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(10527, 1, '2017-12-09 08:23:51', '2017-12-09 13:23:51', '<strong>\r\n</strong>\r\n<ol>\r\n 	<li><strong>THE FIRST FEW SHOTS:</strong></li>\r\n</ol>\r\nI think that it’s fair to say that economic data has a back seat at the moment. It’s all about geopolitical news and the effect of these news items that are driving the markets at the moment. When I say driving, I really mean pushing one way then the other most times without reason.\r\n\r\nThe markets are not as liquid now as they were 12 months ago, and, this is evidenced as we enter periods like now, where it is largely historically recognized that many large institutions are preparing to run down their books into the year-end ready for the start of next year.\r\n\r\nTRUMP and BREXIT headlines have dominated all week. It seems really strange to write that when the past week included U.S. Non-Farm Payrolls.\r\n\r\nTRUMP goes from controversy to controversy, investigation to investigation and the great negotiator is still without a single campaign promise delivered. The latest from the great negotiator was that we had an 11th hour deal to fund the government for two weeks to prevent a shutdown, as once again the debt ceiling was reached. Not out of the woods yet, a permanent solution is required by December 22nd to enable the government to function moving forward.\r\n\r\nYou could not make this up. It is a reality TV program played out in front of the world with the oval office as the studio.\r\n\r\nWith regards to BREXIT, last Friday we had an agreement from Juncker and Barnier that enough progress had been made on phase one of the negotiations that the UK and the EU negotiators could now move to phase two.\r\n\r\nAt what cost?\r\n<p style=\"text-align: center;\"><strong>RED LINES &amp; DEADLINES = CAN KICKED DOWN THE ROAD</strong><strong> </strong></p>\r\nThe ECB needs success as much as Theresa May with the RED LINES and DEADLINES set by both teams ahead of the EU 27 member states 2017 Christmas party aka December Council Meeting.\r\n\r\nThe ECB therefore did what they are master of… FUDGING, to you and me it’s also known as KICKIN’THE CAN DOWN THE ROAD.\r\n\r\nIt looks like the Irish border issue has been kicked down the road. We were provided with very little detail and this was the stumbling block. All parties, Theresa May (UK PM…by a thread), Michel Barnier (EU Chief Negotiator), Jean Claude Junker (President of the EU Commission), Leo Varadkar (IRISH PM) and Arlene Foster (DUP) placed a positive spin on the fact enough progress had been made but very light on specifics.\r\n\r\nThe fact that both Barnier and Juncker had broad smiles in the press conferences that followed the announcement, makes me think that the UK was screwed. This will no doubt roll on and there will be fallout, I think that’s a given.\r\n\r\nFrom an FX perspective, the trading around the BREXIT agreement was no more than a buy the rumour sell the news event. Cable basically nosedived. After all was said and done it moved over 140 pips lower from the highs at one point.\r\n\r\n<strong><u>NOTE:</u></strong>  With regards to cables move lower, this was more than severe profit taking in my opinion.\r\n\r\nFinally, …\r\n\r\nI picked this up out of my twitter feed last week…. made me giggle.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/TWITTER-NOTE-10122017.png\"><img class=\"aligncenter size-large wp-image-10507\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/TWITTER-NOTE-10122017-1024x929.png\" alt=\"\" width=\"1024\" height=\"929\" /></a>\r\n\r\n<strong> </strong>\r\n<ol start=\"2\">\r\n 	<li><strong>MY (THE PREMIUM SERIVICE) TRADING LAST WEEK:</strong></li>\r\n</ol>\r\nI spent most of last week writing to PREMIUM SERVICE subscribers about how I wanted to reduce RISK ahead of NFP. I am pleased to say, I cut out lots of trades before the monthly lottery day aka NFP! I was very successful in reducing what I call circumstantial RISK prior to the NFP data release. I just had to manage my longer-term positions of AUD/NZD and USD/CAD.\r\n\r\nI did not as I indicated to PREMIUM SERVICE subscribers trade NFP. I find that I only get annoyed and frustrated with NFP moves which linger into and hover over the weekends. This may be more of thing of the past but I just hate the knee-jerk moves and then two/ three hours of a chop fest that follows. It just does not suit my style at all.\r\n\r\nTrading this month so far has been a little strange. I am conscious that I want to reduce RISK heading into the Christmas holidays. This coming week is, in my opinion, the last week of this year with decent liquidity and I do not want to be carrying multiple trades forward or having to manage a huge quantity over the Christmas holidays.\r\n\r\nEconomic and Central Bank data this week makes it a huge week of importance as well. At the same time, I realise that most of my core positions of the USD/CAD and AUD/NZD will be probably be carried forward into 2018. I have a few USD/CAD trades that I will unload next week. I expect my pip net profit for 2017 to lie a little lower than current levels once I cull!\r\n\r\n<u>PERFORMANCE 2017 TO DATE:</u>\r\n\r\nDecember 2017 net TOTAL:     +536 net pips\r\n2017 YEAR TO DATE:                +13,319 net pips\r\n\r\nIn sales mode; I am now planning for 2018. I will have live trades through the Christmas and New Year holidays so I will be on twitter and probably email.\r\n\r\nIn 2018, the PREMIUM SERVICE will return with a new TRADE STYLE option for subscribers to consider and the SUBSCRIBER SECTION of the “DRIVE THRU” will be larger with greater emphasis on sentiment and market direction. Therefore, now is a great time to join the PREMIUM SERVICE get familiar and ready to go with the 2018 launch!!\r\n\r\n<strong> </strong><strong> </strong>\r\n<ol start=\"3\">\r\n 	<li><strong>THE FX MARKET PLACE THIS WEEK:</strong></li>\r\n</ol>\r\n<u>\r\n3:1. THIS WEEK’S ECONOMIC DATA RELEASES:</u>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/ECON-DATA-10122017.png\"><img class=\"aligncenter size-large wp-image-10508\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/ECON-DATA-10122017-1024x985.png\" alt=\"\" width=\"1024\" height=\"985\" /></a>\r\n\r\n<u>\r\n3:2. MY THOUGHTS ON THIS WEEK’S ECONOMIC DATA:</u>\r\n\r\nThis week I would say is probably one of if not the most important weeks for trading FX in 2017. We should get more than a feeling for direction into early 2018 given the information that should be provided.\r\n\r\nWe have Central Bank interest rate decisions and market commentaries from the FED, ECB, BOE and SNB.\r\n\r\nWe also have, Consumer Prices from the U.S. and the UK, Jobs Data from Australia, Average Earnings Data in the UK plus Producer Prices and Retail Sales data from the U.S. It is without doubt a packed week.\r\n\r\nThe most important part from my perspective however is to hear about any changes in Central Bank monetary policies moving into 2018.\r\n\r\nIn no particular order: -\r\n\r\n<strong><u>GBP:</u></strong><u> CPi, AVERAGE EARNINGS, RETAIL SALES &amp; THE BOE</u>.\r\n\r\nI do not for a minute believe that Mark Carney or any members of the MPC will be looking to amend interest rates, however, when the BOE announces on Thursday, I do expect that by that time we should have a pretty good idea about the state of the UK economy.\r\n\r\nThere is still inflation in the UK and CPI on Tuesday will give us the nod on whether it has topped out or not. The last reading was 3.0%.\r\n\r\nAverage Earnings is one that will be watched very, very closely. With inflation at 3.0% last time around earnings were lagging at 2.2%. For it to be a HAPPY CHRISTMAS the BOE and the government will at least want the numbers to match or be very close.\r\n\r\nRetail Sales should be positive and a beat. If a country cannot have a good retail sales number leading up to Christmas, it never will.\r\n\r\nInterest rates should remain at 0.50% and the MPC vote at 7-2. Any deviations from these numbers and the cable will be off running around like a headless chicken.\r\n\r\nGiven the “low on details” BREXIT phase one deal completed last Friday, I am once again having mixed views on the GBP.\r\n\r\nThis week’s data is therefore crucial to me moving forward.\r\n\r\n<strong><u>\r\nUSD:</u></strong><u> CPi, PPi, RETAIL SALES and the FOMC.</u>\r\n\r\nI am just not sure what to make of the USD at the moment. My brain tells me one thing and my gut another. I have read a lot of analyst reports for 2018 and there are institutions expecting 3 possibly even 4 further interest rate increases on top of the one due this week, which would take the U.S. FED Funds Rate to 1.50%.\r\n\r\nThis time next year it could be ready to move to 2.50%.\r\n\r\nWhat is at the back of my mind is that there is NO INFLATION around. Last week’s Average Hourlies released at the same time as the NFP data was once again missing signs of inflation.\r\n\r\nThis week CPi needs to beat 0.1% to show that there is some life in the economy vis-à-vis inflation. Producer prices and Retail Sales need to show growth as well. This has been lacking more or less of late. With this as a backdrop I just cannot see multiple rate hikes on the horizon. This must be a fear for the FED moving forward. All this talk of transitory stands for nothing it would appear.\r\n\r\nSo, Janet Yellen has her final Press Conference this week and she will announce a 0.25% rate increase. If the FED does not raise there will be blood!\r\n\r\n&nbsp;\r\n\r\n<strong><u>EUR:</u></strong><u> INTEREST RATE ANNOUNCEMENT and PRESS CONFERENCE.</u>\r\n\r\nThe final Central Bank announcement of the week is Mario Draghi at the ECB. Fair play to Mario Draghi of late, at all speeches he has watched his “p’s and q’s” very closely.\r\n\r\nIt looks from a trading perceptive that to keep a lid on the single currencies strength below 1.2000 is key objective, both he and the ECB council members will be happy that recent policy initiatives have worked out very well putting a cap on EURO strength.\r\n\r\nI suspect that Draghi will be popping the Dom Perignon should the FED raise rates next Wednesday and the USD strengthen across the board, ahead of his press conference the following day.\r\n\r\nI am expecting a boring press conference and speech from Draghi. Happy Christmas, thanks for coming there are mince pies for everyone at the back of the room type of stuff. But… you just never know with the ECB. There is a history of council members breaking ranks and noting their dissent to undermine Mario Draghi. For this reason, this week, this event cannot be missed.\r\n\r\n&nbsp;\r\n\r\n<u>3:3. USD MAJORS – SUPPORT &amp; RESISTANCE with BIAS:</u>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/TCHART-10122017.png\"><img class=\"aligncenter size-large wp-image-10509\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/TCHART-10122017-1024x889.png\" alt=\"\" width=\"1024\" height=\"889\" /></a>\r\n\r\n&nbsp;\r\n\r\n<u>3:4. USD – TRADING CHARTS: </u>\r\n\r\nMore often than not I will use DAILY CHARTS for my analysis. My commentary and thoughts for each trading pair are above the charts.\r\n\r\nCANDLE ANALYSIS: I have now added my thoughts based on the closing daily candle to the weeks trading.\r\n\r\n&nbsp;\r\n\r\n<strong>\r\n<u>EUR/USD:</u>\r\n</strong>\r\nDAILY CLOSING CANDLE: BULLISH\r\n\r\nThe single currency has been in sell mode this past week, with USD strength returning to the markets ahead of the anticipated rate increase from the FOMC this coming Wednesday.\r\n\r\nSupport at 61.8% Fibonacci level of 1.1701 looks to be acting like a “Star Trek” tractor beam sucking the pair lower. I see no reason why this trend lower should stop in the run up to the FOMC. Below 1.1701, the horizontal support / resistance level around 1.1650-60 is next up. This could be a great level ahead from which a reversal could start.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/EURUSD-D-10122017.png\"><img class=\"aligncenter size-large wp-image-10519\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/EURUSD-D-10122017-1024x534.png\" alt=\"\" width=\"1024\" height=\"534\" /></a>\r\n\r\n&nbsp;\r\n\r\n<strong><u>GBP/USD:</u></strong>\r\n\r\nDAILY CLOSING CANDLE: VERY BEARISH\r\n\r\nRight now… I am not sure that whatever pattern or measured move, pivot point, Fibonacci level etc. you think about or can see on a chart means too much for the next few days. This pair will be driven by political news rather than economic news or technical data.\r\n\r\nLooking at the chart below, 1.3340 looks to have been an area where buyers and sellers have come together in the past to compete over directional control.\r\n\r\nRecently, I had been long this pair and quite bullish looking forward. After the BREXIT phase one deal (of sorts) I think there are so many questions unanswered that it is hard to remain bullish. The uncertainties surrounding the BREXIT to a large extent still remain, and frankly when you consider arriving at stage one “the easy way” has been like drawing blood from a stone… The next phase includes trade agreements so it can only be harder in my opinion.\r\n\r\nWe have a bull flag on the chart but I just cannot take it seriously at the moment.\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/GBPUSD-D-10122017.png\"><img class=\"aligncenter size-large wp-image-10520\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/GBPUSD-D-10122017-1024x534.png\" alt=\"\" width=\"1024\" height=\"534\" /></a>\r\n\r\n<strong><u>AUD/USD:</u></strong>\r\n\r\nDAILY CLOSING CANDLE: BEARISH\r\n\r\nWe have a double top pattern in play.\r\n\r\nFundamentally some comments from the RBA make me think that the bottom may have been in around the 0.7500 level. But last week on great data the AUD/USD was rejected at 0.7640 and now following USD strength we have slipped below the 0.7520 level, and broken back to re-test.\r\n\r\nThis means in usual trading conditions that the double top measured move should be in play down to 0.7420.\r\n\r\nPersonally, in my opinion the markets are twitchy at the moment, at times brutal and commodity currencies have been acting independently of the EUR/USD so I am not convinced that this move will happen.\r\n\r\nObviously, a break back above 0.7520-40 places the move in doubt.\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/AUDUSD-D-10122017.png\"><img class=\"aligncenter size-large wp-image-10518\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/AUDUSD-D-10122017-1024x534.png\" alt=\"\" width=\"1024\" height=\"534\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n<strong><u>NZD/USD:</u></strong>\r\n\r\nDAILY CLOSING CANDLE: BEARISH (INVERTED HAMMER)<strong><u>\r\n</u></strong>\r\nIf you like to play “ping pong” you must love this pair at the moment. My thoughts are that we are heading to the John Key low of 0.6600. It just seems to be taking an eternity.\r\n\r\nLast week some words from Grant aka “Frank (Some Central Banks do have them)” Spencer, stopped the Kiwi’s move lower.\r\n\r\nFor now we are range bound 0.6780 to 0.6960.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/NZDUSD-D-11122017.png\"><img class=\"aligncenter size-large wp-image-10521\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/NZDUSD-D-11122017-1024x534.png\" alt=\"\" width=\"1024\" height=\"534\" /></a>\r\n\r\n&nbsp;\r\n\r\n<strong><u>USD/CAD:</u></strong><strong>\r\n\r\n</strong>\r\n\r\nDAILY CLOSING CANDLE: INDECISION (SPINNING TOP)\r\n\r\nBugger…\r\n\r\nI am HEDGED this pair and short some more!!  Sooner rather than later I am going to have to make the TRADE DECISION. I still have capacity before I reach my RISK TOLERANCE limit so I will wait for now, but it annoys me every time I open up the broker account that trades are inside. Maybe its best not to open that broker account!!\r\n\r\nIt looked to me originally that a confluence of Fibonacci levels would have held this pair at 1.2800. Next was 1.2840 and now my thoughts are 1.12910 the recent highs although my fears are that 1.3000 looms overhead….\r\n\r\nBelow 1.2800 gives the bears some optimism moving forward, 1.2750 is definitely greater comfort but around 1.2850 I can only see higher…argh!!\r\n\r\nThe chart below shows the QUAD TOP measured move. That has not yet played out!!\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/USDCAD-D-10122017.png\"><img class=\"aligncenter size-large wp-image-10522\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/USDCAD-D-10122017-1024x534.png\" alt=\"\" width=\"1024\" height=\"534\" /></a>\r\n\r\n&nbsp;\r\n\r\n<strong><u>USD/CHF:</u></strong>\r\n\r\nDAILY CLOSING CANDLE: BEARISH (SHOOTING STAR)<strong>\r\n</strong>\r\nThe BULL FLAG from last week is still in play. However, it’s a nasty closing candle, which indicates a direction change.\r\n\r\nOne has to be cautious here, we are still inside the pennant but the candle indicates a bearish move.\r\n\r\nSUPPORT at 0.9740\r\n\r\nRESISTANCE at 1.0000\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/USDCHF-D-10122017.png\"><img class=\"aligncenter size-large wp-image-10523\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/USDCHF-D-10122017-1024x534.png\" alt=\"\" width=\"1024\" height=\"534\" /></a>\r\n\r\n&nbsp;\r\n\r\n<strong><u>USD/JPY:</u></strong>\r\n\r\nDAILY CLOSING CANDLE: BULLISH<u>\r\n</u>\r\nWith so many investigations surrounding TRUMP and the geopolitical tension with which he is associated, unless you are short this pair I do not think it would be prudent to trade it, no matter how bullish it looks to the long side.\r\n\r\nThe BEAR FLAG is probably too long vis-à-vis the flag pole length and should NOT be taken seriously. I put it there just to show how powerful upward moves can be at a time of so much confusion regarding the U.S. policies at home and internationally.\r\n\r\nBelow 110.80 obviously get bears well in control but that is a long way away now. We have retraced more than the 61.8% off the last high to low move.\r\n\r\nI would leave well alone but for the addicted top pickers the 76.4% Fibonacci at 113.80 may offer a try with an entry short with a tight stop.\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/USDJPY-D-10122017.png\"><img class=\"aligncenter size-large wp-image-10524\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/USDJPY-D-10122017-1024x534.png\" alt=\"\" width=\"1024\" height=\"534\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n<u>3:5. MY THOUGHTS ON HOW TO PLAY FX THIS WEEK:</u>\r\n\r\nThis week is loaded.\r\n\r\nI am probably going to focus more on exiting existing trades than entering new ones. I am not saying that my work for 2017 is complete but with the FED, ECB, BOE and SNB all on the floor this week plus a plethora of inflation data from the UK and U.S. one has to be lighter than usual with trades.\r\n\r\nPLUS: - This week liquidity will be starting to dry up.\r\n\r\nIf I look at the USD, despite all my rumblings earlier in this blog we have the greatest trading directional sentiment alignment of the majors for a long, long time. That said, personally for the most part, I am going to stay away from USD related pairs.\r\n\r\nTrading cross rates with lower liquidity also brings with it greater RISK even if you still reduce your position sizes.\r\n\r\nI expect that there will be more fallout from BREXIT and TRUMPS antics will obviously continue, why would his character change?\r\n\r\nIt sounds like I am closing the doors on 2017. Monday after the first Asian and European sessions of the week, I will review charts but not until then.\r\n\r\nSunday evening when the trading week starts its bound to be BITCOIN this and BITCOIN that as the focus as the futures exchange in the crypto comes on line. I expect things to get very “crunchy” as shorting comes into play.\r\n\r\nPushed on pairs to look at, I would say EUR/JPY, EUR/GBP, EUR/CHF and maybe AUD related pairs.\r\n\r\nJust remember we are in December, you cannot expect as much as if you were trading in say April or May. Trading expectations need to be wound back.\r\n\r\nAs a junkie on BREXIT news I will probably find myself reading lots of Sunday / weekend reviews and reports on what’s next!\r\n\r\n&nbsp;\r\n<ol start=\"4\">\r\n 	<li><strong> PREMIUM SERVICE SUBSCRIBERS ONLY:</strong></li>\r\n</ol>\r\n(Only SUBSCRIBERS to the PREMIUM SERVICE can view this section of the BLOG)<strong> </strong>\r\n\r\n<u>4:1. TRADING REVIEW:</u>\r\nOK; you guys may or may not agree with this statement but of late this market is most of the time just brutal.\r\n\r\nAs we enter a silly week of lots of major news items and events, we also start the wind down of liquidity and market participants.\r\n\r\nThe week was dominated by the BREXIT news trails, with most of my pips being generated via GBP related pairs.\r\n\r\nThe most frustrating time of the week was….\r\n\r\nI was ready on NFP day at 1.2804 to cut 6 x USD/CAD shorts and I hesitated believing that I would get another chance on a second push, which never materialized…. argh!!\r\n\r\nNothing much really to say this week, lots of hours in front of screens waiting, watching, waiting some more, it was painful at times. There were no set ups that were within striking distance of the market pricing so I put out lots of set ups based upon a future “hopeful” market move that just did not happen. You get these periods from time to time. The most frustrating aspect is that it is happening ahead of a period well known for thin trading conditions.\r\n\r\n&nbsp;\r\n\r\n<u>\r\n</u><u>4:2. SENTIMENT CHART,</u><u> FUNDAMENTAL &amp; MACRO THOUGHTS</u><u>:\r\n\r\n</u>\r\n\r\nIn the period, up to NFP and after the data was released, the feature in the FX market was USD strength, the exception up until Friday was the cable.\r\n\r\nThe DAILY, WEEKLY &amp; MONTHLY charts across the majors are the best aligned they have been for weeks, not perfect by a long way, yet I have to admit trading never gave me that impression last week. I found direction and sentiment very mixed.\r\n\r\nThis week we hear from the FED, ECB, BOE and SNB. These are the weeks that I like so I can absorb as much as possible about what the key people themselves think rather than the “hangers on”, which is more often the case.\r\n\r\nMy thoughts around Central Bank divergence remains with me and maybe after this week I will be able to flavour trade set ups with this in mind. The problem is I am just NOT convinced that long the USD is the trade moving forward.\r\n\r\nPart of trading that is not often discussed is MIND MANAGEMENT, I may have a blockage that needs sorting out. Hopefully this week I will be convinced with my macro thoughts or bullied into a change of thoughts process!\r\n\r\nLooking at the sentiment chart, since I re-introduced this a few weeks ago this is the most directional it has been. It is NOT perfect symmetry but it\'s the closest for weeks!\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/MKT-SENTIMENT-10122017.png\"><img class=\"aligncenter size-large wp-image-10512\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/MKT-SENTIMENT-10122017-789x1024.png\" alt=\"\" width=\"789\" height=\"1024\" /></a><u>\r\n</u>\r\n\r\n<u>4:3. TRADING PLANS:</u>\r\n\r\n<u>4:3.1. TRADING PLAN OVERVIEW THIS WEEK:</u>\r\n\r\nMy action plan for the week is: -\r\n<ol>\r\n 	<li>Monday morning after the European session, review charts for U.S. / European joint session for FLASH TRADES.</li>\r\n 	<li>Look to structure an exit of USD/CAD individual and HEDGED trades.</li>\r\n 	<li>Digest Central Bank monetary policy statements and add to action plan for Q1 2018.</li>\r\n 	<li>Plan CHF, possibly AUD &amp; GBP trades for Q1 2018, or earlier following Central Bank data this week.</li>\r\n</ol>\r\n<u>4:3.2.  EXISTING CORE TRADES (PLANS &amp; STRATEGIES):</u>\r\n\r\nI am still bearish the NZD. I am “possibly” in short-term denial vis-à-vis the CAD and the jury’s out regarding my future positioning regarding the AUD and GBP. I am seeking confirmation.\r\n\r\nEverything tends to go on hold to let the effects of NFP work its way through the markets. The challenge at the moment is by the time the effects of NFP gravitate down through pricing we are then entering a “silly season” for trading Forex.\r\n\r\n<strong><u>THE CAD:</u></strong>\r\n<u>EXISTING LIVE TRADES</u>: - 6 x live short USD/CAD trades, plus the 6 trades (3 x short / 3 x long) additional trades that form the HEDGE.\r\n\r\n<u>LIMIT ORDERS</u>: - 1 x CAD/JPY long trade.\r\n\r\n<u>MY PLAN:</u>  - To exit the HEDGE profitably.\r\n\r\n&nbsp;\r\n\r\n<strong><u>THE NZD</u></strong>:\r\n\r\n<u>EXISTING LIVE TRADES</u>: - Currently I have 5 x live long AUD/NZD trades, and a NZD/JPY short trade in play.\r\n\r\n<u>LIMIT ORDERS</u>: -  I have 4 more AUD/NZD long trades in position, plus a further short NZD/JPY trade.\r\n\r\n<u>MY PLAN:</u> - I want to consolidate this position into the year end. However, I will be looking if it is possible to remove some RISK.\r\n\r\n&nbsp;\r\n\r\n<u>4:4. CURRENT LIVE TRADES &amp; LIMIT ORDERS:</u><u>\r\n</u>\r\n\r\nCURRENT LIVE TRADES:\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/LIVE-10122017.png\"><img class=\"aligncenter size-large wp-image-10511\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/LIVE-10122017-831x1024.png\" alt=\"\" width=\"831\" height=\"1024\" /></a>\r\n\r\nCURRENT LIMIT ORDER TRADES:\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/LIMIT-10122017.png\"><img class=\"aligncenter size-large wp-image-10510\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/LIMIT-10122017-1024x993.png\" alt=\"\" width=\"1024\" height=\"993\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n<u>4:5. FX BROKER NEWS with their MARKET FEEDBACK:</u>\r\n\r\nNothing really new to report for this section other than the competition for new business is intensifying.\r\n\r\nOne thing to note is that I am receiving a lot of spam about BITCOIN and I know some brokers are now offering BITCOIN to trade. Personally, I have NOT even touched a BITCOIN chart.\r\n\r\nFrom an FX perspective brokers appear to be fumbling over what can they do to add value. The differentiation approach appears lost!\r\n\r\nThis is because when times were good they did not try to retain clients. Then lots of millionaires set up their own white label brokers which diluted the client base. What was a great idea to add “FREE &amp; CLEAR” to the bottom line has to a large extent back-fired.\r\n\r\nM and A activity will be what happens in Europe next year in my opinion as the competition for new clients is fierce.\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n<ol start=\"5\">\r\n 	<li><strong> THE PREMIUM SERVICE:</strong></li>\r\n</ol>\r\nThe PREMIUM SERVICE is my own subscriber based Forex support service that offers subscribers my suggested trade set-ups and market commentaries.\r\n\r\n<u>5:1. CURRENT 2017 PREMIUM SERVICE PERFORMANCE:</u>\r\n\r\nPIPS TOTAL DECEMBER TO DATE  2017:       = +536 pips\r\nYEAR TO DATE:                                                      = +13,319 pips\r\n\r\nIn sales mode; I am now planning for 2018. I will have live trades through the Christmas and New Year holidays so I will be on twitter and probably email.\r\n\r\nIn 2018, the PREMIUM SERVICE will return with a new TRADE STYLE option for subscribers to consider and the SUBSCRIBER SECTION of the “DRIVE THRU” will be larger with greater emphasis on sentiment and market direction. Therefore, now is a great time to join the PREMIUM SERVICE get familiar and ready to go with the 2018 launch!!\r\n\r\n<strong> </strong>\r\n\r\n<u>5:2. HOW TO SUBSCRIBE TO THE PREMIUM SERVICE:</u>\r\n\r\nIf you like what you’ve read in this blog and should you want to go a stage further and subscribe to the PREMIUM SERVICE, this can be done on my website <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a> under the Tab SUBSCRIBE HERE.\r\n\r\nSubscribing to the PREMIUM SERVICE is not just about receiving a larger “DRIVE THRU” blog packed with more trading supporting information, my thoughts and ideas. There is much more to a subscription than those things. Check it all out under the tab HISTORY &amp; PERFORMANCE on my website <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a>\r\n\r\nAlternatively, if you prefer to watch a video recording about the PREMIUM SERVICE, click the link below. You will be directed to a 40-minute webinar presentation entitled “AN INTRODUCTION TO THE PREMIUM SERVICE”.\r\n\r\n<a href=\"http://screencasts.weeklyfxdrivethru.com/watch/cb6fqiIAZX\">http://screencasts.weeklyfxdrivethru.com/watch/cb6fqiIAZX</a>\r\n\r\nTo subscribe to THE PREMIUM SERVICE, you will require a valid credit card.\r\n<strong> </strong><strong> </strong>\r\n<ol start=\"6\">\r\n 	<li><strong> THE FINAL SHOTS:</strong><strong> </strong></li>\r\n</ol>\r\n<u>6:1. WANT A FREE PREMIUM SERVICE SUBSCRIPTION:</u>\r\n\r\nIf you like what you have read in this blog and would like the chance to win a FREE SUBSCRIPTION valued at CAD$150.00, all you need to do is subscribe to my FREE NEWSLETTER (this blog), by adding your email address on my welcome page just below my cube logo at <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a>\r\n\r\n<u>6:2. CLOSING THOUGHTS:</u>\r\n\r\nNothing more to add here, I have said enough except,\r\n\r\nAs usual…\r\n\r\nAlways remember longevity in Forex trading can only be achieved through trading with good RISK and MONEY MANAGEMENT, and above all set your position sizes in accordance with the size of your account and allow for some flexibility.\r\n\r\nScott Pickering\r\nThe Pip Accumulator\r\nTwitter: @ThePremService\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/disclaimer/\">http://weeklyfxdrivethru.com/disclaimer/</a>\r\n\r\nBLOG VERSION: #158 PREMIUM SERVICE\r\n10th December 2017\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n&nbsp;', 'RED LINES & DEADLINES =  CAN KICKED DOWN THE ROAD', '', 'inherit', 'closed', 'closed', '', '10526-revision-v1', '', '', '2017-12-09 08:23:51', '2017-12-09 13:23:51', '', 10526, 'https://weeklyfxdrivethru.com/10526-revision-v1/', 0, 'revision', '', 0);
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(10528, 1, '2017-12-09 08:26:27', '2017-12-09 13:26:27', '<strong>\r\n</strong>\r\n<ol>\r\n 	<li><strong>THE FIRST FEW SHOTS:</strong></li>\r\n</ol>\r\nI think that it’s fair to say that economic data has a back seat at the moment. It’s all about geopolitical news and the effect of these news items that are driving the markets at the moment. When I say driving, I really mean pushing one way then the other most times without reason.\r\n\r\nThe markets are not as liquid now as they were 12 months ago, and, this is evidenced as we enter periods like now, where it is largely historically recognized that many large institutions are preparing to run down their books into the year-end ready for the start of next year.\r\n\r\nTRUMP and BREXIT headlines have dominated all week. It seems really strange to write that when the past week included U.S. Non-Farm Payrolls.\r\n\r\nTRUMP goes from controversy to controversy, investigation to investigation and the great negotiator is still without a single campaign promise delivered. The latest from the great negotiator was that we had an 11th hour deal to fund the government for two weeks to prevent a shutdown, as once again the debt ceiling was reached. Not out of the woods yet, a permanent solution is required by December 22nd to enable the government to function moving forward.\r\n\r\nYou could not make this up. It is a reality TV program played out in front of the world with the oval office as the studio.\r\n\r\nWith regards to BREXIT, last Friday we had an agreement from Juncker and Barnier that enough progress had been made on phase one of the negotiations that the UK and the EU negotiators could now move to phase two.\r\n\r\nAt what cost?\r\n<p style=\"text-align: center;\"><strong>RED LINES &amp; DEADLINES = CAN KICKED DOWN THE ROAD</strong><strong> </strong></p>\r\nThe ECB needs success as much as Theresa May with the RED LINES and DEADLINES set by both teams ahead of the EU 27 member states 2017 Christmas party aka December Council Meeting.\r\n\r\nThe ECB therefore did what they are master of… FUDGING, to you and me it’s also known as KICKIN’THE CAN DOWN THE ROAD.\r\n\r\nIt looks like the Irish border issue has been kicked down the road. We were provided with very little detail and this was the stumbling block. All parties, Theresa May (UK PM…by a thread), Michel Barnier (EU Chief Negotiator), Jean Claude Junker (President of the EU Commission), Leo Varadkar (IRISH PM) and Arlene Foster (DUP) placed a positive spin on the fact enough progress had been made but very light on specifics.\r\n\r\nThe fact that both Barnier and Juncker had broad smiles in the press conferences that followed the announcement, makes me think that the UK was screwed. This will no doubt roll on and there will be fallout, I think that’s a given.\r\n\r\nFrom an FX perspective, the trading around the BREXIT agreement was no more than a buy the rumour sell the news event. Cable basically nosedived. After all was said and done it moved over 140 pips lower from the highs at one point.\r\n\r\n<strong><u>NOTE:</u></strong>  With regards to cables move lower, this was more than severe profit taking in my opinion.\r\n\r\nFinally, …\r\n\r\nI picked this up out of my twitter feed last week…. made me giggle.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/TWITTER-NOTE-10122017.png\"><img class=\"aligncenter size-large wp-image-10507\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/TWITTER-NOTE-10122017-1024x929.png\" alt=\"\" width=\"1024\" height=\"929\" /></a>\r\n\r\n<strong> </strong>\r\n<ol start=\"2\">\r\n 	<li><strong>MY (THE PREMIUM SERIVICE) TRADING LAST WEEK:</strong></li>\r\n</ol>\r\nI spent most of last week writing to PREMIUM SERVICE subscribers about how I wanted to reduce RISK ahead of NFP. I am pleased to say, I cut out lots of trades before the monthly lottery day aka NFP! I was very successful in reducing what I call circumstantial RISK prior to the NFP data release. I just had to manage my longer-term positions of AUD/NZD and USD/CAD.\r\n\r\nI did not as I indicated to PREMIUM SERVICE subscribers trade NFP. I find that I only get annoyed and frustrated with NFP moves which linger into and hover over the weekends. This may be more of thing of the past but I just hate the knee-jerk moves and then two/ three hours of a chop fest that follows. It just does not suit my style at all.\r\n\r\nTrading this month so far has been a little strange. I am conscious that I want to reduce RISK heading into the Christmas holidays. This coming week is, in my opinion, the last week of this year with decent liquidity and I do not want to be carrying multiple trades forward or having to manage a huge quantity over the Christmas holidays.\r\n\r\nEconomic and Central Bank data this week makes it a huge week of importance as well. At the same time, I realise that most of my core positions of the USD/CAD and AUD/NZD will be probably be carried forward into 2018. I have a few USD/CAD trades that I will unload next week. I expect my pip net profit for 2017 to lie a little lower than current levels once I cull!\r\n\r\n<u>PERFORMANCE 2017 TO DATE:</u>\r\n\r\nDecember 2017 net TOTAL:     +536 net pips\r\n2017 YEAR TO DATE:                +13,319 net pips\r\n\r\nIn sales mode; I am now planning for 2018. I will have live trades through the Christmas and New Year holidays so I will be on twitter and probably email.\r\n\r\nIn 2018, the PREMIUM SERVICE will return with a new TRADE STYLE option for subscribers to consider and the SUBSCRIBER SECTION of the “DRIVE THRU” will be larger with greater emphasis on sentiment and market direction. Therefore, now is a great time to join the PREMIUM SERVICE get familiar and ready to go with the 2018 launch!!\r\n\r\n<strong> </strong><strong> </strong>\r\n<ol start=\"3\">\r\n 	<li><strong>THE FX MARKET PLACE THIS WEEK:</strong></li>\r\n</ol>\r\n<u>\r\n3:1. THIS WEEK’S ECONOMIC DATA RELEASES:</u>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/ECON-DATA-10122017.png\"><img class=\"aligncenter size-large wp-image-10508\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/ECON-DATA-10122017-1024x985.png\" alt=\"\" width=\"1024\" height=\"985\" /></a>\r\n\r\n<u>\r\n3:2. MY THOUGHTS ON THIS WEEK’S ECONOMIC DATA:</u>\r\n\r\nThis week I would say is probably one of if not the most important weeks for trading FX in 2017. We should get more than a feeling for direction into early 2018 given the information that should be provided.\r\n\r\nWe have Central Bank interest rate decisions and market commentaries from the FED, ECB, BOE and SNB.\r\n\r\nWe also have, Consumer Prices from the U.S. and the UK, Jobs Data from Australia, Average Earnings Data in the UK plus Producer Prices and Retail Sales data from the U.S. It is without doubt a packed week.\r\n\r\nThe most important part from my perspective however is to hear about any changes in Central Bank monetary policies moving into 2018.\r\n\r\nIn no particular order: -\r\n\r\n<strong><u>GBP:</u></strong><u> CPi, AVERAGE EARNINGS, RETAIL SALES &amp; THE BOE</u>.\r\n\r\nI do not for a minute believe that Mark Carney or any members of the MPC will be looking to amend interest rates, however, when the BOE announces on Thursday, I do expect that by that time we should have a pretty good idea about the state of the UK economy.\r\n\r\nThere is still inflation in the UK and CPI on Tuesday will give us the nod on whether it has topped out or not. The last reading was 3.0%.\r\n\r\nAverage Earnings is one that will be watched very, very closely. With inflation at 3.0% last time around earnings were lagging at 2.2%. For it to be a HAPPY CHRISTMAS the BOE and the government will at least want the numbers to match or be very close.\r\n\r\nRetail Sales should be positive and a beat. If a country cannot have a good retail sales number leading up to Christmas, it never will.\r\n\r\nInterest rates should remain at 0.50% and the MPC vote at 7-2. Any deviations from these numbers and the cable will be off running around like a headless chicken.\r\n\r\nGiven the “low on details” BREXIT phase one deal completed last Friday, I am once again having mixed views on the GBP.\r\n\r\nThis week’s data is therefore crucial to me moving forward.\r\n\r\n<strong><u>\r\nUSD:</u></strong><u> CPi, PPi, RETAIL SALES and the FOMC.</u>\r\n\r\nI am just not sure what to make of the USD at the moment. My brain tells me one thing and my gut another. I have read a lot of analyst reports for 2018 and there are institutions expecting 3 possibly even 4 further interest rate increases on top of the one due this week, which would take the U.S. FED Funds Rate to 1.50%.\r\n\r\nThis time next year it could be ready to move to 2.50%.\r\n\r\nWhat is at the back of my mind is that there is NO INFLATION around. Last week’s Average Hourlies released at the same time as the NFP data was once again missing signs of inflation.\r\n\r\nThis week CPi needs to beat 0.1% to show that there is some life in the economy vis-à-vis inflation. Producer prices and Retail Sales need to show growth as well. This has been lacking more or less of late. With this as a backdrop I just cannot see multiple rate hikes on the horizon. This must be a fear for the FED moving forward. All this talk of transitory stands for nothing it would appear.\r\n\r\nSo, Janet Yellen has her final Press Conference this week and she will announce a 0.25% rate increase. If the FED does not raise there will be blood!\r\n\r\n&nbsp;\r\n\r\n<strong><u>EUR:</u></strong><u> INTEREST RATE ANNOUNCEMENT and PRESS CONFERENCE.</u>\r\n\r\nThe final Central Bank announcement of the week is Mario Draghi at the ECB. Fair play to Mario Draghi of late, at all speeches he has watched his “p’s and q’s” very closely.\r\n\r\nIt looks from a trading perceptive that to keep a lid on the single currencies strength below 1.2000 is key objective, both he and the ECB council members will be happy that recent policy initiatives have worked out very well putting a cap on EURO strength.\r\n\r\nI suspect that Draghi will be popping the Dom Perignon should the FED raise rates next Wednesday and the USD strengthen across the board, ahead of his press conference the following day.\r\n\r\nI am expecting a boring press conference and speech from Draghi. Happy Christmas, thanks for coming there are mince pies for everyone at the back of the room type of stuff. But… you just never know with the ECB. There is a history of council members breaking ranks and noting their dissent to undermine Mario Draghi. For this reason, this week, this event cannot be missed.\r\n\r\n&nbsp;\r\n\r\n<u>3:3. USD MAJORS – SUPPORT &amp; RESISTANCE with BIAS:</u>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/TCHART-10122017.png\"><img class=\"aligncenter size-large wp-image-10509\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/TCHART-10122017-1024x889.png\" alt=\"\" width=\"1024\" height=\"889\" /></a>\r\n\r\n&nbsp;\r\n\r\n<u>3:4. USD – TRADING CHARTS: </u>\r\n\r\nMore often than not I will use DAILY CHARTS for my analysis. My commentary and thoughts for each trading pair are above the charts.\r\n\r\nCANDLE ANALYSIS: I have now added my thoughts based on the closing daily candle to the weeks trading.\r\n\r\n&nbsp;\r\n\r\n<strong>\r\n<u>EUR/USD:</u>\r\n</strong>\r\nDAILY CLOSING CANDLE: BULLISH\r\n\r\nThe single currency has been in sell mode this past week, with USD strength returning to the markets ahead of the anticipated rate increase from the FOMC this coming Wednesday.\r\n\r\nSupport at 61.8% Fibonacci level of 1.1701 looks to be acting like a “Star Trek” tractor beam sucking the pair lower. I see no reason why this trend lower should stop in the run up to the FOMC. Below 1.1701, the horizontal support / resistance level around 1.1650-60 is next up. This could be a great level ahead from which a reversal could start.\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/EURUSD-D-10122017.png\"><img class=\"aligncenter size-large wp-image-10519\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/EURUSD-D-10122017-1024x534.png\" alt=\"\" width=\"1024\" height=\"534\" /></a>\r\n\r\n&nbsp;\r\n\r\n<strong><u>GBP/USD:</u></strong>\r\n\r\nDAILY CLOSING CANDLE: VERY BEARISH\r\n\r\nRight now… I am not sure that whatever pattern or measured move, pivot point, Fibonacci level etc. you think about or can see on a chart means too much for the next few days. This pair will be driven by political news rather than economic news or technical data.\r\n\r\nLooking at the chart below, 1.3340 looks to have been an area where buyers and sellers have come together in the past to compete over directional control.\r\n\r\nRecently, I had been long this pair and quite bullish looking forward. After the BREXIT phase one deal (of sorts) I think there are so many questions unanswered that it is hard to remain bullish. The uncertainties surrounding the BREXIT to a large extent still remain, and frankly when you consider arriving at stage one “the easy way” has been like drawing blood from a stone… The next phase includes trade agreements so it can only be harder in my opinion.\r\n\r\nWe have a bull flag on the chart but I just cannot take it seriously at the moment.\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/GBPUSD-D-10122017.png\"><img class=\"aligncenter size-large wp-image-10520\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/GBPUSD-D-10122017-1024x534.png\" alt=\"\" width=\"1024\" height=\"534\" /></a>\r\n\r\n<strong><u>AUD/USD:</u></strong>\r\n\r\nDAILY CLOSING CANDLE: BEARISH\r\n\r\nWe have a double top pattern in play.\r\n\r\nFundamentally some comments from the RBA make me think that the bottom may have been in around the 0.7500 level. But last week on great data the AUD/USD was rejected at 0.7640 and now following USD strength we have slipped below the 0.7520 level, and broken back to re-test.\r\n\r\nThis means in usual trading conditions that the double top measured move should be in play down to 0.7420.\r\n\r\nPersonally, in my opinion the markets are twitchy at the moment, at times brutal and commodity currencies have been acting independently of the EUR/USD so I am not convinced that this move will happen.\r\n\r\nObviously, a break back above 0.7520-40 places the move in doubt.\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/AUDUSD-D-10122017.png\"><img class=\"aligncenter size-large wp-image-10518\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/AUDUSD-D-10122017-1024x534.png\" alt=\"\" width=\"1024\" height=\"534\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n<strong><u>NZD/USD:</u></strong>\r\n\r\nDAILY CLOSING CANDLE: BEARISH (INVERTED HAMMER)<strong><u>\r\n</u></strong>\r\nIf you like to play “ping pong” you must love this pair at the moment. My thoughts are that we are heading to the John Key low of 0.6600. It just seems to be taking an eternity.\r\n\r\nLast week some words from Grant aka “Frank (Some Central Banks do have them)” Spencer, stopped the Kiwi’s move lower.\r\n\r\nFor now we are range bound 0.6780 to 0.6960.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/NZDUSD-D-11122017.png\"><img class=\"aligncenter size-large wp-image-10521\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/NZDUSD-D-11122017-1024x534.png\" alt=\"\" width=\"1024\" height=\"534\" /></a>\r\n\r\n&nbsp;\r\n\r\n<strong><u>USD/CAD:</u></strong>\r\n\r\nDAILY CLOSING CANDLE: INDECISION (SPINNING TOP)\r\n\r\nBugger…\r\n\r\nI am HEDGED this pair and short some more!!  