be greedy.\r\n\r\nWhilst I am moving in the direction towards CENTRAL BANK DIVERGENCE I would like GREECE fixed and the basic economics of supply and demand to hit the Oil markets.\r\n\r\nFailure of the divergences to take effect, I believe is a non-starter it is just a question of when. Janet Yellen is definitely guilty of dithering by waiting to increase U.S. interest rates. I had hoped to be fully into my trades prior to the summer break from trading, but this looks a little optimistic at the moment. However, USD strength will power through the markets and being long the USD is the trade in my opinion.\r\n\r\nThe GREECE situation will come to a conclusion. Whichever way the GREEK situation is “fixed”, does provoke, in my opinion, a contagion effect that will keep the EUR pressured and so a short EUR/USD is the trade. In fact I see a fully supportive / accommodative ECB for quite sometime to help the EUROZONE economies.\r\n\r\nThe OIL market, which has been damaged by hedge funds and pure big money speculators, has to run on supply and demand rules very soon otherwise there simply will not be space to store the excess production. This should show a downside move in Oil and then a weakening of the CAD, MXN and NOK currencies.\r\n\r\nMy FUNDAMENTAL overview, I believe is still in place for a positive trading result. My subscribers to the PREMIUM SERVICE will receive the trades as they are placed. There are thousands of pips available through the many trading options open. To wait and let a few hundred pips go by over the past few weeks does not worry me at all, in fact I look at this delay as superior RISK MANAGEMENT given the chop fest that has been the best way to describe the last three / four weeks of the FX markets.\r\n\r\nThe crossroads are here and the direction is a no brainer for me for the reasons above.\r\n\r\nThere are matters that could spring forward that could place a “SPANNER/ WRENCH” in the wheels such as a temporary 3–6 month extension of the current GREECE bailout program but this would also require debt forgiveness, however, I just don\'t see this. There could be a world geopolitical event, but we are always at risk of these 24x7. Basically, once the FED moves and GREECE is fixed my plan will be 100% in operation. I am hoping to have my plan starting this coming week.\r\n\r\nI will however place a few words of caution.\r\n\r\nUp until the FED raises rates and the GREECE defaulters are satisfied one way or another we are at the whim of the markets. We will remain range bound. What is the point of exposing yourself to the RISK of trading too early without the FUNDAMENTAL news backup to confirm your trades?\r\n\r\nPatience is required. Trades will be missed. Great entries will pass us by but we will be exercising great RISK and MONEY MANAGEMENT DISCIPLINES.\r\n\r\nRemember, there is a Forex market almost everyday, and, everyday there are trading opportunities.\r\n\r\nIf we have to stand and wait for a little while at the crossroads waiting - so be it. As long as we do not do a EUROZONE and bury our heads in the sand all will be good moving forward.\r\n\r\n&nbsp;\r\n<ol start=\"3\">\r\n	<li><strong> THE PREMIUM SERVICE:\r\n</strong></li>\r\n</ol>\r\n<strong>SUMMARY OF PERFORMANCE:</strong>\r\n\r\n3.1: OVERVIEW - SUBSCRIPTION OPTIONS, FEATURES and PRICING:\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\nFurther details and how to join are all contained there. The various pricing options for GOLD and SILVER subscriptions are listed. You will need a PayPal account to subscribe.\r\n\r\n<u>PLEASE NOTE:</u>\r\n\r\nDuring the summer from July 25<sup>th</sup> through to September 5<sup>th</sup> 2015, there will not be any WEEKLY FX DRIVE THRU blogs and PREMIUM SERVICE trading will be minimal due to slow markets. Subscribers will still be advised of trades, if any, but typically there are very few. Subscription periods DO NOT count the weeks when there is no blog.\r\n\r\n&nbsp;\r\n\r\n3.2: PERFORMANCE REVIEWS:\r\n<p style=\"text-align: center;\">PREMIUM SERVICE – COST INCOME ANALYSIS (USD):\r\n<strong>EMANATING FROM TRADE SET-UPS - 2015 to date:</strong></p>\r\n<p style=\"text-align: center;\">MICRO LOT TRADER - 411 trades cost to trade = $41.10\r\n<strong>PROFIT</strong> from 411 trades = <strong>$594.70</strong></p>\r\n<p style=\"text-align: center;\">MINI LOT TRADER - 411 trades cost to trade = $411.00\r\n<strong>PROFIT</strong> from 411 trades = <strong>$5,947.00</strong></p>\r\n<p style=\"text-align: center;\">STANDARD LOT TRADER - 411 trades cost to trade = $4,110.00\r\n<strong>PROFIT</strong> from 411 trades = <strong>$59,470.00</strong></p>\r\n&nbsp;\r\n\r\n3.3: PREMIUM SERVICE - TRADE SUMMARY DETAILS MONTH &amp; YTD:\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/PS-PROFITS1-28062015.png\"><img class=\"aligncenter size-full wp-image-6194\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/PS-PROFITS1-28062015.png\" alt=\"PS PROFITS1 28062015\" width=\"457\" height=\"420\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/PS-PROFITS2-28062015.png\"><img class=\"aligncenter size-full wp-image-6195\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/PS-PROFITS2-28062015.png\" alt=\"PS PROFITS2 28062015\" width=\"460\" height=\"442\" /></a>\r\n<ol start=\"4\">\r\n	<li><strong> PREMIUM SERVICE SUBSCRIBER EXCLUSIVE CONTENT:</strong></li>\r\n</ol>\r\n(Section 4 is exclusive PREMIUM SERVICE content only available to PREMIUM SERVICE subscribers)\r\n\r\n&nbsp;\r\n<ol start=\"5\">\r\n	<li><strong> MY FINAL THOUGHTS:</strong></li>\r\n</ol>\r\n5.1: SUBSCRIBING TO THE “FREE VERSION” OF THE WEEKLY FX DRIVE THRU:\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\n5.2: TRADING TIPS &amp; THOUGHTS FOR THE WEEK AHEAD:\r\n\r\nRemaining light on trading may only last until Tuesday or Wednesday this week as I am hoping that the GREECE situation will be resolved one way or another. Once we know how its resolved, it sets us up knowing how to trade after the dust settles a little.\r\n\r\nThis week is a big week for big event news and there are many items of news surrounding my key currency pairs moving forward. I am hoping that I can engineer trades around these news releases to kick-start my trades at good entry levels. It is impossible to predict this but one can only hope.\r\n\r\nAs always, with high-risk news on the imminent horizon it is now in my mind, even more important to stick to core trading principles.\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\nTake care.\r\n\r\nScott Pickering\r\nThe Pip Accumulator\r\nSunday June 28th 2015\r\n\r\nEMAIL / FOLLOW ME AT:\r\ndrivethru@weeklyfxdrivethru.com\r\nhttp://www.twitter.com/pipaccumulator\r\nhttp://www.google.com/+ScottPickering\r\nhttp://www.youtube.com/c/ScottPickering\r\nhttp://www.thepipaccumulator.tumblr.com\r\nhttp://www.stocktwits.com/thepipaccumulator\r\n\r\nVIEWS AND COMMENTS IN THIS BLOG:\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\nTHIRD PARTY COMPANIES WITH BANNERS ON MY WEBSITE:\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\nTRADING &amp; PERFORMANCES DISCLAIMER:\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.','WE ARE AT ANOTHER SET OF CROSSROADS…','','inherit','open','closed','','6220-revision-v1','','','2015-06-27 06:26:45','2015-06-27 11:26:45','',6220,'https://weeklyfxdrivethru.com/6220-revision-v1/',0,'revision','',0),(6222,1,'2015-06-27 06:27:58','2015-06-27 11:27:58','<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<h4><strong>DATE: 28.06.2015\r\nREFERENCE: #159\r\n</strong><strong>BLOG: THE WEEKLY FX DRIVE THRU</strong></h4>\r\n&nbsp;\r\n<ol>\r\n	<li><strong> INTRODUCTION – THE VIEW FROM MY TRADE DESK:</strong></li>\r\n</ol>\r\nLOOKING BACKWARDS, FORWARDS &amp; SIDEWAYS (FOR GOOD MEASURE) AT THE FX MARKET:\r\n\r\n1.1: LOOKING BACKWARDS:\r\n\r\nWell my piece on THE EMPIRE STRIKES BACK last week was the kiss of death to the GBP move higher. Thankfully, from my own perspective I had decided to remain light on trades until the GREECE situation with its creditors is settled and because of my plan not to trade - I did not look to set up trades.\r\n\r\nHaving said that, my article was the kiss of death, the move lower in the GBP/USD was about 150 pips. Given the longer term views of my article this is really just consolidation at higher levels. The cross-rate pairs have been mixed with their moves in the last 7 days but, the pip making opportunities written about in the article are still there, and after the definitive GREECE news is released then we as traders will know what we are dealing with and then, and only then, can we trade, hopefully with directional strength behind our trade set-ups.\r\n\r\nIn the past 7 days I traded about 15-20 times, very short term scalping trades with about an 80% success rate. With regards to the PREMIUM SERVICE only 4 trades were placed. Two trades were profitable and the other two lost money. The upshot was that the PREMIUM SERVICE added just 1 pip profit in the past 7 days.\r\n\r\nI spent a lot of time checking up on news and also scheduling items for our impending house move next month.\r\n\r\nIt now looks as if the deadline on GREECE, if there is such a thing, has been moved to tomorrow (Saturday 27<sup>th</sup> June) at a hastily arranged EUROGROUP meeting. Frankly, I do NOT believe all these deadlines.\r\n\r\nIf you recall GREECE has to pay the IMF its cumulative outstanding June repayments on the 30<sup>th</sup> June. However, Lagarde (IMF President) has already stated rather humorously that if GREECE defaults on the 30<sup>th </sup>of June it’s only a technical default. Yeah right my ar**, you go tell your mortgage provider that the fact that you did not make your mortgage payment last month was just technical!\r\n\r\n&nbsp;\r\n\r\n1.2: LOOKING FORWARDS:\r\n\r\nMAJOR FOREX NEWS THIS WEEK THAT INTERESTS ME:\r\n\r\n(There are many more news items related to the Forex Market than the ones listed below. These are the ones that interest me. You can go to <a href=\"http://www.forexfactory.com\">www.forexfactory.com</a> and <a href=\"http://www.tradingeconomics.com\">www.tradingeconomics.com</a> for more comprehensive lists of all news events that are Forex related).\r\nSUNDAY: N/A.\r\n\r\nMONDAY: NZD – ANZ Business Confidence.\r\n\r\nTUESDAY: AUD – “Words of Wisdom” from RBA Governor Glenn Stevens.\r\nTUESDAY: USD – CB Consumer Confidence.\r\nTUESDAY: CNY – Manufacturing PMi and HSBC PMi data.\r\n\r\nWEDNESDAY: GBP – Manufacturing PMI.\r\nWEDNESDAY: USD – ADP Non-Farm Employment Change.\r\nWEDNESDAY: USD – ISM Manufacturing PMi.\r\nWEDNESDAY: NZD – GDT Price Index.\r\nWEDNESDAY: AUD – Trade Balance.\r\n\r\nTHURSDAY: GBP – Construction PMi.\r\nTHURSDAY: USD – Non-Farm Employment Change.\r\nTHURSDAY: AUD – Retail Sales.\r\n\r\nFRIDAY: GBP – Services PMi.\r\n\r\n&nbsp;\r\n\r\nMY THOUGHTS ON THE NEWS ITEMS THIS COMING WEEK:\r\n\r\nFrom my trading interest perspective there are more highlights on the economic data front this week than there has been of late, last week in particular was a slow week.\r\n\r\nMy FUNDAMENTAL TRADING PLAN for the remainder of 2015, involves the commodity based currencies at the core, so all news involving the AUD, NZD and CAD in particular interest me greatly.\r\n\r\nThe NZD will be one of my core currencies in my proposed plan, so with Business Confidence numbers and the Dairy Price Index news this week in addition to Chinese PMi data these items will be of high interest for me.\r\n\r\nIn addition the Trade balance and Retail Sales numbers from Australia will be interesting to digest as well as the comments from Governor Stevens at the beginning of the week.\r\n\r\nThe big news this week however that will attract the most attention is the direct USD data. Both employment releases are scheduled (ADP and Non-Farm) but also Consumer Confidence numbers and ISM Manufacturing data, which will be scrutinized closely by the FED. Expect a lot of movement.\r\n\r\nPlus not on the calendar is GREECE…. I will say no more.\r\n\r\n&nbsp;\r\n\r\n1.3: LOOKING SIDEWAYS (FOR GOOD MEASURE):\r\n\r\nI spoke with just two subscribers over the past week regarding the current situation within the Forex markets and I had a webinar (extended) session with my peer group.\r\n\r\nThe consensus after much debate was that in the existing range bound chop fest it was not only the correct idea to stay away from the EUR, but it was probably good just to day trade and even then just sit over your machine like a hawk whilst a trade was live. Basically, my plan that I had had been following for the month of June (trading light) was seen as a great policy.\r\n\r\nI knew that I had missed trades and whilst I was pinching myself a little over this fact, however, when I heard of some of the swift reversal moves in currency pairs away from and including the majors, I was glad that I had chosen to remain on the sidelines in $$$.\r\n\r\nHindsight is a wonderful thing as we all know, but in Forex trading sometimes your best trades are the ones that simply do not take and once you have your plan in place you TRADE YOUR PLAN.\r\n\r\nThis month the PREMIUM SERVICE with the “TRADE LIGHT” approach has still added 605 pips of profit to the bottom line, and, I cannot and should not complain or defend my approach this month given this result so far.\r\n\r\n<strong><u> </u></strong>\r\n<ol start=\"2\">\r\n	<li><strong> WHAT’S ON MY MIND: -\r\nTHE FUNDAMENTAL TRADERS OVERVIEW:</strong></li>\r\n</ol>\r\n<h3 style=\"text-align: center;\"><strong>WE ARE AT ANOTHER SET OF CROSSROADS…</strong></h3>\r\nThank goodness Eric Clapton is not paid royalties every time the word “crossroads” is used in my blog. If I earned a dollar for every time I have used the word “crossroads” in my blog to describe a situation in the markets both E.C. and I would have a tidy sum put to one side right now.\r\n\r\nWe are though, in my opinion, at another set of crossroads.\r\n\r\nGREECE, the FED and the CENTRAL BANKS being the directions on offer. That is of course unless I do a EUROZONE approach by burying my head in sand and staying fixed and solid at the crossroads not wanting to move, or I do a Mark Carney turn and run back to where I started.\r\nSeveral weeks ago I outlined at a macro level in this blog my FUNDAMENTAL TRADING PLAN for the remainder of 2015. It was focused on three main areas: -\r\n<p style=\"padding-left: 30px;\"><strong>Central Bank divergence.</strong>\r\n<strong>Greece creditor situation being settled to give market direction.</strong>\r\n<strong>Drop in OIL prices as supply and demand economic rules finally kick in.</strong></p>\r\n<p style=\"padding-left: 30px;\">Plus in addition I am cognizant of: -</p>\r\n<p style=\"padding-left: 30px;\"><strong>The China slowdown.</strong>\r\n<strong>World DEFLATIONARY issues and how this supports the CURRENCY WARS.</strong>\r\n<strong>A rather over inflated price of GOLD.</strong>\r\n<strong>Potential equity markets pullback.</strong></p>\r\n&nbsp;\r\n\r\nThe FOMC certainly placed a stop on matters with “dithering”, but I would not have set up trades until I was aware of how GREECE would be settled.\r\n\r\nAs you know, my feelings are that we will have a default and I am hoping that the politicians involved will have the balls to actually fix the issue and provide debt relief rather than a can kicking exercise. Time will tell and we have deadlines after deadlines that mean little, plus we have the most bizarre sound-bytes being touted and we have finger pointing.