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Developing A Life Plan To Live Without Money

2010-10-12T17:35:00.000-07:00

Personal Note: Terry, in this article, could be taken as a pessimist, but, in actual sense, I believe he is only being pragmatic since we don’t always choose life’s battles. No one prays to be in a seemingly hopeless financial situation, but it’s a possibility. However, the beauty of success is that it isn’t primarily dependent on life’s circumstances but on how we react to them. In short, this article gives us an insight into how we could “thrive” during extremely trying financial times - as that would probably be the only way to live to fight another day.

By [http://ezinearticles.com/?expert=Terry_Phong]Terry Phong

Times are tough and it got me to thinking, how would I survive without money? Do I have a life plan to survive when all sources of income are no longer available? These are some tough questions to ask one self. Just how prepared are we when tragedy strikes?

The best defense is preparing a good offense for if indeed we find ourselves without an income. You can start implementing the ideas that will help you conserve your resources and begin saving today. You do not have to wait until your family's income is gone before you begin.

Think simple. What do you need to survive, food right? Gardening or growing your own food is how people did it before super markets came along. The ability to harvest your own crop full of free vegetables is a tremendous savings. It may not be free at first, there is that initial investment but once you get past that, you will have a blissful bounty season after season.

You can learn all about gardening through books at your free local public library. Technical advances in gardening have allowed people to grow more even if space is limited by using the square foot gardening method. You can also grow vegetables in large containers, and buckets.

There are many benefits to gardening. It is not only fun but is also a form of physical activity.
You get a certain joy when you are eating food that you have grown your self. Get your children involved by letting them help to plant seeds and pull weeds. This is an excellent way to teach them about responsibility and contributing to the family. Planting a garden now will help you to survive later should your family income disappear. Gardening will help you build both skills and memories for a lifetime.

People from days of old knew how to get by with very little because they understood the concept of preserving. You simply save and use what you have. People applied this concept to food by canning and freezing the excess, mainly the leftover from their harvest. Canning is not just limited to vegetables. You can also can soups, stews, and even meats. This will serve you well for when there is little money to buy food. Once again, you can use your local library to research more on canning. There are even free resources such as freecycle.com that will give you free canning supplies.

Depending on where you live, homesteading can really help in becoming self-sufficient. Having a chicken and a rooster will provide you with eggs that you can eat or sell. Livestock is not always feasible if you live in the city but the benefits of raising your own chickens to gather your own eggs are much greater when you do not have an income.

What did people do to get what they wanted before currency came along? They traded things, also known as bartering. You simply exchange a good or a service you wanted for something else you want. A good example of this would be fixing your neighbor's car in exchange for food from his garden.

There is a website called "One Red Paper Clip.com" where this one person traded a red paper clip all the way up to getting a house. You can check out the amazing story yourself. It just goes to show what you can do when you look for ways to be creative. A word of caution though, just be smart when bartering and do keep a record of your transaction. Just because you are not using money does not mean you are exempt from your taxes. Uncle Sam will still want to know how you acquire your stuff.

It is a very scary thought to many to have to think about surviving with little or no money. However, when push comes to shove we do need to find a way to survive. I hope that none of us have to experience such hardship but the truth be known there are many who have no choice. If we do not develop a life plan to live without money now, we may find ourselves as another victim instead of being a victor in life's situations.

About the Author:

Terry Phong has a background in Human Development and loves people in general. To get more information on personal development for success follow the link => [http://inspirationallifeplancoaching.com/]http://inspirationallifeplancoaching.com/.

2009

Article Source: [http://EzineArticles.com/?Developing-A-Life-Plan-To-Live-Without-Money&id=5176150] Developing A Life Plan To Live Without Money

Personal Finance Advice You Can Use

2010-09-23T16:03:00.000-07:00

Personal Note: In this short but helpful article, Nikky shares with us “some great tips” that will definitely assist us in improving our personal finance. The tips aren’t ones we’ve probably not heard about on several occasions, but constantly reminding ourselves of them would go a long way in keeping us focused.

By : nikky Howard

The topic of personal finance is not a popular topic with most people. Most of us are struggling to get control over our personal finances and it is a losing battle. However, there is hope for even the most lost among us. There is plenty of personal finance advice out there and all it takes is reading some that advice and putting it to work to begin down the road to control over your personal financial situation.
The following are some great tips in a variety of areas of personal finance:

- Set spending limits. Give yourself an allowance to curb unnecessary spending throughout the week.