Sooner rather than later I am going to have to make the TRADE DECISION. I still have capacity before I reach my RISK TOLERANCE limit so I will wait for now, but it annoys me every time I open up the broker account that trades are inside. Maybe its best not to open that broker account!!\r\n\r\nIt looked to me originally that a confluence of Fibonacci levels would have held this pair at 1.2800. Next was 1.2840 and now my thoughts are 1.12910 the recent highs although my fears are that 1.3000 looms overhead….\r\n\r\nBelow 1.2800 gives the bears some optimism moving forward, 1.2750 is definitely greater comfort but around 1.2850 I can only see higher…argh!!\r\n\r\nThe chart below shows the QUAD TOP measured move. That has not yet played out!!\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/USDCAD-D-10122017.png\"><img class=\"aligncenter size-large wp-image-10522\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/USDCAD-D-10122017-1024x534.png\" alt=\"\" width=\"1024\" height=\"534\" /></a>\r\n\r\n&nbsp;\r\n\r\n<strong><u>USD/CHF:</u></strong>\r\n\r\nDAILY CLOSING CANDLE: BEARISH (SHOOTING STAR)<strong>\r\n</strong>\r\nThe BULL FLAG from last week is still in play. However, it’s a nasty closing candle, which indicates a direction change.\r\n\r\nOne has to be cautious here, we are still inside the pennant but the candle indicates a bearish move.\r\n\r\nSUPPORT at 0.9740\r\n\r\nRESISTANCE at 1.0000\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/USDCHF-D-10122017.png\"><img class=\"aligncenter size-large wp-image-10523\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/USDCHF-D-10122017-1024x534.png\" alt=\"\" width=\"1024\" height=\"534\" /></a>\r\n\r\n&nbsp;\r\n\r\n<strong><u>USD/JPY:</u></strong>\r\n\r\nDAILY CLOSING CANDLE: BULLISH<u>\r\n</u>\r\nWith so many investigations surrounding TRUMP and the geopolitical tension with which he is associated, unless you are short this pair I do not think it would be prudent to trade it, no matter how bullish it looks to the long side.\r\n\r\nThe BEAR FLAG is probably too long vis-à-vis the flag pole length and should NOT be taken seriously. I put it there just to show how powerful upward moves can be at a time of so much confusion regarding the U.S. policies at home and internationally.\r\n\r\nBelow 110.80 obviously get bears well in control but that is a long way away now. We have retraced more than the 61.8% off the last high to low move.\r\n\r\nI would leave well alone but for the addicted top pickers the 76.4% Fibonacci at 113.80 may offer a try with an entry short with a tight stop.\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/USDJPY-D-10122017.png\"><img class=\"aligncenter size-large wp-image-10524\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/USDJPY-D-10122017-1024x534.png\" alt=\"\" width=\"1024\" height=\"534\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n<u>3:5. MY THOUGHTS ON HOW TO PLAY FX THIS WEEK:</u>\r\n\r\nThis week is loaded.\r\n\r\nI am probably going to focus more on exiting existing trades than entering new ones. I am not saying that my work for 2017 is complete but with the FED, ECB, BOE and SNB all on the floor this week plus a plethora of inflation data from the UK and U.S. one has to be lighter than usual with trades.\r\n\r\nPLUS: - This week liquidity will be starting to dry up.\r\n\r\nIf I look at the USD, despite all my rumblings earlier in this blog we have the greatest trading directional sentiment alignment of the majors for a long, long time. That said, personally for the most part, I am going to stay away from USD related pairs.\r\n\r\nTrading cross rates with lower liquidity also brings with it greater RISK even if you still reduce your position sizes.\r\n\r\nI expect that there will be more fallout from BREXIT and TRUMPS antics will obviously continue, why would his character change?\r\n\r\nIt sounds like I am closing the doors on 2017. Monday after the first Asian and European sessions of the week, I will review charts but not until then.\r\n\r\nSunday evening when the trading week starts its bound to be BITCOIN this and BITCOIN that as the focus as the futures exchange in the crypto comes on line. I expect things to get very “crunchy” as shorting comes into play.\r\n\r\nPushed on pairs to look at, I would say EUR/JPY, EUR/GBP, EUR/CHF and maybe AUD related pairs.\r\n\r\nJust remember we are in December, you cannot expect as much as if you were trading in say April or May. Trading expectations need to be wound back.\r\n\r\nAs a junkie on BREXIT news I will probably find myself reading lots of Sunday / weekend reviews and reports on what’s next!\r\n\r\n&nbsp;\r\n<ol start=\"4\">\r\n 	<li><strong> PREMIUM SERVICE SUBSCRIBERS ONLY:</strong></li>\r\n</ol>\r\n(Only SUBSCRIBERS to the PREMIUM SERVICE can view this section of the BLOG)<strong> </strong>\r\n\r\n<u>4:1. TRADING REVIEW:</u>\r\nOK; you guys may or may not agree with this statement but of late this market is most of the time just brutal.\r\n\r\nAs we enter a silly week of lots of major news items and events, we also start the wind down of liquidity and market participants.\r\n\r\nThe week was dominated by the BREXIT news trails, with most of my pips being generated via GBP related pairs.\r\n\r\nThe most frustrating time of the week was….\r\n\r\nI was ready on NFP day at 1.2804 to cut 6 x USD/CAD shorts and I hesitated believing that I would get another chance on a second push, which never materialized…. argh!!\r\n\r\nNothing much really to say this week, lots of hours in front of screens waiting, watching, waiting some more, it was painful at times. There were no set ups that were within striking distance of the market pricing so I put out lots of set ups based upon a future “hopeful” market move that just did not happen. You get these periods from time to time. The most frustrating aspect is that it is happening ahead of a period well known for thin trading conditions.\r\n\r\n&nbsp;\r\n\r\n<u>\r\n</u><u>4:2. SENTIMENT CHART,</u><u> FUNDAMENTAL &amp; MACRO THOUGHTS</u><u>:</u>\r\n\r\n&nbsp;\r\n\r\nIn the period, up to NFP and after the data was released, the feature in the FX market was USD strength, the exception up until Friday was the cable.\r\n\r\nThe DAILY, WEEKLY &amp; MONTHLY charts across the majors are the best aligned they have been for weeks, not perfect by a long way, yet I have to admit trading never gave me that impression last week. I found direction and sentiment very mixed.\r\n\r\nThis week we hear from the FED, ECB, BOE and SNB. These are the weeks that I like so I can absorb as much as possible about what the key people themselves think rather than the “hangers on”, which is more often the case.\r\n\r\nMy thoughts around Central Bank divergence remains with me and maybe after this week I will be able to flavour trade set ups with this in mind. The problem is I am just NOT convinced that long the USD is the trade moving forward.\r\n\r\nPart of trading that is not often discussed is MIND MANAGEMENT, I may have a blockage that needs sorting out. Hopefully this week I will be convinced with my macro thoughts or bullied into a change of thoughts process!\r\n\r\nLooking at the sentiment chart, since I re-introduced this a few weeks ago this is the most directional it has been. It is NOT perfect symmetry but it\'s the closest for weeks!\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/MKT-SENTIMENT-10122017.png\"><img class=\"aligncenter size-large wp-image-10512\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/MKT-SENTIMENT-10122017-789x1024.png\" alt=\"\" width=\"789\" height=\"1024\" /></a><u>\r\n</u>\r\n\r\n<u>4:3. TRADING PLANS:</u>\r\n\r\n<u>4:3.1. TRADING PLAN OVERVIEW THIS WEEK:</u>\r\n\r\nMy action plan for the week is: -\r\n<ol>\r\n 	<li>Monday morning after the European session, review charts for U.S. / European joint session for FLASH TRADES.</li>\r\n 	<li>Look to structure an exit of USD/CAD individual and HEDGED trades.</li>\r\n 	<li>Digest Central Bank monetary policy statements and add to action plan for Q1 2018.</li>\r\n 	<li>Plan CHF, possibly AUD &amp; GBP trades for Q1 2018, or earlier following Central Bank data this week.</li>\r\n</ol>\r\n<u>4:3.2.  EXISTING CORE TRADES (PLANS &amp; STRATEGIES):</u>\r\n\r\nI am still bearish the NZD. I am “possibly” in short-term denial vis-à-vis the CAD and the jury’s out regarding my future positioning regarding the AUD and GBP. I am seeking confirmation.\r\n\r\nEverything tends to go on hold to let the effects of NFP work its way through the markets. The challenge at the moment is by the time the effects of NFP gravitate down through pricing we are then entering a “silly season” for trading Forex.\r\n\r\n<strong><u>THE CAD:</u></strong>\r\n\r\n<u>EXISTING LIVE TRADES</u>: - 6 x live short USD/CAD trades, plus the 6 trades (3 x short / 3 x long) additional trades that form the HEDGE.\r\n\r\n<u>LIMIT ORDERS</u>: - 1 x CAD/JPY long trade.\r\n\r\n<u>MY PLAN:</u>  - To exit the HEDGE profitably.\r\n\r\n&nbsp;\r\n\r\n<strong><u>THE NZD</u></strong>:\r\n\r\n<u>EXISTING LIVE TRADES</u>: - Currently I have 5 x live long AUD/NZD trades, and a NZD/JPY short trade in play.\r\n\r\n<u>LIMIT ORDERS</u>: -  I have 4 more AUD/NZD long trades in position, plus a further short NZD/JPY trade.\r\n\r\n<u>MY PLAN:</u> - I want to consolidate this position into the year end. However, I will be looking if it is possible to remove some RISK.\r\n\r\n&nbsp;\r\n\r\n<u>4:4. CURRENT LIVE TRADES &amp; LIMIT ORDERS:</u><u>\r\n</u>\r\n\r\nCURRENT LIVE TRADES:\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/LIVE-10122017.png\"><img class=\"aligncenter size-large wp-image-10511\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/LIVE-10122017-831x1024.png\" alt=\"\" width=\"831\" height=\"1024\" /></a>\r\n\r\nCURRENT LIMIT ORDER TRADES:\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/LIMIT-10122017.png\"><img class=\"aligncenter size-large wp-image-10510\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/LIMIT-10122017-1024x993.png\" alt=\"\" width=\"1024\" height=\"993\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n<u>4:5. FX BROKER NEWS with their MARKET FEEDBACK:</u>\r\n\r\nNothing really new to report for this section other than the competition for new business is intensifying.\r\n\r\nOne thing to note is that I am receiving a lot of spam about BITCOIN and I know some brokers are now offering BITCOIN to trade. Personally, I have NOT even touched a BITCOIN chart.\r\n\r\nFrom an FX perspective brokers appear to be fumbling over what can they do to add value. The differentiation approach appears lost!\r\n\r\nThis is because when times were good they did not try to retain clients. Then lots of millionaires set up their own white label brokers which diluted the client base. What was a great idea to add “FREE &amp; CLEAR” to the bottom line has to a large extent back-fired.\r\n\r\nM and A activity will be what happens in Europe next year in my opinion as the competition for new clients is fierce.\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n<ol start=\"5\">\r\n 	<li><strong> THE PREMIUM SERVICE:</strong></li>\r\n</ol>\r\nThe PREMIUM SERVICE is my own subscriber based Forex support service that offers subscribers my suggested trade set-ups and market commentaries.\r\n\r\n<u>5:1. CURRENT 2017 PREMIUM SERVICE PERFORMANCE:</u>\r\n\r\nPIPS TOTAL DECEMBER TO DATE  2017:       = +536 pips\r\nYEAR TO DATE:                                                      = +13,319 pips\r\n\r\nIn sales mode; I am now planning for 2018. I will have live trades through the Christmas and New Year holidays so I will be on twitter and probably email.\r\n\r\nIn 2018, the PREMIUM SERVICE will return with a new TRADE STYLE option for subscribers to consider and the SUBSCRIBER SECTION of the “DRIVE THRU” will be larger with greater emphasis on sentiment and market direction. Therefore, now is a great time to join the PREMIUM SERVICE get familiar and ready to go with the 2018 launch!!\r\n\r\n<strong> </strong>\r\n\r\n<u>5:2. HOW TO SUBSCRIBE TO THE PREMIUM SERVICE:</u>\r\n\r\nIf you like what you’ve read in this blog and should you want to go a stage further and subscribe to the PREMIUM SERVICE, this can be done on my website <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a> under the Tab SUBSCRIBE HERE.\r\n\r\nSubscribing to the PREMIUM SERVICE is not just about receiving a larger “DRIVE THRU” blog packed with more trading supporting information, my thoughts and ideas. There is much more to a subscription than those things. Check it all out under the tab HISTORY &amp; PERFORMANCE on my website <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a>\r\n\r\nAlternatively, if you prefer to watch a video recording about the PREMIUM SERVICE, click the link below. You will be directed to a 40-minute webinar presentation entitled “AN INTRODUCTION TO THE PREMIUM SERVICE”.\r\n\r\n<a href=\"http://screencasts.weeklyfxdrivethru.com/watch/cb6fqiIAZX\">http://screencasts.weeklyfxdrivethru.com/watch/cb6fqiIAZX</a>\r\n\r\nTo subscribe to THE PREMIUM SERVICE, you will require a valid credit card.\r\n<strong> </strong><strong> </strong>\r\n<ol start=\"6\">\r\n 	<li><strong> THE FINAL SHOTS:</strong><strong> </strong></li>\r\n</ol>\r\n<u>6:1. WANT A FREE PREMIUM SERVICE SUBSCRIPTION:</u>\r\n\r\nIf you like what you have read in this blog and would like the chance to win a FREE SUBSCRIPTION valued at CAD$150.00, all you need to do is subscribe to my FREE NEWSLETTER (this blog), by adding your email address on my welcome page just below my cube logo at <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a>\r\n\r\n<u>6:2. CLOSING THOUGHTS:</u>\r\n\r\nNothing more to add here, I have said enough except,\r\n\r\nAs usual…\r\n\r\nAlways remember longevity in Forex trading can only be achieved through trading with good RISK and MONEY MANAGEMENT, and above all set your position sizes in accordance with the size of your account and allow for some flexibility.\r\n\r\nScott Pickering\r\nThe Pip Accumulator\r\nTwitter: @ThePremService\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/disclaimer/\">http://weeklyfxdrivethru.com/disclaimer/</a>\r\n\r\nBLOG VERSION: #158 PREMIUM SERVICE\r\n10th December 2017\r\n\r\n&nbsp;', 'RED LINES & DEADLINES =  CAN KICKED DOWN THE ROAD', '', 'inherit', 'closed', 'closed', '', '10526-revision-v1', '', '', '2017-12-09 08:26:27', '2017-12-09 13:26:27', '', 10526, 'https://weeklyfxdrivethru.com/10526-revision-v1/', 0, 'revision', '', 0);
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(10535, 1, '2017-12-09 08:58:19', '2017-12-09 13:58:19', '<strong>\r\n</strong>\r\n<ol>\r\n 	<li><span style=\"font-size: 16pt;\"><strong>THE FIRST FEW SHOTS:</strong></span></li>\r\n</ol>\r\nI think that it’s fair to say that economic data has a back seat at the moment. It’s all about geopolitical news and the effect of these news items that are driving the markets at the moment. When I say driving, I really mean pushing one way then the other most times without reason.\r\n\r\nThe markets are not as liquid now as they were 12 months ago, and, this is evidenced as we enter periods like now, where it is largely historically recognized that many large institutions are preparing to run down their books into the year-end ready for the start of next year.\r\n\r\nTRUMP and BREXIT headlines have dominated all week. It seems really strange to write that when the past week included U.S. Non-Farm Payrolls.\r\n\r\nTRUMP goes from controversy to controversy, investigation to investigation and the great negotiator is still without a single campaign promise delivered. The latest from the great negotiator was that we had an 11th hour deal to fund the government for two weeks to prevent a shutdown, as once again the debt ceiling was reached. Not out of the woods yet, a permanent solution is required by December 22nd to enable the government to function moving forward.\r\n\r\nYou could not make this up. It is a reality TV program played out in front of the world with the oval office as the studio.\r\n\r\nWith regards to BREXIT, last Friday we had an agreement from Juncker and Barnier that enough progress had been made on phase one of the negotiations that the UK and the EU negotiators could now move to phase two.\r\n\r\nAt what cost?\r\n<p style=\"text-align: center;\"><strong>RED LINES &amp; DEADLINES = CAN KICKED DOWN THE ROAD</strong></p>\r\nThe ECB needs success as much as Theresa May with the RED LINES and DEADLINES set by both teams ahead of the EU 27 member states 2017 Christmas party aka December Council Meeting.\r\n\r\nThe ECB therefore did what they are master of… FUDGING, to you and me it’s also known as KICKIN’THE CAN DOWN THE ROAD.\r\n\r\nIt looks like the Irish border issue has been kicked down the road. We were provided with very little detail and this was the stumbling block. All parties, Theresa May (UK PM…by a thread), Michel Barnier (EU Chief Negotiator), Jean Claude Junker (President of the EU Commission), Leo Varadkar (IRISH PM) and Arlene Foster (DUP) placed a positive spin on the fact enough progress had been made but very light on specifics.\r\n\r\nThe fact that both Barnier and Juncker had broad smiles in the press conferences that followed the announcement, makes me think that the UK was screwed. This will no doubt roll on and there will be fallout, I think that’s a given.\r\n\r\nFrom an FX perspective, the trading around the BREXIT agreement was no more than a buy the rumour sell the news event. Cable basically nosedived. After all was said and done it moved over 140 pips lower from the highs at one point.\r\n\r\n<strong><u>NOTE:</u></strong>  With regards to cables move lower, this was more than severe profit taking in my opinion.\r\n\r\nFinally, …\r\n\r\nI picked this up out of my twitter feed last week…. made me giggle.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/TWITTER-NOTE-10122017.png\"><img class=\"aligncenter size-large wp-image-10507\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/TWITTER-NOTE-10122017-1024x929.png\" alt=\"\" width=\"1024\" height=\"929\" /></a>\r\n\r\n&nbsp;\r\n\r\n<strong> </strong>\r\n<ol start=\"2\">\r\n 	<li><span style=\"font-size: 16pt;\"><strong>MY (THE PREMIUM SERIVICE) TRADING LAST WEEK:</strong></span></li>\r\n</ol>\r\nI spent most of last week writing to PREMIUM SERVICE subscribers about how I wanted to reduce RISK ahead of NFP. I am pleased to say, I cut out lots of trades before the monthly lottery day aka NFP! I was very successful in reducing what I call circumstantial RISK prior to the NFP data release. I just had to manage my longer-term positions of AUD/NZD and USD/CAD.\r\n\r\nI did not as I indicated to PREMIUM SERVICE subscribers trade NFP. I find that I only get annoyed and frustrated with NFP moves which linger into and hover over the weekends. This may be more of thing of the past but I just hate the knee-jerk moves and then two/ three hours of a chop fest that follows. It just does not suit my style at all.\r\n\r\nTrading this month so far has been a little strange. I am conscious that I want to reduce RISK heading into the Christmas holidays. This coming week is, in my opinion, the last week of this year with decent liquidity and I do not want to be carrying multiple trades forward or having to manage a huge quantity over the Christmas holidays.\r\n\r\nEconomic and Central Bank data this week makes it a huge week of importance as well. At the same time, I realise that most of my core positions of the USD/CAD and AUD/NZD will be probably be carried forward into 2018. I have a few USD/CAD trades that I will unload next week. I expect my pip net profit for 2017 to lie a little lower than current levels once I cull!\r\n\r\n<u>PERFORMANCE 2017 TO DATE:</u>\r\n\r\nDecember 2017 net TOTAL:     +536 net pips\r\n2017 YEAR TO DATE:                +13,319 net pips\r\n\r\nIn sales mode; I am now planning for 2018. I will have live trades through the Christmas and New Year holidays so I will be on twitter and probably email.\r\n\r\nIn 2018, the PREMIUM SERVICE will return with a new TRADE STYLE option for subscribers to consider and the SUBSCRIBER SECTION of the “DRIVE THRU” will be larger with greater emphasis on sentiment and market direction. Therefore, now is a great time to join the PREMIUM SERVICE get familiar and ready to go with the 2018 launch!!\r\n\r\n<strong> </strong><strong> </strong>\r\n<ol start=\"3\">\r\n 	<li><span style=\"font-size: 16pt;\"><strong>THE FX MARKET PLACE THIS WEEK:</strong></span></li>\r\n</ol>\r\n<u>\r\n<span style=\"font-size: 14pt;\">3:1. THIS WEEK’S ECONOMIC DATA RELEASES:</span></u>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/ECON-DATA-10122017.png\"><img class=\"aligncenter size-large wp-image-10508\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/ECON-DATA-10122017-1024x985.png\" alt=\"\" width=\"1024\" height=\"985\" /></a>\r\n\r\n&nbsp;\r\n\r\n<span style=\"font-size: 14pt;\"><u>3:2. MY THOUGHTS ON THIS WEEK’S ECONOMIC DATA:</u></span>\r\n\r\nThis week I would say is probably one of if not the most important weeks for trading FX in 2017. We should get more than a feeling for direction into early 2018 given the information that should be provided.\r\n\r\nWe have Central Bank interest rate decisions and market commentaries from the FED, ECB, BOE and SNB.\r\n\r\nWe also have, Consumer Prices from the U.S. and the UK, Jobs Data from Australia, Average Earnings Data in the UK plus Producer Prices and Retail Sales data from the U.S. It is without doubt a packed week.\r\n\r\nThe most important part from my perspective however is to hear about any changes in Central Bank monetary policies moving into 2018.\r\n\r\nIn no particular order: -\r\n\r\n&nbsp;\r\n\r\n<strong><u>GBP:</u></strong><u> CPi, AVERAGE EARNINGS, RETAIL SALES &amp; THE BOE</u>.\r\n\r\nI do not for a minute believe that Mark Carney or any members of the MPC will be looking to amend interest rates, however, when the BOE announces on Thursday, I do expect that by that time we should have a pretty good idea about the state of the UK economy.\r\n\r\nThere is still inflation in the UK and CPI on Tuesday will give us the nod on whether it has topped out or not. The last reading was 3.0%.\r\n\r\nAverage Earnings is one that will be watched very, very closely. With inflation at 3.0% last time around earnings were lagging at 2.2%. For it to be a HAPPY CHRISTMAS the BOE and the government will at least want the numbers to match or be very close.\r\n\r\nRetail Sales should be positive and a beat. If a country cannot have a good retail sales number leading up to Christmas, it never will.\r\n\r\nInterest rates should remain at 0.50% and the MPC vote at 7-2. Any deviations from these numbers and the cable will be off running around like a headless chicken.\r\n\r\nGiven the “low on details” BREXIT phase one deal completed last Friday, I am once again having mixed views on the GBP.\r\n\r\nThis week’s data is therefore crucial to me moving forward.\r\n\r\n<strong><u>\r\nUSD:</u></strong><u> CPi, PPi, RETAIL SALES and the FOMC.</u>\r\n\r\nI am just not sure what to make of the USD at the moment. My brain tells me one thing and my gut another. I have read a lot of analyst reports for 2018 and there are institutions expecting 3 possibly even 4 further interest rate increases on top of the one due this week, which would take the U.S. FED Funds Rate to 1.50%.\r\n\r\nThis time next year it could be ready to move to 2.50%.\r\n\r\nWhat is at the back of my mind is that there is NO INFLATION around. Last week’s Average Hourlies released at the same time as the NFP data was once again missing signs of inflation.\r\n\r\nThis week CPi needs to beat 0.1% to show that there is some life in the economy vis-à-vis inflation. Producer prices and Retail Sales need to show growth as well. This has been lacking more or less of late. With this as a backdrop I just cannot see multiple rate hikes on the horizon. This must be a fear for the FED moving forward. All this talk of transitory stands for nothing it would appear.\r\n\r\nSo, Janet Yellen has her final Press Conference this week and she will announce a 0.25% rate increase. If the FED does not raise there will be blood!\r\n\r\n&nbsp;\r\n\r\n<strong><u>EUR:</u></strong><u> INTEREST RATE ANNOUNCEMENT and PRESS CONFERENCE.</u>\r\n\r\nThe final Central Bank announcement of the week is Mario Draghi at the ECB. Fair play to Mario Draghi of late, at all speeches he has watched his “p’s and q’s” very closely.\r\n\r\nIt looks from a trading perceptive that to keep a lid on the single currencies strength below 1.2000 is key objective, both he and the ECB council members will be happy that recent policy initiatives have worked out very well putting a cap on EURO strength.\r\n\r\nI suspect that Draghi will be popping the Dom Perignon should the FED raise rates next Wednesday and the USD strengthen across the board, ahead of his press conference the following day.\r\n\r\nI am expecting a boring press conference and speech from Draghi. Happy Christmas, thanks for coming there are mince pies for everyone at the back of the room type of stuff. But… you just never know with the ECB. There is a history of council members breaking ranks and noting their dissent to undermine Mario Draghi. For this reason, this week, this event cannot be missed.\r\n\r\n&nbsp;\r\n\r\n<span style=\"font-size: 14pt;\"><u>3:3. USD MAJORS – SUPPORT &amp; RESISTANCE with BIAS:</u></span>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/TCHART-10122017.png\"><img class=\"aligncenter size-large wp-image-10509\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/TCHART-10122017-1024x889.png\" alt=\"\" width=\"1024\" height=\"889\" /></a>\r\n\r\n&nbsp;\r\n\r\n<span style=\"font-size: 14pt;\"><u>3:4. USD – TRADING CHARTS: </u></span>\r\n\r\nMore often than not I will use DAILY CHARTS for my analysis. My commentary and thoughts for each trading pair are above the charts.\r\n\r\nCANDLE ANALYSIS: I have now added my thoughts based on the closing daily candle to the weeks trading.\r\n\r\n<strong>\r\n<u>EUR/USD:</u>\r\n</strong>\r\nDAILY CLOSING CANDLE: BULLISH\r\n\r\nThe single currency has been in sell mode this past week, with USD strength returning to the markets ahead of the anticipated rate increase from the FOMC this coming Wednesday.\r\n\r\nSupport at 61.8% Fibonacci level of 1.1701 looks to be acting like a “Star Trek” tractor beam sucking the pair lower. I see no reason why this trend lower should stop in the run up to the FOMC. Below 1.1701, the horizontal support / resistance level around 1.1650-60 is next up. This could be a great level ahead from which a reversal could start.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/EURUSD-D-10122017.png\"><img class=\"aligncenter size-large wp-image-10519\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/EURUSD-D-10122017-1024x534.png\" alt=\"\" width=\"1024\" height=\"534\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n<strong><u>GBP/USD:</u></strong>\r\n\r\nDAILY CLOSING CANDLE: VERY BEARISH\r\n\r\nRight now… I am not sure that whatever pattern or measured move, pivot point, Fibonacci level etc. you think about or can see on a chart means too much for the next few days. This pair will be driven by political news rather than economic news or technical data.\r\n\r\nLooking at the chart below, 1.3340 looks to have been an area where buyers and sellers have come together in the past to compete over directional control.\r\n\r\nRecently, I had been long this pair and quite bullish looking forward. After the BREXIT phase one deal (of sorts) I think there are so many questions unanswered that it is hard to remain bullish. The uncertainties surrounding the BREXIT to a large extent still remain, and frankly when you consider arriving at stage one “the easy way” has been like drawing blood from a stone… The next phase includes trade agreements so it can only be harder in my opinion.\r\n\r\nWe have a bull flag on the chart but I just cannot take it seriously at the moment.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/GBPUSD-D-10122017.png\"><img class=\"aligncenter size-large wp-image-10520\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/GBPUSD-D-10122017-1024x534.png\" alt=\"\" width=\"1024\" height=\"534\" /></a>\r\n\r\n&nbsp;\r\n\r\n<strong><u>AUD/USD:</u></strong>\r\n\r\nDAILY CLOSING CANDLE: BEARISH\r\n\r\nWe have a double top pattern in play.\r\n\r\nFundamentally some comments from the RBA make me think that the bottom may have been in around the 0.7500 level. But last week on great data the AUD/USD was rejected at 0.7640 and now following USD strength we have slipped below the 0.7520 level, and broken back to re-test.\r\n\r\nThis means in usual trading conditions that the double top measured move should be in play down to 0.7420.\r\n\r\nPersonally, in my opinion the markets are twitchy at the moment, at times brutal and commodity currencies have been acting independently of the EUR/USD so I am not convinced that this move will happen.\r\n\r\nObviously, a break back above 0.7520-40 places the move in doubt.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/AUDUSD-D-10122017.png\"><img class=\"aligncenter size-large wp-image-10518\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/AUDUSD-D-10122017-1024x534.png\" alt=\"\" width=\"1024\" height=\"534\" /></a>\r\n\r\n&nbsp;\r\n\r\n<strong><u>NZD/USD:</u></strong>\r\n\r\nDAILY CLOSING CANDLE: BEARISH (INVERTED HAMMER)<strong><u>\r\n</u></strong>\r\nIf you like to play “ping pong” you must love this pair at the moment. My thoughts are that we are heading to the John Key low of 0.6600. It just seems to be taking an eternity.\r\n\r\nLast week some words from Grant aka “Frank (Some Central Banks do have them)” Spencer, stopped the Kiwi’s move lower.\r\n\r\nFor now we are range bound 0.6780 to 0.6960.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/NZDUSD-D-11122017.png\"><img class=\"aligncenter size-large wp-image-10521\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/NZDUSD-D-11122017-1024x534.png\" alt=\"\" width=\"1024\" height=\"534\" /></a>\r\n\r\n&nbsp;\r\n\r\n<strong><u>USD/CAD:</u></strong>\r\n\r\nDAILY CLOSING CANDLE: INDECISION (SPINNING TOP)\r\n\r\nBugger…\r\n\r\nI am HEDGED this pair and short some more!!  Sooner rather than later I am going to have to make the TRADE DECISION. I still have capacity before I reach my RISK TOLERANCE limit so I will wait for now, but it annoys me every time I open up the broker account that trades are inside. Maybe its best not to open that broker account!!\r\n\r\nIt looked to me originally that a confluence of Fibonacci levels would have held this pair at 1.2800. Next was 1.2840 and now my thoughts are 1.12910 the recent highs although my fears are that 1.3000 looms overhead….\r\n\r\nBelow 1.2800 gives the bears some optimism moving forward, 1.2750 is definitely greater comfort but around 1.2850 I can only see higher…argh!!\r\n\r\nThe chart below shows the QUAD TOP measured move. That has not yet played out!!\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/USDCAD-D-10122017.png\"><img class=\"aligncenter size-large wp-image-10522\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/USDCAD-D-10122017-1024x534.png\" alt=\"\" width=\"1024\" height=\"534\" /></a>\r\n\r\n&nbsp;\r\n\r\n<strong><u>USD/CHF:</u></strong>\r\n\r\nDAILY CLOSING CANDLE: BEARISH (SHOOTING STAR)<strong>\r\n</strong>\r\nThe BULL FLAG from last week is still in play. However, it’s a nasty closing candle, which indicates a direction change.\r\n\r\nOne has to be cautious here, we are still inside the pennant but the candle indicates a bearish move.\r\n\r\nSUPPORT at 0.9740\r\n\r\nRESISTANCE at 1.0000\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/USDCHF-D-10122017.png\"><img class=\"aligncenter size-large wp-image-10523\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/USDCHF-D-10122017-1024x534.png\" alt=\"\" width=\"1024\" height=\"534\" /></a>\r\n\r\n&nbsp;\r\n\r\n<strong><u>USD/JPY:</u></strong>\r\n\r\nDAILY CLOSING CANDLE: BULLISH<u>\r\n</u>\r\nWith so many investigations surrounding TRUMP and the geopolitical tension with which he is associated, unless you are short this pair I do not think it would be prudent to trade it, no matter how bullish it looks to the long side.\r\n\r\nThe BEAR FLAG is probably too long vis-à-vis the flag pole length and should NOT be taken seriously. I put it there just to show how powerful upward moves can be at a time of so much confusion regarding the U.S. policies at home and internationally.\r\n\r\nBelow 110.80 obviously get bears well in control but that is a long way away now. We have retraced more than the 61.8% off the last high to low move.\r\n\r\nI would leave well alone but for the addicted top pickers the 76.4% Fibonacci at 113.80 may offer a try with an entry short with a tight stop.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/USDJPY-D-10122017.png\"><img class=\"aligncenter size-large wp-image-10524\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/USDJPY-D-10122017-1024x534.png\" alt=\"\" width=\"1024\" height=\"534\" /></a>\r\n\r\n&nbsp;\r\n\r\n<span style=\"font-size: 14pt;\"><u>3:5. MY THOUGHTS ON HOW TO PLAY FX THIS WEEK:</u></span>\r\n\r\nThis week is loaded.\r\n\r\nI am probably going to focus more on exiting existing trades than entering new ones. I am not saying that my work for 2017 is complete but with the FED, ECB, BOE and SNB all on the floor this week plus a plethora of inflation data from the UK and U.S. one has to be lighter than usual with trades.\r\n\r\nPLUS: - This week liquidity will be starting to dry up.\r\n\r\nIf I look at the USD, despite all my rumblings earlier in this blog we have the greatest trading directional sentiment alignment of the majors for a long, long time. That said, personally for the most part, I am going to stay away from USD related pairs.\r\n\r\nTrading cross rates with lower liquidity also brings with it greater RISK even if you still reduce your position sizes.\r\n\r\nI expect that there will be more fallout from BREXIT and TRUMPS antics will obviously continue, why would his character change?\r\n\r\nIt sounds like I am closing the doors on 2017. Monday after the first Asian and European sessions of the week, I will review charts but not until then.\r\n\r\nSunday evening when the trading week starts its bound to be BITCOIN this and BITCOIN that as the focus as the futures exchange in the crypto comes on line. I expect things to get very “crunchy” as shorting comes into play.\r\n\r\nPushed on pairs to look at, I would say EUR/JPY, EUR/GBP, EUR/CHF and maybe AUD related pairs.\r\n\r\nJust remember we are in December, you cannot expect as much as if you were trading in say April or May. Trading expectations need to be wound back.\r\n\r\nAs a junkie on BREXIT news I will probably find myself reading lots of Sunday / weekend reviews and reports on what’s next!\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n<ol start=\"4\">\r\n 	<li><span style=\"font-size: 16pt;\"><strong> PREMIUM SERVICE SUBSCRIBERS ONLY:</strong></span></li>\r\n</ol>\r\n(Only SUBSCRIBERS to the PREMIUM SERVICE can view this section of the BLOG)\r\n\r\n<span style=\"font-size: 14pt;\"><u>4:1. TRADING REVIEW:</u></span>\r\n<u>\r\n</u><span style=\"font-size: 14pt;\"><u>4:2. SENTIMENT CHART,</u><u> FUNDAMENTAL &amp; MACRO THOUGHTS</u><u>:\r\n</u></span>\r\n\r\n<span style=\"font-size: 14pt;\"><u>4:3. TRADING PLANS:</u></span>\r\n\r\n<span style=\"font-size: 14pt;\"><u>4:3.1. TRADING PLAN OVERVIEW THIS WEEK:</u></span><u> </u>\r\n\r\n<span style=\"font-size: 14pt;\"><u>4:3.2.  EXISTING CORE TRADES (PLANS &amp; STRATEGIES)</u></span>\r\n\r\n<span style=\"font-size: 14pt;\"><u>4:4. CURRENT LIVE TRADES &amp; LIMIT ORDERS:</u></span>\r\n\r\n<span style=\"font-size: 14pt;\"><u>4:5. FX BROKER NEWS with their MARKET FEEDBACK:</u></span>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n<ol start=\"5\">\r\n 	<li><span style=\"font-size: 16pt;\"><strong> THE PREMIUM SERVICE:</strong></span></li>\r\n</ol>\r\nThe PREMIUM SERVICE is my own subscriber based Forex support service that offers subscribers my suggested trade set-ups and market commentaries.\r\n\r\n<span style=\"font-size: 14pt;\"><u>5:1. CURRENT 2017 PREMIUM SERVICE PERFORMANCE:</u></span>\r\n\r\nPIPS TOTAL DECEMBER TO DATE  2017:       = +536 pips\r\nYEAR TO DATE:                                                      = +13,319 pips\r\n\r\nIn sales mode; I am now planning for 2018. I will have live trades through the Christmas and New Year holidays so I will be on twitter and probably email.\r\n\r\nIn 2018, the PREMIUM SERVICE will return with a new TRADE STYLE option for subscribers to consider and the SUBSCRIBER SECTION of the “DRIVE THRU” will be larger with greater emphasis on sentiment and market direction. Therefore, now is a great time to join the PREMIUM SERVICE get familiar and ready to go with the 2018 launch!!\r\n\r\n<strong> </strong>\r\n\r\n<span style=\"font-size: 14pt;\"><u>5:2. HOW TO SUBSCRIBE TO THE PREMIUM SERVICE:</u></span>\r\n\r\nIf you like what you’ve read in this blog and should you want to go a stage further and subscribe to the PREMIUM SERVICE, this can be done on my website <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a> under the Tab SUBSCRIBE HERE.\r\n\r\nSubscribing to the PREMIUM SERVICE is not just about receiving a larger “DRIVE THRU” blog packed with more trading supporting information, my thoughts and ideas. There is much more to a subscription than those things. Check it all out under the tab HISTORY &amp; PERFORMANCE on my website <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a>\r\n\r\nAlternatively, if you prefer to watch a video recording about the PREMIUM SERVICE, click the link below. You will be directed to a 40-minute webinar presentation entitled “AN INTRODUCTION TO THE PREMIUM SERVICE”.\r\n\r\n<a href=\"http://screencasts.weeklyfxdrivethru.com/watch/cb6fqiIAZX\">http://screencasts.weeklyfxdrivethru.com/watch/cb6fqiIAZX</a>\r\n\r\nTo subscribe to THE PREMIUM SERVICE, you will require a valid credit card.\r\n<strong> </strong>\r\n\r\n<strong> </strong>\r\n<ol start=\"6\">\r\n 	<li><span style=\"font-size: 14pt;\"><strong><span style=\"font-size: 16pt;\"> THE FINAL SHOTS</span>:</strong></span></li>\r\n</ol>\r\n<span style=\"font-size: 14pt;\"><u>6:1. WANT A FREE PREMIUM SERVICE SUBSCRIPTION:</u></span>\r\n\r\nIf you like what you have read in this blog and would like the chance to win a FREE SUBSCRIPTION valued at CAD$150.00, all you need to do is subscribe to my FREE NEWSLETTER (this blog), by adding your email address on my welcome page just below my cube logo at <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a>\r\n\r\n&nbsp;\r\n\r\n<span style=\"font-size: 14pt;\"><u>6:2. CLOSING THOUGHTS:</u></span>\r\n\r\nNothing more to add here, I have said enough except,\r\n\r\nAs usual…\r\n\r\nAlways remember longevity in Forex trading can only be achieved through trading with good RISK and MONEY MANAGEMENT, and above all set your position sizes in accordance with the size of your account and allow for some flexibility.\r\n\r\n&nbsp;\r\n\r\nScott Pickering\r\nThe Pip Accumulator\r\nTwitter: @pipaccumulator\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/disclaimer/\">http://weeklyfxdrivethru.com/disclaimer/</a>\r\n\r\nBLOG VERSION: #262 FREE NEWSLETTER\r\n10th December 2017\r\n\r\n&nbsp;', 'RED LINES & DEADLINES =  CAN KICKED DOWN THE ROAD', '', 'publish', 'open', 'closed', '', 'red-lines-deadlines-can-kicked-road', '', '', '2017-12-09 08:58:19', '2017-12-09 13:58:19', '', 0, 'https://weeklyfxdrivethru.com/?p=10535', 0, 'post', '', 0);
