<strong> </strong>
<ol>
 	<li><strong> INTRODUCTION:</strong></li>
</ol>
I never traded last week. From the get go I decided to err on the side of caution. Moves in the DXY continued just about higher overall with some profit taking coming through. At times, there were moves for no apparent reason other than probably a large order being placed that made a few waves, I decided for once just to stick to my guns and step aside. Basically, I just managed a couple of trades and closed with a few pips here and there.

I am still very suspect of the knee-jerk reaction moves in the markets since THE TRUMP election victory. The FED has cemented in some of the move and now we face a period of about 9 months when the EUROZONE will, in my opinion dominate the forex moves.

On Black Friday, we started to see some pullbacks in the dollar index, but it’s not consistent across the board. The EUR still trades heavy in my opinion and this move supports the inverse relationship move with the USD/CHF. It is the commodity currencies that always attract my eye. I still firmly believe commodities always lead the markets in one shape or another and the rest of the markets follow. It therefore stands to reason that moves in the AUD, NZD, CAD and NOK are uppermost on my mind plus the SEK as the USD/SEK is so sensitive to general forex moves.

The spanner in the works at the moment is the JPY. After the EUR/USD, the USD/JPY is the second most traded currency pair with the EUR/JPY not too far behind. The JPY can drive the DXY and sway the forex market easier now than a couple of years ago due to less corporate and institutional players, basically less volume and much less liquidity especially in Asia where it dominates the proceedings. So, as a result, the moves in the DXY are not always what they seem at first glance, as always, forex moves require more homework to try and “get a handle” on why and what, to give us traders the now common response to some unexplained moves…WTF!

Therefore, rather than trade an across the board USD weakness, look carefully as it could be sporadic. Whilst the EUR dominates the DXY weighted index, we may have to pick our way through currency pairs rather than take a general overview to give us the confirmation placing trades.

We will have a pullback of the recent moves. However, some will be shallower than others as the geopolitical news will still dominate within the pullback.

Back on point…

What I am saying is keep up your guard; CASH IS A POSITION never forget this no matter what you trade. I always end my blog each week with the following: -

<span style="color: #0000ff;"><strong><em>“As usual…</em></strong></span>

<strong><em><span style="color: #0000ff;">Always remember longevity in Forex trading can only be achieved through trading with good RISK and MONEY MANAGEMENT, and above all set your position sizes in accordance with the size of your account and allow for some flexibility”.</span> </em></strong>

I mean this; I am here for the long haul.

I set myself achievable and reasonable targets per annum of 10,000 pips. I trade for basically 10 months a year. Since 2013 when I adjusted my approach and revised everything I have achieved my objective. It’s hard, it’s certainly not easy, I trade what the market gives and, for the most time I wait for the trades to come to me. I have MY PLAN and I TRADE MY PLAN.

Moving on…

Here we are once again with the final blog of a trading year, after today, I return in 2017 on January 8<sup>th</sup>.

For PREMIUM SERVICE subscribers, I will trade through to the FOMC in December, maybe a day or so beyond. New subscriptions that come on board between now and January 8<sup>th</sup> will not start until that date therefore there is a little bonus of “free time” for new subscribers.

Don’t forget…

Just a quick reminder; each month, I am giving away a FREE PREMIUM SERVICE 4-week subscription. This gives the winner 100% access to the PREMIUM SERVICE website and ALL my PREMIUM SERVICE communications from my suggested trade set-ups to market commentaries and my thoughts.

To stand a chance of being the next subscription winner, you need to subscribe to receive this free blog via my website <a href="http://www.weeklyfxdrivethru.com">www.weeklyfxdrivethru.com</a><strong>  </strong><strong> </strong>

You are automatically entered into a free monthly draw, once you’ve subscribed. Each month one lucky blog subscriber will receive a free subscription to the PREMIUM SERVICE.

<strong> </strong><strong> </strong>
<ol start="2">
 	<li><strong> THE PREMIUM SERVICE:</strong></li>
</ol>
<u>WHAT IS THE PREMIUM SERVICE:</u>

The PREMIUM SERVICE is a subscriber, fee based trade set-up option for Forex traders regardless of experience or background. I provide traders suggested trades, and some market commentary related to open trades or factors within the overall market that have my interest.