\r\n\r\nAs I have stated so many times before politicians are messers / muddlers / and definitely NOT problem solvers. GREECE is a problem, it requires fixing. Politicians are experts at pointing fingers at other politicians attributing blame. They are not good at addressing problems. They have egos based primarily on retaining the popular vote; they will do whatever they can to avoid making decisions.\r\n\r\nGREECE is a biggie, the biggest test of the EUROZONE so far. There is not a single politician involved who wants to go down in the history books as the one that broke the EUROZONE.\r\n\r\nLet me be clear; my direction from the junction is to follow the road with the CENTRAL BANK DIVERGENCE direction. I have learnt the hard way never to trade against the central bank monetary policy for longer term trades, you may get a day trade in the opposite direction but do not be greedy.\r\n\r\nWhilst I am moving in the direction towards CENTRAL BANK DIVERGENCE I would like GREECE fixed and the basic economics of supply and demand to hit the Oil markets.\r\n\r\nFailure of the divergences to take effect, I believe is a non-starter it is just a question of when. Janet Yellen is definitely guilty of dithering by waiting to increase U.S. interest rates. I had hoped to be fully into my trades prior to the summer break from trading, but this looks a little optimistic at the moment. However, USD strength will power through the markets and being long the USD is the trade in my opinion.\r\n\r\nThe GREECE situation will come to a conclusion. Whichever way the GREEK situation is “fixed”, does provoke, in my opinion, a contagion effect that will keep the EUR pressured and so a short EUR/USD is the trade. In fact I see a fully supportive / accommodative ECB for quite sometime to help the EUROZONE economies.\r\n\r\nThe OIL market, which has been damaged by hedge funds and pure big money speculators, has to run on supply and demand rules very soon otherwise there simply will not be space to store the excess production. This should show a downside move in Oil and then a weakening of the CAD, MXN and NOK currencies.\r\n\r\nMy FUNDAMENTAL overview, I believe is still in place for a positive trading result. My subscribers to the PREMIUM SERVICE will receive the trades as they are placed. There are thousands of pips available through the many trading options open. To wait and let a few hundred pips go by over the past few weeks does not worry me at all, in fact I look at this delay as superior RISK MANAGEMENT given the chop fest that has been the best way to describe the last three / four weeks of the FX markets.\r\n\r\nThe crossroads are here and the direction is a no brainer for me for the reasons above.\r\n\r\nThere are matters that could spring forward that could place a “SPANNER/ WRENCH” in the wheels such as a temporary 3–6 month extension of the current GREECE bailout program but this would also require debt forgiveness, however, I just don\'t see this. There could be a world geopolitical event, but we are always at risk of these 24x7. Basically, once the FED moves and GREECE is fixed my plan will be 100% in operation. I am hoping to have my plan starting this coming week.\r\n\r\nI will however place a few words of caution.\r\n\r\nUp until the FED raises rates and the GREECE defaulters are satisfied one way or another we are at the whim of the markets. We will remain range bound. What is the point of exposing yourself to the RISK of trading too early without the FUNDAMENTAL news backup to confirm your trades?\r\n\r\nPatience is required. Trades will be missed. Great entries will pass us by but we will be exercising great RISK and MONEY MANAGEMENT DISCIPLINES.\r\n\r\nRemember, there is a Forex market almost everyday, and, everyday there are trading opportunities.\r\n\r\nIf we have to stand and wait for a little while at the crossroads waiting - so be it. As long as we do not do a EUROZONE and bury our heads in the sand all will be good moving forward.\r\n\r\n&nbsp;\r\n<ol start=\"3\">\r\n	<li><strong> THE PREMIUM SERVICE:\r\n</strong></li>\r\n</ol>\r\n<strong>SUMMARY OF PERFORMANCE:</strong>\r\n\r\n3.1: OVERVIEW - SUBSCRIPTION OPTIONS, FEATURES and PRICING:\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\nFurther details and how to join are all contained there. The various pricing options for GOLD and SILVER subscriptions are listed. You will need a PayPal account to subscribe.\r\n\r\n<u>PLEASE NOTE:</u>\r\n\r\nDuring the summer from July 25<sup>th</sup> through to September 5<sup>th</sup> 2015, there will not be any WEEKLY FX DRIVE THRU blogs and PREMIUM SERVICE trading will be minimal due to slow markets. Subscribers will still be advised of trades, if any, but typically there are very few. Subscription periods DO NOT count the weeks when there is no blog.\r\n\r\n&nbsp;\r\n\r\n3.2: PERFORMANCE REVIEWS:\r\n<p style=\"text-align: center;\">PREMIUM SERVICE – COST INCOME ANALYSIS (USD):\r\n<strong>EMANATING FROM TRADE SET-UPS - 2015 to date:</strong></p>\r\n<p style=\"text-align: center;\">MICRO LOT TRADER - 411 trades cost to trade = $41.10\r\n<strong>PROFIT</strong> from 411 trades = <strong>$594.70</strong></p>\r\n<p style=\"text-align: center;\">MINI LOT TRADER - 411 trades cost to trade = $411.00\r\n<strong>PROFIT</strong> from 411 trades = <strong>$5,947.00</strong></p>\r\n<p style=\"text-align: center;\">STANDARD LOT TRADER - 411 trades cost to trade = $4,110.00\r\n<strong>PROFIT</strong> from 411 trades = <strong>$59,470.00</strong></p>\r\n&nbsp;\r\n\r\n3.3: PREMIUM SERVICE - TRADE SUMMARY DETAILS MONTH &amp; YTD:\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/PS-PROFITS1-28062015.png\"><img class=\"aligncenter size-full wp-image-6194\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/PS-PROFITS1-28062015.png\" alt=\"PS PROFITS1 28062015\" width=\"457\" height=\"420\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/PS-PROFITS2-28062015.png\"><img class=\"aligncenter size-full wp-image-6195\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/PS-PROFITS2-28062015.png\" alt=\"PS PROFITS2 28062015\" width=\"460\" height=\"442\" /></a>\r\n<ol start=\"4\">\r\n	<li><strong> PREMIUM SERVICE SUBSCRIBER EXCLUSIVE CONTENT:</strong></li>\r\n</ol>\r\n(Section 4 is exclusive PREMIUM SERVICE content only available to PREMIUM SERVICE subscribers)\r\n\r\n&nbsp;\r\n<ol start=\"5\">\r\n	<li><strong> MY FINAL THOUGHTS:</strong></li>\r\n</ol>\r\n5.1: SUBSCRIBING TO THE “FREE VERSION” OF THE WEEKLY FX DRIVE THRU:\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\n5.2: TRADING TIPS &amp; THOUGHTS FOR THE WEEK AHEAD:\r\n\r\nRemaining light on trading may only last until Tuesday or Wednesday this week as I am hoping that the GREECE situation will be resolved one way or another. Once we know how its resolved, it sets us up knowing how to trade after the dust settles a little.\r\n\r\nThis week is a big week for big event news and there are many items of news surrounding my key currency pairs moving forward. I am hoping that I can engineer trades around these news releases to kick-start my trades at good entry levels. It is impossible to predict this but one can only hope.\r\n\r\nAs always, with high-risk news on the imminent horizon it is now in my mind, even more important to stick to core trading principles.\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\nTake care.\r\n\r\nScott Pickering\r\nThe Pip Accumulator\r\nSunday June 28th 2015\r\n\r\nEMAIL / FOLLOW ME AT:\r\ndrivethru@weeklyfxdrivethru.com\r\nhttp://www.twitter.com/pipaccumulator\r\nhttp://www.google.com/+ScottPickering\r\nhttp://www.youtube.com/c/ScottPickering\r\nhttp://www.thepipaccumulator.tumblr.com\r\nhttp://www.stocktwits.com/thepipaccumulator\r\n\r\nVIEWS AND COMMENTS IN THIS BLOG:\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\nTHIRD PARTY COMPANIES WITH BANNERS ON MY WEBSITE:\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\nTRADING &amp; PERFORMANCES DISCLAIMER:\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.','WE ARE AT ANOTHER SET OF CROSSROADS…','','inherit','open','closed','','6220-revision-v1','','','2015-06-27 06:27:58','2015-06-27 11:27:58','',6220,'https://weeklyfxdrivethru.com/6220-revision-v1/',0,'revision','',0),(6242,1,'2015-06-30 17:02:42','2015-06-30 22:02:42','<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/2015/06/RISK-REWARD-JUNE-2015.png\"><img class=\"aligncenter size-full wp-image-6234\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/RISK-REWARD-JUNE-2015.png\" alt=\"RISK-REWARD JUNE 2015\" width=\"425\" height=\"541\" /></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','','','2015-06-30 17:02:42','2015-06-30 22:02:42','',5006,'https://weeklyfxdrivethru.com/5006-revision-v1/',0,'revision','',0),(6260,1,'2015-07-04 10:17:15','2015-07-04 15:17:15','<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&nbsp;\r\n<ol>\r\n	<li><strong> INTRODUCTION – THE VIEW FROM MY TRADE DESK:</strong></li>\r\n</ol>\r\nLOOKING BACKWARDS, FORWARDS &amp; SIDEWAYS (FOR GOOD MEASURE) AT THE FX MARKET:\r\n\r\n1.1: LOOKING BACKWARDS:\r\n\r\nI would say that when Tsipras and Varoufakis walked out of the EUROGROUP meeting last week and announced that they would ask the population of GREECE to decide, that must have taken the wind out of the sails of Merkel, Dijsselbloem and the rest of the EUROGROUP around the table.\r\n\r\nI have read soooooo many articles this week I think I have further strained my eyes and need to update my reading glasses. A referendum, never appeared anywhere on the stuff I read, and, frankly this will be seen in the future as either a stroke of genius on his part for whatever his plans are moving forward or as something rather foolish akin to a turkey voting for Christmas. Nevertheless, unless I do not know about it, time travel has still not been invented and therefore you cannot go back in time and re-write history to eradicate poor decisions.\r\n\r\nOn the 5<sup>th</sup> July 2015, we have a vote in GREECE “OXI or NAI”. I am not really sure how this can be a vote on the EUROGROUP package that Tsipras walked away from, it is my understanding that those terms and conditions are no longer applicable and were withdrawn the moment Tsipras left the table. So much is miss-quoted, so much of what is on the news wires are selected words from a press release without the context in place, plus it is very difficult to keep track of the timeline of events. All I know is that the finger-pointing is well underway… politicians are good at this… “the blame game”.\r\n\r\nSo in my opinion most GREEKS will read the vote as a simple referendum on keeping the single-currency, as all deals are now off. It is a vote on the Syriza party government and Tsipras as prime minister.\r\n\r\nThe big question is of course: Is anyone expecting a “NO” vote result? It looks close, but whatever the vote we will have confusion in abundance.\r\n\r\nWithout any doubt Tsipras has placed what can only be termed as a noose around his neck by calling this referendum. Whatever the result, there will be confusion. No deal is actually on the table from the creditors to vote on, so what does that mean, back to negotiations? A “NO” vote means exit from the single currency but the EUROZONE has no mechanism as far as I know to do this.\r\n\r\nHappy times, fun days of trading this week looks to be on cards.\r\n\r\nI would suggest you position size very carefully to manage RISK and potential exposure or just exit trades to watch. I expect some volatility to take place in the Forex market.\r\n\r\nThe other major news in my eyes last week was Non-Farm payrolls in the U.S. Not brilliant numbers by all accounts and not the blow out numbers expected. As usual CNBC and BLOOMBERG rolled out the usual suspects to debate the influence of these numbers on the timing of the FED rate hike later this year and the potential number of rate increases. I must admit I am getting bored about writing about the FED rate hike, but not a bored as these presenters on TV trying to make news…\r\n\r\nIn my opinion, the FED will just not look at one month in isolation. U.S. data is not 100% brilliant and Janet Yellen has been consistent all along stating that future rate increases are based upon data dependency showing strength. To be frank, I feel that the FED credibility overrides this and she will raise rates in September / October no matter what. If she waits until December as some analysts state this will be the calendar version of “the last chance saloon” / lastminute.com and this will be seen for what it is - desperation to ensure credibility, this is why I think the fall is when the hike will occur and this keeps the FED credibility intact. Remember the “DOTS” from the last FOMC meeting; most of the FOMC committee members had two rate increases in mind for this year.\r\n\r\nApart from GREECE and NFP I traded very lightly last week in keeping with my plan until GREECE is resolved for the short-term at least.\r\n\r\nI think GREECE will not even be fixed in my lifetime, and whilst this is my own opinion, I think that the self-serving politicians from both sides of the divide past and present that have been involved in this farce of a solution should be ashamed of themselves. To see senior citizens lining up outside a bank to withdraw €100 or so to live on, is a bloody disgrace, this is 2015 not 1915.\r\n\r\nGREECE has a lot to answer for, with regards to the existing position, but the can kicking EUROZONE politicians are certainly not free from guilt and the IMF should be above all this and be able to see that GREECE simply could not afford to repay from day one.\r\n\r\nIt is shambolic at best and it is far from over yet. I have seen better-organized chickens running around a farmyard with their heads chopped off.\r\n\r\n&nbsp;\r\n\r\n1.2: LOOKING FORWARDS:\r\n\r\nMAJOR FOREX NEWS THIS WEEK THAT INTERESTS ME:\r\n\r\n(There are many more news items related to the Forex Market than the ones listed below. These are the ones that interest me. You can go to <a href=\"http://www.forexfactory.com\">www.forexfactory.com</a> and <a href=\"http://www.tradingeconomics.com\">www.tradingeconomics.com</a> for more comprehensive lists of all news events that are Forex related).\r\nSUNDAY: EUR – Greek Referendum.\r\n\r\nMONDAY: CAD – Ivey PMi.\r\nMONDAY: NZD – NZIER Business Confidence.\r\n\r\nTUESDAY: AUD – RBA Rate Statement.\r\n\r\nWEDNESDAY: USD – FOMC Meeting Minutes.\r\nWEDNESDAY: AUD – Employment Data\r\nWEDNESDAY: CNY – CPi.\r\n\r\nTHURSDAY: GBP – BOE Rate Statement.\r\n\r\nFRIDAY: CAD – Employment Rate.\r\n\r\nObviously GREECE will dominate the news. It may be an economy the size of Colorado in the U.S. but its much more important from a contagion viewpoint amongst other well documented reasons.\r\n\r\nAs subscribers will know the news involving the CAD this week will be of particular interest given my longer-term views on this currency.\r\n\r\nThe AUD and NZD currencies play a major part in my 2015 trade plan (see prior blogs) and we have key Aussie data this week. I feel that we may see another cut from the RBA so do not be surprised for pandemonium to ensue as the BOC and RBNZ (already under pressure) will come into focus. All good news for me and traders that subscribe and follow my trades. Happy Days!!\r\n\r\n&nbsp;\r\n\r\n1.3: LOOKING SIDEWAYS (FOR GOOD MEASURE):\r\n\r\nI think at the moment as traders we need to be very clever and size trades smaller than usual; I am expecting wild swings and then an ultimate direction following the immediate GREECE news, we need to be ready.\r\n\r\nLongevity as I write every week in this blog is paramount to success and you only have longevity through effective RISK and MONEY MANAGEMENT with properly sized trades in line with the risk associated with the size of your trading account.