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(10536, 1, '2017-12-09 08:56:42', '2017-12-09 13:56:42', '<strong>\r\n</strong>\r\n<ol>\r\n 	<li><span style=\"font-size: 16pt;\"><strong>THE FIRST FEW SHOTS:</strong></span></li>\r\n</ol>\r\nI think that it’s fair to say that economic data has a back seat at the moment. It’s all about geopolitical news and the effect of these news items that are driving the markets at the moment. When I say driving, I really mean pushing one way then the other most times without reason.\r\n\r\nThe markets are not as liquid now as they were 12 months ago, and, this is evidenced as we enter periods like now, where it is largely historically recognized that many large institutions are preparing to run down their books into the year-end ready for the start of next year.\r\n\r\nTRUMP and BREXIT headlines have dominated all week. It seems really strange to write that when the past week included U.S. Non-Farm Payrolls.\r\n\r\nTRUMP goes from controversy to controversy, investigation to investigation and the great negotiator is still without a single campaign promise delivered. The latest from the great negotiator was that we had an 11th hour deal to fund the government for two weeks to prevent a shutdown, as once again the debt ceiling was reached. Not out of the woods yet, a permanent solution is required by December 22nd to enable the government to function moving forward.\r\n\r\nYou could not make this up. It is a reality TV program played out in front of the world with the oval office as the studio.\r\n\r\nWith regards to BREXIT, last Friday we had an agreement from Juncker and Barnier that enough progress had been made on phase one of the negotiations that the UK and the EU negotiators could now move to phase two.\r\n\r\nAt what cost?\r\n<p style=\"text-align: center;\"><strong>RED LINES &amp; DEADLINES = CAN KICKED DOWN THE ROAD</strong></p>\r\nThe ECB needs success as much as Theresa May with the RED LINES and DEADLINES set by both teams ahead of the EU 27 member states 2017 Christmas party aka December Council Meeting.\r\n\r\nThe ECB therefore did what they are master of… FUDGING, to you and me it’s also known as KICKIN’THE CAN DOWN THE ROAD.\r\n\r\nIt looks like the Irish border issue has been kicked down the road. We were provided with very little detail and this was the stumbling block. All parties, Theresa May (UK PM…by a thread), Michel Barnier (EU Chief Negotiator), Jean Claude Junker (President of the EU Commission), Leo Varadkar (IRISH PM) and Arlene Foster (DUP) placed a positive spin on the fact enough progress had been made but very light on specifics.\r\n\r\nThe fact that both Barnier and Juncker had broad smiles in the press conferences that followed the announcement, makes me think that the UK was screwed. This will no doubt roll on and there will be fallout, I think that’s a given.\r\n\r\nFrom an FX perspective, the trading around the BREXIT agreement was no more than a buy the rumour sell the news event. Cable basically nosedived. After all was said and done it moved over 140 pips lower from the highs at one point.\r\n\r\n<strong><u>NOTE:</u></strong>  With regards to cables move lower, this was more than severe profit taking in my opinion.\r\n\r\nFinally, …\r\n\r\nI picked this up out of my twitter feed last week…. made me giggle.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/TWITTER-NOTE-10122017.png\"><img class=\"aligncenter size-large wp-image-10507\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/TWITTER-NOTE-10122017-1024x929.png\" alt=\"\" width=\"1024\" height=\"929\" /></a>\r\n\r\n&nbsp;\r\n\r\n<strong> </strong>\r\n<ol start=\"2\">\r\n 	<li><span style=\"font-size: 16pt;\"><strong>MY (THE PREMIUM SERIVICE) TRADING LAST WEEK:</strong></span></li>\r\n</ol>\r\nI spent most of last week writing to PREMIUM SERVICE subscribers about how I wanted to reduce RISK ahead of NFP. I am pleased to say, I cut out lots of trades before the monthly lottery day aka NFP! I was very successful in reducing what I call circumstantial RISK prior to the NFP data release. I just had to manage my longer-term positions of AUD/NZD and USD/CAD.\r\n\r\nI did not as I indicated to PREMIUM SERVICE subscribers trade NFP. I find that I only get annoyed and frustrated with NFP moves which linger into and hover over the weekends. This may be more of thing of the past but I just hate the knee-jerk moves and then two/ three hours of a chop fest that follows. It just does not suit my style at all.\r\n\r\nTrading this month so far has been a little strange. I am conscious that I want to reduce RISK heading into the Christmas holidays. This coming week is, in my opinion, the last week of this year with decent liquidity and I do not want to be carrying multiple trades forward or having to manage a huge quantity over the Christmas holidays.\r\n\r\nEconomic and Central Bank data this week makes it a huge week of importance as well. At the same time, I realise that most of my core positions of the USD/CAD and AUD/NZD will be probably be carried forward into 2018. I have a few USD/CAD trades that I will unload next week. I expect my pip net profit for 2017 to lie a little lower than current levels once I cull!\r\n\r\n<u>PERFORMANCE 2017 TO DATE:</u>\r\n\r\nDecember 2017 net TOTAL:     +536 net pips\r\n2017 YEAR TO DATE:                +13,319 net pips\r\n\r\nIn sales mode; I am now planning for 2018. I will have live trades through the Christmas and New Year holidays so I will be on twitter and probably email.\r\n\r\nIn 2018, the PREMIUM SERVICE will return with a new TRADE STYLE option for subscribers to consider and the SUBSCRIBER SECTION of the “DRIVE THRU” will be larger with greater emphasis on sentiment and market direction. Therefore, now is a great time to join the PREMIUM SERVICE get familiar and ready to go with the 2018 launch!!\r\n\r\n<strong> </strong><strong> </strong>\r\n<ol start=\"3\">\r\n 	<li><span style=\"font-size: 16pt;\"><strong>THE FX MARKET PLACE THIS WEEK:</strong></span></li>\r\n</ol>\r\n<u>\r\n<span style=\"font-size: 14pt;\">3:1. THIS WEEK’S ECONOMIC DATA RELEASES:</span></u>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/ECON-DATA-10122017.png\"><img class=\"aligncenter size-large wp-image-10508\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/ECON-DATA-10122017-1024x985.png\" alt=\"\" width=\"1024\" height=\"985\" /></a>\r\n\r\n&nbsp;\r\n\r\n<u>3:2. MY THOUGHTS ON THIS WEEK’S ECONOMIC DATA:</u>\r\n\r\nThis week I would say is probably one of if not the most important weeks for trading FX in 2017. We should get more than a feeling for direction into early 2018 given the information that should be provided.\r\n\r\nWe have Central Bank interest rate decisions and market commentaries from the FED, ECB, BOE and SNB.\r\n\r\nWe also have, Consumer Prices from the U.S. and the UK, Jobs Data from Australia, Average Earnings Data in the UK plus Producer Prices and Retail Sales data from the U.S. It is without doubt a packed week.\r\n\r\nThe most important part from my perspective however is to hear about any changes in Central Bank monetary policies moving into 2018.\r\n\r\nIn no particular order: -\r\n\r\n&nbsp;\r\n\r\n<strong><u>GBP:</u></strong><u> CPi, AVERAGE EARNINGS, RETAIL SALES &amp; THE BOE</u>.\r\n\r\nI do not for a minute believe that Mark Carney or any members of the MPC will be looking to amend interest rates, however, when the BOE announces on Thursday, I do expect that by that time we should have a pretty good idea about the state of the UK economy.\r\n\r\nThere is still inflation in the UK and CPI on Tuesday will give us the nod on whether it has topped out or not. The last reading was 3.0%.\r\n\r\nAverage Earnings is one that will be watched very, very closely. With inflation at 3.0% last time around earnings were lagging at 2.2%. For it to be a HAPPY CHRISTMAS the BOE and the government will at least want the numbers to match or be very close.\r\n\r\nRetail Sales should be positive and a beat. If a country cannot have a good retail sales number leading up to Christmas, it never will.\r\n\r\nInterest rates should remain at 0.50% and the MPC vote at 7-2. Any deviations from these numbers and the cable will be off running around like a headless chicken.\r\n\r\nGiven the “low on details” BREXIT phase one deal completed last Friday, I am once again having mixed views on the GBP.\r\n\r\nThis week’s data is therefore crucial to me moving forward.\r\n\r\n<strong><u>\r\nUSD:</u></strong><u> CPi, PPi, RETAIL SALES and the FOMC.</u>\r\n\r\nI am just not sure what to make of the USD at the moment. My brain tells me one thing and my gut another. I have read a lot of analyst reports for 2018 and there are institutions expecting 3 possibly even 4 further interest rate increases on top of the one due this week, which would take the U.S. FED Funds Rate to 1.50%.\r\n\r\nThis time next year it could be ready to move to 2.50%.\r\n\r\nWhat is at the back of my mind is that there is NO INFLATION around. Last week’s Average Hourlies released at the same time as the NFP data was once again missing signs of inflation.\r\n\r\nThis week CPi needs to beat 0.1% to show that there is some life in the economy vis-à-vis inflation. Producer prices and Retail Sales need to show growth as well. This has been lacking more or less of late. With this as a backdrop I just cannot see multiple rate hikes on the horizon. This must be a fear for the FED moving forward. All this talk of transitory stands for nothing it would appear.\r\n\r\nSo, Janet Yellen has her final Press Conference this week and she will announce a 0.25% rate increase. If the FED does not raise there will be blood!\r\n\r\n&nbsp;\r\n\r\n<strong><u>EUR:</u></strong><u> INTEREST RATE ANNOUNCEMENT and PRESS CONFERENCE.</u>\r\n\r\nThe final Central Bank announcement of the week is Mario Draghi at the ECB. Fair play to Mario Draghi of late, at all speeches he has watched his “p’s and q’s” very closely.\r\n\r\nIt looks from a trading perceptive that to keep a lid on the single currencies strength below 1.2000 is key objective, both he and the ECB council members will be happy that recent policy initiatives have worked out very well putting a cap on EURO strength.\r\n\r\nI suspect that Draghi will be popping the Dom Perignon should the FED raise rates next Wednesday and the USD strengthen across the board, ahead of his press conference the following day.\r\n\r\nI am expecting a boring press conference and speech from Draghi. Happy Christmas, thanks for coming there are mince pies for everyone at the back of the room type of stuff. But… you just never know with the ECB. There is a history of council members breaking ranks and noting their dissent to undermine Mario Draghi. For this reason, this week, this event cannot be missed.\r\n\r\n&nbsp;\r\n\r\n<span style=\"font-size: 14pt;\"><u>3:3. USD MAJORS – SUPPORT &amp; RESISTANCE with BIAS:</u></span>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/TCHART-10122017.png\"><img class=\"aligncenter size-large wp-image-10509\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/TCHART-10122017-1024x889.png\" alt=\"\" width=\"1024\" height=\"889\" /></a>\r\n\r\n&nbsp;\r\n\r\n<span style=\"font-size: 14pt;\"><u>3:4. USD – TRADING CHARTS: </u></span>\r\n\r\nMore often than not I will use DAILY CHARTS for my analysis. My commentary and thoughts for each trading pair are above the charts.\r\n\r\nCANDLE ANALYSIS: I have now added my thoughts based on the closing daily candle to the weeks trading.\r\n\r\n<strong>\r\n<u>EUR/USD:</u>\r\n</strong>\r\nDAILY CLOSING CANDLE: BULLISH\r\n\r\nThe single currency has been in sell mode this past week, with USD strength returning to the markets ahead of the anticipated rate increase from the FOMC this coming Wednesday.\r\n\r\nSupport at 61.8% Fibonacci level of 1.1701 looks to be acting like a “Star Trek” tractor beam sucking the pair lower. I see no reason why this trend lower should stop in the run up to the FOMC. Below 1.1701, the horizontal support / resistance level around 1.1650-60 is next up. This could be a great level ahead from which a reversal could start.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/EURUSD-D-10122017.png\"><img class=\"aligncenter size-large wp-image-10519\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/EURUSD-D-10122017-1024x534.png\" alt=\"\" width=\"1024\" height=\"534\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n<strong><u>GBP/USD:</u></strong>\r\n\r\nDAILY CLOSING CANDLE: VERY BEARISH\r\n\r\nRight now… I am not sure that whatever pattern or measured move, pivot point, Fibonacci level etc. you think about or can see on a chart means too much for the next few days. This pair will be driven by political news rather than economic news or technical data.\r\n\r\nLooking at the chart below, 1.3340 looks to have been an area where buyers and sellers have come together in the past to compete over directional control.\r\n\r\nRecently, I had been long this pair and quite bullish looking forward. After the BREXIT phase one deal (of sorts) I think there are so many questions unanswered that it is hard to remain bullish. The uncertainties surrounding the BREXIT to a large extent still remain, and frankly when you consider arriving at stage one “the easy way” has been like drawing blood from a stone… The next phase includes trade agreements so it can only be harder in my opinion.\r\n\r\nWe have a bull flag on the chart but I just cannot take it seriously at the moment.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/GBPUSD-D-10122017.png\"><img class=\"aligncenter size-large wp-image-10520\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/GBPUSD-D-10122017-1024x534.png\" alt=\"\" width=\"1024\" height=\"534\" /></a>\r\n\r\n&nbsp;\r\n\r\n<strong><u>AUD/USD:</u></strong>\r\n\r\nDAILY CLOSING CANDLE: BEARISH\r\n\r\nWe have a double top pattern in play.\r\n\r\nFundamentally some comments from the RBA make me think that the bottom may have been in around the 0.7500 level. But last week on great data the AUD/USD was rejected at 0.7640 and now following USD strength we have slipped below the 0.7520 level, and broken back to re-test.\r\n\r\nThis means in usual trading conditions that the double top measured move should be in play down to 0.7420.\r\n\r\nPersonally, in my opinion the markets are twitchy at the moment, at times brutal and commodity currencies have been acting independently of the EUR/USD so I am not convinced that this move will happen.\r\n\r\nObviously, a break back above 0.7520-40 places the move in doubt.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/AUDUSD-D-10122017.png\"><img class=\"aligncenter size-large wp-image-10518\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/AUDUSD-D-10122017-1024x534.png\" alt=\"\" width=\"1024\" height=\"534\" /></a>\r\n\r\n&nbsp;\r\n\r\n<strong><u>NZD/USD:</u></strong>\r\n\r\nDAILY CLOSING CANDLE: BEARISH (INVERTED HAMMER)<strong><u>\r\n</u></strong>\r\nIf you like to play “ping pong” you must love this pair at the moment. My thoughts are that we are heading to the John Key low of 0.6600. It just seems to be taking an eternity.\r\n\r\nLast week some words from Grant aka “Frank (Some Central Banks do have them)” Spencer, stopped the Kiwi’s move lower.\r\n\r\nFor now we are range bound 0.6780 to 0.6960.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/NZDUSD-D-11122017.png\"><img class=\"aligncenter size-large wp-image-10521\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/NZDUSD-D-11122017-1024x534.png\" alt=\"\" width=\"1024\" height=\"534\" /></a>\r\n\r\n&nbsp;\r\n\r\n<strong><u>USD/CAD:</u></strong><strong>\r\n\r\n</strong>DAILY CLOSING CANDLE: INDECISION (SPINNING TOP)\r\n\r\nBugger…\r\n\r\nI am HEDGED this pair and short some more!!  Sooner rather than later I am going to have to make the TRADE DECISION. I still have capacity before I reach my RISK TOLERANCE limit so I will wait for now, but it annoys me every time I open up the broker account that trades are inside. Maybe its best not to open that broker account!!\r\n\r\nIt looked to me originally that a confluence of Fibonacci levels would have held this pair at 1.2800. Next was 1.2840 and now my thoughts are 1.12910 the recent highs although my fears are that 1.3000 looms overhead….\r\n\r\nBelow 1.2800 gives the bears some optimism moving forward, 1.2750 is definitely greater comfort but around 1.2850 I can only see higher…argh!!\r\n\r\nThe chart below shows the QUAD TOP measured move. That has not yet played out!!\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/USDCAD-D-10122017.png\"><img class=\"aligncenter size-large wp-image-10522\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/USDCAD-D-10122017-1024x534.png\" alt=\"\" width=\"1024\" height=\"534\" /></a>\r\n\r\n&nbsp;\r\n\r\n<strong><u>USD/CHF:</u></strong>\r\n\r\nDAILY CLOSING CANDLE: BEARISH (SHOOTING STAR)<strong>\r\n</strong>\r\nThe BULL FLAG from last week is still in play. However, it’s a nasty closing candle, which indicates a direction change.\r\n\r\nOne has to be cautious here, we are still inside the pennant but the candle indicates a bearish move.\r\n\r\nSUPPORT at 0.9740\r\n\r\nRESISTANCE at 1.0000\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/USDCHF-D-10122017.png\"><img class=\"aligncenter size-large wp-image-10523\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/USDCHF-D-10122017-1024x534.png\" alt=\"\" width=\"1024\" height=\"534\" /></a>\r\n\r\n&nbsp;\r\n\r\n<strong><u>USD/JPY:</u></strong>\r\n\r\nDAILY CLOSING CANDLE: BULLISH<u>\r\n</u>\r\nWith so many investigations surrounding TRUMP and the geopolitical tension with which he is associated, unless you are short this pair I do not think it would be prudent to trade it, no matter how bullish it looks to the long side.\r\n\r\nThe BEAR FLAG is probably too long vis-à-vis the flag pole length and should NOT be taken seriously. I put it there just to show how powerful upward moves can be at a time of so much confusion regarding the U.S. policies at home and internationally.\r\n\r\nBelow 110.80 obviously get bears well in control but that is a long way away now. We have retraced more than the 61.8% off the last high to low move.\r\n\r\nI would leave well alone but for the addicted top pickers the 76.4% Fibonacci at 113.80 may offer a try with an entry short with a tight stop.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/USDJPY-D-10122017.png\"><img class=\"aligncenter size-large wp-image-10524\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/USDJPY-D-10122017-1024x534.png\" alt=\"\" width=\"1024\" height=\"534\" /></a>\r\n\r\n&nbsp;\r\n\r\n<span style=\"font-size: 14pt;\"><u>3:5. MY THOUGHTS ON HOW TO PLAY FX THIS WEEK:</u></span>\r\n\r\nThis week is loaded.\r\n\r\nI am probably going to focus more on exiting existing trades than entering new ones. I am not saying that my work for 2017 is complete but with the FED, ECB, BOE and SNB all on the floor this week plus a plethora of inflation data from the UK and U.S. one has to be lighter than usual with trades.\r\n\r\nPLUS: - This week liquidity will be starting to dry up.\r\n\r\nIf I look at the USD, despite all my rumblings earlier in this blog we have the greatest trading directional sentiment alignment of the majors for a long, long time. That said, personally for the most part, I am going to stay away from USD related pairs.\r\n\r\nTrading cross rates with lower liquidity also brings with it greater RISK even if you still reduce your position sizes.\r\n\r\nI expect that there will be more fallout from BREXIT and TRUMPS antics will obviously continue, why would his character change?\r\n\r\nIt sounds like I am closing the doors on 2017. Monday after the first Asian and European sessions of the week, I will review charts but not until then.\r\n\r\nSunday evening when the trading week starts its bound to be BITCOIN this and BITCOIN that as the focus as the futures exchange in the crypto comes on line. I expect things to get very “crunchy” as shorting comes into play.\r\n\r\nPushed on pairs to look at, I would say EUR/JPY, EUR/GBP, EUR/CHF and maybe AUD related pairs.\r\n\r\nJust remember we are in December, you cannot expect as much as if you were trading in say April or May. Trading expectations need to be wound back.\r\n\r\nAs a junkie on BREXIT news I will probably find myself reading lots of Sunday / weekend reviews and reports on what’s next!\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n<ol start=\"4\">\r\n 	<li><span style=\"font-size: 16pt;\"><strong> PREMIUM SERVICE SUBSCRIBERS ONLY:</strong></span></li>\r\n</ol>\r\n(Only SUBSCRIBERS to the PREMIUM SERVICE can view this section of the BLOG)\r\n\r\n<span style=\"font-size: 14pt;\"><u>4:1. TRADING REVIEW:</u></span>\r\n<u>\r\n</u><span style=\"font-size: 14pt;\"><u>4:2. SENTIMENT CHART,</u><u> FUNDAMENTAL &amp; MACRO THOUGHTS</u><u>:\r\n</u></span>\r\n\r\n<span style=\"font-size: 14pt;\"><u>4:3. TRADING PLANS:</u></span>\r\n\r\n<span style=\"font-size: 14pt;\"><u>4:3.1. TRADING PLAN OVERVIEW THIS WEEK:</u></span><u> </u>\r\n\r\n<span style=\"font-size: 14pt;\"><u>4:3.2.  EXISTING CORE TRADES (PLANS &amp; STRATEGIES)</u></span>\r\n\r\n<span style=\"font-size: 14pt;\"><u>4:4. CURRENT LIVE TRADES &amp; LIMIT ORDERS:</u></span>\r\n\r\n<span style=\"font-size: 14pt;\"><u>4:5. FX BROKER NEWS with their MARKET FEEDBACK:</u></span>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n<ol start=\"5\">\r\n 	<li><span style=\"font-size: 16pt;\"><strong> THE PREMIUM SERVICE:</strong></span></li>\r\n</ol>\r\nThe PREMIUM SERVICE is my own subscriber based Forex support service that offers subscribers my suggested trade set-ups and market commentaries.\r\n\r\n<span style=\"font-size: 14pt;\"><u>5:1. CURRENT 2017 PREMIUM SERVICE PERFORMANCE:</u></span>\r\n\r\nPIPS TOTAL DECEMBER TO DATE  2017:       = +536 pips\r\nYEAR TO DATE:                                                      = +13,319 pips\r\n\r\nIn sales mode; I am now planning for 2018. I will have live trades through the Christmas and New Year holidays so I will be on twitter and probably email.\r\n\r\nIn 2018, the PREMIUM SERVICE will return with a new TRADE STYLE option for subscribers to consider and the SUBSCRIBER SECTION of the “DRIVE THRU” will be larger with greater emphasis on sentiment and market direction. Therefore, now is a great time to join the PREMIUM SERVICE get familiar and ready to go with the 2018 launch!!\r\n\r\n<strong> </strong>\r\n\r\n<span style=\"font-size: 14pt;\"><u>5:2. HOW TO SUBSCRIBE TO THE PREMIUM SERVICE:</u></span>\r\n\r\nIf you like what you’ve read in this blog and should you want to go a stage further and subscribe to the PREMIUM SERVICE, this can be done on my website <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a> under the Tab SUBSCRIBE HERE.\r\n\r\nSubscribing to the PREMIUM SERVICE is not just about receiving a larger “DRIVE THRU” blog packed with more trading supporting information, my thoughts and ideas. There is much more to a subscription than those things. Check it all out under the tab HISTORY &amp; PERFORMANCE on my website <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a>\r\n\r\nAlternatively, if you prefer to watch a video recording about the PREMIUM SERVICE, click the link below. You will be directed to a 40-minute webinar presentation entitled “AN INTRODUCTION TO THE PREMIUM SERVICE”.\r\n\r\n<a href=\"http://screencasts.weeklyfxdrivethru.com/watch/cb6fqiIAZX\">http://screencasts.weeklyfxdrivethru.com/watch/cb6fqiIAZX</a>\r\n\r\nTo subscribe to THE PREMIUM SERVICE, you will require a valid credit card.\r\n<strong> </strong>\r\n\r\n<strong> </strong>\r\n<ol start=\"6\">\r\n 	<li><span style=\"font-size: 14pt;\"><strong><span style=\"font-size: 16pt;\"> THE FINAL SHOTS</span>:</strong></span></li>\r\n</ol>\r\n<span style=\"font-size: 14pt;\"><u>6:1. WANT A FREE PREMIUM SERVICE SUBSCRIPTION:</u></span>\r\n\r\nIf you like what you have read in this blog and would like the chance to win a FREE SUBSCRIPTION valued at CAD$150.00, all you need to do is subscribe to my FREE NEWSLETTER (this blog), by adding your email address on my welcome page just below my cube logo at <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a>\r\n\r\n&nbsp;\r\n\r\n<span style=\"font-size: 14pt;\"><u>6:2. CLOSING THOUGHTS:</u></span>\r\n\r\nNothing more to add here, I have said enough except,\r\n\r\nAs usual…\r\n\r\nAlways remember longevity in Forex trading can only be achieved through trading with good RISK and MONEY MANAGEMENT, and above all set your position sizes in accordance with the size of your account and allow for some flexibility.\r\n\r\n&nbsp;\r\n\r\nScott Pickering\r\nThe Pip Accumulator\r\nTwitter: @pipaccumulator\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/disclaimer/\">http://weeklyfxdrivethru.com/disclaimer/</a>\r\n\r\nBLOG VERSION: #262 FREE NEWSLETTER\r\n10th December 2017\r\n\r\n&nbsp;', 'RED LINES & DEADLINES =  CAN KICKED DOWN THE ROAD', '', 'inherit', 'closed', 'closed', '', '10535-revision-v1', '', '', '2017-12-09 08:56:42', '2017-12-09 13:56:42', '', 10535, 'https://weeklyfxdrivethru.com/10535-revision-v1/', 0, 'revision', '', 0);
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(10537, 1, '2017-12-09 08:57:11', '2017-12-09 13:57:11', '<strong>\r\n</strong>\r\n<ol>\r\n 	<li><span style=\"font-size: 16pt;\"><strong>THE FIRST FEW SHOTS:</strong></span></li>\r\n</ol>\r\nI think that it’s fair to say that economic data has a back seat at the moment. It’s all about geopolitical news and the effect of these news items that are driving the markets at the moment. When I say driving, I really mean pushing one way then the other most times without reason.\r\n\r\nThe markets are not as liquid now as they were 12 months ago, and, this is evidenced as we enter periods like now, where it is largely historically recognized that many large institutions are preparing to run down their books into the year-end ready for the start of next year.\r\n\r\nTRUMP and BREXIT headlines have dominated all week. It seems really strange to write that when the past week included U.S. Non-Farm Payrolls.\r\n\r\nTRUMP goes from controversy to controversy, investigation to investigation and the great negotiator is still without a single campaign promise delivered. The latest from the great negotiator was that we had an 11th hour deal to fund the government for two weeks to prevent a shutdown, as once again the debt ceiling was reached. Not out of the woods yet, a permanent solution is required by December 22nd to enable the government to function moving forward.\r\n\r\nYou could not make this up. It is a reality TV program played out in front of the world with the oval office as the studio.\r\n\r\nWith regards to BREXIT, last Friday we had an agreement from Juncker and Barnier that enough progress had been made on phase one of the negotiations that the UK and the EU negotiators could now move to phase two.\r\n\r\nAt what cost?\r\n<p style=\"text-align: center;\"><strong>RED LINES &amp; DEADLINES = CAN KICKED DOWN THE ROAD</strong></p>\r\nThe ECB needs success as much as Theresa May with the RED LINES and DEADLINES set by both teams ahead of the EU 27 member states 2017 Christmas party aka December Council Meeting.\r\n\r\nThe ECB therefore did what they are master of… FUDGING, to you and me it’s also known as KICKIN’THE CAN DOWN THE ROAD.\r\n\r\nIt looks like the Irish border issue has been kicked down the road. We were provided with very little detail and this was the stumbling block. All parties, Theresa May (UK PM…by a thread), Michel Barnier (EU Chief Negotiator), Jean Claude Junker (President of the EU Commission), Leo Varadkar (IRISH PM) and Arlene Foster (DUP) placed a positive spin on the fact enough progress had been made but very light on specifics.\r\n\r\nThe fact that both Barnier and Juncker had broad smiles in the press conferences that followed the announcement, makes me think that the UK was screwed. This will no doubt roll on and there will be fallout, I think that’s a given.\r\n\r\nFrom an FX perspective, the trading around the BREXIT agreement was no more than a buy the rumour sell the news event. Cable basically nosedived. After all was said and done it moved over 140 pips lower from the highs at one point.\r\n\r\n<strong><u>NOTE:</u></strong>  With regards to cables move lower, this was more than severe profit taking in my opinion.\r\n\r\nFinally, …\r\n\r\nI picked this up out of my twitter feed last week…. made me giggle.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/TWITTER-NOTE-10122017.png\"><img class=\"aligncenter size-large wp-image-10507\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/TWITTER-NOTE-10122017-1024x929.png\" alt=\"\" width=\"1024\" height=\"929\" /></a>\r\n\r\n&nbsp;\r\n\r\n<strong> </strong>\r\n<ol start=\"2\">\r\n 	<li><span style=\"font-size: 16pt;\"><strong>MY (THE PREMIUM SERIVICE) TRADING LAST WEEK:</strong></span></li>\r\n</ol>\r\nI spent most of last week writing to PREMIUM SERVICE subscribers about how I wanted to reduce RISK ahead of NFP. I am pleased to say, I cut out lots of trades before the monthly lottery day aka NFP! I was very successful in reducing what I call circumstantial RISK prior to the NFP data release. I just had to manage my longer-term positions of AUD/NZD and USD/CAD.\r\n\r\nI did not as I indicated to PREMIUM SERVICE subscribers trade NFP. I find that I only get annoyed and frustrated with NFP moves which linger into and hover over the weekends. This may be more of thing of the past but I just hate the knee-jerk moves and then two/ three hours of a chop fest that follows. It just does not suit my style at all.\r\n\r\nTrading this month so far has been a little strange. I am conscious that I want to reduce RISK heading into the Christmas holidays. This coming week is, in my opinion, the last week of this year with decent liquidity and I do not want to be carrying multiple trades forward or having to manage a huge quantity over the Christmas holidays.\r\n\r\nEconomic and Central Bank data this week makes it a huge week of importance as well. At the same time, I realise that most of my core positions of the USD/CAD and AUD/NZD will be probably be carried forward into 2018. I have a few USD/CAD trades that I will unload next week. I expect my pip net profit for 2017 to lie a little lower than current levels once I cull!\r\n\r\n<u>PERFORMANCE 2017 TO DATE:</u>\r\n\r\nDecember 2017 net TOTAL:     +536 net pips\r\n2017 YEAR TO DATE:                +13,319 net pips\r\n\r\nIn sales mode; I am now planning for 2018. I will have live trades through the Christmas and New Year holidays so I will be on twitter and probably email.\r\n\r\nIn 2018, the PREMIUM SERVICE will return with a new TRADE STYLE option for subscribers to consider and the SUBSCRIBER SECTION of the “DRIVE THRU” will be larger with greater emphasis on sentiment and market direction. Therefore, now is a great time to join the PREMIUM SERVICE get familiar and ready to go with the 2018 launch!!\r\n\r\n<strong> </strong><strong> </strong>\r\n<ol start=\"3\">\r\n 	<li><span style=\"font-size: 16pt;\"><strong>THE FX MARKET PLACE THIS WEEK:</strong></span></li>\r\n</ol>\r\n<u>\r\n<span style=\"font-size: 14pt;\">3:1. THIS WEEK’S ECONOMIC DATA RELEASES:</span></u>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/ECON-DATA-10122017.png\"><img class=\"aligncenter size-large wp-image-10508\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/ECON-DATA-10122017-1024x985.png\" alt=\"\" width=\"1024\" height=\"985\" /></a>\r\n\r\n&nbsp;\r\n\r\n<span style=\"font-size: 14pt;\"><u>3:2. MY THOUGHTS ON THIS WEEK’S ECONOMIC DATA:</u></span>\r\n\r\nThis week I would say is probably one of if not the most important weeks for trading FX in 2017. We should get more than a feeling for direction into early 2018 given the information that should be provided.\r\n\r\nWe have Central Bank interest rate decisions and market commentaries from the FED, ECB, BOE and SNB.\r\n\r\nWe also have, Consumer Prices from the U.S. and the UK, Jobs Data from Australia, Average Earnings Data in the UK plus Producer Prices and Retail Sales data from the U.S. It is without doubt a packed week.\r\n\r\nThe most important part from my perspective however is to hear about any changes in Central Bank monetary policies moving into 2018.\r\n\r\nIn no particular order: -\r\n\r\n&nbsp;\r\n\r\n<strong><u>GBP:</u></strong><u> CPi, AVERAGE EARNINGS, RETAIL SALES &amp; THE BOE</u>.\r\n\r\nI do not for a minute believe that Mark Carney or any members of the MPC will be looking to amend interest rates, however, when the BOE announces on Thursday, I do expect that by that time we should have a pretty good idea about the state of the UK economy.\r\n\r\nThere is still inflation in the UK and CPI on Tuesday will give us the nod on whether it has topped out or not. The last reading was 3.0%.\r\n\r\nAverage Earnings is one that will be watched very, very closely. With inflation at 3.0% last time around earnings were lagging at 2.2%. For it to be a HAPPY CHRISTMAS the BOE and the government will at least want the numbers to match or be very close.\r\n\r\nRetail Sales should be positive and a beat. If a country cannot have a good retail sales number leading up to Christmas, it never will.\r\n\r\nInterest rates should remain at 0.50% and the MPC vote at 7-2. Any deviations from these numbers and the cable will be off running around like a headless chicken.\r\n\r\nGiven the “low on details” BREXIT phase one deal completed last Friday, I am once again having mixed views on the GBP.\r\n\r\nThis week’s data is therefore crucial to me moving forward.\r\n\r\n<strong><u>\r\nUSD:</u></strong><u> CPi, PPi, RETAIL SALES and the FOMC.</u>\r\n\r\nI am just not sure what to make of the USD at the moment. My brain tells me one thing and my gut another. I have read a lot of analyst reports for 2018 and there are institutions expecting 3 possibly even 4 further interest rate increases on top of the one due this week, which would take the U.S. FED Funds Rate to 1.50%.\r\n\r\nThis time next year it could be ready to move to 2.50%.\r\n\r\nWhat is at the back of my mind is that there is NO INFLATION around. Last week’s Average Hourlies released at the same time as the NFP data was once again missing signs of inflation.\r\n\r\nThis week CPi needs to beat 0.1% to show that there is some life in the economy vis-à-vis inflation. Producer prices and Retail Sales need to show growth as well. This has been lacking more or less of late. With this as a backdrop I just cannot see multiple rate hikes on the horizon. This must be a fear for the FED moving forward. All this talk of transitory stands for nothing it would appear.\r\n\r\nSo, Janet Yellen has her final Press Conference this week and she will announce a 0.25% rate increase. If the FED does not raise there will be blood!\r\n\r\n&nbsp;\r\n\r\n<strong><u>EUR:</u></strong><u> INTEREST RATE ANNOUNCEMENT and PRESS CONFERENCE.</u>\r\n\r\nThe final Central Bank announcement of the week is Mario Draghi at the ECB. Fair play to Mario Draghi of late, at all speeches he has watched his “p’s and q’s” very closely.\r\n\r\nIt looks from a trading perceptive that to keep a lid on the single currencies strength below 1.2000 is key objective, both he and the ECB council members will be happy that recent policy initiatives have worked out very well putting a cap on EURO strength.\r\n\r\nI suspect that Draghi will be popping the Dom Perignon should the FED raise rates next Wednesday and the USD strengthen across the board, ahead of his press conference the following day.\r\n\r\nI am expecting a boring press conference and speech from Draghi. Happy Christmas, thanks for coming there are mince pies for everyone at the back of the room type of stuff. But… you just never know with the ECB. There is a history of council members breaking ranks and noting their dissent to undermine Mario Draghi. For this reason, this week, this event cannot be missed.\r\n\r\n&nbsp;\r\n\r\n<span style=\"font-size: 14pt;\"><u>3:3. USD MAJORS – SUPPORT &amp; RESISTANCE with BIAS:</u></span>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/TCHART-10122017.png\"><img class=\"aligncenter size-large wp-image-10509\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/TCHART-10122017-1024x889.png\" alt=\"\" width=\"1024\" height=\"889\" /></a>\r\n\r\n&nbsp;\r\n\r\n<span style=\"font-size: 14pt;\"><u>3:4. USD – TRADING CHARTS: </u></span>\r\n\r\nMore often than not I will use DAILY CHARTS for my analysis. My commentary and thoughts for each trading pair are above the charts.\r\n\r\nCANDLE ANALYSIS: I have now added my thoughts based on the closing daily candle to the weeks trading.\r\n\r\n<strong>\r\n<u>EUR/USD:</u>\r\n</strong>\r\nDAILY CLOSING CANDLE: BULLISH\r\n\r\nThe single currency has been in sell mode this past week, with USD strength returning to the markets ahead of the anticipated rate increase from the FOMC this coming Wednesday.\r\n\r\nSupport at 61.8% Fibonacci level of 1.1701 looks to be acting like a “Star Trek” tractor beam sucking the pair lower. I see no reason why this trend lower should stop in the run up to the FOMC. Below 1.1701, the horizontal support / resistance level around 1.1650-60 is next up. This could be a great level ahead from which a reversal could start.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/EURUSD-D-10122017.png\"><img class=\"aligncenter size-large wp-image-10519\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/EURUSD-D-10122017-1024x534.png\" alt=\"\" width=\"1024\" height=\"534\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n<strong><u>GBP/USD:</u></strong>\r\n\r\nDAILY CLOSING CANDLE: VERY BEARISH\r\n\r\nRight now… I am not sure that whatever pattern or measured move, pivot point, Fibonacci level etc. you think about or can see on a chart means too much for the next few days. This pair will be driven by political news rather than economic news or technical data.\r\n\r\nLooking at the chart below, 1.3340 looks to have been an area where buyers and sellers have come together in the past to compete over directional control.\r\n\r\nRecently, I had been long this pair and quite bullish looking forward. After the BREXIT phase one deal (of sorts) I think there are so many questions unanswered that it is hard to remain bullish. The uncertainties surrounding the BREXIT to a large extent still remain, and frankly when you consider arriving at stage one “the easy way” has been like drawing blood from a stone… The next phase includes trade agreements so it can only be harder in my opinion.\r\n\r\nWe have a bull flag on the chart but I just cannot take it seriously at the moment.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/GBPUSD-D-10122017.png\"><img class=\"aligncenter size-large wp-image-10520\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/GBPUSD-D-10122017-1024x534.png\" alt=\"\" width=\"1024\" height=\"534\" /></a>\r\n\r\n&nbsp;\r\n\r\n<strong><u>AUD/USD:</u></strong>\r\n\r\nDAILY CLOSING CANDLE: BEARISH\r\n\r\nWe have a double top pattern in play.\r\n\r\nFundamentally some comments from the RBA make me think that the bottom may have been in around the 0.7500 level. But last week on great data the AUD/USD was rejected at 0.7640 and now following USD strength we have slipped below the 0.7520 level, and broken back to re-test.\r\n\r\nThis means in usual trading conditions that the double top measured move should be in play down to 0.7420.\r\n\r\nPersonally, in my opinion the markets are twitchy at the moment, at times brutal and commodity currencies have been acting independently of the EUR/USD so I am not convinced that this move will happen.\r\n\r\nObviously, a break back above 0.7520-40 places the move in doubt.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/AUDUSD-D-10122017.png\"><img class=\"aligncenter size-large wp-image-10518\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/AUDUSD-D-10122017-1024x534.png\" alt=\"\" width=\"1024\" height=\"534\" /></a>\r\n\r\n&nbsp;\r\n\r\n<strong><u>NZD/USD:</u></strong>\r\n\r\nDAILY CLOSING CANDLE: BEARISH (INVERTED HAMMER)<strong><u>\r\n</u></strong>\r\nIf you like to play “ping pong” you must love this pair at the moment. My thoughts are that we are heading to the John Key low of 0.6600. It just seems to be taking an eternity.\r\n\r\nLast week some words from Grant aka “Frank (Some Central Banks do have them)” Spencer, stopped the Kiwi’s move lower.\r\n\r\nFor now we are range bound 0.6780 to 0.6960.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/NZDUSD-D-11122017.png\"><img class=\"aligncenter size-large wp-image-10521\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/NZDUSD-D-11122017-1024x534.png\" alt=\"\" width=\"1024\" height=\"534\" /></a>\r\n\r\n&nbsp;\r\n\r\n<strong><u>USD/CAD:</u></strong>\r\n\r\nDAILY CLOSING CANDLE: INDECISION (SPINNING TOP)\r\n\r\nBugger…\r\n\r\nI am HEDGED this pair and short some more!!  Sooner rather than later I am going to have to make the TRADE DECISION. I still have capacity before I reach my RISK TOLERANCE limit so I will wait for now, but it annoys me every time I open up the broker account that trades are inside. Maybe its best not to open that broker account!!\r\n\r\nIt looked to me originally that a confluence of Fibonacci levels would have held this pair at 1.2800. Next was 1.2840 and now my thoughts are 1.12910 the recent highs although my fears are that 1.3000 looms overhead….\r\n\r\nBelow 1.2800 gives the bears some optimism moving forward, 1.2750 is definitely greater comfort but around 1.2850 I can only see higher…argh!!\r\n\r\nThe chart below shows the QUAD TOP measured move. That has not yet played out!!\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/USDCAD-D-10122017.png\"><img class=\"aligncenter size-large wp-image-10522\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/USDCAD-D-10122017-1024x534.png\" alt=\"\" width=\"1024\" height=\"534\" /></a>\r\n\r\n&nbsp;\r\n\r\n<strong><u>USD/CHF:</u></strong>\r\n\r\nDAILY CLOSING CANDLE: BEARISH (SHOOTING STAR)<strong>\r\n</strong>\r\nThe BULL FLAG from last week is still in play. However, it’s a nasty closing candle, which indicates a direction change.\r\n\r\nOne has to be cautious here, we are still inside the pennant but the candle indicates a bearish move.\r\n\r\nSUPPORT at 0.9740\r\n\r\nRESISTANCE at 1.0000\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/USDCHF-D-10122017.png\"><img class=\"aligncenter size-large wp-image-10523\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/USDCHF-D-10122017-1024x534.png\" alt=\"\" width=\"1024\" height=\"534\" /></a>\r\n\r\n&nbsp;\r\n\r\n<strong><u>USD/JPY:</u></strong>\r\n\r\nDAILY CLOSING CANDLE: BULLISH<u>\r\n</u>\r\nWith so many investigations surrounding TRUMP and the geopolitical tension with which he is associated, unless you are short this pair I do not think it would be prudent to trade it, no matter how bullish it looks to the long side.\r\n\r\nThe BEAR FLAG is probably too long vis-à-vis the flag pole length and should NOT be taken seriously. I put it there just to show how powerful upward moves can be at a time of so much confusion regarding the U.S. policies at home and internationally.\r\n\r\nBelow 110.80 obviously get bears well in control but that is a long way away now. We have retraced more than the 61.8% off the last high to low move.\r\n\r\nI would leave well alone but for the addicted top pickers the 76.4% Fibonacci at 113.80 may offer a try with an entry short with a tight stop.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/USDJPY-D-10122017.png\"><img class=\"aligncenter size-large wp-image-10524\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/USDJPY-D-10122017-1024x534.png\" alt=\"\" width=\"1024\" height=\"534\" /></a>\r\n\r\n&nbsp;\r\n\r\n<span style=\"font-size: 14pt;\"><u>3:5. MY THOUGHTS ON HOW TO PLAY FX THIS WEEK:</u></span>\r\n\r\nThis week is loaded.\r\n\r\nI am probably going to focus more on exiting existing trades than entering new ones. I am not saying that my work for 2017 is complete but with the FED, ECB, BOE and SNB all on the floor this week plus a plethora of inflation data from the UK and U.S. one has to be lighter than usual with trades.\r\n\r\nPLUS: - This week liquidity will be starting to dry up.\r\n\r\nIf I look at the USD, despite all my rumblings earlier in this blog we have the greatest trading directional sentiment alignment of the majors for a long, long time. That said, personally for the most part, I am going to stay away from USD related pairs.\r\n\r\nTrading cross rates with lower liquidity also brings with it greater RISK even if you still reduce your position sizes.\r\n\r\nI expect that there will be more fallout from BREXIT and TRUMPS antics will obviously continue, why would his character change?\r\n\r\nIt sounds like I am closing the doors on 2017. Monday after the first Asian and European sessions of the week, I will review charts but not until then.\r\n\r\nSunday evening when the trading week starts its bound to be BITCOIN this and BITCOIN that as the focus as the futures exchange in the crypto comes on line. I expect things to get very “crunchy” as shorting comes into play.\r\n\r\nPushed on pairs to look at, I would say EUR/JPY, EUR/GBP, EUR/CHF and maybe AUD related pairs.\r\n\r\nJust remember we are in December, you cannot expect as much as if you were trading in say April or May. Trading expectations need to be wound back.\r\n\r\nAs a junkie on BREXIT news I will probably find myself reading lots of Sunday / weekend reviews and reports on what’s next!\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n<ol start=\"4\">\r\n 	<li><span style=\"font-size: 16pt;\"><strong> PREMIUM SERVICE SUBSCRIBERS ONLY:</strong></span></li>\r\n</ol>\r\n(Only SUBSCRIBERS to the PREMIUM SERVICE can view this section of the BLOG)\r\n\r\n<span style=\"font-size: 14pt;\"><u>4:1. TRADING REVIEW:</u></span>\r\n<u>\r\n</u><span style=\"font-size: 14pt;\"><u>4:2. SENTIMENT CHART,</u><u> FUNDAMENTAL &amp; MACRO THOUGHTS</u><u>:\r\n</u></span>\r\n\r\n<span style=\"font-size: 14pt;\"><u>4:3. TRADING PLANS:</u></span>\r\n\r\n<span style=\"font-size: 14pt;\"><u>4:3.1. TRADING PLAN OVERVIEW THIS WEEK:</u></span><u> </u>\r\n\r\n<span style=\"font-size: 14pt;\"><u>4:3.2.  EXISTING CORE TRADES (PLANS &amp; STRATEGIES)</u></span>\r\n\r\n<span style=\"font-size: 14pt;\"><u>4:4. CURRENT LIVE TRADES &amp; LIMIT ORDERS:</u></span>\r\n\r\n<span style=\"font-size: 14pt;\"><u>4:5. FX BROKER NEWS with their MARKET FEEDBACK:</u></span>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n<ol start=\"5\">\r\n 	<li><span style=\"font-size: 16pt;\"><strong> THE PREMIUM SERVICE:</strong></span></li>\r\n</ol>\r\nThe PREMIUM SERVICE is my own subscriber based Forex support service that offers subscribers my suggested trade set-ups and market commentaries.\r\n\r\n<span style=\"font-size: 14pt;\"><u>5:1. CURRENT 2017 PREMIUM SERVICE PERFORMANCE:</u></span>\r\n\r\nPIPS TOTAL DECEMBER TO DATE  2017:       = +536 pips\r\nYEAR TO DATE:                                                      = +13,319 pips\r\n\r\nIn sales mode; I am now planning for 2018. I will have live trades through the Christmas and New Year holidays so I will be on twitter and probably email.\r\n\r\nIn 2018, the PREMIUM SERVICE will return with a new TRADE STYLE option for subscribers to consider and the SUBSCRIBER SECTION of the “DRIVE THRU” will be larger with greater emphasis on sentiment and market direction. Therefore, now is a great time to join the PREMIUM SERVICE get familiar and ready to go with the 2018 launch!!\r\n\r\n<strong> </strong>\r\n\r\n<span style=\"font-size: 14pt;\"><u>5:2. HOW TO SUBSCRIBE TO THE PREMIUM SERVICE:</u></span>\r\n\r\nIf you like what you’ve read in this blog and should you want to go a stage further and subscribe to the PREMIUM SERVICE, this can be done on my website <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a> under the Tab SUBSCRIBE HERE.\r\n\r\nSubscribing to the PREMIUM SERVICE is not just about receiving a larger “DRIVE THRU” blog packed with more trading supporting information, my thoughts and ideas. There is much more to a subscription than those things. Check it all out under the tab HISTORY &amp; PERFORMANCE on my website <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a>\r\n\r\nAlternatively, if you prefer to watch a video recording about the PREMIUM SERVICE, click the link below. You will be directed to a 40-minute webinar presentation entitled “AN INTRODUCTION TO THE PREMIUM SERVICE”.\r\n\r\n<a href=\"http://screencasts.weeklyfxdrivethru.com/watch/cb6fqiIAZX\">http://screencasts.weeklyfxdrivethru.com/watch/cb6fqiIAZX</a>\r\n\r\nTo subscribe to THE PREMIUM SERVICE, you will require a valid credit card.\r\n<strong> </strong>\r\n\r\n<strong> </strong>\r\n<ol start=\"6\">\r\n 	<li><span style=\"font-size: 14pt;\"><strong><span style=\"font-size: 16pt;\"> THE FINAL SHOTS</span>:</strong></span></li>\r\n</ol>\r\n<span style=\"font-size: 14pt;\"><u>6:1. WANT A FREE PREMIUM SERVICE SUBSCRIPTION:</u></span>\r\n\r\nIf you like what you have read in this blog and would like the chance to win a FREE SUBSCRIPTION valued at CAD$150.00, all you need to do is subscribe to my FREE NEWSLETTER (this blog), by adding your email address on my welcome page just below my cube logo at <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a>\r\n\r\n&nbsp;\r\n\r\n<span style=\"font-size: 14pt;\"><u>6:2. CLOSING THOUGHTS:</u></span>\r\n\r\nNothing more to add here, I have said enough except,\r\n\r\nAs usual…\r\n\r\nAlways remember longevity in Forex trading can only be achieved through trading with good RISK and MONEY MANAGEMENT, and above all set your position sizes in accordance with the size of your account and allow for some flexibility.\r\n\r\n&nbsp;\r\n\r\nScott Pickering\r\nThe Pip Accumulator\r\nTwitter: @pipaccumulator\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/disclaimer/\">http://weeklyfxdrivethru.com/disclaimer/</a>\r\n\r\nBLOG VERSION: #262 FREE NEWSLETTER\r\n10th December 2017\r\n\r\n&nbsp;', 'RED LINES & DEADLINES =  CAN KICKED DOWN THE ROAD', '', 'inherit', 'closed', 'closed', '', '10535-revision-v1', '', '', '2017-12-09 08:57:11', '2017-12-09 13:57:11', '', 10535, 'https://weeklyfxdrivethru.com/10535-revision-v1/', 0, 'revision', '', 0),
(10540, 1045, '2017-12-12 10:04:54', '2017-12-12 15:04:54', '<div class=\"one-half first\">\r\n<h2><span style=\"font-size: 18pt;\">This Month</span><a href=\"https://staging1.weeklyfxdrivethru.com/wp-content/uploads/2018/05/MOMENTUM-TRADES-05052018.png\"><img class=\"aligncenter size-full wp-image-11633\" src=\"https://staging1.weeklyfxdrivethru.com/wp-content/uploads/2018/05/MOMENTUM-TRADES-05052018.png\" alt=\"\" width=\"816\" height=\"1024\" /></a></h2>\r\n&nbsp;\r\n<h2></h2>\r\n</div>\r\n<div class=\"one-half\">\r\n<h2>Year to date<a href=\"https://staging1.weeklyfxdrivethru.com/wp-content/uploads/2018/04/MOMENTUM-YTD-APRIL-2018.png\"><img class=\"aligncenter size-full wp-image-11588\" src=\"https://staging1.weeklyfxdrivethru.com/wp-content/uploads/2018/04/MOMENTUM-YTD-APRIL-2018.png\" alt=\"\" width=\"984\" height=\"960\" /></a></h2>\r\n<h2>PREVIOUS YEARS</h2>\r\n</div>', 'Momentum Trades', '', 'publish', 'closed', 'closed', '', 'momentum-trades', '', '', '2018-05-16 20:52:06', '2018-05-17 01:52:06', '', 0, 'https://weeklyfxdrivethru.com/?page_id=10540', 0, 'page', '', 0),