- Save for large expenses. Set a goal to save for a large expense, that way you know you can afford it and will not end up draining your bank account to make the purchase.

- Prioritize your spending. Learn to identify what you must have, what you need and what you want and prioritize in that order.

- Pay your bills on time. This eliminates late fees which can add up over time.

- Track your spending habits. This will help you identify wasteful spending so you can make a positive change.

- Look for savings everywhere. Shop at dollar stores, join discount clubs and use coupons.

- Always shop around before making a large purchase. Compare prices and look for the best deal.

- Save. No matter what start a savings plan. If the only thing you can do is save change then that is at least a start. If you can afford more then add it to your budget.

- Invest smartly. Know yourself when making investments. Learn about your investing personality so you feel comfortable with your investments.

- Stay on top of investments. Do not just hand your money over to a broker. Keep track of your investments and make sure you are always in loop about anything going on with them.

- Know when to get professional help. If you are in a financial crisis seek help. There are plenty of companies out there who will help you for free to get your finances back on track.

Your personal finances are important. Do not let them slip out of your control. Avoid living beyond your means and letting your finances run your life. When you get control over them you will find you are much happier and that you feel as if you can spend without worrying.

Author Resource:- Bob has been writing articles online for nearly 2 years now. Not only does this author specialize in Personal Finance, you can also check out his latest website about: Bakelite Jewelry Which reviews and lists the best bakelite earrings

What We Can Learn From the Rule of 72

2010-06-27T07:32:00.000-07:00

Personal Note: In this very helpful and instructive article, Zigfred places emphasis on the importance of compound interest in achieving our personal finance goals. With high level of discipline, soberness of mind, and continuous learning, the “Rule of 72” simply becomes a very powerful tool in creating an enviable and a sustainable financial lifestyle.

By [http://ezinearticles.com/?expert=Zigfred_Diaz]Zigfred Diaz

The Rule of 72 is simply a label given to the principle of compounding interest. It includes a very simple mathematical formula that explains how money grows. Compounding is very simply, earning interest on your money and then re-investing that interest. The Rule of 72 illustrates very clearly how it is done.

The Rule of 72 can teach us a couple of important lessons. Here are some of them:

1.) Money is like a fruit tree - When you plant a tree, you don't expect it to bear fruit overnight. Neither does your money. You give it time to grow just like a tree. The Rule of 72 teaches that if you give more time to your money to "compound", you can expect bigger returns. There will be more illustrations in my next post.

2.) Interest rate is the key - The Rule of 72 teaches that the higher the interest rate, the faster your money will double, and the faster it does, the more money you earn. Especially if you keep your money invested for a long period of time.

3.) Money does not grow on trees - This saying simply means you cannot make money without working for it. Nothing ever comes in life free - definitely not money. The Rule of 72 teaches that to get more money out of what cash we have, we need to exert all effort to get the highest interest rate possible while ensuring that we do not carelessly engage in risky transactions or business deals that seem too good to be true.

4.) Make money work hard for you - Why should we work hard for money when we can make money work hard for us? That is right. The best way to financial freedom is to let money work hard for us. Money is very much different from human beings. It doesn't get sick, get tired or complain. The Rule of 72, which is all about the concept of compounding interest, teaches us that interest when re-invested begets more interest.

5.) The concept of the "Automatic Money Machine" - The Rule of 72 fully supports a powerful concept in personal finance called Passive income. Personal finance experts talk of two kinds of income: active income and passive income. An example of active income is your day job where you have to be physically present and doing some work for your boss in order to earn your salary. Passive income is an "automatic money machine" where you don't have to do anything to earn an income. You just sit there and watch money come in. However, passive income does not start automatically. You need to do something at first, after which you will start to reap the benefits and just wait for money to come in. Interest income is a good example of passive income - your money earns interest without your doing anything to earn that interest. The Rule of 72 demonstrates what passive income is.

So those are the valuable and powerful lessons in the areas of investing, business and personal finances coming from the Rule of 72. These are the reasons why I call the rule as the foundation for all investing.

