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(10422, 1, '2017-11-18 05:50:39', '2017-11-18 10:50:39', '<strong>\r\n</strong>\r\n<ol>\r\n 	<li><strong>INTRODUCTION:</strong></li>\r\n</ol>\r\nWelcome.\r\n\r\nThis week’s DRIVE THRU takes on a new format. I am not changing for changing sake, I am responding to comments. The main purpose of this blog is to formally communicate with my PREMIUM SERVICE subscribers, but it does have a dual purpose. The second purpose is to inform and hopefully attract serious FX traders to become new PREMIUM SERVICE subscribers. It is always a balance and for about 4 years now, I keep tweaking the content. I hope that you like this revision. Given my history in this regard it will NOT be the last.\r\n\r\nMoving on…\r\n\r\nLast week had it all; boredom, excitement, annoyance, frustration, surprise plus profits and losses and several shots of Jack Daniels… that was just Tuesday. I think I read somewhere that it was the strongest / biggest single day rally in the USD for years.\r\n\r\nIt certainly shook the markets for those playing the EUR/USD (Head and Shoulders) / DXY (Inverted Head and Shoulders). Money flows at the moment are driving these huge moves. The NIKKEI had a 20% move higher in a couple of months. Fund managers are looking for value as we head into the year end, monies are moving to Europe away from Japan etc.… there is a lot going on and currencies are being used in huge volumes to facilitate a lot of these moves.\r\n\r\nOvernight last Thursday into Friday morning the PREMIUM SERVICE was blasted with over 750 pips of profit when my core short positions across the AUD and NZD drilled home pips across several trades.\r\n\r\nFor me last week was a two-day trading week… All that wasted time for the other days sitting in front of screens!!\r\n\r\nIt has been quite some time since I have written “RISK OFF” in my blog but we are sort of there as we are bouncing around in the US equity markets. It is a battle between the “BUY THE DIP” mentality and market bears. Is the most hated rally ever finally being sold? Not sure but a pullback of sorts, and its minimal in the grand scheme of things is happening.\r\n\r\nEnough of that…\r\n\r\nOver the past month or so I have been sampling my competition to the PREMIUM SERVICE.\r\n\r\nThere are so many chart analysts out there, but that is all they do. They look backwards and tell what patterns were formed and why, but there is very little out there who look forward and trade, in fact I doubt very many of them have skin in the market.\r\n\r\nI have looked across the spectrum; costly to cheap and well-known to unknown.\r\nI followed big names who have tens of thousands of followers on twitter, as well as specific trade set up providers and analysts from brokers. In total about 10 names/ businesses, here is a sample of what I came across. It’s not totally inclusive as some were just not worth the print!\r\n\r\n<strong><u>TV ANAYLST WITH OWN FX SUPPORT BUSINESS (UK BASED)</u></strong>: Is a regular guest on BNN, CNBC and BLOOMBERG, huge on Twitter. In my opinion, he is a gambler. He puts trades up a minute or two before high beta news events. It\'s a 50-50 guess. You hear about the good ones on Twitter and the failures disappear. The service covers all markets, I am just Forex, so a lot of what I received was great for correlations but nothing revolutionary.  I made money but the cost was double what I charge. Lots of supporting information, not sure where its cut and pasted from. Response time to questions poor.\r\n\r\nIt was a high cost, I made money but the gambling trades are stupid in my opinion.\r\n\r\n<strong><u>TV ANAYLST WITH OWN FX SUPPORT BUSINESS (US BASED): </u></strong>Another, is so fast and impossible to follow on a webinar and the amount of assumptions made are incredible. This service provider is a regular on CNBC. All the trades lost money. Analysis is good but the implementation of trades a joke. It was all over the map for me, no discipline, no structure. The chat room was frankly dangerous, no management, inexperienced traders being exposed to all sorts of crap. Is it any wonder FX gets a bad name? I would close that down right now.\r\n\r\nThere are so many cost options, so much to take in, maybe something I did NOT buy worked but I doubt it. I am confused about the whole package options and I blame this service for my migraine during the week. Response time to questions excellent.\r\n\r\nCannot possibly trade LIVE trades. Very well-known must live off huge fee incomes from webinars, on-line books, algorithm sales (they don\'t work either) and TV appearance fees.\r\n\r\n<strong><u>BROKER ANALYST (UK BASED):</u></strong> This person from a large Broker, also on Business TV a fair bit, I respect as a chart analyst, but the LIVE trading is a fecking joke. He simply never trades. It’s all theory. No skin in the game.\r\n\r\n<strong><u>TRADES SERVICE PROVIDER (HONG KONG BASED):</u></strong><strong>  </strong>Four times more expensive than the PREMIUM SERVICE no supporting information for trades, poor response times and trades were all 10 or 15 pip scalps that would NOT cover the cost of the subscription unless you were trading 4/5 standard lots a time. Not my target audience and too high RISK for most people. I just about broke even. Not my cup of tea. Now they are SPAMMING me… Jesus, Mary and Joseph!!\r\n\r\n<strong><u>SUMMARY:</u></strong>\r\n\r\nI have faults, just ask my wife! Trading in the FX market I always have real skin in the market. I feel the trades. I trade without emotion (most times) because I manage RISK. I do not have hundreds of subscribers, no way near. I have a solid group of serious FX traders from around the globe and two syndicates through spokespeople that adds about 20 additional traders into the mix. I keep it simple and I try my best to provide a personal and prompt service. I, the PREMIUM SERVICE am looking for serious traders who want to trade, not have to trade, I hope that makes sense.\r\n\r\nTo do what I do, I can’t have more than 50 subscribers. There are still a few spaces left.\r\n\r\nI may chop ‘n change trades around to fit the market conditions, which can be difficult to follow with everyone being in different time zones, but that is trading. I trade to make $$$ not to lose $$$.\r\n\r\nI was up at 3.30AM on a couple of mornings last week playing with trades. That is the reality of trading in the FX market, its open from Sunday at 5PM EST and closes the following Friday at 5PM EST. I am NOT interested in “that trade was closed whilst I was asleep!” If you are a serious trader you have little sleep between Sunday and Friday each week.\r\n\r\nBack on track…\r\n\r\nAt the end of the day from my research, did I find anything I want to add to the PREMIUM SERVICE?\r\n\r\nThere are a couple of things I will introduce moving forward but overall, I feel good about the research I provide it is mostly brief and to the point. Those services that provide lots of commentary, I strongly suspect DO NOT TRADE. I struggle for hours as it is now and I consider myself damn good at time management.\r\n\r\nFinally,\r\n\r\nThere will be no blog next weekend, we have friends flying in from the UK. The opportunities to trade will be slim. Plus, zero time for completing research and finding the 10 hours or so required to complete the blog from start to finish will just not be there. So, it is a see you in two weeks after this week’s review.\r\n\r\n&nbsp;\r\n<ol start=\"2\">\r\n 	<li><strong></strong><strong> THE FX MARKET PLACE:</strong>&nbsp;</li>\r\n</ol>\r\n<u>LOOKING AHEAD THIS COMING WEEK:</u>\r\n\r\n<u>\r\nTHIS WEEK’S ECONOMIC DATA RELEASES:</u>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/11/ECON-DATA-19112017.png\"><img class=\"aligncenter size-large wp-image-10401\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/11/ECON-DATA-19112017-1024x884.png\" alt=\"\" width=\"1024\" height=\"884\" /></a>\r\n\r\n&nbsp;\r\n\r\n<u>USD MAJORS – SUPPORT &amp; RESISTANCE LEVELS with BIAS:</u>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/11/TCHART-19112017.png\"><img class=\"aligncenter size-full wp-image-10402\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/11/TCHART-19112017.png\" alt=\"\" width=\"1014\" height=\"898\" /></a>\r\n\r\n&nbsp;\r\n\r\n<u>USD MAJORS – TRADING CHARTS: </u>\r\n\r\nMore often than not I will use DAILY CHARTS for my analysis.\r\n\r\n<strong>\r\n</strong>EUR/USD:\r\n\r\nOverall recent data from the EUROZONE has been good. We have seen a pullback from the recent 1.1860 highs. RSi (Relative Strength Indicator) is moving higher and given the better data, the bulls are trying to regain control once again. I think that we need to see a break higher above 1.1880 (BLACK LINE) for the bulls to be back in control.\r\n\r\nSupport is good circa. 1.1660 and on the chart below (PURPLE LINE) and more recently at 1.1750 (BURGUNDY LINE).\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/11/EURUSD-D-19112017.png\"><img class=\"aligncenter size-large wp-image-10414\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/11/EURUSD-D-19112017-1024x452.png\" alt=\"\" width=\"1024\" height=\"452\" /></a>\r\n\r\n&nbsp;\r\n\r\nGBP/USD:\r\n\r\nThe recent weakening USD has pulled cable higher. I am however always thinking that this pair is one news item away from a 100-pip fall and it could happen at any time.\r\n\r\nThe chart below shows a bullish set of candles, which completely goes against my FUNDAMENTAL views regarding this pair. Price was rejected very strongly at 1.3260 last Friday. That rejection stopped me out of GBP/NZD and GBP/AUD longs at the time… bugger.\r\n\r\nI think that we range trade with this pair between the two Fibonacci levels of 23.6% at 1.3170 and 38% at 1.3260.\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/11/GBPUSD-D-19112017.png\"><img class=\"aligncenter size-large wp-image-10415\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/11/GBPUSD-D-19112017-1024x452.png\" alt=\"\" width=\"1024\" height=\"452\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\nAUD/USD:\r\n\r\nThis pair is under pressure as you can clearly see from the chart below. We were held up at 61.8% Fibonacci level last Friday. The spike from this low will allow traders such as me through the PREMIUM SERVICE to re-load short trades this week. The bigger the spike the better… bring it on.\r\n\r\nWe are getting close to 30 level on the RSi therefore, a couple of re-set trading sessions would suit me fine!!\r\n\r\nThere are several potential trading patterns one can use on the pair, for now I am running with a channel set up as this pair seems to like channels.\r\n\r\nAs long as the RBA remains neutral I cannot see this pair moving higher in the near term.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/11/AUDUSD-D-19112017.png\"><img class=\"aligncenter size-large wp-image-10413\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/11/AUDUSD-D-19112017-1024x452.png\" alt=\"\" width=\"1024\" height=\"452\" /></a>\r\n\r\n&nbsp;\r\n\r\nNZD/USD:\r\n\r\nWe are getting closer to a 30 reading on the RSi. We can of course drop below but I am hoping for a spike to allow me to re-load PREMIUM SERVICE short trades.\r\n\r\nThe political uncertainty in New Zealand is driving this pair lower and for the foreseeable future I see no change in this connection.\r\n\r\nPREMIUM SERVICE subscribers know what my target is to the downside with this pair, the candlestick pattern does look very bearish to me.\r\n\r\nBulls if there are any, will not be back in control of this pair unless we break back above 0.7000, which, seems an awfully long way away at the moment when one looks at current pricing.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/11/NZDUSD-D-19112017.png\"><img class=\"aligncenter size-large wp-image-10416\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/11/NZDUSD-D-19112017-1024x452.png\" alt=\"\" width=\"1024\" height=\"452\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\nUSD/CAD:\r\n\r\nBugger…\r\n\r\nI really want this pair above 1.2900 to short. After last Friday’s in line inflation print, the pair spiked to the 61.8% Fibonacci level and then pulled back.\r\n\r\nThe upward sloping channel is basically still intact on the chart below, so I still have some hope for now. Who am I kidding? This pair is bound to about turn and break through the trend line support and leave me behind!!\r\n\r\nWe have Retail Sales data this week. Does this mean that I may have to wait another week for my short entry?\r\n\r\nBelow 1.2725 would make me have to re-think my PLAN.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/11/USDCAD-D-19112017.png\"><img class=\"aligncenter size-large wp-image-10417\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/11/USDCAD-D-19112017-1024x452.png\" alt=\"\" width=\"1024\" height=\"452\" /></a>\r\n\r\n&nbsp;\r\n\r\nUSD/CHF:\r\n\r\nAm I dreaming with the pennant / flag patterns on the cart below? It is rather an awkward shape. The measured moves play to 1.0460 (BURGUNDY) and 1.0175 (BLACK).\r\n\r\nI am struggling to know what to do with this pair. The PREMIUM SERVICE has a small long trade, which is out of the money at the moment. I am not sure what to do with this pair, but I do know that longer-term I want to be long.\r\n\r\nI am working on the fact we are in a range of 0.9840 to a.0040.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/11/USDCHF-D-19112017.png\"><img class=\"aligncenter size-large wp-image-10418\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/11/USDCHF-D-19112017-1024x452.png\" alt=\"\" width=\"1024\" height=\"452\" /></a>\r\n\r\n&nbsp;\r\n\r\nUSD/JPY:\r\n\r\nBecause I am stupid I let 60 pips of profit disappear with this pair last Friday… argh!!\r\n\r\nRISK sentiment is ruling this pair at the moment as the NIKKEI sells off and uncertainty persists in Washington. Add into the mix treasury yields. Now ask me why did I give up my short so cheaply? Because I am stupid!!\r\n\r\nThis pair has 108.00 written all over it in my opinion. The 200 DAY SMA comes in around 111.80, which was original take profit level, but a break below here would NOT surprise me and a test of 110.00, the 61.8% Fibonacci level would seem reasonable to me for the shorter term.\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/11/USDJPY-D-19112017.png\"><img class=\"aligncenter size-large wp-image-10419\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/11/USDJPY-D-19112017-1024x452.png\" alt=\"\" width=\"1024\" height=\"452\" /></a>\r\n\r\n&nbsp;\r\n\r\n<u>THOUGHTS ON THIS WEEK’S ECONOMIC DATA:</u>\r\n\r\nMost of the economic data releases this week are related to speeches by Central Bank leaders. Therefore, it is reactionary news, which of late I have not enjoyed much as it has been lacking conviction or momentum. The recent exceptions being the BOE Super Thursday and Draghi’s ECB Press Conference. There was certainly direction following these, but the rest… not my cup of tea.\r\n\r\nOf what remains, the following short list interests me: -\r\n\r\n<strong><u>AUD:</u></strong><u> MONETARY POLICY MEETING MINUTES</u>.\r\n\r\nThese minutes surely to God cannot be as much of a snooze fest as the original statement release. It passed basically without a flicker. Philip Lowe also speaks about 12 hours after the minutes are published.\r\n\r\nThe RBA are neutral. It will be interesting to see if any timescales on policy were discussed plus any inklings vis-a-vis housing prices in the Australian market.\r\n\r\n<strong><u>\r\nUSD:</u></strong><u> FOMC MEETING MINUTES.</u>\r\n\r\nIt’s not about this year, 2017 that has me including this item in this section, it is about future discussions into 2018. At the end of the day with a new FED chair moving in early next year, I am not expecting future policies to be changed or placed on hold. Central Banks are well oiled dinosaurs that move so slowly and like massive oil tankers when a change of policy is made in the sense that it takes oil tankers 5/6 miles to turnabout.\r\n\r\nRate hikes into 2018 is what will catch the eye in this release.\r\n\r\n&nbsp;\r\n\r\n<strong><u>CAD:</u></strong><u> CORE RETAIL SALES.</u>\r\n\r\nI am looking to short the USD/CAD and add to my CORE SHORT POSITION. Therefore, I want the poor data to continue to give me the best entry level possible. The closer to 1.3000 the better…. I am waiting.\r\n\r\nBeing realistic however, last month’s reading was a dismal negative 0.7%. I would be astonished if a negative print was repeated in the run up months to Christmas.\r\n\r\n&nbsp;\r\n\r\n<u>HOW TO PLAY THE MARKET THIS WEEK:</u>\r\n\r\nPersonally, I believe that we are in a consolidation period once again. Last week the USD was whacked and the commodity currencies were taken to the woodshed.\r\n\r\nThe majors and the cross rates in my opinion need to re-set. There were some massive moves over the past week. EUR/USD +800 pips, GBP/NZD about +600 pips or so and GBP/AUD about +500 pips.\r\n\r\nThe Monthly ATR (Average True Range) GBP/AUD is just under 1,000 pips so when you consider that 500 pips was the range last week, we need to consolidate the moves. Not that we have to consolidate with the cross-rate pairs, they are very volatile but you have to be aware of these facts into this week.\r\n\r\nWe are light on true economic data this week and therefore we will be at the will of the news wires… oh shit I can hear you saying.\r\n\r\nYes regretfully, it will be the Senate and the numbers of GOP senate members that will either vote yes or no on the TRUMP TAX REFUND. From what I can see it’s no longer tax reform, that is far too radical for dysfunctional politicians to stomach.\r\n\r\nBREXIT will feature as progress really needs to be established prior to the end of the year. We are soon into the season of lavish Christmas Parties in Brussels. The expense accounts will be out in full and the hospitality industry will move up from yellow to red alert as the cha ching of cash and need for extra credit card swipe machines intensifies.\r\n\r\nIf David Davis (UK Chief negotiator) doesn’t get some UK BREXIT positives on paper pre-Christmas, I can see a Tory party revolt and a new leader in place for early 2018. I write this and I am fully aware that no one with any grey matter in their heads would want the poison chalice of dealing with BREXIT, unless you do not mind shoving two fingers in the air to the EU and taking the no deal option…. enter Boris Johnson.\r\n\r\nI think therefore that trading USD majors especially the EUR/USD and USD/JPY will be very reactionary to US data and BREXIT will keep anything GBP tied up.\r\n\r\nTherefore, the commodity currencies should offer us option. The AUD and NZD currencies in particular are weak and trading very heavily. Whilst I believe we have to allow for resetting pullbacks to enter these currencies remain the best option for trading pairs with liquidity.\r\n\r\nThe NZD is especially under pressure politically and moves lower should continue as long as political uncertainties continue. The AUD is being pushed lower by the RBA. Hats off to Philip Lowe this is being done professionally and the move is to a large extent given what usually happens being conducted under the radar.\r\n\r\nI have already said we should wait for the commodity cross rates to reset so that leaves the smaller currencies and exotic pairs.\r\n\r\nI closed a number of trades last Friday pre-weekend on the failure of the AUD and NZD currencies. I still think that pairs like the AUD/JPY, NZD/JPY, AUD/NZD, NZD/CAD etc. are still viable until the market reset is completed.\r\n\r\n&nbsp;\r\n<ol start=\"3\">\r\n 	<li><strong> THE PREMIUM SERVICE:</strong></li>\r\n</ol>\r\nThe PREMIUM SERVICE is my own subscriber based Forex support service that offers subscribers my suggested trade set-ups and market commentaries.\r\n\r\nFull details of the PREMIUM SERVICE and costs to subscribe plus the various trade styles and how suggested trade set-ups are communicated can be found on my website landing page at <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a> by selecting the HISTORY &amp; PERFORMANCE tab.\r\n\r\n<u>CURRENT 2017 PREMIUM SERVICE PERFORMANCE:</u>\r\n\r\nPIPS ADDED LAST WEEK:           = +1,276 pips\r\n\r\nPIPS MONTH TO DATE:                = +1,445 pips\r\n\r\nYEAR TO DATE:                              = +11,847 pips\r\n\r\nFurther information can be found by clicking TESTIMONIALS, PART-TIME TRADERS and FX PROMOTIONS tabs on my website  <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a>\r\n\r\nAlternatively, if you prefer to watch a video recording about the PREMIUM SERVICE, click the link below. You will be directed to a 40-minute webinar presentation entitled “AN INTRODUCTION TO THE PREMIUM SERVICE”.\r\n\r\n<a href=\"http://screencasts.weeklyfxdrivethru.com/watch/cb6fqiIAZX\">http://screencasts.weeklyfxdrivethru.com/watch/cb6fqiIAZX</a>\r\n\r\nTo subscribe to THE PREMIUM SERVICE, you will require a valid credit card.\r\n\r\n&nbsp;\r\n<ol start=\"4\">\r\n 	<li><strong> PREMIUM SERVICE SUBSCRIBERS ONLY:</strong></li>\r\n</ol>\r\n(Only SUBSCRIBERS to the PREMIUM SERVICE can view this section of the BLOG)\r\n\r\n<u>4:1. TRADING REVIEW:</u>\r\n\r\nHoly crap a two-day trading week, give me more of that.\r\n\r\nI hope that you guys caught some of the moves. I know a couple of the newbie traders are copying most trade set-ups and I have heard from them vis-à-vis their delight.\r\n\r\nI still think we have a little more to go with the AUD and NZD weakness trades. As I have written in the blog already we need to see a reset of overbought and oversold conditions.\r\n\r\nThe cross rates have really been kind to me this past month or so. As I have mentioned on several occasions this year, we need to see sentiment and momentum. We had “RISK OFF” and the commodity currencies responded true to form. This type of trade has literally been out the market for two years.\r\n\r\nI am still however, not letting trades run beyond the 50 – 100 pip levels. I still do NOT trust this market.\r\n\r\nI am making a few changes for 2018.\r\n\r\nI have been checking out my competition, and whilst I have some issues to iron out basically I feel comfortable with what I have going with just a couple of changes here and there. It’s all about time. I am still a trader and need time to reflect and research. I cannot blast out 15 trades a day with 10 pip goals, that is just NOT me. But it is also very hard to try and trade SWING TRADING, in fact, I think it’s very much impossible of late and if it happens its pure fluke. But I am still trying as it is my core.\r\n\r\nFUNDAMENTAL TRADING still wins out in my opinion and trading with Central Bank Monetary Policy is the core still for next year.\r\n\r\nI am looking at bringing back the LIVE “DRIVE THRU” webinar, but I need a software package that is good and works with Safari.\r\n\r\nSubscriptions will not increase in 2018.\r\n\r\nI am toying with adding another TRADING STYLE that I have been testing out recently. More about this early December once 90 days worthy of results are in.\r\n\r\n<u>\r\n</u><u>4:2. SENTIMENT CHART,</u><u> FUNDAMENTAL &amp; MACRO THOUGHTS</u><u>:</u>\r\n\r\n&nbsp;\r\n\r\nInto the year-end I think that I will get another shot at AUD and NZD weakness.\r\n\r\nThis SHOULD continue into 2018 as I am of the opinion that Central Bank divergence will become the trade moving forward.\r\n\r\nI am not 100% because of the uncertainty surrounding TRUMP. He wants a weak USD and he will talk down the USD but this will in no way be deemed to be intervention in the markets. It will be spun.\r\n\r\nI am still looking to get long GBP pairs across the board, but as mentioned recently I still believe that there is another substantial move lower in cable. The Theresa May situation and that added uncertainty makes me continue to believe that every day we trade GBP long we are risking a 100+ pip drop on the back of political fallout in the UK or a negative news item regarding BREXIT.\r\n\r\nI have my ARMAGGEDON GBP TRADES on a spreadsheet ready and armed to go!\r\n\r\nI am still looking to also get long the CHF across the board. This has to wait though until little rocket man is sorted out.\r\n\r\nLooking near term…\r\n\r\nSentiment is still mixed.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/11/SENTIMENT-19112017.png\"><img class=\"aligncenter size-large wp-image-10403\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/11/SENTIMENT-19112017-768x1024.png\" alt=\"\" width=\"768\" height=\"1024\" /></a><u> </u>\r\n\r\n<u>4:3. TRADING PLANS:</u>\r\n\r\n<u>4:3.1. TRADING PLAN OVERVIEW THIS WEEK:</u>\r\n\r\nIt will probably be a slow start to trading next week. We will be news driven so I would prefer to see a European session out of the way first.\r\n\r\nMy action plan for the week is: -\r\n<ol>\r\n 	<li>USD sentiment is still all over the place. Therefore, I will stay away as much as possible from the majors.</li>\r\n 	<li>Re-establish some cross-rate trades after the consolidation reset has taken place.</li>\r\n 	<li>Focus on re-establishing AUD and NZD short trades.</li>\r\n 	<li>CAD HEDGES. I am looking for over 1.2850 to enter shorts. I am close to getting this following last Friday’s data. Hopefully some follow through early in the week will give me an entry level that I will be happy with.</li>\r\n</ol>\r\n<u>4:3.2.  EXISTING CORE TRADES (PLANS &amp; STRATEGIES):</u>\r\n\r\nI am STILL bearish the CAD, AUD and NZD currencies. Last Friday I had a huge clear-out and I am now in re-build mode on suitable pullbacks.\r\n\r\nAs mentioned last week, the CAD is on the back burner for now. I STILL have three HEDGED trades to work through. There is no rush, but I will freely admit I am sick of looking at them blocking up my broker account live trades data area!\r\n\r\nThe AUD and NZD I am patiently waiting for pullbacks to use the opportunity to re-load again across the board.\r\n\r\nThe market itself is still broadly range bound and daily moves on most days are for the most part quite limiting.\r\n\r\n<strong><u>THE CAD:</u></strong>\r\n\r\nCurrently, I am live the following: -\r\n\r\n3 x live short USD/CAD trades. All three are HEDGED. No OUT trades are placed yet.\r\n\r\nPlus, I have a long CAD/JPY LIMIT ORDER in place but it is currently over 300 pips from the current market pricing.\r\n\r\nMY PLAN: My belief is still that the USD/CAD is a short trade. I am waiting for 1.2850-1.2910 to establish 3 x “OUT” trades for my HEDGED trades.  I have my “OUT” trade LIMIT ORDERS in place at 1.2910. The question is whether I will be able to get my preferred entry level or not.\r\n\r\nThe recent highs have topped out around 1.2915 on two or three occasions. I am expecting USD strength to filter back through the market which will help my target entry levels. I want to use the USD strength to sell into this week or next week if possible and establish my “OUT” trades for these HEDGES.\r\n\r\nBe prepared, I could be waiting several weeks here until the market conditions are right.\r\n\r\nI have no plans currently to place / related trades against other pairs.\r\n\r\n&nbsp;\r\n\r\n<strong><u>THE NZD</u></strong>:\r\n\r\nCurrently I have 3 x live long AUD/NZD trades.\r\n\r\nPlus: - I have 2 more AUD/NZD long trades in position as LIMIT ORDERS&gt;\r\n\r\nMY PLAN: I will be looking to add NZD trades across the board as soon as I see a meaningful pullback to provide beneficial pricing.\r\n\r\n&nbsp;\r\n\r\n<strong><u>THE AUD:</u></strong>\r\n\r\nCurrently live I have a AUD/JPY short.\r\n\r\nMY PLAN: - To add back trades across the board at the start of this coming week that I removed at the end of last week.\r\n\r\n&nbsp;\r\n\r\n<u>4:4. CURRENT LIVE TRADES &amp; LIMIT ORDERS:</u><u> </u>\r\n\r\nCURRENT LIVE TRADES:\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/11/LIVE-19112017.png\"><img class=\"aligncenter size-large wp-image-10405\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/11/LIVE-19112017-919x1024.png\" alt=\"\" width=\"919\" height=\"1024\" /></a>\r\n\r\nCURRENT LIMIT ORDER TRADES:\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/11/LIMIT-ORDERS-19112017.png\"><img class=\"aligncenter size-large wp-image-10404\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/11/LIMIT-ORDERS-19112017-1024x991.png\" alt=\"\" width=\"1024\" height=\"991\" /></a>\r\n\r\n&nbsp;\r\n\r\n<u>4:5. FX BROKER NEWS with their MARKET FEEDBACK:</u>\r\n\r\nHave you guys noticed the analysts to most brokers have been booted out into doing LIVE WEBINARS in an attempt to increase retail trader numbers for the year end and into 2018?\r\n\r\nGood Lord some of them I swear to God have never seen an actual trading platform before, they are so used to working off a BLOOMBERG terminal. If you want a giggle scout twitter, they will be there this week and probably every week through to Christmas.\r\n\r\nSo, the brokers intentions are clear. BONUS $$$ and FREE WEBINARS. Be very careful on the offers there are NO free lunches in FX.\r\n\r\n<strong> </strong>\r\n<ol start=\"5\">\r\n 	<li><strong> INTO THE CLOSE:</strong></li>\r\n</ol>\r\n<u>WANT A FREE PREMIUM SERVICE SUBSCRIPTION:</u>\r\n\r\nIf you like what you have read in this blog and would like the chance to win a FREE SUBSCRIPTION valued at CAD$150.00, all you need to do is subscribe to my FREE NEWSLETTER (this blog), by adding your email address on my welcome page just below my cube logo at <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a>\r\n\r\n<u>\r\nPREMIUM SERVICE SUBSCRIPTIONS:</u>\r\n\r\nIf you like what you’ve read in this blog and should you want to go a stage further and subscribe to the PREMIUM SERVICE, this can be done on my website <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a> under the Tab SUBSCRIBE HERE.\r\n\r\nSubscribing to the PREMIUM SERVICE is not just about receiving a larger “DRIVE THRU” blog packed with more trading supporting information, my thoughts and ideas. There is much more to a subscription than those things. Check it all out under the tab HISTORY &amp; PERFORMANCE on my website <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a>\r\n\r\nAlternatively, if you prefer to watch a video recording about the PREMIUM SERVICE, click the link below. You will be directed to a 40-minute webinar presentation entitled “AN INTRODUCTION TO THE PREMIUM SERVICE”.\r\n\r\n<a href=\"http://screencasts.weeklyfxdrivethru.com/watch/cb6fqiIAZX\">http://screencasts.weeklyfxdrivethru.com/watch/cb6fqiIAZX</a>\r\n\r\nTo subscribe to THE PREMIUM SERVICE, you will require a valid credit card.\r\n\r\n<u>\r\nCLOSING THOUGHTS:</u>\r\n\r\nNothing more to add here, I have said enough except,\r\n\r\nAs usual…\r\n\r\nAlways remember longevity in Forex trading can only be achieved through trading with good RISK and MONEY MANAGEMENT, and above all set your position sizes in accordance with the size of your account and allow for some flexibility.\r\n\r\nScott Pickering\r\nThe Pip Accumulator\r\nTwitter: @ThePremService\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/disclaimer/\">http://weeklyfxdrivethru.com/disclaimer/</a>\r\n\r\nBLOG VERSION: #156 PREMIUM SERVICE\r\n19th November 2017\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n&nbsp;', 'KIWI WILL REMAIN UNDER PRESSURE', '', 'inherit', 'closed', 'closed', '', '10420-revision-v1', '', '', '2017-11-18 05:50:39', '2017-11-18 10:50:39', '', 10420, 'https://weeklyfxdrivethru.com/10420-revision-v1/', 0, 'revision', '', 0);
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(10429, 1, '2017-11-18 06:23:10', '2017-11-18 11:23:10', '<strong>\r\n</strong>\r\n<ol>\r\n 	<li><strong>INTRODUCTION:</strong></li>\r\n</ol>\r\nWelcome.\r\n\r\nThis week’s DRIVE THRU takes on a new format. I am not changing for changing sake, I am responding to comments. The main purpose of this blog is to formally communicate with my PREMIUM SERVICE subscribers, but it does have a dual purpose. The second purpose is to inform and hopefully attract serious FX traders to become new PREMIUM SERVICE subscribers. It is always a balance and for about 4 years now, I keep tweaking the content. I hope that you like this revision. Given my history in this regard it will NOT be the last.\r\n\r\nMoving on…\r\n\r\nLast week had it all; boredom, excitement, annoyance, frustration, surprise plus profits and losses and several shots of Jack Daniels… that was just Tuesday. I think I read somewhere that it was the strongest / biggest single day rally in the USD for years.\r\n\r\nIt certainly shook the markets for those playing the EUR/USD (Head and Shoulders) / DXY (Inverted Head and Shoulders). Money flows at the moment are driving these huge moves. The NIKKEI had a 20% move higher in a couple of months. Fund managers are looking for value as we head into the year end, monies are moving to Europe away from Japan etc.… there is a lot going on and currencies are being used in huge volumes to facilitate a lot of these moves.\r\n\r\nOvernight last Thursday into Friday morning the PREMIUM SERVICE was blasted with over 750 pips of profit when my core short positions across the AUD and NZD drilled home pips across several trades.\r\n\r\nFor me last week was a two-day trading week… All that wasted time for the other days sitting in front of screens!!\r\n\r\nIt has been quite some time since I have written “RISK OFF” in my blog but we are sort of there as we are bouncing around in the US equity markets. It is a battle between the “BUY THE DIP” mentality and market bears. Is the most hated rally ever finally being sold? Not sure but a pullback of sorts, and its minimal in the grand scheme of things is happening.\r\n\r\nEnough of that…\r\n\r\nOver the past month or so I have been sampling my competition to the PREMIUM SERVICE.\r\n\r\nThere are so many chart analysts out there, but that is all they do. They look backwards and tell what patterns were formed and why, but there is very little out there who look forward and trade, in fact I doubt very many of them have skin in the market.\r\n\r\nI have looked across the spectrum; costly to cheap and well-known to unknown.\r\nI followed big names who have tens of thousands of followers on twitter, as well as specific trade set up providers and analysts from brokers. In total about 10 names/ businesses, here is a sample of what I came across. It’s not totally inclusive as some were just not worth the print!\r\n\r\n<strong><u>TV ANAYLST WITH OWN FX SUPPORT BUSINESS (UK BASED)</u></strong>: Is a regular guest on BNN, CNBC and BLOOMBERG, huge on Twitter. In my opinion, he is a gambler. He puts trades up a minute or two before high beta news events. It\'s a 50-50 guess. You hear about the good ones on Twitter and the failures disappear. The service covers all markets, I am just Forex, so a lot of what I received was great for correlations but nothing revolutionary.  I made money but the cost was double what I charge. Lots of supporting information, not sure where its cut and pasted from. Response time to questions poor.\r\n\r\nIt was a high cost, I made money but the gambling trades are stupid in my opinion.\r\n\r\n<strong><u>TV ANAYLST WITH OWN FX SUPPORT BUSINESS (US BASED): </u></strong>Another, is so fast and impossible to follow on a webinar and the amount of assumptions made are incredible. This service provider is a regular on CNBC. All the trades lost money. Analysis is good but the implementation of trades a joke. It was all over the map for me, no discipline, no structure. The chat room was frankly dangerous, no management, inexperienced traders being exposed to all sorts of crap. Is it any wonder FX gets a bad name? I would close that down right now.\r\n\r\nThere are so many cost options, so much to take in, maybe something I did NOT buy worked but I doubt it. I am confused about the whole package options and I blame this service for my migraine during the week. Response time to questions excellent.\r\n\r\nCannot possibly trade LIVE trades. Very well-known must live off huge fee incomes from webinars, on-line books, algorithm sales (they don\'t work either) and TV appearance fees.\r\n\r\n<strong><u>BROKER ANALYST (UK BASED):</u></strong> This person from a large Broker, also on Business TV a fair bit, I respect as a chart analyst, but the LIVE trading is a fecking joke. He simply never trades. It’s all theory. No skin in the game.\r\n\r\n<strong><u>TRADES SERVICE PROVIDER (HONG KONG BASED):</u></strong><strong>  </strong>Four times more expensive than the PREMIUM SERVICE no supporting information for trades, poor response times and trades were all 10 or 15 pip scalps that would NOT cover the cost of the subscription unless you were trading 4/5 standard lots a time. Not my target audience and too high RISK for most people. I just about broke even. Not my cup of tea. Now they are SPAMMING me… Jesus, Mary and Joseph!!\r\n\r\n<strong><u>SUMMARY:</u></strong>\r\n\r\nI have faults, just ask my wife! Trading in the FX market I always have real skin in the market. I feel the trades. I trade without emotion (most times) because I manage RISK. I do not have hundreds of subscribers, no way near. I have a solid group of serious FX traders from around the globe and two syndicates through spokespeople that adds about 20 additional traders into the mix. I keep it simple and I try my best to provide a personal and prompt service. I, the PREMIUM SERVICE am looking for serious traders who want to trade, not have to trade, I hope that makes sense.\r\n\r\nTo do what I do, I can’t have more than 50 subscribers. There are still a few spaces left.\r\n\r\nI may chop ‘n change trades around to fit the market conditions, which can be difficult to follow with everyone being in different time zones, but that is trading. I trade to make $$$ not to lose $$$.\r\n\r\nI was up at 3.30AM on a couple of mornings last week playing with trades. That is the reality of trading in the FX market, its open from Sunday at 5PM EST and closes the following Friday at 5PM EST. I am NOT interested in “that trade was closed whilst I was asleep!” If you are a serious trader you have little sleep between Sunday and Friday each week.\r\n\r\nBack on track…\r\n\r\nAt the end of the day from my research, did I find anything I want to add to the PREMIUM SERVICE?\r\n\r\nThere are a couple of things I will introduce moving forward but overall, I feel good about the research I provide it is mostly brief and to the point. Those services that provide lots of commentary, I strongly suspect DO NOT TRADE. I struggle for hours as it is now and I consider myself damn good at time management.\r\n\r\nFinally,\r\n\r\nThere will be no blog next weekend, we have friends flying in from the UK. The opportunities to trade will be slim. Plus, zero time for completing research and finding the 10 hours or so required to complete the blog from start to finish will just not be there. So, it is a see you in two weeks after this week’s review.\r\n\r\n<strong> </strong>\r\n<ol start=\"2\">\r\n 	<li><strong></strong><strong> THE FX MARKET PLACE:</strong>&nbsp;</li>\r\n</ol>\r\n<u>LOOKING AHEAD THIS COMING WEEK:</u>\r\n\r\n<u>\r\nTHIS WEEK’S ECONOMIC DATA RELEASES:</u>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/11/ECON-DATA-19112017.png\"><img class=\"aligncenter size-large wp-image-10401\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/11/ECON-DATA-19112017-1024x884.png\" alt=\"\" width=\"1024\" height=\"884\" /></a>\r\n\r\n&nbsp;\r\n\r\n<u>USD MAJORS – SUPPORT &amp; RESISTANCE LEVELS with BIAS:</u>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/11/TCHART-19112017.png\"><img class=\"aligncenter size-full wp-image-10402\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/11/TCHART-19112017.png\" alt=\"\" width=\"1014\" height=\"898\" /></a>\r\n\r\n&nbsp;\r\n\r\n<u>USD – TRADING CHARTS: </u>\r\n\r\nMore often than not I will use DAILY CHARTS for my analysis.\r\n\r\n<strong>\r\n</strong>EUR/USD:\r\n\r\nOverall recent data from the EUROZONE has been good. We have seen a pullback from the recent 1.1860 highs. RSi (Relative Strength Indicator) is moving higher and given the better data, the bulls are trying to regain control once again. I think that we need to see a break higher above 1.1880 (BLACK LINE) for the bulls to be back in control.\r\n\r\nSupport is good circa. 1.1660 and on the chart below (PURPLE LINE) and more recently at 1.1750 (BURGUNDY LINE).\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/11/EURUSD-D-19112017.png\"><img class=\"aligncenter size-large wp-image-10414\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/11/EURUSD-D-19112017-1024x452.png\" alt=\"\" width=\"1024\" height=\"452\" /></a>\r\n\r\n&nbsp;\r\n\r\nGBP/USD:\r\n\r\nThe recent weakening USD has pulled cable higher. I am however always thinking that this pair is one news item away from a 100-pip fall and it could happen at any time.\r\n\r\nThe chart below shows a bullish set of candles, which completely goes against my FUNDAMENTAL views regarding this pair. Price was rejected very strongly at 1.3260 last Friday. That rejection stopped me out of GBP/NZD and GBP/AUD longs at the time… bugger.\r\n\r\nI think that we range trade with this pair between the two Fibonacci levels of 23.6% at 1.3170 and 38% at 1.3260.\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/11/GBPUSD-D-19112017.png\"><img class=\"aligncenter size-large wp-image-10415\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/11/GBPUSD-D-19112017-1024x452.png\" alt=\"\" width=\"1024\" height=\"452\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\nAUD/USD:\r\n\r\nThis pair is under pressure as you can clearly see from the chart below. We were held up at 61.8% Fibonacci level last Friday. The spike from this low will allow traders such as me through the PREMIUM SERVICE to re-load short trades this week. The bigger the spike the better… bring it on.\r\n\r\nWe are getting close to 30 level on the RSi therefore, a couple of re-set trading sessions would suit me fine!!\r\n\r\nThere are several potential trading patterns one can use on the pair, for now I am running with a channel set up as this pair seems to like channels.\r\n\r\nAs long as the RBA remains neutral I cannot see this pair moving higher in the near term.\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/11/AUDUSD-D-19112017.png\"><img class=\"aligncenter size-large wp-image-10413\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/11/AUDUSD-D-19112017-1024x452.png\" alt=\"\" width=\"1024\" height=\"452\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\nNZD/USD:\r\n\r\nWe are getting closer to a 30 reading on the RSi. We can of course drop below but I am hoping for a spike to allow me to re-load PREMIUM SERVICE short trades.\r\n\r\nThe political uncertainty in New Zealand is driving this pair lower and for the foreseeable future I see no change in this connection.\r\n\r\nPREMIUM SERVICE subscribers know what my target is to the downside with this pair, the candlestick pattern does look very bearish to me.\r\n\r\nBulls if there are any, will not be back in control of this pair unless we break back above 0.7000, which, seems an awfully long way away at the moment when one looks at current pricing.\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/11/NZDUSD-D-19112017.png\"><img class=\"aligncenter size-large wp-image-10416\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/11/NZDUSD-D-19112017-1024x452.png\" alt=\"\" width=\"1024\" height=\"452\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\nUSD/CAD:\r\n\r\nBugger…\r\n\r\nI really want this pair above 1.2900 to short. After last Friday’s in line inflation print, the pair spiked to the 61.8% Fibonacci level and then pulled back.\r\n\r\nThe upward sloping channel is basically still intact on the chart below, so I still have some hope for now. Who am I kidding? This pair is bound to about turn and break through the trend line support and leave me behind!!\r\n\r\nWe have Retail Sales data this week. Does this mean that I may have to wait another week for my short entry?\r\n\r\nBelow 1.2725 would make me have to re-think my PLAN.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/11/USDCAD-D-19112017.png\"><img class=\"aligncenter size-large wp-image-10417\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/11/USDCAD-D-19112017-1024x452.png\" alt=\"\" width=\"1024\" height=\"452\" /></a>\r\n\r\n&nbsp;\r\n\r\nUSD/CHF:\r\n\r\nAm I dreaming with the pennant / flag patterns on the cart below? It is rather an awkward shape. The measured moves play to 1.0460 (BURGUNDY) and 1.0175 (BLACK).\r\n\r\nI am struggling to know what to do with this pair. The PREMIUM SERVICE has a small long trade, which is out of the money at the moment. I am not sure what to do with this pair, but I do know that longer-term I want to be long.\r\n\r\nI am working on the fact we are in a range of 0.9840 to a.0040.\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/11/USDCHF-D-19112017.png\"><img class=\"aligncenter size-large wp-image-10418\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/11/USDCHF-D-19112017-1024x452.png\" alt=\"\" width=\"1024\" height=\"452\" /></a>\r\n\r\n&nbsp;\r\n\r\nUSD/JPY:\r\n\r\nBecause I am stupid I let 60 pips of profit disappear with this pair last Friday… argh!!\r\n\r\nRISK sentiment is ruling this pair at the moment as the NIKKEI sells off and uncertainty persists in Washington. Add into the mix treasury yields. Now ask me why did I give up my short so cheaply? Because I am stupid!!\r\n\r\nThis pair has 108.00 written all over it in my opinion. The 200 DAY SMA comes in around 111.80, which was original take profit level, but a break below here would NOT surprise me and a test of 110.00, the 61.8% Fibonacci level would seem reasonable to me for the shorter term.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/11/USDJPY-D-19112017.png\"><img class=\"aligncenter size-large wp-image-10419\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/11/USDJPY-D-19112017-1024x452.png\" alt=\"\" width=\"1024\" height=\"452\" /></a>\r\n\r\n&nbsp;\r\n\r\n<u>THOUGHTS ON THIS WEEK’S ECONOMIC DATA:</u>\r\n\r\nMost of the economic data releases this week are related to speeches by Central Bank leaders. Therefore, it is reactionary news, which of late I have not enjoyed much as it has been lacking conviction or momentum. The recent exceptions being the BOE Super Thursday and Draghi’s ECB Press Conference. There was certainly direction following these, but the rest… not my cup of tea.\r\n\r\nOf what remains, the following short list interests me: -\r\n\r\n<strong><u>AUD:</u></strong><u> MONETARY POLICY MEETING MINUTES</u>.\r\n\r\nThese minutes surely to God cannot be as much of a snooze fest as the original statement release. It passed basically without a flicker. Philip Lowe also speaks about 12 hours after the minutes are published.\r\n\r\nThe RBA are neutral. It will be interesting to see if any timescales on policy were discussed plus any inklings vis-a-vis housing prices in the Australian market.\r\n\r\n<strong><u>\r\nUSD:</u></strong><u> FOMC MEETING MINUTES.</u>\r\n\r\nIt’s not about this year, 2017 that has me including this item in this section, it is about future discussions into 2018. At the end of the day with a new FED chair moving in early next year, I am not expecting future policies to be changed or placed on hold. Central Banks are well oiled dinosaurs that move so slowly and like massive oil tankers when a change of policy is made in the sense that it takes oil tankers 5/6 miles to turnabout.\r\n\r\nRate hikes into 2018 is what will catch the eye in this release.