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(9351, 1, '2017-04-01 14:13:28', '2017-04-01 19:13:28', '<strong>\r\n</strong>\r\n<ol>\r\n 	<li><strong>INTRODUCTION:</strong></li>\r\n</ol>\r\nWow… I must be getting old! This past week has just flown by.\r\n\r\nFrom a trading perspective being positive, I am still adding pips to the yearly total, which now stands at 1,493 pips of net profit.\r\n\r\nI did what I promised I would do during the month of March, which was to remove trades that I felt were going nowhere fast “sticky” and where having them “LIVE” was just preventing me from adding too many other trades because it would extend my RISK beyond the parameters that I am comfortable with. In fact, I removed almost 1,000 pips in total. This was about 25% from normal trading and 75% of the aforementioned “sticky” trades.\r\n\r\nI know that it sounds crazy but even after c.10 years of trading to have those “sticky” trades gone is still an uplifting experience once you have come to terms with banking the loss in both pips and $$$. Thankfully, the trades were small sized, so the pain in $$$ was not as great as it could have been. However, I measure myself in net pips of profit and my annual goal is 10,000 pips. I have beaten this objective in all three years that the PREMIUM SERVICE has been in operation so I have my work cut out this year, which will be, very fragmented due to a house move and early vacation\r\n\r\nOn a further positive note… fingers crossed and also touching wood as I type this… no further software issues.\r\n\r\nLeading on from the pleasantries…\r\n\r\nLast week was dominated by BREXIT and “THE DONALDS” twitter account. Nothing new in this.\r\n\r\nBREXIT – part two comes later in “THE SOAPBOX” in section 5, so I will leave my thoughts, views and commentary until there.\r\n\r\nI was asked what is the rationale for splitting it down as I have, which I explain further below:\r\n<ul>\r\n 	<li>Part One – since the vote and all the shenanigans that have taken place even before the Lisbon Treaty (Article 50) has been triggered.</li>\r\n 	<li>Part Two – A50 triggered what are the 27-remaining member EUROPEAN UNION countries looking for and what is the potential common ground (the easy bits for negotiation) moving forward.</li>\r\n 	<li>Part Three – The Negotiation period and possible outcomes. The new look in Europe and the UK.</li>\r\n 	<li>Part Four – the trades that I will be focused on. Levels of entry. This is more based on the bottoms for reversal trade opportunities.</li>\r\n</ul>\r\nWhilst parts one and two will run back to back, I am not 100% sure parts three and four will immediately follow as I want to see the opening shorts of negotiation, rather than the guesswork and rumours that fill the media pages at the moment.\r\n\r\n“THE DONALD” just cannot help himself. This twitter account of his should be shut down. I understand why he wants it and likes it but it is damaging his presidency and it undermines his team who appear to come under continual scrutiny about their validity and credentials to do the job for which they were hired. He does NOT have enough kids to fill every portfolio!\r\n\r\nHe is back on currency manipulation once again. The Chinese Premier is due to fly in for some Florida Golf soon and “THE DONALD” is laying the groundwork in advance.\r\n\r\nIf TRUMP was so hell bent on punishing all currency manipulators why on earth has he not singled out the SNB. The Swiss Central Bank spent over $65 billion supporting the CHF with currency intervention in 2016. Oh...let me guess why Thomas Jordan has NOT been singled out?\r\n\r\nCould it be that the US does not compete with the Swiss vis-à-vis high-end watch and clock mechanisms? Of course, China competes with the US in the same markets. Very shallow Donald.\r\n\r\nRegarding the markets…\r\n\r\nThe month end and Q1 fix was a volatile affair as institutions re-balanced their FX positioning. The USD took quite a big hit…. From my perspective, it was a buy the dips and sell the rips opportunity. For PREMIUM SERVICE subscribers, I tweeted my exits from several positions late in the Asian session on the 30th just in case the European session was caught up in pre-fixing on the back of the Tusk press conference regarding the response to the UK BREXIT formal letter. At times, I wonder if I am too cautious!\r\n\r\nPlus…\r\n\r\nKeep one eye on GREECE. They have a debt re-payment of €8.2 billion in July this year and guess what? No cash to pay it. This story will develop moving forward over the next few weeks. Be prepared GREECE BAILOUT ACT IV is coming soon to a theatre near you!\r\n\r\nMoving on…\r\n\r\nTHE WEEKLY FX DRIVE THRU – LIVE webinars.\r\n\r\n#9 this Monday 3rd April at 5:30PM.\r\n<ul>\r\n 	<li>To attend live - you need Google Chrome as a browser.</li>\r\n 	<li>You cannot view on smart phones or tablets, only Laptops and Desktops.</li>\r\n</ul>\r\nThe “LIVE WEBINAR” link is below: -\r\n\r\n<a href=\"http://bit.ly/drivethru-live\">http://bit.ly/drivethru-live</a>\r\n\r\nIf you cannot listen live you can check out my You Tube channel,\r\n<strong><em>Scott Pickering</em></strong> <strong><em>Weekly FX Drive Thru</em></strong> for a freshly posted copy of the webinar, usually, within a couple of hours of its completion.\r\n\r\nHere is the link for my you tube channel, when I get too 100 subscribers (if I get there) I can have my own personalized shortened link. If you like the style of my webinar, please subscribe. The benefits are that as soon as a new webinar is posted you are emailed.: -\r\n\r\n<a href=\"https://www.youtube.com/channel/UCV-9VDnNkHjTPBzKqLqCGJw/videos\">https://www.youtube.com/channel/UCV-9VDnNkHjTPBzKqLqCGJw/videos</a>\r\n\r\nAlmost there\r\n\r\nIf you would like to be in the monthly draw to win a “FREE 10-WEEK SUBSCRIPTION” to the PREMIUM SERVICE, valued at CAD$1,000.00, all you have to do is subscribe to receive this FREE NEWSLETTER on my website <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a>  On my welcome page just below my cube logo is where you complete your subscription.\r\n\r\n<strong> </strong>\r\n<ol start=\"2\">\r\n 	<li><strong> THE FX MARKET PLACE – LOOKING FORWARD:</strong></li>\r\n</ol>\r\n<u>ECONOMIC DATA RELEASES:</u>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/ECON-DATA-02042017.png\"><img class=\"aligncenter size-large wp-image-9319\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/ECON-DATA-02042017-1024x991.png\" alt=\"\" width=\"1024\" height=\"991\" /></a>\r\n\r\n&nbsp;\r\n\r\n<u>MY THOUGHTS ON THE WEEK AHEAD:</u>\r\n\r\nA nice busy week coming up with the highlight obviously being NFP on Friday: -\r\n<ol>\r\n 	<li>GBP: The UK dominates this week with a series of PMI data Manufacturing, Services and Construction. This data will either support the calls that cable has bottomed or they will throw the whole BREXIT negotiations and the UK economy uncertainty back to the forefront once again.</li>\r\n 	<li>USD: The NFP release will once again take pride of place regarding the data releases this week. We will be placed once again in a will they (FED) / wont they (FED) hike 2 or 3 times more this year?\r\n\r\nWe also have FOMC meeting minutes and ISM PMI data releases this week. There should be nothing new in the FED minutes.</li>\r\n 	<li>AUD: Not expecting much out of the RBA this week, except more of the same. Retails sales and Trade Balance numbers will be interesting though and could cause a few ripples. Recently AUD data has been pretty dull from a trading perspective.</li>\r\n</ol>\r\nObviously, the BREXIT news will be on the wires at ad-hoc times. I am however, expecting this to calm down as the 27 members of the EU do not meet to formally discuss BREXIT until the end of April and negotiations do not start until the end of May. Nevertheless, we still should be on our toes.\r\n\r\n<u>USD MAJORS – “IMMEDIATE” SUPPORT &amp; RESISTANCE:</u>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/T-CHART-020417.png\"><img class=\"aligncenter size-large wp-image-9320\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/T-CHART-020417-1024x849.png\" alt=\"\" width=\"1024\" height=\"849\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\nThe charts below contain commentary (my thoughts and views), these are the USD major charts that are reflected in the spreadsheet above.\r\n<strong>EUR/USD:</strong>\r\n\r\n<strong> <a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/EURUSD-D-02042017.png\"><img class=\"aligncenter size-large wp-image-9336\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/EURUSD-D-02042017-1024x454.png\" alt=\"\" width=\"1024\" height=\"454\" /></a></strong>\r\n\r\n<strong> </strong>\r\n\r\n<strong>GBP/USD:</strong>\r\n\r\n<strong> <a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/GBPUSD-D-02042017.png\"><img class=\"aligncenter size-large wp-image-9337\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/GBPUSD-D-02042017-1024x454.png\" alt=\"\" width=\"1024\" height=\"454\" /></a></strong>\r\n\r\n<strong> </strong>\r\n\r\n<strong>AUD/USD:</strong>\r\n\r\n<strong> <a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/AUDUSD-D-02042017.png\"><img class=\"aligncenter size-large wp-image-9335\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/AUDUSD-D-02042017-1024x454.png\" alt=\"\" width=\"1024\" height=\"454\" /></a></strong>\r\n\r\n<strong> </strong>\r\n\r\n<strong>NZD/USD:</strong>\r\n\r\n<strong> <a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/NZDUSD-D-02042017.png\"><img class=\"aligncenter size-large wp-image-9338\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/NZDUSD-D-02042017-1024x454.png\" alt=\"\" width=\"1024\" height=\"454\" /></a></strong>\r\n\r\n<strong> </strong>\r\n\r\n<strong>USD/CAD:</strong>\r\n\r\n<strong> <a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/USDCAD-D-02042017.png\"><img class=\"aligncenter size-large wp-image-9339\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/USDCAD-D-02042017-1024x454.png\" alt=\"\" width=\"1024\" height=\"454\" /></a></strong>\r\n\r\n<strong> </strong>\r\n\r\n<strong>USD/CHF:</strong>\r\n\r\n<strong> <a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/USDCHF-D-02042017.png\"><img class=\"aligncenter size-large wp-image-9340\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/USDCHF-D-02042017-1024x454.png\" alt=\"\" width=\"1024\" height=\"454\" /></a></strong>\r\n\r\n<strong> </strong>\r\n\r\n<strong>USD/JPY:</strong>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/USDJPY-D-02042017.png\"><img class=\"aligncenter size-large wp-image-9341\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/USDJPY-D-02042017-1024x454.png\" alt=\"\" width=\"1024\" height=\"454\" /></a>\r\n\r\n&nbsp;\r\n\r\n<strong>\r\n\r\n</strong>\r\n\r\n&nbsp;\r\n<ol start=\"3\">\r\n 	<li><strong> THE PREMIUM SERVICE:</strong></li>\r\n</ol>\r\n<u>WHAT IS THE PREMIUM SERVICE?</u>\r\n\r\nThe PREMIUM SERVICE is a subscriber based Forex support service offering not just trade set-ups, but a bunch of different support services that differentiates the PREMIUM SERVICE from other providers, my competitors, that operate in the same space.\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 PREMIUM SERVICE tab.\r\n\r\nFurther information can be found by clicking TESTIMONIALS, PART-TIME TRADERS and FX PROMOTIONS tabs. To subscribe to THE PREMIUM SERVICE, you will require a valid credit card.\r\n\r\n<u> </u>\r\n\r\n<u>PREMIUM SERVICE PERFORMANCE YEAR TO DATE:</u>\r\n\r\nBelow are current monthly and year to date PREMIUM SERVICE performance statistics. These can also be found on my welcome page under the TAB “THE HISTORY &amp; PERFORMANCE OF THE PREMIUM SERVICE”\r\n\r\nBasically, from the spreadsheets below you can see that for the month of March PREMIUM SERVICE trades generated a net total of 673 pips and for 2017 year to date the pip total sits at 1,493\r\n\r\nOther highlights / lowlights are: -\r\n<ol>\r\n 	<li>Compared with the same point last year 2017 trails 2016 by 85 pips.</li>\r\n 	<li>My ratio of profitable to loss making trades is lagging this year. I am usually in the 75% / 25% area but this year so far it is 64% / 36%. I still have some work to do!</li>\r\n 	<li>My trading this year only shows a total of 21 trades out of 132 trades in total that are based upon shorter–term time horizon’s.</li>\r\n</ol>\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/PREM-SERV-PERF1-MARCH-2017.png\"><img class=\"aligncenter size-large wp-image-9317\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/PREM-SERV-PERF1-MARCH-2017-982x1024.png\" alt=\"\" width=\"982\" height=\"1024\" /></a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/PREM-SERV-PERF2-YTDMARCH2017.png\"><img class=\"aligncenter size-large wp-image-9318\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/PREM-SERV-PERF2-YTDMARCH2017-1024x1000.png\" alt=\"\" width=\"1024\" height=\"1000\" /></a>\r\n\r\n<u>PREMIUM SERVICE –  SUBSCRIBER PROMOTION:</u>\r\n\r\n<strong><u>“DOUBLE IT UP”</u></strong>\r\n\r\nI usually run a PREMIUM SERVICE subscriber promotion at the end of the old year /start of a new year.\r\n\r\nBecause I knew that this year I would be moving home and traveling in Q2, I deliberately decided to wait, to launch a promotion around that time.\r\n\r\nThis is the biggest and I believe the best subscriber promotion that I have ever offered.\r\n\r\nWhat is <strong>“DOUBLE IT UP”</strong> all about…\r\n\r\nBasically, from now until June 30<sup>th,</sup> 2017 anyone who subscribes to the PREMIUM SERVICE through my “SUBSCRIBE HERE” tab at the top of my welcome page will have their subscription period doubled at no extra cost.\r\n\r\nIn addition, all subscriptions regardless of the date of subscribing will not start until June 30th 2017.\r\n\r\nThis means that from the day of joining the PREMIUM SERVICE you will have 100% access. This could give you up to an additional 12 weeks of membership to the PREMIUM SERVICE depending upon the date you subscribe.\r\n\r\nThis 12-week period covers the period that I am moving home and traveling, and therefore there may be days at a time with zero activity, and there will be some because I will be out of coverage and simply on vacation, but it’s all “FREE” in any case, so whatever happens, it is all a bonus anyhow as your subscription period will officially commence June 30th 2017.\r\n\r\nConfirmation of the <strong>“DOUBLE IT UP” </strong>will be contained in the “welcome on board documents” the accompanies your subscription confirmation.\r\n\r\nThis is the best and most generous promotion that I have ever offered since starting the PREMIUM SERVICE and I hope that many of you take advantage.\r\n\r\nI add below my “DRIVE THRU blog / TRADING date charts for 2017, 2018 and 2019.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/03/BLOG-DATES-2017-2019.png\"><img class=\"aligncenter size-large wp-image-9300\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/03/BLOG-DATES-2017-2019-1024x621.png\" alt=\"\" width=\"1024\" height=\"621\" /></a>\r\n\r\nPLUS:\r\n\r\nIf you would like to know a little more about THE PREMIUM SERVICE please feel free to watch the following 40-minute video via the link below:\r\n\r\n<a href=\"http://bit.ly/PremServiceQ217\">http://bit.ly/PremServiceQ217</a>\r\n\r\nPLEASE NOTE: the above video is best viewed using a Google Chrome browser.\r\n\r\n<strong>\r\n</strong>\r\n<ol start=\"4\">\r\n 	<li><strong> PREMIUM SERVICE – SUBSCRIBER CONTENT AREA:</strong></li>\r\n</ol>\r\n<u>TRADING REVIEW:</u>\r\n\r\nI was felling quite comfortable having banked some pips and $$$ late Thursday last week ahead of the month and quarter end.  Wow… that was a volatile London Fix. The FX positioning has really been skewed of late and I guess the Q1 close was an ideal opportunity to dress up the balance sheets. I still find it quite bizarre that institutions still dress up performances for a day. As you all know a balance sheet is just a snapshot on a particular day. It is the trading accounts that give a real position. Are we still this naive?\r\n\r\nI was asked on a few occasions last week if I am happy with my trading in 2017? Talk about a loaded question…\r\n\r\nThe answer is quite simple…NO I am not.\r\n\r\nNothing has changed from the commentaries in this section practically from the start of 2017. The markets are tough to read hour by hour as we are so news driven. The markets turn so quickly you can lose $1,000 a day no problem on shorter term trades. This is why I have almost avoided FLASH and RADAR trading this year and being 100% honest I will continue to do so until I see a change.\r\n\r\nMy days of giving money back to brokers have long gone. Frankly that is a mugs game I no longer participate in. In my opinion you have to trade leaner and be prepared to be very flexible with your stop placements.\r\n\r\nI know many of you would like more shorter-term time framed trades, I understand this but let me give you the example of a current AUD/USD RADAR TRADE (RT755). This trade is going nowhere fast. Granted it has flexed upwards and downwards and I have moved my stop to accommodate some additional moving to the upside, but it has very little momentum in either direction.\r\n\r\nThis can be for several geopolitical and commodity price reasons all mixed in together that nullifies any movement, such as Iron Ore, Gold, Copper and the USD. To give you one reason for this pairs tight trading range, frankly, I would be guessing.\r\n\r\nSo… I am just sitting in this trade. I have 3 other RADAR TRADES at good levels of resistance to enter short. These will be pulled early next week if no action is forthcoming to trigger my entry levels.\r\n\r\nI said last week, maybe I am guilty of over-thinking these markets. Am I doing a “Frasier Crane”, trying to rationalize every potential move? Maybe I am. I like to have a plan. I have a plan, but it’s so slow to fall into place. Do I still believe in my plan? Yes; I do.\r\n\r\nWithout getting too anal; I know I am trying to rationalize a completely irrational market place at times. I mean, when you think about it, the very fact the market moves on the back of a tweet from a buffoon probably does indicate I am putting too many brain cells to work, I am making something that is simple too complicated. However, I do have my TRADE PLAN that has worked so well for over 5 years. I do like to have my fundamental views lined up, together with directional trading to give me a greater confidence. As soon as I let one of my parameters fall I feel that I am weakening my position and reasons to trade.\r\n\r\nThe solution is…. always TRADE YOUR PLAN and be patient.\r\n\r\nWe are trading very tight ranges in most pairs and therefore it is difficult to get too excited each time I sit in front of my screens.\r\n\r\nAt any one time, I have 4/5 trade set up potentials ready to tweet that fall away during the trading day for one reason or another.\r\n\r\nWe are in a different trading environment and therefore we must adjust. As I keep saying we appear to be totally news driven. Fundamentals matter and they will always trump technical set ups in a news driven environment, as technical levels are mostly ignored.\r\n\r\nI spoke earlier in the week with my peer group and everyone’s trading style is suffering to varying degrees. Everyone has amended their approach and position size. So, unfortunately there is no “Holy Grail” out there. My FX approach is for the long haul so I can and will wait / sit this out if necessary. I will not compromise my plan for increased risk. It all comes back to patience.\r\n\r\n&nbsp;\r\n\r\n<u>CORE TRADES:</u>\r\n<ol>\r\n 	<li>EUR/USD and USD/CHF: - I have added and taken off positions. I will still continue to add to these core positions, I can still see the reasons to buy dips and sell rips.\r\n\r\nThe bigger picture is that despite encouraging inflation data, the EUROZONE is facing major / serious headwinds ahead.</li>\r\n 	<li>GBP/USD: - Nothing has really changed in my opinion.\r\n\r\nThere will be some great GBP long trades in the next 12 months. There will be greater opportunities long GBP than maybe those that remain on the short side.\r\n\r\nA50 now triggered and the timeline for the BREXIT is now in play.\r\n\r\nAs I have stated on several occasions, very few people mention capital outflows out of the UK, these could be huge and are critical. This will start to bite sooner rather than later as the financial institutions start to make plans on their new structures inside a freshly shaped EUROPEAN UNION.</li>\r\n 	<li>GBP/JPY: - I am not sure that this will be a core trade moving forward, but of all the GBP x rates, this one has a lot to lose should the cable fall. I am as you know nervous trading JPY related pairs. All I want is 100 pips profit with a stop behind it to let it run. Easier said than done. Over the past few days this trade has been playing snakes and ladders.</li>\r\n 	<li>EUR/GBP: - Nothing has changed for me with this pair.\r\n\r\nI am still somewhat nervous being short, but believe the EUROZONE risks outweigh those of the UK moving forward. My thoughts are that both the EUR &amp; GBP will start to react together moving forward with BREXIT issues and the EUR/GBP will be caught in the crossfire.\r\n\r\nAs mentioned over recent weeks, there are additional EUROZONE headwinds to take into consideration: - FRENCH and GERMAN ELECTIONS, A GREECE DEBT CRISIS (now more immanent) and a looming ITALIAN BANK CRISIS. Therefore, I believe in the longer-term the EUR/GBP will fall much lower.</li>\r\n</ol>\r\n<u>PREMIUM SERVICE PERFORMANCE / RETURN 2017:\r\n\r\n</u>Given that we are at the end of Q1 I thought that it would be a good time to discuss more of my thoughts on 2017 so far, from a PREMIUM SERVICE trading result perspective.\r\n\r\nAs you know, the change and uncertainty in Q1 trading compared with Q4 2016 trading, took me by surprise. Was I naïve to believe that 2017 would be a clearer trading pathway than previous years? Maybe I was.\r\n\r\nI did not account for “THE DONALD” continuing with his tweet onslaught, nor did I ever account for so much uncertainty placed around his administration for his lack of control and poor judgement in what to tweet. But then, I do not think most people could have allowed for this because we are in unknown territory.\r\n\r\nMonetary Policy Divergence is starting to play a role, but at the moment despite FED commentary, it still is not 100% believed by the markets. The other Central banks dotted around the globe believe though, and their rhetoric has mellowed accordingly.\r\n\r\nBasically, I did not allow for such a sea of change. The institutions have spent a great deal of time in Q1 unravelling trades and repositioning themselves and the banks such as Barclays in 90 days have epitomized the rough seas in which we operate by altering their macro views on how the EUR/USD will trade in 2017. They have got all bulled up on the single currency believing tapering and hikes will happen soon because EUROZONE inflation is rising. This belief was kicked back this week with both commentary from the ECB stating policy is NOT changing and Draghi’s recent hawkish tone was walked back due to the fact that German inflation has gone off the boil.\r\n\r\nBARCLAYS FX FORECAST:\r\n\r\nEUR/USD                              Q1                   Q2                   Q3                   Q4\r\n\r\nNov 2016 – Feb 2017:        1.02                1.01                1.01                0.99<u>\r\n\r\n</u>Today:                                    1.09                1.06                1.03                1.05<u>\r\n\r\n</u>I am not saying that they cannot change their forecasting but it very sudden and in my eyes very reactive.\r\n<u>\r\n</u>However, with the above as a backdrop I am disappointed with Q1 overall but not as disappointed as I could have been had I not traded differently and cleansed out trades.\r\n\r\nMARCH 2017:                      Net pips added 673\r\nYEAR TO DATE:                  1,493 pips\r\n\r\n2016-2017 Comparison:    -85 pips behind the 2016 performance so far.\r\n\r\nIn my own mind, I feel like I should be at 3,000 pips net for the year. I have however since the start of the year removed some poor trades totaling 1,500 pips, so I can argue I am still in the zone. However, I need some focus through the next quarter which is very disjointed as I am away for several chunks of it. I love a challenge.\r\n\r\nI am still not actively day trading. All trades are medium to longer-term trades.\r\n\r\nMARCH 2017 – Profit / Loss trade ratios:                       69% / 31%\r\n\r\nYEAR TO DATE – Profit / Loss trade ratios:                   64% / 36%\r\n\r\nImproving, but my goal is 75% / 25%.\r\n\r\nThe bottom line is that I am still confident of achieving the 10,000-pip objective for the year but if the next three quarters offer up the uncertainty of Q1 it will be a nonstop challenge.\r\n<u>\r\n\r\n</u>\r\n\r\n<u>PREMIUM SERVICE - TRADES REVIEW<strong>:</strong></u>\r\n\r\nCURRENT PREMIUM SERVICE - LIVE TRADES:\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/LIVE-02042017.png\"><img class=\"aligncenter size-large wp-image-9334\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/LIVE-02042017-777x1024.png\" alt=\"\" width=\"777\" height=\"1024\" /></a>\r\n\r\nCURRENT PREMIUM SERVICE – LIMIT ORDER TRADES:\r\n\r\n&nbsp;\r\n\r\n<strong><a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/LIMIT-02042017.png\"><img class=\"aligncenter size-large wp-image-9333\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/LIMIT-02042017-792x1024.png\" alt=\"\" width=\"792\" height=\"1024\" /></a> </strong>\r\n\r\n<strong> </strong>\r\n<ol start=\"5\">\r\n 	<li><strong> THE SOAPBOX:</strong></li>\r\n</ol>\r\n&nbsp;\r\n\r\n<strong>LET THE FUN AND GAMES BEGIN (PART TWO):</strong>\r\n\r\nWhere to start.\r\n\r\nLast week ahead of the A50 trigger I laid out basically the timetable of events for the BREXIT negotiations.\r\n\r\nThis week in Part Two, I wanted to take a slightly different view of BREXIT not so much from the day to day squabbles that will happen but the macro level overview of what the remaining 27 members of the EUROPEAN UNION will be looking to get out of BREXIT.\r\n\r\nRemember, we are dealing with the EUROPEAN UNION and Brussels, nothing ever appears as it does on the surface, and beneath there is all sorts going on. If there is one thing since the establishment of the EUROPEAN UNION that I write with confidence is that what is said is not always what is meant and what isn’t said is what is meant.\r\n\r\nThe first couple of points are quite straightforward, without exception, I expect that every member country would be unanimous in the fact that they want the UK to pay up their dues until the very last second. If the UK is let off the hook it would cost them!! The UK leaving as a net contributor is a scare to the smaller countries as they may turn from being net receivers in the UNION to net contributors following BREXIT.\r\n\r\nBefore moving forward, I would imagine that from country to country there are some lines drawn in the sand on what is acceptable and unacceptable for a BREXIT deal. I firmly believe this will be a very messy affair for two years or so and even after the negotiations are complete they must present the deal to the 27 country heads for ratification. This will be a drawn-out procedure with many twists and turns.\r\n\r\nFirst of all, trade is vital to all countries. The EU is not a free trade zone it is 100% bureaucratic and a rain forest of paper is required to get anything agreed. One should bear in mind the EU definition of a cabbage is 350+ pages long. Bear in mind, It took Canada years to get a trade agreement in place with the EU. Nothing is ever carried out at a pace. Everything in the EU is at two speeds; slow and stop. Do not get caught up in Brussels rhetoric.\r\n\r\nI have read reports from various commentators, news bureaus, media outlets and the EU media centre itself to try to get the following information into basically a bullet point format rather than 500 pages worth of commentary.\r\n\r\nThe keys macro areas of concern by country:\r\n<ul>\r\n 	<li>CITIZENS RIGHTS (EU nationals in the UK and UK nationals in the EU):\r\nAustria, Bulgaria, Czech Republic, Greece, Hungary, Italy, Ireland, Latvia, Lithuania, The Netherlands, Poland, Portugal, Romania, Slovakia, Slovenia and Spain.</li>\r\n</ul>\r\n<ul>\r\n 	<li>EU REVISED BUDGET CONTRIBUTIONS:\r\nAustria, Hungary, Italy, Latvia, Lithuania, The Netherlands, Poland, Portugal, Romania, Slovakia, Slovenia and Sweden.</li>\r\n</ul>\r\n<ul>\r\n 	<li>GOOD CONTINUED TRADE RELATIONS with the UK:\r\nBelgium, Czech Republic, Denmark, Estonia, Italy, The Netherlands and Romania</li>\r\n</ul>\r\n<ul>\r\n 	<li>CONTINUED SHARING OF SECURITY INFORMATION:\r\nBelgium, Croatia, Estonia and Portugal.</li>\r\n</ul>\r\n<ul>\r\n 	<li>EU UNITY FOLLOWING BREXIT:\r\nFinland, France, Germany, Malta and Sweden.</li>\r\n</ul>\r\nSo why have I done this research?\r\n\r\nMy main reason was to see if there was a theme. When negotiations start to keep matters positive and have a common agreement moving forward it is an excellent starting point. Now, I am not saying my 5 topics above were the only ones that I could find. There were more, like Tourism, Gibraltar, Scotland etc. but these represent the best tools for common ground in my opinion.\r\n\r\nWhilst the UK basically voted for BREXIT based on anti-freedom of movement I have no doubt that a reciprocal deal will be struck to put at ease all those currently displaced nationals around the EUROPEAN UNION. From a UK matter this would draw a line under existing non-UK nationals residing in the UK and hopefully put those UK nationals living abroad at ease.\r\n\r\nFrom a discussion perspective CITIZENS RIGHTS would in my opinion be a positive to focus on. In addition, the continued sharing of security and border intelligence would seem to benefit both sides of the negotiating table.\r\n\r\nWith regards to EU UNITY and REVISED BUDGET CONTRIBUTIONS following BREXIT, the UK has no interest in these topics and would not feature at all in the BREXIT negotiations.\r\n\r\nThe big one is of course TRADE.\r\n\r\n7 out of 27 countries as far as I could see, have this as important to their futures. Basically, this represents only 25% of the member countries. If I were a negotiator for the UK I would feel a little let down by this number.\r\n\r\nBeing cynical, my take on this is that there is much more than 25%, but as the EU already knows that the UK wants a great trade deal they do not want to declare their hand.\r\n\r\nSo, the upshot is that Donald Tusk stated last Friday that before the UK can discuss with the EU any trade deals or the like, both parties must negotiate what has become known as “the divorce terms”.\r\n\r\nThere is of course a growing number of commentators who are saying that a negotiated settlement may never actually happen as both sides of the table have dug their heels in on how they want to proceed. In fact, do we have a Mexican standoff before we start?\r\n\r\nIt will be fun and games, there will be leaks, there will be rumours, there will be sound-bytes that are favorable describing an accord and there will be sound-bytes highlighting aspiration.\r\n\r\nAs mentioned several times since last June when the BREXIT referendum vote took place, having just two years to organize the BREXIT deal is tight. There are something in the region of 20,000 sets of rules and regulations to effectively manage throughout the divorce proceedings. When you look at the time line that I included last week (repeated below), the fact A50 was triggered on the 29th March means it will be the end of April before the EU leaders discuss BREXIT and then another month before negotiations begin. That is 2 months out of 24 months with zero activity. This does NOT give confidence at all with the time frame suggested. As mentioned on many occasions in the past, it took Greenland two years to exit and they had nothing like the complexities of the UK relationship\r\n\r\n<em>As I understand it, the pathway forward is going to be something like this: -</em>\r\n<ul>\r\n 	<li><em>A50 triggered by UK on March 29th, 2017.\r\n\r\n</em></li>\r\n 	<li><em>On April 29th, 2017, the remaining 27 EU members meet to discuss the UK request to withdraw.\r\n\r\n</em></li>\r\n 	<li><em>There is then a period of two years set aside when negotiations begin. A draft of the deal agreed between both parties is put before the 27 leaders (if this is still the number in two years!!).\r\n\r\n</em></li>\r\n 	<li><em>20 of the current 27 member countries totaling at least 65% of the EU population needs to approve the exit deal.\r\n\r\n</em></li>\r\n 	<li><em>It is then ratified by the European Parliament.\r\n\r\n</em></li>\r\n 	<li><em>If at the end of two years of negotiations nothing is finalized they can be extended only if all member countries agree.\r\n\r\n</em></li>\r\n 	<li><em>If no agreement between the two sides is negotiated. </em><em>The UK leaves the EUROPEAN UNION.\r\n\r\n</em></li>\r\n 	<li><em>The UK Parliament repeals the 1972 European Communities Act.\r\n\r\n</em></li>\r\n 	<li><em>Should the UK want back into the EU it must go through the same procedures that any new entrant applies with.</em></li>\r\n</ul>\r\nAs soon as we hear of multi-national banks leaving the city of London and job losses being announced the UK negotiating position will harden as public pressure to achieve a good deal will be expected. At the same time the EU negotiators do not want to give any preferential treatment for fear of a CONTAGION EFFECT.\r\n\r\nTherefore in my opinion whilst the negotiating doors will be firmly closed, facts and figures will be leaked and there will be volatility attached.\r\n\r\nThere are traders who are saying that cable is building a bottom, which frankly I think is quite dangerous.\r\n\r\nThere is so much uncertainty moving forward.\r\n\r\nAfter two years will we see a negotiated arrangement, something that can transition from what is there now to something new. Would this include a trade arrangement? These can take years to set up but if a framework was in place this would be a bonus for the UK.\r\n\r\nMaybe we will have a negotiated extension because two years is not long enough to finalize an agreement.\r\n\r\nFinally, perhaps the talks could breakdown and both sides could walk away from the negotiating table,\r\n\r\nThere are no guarantees of anything with this complex deal.\r\n\r\nThe pressure for both sides not to show weakness of any kind will be uppermost in everybody’s mind. The sides are starting from a position of mistrust and therefore in my opinion it can only get worse and then a stalemate would ensue.\r\n\r\n…. LET THE FUN AND GAMES BEGIN…. (PART TWO) …\r\n\r\n&nbsp;\r\n<ol start=\"6\">\r\n 	<li><strong> CLOSING THOUGHTS:</strong></li>\r\n</ol>\r\nNothing more to add here, I have said enough except,\r\n\r\nAs usual…\r\n\r\nAlways remember longevity in Forex trading can only be achieved through trading with good RISK and MONEY MANAGEMENT, and above all set your position sizes in accordance with the size of your account and allow for some flexibility.\r\n\r\nTake care, have a great trading week.\r\n\r\nScott Pickering\r\nThe Pip Accumulator\r\nTwitter: @pipaccumulator\r\n<a href=\"http://weeklyfxdrivethru.com/disclaimer/\">http://weeklyfxdrivethru.com/disclaimer/\r\n</a>BLOG VERSION: #133 PREMIUM SERVICE\r\nDATE: 2nd April 2017.\r\n\r\n&nbsp;', 'LET THE GAMES BEGIN (PART TWO)', '', 'publish', 'open', 'closed', '', 'let-games-begin-part-two', '', '', '2017-04-01 14:13:28', '2017-04-01 19:13:28', '', 0, 'https://weeklyfxdrivethru.com/?post_type=member_posts&#038;p=9351', 0, 'member_posts', '', 0);
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(9352, 1, '2017-04-01 14:13:28', '2017-04-01 19:13:28', '<strong>\r\n</strong>\r\n<ol>\r\n 	<li><strong>INTRODUCTION:</strong></li>\r\n</ol>\r\nWow… I must be getting old! This past week has just flown by.\r\n\r\nFrom a trading perspective being positive, I am still adding pips to the yearly total, which now stands at 1,493 pips of net profit.\r\n\r\nI did what I promised I would do during the month of March, which was to remove trades that I felt were going nowhere fast “sticky” and where having them “LIVE” was just preventing me from adding too many other trades because it would extend my RISK beyond the parameters that I am comfortable with. In fact, I removed almost 1,000 pips in total. This was about 25% from normal trading and 75% of the aforementioned “sticky” trades.\r\n\r\nI know that it sounds crazy but even after c.10 years of trading to have those “sticky” trades gone is still an uplifting experience once you have come to terms with banking the loss in both pips and $$$. Thankfully, the trades were small sized, so the pain in $$$ was not as great as it could have been. However, I measure myself in net pips of profit and my annual goal is 10,000 pips. I have beaten this objective in all three years that the PREMIUM SERVICE has been in operation so I have my work cut out this year, which will be, very fragmented due to a house move and early vacation\r\n\r\nOn a further positive note… fingers crossed and also touching wood as I type this… no further software issues.\r\n\r\nLeading on from the pleasantries…\r\n\r\nLast week was dominated by BREXIT and “THE DONALDS” twitter account. Nothing new in this.\r\n\r\nBREXIT – part two comes later in “THE SOAPBOX” in section 5, so I will leave my thoughts, views and commentary until there.\r\n\r\nI was asked what is the rationale for splitting it down as I have, which I explain further below:\r\n<ul>\r\n 	<li>Part One – since the vote and all the shenanigans that have taken place even before the Lisbon Treaty (Article 50) has been triggered.</li>\r\n 	<li>Part Two – A50 triggered what are the 27-remaining member EUROPEAN UNION countries looking for and what is the potential common ground (the easy bits for negotiation) moving forward.</li>\r\n 	<li>Part Three – The Negotiation period and possible outcomes. The new look in Europe and the UK.</li>\r\n 	<li>Part Four – the trades that I will be focused on. Levels of entry. This is more based on the bottoms for reversal trade opportunities.</li>\r\n</ul>\r\nWhilst parts one and two will run back to back, I am not 100% sure parts three and four will immediately follow as I want to see the opening shorts of negotiation, rather than the guesswork and rumours that fill the media pages at the moment.\r\n\r\n“THE DONALD” just cannot help himself. This twitter account of his should be shut down. I understand why he wants it and likes it but it is damaging his presidency and it undermines his team who appear to come under continual scrutiny about their validity and credentials to do the job for which they were hired. He does NOT have enough kids to fill every portfolio!\r\n\r\nHe is back on currency manipulation once again. The Chinese Premier is due to fly in for some Florida Golf soon and “THE DONALD” is laying the groundwork in advance.\r\n\r\nIf TRUMP was so hell bent on punishing all currency manipulators why on earth has he not singled out the SNB. The Swiss Central Bank spent over $65 billion supporting the CHF with currency intervention in 2016. Oh...let me guess why Thomas Jordan has NOT been singled out?\r\n\r\nCould it be that the US does not compete with the Swiss vis-à-vis high-end watch and clock mechanisms? Of course, China competes with the US in the same markets. Very shallow Donald.\r\n\r\nRegarding the markets…\r\n\r\nThe month end and Q1 fix was a volatile affair as institutions re-balanced their FX positioning. The USD took quite a big hit…. From my perspective, it was a buy the dips and sell the rips opportunity. For PREMIUM SERVICE subscribers, I tweeted my exits from several positions late in the Asian session on the 30th just in case the European session was caught up in pre-fixing on the back of the Tusk press conference regarding the response to the UK BREXIT formal letter. At times, I wonder if I am too cautious!\r\n\r\nPlus…\r\n\r\nKeep one eye on GREECE. They have a debt re-payment of €8.2 billion in July this year and guess what? No cash to pay it. This story will develop moving forward over the next few weeks. Be prepared GREECE BAILOUT ACT IV is coming soon to a theatre near you!\r\n\r\nMoving on…\r\n\r\nTHE WEEKLY FX DRIVE THRU – LIVE webinars.\r\n\r\n#9 this Monday 3rd April at 5:30PM.\r\n<ul>\r\n 	<li>To attend live - you need Google Chrome as a browser.</li>\r\n 	<li>You cannot view on smart phones or tablets, only Laptops and Desktops.</li>\r\n</ul>\r\nThe “LIVE WEBINAR” link is below: -\r\n\r\n<a href=\"http://bit.ly/drivethru-live\">http://bit.ly/drivethru-live</a>\r\n\r\nIf you cannot listen live you can check out my You Tube channel,\r\n<strong><em>Scott Pickering</em></strong> <strong><em>Weekly FX Drive Thru</em></strong> for a freshly posted copy of the webinar, usually, within a couple of hours of its completion.\r\n\r\nHere is the link for my you tube channel, when I get too 100 subscribers (if I get there) I can have my own personalized shortened link. If you like the style of my webinar, please subscribe. The benefits are that as soon as a new webinar is posted you are emailed.: -\r\n\r\n<a href=\"https://www.youtube.com/channel/UCV-9VDnNkHjTPBzKqLqCGJw/videos\">https://www.youtube.com/channel/UCV-9VDnNkHjTPBzKqLqCGJw/videos</a>\r\n\r\nAlmost there\r\n\r\nIf you would like to be in the monthly draw to win a “FREE 10-WEEK SUBSCRIPTION” to the PREMIUM SERVICE, valued at CAD$1,000.00, all you have to do is subscribe to receive this FREE NEWSLETTER on my website <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a>  On my welcome page just below my cube logo is where you complete your subscription.\r\n\r\n<strong> </strong>\r\n<ol start=\"2\">\r\n 	<li><strong> THE FX MARKET PLACE – LOOKING FORWARD:</strong></li>\r\n</ol>\r\n<u>ECONOMIC DATA RELEASES:</u>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/ECON-DATA-02042017.png\"><img class=\"aligncenter size-large wp-image-9319\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/ECON-DATA-02042017-1024x991.png\" alt=\"\" width=\"1024\" height=\"991\" /></a>\r\n\r\n&nbsp;\r\n\r\n<u>MY THOUGHTS ON THE WEEK AHEAD:</u>\r\n\r\nA nice busy week coming up with the highlight obviously being NFP on Friday: -\r\n<ol>\r\n 	<li>GBP: The UK dominates this week with a series of PMI data Manufacturing, Services and Construction. This data will either support the calls that cable has bottomed or they will throw the whole BREXIT negotiations and the UK economy uncertainty back to the forefront once again.</li>\r\n 	<li>USD: The NFP release will once again take pride of place regarding the data releases this week. We will be placed once again in a will they (FED) / wont they (FED) hike 2 or 3 times more this year?\r\n\r\nWe also have FOMC meeting minutes and ISM PMI data releases this week. There should be nothing new in the FED minutes.</li>\r\n 	<li>AUD: Not expecting much out of the RBA this week, except more of the same. Retails sales and Trade Balance numbers will be interesting though and could cause a few ripples. Recently AUD data has been pretty dull from a trading perspective.</li>\r\n</ol>\r\nObviously, the BREXIT news will be on the wires at ad-hoc times. I am however, expecting this to calm down as the 27 members of the EU do not meet to formally discuss BREXIT until the end of April and negotiations do not start until the end of May. Nevertheless, we still should be on our toes.\r\n\r\n<u>USD MAJORS – “IMMEDIATE” SUPPORT &amp; RESISTANCE:</u>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/T-CHART-020417.png\"><img class=\"aligncenter size-large wp-image-9320\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/T-CHART-020417-1024x849.png\" alt=\"\" width=\"1024\" height=\"849\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\nThe charts below contain commentary (my thoughts and views), these are the USD major charts that are reflected in the spreadsheet above.\r\n<strong>EUR/USD:</strong>\r\n\r\n<strong> <a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/EURUSD-D-02042017.png\"><img class=\"aligncenter size-large wp-image-9336\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/EURUSD-D-02042017-1024x454.png\" alt=\"\" width=\"1024\" height=\"454\" /></a></strong>\r\n\r\n<strong> </strong>\r\n\r\n<strong>GBP/USD:</strong>\r\n\r\n<strong> <a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/GBPUSD-D-02042017.png\"><img class=\"aligncenter size-large wp-image-9337\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/GBPUSD-D-02042017-1024x454.png\" alt=\"\" width=\"1024\" height=\"454\" /></a></strong>\r\n\r\n<strong> </strong>\r\n\r\n<strong>AUD/USD:</strong>\r\n\r\n<strong> <a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/AUDUSD-D-02042017.png\"><img class=\"aligncenter size-large wp-image-9335\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/AUDUSD-D-02042017-1024x454.png\" alt=\"\" width=\"1024\" height=\"454\" /></a></strong>\r\n\r\n<strong> </strong>\r\n\r\n<strong>NZD/USD:</strong>\r\n\r\n<strong> <a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/NZDUSD-D-02042017.png\"><img class=\"aligncenter size-large wp-image-9338\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/NZDUSD-D-02042017-1024x454.png\" alt=\"\" width=\"1024\" height=\"454\" /></a></strong>\r\n\r\n<strong> </strong>\r\n\r\n<strong>USD/CAD:</strong>\r\n\r\n<strong> <a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/USDCAD-D-02042017.png\"><img class=\"aligncenter size-large wp-image-9339\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/USDCAD-D-02042017-1024x454.png\" alt=\"\" width=\"1024\" height=\"454\" /></a></strong>\r\n\r\n<strong> </strong>\r\n\r\n<strong>USD/CHF:</strong>\r\n\r\n<strong> <a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/USDCHF-D-02042017.png\"><img class=\"aligncenter size-large wp-image-9340\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/USDCHF-D-02042017-1024x454.png\" alt=\"\" width=\"1024\" height=\"454\" /></a></strong>\r\n\r\n<strong> </strong>\r\n\r\n<strong>USD/JPY:</strong>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/USDJPY-D-02042017.png\"><img class=\"aligncenter size-large wp-image-9341\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/USDJPY-D-02042017-1024x454.png\" alt=\"\" width=\"1024\" height=\"454\" /></a>\r\n\r\n&nbsp;\r\n\r\n<strong>\r\n\r\n</strong>\r\n\r\n&nbsp;\r\n<ol start=\"3\">\r\n 	<li><strong> THE PREMIUM SERVICE:</strong></li>\r\n</ol>\r\n<u>WHAT IS THE PREMIUM SERVICE?</u>\r\n\r\nThe PREMIUM SERVICE is a subscriber based Forex support service offering not just trade set-ups, but a bunch of different support services that differentiates the PREMIUM SERVICE from other providers, my competitors, that operate in the same space.