\r\n\r\nAfter 8 years of this, let me tell you this coming week accounts will get blown out, if caution and common sense is NOT applied.\r\n\r\nWe all want to make money but this is not a sprint it\'s a marathon. If you want to gamble find a casino.\r\n\r\nThe best trade coming up over the next few sessions may be no trade at all. At least then you will not be positioned poorly.\r\n\r\nThink long and hard about what type of trader you are and what your goals are for the medium and long term. There is a Forex market every day, so to miss a couple of days is not that big of an issue.\r\n\r\n&nbsp;\r\n<ol start=\"2\">\r\n	<li><strong> WHAT’S ON MY MIND: -\r\nTHE FUNDAMENTAL TRADERS OVERVIEW:</strong></li>\r\n</ol>\r\n<h3 style=\"text-align: center;\"><strong>WILL THE EUR/USD FALL NO MATTER WHICH WAY GREECE VOTES?</strong></h3>\r\nAnother week has passed and we have entered what appears to be a void similar to something from a sci-fi movie or an episode from Star Trek.\r\n\r\nWe are on hold, almost like suspended animation. However we are surrounded by things happening with regards to the Forex market based on pure speculation about something no one has a clue about. We don\'t know what the outcome will be or what affect it is going to have.\r\n\r\nIf you think that’s going to stop me having an opinion…think again!! Remember, I am originally from Liverpool; I have an opinion on most things and most definitely on Forex matters!!\r\n\r\nLook at the weekly EUR/USD chart below. It shows a “BEAR FLAG” formation pointing to 0.8000. I would say definitely below 1.0950 it’s in play (other traders may say 1.1000 or 1.0960 are the break levels). I do know that should it break higher above 1.1480 the flag pattern is invalidated.\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/07/EURUSD-BLOG-MAIN-PIECE-2.0-05072015-WILL-EURUSD-FALL-NO-MATTER-WHICH-WAY-GREECE-VOTES.png\"><img class=\"aligncenter size-large wp-image-6261\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/07/EURUSD-BLOG-MAIN-PIECE-2.0-05072015-WILL-EURUSD-FALL-NO-MATTER-WHICH-WAY-GREECE-VOTES-1024x541.png\" alt=\"EURUSD BLOG MAIN PIECE 2.0 05072015 WILL EURUSD FALL NO MATTER WHICH WAY GREECE VOTES\" width=\"1024\" height=\"541\" /></a>\r\n\r\nSo last week I wrote that were we at a “CROSSROADS” once again. I’m still standing, as Elton John would say. I want to move off but GREECE is holding me back for now.\r\n\r\nThese are my continued thoughts and frankly regular readers will not see much of a sea change in my thoughts and views.\r\n\r\nIf a “YES” vote is the result from the referendum, In my mind we still have huge uncertainty. This would be a failure on the part of Tsipras and the Syriza party who want a “NO” vote result. Will the government resign? Varoufakis has already stated he walks on a “YES” vote.\r\n\r\nWe then require an interim government until new elections can be held. The banks have no money. GREECE has already defaulted to the IMF. There is no bailout money or temporary funding on the table. There is no ECB ELA funding available to keep the GREEK banks liquid.\r\n\r\nWill the ECB / EUROGROUP and IMF step in to support?\r\n\r\nThere would be huge uncertainty and quite frankly we enter unchartered waters. Even if there was support for GREECE this would be a can-kicking” exercise once again that GREECE cannot afford to repay and nothing would actually be solved resulting in a depressed EUR currency in my eyes as I think that Mario Draghi would be having low rates forever trying to fix the overall EUROZONE economy. He could no longer pander just to GERMANY as it would be seen for what it was, basically a f**k you approach to GREECE.\r\n\r\nThe EUROZONE is meant to be a union and I believe this may be the incident that starts this way of thinking and more importantly behaving. But hey… this is the EUROZONE … common sense is left at the invisible border!!\r\n\r\nA “NO” vote starts my CONTAGION THEORY from a few weeks ago that I keep referring to. A “NO” vote provides Tsipras with the mandate to pull away from the single currency and re-introduce the Drachma.\r\n\r\nWhilst there is no mechanism for a country to exit the single currency, I can imagine as I type there are armies of lawyers in Brussels with fat expense accounts working on this subject.\r\n\r\nA GREXIT causes many other issues not just the GREXIT itself but also the IMF default and places all future monies owed to creditors in doubt. Ignoring the local work to be done in GREECE with banks and the financial markets to establish a footing from which to work off which will be a massive undertaking in itself, the effect on the world markets could be unparalleled.\r\n\r\nThis would create huge uncertainty and frankly the “Who’s Next” debate will gather momentum. It has already started in the local press in SPAIN, PORTUGAL and ITALY.\r\n\r\nIf that was not enough in itself to digest…. The FED want to raise interest rates.\r\n\r\nPOLITICAL INSTABILITY\r\n\r\nMARKETS UNCERTAINTY\r\n\r\nFINANCIAL MARKETS IN EUROPE IN TURMOIL\r\n\r\nTHE CONTAGION EFFECT\r\n\r\nAll of the above in my opinion send the EUR/USD lower…. Add to this Central Bank divergence with the FED raising rates and the ECB probably on low rates to infinity and the BEAR FLAG from the chart above could be on.\r\n\r\nNow I have been talking about my FUNDAMENTAL views for months and the EUR/USD testing parity but now this could be a possibility as the GREECE situation has been allowed to drag on because of a lack of desire to fix the problem head on in my opinion. There have been too many can-kicking exercises over the years from the EUROGROUP and it has resulted in what we have now.\r\n\r\nA massive EUR/USD sell off is a possibility, all the factors are there. Will it happen?\r\n\r\n<strong> </strong><strong> </strong>\r\n<ol start=\"3\">\r\n	<li><strong> THE PREMIUM SERVICE:</strong></li>\r\n</ol>\r\n<strong>SUMMARY OF PERFORMANCE:</strong>\r\n\r\nPREMIUM SERVICE – COST INCOME ANALYSIS (USD):\r\nEMANATING FROM TRADE SET-UPS – to 30<sup>th</sup> June 2015.\r\n\r\nMICRO LOT TRADER - 420 trades cost to trade = $42.00\r\n<strong>PROFIT</strong> from 420 trades = <strong>$599.70</strong>\r\n\r\nMINI LOT TRADER - 420 trades cost to trade = $420.00\r\n<strong>PROFIT</strong> from 420 trades = <strong>$5,997.00</strong>\r\n\r\nSTANDARD LOT TRADER - 420 trades cost to trade = $4,200.00\r\n<strong>PROFIT</strong> from 420 trades = <strong>$59,970.00</strong>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n<ol start=\"4\">\r\n	<li><strong> PREMIUM SERVICE SUBSCRIBER EXCLUSIVE CONTENT:</strong></li>\r\n</ol>\r\n(Section 4 is exclusive PREMIUM SERVICE content only available to PREMIUM SERVICE subscribers)\r\n\r\n4.1: EDUCATION:<u>\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 after the summer break in September 2015.\r\n\r\n&nbsp;\r\n\r\n4.2: THE PREMIUM SERVICE – TRADING REVIEW &amp; LOOKING FORWARD:\r\n\r\nJUNE 2015 REVIEW:\r\n\r\n44 trades were completed last month.\r\n\r\nBelow I have added into the blog the: -\r\n<ul>\r\n	<li>MONTHLY: - RADAR, FLASH and FUNDAMENTAL excel spreadsheets.</li>\r\n	<li>YEAR TO DATE: - RADAR, FLASH and FUNDAMENTAL excel spreadsheets.</li>\r\n	<li>JUNE 2015 and YEAR TO DATE: - RISK –REWARD ANALYSIS.</li>\r\n	<li>JUNE 2015 and YEAR TO DATE: - PROFIT LOSS RATIOS.</li>\r\n	<li>2015 versus 2014 PIP PERFORMANCE ANALYSIS.</li>\r\n	<li>JUNE and YEAR TO DATE: - PREMIUM SERVICE TRADE SUMMARIES.</li>\r\n</ul>\r\nAll of these charts below are also on the website.\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/RADAR1-30062015.png\"><img class=\"aligncenter size-full wp-image-6228\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/RADAR1-30062015.png\" alt=\"RADAR1 30062015\" width=\"544\" height=\"560\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/RADAR2-30062015.png\"><img class=\"aligncenter size-full wp-image-6229\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/RADAR2-30062015.png\" alt=\"RADAR2 30062015\" width=\"554\" height=\"563\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/FLASH1-30062015.png\"><img class=\"aligncenter size-full wp-image-6225\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/FLASH1-30062015.png\" alt=\"FLASH1 30062015\" width=\"502\" height=\"561\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/FLASH2-30062015.png\"><img class=\"aligncenter size-full wp-image-6226\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/FLASH2-30062015.png\" alt=\"FLASH2 30062015\" width=\"515\" height=\"554\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/FUNDAMENTAL-30062015.png\"><img class=\"aligncenter size-full wp-image-6231\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/FUNDAMENTAL-30062015.png\" alt=\"FUNDAMENTAL 30062015\" width=\"507\" height=\"564\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/RADAR-YTD062015.png\"><img class=\"aligncenter size-full wp-image-6230\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/RADAR-YTD062015.png\" alt=\"RADAR YTD062015\" width=\"354\" height=\"380\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/FLASH-YTD062015.png\"><img class=\"aligncenter size-full wp-image-6227\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/FLASH-YTD062015.png\" alt=\"FLASH YTD062015\" width=\"349\" height=\"363\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/FUNDAMENTAL-YTD062015.png\"><img class=\"aligncenter size-full wp-image-6232\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/FUNDAMENTAL-YTD062015.png\" alt=\"FUNDAMENTAL YTD062015\" width=\"350\" height=\"399\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/RISK-REWARD-JUNE-2015.png\"><img class=\"aligncenter size-full wp-image-6234\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/RISK-REWARD-JUNE-2015.png\" alt=\"RISK-REWARD JUNE 2015\" width=\"425\" height=\"541\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/PS-PROFIT-LOSS-JUNE-2015.png\"><img class=\"aligncenter size-full wp-image-6233\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/PS-PROFIT-LOSS-JUNE-2015.png\" alt=\"PS PROFIT-LOSS JUNE 2015\" width=\"416\" height=\"582\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/PIP-COMPARISON-2015-2014.png\"><img class=\"aligncenter size-full wp-image-6235\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/PIP-COMPARISON-2015-2014.png\" alt=\"PIP COMPARISON 2015-2014\" width=\"626\" height=\"543\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/PS-PROFITS1-JUNE-2015.png\"><img class=\"aligncenter size-full wp-image-6223\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/PS-PROFITS1-JUNE-2015.png\" alt=\"PS PROFITS1 JUNE 2015\" width=\"460\" height=\"427\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/PS-PROFITS2-JUNE2015.png\"><img class=\"aligncenter size-full wp-image-6224\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/PS-PROFITS2-JUNE2015.png\" alt=\"PS PROFITS2 JUNE2015\" width=\"460\" height=\"420\" /></a>\r\n\r\n&nbsp;\r\n\r\nAs I mentioned throughout last month I traded lighter in view of geopolitical news events. This resulted in more FLASH TRADES being taken with me trying to take advantage of mostly market momentum moves. As discussed previously, I tried my best at times to let trades run but as noted on several occasions I gave back hundreds of pips to my brokers, as basically June was a day trader’s month. In fact it was not even a day trade market most of the time, it really was probably 75% of the time a scalper’s marketplace.\r\n\r\nA total of 655 pips profit was generated in June, which were 20 pips more than June last year. Year to date 2015 is 1,490 pips ahead of 2014. The grand total year to date so far is 5,997 pips.\r\n\r\nProfit / Loss ratio’s are still below what I am happy with at 68% profitable trades and 32% loss making trades in June. Year to date, the ratio is 71% versus 29%. My target is 75% - 25%.\r\n\r\nLooking ahead, I am hoping that following some sort of resolution with GREECE, which could be further away than originally thought, my TRADING PLAN should trigger some nice pip moves. As mentioned on so many occasions I am trying to exercise patience to wait for these moves to set up properly.\r\n\r\nTo date I have two FUNDAMENTAL TRADES in place with the NZD/USD and USD/CAD. I am hoping that not too far away about 5/6 others can be added.\r\n\r\n&nbsp;\r\n\r\n4.3: THE PREMIUM SERVICE - EXISTING LIVE TRADES:\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/07/PS-LIVE-TRADES-05072015.png\"><img class=\"aligncenter size-full wp-image-6246\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/07/PS-LIVE-TRADES-05072015.png\" alt=\"PS LIVE TRADES 05072015\" width=\"720\" height=\"576\" /></a>\r\n\r\n4.4: THE PREMIUM SERVICE – EXISTING LIMIT ORDERS:\r\n\r\n(Remember 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&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/07/PS-LIMIT-ORDERS-05072015.png\"><img class=\"aligncenter size-full wp-image-6245\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/07/PS-LIMIT-ORDERS-05072015.png\" alt=\"PS LIMIT ORDERS 05072015\" width=\"702\" height=\"460\" /></a>\r\n\r\n&nbsp;\r\n\r\n4.5: ARMEGEDDON “GOLDEN” TRADES:\r\n\r\n(Emanating from conversations and requested by fellow subscribers these trade set-ups are based on severe market pullbacks, breakouts or breakdowns. These trades would apply after major geopolitical news has hit the news wires. These are also trade levels that provided great set ups in the past that would hopefully represent great entry opportunities again in the future).\r\n\r\nGOLDEN TRADE #004\r\nGBP/CHF:\r\nEnter long at 1.4000\r\n\r\nMy comments are contained on the chart.\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/07/004-ARMEGEDDON-TRADE-GBPCHF-WEEKLY-05072015.png\"><img class=\"aligncenter size-large wp-image-6249\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/07/004-ARMEGEDDON-TRADE-GBPCHF-WEEKLY-05072015-1024x541.png\" alt=\"#004 ARMEGEDDON TRADE GBPCHF WEEKLY 05072015\" width=\"1024\" height=\"541\" /></a>\r\n\r\n&nbsp;\r\n\r\n4.6: POTENTIAL TRADES - WHAT CHARTS AM I LOOKING AT?\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\nTHIS WEEKS OVERVIEW:\r\n\r\nVery similar to last week, I am being selective on charts that interest me from a trading perspective. This week only three charts are attracting my interest: - EUR/CAD, GBP/CAD and EUR/GBP. My comments for each pair are contained on the charts.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/07/EURCAD-DAILY-05072015.png\"><img class=\"aligncenter size-large wp-image-6259\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/07/EURCAD-DAILY-05072015-1024x541.png\" alt=\"EURCAD DAILY 05072015\" width=\"1024\" height=\"541\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/07/EURGBP-DAILY-05072015.png\"><img class=\"aligncenter size-large wp-image-6258\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/07/EURGBP-DAILY-05072015-1024x541.png\" alt=\"EURGBP DAILY 05072015\" width=\"1024\" height=\"541\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/07/GBPCAD-MONTHLY-05072015.png\"><img class=\"aligncenter size-large wp-image-6257\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/07/GBPCAD-MONTHLY-05072015-1024x541.png\" alt=\"GBPCAD MONTHLY 05072015\" width=\"1024\" height=\"541\" /></a>\r\n\r\n&nbsp;\r\n\r\n4.7: MAJOR TRADING PAIRS WITH LONGER-TERM MATCHING TRENDS:\r\n\r\n(The following currency pairs have Short Term (DAILY), Medium Term (WEEKLY) and Long Term (MONTHLY) charts all trending in the same direction).