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(11066, 1, '2018-03-01 18:04:44', '2018-03-01 23:04:44', 'With February now completed and my trading performance compiled, there are a couple of key points and observations that I want to make to my wider audience beyond my existing PREMIUM SERVICE subscribers.\r\n\r\n&nbsp;\r\n\r\n<strong><span style=\"font-size: 14pt;\">STATISTICS:</span></strong>\r\n\r\nFEBRUARY: NUMBER OF COMPLETED TRADES: 69\r\nFLASH TRADES = 14\r\nRADAR TRADES = 3\r\nMOMENTUM TRADES = 17\r\nFUNDAMENTAL TRADES = 15\r\nPOISITION TRADES = 20\r\n\r\nPIP TOTALS:\r\nFEBRUARY 2018: Total net pips = +2,414 pips\r\nYEAR TO DATE 2018: Total net pips = +3,892 pips\r\n\r\nPROFIT / LOSS RATIOS:\r\nFEBRUARY: 78% trades positive / 22% loss making trades\r\nYEAR TO DATE: 74% trades positive / 26% loss making trades\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2018/02/PL-FEB2018.png\"><img class=\"aligncenter size-large wp-image-11049\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2018/02/PL-FEB2018-914x1024.png\" alt=\"\" width=\"914\" height=\"1024\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2018/02/PIP-COMP-FEB2018.png\"><img class=\"aligncenter size-large wp-image-11050\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2018/02/PIP-COMP-FEB2018-1024x815.png\" alt=\"\" width=\"1024\" height=\"815\" /></a>\r\n\r\n&nbsp;\r\n\r\n<strong><span style=\"font-size: 14pt;\">INCOME PERFORMANCE REPORTS:</span></strong>\r\n\r\nThe excel speadsheets below show both the gross and net potential income opportunities trading with the PREMIUM SERVICE.\r\n\r\nBelow are the February and Year to Date spreadsheets showing the potential position so far for a trader who has subscribed with a FIXED PERIOD SUBSCRIPTION.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2018/02/PSPERF-FEB2018.png\"><img class=\"aligncenter size-large wp-image-11060\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2018/02/PSPERF-FEB2018-798x1024.png\" alt=\"\" width=\"798\" height=\"1024\" /></a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2018/02/PS-PERF-YTDFEB2018.png\"><img class=\"aligncenter size-large wp-image-11061\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2018/02/PS-PERF-YTDFEB2018-838x1024.png\" alt=\"\" width=\"838\" height=\"1024\" /></a>\r\n\r\n&nbsp;\r\n\r\nBelow is a Year to Date spreadsheet showing various potential examples of income for traders who may have subscribed to the PREMIUM SERVICE using the MONTHLY ROLLOVER SUBSCRIPTION option.\r\n\r\nThis shows the potential income opportunity both gross and net based off whether you trade 1 or 5 MICRO, MINI or STANDARD lot position sizes.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2018/03/PREMIUM-SERVICE-PERF.-JAN-FEB-2018.jpg\"><img class=\"aligncenter size-large wp-image-11065\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2018/03/PREMIUM-SERVICE-PERF.-JAN-FEB-2018-1024x829.jpg\" alt=\"\" width=\"1024\" height=\"829\" /></a>\r\n\r\n&nbsp;\r\n\r\nIf you want to know more about the PREMIUM SERVICE, please check it out by visiting my website <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a>\r\n\r\nOn my landing page there are various TABS across that top of the page that will provide you with all the information you require.\r\n\r\nScott Pickering\r\nThe Pip Accumulator\r\nMarch 1st 2018\r\nhttp://weeklyfxdrivethru.com/disclaimer/', 'THE PREMIUM SERVICE - FEBRUARY PERFORMANCE', '', 'publish', 'open', 'closed', '', 'premium-service-february-performance', '', '', '2018-03-01 18:05:22', '2018-03-01 23:05:22', '', 0, 'https://weeklyfxdrivethru.com/?p=11066', 0, 'post', '', 0),
(11067, 1, '2018-03-01 17:41:05', '2018-03-01 22:41:05', 'With February now completed and my trading performance compiled there are a couple of key points and observations that I want to make to my wider audience beyond PREMIUM SERVICE subscribers.\r\n\r\n\r\n<span style=\"font-size: 14pt;\">STATISTICS:</span>\r\n\r\nFEBRUARY: NUMBER OF COMPLETED TRADES: 69\r\nFLASH TRADES = 14\r\nRADAR TRADES = 3\r\nMOMENTUM TRADES = 17\r\nFUNDAMENTAL TRADES = 15\r\nPOISITION TRADES = 20\r\n\r\nPIP TOTALS:\r\nFEBRUARY 2018: Total net pips = +2,414 pips\r\nYEAR TO DATE 2018: Total net pips = +3,892 pips\r\n\r\nPROFIT / LOSS RATIOS:\r\nFEBRUARY: 78% trades positive / 22% loss making trades\r\nYEAR TO DATE: 74% trades positive / 26% loss making trades\r\n\r\n<span style=\"font-size: 14pt;\">PERFORMANCE REPORTS:</span>\r\n\r\nThe excel speadsheets below show both the gross and net potential income opportunities trading with the PREMIUM SERVICE.\r\n\r\nBelow is the Year to Date spreadsheet showing the potential position so far for a trader who has subscribed with a FIXED PERIOD SUBSCRIPTION.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2018/02/PS-PERF-YTDFEB2018.png\"><img class=\"aligncenter size-large wp-image-11061\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2018/02/PS-PERF-YTDFEB2018-838x1024.png\" alt=\"\" width=\"838\" height=\"1024\" /></a>\r\n\r\n&nbsp;\r\n\r\nBelow is the Year to Date spreadsheet showing various potential examples of income for traders who may have subscribed to the PREMIUM SERVICE using the MONTHLY ROLLOVER SUBSCRIPTION option.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2018/03/PREMIUM-SERVICE-PERF.-JAN-FEB-2018.jpg\"><img class=\"aligncenter size-large wp-image-11065\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2018/03/PREMIUM-SERVICE-PERF.-JAN-FEB-2018-1024x829.jpg\" alt=\"\" width=\"1024\" height=\"829\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n&nbsp;', 'THE PREMIUM SERVICE - FEBRUARY PERFORMANCE', '', 'inherit', 'closed', 'closed', '', '11066-revision-v1', '', '', '2018-03-01 17:41:05', '2018-03-01 22:41:05', '', 11066, 'https://weeklyfxdrivethru.com/11066-revision-v1/', 0, 'revision', '', 0),
(11068, 1, '2018-03-01 18:00:32', '2018-03-01 23:00:32', 'With February now completed and my trading performance compiled there are a couple of key points and observations that I want to make to my wider audience beyond PREMIUM SERVICE subscribers.\r\n\r\n<strong><span style=\"font-size: 14pt;\">STATISTICS:</span></strong>\r\n\r\nFEBRUARY: NUMBER OF COMPLETED TRADES: 69\r\nFLASH TRADES = 14\r\nRADAR TRADES = 3\r\nMOMENTUM TRADES = 17\r\nFUNDAMENTAL TRADES = 15\r\nPOISITION TRADES = 20\r\n\r\nPIP TOTALS:\r\nFEBRUARY 2018: Total net pips = +2,414 pips\r\nYEAR TO DATE 2018: Total net pips = +3,892 pips\r\n\r\nPROFIT / LOSS RATIOS:\r\nFEBRUARY: 78% trades positive / 22% loss making trades\r\nYEAR TO DATE: 74% trades positive / 26% loss making trades\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2018/02/PL-FEB2018.png\"><img class=\"aligncenter size-large wp-image-11049\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2018/02/PL-FEB2018-914x1024.png\" alt=\"\" width=\"914\" height=\"1024\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2018/02/PIP-COMP-FEB2018.png\"><img class=\"aligncenter size-large wp-image-11050\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2018/02/PIP-COMP-FEB2018-1024x815.png\" alt=\"\" width=\"1024\" height=\"815\" /></a>\r\n\r\n&nbsp;\r\n\r\n<strong><span style=\"font-size: 14pt;\">INCOME PERFORMANCE REPORTS:</span></strong>\r\n\r\nThe excel speadsheets below show both the gross and net potential income opportunities trading with the PREMIUM SERVICE.\r\n\r\nBelow are the February and Year to Date spreadsheets showing the potential position so far for a trader who has subscribed with a FIXED PERIOD SUBSCRIPTION.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2018/02/PSPERF-FEB2018.png\"><img class=\"aligncenter size-large wp-image-11060\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2018/02/PSPERF-FEB2018-798x1024.png\" alt=\"\" width=\"798\" height=\"1024\" /></a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2018/02/PS-PERF-YTDFEB2018.png\"><img class=\"aligncenter size-large wp-image-11061\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2018/02/PS-PERF-YTDFEB2018-838x1024.png\" alt=\"\" width=\"838\" height=\"1024\" /></a>\r\n\r\n&nbsp;\r\n\r\nBelow is the Year to Date spreadsheet showing various potential examples of income for traders who may have subscribed to the PREMIUM SERVICE using the MONTHLY ROLLOVER SUBSCRIPTION option.\r\n\r\nThe shows the potential income opportunity based off whether you trade 1 or 5 MICRO, MINI or STANDARD lot position sizes.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2018/03/PREMIUM-SERVICE-PERF.-JAN-FEB-2018.jpg\"><img class=\"aligncenter size-large wp-image-11065\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2018/03/PREMIUM-SERVICE-PERF.-JAN-FEB-2018-1024x829.jpg\" alt=\"\" width=\"1024\" height=\"829\" /></a>\r\n\r\n&nbsp;\r\n\r\nIf you want to know more about the PREMIUM SERVICE, please check it out by visting my website <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a>\r\n\r\nOn my landing page there are various TABS across that top of the page that will provide you with all the information you require.\r\n\r\nScott Pickering\r\nThe Pip Accumulator\r\nMarch 1st 2018', 'THE PREMIUM SERVICE - FEBRUARY PERFORMANCE', '', 'inherit', 'closed', 'closed', '', '11066-revision-v1', '', '', '2018-03-01 18:00:32', '2018-03-01 23:00:32', '', 11066, 'https://weeklyfxdrivethru.com/11066-revision-v1/', 0, 'revision', '', 0),
(11069, 1, '2018-03-01 18:04:44', '2018-03-01 23:04:44', 'With February now completed and my trading performance compiled, there are a couple of key points and observations that I want to make to my wider audience beyond my existing PREMIUM SERVICE subscribers.\r\n\r\n&nbsp;\r\n\r\n<strong><span style=\"font-size: 14pt;\">STATISTICS:</span></strong>\r\n\r\nFEBRUARY: NUMBER OF COMPLETED TRADES: 69\r\nFLASH TRADES = 14\r\nRADAR TRADES = 3\r\nMOMENTUM TRADES = 17\r\nFUNDAMENTAL TRADES = 15\r\nPOISITION TRADES = 20\r\n\r\nPIP TOTALS:\r\nFEBRUARY 2018: Total net pips = +2,414 pips\r\nYEAR TO DATE 2018: Total net pips = +3,892 pips\r\n\r\nPROFIT / LOSS RATIOS:\r\nFEBRUARY: 78% trades positive / 22% loss making trades\r\nYEAR TO DATE: 74% trades positive / 26% loss making trades\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2018/02/PL-FEB2018.png\"><img class=\"aligncenter size-large wp-image-11049\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2018/02/PL-FEB2018-914x1024.png\" alt=\"\" width=\"914\" height=\"1024\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2018/02/PIP-COMP-FEB2018.png\"><img class=\"aligncenter size-large wp-image-11050\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2018/02/PIP-COMP-FEB2018-1024x815.png\" alt=\"\" width=\"1024\" height=\"815\" /></a>\r\n\r\n&nbsp;\r\n\r\n<strong><span style=\"font-size: 14pt;\">INCOME PERFORMANCE REPORTS:</span></strong>\r\n\r\nThe excel speadsheets below show both the gross and net potential income opportunities trading with the PREMIUM SERVICE.\r\n\r\nBelow are the February and Year to Date spreadsheets showing the potential position so far for a trader who has subscribed with a FIXED PERIOD SUBSCRIPTION.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2018/02/PSPERF-FEB2018.png\"><img class=\"aligncenter size-large wp-image-11060\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2018/02/PSPERF-FEB2018-798x1024.png\" alt=\"\" width=\"798\" height=\"1024\" /></a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2018/02/PS-PERF-YTDFEB2018.png\"><img class=\"aligncenter size-large wp-image-11061\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2018/02/PS-PERF-YTDFEB2018-838x1024.png\" alt=\"\" width=\"838\" height=\"1024\" /></a>\r\n\r\n&nbsp;\r\n\r\nBelow is a Year to Date spreadsheet showing various potential examples of income for traders who may have subscribed to the PREMIUM SERVICE using the MONTHLY ROLLOVER SUBSCRIPTION option.\r\n\r\nThis shows the potential income opportunity both gross and net based off whether you trade 1 or 5 MICRO, MINI or STANDARD lot position sizes.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2018/03/PREMIUM-SERVICE-PERF.-JAN-FEB-2018.jpg\"><img class=\"aligncenter size-large wp-image-11065\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2018/03/PREMIUM-SERVICE-PERF.-JAN-FEB-2018-1024x829.jpg\" alt=\"\" width=\"1024\" height=\"829\" /></a>\r\n\r\n&nbsp;\r\n\r\nIf you want to know more about the PREMIUM SERVICE, please check it out by visting my website <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a>\r\n\r\nOn my landing page there are various TABS across that top of the page that will provide you with all the information you require.\r\n\r\nScott Pickering\r\nThe Pip Accumulator\r\nMarch 1st 2018\r\nhttp://weeklyfxdrivethru.com/disclaimer/', 'THE PREMIUM SERVICE - FEBRUARY PERFORMANCE', '', 'inherit', 'closed', 'closed', '', '11066-revision-v1', '', '', '2018-03-01 18:04:44', '2018-03-01 23:04:44', '', 11066, 'https://weeklyfxdrivethru.com/11066-revision-v1/', 0, 'revision', '', 0),
(11070, 1, '2018-03-01 18:05:22', '2018-03-01 23:05:22', 'With February now completed and my trading performance compiled, there are a couple of key points and observations that I want to make to my wider audience beyond my existing PREMIUM SERVICE subscribers.\r\n\r\n&nbsp;\r\n\r\n<strong><span style=\"font-size: 14pt;\">STATISTICS:</span></strong>\r\n\r\nFEBRUARY: NUMBER OF COMPLETED TRADES: 69\r\nFLASH TRADES = 14\r\nRADAR TRADES = 3\r\nMOMENTUM TRADES = 17\r\nFUNDAMENTAL TRADES = 15\r\nPOISITION TRADES = 20\r\n\r\nPIP TOTALS:\r\nFEBRUARY 2018: Total net pips = +2,414 pips\r\nYEAR TO DATE 2018: Total net pips = +3,892 pips\r\n\r\nPROFIT / LOSS RATIOS:\r\nFEBRUARY: 78% trades positive / 22% loss making trades\r\nYEAR TO DATE: 74% trades positive / 26% loss making trades\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2018/02/PL-FEB2018.png\"><img class=\"aligncenter size-large wp-image-11049\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2018/02/PL-FEB2018-914x1024.png\" alt=\"\" width=\"914\" height=\"1024\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2018/02/PIP-COMP-FEB2018.png\"><img class=\"aligncenter size-large wp-image-11050\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2018/02/PIP-COMP-FEB2018-1024x815.png\" alt=\"\" width=\"1024\" height=\"815\" /></a>\r\n\r\n&nbsp;\r\n\r\n<strong><span style=\"font-size: 14pt;\">INCOME PERFORMANCE REPORTS:</span></strong>\r\n\r\nThe excel speadsheets below show both the gross and net potential income opportunities trading with the PREMIUM SERVICE.\r\n\r\nBelow are the February and Year to Date spreadsheets showing the potential position so far for a trader who has subscribed with a FIXED PERIOD SUBSCRIPTION.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2018/02/PSPERF-FEB2018.png\"><img class=\"aligncenter size-large wp-image-11060\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2018/02/PSPERF-FEB2018-798x1024.png\" alt=\"\" width=\"798\" height=\"1024\" /></a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2018/02/PS-PERF-YTDFEB2018.png\"><img class=\"aligncenter size-large wp-image-11061\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2018/02/PS-PERF-YTDFEB2018-838x1024.png\" alt=\"\" width=\"838\" height=\"1024\" /></a>\r\n\r\n&nbsp;\r\n\r\nBelow is a Year to Date spreadsheet showing various potential examples of income for traders who may have subscribed to the PREMIUM SERVICE using the MONTHLY ROLLOVER SUBSCRIPTION option.\r\n\r\nThis shows the potential income opportunity both gross and net based off whether you trade 1 or 5 MICRO, MINI or STANDARD lot position sizes.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2018/03/PREMIUM-SERVICE-PERF.-JAN-FEB-2018.jpg\"><img class=\"aligncenter size-large wp-image-11065\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2018/03/PREMIUM-SERVICE-PERF.-JAN-FEB-2018-1024x829.jpg\" alt=\"\" width=\"1024\" height=\"829\" /></a>\r\n\r\n&nbsp;\r\n\r\nIf you want to know more about the PREMIUM SERVICE, please check it out by visiting my website <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a>\r\n\r\nOn my landing page there are various TABS across that top of the page that will provide you with all the information you require.\r\n\r\nScott Pickering\r\nThe Pip Accumulator\r\nMarch 1st 2018\r\nhttp://weeklyfxdrivethru.com/disclaimer/', 'THE PREMIUM SERVICE - FEBRUARY PERFORMANCE', '', 'inherit', 'closed', 'closed', '', '11066-revision-v1', '', '', '2018-03-01 18:05:22', '2018-03-01 23:05:22', '', 11066, 'https://weeklyfxdrivethru.com/11066-revision-v1/', 0, 'revision', '', 0),
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(11073, 1, '2018-03-03 05:56:29', '2018-03-03 10:56:29', '', 'RADAR 03032018', '', 'inherit', 'open', 'closed', '', 'radar-03032018', '', '', '2018-03-03 06:56:55', '2018-03-03 11:56:55', '', 2524, 'https://weeklyfxdrivethru.com/wp-content/uploads/2018/03/RADAR-03032018.png', 0, 'attachment', 'image/png', 0),
(11074, 1, '2018-03-03 05:56:35', '2018-03-03 10:56:35', '', 'MOMENTUM 03032018', '', 'inherit', 'open', 'closed', '', 'momentum-03032018', '', '', '2018-03-03 06:58:18', '2018-03-03 11:58:18', '', 10540, 'https://weeklyfxdrivethru.com/wp-content/uploads/2018/03/MOMENTUM-03032018.png', 0, 'attachment', 'image/png', 0),
(11075, 1, '2018-03-03 05:56:48', '2018-03-03 10:56:48', '', 'FUN 03032018', '', 'inherit', 'open', 'closed', '', 'fun-03032018', '', '', '2018-03-03 06:59:41', '2018-03-03 11:59:41', '', 3106, 'https://weeklyfxdrivethru.com/wp-content/uploads/2018/03/FUN-03032018.png', 0, 'attachment', 'image/png', 0),
(11076, 1, '2018-03-03 05:56:54', '2018-03-03 10:56:54', '', 'POSITION 03032018', '', 'inherit', 'open', 'closed', '', 'position-03032018', '', '', '2018-03-03 07:00:28', '2018-03-03 12:00:28', '', 6965, 'https://weeklyfxdrivethru.com/wp-content/uploads/2018/03/POSITION-03032018.png', 0, 'attachment', 'image/png', 0),
(11077, 1, '2018-03-03 05:56:57', '2018-03-03 10:56:57', '', 'PS SUMMARY 03032018', '', 'inherit', 'open', 'closed', '', 'ps-summary-03032018', '', '', '2018-03-03 06:15:41', '2018-03-03 11:15:41', '', 11083, 'https://weeklyfxdrivethru.com/wp-content/uploads/2018/03/PS-SUMMARY-03032018.png', 0, 'attachment', 'image/png', 0),
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(11083, 1, '2018-03-03 06:43:04', '2018-03-03 11:43:04', '<ol>\r\n 	<li><span style=\"font-size: 14pt;\"><strong>THE FIRST SHOT:</strong></span></li>\r\n</ol>\r\nWelcome to the month of March.\r\n\r\nThe name of the month may have changed but the geopolitical and economic concerns that could send the FX market into either a tailspin or the ultimate short squeeze are still hanging over us like the “Sword of Damocles”.\r\n<ul>\r\n 	<li>ITALIAN ELECTIONS – COALITION PARTNERS UNCERTAINTY</li>\r\n 	<li>GERMANY - SPD PARTY VOTES ON COALITION DEAL with CDU</li>\r\n 	<li>BREXIT – EU &amp; UK IN GAME OF “HIGH STAKES CHICKEN”</li>\r\n 	<li>TRUMP – KICKING OFF A GLOBAL TRADE WAR</li>\r\n 	<li>JEROME POWELL – FED RATE HIKES in 201</li>\r\n 	<li>US 10YR YIELDS if BREAK THROUGH 3% sets up 4.5%</li>\r\n 	<li>BOJ – CHANGE IN MONETARY POLICY RE QQE in 2019?</li>\r\n</ul>\r\nHappy days... It’s all good fun and it ensures that we remain vigilant whilst staring at our trading screens.\r\n\r\nI have often said jokingly to friends that trading Forex one has to “Rub your tummy and scratch your head both at the same time” just to keep up at times, and what fascinates me most about trading currencies is that when you look at the list above, some are currency positive, some are currency negative. It is the inter-market reactions and correlations that keep you on your toes. Even more so at the moment as many correlations are “off” and correlations “do matter” when trading currencies.\r\n\r\nSo, it looks like there will be some fun ahead this week and when you add into the mix a full range of economic data releases as well, such as U.S. Non-Farm Payrolls, ECB Press Conference and Policy decisions, BOJ, RBA and BOC interest rate decisions and Central Bank statements, plus CAD jobs and Trade Balance and AUD Retail Sales, GDP and Trade Balance, it is set up to be a week of potential volatility.\r\n\r\nLet me make a bit of an understatement.... this week is a big week for data and reactions to geopolitical events.... no kidding!\r\n\r\nIf you are new to the FX market, this week could be one to sit back and merely just observe the price action.\r\n\r\nFinally, in this section...\r\n\r\nI think that in the last 12 months I have written or mentioned crypto currencies only once and that was in section 5, which only PREMIUM SERVICE subscribers see. I was asked a question during the week as to why I do not talk about them?\r\n\r\nMy answer is very easy and clear.\r\n\r\nUntil they are fully regulated and safe to trade, I am not interested.\r\n\r\n<strong> </strong>\r\n<ol start=\"2\">\r\n 	<li><span style=\"font-size: 14pt;\"><strong> MARKET OVERVIEW – MY THOUGHTS:</strong></span><strong> </strong></li>\r\n</ol>\r\n<p style=\"text-align: center;\"><span style=\"font-size: 14pt;\"><strong>BREXIT AT A “MEXICAN STANDOFF”</strong></span></p>\r\nNow...\r\n\r\nWithout looking like I have read the book “THE ART OF THE DEAL”, I have to say that UK Prime Minister May’s fourth “APRES BREXIT” speech last Friday ticked lots of the boxes. Whilst the speech was just as much a speech to appeal to Conservative Party unity, it was also conciliatory for the EU in that she did NOT threaten to stamp her feet and walk away.\r\n\r\nWhether you rate Theresa May’s leadership or not, the speech hit every note that needed to be hit. She has to do this in my opinion.... why?\r\n\r\nNothing new here I’m afraid, it’s all to do with BREXIT CONTAGION.\r\n\r\nThe facts are very simple. The EU has as much, if not some would say, more to lose than the UK when the BREXIT finally happens.\r\n\r\nKeeping this very simple and straightforward, both the UK and the EU have lots to lose if they do not maintain equitable trade relations.\r\n\r\nIf the BREXIT agreement is seen as a “GOOD DEAL” to leave the EU, the fear from the EU is that the current EU27 (the number of countries currently members of the EUROPEAN UNION), could reduce to the EU25 or EU22... pick your own number.\r\n\r\nThe EU negotiating team led my Michel Barnier (Presently French Politician, ex. European Commissioner for Internal Market and Services 2010-2014) and supported by the likes of Donald Tusk (currently President of the European council and ex. Prime Minister of Poland) and Jean Claude Junker (President of the European commission and Luxembourg politician), are maintaining a HARD-RED LINE to demonstrate that, leaving the EU should be no “Bed of Roses”.\r\n\r\nThe simple facts are though, from my perspective that since the vote was taken via referendum to leave the EU by the UK voters in June 2016, very little appears to have happened by way of actually leaving.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2018/03/BREXIT-TIMELINE-03032018.png\"><img class=\"aligncenter size-large wp-image-11071\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2018/03/BREXIT-TIMELINE-03032018-985x1024.png\" alt=\"\" width=\"985\" height=\"1024\" /></a>\r\n\r\nFrom the chart above, basically following the trigger of Article 50 in March 2017 (a year ago) from my perspective it’s been a game of “HIGH STAKES CHICKEN” and a “MEXICAN STANDOFF” has taking hold. Neither side after stating their positions has really budged. You have to bear in mind, politicians rarely answer questions they state positions and all the major negotiators in the BREXIT from both sides are politicians at source.\r\n\r\nIn the past week both sides have literally regurgitated their positions under the pretext of breaking speeches important to the BREXIT negotiations.\r\n\r\nWill the negotiators meet the October deadline this year for a deal to be ratified by the EU27? The UK BREXIT date is 29<sup>th</sup> March 2019 at 23.00 CET.\r\n\r\nOK, so what has been done apart from both sides expelling a lot of hot air?\r\n\r\nThe EU Withdrawal Bill, which is intended to convert all existing EU laws into UK law to ensure there are no gaps in legislation on BREXIT day, has had two readings in the House of Commons and passed, however, it is now in the House of Lords who have said basically that it needs to be re-written!\r\n\r\nSo that\'s not much progress at all unless the re-writes can find support back in front of MP’s when it is pushed back and amended. It will require a commons committee to co-ordinate amendments. This will make it close to deadline day for signing into law, assuming that the “Lords” like the new wording and can ratify the paper on time and not create delays!\r\n\r\nThe sticking points seem to be only: -\r\n\r\n&nbsp;\r\n<ol>\r\n 	<li>CITIZENS RIGHTS - The ECJ (The European Court of Justice):It’s all about the role it plays in protecting the rights of EU citizens living and working in the UK following BREXIT. The hardline BREXIT MP’s say that regaining sovereignty means removing the UK from the meddling by EU judges. The UK has the same issues for British ex pats living around the EU.This is a biggie. The EU does not want the UK meddling in its courts and vice-versa.</li>\r\n 	<li>The IRISH BORDER:Maybe a little naïve on my part but I thought this would not be a problem when heads were smacked together. I thought “Take a look at Switzerland”; which is not in the EU, you can drive in and out of Switzerland from Germany, France or Italy. There are no hard borders. Am I over simplifying this issue?The trade agreement with Switzerland accommodates NO HARD BORDER.</li>\r\n 	<li>The DIVORCE BILL:The settlement amount to be paid by the UK to exit the EU has varied tremendously depending upon who is talking at the time and from which side of the negotiating table. It is now believed to be in the region €60 Billion (£50 Billion).There are many people who say “BOLLOCKS, the UK has paid enough just walk away”. I hear these comments but from the UK government perspective, the BREXIT bill is really the price to pay for a future trade deal. From the EU perspective it is all about settling past debts (EU Staff pension, loan guarantees and aid scheme contributions such as Syrian refugees etc.)</li>\r\n 	<li>TRADE DEAL &amp; THE CUSTOMS UNION:This is at the centre of the debate at the moment the UK opposition leader Jeremy Corbyn wants a customs union. This basically would keep the UK in a “FREE TRADE ZONE”. Internally, the “zone” is free of tariffs, which are only charged at the “zones” point of entry.By the letter, as far as I can see BREXIT = leaving the customs union. I therefore cannot understand how in the name of sanity Corbyn can adopt such a stance without going against the “will” of the people? On top of this minor point... the EU would view this as pure cherry picking and frankly unrealistic, more like political posturing than anything else.Theresa May outlined a proposal last Friday on trade, confirming the exit of the customs union but proposed having an associate status to charge and forward EU receipts and add any UK costs as items enter the ”zone”. Hmmn...Jeremy Corbyn revisited?\r\n\r\nThis is a massive area not just to get an agreement, but jobs and manufacturing businesses in both the UK and EU rest on this outcome. This will require huge debate between the UK and EU negotiators.</li>\r\n</ol>\r\nNow, there may be more sticking points, but these are the 4 that continue to resonate with me over and over again vis-à-vis the BREXIT negotiations.\r\n\r\nObviously, the UK position is to “Cherry Pick” and the EU position is to ensure the UK does not.\r\n\r\nThe next deadline is October this year, when there is a deadline for the deal to be completed.\r\n\r\nI still have my doubts that this timeline can be agreed. The UK will want a blanket agreement in order that it can have some flexibility in the future, to deal with potential one-off cases that could be missed during the negotiations. The EU has Brussels; Brussels is non-elected, full of expense drive bureaucrats, who’s existence is justified and possibly measured on how many i’s and t’s can be dotted and crossed.\r\n\r\nWe appear to have a “MEXICAN STANDOFF” both sides are more than happy to state their positions. As mentioned earlier, this is what politicians do. Whilst this can be viewing as amusing to some people, the clock is ticking away in the background.\r\n\r\nObviously, both sides will yield some ground in order to get an agreement, what the final draft looks like, who knows at this stage.\r\n\r\nFrom a trading perspective the continued uncertainty is weighing on the GBP but not EUR, which I admit surprises me a little. As I have said of late cross-rates offer the best opportunities and given TRUMP’s latest moves on tariffs, maybe staying away from the USD is also not a bad idea!\r\n\r\n<strong> </strong>\r\n<ol start=\"3\">\r\n 	<li><span style=\"font-size: 14pt;\"><strong>USD SUPPORT and RESISTANCE with my BIAS:</strong></span></li>\r\n</ol>\r\n<strong> <a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2018/03/TCHART-03032018.png\"><img class=\"aligncenter size-large wp-image-11078\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2018/03/TCHART-03032018-1024x894.png\" alt=\"\" width=\"1024\" height=\"894\" /></a></strong>\r\n\r\n<strong> </strong>\r\n<ol start=\"4\">\r\n 	<li><span style=\"font-size: 14pt;\"><strong>THE PREMIUM SERVICE TRADING SUMMARY:</strong></span></li>\r\n</ol>\r\n<u>PREMIUM SERVICE PERFORMANCE YEAR TO DATE:</u>\r\n\r\n(Incorporating the last 5 PREMIUM SERVICE TRADES)\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2018/03/PS-SUMMARY-03032018.png\"><img class=\"aligncenter size-large wp-image-11077\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2018/03/PS-SUMMARY-03032018-1024x869.png\" alt=\"\" width=\"1024\" height=\"869\" /></a>\r\n\r\nYou can get on board and join from as little as CAD$10 for 10 days and then CAD$150.00 per month, currency conversions for CAD$150 are roughly as follows: -\r\n\r\nGBP £90 per month\r\nEUR €100 per month\r\nUSD $120 per month\r\nJPY 12,700 per month\r\nAUD $150 per month\r\n\r\nThis represents a great value way to subscribe…  and a great RISK / REWARD!\r\n\r\nMoving on...\r\n\r\n<a href=\"mailto:d*****@gmail.com\">d*****@gmail.com</a> has won the monthly draw for a FREE 30-DAY subscription to the PREMIUM SERVICE. By the time this blog is posted hopefully he or she will be fully equipped with all the supporting data and ready to receive!\r\n\r\nStill more about THE PREMIUM SERVICE this week...\r\n<p style=\"text-align: center;\">PREMIUM SERVICE – FEBRUARY 2108:\r\nThe PREMIUM SERVICE generated a total of 2,414 net pips, taking the year to date number to 3,892 pips.\r\n78% of trades in February made $$$\r\n22% of trades in February lost $$$\r\nYear to date it\'s a 74% / 26% ratio\r\nIn comparison to 2017, the PREMIUM SERVICE is 3,145 pips ahead of the year to date performance at the same time.</p>\r\nThe spreadsheet below shows you the potential earnings that were made in February and the year to date based upon being a trader who trades single or 5 lots of either MICRO, MINI or STANDARD size.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2018/03/PREMIUM-SERVICE-PERF.-JAN-FEB-2018.jpg\"><img class=\"aligncenter size-large wp-image-11065\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2018/03/PREMIUM-SERVICE-PERF.-JAN-FEB-2018-1024x829.jpg\" alt=\"\" width=\"1024\" height=\"829\" /></a>\r\n\r\nAs you can see from the spreadsheet above ALL types of traders even single micro lot traders would be positive after the first two months this year. Being realistic, I would NOT expect single micro lot traders to benefit much in a full year, but it does show that risking just $0.10 per trade can generate an income.\r\n\r\nFrom a longer-term perspective my thoughts are along the lines that from 5 x micro lots upwards, risking a minimum of just $0.50 cents per trade will generate a small positive income after costs. There are obviously no guarantees with income, I cannot guarantee this and as you know you trade with RISK. However, with managed RISK there are opportunities for micro lot traders.\r\n\r\nMoving up the scale single mini lot ($1.00 per trade) traders and above have since 2014 been able to generate a net income after costs have been applied and although there are still RISKS, again with RISK MANAGEMENT these RISKS can be managed.\r\n\r\nThe bottom line is that since 2014 the PREMIUM SERVICE has been profitable.\r\n\r\nTherefore...\r\n\r\nI am obviously delighted, over the moon, a happy bunny, you use whatever phrase or terminology you prefer but to say that 2018 has started with a bang is the second understatement I have made in this blog so far!\r\n\r\nYou can subscribe for periods as well. Go to my website <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a> for more details under the TAB – “SUBSCRIBE HERE”.\r\n\r\n&nbsp;\r\n\r\n<strong> </strong>\r\n<ol start=\"5\">\r\n 	<li><span style=\"font-size: 14pt;\"><strong>PREMIUM SERVICE SUBSCRIBERS:</strong></span></li>\r\n</ol>\r\n(This section is for PREMIUM SUBSCRIBERS ONLY)\r\n\r\n<u>5.1. TRADING REVIEW:</u>\r\n\r\nFEBRUARY 2018 net PIP TOTAL: 2,414 pips\r\nYEAR TO DATE net PIP TOTAL: 3.892 pips\r\nP+L trades ratio monthly: 78% / 22%\r\nP+L trades year to date ratio: 74% / 26%\r\n\r\nAll trade styles made pips in February and year to date all trade styles are now positive. Next month at the end of Q1 it is my intention to review the mix of trade styles as a percentage of the total.\r\n\r\nYou would have noticed that recently, I have placed trade set ups with both FUNDAMENTAL and MOMENTUM trade options. I am hoping that this will help the subscribers who have requested more flexibility with RISK parameters when adding up all the stop loss contingent liabilities. I am sure you will understand this does increase my RISK, so I cannot do this across the board.\r\n\r\nLooking back over February as a month. The short-term trades (FLASH and RADAR) suffered by way of quantity of trades, I am aware of this and hopefully this will level out as we move forward. My initial goals are obviously RISK, then $$$ and pips, trade style mix is a little down my list.\r\n\r\nLooking back through my excel spreadsheets, the vast majority of trades in February that made pips involved the JPY, NZD and AUD; there were also a number of GBP cross rate trades as well.\r\n\r\n&nbsp;\r\n\r\n<u>5.2. SENTIMENT,</u><u> FUNDAMENTAL &amp; MACRO THOUGHTS</u><u>:</u>\r\n\r\n&nbsp;\r\n\r\nAt the beginning of this blog I listed the following geopolitical event RISK hanging over the market at the moment: -\r\n<ul>\r\n 	<li>ITALIAN ELECTIONS – COALITION PARTNERS UNCERTAINTY</li>\r\n 	<li>GERMANY - SPD PARTY VOTES ON COALITION DEAL with CDU</li>\r\n 	<li>BREXIT – EU &amp; UK IN GAME OF “HIGH STAKES CHICKEN”</li>\r\n 	<li>TRUMP – KICKING OFF A GLOBAL TRADE WAR</li>\r\n 	<li>JEROME POWELL – FED RATE HIKES in 2018</li>\r\n 	<li>S. 10YR YIELDS if BREAK THROUGH 3% sets up 4.5%</li>\r\n 	<li>BOJ – CHANGE IN MONETARY POLICY RE QQE in 2019?</li>\r\n</ul>\r\nPLUS:\r\n<ul>\r\n 	<li>AUD - RBA Rate Statement, Retail Sales, Trade Balance, Current Account and GDP.</li>\r\n 	<li>GBP – Annual Budget Release, Services PMi and Manufacturing Production.</li>\r\n 	<li>USD – ADP, NFP and Average Hourly Earnings.</li>\r\n 	<li>CAD – BOC Rate Statement and Employment Data.</li>\r\n 	<li>JPY – BOJ Monetary Policy Statement and Press Conference.</li>\r\n 	<li>EUR – Rate Statement and Press Conference.</li>\r\n</ul>\r\nIt\'s a big week; without doubt the biggest so far this year.\r\n\r\nThere are no changes to my overall FUNDAMENTAL / MACRO THOUGHTS for 2018.\r\n\r\nI am still bearish the NZD although the AUD/NZD cross rate selling is really affecting my NZD trades at the moment.\r\n\r\nComing out from the background, I am now openly bullish the JPY currency and I am actively shorting JPY pairs across the board. This move is greatly enhanced following Kuroda’s announcement that the BOJ will start to normalize monetary policy next year.\r\n\r\nThe AUD is trading very heavy and there is a strong chance of a larger move lower. This is reinforced with the uncertainty surrounding TRUMP’s tariff promises. This week we should get some flesh on the bone of this policy.\r\n\r\nThe GBP is on hold as I mentioned last week. I do see the GBP moving much higher, but I think that until we see a BREXIT definitive agreement on policy, we are at risk of 100-200 pip drop in the GBP/USD with a knock-on effect into the GBP cross rate pairs.\r\n\r\nThe EUR is annoying. It is very well supported, and I am really annoyed with myself that I took my long trade with the entry of 1.2160 off the table. It was a well thought out level, the pair bounced of lows of 1.2154! ... argh!!!!  For now, I will wait until after the ECB before returning to more EUR trades.\r\n\r\nWith regards to this week, obviously RISK is higher than normal. I will slow down on set ups and starting early in the week I will be reducing RISK across the board.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2018/03/SENTIMENT-03032018.png\"><img class=\"aligncenter size-large wp-image-11079\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2018/03/SENTIMENT-03032018-788x1024.png\" alt=\"\" width=\"788\" height=\"1024\" /></a>\r\n\r\n&nbsp;\r\n\r\n<u>5.3. THE WEEK AHEAD:</u>\r\n\r\n<u>5.3.1. ECONOMIC DATA RELEASES THAT INTEREST ME:</u>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2018/03/ECON-DATA-03032018.png\"><img class=\"aligncenter size-large wp-image-11080\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2018/03/ECON-DATA-03032018-1024x948.png\" alt=\"\" width=\"1024\" height=\"948\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n<u>5.3.2. MY KEY EVENTS ON THIS WEEK’S CALENDAR AND WHY:</u>\r\n\r\nThere are only two events that have my attention this week.\r\n\r\n<u>AUD: Current Account, Retail Sales, RBA Rate Statement and Trade Balance.</u>\r\n\r\nIt\'s a big week for the AUD.\r\n\r\nTrade wise. I am holding and will hold through these events short AUD/USD and long AUD/NZD. I am therefore basically hedged.\r\n\r\n<u>CAD: BOC Rate Decision and Jobs Data.</u>\r\n\r\nI want to be bearish the USD/CAD but with NAFTA and now TRUMP Tariffs on imports hanging over the CAD currency, it may be that I will have to wait a little longer. With these items hanging over the BOC I cannot see with the attached uncertainty that Stephen Poloz will be making changes to the interest rate. The actual statement will be read closely, and the employment numbers will be noted.\r\n\r\nPoloz has openly stated that moves in the CAD are data dependent. I would add that any interest rate move is also TRUMP dependent.\r\n\r\nIt is my intention to have NO CAD exposure ahead of these news items.\r\n\r\n<u>USD: ADP and NFP Employment Data.</u>\r\n\r\nI think that I am adding these news events because one feels as a Forex trader that the biggest monthly news event (NFP) should always be noted. I do not think that this set of jobs data will be vital to influence whether or not the FED raises U.S. interest rates later this month or not, but I do think that it will be important to the voting members of the FED from a forward-looking sentiment perspective.\r\n\r\nI don\'t intend to trade NFP with new positions, just manage existing.\r\n\r\n<u>EUR: ECB Rate Statement and Press Conference.</u>\r\n\r\nWill Mario Draghi open up and offer more detail about the future tapering and interest rate normalization policies for the EUROZONE moving forward?\r\n\r\nMaybe, but probably not, I do NOT expect any forward guidance at all.\r\n\r\nI suspect that he will do whatever he needs to do NOT to rock the boat. He will get the same old questions starting with, when, how much and what happens if? He will swat these away as if holding a tennis racquet chasing a wasp around a picnic table.\r\n\r\nIt is however, the jewel in the crown vis-à-vis the economic data releases this coming week. It can always be a market mover.\r\n\r\nI will have no EUR exposure entering this news event.\r\n\r\n&nbsp;\r\n\r\n<u>5.3.3. HOW I WILL APPROACH and TRADE THE MARKET THIS WEEK:</u>\r\n\r\nI have mentioned this a couple of times already. This is a big week on the horizon, and frankly, to trade this coming week with any gusto is in my mind being bloody stupid.\r\n\r\nAdd together the list of geopolitical events and the economic data releases and it does NOT take a rocket scientist to evaluate the result that to be sidelined may be the best option. My brain is telling me that the market may be more news driven this week than by any fundamentals via economic data and the technical set ups may be ignored in times of high volatility.\r\n\r\nTherefore, my market approach will be caution and restrain.\r\n\r\n<u>\r\n</u><u>5.3.4. MY “MACRO” TRADING PLAN FOR THE WEEK AHEAD:</u>\r\n\r\nIn the background this week, I will be working hard on setting goals / objectives into my TRADE PALN to accommodate my fundamental thoughts moving into Q2 and Q3.\r\n\r\nThe PREMIUM SERVICE is well ahead of its “pip” objective for 2018 and the first two days of March has also produced +488 pips. I do not intend to sit back but I want to have my TRADE PLAN spot on in my mind and on paper to take into account the very recent geopolitical events.\r\n<ol>\r\n 	<li>Add NZD trades when appropriate.\r\nI want to add back NZD/USD and NZD/JPY trades.</li>\r\n 	<li>Plan my targets and approach to the JPY following the BOJ announcement regarding QQE and interest rate normalization. This may need to wait until after the BOJ meeting.\r\nI want to have a plan based now solely on USD/JPY but also some of the cross-rate JPY pairs.</li>\r\n 	<li>Formulate strategies with: -\r\nEUR long for Q2.\r\nAUD short from now through Q2.\r\nCAD short following BOC meeting from now through Q2.</li>\r\n</ol>\r\n<u>5.4. CURRENT LIVE TRADES &amp; LIMIT ORDERS:</u>\r\n\r\n<u>5.4.1. CURRENT LIVE TRADES:</u>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2018/03/LIVE-TRADES-03032018.png\"><img class=\"aligncenter size-large wp-image-11082\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2018/03/LIVE-TRADES-03032018-662x1024.png\" alt=\"\" width=\"662\" height=\"1024\" /></a>\r\n\r\n<u>5.4.2. CURRENT LIMIT ORDER TRADES:</u>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2018/03/LIMIT-ORDERS-03032018.png\"><img class=\"aligncenter size-large wp-image-11081\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2018/03/LIMIT-ORDERS-03032018-718x1024.png\" alt=\"\" width=\"718\" height=\"1024\" /></a>\r\n\r\n<u>5.5. FX BROKER NEWS and MARKET FEEDBACK:</u>\r\n\r\nNothing to report this week. All very quiet on the broker front apart from the continued explosion into trading “Crypto” currencies.\r\n\r\n<strong> </strong>\r\n\r\n<strong> </strong>\r\n<ol start=\"6\">\r\n 	<li><span style=\"font-size: 14pt;\"><strong>THE FINAL SHOT:</strong></span></li>\r\n</ol>\r\nNothing more to add here, I have said enough except,\r\n\r\nAs usual…\r\n\r\nAlways remember longevity in Forex trading can only be achieved through trading with good RISK and MONEY MANAGEMENT, and above all set your position sizes in accordance with the size of your account and allow for some flexibility.\r\n\r\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: #168 PREMIUM SERVICE\r\nDATE: 3<sup>rd</sup> March 2018\r\n\r\n&nbsp;\r\n\r\n&nbsp;', 'BREXIT AT A “MEXICAN STANDOFF”', '', 'publish', 'open', 'closed', '', 'brexit-mexican-standoff', '', '', '2018-03-03 06:43:04', '2018-03-03 11:43:04', '', 0, 'https://weeklyfxdrivethru.com/?post_type=member_posts&#038;p=11083', 0, 'member_posts', '', 0);