\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 PREMIUM SERVICE tab.\r\n\r\nFurther information can be found by clicking TESTIMONIALS, PART-TIME TRADERS and FX PROMOTIONS tabs. To subscribe to THE PREMIUM SERVICE, you will require a valid credit card.\r\n\r\n<u> </u>\r\n\r\n<u>PREMIUM SERVICE PERFORMANCE YEAR TO DATE:</u>\r\n\r\nBelow are current monthly and year to date PREMIUM SERVICE performance statistics. These can also be found on my welcome page under the TAB “THE HISTORY &amp; PERFORMANCE OF THE PREMIUM SERVICE”\r\n\r\nBasically, from the spreadsheets below you can see that for the month of March PREMIUM SERVICE trades generated a net total of 673 pips and for 2017 year to date the pip total sits at 1,493\r\n\r\nOther highlights / lowlights are: -\r\n<ol>\r\n 	<li>Compared with the same point last year 2017 trails 2016 by 85 pips.</li>\r\n 	<li>My ratio of profitable to loss making trades is lagging this year. I am usually in the 75% / 25% area but this year so far it is 64% / 36%. I still have some work to do!</li>\r\n 	<li>My trading this year only shows a total of 21 trades out of 132 trades in total that are based upon shorter–term time horizon’s.</li>\r\n</ol>\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/PREM-SERV-PERF1-MARCH-2017.png\"><img class=\"aligncenter size-large wp-image-9317\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/PREM-SERV-PERF1-MARCH-2017-982x1024.png\" alt=\"\" width=\"982\" height=\"1024\" /></a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/PREM-SERV-PERF2-YTDMARCH2017.png\"><img class=\"aligncenter size-large wp-image-9318\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/PREM-SERV-PERF2-YTDMARCH2017-1024x1000.png\" alt=\"\" width=\"1024\" height=\"1000\" /></a>\r\n\r\n<u>PREMIUM SERVICE –  SUBSCRIBER PROMOTION:</u>\r\n\r\n<strong><u>“DOUBLE IT UP”</u></strong>\r\n\r\nI usually run a PREMIUM SERVICE subscriber promotion at the end of the old year /start of a new year.\r\n\r\nBecause I knew that this year I would be moving home and traveling in Q2, I deliberately decided to wait, to launch a promotion around that time.\r\n\r\nThis is the biggest and I believe the best subscriber promotion that I have ever offered.\r\n\r\nWhat is <strong>“DOUBLE IT UP”</strong> all about…\r\n\r\nBasically, from now until June 30<sup>th,</sup> 2017 anyone who subscribes to the PREMIUM SERVICE through my “SUBSCRIBE HERE” tab at the top of my welcome page will have their subscription period doubled at no extra cost.\r\n\r\nIn addition, all subscriptions regardless of the date of subscribing will not start until June 30th 2017.\r\n\r\nThis means that from the day of joining the PREMIUM SERVICE you will have 100% access. This could give you up to an additional 12 weeks of membership to the PREMIUM SERVICE depending upon the date you subscribe.\r\n\r\nThis 12-week period covers the period that I am moving home and traveling, and therefore there may be days at a time with zero activity, and there will be some because I will be out of coverage and simply on vacation, but it’s all “FREE” in any case, so whatever happens, it is all a bonus anyhow as your subscription period will officially commence June 30th 2017.\r\n\r\nConfirmation of the <strong>“DOUBLE IT UP” </strong>will be contained in the “welcome on board documents” the accompanies your subscription confirmation.\r\n\r\nThis is the best and most generous promotion that I have ever offered since starting the PREMIUM SERVICE and I hope that many of you take advantage.\r\n\r\nI add below my “DRIVE THRU blog / TRADING date charts for 2017, 2018 and 2019.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/03/BLOG-DATES-2017-2019.png\"><img class=\"aligncenter size-large wp-image-9300\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/03/BLOG-DATES-2017-2019-1024x621.png\" alt=\"\" width=\"1024\" height=\"621\" /></a>\r\n\r\nPLUS:\r\n\r\nIf you would like to know a little more about THE PREMIUM SERVICE please feel free to watch the following 40-minute video via the link below:\r\n\r\n<a href=\"http://bit.ly/PremServiceQ217\">http://bit.ly/PremServiceQ217</a>\r\n\r\nPLEASE NOTE: the above video is best viewed using a Google Chrome browser.\r\n\r\n<strong>\r\n</strong>\r\n<ol start=\"4\">\r\n 	<li><strong> PREMIUM SERVICE – SUBSCRIBER CONTENT AREA:</strong></li>\r\n</ol>\r\n<u>TRADING REVIEW:</u>\r\n\r\nI was felling quite comfortable having banked some pips and $$$ late Thursday last week ahead of the month and quarter end.  Wow… that was a volatile London Fix. The FX positioning has really been skewed of late and I guess the Q1 close was an ideal opportunity to dress up the balance sheets. I still find it quite bizarre that institutions still dress up performances for a day. As you all know a balance sheet is just a snapshot on a particular day. It is the trading accounts that give a real position. Are we still this naive?\r\n\r\nI was asked on a few occasions last week if I am happy with my trading in 2017? Talk about a loaded question…\r\n\r\nThe answer is quite simple…NO I am not.\r\n\r\nNothing has changed from the commentaries in this section practically from the start of 2017. The markets are tough to read hour by hour as we are so news driven. The markets turn so quickly you can lose $1,000 a day no problem on shorter term trades. This is why I have almost avoided FLASH and RADAR trading this year and being 100% honest I will continue to do so until I see a change.\r\n\r\nMy days of giving money back to brokers have long gone. Frankly that is a mugs game I no longer participate in. In my opinion you have to trade leaner and be prepared to be very flexible with your stop placements.\r\n\r\nI know many of you would like more shorter-term time framed trades, I understand this but let me give you the example of a current AUD/USD RADAR TRADE (RT755). This trade is going nowhere fast. Granted it has flexed upwards and downwards and I have moved my stop to accommodate some additional moving to the upside, but it has very little momentum in either direction.\r\n\r\nThis can be for several geopolitical and commodity price reasons all mixed in together that nullifies any movement, such as Iron Ore, Gold, Copper and the USD. To give you one reason for this pairs tight trading range, frankly, I would be guessing.\r\n\r\nSo… I am just sitting in this trade. I have 3 other RADAR TRADES at good levels of resistance to enter short. These will be pulled early next week if no action is forthcoming to trigger my entry levels.\r\n\r\nI said last week, maybe I am guilty of over-thinking these markets. Am I doing a “Frasier Crane”, trying to rationalize every potential move? Maybe I am. I like to have a plan. I have a plan, but it’s so slow to fall into place. Do I still believe in my plan? Yes; I do.\r\n\r\nWithout getting too anal; I know I am trying to rationalize a completely irrational market place at times. I mean, when you think about it, the very fact the market moves on the back of a tweet from a buffoon probably does indicate I am putting too many brain cells to work, I am making something that is simple too complicated. However, I do have my TRADE PLAN that has worked so well for over 5 years. I do like to have my fundamental views lined up, together with directional trading to give me a greater confidence. As soon as I let one of my parameters fall I feel that I am weakening my position and reasons to trade.\r\n\r\nThe solution is…. always TRADE YOUR PLAN and be patient.\r\n\r\nWe are trading very tight ranges in most pairs and therefore it is difficult to get too excited each time I sit in front of my screens.\r\n\r\nAt any one time, I have 4/5 trade set up potentials ready to tweet that fall away during the trading day for one reason or another.\r\n\r\nWe are in a different trading environment and therefore we must adjust. As I keep saying we appear to be totally news driven. Fundamentals matter and they will always trump technical set ups in a news driven environment, as technical levels are mostly ignored.\r\n\r\nI spoke earlier in the week with my peer group and everyone’s trading style is suffering to varying degrees. Everyone has amended their approach and position size. So, unfortunately there is no “Holy Grail” out there. My FX approach is for the long haul so I can and will wait / sit this out if necessary. I will not compromise my plan for increased risk. It all comes back to patience.\r\n\r\n&nbsp;\r\n\r\n<u>CORE TRADES:</u>\r\n<ol>\r\n 	<li>EUR/USD and USD/CHF: - I have added and taken off positions. I will still continue to add to these core positions, I can still see the reasons to buy dips and sell rips.\r\n\r\nThe bigger picture is that despite encouraging inflation data, the EUROZONE is facing major / serious headwinds ahead.</li>\r\n 	<li>GBP/USD: - Nothing has really changed in my opinion.\r\n\r\nThere will be some great GBP long trades in the next 12 months. There will be greater opportunities long GBP than maybe those that remain on the short side.\r\n\r\nA50 now triggered and the timeline for the BREXIT is now in play.\r\n\r\nAs I have stated on several occasions, very few people mention capital outflows out of the UK, these could be huge and are critical. This will start to bite sooner rather than later as the financial institutions start to make plans on their new structures inside a freshly shaped EUROPEAN UNION.</li>\r\n 	<li>GBP/JPY: - I am not sure that this will be a core trade moving forward, but of all the GBP x rates, this one has a lot to lose should the cable fall. I am as you know nervous trading JPY related pairs. All I want is 100 pips profit with a stop behind it to let it run. Easier said than done. Over the past few days this trade has been playing snakes and ladders.</li>\r\n 	<li>EUR/GBP: - Nothing has changed for me with this pair.\r\n\r\nI am still somewhat nervous being short, but believe the EUROZONE risks outweigh those of the UK moving forward. My thoughts are that both the EUR &amp; GBP will start to react together moving forward with BREXIT issues and the EUR/GBP will be caught in the crossfire.\r\n\r\nAs mentioned over recent weeks, there are additional EUROZONE headwinds to take into consideration: - FRENCH and GERMAN ELECTIONS, A GREECE DEBT CRISIS (now more immanent) and a looming ITALIAN BANK CRISIS. Therefore, I believe in the longer-term the EUR/GBP will fall much lower.</li>\r\n</ol>\r\n<u>PREMIUM SERVICE PERFORMANCE / RETURN 2017:\r\n\r\n</u>Given that we are at the end of Q1 I thought that it would be a good time to discuss more of my thoughts on 2017 so far, from a PREMIUM SERVICE trading result perspective.\r\n\r\nAs you know, the change and uncertainty in Q1 trading compared with Q4 2016 trading, took me by surprise. Was I naïve to believe that 2017 would be a clearer trading pathway than previous years? Maybe I was.\r\n\r\nI did not account for “THE DONALD” continuing with his tweet onslaught, nor did I ever account for so much uncertainty placed around his administration for his lack of control and poor judgement in what to tweet. But then, I do not think most people could have allowed for this because we are in unknown territory.\r\n\r\nMonetary Policy Divergence is starting to play a role, but at the moment despite FED commentary, it still is not 100% believed by the markets. The other Central banks dotted around the globe believe though, and their rhetoric has mellowed accordingly.\r\n\r\nBasically, I did not allow for such a sea of change. The institutions have spent a great deal of time in Q1 unravelling trades and repositioning themselves and the banks such as Barclays in 90 days have epitomized the rough seas in which we operate by altering their macro views on how the EUR/USD will trade in 2017. They have got all bulled up on the single currency believing tapering and hikes will happen soon because EUROZONE inflation is rising. This belief was kicked back this week with both commentary from the ECB stating policy is NOT changing and Draghi’s recent hawkish tone was walked back due to the fact that German inflation has gone off the boil.\r\n\r\nBARCLAYS FX FORECAST:\r\n\r\nEUR/USD                              Q1                   Q2                   Q3                   Q4\r\n\r\nNov 2016 – Feb 2017:        1.02                1.01                1.01                0.99<u>\r\n\r\n</u>Today:                                    1.09                1.06                1.03                1.05<u>\r\n\r\n</u>I am not saying that they cannot change their forecasting but it very sudden and in my eyes very reactive.\r\n<u>\r\n</u>However, with the above as a backdrop I am disappointed with Q1 overall but not as disappointed as I could have been had I not traded differently and cleansed out trades.\r\n\r\nMARCH 2017:                      Net pips added 673\r\nYEAR TO DATE:                  1,493 pips\r\n\r\n2016-2017 Comparison:    -85 pips behind the 2016 performance so far.\r\n\r\nIn my own mind, I feel like I should be at 3,000 pips net for the year. I have however since the start of the year removed some poor trades totaling 1,500 pips, so I can argue I am still in the zone. However, I need some focus through the next quarter which is very disjointed as I am away for several chunks of it. I love a challenge.\r\n\r\nI am still not actively day trading. All trades are medium to longer-term trades.\r\n\r\nMARCH 2017 – Profit / Loss trade ratios:                       69% / 31%\r\n\r\nYEAR TO DATE – Profit / Loss trade ratios:                   64% / 36%\r\n\r\nImproving, but my goal is 75% / 25%.\r\n\r\nThe bottom line is that I am still confident of achieving the 10,000-pip objective for the year but if the next three quarters offer up the uncertainty of Q1 it will be a nonstop challenge.\r\n<u>\r\n\r\n</u>\r\n\r\n<u>PREMIUM SERVICE - TRADES REVIEW<strong>:</strong></u>\r\n\r\nCURRENT PREMIUM SERVICE - LIVE TRADES:\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/LIVE-02042017.png\"><img class=\"aligncenter size-large wp-image-9334\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/LIVE-02042017-777x1024.png\" alt=\"\" width=\"777\" height=\"1024\" /></a>\r\n\r\nCURRENT PREMIUM SERVICE – LIMIT ORDER TRADES:\r\n\r\n&nbsp;\r\n\r\n<strong><a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/LIMIT-02042017.png\"><img class=\"aligncenter size-large wp-image-9333\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/LIMIT-02042017-792x1024.png\" alt=\"\" width=\"792\" height=\"1024\" /></a> </strong>\r\n\r\n<strong> </strong>\r\n<ol start=\"5\">\r\n 	<li><strong> THE SOAPBOX:</strong></li>\r\n</ol>\r\n&nbsp;\r\n\r\n<strong>LET THE FUN AND GAMES BEGIN (PART TWO):</strong>\r\n\r\nWhere to start.\r\n\r\nLast week ahead of the A50 trigger I laid out basically the timetable of events for the BREXIT negotiations.\r\n\r\nThis week in Part Two, I wanted to take a slightly different view of BREXIT not so much from the day to day squabbles that will happen but the macro level overview of what the remaining 27 members of the EUROPEAN UNION will be looking to get out of BREXIT.\r\n\r\nRemember, we are dealing with the EUROPEAN UNION and Brussels, nothing ever appears as it does on the surface, and beneath there is all sorts going on. If there is one thing since the establishment of the EUROPEAN UNION that I write with confidence is that what is said is not always what is meant and what isn’t said is what is meant.\r\n\r\nThe first couple of points are quite straightforward, without exception, I expect that every member country would be unanimous in the fact that they want the UK to pay up their dues until the very last second. If the UK is let off the hook it would cost them!! The UK leaving as a net contributor is a scare to the smaller countries as they may turn from being net receivers in the UNION to net contributors following BREXIT.\r\n\r\nBefore moving forward, I would imagine that from country to country there are some lines drawn in the sand on what is acceptable and unacceptable for a BREXIT deal. I firmly believe this will be a very messy affair for two years or so and even after the negotiations are complete they must present the deal to the 27 country heads for ratification. This will be a drawn-out procedure with many twists and turns.\r\n\r\nFirst of all, trade is vital to all countries. The EU is not a free trade zone it is 100% bureaucratic and a rain forest of paper is required to get anything agreed. One should bear in mind the EU definition of a cabbage is 350+ pages long. Bear in mind, It took Canada years to get a trade agreement in place with the EU. Nothing is ever carried out at a pace. Everything in the EU is at two speeds; slow and stop. Do not get caught up in Brussels rhetoric.\r\n\r\nI have read reports from various commentators, news bureaus, media outlets and the EU media centre itself to try to get the following information into basically a bullet point format rather than 500 pages worth of commentary.\r\n\r\nThe keys macro areas of concern by country:\r\n<ul>\r\n 	<li>CITIZENS RIGHTS (EU nationals in the UK and UK nationals in the EU):\r\nAustria, Bulgaria, Czech Republic, Greece, Hungary, Italy, Ireland, Latvia, Lithuania, The Netherlands, Poland, Portugal, Romania, Slovakia, Slovenia and Spain.</li>\r\n</ul>\r\n<ul>\r\n 	<li>EU REVISED BUDGET CONTRIBUTIONS:\r\nAustria, Hungary, Italy, Latvia, Lithuania, The Netherlands, Poland, Portugal, Romania, Slovakia, Slovenia and Sweden.</li>\r\n</ul>\r\n<ul>\r\n 	<li>GOOD CONTINUED TRADE RELATIONS with the UK:\r\nBelgium, Czech Republic, Denmark, Estonia, Italy, The Netherlands and Romania</li>\r\n</ul>\r\n<ul>\r\n 	<li>CONTINUED SHARING OF SECURITY INFORMATION:\r\nBelgium, Croatia, Estonia and Portugal.</li>\r\n</ul>\r\n<ul>\r\n 	<li>EU UNITY FOLLOWING BREXIT:\r\nFinland, France, Germany, Malta and Sweden.</li>\r\n</ul>\r\nSo why have I done this research?\r\n\r\nMy main reason was to see if there was a theme. When negotiations start to keep matters positive and have a common agreement moving forward it is an excellent starting point. Now, I am not saying my 5 topics above were the only ones that I could find. There were more, like Tourism, Gibraltar, Scotland etc. but these represent the best tools for common ground in my opinion.\r\n\r\nWhilst the UK basically voted for BREXIT based on anti-freedom of movement I have no doubt that a reciprocal deal will be struck to put at ease all those currently displaced nationals around the EUROPEAN UNION. From a UK matter this would draw a line under existing non-UK nationals residing in the UK and hopefully put those UK nationals living abroad at ease.\r\n\r\nFrom a discussion perspective CITIZENS RIGHTS would in my opinion be a positive to focus on. In addition, the continued sharing of security and border intelligence would seem to benefit both sides of the negotiating table.\r\n\r\nWith regards to EU UNITY and REVISED BUDGET CONTRIBUTIONS following BREXIT, the UK has no interest in these topics and would not feature at all in the BREXIT negotiations.\r\n\r\nThe big one is of course TRADE.\r\n\r\n7 out of 27 countries as far as I could see, have this as important to their futures. Basically, this represents only 25% of the member countries. If I were a negotiator for the UK I would feel a little let down by this number.\r\n\r\nBeing cynical, my take on this is that there is much more than 25%, but as the EU already knows that the UK wants a great trade deal they do not want to declare their hand.\r\n\r\nSo, the upshot is that Donald Tusk stated last Friday that before the UK can discuss with the EU any trade deals or the like, both parties must negotiate what has become known as “the divorce terms”.\r\n\r\nThere is of course a growing number of commentators who are saying that a negotiated settlement may never actually happen as both sides of the table have dug their heels in on how they want to proceed. In fact, do we have a Mexican standoff before we start?\r\n\r\nIt will be fun and games, there will be leaks, there will be rumours, there will be sound-bytes that are favorable describing an accord and there will be sound-bytes highlighting aspiration.\r\n\r\nAs mentioned several times since last June when the BREXIT referendum vote took place, having just two years to organize the BREXIT deal is tight. There are something in the region of 20,000 sets of rules and regulations to effectively manage throughout the divorce proceedings. When you look at the time line that I included last week (repeated below), the fact A50 was triggered on the 29th March means it will be the end of April before the EU leaders discuss BREXIT and then another month before negotiations begin. That is 2 months out of 24 months with zero activity. This does NOT give confidence at all with the time frame suggested. As mentioned on many occasions in the past, it took Greenland two years to exit and they had nothing like the complexities of the UK relationship\r\n\r\n<em>As I understand it, the pathway forward is going to be something like this: -</em>\r\n<ul>\r\n 	<li><em>A50 triggered by UK on March 29th, 2017.\r\n\r\n</em></li>\r\n 	<li><em>On April 29th, 2017, the remaining 27 EU members meet to discuss the UK request to withdraw.\r\n\r\n</em></li>\r\n 	<li><em>There is then a period of two years set aside when negotiations begin. A draft of the deal agreed between both parties is put before the 27 leaders (if this is still the number in two years!!).\r\n\r\n</em></li>\r\n 	<li><em>20 of the current 27 member countries totaling at least 65% of the EU population needs to approve the exit deal.\r\n\r\n</em></li>\r\n 	<li><em>It is then ratified by the European Parliament.\r\n\r\n</em></li>\r\n 	<li><em>If at the end of two years of negotiations nothing is finalized they can be extended only if all member countries agree.\r\n\r\n</em></li>\r\n 	<li><em>If no agreement between the two sides is negotiated. </em><em>The UK leaves the EUROPEAN UNION.\r\n\r\n</em></li>\r\n 	<li><em>The UK Parliament repeals the 1972 European Communities Act.\r\n\r\n</em></li>\r\n 	<li><em>Should the UK want back into the EU it must go through the same procedures that any new entrant applies with.</em></li>\r\n</ul>\r\nAs soon as we hear of multi-national banks leaving the city of London and job losses being announced the UK negotiating position will harden as public pressure to achieve a good deal will be expected. At the same time the EU negotiators do not want to give any preferential treatment for fear of a CONTAGION EFFECT.\r\n\r\nTherefore in my opinion whilst the negotiating doors will be firmly closed, facts and figures will be leaked and there will be volatility attached.\r\n\r\nThere are traders who are saying that cable is building a bottom, which frankly I think is quite dangerous.\r\n\r\nThere is so much uncertainty moving forward.\r\n\r\nAfter two years will we see a negotiated arrangement, something that can transition from what is there now to something new. Would this include a trade arrangement? These can take years to set up but if a framework was in place this would be a bonus for the UK.\r\n\r\nMaybe we will have a negotiated extension because two years is not long enough to finalize an agreement.\r\n\r\nFinally, perhaps the talks could breakdown and both sides could walk away from the negotiating table,\r\n\r\nThere are no guarantees of anything with this complex deal.\r\n\r\nThe pressure for both sides not to show weakness of any kind will be uppermost in everybody’s mind. The sides are starting from a position of mistrust and therefore in my opinion it can only get worse and then a stalemate would ensue.\r\n\r\n…. LET THE FUN AND GAMES BEGIN…. (PART TWO) …\r\n\r\n&nbsp;\r\n<ol start=\"6\">\r\n 	<li><strong> CLOSING THOUGHTS:</strong></li>\r\n</ol>\r\nNothing more to add here, I have said enough except,\r\n\r\nAs usual…\r\n\r\nAlways remember longevity in Forex trading can only be achieved through trading with good RISK and MONEY MANAGEMENT, and above all set your position sizes in accordance with the size of your account and allow for some flexibility.\r\n\r\nTake care, have a great trading week.\r\n\r\nScott Pickering\r\nThe Pip Accumulator\r\nTwitter: @pipaccumulator\r\n<a href=\"http://weeklyfxdrivethru.com/disclaimer/\">http://weeklyfxdrivethru.com/disclaimer/\r\n</a>BLOG VERSION: #133 PREMIUM SERVICE\r\nDATE: 2nd April 2017.\r\n\r\n&nbsp;', 'LET THE GAMES BEGIN (PART TWO)', '', 'inherit', 'closed', 'closed', '', '9351-revision-v1', '', '', '2017-04-01 14:13:28', '2017-04-01 19:13:28', '', 9351, 'https://weeklyfxdrivethru.com/9351-revision-v1/', 0, 'revision', '', 0);
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(9353, 1, '2017-04-01 14:34:25', '2017-04-01 19:34:25', '&nbsp;\r\n<ol>\r\n 	<li><strong>INTRODUCTION:</strong></li>\r\n</ol>\r\nWow… I must be getting old! This past week has just flown by.\r\n\r\nFrom a trading perspective being positive, I am still adding pips to the yearly total, which now stands at 1,493 pips of net profit.\r\n\r\nI did what I promised I would do during the month of March, which was to remove trades that I felt were going nowhere fast “sticky” and where having them “LIVE” was just preventing me from adding too many other trades because it would extend my RISK beyond the parameters that I am comfortable with. In fact, I removed almost 1,000 pips in total. This was about 25% from normal trading and 75% of the aforementioned “sticky” trades.\r\n\r\nI know that it sounds crazy but even after c.10 years of trading to have those “sticky” trades gone is still an uplifting experience once you have come to terms with banking the loss in both pips and $$$. Thankfully, the trades were small sized, so the pain in $$$ was not as great as it could have been. However, I measure myself in net pips of profit and my annual goal is 10,000 pips. I have beaten this objective in all three years that the PREMIUM SERVICE has been in operation so I have my work cut out this year, which will be, very fragmented due to a house move and early vacation\r\n\r\nOn a further positive note… fingers crossed and also touching wood as I type this… no further software issues.\r\n\r\nLeading on from the pleasantries…\r\n\r\nLast week was dominated by BREXIT and “THE DONALDS” twitter account. Nothing new in this.\r\n\r\nBREXIT – part two comes later in “THE SOAPBOX” in section 5, so I will leave my thoughts, views and commentary until there.\r\n\r\nI was asked what is the rationale for splitting it down as I have, which I explain further below:\r\n<ul>\r\n 	<li>Part One – since the vote and all the shenanigans that have taken place even before the Lisbon Treaty (Article 50) has been triggered.</li>\r\n 	<li>Part Two – A50 triggered what are the 27-remaining member EUROPEAN UNION countries looking for and what is the potential common ground (the easy bits for negotiation) moving forward.</li>\r\n 	<li>Part Three – The Negotiation period and possible outcomes. The new look in Europe and the UK.</li>\r\n 	<li>Part Four – the trades that I will be focused on. Levels of entry. This is more based on the bottoms for reversal trade opportunities.</li>\r\n</ul>\r\nWhilst parts one and two will run back to back, I am not 100% sure parts three and four will immediately follow as I want to see the opening shorts of negotiation, rather than the guesswork and rumours that fill the media pages at the moment.\r\n\r\n“THE DONALD” just cannot help himself. This twitter account of his should be shut down. I understand why he wants it and likes it but it is damaging his presidency and it undermines his team who appear to come under continual scrutiny about their validity and credentials to do the job for which they were hired. He does NOT have enough kids to fill every portfolio!\r\n\r\nHe is back on currency manipulation once again. The Chinese Premier is due to fly in for some Florida Golf soon and “THE DONALD” is laying the groundwork in advance.\r\n\r\nIf TRUMP was so hell bent on punishing all currency manipulators why on earth has he not singled out the SNB. The Swiss Central Bank spent over $65 billion supporting the CHF with currency intervention in 2016. Oh...let me guess why Thomas Jordan has NOT been singled out?\r\n\r\nCould it be that the US does not compete with the Swiss vis-à-vis high-end watch and clock mechanisms? Of course, China competes with the US in the same markets. Very shallow Donald.\r\n\r\nRegarding the markets…\r\n\r\nThe month end and Q1 fix was a volatile affair as institutions re-balanced their FX positioning. The USD took quite a big hit…. From my perspective, it was a buy the dips and sell the rips opportunity. For PREMIUM SERVICE subscribers, I tweeted my exits from several positions late in the Asian session on the 30th just in case the European session was caught up in pre-fixing on the back of the Tusk press conference regarding the response to the UK BREXIT formal letter. At times, I wonder if I am too cautious!\r\n\r\nPlus…\r\n\r\nKeep one eye on GREECE. They have a debt re-payment of €8.2 billion in July this year and guess what? No cash to pay it. This story will develop moving forward over the next few weeks. Be prepared GREECE BAILOUT ACT IV is coming soon to a theatre near you!\r\n\r\nMoving on…\r\n\r\nTHE WEEKLY FX DRIVE THRU – LIVE webinars.\r\n\r\n#9 this Monday 3rd April at 5:30PM.\r\n<ul>\r\n 	<li>To attend live - you need Google Chrome as a browser.</li>\r\n 	<li>You cannot view on smart phones or tablets, only Laptops and Desktops.</li>\r\n</ul>\r\nThe “LIVE WEBINAR” link is below: -\r\n\r\n<a href=\"http://bit.ly/drivethru-live\">http://bit.ly/drivethru-live</a>\r\n\r\nIf you cannot listen live you can check out my You Tube channel,\r\n<strong><em>Scott Pickering</em></strong> <strong><em>Weekly FX Drive Thru</em></strong> for a freshly posted copy of the webinar, usually, within a couple of hours of its completion.\r\n\r\nHere is the link for my you tube channel, when I get too 100 subscribers (if I get there) I can have my own personalized shortened link. If you like the style of my webinar, please subscribe. The benefits are that as soon as a new webinar is posted you are emailed.: -\r\n\r\n<a href=\"https://www.youtube.com/channel/UCV-9VDnNkHjTPBzKqLqCGJw/videos\">https://www.youtube.com/channel/UCV-9VDnNkHjTPBzKqLqCGJw/videos</a>\r\n\r\nAlmost there…\r\n\r\nIf you would like to be in the monthly draw to win a “FREE 10-WEEK SUBSCRIPTION” to the PREMIUM SERVICE, valued at CAD$1,000.00, all you have to do is subscribe to receive this FREE NEWSLETTER on my website <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a>  On my welcome page just below my cube logo is where you complete your subscription.\r\n\r\n<strong> </strong>\r\n<ol start=\"2\">\r\n 	<li><strong> THE FX MARKET PLACE – LOOKING FORWARD:</strong></li>\r\n</ol>\r\n<u>ECONOMIC DATA RELEASES:</u>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/ECON-DATA-02042017.png\"><img class=\"aligncenter size-large wp-image-9319\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/ECON-DATA-02042017-1024x991.png\" alt=\"\" width=\"1024\" height=\"991\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n<u>MY THOUGHTS ON THE WEEK AHEAD:</u>\r\n\r\nA nice busy week coming up with the highlight obviously being NFP on Friday: -\r\n<ol>\r\n 	<li>GBP: The UK dominates this week with a series of PMI data Manufacturing, Services and Construction. This data will either support the calls that cable has bottomed or they will throw the whole BREXIT negotiations and the UK economy uncertainty back to the forefront once again.</li>\r\n 	<li>USD: The NFP release will once again take pride of place regarding the data releases this week. We will be placed once again in a will they (FED) / wont they (FED) hike 2 or 3 times more this year?\r\n\r\nWe also have FOMC meeting minutes and ISM PMI data releases this week. There should be nothing new in the FED minutes.</li>\r\n 	<li>AUD: Not expecting much out of the RBA this week, except more of the same. Retails sales and Trade Balance numbers will be interesting though and could cause a few ripples. Recently AUD data has been pretty dull from a trading perspective.</li>\r\n</ol>\r\nObviously, the BREXIT news will be on the wires at ad-hoc times. I am however, expecting this to calm down as the 27 members of the EU do not meet to formally discuss BREXIT until the end of April and negotiations do not start until the end of May. Nevertheless, we still should be on our toes.\r\n\r\n<u>USD MAJORS – “IMMEDIATE” SUPPORT &amp; RESISTANCE:</u>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/T-CHART-020417.png\"><img class=\"aligncenter size-large wp-image-9320\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/T-CHART-020417-1024x849.png\" alt=\"\" width=\"1024\" height=\"849\" /></a>\r\n\r\n&nbsp;\r\n\r\nThe charts below contain commentary (my thoughts and views), these are the USD major charts that are reflected in the spreadsheet above.\r\n<strong>EUR/USD:</strong>\r\n\r\n<strong> <a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/EURUSD-D-02042017.png\"><img class=\"aligncenter size-large wp-image-9336\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/EURUSD-D-02042017-1024x454.png\" alt=\"\" width=\"1024\" height=\"454\" /></a></strong>\r\n\r\n<strong> </strong>\r\n\r\n<strong>GBP/USD:</strong>\r\n\r\n<strong> <a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/GBPUSD-D-02042017.png\"><img class=\"aligncenter size-large wp-image-9337\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/GBPUSD-D-02042017-1024x454.png\" alt=\"\" width=\"1024\" height=\"454\" /></a></strong>\r\n\r\n<strong> </strong>\r\n\r\n<strong>AUD/USD:</strong>\r\n\r\n<strong> <a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/AUDUSD-D-02042017.png\"><img class=\"aligncenter size-large wp-image-9335\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/AUDUSD-D-02042017-1024x454.png\" alt=\"\" width=\"1024\" height=\"454\" /></a></strong>\r\n\r\n<strong> </strong>\r\n\r\n<strong>NZD/USD:</strong>\r\n\r\n<strong> <a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/NZDUSD-D-02042017.png\"><img class=\"aligncenter size-large wp-image-9338\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/NZDUSD-D-02042017-1024x454.png\" alt=\"\" width=\"1024\" height=\"454\" /></a></strong>\r\n\r\n<strong> </strong>\r\n\r\n<strong>USD/CAD:</strong>\r\n\r\n<strong> <a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/USDCAD-D-02042017.png\"><img class=\"aligncenter size-large wp-image-9339\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/USDCAD-D-02042017-1024x454.png\" alt=\"\" width=\"1024\" height=\"454\" /></a></strong>\r\n\r\n<strong> </strong>\r\n\r\n<strong>USD/CHF:</strong>\r\n\r\n<strong> <a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/USDCHF-D-02042017.png\"><img class=\"aligncenter size-large wp-image-9340\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/USDCHF-D-02042017-1024x454.png\" alt=\"\" width=\"1024\" height=\"454\" /></a></strong>\r\n\r\n<strong> </strong>\r\n\r\n<strong>USD/JPY:</strong>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/USDJPY-D-02042017.png\"><img class=\"aligncenter size-large wp-image-9341\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/USDJPY-D-02042017-1024x454.png\" alt=\"\" width=\"1024\" height=\"454\" /></a>\r\n\r\n&nbsp;\r\n\r\n<strong>\r\n</strong>\r\n<ol start=\"3\">\r\n 	<li><strong> THE PREMIUM SERVICE:</strong></li>\r\n</ol>\r\n<u>WHAT IS THE PREMIUM SERVICE?</u>\r\n\r\nThe PREMIUM SERVICE is a subscriber based Forex support service offering not just trade set-ups, but a bunch of different support services that differentiates the PREMIUM SERVICE from other providers, my competitors, that operate in the same space.\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 PREMIUM SERVICE tab.\r\n\r\nFurther information can be found by clicking TESTIMONIALS, PART-TIME TRADERS and FX PROMOTIONS tabs. To subscribe to THE PREMIUM SERVICE, you will require a valid credit card.\r\n\r\n<u> </u>\r\n\r\n<u>PREMIUM SERVICE PERFORMANCE YEAR TO DATE:</u>\r\n\r\nBelow are current monthly and year to date PREMIUM SERVICE performance statistics. These can also be found on my welcome page under the TAB “THE HISTORY &amp; PERFORMANCE OF THE PREMIUM SERVICE”\r\n\r\nBasically, from the spreadsheets below you can see that for the month of March PREMIUM SERVICE trades generated a net total of 673 pips and for 2017 year to date the pip total sits at 1,493\r\n\r\nOther highlights / lowlights are: -\r\n<ol>\r\n 	<li>Compared with the same point last year 2017 trails 2016 by 85 pips.</li>\r\n 	<li>My ratio of profitable to loss making trades is lagging this year. I am usually in the 75% / 25% area but this year so far it is 64% / 36%. I still have some work to do!</li>\r\n 	<li>My trading this year only shows a total of 21 trades out of 132 trades in total that are based upon shorter–term time horizon’s.</li>\r\n</ol>\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/PREM-SERV-PERF1-MARCH-2017.png\"><img class=\"aligncenter size-large wp-image-9317\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/PREM-SERV-PERF1-MARCH-2017-982x1024.png\" alt=\"\" width=\"982\" height=\"1024\" /></a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/PREM-SERV-PERF2-YTDMARCH2017.png\"><img class=\"aligncenter size-large wp-image-9318\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/PREM-SERV-PERF2-YTDMARCH2017-1024x1000.png\" alt=\"\" width=\"1024\" height=\"1000\" /></a>\r\n<u>PREMIUM SERVICE –  SUBSCRIBER PROMOTION:</u>\r\n\r\n<strong><u>“DOUBLE IT UP”</u></strong>\r\n\r\nI usually run a PREMIUM SERVICE subscriber promotion at the end of the old year /start of a new year.\r\n\r\nBecause I knew that this year I would be moving home and traveling in Q2, I deliberately decided to wait, to launch a promotion around that time.\r\n\r\nThis is the biggest and I believe the best subscriber promotion that I have ever offered.\r\n\r\nWhat is <strong>“DOUBLE IT UP”</strong> all about…\r\n\r\nBasically, from now until June 30<sup>th,</sup> 2017 anyone who subscribes to the PREMIUM SERVICE through my “SUBSCRIBE HERE” tab at the top of my welcome page will have their subscription period doubled at no extra cost.\r\n\r\nIn addition, all subscriptions regardless of the date of subscribing will not start until June 30th 2017.\r\n\r\nThis means that from the day of joining the PREMIUM SERVICE you will have 100% access. This could give you up to an additional 12 weeks of membership to the PREMIUM SERVICE depending upon the date you subscribe.\r\n\r\nThis 12-week period covers the period that I am moving home and traveling, and therefore there may be days at a time with zero activity, and there will be some because I will be out of coverage and simply on vacation, but it’s all “FREE” in any case, so whatever happens, it is all a bonus anyhow as your subscription period will officially commence June 30th 2017.\r\n\r\nConfirmation of the <strong>“DOUBLE IT UP” </strong>will be contained in the “welcome on board documents” the accompanies your subscription confirmation.\r\n\r\nThis is the best and most generous promotion that I have ever offered since starting the PREMIUM SERVICE and I hope that many of you take advantage.\r\n\r\nI add below my “DRIVE THRU blog / TRADING date charts for 2017, 2018 and 2019.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/03/BLOG-DATES-2017-2019.png\"><img class=\"aligncenter size-large wp-image-9300\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/03/BLOG-DATES-2017-2019-1024x621.png\" alt=\"\" width=\"1024\" height=\"621\" /></a>\r\n\r\n&nbsp;\r\n\r\nPLUS:\r\n\r\nIf you would like to know a little more about THE PREMIUM SERVICE please feel free to watch the following 40-minute video via the link below:\r\n\r\n<a href=\"http://bit.ly/PremServiceQ217\">http://bit.ly/PremServiceQ217</a>\r\n\r\nPLEASE NOTE: the above video is best viewed using a Google Chrome browser.<strong>\r\n\r\n</strong>\r\n<ol start=\"4\">\r\n 	<li><strong> PREMIUM SERVICE – SUBSCRIBER CONTENT AREA:</strong></li>\r\n</ol>\r\n<ol start=\"5\">\r\n 	<li><strong> THE SOAPBOX:</strong></li>\r\n</ol>\r\n<strong>LET THE FUN AND GAMES BEGIN (PART TWO):</strong>\r\n\r\nWhere to start.\r\n\r\nLast week ahead of the A50 trigger I laid out basically the timetable of events for the BREXIT negotiations.\r\n\r\nThis week in Part Two, I wanted to take a slightly different view of BREXIT not so much from the day to day squabbles that will happen but the macro level overview of what the remaining 27 members of the EUROPEAN UNION will be looking to get out of BREXIT.\r\n\r\nRemember, we are dealing with the EUROPEAN UNION and Brussels, nothing ever appears as it does on the surface, and beneath there is all sorts going on. If there is one thing since the establishment of the EUROPEAN UNION that I write with confidence is that what is said is not always what is meant and what isn’t said is what is meant.\r\n\r\nThe first couple of points are quite straightforward, without exception, I expect that every member country would be unanimous in the fact that they want the UK to pay up their dues until the very last second. If the UK is let off the hook it would cost them!! The UK leaving as a net contributor is a scare to the smaller countries as they may turn from being net receivers in the UNION to net contributors following BREXIT.\r\n\r\nBefore moving forward, I would imagine that from country to country there are some lines drawn in the sand on what is acceptable and unacceptable for a BREXIT deal. I firmly believe this will be a very messy affair for two years or so and even after the negotiations are complete they must present the deal to the 27 country heads for ratification. This will be a drawn-out procedure with many twists and turns.\r\n\r\nFirst of all, trade is vital to all countries. The EU is not a free trade zone it is 100% bureaucratic and a rain forest of paper is required to get anything agreed. One should bear in mind the EU definition of a cabbage is 350+ pages long. Bear in mind, It took Canada years to get a trade agreement in place with the EU. Nothing is ever carried out at a pace. Everything in the EU is at two speeds; slow and stop. Do not get caught up in Brussels rhetoric.\r\n\r\nI have read reports from various commentators, news bureaus, media outlets and the EU media centre itself to try to get the following information into basically a bullet point format rather than 500 pages worth of commentary.\r\n\r\nThe keys macro areas of concern by country:\r\n<ul>\r\n 	<li>CITIZENS RIGHTS (EU nationals in the UK and UK nationals in the EU):\r\nAustria, Bulgaria, Czech Republic, Greece, Hungary, Italy, Ireland, Latvia, Lithuania, The Netherlands, Poland, Portugal, Romania, Slovakia, Slovenia and Spain.</li>\r\n</ul>\r\n<ul>\r\n 	<li>EU REVISED BUDGET CONTRIBUTIONS:\r\nAustria, Hungary, Italy, Latvia, Lithuania, The Netherlands, Poland, Portugal, Romania, Slovakia, Slovenia and Sweden.</li>\r\n</ul>\r\n<ul>\r\n 	<li>GOOD CONTINUED TRADE RELATIONS with the UK:\r\nBelgium, Czech Republic, Denmark, Estonia, Italy, The Netherlands and Romania</li>\r\n</ul>\r\n<ul>\r\n 	<li>CONTINUED SHARING OF SECURITY INFORMATION:\r\nBelgium, Croatia, Estonia and Portugal.</li>\r\n</ul>\r\n<ul>\r\n 	<li>EU UNITY FOLLOWING BREXIT:\r\nFinland, France, Germany, Malta and Sweden.</li>\r\n</ul>\r\nSo why have I done this research?\r\n\r\nMy main reason was to see if there was a theme. When negotiations start to keep matters positive and have a common agreement moving forward it is an excellent starting point. Now, I am not saying my 5 topics above were the only ones that I could find. There were more, like Tourism, Gibraltar, Scotland etc. but these represent the best tools for common ground in my opinion.\r\n\r\nWhilst the UK basically voted for BREXIT based on anti-freedom of movement I have no doubt that a reciprocal deal will be struck to put at ease all those currently displaced nationals around the EUROPEAN UNION. From a UK matter this would draw a line under existing non-UK nationals residing in the UK and hopefully put those UK nationals living abroad at ease.\r\n\r\nFrom a discussion perspective CITIZENS RIGHTS would in my opinion be a positive to focus on. In addition, the continued sharing of security and border intelligence would seem to benefit both sides of the negotiating table.\r\n\r\nWith regards to EU UNITY and REVISED BUDGET CONTRIBUTIONS following BREXIT, the UK has no interest in these topics and would not feature at all in the BREXIT negotiations.\r\n\r\nThe big one is of course TRADE.\r\n\r\n7 out of 27 countries as far as I could see, have this as important to their futures. Basically, this represents only 25% of the member countries. If I were a negotiator for the UK I would feel a little let down by this number.\r\n\r\nBeing cynical, my take on this is that there is much more than 25%, but as the EU already knows that the UK wants a great trade deal they do not want to declare their hand.\r\n\r\nSo, the upshot is that Donald Tusk stated last Friday that before the UK can discuss with the EU any trade deals or the like, both parties must negotiate what has become known as “the divorce terms”.\r\n\r\nThere is of course a growing number of commentators who are saying that a negotiated settlement may never actually happen as both sides of the table have dug their heels in on how they want to proceed. In fact, do we have a Mexican standoff before we start?\r\n\r\nIt will be fun and games, there will be leaks, there will be rumours, there will be sound-bytes that are favorable describing an accord and there will be sound-bytes highlighting aspiration.\r\n\r\nAs mentioned several times since last June when the BREXIT referendum vote took place, having just two years to organize the BREXIT deal is tight. There are something in the region of 20,000 sets of rules and regulations to effectively manage throughout the divorce proceedings. When you look at the time line that I included last week (repeated below), the fact A50 was triggered on the 29th March means it will be the end of April before the EU leaders discuss BREXIT and then another month before negotiations begin. That is 2 months out of 24 months with zero activity. This does NOT give confidence at all with the time frame suggested. As mentioned on many occasions in the past, it took Greenland two years to exit and they had nothing like the complexities of the UK relationship.\r\n\r\n<em>As I understand it, the pathway forward is going to be something like this: -</em>\r\n<ul>\r\n 	<li><em>A50 triggered by UK on March 29th, 2017.\r\n\r\n</em></li>\r\n 	<li><em>On April 29th, 2017, the remaining 27 EU members meet to discuss the UK request to withdraw.\r\n\r\n</em></li>\r\n 	<li><em>There is then a period of two years set aside when negotiations begin. A draft of the deal agreed between both parties is put before the 27 leaders (if this is still the number in two years!!).\r\n\r\n</em></li>\r\n 	<li><em>20 of the current 27 member countries totaling at least 65% of the EU population needs to approve the exit deal.\r\n\r\n</em></li>\r\n 	<li><em>It is then ratified by the European Parliament.\r\n\r\n</em></li>\r\n 	<li><em>If at the end of two years of negotiations nothing is finalized they can be extended only if all member countries agree.\r\n\r\n</em></li>\r\n 	<li><em>If no agreement between the two sides is negotiated. </em><em>The UK leaves the EUROPEAN UNION.\r\n\r\n</em></li>\r\n 	<li><em>The UK Parliament repeals the 1972 European Communities Act.\r\n\r\n</em></li>\r\n 	<li><em>Should the UK want back into the EU it must go through the same procedures that any new entrant applies with.</em></li>\r\n</ul>\r\nAs soon as we hear of multi-national banks leaving the city of London and job losses being announced the UK negotiating position will harden as public pressure to achieve a good deal will be expected. At the same time the EU negotiators do not want to give any preferential treatment for fear of a CONTAGION EFFECT.\r\n\r\nTherefore in my opinion whilst the negotiating doors will be firmly closed, facts and figures will be leaked and there will be volatility attached.\r\n\r\nThere are traders who are saying that cable is building a bottom, which frankly I think is quite dangerous.\r\n\r\nThere is so much uncertainty moving forward.\r\n\r\nAfter two years will we see a negotiated arrangement, something that can transition from what is there now to something new. Would this include a trade arrangement? These can take years to set up but if a framework was in place this would be a bonus for the UK.\r\n\r\nMaybe we will have a negotiated extension because two years is not long enough to finalize an agreement.\r\n\r\nFinally, perhaps the talks could breakdown and both sides could walk away from the negotiating table,\r\n\r\nThere are no guarantees of anything with this complex deal.\r\n\r\nThe pressure for both sides not to show weakness of any kind will be uppermost in everybody’s mind. The sides are starting from a position of mistrust and therefore in my opinion it can only get worse and then a stalemate would ensue.\r\n\r\n…. LET THE FUN AND GAMES BEGIN…. (PART TWO) …\r\n\r\n&nbsp;\r\n<ol start=\"6\">\r\n 	<li><strong> CLOSING THOUGHTS:</strong></li>\r\n</ol>\r\nNothing more to add here, I have said enough except,\r\n\r\nAs usual…\r\n\r\nAlways remember longevity in Forex trading can only be achieved through trading with good RISK and MONEY MANAGEMENT, and above all set your position sizes in accordance with the size of your account and allow for some flexibility.\r\n\r\nTake care, have a great trading week.\r\n\r\nScott Pickering\r\nThe Pip Accumulator\r\nTwitter: @pipaccumulator\r\n<a href=\"http://weeklyfxdrivethru.com/disclaimer/\">http://weeklyfxdrivethru.com/disclaimer/\r\n</a>BLOG VERSION: #237 FREE NEWSLETTER\r\nDATE: 2nd April 2017.', 'LET THE GAMES BEGIN (PART TWO):', '', 'publish', 'open', 'closed', '', 'let-games-begin-part-two', '', '', '2017-04-01 14:34:25', '2017-04-01 19:34:25', '', 0, 'https://weeklyfxdrivethru.com/?p=9353', 0, 'post', '', 0);