\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/07/PS-TRENDING-PAIRS-05072015.png\"><img class=\"aligncenter size-full wp-image-6247\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/07/PS-TRENDING-PAIRS-05072015.png\" alt=\"PS TRENDING PAIRS 05072015\" width=\"405\" height=\"522\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n4.8: THE KEY SUPPORT &amp; RESISTANCE LEVELS WITH THE USD MAJORS<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\nAll of my thoughts and my comments relating to each USD major are now contained on the charts.\r\n\r\n&nbsp;\r\n\r\n<strong>EUR/USD: Closing Price 1.1106</strong>\r\n\r\n<strong> <a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/07/EURUSD-W-05072015.png\"><img class=\"aligncenter size-large wp-image-6255\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/07/EURUSD-W-05072015-1024x541.png\" alt=\"EURUSD W 05072015\" width=\"1024\" height=\"541\" /></a></strong>\r\n\r\n<strong> </strong>\r\n\r\n<strong> </strong>\r\n\r\n<strong>GBP/USD: Closing Price 1.5549</strong>\r\n\r\n<strong> <a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/07/GBPUSD-W-05072015.png\"><img class=\"aligncenter size-large wp-image-6254\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/07/GBPUSD-W-05072015-1024x541.png\" alt=\"GBPUSD W 05072015\" width=\"1024\" height=\"541\" /></a></strong>\r\n\r\n<strong> </strong>\r\n\r\n<strong> </strong>\r\n\r\n<strong>AUD/USD: Closing Price 0.7498</strong>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/07/AUDUSD-W-05072015.png\"><img class=\"aligncenter size-large wp-image-6256\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/07/AUDUSD-W-05072015-1024x541.png\" alt=\"AUDUSD W 05072015\" width=\"1024\" height=\"541\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n<strong>NZD/USD: Closing Price 0.6665</strong>\r\n\r\n<strong> <a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/07/NZDUSD-W-05072015.png\"><img class=\"aligncenter size-large wp-image-6253\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/07/NZDUSD-W-05072015-1024x541.png\" alt=\"NZDUSD W 05072015\" width=\"1024\" height=\"541\" /></a></strong>\r\n\r\n<strong> </strong>\r\n\r\n<strong> </strong>\r\n\r\n<strong>USD/CAD: Closing Price 1.2561</strong>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/07/USDCAD-W-05072015.png\"><img class=\"aligncenter size-large wp-image-6252\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/07/USDCAD-W-05072015-1024x541.png\" alt=\"USDCAD W 05072015\" width=\"1024\" height=\"541\" /></a>\r\n\r\n&nbsp;\r\n\r\n<strong>USD/CHF: Closing Price 0.9391</strong>\r\n\r\n<strong> <a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/07/USDCHF-W-05072015.png\"><img class=\"aligncenter size-large wp-image-6251\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/07/USDCHF-W-05072015-1024x541.png\" alt=\"USDCHF W 05072015\" width=\"1024\" height=\"541\" /></a></strong>\r\n\r\n<strong> </strong>\r\n\r\n<strong> </strong>\r\n\r\n<strong>USD/JPY: Closing Price 122.66</strong>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/07/USDJPY-W-05-072015.png\"><img class=\"aligncenter size-large wp-image-6250\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/07/USDJPY-W-05-072015-1024x541.png\" alt=\"USDJPY W 05-072015\" width=\"1024\" height=\"541\" /></a>\r\n\r\n&nbsp;\r\n<ol start=\"5\">\r\n	<li><strong> MY FINAL THOUGHTS:</strong></li>\r\n</ol>\r\n5.2: TRADING TIPS &amp; THOUGHTS FOR THE WEEK AHEAD:\r\n\r\nThis may be the time if you are relatively new to trading to maybe hold back a little, maybe not even trade at all into the GREECE news. Mainly, I would avoid the main European currencies EUR, GBP and CHF.\r\n\r\nThere is always a risk with Forex but trading non-European based currencies should be a little less risky than say the EUR.\r\n\r\nI intend to remain light into the middle of the week depending upon the GREECE referendum outcome and fallout.\r\n\r\nAs always, with high-risk news on the imminent horizon it is now in my mind, even more important to stick to core trading principles.\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\n\r\nEMAIL / FOLLOW ME AT:\r\npremiumservice@weeklyfxdrivethru.com\r\nhttp://www.twitter.com/pipaccumulator\r\nhttp://www.twitter.com/ThePremService\r\nhttp://www.google.com/+ScottPickering\r\nhttp://www.youtube.com/c/ScottPickering\r\nhttp://www.thepipaccumulator.tumblr.com\r\nhttp://www.stocktwits.com/thepipaccumulator\r\n\r\nBLOG DATA:\r\nDATE: 05.07.2015\r\nBLOG FORMAT/ VERSION / AUDIENCE: THE PREMIUM SERVICE\r\nBLOG REFERENCE: #67\r\n\r\nVIEWS AND COMMENTS IN THIS BLOG:\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\nTHIRD PARTY COMPANIES WITH BANNERS ON MY WEBSITE:\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\nTRADING &amp; PERFORMANCES DISCLAIMER:\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.','WILL THE EUR/USD FALL NO MATTER WHICH WAY GREECE VOTES?','','publish','open','closed','','will-the-eurusd-fall-no-matter-which-way-greece-votes','','','2015-07-04 10:17:15','2015-07-04 15:17:15','',0,'https://weeklyfxdrivethru.com/?post_type=member_posts&#038;p=6260',0,'member_posts','',0),(6262,1,'2015-07-04 10:10:38','2015-07-04 15:10:38','<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&nbsp;\r\n<ol>\r\n	<li><strong> INTRODUCTION – THE VIEW FROM MY TRADE DESK:</strong></li>\r\n</ol>\r\nLOOKING BACKWARDS, FORWARDS &amp; SIDEWAYS (FOR GOOD MEASURE) AT THE FX MARKET:\r\n\r\n1.1: LOOKING BACKWARDS:\r\n\r\nI would say that when Tsipras and Varoufakis walked out of the EUROGROUP meeting last week and announced that they would ask the population of GREECE to decide, that must have taken the wind out of the sails of Merkel, Dijsselbloem and the rest of the EUROGROUP around the table.\r\n\r\nI have read soooooo many articles this week I think I have further strained my eyes and need to update my reading glasses. A referendum, never appeared anywhere on the stuff I read, and, frankly this will be seen in the future as either a stroke of genius on his part for whatever his plans are moving forward or as something rather foolish akin to a turkey voting for Christmas. Nevertheless, unless I do not know about it, time travel has still not been invented and therefore you cannot go back in time and re-write history to eradicate poor decisions.\r\n\r\nOn the 5<sup>th</sup> July 2015, we have a vote in GREECE “OXI or NAI”. I am not really sure how this can be a vote on the EUROGROUP package that Tsipras walked away from, it is my understanding that those terms and conditions are no longer applicable and were withdrawn the moment Tsipras left the table. So much is miss-quoted, so much of what is on the news wires are selected words from a press release without the context in place, plus it is very difficult to keep track of the timeline of events. All I know is that the finger-pointing is well underway… politicians are good at this… “the blame game”.\r\n\r\nSo in my opinion most GREEKS will read the vote as a simple referendum on keeping the single-currency, as all deals are now off. It is a vote on the Syriza party government and Tsipras as prime minister.\r\n\r\nThe big question is of course: Is anyone expecting a “NO” vote result? It looks close, but whatever the vote we will have confusion in abundance.\r\n\r\nWithout any doubt Tsipras has placed what can only be termed as a noose around his neck by calling this referendum. Whatever the result, there will be confusion. No deal is actually on the table from the creditors to vote on, so what does that mean, back to negotiations? A “NO” vote means exit from the single currency but the EUROZONE has no mechanism as far as I know to do this.\r\n\r\nHappy times, fun days of trading this week looks to be on cards.\r\n\r\nI would suggest you position size vey carefully to manage RISK and potential exposure or just exit trades to watch. I expect some volatility to take place in the Forex market.\r\n\r\nThe other major news in my eyes last week was Non-Farm payrolls in the U.S. Not brilliant numbers by all accounts and not the blow out numbers expected. As usual CNBC and BLOOMBERG rolled out the usual suspects to debate the influence of these numbers on the timing of the FED rate hike later this year and the potential number of rate increases. I must admit I am getting bored about writing about the FED rate hike, but not a bored as these presenters on TV trying to make news…\r\n\r\nIn my opinion, the FED will just not look at one month in isolation. U.S. data is not 100% brilliant and Janet Yellen has been consistent all along stating that future rate increases are based upon data dependency showing strength. To be frank, I feel that the FED credibility overrides this and she will raise rates in September / October no matter what. If she waits until December as some analysts state this will be the calendar version of “the last chance saloon” / lastminute.com and this will be seen for what it is - desperation to ensure credibility, this is why I think the fall is when the hike will occur and this keeps the FED credibility intact. Remember the “DOTS” from the last FOMC meeting; most of the FOMC committee members had two rate increases in mind for this year.\r\n\r\nApart from GREECE and NFP I traded very lightly last week in keeping with my plan until GREECE is resolved for the short-term at least.\r\n\r\nI think GREECE will not even be fixed in my lifetime, and whilst this is my own opinion, I think that the self-serving politicians from both sides of the divide past and present that have been involved in this farce of a solution should be ashamed of themselves. To see senior citizens lining up outside a bank to withdraw €100 or so to live on, is a bloody disgrace, this is 2015 not 1915.\r\n\r\nGREECE has a lot to answer for, with regards to the existing position, but the can kicking EUROZONE politicians are certainly not free from guilt and the IMF should be above all this and be able to see that GREECE simply could not afford to repay from day one.\r\n\r\nIt is shambolic at best and it is far from over yet. I have seen better-organized chickens running around a farmyard with their heads chopped off.\r\n\r\n&nbsp;\r\n\r\n1.2: LOOKING FORWARDS:\r\n\r\nMAJOR FOREX NEWS THIS WEEK THAT INTERESTS ME:\r\n\r\n(There are many more news items related to the Forex Market than the ones listed below. These are the ones that interest me. You can go to <a href=\"http://www.forexfactory.com\">www.forexfactory.com</a> and <a href=\"http://www.tradingeconomics.com\">www.tradingeconomics.com</a> for more comprehensive lists of all news events that are Forex related).\r\nSUNDAY: EUR – Greek Referendum.\r\n\r\nMONDAY: CAD – Ivey PMi.\r\nMONDAY: NZD – NZIER Business Confidence.\r\n\r\nTUESDAY: AUD – RBA Rate Statement.\r\n\r\nWEDNESDAY: USD – FOMC Meeting Minutes.\r\nWEDNESDAY: AUD – Employment Data\r\nWEDNESDAY: CNY – CPi.\r\n\r\nTHURSDAY: GBP – BOE Rate Statement.\r\n\r\nFRIDAY: CAD – Employment Rate.\r\n\r\nObviously GREECE will dominate the news. It may be an economy the size of Colorado in the U.S. but its much more important from a contagion viewpoint amongst other well documented reasons.\r\n\r\nAs subscribers will know the news involving the CAD this week will be of particular interest given my longer-term views on this currency.\r\n\r\nThe AUD and NZD currencies play a major part in my 2015 trade plan (see prior blogs) and we have key Aussie data this week. I feel that we may see another cut from the RBA so do not be surprised for pandemonium to ensue as the BOC and RBNZ (already under pressure) will come into focus. All good news for me and traders that subscribe and follow my trades. Happy Days!!\r\n\r\n&nbsp;\r\n\r\n1.3: LOOKING SIDEWAYS (FOR GOOD MEASURE):\r\n\r\nI think at the moment as traders we need to be very clever and size trades smaller than usual; I am expecting wild swings and then an ultimate direction following the immediate GREECE news, we need to be ready.\r\n\r\nLongevity as I write every week in this blog is paramount to success and you only have longevity through effective RISK and MONEY MANAGEMENT with properly sized trades in line with the risk associated with the size of your trading account.\r\n\r\nAfter 8 years of this, let me tell you this coming week accounts will get blown out, if caution and common sense is NOT applied.\r\n\r\nWe all want to make money but this is not a sprint it\'s a marathon. If you want to gamble find a casino.\r\n\r\nThe best trade coming up over the next few sessions may be no trade at all. At least then you will not be positioned poorly.\r\n\r\nThink long and hard about what type of trader you are and what your goals are for the medium and long term. There is a Forex market every day, so to miss a couple of days is not that big of an issue.\r\n\r\n&nbsp;\r\n<ol start=\"2\">\r\n	<li><strong> WHAT’S ON MY MIND: -\r\nTHE FUNDAMENTAL TRADERS OVERVIEW:</strong></li>\r\n</ol>\r\n<h3 style=\"text-align: center;\"><strong>WILL THE EUR/USD FALL NO MATTER WHICH WAY GREECE VOTES?</strong></h3>\r\nAnother week has passed and we have entered what appears to be a void similar to something from a sci-fi movie or an episode from Star Trek.\r\n\r\nWe are on hold, almost like suspended animation. However we are surrounded by things happening with regards to the Forex market based on pure speculation about something no one has a clue about. We don\'t know what the outcome will be or what affect it is going to have.\r\n\r\nIf you think that’s going to stop me having an opinion…think again!! Remember, I am originally from Liverpool; I have an opinion on most things and most definitely on Forex matters!!\r\n\r\nLook at the weekly EUR/USD chart below. It shows a “BEAR FLAG” formation pointing to 0.8000. I would say definitely below 1.0950 it’s in play (other traders may say 1.1000 or 1.0960 are the break levels). I do know that should it break higher above 1.1480 the flag pattern is invalidated.\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/07/EURUSD-BLOG-MAIN-PIECE-2.0-05072015-WILL-EURUSD-FALL-NO-MATTER-WHICH-WAY-GREECE-VOTES.png\"><img class=\"aligncenter size-large wp-image-6261\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/07/EURUSD-BLOG-MAIN-PIECE-2.0-05072015-WILL-EURUSD-FALL-NO-MATTER-WHICH-WAY-GREECE-VOTES-1024x541.png\" alt=\"EURUSD BLOG MAIN PIECE 2.0 05072015 WILL EURUSD FALL NO MATTER WHICH WAY GREECE VOTES\" width=\"1024\" height=\"541\" /></a>\r\n\r\nSo last week I wrote that were we at a “CROSSROADS” once again. I’m still standing, as Elton John would say. I want to move off but GREECE is holding me back for now.\r\n\r\nThese are my continued thoughts and frankly regular readers will not see much of a sea change in my thoughts and views.\r\n\r\nIf a “YES” vote is the result from the referendum, In my mind we still have huge uncertainty. This would be a failure on the part of Tsipras and the Syriza party who want a “NO” vote result. Will the government resign? Varoufakis has already stated he walks on a “YES” vote.\r\n\r\nWe then require an interim government until new elections can be held. The banks have no money. GREECE has already defaulted to the IMF. There is no bailout money or temporary funding on the table. There is no ECB ELA funding available to keep the GREEK banks liquid.\r\n\r\nWill the ECB / EUROGROUP and IMF step in to support?\r\n\r\nThere would be huge uncertainty and quite frankly we enter unchartered waters. Even if there was support for GREECE this would be a can-kicking” exercise once again that GREECE cannot afford to repay and nothing would actually be solved resulting in a depressed EUR currency in my eyes as I think that Mario Draghi would be having low rates forever trying to fix the overall EUROZONE economy. He could no longer pander just to GERMANY as it would be seen for what it was, basically a f**k you approach to GREECE.