Full details of the PREMIUM SERVICE and the various trade styles plus 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 PREMIUM SERVICE tab.

Additional information can be found by clicking TESTIMONIALS, PART-TIME TRADERS and FX PROMOTIONS tabs. To subscribe to THE PREMIUM SERVICE you will require a credit card.
<p style="text-align: center;"><u>PREMIUM SERVICE SUBSCRIPTION COSTS:</u></p>
<p style="text-align: center;">Details of features and benefits of a PREMIUM SERVICE subscription can be found on my website landing page at <a href="http://www.weeklyfxdrivethru.com">www.weeklyfxdrivethru.com</a> under the dropdown tab at the top of the page entitled HISTORY &amp; PERFORMANCE OF THE PREMIUM SERVICE. To subscribe follow the SUBSCRIBE HERE tab.</p>
<p style="text-align: center;">PREMIUM SERVICE subscription costs are as follows: -</p>
<p style="text-align: center;">CAD$240.00 - 4 weeks (1 month)
CAD$500.00 - 10 weeks (3 months)
CAD$750.00 - 20 weeks (6 months)
CAD$1,250.00 - 40 weeks (12 months)
<u>PLUS</u>: Existing PLATINUM MEMBERS (annual subscribers) can re-subscribe for a further 12 months for CAD$1,000.00</p>
I work for about 40 weeks a year. Subscriptions are based on 40 published blogs of the WEEKLY FX DRIVE THRU per year. For the remaining 10 weeks, I am around tweeting, posting and managing existing LIVE trades, although my market activity is reduced.
<p style="text-align: center;"><u>PREMIUM SERVICE PERFORMANCE:</u></p>
<p style="text-align: center;">PRESENT AND HISTORICAL QUICK PREMIUM SERVICE STATS:</p>
<p style="text-align: center;">THIS MONTH SO FAR: +1,397 pips
YEAR TO DATE TOTAL: +13,015 pips</p>
<p style="text-align: center;">NET PIPS 2015:       +10,686 pips
NET PIPS 2014:       +11,209 pips</p>
Below, for additional information, I show the net position of THE PREMIUM SERVICE performance for 2016. On my website landing page <a href="http://www.weeklyfxdrivethru.com">www.weeklyfxdrivethru.com</a> under the heading “HISTORY &amp; PERFORMANCE” there are more reports providing more historic trading information.

<a href="http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/PREM-SERV-NET-PROFITABILITY-2016.png"><img class="aligncenter size-large wp-image-8692" src="http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/PREM-SERV-NET-PROFITABILITY-2016-944x1024.png" alt="prem-serv-net-profitability-2016" width="944" height="1024" /></a>

&nbsp;

PART-TIME TRADER (POSITION) TRADES:

At the end of 2015, having listened to many of my subscribers and from a market survey that I undertook, I wanted to try and address those Forex traders who would consider themselves to be a PART-TIME trader for whatever reason.

PART-TIME FOREX TRADERS fall between a rock and a hard place.  It is very, very difficult with limited access to computers due to full-time employment or limited access to a computer due time constraints, to have a voice when trading.

Now more than ever you really need to be 24 x 5 with your devices to keep on top of things.

I wanted to try and find a trading solution for PART-TIME TRADERS.

Let me be the first to say, my solution is not 100% perfect. You can put lipstick on a pig but it’s still a pig, if you understand me. This is not an easy fix. But I wanted to try, and to be honest, timing in Forex is everything.

My initial solution, and it is on-going, has been my savior to my trading performance this year so far, with just 6/7 weeks left to go.

I introduced PART-TIME TRADER TRADES now called POSITION TRADES at the start of 2016. This trading style is based upon my FUNDAMENTAL longer-term market views. These trades are LIMIT ORDER entry trades with very wide stops based on ATR (Average True Range) limits, mostly weekly limits, but sometimes monthly limits, using Fibonacci levels and trend lines to set stops and limits.

They have been, due to the way that the Forex market has been held to ransom inside tight trading ranges for most of the year, creating very choppy market conditions very successful.

I am NOT saying that these trades and the way I trade them because I still have to assess trades all the time and close off trades early etc.… are the “B all and end all” holy grail for PART-TIME TRADERS but they are a step in the right direction.