\r\n\r\n&nbsp;\r\n\r\n<strong><u>CAD:</u></strong><u> CORE RETAIL SALES.</u>\r\n\r\nI am looking to short the USD/CAD and add to my CORE SHORT POSITION. Therefore, I want the poor data to continue to give me the best entry level possible. The closer to 1.3000 the better…. I am waiting.\r\n\r\nBeing realistic however, last month’s reading was a dismal negative 0.7%. I would be astonished if a negative print was repeated in the run up months to Christmas.\r\n\r\n&nbsp;\r\n\r\n<u>HOW TO PLAY THE MARKET THIS WEEK:</u>\r\n\r\nPersonally, I believe that we are in a consolidation period once again. Last week the USD was whacked and the commodity currencies were taken to the woodshed.\r\n\r\nThe majors and the cross rates in my opinion need to re-set. There were some massive moves over the past week. EUR/USD +800 pips, GBP/NZD about +600 pips or so and GBP/AUD about +500 pips.\r\n\r\nThe Monthly ATR (Average True Range) GBP/AUD is just under 1,000 pips so when you consider that 500 pips was the range last week, we need to consolidate the moves. Not that we have to consolidate with the cross-rate pairs, they are very volatile but you have to be aware of these facts into this week.\r\n\r\nWe are light on true economic data this week and therefore we will be at the will of the news wires… oh shit I can hear you saying.\r\n\r\nYes regretfully, it will be the Senate and the numbers of GOP senate members that will either vote yes or no on the TRUMP TAX REFUND. From what I can see it’s no longer tax reform, that is far too radical for dysfunctional politicians to stomach.\r\n\r\nBREXIT will feature as progress really needs to be established prior to the end of the year. We are soon into the season of lavish Christmas Parties in Brussels. The expense accounts will be out in full and the hospitality industry will move up from yellow to red alert as the cha ching of cash and need for extra credit card swipe machines intensifies.\r\n\r\nIf David Davis (UK Chief negotiator) doesn’t get some UK BREXIT positives on paper pre-Christmas, I can see a Tory party revolt and a new leader in place for early 2018. I write this and I am fully aware that no one with any grey matter in their heads would want the poison chalice of dealing with BREXIT, unless you do not mind shoving two fingers in the air to the EU and taking the no deal option…. enter Boris Johnson.\r\n\r\nI think therefore that trading USD majors especially the EUR/USD and USD/JPY will be very reactionary to US data and BREXIT will keep anything GBP tied up.\r\n\r\nTherefore, the commodity currencies should offer us option. The AUD and NZD currencies in particular are weak and trading very heavily. Whilst I believe we have to allow for resetting pullbacks to enter these currencies remain the best option for trading pairs with liquidity.\r\n\r\nThe NZD is especially under pressure politically and moves lower should continue as long as political uncertainties continue. The AUD is being pushed lower by the RBA. Hats off to Philip Lowe this is being done professionally and the move is to a large extent given what usually happens being conducted under the radar.\r\n\r\nI have already said we should wait for the commodity cross rates to reset so that leaves the smaller currencies and exotic pairs.\r\n\r\nI closed a number of trades last Friday pre-weekend on the failure of the AUD and NZD currencies. I still think that pairs like the AUD/JPY, NZD/JPY, AUD/NZD, NZD/CAD etc. are still viable until the market reset is completed.\r\n\r\n&nbsp;\r\n<ol start=\"3\">\r\n 	<li><strong> THE PREMIUM SERVICE:</strong></li>\r\n</ol>\r\nThe PREMIUM SERVICE is my own subscriber based Forex support service that offers subscribers my suggested trade set-ups and market commentaries.\r\n\r\nFull details of the PREMIUM SERVICE and costs to subscribe plus the various trade styles and how suggested trade set-ups are communicated can be found on my website landing page at <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a> by selecting the HISTORY &amp; PERFORMANCE tab.\r\n\r\n<u>CURRENT 2017 PREMIUM SERVICE PERFORMANCE:</u>\r\n\r\nPIPS ADDED LAST WEEK:           = +1,276 pips\r\n\r\nPIPS MONTH TO DATE:                = +1,445 pips\r\n\r\nYEAR TO DATE:                              = +11,847 pips\r\nFurther information can be found by clicking TESTIMONIALS, PART-TIME TRADERS and FX PROMOTIONS tabs on my website  <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a>\r\nAlternatively, if you prefer to watch a video recording about the PREMIUM SERVICE, click the link below. You will be directed to a 40-minute webinar presentation entitled “AN INTRODUCTION TO THE PREMIUM SERVICE”.\r\n\r\n<a href=\"http://screencasts.weeklyfxdrivethru.com/watch/cb6fqiIAZX\">http://screencasts.weeklyfxdrivethru.com/watch/cb6fqiIAZX</a>\r\n\r\nTo subscribe to THE PREMIUM SERVICE, you will require a valid credit card.\r\n\r\n&nbsp;\r\n<ol start=\"4\">\r\n 	<li><strong> PREMIUM SERVICE SUBSCRIBERS ONLY:</strong></li>\r\n</ol>\r\n(Only SUBSCRIBERS to the PREMIUM SERVICE can view this section of the BLOG)\r\n\r\n<u>4:1. TRADING REVIEW:\r\n</u><u>\r\n</u><u>4:2. SENTIMENT CHART,</u><u> FUNDAMENTAL &amp; MACRO THOUGHTS</u><u>:\r\n</u>\r\n\r\n<u>4:3. TRADING PLANS:</u>\r\n\r\n<u>4:3.1. TRADING PLAN OVERVIEW THIS WEEK:</u>\r\n\r\n<u>4:3.2.  EXISTING CORE TRADES (PLANS &amp; STRATEGIES):</u>\r\n\r\n<u>4:4. CURRENT LIVE TRADES &amp; LIMIT ORDERS:</u>\r\n\r\n<u>4:5. FX BROKER NEWS with their MARKET FEEDBACK:</u>\r\n\r\n&nbsp;\r\n\r\n<strong> </strong>\r\n<ol start=\"5\">\r\n 	<li><strong> INTO THE CLOSE:</strong></li>\r\n</ol>\r\n<u>WANT A FREE PREMIUM SERVICE SUBSCRIPTION:</u>\r\n\r\nIf you like what you have read in this blog and would like the chance to win a FREE SUBSCRIPTION valued at CAD$150.00, all you need to do is subscribe to my FREE NEWSLETTER (this blog), by adding your email address on my welcome page just below my cube logo at <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a>\r\n\r\n<u>\r\nPREMIUM SERVICE SUBSCRIPTIONS:</u>\r\n\r\nIf you like what you’ve read in this blog and should you want to go a stage further and subscribe to the PREMIUM SERVICE, this can be done on my website <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a> under the Tab SUBSCRIBE HERE.\r\n\r\nSubscribing to the PREMIUM SERVICE is not just about receiving a larger “DRIVE THRU” blog packed with more trading supporting information, my thoughts and ideas. There is much more to a subscription than those things. Check it all out under the tab HISTORY &amp; PERFORMANCE on my website <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a>\r\n\r\nAlternatively, if you prefer to watch a video recording about the PREMIUM SERVICE, click the link below. You will be directed to a 40-minute webinar presentation entitled “AN INTRODUCTION TO THE PREMIUM SERVICE”.\r\n\r\n<a href=\"http://screencasts.weeklyfxdrivethru.com/watch/cb6fqiIAZX\">http://screencasts.weeklyfxdrivethru.com/watch/cb6fqiIAZX</a>\r\n\r\nTo subscribe to THE PREMIUM SERVICE, you will require a valid credit card.\r\n\r\n<u>\r\nCLOSING THOUGHTS:</u>\r\n\r\nNothing more to add here, I have said enough except,\r\n\r\nAs usual…\r\n\r\nAlways remember longevity in Forex trading can only be achieved through trading with good RISK and MONEY MANAGEMENT, and above all set your position sizes in accordance with the size of your account and allow for some flexibility.\r\n\r\nScott Pickering\r\nThe Pip Accumulator\r\nTwitter: @pipaccumulator\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/disclaimer/\">http://weeklyfxdrivethru.com/disclaimer/\r\n</a>\r\nBLOG VERSION: #FREE NEWSLETTER\r\n19th November 2017\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n&nbsp;', 'KIWI WILL REMAIN UNDER PRESSURE', '', 'publish', 'open', 'closed', '', 'kiwi-will-remain-pressure', '', '', '2017-11-18 06:23:10', '2017-11-18 11:23:10', '', 0, 'https://weeklyfxdrivethru.com/?p=10429', 0, 'post', '', 0),
(10431, 1, '2017-11-18 06:21:43', '2017-11-18 11:21:43', '<strong>\r\n</strong>\r\n<ol>\r\n 	<li><strong>INTRODUCTION:</strong></li>\r\n</ol>\r\nWelcome.\r\n\r\nThis week’s DRIVE THRU takes on a new format. I am not changing for changing sake, I am responding to comments. The main purpose of this blog is to formally communicate with my PREMIUM SERVICE subscribers, but it does have a dual purpose. The second purpose is to inform and hopefully attract serious FX traders to become new PREMIUM SERVICE subscribers. It is always a balance and for about 4 years now, I keep tweaking the content. I hope that you like this revision. Given my history in this regard it will NOT be the last.\r\n\r\nMoving on…\r\n\r\nLast week had it all; boredom, excitement, annoyance, frustration, surprise plus profits and losses and several shots of Jack Daniels… that was just Tuesday. I think I read somewhere that it was the strongest / biggest single day rally in the USD for years.\r\n\r\nIt certainly shook the markets for those playing the EUR/USD (Head and Shoulders) / DXY (Inverted Head and Shoulders). Money flows at the moment are driving these huge moves. The NIKKEI had a 20% move higher in a couple of months. Fund managers are looking for value as we head into the year end, monies are moving to Europe away from Japan etc.… there is a lot going on and currencies are being used in huge volumes to facilitate a lot of these moves.\r\n\r\nOvernight last Thursday into Friday morning the PREMIUM SERVICE was blasted with over 750 pips of profit when my core short positions across the AUD and NZD drilled home pips across several trades.\r\n\r\nFor me last week was a two-day trading week… All that wasted time for the other days sitting in front of screens!!\r\n\r\nIt has been quite some time since I have written “RISK OFF” in my blog but we are sort of there as we are bouncing around in the US equity markets. It is a battle between the “BUY THE DIP” mentality and market bears. Is the most hated rally ever finally being sold? Not sure but a pullback of sorts, and its minimal in the grand scheme of things is happening.\r\n\r\nEnough of that…\r\n\r\nOver the past month or so I have been sampling my competition to the PREMIUM SERVICE.\r\n\r\nThere are so many chart analysts out there, but that is all they do. They look backwards and tell what patterns were formed and why, but there is very little out there who look forward and trade, in fact I doubt very many of them have skin in the market.\r\n\r\nI have looked across the spectrum; costly to cheap and well-known to unknown.\r\nI followed big names who have tens of thousands of followers on twitter, as well as specific trade set up providers and analysts from brokers. In total about 10 names/ businesses, here is a sample of what I came across. It’s not totally inclusive as some were just not worth the print!\r\n\r\n<strong><u>TV ANAYLST WITH OWN FX SUPPORT BUSINESS (UK BASED)</u></strong>: Is a regular guest on BNN, CNBC and BLOOMBERG, huge on Twitter. In my opinion, he is a gambler. He puts trades up a minute or two before high beta news events. It\'s a 50-50 guess. You hear about the good ones on Twitter and the failures disappear. The service covers all markets, I am just Forex, so a lot of what I received was great for correlations but nothing revolutionary.  I made money but the cost was double what I charge. Lots of supporting information, not sure where its cut and pasted from. Response time to questions poor.\r\n\r\nIt was a high cost, I made money but the gambling trades are stupid in my opinion.\r\n\r\n<strong><u>TV ANAYLST WITH OWN FX SUPPORT BUSINESS (US BASED): </u></strong>Another, is so fast and impossible to follow on a webinar and the amount of assumptions made are incredible. This service provider is a regular on CNBC. All the trades lost money. Analysis is good but the implementation of trades a joke. It was all over the map for me, no discipline, no structure. The chat room was frankly dangerous, no management, inexperienced traders being exposed to all sorts of crap. Is it any wonder FX gets a bad name? I would close that down right now.\r\n\r\nThere are so many cost options, so much to take in, maybe something I did NOT buy worked but I doubt it. I am confused about the whole package options and I blame this service for my migraine during the week. Response time to questions excellent.\r\n\r\nCannot possibly trade LIVE trades. Very well-known must live off huge fee incomes from webinars, on-line books, algorithm sales (they don\'t work either) and TV appearance fees.\r\n\r\n<strong><u>BROKER ANALYST (UK BASED):</u></strong> This person from a large Broker, also on Business TV a fair bit, I respect as a chart analyst, but the LIVE trading is a fecking joke. He simply never trades. It’s all theory. No skin in the game.\r\n\r\n<strong><u>TRADES SERVICE PROVIDER (HONG KONG BASED):</u></strong><strong>  </strong>Four times more expensive than the PREMIUM SERVICE no supporting information for trades, poor response times and trades were all 10 or 15 pip scalps that would NOT cover the cost of the subscription unless you were trading 4/5 standard lots a time. Not my target audience and too high RISK for most people. I just about broke even. Not my cup of tea. Now they are SPAMMING me… Jesus, Mary and Joseph!!\r\n\r\n<strong><u>SUMMARY:\r\n\r\n</u></strong>I have faults, just ask my wife! Trading in the FX market I always have real skin in the market. I feel the trades. I trade without emotion (most times) because I manage RISK. I do not have hundreds of subscribers, no way near. I have a solid group of serious FX traders from around the globe and two syndicates through spokespeople that adds about 20 additional traders into the mix. I keep it simple and I try my best to provide a personal and prompt service. I, the PREMIUM SERVICE am looking for serious traders who want to trade, not have to trade, I hope that makes sense.\r\n\r\nTo do what I do, I can’t have more than 50 subscribers. There are still a few spaces left.\r\n\r\nI may chop ‘n change trades around to fit the market conditions, which can be difficult to follow with everyone being in different time zones, but that is trading. I trade to make $$$ not to lose $$$.\r\n\r\nI was up at 3.30AM on a couple of mornings last week playing with trades. That is the reality of trading in the FX market, its open from Sunday at 5PM EST and closes the following Friday at 5PM EST. I am NOT interested in “that trade was closed whilst I was asleep!” If you are a serious trader you have little sleep between Sunday and Friday each week.\r\n\r\nBack on track…\r\n\r\nAt the end of the day from my research, did I find anything I want to add to the PREMIUM SERVICE?\r\n\r\nThere are a couple of things I will introduce moving forward but overall, I feel good about the research I provide it is mostly brief and to the point. Those services that provide lots of commentary, I strongly suspect DO NOT TRADE. I struggle for hours as it is now and I consider myself damn good at time management.\r\n\r\nFinally,\r\n\r\nThere will be no blog next weekend, we have friends flying in from the UK. The opportunities to trade will be slim. Plus, zero time for completing research and finding the 10 hours or so required to complete the blog from start to finish will just not be there. So, it is a see you in two weeks after this week’s review.\r\n\r\n<strong> </strong>\r\n<ol start=\"2\">\r\n 	<li><strong> THE FX MARKET PLACE:\r\n\r\n</strong></li>\r\n</ol>\r\n<u>LOOKING AHEAD THIS COMING WEEK:</u>\r\n\r\n<u>\r\nTHIS WEEK’S ECONOMIC DATA RELEASES:</u>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/11/ECON-DATA-19112017.png\"><img class=\"aligncenter size-large wp-image-10401\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/11/ECON-DATA-19112017-1024x884.png\" alt=\"\" width=\"1024\" height=\"884\" /></a>\r\n\r\n&nbsp;\r\n\r\n<u>USD MAJORS – SUPPORT &amp; RESISTANCE LEVELS with BIAS:</u>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/11/TCHART-19112017.png\"><img class=\"aligncenter size-full wp-image-10402\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/11/TCHART-19112017.png\" alt=\"\" width=\"1014\" height=\"898\" /></a>\r\n\r\n&nbsp;\r\n\r\n<u>USD – TRADING CHARTS: </u>\r\n\r\nMore often than not I will use DAILY CHARTS for my analysis.\r\n\r\n<strong>\r\n</strong>EUR/USD:\r\n\r\nOverall recent data from the EUROZONE has been good. We have seen a pullback from the recent 1.1860 highs. RSi (Relative Strength Indicator) is moving higher and given the better data, the bulls are trying to regain control once again. I think that we need to see a break higher above 1.1880 (BLACK LINE) for the bulls to be back in control.\r\n\r\nSupport is good circa. 1.1660 and on the chart below (PURPLE LINE) and more recently at 1.1750 (BURGUNDY LINE).\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/11/EURUSD-D-19112017.png\"><img class=\"aligncenter size-large wp-image-10414\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/11/EURUSD-D-19112017-1024x452.png\" alt=\"\" width=\"1024\" height=\"452\" /></a>\r\n\r\n&nbsp;\r\n\r\nGBP/USD:\r\n\r\nThe recent weakening USD has pulled cable higher. I am however always thinking that this pair is one news item away from a 100-pip fall and it could happen at any time.\r\n\r\nThe chart below shows a bullish set of candles, which completely goes against my FUNDAMENTAL views regarding this pair. Price was rejected very strongly at 1.3260 last Friday. That rejection stopped me out of GBP/NZD and GBP/AUD longs at the time… bugger.\r\n\r\nI think that we range trade with this pair between the two Fibonacci levels of 23.6% at 1.3170 and 38% at 1.3260.\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/11/GBPUSD-D-19112017.png\"><img class=\"aligncenter size-large wp-image-10415\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/11/GBPUSD-D-19112017-1024x452.png\" alt=\"\" width=\"1024\" height=\"452\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\nAUD/USD:\r\n\r\nThis pair is under pressure as you can clearly see from the chart below. We were held up at 61.8% Fibonacci level last Friday. The spike from this low will allow traders such as me through the PREMIUM SERVICE to re-load short trades this week. The bigger the spike the better… bring it on.\r\n\r\nWe are getting close to 30 level on the RSi therefore, a couple of re-set trading sessions would suit me fine!!\r\n\r\nThere are several potential trading patterns one can use on the pair, for now I am running with a channel set up as this pair seems to like channels.\r\n\r\nAs long as the RBA remains neutral I cannot see this pair moving higher in the near term.\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/11/AUDUSD-D-19112017.png\"><img class=\"aligncenter size-large wp-image-10413\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/11/AUDUSD-D-19112017-1024x452.png\" alt=\"\" width=\"1024\" height=\"452\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\nNZD/USD:\r\n\r\nWe are getting closer to a 30 reading on the RSi. We can of course drop below but I am hoping for a spike to allow me to re-load PREMIUM SERVICE short trades.\r\n\r\nThe political uncertainty in New Zealand is driving this pair lower and for the foreseeable future I see no change in this connection.\r\n\r\nPREMIUM SERVICE subscribers know what my target is to the downside with this pair, the candlestick pattern does look very bearish to me.\r\n\r\nBulls if there are any, will not be back in control of this pair unless we break back above 0.7000, which, seems an awfully long way away at the moment when one looks at current pricing.\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/11/NZDUSD-D-19112017.png\"><img class=\"aligncenter size-large wp-image-10416\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/11/NZDUSD-D-19112017-1024x452.png\" alt=\"\" width=\"1024\" height=\"452\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\nUSD/CAD:\r\n\r\nBugger…\r\n\r\nI really want this pair above 1.2900 to short. After last Friday’s in line inflation print, the pair spiked to the 61.8% Fibonacci level and then pulled back.\r\n\r\nThe upward sloping channel is basically still intact on the chart below, so I still have some hope for now. Who am I kidding? This pair is bound to about turn and break through the trend line support and leave me behind!!\r\n\r\nWe have Retail Sales data this week. Does this mean that I may have to wait another week for my short entry?\r\n\r\nBelow 1.2725 would make me have to re-think my PLAN.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/11/USDCAD-D-19112017.png\"><img class=\"aligncenter size-large wp-image-10417\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/11/USDCAD-D-19112017-1024x452.png\" alt=\"\" width=\"1024\" height=\"452\" /></a>\r\n\r\n&nbsp;\r\n\r\nUSD/CHF:\r\n\r\nAm I dreaming with the pennant / flag patterns on the cart below? It is rather an awkward shape. The measured moves play to 1.0460 (BURGUNDY) and 1.0175 (BLACK).\r\n\r\nI am struggling to know what to do with this pair. The PREMIUM SERVICE has a small long trade, which is out of the money at the moment. I am not sure what to do with this pair, but I do know that longer-term I want to be long.\r\n\r\nI am working on the fact we are in a range of 0.9840 to a.0040.\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/11/USDCHF-D-19112017.png\"><img class=\"aligncenter size-large wp-image-10418\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/11/USDCHF-D-19112017-1024x452.png\" alt=\"\" width=\"1024\" height=\"452\" /></a>\r\n\r\n&nbsp;\r\n\r\nUSD/JPY:\r\n\r\nBecause I am stupid I let 60 pips of profit disappear with this pair last Friday… argh!!\r\n\r\nRISK sentiment is ruling this pair at the moment as the NIKKEI sells off and uncertainty persists in Washington. Add into the mix treasury yields. Now ask me why did I give up my short so cheaply? Because I am stupid!!\r\n\r\nThis pair has 108.00 written all over it in my opinion. The 200 DAY SMA comes in around 111.80, which was original take profit level, but a break below here would NOT surprise me and a test of 110.00, the 61.8% Fibonacci level would seem reasonable to me for the shorter term.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/11/USDJPY-D-19112017.png\"><img class=\"aligncenter size-large wp-image-10419\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/11/USDJPY-D-19112017-1024x452.png\" alt=\"\" width=\"1024\" height=\"452\" /></a>\r\n\r\n&nbsp;\r\n\r\n<u>THOUGHTS ON THIS WEEK’S ECONOMIC DATA:</u>\r\n\r\nMost of the economic data releases this week are related to speeches by Central Bank leaders. Therefore, it is reactionary news, which of late I have not enjoyed much as it has been lacking conviction or momentum. The recent exceptions being the BOE Super Thursday and Draghi’s ECB Press Conference. There was certainly direction following these, but the rest… not my cup of tea.\r\n\r\nOf what remains, the following short list interests me: -\r\n\r\n<strong><u>AUD:</u></strong><u> MONETARY POLICY MEETING MINUTES</u>.\r\n\r\nThese minutes surely to God cannot be as much of a snooze fest as the original statement release. It passed basically without a flicker. Philip Lowe also speaks about 12 hours after the minutes are published.\r\n\r\nThe RBA are neutral. It will be interesting to see if any timescales on policy were discussed plus any inklings vis-a-vis housing prices in the Australian market.\r\n\r\n<strong><u>\r\nUSD:</u></strong><u> FOMC MEETING MINUTES.</u>\r\n\r\nIt’s not about this year, 2017 that has me including this item in this section, it is about future discussions into 2018. At the end of the day with a new FED chair moving in early next year, I am not expecting future policies to be changed or placed on hold. Central Banks are well oiled dinosaurs that move so slowly and like massive oil tankers when a change of policy is made in the sense that it takes oil tankers 5/6 miles to turnabout.\r\n\r\nRate hikes into 2018 is what will catch the eye in this release.\r\n\r\n&nbsp;\r\n\r\n<strong><u>CAD:</u></strong><u> CORE RETAIL SALES.</u>\r\n\r\nI am looking to short the USD/CAD and add to my CORE SHORT POSITION. Therefore, I want the poor data to continue to give me the best entry level possible. The closer to 1.3000 the better…. I am waiting.\r\n\r\nBeing realistic however, last month’s reading was a dismal negative 0.7%. I would be astonished if a negative print was repeated in the run up months to Christmas.\r\n\r\n&nbsp;\r\n\r\n<u>HOW TO PLAY THE MARKET THIS WEEK:</u>\r\n\r\nPersonally, I believe that we are in a consolidation period once again. Last week the USD was whacked and the commodity currencies were taken to the woodshed.\r\n\r\nThe majors and the cross rates in my opinion need to re-set. There were some massive moves over the past week. EUR/USD +800 pips, GBP/NZD about +600 pips or so and GBP/AUD about +500 pips.\r\n\r\nThe Monthly ATR (Average True Range) GBP/AUD is just under 1,000 pips so when you consider that 500 pips was the range last week, we need to consolidate the moves. Not that we have to consolidate with the cross-rate pairs, they are very volatile but you have to be aware of these facts into this week.\r\n\r\nWe are light on true economic data this week and therefore we will be at the will of the news wires… oh shit I can hear you saying.\r\n\r\nYes regretfully, it will be the Senate and the numbers of GOP senate members that will either vote yes or no on the TRUMP TAX REFUND. From what I can see it’s no longer tax reform, that is far too radical for dysfunctional politicians to stomach.\r\n\r\nBREXIT will feature as progress really needs to be established prior to the end of the year. We are soon into the season of lavish Christmas Parties in Brussels. The expense accounts will be out in full and the hospitality industry will move up from yellow to red alert as the cha ching of cash and need for extra credit card swipe machines intensifies.\r\n\r\nIf David Davis (UK Chief negotiator) doesn’t get some UK BREXIT positives on paper pre-Christmas, I can see a Tory party revolt and a new leader in place for early 2018. I write this and I am fully aware that no one with any grey matter in their heads would want the poison chalice of dealing with BREXIT, unless you do not mind shoving two fingers in the air to the EU and taking the no deal option…. enter Boris Johnson.\r\n\r\nI think therefore that trading USD majors especially the EUR/USD and USD/JPY will be very reactionary to US data and BREXIT will keep anything GBP tied up.\r\n\r\nTherefore, the commodity currencies should offer us option. The AUD and NZD currencies in particular are weak and trading very heavily. Whilst I believe we have to allow for resetting pullbacks to enter these currencies remain the best option for trading pairs with liquidity.\r\n\r\nThe NZD is especially under pressure politically and moves lower should continue as long as political uncertainties continue. The AUD is being pushed lower by the RBA. Hats off to Philip Lowe this is being done professionally and the move is to a large extent given what usually happens being conducted under the radar.\r\n\r\nI have already said we should wait for the commodity cross rates to reset so that leaves the smaller currencies and exotic pairs.\r\n\r\nI closed a number of trades last Friday pre-weekend on the failure of the AUD and NZD currencies. I still think that pairs like the AUD/JPY, NZD/JPY, AUD/NZD, NZD/CAD etc. are still viable until the market reset is completed.\r\n\r\n&nbsp;\r\n<ol start=\"3\">\r\n 	<li><strong> THE PREMIUM SERVICE:</strong></li>\r\n</ol>\r\nThe PREMIUM SERVICE is my own subscriber based Forex support service that offers subscribers my suggested trade set-ups and market commentaries.\r\n\r\nFull details of the PREMIUM SERVICE and costs to subscribe plus the various trade styles and how suggested trade set-ups are communicated can be found on my website landing page at <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a> by selecting the HISTORY &amp; PERFORMANCE tab.\r\n\r\n<u>CURRENT 2017 PREMIUM SERVICE PERFORMANCE:\r\n\r\n</u> PIPS ADDED LAST WEEK:           = +1,276 pips\r\n\r\nPIPS MONTH TO DATE:                = +1,445 pips\r\n\r\nYEAR TO DATE:                              = +11,847 pips\r\nFurther information can be found by clicking TESTIMONIALS, PART-TIME TRADERS and FX PROMOTIONS tabs on my website  <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a>\r\nAlternatively, if you prefer to watch a video recording about the PREMIUM SERVICE, click the link below. You will be directed to a 40-minute webinar presentation entitled “AN INTRODUCTION TO THE PREMIUM SERVICE”.\r\n\r\n<a href=\"http://screencasts.weeklyfxdrivethru.com/watch/cb6fqiIAZX\">http://screencasts.weeklyfxdrivethru.com/watch/cb6fqiIAZX</a>\r\n\r\nTo subscribe to THE PREMIUM SERVICE, you will require a valid credit card.\r\n\r\n&nbsp;\r\n<ol start=\"4\">\r\n 	<li><strong> PREMIUM SERVICE SUBSCRIBERS ONLY:</strong></li>\r\n</ol>\r\n(Only SUBSCRIBERS to the PREMIUM SERVICE can view this section of the BLOG)\r\n\r\n<u>4:1. TRADING REVIEW:\r\n</u><u>\r\n</u><u>4:2. SENTIMENT CHART,</u><u> FUNDAMENTAL &amp; MACRO THOUGHTS</u><u>:\r\n</u>\r\n\r\n<u>4:3. TRADING PLANS:</u>\r\n\r\n<u>4:3.1. TRADING PLAN OVERVIEW THIS WEEK:</u>\r\n\r\n<u>4:3.2.  EXISTING CORE TRADES (PLANS &amp; STRATEGIES):</u>\r\n\r\n<u>4:4. CURRENT LIVE TRADES &amp; LIMIT ORDERS:</u>\r\n\r\n<u>4:5. FX BROKER NEWS with their MARKET FEEDBACK:</u>\r\n\r\n&nbsp;\r\n\r\n<strong> </strong>\r\n<ol start=\"5\">\r\n 	<li><strong> INTO THE CLOSE:</strong></li>\r\n</ol>\r\n<u>WANT A FREE PREMIUM SERVICE SUBSCRIPTION:</u>\r\n\r\nIf you like what you have read in this blog and would like the chance to win a FREE SUBSCRIPTION valued at CAD$150.00, all you need to do is subscribe to my FREE NEWSLETTER (this blog), by adding your email address on my welcome page just below my cube logo at <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a>\r\n\r\n<u>\r\nPREMIUM SERVICE SUBSCRIPTIONS:</u>\r\n\r\nIf you like what you’ve read in this blog and should you want to go a stage further and subscribe to the PREMIUM SERVICE, this can be done on my website <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a> under the Tab SUBSCRIBE HERE.\r\n\r\nSubscribing to the PREMIUM SERVICE is not just about receiving a larger “DRIVE THRU” blog packed with more trading supporting information, my thoughts and ideas. There is much more to a subscription than those things. Check it all out under the tab HISTORY &amp; PERFORMANCE on my website <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a>\r\n\r\nAlternatively, if you prefer to watch a video recording about the PREMIUM SERVICE, click the link below. You will be directed to a 40-minute webinar presentation entitled “AN INTRODUCTION TO THE PREMIUM SERVICE”.\r\n\r\n<a href=\"http://screencasts.weeklyfxdrivethru.com/watch/cb6fqiIAZX\">http://screencasts.weeklyfxdrivethru.com/watch/cb6fqiIAZX</a>\r\n\r\nTo subscribe to THE PREMIUM SERVICE, you will require a valid credit card.\r\n\r\n<u>\r\nCLOSING THOUGHTS:</u>\r\n\r\nNothing more to add here, I have said enough except,\r\n\r\nAs usual…\r\n\r\nAlways remember longevity in Forex trading can only be achieved through trading with good RISK and MONEY MANAGEMENT, and above all set your position sizes in accordance with the size of your account and allow for some flexibility.\r\n\r\nScott Pickering\r\nThe Pip Accumulator\r\nTwitter: @pipaccumulator\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/disclaimer/\">http://weeklyfxdrivethru.com/disclaimer/\r\n</a>\r\nBLOG VERSION: #FREE NEWSLETTER\r\n19th November 2017\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n&nbsp;', 'KIWI WILL REMAIN UNDER PRESSURE', '', 'inherit', 'closed', 'closed', '', '10429-revision-v1', '', '', '2017-11-18 06:21:43', '2017-11-18 11:21:43', '', 10429, 'https://weeklyfxdrivethru.com/10429-revision-v1/', 0, 'revision', '', 0);
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(10432, 1, '2017-11-18 06:23:10', '2017-11-18 11:23:10', '<strong>\r\n</strong>\r\n<ol>\r\n 	<li><strong>INTRODUCTION:</strong></li>\r\n</ol>\r\nWelcome.\r\n\r\nThis week’s DRIVE THRU takes on a new format. I am not changing for changing sake, I am responding to comments. The main purpose of this blog is to formally communicate with my PREMIUM SERVICE subscribers, but it does have a dual purpose. The second purpose is to inform and hopefully attract serious FX traders to become new PREMIUM SERVICE subscribers. It is always a balance and for about 4 years now, I keep tweaking the content. I hope that you like this revision. Given my history in this regard it will NOT be the last.\r\n\r\nMoving on…\r\n\r\nLast week had it all; boredom, excitement, annoyance, frustration, surprise plus profits and losses and several shots of Jack Daniels… that was just Tuesday. I think I read somewhere that it was the strongest / biggest single day rally in the USD for years.\r\n\r\nIt certainly shook the markets for those playing the EUR/USD (Head and Shoulders) / DXY (Inverted Head and Shoulders). Money flows at the moment are driving these huge moves. The NIKKEI had a 20% move higher in a couple of months. Fund managers are looking for value as we head into the year end, monies are moving to Europe away from Japan etc.… there is a lot going on and currencies are being used in huge volumes to facilitate a lot of these moves.\r\n\r\nOvernight last Thursday into Friday morning the PREMIUM SERVICE was blasted with over 750 pips of profit when my core short positions across the AUD and NZD drilled home pips across several trades.\r\n\r\nFor me last week was a two-day trading week… All that wasted time for the other days sitting in front of screens!!\r\n\r\nIt has been quite some time since I have written “RISK OFF” in my blog but we are sort of there as we are bouncing around in the US equity markets. It is a battle between the “BUY THE DIP” mentality and market bears. Is the most hated rally ever finally being sold? Not sure but a pullback of sorts, and its minimal in the grand scheme of things is happening.\r\n\r\nEnough of that…\r\n\r\nOver the past month or so I have been sampling my competition to the PREMIUM SERVICE.\r\n\r\nThere are so many chart analysts out there, but that is all they do. They look backwards and tell what patterns were formed and why, but there is very little out there who look forward and trade, in fact I doubt very many of them have skin in the market.\r\n\r\nI have looked across the spectrum; costly to cheap and well-known to unknown.\r\nI followed big names who have tens of thousands of followers on twitter, as well as specific trade set up providers and analysts from brokers. In total about 10 names/ businesses, here is a sample of what I came across. It’s not totally inclusive as some were just not worth the print!\r\n\r\n<strong><u>TV ANAYLST WITH OWN FX SUPPORT BUSINESS (UK BASED)</u></strong>: Is a regular guest on BNN, CNBC and BLOOMBERG, huge on Twitter. In my opinion, he is a gambler. He puts trades up a minute or two before high beta news events. It\'s a 50-50 guess. You hear about the good ones on Twitter and the failures disappear. The service covers all markets, I am just Forex, so a lot of what I received was great for correlations but nothing revolutionary.  I made money but the cost was double what I charge. Lots of supporting information, not sure where its cut and pasted from. Response time to questions poor.\r\n\r\nIt was a high cost, I made money but the gambling trades are stupid in my opinion.\r\n\r\n<strong><u>TV ANAYLST WITH OWN FX SUPPORT BUSINESS (US BASED): </u></strong>Another, is so fast and impossible to follow on a webinar and the amount of assumptions made are incredible. This service provider is a regular on CNBC. All the trades lost money. Analysis is good but the implementation of trades a joke. It was all over the map for me, no discipline, no structure. The chat room was frankly dangerous, no management, inexperienced traders being exposed to all sorts of crap. Is it any wonder FX gets a bad name? I would close that down right now.\r\n\r\nThere are so many cost options, so much to take in, maybe something I did NOT buy worked but I doubt it. I am confused about the whole package options and I blame this service for my migraine during the week. Response time to questions excellent.\r\n\r\nCannot possibly trade LIVE trades. Very well-known must live off huge fee incomes from webinars, on-line books, algorithm sales (they don\'t work either) and TV appearance fees.\r\n\r\n<strong><u>BROKER ANALYST (UK BASED):</u></strong> This person from a large Broker, also on Business TV a fair bit, I respect as a chart analyst, but the LIVE trading is a fecking joke. He simply never trades. It’s all theory. No skin in the game.\r\n\r\n<strong><u>TRADES SERVICE PROVIDER (HONG KONG BASED):</u></strong><strong>  </strong>Four times more expensive than the PREMIUM SERVICE no supporting information for trades, poor response times and trades were all 10 or 15 pip scalps that would NOT cover the cost of the subscription unless you were trading 4/5 standard lots a time. Not my target audience and too high RISK for most people. I just about broke even. Not my cup of tea. Now they are SPAMMING me… Jesus, Mary and Joseph!!\r\n\r\n<strong><u>SUMMARY:</u></strong>\r\n\r\nI have faults, just ask my wife! Trading in the FX market I always have real skin in the market. I feel the trades. I trade without emotion (most times) because I manage RISK. I do not have hundreds of subscribers, no way near. I have a solid group of serious FX traders from around the globe and two syndicates through spokespeople that adds about 20 additional traders into the mix. I keep it simple and I try my best to provide a personal and prompt service. I, the PREMIUM SERVICE am looking for serious traders who want to trade, not have to trade, I hope that makes sense.\r\n\r\nTo do what I do, I can’t have more than 50 subscribers. There are still a few spaces left.\r\n\r\nI may chop ‘n change trades around to fit the market conditions, which can be difficult to follow with everyone being in different time zones, but that is trading. I trade to make $$$ not to lose $$$.\r\n\r\nI was up at 3.30AM on a couple of mornings last week playing with trades. That is the reality of trading in the FX market, its open from Sunday at 5PM EST and closes the following Friday at 5PM EST. I am NOT interested in “that trade was closed whilst I was asleep!” If you are a serious trader you have little sleep between Sunday and Friday each week.\r\n\r\nBack on track…\r\n\r\nAt the end of the day from my research, did I find anything I want to add to the PREMIUM SERVICE?\r\n\r\nThere are a couple of things I will introduce moving forward but overall, I feel good about the research I provide it is mostly brief and to the point. Those services that provide lots of commentary, I strongly suspect DO NOT TRADE. I struggle for hours as it is now and I consider myself damn good at time management.\r\n\r\nFinally,\r\n\r\nThere will be no blog next weekend, we have friends flying in from the UK. The opportunities to trade will be slim. Plus, zero time for completing research and finding the 10 hours or so required to complete the blog from start to finish will just not be there. So, it is a see you in two weeks after this week’s review.\r\n\r\n<strong> </strong>\r\n<ol start=\"2\">\r\n 	<li><strong></strong><strong> THE FX MARKET PLACE:</strong>&nbsp;</li>\r\n</ol>\r\n<u>LOOKING AHEAD THIS COMING WEEK:</u>\r\n\r\n<u>\r\nTHIS WEEK’S ECONOMIC DATA RELEASES:</u>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/11/ECON-DATA-19112017.png\"><img class=\"aligncenter size-large wp-image-10401\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/11/ECON-DATA-19112017-1024x884.png\" alt=\"\" width=\"1024\" height=\"884\" /></a>\r\n\r\n&nbsp;\r\n\r\n<u>USD MAJORS – SUPPORT &amp; RESISTANCE LEVELS with BIAS:</u>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/11/TCHART-19112017.png\"><img class=\"aligncenter size-full wp-image-10402\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/11/TCHART-19112017.png\" alt=\"\" width=\"1014\" height=\"898\" /></a>\r\n\r\n&nbsp;\r\n\r\n<u>USD – TRADING CHARTS: </u>\r\n\r\nMore often than not I will use DAILY CHARTS for my analysis.\r\n\r\n<strong>\r\n</strong>EUR/USD:\r\n\r\nOverall recent data from the EUROZONE has been good. We have seen a pullback from the recent 1.1860 highs. RSi (Relative Strength Indicator) is moving higher and given the better data, the bulls are trying to regain control once again. I think that we need to see a break higher above 1.1880 (BLACK LINE) for the bulls to be back in control.\r\n\r\nSupport is good circa. 1.1660 and on the chart below (PURPLE LINE) and more recently at 1.1750 (BURGUNDY LINE).\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/11/EURUSD-D-19112017.png\"><img class=\"aligncenter size-large wp-image-10414\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/11/EURUSD-D-19112017-1024x452.png\" alt=\"\" width=\"1024\" height=\"452\" /></a>\r\n\r\n&nbsp;\r\n\r\nGBP/USD:\r\n\r\nThe recent weakening USD has pulled cable higher. I am however always thinking that this pair is one news item away from a 100-pip fall and it could happen at any time.\r\n\r\nThe chart below shows a bullish set of candles, which completely goes against my FUNDAMENTAL views regarding this pair. Price was rejected very strongly at 1.3260 last Friday. That rejection stopped me out of GBP/NZD and GBP/AUD longs at the time… bugger.\r\n\r\nI think that we range trade with this pair between the two Fibonacci levels of 23.6% at 1.3170 and 38% at 1.3260.\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/11/GBPUSD-D-19112017.png\"><img class=\"aligncenter size-large wp-image-10415\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/11/GBPUSD-D-19112017-1024x452.png\" alt=\"\" width=\"1024\" height=\"452\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\nAUD/USD:\r\n\r\nThis pair is under pressure as you can clearly see from the chart below. We were held up at 61.8% Fibonacci level last Friday. The spike from this low will allow traders such as me through the PREMIUM SERVICE to re-load short trades this week. The bigger the spike the better… bring it on.\r\n\r\nWe are getting close to 30 level on the RSi therefore, a couple of re-set trading sessions would suit me fine!!\r\n\r\nThere are several potential trading patterns one can use on the pair, for now I am running with a channel set up as this pair seems to like channels.\r\n\r\nAs long as the RBA remains neutral I cannot see this pair moving higher in the near term.\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/11/AUDUSD-D-19112017.png\"><img class=\"aligncenter size-large wp-image-10413\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/11/AUDUSD-D-19112017-1024x452.png\" alt=\"\" width=\"1024\" height=\"452\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\nNZD/USD:\r\n\r\nWe are getting closer to a 30 reading on the RSi. We can of course drop below but I am hoping for a spike to allow me to re-load PREMIUM SERVICE short trades.\r\n\r\nThe political uncertainty in New Zealand is driving this pair lower and for the foreseeable future I see no change in this connection.\r\n\r\nPREMIUM SERVICE subscribers know what my target is to the downside with this pair, the candlestick pattern does look very bearish to me.\r\n\r\nBulls if there are any, will not be back in control of this pair unless we break back above 0.7000, which, seems an awfully long way away at the moment when one looks at current pricing.\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/11/NZDUSD-D-19112017.png\"><img class=\"aligncenter size-large wp-image-10416\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/11/NZDUSD-D-19112017-1024x452.png\" alt=\"\" width=\"1024\" height=\"452\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\nUSD/CAD:\r\n\r\nBugger…\r\n\r\nI really want this pair above 1.2900 to short. After last Friday’s in line inflation print, the pair spiked to the 61.8% Fibonacci level and then pulled back.\r\n\r\nThe upward sloping channel is basically still intact on the chart below, so I still have some hope for now. Who am I kidding? This pair is bound to about turn and break through the trend line support and leave me behind!!\r\n\r\nWe have Retail Sales data this week. Does this mean that I may have to wait another week for my short entry?\r\n\r\nBelow 1.2725 would make me have to re-think my PLAN.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/11/USDCAD-D-19112017.png\"><img class=\"aligncenter size-large wp-image-10417\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/11/USDCAD-D-19112017-1024x452.png\" alt=\"\" width=\"1024\" height=\"452\" /></a>\r\n\r\n&nbsp;\r\n\r\nUSD/CHF:\r\n\r\nAm I dreaming with the pennant / flag patterns on the cart below? It is rather an awkward shape. The measured moves play to 1.0460 (BURGUNDY) and 1.0175 (BLACK).\r\n\r\nI am struggling to know what to do with this pair. The PREMIUM SERVICE has a small long trade, which is out of the money at the moment. I am not sure what to do with this pair, but I do know that longer-term I want to be long.\r\n\r\nI am working on the fact we are in a range of 0.9840 to a.0040.\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/11/USDCHF-D-19112017.png\"><img class=\"aligncenter size-large wp-image-10418\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/11/USDCHF-D-19112017-1024x452.png\" alt=\"\" width=\"1024\" height=\"452\" /></a>\r\n\r\n&nbsp;\r\n\r\nUSD/JPY:\r\n\r\nBecause I am stupid I let 60 pips of profit disappear with this pair last Friday… argh!!\r\n\r\nRISK sentiment is ruling this pair at the moment as the NIKKEI sells off and uncertainty persists in Washington. Add into the mix treasury yields. Now ask me why did I give up my short so cheaply? Because I am stupid!!\r\n\r\nThis pair has 108.00 written all over it in my opinion. The 200 DAY SMA comes in around 111.80, which was original take profit level, but a break below here would NOT surprise me and a test of 110.00, the 61.8% Fibonacci level would seem reasonable to me for the shorter term.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/11/USDJPY-D-19112017.png\"><img class=\"aligncenter size-large wp-image-10419\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/11/USDJPY-D-19112017-1024x452.png\" alt=\"\" width=\"1024\" height=\"452\" /></a>\r\n\r\n&nbsp;\r\n\r\n<u>THOUGHTS ON THIS WEEK’S ECONOMIC DATA:</u>\r\n\r\nMost of the economic data releases this week are related to speeches by Central Bank leaders. Therefore, it is reactionary news, which of late I have not enjoyed much as it has been lacking conviction or momentum. The recent exceptions being the BOE Super Thursday and Draghi’s ECB Press Conference. There was certainly direction following these, but the rest… not my cup of tea.\r\n\r\nOf what remains, the following short list interests me: -\r\n\r\n<strong><u>AUD:</u></strong><u> MONETARY POLICY MEETING MINUTES</u>.\r\n\r\nThese minutes surely to God cannot be as much of a snooze fest as the original statement release. It passed basically without a flicker. Philip Lowe also speaks about 12 hours after the minutes are published.\r\n\r\nThe RBA are neutral. It will be interesting to see if any timescales on policy were discussed plus any inklings vis-a-vis housing prices in the Australian market.\r\n\r\n<strong><u>\r\nUSD:</u></strong><u> FOMC MEETING MINUTES.