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(9354, 1, '2017-04-01 14:34:25', '2017-04-01 19:34:25', '&nbsp;\r\n<ol>\r\n 	<li><strong>INTRODUCTION:</strong></li>\r\n</ol>\r\nWow… I must be getting old! This past week has just flown by.\r\n\r\nFrom a trading perspective being positive, I am still adding pips to the yearly total, which now stands at 1,493 pips of net profit.\r\n\r\nI did what I promised I would do during the month of March, which was to remove trades that I felt were going nowhere fast “sticky” and where having them “LIVE” was just preventing me from adding too many other trades because it would extend my RISK beyond the parameters that I am comfortable with. In fact, I removed almost 1,000 pips in total. This was about 25% from normal trading and 75% of the aforementioned “sticky” trades.\r\n\r\nI know that it sounds crazy but even after c.10 years of trading to have those “sticky” trades gone is still an uplifting experience once you have come to terms with banking the loss in both pips and $$$. Thankfully, the trades were small sized, so the pain in $$$ was not as great as it could have been. However, I measure myself in net pips of profit and my annual goal is 10,000 pips. I have beaten this objective in all three years that the PREMIUM SERVICE has been in operation so I have my work cut out this year, which will be, very fragmented due to a house move and early vacation\r\n\r\nOn a further positive note… fingers crossed and also touching wood as I type this… no further software issues.\r\n\r\nLeading on from the pleasantries…\r\n\r\nLast week was dominated by BREXIT and “THE DONALDS” twitter account. Nothing new in this.\r\n\r\nBREXIT – part two comes later in “THE SOAPBOX” in section 5, so I will leave my thoughts, views and commentary until there.\r\n\r\nI was asked what is the rationale for splitting it down as I have, which I explain further below:\r\n<ul>\r\n 	<li>Part One – since the vote and all the shenanigans that have taken place even before the Lisbon Treaty (Article 50) has been triggered.</li>\r\n 	<li>Part Two – A50 triggered what are the 27-remaining member EUROPEAN UNION countries looking for and what is the potential common ground (the easy bits for negotiation) moving forward.</li>\r\n 	<li>Part Three – The Negotiation period and possible outcomes. The new look in Europe and the UK.</li>\r\n 	<li>Part Four – the trades that I will be focused on. Levels of entry. This is more based on the bottoms for reversal trade opportunities.</li>\r\n</ul>\r\nWhilst parts one and two will run back to back, I am not 100% sure parts three and four will immediately follow as I want to see the opening shorts of negotiation, rather than the guesswork and rumours that fill the media pages at the moment.\r\n\r\n“THE DONALD” just cannot help himself. This twitter account of his should be shut down. I understand why he wants it and likes it but it is damaging his presidency and it undermines his team who appear to come under continual scrutiny about their validity and credentials to do the job for which they were hired. He does NOT have enough kids to fill every portfolio!\r\n\r\nHe is back on currency manipulation once again. The Chinese Premier is due to fly in for some Florida Golf soon and “THE DONALD” is laying the groundwork in advance.\r\n\r\nIf TRUMP was so hell bent on punishing all currency manipulators why on earth has he not singled out the SNB. The Swiss Central Bank spent over $65 billion supporting the CHF with currency intervention in 2016. Oh...let me guess why Thomas Jordan has NOT been singled out?\r\n\r\nCould it be that the US does not compete with the Swiss vis-à-vis high-end watch and clock mechanisms? Of course, China competes with the US in the same markets. Very shallow Donald.\r\n\r\nRegarding the markets…\r\n\r\nThe month end and Q1 fix was a volatile affair as institutions re-balanced their FX positioning. The USD took quite a big hit…. From my perspective, it was a buy the dips and sell the rips opportunity. For PREMIUM SERVICE subscribers, I tweeted my exits from several positions late in the Asian session on the 30th just in case the European session was caught up in pre-fixing on the back of the Tusk press conference regarding the response to the UK BREXIT formal letter. At times, I wonder if I am too cautious!\r\n\r\nPlus…\r\n\r\nKeep one eye on GREECE. They have a debt re-payment of €8.2 billion in July this year and guess what? No cash to pay it. This story will develop moving forward over the next few weeks. Be prepared GREECE BAILOUT ACT IV is coming soon to a theatre near you!\r\n\r\nMoving on…\r\n\r\nTHE WEEKLY FX DRIVE THRU – LIVE webinars.\r\n\r\n#9 this Monday 3rd April at 5:30PM.\r\n<ul>\r\n 	<li>To attend live - you need Google Chrome as a browser.</li>\r\n 	<li>You cannot view on smart phones or tablets, only Laptops and Desktops.</li>\r\n</ul>\r\nThe “LIVE WEBINAR” link is below: -\r\n\r\n<a href=\"http://bit.ly/drivethru-live\">http://bit.ly/drivethru-live</a>\r\n\r\nIf you cannot listen live you can check out my You Tube channel,\r\n<strong><em>Scott Pickering</em></strong> <strong><em>Weekly FX Drive Thru</em></strong> for a freshly posted copy of the webinar, usually, within a couple of hours of its completion.\r\n\r\nHere is the link for my you tube channel, when I get too 100 subscribers (if I get there) I can have my own personalized shortened link. If you like the style of my webinar, please subscribe. The benefits are that as soon as a new webinar is posted you are emailed.: -\r\n\r\n<a href=\"https://www.youtube.com/channel/UCV-9VDnNkHjTPBzKqLqCGJw/videos\">https://www.youtube.com/channel/UCV-9VDnNkHjTPBzKqLqCGJw/videos</a>\r\n\r\nAlmost there…\r\n\r\nIf you would like to be in the monthly draw to win a “FREE 10-WEEK SUBSCRIPTION” to the PREMIUM SERVICE, valued at CAD$1,000.00, all you have to do is subscribe to receive this FREE NEWSLETTER on my website <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a>  On my welcome page just below my cube logo is where you complete your subscription.\r\n\r\n<strong> </strong>\r\n<ol start=\"2\">\r\n 	<li><strong> THE FX MARKET PLACE – LOOKING FORWARD:</strong></li>\r\n</ol>\r\n<u>ECONOMIC DATA RELEASES:</u>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/ECON-DATA-02042017.png\"><img class=\"aligncenter size-large wp-image-9319\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/ECON-DATA-02042017-1024x991.png\" alt=\"\" width=\"1024\" height=\"991\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n<u>MY THOUGHTS ON THE WEEK AHEAD:</u>\r\n\r\nA nice busy week coming up with the highlight obviously being NFP on Friday: -\r\n<ol>\r\n 	<li>GBP: The UK dominates this week with a series of PMI data Manufacturing, Services and Construction. This data will either support the calls that cable has bottomed or they will throw the whole BREXIT negotiations and the UK economy uncertainty back to the forefront once again.</li>\r\n 	<li>USD: The NFP release will once again take pride of place regarding the data releases this week. We will be placed once again in a will they (FED) / wont they (FED) hike 2 or 3 times more this year?\r\n\r\nWe also have FOMC meeting minutes and ISM PMI data releases this week. There should be nothing new in the FED minutes.</li>\r\n 	<li>AUD: Not expecting much out of the RBA this week, except more of the same. Retails sales and Trade Balance numbers will be interesting though and could cause a few ripples. Recently AUD data has been pretty dull from a trading perspective.</li>\r\n</ol>\r\nObviously, the BREXIT news will be on the wires at ad-hoc times. I am however, expecting this to calm down as the 27 members of the EU do not meet to formally discuss BREXIT until the end of April and negotiations do not start until the end of May. Nevertheless, we still should be on our toes.\r\n\r\n<u>USD MAJORS – “IMMEDIATE” SUPPORT &amp; RESISTANCE:</u>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/T-CHART-020417.png\"><img class=\"aligncenter size-large wp-image-9320\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/T-CHART-020417-1024x849.png\" alt=\"\" width=\"1024\" height=\"849\" /></a>\r\n\r\n&nbsp;\r\n\r\nThe charts below contain commentary (my thoughts and views), these are the USD major charts that are reflected in the spreadsheet above.\r\n<strong>EUR/USD:</strong>\r\n\r\n<strong> <a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/EURUSD-D-02042017.png\"><img class=\"aligncenter size-large wp-image-9336\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/EURUSD-D-02042017-1024x454.png\" alt=\"\" width=\"1024\" height=\"454\" /></a></strong>\r\n\r\n<strong> </strong>\r\n\r\n<strong>GBP/USD:</strong>\r\n\r\n<strong> <a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/GBPUSD-D-02042017.png\"><img class=\"aligncenter size-large wp-image-9337\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/GBPUSD-D-02042017-1024x454.png\" alt=\"\" width=\"1024\" height=\"454\" /></a></strong>\r\n\r\n<strong> </strong>\r\n\r\n<strong>AUD/USD:</strong>\r\n\r\n<strong> <a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/AUDUSD-D-02042017.png\"><img class=\"aligncenter size-large wp-image-9335\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/AUDUSD-D-02042017-1024x454.png\" alt=\"\" width=\"1024\" height=\"454\" /></a></strong>\r\n\r\n<strong> </strong>\r\n\r\n<strong>NZD/USD:</strong>\r\n\r\n<strong> <a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/NZDUSD-D-02042017.png\"><img class=\"aligncenter size-large wp-image-9338\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/NZDUSD-D-02042017-1024x454.png\" alt=\"\" width=\"1024\" height=\"454\" /></a></strong>\r\n\r\n<strong> </strong>\r\n\r\n<strong>USD/CAD:</strong>\r\n\r\n<strong> <a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/USDCAD-D-02042017.png\"><img class=\"aligncenter size-large wp-image-9339\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/USDCAD-D-02042017-1024x454.png\" alt=\"\" width=\"1024\" height=\"454\" /></a></strong>\r\n\r\n<strong> </strong>\r\n\r\n<strong>USD/CHF:</strong>\r\n\r\n<strong> <a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/USDCHF-D-02042017.png\"><img class=\"aligncenter size-large wp-image-9340\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/USDCHF-D-02042017-1024x454.png\" alt=\"\" width=\"1024\" height=\"454\" /></a></strong>\r\n\r\n<strong> </strong>\r\n\r\n<strong>USD/JPY:</strong>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/USDJPY-D-02042017.png\"><img class=\"aligncenter size-large wp-image-9341\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/USDJPY-D-02042017-1024x454.png\" alt=\"\" width=\"1024\" height=\"454\" /></a>\r\n\r\n&nbsp;\r\n\r\n<strong>\r\n</strong>\r\n<ol start=\"3\">\r\n 	<li><strong> THE PREMIUM SERVICE:</strong></li>\r\n</ol>\r\n<u>WHAT IS THE PREMIUM SERVICE?</u>\r\n\r\nThe PREMIUM SERVICE is a subscriber based Forex support service offering not just trade set-ups, but a bunch of different support services that differentiates the PREMIUM SERVICE from other providers, my competitors, that operate in the same space.\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 PREMIUM SERVICE tab.\r\n\r\nFurther information can be found by clicking TESTIMONIALS, PART-TIME TRADERS and FX PROMOTIONS tabs. To subscribe to THE PREMIUM SERVICE, you will require a valid credit card.\r\n\r\n<u> </u>\r\n\r\n<u>PREMIUM SERVICE PERFORMANCE YEAR TO DATE:</u>\r\n\r\nBelow are current monthly and year to date PREMIUM SERVICE performance statistics. These can also be found on my welcome page under the TAB “THE HISTORY &amp; PERFORMANCE OF THE PREMIUM SERVICE”\r\n\r\nBasically, from the spreadsheets below you can see that for the month of March PREMIUM SERVICE trades generated a net total of 673 pips and for 2017 year to date the pip total sits at 1,493\r\n\r\nOther highlights / lowlights are: -\r\n<ol>\r\n 	<li>Compared with the same point last year 2017 trails 2016 by 85 pips.</li>\r\n 	<li>My ratio of profitable to loss making trades is lagging this year. I am usually in the 75% / 25% area but this year so far it is 64% / 36%. I still have some work to do!</li>\r\n 	<li>My trading this year only shows a total of 21 trades out of 132 trades in total that are based upon shorter–term time horizon’s.</li>\r\n</ol>\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/PREM-SERV-PERF1-MARCH-2017.png\"><img class=\"aligncenter size-large wp-image-9317\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/PREM-SERV-PERF1-MARCH-2017-982x1024.png\" alt=\"\" width=\"982\" height=\"1024\" /></a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/PREM-SERV-PERF2-YTDMARCH2017.png\"><img class=\"aligncenter size-large wp-image-9318\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/PREM-SERV-PERF2-YTDMARCH2017-1024x1000.png\" alt=\"\" width=\"1024\" height=\"1000\" /></a>\r\n<u>PREMIUM SERVICE –  SUBSCRIBER PROMOTION:</u>\r\n\r\n<strong><u>“DOUBLE IT UP”</u></strong>\r\n\r\nI usually run a PREMIUM SERVICE subscriber promotion at the end of the old year /start of a new year.\r\n\r\nBecause I knew that this year I would be moving home and traveling in Q2, I deliberately decided to wait, to launch a promotion around that time.\r\n\r\nThis is the biggest and I believe the best subscriber promotion that I have ever offered.\r\n\r\nWhat is <strong>“DOUBLE IT UP”</strong> all about…\r\n\r\nBasically, from now until June 30<sup>th,</sup> 2017 anyone who subscribes to the PREMIUM SERVICE through my “SUBSCRIBE HERE” tab at the top of my welcome page will have their subscription period doubled at no extra cost.\r\n\r\nIn addition, all subscriptions regardless of the date of subscribing will not start until June 30th 2017.\r\n\r\nThis means that from the day of joining the PREMIUM SERVICE you will have 100% access. This could give you up to an additional 12 weeks of membership to the PREMIUM SERVICE depending upon the date you subscribe.\r\n\r\nThis 12-week period covers the period that I am moving home and traveling, and therefore there may be days at a time with zero activity, and there will be some because I will be out of coverage and simply on vacation, but it’s all “FREE” in any case, so whatever happens, it is all a bonus anyhow as your subscription period will officially commence June 30th 2017.\r\n\r\nConfirmation of the <strong>“DOUBLE IT UP” </strong>will be contained in the “welcome on board documents” the accompanies your subscription confirmation.\r\n\r\nThis is the best and most generous promotion that I have ever offered since starting the PREMIUM SERVICE and I hope that many of you take advantage.\r\n\r\nI add below my “DRIVE THRU blog / TRADING date charts for 2017, 2018 and 2019.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/03/BLOG-DATES-2017-2019.png\"><img class=\"aligncenter size-large wp-image-9300\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/03/BLOG-DATES-2017-2019-1024x621.png\" alt=\"\" width=\"1024\" height=\"621\" /></a>\r\n\r\n&nbsp;\r\n\r\nPLUS:\r\n\r\nIf you would like to know a little more about THE PREMIUM SERVICE please feel free to watch the following 40-minute video via the link below:\r\n\r\n<a href=\"http://bit.ly/PremServiceQ217\">http://bit.ly/PremServiceQ217</a>\r\n\r\nPLEASE NOTE: the above video is best viewed using a Google Chrome browser.<strong>\r\n\r\n</strong>\r\n<ol start=\"4\">\r\n 	<li><strong> PREMIUM SERVICE – SUBSCRIBER CONTENT AREA:</strong></li>\r\n</ol>\r\n<ol start=\"5\">\r\n 	<li><strong> THE SOAPBOX:</strong></li>\r\n</ol>\r\n<strong>LET THE FUN AND GAMES BEGIN (PART TWO):</strong>\r\n\r\nWhere to start.\r\n\r\nLast week ahead of the A50 trigger I laid out basically the timetable of events for the BREXIT negotiations.\r\n\r\nThis week in Part Two, I wanted to take a slightly different view of BREXIT not so much from the day to day squabbles that will happen but the macro level overview of what the remaining 27 members of the EUROPEAN UNION will be looking to get out of BREXIT.\r\n\r\nRemember, we are dealing with the EUROPEAN UNION and Brussels, nothing ever appears as it does on the surface, and beneath there is all sorts going on. If there is one thing since the establishment of the EUROPEAN UNION that I write with confidence is that what is said is not always what is meant and what isn’t said is what is meant.\r\n\r\nThe first couple of points are quite straightforward, without exception, I expect that every member country would be unanimous in the fact that they want the UK to pay up their dues until the very last second. If the UK is let off the hook it would cost them!! The UK leaving as a net contributor is a scare to the smaller countries as they may turn from being net receivers in the UNION to net contributors following BREXIT.\r\n\r\nBefore moving forward, I would imagine that from country to country there are some lines drawn in the sand on what is acceptable and unacceptable for a BREXIT deal. I firmly believe this will be a very messy affair for two years or so and even after the negotiations are complete they must present the deal to the 27 country heads for ratification. This will be a drawn-out procedure with many twists and turns.\r\n\r\nFirst of all, trade is vital to all countries. The EU is not a free trade zone it is 100% bureaucratic and a rain forest of paper is required to get anything agreed. One should bear in mind the EU definition of a cabbage is 350+ pages long. Bear in mind, It took Canada years to get a trade agreement in place with the EU. Nothing is ever carried out at a pace. Everything in the EU is at two speeds; slow and stop. Do not get caught up in Brussels rhetoric.\r\n\r\nI have read reports from various commentators, news bureaus, media outlets and the EU media centre itself to try to get the following information into basically a bullet point format rather than 500 pages worth of commentary.\r\n\r\nThe keys macro areas of concern by country:\r\n<ul>\r\n 	<li>CITIZENS RIGHTS (EU nationals in the UK and UK nationals in the EU):\r\nAustria, Bulgaria, Czech Republic, Greece, Hungary, Italy, Ireland, Latvia, Lithuania, The Netherlands, Poland, Portugal, Romania, Slovakia, Slovenia and Spain.</li>\r\n</ul>\r\n<ul>\r\n 	<li>EU REVISED BUDGET CONTRIBUTIONS:\r\nAustria, Hungary, Italy, Latvia, Lithuania, The Netherlands, Poland, Portugal, Romania, Slovakia, Slovenia and Sweden.</li>\r\n</ul>\r\n<ul>\r\n 	<li>GOOD CONTINUED TRADE RELATIONS with the UK:\r\nBelgium, Czech Republic, Denmark, Estonia, Italy, The Netherlands and Romania</li>\r\n</ul>\r\n<ul>\r\n 	<li>CONTINUED SHARING OF SECURITY INFORMATION:\r\nBelgium, Croatia, Estonia and Portugal.</li>\r\n</ul>\r\n<ul>\r\n 	<li>EU UNITY FOLLOWING BREXIT:\r\nFinland, France, Germany, Malta and Sweden.</li>\r\n</ul>\r\nSo why have I done this research?\r\n\r\nMy main reason was to see if there was a theme. When negotiations start to keep matters positive and have a common agreement moving forward it is an excellent starting point. Now, I am not saying my 5 topics above were the only ones that I could find. There were more, like Tourism, Gibraltar, Scotland etc. but these represent the best tools for common ground in my opinion.\r\n\r\nWhilst the UK basically voted for BREXIT based on anti-freedom of movement I have no doubt that a reciprocal deal will be struck to put at ease all those currently displaced nationals around the EUROPEAN UNION. From a UK matter this would draw a line under existing non-UK nationals residing in the UK and hopefully put those UK nationals living abroad at ease.\r\n\r\nFrom a discussion perspective CITIZENS RIGHTS would in my opinion be a positive to focus on. In addition, the continued sharing of security and border intelligence would seem to benefit both sides of the negotiating table.\r\n\r\nWith regards to EU UNITY and REVISED BUDGET CONTRIBUTIONS following BREXIT, the UK has no interest in these topics and would not feature at all in the BREXIT negotiations.\r\n\r\nThe big one is of course TRADE.\r\n\r\n7 out of 27 countries as far as I could see, have this as important to their futures. Basically, this represents only 25% of the member countries. If I were a negotiator for the UK I would feel a little let down by this number.\r\n\r\nBeing cynical, my take on this is that there is much more than 25%, but as the EU already knows that the UK wants a great trade deal they do not want to declare their hand.\r\n\r\nSo, the upshot is that Donald Tusk stated last Friday that before the UK can discuss with the EU any trade deals or the like, both parties must negotiate what has become known as “the divorce terms”.\r\n\r\nThere is of course a growing number of commentators who are saying that a negotiated settlement may never actually happen as both sides of the table have dug their heels in on how they want to proceed. In fact, do we have a Mexican standoff before we start?\r\n\r\nIt will be fun and games, there will be leaks, there will be rumours, there will be sound-bytes that are favorable describing an accord and there will be sound-bytes highlighting aspiration.\r\n\r\nAs mentioned several times since last June when the BREXIT referendum vote took place, having just two years to organize the BREXIT deal is tight. There are something in the region of 20,000 sets of rules and regulations to effectively manage throughout the divorce proceedings. When you look at the time line that I included last week (repeated below), the fact A50 was triggered on the 29th March means it will be the end of April before the EU leaders discuss BREXIT and then another month before negotiations begin. That is 2 months out of 24 months with zero activity. This does NOT give confidence at all with the time frame suggested. As mentioned on many occasions in the past, it took Greenland two years to exit and they had nothing like the complexities of the UK relationship.\r\n\r\n<em>As I understand it, the pathway forward is going to be something like this: -</em>\r\n<ul>\r\n 	<li><em>A50 triggered by UK on March 29th, 2017.\r\n\r\n</em></li>\r\n 	<li><em>On April 29th, 2017, the remaining 27 EU members meet to discuss the UK request to withdraw.\r\n\r\n</em></li>\r\n 	<li><em>There is then a period of two years set aside when negotiations begin. A draft of the deal agreed between both parties is put before the 27 leaders (if this is still the number in two years!!).\r\n\r\n</em></li>\r\n 	<li><em>20 of the current 27 member countries totaling at least 65% of the EU population needs to approve the exit deal.\r\n\r\n</em></li>\r\n 	<li><em>It is then ratified by the European Parliament.\r\n\r\n</em></li>\r\n 	<li><em>If at the end of two years of negotiations nothing is finalized they can be extended only if all member countries agree.\r\n\r\n</em></li>\r\n 	<li><em>If no agreement between the two sides is negotiated. </em><em>The UK leaves the EUROPEAN UNION.\r\n\r\n</em></li>\r\n 	<li><em>The UK Parliament repeals the 1972 European Communities Act.\r\n\r\n</em></li>\r\n 	<li><em>Should the UK want back into the EU it must go through the same procedures that any new entrant applies with.</em></li>\r\n</ul>\r\nAs soon as we hear of multi-national banks leaving the city of London and job losses being announced the UK negotiating position will harden as public pressure to achieve a good deal will be expected. At the same time the EU negotiators do not want to give any preferential treatment for fear of a CONTAGION EFFECT.\r\n\r\nTherefore in my opinion whilst the negotiating doors will be firmly closed, facts and figures will be leaked and there will be volatility attached.\r\n\r\nThere are traders who are saying that cable is building a bottom, which frankly I think is quite dangerous.\r\n\r\nThere is so much uncertainty moving forward.\r\n\r\nAfter two years will we see a negotiated arrangement, something that can transition from what is there now to something new. Would this include a trade arrangement? These can take years to set up but if a framework was in place this would be a bonus for the UK.\r\n\r\nMaybe we will have a negotiated extension because two years is not long enough to finalize an agreement.\r\n\r\nFinally, perhaps the talks could breakdown and both sides could walk away from the negotiating table,\r\n\r\nThere are no guarantees of anything with this complex deal.\r\n\r\nThe pressure for both sides not to show weakness of any kind will be uppermost in everybody’s mind. The sides are starting from a position of mistrust and therefore in my opinion it can only get worse and then a stalemate would ensue.\r\n\r\n…. LET THE FUN AND GAMES BEGIN…. (PART TWO) …\r\n\r\n&nbsp;\r\n<ol start=\"6\">\r\n 	<li><strong> CLOSING THOUGHTS:</strong></li>\r\n</ol>\r\nNothing more to add here, I have said enough except,\r\n\r\nAs usual…\r\n\r\nAlways remember longevity in Forex trading can only be achieved through trading with good RISK and MONEY MANAGEMENT, and above all set your position sizes in accordance with the size of your account and allow for some flexibility.\r\n\r\nTake care, have a great trading week.\r\n\r\nScott Pickering\r\nThe Pip Accumulator\r\nTwitter: @pipaccumulator\r\n<a href=\"http://weeklyfxdrivethru.com/disclaimer/\">http://weeklyfxdrivethru.com/disclaimer/\r\n</a>BLOG VERSION: #237 FREE NEWSLETTER\r\nDATE: 2nd April 2017.', 'LET THE GAMES BEGIN (PART TWO):', '', 'inherit', 'closed', 'closed', '', '9353-revision-v1', '', '', '2017-04-01 14:34:25', '2017-04-01 19:34:25', '', 9353, 'https://weeklyfxdrivethru.com/9353-revision-v1/', 0, 'revision', '', 0),
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(9384, 1, '2017-04-08 05:26:08', '2017-04-08 10:26:08', '&nbsp;\r\n<ol>\r\n 	<li><strong>INTRODUCTION:</strong></li>\r\n</ol>\r\nAt the outset of last week, I wrote to subscribers basically saying that new trades would be minimal because of the fact there was such a larger number of high beta economic data releases on the calendar. I saw last week as a week in which to take RISK off the table and bank both pips and $$$.\r\n\r\nI held back on adding numerous trades and in fact I added 4 new LIMIT ORDERS based on some USD weakness, which I thought would be the “play” ahead of and into the release of the NFP data. None of these new limit orders triggered and they are still lying there, but I did throughout the week reduce RISK and remove a few trades. It was a slow week for me regarding activity but the PREMIUM SERVICE banked a positive +358 pips in the first week of April 2017. Therefore, I am of course very happy\r\n\r\nThe week was plagued by geopolitical news, the dreadful nerve gas attack in Syria, the missile launch by “THE DONALD”, the knock-on effect of this action on the North Korean situation and the on-going relationship between the US and Russia.\r\n\r\nMoving on…\r\n\r\nThe US job numbers always dominate the news for the week in which they are released. ADP were great numbers; the prior month’s data was re-calculated by about 50,000 jobs but the numbers came in strong. The government NFP data missed by about 80,000 jobs but the unemployment rate lowered to 4.5%.\r\n\r\nA big miss, the USD sold off and then strengthened. The trades that I covered ahead of NFP and banked pips and $$$ on, all USD long trades, would have generated 100% more pips 10 minutes after poor job numbers… go figure. As the day progressed, the USD strengthened moving about 60 points on the day. 60 DXY points is a big move.\r\n\r\nI am coming around more and more each month to the viewpoint of the majority of my “peer group” of traders, which is, ignore NFP day, do not add trades and let the day play out. There is a lot to be said for this approach. The chop fest of NFP can be very painful.\r\n\r\nThe FOMC minutes were hawkish and the USD sold off… go figure? We have a situation I think where the markets DO NOT believe the FED rhetoric.\r\n\r\nOther news last week…\r\n\r\nThe UK missed on Manufacturing and Construction PMI but beat the Services PMi. At the end of the week, cable is still weaker. All these traders trying to pick bottoms, only have smelly fingers. I still maintain that with the uncertainty ahead with BREXIT it is foolish to say downside moves have been baked into the GBP/USD price structure.\r\n\r\nSmell the coffee… BREXIT will take years to negotiate and the negotiations have NOT yet started. For God’s sake, this desire to say I picked the bottom is childish. There will be many twists and turns ahead with the odd spike and sell-off. GBP/USD is moving lower.\r\n\r\nDraghi spelled it out in no uncertain terms for the markets eager once again to believe the bottom is in for the EUR/USD.\r\n\r\nThe market makers have the attention span of a one year old child, long may this continue, this inability to remember what they were told gives us buying the dips and selling the rips opportunities.\r\n\r\nThe RBA has not confirmed the target level of 0.6500 for fair value AUD/USD, I think it was the level muted by the NAB, but the bottom line is that the AUD is moving lower whether it be on AUD data or Chinese data.\r\n\r\nWe have some great opportunities lining up, my only caveat is that the heightened geopolitical event risk many skew things a little. Nevertheless, there is light at the end of the tunnel.\r\n\r\nMoving on…\r\n\r\nTHE WEEKLY FX DRIVE THRU – LIVE webinars.\r\n\r\n#9 this Monday 10th April at 5:30PM.\r\n<ul>\r\n 	<li>To attend live - you need Google Chrome as a browser.</li>\r\n 	<li>You cannot view on smart phones or tablets, only Laptops and Desktops.</li>\r\n</ul>\r\nThe “LIVE WEBINAR” link is below: -\r\n\r\n<a href=\"http://bit.ly/drivethru-live\">http://bit.ly/drivethru-live</a>\r\n\r\nIf you cannot listen live you can check out my You Tube channel,\r\n<strong><em>Scott Pickering</em></strong> <strong><em>Weekly FX Drive Thru</em></strong> for a freshly posted copy of the webinar, usually, within a couple of hours of its completion.\r\n\r\nHere is the link for my you tube channel, when I get to 100 subscribers (if I get there) I can have my own personalized shortened link. If you like the style of my webinar, please subscribe. The benefits are that as soon as a new webinar is posted you are emailed.: -\r\n\r\n<a href=\"https://www.youtube.com/channel/UCV-9VDnNkHjTPBzKqLqCGJw/videos\">https://www.youtube.com/channel/UCV-9VDnNkHjTPBzKqLqCGJw/videos</a>\r\n\r\nAlmost there…\r\n\r\nCongratulations to <a href=\"mailto:mike*******@***.com\">mike*******@***.com</a>\r\n\r\nMike is this month’s winner of a FREE PREMIUM SERVICE subscription. I should have done the draw last week… my bad. By the time this blog is posted mike should be all set up.\r\n\r\nIf you would like to be in the monthly draw to win a “FREE 10-WEEK SUBSCRIPTION” to the PREMIUM SERVICE, valued at CAD$1,000.00, all you have to do is subscribe to receive this FREE NEWSLETTER on my website <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a>  On my welcome page just below my cube logo is where you complete your subscription.\r\n\r\n<strong> </strong>\r\n<ol start=\"2\">\r\n 	<li><strong> THE FX MARKET PLACE – LOOKING FORWARD:</strong></li>\r\n</ol>\r\n<u>ECONOMIC DATA RELEASES:</u>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/ECON-DATA-09042017.png\"><img class=\"aligncenter size-large wp-image-9363\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/ECON-DATA-09042017-1024x826.png\" alt=\"\" width=\"1024\" height=\"826\" /></a>\r\n\r\n&nbsp;\r\n\r\n<u>MY THOUGHTS ON THE WEEK AHEAD:</u>\r\n\r\nA busy week coming up but I think that geopolitical news will dominate proceedings: -\r\n<ol>\r\n 	<li>CAD: The BOC meets on Wednesday and holds a press conference after the 10:00AM rate announcement at 11:15AM EST.\r\n\r\nI am not expecting anything new from this rate decision. Yes, there are housing bubbles in Vancouver and Toronto, but I think that rate cuts now will fuel these bubbles and that is the last thing that Stephen Poloz, BOC Governor would want.\r\n\r\nThe commentary however, should be interesting.</li>\r\n 	<li>USD: We have Consumer Sentiment data on Thursday, and that is the pick of the US data releases for me.</li>\r\n</ol>\r\nObviously, the BREXIT news will be on the wires at ad-hoc times. I am however, expecting this to calm down as the 27 members of the EU do not meet to formally discuss BREXIT until the end of April and negotiations do not start until the end of May. Nevertheless, we still should be on our toes.\r\n\r\n<u>USD MAJORS – “IMMEDIATE” SUPPORT &amp; RESISTANCE:</u>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/TCHART-09042017.png\"><img class=\"aligncenter size-large wp-image-9364\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/TCHART-09042017-1024x857.png\" alt=\"\" width=\"1024\" height=\"857\" /></a>\r\n\r\n&nbsp;\r\n\r\nThe charts below contain commentary (my thoughts and views), these are the USD major charts that are reflected in the spreadsheet above.\r\n<strong>EUR/USD:</strong>\r\n\r\n<strong> <a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/EURUSD-D-09042017.png\"><img class=\"aligncenter size-large wp-image-9378\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/EURUSD-D-09042017-1024x454.png\" alt=\"\" width=\"1024\" height=\"454\" /></a></strong>\r\n\r\n<strong> </strong>\r\n\r\n<strong>GBP/USD:</strong>\r\n\r\n<strong> <a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/GBPUSD-D-09042017.png\"><img class=\"aligncenter size-large wp-image-9379\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/GBPUSD-D-09042017-1024x454.png\" alt=\"\" width=\"1024\" height=\"454\" /></a></strong>\r\n\r\n<strong> </strong>\r\n\r\n<strong>AUD/USD:</strong>\r\n\r\n<strong> <a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/AUDUSD-D-09042017.png\"><img class=\"aligncenter size-large wp-image-9377\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/AUDUSD-D-09042017-1024x454.png\" alt=\"\" width=\"1024\" height=\"454\" /></a></strong>\r\n\r\n<strong> </strong>\r\n\r\n<strong>NZD/USD:</strong>\r\n\r\n<strong> <a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/NZDUSD-D-09042017.png\"><img class=\"aligncenter size-large wp-image-9380\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/NZDUSD-D-09042017-1024x454.png\" alt=\"\" width=\"1024\" height=\"454\" /></a></strong>\r\n\r\n<strong> </strong>\r\n\r\n<strong>USD/CAD:</strong>\r\n\r\n<strong> <a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/USDCAD-D-09042017.png\"><img class=\"aligncenter size-large wp-image-9383\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/USDCAD-D-09042017-1024x454.png\" alt=\"\" width=\"1024\" height=\"454\" /></a></strong>\r\n\r\n<strong> </strong>\r\n\r\n<strong>USD/CHF:</strong>\r\n\r\n<strong> <a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/USDCHF-D-09042017.png\"><img class=\"aligncenter size-large wp-image-9381\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/USDCHF-D-09042017-1024x454.png\" alt=\"\" width=\"1024\" height=\"454\" /></a></strong>\r\n\r\n<strong> </strong>\r\n\r\n<strong>USD/JPY:</strong>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/USDJPY-D-09042017.png\"><img class=\"aligncenter size-large wp-image-9382\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/USDJPY-D-09042017-1024x454.png\" alt=\"\" width=\"1024\" height=\"454\" /></a>\r\n\r\n&nbsp;\r\n\r\n<strong>\r\n\r\n</strong>\r\n\r\n&nbsp;\r\n<ol start=\"3\">\r\n 	<li><strong> THE PREMIUM SERVICE:</strong></li>\r\n</ol>\r\n<u>WHAT IS THE PREMIUM SERVICE?</u>\r\n\r\nThe PREMIUM SERVICE is a subscriber based Forex support service offering not just trade set-ups, but a bunch of different support services that differentiates the PREMIUM SERVICE from other providers, my competitors, that operate in the same space.\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 PREMIUM SERVICE tab.\r\n\r\nFurther information can be found by clicking TESTIMONIALS, PART-TIME TRADERS and FX PROMOTIONS tabs. To subscribe to THE PREMIUM SERVICE, you will require a valid credit card.\r\n\r\n<u>PREMIUM SERVICE PERFORMANCE YEAR TO DATE:</u>\r\n\r\nMONTH TO DATE: +358 pips\r\nYEAR TO DATE:      +1,851 pips\r\n\r\nI am still a little way behind my target. But trading is gathering momentum once again and I am still very confident of achieving my year-end target of 10,000 net profitable pips.\r\n\r\n&nbsp;\r\n\r\n<u>PREMIUM SERVICE –  SUBSCRIBER PROMOTION:</u>\r\n\r\n<strong><u>“DOUBLE IT UP”</u></strong>\r\n\r\nI usually run a PREMIUM SERVICE subscriber promotion at the end of the old year /start of a new year.\r\n\r\nBecause I knew that this year I would be moving home and traveling in Q2, I deliberately decided to wait, to launch a promotion around that time.\r\n\r\nThis is the biggest and I believe the best subscriber promotion that I have ever offered.\r\n\r\nWhat is <strong>“DOUBLE IT UP”</strong> all about…\r\n\r\nBasically, from now until June 30<sup>th,</sup> 2017 anyone who subscribes to the PREMIUM SERVICE through my “SUBSCRIBE HERE” tab at the top of my welcome page will have their subscription period doubled at no extra cost.\r\n\r\nIn addition, all subscriptions regardless of the date of subscribing will not start until June 30th 2017.\r\n\r\nThis means that from the day of joining the PREMIUM SERVICE you will have 100% access. This could give you up to an additional 12 weeks of membership to the PREMIUM SERVICE depending upon the date you subscribe.\r\n\r\nThis 12-week period covers the period that I am moving home and traveling, and therefore there may be days at a time with zero activity, and there will be some because I will be out of coverage and simply on vacation, but it’s all “FREE” in any case, so whatever happens, it is all a bonus anyhow as your subscription period will officially commence June 30th 2017.\r\n\r\nConfirmation of the <strong>“DOUBLE IT UP” </strong>will be contained in the “welcome on board documents” the accompanies your subscription confirmation.\r\n\r\nThis is the best and most generous promotion that I have ever offered since starting the PREMIUM SERVICE and I hope that many of you take advantage.\r\n\r\n<strong><u>IMPORTANT TO NOTE:</u></strong> Joining the PREMIUM SERVICE <strong><u>now</u></strong> on a 10-week subscription gives you a 20-week subscription period with THE DOUBLE IT UP promotion. This basically covers 2017 in total when you allow for the summer break and the delayed promotional start of your subscription period. At CAD$1,000 this is a great opportunity and fantastic value.\r\n\r\nI add below my “DRIVE THRU blog / TRADING date charts for 2017, 2018 and 2019.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/03/BLOG-DATES-2017-2019.png\"><img class=\"aligncenter size-large wp-image-9300\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/03/BLOG-DATES-2017-2019-1024x621.png\" alt=\"\" width=\"1024\" height=\"621\" /></a>\r\n\r\nPLUS:\r\n\r\nIf you would like to know a little more about THE PREMIUM SERVICE please feel free to watch the following 40-minute video via the link below:\r\n\r\n<a href=\"http://bit.ly/PremServiceQ217\">http://bit.ly/PremServiceQ217</a>\r\n\r\nPLEASE NOTE: the above video is best viewed using a Google Chrome browser.\r\n\r\n<strong>\r\n</strong>\r\n<ol start=\"4\">\r\n 	<li><strong> PREMIUM SERVICE – SUBSCRIBER CONTENT AREA:</strong></li>\r\n</ol>\r\n<u>TRADING REVIEW:</u>\r\n\r\nI said at the outset of last week that I was looking to remove RISK, bank $$$ and add pips to the annual total. As far as I am concerned I traded my plan.\r\n\r\nComing up now, I have a few questions: -\r\n<ol>\r\n 	<li>The geopolitical news and the associated event risk does worry me a little. However, as I am a USD bull, the currency flight to safety trade should still be the USD. Of course, in periods of great uncertainty refuge is also sought with the JPY and CHF as well as GOLD.\r\n\r\nOnly the CHF trades will give me cause for concern as in periods of great uncertainty the flight to safety trade usually disconnects the inverse relationship between the USD/CHF and EUR/USD.</li>\r\n 	<li>I want as you know to be short EUR/JPY and coupled with EUROZONE headwinds this is a double whammy for this pair. Look out for trade set ups.</li>\r\n 	<li>China, North Korea, Russia, BREXIT and EUROZONE, this is some list of geopolitical possibilities to digest.</li>\r\n</ol>\r\nYou can guarantee that I will NOT RISK my money and therefore your money with any foolhardy trade set ups taking a 30-minute view on matters. I will look for value entries as usual. Should I have a 30-minute view, it will be identifiable as a FLASH or RADAR TRADE.\r\n\r\n<u>CORE TRADES:</u>\r\n<ol>\r\n 	<li>EUR/USD and USD/CHF: - I have reduced RISK. I am looking to add back at previous resistance levels this week.</li>\r\n 	<li>GBP/USD: - Nothing has really changed in my opinion, whilst I have removed a little RISK I am still looking for value to add again.\r\n\r\nThere will be some great GBP long trades in the next 12 months. There will be greater opportunities long GBP than maybe those that remain on the short side.\r\n\r\nA50 now triggered and the timeline for the BREXIT is now in play.\r\n\r\nAs I have stated on several occasions, very few people mention capital outflows out of the UK, these could be huge and are critical. This will start to bite sooner rather than later as the financial institutions start to make plans on their new structures inside a freshly shaped EUROPEAN UNION.</li>\r\n 	<li>EUR/GBP: - Nothing has changed for me with this pair.\r\n\r\nI am still somewhat nervous being short, but believe the EUROZONE risks outweigh those of the UK moving forward. My thoughts are that both the EUR &amp; GBP will start to react together moving forward with BREXIT issues and the EUR/GBP will be caught in the crossfire.</li>\r\n</ol>\r\n<u>PREMIUM SERVICE - TRADES REVIEW<strong>:</strong></u>\r\n\r\nCURRENT PREMIUM SERVICE - LIVE TRADES:\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/LIVE-TRADES-09042017.png\"><img class=\"aligncenter size-large wp-image-9366\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/LIVE-TRADES-09042017-891x1024.png\" alt=\"\" width=\"891\" height=\"1024\" /></a>\r\n\r\nCURRENT PREMIUM SERVICE – LIMIT ORDER TRADES:\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/LIMIT-ORDERS-09042017.png\"><img class=\"aligncenter size-large wp-image-9365\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/LIMIT-ORDERS-09042017-740x1024.png\" alt=\"\" width=\"740\" height=\"1024\" /></a>\r\n\r\n<strong> </strong>\r\n\r\n<strong> </strong>\r\n<ol start=\"5\">\r\n 	<li><strong> THE SOAPBOX:</strong></li>\r\n</ol>\r\n<strong>MY PROCESS (OF TRADING)</strong>\r\n\r\nWhere to start.\r\n\r\nSeveral weeks ago, I mentioned in the blog that I had received a few questions about my process in trade selection. I stated that I would come back to this sometime in the future. That future time is now.\r\n\r\nThere is no better time in my opinion than when geopolitical events risks are high to review your trade selection process.\r\n\r\nMy PROCESS: This is NOT analysis paralysis. This is RISK MANAGEMENT in action.\r\n\r\nIf you attend or watch on You Tube the WEEKLY FX DRIVE THRU – LIVE webinar, you will know that I have a core selection of LEAD INDICATORS that I will always look at first. However, as I have stated on so many occasions, in the FX market CORRELATIONS DO MATTER and I believe these should be looked at for verification and trade confidence.\r\n\r\nOne further parameter I look at that is not on these charts is a currency pairs overall trend / direction. Are the Daily, Weekly and Monthly charts all moving in the same direction? It is often said that “the trend is your friend”. I look at trend as well.