\r\n\r\nThe EUROZONE is meant to be a union and I believe this may be the incident that starts this way of thinking and more importantly behaving. But hey… this is the EUROZONE … common sense is left at the invisible border!!\r\n\r\nA “NO” vote starts my CONTAGION THEORY from a few weeks ago that I keep referring to. A “NO” vote provides Tsipras with the mandate to pull away from the single currency and re-introduce the Drachma.\r\n\r\nWhilst there is no mechanism for a country to exit the single currency, I can imagine as I type there are armies of lawyers in Brussels with fat expense accounts working on this subject.\r\n\r\nA GREXIT causes many other issues not just the GREXIT itself but also the IMF default and places all future monies owed to creditors in doubt. Ignoring the local work to be done in GREECE with banks and the financial markets to establish a footing from which to work off which will be a massive undertaking in itself, the effect on the world markets could be unparalleled.\r\n\r\nThis would create huge uncertainty and frankly the “Who’s Next” debate will gather momentum. It has already started in the local press in SPAIN, PORTUGAL and ITALY.\r\n\r\nIf that was not enough in itself to digest…. The FED want to raise interest rates.\r\n\r\nPOLITICAL INSTABILITY\r\n\r\nMARKETS UNCERTAINTY\r\n\r\nFINANCIAL MARKETS IN EUROPE IN TURMOIL\r\n\r\nTHE CONTAGION EFFECT\r\n\r\nAll of the above in my opinion send the EUR/USD lower…. Add to this Central Bank divergence with the FED raising rates and the ECB probably on low rates to infinity and the BEAR FLAG from the chart above could be on.\r\n\r\nNow I have been talking about my FUNDAMENTAL views for months and the EUR/USD testing parity but now this could be a possibility as the GREECE situation has been allowed to drag on because of a lack of desire to fix the problem head on in my opinion. There have been too many can-kicking exercises over the years from the EUROGROUP and it has resulted in what we have now.\r\n\r\nA massive EUR/USD sell off is a possibility, all the factors are there. Will it happen?\r\n\r\n<strong> </strong><strong> </strong>\r\n<ol start=\"3\">\r\n	<li><strong></strong><strong> THE PREMIUM SERVICE:</strong></li>\r\n</ol>\r\n<strong>SUMMARY OF PERFORMANCE:</strong>\r\n\r\nPREMIUM SERVICE – COST INCOME ANALYSIS (USD):\r\nEMANATING FROM TRADE SET-UPS – to 30<sup>th</sup> June 2015.\r\n\r\nMICRO LOT TRADER - 420 trades cost to trade = $42.00\r\n<strong>PROFIT</strong> from 420 trades = <strong>$599.70</strong>\r\n\r\nMINI LOT TRADER - 420 trades cost to trade = $420.00\r\n<strong>PROFIT</strong> from 420 trades = <strong>$5,997.00</strong>\r\n\r\nSTANDARD LOT TRADER - 420 trades cost to trade = $4,200.00\r\n<strong>PROFIT</strong> from 420 trades = <strong>$59,970.00</strong>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n<ol start=\"4\">\r\n	<li><strong> PREMIUM SERVICE SUBSCRIBER EXCLUSIVE CONTENT:</strong></li>\r\n</ol>\r\n(Section 4 is exclusive PREMIUM SERVICE content only available to PREMIUM SERVICE subscribers)\r\n\r\n4.1: EDUCATION:<u>\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 after the summer break in September 2015.\r\n\r\n&nbsp;\r\n\r\n4.2: THE PREMIUM SERVICE – TRADING REVIEW &amp; LOOKING FORWARD:\r\n\r\nJUNE 2015 REVIEW:\r\n\r\n44 trades were completed last month.\r\n\r\nBelow I have added into the blog the: -\r\n<ul>\r\n	<li>MONTHLY: - RADAR, FLASH and FUNDAMENTAL excel spreadsheets.</li>\r\n	<li>YEAR TO DATE: - RADAR, FLASH and FUNDAMENTAL excel spreadsheets.</li>\r\n	<li>JUNE 2015 and YEAR TO DATE: - RISK –REWARD ANALYSIS.</li>\r\n	<li>JUNE 2015 and YEAR TO DATE: - PROFIT LOSS RATIOS.</li>\r\n	<li>2015 versus 2014 PIP PERFORMANCE ANALYSIS.</li>\r\n	<li>JUNE and YEAR TO DATE: - PREMIUM SERVICE TRADE SUMMARIES.</li>\r\n</ul>\r\nAll of these charts below are also on the website.\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/RADAR1-30062015.png\"><img class=\"aligncenter size-full wp-image-6228\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/RADAR1-30062015.png\" alt=\"RADAR1 30062015\" width=\"544\" height=\"560\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/RADAR2-30062015.png\"><img class=\"aligncenter size-full wp-image-6229\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/RADAR2-30062015.png\" alt=\"RADAR2 30062015\" width=\"554\" height=\"563\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/FLASH1-30062015.png\"><img class=\"aligncenter size-full wp-image-6225\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/FLASH1-30062015.png\" alt=\"FLASH1 30062015\" width=\"502\" height=\"561\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/FLASH2-30062015.png\"><img class=\"aligncenter size-full wp-image-6226\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/FLASH2-30062015.png\" alt=\"FLASH2 30062015\" width=\"515\" height=\"554\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/FUNDAMENTAL-30062015.png\"><img class=\"aligncenter size-full wp-image-6231\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/FUNDAMENTAL-30062015.png\" alt=\"FUNDAMENTAL 30062015\" width=\"507\" height=\"564\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/RADAR-YTD062015.png\"><img class=\"aligncenter size-full wp-image-6230\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/RADAR-YTD062015.png\" alt=\"RADAR YTD062015\" width=\"354\" height=\"380\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/FLASH-YTD062015.png\"><img class=\"aligncenter size-full wp-image-6227\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/FLASH-YTD062015.png\" alt=\"FLASH YTD062015\" width=\"349\" height=\"363\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/FUNDAMENTAL-YTD062015.png\"><img class=\"aligncenter size-full wp-image-6232\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/FUNDAMENTAL-YTD062015.png\" alt=\"FUNDAMENTAL YTD062015\" width=\"350\" height=\"399\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/RISK-REWARD-JUNE-2015.png\"><img class=\"aligncenter size-full wp-image-6234\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/RISK-REWARD-JUNE-2015.png\" alt=\"RISK-REWARD JUNE 2015\" width=\"425\" height=\"541\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/PS-PROFIT-LOSS-JUNE-2015.png\"><img class=\"aligncenter size-full wp-image-6233\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/PS-PROFIT-LOSS-JUNE-2015.png\" alt=\"PS PROFIT-LOSS JUNE 2015\" width=\"416\" height=\"582\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/PIP-COMPARISON-2015-2014.png\"><img class=\"aligncenter size-full wp-image-6235\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/PIP-COMPARISON-2015-2014.png\" alt=\"PIP COMPARISON 2015-2014\" width=\"626\" height=\"543\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/PS-PROFITS1-JUNE-2015.png\"><img class=\"aligncenter size-full wp-image-6223\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/PS-PROFITS1-JUNE-2015.png\" alt=\"PS PROFITS1 JUNE 2015\" width=\"460\" height=\"427\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/PS-PROFITS2-JUNE2015.png\"><img class=\"aligncenter size-full wp-image-6224\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/PS-PROFITS2-JUNE2015.png\" alt=\"PS PROFITS2 JUNE2015\" width=\"460\" height=\"420\" /></a>\r\n\r\n&nbsp;\r\n\r\nAs I mentioned throughout last month I traded lighter in view of geopolitical news events. This resulted in more FLASH TRADES being taken with me trying to take advantage of mostly market momentum moves. As discussed previously, I tried my best at times to let trades run but as noted on several occasions I gave back hundreds of pips to my brokers, as basically June was a day trader’s month. In fact it was not even a day trade market most of the time, it really was probably 75% of the time a scalper’s marketplace.\r\n\r\nA total of 655 pips profit was generated in June, which were 20 pips more than June last year. Year to date 2015 is 1,490 pips ahead of 2014. The grand total year to date so far is 5,997 pips.\r\n\r\nProfit / Loss ratio’s are still below what I am happy with at 68% profitable trades and 32% loss making trades in June. Year to date, the ratio is 71% versus 29%. My target is 75% - 25%.\r\n\r\nLooking ahead, I am hoping that following some sort of resolution with GREECE, which could be further away than originally thought, my TRADING PLAN should trigger some nice pip moves. As mentioned on so many occasions I am trying to exercise patience to wait for these moves to set up properly.\r\n\r\nTo date I have two FUNDAMENTAL TRADES in place with the NZD/USD and USD/CAD. I am hoping that not too far away about 5/6 others can be added.\r\n\r\n&nbsp;\r\n\r\n4.3: THE PREMIUM SERVICE - EXISTING LIVE TRADES:\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/07/PS-LIVE-TRADES-05072015.png\"><img class=\"aligncenter size-full wp-image-6246\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/07/PS-LIVE-TRADES-05072015.png\" alt=\"PS LIVE TRADES 05072015\" width=\"720\" height=\"576\" /></a>\r\n\r\n4.4: THE PREMIUM SERVICE – EXISTING LIMIT ORDERS:\r\n\r\n(Remember 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&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/07/PS-LIMIT-ORDERS-05072015.png\"><img class=\"aligncenter size-full wp-image-6245\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/07/PS-LIMIT-ORDERS-05072015.png\" alt=\"PS LIMIT ORDERS 05072015\" width=\"702\" height=\"460\" /></a>\r\n\r\n&nbsp;\r\n\r\n4.5: ARMEGEDDON “GOLDEN” TRADES:\r\n\r\n(Emanating from conversations and requested by fellow subscribers these trade set-ups are based on severe market pullbacks, breakouts or breakdowns. These trades would apply after major geopolitical news has hit the news wires. These are also trade levels that provided great set ups in the past that would hopefully represent great entry opportunities again in the future).\r\n\r\nGOLDEN TRADE #004\r\nGBP/CHF:\r\nEnter long at 1.4000\r\n\r\nMy comments are contained on the chart.\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/07/004-ARMEGEDDON-TRADE-GBPCHF-WEEKLY-05072015.png\"><img class=\"aligncenter size-large wp-image-6249\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/07/004-ARMEGEDDON-TRADE-GBPCHF-WEEKLY-05072015-1024x541.png\" alt=\"#004 ARMEGEDDON TRADE GBPCHF WEEKLY 05072015\" width=\"1024\" height=\"541\" /></a>\r\n\r\n&nbsp;\r\n\r\n4.6: POTENTIAL TRADES - WHAT CHARTS AM I LOOKING AT?\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\nTHIS WEEKS OVERVIEW:\r\n\r\nVery similar to last week, I am being selective on charts that interest me from a trading perspective. This week only three charts are attracting my interest: - EUR/CAD, GBP/CAD and EUR/GBP. My comments for each pair are contained on the charts.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/07/EURCAD-DAILY-05072015.png\"><img class=\"aligncenter size-large wp-image-6259\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/07/EURCAD-DAILY-05072015-1024x541.png\" alt=\"EURCAD DAILY 05072015\" width=\"1024\" height=\"541\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/07/EURGBP-DAILY-05072015.png\"><img class=\"aligncenter size-large wp-image-6258\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/07/EURGBP-DAILY-05072015-1024x541.png\" alt=\"EURGBP DAILY 05072015\" width=\"1024\" height=\"541\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/07/GBPCAD-MONTHLY-05072015.png\"><img class=\"aligncenter size-large wp-image-6257\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/07/GBPCAD-MONTHLY-05072015-1024x541.png\" alt=\"GBPCAD MONTHLY 05072015\" width=\"1024\" height=\"541\" /></a>\r\n\r\n&nbsp;\r\n\r\n4.7: MAJOR TRADING PAIRS WITH LONGER-TERM MATCHING TRENDS:\r\n\r\n(The following currency pairs have Short Term (DAILY), Medium Term (WEEKLY) and Long Term (MONTHLY) charts all trending in the same direction).\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/07/PS-TRENDING-PAIRS-05072015.png\"><img class=\"aligncenter size-full wp-image-6247\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/07/PS-TRENDING-PAIRS-05072015.png\" alt=\"PS TRENDING PAIRS 05072015\" width=\"405\" height=\"522\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n4.8: THE KEY SUPPORT &amp; RESISTANCE LEVELS WITH THE USD MAJORS<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\nAll of my thoughts and my comments relating to each USD major are now contained on the charts.\r\n\r\n&nbsp;\r\n\r\n<strong>EUR/USD: Closing Price 1.1106</strong>\r\n\r\n<strong> <a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/07/EURUSD-W-05072015.png\"><img class=\"aligncenter size-large wp-image-6255\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/07/EURUSD-W-05072015-1024x541.png\" alt=\"EURUSD W 05072015\" width=\"1024\" height=\"541\" /></a></strong>\r\n\r\n<strong> </strong>\r\n\r\n<strong> </strong>\r\n\r\n<strong>GBP/USD: Closing Price 1.5549</strong>\r\n\r\n<strong> <a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/07/GBPUSD-W-05072015.png\"><img class=\"aligncenter size-large wp-image-6254\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/07/GBPUSD-W-05072015-1024x541.png\" alt=\"GBPUSD W 05072015\" width=\"1024\" height=\"541\" /></a></strong>\r\n\r\n<strong> </strong>\r\n\r\n<strong> </strong>\r\n\r\n<strong>AUD/USD: Closing Price 0.7498</strong>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/07/AUDUSD-W-05072015.png\"><img class=\"aligncenter size-large wp-image-6256\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/07/AUDUSD-W-05072015-1024x541.png\" alt=\"AUDUSD W 05072015\" width=\"1024\" height=\"541\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n<strong>NZD/USD: Closing Price 0.6665</strong>\r\n\r\n<strong> <a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/07/NZDUSD-W-05072015.png\"><img class=\"aligncenter size-large wp-image-6253\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/07/NZDUSD-W-05072015-1024x541.png\" alt=\"NZDUSD W 05072015\" width=\"1024\" height=\"541\" /></a></strong>\r\n\r\n<strong> </strong>\r\n\r\n<strong> </strong>\r\n\r\n<strong>USD/CAD: Closing Price 1.2561</strong>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/07/USDCAD-W-05072015.png\"><img class=\"aligncenter size-large wp-image-6252\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/07/USDCAD-W-05072015-1024x541.png\" alt=\"USDCAD W 05072015\" width=\"1024\" height=\"541\" /></a>\r\n\r\n&nbsp;\r\n\r\n<strong>USD/CHF: Closing Price 0.9391</strong>\r\n\r\n<strong> <a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/07/USDCHF-W-05072015.png\"><img class=\"aligncenter size-large wp-image-6251\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/07/USDCHF-W-05072015-1024x541.png\" alt=\"USDCHF W 05072015\" width=\"1024\" height=\"541\" /></a></strong>\r\n\r\n<strong> </strong>\r\n\r\n<strong> </strong>\r\n\r\n<strong>USD/JPY: Closing Price 122.66</strong>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/07/USDJPY-W-05-072015.png\"><img class=\"aligncenter size-large wp-image-6250\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/07/USDJPY-W-05-072015-1024x541.png\" alt=\"USDJPY W 05-072015\" width=\"1024\" height=\"541\" /></a>\r\n\r\n&nbsp;\r\n<ol start=\"5\">\r\n	<li><strong> MY FINAL THOUGHTS:</strong></li>\r\n</ol>\r\n5.2: TRADING TIPS &amp; THOUGHTS FOR THE WEEK AHEAD:\r\n\r\nThis may be the time if you are relatively new to trading to maybe hold back a little, maybe not even trade at all into the GREECE news. Mainly, I would avoid the main European currencies EUR, GBP and CHF.\r\n\r\nThere is always a risk with Forex but trading non-European based currencies should be a little less risky than say the EUR.\r\n\r\nI intend to remain light into the middle of the week depending upon the GREECE referendum outcome and fallout.