</u>\r\n\r\nIt’s not about this year, 2017 that has me including this item in this section, it is about future discussions into 2018. At the end of the day with a new FED chair moving in early next year, I am not expecting future policies to be changed or placed on hold. Central Banks are well oiled dinosaurs that move so slowly and like massive oil tankers when a change of policy is made in the sense that it takes oil tankers 5/6 miles to turnabout.\r\n\r\nRate hikes into 2018 is what will catch the eye in this release.\r\n\r\n&nbsp;\r\n\r\n<strong><u>CAD:</u></strong><u> CORE RETAIL SALES.</u>\r\n\r\nI am looking to short the USD/CAD and add to my CORE SHORT POSITION. Therefore, I want the poor data to continue to give me the best entry level possible. The closer to 1.3000 the better…. I am waiting.\r\n\r\nBeing realistic however, last month’s reading was a dismal negative 0.7%. I would be astonished if a negative print was repeated in the run up months to Christmas.\r\n\r\n&nbsp;\r\n\r\n<u>HOW TO PLAY THE MARKET THIS WEEK:</u>\r\n\r\nPersonally, I believe that we are in a consolidation period once again. Last week the USD was whacked and the commodity currencies were taken to the woodshed.\r\n\r\nThe majors and the cross rates in my opinion need to re-set. There were some massive moves over the past week. EUR/USD +800 pips, GBP/NZD about +600 pips or so and GBP/AUD about +500 pips.\r\n\r\nThe Monthly ATR (Average True Range) GBP/AUD is just under 1,000 pips so when you consider that 500 pips was the range last week, we need to consolidate the moves. Not that we have to consolidate with the cross-rate pairs, they are very volatile but you have to be aware of these facts into this week.\r\n\r\nWe are light on true economic data this week and therefore we will be at the will of the news wires… oh shit I can hear you saying.\r\n\r\nYes regretfully, it will be the Senate and the numbers of GOP senate members that will either vote yes or no on the TRUMP TAX REFUND. From what I can see it’s no longer tax reform, that is far too radical for dysfunctional politicians to stomach.\r\n\r\nBREXIT will feature as progress really needs to be established prior to the end of the year. We are soon into the season of lavish Christmas Parties in Brussels. The expense accounts will be out in full and the hospitality industry will move up from yellow to red alert as the cha ching of cash and need for extra credit card swipe machines intensifies.\r\n\r\nIf David Davis (UK Chief negotiator) doesn’t get some UK BREXIT positives on paper pre-Christmas, I can see a Tory party revolt and a new leader in place for early 2018. I write this and I am fully aware that no one with any grey matter in their heads would want the poison chalice of dealing with BREXIT, unless you do not mind shoving two fingers in the air to the EU and taking the no deal option…. enter Boris Johnson.\r\n\r\nI think therefore that trading USD majors especially the EUR/USD and USD/JPY will be very reactionary to US data and BREXIT will keep anything GBP tied up.\r\n\r\nTherefore, the commodity currencies should offer us option. The AUD and NZD currencies in particular are weak and trading very heavily. Whilst I believe we have to allow for resetting pullbacks to enter these currencies remain the best option for trading pairs with liquidity.\r\n\r\nThe NZD is especially under pressure politically and moves lower should continue as long as political uncertainties continue. The AUD is being pushed lower by the RBA. Hats off to Philip Lowe this is being done professionally and the move is to a large extent given what usually happens being conducted under the radar.\r\n\r\nI have already said we should wait for the commodity cross rates to reset so that leaves the smaller currencies and exotic pairs.\r\n\r\nI closed a number of trades last Friday pre-weekend on the failure of the AUD and NZD currencies. I still think that pairs like the AUD/JPY, NZD/JPY, AUD/NZD, NZD/CAD etc. are still viable until the market reset is completed.\r\n\r\n&nbsp;\r\n<ol start=\"3\">\r\n 	<li><strong> THE PREMIUM SERVICE:</strong></li>\r\n</ol>\r\nThe PREMIUM SERVICE is my own subscriber based Forex support service that offers subscribers my suggested trade set-ups and market commentaries.\r\n\r\nFull details of the PREMIUM SERVICE and costs to subscribe plus the various trade styles and how suggested trade set-ups are communicated can be found on my website landing page at <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a> by selecting the HISTORY &amp; PERFORMANCE tab.\r\n\r\n<u>CURRENT 2017 PREMIUM SERVICE PERFORMANCE:</u>\r\n\r\nPIPS ADDED LAST WEEK:           = +1,276 pips\r\n\r\nPIPS MONTH TO DATE:                = +1,445 pips\r\n\r\nYEAR TO DATE:                              = +11,847 pips\r\nFurther information can be found by clicking TESTIMONIALS, PART-TIME TRADERS and FX PROMOTIONS tabs on my website  <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a>\r\nAlternatively, if you prefer to watch a video recording about the PREMIUM SERVICE, click the link below. You will be directed to a 40-minute webinar presentation entitled “AN INTRODUCTION TO THE PREMIUM SERVICE”.\r\n\r\n<a href=\"http://screencasts.weeklyfxdrivethru.com/watch/cb6fqiIAZX\">http://screencasts.weeklyfxdrivethru.com/watch/cb6fqiIAZX</a>\r\n\r\nTo subscribe to THE PREMIUM SERVICE, you will require a valid credit card.\r\n\r\n&nbsp;\r\n<ol start=\"4\">\r\n 	<li><strong> PREMIUM SERVICE SUBSCRIBERS ONLY:</strong></li>\r\n</ol>\r\n(Only SUBSCRIBERS to the PREMIUM SERVICE can view this section of the BLOG)\r\n\r\n<u>4:1. TRADING REVIEW:\r\n</u><u>\r\n</u><u>4:2. SENTIMENT CHART,</u><u> FUNDAMENTAL &amp; MACRO THOUGHTS</u><u>:\r\n</u>\r\n\r\n<u>4:3. TRADING PLANS:</u>\r\n\r\n<u>4:3.1. TRADING PLAN OVERVIEW THIS WEEK:</u>\r\n\r\n<u>4:3.2.  EXISTING CORE TRADES (PLANS &amp; STRATEGIES):</u>\r\n\r\n<u>4:4. CURRENT LIVE TRADES &amp; LIMIT ORDERS:</u>\r\n\r\n<u>4:5. FX BROKER NEWS with their MARKET FEEDBACK:</u>\r\n\r\n&nbsp;\r\n\r\n<strong> </strong>\r\n<ol start=\"5\">\r\n 	<li><strong> INTO THE CLOSE:</strong></li>\r\n</ol>\r\n<u>WANT A FREE PREMIUM SERVICE SUBSCRIPTION:</u>\r\n\r\nIf you like what you have read in this blog and would like the chance to win a FREE SUBSCRIPTION valued at CAD$150.00, all you need to do is subscribe to my FREE NEWSLETTER (this blog), by adding your email address on my welcome page just below my cube logo at <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a>\r\n\r\n<u>\r\nPREMIUM SERVICE SUBSCRIPTIONS:</u>\r\n\r\nIf you like what you’ve read in this blog and should you want to go a stage further and subscribe to the PREMIUM SERVICE, this can be done on my website <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a> under the Tab SUBSCRIBE HERE.\r\n\r\nSubscribing to the PREMIUM SERVICE is not just about receiving a larger “DRIVE THRU” blog packed with more trading supporting information, my thoughts and ideas. There is much more to a subscription than those things. Check it all out under the tab HISTORY &amp; PERFORMANCE on my website <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a>\r\n\r\nAlternatively, if you prefer to watch a video recording about the PREMIUM SERVICE, click the link below. You will be directed to a 40-minute webinar presentation entitled “AN INTRODUCTION TO THE PREMIUM SERVICE”.\r\n\r\n<a href=\"http://screencasts.weeklyfxdrivethru.com/watch/cb6fqiIAZX\">http://screencasts.weeklyfxdrivethru.com/watch/cb6fqiIAZX</a>\r\n\r\nTo subscribe to THE PREMIUM SERVICE, you will require a valid credit card.\r\n\r\n<u>\r\nCLOSING THOUGHTS:</u>\r\n\r\nNothing more to add here, I have said enough except,\r\n\r\nAs usual…\r\n\r\nAlways remember longevity in Forex trading can only be achieved through trading with good RISK and MONEY MANAGEMENT, and above all set your position sizes in accordance with the size of your account and allow for some flexibility.\r\n\r\nScott Pickering\r\nThe Pip Accumulator\r\nTwitter: @pipaccumulator\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/disclaimer/\">http://weeklyfxdrivethru.com/disclaimer/\r\n</a>\r\nBLOG VERSION: #FREE NEWSLETTER\r\n19th November 2017\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n&nbsp;', 'KIWI WILL REMAIN UNDER PRESSURE', '', 'inherit', 'closed', 'closed', '', '10429-revision-v1', '', '', '2017-11-18 06:23:10', '2017-11-18 11:23:10', '', 10429, 'https://weeklyfxdrivethru.com/10429-revision-v1/', 0, 'revision', '', 0),
(10434, 1, '2017-11-23 10:59:20', '2017-11-23 15:59:20', '[s2If current_user_is(administrator)]\r\nHello Site Administrator you can access all content :)\r\n[/s2If]\r\n[s2If current_user_is(s2member_level4)]\r\n\r\n<section class=\"clearfix\">\r\n<div class=\"one-fourth first membership\">\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/premium-service-annual-subscription-renewal/\"><img class=\"alignleft size-full wp-image-7748\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2016/05/Annual-Subscription-renewal.jpg\" alt=\"Premium Service Annual Subscription-renewal\" width=\"400\" /></a>\r\n<h3>Premium Service Annual Renewal (PLATINUM SUBSCRIBERS)</h3>\r\n<h2 class=\"price\">CAD $1000.00</h2>\r\n<a class=\"button\" href=\"https://weeklyfxdrivethru.com/premium-service-annual-subscription-renewal/\" type=\"button\"> Buy Now</a>\r\n\r\n</div>\r\n</section>[/s2If]\r\n\r\n[s2If current_user_is(s2member_level2)]\r\nPlease renew your Premium Service Subscription after logging out\r\n[/s2If]\r\n[s2If !is_user_logged_in()]\r\n\r\n<section class=\"clearfix\">\r\n<div class=\"one-third first membership\">\r\n\r\n<a href=\"./monthly-rollover-subscrption/\"><img class=\"alignleft size-full wp-image-9897\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/08/MonthlyRolloverSubscription.jpg\" alt=\"Monthly Rollover Subscription\" width=\"400\" /></a>\r\n<h3>MONTHLY ROLLOVER SUBSCRPTION</h3>\r\n<h2 class=\"price\">CAD $10.00 for the first 10 days</h2>\r\n<h2 class=\"price\">CAD $150.00 per month</h2>\r\n<a class=\"button\" href=\"./monthly-rollover-subscrption/\" type=\"button\"> Buy Now</a>\r\n\r\n</div>\r\n<div class=\"one-third membership\">\r\n\r\n<a href=\"./premium-service-20-weeks-subscription\"><img class=\"alignleft size-full wp-image-7746\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2016/05/6-Months-Subscriptions.jpg\" alt=\"Premium Service 6-Months-Subscriptions\" width=\"400\" /></a>\r\n<h3>6 Months Subscription</h3>\r\n<h2 class=\"price\">CAD $800.00</h2>\r\n<a class=\"button\" href=\"./premium-service-20-weeks-subscription\" type=\"button\"> Buy Now</a>\r\n\r\n</div>\r\n<div class=\"one-third membership\">\r\n\r\n<a href=\"./premium-service-40-weeks-subscription\"><img class=\"alignleft size-full wp-image-7747\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2016/05/Annual-Subscription.jpg\" alt=\"Premium Service Annual-Subscription\" width=\"750\" height=\"750\" /></a>\r\n<h3>Annual Subscription</h3>\r\n<h2 class=\"price\">CAD $1250.00</h2>\r\n<a class=\"button\" href=\"./premium-service-40-weeks-subscription\" type=\"button\"> Buy Now</a>\r\n\r\n</div>\r\n</section>[/s2If]', 'Subscription Options', '', 'inherit', 'closed', 'closed', '', '7749-revision-v1', '', '', '2017-11-23 10:59:20', '2017-11-23 15:59:20', '', 7749, 'https://weeklyfxdrivethru.com/7749-revision-v1/', 0, 'revision', '', 0),
(10435, 1, '2017-11-23 11:00:30', '2017-11-23 16:00:30', '[s2If current_user_is(administrator)]\r\nHello Site Administrator you can access all content :)\r\n[/s2If]\r\n[s2If current_user_is(s2member_level4)]\r\n\r\n<section class=\"clearfix\">\r\n<div class=\"one-fourth first membership\">\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/premium-service-annual-subscription-renewal/\"><img class=\"alignleft size-full wp-image-7748\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2016/05/Annual-Subscription-renewal.jpg\" alt=\"Premium Service Annual Subscription-renewal\" width=\"400\" /></a>\r\n<h3>Premium Service Annual Renewal (PLATINUM SUBSCRIBERS)</h3>\r\n<h2 class=\"price\">CAD $1000.00</h2>\r\n<a class=\"button\" href=\"https://weeklyfxdrivethru.com/premium-service-annual-subscription-renewal/\" type=\"button\"> Buy Now</a>\r\n\r\n</div>\r\n</section>[/s2If]\r\n\r\n[s2If current_user_is(s2member_level2)]\r\nPlease renew your Premium Service Subscription after logging out\r\n[/s2If]\r\n[s2If !is_user_logged_in()]\r\n\r\n<section class=\"clearfix\">\r\n<div class=\"one-third first membership\">\r\n\r\n<a href=\"./monthly-rollover-subscrption/\"><img class=\"alignleft size-full wp-image-9897\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/08/MonthlyRolloverSubscription.jpg\" alt=\"Monthly Rollover Subscription\" width=\"400\" /></a>\r\n<h3>MONTHLY ROLLOVER SUBSCRPTION</h3>\r\n<h2 class=\"price\">CAD $10.00 for the first 10 days</h2>\r\n<h2 class=\"price\">CAD $150.00 per month</h2>\r\n<a class=\"button\" href=\"./monthly-rollover-subscrption/\" type=\"button\"> Buy Now</a>\r\n\r\n</div>\r\n<div class=\"one-third membership\">\r\n\r\n<a href=\"./premium-service-20-weeks-subscription\"><img class=\"alignleft size-full wp-image-7746\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2016/05/6-Months-Subscriptions.jpg\" alt=\"Premium Service 6-Months-Subscriptions\" width=\"400\" /></a>\r\n<h3>6 Months Subscription (GOLD LEVEL SUBSCRIBERS)</h3>\r\n<h2 class=\"price\">CAD $800.00</h2>\r\n<a class=\"button\" href=\"./premium-service-20-weeks-subscription\" type=\"button\"> Buy Now</a>\r\n\r\n</div>\r\n<div class=\"one-third membership\">\r\n\r\n<a href=\"./premium-service-40-weeks-subscription\"><img class=\"alignleft size-full wp-image-7747\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2016/05/Annual-Subscription.jpg\" alt=\"Premium Service Annual-Subscription\" width=\"750\" height=\"750\" /></a>\r\n<h3>Annual Subscription (PLATINUM LEVEL SUBSCRIBERS)</h3>\r\n<h2 class=\"price\">CAD $1250.00</h2>\r\n<a class=\"button\" href=\"./premium-service-40-weeks-subscription\" type=\"button\"> Buy Now</a>\r\n\r\n</div>\r\n</section>[/s2If]', 'Subscription Options', '', 'inherit', 'closed', 'closed', '', '7749-revision-v1', '', '', '2017-11-23 11:00:30', '2017-11-23 16:00:30', '', 7749, 'https://weeklyfxdrivethru.com/7749-revision-v1/', 0, 'revision', '', 0),
(11746, 1049, '2018-05-16 18:09:48', '2018-05-16 23:09:48', '[content_block id=11767]\r\n\r\n<strong><span style=\"font-size: 14pt; color: #ff6600;\"><img class=\"alignleft size-full wp-image-12034\" src=\"https://staging1.weeklyfxdrivethru.com/wp-content/uploads/2018/05/pdf.png\" alt=\"\" width=\"80\" height=\"80\" />\r\n<span style=\"color: #993300;\">These resources are in PDF format that will allow for easy printing</span></span></strong>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n<blockquote>\r\n<p style=\"padding-left: 30px;\"><a style=\"font-size: 12pt; font-family: -apple-system, BlinkMacSystemFont, \'Segoe UI\', Roboto, Oxygen-Sans, Ubuntu, Cantarell, \'Helvetica Neue\', sans-serif;\" href=\"https://staging1.weeklyfxdrivethru.com/wp-content/uploads/2018/05/FACTORS-FOR-DETERMINING-POSITION-SIZES.pdf\" target=\"_blank\" rel=\"noopener\">FACTORS FOR DETERMINING POSITION SIZES\r\n</a></p>\r\n\r\n\r\n<hr style=\"padding-left: 30px;\" />\r\n<p style=\"padding-left: 30px;\"><span style=\"font-size: 12pt;\"><a href=\"https://staging1.weeklyfxdrivethru.com/wp-content/uploads/2018/05/TRADING-HABITS-THAT-WILL-HELP-YOU-MANAGE-YOUR-OPEN-POSITIONS.pdf\" target=\"_blank\" rel=\"noopener\">TRADING HABITS THAT WILL HELP YOU MANAGE YOUR OPEN POSITIONS</a></span></p>\r\n\r\n\r\n<hr style=\"padding-left: 30px;\" />\r\n<p style=\"padding-left: 30px;\"><span style=\"font-size: 12pt;\"><a href=\"https://staging1.weeklyfxdrivethru.com/wp-content/uploads/2018/05/THE-5-MOST-COMMON-MISTAKES-NEWBIE-TRADERS-MAKE.pdf\" target=\"_blank\" rel=\"noopener\">THE 5 MOST COMMON MISTAKES NEWBIE TRADERS MAKE\r\n</a></span></p>\r\n\r\n\r\n<hr style=\"padding-left: 30px;\" />\r\n<p style=\"padding-left: 30px;\"><span style=\"font-size: 12pt;\"><a href=\"https://staging1.weeklyfxdrivethru.com/wp-content/uploads/2018/05/REASONS-WHY-SO-MANY-TRADERS-FAIL.pdf\" target=\"_blank\" rel=\"noopener\">REASONS WHY SO MANY TRADERS FAIL\r\n</a></span></p>\r\n\r\n\r\n<hr style=\"padding-left: 30px;\" />\r\n<p style=\"padding-left: 30px;\"><span style=\"font-size: 12pt;\"><a href=\"https://staging1.weeklyfxdrivethru.com/wp-content/uploads/2018/05/POSITION-SIZING...TIPS-ON-HOW-TO-AVOID-RISKING-TOO-MUCH.pdf\" target=\"_blank\" rel=\"noopener\">POSITION SIZING...TIPS ON HOW TO AVOID RISKING TOO MUCH\r\n</a></span></p>\r\n\r\n\r\n<hr style=\"padding-left: 30px;\" />\r\n<p style=\"padding-left: 30px;\"><span style=\"font-size: 12pt;\"><a href=\"https://staging1.weeklyfxdrivethru.com/wp-content/uploads/2018/05/LIVE-ACCOUNT-vs-DEMO-ACCOUNT.pdf\" target=\"_blank\" rel=\"noopener\">LIVE ACCOUNT vs DEMO ACCOUNT</a></span></p>\r\n</blockquote>', '\"NEWBIE\" TRADERS', '', 'publish', 'closed', 'closed', '', 'newbie-traders', '', '', '2018-05-31 19:36:55', '2018-06-01 00:36:55', '', 0, 'https://weeklyfxdrivethru.com/?page_id=11746', 0, 'page', '', 0),
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(11805, 1049, '2018-05-16 19:44:46', '2018-05-17 00:44:46', '<span style=\"font-size: 12pt;\">Content Pending</span>', 'CHART PATTERNS', '', 'trash', 'closed', 'closed', '', 'chart-patterns__trashed', '', '', '2018-05-16 19:46:11', '2018-05-17 00:46:11', '', 0, 'https://weeklyfxdrivethru.com/?page_id=11805', 0, 'page', '', 0),
(11806, 1049, '2018-05-16 19:44:46', '2018-05-17 00:44:46', '<span style=\"font-size: 12pt;\">Content Pending</span>', 'CHART PATTERNS', '', 'inherit', 'closed', 'closed', '', '11805-revision-v1', '', '', '2018-05-16 19:44:46', '2018-05-17 00:44:46', '', 11805, 'https://weeklyfxdrivethru.com/2018/05/11805-revision-v1/', 0, 'revision', '', 0),
(11813, 1049, '2018-05-16 19:56:11', '2018-05-17 00:56:11', '[content_block id=11767]\r\n<section class=\"pdf-links\">\r\n<div class=\"one-third first\"><a href=\"https://staging1.weeklyfxdrivethru.com/wp-content/uploads/2014/01/Ascending-Triangle.pdf\">Ascending Triangle</a>\r\n<a href=\"https://staging1.weeklyfxdrivethru.com/wp-content/uploads/2014/01/Bump-and-Run-Reversal.pdf\">Bump and Run Reversal</a>\r\n<a href=\"https://staging1.weeklyfxdrivethru.com/wp-content/uploads/2014/01/Cup-with-Handle.pdf\">Cup with Handle</a>\r\n<a href=\"https://staging1.weeklyfxdrivethru.com/wp-content/uploads/2014/01/Descending-Triangle.pdf\">Descending Triangle</a>\r\n<a href=\"https://staging1.weeklyfxdrivethru.com/wp-content/uploads/2014/01/Double-Bottom-Reversal.pdf\">Double Bottom Reversal</a>\r\n<a href=\"https://staging1.weeklyfxdrivethru.com/wp-content/uploads/2014/01/Double-Top-Reversal.pdf\">Double Top Reversal</a></div>\r\n<div class=\"one-third\"><a href=\"https://staging1.weeklyfxdrivethru.com/wp-content/uploads/2014/01/Falling-Wedge1.pdf\">Falling Wedge</a>\r\n<a href=\"https://staging1.weeklyfxdrivethru.com/wp-content/uploads/2014/01/Flag-Pennant-Continuation.pdf\">Flag, Pennant (Continuation)</a>\r\n<a href=\"https://staging1.weeklyfxdrivethru.com/wp-content/uploads/2014/01/Head-and-Shoulders-Bottom1.pdf\">Head and Shoulders Bottom</a>\r\n<a href=\"https://staging1.weeklyfxdrivethru.com/wp-content/uploads/2014/01/Head-and-Shoulders-Top1.pdf\">Head and Shoulders Top</a>\r\n<a href=\"https://staging1.weeklyfxdrivethru.com/wp-content/uploads/2014/01/Measured-Move-Bearish-Continuation.pdf\">Measured Move - Bearish Continuation</a>\r\n<a href=\"https://staging1.weeklyfxdrivethru.com/wp-content/uploads/2014/01/Measured-Move-Bullish.pdf\">Measured Move (Bullish)</a></div>\r\n<div class=\"one-third\"><a href=\"https://staging1.weeklyfxdrivethru.com/wp-content/uploads/2014/01/Rising-Wedge.pdf\">Rising Wedge</a>\r\n<a href=\"https://staging1.weeklyfxdrivethru.com/wp-content/uploads/2014/01/Rounding-Bottom.pdf\">Rounding Bottom</a>\r\n<a href=\"https://staging1.weeklyfxdrivethru.com/wp-content/uploads/2014/01/Symmetrical-Triangle.pdf\">Symmetrical Triangle</a>\r\n<a href=\"https://staging1.weeklyfxdrivethru.com/wp-content/uploads/2014/01/Triple-Bottom.pdf\">Triple Bottom</a>\r\n<a href=\"https://staging1.weeklyfxdrivethru.com/wp-content/uploads/2014/01/Triple-Top-Reversal.pdf\">Triple Top Reversal</a></div>\r\n</section>\r\n<div class=\"one-half first\">\r\n\r\nThese resources are in PDF format that will allow for easy printing\r\n\r\n</div>', 'Chart Patterns', '', 'inherit', 'closed', 'closed', '', '2543-revision-v1', '', '', '2018-05-16 19:56:11', '2018-05-17 00:56:11', '', 2543, 'https://weeklyfxdrivethru.com/2018/05/2543-revision-v1/', 0, 'revision', '', 0),
(11807, 1049, '2018-05-16 19:48:53', '2018-05-17 00:48:53', '<h6><span style=\"font-family: arial, helvetica, sans-serif;\"><a href=\"https://staging1.weeklyfxdrivethru.com/newbie-traders/\">Newbie Traders &gt;&gt;</a></span></h6>\n<h6><span style=\"font-family: arial, helvetica, sans-serif;\"><a href=\"https://staging1.weeklyfxdrivethru.com/trade-plans-account-management/\">Trade Plans (Account Management) &gt;&gt;</a></span></h6>\n<h6><span style=\"font-family: arial, helvetica, sans-serif;\"><a href=\"https://staging1.weeklyfxdrivethru.com/day-to-day-trading-trade-management/\">Day to Day Trading ( Trade Management) &gt;&gt;</a></span></h6>\n<h6><span style=\"font-family: arial, helvetica, sans-serif;\"><a href=\"https://staging1.weeklyfxdrivethru.com/managing-risk-risk-management/\">Managing Risk (Risk Management &gt;&gt;</a></span></h6>\n<h6><span style=\"font-family: arial, helvetica, sans-serif;\"><a href=\"https://staging1.weeklyfxdrivethru.com/trading-psychology/\">Trading Psychology (HEAD Management) &gt;&gt;</a></span></h6>\n<h6><span style=\"font-family: arial, helvetica, sans-serif;\"><a href=\"https://staging1.weeklyfxdrivethru.com/training-support/chart-patterns/\">Chart Patterns &gt;&gt;</a></span></h6>', 'Education - trading essentials', '', 'inherit', 'closed', 'closed', '', '11767-autosave-v1', '', '', '2018-05-16 19:48:53', '2018-05-17 00:48:53', '', 11767, 'https://weeklyfxdrivethru.com/2018/05/11767-autosave-v1/', 0, 'revision', '', 0),
(11791, 1049, '2018-05-16 19:28:46', '2018-05-17 00:28:46', '[content_block id=11767]\r\n\r\n<strong><img class=\"alignleft size-full wp-image-12034\" src=\"https://i2.wp.com/staging1.weeklyfxdrivethru.com/wp-content/uploads/2018/05/pdf.png?resize=80%2C80&amp;ssl=1\" alt=\"\" width=\"80\" height=\"80\" data-attachment-id=\"12034\" data-permalink=\"https://staging1.weeklyfxdrivethru.com/candlestick-analysis/pdf-2/\" data-orig-file=\"https://i2.wp.com/weeklyfxdrivethru.com/wp-content/uploads/2018/05/pdf.png?fit=80%2C80&amp;ssl=1\" data-orig-size=\"80,80\" data-comments-opened=\"1\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"pdf\" data-image-description=\"\" data-medium-file=\"https://i2.wp.com/weeklyfxdrivethru.com/wp-content/uploads/2018/05/pdf.png?fit=80%2C80&amp;ssl=1\" data-large-file=\"https://i2.wp.com/weeklyfxdrivethru.com/wp-content/uploads/2018/05/pdf.png?fit=80%2C80&amp;ssl=1\" /></strong>\r\n\r\n&nbsp;\r\n\r\n<strong><span style=\"font-size: 14pt; color: #993300;\">These resources are in PDF format that will allow for easy printing</span></strong>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n<blockquote>\r\n<p style=\"padding-left: 30px;\"><a style=\"font-family: -apple-system, BlinkMacSystemFont, \'Segoe UI\', Roboto, Oxygen-Sans, Ubuntu, Cantarell, \'Helvetica Neue\', sans-serif;\" href=\"https://staging1.weeklyfxdrivethru.com/wp-content/uploads/2018/05/MANAGING-RISK.pdf\" target=\"_blank\" rel=\"noopener\"><span style=\"font-size: 12pt;\">MANAGING RISK</span></a></p>\r\n\r\n\r\n<hr style=\"padding-left: 30px;\" />\r\n<p style=\"padding-left: 30px;\"><span style=\"font-size: 12pt;\"><a href=\"https://staging1.weeklyfxdrivethru.com/wp-content/uploads/2018/05/THE-STAGES-OF-LOSS-IN-FOREX.pdf\" target=\"_blank\" rel=\"noopener\">THE STAGES OF LOSS IN FOREX</a></span></p>\r\n\r\n\r\n<hr style=\"padding-left: 30px;\" />\r\n<p style=\"padding-left: 30px;\"><span style=\"font-size: 12pt;\"><a href=\"https://staging1.weeklyfxdrivethru.com/wp-content/uploads/2018/05/THE-MOST-OVERLOOKED-RISKS-IN-TRADING-AND-HOW-TO-ADDRESS-THEM.pdf\" target=\"_blank\" rel=\"noopener\">THE MOST OVERLOOKED RISKS IN TRADING AND HOW TO ADDRESS THEM</a></span></p>\r\n\r\n\r\n<hr style=\"padding-left: 30px;\" />\r\n<p style=\"padding-left: 30px;\"><span style=\"font-size: 12pt;\"><a href=\"https://staging1.weeklyfxdrivethru.com/wp-content/uploads/2018/05/STEPS-TO-TAKE-WHEN-FACED-WITH-STRESSFUL-FOREX-SITUATIONS.pdf\" target=\"_blank\" rel=\"noopener\">STEPS TO TAKE WHEN FACED WITH STRESSFUL FOREX SITUATIONS</a></span></p>\r\n\r\n\r\n<hr style=\"padding-left: 30px;\" />\r\n<p style=\"padding-left: 30px;\"><span style=\"font-size: 12pt;\"><a href=\"https://staging1.weeklyfxdrivethru.com/wp-content/uploads/2018/05/MAXIMISING-PROFIT-POTENTIAL-BY-PROPERLY-SIZING-POSITIONS.pdf\" target=\"_blank\" rel=\"noopener\">MAXIMISING PROFIT POTENTIAL BY PROPERLY SIZING POSITIONS</a></span></p>\r\n</blockquote>', 'MANAGING RISK (RISK MANAGEMENT)', '', 'publish', 'closed', 'closed', '', 'managing-risk-risk-management', '', '', '2018-05-31 19:43:19', '2018-06-01 00:43:19', '', 0, 'https://weeklyfxdrivethru.com/?page_id=11791', 0, 'page', '', 0),
(11809, 1049, '2018-05-16 19:51:30', '2018-05-17 00:51:30', '<span style=\"font-size: 12pt;\">Content Pending</span>\r\n\r\n&nbsp;', 'TRADING STRATEGIES', '', 'publish', 'closed', 'closed', '', 'trading-strategies', '', '', '2018-05-31 12:18:30', '2018-05-31 17:18:30', '', 0, 'https://weeklyfxdrivethru.com/?page_id=11809', 0, 'page', '', 0);
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(11799, 1049, '2018-05-16 19:40:33', '2018-05-17 00:40:33', '[content_block id=11767]\r\n\r\n<strong><img class=\"alignleft size-full wp-image-12034\" src=\"https://i2.wp.com/staging1.weeklyfxdrivethru.com/wp-content/uploads/2018/05/pdf.png?resize=80%2C80&amp;ssl=1\" alt=\"\" width=\"80\" height=\"80\" data-attachment-id=\"12034\" data-permalink=\"https://staging1.weeklyfxdrivethru.com/candlestick-analysis/pdf-2/\" data-orig-file=\"https://i2.wp.com/weeklyfxdrivethru.com/wp-content/uploads/2018/05/pdf.png?fit=80%2C80&amp;ssl=1\" data-orig-size=\"80,80\" data-comments-opened=\"1\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"pdf\" data-image-description=\"\" data-medium-file=\"https://i2.wp.com/weeklyfxdrivethru.com/wp-content/uploads/2018/05/pdf.png?fit=80%2C80&amp;ssl=1\" data-large-file=\"https://i2.wp.com/weeklyfxdrivethru.com/wp-content/uploads/2018/05/pdf.png?fit=80%2C80&amp;ssl=1\" /></strong>\r\n\r\n&nbsp;\r\n\r\n<strong><span style=\"font-size: 14pt; color: #993300;\">These resources are in PDF format that will allow for easy printing</span></strong>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n<blockquote>\r\n<p style=\"padding-left: 30px;\"><a style=\"font-size: 12pt; font-family: -apple-system, BlinkMacSystemFont, \'Segoe UI\', Roboto, Oxygen-Sans, Ubuntu, Cantarell, \'Helvetica Neue\', sans-serif;\" href=\"https://staging1.weeklyfxdrivethru.com/wp-content/uploads/2018/05/TRADING-PSYCHOLOGY-AND-DRAWDOWNS.pdf\" target=\"_blank\" rel=\"noopener\">TRADING PSYCHOLOGY AND DRAWDOWNS</a></p>\r\n\r\n\r\n<hr style=\"padding-left: 30px;\" />\r\n<p style=\"padding-left: 30px;\"><a style=\"font-size: 12pt; font-family: -apple-system, BlinkMacSystemFont, \'Segoe UI\', Roboto, Oxygen-Sans, Ubuntu, Cantarell, \'Helvetica Neue\', sans-serif;\" href=\"https://staging1.weeklyfxdrivethru.com/wp-content/uploads/2018/05/TRADING-PSYCHOLOGY-RECENCY-BIAS.pdf\" target=\"_blank\" rel=\"noopener\">TRADING PSYCHOLOGY - RECENCY BIAS</a></p>\r\n\r\n\r\n<hr style=\"padding-left: 30px;\" />\r\n<p style=\"padding-left: 30px;\"><a style=\"font-size: 12pt; font-family: -apple-system, BlinkMacSystemFont, \'Segoe UI\', Roboto, Oxygen-Sans, Ubuntu, Cantarell, \'Helvetica Neue\', sans-serif;\" href=\"https://staging1.weeklyfxdrivethru.com/wp-content/uploads/2018/05/TRADING-OUTSIDE-OF-YOUR-COMFORT-ZONE.pdf\" target=\"_blank\" rel=\"noopener\">TRADING OUTSIDE OF YOUR COMFORT ZONE</a></p>\r\n\r\n\r\n<hr style=\"padding-left: 30px;\" />\r\n<p style=\"padding-left: 30px;\"><a style=\"font-size: 12pt; font-family: -apple-system, BlinkMacSystemFont, \'Segoe UI\', Roboto, Oxygen-Sans, Ubuntu, Cantarell, \'Helvetica Neue\', sans-serif;\" href=\"https://staging1.weeklyfxdrivethru.com/wp-content/uploads/2018/05/TRADING-MISTAKES-THAT-MAY-BE-LIMITING-YOUR-PROFITABILITY.pdf\" target=\"_blank\" rel=\"noopener\">TRADING MISTAKES THAT MAY BE LIMITING YOUR PROFITABILITY\r\n</a></p>\r\n\r\n\r\n<hr style=\"padding-left: 30px;\" />\r\n<p style=\"padding-left: 30px;\"><span style=\"font-size: 12pt;\"><a href=\"https://staging1.weeklyfxdrivethru.com/wp-content/uploads/2018/05/THE-CRITICAL-SUCCESS-FACTORS-YOU-NEED-TO-BECOME-A-SUCCESSFUL-TRADER.pdf\" target=\"_blank\" rel=\"noopener\">THE CRITICAL SUCCESS FACTORS YOU NEED TO BECOME A SUCCESSFUL TRADER\r\n</a></span></p>\r\n\r\n\r\n<hr style=\"padding-left: 30px;\" />\r\n<p style=\"padding-left: 30px;\"><span style=\"font-size: 12pt;\"><a href=\"https://staging1.weeklyfxdrivethru.com/wp-content/uploads/2018/05/SEVERAL-WAYS-TO-OVERCOME-TRADING-BURNOUT.pdf\" target=\"_blank\" rel=\"noopener\">SEVERAL WAYS TO OVERCOME TRADING BURNOUT\r\n</a></span></p>\r\n\r\n\r\n<hr style=\"padding-left: 30px;\" />\r\n<p style=\"padding-left: 30px;\"><span style=\"font-size: 12pt;\"><a href=\"https://staging1.weeklyfxdrivethru.com/wp-content/uploads/2018/05/PSYCHOLOGICAL-PITFALLS-THAT-WILL-BLOW-YOUR-ACCOUNT.pdf\" target=\"_blank\" rel=\"noopener\">PSYCHOLOGICAL PITFALLS THAT WILL BLOW YOUR ACCOUNT</a>\r\n</span></p>\r\n\r\n\r\n<hr style=\"padding-left: 30px;\" />\r\n<p style=\"padding-left: 30px;\"><span style=\"font-size: 12pt;\"><a href=\"https://staging1.weeklyfxdrivethru.com/wp-content/uploads/2018/05/PROBABILITIES-IN-TRADING.pdf\" target=\"_blank\" rel=\"noopener\">PROBABILITIES IN TRADING</a></span></p>\r\n\r\n\r\n<hr style=\"padding-left: 30px;\" />\r\n<p style=\"padding-left: 30px;\"><span style=\"font-size: 12pt;\"><a href=\"https://staging1.weeklyfxdrivethru.com/wp-content/uploads/2018/05/IDEAS-TO-BATTLE-UNCERTAINTY-IN-FOREX-TRADING.pdf\" target=\"_blank\" rel=\"noopener\">IDEAS TO BATTLE UNCERTAINTY IN FOREX TRADING</a></span></p>\r\n\r\n\r\n<hr style=\"padding-left: 30px;\" />\r\n<p style=\"padding-left: 30px;\"><span style=\"font-size: 12pt;\"><a href=\"https://staging1.weeklyfxdrivethru.com/wp-content/uploads/2018/05/HOW-YOUR-PHYSICAL-WELL-BEING-AFFECTS-YOUR-FX-TRADING.pdf\" target=\"_blank\" rel=\"noopener\">HOW YOUR PHYSICAL WELL-BEING AFFECTS YOUR FX TRADING</a></span></p>\r\n\r\n\r\n<hr style=\"padding-left: 30px;\" />\r\n<p style=\"padding-left: 30px;\"><span style=\"font-size: 12pt;\"><a href=\"https://staging1.weeklyfxdrivethru.com/wp-content/uploads/2018/05/HOW-TO-HANDLE-YOUR-FOREX-TRADING-WORRIES.pdf\" target=\"_blank\" rel=\"noopener\">HOW TO HANDLE YOUR FOREX TRADING WORRIES</a></span></p>\r\n\r\n\r\n<hr style=\"padding-left: 30px;\" />\r\n<p style=\"padding-left: 30px;\"><span style=\"font-size: 12pt;\"><a href=\"https://staging1.weeklyfxdrivethru.com/wp-content/uploads/2018/05/ARE-YOU-FORCING-TRADES.pdf\" target=\"_blank\" rel=\"noopener\">ARE YOU FORCING TRADES?</a></span></p>\r\n\r\n\r\n<hr style=\"padding-left: 30px;\" />\r\n<p style=\"padding-left: 30px;\"><span style=\"font-size: 12pt;\"><a href=\"https://staging1.weeklyfxdrivethru.com/wp-content/uploads/2018/05/A-MATHEMATICAL-APPROACH-TO-ELIMINATING-EMOTIONS.pdf\" target=\"_blank\" rel=\"noopener\">A MATHEMATICAL APPROACH TO ELIMINATING EMOTIONS</a></span></p>\r\n\r\n\r\n<hr style=\"padding-left: 30px;\" />\r\n<p style=\"padding-left: 30px;\"><span style=\"font-size: 12pt;\"><a href=\"https://staging1.weeklyfxdrivethru.com/wp-content/uploads/2018/05/5-OF-THE-WORST-EXCUSES-TO-NOT-START-TRADING.pdf\" target=\"_blank\" rel=\"noopener\">5 OF THE WORST EXCUSES TO NOT START TRADING</a></span></p>\r\n</blockquote>', 'TRADING PSYCHOLOGY (HEAD MANAGEMENT)', '', 'publish', 'closed', 'closed', '', 'trading-psychology', '', '', '2018-05-31 19:34:41', '2018-06-01 00:34:41', '', 0, 'https://weeklyfxdrivethru.com/?page_id=11799', 0, 'page', '', 0),
(12057, 1049, '2018-05-31 18:33:25', '2018-05-31 23:33:25', '<hr />\r\n\r\n<blockquote>\r\n<h6><span style=\"font-family: arial, helvetica, sans-serif; font-size: 12pt; color: #0000ff;\"><a style=\"color: #0000ff;\" href=\"https://staging1.weeklyfxdrivethru.com/newbie-traders/\">Newbie Traders &gt;&gt;</a></span></h6>\r\n<h6><span style=\"font-family: arial, helvetica, sans-serif; font-size: 12pt; color: #0000ff;\"><a style=\"color: #0000ff;\" href=\"https://staging1.weeklyfxdrivethru.com/trade-plans-account-management/\">Accounts Management - Trade Plan &gt;&gt;</a></span></h6>\r\n<h6><span style=\"font-family: arial, helvetica, sans-serif; font-size: 12pt; color: #0000ff;\"><a style=\"color: #0000ff;\" href=\"https://staging1.weeklyfxdrivethru.com/day-to-day-trading-trade-management/\">Account Management - Day to Day Trading &gt;&gt;</a></span></h6>\r\n<h6><span style=\"font-family: arial, helvetica, sans-serif; font-size: 12pt; color: #0000ff;\"><a style=\"color: #0000ff;\" href=\"https://staging1.weeklyfxdrivethru.com/managing-risk-risk-management/\">Risk Management  &gt;&gt;</a></span></h6>\r\n<h6><span style=\"font-family: arial, helvetica, sans-serif; font-size: 12pt; color: #0000ff;\"><a style=\"color: #0000ff;\" href=\"https://staging1.weeklyfxdrivethru.com/trading-psychology/\">Head Management - Trading Psychology  &gt;&gt;</a></span></h6>\r\n</blockquote>', 'Education - trading essentials', '', 'inherit', 'closed', 'closed', '', '11767-revision-v1', '', '', '2018-05-31 18:33:25', '2018-05-31 23:33:25', '', 11767, 'https://weeklyfxdrivethru.com/2018/05/11767-revision-v1/', 0, 'revision', '', 0),
(10438, 1, '2017-11-23 11:55:27', '2017-11-23 16:55:27', '<h2>THE PREMIUM SERVICE from THE WEEKLY FX DRIVE-THRU</h2>\r\nFLASH, RADAR, MOMENTUM, FUNDAMENTAL and POSITION trade set-ups, “Tweets” and “Trade ideas” that are posted in my blogs or on Twitter are trades and set-ups that interest me. They are provided for training and informational purposes only and should not be interpreted as an offer, solicitation or recommendation of any specific security or investment strategy. Past performance is not indicative of future results. Trading Forex carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to trade any such leveraged products you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with trading on margin, and seek advice from an independent financial adviser if you have any doubts.\r\n\r\nIn an effort to prevent against fraud and account sharing our system restricts access to 3 IP addresses per account. Example: Home, Office and Mobile.\r\n\r\nPlease make sure with your internet service provider that you have a static IP address before signing up for the Premium Service. If you do NOT have a static IP address, please contact me so that I can explain the way around this to avoid frustration at:- scott@thepremiumservice.com\r\n\r\nPlease also note THE PREMIUM SERVICE has NO REFUND POLICY.\r\n\r\nAll subscription charges are non-refundable regardless of the beginning of a Subscriber\'s business cycle. The Subscriber is entitled to use his/her own subscription to THE PREMIUM SERVICE until the end of the billing cycle following his/her cancellation.\r\n\r\nScott Pickering\r\nHalifax (Nova Scotia), Canada\r\n<a href=\"mailto:subscriptions@thepremiumservice.com\">scott@thepremiumservice.com\r\n</a>', 'Terms and Conditions', '', 'inherit', 'closed', 'closed', '', '7769-revision-v1', '', '', '2017-11-23 11:55:27', '2017-11-23 16:55:27', '', 7769, 'https://weeklyfxdrivethru.com/7769-revision-v1/', 0, 'revision', '', 0),
(10439, 1, '2017-11-23 11:56:44', '2017-11-23 16:56:44', '<h2>THE WEEKLY FX DRIVE-THRU\r\nPREMIUM SERVICE</h2>\r\n<h3>VIEWS AND COMMENTS IN THIS BLOG:</h3>\r\nAll the comments and views expressed in my blog are my thoughts and ideas only. They are based on my FUNDAMENTAL views of the markets and my thoughts on the individuals concerned on how they manage positions in the public domain. In addition, I have my own thoughts and views about what I think goes on behind closed doors. You should NOT base any trade ideas on my thoughts and views alone. As I have said on many occasions in my blog, I am a FUNDAMENTAL trader first, then a TECHNICAL trader second using chart analysis to establish what I believe to be excellent trade entry positions. However, you must make up your own mind and trade at your own risk deciding if the entry levels I refer to actually meet with your views and thoughts. This makes complete sense as the risk in trading your account is 100% owned by you.\r\n<h3>THIRD PARTY COMPANIES WITH BANNERS ON MY WEBSITE:</h3>\r\nThere are a small number of companies with banners on my website. In the interests of full disclosure I have a reciprocal business arrangement with these companies to promote their products. Unlike many of my competitors, I use the products and services provided by these companies. I will NOT allow any third party on my website unless I am 100% happy that they can back up their promise. By virtue of the fact, I work with these companies almost daily. I am more than confident to have them advertise on my website. Any reader who buys products or services from any advertiser via a banner on my website, www.weeklyfxdrivethru.com will automatically have my help and assistance with any issues that they may have with my partnered advertisers.\r\n<h3>TRADING &amp; PERFORMANCES DISCLAIMER:</h3>\r\nFLASH, RADAR, MOMENTUM, FUNDAMENTAL and POSITION trade set-ups, “Tweets” and “Trade ideas” that are posted in my blogs or on Twitter are trades and set-ups that interest me. They are provided for training and informational purposes only and should not be interpreted as an offer, solicitation or recommendation of any specific security or investment strategy. Past performance is not indicative of future results. Trading Forex carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to trade any such leveraged products you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with trading on margin, and seek advice from an independent financial adviser if you have any doubts.', 'Disclaimer', '', 'inherit', 'closed', 'closed', '', '2781-revision-v1', '', '', '2017-11-23 11:56:44', '2017-11-23 16:56:44', '', 2781, 'https://weeklyfxdrivethru.com/2781-revision-v1/', 0, 'revision', '', 0),
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(10488, 1, '2017-12-02 17:03:56', '2017-12-02 22:03:56', '&nbsp;\r\n<ol>\r\n 	<li><strong>THE FIRST FEW SHOTS:</strong></li>\r\n</ol>\r\nWelcome.\r\n\r\nWhenever I type December I am already thinking about Christmas, New Year and not being too anal but next year’s trading plans.\r\n\r\nWith regards to my FX trading next year and my plans with the PREMIUM SERVICE, I will announce them on a “drip feed” basis in the “DRIVE THRU” blogs between now and the final one of 2017 due out on 17th December.\r\n\r\nSo, with my own version of the countdown just two more “DRIVE THRU’s” until Christmas after this one!!\r\n\r\nI have had feedback to the recent changes with the DRIVE THRU blog format. I would like to thank those who commented about the changes, there were some positives and some negatives to the new structure.\r\n<ul>\r\n 	<li>Some miss “THE SOAPBOX” - some don\'t because it’s NOT directly currency related.</li>\r\n 	<li>Some want more charts. These are reserved for PREMIUM SERVICE subscribers throughout the trading week, sorry.</li>\r\n 	<li>Some want both - more charts and more SOAPBOX!!</li>\r\n 	<li>How to trade the week favourably received</li>\r\n</ul>\r\nThe blog takes me about 6-8 hours in total to write, compile and post. My wife, spell checks, grammar checks and signs off that I am NOT being too extreme. Then it has to be broken into the different formats for the various social media releases, update and post the WordPress versions and post the manual versions onto various Social Media formats. My goal is to reduce the time spent on production but have it just as focused but at the same time away from the usual FX reviews. I am a strong believer in differentiation.\r\n\r\nMoving on…\r\n\r\nPlease keep the feedback coming I love it and if you picked the DRIVE THRU blog up via TWITTER and you like my style and/or approach please feel free to re-tweet it!\r\n\r\nRemember you can always subscribe to the PREMIUM SERVICE to get more of my approach on a daily basis and at the same time get some help on making pips. My target for 2018 is 10,000 net pips…. I dare you!!\r\n\r\nNext…\r\n\r\nI enter December with 19 x LIVE TRADES and 14 x LIMIT ORDERS in position raring to go. Normally I would say, as we approach the end of the year it is time to slowly pullback and reduce RISK into the year end…. yeah right!\r\n\r\nAs soon as I plan something like this, opportunities come leaping out at me. It’s all about life choices and the FUNDAMENTALS, so for PREMIUM SERVICE subscribers please note it is very highly likely circa. 99.9% that there will be trading through the Christmas holidays, I just cannot see how it will not happen at this precise moment in time. So; get prepared for, paper hats on, turkey drumstick in hand and Jack Daniels by the side of the keyboard trading coming to a screen near you!\r\n\r\nEnough of that…\r\n\r\nMy sampling of my competition continues. Here is the best from this week’s experiences.\r\n\r\nHow to start this is difficult. I was trying to keep an open mind but pick me up off the floor!!\r\n\r\nI do despair sometimes. I know that I am NOT perfect and sometimes I can be off the wall son occasion with trades, but FFS, I have heard it all now.\r\n\r\nPlanets in alignment to move markets.\r\n\r\nIt’s not a question of Venus and Saturn, there has to be joke in here about Uranus.\r\n\r\nHMOG, you may as well place biscuits over potential trade set ups on paper, place them on the floor and let my Labrador boy, Ozzy eat them. The trade under the biscuit he picks first is the set up to trade!\r\n\r\nTalk about bollocks.\r\n\r\nMoving on…\r\n\r\nTHE PREMIUM SERVICE had another great month in November, and it is now only 272 pips behind last year’s record total at this stage of the year.\r\n\r\nNOVEMBER 2017 net TOTAL: 2,381 net pips\r\n2017 YEAR TO DATE: 12,783 net pips\r\n\r\nI do have a few trades hanging around with losses that I have carried forward into December. Most notable is a HEDGED 700 pip USD/CAD 3 separate trades position. The rest are small fry. So that contingent liability will have to be taken into consideration. The bottom line is however that I should remain (all things being equal) above my 10,000 pips per annum objective.\r\n\r\nMore details of the November performance can be found under the HISTORY &amp; PERFORMANCE tab on my welcome page.\r\n\r\nStaying in sales mode; now is a great time to join the PREMIUM SERVICE and be familiar and ready to go with the 2018 launch!!\r\n\r\nFinally, …\r\n\r\nIs anyone as sick of pigging BITCOIN as I am, my SPAM folders are full of it, for the remainder of 2017 there will be no mentions of fecking BITCOIN or crypto currencies in this blog. I don’t trade it, I am at the moment not interested in it, it is just a distraction to look at the charts and whilst I am sure it will remain around for some time, at the moment, I only have two words to say about BITCOIN… me arse!\r\n\r\nI did find this gem on twitter this week however…\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/BITCOIN-TWEET-03122017.png\"><img class=\"aligncenter size-large wp-image-10473\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/BITCOIN-TWEET-03122017-1024x466.png\" alt=\"\" width=\"1024\" height=\"466\" /></a>\r\n\r\n&nbsp;\r\n\r\n<strong> </strong>\r\n<ol start=\"2\">\r\n 	<li><strong>THE FX MARKET PLACE THIS WEE</strong></li>\r\n</ol>\r\n<u>\r\nTHIS WEEK’S ECONOMIC DATA RELEASES:</u>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/ECON-DATA-03122017.png\"><img class=\"aligncenter size-large wp-image-10478\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/ECON-DATA-03122017-1024x989.png\" alt=\"\" width=\"1024\" height=\"989\" /></a>\r\n\r\n&nbsp;\r\n\r\n<u>MY THOUGHTS ON THIS WEEK’S ECONOMIC DATA:</u>\r\n\r\nThere is swoop of data this week. It will be challenging to say the least. There is a great deal of Tier one data that should influence FX moves through to the year end.\r\n\r\nI think we have a pretty good understanding that the FED will raise come hell or high water, in fact “Hell” could freeze over but I still think Yellen will raise rates regardless.\r\n\r\nIn addition, of course we will continue to watch and listen to the fallout from the ex. TRUMP advisor Mike Flynn news that he will testify against the President of The United States. Having said that the “BUY THE FECKIN’ DIP” mentality even stands true when a possible impeachment case is on the horizon. After the Flynn revelations settled in and the Kushner links also came through, the markets then pared losses. No matter what the news, BUY THE DIP seems to always be the strategy in the U.S.\r\n\r\nIn no particular order: -\r\n\r\n<strong><u>AUD:</u></strong><u> CURRENT ACCOUNT, RETAIL SALES, RBA, GDP &amp; TRADE BALANCE</u>.\r\n\r\nJM&amp;J, this is what you call a “Clatter” of data. It’s all good stuff and highly directional.\r\n\r\nThe AUD has been under pressure to the downside of late. RBA policy via Governor Philip Lowe has been “Status Quo” policy neutral. The housing situation in Sydney causes huge concerns and Philip Lowe has made it clear he is no rush to raise rates but he has stated recently that the next direction of AUD rates will be higher.\r\n\r\nI rate Philip Lowe, I think he’s a thinker. I do NOT think he will want to rock any boats this week even if he has insider knowledge of any of the data numbers due to be released.\r\n\r\nRetail Sales will be a biggie. Last time around it was a 0%. If it does not post a positive number in the run up to Christmas, it never will. This is a key release in my opinion. The Current Account and Trade Balance are important but maybe not as relevant into the year-end. Like many things in December its pushed into the next Calendar year.\r\n\r\nGDP is as important as Retail Sales albeit it\'s a backward-looking number. Last quarter it was 0.8%, a minimum of a beat will be required.\r\n\r\nTrading the AUD will be awkward this week, with so much data. I enter with a lot of AUD short and long trades… so the PREMIUM SERVICE is HEDGED!!\r\n\r\n<strong><u>\r\nUSD:</u></strong><u> JOBS DATA.</u>\r\n\r\nRecently there has been no correlation between the private sector and public-sector jobs data. So, DO NOT trust that the ADP numbers will be an indication of NFP due Friday this week.\r\n\r\nThese numbers are always watched and noted, but in relation to FED policy and the FOMC interest rate decision due later this month, they are not as important in my eyes. I WILL NOT be trading NFP. I will watch and be a trading voyeur but as I have stated many, many times you more often than not have more luck with a national lottery than you do with trading FX on NFP day.\r\n\r\nAs for the numbers, as long as the 6 month averages are maintained I cannot see how the markets could be disappointed. There should be a chunk of part-time given the time of the year and this will create chaos and disorder for the initial knee-jerk reactions but when it’s all said and done its all about wage growth to show inflation. So, the Average Hourly Earnings with the NFP data on Friday will be key.\r\n\r\nI may have to hide my keyboard or take either Ozzy or Aoife for a walk as a distraction as I DO NOT want to trade NFP…. See you Friday then!