<strong><span style="font-size: 14pt;">THE DAILY FX POST</span>
<span style="font-size: 14pt;"> from</span>
<span style="font-size: 14pt;"> THE PREMIUM SERVICE</span></strong>

&nbsp;

<strong>DATE: Tuesday 28th October 2014
REF: #116</strong>

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<ol>
	<li><span style="font-size: 12pt;"><strong> OVERVIEW – INITIAL THOUGHTS:</strong></span></li>
</ol>
We are stuck in ranges all over.

I tried two late morning directional trades yesterday. My goal was to try to achieve a 25-30-pip move in both.

The EUR/USD (FT214) – after watching paint dry I took +10 pips after what seemed like squeezing blood from a stone.

NZD/USD (FT215) – I am still short and positive by 1 pip.

I took the USD/SEK (FT216) long this morning as I mentioned on twitter last night and took +480 pips on the initial move following central bank interest rates being set to 0%. It is still gong and currently it is another 360 pips higher from where I exited.

Apart from excitement in the Scandinavian currencies we are basically in very tight trading ranges ahead of the FED tomorrow. The EUR/USD has been in a 35 pip trading range, the GBP/USD 42 pips. The AUD/USD wins out at 48 pips so far.

The bottom line is however I think that we will just move around in a chop fest until tomorrow after when the FOMC statement is released.

I have several set-ups ready for tomorrow afternoon depending upon how the FOMC statement reads.

It’s time to paint a few walls and watch them dry.

Really sorry, but the market is giving me nothing at the present time. One of the key characteristics of a seasoned FX trader is the ability to be patient and wait for trades. This is right where I am right now.

<strong> </strong>
<ol start="2">
	<li><span style="font-size: 12pt;"><strong> KEY NEWS EVENTS NEXT 24 hours (BASED UPON (NYC) EDT TIME:</strong></span></li>
</ol>
USD: - Consumer Confidence.

NZD: - ANZ Business Confidence.

<strong> </strong><strong> </strong>
<ol start="3">
	<li><span style="font-size: 12pt;"><strong> EXISTING LIVE TRADES:</strong></span></li>
</ol>
<strong>RADAR TRADES:</strong>

There are no LIVE RADAR TRADES at the present time.

<strong>FLASH TRADES:</strong>

FT190
NZD/USD
Short at 0.7793
Stop at 0.8050
Limit at 0.6580
Price Now: 0.7894
Current Profit / Loss Position: - 101 pips

FT202
USD/CAD
Long at 1.1340
Stop at 1.1170
Limit at 1.1570
Price Now: 1.1225
Current Profit / Loss Position: -115 pips
(This pair is hedged from -70 pips)

FT209
AUD/USD
Short at 0.8785
Stop at 0.8880 (Please note new stop loss level)
Limit at 0.8000
Price Now: 0.8837
Current Profit / Loss Position: -52 pips

FT215
NZD/USD
Short at 0.7895
Stop at 0.7960
Limit 0.7795
Price now 0.7894
Current Profit / Loss Position: +1 pip<strong> </strong>

<strong>FUNDAMENTAL TRADES:</strong>

FUN44
GBP/NZD
Long at 2.0507
Stop at 1.9800
Limit at 2.3200
Price Now: 2.0414
Current Profit / Loss Position: -93 pips
<ol start="4">
	<li><span style="font-size: 12pt;"><strong> LIMIT &amp; STOP ORDERS WITH BROKERS:</strong></span></li>
</ol>
There are no LIMIT ORDERS with my brokers at this present time. I do however have several set-ups ready to place after the FED tomorrow afternoon.

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Good luck today.

Scott Pickering
The Pip Accumulator
<a href="http://www.weeklyfxdrivethru.com">www.weeklyfxdrivethru.com</a>
Twitter: @ThePremService
Email: premiumserice@weeklyfxdrivethru.com

<strong>DISCLAIMER:</strong>

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