These trades also suit FULL-TIME traders who want to take a longer-term perspective.

How successful have they been?

How do I measure their success?

Very simply, when launching these trades, a year ago I created a page on my website landing page at <a href="http://www.weeklyfxdrivethru.com">www.weeklyfxdrivethru.com</a> called PART TIME FOREX TRADERS it is part of my drop down menu at the top of my landing page.

I tried my best to define my target audience and I posted a cash flow projection, it is still there today and I have subsequently added quarterly reviews during the year.

Below is the initial cash flow projection that was posted the first week of January 2016.

<a href="http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/POS-TRADE-PROJ-2016.png"><img class="aligncenter size-large wp-image-8627" src="http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/POS-TRADE-PROJ-2016-818x1024.png" alt="pos-trade-proj-2016" width="818" height="1024" /></a>

&nbsp;

I am not going to spend a great deal of time on this. Basically for the purpose of this section of the DRIVE THRU blog will focus solely on MINI LOT traders.

My suggestion on day 1, was to open a broker account with USD$7,500. At the end of the year based only on single lot trades after costs to trade and my PREMIUM SERVICE annual subscription my goal was to grow the broker account from USD$7,500 to $15,052.50 by the end of 2016.

<strong><u>That would be to double your initial investment after ALL costs were taken into consideration</u></strong>

How have I faired with this quest?

Below is the latest spreadsheet update post I made to my website on the 31<sup>st</sup> October 2016. On my website <a href="http://www.weeklyfxdivethru.com">www.weeklyfxdivethru.com</a> landing page under the heading “PART TIME FOREX TRADERS” all my updates throughout 2016 can be found together with more information and background to these trade set ups.

<a href="http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/POS-PROJ-2016-Q3.png"><img class="aligncenter size-large wp-image-8630" src="http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/POS-PROJ-2016-Q3-1024x806.png" alt="pos-proj-2016-q3" width="1024" height="806" /></a>

At the end of last month, the cumulative position now shows that the original account with USD$7,500 now stands at net USD$13,868.00.

There is just under USD$1,200 in income left to achieve (1,200 pips over the months of November and December). It is a tall order.

What about my macro thoughts on the performance of the POSITION TRADES?

My thoughts are very straightforward: -
<ol>
 	<li>This (2016) has been an extremely difficult year to trade in.</li>
 	<li>My approach to trading this year has been almost a 180 degree turn on 2015 trading.</li>
 	<li>Features and factors that prompted me to start this trading style, namely central bank diversification never became as big of an issue as I thought it would have been. I had to re-focus and adapt the POSITION trade set ups to compensate for this.</li>
 	<li>This review of style, manifested itself in the facts that my projection was for just 90 trades in the year. So far I have completed 146 trades (more than 50% more than anticipated). My profits per trade are less and my losses per trade are well under projection.</li>
 	<li>I am, given the above points 1-4, delighted to have achieved this performance so far.</li>
 	<li>Have I delivered what I set out for PART-TIME traders? Not 100%. I have delivered profits but the timings for closing of trades is still an issue. I cannot let losses grow or profits diminish due to a trading style. I have to 100% trade the price action in the market as I see it.</li>
 	<li>What about 2017?I will continue this trading style next year, but I will review my other trading styles. It is impossible to predict what type of a trading year 2017 will be, apart from the fact it contains 365 days and that there will always be a forex market every day the market is open.</li>
</ol>
If you would like additional supporting data or detail about the performance and the tabs on my website landing page at <a href="http://www.weeklyfxdrivethru.com">www.weeklyfxdrivethru.com</a> do not answer your questions, contact me directly and I will supply the trading data you require. There are NO secrets. There are many, many spreadsheets detailing performance trade by trade and by trade and by trading style, way too many to place in this blog. If you are interested in the PREMIUM SERVICE and want more information, all you have to do is ask.
<ol start="3">
 	<li><strong> LOOKING BACKWARDS: THE FX MARKET PLACE</strong></li>
</ol>
<strong>LAST WEEK’S FOREX and ECONOMIC NEWS – MY VIEWS:</strong>