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(11084, 1, '2018-03-03 06:23:40', '2018-03-03 11:23:40', '<ol>\r\n 	<li><span style=\"font-size: 14pt;\"><strong>THE FIRST SHOT:</strong></span></li>\r\n</ol>\r\nWelcome to the month of March.\r\n\r\nThe name of the month may have changed but the geopolitical and economic concerns that could send the FX market into either a tailspin or the ultimate short squeeze are still hanging over us like the “Sword of Damocles”.\r\n<ul>\r\n 	<li>ITALIAN ELECTIONS – COALITION PARTNERS UNCERTAINTY</li>\r\n 	<li>GERMANY - SPD PARTY VOTES ON COALITION DEAL with CDU</li>\r\n 	<li>BREXIT – EU &amp; UK IN GAME OF “HIGH STAKES CHICKEN”</li>\r\n 	<li>TRUMP – KICKING OFF A GLOBAL TRADE WAR</li>\r\n 	<li>JEROME POWELL – FED RATE HIKES in 201</li>\r\n 	<li>US 10YR YIELDS if BREAK THROUGH 3% sets up 4.5%</li>\r\n 	<li>BOJ – CHANGE IN MONETARY POLICY RE QQE in 2019?</li>\r\n</ul>\r\nHappy days... It’s all good fun and it ensures that we remain vigilant whilst staring at our trading screens.\r\n\r\nI have often said jokingly to friends that trading Forex one has to “Rub your tummy and scratch your head both at the same time” just to keep up at times, and what fascinates me most about trading currencies is that when you look at the list above, some are currency positive, some are currency negative. It is the inter-market reactions and correlations that keep you on your toes. Even more so at the moment as many correlations are “off” and correlations “do matter” when trading currencies.\r\n\r\nSo, it looks like there will be some fun ahead this week and when you add into the mix a full range of economic data releases as well, such as U.S. Non-Farm Payrolls, ECB Press Conference and Policy decisions, BOJ, RBA and BOC interest rate decisions and Central Bank statements, plus CAD jobs and Trade Balance and AUD Retail Sales, GDP and Trade Balance, it is set up to be a week of potential volatility.\r\n\r\nLet me make a bit of an understatement.... this week is a big week for data and reactions to geopolitical events.... no kidding!\r\n\r\nIf you are new to the FX market, this week could be one to sit back and merely just observe the price action.\r\n\r\nFinally, in this section...\r\n\r\nI think that in the last 12 months I have written or mentioned crypto currencies only once and that was in section 5, which only PREMIUM SERVICE subscribers see. I was asked a question during the week as to why I do not talk about them?\r\n\r\nMy answer is very easy and clear.\r\n\r\nUntil they are fully regulated and safe to trade, I am not interested.\r\n\r\n<strong> </strong>\r\n<ol start=\"2\">\r\n 	<li><span style=\"font-size: 14pt;\"><strong> MARKET OVERVIEW – MY THOUGHTS:</strong></span><strong> </strong></li>\r\n</ol>\r\n<p style=\"text-align: center;\"><span style=\"font-size: 14pt;\"><strong>BREXIT AT A “MEXICAN STANDOFF”</strong></span></p>\r\nNow...\r\n\r\nWithout looking like I have read the book “THE ART OF THE DEAL”, I have to say that UK Prime Minister May’s fourth “APRES BREXIT” speech last Friday ticked lots of the boxes. Whilst the speech was just as much a speech to appeal to Conservative Party unity, it was also conciliatory for the EU in that she did NOT threaten to stamp her feet and walk away.\r\n\r\nWhether you rate Theresa May’s leadership or not, the speech hit every note that needed to be hit. She has to do this in my opinion.... why?\r\n\r\nNothing new here I’m afraid, it’s all to do with BREXIT CONTAGION.\r\n\r\nThe facts are very simple. The EU has as much, if not some would say, more to lose than the UK when the BREXIT finally happens.\r\n\r\nKeeping this very simple and straightforward, both the UK and the EU have lots to lose if they do not maintain equitable trade relations.\r\n\r\nIf the BREXIT agreement is seen as a “GOOD DEAL” to leave the EU, the fear from the EU is that the current EU27 (the number of countries currently members of the EUROPEAN UNION), could reduce to the EU25 or EU22... pick your own number.\r\n\r\nThe EU negotiating team led my Michel Barnier (Presently French Politician, ex. European Commissioner for Internal Market and Services 2010-2014) and supported by the likes of Donald Tusk (currently President of the European council and ex. Prime Minister of Poland) and Jean Claude Junker (President of the European commission and Luxembourg politician), are maintaining a HARD-RED LINE to demonstrate that, leaving the EU should be no “Bed of Roses”.\r\n\r\nThe simple facts are though, from my perspective that since the vote was taken via referendum to leave the EU by the UK voters in June 2016, very little appears to have happened by way of actually leaving.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2018/03/BREXIT-TIMELINE-03032018.png\"><img class=\"aligncenter size-large wp-image-11071\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2018/03/BREXIT-TIMELINE-03032018-985x1024.png\" alt=\"\" width=\"985\" height=\"1024\" /></a>\r\n\r\nFrom the chart above, basically following the trigger of Article 50 in March 2017 (a year ago) from my perspective it’s been a game of “HIGH STAKES CHICKEN” and a “MEXICAN STANDOFF” has taking hold. Neither side after stating their positions has really budged. You have to bear in mind, politicians rarely answer questions they state positions and all the major negotiators in the BREXIT from both sides are politicians at source.\r\n\r\nIn the past week both sides have literally regurgitated their positions under the pretext of breaking speeches important to the BREXIT negotiations.\r\n\r\nWill the negotiators meet the October deadline this year for a deal to be ratified by the EU27? The UK BREXIT date is 29<sup>th</sup> March 2019 at 23.00 CET.\r\n\r\nOK, so what has been done apart from both sides expelling a lot of hot air?\r\n\r\nThe EU Withdrawal Bill, which is intended to convert all existing EU laws into UK law to ensure there are no gaps in legislation on BREXIT day, has had two readings in the House of Commons and passed, however, it is now in the House of Lords who have said basically that it needs to be re-written!\r\n\r\nSo that\'s not much progress at all unless the re-writes can find support back in front of MP’s when it is pushed back and amended. It will require a commons committee to co-ordinate amendments. This will make it close to deadline day for signing into law, assuming that the “Lords” like the new wording and can ratify the paper on time and not create delays!\r\n\r\nThe sticking points seem to be only: -\r\n\r\n&nbsp;\r\n<ol>\r\n 	<li>CITIZENS RIGHTS - The ECJ (The European Court of Justice):\r\n\r\nIt’s all about the role it plays in protecting the rights of EU citizens living and working in the UK following BREXIT. The hardline BREXIT MP’s say that regaining sovereignty means removing the UK from the meddling by EU judges. The UK has the same issues for British ex pats living around the EU.\r\n\r\nThis is a biggie. The EU does not want the UK meddling in its courts and vice-versa.</li>\r\n 	<li>The IRISH BORDER:\r\n\r\nMaybe a little naïve on my part but I thought this would not be a problem when heads were smacked together. I thought “Take a look at Switzerland”; which is not in the EU, you can drive in and out of Switzerland from Germany, France or Italy. There are no hard borders. Am I over simplifying this issue?\r\n\r\nThe trade agreement with Switzerland accommodates NO HARD BORDER.</li>\r\n 	<li>The DIVORCE BILL:\r\n\r\nThe settlement amount to be paid by the UK to exit the EU has varied tremendously depending upon who is talking at the time and from which side of the negotiating table. It is now believed to be in the region €60 Billion (£50 Billion).\r\n\r\nThere are many people who say “BOLLOCKS, the UK has paid enough just walk away”. I hear these comments but from the UK government perspective, the BREXIT bill is really the price to pay for a future trade deal. From the EU perspective it is all about settling past debts (EU Staff pension, loan guarantees and aid scheme contributions such as Syrian refugees etc.)</li>\r\n 	<li>TRADE DEAL &amp; THE CUSTOMS UNION:\r\n\r\nThis is at the centre of the debate at the moment the UK opposition leader Jeremy Corbyn wants a customs union. This basically would keep the UK in a “FREE TRADE ZONE”. Internally, the “zone” is free of tariffs, which are only charged at the “zones” point of entry.\r\n\r\nBy the letter, as far as I can see BREXIT = leaving the customs union. I therefore cannot understand how in the name of sanity Corbyn can adopt such a stance without going against the “will” of the people? On top of this minor point... the EU would view this as pure cherry picking and frankly unrealistic, more like political posturing than anything else.\r\n\r\nTheresa May outlined a proposal last Friday on trade, confirming the exit of the customs union but proposed having an associate status to charge and forward EU receipts and add any UK costs as items enter the ”zone”. Hmmn...Jeremy Corbyn revisited?\r\n\r\nThis is a massive area not just to get an agreement, but jobs and manufacturing businesses in both the UK and EU rest on this outcome. This will require huge debate between the UK and EU negotiators.</li>\r\n</ol>\r\nNow, there may be more sticking points, but these are the 4 that continue to resonate with me over and over again vis-à-vis the BREXIT negotiations.\r\n\r\nObviously, the UK position is to “Cherry Pick” and the EU position is to ensure the UK does not.\r\n\r\nThe next deadline is October this year, when there is a deadline for the deal to be completed.\r\n\r\nI still have my doubts that this timeline can be agreed. The UK will want a blanket agreement in order that it can have some flexibility in the future, to deal with potential one-off cases that could be missed during the negotiations. The EU has Brussels; Brussels is non-elected, full of expense drive bureaucrats, who’s existence is justified and possibly measured on how many i’s and t’s can be dotted and crossed.\r\n\r\nWe appear to have a “MEXICAN STANDOFF” both sides are more than happy to state their positions. As mentioned earlier, this is what politicians do. Whilst this can be viewing as amusing to some people, the clock is ticking away in the background.\r\n\r\nObviously, both sides will yield some ground in order to get an agreement, what the final draft looks like, who knows at this stage.\r\n\r\nFrom a trading perspective the continued uncertainty is weighing on the GBP but not EUR, which I admit surprises me a little. As I have said of late cross-rates offer the best opportunities and given TRUMP’s latest moves on tariffs, maybe staying away from the USD is also not a bad idea!\r\n\r\n<strong> </strong>\r\n<ol start=\"3\">\r\n 	<li><span style=\"font-size: 14pt;\"><strong>USD SUPPORT and RESISTANCE with my BIAS:</strong></span></li>\r\n</ol>\r\n<strong> <a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2018/03/TCHART-03032018.png\"><img class=\"aligncenter size-large wp-image-11078\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2018/03/TCHART-03032018-1024x894.png\" alt=\"\" width=\"1024\" height=\"894\" /></a></strong>\r\n\r\n<strong> </strong>\r\n<ol start=\"4\">\r\n 	<li><span style=\"font-size: 14pt;\"><strong>THE PREMIUM SERVICE TRADING SUMMARY:</strong></span></li>\r\n</ol>\r\n<u>PREMIUM SERVICE PERFORMANCE YEAR TO DATE:</u>\r\n\r\n(Incorporating the last 5 PREMIUM SERVICE TRADES)\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2018/03/PS-SUMMARY-03032018.png\"><img class=\"aligncenter size-large wp-image-11077\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2018/03/PS-SUMMARY-03032018-1024x869.png\" alt=\"\" width=\"1024\" height=\"869\" /></a>\r\n\r\nYou can get on board and join from as little as CAD$10 for 10 days and then CAD$150.00 per month, currency conversions for CAD$150 are roughly as follows: -\r\n\r\nGBP £90 per month\r\nEUR €100 per month\r\nUSD $120 per month\r\nJPY 12,700 per month\r\nAUD $150 per month\r\n\r\nThis represents a great value way to subscribe…  and a great RISK / REWARD!\r\n\r\nMoving on...\r\n\r\n<a href=\"mailto:d*****@gmail.com\">d*****@gmail.com</a> has won the monthly draw for a FREE 30-DAY subscription to the PREMIUM SERVICE. By the time this blog is posted hopefully he or she will be fully equipped with all the supporting data and ready to receive!\r\n\r\nStill more about THE PREMIUM SERVICE this week...\r\n<p style=\"text-align: center;\">PREMIUM SERVICE – FEBRUARY 2108:\r\nThe PREMIUM SERVICE generated a total of 2,414 net pips, taking the year to date number to 3,892 pips.\r\n78% of trades in February made $$$\r\n22% of trades in February lost $$$\r\nYear to date it\'s a 74% / 26% ratio\r\nIn comparison to 2017, the PREMIUM SERVICE is 3,145 pips ahead of the year to date performance at the same time.</p>\r\nThe spreadsheet below shows you the potential earnings that were made in February and the year to date based upon being a trader who trades single or 5 lots of either MICRO, MINI or STANDARD size.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2018/03/PREMIUM-SERVICE-PERF.-JAN-FEB-2018.jpg\"><img class=\"aligncenter size-large wp-image-11065\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2018/03/PREMIUM-SERVICE-PERF.-JAN-FEB-2018-1024x829.jpg\" alt=\"\" width=\"1024\" height=\"829\" /></a>\r\n\r\nAs you can see from the spreadsheet above ALL types of traders even single micro lot traders would be positive after the first two months this year. Being realistic, I would NOT expect single micro lot traders to benefit much in a full year, but it does show that risking just $0.10 per trade can generate an income.\r\n\r\nFrom a longer-term perspective my thoughts are along the lines that from 5 x micro lots upwards, risking a minimum of just $0.50 cents per trade will generate a small positive income after costs. There are obviously no guarantees with income, I cannot guarantee this and as you know you trade with RISK. However, with managed RISK there are opportunities for micro lot traders.\r\n\r\nMoving up the scale single mini lot ($1.00 per trade) traders and above have since 2014 been able to generate a net income after costs have been applied and although there are still RISKS, again with RISK MANAGEMENT these RISKS can be managed.\r\n\r\nThe bottom line is that since 2014 the PREMIUM SERVICE has been profitable.\r\n\r\nTherefore...\r\n\r\nI am obviously delighted, over the moon, a happy bunny, you use whatever phrase or terminology you prefer but to say that 2018 has started with a bang is the second understatement I have made in this blog so far!\r\n\r\nYou can subscribe for periods as well. Go to my website <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a> for more details under the TAB – “SUBSCRIBE HERE”.\r\n\r\n&nbsp;\r\n\r\n<strong> </strong>\r\n<ol start=\"5\">\r\n 	<li><span style=\"font-size: 14pt;\"><strong>PREMIUM SERVICE SUBSCRIBERS:</strong></span></li>\r\n</ol>\r\n(This section is for PREMIUM SUBSCRIBERS ONLY)\r\n\r\n<u>5.1. TRADING REVIEW:</u>\r\n\r\nFEBRUARY 2018 net PIP TOTAL: 2,414 pips\r\nYEAR TO DATE net PIP TOTAL: 3.892 pips\r\nP+L trades ratio monthly: 78% / 22%\r\nP+L trades year to date ratio: 74% / 26%\r\n\r\nAll trade styles made pips in February and year to date all trade styles are now positive. Next month at the end of Q1 it is my intention to review the mix of trade styles as a percentage of the total.\r\n\r\nYou would have noticed that recently, I have placed trade set ups with both FUNDAMENTAL and MOMENTUM trade options. I am hoping that this will help the subscribers who have requested more flexibility with RISK parameters when adding up all the stop loss contingent liabilities. I am sure you will understand this does increase my RISK, so I cannot do this across the board.\r\n\r\nLooking back over February as a month. The short-term trades (FLASH and RADAR) suffered by way of quantity of trades, I am aware of this and hopefully this will level out as we move forward. My initial goals are obviously RISK, then $$$ and pips, trade style mix is a little down my list.\r\n\r\nLooking back through my excel spreadsheets, the vast majority of trades in February that made pips involved the JPY, NZD and AUD; there were also a number of GBP cross rate trades as well.\r\n\r\n&nbsp;\r\n\r\n<u>5.2. SENTIMENT,</u><u> FUNDAMENTAL &amp; MACRO THOUGHTS</u><u>:\r\n\r\n</u>\r\n\r\nAt the beginning of this blog I listed the following geopolitical event RISK hanging over the market at the moment: -\r\n<ul>\r\n 	<li>ITALIAN ELECTIONS – COALITION PARTNERS UNCERTAINTY</li>\r\n 	<li>GERMANY - SPD PARTY VOTES ON COALITION DEAL with CDU</li>\r\n 	<li>BREXIT – EU &amp; UK IN GAME OF “HIGH STAKES CHICKEN”</li>\r\n 	<li>TRUMP – KICKING OFF A GLOBAL TRADE WAR</li>\r\n 	<li>JEROME POWELL – FED RATE HIKES in 2018</li>\r\n 	<li>S. 10YR YIELDS if BREAK THROUGH 3% sets up 4.5%</li>\r\n 	<li>BOJ – CHANGE IN MONETARY POLICY RE QQE in 2019?</li>\r\n</ul>\r\nPLUS:\r\n<ul>\r\n 	<li>AUD - RBA Rate Statement, Retail Sales, Trade Balance, Current Account and GDP.</li>\r\n 	<li>GBP – Annual Budget Release, Services PMi and Manufacturing Production.</li>\r\n 	<li>USD – ADP, NFP and Average Hourly Earnings.</li>\r\n 	<li>CAD – BOC Rate Statement and Employment Data.</li>\r\n 	<li>JPY – BOJ Monetary Policy Statement and Press Conference.</li>\r\n 	<li>EUR – Rate Statement and Press Conference.</li>\r\n</ul>\r\nIt\'s a big week; without doubt the biggest so far this year.\r\n\r\nThere are no changes to my overall FUNDAMENTAL / MACRO THOUGHTS for 2018.\r\n\r\nI am still bearish the NZD although the AUD/NZD cross rate selling is really affecting my NZD trades at the moment.\r\n\r\nComing out from the background, I am now openly bullish the JPY currency and I am actively shorting JPY pairs across the board. This move is greatly enhanced following Kuroda’s announcement that the BOJ will start to normalize monetary policy next year.\r\n\r\nThe AUD is trading very heavy and there is a strong chance of a larger move lower. This is reinforced with the uncertainty surrounding TRUMP’s tariff promises. This week we should get some flesh on the bone of this policy.\r\n\r\nThe GBP is on hold as I mentioned last week. I do see the GBP moving much higher, but I think that until we see a BREXIT definitive agreement on policy, we are at risk of 100-200 pip drop in the GBP/USD with a knock-on effect into the GBP cross rate pairs.\r\n\r\nThe EUR is annoying. It is very well supported, and I am really annoyed with myself that I took my long trade with the entry of 1.2160 off the table. It was a well thought out level, the pair bounced of lows of 1.2154! ... argh!!!!  For now, I will wait until after the ECB before returning to more EUR trades.\r\n\r\nWith regards to this week, obviously RISK is higher than normal. I will slow down on set ups and starting early in the week I will be reducing RISK across the board.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2018/03/SENTIMENT-03032018.png\"><img class=\"aligncenter size-large wp-image-11079\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2018/03/SENTIMENT-03032018-788x1024.png\" alt=\"\" width=\"788\" height=\"1024\" /></a>\r\n\r\n&nbsp;\r\n\r\n<u>5.3. THE WEEK AHEAD:</u>\r\n\r\n<u>5.3.1. ECONOMIC DATA RELEASES THAT INTEREST ME:</u>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2018/03/ECON-DATA-03032018.png\"><img class=\"aligncenter size-large wp-image-11080\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2018/03/ECON-DATA-03032018-1024x948.png\" alt=\"\" width=\"1024\" height=\"948\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n<u>5.3.2. MY KEY EVENTS ON THIS WEEK’S CALENDAR AND WHY:</u>\r\n\r\nThere are only two events that have my attention this week.\r\n\r\n<u>AUD: Current Account, Retail Sales, RBA Rate Statement and Trade Balance.</u>\r\n\r\nIt\'s a big week for the AUD.\r\n\r\nTrade wise. I am holding and will hold through these events short AUD/USD and long AUD/NZD. I am therefore basically hedged.\r\n\r\n<u>CAD: BOC Rate Decision and Jobs Data.</u>\r\n\r\nI want to be bearish the USD/CAD but with NAFTA and now TRUMP Tariffs on imports hanging over the CAD currency, it may be that I will have to wait a little longer. With these items hanging over the BOC I cannot see with the attached uncertainty that Stephen Poloz will be making changes to the interest rate. The actual statement will be read closely, and the employment numbers will be noted.\r\n\r\nPoloz has openly stated that moves in the CAD are data dependent. I would add that any interest rate move is also TRUMP dependent.\r\n\r\nIt is my intention to have NO CAD exposure ahead of these news items.\r\n\r\n<u>USD: ADP and NFP Employment Data.</u>\r\n\r\nI think that I am adding these news events because one feels as a Forex trader that the biggest monthly news event (NFP) should always be noted. I do not think that this set of jobs data will be vital to influence whether or not the FED raises U.S. interest rates later this month or not, but I do think that it will be important to the voting members of the FED from a forward-looking sentiment perspective.\r\n\r\nI don\'t intend to trade NFP with new positions, just manage existing.\r\n\r\n<u>EUR: ECB Rate Statement and Press Conference.</u>\r\n\r\nWill Mario Draghi open up and offer more detail about the future tapering and interest rate normalization policies for the EUROZONE moving forward?\r\n\r\nMaybe, but probably not, I do NOT expect any forward guidance at all.\r\n\r\nI suspect that he will do whatever he needs to do NOT to rock the boat. He will get the same old questions starting with, when, how much and what happens if? He will swat these away as if holding a tennis racquet chasing a wasp around a picnic table.\r\n\r\nIt is however, the jewel in the crown vis-à-vis the economic data releases this coming week. It can always be a market mover.\r\n\r\nI will have no EUR exposure entering this news event.\r\n\r\n&nbsp;\r\n\r\n<u>5.3.3. HOW I WILL APPROACH and TRADE THE MARKET THIS WEEK:</u>\r\n\r\nI have mentioned this a couple of times already. This is a big week on the horizon, and frankly, to trade this coming week with any gusto is in my mind being bloody stupid.\r\n\r\nAdd together the list of geopolitical events and the economic data releases and it does NOT take a rocket scientist to evaluate the result that to be sidelined may be the best option. My brain is telling me that the market may be more news driven this week than by any fundamentals via economic data and the technical set ups may be ignored in times of high volatility.\r\n\r\nTherefore, my market approach will be caution and restrain.\r\n\r\n<u>\r\n</u><u>5.3.4. MY “MACRO” TRADING PLAN FOR THE WEEK AHEAD:</u>\r\n\r\nIn the background this week, I will be working hard on setting goals / objectives into my TRADE PALN to accommodate my fundamental thoughts moving into Q2 and Q3.\r\n\r\nThe PREMIUM SERVICE is well ahead of its “pip” objective for 2018 and the first two days of March has also produced +488 pips. I do not intend to sit back but I want to have my TRADE PLAN spot on in my mind and on paper to take into account the very recent geopolitical events.\r\n<ol>\r\n 	<li>Add NZD trades when appropriate.\r\nI want to add back NZD/USD and NZD/JPY trades.</li>\r\n 	<li>Plan my targets and approach to the JPY following the BOJ announcement regarding QQE and interest rate normalization. This may need to wait until after the BOJ meeting.\r\nI want to have a plan based now solely on USD/JPY but also some of the cross-rate JPY pairs.</li>\r\n 	<li>Formulate strategies with: -\r\nEUR long for Q2.\r\nAUD short from now through Q2.\r\nCAD short following BOC meeting from now through Q2.</li>\r\n</ol>\r\n<u>5.4. CURRENT LIVE TRADES &amp; LIMIT ORDERS:</u>\r\n\r\n<u>5.4.1. CURRENT LIVE TRADES:\r\n\r\n</u>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2018/03/LIVE-TRADES-03032018.png\"><img class=\"aligncenter size-large wp-image-11082\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2018/03/LIVE-TRADES-03032018-662x1024.png\" alt=\"\" width=\"662\" height=\"1024\" /></a>\r\n\r\n<u>5.4.2. CURRENT LIMIT ORDER TRADES:</u>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2018/03/LIMIT-ORDERS-03032018.png\"><img class=\"aligncenter size-large wp-image-11081\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2018/03/LIMIT-ORDERS-03032018-718x1024.png\" alt=\"\" width=\"718\" height=\"1024\" /></a>\r\n\r\n<u>5.6. FX BROKER NEWS and MARKET FEEDBACK:</u>\r\n\r\nNothing to report this week. All very quiet on the broker front apart from the continued explosion into trading “Crypto” currencies.\r\n\r\n<strong> </strong>\r\n\r\n<strong> </strong>\r\n<ol start=\"6\">\r\n 	<li><span style=\"font-size: 14pt;\"><strong>THE FINAL SHOT:</strong></span></li>\r\n</ol>\r\nNothing more to add here, I have said enough except,\r\n\r\nAs usual…\r\n\r\nAlways remember longevity in Forex trading can only be achieved through trading with good RISK and MONEY MANAGEMENT, and above all set your position sizes in accordance with the size of your account and allow for some flexibility.\r\n\r\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: #168 PREMIUM SERVICE\r\nDATE: 3<sup>rd</sup> March 2018\r\n\r\n<strong>\r\n\r\n</strong>', 'BREXIT AT A “MEXICAN STANDOFF”', '', 'inherit', 'closed', 'closed', '', '11083-revision-v1', '', '', '2018-03-03 06:23:40', '2018-03-03 11:23:40', '', 11083, 'https://weeklyfxdrivethru.com/11083-revision-v1/', 0, 'revision', '', 0);
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(11085, 1, '2018-03-03 06:24:25', '2018-03-03 11:24:25', '<ol>\r\n 	<li><span style=\"font-size: 14pt;\"><strong>THE FIRST SHOT:</strong></span></li>\r\n</ol>\r\nWelcome to the month of March.\r\n\r\nThe name of the month may have changed but the geopolitical and economic concerns that could send the FX market into either a tailspin or the ultimate short squeeze are still hanging over us like the “Sword of Damocles”.\r\n<ul>\r\n 	<li>ITALIAN ELECTIONS – COALITION PARTNERS UNCERTAINTY</li>\r\n 	<li>GERMANY - SPD PARTY VOTES ON COALITION DEAL with CDU</li>\r\n 	<li>BREXIT – EU &amp; UK IN GAME OF “HIGH STAKES CHICKEN”</li>\r\n 	<li>TRUMP – KICKING OFF A GLOBAL TRADE WAR</li>\r\n 	<li>JEROME POWELL – FED RATE HIKES in 201</li>\r\n 	<li>US 10YR YIELDS if BREAK THROUGH 3% sets up 4.5%</li>\r\n 	<li>BOJ – CHANGE IN MONETARY POLICY RE QQE in 2019?</li>\r\n</ul>\r\nHappy days... It’s all good fun and it ensures that we remain vigilant whilst staring at our trading screens.\r\n\r\nI have often said jokingly to friends that trading Forex one has to “Rub your tummy and scratch your head both at the same time” just to keep up at times, and what fascinates me most about trading currencies is that when you look at the list above, some are currency positive, some are currency negative. It is the inter-market reactions and correlations that keep you on your toes. Even more so at the moment as many correlations are “off” and correlations “do matter” when trading currencies.\r\n\r\nSo, it looks like there will be some fun ahead this week and when you add into the mix a full range of economic data releases as well, such as U.S. Non-Farm Payrolls, ECB Press Conference and Policy decisions, BOJ, RBA and BOC interest rate decisions and Central Bank statements, plus CAD jobs and Trade Balance and AUD Retail Sales, GDP and Trade Balance, it is set up to be a week of potential volatility.\r\n\r\nLet me make a bit of an understatement.... this week is a big week for data and reactions to geopolitical events.... no kidding!\r\n\r\nIf you are new to the FX market, this week could be one to sit back and merely just observe the price action.\r\n\r\nFinally, in this section...\r\n\r\nI think that in the last 12 months I have written or mentioned crypto currencies only once and that was in section 5, which only PREMIUM SERVICE subscribers see. I was asked a question during the week as to why I do not talk about them?\r\n\r\nMy answer is very easy and clear.\r\n\r\nUntil they are fully regulated and safe to trade, I am not interested.\r\n\r\n<strong> </strong>\r\n<ol start=\"2\">\r\n 	<li><span style=\"font-size: 14pt;\"><strong> MARKET OVERVIEW – MY THOUGHTS:</strong></span><strong> </strong></li>\r\n</ol>\r\n<p style=\"text-align: center;\"><span style=\"font-size: 14pt;\"><strong>BREXIT AT A “MEXICAN STANDOFF”</strong></span></p>\r\nNow...\r\n\r\nWithout looking like I have read the book “THE ART OF THE DEAL”, I have to say that UK Prime Minister May’s fourth “APRES BREXIT” speech last Friday ticked lots of the boxes. Whilst the speech was just as much a speech to appeal to Conservative Party unity, it was also conciliatory for the EU in that she did NOT threaten to stamp her feet and walk away.\r\n\r\nWhether you rate Theresa May’s leadership or not, the speech hit every note that needed to be hit. She has to do this in my opinion.... why?\r\n\r\nNothing new here I’m afraid, it’s all to do with BREXIT CONTAGION.\r\n\r\nThe facts are very simple. The EU has as much, if not some would say, more to lose than the UK when the BREXIT finally happens.\r\n\r\nKeeping this very simple and straightforward, both the UK and the EU have lots to lose if they do not maintain equitable trade relations.\r\n\r\nIf the BREXIT agreement is seen as a “GOOD DEAL” to leave the EU, the fear from the EU is that the current EU27 (the number of countries currently members of the EUROPEAN UNION), could reduce to the EU25 or EU22... pick your own number.\r\n\r\nThe EU negotiating team led my Michel Barnier (Presently French Politician, ex. European Commissioner for Internal Market and Services 2010-2014) and supported by the likes of Donald Tusk (currently President of the European council and ex. Prime Minister of Poland) and Jean Claude Junker (President of the European commission and Luxembourg politician), are maintaining a HARD-RED LINE to demonstrate that, leaving the EU should be no “Bed of Roses”.\r\n\r\nThe simple facts are though, from my perspective that since the vote was taken via referendum to leave the EU by the UK voters in June 2016, very little appears to have happened by way of actually leaving.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2018/03/BREXIT-TIMELINE-03032018.png\"><img class=\"aligncenter size-large wp-image-11071\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2018/03/BREXIT-TIMELINE-03032018-985x1024.png\" alt=\"\" width=\"985\" height=\"1024\" /></a>\r\n\r\nFrom the chart above, basically following the trigger of Article 50 in March 2017 (a year ago) from my perspective it’s been a game of “HIGH STAKES CHICKEN” and a “MEXICAN STANDOFF” has taking hold. Neither side after stating their positions has really budged. You have to bear in mind, politicians rarely answer questions they state positions and all the major negotiators in the BREXIT from both sides are politicians at source.\r\n\r\nIn the past week both sides have literally regurgitated their positions under the pretext of breaking speeches important to the BREXIT negotiations.\r\n\r\nWill the negotiators meet the October deadline this year for a deal to be ratified by the EU27? The UK BREXIT date is 29<sup>th</sup> March 2019 at 23.00 CET.\r\n\r\nOK, so what has been done apart from both sides expelling a lot of hot air?\r\n\r\nThe EU Withdrawal Bill, which is intended to convert all existing EU laws into UK law to ensure there are no gaps in legislation on BREXIT day, has had two readings in the House of Commons and passed, however, it is now in the House of Lords who have said basically that it needs to be re-written!\r\n\r\nSo that\'s not much progress at all unless the re-writes can find support back in front of MP’s when it is pushed back and amended. It will require a commons committee to co-ordinate amendments. This will make it close to deadline day for signing into law, assuming that the “Lords” like the new wording and can ratify the paper on time and not create delays!\r\n\r\nThe sticking points seem to be only: -\r\n\r\n&nbsp;\r\n<ol>\r\n 	<li>CITIZENS RIGHTS - The ECJ (The European Court of Justice):It’s all about the role it plays in protecting the rights of EU citizens living and working in the UK following BREXIT. The hardline BREXIT MP’s say that regaining sovereignty means removing the UK from the meddling by EU judges. The UK has the same issues for British ex pats living around the EU.\r\n\r\nThis is a biggie. The EU does not want the UK meddling in its courts and vice-versa.</li>\r\n 	<li>The IRISH BORDER:Maybe a little naïve on my part but I thought this would not be a problem when heads were smacked together. I thought “Take a look at Switzerland”; which is not in the EU, you can drive in and out of Switzerland from Germany, France or Italy. There are no hard borders. Am I over simplifying this issue?\r\n\r\nThe trade agreement with Switzerland accommodates NO HARD BORDER.</li>\r\n 	<li>The DIVORCE BILL:The settlement amount to be paid by the UK to exit the EU has varied tremendously depending upon who is talking at the time and from which side of the negotiating table. It is now believed to be in the region €60 Billion (£50 Billion).\r\n\r\nThere are many people who say “BOLLOCKS, the UK has paid enough just walk away”. I hear these comments but from the UK government perspective, the BREXIT bill is really the price to pay for a future trade deal. From the EU perspective it is all about settling past debts (EU Staff pension, loan guarantees and aid scheme contributions such as Syrian refugees etc.)</li>\r\n 	<li>TRADE DEAL &amp; THE CUSTOMS UNION:This is at the centre of the debate at the moment the UK opposition leader Jeremy Corbyn wants a customs union. This basically would keep the UK in a “FREE TRADE ZONE”. Internally, the “zone” is free of tariffs, which are only charged at the “zones” point of entry.\r\n\r\nBy the letter, as far as I can see BREXIT = leaving the customs union. I therefore cannot understand how in the name of sanity Corbyn can adopt such a stance without going against the “will” of the people? On top of this minor point... the EU would view this as pure cherry picking and frankly unrealistic, more like political posturing than anything else.\r\n\r\nTheresa May outlined a proposal last Friday on trade, confirming the exit of the customs union but proposed having an associate status to charge and forward EU receipts and add any UK costs as items enter the ”zone”. Hmmn...Jeremy Corbyn revisited?\r\n\r\nThis is a massive area not just to get an agreement, but jobs and manufacturing businesses in both the UK and EU rest on this outcome. This will require huge debate between the UK and EU negotiators.</li>\r\n</ol>\r\nNow, there may be more sticking points, but these are the 4 that continue to resonate with me over and over again vis-à-vis the BREXIT negotiations.\r\n\r\nObviously, the UK position is to “Cherry Pick” and the EU position is to ensure the UK does not.\r\n\r\nThe next deadline is October this year, when there is a deadline for the deal to be completed.\r\n\r\nI still have my doubts that this timeline can be agreed. The UK will want a blanket agreement in order that it can have some flexibility in the future, to deal with potential one-off cases that could be missed during the negotiations. The EU has Brussels; Brussels is non-elected, full of expense drive bureaucrats, who’s existence is justified and possibly measured on how many i’s and t’s can be dotted and crossed.\r\n\r\nWe appear to have a “MEXICAN STANDOFF” both sides are more than happy to state their positions. As mentioned earlier, this is what politicians do. Whilst this can be viewing as amusing to some people, the clock is ticking away in the background.\r\n\r\nObviously, both sides will yield some ground in order to get an agreement, what the final draft looks like, who knows at this stage.\r\n\r\nFrom a trading perspective the continued uncertainty is weighing on the GBP but not EUR, which I admit surprises me a little. As I have said of late cross-rates offer the best opportunities and given TRUMP’s latest moves on tariffs, maybe staying away from the USD is also not a bad idea!\r\n\r\n<strong> </strong>\r\n<ol start=\"3\">\r\n 	<li><span style=\"font-size: 14pt;\"><strong>USD SUPPORT and RESISTANCE with my BIAS:</strong></span></li>\r\n</ol>\r\n<strong> <a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2018/03/TCHART-03032018.png\"><img class=\"aligncenter size-large wp-image-11078\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2018/03/TCHART-03032018-1024x894.png\" alt=\"\" width=\"1024\" height=\"894\" /></a></strong>\r\n\r\n<strong> </strong>\r\n<ol start=\"4\">\r\n 	<li><span style=\"font-size: 14pt;\"><strong>THE PREMIUM SERVICE TRADING SUMMARY:</strong></span></li>\r\n</ol>\r\n<u>PREMIUM SERVICE PERFORMANCE YEAR TO DATE:</u>\r\n\r\n(Incorporating the last 5 PREMIUM SERVICE TRADES)\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2018/03/PS-SUMMARY-03032018.png\"><img class=\"aligncenter size-large wp-image-11077\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2018/03/PS-SUMMARY-03032018-1024x869.png\" alt=\"\" width=\"1024\" height=\"869\" /></a>\r\n\r\nYou can get on board and join from as little as CAD$10 for 10 days and then CAD$150.00 per month, currency conversions for CAD$150 are roughly as follows: -\r\n\r\nGBP £90 per month\r\nEUR €100 per month\r\nUSD $120 per month\r\nJPY 12,700 per month\r\nAUD $150 per month\r\n\r\nThis represents a great value way to subscribe…  and a great RISK / REWARD!\r\n\r\nMoving on...\r\n\r\n<a href=\"mailto:d*****@gmail.com\">d*****@gmail.com</a> has won the monthly draw for a FREE 30-DAY subscription to the PREMIUM SERVICE. By the time this blog is posted hopefully he or she will be fully equipped with all the supporting data and ready to receive!\r\n\r\nStill more about THE PREMIUM SERVICE this week...\r\n<p style=\"text-align: center;\">PREMIUM SERVICE – FEBRUARY 2108:\r\nThe PREMIUM SERVICE generated a total of 2,414 net pips, taking the year to date number to 3,892 pips.\r\n78% of trades in February made $$$\r\n22% of trades in February lost $$$\r\nYear to date it\'s a 74% / 26% ratio\r\nIn comparison to 2017, the PREMIUM SERVICE is 3,145 pips ahead of the year to date performance at the same time.</p>\r\nThe spreadsheet below shows you the potential earnings that were made in February and the year to date based upon being a trader who trades single or 5 lots of either MICRO, MINI or STANDARD size.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2018/03/PREMIUM-SERVICE-PERF.-JAN-FEB-2018.jpg\"><img class=\"aligncenter size-large wp-image-11065\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2018/03/PREMIUM-SERVICE-PERF.-JAN-FEB-2018-1024x829.jpg\" alt=\"\" width=\"1024\" height=\"829\" /></a>\r\n\r\nAs you can see from the spreadsheet above ALL types of traders even single micro lot traders would be positive after the first two months this year. Being realistic, I would NOT expect single micro lot traders to benefit much in a full year, but it does show that risking just $0.10 per trade can generate an income.\r\n\r\nFrom a longer-term perspective my thoughts are along the lines that from 5 x micro lots upwards, risking a minimum of just $0.50 cents per trade will generate a small positive income after costs. There are obviously no guarantees with income, I cannot guarantee this and as you know you trade with RISK. However, with managed RISK there are opportunities for micro lot traders.\r\n\r\nMoving up the scale single mini lot ($1.00 per trade) traders and above have since 2014 been able to generate a net income after costs have been applied and although there are still RISKS, again with RISK MANAGEMENT these RISKS can be managed.\r\n\r\nThe bottom line is that since 2014 the PREMIUM SERVICE has been profitable.\r\n\r\nTherefore...\r\n\r\nI am obviously delighted, over the moon, a happy bunny, you use whatever phrase or terminology you prefer but to say that 2018 has started with a bang is the second understatement I have made in this blog so far!\r\n\r\nYou can subscribe for periods as well. Go to my website <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a> for more details under the TAB – “SUBSCRIBE HERE”.\r\n\r\n&nbsp;\r\n\r\n<strong> </strong>\r\n<ol start=\"5\">\r\n 	<li><span style=\"font-size: 14pt;\"><strong>PREMIUM SERVICE SUBSCRIBERS:</strong></span></li>\r\n</ol>\r\n(This section is for PREMIUM SUBSCRIBERS ONLY)\r\n\r\n<u>5.1. TRADING REVIEW:</u>\r\n\r\nFEBRUARY 2018 net PIP TOTAL: 2,414 pips\r\nYEAR TO DATE net PIP TOTAL: 3.892 pips\r\nP+L trades ratio monthly: 78% / 22%\r\nP+L trades year to date ratio: 74% / 26%\r\n\r\nAll trade styles made pips in February and year to date all trade styles are now positive. Next month at the end of Q1 it is my intention to review the mix of trade styles as a percentage of the total.\r\n\r\nYou would have noticed that recently, I have placed trade set ups with both FUNDAMENTAL and MOMENTUM trade options. I am hoping that this will help the subscribers who have requested more flexibility with RISK parameters when adding up all the stop loss contingent liabilities. I am sure you will understand this does increase my RISK, so I cannot do this across the board.\r\n\r\nLooking back over February as a month. The short-term trades (FLASH and RADAR) suffered by way of quantity of trades, I am aware of this and hopefully this will level out as we move forward. My initial goals are obviously RISK, then $$$ and pips, trade style mix is a little down my list.\r\n\r\nLooking back through my excel spreadsheets, the vast majority of trades in February that made pips involved the JPY, NZD and AUD; there were also a number of GBP cross rate trades as well.\r\n\r\n&nbsp;\r\n\r\n<u>5.2. SENTIMENT,</u><u> FUNDAMENTAL &amp; MACRO THOUGHTS</u><u>:</u>\r\n\r\n&nbsp;\r\n\r\nAt the beginning of this blog I listed the following geopolitical event RISK hanging over the market at the moment: -\r\n<ul>\r\n 	<li>ITALIAN ELECTIONS – COALITION PARTNERS UNCERTAINTY</li>\r\n 	<li>GERMANY - SPD PARTY VOTES ON COALITION DEAL with CDU</li>\r\n 	<li>BREXIT – EU &amp; UK IN GAME OF “HIGH STAKES CHICKEN”</li>\r\n 	<li>TRUMP – KICKING OFF A GLOBAL TRADE WAR</li>\r\n 	<li>JEROME POWELL – FED RATE HIKES in 2018</li>\r\n 	<li>S. 10YR YIELDS if BREAK THROUGH 3% sets up 4.5%</li>\r\n 	<li>BOJ – CHANGE IN MONETARY POLICY RE QQE in 2019?</li>\r\n</ul>\r\nPLUS:\r\n<ul>\r\n 	<li>AUD - RBA Rate Statement, Retail Sales, Trade Balance, Current Account and GDP.</li>\r\n 	<li>GBP – Annual Budget Release, Services PMi and Manufacturing Production.</li>\r\n 	<li>USD – ADP, NFP and Average Hourly Earnings.</li>\r\n 	<li>CAD – BOC Rate Statement and Employment Data.</li>\r\n 	<li>JPY – BOJ Monetary Policy Statement and Press Conference.</li>\r\n 	<li>EUR – Rate Statement and Press Conference.</li>\r\n</ul>\r\nIt\'s a big week; without doubt the biggest so far this year.\r\n\r\nThere are no changes to my overall FUNDAMENTAL / MACRO THOUGHTS for 2018.\r\n\r\nI am still bearish the NZD although the AUD/NZD cross rate selling is really affecting my NZD trades at the moment.\r\n\r\nComing out from the background, I am now openly bullish the JPY currency and I am actively shorting JPY pairs across the board. This move is greatly enhanced following Kuroda’s announcement that the BOJ will start to normalize monetary policy next year.\r\n\r\nThe AUD is trading very heavy and there is a strong chance of a larger move lower. This is reinforced with the uncertainty surrounding TRUMP’s tariff promises. This week we should get some flesh on the bone of this policy.\r\n\r\nThe GBP is on hold as I mentioned last week. I do see the GBP moving much higher, but I think that until we see a BREXIT definitive agreement on policy, we are at risk of 100-200 pip drop in the GBP/USD with a knock-on effect into the GBP cross rate pairs.\r\n\r\nThe EUR is annoying. It is very well supported, and I am really annoyed with myself that I took my long trade with the entry of 1.2160 off the table. It was a well thought out level, the pair bounced of lows of 1.2154! ... argh!!!!  For now, I will wait until after the ECB before returning to more EUR trades.\r\n\r\nWith regards to this week, obviously RISK is higher than normal. I will slow down on set ups and starting early in the week I will be reducing RISK across the board.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2018/03/SENTIMENT-03032018.png\"><img class=\"aligncenter size-large wp-image-11079\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2018/03/SENTIMENT-03032018-788x1024.png\" alt=\"\" width=\"788\" height=\"1024\" /></a>\r\n\r\n&nbsp;\r\n\r\n<u>5.3. THE WEEK AHEAD:</u>\r\n\r\n<u>5.3.1. ECONOMIC DATA RELEASES THAT INTEREST ME:</u>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2018/03/ECON-DATA-03032018.png\"><img class=\"aligncenter size-large wp-image-11080\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2018/03/ECON-DATA-03032018-1024x948.png\" alt=\"\" width=\"1024\" height=\"948\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n<u>5.3.2. MY KEY EVENTS ON THIS WEEK’S CALENDAR AND WHY:</u>\r\n\r\nThere are only two events that have my attention this week.\r\n\r\n<u>AUD: Current Account, Retail Sales, RBA Rate Statement and Trade Balance.</u>\r\n\r\nIt\'s a big week for the AUD.\r\n\r\nTrade wise. I am holding and will hold through these events short AUD/USD and long AUD/NZD. I am therefore basically hedged.\r\n\r\n<u>CAD: BOC Rate Decision and Jobs Data.</u>\r\n\r\nI want to be bearish the USD/CAD but with NAFTA and now TRUMP Tariffs on imports hanging over the CAD currency, it may be that I will have to wait a little longer. With these items hanging over the BOC I cannot see with the attached uncertainty that Stephen Poloz will be making changes to the interest rate. The actual statement will be read closely, and the employment numbers will be noted.\r\n\r\nPoloz has openly stated that moves in the CAD are data dependent. I would add that any interest rate move is also TRUMP dependent.\r\n\r\nIt is my intention to have NO CAD exposure ahead of these news items.\r\n\r\n<u>USD: ADP and NFP Employment Data.</u>\r\n\r\nI think that I am adding these news events because one feels as a Forex trader that the biggest monthly news event (NFP) should always be noted. I do not think that this set of jobs data will be vital to influence whether or not the FED raises U.S. interest rates later this month or not, but I do think that it will be important to the voting members of the FED from a forward-looking sentiment perspective.\r\n\r\nI don\'t intend to trade NFP with new positions, just manage existing.\r\n\r\n<u>EUR: ECB Rate Statement and Press Conference.</u>\r\n\r\nWill Mario Draghi open up and offer more detail about the future tapering and interest rate normalization policies for the EUROZONE moving forward?\r\n\r\nMaybe, but probably not, I do NOT expect any forward guidance at all.\r\n\r\nI suspect that he will do whatever he needs to do NOT to rock the boat. He will get the same old questions starting with, when, how much and what happens if? He will swat these away as if holding a tennis racquet chasing a wasp around a picnic table.\r\n\r\nIt is however, the jewel in the crown vis-à-vis the economic data releases this coming week. It can always be a market mover.\r\n\r\nI will have no EUR exposure entering this news event.\r\n\r\n&nbsp;\r\n\r\n<u>5.3.3. HOW I WILL APPROACH and TRADE THE MARKET THIS WEEK:</u>\r\n\r\nI have mentioned this a couple of times already. This is a big week on the horizon, and frankly, to trade this coming week with any gusto is in my mind being bloody stupid.\r\n\r\nAdd together the list of geopolitical events and the economic data releases and it does NOT take a rocket scientist to evaluate the result that to be sidelined may be the best option. My brain is telling me that the market may be more news driven this week than by any fundamentals via economic data and the technical set ups may be ignored in times of high volatility.\r\n\r\nTherefore, my market approach will be caution and restrain.\r\n\r\n<u>\r\n</u><u>5.3.4. MY “MACRO” TRADING PLAN FOR THE WEEK AHEAD:</u>\r\n\r\nIn the background this week, I will be working hard on setting goals / objectives into my TRADE PALN to accommodate my fundamental thoughts moving into Q2 and Q3.\r\n\r\nThe PREMIUM SERVICE is well ahead of its “pip” objective for 2018 and the first two days of March has also produced +488 pips. I do not intend to sit back but I want to have my TRADE PLAN spot on in my mind and on paper to take into account the very recent geopolitical events.\r\n<ol>\r\n 	<li>Add NZD trades when appropriate.\r\nI want to add back NZD/USD and NZD/JPY trades.</li>\r\n 	<li>Plan my targets and approach to the JPY following the BOJ announcement regarding QQE and interest rate normalization. This may need to wait until after the BOJ meeting.\r\nI want to have a plan based now solely on USD/JPY but also some of the cross-rate JPY pairs.</li>\r\n 	<li>Formulate strategies with: -\r\nEUR long for Q2.\r\nAUD short from now through Q2.\r\nCAD short following BOC meeting from now through Q2.</li>\r\n</ol>\r\n<u>5.4. CURRENT LIVE TRADES &amp; LIMIT ORDERS:</u>\r\n\r\n<u>5.4.1. CURRENT LIVE TRADES:</u>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2018/03/LIVE-TRADES-03032018.png\"><img class=\"aligncenter size-large wp-image-11082\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2018/03/LIVE-TRADES-03032018-662x1024.png\" alt=\"\" width=\"662\" height=\"1024\" /></a>\r\n\r\n<u>5.4.2. CURRENT LIMIT ORDER TRADES:</u>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2018/03/LIMIT-ORDERS-03032018.png\"><img class=\"aligncenter size-large wp-image-11081\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2018/03/LIMIT-ORDERS-03032018-718x1024.png\" alt=\"\" width=\"718\" height=\"1024\" /></a>\r\n\r\n<u>5.6. FX BROKER NEWS and MARKET FEEDBACK:</u>\r\n\r\nNothing to report this week. All very quiet on the broker front apart from the continued explosion into trading “Crypto” currencies.\r\n\r\n<strong> </strong>\r\n\r\n<strong> </strong>\r\n<ol start=\"6\">\r\n 	<li><span style=\"font-size: 14pt;\"><strong>THE FINAL SHOT:</strong></span></li>\r\n</ol>\r\nNothing more to add here, I have said enough except,\r\n\r\nAs usual…\r\n\r\nAlways remember longevity in Forex trading can only be achieved through trading with good RISK and MONEY MANAGEMENT, and above all set your position sizes in accordance with the size of your account and allow for some flexibility.\r\n\r\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: #168 PREMIUM SERVICE\r\nDATE: 3<sup>rd</sup> March 2018\r\n\r\n&nbsp;\r\n\r\n&nbsp;', 'BREXIT AT A “MEXICAN STANDOFF”', '', 'inherit', 'closed', 'closed', '', '11083-revision-v1', '', '', '2018-03-03 06:24:25', '2018-03-03 11:24:25', '', 11083, 'https://weeklyfxdrivethru.com/11083-revision-v1/', 0, 'revision', '', 0);