\r\n\r\n&nbsp;\r\n\r\n<strong><u>CAD:</u></strong><u> TRADE BALANCE &amp; BOC.</u>\r\n\r\nI have two wives at the moment. My physical one and the other one is the USD/CAD. At times, I feel like I am married to three HEDGED TRADES as well. My losses are fixed at 700 pips while I wait to enter my “HEDGE OUT” trades to trigger.\r\n\r\nThe GDP and Jobs Data last Friday was a real pain in the arse, a nice little pre-data spike could have triggered my short trades. I am now I think probably waiting on this week’s data to hopefully get my entry price!\r\n\r\nWith regards to the data.\r\n\r\nThe TRADE BALANCE must move back towards positive and below CAD$3 Billion. It was April when it was last below CAD$2 Billion. It has a history of failing to meet forecasts.\r\n\r\nStephen Poloz has been a downbeat gloomy little fecker of late and it’s about time he had a spiked egg nog to cheer him up.\r\n\r\nWith the FED raising in December, there will be some pressure to follow suit. I just cannot see it this week. However, Poloz likes to surprise. One cannot rule it out. I would personally be astonished and would expect the next hike in Q1 2018.\r\n\r\nI do however think he will be a little more upbeat on the CAD economy, he should be with last week’s data and also with the run up to the year end and the Christmas holidays.\r\n\r\n&nbsp;\r\n\r\n<u>USD MAJORS – SUPPORT &amp; RESISTANCE LEVELS with BIAS:</u>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/TCHART-03122017.png\"><img class=\"aligncenter size-full wp-image-10479\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/TCHART-03122017.png\" alt=\"\" width=\"1016\" height=\"888\" /></a>\r\n\r\n&nbsp;\r\n\r\n<u>USD – TRADING CHARTS: </u>\r\n\r\nMore often than not I will use DAILY CHARTS for my analysis. My commentary and thoughts for each trading pair are above the charts.\r\n\r\n<strong>\r\n<u>EUR/USD:</u>\r\n</strong>\r\nNot much of a change in my thoughts or the chart that sits below. I think that I may have changed the colours of the lines that\'s about it!\r\n\r\nGREEN LINE = support at 1.1817\r\nPURPLE LINE = my bull / bear line at 1.1880\r\nDARK RED = resistance at 1.1960\r\nBLUE LINE = recent highs at 1.2090\r\n\r\nThe upward channel remains pretty much intact. We have been in a range of 1.1817 to 1.1960 in the past week.\r\n\r\nWe need to obviously break above or below to get this pair moving along. I have this feeling that now we are in December it will take either NFP this week or the ECB the week following to get things moving and give us a direction to follow.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/EURUSD-D-03122017.png\"><img class=\"aligncenter size-large wp-image-10482\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/EURUSD-D-03122017-1024x410.png\" alt=\"\" width=\"1024\" height=\"410\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n<strong><u>GBP/USD:</u></strong>\r\n\r\nI had been writing all week about the 1.3450 level being broken and creating a short squeeze.\r\n\r\nThe chart below, shows a possible “CUP &amp; HANDLE” pattern being formed with a measured move to 1.3900.\r\n\r\nWe must always temper the enthusiasm vis-à-vis the cable as it is always a news release away from a BREXIT announcement that can send it 100 pips lower or 100 pips higher. At the moment, there is a huge belief and more importantly a commitment to see serious progress acknowledged prior to the end of the year. This has me leaning more to the long side.\r\n\r\nThe 76.4% Fibonacci level that sits at 1.3508 is a key level. This pair was obviously spooked on the Flynn news last Friday. A break above this level should see the pair move towards a possible 1.4000 target beyond the CUP &amp; HANDLE pattern, at the golden Fib. level of 161.8%.\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/GBPUSD-D-03122017.png\"><img class=\"aligncenter size-large wp-image-10483\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/GBPUSD-D-03122017-1024x410.png\" alt=\"\" width=\"1024\" height=\"410\" /></a>\r\n\r\n&nbsp;\r\n\r\n<strong><u>AUD/USD:</u></strong>\r\n\r\nThe down channel remains intact albeit it was temporarily broken on the Flynn news. I am still bearish this pair and see 1.7640 as a great level to short from but even with the Flynn revelations this level failed to be achieved.\r\n\r\nWe are in a tight trading range between the PURPLE lines on the chart 0.7530 to 0.7640.\r\n\r\nThe RBA meets this week. I am not expecting any change in policy and I expect Philip Lowe to release a statement that is once again neutral.\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/AUDUSD-D-03122017.png\"><img class=\"aligncenter size-large wp-image-10481\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/AUDUSD-D-03122017-1024x410.png\" alt=\"\" width=\"1024\" height=\"410\" /></a>\r\n\r\n&nbsp;\r\n\r\n<strong><u>NZD/USD:\r\n</u></strong>\r\nWe have a bullish engulfing candle from last Friday. This usually means that a move higher should continue to be seen. Of late, these candles have NOT produced the follow through that is usually seen.\r\n\r\nWe are range bound between the two PURPLE lines of 0.6780 and 0.6980.\r\n\r\nTechnically, I think that this move higher just gives us a better price to short from as politically New Zealand has issues to overcome and whilst this uncertainty remains in place the pressure to the downside will always prevail.\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/NZDUSD-D-03122017.png\"><img class=\"aligncenter size-large wp-image-10484\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/NZDUSD-D-03122017-1024x410.png\" alt=\"\" width=\"1024\" height=\"410\" /></a>\r\n\r\n&nbsp;\r\n\r\n<strong><u>USD/CAD:</u></strong><strong>\r\n</strong>\r\nBugger…\r\n\r\nI really wanted to be short this pair, but I was looking for a level closer to the 200 DAY SMA and the 61.8% Fibonacci retracement level.\r\n\r\nThat is a “helluva” BIG RED candle on the chart. Usually BIG RED candles are followed by further BIG RED candles.\r\n\r\nThe trading range is 1.2660 to 1.2915.\r\n\r\nWe have the BOC this week, I just can’t see Poloz being dovish. I see him more positive than of late and this may send the USD/CAD lower. Ideally from my point of view I want him to dismiss last Friday’s data as “Mickey Mouse:” and send the USD/CAD back to 1.3000. I just can’t envisage that happening.\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/USDCAD-D-03122017.png\"><img class=\"aligncenter size-large wp-image-10485\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/USDCAD-D-03122017-1024x410.png\" alt=\"\" width=\"1024\" height=\"410\" /></a>\r\n\r\n&nbsp;\r\n\r\n<strong><u>USD/CHF:</u></strong><strong>\r\n</strong>\r\nI am still dreaming of bull flags and pennants with this pair. The measured move is to 1.0350, which by interest is a previous level of resistance from last year.\r\n\r\nIf 0.9700 gives way on the back of the flight to safety move which has affected this pair following the “FLYNN” revelations, we could see a move back to the recent lows around 0.9400.\r\n\r\nBe ready for a snap back move with this pair its correlation with its inverse relationship with the EUR/USD is out of sync. But make no mistake, on uncertainty the flight to buy GOLD also affects the CHF.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/USDCHF-03122017.png\"><img class=\"aligncenter size-large wp-image-10486\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/USDCHF-03122017-1024x410.png\" alt=\"\" width=\"1024\" height=\"410\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n<strong><u>USD/JPY:</u></strong><u>\r\n</u>\r\nThis pair was hit hard with the “FLYNN” news.\r\n\r\nOn Friday that is almost a 160-pip candle from 111.40 to 113.00. Quite a move for this pair. I think that the trading range to work with is 110.80 to 113.00.  This pair will be affected the most as equities and bonds fly around on the news headlines as they are released.\r\n\r\nIt goes without saying, do not get too heavy in a position size as when the market is headline driven moves can whip around very quickly.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/USDJPY-D-03122017.png\"><img class=\"aligncenter size-large wp-image-10487\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/USDJPY-D-03122017-1024x410.png\" alt=\"\" width=\"1024\" height=\"410\" /></a>\r\n\r\n&nbsp;\r\n\r\n<u>MY THOUGHTS ON HOW TO PLAY FX THIS WEEK:</u>\r\n\r\nWe are now in December. This is historically, a strange month, Christmas parties, sexual harassment claims, lawyers will be on 24x7 call outs, and from a trading perspective volatility tends to thin out as the market becomes less liquid.\r\n\r\nWe do have a few interesting snippets however to keep traders at their desks. The GREED factor will certainly come into play with the institutions and for us, the poor retail traders we have to be savvy and selective.\r\n\r\nNews items that are driving the markets have been based around the US TAX BILL, BREXIT and on Friday last week ex. TRUMP National Security advisor, Mike Flynn announced that he will testify against the President. BREXIT will play on for the next two years, but this month it is crucial for UK Prime Minister, Theresa May to see acknowledged progress has been made. My focus this week is GBP related.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/GBPUSD-MONTHLY-03122017.png\"><img class=\"aligncenter size-large wp-image-10480\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/GBPUSD-MONTHLY-03122017-1024x398.png\" alt=\"\" width=\"1024\" height=\"398\" /></a>\r\n\r\n&nbsp;\r\n\r\nYou can see from the above Monthly GBP/USD chart that we are breaking out above a multi-year trend line (from August 2104).\r\n\r\nThis is big news if the push higher can be maintained and it should have a knock-on effect through all cable related pairs.\r\n\r\nOne other fact to note from the GBP/USD chart is to take a look at the November monthly candle. It is very, very bullish. In fact, when you look at the moves from the August 2016 lows the monthly candle pattern is trending nicely higher.\r\n\r\nThe PREMIUM SERVICE is currently trading EUR/GBP, GBP/AUD and GBP/JPY. I am as I have stated several times of late not 100% happy trading the USD at the moment and my focus is more away from the majors into the cross rates.\r\n\r\nCable will be my main focus this week along with the CAD (to initiate my “HEDGE OUT” trades).\r\n\r\nWe must note that the FED report via the FOMC on December 13th, with the ECB and BOE both on the following day 14th December. I believe Friday 15th December will be the last day with anything near normal trading volumes.\r\n\r\nAs you know I would usually write here to look at cross rate pairs as an option. My GBP trades are POSITION style trades for the long haul and my trading activity with cross rate currency pairs that already have limited liquidity will; be severely curtailed from now on given the reduced volumes ahead. The RISK of getting stuck with an increased volatile pair with reduced trading volumes is just not worth it in my opinion, no matter how much of a volatility junkie you may be.\r\n\r\nFinally, as we enter a period, when the USD should be demonstrating increased strength through the passing of the TAX BILL, but more importantly Central Bank divergence, as Yellen will probably raise U.S. interest rates on December 13th,\r\n\r\nWould it not seem common sense to maybe hold an emerging market cross? Maybe take a look at USD/ZAR, USD/TRY or USD/MXN.\r\n\r\nThe bottom line is to try to be cute. It is you versus the big banks.\r\n\r\nFLYNN: It is a RISK OFF event in my opinion. I need to see reaction on Monday this week to get a better picture. On Friday, last week when the news broke it was like watching headless chickens running around a farmyard. Kushner was linked which may have helped the markets steady. But who knows? The DXY was slammed on Friday following the news breaking, but like the markets pared back after a while (see below).\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/DXY-03122017.png\"><img class=\"aligncenter size-large wp-image-10474\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/DXY-03122017-1024x495.png\" alt=\"\" width=\"1024\" height=\"495\" /></a>\r\n\r\n&nbsp;\r\n<ol start=\"3\">\r\n 	<li><strong> THE PREMIUM SERVICE:</strong></li>\r\n</ol>\r\nThe PREMIUM SERVICE is my own subscriber based Forex support service that offers subscribers my suggested trade set-ups and market commentaries.\r\n\r\nFull details of the PREMIUM SERVICE and costs to subscribe plus the various trade styles and how suggested trade set-ups are communicated can be found on my website landing page at <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a> by selecting the HISTORY &amp; PERFORMANCE tab.\r\n\r\n<u>CURRENT 2017 PREMIUM SERVICE PERFORMANCE:</u>\r\n\r\nPIPS TOTAL NOVEMBER 2017:     = +2,381 pips\r\nYEAR TO DATE:                              = +12,783 pips\r\n\r\nFurther information can be found by clicking TESTIMONIALS, PART-TIME TRADERS and FX PROMOTIONS tabs on my website  <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a>\r\nAlternatively, if you prefer to watch a video recording about the PREMIUM SERVICE, click the link below. You will be directed to a 40-minute webinar presentation entitled “AN INTRODUCTION TO THE PREMIUM SERVICE”.\r\n\r\n<a href=\"http://screencasts.weeklyfxdrivethru.com/watch/cb6fqiIAZX\">http://screencasts.weeklyfxdrivethru.com/watch/cb6fqiIAZX</a>\r\n\r\nTo subscribe to THE PREMIUM SERVICE, you will require a valid credit card.\r\n\r\n&nbsp;\r\n<ol start=\"4\">\r\n 	<li><strong> PREMIUM SERVICE SUBSCRIBERS ONLY:</strong></li>\r\n</ol>\r\n(Only SUBSCRIBERS to the PREMIUM SERVICE can view this section of the BLOG)\r\n\r\n<u>4:1. TRADING REVIEW:</u>\r\nWell November was the second-best pip performing month in 2017. I am carrying forward about 600 pips of negative trades plus an additional negative 700 pips of USD/CAD HEDGED trades into December. Therefore, the chances of a 2016 beat vis-à-vis pip performance looks unlikely.\r\n\r\nThe net pip total for November was 2,381 pips\r\nYear to date = 12,783 pips\r\n\r\nRatios of profit / loss trades are above 75% / 25% remaining in line, but my income this year will be lower than last year and lower than 2015.\r\n\r\nI have had to change my style and approach to trading to accommodate the market swings which have virtually made trading in 2017 unrecognizable from 2015.\r\n\r\nThe increasing reliance on automated trades via algorithms has brought a new dynamic to FX. Some of these algorithms are “STOP HUNTERS” and this creates a different type of trading environment in which to operate. In my opinion, to achieve a trading longevity in these markets we must trade smaller with wider stops and accept that maybe earnings will be a little lower. I really think that the days of looking for 50 pips of profit on a trade with a 30-pip stop are well behind us now. In fact, I think 50 pip stops are pointless most of the time.  I am still of the opinion that Fibonacci levels, pivot points and previous interest levels are the paramount key in conjunction with some chart patterns.\r\n\r\nAt the end of the day though, it’s still all about RISK MANAGEMENT. Whichever way you slice it, you still need to trade position sizes in line with your broker account balance.\r\n\r\nFollowing on from comments last week, I am revising my POSITION SIZING chart and introducing a new trade style called MOMENTUM TRADES.\r\n\r\nOne aspect of trading smaller positions with wider stops that cannot be ignored is that drawdowns can be larger especially with my POSITION trades which, can be based off MONTHLY ATR levels.\r\n\r\nMOMENTUM trades will be a little riskier as they are based off MOMENTUM moves that are NOT confirmed. They will however have tighter stops which will reduce drawdown levels. With almost 50% of my trades (47.5%) now being POSITION trades it’s time to review and adjust again.\r\n\r\nI have almost completed a revision of my TRADE STYLE DEFINITIONS and redefined existing styles to increase clarity for next year. This should be on the website soon, along with the new POSITION SIZING spreadsheet. I will email copies as well.\r\n\r\nI am undecided on the re-introduction of the weekly webinar. I cannot find a suitable vehicle that is iMac compatible. I will keep looking.\r\n\r\n<u>\r\n</u><u>4:2. SENTIMENT CHART,</u><u> FUNDAMENTAL &amp; MACRO THOUGHTS</u><u>:</u>\r\n\r\nLast Friday was a strange day, there was the US TAX BILL shenanigans, BREXIT confusion and mis-quotes coming back and forth from North Korea. The DAILY candles were strange based upon what one would have thought to have seen via continuation moves off the close of the November monthly candles.\r\n\r\nSentiment however was disrupted last Friday on the back of the Michael Flynn news. Prior to the bombshell breaking I was in the camp that USD should remain positive moving towards the year end based off the FED rate hike due on the 13th December. Initially we saw a massive drop in the DXY, but then we had the usual “BUY THE DIP” mentality set in.\r\n\r\nMoving forward, my thoughts are based around long GBP trades. I spent a good few hours putting together potential GBP related ARMAGEDDON trades. These look redundant now. I will NOT be rushing in to participate in this market, I want to see the dust settle on the Flynn fallout.\r\n\r\nI will be running down trades and RISK EXPOSURE into the holidays and as mentioned already, the last day of reasonable volume I expect to be on Friday 15th December after the FOMC, ECB and BOE are out of the way. Of course, I am ignoring BREXIT and other geopolitical news events that could happen.\r\n\r\nLooking at the sentiment chart, sentiment is still mixed.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/SENTIMENT-03122017.png\"><img class=\"aligncenter size-large wp-image-10477\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/SENTIMENT-03122017-775x1024.png\" alt=\"\" width=\"775\" height=\"1024\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n<u>4:3. TRADING PLANS:</u>\r\n\r\n<u>4:3.1. TRADING PLAN OVERVIEW THIS WEEK:</u>\r\n\r\nMy action plan for the week is: -\r\n<ol>\r\n 	<li>USD sentiment is still all over the place. Flynn revelations have not helped. I think it should be treated as RISK OFF but I need to wait, see and evaluate. Therefore, I will stay away as much as possible from the majors.</li>\r\n 	<li>Plan GBP long trades. There are some nice pullbacks from Friday last week that should offer some nice levels. Again, I need to evaluate, digest and absorb the Flynn fallout.</li>\r\n 	<li>CAD HEDGES. I am looking for my entry at 1.2980 to trigger. I just can’t see that this week, anything close to 1.2900 I will see as a gift. I am annoyed via hindsight that I did not short at 1.2910. I need to see what Poloz says this Wednesday and then decide. I will have an either/or plan in place prior to the BOC.</li>\r\n</ol>\r\n<u>4:3.2.  EXISTING CORE TRADES (PLANS &amp; STRATEGIES):</u>\r\n\r\nI am STILL bearish the CAD, AUD and NZD currencies. I am now bullish cable!\r\n\r\nThe Flynn revelations turned the markets upside down last Friday and the uncertainties that this brings with it need to be absorbed and digested.\r\n\r\n<strong><u>THE CAD:</u></strong>\r\nCurrently, I am live the following: -\r\n\r\n3 x live short USD/CAD trades. All three are HEDGED. No OUT trades are placed yet.\r\n\r\n<u>MY PLAN:</u>  - My belief is still that the USD/CAD is a short trade. I am waiting for 1.2910-1.2980 to establish 3 x “OUT” trades for my HEDGED trades.  I have my “OUT” trade LIMIT ORDERS in place at 1.2980. Be prepared, I could be waiting several weeks here until the market conditions are right.\r\n\r\nI have no plans currently to place / related trades against other pairs.\r\n\r\n<strong><u>THE NZD</u></strong>:\r\n\r\nCurrently I have 4 x live long AUD/NZD trades, and a NZD/USD short trade in play.\r\n\r\nPlus: - I have 4 more AUD/NZD long trades in position, plus, a NZD/JPY and a further NZD/USD short trades as LIMIT ORDERS in position.\r\n\r\n<u>MY PLAN:</u> - I will be looking to add NZD trades across the board as soon as I see a meaningful pullback to provide beneficial pricing. After the Flynn fallout is rationalized.\r\n\r\n<strong><u>THE AUD:</u></strong>\r\n\r\nCurrently live I have an AUD/USD short and GBP/AUD long trade in position.\r\n\r\nPlus: - I have an additional AUD/USD short LIMIT ORDER.\r\n\r\n<u>MY PLAN:</u> - To add back trades across the board at the start of this coming week that I removed at the end of last week.\r\n\r\n<strong><u>THE GBP:</u></strong>\r\n\r\nCurrently I have a EUR/GBP short and GBP/AUD and GBP/JPY long trades in play.\r\n\r\n<u>MY PLAN</u>: - Is to add additional cable cross rate pairs, GBP/NZD and staged “Buy Stop” entries across several pairs.\r\n\r\nI do want to see the dust settle first after the volatility of last Friday first. I am NOT in any rush to participate.\r\n\r\n&nbsp;\r\n\r\n<u>4:4. CURRENT LIVE TRADES &amp; LIMIT ORDERS:</u>\r\n\r\nCURRENT LIVE TRADES:\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/LIVE-TRADES-03122017.png\"><img class=\"aligncenter size-large wp-image-10476\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/LIVE-TRADES-03122017-888x1024.png\" alt=\"\" width=\"888\" height=\"1024\" /></a>\r\n\r\n&nbsp;\r\n\r\nCURRENT LIMIT ORDER TRADES:\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/LIMIT-ORDERS-03122017.png\"><img class=\"aligncenter size-large wp-image-10475\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/LIMIT-ORDERS-03122017-946x1024.png\" alt=\"\" width=\"946\" height=\"1024\" /></a>\r\n\r\n&nbsp;\r\n\r\n<u>4:5. FX BROKER NEWS with their MARKET FEEDBACK:</u>\r\n\r\nYou may have seen examples similar to these (see below) over the past few weeks.\r\n\r\nSo, the brokers intentions are clear. BONUS $$$ and FREE WEBINARS. Be very careful on the offers there are NO free lunches in FX.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/11/HANTEC-MARKETS.png\"><img class=\"aligncenter size-large wp-image-10470\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/11/HANTEC-MARKETS-1024x510.png\" alt=\"\" width=\"1024\" height=\"510\" /></a>\r\n\r\n<strong> </strong>\r\n\r\n<strong> <a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/11/AVA-TRADE.png\"><img class=\"aligncenter size-large wp-image-10471\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/11/AVA-TRADE-1024x829.png\" alt=\"\" width=\"1024\" height=\"829\" /></a></strong>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n<ol start=\"5\">\r\n 	<li><strong> THE FINAL SHOTS:</strong></li>\r\n</ol>\r\n<u>WANT A FREE PREMIUM SERVICE SUBSCRIPTION:</u>\r\n\r\nIf you like what you have read in this blog and would like the chance to win a FREE SUBSCRIPTION valued at CAD$150.00, all you need to do is subscribe to my FREE NEWSLETTER (this blog), by adding your email address on my welcome page just below my cube logo at <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a>\r\n\r\n<u>PREMIUM SERVICE SUBSCRIPTIONS:</u>\r\n\r\nIf you like what you’ve read in this blog and should you want to go a stage further and subscribe to the PREMIUM SERVICE, this can be done on my website <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a> under the Tab SUBSCRIBE HERE.\r\n\r\nSubscribing to the PREMIUM SERVICE is not just about receiving a larger “DRIVE THRU” blog packed with more trading supporting information, my thoughts and ideas. There is much more to a subscription than those things. Check it all out under the tab HISTORY &amp; PERFORMANCE on my website <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a>\r\n\r\nAlternatively, if you prefer to watch a video recording about the PREMIUM SERVICE, click the link below. You will be directed to a 40-minute webinar presentation entitled “AN INTRODUCTION TO THE PREMIUM SERVICE”.\r\n\r\n<a href=\"http://screencasts.weeklyfxdrivethru.com/watch/cb6fqiIAZX\">http://screencasts.weeklyfxdrivethru.com/watch/cb6fqiIAZX</a>\r\n\r\nTo subscribe to THE PREMIUM SERVICE, you will require a valid credit card.\r\n\r\n<u>CLOSING THOUGHTS:</u>\r\n\r\nNothing more to add here, I have said enough except,\r\n\r\nAs usual…\r\n\r\nAlways remember longevity in Forex trading can only be achieved through trading with good RISK and MONEY MANAGEMENT, and above all set your position sizes in accordance with the size of your account and allow for some flexibility.\r\n\r\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: #157 PREMIUM SERVICE\r\n3rd December 2017\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n&nbsp;', 'NO MATTER WHAT… U.S. TRADERS BUY THE DIP', '', 'publish', 'open', 'closed', '', 'no-matter-u-s-traders-buy-dip', '', '', '2018-01-18 13:57:53', '2018-01-18 18:57:53', '', 0, 'https://weeklyfxdrivethru.com/?post_type=member_posts&#038;p=10488', 0, 'member_posts', '', 0);
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(10489, 1, '2017-12-02 13:00:05', '2017-12-02 18:00:05', '&nbsp;\r\n<ol>\r\n 	<li><strong>THE FIRST FEW SHOTS:</strong></li>\r\n</ol>\r\nWelcome.\r\n\r\nWhenever I type December I am already thinking about Christmas, New Year and not being too anal but next year’s trading plans.\r\n\r\nWith regards to my FX trading next year and my plans with the PREMIUM SERVICE, I will announce them on a “drip feed” basis in the “DRIVE THRU” blogs between now and the final one of 2017 due out on 17th December.\r\n\r\nSo, with my own version of the countdown just two more “DRIVE THRU’s” until Christmas after this one!!\r\n\r\nI have had feedback to the recent changes with the DRIVE THRU blog format. I would like to thank those who commented about the changes, there were some positives and some negatives to the new structure.\r\n<ul>\r\n 	<li>Some miss “THE SOAPBOX” - some don\'t because it’s NOT directly currency related.</li>\r\n 	<li>Some want more charts. These are reserved for PREMIUM SERVICE subscribers throughout the trading week, sorry.</li>\r\n 	<li>Some want both - more charts and more SOAPBOX!!</li>\r\n 	<li>How to trade the week favourably received</li>\r\n</ul>\r\nThe blog takes me about 6-8 hours in total to write, compile and post. My wife, spell checks, grammar checks and signs off that I am NOT being too extreme. Then it has to be broken into the different formats for the various social media releases, update and post the WordPress versions and post the manual versions onto various Social Media formats. My goal is to reduce the time spent on production but have it just as focused but at the same time away from the usual FX reviews. I am a strong believer in differentiation.\r\n\r\nMoving on…\r\n\r\nPlease keep the feedback coming I love it and if you picked the DRIVE THRU blog up via TWITTER and you like my style and/or approach please feel free to re-tweet it!\r\n\r\nRemember you can always subscribe to the PREMIUM SERVICE to get more of my approach on a daily basis and at the same time get some help on making pips. My target for 2018 is 10,000 net pips…. I dare you!!\r\n\r\nNext…\r\n\r\nI enter December with 19 x LIVE TRADES and 14 x LIMIT ORDERS in position raring to go. Normally I would say, as we approach the end of the year it is time to slowly pullback and reduce RISK into the year end…. yeah right!\r\n\r\nAs soon as I plan something like this, opportunities come leaping out at me. It’s all about life choices and the FUNDAMENTALS, so for PREMIUM SERVICE subscribers please note it is very highly likely circa. 99.9% that there will be trading through the Christmas holidays, I just cannot see how it will not happen at this precise moment in time. So; get prepared for, paper hats on, turkey drumstick in hand and Jack Daniels by the side of the keyboard trading coming to a screen near you!\r\n\r\nEnough of that…\r\n\r\nMy sampling of my competition continues. Here is the best from this week’s experiences.\r\n\r\nHow to start this is difficult. I was trying to keep an open mind but pick me up off the floor!!\r\n\r\nI do despair sometimes. I know that I am NOT perfect and sometimes I can be off the wall son occasion with trades, but FFS, I have heard it all now.\r\n\r\nPlanets in alignment to move markets.\r\n\r\nIt’s not a question of Venus and Saturn, there has to be joke in here about Uranus.\r\n\r\nHMOG, you may as well place biscuits over potential trade set ups on paper, place them on the floor and let my Labrador boy, Ozzy eat them. The trade under the biscuit he picks first is the set up to trade!\r\n\r\nTalk about bollocks.\r\n\r\nMoving on…\r\n\r\nTHE PREMIUM SERVICE had another great month in November, and it is now only 272 pips behind last year’s record total at this stage of the year.\r\n\r\nNOVEMBER 2017 net TOTAL: 2,381 net pips\r\n2017 YEAR TO DATE: 12,783 net pips\r\n\r\nI do have a few trades hanging around with losses that I have carried forward into December. Most notable is a HEDGED 700 pip USD/CAD 3 separate trades position. The rest are small fry. So that contingent liability will have to be taken into consideration. The bottom line is however that I should remain (all things being equal) above my 10,000 pips per annum objective.\r\n\r\nMore details of the November performance can be found under the HISTORY &amp; PERFORMANCE tab on my welcome page.\r\n\r\nStaying in sales mode; now is a great time to join the PREMIUM SERVICE and be familiar and ready to go with the 2018 launch!!\r\n\r\nFinally, …\r\n\r\nIs anyone as sick of pigging BITCOIN as I am, my SPAM folders are full of it, for the remainder of 2017 there will be no mentions of fecking BITCOIN or crypto currencies in this blog. I don’t trade it, I am at the moment not interested in it, it is just a distraction to look at the charts and whilst I am sure it will remain around for some time, at the moment, I only have two words to say about BITCOIN… me arse!\r\n\r\nI did find this gem on twitter this week however…\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/BITCOIN-TWEET-03122017.png\"><img class=\"aligncenter size-large wp-image-10473\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/BITCOIN-TWEET-03122017-1024x466.png\" alt=\"\" width=\"1024\" height=\"466\" /></a>\r\n\r\n&nbsp;\r\n\r\n<strong> </strong>\r\n<ol start=\"2\">\r\n 	<li><strong>THE FX MARKET PLACE THIS WEE</strong></li>\r\n</ol>\r\n<u>\r\nTHIS WEEK’S ECONOMIC DATA RELEASES:</u>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/ECON-DATA-03122017.png\"><img class=\"aligncenter size-large wp-image-10478\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/ECON-DATA-03122017-1024x989.png\" alt=\"\" width=\"1024\" height=\"989\" /></a>\r\n\r\n&nbsp;\r\n\r\n<u>MY THOUGHTS ON THIS WEEK’S ECONOMIC DATA:</u>\r\n\r\nThere is swoop of data this week. It will be challenging to say the least. There is a great deal of Tier one data that should influence FX moves through to the year end.\r\n\r\nI think we have a pretty good understanding that the FED will raise come hell or high water, in fact “Hell” could freeze over but I still think Yellen will raise rates regardless.\r\n\r\nIn addition, of course we will continue to watch and listen to the fallout from the ex. TRUMP advisor Mike Flynn news that he will testify against the President of The United States. Having said that the “BUY THE FECKIN’ DIP” mentality even stands true when a possible impeachment case is on the horizon. After the Flynn revelations settled in and the Kushner links also came through, the markets then pared losses. No matter what the news, BUY THE DIP seems to always be the strategy in the U.S.\r\n\r\nIn no particular order: -\r\n\r\n<strong><u>AUD:</u></strong><u> CURRENT ACCOUNT, RETAIL SALES, RBA, GDP &amp; TRADE BALANCE</u>.\r\n\r\nJM&amp;J, this is what you call a “Clatter” of data. It’s all good stuff and highly directional.\r\n\r\nThe AUD has been under pressure to the downside of late. RBA policy via Governor Philip Lowe has been “Status Quo” policy neutral. The housing situation in Sydney causes huge concerns and Philip Lowe has made it clear he is no rush to raise rates but he has stated recently that the next direction of AUD rates will be higher.\r\n\r\nI rate Philip Lowe, I think he’s a thinker. I do NOT think he will want to rock any boats this week even if he has insider knowledge of any of the data numbers due to be released.\r\n\r\nRetail Sales will be a biggie. Last time around it was a 0%. If it does not post a positive number in the run up to Christmas, it never will. This is a key release in my opinion. The Current Account and Trade Balance are important but maybe not as relevant into the year-end. Like many things in December its pushed into the next Calendar year.\r\n\r\nGDP is as important as Retail Sales albeit it\'s a backward-looking number. Last quarter it was 0.8%, a minimum of a beat will be required.\r\n\r\nTrading the AUD will be awkward this week, with so much data. I enter with a lot of AUD short and long trades… so the PREMIUM SERVICE is HEDGED!!\r\n\r\n<strong><u>\r\nUSD:</u></strong><u> JOBS DATA.</u>\r\n\r\nRecently there has been no correlation between the private sector and public-sector jobs data. So, DO NOT trust that the ADP numbers will be an indication of NFP due Friday this week.\r\n\r\nThese numbers are always watched and noted, but in relation to FED policy and the FOMC interest rate decision due later this month, they are not as important in my eyes. I WILL NOT be trading NFP. I will watch and be a trading voyeur but as I have stated many, many times you more often than not have more luck with a national lottery than you do with trading FX on NFP day.\r\n\r\nAs for the numbers, as long as the 6 month averages are maintained I cannot see how the markets could be disappointed. There should be a chunk of part-time given the time of the year and this will create chaos and disorder for the initial knee-jerk reactions but when it’s all said and done its all about wage growth to show inflation. So, the Average Hourly Earnings with the NFP data on Friday will be key.\r\n\r\nI may have to hide my keyboard or take either Ozzy or Aoife for a walk as a distraction as I DO NOT want to trade NFP…. See you Friday then!\r\n\r\n&nbsp;\r\n\r\n<strong><u>CAD:</u></strong><u> TRADE BALANCE &amp; BOC.</u>\r\n\r\nI have two wives at the moment. My physical one and the other one is the USD/CAD. At times, I feel like I am married to three HEDGED TRADES as well. My losses are fixed at 700 pips while I wait to enter my “HEDGE OUT” trades to trigger.\r\n\r\nThe GDP and Jobs Data last Friday was a real pain in the arse, a nice little pre-data spike could have triggered my short trades. I am now I think probably waiting on this week’s data to hopefully get my entry price!\r\n\r\nWith regards to the data.\r\n\r\nThe TRADE BALANCE must move back towards positive and below CAD$3 Billion. It was April when it was last below CAD$2 Billion. It has a history of failing to meet forecasts.\r\n\r\nStephen Poloz has been a downbeat gloomy little fecker of late and it’s about time he had a spiked egg nog to cheer him up.\r\n\r\nWith the FED raising in December, there will be some pressure to follow suit. I just cannot see it this week. However, Poloz likes to surprise. One cannot rule it out. I would personally be astonished and would expect the next hike in Q1 2018.\r\n\r\nI do however think he will be a little more upbeat on the CAD economy, he should be with last week’s data and also with the run up to the year end and the Christmas holidays.\r\n\r\n&nbsp;\r\n\r\n<u>USD MAJORS – SUPPORT &amp; RESISTANCE LEVELS with BIAS:</u>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/TCHART-03122017.png\"><img class=\"aligncenter size-full wp-image-10479\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/TCHART-03122017.png\" alt=\"\" width=\"1016\" height=\"888\" /></a>\r\n\r\n&nbsp;\r\n\r\n<u>USD – TRADING CHARTS: </u>\r\n\r\nMore often than not I will use DAILY CHARTS for my analysis. My commentary and thoughts for each trading pair are above the charts.\r\n\r\n<strong>\r\n<u>EUR/USD:</u>\r\n</strong>\r\nNot much of a change in my thoughts or the chart that sits below. I think that I may have changed the colours of the lines that\'s about it!\r\n\r\nGREEN LINE = support at 1.1817\r\nPURPLE LINE = my bull / bear line at 1.1880\r\nDARK RED = resistance at 1.1960\r\nBLUE LINE = recent highs at 1.2090\r\n\r\nThe upward channel remains pretty much intact. We have been in a range of 1.1817 to 1.1960 in the past week.\r\n\r\nWe need to obviously break above or below to get this pair moving along. I have this feeling that now we are in December it will take either NFP this week or the ECB the week following to get things moving and give us a direction to follow.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/EURUSD-D-03122017.png\"><img class=\"aligncenter size-large wp-image-10482\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/EURUSD-D-03122017-1024x410.png\" alt=\"\" width=\"1024\" height=\"410\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n<strong><u>GBP/USD:</u></strong>\r\n\r\nI had been writing all week about the 1.3450 level being broken and creating a short squeeze.\r\n\r\nThe chart below, shows a possible “CUP &amp; HANDLE” pattern being formed with a measured move to 1.3900.\r\n\r\nWe must always temper the enthusiasm vis-à-vis the cable as it is always a news release away from a BREXIT announcement that can send it 100 pips lower or 100 pips higher. At the moment, there is a huge belief and more importantly a commitment to see serious progress acknowledged prior to the end of the year. This has me leaning more to the long side.\r\n\r\nThe 76.4% Fibonacci level that sits at 1.3508 is a key level. This pair was obviously spooked on the Flynn news last Friday. A break above this level should see the pair move towards a possible 1.4000 target beyond the CUP &amp; HANDLE pattern, at the golden Fib. level of 161.8%.\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/GBPUSD-D-03122017.png\"><img class=\"aligncenter size-large wp-image-10483\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/GBPUSD-D-03122017-1024x410.png\" alt=\"\" width=\"1024\" height=\"410\" /></a>\r\n\r\n&nbsp;\r\n\r\n<strong><u>AUD/USD:</u></strong>\r\n\r\nThe down channel remains intact albeit it was temporarily broken on the Flynn news. I am still bearish this pair and see 1.7640 as a great level to short from but even with the Flynn revelations this level failed to be achieved.\r\n\r\nWe are in a tight trading range between the PURPLE lines on the chart 0.7530 to 0.7640.\r\n\r\nThe RBA meets this week. I am not expecting any change in policy and I expect Philip Lowe to release a statement that is once again neutral.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/AUDUSD-D-03122017.png\"><img class=\"aligncenter size-large wp-image-10481\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/AUDUSD-D-03122017-1024x410.png\" alt=\"\" width=\"1024\" height=\"410\" /></a>\r\n\r\n<strong><u>NZD/USD:\r\n</u></strong>\r\nWe have a bullish engulfing candle from last Friday. This usually means that a move higher should continue to be seen. Of late, these candles have NOT produced the follow through that is usually seen.\r\n\r\nWe are range bound between the two PURPLE lines of 0.6780 and 0.6980.\r\n\r\nTechnically, I think that this move higher just gives us a better price to short from as politically New Zealand has issues to overcome and whilst this uncertainty remains in place the pressure to the downside will always prevail.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/NZDUSD-D-03122017.png\"><img class=\"aligncenter size-large wp-image-10484\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/NZDUSD-D-03122017-1024x410.png\" alt=\"\" width=\"1024\" height=\"410\" /></a>\r\n\r\n&nbsp;\r\n\r\n<strong><u>USD/CAD:</u></strong><strong>\r\n</strong>\r\nBugger…\r\n\r\nI really wanted to be short this pair, but I was looking for a level closer to the 200 DAY SMA and the 61.8% Fibonacci retracement level.\r\n\r\nThat is a “helluva” BIG RED candle on the chart. Usually BIG RED candles are followed by further BIG RED candles.\r\n\r\nThe trading range is 1.2660 to 1.2915.\r\n\r\nWe have the BOC this week, I just can’t see Poloz being dovish. I see him more positive than of late and this may send the USD/CAD lower. Ideally from my point of view I want him to dismiss last Friday’s data as “Mickey Mouse:” and send the USD/CAD back to 1.3000. I just can’t envisage that happening.\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n<strong><u>USD/CHF:</u></strong><strong>\r\n</strong>\r\nI am still dreaming of bull flags and pennants with this pair. The measured move is to 1.0350, which by interest is a previous level of resistance from last year.\r\n\r\n&nbsp;\r\n\r\nIf 0.9700 gives way on the back of the flight to safety move which has affected this pair following the “FLYNN” revelations, we could see a move back to the recent lows around 0.9400.\r\n\r\n&nbsp;\r\n\r\nBe ready for a snap back move with this pair its correlation with its inverse relationship with the EUR/USD is out of sync. But make no mistake, on uncertainty the flight to buy GOLD also affects the CHF.\r\n\r\n&nbsp;\r\n\r\n(INSERT USD/CHF CHART)\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n<strong><u>USD/JPY:</u></strong><u>\r\n</u>\r\nThis pair was hit hard with the “FLYNN” news.\r\n\r\n&nbsp;\r\n\r\nOn Friday that is almost a 160-pip candle from 111.40 to 113.00. Quite a move for this pair. I think that the trading range to work with is 110.80 to 113.00.  This pair will be affected the most as equities and bonds fly around on the news headlines as they are released.\r\n\r\n&nbsp;\r\n\r\nIt goes without saying, do not get too heavy in a position size as when the market is headline driven moves can whip around very quickly.\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n(INSERT USD/JPY CHART)\r\n\r\n<u> </u>\r\n\r\n<u> </u>\r\n\r\n<u> </u>\r\n\r\n<u>MY THOUGHTS ON HOW TO PLAY FX THIS WEEK:</u>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\nWe are now in December. This is historically, a strange month, Christmas parties, sexual harassment claims, lawyers will be on 24x7 call outs, and from a trading perspective volatility tends to thin out as the market becomes less liquid.\r\n\r\n&nbsp;\r\n\r\nWe do have a few interesting snippets however to keep traders at their desks. The GREED factor will certainly come into play with the institutions and for us, the poor retail traders we have to be savvy and selective.\r\n\r\n&nbsp;\r\n\r\nNews items that are driving the markets have been based around the US TAX BILL, BREXIT and on Friday last week ex. TRUMP National Security advisor, Mike Flynn announced that he will testify against the President. BREXIT will play on for the next two years, but this month it is crucial for UK Prime Minister, Theresa May to see acknowledged progress has been made. My focus this week is GBP related.\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n(INSERT GBP MONTHLY CHART)\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\nYou can see from the above Monthly GBP/USD chart that we are breaking out above a multi-year trend line (from August 2104).\r\n\r\nThis is big news if the push higher can be maintained and it should have a knock-on effect through all cable related pairs.\r\n\r\n&nbsp;\r\n\r\nOne other fact to note from the GBP/USD chart is to take a look at the November monthly candle. It is very, very bullish. In fact, when you look at the moves from the August 2016 lows the monthly candle pattern is trending nicely higher.\r\n\r\n&nbsp;\r\n\r\nThe PREMIUM SERVICE is currently trading EUR/GBP, GBP/AUD and GBP/JPY. I am as I have stated several times of late not 100% happy trading the USD at the moment and my focus is more away from the majors into the cross rates.\r\n\r\n&nbsp;\r\n\r\nCable will be my main focus this week along with the CAD (to initiate my “HEDGE OUT” trades).\r\n\r\n&nbsp;\r\n\r\nWe must note that the FED report via the FOMC on December 13th, with the ECB and BOE both on the following day 14th December. I believe Friday 15th December will be the last day with anything near normal trading volumes.\r\n\r\n&nbsp;\r\n\r\nAs you know I would usually write here to look at cross rate pairs as an option. My GBP trades are POSITION style trades for the long haul and my trading activity with cross rate currency pairs that already have limited liquidity will; be severely curtailed from now on given the reduced volumes ahead. The RISK of getting stuck with an increased volatile pair with reduced trading volumes is just not worth it in my opinion, no matter how much of a volatility junkie you may be.\r\n\r\n&nbsp;\r\n\r\nFinally, as we enter a period, when the USD should be demonstrating increased strength through the passing of the TAX BILL, but more importantly Central Bank divergence, as Yellen will probably raise U.S. interest rates on December 13th,\r\n\r\nWould it not seem common sense to maybe hold an emerging market cross? Maybe take a look at USD/ZAR, USD/TRY or USD/MXN.\r\n\r\n&nbsp;\r\n\r\nThe bottom line is to try to be cute. It is you versus the big banks.\r\n\r\n&nbsp;\r\n\r\nFLYNN: It is a RISK OFF event in my opinion. I need to see reaction on Monday this week to get a better picture. On Friday, last week when the news broke it was like watching headless chickens running around a farmyard. Kushner was linked which may have helped the markets steady. But who knows? The DXY was slammed on Friday following the news breaking, but like the markets pared back after a while (see below).\r\n\r\n&nbsp;\r\n\r\n(INSERT DAILY DXY CHART)\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n<ol start=\"3\">\r\n 	<li><strong> THE PREMIUM SERVICE:</strong></li>\r\n</ol>\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\nThe PREMIUM SERVICE is my own subscriber based Forex support service that offers subscribers my suggested trade set-ups and market commentaries.\r\n\r\nFull details of the PREMIUM SERVICE and costs to subscribe plus the various trade styles and how suggested trade set-ups are communicated can be found on my website landing page at <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a> by selecting the HISTORY &amp; PERFORMANCE tab.\r\n\r\n&nbsp;\r\n\r\n<u>CURRENT 2017 PREMIUM SERVICE PERFORMANCE:</u>\r\n\r\n&nbsp;\r\n\r\nPIPS TOTAL NOVEMBER 2017:  = +2,381 pips\r\n\r\nYEAR TO DATE:                              = +12,783 pips\r\nFurther information can be found by clicking TESTIMONIALS, PART-TIME TRADERS and FX PROMOTIONS tabs on my website  <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a>\r\nAlternatively, if you prefer to watch a video recording about the PREMIUM SERVICE, click the link below. You will be directed to a 40-minute webinar presentation entitled “AN INTRODUCTION TO THE PREMIUM SERVICE”.\r\n\r\n&nbsp;\r\n\r\n<a href=\"http://screencasts.weeklyfxdrivethru.com/watch/cb6fqiIAZX\">http://screencasts.weeklyfxdrivethru.com/watch/cb6fqiIAZX</a>\r\n\r\nTo subscribe to THE PREMIUM SERVICE, you will require a valid credit card.\r\n\r\n<u> </u>\r\n<ol start=\"4\">\r\n 	<li><strong> PREMIUM SERVICE SUBSCRIBERS ONLY:</strong></li>\r\n</ol>\r\n(Only SUBSCRIBERS to the PREMIUM SERVICE can view this section of the BLOG)\r\n\r\n<strong> </strong>\r\n\r\n<u>4:1. TRADING REVIEW:</u>\r\nWell November was the second-best pip performing month in 2017. I am carrying forward about 600 pips of negative trades plus an additional negative 700 pips of USD/CAD HEDGED trades into December. Therefore, the chances of a 2016 beat vis-à-vis pip performance looks unlikely.