Zigfred Diaz is a businessman and a stock market investor. He regularly blogs about personal finance and how to invest in the stock market. Click on the following links, if you would like to know more about the [http://www.stockmarket-investing.com/the-foundation-of-all-investing-the-rule-of-72/]Rule of 72 or how to do [http://www.stockmarket-investing.com/]stock market investing intelligently.

Article Source: [http://EzineArticles.com/?What-We-Can-Learn-From-the-Rule-of-72&id=4550752] What We Can Learn From the Rule of 72

A Quick Step-by-Step Money Making Idea to Effortlessly Make Money with Money

2010-03-11T19:57:00.000-08:00

Personal Note: In this simple but very helpful article, Dean discusses a few of the main pillars of success in our personal finance. It’s easy for us to disregard these very important “truths” but if we could discipline ourselves enough to stick to them, achieving our financial goals is virtually guaranteed.

By : Dean Relax

Instead of working for money, it is much easier to make more money with money. That is, if you put your money to work instead of you. If you take the statistics, you can easily verify that most of the world's high earners are either entrepreneurs or investors who wisely leverage their money. So not only it is easier to put money to work to make more money, but it has infinitely greater potential than anything one can achieve by working a job for money.

I'm discussing today the best and most innovative money making idea that can apply to everyone - whether you're a college student, grandma or going through your mid life crisis and have realized everything you've ever done to make money hasn't really been worth it. All you need to do is to understand the value and power money has, especially when it comes to making money. Once you understand this money making idea, you can implement it straight away with minimal cost and effort.

- Start with a Small Amount

You can start with a small amount of money and allow it time to grow. To make money with money, you don't need to be a millionaire at the beginning. In fact, anyone who is fond of a coffee or pizza once every so often can enter into this unique money making idea because it costs only roughly the same amount. Today is the day for you to realise that you no longer have to work hard all the time for your money. Put your money to work so you don't have to!

- Set Realistic Goals

Since you are starting with a small amount, don't expect to see an unrealistic return. It is also better not to spend all the returns in the initial phases but rather to reinvest them into your investment system to make even more out of it. For example, say you have invested $5 in a month and get a return of $(5+1=)6. Then the thing to do which will put a rocket into your investment growth is to invest that $6 into the next investment vehicle. It will help you to reach your desired goal at a much faster rate.

- Understand the Core Logic

You must understand the core logic behind the success of the money making plan you are using. When you are investing your money, you must realize the proposed plan and the mathematics supporting the profits you are aiming for. It is vitally important that you realize the basic money making idea of the particular business before you invest your money.

- Verify the Reputation

When you join any business as an investor, you must check the records, reputation and performance of the company, no matter how much or how little you have invested. If you are planning to invest your money into some business that does not have any solid track records, it is better to stay away from it. Also you must check if the company is paying returns on time to its investors so that you can count on collecting your profits promptly when they are due.

If you don't follow these rules, you are risking your money for nothing. On the other hand, if you're investing in a business that follows all these points satisfactorily, you are on your way to establishing a successful investment portfolio and a great money making idea.

If you're not really keen doing this all on your own, have you thought about joining an investment alliance?
Author Resource:- Currently you can freely access this great report How To Make Money With Money - Every Time - Guaranteed at http://www.LifestyleAbundant.com . It totally points you in the right direction for making money with money AND the best thing is you don't need to do any work to get involved.

2010-03-08T16:12:00.000-08:00

Dear fellow traders,

I won’t be posting the usual daily analysis for some time. Sorry for any inconvenience caused, and thanks for making this thread a valuable one.

Today on EURUSD – Daily and H4 charts support Short trades, but…

2010-03-02T05:06:00.000-08:00

On the Daily chart above, we would observe price is still within the downward or bearish channel, and there is the likelihood that price would attempt to find its way down toward the lower edge of the channel – especially when we consider the fact that price is in a very strong longer term bearish trend. From a day-trade perspective, our bias favors the bears, and price break below the previous day’s low @ 1.3459 (not highlighted) earlier today gives more credence to the bias.
However, price is around the most recent Daily swing low @ 1.3450 (which we’ve highlighted using the blue broken line), and it seems the bears are currently struggling to break decisively below the support level. It would be preferable to wait for the close of today’s candle to be surer of where price might be heading next.