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(11086, 1, '2018-03-03 06:29:48', '2018-03-03 11:29:48', '<ol>\r\n 	<li><span style=\"font-size: 14pt;\"><strong>THE FIRST SHOT:</strong></span></li>\r\n</ol>\r\nWelcome to the month of March.\r\n\r\nThe name of the month may have changed but the geopolitical and economic concerns that could send the FX market into either a tailspin or the ultimate short squeeze are still hanging over us like the “Sword of Damocles”.\r\n<ul>\r\n 	<li>ITALIAN ELECTIONS – COALITION PARTNERS UNCERTAINTY</li>\r\n 	<li>GERMANY - SPD PARTY VOTES ON COALITION DEAL with CDU</li>\r\n 	<li>BREXIT – EU &amp; UK IN GAME OF “HIGH STAKES CHICKEN”</li>\r\n 	<li>TRUMP – KICKING OFF A GLOBAL TRADE WAR</li>\r\n 	<li>JEROME POWELL – FED RATE HIKES in 201</li>\r\n 	<li>US 10YR YIELDS if BREAK THROUGH 3% sets up 4.5%</li>\r\n 	<li>BOJ – CHANGE IN MONETARY POLICY RE QQE in 2019?</li>\r\n</ul>\r\nHappy days... It’s all good fun and it ensures that we remain vigilant whilst staring at our trading screens.\r\n\r\nI have often said jokingly to friends that trading Forex one has to “Rub your tummy and scratch your head both at the same time” just to keep up at times, and what fascinates me most about trading currencies is that when you look at the list above, some are currency positive, some are currency negative. It is the inter-market reactions and correlations that keep you on your toes. Even more so at the moment as many correlations are “off” and correlations “do matter” when trading currencies.\r\n\r\nSo, it looks like there will be some fun ahead this week and when you add into the mix a full range of economic data releases as well, such as U.S. Non-Farm Payrolls, ECB Press Conference and Policy decisions, BOJ, RBA and BOC interest rate decisions and Central Bank statements, plus CAD jobs and Trade Balance and AUD Retail Sales, GDP and Trade Balance, it is set up to be a week of potential volatility.\r\n\r\nLet me make a bit of an understatement.... this week is a big week for data and reactions to geopolitical events.... no kidding!\r\n\r\nIf you are new to the FX market, this week could be one to sit back and merely just observe the price action.\r\n\r\nFinally, in this section...\r\n\r\nI think that in the last 12 months I have written or mentioned crypto currencies only once and that was in section 5, which only PREMIUM SERVICE subscribers see. I was asked a question during the week as to why I do not talk about them?\r\n\r\nMy answer is very easy and clear.\r\n\r\nUntil they are fully regulated and safe to trade, I am not interested.\r\n\r\n<strong> </strong>\r\n<ol start=\"2\">\r\n 	<li><span style=\"font-size: 14pt;\"><strong> MARKET OVERVIEW – MY THOUGHTS:</strong></span><strong> </strong></li>\r\n</ol>\r\n<p style=\"text-align: center;\"><span style=\"font-size: 14pt;\"><strong>BREXIT AT A “MEXICAN STANDOFF”</strong></span></p>\r\nNow...\r\n\r\nWithout looking like I have read the book “THE ART OF THE DEAL”, I have to say that UK Prime Minister May’s fourth “APRES BREXIT” speech last Friday ticked lots of the boxes. Whilst the speech was just as much a speech to appeal to Conservative Party unity, it was also conciliatory for the EU in that she did NOT threaten to stamp her feet and walk away.\r\n\r\nWhether you rate Theresa May’s leadership or not, the speech hit every note that needed to be hit. She has to do this in my opinion.... why?\r\n\r\nNothing new here I’m afraid, it’s all to do with BREXIT CONTAGION.\r\n\r\nThe facts are very simple. The EU has as much, if not some would say, more to lose than the UK when the BREXIT finally happens.\r\n\r\nKeeping this very simple and straightforward, both the UK and the EU have lots to lose if they do not maintain equitable trade relations.\r\n\r\nIf the BREXIT agreement is seen as a “GOOD DEAL” to leave the EU, the fear from the EU is that the current EU27 (the number of countries currently members of the EUROPEAN UNION), could reduce to the EU25 or EU22... pick your own number.\r\n\r\nThe EU negotiating team led my Michel Barnier (Presently French Politician, ex. European Commissioner for Internal Market and Services 2010-2014) and supported by the likes of Donald Tusk (currently President of the European council and ex. Prime Minister of Poland) and Jean Claude Junker (President of the European commission and Luxembourg politician), are maintaining a HARD-RED LINE to demonstrate that, leaving the EU should be no “Bed of Roses”.\r\n\r\nThe simple facts are though, from my perspective that since the vote was taken via referendum to leave the EU by the UK voters in June 2016, very little appears to have happened by way of actually leaving.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2018/03/BREXIT-TIMELINE-03032018.png\"><img class=\"aligncenter size-large wp-image-11071\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2018/03/BREXIT-TIMELINE-03032018-985x1024.png\" alt=\"\" width=\"985\" height=\"1024\" /></a>\r\n\r\nFrom the chart above, basically following the trigger of Article 50 in March 2017 (a year ago) from my perspective it’s been a game of “HIGH STAKES CHICKEN” and a “MEXICAN STANDOFF” has taking hold. Neither side after stating their positions has really budged. You have to bear in mind, politicians rarely answer questions they state positions and all the major negotiators in the BREXIT from both sides are politicians at source.\r\n\r\nIn the past week both sides have literally regurgitated their positions under the pretext of breaking speeches important to the BREXIT negotiations.\r\n\r\nWill the negotiators meet the October deadline this year for a deal to be ratified by the EU27? The UK BREXIT date is 29<sup>th</sup> March 2019 at 23.00 CET.\r\n\r\nOK, so what has been done apart from both sides expelling a lot of hot air?\r\n\r\nThe EU Withdrawal Bill, which is intended to convert all existing EU laws into UK law to ensure there are no gaps in legislation on BREXIT day, has had two readings in the House of Commons and passed, however, it is now in the House of Lords who have said basically that it needs to be re-written!\r\n\r\nSo that\'s not much progress at all unless the re-writes can find support back in front of MP’s when it is pushed back and amended. It will require a commons committee to co-ordinate amendments. This will make it close to deadline day for signing into law, assuming that the “Lords” like the new wording and can ratify the paper on time and not create delays!\r\n\r\nThe sticking points seem to be only: -\r\n\r\n&nbsp;\r\n<ol>\r\n 	<li>CITIZENS RIGHTS - The ECJ (The European Court of Justice):It’s all about the role it plays in protecting the rights of EU citizens living and working in the UK following BREXIT. The hardline BREXIT MP’s say that regaining sovereignty means removing the UK from the meddling by EU judges. The UK has the same issues for British ex pats living around the EU.This is a biggie. The EU does not want the UK meddling in its courts and vice-versa.</li>\r\n 	<li>The IRISH BORDER:Maybe a little naïve on my part but I thought this would not be a problem when heads were smacked together. I thought “Take a look at Switzerland”; which is not in the EU, you can drive in and out of Switzerland from Germany, France or Italy. There are no hard borders. Am I over simplifying this issue?The trade agreement with Switzerland accommodates NO HARD BORDER.</li>\r\n 	<li>The DIVORCE BILL:The settlement amount to be paid by the UK to exit the EU has varied tremendously depending upon who is talking at the time and from which side of the negotiating table. It is now believed to be in the region €60 Billion (£50 Billion).There are many people who say “BOLLOCKS, the UK has paid enough just walk away”. I hear these comments but from the UK government perspective, the BREXIT bill is really the price to pay for a future trade deal. From the EU perspective it is all about settling past debts (EU Staff pension, loan guarantees and aid scheme contributions such as Syrian refugees etc.)</li>\r\n 	<li>TRADE DEAL &amp; THE CUSTOMS UNION:This is at the centre of the debate at the moment the UK opposition leader Jeremy Corbyn wants a customs union. This basically would keep the UK in a “FREE TRADE ZONE”. Internally, the “zone” is free of tariffs, which are only charged at the “zones” point of entry.By the letter, as far as I can see BREXIT = leaving the customs union. I therefore cannot understand how in the name of sanity Corbyn can adopt such a stance without going against the “will” of the people? On top of this minor point... the EU would view this as pure cherry picking and frankly unrealistic, more like political posturing than anything else.\r\n\r\nTheresa May outlined a proposal last Friday on trade, confirming the exit of the customs union but proposed having an associate status to charge and forward EU receipts and add any UK costs as items enter the ”zone”. Hmmn...Jeremy Corbyn revisited?\r\n\r\nThis is a massive area not just to get an agreement, but jobs and manufacturing businesses in both the UK and EU rest on this outcome. This will require huge debate between the UK and EU negotiators.</li>\r\n</ol>\r\nNow, there may be more sticking points, but these are the 4 that continue to resonate with me over and over again vis-à-vis the BREXIT negotiations.\r\n\r\nObviously, the UK position is to “Cherry Pick” and the EU position is to ensure the UK does not.\r\n\r\nThe next deadline is October this year, when there is a deadline for the deal to be completed.\r\n\r\nI still have my doubts that this timeline can be agreed. The UK will want a blanket agreement in order that it can have some flexibility in the future, to deal with potential one-off cases that could be missed during the negotiations. The EU has Brussels; Brussels is non-elected, full of expense drive bureaucrats, who’s existence is justified and possibly measured on how many i’s and t’s can be dotted and crossed.\r\n\r\nWe appear to have a “MEXICAN STANDOFF” both sides are more than happy to state their positions. As mentioned earlier, this is what politicians do. Whilst this can be viewing as amusing to some people, the clock is ticking away in the background.\r\n\r\nObviously, both sides will yield some ground in order to get an agreement, what the final draft looks like, who knows at this stage.\r\n\r\nFrom a trading perspective the continued uncertainty is weighing on the GBP but not EUR, which I admit surprises me a little. As I have said of late cross-rates offer the best opportunities and given TRUMP’s latest moves on tariffs, maybe staying away from the USD is also not a bad idea!\r\n\r\n<strong> </strong>\r\n<ol start=\"3\">\r\n 	<li><span style=\"font-size: 14pt;\"><strong>USD SUPPORT and RESISTANCE with my BIAS:</strong></span></li>\r\n</ol>\r\n<strong> <a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2018/03/TCHART-03032018.png\"><img class=\"aligncenter size-large wp-image-11078\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2018/03/TCHART-03032018-1024x894.png\" alt=\"\" width=\"1024\" height=\"894\" /></a></strong>\r\n\r\n<strong> </strong>\r\n<ol start=\"4\">\r\n 	<li><span style=\"font-size: 14pt;\"><strong>THE PREMIUM SERVICE TRADING SUMMARY:</strong></span></li>\r\n</ol>\r\n<u>PREMIUM SERVICE PERFORMANCE YEAR TO DATE:</u>\r\n\r\n(Incorporating the last 5 PREMIUM SERVICE TRADES)\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2018/03/PS-SUMMARY-03032018.png\"><img class=\"aligncenter size-large wp-image-11077\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2018/03/PS-SUMMARY-03032018-1024x869.png\" alt=\"\" width=\"1024\" height=\"869\" /></a>\r\n\r\nYou can get on board and join from as little as CAD$10 for 10 days and then CAD$150.00 per month, currency conversions for CAD$150 are roughly as follows: -\r\n\r\nGBP £90 per month\r\nEUR €100 per month\r\nUSD $120 per month\r\nJPY 12,700 per month\r\nAUD $150 per month\r\n\r\nThis represents a great value way to subscribe…  and a great RISK / REWARD!\r\n\r\nMoving on...\r\n\r\n<a href=\"mailto:d*****@gmail.com\">d*****@gmail.com</a> has won the monthly draw for a FREE 30-DAY subscription to the PREMIUM SERVICE. By the time this blog is posted hopefully he or she will be fully equipped with all the supporting data and ready to receive!\r\n\r\nStill more about THE PREMIUM SERVICE this week...\r\n<p style=\"text-align: center;\">PREMIUM SERVICE – FEBRUARY 2108:\r\nThe PREMIUM SERVICE generated a total of 2,414 net pips, taking the year to date number to 3,892 pips.\r\n78% of trades in February made $$$\r\n22% of trades in February lost $$$\r\nYear to date it\'s a 74% / 26% ratio\r\nIn comparison to 2017, the PREMIUM SERVICE is 3,145 pips ahead of the year to date performance at the same time.</p>\r\nThe spreadsheet below shows you the potential earnings that were made in February and the year to date based upon being a trader who trades single or 5 lots of either MICRO, MINI or STANDARD size.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2018/03/PREMIUM-SERVICE-PERF.-JAN-FEB-2018.jpg\"><img class=\"aligncenter size-large wp-image-11065\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2018/03/PREMIUM-SERVICE-PERF.-JAN-FEB-2018-1024x829.jpg\" alt=\"\" width=\"1024\" height=\"829\" /></a>\r\n\r\nAs you can see from the spreadsheet above ALL types of traders even single micro lot traders would be positive after the first two months this year. Being realistic, I would NOT expect single micro lot traders to benefit much in a full year, but it does show that risking just $0.10 per trade can generate an income.\r\n\r\nFrom a longer-term perspective my thoughts are along the lines that from 5 x micro lots upwards, risking a minimum of just $0.50 cents per trade will generate a small positive income after costs. There are obviously no guarantees with income, I cannot guarantee this and as you know you trade with RISK. However, with managed RISK there are opportunities for micro lot traders.\r\n\r\nMoving up the scale single mini lot ($1.00 per trade) traders and above have since 2014 been able to generate a net income after costs have been applied and although there are still RISKS, again with RISK MANAGEMENT these RISKS can be managed.\r\n\r\nThe bottom line is that since 2014 the PREMIUM SERVICE has been profitable.\r\n\r\nTherefore...\r\n\r\nI am obviously delighted, over the moon, a happy bunny, you use whatever phrase or terminology you prefer but to say that 2018 has started with a bang is the second understatement I have made in this blog so far!\r\n\r\nYou can subscribe for periods as well. Go to my website <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a> for more details under the TAB – “SUBSCRIBE HERE”.\r\n\r\n&nbsp;\r\n\r\n<strong> </strong>\r\n<ol start=\"5\">\r\n 	<li><span style=\"font-size: 14pt;\"><strong>PREMIUM SERVICE SUBSCRIBERS:</strong></span></li>\r\n</ol>\r\n(This section is for PREMIUM SUBSCRIBERS ONLY)\r\n\r\n<u>5.1. TRADING REVIEW:</u>\r\n\r\nFEBRUARY 2018 net PIP TOTAL: 2,414 pips\r\nYEAR TO DATE net PIP TOTAL: 3.892 pips\r\nP+L trades ratio monthly: 78% / 22%\r\nP+L trades year to date ratio: 74% / 26%\r\n\r\nAll trade styles made pips in February and year to date all trade styles are now positive. Next month at the end of Q1 it is my intention to review the mix of trade styles as a percentage of the total.\r\n\r\nYou would have noticed that recently, I have placed trade set ups with both FUNDAMENTAL and MOMENTUM trade options. I am hoping that this will help the subscribers who have requested more flexibility with RISK parameters when adding up all the stop loss contingent liabilities. I am sure you will understand this does increase my RISK, so I cannot do this across the board.\r\n\r\nLooking back over February as a month. The short-term trades (FLASH and RADAR) suffered by way of quantity of trades, I am aware of this and hopefully this will level out as we move forward. My initial goals are obviously RISK, then $$$ and pips, trade style mix is a little down my list.\r\n\r\nLooking back through my excel spreadsheets, the vast majority of trades in February that made pips involved the JPY, NZD and AUD; there were also a number of GBP cross rate trades as well.\r\n\r\n&nbsp;\r\n\r\n<u>5.2. SENTIMENT,</u><u> FUNDAMENTAL &amp; MACRO THOUGHTS</u><u>:</u>\r\n\r\n&nbsp;\r\n\r\nAt the beginning of this blog I listed the following geopolitical event RISK hanging over the market at the moment: -\r\n<ul>\r\n 	<li>ITALIAN ELECTIONS – COALITION PARTNERS UNCERTAINTY</li>\r\n 	<li>GERMANY - SPD PARTY VOTES ON COALITION DEAL with CDU</li>\r\n 	<li>BREXIT – EU &amp; UK IN GAME OF “HIGH STAKES CHICKEN”</li>\r\n 	<li>TRUMP – KICKING OFF A GLOBAL TRADE WAR</li>\r\n 	<li>JEROME POWELL – FED RATE HIKES in 2018</li>\r\n 	<li>S. 10YR YIELDS if BREAK THROUGH 3% sets up 4.5%</li>\r\n 	<li>BOJ – CHANGE IN MONETARY POLICY RE QQE in 2019?</li>\r\n</ul>\r\nPLUS:\r\n<ul>\r\n 	<li>AUD - RBA Rate Statement, Retail Sales, Trade Balance, Current Account and GDP.</li>\r\n 	<li>GBP – Annual Budget Release, Services PMi and Manufacturing Production.</li>\r\n 	<li>USD – ADP, NFP and Average Hourly Earnings.</li>\r\n 	<li>CAD – BOC Rate Statement and Employment Data.</li>\r\n 	<li>JPY – BOJ Monetary Policy Statement and Press Conference.</li>\r\n 	<li>EUR – Rate Statement and Press Conference.</li>\r\n</ul>\r\nIt\'s a big week; without doubt the biggest so far this year.\r\n\r\nThere are no changes to my overall FUNDAMENTAL / MACRO THOUGHTS for 2018.\r\n\r\nI am still bearish the NZD although the AUD/NZD cross rate selling is really affecting my NZD trades at the moment.\r\n\r\nComing out from the background, I am now openly bullish the JPY currency and I am actively shorting JPY pairs across the board. This move is greatly enhanced following Kuroda’s announcement that the BOJ will start to normalize monetary policy next year.\r\n\r\nThe AUD is trading very heavy and there is a strong chance of a larger move lower. This is reinforced with the uncertainty surrounding TRUMP’s tariff promises. This week we should get some flesh on the bone of this policy.\r\n\r\nThe GBP is on hold as I mentioned last week. I do see the GBP moving much higher, but I think that until we see a BREXIT definitive agreement on policy, we are at risk of 100-200 pip drop in the GBP/USD with a knock-on effect into the GBP cross rate pairs.\r\n\r\nThe EUR is annoying. It is very well supported, and I am really annoyed with myself that I took my long trade with the entry of 1.2160 off the table. It was a well thought out level, the pair bounced of lows of 1.2154! ... argh!!!!  For now, I will wait until after the ECB before returning to more EUR trades.\r\n\r\nWith regards to this week, obviously RISK is higher than normal. I will slow down on set ups and starting early in the week I will be reducing RISK across the board.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2018/03/SENTIMENT-03032018.png\"><img class=\"aligncenter size-large wp-image-11079\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2018/03/SENTIMENT-03032018-788x1024.png\" alt=\"\" width=\"788\" height=\"1024\" /></a>\r\n\r\n&nbsp;\r\n\r\n<u>5.3. THE WEEK AHEAD:</u>\r\n\r\n<u>5.3.1. ECONOMIC DATA RELEASES THAT INTEREST ME:</u>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2018/03/ECON-DATA-03032018.png\"><img class=\"aligncenter size-large wp-image-11080\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2018/03/ECON-DATA-03032018-1024x948.png\" alt=\"\" width=\"1024\" height=\"948\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n<u>5.3.2. MY KEY EVENTS ON THIS WEEK’S CALENDAR AND WHY:</u>\r\n\r\nThere are only two events that have my attention this week.\r\n\r\n<u>AUD: Current Account, Retail Sales, RBA Rate Statement and Trade Balance.</u>\r\n\r\nIt\'s a big week for the AUD.\r\n\r\nTrade wise. I am holding and will hold through these events short AUD/USD and long AUD/NZD. I am therefore basically hedged.\r\n\r\n<u>CAD: BOC Rate Decision and Jobs Data.</u>\r\n\r\nI want to be bearish the USD/CAD but with NAFTA and now TRUMP Tariffs on imports hanging over the CAD currency, it may be that I will have to wait a little longer. With these items hanging over the BOC I cannot see with the attached uncertainty that Stephen Poloz will be making changes to the interest rate. The actual statement will be read closely, and the employment numbers will be noted.\r\n\r\nPoloz has openly stated that moves in the CAD are data dependent. I would add that any interest rate move is also TRUMP dependent.\r\n\r\nIt is my intention to have NO CAD exposure ahead of these news items.\r\n\r\n<u>USD: ADP and NFP Employment Data.</u>\r\n\r\nI think that I am adding these news events because one feels as a Forex trader that the biggest monthly news event (NFP) should always be noted. I do not think that this set of jobs data will be vital to influence whether or not the FED raises U.S. interest rates later this month or not, but I do think that it will be important to the voting members of the FED from a forward-looking sentiment perspective.\r\n\r\nI don\'t intend to trade NFP with new positions, just manage existing.\r\n\r\n<u>EUR: ECB Rate Statement and Press Conference.</u>\r\n\r\nWill Mario Draghi open up and offer more detail about the future tapering and interest rate normalization policies for the EUROZONE moving forward?\r\n\r\nMaybe, but probably not, I do NOT expect any forward guidance at all.\r\n\r\nI suspect that he will do whatever he needs to do NOT to rock the boat. He will get the same old questions starting with, when, how much and what happens if? He will swat these away as if holding a tennis racquet chasing a wasp around a picnic table.\r\n\r\nIt is however, the jewel in the crown vis-à-vis the economic data releases this coming week. It can always be a market mover.\r\n\r\nI will have no EUR exposure entering this news event.\r\n\r\n&nbsp;\r\n\r\n<u>5.3.3. HOW I WILL APPROACH and TRADE THE MARKET THIS WEEK:</u>\r\n\r\nI have mentioned this a couple of times already. This is a big week on the horizon, and frankly, to trade this coming week with any gusto is in my mind being bloody stupid.\r\n\r\nAdd together the list of geopolitical events and the economic data releases and it does NOT take a rocket scientist to evaluate the result that to be sidelined may be the best option. My brain is telling me that the market may be more news driven this week than by any fundamentals via economic data and the technical set ups may be ignored in times of high volatility.\r\n\r\nTherefore, my market approach will be caution and restrain.\r\n\r\n<u>\r\n</u><u>5.3.4. MY “MACRO” TRADING PLAN FOR THE WEEK AHEAD:</u>\r\n\r\nIn the background this week, I will be working hard on setting goals / objectives into my TRADE PALN to accommodate my fundamental thoughts moving into Q2 and Q3.\r\n\r\nThe PREMIUM SERVICE is well ahead of its “pip” objective for 2018 and the first two days of March has also produced +488 pips. I do not intend to sit back but I want to have my TRADE PLAN spot on in my mind and on paper to take into account the very recent geopolitical events.\r\n<ol>\r\n 	<li>Add NZD trades when appropriate.\r\nI want to add back NZD/USD and NZD/JPY trades.</li>\r\n 	<li>Plan my targets and approach to the JPY following the BOJ announcement regarding QQE and interest rate normalization. This may need to wait until after the BOJ meeting.\r\nI want to have a plan based now solely on USD/JPY but also some of the cross-rate JPY pairs.</li>\r\n 	<li>Formulate strategies with: -\r\nEUR long for Q2.\r\nAUD short from now through Q2.\r\nCAD short following BOC meeting from now through Q2.</li>\r\n</ol>\r\n<u>5.4. CURRENT LIVE TRADES &amp; LIMIT ORDERS:</u>\r\n\r\n<u>5.4.1. CURRENT LIVE TRADES:</u>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2018/03/LIVE-TRADES-03032018.png\"><img class=\"aligncenter size-large wp-image-11082\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2018/03/LIVE-TRADES-03032018-662x1024.png\" alt=\"\" width=\"662\" height=\"1024\" /></a>\r\n\r\n<u>5.4.2. CURRENT LIMIT ORDER TRADES:</u>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2018/03/LIMIT-ORDERS-03032018.png\"><img class=\"aligncenter size-large wp-image-11081\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2018/03/LIMIT-ORDERS-03032018-718x1024.png\" alt=\"\" width=\"718\" height=\"1024\" /></a>\r\n\r\n<u>5.5. FX BROKER NEWS and MARKET FEEDBACK:</u>\r\n\r\nNothing to report this week. All very quiet on the broker front apart from the continued explosion into trading “Crypto” currencies.\r\n\r\n<strong> </strong>\r\n\r\n<strong> </strong>\r\n<ol start=\"6\">\r\n 	<li><span style=\"font-size: 14pt;\"><strong>THE FINAL SHOT:</strong></span></li>\r\n</ol>\r\nNothing more to add here, I have said enough except,\r\n\r\nAs usual…\r\n\r\nAlways remember longevity in Forex trading can only be achieved through trading with good RISK and MONEY MANAGEMENT, and above all set your position sizes in accordance with the size of your account and allow for some flexibility.\r\n\r\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: #168 PREMIUM SERVICE\r\nDATE: 3<sup>rd</sup> March 2018\r\n\r\n&nbsp;\r\n\r\n&nbsp;', 'BREXIT AT A “MEXICAN STANDOFF”', '', 'inherit', 'closed', 'closed', '', '11083-revision-v1', '', '', '2018-03-03 06:29:48', '2018-03-03 11:29:48', '', 11083, 'https://weeklyfxdrivethru.com/11083-revision-v1/', 0, 'revision', '', 0),
(11087, 1, '2018-03-03 06:48:45', '2018-03-03 11:48:45', '&nbsp;\r\n<ol>\r\n 	<li><span style=\"font-size: 14pt;\"><strong> THE FIRST SHOT:</strong></span></li>\r\n</ol>\r\nWelcome to the month of March.\r\n\r\nThe name of the month may have changed but the geopolitical and economic concerns that could send the FX market into either a tailspin or the ultimate short squeeze are still hanging over us like the “Sword of Damocles”.\r\n<ul>\r\n 	<li>ITALIAN ELECTIONS – COALITION PARTNERS UNCERTAINTY</li>\r\n 	<li>GERMANY - SPD PARTY VOTES ON COALITION DEAL with CDU</li>\r\n 	<li>BREXIT – EU &amp; UK IN GAME OF “HIGH STAKES CHICKEN”</li>\r\n 	<li>TRUMP – KICKING OFF A GLOBAL TRADE WAR</li>\r\n 	<li>JEROME POWELL – FED RATE HIKES in 2018</li>\r\n 	<li>US 10YR YIELDS if BREAK THROUGH 3% sets up 4.5%</li>\r\n 	<li>BOJ – CHANGE IN MONETARY POLICY RE QQE in 2019?</li>\r\n</ul>\r\nHappy days... It’s all good fun and it ensures that we remain vigilant whilst staring at our trading screens.\r\n\r\nI have often said jokingly to friends that trading Forex one has to “Rub your tummy and scratch your head both at the same time” just to keep up at times, and what fascinates me most about trading currencies is that when you look at the list above, some are currency positive, some are currency negative. It is the inter-market reactions and correlations that keep you on your toes. Even more so at the moment as many correlations are “off” and correlations “do matter” when trading currencies.\r\n\r\nSo, it looks like there will be some fun ahead this week and when you add into the mix a full range of economic data releases as well, such as U.S. Non-Farm Payrolls, ECB Press Conference and Policy decisions, BOJ, RBA and BOC interest rate decisions and Central Bank statements, plus CAD jobs and Trade Balance and AUD Retail Sales, GDP and Trade Balance, it is set up to be a week of potential volatility.\r\n\r\nLet me make a bit of an understatement.... this week is a big week for data and reactions to geopolitical events.... no kidding!\r\n\r\nIf you are new to the FX market, this week could be one to sit back and merely just observe the price action.\r\n\r\nFinally, in this section...\r\n\r\nI think that in the last 12 months I have written or mentioned crypto currencies only once and that was in section 5, which only PREMIUM SERVICE subscribers see. I was asked a question during the week as to why I do not talk about them?\r\n\r\nMy answer is very easy and clear.\r\n\r\nUntil they are fully regulated and safe to trade, I am not interested.\r\n\r\n<strong> </strong>\r\n<ol start=\"2\">\r\n 	<li><span style=\"font-size: 14pt;\"><strong> MARKET OVERVIEW – MY THOUGHTS:</strong></span><strong> </strong></li>\r\n</ol>\r\n<p style=\"text-align: center;\"><span style=\"font-size: 14pt;\"><strong>BREXIT AT A “MEXICAN STANDOFF”</strong></span></p>\r\nNow...\r\n\r\nWithout looking like I have read the book “THE ART OF THE DEAL”, I have to say that UK Prime Minister May’s fourth “APRES BREXIT” speech last Friday ticked lots of the boxes. Whilst the speech was just as much a speech to appeal to Conservative Party unity, it was also conciliatory for the EU in that she did NOT threaten to stamp her feet and walk away.\r\n\r\nWhether you rate Theresa May’s leadership or not, the speech hit every note that needed to be hit. She has to do this in my opinion.... why?\r\n\r\nNothing new here I’m afraid, it’s all to do with BREXIT CONTAGION.\r\n\r\nThe facts are very simple. The EU has as much, if not some would say, more to lose than the UK when the BREXIT finally happens.\r\n\r\nKeeping this very simple and straightforward, both the UK and the EU have lots to lose if they do not maintain equitable trade relations.\r\n\r\nIf the BREXIT agreement is seen as a “GOOD DEAL” to leave the EU, the fear from the EU is that the current EU27 (the number of countries currently members of the EUROPEAN UNION), could reduce to the EU25 or EU22... pick your own number.\r\n\r\nThe EU negotiating team led my Michel Barnier (Presently French Politician, ex. European Commissioner for Internal Market and Services 2010-2014) and supported by the likes of Donald Tusk (currently President of the European council and ex. Prime Minister of Poland) and Jean Claude Junker (President of the European commission and Luxembourg politician), are maintaining a HARD-RED LINE to demonstrate that, leaving the EU should be no “Bed of Roses”.\r\n\r\nThe simple facts are though, from my perspective that since the vote was taken via referendum to leave the EU by the UK voters in June 2016, very little appears to have happened by way of actually leaving.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2018/03/BREXIT-TIMELINE-03032018.png\"><img class=\"aligncenter size-large wp-image-11071\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2018/03/BREXIT-TIMELINE-03032018-985x1024.png\" alt=\"\" width=\"985\" height=\"1024\" /></a>\r\n\r\n&nbsp;\r\n\r\nFrom the chart above, basically following the trigger of Article 50 in March 2017 (a year ago) from my perspective it’s been a game of “HIGH STAKES CHICKEN” and a “MEXICAN STANDOFF” has taking hold. Neither side after stating their positions has really budged. You have to bear in mind, politicians rarely answer questions they state positions and all the major negotiators in the BREXIT from both sides are politicians at source.\r\n\r\nIn the past week both sides have literally regurgitated their positions under the pretext of breaking speeches important to the BREXIT negotiations.\r\n\r\nWill the negotiators meet the October deadline this year for a deal to be ratified by the EU27? The UK BREXIT date is 29<sup>th</sup> March 2019 at 23.00 CET.\r\n\r\nOK, so what has been done apart from both sides expelling a lot of hot air?\r\n\r\nThe EU Withdrawal Bill, which is intended to convert all existing EU laws into UK law to ensure there are no gaps in legislation on BREXIT day, has had two readings in the House of Commons and passed, however, it is now in the House of Lords who have said basically that it needs to be re-written!\r\n\r\nSo that\'s not much progress at all unless the re-writes can find support back in front of MP’s when it is pushed back and amended. It will require a commons committee to co-ordinate amendments. This will make it close to deadline day for signing into law, assuming that the “Lords” like the new wording and can ratify the paper on time and not create delays!\r\n\r\nThe sticking points seem to be only: -\r\n<ol>\r\n 	<li>CITIZENS RIGHTS - The ECJ (The European Court of Justice):It’s all about the role it plays in protecting the rights of EU citizens living and working in the UK following BREXIT. The hardline BREXIT MP’s say that regaining sovereignty means removing the UK from the meddling by EU judges. The UK has the same issues for British ex pats living around the EU.This is a biggie. The EU does not want the UK meddling in its courts and vice-versa.</li>\r\n 	<li>The IRISH BORDER:Maybe a little naïve on my part but I thought this would not be a problem when heads were smacked together. I thought “Take a look at Switzerland”; which is not in the EU, you can drive in and out of Switzerland from Germany, France or Italy. There are no hard borders. Am I over simplifying this issue?The trade agreement with Switzerland accommodates NO HARD BORDER.</li>\r\n 	<li>The DIVORCE BILL:The settlement amount to be paid by the UK to exit the EU has varied tremendously depending upon who is talking at the time and from which side of the negotiating table. It is now believed to be in the region €60 Billion (£50 Billion).There are many people who say “BOLLOCKS, the UK has paid enough just walk away”. I hear these comments but from the UK government perspective, the BREXIT bill is really the price to pay for a future trade deal. From the EU perspective it is all about settling past debts (EU Staff pension, loan guarantees and aid scheme contributions such as Syrian refugees etc.)</li>\r\n 	<li>TRADE DEAL &amp; THE CUSTOMS UNION:This is at the centre of the debate at the moment the UK opposition leader Jeremy Corbyn wants a customs union. This basically would keep the UK in a “FREE TRADE ZONE”. Internally, the “zone” is free of tariffs, which are only charged at the “zones” point of entry.By the letter, as far as I can see BREXIT = leaving the customs union. I therefore cannot understand how in the name of sanity Corbyn can adopt such a stance without going against the “will” of the people? On top of this minor point... the EU would view this as pure cherry picking and frankly unrealistic, more like political posturing than anything else.\r\n\r\nTheresa May outlined a proposal last Friday on trade, confirming the exit of the customs union but proposed having an associate status to charge and forward EU receipts and add any UK costs as items enter the ”zone”. Hmmn...Jeremy Corbyn revisited?\r\n\r\nThis is a massive area not just to get an agreement, but jobs and manufacturing businesses in both the UK and EU rest on this outcome. This will require huge debate between the UK and EU negotiators.</li>\r\n</ol>\r\nNow, there may be more sticking points, but these are the 4 that continue to resonate with me over and over again vis-à-vis the BREXIT negotiations.\r\n\r\nObviously, the UK position is to “Cherry Pick” and the EU position is to ensure the UK does not.\r\n\r\nThe next deadline is October this year, when there is a deadline for the deal to be completed.\r\n\r\nI still have my doubts that this timeline can be agreed. The UK will want a blanket agreement in order that it can have some flexibility in the future, to deal with potential one-off cases that could be missed during the negotiations. The EU has Brussels; Brussels is non-elected, full of expense drive bureaucrats, who’s existence is justified and possibly measured on how many i’s and t’s can be dotted and crossed.\r\n\r\nWe appear to have a “MEXICAN STANDOFF” both sides are more than happy to state their positions. As mentioned earlier, this is what politicians do. Whilst this can be viewing as amusing to some people, the clock is ticking away in the background.\r\n\r\nObviously, both sides will yield some ground in order to get an agreement, what the final draft looks like, who knows at this stage.\r\n\r\nFrom a trading perspective the continued uncertainty is weighing on the GBP but not EUR, which I admit surprises me a little. As I have said of late cross-rates offer the best opportunities and given TRUMP’s latest moves on tariffs, maybe staying away from the USD is also not a bad idea!\r\n\r\n&nbsp;\r\n<ol start=\"3\">\r\n 	<li><span style=\"font-size: 14pt;\"><strong>USD SUPPORT and RESISTANCE with my BIAS:</strong></span></li>\r\n</ol>\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2018/03/TCHART-03032018.png\"><img class=\"aligncenter size-large wp-image-11078\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2018/03/TCHART-03032018-1024x894.png\" alt=\"\" width=\"1024\" height=\"894\" /></a>\r\n\r\n<strong> </strong>\r\n<ol start=\"4\">\r\n 	<li><span style=\"font-size: 14pt;\"><strong>THE PREMIUM SERVICE TRADING SUMMARY:</strong></span></li>\r\n</ol>\r\n<u>PREMIUM SERVICE PERFORMANCE YEAR TO DATE:</u>\r\n\r\n(Incorporating the last 5 PREMIUM SERVICE TRADES)\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2018/03/PS-SUMMARY-03032018.png\"><img class=\"aligncenter size-large wp-image-11077\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2018/03/PS-SUMMARY-03032018-1024x869.png\" alt=\"\" width=\"1024\" height=\"869\" /></a>\r\n\r\nYou can get on board and join from as little as CAD$10 for 10 days and then CAD$150.00 per month, currency conversions for CAD$150 are roughly as follows: -\r\n\r\nGBP £90 per month\r\nEUR €100 per month\r\nUSD $120 per month\r\nJPY 12,700 per month\r\nAUD $150 per month\r\n\r\nThis represents a great value way to subscribe…  and a great RISK / REWARD!\r\n\r\nMoving on...\r\n\r\n<a href=\"mailto:d*****@gmail.com\">d*****@gmail.com</a> has won the monthly draw for a FREE 30-DAY subscription to the PREMIUM SERVICE. By the time this blog is posted hopefully he or she will be fully equipped with all the supporting data and ready to receive!\r\n<p style=\"text-align: center;\">Still more about THE PREMIUM SERVICE this week...</p>\r\n<p style=\"text-align: center;\">PREMIUM SERVICE – FEBRUARY 2108:\r\nThe PREMIUM SERVICE generated a total of 2,414 net pips, taking the year to date number to 3,892 pips.\r\n78% of trades in February made $$$\r\n22% of trades in February lost $$$\r\nYear to date it\'s a 74% / 26% ratio\r\nIn comparison to 2017, the PREMIUM SERVICE is 3,145 pips ahead of the year to date performance at the same time.</p>\r\nThe spreadsheet below shows you the potential earnings that were made in February and the year to date based upon being a trader who trades single or 5 lots of either MICRO, MINI or STANDARD size.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2018/03/PREMIUM-SERVICE-PERF.-JAN-FEB-2018.jpg\"><img class=\"aligncenter size-large wp-image-11065\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2018/03/PREMIUM-SERVICE-PERF.-JAN-FEB-2018-1024x829.jpg\" alt=\"\" width=\"1024\" height=\"829\" /></a>\r\n\r\nAs you can see from the spreadsheet above ALL types of traders even single micro lot traders would be positive after the first two months this year. Being realistic, I would NOT expect single micro lot traders to benefit much in a full year, but it does show that risking just $0.10 per trade can generate an income.\r\n\r\nFrom a longer-term perspective my thoughts are along the lines that from 5 x micro lots upwards, risking a minimum of just $0.50 cents per trade will generate a small positive income after costs. There are obviously no guarantees with income, I cannot guarantee this and as you know you trade with RISK. However, with managed RISK there are opportunities for micro lot traders.\r\n\r\nMoving up the scale single mini lot ($1.00 per trade) traders and above have since 2014 been able to generate a net income after costs have been applied and although there are still RISKS, again with RISK MANAGEMENT these RISKS can be managed.\r\n\r\nThe bottom line is that since 2014 the PREMIUM SERVICE has been profitable.\r\n\r\nTherefore...\r\n\r\nI am obviously delighted, over the moon, a happy bunny, you use whatever phrase or terminology you prefer but to say that 2018 has started with a bang is the second understatement I have made in this blog so far!\r\n\r\nYou can subscribe for periods as well. Go to my website <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a> for more details under the TAB – “SUBSCRIBE HERE”.\r\n\r\n<strong> </strong>\r\n<ol start=\"5\">\r\n 	<li><span style=\"font-size: 14pt;\"><strong>PREMIUM SERVICE SUBSCRIBERS:</strong></span></li>\r\n</ol>\r\n(This section is for PREMIUM SUBSCRIBERS ONLY)\r\n\r\n<u>5.1. TRADING REVIEW:</u>\r\n\r\n<u>5.2. SENTIMENT,</u><u> FUNDAMENTAL &amp; MACRO THOUGHTS</u><u>\r\n</u>\r\n\r\n<u>5.3. THE WEEK AHEAD:</u>\r\n\r\n<u>5.3.1. ECONOMIC DATA RELEASES THAT INTEREST ME:</u>\r\n\r\n<u>5.3.2. MY KEY EVENTS ON THIS WEEK’S CALENDAR AND WHY:</u>\r\n\r\n<u>5.3.3. HOW I WILL APPROACH and TRADE THE MARKET THIS WEEK:</u>\r\n\r\n<u>5.3.4. MY “MACRO” TRADING PLAN FOR THE WEEK AHEAD:</u>\r\n\r\n<u>5.4. CURRENT LIVE TRADES &amp; LIMIT ORDERS:</u>\r\n\r\n<u>5.4.1. CURRENT LIVE TRADES:\r\n</u>\r\n<u>5.4.2. CURRENT LIMIT ORDER TRADES:</u>\r\n\r\n<u>5.5. FX BROKER NEWS and MARKET FEEDBACK:</u>\r\n\r\n&nbsp;\r\n\r\n<strong> </strong>\r\n<ol start=\"6\">\r\n 	<li><span style=\"font-size: 14pt;\"><strong>THE FINAL SHOT:</strong></span></li>\r\n</ol>\r\nNothing more to add here, I have said enough except,\r\n\r\nAs usual…\r\n\r\nAlways remember longevity in Forex trading can only be achieved through trading with good RISK and MONEY MANAGEMENT, and above all set your position sizes in accordance with the size of your account and allow for some flexibility.\r\n\r\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: #272 FREE NEWSLETTER\r\nDATE: 3<sup>rd</sup> March 2018', 'BREXIT AT A “MEXICAN STANDOFF”', '', 'publish', 'open', 'closed', '', 'brexit-mexican-standoff', '', '', '2018-03-08 06:00:40', '2018-03-08 11:00:40', '', 0, 'https://weeklyfxdrivethru.com/?p=11087', 0, 'post', '', 0);