\r\n\r\n&nbsp;\r\n\r\nThe net pip total for November was 2,381 pips\r\n\r\nYear to date = 12,783 pips\r\n\r\n&nbsp;\r\n\r\nRatios of profit / loss trades are above 75% / 25% remaining in line, but my income this year will be lower than last year and lower than 2015.\r\n\r\n&nbsp;\r\n\r\nI have had to change my style and approach to trading to accommodate the market swings which have virtually made trading in 2017 unrecognizable from 2015.\r\n\r\n&nbsp;\r\n\r\nThe increasing reliance on automated trades via algorithms has brought a new dynamic to FX. Some of these algorithms are “STOP HUNTERS” and this creates a different type of trading environment in which to operate. In my opinion, to achieve a trading longevity in these markets we must trade smaller with wider stops and accept that maybe earnings will be a little lower. I really think that the days of looking for 50 pips of profit on a trade with a 30-pip stop are well behind us now. In fact, I think 50 pip stops are pointless most of the time.  I am still of the opinion that Fibonacci levels, pivot points and previous interest levels are the paramount key in conjunction with some chart patterns.\r\n\r\n&nbsp;\r\n\r\nAt the end of the day though, it’s still all about RISK MANAGEMENT. Whichever way you slice it, you still need to trade position sizes in line with your broker account balance.\r\n\r\n&nbsp;\r\n\r\nFollowing on from comments last week, I am revising my POSITION SIZING chart and introducing a new trade style called MOMENTUM TRADES.\r\n\r\n&nbsp;\r\n\r\nOne aspect of trading smaller positions with wider stops that cannot be ignored is that drawdowns can be larger especially with my POSITION trades which, can be based off MONTHLY ATR levels.\r\n\r\n&nbsp;\r\n\r\nMOMENTUM trades will be a little riskier as they are based off MOMENTUM moves that are NOT confirmed. They will however have tighter stops which will reduce drawdown levels. With almost 50% of my trades (47.5%) now being POSITION trades it’s time to review and adjust again.\r\n\r\n&nbsp;\r\n\r\nI have almost completed a revision of my TRADE STYLE DEFINITIONS and redefined existing styles to increase clarity for next year. This should be on the website soon, along with the new POSITION SIZING spreadsheet. I will email copies as well.\r\n\r\n&nbsp;\r\n\r\nI am undecided on the re-introduction of the weekly webinar. I cannot find a suitable vehicle that is iMac compatible. I will keep looking.\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n<u>\r\n</u><u>4:2. SENTIMENT CHART,</u><u> FUNDAMENTAL &amp; MACRO THOUGHTS</u><u>:\r\n\r\n</u>\r\n\r\nLast Friday was a strange day, there was the US TAX BILL shenanigans, BREXIT confusion and mis-quotes coming back and forth from North Korea. The DAILY candles were strange based upon what one would have thought to have seen via continuation moves off the close of the November monthly candles.\r\n\r\n&nbsp;\r\n\r\nSentiment however was disrupted last Friday on the back of the Michael Flynn news. Prior to the bombshell breaking I was in the camp that USD should remain positive moving towards the year end based off the FED rate hike due on the 13th December. Initially we saw a massive drop in the DXY, but then we had the usual “BUY THE DIP” mentality set in.\r\n\r\n&nbsp;\r\n\r\nMoving forward, my thoughts are based around long GBP trades. I spent a good few hours putting together potential GBP related ARMAGEDDON trades. These look redundant now. I will NOT be rushing in to participate in this market, I want to see the dust settle on the Flynn fallout.\r\n\r\n&nbsp;\r\n\r\nI will be running down trades and RISK EXPOSURE into the holidays and as mentioned already, the last day of reasonable volume I expect to be on Friday 15th December after the FOMC, ECB and BOE are out of the way. Of course, I am ignoring BREXIT and other geopolitical news events that could happen.\r\n\r\n&nbsp;\r\n\r\nLooking at the sentiment chart, sentiment is still mixed.\r\n\r\n&nbsp;\r\n\r\n(INSERT MARKET SENTIMENT CHART)\r\n\r\n&nbsp;\r\n\r\n<u>\r\n\r\n</u>\r\n\r\n<u>4:3. TRADING PLANS:</u>\r\n\r\n<u> </u>\r\n\r\n<u> </u>\r\n\r\n<u>4:3.1. TRADING PLAN OVERVIEW THIS WEEK:</u>\r\n\r\n&nbsp;\r\n\r\nMy action plan for the week is: -\r\n\r\n&nbsp;\r\n<ol>\r\n 	<li>USD sentiment is still all over the place. Flynn revelations have not helped. I think it should be treated as RISK OFF but I need to wait, see and evaluate. Therefore, I will stay away as much as possible from the majors.</li>\r\n 	<li>Plan GBP long trades. There are some nice pullbacks from Friday last week that should offer some nice levels. Again, I need to evaluate, digest and absorb the Flynn fallout.</li>\r\n 	<li>CAD HEDGES. I am looking for my entry at 1.2980 to trigger. I just can’t see that this week, anything close to 1.2900 I will see as a gift. I am annoyed via hindsight that I did not short at 1.2910. I need to see what Poloz says this Wednesday and then decide. I will have an either/or plan in place prior to the BOC.</li>\r\n</ol>\r\n<u> </u>\r\n\r\n<u> </u>\r\n\r\n<u>4:3.2.  EXISTING CORE TRADES (PLANS &amp; STRATEGIES):</u>\r\n\r\nI am STILL bearish the CAD, AUD and NZD currencies. I am now bullish cable!\r\n\r\n&nbsp;\r\n\r\nThe Flynn revelations turned the markets upside down last Friday and the uncertainties that this brings with it need to be absorbed and digested.\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n<strong><u>THE CAD:</u></strong>\r\nCurrently, I am live the following: -\r\n\r\n&nbsp;\r\n\r\n3 x live short USD/CAD trades. All three are HEDGED. No OUT trades are placed yet.\r\n\r\n&nbsp;\r\n\r\n<u>MY PLAN:</u>  - My belief is still that the USD/CAD is a short trade. I am waiting for 1.2910-1.2980 to establish 3 x “OUT” trades for my HEDGED trades.  I have my “OUT” trade LIMIT ORDERS in place at 1.2980. Be prepared, I could be waiting several weeks here until the market conditions are right.\r\n\r\n&nbsp;\r\n\r\nI have no plans currently to place / related trades against other pairs.\r\n\r\n<strong><u> </u></strong>\r\n\r\n<strong><u> </u></strong>\r\n\r\n<strong><u>THE NZD</u></strong>:\r\n\r\n&nbsp;\r\n\r\nCurrently I have 4 x live long AUD/NZD trades, and a NZD/USD short trade in play.\r\n\r\n&nbsp;\r\n\r\nPlus: - I have 4 more AUD/NZD long trades in position, plus, a NZD/JPY and a further NZD/USD short trades as LIMIT ORDERS in position.\r\n\r\n&nbsp;\r\n\r\n<u>MY PLAN:</u> - I will be looking to add NZD trades across the board as soon as I see a meaningful pullback to provide beneficial pricing. After the Flynn fallout is rationalized.\r\n\r\n&nbsp;\r\n\r\n<strong><u>THE AUD:</u></strong>\r\n\r\n<strong><u> </u></strong>\r\n\r\nCurrently live I have an AUD/USD short and GBP/AUD long trade in position.\r\n\r\n&nbsp;\r\n\r\nPlus: - I have an additional AUD/USD short LIMIT ORDER.\r\n\r\n&nbsp;\r\n\r\n<u>MY PLAN:</u> - To add back trades across the board at the start of this coming week that I removed at the end of last week.\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n<strong><u>THE GBP:</u></strong>\r\n\r\n<strong><u> </u></strong>\r\n\r\nCurrently I have a EUR/GBP short and GBP/AUD and GBP/JPY long trades in play.\r\n\r\n<strong><u> </u></strong>\r\n\r\n<u>MY PLAN</u>: - Is to add additional cable cross rate pairs, GBP/NZD and staged “Buy Stop” entries across several pairs.\r\n\r\n&nbsp;\r\n\r\nI do want to see the dust settle first after the volatility of last Friday first. I am NOT in any rush to participate.\r\n\r\n<strong><u> </u></strong>\r\n\r\n<strong><u> </u></strong>\r\n\r\n<u> </u>\r\n\r\n<u>4:4. CURRENT LIVE TRADES &amp; LIMIT ORDERS:</u>\r\n\r\n<u>\r\n\r\n</u>\r\n\r\nCURRENT LIVE TRADES:\r\n\r\n\r\nCURRENT LIMIT ORDER TRADES:\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n<u>4:5. FX BROKER NEWS with their MARKET FEEDBACK:</u>\r\n\r\n&nbsp;\r\n\r\nYou may have seen examples similar to these (see below) over the past few weeks.\r\n\r\n&nbsp;\r\n\r\nSo, the brokers intentions are clear. BONUS $$$ and FREE WEBINARS. Be very careful on the offers there are NO free lunches in FX.\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n(INSERT HANTEC MARKETS &amp; AVA TRADE ADVERTS)\r\n\r\n<strong> </strong>\r\n\r\n<strong> </strong>\r\n<ol start=\"5\">\r\n 	<li><strong> THE FINAL SHOTS:</strong></li>\r\n</ol>\r\n<strong> </strong>\r\n\r\n<u>WANT A FREE PREMIUM SERVICE SUBSCRIPTION:</u>\r\n\r\n<strong> </strong>\r\n\r\nIf you like what you have read in this blog and would like the chance to win a FREE SUBSCRIPTION valued at CAD$150.00, all you need to do is subscribe to my FREE NEWSLETTER (this blog), by adding your email address on my welcome page just below my cube logo at <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a>\r\n<u> </u>\r\n\r\n<u>PREMIUM SERVICE SUBSCRIPTIONS:</u>\r\n\r\n<u> </u>\r\n\r\nIf you like what you’ve read in this blog and should you want to go a stage further and subscribe to the PREMIUM SERVICE, this can be done on my website <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a> under the Tab SUBSCRIBE HERE.\r\n\r\n&nbsp;\r\n\r\nSubscribing to the PREMIUM SERVICE is not just about receiving a larger “DRIVE THRU” blog packed with more trading supporting information, my thoughts and ideas. There is much more to a subscription than those things. Check it all out under the tab HISTORY &amp; PERFORMANCE on my website <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a>\r\n\r\n&nbsp;\r\n\r\nAlternatively, if you prefer to watch a video recording about the PREMIUM SERVICE, click the link below. You will be directed to a 40-minute webinar presentation entitled “AN INTRODUCTION TO THE PREMIUM SERVICE”.\r\n\r\n&nbsp;\r\n\r\n<a href=\"http://screencasts.weeklyfxdrivethru.com/watch/cb6fqiIAZX\">http://screencasts.weeklyfxdrivethru.com/watch/cb6fqiIAZX</a>\r\n\r\nTo subscribe to THE PREMIUM SERVICE, you will require a valid credit card.\r\n<u> </u>\r\n\r\n<u>CLOSING THOUGHTS:</u>\r\n\r\n<strong> </strong>\r\n\r\nNothing more to add here, I have said enough except,\r\n\r\n&nbsp;\r\n\r\nAs usual…\r\n\r\n&nbsp;\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\n\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: #157 PREMIUM SERVICE\r\n3rd December 2017\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n&nbsp;', 'NO MATTER WHAT… U.S. TRADERS BUY THE DIP', '', 'inherit', 'closed', 'closed', '', '10488-revision-v1', '', '', '2017-12-02 13:00:05', '2017-12-02 18:00:05', '', 10488, 'https://weeklyfxdrivethru.com/10488-revision-v1/', 0, 'revision', '', 0);
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(10490, 1, '2017-12-02 13:02:40', '2017-12-02 18:02:40', '&nbsp;\r\n<ol>\r\n 	<li><strong>THE FIRST FEW SHOTS:</strong></li>\r\n</ol>\r\nWelcome.\r\n\r\nWhenever I type December I am already thinking about Christmas, New Year and not being too anal but next year’s trading plans.\r\n\r\nWith regards to my FX trading next year and my plans with the PREMIUM SERVICE, I will announce them on a “drip feed” basis in the “DRIVE THRU” blogs between now and the final one of 2017 due out on 17th December.\r\n\r\nSo, with my own version of the countdown just two more “DRIVE THRU’s” until Christmas after this one!!\r\n\r\nI have had feedback to the recent changes with the DRIVE THRU blog format. I would like to thank those who commented about the changes, there were some positives and some negatives to the new structure.\r\n<ul>\r\n 	<li>Some miss “THE SOAPBOX” - some don\'t because it’s NOT directly currency related.</li>\r\n 	<li>Some want more charts. These are reserved for PREMIUM SERVICE subscribers throughout the trading week, sorry.</li>\r\n 	<li>Some want both - more charts and more SOAPBOX!!</li>\r\n 	<li>How to trade the week favourably received</li>\r\n</ul>\r\nThe blog takes me about 6-8 hours in total to write, compile and post. My wife, spell checks, grammar checks and signs off that I am NOT being too extreme. Then it has to be broken into the different formats for the various social media releases, update and post the WordPress versions and post the manual versions onto various Social Media formats. My goal is to reduce the time spent on production but have it just as focused but at the same time away from the usual FX reviews. I am a strong believer in differentiation.\r\n\r\nMoving on…\r\n\r\nPlease keep the feedback coming I love it and if you picked the DRIVE THRU blog up via TWITTER and you like my style and/or approach please feel free to re-tweet it!\r\n\r\nRemember you can always subscribe to the PREMIUM SERVICE to get more of my approach on a daily basis and at the same time get some help on making pips. My target for 2018 is 10,000 net pips…. I dare you!!\r\n\r\nNext…\r\n\r\nI enter December with 19 x LIVE TRADES and 14 x LIMIT ORDERS in position raring to go. Normally I would say, as we approach the end of the year it is time to slowly pullback and reduce RISK into the year end…. yeah right!\r\n\r\nAs soon as I plan something like this, opportunities come leaping out at me. It’s all about life choices and the FUNDAMENTALS, so for PREMIUM SERVICE subscribers please note it is very highly likely circa. 99.9% that there will be trading through the Christmas holidays, I just cannot see how it will not happen at this precise moment in time. So; get prepared for, paper hats on, turkey drumstick in hand and Jack Daniels by the side of the keyboard trading coming to a screen near you!\r\n\r\nEnough of that…\r\n\r\nMy sampling of my competition continues. Here is the best from this week’s experiences.\r\n\r\nHow to start this is difficult. I was trying to keep an open mind but pick me up off the floor!!\r\n\r\nI do despair sometimes. I know that I am NOT perfect and sometimes I can be off the wall son occasion with trades, but FFS, I have heard it all now.\r\n\r\nPlanets in alignment to move markets.\r\n\r\nIt’s not a question of Venus and Saturn, there has to be joke in here about Uranus.\r\n\r\nHMOG, you may as well place biscuits over potential trade set ups on paper, place them on the floor and let my Labrador boy, Ozzy eat them. The trade under the biscuit he picks first is the set up to trade!\r\n\r\nTalk about bollocks.\r\n\r\nMoving on…\r\n\r\nTHE PREMIUM SERVICE had another great month in November, and it is now only 272 pips behind last year’s record total at this stage of the year.\r\n\r\nNOVEMBER 2017 net TOTAL: 2,381 net pips\r\n2017 YEAR TO DATE: 12,783 net pips\r\n\r\nI do have a few trades hanging around with losses that I have carried forward into December. Most notable is a HEDGED 700 pip USD/CAD 3 separate trades position. The rest are small fry. So that contingent liability will have to be taken into consideration. The bottom line is however that I should remain (all things being equal) above my 10,000 pips per annum objective.\r\n\r\nMore details of the November performance can be found under the HISTORY &amp; PERFORMANCE tab on my welcome page.\r\n\r\nStaying in sales mode; now is a great time to join the PREMIUM SERVICE and be familiar and ready to go with the 2018 launch!!\r\n\r\nFinally, …\r\n\r\nIs anyone as sick of pigging BITCOIN as I am, my SPAM folders are full of it, for the remainder of 2017 there will be no mentions of fecking BITCOIN or crypto currencies in this blog. I don’t trade it, I am at the moment not interested in it, it is just a distraction to look at the charts and whilst I am sure it will remain around for some time, at the moment, I only have two words to say about BITCOIN… me arse!\r\n\r\nI did find this gem on twitter this week however…\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/BITCOIN-TWEET-03122017.png\"><img class=\"aligncenter size-large wp-image-10473\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/BITCOIN-TWEET-03122017-1024x466.png\" alt=\"\" width=\"1024\" height=\"466\" /></a>\r\n\r\n&nbsp;\r\n\r\n<strong> </strong>\r\n<ol start=\"2\">\r\n 	<li><strong>THE FX MARKET PLACE THIS WEE</strong></li>\r\n</ol>\r\n<u>\r\nTHIS WEEK’S ECONOMIC DATA RELEASES:</u>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/ECON-DATA-03122017.png\"><img class=\"aligncenter size-large wp-image-10478\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/ECON-DATA-03122017-1024x989.png\" alt=\"\" width=\"1024\" height=\"989\" /></a>\r\n\r\n&nbsp;\r\n\r\n<u>MY THOUGHTS ON THIS WEEK’S ECONOMIC DATA:</u>\r\n\r\nThere is swoop of data this week. It will be challenging to say the least. There is a great deal of Tier one data that should influence FX moves through to the year end.\r\n\r\nI think we have a pretty good understanding that the FED will raise come hell or high water, in fact “Hell” could freeze over but I still think Yellen will raise rates regardless.\r\n\r\nIn addition, of course we will continue to watch and listen to the fallout from the ex. TRUMP advisor Mike Flynn news that he will testify against the President of The United States. Having said that the “BUY THE FECKIN’ DIP” mentality even stands true when a possible impeachment case is on the horizon. After the Flynn revelations settled in and the Kushner links also came through, the markets then pared losses. No matter what the news, BUY THE DIP seems to always be the strategy in the U.S.\r\n\r\nIn no particular order: -\r\n\r\n<strong><u>AUD:</u></strong><u> CURRENT ACCOUNT, RETAIL SALES, RBA, GDP &amp; TRADE BALANCE</u>.\r\n\r\nJM&amp;J, this is what you call a “Clatter” of data. It’s all good stuff and highly directional.\r\n\r\nThe AUD has been under pressure to the downside of late. RBA policy via Governor Philip Lowe has been “Status Quo” policy neutral. The housing situation in Sydney causes huge concerns and Philip Lowe has made it clear he is no rush to raise rates but he has stated recently that the next direction of AUD rates will be higher.\r\n\r\nI rate Philip Lowe, I think he’s a thinker. I do NOT think he will want to rock any boats this week even if he has insider knowledge of any of the data numbers due to be released.\r\n\r\nRetail Sales will be a biggie. Last time around it was a 0%. If it does not post a positive number in the run up to Christmas, it never will. This is a key release in my opinion. The Current Account and Trade Balance are important but maybe not as relevant into the year-end. Like many things in December its pushed into the next Calendar year.\r\n\r\nGDP is as important as Retail Sales albeit it\'s a backward-looking number. Last quarter it was 0.8%, a minimum of a beat will be required.\r\n\r\nTrading the AUD will be awkward this week, with so much data. I enter with a lot of AUD short and long trades… so the PREMIUM SERVICE is HEDGED!!\r\n\r\n<strong><u>\r\nUSD:</u></strong><u> JOBS DATA.</u>\r\n\r\nRecently there has been no correlation between the private sector and public-sector jobs data. So, DO NOT trust that the ADP numbers will be an indication of NFP due Friday this week.\r\n\r\nThese numbers are always watched and noted, but in relation to FED policy and the FOMC interest rate decision due later this month, they are not as important in my eyes. I WILL NOT be trading NFP. I will watch and be a trading voyeur but as I have stated many, many times you more often than not have more luck with a national lottery than you do with trading FX on NFP day.\r\n\r\nAs for the numbers, as long as the 6 month averages are maintained I cannot see how the markets could be disappointed. There should be a chunk of part-time given the time of the year and this will create chaos and disorder for the initial knee-jerk reactions but when it’s all said and done its all about wage growth to show inflation. So, the Average Hourly Earnings with the NFP data on Friday will be key.\r\n\r\nI may have to hide my keyboard or take either Ozzy or Aoife for a walk as a distraction as I DO NOT want to trade NFP…. See you Friday then!\r\n\r\n&nbsp;\r\n\r\n<strong><u>CAD:</u></strong><u> TRADE BALANCE &amp; BOC.</u>\r\n\r\nI have two wives at the moment. My physical one and the other one is the USD/CAD. At times, I feel like I am married to three HEDGED TRADES as well. My losses are fixed at 700 pips while I wait to enter my “HEDGE OUT” trades to trigger.\r\n\r\nThe GDP and Jobs Data last Friday was a real pain in the arse, a nice little pre-data spike could have triggered my short trades. I am now I think probably waiting on this week’s data to hopefully get my entry price!\r\n\r\nWith regards to the data.\r\n\r\nThe TRADE BALANCE must move back towards positive and below CAD$3 Billion. It was April when it was last below CAD$2 Billion. It has a history of failing to meet forecasts.\r\n\r\nStephen Poloz has been a downbeat gloomy little fecker of late and it’s about time he had a spiked egg nog to cheer him up.\r\n\r\nWith the FED raising in December, there will be some pressure to follow suit. I just cannot see it this week. However, Poloz likes to surprise. One cannot rule it out. I would personally be astonished and would expect the next hike in Q1 2018.\r\n\r\nI do however think he will be a little more upbeat on the CAD economy, he should be with last week’s data and also with the run up to the year end and the Christmas holidays.\r\n\r\n&nbsp;\r\n\r\n<u>USD MAJORS – SUPPORT &amp; RESISTANCE LEVELS with BIAS:</u>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/TCHART-03122017.png\"><img class=\"aligncenter size-full wp-image-10479\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/TCHART-03122017.png\" alt=\"\" width=\"1016\" height=\"888\" /></a>\r\n\r\n&nbsp;\r\n\r\n<u>USD – TRADING CHARTS: </u>\r\n\r\nMore often than not I will use DAILY CHARTS for my analysis. My commentary and thoughts for each trading pair are above the charts.\r\n\r\n<strong>\r\n<u>EUR/USD:</u>\r\n</strong>\r\nNot much of a change in my thoughts or the chart that sits below. I think that I may have changed the colours of the lines that\'s about it!\r\n\r\nGREEN LINE = support at 1.1817\r\nPURPLE LINE = my bull / bear line at 1.1880\r\nDARK RED = resistance at 1.1960\r\nBLUE LINE = recent highs at 1.2090\r\n\r\nThe upward channel remains pretty much intact. We have been in a range of 1.1817 to 1.1960 in the past week.\r\n\r\nWe need to obviously break above or below to get this pair moving along. I have this feeling that now we are in December it will take either NFP this week or the ECB the week following to get things moving and give us a direction to follow.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/EURUSD-D-03122017.png\"><img class=\"aligncenter size-large wp-image-10482\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/EURUSD-D-03122017-1024x410.png\" alt=\"\" width=\"1024\" height=\"410\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n<strong><u>GBP/USD:</u></strong>\r\n\r\nI had been writing all week about the 1.3450 level being broken and creating a short squeeze.\r\n\r\nThe chart below, shows a possible “CUP &amp; HANDLE” pattern being formed with a measured move to 1.3900.\r\n\r\nWe must always temper the enthusiasm vis-à-vis the cable as it is always a news release away from a BREXIT announcement that can send it 100 pips lower or 100 pips higher. At the moment, there is a huge belief and more importantly a commitment to see serious progress acknowledged prior to the end of the year. This has me leaning more to the long side.\r\n\r\nThe 76.4% Fibonacci level that sits at 1.3508 is a key level. This pair was obviously spooked on the Flynn news last Friday. A break above this level should see the pair move towards a possible 1.4000 target beyond the CUP &amp; HANDLE pattern, at the golden Fib. level of 161.8%.\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/GBPUSD-D-03122017.png\"><img class=\"aligncenter size-large wp-image-10483\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/GBPUSD-D-03122017-1024x410.png\" alt=\"\" width=\"1024\" height=\"410\" /></a>\r\n\r\n&nbsp;\r\n\r\n<strong><u>AUD/USD:</u></strong>\r\n\r\nThe down channel remains intact albeit it was temporarily broken on the Flynn news. I am still bearish this pair and see 1.7640 as a great level to short from but even with the Flynn revelations this level failed to be achieved.\r\n\r\nWe are in a tight trading range between the PURPLE lines on the chart 0.7530 to 0.7640.\r\n\r\nThe RBA meets this week. I am not expecting any change in policy and I expect Philip Lowe to release a statement that is once again neutral.\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/AUDUSD-D-03122017.png\"><img class=\"aligncenter size-large wp-image-10481\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/AUDUSD-D-03122017-1024x410.png\" alt=\"\" width=\"1024\" height=\"410\" /></a>\r\n\r\n&nbsp;\r\n\r\n<strong><u>NZD/USD:\r\n</u></strong>\r\nWe have a bullish engulfing candle from last Friday. This usually means that a move higher should continue to be seen. Of late, these candles have NOT produced the follow through that is usually seen.\r\n\r\nWe are range bound between the two PURPLE lines of 0.6780 and 0.6980.\r\n\r\nTechnically, I think that this move higher just gives us a better price to short from as politically New Zealand has issues to overcome and whilst this uncertainty remains in place the pressure to the downside will always prevail.\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/NZDUSD-D-03122017.png\"><img class=\"aligncenter size-large wp-image-10484\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/NZDUSD-D-03122017-1024x410.png\" alt=\"\" width=\"1024\" height=\"410\" /></a>\r\n\r\n&nbsp;\r\n\r\n<strong><u>USD/CAD:</u></strong><strong>\r\n</strong>\r\nBugger…\r\n\r\nI really wanted to be short this pair, but I was looking for a level closer to the 200 DAY SMA and the 61.8% Fibonacci retracement level.\r\n\r\nThat is a “helluva” BIG RED candle on the chart. Usually BIG RED candles are followed by further BIG RED candles.\r\n\r\nThe trading range is 1.2660 to 1.2915.\r\n\r\nWe have the BOC this week, I just can’t see Poloz being dovish. I see him more positive than of late and this may send the USD/CAD lower. Ideally from my point of view I want him to dismiss last Friday’s data as “Mickey Mouse:” and send the USD/CAD back to 1.3000. I just can’t envisage that happening.\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/USDCAD-D-03122017.png\"><img class=\"aligncenter size-large wp-image-10485\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/USDCAD-D-03122017-1024x410.png\" alt=\"\" width=\"1024\" height=\"410\" /></a>\r\n\r\n&nbsp;\r\n\r\n<strong><u>USD/CHF:</u></strong><strong>\r\n</strong>\r\nI am still dreaming of bull flags and pennants with this pair. The measured move is to 1.0350, which by interest is a previous level of resistance from last year.\r\n\r\nIf 0.9700 gives way on the back of the flight to safety move which has affected this pair following the “FLYNN” revelations, we could see a move back to the recent lows around 0.9400.\r\n\r\nBe ready for a snap back move with this pair its correlation with its inverse relationship with the EUR/USD is out of sync. But make no mistake, on uncertainty the flight to buy GOLD also affects the CHF.\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n<strong><u>USD/JPY:</u></strong><u>\r\n</u>\r\nThis pair was hit hard with the “FLYNN” news.\r\n\r\n&nbsp;\r\n\r\nOn Friday that is almost a 160-pip candle from 111.40 to 113.00. Quite a move for this pair. I think that the trading range to work with is 110.80 to 113.00.  This pair will be affected the most as equities and bonds fly around on the news headlines as they are released.\r\n\r\n&nbsp;\r\n\r\nIt goes without saying, do not get too heavy in a position size as when the market is headline driven moves can whip around very quickly.\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n(INSERT USD/JPY CHART)\r\n\r\n<u> </u>\r\n\r\n<u> </u>\r\n\r\n<u> </u>\r\n\r\n<u>MY THOUGHTS ON HOW TO PLAY FX THIS WEEK:</u>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\nWe are now in December. This is historically, a strange month, Christmas parties, sexual harassment claims, lawyers will be on 24x7 call outs, and from a trading perspective volatility tends to thin out as the market becomes less liquid.\r\n\r\n&nbsp;\r\n\r\nWe do have a few interesting snippets however to keep traders at their desks. The GREED factor will certainly come into play with the institutions and for us, the poor retail traders we have to be savvy and selective.\r\n\r\n&nbsp;\r\n\r\nNews items that are driving the markets have been based around the US TAX BILL, BREXIT and on Friday last week ex. TRUMP National Security advisor, Mike Flynn announced that he will testify against the President. BREXIT will play on for the next two years, but this month it is crucial for UK Prime Minister, Theresa May to see acknowledged progress has been made. My focus this week is GBP related.\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n(INSERT GBP MONTHLY CHART)\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\nYou can see from the above Monthly GBP/USD chart that we are breaking out above a multi-year trend line (from August 2104).\r\n\r\nThis is big news if the push higher can be maintained and it should have a knock-on effect through all cable related pairs.\r\n\r\n&nbsp;\r\n\r\nOne other fact to note from the GBP/USD chart is to take a look at the November monthly candle. It is very, very bullish. In fact, when you look at the moves from the August 2016 lows the monthly candle pattern is trending nicely higher.\r\n\r\n&nbsp;\r\n\r\nThe PREMIUM SERVICE is currently trading EUR/GBP, GBP/AUD and GBP/JPY. I am as I have stated several times of late not 100% happy trading the USD at the moment and my focus is more away from the majors into the cross rates.\r\n\r\n&nbsp;\r\n\r\nCable will be my main focus this week along with the CAD (to initiate my “HEDGE OUT” trades).\r\n\r\n&nbsp;\r\n\r\nWe must note that the FED report via the FOMC on December 13th, with the ECB and BOE both on the following day 14th December. I believe Friday 15th December will be the last day with anything near normal trading volumes.\r\n\r\n&nbsp;\r\n\r\nAs you know I would usually write here to look at cross rate pairs as an option. My GBP trades are POSITION style trades for the long haul and my trading activity with cross rate currency pairs that already have limited liquidity will; be severely curtailed from now on given the reduced volumes ahead. The RISK of getting stuck with an increased volatile pair with reduced trading volumes is just not worth it in my opinion, no matter how much of a volatility junkie you may be.\r\n\r\n&nbsp;\r\n\r\nFinally, as we enter a period, when the USD should be demonstrating increased strength through the passing of the TAX BILL, but more importantly Central Bank divergence, as Yellen will probably raise U.S. interest rates on December 13th,\r\n\r\nWould it not seem common sense to maybe hold an emerging market cross? Maybe take a look at USD/ZAR, USD/TRY or USD/MXN.\r\n\r\n&nbsp;\r\n\r\nThe bottom line is to try to be cute. It is you versus the big banks.\r\n\r\n&nbsp;\r\n\r\nFLYNN: It is a RISK OFF event in my opinion. I need to see reaction on Monday this week to get a better picture. On Friday, last week when the news broke it was like watching headless chickens running around a farmyard. Kushner was linked which may have helped the markets steady. But who knows? The DXY was slammed on Friday following the news breaking, but like the markets pared back after a while (see below).\r\n\r\n&nbsp;\r\n\r\n(INSERT DAILY DXY CHART)\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n<ol start=\"3\">\r\n 	<li><strong> THE PREMIUM SERVICE:</strong></li>\r\n</ol>\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\nThe PREMIUM SERVICE is my own subscriber based Forex support service that offers subscribers my suggested trade set-ups and market commentaries.\r\n\r\nFull details of the PREMIUM SERVICE and costs to subscribe plus the various trade styles and how suggested trade set-ups are communicated can be found on my website landing page at <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a> by selecting the HISTORY &amp; PERFORMANCE tab.\r\n\r\n&nbsp;\r\n\r\n<u>CURRENT 2017 PREMIUM SERVICE PERFORMANCE:</u>\r\n\r\n&nbsp;\r\n\r\nPIPS TOTAL NOVEMBER 2017:  = +2,381 pips\r\n\r\nYEAR TO DATE:                              = +12,783 pips\r\nFurther information can be found by clicking TESTIMONIALS, PART-TIME TRADERS and FX PROMOTIONS tabs on my website  <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a>\r\nAlternatively, if you prefer to watch a video recording about the PREMIUM SERVICE, click the link below. You will be directed to a 40-minute webinar presentation entitled “AN INTRODUCTION TO THE PREMIUM SERVICE”.\r\n\r\n&nbsp;\r\n\r\n<a href=\"http://screencasts.weeklyfxdrivethru.com/watch/cb6fqiIAZX\">http://screencasts.weeklyfxdrivethru.com/watch/cb6fqiIAZX</a>\r\n\r\nTo subscribe to THE PREMIUM SERVICE, you will require a valid credit card.\r\n\r\n<u> </u>\r\n<ol start=\"4\">\r\n 	<li><strong> PREMIUM SERVICE SUBSCRIBERS ONLY:</strong></li>\r\n</ol>\r\n(Only SUBSCRIBERS to the PREMIUM SERVICE can view this section of the BLOG)\r\n\r\n<strong> </strong>\r\n\r\n<u>4:1. TRADING REVIEW:</u>\r\nWell November was the second-best pip performing month in 2017. I am carrying forward about 600 pips of negative trades plus an additional negative 700 pips of USD/CAD HEDGED trades into December. Therefore, the chances of a 2016 beat vis-à-vis pip performance looks unlikely.\r\n\r\n&nbsp;\r\n\r\nThe net pip total for November was 2,381 pips\r\n\r\nYear to date = 12,783 pips\r\n\r\n&nbsp;\r\n\r\nRatios of profit / loss trades are above 75% / 25% remaining in line, but my income this year will be lower than last year and lower than 2015.\r\n\r\n&nbsp;\r\n\r\nI have had to change my style and approach to trading to accommodate the market swings which have virtually made trading in 2017 unrecognizable from 2015.\r\n\r\n&nbsp;\r\n\r\nThe increasing reliance on automated trades via algorithms has brought a new dynamic to FX. Some of these algorithms are “STOP HUNTERS” and this creates a different type of trading environment in which to operate. In my opinion, to achieve a trading longevity in these markets we must trade smaller with wider stops and accept that maybe earnings will be a little lower. I really think that the days of looking for 50 pips of profit on a trade with a 30-pip stop are well behind us now. In fact, I think 50 pip stops are pointless most of the time.  I am still of the opinion that Fibonacci levels, pivot points and previous interest levels are the paramount key in conjunction with some chart patterns.\r\n\r\n&nbsp;\r\n\r\nAt the end of the day though, it’s still all about RISK MANAGEMENT. Whichever way you slice it, you still need to trade position sizes in line with your broker account balance.\r\n\r\n&nbsp;\r\n\r\nFollowing on from comments last week, I am revising my POSITION SIZING chart and introducing a new trade style called MOMENTUM TRADES.\r\n\r\n&nbsp;\r\n\r\nOne aspect of trading smaller positions with wider stops that cannot be ignored is that drawdowns can be larger especially with my POSITION trades which, can be based off MONTHLY ATR levels.\r\n\r\n&nbsp;\r\n\r\nMOMENTUM trades will be a little riskier as they are based off MOMENTUM moves that are NOT confirmed. They will however have tighter stops which will reduce drawdown levels. With almost 50% of my trades (47.5%) now being POSITION trades it’s time to review and adjust again.\r\n\r\n&nbsp;\r\n\r\nI have almost completed a revision of my TRADE STYLE DEFINITIONS and redefined existing styles to increase clarity for next year. This should be on the website soon, along with the new POSITION SIZING spreadsheet. I will email copies as well.\r\n\r\n&nbsp;\r\n\r\nI am undecided on the re-introduction of the weekly webinar. I cannot find a suitable vehicle that is iMac compatible. I will keep looking.\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n<u>\r\n</u><u>4:2. SENTIMENT CHART,</u><u> FUNDAMENTAL &amp; MACRO THOUGHTS</u><u>:</u>\r\n\r\n&nbsp;\r\n\r\nLast Friday was a strange day, there was the US TAX BILL shenanigans, BREXIT confusion and mis-quotes coming back and forth from North Korea. The DAILY candles were strange based upon what one would have thought to have seen via continuation moves off the close of the November monthly candles.\r\n\r\n&nbsp;\r\n\r\nSentiment however was disrupted last Friday on the back of the Michael Flynn news. Prior to the bombshell breaking I was in the camp that USD should remain positive moving towards the year end based off the FED rate hike due on the 13th December. Initially we saw a massive drop in the DXY, but then we had the usual “BUY THE DIP” mentality set in.\r\n\r\n&nbsp;\r\n\r\nMoving forward, my thoughts are based around long GBP trades. I spent a good few hours putting together potential GBP related ARMAGEDDON trades. These look redundant now. I will NOT be rushing in to participate in this market, I want to see the dust settle on the Flynn fallout.\r\n\r\n&nbsp;\r\n\r\nI will be running down trades and RISK EXPOSURE into the holidays and as mentioned already, the last day of reasonable volume I expect to be on Friday 15th December after the FOMC, ECB and BOE are out of the way. Of course, I am ignoring BREXIT and other geopolitical news events that could happen.\r\n\r\n&nbsp;\r\n\r\nLooking at the sentiment chart, sentiment is still mixed.\r\n\r\n&nbsp;\r\n\r\n(INSERT MARKET SENTIMENT CHART)\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n<u>4:3. TRADING PLANS:</u>\r\n\r\n<u> </u>\r\n\r\n<u> </u>\r\n\r\n<u>4:3.1. TRADING PLAN OVERVIEW THIS WEEK:</u>\r\n\r\n&nbsp;\r\n\r\nMy action plan for the week is: -\r\n\r\n&nbsp;\r\n<ol>\r\n 	<li>USD sentiment is still all over the place. Flynn revelations have not helped. I think it should be treated as RISK OFF but I need to wait, see and evaluate. Therefore, I will stay away as much as possible from the majors.</li>\r\n 	<li>Plan GBP long trades. There are some nice pullbacks from Friday last week that should offer some nice levels. Again, I need to evaluate, digest and absorb the Flynn fallout.</li>\r\n 	<li>CAD HEDGES. I am looking for my entry at 1.2980 to trigger. I just can’t see that this week, anything close to 1.2900 I will see as a gift. I am annoyed via hindsight that I did not short at 1.2910. I need to see what Poloz says this Wednesday and then decide. I will have an either/or plan in place prior to the BOC.</li>\r\n</ol>\r\n<u> </u>\r\n\r\n<u> </u>\r\n\r\n<u>4:3.2.  EXISTING CORE TRADES (PLANS &amp; STRATEGIES):</u>\r\n\r\nI am STILL bearish the CAD, AUD and NZD currencies. I am now bullish cable!\r\n\r\n&nbsp;\r\n\r\nThe Flynn revelations turned the markets upside down last Friday and the uncertainties that this brings with it need to be absorbed and digested.\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n<strong><u>THE CAD:</u></strong>\r\nCurrently, I am live the following: -\r\n\r\n&nbsp;\r\n\r\n3 x live short USD/CAD trades. All three are HEDGED. No OUT trades are placed yet.\r\n\r\n&nbsp;\r\n\r\n<u>MY PLAN:</u>  - My belief is still that the USD/CAD is a short trade. I am waiting for 1.2910-1.2980 to establish 3 x “OUT” trades for my HEDGED trades.  I have my “OUT” trade LIMIT ORDERS in place at 1.2980. Be prepared, I could be waiting several weeks here until the market conditions are right.\r\n\r\n&nbsp;\r\n\r\nI have no plans currently to place / related trades against other pairs.\r\n\r\n<strong><u> </u></strong>\r\n\r\n<strong><u> </u></strong>\r\n\r\n<strong><u>THE NZD</u></strong>:\r\n\r\n&nbsp;\r\n\r\nCurrently I have 4 x live long AUD/NZD trades, and a NZD/USD short trade in play.\r\n\r\n&nbsp;\r\n\r\nPlus: - I have 4 more AUD/NZD long trades in position, plus, a NZD/JPY and a further NZD/USD short trades as LIMIT ORDERS in position.\r\n\r\n&nbsp;\r\n\r\n<u>MY PLAN:</u> - I will be looking to add NZD trades across the board as soon as I see a meaningful pullback to provide beneficial pricing. After the Flynn fallout is rationalized.\r\n\r\n&nbsp;\r\n\r\n<strong><u>THE AUD:</u></strong>\r\n\r\n<strong><u> </u></strong>\r\n\r\nCurrently live I have an AUD/USD short and GBP/AUD long trade in position.\r\n\r\n&nbsp;\r\n\r\nPlus: - I have an additional AUD/USD short LIMIT ORDER.\r\n\r\n&nbsp;\r\n\r\n<u>MY PLAN:</u> - To add back trades across the board at the start of this coming week that I removed at the end of last week.\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n<strong><u>THE GBP:</u></strong>\r\n\r\n<strong><u> </u></strong>\r\n\r\nCurrently I have a EUR/GBP short and GBP/AUD and GBP/JPY long trades in play.\r\n\r\n<strong><u> </u></strong>\r\n\r\n<u>MY PLAN</u>: - Is to add additional cable cross rate pairs, GBP/NZD and staged “Buy Stop” entries across several pairs.\r\n\r\n&nbsp;\r\n\r\nI do want to see the dust settle first after the volatility of last Friday first. I am NOT in any rush to participate.\r\n\r\n<strong><u> </u></strong>\r\n\r\n<strong><u> </u></strong>\r\n\r\n<u> </u>\r\n\r\n<u>4:4. CURRENT LIVE TRADES &amp; LIMIT ORDERS:</u>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\nCURRENT LIVE TRADES:\r\n\r\nCURRENT LIMIT ORDER TRADES:\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n<u>4:5. FX BROKER NEWS with their MARKET FEEDBACK:</u>\r\n\r\n&nbsp;\r\n\r\nYou may have seen examples similar to these (see below) over the past few weeks.\r\n\r\n&nbsp;\r\n\r\nSo, the brokers intentions are clear. BONUS $$$ and FREE WEBINARS. Be very careful on the offers there are NO free lunches in FX.\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n(INSERT HANTEC MARKETS &amp; AVA TRADE ADVERTS)\r\n\r\n<strong> </strong>\r\n\r\n<strong> </strong>\r\n<ol start=\"5\">\r\n 	<li><strong> THE FINAL SHOTS:</strong></li>\r\n</ol>\r\n<strong> </strong>\r\n\r\n<u>WANT A FREE PREMIUM SERVICE SUBSCRIPTION:</u>\r\n\r\n<strong> </strong>\r\n\r\nIf you like what you have read in this blog and would like the chance to win a FREE SUBSCRIPTION valued at CAD$150.00, all you need to do is subscribe to my FREE NEWSLETTER (this blog), by adding your email address on my welcome page just below my cube logo at <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a>\r\n<u> </u>\r\n\r\n<u>PREMIUM SERVICE SUBSCRIPTIONS:</u>\r\n\r\n<u> </u>\r\n\r\nIf you like what you’ve read in this blog and should you want to go a stage further and subscribe to the PREMIUM SERVICE, this can be done on my website <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a> under the Tab SUBSCRIBE HERE.\r\n\r\n&nbsp;\r\n\r\nSubscribing to the PREMIUM SERVICE is not just about receiving a larger “DRIVE THRU” blog packed with more trading supporting information, my thoughts and ideas. There is much more to a subscription than those things. Check it all out under the tab HISTORY &amp; PERFORMANCE on my website <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a>\r\n\r\n&nbsp;\r\n\r\nAlternatively, if you prefer to watch a video recording about the PREMIUM SERVICE, click the link below. You will be directed to a 40-minute webinar presentation entitled “AN INTRODUCTION TO THE PREMIUM SERVICE”.\r\n\r\n&nbsp;\r\n\r\n<a href=\"http://screencasts.weeklyfxdrivethru.com/watch/cb6fqiIAZX\">http://screencasts.weeklyfxdrivethru.com/watch/cb6fqiIAZX</a>\r\n\r\nTo subscribe to THE PREMIUM SERVICE, you will require a valid credit card.\r\n<u> </u>\r\n\r\n<u>CLOSING THOUGHTS:</u>\r\n\r\n<strong> </strong>\r\n\r\nNothing more to add here, I have said enough except,\r\n\r\n&nbsp;\r\n\r\nAs usual…\r\n\r\n&nbsp;\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\n\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: #157 PREMIUM SERVICE\r\n3rd December 2017\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n&nbsp;', 'NO MATTER WHAT… U.S. TRADERS BUY THE DIP', '', 'inherit', 'closed', 'closed', '', '10488-revision-v1', '', '', '2017-12-02 13:02:40', '2017-12-02 18:02:40', '', 10488, 'https://weeklyfxdrivethru.com/10488-revision-v1/', 0, 'revision', '', 0);