Although I was really “not playing” last week, my eyes and ears were open watching and reading. Two pieces from last week resonated with me and although they were raised last week they are news items that will remain with us for months moving forward.
<p style="text-align: center;"><strong>THE EUROZONE (ECB FINANCIAL STABILITY REPORT) </strong>
<strong> and </strong>
<strong> TONY BLAIR on BREXIT:</strong></p>
<p style="text-align: center;"><strong>EUROZONE IMPLOSION 2017?</strong></p>
These reports over the past couple of years have tended to come and go with little more than a cursory glance. I must be “old school” I still believe that the data supplied to the markets by Central Banks actually mean something despite the personalities involved. I know I am the first to call various Central Bank governors, Muppets, JCB Drivers, numpties etc. However, we should try to understand, what the messages are that they are trying to deliver, sometimes with a hidden agenda, or, a clouded delivery.

From my perspective, there is not another Central Bank President on the planet with as difficult a job as Mario Draghi so to hear and read what the views are from the EUROZONE should be read with greater seriousness as these views represent 50% of the most traded currency pair in the forex market.

Long time readers / subscribers will be aware that I see the EUROZONE as a failed project doomed to failure. Despite everything like a prehistoric dinosaur, it labours inefficiently forward from catastrophe to catastrophe and set back after setback kicking more cans down the road than could fit in a re-cycling plant… it’s still here as Jim Kerr would sing “ALIVE and KICKING”, and only God knows how and why!

Back to the report…

Hardly surprising given what the EUROZONE must battle through in the next 7-8 months it sees both political and financial RISKS on the horizon.

KEY EUROZONE AGENDA ITEMS ON THE HORIZON:

2016:
<ol>
 	<li>NOVEMBER 27<sup>th</sup>: - FRANCE: Second round vote Republican Presidential election.</li>
 	<li>DECEMBER 1<sup>st</sup>: - FRANCE: Socialist primaries for Presidential election.</li>
 	<li>DECEMBER 4<sup>th</sup>: - AUSTRIA: Presidential Election re-run.</li>
 	<li>DECEMBER 4<sup>th</sup>: - ITALY: Referendum on Constitutional Reforms.</li>
 	<li>DECEMBER 5<sup>th</sup>: - GREECE: Deadline day for stakeholders of GREEK DEBT to agree debt relief measures.</li>
 	<li>DECEMBER 15<sup>th</sup>: - FRANCE: Socialist primaries closed.</li>
 	<li>DECEMBER 31<sup>st</sup>: - GREECE: IMF to decide on involvement in GREEK third bailout.</li>
</ol>
2017:
<ol start="8">
 	<li>JANUARY 29<sup>th</sup>: - FRANCE: Socialist Primary Elections.</li>
 	<li>FEBRUARY 12<sup>th</sup>: - GERMANY: Presidential Elections.</li>
 	<li>MARCH 15<sup>th</sup>: - HOLLAND: Parliamentary Elections.</li>
 	<li>MARCH 26<sup>th</sup>: - GERMANY: Regional Elections.</li>
 	<li>APRIL 23<sup>rd</sup>: - FRANCE: Presidential Elections.</li>
 	<li>JUNE 18<sup>th</sup>: - FRANCE: General Elections.</li>
</ol>
Whilst one could say the ECB presentation appeared downbeat to some extent given the list 1-13 above I would say that a “WTF” discussion took place in Frankfurt and a play it all down approach was deemed to be the correct path to adopt.

Matteo Renzi has placed his political career on the line with the Italian referendum, should the people vote NO he will resign if he is as good as his word.

Would this place the EUROZONE in panic mode?

In my opinion, if not aired publicly, then definitely behind closed doors. Why?

In my opinion at the moment, with elections / referendums the questions being asked are practically irrelevant. It’s all about an anti-establishment vote.  For years, due to voter apathy with career “in it for themselves” politicians, turn out at all forms of elections around the world have been declining.

The BREXIT vote was a game changer. The populist vote was back making headlines.

Then we had TRUMP. The circus ended with an extra-ordinary result with all the polls wrong. People lie to these organisations. Your vote is private to you and it’s high time the likes of CNN grabbed this concept. Believe it or not for Non-North Americans reading this blog CNN are in denial no changes in approach to programming… is it any wonder.