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(11088, 1, '2018-03-03 06:37:21', '2018-03-03 11:37:21', '&nbsp;\r\n<ol>\r\n 	<li><span style=\"font-size: 14pt;\"><strong> THE FIRST SHOT:</strong></span></li>\r\n</ol>\r\nWelcome to the month of March.\r\n\r\nThe name of the month may have changed but the geopolitical and economic concerns that could send the FX market into either a tailspin or the ultimate short squeeze are still hanging over us like the “Sword of Damocles”.\r\n<ul>\r\n 	<li>ITALIAN ELECTIONS – COALITION PARTNERS UNCERTAINTY</li>\r\n 	<li>GERMANY - SPD PARTY VOTES ON COALITION DEAL with CDU</li>\r\n 	<li>BREXIT – EU &amp; UK IN GAME OF “HIGH STAKES CHICKEN”</li>\r\n 	<li>TRUMP – KICKING OFF A GLOBAL TRADE WAR</li>\r\n 	<li>JEROME POWELL – FED RATE HIKES in 2018</li>\r\n 	<li>US 10YR YIELDS if BREAK THROUGH 3% sets up 4.5%</li>\r\n 	<li>BOJ – CHANGE IN MONETARY POLICY RE QQE in 2019?</li>\r\n</ul>\r\nHappy days... It’s all good fun and it ensures that we remain vigilant whilst staring at our trading screens.\r\n\r\nI have often said jokingly to friends that trading Forex one has to “Rub your tummy and scratch your head both at the same time” just to keep up at times, and what fascinates me most about trading currencies is that when you look at the list above, some are currency positive, some are currency negative. It is the inter-market reactions and correlations that keep you on your toes. Even more so at the moment as many correlations are “off” and correlations “do matter” when trading currencies.\r\n\r\nSo, it looks like there will be some fun ahead this week and when you add into the mix a full range of economic data releases as well, such as U.S. Non-Farm Payrolls, ECB Press Conference and Policy decisions, BOJ, RBA and BOC interest rate decisions and Central Bank statements, plus CAD jobs and Trade Balance and AUD Retail Sales, GDP and Trade Balance, it is set up to be a week of potential volatility.\r\n\r\nLet me make a bit of an understatement.... this week is a big week for data and reactions to geopolitical events.... no kidding!\r\n\r\nIf you are new to the FX market, this week could be one to sit back and merely just observe the price action.\r\n\r\nFinally, in this section...\r\n\r\nI think that in the last 12 months I have written or mentioned crypto currencies only once and that was in section 5, which only PREMIUM SERVICE subscribers see. I was asked a question during the week as to why I do not talk about them?\r\n\r\nMy answer is very easy and clear.\r\n\r\nUntil they are fully regulated and safe to trade, I am not interested.\r\n\r\n<strong> </strong>\r\n<ol start=\"2\">\r\n 	<li><span style=\"font-size: 14pt;\"><strong> MARKET OVERVIEW – MY THOUGHTS:</strong></span><strong> </strong></li>\r\n</ol>\r\n<p style=\"text-align: center;\"><span style=\"font-size: 14pt;\"><strong>BREXIT AT A “MEXICAN STANDOFF”</strong></span></p>\r\nNow...\r\n\r\nWithout looking like I have read the book “THE ART OF THE DEAL”, I have to say that UK Prime Minister May’s fourth “APRES BREXIT” speech last Friday ticked lots of the boxes. Whilst the speech was just as much a speech to appeal to Conservative Party unity, it was also conciliatory for the EU in that she did NOT threaten to stamp her feet and walk away.\r\n\r\nWhether you rate Theresa May’s leadership or not, the speech hit every note that needed to be hit. She has to do this in my opinion.... why?\r\n\r\nNothing new here I’m afraid, it’s all to do with BREXIT CONTAGION.\r\n\r\nThe facts are very simple. The EU has as much, if not some would say, more to lose than the UK when the BREXIT finally happens.\r\n\r\nKeeping this very simple and straightforward, both the UK and the EU have lots to lose if they do not maintain equitable trade relations.\r\n\r\nIf the BREXIT agreement is seen as a “GOOD DEAL” to leave the EU, the fear from the EU is that the current EU27 (the number of countries currently members of the EUROPEAN UNION), could reduce to the EU25 or EU22... pick your own number.\r\n\r\nThe EU negotiating team led my Michel Barnier (Presently French Politician, ex. European Commissioner for Internal Market and Services 2010-2014) and supported by the likes of Donald Tusk (currently President of the European council and ex. Prime Minister of Poland) and Jean Claude Junker (President of the European commission and Luxembourg politician), are maintaining a HARD-RED LINE to demonstrate that, leaving the EU should be no “Bed of Roses”.\r\n\r\nThe simple facts are though, from my perspective that since the vote was taken via referendum to leave the EU by the UK voters in June 2016, very little appears to have happened by way of actually leaving.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2018/03/BREXIT-TIMELINE-03032018.png\"><img class=\"aligncenter size-large wp-image-11071\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2018/03/BREXIT-TIMELINE-03032018-985x1024.png\" alt=\"\" width=\"985\" height=\"1024\" /></a>\r\n\r\n&nbsp;\r\n\r\nFrom the chart above, basically following the trigger of Article 50 in March 2017 (a year ago) from my perspective it’s been a game of “HIGH STAKES CHICKEN” and a “MEXICAN STANDOFF” has taking hold. Neither side after stating their positions has really budged. You have to bear in mind, politicians rarely answer questions they state positions and all the major negotiators in the BREXIT from both sides are politicians at source.\r\n\r\nIn the past week both sides have literally regurgitated their positions under the pretext of breaking speeches important to the BREXIT negotiations.\r\n\r\nWill the negotiators meet the October deadline this year for a deal to be ratified by the EU27? The UK BREXIT date is 29<sup>th</sup> March 2019 at 23.00 CET.\r\n\r\nOK, so what has been done apart from both sides expelling a lot of hot air?\r\n\r\nThe EU Withdrawal Bill, which is intended to convert all existing EU laws into UK law to ensure there are no gaps in legislation on BREXIT day, has had two readings in the House of Commons and passed, however, it is now in the House of Lords who have said basically that it needs to be re-written!\r\n\r\nSo that\'s not much progress at all unless the re-writes can find support back in front of MP’s when it is pushed back and amended. It will require a commons committee to co-ordinate amendments. This will make it close to deadline day for signing into law, assuming that the “Lords” like the new wording and can ratify the paper on time and not create delays!\r\n\r\nThe sticking points seem to be only: -\r\n<ol>\r\n 	<li>CITIZENS RIGHTS - The ECJ (The European Court of Justice):\r\n\r\nIt’s all about the role it plays in protecting the rights of EU citizens living and working in the UK following BREXIT. The hardline BREXIT MP’s say that regaining sovereignty means removing the UK from the meddling by EU judges. The UK has the same issues for British ex pats living around the EU.\r\n\r\nThis is a biggie. The EU does not want the UK meddling in its courts and vice-versa.</li>\r\n 	<li>The IRISH BORDER:\r\n\r\nMaybe a little naïve on my part but I thought this would not be a problem when heads were smacked together. I thought “Take a look at Switzerland”; which is not in the EU, you can drive in and out of Switzerland from Germany, France or Italy. There are no hard borders. Am I over simplifying this issue?\r\n\r\nThe trade agreement with Switzerland accommodates NO HARD BORDER.</li>\r\n 	<li>The DIVORCE BILL:\r\n\r\nThe settlement amount to be paid by the UK to exit the EU has varied tremendously depending upon who is talking at the time and from which side of the negotiating table. It is now believed to be in the region €60 Billion (£50 Billion).\r\n\r\nThere are many people who say “BOLLOCKS, the UK has paid enough just walk away”. I hear these comments but from the UK government perspective, the BREXIT bill is really the price to pay for a future trade deal. From the EU perspective it is all about settling past debts (EU Staff pension, loan guarantees and aid scheme contributions such as Syrian refugees etc.)</li>\r\n 	<li>TRADE DEAL &amp; THE CUSTOMS UNION:\r\n\r\nThis is at the centre of the debate at the moment the UK opposition leader Jeremy Corbyn wants a customs union. This basically would keep the UK in a “FREE TRADE ZONE”. Internally, the “zone” is free of tariffs, which are only charged at the “zones” point of entry.\r\n\r\nBy the letter, as far as I can see BREXIT = leaving the customs union. I therefore cannot understand how in the name of sanity Corbyn can adopt such a stance without going against the “will” of the people? On top of this minor point... the EU would view this as pure cherry picking and frankly unrealistic, more like political posturing than anything else.\r\n\r\nTheresa May outlined a proposal last Friday on trade, confirming the exit of the customs union but proposed having an associate status to charge and forward EU receipts and add any UK costs as items enter the ”zone”. Hmmn...Jeremy Corbyn revisited?\r\n\r\nThis is a massive area not just to get an agreement, but jobs and manufacturing businesses in both the UK and EU rest on this outcome. This will require huge debate between the UK and EU negotiators.</li>\r\n</ol>\r\nNow, there may be more sticking points, but these are the 4 that continue to resonate with me over and over again vis-à-vis the BREXIT negotiations.\r\n\r\nObviously, the UK position is to “Cherry Pick” and the EU position is to ensure the UK does not.\r\n\r\nThe next deadline is October this year, when there is a deadline for the deal to be completed.\r\n\r\nI still have my doubts that this timeline can be agreed. The UK will want a blanket agreement in order that it can have some flexibility in the future, to deal with potential one-off cases that could be missed during the negotiations. The EU has Brussels; Brussels is non-elected, full of expense drive bureaucrats, who’s existence is justified and possibly measured on how many i’s and t’s can be dotted and crossed.\r\n\r\nWe appear to have a “MEXICAN STANDOFF” both sides are more than happy to state their positions. As mentioned earlier, this is what politicians do. Whilst this can be viewing as amusing to some people, the clock is ticking away in the background.\r\n\r\nObviously, both sides will yield some ground in order to get an agreement, what the final draft looks like, who knows at this stage.\r\n\r\nFrom a trading perspective the continued uncertainty is weighing on the GBP but not EUR, which I admit surprises me a little. As I have said of late cross-rates offer the best opportunities and given TRUMP’s latest moves on tariffs, maybe staying away from the USD is also not a bad idea!\r\n\r\n&nbsp;\r\n<ol start=\"3\">\r\n 	<li><span style=\"font-size: 14pt;\"><strong>USD SUPPORT and RESISTANCE with my BIAS:</strong></span></li>\r\n</ol>\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2018/03/TCHART-03032018.png\"><img class=\"aligncenter size-large wp-image-11078\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2018/03/TCHART-03032018-1024x894.png\" alt=\"\" width=\"1024\" height=\"894\" /></a>\r\n\r\n<strong> </strong>\r\n<ol start=\"4\">\r\n 	<li><span style=\"font-size: 14pt;\"><strong>THE PREMIUM SERVICE TRADING SUMMARY:</strong></span></li>\r\n</ol>\r\n<u>PREMIUM SERVICE PERFORMANCE YEAR TO DATE:</u>\r\n\r\n(Incorporating the last 5 PREMIUM SERVICE TRADES)\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2018/03/PS-SUMMARY-03032018.png\"><img class=\"aligncenter size-large wp-image-11077\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2018/03/PS-SUMMARY-03032018-1024x869.png\" alt=\"\" width=\"1024\" height=\"869\" /></a>\r\n\r\nYou can get on board and join from as little as CAD$10 for 10 days and then CAD$150.00 per month, currency conversions for CAD$150 are roughly as follows: -\r\n\r\nGBP £90 per month\r\nEUR €100 per month\r\nUSD $120 per month\r\nJPY 12,700 per month\r\nAUD $150 per month\r\n\r\nThis represents a great value way to subscribe…  and a great RISK / REWARD!\r\n\r\nMoving on...\r\n\r\n<a href=\"mailto:d*****@gmail.com\">d*****@gmail.com</a> has won the monthly draw for a FREE 30-DAY subscription to the PREMIUM SERVICE. By the time this blog is posted hopefully he or she will be fully equipped with all the supporting data and ready to receive!\r\n<p style=\"text-align: center;\">Still more about THE PREMIUM SERVICE this week...</p>\r\n<p style=\"text-align: center;\">PREMIUM SERVICE – FEBRUARY 2108:\r\nThe PREMIUM SERVICE generated a total of 2,414 net pips, taking the year to date number to 3,892 pips.\r\n78% of trades in February made $$$\r\n22% of trades in February lost $$$\r\nYear to date it\'s a 74% / 26% ratio\r\nIn comparison to 2017, the PREMIUM SERVICE is 3,145 pips ahead of the year to date performance at the same time.</p>\r\nThe spreadsheet below shows you the potential earnings that were made in February and the year to date based upon being a trader who trades single or 5 lots of either MICRO, MINI or STANDARD size.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2018/03/PREMIUM-SERVICE-PERF.-JAN-FEB-2018.jpg\"><img class=\"aligncenter size-large wp-image-11065\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2018/03/PREMIUM-SERVICE-PERF.-JAN-FEB-2018-1024x829.jpg\" alt=\"\" width=\"1024\" height=\"829\" /></a>\r\n\r\nAs you can see from the spreadsheet above ALL types of traders even single micro lot traders would be positive after the first two months this year. Being realistic, I would NOT expect single micro lot traders to benefit much in a full year, but it does show that risking just $0.10 per trade can generate an income.\r\n\r\nFrom a longer-term perspective my thoughts are along the lines that from 5 x micro lots upwards, risking a minimum of just $0.50 cents per trade will generate a small positive income after costs. There are obviously no guarantees with income, I cannot guarantee this and as you know you trade with RISK. However, with managed RISK there are opportunities for micro lot traders.\r\n\r\nMoving up the scale single mini lot ($1.00 per trade) traders and above have since 2014 been able to generate a net income after costs have been applied and although there are still RISKS, again with RISK MANAGEMENT these RISKS can be managed.\r\n\r\nThe bottom line is that since 2014 the PREMIUM SERVICE has been profitable.\r\n\r\nTherefore...\r\n\r\nI am obviously delighted, over the moon, a happy bunny, you use whatever phrase or terminology you prefer but to say that 2018 has started with a bang is the second understatement I have made in this blog so far!\r\n\r\nYou can subscribe for periods as well. Go to my website <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a> for more details under the TAB – “SUBSCRIBE HERE”.\r\n\r\n<strong> </strong>\r\n<ol start=\"5\">\r\n 	<li><span style=\"font-size: 14pt;\"><strong>PREMIUM SERVICE SUBSCRIBERS:</strong></span></li>\r\n</ol>\r\n(This section is for PREMIUM SUBSCRIBERS ONLY)\r\n\r\n<u>5.1. TRADING REVIEW:</u>\r\n\r\n<u>5.2. SENTIMENT,</u><u> FUNDAMENTAL &amp; MACRO THOUGHTS</u><u>\r\n</u>\r\n\r\n<u>5.3. THE WEEK AHEAD:</u>\r\n\r\n<u>5.3.1. ECONOMIC DATA RELEASES THAT INTEREST ME:</u>\r\n\r\n<u>5.3.2. MY KEY EVENTS ON THIS WEEK’S CALENDAR AND WHY:</u>\r\n\r\n<u>5.3.3. HOW I WILL APPROACH and TRADE THE MARKET THIS WEEK:</u>\r\n\r\n<u>5.3.4. MY “MACRO” TRADING PLAN FOR THE WEEK AHEAD:</u>\r\n\r\n<u>5.4. CURRENT LIVE TRADES &amp; LIMIT ORDERS:</u>\r\n\r\n<u>5.4.1. CURRENT LIVE TRADES:\r\n</u>\r\n<u>5.4.2. CURRENT LIMIT ORDER TRADES:</u>\r\n\r\n<u>5.5. FX BROKER NEWS and MARKET FEEDBACK:</u>\r\n\r\n&nbsp;\r\n\r\n<strong> </strong>\r\n<ol start=\"6\">\r\n 	<li><span style=\"font-size: 14pt;\"><strong>THE FINAL SHOT:</strong></span></li>\r\n</ol>\r\nNothing more to add here, I have said enough except,\r\n\r\nAs usual…\r\n\r\nAlways remember longevity in Forex trading can only be achieved through trading with good RISK and MONEY MANAGEMENT, and above all set your position sizes in accordance with the size of your account and allow for some flexibility.\r\n\r\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: #272 FREE NEWSLETTER\r\nDATE: 3<sup>rd</sup> March 2018', 'BREXIT AT A “MEXICAN STANDOFF”', '', 'inherit', 'closed', 'closed', '', '11087-revision-v1', '', '', '2018-03-03 06:37:21', '2018-03-03 11:37:21', '', 11087, 'https://weeklyfxdrivethru.com/11087-revision-v1/', 0, 'revision', '', 0),
(11089, 1, '2018-03-03 06:43:04', '2018-03-03 11:43:04', '<ol>\r\n 	<li><span style=\"font-size: 14pt;\"><strong>THE FIRST SHOT:</strong></span></li>\r\n</ol>\r\nWelcome to the month of March.\r\n\r\nThe name of the month may have changed but the geopolitical and economic concerns that could send the FX market into either a tailspin or the ultimate short squeeze are still hanging over us like the “Sword of Damocles”.\r\n<ul>\r\n 	<li>ITALIAN ELECTIONS – COALITION PARTNERS UNCERTAINTY</li>\r\n 	<li>GERMANY - SPD PARTY VOTES ON COALITION DEAL with CDU</li>\r\n 	<li>BREXIT – EU &amp; UK IN GAME OF “HIGH STAKES CHICKEN”</li>\r\n 	<li>TRUMP – KICKING OFF A GLOBAL TRADE WAR</li>\r\n 	<li>JEROME POWELL – FED RATE HIKES in 201</li>\r\n 	<li>US 10YR YIELDS if BREAK THROUGH 3% sets up 4.5%</li>\r\n 	<li>BOJ – CHANGE IN MONETARY POLICY RE QQE in 2019?</li>\r\n</ul>\r\nHappy days... It’s all good fun and it ensures that we remain vigilant whilst staring at our trading screens.\r\n\r\nI have often said jokingly to friends that trading Forex one has to “Rub your tummy and scratch your head both at the same time” just to keep up at times, and what fascinates me most about trading currencies is that when you look at the list above, some are currency positive, some are currency negative. It is the inter-market reactions and correlations that keep you on your toes. Even more so at the moment as many correlations are “off” and correlations “do matter” when trading currencies.\r\n\r\nSo, it looks like there will be some fun ahead this week and when you add into the mix a full range of economic data releases as well, such as U.S. Non-Farm Payrolls, ECB Press Conference and Policy decisions, BOJ, RBA and BOC interest rate decisions and Central Bank statements, plus CAD jobs and Trade Balance and AUD Retail Sales, GDP and Trade Balance, it is set up to be a week of potential volatility.\r\n\r\nLet me make a bit of an understatement.... this week is a big week for data and reactions to geopolitical events.... no kidding!\r\n\r\nIf you are new to the FX market, this week could be one to sit back and merely just observe the price action.\r\n\r\nFinally, in this section...\r\n\r\nI think that in the last 12 months I have written or mentioned crypto currencies only once and that was in section 5, which only PREMIUM SERVICE subscribers see. I was asked a question during the week as to why I do not talk about them?\r\n\r\nMy answer is very easy and clear.\r\n\r\nUntil they are fully regulated and safe to trade, I am not interested.\r\n\r\n<strong> </strong>\r\n<ol start=\"2\">\r\n 	<li><span style=\"font-size: 14pt;\"><strong> MARKET OVERVIEW – MY THOUGHTS:</strong></span><strong> </strong></li>\r\n</ol>\r\n<p style=\"text-align: center;\"><span style=\"font-size: 14pt;\"><strong>BREXIT AT A “MEXICAN STANDOFF”</strong></span></p>\r\nNow...\r\n\r\nWithout looking like I have read the book “THE ART OF THE DEAL”, I have to say that UK Prime Minister May’s fourth “APRES BREXIT” speech last Friday ticked lots of the boxes. Whilst the speech was just as much a speech to appeal to Conservative Party unity, it was also conciliatory for the EU in that she did NOT threaten to stamp her feet and walk away.\r\n\r\nWhether you rate Theresa May’s leadership or not, the speech hit every note that needed to be hit. She has to do this in my opinion.... why?\r\n\r\nNothing new here I’m afraid, it’s all to do with BREXIT CONTAGION.\r\n\r\nThe facts are very simple. The EU has as much, if not some would say, more to lose than the UK when the BREXIT finally happens.\r\n\r\nKeeping this very simple and straightforward, both the UK and the EU have lots to lose if they do not maintain equitable trade relations.\r\n\r\nIf the BREXIT agreement is seen as a “GOOD DEAL” to leave the EU, the fear from the EU is that the current EU27 (the number of countries currently members of the EUROPEAN UNION), could reduce to the EU25 or EU22... pick your own number.\r\n\r\nThe EU negotiating team led my Michel Barnier (Presently French Politician, ex. European Commissioner for Internal Market and Services 2010-2014) and supported by the likes of Donald Tusk (currently President of the European council and ex. Prime Minister of Poland) and Jean Claude Junker (President of the European commission and Luxembourg politician), are maintaining a HARD-RED LINE to demonstrate that, leaving the EU should be no “Bed of Roses”.\r\n\r\nThe simple facts are though, from my perspective that since the vote was taken via referendum to leave the EU by the UK voters in June 2016, very little appears to have happened by way of actually leaving.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2018/03/BREXIT-TIMELINE-03032018.png\"><img class=\"aligncenter size-large wp-image-11071\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2018/03/BREXIT-TIMELINE-03032018-985x1024.png\" alt=\"\" width=\"985\" height=\"1024\" /></a>\r\n\r\nFrom the chart above, basically following the trigger of Article 50 in March 2017 (a year ago) from my perspective it’s been a game of “HIGH STAKES CHICKEN” and a “MEXICAN STANDOFF” has taking hold. Neither side after stating their positions has really budged. You have to bear in mind, politicians rarely answer questions they state positions and all the major negotiators in the BREXIT from both sides are politicians at source.\r\n\r\nIn the past week both sides have literally regurgitated their positions under the pretext of breaking speeches important to the BREXIT negotiations.\r\n\r\nWill the negotiators meet the October deadline this year for a deal to be ratified by the EU27? The UK BREXIT date is 29<sup>th</sup> March 2019 at 23.00 CET.\r\n\r\nOK, so what has been done apart from both sides expelling a lot of hot air?\r\n\r\nThe EU Withdrawal Bill, which is intended to convert all existing EU laws into UK law to ensure there are no gaps in legislation on BREXIT day, has had two readings in the House of Commons and passed, however, it is now in the House of Lords who have said basically that it needs to be re-written!\r\n\r\nSo that\'s not much progress at all unless the re-writes can find support back in front of MP’s when it is pushed back and amended. It will require a commons committee to co-ordinate amendments. This will make it close to deadline day for signing into law, assuming that the “Lords” like the new wording and can ratify the paper on time and not create delays!\r\n\r\nThe sticking points seem to be only: -\r\n\r\n&nbsp;\r\n<ol>\r\n 	<li>CITIZENS RIGHTS - The ECJ (The European Court of Justice):It’s all about the role it plays in protecting the rights of EU citizens living and working in the UK following BREXIT. The hardline BREXIT MP’s say that regaining sovereignty means removing the UK from the meddling by EU judges. The UK has the same issues for British ex pats living around the EU.This is a biggie. The EU does not want the UK meddling in its courts and vice-versa.</li>\r\n 	<li>The IRISH BORDER:Maybe a little naïve on my part but I thought this would not be a problem when heads were smacked together. I thought “Take a look at Switzerland”; which is not in the EU, you can drive in and out of Switzerland from Germany, France or Italy. There are no hard borders. Am I over simplifying this issue?The trade agreement with Switzerland accommodates NO HARD BORDER.</li>\r\n 	<li>The DIVORCE BILL:The settlement amount to be paid by the UK to exit the EU has varied tremendously depending upon who is talking at the time and from which side of the negotiating table. It is now believed to be in the region €60 Billion (£50 Billion).There are many people who say “BOLLOCKS, the UK has paid enough just walk away”. I hear these comments but from the UK government perspective, the BREXIT bill is really the price to pay for a future trade deal. From the EU perspective it is all about settling past debts (EU Staff pension, loan guarantees and aid scheme contributions such as Syrian refugees etc.)</li>\r\n 	<li>TRADE DEAL &amp; THE CUSTOMS UNION:This is at the centre of the debate at the moment the UK opposition leader Jeremy Corbyn wants a customs union. This basically would keep the UK in a “FREE TRADE ZONE”. Internally, the “zone” is free of tariffs, which are only charged at the “zones” point of entry.By the letter, as far as I can see BREXIT = leaving the customs union. I therefore cannot understand how in the name of sanity Corbyn can adopt such a stance without going against the “will” of the people? On top of this minor point... the EU would view this as pure cherry picking and frankly unrealistic, more like political posturing than anything else.Theresa May outlined a proposal last Friday on trade, confirming the exit of the customs union but proposed having an associate status to charge and forward EU receipts and add any UK costs as items enter the ”zone”. Hmmn...Jeremy Corbyn revisited?\r\n\r\nThis is a massive area not just to get an agreement, but jobs and manufacturing businesses in both the UK and EU rest on this outcome. This will require huge debate between the UK and EU negotiators.</li>\r\n</ol>\r\nNow, there may be more sticking points, but these are the 4 that continue to resonate with me over and over again vis-à-vis the BREXIT negotiations.\r\n\r\nObviously, the UK position is to “Cherry Pick” and the EU position is to ensure the UK does not.\r\n\r\nThe next deadline is October this year, when there is a deadline for the deal to be completed.\r\n\r\nI still have my doubts that this timeline can be agreed. The UK will want a blanket agreement in order that it can have some flexibility in the future, to deal with potential one-off cases that could be missed during the negotiations. The EU has Brussels; Brussels is non-elected, full of expense drive bureaucrats, who’s existence is justified and possibly measured on how many i’s and t’s can be dotted and crossed.\r\n\r\nWe appear to have a “MEXICAN STANDOFF” both sides are more than happy to state their positions. As mentioned earlier, this is what politicians do. Whilst this can be viewing as amusing to some people, the clock is ticking away in the background.\r\n\r\nObviously, both sides will yield some ground in order to get an agreement, what the final draft looks like, who knows at this stage.\r\n\r\nFrom a trading perspective the continued uncertainty is weighing on the GBP but not EUR, which I admit surprises me a little. As I have said of late cross-rates offer the best opportunities and given TRUMP’s latest moves on tariffs, maybe staying away from the USD is also not a bad idea!\r\n\r\n<strong> </strong>\r\n<ol start=\"3\">\r\n 	<li><span style=\"font-size: 14pt;\"><strong>USD SUPPORT and RESISTANCE with my BIAS:</strong></span></li>\r\n</ol>\r\n<strong> <a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2018/03/TCHART-03032018.png\"><img class=\"aligncenter size-large wp-image-11078\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2018/03/TCHART-03032018-1024x894.png\" alt=\"\" width=\"1024\" height=\"894\" /></a></strong>\r\n\r\n<strong> </strong>\r\n<ol start=\"4\">\r\n 	<li><span style=\"font-size: 14pt;\"><strong>THE PREMIUM SERVICE TRADING SUMMARY:</strong></span></li>\r\n</ol>\r\n<u>PREMIUM SERVICE PERFORMANCE YEAR TO DATE:</u>\r\n\r\n(Incorporating the last 5 PREMIUM SERVICE TRADES)\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2018/03/PS-SUMMARY-03032018.png\"><img class=\"aligncenter size-large wp-image-11077\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2018/03/PS-SUMMARY-03032018-1024x869.png\" alt=\"\" width=\"1024\" height=\"869\" /></a>\r\n\r\nYou can get on board and join from as little as CAD$10 for 10 days and then CAD$150.00 per month, currency conversions for CAD$150 are roughly as follows: -\r\n\r\nGBP £90 per month\r\nEUR €100 per month\r\nUSD $120 per month\r\nJPY 12,700 per month\r\nAUD $150 per month\r\n\r\nThis represents a great value way to subscribe…  and a great RISK / REWARD!\r\n\r\nMoving on...\r\n\r\n<a href=\"mailto:d*****@gmail.com\">d*****@gmail.com</a> has won the monthly draw for a FREE 30-DAY subscription to the PREMIUM SERVICE. By the time this blog is posted hopefully he or she will be fully equipped with all the supporting data and ready to receive!\r\n\r\nStill more about THE PREMIUM SERVICE this week...\r\n<p style=\"text-align: center;\">PREMIUM SERVICE – FEBRUARY 2108:\r\nThe PREMIUM SERVICE generated a total of 2,414 net pips, taking the year to date number to 3,892 pips.\r\n78% of trades in February made $$$\r\n22% of trades in February lost $$$\r\nYear to date it\'s a 74% / 26% ratio\r\nIn comparison to 2017, the PREMIUM SERVICE is 3,145 pips ahead of the year to date performance at the same time.</p>\r\nThe spreadsheet below shows you the potential earnings that were made in February and the year to date based upon being a trader who trades single or 5 lots of either MICRO, MINI or STANDARD size.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2018/03/PREMIUM-SERVICE-PERF.-JAN-FEB-2018.jpg\"><img class=\"aligncenter size-large wp-image-11065\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2018/03/PREMIUM-SERVICE-PERF.-JAN-FEB-2018-1024x829.jpg\" alt=\"\" width=\"1024\" height=\"829\" /></a>\r\n\r\nAs you can see from the spreadsheet above ALL types of traders even single micro lot traders would be positive after the first two months this year. Being realistic, I would NOT expect single micro lot traders to benefit much in a full year, but it does show that risking just $0.10 per trade can generate an income.\r\n\r\nFrom a longer-term perspective my thoughts are along the lines that from 5 x micro lots upwards, risking a minimum of just $0.50 cents per trade will generate a small positive income after costs. There are obviously no guarantees with income, I cannot guarantee this and as you know you trade with RISK. However, with managed RISK there are opportunities for micro lot traders.\r\n\r\nMoving up the scale single mini lot ($1.00 per trade) traders and above have since 2014 been able to generate a net income after costs have been applied and although there are still RISKS, again with RISK MANAGEMENT these RISKS can be managed.\r\n\r\nThe bottom line is that since 2014 the PREMIUM SERVICE has been profitable.\r\n\r\nTherefore...\r\n\r\nI am obviously delighted, over the moon, a happy bunny, you use whatever phrase or terminology you prefer but to say that 2018 has started with a bang is the second understatement I have made in this blog so far!\r\n\r\nYou can subscribe for periods as well. Go to my website <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a> for more details under the TAB – “SUBSCRIBE HERE”.\r\n\r\n&nbsp;\r\n\r\n<strong> </strong>\r\n<ol start=\"5\">\r\n 	<li><span style=\"font-size: 14pt;\"><strong>PREMIUM SERVICE SUBSCRIBERS:</strong></span></li>\r\n</ol>\r\n(This section is for PREMIUM SUBSCRIBERS ONLY)\r\n\r\n<u>5.1. TRADING REVIEW:</u>\r\n\r\nFEBRUARY 2018 net PIP TOTAL: 2,414 pips\r\nYEAR TO DATE net PIP TOTAL: 3.892 pips\r\nP+L trades ratio monthly: 78% / 22%\r\nP+L trades year to date ratio: 74% / 26%\r\n\r\nAll trade styles made pips in February and year to date all trade styles are now positive. Next month at the end of Q1 it is my intention to review the mix of trade styles as a percentage of the total.\r\n\r\nYou would have noticed that recently, I have placed trade set ups with both FUNDAMENTAL and MOMENTUM trade options. I am hoping that this will help the subscribers who have requested more flexibility with RISK parameters when adding up all the stop loss contingent liabilities. I am sure you will understand this does increase my RISK, so I cannot do this across the board.\r\n\r\nLooking back over February as a month. The short-term trades (FLASH and RADAR) suffered by way of quantity of trades, I am aware of this and hopefully this will level out as we move forward. My initial goals are obviously RISK, then $$$ and pips, trade style mix is a little down my list.\r\n\r\nLooking back through my excel spreadsheets, the vast majority of trades in February that made pips involved the JPY, NZD and AUD; there were also a number of GBP cross rate trades as well.\r\n\r\n&nbsp;\r\n\r\n<u>5.2. SENTIMENT,</u><u> FUNDAMENTAL &amp; MACRO THOUGHTS</u><u>:</u>\r\n\r\n&nbsp;\r\n\r\nAt the beginning of this blog I listed the following geopolitical event RISK hanging over the market at the moment: -\r\n<ul>\r\n 	<li>ITALIAN ELECTIONS – COALITION PARTNERS UNCERTAINTY</li>\r\n 	<li>GERMANY - SPD PARTY VOTES ON COALITION DEAL with CDU</li>\r\n 	<li>BREXIT – EU &amp; UK IN GAME OF “HIGH STAKES CHICKEN”</li>\r\n 	<li>TRUMP – KICKING OFF A GLOBAL TRADE WAR</li>\r\n 	<li>JEROME POWELL – FED RATE HIKES in 2018</li>\r\n 	<li>S. 10YR YIELDS if BREAK THROUGH 3% sets up 4.5%</li>\r\n 	<li>BOJ – CHANGE IN MONETARY POLICY RE QQE in 2019?</li>\r\n</ul>\r\nPLUS:\r\n<ul>\r\n 	<li>AUD - RBA Rate Statement, Retail Sales, Trade Balance, Current Account and GDP.</li>\r\n 	<li>GBP – Annual Budget Release, Services PMi and Manufacturing Production.</li>\r\n 	<li>USD – ADP, NFP and Average Hourly Earnings.</li>\r\n 	<li>CAD – BOC Rate Statement and Employment Data.</li>\r\n 	<li>JPY – BOJ Monetary Policy Statement and Press Conference.</li>\r\n 	<li>EUR – Rate Statement and Press Conference.</li>\r\n</ul>\r\nIt\'s a big week; without doubt the biggest so far this year.\r\n\r\nThere are no changes to my overall FUNDAMENTAL / MACRO THOUGHTS for 2018.\r\n\r\nI am still bearish the NZD although the AUD/NZD cross rate selling is really affecting my NZD trades at the moment.\r\n\r\nComing out from the background, I am now openly bullish the JPY currency and I am actively shorting JPY pairs across the board. This move is greatly enhanced following Kuroda’s announcement that the BOJ will start to normalize monetary policy next year.\r\n\r\nThe AUD is trading very heavy and there is a strong chance of a larger move lower. This is reinforced with the uncertainty surrounding TRUMP’s tariff promises. This week we should get some flesh on the bone of this policy.\r\n\r\nThe GBP is on hold as I mentioned last week. I do see the GBP moving much higher, but I think that until we see a BREXIT definitive agreement on policy, we are at risk of 100-200 pip drop in the GBP/USD with a knock-on effect into the GBP cross rate pairs.\r\n\r\nThe EUR is annoying. It is very well supported, and I am really annoyed with myself that I took my long trade with the entry of 1.2160 off the table. It was a well thought out level, the pair bounced of lows of 1.2154! ... argh!!!!  For now, I will wait until after the ECB before returning to more EUR trades.\r\n\r\nWith regards to this week, obviously RISK is higher than normal. I will slow down on set ups and starting early in the week I will be reducing RISK across the board.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2018/03/SENTIMENT-03032018.png\"><img class=\"aligncenter size-large wp-image-11079\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2018/03/SENTIMENT-03032018-788x1024.png\" alt=\"\" width=\"788\" height=\"1024\" /></a>\r\n\r\n&nbsp;\r\n\r\n<u>5.3. THE WEEK AHEAD:</u>\r\n\r\n<u>5.3.1. ECONOMIC DATA RELEASES THAT INTEREST ME:</u>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2018/03/ECON-DATA-03032018.png\"><img class=\"aligncenter size-large wp-image-11080\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2018/03/ECON-DATA-03032018-1024x948.png\" alt=\"\" width=\"1024\" height=\"948\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n<u>5.3.2. MY KEY EVENTS ON THIS WEEK’S CALENDAR AND WHY:</u>\r\n\r\nThere are only two events that have my attention this week.\r\n\r\n<u>AUD: Current Account, Retail Sales, RBA Rate Statement and Trade Balance.</u>\r\n\r\nIt\'s a big week for the AUD.\r\n\r\nTrade wise. I am holding and will hold through these events short AUD/USD and long AUD/NZD. I am therefore basically hedged.\r\n\r\n<u>CAD: BOC Rate Decision and Jobs Data.</u>\r\n\r\nI want to be bearish the USD/CAD but with NAFTA and now TRUMP Tariffs on imports hanging over the CAD currency, it may be that I will have to wait a little longer. With these items hanging over the BOC I cannot see with the attached uncertainty that Stephen Poloz will be making changes to the interest rate. The actual statement will be read closely, and the employment numbers will be noted.\r\n\r\nPoloz has openly stated that moves in the CAD are data dependent. I would add that any interest rate move is also TRUMP dependent.\r\n\r\nIt is my intention to have NO CAD exposure ahead of these news items.\r\n\r\n<u>USD: ADP and NFP Employment Data.</u>\r\n\r\nI think that I am adding these news events because one feels as a Forex trader that the biggest monthly news event (NFP) should always be noted. I do not think that this set of jobs data will be vital to influence whether or not the FED raises U.S. interest rates later this month or not, but I do think that it will be important to the voting members of the FED from a forward-looking sentiment perspective.\r\n\r\nI don\'t intend to trade NFP with new positions, just manage existing.\r\n\r\n<u>EUR: ECB Rate Statement and Press Conference.</u>\r\n\r\nWill Mario Draghi open up and offer more detail about the future tapering and interest rate normalization policies for the EUROZONE moving forward?\r\n\r\nMaybe, but probably not, I do NOT expect any forward guidance at all.\r\n\r\nI suspect that he will do whatever he needs to do NOT to rock the boat. He will get the same old questions starting with, when, how much and what happens if? He will swat these away as if holding a tennis racquet chasing a wasp around a picnic table.\r\n\r\nIt is however, the jewel in the crown vis-à-vis the economic data releases this coming week. It can always be a market mover.\r\n\r\nI will have no EUR exposure entering this news event.\r\n\r\n&nbsp;\r\n\r\n<u>5.3.3. HOW I WILL APPROACH and TRADE THE MARKET THIS WEEK:</u>\r\n\r\nI have mentioned this a couple of times already. This is a big week on the horizon, and frankly, to trade this coming week with any gusto is in my mind being bloody stupid.\r\n\r\nAdd together the list of geopolitical events and the economic data releases and it does NOT take a rocket scientist to evaluate the result that to be sidelined may be the best option. My brain is telling me that the market may be more news driven this week than by any fundamentals via economic data and the technical set ups may be ignored in times of high volatility.\r\n\r\nTherefore, my market approach will be caution and restrain.\r\n\r\n<u>\r\n</u><u>5.3.4. MY “MACRO” TRADING PLAN FOR THE WEEK AHEAD:</u>\r\n\r\nIn the background this week, I will be working hard on setting goals / objectives into my TRADE PALN to accommodate my fundamental thoughts moving into Q2 and Q3.\r\n\r\nThe PREMIUM SERVICE is well ahead of its “pip” objective for 2018 and the first two days of March has also produced +488 pips. I do not intend to sit back but I want to have my TRADE PLAN spot on in my mind and on paper to take into account the very recent geopolitical events.\r\n<ol>\r\n 	<li>Add NZD trades when appropriate.\r\nI want to add back NZD/USD and NZD/JPY trades.</li>\r\n 	<li>Plan my targets and approach to the JPY following the BOJ announcement regarding QQE and interest rate normalization. This may need to wait until after the BOJ meeting.\r\nI want to have a plan based now solely on USD/JPY but also some of the cross-rate JPY pairs.</li>\r\n 	<li>Formulate strategies with: -\r\nEUR long for Q2.\r\nAUD short from now through Q2.\r\nCAD short following BOC meeting from now through Q2.</li>\r\n</ol>\r\n<u>5.4. CURRENT LIVE TRADES &amp; LIMIT ORDERS:</u>\r\n\r\n<u>5.4.1. CURRENT LIVE TRADES:</u>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2018/03/LIVE-TRADES-03032018.png\"><img class=\"aligncenter size-large wp-image-11082\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2018/03/LIVE-TRADES-03032018-662x1024.png\" alt=\"\" width=\"662\" height=\"1024\" /></a>\r\n\r\n<u>5.4.2. CURRENT LIMIT ORDER TRADES:</u>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2018/03/LIMIT-ORDERS-03032018.png\"><img class=\"aligncenter size-large wp-image-11081\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2018/03/LIMIT-ORDERS-03032018-718x1024.png\" alt=\"\" width=\"718\" height=\"1024\" /></a>\r\n\r\n<u>5.5. FX BROKER NEWS and MARKET FEEDBACK:</u>\r\n\r\nNothing to report this week. All very quiet on the broker front apart from the continued explosion into trading “Crypto” currencies.\r\n\r\n<strong> </strong>\r\n\r\n<strong> </strong>\r\n<ol start=\"6\">\r\n 	<li><span style=\"font-size: 14pt;\"><strong>THE FINAL SHOT:</strong></span></li>\r\n</ol>\r\nNothing more to add here, I have said enough except,\r\n\r\nAs usual…\r\n\r\nAlways remember longevity in Forex trading can only be achieved through trading with good RISK and MONEY MANAGEMENT, and above all set your position sizes in accordance with the size of your account and allow for some flexibility.\r\n\r\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: #168 PREMIUM SERVICE\r\nDATE: 3<sup>rd</sup> March 2018\r\n\r\n&nbsp;\r\n\r\n&nbsp;', 'BREXIT AT A “MEXICAN STANDOFF”', '', 'inherit', 'closed', 'closed', '', '11083-revision-v1', '', '', '2018-03-03 06:43:04', '2018-03-03 11:43:04', '', 11083, 'https://weeklyfxdrivethru.com/11083-revision-v1/', 0, 'revision', '', 0);
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(11090, 1, '2018-03-03 06:48:45', '2018-03-03 11:48:45', '&nbsp;\r\n<ol>\r\n 	<li><span style=\"font-size: 14pt;\"><strong> THE FIRST SHOT:</strong></span></li>\r\n</ol>\r\nWelcome to the month of March.\r\n\r\nThe name of the month may have changed but the geopolitical and economic concerns that could send the FX market into either a tailspin or the ultimate short squeeze are still hanging over us like the “Sword of Damocles”.\r\n<ul>\r\n 	<li>ITALIAN ELECTIONS – COALITION PARTNERS UNCERTAINTY</li>\r\n 	<li>GERMANY - SPD PARTY VOTES ON COALITION DEAL with CDU</li>\r\n 	<li>BREXIT – EU &amp; UK IN GAME OF “HIGH STAKES CHICKEN”</li>\r\n 	<li>TRUMP – KICKING OFF A GLOBAL TRADE WAR</li>\r\n 	<li>JEROME POWELL – FED RATE HIKES in 2018</li>\r\n 	<li>US 10YR YIELDS if BREAK THROUGH 3% sets up 4.5%</li>\r\n 	<li>BOJ – CHANGE IN MONETARY POLICY RE QQE in 2019?</li>\r\n</ul>\r\nHappy days... It’s all good fun and it ensures that we remain vigilant whilst staring at our trading screens.\r\n\r\nI have often said jokingly to friends that trading Forex one has to “Rub your tummy and scratch your head both at the same time” just to keep up at times, and what fascinates me most about trading currencies is that when you look at the list above, some are currency positive, some are currency negative. It is the inter-market reactions and correlations that keep you on your toes. Even more so at the moment as many correlations are “off” and correlations “do matter” when trading currencies.\r\n\r\nSo, it looks like there will be some fun ahead this week and when you add into the mix a full range of economic data releases as well, such as U.S. Non-Farm Payrolls, ECB Press Conference and Policy decisions, BOJ, RBA and BOC interest rate decisions and Central Bank statements, plus CAD jobs and Trade Balance and AUD Retail Sales, GDP and Trade Balance, it is set up to be a week of potential volatility.\r\n\r\nLet me make a bit of an understatement.... this week is a big week for data and reactions to geopolitical events.... no kidding!\r\n\r\nIf you are new to the FX market, this week could be one to sit back and merely just observe the price action.\r\n\r\nFinally, in this section...\r\n\r\nI think that in the last 12 months I have written or mentioned crypto currencies only once and that was in section 5, which only PREMIUM SERVICE subscribers see. I was asked a question during the week as to why I do not talk about them?\r\n\r\nMy answer is very easy and clear.\r\n\r\nUntil they are fully regulated and safe to trade, I am not interested.\r\n\r\n<strong> </strong>\r\n<ol start=\"2\">\r\n 	<li><span style=\"font-size: 14pt;\"><strong> MARKET OVERVIEW – MY THOUGHTS:</strong></span><strong> </strong></li>\r\n</ol>\r\n<p style=\"text-align: center;\"><span style=\"font-size: 14pt;\"><strong>BREXIT AT A “MEXICAN STANDOFF”</strong></span></p>\r\nNow...\r\n\r\nWithout looking like I have read the book “THE ART OF THE DEAL”, I have to say that UK Prime Minister May’s fourth “APRES BREXIT” speech last Friday ticked lots of the boxes. Whilst the speech was just as much a speech to appeal to Conservative Party unity, it was also conciliatory for the EU in that she did NOT threaten to stamp her feet and walk away.\r\n\r\nWhether you rate Theresa May’s leadership or not, the speech hit every note that needed to be hit. She has to do this in my opinion.... why?\r\n\r\nNothing new here I’m afraid, it’s all to do with BREXIT CONTAGION.\r\n\r\nThe facts are very simple. The EU has as much, if not some would say, more to lose than the UK when the BREXIT finally happens.\r\n\r\nKeeping this very simple and straightforward, both the UK and the EU have lots to lose if they do not maintain equitable trade relations.\r\n\r\nIf the BREXIT agreement is seen as a “GOOD DEAL” to leave the EU, the fear from the EU is that the current EU27 (the number of countries currently members of the EUROPEAN UNION), could reduce to the EU25 or EU22... pick your own number.\r\n\r\nThe EU negotiating team led my Michel Barnier (Presently French Politician, ex. European Commissioner for Internal Market and Services 2010-2014) and supported by the likes of Donald Tusk (currently President of the European council and ex. Prime Minister of Poland) and Jean Claude Junker (President of the European commission and Luxembourg politician), are maintaining a HARD-RED LINE to demonstrate that, leaving the EU should be no “Bed of Roses”.\r\n\r\nThe simple facts are though, from my perspective that since the vote was taken via referendum to leave the EU by the UK voters in June 2016, very little appears to have happened by way of actually leaving.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2018/03/BREXIT-TIMELINE-03032018.png\"><img class=\"aligncenter size-large wp-image-11071\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2018/03/BREXIT-TIMELINE-03032018-985x1024.png\" alt=\"\" width=\"985\" height=\"1024\" /></a>\r\n\r\n&nbsp;\r\n\r\nFrom the chart above, basically following the trigger of Article 50 in March 2017 (a year ago) from my perspective it’s been a game of “HIGH STAKES CHICKEN” and a “MEXICAN STANDOFF” has taking hold. Neither side after stating their positions has really budged. You have to bear in mind, politicians rarely answer questions they state positions and all the major negotiators in the BREXIT from both sides are politicians at source.\r\n\r\nIn the past week both sides have literally regurgitated their positions under the pretext of breaking speeches important to the BREXIT negotiations.\r\n\r\nWill the negotiators meet the October deadline this year for a deal to be ratified by the EU27? The UK BREXIT date is 29<sup>th</sup> March 2019 at 23.00 CET.\r\n\r\nOK, so what has been done apart from both sides expelling a lot of hot air?\r\n\r\nThe EU Withdrawal Bill, which is intended to convert all existing EU laws into UK law to ensure there are no gaps in legislation on BREXIT day, has had two readings in the House of Commons and passed, however, it is now in the House of Lords who have said basically that it needs to be re-written!\r\n\r\nSo that\'s not much progress at all unless the re-writes can find support back in front of MP’s when it is pushed back and amended. It will require a commons committee to co-ordinate amendments. This will make it close to deadline day for signing into law, assuming that the “Lords” like the new wording and can ratify the paper on time and not create delays!\r\n\r\nThe sticking points seem to be only: -\r\n<ol>\r\n 	<li>CITIZENS RIGHTS - The ECJ (The European Court of Justice):It’s all about the role it plays in protecting the rights of EU citizens living and working in the UK following BREXIT. The hardline BREXIT MP’s say that regaining sovereignty means removing the UK from the meddling by EU judges. The UK has the same issues for British ex pats living around the EU.\r\n\r\nThis is a biggie. The EU does not want the UK meddling in its courts and vice-versa.</li>\r\n 	<li>The IRISH BORDER:Maybe a little naïve on my part but I thought this would not be a problem when heads were smacked together. I thought “Take a look at Switzerland”; which is not in the EU, you can drive in and out of Switzerland from Germany, France or Italy. There are no hard borders. Am I over simplifying this issue?\r\n\r\nThe trade agreement with Switzerland accommodates NO HARD BORDER.</li>\r\n 	<li>The DIVORCE BILL:The settlement amount to be paid by the UK to exit the EU has varied tremendously depending upon who is talking at the time and from which side of the negotiating table. It is now believed to be in the region €60 Billion (£50 Billion).\r\n\r\nThere are many people who say “BOLLOCKS, the UK has paid enough just walk away”. I hear these comments but from the UK government perspective, the BREXIT bill is really the price to pay for a future trade deal. From the EU perspective it is all about settling past debts (EU Staff pension, loan guarantees and aid scheme contributions such as Syrian refugees etc.)</li>\r\n 	<li>TRADE DEAL &amp; THE CUSTOMS UNION:This is at the centre of the debate at the moment the UK opposition leader Jeremy Corbyn wants a customs union. This basically would keep the UK in a “FREE TRADE ZONE”. Internally, the “zone” is free of tariffs, which are only charged at the “zones” point of entry.\r\n\r\nBy the letter, as far as I can see BREXIT = leaving the customs union. I therefore cannot understand how in the name of sanity Corbyn can adopt such a stance without going against the “will” of the people? On top of this minor point... the EU would view this as pure cherry picking and frankly unrealistic, more like political posturing than anything else.\r\n\r\nTheresa May outlined a proposal last Friday on trade, confirming the exit of the customs union but proposed having an associate status to charge and forward EU receipts and add any UK costs as items enter the ”zone”. Hmmn...Jeremy Corbyn revisited?\r\n\r\nThis is a massive area not just to get an agreement, but jobs and manufacturing businesses in both the UK and EU rest on this outcome. This will require huge debate between the UK and EU negotiators.</li>\r\n</ol>\r\nNow, there may be more sticking points, but these are the 4 that continue to resonate with me over and over again vis-à-vis the BREXIT negotiations.\r\n\r\nObviously, the UK position is to “Cherry Pick” and the EU position is to ensure the UK does not.\r\n\r\nThe next deadline is October this year, when there is a deadline for the deal to be completed.\r\n\r\nI still have my doubts that this timeline can be agreed. The UK will want a blanket agreement in order that it can have some flexibility in the future, to deal with potential one-off cases that could be missed during the negotiations. The EU has Brussels; Brussels is non-elected, full of expense drive bureaucrats, who’s existence is justified and possibly measured on how many i’s and t’s can be dotted and crossed.\r\n\r\nWe appear to have a “MEXICAN STANDOFF” both sides are more than happy to state their positions. As mentioned earlier, this is what politicians do. Whilst this can be viewing as amusing to some people, the clock is ticking away in the background.\r\n\r\nObviously, both sides will yield some ground in order to get an agreement, what the final draft looks like, who knows at this stage.\r\n\r\nFrom a trading perspective the continued uncertainty is weighing on the GBP but not EUR, which I admit surprises me a little. As I have said of late cross-rates offer the best opportunities and given TRUMP’s latest moves on tariffs, maybe staying away from the USD is also not a bad idea!\r\n\r\n&nbsp;\r\n<ol start=\"3\">\r\n 	<li><span style=\"font-size: 14pt;\"><strong>USD SUPPORT and RESISTANCE with my BIAS:</strong></span></li>\r\n</ol>\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2018/03/TCHART-03032018.png\"><img class=\"aligncenter size-large wp-image-11078\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2018/03/TCHART-03032018-1024x894.png\" alt=\"\" width=\"1024\" height=\"894\" /></a>\r\n\r\n<strong> </strong>\r\n<ol start=\"4\">\r\n 	<li><span style=\"font-size: 14pt;\"><strong>THE PREMIUM SERVICE TRADING SUMMARY:</strong></span></li>\r\n</ol>\r\n<u>PREMIUM SERVICE PERFORMANCE YEAR TO DATE:</u>\r\n\r\n(Incorporating the last 5 PREMIUM SERVICE TRADES)\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2018/03/PS-SUMMARY-03032018.png\"><img class=\"aligncenter size-large wp-image-11077\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2018/03/PS-SUMMARY-03032018-1024x869.png\" alt=\"\" width=\"1024\" height=\"869\" /></a>\r\n\r\nYou can get on board and join from as little as CAD$10 for 10 days and then CAD$150.00 per month, currency conversions for CAD$150 are roughly as follows: -\r\n\r\nGBP £90 per month\r\nEUR €100 per month\r\nUSD $120 per month\r\nJPY 12,700 per month\r\nAUD $150 per month\r\n\r\nThis represents a great value way to subscribe…  and a great RISK / REWARD!\r\n\r\nMoving on...\r\n\r\n<a href=\"mailto:d*****@gmail.com\">d*****@gmail.com</a> has won the monthly draw for a FREE 30-DAY subscription to the PREMIUM SERVICE. By the time this blog is posted hopefully he or she will be fully equipped with all the supporting data and ready to receive!\r\n<p style=\"text-align: center;\">Still more about THE PREMIUM SERVICE this week...</p>\r\n<p style=\"text-align: center;\">PREMIUM SERVICE – FEBRUARY 2108:\r\nThe PREMIUM SERVICE generated a total of 2,414 net pips, taking the year to date number to 3,892 pips.\r\n78% of trades in February made $$$\r\n22% of trades in February lost $$$\r\nYear to date it\'s a 74% / 26% ratio\r\nIn comparison to 2017, the PREMIUM SERVICE is 3,145 pips ahead of the year to date performance at the same time.</p>\r\nThe spreadsheet below shows you the potential earnings that were made in February and the year to date based upon being a trader who trades single or 5 lots of either MICRO, MINI or STANDARD size.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2018/03/PREMIUM-SERVICE-PERF.-JAN-FEB-2018.jpg\"><img class=\"aligncenter size-large wp-image-11065\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2018/03/PREMIUM-SERVICE-PERF.-JAN-FEB-2018-1024x829.jpg\" alt=\"\" width=\"1024\" height=\"829\" /></a>\r\n\r\nAs you can see from the spreadsheet above ALL types of traders even single micro lot traders would be positive after the first two months this year. Being realistic, I would NOT expect single micro lot traders to benefit much in a full year, but it does show that risking just $0.10 per trade can generate an income.\r\n\r\nFrom a longer-term perspective my thoughts are along the lines that from 5 x micro lots upwards, risking a minimum of just $0.50 cents per trade will generate a small positive income after costs. There are obviously no guarantees with income, I cannot guarantee this and as you know you trade with RISK. However, with managed RISK there are opportunities for micro lot traders.\r\n\r\nMoving up the scale single mini lot ($1.00 per trade) traders and above have since 2014 been able to generate a net income after costs have been applied and although there are still RISKS, again with RISK MANAGEMENT these RISKS can be managed.\r\n\r\nThe bottom line is that since 2014 the PREMIUM SERVICE has been profitable.\r\n\r\nTherefore...\r\n\r\nI am obviously delighted, over the moon, a happy bunny, you use whatever phrase or terminology you prefer but to say that 2018 has started with a bang is the second understatement I have made in this blog so far!\r\n\r\nYou can subscribe for periods as well. Go to my website <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a> for more details under the TAB – “SUBSCRIBE HERE”.\r\n\r\n<strong> </strong>\r\n<ol start=\"5\">\r\n 	<li><span style=\"font-size: 14pt;\"><strong>PREMIUM SERVICE SUBSCRIBERS:</strong></span></li>\r\n</ol>\r\n(This section is for PREMIUM SUBSCRIBERS ONLY)\r\n\r\n<u>5.1. TRADING REVIEW:</u>\r\n\r\n<u>5.2. SENTIMENT,</u><u> FUNDAMENTAL &amp; MACRO THOUGHTS</u><u>\r\n</u>\r\n\r\n<u>5.3. THE WEEK AHEAD:</u>\r\n\r\n<u>5.3.1. ECONOMIC DATA RELEASES THAT INTEREST ME:</u>\r\n\r\n<u>5.3.2. MY KEY EVENTS ON THIS WEEK’S CALENDAR AND WHY:</u>\r\n\r\n<u>5.3.3. HOW I WILL APPROACH and TRADE THE MARKET THIS WEEK:</u>\r\n\r\n<u>5.3.4. MY “MACRO” TRADING PLAN FOR THE WEEK AHEAD:</u>\r\n\r\n<u>5.4. CURRENT LIVE TRADES &amp; LIMIT ORDERS:</u>\r\n\r\n<u>5.4.1. CURRENT LIVE TRADES:\r\n</u>\r\n<u>5.4.2. CURRENT LIMIT ORDER TRADES:</u>\r\n\r\n<u>5.5. FX BROKER NEWS and MARKET FEEDBACK:</u>\r\n\r\n&nbsp;\r\n\r\n<strong> </strong>\r\n<ol start=\"6\">\r\n 	<li><span style=\"font-size: 14pt;\"><strong>THE FINAL SHOT:</strong></span></li>\r\n</ol>\r\nNothing more to add here, I have said enough except,\r\n\r\nAs usual…\r\n\r\nAlways remember longevity in Forex trading can only be achieved through trading with good RISK and MONEY MANAGEMENT, and above all set your position sizes in accordance with the size of your account and allow for some flexibility.\r\n\r\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: #272 FREE NEWSLETTER\r\nDATE: 3<sup>rd</sup> March 2018', 'BREXIT AT A “MEXICAN STANDOFF”', '', 'inherit', 'closed', 'closed', '', '11087-revision-v1', '', '', '2018-03-03 06:48:45', '2018-03-03 11:48:45', '', 11087, 'https://weeklyfxdrivethru.com/11087-revision-v1/', 0, 'revision', '', 0),