\r\n\r\nThis week, I am not writing much; all my comments will be on the charts. I know that this can sometimes be painful opening chart after chart, but this is the clearest way to give my thoughts.\r\n\r\nI am always writing be calm, be patient, take smaller positions and place wider stops but at the same time position size accordingly to manage risk. Never are these words as important as they are right now in my opinion.\r\n\r\nAs you know correlations in all markets matter a great deal to me. They give assurance and confidence placing trades.\r\n\r\nI really hope that you find this chart by chart approach a good insight into my thoughts on how I approach the market and a demonstration of the care that goes into my thought process prior to posting a trade set up for my PREMIUM SERVICE subscribers.\r\n\r\nBelow, I list out what I call my LEAD INDICATOR charts. They include commodities, indexes, currencies and bonds. These combined and their inter-market relationships, give me confidence when placing trades. If they correlate correctly I have additional confidence placing a trade set up or live trade. In addition, do not forget when looking at an individual currency pair to trade I also check directional trends as well.\r\n\r\nBear in mind the PROCESS also helps you manage RISK. RISK MANAGEMENT leads to better trading consistency and enhances your bottom line.\r\n\r\nBelow, I am looking at the current position chart by chart to give me my overview of the market. From this I have my macro fundamentals based on <strong><u>now</u></strong> versus my <strong><u>longer-term fundamentals.</u></strong>\r\n\r\nThis therefore gives me my background to the trading charts when looking for high probability set ups and Technicals to match these fundamentals. I just call it MY PROCESS.\r\n\r\nUSD INDEX (DXY):\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/DXY-09042017.png\"><img class=\"aligncenter size-large wp-image-9371\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/DXY-09042017-1024x508.png\" alt=\"\" width=\"1024\" height=\"508\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\nXAU/USD (GOLD):\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/GOLD-09042017.png\"><img class=\"aligncenter size-large wp-image-9372\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/GOLD-09042017-1024x510.png\" alt=\"\" width=\"1024\" height=\"510\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\nUSOIL (WTi):\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/WTi-09042017.png\"><img class=\"aligncenter size-large wp-image-9376\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/WTi-09042017-1024x521.png\" alt=\"\" width=\"1024\" height=\"521\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\nXCU/USD (COPPER):\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/COPPER-09042017.png\"><img class=\"aligncenter size-large wp-image-9370\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/COPPER-09042017-1024x546.png\" alt=\"\" width=\"1024\" height=\"546\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\nSPX (S&amp;P 500):\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/SPX500-09042017.png\"><img class=\"aligncenter size-large wp-image-9373\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/SPX500-09042017-1024x511.png\" alt=\"\" width=\"1024\" height=\"511\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\nUS10Y (US 10 YEAR NOTE):\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/10TNOTES-09042017.png\"><img class=\"aligncenter size-large wp-image-9367\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/10TNOTES-09042017-1024x549.png\" alt=\"\" width=\"1024\" height=\"549\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\nUSD/SEK:\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/USDSEK-09042017.png\"><img class=\"aligncenter size-large wp-image-9375\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/USDSEK-09042017-1024x564.png\" alt=\"\" width=\"1024\" height=\"564\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\nUSD/CAD:\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/USDCAD-09042017.png\"><img class=\"aligncenter size-large wp-image-9374\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/USDCAD-09042017-1024x541.png\" alt=\"\" width=\"1024\" height=\"541\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\nAUD/USD:\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/AUDUSD-09042017.png\"><img class=\"aligncenter size-large wp-image-9369\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/AUDUSD-09042017-1024x540.png\" alt=\"\" width=\"1024\" height=\"540\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\nAUD/JPY:\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/AUDJPY-09042017.png\"><img class=\"aligncenter size-large wp-image-9368\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/AUDJPY-09042017-1024x545.png\" alt=\"\" width=\"1024\" height=\"545\" /></a>\r\n\r\n&nbsp;\r\n\r\nMy PROCESS in a nutshell is research. It’s your money. Your broker only wants you to keep feeding your account with funds to replace poor trading.\r\n\r\nPROCESS… DISCIPLINE… TRADE PLAN… RISK MANAGEMENT… POSITION SIZING…\r\n\r\nAll of the above blur together for me. The PROCESS helped me stopping feeding my broker accounts. It was too easy not to think properly and just be reactive with trading. It was tantamount to gambling. It is lazy not to manage your trades based upon your RISK and its lazy not to get the best possible entry price.\r\n\r\nMy PROCESS eliminates RISK. It gives me red, amber and green lights.\r\n\r\nThere is a great deal of information and data to digest from the above charts. I know that some of you will think that this is analysis paralysis. Let me write it again this is RISK MANAGEMENT.\r\n\r\nThis is MY PROCESS. This process has generated over 40,000 pips in the past four years in net profits and it works for me.\r\n<ul>\r\n 	<li>Yes, I openly admit it is time consuming and cautious.</li>\r\n 	<li>Yes, I let many trades (100’s a year) pass by that I could have traded.</li>\r\n 	<li>Yes, it is a “steady Eddie” approach.</li>\r\n 	<li>Yes, it requires discipline.</li>\r\n 	<li>Yes, it requires a TRADE PLAN.</li>\r\n 	<li>Yes, this helps you with MANAGING RISK and POSITION SIZING.</li>\r\n 	<li>Yes, you can argue that process is slow.</li>\r\n 	<li>But it works.</li>\r\n</ul>\r\nIn my opinion to trade you must have a PLAN, a PROCESS to achieve trading longevity. This PROCESS works for me and although I can still get caught out at times, my PROCESS has saved me more times than I would like to mention.\r\n\r\nI am a serious longer-term trader that wants to be about in 10 years’ time and maybe even beyond that horizon. Without a PLAN / PROCESS I cannot see how you would achieve trading longevity.\r\n\r\n&nbsp;\r\n<ol start=\"6\">\r\n 	<li><strong> CLOSING THOUGHTS:</strong></li>\r\n</ol>\r\nNothing more to add here, I have said enough except,\r\n\r\nAs usual…\r\n\r\nAlways remember longevity in Forex trading can only be achieved through trading with good RISK and MONEY MANAGEMENT, and above all set your position sizes in accordance with the size of your account and allow for some flexibility.\r\n\r\nTake care, have a great trading week.\r\n\r\nScott Pickering\r\nThe Pip Accumulator\r\nTwitter: @pipaccumulator\r\n<a href=\"http://weeklyfxdrivethru.com/disclaimer/\">http://weeklyfxdrivethru.com/disclaimer/\r\n</a>BLOG VERSION: #134 PREMIUM SERVICE\r\nDATE: 9th April 2017', 'MY PROCESS (OF TRADING)', '', 'publish', 'open', 'closed', '', 'my-process-of-trading', '', '', '2017-04-08 05:26:08', '2017-04-08 10:26:08', '', 0, 'https://weeklyfxdrivethru.com/?post_type=member_posts&#038;p=9384', 0, 'member_posts', '', 0);
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(9385, 1, '2017-04-08 05:26:08', '2017-04-08 10:26:08', '&nbsp;\r\n<ol>\r\n 	<li><strong>INTRODUCTION:</strong></li>\r\n</ol>\r\nAt the outset of last week, I wrote to subscribers basically saying that new trades would be minimal because of the fact there was such a larger number of high beta economic data releases on the calendar. I saw last week as a week in which to take RISK off the table and bank both pips and $$$.\r\n\r\nI held back on adding numerous trades and in fact I added 4 new LIMIT ORDERS based on some USD weakness, which I thought would be the “play” ahead of and into the release of the NFP data. None of these new limit orders triggered and they are still lying there, but I did throughout the week reduce RISK and remove a few trades. It was a slow week for me regarding activity but the PREMIUM SERVICE banked a positive +358 pips in the first week of April 2017. Therefore, I am of course very happy\r\n\r\nThe week was plagued by geopolitical news, the dreadful nerve gas attack in Syria, the missile launch by “THE DONALD”, the knock-on effect of this action on the North Korean situation and the on-going relationship between the US and Russia.\r\n\r\nMoving on…\r\n\r\nThe US job numbers always dominate the news for the week in which they are released. ADP were great numbers; the prior month’s data was re-calculated by about 50,000 jobs but the numbers came in strong. The government NFP data missed by about 80,000 jobs but the unemployment rate lowered to 4.5%.\r\n\r\nA big miss, the USD sold off and then strengthened. The trades that I covered ahead of NFP and banked pips and $$$ on, all USD long trades, would have generated 100% more pips 10 minutes after poor job numbers… go figure. As the day progressed, the USD strengthened moving about 60 points on the day. 60 DXY points is a big move.\r\n\r\nI am coming around more and more each month to the viewpoint of the majority of my “peer group” of traders, which is, ignore NFP day, do not add trades and let the day play out. There is a lot to be said for this approach. The chop fest of NFP can be very painful.\r\n\r\nThe FOMC minutes were hawkish and the USD sold off… go figure? We have a situation I think where the markets DO NOT believe the FED rhetoric.\r\n\r\nOther news last week…\r\n\r\nThe UK missed on Manufacturing and Construction PMI but beat the Services PMi. At the end of the week, cable is still weaker. All these traders trying to pick bottoms, only have smelly fingers. I still maintain that with the uncertainty ahead with BREXIT it is foolish to say downside moves have been baked into the GBP/USD price structure.\r\n\r\nSmell the coffee… BREXIT will take years to negotiate and the negotiations have NOT yet started. For God’s sake, this desire to say I picked the bottom is childish. There will be many twists and turns ahead with the odd spike and sell-off. GBP/USD is moving lower.\r\n\r\nDraghi spelled it out in no uncertain terms for the markets eager once again to believe the bottom is in for the EUR/USD.\r\n\r\nThe market makers have the attention span of a one year old child, long may this continue, this inability to remember what they were told gives us buying the dips and selling the rips opportunities.\r\n\r\nThe RBA has not confirmed the target level of 0.6500 for fair value AUD/USD, I think it was the level muted by the NAB, but the bottom line is that the AUD is moving lower whether it be on AUD data or Chinese data.\r\n\r\nWe have some great opportunities lining up, my only caveat is that the heightened geopolitical event risk many skew things a little. Nevertheless, there is light at the end of the tunnel.\r\n\r\nMoving on…\r\n\r\nTHE WEEKLY FX DRIVE THRU – LIVE webinars.\r\n\r\n#9 this Monday 10th April at 5:30PM.\r\n<ul>\r\n 	<li>To attend live - you need Google Chrome as a browser.</li>\r\n 	<li>You cannot view on smart phones or tablets, only Laptops and Desktops.</li>\r\n</ul>\r\nThe “LIVE WEBINAR” link is below: -\r\n\r\n<a href=\"http://bit.ly/drivethru-live\">http://bit.ly/drivethru-live</a>\r\n\r\nIf you cannot listen live you can check out my You Tube channel,\r\n<strong><em>Scott Pickering</em></strong> <strong><em>Weekly FX Drive Thru</em></strong> for a freshly posted copy of the webinar, usually, within a couple of hours of its completion.\r\n\r\nHere is the link for my you tube channel, when I get to 100 subscribers (if I get there) I can have my own personalized shortened link. If you like the style of my webinar, please subscribe. The benefits are that as soon as a new webinar is posted you are emailed.: -\r\n\r\n<a href=\"https://www.youtube.com/channel/UCV-9VDnNkHjTPBzKqLqCGJw/videos\">https://www.youtube.com/channel/UCV-9VDnNkHjTPBzKqLqCGJw/videos</a>\r\n\r\nAlmost there…\r\n\r\nCongratulations to <a href=\"mailto:mike*******@***.com\">mike*******@***.com</a>\r\n\r\nMike is this month’s winner of a FREE PREMIUM SERVICE subscription. I should have done the draw last week… my bad. By the time this blog is posted mike should be all set up.\r\n\r\nIf you would like to be in the monthly draw to win a “FREE 10-WEEK SUBSCRIPTION” to the PREMIUM SERVICE, valued at CAD$1,000.00, all you have to do is subscribe to receive this FREE NEWSLETTER on my website <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a>  On my welcome page just below my cube logo is where you complete your subscription.\r\n\r\n<strong> </strong>\r\n<ol start=\"2\">\r\n 	<li><strong> THE FX MARKET PLACE – LOOKING FORWARD:</strong></li>\r\n</ol>\r\n<u>ECONOMIC DATA RELEASES:</u>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/ECON-DATA-09042017.png\"><img class=\"aligncenter size-large wp-image-9363\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/ECON-DATA-09042017-1024x826.png\" alt=\"\" width=\"1024\" height=\"826\" /></a>\r\n\r\n&nbsp;\r\n\r\n<u>MY THOUGHTS ON THE WEEK AHEAD:</u>\r\n\r\nA busy week coming up but I think that geopolitical news will dominate proceedings: -\r\n<ol>\r\n 	<li>CAD: The BOC meets on Wednesday and holds a press conference after the 10:00AM rate announcement at 11:15AM EST.\r\n\r\nI am not expecting anything new from this rate decision. Yes, there are housing bubbles in Vancouver and Toronto, but I think that rate cuts now will fuel these bubbles and that is the last thing that Stephen Poloz, BOC Governor would want.\r\n\r\nThe commentary however, should be interesting.</li>\r\n 	<li>USD: We have Consumer Sentiment data on Thursday, and that is the pick of the US data releases for me.</li>\r\n</ol>\r\nObviously, the BREXIT news will be on the wires at ad-hoc times. I am however, expecting this to calm down as the 27 members of the EU do not meet to formally discuss BREXIT until the end of April and negotiations do not start until the end of May. Nevertheless, we still should be on our toes.\r\n\r\n<u>USD MAJORS – “IMMEDIATE” SUPPORT &amp; RESISTANCE:</u>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/TCHART-09042017.png\"><img class=\"aligncenter size-large wp-image-9364\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/TCHART-09042017-1024x857.png\" alt=\"\" width=\"1024\" height=\"857\" /></a>\r\n\r\n&nbsp;\r\n\r\nThe charts below contain commentary (my thoughts and views), these are the USD major charts that are reflected in the spreadsheet above.\r\n<strong>EUR/USD:</strong>\r\n\r\n<strong> <a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/EURUSD-D-09042017.png\"><img class=\"aligncenter size-large wp-image-9378\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/EURUSD-D-09042017-1024x454.png\" alt=\"\" width=\"1024\" height=\"454\" /></a></strong>\r\n\r\n<strong> </strong>\r\n\r\n<strong>GBP/USD:</strong>\r\n\r\n<strong> <a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/GBPUSD-D-09042017.png\"><img class=\"aligncenter size-large wp-image-9379\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/GBPUSD-D-09042017-1024x454.png\" alt=\"\" width=\"1024\" height=\"454\" /></a></strong>\r\n\r\n<strong> </strong>\r\n\r\n<strong>AUD/USD:</strong>\r\n\r\n<strong> <a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/AUDUSD-D-09042017.png\"><img class=\"aligncenter size-large wp-image-9377\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/AUDUSD-D-09042017-1024x454.png\" alt=\"\" width=\"1024\" height=\"454\" /></a></strong>\r\n\r\n<strong> </strong>\r\n\r\n<strong>NZD/USD:</strong>\r\n\r\n<strong> <a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/NZDUSD-D-09042017.png\"><img class=\"aligncenter size-large wp-image-9380\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/NZDUSD-D-09042017-1024x454.png\" alt=\"\" width=\"1024\" height=\"454\" /></a></strong>\r\n\r\n<strong> </strong>\r\n\r\n<strong>USD/CAD:</strong>\r\n\r\n<strong> <a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/USDCAD-D-09042017.png\"><img class=\"aligncenter size-large wp-image-9383\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/USDCAD-D-09042017-1024x454.png\" alt=\"\" width=\"1024\" height=\"454\" /></a></strong>\r\n\r\n<strong> </strong>\r\n\r\n<strong>USD/CHF:</strong>\r\n\r\n<strong> <a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/USDCHF-D-09042017.png\"><img class=\"aligncenter size-large wp-image-9381\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/USDCHF-D-09042017-1024x454.png\" alt=\"\" width=\"1024\" height=\"454\" /></a></strong>\r\n\r\n<strong> </strong>\r\n\r\n<strong>USD/JPY:</strong>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/USDJPY-D-09042017.png\"><img class=\"aligncenter size-large wp-image-9382\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/USDJPY-D-09042017-1024x454.png\" alt=\"\" width=\"1024\" height=\"454\" /></a>\r\n\r\n&nbsp;\r\n\r\n<strong>\r\n\r\n</strong>\r\n\r\n&nbsp;\r\n<ol start=\"3\">\r\n 	<li><strong> THE PREMIUM SERVICE:</strong></li>\r\n</ol>\r\n<u>WHAT IS THE PREMIUM SERVICE?</u>\r\n\r\nThe PREMIUM SERVICE is a subscriber based Forex support service offering not just trade set-ups, but a bunch of different support services that differentiates the PREMIUM SERVICE from other providers, my competitors, that operate in the same space.\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 PREMIUM SERVICE tab.\r\n\r\nFurther information can be found by clicking TESTIMONIALS, PART-TIME TRADERS and FX PROMOTIONS tabs. To subscribe to THE PREMIUM SERVICE, you will require a valid credit card.\r\n\r\n<u>PREMIUM SERVICE PERFORMANCE YEAR TO DATE:</u>\r\n\r\nMONTH TO DATE: +358 pips\r\nYEAR TO DATE:      +1,851 pips\r\n\r\nI am still a little way behind my target. But trading is gathering momentum once again and I am still very confident of achieving my year-end target of 10,000 net profitable pips.\r\n\r\n&nbsp;\r\n\r\n<u>PREMIUM SERVICE –  SUBSCRIBER PROMOTION:</u>\r\n\r\n<strong><u>“DOUBLE IT UP”</u></strong>\r\n\r\nI usually run a PREMIUM SERVICE subscriber promotion at the end of the old year /start of a new year.\r\n\r\nBecause I knew that this year I would be moving home and traveling in Q2, I deliberately decided to wait, to launch a promotion around that time.\r\n\r\nThis is the biggest and I believe the best subscriber promotion that I have ever offered.\r\n\r\nWhat is <strong>“DOUBLE IT UP”</strong> all about…\r\n\r\nBasically, from now until June 30<sup>th,</sup> 2017 anyone who subscribes to the PREMIUM SERVICE through my “SUBSCRIBE HERE” tab at the top of my welcome page will have their subscription period doubled at no extra cost.\r\n\r\nIn addition, all subscriptions regardless of the date of subscribing will not start until June 30th 2017.\r\n\r\nThis means that from the day of joining the PREMIUM SERVICE you will have 100% access. This could give you up to an additional 12 weeks of membership to the PREMIUM SERVICE depending upon the date you subscribe.\r\n\r\nThis 12-week period covers the period that I am moving home and traveling, and therefore there may be days at a time with zero activity, and there will be some because I will be out of coverage and simply on vacation, but it’s all “FREE” in any case, so whatever happens, it is all a bonus anyhow as your subscription period will officially commence June 30th 2017.\r\n\r\nConfirmation of the <strong>“DOUBLE IT UP” </strong>will be contained in the “welcome on board documents” the accompanies your subscription confirmation.\r\n\r\nThis is the best and most generous promotion that I have ever offered since starting the PREMIUM SERVICE and I hope that many of you take advantage.\r\n\r\n<strong><u>IMPORTANT TO NOTE:</u></strong> Joining the PREMIUM SERVICE <strong><u>now</u></strong> on a 10-week subscription gives you a 20-week subscription period with THE DOUBLE IT UP promotion. This basically covers 2017 in total when you allow for the summer break and the delayed promotional start of your subscription period. At CAD$1,000 this is a great opportunity and fantastic value.\r\n\r\nI add below my “DRIVE THRU blog / TRADING date charts for 2017, 2018 and 2019.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/03/BLOG-DATES-2017-2019.png\"><img class=\"aligncenter size-large wp-image-9300\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/03/BLOG-DATES-2017-2019-1024x621.png\" alt=\"\" width=\"1024\" height=\"621\" /></a>\r\n\r\nPLUS:\r\n\r\nIf you would like to know a little more about THE PREMIUM SERVICE please feel free to watch the following 40-minute video via the link below:\r\n\r\n<a href=\"http://bit.ly/PremServiceQ217\">http://bit.ly/PremServiceQ217</a>\r\n\r\nPLEASE NOTE: the above video is best viewed using a Google Chrome browser.\r\n\r\n<strong>\r\n</strong>\r\n<ol start=\"4\">\r\n 	<li><strong> PREMIUM SERVICE – SUBSCRIBER CONTENT AREA:</strong></li>\r\n</ol>\r\n<u>TRADING REVIEW:</u>\r\n\r\nI said at the outset of last week that I was looking to remove RISK, bank $$$ and add pips to the annual total. As far as I am concerned I traded my plan.\r\n\r\nComing up now, I have a few questions: -\r\n<ol>\r\n 	<li>The geopolitical news and the associated event risk does worry me a little. However, as I am a USD bull, the currency flight to safety trade should still be the USD. Of course, in periods of great uncertainty refuge is also sought with the JPY and CHF as well as GOLD.\r\n\r\nOnly the CHF trades will give me cause for concern as in periods of great uncertainty the flight to safety trade usually disconnects the inverse relationship between the USD/CHF and EUR/USD.</li>\r\n 	<li>I want as you know to be short EUR/JPY and coupled with EUROZONE headwinds this is a double whammy for this pair. Look out for trade set ups.</li>\r\n 	<li>China, North Korea, Russia, BREXIT and EUROZONE, this is some list of geopolitical possibilities to digest.</li>\r\n</ol>\r\nYou can guarantee that I will NOT RISK my money and therefore your money with any foolhardy trade set ups taking a 30-minute view on matters. I will look for value entries as usual. Should I have a 30-minute view, it will be identifiable as a FLASH or RADAR TRADE.\r\n\r\n<u>CORE TRADES:</u>\r\n<ol>\r\n 	<li>EUR/USD and USD/CHF: - I have reduced RISK. I am looking to add back at previous resistance levels this week.</li>\r\n 	<li>GBP/USD: - Nothing has really changed in my opinion, whilst I have removed a little RISK I am still looking for value to add again.\r\n\r\nThere will be some great GBP long trades in the next 12 months. There will be greater opportunities long GBP than maybe those that remain on the short side.\r\n\r\nA50 now triggered and the timeline for the BREXIT is now in play.\r\n\r\nAs I have stated on several occasions, very few people mention capital outflows out of the UK, these could be huge and are critical. This will start to bite sooner rather than later as the financial institutions start to make plans on their new structures inside a freshly shaped EUROPEAN UNION.</li>\r\n 	<li>EUR/GBP: - Nothing has changed for me with this pair.\r\n\r\nI am still somewhat nervous being short, but believe the EUROZONE risks outweigh those of the UK moving forward. My thoughts are that both the EUR &amp; GBP will start to react together moving forward with BREXIT issues and the EUR/GBP will be caught in the crossfire.</li>\r\n</ol>\r\n<u>PREMIUM SERVICE - TRADES REVIEW<strong>:</strong></u>\r\n\r\nCURRENT PREMIUM SERVICE - LIVE TRADES:\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/LIVE-TRADES-09042017.png\"><img class=\"aligncenter size-large wp-image-9366\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/LIVE-TRADES-09042017-891x1024.png\" alt=\"\" width=\"891\" height=\"1024\" /></a>\r\n\r\nCURRENT PREMIUM SERVICE – LIMIT ORDER TRADES:\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/LIMIT-ORDERS-09042017.png\"><img class=\"aligncenter size-large wp-image-9365\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/LIMIT-ORDERS-09042017-740x1024.png\" alt=\"\" width=\"740\" height=\"1024\" /></a>\r\n\r\n<strong> </strong>\r\n\r\n<strong> </strong>\r\n<ol start=\"5\">\r\n 	<li><strong> THE SOAPBOX:</strong></li>\r\n</ol>\r\n<strong>MY PROCESS (OF TRADING)</strong>\r\n\r\nWhere to start.\r\n\r\nSeveral weeks ago, I mentioned in the blog that I had received a few questions about my process in trade selection. I stated that I would come back to this sometime in the future. That future time is now.\r\n\r\nThere is no better time in my opinion than when geopolitical events risks are high to review your trade selection process.\r\n\r\nMy PROCESS: This is NOT analysis paralysis. This is RISK MANAGEMENT in action.\r\n\r\nIf you attend or watch on You Tube the WEEKLY FX DRIVE THRU – LIVE webinar, you will know that I have a core selection of LEAD INDICATORS that I will always look at first. However, as I have stated on so many occasions, in the FX market CORRELATIONS DO MATTER and I believe these should be looked at for verification and trade confidence.\r\n\r\nOne further parameter I look at that is not on these charts is a currency pairs overall trend / direction. Are the Daily, Weekly and Monthly charts all moving in the same direction? It is often said that “the trend is your friend”. I look at trend as well.\r\n\r\nThis week, I am not writing much; all my comments will be on the charts. I know that this can sometimes be painful opening chart after chart, but this is the clearest way to give my thoughts.\r\n\r\nI am always writing be calm, be patient, take smaller positions and place wider stops but at the same time position size accordingly to manage risk. Never are these words as important as they are right now in my opinion.\r\n\r\nAs you know correlations in all markets matter a great deal to me. They give assurance and confidence placing trades.\r\n\r\nI really hope that you find this chart by chart approach a good insight into my thoughts on how I approach the market and a demonstration of the care that goes into my thought process prior to posting a trade set up for my PREMIUM SERVICE subscribers.\r\n\r\nBelow, I list out what I call my LEAD INDICATOR charts. They include commodities, indexes, currencies and bonds. These combined and their inter-market relationships, give me confidence when placing trades. If they correlate correctly I have additional confidence placing a trade set up or live trade. In addition, do not forget when looking at an individual currency pair to trade I also check directional trends as well.\r\n\r\nBear in mind the PROCESS also helps you manage RISK. RISK MANAGEMENT leads to better trading consistency and enhances your bottom line.\r\n\r\nBelow, I am looking at the current position chart by chart to give me my overview of the market. From this I have my macro fundamentals based on <strong><u>now</u></strong> versus my <strong><u>longer-term fundamentals.</u></strong>\r\n\r\nThis therefore gives me my background to the trading charts when looking for high probability set ups and Technicals to match these fundamentals. I just call it MY PROCESS.\r\n\r\nUSD INDEX (DXY):\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/DXY-09042017.png\"><img class=\"aligncenter size-large wp-image-9371\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/DXY-09042017-1024x508.png\" alt=\"\" width=\"1024\" height=\"508\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\nXAU/USD (GOLD):\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/GOLD-09042017.png\"><img class=\"aligncenter size-large wp-image-9372\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/GOLD-09042017-1024x510.png\" alt=\"\" width=\"1024\" height=\"510\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\nUSOIL (WTi):\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/WTi-09042017.png\"><img class=\"aligncenter size-large wp-image-9376\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/WTi-09042017-1024x521.png\" alt=\"\" width=\"1024\" height=\"521\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\nXCU/USD (COPPER):\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/COPPER-09042017.png\"><img class=\"aligncenter size-large wp-image-9370\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/COPPER-09042017-1024x546.png\" alt=\"\" width=\"1024\" height=\"546\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\nSPX (S&amp;P 500):\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/SPX500-09042017.png\"><img class=\"aligncenter size-large wp-image-9373\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/SPX500-09042017-1024x511.png\" alt=\"\" width=\"1024\" height=\"511\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\nUS10Y (US 10 YEAR NOTE):\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/10TNOTES-09042017.png\"><img class=\"aligncenter size-large wp-image-9367\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/10TNOTES-09042017-1024x549.png\" alt=\"\" width=\"1024\" height=\"549\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\nUSD/SEK:\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/USDSEK-09042017.png\"><img class=\"aligncenter size-large wp-image-9375\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/USDSEK-09042017-1024x564.png\" alt=\"\" width=\"1024\" height=\"564\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\nUSD/CAD:\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/USDCAD-09042017.png\"><img class=\"aligncenter size-large wp-image-9374\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/USDCAD-09042017-1024x541.png\" alt=\"\" width=\"1024\" height=\"541\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\nAUD/USD:\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/AUDUSD-09042017.png\"><img class=\"aligncenter size-large wp-image-9369\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/AUDUSD-09042017-1024x540.png\" alt=\"\" width=\"1024\" height=\"540\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\nAUD/JPY:\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/AUDJPY-09042017.png\"><img class=\"aligncenter size-large wp-image-9368\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/AUDJPY-09042017-1024x545.png\" alt=\"\" width=\"1024\" height=\"545\" /></a>\r\n\r\n&nbsp;\r\n\r\nMy PROCESS in a nutshell is research. It’s your money. Your broker only wants you to keep feeding your account with funds to replace poor trading.\r\n\r\nPROCESS… DISCIPLINE… TRADE PLAN… RISK MANAGEMENT… POSITION SIZING…\r\n\r\nAll of the above blur together for me. The PROCESS helped me stopping feeding my broker accounts. It was too easy not to think properly and just be reactive with trading. It was tantamount to gambling. It is lazy not to manage your trades based upon your RISK and its lazy not to get the best possible entry price.\r\n\r\nMy PROCESS eliminates RISK. It gives me red, amber and green lights.\r\n\r\nThere is a great deal of information and data to digest from the above charts. I know that some of you will think that this is analysis paralysis. Let me write it again this is RISK MANAGEMENT.\r\n\r\nThis is MY PROCESS. This process has generated over 40,000 pips in the past four years in net profits and it works for me.\r\n<ul>\r\n 	<li>Yes, I openly admit it is time consuming and cautious.</li>\r\n 	<li>Yes, I let many trades (100’s a year) pass by that I could have traded.</li>\r\n 	<li>Yes, it is a “steady Eddie” approach.</li>\r\n 	<li>Yes, it requires discipline.</li>\r\n 	<li>Yes, it requires a TRADE PLAN.</li>\r\n 	<li>Yes, this helps you with MANAGING RISK and POSITION SIZING.</li>\r\n 	<li>Yes, you can argue that process is slow.</li>\r\n 	<li>But it works.</li>\r\n</ul>\r\nIn my opinion to trade you must have a PLAN, a PROCESS to achieve trading longevity. This PROCESS works for me and although I can still get caught out at times, my PROCESS has saved me more times than I would like to mention.\r\n\r\nI am a serious longer-term trader that wants to be about in 10 years’ time and maybe even beyond that horizon. Without a PLAN / PROCESS I cannot see how you would achieve trading longevity.\r\n\r\n&nbsp;\r\n<ol start=\"6\">\r\n 	<li><strong> CLOSING THOUGHTS:</strong></li>\r\n</ol>\r\nNothing more to add here, I have said enough except,\r\n\r\nAs usual…\r\n\r\nAlways remember longevity in Forex trading can only be achieved through trading with good RISK and MONEY MANAGEMENT, and above all set your position sizes in accordance with the size of your account and allow for some flexibility.\r\n\r\nTake care, have a great trading week.\r\n\r\nScott Pickering\r\nThe Pip Accumulator\r\nTwitter: @pipaccumulator\r\n<a href=\"http://weeklyfxdrivethru.com/disclaimer/\">http://weeklyfxdrivethru.com/disclaimer/\r\n</a>BLOG VERSION: #134 PREMIUM SERVICE\r\nDATE: 9th April 2017', 'MY PROCESS (OF TRADING)', '', 'inherit', 'closed', 'closed', '', '9384-revision-v1', '', '', '2017-04-08 05:26:08', '2017-04-08 10:26:08', '', 9384, 'https://weeklyfxdrivethru.com/9384-revision-v1/', 0, 'revision', '', 0);
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(9391, 1, '2017-04-08 05:48:52', '2017-04-08 10:48:52', '&nbsp;\r\n<ol>\r\n 	<li><strong>INTRODUCTION:</strong></li>\r\n</ol>\r\nAt the outset of last week, I wrote to subscribers basically saying that new trades would be minimal because of the fact there was such a larger number of high beta economic data releases on the calendar. I saw last week as a week in which to take RISK off the table and bank both pips and $$$.\r\n\r\nI held back on adding numerous trades and in fact I added 4 new LIMIT ORDERS based on some USD weakness, which I thought would be the “play” ahead of and into the release of the NFP data. None of these new limit orders triggered and they are still lying there, but I did throughout the week reduce RISK and remove a few trades. It was a slow week for me regarding activity but the PREMIUM SERVICE banked a positive +358 pips in the first week of April 2017. Therefore, I am of course very happy.\r\n\r\nThe week was plagued by geopolitical news, the dreadful nerve gas attack in Syria, the missile launch by “THE DONALD”, the knock-on effect of this action on the North Korean situation and the on-going relationship between the US and Russia.\r\n\r\nMoving on…\r\n\r\nThe US job numbers always dominate the news for the week in which they are released. ADP were great numbers; the prior month’s data was re-calculated by about 50,000 jobs but the numbers came in strong. The government NFP data missed by about 80,000 jobs but the unemployment rate lowered to 4.5%.\r\n\r\nA big miss, the USD sold off and then strengthened. The trades that I covered ahead of NFP and banked pips and $$$ on, all USD long trades, would have generated 100% more pips 10 minutes after poor job numbers… go figure. As the day progressed, the USD strengthened moving about 60 points on the day. 60 DXY points is a big move.\r\n\r\nI am coming around more and more each month to the viewpoint of the majority of my “peer group” of traders, which is, ignore NFP day, do not add trades and let the day play out. There is a lot to be said for this approach. The chop fest of NFP can be very painful.\r\n\r\nThe FOMC minutes were hawkish and the USD sold off… go figure? We have a situation I think where the markets DO NOT believe the FED rhetoric.\r\n\r\nOther news last week…\r\n\r\nThe UK missed on Manufacturing and Construction PMI but beat the Services PMi. At the end of the week, cable is still weaker. All these traders trying to pick bottoms, only have smelly fingers. I still maintain that with the uncertainty ahead with BREXIT it is foolish to say downside moves have been baked into the GBP/USD price structure.\r\n\r\nSmell the coffee… BREXIT will take years to negotiate and the negotiations have NOT yet started. For God’s sake, this desire to say I picked the bottom is childish. There will be many twists and turns ahead with the odd spike and sell-off. GBP/USD is moving lower.\r\n\r\nDraghi spelled it out in no uncertain terms for the markets eager once again to believe the bottom is in for the EUR/USD.\r\n\r\nThe market makers have the attention span of a one year old child, long may this continue, this inability to remember what they were told gives us buying the dips and selling the rips opportunities.\r\n\r\nThe RBA has not confirmed the target level of 0.6500 for fair value AUD/USD, I think it was the level muted by the NAB, but the bottom line is that the AUD is moving lower whether it be on AUD data or Chinese data.\r\n\r\nWe have some great opportunities lining up, my only caveat is that the heightened geopolitical event risk many skew things a little. Nevertheless, there is light at the end of the tunnel.\r\n\r\nMoving on…\r\n\r\nTHE WEEKLY FX DRIVE THRU – LIVE webinars.\r\n\r\n#9 this Monday 10th April at 5:30PM.\r\n<ul>\r\n 	<li>To attend live - you need Google Chrome as a browser.</li>\r\n 	<li>You cannot view on smart phones or tablets, only Laptops and Desktops.</li>\r\n</ul>\r\nThe “LIVE WEBINAR” link is below: -\r\n\r\n<a href=\"http://bit.ly/drivethru-live\">http://bit.ly/drivethru-live</a>\r\n\r\nIf you cannot listen live you can check out my You Tube channel,\r\n<strong><em>Scott Pickering</em></strong> <strong><em>Weekly FX Drive Thru</em></strong> for a freshly posted copy of the webinar, usually, within a couple of hours of its completion.\r\n\r\nHere is the link for my you tube channel, when I get to 100 subscribers (if I get there) I can have my own personalized shortened link. If you like the style of my webinar, please subscribe. The benefits are that as soon as a new webinar is posted you are emailed.: -\r\n\r\n<a href=\"https://www.youtube.com/channel/UCV-9VDnNkHjTPBzKqLqCGJw/videos\">https://www.youtube.com/channel/UCV-9VDnNkHjTPBzKqLqCGJw/videos</a>\r\n\r\nAlmost there…\r\n\r\nCongratulations to <a href=\"mailto:mike*******@***.com\">mike*******@***.co</a>m\r\n\r\nMike is this month’s winner of a FREE PREMIUM SERVICE subscription. I should have done the draw last week… my bad. By the time this blog is posted mike should be all set up.\r\n\r\nIf you would like to be in the monthly draw to win a “FREE 10-WEEK SUBSCRIPTION” to the PREMIUM SERVICE, valued at CAD$1,000.00, all you have to do is subscribe to receive this FREE NEWSLETTER on my website <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a>  On my welcome page just below my cube logo is where you complete your subscription.\r\n\r\n<strong> </strong><strong> </strong>\r\n<ol start=\"2\">\r\n 	<li><strong> THE FX MARKET PLACE – LOOKING FORWARD:</strong></li>\r\n</ol>\r\n<u>ECONOMIC DATA RELEASES:</u>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/ECON-DATA-09042017.png\"><img class=\"aligncenter size-large wp-image-9363\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/ECON-DATA-09042017-1024x826.png\" alt=\"\" width=\"1024\" height=\"826\" /></a>\r\n\r\n&nbsp;\r\n\r\n<u>MY THOUGHTS ON THE WEEK AHEAD:</u>\r\n\r\nA busy week coming up but I think that geopolitical news will dominate proceedings: -\r\n<ol>\r\n 	<li>CAD: The BOC meets on Wednesday and holds a press conference after the 10:00AM rate announcement at 11:15AM EST.\r\n\r\nI am not expecting anything new from this rate decision. Yes, there are housing bubbles in Vancouver and Toronto, but I think that rate cuts now will fuel these bubbles and that is the last thing that Stephen Poloz, BOC Governor would want.\r\n\r\nThe commentary however, should be interesting.</li>\r\n 	<li>USD: We have Consumer Sentiment data on Thursday, and that is the pick of the US data releases for me.</li>\r\n</ol>\r\nObviously, the BREXIT news will be on the wires at ad-hoc times. I am however, expecting this to calm down as the 27 members of the EU do not meet to formally discuss BREXIT until the end of April and negotiations do not start until the end of May. Nevertheless, we still should be on our toes.\r\n\r\n<u>USD MAJORS – “IMMEDIATE” SUPPORT &amp; RESISTANCE:</u>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/TCHART-09042017.png\"><img class=\"aligncenter size-large wp-image-9364\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/TCHART-09042017-1024x857.png\" alt=\"\" width=\"1024\" height=\"857\" /></a>\r\n\r\n&nbsp;\r\n\r\nThe charts below contain commentary (my thoughts and views), these are the USD major charts that are reflected in the spreadsheet above.\r\n<strong>EUR/USD:</strong>\r\n\r\n<strong> <a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/EURUSD-D-09042017.png\"><img class=\"aligncenter size-large wp-image-9378\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/EURUSD-D-09042017-1024x454.png\" alt=\"\" width=\"1024\" height=\"454\" /></a></strong>\r\n\r\n<strong> </strong>\r\n\r\n<strong>GBP/USD:</strong>\r\n\r\n<strong> <a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/GBPUSD-D-09042017.png\"><img class=\"aligncenter size-large wp-image-9379\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/GBPUSD-D-09042017-1024x454.png\" alt=\"\" width=\"1024\" height=\"454\" /></a></strong>\r\n\r\n<strong> </strong>\r\n\r\n<strong>AUD/USD:</strong>\r\n\r\n<strong> <a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/AUDUSD-D-09042017.png\"><img class=\"aligncenter size-large wp-image-9377\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/AUDUSD-D-09042017-1024x454.png\" alt=\"\" width=\"1024\" height=\"454\" /></a></strong>\r\n\r\n<strong> </strong>\r\n\r\n<strong>NZD/USD:</strong>\r\n\r\n<strong> <a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/NZDUSD-D-09042017.png\"><img class=\"aligncenter size-large wp-image-9380\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/NZDUSD-D-09042017-1024x454.png\" alt=\"\" width=\"1024\" height=\"454\" /></a></strong>\r\n\r\n<strong> </strong>\r\n\r\n<strong>USD/CAD:</strong>\r\n\r\n<strong><a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/USDCAD-D-09042017.png\"><img class=\"aligncenter size-large wp-image-9383\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/USDCAD-D-09042017-1024x454.png\" alt=\"\" width=\"1024\" height=\"454\" /></a> </strong>\r\n\r\n<strong> </strong>\r\n\r\n<strong>USD/CHF:</strong>\r\n\r\n<strong> <a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/USDCHF-D-09042017.png\"><img class=\"aligncenter size-large wp-image-9381\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/USDCHF-D-09042017-1024x454.png\" alt=\"\" width=\"1024\" height=\"454\" /></a></strong>\r\n\r\n<strong> </strong>\r\n\r\n<strong>USD/JPY:</strong>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/USDJPY-D-09042017.png\"><img class=\"aligncenter size-large wp-image-9382\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/USDJPY-D-09042017-1024x454.png\" alt=\"\" width=\"1024\" height=\"454\" /></a>\r\n\r\n&nbsp;\r\n\r\n<strong>\r\n</strong>\r\n<ol start=\"3\">\r\n 	<li><strong> THE PREMIUM SERVICE:</strong></li>\r\n</ol>\r\n<u>WHAT IS THE PREMIUM SERVICE?</u>\r\n\r\nThe PREMIUM SERVICE is a subscriber based Forex support service offering not just trade set-ups, but a bunch of different support services that differentiates the PREMIUM SERVICE from other providers, my competitors, that operate in the same space.\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 PREMIUM SERVICE tab.\r\n\r\nFurther information can be found by clicking TESTIMONIALS, PART-TIME TRADERS and FX PROMOTIONS tabs. To subscribe to THE PREMIUM SERVICE, you will require a valid credit card.\r\n\r\n<u> </u>\r\n\r\n<u>PREMIUM SERVICE PERFORMANCE YEAR TO DATE:</u>\r\n\r\nMONTH TO DATE: +358 pips\r\nYEAR TO DATE:      +1,851 pips\r\n\r\nI am still a little way behind my target. But trading is gathering momentum once again and I am still very confident of achieving my year-end target of 10,000 net profitable pips.\r\n\r\n&nbsp;\r\n\r\n<u>PREMIUM SERVICE –  SUBSCRIBER PROMOTION:</u>\r\n\r\n<strong><u>“DOUBLE IT UP”</u></strong>\r\n\r\nI usually run a PREMIUM SERVICE subscriber promotion at the end of the old year /start of a new year.\r\n\r\nBecause I knew that this year I would be moving home and traveling in Q2, I deliberately decided to wait, to launch a promotion around that time.\r\n\r\nThis is the biggest and I believe the best subscriber promotion that I have ever offered.\r\n\r\nWhat is <strong>“DOUBLE IT UP”</strong> all about…\r\n\r\nBasically, from now until June 30<sup>th,</sup> 2017 anyone who subscribes to the PREMIUM SERVICE through my “SUBSCRIBE HERE” tab at the top of my welcome page will have their subscription period doubled at no extra cost.\r\n\r\nIn addition, all subscriptions regardless of the date of subscribing will not start until June 30th 2017.\r\n\r\nThis means that from the day of joining the PREMIUM SERVICE you will have 100% access. This could give you up to an additional 12 weeks of membership to the PREMIUM SERVICE depending upon the date you subscribe.\r\n\r\nThis 12-week period covers the period that I am moving home and traveling, and therefore there may be days at a time with zero activity, and there will be some because I will be out of coverage and simply on vacation, but it’s all “FREE” in any case, so whatever happens, it is all a bonus anyhow as your subscription period will officially commence June 30th 2017.\r\n\r\nConfirmation of the <strong>“DOUBLE IT UP” </strong>will be contained in the “welcome on board documents” the accompanies your subscription confirmation.\r\n\r\nThis is the best and most generous promotion that I have ever offered since starting the PREMIUM SERVICE and I hope that many of you take advantage.\r\n\r\n<strong><u>IMPORTANT TO NOTE:</u></strong> Joining the PREMIUM SERVICE <strong><u>now</u></strong> on a 10-week subscription gives you a 20-week subscription period with THE DOUBLE IT UP promotion. This basically covers 2017 in total when you allow for the summer break and the delayed promotional start of your subscription period. At CAD$1,000 this is a great opportunity and fantastic value.\r\n\r\nI add below my “DRIVE THRU blog / TRADING date charts for 2017, 2018 and 2019.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/03/BLOG-DATES-2017-2019.png\"><img class=\"aligncenter size-large wp-image-9300\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/03/BLOG-DATES-2017-2019-1024x621.png\" alt=\"\" width=\"1024\" height=\"621\" /></a>\r\n\r\nPLUS:\r\n\r\nIf you would like to know a little more about THE PREMIUM SERVICE please feel free to watch the following 40-minute video via the link below:\r\n\r\n<a href=\"http://bit.ly/PremServiceQ217\">http://bit.ly/PremServiceQ217</a>\r\n\r\nPLEASE NOTE: the above video is best viewed using a Google Chrome browser.