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(10492, 1, '2017-12-02 17:03:56', '2017-12-02 22:03:56', '&nbsp;\r\n<ol>\r\n 	<li><strong>THE FIRST FEW SHOTS:</strong></li>\r\n</ol>\r\nWelcome.\r\n\r\nWhenever I type December I am already thinking about Christmas, New Year and not being too anal but next year’s trading plans.\r\n\r\nWith regards to my FX trading next year and my plans with the PREMIUM SERVICE, I will announce them on a “drip feed” basis in the “DRIVE THRU” blogs between now and the final one of 2017 due out on 17th December.\r\n\r\nSo, with my own version of the countdown just two more “DRIVE THRU’s” until Christmas after this one!!\r\n\r\nI have had feedback to the recent changes with the DRIVE THRU blog format. I would like to thank those who commented about the changes, there were some positives and some negatives to the new structure.\r\n<ul>\r\n 	<li>Some miss “THE SOAPBOX” - some don\'t because it’s NOT directly currency related.</li>\r\n 	<li>Some want more charts. These are reserved for PREMIUM SERVICE subscribers throughout the trading week, sorry.</li>\r\n 	<li>Some want both - more charts and more SOAPBOX!!</li>\r\n 	<li>How to trade the week favourably received</li>\r\n</ul>\r\nThe blog takes me about 6-8 hours in total to write, compile and post. My wife, spell checks, grammar checks and signs off that I am NOT being too extreme. Then it has to be broken into the different formats for the various social media releases, update and post the WordPress versions and post the manual versions onto various Social Media formats. My goal is to reduce the time spent on production but have it just as focused but at the same time away from the usual FX reviews. I am a strong believer in differentiation.\r\n\r\nMoving on…\r\n\r\nPlease keep the feedback coming I love it and if you picked the DRIVE THRU blog up via TWITTER and you like my style and/or approach please feel free to re-tweet it!\r\n\r\nRemember you can always subscribe to the PREMIUM SERVICE to get more of my approach on a daily basis and at the same time get some help on making pips. My target for 2018 is 10,000 net pips…. I dare you!!\r\n\r\nNext…\r\n\r\nI enter December with 19 x LIVE TRADES and 14 x LIMIT ORDERS in position raring to go. Normally I would say, as we approach the end of the year it is time to slowly pullback and reduce RISK into the year end…. yeah right!\r\n\r\nAs soon as I plan something like this, opportunities come leaping out at me. It’s all about life choices and the FUNDAMENTALS, so for PREMIUM SERVICE subscribers please note it is very highly likely circa. 99.9% that there will be trading through the Christmas holidays, I just cannot see how it will not happen at this precise moment in time. So; get prepared for, paper hats on, turkey drumstick in hand and Jack Daniels by the side of the keyboard trading coming to a screen near you!\r\n\r\nEnough of that…\r\n\r\nMy sampling of my competition continues. Here is the best from this week’s experiences.\r\n\r\nHow to start this is difficult. I was trying to keep an open mind but pick me up off the floor!!\r\n\r\nI do despair sometimes. I know that I am NOT perfect and sometimes I can be off the wall son occasion with trades, but FFS, I have heard it all now.\r\n\r\nPlanets in alignment to move markets.\r\n\r\nIt’s not a question of Venus and Saturn, there has to be joke in here about Uranus.\r\n\r\nHMOG, you may as well place biscuits over potential trade set ups on paper, place them on the floor and let my Labrador boy, Ozzy eat them. The trade under the biscuit he picks first is the set up to trade!\r\n\r\nTalk about bollocks.\r\n\r\nMoving on…\r\n\r\nTHE PREMIUM SERVICE had another great month in November, and it is now only 272 pips behind last year’s record total at this stage of the year.\r\n\r\nNOVEMBER 2017 net TOTAL: 2,381 net pips\r\n2017 YEAR TO DATE: 12,783 net pips\r\n\r\nI do have a few trades hanging around with losses that I have carried forward into December. Most notable is a HEDGED 700 pip USD/CAD 3 separate trades position. The rest are small fry. So that contingent liability will have to be taken into consideration. The bottom line is however that I should remain (all things being equal) above my 10,000 pips per annum objective.\r\n\r\nMore details of the November performance can be found under the HISTORY &amp; PERFORMANCE tab on my welcome page.\r\n\r\nStaying in sales mode; now is a great time to join the PREMIUM SERVICE and be familiar and ready to go with the 2018 launch!!\r\n\r\nFinally, …\r\n\r\nIs anyone as sick of pigging BITCOIN as I am, my SPAM folders are full of it, for the remainder of 2017 there will be no mentions of fecking BITCOIN or crypto currencies in this blog. I don’t trade it, I am at the moment not interested in it, it is just a distraction to look at the charts and whilst I am sure it will remain around for some time, at the moment, I only have two words to say about BITCOIN… me arse!\r\n\r\nI did find this gem on twitter this week however…\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/BITCOIN-TWEET-03122017.png\"><img class=\"aligncenter size-large wp-image-10473\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/BITCOIN-TWEET-03122017-1024x466.png\" alt=\"\" width=\"1024\" height=\"466\" /></a>\r\n\r\n&nbsp;\r\n\r\n<strong> </strong>\r\n<ol start=\"2\">\r\n 	<li><strong>THE FX MARKET PLACE THIS WEE</strong></li>\r\n</ol>\r\n<u>\r\nTHIS WEEK’S ECONOMIC DATA RELEASES:</u>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/ECON-DATA-03122017.png\"><img class=\"aligncenter size-large wp-image-10478\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/ECON-DATA-03122017-1024x989.png\" alt=\"\" width=\"1024\" height=\"989\" /></a>\r\n\r\n&nbsp;\r\n\r\n<u>MY THOUGHTS ON THIS WEEK’S ECONOMIC DATA:</u>\r\n\r\nThere is swoop of data this week. It will be challenging to say the least. There is a great deal of Tier one data that should influence FX moves through to the year end.\r\n\r\nI think we have a pretty good understanding that the FED will raise come hell or high water, in fact “Hell” could freeze over but I still think Yellen will raise rates regardless.\r\n\r\nIn addition, of course we will continue to watch and listen to the fallout from the ex. TRUMP advisor Mike Flynn news that he will testify against the President of The United States. Having said that the “BUY THE FECKIN’ DIP” mentality even stands true when a possible impeachment case is on the horizon. After the Flynn revelations settled in and the Kushner links also came through, the markets then pared losses. No matter what the news, BUY THE DIP seems to always be the strategy in the U.S.\r\n\r\nIn no particular order: -\r\n\r\n<strong><u>AUD:</u></strong><u> CURRENT ACCOUNT, RETAIL SALES, RBA, GDP &amp; TRADE BALANCE</u>.\r\n\r\nJM&amp;J, this is what you call a “Clatter” of data. It’s all good stuff and highly directional.\r\n\r\nThe AUD has been under pressure to the downside of late. RBA policy via Governor Philip Lowe has been “Status Quo” policy neutral. The housing situation in Sydney causes huge concerns and Philip Lowe has made it clear he is no rush to raise rates but he has stated recently that the next direction of AUD rates will be higher.\r\n\r\nI rate Philip Lowe, I think he’s a thinker. I do NOT think he will want to rock any boats this week even if he has insider knowledge of any of the data numbers due to be released.\r\n\r\nRetail Sales will be a biggie. Last time around it was a 0%. If it does not post a positive number in the run up to Christmas, it never will. This is a key release in my opinion. The Current Account and Trade Balance are important but maybe not as relevant into the year-end. Like many things in December its pushed into the next Calendar year.\r\n\r\nGDP is as important as Retail Sales albeit it\'s a backward-looking number. Last quarter it was 0.8%, a minimum of a beat will be required.\r\n\r\nTrading the AUD will be awkward this week, with so much data. I enter with a lot of AUD short and long trades… so the PREMIUM SERVICE is HEDGED!!\r\n\r\n<strong><u>\r\nUSD:</u></strong><u> JOBS DATA.</u>\r\n\r\nRecently there has been no correlation between the private sector and public-sector jobs data. So, DO NOT trust that the ADP numbers will be an indication of NFP due Friday this week.\r\n\r\nThese numbers are always watched and noted, but in relation to FED policy and the FOMC interest rate decision due later this month, they are not as important in my eyes. I WILL NOT be trading NFP. I will watch and be a trading voyeur but as I have stated many, many times you more often than not have more luck with a national lottery than you do with trading FX on NFP day.\r\n\r\nAs for the numbers, as long as the 6 month averages are maintained I cannot see how the markets could be disappointed. There should be a chunk of part-time given the time of the year and this will create chaos and disorder for the initial knee-jerk reactions but when it’s all said and done its all about wage growth to show inflation. So, the Average Hourly Earnings with the NFP data on Friday will be key.\r\n\r\nI may have to hide my keyboard or take either Ozzy or Aoife for a walk as a distraction as I DO NOT want to trade NFP…. See you Friday then!\r\n\r\n&nbsp;\r\n\r\n<strong><u>CAD:</u></strong><u> TRADE BALANCE &amp; BOC.</u>\r\n\r\nI have two wives at the moment. My physical one and the other one is the USD/CAD. At times, I feel like I am married to three HEDGED TRADES as well. My losses are fixed at 700 pips while I wait to enter my “HEDGE OUT” trades to trigger.\r\n\r\nThe GDP and Jobs Data last Friday was a real pain in the arse, a nice little pre-data spike could have triggered my short trades. I am now I think probably waiting on this week’s data to hopefully get my entry price!\r\n\r\nWith regards to the data.\r\n\r\nThe TRADE BALANCE must move back towards positive and below CAD$3 Billion. It was April when it was last below CAD$2 Billion. It has a history of failing to meet forecasts.\r\n\r\nStephen Poloz has been a downbeat gloomy little fecker of late and it’s about time he had a spiked egg nog to cheer him up.\r\n\r\nWith the FED raising in December, there will be some pressure to follow suit. I just cannot see it this week. However, Poloz likes to surprise. One cannot rule it out. I would personally be astonished and would expect the next hike in Q1 2018.\r\n\r\nI do however think he will be a little more upbeat on the CAD economy, he should be with last week’s data and also with the run up to the year end and the Christmas holidays.\r\n\r\n&nbsp;\r\n\r\n<u>USD MAJORS – SUPPORT &amp; RESISTANCE LEVELS with BIAS:</u>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/TCHART-03122017.png\"><img class=\"aligncenter size-full wp-image-10479\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/TCHART-03122017.png\" alt=\"\" width=\"1016\" height=\"888\" /></a>\r\n\r\n&nbsp;\r\n\r\n<u>USD – TRADING CHARTS: </u>\r\n\r\nMore often than not I will use DAILY CHARTS for my analysis. My commentary and thoughts for each trading pair are above the charts.\r\n\r\n<strong>\r\n<u>EUR/USD:</u>\r\n</strong>\r\nNot much of a change in my thoughts or the chart that sits below. I think that I may have changed the colours of the lines that\'s about it!\r\n\r\nGREEN LINE = support at 1.1817\r\nPURPLE LINE = my bull / bear line at 1.1880\r\nDARK RED = resistance at 1.1960\r\nBLUE LINE = recent highs at 1.2090\r\n\r\nThe upward channel remains pretty much intact. We have been in a range of 1.1817 to 1.1960 in the past week.\r\n\r\nWe need to obviously break above or below to get this pair moving along. I have this feeling that now we are in December it will take either NFP this week or the ECB the week following to get things moving and give us a direction to follow.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/EURUSD-D-03122017.png\"><img class=\"aligncenter size-large wp-image-10482\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/EURUSD-D-03122017-1024x410.png\" alt=\"\" width=\"1024\" height=\"410\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n<strong><u>GBP/USD:</u></strong>\r\n\r\nI had been writing all week about the 1.3450 level being broken and creating a short squeeze.\r\n\r\nThe chart below, shows a possible “CUP &amp; HANDLE” pattern being formed with a measured move to 1.3900.\r\n\r\nWe must always temper the enthusiasm vis-à-vis the cable as it is always a news release away from a BREXIT announcement that can send it 100 pips lower or 100 pips higher. At the moment, there is a huge belief and more importantly a commitment to see serious progress acknowledged prior to the end of the year. This has me leaning more to the long side.\r\n\r\nThe 76.4% Fibonacci level that sits at 1.3508 is a key level. This pair was obviously spooked on the Flynn news last Friday. A break above this level should see the pair move towards a possible 1.4000 target beyond the CUP &amp; HANDLE pattern, at the golden Fib. level of 161.8%.\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/GBPUSD-D-03122017.png\"><img class=\"aligncenter size-large wp-image-10483\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/GBPUSD-D-03122017-1024x410.png\" alt=\"\" width=\"1024\" height=\"410\" /></a>\r\n\r\n&nbsp;\r\n\r\n<strong><u>AUD/USD:</u></strong>\r\n\r\nThe down channel remains intact albeit it was temporarily broken on the Flynn news. I am still bearish this pair and see 1.7640 as a great level to short from but even with the Flynn revelations this level failed to be achieved.\r\n\r\nWe are in a tight trading range between the PURPLE lines on the chart 0.7530 to 0.7640.\r\n\r\nThe RBA meets this week. I am not expecting any change in policy and I expect Philip Lowe to release a statement that is once again neutral.\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/AUDUSD-D-03122017.png\"><img class=\"aligncenter size-large wp-image-10481\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/AUDUSD-D-03122017-1024x410.png\" alt=\"\" width=\"1024\" height=\"410\" /></a>\r\n\r\n&nbsp;\r\n\r\n<strong><u>NZD/USD:\r\n</u></strong>\r\nWe have a bullish engulfing candle from last Friday. This usually means that a move higher should continue to be seen. Of late, these candles have NOT produced the follow through that is usually seen.\r\n\r\nWe are range bound between the two PURPLE lines of 0.6780 and 0.6980.\r\n\r\nTechnically, I think that this move higher just gives us a better price to short from as politically New Zealand has issues to overcome and whilst this uncertainty remains in place the pressure to the downside will always prevail.\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/NZDUSD-D-03122017.png\"><img class=\"aligncenter size-large wp-image-10484\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/NZDUSD-D-03122017-1024x410.png\" alt=\"\" width=\"1024\" height=\"410\" /></a>\r\n\r\n&nbsp;\r\n\r\n<strong><u>USD/CAD:</u></strong><strong>\r\n</strong>\r\nBugger…\r\n\r\nI really wanted to be short this pair, but I was looking for a level closer to the 200 DAY SMA and the 61.8% Fibonacci retracement level.\r\n\r\nThat is a “helluva” BIG RED candle on the chart. Usually BIG RED candles are followed by further BIG RED candles.\r\n\r\nThe trading range is 1.2660 to 1.2915.\r\n\r\nWe have the BOC this week, I just can’t see Poloz being dovish. I see him more positive than of late and this may send the USD/CAD lower. Ideally from my point of view I want him to dismiss last Friday’s data as “Mickey Mouse:” and send the USD/CAD back to 1.3000. I just can’t envisage that happening.\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/USDCAD-D-03122017.png\"><img class=\"aligncenter size-large wp-image-10485\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/USDCAD-D-03122017-1024x410.png\" alt=\"\" width=\"1024\" height=\"410\" /></a>\r\n\r\n&nbsp;\r\n\r\n<strong><u>USD/CHF:</u></strong><strong>\r\n</strong>\r\nI am still dreaming of bull flags and pennants with this pair. The measured move is to 1.0350, which by interest is a previous level of resistance from last year.\r\n\r\nIf 0.9700 gives way on the back of the flight to safety move which has affected this pair following the “FLYNN” revelations, we could see a move back to the recent lows around 0.9400.\r\n\r\nBe ready for a snap back move with this pair its correlation with its inverse relationship with the EUR/USD is out of sync. But make no mistake, on uncertainty the flight to buy GOLD also affects the CHF.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/USDCHF-03122017.png\"><img class=\"aligncenter size-large wp-image-10486\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/USDCHF-03122017-1024x410.png\" alt=\"\" width=\"1024\" height=\"410\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n<strong><u>USD/JPY:</u></strong><u>\r\n</u>\r\nThis pair was hit hard with the “FLYNN” news.\r\n\r\nOn Friday that is almost a 160-pip candle from 111.40 to 113.00. Quite a move for this pair. I think that the trading range to work with is 110.80 to 113.00.  This pair will be affected the most as equities and bonds fly around on the news headlines as they are released.\r\n\r\nIt goes without saying, do not get too heavy in a position size as when the market is headline driven moves can whip around very quickly.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/USDJPY-D-03122017.png\"><img class=\"aligncenter size-large wp-image-10487\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/USDJPY-D-03122017-1024x410.png\" alt=\"\" width=\"1024\" height=\"410\" /></a>\r\n\r\n&nbsp;\r\n\r\n<u>MY THOUGHTS ON HOW TO PLAY FX THIS WEEK:</u>\r\n\r\nWe are now in December. This is historically, a strange month, Christmas parties, sexual harassment claims, lawyers will be on 24x7 call outs, and from a trading perspective volatility tends to thin out as the market becomes less liquid.\r\n\r\nWe do have a few interesting snippets however to keep traders at their desks. The GREED factor will certainly come into play with the institutions and for us, the poor retail traders we have to be savvy and selective.\r\n\r\nNews items that are driving the markets have been based around the US TAX BILL, BREXIT and on Friday last week ex. TRUMP National Security advisor, Mike Flynn announced that he will testify against the President. BREXIT will play on for the next two years, but this month it is crucial for UK Prime Minister, Theresa May to see acknowledged progress has been made. My focus this week is GBP related.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/GBPUSD-MONTHLY-03122017.png\"><img class=\"aligncenter size-large wp-image-10480\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/GBPUSD-MONTHLY-03122017-1024x398.png\" alt=\"\" width=\"1024\" height=\"398\" /></a>\r\n\r\n&nbsp;\r\n\r\nYou can see from the above Monthly GBP/USD chart that we are breaking out above a multi-year trend line (from August 2104).\r\n\r\nThis is big news if the push higher can be maintained and it should have a knock-on effect through all cable related pairs.\r\n\r\nOne other fact to note from the GBP/USD chart is to take a look at the November monthly candle. It is very, very bullish. In fact, when you look at the moves from the August 2016 lows the monthly candle pattern is trending nicely higher.\r\n\r\nThe PREMIUM SERVICE is currently trading EUR/GBP, GBP/AUD and GBP/JPY. I am as I have stated several times of late not 100% happy trading the USD at the moment and my focus is more away from the majors into the cross rates.\r\n\r\nCable will be my main focus this week along with the CAD (to initiate my “HEDGE OUT” trades).\r\n\r\nWe must note that the FED report via the FOMC on December 13th, with the ECB and BOE both on the following day 14th December. I believe Friday 15th December will be the last day with anything near normal trading volumes.\r\n\r\nAs you know I would usually write here to look at cross rate pairs as an option. My GBP trades are POSITION style trades for the long haul and my trading activity with cross rate currency pairs that already have limited liquidity will; be severely curtailed from now on given the reduced volumes ahead. The RISK of getting stuck with an increased volatile pair with reduced trading volumes is just not worth it in my opinion, no matter how much of a volatility junkie you may be.\r\n\r\nFinally, as we enter a period, when the USD should be demonstrating increased strength through the passing of the TAX BILL, but more importantly Central Bank divergence, as Yellen will probably raise U.S. interest rates on December 13th,\r\n\r\nWould it not seem common sense to maybe hold an emerging market cross? Maybe take a look at USD/ZAR, USD/TRY or USD/MXN.\r\n\r\nThe bottom line is to try to be cute. It is you versus the big banks.\r\n\r\nFLYNN: It is a RISK OFF event in my opinion. I need to see reaction on Monday this week to get a better picture. On Friday, last week when the news broke it was like watching headless chickens running around a farmyard. Kushner was linked which may have helped the markets steady. But who knows? The DXY was slammed on Friday following the news breaking, but like the markets pared back after a while (see below).\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/DXY-03122017.png\"><img class=\"aligncenter size-large wp-image-10474\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/DXY-03122017-1024x495.png\" alt=\"\" width=\"1024\" height=\"495\" /></a>\r\n\r\n&nbsp;\r\n<ol start=\"3\">\r\n 	<li><strong> THE PREMIUM SERVICE:</strong></li>\r\n</ol>\r\nThe PREMIUM SERVICE is my own subscriber based Forex support service that offers subscribers my suggested trade set-ups and market commentaries.\r\n\r\nFull details of the PREMIUM SERVICE and costs to subscribe plus the various trade styles and how suggested trade set-ups are communicated can be found on my website landing page at <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a> by selecting the HISTORY &amp; PERFORMANCE tab.\r\n\r\n<u>CURRENT 2017 PREMIUM SERVICE PERFORMANCE:</u>\r\n\r\nPIPS TOTAL NOVEMBER 2017:     = +2,381 pips\r\nYEAR TO DATE:                              = +12,783 pips\r\n\r\nFurther information can be found by clicking TESTIMONIALS, PART-TIME TRADERS and FX PROMOTIONS tabs on my website  <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a>\r\nAlternatively, if you prefer to watch a video recording about the PREMIUM SERVICE, click the link below. You will be directed to a 40-minute webinar presentation entitled “AN INTRODUCTION TO THE PREMIUM SERVICE”.\r\n\r\n<a href=\"http://screencasts.weeklyfxdrivethru.com/watch/cb6fqiIAZX\">http://screencasts.weeklyfxdrivethru.com/watch/cb6fqiIAZX</a>\r\n\r\nTo subscribe to THE PREMIUM SERVICE, you will require a valid credit card.\r\n\r\n&nbsp;\r\n<ol start=\"4\">\r\n 	<li><strong> PREMIUM SERVICE SUBSCRIBERS ONLY:</strong></li>\r\n</ol>\r\n(Only SUBSCRIBERS to the PREMIUM SERVICE can view this section of the BLOG)\r\n\r\n<u>4:1. TRADING REVIEW:</u>\r\nWell November was the second-best pip performing month in 2017. I am carrying forward about 600 pips of negative trades plus an additional negative 700 pips of USD/CAD HEDGED trades into December. Therefore, the chances of a 2016 beat vis-à-vis pip performance looks unlikely.\r\n\r\nThe net pip total for November was 2,381 pips\r\nYear to date = 12,783 pips\r\n\r\nRatios of profit / loss trades are above 75% / 25% remaining in line, but my income this year will be lower than last year and lower than 2015.\r\n\r\nI have had to change my style and approach to trading to accommodate the market swings which have virtually made trading in 2017 unrecognizable from 2015.\r\n\r\nThe increasing reliance on automated trades via algorithms has brought a new dynamic to FX. Some of these algorithms are “STOP HUNTERS” and this creates a different type of trading environment in which to operate. In my opinion, to achieve a trading longevity in these markets we must trade smaller with wider stops and accept that maybe earnings will be a little lower. I really think that the days of looking for 50 pips of profit on a trade with a 30-pip stop are well behind us now. In fact, I think 50 pip stops are pointless most of the time.  I am still of the opinion that Fibonacci levels, pivot points and previous interest levels are the paramount key in conjunction with some chart patterns.\r\n\r\nAt the end of the day though, it’s still all about RISK MANAGEMENT. Whichever way you slice it, you still need to trade position sizes in line with your broker account balance.\r\n\r\nFollowing on from comments last week, I am revising my POSITION SIZING chart and introducing a new trade style called MOMENTUM TRADES.\r\n\r\nOne aspect of trading smaller positions with wider stops that cannot be ignored is that drawdowns can be larger especially with my POSITION trades which, can be based off MONTHLY ATR levels.\r\n\r\nMOMENTUM trades will be a little riskier as they are based off MOMENTUM moves that are NOT confirmed. They will however have tighter stops which will reduce drawdown levels. With almost 50% of my trades (47.5%) now being POSITION trades it’s time to review and adjust again.\r\n\r\nI have almost completed a revision of my TRADE STYLE DEFINITIONS and redefined existing styles to increase clarity for next year. This should be on the website soon, along with the new POSITION SIZING spreadsheet. I will email copies as well.\r\n\r\nI am undecided on the re-introduction of the weekly webinar. I cannot find a suitable vehicle that is iMac compatible. I will keep looking.\r\n\r\n<u>\r\n</u><u>4:2. SENTIMENT CHART,</u><u> FUNDAMENTAL &amp; MACRO THOUGHTS</u><u>:</u>\r\n\r\nLast Friday was a strange day, there was the US TAX BILL shenanigans, BREXIT confusion and mis-quotes coming back and forth from North Korea. The DAILY candles were strange based upon what one would have thought to have seen via continuation moves off the close of the November monthly candles.\r\n\r\nSentiment however was disrupted last Friday on the back of the Michael Flynn news. Prior to the bombshell breaking I was in the camp that USD should remain positive moving towards the year end based off the FED rate hike due on the 13th December. Initially we saw a massive drop in the DXY, but then we had the usual “BUY THE DIP” mentality set in.\r\n\r\nMoving forward, my thoughts are based around long GBP trades. I spent a good few hours putting together potential GBP related ARMAGEDDON trades. These look redundant now. I will NOT be rushing in to participate in this market, I want to see the dust settle on the Flynn fallout.\r\n\r\nI will be running down trades and RISK EXPOSURE into the holidays and as mentioned already, the last day of reasonable volume I expect to be on Friday 15th December after the FOMC, ECB and BOE are out of the way. Of course, I am ignoring BREXIT and other geopolitical news events that could happen.\r\n\r\nLooking at the sentiment chart, sentiment is still mixed.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/SENTIMENT-03122017.png\"><img class=\"aligncenter size-large wp-image-10477\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/SENTIMENT-03122017-775x1024.png\" alt=\"\" width=\"775\" height=\"1024\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n<u>4:3. TRADING PLANS:</u>\r\n\r\n<u>4:3.1. TRADING PLAN OVERVIEW THIS WEEK:</u>\r\n\r\nMy action plan for the week is: -\r\n<ol>\r\n 	<li>USD sentiment is still all over the place. Flynn revelations have not helped. I think it should be treated as RISK OFF but I need to wait, see and evaluate. Therefore, I will stay away as much as possible from the majors.</li>\r\n 	<li>Plan GBP long trades. There are some nice pullbacks from Friday last week that should offer some nice levels. Again, I need to evaluate, digest and absorb the Flynn fallout.</li>\r\n 	<li>CAD HEDGES. I am looking for my entry at 1.2980 to trigger. I just can’t see that this week, anything close to 1.2900 I will see as a gift. I am annoyed via hindsight that I did not short at 1.2910. I need to see what Poloz says this Wednesday and then decide. I will have an either/or plan in place prior to the BOC.</li>\r\n</ol>\r\n<u>4:3.2.  EXISTING CORE TRADES (PLANS &amp; STRATEGIES):</u>\r\n\r\nI am STILL bearish the CAD, AUD and NZD currencies. I am now bullish cable!\r\n\r\nThe Flynn revelations turned the markets upside down last Friday and the uncertainties that this brings with it need to be absorbed and digested.\r\n\r\n<strong><u>THE CAD:</u></strong>\r\nCurrently, I am live the following: -\r\n\r\n3 x live short USD/CAD trades. All three are HEDGED. No OUT trades are placed yet.\r\n\r\n<u>MY PLAN:</u>  - My belief is still that the USD/CAD is a short trade. I am waiting for 1.2910-1.2980 to establish 3 x “OUT” trades for my HEDGED trades.  I have my “OUT” trade LIMIT ORDERS in place at 1.2980. Be prepared, I could be waiting several weeks here until the market conditions are right.\r\n\r\nI have no plans currently to place / related trades against other pairs.\r\n\r\n<strong><u>THE NZD</u></strong>:\r\n\r\nCurrently I have 4 x live long AUD/NZD trades, and a NZD/USD short trade in play.\r\n\r\nPlus: - I have 4 more AUD/NZD long trades in position, plus, a NZD/JPY and a further NZD/USD short trades as LIMIT ORDERS in position.\r\n\r\n<u>MY PLAN:</u> - I will be looking to add NZD trades across the board as soon as I see a meaningful pullback to provide beneficial pricing. After the Flynn fallout is rationalized.\r\n\r\n<strong><u>THE AUD:</u></strong>\r\n\r\nCurrently live I have an AUD/USD short and GBP/AUD long trade in position.\r\n\r\nPlus: - I have an additional AUD/USD short LIMIT ORDER.\r\n\r\n<u>MY PLAN:</u> - To add back trades across the board at the start of this coming week that I removed at the end of last week.\r\n\r\n<strong><u>THE GBP:</u></strong>\r\n\r\nCurrently I have a EUR/GBP short and GBP/AUD and GBP/JPY long trades in play.\r\n\r\n<u>MY PLAN</u>: - Is to add additional cable cross rate pairs, GBP/NZD and staged “Buy Stop” entries across several pairs.\r\n\r\nI do want to see the dust settle first after the volatility of last Friday first. I am NOT in any rush to participate.\r\n\r\n&nbsp;\r\n\r\n<u>4:4. CURRENT LIVE TRADES &amp; LIMIT ORDERS:</u>\r\n\r\nCURRENT LIVE TRADES:\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/LIVE-TRADES-03122017.png\"><img class=\"aligncenter size-large wp-image-10476\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/LIVE-TRADES-03122017-888x1024.png\" alt=\"\" width=\"888\" height=\"1024\" /></a>\r\n\r\n&nbsp;\r\n\r\nCURRENT LIMIT ORDER TRADES:\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/LIMIT-ORDERS-03122017.png\"><img class=\"aligncenter size-large wp-image-10475\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/LIMIT-ORDERS-03122017-946x1024.png\" alt=\"\" width=\"946\" height=\"1024\" /></a>\r\n\r\n&nbsp;\r\n\r\n<u>4:5. FX BROKER NEWS with their MARKET FEEDBACK:</u>\r\n\r\nYou may have seen examples similar to these (see below) over the past few weeks.\r\n\r\nSo, the brokers intentions are clear. BONUS $$$ and FREE WEBINARS. Be very careful on the offers there are NO free lunches in FX.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/11/HANTEC-MARKETS.png\"><img class=\"aligncenter size-large wp-image-10470\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/11/HANTEC-MARKETS-1024x510.png\" alt=\"\" width=\"1024\" height=\"510\" /></a>\r\n\r\n<strong> </strong>\r\n\r\n<strong> <a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/11/AVA-TRADE.png\"><img class=\"aligncenter size-large wp-image-10471\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/11/AVA-TRADE-1024x829.png\" alt=\"\" width=\"1024\" height=\"829\" /></a></strong>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n<ol start=\"5\">\r\n 	<li><strong> THE FINAL SHOTS:</strong></li>\r\n</ol>\r\n<u>WANT A FREE PREMIUM SERVICE SUBSCRIPTION:</u>\r\n\r\nIf you like what you have read in this blog and would like the chance to win a FREE SUBSCRIPTION valued at CAD$150.00, all you need to do is subscribe to my FREE NEWSLETTER (this blog), by adding your email address on my welcome page just below my cube logo at <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a>\r\n\r\n<u>PREMIUM SERVICE SUBSCRIPTIONS:</u>\r\n\r\nIf you like what you’ve read in this blog and should you want to go a stage further and subscribe to the PREMIUM SERVICE, this can be done on my website <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a> under the Tab SUBSCRIBE HERE.\r\n\r\nSubscribing to the PREMIUM SERVICE is not just about receiving a larger “DRIVE THRU” blog packed with more trading supporting information, my thoughts and ideas. There is much more to a subscription than those things. Check it all out under the tab HISTORY &amp; PERFORMANCE on my website <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a>\r\n\r\nAlternatively, if you prefer to watch a video recording about the PREMIUM SERVICE, click the link below. You will be directed to a 40-minute webinar presentation entitled “AN INTRODUCTION TO THE PREMIUM SERVICE”.\r\n\r\n<a href=\"http://screencasts.weeklyfxdrivethru.com/watch/cb6fqiIAZX\">http://screencasts.weeklyfxdrivethru.com/watch/cb6fqiIAZX</a>\r\n\r\nTo subscribe to THE PREMIUM SERVICE, you will require a valid credit card.\r\n\r\n<u>CLOSING THOUGHTS:</u>\r\n\r\nNothing more to add here, I have said enough except,\r\n\r\nAs usual…\r\n\r\nAlways remember longevity in Forex trading can only be achieved through trading with good RISK and MONEY MANAGEMENT, and above all set your position sizes in accordance with the size of your account and allow for some flexibility.\r\n\r\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: #157 PREMIUM SERVICE\r\n3rd December 2017\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n&nbsp;', 'NO MATTER WHAT… U.S. TRADERS BUY THE DIP', '', 'inherit', 'closed', 'closed', '', '10488-revision-v1', '', '', '2017-12-02 17:03:56', '2017-12-02 22:03:56', '', 10488, 'https://weeklyfxdrivethru.com/10488-revision-v1/', 0, 'revision', '', 0);
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(10494, 1, '2017-12-02 17:26:16', '2017-12-02 22:26:16', '<strong>\r\n</strong>\r\n<ol>\r\n 	<li><strong>THE FIRST FEW SHOTS:</strong></li>\r\n</ol>\r\nWelcome.\r\n\r\nWhenever I type December I am already thinking about Christmas, New Year and not being too anal but next year’s trading plans.\r\n\r\nWith regards to my FX trading next year and my plans with the PREMIUM SERVICE, I will announce them on a “drip feed” basis in the “DRIVE THRU” blogs between now and the final one of 2017 due out on 17th December.\r\n\r\nSo, with my own version of the countdown just two more “DRIVE THRU’s” until Christmas after this one!!\r\n\r\nI have had feedback to the recent changes with the DRIVE THRU blog format. I would like to thank those who commented about the changes, there were some positives and some negatives to the new structure.\r\n<ul>\r\n 	<li>Some miss “THE SOAPBOX” - some don\'t because it’s NOT directly currency related.</li>\r\n 	<li>Some want more charts. These are reserved for PREMIUM SERVICE subscribers throughout the trading week, sorry.</li>\r\n 	<li>Some want both - more charts and more SOAPBOX!!</li>\r\n 	<li>How to trade the week favourably received.</li>\r\n</ul>\r\nThe blog takes me about 6-8 hours in total to write, compile and post. My wife, spell checks, grammar checks and signs off that I am NOT being too extreme. Then it has to be broken into the different formats for the various social media releases, update and post the WordPress versions and post the manual versions onto various Social Media formats. My goal is to reduce the time spent on production but have it just as focused but at the same time away from the usual FX reviews. I am a strong believer in differentiation.\r\n\r\nMoving on…\r\n\r\nPlease keep the feedback coming I love it and if you picked the DRIVE THRU blog up via TWITTER and you like my style and/or approach please feel free to re-tweet it!\r\n\r\nRemember you can always subscribe to the PREMIUM SERVICE to get more of my approach on a daily basis and at the same time get some help on making pips. My target for 2018 is 10,000 net pips…. I dare you!!\r\n\r\nNext…\r\n\r\nI enter December with 19 x LIVE TRADES and 14 x LIMIT ORDERS in position raring to go. Normally I would say, as we approach the end of the year it is time to slowly pullback and reduce RISK into the year end…. yeah right!\r\n\r\nAs soon as I plan something like this, opportunities come leaping out at me. It’s all about life choices and the FUNDAMENTALS, so for PREMIUM SERVICE subscribers please note it is very highly likely circa. 99.9% that there will be trading through the Christmas holidays, I just cannot see how it will not happen at this precise moment in time. So; get prepared for, paper hats on, turkey drumstick in hand and Jack Daniels by the side of the keyboard trading coming to a screen near you!\r\n\r\nEnough of that...\r\n\r\nMy sampling of my competition continues. Here is the best from this week’s experiences.\r\n\r\nHow to start this is difficult. I was trying to keep an open mind but pick me up off the floor!!\r\n\r\nI do despair sometimes. I know that I am NOT perfect and sometimes I can be off the wall son occasion with trades, but FFS, I have heard it all now.\r\n\r\nPlanets in alignment to move markets.\r\n\r\nIt’s not a question of Venus and Saturn, there has to be joke in here about Uranus.\r\n\r\nHMOG, you may as well place biscuits over potential trade set ups on paper, place them on the floor and let my Labrador boy, Ozzy eat them. The trade under the biscuit he picks first is the set up to trade!\r\n\r\nTalk about bollocks.\r\n\r\nMoving on…\r\n\r\nTHE PREMIUM SERVICE had another great month in November, and it is now only 272 pips behind last year’s record total at this stage of the year.\r\n\r\nNOVEMBER 2017 net TOTAL: 2,381 net pips\r\n2017 YEAR TO DATE: 12,783 net pips\r\n\r\nI do have a few trades hanging around with losses that I have carried forward into December. Most notable is a HEDGED 700 pip USD/CAD 3 separate trades position. The rest are small fry. So that contingent liability will have to be taken into consideration. The bottom line is however that I should remain (all things being equal) above my 10,000 pips per annum objective.\r\n\r\nMore details of the November performance can be found under the HISTORY &amp; PERFORMANCE tab on my welcome page.\r\n\r\nStaying in sales mode; now is a great time to join the PREMIUM SERVICE and be familiar and ready to go with the 2018 launch!!\r\n\r\nFinally, …\r\n\r\nIs anyone as sick of pigging BITCOIN as I am, my SPAM folders are full of it, for the remainder of 2017 there will be no mentions of fecking BITCOIN or crypto currencies in this blog. I don’t trade it, I am at the moment not interested in it, it is just a distraction to look at the charts and whilst I am sure it will remain around for some time, at the moment, I only have two words to say about BITCOIN… me arse!\r\n\r\nI did find this gem on twitter this week however…\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/BITCOIN-TWEET-03122017.png\"><img class=\"aligncenter size-large wp-image-10473\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/BITCOIN-TWEET-03122017-1024x466.png\" alt=\"\" width=\"1024\" height=\"466\" /></a>\r\n\r\n<strong> </strong>\r\n<ol start=\"2\">\r\n 	<li><strong>THE FX MARKET PLACE THIS WEEK:</strong></li>\r\n</ol>\r\n<u>\r\nTHIS WEEK’S ECONOMIC DATA RELEASES:</u>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/ECON-DATA-03122017.png\"><img class=\"aligncenter size-large wp-image-10478\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/ECON-DATA-03122017-1024x989.png\" alt=\"\" width=\"1024\" height=\"989\" /></a>\r\n\r\n<u>MY THOUGHTS ON THIS WEEK’S ECONOMIC DATA:</u>\r\n\r\nThere is swoop of data this week. It will be challenging to say the least. There is a great deal of Tier one data that should influence FX moves through to the year end.\r\n\r\nI think we have a pretty good understanding that the FED will raise come hell or high water, in fact “Hell” could freeze over but I still think Yellen will raise rates regardless.\r\n\r\nIn addition, of course we will continue to watch and listen to the fallout from the ex. TRUMP advisor Mike Flynn news that he will testify against the President of The United States. Having said that the “BUY THE FECKIN’ DIP” mentality even stands true when a possible impeachment case is on the horizon. After the Flynn revelations settled in and the Kushner links also came through, the markets then pared losses. No matter what the news, BUY THE DIP seems to always be the strategy in the U.S.\r\n\r\nIn no particular order: -\r\n\r\n<strong><u>AUD:</u></strong><u> CURRENT ACCOUNT, RETAIL SALES, RBA, GDP &amp; TRADE BALANCE</u>.\r\n\r\nJM&amp;J, this is what you call a “Clatter” of data. It’s all good stuff and highly directional.\r\n\r\nThe AUD has been under pressure to the downside of late. RBA policy via Governor Philip Lowe has been “Status Quo” policy neutral. The housing situation in Sydney causes huge concerns and Philip Lowe has made it clear he is no rush to raise rates but he has stated recently that the next direction of AUD rates will be higher.\r\n\r\nI rate Philip Lowe, I think he’s a thinker. I do NOT think he will want to rock any boats this week even if he has insider knowledge of any of the data numbers due to be released.\r\n\r\nRetail Sales will be a biggie. Last time around it was a 0%. If it does not post a positive number in the run up to Christmas, it never will. This is a key release in my opinion. The Current Account and Trade Balance are important but maybe not as relevant into the year-end. Like many things in December its pushed into the next Calendar year.\r\n\r\nGDP is as important as Retail Sales albeit it\'s a backward-looking number. Last quarter it was 0.8%, a minimum of a beat will be required.\r\n\r\nTrading the AUD will be awkward this week, with so much data. I enter with a lot of AUD short and long trades… so the PREMIUM SERVICE is HEDGED!!\r\n\r\n<strong><u>\r\nUSD:</u></strong><u> JOBS DATA.</u>\r\n\r\nRecently there has been no correlation between the private sector and public-sector jobs data. So, DO NOT trust that the ADP numbers will be an indication of NFP due Friday this week.\r\n\r\nThese numbers are always watched and noted, but in relation to FED policy and the FOMC interest rate decision due later this month, they are not as important in my eyes. I WILL NOT be trading NFP. I will watch and be a trading voyeur but as I have stated many, many times you more often than not have more luck with a national lottery than you do with trading FX on NFP day.\r\n\r\nAs for the numbers, as long as the 6 month averages are maintained I cannot see how the markets could be disappointed. There should be a chunk of part-time given the time of the year and this will create chaos and disorder for the initial knee-jerk reactions but when it’s all said and done its all about wage growth to show inflation. So, the Average Hourly Earnings with the NFP data on Friday will be key.\r\n\r\nI may have to hide my keyboard or take either Ozzy or Aoife for a walk as a distraction as I DO NOT want to trade NFP…. See you Friday then!\r\n\r\n&nbsp;\r\n\r\n<strong><u>CAD:</u></strong><u> TRADE BALANCE &amp; BOC.</u>\r\n\r\nI have two wives at the moment. My physical one and the other one is the USD/CAD. At times, I feel like I am married to three HEDGED TRADES as well. My losses are fixed at 700 pips while I wait to enter my “HEDGE OUT” trades to trigger.\r\n\r\nThe GDP and Jobs Data last Friday was a real pain in the arse, a nice little pre-data spike could have triggered my short trades. I am now I think probably waiting on this week’s data to hopefully get my entry price!\r\n\r\nWith regards to the data.\r\n\r\nThe TRADE BALANCE must move back towards positive and below CAD$3 Billion. It was April when it was last below CAD$2 Billion. It has a history of failing to meet forecasts.\r\n\r\nStephen Poloz has been a downbeat gloomy little fecker of late and it’s about time he had a spiked egg nog to cheer him up.\r\n\r\nWith the FED raising in December, there will be some pressure to follow suit. I just cannot see it this week. However, Poloz likes to surprise. One cannot rule it out. I would personally be astonished and would expect the next hike in Q1 2018.\r\n\r\nI do however think he will be a little more upbeat on the CAD economy, he should be with last week’s data and also with the run up to the year end and the Christmas holidays.\r\n\r\n&nbsp;\r\n\r\n<u>USD MAJORS – SUPPORT &amp; RESISTANCE LEVELS with BIAS:</u>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/TCHART-03122017.png\"><img class=\"aligncenter size-full wp-image-10479\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/TCHART-03122017.png\" alt=\"\" width=\"1016\" height=\"888\" /></a>\r\n\r\n&nbsp;\r\n\r\n<u>USD – TRADING CHARTS: </u>\r\n\r\nMore often than not I will use DAILY CHARTS for my analysis. My commentary and thoughts for each trading pair are above the charts.\r\n\r\n<strong>\r\n<u>EUR/USD:</u>\r\n</strong>\r\nNot much of a change in my thoughts or the chart that sits below. I think that I may have changed the colours of the lines that\'s about it!\r\n\r\nGREEN LINE = support at 1.1817\r\nPURPLE LINE = my bull / bear line at 1.1880\r\nDARK RED = resistance at 1.1960\r\nBLUE LINE = recent highs at 1.2090\r\n\r\nThe upward channel remains pretty much intact. We have been in a range of 1.1817 to 1.1960 in the past week.\r\n\r\nWe need to obviously break above or below to get this pair moving along. I have this feeling that now we are in December it will take either NFP this week or the ECB the week following to get things moving and give us a direction to follow.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/EURUSD-D-03122017.png\"><img class=\"aligncenter size-large wp-image-10482\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/EURUSD-D-03122017-1024x410.png\" alt=\"\" width=\"1024\" height=\"410\" /></a>\r\n\r\n&nbsp;\r\n\r\n<strong><u>GBP/USD:</u></strong>\r\n\r\nI had been writing all week about the 1.3450 level being broken and creating a short squeeze.\r\n\r\nThe chart below, shows a possible “CUP &amp; HANDLE” pattern being formed with a measured move to 1.3900.\r\n\r\nWe must always temper the enthusiasm vis-à-vis the cable as it is always a news release away from a BREXIT announcement that can send it 100 pips lower or 100 pips higher. At the moment, there is a huge belief and more importantly a commitment to see serious progress acknowledged prior to the end of the year. This has me leaning more to the long side.\r\n\r\nThe 76.4% Fibonacci level that sits at 1.3508 is a key level. This pair was obviously spooked on the Flynn news last Friday. A break above this level should see the pair move towards a possible 1.4000 target beyond the CUP &amp; HANDLE pattern, at the golden Fib. level of 161.8%.\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/GBPUSD-D-03122017.png\"><img class=\"aligncenter size-large wp-image-10483\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/GBPUSD-D-03122017-1024x410.png\" alt=\"\" width=\"1024\" height=\"410\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n<strong><u>AUD/USD:</u></strong>\r\n\r\nThe down channel remains intact albeit it was temporarily broken on the Flynn news. I am still bearish this pair and see 1.7640 as a great level to short from but even with the Flynn revelations this level failed to be achieved.\r\n\r\nWe are in a tight trading range between the PURPLE lines on the chart 0.7530 to 0.7640.\r\n\r\nThe RBA meets this week. I am not expecting any change in policy and I expect Philip Lowe to release a statement that is once again neutral.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/AUDUSD-D-03122017.png\"><img class=\"aligncenter size-large wp-image-10481\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/AUDUSD-D-03122017-1024x410.png\" alt=\"\" width=\"1024\" height=\"410\" /></a>\r\n\r\n&nbsp;\r\n\r\n<strong><u>NZD/USD:\r\n</u></strong>\r\nWe have a bullish engulfing candle from last Friday. This usually means that a move higher should continue to be seen. Of late, these candles have NOT produced the follow through that is usually seen.\r\n\r\nWe are range bound between the two PURPLE lines of 0.6780 and 0.6980.\r\n\r\nTechnically, I think that this move higher just gives us a better price to short from as politically New Zealand has issues to overcome and whilst this uncertainty remains in place the pressure to the downside will always prevail.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/NZDUSD-D-03122017.png\"><img class=\"aligncenter size-large wp-image-10484\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/NZDUSD-D-03122017-1024x410.png\" alt=\"\" width=\"1024\" height=\"410\" /></a>\r\n\r\n&nbsp;\r\n\r\n<strong><u>USD/CAD:</u></strong><strong>\r\n</strong>\r\nBugger…\r\n\r\nI really wanted to be short this pair, but I was looking for a level closer to the 200 DAY SMA and the 61.8% Fibonacci retracement level.\r\n\r\nThat is a “helluva” BIG RED candle on the chart. Usually BIG RED candles are followed by further BIG RED candles.\r\n\r\nThe trading range is 1.2660 to 1.2915.\r\n\r\nWe have the BOC this week, I just can’t see Poloz being dovish. I see him more positive than of late and this may send the USD/CAD lower. Ideally from my point of view I want him to dismiss last Friday’s data as “Mickey Mouse:” and send the USD/CAD back to 1.3000. I just can’t envisage that happening.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/USDCAD-D-03122017.png\"><img class=\"aligncenter size-large wp-image-10485\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/USDCAD-D-03122017-1024x410.png\" alt=\"\" width=\"1024\" height=\"410\" /></a>\r\n\r\n&nbsp;\r\n\r\n<strong><u>USD/CHF:</u></strong><strong>\r\n</strong>\r\nI am still dreaming of bull flags and pennants with this pair. The measured move is to 1.0350, which by interest is a previous level of resistance from last year.\r\n\r\nIf 0.9700 gives way on the back of the flight to safety move which has affected this pair following the “FLYNN” revelations, we could see a move back to the recent lows around 0.9400.\r\n\r\nBe ready for a snap back move with this pair its correlation with its inverse relationship with the EUR/USD is out of sync. But make no mistake, on uncertainty the flight to buy GOLD also affects the CHF.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/USDCHF-03122017.png\"><img class=\"aligncenter size-large wp-image-10486\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/USDCHF-03122017-1024x410.png\" alt=\"\" width=\"1024\" height=\"410\" />\r\n</a>\r\n\r\n<strong><u>USD/JPY:</u></strong><u>\r\n</u>\r\nThis pair was hit hard with the “FLYNN” news.\r\n\r\nOn Friday that is almost a 160-pip candle from 111.40 to 113.00. Quite a move for this pair. I think that the trading range to work with is 110.80 to 113.00.  