(11101, 1, '2018-03-08 06:00:40', '2018-03-08 11:00:40', '&nbsp;\r\n<ol>\r\n 	<li><span style=\"font-size: 14pt;\"><strong> THE FIRST SHOT:</strong></span></li>\r\n</ol>\r\nWelcome to the month of March.\r\n\r\nThe name of the month may have changed but the geopolitical and economic concerns that could send the FX market into either a tailspin or the ultimate short squeeze are still hanging over us like the “Sword of Damocles”.\r\n<ul>\r\n 	<li>ITALIAN ELECTIONS – COALITION PARTNERS UNCERTAINTY</li>\r\n 	<li>GERMANY - SPD PARTY VOTES ON COALITION DEAL with CDU</li>\r\n 	<li>BREXIT – EU &amp; UK IN GAME OF “HIGH STAKES CHICKEN”</li>\r\n 	<li>TRUMP – KICKING OFF A GLOBAL TRADE WAR</li>\r\n 	<li>JEROME POWELL – FED RATE HIKES in 2018</li>\r\n 	<li>US 10YR YIELDS if BREAK THROUGH 3% sets up 4.5%</li>\r\n 	<li>BOJ – CHANGE IN MONETARY POLICY RE QQE in 2019?</li>\r\n</ul>\r\nHappy days... It’s all good fun and it ensures that we remain vigilant whilst staring at our trading screens.\r\n\r\nI have often said jokingly to friends that trading Forex one has to “Rub your tummy and scratch your head both at the same time” just to keep up at times, and what fascinates me most about trading currencies is that when you look at the list above, some are currency positive, some are currency negative. It is the inter-market reactions and correlations that keep you on your toes. Even more so at the moment as many correlations are “off” and correlations “do matter” when trading currencies.\r\n\r\nSo, it looks like there will be some fun ahead this week and when you add into the mix a full range of economic data releases as well, such as U.S. Non-Farm Payrolls, ECB Press Conference and Policy decisions, BOJ, RBA and BOC interest rate decisions and Central Bank statements, plus CAD jobs and Trade Balance and AUD Retail Sales, GDP and Trade Balance, it is set up to be a week of potential volatility.\r\n\r\nLet me make a bit of an understatement.... this week is a big week for data and reactions to geopolitical events.... no kidding!\r\n\r\nIf you are new to the FX market, this week could be one to sit back and merely just observe the price action.\r\n\r\nFinally, in this section...\r\n\r\nI think that in the last 12 months I have written or mentioned crypto currencies only once and that was in section 5, which only PREMIUM SERVICE subscribers see. I was asked a question during the week as to why I do not talk about them?\r\n\r\nMy answer is very easy and clear.\r\n\r\nUntil they are fully regulated and safe to trade, I am not interested.\r\n\r\n<strong> </strong>\r\n<ol start=\"2\">\r\n 	<li><span style=\"font-size: 14pt;\"><strong> MARKET OVERVIEW – MY THOUGHTS:</strong></span><strong> </strong></li>\r\n</ol>\r\n<p style=\"text-align: center;\"><span style=\"font-size: 14pt;\"><strong>BREXIT AT A “MEXICAN STANDOFF”</strong></span></p>\r\nNow...\r\n\r\nWithout looking like I have read the book “THE ART OF THE DEAL”, I have to say that UK Prime Minister May’s fourth “APRES BREXIT” speech last Friday ticked lots of the boxes. Whilst the speech was just as much a speech to appeal to Conservative Party unity, it was also conciliatory for the EU in that she did NOT threaten to stamp her feet and walk away.\r\n\r\nWhether you rate Theresa May’s leadership or not, the speech hit every note that needed to be hit. She has to do this in my opinion.... why?\r\n\r\nNothing new here I’m afraid, it’s all to do with BREXIT CONTAGION.\r\n\r\nThe facts are very simple. The EU has as much, if not some would say, more to lose than the UK when the BREXIT finally happens.\r\n\r\nKeeping this very simple and straightforward, both the UK and the EU have lots to lose if they do not maintain equitable trade relations.\r\n\r\nIf the BREXIT agreement is seen as a “GOOD DEAL” to leave the EU, the fear from the EU is that the current EU27 (the number of countries currently members of the EUROPEAN UNION), could reduce to the EU25 or EU22... pick your own number.\r\n\r\nThe EU negotiating team led my Michel Barnier (Presently French Politician, ex. European Commissioner for Internal Market and Services 2010-2014) and supported by the likes of Donald Tusk (currently President of the European council and ex. Prime Minister of Poland) and Jean Claude Junker (President of the European commission and Luxembourg politician), are maintaining a HARD-RED LINE to demonstrate that, leaving the EU should be no “Bed of Roses”.\r\n\r\nThe simple facts are though, from my perspective that since the vote was taken via referendum to leave the EU by the UK voters in June 2016, very little appears to have happened by way of actually leaving.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2018/03/BREXIT-TIMELINE-03032018.png\"><img class=\"aligncenter size-large wp-image-11071\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2018/03/BREXIT-TIMELINE-03032018-985x1024.png\" alt=\"\" width=\"985\" height=\"1024\" /></a>\r\n\r\n&nbsp;\r\n\r\nFrom the chart above, basically following the trigger of Article 50 in March 2017 (a year ago) from my perspective it’s been a game of “HIGH STAKES CHICKEN” and a “MEXICAN STANDOFF” has taking hold. Neither side after stating their positions has really budged. You have to bear in mind, politicians rarely answer questions they state positions and all the major negotiators in the BREXIT from both sides are politicians at source.\r\n\r\nIn the past week both sides have literally regurgitated their positions under the pretext of breaking speeches important to the BREXIT negotiations.\r\n\r\nWill the negotiators meet the October deadline this year for a deal to be ratified by the EU27? The UK BREXIT date is 29<sup>th</sup> March 2019 at 23.00 CET.\r\n\r\nOK, so what has been done apart from both sides expelling a lot of hot air?\r\n\r\nThe EU Withdrawal Bill, which is intended to convert all existing EU laws into UK law to ensure there are no gaps in legislation on BREXIT day, has had two readings in the House of Commons and passed, however, it is now in the House of Lords who have said basically that it needs to be re-written!\r\n\r\nSo that\'s not much progress at all unless the re-writes can find support back in front of MP’s when it is pushed back and amended. It will require a commons committee to co-ordinate amendments. This will make it close to deadline day for signing into law, assuming that the “Lords” like the new wording and can ratify the paper on time and not create delays!\r\n\r\nThe sticking points seem to be only: -\r\n<ol>\r\n 	<li>CITIZENS RIGHTS - The ECJ (The European Court of Justice):It’s all about the role it plays in protecting the rights of EU citizens living and working in the UK following BREXIT. The hardline BREXIT MP’s say that regaining sovereignty means removing the UK from the meddling by EU judges. The UK has the same issues for British ex pats living around the EU.This is a biggie. The EU does not want the UK meddling in its courts and vice-versa.</li>\r\n 	<li>The IRISH BORDER:Maybe a little naïve on my part but I thought this would not be a problem when heads were smacked together. I thought “Take a look at Switzerland”; which is not in the EU, you can drive in and out of Switzerland from Germany, France or Italy. There are no hard borders. Am I over simplifying this issue?The trade agreement with Switzerland accommodates NO HARD BORDER.</li>\r\n 	<li>The DIVORCE BILL:The settlement amount to be paid by the UK to exit the EU has varied tremendously depending upon who is talking at the time and from which side of the negotiating table. It is now believed to be in the region €60 Billion (£50 Billion).There are many people who say “BOLLOCKS, the UK has paid enough just walk away”. I hear these comments but from the UK government perspective, the BREXIT bill is really the price to pay for a future trade deal. From the EU perspective it is all about settling past debts (EU Staff pension, loan guarantees and aid scheme contributions such as Syrian refugees etc.)</li>\r\n 	<li>TRADE DEAL &amp; THE CUSTOMS UNION:This is at the centre of the debate at the moment the UK opposition leader Jeremy Corbyn wants a customs union. This basically would keep the UK in a “FREE TRADE ZONE”. Internally, the “zone” is free of tariffs, which are only charged at the “zones” point of entry.By the letter, as far as I can see BREXIT = leaving the customs union. I therefore cannot understand how in the name of sanity Corbyn can adopt such a stance without going against the “will” of the people? On top of this minor point... the EU would view this as pure cherry picking and frankly unrealistic, more like political posturing than anything else.\r\n\r\nTheresa May outlined a proposal last Friday on trade, confirming the exit of the customs union but proposed having an associate status to charge and forward EU receipts and add any UK costs as items enter the ”zone”. Hmmn...Jeremy Corbyn revisited?\r\n\r\nThis is a massive area not just to get an agreement, but jobs and manufacturing businesses in both the UK and EU rest on this outcome. This will require huge debate between the UK and EU negotiators.</li>\r\n</ol>\r\nNow, there may be more sticking points, but these are the 4 that continue to resonate with me over and over again vis-à-vis the BREXIT negotiations.\r\n\r\nObviously, the UK position is to “Cherry Pick” and the EU position is to ensure the UK does not.\r\n\r\nThe next deadline is October this year, when there is a deadline for the deal to be completed.\r\n\r\nI still have my doubts that this timeline can be agreed. The UK will want a blanket agreement in order that it can have some flexibility in the future, to deal with potential one-off cases that could be missed during the negotiations. The EU has Brussels; Brussels is non-elected, full of expense drive bureaucrats, who’s existence is justified and possibly measured on how many i’s and t’s can be dotted and crossed.\r\n\r\nWe appear to have a “MEXICAN STANDOFF” both sides are more than happy to state their positions. As mentioned earlier, this is what politicians do. Whilst this can be viewing as amusing to some people, the clock is ticking away in the background.\r\n\r\nObviously, both sides will yield some ground in order to get an agreement, what the final draft looks like, who knows at this stage.\r\n\r\nFrom a trading perspective the continued uncertainty is weighing on the GBP but not EUR, which I admit surprises me a little. As I have said of late cross-rates offer the best opportunities and given TRUMP’s latest moves on tariffs, maybe staying away from the USD is also not a bad idea!\r\n\r\n&nbsp;\r\n<ol start=\"3\">\r\n 	<li><span style=\"font-size: 14pt;\"><strong>USD SUPPORT and RESISTANCE with my BIAS:</strong></span></li>\r\n</ol>\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2018/03/TCHART-03032018.png\"><img class=\"aligncenter size-large wp-image-11078\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2018/03/TCHART-03032018-1024x894.png\" alt=\"\" width=\"1024\" height=\"894\" /></a>\r\n\r\n<strong> </strong>\r\n<ol start=\"4\">\r\n 	<li><span style=\"font-size: 14pt;\"><strong>THE PREMIUM SERVICE TRADING SUMMARY:</strong></span></li>\r\n</ol>\r\n<u>PREMIUM SERVICE PERFORMANCE YEAR TO DATE:</u>\r\n\r\n(Incorporating the last 5 PREMIUM SERVICE TRADES)\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2018/03/PS-SUMMARY-03032018.png\"><img class=\"aligncenter size-large wp-image-11077\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2018/03/PS-SUMMARY-03032018-1024x869.png\" alt=\"\" width=\"1024\" height=\"869\" /></a>\r\n\r\nYou can get on board and join from as little as CAD$10 for 10 days and then CAD$150.00 per month, currency conversions for CAD$150 are roughly as follows: -\r\n\r\nGBP £90 per month\r\nEUR €100 per month\r\nUSD $120 per month\r\nJPY 12,700 per month\r\nAUD $150 per month\r\n\r\nThis represents a great value way to subscribe…  and a great RISK / REWARD!\r\n\r\nMoving on...\r\n\r\n<a href=\"mailto:d*****@gmail.com\">d*****@gmail.com</a> has won the monthly draw for a FREE 30-DAY subscription to the PREMIUM SERVICE. By the time this blog is posted hopefully he or she will be fully equipped with all the supporting data and ready to receive!\r\n<p style=\"text-align: center;\">Still more about THE PREMIUM SERVICE this week...</p>\r\n<p style=\"text-align: center;\">PREMIUM SERVICE – FEBRUARY 2108:\r\nThe PREMIUM SERVICE generated a total of 2,414 net pips, taking the year to date number to 3,892 pips.\r\n78% of trades in February made $$$\r\n22% of trades in February lost $$$\r\nYear to date it\'s a 74% / 26% ratio\r\nIn comparison to 2017, the PREMIUM SERVICE is 3,145 pips ahead of the year to date performance at the same time.</p>\r\nThe spreadsheet below shows you the potential earnings that were made in February and the year to date based upon being a trader who trades single or 5 lots of either MICRO, MINI or STANDARD size.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2018/03/PREMIUM-SERVICE-PERF.-JAN-FEB-2018.jpg\"><img class=\"aligncenter size-large wp-image-11065\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2018/03/PREMIUM-SERVICE-PERF.-JAN-FEB-2018-1024x829.jpg\" alt=\"\" width=\"1024\" height=\"829\" /></a>\r\n\r\nAs you can see from the spreadsheet above ALL types of traders even single micro lot traders would be positive after the first two months this year. Being realistic, I would NOT expect single micro lot traders to benefit much in a full year, but it does show that risking just $0.10 per trade can generate an income.\r\n\r\nFrom a longer-term perspective my thoughts are along the lines that from 5 x micro lots upwards, risking a minimum of just $0.50 cents per trade will generate a small positive income after costs. There are obviously no guarantees with income, I cannot guarantee this and as you know you trade with RISK. However, with managed RISK there are opportunities for micro lot traders.\r\n\r\nMoving up the scale single mini lot ($1.00 per trade) traders and above have since 2014 been able to generate a net income after costs have been applied and although there are still RISKS, again with RISK MANAGEMENT these RISKS can be managed.\r\n\r\nThe bottom line is that since 2014 the PREMIUM SERVICE has been profitable.\r\n\r\nTherefore...\r\n\r\nI am obviously delighted, over the moon, a happy bunny, you use whatever phrase or terminology you prefer but to say that 2018 has started with a bang is the second understatement I have made in this blog so far!\r\n\r\nYou can subscribe for periods as well. Go to my website <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a> for more details under the TAB – “SUBSCRIBE HERE”.\r\n\r\n<strong> </strong>\r\n<ol start=\"5\">\r\n 	<li><span style=\"font-size: 14pt;\"><strong>PREMIUM SERVICE SUBSCRIBERS:</strong></span></li>\r\n</ol>\r\n(This section is for PREMIUM SUBSCRIBERS ONLY)\r\n\r\n<u>5.1. TRADING REVIEW:</u>\r\n\r\n<u>5.2. SENTIMENT,</u><u> FUNDAMENTAL &amp; MACRO THOUGHTS</u><u>\r\n</u>\r\n\r\n<u>5.3. THE WEEK AHEAD:</u>\r\n\r\n<u>5.3.1. ECONOMIC DATA RELEASES THAT INTEREST ME:</u>\r\n\r\n<u>5.3.2. MY KEY EVENTS ON THIS WEEK’S CALENDAR AND WHY:</u>\r\n\r\n<u>5.3.3. HOW I WILL APPROACH and TRADE THE MARKET THIS WEEK:</u>\r\n\r\n<u>5.3.4. MY “MACRO” TRADING PLAN FOR THE WEEK AHEAD:</u>\r\n\r\n<u>5.4. CURRENT LIVE TRADES &amp; LIMIT ORDERS:</u>\r\n\r\n<u>5.4.1. CURRENT LIVE TRADES:\r\n</u>\r\n<u>5.4.2. CURRENT LIMIT ORDER TRADES:</u>\r\n\r\n<u>5.5. FX BROKER NEWS and MARKET FEEDBACK:</u>\r\n\r\n&nbsp;\r\n\r\n<strong> </strong>\r\n<ol start=\"6\">\r\n 	<li><span style=\"font-size: 14pt;\"><strong>THE FINAL SHOT:</strong></span></li>\r\n</ol>\r\nNothing more to add here, I have said enough except,\r\n\r\nAs usual…\r\n\r\nAlways remember longevity in Forex trading can only be achieved through trading with good RISK and MONEY MANAGEMENT, and above all set your position sizes in accordance with the size of your account and allow for some flexibility.\r\n\r\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: #272 FREE NEWSLETTER\r\nDATE: 3<sup>rd</sup> March 2018', 'BREXIT AT A “MEXICAN STANDOFF”', '', 'inherit', 'closed', 'closed', '', '11087-revision-v1', '', '', '2018-03-08 06:00:40', '2018-03-08 11:00:40', '', 11087, 'https://weeklyfxdrivethru.com/11087-revision-v1/', 0, 'revision', '', 0),
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(11114, 1, '2018-03-10 06:48:25', '2018-03-10 11:48:25', '&nbsp;\r\n<ol>\r\n 	<li><span style=\"font-size: 14pt;\"><strong> THE FIRST SHOT:</strong></span></li>\r\n</ol>\r\nAs mentioned in the last “DRIVE THRU”, I did not participate much at all in last week’s trading.\r\n\r\nI know to a lot of traders, my decision not to trade much, appeared strange and weird, considering that with so much economic data on the agenda the opportunity for volatility and the possible moves as a result, would seem appealing to most traders. I get that approach, and, understand that point of view. However, my decision was on the back of the fact that the market at the moment as far as I am concerned, is news driven. News driven to the point that FUNDAMENTALS, CORRELATIONS and to some extent even TECHNICALS appear not to matter at times. My blog title “IS TRUMP THE 2018 VERSION OF ELLIOT CARVER” will reveal all later in the blog.\r\n\r\nBelow is my list, from last week’s “DRIVE THRU” of geopolitical issues that were hanging over the markets. These factors were influential in my decision to wind back my trading last week.\r\n\r\nI have commented in BRACKETS below each bullet point with my updated comments.\r\n<ul>\r\n 	<li>ITALIAN ELECTIONS – COALITION PARTNERS UNCERTAINTY\r\n(Over 50% of Italian voters voted for extreme parties associated with EURO SKEPTICISM)</li>\r\n 	<li>GERMANY - SPD PARTY VOTES ON COALITION DEAL with CDU\r\n(SPD voting agreed coalition deal)</li>\r\n 	<li>BREXIT – EU &amp; UK IN GAME OF “HIGH STAKES CHICKEN”\r\n(EU bite back with Donald Tusk basically giving the UK the same trade deal as Canada)</li>\r\n 	<li>TRUMP – KICKING OFF A GLOBAL TRADE WAR\r\n(Still on-going)</li>\r\n 	<li>JEROME POWELL – FED RATE HIKES in 2018\r\n(Prior FED doves like Lael Brainard now turning hawkish. Rate hikes 3 or 4 in total look to be penciled in. At March FED meeting the first 2 could be inked in)</li>\r\n 	<li>US 10YR YIELDS if BREAK THROUGH 3% sets up 4.5%\r\n(Initially settled down and pulled back. NFP wage growth only pulled back 0.1% on yesterday’s NFP print. Markets very interested in U.S. inflation)</li>\r\n 	<li>BOJ – CHANGE IN MONETARY POLICY RE QQE in 2019?\r\n(Kuroda very dovish still from last week’s BOJ Press Conference)</li>\r\n</ul>\r\nWith all of the above plus the huge list of economic data it all looked like it was going to be a chop fest and provided that the range limits held, it would be a chop fest within ranges. From my point of view this is what happened, and my trading psyche does NOT enjoy this type of trading. I do not mind ranges but the mad chop which is what we saw last week is just not my bag.\r\n\r\nI suggested to “newbie” traders to sit it out last week. As mentioned already, some of the moves were fast and furious with no real direction and a basic disregard for sentiment. It would have been very easy to have your account blow up in your face if you did not trade with proper POSITION SIZING and TRADE MANAGEMENT principles in place. Chasing markets is NEVER a good strategy. The temptations last week were there for all to see. It was so easy to see how you could have been caught in the chop.\r\n\r\nIt is often said; “Sometimes your best trades are the ones that you do NOT take”\r\n\r\n<strong> </strong>\r\n<ol start=\"2\">\r\n 	<li><span style=\"font-size: 14pt;\"><strong> MARKET OVERVIEW – MY THOUGHTS:</strong></span></li>\r\n</ol>\r\n<p style=\"text-align: center;\"><span style=\"font-size: 14pt;\"><strong>IS TRUMP THE 2018 VERSION OF ELLIOT CARVER?\r\nand\r\nHOW DO I TRADE AROUND TRUMP?</strong></span></p>\r\nThere was a movie documentary released a few years ago titled “Who the f**k is Arthur Fogel?”. Prior to watching the movie, I had no idea.   Arthur Fogel is Canadian and CEO of the touring area of Live Nation Entertainment. He was the brains behind the funding of the “U2 360” tour, which was possibly one of best looking innovative stage sets and most complicated touring schedules ever put together. The guy has managed the biggest grossing tours in the music industry.\r\n\r\nSo....\r\n\r\nI can understand you saying, “Who the f**k is Elliot Carver?”\r\n\r\nHe was the media baddie from the “Tomorrow Never Dies” Bond movie. His goal was to dominate world news by creating the news for the world to read. Is TRUMP the 2018 version of Elliot Carver?\r\n\r\nLet me just confirm, I am NOT saying TRUMP has teams of security guards with AK-47’s going around killing off Mi6 agents. Having said that, I know he has huge armed security teams at his beck and call. Good Lord, there are more similarities than I originally thought! However, as far as I know, he is still a goodie and not a baddie!\r\n\r\nMoving on, before I write something that I shouldn’t ...\r\n\r\nI think it would be fair to say that TRUMP likes to control the narrative. He does not need to buy a TV station, as CNN in the U.S. has already taken the bait on the TRUMP headlines, it basically should be renamed TRUMP TV as its entire news outflow is dedicated 100% to TRUMP.\r\n\r\nSome well-known household names who are employed by CNN have their reputations on the line. The station to many, is no better than the gossip Daily Mail / TMZ stations that are available.\r\n\r\nTRUMP has CNN working like a puppet for him and TRUMP has complete control of the strings CNN appear both hopeless and helpless. The more they knock him the more the TRUMP base hardens in support for the President. At his press conferences, the CNN reporter has NO chance of ever getting a question to the President as they are in his words only a FAKE NEWS organization.  This adds fuel to fire and CNN cannot see that they are being played.\r\n\r\nThe media in the U.S. and around the world are just about understanding the power of direct media through TWITTER. The thoughts go straight to a connection there are then, its instant; no interpretation and no spin.\r\n\r\nThe issue to consider is therefore, is the data accurate?\r\n\r\nIf you control the narrative and you can call “FAKE NEWS” whenever you want and ignore the questions, then accuracy is not that important. It just has to be believable. As long as the TRUMP base believes the narrative there is no reason in the world why direct tweeting will ever stop.\r\n\r\nTRUMP has defended his recent tweets on Tariffs, on the basis that he is keeping to his Presidential campaign promises. In all honesty, I have to give the guy thumbs up here, most politicians once in office couldn’t give a rat’s ass about the promises that they made.\r\n\r\nFor example, take the time to read about last weekend’s ITALIAN election. Read the bullet points from parties involved manifestos. Then ask yourself under a voting system based upon proportional representation, when you have either minority governments or coalitions involved, how many of the items in the manifestos actually become a reality. Very little, it all becomes beige, no real colour. This is a huge problem of proportional representation as the electoral systems, the vast majority of times delivers weak governments that take months to form. Look at the last German election. The vote was held on September 24<sup>th</sup>, 2017. The new government is still NOT in place. Germany is seen as an example of efficiency... God help the Italians.\r\n\r\nThe UK has a “first past the post” electoral system, over 95% of all elections held have a majority government on a main three-party system.\r\n\r\nBack on track...\r\n\r\nThe U.S. has a basic two-party system with a President removed from voting. The system feeds the way that TRUMP operates and fair play to him he has exposed the failings of the U.S. system.\r\n\r\nWith regards to the recent news regarding Tariffs on Steel and Aluminum, TRUMP has a plan, being fair, there are good reasons for the strategy if the U.S. is getting a “bum” deal. The problem the markets have is dealing with TRUMP’s lack of tact and the total lack of the usual diplomacy one associates with these policy changes. It does however provide TRUMP with 100% control of the narrative, and, it is completely in keeping with character.\r\n\r\nEverything in the U.S. plays into TRUMP’s hand. As a previous reality TV host, he knows how to manipulate and control. He has brought these skills to 1600 Pennsylvania Avenue and what you saw on the campaign trail is now what you see as the President of the U.S.\r\n\r\nIn my opinion, there are similarities to the fictional character “Elliot Carver”.  In the way that TRUMP creates news, sensationalizes the news, grabs attention, creates shock and awe, the difference is that TRUMP then walks it back as moderates try to reason with him. Whereas, Elliot Carver was taking on James Bond... no chance of winning. TRUMP has taken on the U.S. media and has them tied up in knots.\r\n\r\nThere is a pattern every time to the way that TRUMP operates. It must be a nightmare to work with and the revolving doors of staff at the White House is testimony to that nightmare when you count the changes that have taken place.\r\n\r\nNow we have the meeting with Kim Jong Un, prior to May on denuclearization of the Korean peninsula. This news, and it is huge, feeds to narrative. If TRUMP comes away from meetings with a deal for peace there will be no stopping the rhetoric.\r\n\r\nIt will be worldwide news domination, not just domestic. This will feed the power, encourage him vis-à-vis past behaviours being the correct choices and so the web will spin out even wider.\r\n\r\nHow should you trade with this as a backdrop?\r\n\r\nLet me first say, my approach is evolving. The number of times, I read from experienced traders that they are not sure what to do, or cannot fathom out some of the moves, has NEVER been so high. I get this thought process.\r\n\r\nHow do I trade this...?\r\n\r\nIt’s not easy because it is basically chop every time that TRUMP opens his mouth to speak. The one factor that is more common than any other is that the DXY tends to weaken when TRUMP holds an audience. Having said that, this DOES NOT mean go short the USD every time TRUMP speaks. If only it was that simple.\r\n\r\nFirstly, being more of a swing to position trader, the first thing that I will say is to survive in this niche at the moment one has to be frugal vis-à-vis position sizing. My largest trades this year have been just 25%-33% of full size. In fact, for most of 2017 that was the case as well. The only exceptions have been my shorter-term duration FLASH and RADAR trade styles. Smaller position sizes give you the potential for larger stop losses for protection, without increasing your RISK exposure in $$$. Your potential losses in pips can be greater but losses in $$$ are still limited.\r\n\r\nIt is only if you trade big positions with the increased stop losses that you become un-glued. This is known as GAMBLING, not RISK MANAGEMENT.\r\n\r\nAt this juncture, let me state for the records once again to have trading longevity, you need to preserve your capital to the best of your ability. The only way that this can be done is through a TRADE PLAN with TRADE MANAGEMENT, MONEY MANAGEMENT and HEAD MANAGEMENT.\r\n\r\nIf you get your head around these principles, you have a good chance of survival.\r\n\r\nGetting back on point...\r\n\r\nSecondly, try not to be reactive but proactive with trades. My least successful trades are my reactive trades; FLASH and RADAR trades these are based on intra-day activity. If the markets are news driven and choppy it stands to reason these trades have the potential to be a mess.\r\n\r\nProactive trading is using pre-set entries via Fibonacci levels, using chart patterns that have probability outcomes. But you must trade smart. Smaller position sizes, be prepared for chop.\r\n\r\nThirdly, even with Fibonacci levels for targeted entries do not be afraid to take a profitable trade off the market earlier than planned. No-one has ever blown up their account for banking profits $$$.\r\n\r\nFourthly, you can remove loss making trades earlier as well. The one consistency with the FX market at the moment is that it is inconsistent! Correlations are off. The lunatics have to a large extent left the asylum. If you are not 100% happy take the loss. If you have positioned yourself properly with the trade your loss should be less than your TRADE PLAN guideline limits.\r\n\r\nIt is not easy at the moment. I am having a great month, a great start to the year with the PREMIUM SERVICE but I have a few longer-term trades that do not look so tidy at the moment.\r\n\r\nI am sitting back and observing more than anything at the moment. As I have stated already sometimes your best trades are the ones that you do not take. As one of my trading mentors said to me “There is a Forex market every day, wait until prices come to you do not chase prices”\r\n\r\nBack to TRUMP...\r\n\r\nWe have to acknowledge that fact that the political book is to a large extent being re-written. No matter where you are situated on this planet TRUMP’s words will affect your market, this is a fact.\r\n\r\nYou, me, all of us just have to be aware of increased RISKS and trade accordingly. Easier said than done sometimes but that\'s the top and bottom of it.\r\n\r\n<strong> </strong>\r\n<ol start=\"3\">\r\n 	<li><span style=\"font-size: 14pt;\"><strong>USD SUPPORT and RESISTANCE with my BIAS:</strong></span></li>\r\n</ol>\r\n&nbsp;\r\n\r\n<strong><a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2018/03/T-CHART-10032018.png\"><img class=\"aligncenter size-large wp-image-11104\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2018/03/T-CHART-10032018-1024x891.png\" alt=\"\" width=\"1024\" height=\"891\" /></a> </strong>\r\n\r\n&nbsp;\r\n<ol start=\"4\">\r\n 	<li><span style=\"font-size: 14pt;\"><strong>THE PREMIUM SERVICE TRADING SUMMARY:</strong></span></li>\r\n</ol>\r\n<u>PREMIUM SERVICE PERFORMANCE YEAR TO DATE:</u>\r\n\r\n(Incorporating the last 5 PREMIUM SERVICE TRADES)\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2018/03/PS-SUMMARY-10032018.png\"><img class=\"aligncenter size-large wp-image-11103\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2018/03/PS-SUMMARY-10032018-1024x863.png\" alt=\"\" width=\"1024\" height=\"863\" /></a>\r\n\r\nYou can get on board and join from as little as CAD$10 for 10 days and then CAD$150.00 per month, currency conversions for CAD$150 are roughly as follows: -\r\n\r\nGBP £90 per month\r\nEUR €100 per month\r\nUSD $120 per month\r\nJPY 12,700 per month\r\nAUD $150 per month\r\n\r\nThis represents a great value way to subscribe…\r\n\r\nGo to my website <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a> for more details under the TAB – “SUBSCRIBE HERE”.\r\n\r\n<strong> </strong>\r\n<ol start=\"5\">\r\n 	<li><span style=\"font-size: 14pt;\"><strong>PREMIUM SERVICE SUBSCRIBERS:</strong></span></li>\r\n</ol>\r\n(This section is for PREMIUM SUBSCRIBERS ONLY)\r\n\r\n<u>5.1. TRADING REVIEW:</u>\r\n\r\nJust to respond to some of the humorous emails received during the past week. I was NOT on holiday on a beach sipping Jack Daniels by the bucket load. I was at home in Nova Scotia at my screens working on software updates and chart analysis.\r\n\r\nAs I had written in last weeks “DRIVE THRU”, I was not happy with the geopolitical data and in a week with so much economic data being added together, it confused me and gave me little clarity on trading. I am glad I stepped back, I feel vindicated by that move as most of the time all I saw was a “Chop Fest” and all I read about was confusion, uncertainty in the sentiment and continual frustrations by the market being news driven.\r\n\r\nFor the week, I basically closed out of a few trades, got suckered in by the ECB written statement and screwed over by Draghi talking down the single currency. I added a few pips but my CONTINGENT LIABILITY on pips from live trades that I am holding is still an annoyance to me. As mentioned before, the losing pips are basically all contained inside POSITION TRADES, so I should not get too concerned. Nevertheless, it is an annoyance.\r\n\r\nLast week gave me a great opportunity to plan and consider my approach into Q2. With the geopolitical events moving forward, the TRUMP Tariffs getting more clarity, we enter a period when market sentiment appears to be changing and many currency pairs are consolidating recent moves, with most of them looking to turn direction.\r\n\r\nMy questions are; are these moves impulsive or corrective?\r\n\r\nThe jury is STILL out as far as I am concerned, and I am cautious. With regards to market sentiment and the attached RISK, as we have been in “Chop Fest” these tend to produce false moves.\r\n\r\n&nbsp;\r\n\r\n<u>5.2. SENTIMENT,</u><u> FUNDAMENTAL &amp; MACRO THOUGHTS</u><u>:</u>\r\n\r\n&nbsp;\r\n\r\nAs just stated I think that we are once again heading into a transition period with the market. Therefore, until I can see direction confirmed, I will remain on my guard.\r\n\r\nLong-term FUNDAMENTALS are unchanged. It is my entry timings that are not clear to me at the moment.\r\n\r\nBy currency my thoughts moving forward are at best as follows: -\r\n<ul>\r\n 	<li>Q2:\r\nSHORT NZD</li>\r\n</ul>\r\nand at this stage potentially LONG EUR, GBP, NOK and CAD plus SHORT JPY.\r\n<ul>\r\n 	<li>Q3:\r\nSHORT NZD\r\nStronger belief with EUR &amp; GBP LONG.</li>\r\n</ul>\r\nI hate being beige on this matter, but I don’t know. I cannot be 100% certain, the past 7-10 days may be a directional change.\r\n\r\nWhilst short / medium term sentiment may have changed I still see the USD (DXY) failing and moving towards the mid 80 level later this year. This may happen in conjunction with the ECB. It is difficult to call. If I knew the answer, let’s be honest here, I probably would not be writing this blog!!\r\n\r\nIf you look at the SENTIMENT CHART below, the USD is all over the map. For me, this is comforting as it is telling me that my indecision has some basis and that I am not losing my mind.\r\n\r\nUntil, the market modifies behavior, we should in my opinion remain very aware of RISK.\r\n\r\nCentral Banks last week were far more guarded than of late. I take the Central Bank statements very seriously and even with the coded messages, the Governors are being very cautious and Conservative.  Even Mario Draghi last week was sooooo dovish, yet I read the statement to be relatively hawkish. From these people, I take my lead.\r\n\r\nNevertheless, I have a number of trades to place early this week based on what I believe represents good value and great RISK / REWARD opportunities. I am not saying be so cautious as not to trade. I am saying be more picky.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2018/03/SENTIMENT-10032018.png\"><img class=\"aligncenter size-large wp-image-11115\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2018/03/SENTIMENT-10032018-786x1024.png\" alt=\"\" width=\"786\" height=\"1024\" /></a>\r\n\r\n<u>5.3. THE WEEK AHEAD:</u>\r\n\r\n<u>5.3.1. ECONOMIC DATA RELEASES THAT INTEREST ME:</u>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2018/03/ECON-DATA-10032018.png\"><img class=\"aligncenter size-large wp-image-11105\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2018/03/ECON-DATA-10032018-1024x884.png\" alt=\"\" width=\"1024\" height=\"884\" /></a>\r\n\r\n&nbsp;\r\n\r\n<u>5.3.2. MY KEY EVENTS ON THIS WEEK’S CALENDAR AND WHY:</u>\r\n\r\n<u>USD: CPi, Core CPi, PPi, Core Retail Sales and Retail Sales.</u>\r\n\r\nInflation and Consumer Confidence related data is treated as GOLD by the U.S. markets at the moment.\r\n\r\nThe impact of this data will help formulate a medium-term trading plan from which to build on\r\n\r\n&nbsp;\r\n\r\n<u>CAD: BOC Governor, Stephen Poloz speaks.</u>\r\n\r\nThere was no press conference at the last BOC interest rate decision and policy statement release. Deputy Governor Lane, has been on the wires, but I want to hear from Poloz.\r\n\r\nThere is a lot to listen out for, Tariffs, NAFTA, up and down mixed data. Poloz has stated that the interest rate policy for the CAD moving forward is data dependent. I am very conscious of the fact that the interest rate relationship vis-à-vis the USD will be on Poloz’s mind. He cannot afford to be behind the curve. The FED look like they will be hiking 4 times this year.\r\n\r\n<u>\r\nEUR: ECB President Mario Draghi speaks.</u>\r\n\r\nI will be checking for consistencies with the Press Conference comments last week. He was overly dovish.\r\n\r\n&nbsp;\r\n\r\n<u>NZD: GDP.</u>\r\n\r\nBeing totally selfish and selling my own book. I apologize for the kiwis reading this, but I hope the number is a bloody disaster.\r\n\r\n&nbsp;\r\n\r\n<u>5.3.3. HOW I WILL APPROACH and TRADE THE MARKET THIS WEEK:</u>\r\n\r\nI am looking to add several trades at the beginning of the week. I have set-ups ready to go with the EUR/USD, EUR/CHF, USD/JPY, NZD/JPY, AUD/JPY, USD/NOK and USD/CAD. As soon as I feel comfortable to post them, they will be out.\r\n\r\nAs mentioned previously, we are in consolidation / transition mode and I need confirmations before establishing more RISK positions.\r\n\r\nI am not 100% happy with my GBP cross rate trades. Whilst, they are POSITION TRADES, I may add some more into position when things settle down. Some of the price ranges that we are approaching represent opportunist good value, and I want to be in a position, if possible to capitalize on recent moves.\r\n\r\nTherefore, my market approach will be on the side of caution and restrain.\r\n\r\n&nbsp;\r\n\r\n<u>\r\n</u><u>5.3.4. MY “MACRO” TRADING PLAN FOR THE WEEK AHEAD:</u>\r\n\r\nIn the background this week, I will be working hard on setting goals / objectives into my TRADE PLAN to accommodate my fundamental thoughts moving into Q2 and Q3.\r\n<ol>\r\n 	<li>Add NZD trades where appropriate.</li>\r\n 	<li>Look at establishing EUR long positions for the medium and longer terms.</li>\r\n</ol>\r\nBeyond these immediate goals, I think I would be wasting time planning strategies when we are in a period of market transition.\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n<u>5.4. CURRENT LIVE TRADES &amp; LIMIT ORDERS:</u>\r\n\r\n<u>5.4.1. CURRENT LIVE TRADES:</u>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2018/03/LIVE-TRADES-10032018.png\"><img class=\"aligncenter size-large wp-image-11108\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2018/03/LIVE-TRADES-10032018-667x1024.png\" alt=\"\" width=\"667\" height=\"1024\" /></a>\r\n\r\n<u>5.4.2. CURRENT LIMIT ORDER TRADES:</u>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2018/03/LIMIT-ORDERS-10032018.png\"><img class=\"aligncenter size-large wp-image-11107\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2018/03/LIMIT-ORDERS-10032018-844x1024.png\" alt=\"\" width=\"844\" height=\"1024\" /></a>\r\n\r\n&nbsp;\r\n\r\n<u>5.5. FX BROKER NEWS and MARKET FEEDBACK:</u>\r\n\r\nNothing to report this week from brokers. It has been exceptionally quiet once again.\r\n\r\n&nbsp;\r\n\r\n<u>5.6. PREMIUM SERVICE UPDATES:</u>\r\n\r\nI have had a few communications of late from several of you with ideas on reporting and requesting additional daily information on currency pairs.\r\n\r\nI have everything under review. As you know I have been attempting some software updates of late and communication options were part of the aborted updates.\r\n\r\nI am looking to separate the PREMIUM SERVICE completely from the WEEKLY FX DRIVE THRU website moving forward and it looks like this may take place pre Q3, but nothing is confirmed yet.\r\n\r\nI love receiving all the ideas, it helps me focus on what you guys like to receive. The only limiting factor from my perspective is time to produce the requests that does not interfere with chart analysis and my daily routines too much.\r\n\r\nI will communicate on an individual basis and if any the changes make it to the light of day, I will advise here.\r\n\r\n<strong> </strong>\r\n\r\n<strong> </strong>\r\n<ol start=\"6\">\r\n 	<li><span style=\"font-size: 14pt;\"><strong>THE FINAL SHOT:</strong></span></li>\r\n</ol>\r\nNothing more to add here, I have said enough except,\r\n\r\nAs usual…\r\n\r\nAlways remember longevity in Forex trading can only be achieved through trading with good RISK and MONEY MANAGEMENT, and above all set your position sizes in accordance with the size of your account and allow for some flexibility.\r\n\r\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: #169 PREMIUM SERVICE\r\nDATE: 10th March 2018', 'IS TRUMP THE 2018 VERSION OF ELLIOT CARVER?', '', 'publish', 'open', 'closed', '', 'is-trump-the-2018-version-of-elliot-carver', '', '', '2018-03-10 06:48:25', '2018-03-10 11:48:25', '', 0, 'https://weeklyfxdrivethru.com/?post_type=member_posts&#038;p=11114', 0, 'member_posts', '', 0),