On the H4 chart above, price has breached the most recent swing low @ 1.3459 (which we’ve highlighted using the blue broken line) downward. That automatically sustains our bias in favor of a downward price move. However, to buttress the support hurdle the bears are contending with around the 1.3450 level, which we discussed on the Daily chart, price is struggling to break decisively below the most recent H4 swing low @ 1.3459 that we just mentioned above.
In all, our Daily bias still favors the bears, but we need to be very cautious if we attempt to seek Short trade setups, today, on this currency pair.
The white horizontal line @ 1.3653 highlights the most recent swing high, and as long as price stays below it – in the absence of any new and lower swing high – our bearish or downward bias remains intact.

However, we still need our Hourly charts – using Fibonacci retracement levels and important resistance levels – to seek promising areas to take our Short positions. Price pattern on the Hourly must also be forming lower highs and lower lows. Please note that our aim is to sell a rally in today’s down-trend.

Also, PATIENCE is the key here: we need to patiently wait for the Hourly retracement. It might happen, and it might not.

Today on USDJPY – Daily and H4 charts support Short trades, but…

2010-02-25T23:17:00.000-08:00

On the Daily chart above, for the past one week, price has been trending southward – in agreement with the longer term down trend. Yesterday, price decisively broke below the lower edge of the symmetrical triangle as the trading day ended with a strong bear-bodied candle. As a result, that strengthened the notion that the longer term bearish trend has probably resumed. From a day-trade perspective, our bearish bias remains intact.
However, there are two critical support levels that we expect price to break below for us to be more confident that the overall bearish trend has resumed: the first is the usual previous day’s low, which, in the case of this currency pair today, is @ 88.79 (not highlighted), and the most recent Daily swing low @ 88.58 (which we’ve highlighted using the blue broken line). For more conservative traders, it’s advisable to avoid seeking Hourly Short trade setups – supported by the H4 chart – till the coast is clear.

On the H4 chart above, price broke, at that time, the most recent swing low @ 89.91 (which we’ve highlighted using the upper blue broken line) downward. That automatically sustained our bias in favor of a downward price move. As discussed on the Daily chart, to be convinced of the bears’ readiness to continue their activity, especially for more conservative traders, it’s preferable to see price break below the most recent swing low – also the previous day’s low @ 88.79 (which we’ve highlighted using the lower blue broken line).
The white horizontal line @ 90.35 highlights the most recent swing high, and as long as price stays below it – in the absence of any new and lower swing high – our bearish or downward bias remains intact.

However, we still need our Hourly charts – using Fibonacci retracement levels and important resistance levels – to seek promising areas to take our Short positions. Price pattern on the Hourly must also be forming lower highs and lower lows. Please note that our aim is to sell a rally in today’s down-trend.

Also, PATIENCE is the key here: we need to patiently wait for the Hourly retracement. It might happen, and it might not.

Today on USDCHF – Daily and H4 charts support Long trades, but...

2010-02-25T00:19:00.000-08:00

On the Daily chart above, yesterday, we anticipated a continued bullish move, but, virtually throughout the earlier trading hours, the bears caused an upset as price swooned. Although our bias, yesterday, from a day-trade perspective was bullish, traders following the analyses on this thread were probably shielded from the sudden price collapse since price didn’t break above the Tuesday’s high (which, yesterday, was a previous day’s high) @ 1.0847.
Toward the close of yesterday’s trading hours, the bulls regained their momentum – forcing the bears to give up most of their sudden gains. In continuation of the bulls’ resurgence, early price action today has seen the break of both Tuesday’s high and yesterday’s high @ 1.0847 and 1.0841, respectively. Consequently, our bullish bias remains, with the critical resistance level – the most recent Daily swing high @ 1.0897 (which we've highlighted using the upper blue broken line) – still in focus.

On the H4 chart above, price has broken the most recent swing high @ 1.0847 (which we've highlighted using the blue broken line) upward. That sustains our bias in favor of an upward price move. Again, while seeking Long trade setups on the Hourly chart, let’s keep in mind the 1.0897 resistance level, which we discussed on the Daily chart.
The green horizontal line @ 1.0737 highlights the most recent swing low, and as long as price stays above it - in the absence of any new and higher swing low - our bullish or upward bias remains intact.

However, we still need our Hourly charts – using Fibonacci retracement levels and important support levels – to seek promising areas to take our Long positions. Price pattern on the Hourly must also be forming higher highs and higher lows. Please note that our aim is to buy a dip in today's up-trend.