This pair will be affected the most as equities and bonds fly around on the news headlines as they are released.\r\n\r\nIt goes without saying, do not get too heavy in a position size as when the market is headline driven moves can whip around very quickly.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/USDJPY-D-03122017.png\"><img class=\"aligncenter size-large wp-image-10487\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/USDJPY-D-03122017-1024x410.png\" alt=\"\" width=\"1024\" height=\"410\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n<u>MY THOUGHTS ON HOW TO PLAY FX THIS WEEK:</u>\r\n\r\nWe are now in December. This is historically, a strange month, Christmas parties, sexual harassment claims, lawyers will be on 24x7 call outs, and from a trading perspective volatility tends to thin out as the market becomes less liquid.\r\n\r\nWe do have a few interesting snippets however to keep traders at their desks. The GREED factor will certainly come into play with the institutions and for us, the poor retail traders we have to be savvy and selective.\r\n\r\nNews items that are driving the markets have been based around the US TAX BILL, BREXIT and on Friday last week ex. TRUMP National Security advisor, Mike Flynn announced that he will testify against the President. BREXIT will play on for the next two years, but this month it is crucial for UK Prime Minister, Theresa May to see acknowledged progress has been made. My focus this week is GBP related.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/GBPUSD-MONTHLY-03122017.png\"><img class=\"aligncenter size-large wp-image-10480\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/GBPUSD-MONTHLY-03122017-1024x398.png\" alt=\"\" width=\"1024\" height=\"398\" /></a>\r\n\r\n&nbsp;\r\n\r\nYou can see from the above Monthly GBP/USD chart that we are breaking out above a multi-year trend line (from August 2104).\r\n\r\nThis is big news if the push higher can be maintained and it should have a knock-on effect through all cable related pairs.\r\n\r\nOne other fact to note from the GBP/USD chart is to take a look at the November monthly candle. It is very, very bullish. In fact, when you look at the moves from the August 2016 lows the monthly candle pattern is trending nicely higher.\r\n\r\nThe PREMIUM SERVICE is currently trading EUR/GBP, GBP/AUD and GBP/JPY. I am as I have stated several times of late not 100% happy trading the USD at the moment and my focus is more away from the majors into the cross rates.\r\n\r\nCable will be my main focus this week along with the CAD (to initiate my “HEDGE OUT” trades).\r\n\r\nWe must note that the FED report via the FOMC on December 13th, with the ECB and BOE both on the following day 14th December. I believe Friday 15th December will be the last day with anything near normal trading volumes.\r\n\r\nAs you know I would usually write here to look at cross rate pairs as an option. My GBP trades are POSITION style trades for the long haul and my trading activity with cross rate currency pairs that already have limited liquidity will; be severely curtailed from now on given the reduced volumes ahead. The RISK of getting stuck with an increased volatile pair with reduced trading volumes is just not worth it in my opinion, no matter how much of a volatility junkie you may be.\r\n\r\nFinally, as we enter a period, when the USD should be demonstrating increased strength through the passing of the TAX BILL, but more importantly Central Bank divergence, as Yellen will probably raise U.S. interest rates on December 13th,\r\n\r\nWould it not seem common sense to maybe hold an emerging market cross? Maybe take a look at USD/ZAR, USD/TRY or USD/MXN.\r\n\r\nThe bottom line is to try to be cute. It is you versus the big banks.\r\n\r\nFLYNN: It is a RISK OFF event in my opinion. I need to see reaction on Monday this week to get a better picture. On Friday, last week when the news broke it was like watching headless chickens running around a farmyard. Kushner was linked which may have helped the markets steady. But who knows? The DXY was slammed on Friday following the news breaking, but like the markets pared back after a while (see below).\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/DXY-03122017.png\"><img class=\"aligncenter size-large wp-image-10474\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/DXY-03122017-1024x495.png\" alt=\"\" width=\"1024\" height=\"495\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n<ol start=\"3\">\r\n 	<li><strong> THE PREMIUM SERVICE:</strong></li>\r\n</ol>\r\nThe PREMIUM SERVICE is my own subscriber based Forex support service that offers subscribers my suggested trade set-ups and market commentaries.\r\n\r\nFull details of the PREMIUM SERVICE and costs to subscribe plus the various trade styles and how suggested trade set-ups are communicated can be found on my website landing page at <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a> by selecting the HISTORY &amp; PERFORMANCE tab.\r\n\r\n<u>CURRENT 2017 PREMIUM SERVICE PERFORMANCE:</u>\r\n\r\nPIPS TOTAL NOVEMBER 2017:  = +2,381 pips\r\nYEAR TO DATE:                              = +12,783 pips\r\nFurther information can be found by clicking TESTIMONIALS, PART-TIME TRADERS and FX PROMOTIONS tabs on my website  <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a>\r\n\r\nAlternatively, if you prefer to watch a video recording about the PREMIUM SERVICE, click the link below. You will be directed to a 40-minute webinar presentation entitled “AN INTRODUCTION TO THE PREMIUM SERVICE”.\r\n\r\n<a href=\"http://screencasts.weeklyfxdrivethru.com/watch/cb6fqiIAZX\">http://screencasts.weeklyfxdrivethru.com/watch/cb6fqiIAZX</a>\r\n\r\nTo subscribe to THE PREMIUM SERVICE, you will require a valid credit card.\r\n<ol start=\"4\">\r\n 	<li><strong> PREMIUM SERVICE SUBSCRIBERS ONLY:</strong></li>\r\n</ol>\r\n(Only SUBSCRIBERS to the PREMIUM SERVICE can view this section of the BLOG)\r\n\r\n<u>4:1. TRADING REVIEW:</u>\r\n\r\n<u> </u><u>4:2. SENTIMENT CHART,</u><u> FUNDAMENTAL &amp; MACRO THOUGHTS</u><u>:\r\n</u>\r\n\r\n<u>4:3. TRADING PLANS:</u>\r\n\r\n<u>4:3.1. TRADING PLAN OVERVIEW THIS WEEK:</u>\r\n\r\n<u>4:3.2.  EXISTING CORE TRADES (PLANS &amp; STRATEGIES):</u>\r\n\r\n<u>4:4. CURRENT LIVE TRADES &amp; LIMIT ORDERS:</u>\r\n\r\n<u>4:5. FX BROKER NEWS with their MARKET FEEDBACK:</u>\r\n\r\n<strong> </strong>\r\n<ol start=\"5\">\r\n 	<li><strong> THE FINAL SHOTS:</strong></li>\r\n</ol>\r\n<u>WANT A FREE PREMIUM SERVICE SUBSCRIPTION:</u>\r\n\r\nIf you like what you have read in this blog and would like the chance to win a FREE SUBSCRIPTION valued at CAD$150.00, all you need to do is subscribe to my FREE NEWSLETTER (this blog), by adding your email address on my welcome page just below my cube logo at <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a>\r\n\r\n<u>PREMIUM SERVICE SUBSCRIPTIONS:</u>\r\n\r\nIf you like what you’ve read in this blog and should you want to go a stage further and subscribe to the PREMIUM SERVICE, this can be done on my website <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a> under the Tab SUBSCRIBE HERE.\r\n\r\nSubscribing to the PREMIUM SERVICE is not just about receiving a larger “DRIVE THRU” blog packed with more trading supporting information, my thoughts and ideas. There is much more to a subscription than those things. Check it all out under the tab HISTORY &amp; PERFORMANCE on my website <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a>\r\n\r\nAlternatively, if you prefer to watch a video recording about the PREMIUM SERVICE, click the link below. You will be directed to a 40-minute webinar presentation entitled “AN INTRODUCTION TO THE PREMIUM SERVICE”.\r\n\r\n<a href=\"http://screencasts.weeklyfxdrivethru.com/watch/cb6fqiIAZX\">http://screencasts.weeklyfxdrivethru.com/watch/cb6fqiIAZX</a>\r\n\r\nTo subscribe to THE PREMIUM SERVICE, you will require a valid credit card.\r\n\r\n<u>CLOSING THOUGHTS:</u>\r\n\r\nNothing more to add here, I have said enough except,\r\n\r\nAs usual…\r\n\r\nAlways remember longevity in Forex trading can only be achieved through trading with good RISK and MONEY MANAGEMENT, and above all set your position sizes in accordance with the size of your account and allow for some flexibility.\r\n\r\nScott Pickering\r\nThe Pip Accumulator\r\nTwitter: @pipaccumulator\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/disclaimer/\">http://weeklyfxdrivethru.com/disclaimer/</a>\r\n\r\nBLOG VERSION: #261 FREE NEWSLETTER\r\n3rd December 2017\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n&nbsp;', 'NO MATTER WHAT… BUY THE DIP REMAINS THE STRATEGY', '', 'publish', 'open', 'closed', '', 'no-matter-buy-dip-remains-strategy', '', '', '2017-12-02 17:26:16', '2017-12-02 22:26:16', '', 0, 'https://weeklyfxdrivethru.com/?p=10494', 0, 'post', '', 0);
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(10495, 1, '2017-12-02 17:25:55', '2017-12-02 22:25:55', '<strong>\r\n</strong>\r\n<ol>\r\n 	<li><strong>THE FIRST FEW SHOTS:</strong></li>\r\n</ol>\r\nWelcome.\r\n\r\nWhenever I type December I am already thinking about Christmas, New Year and not being too anal but next year’s trading plans.\r\n\r\nWith regards to my FX trading next year and my plans with the PREMIUM SERVICE, I will announce them on a “drip feed” basis in the “DRIVE THRU” blogs between now and the final one of 2017 due out on 17th December.\r\n\r\nSo, with my own version of the countdown just two more “DRIVE THRU’s” until Christmas after this one!!\r\n\r\nI have had feedback to the recent changes with the DRIVE THRU blog format. I would like to thank those who commented about the changes, there were some positives and some negatives to the new structure.\r\n<ul>\r\n 	<li>Some miss “THE SOAPBOX” - some don\'t because it’s NOT directly currency related.</li>\r\n 	<li>Some want more charts. These are reserved for PREMIUM SERVICE subscribers throughout the trading week, sorry.</li>\r\n 	<li>Some want both - more charts and more SOAPBOX!!</li>\r\n 	<li>How to trade the week favourably received.</li>\r\n</ul>\r\nThe blog takes me about 6-8 hours in total to write, compile and post. My wife, spell checks, grammar checks and signs off that I am NOT being too extreme. Then it has to be broken into the different formats for the various social media releases, update and post the WordPress versions and post the manual versions onto various Social Media formats. My goal is to reduce the time spent on production but have it just as focused but at the same time away from the usual FX reviews. I am a strong believer in differentiation.\r\n\r\nMoving on…\r\n\r\nPlease keep the feedback coming I love it and if you picked the DRIVE THRU blog up via TWITTER and you like my style and/or approach please feel free to re-tweet it!\r\n\r\nRemember you can always subscribe to the PREMIUM SERVICE to get more of my approach on a daily basis and at the same time get some help on making pips. My target for 2018 is 10,000 net pips…. I dare you!!\r\n\r\nNext…\r\n\r\nI enter December with 19 x LIVE TRADES and 14 x LIMIT ORDERS in position raring to go. Normally I would say, as we approach the end of the year it is time to slowly pullback and reduce RISK into the year end…. yeah right!\r\n\r\nAs soon as I plan something like this, opportunities come leaping out at me. It’s all about life choices and the FUNDAMENTALS, so for PREMIUM SERVICE subscribers please note it is very highly likely circa. 99.9% that there will be trading through the Christmas holidays, I just cannot see how it will not happen at this precise moment in time. So; get prepared for, paper hats on, turkey drumstick in hand and Jack Daniels by the side of the keyboard trading coming to a screen near you!\r\n\r\nEnough of that...\r\n\r\nMy sampling of my competition continues. Here is the best from this week’s experiences.\r\n\r\nHow to start this is difficult. I was trying to keep an open mind but pick me up off the floor!!\r\n\r\nI do despair sometimes. I know that I am NOT perfect and sometimes I can be off the wall son occasion with trades, but FFS, I have heard it all now.\r\n\r\nPlanets in alignment to move markets.\r\n\r\nIt’s not a question of Venus and Saturn, there has to be joke in here about Uranus.\r\n\r\nHMOG, you may as well place biscuits over potential trade set ups on paper, place them on the floor and let my Labrador boy, Ozzy eat them. The trade under the biscuit he picks first is the set up to trade!\r\n\r\nTalk about bollocks.\r\n\r\nMoving on…\r\n\r\nTHE PREMIUM SERVICE had another great month in November, and it is now only 272 pips behind last year’s record total at this stage of the year.\r\n\r\nNOVEMBER 2017 net TOTAL: 2,381 net pips\r\n2017 YEAR TO DATE: 12,783 net pips\r\n\r\nI do have a few trades hanging around with losses that I have carried forward into December. Most notable is a HEDGED 700 pip USD/CAD 3 separate trades position. The rest are small fry. So that contingent liability will have to be taken into consideration. The bottom line is however that I should remain (all things being equal) above my 10,000 pips per annum objective.\r\n\r\nMore details of the November performance can be found under the HISTORY &amp; PERFORMANCE tab on my welcome page.\r\n\r\nStaying in sales mode; now is a great time to join the PREMIUM SERVICE and be familiar and ready to go with the 2018 launch!!\r\n\r\nFinally, …\r\n\r\nIs anyone as sick of pigging BITCOIN as I am, my SPAM folders are full of it, for the remainder of 2017 there will be no mentions of fecking BITCOIN or crypto currencies in this blog. I don’t trade it, I am at the moment not interested in it, it is just a distraction to look at the charts and whilst I am sure it will remain around for some time, at the moment, I only have two words to say about BITCOIN… me arse!\r\n\r\nI did find this gem on twitter this week however…\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/BITCOIN-TWEET-03122017.png\"><img class=\"aligncenter size-large wp-image-10473\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/BITCOIN-TWEET-03122017-1024x466.png\" alt=\"\" width=\"1024\" height=\"466\" /></a>\r\n\r\n<strong> </strong>\r\n<ol start=\"2\">\r\n 	<li><strong>THE FX MARKET PLACE THIS WEEK:</strong></li>\r\n</ol>\r\n<u>\r\nTHIS WEEK’S ECONOMIC DATA RELEASES:</u>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/ECON-DATA-03122017.png\"><img class=\"aligncenter size-large wp-image-10478\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/ECON-DATA-03122017-1024x989.png\" alt=\"\" width=\"1024\" height=\"989\" /></a>\r\n\r\n<u>MY THOUGHTS ON THIS WEEK’S ECONOMIC DATA:</u>\r\n\r\nThere is swoop of data this week. It will be challenging to say the least. There is a great deal of Tier one data that should influence FX moves through to the year end.\r\n\r\nI think we have a pretty good understanding that the FED will raise come hell or high water, in fact “Hell” could freeze over but I still think Yellen will raise rates regardless.\r\n\r\nIn addition, of course we will continue to watch and listen to the fallout from the ex. TRUMP advisor Mike Flynn news that he will testify against the President of The United States. Having said that the “BUY THE FECKIN’ DIP” mentality even stands true when a possible impeachment case is on the horizon. After the Flynn revelations settled in and the Kushner links also came through, the markets then pared losses. No matter what the news, BUY THE DIP seems to always be the strategy in the U.S.\r\n\r\nIn no particular order: -\r\n\r\n<strong><u>AUD:</u></strong><u> CURRENT ACCOUNT, RETAIL SALES, RBA, GDP &amp; TRADE BALANCE</u>.\r\n\r\nJM&amp;J, this is what you call a “Clatter” of data. It’s all good stuff and highly directional.\r\n\r\nThe AUD has been under pressure to the downside of late. RBA policy via Governor Philip Lowe has been “Status Quo” policy neutral. The housing situation in Sydney causes huge concerns and Philip Lowe has made it clear he is no rush to raise rates but he has stated recently that the next direction of AUD rates will be higher.\r\n\r\nI rate Philip Lowe, I think he’s a thinker. I do NOT think he will want to rock any boats this week even if he has insider knowledge of any of the data numbers due to be released.\r\n\r\nRetail Sales will be a biggie. Last time around it was a 0%. If it does not post a positive number in the run up to Christmas, it never will. This is a key release in my opinion. The Current Account and Trade Balance are important but maybe not as relevant into the year-end. Like many things in December its pushed into the next Calendar year.\r\n\r\nGDP is as important as Retail Sales albeit it\'s a backward-looking number. Last quarter it was 0.8%, a minimum of a beat will be required.\r\n\r\nTrading the AUD will be awkward this week, with so much data. I enter with a lot of AUD short and long trades… so the PREMIUM SERVICE is HEDGED!!\r\n\r\n<strong><u>\r\nUSD:</u></strong><u> JOBS DATA.</u>\r\n\r\nRecently there has been no correlation between the private sector and public-sector jobs data. So, DO NOT trust that the ADP numbers will be an indication of NFP due Friday this week.\r\n\r\nThese numbers are always watched and noted, but in relation to FED policy and the FOMC interest rate decision due later this month, they are not as important in my eyes. I WILL NOT be trading NFP. I will watch and be a trading voyeur but as I have stated many, many times you more often than not have more luck with a national lottery than you do with trading FX on NFP day.\r\n\r\nAs for the numbers, as long as the 6 month averages are maintained I cannot see how the markets could be disappointed. There should be a chunk of part-time given the time of the year and this will create chaos and disorder for the initial knee-jerk reactions but when it’s all said and done its all about wage growth to show inflation. So, the Average Hourly Earnings with the NFP data on Friday will be key.\r\n\r\nI may have to hide my keyboard or take either Ozzy or Aoife for a walk as a distraction as I DO NOT want to trade NFP…. See you Friday then!\r\n\r\n&nbsp;\r\n\r\n<strong><u>CAD:</u></strong><u> TRADE BALANCE &amp; BOC.</u>\r\n\r\nI have two wives at the moment. My physical one and the other one is the USD/CAD. At times, I feel like I am married to three HEDGED TRADES as well. My losses are fixed at 700 pips while I wait to enter my “HEDGE OUT” trades to trigger.\r\n\r\nThe GDP and Jobs Data last Friday was a real pain in the arse, a nice little pre-data spike could have triggered my short trades. I am now I think probably waiting on this week’s data to hopefully get my entry price!\r\n\r\nWith regards to the data.\r\n\r\nThe TRADE BALANCE must move back towards positive and below CAD$3 Billion. It was April when it was last below CAD$2 Billion. It has a history of failing to meet forecasts.\r\n\r\nStephen Poloz has been a downbeat gloomy little fecker of late and it’s about time he had a spiked egg nog to cheer him up.\r\n\r\nWith the FED raising in December, there will be some pressure to follow suit. I just cannot see it this week. However, Poloz likes to surprise. One cannot rule it out. I would personally be astonished and would expect the next hike in Q1 2018.\r\n\r\nI do however think he will be a little more upbeat on the CAD economy, he should be with last week’s data and also with the run up to the year end and the Christmas holidays.\r\n\r\n&nbsp;\r\n\r\n<u>USD MAJORS – SUPPORT &amp; RESISTANCE LEVELS with BIAS:</u>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/TCHART-03122017.png\"><img class=\"aligncenter size-full wp-image-10479\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/TCHART-03122017.png\" alt=\"\" width=\"1016\" height=\"888\" /></a>\r\n\r\n&nbsp;\r\n\r\n<u>USD – TRADING CHARTS: </u>\r\n\r\nMore often than not I will use DAILY CHARTS for my analysis. My commentary and thoughts for each trading pair are above the charts.\r\n\r\n<strong>\r\n<u>EUR/USD:</u>\r\n</strong>\r\nNot much of a change in my thoughts or the chart that sits below. I think that I may have changed the colours of the lines that\'s about it!\r\n\r\nGREEN LINE = support at 1.1817\r\nPURPLE LINE = my bull / bear line at 1.1880\r\nDARK RED = resistance at 1.1960\r\nBLUE LINE = recent highs at 1.2090\r\n\r\nThe upward channel remains pretty much intact. We have been in a range of 1.1817 to 1.1960 in the past week.\r\n\r\nWe need to obviously break above or below to get this pair moving along. I have this feeling that now we are in December it will take either NFP this week or the ECB the week following to get things moving and give us a direction to follow.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/EURUSD-D-03122017.png\"><img class=\"aligncenter size-large wp-image-10482\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/EURUSD-D-03122017-1024x410.png\" alt=\"\" width=\"1024\" height=\"410\" /></a>\r\n\r\n&nbsp;\r\n\r\n<strong><u>GBP/USD:</u></strong>\r\n\r\nI had been writing all week about the 1.3450 level being broken and creating a short squeeze.\r\n\r\nThe chart below, shows a possible “CUP &amp; HANDLE” pattern being formed with a measured move to 1.3900.\r\n\r\nWe must always temper the enthusiasm vis-à-vis the cable as it is always a news release away from a BREXIT announcement that can send it 100 pips lower or 100 pips higher. At the moment, there is a huge belief and more importantly a commitment to see serious progress acknowledged prior to the end of the year. This has me leaning more to the long side.\r\n\r\nThe 76.4% Fibonacci level that sits at 1.3508 is a key level. This pair was obviously spooked on the Flynn news last Friday. A break above this level should see the pair move towards a possible 1.4000 target beyond the CUP &amp; HANDLE pattern, at the golden Fib. level of 161.8%.\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/GBPUSD-D-03122017.png\"><img class=\"aligncenter size-large wp-image-10483\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/GBPUSD-D-03122017-1024x410.png\" alt=\"\" width=\"1024\" height=\"410\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n<strong><u>AUD/USD:</u></strong>\r\n\r\nThe down channel remains intact albeit it was temporarily broken on the Flynn news. I am still bearish this pair and see 1.7640 as a great level to short from but even with the Flynn revelations this level failed to be achieved.\r\n\r\nWe are in a tight trading range between the PURPLE lines on the chart 0.7530 to 0.7640.\r\n\r\nThe RBA meets this week. I am not expecting any change in policy and I expect Philip Lowe to release a statement that is once again neutral.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/AUDUSD-D-03122017.png\"><img class=\"aligncenter size-large wp-image-10481\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/AUDUSD-D-03122017-1024x410.png\" alt=\"\" width=\"1024\" height=\"410\" /></a>\r\n\r\n&nbsp;\r\n\r\n<strong><u>NZD/USD:\r\n</u></strong>\r\nWe have a bullish engulfing candle from last Friday. This usually means that a move higher should continue to be seen. Of late, these candles have NOT produced the follow through that is usually seen.\r\n\r\nWe are range bound between the two PURPLE lines of 0.6780 and 0.6980.\r\n\r\nTechnically, I think that this move higher just gives us a better price to short from as politically New Zealand has issues to overcome and whilst this uncertainty remains in place the pressure to the downside will always prevail.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/NZDUSD-D-03122017.png\"><img class=\"aligncenter size-large wp-image-10484\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/NZDUSD-D-03122017-1024x410.png\" alt=\"\" width=\"1024\" height=\"410\" /></a>\r\n\r\n&nbsp;\r\n\r\n<strong><u>USD/CAD:</u></strong><strong>\r\n</strong>\r\nBugger…\r\n\r\nI really wanted to be short this pair, but I was looking for a level closer to the 200 DAY SMA and the 61.8% Fibonacci retracement level.\r\n\r\nThat is a “helluva” BIG RED candle on the chart. Usually BIG RED candles are followed by further BIG RED candles.\r\n\r\nThe trading range is 1.2660 to 1.2915.\r\n\r\nWe have the BOC this week, I just can’t see Poloz being dovish. I see him more positive than of late and this may send the USD/CAD lower. Ideally from my point of view I want him to dismiss last Friday’s data as “Mickey Mouse:” and send the USD/CAD back to 1.3000. I just can’t envisage that happening.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/USDCAD-D-03122017.png\"><img class=\"aligncenter size-large wp-image-10485\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/USDCAD-D-03122017-1024x410.png\" alt=\"\" width=\"1024\" height=\"410\" /></a>\r\n\r\n&nbsp;\r\n\r\n<strong><u>USD/CHF:</u></strong><strong>\r\n</strong>\r\nI am still dreaming of bull flags and pennants with this pair. The measured move is to 1.0350, which by interest is a previous level of resistance from last year.\r\n\r\nIf 0.9700 gives way on the back of the flight to safety move which has affected this pair following the “FLYNN” revelations, we could see a move back to the recent lows around 0.9400.\r\n\r\nBe ready for a snap back move with this pair its correlation with its inverse relationship with the EUR/USD is out of sync. But make no mistake, on uncertainty the flight to buy GOLD also affects the CHF.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/USDCHF-03122017.png\"><img class=\"aligncenter size-large wp-image-10486\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/USDCHF-03122017-1024x410.png\" alt=\"\" width=\"1024\" height=\"410\" />\r\n</a>\r\n\r\n<strong><u>USD/JPY:</u></strong><u>\r\n</u>\r\nThis pair was hit hard with the “FLYNN” news.\r\n\r\nOn Friday that is almost a 160-pip candle from 111.40 to 113.00. Quite a move for this pair. I think that the trading range to work with is 110.80 to 113.00.  This pair will be affected the most as equities and bonds fly around on the news headlines as they are released.\r\n\r\nIt goes without saying, do not get too heavy in a position size as when the market is headline driven moves can whip around very quickly.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/USDJPY-D-03122017.png\"><img class=\"aligncenter size-large wp-image-10487\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/USDJPY-D-03122017-1024x410.png\" alt=\"\" width=\"1024\" height=\"410\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n<u>MY THOUGHTS ON HOW TO PLAY FX THIS WEEK:</u>\r\n\r\nWe are now in December. This is historically, a strange month, Christmas parties, sexual harassment claims, lawyers will be on 24x7 call outs, and from a trading perspective volatility tends to thin out as the market becomes less liquid.\r\n\r\nWe do have a few interesting snippets however to keep traders at their desks. The GREED factor will certainly come into play with the institutions and for us, the poor retail traders we have to be savvy and selective.\r\n\r\nNews items that are driving the markets have been based around the US TAX BILL, BREXIT and on Friday last week ex. TRUMP National Security advisor, Mike Flynn announced that he will testify against the President. BREXIT will play on for the next two years, but this month it is crucial for UK Prime Minister, Theresa May to see acknowledged progress has been made. My focus this week is GBP related.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/GBPUSD-MONTHLY-03122017.png\"><img class=\"aligncenter size-large wp-image-10480\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/GBPUSD-MONTHLY-03122017-1024x398.png\" alt=\"\" width=\"1024\" height=\"398\" /></a>\r\n\r\n&nbsp;\r\n\r\nYou can see from the above Monthly GBP/USD chart that we are breaking out above a multi-year trend line (from August 2104).\r\n\r\nThis is big news if the push higher can be maintained and it should have a knock-on effect through all cable related pairs.\r\n\r\nOne other fact to note from the GBP/USD chart is to take a look at the November monthly candle. It is very, very bullish. In fact, when you look at the moves from the August 2016 lows the monthly candle pattern is trending nicely higher.\r\n\r\nThe PREMIUM SERVICE is currently trading EUR/GBP, GBP/AUD and GBP/JPY. I am as I have stated several times of late not 100% happy trading the USD at the moment and my focus is more away from the majors into the cross rates.\r\n\r\nCable will be my main focus this week along with the CAD (to initiate my “HEDGE OUT” trades).\r\n\r\nWe must note that the FED report via the FOMC on December 13th, with the ECB and BOE both on the following day 14th December. I believe Friday 15th December will be the last day with anything near normal trading volumes.\r\n\r\nAs you know I would usually write here to look at cross rate pairs as an option. My GBP trades are POSITION style trades for the long haul and my trading activity with cross rate currency pairs that already have limited liquidity will; be severely curtailed from now on given the reduced volumes ahead. The RISK of getting stuck with an increased volatile pair with reduced trading volumes is just not worth it in my opinion, no matter how much of a volatility junkie you may be.\r\n\r\nFinally, as we enter a period, when the USD should be demonstrating increased strength through the passing of the TAX BILL, but more importantly Central Bank divergence, as Yellen will probably raise U.S. interest rates on December 13th,\r\n\r\nWould it not seem common sense to maybe hold an emerging market cross? Maybe take a look at USD/ZAR, USD/TRY or USD/MXN.\r\n\r\nThe bottom line is to try to be cute. It is you versus the big banks.\r\n\r\nFLYNN: It is a RISK OFF event in my opinion. I need to see reaction on Monday this week to get a better picture. On Friday, last week when the news broke it was like watching headless chickens running around a farmyard. Kushner was linked which may have helped the markets steady. But who knows? The DXY was slammed on Friday following the news breaking, but like the markets pared back after a while (see below).\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/DXY-03122017.png\"><img class=\"aligncenter size-large wp-image-10474\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/DXY-03122017-1024x495.png\" alt=\"\" width=\"1024\" height=\"495\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n<ol start=\"3\">\r\n 	<li><strong> THE PREMIUM SERVICE:</strong></li>\r\n</ol>\r\nThe PREMIUM SERVICE is my own subscriber based Forex support service that offers subscribers my suggested trade set-ups and market commentaries.\r\n\r\nFull details of the PREMIUM SERVICE and costs to subscribe plus the various trade styles and how suggested trade set-ups are communicated can be found on my website landing page at <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a> by selecting the HISTORY &amp; PERFORMANCE tab.\r\n\r\n<u>CURRENT 2017 PREMIUM SERVICE PERFORMANCE:</u>\r\n\r\nPIPS TOTAL NOVEMBER 2017:  = +2,381 pips\r\nYEAR TO DATE:                              = +12,783 pips\r\nFurther information can be found by clicking TESTIMONIALS, PART-TIME TRADERS and FX PROMOTIONS tabs on my website  <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a>\r\n\r\nAlternatively, if you prefer to watch a video recording about the PREMIUM SERVICE, click the link below. You will be directed to a 40-minute webinar presentation entitled “AN INTRODUCTION TO THE PREMIUM SERVICE”.\r\n\r\n<a href=\"http://screencasts.weeklyfxdrivethru.com/watch/cb6fqiIAZX\">http://screencasts.weeklyfxdrivethru.com/watch/cb6fqiIAZX</a>\r\n\r\nTo subscribe to THE PREMIUM SERVICE, you will require a valid credit card.\r\n<ol start=\"4\">\r\n 	<li><strong> PREMIUM SERVICE SUBSCRIBERS ONLY:</strong></li>\r\n</ol>\r\n(Only SUBSCRIBERS to the PREMIUM SERVICE can view this section of the BLOG)\r\n\r\n<u>4:1. TRADING REVIEW:\r\n\r\n</u><u> </u><u>4:2. SENTIMENT CHART,</u><u> FUNDAMENTAL &amp; MACRO THOUGHTS</u><u>:\r\n</u>\r\n\r\n<u>4:3. TRADING PLANS:</u>\r\n\r\n<u>4:3.1. TRADING PLAN OVERVIEW THIS WEEK:</u>\r\n\r\n<u>4:3.2.  EXISTING CORE TRADES (PLANS &amp; STRATEGIES):</u>\r\n\r\n<u>4:4. CURRENT LIVE TRADES &amp; LIMIT ORDERS:</u>\r\n\r\n<u>4:5. FX BROKER NEWS with their MARKET FEEDBACK:</u>\r\n\r\n<strong> </strong>\r\n<ol start=\"5\">\r\n 	<li><strong> THE FINAL SHOTS:</strong></li>\r\n</ol>\r\n<u>WANT A FREE PREMIUM SERVICE SUBSCRIPTION:</u>\r\n\r\nIf you like what you have read in this blog and would like the chance to win a FREE SUBSCRIPTION valued at CAD$150.00, all you need to do is subscribe to my FREE NEWSLETTER (this blog), by adding your email address on my welcome page just below my cube logo at <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a>\r\n\r\n<u>PREMIUM SERVICE SUBSCRIPTIONS:</u>\r\n\r\nIf you like what you’ve read in this blog and should you want to go a stage further and subscribe to the PREMIUM SERVICE, this can be done on my website <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a> under the Tab SUBSCRIBE HERE.\r\n\r\nSubscribing to the PREMIUM SERVICE is not just about receiving a larger “DRIVE THRU” blog packed with more trading supporting information, my thoughts and ideas. There is much more to a subscription than those things. Check it all out under the tab HISTORY &amp; PERFORMANCE on my website <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a>\r\n\r\nAlternatively, if you prefer to watch a video recording about the PREMIUM SERVICE, click the link below. You will be directed to a 40-minute webinar presentation entitled “AN INTRODUCTION TO THE PREMIUM SERVICE”.\r\n\r\n<a href=\"http://screencasts.weeklyfxdrivethru.com/watch/cb6fqiIAZX\">http://screencasts.weeklyfxdrivethru.com/watch/cb6fqiIAZX</a>\r\n\r\nTo subscribe to THE PREMIUM SERVICE, you will require a valid credit card.\r\n\r\n<u>CLOSING THOUGHTS:</u>\r\n\r\nNothing more to add here, I have said enough except,\r\n\r\nAs usual…\r\n\r\nAlways remember longevity in Forex trading can only be achieved through trading with good RISK and MONEY MANAGEMENT, and above all set your position sizes in accordance with the size of your account and allow for some flexibility.\r\n\r\nScott Pickering\r\nThe Pip Accumulator\r\nTwitter: @pipaccumulator\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/disclaimer/\">http://weeklyfxdrivethru.com/disclaimer/</a>\r\n\r\nBLOG VERSION: #261 FREE NEWSLETTER\r\n3rd December 2017\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n&nbsp;', 'NO MATTER WHAT… BUY THE DIP REMAINS THE STRATEGY', '', 'inherit', 'closed', 'closed', '', '10494-revision-v1', '', '', '2017-12-02 17:25:55', '2017-12-02 22:25:55', '', 10494, 'https://weeklyfxdrivethru.com/10494-revision-v1/', 0, 'revision', '', 0);
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(10496, 1, '2017-12-02 17:26:16', '2017-12-02 22:26:16', '<strong>\r\n</strong>\r\n<ol>\r\n 	<li><strong>THE FIRST FEW SHOTS:</strong></li>\r\n</ol>\r\nWelcome.\r\n\r\nWhenever I type December I am already thinking about Christmas, New Year and not being too anal but next year’s trading plans.\r\n\r\nWith regards to my FX trading next year and my plans with the PREMIUM SERVICE, I will announce them on a “drip feed” basis in the “DRIVE THRU” blogs between now and the final one of 2017 due out on 17th December.\r\n\r\nSo, with my own version of the countdown just two more “DRIVE THRU’s” until Christmas after this one!!\r\n\r\nI have had feedback to the recent changes with the DRIVE THRU blog format. I would like to thank those who commented about the changes, there were some positives and some negatives to the new structure.\r\n<ul>\r\n 	<li>Some miss “THE SOAPBOX” - some don\'t because it’s NOT directly currency related.</li>\r\n 	<li>Some want more charts. These are reserved for PREMIUM SERVICE subscribers throughout the trading week, sorry.</li>\r\n 	<li>Some want both - more charts and more SOAPBOX!!</li>\r\n 	<li>How to trade the week favourably received.</li>\r\n</ul>\r\nThe blog takes me about 6-8 hours in total to write, compile and post. My wife, spell checks, grammar checks and signs off that I am NOT being too extreme. Then it has to be broken into the different formats for the various social media releases, update and post the WordPress versions and post the manual versions onto various Social Media formats. My goal is to reduce the time spent on production but have it just as focused but at the same time away from the usual FX reviews. I am a strong believer in differentiation.\r\n\r\nMoving on…\r\n\r\nPlease keep the feedback coming I love it and if you picked the DRIVE THRU blog up via TWITTER and you like my style and/or approach please feel free to re-tweet it!\r\n\r\nRemember you can always subscribe to the PREMIUM SERVICE to get more of my approach on a daily basis and at the same time get some help on making pips. My target for 2018 is 10,000 net pips…. I dare you!!\r\n\r\nNext…\r\n\r\nI enter December with 19 x LIVE TRADES and 14 x LIMIT ORDERS in position raring to go. Normally I would say, as we approach the end of the year it is time to slowly pullback and reduce RISK into the year end…. yeah right!\r\n\r\nAs soon as I plan something like this, opportunities come leaping out at me. It’s all about life choices and the FUNDAMENTALS, so for PREMIUM SERVICE subscribers please note it is very highly likely circa. 99.9% that there will be trading through the Christmas holidays, I just cannot see how it will not happen at this precise moment in time. So; get prepared for, paper hats on, turkey drumstick in hand and Jack Daniels by the side of the keyboard trading coming to a screen near you!\r\n\r\nEnough of that...\r\n\r\nMy sampling of my competition continues. Here is the best from this week’s experiences.\r\n\r\nHow to start this is difficult. I was trying to keep an open mind but pick me up off the floor!!\r\n\r\nI do despair sometimes. I know that I am NOT perfect and sometimes I can be off the wall son occasion with trades, but FFS, I have heard it all now.\r\n\r\nPlanets in alignment to move markets.\r\n\r\nIt’s not a question of Venus and Saturn, there has to be joke in here about Uranus.\r\n\r\nHMOG, you may as well place biscuits over potential trade set ups on paper, place them on the floor and let my Labrador boy, Ozzy eat them. The trade under the biscuit he picks first is the set up to trade!\r\n\r\nTalk about bollocks.\r\n\r\nMoving on…\r\n\r\nTHE PREMIUM SERVICE had another great month in November, and it is now only 272 pips behind last year’s record total at this stage of the year.\r\n\r\nNOVEMBER 2017 net TOTAL: 2,381 net pips\r\n2017 YEAR TO DATE: 12,783 net pips\r\n\r\nI do have a few trades hanging around with losses that I have carried forward into December. Most notable is a HEDGED 700 pip USD/CAD 3 separate trades position. The rest are small fry. So that contingent liability will have to be taken into consideration. The bottom line is however that I should remain (all things being equal) above my 10,000 pips per annum objective.\r\n\r\nMore details of the November performance can be found under the HISTORY &amp; PERFORMANCE tab on my welcome page.\r\n\r\nStaying in sales mode; now is a great time to join the PREMIUM SERVICE and be familiar and ready to go with the 2018 launch!!\r\n\r\nFinally, …\r\n\r\nIs anyone as sick of pigging BITCOIN as I am, my SPAM folders are full of it, for the remainder of 2017 there will be no mentions of fecking BITCOIN or crypto currencies in this blog. I don’t trade it, I am at the moment not interested in it, it is just a distraction to look at the charts and whilst I am sure it will remain around for some time, at the moment, I only have two words to say about BITCOIN… me arse!\r\n\r\nI did find this gem on twitter this week however…\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/BITCOIN-TWEET-03122017.png\"><img class=\"aligncenter size-large wp-image-10473\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/BITCOIN-TWEET-03122017-1024x466.png\" alt=\"\" width=\"1024\" height=\"466\" /></a>\r\n\r\n<strong> </strong>\r\n<ol start=\"2\">\r\n 	<li><strong>THE FX MARKET PLACE THIS WEEK:</strong></li>\r\n</ol>\r\n<u>\r\nTHIS WEEK’S ECONOMIC DATA RELEASES:</u>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/ECON-DATA-03122017.png\"><img class=\"aligncenter size-large wp-image-10478\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/ECON-DATA-03122017-1024x989.png\" alt=\"\" width=\"1024\" height=\"989\" /></a>\r\n\r\n<u>MY THOUGHTS ON THIS WEEK’S ECONOMIC DATA:</u>\r\n\r\nThere is swoop of data this week. It will be challenging to say the least. There is a great deal of Tier one data that should influence FX moves through to the year end.\r\n\r\nI think we have a pretty good understanding that the FED will raise come hell or high water, in fact “Hell” could freeze over but I still think Yellen will raise rates regardless.\r\n\r\nIn addition, of course we will continue to watch and listen to the fallout from the ex. TRUMP advisor Mike Flynn news that he will testify against the President of The United States. Having said that the “BUY THE FECKIN’ DIP” mentality even stands true when a possible impeachment case is on the horizon. After the Flynn revelations settled in and the Kushner links also came through, the markets then pared losses. No matter what the news, BUY THE DIP seems to always be the strategy in the U.S.\r\n\r\nIn no particular order: -\r\n\r\n<strong><u>AUD:</u></strong><u> CURRENT ACCOUNT, RETAIL SALES, RBA, GDP &amp; TRADE BALANCE</u>.\r\n\r\nJM&amp;J, this is what you call a “Clatter” of data. It’s all good stuff and highly directional.\r\n\r\nThe AUD has been under pressure to the downside of late. RBA policy via Governor Philip Lowe has been “Status Quo” policy neutral. The housing situation in Sydney causes huge concerns and Philip Lowe has made it clear he is no rush to raise rates but he has stated recently that the next direction of AUD rates will be higher.\r\n\r\nI rate Philip Lowe, I think he’s a thinker. I do NOT think he will want to rock any boats this week even if he has insider knowledge of any of the data numbers due to be released.\r\n\r\nRetail Sales will be a biggie. Last time around it was a 0%. If it does not post a positive number in the run up to Christmas, it never will. This is a key release in my opinion. The Current Account and Trade Balance are important but maybe not as relevant into the year-end. Like many things in December its pushed into the next Calendar year.\r\n\r\nGDP is as important as Retail Sales albeit it\'s a backward-looking number. Last quarter it was 0.8%, a minimum of a beat will be required.\r\n\r\nTrading the AUD will be awkward this week, with so much data. I enter with a lot of AUD short and long trades… so the PREMIUM SERVICE is HEDGED!!\r\n\r\n<strong><u>\r\nUSD:</u></strong><u> JOBS DATA.</u>\r\n\r\nRecently there has been no correlation between the private sector and public-sector jobs data. So, DO NOT trust that the ADP numbers will be an indication of NFP due Friday this week.\r\n\r\nThese numbers are always watched and noted, but in relation to FED policy and the FOMC interest rate decision due later this month, they are not as important in my eyes. I WILL NOT be trading NFP. I will watch and be a trading voyeur but as I have stated many, many times you more often than not have more luck with a national lottery than you do with trading FX on NFP day.\r\n\r\nAs for the numbers, as long as the 6 month averages are maintained I cannot see how the markets could be disappointed. There should be a chunk of part-time given the time of the year and this will create chaos and disorder for the initial knee-jerk reactions but when it’s all said and done its all about wage growth to show inflation. So, the Average Hourly Earnings with the NFP data on Friday will be key.\r\n\r\nI may have to hide my keyboard or take either Ozzy or Aoife for a walk as a distraction as I DO NOT want to trade NFP…. See you Friday then!\r\n\r\n&nbsp;\r\n\r\n<strong><u>CAD:</u></strong><u> TRADE BALANCE &amp; BOC.</u>\r\n\r\nI have two wives at the moment. My physical one and the other one is the USD/CAD. At times, I feel like I am married to three HEDGED TRADES as well. My losses are fixed at 700 pips while I wait to enter my “HEDGE OUT” trades to trigger.\r\n\r\nThe GDP and Jobs Data last Friday was a real pain in the arse, a nice little pre-data spike could have triggered my short trades. I am now I think probably waiting on this week’s data to hopefully get my entry price!\r\n\r\nWith regards to the data.\r\n\r\nThe TRADE BALANCE must move back towards positive and below CAD$3 Billion. It was April when it was last below CAD$2 Billion. It has a history of failing to meet forecasts.\r\n\r\nStephen Poloz has been a downbeat gloomy little fecker of late and it’s about time he had a spiked egg nog to cheer him up.\r\n\r\nWith the FED raising in December, there will be some pressure to follow suit. I just cannot see it this week. However, Poloz likes to surprise. One cannot rule it out. I would personally be astonished and would expect the next hike in Q1 2018.\r\n\r\nI do however think he will be a little more upbeat on the CAD economy, he should be with last week’s data and also with the run up to the year end and the Christmas holidays.\r\n\r\n&nbsp;\r\n\r\n<u>USD MAJORS – SUPPORT &amp; RESISTANCE LEVELS with BIAS:</u>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/TCHART-03122017.png\"><img class=\"aligncenter size-full wp-image-10479\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/TCHART-03122017.png\" alt=\"\" width=\"1016\" height=\"888\" /></a>\r\n\r\n&nbsp;\r\n\r\n<u>USD – TRADING CHARTS: </u>\r\n\r\nMore often than not I will use DAILY CHARTS for my analysis. My commentary and thoughts for each trading pair are above the charts.\r\n\r\n<strong>\r\n<u>EUR/USD:</u>\r\n</strong>\r\nNot much of a change in my thoughts or the chart that sits below. I think that I may have changed the colours of the lines that\'s about it!\r\n\r\nGREEN LINE = support at 1.1817\r\nPURPLE LINE = my bull / bear line at 1.1880\r\nDARK RED = resistance at 1.1960\r\nBLUE LINE = recent highs at 1.2090\r\n\r\nThe upward channel remains pretty much intact. We have been in a range of 1.1817 to 1.1960 in the past week.\r\n\r\nWe need to obviously break above or below to get this pair moving along. I have this feeling that now we are in December it will take either NFP this week or the ECB the week following to get things moving and give us a direction to follow.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/EURUSD-D-03122017.png\"><img class=\"aligncenter size-large wp-image-10482\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/EURUSD-D-03122017-1024x410.png\" alt=\"\" width=\"1024\" height=\"410\" /></a>\r\n\r\n&nbsp;\r\n\r\n<strong><u>GBP/USD:</u></strong>\r\n\r\nI had been writing all week about the 1.3450 level being broken and creating a short squeeze.\r\n\r\nThe chart below, shows a possible “CUP &amp; HANDLE” pattern being formed with a measured move to 1.3900.\r\n\r\nWe must always temper the enthusiasm vis-à-vis the cable as it is always a news release away from a BREXIT announcement that can send it 100 pips lower or 100 pips higher. At the moment, there is a huge belief and more importantly a commitment to see serious progress acknowledged prior to the end of the year. This has me leaning more to the long side.\r\n\r\nThe 76.4% Fibonacci level that sits at 1.3508 is a key level. This pair was obviously spooked on the Flynn news last Friday. A break above this level should see the pair move towards a possible 1.4000 target beyond the CUP &amp; HANDLE pattern, at the golden Fib. level of 161.8%.