\r\n\r\n<strong>\r\n</strong>\r\n<ol start=\"4\">\r\n 	<li><strong> PREMIUM SERVICE – SUBSCRIBER CONTENT AREA:</strong></li>\r\n</ol>\r\n<strong> </strong>\r\n<ol start=\"5\">\r\n 	<li><strong> THE SOAPBOX:</strong></li>\r\n</ol>\r\n<strong>MY PROCESS (OF TRADING)</strong>\r\n\r\nWhere to start.\r\n\r\nSeveral weeks ago, I mentioned in the blog that I had received a few questions about my process in trade selection. I stated that I would come back to this sometime in the future. That future time is now.\r\n\r\nThere is no better time in my opinion than when geopolitical events risks are high to review your trade selection process.\r\n\r\nMy PROCESS: This is NOT analysis paralysis. This is RISK MANAGEMENT in action.\r\n\r\nIf you attend or watch on You Tube the WEEKLY FX DRIVE THRU – LIVE webinar, you will know that I have a core selection of LEAD INDICATORS that I will always look at first. However, as I have stated on so many occasions, in the FX market CORRELATIONS DO MATTER and I believe these should be looked at for verification and trade confidence.\r\n\r\nOne further parameter I look at that is not on these charts is a currency pairs overall trend / direction. Are the Daily, Weekly and Monthly charts all moving in the same direction? It is often said that “the trend is your friend”. I look at trend as well.\r\n\r\nThis week, I am not writing much; all my comments will be on the charts. I know that this can sometimes be painful opening chart after chart, but this is the clearest way to give my thoughts.\r\n\r\nI am always writing be calm, be patient, take smaller positions and place wider stops but at the same time position size accordingly to manage risk. Never are these words as important as they are right now in my opinion.\r\n\r\nAs you know correlations in all markets matter a great deal to me. They give assurance and confidence placing trades.\r\n\r\nI really hope that you find this chart by chart approach a good insight into my thoughts on how I approach the market and a demonstration of the care that goes into my thought process prior to posting a trade set up for my PREMIUM SERVICE subscribers.\r\n\r\nBelow, I list out what I call my LEAD INDICATOR charts. They include commodities, indexes, currencies and bonds. These combined and their inter-market relationships, give me confidence when placing trades. If they correlate correctly I have additional confidence placing a trade set up or live trade. In addition, do not forget when looking at an individual currency pair to trade I also check directional trends as well.\r\n\r\nBear in mind the PROCESS also helps you manage RISK. RISK MANAGEMENT leads to better trading consistency and enhances your bottom line.\r\n\r\nBelow, I am looking at the current position chart by chart to give me my overview of the market. From this I have my macro fundamentals based on <strong><u>now</u></strong> versus my <strong><u>longer-term fundamentals.</u></strong>\r\n\r\nThis therefore gives me my background to the trading charts when looking for high probability set ups and Technicals to match these fundamentals. I just call it MY PROCESS.\r\n\r\nUSD INDEX (DXY):\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/DXY-09042017.png\"><img class=\"aligncenter size-large wp-image-9371\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/DXY-09042017-1024x508.png\" alt=\"\" width=\"1024\" height=\"508\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\nXAU/USD (GOLD):\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/GOLD-09042017.png\"><img class=\"aligncenter size-large wp-image-9372\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/GOLD-09042017-1024x510.png\" alt=\"\" width=\"1024\" height=\"510\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\nUSOIL (WTi):\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/WTi-09042017.png\"><img class=\"aligncenter size-large wp-image-9376\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/WTi-09042017-1024x521.png\" alt=\"\" width=\"1024\" height=\"521\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\nXCU/USD (COPPER):\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/COPPER-09042017.png\"><img class=\"aligncenter size-large wp-image-9370\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/COPPER-09042017-1024x546.png\" alt=\"\" width=\"1024\" height=\"546\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\nSPX (S&amp;P 500):\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/SPX500-09042017.png\"><img class=\"aligncenter size-large wp-image-9373\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/SPX500-09042017-1024x511.png\" alt=\"\" width=\"1024\" height=\"511\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\nUS10Y (US 10 YEAR NOTE):\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/10TNOTES-09042017.png\"><img class=\"aligncenter size-large wp-image-9367\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/10TNOTES-09042017-1024x549.png\" alt=\"\" width=\"1024\" height=\"549\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\nUSD/SEK:\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/USDSEK-09042017.png\"><img class=\"aligncenter size-large wp-image-9375\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/USDSEK-09042017-1024x564.png\" alt=\"\" width=\"1024\" height=\"564\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\nUSD/CAD:\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/USDCAD-09042017.png\"><img class=\"aligncenter size-large wp-image-9374\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/USDCAD-09042017-1024x541.png\" alt=\"\" width=\"1024\" height=\"541\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\nAUD/USD:\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/AUDUSD-09042017.png\"><img class=\"aligncenter size-large wp-image-9369\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/AUDUSD-09042017-1024x540.png\" alt=\"\" width=\"1024\" height=\"540\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\nAUD/JPY:\r\n\r\n<u><a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/AUDJPY-09042017.png\"><img class=\"aligncenter size-large wp-image-9368\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/AUDJPY-09042017-1024x545.png\" alt=\"\" width=\"1024\" height=\"545\" /></a></u>\r\n\r\n&nbsp;\r\n\r\nMy PROCESS in a nutshell is research. It’s your money. Your broker only wants you to keep feeding your account with funds to replace poor trading.\r\n\r\nPROCESS… DISCIPLINE… TRADE PLAN… RISK MANAGEMENT… POSITION SIZING…\r\n\r\nAll of the above blur together for me. The PROCESS helped me stopping feeding my broker accounts. It was too easy not to think properly and just be reactive with trading. It was tantamount to gambling. It is lazy not to manage your trades based upon your RISK and its lazy not to get the best possible entry price.\r\n\r\nMy PROCESS eliminates RISK. It gives me red, amber and green lights.\r\n\r\nThere is a great deal of information and data to digest from the above charts. I know that some of you will think that this is analysis paralysis. Let me write it again this is RISK MANAGEMENT.\r\n\r\nThis is MY PROCESS. This process has generated over 40,000 pips in the past four years in net profits and it works for me.\r\n<ul>\r\n 	<li>Yes, I openly admit it is time consuming and cautious.</li>\r\n 	<li>Yes, I let many trades (100’s a year) pass by that I could have traded.</li>\r\n 	<li>Yes, it is a “steady Eddie” approach.</li>\r\n 	<li>Yes, it requires discipline.</li>\r\n 	<li>Yes, it requires a TRADE PLAN.</li>\r\n 	<li>Yes, this helps you with MANAGING RISK and POSITION SIZING.</li>\r\n 	<li>Yes, you can argue that process is slow.</li>\r\n 	<li>But it works.</li>\r\n</ul>\r\nIn my opinion to trade you must have a PLAN, a PROCESS to achieve trading longevity. This PROCESS works for me and although I can still get caught out at times, my PROCESS has saved me more times than I would like to mention.\r\n\r\nI am a serious longer-term trader that wants to be about in 10 years’ time and maybe even beyond that horizon. Without a PLAN / PROCESS I cannot see how you would achieve trading longevity.\r\n\r\n&nbsp;\r\n<ol start=\"6\">\r\n 	<li><strong> CLOSING THOUGHTS:</strong></li>\r\n</ol>\r\nNothing more to add here, I have said enough except,\r\n\r\nAs usual…\r\n\r\nAlways remember longevity in Forex trading can only be achieved through trading with good RISK and MONEY MANAGEMENT, and above all set your position sizes in accordance with the size of your account and allow for some flexibility.\r\n\r\nTake care, have a great trading week.\r\n\r\nScott Pickering\r\nThe Pip Accumulator\r\nTwitter: @pipaccumulator\r\n<a href=\"http://weeklyfxdrivethru.com/disclaimer/\">http://weeklyfxdrivethru.com/disclaimer/</a>\r\n\r\nBLOG VERSION: #238 FREE NEWSLETTER\r\nDATE: 9th April 2017.\r\n\r\n&nbsp;', 'MY PROCESS (OF TRADING)', '', 'publish', 'open', 'closed', '', 'my-process-of-trading', '', '', '2017-04-08 05:48:52', '2017-04-08 10:48:52', '', 0, 'https://weeklyfxdrivethru.com/?p=9391', 0, 'post', '', 0),
(9392, 1, '2017-04-08 05:48:52', '2017-04-08 10:48:52', '&nbsp;\r\n<ol>\r\n 	<li><strong>INTRODUCTION:</strong></li>\r\n</ol>\r\nAt the outset of last week, I wrote to subscribers basically saying that new trades would be minimal because of the fact there was such a larger number of high beta economic data releases on the calendar. I saw last week as a week in which to take RISK off the table and bank both pips and $$$.\r\n\r\nI held back on adding numerous trades and in fact I added 4 new LIMIT ORDERS based on some USD weakness, which I thought would be the “play” ahead of and into the release of the NFP data. None of these new limit orders triggered and they are still lying there, but I did throughout the week reduce RISK and remove a few trades. It was a slow week for me regarding activity but the PREMIUM SERVICE banked a positive +358 pips in the first week of April 2017. Therefore, I am of course very happy.\r\n\r\nThe week was plagued by geopolitical news, the dreadful nerve gas attack in Syria, the missile launch by “THE DONALD”, the knock-on effect of this action on the North Korean situation and the on-going relationship between the US and Russia.\r\n\r\nMoving on…\r\n\r\nThe US job numbers always dominate the news for the week in which they are released. ADP were great numbers; the prior month’s data was re-calculated by about 50,000 jobs but the numbers came in strong. The government NFP data missed by about 80,000 jobs but the unemployment rate lowered to 4.5%.\r\n\r\nA big miss, the USD sold off and then strengthened. The trades that I covered ahead of NFP and banked pips and $$$ on, all USD long trades, would have generated 100% more pips 10 minutes after poor job numbers… go figure. As the day progressed, the USD strengthened moving about 60 points on the day. 60 DXY points is a big move.\r\n\r\nI am coming around more and more each month to the viewpoint of the majority of my “peer group” of traders, which is, ignore NFP day, do not add trades and let the day play out. There is a lot to be said for this approach. The chop fest of NFP can be very painful.\r\n\r\nThe FOMC minutes were hawkish and the USD sold off… go figure? We have a situation I think where the markets DO NOT believe the FED rhetoric.\r\n\r\nOther news last week…\r\n\r\nThe UK missed on Manufacturing and Construction PMI but beat the Services PMi. At the end of the week, cable is still weaker. All these traders trying to pick bottoms, only have smelly fingers. I still maintain that with the uncertainty ahead with BREXIT it is foolish to say downside moves have been baked into the GBP/USD price structure.\r\n\r\nSmell the coffee… BREXIT will take years to negotiate and the negotiations have NOT yet started. For God’s sake, this desire to say I picked the bottom is childish. There will be many twists and turns ahead with the odd spike and sell-off. GBP/USD is moving lower.\r\n\r\nDraghi spelled it out in no uncertain terms for the markets eager once again to believe the bottom is in for the EUR/USD.\r\n\r\nThe market makers have the attention span of a one year old child, long may this continue, this inability to remember what they were told gives us buying the dips and selling the rips opportunities.\r\n\r\nThe RBA has not confirmed the target level of 0.6500 for fair value AUD/USD, I think it was the level muted by the NAB, but the bottom line is that the AUD is moving lower whether it be on AUD data or Chinese data.\r\n\r\nWe have some great opportunities lining up, my only caveat is that the heightened geopolitical event risk many skew things a little. Nevertheless, there is light at the end of the tunnel.\r\n\r\nMoving on…\r\n\r\nTHE WEEKLY FX DRIVE THRU – LIVE webinars.\r\n\r\n#9 this Monday 10th April at 5:30PM.\r\n<ul>\r\n 	<li>To attend live - you need Google Chrome as a browser.</li>\r\n 	<li>You cannot view on smart phones or tablets, only Laptops and Desktops.</li>\r\n</ul>\r\nThe “LIVE WEBINAR” link is below: -\r\n\r\n<a href=\"http://bit.ly/drivethru-live\">http://bit.ly/drivethru-live</a>\r\n\r\nIf you cannot listen live you can check out my You Tube channel,\r\n<strong><em>Scott Pickering</em></strong> <strong><em>Weekly FX Drive Thru</em></strong> for a freshly posted copy of the webinar, usually, within a couple of hours of its completion.\r\n\r\nHere is the link for my you tube channel, when I get to 100 subscribers (if I get there) I can have my own personalized shortened link. If you like the style of my webinar, please subscribe. The benefits are that as soon as a new webinar is posted you are emailed.: -\r\n\r\n<a href=\"https://www.youtube.com/channel/UCV-9VDnNkHjTPBzKqLqCGJw/videos\">https://www.youtube.com/channel/UCV-9VDnNkHjTPBzKqLqCGJw/videos</a>\r\n\r\nAlmost there…\r\n\r\nCongratulations to <a href=\"mailto:mike*******@***.com\">mike*******@***.co</a>m\r\n\r\nMike is this month’s winner of a FREE PREMIUM SERVICE subscription. I should have done the draw last week… my bad. By the time this blog is posted mike should be all set up.\r\n\r\nIf you would like to be in the monthly draw to win a “FREE 10-WEEK SUBSCRIPTION” to the PREMIUM SERVICE, valued at CAD$1,000.00, all you have to do is subscribe to receive this FREE NEWSLETTER on my website <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a>  On my welcome page just below my cube logo is where you complete your subscription.\r\n\r\n<strong> </strong><strong> </strong>\r\n<ol start=\"2\">\r\n 	<li><strong> THE FX MARKET PLACE – LOOKING FORWARD:</strong></li>\r\n</ol>\r\n<u>ECONOMIC DATA RELEASES:</u>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/ECON-DATA-09042017.png\"><img class=\"aligncenter size-large wp-image-9363\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/ECON-DATA-09042017-1024x826.png\" alt=\"\" width=\"1024\" height=\"826\" /></a>\r\n\r\n&nbsp;\r\n\r\n<u>MY THOUGHTS ON THE WEEK AHEAD:</u>\r\n\r\nA busy week coming up but I think that geopolitical news will dominate proceedings: -\r\n<ol>\r\n 	<li>CAD: The BOC meets on Wednesday and holds a press conference after the 10:00AM rate announcement at 11:15AM EST.\r\n\r\nI am not expecting anything new from this rate decision. Yes, there are housing bubbles in Vancouver and Toronto, but I think that rate cuts now will fuel these bubbles and that is the last thing that Stephen Poloz, BOC Governor would want.\r\n\r\nThe commentary however, should be interesting.</li>\r\n 	<li>USD: We have Consumer Sentiment data on Thursday, and that is the pick of the US data releases for me.</li>\r\n</ol>\r\nObviously, the BREXIT news will be on the wires at ad-hoc times. I am however, expecting this to calm down as the 27 members of the EU do not meet to formally discuss BREXIT until the end of April and negotiations do not start until the end of May. Nevertheless, we still should be on our toes.\r\n\r\n<u>USD MAJORS – “IMMEDIATE” SUPPORT &amp; RESISTANCE:</u>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/TCHART-09042017.png\"><img class=\"aligncenter size-large wp-image-9364\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/TCHART-09042017-1024x857.png\" alt=\"\" width=\"1024\" height=\"857\" /></a>\r\n\r\n&nbsp;\r\n\r\nThe charts below contain commentary (my thoughts and views), these are the USD major charts that are reflected in the spreadsheet above.\r\n<strong>EUR/USD:</strong>\r\n\r\n<strong> <a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/EURUSD-D-09042017.png\"><img class=\"aligncenter size-large wp-image-9378\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/EURUSD-D-09042017-1024x454.png\" alt=\"\" width=\"1024\" height=\"454\" /></a></strong>\r\n\r\n<strong> </strong>\r\n\r\n<strong>GBP/USD:</strong>\r\n\r\n<strong> <a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/GBPUSD-D-09042017.png\"><img class=\"aligncenter size-large wp-image-9379\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/GBPUSD-D-09042017-1024x454.png\" alt=\"\" width=\"1024\" height=\"454\" /></a></strong>\r\n\r\n<strong> </strong>\r\n\r\n<strong>AUD/USD:</strong>\r\n\r\n<strong> <a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/AUDUSD-D-09042017.png\"><img class=\"aligncenter size-large wp-image-9377\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/AUDUSD-D-09042017-1024x454.png\" alt=\"\" width=\"1024\" height=\"454\" /></a></strong>\r\n\r\n<strong> </strong>\r\n\r\n<strong>NZD/USD:</strong>\r\n\r\n<strong> <a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/NZDUSD-D-09042017.png\"><img class=\"aligncenter size-large wp-image-9380\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/NZDUSD-D-09042017-1024x454.png\" alt=\"\" width=\"1024\" height=\"454\" /></a></strong>\r\n\r\n<strong> </strong>\r\n\r\n<strong>USD/CAD:</strong>\r\n\r\n<strong><a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/USDCAD-D-09042017.png\"><img class=\"aligncenter size-large wp-image-9383\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/USDCAD-D-09042017-1024x454.png\" alt=\"\" width=\"1024\" height=\"454\" /></a> </strong>\r\n\r\n<strong> </strong>\r\n\r\n<strong>USD/CHF:</strong>\r\n\r\n<strong> <a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/USDCHF-D-09042017.png\"><img class=\"aligncenter size-large wp-image-9381\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/USDCHF-D-09042017-1024x454.png\" alt=\"\" width=\"1024\" height=\"454\" /></a></strong>\r\n\r\n<strong> </strong>\r\n\r\n<strong>USD/JPY:</strong>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/USDJPY-D-09042017.png\"><img class=\"aligncenter size-large wp-image-9382\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/USDJPY-D-09042017-1024x454.png\" alt=\"\" width=\"1024\" height=\"454\" /></a>\r\n\r\n&nbsp;\r\n\r\n<strong>\r\n</strong>\r\n<ol start=\"3\">\r\n 	<li><strong> THE PREMIUM SERVICE:</strong></li>\r\n</ol>\r\n<u>WHAT IS THE PREMIUM SERVICE?</u>\r\n\r\nThe PREMIUM SERVICE is a subscriber based Forex support service offering not just trade set-ups, but a bunch of different support services that differentiates the PREMIUM SERVICE from other providers, my competitors, that operate in the same space.\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 PREMIUM SERVICE tab.\r\n\r\nFurther information can be found by clicking TESTIMONIALS, PART-TIME TRADERS and FX PROMOTIONS tabs. To subscribe to THE PREMIUM SERVICE, you will require a valid credit card.\r\n\r\n<u> </u>\r\n\r\n<u>PREMIUM SERVICE PERFORMANCE YEAR TO DATE:</u>\r\n\r\nMONTH TO DATE: +358 pips\r\nYEAR TO DATE:      +1,851 pips\r\n\r\nI am still a little way behind my target. But trading is gathering momentum once again and I am still very confident of achieving my year-end target of 10,000 net profitable pips.\r\n\r\n&nbsp;\r\n\r\n<u>PREMIUM SERVICE –  SUBSCRIBER PROMOTION:</u>\r\n\r\n<strong><u>“DOUBLE IT UP”</u></strong>\r\n\r\nI usually run a PREMIUM SERVICE subscriber promotion at the end of the old year /start of a new year.\r\n\r\nBecause I knew that this year I would be moving home and traveling in Q2, I deliberately decided to wait, to launch a promotion around that time.\r\n\r\nThis is the biggest and I believe the best subscriber promotion that I have ever offered.\r\n\r\nWhat is <strong>“DOUBLE IT UP”</strong> all about…\r\n\r\nBasically, from now until June 30<sup>th,</sup> 2017 anyone who subscribes to the PREMIUM SERVICE through my “SUBSCRIBE HERE” tab at the top of my welcome page will have their subscription period doubled at no extra cost.\r\n\r\nIn addition, all subscriptions regardless of the date of subscribing will not start until June 30th 2017.\r\n\r\nThis means that from the day of joining the PREMIUM SERVICE you will have 100% access. This could give you up to an additional 12 weeks of membership to the PREMIUM SERVICE depending upon the date you subscribe.\r\n\r\nThis 12-week period covers the period that I am moving home and traveling, and therefore there may be days at a time with zero activity, and there will be some because I will be out of coverage and simply on vacation, but it’s all “FREE” in any case, so whatever happens, it is all a bonus anyhow as your subscription period will officially commence June 30th 2017.\r\n\r\nConfirmation of the <strong>“DOUBLE IT UP” </strong>will be contained in the “welcome on board documents” the accompanies your subscription confirmation.\r\n\r\nThis is the best and most generous promotion that I have ever offered since starting the PREMIUM SERVICE and I hope that many of you take advantage.\r\n\r\n<strong><u>IMPORTANT TO NOTE:</u></strong> Joining the PREMIUM SERVICE <strong><u>now</u></strong> on a 10-week subscription gives you a 20-week subscription period with THE DOUBLE IT UP promotion. This basically covers 2017 in total when you allow for the summer break and the delayed promotional start of your subscription period. At CAD$1,000 this is a great opportunity and fantastic value.\r\n\r\nI add below my “DRIVE THRU blog / TRADING date charts for 2017, 2018 and 2019.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/03/BLOG-DATES-2017-2019.png\"><img class=\"aligncenter size-large wp-image-9300\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/03/BLOG-DATES-2017-2019-1024x621.png\" alt=\"\" width=\"1024\" height=\"621\" /></a>\r\n\r\nPLUS:\r\n\r\nIf you would like to know a little more about THE PREMIUM SERVICE please feel free to watch the following 40-minute video via the link below:\r\n\r\n<a href=\"http://bit.ly/PremServiceQ217\">http://bit.ly/PremServiceQ217</a>\r\n\r\nPLEASE NOTE: the above video is best viewed using a Google Chrome browser.\r\n\r\n<strong>\r\n</strong>\r\n<ol start=\"4\">\r\n 	<li><strong> PREMIUM SERVICE – SUBSCRIBER CONTENT AREA:</strong></li>\r\n</ol>\r\n<strong> </strong>\r\n<ol start=\"5\">\r\n 	<li><strong> THE SOAPBOX:</strong></li>\r\n</ol>\r\n<strong>MY PROCESS (OF TRADING)</strong>\r\n\r\nWhere to start.\r\n\r\nSeveral weeks ago, I mentioned in the blog that I had received a few questions about my process in trade selection. I stated that I would come back to this sometime in the future. That future time is now.\r\n\r\nThere is no better time in my opinion than when geopolitical events risks are high to review your trade selection process.\r\n\r\nMy PROCESS: This is NOT analysis paralysis. This is RISK MANAGEMENT in action.\r\n\r\nIf you attend or watch on You Tube the WEEKLY FX DRIVE THRU – LIVE webinar, you will know that I have a core selection of LEAD INDICATORS that I will always look at first. However, as I have stated on so many occasions, in the FX market CORRELATIONS DO MATTER and I believe these should be looked at for verification and trade confidence.\r\n\r\nOne further parameter I look at that is not on these charts is a currency pairs overall trend / direction. Are the Daily, Weekly and Monthly charts all moving in the same direction? It is often said that “the trend is your friend”. I look at trend as well.\r\n\r\nThis week, I am not writing much; all my comments will be on the charts. I know that this can sometimes be painful opening chart after chart, but this is the clearest way to give my thoughts.\r\n\r\nI am always writing be calm, be patient, take smaller positions and place wider stops but at the same time position size accordingly to manage risk. Never are these words as important as they are right now in my opinion.\r\n\r\nAs you know correlations in all markets matter a great deal to me. They give assurance and confidence placing trades.\r\n\r\nI really hope that you find this chart by chart approach a good insight into my thoughts on how I approach the market and a demonstration of the care that goes into my thought process prior to posting a trade set up for my PREMIUM SERVICE subscribers.\r\n\r\nBelow, I list out what I call my LEAD INDICATOR charts. They include commodities, indexes, currencies and bonds. These combined and their inter-market relationships, give me confidence when placing trades. If they correlate correctly I have additional confidence placing a trade set up or live trade. In addition, do not forget when looking at an individual currency pair to trade I also check directional trends as well.\r\n\r\nBear in mind the PROCESS also helps you manage RISK. RISK MANAGEMENT leads to better trading consistency and enhances your bottom line.\r\n\r\nBelow, I am looking at the current position chart by chart to give me my overview of the market. From this I have my macro fundamentals based on <strong><u>now</u></strong> versus my <strong><u>longer-term fundamentals.</u></strong>\r\n\r\nThis therefore gives me my background to the trading charts when looking for high probability set ups and Technicals to match these fundamentals. I just call it MY PROCESS.\r\n\r\nUSD INDEX (DXY):\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/DXY-09042017.png\"><img class=\"aligncenter size-large wp-image-9371\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/DXY-09042017-1024x508.png\" alt=\"\" width=\"1024\" height=\"508\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\nXAU/USD (GOLD):\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/GOLD-09042017.png\"><img class=\"aligncenter size-large wp-image-9372\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/GOLD-09042017-1024x510.png\" alt=\"\" width=\"1024\" height=\"510\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\nUSOIL (WTi):\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/WTi-09042017.png\"><img class=\"aligncenter size-large wp-image-9376\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/WTi-09042017-1024x521.png\" alt=\"\" width=\"1024\" height=\"521\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\nXCU/USD (COPPER):\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/COPPER-09042017.png\"><img class=\"aligncenter size-large wp-image-9370\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/COPPER-09042017-1024x546.png\" alt=\"\" width=\"1024\" height=\"546\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\nSPX (S&amp;P 500):\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/SPX500-09042017.png\"><img class=\"aligncenter size-large wp-image-9373\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/SPX500-09042017-1024x511.png\" alt=\"\" width=\"1024\" height=\"511\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\nUS10Y (US 10 YEAR NOTE):\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/10TNOTES-09042017.png\"><img class=\"aligncenter size-large wp-image-9367\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/10TNOTES-09042017-1024x549.png\" alt=\"\" width=\"1024\" height=\"549\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\nUSD/SEK:\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/USDSEK-09042017.png\"><img class=\"aligncenter size-large wp-image-9375\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/USDSEK-09042017-1024x564.png\" alt=\"\" width=\"1024\" height=\"564\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\nUSD/CAD:\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/USDCAD-09042017.png\"><img class=\"aligncenter size-large wp-image-9374\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/USDCAD-09042017-1024x541.png\" alt=\"\" width=\"1024\" height=\"541\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\nAUD/USD:\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/AUDUSD-09042017.png\"><img class=\"aligncenter size-large wp-image-9369\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/AUDUSD-09042017-1024x540.png\" alt=\"\" width=\"1024\" height=\"540\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\nAUD/JPY:\r\n\r\n<u><a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/AUDJPY-09042017.png\"><img class=\"aligncenter size-large wp-image-9368\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/AUDJPY-09042017-1024x545.png\" alt=\"\" width=\"1024\" height=\"545\" /></a></u>\r\n\r\n&nbsp;\r\n\r\nMy PROCESS in a nutshell is research. It’s your money. Your broker only wants you to keep feeding your account with funds to replace poor trading.\r\n\r\nPROCESS… DISCIPLINE… TRADE PLAN… RISK MANAGEMENT… POSITION SIZING…\r\n\r\nAll of the above blur together for me. The PROCESS helped me stopping feeding my broker accounts. It was too easy not to think properly and just be reactive with trading. It was tantamount to gambling. It is lazy not to manage your trades based upon your RISK and its lazy not to get the best possible entry price.\r\n\r\nMy PROCESS eliminates RISK. It gives me red, amber and green lights.\r\n\r\nThere is a great deal of information and data to digest from the above charts. I know that some of you will think that this is analysis paralysis. Let me write it again this is RISK MANAGEMENT.\r\n\r\nThis is MY PROCESS. This process has generated over 40,000 pips in the past four years in net profits and it works for me.\r\n<ul>\r\n 	<li>Yes, I openly admit it is time consuming and cautious.</li>\r\n 	<li>Yes, I let many trades (100’s a year) pass by that I could have traded.</li>\r\n 	<li>Yes, it is a “steady Eddie” approach.</li>\r\n 	<li>Yes, it requires discipline.</li>\r\n 	<li>Yes, it requires a TRADE PLAN.</li>\r\n 	<li>Yes, this helps you with MANAGING RISK and POSITION SIZING.</li>\r\n 	<li>Yes, you can argue that process is slow.</li>\r\n 	<li>But it works.</li>\r\n</ul>\r\nIn my opinion to trade you must have a PLAN, a PROCESS to achieve trading longevity. This PROCESS works for me and although I can still get caught out at times, my PROCESS has saved me more times than I would like to mention.\r\n\r\nI am a serious longer-term trader that wants to be about in 10 years’ time and maybe even beyond that horizon. Without a PLAN / PROCESS I cannot see how you would achieve trading longevity.\r\n\r\n&nbsp;\r\n<ol start=\"6\">\r\n 	<li><strong> CLOSING THOUGHTS:</strong></li>\r\n</ol>\r\nNothing more to add here, I have said enough except,\r\n\r\nAs usual…\r\n\r\nAlways remember longevity in Forex trading can only be achieved through trading with good RISK and MONEY MANAGEMENT, and above all set your position sizes in accordance with the size of your account and allow for some flexibility.\r\n\r\nTake care, have a great trading week.\r\n\r\nScott Pickering\r\nThe Pip Accumulator\r\nTwitter: @pipaccumulator\r\n<a href=\"http://weeklyfxdrivethru.com/disclaimer/\">http://weeklyfxdrivethru.com/disclaimer/</a>\r\n\r\nBLOG VERSION: #238 FREE NEWSLETTER\r\nDATE: 9th April 2017.\r\n\r\n&nbsp;', 'MY PROCESS (OF TRADING)', '', 'inherit', 'closed', 'closed', '', '9391-revision-v1', '', '', '2017-04-08 05:48:52', '2017-04-08 10:48:52', '', 9391, 'https://weeklyfxdrivethru.com/9391-revision-v1/', 0, 'revision', '', 0),
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(9441, 1, '2017-04-14 19:15:30', '2017-04-15 00:15:30', '<ol>\r\n 	<li><strong>INTRODUCTION:</strong></li>\r\n</ol>\r\nI am at the moment in the middle of packing, preparing for a house move from Quebec to Nova Scotia, which, is followed very quickly with a trip to New Zealand and Australia. In the full knowledge that over the next two months, I will be away from my office and screens for long periods at a time, I have been setting up my longer-term (POSITION) trades to reflect this. To accommodate our house move, this blog is the last one for two weeks, the next “DRIVE THRU” is scheduled for release on the 14th May.\r\n\r\nLast week and this coming week are shorter trading weeks to cover the Easter holidays, so trading volumes will be lower as traders look to add vacation days either side of the public holidays to take full advantage of time away from the office. This is a great time to conduct full chart reviews and analysis and, for me, knowing that I will be moving and traveling it allowed me time to build up a book of potential LIMIT ORDERS to add to my core positions.\r\n\r\nWhen will I learn? I have been writing and tweeting about the loose cannon “TRUMP” with his twitter account, stating be ready for the unexpected and trade nimble. Last Wednesday, my wife and I had a few action items to complete ahead of our house move. I left the house with my open trades in great shape. I was tempted to bank $$$ and take pips, but made the call that momentum and trends were in play and decided to review the open positions based upon Wednesday’s closing candles.\r\n\r\nFFS; TRUMP does it again. He walks back another key campaign promise by not declaring CHINA a currency manipulator, and jawbones the USD lower in a WSJ interview / article.\r\n\r\nThe result was the DXY fell from basically 101.00 down to just sub 100.00. Five limit orders triggered and my trading book inverted. Basically, I was looking at a sea of “red numbers” when returning home.\r\n\r\nI tweeted to subscribers that I expected pullbacks to occur through the following Asian and European sessions on Thursday. That did not happen to the extent that I had thought, but the New York session did the trick and I decided given the heightened geopolitical risk going into the Easter weekend to remove trades.\r\n\r\nWhilst, I did not really want to remove tiny profitable trades off the table, with what had happened the previous day and with warplanes in the sky and the fleet in the China Sea, to reduce RISK seemed sensible.  I took about 100 pips off the table in profits. It really is a grab ‘n’ go market at times.\r\n\r\nThroughout this entire market move, there appeared to be very few traders on twitter admitting to having suffered on this news event. Was I the only poor sod long the USD at that time?\r\n\r\nLooking at twitter it appears so… do I need to spell it out again about twitter?\r\n\r\nMoving on and back to “THE DONALD”\r\n\r\nHis dictatorship style must be pissing off his cabinet, he undermines Rex Tillerson and now by saying that China is NOT a currency manipulator he undermines and steals away the thunder from Steven Mnuchin’s treasury office review and report on Easter Monday about currency manipulation. This makes TRUMP himself responsible in a way for a LEAK of an official document ahead of its due date. I know he is the President and all that… but lead by fecking example. Keep it in your pants for God’s sake.\r\n\r\n<strong>FFS… “POT KETTLE BLACK, EGO, HAIRSPRAY, </strong><strong>TWEETS &amp; FLIP FLOPPING”</strong>\r\n\r\nThen in that same interview TRUMP jawboned the USD lower (that was the move talked about above), on the back of “people think I’m doing a great job and the USD has strengthened as a result but it’s too strong because of the confidence they have in me, it should be lower”.\r\n\r\nFFS… What a load of bollocks.\r\n\r\nTRUMP’S first 100 days would have been nothing short of a colossal F**K UP so far had he not carried out a missile strike on Syria and unloaded the MOAB (“Mother of All Bombs” on Afghanistan). The gun lobbyists and other far right sections of US society must be loving this. It’s like an episode of “Deadwood” gun-ho politics from the wild west in 2017.\r\n\r\nThe attacks are a distraction from the many main events, such as “THE DONALD” simply cannot figure out how to deal with career politicians. So, he’s not that smart, just a huge ego and there are still no “great deals”. Every campaign promise made with such confidence has so far been walked back. He is “flip- flopping” on the fundamentals he was elected for in his manifesto. So much for draining the swamp he is being consumed by the very aspect of D.C. he stated unequivocally that he would fix.\r\n\r\nObamacare; the repeal / replacement call it what you want, was an absolute failed dictatorship approach and the Republican party needs to look in the mirror and question their professionalism. After 8 years in the wings with time to prepare and given it was a front and centre policy for the election its failure to pass shows how poor U.S. politicians are. There are simply no excuses.\r\n<p style=\"text-align: center;\">Where is his wall?\r\nWhere are the trade deals?\r\nWhat about taxes?\r\nWhat about all the infrastructure promises?\r\nWhat about the quick fix on repatriation of offshore US funds?</p>\r\nI may be a little unfair with the above. Yes, I acknowledge that TRUMP alone won the election for the Republicans and he did it without a party machine behind him. It makes the Hillary Clinton failure even more catastrophic and shows that the Democrats were out of touch. The elitist approach taken by Hillary was doomed from day one, but like most leaders she surrounded herself with “YES” people.\r\n\r\nHowever, the first 100 days: So far; It’s just phony, the US voters have been seriously duped by TRUMP; It’s just ego and hairspray.\r\n\r\nFinally, on “THE DONALD”\r\n\r\nLet me get this off my chest….\r\n\r\nJawboning is a form of currency manipulation, just as Quantitative Easing (QE) is as well. The US was and still is in my opinion a CURRENCY MANIPULATOR and in more recent history was the first to promote manipulation following the 2008-9 Financial crash.\r\n\r\nRight now, I feel that the TRUMP administration so far is …\r\n\r\n<strong>NOTHING MORE THAN\r\n”POT KETTLE BLACK, EGO, HAIRSPRAY, </strong><strong>TWEETS &amp; FLIP FLOPPING”</strong>\r\n\r\nI feel much better after that…\r\n\r\nLast week’s economic data was centered around the BOC interest rate decision and the Aussie Jobs, with the USD inflation and sentiment numbers.\r\n\r\nStephen Poloz at the BOC was basically a yawn fest. He spoke about improvements and the housing issues across Canada. He will do a Donald, and walk this back next time around. Watch this space.\r\n\r\nAussie jobs were a blowout; incredible numbers: - 61,000 new jobs versus the forecast of 21,000. The full-time / part-time ratios were impressive.\r\n\r\nWith regards to the US consumer confidence numbers; the Preliminary reading was at 98.00. This is big number and despite everything that I have observed and the media have played down, the positive TRUMP EFFECT feeling in the U.S. remains intact. Confidence in TRUMP and confidence in the U.S. economy is high. It was 98.6 in January after the Presidential inauguration and although it dipped for a bit, it is back up again.\r\n\r\nThe inflation aspect is still looking to be around the 2.5% mark in 2018. This number will fuel a whole host of issues regarding FED policy and TRUMP’S desire for low rates. The cynic in me says he wants low borrowing costs not as much for America but for his family business interests, which he longer has an interest in… yeah right, my arse!\r\n\r\nThen on Good Friday we had weak CPi Retail Sales data which basically shows from a macro and some might say micro level that the consumer is pulling back…. uncertain.\r\n\r\nContrasting U.S. data. One month’s data will not reverse FED policy but it clearly shows how difficult this stuff is to trend from a Central bank perspective.\r\n\r\nMoving on…\r\n\r\nTHE WEEKLY FX DRIVE THRU – LIVE webinars.\r\n\r\n#10 this Monday 17th April at 5:30PM.\r\n<ul>\r\n 	<li>To attend live - you need Google Chrome as a browser.</li>\r\n 	<li>You cannot view on smart phones or tablets, only Laptops and Desktops.</li>\r\n</ul>\r\nThe “LIVE WEBINAR” link is below: -\r\n\r\n<a href=\"http://bit.ly/drivethru-live\">http://bit.ly/drivethru-live</a>\r\n\r\nIf you cannot listen live you can check out my You Tube channel,\r\n<strong><em>Scott Pickering</em></strong> <strong><em>Weekly FX Drive Thru</em></strong> for a freshly posted copy of the webinar, usually, within a couple of hours of its completion.\r\n\r\nHere is the link for my you tube channel, when I get to 100 subscribers (if I get there) I can have my own personalized shortened link. If you like the style of my webinar, please subscribe. The benefits are that as soon as a new webinar is posted you are emailed.: -\r\n\r\n<a href=\"https://www.youtube.com/channel/UCV-9VDnNkHjTPBzKqLqCGJw/videos\">https://www.youtube.com/channel/UCV-9VDnNkHjTPBzKqLqCGJw/videos</a>\r\n\r\nAlmost there…\r\n\r\nIf you would like to be in the monthly draw to win a “FREE 10-WEEK SUBSCRIPTION” to the PREMIUM SERVICE, valued at CAD$1,000.00, all you have to do is subscribe to receive this FREE NEWSLETTER on my website <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a>  On my welcome page just below my cube logo is where you complete your subscription.\r\n\r\n<strong> </strong>\r\n<ol start=\"2\">\r\n 	<li><strong> THE FX MARKET PLACE – LOOKING FORWARD:</strong></li>\r\n</ol>\r\n<u>ECONOMIC DATA RELEASES:</u>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/ECON-DATA-16042017.png\"><img class=\"aligncenter size-large wp-image-9427\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/ECON-DATA-16042017-1024x749.png\" alt=\"\" width=\"1024\" height=\"749\" /></a>\r\n\r\n&nbsp;\r\n\r\n<u>MY THOUGHTS ON THE WEEK AHEAD:</u>\r\n\r\nNothing much this week for me from Economic Data releases, however, I think that geopolitical news will continue to dominate proceedings: -\r\n<ol>\r\n 	<li>GBP: Retail Sales numbers are released on Friday. This is always going to be an interesting number to follow given the BREXIT process. The PMi numbers were largely disappointing; two out of three were poor.\r\n\r\nConsumer confidence and sales numbers are important to the UK especially at this time, given the inflation issues that are creeping into the UK economy. How will this inflation effect retail sales?</li>\r\n 	<li>OPEC: WE have a two-day OPEC meeting that concludes on the Saturday of next weekend.\r\n\r\nI know that one should be serious about OPEC but I do find the “CARTEL” similar to a bunch of misfits allegedly united. If history repeats itself the production cut will fall off the page the longer they try to keep it in place.\r\n\r\nI maintain my view expressed, almost every week, as I review WTi on the WEEKLY FX DRIVE THRU – LIVE WEBINAR, which is, that as soon as OIL hits $60.00 a barrel should it ever get there again, US Shale producers will be leaping back into the market in numbers. OIL is a pure and very simple supply and demand commodity.</li>\r\n</ol>\r\nObviously, the BREXIT news will be on the wires at ad-hoc times. I am however, expecting this to calm down as the 27 members of the EU do not meet to formally discuss BREXIT until the end of April and negotiations do not start until the end of May. Nevertheless, we still should be on our toes.\r\n\r\n<u>USD MAJORS – “IMMEDIATE” SUPPORT &amp; RESISTANCE:</u>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/TCHART-16042017.png\"><img class=\"aligncenter size-large wp-image-9426\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/TCHART-16042017-1024x857.png\" alt=\"\" width=\"1024\" height=\"857\" /></a>\r\n\r\n&nbsp;\r\n\r\nThe charts below contain commentary (my thoughts and views), these are the USD major charts that are reflected in the spreadsheet above.\r\n<strong>EUR/USD:</strong>\r\n\r\n<strong><a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/EURUSD-DAILY-16042017.png\"><img class=\"aligncenter size-large wp-image-9429\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/EURUSD-DAILY-16042017-1024x472.png\" alt=\"\" width=\"1024\" height=\"472\" /></a> </strong>\r\n\r\n<strong> </strong>\r\n\r\n<strong>GBP/USD:</strong>\r\n\r\n<strong> <a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/GBPUSD-DAILY-16042017.png\"><img class=\"aligncenter size-large wp-image-9431\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/GBPUSD-DAILY-16042017-1024x472.png\" alt=\"\" width=\"1024\" height=\"472\" /></a></strong>\r\n\r\n<strong> </strong>\r\n\r\n<strong>AUD/USD:</strong>\r\n\r\n<strong><a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/AUDUSD-DAILY-16042017.png\"><img class=\"aligncenter size-large wp-image-9428\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/AUDUSD-DAILY-16042017-1024x472.png\" alt=\"\" width=\"1024\" height=\"472\" /></a> </strong>\r\n\r\n<strong> </strong>\r\n\r\n<strong>NZD/USD:</strong>\r\n\r\n<strong> <a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/NZDUSD-DAILY-16042017.png\"><img class=\"aligncenter size-large wp-image-9432\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/NZDUSD-DAILY-16042017-1024x472.png\" alt=\"\" width=\"1024\" height=\"472\" /></a></strong>\r\n\r\n<strong> </strong>\r\n\r\n<strong>USD/CAD:</strong>\r\n\r\n<strong> <a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/USDCAD-DAILY-16042017.png\"><img class=\"aligncenter size-large wp-image-9434\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/USDCAD-DAILY-16042017-1024x472.png\" alt=\"\" width=\"1024\" height=\"472\" /></a></strong>\r\n\r\n<strong> </strong>\r\n\r\n<strong>USD/CHF:</strong>\r\n\r\n<strong> <a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/USDCHF-DAILY-16042017.png\"><img class=\"aligncenter size-large wp-image-9435\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/USDCHF-DAILY-16042017-1024x472.png\" alt=\"\" width=\"1024\" height=\"472\" /></a></strong>\r\n\r\n<strong> </strong>\r\n\r\n<strong>USD/JPY:</strong>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/USDJPY-DAILY-16042017.png\"><img class=\"aligncenter size-large wp-image-9436\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/USDJPY-DAILY-16042017-1024x472.png\" alt=\"\" width=\"1024\" height=\"472\" /></a>\r\n\r\n<strong> </strong>\r\n<ol start=\"3\">\r\n 	<li><strong> THE PREMIUM SERVICE:</strong></li>\r\n</ol>\r\n<u>WHAT IS THE PREMIUM SERVICE?</u>\r\n\r\nThe PREMIUM SERVICE is a subscriber based Forex support service offering not just trade set-ups, but a bunch of different support services that differentiates the PREMIUM SERVICE from other providers, my competitors, that operate in the same space.\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 PREMIUM SERVICE tab.\r\n\r\nFurther information can be found by clicking TESTIMONIALS, PART-TIME TRADERS and FX PROMOTIONS tabs. To subscribe to THE PREMIUM SERVICE, you will require a valid credit card.