Also, PATIENCE is the key here: we need to patiently wait for the Hourly retracement. It might happen, and it might not.

Today on USDCHF – Daily and H4 charts support Long trades, but...

2010-02-24T01:27:00.000-08:00

On the Daily chart above, yesterday, the lower edge of the upward or bullish channel eventually proved an insurmountable hurdle for the bears as the initial price-rally was sustained. Consequently, our trading bias, from a day-trade perspective, has again shifted to favor the bulls. However, for us to be convinced of the bulls’ readiness to push price further today, we would like to see the break above the previous day’s high @ 1.0847 (not highlighted).
In case price breaks above the 1.0847 level, we should expect further unhindered bullish action toward the most recent Daily swing high @ 1.0897 (which we've highlighted using the upper blue broken line).

On the H4 chart above, price broke, at that time, the most recent swing high @ 1.0787 (which we've highlighted using the lower blue broken line) upward. That shifted our bias in favor of an upward price move. However, in line with what was discussed on the Daily chart, the most recent swing high – also the previous day’s high @ 1.0847 (which we've highlighted using the upper blue broken line) is a crucial resistance level we would like to see broken for us to be more confident of the bulls’ resolve to sustain their activity.
The green horizontal line @ 1.0713 highlights the most recent swing low, and as long as price stays above it - in the absence of any new and higher swing low - our bullish or upward bias remains intact.

However, we still need our Hourly charts – using Fibonacci retracement levels and important support levels – to seek promising areas to take our Long positions. Price pattern on the Hourly must also be forming higher highs and higher lows. Please note that our aim is to buy a dip in today's up-trend.

Also, PATIENCE is the key here: we need to patiently wait for the Hourly retracement. It might happen, and it might not.

Today on USDCHF – Would the lower edge of the bullish channel hold?

2010-02-23T03:11:00.000-08:00

On the Daily chart above, in line with what we discussed yesterday, earlier today, price moved further downward toward the lower edge of the upward or bullish channel – breaking the previous day’s low @ 1.0738 (not highlighted) in the process. At the moment, the channel’s lower edge is doing a good job of providing strong support as the bears seem unable to break below it. From a day-trade perspective, our bias is still reluctantly in favor of the bears, but current price actions are telling to be wary of seeking Short trade setups until the coast is clear. Consequently, it’s advisable for us to exercise patience on this currency pair – probably throughout today.

On the H4 chart above, price has breached the most recent swing low – also the previous day’s low @ 1.0738 (which we’ve highlighted using the blue broken line) downward. That automatically sustains our bias in favor of a downward price move. However, we could notice the proximity of price to the lower edge of the bullish channel, which we discussed on the Daily chart, and how it’s reacting to the lower edge. It’s quite obvious the bears aren’t having a field day. Again, as advised on the Daily chart, it’s better to abstain from trading this pair until the coast is clear.
In all, technically speaking, our day-trade bias still supports the bears – albeit reluctantly.
The white horizontal line @ 1.0787 highlights the most recent swing high, and as long as price stays below it – in the absence of any new and lower swing high – our bearish or downward bias remains intact.

Personal Finance Tips - How You Know You Are a Millionaire

2010-02-22T03:04:00.000-08:00

Personal Note: In this article, Jono, in a way, expatiates on the Be-Do-Have philosophy: Naturally, we like to have what we desire in our personal finances (as well as other areas of our lives) but we usually fail in our quest because we dwell more on the less important phase – the finishing line, where we’ve already achieved our goals – at the expense of the more critical phase – the actual race, where we orchestrate all that’s necessary to achieve our goals.

By [http://ezinearticles.com/?expert=Jono_Johnson]Jono Johnson

Being a millionaire doesn't mean only hefty bank accounts, big properties and flashy cars. It is just as much about attitude. These are the traits that can show you arrived in the select elite of rich people.

You can not become rich without these traits. And the good habits don't disappear just because your bank account reached a seven-digit figure. You still don't believe in financial shortcuts and you can smell a fishy financial scheme from a distance.

You are still conscious about your spending, and still assign your own value to different goods. And you have the power to say "no" if the price of an object is more than it is worth to you. Your financial goals are still written down.

You continue to work, and don't understand those who say that if they were millionaires, they wouldn't work. You may quit your job if you don't like it, but you do something you really enjoy, because you know that work gives a sense of purpose and accomplishment in life.