(10543, 1045, '2017-12-12 10:11:58', '2017-12-12 15:11:58', '', 'Momentum Trades (MOM)', '', 'publish', 'closed', 'closed', '', 'momentum-trades-mom', '', '', '2018-05-31 12:25:44', '2018-05-31 17:25:44', '', 0, 'https://weeklyfxdrivethru.com/?p=10543', 10, 'nav_menu_item', '', 0),
(10544, 1045, '2017-12-12 10:20:38', '2017-12-12 15:20:38', '<p style=\"text-align: center;\"><strong><span style=\"font-size: 14pt;\">\r\nPLATINUM SUBSCRIBER</span></strong>\r\n<strong><span style=\"font-size: 14pt;\">\r\n</span></strong><span style=\"font-size: 14pt;\">OPTIONAL </span>\r\n<span style=\"font-size: 14pt;\"> WEEKLY FX PREMIUM BENEFITS</span></p>\r\n<span style=\"font-size: 12pt;\">The PLATINUM subscription level is the level that annual subscribers are immediately entered at within THE WEEKLY FX PREMIUM.</span>\r\n\r\n<span style=\"font-size: 12pt;\">There are two main features and benefits of the PLATINUM subscription level.</span>\r\n<ol>\r\n 	<li><span style=\"font-size: 12pt;\">ALL PLATINUM subscribers are eligible for either Monthly or Quarterly review meetings. These take place by either SKYPE or FaceTime.</span>\r\n<span style=\"font-size: 12pt;\"> Over time as the feature has evolved current reviews include: - Thoughts on specific trading pairs, Fundamental market overview and Macro discussion and general chats about the current market and trading conditions. Trading is a lonely business and just to talk and bounce ideas benefits all concerned.</span>\r\n<span style=\"font-size: 12pt;\"> This feature however is optional, as a PLATINUM subscriber you do NOT have to partake.</span></li>\r\n 	<li><span style=\"font-size: 12pt;\">ALL PLATINUM subscribers who renew at the annual level (40 weeks) receive a 20% reduction on the Annual subscription fee at the time of their renewal.</span></li>\r\n</ol>\r\n<span style=\"font-size: 12pt;\">If you would like to register for “REVIEW MEETINGS” please email me at <a href=\"mailto:scott@thepremiumservice.com\">subscribers@weeklyfxpremium.com</a> and we can set them up.</span>\r\n\r\n&nbsp;\r\n\r\n<span style=\"font-size: 12pt;\">Scott Pickering</span>\r\n<span style=\"font-size: 12pt;\"> The Pip Accumulator</span>\r\n<span style=\"font-size: 12pt;\"> Ist January 2018</span>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n&nbsp;', 'Platinum Benefits', '', 'publish', 'closed', 'closed', '', 'platinum-benefits', '', '', '2018-06-01 07:59:03', '2018-06-01 12:59:03', '', 0, 'https://weeklyfxdrivethru.com/?page_id=10544', 0, 'page', '', 0),
(10548, 1045, '2017-12-13 10:10:41', '2017-12-13 15:10:41', '<a href=\"https://staging1.weeklyfxdrivethru.com/wp-content/uploads/2018/05/RISK-MANAGEMENT-POSITION-SIZING-01012018.png\"><img class=\"aligncenter size-full wp-image-11658\" src=\"https://staging1.weeklyfxdrivethru.com/wp-content/uploads/2018/05/RISK-MANAGEMENT-POSITION-SIZING-01012018.png\" alt=\"\" width=\"1326\" height=\"1242\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://staging1.weeklyfxdrivethru.com/wp-content/uploads/2018/04/FX_Weekly_Excel_Premium.png\"><img class=\"aligncenter size-full wp-image-11538\" src=\"https://staging1.weeklyfxdrivethru.com/wp-content/uploads/2018/04/FX_Weekly_Excel_Premium.png\" alt=\"\" width=\"310\" height=\"115\" /></a>\r\n\r\n&nbsp;\r\n<p style=\"text-align: center;\"><span style=\"font-size: 18pt;\"><strong>RISK MANAGEMENT:</strong></span>\r\n<span style=\"font-size: 14pt;\">MY POSITION SIZING from TRADE SET UPS</span>\r\n(This document refers to the excel spreadsheet titled RISK MANAGEMENT)</p>\r\n&nbsp;\r\n\r\n<span style=\"font-size: 12pt;\">An explanation….</span>\r\n\r\n<span style=\"font-size: 12pt;\">Firstly, this is NOT an instruction.</span>\r\n\r\n<span style=\"font-size: 12pt;\">RISK TOLERANCE is a very personal thing when it comes to trading. My RISK TOLERANCE could be larger or smaller than yours.</span>\r\n\r\n<span style=\"font-size: 12pt;\">We all have different Financial situations and our Broker Accounts are all different vis-à-vis our trading balances.</span>\r\n\r\n<span style=\"font-size: 12pt;\">Therefore, please DO NOT treat this as something in tablets of stone. You MUST adapt this to your trading style and most importantly your RISK.</span>\r\n\r\n<span style=\"font-size: 12pt;\">This year (2018), I have introduced another trading style (MOMENTUM TRADES) to try to keep my trading adaptive and fresh to the marketplace and also meet the needs of my subscribers.</span>\r\n\r\n<span style=\"font-size: 12pt;\">The POSITION SIZING TABLE (excel spreadsheet) emanated from the fact that some subscribers wanting to know roughly what RISK I was applying to trades back in 2016.</span>\r\n\r\n<span style=\"font-size: 12pt;\">It is simply my RISK per trade taken based upon which one of my trading accounts the trade emanates from and related to the TRADE STYLE taken.</span>\r\n\r\n<span style=\"font-size: 12pt;\">It is broken down by trading pairs; it shows you what I would usually trade in position size (LOTS) for a 100% trade; and then breaks it down by the percentages that I quote on twitter via @ThePremService and through the email excel trade sheets that follow the tweet.</span>\r\n\r\n<span style=\"font-size: 12pt;\">It is based only on LOT SIZING per trade.</span>\r\n\r\n<span style=\"font-size: 12pt;\">When I post say 25% this is my entry size.</span>\r\n\r\n<span style=\"font-size: 12pt;\">If I add to that trade with a second trade again at 25% and have two trades running I will be at 50%. i.e. EUR/USD two at 25% trades = 5 x MINI + 5 x MINI = 10 x MINI LOTS = 1 STANDARD lot.</span>\r\n\r\n<span style=\"font-size: 12pt;\">The percentage RISK per trade is something else and is taken into considering by the position of the STOP LOSS. i.e. 3% risk per trade on a $100,000 account = $3,000 maximum RISK.</span>\r\n\r\n<span style=\"font-size: 12pt;\">REMEMBER &amp; NOTE: As everyone trades with different sizes of accounts you need to, if you were matching my trades, trade with the amount of lots you can afford to meet my STOP LOSS and be inside your own RISK TOLERANCE levels. As stated mine is 3%.</span>\r\n\r\n<span style=\"font-size: 12pt;\">I have subscribers that trade with bigger accounts that I do and many trade micro lots and mini lots only.</span>\r\n\r\n<span style=\"font-size: 12pt;\">I can only indicate what RISK that I am applying based upon my account sizes. You must relate this to your own personal circumstances.</span>\r\n\r\n<span style=\"font-size: 12pt;\">Scott Pickering</span>\r\n<span style=\"font-size: 12pt;\"> The Pip Accumulator</span>\r\n<span style=\"font-size: 12pt;\"> January 1st 2018</span>\r\n\r\n&nbsp;\r\n\r\n&nbsp;', 'Risk Management', '', 'publish', 'closed', 'closed', '', 'risk-management', '', '', '2018-05-16 20:54:25', '2018-05-17 01:54:25', '', 0, 'https://weeklyfxdrivethru.com/?page_id=10548', 0, 'page', '', 0),
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(11693, 1049, '2018-05-16 13:02:41', '2018-05-16 18:02:41', '<a href=\"https://staging1.weeklyfxdrivethru.com/wp-content/uploads/2018/05/Scott-33-2.jpg\"><img class=\"alignleft wp-image-11680 size-medium\" src=\"https://staging1.weeklyfxdrivethru.com/wp-content/uploads/2018/05/Scott-33-2-192x300.jpg\" alt=\"\" width=\"192\" height=\"300\" /></a><span style=\"font-size: 12pt;\">I have over 20 years experience in the Banking and Finance industry, employed by major Banks based in the UK and Ireland.</span>\r\n\r\n<span style=\"font-size: 12pt;\">I started trading Forex In 2008. I would consider myself to be a fundamental trader first, then a technical trader as my macro views line up technically. Trading is basically continual repetition of finding chart patterns and confluences of buyers and sellers. I try my best to keep Forex Trading simple.</span>\r\n\r\n<span style=\"font-size: 12pt;\">To have longevity in trading one must apply very strong RISK MANAGEMENT principles and trade with a TRADING PLAN. I am a patient trader with strong disciplines I do not chase trades, I wait for them to come to me.</span>\r\n\r\n<span style=\"font-size: 12pt;\">I am an independent full-time Forex Trader. Trading Forex involves risk and may not be suitable to all investors.</span>\r\n\r\n<span style=\"font-size: 12pt;\">My trade set-ups (FLASH, RADAR, MOMENTUM, FUNDAMENTAL and POSITION) are suggested trades that interest me. If you follow my suggested trades you trade at your own risk.</span>\r\n\r\n<span style=\"font-size: 12pt;\">My tweets and blogs are my views only and should be considered as commentaries.</span>', 'About Me', '', 'inherit', 'closed', 'closed', '', '11679-revision-v1', '', '', '2018-05-16 13:02:41', '2018-05-16 18:02:41', '', 11679, 'https://weeklyfxdrivethru.com/2018/05/11679-revision-v1/', 0, 'revision', '', 0),
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(10612, 1045, '2017-12-13 13:23:45', '2017-12-13 18:23:45', '', 'EDUCATION', '', 'publish', 'closed', 'closed', '', 'education', '', '', '2018-05-31 12:25:44', '2018-05-31 17:25:44', '', 0, 'https://weeklyfxdrivethru.com/?p=10612', 22, 'nav_menu_item', '', 0),
(10613, 1, '2017-12-13 13:25:32', '2017-12-13 18:25:32', '<a class=\"twitter-timeline\" data-width=\"500\" data-height=\"750\" data-dnt=\"true\" href=\"https://twitter.com/ThePremService?ref_src=twsrc%5Etfw\">Tweets by ThePremService</a><script async src=\"https://platform.twitter.com/widgets.js\" charset=\"utf-8\"></script>', '', '', 'publish', 'closed', 'closed', '', '47ba0f656e54a851faf4fd63d9d79277', '', '', '2017-12-13 13:25:32', '2017-12-13 18:25:32', '', 0, 'https://weeklyfxdrivethru.com/47ba0f656e54a851faf4fd63d9d79277/', 0, 'oembed_cache', '', 0),
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(10617, 1045, '2017-12-13 13:38:49', '2017-12-13 18:38:49', '', 'Mentoring / Coaching', '', 'publish', 'closed', 'closed', '', 'mentoring-coaching', '', '', '2018-05-31 12:25:44', '2018-05-31 17:25:44', '', 0, 'https://weeklyfxdrivethru.com/?p=10617', 27, 'nav_menu_item', '', 0),
(12141, 1, '2018-06-01 07:55:53', '2018-06-01 12:55:53', '<section class=\"members\"><span style=\"font-size: 12pt;\">Since starting with the PREMIUM SERVICE, I have been asked about providing specific training and a longer term mentoring program.I decided at the time that I wanted to leave this area to one side and place on hold until I had a full year of the PREMIUM SERVICE behind me.There will always be timing issues surrounding this subject matter and the fact that PREMIUM SERVICE subscribers are located all over the world there is an added complication. At the moment, I am based just outside of Halifax, Nova Scotia, Canada (ADT Atlantic time). We all trade Forex the time differences are a challenge but not insurmountable.If you want a little more: -</span>\r\n<ul>\r\n 	<li><span style=\"font-size: 12pt;\">Background to the working of the Forex Market.</span></li>\r\n 	<li><span style=\"font-size: 12pt;\">Specific coaching on an area of Forex.</span></li>\r\n 	<li><span style=\"font-size: 12pt;\">A longer-term support program on all aspects of the Forex Market with a weekly review.</span></li>\r\n</ul>\r\n<span style=\"font-size: 12pt;\">Basically, whatever you want just ask me. If I can accommodate your request from both my ability to deliver the content and the timing I will give you a YES or NO response.</span>\r\n\r\n<span style=\"font-size: 12pt;\">The cost of this depends upon exactly what you want initially and longer-term. I am in the Forex Market for the long haul.</span>\r\n\r\n<span style=\"font-size: 12pt;\">This is not a “smash and grab” business. Longevity, is the key to all aspects of Forex, training included. It is a step-by-step methodical approach; you test it, and then move on.</span>\r\n\r\n<span style=\"font-size: 12pt;\">For any questions in connection with this area please in the first instance email with as much detail as possible to: - scott@weeklyfxpremium.com</span>\r\n\r\n</section>&nbsp;\r\n\r\n<span style=\"font-size: 12pt;\">Scott Pickering</span>\r\n<span style=\"font-size: 12pt;\"> The Pip Accumulator</span>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n&nbsp;', 'MENTORING and ONE-ON-ONE COACHING:', '', 'inherit', 'closed', 'closed', '', '5553-revision-v1', '', '', '2018-06-01 07:55:53', '2018-06-01 12:55:53', '', 5553, 'https://weeklyfxdrivethru.com/2018/06/5553-revision-v1/', 0, 'revision', '', 0),
(12142, 1, '2018-06-01 07:59:03', '2018-06-01 12:59:03', '<p style=\"text-align: center;\"><strong><span style=\"font-size: 14pt;\">\r\nPLATINUM SUBSCRIBER</span></strong>\r\n<strong><span style=\"font-size: 14pt;\">\r\n</span></strong><span style=\"font-size: 14pt;\">OPTIONAL </span>\r\n<span style=\"font-size: 14pt;\"> WEEKLY FX PREMIUM BENEFITS</span></p>\r\n<span style=\"font-size: 12pt;\">The PLATINUM subscription level is the level that annual subscribers are immediately entered at within THE WEEKLY FX PREMIUM.</span>\r\n\r\n<span style=\"font-size: 12pt;\">There are two main features and benefits of the PLATINUM subscription level.</span>\r\n<ol>\r\n 	<li><span style=\"font-size: 12pt;\">ALL PLATINUM subscribers are eligible for either Monthly or Quarterly review meetings. These take place by either SKYPE or FaceTime.</span>\r\n<span style=\"font-size: 12pt;\"> Over time as the feature has evolved current reviews include: - Thoughts on specific trading pairs, Fundamental market overview and Macro discussion and general chats about the current market and trading conditions. Trading is a lonely business and just to talk and bounce ideas benefits all concerned.</span>\r\n<span style=\"font-size: 12pt;\"> This feature however is optional, as a PLATINUM subscriber you do NOT have to partake.</span></li>\r\n 	<li><span style=\"font-size: 12pt;\">ALL PLATINUM subscribers who renew at the annual level (40 weeks) receive a 20% reduction on the Annual subscription fee at the time of their renewal.</span></li>\r\n</ol>\r\n<span style=\"font-size: 12pt;\">If you would like to register for “REVIEW MEETINGS” please email me at <a href=\"mailto:scott@thepremiumservice.com\">subscribers@weeklyfxpremium.com</a> and we can set them up.</span>\r\n\r\n&nbsp;\r\n\r\n<span style=\"font-size: 12pt;\">Scott Pickering</span>\r\n<span style=\"font-size: 12pt;\"> The Pip Accumulator</span>\r\n<span style=\"font-size: 12pt;\"> Ist January 2018</span>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n&nbsp;', 'Platinum Benefits', '', 'inherit', 'closed', 'closed', '', '10544-revision-v1', '', '', '2018-06-01 07:59:03', '2018-06-01 12:59:03', '', 10544, 'https://weeklyfxdrivethru.com/2018/06/10544-revision-v1/', 0, 'revision', '', 0),
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(11850, 1049, '2018-05-16 20:55:22', '2018-05-17 01:55:22', '<section class=\"pdf-links\">\r\n<div class=\"one-third first\"><a href=\"https://staging1.weeklyfxdrivethru.com/wp-content/uploads/2014/01/Introduction-to-Chart-Patterns.pdf\">Introduction to Chart Patterns</a>\r\n<a href=\"https://staging1.weeklyfxdrivethru.com/wp-content/uploads/2014/01/What-Are-Charts-.pdf\">What Are Charts</a></div>\r\n<div class=\"one-third\"><a href=\"https://staging1.weeklyfxdrivethru.com/wp-content/uploads/2014/01/Gaps-and-Gap-Analysis.pdf\">Gaps and Gap Analysis</a>\r\n<a href=\"https://staging1.weeklyfxdrivethru.com/wp-content/uploads/2014/01/Trend-Lines.pdf\">Trend Lines</a></div>\r\n<div class=\"one-third\"><a href=\"https://staging1.weeklyfxdrivethru.com/wp-content/uploads/2014/01/Support-and-Resistance.pdf\">Support and Resistance</a></div>\r\n</section>\r\n<div class=\"one-half first\">\r\n\r\n&nbsp;\r\n\r\n<span style=\"font-size: 12pt;\">These resources are in PDF format that will allow for easy printing</span>\r\n\r\n</div>', 'Trading Basics', '', 'inherit', 'closed', 'closed', '', '2535-revision-v1', '', '', '2018-05-16 20:55:22', '2018-05-17 01:55:22', '', 2535, 'https://weeklyfxdrivethru.com/2018/05/2535-revision-v1/', 0, 'revision', '', 0),
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(10641, 1, '2017-12-15 12:02:14', '2017-12-15 17:02:14', '&nbsp;\r\n\r\n<span style=\"font-size: 16pt;\"><strong>AN INTRODUCTION TO THE PREMIUM SERVICE - WEBINAR:</strong></span>\r\n<p style=\"text-align: left;\">Clicking the link below will take you to my webinar presentation, which tells you all about how the PREMIUM SERVICE evolved and what it can do for you as a subscriber.</p>\r\n<a href=\"http://screencasts.weeklyfxdrivethru.com/watch/cb6fqiIAZX\">http://screencasts.weeklyfxdrivethru.com/watch/cb6fqiIAZX</a>\r\n\r\n<strong>\r\n<span style=\"font-size: 16pt;\">PRESENTATIONS and SEMINARS:</span></strong>\r\n\r\nNothing scheduled. When plans are being formulated details will appear here.\r\n\r\n<strong>\r\n<span style=\"font-size: 16pt;\">LIVE WEBINARS:</span></strong>\r\n\r\nIt was my plan to re-launch these in the autumn / fall of 2017. I have decided to leave this to one side for now as I am planning a re-vamp for 2018 of my website, the PREMIUM SERVICE  and my format of the WEEKLY FX DRIVE THRU blog.\r\n\r\nMy thoughts are to bring all four revised items (WEBINAR, THE PREMIUM SERVICE, the DRIVE THRU BLOG and WEBSITE) to the market at the same time early 2018.\r\n\r\nScott Pickering\r\nThe Pip Accumulator\r\n1st October 2017', 'UPCOMING LIVE EVENTS (WEBINARS / PRESENTATIONS and SEMINARS)', '', 'inherit', 'closed', 'closed', '', '4239-revision-v1', '', '', '2017-12-15 12:02:14', '2017-12-15 17:02:14', '', 4239, 'https://weeklyfxdrivethru.com/4239-revision-v1/', 0, 'revision', '', 0),
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(10680, 1, '2017-12-16 14:34:34', '2017-12-16 19:34:34', '<ol>\r\n 	<li><span style=\"font-size: 16pt;\"><strong>THE FIRST FEW SHOTS:</strong></span></li>\r\n</ol>\r\nWith a tear in my eye and sadness in my heart, I have to announce that this is the last DRIVE THRU blog of 2017. My arse… I can’t wait for the Christmas break; I am looking forward to Turkey, bingeing on TV and Football and having a few Jack Daniels or glasses of Shiraz or Pinot Noir without worrying about getting up early for news events in the European session.\r\n\r\nSo, we have had the FED rate hike, with Janet Yellen’s farewell press conference, the BOE and SNB staying pat and Draghi at the ECB running through a press conference ensuring that he continues to emphasize low rates, support forever or even longer than that.\r\n\r\nJanet Yellen delivered a dovish rate hike, the USD sold off, it was nothing more than a buy the rumour, sell the news event. She confirmed that interest rate hikes would continue and the “Dot” plot, which was also released at the same time looked for three more rate increases in 2018.\r\n\r\nThomas Jordan and Mark Carney, did not surprise at all. Policies at the SNB and BOE remain unchanged. Rather boring data releases.\r\n\r\nMario Draghi started off his press conference with the words “Happy Christmas”.\r\n\r\nFirstly, he could never say that in the U.S. without being frowned upon.\r\n\r\nSecondly, he looked ready for the staff Christmas Party, he was in a jolly mood, the most relaxed I have seen him for a long, long, long time. I lost count of references that were dovish, or mentioned extended periods of time and long after QE etc… There were several of them.\r\n\r\nAll the hard work had been done by the ECB in the previous 60 days. All Draghi had to do in the interim period was silence the governing council numpties that can’t keep their gobs shut so that the run in to the end of the year was smooth without awkward questions.\r\n\r\nBlasting through the data highlights from last week…\r\n\r\nOn top of the Central Bank statements, Retail Sales in the UK finally spiked over 1%. U.S. Retail Sales beat estimates, UK inflation hit 3.1%, however, UK average earnings were still lagging at 2.5%. But the prize for the best statistics last week had to go to Australian Employment Data, it beat by a landslide, 18.1K jobs expected but 61.6k recorded.\r\n\r\nHowever…\r\n\r\nWhile that all sounds great, the FX market, has recently been driven by news events.\r\n\r\nIn the U.S. it’s all about the GOP TAX BILL. That fiasco goes on, and on, and on, and on… The latest that I have read, (but being honest I am kind of bored with the whole GOP / TRUMP thing I am exhausted and apathy has set in, thank God, its Christmas!) was that LITTLE MARCO who was voting against has been bought and now he’s in favour and that voting in both houses should happen this week. However, there are still senators not 100% so we could see more twists right up to the votes being cast….\r\n\r\nEight years in opposition with two prime pieces of legislation that apparently united the GOP…. OBAMACARE &amp; TAX REFORM, and the GOP operates like a headless chicken. Sorry to keep with the poultry trend, but many Republicans have no idea what they are voting for….  For many I am certain that its tantamount to “Turkey’s voting for Christmas”.\r\n\r\nD.C. IS NO BETTER THAN A REALITY TV SHOW\r\n\r\nWith all confidence, I can safely say that one way or another TRUMP will dominate the U.S. markets this week. Initially, the Tax Bill has control of the markets moving forward. It will be this news event the makes the moves…. Then who knows what’s next to surface or reappear?\r\n\r\nIn Europe, BREXIT has the narrative. Theresa May loses a crucial house vote, flies off to Brussels hits the EU Christmas Party council meeting, sits on Santa’s knee, asks Santa for the OK to move to phase two of the BREXIT NEGOTIATIONS to be her wish for Christmas and low and behold… Phase two it is!\r\n\r\nI think that it’s fair to say this is now the meat of the BREXIT negotiations and in true politician style, its urgent, so they will start discussions in March 2018, leaving just a year to complete the divorce. It’s a tall order. The pathway forward is clear, but there will be twists and turns along the way.\r\n\r\nFrom an FX viewpoint, I am now trying to get my head around all the FUNDAMENTALS of the past 7 days or so, Central Banks, U.S. politics, BREXIT and China to have my goals clear in my head for Q1 and Q2 next year. I don\'t think that I can’t look too far beyond H1.\r\n\r\nNext year in FX should be just as challenging as this year, which leads me nicely forward…\r\n\r\n<strong>“BUY ONE GET ONE FREE”</strong>\r\n\r\nWith a new year on the horizon and another target of 10,000 pips for me to beat in 2018, I am launching a PREMIUM SERVICE promotion “BUY ONE GET ONE FREE” running until January 31st 2018.\r\n\r\nAll “sign-ups” under this promotion, please note that your subscription period will NOT start until January 8<sup>th</sup> 2018, which is the formal date for next year’s trading to commence. Having said that, trading will continue albeit at a greatly reduced involvement through the holidays.\r\n\r\nThe benefit of subscribing now means that you cannot only take advantage of the trading that does take place but you can also use the interim period as an opportunity to familiarize yourself with the website and location of the content.\r\nThe details of the “BUY ONE GET ONE FREE” promotion can be found on my home page under the TAB “PROMOTIONS”\r\n<strong> </strong>\r\n<ol start=\"2\">\r\n 	<li><span style=\"font-size: 16pt;\"><strong>MY (THE PREMIUM SERVICE) TRADING LAST WEEK:</strong></span></li>\r\n</ol>\r\nLast week was light on trading for me. There was just too much chop in the market to maintain my interest 100%.  Add to this the end of the year account balancing and reduced liquidity it didn’t really get the blood circulating through my veins at the normal rate.\r\n\r\nMy thoughts are probably a little “old school”, in the sense that why trade when you believe the market is not true and does sit with your TRADE PLAN. In other words, why take on the RISK?\r\n\r\nI was more focused last week myself on exits rather than entries…\r\n\r\nAs mentioned in previous “DRIVE THRU” blogs, I was looking to manage out of my USD/CAD position. Well, I off-loaded my long-term USD/CAD short position. I decided NOT to wait until next year. My belief is that this pair will move higher before resuming lower. All the indicators were against me, I was trying to swim upstream and whilst I gave myself time and several attempts to manufacture an out trade for my HEDGED position it was just NOT working so I decided to minimize additional losses and take my pain.\r\n\r\nThe end result is that at the moment I am running a loss position on “pips” for this month, with just a week to go until I close off for 2017.\r\n\r\n<u>PERFORMANCE 2017 TO DATE:</u>\r\n\r\n2017 YEAR TO DATE:                +12,116 net pips\r\n\r\nThis is roughly where I predicted the year end 2017 total will lie, I am well above my net 10,000 pip objective.\r\n\r\n<strong> </strong>\r\n\r\n<strong>          3. <span style=\"font-size: 16pt;\">THE FX MARKET PLACE THIS WEEK:</span></strong>\r\n\r\n&nbsp;\r\n\r\n<span style=\"font-size: 14pt;\"><u>3:1. THIS WEEK’S ECONOMIC DATA RELEASES:</u></span>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/ECON-DATA-17122017.png\"><img class=\"aligncenter size-large wp-image-10643\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/ECON-DATA-17122017-1024x829.png\" alt=\"\" width=\"1024\" height=\"829\" /></a>\r\n\r\n&nbsp;\r\n\r\n<span style=\"font-size: 14pt;\"><u>3:2. MY THOUGHTS ON THIS WEEK’S ECONOMIC DATA:</u></span>\r\n\r\nThis week, will be a strange one as we wind down for Christmas. There are only a couple of economic releases that will make sure that I am around for “LIVE” the rest I will pick up via Twitter.\r\n\r\nThe year-end movements and re-balancing for most institutions took place last Friday. In my opinion, liquidity could be dreadful this week. Moves could therefore be exaggerated; therefore, one should be very cautious.\r\n\r\n<strong><u>NZD:</u></strong><u> GDP</u>.\r\n\r\nWhilst this is a quarterly backwards looking number, it is a number that the markets respect.\r\n\r\nA word of caution. This data is scheduled for release Wednesday at the start of Asian Trading. At the best of times Asian Trading is thin. At this time of the year it could be brutal.\r\n\r\nGiven the political situation in New Zealand, this number should be noted as it should reflect most of the initial period of the new Labour governments tenure. If it is a poor number, I do not think that too much can be attributed to the new Labour government, although in economics as well as politics bad news does stick… at least initially.\r\n\r\nRight now, the NZD looks strong and a good number here could project it well above the .7070 (38% Fib. retracement) towards the next trend line resistance around 0.7200.\r\n\r\nI would be very surprised if we see such a projected move but stranger things have happened in a thin market trading environment.\r\n\r\n<strong><u>\r\nCAD:</u></strong><u> CPi, RETAIL SALES and GDP.</u>\r\n\r\nStephen Poloz, Governor of the BOC, is not on my 2017 Christmas card list. He shot the USD/CAD lower the day after I took losses… bugger!\r\n\r\nMedium-term, I do see the BOC having little alternative but to raise rates to keep differentials with the FED intact.\r\n\r\nAll of this data coming in line or at least beating the previous releases as a minimum is required to give Poloz support to move on rates early in 2018. The next BOC statement is scheduled on January 17th, the following one which is when I think he will raise interest rates is scheduled for March 7th, 2018.\r\n\r\nIncreasing interest rates then will beat the first possibility of another FED rise. The FOMC meet March 21st, but the smart money is on a U.S. rise at the FOMC June 13th meeting.\r\n\r\nInterest rate conjecture placed to one side, this data takes on greater importance given the latest FED policy statement.\r\n\r\n&nbsp;\r\n\r\n<strong><u>GBP:</u></strong><u> CURRENT ACCOUNT.</u>\r\n\r\nI am not an economist, nor do I consider myself any sort of expert in this area but as with most things, a little knowledge is dangerous.\r\n\r\nFadó, fadó (a long, long time ago), well it seems it now, I studied Government and Politics, Economics and Commerce in my last years of education. Bits and pieces are still stuck in the grey matter inside my skull.\r\n\r\nThis data (Current Account) is largely ignored by the press and markets. I believe with BREXIT it’s probably one of the key pieces of data that the H.M. Treasury and the BOE examine it under a microscope.\r\n\r\nThis is all about the health of an economy.\r\n\r\nIt is the balance sheet of trade and services and monetary transfers in and out of the UK.\r\n\r\nCombined with BREXIT, the fact that the UK is basically a service industry economy and the BREXIT effect on the City of London through companies exiting the UK, could have a huge effect on the CURRENT ACCOUNT as monies will be re-directed away from the UK.\r\n\r\nThis affects jobs directly in Financial services based in the UK as well direct and indirect support service jobs and business viability.\r\n\r\nThe last print was GBP -23.2biliion. There are targets and limits; it is the pace of change that is also watched. It is somewhat of a stealth number at times. It should create a response in normal trading conditions. It just depends how many traders are around on December 22nd!\r\n\r\nIt is worth following re the fundamentals, in my opinion.\r\n\r\n&nbsp;\r\n\r\n<span style=\"font-size: 14pt;\"><u>3:3. USD MAJORS – SUPPORT &amp; RESISTANCE with BIAS:</u></span>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/TCHART-17122017.png\"><img class=\"aligncenter size-large wp-image-10644\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/TCHART-17122017-1024x887.png\" alt=\"\" width=\"1024\" height=\"887\" /></a>\r\n\r\n<u><span style=\"font-size: 14pt;\">3:4. USD – TRADING CHARTS:</span> </u>\r\n\r\nMore often than not I will use DAILY CHARTS for my analysis. My commentary and thoughts for each trading pair are above the charts.\r\n\r\nCANDLE ANALYSIS: I have now added my thoughts based on the closing daily and weekly candles to the weeks trading.\r\n\r\n<strong>\r\n<u>EUR/USD:</u>\r\n</strong>\r\nDAILY CLOSING CANDLE:           SHOOTING STAR\r\nWEEKLY CLOSING CANDLE:      SPINNING TOP\r\n\r\nOn FOMC day, there was a very, very strong move higher as you can see on the chart below. Usually, when someone says to me what follows a big GREEN candle, like the one seen last Wednesday, 9 times out of 10 I would reply, another BIG GREEN candle.\r\n\r\nHowever, the following day was the ECB rate announcement and press conference in which, Mario Draghi was a little more dovish than expected and he forced the single currency lower.\r\n\r\nFriday was the end of the year bookkeeping adjustment day and we saw a chunk of volatility in the markets. Will we pull higher once again after the weekend into this week?\r\n\r\nThe range is quite well defined at 1.1715 to 1.1960.\r\n\r\nWe have ended the week bearish but until we break support or resistance we are in my opinion just range trading.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/EURUSD-D-171222017.png\"><img class=\"aligncenter size-large wp-image-10656\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/EURUSD-D-171222017-1024x464.png\" alt=\"\" width=\"1024\" height=\"464\" /></a>\r\n\r\n&nbsp;\r\n\r\n<strong><u>GBP/USD:</u></strong>\r\n\r\nDAILY CLOSING CANDLE: CLOSING CHART PATTERN = EVENING STAR\r\nWEEKLY CLOSING CANDLE: SHOOTING STAR\r\n\r\nIt’s all rather bearish if these candles play out for the start of the week.\r\n\r\nFrom my perspective, the flag pattern shown on the chart is still in play unless we break below 1.3290, at which point it is invalidated and all bets are off on the bullish side.\r\n\r\nShould 1.3300 hold, the measured move with the flag is 1.3740.\r\n\r\nWe just have to bear in mind any BREXIT news vis-a-via the cable.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/GBPUSD-D-17122017.png\"><img class=\"aligncenter size-large wp-image-10657\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/GBPUSD-D-17122017-1024x464.png\" alt=\"\" width=\"1024\" height=\"464\" /></a>\r\n\r\n&nbsp;\r\n\r\n<strong><u>AUD/USD:</u></strong>\r\n\r\nDAILY CLOSING CANDLE:           SHOOTING STAR\r\nWEEKLY CLOSING CANDLE:      BULLISH\r\n\r\nWe are in a triangle pattern and this pair bounced nicely off a December 2016 trend line.\r\n\r\nWe do not have alignment with candles and this matches a non-alignment with sentiment.\r\n\r\nWe have to see above 0.7740 or below 0.7490 to get a momentum move confirmed in my opinion.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/AUDUSD-D-17122017.png\"><img class=\"aligncenter size-large wp-image-10655\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/AUDUSD-D-17122017-1024x464.png\" alt=\"\" width=\"1024\" height=\"464\" /></a>\r\n\r\n&nbsp;\r\n\r\n<strong><u>NZD/USD:</u></strong>\r\n\r\nDAILY CLOSING CANDLE:           BEARISH\r\nWEEKLY CLOSING CANDLE:      BULLISH<strong><u>\r\n</u></strong>\r\nSentiment has shifted bullish, but the candles are lagging a little. The daily close represents the USD strength into the end of the year bookkeeping adjustments.\r\n\r\nEarly this week, I expect this pair to move higher back with trend and sentiment.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/NZDUSD-D-17122017.png\"><img class=\"aligncenter size-large wp-image-10658\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/NZDUSD-D-17122017-1024x464.png\" alt=\"\" width=\"1024\" height=\"464\" /></a>\r\n\r\n&nbsp;\r\n\r\n<strong><u>USD/CAD:</u></strong>\r\n\r\nDAILY CLOSING CANDLE:           BULLISH\r\nWEEKLY CLOSING CANDLE:      HAMMER\r\n\r\nThis pair looks like it is going to move higher and the levels of 1.3000 and 1.3100 appear to be sucking this pair in like a tractor beam from Star Trek.\r\n\r\nWe have a bullish wedge at 1.2915.\r\n\r\nIf this breaks I will have to get long even though I am a little reluctant given the time of the year. In my experience moves out of wedge tend to be very powerful and decisive.\r\n\r\nOn the basis that I booked a loss on this pair to the short side last week the upside potential break would vindicate my decision to cut and run.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/USDCAD-D-17122017.png\"><img class=\"aligncenter size-large wp-image-10659\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/USDCAD-D-17122017-1024x464.png\" alt=\"\" width=\"1024\" height=\"464\" /></a>\r\n\r\n<strong><u>USD/CHF:</u></strong>\r\n\r\nDAILY CLOSING CANDLE:           INDECISIVE\r\nWEEKLY CLOSING CANDLE:      HANGING MAN (BULLISH)<strong>\r\n</strong>\r\nAlbeit that last Friday’s candle is neither one thing nor the other, I still feel this pair has a potential upside break ahead of it.\r\n\r\nThe keys levels are 0.9860 and 0.9940.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/USDCHF-D-17122017.png\"><img class=\"aligncenter size-large wp-image-10660\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/USDCHF-D-17122017-1024x464.png\" alt=\"\" width=\"1024\" height=\"464\" /></a>\r\n\r\n<strong><u>USD/JPY:</u></strong>\r\n\r\nDAILY CLOSING CANDLE:           BULLISH ENGULFING\r\nWEEKLY CLOSING CANDLE:      BEARISH ENGULFING<u>\r\n</u>\r\nBoth candles are powerful looking candles. The issue is that they are contrary to each other.\r\n\r\nMy thought process here is that the WEEKLY candle should outweigh the DAILY candle. Given the day that last Friday was, that is, closing the books for most institutions on 2017, I would be inclined to believe that this would add weight to my thought process.\r\n\r\nHowever, a word of caution.\r\n\r\nDon’t count on anything as we are entering the silly season vis-à-vis liquidity and I would not believe anything until I see a good couple of sessions pass by to try to establish some confirmation. I know that that sounds a little unrealistic but it is the time of the year that drives my thought process this way.\r\n\r\nWatching levels at 112.00 and 113.20 may give a better visual for directional confirmation.\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/USDJPY-D-17122017.png\"><img class=\"aligncenter size-large wp-image-10661\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/USDJPY-D-17122017-1024x464.png\" alt=\"\" width=\"1024\" height=\"464\" /></a>\r\n\r\n&nbsp;\r\n\r\n<span style=\"font-size: 14pt;\"><u>3:5. MY THOUGHTS ON HOW TO PLAY FX THIS WEEK:</u></span>\r\n\r\nIf you are going to trade this week, keep it very small and DO NOT get too involved.\r\n\r\nLiquidity will get worse as the week progresses with most of the institutions, especially in the U.S. well into Christmas Party mode with senior management probably issued directives on what constitutes sexual harassment to be handed down in memo form or discussed in group meetings. There will be headlines early next year… guaranteed. I would say those executives who consider themselves on a “fast track” will avoid the parties. It just takes an accusation and it’s all over.\r\n\r\nGetting back on point…\r\n\r\nThere are market movers in the economic data releases but I think more disturbingly the market will be driven by the GOP and TRUMP.\r\n\r\nI am NOT a believer that the Asian market is good for FX. Liquidity is just getting lower and lower, year by year and the vast majority of times, Asian moves are reversed in Europe. If liquidity is usually poor. Just imagine it this week.\r\n\r\nThe UK liquidity will be better but also poor.\r\n\r\nTherefore, here’s a tip. If you need to trade, trade only the following times when liquidity will be at its highest: 8.00AM EST to NOON EST.\r\n\r\nBe extremely careful with cross rates as they will be the first to suffer from the lower liquidity and exaggerated moves.\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n<ol start=\"4\">\r\n 	<li><span style=\"font-size: 16pt;\"><strong> PREMIUM SERVICE SUBSCRIBERS ONLY:</strong></span></li>\r\n</ol>\r\n(Only SUBSCRIBERS to the PREMIUM SERVICE can view this section of the BLOG)\r\n\r\n&nbsp;\r\n\r\n<span style=\"font-size: 14pt;\"><u>4:1. TRADING REVIEW:</u></span>\r\n\r\nJust 5 days to go until I close the book on 2017. As you may have noted, I am already into setting up for 2018. Liquidity has dropped considerably already this year and this coming week could be difficult.\r\n\r\nI have already advised you of changes for 2018 and there are still a few updates left to complete. So, whilst it may look as if there is masterly inactivity taking place in Nova Scotia, I can assure you that that is far from the reality.\r\n\r\nAs you know, I took the USD/CAD position away. My thoughts were simple, the Stochastic\'s and RSi were all against me. Poloz was against me and the CAD data has plateaued or reversed. Basically, I was fighting against the current and a tractor beam to 1.3000, or even 1.3100 looked to be in play. Whilst I could support the HEDGE the attempted HEDGE OUT trades I could not and I made the decision after the FOMC to exit the position in total on lows. Obviously, the next day out comes Poloz being a little more hawkish, given that the Fed had just raised… typical!\r\n\r\nIt was a goal from last week to exit!\r\n\r\nSo, I ended the year with a series of losing trades…argh!!\r\n\r\nNevertheless, the PREMIUM SERVICE total for 2017 will be above 12,000 pips when all said and done and to be honest when I came back from Australia and New Zealand in July, I thought to get to 10,000 could be a challenge given the way news headlines had started to direct the markets.\r\n\r\nThe Next DRIVE THRU is on January 13th. The official back to trading date will be Monday January 8th, however, I should be up and running before then. You will know via twitter what the story is.\r\n\r\n<u>\r\n</u><span style=\"font-size: 14pt;\"><u>4:2. SENTIMENT CHART,</u><u> FUNDAMENTAL &amp; MACRO THOUGHTS</u><u>:</u></span>\r\n\r\nI think we will drift in ranges from now until the middle of January next year. There is nothing to get excited about at all.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/SENTIMENT-17122017.png\"><img class=\"aligncenter size-large wp-image-10649\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/SENTIMENT-17122017-790x1024.png\" alt=\"\" width=\"790\" height=\"1024\" /></a>\r\n\r\n&nbsp;\r\n\r\n<span style=\"font-size: 14pt;\"><u>4:3. TRADING PLANS:</u></span>\r\n\r\n<span style=\"font-size: 14pt;\"><u>4:3.1. TRADING PLAN OVERVIEW THIS WEEK:</u></span>\r\n\r\nMy action plan for the week is: -\r\n<ol>\r\n 	<li>Complete next batch of PREMIUM SERVICE 2018 updates.</li>\r\n 	<li>Close off the 2017 performance and report thru blog pages and twitter.</li>\r\n 	<li>Produce a 2018 key long term trade document to be reviewed in this section of the DRIVE THRU blog each week.</li>\r\n 	<li>Prepare POWER POINT PROMOTION document and record WEBINAR for marketing campaign.</li>\r\n</ol>\r\n&nbsp;\r\n\r\n<span style=\"font-size: 14pt;\"><u>4:3.2.  EXISTING CORE TRADES (PLANS &amp; STRATEGIES):</u></span>\r\n\r\nI only retain my CORE long AUD/NZD trades through the Christmas period. I have 5 x LIVE trades.\r\n\r\n&nbsp;\r\n\r\n<span style=\"font-size: 14pt;\"><u>4:4. CURRENT LIVE TRADES &amp; LIMIT ORDERS:</u></span>\r\n\r\nCURRENT LIVE TRADES:\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/LIVE2-17122017.png\"><img class=\"aligncenter size-large wp-image-10648\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/LIVE2-17122017-1024x1021.png\" alt=\"\" width=\"1024\" height=\"1021\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\nCURRENT LIMIT ORDER TRADES: - There are none.\r\n\r\n&nbsp;\r\n\r\n<span style=\"font-size: 14pt;\"><u>4:5. FX BROKER NEWS with their MARKET FEEDBACK:</u></span>\r\n\r\nExpect a rush of bonus offers of cash, iPhones and iPAD’s. There will be a frenzy to grab new clients in readiness for the new trading year.\r\n\r\nRemember with brokers there are NO free lunches.\r\n\r\nMy two recommended brokers HANTEC MARKETS (London) and VANTAGE FX (Sydney), remain in position for 2018. I am really happy with these guys and if you want an additional account please sign up though the banner on my website to be in the PREMIUM SERVICE group.\r\n\r\n&nbsp;\r\n\r\n<strong> </strong>\r\n<ol start=\"5\">\r\n 	<li><span style=\"font-size: 16pt;\"><strong> THE PREMIUM SERVICE:</strong></span></li>\r\n</ol>\r\nThe PREMIUM SERVICE is my own subscriber based Forex support service that offers subscribers my suggested trade set-ups and market commentaries.\r\n\r\n<span style=\"font-size: 14pt;\"><u>5:1. CURRENT 2017 PREMIUM SERVICE PERFORMANCE:</u></span>\r\n\r\nYEAR TO DATE:      +12,116 net pips\r\n\r\nIn sales mode; I am now planning for 2018. I will have live trades through the Christmas and New Year holidays so I will be on twitter and probably email.\r\n\r\nIn 2018, the PREMIUM SERVICE will return with a new TRADE STYLE option for subscribers to consider and the SUBSCRIBER SECTION of the “DRIVE THRU” will be larger with greater emphasis on sentiment and market direction. Therefore, now is a great time to join the PREMIUM SERVICE get familiar and ready to go with the 2018 launch!!\r\n\r\n<strong> </strong>\r\n\r\n<span style=\"font-size: 14pt;\"><u>5:2. HOW TO SUBSCRIBE TO THE PREMIUM SERVICE:</u></span>\r\n\r\nIf you like what you’ve read in this blog and should you want to go a stage further and subscribe to the PREMIUM SERVICE, this can be done on my website <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a> under the Tab SUBSCRIBE HERE.\r\n\r\n<u>PLEASE NOTE</u>: The TAB on my home page titled PROMOTIONS contains details of the “BUY ONE GET ONE FREE” campaign that is currently in place.\r\n\r\nSubscribing to the PREMIUM SERVICE is not just about receiving a larger “DRIVE THRU” blog packed with more trading supporting information, my thoughts and ideas. There is much more to a subscription than those things. Check it all out under the tab HISTORY &amp; PERFORMANCE on my website <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a>\r\n\r\nAlternatively, if you prefer to watch a video recording about the PREMIUM SERVICE, click the link below. You will be directed to a 40-minute webinar presentation entitled “AN INTRODUCTION TO THE PREMIUM SERVICE”.\r\n\r\n<a href=\"http://screencasts.weeklyfxdrivethru.com/watch/cb6fqiIAZX\">http://screencasts.weeklyfxdrivethru.com/watch/cb6fqiIAZX</a>\r\n\r\nTo subscribe to THE PREMIUM SERVICE, you will require a valid credit card.\r\n<strong> </strong>\r\n\r\n<strong> </strong>\r\n<ol start=\"6\">\r\n 	<li><span style=\"font-size: 16pt;\"><strong> THE FINAL SHOTS:</strong></span></li>\r\n</ol>\r\n<span style=\"font-size: 14pt;\"><u>6:1. WANT A FREE PREMIUM SERVICE SUBSCRIPTION:</u></span>\r\n\r\nIf you like what you have read in this blog and would like the chance to win a FREE SUBSCRIPTION valued at CAD$150.00, all you need to do is subscribe to my FREE NEWSLETTER (this blog), by adding your email address on my welcome page just below my cube logo at <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a>\r\n\r\n<span style=\"font-size: 14pt;\"><u>6:2. CLOSING THOUGHTS:</u></span>\r\n\r\nNothing more to add here, I have said enough except\r\n\r\nAs usual…\r\n\r\nAlways remember longevity in Forex trading can only be achieved through trading with good RISK and MONEY MANAGEMENT, and above all set your position sizes in accordance with the size of your account and allow for some flexibility.\r\n\r\nFinally …\r\n\r\nThanks for your support during 2017.\r\n\r\nHappy Christmas and have a great trading year in 2018.\r\n\r\nScott Pickering\r\nThe Pip Accumulator\r\nTwitter: @ThePremService\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/disclaimer/\">http://weeklyfxdrivethru.com/disclaimer/</a>\r\n\r\nBLOG VERSION: #159 THE PREMIUM SERVICE\r\n17th December 2017', 'THE REALITY TV SHOW IN D.C. ROLLS ON', '', 'publish', 'open', 'closed', '', 'reality-tv-show-d-c-rolls', '', '', '2018-01-18 13:57:07', '2018-01-18 18:57:07', '', 0, 'https://weeklyfxdrivethru.com/?post_type=member_posts&#038;p=10680', 0, 'member_posts', '', 0);