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(11116, 1, '2018-03-10 06:05:07', '2018-03-10 11:05:07', '&nbsp;\r\n<ol>\r\n 	<li><span style=\"font-size: 14pt;\"><strong> THE FIRST SHOT:</strong></span></li>\r\n</ol>\r\nAs mentioned in the last “DRIVE THRU”, I did not participate much at all in last week’s trading.\r\n\r\nI know to a lot of traders, my decision not to trade much, appeared strange and weird, considering that with so much economic data on the agenda the opportunity for volatility and the possible moves as a result, would seem appealing to most traders. I get that approach, and, understand that point of view. However, my decision was on the back of the fact that the market at the moment as far as I am concerned, is news driven. News driven to the point that FUNDAMENTALS, CORRELATIONS and to some extent even TECHNICALS appear not to matter at times. My blog title “IS TRUMP THE 2018 VERSION OF ELLIOT CARVER” will reveal all later in the blog.\r\n\r\nBelow is my list, from last week’s “DRIVE THRU” of geopolitical issues that were hanging over the markets. These factors were influential in my decision to wind back my trading last week.\r\n\r\nI have commented in BRACKETS below each bullet point with my updated comments.\r\n<ul>\r\n 	<li>ITALIAN ELECTIONS – COALITION PARTNERS UNCERTAINTY\r\n(Over 50% of Italian voters voted for extreme parties associated with EURO SKEPTICISM)</li>\r\n 	<li>GERMANY - SPD PARTY VOTES ON COALITION DEAL with CDU\r\n(SPD voting agreed coalition deal)</li>\r\n 	<li>BREXIT – EU &amp; UK IN GAME OF “HIGH STAKES CHICKEN”\r\n(EU bite back with Donald Tusk basically giving the UK the same trade deal as Canada)</li>\r\n 	<li>TRUMP – KICKING OFF A GLOBAL TRADE WAR\r\n(Still on-going)</li>\r\n 	<li>JEROME POWELL – FED RATE HIKES in 2018\r\n(Prior FED doves like Lael Brainard now turning hawkish. Rate hikes 3 or 4 in total look to be penciled in. At March FED meeting the first 2 could be inked in)</li>\r\n 	<li>US 10YR YIELDS if BREAK THROUGH 3% sets up 4.5%\r\n(Initially settled down and pulled back. NFP wage growth only pulled back 0.1% on yesterday’s NFP print. Markets very interested in U.S. inflation)</li>\r\n 	<li>BOJ – CHANGE IN MONETARY POLICY RE QQE in 2019?\r\n(Kuroda very dovish still from last week’s BOJ Press Conference)</li>\r\n</ul>\r\nWith all of the above plus the huge list of economic data it all looked like it was going to be a chop fest and provided that the range limits held, it would be a chop fest within ranges. From my point of view this is what happened, and my trading psyche does NOT enjoy this type of trading. I do not mind ranges but the mad chop which is what we saw last week is just not my bag.\r\n\r\nI suggested to “newbie” traders to sit it out last week. As mentioned already, some of the moves were fast and furious with no real direction and a basic disregard for sentiment. It would have been very easy to have your account blow up in your face if you did not trade with proper POSITION SIZING and TRADE MANAGEMENT principles in place. Chasing markets is NEVER a good strategy. The temptations last week were there for all to see. It was so easy to see how you could have been caught in the chop.\r\n\r\nIt is often said; “Sometimes your best trades are the ones that you do NOT take”\r\n\r\n<strong> </strong>\r\n<ol start=\"2\">\r\n 	<li><span style=\"font-size: 14pt;\"><strong> MARKET OVERVIEW – MY THOUGHTS:</strong></span></li>\r\n</ol>\r\n<p style=\"text-align: center;\"><span style=\"font-size: 14pt;\"><strong>IS TRUMP THE 2018 VERSION OF ELLIOT CARVER?\r\nand\r\nHOW DO I TRADE AROUND TRUMP?</strong></span></p>\r\nThere was a movie documentary released a few years ago titled “Who the f**k is Arthur Fogel?”. Prior to watching the movie, I had no idea.   Arthur Fogel is Canadian and CEO of the touring area of Live Nation Entertainment. He was the brains behind the funding of the “U2 360” tour, which was possibly one of best looking innovative stage sets and most complicated touring schedules ever put together. The guy has managed the biggest grossing tours in the music industry.\r\n\r\nSo....\r\n\r\nI can understand you saying, “Who the f**k is Elliot Carver?”\r\n\r\nHe was the media baddie from the “Tomorrow Never Dies” Bond movie. His goal was to dominate world news by creating the news for the world to read. Is TRUMP the 2018 version of Elliot Carver?\r\n\r\nLet me just confirm, I am NOT saying TRUMP has teams of security guards with AK-47’s going around killing off Mi6 agents. Having said that, I know he has huge armed security teams at his beck and call. Good Lord, there are more similarities than I originally thought! However, as far as I know, he is still a goodie and not a baddie!\r\n\r\nMoving on, before I write something that I shouldn’t ...\r\n\r\nI think it would be fair to say that TRUMP likes to control the narrative. He does not need to buy a TV station, as CNN in the U.S. has already taken the bait on the TRUMP headlines, it basically should be renamed TRUMP TV as its entire news outflow is dedicated 100% to TRUMP.\r\n\r\nSome well-known household names who are employed by CNN have their reputations on the line. The station to many, is no better than the gossip Daily Mail / TMZ stations that are available.\r\n\r\nTRUMP has CNN working like a puppet for him and TRUMP has complete control of the strings CNN appear both hopeless and helpless. The more they knock him the more the TRUMP base hardens in support for the President. At his press conferences, the CNN reporter has NO chance of ever getting a question to the President as they are in his words only a FAKE NEWS organization.  This adds fuel to fire and CNN cannot see that they are being played.\r\n\r\nThe media in the U.S. and around the world are just about understanding the power of direct media through TWITTER. The thoughts go straight to a connection there are then, its instant; no interpretation and no spin.\r\n\r\nThe issue to consider is therefore, is the data accurate?\r\n\r\nIf you control the narrative and you can call “FAKE NEWS” whenever you want and ignore the questions, then accuracy is not that important. It just has to be believable. As long as the TRUMP base believes the narrative there is no reason in the world why direct tweeting will ever stop.\r\n\r\nTRUMP has defended his recent tweets on Tariffs, on the basis that he is keeping to his Presidential campaign promises. In all honesty, I have to give the guy thumbs up here, most politicians once in office couldn’t give a rat’s ass about the promises that they made.\r\n\r\nFor example, take the time to read about last weekend’s ITALIAN election. Read the bullet points from parties involved manifestos. Then ask yourself under a voting system based upon proportional representation, when you have either minority governments or coalitions involved, how many of the items in the manifestos actually become a reality. Very little, it all becomes beige, no real colour. This is a huge problem of proportional representation as the electoral systems, the vast majority of times delivers weak governments that take months to form. Look at the last German election. The vote was held on September 24<sup>th</sup>, 2017. The new government is still NOT in place. Germany is seen as an example of efficiency... God help the Italians.\r\n\r\nThe UK has a “first past the post” electoral system, over 95% of all elections held have a majority government on a main three-party system.\r\n\r\nBack on track...\r\n\r\nThe U.S. has a basic two-party system with a President removed from voting. The system feeds the way that TRUMP operates and fair play to him he has exposed the failings of the U.S. system.\r\n\r\nWith regards to the recent news regarding Tariffs on Steel and Aluminum, TRUMP has a plan, being fair, there are good reasons for the strategy if the U.S. is getting a “bum” deal. The problem the markets have is dealing with TRUMP’s lack of tact and the total lack of the usual diplomacy one associates with these policy changes. It does however provide TRUMP with 100% control of the narrative, and, it is completely in keeping with character.\r\n\r\nEverything in the U.S. plays into TRUMP’s hand. As a previous reality TV host, he knows how to manipulate and control. He has brought these skills to 1600 Pennsylvania Avenue and what you saw on the campaign trail is now what you see as the President of the U.S.\r\n\r\nIn my opinion, there are similarities to the fictional character “Elliot Carver”.  In the way that TRUMP creates news, sensationalizes the news, grabs attention, creates shock and awe, the difference is that TRUMP then walks it back as moderates try to reason with him. Whereas, Elliot Carver was taking on James Bond... no chance of winning. TRUMP has taken on the U.S. media and has them tied up in knots.\r\n\r\nThere is a pattern every time to the way that TRUMP operates. It must be a nightmare to work with and the revolving doors of staff at the White House is testimony to that nightmare when you count the changes that have taken place.\r\n\r\nNow we have the meeting with Kim Jong Un, prior to May on denuclearization of the Korean peninsula. This news, and it is huge, feeds to narrative. If TRUMP comes away from meetings with a deal for peace there will be no stopping the rhetoric.\r\n\r\nIt will be worldwide news domination, not just domestic. This will feed the power, encourage him vis-à-vis past behaviours being the correct choices and so the web will spin out even wider.\r\n\r\nHow should you trade with this as a backdrop?\r\n\r\nLet me first say, my approach is evolving. The number of times, I read from experienced traders that they are not sure what to do, or cannot fathom out some of the moves, has NEVER been so high. I get this thought process.\r\n\r\nHow do I trade this...?\r\n\r\nIt’s not easy because it is basically chop every time that TRUMP opens his mouth to speak. The one factor that is more common than any other is that the DXY tends to weaken when TRUMP holds an audience. Having said that, this DOES NOT mean go short the USD every time TRUMP speaks. If only it was that simple.\r\n\r\nFirstly, being more of a swing to position trader, the first thing that I will say is to survive in this niche at the moment one has to be frugal vis-à-vis position sizing. My largest trades this year have been just 25%-33% of full size. In fact, for most of 2017 that was the case as well. The only exceptions have been my shorter-term duration FLASH and RADAR trade styles. Smaller position sizes give you the potential for larger stop losses for protection, without increasing your RISK exposure in $$$. Your potential losses in pips can be greater but losses in $$$ are still limited.\r\n\r\nIt is only if you trade big positions with the increased stop losses that you become un-glued. This is known as GAMBLING, not RISK MANAGEMENT.\r\n\r\nAt this juncture, let me state for the records once again to have trading longevity, you need to preserve your capital to the best of your ability. The only way that this can be done is through a TRADE PLAN with TRADE MANAGEMENT, MONEY MANAGEMENT and HEAD MANAGEMENT.\r\n\r\nIf you get your head around these principles, you have a good chance of survival.\r\n\r\nGetting back on point...\r\n\r\nSecondly, try not to be reactive but proactive with trades. My least successful trades are my reactive trades; FLASH and RADAR trades these are based on intra-day activity. If the markets are news driven and choppy it stands to reason these trades have the potential to be a mess.\r\n\r\nProactive trading is using pre-set entries via Fibonacci levels, using chart patterns that have probability outcomes. But you must trade smart. Smaller position sizes, be prepared for chop.\r\n\r\nThirdly, even with Fibonacci levels for targeted entries do not be afraid to take a profitable trade off the market earlier than planned. No-one has ever blown up their account for banking profits $$$.\r\n\r\nFourthly, you can remove loss making trades earlier as well. The one consistency with the FX market at the moment is that it is inconsistent! Correlations are off. The lunatics have to a large extent left the asylum. If you are not 100% happy take the loss. If you have positioned yourself properly with the trade your loss should be less than your TRADE PLAN guideline limits.\r\n\r\nIt is not easy at the moment. I am having a great month, a great start to the year with the PREMIUM SERVICE but I have a few longer-term trades that do not look so tidy at the moment.\r\n\r\nI am sitting back and observing more than anything at the moment. As I have stated already sometimes your best trades are the ones that you do not take. As one of my trading mentors said to me “There is a Forex market every day, wait until prices come to you do not chase prices”\r\n\r\nBack to TRUMP...\r\n\r\nWe have to acknowledge that fact that the political book is to a large extent being re-written. No matter where you are situated on this planet TRUMP’s words will affect your market, this is a fact.\r\n\r\nYou, me, all of us just have to be aware of increased RISKS and trade accordingly. Easier said than done sometimes but that\'s the top and bottom of it.\r\n\r\n<strong> </strong>\r\n<ol start=\"3\">\r\n 	<li><span style=\"font-size: 14pt;\"><strong>USD SUPPORT and RESISTANCE with my BIAS:</strong></span></li>\r\n</ol>\r\n&nbsp;\r\n\r\n<strong><a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2018/03/T-CHART-10032018.png\"><img class=\"aligncenter size-large wp-image-11104\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2018/03/T-CHART-10032018-1024x891.png\" alt=\"\" width=\"1024\" height=\"891\" /></a> </strong>\r\n\r\n&nbsp;\r\n<ol start=\"4\">\r\n 	<li><span style=\"font-size: 14pt;\"><strong>THE PREMIUM SERVICE TRADING SUMMARY:</strong></span></li>\r\n</ol>\r\n<u>PREMIUM SERVICE PERFORMANCE YEAR TO DATE:</u>\r\n\r\n(Incorporating the last 5 PREMIUM SERVICE TRADES)\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2018/03/PS-SUMMARY-10032018.png\"><img class=\"aligncenter size-large wp-image-11103\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2018/03/PS-SUMMARY-10032018-1024x863.png\" alt=\"\" width=\"1024\" height=\"863\" /></a>\r\n\r\nYou can get on board and join from as little as CAD$10 for 10 days and then CAD$150.00 per month, currency conversions for CAD$150 are roughly as follows: -\r\n\r\nGBP £90 per month\r\nEUR €100 per month\r\nUSD $120 per month\r\nJPY 12,700 per month\r\nAUD $150 per month\r\n\r\nThis represents a great value way to subscribe…\r\n\r\nGo to my website <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a> for more details under the TAB – “SUBSCRIBE HERE”.\r\n\r\n<strong> </strong>\r\n<ol start=\"5\">\r\n 	<li><span style=\"font-size: 14pt;\"><strong>PREMIUM SERVICE SUBSCRIBERS:</strong></span></li>\r\n</ol>\r\n(This section is for PREMIUM SUBSCRIBERS ONLY)\r\n\r\n<u>5.1. TRADING REVIEW:</u>\r\n\r\nJust to respond to some of the humorous emails received during the past week. I was NOT on holiday on a beach sipping Jack Daniels by the bucket load. I was at home in Nova Scotia at my screens working on software updates and chart analysis.\r\n\r\nAs I had written in last weeks “DRIVE THRU”, I was not happy with the geopolitical data and in a week with so much economic data being added together, it confused me and gave me little clarity on trading. I am glad I stepped back, I feel vindicated by that move as most of the time all I saw was a “Chop Fest” and all I read about was confusion, uncertainty in the sentiment and continual frustrations by the market being news driven.\r\n\r\nFor the week, I basically closed out of a few trades, got suckered in by the ECB written statement and screwed over by Draghi talking down the single currency. I added a few pips but my CONTINGENT LIABILITY on pips from live trades that I am holding is still an annoyance to me. As mentioned before, the losing pips are basically all contained inside POSITION TRADES, so I should not get too concerned. Nevertheless, it is an annoyance.\r\n\r\nLast week gave me a great opportunity to plan and consider my approach into Q2. With the geopolitical events moving forward, the TRUMP Tariffs getting more clarity, we enter a period when market sentiment appears to be changing and many currency pairs are consolidating recent moves, with most of them looking to turn direction.\r\n\r\nMy questions are; are these moves impulsive or corrective?\r\n\r\nThe jury is STILL out as far as I am concerned, and I am cautious. With regards to market sentiment and the attached RISK, as we have been in “Chop Fest” these tend to produce false moves.\r\n\r\n&nbsp;\r\n\r\n<u>5.2. SENTIMENT,</u><u> FUNDAMENTAL &amp; MACRO THOUGHTS</u><u>:\r\n\r\n</u>\r\n\r\nAs just stated I think that we are once again heading into a transition period with the market. Therefore, until I can see direction confirmed, I will remain on my guard.\r\n\r\nLong-term FUNDAMENTALS are unchanged. It is my entry timings that are not clear to me at the moment.\r\n\r\nBy currency my thoughts moving forward are at best as follows: -\r\n<ul>\r\n 	<li>Q2:\r\nSHORT NZD</li>\r\n</ul>\r\nand at this stage potentially LONG EUR, GBP, NOK and CAD plus SHORT JPY.\r\n<ul>\r\n 	<li>Q3:\r\nSHORT NZD\r\nStronger belief with EUR &amp; GBP LONG.</li>\r\n</ul>\r\nI hate being beige on this matter, but I don’t know. I cannot be 100% certain, the past 7-10 days may be a directional change.\r\n\r\nWhilst short / medium term sentiment may have changed I still see the USD (DXY) failing and moving towards the mid 80 level later this year. This may happen in conjunction with the ECB. It is difficult to call. If I knew the answer, let’s be honest here, I probably would not be writing this blog!!\r\n\r\nIf you look at the SENTIMENT CHART below, the USD is all over the map. For me, this is comforting as it is telling me that my indecision has some basis and that I am not losing my mind.\r\n\r\nUntil, the market modifies behavior, we should in my opinion remain very aware of RISK.\r\n\r\nCentral Banks last week were far more guarded than of late. I take the Central Bank statements very seriously and even with the coded messages, the Governors are being very cautious and Conservative.  Even Mario Draghi last week was sooooo dovish, yet I read the statement to be relatively hawkish. From these people, I take my lead.\r\n\r\nNevertheless, I have a number of trades to place early this week based on what I believe represents good value and great RISK / REWARD opportunities. I am not saying be so cautious as not to trade. I am saying be more picky.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2018/03/SENTIMENT-10032018.png\"><img class=\"aligncenter size-large wp-image-11115\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2018/03/SENTIMENT-10032018-786x1024.png\" alt=\"\" width=\"786\" height=\"1024\" /></a>\r\n\r\n<u>5.3. THE WEEK AHEAD:</u>\r\n\r\n<u>5.3.1. ECONOMIC DATA RELEASES THAT INTEREST ME:</u>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2018/03/ECON-DATA-10032018.png\"><img class=\"aligncenter size-large wp-image-11105\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2018/03/ECON-DATA-10032018-1024x884.png\" alt=\"\" width=\"1024\" height=\"884\" /></a>\r\n\r\n&nbsp;\r\n\r\n<u>5.3.2. MY KEY EVENTS ON THIS WEEK’S CALENDAR AND WHY:</u>\r\n\r\n<u>USD: CPi, Core CPi, PPi, Core Retail Sales and Retail Sales.</u>\r\n\r\nInflation and Consumer Confidence related data is treated as GOLD by the U.S. markets at the moment.\r\n\r\nThe impact of this data will help formulate a medium-term trading plan from which to build on\r\n\r\n&nbsp;\r\n\r\n<u>CAD: BOC Governor, Stephen Poloz speaks.</u>\r\n\r\nThere was no press conference at the last BOC interest rate decision and policy statement release. Deputy Governor Lane, has been on the wires, but I want to hear from Poloz.\r\n\r\nThere is a lot to listen out for, Tariffs, NAFTA, up and down mixed data. Poloz has stated that the interest rate policy for the CAD moving forward is data dependent. I am very conscious of the fact that the interest rate relationship vis-à-vis the USD will be on Poloz’s mind. He cannot afford to be behind the curve. The FED look like they will be hiking 4 times this year.\r\n\r\n<u>\r\nEUR: ECB President Mario Draghi speaks.</u>\r\n\r\nI will be checking for consistencies with the Press Conference comments last week. He was overly dovish.\r\n\r\n&nbsp;\r\n\r\n<u>NZD: GDP.</u>\r\n\r\nBeing totally selfish and selling my own book. I apologize for the kiwis reading this, but I hope the number is a bloody disaster.\r\n\r\n&nbsp;\r\n\r\n<u>5.3.3. HOW I WILL APPROACH and TRADE THE MARKET THIS WEEK:</u>\r\n\r\nI am looking to add several trades at the beginning of the week. I have set-ups ready to go with the EUR/USD, EUR/CHF, USD/JPY, NZD/JPY, AUD/JPY, USD/NOK and USD/CAD. As soon as I feel comfortable to post them, they will be out.\r\n\r\nAs mentioned previously, we are in consolidation / transition mode and I need confirmations before establishing more RISK positions.\r\n\r\nI am not 100% happy with my GBP cross rate trades. Whilst, they are POSITION TRADES, I may add some more into position when things settle down. Some of the price ranges that we are approaching represent opportunist good value, and I want to be in a position, if possible to capitalize on recent moves.\r\n\r\nTherefore, my market approach will be on the side of caution and restrain.\r\n\r\n&nbsp;\r\n\r\n<u>\r\n</u><u>5.3.4. MY “MACRO” TRADING PLAN FOR THE WEEK AHEAD:</u>\r\n\r\nIn the background this week, I will be working hard on setting goals / objectives into my TRADE PLAN to accommodate my fundamental thoughts moving into Q2 and Q3.\r\n<ol>\r\n 	<li>Add NZD trades where appropriate.</li>\r\n 	<li>Look at establishing EUR long positions for the medium and longer terms.</li>\r\n</ol>\r\nBeyond these immediate goals, I think I would be wasting time planning strategies when we are in a period of market transition.\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n<u>5.4. CURRENT LIVE TRADES &amp; LIMIT ORDERS:</u>\r\n\r\n<u>5.4.1. CURRENT LIVE TRADES:\r\n\r\n</u>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2018/03/LIVE-TRADES-10032018.png\"><img class=\"aligncenter size-large wp-image-11108\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2018/03/LIVE-TRADES-10032018-667x1024.png\" alt=\"\" width=\"667\" height=\"1024\" /></a>\r\n\r\n<u>5.4.2. CURRENT LIMIT ORDER TRADES:</u>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2018/03/LIMIT-ORDERS-10032018.png\"><img class=\"aligncenter size-large wp-image-11107\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2018/03/LIMIT-ORDERS-10032018-844x1024.png\" alt=\"\" width=\"844\" height=\"1024\" /></a>\r\n\r\n&nbsp;\r\n\r\n<u>5.5. FX BROKER NEWS and MARKET FEEDBACK:</u>\r\n\r\nNothing to report this week from brokers. It has been exceptionally quiet once again.\r\n\r\n&nbsp;\r\n\r\n<u>5.6. PREMIUM SERVICE UPDATES:</u>\r\n\r\nI have had a few communications of late from several of you with ideas on reporting and requesting additional daily information on currency pairs.\r\n\r\nI have everything under review. As you know I have been attempting some software updates of late and communication options were part of the aborted updates.\r\n\r\nI am looking to separate the PREMIUM SERVICE completely from the WEEKLY FX DRIVE THRU website moving forward and it looks like this may take place pre Q3, but nothing is confirmed yet.\r\n\r\nI love receiving all the ideas, it helps me focus on what you guys like to receive. The only limiting factor from my perspective is time to produce the requests that does not interfere with chart analysis and my daily routines too much.\r\n\r\nI will communicate on an individual basis and if any the changes make it to the light of day, I will advise here.\r\n\r\n<strong> </strong>\r\n\r\n<strong> </strong>\r\n<ol start=\"6\">\r\n 	<li><span style=\"font-size: 14pt;\"><strong>THE FINAL SHOT:</strong></span></li>\r\n</ol>\r\nNothing more to add here, I have said enough except,\r\n\r\nAs usual…\r\n\r\nAlways remember longevity in Forex trading can only be achieved through trading with good RISK and MONEY MANAGEMENT, and above all set your position sizes in accordance with the size of your account and allow for some flexibility.\r\n\r\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: #169 PREMIUM SERVICE\r\nDATE: 10th March 2018', 'IS TRUMP THE 2018 VERSION OF ELLIOT CARVER?', '', 'inherit', 'closed', 'closed', '', '11114-revision-v1', '', '', '2018-03-10 06:05:07', '2018-03-10 11:05:07', '', 11114, 'https://weeklyfxdrivethru.com/11114-revision-v1/', 0, 'revision', '', 0),
(11117, 1, '2018-03-10 06:49:42', '2018-03-10 11:49:42', '&nbsp;\r\n<ol>\r\n 	<li><span style=\"font-size: 14pt;\"><strong> THE FIRST SHOT:</strong><strong> </strong></span></li>\r\n</ol>\r\nAs mentioned in the last “DRIVE THRU”, I did not participate much at all in last week’s trading.\r\n\r\nI know to a lot of traders, my decision not to trade much, appeared strange and weird, considering that with so much economic data on the agenda the opportunity for volatility and the possible moves as a result, would seem appealing to most traders. I get that approach, and, understand that point of view. However, my decision was on the back of the fact that the market at the moment as far as I am concerned, is news driven. News driven to the point that FUNDAMENTALS, CORRELATIONS and to some extent even TECHNICALS appear not to matter at times. My blog title “IS TRUMP THE 2018 VERSION OF ELLIOT CARVER” will reveal all later in the blog.\r\n\r\nBelow is my list, from last week’s “DRIVE THRU” of geopolitical issues that were hanging over the markets. These factors were influential in my decision to wind back my trading last week.\r\n\r\nI have commented in BRACKETS below each bullet point with my updated comments.\r\n<ul>\r\n 	<li>ITALIAN ELECTIONS – COALITION PARTNERS UNCERTAINTY\r\n(Over 50% of Italian voters voted for extreme parties associated with EURO SKEPTICISM)</li>\r\n 	<li>GERMANY - SPD PARTY VOTES ON COALITION DEAL with CDU\r\n(SPD voting agreed coalition deal)</li>\r\n 	<li>BREXIT – EU &amp; UK IN GAME OF “HIGH STAKES CHICKEN”\r\n(EU bite back with Donald Tusk basically giving the UK the same trade deal as Canada)</li>\r\n 	<li>TRUMP – KICKING OFF A GLOBAL TRADE WAR\r\n(Still on-going)</li>\r\n 	<li>JEROME POWELL – FED RATE HIKES in 2018\r\n(Prior FED doves like Lael Brainard now turning hawkish. Rate hikes 3 or 4 in total look to be penciled in. At March FED meeting the first 2 could be inked in)</li>\r\n 	<li>US 10YR YIELDS if BREAK THROUGH 3% sets up 4.5%\r\n(Initially settled down and pulled back. NFP wage growth only pulled back 0.1% on yesterday’s NFP print. Markets very interested in U.S. inflation)</li>\r\n 	<li>BOJ – CHANGE IN MONETARY POLICY RE QQE in 2019?\r\n(Kuroda very dovish still from last week’s BOJ Press Conference)</li>\r\n</ul>\r\nWith all of the above plus the huge list of economic data it all looked like it was going to be a chop fest and provided that the range limits held, it would be a chop fest within ranges. From my point of view this is what happened, and my trading psyche does NOT enjoy this type of trading. I do not mind ranges but the mad chop which is what we saw last week is just not my bag.\r\n\r\nI suggested to “newbie” traders to sit it out last week. As mentioned already, some of the moves were fast and furious with no real direction and a basic disregard for sentiment. It would have been very easy to have your account blow up in your face if you did not trade with proper POSITION SIZING and TRADE MANAGEMENT principles in place. Chasing markets is NEVER a good strategy. The temptations last week were there for all to see. It was so easy to see how you could have been caught in the chop.\r\n\r\nIt is often said; “Sometimes your best trades are the ones that you do NOT take”\r\n\r\n&nbsp;\r\n<ol start=\"2\">\r\n 	<li><span style=\"font-size: 14pt;\"><strong> MARKET OVERVIEW – MY THOUGHTS:</strong></span></li>\r\n</ol>\r\n<p style=\"text-align: center;\"><span style=\"font-size: 14pt;\"><strong>IS TRUMP THE 2018 VERSION OF ELLIOT CARVER?\r\nand\r\nHOW DO I TRADE AROUND TRUMP?</strong></span></p>\r\nThere was a movie documentary released a few years ago titled “Who the f**k is Arthur Fogel?”. Prior to watching the movie, I had no idea.   Arthur Fogel is Canadian and CEO of the touring area of Live Nation Entertainment. He was the brains behind the funding of the “U2 360” tour, which was possibly one of best looking innovative stage sets and most complicated touring schedules ever put together. The guy has managed the biggest grossing tours in the music industry.\r\n\r\nSo....\r\n\r\nI can understand you saying, “Who the f**k is Elliot Carver?”\r\n\r\nHe was the media baddie from the “Tomorrow Never Dies” Bond movie. His goal was to dominate world news by creating the news for the world to read. Is TRUMP the 2018 version of Elliot Carver?\r\n\r\nLet me just confirm, I am NOT saying TRUMP has teams of security guards with AK-47’s going around killing off Mi6 agents. Having said that, I know he has huge armed security teams at his beck and call. Good Lord, there are more similarities than I originally thought! However, as far as I know, he is still a goodie and not a baddie!\r\n\r\nMoving on, before I write something that I shouldn’t ...\r\n\r\nI think it would be fair to say that TRUMP likes to control the narrative. He does not need to buy a TV station, as CNN in the U.S. has already taken the bait on the TRUMP headlines, it basically should be renamed TRUMP TV as its entire news outflow is dedicated 100% to TRUMP.\r\n\r\nSome well-known household names who are employed by CNN have their reputations on the line. The station to many, is no better than the gossip Daily Mail / TMZ stations that are available.\r\n\r\nTRUMP has CNN working like a puppet for him and TRUMP has complete control of the strings CNN appear both hopeless and helpless. The more they knock him the more the TRUMP base hardens in support for the President. At his press conferences, the CNN reporter has NO chance of ever getting a question to the President as they are in his words only a FAKE NEWS organization.  This adds fuel to fire and CNN cannot see that they are being played.\r\n\r\nThe media in the U.S. and around the world are just about understanding the power of direct media through TWITTER. The thoughts go straight to a connection there are then, its instant; no interpretation and no spin.\r\n\r\nThe issue to consider is therefore, is the data accurate?\r\n\r\nIf you control the narrative and you can call “FAKE NEWS” whenever you want and ignore the questions, then accuracy is not that important. It just has to be believable. As long as the TRUMP base believes the narrative there is no reason in the world why direct tweeting will ever stop.\r\n\r\nTRUMP has defended his recent tweets on Tariffs, on the basis that he is keeping to his Presidential campaign promises. In all honesty, I have to give the guy thumbs up here, most politicians once in office couldn’t give a rat’s ass about the promises that they made.\r\n\r\nFor example, take the time to read about last weekend’s ITALIAN election. Read the bullet points from parties involved manifestos. Then ask yourself under a voting system based upon proportional representation, when you have either minority governments or coalitions involved, how many of the items in the manifestos actually become a reality. Very little, it all becomes beige, no real colour. This is a huge problem of proportional representation as the electoral systems, the vast majority of times delivers weak governments that take months to form. Look at the last German election. The vote was held on September 24<sup>th</sup>, 2017. The new government is still NOT in place. Germany is seen as an example of efficiency... God help the Italians.\r\n\r\nThe UK has a “first past the post” electoral system, over 95% of all elections held have a majority government on a main three-party system.\r\n\r\nBack on track...\r\n\r\nThe U.S. has a basic two-party system with a President removed from voting. The system feeds the way that TRUMP operates and fair play to him he has exposed the failings of the U.S. system.\r\n\r\nWith regards to the recent news regarding Tariffs on Steel and Aluminum, TRUMP has a plan, being fair, there are good reasons for the strategy if the U.S. is getting a “bum” deal. The problem the markets have is dealing with TRUMP’s lack of tact and the total lack of the usual diplomacy one associates with these policy changes. It does however provide TRUMP with 100% control of the narrative, and, it is completely in keeping with character.\r\n\r\nEverything in the U.S. plays into TRUMP’s hand. As a previous reality TV host, he knows how to manipulate and control. He has brought these skills to 1600 Pennsylvania Avenue and what you saw on the campaign trail is now what you see as the President of the U.S.\r\n\r\nIn my opinion, there are similarities to the fictional character “Elliot Carver”.  In the way that TRUMP creates news, sensationalizes the news, grabs attention, creates shock and awe, the difference is that TRUMP then walks it back as moderates try to reason with him. Whereas, Elliot Carver was taking on James Bond... no chance of winning. TRUMP has taken on the U.S. media and has them tied up in knots.\r\n\r\nThere is a pattern every time to the way that TRUMP operates. It must be a nightmare to work with and the revolving doors of staff at the White House is testimony to that nightmare when you count the changes that have taken place.\r\n\r\nNow we have the meeting with Kim Jong Un, prior to May on denuclearization of the Korean peninsula. This news, and it is huge, feeds to narrative. If TRUMP comes away from meetings with a deal for peace there will be no stopping the rhetoric.\r\n\r\nIt will be worldwide news domination, not just domestic. This will feed the power, encourage him vis-à-vis past behaviours being the correct choices and so the web will spin out even wider.\r\n\r\nHow should you trade with this as a backdrop?\r\n\r\nLet me first say, my approach is evolving. The number of times, I read from experienced traders that they are not sure what to do, or cannot fathom out some of the moves, has NEVER been so high. I get this thought process.\r\n\r\nHow do I trade this...?\r\n\r\nIt’s not easy because it is basically chop every time that TRUMP opens his mouth to speak. The one factor that is more common than any other is that the DXY tends to weaken when TRUMP holds an audience. Having said that, this DOES NOT mean go short the USD every time TRUMP speaks. If only it was that simple.\r\n\r\nFirstly, being more of a swing to position trader, the first thing that I will say is to survive in this niche at the moment one has to be frugal vis-à-vis position sizing. My largest trades this year have been just 25%-33% of full size. In fact, for most of 2017 that was the case as well. The only exceptions have been my shorter-term duration FLASH and RADAR trade styles. Smaller position sizes give you the potential for larger stop losses for protection, without increasing your RISK exposure in $$$. Your potential losses in pips can be greater but losses in $$$ are still limited.\r\n\r\nIt is only if you trade big positions with the increased stop losses that you become un-glued. This is known as GAMBLING, not RISK MANAGEMENT.\r\n\r\nAt this juncture, let me state for the records once again to have trading longevity, you need to preserve your capital to the best of your ability. The only way that this can be done is through a TRADE PLAN with TRADE MANAGEMENT, MONEY MANAGEMENT and HEAD MANAGEMENT.\r\n\r\nIf you get your head around these principles, you have a good chance of survival.\r\n\r\nGetting back on point...\r\n\r\nSecondly, try not to be reactive but proactive with trades. My least successful trades are my reactive trades; FLASH and RADAR trades these are based on intra-day activity. If the markets are news driven and choppy it stands to reason these trades have the potential to be a mess.\r\nProactive trading is using pre-set entries via Fibonacci levels, using chart patterns that have probability outcomes. But you must trade smart. Smaller position sizes, be prepared for chop.\r\n\r\nThirdly, even with Fibonacci levels for targeted entries do not be afraid to take a profitable trade off the market earlier than planned. No-one has ever blown up their account for banking profits $$$.\r\n\r\nFourthly, you can remove loss making trades earlier as well. The one consistency with the FX market at the moment is that it is inconsistent! Correlations are off. The lunatics have to a large extent left the asylum. If you are not 100% happy take the loss. If you have positioned yourself properly with the trade your loss should be less than your TRADE PLAN guideline limits.\r\n\r\nIt is not easy at the moment. I am having a great month, a great start to the year with the PREMIUM SERVICE but I have a few longer-term trades that do not look so tidy at the moment.\r\n\r\nI am sitting back and observing more than anything at the moment. As I have stated already sometimes your best trades are the ones that you do not take. As one of my trading mentors said to me “There is a Forex market every day, wait until prices come to you do not chase prices”\r\n\r\nBack to TRUMP...\r\n\r\nWe have to acknowledge that fact that the political book is to a large extent being re-written. No matter where you are situated on this planet TRUMP’s words will affect your market, this is a fact.\r\n\r\nYou, me, all of us just have to be aware of increased RISKS and trade accordingly. Easier said than done sometimes but that\'s the top and bottom of it.\r\n\r\n<strong> </strong>\r\n<ol start=\"3\">\r\n 	<li><span style=\"font-size: 14pt;\"><strong>USD SUPPORT and RESISTANCE with my BIAS:</strong></span></li>\r\n</ol>\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2018/03/T-CHART-10032018.png\"><img class=\"aligncenter size-large wp-image-11104\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2018/03/T-CHART-10032018-1024x891.png\" alt=\"\" width=\"1024\" height=\"891\" /></a>\r\n\r\n<strong> </strong><strong> </strong>\r\n<ol start=\"4\">\r\n 	<li><span style=\"font-size: 14pt;\"><strong>THE PREMIUM SERVICE TRADING SUMMARY:</strong></span></li>\r\n</ol>\r\n<u>PREMIUM SERVICE PERFORMANCE YEAR TO DATE:</u>\r\n\r\n(Incorporating the last 5 PREMIUM SERVICE TRADES)\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2018/03/PS-SUMMARY-10032018.png\"><img class=\"aligncenter size-large wp-image-11103\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2018/03/PS-SUMMARY-10032018-1024x863.png\" alt=\"\" width=\"1024\" height=\"863\" /></a>\r\n\r\nYou can get on board and join from as little as CAD$10 for 10 days and then CAD$150.00 per month, currency conversions for CAD$150 are roughly as follows: -\r\n\r\nGBP £90 per month\r\nEUR €100 per month\r\nUSD $120 per month\r\nJPY 12,700 per month\r\nAUD $150 per month\r\n\r\nThis represents a great value way to subscribe…\r\n\r\nGo to my website <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a> for more details under the TAB – “SUBSCRIBE HERE”.\r\n\r\n&nbsp;\r\n\r\n<strong> </strong>\r\n<ol start=\"5\">\r\n 	<li><span style=\"font-size: 14pt;\"><strong>PREMIUM SERVICE SUBSCRIBERS:</strong></span></li>\r\n</ol>\r\n(This section is for PREMIUM SUBSCRIBERS ONLY)\r\n<u>5.1. TRADING REVIEW:</u>\r\n\r\n<u>5.2. SENTIMENT,</u><u> FUNDAMENTAL &amp; MACRO THOUGHTS</u><u>:\r\n</u>\r\n\r\n<u>5.3. THE WEEK AHEAD:</u>\r\n\r\n<u>5.3.1. ECONOMIC DATA RELEASES THAT INTEREST ME:</u>\r\n\r\n<u>5.3.2. MY KEY EVENTS ON THIS WEEK’S CALENDAR AND WHY:</u>\r\n\r\n<u>5.3.3. HOW I WILL APPROACH and TRADE THE MARKET THIS WEEK:</u>\r\n\r\n<u>5.3.4. MY “MACRO” TRADING PLAN FOR THE WEEK AHEAD:</u>\r\n\r\n<u>5.4. CURRENT LIVE TRADES &amp; LIMIT ORDERS:</u>\r\n\r\n<u>5.4.1. CURRENT LIVE TRADES:\r\n</u>\r\n<u>5.4.2. CURRENT LIMIT ORDER TRADES:</u>\r\n\r\n<u>5.5. FX BROKER NEWS and MARKET FEEDBACK:</u>\r\n\r\n<u>5.6. PREMIUM SERVICE UPDATES:</u>\r\n\r\n<strong> </strong>\r\n<ol start=\"6\">\r\n 	<li><span style=\"font-size: 14pt;\"><strong>THE FINAL SHOT:</strong></span></li>\r\n</ol>\r\nNothing more to add here, I have said enough except,\r\n\r\nAs usual…\r\n\r\nAlways remember longevity in Forex trading can only be achieved through trading with good RISK and MONEY MANAGEMENT, and above all set your position sizes in accordance with the size of your account and allow for some flexibility.\r\n\r\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: #273 FREE NEWSLETTER\r\nDATE: 10th March 2018', 'IS TRUMP THE 2018 VERSION OF ELLIOT CARVER?', '', 'publish', 'open', 'closed', '', 'is-trump-the-2018-version-of-elliot-carver', '', '', '2018-03-10 06:49:42', '2018-03-10 11:49:42', '', 0, 'https://weeklyfxdrivethru.com/?p=11117', 0, 'post', '', 0);
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(11118, 1, '2018-03-10 06:15:26', '2018-03-10 11:15:26', '&nbsp;\r\n<ol>\r\n 	<li><span style=\"font-size: 14pt;\"><strong> THE FIRST SHOT:</strong><strong> </strong></span></li>\r\n</ol>\r\nAs mentioned in the last “DRIVE THRU”, I did not participate much at all in last week’s trading.\r\n\r\nI know to a lot of traders, my decision not to trade much, appeared strange and weird, considering that with so much economic data on the agenda the opportunity for volatility and the possible moves as a result, would seem appealing to most traders. I get that approach, and, understand that point of view. However, my decision was on the back of the fact that the market at the moment as far as I am concerned, is news driven. News driven to the point that FUNDAMENTALS, CORRELATIONS and to some extent even TECHNICALS appear not to matter at times. My blog title “IS TRUMP THE 2018 VERSION OF ELLIOT CARVER” will reveal all later in the blog.\r\n\r\nBelow is my list, from last week’s “DRIVE THRU” of geopolitical issues that were hanging over the markets. These factors were influential in my decision to wind back my trading last week.\r\n\r\nI have commented in BRACKETS below each bullet point with my updated comments.\r\n<ul>\r\n 	<li>ITALIAN ELECTIONS – COALITION PARTNERS UNCERTAINTY\r\n(Over 50% of Italian voters voted for extreme parties associated with EURO SKEPTICISM)</li>\r\n 	<li>GERMANY - SPD PARTY VOTES ON COALITION DEAL with CDU\r\n(SPD voting agreed coalition deal)</li>\r\n 	<li>BREXIT – EU &amp; UK IN GAME OF “HIGH STAKES CHICKEN”\r\n(EU bite back with Donald Tusk basically giving the UK the same trade deal as Canada)</li>\r\n 	<li>TRUMP – KICKING OFF A GLOBAL TRADE WAR\r\n(Still on-going)</li>\r\n 	<li>JEROME POWELL – FED RATE HIKES in 2018\r\n(Prior FED doves like Lael Brainard now turning hawkish. Rate hikes 3 or 4 in total look to be penciled in. At March FED meeting the first 2 could be inked in)</li>\r\n 	<li>US 10YR YIELDS if BREAK THROUGH 3% sets up 4.5%\r\n(Initially settled down and pulled back. NFP wage growth only pulled back 0.1% on yesterday’s NFP print. Markets very interested in U.S. inflation)</li>\r\n 	<li>BOJ – CHANGE IN MONETARY POLICY RE QQE in 2019?\r\n(Kuroda very dovish still from last week’s BOJ Press Conference)</li>\r\n</ul>\r\nWith all of the above plus the huge list of economic data it all looked like it was going to be a chop fest and provided that the range limits held, it would be a chop fest within ranges. From my point of view this is what happened, and my trading psyche does NOT enjoy this type of trading. I do not mind ranges but the mad chop which is what we saw last week is just not my bag.\r\n\r\nI suggested to “newbie” traders to sit it out last week. As mentioned already, some of the moves were fast and furious with no real direction and a basic disregard for sentiment. It would have been very easy to have your account blow up in your face if you did not trade with proper POSITION SIZING and TRADE MANAGEMENT principles in place. Chasing markets is NEVER a good strategy. The temptations last week were there for all to see. It was so easy to see how you could have been caught in the chop.\r\n\r\nIt is often said; “Sometimes your best trades are the ones that you do NOT take”\r\n\r\n&nbsp;\r\n<ol start=\"2\">\r\n 	<li><span style=\"font-size: 14pt;\"><strong> MARKET OVERVIEW – MY THOUGHTS:</strong></span></li>\r\n</ol>\r\n<p style=\"text-align: center;\"><span style=\"font-size: 14pt;\"><strong>IS TRUMP THE 2018 VERSION OF ELLIOT CARVER?\r\nand\r\nHOW DO I TRADE AROUND TRUMP?</strong></span></p>\r\nThere was a movie documentary released a few years ago titled “Who the f**k is Arthur Fogel?”. Prior to watching the movie, I had no idea.   Arthur Fogel is Canadian and CEO of the touring area of Live Nation Entertainment. He was the brains behind the funding of the “U2 360” tour, which was possibly one of best looking innovative stage sets and most complicated touring schedules ever put together. The guy has managed the biggest grossing tours in the music industry.\r\n\r\nSo....\r\n\r\nI can understand you saying, “Who the f**k is Elliot Carver?”\r\n\r\nHe was the media baddie from the “Tomorrow Never Dies” Bond movie. His goal was to dominate world news by creating the news for the world to read. Is TRUMP the 2018 version of Elliot Carver?\r\n\r\nLet me just confirm, I am NOT saying TRUMP has teams of security guards with AK-47’s going around killing off Mi6 agents. Having said that, I know he has huge armed security teams at his beck and call. Good Lord, there are more similarities than I originally thought! However, as far as I know, he is still a goodie and not a baddie!\r\n\r\nMoving on, before I write something that I shouldn’t ...\r\n\r\nI think it would be fair to say that TRUMP likes to control the narrative. He does not need to buy a TV station, as CNN in the U.S. has already taken the bait on the TRUMP headlines, it basically should be renamed TRUMP TV as its entire news outflow is dedicated 100% to TRUMP.\r\n\r\nSome well-known household names who are employed by CNN have their reputations on the line. The station to many, is no better than the gossip Daily Mail / TMZ stations that are available.\r\n\r\nTRUMP has CNN working like a puppet for him and TRUMP has complete control of the strings CNN appear both hopeless and helpless. The more they knock him the more the TRUMP base hardens in support for the President. At his press conferences, the CNN reporter has NO chance of ever getting a question to the President as they are in his words only a FAKE NEWS organization.  This adds fuel to fire and CNN cannot see that they are being played.\r\n\r\nThe media in the U.S. and around the world are just about understanding the power of direct media through TWITTER. The thoughts go straight to a connection there are then, its instant; no interpretation and no spin.\r\n\r\nThe issue to consider is therefore, is the data accurate?\r\n\r\nIf you control the narrative and you can call “FAKE NEWS” whenever you want and ignore the questions, then accuracy is not that important. It just has to be believable. As long as the TRUMP base believes the narrative there is no reason in the world why direct tweeting will ever stop.\r\n\r\nTRUMP has defended his recent tweets on Tariffs, on the basis that he is keeping to his Presidential campaign promises. In all honesty, I have to give the guy thumbs up here, most politicians once in office couldn’t give a rat’s ass about the promises that they made.\r\n\r\nFor example, take the time to read about last weekend’s ITALIAN election. Read the bullet points from parties involved manifestos. Then ask yourself under a voting system based upon proportional representation, when you have either minority governments or coalitions involved, how many of the items in the manifestos actually become a reality. Very little, it all becomes beige, no real colour. This is a huge problem of proportional representation as the electoral systems, the vast majority of times delivers weak governments that take months to form. Look at the last German election. The vote was held on September 24<sup>th</sup>, 2017. The new government is still NOT in place. Germany is seen as an example of efficiency... God help the Italians.\r\n\r\nThe UK has a “first past the post” electoral system, over 95% of all elections held have a majority government on a main three-party system.\r\n\r\nBack on track...\r\n\r\nThe U.S. has a basic two-party system with a President removed from voting. The system feeds the way that TRUMP operates and fair play to him he has exposed the failings of the U.S. system.