\r\n\r\nAs always, with high-risk news on the imminent horizon it is now in my mind, even more important to stick to core trading principles.\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\n\r\nEMAIL / FOLLOW ME AT:\r\npremiumservice@weeklyfxdrivethru.com\r\nhttp://www.twitter.com/pipaccumulator\r\nhttp://www.twitter.com/ThePremService\r\nhttp://www.google.com/+ScottPickering\r\nhttp://www.youtube.com/c/ScottPickering\r\nhttp://www.thepipaccumulator.tumblr.com\r\nhttp://www.stocktwits.com/thepipaccumulator\r\n\r\nBLOG DATA:\r\nDATE: 05.07.2015\r\nBLOG FORMAT/ VERSION / AUDIENCE: THE PREMIUM SERVICE\r\nBLOG REFERERENCE: #67\r\n\r\nVIEWS AND COMMENTS IN THIS BLOG:\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\nTHIRD PARTY COMPANIES WITH BANNERS ON MY WEBSITE:\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\nTRADING &amp; PERFORMANCES DISCLAIMER:\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.','WILL THE EUR/USD FALL NO MATTER WHICH WAY GREECE VOTES?','','inherit','open','closed','','6260-revision-v1','','','2015-07-04 10:10:38','2015-07-04 15:10:38','',6260,'https://weeklyfxdrivethru.com/6260-revision-v1/',0,'revision','',0),(6263,1,'2015-07-04 10:15:30','2015-07-04 15:15:30','<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&nbsp;\r\n<ol>\r\n	<li><strong> INTRODUCTION – THE VIEW FROM MY TRADE DESK:</strong></li>\r\n</ol>\r\nLOOKING BACKWARDS, FORWARDS &amp; SIDEWAYS (FOR GOOD MEASURE) AT THE FX MARKET:\r\n\r\n1.1: LOOKING BACKWARDS:\r\n\r\nI would say that when Tsipras and Varoufakis walked out of the EUROGROUP meeting last week and announced that they would ask the population of GREECE to decide, that must have taken the wind out of the sails of Merkel, Dijsselbloem and the rest of the EUROGROUP around the table.\r\n\r\nI have read soooooo many articles this week I think I have further strained my eyes and need to update my reading glasses. A referendum, never appeared anywhere on the stuff I read, and, frankly this will be seen in the future as either a stroke of genius on his part for whatever his plans are moving forward or as something rather foolish akin to a turkey voting for Christmas. Nevertheless, unless I do not know about it, time travel has still not been invented and therefore you cannot go back in time and re-write history to eradicate poor decisions.\r\n\r\nOn the 5<sup>th</sup> July 2015, we have a vote in GREECE “OXI or NAI”. I am not really sure how this can be a vote on the EUROGROUP package that Tsipras walked away from, it is my understanding that those terms and conditions are no longer applicable and were withdrawn the moment Tsipras left the table. So much is miss-quoted, so much of what is on the news wires are selected words from a press release without the context in place, plus it is very difficult to keep track of the timeline of events. All I know is that the finger-pointing is well underway… politicians are good at this… “the blame game”.\r\n\r\nSo in my opinion most GREEKS will read the vote as a simple referendum on keeping the single-currency, as all deals are now off. It is a vote on the Syriza party government and Tsipras as prime minister.\r\n\r\nThe big question is of course: Is anyone expecting a “NO” vote result? It looks close, but whatever the vote we will have confusion in abundance.\r\n\r\nWithout any doubt Tsipras has placed what can only be termed as a noose around his neck by calling this referendum. Whatever the result, there will be confusion. No deal is actually on the table from the creditors to vote on, so what does that mean, back to negotiations? A “NO” vote means exit from the single currency but the EUROZONE has no mechanism as far as I know to do this.\r\n\r\nHappy times, fun days of trading this week looks to be on cards.\r\n\r\nI would suggest you position size very carefully to manage RISK and potential exposure or just exit trades to watch. I expect some volatility to take place in the Forex market.\r\n\r\nThe other major news in my eyes last week was Non-Farm payrolls in the U.S. Not brilliant numbers by all accounts and not the blow out numbers expected. As usual CNBC and BLOOMBERG rolled out the usual suspects to debate the influence of these numbers on the timing of the FED rate hike later this year and the potential number of rate increases. I must admit I am getting bored about writing about the FED rate hike, but not a bored as these presenters on TV trying to make news…\r\n\r\nIn my opinion, the FED will just not look at one month in isolation. U.S. data is not 100% brilliant and Janet Yellen has been consistent all along stating that future rate increases are based upon data dependency showing strength. To be frank, I feel that the FED credibility overrides this and she will raise rates in September / October no matter what. If she waits until December as some analysts state this will be the calendar version of “the last chance saloon” / lastminute.com and this will be seen for what it is - desperation to ensure credibility, this is why I think the fall is when the hike will occur and this keeps the FED credibility intact. Remember the “DOTS” from the last FOMC meeting; most of the FOMC committee members had two rate increases in mind for this year.\r\n\r\nApart from GREECE and NFP I traded very lightly last week in keeping with my plan until GREECE is resolved for the short-term at least.\r\n\r\nI think GREECE will not even be fixed in my lifetime, and whilst this is my own opinion, I think that the self-serving politicians from both sides of the divide past and present that have been involved in this farce of a solution should be ashamed of themselves. To see senior citizens lining up outside a bank to withdraw €100 or so to live on, is a bloody disgrace, this is 2015 not 1915.\r\n\r\nGREECE has a lot to answer for, with regards to the existing position, but the can kicking EUROZONE politicians are certainly not free from guilt and the IMF should be above all this and be able to see that GREECE simply could not afford to repay from day one.\r\n\r\nIt is shambolic at best and it is far from over yet. I have seen better-organized chickens running around a farmyard with their heads chopped off.\r\n\r\n&nbsp;\r\n\r\n1.2: LOOKING FORWARDS:\r\n\r\nMAJOR FOREX NEWS THIS WEEK THAT INTERESTS ME:\r\n\r\n(There are many more news items related to the Forex Market than the ones listed below. These are the ones that interest me. You can go to <a href=\"http://www.forexfactory.com\">www.forexfactory.com</a> and <a href=\"http://www.tradingeconomics.com\">www.tradingeconomics.com</a> for more comprehensive lists of all news events that are Forex related).\r\nSUNDAY: EUR – Greek Referendum.\r\n\r\nMONDAY: CAD – Ivey PMi.\r\nMONDAY: NZD – NZIER Business Confidence.\r\n\r\nTUESDAY: AUD – RBA Rate Statement.\r\n\r\nWEDNESDAY: USD – FOMC Meeting Minutes.\r\nWEDNESDAY: AUD – Employment Data\r\nWEDNESDAY: CNY – CPi.\r\n\r\nTHURSDAY: GBP – BOE Rate Statement.\r\n\r\nFRIDAY: CAD – Employment Rate.\r\n\r\nObviously GREECE will dominate the news. It may be an economy the size of Colorado in the U.S. but its much more important from a contagion viewpoint amongst other well documented reasons.\r\n\r\nAs subscribers will know the news involving the CAD this week will be of particular interest given my longer-term views on this currency.\r\n\r\nThe AUD and NZD currencies play a major part in my 2015 trade plan (see prior blogs) and we have key Aussie data this week. I feel that we may see another cut from the RBA so do not be surprised for pandemonium to ensue as the BOC and RBNZ (already under pressure) will come into focus. All good news for me and traders that subscribe and follow my trades. Happy Days!!\r\n\r\n&nbsp;\r\n\r\n1.3: LOOKING SIDEWAYS (FOR GOOD MEASURE):\r\n\r\nI think at the moment as traders we need to be very clever and size trades smaller than usual; I am expecting wild swings and then an ultimate direction following the immediate GREECE news, we need to be ready.\r\n\r\nLongevity as I write every week in this blog is paramount to success and you only have longevity through effective RISK and MONEY MANAGEMENT with properly sized trades in line with the risk associated with the size of your trading account.\r\n\r\nAfter 8 years of this, let me tell you this coming week accounts will get blown out, if caution and common sense is NOT applied.\r\n\r\nWe all want to make money but this is not a sprint it\'s a marathon. If you want to gamble find a casino.\r\n\r\nThe best trade coming up over the next few sessions may be no trade at all. At least then you will not be positioned poorly.\r\n\r\nThink long and hard about what type of trader you are and what your goals are for the medium and long term. There is a Forex market every day, so to miss a couple of days is not that big of an issue.\r\n\r\n&nbsp;\r\n<ol start=\"2\">\r\n	<li><strong> WHAT’S ON MY MIND: -\r\nTHE FUNDAMENTAL TRADERS OVERVIEW:</strong></li>\r\n</ol>\r\n<h3 style=\"text-align: center;\"><strong>WILL THE EUR/USD FALL NO MATTER WHICH WAY GREECE VOTES?</strong></h3>\r\nAnother week has passed and we have entered what appears to be a void similar to something from a sci-fi movie or an episode from Star Trek.\r\n\r\nWe are on hold, almost like suspended animation. However we are surrounded by things happening with regards to the Forex market based on pure speculation about something no one has a clue about. We don\'t know what the outcome will be or what affect it is going to have.\r\n\r\nIf you think that’s going to stop me having an opinion…think again!! Remember, I am originally from Liverpool; I have an opinion on most things and most definitely on Forex matters!!\r\n\r\nLook at the weekly EUR/USD chart below. It shows a “BEAR FLAG” formation pointing to 0.8000. I would say definitely below 1.0950 it’s in play (other traders may say 1.1000 or 1.0960 are the break levels). I do know that should it break higher above 1.1480 the flag pattern is invalidated.\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/07/EURUSD-BLOG-MAIN-PIECE-2.0-05072015-WILL-EURUSD-FALL-NO-MATTER-WHICH-WAY-GREECE-VOTES.png\"><img class=\"aligncenter size-large wp-image-6261\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/07/EURUSD-BLOG-MAIN-PIECE-2.0-05072015-WILL-EURUSD-FALL-NO-MATTER-WHICH-WAY-GREECE-VOTES-1024x541.png\" alt=\"EURUSD BLOG MAIN PIECE 2.0 05072015 WILL EURUSD FALL NO MATTER WHICH WAY GREECE VOTES\" width=\"1024\" height=\"541\" /></a>\r\n\r\nSo last week I wrote that were we at a “CROSSROADS” once again. I’m still standing, as Elton John would say. I want to move off but GREECE is holding me back for now.\r\n\r\nThese are my continued thoughts and frankly regular readers will not see much of a sea change in my thoughts and views.\r\n\r\nIf a “YES” vote is the result from the referendum, In my mind we still have huge uncertainty. This would be a failure on the part of Tsipras and the Syriza party who want a “NO” vote result. Will the government resign? Varoufakis has already stated he walks on a “YES” vote.\r\n\r\nWe then require an interim government until new elections can be held. The banks have no money. GREECE has already defaulted to the IMF. There is no bailout money or temporary funding on the table. There is no ECB ELA funding available to keep the GREEK banks liquid.\r\n\r\nWill the ECB / EUROGROUP and IMF step in to support?\r\n\r\nThere would be huge uncertainty and quite frankly we enter unchartered waters. Even if there was support for GREECE this would be a can-kicking” exercise once again that GREECE cannot afford to repay and nothing would actually be solved resulting in a depressed EUR currency in my eyes as I think that Mario Draghi would be having low rates forever trying to fix the overall EUROZONE economy. He could no longer pander just to GERMANY as it would be seen for what it was, basically a f**k you approach to GREECE.\r\n\r\nThe EUROZONE is meant to be a union and I believe this may be the incident that starts this way of thinking and more importantly behaving. But hey… this is the EUROZONE … common sense is left at the invisible border!!\r\n\r\nA “NO” vote starts my CONTAGION THEORY from a few weeks ago that I keep referring to. A “NO” vote provides Tsipras with the mandate to pull away from the single currency and re-introduce the Drachma.\r\n\r\nWhilst there is no mechanism for a country to exit the single currency, I can imagine as I type there are armies of lawyers in Brussels with fat expense accounts working on this subject.\r\n\r\nA GREXIT causes many other issues not just the GREXIT itself but also the IMF default and places all future monies owed to creditors in doubt. Ignoring the local work to be done in GREECE with banks and the financial markets to establish a footing from which to work off which will be a massive undertaking in itself, the effect on the world markets could be unparalleled.\r\n\r\nThis would create huge uncertainty and frankly the “Who’s Next” debate will gather momentum. It has already started in the local press in SPAIN, PORTUGAL and ITALY.\r\n\r\nIf that was not enough in itself to digest…. The FED want to raise interest rates.\r\n\r\nPOLITICAL INSTABILITY\r\n\r\nMARKETS UNCERTAINTY\r\n\r\nFINANCIAL MARKETS IN EUROPE IN TURMOIL\r\n\r\nTHE CONTAGION EFFECT\r\n\r\nAll of the above in my opinion send the EUR/USD lower…. Add to this Central Bank divergence with the FED raising rates and the ECB probably on low rates to infinity and the BEAR FLAG from the chart above could be on.\r\n\r\nNow I have been talking about my FUNDAMENTAL views for months and the EUR/USD testing parity but now this could be a possibility as the GREECE situation has been allowed to drag on because of a lack of desire to fix the problem head on in my opinion. There have been too many can-kicking exercises over the years from the EUROGROUP and it has resulted in what we have now.\r\n\r\nA massive EUR/USD sell off is a possibility, all the factors are there. Will it happen?\r\n\r\n<strong> </strong><strong> </strong>\r\n<ol start=\"3\">\r\n	<li><strong> THE PREMIUM SERVICE:</strong></li>\r\n</ol>\r\n<strong>SUMMARY OF PERFORMANCE:</strong>\r\n\r\nPREMIUM SERVICE – COST INCOME ANALYSIS (USD):\r\nEMANATING FROM TRADE SET-UPS – to 30<sup>th</sup> June 2015.\r\n\r\nMICRO LOT TRADER - 420 trades cost to trade = $42.00\r\n<strong>PROFIT</strong> from 420 trades = <strong>$599.70</strong>\r\n\r\nMINI LOT TRADER - 420 trades cost to trade = $420.00\r\n<strong>PROFIT</strong> from 420 trades = <strong>$5,997.00</strong>\r\n\r\nSTANDARD LOT TRADER - 420 trades cost to trade = $4,200.00\r\n<strong>PROFIT</strong> from 420 trades = <strong>$59,970.00</strong>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n<ol start=\"4\">\r\n	<li><strong> PREMIUM SERVICE SUBSCRIBER EXCLUSIVE CONTENT:</strong></li>\r\n</ol>\r\n(Section 4 is exclusive PREMIUM SERVICE content only available to PREMIUM SERVICE subscribers)\r\n\r\n4.1: EDUCATION:<u>\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 after the summer break in September 2015.\r\n\r\n&nbsp;\r\n\r\n4.2: THE PREMIUM SERVICE – TRADING REVIEW &amp; LOOKING FORWARD:\r\n\r\nJUNE 2015 REVIEW:\r\n\r\n44 trades were completed last month.\r\n\r\nBelow I have added into the blog the: -\r\n<ul>\r\n	<li>MONTHLY: - RADAR, FLASH and FUNDAMENTAL excel spreadsheets.</li>\r\n	<li>YEAR TO DATE: - RADAR, FLASH and FUNDAMENTAL excel spreadsheets.</li>\r\n	<li>JUNE 2015 and YEAR TO DATE: - RISK –REWARD ANALYSIS.</li>\r\n	<li>JUNE 2015 and YEAR TO DATE: - PROFIT LOSS RATIOS.</li>\r\n	<li>2015 versus 2014 PIP PERFORMANCE ANALYSIS.</li>\r\n	<li>JUNE and YEAR TO DATE: - PREMIUM SERVICE TRADE SUMMARIES.</li>\r\n</ul>\r\nAll of these charts below are also on the website.