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(10681, 1, '2017-12-16 14:34:34', '2017-12-16 19:34:34', '<ol>\r\n 	<li><span style=\"font-size: 16pt;\"><strong>THE FIRST FEW SHOTS:</strong></span></li>\r\n</ol>\r\nWith a tear in my eye and sadness in my heart, I have to announce that this is the last DRIVE THRU blog of 2017. My arse… I can’t wait for the Christmas break; I am looking forward to Turkey, bingeing on TV and Football and having a few Jack Daniels or glasses of Shiraz or Pinot Noir without worrying about getting up early for news events in the European session.\r\n\r\nSo, we have had the FED rate hike, with Janet Yellen’s farewell press conference, the BOE and SNB staying pat and Draghi at the ECB running through a press conference ensuring that he continues to emphasize low rates, support forever or even longer than that.\r\n\r\nJanet Yellen delivered a dovish rate hike, the USD sold off, it was nothing more than a buy the rumour, sell the news event. She confirmed that interest rate hikes would continue and the “Dot” plot, which was also released at the same time looked for three more rate increases in 2018.\r\n\r\nThomas Jordan and Mark Carney, did not surprise at all. Policies at the SNB and BOE remain unchanged. Rather boring data releases.\r\n\r\nMario Draghi started off his press conference with the words “Happy Christmas”.\r\n\r\nFirstly, he could never say that in the U.S. without being frowned upon.\r\n\r\nSecondly, he looked ready for the staff Christmas Party, he was in a jolly mood, the most relaxed I have seen him for a long, long, long time. I lost count of references that were dovish, or mentioned extended periods of time and long after QE etc… There were several of them.\r\n\r\nAll the hard work had been done by the ECB in the previous 60 days. All Draghi had to do in the interim period was silence the governing council numpties that can’t keep their gobs shut so that the run in to the end of the year was smooth without awkward questions.\r\n\r\nBlasting through the data highlights from last week…\r\n\r\nOn top of the Central Bank statements, Retail Sales in the UK finally spiked over 1%. U.S. Retail Sales beat estimates, UK inflation hit 3.1%, however, UK average earnings were still lagging at 2.5%. But the prize for the best statistics last week had to go to Australian Employment Data, it beat by a landslide, 18.1K jobs expected but 61.6k recorded.\r\n\r\nHowever…\r\n\r\nWhile that all sounds great, the FX market, has recently been driven by news events.\r\n\r\nIn the U.S. it’s all about the GOP TAX BILL. That fiasco goes on, and on, and on, and on… The latest that I have read, (but being honest I am kind of bored with the whole GOP / TRUMP thing I am exhausted and apathy has set in, thank God, its Christmas!) was that LITTLE MARCO who was voting against has been bought and now he’s in favour and that voting in both houses should happen this week. However, there are still senators not 100% so we could see more twists right up to the votes being cast….\r\n\r\nEight years in opposition with two prime pieces of legislation that apparently united the GOP…. OBAMACARE &amp; TAX REFORM, and the GOP operates like a headless chicken. Sorry to keep with the poultry trend, but many Republicans have no idea what they are voting for….  For many I am certain that its tantamount to “Turkey’s voting for Christmas”.\r\n\r\nD.C. IS NO BETTER THAN A REALITY TV SHOW\r\n\r\nWith all confidence, I can safely say that one way or another TRUMP will dominate the U.S. markets this week. Initially, the Tax Bill has control of the markets moving forward. It will be this news event the makes the moves…. Then who knows what’s next to surface or reappear?\r\n\r\nIn Europe, BREXIT has the narrative. Theresa May loses a crucial house vote, flies off to Brussels hits the EU Christmas Party council meeting, sits on Santa’s knee, asks Santa for the OK to move to phase two of the BREXIT NEGOTIATIONS to be her wish for Christmas and low and behold… Phase two it is!\r\n\r\nI think that it’s fair to say this is now the meat of the BREXIT negotiations and in true politician style, its urgent, so they will start discussions in March 2018, leaving just a year to complete the divorce. It’s a tall order. The pathway forward is clear, but there will be twists and turns along the way.\r\n\r\nFrom an FX viewpoint, I am now trying to get my head around all the FUNDAMENTALS of the past 7 days or so, Central Banks, U.S. politics, BREXIT and China to have my goals clear in my head for Q1 and Q2 next year. I don\'t think that I can’t look too far beyond H1.\r\n\r\nNext year in FX should be just as challenging as this year, which leads me nicely forward…\r\n\r\n<strong>“BUY ONE GET ONE FREE”</strong>\r\n\r\nWith a new year on the horizon and another target of 10,000 pips for me to beat in 2018, I am launching a PREMIUM SERVICE promotion “BUY ONE GET ONE FREE” running until January 31st 2018.\r\n\r\nAll “sign-ups” under this promotion, please note that your subscription period will NOT start until January 8<sup>th</sup> 2018, which is the formal date for next year’s trading to commence. Having said that, trading will continue albeit at a greatly reduced involvement through the holidays.\r\n\r\nThe benefit of subscribing now means that you cannot only take advantage of the trading that does take place but you can also use the interim period as an opportunity to familiarize yourself with the website and location of the content.\r\nThe details of the “BUY ONE GET ONE FREE” promotion can be found on my home page under the TAB “PROMOTIONS”\r\n<strong> </strong>\r\n<ol start=\"2\">\r\n 	<li><span style=\"font-size: 16pt;\"><strong>MY (THE PREMIUM SERVICE) TRADING LAST WEEK:</strong></span></li>\r\n</ol>\r\nLast week was light on trading for me. There was just too much chop in the market to maintain my interest 100%.  Add to this the end of the year account balancing and reduced liquidity it didn’t really get the blood circulating through my veins at the normal rate.\r\n\r\nMy thoughts are probably a little “old school”, in the sense that why trade when you believe the market is not true and does sit with your TRADE PLAN. In other words, why take on the RISK?\r\n\r\nI was more focused last week myself on exits rather than entries…\r\n\r\nAs mentioned in previous “DRIVE THRU” blogs, I was looking to manage out of my USD/CAD position. Well, I off-loaded my long-term USD/CAD short position. I decided NOT to wait until next year. My belief is that this pair will move higher before resuming lower. All the indicators were against me, I was trying to swim upstream and whilst I gave myself time and several attempts to manufacture an out trade for my HEDGED position it was just NOT working so I decided to minimize additional losses and take my pain.\r\n\r\nThe end result is that at the moment I am running a loss position on “pips” for this month, with just a week to go until I close off for 2017.\r\n\r\n<u>PERFORMANCE 2017 TO DATE:</u>\r\n\r\n2017 YEAR TO DATE:                +12,116 net pips\r\n\r\nThis is roughly where I predicted the year end 2017 total will lie, I am well above my net 10,000 pip objective.\r\n\r\n<strong> </strong>\r\n\r\n<strong>          3. <span style=\"font-size: 16pt;\">THE FX MARKET PLACE THIS WEEK:</span>\r\n\r\n</strong>\r\n\r\n<span style=\"font-size: 14pt;\"><u>3:1. THIS WEEK’S ECONOMIC DATA RELEASES:</u></span>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/ECON-DATA-17122017.png\"><img class=\"aligncenter size-large wp-image-10643\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/ECON-DATA-17122017-1024x829.png\" alt=\"\" width=\"1024\" height=\"829\" /></a>\r\n\r\n&nbsp;\r\n\r\n<span style=\"font-size: 14pt;\"><u>3:2. MY THOUGHTS ON THIS WEEK’S ECONOMIC DATA:</u></span>\r\n\r\nThis week, will be a strange one as we wind down for Christmas. There are only a couple of economic releases that will make sure that I am around for “LIVE” the rest I will pick up via Twitter.\r\n\r\nThe year-end movements and re-balancing for most institutions took place last Friday. In my opinion, liquidity could be dreadful this week. Moves could therefore be exaggerated; therefore, one should be very cautious.\r\n\r\n<strong><u>NZD:</u></strong><u> GDP</u>.\r\n\r\nWhilst this is a quarterly backwards looking number, it is a number that the markets respect.\r\n\r\nA word of caution. This data is scheduled for release Wednesday at the start of Asian Trading. At the best of times Asian Trading is thin. At this time of the year it could be brutal.\r\n\r\nGiven the political situation in New Zealand, this number should be noted as it should reflect most of the initial period of the new Labour governments tenure. If it is a poor number, I do not think that too much can be attributed to the new Labour government, although in economics as well as politics bad news does stick… at least initially.\r\n\r\nRight now, the NZD looks strong and a good number here could project it well above the .7070 (38% Fib. retracement) towards the next trend line resistance around 0.7200.\r\n\r\nI would be very surprised if we see such a projected move but stranger things have happened in a thin market trading environment.\r\n\r\n<strong><u>\r\nCAD:</u></strong><u> CPi, RETAIL SALES and GDP.</u>\r\n\r\nStephen Poloz, Governor of the BOC, is not on my 2017 Christmas card list. He shot the USD/CAD lower the day after I took losses… bugger!\r\n\r\nMedium-term, I do see the BOC having little alternative but to raise rates to keep differentials with the FED intact.\r\n\r\nAll of this data coming in line or at least beating the previous releases as a minimum is required to give Poloz support to move on rates early in 2018. The next BOC statement is scheduled on January 17th, the following one which is when I think he will raise interest rates is scheduled for March 7th, 2018.\r\n\r\nIncreasing interest rates then will beat the first possibility of another FED rise. The FOMC meet March 21st, but the smart money is on a U.S. rise at the FOMC June 13th meeting.\r\n\r\nInterest rate conjecture placed to one side, this data takes on greater importance given the latest FED policy statement.\r\n\r\n&nbsp;\r\n\r\n<strong><u>GBP:</u></strong><u> CURRENT ACCOUNT.</u>\r\n\r\nI am not an economist, nor do I consider myself any sort of expert in this area but as with most things, a little knowledge is dangerous.\r\n\r\nFadó, fadó (a long, long time ago), well it seems it now, I studied Government and Politics, Economics and Commerce in my last years of education. Bits and pieces are still stuck in the grey matter inside my skull.\r\n\r\nThis data (Current Account) is largely ignored by the press and markets. I believe with BREXIT it’s probably one of the key pieces of data that the H.M. Treasury and the BOE examine it under a microscope.\r\n\r\nThis is all about the health of an economy.\r\n\r\nIt is the balance sheet of trade and services and monetary transfers in and out of the UK.\r\n\r\nCombined with BREXIT, the fact that the UK is basically a service industry economy and the BREXIT effect on the City of London through companies exiting the UK, could have a huge effect on the CURRENT ACCOUNT as monies will be re-directed away from the UK.\r\n\r\nThis affects jobs directly in Financial services based in the UK as well direct and indirect support service jobs and business viability.\r\n\r\nThe last print was GBP -23.2biliion. There are targets and limits; it is the pace of change that is also watched. It is somewhat of a stealth number at times. It should create a response in normal trading conditions. It just depends how many traders are around on December 22nd!\r\n\r\nIt is worth following re the fundamentals, in my opinion.\r\n\r\n&nbsp;\r\n\r\n<span style=\"font-size: 14pt;\"><u>3:3. USD MAJORS – SUPPORT &amp; RESISTANCE with BIAS:</u></span>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/TCHART-17122017.png\"><img class=\"aligncenter size-large wp-image-10644\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/TCHART-17122017-1024x887.png\" alt=\"\" width=\"1024\" height=\"887\" /></a>\r\n\r\n<u><span style=\"font-size: 14pt;\">3:4. USD – TRADING CHARTS:</span> </u>\r\n\r\nMore often than not I will use DAILY CHARTS for my analysis. My commentary and thoughts for each trading pair are above the charts.\r\n\r\nCANDLE ANALYSIS: I have now added my thoughts based on the closing daily and weekly candles to the weeks trading.\r\n\r\n<strong>\r\n<u>EUR/USD:</u>\r\n</strong>\r\nDAILY CLOSING CANDLE:           SHOOTING STAR\r\nWEEKLY CLOSING CANDLE:      SPINNING TOP\r\n\r\nOn FOMC day, there was a very, very strong move higher as you can see on the chart below. Usually, when someone says to me what follows a big GREEN candle, like the one seen last Wednesday, 9 times out of 10 I would reply, another BIG GREEN candle.\r\n\r\nHowever, the following day was the ECB rate announcement and press conference in which, Mario Draghi was a little more dovish than expected and he forced the single currency lower.\r\n\r\nFriday was the end of the year bookkeeping adjustment day and we saw a chunk of volatility in the markets. Will we pull higher once again after the weekend into this week?\r\n\r\nThe range is quite well defined at 1.1715 to 1.1960.\r\n\r\nWe have ended the week bearish but until we break support or resistance we are in my opinion just range trading.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/EURUSD-D-171222017.png\"><img class=\"aligncenter size-large wp-image-10656\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/EURUSD-D-171222017-1024x464.png\" alt=\"\" width=\"1024\" height=\"464\" /></a>\r\n\r\n&nbsp;\r\n\r\n<strong><u>GBP/USD:</u></strong>\r\n\r\nDAILY CLOSING CANDLE: CLOSING CHART PATTERN = EVENING STAR\r\nWEEKLY CLOSING CANDLE: SHOOTING STAR\r\n\r\nIt’s all rather bearish if these candles play out for the start of the week.\r\n\r\nFrom my perspective, the flag pattern shown on the chart is still in play unless we break below 1.3290, at which point it is invalidated and all bets are off on the bullish side.\r\n\r\nShould 1.3300 hold, the measured move with the flag is 1.3740.\r\n\r\nWe just have to bear in mind any BREXIT news vis-a-via the cable.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/GBPUSD-D-17122017.png\"><img class=\"aligncenter size-large wp-image-10657\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/GBPUSD-D-17122017-1024x464.png\" alt=\"\" width=\"1024\" height=\"464\" /></a>\r\n\r\n&nbsp;\r\n\r\n<strong><u>AUD/USD:</u></strong>\r\n\r\nDAILY CLOSING CANDLE:           SHOOTING STAR\r\nWEEKLY CLOSING CANDLE:      BULLISH\r\n\r\nWe are in a triangle pattern and this pair bounced nicely off a December 2016 trend line.\r\n\r\nWe do not have alignment with candles and this matches a non-alignment with sentiment.\r\n\r\nWe have to see above 0.7740 or below 0.7490 to get a momentum move confirmed in my opinion.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/AUDUSD-D-17122017.png\"><img class=\"aligncenter size-large wp-image-10655\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/AUDUSD-D-17122017-1024x464.png\" alt=\"\" width=\"1024\" height=\"464\" /></a>\r\n\r\n&nbsp;\r\n\r\n<strong><u>NZD/USD:</u></strong>\r\n\r\nDAILY CLOSING CANDLE:           BEARISH\r\nWEEKLY CLOSING CANDLE:      BULLISH<strong><u>\r\n</u></strong>\r\nSentiment has shifted bullish, but the candles are lagging a little. The daily close represents the USD strength into the end of the year bookkeeping adjustments.\r\n\r\nEarly this week, I expect this pair to move higher back with trend and sentiment.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/NZDUSD-D-17122017.png\"><img class=\"aligncenter size-large wp-image-10658\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/NZDUSD-D-17122017-1024x464.png\" alt=\"\" width=\"1024\" height=\"464\" /></a>\r\n\r\n&nbsp;\r\n\r\n<strong><u>USD/CAD:</u></strong>\r\n\r\nDAILY CLOSING CANDLE:           BULLISH\r\nWEEKLY CLOSING CANDLE:      HAMMER\r\n\r\nThis pair looks like it is going to move higher and the levels of 1.3000 and 1.3100 appear to be sucking this pair in like a tractor beam from Star Trek.\r\n\r\nWe have a bullish wedge at 1.2915.\r\n\r\nIf this breaks I will have to get long even though I am a little reluctant given the time of the year. In my experience moves out of wedge tend to be very powerful and decisive.\r\n\r\nOn the basis that I booked a loss on this pair to the short side last week the upside potential break would vindicate my decision to cut and run.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/USDCAD-D-17122017.png\"><img class=\"aligncenter size-large wp-image-10659\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/USDCAD-D-17122017-1024x464.png\" alt=\"\" width=\"1024\" height=\"464\" /></a>\r\n\r\n<strong><u>USD/CHF:</u></strong>\r\n\r\nDAILY CLOSING CANDLE:           INDECISIVE\r\nWEEKLY CLOSING CANDLE:      HANGING MAN (BULLISH)<strong>\r\n</strong>\r\nAlbeit that last Friday’s candle is neither one thing nor the other, I still feel this pair has a potential upside break ahead of it.\r\n\r\nThe keys levels are 0.9860 and 0.9940.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/USDCHF-D-17122017.png\"><img class=\"aligncenter size-large wp-image-10660\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/USDCHF-D-17122017-1024x464.png\" alt=\"\" width=\"1024\" height=\"464\" /></a>\r\n\r\n<strong><u>USD/JPY:</u></strong>\r\n\r\nDAILY CLOSING CANDLE:           BULLISH ENGULFING\r\nWEEKLY CLOSING CANDLE:      BEARISH ENGULFING<u>\r\n</u>\r\nBoth candles are powerful looking candles. The issue is that they are contrary to each other.\r\n\r\nMy thought process here is that the WEEKLY candle should outweigh the DAILY candle. Given the day that last Friday was, that is, closing the books for most institutions on 2017, I would be inclined to believe that this would add weight to my thought process.\r\n\r\nHowever, a word of caution.\r\n\r\nDon’t count on anything as we are entering the silly season vis-à-vis liquidity and I would not believe anything until I see a good couple of sessions pass by to try to establish some confirmation. I know that that sounds a little unrealistic but it is the time of the year that drives my thought process this way.\r\n\r\nWatching levels at 112.00 and 113.20 may give a better visual for directional confirmation.\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/USDJPY-D-17122017.png\"><img class=\"aligncenter size-large wp-image-10661\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/USDJPY-D-17122017-1024x464.png\" alt=\"\" width=\"1024\" height=\"464\" /></a>\r\n\r\n&nbsp;\r\n\r\n<span style=\"font-size: 14pt;\"><u>3:5. MY THOUGHTS ON HOW TO PLAY FX THIS WEEK:</u></span>\r\n\r\nIf you are going to trade this week, keep it very small and DO NOT get too involved.\r\n\r\nLiquidity will get worse as the week progresses with most of the institutions, especially in the U.S. well into Christmas Party mode with senior management probably issued directives on what constitutes sexual harassment to be handed down in memo form or discussed in group meetings. There will be headlines early next year… guaranteed. I would say those executives who consider themselves on a “fast track” will avoid the parties. It just takes an accusation and it’s all over.\r\n\r\nGetting back on point…\r\n\r\nThere are market movers in the economic data releases but I think more disturbingly the market will be driven by the GOP and TRUMP.\r\n\r\nI am NOT a believer that the Asian market is good for FX. Liquidity is just getting lower and lower, year by year and the vast majority of times, Asian moves are reversed in Europe. If liquidity is usually poor. Just imagine it this week.\r\n\r\nThe UK liquidity will be better but also poor.\r\n\r\nTherefore, here’s a tip. If you need to trade, trade only the following times when liquidity will be at its highest: 8.00AM EST to NOON EST.\r\n\r\nBe extremely careful with cross rates as they will be the first to suffer from the lower liquidity and exaggerated moves.\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n<ol start=\"4\">\r\n 	<li><span style=\"font-size: 16pt;\"><strong> PREMIUM SERVICE SUBSCRIBERS ONLY:</strong></span></li>\r\n</ol>\r\n(Only SUBSCRIBERS to the PREMIUM SERVICE can view this section of the BLOG)\r\n\r\n&nbsp;\r\n\r\n<span style=\"font-size: 14pt;\"><u>4:1. TRADING REVIEW:</u></span>\r\n\r\nJust 5 days to go until I close the book on 2017. As you may have noted, I am already into setting up for 2018. Liquidity has dropped considerably already this year and this coming week could be difficult.\r\n\r\nI have already advised you of changes for 2018 and there are still a few updates left to complete. So, whilst it may look as if there is masterly inactivity taking place in Nova Scotia, I can assure you that that is far from the reality.\r\n\r\nAs you know, I took the USD/CAD position away. My thoughts were simple, the Stochastic\'s and RSi were all against me. Poloz was against me and the CAD data has plateaued or reversed. Basically, I was fighting against the current and a tractor beam to 1.3000, or even 1.3100 looked to be in play. Whilst I could support the HEDGE the attempted HEDGE OUT trades I could not and I made the decision after the FOMC to exit the position in total on lows. Obviously, the next day out comes Poloz being a little more hawkish, given that the Fed had just raised… typical!\r\n\r\nIt was a goal from last week to exit!\r\n\r\nSo, I ended the year with a series of losing trades…argh!!\r\n\r\nNevertheless, the PREMIUM SERVICE total for 2017 will be above 12,000 pips when all said and done and to be honest when I came back from Australia and New Zealand in July, I thought to get to 10,000 could be a challenge given the way news headlines had started to direct the markets.\r\n\r\nThe Next DRIVE THRU is on January 13th. The official back to trading date will be Monday January 8th, however, I should be up and running before then. You will know via twitter what the story is.\r\n\r\n<u>\r\n</u><span style=\"font-size: 14pt;\"><u>4:2. SENTIMENT CHART,</u><u> FUNDAMENTAL &amp; MACRO THOUGHTS</u><u>:</u></span>\r\n\r\nI think we will drift in ranges from now until the middle of January next year. There is nothing to get excited about at all.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/SENTIMENT-17122017.png\"><img class=\"aligncenter size-large wp-image-10649\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/SENTIMENT-17122017-790x1024.png\" alt=\"\" width=\"790\" height=\"1024\" /></a>\r\n\r\n&nbsp;\r\n\r\n<span style=\"font-size: 14pt;\"><u>4:3. TRADING PLANS:</u></span>\r\n\r\n<span style=\"font-size: 14pt;\"><u>4:3.1. TRADING PLAN OVERVIEW THIS WEEK:</u></span>\r\n\r\nMy action plan for the week is: -\r\n<ol>\r\n 	<li>Complete next batch of PREMIUM SERVICE 2018 updates.</li>\r\n 	<li>Close off the 2017 performance and report thru blog pages and twitter.</li>\r\n 	<li>Produce a 2018 key long term trade document to be reviewed in this section of the DRIVE THRU blog each week.</li>\r\n 	<li>Prepare POWER POINT PROMOTION document and record WEBINAR for marketing campaign.</li>\r\n</ol>\r\n&nbsp;\r\n\r\n<span style=\"font-size: 14pt;\"><u>4:3.2.  EXISTING CORE TRADES (PLANS &amp; STRATEGIES):</u></span>\r\n\r\nI only retain my CORE long AUD/NZD trades through the Christmas period. I have 5 x LIVE trades.\r\n\r\n&nbsp;\r\n\r\n<span style=\"font-size: 14pt;\"><u>4:4. CURRENT LIVE TRADES &amp; LIMIT ORDERS:</u></span>\r\n\r\nCURRENT LIVE TRADES:\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/LIVE2-17122017.png\"><img class=\"aligncenter size-large wp-image-10648\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/LIVE2-17122017-1024x1021.png\" alt=\"\" width=\"1024\" height=\"1021\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\nCURRENT LIMIT ORDER TRADES: - There are none.\r\n\r\n&nbsp;\r\n\r\n<span style=\"font-size: 14pt;\"><u>4:5. FX BROKER NEWS with their MARKET FEEDBACK:</u></span>\r\n\r\nExpect a rush of bonus offers of cash, iPhones and iPAD’s. There will be a frenzy to grab new clients in readiness for the new trading year.\r\n\r\nRemember with brokers there are NO free lunches.\r\n\r\nMy two recommended brokers HANTEC MARKETS (London) and VANTAGE FX (Sydney), remain in position for 2018. I am really happy with these guys and if you want an additional account please sign up though the banner on my website to be in the PREMIUM SERVICE group.\r\n\r\n&nbsp;\r\n\r\n<strong> </strong>\r\n<ol start=\"5\">\r\n 	<li><span style=\"font-size: 16pt;\"><strong> THE PREMIUM SERVICE:</strong></span></li>\r\n</ol>\r\nThe PREMIUM SERVICE is my own subscriber based Forex support service that offers subscribers my suggested trade set-ups and market commentaries.\r\n\r\n<span style=\"font-size: 14pt;\"><u>5:1. CURRENT 2017 PREMIUM SERVICE PERFORMANCE:</u></span>\r\n\r\nYEAR TO DATE:      +12,116 net pips\r\n\r\nIn sales mode; I am now planning for 2018. I will have live trades through the Christmas and New Year holidays so I will be on twitter and probably email.\r\n\r\nIn 2018, the PREMIUM SERVICE will return with a new TRADE STYLE option for subscribers to consider and the SUBSCRIBER SECTION of the “DRIVE THRU” will be larger with greater emphasis on sentiment and market direction. Therefore, now is a great time to join the PREMIUM SERVICE get familiar and ready to go with the 2018 launch!!\r\n\r\n<strong> </strong>\r\n\r\n<span style=\"font-size: 14pt;\"><u>5:2. HOW TO SUBSCRIBE TO THE PREMIUM SERVICE:</u></span>\r\n\r\nIf you like what you’ve read in this blog and should you want to go a stage further and subscribe to the PREMIUM SERVICE, this can be done on my website <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a> under the Tab SUBSCRIBE HERE.\r\n\r\n<u>PLEASE NOTE</u>: The TAB on my home page titled PROMOTIONS contains details of the “BUY ONE GET ONE FREE” campaign that is currently in place.\r\n\r\nSubscribing to the PREMIUM SERVICE is not just about receiving a larger “DRIVE THRU” blog packed with more trading supporting information, my thoughts and ideas. There is much more to a subscription than those things. Check it all out under the tab HISTORY &amp; PERFORMANCE on my website <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a>\r\n\r\nAlternatively, if you prefer to watch a video recording about the PREMIUM SERVICE, click the link below. You will be directed to a 40-minute webinar presentation entitled “AN INTRODUCTION TO THE PREMIUM SERVICE”.\r\n\r\n<a href=\"http://screencasts.weeklyfxdrivethru.com/watch/cb6fqiIAZX\">http://screencasts.weeklyfxdrivethru.com/watch/cb6fqiIAZX</a>\r\n\r\nTo subscribe to THE PREMIUM SERVICE, you will require a valid credit card.\r\n<strong> </strong>\r\n\r\n<strong> </strong>\r\n<ol start=\"6\">\r\n 	<li><span style=\"font-size: 16pt;\"><strong> THE FINAL SHOTS:</strong></span></li>\r\n</ol>\r\n<span style=\"font-size: 14pt;\"><u>6:1. WANT A FREE PREMIUM SERVICE SUBSCRIPTION:</u></span>\r\n\r\nIf you like what you have read in this blog and would like the chance to win a FREE SUBSCRIPTION valued at CAD$150.00, all you need to do is subscribe to my FREE NEWSLETTER (this blog), by adding your email address on my welcome page just below my cube logo at <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a>\r\n\r\n<span style=\"font-size: 14pt;\"><u>6:2. CLOSING THOUGHTS:</u></span>\r\n\r\nNothing more to add here, I have said enough except\r\n\r\nAs usual…\r\n\r\nAlways remember longevity in Forex trading can only be achieved through trading with good RISK and MONEY MANAGEMENT, and above all set your position sizes in accordance with the size of your account and allow for some flexibility.\r\n\r\nFinally …\r\n\r\nThanks for your support during 2017.\r\n\r\nHappy Christmas and have a great trading year in 2018.\r\n\r\nScott Pickering\r\nThe Pip Accumulator\r\nTwitter: @ThePremService\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/disclaimer/\">http://weeklyfxdrivethru.com/disclaimer/</a>\r\n\r\nBLOG VERSION: #159 THE PREMIUM SERVICE\r\n17th December 2017', 'THE REALITY TV SHOW IN D.C. ROLLS ON', '', 'inherit', 'closed', 'closed', '', '10680-revision-v1', '', '', '2017-12-16 14:34:34', '2017-12-16 19:34:34', '', 10680, 'https://weeklyfxdrivethru.com/10680-revision-v1/', 0, 'revision', '', 0);
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(10682, 1, '2017-12-16 15:08:20', '2017-12-16 20:08:20', '<strong> </strong>\r\n<ol>\r\n 	<li><span style=\"font-size: 16pt;\"><strong>THE FIRST FEW SHOTS:</strong></span></li>\r\n</ol>\r\nWith a tear in my eye and sadness in my heart, I have to announce that this is the last DRIVE THRU blog of 2017. My arse… I can’t wait for the Christmas break; I am looking forward to Turkey, bingeing on TV and Football and having a few Jack Daniels or glasses of Shiraz or Pinot Noir without worrying about getting up early for news events in the European session.\r\n\r\nSo, we have had the FED rate hike, with Janet Yellen’s farewell press conference, the BOE and SNB staying pat and Draghi at the ECB running through a press conference ensuring that he continues to emphasize low rates, support forever or even longer than that.\r\n\r\nJanet Yellen delivered a dovish rate hike, the USD sold off, it was nothing more than a buy the rumour, sell the news event. She confirmed that interest rate hikes would continue and the “Dot” plot, which was also released at the same time looked for three more rate increases in 2018.\r\n\r\nThomas Jordan and Mark Carney, did not surprise at all. Policies at the SNB and BOE remain unchanged. Rather boring data releases.\r\n\r\nMario Draghi started off his press conference with the words “Happy Christmas”.\r\n\r\nFirstly, he could never say that in the U.S. without being frowned upon.\r\n\r\nSecondly, he looked ready for the staff Christmas Party, he was in a jolly mood, the most relaxed I have seen him for a long, long, long time. I lost count of references that were dovish, or mentioned extended periods of time and long after QE etc… There were several of them.\r\n\r\nAll the hard work had been done by the ECB in the previous 60 days. All Draghi had to do in the interim period was silence the governing council numpties that can’t keep their gobs shut so that the run in to the end of the year was smooth without awkward questions.\r\n\r\nBlasting through the data highlights from last week…\r\n\r\nOn top of the Central Bank statements, Retail Sales in the UK finally spiked over 1%. U.S. Retail Sales beat estimates, UK inflation hit 3.1%, however, UK average earnings were still lagging at 2.5%. But the prize for the best statistics last week had to go to Australian Employment Data, it beat by a landslide, 18.1K jobs expected but 61.6k recorded.\r\n\r\nHowever…\r\n\r\nWhile that all sounds great, the FX market, has recently been driven by news events.\r\n\r\nIn the U.S. it’s all about the GOP TAX BILL. That fiasco goes on, and on, and on, and on… The latest that I have read, (but being honest I am kind of bored with the whole GOP / TRUMP thing I am exhausted and apathy has set in, thank God, its Christmas!) was that LITTLE MARCO who was voting against has been bought and now he’s in favour and that voting in both houses should happen this week. However, there are still senators not 100% so we could see more twists right up to the votes being cast….\r\n\r\nEight years in opposition with two prime pieces of legislation that apparently united the GOP…. OBAMACARE &amp; TAX REFORM, and the GOP operates like a headless chicken. Sorry to keep with the poultry trend, but many Republicans have no idea what they are voting for….  For many I am certain that its tantamount to “Turkey’s voting for Christmas”.\r\n\r\nD.C. IS NO BETTER THAN A REALITY TV SHOW\r\n\r\nWith all confidence, I can safely say that one way or another TRUMP will dominate the U.S. markets this week. Initially, the Tax Bill has control of the markets moving forward. It will be this news event the makes the moves…. Then who knows what’s next to surface or reappear?\r\n\r\nIn Europe, BREXIT has the narrative. Theresa May loses a crucial house vote, flies off to Brussels hits the EU Christmas Party council meeting, sits on Santa’s knee, asks Santa for the OK to move to phase two of the BREXIT NEGOTIATIONS to be her wish for Christmas and low and behold… Phase two it is!\r\n\r\nI think that it’s fair to say this is now the meat of the BREXIT negotiations and in true politician style, its urgent, so they will start discussions in March 2018, leaving just a year to complete the divorce. It’s a tall order. The pathway forward is clear, but there will be twists and turns along the way.\r\n\r\nFrom an FX viewpoint, I am now trying to get my head around all the FUNDAMENTALS of the past 7 days or so, Central Banks, U.S. politics, BREXIT and China to have my goals clear in my head for Q1 and Q2 next year. I don\'t think that I can’t look too far beyond H1.\r\n\r\nNext year in FX should be just as challenging as this year, which leads me nicely forward…\r\n<p style=\"text-align: center;\"><span style=\"font-size: 14pt;\"><strong>“BUY ONE GET ONE FREE”</strong></span></p>\r\nWith a new year on the horizon and another target of 10,000 pips for me to beat in 2018, I am launching a PREMIUM SERVICE promotion “BUY ONE GET ONE FREE” running until January 31st 2018.\r\n\r\nAll “sign-ups” under this promotion, please note that your subscription period will NOT start until January 8<sup>th</sup> 2018, which is the formal date for next year’s trading to commence. Having said that, trading will continue albeit at a greatly reduced involvement through the holidays.\r\n\r\nThe benefit of subscribing now means that you cannot only take advantage of the trading that does take place but you can also use the interim period as an opportunity to familiarize yourself with the website and location of the content.\r\n\r\nThe details of the “BUY ONE GET ONE FREE” promotion can be found on my home page under the TAB “PROMOTIONS”\r\n\r\n<strong> </strong>\r\n<ol start=\"2\">\r\n 	<li><span style=\"font-size: 16pt;\"><strong>MY (THE PREMIUM SERVICE) TRADING LAST WEEK:</strong></span></li>\r\n</ol>\r\nLast week was light on trading for me. There was just too much chop in the market to maintain my interest 100%.  Add to this the end of the year account balancing and reduced liquidity it didn’t really get the blood circulating through my veins at the normal rate.\r\n\r\nMy thoughts are probably a little “old school”, in the sense that why trade when you believe the market is not true and does sit with your TRADE PLAN. In other words, why take on the RISK?\r\n\r\nI was more focused last week myself on exits rather than entries…\r\n\r\nAs mentioned in previous “DRIVE THRU” blogs, I was looking to manage out of my USD/CAD position. Well, I off-loaded my long-term USD/CAD short position. I decided NOT to wait until next year. My belief is that this pair will move higher before resuming lower. All the indicators were against me, I was trying to swim upstream and whilst I gave myself time and several attempts to manufacture an out trade for my HEDGED position it was just NOT working so I decided to minimize additional losses and take my pain.\r\n\r\nThe end result is that at the moment I am running a loss position on “pips” for this month, with just a week to go until I close off for 2017.\r\n\r\n<u>PERFORMANCE 2017 TO DATE:</u>\r\n\r\n2017 YEAR TO DATE:                +12,116 net pips\r\n\r\nThis is roughly where I predicted the year end 2017 total will lie, I am well above my net 10,000 pip objective.\r\n\r\n<strong> </strong>\r\n<ol start=\"3\">\r\n 	<li><span style=\"font-size: 16pt;\"><strong>THE FX MARKET PLACE THIS WEEK:</strong></span></li>\r\n</ol>\r\n<u>\r\n<span style=\"font-size: 14pt;\">3:1. THIS WEEK’S ECONOMIC DATA RELEASES:</span></u>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/ECON-DATA-17122017.png\"><img class=\"aligncenter size-large wp-image-10643\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/ECON-DATA-17122017-1024x829.png\" alt=\"\" width=\"1024\" height=\"829\" /></a>\r\n\r\n&nbsp;\r\n\r\n<span style=\"font-size: 14pt;\"><u>3:2. MY THOUGHTS ON THIS WEEK’S ECONOMIC DATA:</u></span>\r\n\r\nThis week, will be a strange one as we wind down for Christmas. There are only a couple of economic releases that will make sure that I am around for “LIVE” the rest I will pick up via Twitter.\r\n\r\nThe year-end movements and re-balancing for most institutions took place last Friday. In my opinion, liquidity could be dreadful this week. Moves could therefore be exaggerated; therefore, one should be very cautious.\r\n\r\n<strong><u>NZD:</u></strong><u> GDP</u>.\r\n\r\nWhilst this is a quarterly backwards looking number, it is a number that the markets respect.\r\n\r\nA word of caution. This data is scheduled for release Wednesday at the start of Asian Trading. At the best of times Asian Trading is thin. At this time of the year it could be brutal.\r\n\r\nGiven the political situation in New Zealand, this number should be noted as it should reflect most of the initial period of the new Labour governments tenure. If it is a poor number, I do not think that too much can be attributed to the new Labour government, although in economics as well as politics bad news does stick… at least initially.\r\n\r\nRight now, the NZD looks strong and a good number here could project it well above the .7070 (38% Fib. retracement) towards the next trend line resistance around 0.7200.\r\n\r\nI would be very surprised if we see such a projected move but stranger things have happened in a thin market trading environment.\r\n\r\n<strong><u>\r\nCAD:</u></strong><u> CPi, RETAIL SALES and GDP.</u>\r\n\r\nStephen Poloz, Governor of the BOC, is not on my 2017 Christmas card list. He shot the USD/CAD lower the day after I took losses… bugger!\r\n\r\nMedium-term, I do see the BOC having little alternative but to raise rates to keep differentials with the FED intact.\r\n\r\nAll of this data coming in line or at least beating the previous releases as a minimum is required to give Poloz support to move on rates early in 2018. The next BOC statement is scheduled on January 17th, the following one which is when I think he will raise interest rates is scheduled for March 7th, 2018.\r\n\r\nIncreasing interest rates then will beat the first possibility of another FED rise. The FOMC meet March 21st, but the smart money is on a U.S. rise at the FOMC June 13th meeting.\r\n\r\nInterest rate conjecture placed to one side, this data takes on greater importance given the latest FED policy statement.\r\n\r\n&nbsp;\r\n\r\n<strong><u>GBP:</u></strong><u> CURRENT ACCOUNT.</u>\r\n\r\nI am not an economist, nor do I consider myself any sort of expert in this area but as with most things, a little knowledge is dangerous.\r\n\r\nFadó, fadó (a long, long time ago), well it seems it now, I studied Government and Politics, Economics and Commerce in my last years of education. Bits and pieces are still stuck in the grey matter inside my skull.\r\n\r\nThis data (Current Account) is largely ignored by the press and markets. I believe with BREXIT it’s probably one of the key pieces of data that the H.M. Treasury and the BOE examine it under a microscope.\r\n\r\nThis is all about the health of an economy.\r\n\r\nIt is the balance sheet of trade and services and monetary transfers in and out of the UK.\r\n\r\nCombined with BREXIT, the fact that the UK is basically a service industry economy and the BREXIT effect on the City of London through companies exiting the UK, could have a huge effect on the CURRENT ACCOUNT as monies will be re-directed away from the UK.\r\n\r\nThis affects jobs directly in Financial services based in the UK as well direct and indirect support service jobs and business viability.\r\n\r\nThe last print was GBP -23.2biliion. There are targets and limits; it is the pace of change that is also watched. It is somewhat of a stealth number at times. It should create a response in normal trading conditions. It just depends how many traders are around on December 22nd!\r\n\r\nIt is worth following re the fundamentals, in my opinion.\r\n\r\n&nbsp;\r\n\r\n<span style=\"font-size: 14pt;\"><u>3:3. USD MAJORS – SUPPORT &amp; RESISTANCE with BIAS:</u></span>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/TCHART-17122017.png\"><img class=\"aligncenter size-large wp-image-10644\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/TCHART-17122017-1024x887.png\" alt=\"\" width=\"1024\" height=\"887\" /></a>\r\n\r\n&nbsp;\r\n\r\n<span style=\"font-size: 14pt;\"><u>3:4. USD – TRADING CHARTS: </u></span>\r\n\r\nMore often than not I will use DAILY CHARTS for my analysis. My commentary and thoughts for each trading pair are above the charts.\r\n\r\nCANDLE ANALYSIS: I have now added my thoughts based on the closing daily and weekly candles to the weeks trading.\r\n\r\n<strong>\r\n<u>EUR/USD:</u>\r\n</strong>\r\nDAILY CLOSING CANDLE:           SHOOTING STAR\r\nWEEKLY CLOSING CANDLE:      SPINNING TOP\r\n\r\nOn FOMC day, there was a very, very strong move higher as you can see on the chart below. Usually, when someone says to me what follows a big GREEN candle, like the one seen last Wednesday, 9 times out of 10 I would reply, another BIG GREEN candle.\r\n\r\nHowever, the following day was the ECB rate announcement and press conference in which, Mario Draghi was a little more dovish than expected and he forced the single currency lower.\r\n\r\nFriday was the end of the year bookkeeping adjustment day and we saw a chunk of volatility in the markets. Will we pull higher once again after the weekend into this week?\r\n\r\nThe range is quite well defined at 1.1715 to 1.1960.\r\n\r\nWe have ended the week bearish but until we break support or resistance we are in my opinion just range trading.\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/EURUSD-D-171222017.png\"><img class=\"aligncenter size-large wp-image-10656\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/EURUSD-D-171222017-1024x464.png\" alt=\"\" width=\"1024\" height=\"464\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n<strong><u>GBP/USD:</u></strong>\r\n\r\nDAILY CLOSING CANDLE: CLOSING CHART PATTERN = EVENING STAR\r\nWEEKLY CLOSING CANDLE: SHOOTING STAR\r\n\r\nIt’s all rather bearish if these candles play out for the start of the week.\r\n\r\nFrom my perspective, the flag pattern shown on the chart is still in play unless we break below 1.3290, at which point it is invalidated and all bets are off on the bullish side.\r\n\r\nShould 1.3300 hold, the measured move with the flag is 1.3740.\r\n\r\nWe just have to bear in mind any BREXIT news vis-a-via the cable.\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/GBPUSD-D-17122017.png\"><img class=\"aligncenter size-large wp-image-10657\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/GBPUSD-D-17122017-1024x464.png\" alt=\"\" width=\"1024\" height=\"464\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n<strong><u>AUD/USD:</u></strong>\r\n\r\nDAILY CLOSING CANDLE:           SHOOTING STAR\r\nWEEKLY CLOSING CANDLE:      BULLISH\r\n\r\nWe are in a triangle pattern and this pair bounced nicely off a December 2016 trend line.\r\n\r\nWe do not have alignment with candles and this matches a non-alignment with sentiment.\r\n\r\nWe have to see above 0.7740 or below 0.7490 to get a momentum move confirmed in my opinion.\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/AUDUSD-D-17122017.png\"><img class=\"aligncenter size-large wp-image-10655\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/AUDUSD-D-17122017-1024x464.png\" alt=\"\" width=\"1024\" height=\"464\" /></a>\r\n\r\n&nbsp;\r\n\r\n<strong><u>NZD/USD:</u></strong>\r\n\r\nDAILY CLOSING CANDLE:           BEARISH\r\nWEEKLY CLOSING CANDLE:      BULLISH<strong><u>\r\n</u></strong>\r\nSentiment has shifted bullish, but the candles are lagging a little. The daily close represents the USD strength into the end of the year bookkeeping adjustments.\r\n\r\nEarly this week, I expect this pair to move higher back with trend and sentiment.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/NZDUSD-D-17122017.png\"><img class=\"aligncenter size-large wp-image-10658\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/NZDUSD-D-17122017-1024x464.png\" alt=\"\" width=\"1024\" height=\"464\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n<strong><u>USD/CAD:</u></strong><strong>\r\n\r\n</strong>\r\n\r\nDAILY CLOSING CANDLE:           BULLISH\r\nWEEKLY CLOSING CANDLE:      HAMMER\r\n\r\nThis pair looks like it is going to move higher and the levels of 1.3000 and 1.3100 appear to be sucking this pair in like a tractor beam from Star Trek.