You don't try to keep up with anyone anymore. Your know what your values are, and you refuse to follow the crowd just because you want to fit in. You don't see earning money as a competition: you focus on the things you want to do, and you are not interested in what others do.

No matter how much money you have, you still regularly update your goals. You know that growth is the only way to be insured against inflation and the devaluing of your money. You are still able to act on any changes may occur in your personal goals and priorities.

You don't let anyone take care about your financial health. You do listen to advices, but you keep your financial authority only to yourself, because you know that nobody cares about your financial health as much as you do. In the same time you are conscious that it needs thought and energy to competently manage your money.

You have the ability to say "no" when you feel like it: not because you are a bad person, but you can see what is your and your requester's best interest. If you feel that these requests have no guarantee that the investment will pay off, you can say "no" without feeling guilt.

You know that the secret of building wealth is maximizing returns while minimizing risk, so you don't understand people who don't maximize their returns because they are more risk-averse than you are. You know how to manage risk, so it doesn't scare you.

Jono has been writing articles for nearly 4 years. Come visit his latest website about [http://www.ottomansforsale.net]round leather ottoman which helps people find the best [http://www.ottomansforsale.net/black-leather-ottoman.html]black leather ottoman and information they need when looking for a black leather ottoman.

Article Source: [http://EzineArticles.com/?Personal-Finance-Tips---How-You-Know-You-Are-a-Millionaire&id=3792251] Personal Finance Tips - How You Know You Are a Millionaire

Today on USDCHF – Daily and H4 charts support Short trades, but…

2010-02-22T01:16:00.000-08:00

On the Daily chart above, we would observe that on Friday, last week, price hit the upper edge of the upward or bullish channel, and on the same day, it reversed sharply to close as a strong bear-bodied candle. That was a convincing sign that the bulls weren’t prepared to disregard the upper boundary of the bullish channel just yet. Further supporting the possibility of a bearish move toward the lower part of the bullish channel is earlier price action today, which resulted in the break of the previous trading day’s low – Friday’s low @ 1.0747 (not highlighted). Consequently, from a day-trade perspective, our bias has shifted in favor of the bears.
However, considering price’s proximity to the lower edge of the bullish channel (currently about 50pips away), there’s the need for us to be cautious as we seek Short trade opportunities – especially when we also consider that the USD/CHF currency pair is currently within a medium term bullish trend.

On the H4 chart above, price has breached the most recent swing low @ 1.0746 (which we’ve highlighted using the blue broken line) downward. That automatically shifts our bias in favor of a downward price move. However, we could notice price is yet to break decisively below the 1.0746 support level, and the last fully formed H4 candle completed the formation of a quasi-reversal candle pattern around the same support level. Hence, we have a sign suggesting a possible bullish retracement.
In all, while our day-trade bias supports the bears, we should be conscious of the contradictory signals.
The white horizontal line @ 1.0897 highlights the most recent swing high, and as long as price stays below it – in the absence of any new and lower swing high – our bearish or downward bias remains intact.

However, in case of a clearer coast, we still need our Hourly charts – using Fibonacci retracement levels and important resistance levels – to seek promising areas to take our Short positions. Price pattern on the Hourly must also be forming lower highs and lower lows. Please note that our aim is to sell a rally in today’s down-trend.

Also, PATIENCE is the key here: we need to patiently wait for the Hourly retracement. It might happen, and it might not.

Today on USDJPY – Daily and H4 charts support Long trades.

2010-02-19T01:33:00.000-08:00

On the Daily chart above, yesterday, the bulls continued their activity in a very determined manner: after the break of Wednesday’s high @ 91.36 (not highlighted), which resulted in a clear break above the most recent Daily swing high @ 91.26 (that we've highlighted using the blue broken line), as anticipated, price continued its upward movement. Also, early market action today has seen price break above the previous day’s high @ 92.03 (also not highlighted). Consequently, from a day-trade perspective, our bias remains bullish. The next important resistance area we should be monitoring is the upper edge of the symmetrical triangle.
Today, the coast seems relatively clear enough for us to seek Hourly Long trade setups – supported by the H4 chart.