\r\n\r\nWith regards to the recent news regarding Tariffs on Steel and Aluminum, TRUMP has a plan, being fair, there are good reasons for the strategy if the U.S. is getting a “bum” deal. The problem the markets have is dealing with TRUMP’s lack of tact and the total lack of the usual diplomacy one associates with these policy changes. It does however provide TRUMP with 100% control of the narrative, and, it is completely in keeping with character.\r\n\r\nEverything in the U.S. plays into TRUMP’s hand. As a previous reality TV host, he knows how to manipulate and control. He has brought these skills to 1600 Pennsylvania Avenue and what you saw on the campaign trail is now what you see as the President of the U.S.\r\n\r\nIn my opinion, there are similarities to the fictional character “Elliot Carver”.  In the way that TRUMP creates news, sensationalizes the news, grabs attention, creates shock and awe, the difference is that TRUMP then walks it back as moderates try to reason with him. Whereas, Elliot Carver was taking on James Bond... no chance of winning. TRUMP has taken on the U.S. media and has them tied up in knots.\r\n\r\nThere is a pattern every time to the way that TRUMP operates. It must be a nightmare to work with and the revolving doors of staff at the White House is testimony to that nightmare when you count the changes that have taken place.\r\n\r\nNow we have the meeting with Kim Jong Un, prior to May on denuclearization of the Korean peninsula. This news, and it is huge, feeds to narrative. If TRUMP comes away from meetings with a deal for peace there will be no stopping the rhetoric.\r\n\r\nIt will be worldwide news domination, not just domestic. This will feed the power, encourage him vis-à-vis past behaviours being the correct choices and so the web will spin out even wider.\r\n\r\nHow should you trade with this as a backdrop?\r\n\r\nLet me first say, my approach is evolving. The number of times, I read from experienced traders that they are not sure what to do, or cannot fathom out some of the moves, has NEVER been so high. I get this thought process.\r\n\r\nHow do I trade this...?\r\n\r\nIt’s not easy because it is basically chop every time that TRUMP opens his mouth to speak. The one factor that is more common than any other is that the DXY tends to weaken when TRUMP holds an audience. Having said that, this DOES NOT mean go short the USD every time TRUMP speaks. If only it was that simple.\r\n\r\nFirstly, being more of a swing to position trader, the first thing that I will say is to survive in this niche at the moment one has to be frugal vis-à-vis position sizing. My largest trades this year have been just 25%-33% of full size. In fact, for most of 2017 that was the case as well. The only exceptions have been my shorter-term duration FLASH and RADAR trade styles. Smaller position sizes give you the potential for larger stop losses for protection, without increasing your RISK exposure in $$$. Your potential losses in pips can be greater but losses in $$$ are still limited.\r\n\r\nIt is only if you trade big positions with the increased stop losses that you become un-glued. This is known as GAMBLING, not RISK MANAGEMENT.\r\n\r\nAt this juncture, let me state for the records once again to have trading longevity, you need to preserve your capital to the best of your ability. The only way that this can be done is through a TRADE PLAN with TRADE MANAGEMENT, MONEY MANAGEMENT and HEAD MANAGEMENT.\r\n\r\nIf you get your head around these principles, you have a good chance of survival.\r\n\r\nGetting back on point...\r\n\r\nSecondly, try not to be reactive but proactive with trades. My least successful trades are my reactive trades; FLASH and RADAR trades these are based on intra-day activity. If the markets are news driven and choppy it stands to reason these trades have the potential to be a mess.\r\nProactive trading is using pre-set entries via Fibonacci levels, using chart patterns that have probability outcomes. But you must trade smart. Smaller position sizes, be prepared for chop.\r\n\r\nThirdly, even with Fibonacci levels for targeted entries do not be afraid to take a profitable trade off the market earlier than planned. No-one has ever blown up their account for banking profits $$$.\r\n\r\nFourthly, you can remove loss making trades earlier as well. The one consistency with the FX market at the moment is that it is inconsistent! Correlations are off. The lunatics have to a large extent left the asylum. If you are not 100% happy take the loss. If you have positioned yourself properly with the trade your loss should be less than your TRADE PLAN guideline limits.\r\n\r\nIt is not easy at the moment. I am having a great month, a great start to the year with the PREMIUM SERVICE but I have a few longer-term trades that do not look so tidy at the moment.\r\n\r\nI am sitting back and observing more than anything at the moment. As I have stated already sometimes your best trades are the ones that you do not take. As one of my trading mentors said to me “There is a Forex market every day, wait until prices come to you do not chase prices”\r\n\r\nBack to TRUMP...\r\n\r\nWe have to acknowledge that fact that the political book is to a large extent being re-written. No matter where you are situated on this planet TRUMP’s words will affect your market, this is a fact.\r\n\r\nYou, me, all of us just have to be aware of increased RISKS and trade accordingly. Easier said than done sometimes but that\'s the top and bottom of it.\r\n\r\n<strong> </strong>\r\n<ol start=\"3\">\r\n 	<li><span style=\"font-size: 14pt;\"><strong>USD SUPPORT and RESISTANCE with my BIAS:</strong></span></li>\r\n</ol>\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2018/03/T-CHART-10032018.png\"><img class=\"aligncenter size-large wp-image-11104\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2018/03/T-CHART-10032018-1024x891.png\" alt=\"\" width=\"1024\" height=\"891\" /></a>\r\n\r\n<strong> </strong><strong> </strong>\r\n<ol start=\"4\">\r\n 	<li><span style=\"font-size: 14pt;\"><strong>THE PREMIUM SERVICE TRADING SUMMARY:</strong></span></li>\r\n</ol>\r\n<u>PREMIUM SERVICE PERFORMANCE YEAR TO DATE:</u>\r\n\r\n(Incorporating the last 5 PREMIUM SERVICE TRADES)\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2018/03/PS-SUMMARY-10032018.png\"><img class=\"aligncenter size-large wp-image-11103\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2018/03/PS-SUMMARY-10032018-1024x863.png\" alt=\"\" width=\"1024\" height=\"863\" /></a>\r\n\r\nYou can get on board and join from as little as CAD$10 for 10 days and then CAD$150.00 per month, currency conversions for CAD$150 are roughly as follows: -\r\n\r\nGBP £90 per month\r\nEUR €100 per month\r\nUSD $120 per month\r\nJPY 12,700 per month\r\nAUD $150 per month\r\n\r\nThis represents a great value way to subscribe…\r\n\r\nGo to my website <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a> for more details under the TAB – “SUBSCRIBE HERE”.\r\n\r\n&nbsp;\r\n\r\n<strong> </strong>\r\n<ol start=\"5\">\r\n 	<li><span style=\"font-size: 14pt;\"><strong>PREMIUM SERVICE SUBSCRIBERS:</strong></span></li>\r\n</ol>\r\n(This section is for PREMIUM SUBSCRIBERS ONLY)\r\n<u>5.1. TRADING REVIEW:</u>\r\n\r\n<u>5.2. SENTIMENT,</u><u> FUNDAMENTAL &amp; MACRO THOUGHTS</u><u>:\r\n</u>\r\n\r\n<u>5.3. THE WEEK AHEAD:</u>\r\n\r\n<u>5.3.1. ECONOMIC DATA RELEASES THAT INTEREST ME:</u>\r\n\r\n<u>5.3.2. MY KEY EVENTS ON THIS WEEK’S CALENDAR AND WHY:</u>\r\n\r\n<u>5.3.3. HOW I WILL APPROACH and TRADE THE MARKET THIS WEEK:</u>\r\n\r\n<u>5.3.4. MY “MACRO” TRADING PLAN FOR THE WEEK AHEAD:</u>\r\n\r\n<u>5.4. CURRENT LIVE TRADES &amp; LIMIT ORDERS:</u>\r\n\r\n<u>5.4.1. CURRENT LIVE TRADES:\r\n</u>\r\n<u>5.4.2. CURRENT LIMIT ORDER TRADES:</u>\r\n\r\n<u>5.5. FX BROKER NEWS and MARKET FEEDBACK:</u>\r\n\r\n<u>5.6. PREMIUM SERVICE UPDATES:</u>\r\n\r\n<strong> </strong>\r\n<ol start=\"6\">\r\n 	<li><span style=\"font-size: 14pt;\"><strong>THE FINAL SHOT:</strong></span></li>\r\n</ol>\r\nNothing more to add here, I have said enough except,\r\n\r\nAs usual…\r\n\r\nAlways remember longevity in Forex trading can only be achieved through trading with good RISK and MONEY MANAGEMENT, and above all set your position sizes in accordance with the size of your account and allow for some flexibility.\r\n\r\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: #273 FREE NEWSLETTER\r\nDATE: 10th March 2018', 'IS TRUMP THE 2018 VERSION OF ELLIOT CARVER?', '', 'inherit', 'closed', 'closed', '', '11117-revision-v1', '', '', '2018-03-10 06:15:26', '2018-03-10 11:15:26', '', 11117, 'https://weeklyfxdrivethru.com/11117-revision-v1/', 0, 'revision', '', 0),
(11125, 1, '2018-03-10 06:48:25', '2018-03-10 11:48:25', '&nbsp;\r\n<ol>\r\n 	<li><span style=\"font-size: 14pt;\"><strong> THE FIRST SHOT:</strong></span></li>\r\n</ol>\r\nAs mentioned in the last “DRIVE THRU”, I did not participate much at all in last week’s trading.\r\n\r\nI know to a lot of traders, my decision not to trade much, appeared strange and weird, considering that with so much economic data on the agenda the opportunity for volatility and the possible moves as a result, would seem appealing to most traders. I get that approach, and, understand that point of view. However, my decision was on the back of the fact that the market at the moment as far as I am concerned, is news driven. News driven to the point that FUNDAMENTALS, CORRELATIONS and to some extent even TECHNICALS appear not to matter at times. My blog title “IS TRUMP THE 2018 VERSION OF ELLIOT CARVER” will reveal all later in the blog.\r\n\r\nBelow is my list, from last week’s “DRIVE THRU” of geopolitical issues that were hanging over the markets. These factors were influential in my decision to wind back my trading last week.\r\n\r\nI have commented in BRACKETS below each bullet point with my updated comments.\r\n<ul>\r\n 	<li>ITALIAN ELECTIONS – COALITION PARTNERS UNCERTAINTY\r\n(Over 50% of Italian voters voted for extreme parties associated with EURO SKEPTICISM)</li>\r\n 	<li>GERMANY - SPD PARTY VOTES ON COALITION DEAL with CDU\r\n(SPD voting agreed coalition deal)</li>\r\n 	<li>BREXIT – EU &amp; UK IN GAME OF “HIGH STAKES CHICKEN”\r\n(EU bite back with Donald Tusk basically giving the UK the same trade deal as Canada)</li>\r\n 	<li>TRUMP – KICKING OFF A GLOBAL TRADE WAR\r\n(Still on-going)</li>\r\n 	<li>JEROME POWELL – FED RATE HIKES in 2018\r\n(Prior FED doves like Lael Brainard now turning hawkish. Rate hikes 3 or 4 in total look to be penciled in. At March FED meeting the first 2 could be inked in)</li>\r\n 	<li>US 10YR YIELDS if BREAK THROUGH 3% sets up 4.5%\r\n(Initially settled down and pulled back. NFP wage growth only pulled back 0.1% on yesterday’s NFP print. Markets very interested in U.S. inflation)</li>\r\n 	<li>BOJ – CHANGE IN MONETARY POLICY RE QQE in 2019?\r\n(Kuroda very dovish still from last week’s BOJ Press Conference)</li>\r\n</ul>\r\nWith all of the above plus the huge list of economic data it all looked like it was going to be a chop fest and provided that the range limits held, it would be a chop fest within ranges. From my point of view this is what happened, and my trading psyche does NOT enjoy this type of trading. I do not mind ranges but the mad chop which is what we saw last week is just not my bag.\r\n\r\nI suggested to “newbie” traders to sit it out last week. As mentioned already, some of the moves were fast and furious with no real direction and a basic disregard for sentiment. It would have been very easy to have your account blow up in your face if you did not trade with proper POSITION SIZING and TRADE MANAGEMENT principles in place. Chasing markets is NEVER a good strategy. The temptations last week were there for all to see. It was so easy to see how you could have been caught in the chop.\r\n\r\nIt is often said; “Sometimes your best trades are the ones that you do NOT take”\r\n\r\n<strong> </strong>\r\n<ol start=\"2\">\r\n 	<li><span style=\"font-size: 14pt;\"><strong> MARKET OVERVIEW – MY THOUGHTS:</strong></span></li>\r\n</ol>\r\n<p style=\"text-align: center;\"><span style=\"font-size: 14pt;\"><strong>IS TRUMP THE 2018 VERSION OF ELLIOT CARVER?\r\nand\r\nHOW DO I TRADE AROUND TRUMP?</strong></span></p>\r\nThere was a movie documentary released a few years ago titled “Who the f**k is Arthur Fogel?”. Prior to watching the movie, I had no idea.   Arthur Fogel is Canadian and CEO of the touring area of Live Nation Entertainment. He was the brains behind the funding of the “U2 360” tour, which was possibly one of best looking innovative stage sets and most complicated touring schedules ever put together. The guy has managed the biggest grossing tours in the music industry.\r\n\r\nSo....\r\n\r\nI can understand you saying, “Who the f**k is Elliot Carver?”\r\n\r\nHe was the media baddie from the “Tomorrow Never Dies” Bond movie. His goal was to dominate world news by creating the news for the world to read. Is TRUMP the 2018 version of Elliot Carver?\r\n\r\nLet me just confirm, I am NOT saying TRUMP has teams of security guards with AK-47’s going around killing off Mi6 agents. Having said that, I know he has huge armed security teams at his beck and call. Good Lord, there are more similarities than I originally thought! However, as far as I know, he is still a goodie and not a baddie!\r\n\r\nMoving on, before I write something that I shouldn’t ...\r\n\r\nI think it would be fair to say that TRUMP likes to control the narrative. He does not need to buy a TV station, as CNN in the U.S. has already taken the bait on the TRUMP headlines, it basically should be renamed TRUMP TV as its entire news outflow is dedicated 100% to TRUMP.\r\n\r\nSome well-known household names who are employed by CNN have their reputations on the line. The station to many, is no better than the gossip Daily Mail / TMZ stations that are available.\r\n\r\nTRUMP has CNN working like a puppet for him and TRUMP has complete control of the strings CNN appear both hopeless and helpless. The more they knock him the more the TRUMP base hardens in support for the President. At his press conferences, the CNN reporter has NO chance of ever getting a question to the President as they are in his words only a FAKE NEWS organization.  This adds fuel to fire and CNN cannot see that they are being played.\r\n\r\nThe media in the U.S. and around the world are just about understanding the power of direct media through TWITTER. The thoughts go straight to a connection there are then, its instant; no interpretation and no spin.\r\n\r\nThe issue to consider is therefore, is the data accurate?\r\n\r\nIf you control the narrative and you can call “FAKE NEWS” whenever you want and ignore the questions, then accuracy is not that important. It just has to be believable. As long as the TRUMP base believes the narrative there is no reason in the world why direct tweeting will ever stop.\r\n\r\nTRUMP has defended his recent tweets on Tariffs, on the basis that he is keeping to his Presidential campaign promises. In all honesty, I have to give the guy thumbs up here, most politicians once in office couldn’t give a rat’s ass about the promises that they made.\r\n\r\nFor example, take the time to read about last weekend’s ITALIAN election. Read the bullet points from parties involved manifestos. Then ask yourself under a voting system based upon proportional representation, when you have either minority governments or coalitions involved, how many of the items in the manifestos actually become a reality. Very little, it all becomes beige, no real colour. This is a huge problem of proportional representation as the electoral systems, the vast majority of times delivers weak governments that take months to form. Look at the last German election. The vote was held on September 24<sup>th</sup>, 2017. The new government is still NOT in place. Germany is seen as an example of efficiency... God help the Italians.\r\n\r\nThe UK has a “first past the post” electoral system, over 95% of all elections held have a majority government on a main three-party system.\r\n\r\nBack on track...\r\n\r\nThe U.S. has a basic two-party system with a President removed from voting. The system feeds the way that TRUMP operates and fair play to him he has exposed the failings of the U.S. system.\r\n\r\nWith regards to the recent news regarding Tariffs on Steel and Aluminum, TRUMP has a plan, being fair, there are good reasons for the strategy if the U.S. is getting a “bum” deal. The problem the markets have is dealing with TRUMP’s lack of tact and the total lack of the usual diplomacy one associates with these policy changes. It does however provide TRUMP with 100% control of the narrative, and, it is completely in keeping with character.\r\n\r\nEverything in the U.S. plays into TRUMP’s hand. As a previous reality TV host, he knows how to manipulate and control. He has brought these skills to 1600 Pennsylvania Avenue and what you saw on the campaign trail is now what you see as the President of the U.S.\r\n\r\nIn my opinion, there are similarities to the fictional character “Elliot Carver”.  In the way that TRUMP creates news, sensationalizes the news, grabs attention, creates shock and awe, the difference is that TRUMP then walks it back as moderates try to reason with him. Whereas, Elliot Carver was taking on James Bond... no chance of winning. TRUMP has taken on the U.S. media and has them tied up in knots.\r\n\r\nThere is a pattern every time to the way that TRUMP operates. It must be a nightmare to work with and the revolving doors of staff at the White House is testimony to that nightmare when you count the changes that have taken place.\r\n\r\nNow we have the meeting with Kim Jong Un, prior to May on denuclearization of the Korean peninsula. This news, and it is huge, feeds to narrative. If TRUMP comes away from meetings with a deal for peace there will be no stopping the rhetoric.\r\n\r\nIt will be worldwide news domination, not just domestic. This will feed the power, encourage him vis-à-vis past behaviours being the correct choices and so the web will spin out even wider.\r\n\r\nHow should you trade with this as a backdrop?\r\n\r\nLet me first say, my approach is evolving. The number of times, I read from experienced traders that they are not sure what to do, or cannot fathom out some of the moves, has NEVER been so high. I get this thought process.\r\n\r\nHow do I trade this...?\r\n\r\nIt’s not easy because it is basically chop every time that TRUMP opens his mouth to speak. The one factor that is more common than any other is that the DXY tends to weaken when TRUMP holds an audience. Having said that, this DOES NOT mean go short the USD every time TRUMP speaks. If only it was that simple.\r\n\r\nFirstly, being more of a swing to position trader, the first thing that I will say is to survive in this niche at the moment one has to be frugal vis-à-vis position sizing. My largest trades this year have been just 25%-33% of full size. In fact, for most of 2017 that was the case as well. The only exceptions have been my shorter-term duration FLASH and RADAR trade styles. Smaller position sizes give you the potential for larger stop losses for protection, without increasing your RISK exposure in $$$. Your potential losses in pips can be greater but losses in $$$ are still limited.\r\n\r\nIt is only if you trade big positions with the increased stop losses that you become un-glued. This is known as GAMBLING, not RISK MANAGEMENT.\r\n\r\nAt this juncture, let me state for the records once again to have trading longevity, you need to preserve your capital to the best of your ability. The only way that this can be done is through a TRADE PLAN with TRADE MANAGEMENT, MONEY MANAGEMENT and HEAD MANAGEMENT.\r\n\r\nIf you get your head around these principles, you have a good chance of survival.\r\n\r\nGetting back on point...\r\n\r\nSecondly, try not to be reactive but proactive with trades. My least successful trades are my reactive trades; FLASH and RADAR trades these are based on intra-day activity. If the markets are news driven and choppy it stands to reason these trades have the potential to be a mess.\r\n\r\nProactive trading is using pre-set entries via Fibonacci levels, using chart patterns that have probability outcomes. But you must trade smart. Smaller position sizes, be prepared for chop.\r\n\r\nThirdly, even with Fibonacci levels for targeted entries do not be afraid to take a profitable trade off the market earlier than planned. No-one has ever blown up their account for banking profits $$$.\r\n\r\nFourthly, you can remove loss making trades earlier as well. The one consistency with the FX market at the moment is that it is inconsistent! Correlations are off. The lunatics have to a large extent left the asylum. If you are not 100% happy take the loss. If you have positioned yourself properly with the trade your loss should be less than your TRADE PLAN guideline limits.\r\n\r\nIt is not easy at the moment. I am having a great month, a great start to the year with the PREMIUM SERVICE but I have a few longer-term trades that do not look so tidy at the moment.\r\n\r\nI am sitting back and observing more than anything at the moment. As I have stated already sometimes your best trades are the ones that you do not take. As one of my trading mentors said to me “There is a Forex market every day, wait until prices come to you do not chase prices”\r\n\r\nBack to TRUMP...\r\n\r\nWe have to acknowledge that fact that the political book is to a large extent being re-written. No matter where you are situated on this planet TRUMP’s words will affect your market, this is a fact.\r\n\r\nYou, me, all of us just have to be aware of increased RISKS and trade accordingly. Easier said than done sometimes but that\'s the top and bottom of it.\r\n\r\n<strong> </strong>\r\n<ol start=\"3\">\r\n 	<li><span style=\"font-size: 14pt;\"><strong>USD SUPPORT and RESISTANCE with my BIAS:</strong></span></li>\r\n</ol>\r\n&nbsp;\r\n\r\n<strong><a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2018/03/T-CHART-10032018.png\"><img class=\"aligncenter size-large wp-image-11104\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2018/03/T-CHART-10032018-1024x891.png\" alt=\"\" width=\"1024\" height=\"891\" /></a> </strong>\r\n\r\n&nbsp;\r\n<ol start=\"4\">\r\n 	<li><span style=\"font-size: 14pt;\"><strong>THE PREMIUM SERVICE TRADING SUMMARY:</strong></span></li>\r\n</ol>\r\n<u>PREMIUM SERVICE PERFORMANCE YEAR TO DATE:</u>\r\n\r\n(Incorporating the last 5 PREMIUM SERVICE TRADES)\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2018/03/PS-SUMMARY-10032018.png\"><img class=\"aligncenter size-large wp-image-11103\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2018/03/PS-SUMMARY-10032018-1024x863.png\" alt=\"\" width=\"1024\" height=\"863\" /></a>\r\n\r\nYou can get on board and join from as little as CAD$10 for 10 days and then CAD$150.00 per month, currency conversions for CAD$150 are roughly as follows: -\r\n\r\nGBP £90 per month\r\nEUR €100 per month\r\nUSD $120 per month\r\nJPY 12,700 per month\r\nAUD $150 per month\r\n\r\nThis represents a great value way to subscribe…\r\n\r\nGo to my website <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a> for more details under the TAB – “SUBSCRIBE HERE”.\r\n\r\n<strong> </strong>\r\n<ol start=\"5\">\r\n 	<li><span style=\"font-size: 14pt;\"><strong>PREMIUM SERVICE SUBSCRIBERS:</strong></span></li>\r\n</ol>\r\n(This section is for PREMIUM SUBSCRIBERS ONLY)\r\n\r\n<u>5.1. TRADING REVIEW:</u>\r\n\r\nJust to respond to some of the humorous emails received during the past week. I was NOT on holiday on a beach sipping Jack Daniels by the bucket load. I was at home in Nova Scotia at my screens working on software updates and chart analysis.\r\n\r\nAs I had written in last weeks “DRIVE THRU”, I was not happy with the geopolitical data and in a week with so much economic data being added together, it confused me and gave me little clarity on trading. I am glad I stepped back, I feel vindicated by that move as most of the time all I saw was a “Chop Fest” and all I read about was confusion, uncertainty in the sentiment and continual frustrations by the market being news driven.\r\n\r\nFor the week, I basically closed out of a few trades, got suckered in by the ECB written statement and screwed over by Draghi talking down the single currency. I added a few pips but my CONTINGENT LIABILITY on pips from live trades that I am holding is still an annoyance to me. As mentioned before, the losing pips are basically all contained inside POSITION TRADES, so I should not get too concerned. Nevertheless, it is an annoyance.\r\n\r\nLast week gave me a great opportunity to plan and consider my approach into Q2. With the geopolitical events moving forward, the TRUMP Tariffs getting more clarity, we enter a period when market sentiment appears to be changing and many currency pairs are consolidating recent moves, with most of them looking to turn direction.\r\n\r\nMy questions are; are these moves impulsive or corrective?\r\n\r\nThe jury is STILL out as far as I am concerned, and I am cautious. With regards to market sentiment and the attached RISK, as we have been in “Chop Fest” these tend to produce false moves.\r\n\r\n&nbsp;\r\n\r\n<u>5.2. SENTIMENT,</u><u> FUNDAMENTAL &amp; MACRO THOUGHTS</u><u>:</u>\r\n\r\n&nbsp;\r\n\r\nAs just stated I think that we are once again heading into a transition period with the market. Therefore, until I can see direction confirmed, I will remain on my guard.\r\n\r\nLong-term FUNDAMENTALS are unchanged. It is my entry timings that are not clear to me at the moment.\r\n\r\nBy currency my thoughts moving forward are at best as follows: -\r\n<ul>\r\n 	<li>Q2:\r\nSHORT NZD</li>\r\n</ul>\r\nand at this stage potentially LONG EUR, GBP, NOK and CAD plus SHORT JPY.\r\n<ul>\r\n 	<li>Q3:\r\nSHORT NZD\r\nStronger belief with EUR &amp; GBP LONG.</li>\r\n</ul>\r\nI hate being beige on this matter, but I don’t know. I cannot be 100% certain, the past 7-10 days may be a directional change.\r\n\r\nWhilst short / medium term sentiment may have changed I still see the USD (DXY) failing and moving towards the mid 80 level later this year. This may happen in conjunction with the ECB. It is difficult to call. If I knew the answer, let’s be honest here, I probably would not be writing this blog!!\r\n\r\nIf you look at the SENTIMENT CHART below, the USD is all over the map. For me, this is comforting as it is telling me that my indecision has some basis and that I am not losing my mind.\r\n\r\nUntil, the market modifies behavior, we should in my opinion remain very aware of RISK.\r\n\r\nCentral Banks last week were far more guarded than of late. I take the Central Bank statements very seriously and even with the coded messages, the Governors are being very cautious and Conservative.  Even Mario Draghi last week was sooooo dovish, yet I read the statement to be relatively hawkish. From these people, I take my lead.\r\n\r\nNevertheless, I have a number of trades to place early this week based on what I believe represents good value and great RISK / REWARD opportunities. I am not saying be so cautious as not to trade. I am saying be more picky.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2018/03/SENTIMENT-10032018.png\"><img class=\"aligncenter size-large wp-image-11115\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2018/03/SENTIMENT-10032018-786x1024.png\" alt=\"\" width=\"786\" height=\"1024\" /></a>\r\n\r\n<u>5.3. THE WEEK AHEAD:</u>\r\n\r\n<u>5.3.1. ECONOMIC DATA RELEASES THAT INTEREST ME:</u>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2018/03/ECON-DATA-10032018.png\"><img class=\"aligncenter size-large wp-image-11105\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2018/03/ECON-DATA-10032018-1024x884.png\" alt=\"\" width=\"1024\" height=\"884\" /></a>\r\n\r\n&nbsp;\r\n\r\n<u>5.3.2. MY KEY EVENTS ON THIS WEEK’S CALENDAR AND WHY:</u>\r\n\r\n<u>USD: CPi, Core CPi, PPi, Core Retail Sales and Retail Sales.</u>\r\n\r\nInflation and Consumer Confidence related data is treated as GOLD by the U.S. markets at the moment.\r\n\r\nThe impact of this data will help formulate a medium-term trading plan from which to build on\r\n\r\n&nbsp;\r\n\r\n<u>CAD: BOC Governor, Stephen Poloz speaks.</u>\r\n\r\nThere was no press conference at the last BOC interest rate decision and policy statement release. Deputy Governor Lane, has been on the wires, but I want to hear from Poloz.\r\n\r\nThere is a lot to listen out for, Tariffs, NAFTA, up and down mixed data. Poloz has stated that the interest rate policy for the CAD moving forward is data dependent. I am very conscious of the fact that the interest rate relationship vis-à-vis the USD will be on Poloz’s mind. He cannot afford to be behind the curve. The FED look like they will be hiking 4 times this year.\r\n\r\n<u>\r\nEUR: ECB President Mario Draghi speaks.</u>\r\n\r\nI will be checking for consistencies with the Press Conference comments last week. He was overly dovish.\r\n\r\n&nbsp;\r\n\r\n<u>NZD: GDP.</u>\r\n\r\nBeing totally selfish and selling my own book. I apologize for the kiwis reading this, but I hope the number is a bloody disaster.\r\n\r\n&nbsp;\r\n\r\n<u>5.3.3. HOW I WILL APPROACH and TRADE THE MARKET THIS WEEK:</u>\r\n\r\nI am looking to add several trades at the beginning of the week. I have set-ups ready to go with the EUR/USD, EUR/CHF, USD/JPY, NZD/JPY, AUD/JPY, USD/NOK and USD/CAD. As soon as I feel comfortable to post them, they will be out.\r\n\r\nAs mentioned previously, we are in consolidation / transition mode and I need confirmations before establishing more RISK positions.\r\n\r\nI am not 100% happy with my GBP cross rate trades. Whilst, they are POSITION TRADES, I may add some more into position when things settle down. Some of the price ranges that we are approaching represent opportunist good value, and I want to be in a position, if possible to capitalize on recent moves.\r\n\r\nTherefore, my market approach will be on the side of caution and restrain.\r\n\r\n&nbsp;\r\n\r\n<u>\r\n</u><u>5.3.4. MY “MACRO” TRADING PLAN FOR THE WEEK AHEAD:</u>\r\n\r\nIn the background this week, I will be working hard on setting goals / objectives into my TRADE PLAN to accommodate my fundamental thoughts moving into Q2 and Q3.\r\n<ol>\r\n 	<li>Add NZD trades where appropriate.</li>\r\n 	<li>Look at establishing EUR long positions for the medium and longer terms.</li>\r\n</ol>\r\nBeyond these immediate goals, I think I would be wasting time planning strategies when we are in a period of market transition.\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n<u>5.4. CURRENT LIVE TRADES &amp; LIMIT ORDERS:</u>\r\n\r\n<u>5.4.1. CURRENT LIVE TRADES:</u>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2018/03/LIVE-TRADES-10032018.png\"><img class=\"aligncenter size-large wp-image-11108\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2018/03/LIVE-TRADES-10032018-667x1024.png\" alt=\"\" width=\"667\" height=\"1024\" /></a>\r\n\r\n<u>5.4.2. CURRENT LIMIT ORDER TRADES:</u>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2018/03/LIMIT-ORDERS-10032018.png\"><img class=\"aligncenter size-large wp-image-11107\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2018/03/LIMIT-ORDERS-10032018-844x1024.png\" alt=\"\" width=\"844\" height=\"1024\" /></a>\r\n\r\n&nbsp;\r\n\r\n<u>5.5. FX BROKER NEWS and MARKET FEEDBACK:</u>\r\n\r\nNothing to report this week from brokers. It has been exceptionally quiet once again.\r\n\r\n&nbsp;\r\n\r\n<u>5.6. PREMIUM SERVICE UPDATES:</u>\r\n\r\nI have had a few communications of late from several of you with ideas on reporting and requesting additional daily information on currency pairs.\r\n\r\nI have everything under review. As you know I have been attempting some software updates of late and communication options were part of the aborted updates.\r\n\r\nI am looking to separate the PREMIUM SERVICE completely from the WEEKLY FX DRIVE THRU website moving forward and it looks like this may take place pre Q3, but nothing is confirmed yet.\r\n\r\nI love receiving all the ideas, it helps me focus on what you guys like to receive. The only limiting factor from my perspective is time to produce the requests that does not interfere with chart analysis and my daily routines too much.\r\n\r\nI will communicate on an individual basis and if any the changes make it to the light of day, I will advise here.\r\n\r\n<strong> </strong>\r\n\r\n<strong> </strong>\r\n<ol start=\"6\">\r\n 	<li><span style=\"font-size: 14pt;\"><strong>THE FINAL SHOT:</strong></span></li>\r\n</ol>\r\nNothing more to add here, I have said enough except,\r\n\r\nAs usual…\r\n\r\nAlways remember longevity in Forex trading can only be achieved through trading with good RISK and MONEY MANAGEMENT, and above all set your position sizes in accordance with the size of your account and allow for some flexibility.\r\n\r\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: #169 PREMIUM SERVICE\r\nDATE: 10th March 2018', 'IS TRUMP THE 2018 VERSION OF ELLIOT CARVER?', '', 'inherit', 'closed', 'closed', '', '11114-revision-v1', '', '', '2018-03-10 06:48:25', '2018-03-10 11:48:25', '', 11114, 'https://weeklyfxdrivethru.com/11114-revision-v1/', 0, 'revision', '', 0),
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(11136, 1, '2018-03-12 16:08:11', '2018-03-12 21:08:11', '<section class=\"members\">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.\r\n\r\nIf you want a little more: -\r\n<ul>\r\n 	<li>Background to the working of the Forex Market.</li>\r\n 	<li>Specific coaching on an area of Forex.</li>\r\n 	<li>A longer-term support program on all aspects of the Forex Market with a weekly review.</li>\r\n</ul>\r\nBasically, 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.\r\n\r\nThe cost of this depends upon exactly what you want initially and longer-term. I am in the Forex Market for the long haul.\r\n\r\nThis 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.\r\n\r\nFor any questions in connection with this area please in the first instance email with as much detail as possible to: - scott@thepremiumservice.com\r\n\r\n</section>', 'MENTORING and ONE-ON-ONE COACHING:', '', 'inherit', 'closed', 'closed', '', '5553-revision-v1', '', '', '2018-03-12 16:08:11', '2018-03-12 21:08:11', '', 5553, 'https://weeklyfxdrivethru.com/5553-revision-v1/', 0, 'revision', '', 0),
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(11250, 1, '2018-03-17 07:17:49', '2018-03-17 12:17:49', '&nbsp;\r\n<ol>\r\n 	<li><span style=\"font-family: arial, helvetica, sans-serif; font-size: 14pt;\"><strong> THE FIRST SHOT – “THE SOAPBOX”:</strong></span><span style=\"font-family: arial, helvetica, sans-serif;\"><strong> </strong></span></li>\r\n</ol>\r\n<span style=\"font-family: arial, helvetica, sans-serif;\">Over the past 3 –4 months, I have been playing with the structure of this blog trying to achieve a balance between what is “FREE FOR ALL” versus what stays behind “CLOSED DOORS” for my PREMIUM SERVICE subscribers. I think that after input from a variety of sources I may finally be there with the format that works and covers all objectives.</span>\r\n\r\n<span style=\"font-family: arial, helvetica, sans-serif;\">What a week that was....</span>\r\n\r\n<span style=\"font-family: arial, helvetica, sans-serif;\">I wrote last in the blog about TRUMP being the modern-day ELLIOT CARVER, and whilst the post was a tongue in cheek observation of TRUMPS’s influence, I am starting to think that he is actually dominating the world’s news far more than I thought even 7 days ago!</span>\r\n\r\n<span style=\"font-family: arial, helvetica, sans-serif;\">For the love of God, who is going to win the contract for installing revolving doors at the White House entrance? Because, he needs them installed.</span>\r\n\r\n<span style=\"font-family: arial, helvetica, sans-serif;\">I approach this not from the point that people are moved on, that happens, it’s the quantity and the TRUMP comments that follow each exit makes him sound like he just wants to be surrounded by “YES” men. TRUMP is obviously a massive micro meddler and control freak. If you recall during his election campaign he often said that he alone would fix things, it would be just him. He was often pulled up on these statements and challenged and the questions just moved on to another subject. It does appear it’s his way or the highway at the White House. Despite how big an ego TRUMP has, he cannot manage the world.</span>\r\n\r\n<span style=\"font-family: arial, helvetica, sans-serif;\">This is a massive failing, especially with roles that extend into working with different countries like the Secretary of State. How on earth are people expected to develop relationships across countries and cultures if they are not given any longevity? It appears the only thing that TRUMP wants is 100% “YES” people. This is a really bad policy to run with and over time the U.S. will suffer. As far as I am aware, TRUMP cannot cast a net in a river to feed 5,000 people, nor can he turn water into wine.</span>\r\n\r\n<span style=\"font-family: arial, helvetica, sans-serif;\">With all of that said... it’s Tillerson out, Kudlow in and McMaster ordering boxes to pack up his personal effects. The TRUMP presidency is NOT going to change, the markets really don\'t care but I feel that eventually it will all catch up one way or another.</span>\r\n\r\n<span style=\"font-family: arial, helvetica, sans-serif;\">Plus...</span>\r\n\r\n<span style=\"font-family: arial, helvetica, sans-serif;\">The EUROZONE, mainly Barnier and Junker are riding very close to the edge, pushing the extremes to the UK government over BREXIT and how the EU / UK relationship would look from an EU perspective. Whilst, UK Prime Minister’s Theresa May’s recent speech was to outline the vision that the UK government had of the relationship between the EU and UK post BREXIT, it has been poo-poo’d by both Barnier and Junker.</span>\r\n\r\n<span style=\"font-family: arial, helvetica, sans-serif;\">I would think there will be a number of hardline BREXIT MP’s putting two fingers into the air saying basically “f*ck them”, lets walk away pay nothing and let’s see how they (the EU) get on without a huge trade partner. I would say emergency trade agreements in lines of the existing EU deal, but with a new “header” are printed up ready to be signed and implemented, bypassing the EUROZONE.</span>\r\n\r\n<span style=\"font-family: arial, helvetica, sans-serif;\">We must remember the base makeup of the EU. The EU is largely full of its own self-importance with non-elected bureaucrats based in Brussels, who are basically pen pushers without any big picture vision. You just have to look at the response to the TRUMP tariffs to see how they miss the point and focus on the wrong battle. Car tariffs are a great example, basically EU cars into the U.S. rate = 2.5%. U.S. cars into the EU = 10%. Whether you like TRUMP or not, this is NOT a level playing field.</span>\r\n\r\n<span style=\"font-family: arial, helvetica, sans-serif;\">Moving on...</span>\r\n\r\n<span style=\"font-family: arial, helvetica, sans-serif;\">BREXIT was overshadowed a little by the alleged Russian chemical agent attack on UK soil. This story will gather a pace as time moves forward as France, Germany and the U.S. now support the UK in their political moves against Russia.</span>\r\n\r\n<span style=\"font-family: arial, helvetica, sans-serif;\">Back to FX...</span>\r\n\r\n<span style=\"font-family: arial, helvetica, sans-serif;\">Trading this past week has been a nightmare for myself. I have given back some pips, although I have not traded very actively at all. The markets have mainly been slow and painful in tight ranges for most of last week as the FX markets began to consolidate ahead of the FOMC this week. We have seen the odd break here and there but to be honest most of the time we have remained range bound.</span>\r\n\r\n<span style=\"font-family: arial, helvetica, sans-serif;\">One important piece to note however is that the JPY has strengthen this week whilst the rest really remained range bound. I can only think that this is a safe haven play with all the geopolitical events hanging over the markets at the moment.</span>\r\n\r\n<span style=\"font-family: arial, helvetica, sans-serif;\">In addition, one can see that RISK OFF is creeping back into the markets. Commodity currencies are weakening, and the commodity cross rates are now moving and gathering a pace after having sold off last week.</span>\r\n\r\n<span style=\"font-family: arial, helvetica, sans-serif;\">To place matters into context, with regards to my trading performance, I have had such a good start to 2018, I should NOT complain about one poor week in isolation.</span>\r\n\r\n<span style=\"font-family: arial, helvetica, sans-serif;\"><strong> </strong></span>\r\n<ol start=\"2\">\r\n 	<li><span style=\"font-family: arial, helvetica, sans-serif;\"><strong><span style=\"font-size: 14pt;\"> THIS WEEKS IMPORTANT TRADE INFORMATION:</span>\r\n\r\n</strong></span></li>\r\n</ol>\r\n<span style=\"font-family: arial, helvetica, sans-serif;\"><u>2.1. ECONOMIC DATA:</u><u>\r\n</u>NOTE: Only the items that interest me are listed here.</span>\r\n\r\n<span style=\"font-family: arial, helvetica, sans-serif;\"><strong> <a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2018/03/ECON-DATA-17032018.png\"><img class=\"aligncenter size-large wp-image-11143\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2018/03/ECON-DATA-17032018-1024x876.png\" alt=\"\" width=\"1024\" height=\"876\" /></a></strong></span>\r\n\r\n<span style=\"font-family: arial, helvetica, sans-serif;\"><strong> </strong></span>\r\n\r\n<span style=\"font-family: arial, helvetica, sans-serif;\"><u>2.2. GEOPOLOTICAL EVENTS:</u></span>\r\n\r\n<span style=\"font-family: arial, helvetica, sans-serif;\"><strong> <a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2018/03/GEO-DATA-17032018-.png\"><img class=\"aligncenter size-large wp-image-11144\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2018/03/GEO-DATA-17032018--1024x878.png\" alt=\"\" width=\"1024\" height=\"878\" /></a></strong></span>\r\n\r\n<span style=\"font-family: arial, helvetica, sans-serif;\"><strong>\r\n</strong><u>2.3. BIAS CHART - </u><u>USD MAJORS SUPPORT and RESISTANCE:</u></span>\r\n\r\n<span style=\"font-family: arial, helvetica, sans-serif;\"><strong><a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2018/03/TCHART-17032018.png\"><img class=\"aligncenter size-large wp-image-11157\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2018/03/TCHART-17032018-1024x892.png\" alt=\"\" width=\"1024\" height=\"892\" /></a> </strong></span>\r\n\r\n<span style=\"font-family: arial, helvetica, sans-serif;\"><u>2.4. USD OVERVIEW – MY THOUGHTS:</u></span><span style=\"font-family: arial, helvetica, sans-serif;\"><strong> </strong></span>\r\n\r\n<span style=\"font-family: arial, helvetica, sans-serif;\">The DXY as you can see from the chart below is in a downtrend. Recently, in fact, the past few days in the run up to this weeks FED meeting, the USD has come to life.</span>\r\n\r\n<span style=\"font-family: arial, helvetica, sans-serif;\">My thoughts are contained on the chart below&gt;</span>\r\n\r\n<span style=\"font-family: arial, helvetica, sans-serif;\">Basically, a rate hike should give us a spike higher towards trend line resistance, maybe the 78.6% Fibonacci retracement and previous support level that should act as resistance.</span>\r\n\r\n<span style=\"font-family: arial, helvetica, sans-serif;\">I expect around this level to contain prices and the DXY then resume its downside move to re-test 88.00 again and, in my opinion, a continued move lower to 80.00.</span><span style=\"font-family: arial, helvetica, sans-serif;\"><strong> </strong></span>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2018/03/DXY-DAILY-17032018.png\"><img class=\"aligncenter size-large wp-image-11251\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2018/03/DXY-DAILY-17032018-1024x493.png\" alt=\"\" width=\"1024\" height=\"493\" /></a>\r\n\r\n<span style=\"font-family: arial, helvetica, sans-serif;\"><strong> </strong></span>\r\n\r\n<span style=\"font-family: arial, helvetica, sans-serif;\"><u>2.5. USD TRADING CHARTS:</u></span><span style=\"font-family: arial, helvetica, sans-serif;\"><strong> </strong></span>\r\n\r\n<span style=\"font-family: arial, helvetica, sans-serif;\"><strong>EUR/USD:</strong></span>\r\n\r\n<span style=\"font-family: arial, helvetica, sans-serif;\">The Monthly chart below shows this pair moving lower towards some key support areas. The 1.2090 area is what I consider the break out area that forced the last move higher. Ahead of that there is great interest around the 1.2150-60 area.</span>\r\n\r\n<span style=\"font-family: arial, helvetica, sans-serif;\">As we approach the FOMC with the 95% chance of an interest rate increase in the FED Funds rate on the cards, markets may be bringing the pair into the middle of the recent trading range of 1.2100 to 1.2550.</span>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2018/03/EURUSD-M-17032018.png\"><img class=\"aligncenter size-large wp-image-11162\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2018/03/EURUSD-M-17032018-1024x485.png\" alt=\"\" width=\"1024\" height=\"485\" /></a>\r\n\r\n<span style=\"font-family: arial, helvetica, sans-serif;\"><strong> </strong></span><span style=\"font-family: arial, helvetica, sans-serif;\"><strong> </strong></span>\r\n\r\n<span style=\"font-family: arial, helvetica, sans-serif;\"><strong>GBP/USD:</strong></span>\r\n\r\n<span style=\"font-family: arial, helvetica, sans-serif;\">From the Daily chart below it is clear to see that 1.4000 is a stiff resistance level. On several occasions it would be fair to say that sellers have stepped in aggressively as soon as the level comes into view.</span>\r\n\r\n<span style=\"font-family: arial, helvetica, sans-serif;\"> With the FOMC this week, it looks like a buying opportunity will be provided as we pullback into Jerome Powell’s press conference and the economic dot plots!</span>\r\n\r\n<span style=\"font-family: arial, helvetica, sans-serif;\">One would have to say that 1.3800 looks an easy target for bears.</span>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2018/03/GBPUSD-DAILY-17032018.png\"><img class=\"aligncenter size-large wp-image-11163\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2018/03/GBPUSD-DAILY-17032018-1024x485.png\" alt=\"\" width=\"1024\" height=\"485\" /></a>\r\n\r\n&nbsp;\r\n\r\n<span style=\"font-family: arial, helvetica, sans-serif;\"><strong>AUD/USD:</strong></span>\r\n\r\n<span style=\"font-family: arial, helvetica, sans-serif;\">The China Tariff and duty trade is in play here. As soon as someone mentions issues with China as a trader you should think AUD.</span>\r\n\r\n<span style=\"font-family: arial, helvetica, sans-serif;\">The AUD is moving lower with uncertainty added to the already stronger USD overall move.</span>\r\n\r\n<span style=\"font-family: arial, helvetica, sans-serif;\">The Weekly chart below shows support at the trend line around 0.7600. The Weekly candle on the chart looks VERY bearish.</span>\r\n\r\n<span style=\"font-family: arial, helvetica, sans-serif;\">If the China trade gathers momentum, this pair could re-test lows around 0.7200 without any problem at all in my opinion.