\r\n\r\nWe have a bullish wedge at 1.2915.\r\n\r\nIf this breaks I will have to get long even though I am a little reluctant given the time of the year. In my experience moves out of wedge tend to be very powerful and decisive.\r\n\r\nOn the basis that I booked a loss on this pair to the short side last week the upside potential break would vindicate my decision to cut and run.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/USDCAD-D-17122017.png\"><img class=\"aligncenter size-large wp-image-10659\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/USDCAD-D-17122017-1024x464.png\" alt=\"\" width=\"1024\" height=\"464\" /></a>\r\n\r\n&nbsp;\r\n\r\n<strong><u>USD/CHF:</u></strong>\r\n\r\nDAILY CLOSING CANDLE:           INDECISIVE\r\nWEEKLY CLOSING CANDLE:      HANGING MAN (BULLISH)<strong>\r\n</strong>\r\nAlbeit that last Friday’s candle is neither one thing nor the other, I still feel this pair has a potential upside break ahead of it.\r\n\r\nThe keys levels are 0.9860 and 0.9940.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/USDCHF-D-17122017.png\"><img class=\"aligncenter size-large wp-image-10660\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/USDCHF-D-17122017-1024x464.png\" alt=\"\" width=\"1024\" height=\"464\" /></a>\r\n\r\n&nbsp;\r\n\r\n<strong><u>USD/JPY:</u></strong>\r\n\r\nDAILY CLOSING CANDLE:           BULLISH ENGULFING\r\nWEEKLY CLOSING CANDLE:      BEARISH ENGULFING<u>\r\n</u>\r\nBoth candles are powerful looking candles. The issue is that they are contrary to each other.\r\n\r\nMy thought process here is that the WEEKLY candle should outweigh the DAILY candle. Given the day that last Friday was, that is, closing the books for most institutions on 2017, I would be inclined to believe that this would add weight to my thought process.\r\n\r\nHowever, a word of caution.\r\n\r\nDon’t count on anything as we are entering the silly season vis-à-vis liquidity and I would not believe anything until I see a good couple of sessions pass by to try to establish some confirmation. I know that that sounds a little unrealistic but it is the time of the year that drives my thought process this way.\r\n\r\nWatching levels at 112.00 and 113.20 may give a better visual for directional confirmation.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/USDJPY-D-17122017.png\"><img class=\"aligncenter size-large wp-image-10661\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/USDJPY-D-17122017-1024x464.png\" alt=\"\" width=\"1024\" height=\"464\" /></a>\r\n\r\n&nbsp;\r\n\r\n<span style=\"font-size: 14pt;\"><u>3:5. MY THOUGHTS ON HOW TO PLAY FX THIS WEEK:</u></span>\r\n\r\nIf you are going to trade this week, keep it very small and DO NOT get too involved.\r\n\r\nLiquidity will get worse as the week progresses with most of the institutions, especially in the U.S. well into Christmas Party mode with senior management probably issued directives on what constitutes sexual harassment to be handed down in memo form or discussed in group meetings. There will be headlines early next year… guaranteed. I would say those executives who consider themselves on a “fast track” will avoid the parties. It just takes an accusation and it’s all over.\r\n\r\nGetting back on point…\r\n\r\nThere are market movers in the economic data releases but I think more disturbingly the market will be driven by the GOP and TRUMP.\r\n\r\nI am NOT a believer that the Asian market is good for FX. Liquidity is just getting lower and lower, year by year and the vast majority of times, Asian moves are reversed in Europe. If liquidity is usually poor. Just imagine it this week.\r\n\r\nThe UK liquidity will be better but also poor.\r\n\r\nTherefore, here’s a tip. If you need to trade, trade only the following times when liquidity will be at its highest: 8.00AM EST to NOON EST.\r\n\r\nBe extremely careful with cross rates as they will be the first to suffer from the lower liquidity and exaggerated moves.\r\n\r\n&nbsp;\r\n<ol start=\"4\">\r\n 	<li><span style=\"font-size: 16pt;\"><strong> PREMIUM SERVICE SUBSCRIBERS ONLY:</strong></span></li>\r\n</ol>\r\n(Only SUBSCRIBERS to the PREMIUM SERVICE can view this section of the BLOG)\r\n\r\n<span style=\"font-size: 14pt;\"><u>4:1. TRADING REVIEW:</u></span>\r\n<span style=\"font-size: 14pt;\"> <u>\r\n</u><u>4:2. SENTIMENT CHART,</u><u> FUNDAMENTAL &amp; MACRO THOUGHTS</u><u>:\r\n</u></span>\r\n\r\n<span style=\"font-size: 14pt;\"><u>4:3. TRADING PLANS:</u></span>\r\n\r\n<span style=\"font-size: 14pt;\"><u>4:3.1. TRADING PLAN OVERVIEW THIS WEEK:</u></span>\r\n\r\n<span style=\"font-size: 14pt;\"><u>4:3.2.  EXISTING CORE TRADES (PLANS &amp; STRATEGIES):</u></span>\r\n\r\n<span style=\"font-size: 14pt;\"><u>4:4. CURRENT LIVE TRADES &amp; LIMIT ORDERS:</u></span>\r\n\r\n<span style=\"font-size: 14pt;\"><u>4:5. FX BROKER NEWS with their MARKET FEEDBACK:</u></span>\r\n\r\n&nbsp;\r\n\r\n<strong> </strong>\r\n<ol start=\"5\">\r\n 	<li><span style=\"font-size: 16pt;\"><strong> THE PREMIUM SERVICE:</strong></span></li>\r\n</ol>\r\nThe PREMIUM SERVICE is my own subscriber based Forex support service that offers subscribers my suggested trade set-ups and market commentaries.\r\n\r\n<span style=\"font-size: 14pt;\"><u>5:1. CURRENT 2017 PREMIUM SERVICE PERFORMANCE:</u></span>\r\n\r\nYEAR TO DATE:      +12,116 net pips\r\n\r\nIn sales mode; I am now planning for 2018. I will have live trades through the Christmas and New Year holidays so I will be on twitter and probably email.\r\n\r\nIn 2018, the PREMIUM SERVICE will return with a new TRADE STYLE option for subscribers to consider and the SUBSCRIBER SECTION of the “DRIVE THRU” will be larger with greater emphasis on sentiment and market direction. Therefore, now is a great time to join the PREMIUM SERVICE get familiar and ready to go with the 2018 launch!!\r\n\r\n&nbsp;\r\n\r\n<span style=\"font-size: 14pt;\"><u>5:2. HOW TO SUBSCRIBE TO THE PREMIUM SERVICE:</u></span>\r\n\r\nIf you like what you’ve read in this blog and should you want to go a stage further and subscribe to the PREMIUM SERVICE, this can be done on my website <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a> under the Tab SUBSCRIBE HERE.\r\n\r\n<u>PLEASE NOTE</u>: The TAB on my home page titled PROMOTIONS contains details of the “BUY ONE GET ONE FREE” campaign that is currently in place.\r\n\r\nSubscribing to the PREMIUM SERVICE is not just about receiving a larger “DRIVE THRU” blog packed with more trading supporting information, my thoughts and ideas. There is much more to a subscription than those things. Check it all out under the tab HISTORY &amp; PERFORMANCE on my website <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a>\r\n\r\nAlternatively, if you prefer to watch a video recording about the PREMIUM SERVICE, click the link below. You will be directed to a 40-minute webinar presentation entitled “AN INTRODUCTION TO THE PREMIUM SERVICE”.\r\n\r\n<a href=\"http://screencasts.weeklyfxdrivethru.com/watch/cb6fqiIAZX\">http://screencasts.weeklyfxdrivethru.com/watch/cb6fqiIAZX</a>\r\n\r\nTo subscribe to THE PREMIUM SERVICE, you will require a valid credit card.\r\n<strong> </strong><strong> </strong>\r\n<ol start=\"6\">\r\n 	<li><span style=\"font-size: 16pt;\"><strong> THE FINAL SHOTS:</strong></span></li>\r\n</ol>\r\n<span style=\"font-size: 14pt;\"><u>6:1. WANT A FREE PREMIUM SERVICE SUBSCRIPTION:</u></span>\r\n\r\nIf you like what you have read in this blog and would like the chance to win a FREE SUBSCRIPTION valued at CAD$150.00, all you need to do is subscribe to my FREE NEWSLETTER (this blog), by adding your email address on my welcome page just below my cube logo at <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a>\r\n\r\n&nbsp;\r\n\r\n<span style=\"font-size: 14pt;\"><u>6:2. CLOSING THOUGHTS:</u></span>\r\n\r\nNothing more to add here, I have said enough except,\r\n\r\nAs usual…\r\n\r\nAlways remember longevity in Forex trading can only be achieved through trading with good RISK and MONEY MANAGEMENT, and above all set your position sizes in accordance with the size of your account and allow for some flexibility.\r\n\r\nFinally …\r\n\r\nThe DRIVE THRU blog returns January 13th 2018, in the interim have a\r\n\r\nHappy Christmas and I hopr that you have a great trading year in 2018.\r\n\r\nScott Pickering\r\nThe Pip Accumulator\r\nTwitter: @pipaccumulator\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/disclaimer/\">http://weeklyfxdrivethru.com/disclaimer/</a>\r\n\r\nBLOG VERSION: #263 FREE NEWSLETTER\r\n17th December 2017\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n&nbsp;', 'THE REALITY TV SHOW IN D.C. 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(10683, 1, '2017-12-16 15:08:21', '2017-12-16 20:08:21', '<strong> </strong>\r\n<ol>\r\n 	<li><span style=\"font-size: 16pt;\"><strong>THE FIRST FEW SHOTS:</strong></span></li>\r\n</ol>\r\nWith a tear in my eye and sadness in my heart, I have to announce that this is the last DRIVE THRU blog of 2017. My arse… I can’t wait for the Christmas break; I am looking forward to Turkey, bingeing on TV and Football and having a few Jack Daniels or glasses of Shiraz or Pinot Noir without worrying about getting up early for news events in the European session.\r\n\r\nSo, we have had the FED rate hike, with Janet Yellen’s farewell press conference, the BOE and SNB staying pat and Draghi at the ECB running through a press conference ensuring that he continues to emphasize low rates, support forever or even longer than that.\r\n\r\nJanet Yellen delivered a dovish rate hike, the USD sold off, it was nothing more than a buy the rumour, sell the news event. She confirmed that interest rate hikes would continue and the “Dot” plot, which was also released at the same time looked for three more rate increases in 2018.\r\n\r\nThomas Jordan and Mark Carney, did not surprise at all. Policies at the SNB and BOE remain unchanged. Rather boring data releases.\r\n\r\nMario Draghi started off his press conference with the words “Happy Christmas”.\r\n\r\nFirstly, he could never say that in the U.S. without being frowned upon.\r\n\r\nSecondly, he looked ready for the staff Christmas Party, he was in a jolly mood, the most relaxed I have seen him for a long, long, long time. I lost count of references that were dovish, or mentioned extended periods of time and long after QE etc… There were several of them.\r\n\r\nAll the hard work had been done by the ECB in the previous 60 days. All Draghi had to do in the interim period was silence the governing council numpties that can’t keep their gobs shut so that the run in to the end of the year was smooth without awkward questions.\r\n\r\nBlasting through the data highlights from last week…\r\n\r\nOn top of the Central Bank statements, Retail Sales in the UK finally spiked over 1%. U.S. Retail Sales beat estimates, UK inflation hit 3.1%, however, UK average earnings were still lagging at 2.5%. But the prize for the best statistics last week had to go to Australian Employment Data, it beat by a landslide, 18.1K jobs expected but 61.6k recorded.\r\n\r\nHowever…\r\n\r\nWhile that all sounds great, the FX market, has recently been driven by news events.\r\n\r\nIn the U.S. it’s all about the GOP TAX BILL. That fiasco goes on, and on, and on, and on… The latest that I have read, (but being honest I am kind of bored with the whole GOP / TRUMP thing I am exhausted and apathy has set in, thank God, its Christmas!) was that LITTLE MARCO who was voting against has been bought and now he’s in favour and that voting in both houses should happen this week. However, there are still senators not 100% so we could see more twists right up to the votes being cast….\r\n\r\nEight years in opposition with two prime pieces of legislation that apparently united the GOP…. OBAMACARE &amp; TAX REFORM, and the GOP operates like a headless chicken. Sorry to keep with the poultry trend, but many Republicans have no idea what they are voting for….  For many I am certain that its tantamount to “Turkey’s voting for Christmas”.\r\n\r\nD.C. IS NO BETTER THAN A REALITY TV SHOW\r\n\r\nWith all confidence, I can safely say that one way or another TRUMP will dominate the U.S. markets this week. Initially, the Tax Bill has control of the markets moving forward. It will be this news event the makes the moves…. Then who knows what’s next to surface or reappear?\r\n\r\nIn Europe, BREXIT has the narrative. Theresa May loses a crucial house vote, flies off to Brussels hits the EU Christmas Party council meeting, sits on Santa’s knee, asks Santa for the OK to move to phase two of the BREXIT NEGOTIATIONS to be her wish for Christmas and low and behold… Phase two it is!\r\n\r\nI think that it’s fair to say this is now the meat of the BREXIT negotiations and in true politician style, its urgent, so they will start discussions in March 2018, leaving just a year to complete the divorce. It’s a tall order. The pathway forward is clear, but there will be twists and turns along the way.\r\n\r\nFrom an FX viewpoint, I am now trying to get my head around all the FUNDAMENTALS of the past 7 days or so, Central Banks, U.S. politics, BREXIT and China to have my goals clear in my head for Q1 and Q2 next year. I don\'t think that I can’t look too far beyond H1.\r\n\r\nNext year in FX should be just as challenging as this year, which leads me nicely forward…\r\n<p style=\"text-align: center;\"><span style=\"font-size: 14pt;\"><strong>“BUY ONE GET ONE FREE”</strong></span></p>\r\nWith a new year on the horizon and another target of 10,000 pips for me to beat in 2018, I am launching a PREMIUM SERVICE promotion “BUY ONE GET ONE FREE” running until January 31st 2018.\r\n\r\nAll “sign-ups” under this promotion, please note that your subscription period will NOT start until January 8<sup>th</sup> 2018, which is the formal date for next year’s trading to commence. Having said that, trading will continue albeit at a greatly reduced involvement through the holidays.\r\n\r\nThe benefit of subscribing now means that you cannot only take advantage of the trading that does take place but you can also use the interim period as an opportunity to familiarize yourself with the website and location of the content.\r\n\r\nThe details of the “BUY ONE GET ONE FREE” promotion can be found on my home page under the TAB “PROMOTIONS”\r\n\r\n<strong> </strong>\r\n<ol start=\"2\">\r\n 	<li><span style=\"font-size: 16pt;\"><strong>MY (THE PREMIUM SERVICE) TRADING LAST WEEK:</strong></span></li>\r\n</ol>\r\nLast week was light on trading for me. There was just too much chop in the market to maintain my interest 100%.  Add to this the end of the year account balancing and reduced liquidity it didn’t really get the blood circulating through my veins at the normal rate.\r\n\r\nMy thoughts are probably a little “old school”, in the sense that why trade when you believe the market is not true and does sit with your TRADE PLAN. In other words, why take on the RISK?\r\n\r\nI was more focused last week myself on exits rather than entries…\r\n\r\nAs mentioned in previous “DRIVE THRU” blogs, I was looking to manage out of my USD/CAD position. Well, I off-loaded my long-term USD/CAD short position. I decided NOT to wait until next year. My belief is that this pair will move higher before resuming lower. All the indicators were against me, I was trying to swim upstream and whilst I gave myself time and several attempts to manufacture an out trade for my HEDGED position it was just NOT working so I decided to minimize additional losses and take my pain.\r\n\r\nThe end result is that at the moment I am running a loss position on “pips” for this month, with just a week to go until I close off for 2017.\r\n\r\n<u>PERFORMANCE 2017 TO DATE:</u>\r\n\r\n2017 YEAR TO DATE:                +12,116 net pips\r\n\r\nThis is roughly where I predicted the year end 2017 total will lie, I am well above my net 10,000 pip objective.\r\n\r\n<strong> </strong>\r\n<ol start=\"3\">\r\n 	<li><span style=\"font-size: 16pt;\"><strong>THE FX MARKET PLACE THIS WEEK:</strong></span></li>\r\n</ol>\r\n<u>\r\n<span style=\"font-size: 14pt;\">3:1. THIS WEEK’S ECONOMIC DATA RELEASES:</span></u>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/ECON-DATA-17122017.png\"><img class=\"aligncenter size-large wp-image-10643\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/ECON-DATA-17122017-1024x829.png\" alt=\"\" width=\"1024\" height=\"829\" /></a>\r\n\r\n&nbsp;\r\n\r\n<span style=\"font-size: 14pt;\"><u>3:2. MY THOUGHTS ON THIS WEEK’S ECONOMIC DATA:</u></span>\r\n\r\nThis week, will be a strange one as we wind down for Christmas. There are only a couple of economic releases that will make sure that I am around for “LIVE” the rest I will pick up via Twitter.\r\n\r\nThe year-end movements and re-balancing for most institutions took place last Friday. In my opinion, liquidity could be dreadful this week. Moves could therefore be exaggerated; therefore, one should be very cautious.\r\n\r\n<strong><u>NZD:</u></strong><u> GDP</u>.\r\n\r\nWhilst this is a quarterly backwards looking number, it is a number that the markets respect.\r\n\r\nA word of caution. This data is scheduled for release Wednesday at the start of Asian Trading. At the best of times Asian Trading is thin. At this time of the year it could be brutal.\r\n\r\nGiven the political situation in New Zealand, this number should be noted as it should reflect most of the initial period of the new Labour governments tenure. If it is a poor number, I do not think that too much can be attributed to the new Labour government, although in economics as well as politics bad news does stick… at least initially.\r\n\r\nRight now, the NZD looks strong and a good number here could project it well above the .7070 (38% Fib. retracement) towards the next trend line resistance around 0.7200.\r\n\r\nI would be very surprised if we see such a projected move but stranger things have happened in a thin market trading environment.\r\n\r\n<strong><u>\r\nCAD:</u></strong><u> CPi, RETAIL SALES and GDP.</u>\r\n\r\nStephen Poloz, Governor of the BOC, is not on my 2017 Christmas card list. He shot the USD/CAD lower the day after I took losses… bugger!\r\n\r\nMedium-term, I do see the BOC having little alternative but to raise rates to keep differentials with the FED intact.\r\n\r\nAll of this data coming in line or at least beating the previous releases as a minimum is required to give Poloz support to move on rates early in 2018. The next BOC statement is scheduled on January 17th, the following one which is when I think he will raise interest rates is scheduled for March 7th, 2018.\r\n\r\nIncreasing interest rates then will beat the first possibility of another FED rise. The FOMC meet March 21st, but the smart money is on a U.S. rise at the FOMC June 13th meeting.\r\n\r\nInterest rate conjecture placed to one side, this data takes on greater importance given the latest FED policy statement.\r\n\r\n&nbsp;\r\n\r\n<strong><u>GBP:</u></strong><u> CURRENT ACCOUNT.</u>\r\n\r\nI am not an economist, nor do I consider myself any sort of expert in this area but as with most things, a little knowledge is dangerous.\r\n\r\nFadó, fadó (a long, long time ago), well it seems it now, I studied Government and Politics, Economics and Commerce in my last years of education. Bits and pieces are still stuck in the grey matter inside my skull.\r\n\r\nThis data (Current Account) is largely ignored by the press and markets. I believe with BREXIT it’s probably one of the key pieces of data that the H.M. Treasury and the BOE examine it under a microscope.\r\n\r\nThis is all about the health of an economy.\r\n\r\nIt is the balance sheet of trade and services and monetary transfers in and out of the UK.\r\n\r\nCombined with BREXIT, the fact that the UK is basically a service industry economy and the BREXIT effect on the City of London through companies exiting the UK, could have a huge effect on the CURRENT ACCOUNT as monies will be re-directed away from the UK.\r\n\r\nThis affects jobs directly in Financial services based in the UK as well direct and indirect support service jobs and business viability.\r\n\r\nThe last print was GBP -23.2biliion. There are targets and limits; it is the pace of change that is also watched. It is somewhat of a stealth number at times. It should create a response in normal trading conditions. It just depends how many traders are around on December 22nd!\r\n\r\nIt is worth following re the fundamentals, in my opinion.\r\n\r\n&nbsp;\r\n\r\n<span style=\"font-size: 14pt;\"><u>3:3. USD MAJORS – SUPPORT &amp; RESISTANCE with BIAS:</u></span>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/TCHART-17122017.png\"><img class=\"aligncenter size-large wp-image-10644\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/TCHART-17122017-1024x887.png\" alt=\"\" width=\"1024\" height=\"887\" /></a>\r\n\r\n&nbsp;\r\n\r\n<span style=\"font-size: 14pt;\"><u>3:4. USD – TRADING CHARTS: </u></span>\r\n\r\nMore often than not I will use DAILY CHARTS for my analysis. My commentary and thoughts for each trading pair are above the charts.\r\n\r\nCANDLE ANALYSIS: I have now added my thoughts based on the closing daily and weekly candles to the weeks trading.\r\n\r\n<strong>\r\n<u>EUR/USD:</u>\r\n</strong>\r\nDAILY CLOSING CANDLE:           SHOOTING STAR\r\nWEEKLY CLOSING CANDLE:      SPINNING TOP\r\n\r\nOn FOMC day, there was a very, very strong move higher as you can see on the chart below. Usually, when someone says to me what follows a big GREEN candle, like the one seen last Wednesday, 9 times out of 10 I would reply, another BIG GREEN candle.\r\n\r\nHowever, the following day was the ECB rate announcement and press conference in which, Mario Draghi was a little more dovish than expected and he forced the single currency lower.\r\n\r\nFriday was the end of the year bookkeeping adjustment day and we saw a chunk of volatility in the markets. Will we pull higher once again after the weekend into this week?\r\n\r\nThe range is quite well defined at 1.1715 to 1.1960.\r\n\r\nWe have ended the week bearish but until we break support or resistance we are in my opinion just range trading.\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/EURUSD-D-171222017.png\"><img class=\"aligncenter size-large wp-image-10656\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/EURUSD-D-171222017-1024x464.png\" alt=\"\" width=\"1024\" height=\"464\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n<strong><u>GBP/USD:</u></strong>\r\n\r\nDAILY CLOSING CANDLE: CLOSING CHART PATTERN = EVENING STAR\r\nWEEKLY CLOSING CANDLE: SHOOTING STAR\r\n\r\nIt’s all rather bearish if these candles play out for the start of the week.\r\n\r\nFrom my perspective, the flag pattern shown on the chart is still in play unless we break below 1.3290, at which point it is invalidated and all bets are off on the bullish side.\r\n\r\nShould 1.3300 hold, the measured move with the flag is 1.3740.\r\n\r\nWe just have to bear in mind any BREXIT news vis-a-via the cable.\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/GBPUSD-D-17122017.png\"><img class=\"aligncenter size-large wp-image-10657\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/GBPUSD-D-17122017-1024x464.png\" alt=\"\" width=\"1024\" height=\"464\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n<strong><u>AUD/USD:</u></strong>\r\n\r\nDAILY CLOSING CANDLE:           SHOOTING STAR\r\nWEEKLY CLOSING CANDLE:      BULLISH\r\n\r\nWe are in a triangle pattern and this pair bounced nicely off a December 2016 trend line.\r\n\r\nWe do not have alignment with candles and this matches a non-alignment with sentiment.\r\n\r\nWe have to see above 0.7740 or below 0.7490 to get a momentum move confirmed in my opinion.\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/AUDUSD-D-17122017.png\"><img class=\"aligncenter size-large wp-image-10655\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/AUDUSD-D-17122017-1024x464.png\" alt=\"\" width=\"1024\" height=\"464\" /></a>\r\n\r\n&nbsp;\r\n\r\n<strong><u>NZD/USD:</u></strong>\r\n\r\nDAILY CLOSING CANDLE:           BEARISH\r\nWEEKLY CLOSING CANDLE:      BULLISH<strong><u>\r\n</u></strong>\r\nSentiment has shifted bullish, but the candles are lagging a little. The daily close represents the USD strength into the end of the year bookkeeping adjustments.\r\n\r\nEarly this week, I expect this pair to move higher back with trend and sentiment.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/NZDUSD-D-17122017.png\"><img class=\"aligncenter size-large wp-image-10658\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/NZDUSD-D-17122017-1024x464.png\" alt=\"\" width=\"1024\" height=\"464\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n<strong><u>USD/CAD:</u></strong><strong>\r\n\r\n</strong>\r\n\r\nDAILY CLOSING CANDLE:           BULLISH\r\nWEEKLY CLOSING CANDLE:      HAMMER\r\n\r\nThis pair looks like it is going to move higher and the levels of 1.3000 and 1.3100 appear to be sucking this pair in like a tractor beam from Star Trek.\r\n\r\nWe have a bullish wedge at 1.2915.\r\n\r\nIf this breaks I will have to get long even though I am a little reluctant given the time of the year. In my experience moves out of wedge tend to be very powerful and decisive.\r\n\r\nOn the basis that I booked a loss on this pair to the short side last week the upside potential break would vindicate my decision to cut and run.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/USDCAD-D-17122017.png\"><img class=\"aligncenter size-large wp-image-10659\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/USDCAD-D-17122017-1024x464.png\" alt=\"\" width=\"1024\" height=\"464\" /></a>\r\n\r\n&nbsp;\r\n\r\n<strong><u>USD/CHF:</u></strong>\r\n\r\nDAILY CLOSING CANDLE:           INDECISIVE\r\nWEEKLY CLOSING CANDLE:      HANGING MAN (BULLISH)<strong>\r\n</strong>\r\nAlbeit that last Friday’s candle is neither one thing nor the other, I still feel this pair has a potential upside break ahead of it.\r\n\r\nThe keys levels are 0.9860 and 0.9940.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/USDCHF-D-17122017.png\"><img class=\"aligncenter size-large wp-image-10660\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/USDCHF-D-17122017-1024x464.png\" alt=\"\" width=\"1024\" height=\"464\" /></a>\r\n\r\n&nbsp;\r\n\r\n<strong><u>USD/JPY:</u></strong>\r\n\r\nDAILY CLOSING CANDLE:           BULLISH ENGULFING\r\nWEEKLY CLOSING CANDLE:      BEARISH ENGULFING<u>\r\n</u>\r\nBoth candles are powerful looking candles. The issue is that they are contrary to each other.\r\n\r\nMy thought process here is that the WEEKLY candle should outweigh the DAILY candle. Given the day that last Friday was, that is, closing the books for most institutions on 2017, I would be inclined to believe that this would add weight to my thought process.\r\n\r\nHowever, a word of caution.\r\n\r\nDon’t count on anything as we are entering the silly season vis-à-vis liquidity and I would not believe anything until I see a good couple of sessions pass by to try to establish some confirmation. I know that that sounds a little unrealistic but it is the time of the year that drives my thought process this way.\r\n\r\nWatching levels at 112.00 and 113.20 may give a better visual for directional confirmation.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/USDJPY-D-17122017.png\"><img class=\"aligncenter size-large wp-image-10661\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/USDJPY-D-17122017-1024x464.png\" alt=\"\" width=\"1024\" height=\"464\" /></a>\r\n\r\n&nbsp;\r\n\r\n<span style=\"font-size: 14pt;\"><u>3:5. MY THOUGHTS ON HOW TO PLAY FX THIS WEEK:</u></span>\r\n\r\nIf you are going to trade this week, keep it very small and DO NOT get too involved.\r\n\r\nLiquidity will get worse as the week progresses with most of the institutions, especially in the U.S. well into Christmas Party mode with senior management probably issued directives on what constitutes sexual harassment to be handed down in memo form or discussed in group meetings. There will be headlines early next year… guaranteed. I would say those executives who consider themselves on a “fast track” will avoid the parties. It just takes an accusation and it’s all over.\r\n\r\nGetting back on point…\r\n\r\nThere are market movers in the economic data releases but I think more disturbingly the market will be driven by the GOP and TRUMP.\r\n\r\nI am NOT a believer that the Asian market is good for FX. Liquidity is just getting lower and lower, year by year and the vast majority of times, Asian moves are reversed in Europe. If liquidity is usually poor. Just imagine it this week.\r\n\r\nThe UK liquidity will be better but also poor.\r\n\r\nTherefore, here’s a tip. If you need to trade, trade only the following times when liquidity will be at its highest: 8.00AM EST to NOON EST.\r\n\r\nBe extremely careful with cross rates as they will be the first to suffer from the lower liquidity and exaggerated moves.\r\n\r\n&nbsp;\r\n<ol start=\"4\">\r\n 	<li><span style=\"font-size: 16pt;\"><strong> PREMIUM SERVICE SUBSCRIBERS ONLY:</strong></span></li>\r\n</ol>\r\n(Only SUBSCRIBERS to the PREMIUM SERVICE can view this section of the BLOG)\r\n\r\n<span style=\"font-size: 14pt;\"><u>4:1. TRADING REVIEW:</u></span>\r\n<span style=\"font-size: 14pt;\"> <u>\r\n</u><u>4:2. SENTIMENT CHART,</u><u> FUNDAMENTAL &amp; MACRO THOUGHTS</u><u>:\r\n</u></span>\r\n\r\n<span style=\"font-size: 14pt;\"><u>4:3. TRADING PLANS:</u></span>\r\n\r\n<span style=\"font-size: 14pt;\"><u>4:3.1. TRADING PLAN OVERVIEW THIS WEEK:</u></span>\r\n\r\n<span style=\"font-size: 14pt;\"><u>4:3.2.  EXISTING CORE TRADES (PLANS &amp; STRATEGIES):</u></span>\r\n\r\n<span style=\"font-size: 14pt;\"><u>4:4. CURRENT LIVE TRADES &amp; LIMIT ORDERS:</u></span>\r\n\r\n<span style=\"font-size: 14pt;\"><u>4:5. FX BROKER NEWS with their MARKET FEEDBACK:</u></span>\r\n\r\n&nbsp;\r\n\r\n<strong> </strong>\r\n<ol start=\"5\">\r\n 	<li><span style=\"font-size: 16pt;\"><strong> THE PREMIUM SERVICE:</strong></span></li>\r\n</ol>\r\nThe PREMIUM SERVICE is my own subscriber based Forex support service that offers subscribers my suggested trade set-ups and market commentaries.\r\n\r\n<span style=\"font-size: 14pt;\"><u>5:1. CURRENT 2017 PREMIUM SERVICE PERFORMANCE:</u></span>\r\n\r\nYEAR TO DATE:      +12,116 net pips\r\n\r\nIn sales mode; I am now planning for 2018. I will have live trades through the Christmas and New Year holidays so I will be on twitter and probably email.\r\n\r\nIn 2018, the PREMIUM SERVICE will return with a new TRADE STYLE option for subscribers to consider and the SUBSCRIBER SECTION of the “DRIVE THRU” will be larger with greater emphasis on sentiment and market direction. Therefore, now is a great time to join the PREMIUM SERVICE get familiar and ready to go with the 2018 launch!!\r\n\r\n&nbsp;\r\n\r\n<span style=\"font-size: 14pt;\"><u>5:2. HOW TO SUBSCRIBE TO THE PREMIUM SERVICE:</u></span>\r\n\r\nIf you like what you’ve read in this blog and should you want to go a stage further and subscribe to the PREMIUM SERVICE, this can be done on my website <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a> under the Tab SUBSCRIBE HERE.\r\n\r\n<u>PLEASE NOTE</u>: The TAB on my home page titled PROMOTIONS contains details of the “BUY ONE GET ONE FREE” campaign that is currently in place.\r\n\r\nSubscribing to the PREMIUM SERVICE is not just about receiving a larger “DRIVE THRU” blog packed with more trading supporting information, my thoughts and ideas. There is much more to a subscription than those things. Check it all out under the tab HISTORY &amp; PERFORMANCE on my website <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a>\r\n\r\nAlternatively, if you prefer to watch a video recording about the PREMIUM SERVICE, click the link below. You will be directed to a 40-minute webinar presentation entitled “AN INTRODUCTION TO THE PREMIUM SERVICE”.\r\n\r\n<a href=\"http://screencasts.weeklyfxdrivethru.com/watch/cb6fqiIAZX\">http://screencasts.weeklyfxdrivethru.com/watch/cb6fqiIAZX</a>\r\n\r\nTo subscribe to THE PREMIUM SERVICE, you will require a valid credit card.\r\n<strong> </strong><strong> </strong>\r\n<ol start=\"6\">\r\n 	<li><span style=\"font-size: 16pt;\"><strong> THE FINAL SHOTS:</strong></span></li>\r\n</ol>\r\n<span style=\"font-size: 14pt;\"><u>6:1. WANT A FREE PREMIUM SERVICE SUBSCRIPTION:</u></span>\r\n\r\nIf you like what you have read in this blog and would like the chance to win a FREE SUBSCRIPTION valued at CAD$150.00, all you need to do is subscribe to my FREE NEWSLETTER (this blog), by adding your email address on my welcome page just below my cube logo at <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a>\r\n\r\n&nbsp;\r\n\r\n<span style=\"font-size: 14pt;\"><u>6:2. CLOSING THOUGHTS:</u></span>\r\n\r\nNothing more to add here, I have said enough except,\r\n\r\nAs usual…\r\n\r\nAlways remember longevity in Forex trading can only be achieved through trading with good RISK and MONEY MANAGEMENT, and above all set your position sizes in accordance with the size of your account and allow for some flexibility.\r\n\r\nFinally …\r\n\r\nThe DRIVE THRU blog returns January 13th 2018, in the interim have a\r\n\r\nHappy Christmas and I hopr that you have a great trading year in 2018.\r\n\r\nScott Pickering\r\nThe Pip Accumulator\r\nTwitter: @pipaccumulator\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/disclaimer/\">http://weeklyfxdrivethru.com/disclaimer/</a>\r\n\r\nBLOG VERSION: #263 FREE NEWSLETTER\r\n17th December 2017\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n&nbsp;', 'THE REALITY TV SHOW IN D.C. 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(10686, 1, '2018-04-30 10:58:23', '2018-04-30 15:58:23', '<div></div>\n<div>\n<p style=\"text-align: left;\"><strong><span style=\"font-size: 14pt;\">1</span>. <span style=\"font-size: 14pt;\">WHAT IS WEEKLY FX PREMIUM?</span></strong></p>\nInitially launched in 2014 as The PREMIUM SERVICE and updated with a name change to the WEEKLY FX PREMIUM in Q1 2018, THE WEEKLY FX PREMIUM is a Forex subscription service that provides you with trade set-ups and my thoughts and views on the Forex Market. Set ups mostly happen by a strategic entry level but they can also be live in a moving market.  In addition to me advising you what trades I am looking at I also provide you on most days, market commentary relating to moves in the market that interest me, or my thoughts on up coming data releases or potential geopolitical events.\n\nWhilst I cannot 100% guarantee that you will make money from the trades I suggest, the WEEKLY FX PREMIUM now has a four-year historic track record of  profitable performances. The WEEKLY FX PREMIUM is open to all traders whether new, intermediate or experienced regardless of the size of your investment into the Forex market.\n\n</div>\n<div>\n\n&nbsp;\n<p style=\"text-align: center;\"></p>\n&nbsp;\n\n<strong><span style=\"font-size: 14pt;\">2</span>. <span style=\"font-size: 14pt;\">HOW DID THE WEEKLY FX PREMIUM EVOLVE?, HOW DOES IT WORK? and WHAT GIVES IT DIFFERENTIATION?</span></strong>\n\nI started trading Forex in 2008.\n\nI started the WEEKLY FX DRIVE THRU blog in 2011 and in 2012/2013 in addition to my market commenrtary, I started to add trade set ups to the blog. Late 2013, I decided to separate the market commentary from the trade set ups and in January 2014 the PREMIUM SERVICE, now WEEKLY FX PREMIUM started. I have never looked back. My 10,000 pip target per annum has been beaten each year.\n\n</div>\n<div>\n\nThe WEEKLY FX PREMIUM is NOT an automated system.\n\nI have a simple annual target on pips; 10,000 net profitable pips.\n\nI let you know what trade set-ups and trades  are on “MY RADAR”. I post trade set-ups at the <strong>@</strong>weeklyfxpremium twitter feed and I also email  the set-up data for all trade styles, except FLASH trades. During a typical week about 10-15 trades on average are posted. It is up to you if you decide to follow these trades or not, I am, just telling you what I am doing.\n\nWEEKLY FX PREMIUM subscribers have access to an exclusive secure twitter feed into which 24x7 I will tweet trade ideas, set-ups, amendments to limit orders, amendments to live trades, basically anything that is on my mind. (Whilst I live on Atlantic time (AST) I am active in most sessions, I try to catch up on sleep at the weekends).\n\nSubscribers also have access to a whole section of training materials on my website. All the trades that are entered are summarized and posted on excel spreadsheets on the website, so that you can see if you did not take a particular trade, whether it made money or not.\n\nWEEKLY FX PREMIUM (PLATINUM) subscribers will also receive if they want it, a monthly review one-on-one with me about the way the markets are trading, my general fundamental thoughts and views, plus we can review active trading styles etc. It is not compulsory for PLATINUM subscribers it is an option.\n\nI also provide bespoke training, if  YOU want it. This is priced individually based upon YOUR needs, timings and requirements. More details about this can be found under the EDUCATION tab in the section called Mentoring and Coaching.\n\nTrading for me is for the \"Long Haul\". I use TRADE, ACCOUNT and MIND MANAGEMENT techniques to ensure that I am around for the long haul.\n\nRead my TESTIMONIALS section, do not just take my word for it.  Everything is published...both the good and the not so good. Like every Forex trader I have losses, it is part of trading when RISK is involved. I have NO secrets, all good and bad trades are published. What you see is what you get; I am NOT a CITIBANK or BARCLAYS, I am Scott Pickering a Forex Trader.\n\nTrading Forex is not a win it quick cash grab. It is basically a RISK ASSESSMENT analysis of  trading charts supported by a FUNDAMENTAL overview of the market. It is fascinating, exciting, thrilling, very rewarding but also frustrating and annoying all at the same time. There are many things written about Forex. It is often called a \"gamblers paradise\" because it\'s a 50-50 option....simply up or down. Better odds than Las Vegas. There is much more to Forex Trading than odds.\n\nIf you are a gambler please just go to Las Vegas or your closest Casino. Trading Forex involves added risk due to LEVERAGE that Las Vegas does NOT have.\n\nI can help you through the all the issues no matter what level of trading experience you have, as I have mentioned already I am a trainer / educator as well as a trader and one of my personal goals is to help traders trade with greater consistency as this provides longevity in trading.\n\nSo, what do you receive from me as a subscriber to the WEEKLY FX PREMIUM: -\n\nAs soon as I see a trade set-up or a trade that I want to trade, I send out a tweet via my subscribers only TWITTER account @weeklyfxpremium. See the examples below, they also include trade amendment tweets as an example of a brief market commentary tweets: -\n\n</div>\n<div> <a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/Screen-Shot-2017-12-19-at-8.28.45-AM.png\"><img class=\"aligncenter size-full wp-image-10700\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/Screen-Shot-2017-12-19-at-8.28.45-AM.png\" alt=\"\" width=\"540\" height=\"690\" /></a></div>\n&nbsp;\n\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/Screen-Shot-2017-12-19-at-8.30.57-AM.png\"><img class=\"aligncenter size-full wp-image-10697\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/Screen-Shot-2017-12-19-at-8.30.57-AM.png\" alt=\"\" width=\"558\" height=\"686\" /></a>\n\n&nbsp;\n\nFollowing the twitter communication for all of my TRADE STYLES (Full details of my TRADE STYLES are provided upon subscribing) excluding FLASH TRADES an excel spreadsheet containing additional data behind the trade is also supplied, along with a further copy of the relevent trade chart.\n\nAs you can see the trade set up is clear and is coded to the TYPE (FUNDAMENTAL ) of trade with a reference number (FUN808 to match the tweet above) that is used throughout my website and all communications to track the performance of the trade.\n\n&nbsp;\n\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/Screen-Shot-2017-12-19-at-8.30.04-AM.png\"><img class=\"aligncenter size-large wp-image-10695\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/Screen-Shot-2017-12-19-at-8.30.04-AM-816x1024.png\" alt=\"\" width=\"816\" height=\"1024\" /></a>\n\n&nbsp;\n\n&nbsp;\n\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/Screen-Shot-2017-12-19-at-8.30.19-AM.png\"><img class=\"aligncenter size-large wp-image-10696\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/Screen-Shot-2017-12-19-at-8.30.19-AM-1024x810.png\" alt=\"\" width=\"1024\" height=\"810\" /></a>\n\n&nbsp;\n\n&nbsp;\n\n<span style=\"text-decoration: underline;\"><strong>PLEASE NOTE:</strong></span>\n\nI am a trader 24x5 and NOT all trades will remain open based upon the original trade  parameters outlined when the set-up is posted. I have to adjust to the trade as the trade moves and how the markets are performing. I have to react to geopolitical news events as they happen.\n\nI will tell you via TWITTER what I am doing, whether it be moving the LIMIT position or the STOP position etc. but trading is also about reacting to market conditions and some trades will close earlier than originally intended and some trades will be pro-longed. I trade with FULL flexibility within my TRADING PLAN guidelines.\n\nIn addition to set-ups, I also provide some market insights and commentaries. This may come via email or via TWITTER as the example below: -\n\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/Screen-Shot-2017-12-19-at-8.26.52-AM.png\"><img class=\"aligncenter size-full wp-image-10698\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/Screen-Shot-2017-12-19-at-8.26.52-AM.png\" alt=\"\" width=\"546\" height=\"542\" /></a>\n\n&nbsp;\n\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/Screen-Shot-2017-12-19-at-8.27.13-AM.png\"><img class=\"aligncenter size-full wp-image-10699\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/Screen-Shot-2017-12-19-at-8.27.13-AM.png\" alt=\"\" width=\"550\" height=\"390\" /></a>\n\n&nbsp;\n\nEach weekend, in addition to the commentary and insights that you receive from time to time during the week, as a subscriber you have access to a complete version of the WEEKLY FX DRIVE THRU blog via the secure \"subscribers only area\" of my website. The exclusive subscriber version contains more information than the FREE NEWSLETTER version.\n\nIn the subscribers only area, there are pages of Forex background educational pages covering chart analysis, candlestick patterns and many trade style articles that support you as a Forex Trader. Also in this area is the history of the WEEKLY FX PREMIUM covering its trading history.\n<ul>\n 	<li>I try to be different than other \"Signal Services\".</li>\n 	<li>I am a human, NOT a robot.</li>\n 	<li>I am a trader - I trade all the trade set-ups I provide.</li>\n 	<li>My trades are transparent and I have losses like every trader has.</li>\n 	<li>My goal is to generate 10,000 net pips per year</li>\n 	<li>I work long hours and I eat and breathe the Forex market.</li>\n 	<li>As a subscriber, I tell you what I am doing and when I am doing it. It is up to you if you follow, copy or do your own thing.</li>\n 	<li>If you have any questions regarding a WEEKLY FX PREMIUM subscription, please contact me at: - pips@weeklyfxdrivethru(dotcom)</li>\n</ul>\n<div>\n\nFinally, you should be aware as I trade my own trades, I only trade when the market gives me parameters that line up with my TRADE PLAN. If there are no trade set ups that meet my criteria I do NOT trade.\n\n</div>\n<div>\n\n&nbsp;\n\n<strong><span style=\"font-size: 14pt;\">3</span>. <span style=\"font-size: 14pt;\">WEEKLY FX PREMIUM –  ANNUAL RESULTS 2014, 2015, 2016 and 2017:</span></strong>\n\nTo give a complete view of the returns possible using the WEEKLY FX PREMIUM the annual performances below, include costs to trade that I am involved with, such as the costs to place a trade with your broker and the annual PREMIUM SERVICE subscription fees.\n\n<span style=\"text-decoration: underline;\">PLEASE NOTE</span>: - The returns shown below are based off trading just single lots in each trading style/category. Obviously, if are able to trade two lot position sizes the gross returns would be double and the costs to trade also double. RISK MANAGEMENT also comes into play when position sizes increase and should you require help or guidance on this subject please contact me. In addition, remember, the spread sheets below show a net position including an annual subscription to the PREMIUM SERVICE.\n\n<strong>2017 COMPLETE (PLEASE NOTE - These figures include a 12 month PREMIUM SERVICE subscription):</strong>\n\n</div>\n<div>\n\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/PS-NET-PROFITS-2017-COMPLETE.png\"><img class=\"aligncenter size-large wp-image-10723\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/PS-NET-PROFITS-2017-COMPLETE-972x1024.png\" alt=\"\" width=\"972\" height=\"1024\" /></a>\n\n&nbsp;\n<div>\n<p style=\"text-align: center;\"><strong>Looking specifically at 2017 above:</strong></p>\n<p style=\"text-align: center;\">Let\'s assume that you are a single mini lot trader of ALL trades that were suggested.