Take a look at what is lurking in the EUROZONE… more importantly NOT IN THE SHADOWS: -
<ul>
 	<li>AUSTRIA – THE FREEDOM PARTY</li>
 	<li>BELGIUM – VLAAMS BELANG</li>
 	<li>DENMARK – DANISH PEOPLE’S PARTY</li>
 	<li>FINLAND – FINNS PARTY</li>
 	<li>FRANCE – FRONT NATIONAL</li>
 	<li>GERMANY – ALTERNATIVE FUR DEUTSCHLAND</li>
 	<li>GREECE – COALITION FOR THE RADICAL LEFT</li>
 	<li>ITALY – THE 5 STAR MOVEMENT &amp; LEGA NORD</li>
 	<li>HOLLAND – PARTY FOR FREEDOM</li>
 	<li>SPAIN – PODERMOS</li>
 	<li>SWEDEN – SWEDISH DEMOCRATS</li>
</ul>
These parties are either FAR LEFT or FAR RIGHT but they are no longer considered FAR OUT.

June 23<sup>rd</sup> in the UK was game changer. TRUMP was sensational given the way the US people are usually governed by fear. The vote to elect TRUMP was incredible and a raised finger to DC. Whether TRUMP can effect change the way he predicted in the campaign remains to be seen.

Back in the EUROZONE we are once again at the precipice and I do not think that cans, can be kicked anymore.

The policy of one size fits all, 19 into 1 will be shown up for what it is in 2017, especially if the populist vote gathers momentum.

Mario Draghi is widely rumoured to announce an extension of the ECB QE (Quantitative Easing) program in December. It remains to be seen what effect the Italian vote, if a no, will have on what he announces. Most analysts are expecting a time frame extension through to September 2017 from the present deadline of March 2017 and a view on potential tapering of the existing buying program. It could all be up in the air.

The ECB report talked about the Italian referendum, the bust voting calendar into the end of 2016 and the first half of 2017. BREXIT was briefly mentioned and as we all strongly suspect; BREXIT will drag on and on. I am still doubtful it will ever happen. I see a second vote. I am not certain how it will manifest itself, however should the EUROZONE implode it could all be a complete waste of time anyway.

The ECB also mentioned uncertainty surrounding TRUMP. The rising U.S. debt and TRUMPS focus on domestic issues rather than international may cause ripples around world markets. More like fecking Tsunamis in my opinion but there you go.

I think having read the report twice now it would be fair to say that political concerns worry the ECB more than economical…. My, my, my, how times have changed.

Moving to BREXIT and Tony Blair…

Poor Tony Blair, completely taken for a fool by George W. Bush over WMD. Never believe what intelligence tells you, those guys are fueled by, the shoot first ask questions later brain cells.

Our Tone now takes the view that democracy is a load of shite. The people have voted in a simple majority vote to leave the EUROPEAN UNION. Tony now says “feck that” we shouldn't leave and I know better than you. (This is why we have the populist vote growing by the way). The same thing happened in the U.S. election Mitt Romney called voters basically, idiots if they voted for TRUMP, he told them to vote the way I tell you, I know better and I know much more than you do… hence TRUMP. There is a pattern, career politicians’ days are numbered.

Back to my point…

Tony could be right, legally there is a case that says until the supreme court rules that the vote was NOT legally binding. In the name of sanity though, who is going to say it was NOT a democratic vote.

Theresa May, UK Prime Minister has said she will respect the wishes of the electorate and trigger article 50 of the Lisbon Treaty before 31<sup>st</sup> March 2017.

Had the economic performance and the uncertainty of the UK following the BREXIT vote been dire, I could see a second referendum (not unheard of in Europe, both IRELAND &amp; HOLLAND were given second chances in the past to “get it right!!!!”).

The UK however, did not shut down. There are issues and most of them are due to uncertainty.

Would the UK public welcome a second referendum?

Personally, I think that given the fact the political opposition in the UK is such poor shape, Theresa May should call a snap election to proceed with the BREXIT, this would probably give her an increased majority in the HOUSE of Commons and a clear mandate to get on with it.

There are issues to address with the Scottish, Welsh and Northern Ireland parliaments, who all wanted to REMAIN in the EUROPEAN UNION, as did the voters in LONDON.