\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/GBPUSD-D-03122017.png\"><img class=\"aligncenter size-large wp-image-10483\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/GBPUSD-D-03122017-1024x410.png\" alt=\"\" width=\"1024\" height=\"410\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n<strong><u>AUD/USD:</u></strong>\r\n\r\nThe down channel remains intact albeit it was temporarily broken on the Flynn news. I am still bearish this pair and see 1.7640 as a great level to short from but even with the Flynn revelations this level failed to be achieved.\r\n\r\nWe are in a tight trading range between the PURPLE lines on the chart 0.7530 to 0.7640.\r\n\r\nThe RBA meets this week. I am not expecting any change in policy and I expect Philip Lowe to release a statement that is once again neutral.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/AUDUSD-D-03122017.png\"><img class=\"aligncenter size-large wp-image-10481\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/AUDUSD-D-03122017-1024x410.png\" alt=\"\" width=\"1024\" height=\"410\" /></a>\r\n\r\n&nbsp;\r\n\r\n<strong><u>NZD/USD:\r\n</u></strong>\r\nWe have a bullish engulfing candle from last Friday. This usually means that a move higher should continue to be seen. Of late, these candles have NOT produced the follow through that is usually seen.\r\n\r\nWe are range bound between the two PURPLE lines of 0.6780 and 0.6980.\r\n\r\nTechnically, I think that this move higher just gives us a better price to short from as politically New Zealand has issues to overcome and whilst this uncertainty remains in place the pressure to the downside will always prevail.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/NZDUSD-D-03122017.png\"><img class=\"aligncenter size-large wp-image-10484\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/NZDUSD-D-03122017-1024x410.png\" alt=\"\" width=\"1024\" height=\"410\" /></a>\r\n\r\n&nbsp;\r\n\r\n<strong><u>USD/CAD:</u></strong><strong>\r\n</strong>\r\nBugger…\r\n\r\nI really wanted to be short this pair, but I was looking for a level closer to the 200 DAY SMA and the 61.8% Fibonacci retracement level.\r\n\r\nThat is a “helluva” BIG RED candle on the chart. Usually BIG RED candles are followed by further BIG RED candles.\r\n\r\nThe trading range is 1.2660 to 1.2915.\r\n\r\nWe have the BOC this week, I just can’t see Poloz being dovish. I see him more positive than of late and this may send the USD/CAD lower. Ideally from my point of view I want him to dismiss last Friday’s data as “Mickey Mouse:” and send the USD/CAD back to 1.3000. I just can’t envisage that happening.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/USDCAD-D-03122017.png\"><img class=\"aligncenter size-large wp-image-10485\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/USDCAD-D-03122017-1024x410.png\" alt=\"\" width=\"1024\" height=\"410\" /></a>\r\n\r\n&nbsp;\r\n\r\n<strong><u>USD/CHF:</u></strong><strong>\r\n</strong>\r\nI am still dreaming of bull flags and pennants with this pair. The measured move is to 1.0350, which by interest is a previous level of resistance from last year.\r\n\r\nIf 0.9700 gives way on the back of the flight to safety move which has affected this pair following the “FLYNN” revelations, we could see a move back to the recent lows around 0.9400.\r\n\r\nBe ready for a snap back move with this pair its correlation with its inverse relationship with the EUR/USD is out of sync. But make no mistake, on uncertainty the flight to buy GOLD also affects the CHF.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/USDCHF-03122017.png\"><img class=\"aligncenter size-large wp-image-10486\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/USDCHF-03122017-1024x410.png\" alt=\"\" width=\"1024\" height=\"410\" />\r\n</a>\r\n\r\n<strong><u>USD/JPY:</u></strong><u>\r\n</u>\r\nThis pair was hit hard with the “FLYNN” news.\r\n\r\nOn Friday that is almost a 160-pip candle from 111.40 to 113.00. Quite a move for this pair. I think that the trading range to work with is 110.80 to 113.00.  This pair will be affected the most as equities and bonds fly around on the news headlines as they are released.\r\n\r\nIt goes without saying, do not get too heavy in a position size as when the market is headline driven moves can whip around very quickly.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/USDJPY-D-03122017.png\"><img class=\"aligncenter size-large wp-image-10487\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/USDJPY-D-03122017-1024x410.png\" alt=\"\" width=\"1024\" height=\"410\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n<u>MY THOUGHTS ON HOW TO PLAY FX THIS WEEK:</u>\r\n\r\nWe are now in December. This is historically, a strange month, Christmas parties, sexual harassment claims, lawyers will be on 24x7 call outs, and from a trading perspective volatility tends to thin out as the market becomes less liquid.\r\n\r\nWe do have a few interesting snippets however to keep traders at their desks. The GREED factor will certainly come into play with the institutions and for us, the poor retail traders we have to be savvy and selective.\r\n\r\nNews items that are driving the markets have been based around the US TAX BILL, BREXIT and on Friday last week ex. TRUMP National Security advisor, Mike Flynn announced that he will testify against the President. BREXIT will play on for the next two years, but this month it is crucial for UK Prime Minister, Theresa May to see acknowledged progress has been made. My focus this week is GBP related.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/GBPUSD-MONTHLY-03122017.png\"><img class=\"aligncenter size-large wp-image-10480\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/GBPUSD-MONTHLY-03122017-1024x398.png\" alt=\"\" width=\"1024\" height=\"398\" /></a>\r\n\r\n&nbsp;\r\n\r\nYou can see from the above Monthly GBP/USD chart that we are breaking out above a multi-year trend line (from August 2104).\r\n\r\nThis is big news if the push higher can be maintained and it should have a knock-on effect through all cable related pairs.\r\n\r\nOne other fact to note from the GBP/USD chart is to take a look at the November monthly candle. It is very, very bullish. In fact, when you look at the moves from the August 2016 lows the monthly candle pattern is trending nicely higher.\r\n\r\nThe PREMIUM SERVICE is currently trading EUR/GBP, GBP/AUD and GBP/JPY. I am as I have stated several times of late not 100% happy trading the USD at the moment and my focus is more away from the majors into the cross rates.\r\n\r\nCable will be my main focus this week along with the CAD (to initiate my “HEDGE OUT” trades).\r\n\r\nWe must note that the FED report via the FOMC on December 13th, with the ECB and BOE both on the following day 14th December. I believe Friday 15th December will be the last day with anything near normal trading volumes.\r\n\r\nAs you know I would usually write here to look at cross rate pairs as an option. My GBP trades are POSITION style trades for the long haul and my trading activity with cross rate currency pairs that already have limited liquidity will; be severely curtailed from now on given the reduced volumes ahead. The RISK of getting stuck with an increased volatile pair with reduced trading volumes is just not worth it in my opinion, no matter how much of a volatility junkie you may be.\r\n\r\nFinally, as we enter a period, when the USD should be demonstrating increased strength through the passing of the TAX BILL, but more importantly Central Bank divergence, as Yellen will probably raise U.S. interest rates on December 13th,\r\n\r\nWould it not seem common sense to maybe hold an emerging market cross? Maybe take a look at USD/ZAR, USD/TRY or USD/MXN.\r\n\r\nThe bottom line is to try to be cute. It is you versus the big banks.\r\n\r\nFLYNN: It is a RISK OFF event in my opinion. I need to see reaction on Monday this week to get a better picture. On Friday, last week when the news broke it was like watching headless chickens running around a farmyard. Kushner was linked which may have helped the markets steady. But who knows? The DXY was slammed on Friday following the news breaking, but like the markets pared back after a while (see below).\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/DXY-03122017.png\"><img class=\"aligncenter size-large wp-image-10474\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/DXY-03122017-1024x495.png\" alt=\"\" width=\"1024\" height=\"495\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n<ol start=\"3\">\r\n 	<li><strong> THE PREMIUM SERVICE:</strong></li>\r\n</ol>\r\nThe PREMIUM SERVICE is my own subscriber based Forex support service that offers subscribers my suggested trade set-ups and market commentaries.\r\n\r\nFull details of the PREMIUM SERVICE and costs to subscribe plus the various trade styles and how suggested trade set-ups are communicated can be found on my website landing page at <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a> by selecting the HISTORY &amp; PERFORMANCE tab.\r\n\r\n<u>CURRENT 2017 PREMIUM SERVICE PERFORMANCE:</u>\r\n\r\nPIPS TOTAL NOVEMBER 2017:  = +2,381 pips\r\nYEAR TO DATE:                              = +12,783 pips\r\nFurther information can be found by clicking TESTIMONIALS, PART-TIME TRADERS and FX PROMOTIONS tabs on my website  <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a>\r\n\r\nAlternatively, if you prefer to watch a video recording about the PREMIUM SERVICE, click the link below. You will be directed to a 40-minute webinar presentation entitled “AN INTRODUCTION TO THE PREMIUM SERVICE”.\r\n\r\n<a href=\"http://screencasts.weeklyfxdrivethru.com/watch/cb6fqiIAZX\">http://screencasts.weeklyfxdrivethru.com/watch/cb6fqiIAZX</a>\r\n\r\nTo subscribe to THE PREMIUM SERVICE, you will require a valid credit card.\r\n<ol start=\"4\">\r\n 	<li><strong> PREMIUM SERVICE SUBSCRIBERS ONLY:</strong></li>\r\n</ol>\r\n(Only SUBSCRIBERS to the PREMIUM SERVICE can view this section of the BLOG)\r\n\r\n<u>4:1. TRADING REVIEW:</u>\r\n\r\n<u> </u><u>4:2. SENTIMENT CHART,</u><u> FUNDAMENTAL &amp; MACRO THOUGHTS</u><u>:\r\n</u>\r\n\r\n<u>4:3. TRADING PLANS:</u>\r\n\r\n<u>4:3.1. TRADING PLAN OVERVIEW THIS WEEK:</u>\r\n\r\n<u>4:3.2.  EXISTING CORE TRADES (PLANS &amp; STRATEGIES):</u>\r\n\r\n<u>4:4. CURRENT LIVE TRADES &amp; LIMIT ORDERS:</u>\r\n\r\n<u>4:5. FX BROKER NEWS with their MARKET FEEDBACK:</u>\r\n\r\n<strong> </strong>\r\n<ol start=\"5\">\r\n 	<li><strong> THE FINAL SHOTS:</strong></li>\r\n</ol>\r\n<u>WANT A FREE PREMIUM SERVICE SUBSCRIPTION:</u>\r\n\r\nIf you like what you have read in this blog and would like the chance to win a FREE SUBSCRIPTION valued at CAD$150.00, all you need to do is subscribe to my FREE NEWSLETTER (this blog), by adding your email address on my welcome page just below my cube logo at <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a>\r\n\r\n<u>PREMIUM SERVICE SUBSCRIPTIONS:</u>\r\n\r\nIf you like what you’ve read in this blog and should you want to go a stage further and subscribe to the PREMIUM SERVICE, this can be done on my website <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a> under the Tab SUBSCRIBE HERE.\r\n\r\nSubscribing to the PREMIUM SERVICE is not just about receiving a larger “DRIVE THRU” blog packed with more trading supporting information, my thoughts and ideas. There is much more to a subscription than those things. Check it all out under the tab HISTORY &amp; PERFORMANCE on my website <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a>\r\n\r\nAlternatively, if you prefer to watch a video recording about the PREMIUM SERVICE, click the link below. You will be directed to a 40-minute webinar presentation entitled “AN INTRODUCTION TO THE PREMIUM SERVICE”.\r\n\r\n<a href=\"http://screencasts.weeklyfxdrivethru.com/watch/cb6fqiIAZX\">http://screencasts.weeklyfxdrivethru.com/watch/cb6fqiIAZX</a>\r\n\r\nTo subscribe to THE PREMIUM SERVICE, you will require a valid credit card.\r\n\r\n<u>CLOSING THOUGHTS:</u>\r\n\r\nNothing more to add here, I have said enough except,\r\n\r\nAs usual…\r\n\r\nAlways remember longevity in Forex trading can only be achieved through trading with good RISK and MONEY MANAGEMENT, and above all set your position sizes in accordance with the size of your account and allow for some flexibility.\r\n\r\nScott Pickering\r\nThe Pip Accumulator\r\nTwitter: @pipaccumulator\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/disclaimer/\">http://weeklyfxdrivethru.com/disclaimer/</a>\r\n\r\nBLOG VERSION: #261 FREE NEWSLETTER\r\n3rd December 2017\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n&nbsp;', 'NO MATTER WHAT… BUY THE DIP REMAINS THE STRATEGY', '', 'inherit', 'closed', 'closed', '', '10494-revision-v1', '', '', '2017-12-02 17:26:16', '2017-12-02 22:26:16', '', 10494, 'https://weeklyfxdrivethru.com/10494-revision-v1/', 0, 'revision', '', 0),
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(10502, 1, '2017-12-24 10:21:05', '2017-12-24 15:21:05', '<pre></pre>\n<p style=\"text-align: left;\"><span style=\"font-size: 12pt;\"><span style=\"font-family: arial, helvetica, sans-serif;\">Hello,</span></span></p>\nFrom time to time I will offer PROMOTIONS to join the PREMIUM SERVICE.\n\nBelow are the details of the BUY ONE GET FROM FREE promotion that is currently running until 31st January 2018 at 5PM EST.\n\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/PREM-SERV-BIG-LOGO.png\"><img class=\"aligncenter wp-image-10505\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/PREM-SERV-BIG-LOGO-1024x395.png\" alt=\"\" width=\"578\" height=\"223\" /></a>\n<p style=\"text-align: center;\"><strong><span style=\"font-size: 20pt;\">“BUY ONE…GET ONE FREE”</span></strong></p>\nPROMOTION BASICS:\nPROMOTION PERIOD:         Until 5PM EST 31st January 2018.\nAPPLICABLE PRODUCTS:    6 and 12 month subscriptions.\n\nPROMOTION DETAILS:\n<ol>\n 	<li>Purchase a 6 or 12 month subscription and your PREMIUM SERVICE subscription period will be extended FREE OF CHARGE by the term of your subscription purchase.</li>\n 	<li>Buy a 6-month subscription for CAD$800.00, you will be confirmed as 12 months.</li>\n 	<li>Buy a 12-month subscription for CAD$1,250.00, you will be confirmed as 24 months (2 Years).</li>\n 	<li>ALL subscriptions paid for regardless of date between now and January 8th will not have their subscription period started until January 13th, 2018, which is the date of the first “DRIVE THRU” blog next year.Whilst I cannot guarantee much trading between now and early January any trading that does take place you will be a part of and, obviously in this interim period you will have full access to the website to familiarize yourself the location of the content and the content itself.</li>\n 	<li>All subscription periods etc. will be confirmed in the PREMIUM SERVICE welcome pack which will be emailed to you soon after your subscription is confirmed.</li>\n</ol>\nThe PREMIUM SERVICE has beaten its 10,000 net pip objective each year since inception.\n\nYou can find more information about how the PREMIUM SERVICE works by selecting the HISTORY TAB on my home page\n\nBelow, I provide the trading summaries year by year since 2014  for this year at the moment it is correct up until the 30th November 2017. These excel spread sheets show you net profit positions after allowing for costs including the annual subscription to the PREMIUM SERVICE.\n\nI hope that you find this information useful to making your decision. There has NEVER been a better time to subscribe and get support for your trading. If you want to join and  want to keep the PREMIUM SERVICE trades separate from your own, may I suggest clicking the link on the banner of one of my recommended brokers, VANTAGE FX or HANTEC MARKETS. By joining from my website you will be part of the growing PREMIUM SERVICE / DRIVE THRU team.\n\n&nbsp;\n\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/PS-NET-PROFITS-2017-COMPLETE.png\"><img class=\"aligncenter size-large wp-image-10723\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/PS-NET-PROFITS-2017-COMPLETE-972x1024.png\" alt=\"\" width=\"972\" height=\"1024\" /></a>\n\n&nbsp;\n\n&nbsp;\n\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/NET-PS-2016.png\"><img class=\"aligncenter size-large wp-image-10636\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/NET-PS-2016-968x1024.png\" alt=\"\" width=\"968\" height=\"1024\" /></a>\n\n&nbsp;\n\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/NET-PS-2015.png\"><img class=\"aligncenter size-large wp-image-10635\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/NET-PS-2015-1024x1008.png\" alt=\"\" width=\"1024\" height=\"1008\" /></a>\n\n&nbsp;\n\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/NET-PS-2014.png\"><img class=\"aligncenter size-large wp-image-10634\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/NET-PS-2014-1024x1013.png\" alt=\"\" width=\"1024\" height=\"1013\" /></a>\n\n&nbsp;\n\nI hope that you find this promotion to be exactly what you are looking for, for your trading in 2018 and beyond.\n\nTo join the PREMIUM SERVICE, simply visit the SUBSCRIBE HERE TAB on my home page. All you need is a valid credit card, everything will be confirmed in your WELCOME PACK.\n\nScott Pickering\nThe Pip Accumulator\n24th December 2017.\n<h4></h4>', 'Promotions', '', 'inherit', 'closed', 'closed', '', '4984-autosave-v1', '', '', '2017-12-24 10:21:05', '2017-12-24 15:21:05', '', 4984, 'https://weeklyfxdrivethru.com/4984-autosave-v1/', 0, 'revision', '', 0),
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(10526, 1, '2017-12-09 08:26:54', '2017-12-09 13:26:54', '<strong>\r\n</strong>\r\n<ol>\r\n 	<li><strong>THE FIRST FEW SHOTS:</strong></li>\r\n</ol>\r\nI think that it’s fair to say that economic data has a back seat at the moment. It’s all about geopolitical news and the effect of these news items that are driving the markets at the moment. When I say driving, I really mean pushing one way then the other most times without reason.\r\n\r\nThe markets are not as liquid now as they were 12 months ago, and, this is evidenced as we enter periods like now, where it is largely historically recognized that many large institutions are preparing to run down their books into the year-end ready for the start of next year.\r\n\r\nTRUMP and BREXIT headlines have dominated all week. It seems really strange to write that when the past week included U.S. Non-Farm Payrolls.\r\n\r\nTRUMP goes from controversy to controversy, investigation to investigation and the great negotiator is still without a single campaign promise delivered. The latest from the great negotiator was that we had an 11th hour deal to fund the government for two weeks to prevent a shutdown, as once again the debt ceiling was reached. Not out of the woods yet, a permanent solution is required by December 22nd to enable the government to function moving forward.\r\n\r\nYou could not make this up. It is a reality TV program played out in front of the world with the oval office as the studio.\r\n\r\nWith regards to BREXIT, last Friday we had an agreement from Juncker and Barnier that enough progress had been made on phase one of the negotiations that the UK and the EU negotiators could now move to phase two.\r\n\r\nAt what cost?\r\n<p style=\"text-align: center;\"><strong>RED LINES &amp; DEADLINES = CAN KICKED DOWN THE ROAD</strong><strong> </strong></p>\r\nThe ECB needs success as much as Theresa May with the RED LINES and DEADLINES set by both teams ahead of the EU 27 member states 2017 Christmas party aka December Council Meeting.\r\n\r\nThe ECB therefore did what they are master of… FUDGING, to you and me it’s also known as KICKIN’THE CAN DOWN THE ROAD.\r\n\r\nIt looks like the Irish border issue has been kicked down the road. We were provided with very little detail and this was the stumbling block. All parties, Theresa May (UK PM…by a thread), Michel Barnier (EU Chief Negotiator), Jean Claude Junker (President of the EU Commission), Leo Varadkar (IRISH PM) and Arlene Foster (DUP) placed a positive spin on the fact enough progress had been made but very light on specifics.\r\n\r\nThe fact that both Barnier and Juncker had broad smiles in the press conferences that followed the announcement, makes me think that the UK was screwed. This will no doubt roll on and there will be fallout, I think that’s a given.\r\n\r\nFrom an FX perspective, the trading around the BREXIT agreement was no more than a buy the rumour sell the news event. Cable basically nosedived. After all was said and done it moved over 140 pips lower from the highs at one point.\r\n\r\n<strong><u>NOTE:</u></strong>  With regards to cables move lower, this was more than severe profit taking in my opinion.\r\n\r\nFinally, …\r\n\r\nI picked this up out of my twitter feed last week…. made me giggle.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/TWITTER-NOTE-10122017.png\"><img class=\"aligncenter size-large wp-image-10507\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/TWITTER-NOTE-10122017-1024x929.png\" alt=\"\" width=\"1024\" height=\"929\" /></a>\r\n\r\n<strong> </strong>\r\n<ol start=\"2\">\r\n 	<li><strong>MY (THE PREMIUM SERIVICE) TRADING LAST WEEK:</strong></li>\r\n</ol>\r\nI spent most of last week writing to PREMIUM SERVICE subscribers about how I wanted to reduce RISK ahead of NFP. I am pleased to say, I cut out lots of trades before the monthly lottery day aka NFP! I was very successful in reducing what I call circumstantial RISK prior to the NFP data release. I just had to manage my longer-term positions of AUD/NZD and USD/CAD.\r\n\r\nI did not as I indicated to PREMIUM SERVICE subscribers trade NFP. I find that I only get annoyed and frustrated with NFP moves which linger into and hover over the weekends. This may be more of thing of the past but I just hate the knee-jerk moves and then two/ three hours of a chop fest that follows. It just does not suit my style at all.\r\n\r\nTrading this month so far has been a little strange. I am conscious that I want to reduce RISK heading into the Christmas holidays. This coming week is, in my opinion, the last week of this year with decent liquidity and I do not want to be carrying multiple trades forward or having to manage a huge quantity over the Christmas holidays.\r\n\r\nEconomic and Central Bank data this week makes it a huge week of importance as well. At the same time, I realise that most of my core positions of the USD/CAD and AUD/NZD will be probably be carried forward into 2018. I have a few USD/CAD trades that I will unload next week. I expect my pip net profit for 2017 to lie a little lower than current levels once I cull!\r\n\r\n<u>PERFORMANCE 2017 TO DATE:</u>\r\n\r\nDecember 2017 net TOTAL:     +536 net pips\r\n2017 YEAR TO DATE:                +13,319 net pips\r\n\r\nIn sales mode; I am now planning for 2018. I will have live trades through the Christmas and New Year holidays so I will be on twitter and probably email.\r\n\r\nIn 2018, the PREMIUM SERVICE will return with a new TRADE STYLE option for subscribers to consider and the SUBSCRIBER SECTION of the “DRIVE THRU” will be larger with greater emphasis on sentiment and market direction. Therefore, now is a great time to join the PREMIUM SERVICE get familiar and ready to go with the 2018 launch!!\r\n\r\n<strong> </strong><strong> </strong>\r\n<ol start=\"3\">\r\n 	<li><strong>THE FX MARKET PLACE THIS WEEK:</strong></li>\r\n</ol>\r\n<u>\r\n3:1. THIS WEEK’S ECONOMIC DATA RELEASES:</u>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/ECON-DATA-10122017.png\"><img class=\"aligncenter size-large wp-image-10508\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/ECON-DATA-10122017-1024x985.png\" alt=\"\" width=\"1024\" height=\"985\" /></a>\r\n\r\n<u>\r\n3:2. MY THOUGHTS ON THIS WEEK’S ECONOMIC DATA:</u>\r\n\r\nThis week I would say is probably one of if not the most important weeks for trading FX in 2017. We should get more than a feeling for direction into early 2018 given the information that should be provided.\r\n\r\nWe have Central Bank interest rate decisions and market commentaries from the FED, ECB, BOE and SNB.\r\n\r\nWe also have, Consumer Prices from the U.S. and the UK, Jobs Data from Australia, Average Earnings Data in the UK plus Producer Prices and Retail Sales data from the U.S. It is without doubt a packed week.\r\n\r\nThe most important part from my perspective however is to hear about any changes in Central Bank monetary policies moving into 2018.\r\n\r\nIn no particular order: -\r\n\r\n<strong><u>GBP:</u></strong><u> CPi, AVERAGE EARNINGS, RETAIL SALES &amp; THE BOE</u>.\r\n\r\nI do not for a minute believe that Mark Carney or any members of the MPC will be looking to amend interest rates, however, when the BOE announces on Thursday, I do expect that by that time we should have a pretty good idea about the state of the UK economy.\r\n\r\nThere is still inflation in the UK and CPI on Tuesday will give us the nod on whether it has topped out or not. The last reading was 3.0%.\r\n\r\nAverage Earnings is one that will be watched very, very closely. With inflation at 3.0% last time around earnings were lagging at 2.2%. For it to be a HAPPY CHRISTMAS the BOE and the government will at least want the numbers to match or be very close.\r\n\r\nRetail Sales should be positive and a beat. If a country cannot have a good retail sales number leading up to Christmas, it never will.\r\n\r\nInterest rates should remain at 0.50% and the MPC vote at 7-2. Any deviations from these numbers and the cable will be off running around like a headless chicken.\r\n\r\nGiven the “low on details” BREXIT phase one deal completed last Friday, I am once again having mixed views on the GBP.\r\n\r\nThis week’s data is therefore crucial to me moving forward.\r\n\r\n<strong><u>\r\nUSD:</u></strong><u> CPi, PPi, RETAIL SALES and the FOMC.</u>\r\n\r\nI am just not sure what to make of the USD at the moment. My brain tells me one thing and my gut another. I have read a lot of analyst reports for 2018 and there are institutions expecting 3 possibly even 4 further interest rate increases on top of the one due this week, which would take the U.S. FED Funds Rate to 1.50%.\r\n\r\nThis time next year it could be ready to move to 2.50%.\r\n\r\nWhat is at the back of my mind is that there is NO INFLATION around. Last week’s Average Hourlies released at the same time as the NFP data was once again missing signs of inflation.\r\n\r\nThis week CPi needs to beat 0.1% to show that there is some life in the economy vis-à-vis inflation. Producer prices and Retail Sales need to show growth as well. This has been lacking more or less of late. With this as a backdrop I just cannot see multiple rate hikes on the horizon. This must be a fear for the FED moving forward. All this talk of transitory stands for nothing it would appear.\r\n\r\nSo, Janet Yellen has her final Press Conference this week and she will announce a 0.25% rate increase. If the FED does not raise there will be blood!\r\n\r\n&nbsp;\r\n\r\n<strong><u>EUR:</u></strong><u> INTEREST RATE ANNOUNCEMENT and PRESS CONFERENCE.</u>\r\n\r\nThe final Central Bank announcement of the week is Mario Draghi at the ECB. Fair play to Mario Draghi of late, at all speeches he has watched his “p’s and q’s” very closely.\r\n\r\nIt looks from a trading perceptive that to keep a lid on the single currencies strength below 1.2000 is key objective, both he and the ECB council members will be happy that recent policy initiatives have worked out very well putting a cap on EURO strength.\r\n\r\nI suspect that Draghi will be popping the Dom Perignon should the FED raise rates next Wednesday and the USD strengthen across the board, ahead of his press conference the following day.\r\n\r\nI am expecting a boring press conference and speech from Draghi. Happy Christmas, thanks for coming there are mince pies for everyone at the back of the room type of stuff. But… you just never know with the ECB. There is a history of council members breaking ranks and noting their dissent to undermine Mario Draghi. For this reason, this week, this event cannot be missed.\r\n\r\n&nbsp;\r\n\r\n<u>3:3. USD MAJORS – SUPPORT &amp; RESISTANCE with BIAS:</u>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/TCHART-10122017.png\"><img class=\"aligncenter size-large wp-image-10509\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/TCHART-10122017-1024x889.png\" alt=\"\" width=\"1024\" height=\"889\" /></a>\r\n\r\n&nbsp;\r\n\r\n<u>3:4. USD – TRADING CHARTS: </u>\r\n\r\nMore often than not I will use DAILY CHARTS for my analysis. My commentary and thoughts for each trading pair are above the charts.\r\n\r\nCANDLE ANALYSIS: I have now added my thoughts based on the closing daily candle to the weeks trading.\r\n\r\n&nbsp;\r\n\r\n<strong>\r\n<u>EUR/USD:</u>\r\n</strong>\r\nDAILY CLOSING CANDLE: BULLISH\r\n\r\nThe single currency has been in sell mode this past week, with USD strength returning to the markets ahead of the anticipated rate increase from the FOMC this coming Wednesday.\r\n\r\nSupport at 61.8% Fibonacci level of 1.1701 looks to be acting like a “Star Trek” tractor beam sucking the pair lower. I see no reason why this trend lower should stop in the run up to the FOMC. Below 1.1701, the horizontal support / resistance level around 1.1650-60 is next up. This could be a great level ahead from which a reversal could start.\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/EURUSD-D-10122017.png\"><img class=\"aligncenter size-large wp-image-10519\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/EURUSD-D-10122017-1024x534.png\" alt=\"\" width=\"1024\" height=\"534\" /></a>\r\n\r\n&nbsp;\r\n\r\n<strong><u>GBP/USD:</u></strong>\r\n\r\nDAILY CLOSING CANDLE: VERY BEARISH\r\n\r\nRight now… I am not sure that whatever pattern or measured move, pivot point, Fibonacci level etc. you think about or can see on a chart means too much for the next few days. This pair will be driven by political news rather than economic news or technical data.\r\n\r\nLooking at the chart below, 1.3340 looks to have been an area where buyers and sellers have come together in the past to compete over directional control.\r\n\r\nRecently, I had been long this pair and quite bullish looking forward. After the BREXIT phase one deal (of sorts) I think there are so many questions unanswered that it is hard to remain bullish. The uncertainties surrounding the BREXIT to a large extent still remain, and frankly when you consider arriving at stage one “the easy way” has been like drawing blood from a stone… The next phase includes trade agreements so it can only be harder in my opinion.\r\n\r\nWe have a bull flag on the chart but I just cannot take it seriously at the moment.\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/GBPUSD-D-10122017.png\"><img class=\"aligncenter size-large wp-image-10520\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/GBPUSD-D-10122017-1024x534.png\" alt=\"\" width=\"1024\" height=\"534\" /></a>\r\n\r\n<strong><u>AUD/USD:</u></strong>\r\n\r\nDAILY CLOSING CANDLE: BEARISH\r\n\r\nWe have a double top pattern in play.\r\n\r\nFundamentally some comments from the RBA make me think that the bottom may have been in around the 0.7500 level. But last week on great data the AUD/USD was rejected at 0.7640 and now following USD strength we have slipped below the 0.7520 level, and broken back to re-test.\r\n\r\nThis means in usual trading conditions that the double top measured move should be in play down to 0.7420.\r\n\r\nPersonally, in my opinion the markets are twitchy at the moment, at times brutal and commodity currencies have been acting independently of the EUR/USD so I am not convinced that this move will happen.\r\n\r\nObviously, a break back above 0.7520-40 places the move in doubt.\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/AUDUSD-D-10122017.png\"><img class=\"aligncenter size-large wp-image-10518\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/AUDUSD-D-10122017-1024x534.png\" alt=\"\" width=\"1024\" height=\"534\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n<strong><u>NZD/USD:</u></strong>\r\n\r\nDAILY CLOSING CANDLE: BEARISH (INVERTED HAMMER)<strong><u>\r\n</u></strong>\r\nIf you like to play “ping pong” you must love this pair at the moment. My thoughts are that we are heading to the John Key low of 0.6600. It just seems to be taking an eternity.\r\n\r\nLast week some words from Grant aka “Frank (Some Central Banks do have them)” Spencer, stopped the Kiwi’s move lower.\r\n\r\nFor now we are range bound 0.6780 to 0.6960.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/NZDUSD-D-11122017.png\"><img class=\"aligncenter size-large wp-image-10521\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/NZDUSD-D-11122017-1024x534.png\" alt=\"\" width=\"1024\" height=\"534\" /></a>\r\n\r\n&nbsp;\r\n\r\n<strong><u>USD/CAD:</u></strong>\r\n\r\nDAILY CLOSING CANDLE: INDECISION (SPINNING TOP)\r\n\r\nBugger…\r\n\r\nI am HEDGED this pair and short some more!!  Sooner rather than later I am going to have to make the TRADE DECISION. I still have capacity before I reach my RISK TOLERANCE limit so I will wait for now, but it annoys me every time I open up the broker account that trades are inside. Maybe its best not to open that broker account!!\r\n\r\nIt looked to me originally that a confluence of Fibonacci levels would have held this pair at 1.2800. Next was 1.2840 and now my thoughts are 1.12910 the recent highs although my fears are that 1.3000 looms overhead….\r\n\r\nBelow 1.2800 gives the bears some optimism moving forward, 1.2750 is definitely greater comfort but around 1.2850 I can only see higher…argh!!\r\n\r\nThe chart below shows the QUAD TOP measured move. That has not yet played out!!\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/USDCAD-D-10122017.png\"><img class=\"aligncenter size-large wp-image-10522\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/USDCAD-D-10122017-1024x534.png\" alt=\"\" width=\"1024\" height=\"534\" /></a>\r\n\r\n&nbsp;\r\n\r\n<strong><u>USD/CHF:</u></strong>\r\n\r\nDAILY CLOSING CANDLE: BEARISH (SHOOTING STAR)<strong>\r\n</strong>\r\nThe BULL FLAG from last week is still in play. However, it’s a nasty closing candle, which indicates a direction change.\r\n\r\nOne has to be cautious here, we are still inside the pennant but the candle indicates a bearish move.\r\n\r\nSUPPORT at 0.9740\r\n\r\nRESISTANCE at 1.0000\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/USDCHF-D-10122017.png\"><img class=\"aligncenter size-large wp-image-10523\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/USDCHF-D-10122017-1024x534.png\" alt=\"\" width=\"1024\" height=\"534\" /></a>\r\n\r\n&nbsp;\r\n\r\n<strong><u>USD/JPY:</u></strong>\r\n\r\nDAILY CLOSING CANDLE: BULLISH<u>\r\n</u>\r\nWith so many investigations surrounding TRUMP and the geopolitical tension with which he is associated, unless you are short this pair I do not think it would be prudent to trade it, no matter how bullish it looks to the long side.\r\n\r\nThe BEAR FLAG is probably too long vis-à-vis the flag pole length and should NOT be taken seriously. I put it there just to show how powerful upward moves can be at a time of so much confusion regarding the U.S. policies at home and internationally.\r\n\r\nBelow 110.80 obviously get bears well in control but that is a long way away now. We have retraced more than the 61.8% off the last high to low move.\r\n\r\nI would leave well alone but for the addicted top pickers the 76.4% Fibonacci at 113.80 may offer a try with an entry short with a tight stop.\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/USDJPY-D-10122017.png\"><img class=\"aligncenter size-large wp-image-10524\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/USDJPY-D-10122017-1024x534.png\" alt=\"\" width=\"1024\" height=\"534\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n<u>3:5. MY THOUGHTS ON HOW TO PLAY FX THIS WEEK:</u>\r\n\r\nThis week is loaded.\r\n\r\nI am probably going to focus more on exiting existing trades than entering new ones. I am not saying that my work for 2017 is complete but with the FED, ECB, BOE and SNB all on the floor this week plus a plethora of inflation data from the UK and U.S. one has to be lighter than usual with trades.\r\n\r\nPLUS: - This week liquidity will be starting to dry up.\r\n\r\nIf I look at the USD, despite all my rumblings earlier in this blog we have the greatest trading directional sentiment alignment of the majors for a long, long time. That said, personally for the most part, I am going to stay away from USD related pairs.\r\n\r\nTrading cross rates with lower liquidity also brings with it greater RISK even if you still reduce your position sizes.\r\n\r\nI expect that there will be more fallout from BREXIT and TRUMPS antics will obviously continue, why would his character change?\r\n\r\nIt sounds like I am closing the doors on 2017. Monday after the first Asian and European sessions of the week, I will review charts but not until then.\r\n\r\nSunday evening when the trading week starts its bound to be BITCOIN this and BITCOIN that as the focus as the futures exchange in the crypto comes on line. I expect things to get very “crunchy” as shorting comes into play.\r\n\r\nPushed on pairs to look at, I would say EUR/JPY, EUR/GBP, EUR/CHF and maybe AUD related pairs.\r\n\r\nJust remember we are in December, you cannot expect as much as if you were trading in say April or May. Trading expectations need to be wound back.\r\n\r\nAs a junkie on BREXIT news I will probably find myself reading lots of Sunday / weekend reviews and reports on what’s next!\r\n\r\n&nbsp;\r\n<ol start=\"4\">\r\n 	<li><strong> PREMIUM SERVICE SUBSCRIBERS ONLY:</strong></li>\r\n</ol>\r\n(Only SUBSCRIBERS to the PREMIUM SERVICE can view this section of the BLOG)<strong> </strong>\r\n\r\n<u>4:1. TRADING REVIEW:</u>\r\nOK; you guys may or may not agree with this statement but of late this market is most of the time just brutal.\r\n\r\nAs we enter a silly week of lots of major news items and events, we also start the wind down of liquidity and market participants.\r\n\r\nThe week was dominated by the BREXIT news trails, with most of my pips being generated via GBP related pairs.\r\n\r\nThe most frustrating time of the week was….\r\n\r\nI was ready on NFP day at 1.2804 to cut 6 x USD/CAD shorts and I hesitated believing that I would get another chance on a second push, which never materialized…. argh!!\r\n\r\nNothing much really to say this week, lots of hours in front of screens waiting, watching, waiting some more, it was painful at times. There were no set ups that were within striking distance of the market pricing so I put out lots of set ups based upon a future “hopeful” market move that just did not happen. You get these periods from time to time. The most frustrating aspect is that it is happening ahead of a period well known for thin trading conditions.\r\n\r\n&nbsp;\r\n\r\n<u>\r\n</u><u>4:2. SENTIMENT CHART,</u><u> FUNDAMENTAL &amp; MACRO THOUGHTS</u><u>:</u>\r\n\r\n&nbsp;\r\n\r\nIn the period, up to NFP and after the data was released, the feature in the FX market was USD strength, the exception up until Friday was the cable.\r\n\r\nThe DAILY, WEEKLY &amp; MONTHLY charts across the majors are the best aligned they have been for weeks, not perfect by a long way, yet I have to admit trading never gave me that impression last week. I found direction and sentiment very mixed.\r\n\r\nThis week we hear from the FED, ECB, BOE and SNB. These are the weeks that I like so I can absorb as much as possible about what the key people themselves think rather than the “hangers on”, which is more often the case.\r\n\r\nMy thoughts around Central Bank divergence remains with me and maybe after this week I will be able to flavour trade set ups with this in mind. The problem is I am just NOT convinced that long the USD is the trade moving forward.\r\n\r\nPart of trading that is not often discussed is MIND MANAGEMENT, I may have a blockage that needs sorting out. Hopefully this week I will be convinced with my macro thoughts or bullied into a change of thoughts process!\r\n\r\nLooking at the sentiment chart, since I re-introduced this a few weeks ago this is the most directional it has been. It is NOT perfect symmetry but it\'s the closest for weeks!\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/MKT-SENTIMENT-10122017.png\"><img class=\"aligncenter size-large wp-image-10512\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/MKT-SENTIMENT-10122017-789x1024.png\" alt=\"\" width=\"789\" height=\"1024\" /></a><u>\r\n</u>\r\n\r\n<u>4:3. TRADING PLANS:</u>\r\n\r\n<u>4:3.1. TRADING PLAN OVERVIEW THIS WEEK:</u>\r\n\r\nMy action plan for the week is: -\r\n<ol>\r\n 	<li>Monday morning after the European session, review charts for U.S. / European joint session for FLASH TRADES.</li>\r\n 	<li>Look to structure an exit of USD/CAD individual and HEDGED trades.</li>\r\n 	<li>Digest Central Bank monetary policy statements and add to action plan for Q1 2018.</li>\r\n 	<li>Plan CHF, possibly AUD &amp; GBP trades for Q1 2018, or earlier following Central Bank data this week.</li>\r\n</ol>\r\n<u>4:3.2.  EXISTING CORE TRADES (PLANS &amp; STRATEGIES):</u>\r\n\r\nI am still bearish the NZD. I am “possibly” in short-term denial vis-à-vis the CAD and the jury’s out regarding my future positioning regarding the AUD and GBP. I am seeking confirmation.\r\n\r\nEverything tends to go on hold to let the effects of NFP work its way through the markets. The challenge at the moment is by the time the effects of NFP gravitate down through pricing we are then entering a “silly season” for trading Forex.\r\n\r\n<strong><u>THE CAD:</u></strong>\r\n\r\n<u>EXISTING LIVE TRADES</u>: - 6 x live short USD/CAD trades, plus the 6 trades (3 x short / 3 x long) additional trades that form the HEDGE.\r\n\r\n<u>LIMIT ORDERS</u>: - 1 x CAD/JPY long trade.\r\n\r\n<u>MY PLAN:</u>  - To exit the HEDGE profitably.\r\n\r\n&nbsp;\r\n\r\n<strong><u>THE NZD</u></strong>:\r\n\r\n<u>EXISTING LIVE TRADES</u>: - Currently I have 5 x live long AUD/NZD trades, and a NZD/JPY short trade in play.\r\n\r\n<u>LIMIT ORDERS</u>: -  I have 4 more AUD/NZD long trades in position, plus a further short NZD/JPY trade.\r\n\r\n<u>MY PLAN:</u> - I want to consolidate this position into the year end. However, I will be looking if it is possible to remove some RISK.\r\n\r\n&nbsp;\r\n\r\n<u>4:4. CURRENT LIVE TRADES &amp; LIMIT ORDERS:</u><u>\r\n</u>\r\n\r\nCURRENT LIVE TRADES:\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/LIVE-10122017.png\"><img class=\"aligncenter size-large wp-image-10511\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/LIVE-10122017-831x1024.png\" alt=\"\" width=\"831\" height=\"1024\" /></a>\r\n\r\nCURRENT LIMIT ORDER TRADES:\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/LIMIT-10122017.png\"><img class=\"aligncenter size-large wp-image-10510\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/12/LIMIT-10122017-1024x993.png\" alt=\"\" width=\"1024\" height=\"993\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n<u>4:5. FX BROKER NEWS with their MARKET FEEDBACK:</u>\r\n\r\nNothing really new to report for this section other than the competition for new business is intensifying.\r\n\r\nOne thing to note is that I am receiving a lot of spam about BITCOIN and I know some brokers are now offering BITCOIN to trade. Personally, I have NOT even touched a BITCOIN chart.\r\n\r\nFrom an FX perspective brokers appear to be fumbling over what can they do to add value. The differentiation approach appears lost!\r\n\r\nThis is because when times were good they did not try to retain clients. Then lots of millionaires set up their own white label brokers which diluted the client base. What was a great idea to add “FREE &amp; CLEAR” to the bottom line has to a large extent back-fired.\r\n\r\nM and A activity will be what happens in Europe next year in my opinion as the competition for new clients is fierce.\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n<ol start=\"5\">\r\n 	<li><strong> THE PREMIUM SERVICE:</strong></li>\r\n</ol>\r\nThe PREMIUM SERVICE is my own subscriber based Forex support service that offers subscribers my suggested trade set-ups and market commentaries.\r\n\r\n<u>5:1. CURRENT 2017 PREMIUM SERVICE PERFORMANCE:</u>\r\n\r\nPIPS TOTAL DECEMBER TO DATE  2017:       = +536 pips\r\nYEAR TO DATE:                                                      = +13,319 pips\r\n\r\nIn sales mode; I am now planning for 2018. I will have live trades through the Christmas and New Year holidays so I will be on twitter and probably email.\r\n\r\nIn 2018, the PREMIUM SERVICE will return with a new TRADE STYLE option for subscribers to consider and the SUBSCRIBER SECTION of the “DRIVE THRU” will be larger with greater emphasis on sentiment and market direction. Therefore, now is a great time to join the PREMIUM SERVICE get familiar and ready to go with the 2018 launch!!\r\n\r\n<strong> </strong>\r\n\r\n<u>5:2. HOW TO SUBSCRIBE TO THE PREMIUM SERVICE:</u>\r\n\r\nIf you like what you’ve read in this blog and should you want to go a stage further and subscribe to the PREMIUM SERVICE, this can be done on my website <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a> under the Tab SUBSCRIBE HERE.\r\n\r\nSubscribing to the PREMIUM SERVICE is not just about receiving a larger “DRIVE THRU” blog packed with more trading supporting information, my thoughts and ideas. There is much more to a subscription than those things. Check it all out under the tab HISTORY &amp; PERFORMANCE on my website <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a>\r\n\r\nAlternatively, if you prefer to watch a video recording about the PREMIUM SERVICE, click the link below. You will be directed to a 40-minute webinar presentation entitled “AN INTRODUCTION TO THE PREMIUM SERVICE”.\r\n\r\n<a href=\"http://screencasts.weeklyfxdrivethru.com/watch/cb6fqiIAZX\">http://screencasts.weeklyfxdrivethru.com/watch/cb6fqiIAZX</a>\r\n\r\nTo subscribe to THE PREMIUM SERVICE, you will require a valid credit card.\r\n<strong> </strong><strong> </strong>\r\n<ol start=\"6\">\r\n 	<li><strong> THE FINAL SHOTS:</strong><strong> </strong></li>\r\n</ol>\r\n<u>6:1. WANT A FREE PREMIUM SERVICE SUBSCRIPTION:</u>\r\n\r\nIf you like what you have read in this blog and would like the chance to win a FREE SUBSCRIPTION valued at CAD$150.00, all you need to do is subscribe to my FREE NEWSLETTER (this blog), by adding your email address on my welcome page just below my cube logo at <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a>\r\n\r\n<u>6:2. CLOSING THOUGHTS:</u>\r\n\r\nNothing more to add here, I have said enough except,\r\n\r\nAs usual…\r\n\r\nAlways remember longevity in Forex trading can only be achieved through trading with good RISK and MONEY MANAGEMENT, and above all set your position sizes in accordance with the size of your account and allow for some flexibility.\r\n\r\nScott Pickering\r\nThe Pip Accumulator\r\nTwitter: @ThePremService\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/disclaimer/\">http://weeklyfxdrivethru.com/disclaimer/</a>\r\n\r\nBLOG VERSION: #158 PREMIUM SERVICE\r\n10th December 2017\r\n\r\n&nbsp;', 'RED LINES & DEADLINES =  CAN KICKED DOWN THE ROAD', '', 'publish', 'open', 'closed', '', 'red-lines-deadlines-can-kicked-road', '', '', '2018-01-18 13:57:30', '2018-01-18 18:57:30', '', 0, 'https://weeklyfxdrivethru.com/?post_type=member_posts&#038;p=10526', 0, 'member_posts', '', 0);