</span>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2018/03/AUDUSD-WEEKLY-17032018.png\"><img class=\"aligncenter size-large wp-image-11161\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2018/03/AUDUSD-WEEKLY-17032018-1024x485.png\" alt=\"\" width=\"1024\" height=\"485\" /></a>\r\n\r\n<span style=\"font-family: arial, helvetica, sans-serif;\"><strong> </strong></span>\r\n\r\n<span style=\"font-family: arial, helvetica, sans-serif;\"><strong>NZD/USD:</strong></span>\r\n\r\n<span style=\"font-family: arial, helvetica, sans-serif;\">From the Daily chart below, it is clear that resistance around 0.7350 is quite stiff. We are now moving lower and my “DOUBLE TOP” pattern measured move will soon come into play.</span>\r\n\r\n<span style=\"font-family: arial, helvetica, sans-serif;\">I am bearish the Kiwi dollar and have been for over a year now. I still see the John Key, ex. Prime Minister target low at 0.6500 a real target once again.</span>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2018/03/NZDUSD-DAILY-17032018.png\"><img class=\"aligncenter size-large wp-image-11164\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2018/03/NZDUSD-DAILY-17032018-1024x485.png\" alt=\"\" width=\"1024\" height=\"485\" /></a>\r\n\r\n&nbsp;\r\n\r\n<span style=\"font-family: arial, helvetica, sans-serif;\"><strong>USD/CAD:</strong></span>\r\n\r\n<span style=\"font-family: arial, helvetica, sans-serif;\">This pair has had an explosive move higher on the back of BOC Governor Stephen Poloz, dovish comments, the NAFTA agreement issues and TRUMP comments contradicting those of Canadian Prime Minister Justin Trudeau.</span>\r\n\r\n<span style=\"font-family: arial, helvetica, sans-serif;\">It looks like 1.3200 move could be on the cards, especially if there is a HAWKISH USD response to Jerome Powell this week.</span>\r\n\r\n<span style=\"font-family: arial, helvetica, sans-serif;\">On the attached Weekly chart below you can see that the 2015 Trend line resistance comes into play just below 1.3200. I would expect prices to hold here, if they don\'t, look out above! Should prices hold, it could be a great spot to enter.</span>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2018/03/USDCAD-W-17032018.png\"><img class=\"aligncenter size-large wp-image-11165\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2018/03/USDCAD-W-17032018-1024x485.png\" alt=\"\" width=\"1024\" height=\"485\" /></a>\r\n\r\n&nbsp;\r\n\r\n<span style=\"font-family: arial, helvetica, sans-serif;\"><strong>USD/CHF:</strong></span>\r\n\r\n<span style=\"font-family: arial, helvetica, sans-serif;\">As you can see on the Monthly chart below, the triangle pattern is “RIPE” for a breakout. My thought process is a long side breakout towards parity once again.</span>\r\n\r\n<span style=\"font-family: arial, helvetica, sans-serif;\">There is a range in play, which I have been following of late which is from 0.9190 to 0.9850. I am a little reluctant to aggressively trade the CHF given its flight to safety and neutrality attraction.</span>\r\n\r\n<span style=\"font-family: arial, helvetica, sans-serif;\">As PREMIUM SERVICE subscribers are aware, I am long GBP/CHF and have the EUR/CHF close by.</span>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2018/03/USDCHF-M-17032018.png\"><img class=\"aligncenter size-full wp-image-11166\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2018/03/USDCHF-M-17032018.png\" alt=\"\" width=\"1024\" height=\"485\" /></a>\r\n\r\n&nbsp;\r\n\r\n<span style=\"font-family: arial, helvetica, sans-serif;\"><strong>USD/JPY:</strong></span>\r\n\r\n<span style=\"font-family: arial, helvetica, sans-serif;\">The triangle breakdown measured move play is still valid. This pair has been highly responsive of late with flight to safety also playing a part in my opinion.</span>\r\n\r\n<span style=\"font-family: arial, helvetica, sans-serif;\">I expect a spike following the FOMC, which should be viewed as a selling opportunity.</span>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2018/03/USDJPY-WEEKLY-17032018.png\"><img class=\"aligncenter size-full wp-image-11167\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2018/03/USDJPY-WEEKLY-17032018.png\" alt=\"\" width=\"1024\" height=\"485\" /></a>\r\n\r\n&nbsp;\r\n\r\n<span style=\"font-family: arial, helvetica, sans-serif;\"><strong> </strong></span>\r\n<ol start=\"3\">\r\n 	<li><span style=\"font-family: arial, helvetica, sans-serif; font-size: 14pt;\"><strong>THE PREMIUM SERVICE TRADING SUMMARY:</strong></span></li>\r\n</ol>\r\n<span style=\"font-family: arial, helvetica, sans-serif;\"><u>3.1. PREMIUM SERVICE PERFORMANCE YEAR TO DATE:</u></span>\r\n\r\n<span style=\"font-family: arial, helvetica, sans-serif;\">(Incorporating the last 5 PREMIUM SERVICE TRADES)</span>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2018/03/PS-SUMMARY-17032018.png\"><img class=\"aligncenter size-full wp-image-11147\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2018/03/PS-SUMMARY-17032018.png\" alt=\"\" width=\"1024\" height=\"858\" /></a>\r\n\r\n<span style=\"font-family: arial, helvetica, sans-serif;\">You can get on board and join from as little as CAD$10 for 10 days and then CAD$150.00 per month, currency conversions for CAD$150 is roughly as follows: -</span>\r\n\r\n<span style=\"font-family: arial, helvetica, sans-serif;\">GBP £90 per month</span>\r\n<span style=\"font-family: arial, helvetica, sans-serif;\"> EUR €100 per month\r\n</span><span style=\"font-family: arial, helvetica, sans-serif;\">USD $120 per month\r\n</span><span style=\"font-family: arial, helvetica, sans-serif;\">JPY 12,700 per month\r\n</span><span style=\"font-family: arial, helvetica, sans-serif;\">AUD $150 per month</span>\r\n\r\n<span style=\"font-family: arial, helvetica, sans-serif;\">This represents a great value way to subscribe…  </span>\r\n\r\n<span style=\"font-family: arial, helvetica, sans-serif;\">Go to my website <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a> for more details under the TAB – “SUBSCRIBE HERE”.</span>\r\n\r\n&nbsp;\r\n\r\n<span style=\"font-family: arial, helvetica, sans-serif;\"><strong> </strong></span>\r\n<ol start=\"4\">\r\n 	<li><span style=\"font-family: arial, helvetica, sans-serif; font-size: 14pt;\"><strong>PREMIUM SERVICE SUBSCRIBERS:</strong></span></li>\r\n</ol>\r\n<span style=\"font-family: arial, helvetica, sans-serif;\">(This section is for PREMIUM SUBSCRIBERS ONLY)</span>\r\n\r\n<span style=\"font-family: arial, helvetica, sans-serif;\"><u>4.1. TRADING REVIEW:</u></span>\r\n\r\n<span style=\"font-family: arial, helvetica, sans-serif;\">I suppose I had to have a bad run of trades. Although last week I was not trading much, I felt that every time I touched the keyboard I was committing myself to give $$$ back to the brokers.</span>\r\n\r\n<span style=\"font-family: arial, helvetica, sans-serif;\">On the positive side, I have my TRADE PLAN in my mind for how I am going to trade the FOMC. I am OK with all the trades I entered last week, there will be losing trades, it was the two USD/CAD trades (POS734 and POS736), that I just cannot understand why I did not stop them before they got started. Every other trade I can live with. I took the hit on the CAD trades last Friday.</span>\r\n\r\n<span style=\"font-family: arial, helvetica, sans-serif;\">Moving on...</span>\r\n\r\n<span style=\"font-family: arial, helvetica, sans-serif;\">Last week was a strange week. We had the usual TRUMPANTICS, as he continues to dominate the markets. WE are in a news driven environment at the moment, which is awkward to say the least as both TECHNICALS and FUNDAMENTALS appear not to matter. Thankfully, if that is the correct word, the FX market for most of last week was asleep.</span>\r\n\r\n<span style=\"font-family: arial, helvetica, sans-serif;\">I am really happy with my trades, GREEN or RED at the moment as I feel with increased USD strength, I have the opportunity to cash in on a few pips. I am also ready to switch into USD weakness when the timing is right. I am frightened about always repeating myself but from now to the FOMC press conference patience will be required.</span>\r\n\r\n<span style=\"font-family: arial, helvetica, sans-serif;\">I think that FX will just sleep, and the majors will really just move to the mid-range areas ahead of Jerome Powell. So, Monday and Tuesday next week, unless we have TRUMP imploding on Tariffs, China or North Korea, I am not expecting much at all.</span>\r\n\r\n&nbsp;\r\n\r\n<span style=\"font-family: arial, helvetica, sans-serif;\"><u>4.2. SENTIMENT,</u><u> FUNDAMENTAL &amp; MACRO THOUGHTS</u><u>:\r\n\r\n</u></span>\r\n\r\n<span style=\"font-family: arial, helvetica, sans-serif;\"><u>4.2.1. OVERVIEW THOUGHTS (MY MACRO PLAN &amp; IDEAS):</u></span>\r\n\r\n<span style=\"font-family: arial, helvetica, sans-serif;\">The FOMC has taken over all thoughts FX.</span>\r\n\r\n<span style=\"font-family: arial, helvetica, sans-serif;\">My fundamental thoughts have not alerted. I am now more convinced that I am on the right track and as we approach the FED meeting and the FOMC press conference my commodity cross rates are moving into position to hopefully blast higher next week.</span>\r\n\r\n<span style=\"font-family: arial, helvetica, sans-serif;\">I am now looking at the areas I need to get long EUR/USD and GBP/USD and short USD/JPY and USD/CAD plus the associated cross rates.</span>\r\n\r\n<span style=\"font-family: arial, helvetica, sans-serif;\">As mentioned last week, I think that we are once again heading into a transition period with the market.</span>\r\n\r\n<span style=\"font-family: arial, helvetica, sans-serif;\">The USD “SENTIMENT CHART” is still not perfectly aligned, which is quite surprising given the directional moves we saw towards the end of last week.</span>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2018/03/SENTIMENT-17032018.png\"><img class=\"aligncenter size-full wp-image-11148\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2018/03/SENTIMENT-17032018.png\" alt=\"\" width=\"785\" height=\"1024\" /></a>\r\n\r\n&nbsp;\r\n\r\n<span style=\"font-family: arial, helvetica, sans-serif;\"><u>4.2.2. OPEN TRADES...HOW I WILL APPROACH THE MARKET THIS WEEK:</u></span>\r\n\r\n<span style=\"font-family: arial, helvetica, sans-serif;\">I am simply preparing for FOMC trades.</span>\r\n\r\n<span style=\"font-family: arial, helvetica, sans-serif;\">I enter the week with AUD/CAD and NZD/CAD short trades in $$$ and I am going to try to hold these through the FOMC. They are more a China Tariff play.</span>\r\n\r\n<span style=\"font-family: arial, helvetica, sans-serif;\">The EUR/AUD long is now a flat trade. I am hoping that this will power on next week for a 200-300 pips gain.</span>\r\n\r\n<span style=\"font-family: arial, helvetica, sans-serif;\">The position trades, GBP/NZD (2) and EUR/NZD I intend to cover these hopefully in $$$ prior to the FOMC. Whilst one could call them commodity cross rate trades, certainly the GBP related trades will usually follow the GBP. I expect the GBP to dip hard after the FOMC. I removed the GBP/CHF position trade last Friday, simply on the back of the fact its allegiance is more GBP than CHF. In fact, it’s more EUR/GBP inverted, and the EUR/GBP could act very strangely next week. Therefore, it made 100% sense to me to remove this trade.</span>\r\n\r\n<span style=\"font-family: arial, helvetica, sans-serif;\"> I have a remaining NZD/USD position trade, which will remain in play.</span>\r\n\r\n<span style=\"font-family: arial, helvetica, sans-serif;\">The AUD/NZD trades we forget about them for now.</span>\r\n\r\n<span style=\"font-family: arial, helvetica, sans-serif;\">I see USD strength followed by weakness probably for at least couple of sessions, maybe into the following week.</span>\r\n\r\n<span style=\"font-family: arial, helvetica, sans-serif;\">It all depends on the forward guidance given from Jerome Powell and what the economic projections show.</span>\r\n\r\n<span style=\"font-family: arial, helvetica, sans-serif;\">As always, the headlines will focus on: - How many rate hikes and where is inflation?</span>\r\n\r\n<span style=\"font-family: arial, helvetica, sans-serif;\">With regards to adding trades, I have my eyes on AUD/USD and NZD/USD short trades into the FOMC. JPY cross rate trades will be very much post FOMC, along with any CAD trades and any limit orders that are in position ready to go.</span>\r\n\r\n<span style=\"font-family: arial, helvetica, sans-serif;\">I cannot express how big a meeting this in for the FED and Jerome Powell, I have been lucky in being able to remove a lot of RISK ahead of the meeting with pips and $$$. Had I not been a bloody idiot with the USD/CAD it would have been 250 pips better again!!</span>\r\n\r\n<span style=\"font-family: arial, helvetica, sans-serif;\">Finally, just THINK.</span>\r\n\r\n<span style=\"font-family: arial, helvetica, sans-serif;\">What happens if the markets deem the FED Funds Rate increase to be a DOVISH hike?</span>\r\n\r\n<span style=\"font-family: arial, helvetica, sans-serif;\">Frankly, I cannot see this given that they should be announcing that all is on course for 3 or 4 rate hikes in 2018....but what happens if?</span>\r\n\r\n<span style=\"font-family: arial, helvetica, sans-serif;\">This reason alone, is a good enough one, to reduce your RISK exposure.</span>\r\n\r\n&nbsp;\r\n\r\n<span style=\"font-family: arial, helvetica, sans-serif;\"><u>4.3. CURRENT LIVE TRADES &amp; LIMIT ORDERS:</u></span>\r\n\r\n<span style=\"font-family: arial, helvetica, sans-serif;\"><u>4.3.1. CURRENT LIVE TRADES:\r\n\r\n</u></span>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2018/03/LIVE-17032018.png\"><img class=\"aligncenter size-full wp-image-11145\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2018/03/LIVE-17032018.png\" alt=\"\" width=\"678\" height=\"1024\" /></a>\r\n\r\n<span style=\"font-family: arial, helvetica, sans-serif;\"> <u>4.3.2. CURRENT LIMIT ORDER TRADES:</u></span>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2018/03/LIMIT-ORDERS-17032018.png\"><img class=\"aligncenter size-full wp-image-11146\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2018/03/LIMIT-ORDERS-17032018.png\" alt=\"\" width=\"787\" height=\"1024\" /></a>\r\n\r\n&nbsp;\r\n\r\n<span style=\"font-family: arial, helvetica, sans-serif;\"><u>4.4. FX BROKER NEWS and MARKET FEEDBACK:</u></span>\r\n\r\n<span style=\"font-family: arial, helvetica, sans-serif;\">I have had a couple of questions of late about the types of accounts offered by some brokers. These questions have been related to what type of account.</span>\r\n\r\n<span style=\"font-family: arial, helvetica, sans-serif;\">RAW ECN or a STANDARD STP account?</span>\r\n\r\n<span style=\"font-family: arial, helvetica, sans-serif;\">Basically, I see it quite simply as follows and it is a case of each to his or her own.</span>\r\n\r\n<span style=\"font-family: arial, helvetica, sans-serif;\">RAW ECN tend to be zero rate spreads, but you pay a commission separately on each trade. Unless you are trading an account over USD$100,000.00, I would not be bothered.</span>\r\n\r\n<span style=\"font-family: arial, helvetica, sans-serif;\">STP ACCOUNTS are the usual pay as go; you pay the fees in the initial spread as the trade triggers. What you see is what you get.</span>\r\n\r\n<span style=\"font-family: arial, helvetica, sans-serif;\">One can get very anal vis-à-vis a trade may not always trigger on a STP account whereas the RAW account it will trigger because there are no rate spreads to consider.</span>\r\n\r\n<span style=\"font-family: arial, helvetica, sans-serif;\">In my opinion, it’s all about your preferences on paying broker fees.</span>\r\n\r\n&nbsp;\r\n<ol start=\"5\">\r\n 	<li><span style=\"font-family: arial, helvetica, sans-serif; font-size: 14pt;\"><strong>THE FINAL SHOT:</strong></span></li>\r\n</ol>\r\n<span style=\"font-family: arial, helvetica, sans-serif;\">Nothing more to add here, I have said enough except,</span>\r\n\r\n<span style=\"font-family: arial, helvetica, sans-serif;\">As usual…</span>\r\n\r\n<span style=\"font-family: arial, helvetica, sans-serif;\">Always 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.</span>\r\n\r\n<span style=\"font-family: arial, helvetica, sans-serif;\">Scott Pickering</span>\r\n<span style=\"font-family: arial, helvetica, sans-serif;\">The Pip Accumulator</span>\r\n<span style=\"font-family: arial, helvetica, sans-serif;\"> Twitter: @ThePremService</span>\r\n<span style=\"font-family: arial, helvetica, sans-serif;\"><a href=\"http://weeklyfxdrivethru.com/disclaimer/\">http://weeklyfxdrivethru.com/disclaimer/</a></span>\r\n\r\n<span style=\"font-family: arial, helvetica, sans-serif;\">BLOG VERSION: #170 THE PREMIUM SERVICE</span>\r\n<span style=\"font-family: arial, helvetica, sans-serif;\">DATE: 17th March 2018</span>', 'USD STRENGTH BACK IN VOGUE  AHEAD OF FOMC', '', 'publish', 'open', 'closed', '', 'usd-strength-back-in-vogue-ahead-of-fomc', '', '', '2018-03-17 07:17:49', '2018-03-17 12:17:49', '', 0, 'https://weeklyfxdrivethru.com/?post_type=member_posts&#038;p=11250', 0, 'member_posts', '', 0),
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(11252, 1, '2018-03-17 07:17:49', '2018-03-17 12:17:49', '&nbsp;\r\n<ol>\r\n 	<li><span style=\"font-family: arial, helvetica, sans-serif; font-size: 14pt;\"><strong> THE FIRST SHOT – “THE SOAPBOX”:</strong></span><span style=\"font-family: arial, helvetica, sans-serif;\"><strong> </strong></span></li>\r\n</ol>\r\n<span style=\"font-family: arial, helvetica, sans-serif;\">Over the past 3 –4 months, I have been playing with the structure of this blog trying to achieve a balance between what is “FREE FOR ALL” versus what stays behind “CLOSED DOORS” for my PREMIUM SERVICE subscribers. I think that after input from a variety of sources I may finally be there with the format that works and covers all objectives.</span>\r\n\r\n<span style=\"font-family: arial, helvetica, sans-serif;\">What a week that was....</span>\r\n\r\n<span style=\"font-family: arial, helvetica, sans-serif;\">I wrote last in the blog about TRUMP being the modern-day ELLIOT CARVER, and whilst the post was a tongue in cheek observation of TRUMPS’s influence, I am starting to think that he is actually dominating the world’s news far more than I thought even 7 days ago!</span>\r\n\r\n<span style=\"font-family: arial, helvetica, sans-serif;\">For the love of God, who is going to win the contract for installing revolving doors at the White House entrance? Because, he needs them installed.</span>\r\n\r\n<span style=\"font-family: arial, helvetica, sans-serif;\">I approach this not from the point that people are moved on, that happens, it’s the quantity and the TRUMP comments that follow each exit makes him sound like he just wants to be surrounded by “YES” men. TRUMP is obviously a massive micro meddler and control freak. If you recall during his election campaign he often said that he alone would fix things, it would be just him. He was often pulled up on these statements and challenged and the questions just moved on to another subject. It does appear it’s his way or the highway at the White House. Despite how big an ego TRUMP has, he cannot manage the world.</span>\r\n\r\n<span style=\"font-family: arial, helvetica, sans-serif;\">This is a massive failing, especially with roles that extend into working with different countries like the Secretary of State. How on earth are people expected to develop relationships across countries and cultures if they are not given any longevity? It appears the only thing that TRUMP wants is 100% “YES” people. This is a really bad policy to run with and over time the U.S. will suffer. As far as I am aware, TRUMP cannot cast a net in a river to feed 5,000 people, nor can he turn water into wine.</span>\r\n\r\n<span style=\"font-family: arial, helvetica, sans-serif;\">With all of that said... it’s Tillerson out, Kudlow in and McMaster ordering boxes to pack up his personal effects. The TRUMP presidency is NOT going to change, the markets really don\'t care but I feel that eventually it will all catch up one way or another.</span>\r\n\r\n<span style=\"font-family: arial, helvetica, sans-serif;\">Plus...</span>\r\n\r\n<span style=\"font-family: arial, helvetica, sans-serif;\">The EUROZONE, mainly Barnier and Junker are riding very close to the edge, pushing the extremes to the UK government over BREXIT and how the EU / UK relationship would look from an EU perspective. Whilst, UK Prime Minister’s Theresa May’s recent speech was to outline the vision that the UK government had of the relationship between the EU and UK post BREXIT, it has been poo-poo’d by both Barnier and Junker.</span>\r\n\r\n<span style=\"font-family: arial, helvetica, sans-serif;\">I would think there will be a number of hardline BREXIT MP’s putting two fingers into the air saying basically “f*ck them”, lets walk away pay nothing and let’s see how they (the EU) get on without a huge trade partner. I would say emergency trade agreements in lines of the existing EU deal, but with a new “header” are printed up ready to be signed and implemented, bypassing the EUROZONE.</span>\r\n\r\n<span style=\"font-family: arial, helvetica, sans-serif;\">We must remember the base makeup of the EU. The EU is largely full of its own self-importance with non-elected bureaucrats based in Brussels, who are basically pen pushers without any big picture vision. You just have to look at the response to the TRUMP tariffs to see how they miss the point and focus on the wrong battle. Car tariffs are a great example, basically EU cars into the U.S. rate = 2.5%. U.S. cars into the EU = 10%. Whether you like TRUMP or not, this is NOT a level playing field.</span>\r\n\r\n<span style=\"font-family: arial, helvetica, sans-serif;\">Moving on...</span>\r\n\r\n<span style=\"font-family: arial, helvetica, sans-serif;\">BREXIT was overshadowed a little by the alleged Russian chemical agent attack on UK soil. This story will gather a pace as time moves forward as France, Germany and the U.S. now support the UK in their political moves against Russia.</span>\r\n\r\n<span style=\"font-family: arial, helvetica, sans-serif;\">Back to FX...</span>\r\n\r\n<span style=\"font-family: arial, helvetica, sans-serif;\">Trading this past week has been a nightmare for myself. I have given back some pips, although I have not traded very actively at all. The markets have mainly been slow and painful in tight ranges for most of last week as the FX markets began to consolidate ahead of the FOMC this week. We have seen the odd break here and there but to be honest most of the time we have remained range bound.</span>\r\n\r\n<span style=\"font-family: arial, helvetica, sans-serif;\">One important piece to note however is that the JPY has strengthen this week whilst the rest really remained range bound. I can only think that this is a safe haven play with all the geopolitical events hanging over the markets at the moment.</span>\r\n\r\n<span style=\"font-family: arial, helvetica, sans-serif;\">In addition, one can see that RISK OFF is creeping back into the markets. Commodity currencies are weakening, and the commodity cross rates are now moving and gathering a pace after having sold off last week.</span>\r\n\r\n<span style=\"font-family: arial, helvetica, sans-serif;\">To place matters into context, with regards to my trading performance, I have had such a good start to 2018, I should NOT complain about one poor week in isolation.</span>\r\n\r\n<span style=\"font-family: arial, helvetica, sans-serif;\"><strong> </strong></span>\r\n<ol start=\"2\">\r\n 	<li><span style=\"font-family: arial, helvetica, sans-serif;\"><strong><span style=\"font-size: 14pt;\"> THIS WEEKS IMPORTANT TRADE INFORMATION:</span>\r\n\r\n</strong></span></li>\r\n</ol>\r\n<span style=\"font-family: arial, helvetica, sans-serif;\"><u>2.1. ECONOMIC DATA:</u><u>\r\n</u>NOTE: Only the items that interest me are listed here.</span>\r\n\r\n<span style=\"font-family: arial, helvetica, sans-serif;\"><strong> <a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2018/03/ECON-DATA-17032018.png\"><img class=\"aligncenter size-large wp-image-11143\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2018/03/ECON-DATA-17032018-1024x876.png\" alt=\"\" width=\"1024\" height=\"876\" /></a></strong></span>\r\n\r\n<span style=\"font-family: arial, helvetica, sans-serif;\"><strong> </strong></span>\r\n\r\n<span style=\"font-family: arial, helvetica, sans-serif;\"><u>2.2. GEOPOLOTICAL EVENTS:</u></span>\r\n\r\n<span style=\"font-family: arial, helvetica, sans-serif;\"><strong> <a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2018/03/GEO-DATA-17032018-.png\"><img class=\"aligncenter size-large wp-image-11144\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2018/03/GEO-DATA-17032018--1024x878.png\" alt=\"\" width=\"1024\" height=\"878\" /></a></strong></span>\r\n\r\n<span style=\"font-family: arial, helvetica, sans-serif;\"><strong>\r\n</strong><u>2.3. BIAS CHART - </u><u>USD MAJORS SUPPORT and RESISTANCE:</u></span>\r\n\r\n<span style=\"font-family: arial, helvetica, sans-serif;\"><strong><a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2018/03/TCHART-17032018.png\"><img class=\"aligncenter size-large wp-image-11157\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2018/03/TCHART-17032018-1024x892.png\" alt=\"\" width=\"1024\" height=\"892\" /></a> </strong></span>\r\n\r\n<span style=\"font-family: arial, helvetica, sans-serif;\"><u>2.4. USD OVERVIEW – MY THOUGHTS:</u></span><span style=\"font-family: arial, helvetica, sans-serif;\"><strong> </strong></span>\r\n\r\n<span style=\"font-family: arial, helvetica, sans-serif;\">The DXY as you can see from the chart below is in a downtrend. Recently, in fact, the past few days in the run up to this weeks FED meeting, the USD has come to life.</span>\r\n\r\n<span style=\"font-family: arial, helvetica, sans-serif;\">My thoughts are contained on the chart below&gt;</span>\r\n\r\n<span style=\"font-family: arial, helvetica, sans-serif;\">Basically, a rate hike should give us a spike higher towards trend line resistance, maybe the 78.6% Fibonacci retracement and previous support level that should act as resistance.</span>\r\n\r\n<span style=\"font-family: arial, helvetica, sans-serif;\">I expect around this level to contain prices and the DXY then resume its downside move to re-test 88.00 again and, in my opinion, a continued move lower to 80.00.</span><span style=\"font-family: arial, helvetica, sans-serif;\"><strong> </strong></span>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2018/03/DXY-DAILY-17032018.png\"><img class=\"aligncenter size-large wp-image-11251\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2018/03/DXY-DAILY-17032018-1024x493.png\" alt=\"\" width=\"1024\" height=\"493\" /></a>\r\n\r\n<span style=\"font-family: arial, helvetica, sans-serif;\"><strong> </strong></span>\r\n\r\n<span style=\"font-family: arial, helvetica, sans-serif;\"><u>2.5. USD TRADING CHARTS:</u></span><span style=\"font-family: arial, helvetica, sans-serif;\"><strong> </strong></span>\r\n\r\n<span style=\"font-family: arial, helvetica, sans-serif;\"><strong>EUR/USD:</strong></span>\r\n\r\n<span style=\"font-family: arial, helvetica, sans-serif;\">The Monthly chart below shows this pair moving lower towards some key support areas. The 1.2090 area is what I consider the break out area that forced the last move higher. Ahead of that there is great interest around the 1.2150-60 area.</span>\r\n\r\n<span style=\"font-family: arial, helvetica, sans-serif;\">As we approach the FOMC with the 95% chance of an interest rate increase in the FED Funds rate on the cards, markets may be bringing the pair into the middle of the recent trading range of 1.2100 to 1.2550.</span>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2018/03/EURUSD-M-17032018.png\"><img class=\"aligncenter size-large wp-image-11162\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2018/03/EURUSD-M-17032018-1024x485.png\" alt=\"\" width=\"1024\" height=\"485\" /></a>\r\n\r\n<span style=\"font-family: arial, helvetica, sans-serif;\"><strong> </strong></span><span style=\"font-family: arial, helvetica, sans-serif;\"><strong> </strong></span>\r\n\r\n<span style=\"font-family: arial, helvetica, sans-serif;\"><strong>GBP/USD:</strong></span>\r\n\r\n<span style=\"font-family: arial, helvetica, sans-serif;\">From the Daily chart below it is clear to see that 1.4000 is a stiff resistance level. On several occasions it would be fair to say that sellers have stepped in aggressively as soon as the level comes into view.</span>\r\n\r\n<span style=\"font-family: arial, helvetica, sans-serif;\"> With the FOMC this week, it looks like a buying opportunity will be provided as we pullback into Jerome Powell’s press conference and the economic dot plots!</span>\r\n\r\n<span style=\"font-family: arial, helvetica, sans-serif;\">One would have to say that 1.3800 looks an easy target for bears.</span>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2018/03/GBPUSD-DAILY-17032018.png\"><img class=\"aligncenter size-large wp-image-11163\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2018/03/GBPUSD-DAILY-17032018-1024x485.png\" alt=\"\" width=\"1024\" height=\"485\" /></a>\r\n\r\n&nbsp;\r\n\r\n<span style=\"font-family: arial, helvetica, sans-serif;\"><strong>AUD/USD:</strong></span>\r\n\r\n<span style=\"font-family: arial, helvetica, sans-serif;\">The China Tariff and duty trade is in play here. As soon as someone mentions issues with China as a trader you should think AUD.</span>\r\n\r\n<span style=\"font-family: arial, helvetica, sans-serif;\">The AUD is moving lower with uncertainty added to the already stronger USD overall move.</span>\r\n\r\n<span style=\"font-family: arial, helvetica, sans-serif;\">The Weekly chart below shows support at the trend line around 0.7600. The Weekly candle on the chart looks VERY bearish.</span>\r\n\r\n<span style=\"font-family: arial, helvetica, sans-serif;\">If the China trade gathers momentum, this pair could re-test lows around 0.7200 without any problem at all in my opinion.</span>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2018/03/AUDUSD-WEEKLY-17032018.png\"><img class=\"aligncenter size-large wp-image-11161\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2018/03/AUDUSD-WEEKLY-17032018-1024x485.png\" alt=\"\" width=\"1024\" height=\"485\" /></a>\r\n\r\n<span style=\"font-family: arial, helvetica, sans-serif;\"><strong> </strong></span>\r\n\r\n<span style=\"font-family: arial, helvetica, sans-serif;\"><strong>NZD/USD:</strong></span>\r\n\r\n<span style=\"font-family: arial, helvetica, sans-serif;\">From the Daily chart below, it is clear that resistance around 0.7350 is quite stiff. We are now moving lower and my “DOUBLE TOP” pattern measured move will soon come into play.</span>\r\n\r\n<span style=\"font-family: arial, helvetica, sans-serif;\">I am bearish the Kiwi dollar and have been for over a year now. I still see the John Key, ex. Prime Minister target low at 0.6500 a real target once again.</span>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2018/03/NZDUSD-DAILY-17032018.png\"><img class=\"aligncenter size-large wp-image-11164\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2018/03/NZDUSD-DAILY-17032018-1024x485.png\" alt=\"\" width=\"1024\" height=\"485\" /></a>\r\n\r\n&nbsp;\r\n\r\n<span style=\"font-family: arial, helvetica, sans-serif;\"><strong>USD/CAD:</strong></span>\r\n\r\n<span style=\"font-family: arial, helvetica, sans-serif;\">This pair has had an explosive move higher on the back of BOC Governor Stephen Poloz, dovish comments, the NAFTA agreement issues and TRUMP comments contradicting those of Canadian Prime Minister Justin Trudeau.</span>\r\n\r\n<span style=\"font-family: arial, helvetica, sans-serif;\">It looks like 1.3200 move could be on the cards, especially if there is a HAWKISH USD response to Jerome Powell this week.</span>\r\n\r\n<span style=\"font-family: arial, helvetica, sans-serif;\">On the attached Weekly chart below you can see that the 2015 Trend line resistance comes into play just below 1.3200. I would expect prices to hold here, if they don\'t, look out above! Should prices hold, it could be a great spot to enter.</span>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2018/03/USDCAD-W-17032018.png\"><img class=\"aligncenter size-large wp-image-11165\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2018/03/USDCAD-W-17032018-1024x485.png\" alt=\"\" width=\"1024\" height=\"485\" /></a>\r\n\r\n&nbsp;\r\n\r\n<span style=\"font-family: arial, helvetica, sans-serif;\"><strong>USD/CHF:</strong></span>\r\n\r\n<span style=\"font-family: arial, helvetica, sans-serif;\">As you can see on the Monthly chart below, the triangle pattern is “RIPE” for a breakout. My thought process is a long side breakout towards parity once again.</span>\r\n\r\n<span style=\"font-family: arial, helvetica, sans-serif;\">There is a range in play, which I have been following of late which is from 0.9190 to 0.9850. I am a little reluctant to aggressively trade the CHF given its flight to safety and neutrality attraction.</span>\r\n\r\n<span style=\"font-family: arial, helvetica, sans-serif;\">As PREMIUM SERVICE subscribers are aware, I am long GBP/CHF and have the EUR/CHF close by.</span>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2018/03/USDCHF-M-17032018.png\"><img class=\"aligncenter size-full wp-image-11166\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2018/03/USDCHF-M-17032018.png\" alt=\"\" width=\"1024\" height=\"485\" /></a>\r\n\r\n&nbsp;\r\n\r\n<span style=\"font-family: arial, helvetica, sans-serif;\"><strong>USD/JPY:</strong></span>\r\n\r\n<span style=\"font-family: arial, helvetica, sans-serif;\">The triangle breakdown measured move play is still valid. This pair has been highly responsive of late with flight to safety also playing a part in my opinion.</span>\r\n\r\n<span style=\"font-family: arial, helvetica, sans-serif;\">I expect a spike following the FOMC, which should be viewed as a selling opportunity.</span>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2018/03/USDJPY-WEEKLY-17032018.png\"><img class=\"aligncenter size-full wp-image-11167\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2018/03/USDJPY-WEEKLY-17032018.png\" alt=\"\" width=\"1024\" height=\"485\" /></a>\r\n\r\n&nbsp;\r\n\r\n<span style=\"font-family: arial, helvetica, sans-serif;\"><strong> </strong></span>\r\n<ol start=\"3\">\r\n 	<li><span style=\"font-family: arial, helvetica, sans-serif; font-size: 14pt;\"><strong>THE PREMIUM SERVICE TRADING SUMMARY:</strong></span></li>\r\n</ol>\r\n<span style=\"font-family: arial, helvetica, sans-serif;\"><u>3.1. PREMIUM SERVICE PERFORMANCE YEAR TO DATE:</u></span>\r\n\r\n<span style=\"font-family: arial, helvetica, sans-serif;\">(Incorporating the last 5 PREMIUM SERVICE TRADES)</span>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2018/03/PS-SUMMARY-17032018.png\"><img class=\"aligncenter size-full wp-image-11147\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2018/03/PS-SUMMARY-17032018.png\" alt=\"\" width=\"1024\" height=\"858\" /></a>\r\n\r\n<span style=\"font-family: arial, helvetica, sans-serif;\">You can get on board and join from as little as CAD$10 for 10 days and then CAD$150.00 per month, currency conversions for CAD$150 is roughly as follows: -</span>\r\n\r\n<span style=\"font-family: arial, helvetica, sans-serif;\">GBP £90 per month</span>\r\n<span style=\"font-family: arial, helvetica, sans-serif;\"> EUR €100 per month\r\n</span><span style=\"font-family: arial, helvetica, sans-serif;\">USD $120 per month\r\n</span><span style=\"font-family: arial, helvetica, sans-serif;\">JPY 12,700 per month\r\n</span><span style=\"font-family: arial, helvetica, sans-serif;\">AUD $150 per month</span>\r\n\r\n<span style=\"font-family: arial, helvetica, sans-serif;\">This represents a great value way to subscribe…  </span>\r\n\r\n<span style=\"font-family: arial, helvetica, sans-serif;\">Go to my website <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a> for more details under the TAB – “SUBSCRIBE HERE”.</span>\r\n\r\n&nbsp;\r\n\r\n<span style=\"font-family: arial, helvetica, sans-serif;\"><strong> </strong></span>\r\n<ol start=\"4\">\r\n 	<li><span style=\"font-family: arial, helvetica, sans-serif; font-size: 14pt;\"><strong>PREMIUM SERVICE SUBSCRIBERS:</strong></span></li>\r\n</ol>\r\n<span style=\"font-family: arial, helvetica, sans-serif;\">(This section is for PREMIUM SUBSCRIBERS ONLY)</span>\r\n\r\n<span style=\"font-family: arial, helvetica, sans-serif;\"><u>4.1. TRADING REVIEW:</u></span>\r\n\r\n<span style=\"font-family: arial, helvetica, sans-serif;\">I suppose I had to have a bad run of trades. Although last week I was not trading much, I felt that every time I touched the keyboard I was committing myself to give $$$ back to the brokers.</span>\r\n\r\n<span style=\"font-family: arial, helvetica, sans-serif;\">On the positive side, I have my TRADE PLAN in my mind for how I am going to trade the FOMC. I am OK with all the trades I entered last week, there will be losing trades, it was the two USD/CAD trades (POS734 and POS736), that I just cannot understand why I did not stop them before they got started. Every other trade I can live with. I took the hit on the CAD trades last Friday.</span>\r\n\r\n<span style=\"font-family: arial, helvetica, sans-serif;\">Moving on...</span>\r\n\r\n<span style=\"font-family: arial, helvetica, sans-serif;\">Last week was a strange week. We had the usual TRUMPANTICS, as he continues to dominate the markets. WE are in a news driven environment at the moment, which is awkward to say the least as both TECHNICALS and FUNDAMENTALS appear not to matter. Thankfully, if that is the correct word, the FX market for most of last week was asleep.</span>\r\n\r\n<span style=\"font-family: arial, helvetica, sans-serif;\">I am really happy with my trades, GREEN or RED at the moment as I feel with increased USD strength, I have the opportunity to cash in on a few pips. I am also ready to switch into USD weakness when the timing is right. I am frightened about always repeating myself but from now to the FOMC press conference patience will be required.</span>\r\n\r\n<span style=\"font-family: arial, helvetica, sans-serif;\">I think that FX will just sleep, and the majors will really just move to the mid-range areas ahead of Jerome Powell. So, Monday and Tuesday next week, unless we have TRUMP imploding on Tariffs, China or North Korea, I am not expecting much at all.</span>\r\n\r\n&nbsp;\r\n\r\n<span style=\"font-family: arial, helvetica, sans-serif;\"><u>4.2. SENTIMENT,</u><u> FUNDAMENTAL &amp; MACRO THOUGHTS</u><u>:\r\n\r\n</u></span>\r\n\r\n<span style=\"font-family: arial, helvetica, sans-serif;\"><u>4.2.1. OVERVIEW THOUGHTS (MY MACRO PLAN &amp; IDEAS):</u></span>\r\n\r\n<span style=\"font-family: arial, helvetica, sans-serif;\">The FOMC has taken over all thoughts FX.</span>\r\n\r\n<span style=\"font-family: arial, helvetica, sans-serif;\">My fundamental thoughts have not alerted. I am now more convinced that I am on the right track and as we approach the FED meeting and the FOMC press conference my commodity cross rates are moving into position to hopefully blast higher next week.</span>\r\n\r\n<span style=\"font-family: arial, helvetica, sans-serif;\">I am now looking at the areas I need to get long EUR/USD and GBP/USD and short USD/JPY and USD/CAD plus the associated cross rates.</span>\r\n\r\n<span style=\"font-family: arial, helvetica, sans-serif;\">As mentioned last week, I think that we are once again heading into a transition period with the market.</span>\r\n\r\n<span style=\"font-family: arial, helvetica, sans-serif;\">The USD “SENTIMENT CHART” is still not perfectly aligned, which is quite surprising given the directional moves we saw towards the end of last week.</span>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2018/03/SENTIMENT-17032018.png\"><img class=\"aligncenter size-full wp-image-11148\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2018/03/SENTIMENT-17032018.png\" alt=\"\" width=\"785\" height=\"1024\" /></a>\r\n\r\n&nbsp;\r\n\r\n<span style=\"font-family: arial, helvetica, sans-serif;\"><u>4.2.2. OPEN TRADES...HOW I WILL APPROACH THE MARKET THIS WEEK:</u></span>\r\n\r\n<span style=\"font-family: arial, helvetica, sans-serif;\">I am simply preparing for FOMC trades.</span>\r\n\r\n<span style=\"font-family: arial, helvetica, sans-serif;\">I enter the week with AUD/CAD and NZD/CAD short trades in $$$ and I am going to try to hold these through the FOMC. They are more a China Tariff play.</span>\r\n\r\n<span style=\"font-family: arial, helvetica, sans-serif;\">The EUR/AUD long is now a flat trade. I am hoping that this will power on next week for a 200-300 pips gain.</span>\r\n\r\n<span style=\"font-family: arial, helvetica, sans-serif;\">The position trades, GBP/NZD (2) and EUR/NZD I intend to cover these hopefully in $$$ prior to the FOMC. Whilst one could call them commodity cross rate trades, certainly the GBP related trades will usually follow the GBP. I expect the GBP to dip hard after the FOMC. I removed the GBP/CHF position trade last Friday, simply on the back of the fact its allegiance is more GBP than CHF. In fact, it’s more EUR/GBP inverted, and the EUR/GBP could act very strangely next week. Therefore, it made 100% sense to me to remove this trade.</span>\r\n\r\n<span style=\"font-family: arial, helvetica, sans-serif;\"> I have a remaining NZD/USD position trade, which will remain in play.</span>\r\n\r\n<span style=\"font-family: arial, helvetica, sans-serif;\">The AUD/NZD trades we forget about them for now.</span>\r\n\r\n<span style=\"font-family: arial, helvetica, sans-serif;\">I see USD strength followed by weakness probably for at least couple of sessions, maybe into the following week.</span>\r\n\r\n<span style=\"font-family: arial, helvetica, sans-serif;\">It all depends on the forward guidance given from Jerome Powell and what the economic projections show.</span>\r\n\r\n<span style=\"font-family: arial, helvetica, sans-serif;\">As always, the headlines will focus on: - How many rate hikes and where is inflation?</span>\r\n\r\n<span style=\"font-family: arial, helvetica, sans-serif;\">With regards to adding trades, I have my eyes on AUD/USD and NZD/USD short trades into the FOMC. JPY cross rate trades will be very much post FOMC, along with any CAD trades and any limit orders that are in position ready to go.</span>\r\n\r\n<span style=\"font-family: arial, helvetica, sans-serif;\">I cannot express how big a meeting this in for the FED and Jerome Powell, I have been lucky in being able to remove a lot of RISK ahead of the meeting with pips and $$$. Had I not been a bloody idiot with the USD/CAD it would have been 250 pips better again!!</span>\r\n\r\n<span style=\"font-family: arial, helvetica, sans-serif;\">Finally, just THINK.</span>\r\n\r\n<span style=\"font-family: arial, helvetica, sans-serif;\">What happens if the markets deem the FED Funds Rate increase to be a DOVISH hike?</span>\r\n\r\n<span style=\"font-family: arial, helvetica, sans-serif;\">Frankly, I cannot see this given that they should be announcing that all is on course for 3 or 4 rate hikes in 2018....but what happens if?</span>\r\n\r\n<span style=\"font-family: arial, helvetica, sans-serif;\">This reason alone, is a good enough one, to reduce your RISK exposure.</span>\r\n\r\n&nbsp;\r\n\r\n<span style=\"font-family: arial, helvetica, sans-serif;\"><u>4.3. CURRENT LIVE TRADES &amp; LIMIT ORDERS:</u></span>\r\n\r\n<span style=\"font-family: arial, helvetica, sans-serif;\"><u>4.3.1. CURRENT LIVE TRADES:\r\n\r\n</u></span>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2018/03/LIVE-17032018.png\"><img class=\"aligncenter size-full wp-image-11145\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2018/03/LIVE-17032018.png\" alt=\"\" width=\"678\" height=\"1024\" /></a>\r\n\r\n<span style=\"font-family: arial, helvetica, sans-serif;\"> <u>4.3.2. CURRENT LIMIT ORDER TRADES:</u></span>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2018/03/LIMIT-ORDERS-17032018.png\"><img class=\"aligncenter size-full wp-image-11146\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2018/03/LIMIT-ORDERS-17032018.png\" alt=\"\" width=\"787\" height=\"1024\" /></a>\r\n\r\n&nbsp;\r\n\r\n<span style=\"font-family: arial, helvetica, sans-serif;\"><u>4.4. FX BROKER NEWS and MARKET FEEDBACK:</u></span>\r\n\r\n<span style=\"font-family: arial, helvetica, sans-serif;\">I have had a couple of questions of late about the types of accounts offered by some brokers. These questions have been related to what type of account.</span>\r\n\r\n<span style=\"font-family: arial, helvetica, sans-serif;\">RAW ECN or a STANDARD STP account?</span>\r\n\r\n<span style=\"font-family: arial, helvetica, sans-serif;\">Basically, I see it quite simply as follows and it is a case of each to his or her own.</span>\r\n\r\n<span style=\"font-family: arial, helvetica, sans-serif;\">RAW ECN tend to be zero rate spreads, but you pay a commission separately on each trade. Unless you are trading an account over USD$100,000.00, I would not be bothered.</span>\r\n\r\n<span style=\"font-family: arial, helvetica, sans-serif;\">STP ACCOUNTS are the usual pay as go; you pay the fees in the initial spread as the trade triggers. What you see is what you get.</span>\r\n\r\n<span style=\"font-family: arial, helvetica, sans-serif;\">One can get very anal vis-à-vis a trade may not always trigger on a STP account whereas the RAW account it will trigger because there are no rate spreads to consider.</span>\r\n\r\n<span style=\"font-family: arial, helvetica, sans-serif;\">In my opinion, it’s all about your preferences on paying broker fees.</span>\r\n\r\n&nbsp;\r\n<ol start=\"5\">\r\n 	<li><span style=\"font-family: arial, helvetica, sans-serif; font-size: 14pt;\"><strong>THE FINAL SHOT:</strong></span></li>\r\n</ol>\r\n<span style=\"font-family: arial, helvetica, sans-serif;\">Nothing more to add here, I have said enough except,</span>\r\n\r\n<span style=\"font-family: arial, helvetica, sans-serif;\">As usual…</span>\r\n\r\n<span style=\"font-family: arial, helvetica, sans-serif;\">Always 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.</span>\r\n\r\n<span style=\"font-family: arial, helvetica, sans-serif;\">Scott Pickering</span>\r\n<span style=\"font-family: arial, helvetica, sans-serif;\">The Pip Accumulator</span>\r\n<span style=\"font-family: arial, helvetica, sans-serif;\"> Twitter: @ThePremService</span>\r\n<span style=\"font-family: arial, helvetica, sans-serif;\"><a href=\"http://weeklyfxdrivethru.com/disclaimer/\">http://weeklyfxdrivethru.com/disclaimer/</a></span>\r\n\r\n<span style=\"font-family: arial, helvetica, sans-serif;\">BLOG VERSION: #170 THE PREMIUM SERVICE</span>\r\n<span style=\"font-family: arial, helvetica, sans-serif;\">DATE: 17th March 2018</span>', 'USD STRENGTH BACK IN VOGUE  AHEAD OF FOMC', '', 'inherit', 'closed', 'closed', '', '11250-revision-v1', '', '', '2018-03-17 07:17:49', '2018-03-17 12:17:49', '', 11250, 'https://weeklyfxdrivethru.com/2018/03/11250-revision-v1/', 0, 'revision', '', 0);