\r\n\r\n<u> </u>\r\n\r\n<u>PREMIUM SERVICE PERFORMANCE YEAR TO DATE:</u>\r\n\r\nMONTH TO DATE: +520 pips\r\nYEAR TO DATE:      +1,993 pips\r\n\r\nI am still a little way behind my target. But trading is gathering momentum once again and I am still very confident of achieving my year-end target of 10,000 net profitable pips.\r\n\r\n<u>PREMIUM SERVICE –  SUBSCRIBER PROMOTION:</u>\r\n\r\n<strong><u>“DOUBLE IT UP”</u></strong>\r\n\r\nI usually run a PREMIUM SERVICE subscriber promotion at the end of the old year /start of a new year.\r\n\r\nBecause I knew that this year I would be moving home and traveling in Q2, I deliberately decided to wait, to launch a promotion around that time.\r\n\r\nThis is the biggest and I believe the best subscriber promotion that I have ever offered.\r\n\r\nWhat is <strong>“DOUBLE IT UP”</strong> all about…\r\n\r\nBasically, from now until June 30<sup>th,</sup> 2017 anyone who subscribes to the PREMIUM SERVICE through my “SUBSCRIBE HERE” tab at the top of my welcome page will have their subscription period doubled at no extra cost.\r\n\r\nIn addition, all subscriptions regardless of the date of subscribing will not start until June 30th 2017.\r\n\r\nThis means that from the day of joining the PREMIUM SERVICE you will have 100% access. This could give you up to an additional 12 weeks of membership to the PREMIUM SERVICE depending upon the date you subscribe.\r\n\r\nThis 12-week period covers the period that I am moving home and traveling, and therefore there may be days at a time with zero activity, and there will be some because I will be out of coverage and simply on vacation, but it’s all “FREE” in any case, so whatever happens, it is all a bonus anyhow as your subscription period will officially commence June 30th 2017.\r\n\r\nConfirmation of the <strong>“DOUBLE IT UP” </strong>will be contained in the “welcome on board documents” the accompanies your subscription confirmation.\r\n\r\nThis is the best and most generous promotion that I have ever offered since starting the PREMIUM SERVICE and I hope that many of you take advantage.\r\n\r\n<strong><u>IMPORTANT TO NOTE:</u></strong> Joining the PREMIUM SERVICE <strong><u>now</u></strong> on a 10-week subscription gives you a 20-week subscription period with THE DOUBLE IT UP promotion. This basically covers 2017 in total when you allow for the summer break and the delayed promotional start of your subscription period. At CAD$1,000 this is a great opportunity and fantastic value.\r\n\r\nI add below my “DRIVE THRU blog / TRADING date charts for 2017, 2018 and 2019.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/03/BLOG-DATES-2017-2019.png\"><img class=\"aligncenter size-large wp-image-9300\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/03/BLOG-DATES-2017-2019-1024x621.png\" alt=\"\" width=\"1024\" height=\"621\" /></a>\r\n\r\nPLUS:\r\n\r\nIf you would like to know a little more about THE PREMIUM SERVICE please feel free to watch the following 40-minute video via the link below:\r\n\r\n<a href=\"http://bit.ly/PremServiceQ217\">http://bit.ly/PremServiceQ217</a>\r\n\r\nPLEASE NOTE: the above video is best viewed using a Google Chrome browser.\r\n\r\n<strong>\r\n</strong>\r\n<ol start=\"4\">\r\n 	<li><strong> PREMIUM SERVICE – SUBSCRIBER CONTENT AREA:</strong></li>\r\n</ol>\r\n<u>TRADING REVIEW:</u>\r\n\r\nSo much for my TRADING PLAN being able to continue for a second week. The WSJ journal saw to that. Rather than bank about 150 pips and some nice $$$, 5 new limit order trades triggered and spiked further and the previous positive trades all turned negative. Those trades which were just bouncing around acceptable negative levels pushed further away from my entry levels and in one fell swoop I had gone from a POSITION trader to a RELIGIOUS trader.\r\n\r\nAfter more hasty analysis, I decided to live with the negative positions a little longer on the basis that many trades were when things settle down hedged trades, although, immediately after the TRUMPANTICS it was a little hard to see the hedges!!\r\n\r\nAs mentioned earlier deciding that geopolitical RISK was high, it made sense with a very long low liquidity weekend, to take $$$ and pips off the table. So, I removed a bunch of trades that were in the black.\r\n\r\nBack to the start of the week…\r\n\r\nWhat really bugged me from the start of the week was that two trades, EUR/JPY and NZD/JPY shorts failed to trigger by about 20-30 pips. Both these pairs dropped dramatically during the week and a good +250 pips was lost. Annoying and frustrating but this happens.\r\n\r\nThe market is difficult. I know of several traders who got long GBP cross rates only to have them all blow up in their faces in a matter of minutes. Just when you believe that there is a trend or a directional trade the levels fail and the planned trade is sidelined or just trashed.\r\n\r\nAs I have stated before, whilst I am not 100% happy at the moment with overall trading results I still believe that I am set up the right way to capitalize down the line. It is a waiting game and one should be patient. Patience is critical to success in trading, without patience you will never achieve longevity.\r\n\r\nI dread to think if I was to add up all the hours spent in front of machines, waiting, watching patiently doing nothing, how many hours a week, month or year would the total be?\r\n\r\nIn the week, a net +142 pips were added to my totals, which was, not brilliant by any stretch but it was still a positive n umber.\r\n\r\n&nbsp;\r\n\r\n<u>CORE TRADES:</u>\r\n<ol>\r\n 	<li>EUR/USD and USD/CHF: - I still have capacity for more trades. I removed a couple of trades very cheaply on Thursday last week. I have already started adding them back and will add more this week.</li>\r\n 	<li>GBP/USD: - Nothing has really changed in my opinion, I am still looking for value to add again.</li>\r\n 	<li>EUR/GBP: - Nothing has changed for me with this pair.\r\n\r\nI am still somewhat nervous being short, but believe the EUROZONE risks outweigh those of the UK moving forward. My thoughts are that both the EUR &amp; GBP will start to react together moving forward with BREXIT issues and the EUR/GBP will be caught in the crossfire.</li>\r\n 	<li>NZD/USD, AUD/NZD and EUR/NZD: - These are all trades based on NZD weakness. I have made no secret in my belief that fair value for the NZD/USD is closer to 0.6000. This is about right given that the AUD/USD is valued at 0.6500 according to the NAB.\r\n\r\nI will keep adding trades moving forward.</li>\r\n 	<li>AUD/USD: - I am looking to add several more positions with the CORE POSITION moving forward.</li>\r\n</ol>\r\n<u>PREMIUM SERVICE - TRADES REVIEW<strong>:</strong></u>\r\n\r\nCURRENT PREMIUM SERVICE - LIVE TRADES:\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/LIVE-TRADES-14042017.png\"><img class=\"aligncenter size-large wp-image-9421\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/LIVE-TRADES-14042017-816x1024.png\" alt=\"\" width=\"816\" height=\"1024\" /></a>\r\nCURRENT PREMIUM SERVICE – LIMIT ORDER TRADES:\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/LIMIT-ORDERS-14042017.png\"><img class=\"aligncenter size-large wp-image-9420\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/LIMIT-ORDERS-14042017-907x1024.png\" alt=\"\" width=\"907\" height=\"1024\" /></a>\r\n\r\n<strong> </strong>\r\n\r\n<strong> </strong>\r\n<ol start=\"5\">\r\n 	<li><strong> THE SOAPBOX:</strong></li>\r\n</ol>\r\n&nbsp;\r\n\r\n<strong>FRENCH POLITICS and THE FED… MOVING FORWARD</strong><strong> </strong>\r\n\r\nYou would probably think that from my commentary in the introduction I would be over my ranting and positioning on my soapbox?\r\n\r\nThink again; as you know I love politics and I believe that politics and forex are so closely inter-twinned, the push ‘n pull relationship is hard to break apart and dissect. At times the FX BLOG can be very POLITICAL in places.\r\n\r\nThe title FRENCH POLITICS and THE FED is a little misleading. It is my blog, my thoughts and opinions so I can collate titles and themes as I want to.\r\n\r\nWhere to start: -\r\n\r\nFRENCH POLITICS:\r\n\r\nThe single currency has been under tremendous down side pressure in the past two weeks. All rallies have been selling opportunities and have been well capped.\r\n\r\nTechnical traders are both confused and baffled at the same time as to why the market can see no value in the EUR from spikes and potential sentiment changes.\r\n\r\nFundamentals will trump technicals and we are in a news driven market at the moment where geopolitical news trumps everything. I would rather trust fundamentals in the current market above all else.\r\n\r\nThe French Presidential election has opened a new chapter and the balance of persuasion is shifting. Let me elaborate on my thoughts as to why those pen pushing, desk sucking, jotter blotters in Brussels have twitchy bottoms.\r\n\r\nUp until about three weeks ago, the race for the next President of France was by all accounts a done deal. The pundits had done all their calculations and basically it was most likely to be either a Le Pen or Macron victory in the first round of voting with both going through to the second round with Macron beating Le Pen by a hefty margin.\r\n\r\nIt has been a tame French Presidential election so far, with only the odd scandal, no stories involving the front runners with a sex scandal involving a wet lettuce, whipped cream and an egg whisk. All was relatively calm for a French election.\r\n\r\nEnter, the far-left candidate Jean-Luc Melenchon.\r\n\r\nFrance has always been a sucker for unionism and being bolshie, Holy Mother of God all the poor French laws that once existed in France, now repealed, are still alive and thriving here in Quebec!! There is a state of “Non-Satiety” here in Quebec, no let up at all.\r\n\r\nBack to my point…\r\n\r\nThe latest election poll from Ipsos-Sterna for newspaper Le Monde shows the following: -\r\n\r\nApril 23rd, 2017 first round voting: -\r\n\r\nEmmanuel Macron (Centrist Party):         22%\r\nMarine Le Pen (French National Front): 22%\r\nJean-Luc Melenchon (Far Left):               20%\r\nFrancois Fillon (Conservative):                 19%\r\n\r\n(Second round voting is on May 7th, 2017)\r\n\r\nAs I said, I love politics, and the above positions say several things to me.\r\n<ol>\r\n 	<li>If this poll is accurate. This election is too close to call.</li>\r\n 	<li>How on earth can you say with any degree of confidence who will progress into the second round?</li>\r\n</ol>\r\nThe question that leaps off the page at me is the following, and, I think that this is one major reason why the single currency is un-ceremonially dumped on spikes.\r\n\r\nDo you think that Far Left and Far Right voters would unite in a second round of voting against the mainstream thinking?\r\n\r\nIf so… there is a huge chance that a populist candidate could be victorious and then its bye bye Brussels, bye bye EUR and probably bye bye the EUROPEAN UNION.\r\n\r\nYou can see from the chart below that the EUR/USD is sold aggressively into the 1.0665 – 1.0690 level. The extended wicks back up my thoughts of the market seeing no value as there is no following through.\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/EURUSD-DAILY-CHART-FOR-BLOG-16042017.png\"><img class=\"aligncenter size-large wp-image-9430\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/EURUSD-DAILY-CHART-FOR-BLOG-16042017-1024x495.png\" alt=\"\" width=\"1024\" height=\"495\" /></a>\r\n\r\n&nbsp;\r\n\r\nTHE FED:\r\n\r\nAbsolutely no connection to the FRENCH POLITICAL scene but just as intriguing.\r\n\r\nI am going to re-visit this in detail, I just have to.\r\n\r\nThe following is all my theory based upon the re-appointments due with the FED.\r\n\r\nAt this moment in time I believe that TRUMP is going to try to remove the FED’S independence. I see TRUMP as a currency manipulator himself and it would not surprise me to see him exert control on U.S. interest rates moving forward.\r\n\r\nI believe he will approach the FED in a stealth manner / style of approach.\r\n\r\nIn the next 12 months. Both Janet Yellen, Fed Chair and, Stanley Fischer, Deputy Chairman plus 3 board members need to be replaced as there are vacancies, plus we have the usual round–robin of voting to non-voting members being shuffled.\r\n\r\n“THE DONALD” believes he is so popular and that to fuel his popularity further, keeping a lid on interest rates would serve him better based upon his future policies that he hopes to push through.\r\n\r\nThe FED who are trying to normalize monetary policy are screwing with his plans.\r\n\r\nHe has the chance to appoint nothing but “DOVES” to the board in all capacities and effectively “cook the books”, to fiddle policy moving forward to meet his administrations objectives.\r\n\r\nHe would make it his business to have a hold over those “newbies” appointed. It’s what he does.\r\n\r\nTherefore, with White House influence “THE DONNALD” will become in my opinion the biggest currency manipulator of all time\r\n\r\nCould this happen?\r\n\r\nDoes he just need to sign an executive order to make it so?\r\n\r\nWill he drive this thru a Republican owned congress?\r\n\r\nFrom a trading perspective, we must be ready for something here in my opinion. My entire year is based a huge amount upon central bank monetary policy divergence. Instead… it could be based on a new race to the bottom.\r\n\r\nThink about that over the next two weeks whilst I am moving house….\r\n\r\n&nbsp;\r\n<ol start=\"6\">\r\n 	<li><strong> CLOSING THOUGHTS:</strong></li>\r\n</ol>\r\nNothing more to add here, I have said enough except,\r\n\r\nAs usual…\r\n\r\nAlways remember longevity in Forex trading can only be achieved through trading with good RISK and MONEY MANAGEMENT, and above all set your position sizes in accordance with the size of your account and allow for some flexibility.\r\n\r\nTake care, have a great trading week and see you next on May 14th, 2017\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: #135 THE PREMIUM SERVICE\r\nDATE: 16th April 2017', 'FOR GOD’S SAKE, THIS IS NOTHING MORE THAN ”POT KETTLE BLACK, EGO, HAIRSPRAY, TWEETS & FLIP FLOPPING”', '', 'publish', 'open', 'closed', '', 'gods-sake-nothing-pot-kettle-black-ego-hairspray-tweets-flip-flopping', '', '', '2017-04-14 19:15:30', '2017-04-15 00:15:30', '', 0, 'https://weeklyfxdrivethru.com/?post_type=member_posts&#038;p=9441', 0, 'member_posts', '', 0);
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(9442, 1, '2017-04-14 19:15:30', '2017-04-15 00:15:30', '<ol>\r\n 	<li><strong>INTRODUCTION:</strong></li>\r\n</ol>\r\nI am at the moment in the middle of packing, preparing for a house move from Quebec to Nova Scotia, which, is followed very quickly with a trip to New Zealand and Australia. In the full knowledge that over the next two months, I will be away from my office and screens for long periods at a time, I have been setting up my longer-term (POSITION) trades to reflect this. To accommodate our house move, this blog is the last one for two weeks, the next “DRIVE THRU” is scheduled for release on the 14th May.\r\n\r\nLast week and this coming week are shorter trading weeks to cover the Easter holidays, so trading volumes will be lower as traders look to add vacation days either side of the public holidays to take full advantage of time away from the office. This is a great time to conduct full chart reviews and analysis and, for me, knowing that I will be moving and traveling it allowed me time to build up a book of potential LIMIT ORDERS to add to my core positions.\r\n\r\nWhen will I learn? I have been writing and tweeting about the loose cannon “TRUMP” with his twitter account, stating be ready for the unexpected and trade nimble. Last Wednesday, my wife and I had a few action items to complete ahead of our house move. I left the house with my open trades in great shape. I was tempted to bank $$$ and take pips, but made the call that momentum and trends were in play and decided to review the open positions based upon Wednesday’s closing candles.\r\n\r\nFFS; TRUMP does it again. He walks back another key campaign promise by not declaring CHINA a currency manipulator, and jawbones the USD lower in a WSJ interview / article.\r\n\r\nThe result was the DXY fell from basically 101.00 down to just sub 100.00. Five limit orders triggered and my trading book inverted. Basically, I was looking at a sea of “red numbers” when returning home.\r\n\r\nI tweeted to subscribers that I expected pullbacks to occur through the following Asian and European sessions on Thursday. That did not happen to the extent that I had thought, but the New York session did the trick and I decided given the heightened geopolitical risk going into the Easter weekend to remove trades.\r\n\r\nWhilst, I did not really want to remove tiny profitable trades off the table, with what had happened the previous day and with warplanes in the sky and the fleet in the China Sea, to reduce RISK seemed sensible.  I took about 100 pips off the table in profits. It really is a grab ‘n’ go market at times.\r\n\r\nThroughout this entire market move, there appeared to be very few traders on twitter admitting to having suffered on this news event. Was I the only poor sod long the USD at that time?\r\n\r\nLooking at twitter it appears so… do I need to spell it out again about twitter?\r\n\r\nMoving on and back to “THE DONALD”\r\n\r\nHis dictatorship style must be pissing off his cabinet, he undermines Rex Tillerson and now by saying that China is NOT a currency manipulator he undermines and steals away the thunder from Steven Mnuchin’s treasury office review and report on Easter Monday about currency manipulation. This makes TRUMP himself responsible in a way for a LEAK of an official document ahead of its due date. I know he is the President and all that… but lead by fecking example. Keep it in your pants for God’s sake.\r\n\r\n<strong>FFS… “POT KETTLE BLACK, EGO, HAIRSPRAY, </strong><strong>TWEETS &amp; FLIP FLOPPING”</strong>\r\n\r\nThen in that same interview TRUMP jawboned the USD lower (that was the move talked about above), on the back of “people think I’m doing a great job and the USD has strengthened as a result but it’s too strong because of the confidence they have in me, it should be lower”.\r\n\r\nFFS… What a load of bollocks.\r\n\r\nTRUMP’S first 100 days would have been nothing short of a colossal F**K UP so far had he not carried out a missile strike on Syria and unloaded the MOAB (“Mother of All Bombs” on Afghanistan). The gun lobbyists and other far right sections of US society must be loving this. It’s like an episode of “Deadwood” gun-ho politics from the wild west in 2017.\r\n\r\nThe attacks are a distraction from the many main events, such as “THE DONALD” simply cannot figure out how to deal with career politicians. So, he’s not that smart, just a huge ego and there are still no “great deals”. Every campaign promise made with such confidence has so far been walked back. He is “flip- flopping” on the fundamentals he was elected for in his manifesto. So much for draining the swamp he is being consumed by the very aspect of D.C. he stated unequivocally that he would fix.\r\n\r\nObamacare; the repeal / replacement call it what you want, was an absolute failed dictatorship approach and the Republican party needs to look in the mirror and question their professionalism. After 8 years in the wings with time to prepare and given it was a front and centre policy for the election its failure to pass shows how poor U.S. politicians are. There are simply no excuses.\r\n<p style=\"text-align: center;\">Where is his wall?\r\nWhere are the trade deals?\r\nWhat about taxes?\r\nWhat about all the infrastructure promises?\r\nWhat about the quick fix on repatriation of offshore US funds?</p>\r\nI may be a little unfair with the above. Yes, I acknowledge that TRUMP alone won the election for the Republicans and he did it without a party machine behind him. It makes the Hillary Clinton failure even more catastrophic and shows that the Democrats were out of touch. The elitist approach taken by Hillary was doomed from day one, but like most leaders she surrounded herself with “YES” people.\r\n\r\nHowever, the first 100 days: So far; It’s just phony, the US voters have been seriously duped by TRUMP; It’s just ego and hairspray.\r\n\r\nFinally, on “THE DONALD”\r\n\r\nLet me get this off my chest….\r\n\r\nJawboning is a form of currency manipulation, just as Quantitative Easing (QE) is as well. The US was and still is in my opinion a CURRENCY MANIPULATOR and in more recent history was the first to promote manipulation following the 2008-9 Financial crash.\r\n\r\nRight now, I feel that the TRUMP administration so far is …\r\n\r\n<strong>NOTHING MORE THAN\r\n”POT KETTLE BLACK, EGO, HAIRSPRAY, </strong><strong>TWEETS &amp; FLIP FLOPPING”</strong>\r\n\r\nI feel much better after that…\r\n\r\nLast week’s economic data was centered around the BOC interest rate decision and the Aussie Jobs, with the USD inflation and sentiment numbers.\r\n\r\nStephen Poloz at the BOC was basically a yawn fest. He spoke about improvements and the housing issues across Canada. He will do a Donald, and walk this back next time around. Watch this space.\r\n\r\nAussie jobs were a blowout; incredible numbers: - 61,000 new jobs versus the forecast of 21,000. The full-time / part-time ratios were impressive.\r\n\r\nWith regards to the US consumer confidence numbers; the Preliminary reading was at 98.00. This is big number and despite everything that I have observed and the media have played down, the positive TRUMP EFFECT feeling in the U.S. remains intact. Confidence in TRUMP and confidence in the U.S. economy is high. It was 98.6 in January after the Presidential inauguration and although it dipped for a bit, it is back up again.\r\n\r\nThe inflation aspect is still looking to be around the 2.5% mark in 2018. This number will fuel a whole host of issues regarding FED policy and TRUMP’S desire for low rates. The cynic in me says he wants low borrowing costs not as much for America but for his family business interests, which he longer has an interest in… yeah right, my arse!\r\n\r\nThen on Good Friday we had weak CPi Retail Sales data which basically shows from a macro and some might say micro level that the consumer is pulling back…. uncertain.\r\n\r\nContrasting U.S. data. One month’s data will not reverse FED policy but it clearly shows how difficult this stuff is to trend from a Central bank perspective.\r\n\r\nMoving on…\r\n\r\nTHE WEEKLY FX DRIVE THRU – LIVE webinars.\r\n\r\n#10 this Monday 17th April at 5:30PM.\r\n<ul>\r\n 	<li>To attend live - you need Google Chrome as a browser.</li>\r\n 	<li>You cannot view on smart phones or tablets, only Laptops and Desktops.</li>\r\n</ul>\r\nThe “LIVE WEBINAR” link is below: -\r\n\r\n<a href=\"http://bit.ly/drivethru-live\">http://bit.ly/drivethru-live</a>\r\n\r\nIf you cannot listen live you can check out my You Tube channel,\r\n<strong><em>Scott Pickering</em></strong> <strong><em>Weekly FX Drive Thru</em></strong> for a freshly posted copy of the webinar, usually, within a couple of hours of its completion.\r\n\r\nHere is the link for my you tube channel, when I get to 100 subscribers (if I get there) I can have my own personalized shortened link. If you like the style of my webinar, please subscribe. The benefits are that as soon as a new webinar is posted you are emailed.: -\r\n\r\n<a href=\"https://www.youtube.com/channel/UCV-9VDnNkHjTPBzKqLqCGJw/videos\">https://www.youtube.com/channel/UCV-9VDnNkHjTPBzKqLqCGJw/videos</a>\r\n\r\nAlmost there…\r\n\r\nIf you would like to be in the monthly draw to win a “FREE 10-WEEK SUBSCRIPTION” to the PREMIUM SERVICE, valued at CAD$1,000.00, all you have to do is subscribe to receive this FREE NEWSLETTER on my website <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a>  On my welcome page just below my cube logo is where you complete your subscription.\r\n\r\n<strong> </strong>\r\n<ol start=\"2\">\r\n 	<li><strong> THE FX MARKET PLACE – LOOKING FORWARD:</strong></li>\r\n</ol>\r\n<u>ECONOMIC DATA RELEASES:</u>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/ECON-DATA-16042017.png\"><img class=\"aligncenter size-large wp-image-9427\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/ECON-DATA-16042017-1024x749.png\" alt=\"\" width=\"1024\" height=\"749\" /></a>\r\n\r\n&nbsp;\r\n\r\n<u>MY THOUGHTS ON THE WEEK AHEAD:</u>\r\n\r\nNothing much this week for me from Economic Data releases, however, I think that geopolitical news will continue to dominate proceedings: -\r\n<ol>\r\n 	<li>GBP: Retail Sales numbers are released on Friday. This is always going to be an interesting number to follow given the BREXIT process. The PMi numbers were largely disappointing; two out of three were poor.\r\n\r\nConsumer confidence and sales numbers are important to the UK especially at this time, given the inflation issues that are creeping into the UK economy. How will this inflation effect retail sales?</li>\r\n 	<li>OPEC: WE have a two-day OPEC meeting that concludes on the Saturday of next weekend.\r\n\r\nI know that one should be serious about OPEC but I do find the “CARTEL” similar to a bunch of misfits allegedly united. If history repeats itself the production cut will fall off the page the longer they try to keep it in place.\r\n\r\nI maintain my view expressed, almost every week, as I review WTi on the WEEKLY FX DRIVE THRU – LIVE WEBINAR, which is, that as soon as OIL hits $60.00 a barrel should it ever get there again, US Shale producers will be leaping back into the market in numbers. OIL is a pure and very simple supply and demand commodity.</li>\r\n</ol>\r\nObviously, the BREXIT news will be on the wires at ad-hoc times. I am however, expecting this to calm down as the 27 members of the EU do not meet to formally discuss BREXIT until the end of April and negotiations do not start until the end of May. Nevertheless, we still should be on our toes.\r\n\r\n<u>USD MAJORS – “IMMEDIATE” SUPPORT &amp; RESISTANCE:</u>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/TCHART-16042017.png\"><img class=\"aligncenter size-large wp-image-9426\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/TCHART-16042017-1024x857.png\" alt=\"\" width=\"1024\" height=\"857\" /></a>\r\n\r\n&nbsp;\r\n\r\nThe charts below contain commentary (my thoughts and views), these are the USD major charts that are reflected in the spreadsheet above.\r\n<strong>EUR/USD:</strong>\r\n\r\n<strong><a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/EURUSD-DAILY-16042017.png\"><img class=\"aligncenter size-large wp-image-9429\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/EURUSD-DAILY-16042017-1024x472.png\" alt=\"\" width=\"1024\" height=\"472\" /></a> </strong>\r\n\r\n<strong> </strong>\r\n\r\n<strong>GBP/USD:</strong>\r\n\r\n<strong> <a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/GBPUSD-DAILY-16042017.png\"><img class=\"aligncenter size-large wp-image-9431\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/GBPUSD-DAILY-16042017-1024x472.png\" alt=\"\" width=\"1024\" height=\"472\" /></a></strong>\r\n\r\n<strong> </strong>\r\n\r\n<strong>AUD/USD:</strong>\r\n\r\n<strong><a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/AUDUSD-DAILY-16042017.png\"><img class=\"aligncenter size-large wp-image-9428\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/AUDUSD-DAILY-16042017-1024x472.png\" alt=\"\" width=\"1024\" height=\"472\" /></a> </strong>\r\n\r\n<strong> </strong>\r\n\r\n<strong>NZD/USD:</strong>\r\n\r\n<strong> <a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/NZDUSD-DAILY-16042017.png\"><img class=\"aligncenter size-large wp-image-9432\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/NZDUSD-DAILY-16042017-1024x472.png\" alt=\"\" width=\"1024\" height=\"472\" /></a></strong>\r\n\r\n<strong> </strong>\r\n\r\n<strong>USD/CAD:</strong>\r\n\r\n<strong> <a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/USDCAD-DAILY-16042017.png\"><img class=\"aligncenter size-large wp-image-9434\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/USDCAD-DAILY-16042017-1024x472.png\" alt=\"\" width=\"1024\" height=\"472\" /></a></strong>\r\n\r\n<strong> </strong>\r\n\r\n<strong>USD/CHF:</strong>\r\n\r\n<strong> <a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/USDCHF-DAILY-16042017.png\"><img class=\"aligncenter size-large wp-image-9435\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/USDCHF-DAILY-16042017-1024x472.png\" alt=\"\" width=\"1024\" height=\"472\" /></a></strong>\r\n\r\n<strong> </strong>\r\n\r\n<strong>USD/JPY:</strong>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/USDJPY-DAILY-16042017.png\"><img class=\"aligncenter size-large wp-image-9436\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/USDJPY-DAILY-16042017-1024x472.png\" alt=\"\" width=\"1024\" height=\"472\" /></a>\r\n\r\n<strong> </strong>\r\n<ol start=\"3\">\r\n 	<li><strong> THE PREMIUM SERVICE:</strong></li>\r\n</ol>\r\n<u>WHAT IS THE PREMIUM SERVICE?</u>\r\n\r\nThe PREMIUM SERVICE is a subscriber based Forex support service offering not just trade set-ups, but a bunch of different support services that differentiates the PREMIUM SERVICE from other providers, my competitors, that operate in the same space.\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 PREMIUM SERVICE tab.\r\n\r\nFurther information can be found by clicking TESTIMONIALS, PART-TIME TRADERS and FX PROMOTIONS tabs. To subscribe to THE PREMIUM SERVICE, you will require a valid credit card.\r\n\r\n<u> </u>\r\n\r\n<u>PREMIUM SERVICE PERFORMANCE YEAR TO DATE:</u>\r\n\r\nMONTH TO DATE: +520 pips\r\nYEAR TO DATE:      +1,993 pips\r\n\r\nI am still a little way behind my target. But trading is gathering momentum once again and I am still very confident of achieving my year-end target of 10,000 net profitable pips.\r\n\r\n<u>PREMIUM SERVICE –  SUBSCRIBER PROMOTION:</u>\r\n\r\n<strong><u>“DOUBLE IT UP”</u></strong>\r\n\r\nI usually run a PREMIUM SERVICE subscriber promotion at the end of the old year /start of a new year.\r\n\r\nBecause I knew that this year I would be moving home and traveling in Q2, I deliberately decided to wait, to launch a promotion around that time.\r\n\r\nThis is the biggest and I believe the best subscriber promotion that I have ever offered.\r\n\r\nWhat is <strong>“DOUBLE IT UP”</strong> all about…\r\n\r\nBasically, from now until June 30<sup>th,</sup> 2017 anyone who subscribes to the PREMIUM SERVICE through my “SUBSCRIBE HERE” tab at the top of my welcome page will have their subscription period doubled at no extra cost.\r\n\r\nIn addition, all subscriptions regardless of the date of subscribing will not start until June 30th 2017.\r\n\r\nThis means that from the day of joining the PREMIUM SERVICE you will have 100% access. This could give you up to an additional 12 weeks of membership to the PREMIUM SERVICE depending upon the date you subscribe.\r\n\r\nThis 12-week period covers the period that I am moving home and traveling, and therefore there may be days at a time with zero activity, and there will be some because I will be out of coverage and simply on vacation, but it’s all “FREE” in any case, so whatever happens, it is all a bonus anyhow as your subscription period will officially commence June 30th 2017.\r\n\r\nConfirmation of the <strong>“DOUBLE IT UP” </strong>will be contained in the “welcome on board documents” the accompanies your subscription confirmation.\r\n\r\nThis is the best and most generous promotion that I have ever offered since starting the PREMIUM SERVICE and I hope that many of you take advantage.\r\n\r\n<strong><u>IMPORTANT TO NOTE:</u></strong> Joining the PREMIUM SERVICE <strong><u>now</u></strong> on a 10-week subscription gives you a 20-week subscription period with THE DOUBLE IT UP promotion. This basically covers 2017 in total when you allow for the summer break and the delayed promotional start of your subscription period. At CAD$1,000 this is a great opportunity and fantastic value.\r\n\r\nI add below my “DRIVE THRU blog / TRADING date charts for 2017, 2018 and 2019.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/03/BLOG-DATES-2017-2019.png\"><img class=\"aligncenter size-large wp-image-9300\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/03/BLOG-DATES-2017-2019-1024x621.png\" alt=\"\" width=\"1024\" height=\"621\" /></a>\r\n\r\nPLUS:\r\n\r\nIf you would like to know a little more about THE PREMIUM SERVICE please feel free to watch the following 40-minute video via the link below:\r\n\r\n<a href=\"http://bit.ly/PremServiceQ217\">http://bit.ly/PremServiceQ217</a>\r\n\r\nPLEASE NOTE: the above video is best viewed using a Google Chrome browser.\r\n\r\n<strong>\r\n</strong>\r\n<ol start=\"4\">\r\n 	<li><strong> PREMIUM SERVICE – SUBSCRIBER CONTENT AREA:</strong></li>\r\n</ol>\r\n<u>TRADING REVIEW:</u>\r\n\r\nSo much for my TRADING PLAN being able to continue for a second week. The WSJ journal saw to that. Rather than bank about 150 pips and some nice $$$, 5 new limit order trades triggered and spiked further and the previous positive trades all turned negative. Those trades which were just bouncing around acceptable negative levels pushed further away from my entry levels and in one fell swoop I had gone from a POSITION trader to a RELIGIOUS trader.\r\n\r\nAfter more hasty analysis, I decided to live with the negative positions a little longer on the basis that many trades were when things settle down hedged trades, although, immediately after the TRUMPANTICS it was a little hard to see the hedges!!\r\n\r\nAs mentioned earlier deciding that geopolitical RISK was high, it made sense with a very long low liquidity weekend, to take $$$ and pips off the table. So, I removed a bunch of trades that were in the black.\r\n\r\nBack to the start of the week…\r\n\r\nWhat really bugged me from the start of the week was that two trades, EUR/JPY and NZD/JPY shorts failed to trigger by about 20-30 pips. Both these pairs dropped dramatically during the week and a good +250 pips was lost. Annoying and frustrating but this happens.\r\n\r\nThe market is difficult. I know of several traders who got long GBP cross rates only to have them all blow up in their faces in a matter of minutes. Just when you believe that there is a trend or a directional trade the levels fail and the planned trade is sidelined or just trashed.\r\n\r\nAs I have stated before, whilst I am not 100% happy at the moment with overall trading results I still believe that I am set up the right way to capitalize down the line. It is a waiting game and one should be patient. Patience is critical to success in trading, without patience you will never achieve longevity.\r\n\r\nI dread to think if I was to add up all the hours spent in front of machines, waiting, watching patiently doing nothing, how many hours a week, month or year would the total be?\r\n\r\nIn the week, a net +142 pips were added to my totals, which was, not brilliant by any stretch but it was still a positive n umber.\r\n\r\n&nbsp;\r\n\r\n<u>CORE TRADES:</u>\r\n<ol>\r\n 	<li>EUR/USD and USD/CHF: - I still have capacity for more trades. I removed a couple of trades very cheaply on Thursday last week. I have already started adding them back and will add more this week.</li>\r\n 	<li>GBP/USD: - Nothing has really changed in my opinion, I am still looking for value to add again.</li>\r\n 	<li>EUR/GBP: - Nothing has changed for me with this pair.\r\n\r\nI am still somewhat nervous being short, but believe the EUROZONE risks outweigh those of the UK moving forward. My thoughts are that both the EUR &amp; GBP will start to react together moving forward with BREXIT issues and the EUR/GBP will be caught in the crossfire.</li>\r\n 	<li>NZD/USD, AUD/NZD and EUR/NZD: - These are all trades based on NZD weakness. I have made no secret in my belief that fair value for the NZD/USD is closer to 0.6000. This is about right given that the AUD/USD is valued at 0.6500 according to the NAB.\r\n\r\nI will keep adding trades moving forward.</li>\r\n 	<li>AUD/USD: - I am looking to add several more positions with the CORE POSITION moving forward.</li>\r\n</ol>\r\n<u>PREMIUM SERVICE - TRADES REVIEW<strong>:</strong></u>\r\n\r\nCURRENT PREMIUM SERVICE - LIVE TRADES:\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/LIVE-TRADES-14042017.png\"><img class=\"aligncenter size-large wp-image-9421\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/LIVE-TRADES-14042017-816x1024.png\" alt=\"\" width=\"816\" height=\"1024\" /></a>\r\nCURRENT PREMIUM SERVICE – LIMIT ORDER TRADES:\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/LIMIT-ORDERS-14042017.png\"><img class=\"aligncenter size-large wp-image-9420\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/LIMIT-ORDERS-14042017-907x1024.png\" alt=\"\" width=\"907\" height=\"1024\" /></a>\r\n\r\n<strong> </strong>\r\n\r\n<strong> </strong>\r\n<ol start=\"5\">\r\n 	<li><strong> THE SOAPBOX:</strong></li>\r\n</ol>\r\n&nbsp;\r\n\r\n<strong>FRENCH POLITICS and THE FED… MOVING FORWARD</strong><strong> </strong>\r\n\r\nYou would probably think that from my commentary in the introduction I would be over my ranting and positioning on my soapbox?\r\n\r\nThink again; as you know I love politics and I believe that politics and forex are so closely inter-twinned, the push ‘n pull relationship is hard to break apart and dissect. At times the FX BLOG can be very POLITICAL in places.\r\n\r\nThe title FRENCH POLITICS and THE FED is a little misleading. It is my blog, my thoughts and opinions so I can collate titles and themes as I want to.\r\n\r\nWhere to start: -\r\n\r\nFRENCH POLITICS:\r\n\r\nThe single currency has been under tremendous down side pressure in the past two weeks. All rallies have been selling opportunities and have been well capped.\r\n\r\nTechnical traders are both confused and baffled at the same time as to why the market can see no value in the EUR from spikes and potential sentiment changes.\r\n\r\nFundamentals will trump technicals and we are in a news driven market at the moment where geopolitical news trumps everything. I would rather trust fundamentals in the current market above all else.\r\n\r\nThe French Presidential election has opened a new chapter and the balance of persuasion is shifting. Let me elaborate on my thoughts as to why those pen pushing, desk sucking, jotter blotters in Brussels have twitchy bottoms.\r\n\r\nUp until about three weeks ago, the race for the next President of France was by all accounts a done deal. The pundits had done all their calculations and basically it was most likely to be either a Le Pen or Macron victory in the first round of voting with both going through to the second round with Macron beating Le Pen by a hefty margin.\r\n\r\nIt has been a tame French Presidential election so far, with only the odd scandal, no stories involving the front runners with a sex scandal involving a wet lettuce, whipped cream and an egg whisk. All was relatively calm for a French election.\r\n\r\nEnter, the far-left candidate Jean-Luc Melenchon.\r\n\r\nFrance has always been a sucker for unionism and being bolshie, Holy Mother of God all the poor French laws that once existed in France, now repealed, are still alive and thriving here in Quebec!! There is a state of “Non-Satiety” here in Quebec, no let up at all.\r\n\r\nBack to my point…\r\n\r\nThe latest election poll from Ipsos-Sterna for newspaper Le Monde shows the following: -\r\n\r\nApril 23rd, 2017 first round voting: -\r\n\r\nEmmanuel Macron (Centrist Party):         22%\r\nMarine Le Pen (French National Front): 22%\r\nJean-Luc Melenchon (Far Left):               20%\r\nFrancois Fillon (Conservative):                 19%\r\n\r\n(Second round voting is on May 7th, 2017)\r\n\r\nAs I said, I love politics, and the above positions say several things to me.\r\n<ol>\r\n 	<li>If this poll is accurate. This election is too close to call.</li>\r\n 	<li>How on earth can you say with any degree of confidence who will progress into the second round?</li>\r\n</ol>\r\nThe question that leaps off the page at me is the following, and, I think that this is one major reason why the single currency is un-ceremonially dumped on spikes.\r\n\r\nDo you think that Far Left and Far Right voters would unite in a second round of voting against the mainstream thinking?\r\n\r\nIf so… there is a huge chance that a populist candidate could be victorious and then its bye bye Brussels, bye bye EUR and probably bye bye the EUROPEAN UNION.\r\n\r\nYou can see from the chart below that the EUR/USD is sold aggressively into the 1.0665 – 1.0690 level. The extended wicks back up my thoughts of the market seeing no value as there is no following through.\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/EURUSD-DAILY-CHART-FOR-BLOG-16042017.png\"><img class=\"aligncenter size-large wp-image-9430\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/EURUSD-DAILY-CHART-FOR-BLOG-16042017-1024x495.png\" alt=\"\" width=\"1024\" height=\"495\" /></a>\r\n\r\n&nbsp;\r\n\r\nTHE FED:\r\n\r\nAbsolutely no connection to the FRENCH POLITICAL scene but just as intriguing.\r\n\r\nI am going to re-visit this in detail, I just have to.\r\n\r\nThe following is all my theory based upon the re-appointments due with the FED.\r\n\r\nAt this moment in time I believe that TRUMP is going to try to remove the FED’S independence. I see TRUMP as a currency manipulator himself and it would not surprise me to see him exert control on U.S. interest rates moving forward.\r\n\r\nI believe he will approach the FED in a stealth manner / style of approach.\r\n\r\nIn the next 12 months. Both Janet Yellen, Fed Chair and, Stanley Fischer, Deputy Chairman plus 3 board members need to be replaced as there are vacancies, plus we have the usual round–robin of voting to non-voting members being shuffled.\r\n\r\n“THE DONALD” believes he is so popular and that to fuel his popularity further, keeping a lid on interest rates would serve him better based upon his future policies that he hopes to push through.\r\n\r\nThe FED who are trying to normalize monetary policy are screwing with his plans.\r\n\r\nHe has the chance to appoint nothing but “DOVES” to the board in all capacities and effectively “cook the books”, to fiddle policy moving forward to meet his administrations objectives.\r\n\r\nHe would make it his business to have a hold over those “newbies” appointed. It’s what he does.\r\n\r\nTherefore, with White House influence “THE DONNALD” will become in my opinion the biggest currency manipulator of all time\r\n\r\nCould this happen?\r\n\r\nDoes he just need to sign an executive order to make it so?\r\n\r\nWill he drive this thru a Republican owned congress?\r\n\r\nFrom a trading perspective, we must be ready for something here in my opinion. My entire year is based a huge amount upon central bank monetary policy divergence. Instead… it could be based on a new race to the bottom.\r\n\r\nThink about that over the next two weeks whilst I am moving house….\r\n\r\n&nbsp;\r\n<ol start=\"6\">\r\n 	<li><strong> CLOSING THOUGHTS:</strong></li>\r\n</ol>\r\nNothing more to add here, I have said enough except,\r\n\r\nAs usual…\r\n\r\nAlways remember longevity in Forex trading can only be achieved through trading with good RISK and MONEY MANAGEMENT, and above all set your position sizes in accordance with the size of your account and allow for some flexibility.\r\n\r\nTake care, have a great trading week and see you next on May 14th, 2017\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: #135 THE PREMIUM SERVICE\r\nDATE: 16th April 2017', 'FOR GOD’S SAKE, THIS IS NOTHING MORE THAN ”POT KETTLE BLACK, EGO, HAIRSPRAY, TWEETS & FLIP FLOPPING”', '', 'inherit', 'closed', 'closed', '', '9441-revision-v1', '', '', '2017-04-14 19:15:30', '2017-04-15 00:15:30', '', 9441, 'https://weeklyfxdrivethru.com/9441-revision-v1/', 0, 'revision', '', 0);