However, I go full circle. Many voters feel left out hence the rise of the “anti-vote”.

The BREXIT story still has legs, and long ones they are, left to run. It would be political suicide to go against a democratic vote and whilst there are millions who want another vote, I am not sure whether this is a good thing or bad thing. If my thoughts on the EUROZONE come through it’s all a non-event anyway. The EUROZONE has a habit of surviving anything that is thrown at it. 2017 could be the year it doesn't survive, or it becomes so dysfunctional a CONTAGION EFFECT of wanting out takes hold and it break ups in a few years. That makes the BREXIT vote and the trigger of article 50 irrelevant.

&nbsp;
<ol start="4">
 	<li><strong> LOOKING FORWARDS:</strong><strong> </strong></li>
</ol>
<strong>THIS WEEK’S FOREX and ECONOMIC NEWS – MY VIEWS:</strong><strong> </strong>

<u>THIS WEEK’S FOREX NEWS THAT INTERESTS ME:</u>

(There are many more news items related to the Forex Market other than the ones listed below. These are the ones that interest me. You can go to <a href="http://www.forexfactory.com">www.forexfactory.com</a> and <a href="http://www.tradingeconomics.com">www.tradingeconomics.com</a> for a more comprehensive lists of all news events that are Forex related).

SUNDAY: N/A.

MONDAY: EUR – Mario Draghi (ECB) speaks.
MONDAY: CAD – Stephen Poloz (BOC) speaks.

TUESDAY: USD – GDP and Consumer Confidence.
TUESDAY: NZD – RBNZ Financial Stability Report &amp; Graeme Wheeler speaks.

WEDNESDAY: GBP – Bank Stress Test Results.
WEDNESDAY: OPEC Production Cut Meeting.
WEDNESDAY: EUR – Mario Draghi (ECB) speaks.
WEDNESDAY: USD – ADP Non-Farm Employment Data.
WEDNESDAY: CAD – GDP.
WEDNESDAY: AUD – Private Capital Expenditure.
WEDNESDAY: CNY – Manufacturing PMi.

THURSDAY: GBP – Manufacturing PMi.
THURSDAY: USD – ISM Manufacturing PMi.
THURSDAY: AUD – Retail Sales.

FRIDAY: GBP – Construction PMi.
FRIDAY: CAD – Jobs Data and Unemployment Rate.
FRIDAY: USD – Non-Farm Payrolls and Unemployment Rate.

<strong> </strong>

After the short week just completed we are back with a bang this week with a plethora of economic data releases.

Obviously NFP on Friday is the jewel in the crown and if its a beat or even in line it will be the confirming data, should it be required, to see U.S. interest rates increase in December. Frankly, if rates do not rise in December, God help the USD and God help Janet Yellen she would be the first victim of a non-reality “You’re fired” by Donald Trump.

&nbsp;

We have the long-awaited OPEC production cut announcement this week. Up to now the OPEC members have been producing like crazy to show a cut-back to probably the average production levels. This is nonsense. OPEC has no importance anymore in my opinion. It is now simply a collection of countries with a commodity in decline. Only the hedge fund gamblers of this world play the oil trade in quantity and frankly as the OPEC reliability gets less and less a few big hedge fund losses will end that speculative market and OPEC will be no more

For now, we have a Christmas laugh and giggle on the horizon. This is a classic buy the rumour sell the news event. Take it seriously for 24 hours, if that, and then watch the selloff.

&nbsp;

The UK bank stress tests will be interesting to watch. Over the recent months the government has been selling stakes in the banks it supported at the time of the Financial Crash back in 2008-2009 so I doubt that this would not be done unless the BOE tipped them the nod.

&nbsp;

Several PMi’s on the table this week. China will be interesting to follow. The market is expecting a small pullback but still a consolidation above 50.0 which is important moving forward.

&nbsp;

I think my message is that with the Forex markets prime for a pullback at any time, albeit across selective currencies, be careful with getting in too heavy especially in a week that contains U.S. non-farm payrolls.

<u> </u>

<u>THIS COMING WEEK - THE USD MAJORS (MY THOUGHTS): </u>

(In this section I have as usual kept my charts as minimalist as possible. With regards to charting in my opinion less is more!! I hope that they are clear. All readers regardless of level of experience should be able to follow my thoughts from my comments to the levels on the charts with ease)

My comments are contained on the charts.