\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/RADAR1-30062015.png\"><img class=\"aligncenter size-full wp-image-6228\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/RADAR1-30062015.png\" alt=\"RADAR1 30062015\" width=\"544\" height=\"560\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/RADAR2-30062015.png\"><img class=\"aligncenter size-full wp-image-6229\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/RADAR2-30062015.png\" alt=\"RADAR2 30062015\" width=\"554\" height=\"563\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/FLASH1-30062015.png\"><img class=\"aligncenter size-full wp-image-6225\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/FLASH1-30062015.png\" alt=\"FLASH1 30062015\" width=\"502\" height=\"561\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/FLASH2-30062015.png\"><img class=\"aligncenter size-full wp-image-6226\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/FLASH2-30062015.png\" alt=\"FLASH2 30062015\" width=\"515\" height=\"554\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/FUNDAMENTAL-30062015.png\"><img class=\"aligncenter size-full wp-image-6231\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/FUNDAMENTAL-30062015.png\" alt=\"FUNDAMENTAL 30062015\" width=\"507\" height=\"564\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/RADAR-YTD062015.png\"><img class=\"aligncenter size-full wp-image-6230\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/RADAR-YTD062015.png\" alt=\"RADAR YTD062015\" width=\"354\" height=\"380\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/FLASH-YTD062015.png\"><img class=\"aligncenter size-full wp-image-6227\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/FLASH-YTD062015.png\" alt=\"FLASH YTD062015\" width=\"349\" height=\"363\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/FUNDAMENTAL-YTD062015.png\"><img class=\"aligncenter size-full wp-image-6232\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/FUNDAMENTAL-YTD062015.png\" alt=\"FUNDAMENTAL YTD062015\" width=\"350\" height=\"399\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/RISK-REWARD-JUNE-2015.png\"><img class=\"aligncenter size-full wp-image-6234\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/RISK-REWARD-JUNE-2015.png\" alt=\"RISK-REWARD JUNE 2015\" width=\"425\" height=\"541\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/PS-PROFIT-LOSS-JUNE-2015.png\"><img class=\"aligncenter size-full wp-image-6233\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/PS-PROFIT-LOSS-JUNE-2015.png\" alt=\"PS PROFIT-LOSS JUNE 2015\" width=\"416\" height=\"582\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/PIP-COMPARISON-2015-2014.png\"><img class=\"aligncenter size-full wp-image-6235\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/PIP-COMPARISON-2015-2014.png\" alt=\"PIP COMPARISON 2015-2014\" width=\"626\" height=\"543\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/PS-PROFITS1-JUNE-2015.png\"><img class=\"aligncenter size-full wp-image-6223\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/PS-PROFITS1-JUNE-2015.png\" alt=\"PS PROFITS1 JUNE 2015\" width=\"460\" height=\"427\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/PS-PROFITS2-JUNE2015.png\"><img class=\"aligncenter size-full wp-image-6224\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/PS-PROFITS2-JUNE2015.png\" alt=\"PS PROFITS2 JUNE2015\" width=\"460\" height=\"420\" /></a>\r\n\r\n&nbsp;\r\n\r\nAs I mentioned throughout last month I traded lighter in view of geopolitical news events. This resulted in more FLASH TRADES being taken with me trying to take advantage of mostly market momentum moves. As discussed previously, I tried my best at times to let trades run but as noted on several occasions I gave back hundreds of pips to my brokers, as basically June was a day trader’s month. In fact it was not even a day trade market most of the time, it really was probably 75% of the time a scalper’s marketplace.\r\n\r\nA total of 655 pips profit was generated in June, which were 20 pips more than June last year. Year to date 2015 is 1,490 pips ahead of 2014. The grand total year to date so far is 5,997 pips.\r\n\r\nProfit / Loss ratio’s are still below what I am happy with at 68% profitable trades and 32% loss making trades in June. Year to date, the ratio is 71% versus 29%. My target is 75% - 25%.\r\n\r\nLooking ahead, I am hoping that following some sort of resolution with GREECE, which could be further away than originally thought, my TRADING PLAN should trigger some nice pip moves. As mentioned on so many occasions I am trying to exercise patience to wait for these moves to set up properly.\r\n\r\nTo date I have two FUNDAMENTAL TRADES in place with the NZD/USD and USD/CAD. I am hoping that not too far away about 5/6 others can be added.\r\n\r\n&nbsp;\r\n\r\n4.3: THE PREMIUM SERVICE - EXISTING LIVE TRADES:\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/07/PS-LIVE-TRADES-05072015.png\"><img class=\"aligncenter size-full wp-image-6246\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/07/PS-LIVE-TRADES-05072015.png\" alt=\"PS LIVE TRADES 05072015\" width=\"720\" height=\"576\" /></a>\r\n\r\n4.4: THE PREMIUM SERVICE – EXISTING LIMIT ORDERS:\r\n\r\n(Remember 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&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/07/PS-LIMIT-ORDERS-05072015.png\"><img class=\"aligncenter size-full wp-image-6245\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/07/PS-LIMIT-ORDERS-05072015.png\" alt=\"PS LIMIT ORDERS 05072015\" width=\"702\" height=\"460\" /></a>\r\n\r\n&nbsp;\r\n\r\n4.5: ARMEGEDDON “GOLDEN” TRADES:\r\n\r\n(Emanating from conversations and requested by fellow subscribers these trade set-ups are based on severe market pullbacks, breakouts or breakdowns. These trades would apply after major geopolitical news has hit the news wires. These are also trade levels that provided great set ups in the past that would hopefully represent great entry opportunities again in the future).\r\n\r\nGOLDEN TRADE #004\r\nGBP/CHF:\r\nEnter long at 1.4000\r\n\r\nMy comments are contained on the chart.\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/07/004-ARMEGEDDON-TRADE-GBPCHF-WEEKLY-05072015.png\"><img class=\"aligncenter size-large wp-image-6249\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/07/004-ARMEGEDDON-TRADE-GBPCHF-WEEKLY-05072015-1024x541.png\" alt=\"#004 ARMEGEDDON TRADE GBPCHF WEEKLY 05072015\" width=\"1024\" height=\"541\" /></a>\r\n\r\n&nbsp;\r\n\r\n4.6: POTENTIAL TRADES - WHAT CHARTS AM I LOOKING AT?\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\nTHIS WEEKS OVERVIEW:\r\n\r\nVery similar to last week, I am being selective on charts that interest me from a trading perspective. This week only three charts are attracting my interest: - EUR/CAD, GBP/CAD and EUR/GBP. My comments for each pair are contained on the charts.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/07/EURCAD-DAILY-05072015.png\"><img class=\"aligncenter size-large wp-image-6259\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/07/EURCAD-DAILY-05072015-1024x541.png\" alt=\"EURCAD DAILY 05072015\" width=\"1024\" height=\"541\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/07/EURGBP-DAILY-05072015.png\"><img class=\"aligncenter size-large wp-image-6258\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/07/EURGBP-DAILY-05072015-1024x541.png\" alt=\"EURGBP DAILY 05072015\" width=\"1024\" height=\"541\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/07/GBPCAD-MONTHLY-05072015.png\"><img class=\"aligncenter size-large wp-image-6257\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/07/GBPCAD-MONTHLY-05072015-1024x541.png\" alt=\"GBPCAD MONTHLY 05072015\" width=\"1024\" height=\"541\" /></a>\r\n\r\n&nbsp;\r\n\r\n4.7: MAJOR TRADING PAIRS WITH LONGER-TERM MATCHING TRENDS:\r\n\r\n(The following currency pairs have Short Term (DAILY), Medium Term (WEEKLY) and Long Term (MONTHLY) charts all trending in the same direction).\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/07/PS-TRENDING-PAIRS-05072015.png\"><img class=\"aligncenter size-full wp-image-6247\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/07/PS-TRENDING-PAIRS-05072015.png\" alt=\"PS TRENDING PAIRS 05072015\" width=\"405\" height=\"522\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n4.8: THE KEY SUPPORT &amp; RESISTANCE LEVELS WITH THE USD MAJORS<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\nAll of my thoughts and my comments relating to each USD major are now contained on the charts.\r\n\r\n&nbsp;\r\n\r\n<strong>EUR/USD: Closing Price 1.1106</strong>\r\n\r\n<strong> <a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/07/EURUSD-W-05072015.png\"><img class=\"aligncenter size-large wp-image-6255\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/07/EURUSD-W-05072015-1024x541.png\" alt=\"EURUSD W 05072015\" width=\"1024\" height=\"541\" /></a></strong>\r\n\r\n<strong> </strong>\r\n\r\n<strong> </strong>\r\n\r\n<strong>GBP/USD: Closing Price 1.5549</strong>\r\n\r\n<strong> <a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/07/GBPUSD-W-05072015.png\"><img class=\"aligncenter size-large wp-image-6254\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/07/GBPUSD-W-05072015-1024x541.png\" alt=\"GBPUSD W 05072015\" width=\"1024\" height=\"541\" /></a></strong>\r\n\r\n<strong> </strong>\r\n\r\n<strong> </strong>\r\n\r\n<strong>AUD/USD: Closing Price 0.7498</strong>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/07/AUDUSD-W-05072015.png\"><img class=\"aligncenter size-large wp-image-6256\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/07/AUDUSD-W-05072015-1024x541.png\" alt=\"AUDUSD W 05072015\" width=\"1024\" height=\"541\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n<strong>NZD/USD: Closing Price 0.6665</strong>\r\n\r\n<strong> <a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/07/NZDUSD-W-05072015.png\"><img class=\"aligncenter size-large wp-image-6253\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/07/NZDUSD-W-05072015-1024x541.png\" alt=\"NZDUSD W 05072015\" width=\"1024\" height=\"541\" /></a></strong>\r\n\r\n<strong> </strong>\r\n\r\n<strong> </strong>\r\n\r\n<strong>USD/CAD: Closing Price 1.2561</strong>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/07/USDCAD-W-05072015.png\"><img class=\"aligncenter size-large wp-image-6252\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/07/USDCAD-W-05072015-1024x541.png\" alt=\"USDCAD W 05072015\" width=\"1024\" height=\"541\" /></a>\r\n\r\n&nbsp;\r\n\r\n<strong>USD/CHF: Closing Price 0.9391</strong>\r\n\r\n<strong> <a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/07/USDCHF-W-05072015.png\"><img class=\"aligncenter size-large wp-image-6251\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/07/USDCHF-W-05072015-1024x541.png\" alt=\"USDCHF W 05072015\" width=\"1024\" height=\"541\" /></a></strong>\r\n\r\n<strong> </strong>\r\n\r\n<strong> </strong>\r\n\r\n<strong>USD/JPY: Closing Price 122.66</strong>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/07/USDJPY-W-05-072015.png\"><img class=\"aligncenter size-large wp-image-6250\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/07/USDJPY-W-05-072015-1024x541.png\" alt=\"USDJPY W 05-072015\" width=\"1024\" height=\"541\" /></a>\r\n\r\n&nbsp;\r\n<ol start=\"5\">\r\n	<li><strong> MY FINAL THOUGHTS:</strong></li>\r\n</ol>\r\n5.2: TRADING TIPS &amp; THOUGHTS FOR THE WEEK AHEAD:\r\n\r\nThis may be the time if you are relatively new to trading to maybe hold back a little, maybe not even trade at all into the GREECE news. Mainly, I would avoid the main European currencies EUR, GBP and CHF.\r\n\r\nThere is always a risk with Forex but trading non-European based currencies should be a little less risky than say the EUR.\r\n\r\nI intend to remain light into the middle of the week depending upon the GREECE referendum outcome and fallout.\r\n\r\nAs always, with high-risk news on the imminent horizon it is now in my mind, even more important to stick to core trading principles.\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\n\r\nEMAIL / FOLLOW ME AT:\r\npremiumservice@weeklyfxdrivethru.com\r\nhttp://www.twitter.com/pipaccumulator\r\nhttp://www.twitter.com/ThePremService\r\nhttp://www.google.com/+ScottPickering\r\nhttp://www.youtube.com/c/ScottPickering\r\nhttp://www.thepipaccumulator.tumblr.com\r\nhttp://www.stocktwits.com/thepipaccumulator\r\n\r\nBLOG DATA:\r\nDATE: 05.07.2015\r\nBLOG FORMAT/ VERSION / AUDIENCE: THE PREMIUM SERVICE\r\nBLOG REFERENCE: #67\r\n\r\nVIEWS AND COMMENTS IN THIS BLOG:\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\nTHIRD PARTY COMPANIES WITH BANNERS ON MY WEBSITE:\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\nTRADING &amp; PERFORMANCES DISCLAIMER:\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.','WILL THE EUR/USD FALL NO MATTER WHICH WAY GREECE VOTES?','','inherit','open','closed','','6260-revision-v1','','','2015-07-04 10:15:30','2015-07-04 15:15:30','',6260,'https://weeklyfxdrivethru.com/6260-revision-v1/',0,'revision','',0),(6264,1,'2015-07-04 10:55:08','2015-07-04 15:55:08','<h3 style=\"text-align: center;\"><strong>THE WEEKLY FX DRIVE THRU\r\n“THE PREMIUM SERVICE”\r\n</strong><strong>The Home of Single-Lot Trading\r\nwww.weeklyfxdrivethru.com</strong></h3>\r\n&nbsp;\r\n<ol>\r\n	<li><strong> INTRODUCTION – THE VIEW FROM MY TRADE DESK:</strong></li>\r\n</ol>\r\nLOOKING BACKWARDS, FORWARDS &amp; SIDEWAYS (FOR GOOD MEASURE) AT THE FX MARKET:\r\n\r\n1.1: LOOKING BACKWARDS:\r\n\r\nI would say that when Tsipras and Varoufakis walked out of the EUROGROUP meeting last week and announced that they would ask the population of GREECE to decide, that must have taken the wind out of the sails of Merkel, Dijsselbloem and the rest of the EUROGROUP around the table.\r\n\r\nI have read soooooo many articles this week I think I have further strained my eyes and need to update my reading glasses. A referendum, never appeared anywhere on the stuff I read, and, frankly this will be seen in the future as either a stroke of genius on his part for whatever his plans are moving forward or as something rather foolish akin to a turkey voting for Christmas. Nevertheless, unless I do not know about it, time travel has still not been invented and therefore you cannot go back in time and re-write history to eradicate poor decisions.\r\n\r\nOn the 5<sup>th</sup> July 2015, we have a vote in GREECE “OXI or NAI”. I am not really sure how this can be a vote on the EUROGROUP package that Tsipras walked away from, it is my understanding that those terms and conditions are no longer applicable and were withdrawn the moment Tsipras left the table. So much is miss-quoted, so much of what is on the news wires are selected words from a press release without the context in place, plus it is very difficult to keep track of the timeline of events. All I know is that the finger pointing is well underway… politicians are good at this… “The blame game”.\r\n\r\nSo in my opinion most GREEKS will read the vote as a simple referendum on keeping the single-currency, as all deals are now off. It is a vote on the Syriza party government and Tsipras as prime minister.\r\n\r\nThe big question is of course: Is anyone expecting a “NO” vote result? It looks close, but whatever the vote we will have confusion in abundance.\r\n\r\nWithout any doubt Tsipras has placed what can only be termed as a noose around his neck by calling this referendum. Whatever the result, there will be confusion. No deal is actually on the table from the creditors to vote on, so what does that mean, back to negotiations? A “NO” vote means exit from the single currency but the EUROZONE has no mechanism as far as I know to do this.