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(9443, 1, '2017-04-15 12:17:49', '2017-04-15 17:17:49', '&nbsp;\r\n\r\n&nbsp;\r\n<ol>\r\n 	<li><strong>INTRODUCTION:</strong></li>\r\n</ol>\r\nI am at the moment in the middle of packing, preparing for a house move from Quebec to Nova Scotia, which, is followed very quickly with a trip to New Zealand and Australia. In the full knowledge that over the next two months, I will be away from my office and screens for long periods at a time, I have been setting up my longer-term (POSITION) trades to reflect this. To accommodate our house move, this blog is the last one for two weeks, the next “DRIVE THRU” is scheduled for release on the 14th May.\r\n\r\nLast week and this coming week are shorter trading weeks to cover the Easter holidays, so trading volumes will be lower as traders look to add vacation days either side of the public holidays to take full advantage of time away from the office. This is a great time to conduct full chart reviews and analysis and, for me, knowing that I will be moving and traveling it allowed me time to build up a book of potential LIMIT ORDERS to add to my core positions.\r\n\r\nWhen will I learn? I have been writing and tweeting about the loose cannon “TRUMP” with his twitter account, stating be ready for the unexpected and trade nimble. Last Wednesday, my wife and I had a few action items to complete ahead of our house move. I left the house with my open trades in great shape. I was tempted to bank $$$ and take pips, but made the call that momentum and trends were in play and decided to review the open positions based upon Wednesday’s closing candles.\r\n\r\nFFS; TRUMP does it again. He walks back another key campaign promise by not declaring CHINA a currency manipulator, and jawbones the USD lower in a WSJ interview / article.\r\n\r\nThe result was the DXY fell from basically 101.00 down to just sub 100.00. Five limit orders triggered and my trading book inverted. Basically, I was looking at a sea of “red numbers” when returning home.\r\n\r\nI tweeted to subscribers that I expected pullbacks to occur through the following Asian and European sessions on Thursday. That did not happen to the extent that I had thought, but the New York session did the trick and I decided given the heightened geopolitical risk going into the Easter weekend to remove trades.\r\n\r\nWhilst, I did not really want to remove tiny profitable trades off the table, with what had happened the previous day and with warplanes in the sky and the fleet in the China Sea, to reduce RISK seemed sensible.  I took about 100 pips off the table in profits. It really is a grab ‘n’ go market at times.\r\n\r\nThroughout this entire market move, there appeared to be very few traders on twitter admitting to having suffered on this news event. Was I the only poor sod long the USD at that time?\r\n\r\nLooking at twitter it appears so… do I need to spell it out again about twitter?\r\n\r\nMoving on and back to “THE DONALD”\r\n\r\nHis dictatorship style must be pissing off his cabinet, he undermines Rex Tillerson and now by saying that China is NOT a currency manipulator he undermines and steals away the thunder from Steven Mnuchin’s treasury office review and report on Easter Monday about currency manipulation. This makes TRUMP himself responsible in a way for a LEAK of an official document ahead of its due date. I know he is the President and all that… but lead by fecking example. Keep it in your pants for God’s sake.\r\n\r\n<strong>FFS… “POT KETTLE BLACK, EGO, HAIRSPRAY, </strong><strong>TWEETS &amp; FLIP FLOPPING”</strong>\r\n\r\nThen in that same interview TRUMP jawboned the USD lower (that was the move talked about above), on the back of “people think I’m doing a great job and the USD has strengthened as a result but it’s too strong because of the confidence they have in me, it should be lower”.\r\n\r\nFFS… What a load of bollocks.\r\n\r\nTRUMP’S first 100 days would have been nothing short of a colossal F**K UP so far had he not carried out a missile strike on Syria and unloaded the MOAB (“Mother of All Bombs” on Afghanistan). The gun lobbyists and other far right sections of US society must be loving this. It’s like an episode of “Deadwood” gun-ho politics from the wild west in 2017.\r\n\r\nThe attacks are a distraction from the many main events, such as “THE DONALD” simply cannot figure out how to deal with career politicians. So, he’s not that smart, just a huge ego and there are still no “great deals”. Every campaign promise made with such confidence has so far been walked back. He is “flip- flopping” on the fundamentals he was elected for in his manifesto. So much for draining the swamp he is being consumed by the very aspect of D.C. he stated unequivocally that he would fix.\r\n\r\nObamacare; the repeal / replacement call it what you want, was an absolute failed dictatorship approach and the Republican party needs to look in the mirror and question their professionalism. After 8 years in the wings with time to prepare and given it was a front and centre policy for the election its failure to pass shows how poor U.S. politicians are. There are simply no excuses.\r\n\r\nWhere is his wall?\r\nWhere are the trade deals?\r\nWhat about taxes?\r\nWhat about all the infrastructure promises?\r\nWhat about the quick fix on repatriation of offshore US funds?\r\n\r\nI may be a little unfair with the above. Yes, I acknowledge that TRUMP alone won the election for the Republicans and he did it without a party machine behind him. It makes the Hillary Clinton failure even more catastrophic and shows that the Democrats were out of touch. The elitist approach taken by Hillary was doomed from day one, but like most leaders she surrounded herself with “YES” people.\r\n\r\nHowever, the first 100 days: So far; It’s just phony, the US voters have been seriously duped by TRUMP; It’s just ego and hairspray.\r\n\r\nFinally, on “THE DONALD”\r\n\r\nLet me get this off my chest….\r\n\r\nJawboning is a form of currency manipulation, just as Quantitative Easing (QE) is as well. The US was and still is in my opinion a CURRENCY MANIPULATOR and in more recent history was the first to promote manipulation following the 2008-9 Financial crash.\r\n\r\nRight now, I feel that the TRUMP administration so far is …\r\n\r\n<strong>NOTHING MORE THAN ”POT KETTLE BLACK, EGO, HAIRSPRAY, </strong><strong>TWEETS &amp; FLIP FLOPPING”</strong>\r\n\r\nI feel much better after that…\r\n\r\nLast week’s economic data was centered around the BOC interest rate decision and the Aussie Jobs, with the USD inflation and sentiment numbers.\r\n\r\nStephen Poloz at the BOC was basically a yawn fest. He spoke about improvements and the housing issues across Canada. He will do a Donald, and walk this back next time around. Watch this space.\r\n\r\nAussie jobs were a blowout; incredible numbers: - 61,000 new jobs versus the forecast of 21,000. The full-time / part-time ratios were impressive.\r\n\r\nWith regards to the US consumer confidence numbers; the Preliminary reading was at 98.00. This is big number and despite everything that I have observed and the media have played down, the positive TRUMP EFFECT feeling in the U.S. remains intact. Confidence in TRUMP and confidence in the U.S. economy is high. It was 98.6 in January after the Presidential inauguration and although it dipped for a bit, it is back up again.\r\n\r\nThe inflation aspect is still looking to be around the 2.5% mark in 2018. This number will fuel a whole host of issues regarding FED policy and TRUMP’S desire for low rates. The cynic in me says he wants low borrowing costs not as much for America but for his family business interests, which he longer has an interest in… yeah right, my arse!\r\n\r\nThen on Good Friday we had weak CPi Retail Sales data which basically shows from a macro and some might say micro level that the consumer is pulling back…. uncertain.\r\n\r\nContrasting U.S. data. One month’s data will not reverse FED policy but it clearly shows how difficult this stuff is to trend from a Central bank perspective.\r\n\r\nMoving on…\r\n\r\nTHE WEEKLY FX DRIVE THRU – LIVE webinars.\r\n\r\n#10 this Monday 17th April at 5:30PM.\r\n<ul>\r\n 	<li>To attend live - you need Google Chrome as a browser.</li>\r\n 	<li>You cannot view on smart phones or tablets, only Laptops and Desktops.</li>\r\n</ul>\r\nThe “LIVE WEBINAR” link is below: -\r\n\r\n<a href=\"http://bit.ly/drivethru-live\">http://bit.ly/drivethru-live</a>\r\n\r\nIf you cannot listen live you can check out my You Tube channel,\r\n<strong><em>Scott Pickering</em></strong> <strong><em>Weekly FX Drive Thru</em></strong> for a freshly posted copy of the webinar, usually, within a couple of hours of its completion.\r\n\r\nHere is the link for my you tube channel, when I get to 100 subscribers (if I get there) I can have my own personalized shortened link. If you like the style of my webinar, please subscribe. The benefits are that as soon as a new webinar is posted you are emailed.: -\r\n\r\n<a href=\"https://www.youtube.com/channel/UCV-9VDnNkHjTPBzKqLqCGJw/videos\">https://www.youtube.com/channel/UCV-9VDnNkHjTPBzKqLqCGJw/videos</a>\r\n\r\nAlmost there…\r\n\r\nIf you would like to be in the monthly draw to win a “FREE 10-WEEK SUBSCRIPTION” to the PREMIUM SERVICE, valued at CAD$1,000.00, all you have to do is subscribe to receive this FREE NEWSLETTER on my website <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a>  On my welcome page just below my cube logo is where you complete your subscription.\r\n\r\n<strong> </strong>\r\n<ol start=\"2\">\r\n 	<li><strong> THE FX MARKET PLACE – LOOKING FORWARD:</strong></li>\r\n</ol>\r\n<u>ECONOMIC DATA RELEASES:</u>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/ECON-DATA-16042017.png\"><img class=\"aligncenter size-large wp-image-9427\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/ECON-DATA-16042017-1024x749.png\" alt=\"\" width=\"1024\" height=\"749\" /></a>\r\n\r\n&nbsp;\r\n\r\n<u>MY THOUGHTS ON THE WEEK AHEAD:</u>\r\n\r\nNothing much this week for me from Economic Data releases, however, I think that geopolitical news will continue to dominate proceedings: -\r\n<ol>\r\n 	<li>GBP: Retail Sales numbers are released on Friday. This is always going to be an interesting number to follow given the BREXIT process. The PMi numbers were largely disappointing; two out of three were poor.Consumer confidence and sales numbers are important to the UK especially at this time, given the inflation issues that are creeping into the UK economy. How will this inflation effect retail sales?</li>\r\n 	<li>OPEC: WE have a two-day OPEC meeting that concludes on the Saturday of next weekend.I know that one should be serious about OPEC but I do find the “CARTEL” similar to a bunch of misfits allegedly united. If history repeats itself the production cut will fall off the page the longer they try to keep it in place.\r\n\r\nI maintain my view expressed, almost every week, as I review WTi on the WEEKLY FX DRIVE THRU – LIVE WEBINAR, which is, that as soon as OIL hits $60.00 a barrel should it ever get there again, US Shale producers will be leaping back into the market in numbers. OIL is a pure and very simple supply and demand commodity.</li>\r\n</ol>\r\nObviously, the BREXIT news will be on the wires at ad-hoc times. I am however, expecting this to calm down as the 27 members of the EU do not meet to formally discuss BREXIT until the end of April and negotiations do not start until the end of May. Nevertheless, we still should be on our toes.\r\n\r\n<u>USD MAJORS – “IMMEDIATE” SUPPORT &amp; RESISTANCE:</u>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/TCHART-16042017.png\"><img class=\"aligncenter size-large wp-image-9426\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/TCHART-16042017-1024x857.png\" alt=\"\" width=\"1024\" height=\"857\" /></a>\r\n\r\n&nbsp;\r\n\r\nThe charts below contain commentary (my thoughts and views), these are the USD major charts that are reflected in the spreadsheet above.\r\n<strong>EUR/USD:</strong>\r\n\r\n<strong><a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/EURUSD-DAILY-16042017.png\"><img class=\"aligncenter size-large wp-image-9429\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/EURUSD-DAILY-16042017-1024x472.png\" alt=\"\" width=\"1024\" height=\"472\" /></a> </strong>\r\n\r\n<strong> </strong>\r\n\r\n<strong>GBP/USD:</strong>\r\n\r\n<strong><a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/GBPUSD-DAILY-16042017.png\"><img class=\"aligncenter size-large wp-image-9431\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/GBPUSD-DAILY-16042017-1024x472.png\" alt=\"\" width=\"1024\" height=\"472\" /></a> </strong>\r\n\r\n<strong> </strong>\r\n\r\n<strong>AUD/USD:</strong>\r\n\r\n<strong> <a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/AUDUSD-DAILY-16042017.png\"><img class=\"aligncenter size-large wp-image-9428\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/AUDUSD-DAILY-16042017-1024x472.png\" alt=\"\" width=\"1024\" height=\"472\" /></a></strong>\r\n\r\n<strong> </strong>\r\n\r\n<strong>NZD/USD:</strong>\r\n\r\n<strong> <a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/NZDUSD-DAILY-16042017.png\"><img class=\"aligncenter size-large wp-image-9432\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/NZDUSD-DAILY-16042017-1024x472.png\" alt=\"\" width=\"1024\" height=\"472\" /></a></strong>\r\n\r\n<strong> </strong>\r\n\r\n<strong>USD/CAD:</strong>\r\n\r\n<strong> <a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/USDCAD-DAILY-16042017.png\"><img class=\"aligncenter size-large wp-image-9434\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/USDCAD-DAILY-16042017-1024x472.png\" alt=\"\" width=\"1024\" height=\"472\" /></a></strong>\r\n\r\n<strong> </strong>\r\n\r\n<strong>USD/CHF:</strong>\r\n\r\n<strong> <a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/USDCHF-DAILY-16042017.png\"><img class=\"aligncenter size-large wp-image-9435\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/USDCHF-DAILY-16042017-1024x472.png\" alt=\"\" width=\"1024\" height=\"472\" /></a></strong>\r\n\r\n<strong> </strong>\r\n\r\n<strong>USD/JPY:</strong>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/USDJPY-DAILY-16042017.png\"><img class=\"aligncenter size-large wp-image-9436\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/USDJPY-DAILY-16042017-1024x472.png\" alt=\"\" width=\"1024\" height=\"472\" /></a>\r\n\r\n&nbsp;\r\n\r\n<strong>\r\n</strong>\r\n<ol start=\"3\">\r\n 	<li><strong> THE PREMIUM SERVICE:</strong></li>\r\n</ol>\r\n<u>WHAT IS THE PREMIUM SERVICE?</u>\r\n\r\nThe PREMIUM SERVICE is a subscriber based Forex support service offering not just trade set-ups, but a bunch of different support services that differentiates the PREMIUM SERVICE from other providers, my competitors, that operate in the same space.\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 PREMIUM SERVICE tab.\r\n\r\nFurther information can be found by clicking TESTIMONIALS, PART-TIME TRADERS and FX PROMOTIONS tabs. To subscribe to THE PREMIUM SERVICE, you will require a valid credit card.\r\n\r\n<u> </u>\r\n\r\n<u>PREMIUM SERVICE PERFORMANCE YEAR TO DATE:</u>\r\n\r\nMONTH TO DATE: +520 pips\r\nYEAR TO DATE:      +1,993 pips\r\n\r\nI am still a little way behind my target. But trading is gathering momentum once again and I am still very confident of achieving my year-end target of 10,000 net profitable pips.\r\n<u>PREMIUM SERVICE –  SUBSCRIBER PROMOTION:</u>\r\n\r\n<strong><u>“DOUBLE IT UP”</u></strong>\r\n\r\nI usually run a PREMIUM SERVICE subscriber promotion at the end of the old year /start of a new year.\r\n\r\nBecause I knew that this year I would be moving home and traveling in Q2, I deliberately decided to wait, to launch a promotion around that time.\r\n\r\nThis is the biggest and I believe the best subscriber promotion that I have ever offered.\r\n\r\nWhat is <strong>“DOUBLE IT UP”</strong> all about…\r\n\r\nBasically, from now until June 30<sup>th,</sup> 2017 anyone who subscribes to the PREMIUM SERVICE through my “SUBSCRIBE HERE” tab at the top of my welcome page will have their subscription period doubled at no extra cost.\r\n\r\nIn addition, all subscriptions regardless of the date of subscribing will not start until June 30th 2017.\r\n\r\nThis means that from the day of joining the PREMIUM SERVICE you will have 100% access. This could give you up to an additional 12 weeks of membership to the PREMIUM SERVICE depending upon the date you subscribe.\r\n\r\nThis 12-week period covers the period that I am moving home and traveling, and therefore there may be days at a time with zero activity, and there will be some because I will be out of coverage and simply on vacation, but it’s all “FREE” in any case, so whatever happens, it is all a bonus anyhow as your subscription period will officially commence June 30th 2017.\r\n\r\nConfirmation of the <strong>“DOUBLE IT UP” </strong>will be contained in the “welcome on board documents” the accompanies your subscription confirmation.\r\n\r\nThis is the best and most generous promotion that I have ever offered since starting the PREMIUM SERVICE and I hope that many of you take advantage.\r\n\r\n<strong><u>IMPORTANT TO NOTE:</u></strong> Joining the PREMIUM SERVICE <strong><u>now</u></strong> on a 10-week subscription gives you a 20-week subscription period with THE DOUBLE IT UP promotion. This basically covers 2017 in total when you allow for the summer break and the delayed promotional start of your subscription period. At CAD$1,000 this is a great opportunity and fantastic value.\r\n\r\nI add below my “DRIVE THRU blog / TRADING date charts for 2017, 2018 and 2019.\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/03/BLOG-DATES-2017-2019.png\"><img class=\"aligncenter size-large wp-image-9300\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/03/BLOG-DATES-2017-2019-1024x621.png\" alt=\"\" width=\"1024\" height=\"621\" /></a>\r\n\r\nPLUS:\r\n\r\nIf you would like to know a little more about THE PREMIUM SERVICE please feel free to watch the following 40-minute video via the link below:\r\n\r\n<a href=\"http://bit.ly/PremServiceQ217\">http://bit.ly/PremServiceQ217</a>\r\n\r\nPLEASE NOTE: the above video is best viewed using a Google Chrome browser.\r\n\r\n&nbsp;\r\n<ol start=\"4\">\r\n 	<li><strong> PREMIUM SERVICE – SUBSCRIBER CONTENT AREA:\r\n</strong>(Not available with this version of THE WEEKLY FX DRIVE THRU)</li>\r\n</ol>\r\n<strong> </strong>\r\n<ol start=\"5\">\r\n 	<li><strong> THE SOAPBOX:</strong></li>\r\n</ol>\r\n<p style=\"text-align: center;\"><strong>FRENCH POLITICS and THE FED… MOVING FORWARD</strong></p>\r\nYou would probably think that from my commentary in the introduction I would be over my ranting and positioning on my soapbox?\r\n\r\nThink again; as you know I love politics and I believe that politics and forex are so closely inter-twinned, the push ‘n pull relationship is hard to break apart and dissect. At times the FX BLOG can be very POLITICAL in places.\r\n\r\nThe title FRENCH POLITICS and THE FED is a little misleading. It is my blog, my thoughts and opinions so I can collate titles and themes as I want to.\r\n\r\nWhere to start: -\r\n\r\nFRENCH POLITICS:\r\n\r\nThe single currency has been under tremendous down side pressure in the past two weeks. All rallies have been selling opportunities and have been well capped.\r\n\r\nTechnical traders are both confused and baffled at the same time as to why the market can see no value in the EUR from spikes and potential sentiment changes.\r\n\r\nFundamentals will trump technicals and we are in a news driven market at the moment where geopolitical news trumps everything. I would rather trust fundamentals in the current market above all else.\r\n\r\nThe French Presidential election has opened a new chapter and the balance of persuasion is shifting. Let me elaborate on my thoughts as to why those pen pushing, desk sucking, jotter blotters in Brussels have twitchy bottoms.\r\n\r\nUp until about three weeks ago, the race for the next President of France was by all accounts a done deal. The pundits had done all their calculations and basically it was most likely to be either a Le Pen or Macron victory in the first round of voting with both going through to the second round with Macron beating Le Pen by a hefty margin.\r\n\r\nIt has been a tame French Presidential election so far, with only the odd scandal, no stories involving the front runners with a sex scandal involving a wet lettuce, whipped cream and an egg whisk. All was relatively calm for a French election.\r\n\r\nEnter, the far-left candidate Jean-Luc Melenchon.\r\n\r\nFrance has always been a sucker for unionism and being bolshie, Holy Mother of God all the poor French laws that once existed in France, now repealed, are still alive and thriving here in Quebec!! There is a state of “Non-Satiety” here in Quebec, no let up at all.\r\n\r\nBack to my point…\r\n\r\nThe latest election poll from Ipsos-Sterna for newspaper Le Monde shows the following: -\r\n\r\nApril 23rd, 2017 first round voting: -\r\n\r\nEmmanuel Macron (Centrist Party):         22%\r\nMarine Le Pen (French National Front): 22%\r\nJean-Luc Melenchon (Far Left):               20%\r\nFrancois Fillon (Conservative):                 19%\r\n\r\n(Second round voting is on May 7th, 2017)\r\n\r\nAs I said, I love politics, and the above positions say several things to me.\r\n<ol>\r\n 	<li>If this poll is accurate. This election is too close to call.</li>\r\n 	<li>How on earth can you say with any degree of confidence who will progress into the second round?</li>\r\n</ol>\r\nThe question that leaps off the page at me is the following, and, I think that this is one major reason why the single currency is un-ceremonially dumped on spikes.\r\n\r\nDo you think that Far Left and Far Right voters would unite in a second round of voting against the mainstream thinking?\r\n\r\nIf so… there is a huge chance that a populist candidate could be victorious and then its bye bye Brussels, bye bye EUR and probably bye bye the EUROPEAN UNION.\r\n\r\nYou can see from the chart below that the EUR/USD is sold aggressively into the 1.0665 – 1.0690 level. The extended wicks back up my thoughts of the market seeing no value as there is no following through.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/EURUSD-DAILY-CHART-FOR-BLOG-16042017.png\"><img class=\"aligncenter size-large wp-image-9430\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/EURUSD-DAILY-CHART-FOR-BLOG-16042017-1024x495.png\" alt=\"\" width=\"1024\" height=\"495\" /></a>\r\n\r\n&nbsp;\r\n\r\nTHE FED:\r\n\r\nAbsolutely no connection to the FRENCH POLITICAL scene but just as intriguing.\r\n\r\nI am going to re-visit this in detail, I just have to.\r\n\r\nThe following is all my theory based upon the re-appointments due with the FED.\r\n\r\nAt this moment in time I believe that TRUMP is going to try to remove the FED’S independence. I see TRUMP as a currency manipulator himself and it would not surprise me to see him exert control on U.S. interest rates moving forward.\r\n\r\nI believe he will approach the FED in a stealth manner / style of approach.\r\n\r\nIn the next 12 months. Both Janet Yellen, Fed Chair and, Stanley Fischer, Deputy Chairman plus 3 board members need to be replaced as there are vacancies, plus we have the usual round–robin of voting to non-voting members being shuffled.\r\n\r\n“THE DONALD” believes he is so popular and that to fuel his popularity further, keeping a lid on interest rates would serve him better based upon his future policies that he hopes to push through.\r\n\r\nThe FED who are trying to normalize monetary policy are screwing with his plans.\r\n\r\nHe has the chance to appoint nothing but “DOVES” to the board in all capacities and effectively “cook the books”, to fiddle policy moving forward to meet his administrations objectives.\r\n\r\nHe would make it his business to have a hold over those “newbies” appointed. It’s what he does.\r\n\r\nTherefore, with White House influence “THE DONNALD” will become in my opinion the biggest currency manipulator of all time\r\n\r\nCould this happen?\r\n\r\nDoes he just need to sign an executive order to make it so?\r\n\r\nWill he drive this thru a Republican owned congress?\r\n\r\nFrom a trading perspective, we must be ready for something here in my opinion. My entire year is based a huge amount upon central bank monetary policy divergence. Instead… it could be based on a new race to the bottom.\r\n\r\nThink about that over the next two weeks whilst I am moving house….\r\n\r\n&nbsp;\r\n<ol start=\"6\">\r\n 	<li><strong> CLOSING THOUGHTS:</strong></li>\r\n</ol>\r\nNothing more to add here, I have said enough except,\r\n\r\nAs usual…\r\n\r\nAlways remember longevity in Forex trading can only be achieved through trading with good RISK and MONEY MANAGEMENT, and above all set your position sizes in accordance with the size of your account and allow for some flexibility.\r\n\r\nTake care, have a great trading week and see you next on May 14th, 2017\r\n\r\nScott Pickering\r\nThe Pip Accumulator\r\nTwitter: @pipaccumulator\r\n<a href=\"http://weeklyfxdrivethru.com/disclaimer/\">http://weeklyfxdrivethru.com/disclaimer/</a>\r\n\r\nBLOG VERSION: #239 FREE NEWSLETTER\r\nDATE: 16th April 2017.', 'FOR GOD’S SAKE, THIS IS NOTHING MORE THAN ”POT KETTLE BLACK, EGO, HAIRSPRAY, TWEETS & FLIP FLOPPING”', '', 'publish', 'open', 'closed', '', 'gods-sake-nothing-pot-kettle-black-ego-hairspray-tweets-flip-flopping', '', '', '2017-04-21 09:10:17', '2017-04-21 14:10:17', '', 0, 'https://weeklyfxdrivethru.com/?p=9443', 0, 'post', '', 0);
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(9444, 1, '2017-04-15 12:17:49', '2017-04-15 17:17:49', '&nbsp;\r\n\r\nBLOG VERSION: #239 FREE NEWSLETTER\r\nDATE: 16th April 2017.\r\n<ol>\r\n 	<li><strong>INTRODUCTION:</strong></li>\r\n</ol>\r\nI am at the moment in the middle of packing, preparing for a house move from Quebec to Nova Scotia, which, is followed very quickly with a trip to New Zealand and Australia. In the full knowledge that over the next two months, I will be away from my office and screens for long periods at a time, I have been setting up my longer-term (POSITION) trades to reflect this. To accommodate our house move, this blog is the last one for two weeks, the next “DRIVE THRU” is scheduled for release on the 14th May.\r\n\r\nLast week and this coming week are shorter trading weeks to cover the Easter holidays, so trading volumes will be lower as traders look to add vacation days either side of the public holidays to take full advantage of time away from the office. This is a great time to conduct full chart reviews and analysis and, for me, knowing that I will be moving and traveling it allowed me time to build up a book of potential LIMIT ORDERS to add to my core positions.\r\n\r\nWhen will I learn? I have been writing and tweeting about the loose cannon “TRUMP” with his twitter account, stating be ready for the unexpected and trade nimble. Last Wednesday, my wife and I had a few action items to complete ahead of our house move. I left the house with my open trades in great shape. I was tempted to bank $$$ and take pips, but made the call that momentum and trends were in play and decided to review the open positions based upon Wednesday’s closing candles.\r\n\r\nFFS; TRUMP does it again. He walks back another key campaign promise by not declaring CHINA a currency manipulator, and jawbones the USD lower in a WSJ interview / article.\r\n\r\nThe result was the DXY fell from basically 101.00 down to just sub 100.00. Five limit orders triggered and my trading book inverted. Basically, I was looking at a sea of “red numbers” when returning home.\r\n\r\nI tweeted to subscribers that I expected pullbacks to occur through the following Asian and European sessions on Thursday. That did not happen to the extent that I had thought, but the New York session did the trick and I decided given the heightened geopolitical risk going into the Easter weekend to remove trades.\r\n\r\nWhilst, I did not really want to remove tiny profitable trades off the table, with what had happened the previous day and with warplanes in the sky and the fleet in the China Sea, to reduce RISK seemed sensible.  I took about 100 pips off the table in profits. It really is a grab ‘n’ go market at times.\r\n\r\nThroughout this entire market move, there appeared to be very few traders on twitter admitting to having suffered on this news event. Was I the only poor sod long the USD at that time?\r\n\r\nLooking at twitter it appears so… do I need to spell it out again about twitter?\r\n\r\nMoving on and back to “THE DONALD”\r\n\r\nHis dictatorship style must be pissing off his cabinet, he undermines Rex Tillerson and now by saying that China is NOT a currency manipulator he undermines and steals away the thunder from Steven Mnuchin’s treasury office review and report on Easter Monday about currency manipulation. This makes TRUMP himself responsible in a way for a LEAK of an official document ahead of its due date. I know he is the President and all that… but lead by fecking example. Keep it in your pants for God’s sake.\r\n\r\n<strong>FFS… “POT KETTLE BLACK, EGO, HAIRSPRAY, </strong><strong>TWEETS &amp; FLIP FLOPPING”</strong>\r\n\r\nThen in that same interview TRUMP jawboned the USD lower (that was the move talked about above), on the back of “people think I’m doing a great job and the USD has strengthened as a result but it’s too strong because of the confidence they have in me, it should be lower”.\r\n\r\nFFS… What a load of bollocks.\r\n\r\nTRUMP’S first 100 days would have been nothing short of a colossal F**K UP so far had he not carried out a missile strike on Syria and unloaded the MOAB (“Mother of All Bombs” on Afghanistan). The gun lobbyists and other far right sections of US society must be loving this. It’s like an episode of “Deadwood” gun-ho politics from the wild west in 2017.\r\n\r\nThe attacks are a distraction from the many main events, such as “THE DONALD” simply cannot figure out how to deal with career politicians. So, he’s not that smart, just a huge ego and there are still no “great deals”. Every campaign promise made with such confidence has so far been walked back. He is “flip- flopping” on the fundamentals he was elected for in his manifesto. So much for draining the swamp he is being consumed by the very aspect of D.C. he stated unequivocally that he would fix.\r\n\r\nObamacare; the repeal / replacement call it what you want, was an absolute failed dictatorship approach and the Republican party needs to look in the mirror and question their professionalism. After 8 years in the wings with time to prepare and given it was a front and centre policy for the election its failure to pass shows how poor U.S. politicians are. There are simply no excuses.\r\n\r\nWhere is his wall?\r\nWhere are the trade deals?\r\nWhat about taxes?\r\nWhat about all the infrastructure promises?\r\nWhat about the quick fix on repatriation of offshore US funds?\r\n\r\nI may be a little unfair with the above. Yes, I acknowledge that TRUMP alone won the election for the Republicans and he did it without a party machine behind him. It makes the Hillary Clinton failure even more catastrophic and shows that the Democrats were out of touch. The elitist approach taken by Hillary was doomed from day one, but like most leaders she surrounded herself with “YES” people.\r\n\r\nHowever, the first 100 days: So far; It’s just phony, the US voters have been seriously duped by TRUMP; It’s just ego and hairspray.\r\n\r\nFinally, on “THE DONALD”\r\n\r\nLet me get this off my chest….\r\n\r\nJawboning is a form of currency manipulation, just as Quantitative Easing (QE) is as well. The US was and still is in my opinion a CURRENCY MANIPULATOR and in more recent history was the first to promote manipulation following the 2008-9 Financial crash.\r\n\r\nRight now, I feel that the TRUMP administration so far is …\r\n\r\n<strong>NOTHING MORE THAN ”POT KETTLE BLACK, EGO, HAIRSPRAY, </strong><strong>TWEETS &amp; FLIP FLOPPING”</strong>\r\n\r\nI feel much better after that…\r\n\r\nLast week’s economic data was centered around the BOC interest rate decision and the Aussie Jobs, with the USD inflation and sentiment numbers.\r\n\r\nStephen Poloz at the BOC was basically a yawn fest. He spoke about improvements and the housing issues across Canada. He will do a Donald, and walk this back next time around. Watch this space.\r\n\r\nAussie jobs were a blowout; incredible numbers: - 61,000 new jobs versus the forecast of 21,000. The full-time / part-time ratios were impressive.\r\n\r\nWith regards to the US consumer confidence numbers; the Preliminary reading was at 98.00. This is big number and despite everything that I have observed and the media have played down, the positive TRUMP EFFECT feeling in the U.S. remains intact. Confidence in TRUMP and confidence in the U.S. economy is high. It was 98.6 in January after the Presidential inauguration and although it dipped for a bit, it is back up again.\r\n\r\nThe inflation aspect is still looking to be around the 2.5% mark in 2018. This number will fuel a whole host of issues regarding FED policy and TRUMP’S desire for low rates. The cynic in me says he wants low borrowing costs not as much for America but for his family business interests, which he longer has an interest in… yeah right, my arse!\r\n\r\nThen on Good Friday we had weak CPi Retail Sales data which basically shows from a macro and some might say micro level that the consumer is pulling back…. uncertain.\r\n\r\nContrasting U.S. data. One month’s data will not reverse FED policy but it clearly shows how difficult this stuff is to trend from a Central bank perspective.\r\n\r\nMoving on…\r\n\r\nTHE WEEKLY FX DRIVE THRU – LIVE webinars.\r\n\r\n#10 this Monday 17th April at 5:30PM.\r\n<ul>\r\n 	<li>To attend live - you need Google Chrome as a browser.</li>\r\n 	<li>You cannot view on smart phones or tablets, only Laptops and Desktops.</li>\r\n</ul>\r\nThe “LIVE WEBINAR” link is below: -\r\n\r\n<a href=\"http://bit.ly/drivethru-live\">http://bit.ly/drivethru-live</a>\r\n\r\nIf you cannot listen live you can check out my You Tube channel,\r\n<strong><em>Scott Pickering</em></strong> <strong><em>Weekly FX Drive Thru</em></strong> for a freshly posted copy of the webinar, usually, within a couple of hours of its completion.\r\n\r\nHere is the link for my you tube channel, when I get to 100 subscribers (if I get there) I can have my own personalized shortened link. If you like the style of my webinar, please subscribe. The benefits are that as soon as a new webinar is posted you are emailed.: -\r\n\r\n<a href=\"https://www.youtube.com/channel/UCV-9VDnNkHjTPBzKqLqCGJw/videos\">https://www.youtube.com/channel/UCV-9VDnNkHjTPBzKqLqCGJw/videos</a>\r\n\r\nAlmost there…\r\n\r\nIf you would like to be in the monthly draw to win a “FREE 10-WEEK SUBSCRIPTION” to the PREMIUM SERVICE, valued at CAD$1,000.00, all you have to do is subscribe to receive this FREE NEWSLETTER on my website <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a>  On my welcome page just below my cube logo is where you complete your subscription.\r\n\r\n<strong> </strong>\r\n<ol start=\"2\">\r\n 	<li><strong> THE FX MARKET PLACE – LOOKING FORWARD:</strong></li>\r\n</ol>\r\n<u>ECONOMIC DATA RELEASES:</u>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/ECON-DATA-16042017.png\"><img class=\"aligncenter size-large wp-image-9427\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/ECON-DATA-16042017-1024x749.png\" alt=\"\" width=\"1024\" height=\"749\" /></a>\r\n\r\n&nbsp;\r\n\r\n<u>MY THOUGHTS ON THE WEEK AHEAD:</u>\r\n\r\nNothing much this week for me from Economic Data releases, however, I think that geopolitical news will continue to dominate proceedings: -\r\n<ol>\r\n 	<li>GBP: Retail Sales numbers are released on Friday. This is always going to be an interesting number to follow given the BREXIT process. The PMi numbers were largely disappointing; two out of three were poor.\r\n\r\nConsumer confidence and sales numbers are important to the UK especially at this time, given the inflation issues that are creeping into the UK economy. How will this inflation effect retail sales?</li>\r\n 	<li>OPEC: WE have a two-day OPEC meeting that concludes on the Saturday of next weekend.\r\n\r\nI know that one should be serious about OPEC but I do find the “CARTEL” similar to a bunch of misfits allegedly united. If history repeats itself the production cut will fall off the page the longer they try to keep it in place.\r\n\r\nI maintain my view expressed, almost every week, as I review WTi on the WEEKLY FX DRIVE THRU – LIVE WEBINAR, which is, that as soon as OIL hits $60.00 a barrel should it ever get there again, US Shale producers will be leaping back into the market in numbers. OIL is a pure and very simple supply and demand commodity.</li>\r\n</ol>\r\nObviously, the BREXIT news will be on the wires at ad-hoc times. I am however, expecting this to calm down as the 27 members of the EU do not meet to formally discuss BREXIT until the end of April and negotiations do not start until the end of May. Nevertheless, we still should be on our toes.\r\n\r\n<u>USD MAJORS – “IMMEDIATE” SUPPORT &amp; RESISTANCE:</u>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/TCHART-16042017.png\"><img class=\"aligncenter size-large wp-image-9426\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/TCHART-16042017-1024x857.png\" alt=\"\" width=\"1024\" height=\"857\" /></a>\r\n\r\n&nbsp;\r\n\r\nThe charts below contain commentary (my thoughts and views), these are the USD major charts that are reflected in the spreadsheet above.\r\n<strong>EUR/USD:</strong>\r\n\r\n<strong><a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/EURUSD-DAILY-16042017.png\"><img class=\"aligncenter size-large wp-image-9429\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/EURUSD-DAILY-16042017-1024x472.png\" alt=\"\" width=\"1024\" height=\"472\" /></a> </strong>\r\n\r\n<strong> </strong>\r\n\r\n<strong>GBP/USD:</strong>\r\n\r\n<strong><a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/GBPUSD-DAILY-16042017.png\"><img class=\"aligncenter size-large wp-image-9431\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/GBPUSD-DAILY-16042017-1024x472.png\" alt=\"\" width=\"1024\" height=\"472\" /></a> </strong>\r\n\r\n<strong> </strong>\r\n\r\n<strong>AUD/USD:</strong>\r\n\r\n<strong> <a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/AUDUSD-DAILY-16042017.png\"><img class=\"aligncenter size-large wp-image-9428\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/AUDUSD-DAILY-16042017-1024x472.png\" alt=\"\" width=\"1024\" height=\"472\" /></a></strong>\r\n\r\n<strong> </strong>\r\n\r\n<strong>NZD/USD:</strong>\r\n\r\n<strong> <a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/NZDUSD-DAILY-16042017.png\"><img class=\"aligncenter size-large wp-image-9432\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/NZDUSD-DAILY-16042017-1024x472.png\" alt=\"\" width=\"1024\" height=\"472\" /></a></strong>\r\n\r\n<strong> </strong>\r\n\r\n<strong>USD/CAD:</strong>\r\n\r\n<strong> <a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/USDCAD-DAILY-16042017.png\"><img class=\"aligncenter size-large wp-image-9434\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/USDCAD-DAILY-16042017-1024x472.png\" alt=\"\" width=\"1024\" height=\"472\" /></a></strong>\r\n\r\n<strong> </strong>\r\n\r\n<strong>USD/CHF:</strong>\r\n\r\n<strong> <a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/USDCHF-DAILY-16042017.png\"><img class=\"aligncenter size-large wp-image-9435\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/USDCHF-DAILY-16042017-1024x472.png\" alt=\"\" width=\"1024\" height=\"472\" /></a></strong>\r\n\r\n<strong> </strong>\r\n\r\n<strong>USD/JPY:</strong>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/USDJPY-DAILY-16042017.png\"><img class=\"aligncenter size-large wp-image-9436\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/USDJPY-DAILY-16042017-1024x472.png\" alt=\"\" width=\"1024\" height=\"472\" /></a>\r\n\r\n&nbsp;\r\n\r\n<strong>\r\n</strong>\r\n<ol start=\"3\">\r\n 	<li><strong> THE PREMIUM SERVICE:</strong></li>\r\n</ol>\r\n<u>WHAT IS THE PREMIUM SERVICE?</u>\r\n\r\nThe PREMIUM SERVICE is a subscriber based Forex support service offering not just trade set-ups, but a bunch of different support services that differentiates the PREMIUM SERVICE from other providers, my competitors, that operate in the same space.\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 PREMIUM SERVICE tab.\r\n\r\nFurther information can be found by clicking TESTIMONIALS, PART-TIME TRADERS and FX PROMOTIONS tabs. To subscribe to THE PREMIUM SERVICE, you will require a valid credit card.\r\n\r\n<u> </u>\r\n\r\n<u>PREMIUM SERVICE PERFORMANCE YEAR TO DATE:</u>\r\n\r\nMONTH TO DATE: +520 pips\r\nYEAR TO DATE:      +1,993 pips\r\n\r\nI am still a little way behind my target. But trading is gathering momentum once again and I am still very confident of achieving my year-end target of 10,000 net profitable pips.\r\n<u>PREMIUM SERVICE –  SUBSCRIBER PROMOTION:</u>\r\n\r\n<strong><u>“DOUBLE IT UP”</u></strong>\r\n\r\nI usually run a PREMIUM SERVICE subscriber promotion at the end of the old year /start of a new year.\r\n\r\nBecause I knew that this year I would be moving home and traveling in Q2, I deliberately decided to wait, to launch a promotion around that time.\r\n\r\nThis is the biggest and I believe the best subscriber promotion that I have ever offered.\r\n\r\nWhat is <strong>“DOUBLE IT UP”</strong> all about…\r\n\r\nBasically, from now until June 30<sup>th,</sup> 2017 anyone who subscribes to the PREMIUM SERVICE through my “SUBSCRIBE HERE” tab at the top of my welcome page will have their subscription period doubled at no extra cost.\r\n\r\nIn addition, all subscriptions regardless of the date of subscribing will not start until June 30th 2017.\r\n\r\nThis means that from the day of joining the PREMIUM SERVICE you will have 100% access. This could give you up to an additional 12 weeks of membership to the PREMIUM SERVICE depending upon the date you subscribe.\r\n\r\nThis 12-week period covers the period that I am moving home and traveling, and therefore there may be days at a time with zero activity, and there will be some because I will be out of coverage and simply on vacation, but it’s all “FREE” in any case, so whatever happens, it is all a bonus anyhow as your subscription period will officially commence June 30th 2017.\r\n\r\nConfirmation of the <strong>“DOUBLE IT UP” </strong>will be contained in the “welcome on board documents” the accompanies your subscription confirmation.\r\n\r\nThis is the best and most generous promotion that I have ever offered since starting the PREMIUM SERVICE and I hope that many of you take advantage.\r\n\r\n<strong><u>IMPORTANT TO NOTE:</u></strong> Joining the PREMIUM SERVICE <strong><u>now</u></strong> on a 10-week subscription gives you a 20-week subscription period with THE DOUBLE IT UP promotion. This basically covers 2017 in total when you allow for the summer break and the delayed promotional start of your subscription period. At CAD$1,000 this is a great opportunity and fantastic value.\r\n\r\nI add below my “DRIVE THRU blog / TRADING date charts for 2017, 2018 and 2019.\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/03/BLOG-DATES-2017-2019.png\"><img class=\"aligncenter size-large wp-image-9300\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/03/BLOG-DATES-2017-2019-1024x621.png\" alt=\"\" width=\"1024\" height=\"621\" /></a>\r\n\r\nPLUS:\r\n\r\nIf you would like to know a little more about THE PREMIUM SERVICE please feel free to watch the following 40-minute video via the link below:\r\n\r\n<a href=\"http://bit.ly/PremServiceQ217\">http://bit.ly/PremServiceQ217</a>\r\n\r\nPLEASE NOTE: the above video is best viewed using a Google Chrome browser.<strong>\r\n\r\n</strong>\r\n<ol start=\"4\">\r\n 	<li><strong> PREMIUM SERVICE – SUBSCRIBER CONTENT AREA:\r\n</strong>(Not available with this version of THE WEEKLY FX DRIVE THRU)</li>\r\n</ol>\r\n<strong> </strong>\r\n<ol start=\"5\">\r\n 	<li><strong> THE SOAPBOX:</strong></li>\r\n</ol>\r\n<p style=\"text-align: center;\"><strong>FRENCH POLITICS and THE FED… MOVING FORWARD</strong></p>\r\nYou would probably think that from my commentary in the introduction I would be over my ranting and positioning on my soapbox?\r\n\r\nThink again; as you know I love politics and I believe that politics and forex are so closely inter-twinned, the push ‘n pull relationship is hard to break apart and dissect. At times the FX BLOG can be very POLITICAL in places.\r\n\r\nThe title FRENCH POLITICS and THE FED is a little misleading. It is my blog, my thoughts and opinions so I can collate titles and themes as I want to.\r\n\r\nWhere to start: -\r\n\r\nFRENCH POLITICS:\r\n\r\nThe single currency has been under tremendous down side pressure in the past two weeks. All rallies have been selling opportunities and have been well capped.\r\n\r\nTechnical traders are both confused and baffled at the same time as to why the market can see no value in the EUR from spikes and potential sentiment changes.\r\n\r\nFundamentals will trump technicals and we are in a news driven market at the moment where geopolitical news trumps everything. I would rather trust fundamentals in the current market above all else.\r\n\r\nThe French Presidential election has opened a new chapter and the balance of persuasion is shifting. Let me elaborate on my thoughts as to why those pen pushing, desk sucking, jotter blotters in Brussels have twitchy bottoms.\r\n\r\nUp until about three weeks ago, the race for the next President of France was by all accounts a done deal. The pundits had done all their calculations and basically it was most likely to be either a Le Pen or Macron victory in the first round of voting with both going through to the second round with Macron beating Le Pen by a hefty margin.\r\n\r\nIt has been a tame French Presidential election so far, with only the odd scandal, no stories involving the front runners with a sex scandal involving a wet lettuce, whipped cream and an egg whisk. All was relatively calm for a French election.\r\n\r\nEnter, the far-left candidate Jean-Luc Melenchon.\r\n\r\nFrance has always been a sucker for unionism and being bolshie, Holy Mother of God all the poor French laws that once existed in France, now repealed, are still alive and thriving here in Quebec!! There is a state of “Non-Satiety” here in Quebec, no let up at all.\r\n\r\nBack to my point…\r\n\r\nThe latest election poll from Ipsos-Sterna for newspaper Le Monde shows the following: -\r\n\r\nApril 23rd, 2017 first round voting: -\r\n\r\nEmmanuel Macron (Centrist Party):         22%\r\nMarine Le Pen (French National Front): 22%\r\nJean-Luc Melenchon (Far Left):               20%\r\nFrancois Fillon (Conservative):                 19%\r\n\r\n(Second round voting is on May 7th, 2017)\r\n\r\nAs I said, I love politics, and the above positions say several things to me.\r\n<ol>\r\n 	<li>If this poll is accurate. This election is too close to call.</li>\r\n 	<li>How on earth can you say with any degree of confidence who will progress into the second round?</li>\r\n</ol>\r\nThe question that leaps off the page at me is the following, and, I think that this is one major reason why the single currency is un-ceremonially dumped on spikes.\r\n\r\nDo you think that Far Left and Far Right voters would unite in a second round of voting against the mainstream thinking?\r\n\r\nIf so… there is a huge chance that a populist candidate could be victorious and then its bye bye Brussels, bye bye EUR and probably bye bye the EUROPEAN UNION.\r\n\r\nYou can see from the chart below that the EUR/USD is sold aggressively into the 1.0665 – 1.0690 level. The extended wicks back up my thoughts of the market seeing no value as there is no following through.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/EURUSD-DAILY-CHART-FOR-BLOG-16042017.png\"><img class=\"aligncenter size-large wp-image-9430\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/EURUSD-DAILY-CHART-FOR-BLOG-16042017-1024x495.png\" alt=\"\" width=\"1024\" height=\"495\" /></a>\r\n\r\n&nbsp;\r\n\r\nTHE FED:\r\n\r\nAbsolutely no connection to the FRENCH POLITICAL scene but just as intriguing.\r\n\r\nI am going to re-visit this in detail, I just have to.\r\n\r\nThe following is all my theory based upon the re-appointments due with the FED.\r\n\r\nAt this moment in time I believe that TRUMP is going to try to remove the FED’S independence. I see TRUMP as a currency manipulator himself and it would not surprise me to see him exert control on U.S. interest rates moving forward.\r\n\r\nI believe he will approach the FED in a stealth manner / style of approach.\r\n\r\nIn the next 12 months. Both Janet Yellen, Fed Chair and, Stanley Fischer, Deputy Chairman plus 3 board members need to be replaced as there are vacancies, plus we have the usual round–robin of voting to non-voting members being shuffled.\r\n\r\n“THE DONALD” believes he is so popular and that to fuel his popularity further, keeping a lid on interest rates would serve him better based upon his future policies that he hopes to push through.\r\n\r\nThe FED who are trying to normalize monetary policy are screwing with his plans.\r\n\r\nHe has the chance to appoint nothing but “DOVES” to the board in all capacities and effectively “cook the books”, to fiddle policy moving forward to meet his administrations objectives.\r\n\r\nHe would make it his business to have a hold over those “newbies” appointed. It’s what he does.\r\n\r\nTherefore, with White House influence “THE DONNALD” will become in my opinion the biggest currency manipulator of all time\r\n\r\nCould this happen?\r\n\r\nDoes he just need to sign an executive order to make it so?\r\n\r\nWill he drive this thru a Republican owned congress?\r\n\r\nFrom a trading perspective, we must be ready for something here in my opinion. My entire year is based a huge amount upon central bank monetary policy divergence. Instead… it could be based on a new race to the bottom.\r\n\r\nThink about that over the next two weeks whilst I am moving house….\r\n\r\n&nbsp;\r\n<ol start=\"6\">\r\n 	<li><strong> CLOSING THOUGHTS:</strong></li>\r\n</ol>\r\nNothing more to add here, I have said enough except,\r\n\r\nAs usual…\r\n\r\nAlways remember longevity in Forex trading can only be achieved through trading with good RISK and MONEY MANAGEMENT, and above all set your position sizes in accordance with the size of your account and allow for some flexibility.\r\n\r\nTake care, have a great trading week and see you next on May 14th, 2017\r\n\r\nScott Pickering\r\nThe Pip Accumulator\r\nTwitter: @pipaccumulator\r\n<a href=\"http://weeklyfxdrivethru.com/disclaimer/\">http://weeklyfxdrivethru.com/disclaimer/</a>\r\n\r\n&nbsp;', 'FOR GOD’S SAKE, THIS IS NOTHING MORE THAN ”POT KETTLE BLACK, EGO, HAIRSPRAY, TWEETS & FLIP FLOPPING”', '', 'inherit', 'closed', 'closed', '', '9443-revision-v1', '', '', '2017-04-15 12:17:49', '2017-04-15 17:17:49', '', 9443, 'https://weeklyfxdrivethru.com/9443-revision-v1/', 0, 'revision', '', 0);