EUR/USD - Weekly Closing Price: 1.0590

<a href="http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/EURUSD-D-26112016.png"><img class="aligncenter size-large wp-image-8700" src="http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/EURUSD-D-26112016-1024x477.png" alt="eurusd-d-26112016" width="1024" height="477" /></a>

GBP/USD - Weekly Closing Price: 1.2473

<a href="http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/GBPUSD-D-26112016.png"><img class="aligncenter size-large wp-image-8701" src="http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/GBPUSD-D-26112016-1024x477.png" alt="gbpusd-d-26112016" width="1024" height="477" /></a>

AUD/USD - Weekly Closing Price: 0.7438

<a href="http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/AUDUSD-D-26112016.png"><img class="aligncenter size-large wp-image-8699" src="http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/AUDUSD-D-26112016-1024x477.png" alt="audusd-d-26112016" width="1024" height="477" /></a>

NZD/USD - Weekly Closing Price: 0.7041

<a href="http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/NZDUSD-D-26112016.png"><img class="aligncenter size-large wp-image-8702" src="http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/NZDUSD-D-26112016-1024x477.png" alt="nzdusd-d-26112016" width="1024" height="477" /></a>

USD/CAD - Weekly Closing Price: 1.3513

<a href="http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/USDCAD-D-26112016.png"><img class="aligncenter size-large wp-image-8703" src="http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/USDCAD-D-26112016-1024x477.png" alt="usdcad-d-26112016" width="1024" height="477" /></a>

USD/CHF - Weekly Closing Price: 1.0131

<a href="http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/USDCHF-D-26112016.png"><img class="aligncenter size-large wp-image-8704" src="http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/USDCHF-D-26112016-1024x477.png" alt="usdchf-d-26112016" width="1024" height="477" /></a>

USD/JPY - Weekly Closing Price: 113.16

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<ol start="5">
 	<li><strong> PREMIUM SERVICE SUBSCRIBER EXCLUSIVE CONTENT AREA:</strong></li>
</ol>
TRADING REVIEW:

I did not trade much at all last week. When cables move hit the markets early in the week for no reason, that was the nail in the coffin not to trade last week and just observe.

My gut feeling was there should be a pullback given we had seen so many extreme moves and many currency pairs looked well overdone. We saw a bit of a correction in currencies last Friday but not much. It is equities that have no realistic valuation at these levels that are going to create the correction of all corrections in my eyes. It is stock buybacks that are fueling this rise in equities, it’s all on a promise and frankly its very dangerous in my opinion.

The FED rate rise could be the catalyst for a correction and it will be blamed by the spoilt brats on Wall Street as the reason for everyone’s 401k decline in value. In my opinion, Wall Street has itself to blame 100% for everything that happens. Some of the future valuations of stocks at 25-35 times future values are untenable and frankly grossly irresponsible.

I am not yet predicting a “House of Cards” situation, but we are not far off. I watched CNBC the other morning for an hour or so and frankly U.S. TV is to blame for a lot of things wrong with the markets. Bull views only…up, up and away to infinity and beyond is the only song they know. Frightening to observe and totally misleading.

With this as a backdrop I am ready to keep shorting the commodity currencies which will suffer the most from any equity correction. As usual if the U.S. catches a cold the rest of the world gets influenza.

My longer-term views haven’t altered much at all.

Looking towards the end of this year, it is my intention to have POSITION trades established to carry forward into 2017.

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TRADING STYLES and RISK POSITION SIZING for 2017:

I have been working on these last week and I will re-launch these at the beginning of 2017. There are changes planned which will give greater clarity; at least that’s the goal!

As I mentioned last week, it is working on the CORE POSITIONS which was relatively new to the PREMIUM SERVICE in 2016, which will be my focus. From my own perspective, I am going to “Lump” all POSITION trades into one broker next year. I will be using “SELL STOP” trades more frequently as I have been testing what I call MOMENTUM TRADING and I see these as ideal alternative entries to POSITION TRADES.