\r\n\r\nHappy times, fun days of trading this week looks to be on cards.\r\n\r\nI would suggest you position size very carefully to manage RISK and potential exposure or just exit trades to watch. I expect some volatility to take place in the Forex market.\r\n\r\nThe other major news in my eyes last week was Non-Farm payrolls in the U.S. Not brilliant numbers by all accounts and not the blow out numbers expected. As usual CNBC and BLOOMBERG rolled out the usual suspects to debate the influence of these numbers on the timing of the FED rate hike later this year and the potential number of rate increases. I must admit I am getting bored about writing about the FED rate hike, but not a bored as these presenters on TV trying to make news…\r\n\r\nIn my opinion, the FED will just not look at one month in isolation. U.S. data is not 100% brilliant and Janet Yellen has been consistent all along stating that future rate increases are based upon data dependency showing strength. To be frank, I feel that the FED credibility overrides this and she will raise rates in September / October no matter what. If she waits until December as some analysts state this will be the calendar version of “the last chance saloon” / lastminute.com and this will be seen for what it is - desperation to ensure credibility, this is why I think the fall is when the hike will occur and this keeps the FED credibility intact. Remember the “DOTS” from the last FOMC meeting; most of the FOMC committee members had two rate increases in mind for this year.\r\n\r\nApart from GREECE and NFP I traded very lightly last week in keeping with my plan until GREECE is resolved for the short-term at least.\r\n\r\nI think GREECE will not even be fixed in my lifetime, and whilst this is my own opinion, I think that the self-serving politicians from both sides of the divide past and present that have been involved in this farce of a solution should be ashamed of themselves. To see senior citizens lining up outside a bank to withdraw €100 or so to live on, is a bloody disgrace, this is 2015 not 1915.\r\n\r\nGREECE has a lot to answer for, with regards to the existing position, but the can kicking EUROZONE politicians are certainly not free from guilt and the IMF should be above all this and be able to see that GREECE simply could not afford to repay from day one.\r\n\r\nIt is shambolic at best and it is far from over yet. I have seen better-organized chickens running around a farmyard with their heads chopped off.\r\n\r\n&nbsp;\r\n\r\n1.2: LOOKING FORWARDS:\r\n\r\nMAJOR FOREX NEWS THIS WEEK THAT INTERESTS ME:\r\n\r\n(There are many more news items related to the Forex Market than the ones listed below. These are the ones that interest me. You can go to <a href=\"http://www.forexfactory.com\">www.forexfactory.com</a> and <a href=\"http://www.tradingeconomics.com\">www.tradingeconomics.com</a> for more comprehensive lists of all news events that are Forex related).\r\nSUNDAY: EUR – Greek Referendum.\r\n\r\nMONDAY: CAD – Ivey PMi.\r\nMONDAY: NZD – NZIER Business Confidence.\r\n\r\nTUESDAY: AUD – RBA Rate Statement.\r\n\r\nWEDNESDAY: USD – FOMC Meeting Minutes.\r\nWEDNESDAY: AUD – Employment Data\r\nWEDNESDAY: CNY – CPi.\r\n\r\nTHURSDAY: GBP – BOE Rate Statement.\r\n\r\nFRIDAY: CAD – Employment Rate.\r\n\r\nObviously GREECE will dominate the news. It may be an economy the size of Colorado in the U.S. but its much more important from a contagion viewpoint amongst other well documented reasons.\r\n\r\nAs subscribers will know the news involving the CAD this week will be of particular interest given my longer-term views on this currency.\r\n\r\nThe AUD and NZD currencies play a major part in my 2015 trade plan (see prior blogs) and we have key Aussie data this week. I feel that we may see another cut from the RBA so do not be surprised for pandemonium to ensue as the BOC and RBNZ (already under pressure) will come into focus. All good news for me and traders that subscribe and follow my trades. Happy Days!!\r\n\r\n&nbsp;\r\n\r\n1.3: LOOKING SIDEWAYS (FOR GOOD MEASURE):\r\n\r\nI think at the moment as traders we need to be very clever and size trades smaller than usual; I am expecting wild swings and then an ultimate direction following the immediate GREECE news, we need to be ready.\r\n\r\nLongevity as I write every week in this blog is paramount to success and you only have longevity through effective RISK and MONEY MANAGEMENT with properly sized trades in line with the risk associated with the size of your trading account.\r\n\r\nAfter 8 years of this, let me tell you this coming week accounts will get blown out, if caution and common sense is NOT applied.\r\n\r\nWe all want to make money but this is not a sprint it\'s a marathon. If you want to gamble find a casino.\r\n\r\nThe best trade coming up over the next few sessions may be no trade at all. At least then you will not be positioned poorly.\r\n\r\nThink long and hard about what type of trader you are and what your goals are for the medium and long term. There is a Forex market every day, so to miss a couple of days is not that big of an issue.\r\n\r\n&nbsp;\r\n<ol start=\"2\">\r\n	<li><strong> WHAT’S ON MY MIND: -\r\nTHE FUNDAMENTAL TRADERS OVERVIEW:</strong></li>\r\n</ol>\r\n<h3 style=\"text-align: center;\"><strong>WILL THE EUR/USD FALL NO MATTER WHAT WAY GREECE VOTES?</strong></h3>\r\nAnother week has passed and we have entered what appears to be a void similar to something from a sci-fi movie or an episode from Star Trek.\r\n\r\nWe are on hold, almost like suspended animation. However we are surrounded by things happening with regards to the Forex market based on pure speculation about something no one has a clue about. We don\'t know what the outcome will be or what affect it is going to have.\r\n\r\nIf you think that’s going to stop me having an opinion…think again!! Remember, I am originally from Liverpool; I have an opinion on most things and most definitely on Forex matters!!\r\n\r\nLook at the weekly EUR/USD chart below. It shows a “BEAR FLAG” formation pointing to 0.8000. I would say definitely below 1.0850 it’s in play (other traders may say 1.1000 or 1.0960 are the break levels). I do know that should it break higher above 1.1480 the flag pattern is invalidated.\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/07/EURUSD-BLOG-MAIN-PIECE-2.0-05072015-WILL-EURUSD-FALL-NO-MATTER-WHICH-WAY-GREECE-VOTES.png\"><img class=\"aligncenter size-large wp-image-6261\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/07/EURUSD-BLOG-MAIN-PIECE-2.0-05072015-WILL-EURUSD-FALL-NO-MATTER-WHICH-WAY-GREECE-VOTES-1024x541.png\" alt=\"EURUSD BLOG MAIN PIECE 2.0 05072015 WILL EURUSD FALL NO MATTER WHICH WAY GREECE VOTES\" width=\"1024\" height=\"541\" /></a>\r\n\r\n&nbsp;\r\n\r\nSo last week I wrote that were we at a “CROSSROADS” once again. I’m still standing, as Elton John would say. I want to move off but GREECE is holding me back for now.\r\n\r\nThese are my continued thoughts and frankly regular readers will not see much of a sea change in my thoughts and views.\r\n\r\nIf a “YES” vote is the result from the referendum, In my mind we still have huge uncertainty. This would be a failure on the part of Tsipras and the Syriza party who want a “NO” vote result. Will the government resign? Varoufakis has already stated he walks on a “YES” vote.\r\n\r\nWe then require an interim government until new elections can be held. The banks have no money. GREECE has already defaulted to the IMF. There is no bailout money or temporary funding on the table. There is no ECB ELA funding available to keep the GREEK banks liquid.\r\n\r\nWill the ECB / EUROGROUP and IMF step in to support?\r\n\r\nThere would be huge uncertainty and quite frankly we enter unchartered waters. Even if there was support for GREECE this would be a can-kicking” exercise once again that GREECE cannot afford to repay and nothing would actually be solved resulting in a depressed EUR currency in my eyes as I think that Mario Draghi would be having low rates forever trying to fix the overall EUROZONE economy. He could no longer pander just to GERMANY as it would be seen for what it was, basically a f**k you approach to GREECE.\r\n\r\nThe EUROZONE is meant to be a union and I believe this may be the incident that starts this way of thinking and more importantly behaving. But hey… this is the EUROZONE … common sense is left at the invisible border!!\r\n\r\nA “NO” vote starts my CONTAGION THEORY from a few weeks ago that I keep referring to. A “NO” vote provides Tsipras with the mandate to pull away from the single currency and re-introduce the Drachma.\r\n\r\nWhilst there is no mechanism for a country to exit the single currency, I can imagine as I type there are armies of lawyers in Brussels with fat expense accounts working on this subject.\r\n\r\nA GREXIT causes many other issues not just the GREXIT itself but also the IMF default and places all future monies owed to creditors in doubt. Ignoring the local work to be done in GREECE with banks and the financial markets to establish a footing from which to work off which will be a massive undertaking in itself, the effect on the world markets could be unparalleled.\r\n\r\nThis would create huge uncertainty and frankly the “Who’s Next” debate will gather momentum. It has already started in the local press in SPAIN, PORTUGAL and ITALY.\r\n\r\nIf that was not enough in itself to digest…. The FED wants to raise interest rates.\r\n<ul>\r\n	<li>POLITICAL INSTABILITY</li>\r\n	<li>MARKETS UNCERTAINTY</li>\r\n	<li>FINANCIAL MARKETS IN EUROPE IN TURMOIL</li>\r\n	<li>THE CONTAGION EFFECT</li>\r\n</ul>\r\nAll of the above in my opinion send the EUR/USD lower…. Add to this Central Bank divergence with the FED raising rates and the ECB probably on low rates to infinity and the BEAR FLAG from the chart above could be on.\r\n\r\nNow I have been talking about my FUNDAMENTAL views for months and the EUR/USD testing parity but now this could be a possibility as the GREECE situation has been allowed to drag on because of a lack of desire to fix the problem head on in my opinion. There have been too many can-kicking exercises over the years from the EUROGROUP and it has resulted in what we have now.\r\n\r\nA massive EUR/USD sell off is a possibility; all the factors are there. Will it happen?\r\n\r\n<strong> </strong><strong> </strong>\r\n<ol start=\"3\">\r\n	<li><strong> THE PREMIUM SERVICE:\r\n</strong></li>\r\n</ol>\r\n<strong>SUMMARY OF PERFORMANCE:</strong>\r\n\r\n3.1: OVERVIEW - SUBSCRIPTION OPTIONS, FEATURES and PRICING:\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\nGOLD MEMBER SUBSCRIPTION FEATURES &amp; PRICING OPTIONS:\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\nSILVER MEMBER SUBSCRIPTION FEATURES &amp; PRICING OPTIONS:\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\nPLEASE NOTE:\r\n\r\nDuring the summer from July 25<sup>th</sup> through to September 5<sup>th</sup> 2015, there will not be any WEEKLY FX DRIVE THRU blogs and PREMIUM SERVICE trading will be minimal due to slow markets. Subscribers will still be advised of trades, if any, but typically there are very few. Subscription periods DO NOT count the weeks when there is no blog.<u> </u>\r\n\r\n3.2: PERFORMANCE REVIEWS:\r\n\r\nPREMIUM SERVICE – COST INCOME ANALYSIS (USD):\r\n\r\nEMANATING FROM TRADE SET-UPS – to 30<sup>th</sup> June 2015.\r\n\r\nMICRO LOT TRADER - 420 trades cost to trade = $42.00\r\n<strong>PROFIT</strong> from 420 trades = <strong>$599.70</strong>\r\n\r\nMINI LOT TRADER - 420 trades cost to trade = $420.00\r\n<strong>PROFIT</strong> from 420 trades = <strong>$5,997.00</strong>\r\n\r\nSTANDARD LOT TRADER - 420 trades cost to trade = $4,200.00\r\n<strong>PROFIT</strong> from 420 trades = <strong>$59,970.00</strong>\r\n\r\nIf the above return from Forex Trading interests you go to\r\n\r\n<a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a> and check out the subscription options under the tab “PREMIUM SERVICE”.\r\n\r\nThe performance above is based off single-lot trade sizes.\r\n\r\nTHE PREMIUM SERVICE has subscribers with broker accounts of sizes ranging from $2,500 to over $100,000.\r\n\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.\r\n\r\n&nbsp;\r\n\r\n3.3: PREMIUM SERVICE - TRADE SUMMARY DETAILS JUNE 2015 &amp; YTD:\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/PS-PROFITS1-JUNE-2015.png\"><img class=\"aligncenter size-full wp-image-6223\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/PS-PROFITS1-JUNE-2015.png\" alt=\"PS PROFITS1 JUNE 2015\" width=\"460\" height=\"427\" /></a>\r\n\r\n<strong> </strong>\r\n\r\n<strong><a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/PS-PROFITS2-JUNE2015.png\"><img class=\"aligncenter size-full wp-image-6224\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/06/PS-PROFITS2-JUNE2015.png\" alt=\"PS PROFITS2 JUNE2015\" width=\"460\" height=\"420\" /></a> </strong>\r\n<ol start=\"4\">\r\n	<li><strong> PREMIUM SERVICE SUBSCRIBER EXCLUSIVE CONTENT:</strong></li>\r\n</ol>\r\n(Section 4 is exclusive PREMIUM SERVICE content only available to PREMIUM SERVICE subscribers)\r\n\r\n4.1: EDUCATION:\r\n\r\n4.2: THE PREMIUM SERVICE – TRADING REVIEW &amp; LOOKING FORWARD:\r\n\r\n4.3: THE PREMIUM SERVICE - EXISTING LIVE TRADES:\r\n\r\n4.4: THE PREMIUM SERVICE – EXISTING LIMIT ORDERS:\r\n\r\n4.5: ARMEGEDDON “GOLDEN” TRADES:\r\n\r\n4.6: POTENTIAL TRADES - WHAT CHARTS AM I LOOKING AT?\r\n\r\n4.7: MAJOR TRADING PAIRS WITH LONGER-TERM MATCHING TRENDS:\r\n\r\n4.8: THE KEY SUPPORT &amp; RESISTANCE LEVELS WITH THE USD MAJORS<strong>:<u></u></strong>\r\n\r\n&nbsp;\r\n\r\n<strong> </strong>\r\n<ol start=\"5\">\r\n	<li><strong> MY FINAL THOUGHTS:</strong></li>\r\n</ol>\r\n5.1: SUBSCRIBING TO THE “FREE VERSION” OF THE WEEKLY FX DRIVE THRU:\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><strong><u> </u></strong>\r\n\r\n&nbsp;\r\n\r\n5.2: TRADING TIPS &amp; THOUGHTS FOR THE WEEK AHEAD:\r\n\r\nThis may be the time if you are relatively new to trading to maybe hold back a little, maybe not even trade at all into the GREECE news. Mainly, I would avoid the main European currencies EUR, GBP and CHF.\r\n\r\nThere is always a risk with Forex but trading non-European based currencies should be a little less risky than say the EUR.\r\n\r\nI intend to remain light into the middle of the week depending upon the GREECE referendum outcome and fallout.\r\n\r\nAs always, with high-risk news on the imminent horizon it is now in my mind, even more important to stick to core trading principles.\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\nTake care.\r\n\r\nScott Pickering\r\nThe Pip Accumulator\r\n\r\nEMAIL / FOLLOW ME AT:\r\ndrivethru@weeklyfxdrivethru.com\r\nhttp://www.twitter.com/pipaccumulator\r\nhttp://www.google.com/+ScottPickering\r\nhttp://www.youtube.com/c/ScottPickering\r\nhttp://www.thepipaccumulator.tumblr.com\r\nhttp://www.stocktwits.com/thepipaccumulator\r\n\r\nBLOG DATA:\r\nDATE: 05.07.2015\r\nBLOG FORMAT/ VERSION / AUDIENCE: THE FREE NEWSLETTER\r\nBLOG REFERENCE: #160\r\n\r\nVIEWS AND COMMENTS IN THIS BLOG:\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\nTHIRD PARTY COMPANIES WITH BANNERS ON MY WEBSITE:\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\nTRADING &amp; PERFORMANCES DISCLAIMER:\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.','WILL THE EUR/USD FALL NO MATTER WHICH WAY GREECE VOTES?','','publish','open','closed','','will-the-eurusd-fall-no-matter-which-way-greece-votes','','','2015-07-04 10:55:08','2015-07-04 15:55:08','',0,'https://weeklyfxdrivethru.com/?p=6264',0,'post','',0),