On the H4 chart above, price has broken the most recent Daily swing high @ 91.36 (which we've highlighted using the blue broken line) upward. That sustains our bias in favor of an upward price move.
The green horizontal line @ 90.55 highlights the most recent swing low, and as long as price stays above it - in the absence of any new and higher swing low - our bullish or upward bias remains intact.

However, we still need our Hourly charts – using Fibonacci retracement levels and important support levels – to seek promising areas to take our Long positions. Price pattern on the Hourly must also be forming higher highs and higher lows. Please note that our aim is to buy a dip in today's up-trend.

Also, PATIENCE is the key here: we need to patiently wait for the Hourly retracement. It might happen, and it might not.

Today on USDJPY – Daily and H4 charts support Long trades, but…

2010-02-17T23:08:00.000-08:00

On the Daily chart above, as expected yesterday, price continued moving upward to pause around the most recent Daily swing high @ 91.26 (which we've highlighted using the blue broken line). If the 91.26 level happens to be a strong resistance area, we might see the bears forcing price to resume its longer term bearish trend. From a day-trade perspective however, our bias remains in support of the bulls – until we have enough reasons to change our view.
For now, all we know is: as a result of yesterday’s price activity, the previous day’s candle closed as a very strong bullish candle – breaching the 91.26 resistance level in the process. That suggested to us that the bulls probably have enough momentum to push price further upward. However, since price is yet to break decisively above the 91.26 level, to be convinced of a continued bullish move today, we would prefer to see price-break above the previous day’s high @ 91.36 (not highlighted) before seeking our Hourly long trade setups – supported by the H4 chart.

On the H4 chart above, yesterday, price broke the most recent swing high @ 90.50 (which we've highlighted using the lower blue broken line) upward. That shifted our bias in favor of an upward price move. Again, as with yesterday, we could observe price reaction to the critical resistance level @ 91.26 (that we've highlighted using the upper blue broken line), which we discussed on the Daily chart. Currently, we are seeing signs of a possible bearish move, which might end up becoming a major move – considering the longer term bearish scenario on higher time frame charts. Please let’s keep the level in mind.
The green horizontal line @ 90.14 highlights the most recent swing low, and as long as price stays above it - in the absence of any new and higher swing low - our bullish or upward bias remains intact.

However, we still need our Hourly charts – using Fibonacci retracement levels and important support levels – to seek promising areas to take our Long positions. Price pattern on the Hourly must also be forming higher highs and higher lows. Please note that our aim is to buy a dip in today's up-trend.

Also, PATIENCE is the key here: we need to patiently wait for the Hourly retracement. It might happen, and it might not.

Today on USDJPY – Daily and H4 charts support Long trades.

2010-02-17T05:37:00.000-08:00

On the Daily chart above, given the time of this posting, it’s not unexpected that traders have already made some decisive moves regarding the direction in which price would go; however, we should still expect more decisions to be made before today’s trading hours close. On the USDJPY, we would observe the bulls are resolved to hold on to their reign despite the pro-bears signals we identified yesterday. Earlier price action today saw price moving decisively above the upper edge of the downward or bearish channel – breaking in the process the previous day’s high @ 90.50 (not highlighted). That suggested to us the bulls now have enough drive to push further northward, at least toward the most recent Daily swing high @ 91.26 (which we've highlighted using the blue broken line).

On the H4 chart above, price has broken the most recent swing high @ 90.50 (which we've highlighted using the lower blue broken line) upward. That again shifts our bias in favor of an upward price move. We could observe the critical resistance level @ 91.26 (that we've highlighted using the upper blue broken line), which we discussed on the Daily chart. Please let’s keep the level in mind.
The green horizontal line @ 89.70 highlights the most recent swing low, and as long as price stays above it - in the absence of any new and higher swing low - our bullish or upward bias remains intact.

However, we still need our Hourly charts – using Fibonacci retracement levels and important support levels – to seek promising areas to take our Long positions. Price pattern on the Hourly must also be forming higher highs and higher lows. Please note that our aim is to buy a dip in today's up-trend.

Also, PATIENCE is the key here: we need to patiently wait for the Hourly retracement. It might happen, and it might not.

Today on USDJPY – Daily and H4 charts support Short trades.