It works with POSITION TRADES primarily because the trade can go 50 pips against you and it should not affect the STOP LOSS as these will be based moving forward on a combination of the weekly and monthly ATR (Average True Range).

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PART-TIME TRADERS 2017:

I have a growing number mainly out east…. As the crow flies from Canada. Most of you will NOT use twitter so I am very conscious about that and I have a letter for distribution, in the next week or so with my proposals for trading in 2017.

Suffice to say I want to grow on the success from 2016 but we all need to look at the limitations on time that I have available.

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Moving on to my CORE TRADES: -
<ol>
 	<li>AUD/NZD: – Frustrating as it is I am still a believer. I will continue to add on pullbacks and lift off 50 -100 pip gains as they become available.</li>
 	<li>NZD/USD: – I have started to build, and I will be adding again into the end of the year.</li>
 	<li>I am looking to establish AUD/USD, USD/CAD and USD/CHF core positions before the end of the year.</li>
</ol>
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PERISCOPE (UPDATE):

I must give time to this. I have been diverted away from my desk quite a bit of late.

PERISCOPE PROPOSAL - My proposal is initially to do a 30-minute presentation on a Monday afternoon my time about 2PM EST. I can be totally flexible with this time. If anyone wants to have a PERISCOPE session and this time is difficult please advise so I can review.

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<strong>TRADES REVIEW:</strong>

The excel spreadsheets below details current LIVE and pending LIMIT ORDER trades: -

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<a href="http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/LIMIT-ORDERS-26112016.png"><img class="aligncenter size-large wp-image-8690" src="http://weeklyfxdrivethru.com/wp-content/uploads/2016/11/LIMIT-ORDERS-26112016-715x1024.png" alt="limit-orders-26112016" width="715" height="1024" /></a>

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<ol start="6">
 	<li><strong> MY CLOSING THOUGHTS:</strong></li>
</ol>
This is a big week on data and geopolitical news events.

Even though the blog is finished for 2016 my trading is not and I fully expect to trade through to at least the FOMC interest rate decision.

My personal goal with trading through to the year end is to build up core positions for 2017 based upon my FUNDAMENTAL thoughts and views.

I am expecting equities to pullback, what has gone on since the TRUMP victory makes no sense, and whilst there is always the approach of the market is the market work with it, and I fully get that, the recent moves are just a typical market move ready to leave all the retail traders hanging out there to dry at the highs after they get suckered in.

The Forex market is well over done and the fact that every analysts wrongly predicted the effect of a TRUMP victory, they can all stick their revised predictions where the sun doesn't shine.

As a trader, you have get hold of the reality that you are on your own. No-one gives a shit whether you live or die by this market. The markets are unforgiving. It is NOT a level playing field, the institutions drive the markets and majority of the pundits / analysts / so-called experts on TV have what is called “NO SKIN IN THE GAME”. Bear this in mind when you see or hear that Goldman or Barclays says something. They sell their own books. It is 99.99999999999% of the time an opinion based on what trades they have in place.

If these banks that provide analysis were so good they would be shouting their successes from the rooftops every day. They are not. In fact, if the truth be told, the majority of the major FX banks, have been found guilty of falsifying data and God knows what else over the past 12-18 months. They have been caught out trying to manipulate the market. This has affected them so much they are pulling back from FX now that they are losing their advantages to manipulate the market.

As we enter the silly season of lower volumes and less liquidity bear in mind you are on your own. If you are a PREMIUM SERVICE subscriber you have me as a sounding board but I am not blessed with ability to read the future.

All I can tell you is take care and do not be a sucker by being influenced by a bank opinion. If they get something right once it is not the second coming… it is at best a 50-50 bet made by someone who could not give a crap as he or she is not a trader.

So once again, in my opinion, the sword of Damocles STILL hangs over the markets.

As usual…

Always remember longevity in Forex trading can only be achieved through trading with good RISK and MONEY MANAGEMENT, and above all set your position sizes in accordance with the size of your account and allow for some flexibility.

Take care,

Scott Pickering
The Pip Accumulator
<a href="http://weeklyfxdrivethru.com/disclaimer/">http://weeklyfxdrivethru.com/disclaimer/
</a>BLOG VERSION: #121 PREMIUM SERVICE
DATE: 26<sup>th</sup> November 2016.