</p>\n\n</div>\n<p style=\"text-align: center;\">You would have made 621 trades\nCost $621.00\nGross Income from the 621 trades = $12,220.00\nLess your cost to trade of $621.00 = Net income of $11,599.00\nLess your PREMIUM SERVICE subscription of $ 995.00* = <strong><span style=\"text-decoration: underline;\">$10,604.00</span>\n</strong>(*CAD$ equivalent)</p>\n<p style=\"text-align: center;\">From your investment of $621 you could make $10,604.00\nEverything is published there are no secrets.</p>\n<p style=\"text-align: center;\">You just have to work at your screens as much as I do to be around for every trade set up\nWhere else can you get such a return on capital?</p>\n<p style=\"text-align: center;\">If you were able to trade 2 x mini lots your net return could be:-\n($12,220.00 x 2 = $24,440.00 - (621 x 2 ) $1,242 = $23,198.00\nLess your PREMIUM SERVICE subscription of $995.00 = <span style=\"text-decoration: underline;\"><strong>$22,203.00</strong></span></p>\n<p style=\"text-align: center;\">You just to have to ensure that you have a broker account that can accommodate the risks involved to trade at these trade sizes relevant to the income goals that you have set yourself.</p>\n<p style=\"text-align: center;\">But you must take note that at any one time there can be as many as 30 live trades in operation with variable STOP LOSS RISKS attached to them. You need to consider the potential risks associated and fund your account accordingly to accommodate the flexibility that is required.</p>\n<p style=\"text-align: center;\">If you do not do this you will potentially expose yourself to margin calls from your broker.</p>\n<p style=\"text-align: center;\">As long as you trade with real and effective RISK MANAGEMENT and POSITION SIZING principles\nin place and trade in accordance with your TRADING PLAN, it is possible to make money part of full-time from Forex Trading.</p>\n<p style=\"text-align: center;\">At ALL times you need TRADING DISCIPLINE in place to ensure longevity in trading. This is key and fundamental to success.</p>\n<p style=\"text-align: center;\"><strong>PLEASE NOTE:</strong>\nYou must ensure that with any trading account  you have a sufficient balance to accommodate the risks involved in trading.\nThis is crucial to your trading success and you should not manage an account in which you trade too large a position size as this will only result in margin calls from your broker.\nWhich, in my opinion is a 100% recipe for a complete and utter disaster.\nYou must trade and operate an account sufficient to cope with the swings that you get with trading from profit to loss, as mentioned earlier\ntrading Forex involves RISK and this must be managed.\nIf you have questions on this subject please contact me at premiumservice@weeklyfxdrivethru.com\nI am here to help.</p>\n&nbsp;\n\n<strong>2016 COMPLETE (PLEASE NOTE - These figures include a 12 month PREMIUM SERVICE subscription):\n</strong>\n\n<strong><a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/PS-PROFITS-NET-2016-COMPLETE.png\"><img class=\"aligncenter size-large wp-image-10499\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/PS-PROFITS-NET-2016-COMPLETE-975x1024.png\" alt=\"\" width=\"975\" height=\"1024\" /></a></strong>\n\n<strong>2015 COMPLETE (PLEASE NOTE - These figures include a 12 month PREMIUM SERVICE subscription):</strong>\n\n<strong><a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/TOTAL-2015.png\">\n<img class=\"aligncenter size-large wp-image-10688\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/TOTAL-2015-1024x1006.png\" alt=\"\" width=\"1024\" height=\"1006\" /></a></strong>\n<div>\n\n&nbsp;\n<p style=\"text-align: left;\"><strong>2014 COMPLETE (PLEASE NOTE - These figures include a 12 month PREMIUM SERVICE subscription):</strong></p>\n\n</div>\n</div>\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/TOTAL-2014.png\"><img class=\"aligncenter size-large wp-image-10687\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/TOTAL-2014-1024x1015.png\" alt=\"\" width=\"1024\" height=\"1015\" /></a>\n\n&nbsp;\n\n&nbsp;\n\n<strong><span style=\"font-size: 14pt;\">4</span>. <span style=\"font-size: 14pt;\">WHAT ABOUT THIS YEARS PERFORMANCE IN 2018?</span></strong>\n\nRemember all profitability in my reporting is based upon single lot trading.\n\nSingle x Micro Lot trading cost US$0.10\nSingle x Micro Lot trading cost US$1.00\nSingle x Standard Lot trading cost US$10.00\n\n&nbsp;\n\n<span style=\"font-size: 14pt;\"><strong>4.1. FEBRUARY 2018:</strong></span>\n\n&nbsp;\n\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2018/03/FX-PREM-PERF-MCH-2018.png\"><img class=\"aligncenter size-full wp-image-11379\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2018/03/FX-PREM-PERF-MCH-2018.png\" alt=\"\" width=\"1024\" height=\"924\" /></a>\n\n&nbsp;\n\n&nbsp;\n\n&nbsp;\n\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2018/03/FLASH-4-HISTORY-MARCH-2018.png\"><img class=\"aligncenter size-full wp-image-11395\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2018/03/FLASH-4-HISTORY-MARCH-2018.png\" alt=\"\" width=\"1024\" height=\"852\" /></a>\n\n&nbsp;\n\n&nbsp;\n\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2018/03/RADAR-4-HISTORY-MARCH-2018.png\"><img class=\"aligncenter size-full wp-image-11396\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2018/03/RADAR-4-HISTORY-MARCH-2018.png\" alt=\"\" width=\"1024\" height=\"802\" /></a>\n\n&nbsp;\n\n&nbsp;\n\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2018/03/MOMENTUM-4-HISTORY-MARCH-2018.png\"><img class=\"aligncenter size-full wp-image-11397\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2018/03/MOMENTUM-4-HISTORY-MARCH-2018.png\" alt=\"\" width=\"1024\" height=\"741\" /></a>\n\n&nbsp;\n\n&nbsp;\n\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2018/03/FUN-4-HISTORY-MARCH-2018.png\"><img class=\"aligncenter size-full wp-image-11398\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2018/03/FUN-4-HISTORY-MARCH-2018.png\" alt=\"\" width=\"773\" height=\"1024\" /></a>\n\n&nbsp;\n\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2018/03/POS-4-HISTORY-MARCH-2018.png\"><img class=\"aligncenter size-full wp-image-11399\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2018/03/POS-4-HISTORY-MARCH-2018.png\" alt=\"\" width=\"924\" height=\"1024\" /></a>\n\n&nbsp;\n\n&nbsp;\n\n<span style=\"font-size: 14pt;\"><strong>4.2. YEAR TO DATE 2018:</strong></span>\n\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2018/03/FX-PREM-NET-YTD-MARCH-2018.png\"><img class=\"aligncenter size-full wp-image-11369\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2018/03/FX-PREM-NET-YTD-MARCH-2018.png\" alt=\"\" width=\"986\" height=\"1024\" /></a>\n\n&nbsp;\n\n&nbsp;\n<p style=\"text-align: center;\"><strong>As you can see from the excel spread sheet above both single mini lot and single standard lots traders\n</strong><strong>have more than covered the costs of their annual subscriptions already after just one month!</strong></p>\n&nbsp;\n\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2018/03/PIP-COMPARISON-MARCH-2018.png\"><img class=\"aligncenter size-full wp-image-11368\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2018/03/PIP-COMPARISON-MARCH-2018.png\" alt=\"\" width=\"1024\" height=\"750\" /></a>\n\n&nbsp;\n\n&nbsp;\n\n&nbsp;\n<div>\n\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2018/03/PERFORMANCE-ANAL-MARCH-2018.png\"><img class=\"aligncenter size-full wp-image-11381\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2018/03/PERFORMANCE-ANAL-MARCH-2018.png\" alt=\"\" width=\"916\" height=\"1024\" /></a>\n\n&nbsp;\n\n<span style=\"font-size: 14pt;\"><strong>5. PREMIUM SERVICE SUBSCRIPTION DETAILS:</strong></span>\n\nThere are 40 weekly \"DRIVE THRU\" blogs per year. I do not write in the summer and over Christmas periods. There will be an unlimited amount of Twitter follow-ups to the exclusive subscribers on a Twitter secure feed during the week to review and act upon “FLASH, RADAR, MOMENTUM, FUNDAMENTAL and POSITION trades” and issues emanating from previous blogs.\n\n</div>\n<strong>SUBSCRIPTION HIGHLIGHTS:</strong><u>\n</u>\n<ul>\n 	<li>3  subscription options.</li>\n 	<li>100% access to the PREMIUM SERVICE area of my website <a href=\"http://www.weeklyfxdrivethru.com/\">www.weeklyfxdrivethru.com</a></li>\n 	<li>A dedicated exclusive twitter feed @ThePremService.</li>\n 	<li>All trade set-ups communicated via Twitter and RADAR, MOMENTUM, FUNDAMENTAL and POSITION trades additionally via email.</li>\n 	<li>The full and complete version of The WEEKLY FX DRIVE THRU viewable on line inside the PREMIUM SERVICE secure section of <a href=\"http://www.weeklyfxdrivethru.com/\">www.weeklyfxdrivethru.com</a></li>\n 	<li>My thoughts and comments on market conditions via twitter and/or email.</li>\n 	<li>Option to request individual / bespoke \"one-on-one coaching\".</li>\n 	<li>PLATINUM MEMBERS (Annual subscribers - the highest level of subscription), will receive additional benefits over and above the other subscriber levels, such as optional monthly REVIEW MEETINGS.</li>\n 	<li>In addition ALL existing PLATINUM MEMBERS (annual subscribers) receive a 20% discount off their annual renewal subscription when they re-subscribe.</li>\n</ul>\n<h4>SUBSCRIPTION OPTIONS:</h4>\n<h4>MONTHLY ROLLOVER</h4>\n<div class=\"clearfix\" style=\"margin-bottom: 15px;\">\n<div class=\"one-half first\">\n<div class=\"subscription\">\n<p class=\"length\">SILVER MEMBER:\nTry the PREMIUM SERVICE for just CAD $10.00 for 10 days.\nAfter the 10 days your MONTHLY ROLLOVER subscription cost is CAD $150.00 (this equates to CAD $34.65 per week)</p>\n\n</div>\n</div>\n</div>\n<h4>FIXED PERIOD OPTIONS</h4>\n<div class=\"clearfix\" style=\"margin-bottom: 15px;\">\n<div class=\"one-half first\">\n<div class=\"subscription\">\n<p class=\"length\">GOLD MEMBER:\n6 Months (20 WEEKS) SUBSCRIPTION: CAD$800.00\n(this equates to CAD$40.00 per week)</p>\n\n</div>\n</div>\n</div>\n<div class=\"clearfix\" style=\"margin-bottom: 15px;\">\n<div class=\"one-half first\">\n<div class=\"subscription\">\n<p class=\"length\">PLATINUM MEMBER:\nANNUAL (40 WEEK) SUBSCRIPTION: CAD$1,250.00\n(this equates to CAD$31.25 per week)</p>\n\n</div>\n</div>\n</div>\n(All Fees are quoted in CAD$)\n\n&nbsp;\n\n<span style=\"font-size: 14pt;\"><strong>6. IF <span style=\"text-decoration: underline;\">YOU</span> ARE INTERESTED IN JOINING THE PREMIUM SERVICE <span style=\"text-decoration: underline;\">WHAT DO YOU NEXT</span>?</strong></span>\n\nIf you are happy with all the above and want to move forward to the next stage, here is what you do: -\n\nSubscribing to the PREMIUM SERVICE takes literally just 5 minutes maximum. On my welcome page go to SUBSCRIBE HERE at the top of the page to sign up. Choose the level of subscription that you want and period that you want to subscribe for.  It\'s very fast, easy and convenient.\n\nIn addition you should also check the PROMOTION tab at the top of this page as well, as from time to time they can be extremely attractive.\n\nI hope that you will find the argument to sign up and subscribe to the PREMIUM SERVICE compelling and look forward to welcoming you onboard soon.\n\nIf you have any questions at all or want additional information about anything to do with the PREMIUM SERVICE please email me at: - premiumservice@weeklyfxdrivethru(dotcom)\n\n<strong>\n</strong><span style=\"font-size: 14pt;\"><strong>7. FX BROKERS AND ADDITIONAL FOREX TRADING SUPPORT:</strong></span>\n\nOn my landing page there are a number of banners from brokers and equipment suppliers. These are my recommended relationships. Clicking on their banners establishes a link between the PREMIUM SERVICE (Me), the broker and you. As an educator one of my key objectives is to help and guide as best I can all traders to improve their consistency and profitability through trading. My preferred brokers from time to time will offer special incentives for new clients and as clients introduced via the PREMIUM SERVICE an additional support level is added.\n\nIf you are looking to add a Forex broker, please click on the banners and explore the options. Alternatively, please feel free to contact me should you have any questions.\n\n&nbsp;\n<div>\n\nScott Pickering\nThe Pip Accumulator\n31st March 2018\nhttp://www.weeklyfxdrivethru.com/disclaimer/\n\n</div>\n<div>\n\n<span style=\"text-decoration: underline;\"><strong>DISCLAIMER:</strong></span>\n\nFLASH, RADAR, MOMENTUM, FUNDAMENTAL and POSITION  trade set-ups, “Tweets” and “Trade ideas” that are posted in my blogs or on Twitter are trades and set-ups that interest me. They are provided for training and informational purposes only and should not be interpreted as an offer, solicitation or recommendation of any specific security or investment strategy. Past performance is not indicative of future results. Trading Forex carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to trade any such leveraged products you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. 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(11841, 1049, '2018-05-16 20:43:13', '2018-05-17 01:43:13', '<p style=\"text-align: center;\"><strong><span style=\"font-size: 14pt;\">\r\nPLATINUM SUBSCRIBER</span></strong>\r\n<strong><span style=\"font-size: 14pt;\">\r\n</span></strong><span style=\"font-size: 14pt;\">OPTIONAL </span>\r\n<span style=\"font-size: 14pt;\"> WEEKLY FX PREMIUM BENEFITS</span></p>\r\n<span style=\"font-size: 12pt;\">The PLATINUM subscription level is the level that annual subscribers are immediately entered at within THE WEEKLY FX PREMIUM.</span>\r\n\r\n<span style=\"font-size: 12pt;\">There are two main features and benefits of the PLATINUM subscription level.</span>\r\n<ol>\r\n 	<li><span style=\"font-size: 12pt;\">ALL PLATINUM subscribers are eligible for either Monthly or Quarterly review meetings. These take place by either SKYPE or FaceTime.</span>\r\n<span style=\"font-size: 12pt;\"> Over time as the feature has evolved current reviews include: - Thoughts on specific trading pairs, Fundamental market overview and Macro discussion and general chats about the current market and trading conditions. Trading is a lonely business and just to talk and bounce ideas benefits all concerned.</span>\r\n<span style=\"font-size: 12pt;\"> This feature however is optional, as a PLATINUM subscriber you do NOT have to partake.</span></li>\r\n 	<li><span style=\"font-size: 12pt;\">ALL PLATINUM subscribers who renew at the annual level (40 weeks) receive a 20% reduction on the Annual subscription fee at the time of their renewal.</span></li>\r\n</ol>\r\n<span style=\"font-size: 12pt;\">If you would like to register for “REVIEW MEETINGS” please email me at <a href=\"mailto:scott@thepremiumservice.com\">subscribers@weeklyfxpremium.com</a> and we can set them up.</span>\r\n\r\n<span style=\"font-size: 12pt;\">Scott Pickering</span>\r\n<span style=\"font-size: 12pt;\"> The Pip Accumulator</span>\r\n<span style=\"font-size: 12pt;\"> Ist January 2018</span>', 'Platinum Benefits', '', 'inherit', 'closed', 'closed', '', '10544-revision-v1', '', '', '2018-05-16 20:43:13', '2018-05-17 01:43:13', '', 10544, 'https://weeklyfxdrivethru.com/2018/05/10544-revision-v1/', 0, 'revision', '', 0),
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(11881, 1049, '2018-05-22 12:26:38', '2018-05-22 17:26:38', '[content_block id=11890]\r\n<p class=\"p1\"><img class=\"alignleft size-full wp-image-12034\" src=\"https://staging1.weeklyfxdrivethru.com/wp-content/uploads/2018/05/pdf.png\" alt=\"\" width=\"80\" height=\"80\" /></p>\r\n&nbsp;\r\n\r\n<span style=\"font-size: 12pt;\">\r\n<span style=\"font-size: 16pt;\"><strong><span style=\"color: #ff0000;\">These resources are in PDF format that will allow for easy printing</span></strong></span></span>\r\n\r\n&nbsp;\r\n<blockquote>\r\n<p style=\"padding-left: 30px;\"><span style=\"font-size: 12pt;\"><a href=\"https://staging1.weeklyfxdrivethru.com/wp-content/uploads/2018/05/1.-CANDLESTICK-FORMATION.pdf\">1. CANDLESTICK FORMATION\r\n</a></span></p>\r\n\r\n\r\n<hr />\r\n<p style=\"padding-left: 30px;\"><span style=\"font-size: 12pt;\"><a href=\"https://staging1.weeklyfxdrivethru.com/wp-content/uploads/2018/05/2.-LONG-BLACK-WHITE-CANDLES.pdf\">2. LONG BLACK &amp; WHITE CANDLES\r\n</a></span></p>\r\n\r\n\r\n<hr />\r\n<p style=\"padding-left: 30px;\"><span style=\"font-size: 12pt;\"><a href=\"https://staging1.weeklyfxdrivethru.com/wp-content/uploads/2018/05/3.-SHORT-BLACK-WHITE-CANDLES.pdf\">3. SHORT BLACK &amp; WHITE CANDLES\r\n</a></span></p>\r\n\r\n\r\n<hr />\r\n<p style=\"padding-left: 30px;\"><span style=\"font-size: 12pt;\"><a href=\"https://staging1.weeklyfxdrivethru.com/wp-content/uploads/2018/05/4.-INSIDE-CANDLE.pdf\">4. INSIDE CANDLE\r\n</a></span></p>\r\n\r\n\r\n<hr />\r\n<p style=\"padding-left: 30px;\"><span style=\"font-size: 12pt;\"><a href=\"https://staging1.weeklyfxdrivethru.com/wp-content/uploads/2018/05/5.-OUTSIDE-CANDLE.pdf\">5. OUTSIDE CANDLE\r\n</a></span></p>\r\n\r\n\r\n<hr />\r\n<p style=\"padding-left: 30px;\"><span style=\"font-size: 12pt;\"><a href=\"https://staging1.weeklyfxdrivethru.com/wp-content/uploads/2018/05/6.-BULLISH-ENGULFING.pdf\">6. BULLISH ENGULFING\r\n</a></span></p>\r\n\r\n\r\n<hr />\r\n<p style=\"padding-left: 30px;\"><span style=\"font-size: 12pt;\"><a href=\"https://staging1.weeklyfxdrivethru.com/wp-content/uploads/2018/05/7.-BEARISH-ENGULFING.pdf\">7. BEARISH ENGULFING\r\n</a></span></p>\r\n\r\n\r\n<hr />\r\n<p style=\"padding-left: 30px;\"><span style=\"font-size: 12pt;\"><a href=\"https://staging1.weeklyfxdrivethru.com/wp-content/uploads/2018/05/8.-BULLISH-HARAMI.pdf\">8. BULLISH HARAMI\r\n</a></span></p>\r\n\r\n\r\n<hr />\r\n<p style=\"padding-left: 30px;\"><span style=\"font-size: 12pt;\"><a href=\"https://staging1.weeklyfxdrivethru.com/wp-content/uploads/2018/05/9.-BEARISH-HARAMI.pdf\">9. BEARISH HARAMI\r\n</a></span></p>\r\n\r\n\r\n<hr />\r\n<p style=\"padding-left: 30px;\"><span style=\"font-size: 12pt;\"><a href=\"https://staging1.weeklyfxdrivethru.com/wp-content/uploads/2018/05/10.-MORNING-STAR.pdf\">10. MORNING STAR\r\n</a></span></p>\r\n\r\n\r\n<hr />\r\n<p style=\"padding-left: 30px;\"><span style=\"font-size: 12pt;\"><a href=\"https://staging1.weeklyfxdrivethru.com/wp-content/uploads/2018/05/11.-EVENING-STAR.pdf\">11. EVENING STAR\r\n</a></span></p>\r\n\r\n\r\n<hr />\r\n<p style=\"padding-left: 30px;\"><span style=\"font-size: 12pt;\"><a href=\"https://staging1.weeklyfxdrivethru.com/wp-content/uploads/2018/05/12.-PIERCING-LINE.pdf\">12. PIERCING LINE\r\n</a></span></p>\r\n\r\n\r\n<hr />\r\n<p style=\"padding-left: 30px;\"><span style=\"font-size: 12pt;\"><a href=\"https://staging1.weeklyfxdrivethru.com/wp-content/uploads/2018/05/13.-DARK-CLOUD-COVER.pdf\">13. DARK CLOUD COVER\r\n</a></span></p>\r\n\r\n\r\n<hr />\r\n<p style=\"padding-left: 30px;\"><span style=\"font-size: 12pt;\"><a href=\"https://staging1.weeklyfxdrivethru.com/wp-content/uploads/2018/05/14.-HAMMER.pdf\">14. HAMMER\r\n</a></span></p>\r\n\r\n\r\n<hr />\r\n<p style=\"padding-left: 30px;\"><span style=\"font-size: 12pt;\"><a href=\"https://staging1.weeklyfxdrivethru.com/wp-content/uploads/2018/05/15.-HANGING-MAN.pdf\">15. HANGING MAN\r\n</a></span></p>\r\n\r\n\r\n<hr />\r\n<p style=\"padding-left: 30px;\"><span style=\"font-size: 12pt;\"><a href=\"https://staging1.weeklyfxdrivethru.com/wp-content/uploads/2018/05/16.-SHOOTING-STAR.pdf\">16. SHOOTING STAR\r\n</a></span></p>\r\n\r\n\r\n<hr />\r\n<p style=\"padding-left: 30px;\"><span style=\"font-size: 12pt;\"><a href=\"https://staging1.weeklyfxdrivethru.com/wp-content/uploads/2018/05/17.-INVERTED-HAMMER.pdf\">17. INVERTED HAMMER\r\n</a></span></p>\r\n\r\n\r\n<hr />\r\n<p style=\"padding-left: 30px;\"><span style=\"font-size: 12pt;\"><a href=\"https://staging1.weeklyfxdrivethru.com/wp-content/uploads/2018/05/18.-DOJI.pdf\">18. DOJI\r\n</a></span></p>\r\n\r\n\r\n<hr />\r\n<p style=\"padding-left: 30px;\"><span style=\"font-size: 12pt;\"><a href=\"https://staging1.weeklyfxdrivethru.com/wp-content/uploads/2018/05/19.-SPINNING-TOP.pdf\">19. SPINNING TOP\r\n</a></span></p>\r\n\r\n\r\n<hr />\r\n<p style=\"padding-left: 30px;\"><span style=\"font-size: 12pt;\"><a href=\"https://staging1.weeklyfxdrivethru.com/wp-content/uploads/2018/05/20.-TWEEZER-TOP.pdf\">20. TWEEZER TOP\r\n</a></span></p>\r\n\r\n\r\n<hr />\r\n<p style=\"padding-left: 30px;\"><span style=\"font-size: 12pt;\"><a href=\"https://staging1.weeklyfxdrivethru.com/wp-content/uploads/2018/05/21.-TWEEZER-BOTTOM.pdf\">21. TWEEZER BOTTOM\r\n</a></span></p>\r\n\r\n\r\n<hr />\r\n<p style=\"padding-left: 30px;\"><span style=\"font-size: 12pt;\"><a href=\"https://staging1.weeklyfxdrivethru.com/wp-content/uploads/2018/05/22.-MARUBOZU.pdf\">22. MARUBOZU</a></span></p>\r\n</blockquote>\r\n&nbsp;\r\n\r\n&nbsp;', 'TRADING BASICS - Candlestick Analysis', '', 'publish', 'closed', 'closed', '', 'candlestick-analysis', '', '', '2018-05-31 19:47:35', '2018-06-01 00:47:35', '', 0, 'https://weeklyfxdrivethru.com/?page_id=11881', 0, 'page', '', 0),
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(10716, 1, '2017-12-22 18:04:44', '2017-12-22 23:04:44', '', 'PIP COMPARISON 2017 COMPLETE', '', 'inherit', 'open', 'closed', '', 'pip-comparison-2017-complete', '', '', '2017-12-22 18:16:38', '2017-12-22 23:16:38', '', 6869, 'https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/PIP-COMPARISON-2017-COMPLETE.png', 0, 'attachment', 'image/png', 0),
(10717, 1, '2017-12-22 18:04:55', '2017-12-22 23:04:55', '', 'LIMIT1 22122017', '', 'inherit', 'open', 'closed', '', 'limit1-22122017', '', '', '2017-12-22 18:07:32', '2017-12-22 23:07:32', '', 9399, 'https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/LIMIT1-22122017.png', 0, 'attachment', 'image/png', 0),
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(10721, 1, '2017-12-22 18:05:21', '2017-12-22 23:05:21', '', 'PREM SERV PROFITS1 DEC2017', '', 'inherit', 'open', 'closed', '', 'prem-serv-profits1-dec2017', '', '', '2017-12-22 18:14:03', '2017-12-22 23:14:03', '', 5000, 'https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/PREM-SERV-PROFITS1-DEC2017.png', 0, 'attachment', 'image/png', 0),
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(10723, 1, '2017-12-22 18:05:29', '2017-12-22 23:05:29', '', 'PS NET PROFITS 2017 COMPLETE', '', 'inherit', 'open', 'closed', '', 'ps-net-profits-2017-complete', '', '', '2017-12-22 18:14:14', '2017-12-22 23:14:14', '', 5000, 'https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/PS-NET-PROFITS-2017-COMPLETE.png', 0, 'attachment', 'image/png', 0),
(10735, 1, '2017-12-23 12:54:36', '2017-12-23 17:54:36', '&nbsp;\r\n<ol>\r\n 	<li><span style=\"font-size: 16pt;\"><strong>CHANGES IN TRADE STYLE DEFINITIONS:</strong></span></li>\r\n</ol>\r\nAs you will be aware from my recent email, as well as adding MOMENTUM TRADES to my trading options next year, I have reviewed the TRADE STYLE definitions for 2018. I am positive believing that these changes will help those of you who are less RISK orientated to minimize overall RISK.\r\n\r\nWith these changes, it allows me to be defined with POSITION TRADE trading limits. Moving forward, the Monthly ATR will feature more and more with POSITION TRADES. This was an issue for some of you operating with smaller broker accounts as these trades were eating up margin.  The changes that I am making means that you can select what POSITION TRADES you want to participate in, and instead of accounting for 50% of my trades this will be reduced next year to around 20%.\r\n\r\nFor those of you wanting an increased RISK, I have decided after testing to introduce MOMENTUM TRADES.\r\n\r\nPlease note; I am NOT abandoning RISK MANAGEMENT by introducing this trade style. I have tested these trades for over four months knowing that I would be making changes in definitions to trades in 2018 and I can work with these inside my successful TRADE PLAN definitions.\r\n\r\n<strong> </strong>\r\n<ol start=\"2\">\r\n 	<li><span style=\"font-size: 16pt;\"><strong>MY MACRO (FUNDAMENTAL) THOUGHTS FOR 2018:</strong></span></li>\r\n</ol>\r\nI am going to keep this brief and straightforward.\r\n\r\nThose of you who have been following me for sometime know that I am old school in the sense that I believe that the biggest impact on the direction of any currency is its Central Bank.\r\n\r\nIt’s really obvious, but sometimes it is lost in the grand scheme of things. My macro thoughts moving into 2018 are very much based on Central bank monetary policy.\r\n\r\nInitially, my thoughts were centered around Central Bank policy divergence, and whilst this is still a consideration, one should be mindful of the fact that there is a momentum amongst Central Bank governors to move to a more neutral / normalization route regarding monetary policy. With this shift, some of the forward guidance provided, in my opinion, can be treated with a pinch of salt, however, reading the statements in detail, which can be painful at times, gives the insight and direction intended, which in turn should give longer-term FX traders confidence.\r\n\r\nI am comforted by the fact the Central Banks are like the super oil-tankers that you see on the oceans of the world that require a turning circle of 12 miles to change direction and about 3 miles to come to a complete stop. Central Banks tend to be similar, directions are not choppy. Markets demand uncertainty and direction. They require a consistency to ensure price stabilities and investment confidence from business.\r\n\r\nWith the above in mind, looking into 2018, I want to focus POSITION TRADING into just 4 currencies: - GBP, CAD, AUD and NZD.\r\n\r\nI believe that the associated Central Banks will offer the best FX opportunities moving through 2018.\r\n\r\n<strong> </strong>\r\n<ol start=\"3\">\r\n 	<li><span style=\"font-size: 16pt;\"><strong>REASONS FOR CHOOSING THESE CURRENCIES:</strong></span></li>\r\n</ol>\r\nI am keeping these as straightforward and as basic as possible. I see no need to get into too much “nitty gritty” as it only increases the complexities, which I want to avoid.\r\n\r\nWhen looking at these currencies, I have looked at the recent economic indicators like GDP, CPi, Confidence numbers etc. However, sometimes external geopolitical factors can influence policy just as much and so my reasons for selecting these currencies are a combination of factors.\r\n\r\nFundamentals are crucial in selection as one set of stats does NOT make a trend. I have looked at and viewed data over the previous 12 months and in addition, looked ahead using Central bank projections and guidance from press conferences and statement releases to give me the best overall picture possible.\r\n\r\n<u>BOC – CAD:</u>\r\n\r\nStephen Poloz, BOC Governor, really pissed me off this year without showing balls by sticking to his principles. Probably for all the right reasons he tried to temper CAD strength but in reality, with the US being the border neighbour and the FED hell bent on raising interest rates come what may, it was only a matter of time before he had to get a little more bullish.\r\n\r\nThe BOC will have to maintain the status quo vis-à-vis interest rates to the FED. It is NOT an unwritten rule but historically it just happens.\r\n\r\nTherefore, I can see 3 x interest rate hikes from the BOC in 2018, Q1, Q2 and Q4.\r\n\r\n<u>RBA – AUD:</u>\r\n\r\nI was in Sydney earlier this year and my wife and I had dinner with an ex. PREMIUM SERVICE subscriber and his girlfriend, who, by coincidence worked at the RBA. Whilst no secrets were given away it was obvious that as Glenn Stevens’s replacement Philip Lowe, RBA Governor was extremely highly thought of and very well respected.\r\n\r\nThis has stuck with me through 2017 and reading the RBA statements the theme is consistent and this has been reflected in the moves of the AUD currency.\r\n\r\nMoving forward in 2018 this is the Central Bank, I believe could be the pick. I see the RBA having to keep pace with other Central banks to normalize, whilst they may be a little reluctant to join the party. The AUD economy is growing, it has strength and maybe in Q1 but definitely in Q2 I can see a policy change and a series of interest rates being factored in.\r\n\r\n<u>RNBZ – NZD:</u>\r\n\r\nTo a strengthening Kiwi dollar Adrian Orr has been announced as Graeme Wheeler’s full-time replacement from March 2018, taking over from the temporary Grant Spencer as governor of the RBNZ.\r\n\r\nHe has a hell of job on his hands. A new Left Labour Government in place, with a whole host of ideas, and changes in the works with its coalition partner NZ first, a populist party.\r\n\r\nChanges in RBNZ responsibilities are targeted despite the poo-pooing of all changes by Grant Spencer of late. It was blatantly obvious that he was old school, nothing to change here approach we are just fine as we are thank you very much!\r\n\r\nIt has been stated because of the political uncertainty and the desire to keep stability in the markets that the RBNZ would be on hold for an extended period of time. I can see and understand this, however, at some point the RBNZ will be forced somewhat to react to the RBA to keep the currency balance intact.\r\n\r\nFor this reason, I can see the RBNZ moving higher in the latter part of 2017, maybe Q3 but definitely Q4.\r\n\r\n<u>BOE - GBP:</u>\r\n\r\nOf the four currencies selected, this is without any fear the one with the greatest RISKS attached to it. If we were playing “It’s a Knock-out”, this would be my joker.\r\n\r\nThe UK is moving through the BREXIT process. We now see Theresa May move to phase two in Q1 2018, after basically giving the EU what they wanted in phase one and agreeing to kick the can down the road on borders (IRELAND / NORTHERN IRELAND and SPAIN / GIBRALTAR).\r\n\r\nFrom a Forex perspective, the whole FX world is looking to capitalize on what is expected to be a strengthening move in cable back towards the pre-BREXIT vote levels. In principle, agree with this thought process, although, I do as you all know think that at any time the GBP currency is always moments away from a negative statement that could have a negative effect on the GBP.\r\n\r\nIn complete understanding of this fact, I still see the GBP longer-term a “BUY THE DIP” currency. As the BREXIT process moves forward, I see the positives more than out weighing the negatives, although it will be a bumpy road back in the GBP/USD towards the 1.4500 - 1.5000 levels, I do believe that is where we are eventually heading.\r\n\r\nTiming will be everything with this trade.\r\n\r\nThe recent GDP data from the UK shows GDP at 1.7% y/y, although moving forward BREXIT headwinds show GDP in 2018 slowing down to 1.5%. This will be lagging the EUROZONE. However, the UK economy is not in the poor shape predicted by the “REMAINERS” during the referendum. The downside RISK just never materialized. It is holding up and performing regardless.\r\n\r\nThe big question in the UK from my perspective surrounds confidence. Should the UK economy continue to stabilize the UK economic outlook should get rosier as it realizes that there is life after BREXIT. This should in turn drive the BOE to move to normalize and over time talk about removing its QE (Quantitative Easing) support. All of this combined should boost the GBP.\r\n\r\nWill the BOE raise rates in 2018? My brain says no, but, it cannot be ruled out towards the end of 2018 should the headline inflation rate NOT fall as predicted and the gap between inflation and wages not get smaller.\r\n\r\nNevertheless, I do have concerns.\r\n\r\nWhilst I see the GBP strengthening in 2018. In March 2019 when the BREXIT deal is completed we enter a two-year transition. This is an uncertain period in my opinion. I envisage the political mud flying left and right as the reality of BREXIT hits home and the accusations will start flying as only politicians can do. The actual outcome WILL BE different from what everyone believed it would be. This is unavoidable.\r\n\r\nSo, my long GBP trade would not start until possibly Q2 2018 and reviewed prior to March 2019.\r\n\r\nThis currency pair does have greater RISK attached to it and it may not actually get off the line.\r\n\r\n&nbsp;\r\n<ol start=\"4\">\r\n 	<li><span style=\"font-size: 16pt;\"><strong> THE PAIRS I HAVE SELECTED… SO FAR:</strong></span></li>\r\n</ol>\r\nI have my list of pairs at hand and I have preliminary charts drawn with my preferred first choice entry levels. Obviously, I have my second and third choice entry levels as well.\r\n\r\nThe targets are known and my stop loss levels will in the main be in line with Monthly ATR levels at the extreme but NOT in all cases.\r\n\r\n<u>CAD PAIRS</u>: - USD/CAD and CAD/JPY\r\n\r\n<u>AUD PAIRS</u>: - AUD/USD and AUD/NZD.\r\n\r\n<u>NZD PAIRS</u>: - NZD/USD.\r\n\r\n<u>GBP PAIRS</u>: -  GBP/USD, GBP/NZD, EUR/GBP and GBP/CHF.\r\n\r\nObviously, one can go mad adding more and more currency pair options, and, maybe as the year progresses I will see better opportunities lie elsewhere but for now my focus is on the above.\r\n\r\n<strong> </strong>\r\n<ol start=\"5\">\r\n 	<li><span style=\"font-size: 16pt;\"><strong> TIMINGS and VOLUMES:</strong></span></li>\r\n</ol>\r\nBasically, I see this as a process commencing in January / February 2018. Whilst, for obvious reasons I cannot give exact timings, I do see this process gathering momentum early into 2018.\r\n\r\nBelow are my initial thoughts on when POSITION TRADES are likely to be more intensive with the currencies chosen.\r\n\r\nQ1: AUD and CAD\r\n\r\nQ2: GBP\r\n\r\nQ3: NZD\r\n\r\nQ4: N/A\r\n\r\nNOTE: - One must be flexible here with timing of the entries. Especially with the GBP, it’s not as much a question of being in trades but also its about when NOT to be in trades. The other currencies are not as “mental / volatile” with price movement as the cable and therefore some patience will be required waiting for trade set ups to trigger.\r\n\r\nIn 2017, I never really allowed POSITION TRADES to move forward, and being self-critical apart from the AUD/NZD, I allowed the shorter-term market influences to dictate. My goal next year will be based on less is more, with regards to allowing trades to move around inside the ATR limits.\r\n\r\nThis approach does appeal to part-time traders and those of you who do not have free access to check progress of trades on a regular basis.\r\n\r\nMoving forward, instead of POSITION TRADES counting for close to 50% of trades this will be reduced closer to 20% of the overall volume moving forward.\r\n\r\n&nbsp;\r\n<ol start=\"6\">\r\n 	<li><span style=\"font-size: 16pt;\"><strong> FINAL THOUGHTS:</strong></span></li>\r\n</ol>\r\nFinally, I am really looking forward to 2018. I have no major travel plans or conferences scheduled so at the time of writing it should be a full-on trading year. The usual suspects of RISK, ACCOUNT and HEAD MANAGEMENT will be vital and working within my TRADE PLAN one of my critical success factors.\r\n\r\nThe target is once again 10,000 pips and as the 2017 PREMIUM SERVICE closed yesterday, December 22nd, the clock is now ticking on a new trading year.\r\n\r\nAll that remains is to wish you and your families and loved ones a very Happy Christmas and to you have a great trading year in 2018.\r\n\r\nScott Pickering\r\nThe Pip Accumulator\r\nTwitter: @ThePremService\r\n<a href=\"http://weeklyfxdrivethru.com/disclaimer/\">http://weeklyfxdrivethru.com/disclaimer/\r\n</a>\r\n\r\nBLOG VERSION: PREMIUM SERVICE\r\nBLOG REFERENCE NUMBER: #160\r\nDATE: 23rd December 2017\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n&nbsp;', 'LONGER-TERM (POSITION) TRADING 2018', '', 'publish', 'open', 'closed', '', 'longer-term-position-trading-2018', '', '', '2018-01-18 13:56:46', '2018-01-18 18:56:46', '', 0, 'https://weeklyfxdrivethru.com/?post_type=member_posts&#038;p=10735', 0, 'member_posts', '', 0),
(10736, 1, '2017-12-23 12:54:36', '2017-12-23 17:54:36', '&nbsp;\r\n<ol>\r\n 	<li><span style=\"font-size: 16pt;\"><strong>CHANGES IN TRADE STYLE DEFINITIONS:</strong></span></li>\r\n</ol>\r\nAs you will be aware from my recent email, as well as adding MOMENTUM TRADES to my trading options next year, I have reviewed the TRADE STYLE definitions for 2018. I am positive believing that these changes will help those of you who are less RISK orientated to minimize overall RISK.\r\n\r\nWith these changes, it allows me to be defined with POSITION TRADE trading limits. Moving forward, the Monthly ATR will feature more and more with POSITION TRADES. This was an issue for some of you operating with smaller broker accounts as these trades were eating up margin.  The changes that I am making means that you can select what POSITION TRADES you want to participate in, and instead of accounting for 50% of my trades this will be reduced next year to around 20%.\r\n\r\nFor those of you wanting an increased RISK, I have decided after testing to introduce MOMENTUM TRADES.\r\n\r\nPlease note; I am NOT abandoning RISK MANAGEMENT by introducing this trade style. I have tested these trades for over four months knowing that I would be making changes in definitions to trades in 2018 and I can work with these inside my successful TRADE PLAN definitions.\r\n\r\n<strong> </strong>\r\n<ol start=\"2\">\r\n 	<li><span style=\"font-size: 16pt;\"><strong>MY MACRO (FUNDAMENTAL) THOUGHTS FOR 2018:</strong></span></li>\r\n</ol>\r\nI am going to keep this brief and straightforward.\r\n\r\nThose of you who have been following me for sometime know that I am old school in the sense that I believe that the biggest impact on the direction of any currency is its Central Bank.\r\n\r\nIt’s really obvious, but sometimes it is lost in the grand scheme of things. My macro thoughts moving into 2018 are very much based on Central bank monetary policy.\r\n\r\nInitially, my thoughts were centered around Central Bank policy divergence, and whilst this is still a consideration, one should be mindful of the fact that there is a momentum amongst Central Bank governors to move to a more neutral / normalization route regarding monetary policy. With this shift, some of the forward guidance provided, in my opinion, can be treated with a pinch of salt, however, reading the statements in detail, which can be painful at times, gives the insight and direction intended, which in turn should give longer-term FX traders confidence.\r\n\r\nI am comforted by the fact the Central Banks are like the super oil-tankers that you see on the oceans of the world that require a turning circle of 12 miles to change direction and about 3 miles to come to a complete stop. Central Banks tend to be similar, directions are not choppy. Markets demand uncertainty and direction. They require a consistency to ensure price stabilities and investment confidence from business.\r\n\r\nWith the above in mind, looking into 2018, I want to focus POSITION TRADING into just 4 currencies: - GBP, CAD, AUD and NZD.\r\n\r\nI believe that the associated Central Banks will offer the best FX opportunities moving through 2018.\r\n\r\n<strong> </strong>\r\n<ol start=\"3\">\r\n 	<li><span style=\"font-size: 16pt;\"><strong>REASONS FOR CHOOSING THESE CURRENCIES:</strong></span></li>\r\n</ol>\r\nI am keeping these as straightforward and as basic as possible. I see no need to get into too much “nitty gritty” as it only increases the complexities, which I want to avoid.\r\n\r\nWhen looking at these currencies, I have looked at the recent economic indicators like GDP, CPi, Confidence numbers etc. However, sometimes external geopolitical factors can influence policy just as much and so my reasons for selecting these currencies are a combination of factors.\r\n\r\nFundamentals are crucial in selection as one set of stats does NOT make a trend. I have looked at and viewed data over the previous 12 months and in addition, looked ahead using Central bank projections and guidance from press conferences and statement releases to give me the best overall picture possible.\r\n\r\n<u>BOC – CAD:</u>\r\n\r\nStephen Poloz, BOC Governor, really pissed me off this year without showing balls by sticking to his principles. Probably for all the right reasons he tried to temper CAD strength but in reality, with the US being the border neighbour and the FED hell bent on raising interest rates come what may, it was only a matter of time before he had to get a little more bullish.\r\n\r\nThe BOC will have to maintain the status quo vis-à-vis interest rates to the FED. It is NOT an unwritten rule but historically it just happens.\r\n\r\nTherefore, I can see 3 x interest rate hikes from the BOC in 2018, Q1, Q2 and Q4.\r\n\r\n<u>RBA – AUD:</u>\r\n\r\nI was in Sydney earlier this year and my wife and I had dinner with an ex. PREMIUM SERVICE subscriber and his girlfriend, who, by coincidence worked at the RBA. Whilst no secrets were given away it was obvious that as Glenn Stevens’s replacement Philip Lowe, RBA Governor was extremely highly thought of and very well respected.\r\n\r\nThis has stuck with me through 2017 and reading the RBA statements the theme is consistent and this has been reflected in the moves of the AUD currency.\r\n\r\nMoving forward in 2018 this is the Central Bank, I believe could be the pick. I see the RBA having to keep pace with other Central banks to normalize, whilst they may be a little reluctant to join the party. The AUD economy is growing, it has strength and maybe in Q1 but definitely in Q2 I can see a policy change and a series of interest rates being factored in.\r\n\r\n<u>RNBZ – NZD:</u>\r\n\r\nTo a strengthening Kiwi dollar Adrian Orr has been announced as Graeme Wheeler’s full-time replacement from March 2018, taking over from the temporary Grant Spencer as governor of the RBNZ.\r\n\r\nHe has a hell of job on his hands. A new Left Labour Government in place, with a whole host of ideas, and changes in the works with its coalition partner NZ first, a populist party.\r\n\r\nChanges in RBNZ responsibilities are targeted despite the poo-pooing of all changes by Grant Spencer of late. It was blatantly obvious that he was old school, nothing to change here approach we are just fine as we are thank you very much!\r\n\r\nIt has been stated because of the political uncertainty and the desire to keep stability in the markets that the RBNZ would be on hold for an extended period of time. I can see and understand this, however, at some point the RBNZ will be forced somewhat to react to the RBA to keep the currency balance intact.\r\n\r\nFor this reason, I can see the RBNZ moving higher in the latter part of 2017, maybe Q3 but definitely Q4.\r\n\r\n<u>BOE - GBP:</u>\r\n\r\nOf the four currencies selected, this is without any fear the one with the greatest RISKS attached to it. If we were playing “It’s a Knock-out”, this would be my joker.\r\n\r\nThe UK is moving through the BREXIT process. We now see Theresa May move to phase two in Q1 2018, after basically giving the EU what they wanted in phase one and agreeing to kick the can down the road on borders (IRELAND / NORTHERN IRELAND and SPAIN / GIBRALTAR).\r\n\r\nFrom a Forex perspective, the whole FX world is looking to capitalize on what is expected to be a strengthening move in cable back towards the pre-BREXIT vote levels. In principle, agree with this thought process, although, I do as you all know think that at any time the GBP currency is always moments away from a negative statement that could have a negative effect on the GBP.\r\n\r\nIn complete understanding of this fact, I still see the GBP longer-term a “BUY THE DIP” currency. As the BREXIT process moves forward, I see the positives more than out weighing the negatives, although it will be a bumpy road back in the GBP/USD towards the 1.4500 - 1.5000 levels, I do believe that is where we are eventually heading.\r\n\r\nTiming will be everything with this trade.\r\n\r\nThe recent GDP data from the UK shows GDP at 1.7% y/y, although moving forward BREXIT headwinds show GDP in 2018 slowing down to 1.5%. This will be lagging the EUROZONE. However, the UK economy is not in the poor shape predicted by the “REMAINERS” during the referendum. The downside RISK just never materialized. It is holding up and performing regardless.\r\n\r\nThe big question in the UK from my perspective surrounds confidence. Should the UK economy continue to stabilize the UK economic outlook should get rosier as it realizes that there is life after BREXIT. This should in turn drive the BOE to move to normalize and over time talk about removing its QE (Quantitative Easing) support. All of this combined should boost the GBP.\r\n\r\nWill the BOE raise rates in 2018? My brain says no, but, it cannot be ruled out towards the end of 2018 should the headline inflation rate NOT fall as predicted and the gap between inflation and wages not get smaller.\r\n\r\nNevertheless, I do have concerns.\r\n\r\nWhilst I see the GBP strengthening in 2018. In March 2019 when the BREXIT deal is completed we enter a two-year transition. This is an uncertain period in my opinion. I envisage the political mud flying left and right as the reality of BREXIT hits home and the accusations will start flying as only politicians can do. The actual outcome WILL BE different from what everyone believed it would be. This is unavoidable.\r\n\r\nSo, my long GBP trade would not start until possibly Q2 2018 and reviewed prior to March 2019.\r\n\r\nThis currency pair does have greater RISK attached to it and it may not actually get off the line.\r\n\r\n&nbsp;\r\n<ol start=\"4\">\r\n 	<li><span style=\"font-size: 16pt;\"><strong> THE PAIRS I HAVE SELECTED… SO FAR:</strong></span></li>\r\n</ol>\r\nI have my list of pairs at hand and I have preliminary charts drawn with my preferred first choice entry levels. Obviously, I have my second and third choice entry levels as well.\r\n\r\nThe targets are known and my stop loss levels will in the main be in line with Monthly ATR levels at the extreme but NOT in all cases.\r\n\r\n<u>CAD PAIRS</u>: - USD/CAD and CAD/JPY\r\n\r\n<u>AUD PAIRS</u>: - AUD/USD and AUD/NZD.\r\n\r\n<u>NZD PAIRS</u>: - NZD/USD.\r\n\r\n<u>GBP PAIRS</u>: -  GBP/USD, GBP/NZD, EUR/GBP and GBP/CHF.\r\n\r\nObviously, one can go mad adding more and more currency pair options, and, maybe as the year progresses I will see better opportunities lie elsewhere but for now my focus is on the above.\r\n\r\n<strong> </strong>\r\n<ol start=\"5\">\r\n 	<li><span style=\"font-size: 16pt;\"><strong> TIMINGS and VOLUMES:</strong></span></li>\r\n</ol>\r\nBasically, I see this as a process commencing in January / February 2018. Whilst, for obvious reasons I cannot give exact timings, I do see this process gathering momentum early into 2018.\r\n\r\nBelow are my initial thoughts on when POSITION TRADES are likely to be more intensive with the currencies chosen.\r\n\r\nQ1: AUD and CAD\r\n\r\nQ2: GBP\r\n\r\nQ3: NZD\r\n\r\nQ4: N/A\r\n\r\nNOTE: - One must be flexible here with timing of the entries. Especially with the GBP, it’s not as much a question of being in trades but also its about when NOT to be in trades. The other currencies are not as “mental / volatile” with price movement as the cable and therefore some patience will be required waiting for trade set ups to trigger.\r\n\r\nIn 2017, I never really allowed POSITION TRADES to move forward, and being self-critical apart from the AUD/NZD, I allowed the shorter-term market influences to dictate. My goal next year will be based on less is more, with regards to allowing trades to move around inside the ATR limits.\r\n\r\nThis approach does appeal to part-time traders and those of you who do not have free access to check progress of trades on a regular basis.\r\n\r\nMoving forward, instead of POSITION TRADES counting for close to 50% of trades this will be reduced closer to 20% of the overall volume moving forward.\r\n\r\n&nbsp;\r\n<ol start=\"6\">\r\n 	<li><span style=\"font-size: 16pt;\"><strong> FINAL THOUGHTS:</strong></span></li>\r\n</ol>\r\nFinally, I am really looking forward to 2018. I have no major travel plans or conferences scheduled so at the time of writing it should be a full-on trading year. The usual suspects of RISK, ACCOUNT and HEAD MANAGEMENT will be vital and working within my TRADE PLAN one of my critical success factors.\r\n\r\nThe target is once again 10,000 pips and as the 2017 PREMIUM SERVICE closed yesterday, December 22nd, the clock is now ticking on a new trading year.\r\n\r\nAll that remains is to wish you and your families and loved ones a very Happy Christmas and to you have a great trading year in 2018.\r\n\r\nScott Pickering\r\nThe Pip Accumulator\r\nTwitter: @ThePremService\r\n<a href=\"http://weeklyfxdrivethru.com/disclaimer/\">http://weeklyfxdrivethru.com/disclaimer/\r\n</a>\r\n\r\nBLOG VERSION: PREMIUM SERVICE\r\nBLOG REFERENCE NUMBER: #160\r\nDATE: 23rd December 2017\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n&nbsp;', 'LONGER-TERM (POSITION) TRADING 2018', '', 'inherit', 'closed', 'closed', '', '10735-revision-v1', '', '', '2017-12-23 12:54:36', '2017-12-23 17:54:36', '', 10735, 'https://weeklyfxdrivethru.com/10735-revision-v1/', 0, 'revision', '', 0),