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(9455, 1, '2017-04-21 09:10:17', '2017-04-21 14:10:17', '&nbsp;\r\n\r\n&nbsp;\r\n<ol>\r\n 	<li><strong>INTRODUCTION:</strong></li>\r\n</ol>\r\nI am at the moment in the middle of packing, preparing for a house move from Quebec to Nova Scotia, which, is followed very quickly with a trip to New Zealand and Australia. In the full knowledge that over the next two months, I will be away from my office and screens for long periods at a time, I have been setting up my longer-term (POSITION) trades to reflect this. To accommodate our house move, this blog is the last one for two weeks, the next “DRIVE THRU” is scheduled for release on the 14th May.\r\n\r\nLast week and this coming week are shorter trading weeks to cover the Easter holidays, so trading volumes will be lower as traders look to add vacation days either side of the public holidays to take full advantage of time away from the office. This is a great time to conduct full chart reviews and analysis and, for me, knowing that I will be moving and traveling it allowed me time to build up a book of potential LIMIT ORDERS to add to my core positions.\r\n\r\nWhen will I learn? I have been writing and tweeting about the loose cannon “TRUMP” with his twitter account, stating be ready for the unexpected and trade nimble. Last Wednesday, my wife and I had a few action items to complete ahead of our house move. I left the house with my open trades in great shape. I was tempted to bank $$$ and take pips, but made the call that momentum and trends were in play and decided to review the open positions based upon Wednesday’s closing candles.\r\n\r\nFFS; TRUMP does it again. He walks back another key campaign promise by not declaring CHINA a currency manipulator, and jawbones the USD lower in a WSJ interview / article.\r\n\r\nThe result was the DXY fell from basically 101.00 down to just sub 100.00. Five limit orders triggered and my trading book inverted. Basically, I was looking at a sea of “red numbers” when returning home.\r\n\r\nI tweeted to subscribers that I expected pullbacks to occur through the following Asian and European sessions on Thursday. That did not happen to the extent that I had thought, but the New York session did the trick and I decided given the heightened geopolitical risk going into the Easter weekend to remove trades.\r\n\r\nWhilst, I did not really want to remove tiny profitable trades off the table, with what had happened the previous day and with warplanes in the sky and the fleet in the China Sea, to reduce RISK seemed sensible.  I took about 100 pips off the table in profits. It really is a grab ‘n’ go market at times.\r\n\r\nThroughout this entire market move, there appeared to be very few traders on twitter admitting to having suffered on this news event. Was I the only poor sod long the USD at that time?\r\n\r\nLooking at twitter it appears so… do I need to spell it out again about twitter?\r\n\r\nMoving on and back to “THE DONALD”\r\n\r\nHis dictatorship style must be pissing off his cabinet, he undermines Rex Tillerson and now by saying that China is NOT a currency manipulator he undermines and steals away the thunder from Steven Mnuchin’s treasury office review and report on Easter Monday about currency manipulation. This makes TRUMP himself responsible in a way for a LEAK of an official document ahead of its due date. I know he is the President and all that… but lead by fecking example. Keep it in your pants for God’s sake.\r\n\r\n<strong>FFS… “POT KETTLE BLACK, EGO, HAIRSPRAY, </strong><strong>TWEETS &amp; FLIP FLOPPING”</strong>\r\n\r\nThen in that same interview TRUMP jawboned the USD lower (that was the move talked about above), on the back of “people think I’m doing a great job and the USD has strengthened as a result but it’s too strong because of the confidence they have in me, it should be lower”.\r\n\r\nFFS… What a load of bollocks.\r\n\r\nTRUMP’S first 100 days would have been nothing short of a colossal F**K UP so far had he not carried out a missile strike on Syria and unloaded the MOAB (“Mother of All Bombs” on Afghanistan). The gun lobbyists and other far right sections of US society must be loving this. It’s like an episode of “Deadwood” gun-ho politics from the wild west in 2017.\r\n\r\nThe attacks are a distraction from the many main events, such as “THE DONALD” simply cannot figure out how to deal with career politicians. So, he’s not that smart, just a huge ego and there are still no “great deals”. Every campaign promise made with such confidence has so far been walked back. He is “flip- flopping” on the fundamentals he was elected for in his manifesto. So much for draining the swamp he is being consumed by the very aspect of D.C. he stated unequivocally that he would fix.\r\n\r\nObamacare; the repeal / replacement call it what you want, was an absolute failed dictatorship approach and the Republican party needs to look in the mirror and question their professionalism. After 8 years in the wings with time to prepare and given it was a front and centre policy for the election its failure to pass shows how poor U.S. politicians are. There are simply no excuses.\r\n\r\nWhere is his wall?\r\nWhere are the trade deals?\r\nWhat about taxes?\r\nWhat about all the infrastructure promises?\r\nWhat about the quick fix on repatriation of offshore US funds?\r\n\r\nI may be a little unfair with the above. Yes, I acknowledge that TRUMP alone won the election for the Republicans and he did it without a party machine behind him. It makes the Hillary Clinton failure even more catastrophic and shows that the Democrats were out of touch. The elitist approach taken by Hillary was doomed from day one, but like most leaders she surrounded herself with “YES” people.\r\n\r\nHowever, the first 100 days: So far; It’s just phony, the US voters have been seriously duped by TRUMP; It’s just ego and hairspray.\r\n\r\nFinally, on “THE DONALD”\r\n\r\nLet me get this off my chest….\r\n\r\nJawboning is a form of currency manipulation, just as Quantitative Easing (QE) is as well. The US was and still is in my opinion a CURRENCY MANIPULATOR and in more recent history was the first to promote manipulation following the 2008-9 Financial crash.\r\n\r\nRight now, I feel that the TRUMP administration so far is …\r\n\r\n<strong>NOTHING MORE THAN ”POT KETTLE BLACK, EGO, HAIRSPRAY, </strong><strong>TWEETS &amp; FLIP FLOPPING”</strong>\r\n\r\nI feel much better after that…\r\n\r\nLast week’s economic data was centered around the BOC interest rate decision and the Aussie Jobs, with the USD inflation and sentiment numbers.\r\n\r\nStephen Poloz at the BOC was basically a yawn fest. He spoke about improvements and the housing issues across Canada. He will do a Donald, and walk this back next time around. Watch this space.\r\n\r\nAussie jobs were a blowout; incredible numbers: - 61,000 new jobs versus the forecast of 21,000. The full-time / part-time ratios were impressive.\r\n\r\nWith regards to the US consumer confidence numbers; the Preliminary reading was at 98.00. This is big number and despite everything that I have observed and the media have played down, the positive TRUMP EFFECT feeling in the U.S. remains intact. Confidence in TRUMP and confidence in the U.S. economy is high. It was 98.6 in January after the Presidential inauguration and although it dipped for a bit, it is back up again.\r\n\r\nThe inflation aspect is still looking to be around the 2.5% mark in 2018. This number will fuel a whole host of issues regarding FED policy and TRUMP’S desire for low rates. The cynic in me says he wants low borrowing costs not as much for America but for his family business interests, which he longer has an interest in… yeah right, my arse!\r\n\r\nThen on Good Friday we had weak CPi Retail Sales data which basically shows from a macro and some might say micro level that the consumer is pulling back…. uncertain.\r\n\r\nContrasting U.S. data. One month’s data will not reverse FED policy but it clearly shows how difficult this stuff is to trend from a Central bank perspective.\r\n\r\nMoving on…\r\n\r\nTHE WEEKLY FX DRIVE THRU – LIVE webinars.\r\n\r\n#10 this Monday 17th April at 5:30PM.\r\n<ul>\r\n 	<li>To attend live - you need Google Chrome as a browser.</li>\r\n 	<li>You cannot view on smart phones or tablets, only Laptops and Desktops.</li>\r\n</ul>\r\nThe “LIVE WEBINAR” link is below: -\r\n\r\n<a href=\"http://bit.ly/drivethru-live\">http://bit.ly/drivethru-live</a>\r\n\r\nIf you cannot listen live you can check out my You Tube channel,\r\n<strong><em>Scott Pickering</em></strong> <strong><em>Weekly FX Drive Thru</em></strong> for a freshly posted copy of the webinar, usually, within a couple of hours of its completion.\r\n\r\nHere is the link for my you tube channel, when I get to 100 subscribers (if I get there) I can have my own personalized shortened link. If you like the style of my webinar, please subscribe. The benefits are that as soon as a new webinar is posted you are emailed.: -\r\n\r\n<a href=\"https://www.youtube.com/channel/UCV-9VDnNkHjTPBzKqLqCGJw/videos\">https://www.youtube.com/channel/UCV-9VDnNkHjTPBzKqLqCGJw/videos</a>\r\n\r\nAlmost there…\r\n\r\nIf you would like to be in the monthly draw to win a “FREE 10-WEEK SUBSCRIPTION” to the PREMIUM SERVICE, valued at CAD$1,000.00, all you have to do is subscribe to receive this FREE NEWSLETTER on my website <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a>  On my welcome page just below my cube logo is where you complete your subscription.\r\n\r\n<strong> </strong>\r\n<ol start=\"2\">\r\n 	<li><strong> THE FX MARKET PLACE – LOOKING FORWARD:</strong></li>\r\n</ol>\r\n<u>ECONOMIC DATA RELEASES:</u>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/ECON-DATA-16042017.png\"><img class=\"aligncenter size-large wp-image-9427\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/ECON-DATA-16042017-1024x749.png\" alt=\"\" width=\"1024\" height=\"749\" /></a>\r\n\r\n&nbsp;\r\n\r\n<u>MY THOUGHTS ON THE WEEK AHEAD:</u>\r\n\r\nNothing much this week for me from Economic Data releases, however, I think that geopolitical news will continue to dominate proceedings: -\r\n<ol>\r\n 	<li>GBP: Retail Sales numbers are released on Friday. This is always going to be an interesting number to follow given the BREXIT process. The PMi numbers were largely disappointing; two out of three were poor.Consumer confidence and sales numbers are important to the UK especially at this time, given the inflation issues that are creeping into the UK economy. How will this inflation effect retail sales?</li>\r\n 	<li>OPEC: WE have a two-day OPEC meeting that concludes on the Saturday of next weekend.I know that one should be serious about OPEC but I do find the “CARTEL” similar to a bunch of misfits allegedly united. If history repeats itself the production cut will fall off the page the longer they try to keep it in place.\r\n\r\nI maintain my view expressed, almost every week, as I review WTi on the WEEKLY FX DRIVE THRU – LIVE WEBINAR, which is, that as soon as OIL hits $60.00 a barrel should it ever get there again, US Shale producers will be leaping back into the market in numbers. OIL is a pure and very simple supply and demand commodity.</li>\r\n</ol>\r\nObviously, the BREXIT news will be on the wires at ad-hoc times. I am however, expecting this to calm down as the 27 members of the EU do not meet to formally discuss BREXIT until the end of April and negotiations do not start until the end of May. Nevertheless, we still should be on our toes.\r\n\r\n<u>USD MAJORS – “IMMEDIATE” SUPPORT &amp; RESISTANCE:</u>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/TCHART-16042017.png\"><img class=\"aligncenter size-large wp-image-9426\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/TCHART-16042017-1024x857.png\" alt=\"\" width=\"1024\" height=\"857\" /></a>\r\n\r\n&nbsp;\r\n\r\nThe charts below contain commentary (my thoughts and views), these are the USD major charts that are reflected in the spreadsheet above.\r\n<strong>EUR/USD:</strong>\r\n\r\n<strong><a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/EURUSD-DAILY-16042017.png\"><img class=\"aligncenter size-large wp-image-9429\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/EURUSD-DAILY-16042017-1024x472.png\" alt=\"\" width=\"1024\" height=\"472\" /></a> </strong>\r\n\r\n<strong> </strong>\r\n\r\n<strong>GBP/USD:</strong>\r\n\r\n<strong><a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/GBPUSD-DAILY-16042017.png\"><img class=\"aligncenter size-large wp-image-9431\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/GBPUSD-DAILY-16042017-1024x472.png\" alt=\"\" width=\"1024\" height=\"472\" /></a> </strong>\r\n\r\n<strong> </strong>\r\n\r\n<strong>AUD/USD:</strong>\r\n\r\n<strong> <a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/AUDUSD-DAILY-16042017.png\"><img class=\"aligncenter size-large wp-image-9428\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/AUDUSD-DAILY-16042017-1024x472.png\" alt=\"\" width=\"1024\" height=\"472\" /></a></strong>\r\n\r\n<strong> </strong>\r\n\r\n<strong>NZD/USD:</strong>\r\n\r\n<strong> <a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/NZDUSD-DAILY-16042017.png\"><img class=\"aligncenter size-large wp-image-9432\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/NZDUSD-DAILY-16042017-1024x472.png\" alt=\"\" width=\"1024\" height=\"472\" /></a></strong>\r\n\r\n<strong> </strong>\r\n\r\n<strong>USD/CAD:</strong>\r\n\r\n<strong> <a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/USDCAD-DAILY-16042017.png\"><img class=\"aligncenter size-large wp-image-9434\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/USDCAD-DAILY-16042017-1024x472.png\" alt=\"\" width=\"1024\" height=\"472\" /></a></strong>\r\n\r\n<strong> </strong>\r\n\r\n<strong>USD/CHF:</strong>\r\n\r\n<strong> <a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/USDCHF-DAILY-16042017.png\"><img class=\"aligncenter size-large wp-image-9435\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/USDCHF-DAILY-16042017-1024x472.png\" alt=\"\" width=\"1024\" height=\"472\" /></a></strong>\r\n\r\n<strong> </strong>\r\n\r\n<strong>USD/JPY:</strong>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/USDJPY-DAILY-16042017.png\"><img class=\"aligncenter size-large wp-image-9436\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/USDJPY-DAILY-16042017-1024x472.png\" alt=\"\" width=\"1024\" height=\"472\" /></a>\r\n\r\n&nbsp;\r\n\r\n<strong>\r\n</strong>\r\n<ol start=\"3\">\r\n 	<li><strong> THE PREMIUM SERVICE:</strong></li>\r\n</ol>\r\n<u>WHAT IS THE PREMIUM SERVICE?</u>\r\n\r\nThe PREMIUM SERVICE is a subscriber based Forex support service offering not just trade set-ups, but a bunch of different support services that differentiates the PREMIUM SERVICE from other providers, my competitors, that operate in the same space.\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 PREMIUM SERVICE tab.\r\n\r\nFurther information can be found by clicking TESTIMONIALS, PART-TIME TRADERS and FX PROMOTIONS tabs. To subscribe to THE PREMIUM SERVICE, you will require a valid credit card.\r\n\r\n<u> </u>\r\n\r\n<u>PREMIUM SERVICE PERFORMANCE YEAR TO DATE:</u>\r\n\r\nMONTH TO DATE: +520 pips\r\nYEAR TO DATE:      +1,993 pips\r\n\r\nI am still a little way behind my target. But trading is gathering momentum once again and I am still very confident of achieving my year-end target of 10,000 net profitable pips.\r\n<u>PREMIUM SERVICE –  SUBSCRIBER PROMOTION:</u>\r\n\r\n<strong><u>“DOUBLE IT UP”</u></strong>\r\n\r\nI usually run a PREMIUM SERVICE subscriber promotion at the end of the old year /start of a new year.\r\n\r\nBecause I knew that this year I would be moving home and traveling in Q2, I deliberately decided to wait, to launch a promotion around that time.\r\n\r\nThis is the biggest and I believe the best subscriber promotion that I have ever offered.\r\n\r\nWhat is <strong>“DOUBLE IT UP”</strong> all about…\r\n\r\nBasically, from now until June 30<sup>th,</sup> 2017 anyone who subscribes to the PREMIUM SERVICE through my “SUBSCRIBE HERE” tab at the top of my welcome page will have their subscription period doubled at no extra cost.\r\n\r\nIn addition, all subscriptions regardless of the date of subscribing will not start until June 30th 2017.\r\n\r\nThis means that from the day of joining the PREMIUM SERVICE you will have 100% access. This could give you up to an additional 12 weeks of membership to the PREMIUM SERVICE depending upon the date you subscribe.\r\n\r\nThis 12-week period covers the period that I am moving home and traveling, and therefore there may be days at a time with zero activity, and there will be some because I will be out of coverage and simply on vacation, but it’s all “FREE” in any case, so whatever happens, it is all a bonus anyhow as your subscription period will officially commence June 30th 2017.\r\n\r\nConfirmation of the <strong>“DOUBLE IT UP” </strong>will be contained in the “welcome on board documents” the accompanies your subscription confirmation.\r\n\r\nThis is the best and most generous promotion that I have ever offered since starting the PREMIUM SERVICE and I hope that many of you take advantage.\r\n\r\n<strong><u>IMPORTANT TO NOTE:</u></strong> Joining the PREMIUM SERVICE <strong><u>now</u></strong> on a 10-week subscription gives you a 20-week subscription period with THE DOUBLE IT UP promotion. This basically covers 2017 in total when you allow for the summer break and the delayed promotional start of your subscription period. At CAD$1,000 this is a great opportunity and fantastic value.\r\n\r\nI add below my “DRIVE THRU blog / TRADING date charts for 2017, 2018 and 2019.\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/03/BLOG-DATES-2017-2019.png\"><img class=\"aligncenter size-large wp-image-9300\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/03/BLOG-DATES-2017-2019-1024x621.png\" alt=\"\" width=\"1024\" height=\"621\" /></a>\r\n\r\nPLUS:\r\n\r\nIf you would like to know a little more about THE PREMIUM SERVICE please feel free to watch the following 40-minute video via the link below:\r\n\r\n<a href=\"http://bit.ly/PremServiceQ217\">http://bit.ly/PremServiceQ217</a>\r\n\r\nPLEASE NOTE: the above video is best viewed using a Google Chrome browser.\r\n\r\n&nbsp;\r\n<ol start=\"4\">\r\n 	<li><strong> PREMIUM SERVICE – SUBSCRIBER CONTENT AREA:\r\n</strong>(Not available with this version of THE WEEKLY FX DRIVE THRU)</li>\r\n</ol>\r\n<strong> </strong>\r\n<ol start=\"5\">\r\n 	<li><strong> THE SOAPBOX:</strong></li>\r\n</ol>\r\n<p style=\"text-align: center;\"><strong>FRENCH POLITICS and THE FED… MOVING FORWARD</strong></p>\r\nYou would probably think that from my commentary in the introduction I would be over my ranting and positioning on my soapbox?\r\n\r\nThink again; as you know I love politics and I believe that politics and forex are so closely inter-twinned, the push ‘n pull relationship is hard to break apart and dissect. At times the FX BLOG can be very POLITICAL in places.\r\n\r\nThe title FRENCH POLITICS and THE FED is a little misleading. It is my blog, my thoughts and opinions so I can collate titles and themes as I want to.\r\n\r\nWhere to start: -\r\n\r\nFRENCH POLITICS:\r\n\r\nThe single currency has been under tremendous down side pressure in the past two weeks. All rallies have been selling opportunities and have been well capped.\r\n\r\nTechnical traders are both confused and baffled at the same time as to why the market can see no value in the EUR from spikes and potential sentiment changes.\r\n\r\nFundamentals will trump technicals and we are in a news driven market at the moment where geopolitical news trumps everything. I would rather trust fundamentals in the current market above all else.\r\n\r\nThe French Presidential election has opened a new chapter and the balance of persuasion is shifting. Let me elaborate on my thoughts as to why those pen pushing, desk sucking, jotter blotters in Brussels have twitchy bottoms.\r\n\r\nUp until about three weeks ago, the race for the next President of France was by all accounts a done deal. The pundits had done all their calculations and basically it was most likely to be either a Le Pen or Macron victory in the first round of voting with both going through to the second round with Macron beating Le Pen by a hefty margin.\r\n\r\nIt has been a tame French Presidential election so far, with only the odd scandal, no stories involving the front runners with a sex scandal involving a wet lettuce, whipped cream and an egg whisk. All was relatively calm for a French election.\r\n\r\nEnter, the far-left candidate Jean-Luc Melenchon.\r\n\r\nFrance has always been a sucker for unionism and being bolshie, Holy Mother of God all the poor French laws that once existed in France, now repealed, are still alive and thriving here in Quebec!! There is a state of “Non-Satiety” here in Quebec, no let up at all.\r\n\r\nBack to my point…\r\n\r\nThe latest election poll from Ipsos-Sterna for newspaper Le Monde shows the following: -\r\n\r\nApril 23rd, 2017 first round voting: -\r\n\r\nEmmanuel Macron (Centrist Party):         22%\r\nMarine Le Pen (French National Front): 22%\r\nJean-Luc Melenchon (Far Left):               20%\r\nFrancois Fillon (Conservative):                 19%\r\n\r\n(Second round voting is on May 7th, 2017)\r\n\r\nAs I said, I love politics, and the above positions say several things to me.\r\n<ol>\r\n 	<li>If this poll is accurate. This election is too close to call.</li>\r\n 	<li>How on earth can you say with any degree of confidence who will progress into the second round?</li>\r\n</ol>\r\nThe question that leaps off the page at me is the following, and, I think that this is one major reason why the single currency is un-ceremonially dumped on spikes.\r\n\r\nDo you think that Far Left and Far Right voters would unite in a second round of voting against the mainstream thinking?\r\n\r\nIf so… there is a huge chance that a populist candidate could be victorious and then its bye bye Brussels, bye bye EUR and probably bye bye the EUROPEAN UNION.\r\n\r\nYou can see from the chart below that the EUR/USD is sold aggressively into the 1.0665 – 1.0690 level. The extended wicks back up my thoughts of the market seeing no value as there is no following through.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/EURUSD-DAILY-CHART-FOR-BLOG-16042017.png\"><img class=\"aligncenter size-large wp-image-9430\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/04/EURUSD-DAILY-CHART-FOR-BLOG-16042017-1024x495.png\" alt=\"\" width=\"1024\" height=\"495\" /></a>\r\n\r\n&nbsp;\r\n\r\nTHE FED:\r\n\r\nAbsolutely no connection to the FRENCH POLITICAL scene but just as intriguing.\r\n\r\nI am going to re-visit this in detail, I just have to.\r\n\r\nThe following is all my theory based upon the re-appointments due with the FED.\r\n\r\nAt this moment in time I believe that TRUMP is going to try to remove the FED’S independence. I see TRUMP as a currency manipulator himself and it would not surprise me to see him exert control on U.S. interest rates moving forward.\r\n\r\nI believe he will approach the FED in a stealth manner / style of approach.\r\n\r\nIn the next 12 months. Both Janet Yellen, Fed Chair and, Stanley Fischer, Deputy Chairman plus 3 board members need to be replaced as there are vacancies, plus we have the usual round–robin of voting to non-voting members being shuffled.\r\n\r\n“THE DONALD” believes he is so popular and that to fuel his popularity further, keeping a lid on interest rates would serve him better based upon his future policies that he hopes to push through.\r\n\r\nThe FED who are trying to normalize monetary policy are screwing with his plans.\r\n\r\nHe has the chance to appoint nothing but “DOVES” to the board in all capacities and effectively “cook the books”, to fiddle policy moving forward to meet his administrations objectives.\r\n\r\nHe would make it his business to have a hold over those “newbies” appointed. It’s what he does.\r\n\r\nTherefore, with White House influence “THE DONNALD” will become in my opinion the biggest currency manipulator of all time\r\n\r\nCould this happen?\r\n\r\nDoes he just need to sign an executive order to make it so?\r\n\r\nWill he drive this thru a Republican owned congress?\r\n\r\nFrom a trading perspective, we must be ready for something here in my opinion. My entire year is based a huge amount upon central bank monetary policy divergence. Instead… it could be based on a new race to the bottom.\r\n\r\nThink about that over the next two weeks whilst I am moving house….\r\n\r\n&nbsp;\r\n<ol start=\"6\">\r\n 	<li><strong> CLOSING THOUGHTS:</strong></li>\r\n</ol>\r\nNothing more to add here, I have said enough except,\r\n\r\nAs usual…\r\n\r\nAlways remember longevity in Forex trading can only be achieved through trading with good RISK and MONEY MANAGEMENT, and above all set your position sizes in accordance with the size of your account and allow for some flexibility.\r\n\r\nTake care, have a great trading week and see you next on May 14th, 2017\r\n\r\nScott Pickering\r\nThe Pip Accumulator\r\nTwitter: @pipaccumulator\r\n<a href=\"http://weeklyfxdrivethru.com/disclaimer/\">http://weeklyfxdrivethru.com/disclaimer/</a>\r\n\r\nBLOG VERSION: #239 FREE NEWSLETTER\r\nDATE: 16th April 2017.', 'FOR GOD’S SAKE, THIS IS NOTHING MORE THAN ”POT KETTLE BLACK, EGO, HAIRSPRAY, TWEETS & FLIP FLOPPING”', '', 'inherit', 'closed', 'closed', '', '9443-revision-v1', '', '', '2017-04-21 09:10:17', '2017-04-21 14:10:17', '', 9443, 'https://weeklyfxdrivethru.com/9443-revision-v1/', 0, 'revision', '', 0),
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(9496, 1, '2017-05-14 12:27:04', '2017-05-14 17:27:04', '&nbsp;\r\n\r\n&nbsp;\r\n<ol>\r\n 	<li><strong>INTRODUCTION:</strong></li>\r\n</ol>\r\nI usually start off my weekly blog with a personal comment about how I currently feel about trading and the markets in general. Not wanting to be stereotyped I thought I would do something a little different this time.\r\n\r\nHaving made the 13-hour drive / move from Quebec we are now set up in Nova Scotia in Atlantic Canada known as the Maritimes.  I am sitting at my desk with a view of forest to the side and back of our lawns, which are now fenced in to ensure that Ozzy and Aoife (Labradors) do not go a wandering and disappear.\r\n\r\nPREMIUM SERVICE subscribers are aware that I attempted to return to trading last Monday but I quickly realized that was way too ambitious given the ongoing emptying of boxes, arranging of furniture etc., and the needs required based around the general house set up.\r\n\r\nI am now going to be trading for the next two weeks, including the long flight to Auckland via Toronto and Hong Kong and the first week in New Zealand. Then I am on vacation. Trading is a little dis-jointed affair at the moment, I am scheduled back to 100% with a full and total uninterrupted return to trading on Tuesday June 13th.\r\n\r\nDespite all the activity that one has surrounding a house move, I have kept myself somewhat in touch by reading a huge amount of market commentaries. In fact, last week, I was around to see the poor US data being released, comments from Mark Carney and Mario Draghi taking the heat from Dutch MP’s, hence the title of this blog and for my “SOAPBOX” comment later.\r\n\r\nMoving on…\r\n\r\nTHE WEEKLY FX DRIVE THRU – LIVE webinars.\r\n\r\n#12 this Monday 15th May at 5:30PM.\r\n(After this Monday the next webinar is scheduled for June 19th, 2017)\r\n<ul>\r\n 	<li>To attend live - you need Google Chrome as a browser.</li>\r\n 	<li>You cannot view on smart phones or tablets, only Laptops and Desktops.</li>\r\n</ul>\r\nThe “LIVE WEBINAR” link is below: -\r\n\r\n<a href=\"http://bit.ly/drivethru-live\">http://bit.ly/drivethru-live</a>\r\n\r\nIf you cannot listen live you can check out my You Tube channel,\r\n<strong><em>Scott Pickering</em></strong> <strong><em>Weekly FX Drive Thru</em></strong> for a freshly posted copy of the webinar, usually, within a couple of hours of its completion.\r\n\r\nHere is the link for my you tube channel, when I get to 100 subscribers (if I get there) I can have my own personalized shortened link. If you like the style of my webinar, please subscribe. The benefits are that as soon as a new webinar is posted you are emailed.: -\r\n\r\n<a href=\"https://www.youtube.com/channel/UCV-9VDnNkHjTPBzKqLqCGJw/videos\">https://www.youtube.com/channel/UCV-9VDnNkHjTPBzKqLqCGJw/videos</a>\r\n\r\nAlmost there,\r\n\r\nIf you would like to be in the monthly draw to win a “FREE 10-WEEK SUBSCRIPTION” to the PREMIUM SERVICE, valued at CAD$1,000.00, all you have to do is subscribe to receive this FREE NEWSLETTER on my website <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a>  On my welcome page just below my cube logo is where you complete your subscription.\r\n\r\n<strong> </strong><strong> </strong>\r\n<ol start=\"2\">\r\n 	<li><strong> THE FX MARKET PLACE – LOOKING FORWARD:</strong></li>\r\n</ol>\r\n<u>ECONOMIC DATA RELEASES:</u>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/05/ECON-DATA-14052017.png\"><img class=\"aligncenter size-large wp-image-9485\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/05/ECON-DATA-14052017-1024x743.png\" alt=\"\" width=\"1024\" height=\"743\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n<u>MY THOUGHTS ON THE WEEK AHEAD:</u>\r\n\r\nLooking at what is on the timetable this week really has me focused on just two currencies, Cable and the Kiwi dollar.\r\n<ol>\r\n 	<li>GBP: Retail Sales numbers are released on Thursday. This is always going to be an interesting number to follow given the BREXIT process.Consumer Prices are out on Tuesday and Average Earnings on Wednesday. The UK data is always a biggie given the BOE position on inflation and interest rates. Given the household budgets squeeze with inflation on the move higher, is the UK at the beginning of a slowdown?At the moment, I am long GBP/USD and I have let +140 pips positions fall away to +8 pips and then watch cable bounce back up again. The GBP/USD has simply just not motored higher through 1.3000 towards 1.3500 which many commentators were convinced that it would do. What does not go up only has one way to go!</li>\r\n 	<li>NZD: This pair looks to me as if it is dangling on the edge of a cliff ready to jump off.This week we see Retail Sales, Dairy Auction prices and Producer Prices data all being released. This could be a make or break week for the Kiwi dollar.I do not want to sound over dramatic but the NZD move lower wanted by the RBNZ could gather some real momentum and once again head towards 0.6500, which was the target level indicated by previous Prime Minister John Key, I am probably correct in assuming the current Prime Minister Bill English would not object to the same level.</li>\r\n 	<li>OIL, TRUMP, BREXIT and THE EUROZONE: Always remember we are continually just seconds away from a TRUMP TWEET, an OPEC member comment on production cuts, a Theresa May comment on a HARD BREXIT or a “jotter blotter” from Brussels making a 30 seconds of fame style media comment that can all rock the markets.Trading Forex is so susceptible to these factors, this is the main reason that I now trade smaller with wider stops to accommodate the unexpected.</li>\r\n</ol>\r\n<u>USD MAJORS – “IMMEDIATE” SUPPORT &amp; RESISTANCE:</u>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/05/TCHART-14052017.png\"><img class=\"aligncenter size-large wp-image-9486\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/05/TCHART-14052017-1024x854.png\" alt=\"\" width=\"1024\" height=\"854\" /></a>\r\n\r\n&nbsp;\r\n\r\nThe charts below contain commentary (my thoughts and views), these are the USD major charts that are reflected in the spreadsheet above.\r\n\r\n<strong>EUR/USD:</strong>\r\n\r\n<strong> <a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/05/EURUSD-DAILY-14052017.png\"><img class=\"aligncenter size-large wp-image-9490\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/05/EURUSD-DAILY-14052017-1024x438.png\" alt=\"\" width=\"1024\" height=\"438\" /></a></strong>\r\n\r\n<strong> </strong>\r\n\r\n<strong>GBP/USD:</strong>\r\n\r\n<strong> <a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/05/GBPUSD-DAILY-14052017.png\"><img class=\"aligncenter size-large wp-image-9491\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/05/GBPUSD-DAILY-14052017-1024x438.png\" alt=\"\" width=\"1024\" height=\"438\" /></a></strong>\r\n\r\n<strong> </strong>\r\n\r\n<strong>AUD/USD:</strong>\r\n\r\n<strong><a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/05/AUDUSD-DAILY-14052017.png\"><img class=\"aligncenter size-large wp-image-9489\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/05/AUDUSD-DAILY-14052017-1024x438.png\" alt=\"\" width=\"1024\" height=\"438\" /></a> </strong>\r\n\r\n<strong> </strong>\r\n\r\n<strong>NZD/USD:</strong>\r\n\r\n<strong> <a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/05/NZDUSD-DAILY-14052017.png\"><img class=\"aligncenter size-large wp-image-9492\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/05/NZDUSD-DAILY-14052017-1024x438.png\" alt=\"\" width=\"1024\" height=\"438\" /></a></strong>\r\n\r\n<strong> </strong>\r\n\r\n<strong>USD/CAD:</strong>\r\n\r\n<strong> <a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/05/USDCAD-DAILY-14042017.png\"><img class=\"aligncenter size-large wp-image-9493\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/05/USDCAD-DAILY-14042017-1024x438.png\" alt=\"\" width=\"1024\" height=\"438\" /></a></strong>\r\n\r\n<strong> </strong>\r\n\r\n<strong>USD/CHF:</strong>\r\n\r\n<strong><a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/05/USDCHF-DAILY-14052017.png\"><img class=\"aligncenter size-large wp-image-9494\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/05/USDCHF-DAILY-14052017-1024x438.png\" alt=\"\" width=\"1024\" height=\"438\" /></a> </strong>\r\n\r\n<strong> </strong>\r\n\r\n<strong>USD/JPY:</strong>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/05/USDJPY-DAILY-14052017.png\"><img class=\"aligncenter size-large wp-image-9495\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/05/USDJPY-DAILY-14052017-1024x438.png\" alt=\"\" width=\"1024\" height=\"438\" /></a>\r\n\r\n<strong> </strong>\r\n<ol start=\"3\">\r\n 	<li><strong> THE PREMIUM SERVICE:</strong><strong> </strong></li>\r\n</ol>\r\n<u>WHAT IS THE PREMIUM SERVICE?</u>\r\n\r\nThe PREMIUM SERVICE is a subscriber based Forex support service offering not just trade set-ups, but a bunch of different support services that differentiates the PREMIUM SERVICE from other providers, my competitors, that operate in the same space.\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 PREMIUM SERVICE tab.\r\n\r\nFurther information can be found by clicking TESTIMONIALS, PART-TIME TRADERS and FX PROMOTIONS tabs. To subscribe to THE PREMIUM SERVICE, you will require a valid credit card.\r\n\r\n<u>PREMIUM SERVICE PERFORMANCE YEAR TO DATE:</u>\r\n\r\nMONTH TO DATE: +100 pips\r\nYEAR TO DATE:      +1,382 pips\r\n\r\nI am still a little way behind my target. But trading is gathering momentum once again and I am still very confident of achieving my year-end target of 10,000 net profitable pips.\r\n\r\n<u>PREMIUM SERVICE –  SUBSCRIBER PROMOTION:</u>\r\n\r\n<strong><u>“DOUBLE IT UP”</u></strong>\r\n\r\nI usually run a PREMIUM SERVICE subscriber promotion at the end of the old year /start of a new year.\r\n\r\nBecause I knew that this year I would be moving home and traveling in Q2, I deliberately decided to wait, to launch a promotion around that time.\r\n\r\nThis is the biggest and I believe the best subscriber promotion that I have ever offered.\r\n\r\nWhat is <strong>“DOUBLE IT UP”</strong> all about…\r\n\r\nBasically, from now until June 30<sup>th,</sup> 2017 anyone who subscribes to the PREMIUM SERVICE through my “SUBSCRIBE HERE” tab at the top of my welcome page will have their subscription period doubled at no extra cost.\r\n\r\nIn addition, all subscriptions regardless of the date of subscribing will not start until June 30th 2017.\r\n\r\nThis means that from the day of joining the PREMIUM SERVICE you will have 100% access. This could give you up to an additional 12 weeks of membership to the PREMIUM SERVICE depending upon the date you subscribe.\r\n\r\nThis 12-week period covers the period that I am moving home and traveling, and therefore there may be days at a time with zero activity, and there will be some because I will be out of coverage and simply on vacation, but it’s all “FREE” in any case, so whatever happens, it is all a bonus anyhow as your subscription period will officially commence June 30th 2017.\r\n\r\nConfirmation of the <strong>“DOUBLE IT UP” </strong>will be contained in the “welcome on board documents” the accompanies your subscription confirmation.\r\n\r\nThis is the best and most generous promotion that I have ever offered since starting the PREMIUM SERVICE and I hope that many of you take advantage.\r\n\r\n<strong><u>IMPORTANT TO NOTE:</u></strong> Joining the PREMIUM SERVICE <strong><u>now</u></strong> on a 10-week subscription gives you a 20-week subscription period with THE DOUBLE IT UP promotion. This basically covers 2017 in total when you allow for the summer break and the delayed promotional start of your subscription period. At CAD$1,000 this is a great opportunity and fantastic value.\r\n\r\nI add below my “DRIVE THRU blog / TRADING date charts for 2017, 2018 and 2019.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/03/BLOG-DATES-2017-2019.png\"><img class=\"aligncenter size-large wp-image-9300\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/03/BLOG-DATES-2017-2019-1024x621.png\" alt=\"\" width=\"1024\" height=\"621\" /></a>\r\n\r\nPLUS:\r\n\r\nIf you would like to know a little more about THE PREMIUM SERVICE please feel free to watch the following 40-minute video via the link below:\r\n\r\n<a href=\"http://bit.ly/PremServiceQ217\">http://bit.ly/PremServiceQ217</a>\r\n\r\nPLEASE NOTE: the above video is best viewed using a Google Chrome browser.\r\n\r\n<strong>\r\n</strong>\r\n<ol start=\"4\">\r\n 	<li><strong> PREMIUM SERVICE – SUBSCRIBER CONTENT AREA:</strong></li>\r\n</ol>\r\n<u>TRADING REVIEW:</u>\r\n\r\nI know it’s very bitty at the moment and not until June 13th will it alter.\r\n\r\nI had my “BUTT” handed to me surrounding Theresa May’s snap election announcement which seems ages ago. It was all but a 2,000-pip hit which hurt from a pip gathering perspective but not so much from a cash point of view although it did register.\r\n\r\nI am still confident of achieving the 10,000-pip annual goal so be prepared for a wild run through to the end of the year.\r\n\r\nThere are 5 x LIVE trades and 3 X LIMIT ORDERS in place at the moment. I have several potential trade set ups that I have been following over the past few days which should be ready to place Monday and Tuesday.\r\n\r\nTechnically many charts show some great opportunities coming into view and if both the technical’s and fundamental’s hold we could reap quite a few pips and finally make some decent $$$ this year.\r\n\r\nFundamentally, the RBA and RBNZ have made their pictures very clear. The BOJ have not altered and the FED shows great consistency despite all that surrounds them from a TRUMP administration that lacks clarity and cohesion. It is the ECB that causes me a little concern, on the basis that commentary from peripherals is believed and can screw up a trade direction. However, any shifts in policy should only be believed if it comes from Mario Draghi himself. Any shorter-term fluctuations should be used as either a buying or selling opportunity.\r\n\r\n<u>CORE TRADES:</u>\r\n\r\nThis section will re-fill commencing June 13th, 2017.<u></u>\r\n\r\n&nbsp;\r\n\r\n<u>PREMIUM SERVICE - TRADES REVIEW<strong>:</strong></u>\r\n\r\nCURRENT PREMIUM SERVICE - LIVE TRADES:\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/05/LIVE-TRADES-14052017.png\"><img class=\"aligncenter size-large wp-image-9488\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/05/LIVE-TRADES-14052017-814x1024.png\" alt=\"\" width=\"814\" height=\"1024\" /></a>\r\n\r\nCURRENT PREMIUM SERVICE – LIMIT ORDER TRADES:\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/05/LIMIT-ORDERS-14052017.png\"><img class=\"aligncenter size-large wp-image-9487\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2017/05/LIMIT-ORDERS-14052017-768x1024.png\" alt=\"\" width=\"768\" height=\"1024\" /></a>\r\n\r\n<strong> </strong>\r\n\r\n<strong> </strong>\r\n<ol start=\"5\">\r\n 	<li><strong> THE SOAPBOX:</strong></li>\r\n</ol>\r\n<strong>IS IT A PULLBACK OPPORTUNITY?  - </strong><strong>MAYBE, MAYBE NOT</strong>\r\n\r\nSo; the big questions for me are: -\r\n<ul>\r\n 	<li>Following the poor US Retail Sales and Consumer Prices data from last week the question is, was that the top or are we seeing the opportunity to buy the DXY dip?</li>\r\n 	<li>The GBP/USD has failed to pass the psychological 1.3000 level. Are we capped or pulling back as BREXIT uncertainty will dominate once again once the June 8th election is out of the way?</li>\r\n 	<li>The EUR/USD is popping on news that the EUROZONE economy is showing continual improvements, the two initial geopolitical news events (Dutch and French elections) have now passed without populist victories and we are now in a rumour zone about how the ECB will taper QE and normalize interest rates once again. Can Draghi hold back the bullish market intent?</li>\r\n</ul>\r\n&nbsp;\r\n\r\nHaving been basically observing prices rather than the intraday movement my views and thoughts are really at the moment viewed from a very high macro level.\r\n\r\nVery briefly this is my take on the tree currencies moving forwards\r\nUSD: - The FED seems determined to raise interest rates regardless and one month’s poor data will NOT deter them from the goal of the rate normalization process. Interest rate expectations of a rise in June are still around 90%. Labour data is strong and the economy cannot just straight line, it is a marathon not a sprint. Therefore, expect the DXY to rise on a rate hike.\r\n\r\nBuying the USD makes sense to me on this pullback which may continue into the Asian session as the week starts up once again.\r\n\r\nWe will have greater central bank interest rate divergence of a result of another 0.25% rise in June - do NOT underestimate this point.\r\n\r\nGBP: - At the moment, I am long GBP/USD. Will we see a short-term pullback? The pair held at 1.3000 and realistically the bulls were at fever pitch claiming that the bottom was in.\r\n\r\nIn my opinion an election was called to confirm and extend Theresa May’s position as Prime Minister but fundamentally nothing has changed. We are still heading into unchartered waters with the BREXIT, and the UK economy is starting to slow down as the inflation pinch starts to hit home.\r\n\r\nI cannot see Carney wanting to rock the boat and raise rates. I believe he will have his back to the wall until something tangible can change his medium-term views.\r\n\r\nMy thoughts are that, up to the election cable stands a chance of re-testing 1.3000 again and we may rally beyond 1.3000 if Theresa May pummels the Labour Party at the general election, but I then expect cable to move lower once again as BREXIT uncertainty then becomes the major news event.\r\n\r\nLong cable and then short cable after the election are my thoughts. Shorting cable should coincide with the FED raising interest rates.\r\n\r\n&nbsp;\r\n\r\nEUR: - This is the hardest to call. I can see every argument for going long EUR/USD, in fact it is what I am going to do but I do fear the FED rate hike could scupper that move. At the same time, I do believe that the threats to the single currency have somewhat subsided.\r\n\r\nDraghi will not want the currency to run too high as this will affect his plans. The FED rate hike could help him, but the EUR/USD is very cheap at the moment all things considered and ultimately, I believe this will override all matters and the EUR/USD around 1.1400 should not be ruled out. Having written that, we need to read and digest all the commentaries from Mario Draghi and Janet Yellen.\r\n\r\nThis call is the hardest and most difficult of all three currencies. I will say that I would leave the EUR/USD alone and buy the EUR crosses for a long EUR trade.\r\n\r\nGood luck.\r\n\r\n&nbsp;\r\n<ol start=\"6\">\r\n 	<li><strong> CLOSING THOUGHTS:</strong></li>\r\n</ol>\r\nNothing more to add here, I have said enough except,\r\n\r\nAs usual…\r\n\r\nAlways remember longevity in Forex trading can only be achieved through trading with good RISK and MONEY MANAGEMENT, and above all set your position sizes in accordance with the size of your account and allow for some flexibility.\r\n\r\nTake care, have a great trading week and see you next on May 14th, 2017\r\n\r\nScott Pickering\r\nThe Pip Accumulator\r\nTwitter: @pipaccumulator\r\n<a href=\"http://weeklyfxdrivethru.com/disclaimer/\">http://weeklyfxdrivethru.com/disclaimer/</a>\r\n\r\nBLOG VERSION: #136 PREMIUM SERVICE\r\nDATE: 14th May 2017.\r\n\r\n&nbsp;', 'IS IT A PULLBACK OPPORTUNITY?  MAYBE, MAYBE NOT?', '', 'publish', 'open', 'closed', '', 'pullback-opportunity-maybe-maybe-not', '', '', '2017-05-14 12:28:29', '2017-05-14 17:28:29', '', 0, 'https://weeklyfxdrivethru.com/?post_type=member_posts&#038;p=9496', 0, 'member_posts', '', 0);