(10737, 1, '2017-12-23 13:37:35', '2017-12-23 18:37:35', '<strong>\r\n<span style=\"font-size: 16pt;\">PREMIUM SERVICE REVIEW OF 2017:</span></strong>\r\n\r\nWithout doubt 2017 was not an easy year for me from a trading perspective. I had a house move from Quebec to Atlantic Canada plus immediately following the house move a trip to Australia and New Zealand in connection with my wife’s business, on the back of which we added a vacation.\r\n\r\nAt the end of July 2017, the idea of achieving my 10,000-pip annual target looked to be a tall order.\r\n\r\nPREMIUM SERVICE KEY RESULTS:\r\n<ul>\r\n 	<li>2017 PIP TOTAL = 12,220 pips</li>\r\n 	<li>75% trades positive and 25% trades were loss making trades. This was in line with my objective.</li>\r\n 	<li>From single-lot trading, both MINI and STANDARD lot traders both saw excellent returns.</li>\r\n</ul>\r\nFor more details on the 2017 PREMIUM SERVICE, please go to my website <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a> landing page and check out the HISTORY tab.\r\n\r\nThere is also a very special promotion in place for new subscribers to the PREMIUM SERVICE in 2018 under the PROMOTIONS tab.\r\n\r\nPlease note, all new subscriptions paid for now will be given full access to the PREMIUM SERVICE however, the date of your subscription will not start until January 8th, 2018.\r\n\r\nThe rest of this blog was intended for PREMIUM SERVICE subscribers only, as it was based around intended changes to my longer-term trading via POSITION TRADES in 2018.\r\n\r\nI decided that it may be of interest to other traders who are considering joining the PREMIUM SERVICE.\r\n\r\nPOSITION TRADES should account for about 20% of my overall trades next year. They are longer-term and may suit traders who cannot access their computers on a regular basis and prefer just to check on progress once or twice a day.\r\n\r\nCombined with the current PREMIUM SERVICE subscriber PROMOTION, this may be an option worth considering for 2018.\r\n\r\n<strong> </strong><strong> </strong>\r\n<p style=\"text-align: center;\"><span style=\"font-size: 18pt;\"><strong>PREMIUM SERVICE\r\nPOSITION TRADING 2018:</strong></span></p>\r\n<strong> </strong>\r\n<ol>\r\n 	<li><span style=\"font-size: 16pt;\"><strong>MY MACRO (FUNDAMENTAL) THOUGHTS FOR 2018:</strong></span></li>\r\n</ol>\r\nI am going to keep this brief and straightforward.\r\n\r\nThose of you who have been following me for sometime know that I am old school in the sense that I believe that the biggest impact on the direction of any currency is its Central Bank.\r\n\r\nIt’s really obvious, but sometimes it is lost in the grand scheme of things. My macro thoughts moving into 2018 are very much based on Central bank monetary policy.\r\n\r\nInitially, my thoughts were centered around Central Bank policy divergence, and whilst this is still a consideration, one should be mindful of the fact that there is a momentum amongst Central Bank governors to move to a more neutral / normalization route regarding monetary policy. With this shift, some of the forward guidance provided, in my opinion, can be treated with a pinch of salt, however, reading the statements in detail, which can be painful at times, gives the insight and direction intended, which in turn should give longer-term FX traders confidence.\r\n\r\nI am comforted by the fact the Central Banks are like the super oil-tankers that you see on the oceans of the world that require a turning circle of 12 miles to change direction and about 3 miles to come to a complete stop. Central Banks tend to be similar, directions are not choppy. Markets demand uncertainty and direction. They require a consistency to ensure price stabilities and investment confidence from business.\r\n\r\nWith the above in mind, looking into 2018, I want to focus POSITION TRADING into just 4 currencies: - GBP, CAD, AUD and NZD.\r\n\r\nI believe that the associated Central Banks will offer the best FX opportunities moving through 2018.\r\n\r\n<strong> </strong>\r\n<ol start=\"2\">\r\n 	<li><span style=\"font-size: 16pt;\"><strong>REASONS FOR CHOOSING THESE CURRENCIES:</strong></span></li>\r\n</ol>\r\nI am keeping these as straightforward and as basic as possible. I see no need to get into too much “nitty gritty” as it only increases the complexities, which I want to avoid.\r\n\r\nWhen looking at these currencies, I have looked at the recent economic indicators like GDP, CPi, Confidence numbers etc. However, sometimes external geopolitical factors can influence policy just as much and so my reasons for selecting these currencies are a combination of factors.\r\n\r\nFundamentals are crucial in selection as one set of stats does NOT make a trend. I have looked at and viewed data over the previous 12 months and in addition, looked ahead using Central bank projections and guidance from press conferences and statement releases to give me the best overall picture possible.\r\n\r\n<u>BOC – CAD:</u>\r\n\r\nStephen Poloz, BOC Governor, really pissed me off this year without showing balls by sticking to his principles. Probably for all the right reasons he tried to temper CAD strength but in reality, with the US being the border neighbour and the FED hell bent on raising interest rates come what may, it was only a matter of time before he had to get a little more bullish.\r\n\r\nThe BOC will have to maintain the status quo vis-à-vis interest rates to the FED. It is NOT an unwritten rule but historically it just happens.\r\n\r\nTherefore, I can see 3 x interest rate hikes from the BOC in 2018, Q1, Q2 and Q4.\r\n\r\n<u>RBA – AUD:</u>\r\n\r\nI was in Sydney earlier this year and my wife and I had dinner with an ex. PREMIUM SERVICE subscriber and his girlfriend, who, by coincidence worked at the RBA. Whilst no secrets were given away it was obvious that as Glenn Stevens’s replacement Philip Lowe, RBA Governor was extremely highly thought of and very well respected.\r\n\r\nThis has stuck with me through 2017 and reading the RBA statements the theme is consistent and this has been reflected in the moves of the AUD currency.\r\n\r\nMoving forward in 2018 this is the Central Bank, I believe could be the pick. I see the RBA having to keep pace with other Central banks to normalize, whilst they may be a little reluctant to join the party. The AUD economy is growing, it has strength and maybe in Q1 but definitely in Q2 I can see a policy change and a series of interest rates being factored in.\r\n\r\n<u>RNBZ – NZD:</u>\r\n\r\nTo a strengthening Kiwi dollar Adrian Orr has been announced as Graeme Wheeler’s full-time replacement from March 2018, taking over from the temporary Grant Spencer as governor of the RBNZ.\r\n\r\nHe has a hell of job on his hands. A new Left Labour Government in place, with a whole host of ideas, and changes in the works with its coalition partner NZ first, a populist party.\r\n\r\nChanges in RBNZ responsibilities are targeted despite the poo-pooing of all changes by Grant Spencer of late. It was blatantly obvious that he was old school, nothing to change here approach we are just fine as we are thank you very much!\r\n\r\nIt has been stated because of the political uncertainty and the desire to keep stability in the markets that the RBNZ would be on hold for an extended period of time. I can see and understand this, however, at some point the RBNZ will be forced somewhat to react to the RBA to keep the currency balance intact.\r\n\r\nFor this reason, I can see the RBNZ moving higher in the latter part of 2017, maybe Q3 but definitely Q4.\r\n\r\n<u>BOE - GBP:</u>\r\n\r\nOf the four currencies selected, this is without any fear the one with the greatest RISKS attached to it. If we were playing “It’s a Knock-out”, this would be my joker.\r\n\r\nThe UK is moving through the BREXIT process. We now see Theresa May move to phase two in Q1 2018, after basically giving the EU what they wanted in phase one and agreeing to kick the can down the road on borders (IRELAND / NORTHERN IRELAND and SPAIN / GIBRALTAR).\r\n\r\nFrom a Forex perspective, the whole FX world is looking to capitalize on what is expected to be a strengthening move in cable back towards the pre-BREXIT vote levels. In principle, agree with this thought process, although, I do as you all know think that at any time the GBP currency is always moments away from a negative statement that could have a negative effect on the GBP.\r\n\r\nIn complete understanding of this fact, I still see the GBP longer-term a “BUY THE DIP” currency. As the BREXIT process moves forward, I see the positives more than out weighing the negatives, although it will be a bumpy road back in the GBP/USD towards the 1.4500 - 1.5000 levels, I do believe that is where we are eventually heading.\r\n\r\nTiming will be everything with this trade.\r\n\r\nThe recent GDP data from the UK shows GDP at 1.7% y/y, although moving forward BREXIT headwinds show GDP in 2018 slowing down to 1.5%. This will be lagging the EUROZONE. However, the UK economy is not in the poor shape predicted by the “REMAINERS” during the referendum. The downside RISK just never materialized. It is holding up and performing regardless.\r\n\r\nThe big question in the UK from my perspective surrounds confidence. Should the UK economy continue to stabilize the UK economic outlook should get rosier as it realizes that there is life after BREXIT. This should in turn drive the BOE to move to normalize and over time talk about removing its QE (Quantitative Easing) support. All of this combined should boost the GBP.\r\n\r\nWill the BOE raise rates in 2018? My brain says no, but, it cannot be ruled out towards the end of 2018 should the headline inflation rate NOT fall as predicted and the gap between inflation and wages not get smaller.\r\n\r\nNevertheless, I do have concerns.\r\n\r\nWhilst I see the GBP strengthening in 2018. In March 2019 when the BREXIT deal is completed we enter a two-year transition. This is an uncertain period in my opinion. I envisage the political mud flying left and right as the reality of BREXIT hits home and the accusations will start flying as only politicians can do. The actual outcome WILL BE different from what everyone believed it would be. This is unavoidable.\r\n\r\nSo, my long GBP trade would not start until possibly Q2 2018 and reviewed prior to March 2019.\r\n\r\nThis currency pair does have greater RISK attached to it and it may not actually get off the line.\r\n\r\n&nbsp;\r\n<ol start=\"3\">\r\n 	<li><span style=\"font-size: 16pt;\"><strong> THE PAIRS I HAVE SELECTED… SO FAR:</strong></span></li>\r\n</ol>\r\nI have my list of pairs at hand and I have preliminary charts drawn with my preferred first choice entry levels. Obviously, I have my second and third choice entry levels as well.\r\n\r\nThe targets are known and my stop loss levels will in the main be in line with Monthly ATR levels at the extreme but NOT in all cases.\r\n\r\n<u>CAD PAIRS</u>: - USD/CAD and CAD/JPY\r\n\r\n<u>AUD PAIRS</u>: - AUD/USD and AUD/NZD.\r\n\r\n<u>NZD PAIRS</u>: - NZD/USD.\r\n\r\n<u>GBP PAIRS</u>: -  GBP/USD, GBP/NZD, EUR/GBP and GBP/CHF.\r\n\r\nObviously, one can go mad adding more and more currency pair options, and, maybe as the year progresses I will see better opportunities lie elsewhere but for now my focus is on the above.\r\n\r\n<strong> </strong>\r\n<ol start=\"4\">\r\n 	<li><span style=\"font-size: 16pt;\"><strong> TIMINGS and VOLUMES:</strong></span></li>\r\n</ol>\r\nBasically, I see this as a process commencing in January / February 2018. Whilst, for obvious reasons I cannot give exact timings, I do see this process gathering momentum early into 2018.\r\n\r\nBelow are my initial thoughts on when POSITION TRADES are likely to be more intensive with the currencies chosen.\r\n\r\nQ1: AUD and CAD\r\n\r\nQ2: GBP\r\n\r\nQ3: NZD\r\n\r\nQ4: N/A\r\n\r\nNOTE: - One must be flexible here with timing of the entries. Especially with the GBP, it’s not as much a question of being in trades but also its about when NOT to be in trades. The other currencies are not as “mental / volatile” with price movement as the cable and therefore some patience will be required waiting for trade set ups to trigger.\r\n\r\nIn 2017, I never really allowed POSITION TRADES to move forward, and being self-critical apart from the AUD/NZD, I allowed the shorter-term market influences to dictate. My goal next year will be based on less is more, with regards to allowing trades to move around inside the ATR limits.\r\n\r\nThis approach does appeal to part-time traders and those of you who do not have free access to check progress of trades on a regular basis.\r\n\r\nMoving forward, instead of POSITION TRADES counting for close to 50% of trades this will be reduced closer to 20% of the overall volume moving forward.\r\n\r\n&nbsp;\r\n<ol start=\"5\">\r\n 	<li><span style=\"font-size: 16pt;\"><strong> FINAL THOUGHTS:</strong></span></li>\r\n</ol>\r\nFinally, I am really looking forward to 2018. I have no major travel plans or conferences scheduled so at the time of writing it should be a full-on trading year. The usual suspects of RISK, ACCOUNT and HEAD MANAGEMENT will be vital and working within my TRADE PLAN one of my critical success factors.\r\n\r\nThe target is once again 10,000 pips and as the 2017 PREMIUM SERVICE closed yesterday, December 22nd, the clock is now ticking on a new trading year.\r\n\r\nAll that remains is to wish you and your families and loved ones a very Happy Christmas and to you have a great trading year in 2018.\r\n\r\n&nbsp;\r\n\r\nScott Pickering\r\nThe Pip Accumulator\r\nTwitter: @pipaccumulator\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/disclaimer/\">http://weeklyfxdrivethru.com/disclaimer/</a>\r\n\r\nBLOG VERSION: FREE NEWSLETTER\r\nBLOG REFERENCE NUMBER: #264\r\nDATE: 23rd December 2017\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n&nbsp;', '2017 REVIEW and POSITION TRADING 2018', '', 'publish', 'open', 'closed', '', '2017-review-position-trading-2018', '', '', '2017-12-23 13:37:35', '2017-12-23 18:37:35', '', 0, 'https://weeklyfxdrivethru.com/?p=10737', 0, 'post', '', 0);
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(10738, 1, '2017-12-23 13:37:35', '2017-12-23 18:37:35', '<strong>\r\n<span style=\"font-size: 16pt;\">PREMIUM SERVICE REVIEW OF 2017:</span></strong>\r\n\r\nWithout doubt 2017 was not an easy year for me from a trading perspective. I had a house move from Quebec to Atlantic Canada plus immediately following the house move a trip to Australia and New Zealand in connection with my wife’s business, on the back of which we added a vacation.\r\n\r\nAt the end of July 2017, the idea of achieving my 10,000-pip annual target looked to be a tall order.\r\n\r\nPREMIUM SERVICE KEY RESULTS:\r\n<ul>\r\n 	<li>2017 PIP TOTAL = 12,220 pips</li>\r\n 	<li>75% trades positive and 25% trades were loss making trades. This was in line with my objective.</li>\r\n 	<li>From single-lot trading, both MINI and STANDARD lot traders both saw excellent returns.</li>\r\n</ul>\r\nFor more details on the 2017 PREMIUM SERVICE, please go to my website <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a> landing page and check out the HISTORY tab.\r\n\r\nThere is also a very special promotion in place for new subscribers to the PREMIUM SERVICE in 2018 under the PROMOTIONS tab.\r\n\r\nPlease note, all new subscriptions paid for now will be given full access to the PREMIUM SERVICE however, the date of your subscription will not start until January 8th, 2018.\r\n\r\nThe rest of this blog was intended for PREMIUM SERVICE subscribers only, as it was based around intended changes to my longer-term trading via POSITION TRADES in 2018.\r\n\r\nI decided that it may be of interest to other traders who are considering joining the PREMIUM SERVICE.\r\n\r\nPOSITION TRADES should account for about 20% of my overall trades next year. They are longer-term and may suit traders who cannot access their computers on a regular basis and prefer just to check on progress once or twice a day.\r\n\r\nCombined with the current PREMIUM SERVICE subscriber PROMOTION, this may be an option worth considering for 2018.\r\n\r\n<strong> </strong><strong> </strong>\r\n<p style=\"text-align: center;\"><span style=\"font-size: 18pt;\"><strong>PREMIUM SERVICE\r\nPOSITION TRADING 2018:</strong></span></p>\r\n<strong> </strong>\r\n<ol>\r\n 	<li><span style=\"font-size: 16pt;\"><strong>MY MACRO (FUNDAMENTAL) THOUGHTS FOR 2018:</strong></span></li>\r\n</ol>\r\nI am going to keep this brief and straightforward.\r\n\r\nThose of you who have been following me for sometime know that I am old school in the sense that I believe that the biggest impact on the direction of any currency is its Central Bank.\r\n\r\nIt’s really obvious, but sometimes it is lost in the grand scheme of things. My macro thoughts moving into 2018 are very much based on Central bank monetary policy.\r\n\r\nInitially, my thoughts were centered around Central Bank policy divergence, and whilst this is still a consideration, one should be mindful of the fact that there is a momentum amongst Central Bank governors to move to a more neutral / normalization route regarding monetary policy. With this shift, some of the forward guidance provided, in my opinion, can be treated with a pinch of salt, however, reading the statements in detail, which can be painful at times, gives the insight and direction intended, which in turn should give longer-term FX traders confidence.\r\n\r\nI am comforted by the fact the Central Banks are like the super oil-tankers that you see on the oceans of the world that require a turning circle of 12 miles to change direction and about 3 miles to come to a complete stop. Central Banks tend to be similar, directions are not choppy. Markets demand uncertainty and direction. They require a consistency to ensure price stabilities and investment confidence from business.\r\n\r\nWith the above in mind, looking into 2018, I want to focus POSITION TRADING into just 4 currencies: - GBP, CAD, AUD and NZD.\r\n\r\nI believe that the associated Central Banks will offer the best FX opportunities moving through 2018.\r\n\r\n<strong> </strong>\r\n<ol start=\"2\">\r\n 	<li><span style=\"font-size: 16pt;\"><strong>REASONS FOR CHOOSING THESE CURRENCIES:</strong></span></li>\r\n</ol>\r\nI am keeping these as straightforward and as basic as possible. I see no need to get into too much “nitty gritty” as it only increases the complexities, which I want to avoid.\r\n\r\nWhen looking at these currencies, I have looked at the recent economic indicators like GDP, CPi, Confidence numbers etc. However, sometimes external geopolitical factors can influence policy just as much and so my reasons for selecting these currencies are a combination of factors.\r\n\r\nFundamentals are crucial in selection as one set of stats does NOT make a trend. I have looked at and viewed data over the previous 12 months and in addition, looked ahead using Central bank projections and guidance from press conferences and statement releases to give me the best overall picture possible.\r\n\r\n<u>BOC – CAD:</u>\r\n\r\nStephen Poloz, BOC Governor, really pissed me off this year without showing balls by sticking to his principles. Probably for all the right reasons he tried to temper CAD strength but in reality, with the US being the border neighbour and the FED hell bent on raising interest rates come what may, it was only a matter of time before he had to get a little more bullish.\r\n\r\nThe BOC will have to maintain the status quo vis-à-vis interest rates to the FED. It is NOT an unwritten rule but historically it just happens.\r\n\r\nTherefore, I can see 3 x interest rate hikes from the BOC in 2018, Q1, Q2 and Q4.\r\n\r\n<u>RBA – AUD:</u>\r\n\r\nI was in Sydney earlier this year and my wife and I had dinner with an ex. PREMIUM SERVICE subscriber and his girlfriend, who, by coincidence worked at the RBA. Whilst no secrets were given away it was obvious that as Glenn Stevens’s replacement Philip Lowe, RBA Governor was extremely highly thought of and very well respected.\r\n\r\nThis has stuck with me through 2017 and reading the RBA statements the theme is consistent and this has been reflected in the moves of the AUD currency.\r\n\r\nMoving forward in 2018 this is the Central Bank, I believe could be the pick. I see the RBA having to keep pace with other Central banks to normalize, whilst they may be a little reluctant to join the party. The AUD economy is growing, it has strength and maybe in Q1 but definitely in Q2 I can see a policy change and a series of interest rates being factored in.\r\n\r\n<u>RNBZ – NZD:</u>\r\n\r\nTo a strengthening Kiwi dollar Adrian Orr has been announced as Graeme Wheeler’s full-time replacement from March 2018, taking over from the temporary Grant Spencer as governor of the RBNZ.\r\n\r\nHe has a hell of job on his hands. A new Left Labour Government in place, with a whole host of ideas, and changes in the works with its coalition partner NZ first, a populist party.\r\n\r\nChanges in RBNZ responsibilities are targeted despite the poo-pooing of all changes by Grant Spencer of late. It was blatantly obvious that he was old school, nothing to change here approach we are just fine as we are thank you very much!\r\n\r\nIt has been stated because of the political uncertainty and the desire to keep stability in the markets that the RBNZ would be on hold for an extended period of time. I can see and understand this, however, at some point the RBNZ will be forced somewhat to react to the RBA to keep the currency balance intact.\r\n\r\nFor this reason, I can see the RBNZ moving higher in the latter part of 2017, maybe Q3 but definitely Q4.\r\n\r\n<u>BOE - GBP:</u>\r\n\r\nOf the four currencies selected, this is without any fear the one with the greatest RISKS attached to it. If we were playing “It’s a Knock-out”, this would be my joker.\r\n\r\nThe UK is moving through the BREXIT process. We now see Theresa May move to phase two in Q1 2018, after basically giving the EU what they wanted in phase one and agreeing to kick the can down the road on borders (IRELAND / NORTHERN IRELAND and SPAIN / GIBRALTAR).\r\n\r\nFrom a Forex perspective, the whole FX world is looking to capitalize on what is expected to be a strengthening move in cable back towards the pre-BREXIT vote levels. In principle, agree with this thought process, although, I do as you all know think that at any time the GBP currency is always moments away from a negative statement that could have a negative effect on the GBP.\r\n\r\nIn complete understanding of this fact, I still see the GBP longer-term a “BUY THE DIP” currency. As the BREXIT process moves forward, I see the positives more than out weighing the negatives, although it will be a bumpy road back in the GBP/USD towards the 1.4500 - 1.5000 levels, I do believe that is where we are eventually heading.\r\n\r\nTiming will be everything with this trade.\r\n\r\nThe recent GDP data from the UK shows GDP at 1.7% y/y, although moving forward BREXIT headwinds show GDP in 2018 slowing down to 1.5%. This will be lagging the EUROZONE. However, the UK economy is not in the poor shape predicted by the “REMAINERS” during the referendum. The downside RISK just never materialized. It is holding up and performing regardless.\r\n\r\nThe big question in the UK from my perspective surrounds confidence. Should the UK economy continue to stabilize the UK economic outlook should get rosier as it realizes that there is life after BREXIT. This should in turn drive the BOE to move to normalize and over time talk about removing its QE (Quantitative Easing) support. All of this combined should boost the GBP.\r\n\r\nWill the BOE raise rates in 2018? My brain says no, but, it cannot be ruled out towards the end of 2018 should the headline inflation rate NOT fall as predicted and the gap between inflation and wages not get smaller.\r\n\r\nNevertheless, I do have concerns.\r\n\r\nWhilst I see the GBP strengthening in 2018. In March 2019 when the BREXIT deal is completed we enter a two-year transition. This is an uncertain period in my opinion. I envisage the political mud flying left and right as the reality of BREXIT hits home and the accusations will start flying as only politicians can do. The actual outcome WILL BE different from what everyone believed it would be. This is unavoidable.\r\n\r\nSo, my long GBP trade would not start until possibly Q2 2018 and reviewed prior to March 2019.\r\n\r\nThis currency pair does have greater RISK attached to it and it may not actually get off the line.\r\n\r\n&nbsp;\r\n<ol start=\"3\">\r\n 	<li><span style=\"font-size: 16pt;\"><strong> THE PAIRS I HAVE SELECTED… SO FAR:</strong></span></li>\r\n</ol>\r\nI have my list of pairs at hand and I have preliminary charts drawn with my preferred first choice entry levels. Obviously, I have my second and third choice entry levels as well.\r\n\r\nThe targets are known and my stop loss levels will in the main be in line with Monthly ATR levels at the extreme but NOT in all cases.\r\n\r\n<u>CAD PAIRS</u>: - USD/CAD and CAD/JPY\r\n\r\n<u>AUD PAIRS</u>: - AUD/USD and AUD/NZD.\r\n\r\n<u>NZD PAIRS</u>: - NZD/USD.\r\n\r\n<u>GBP PAIRS</u>: -  GBP/USD, GBP/NZD, EUR/GBP and GBP/CHF.\r\n\r\nObviously, one can go mad adding more and more currency pair options, and, maybe as the year progresses I will see better opportunities lie elsewhere but for now my focus is on the above.\r\n\r\n<strong> </strong>\r\n<ol start=\"4\">\r\n 	<li><span style=\"font-size: 16pt;\"><strong> TIMINGS and VOLUMES:</strong></span></li>\r\n</ol>\r\nBasically, I see this as a process commencing in January / February 2018. Whilst, for obvious reasons I cannot give exact timings, I do see this process gathering momentum early into 2018.\r\n\r\nBelow are my initial thoughts on when POSITION TRADES are likely to be more intensive with the currencies chosen.\r\n\r\nQ1: AUD and CAD\r\n\r\nQ2: GBP\r\n\r\nQ3: NZD\r\n\r\nQ4: N/A\r\n\r\nNOTE: - One must be flexible here with timing of the entries. Especially with the GBP, it’s not as much a question of being in trades but also its about when NOT to be in trades. The other currencies are not as “mental / volatile” with price movement as the cable and therefore some patience will be required waiting for trade set ups to trigger.\r\n\r\nIn 2017, I never really allowed POSITION TRADES to move forward, and being self-critical apart from the AUD/NZD, I allowed the shorter-term market influences to dictate. My goal next year will be based on less is more, with regards to allowing trades to move around inside the ATR limits.\r\n\r\nThis approach does appeal to part-time traders and those of you who do not have free access to check progress of trades on a regular basis.\r\n\r\nMoving forward, instead of POSITION TRADES counting for close to 50% of trades this will be reduced closer to 20% of the overall volume moving forward.\r\n\r\n&nbsp;\r\n<ol start=\"5\">\r\n 	<li><span style=\"font-size: 16pt;\"><strong> FINAL THOUGHTS:</strong></span></li>\r\n</ol>\r\nFinally, I am really looking forward to 2018. I have no major travel plans or conferences scheduled so at the time of writing it should be a full-on trading year. The usual suspects of RISK, ACCOUNT and HEAD MANAGEMENT will be vital and working within my TRADE PLAN one of my critical success factors.\r\n\r\nThe target is once again 10,000 pips and as the 2017 PREMIUM SERVICE closed yesterday, December 22nd, the clock is now ticking on a new trading year.\r\n\r\nAll that remains is to wish you and your families and loved ones a very Happy Christmas and to you have a great trading year in 2018.\r\n\r\n&nbsp;\r\n\r\nScott Pickering\r\nThe Pip Accumulator\r\nTwitter: @pipaccumulator\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/disclaimer/\">http://weeklyfxdrivethru.com/disclaimer/</a>\r\n\r\nBLOG VERSION: FREE NEWSLETTER\r\nBLOG REFERENCE NUMBER: #264\r\nDATE: 23rd December 2017\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n&nbsp;', '2017 REVIEW and POSITION TRADING 2018', '', 'inherit', 'closed', 'closed', '', '10737-revision-v1', '', '', '2017-12-23 13:37:35', '2017-12-23 18:37:35', '', 10737, 'https://weeklyfxdrivethru.com/10737-revision-v1/', 0, 'revision', '', 0),
(11831, 1049, '2018-05-16 20:32:38', '2018-05-17 01:32:38', '<pre></pre>\r\n<p style=\"text-align: left;\"><span style=\"font-family: arial, helvetica, sans-serif; font-size: 12pt;\">Hello,</span></p>\r\n<span style=\"font-size: 12pt;\">From time to time I will offer PROMOTIONS to join the WEEKLY FX PREMIUM .</span>\r\n\r\n<span style=\"font-size: 12pt;\">At the present time there are no special subscriber promotions in place.</span>\r\n\r\n<span style=\"font-size: 12pt;\">Scott Pickering</span>\r\n<span style=\"font-size: 12pt;\"> The Pip Accumulator</span>\r\n<span style=\"font-size: 12pt;\"> 31st January 2018.</span>\r\n<h4></h4>', 'Promotions', '', 'inherit', 'closed', 'closed', '', '4984-revision-v1', '', '', '2018-05-16 20:32:38', '2018-05-17 01:32:38', '', 4984, 'https://weeklyfxdrivethru.com/2018/05/4984-revision-v1/', 0, 'revision', '', 0),
(11832, 1049, '2018-05-16 20:33:33', '2018-05-17 01:33:33', '<span style=\"font-size: 12pt;\">Content Pending</span>', 'THIS YEARS PERFORMANCE', '', 'inherit', 'closed', 'closed', '', '11724-revision-v1', '', '', '2018-05-16 20:33:33', '2018-05-17 01:33:33', '', 11724, 'https://weeklyfxdrivethru.com/2018/05/11724-revision-v1/', 0, 'revision', '', 0),
(11833, 1049, '2018-05-16 20:34:07', '2018-05-17 01:34:07', '<span style=\"font-size: 12pt;\">Content Pending</span>', 'WHAT IS THE WEEKLY FX PREMIUM', '', 'inherit', 'closed', 'closed', '', '11705-revision-v1', '', '', '2018-05-16 20:34:07', '2018-05-17 01:34:07', '', 11705, 'https://weeklyfxdrivethru.com/2018/05/11705-revision-v1/', 0, 'revision', '', 0),
(11834, 1049, '2018-05-16 20:34:43', '2018-05-17 01:34:43', '<span style=\"font-size: 12pt;\">Content Pending</span>', 'WHY SUBSCRIBE?', '', 'inherit', 'closed', 'closed', '', '11707-revision-v1', '', '', '2018-05-16 20:34:43', '2018-05-17 01:34:43', '', 11707, 'https://weeklyfxdrivethru.com/2018/05/11707-revision-v1/', 0, 'revision', '', 0),
(11835, 1049, '2018-05-16 20:35:26', '2018-05-17 01:35:26', '<span style=\"font-size: 12pt;\">Content Pending</span>', 'SUBSCRIPTION: COMMUNICATION EXAMPLES', '', 'inherit', 'closed', 'closed', '', '11721-revision-v1', '', '', '2018-05-16 20:35:26', '2018-05-17 01:35:26', '', 11721, 'https://weeklyfxdrivethru.com/2018/05/11721-revision-v1/', 0, 'revision', '', 0),
(11836, 1049, '2018-05-16 20:36:03', '2018-05-17 01:36:03', '<span style=\"font-size: 12pt;\">Content Pending</span>', 'PERFORMANCE HISTORY', '', 'inherit', 'closed', 'closed', '', '11727-revision-v1', '', '', '2018-05-16 20:36:03', '2018-05-17 01:36:03', '', 11727, 'https://weeklyfxdrivethru.com/2018/05/11727-revision-v1/', 0, 'revision', '', 0),
(11837, 1049, '2018-05-16 20:36:40', '2018-05-17 01:36:40', '<span style=\"font-size: 12pt;\">Content Pending</span>', 'POTENTIAL PROFITS... \"AN EXAMPLE\"', '', 'inherit', 'closed', 'closed', '', '11730-revision-v1', '', '', '2018-05-16 20:36:40', '2018-05-17 01:36:40', '', 11730, 'https://weeklyfxdrivethru.com/2018/05/11730-revision-v1/', 0, 'revision', '', 0),
(11839, 1049, '2018-05-16 20:39:48', '2018-05-17 01:39:48', '<span style=\"font-size: 12pt;\">[s2If current_user_is(administrator)]</span>\r\n<span style=\"font-size: 12pt;\"> Hello Site Administrator you can access all content :)</span>\r\n<span style=\"font-size: 12pt;\"> [/s2If]</span>\r\n<span style=\"font-size: 12pt;\"> [s2If current_user_is(s2member_level4)]</span>\r\n\r\n<section class=\"clearfix\">\r\n<div class=\"one-fourth first membership\">\r\n\r\n<a href=\"https://staging1.weeklyfxdrivethru.com/premium-service-annual-subscription-renewal/\"><img class=\"alignleft size-full wp-image-7748\" src=\"https://staging1.weeklyfxdrivethru.com/wp-content/uploads/2016/05/Annual-Subscription-renewal.jpg\" alt=\"Premium Service Annual Subscription-renewal\" width=\"400\" /></a>\r\n<h3>Premium Service Annual Renewal (PLATINUM SUBSCRIBERS)</h3>\r\n<h2 class=\"price\"><span style=\"font-size: 12pt;\">CAD $1000.00</span></h2>\r\n<span style=\"font-size: 12pt;\"><a class=\"button\" href=\"https://staging1.weeklyfxdrivethru.com/premium-service-annual-subscription-renewal/\" type=\"button\"> Buy Now</a></span>\r\n\r\n</div>\r\n</section><span style=\"font-size: 12pt;\">[/s2If]</span>\r\n\r\n<span style=\"font-size: 12pt;\">[s2If current_user_is(s2member_level2)]</span>\r\n<span style=\"font-size: 12pt;\"> Please renew your Premium Service Subscription after logging out</span>\r\n<span style=\"font-size: 12pt;\"> [/s2If]</span>\r\n<span style=\"font-size: 12pt;\"> [s2If !is_user_logged_in()]</span>\r\n\r\n<section class=\"clearfix\">\r\n<div class=\"one-third first membership\">\r\n\r\n<a href=\"./monthly-rollover-subscrption/\"><img class=\"alignleft size-full wp-image-9897\" src=\"https://staging1.weeklyfxdrivethru.com/wp-content/uploads/2017/08/MonthlyRolloverSubscription.jpg\" alt=\"Monthly Rollover Subscription\" width=\"400\" /></a>\r\n<h3><span style=\"font-size: 14pt;\">MONTHLY ROLLOVER SUBSCRPTION</span></h3>\r\n<h2 class=\"price\"><span style=\"font-size: 18pt;\">CAD $10.00 for the first 10 days</span></h2>\r\n<h2 class=\"price\"><span style=\"font-size: 18pt;\">CAD $150.00 per month</span></h2>\r\n<a class=\"button\" href=\"./monthly-rollover-subscrption/\" type=\"button\"> Buy Now</a>\r\n\r\n</div>\r\n<div class=\"one-third membership\">\r\n\r\n<a href=\"./premium-service-20-weeks-subscription\"><img class=\"alignleft size-full wp-image-7746\" src=\"https://staging1.weeklyfxdrivethru.com/wp-content/uploads/2016/05/6-Months-Subscriptions.jpg\" alt=\"Premium Service 6-Months-Subscriptions\" width=\"400\" /></a>\r\n<h3><span style=\"font-size: 14pt;\">6 Months Subscription (GOLD LEVEL SUBSCRIBERS)</span></h3>\r\n<h2 class=\"price\"><span style=\"font-size: 18pt;\">CAD $800.00</span></h2>\r\n<a class=\"button\" href=\"./premium-service-20-weeks-subscription\" type=\"button\"> Buy Now</a>\r\n\r\n</div>\r\n<div class=\"one-third membership\">\r\n\r\n<a href=\"./premium-service-40-weeks-subscription\"><img class=\"alignleft size-full wp-image-7747\" src=\"https://staging1.weeklyfxdrivethru.com/wp-content/uploads/2016/05/Annual-Subscription.jpg\" alt=\"Premium Service Annual-Subscription\" width=\"750\" height=\"750\" /></a>\r\n<h3><span style=\"font-size: 14pt;\">Annual Subscription (PLATINUM LEVEL SUBSCRIBERS)</span></h3>\r\n<h2 class=\"price\"><span style=\"font-size: 18pt;\">CAD $1250.00</span></h2>\r\n<a class=\"button\" href=\"./premium-service-40-weeks-subscription\" type=\"button\"> Buy Now</a>\r\n\r\n</div>\r\n</section>[/s2If]', 'Subscription Options', '', 'inherit', 'closed', 'closed', '', '7749-revision-v1', '', '', '2018-05-16 20:39:48', '2018-05-17 01:39:48', '', 7749, 'https://weeklyfxdrivethru.com/2018/05/7749-revision-v1/', 0, 'revision', '', 0),
(11838, 1049, '2018-05-16 20:38:42', '2018-05-17 01:38:42', '<span style=\"font-size: 12pt;\">[s2If current_user_is(administrator)]</span>\r\n<span style=\"font-size: 12pt;\"> Hello Site Administrator you can access all content :)</span>\r\n<span style=\"font-size: 12pt;\"> [/s2If]</span>\r\n<span style=\"font-size: 12pt;\"> [s2If current_user_is(s2member_level4)]</span>\r\n\r\n<section class=\"clearfix\">\r\n<div class=\"one-fourth first membership\">\r\n\r\n<a href=\"https://staging1.weeklyfxdrivethru.com/premium-service-annual-subscription-renewal/\"><img class=\"alignleft size-full wp-image-7748\" src=\"https://staging1.weeklyfxdrivethru.com/wp-content/uploads/2016/05/Annual-Subscription-renewal.jpg\" alt=\"Premium Service Annual Subscription-renewal\" width=\"400\" /></a>\r\n<h3><span style=\"font-size: 14pt;\">Premium Service Annual Renewal (PLATINUM SUBSCRIBERS)</span></h3>\r\n<h2 class=\"price\"><span style=\"font-size: 12pt;\">CAD $1000.00</span></h2>\r\n<span style=\"font-size: 12pt;\"><a class=\"button\" href=\"https://staging1.weeklyfxdrivethru.com/premium-service-annual-subscription-renewal/\" type=\"button\"> Buy Now</a></span>\r\n\r\n</div>\r\n</section><span style=\"font-size: 12pt;\">[/s2If]</span>\r\n\r\n<span style=\"font-size: 12pt;\">[s2If current_user_is(s2member_level2)]</span>\r\n<span style=\"font-size: 12pt;\"> Please renew your Premium Service Subscription after logging out</span>\r\n<span style=\"font-size: 12pt;\"> [/s2If]</span>\r\n<span style=\"font-size: 12pt;\"> [s2If !is_user_logged_in()]</span>\r\n\r\n<section class=\"clearfix\">\r\n<div class=\"one-third first membership\">\r\n\r\n<a href=\"./monthly-rollover-subscrption/\"><img class=\"alignleft size-full wp-image-9897\" src=\"https://staging1.weeklyfxdrivethru.com/wp-content/uploads/2017/08/MonthlyRolloverSubscription.jpg\" alt=\"Monthly Rollover Subscription\" width=\"400\" /></a>\r\n<h3><span style=\"font-size: 14pt;\">MONTHLY ROLLOVER SUBSCRPTION</span></h3>\r\n<h2 class=\"price\"><span style=\"font-size: 18pt;\">CAD $10.00 for the first 10 days</span></h2>\r\n<h2 class=\"price\"><span style=\"font-size: 18pt;\">CAD $150.00 per month</span></h2>\r\n<a class=\"button\" href=\"./monthly-rollover-subscrption/\" type=\"button\"> Buy Now</a>\r\n\r\n</div>\r\n<div class=\"one-third membership\">\r\n\r\n<a href=\"./premium-service-20-weeks-subscription\"><img class=\"alignleft size-full wp-image-7746\" src=\"https://staging1.weeklyfxdrivethru.com/wp-content/uploads/2016/05/6-Months-Subscriptions.jpg\" alt=\"Premium Service 6-Months-Subscriptions\" width=\"400\" /></a>\r\n<h3><span style=\"font-size: 14pt;\">6 Months Subscription (GOLD LEVEL SUBSCRIBERS)</span></h3>\r\n<h2 class=\"price\"><span style=\"font-size: 18pt;\">CAD $800.00</span></h2>\r\n<a class=\"button\" href=\"./premium-service-20-weeks-subscription\" type=\"button\"> Buy Now</a>\r\n\r\n</div>\r\n<div class=\"one-third membership\">\r\n\r\n<a href=\"./premium-service-40-weeks-subscription\"><img class=\"alignleft size-full wp-image-7747\" src=\"https://staging1.weeklyfxdrivethru.com/wp-content/uploads/2016/05/Annual-Subscription.jpg\" alt=\"Premium Service Annual-Subscription\" width=\"750\" height=\"750\" /></a>\r\n<h3><span style=\"font-size: 14pt;\">Annual Subscription (PLATINUM LEVEL SUBSCRIBERS)</span></h3>\r\n<h2 class=\"price\"><span style=\"font-size: 18pt;\">CAD $1250.00</span></h2>\r\n<a class=\"button\" href=\"./premium-service-40-weeks-subscription\" type=\"button\"> Buy Now</a>\r\n\r\n</div>\r\n</section>[/s2If]', 'Subscription Options', '', 'inherit', 'closed', 'closed', '', '7749-revision-v1', '', '', '2018-05-16 20:38:42', '2018-05-17 01:38:42', '', 7749, 'https://weeklyfxdrivethru.com/2018/05/7749-revision-v1/', 0, 'revision', '', 0),
(10747, 1045, '2018-01-08 10:33:07', '2018-01-08 15:33:07', '', 'trade-go120x600', '', 'inherit', 'open', 'closed', '', 'trade-go120x600', '', '', '2018-01-08 10:34:32', '2018-01-08 15:34:32', '', 0, 'https://weeklyfxdrivethru.com/wp-content/uploads/2018/01/trade-go120x600.png', 0, 'attachment', 'image/png', 0),
(10750, 1, '2018-01-13 07:07:06', '2018-01-13 12:07:06', '', 'ECON DATA 13012018', '', 'inherit', 'open', 'closed', '', 'econ-data-13012018', '', '', '2018-01-13 08:04:21', '2018-01-13 13:04:21', '', 10769, 'https://weeklyfxdrivethru.com/wp-content/uploads/2018/01/ECON-DATA-13012018.png', 0, 'attachment', 'image/png', 0),
(10751, 1, '2018-01-13 07:07:17', '2018-01-13 12:07:17', '', 'LT POS 13012018', '', 'inherit', 'open', 'closed', '', 'lt-pos-13012018', '', '', '2018-01-13 08:11:28', '2018-01-13 13:11:28', '', 10769, 'https://weeklyfxdrivethru.com/wp-content/uploads/2018/01/LT-POS-13012018.png', 0, 'attachment', 'image/png', 0),
(10752, 1, '2018-01-13 07:08:23', '2018-01-13 12:08:23', '', 'TCHART 13012018', '', 'inherit', 'open', 'closed', '', 'tchart-13012018', '', '', '2018-01-13 08:05:47', '2018-01-13 13:05:47', '', 10769, 'https://weeklyfxdrivethru.com/wp-content/uploads/2018/01/TCHART-13012018.png', 0, 'attachment', 'image/png', 0),
(10753, 1, '2018-01-13 07:08:31', '2018-01-13 12:08:31', '', 'SENTIMENT 13012018', '', 'inherit', 'open', 'closed', '', 'sentiment-13012018', '', '', '2018-01-13 08:10:05', '2018-01-13 13:10:05', '', 10769, 'https://weeklyfxdrivethru.com/wp-content/uploads/2018/01/SENTIMENT-13012018.png', 0, 'attachment', 'image/png', 0),
(10754, 1, '2018-01-13 07:08:35', '2018-01-13 12:08:35', '', 'LIMIT ORDERS 13012018', '', 'inherit', 'open', 'closed', '', 'limit-orders-13012018', '', '', '2018-01-13 08:12:01', '2018-01-13 13:12:01', '', 10769, 'https://weeklyfxdrivethru.com/wp-content/uploads/2018/01/LIMIT-ORDERS-13012018.png', 0, 'attachment', 'image/png', 0),
(10755, 1, '2018-01-13 07:08:38', '2018-01-13 12:08:38', '', 'LIVE TRADES 13012018', '', 'inherit', 'open', 'closed', '', 'live-trades-13012018', '', '', '2018-01-13 08:10:36', '2018-01-13 13:10:36', '', 10769, 'https://weeklyfxdrivethru.com/wp-content/uploads/2018/01/LIVE-TRADES-13012018.png', 0, 'attachment', 'image/png', 0),
(10756, 1, '2018-01-13 07:08:41', '2018-01-13 12:08:41', '', 'FLASH 13012018', '', 'inherit', 'open', 'closed', '', 'flash-13012018', '', '', '2018-01-13 14:59:18', '2018-01-13 19:59:18', '', 2711, 'https://weeklyfxdrivethru.com/wp-content/uploads/2018/01/FLASH-13012018.png', 0, 'attachment', 'image/png', 0),
(10757, 1, '2018-01-13 07:08:45', '2018-01-13 12:08:45', '', 'RADAR 13012018', '', 'inherit', 'open', 'closed', '', 'radar-13012018', '', '', '2018-01-13 15:00:01', '2018-01-13 20:00:01', '', 2524, 'https://weeklyfxdrivethru.com/wp-content/uploads/2018/01/RADAR-13012018.png', 0, 'attachment', 'image/png', 0),
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