2010-02-16T04:51:00.000-08:00

On the Daily chart above, we would observe traders have been struggling to make a decisive move on the USDJPY pair since late last week when price hit the upper edge of the downward or bearish channel. By the end of yesterday, we had a sign suggesting the channel’s upper edge, as a resistance area, would probably aid the bears to resume their southward journey: yesterday’s candle closed within Friday’s candle – forming a reversal candle pattern (an “inside candle”) in the process, and, as earlier said, that gave us an indication that the bears might resume their activities. In addition, today’s price action has seen the break of yesterday’s low @ 89.90 (not highlighted).
From a day-trade perspective, our bias has shifted in favor of the bears. Although, the market is relatively sluggish at the moment, the coast seems relatively clear for us to seek Hourly Short trade setups – supported by the H4 chart.

On the H4 chart above, price has broken the most recent swing low – also yesterday’s low @ 89.90 (which we’ve highlighted using the blue broken line) downward. That automatically shifts our bias in favor of a downward price move. We could observe, more clearly, price reaction at the upper edge of the bearish channel, which we discussed on the Daily chart: it suggests the resistance-strength the bulls are contending with around the area.
Also, we could observe the lull-mode the pair has been since yesterday. There’s the possibility of a big break toward either side, but, as earlier said, from a day-trade perspective, our bias is in favor of the bears.
The white horizontal line @ 90.09 highlights the most recent swing high, and as long as price stays below it – in the absence of any new and lower swing high – our bearish or downward bias remains intact.

However, we still need our Hourly charts – using Fibonacci retracement levels and important resistance levels – to seek promising areas to take our Short positions. Price pattern on the Hourly must also be forming lower highs and lower lows. Please note that our aim is to sell a rally in today’s down-trend.

Also, PATIENCE is the key here: we need to patiently wait for the Hourly retracement. It might happen, and it might not.

Today on GBPUSD – Would the range trading on this currency pair continue?

2010-02-15T02:49:00.000-08:00

On the Daily chart above, we could observe the GBPUSD pair settled into range trading throughout last week. Price hit the lower edge of the downward or bearish channel only to get stalled as the bulls were unable to garner enough momentum to send price back toward the upper edge of the channel. Currently, price is stuck between the most recent Daily swing high @ 1.5763 (which we've highlighted using the upper blue broken line) – on the upper side – and a support confluence of the channel’s lower edge and the year-low @ 1.5533 (which we've highlighted using the lower blue broken line) – on the lower side.
Consequently, while our day-trade bias leans toward the bulls, we need a clear break above the 1.5763 level to be convinced of the bulls’ resolve to push price northward.
Also, today is a Bank Holiday in the US, so let’s keep in mind the possibility of thin volume in U.S. trade.

On the H4 chart above, price is yet to break the most recent swing high @ 1.5707 (which we've highlighted using the blue broken line) upward. That buttresses our view that traders are currently indecisive on whether to react to the critical support confluence discussed on the Daily chart and push price northward or succumb to the lingering bearish pressure and continue southward. In all, as also mentioned on the Daily chart, our day-trade bias reluctantly favors the bulls; but we need further confirmation to be more convinced of the bullish retracement.
The green horizontal line @ 1.5579 highlights the most recent swing low, and as long as price stays above it - in the absence of any new and higher swing low - our bullish or upward bias remains intact.

However, in case of a clearer coast, we still need our Hourly charts – using Fibonacci retracement levels and important support levels – to seek promising areas to take our Long positions. Price pattern on the Hourly must also be forming higher highs and higher lows.

Today on USDJPY – Would the bulls break the bearish channel?

2010-02-12T01:19:00.000-08:00

On the Daily chart above, we would observe price is still trapped within the downward or bearish channel, which we started observing since the early weeks of this year, 2010. Currently, in an overall bearish trend, the bulls are attempting to break decisively above the channel. Supporting the possibility of the bulls escaping the channel is the recent price-break above the previous day’s high @ 90.13 (not highlighted). However, it’s rather too early to conclude the bulls have finally broken through as the resistance pressure around the upper edge of the bearish channel might eventually subdue them before the close of today’s (also this week’s) trading hours.
From a day-trade perspective, our bias is bullish, but, based on the analysis above, more conservative traders might prefer to stay off this pair till next week. Less conservative traders might still be able to rely on the H4 price action to make their decisions on whether to seek Long trade setups on the Hourly charts or not.

On the H4 chart above, price has broken the most recent swing high – also yesterday’s high @ 90.13 (which we've highlighted using the blue broken line) upward. That sustains our bias in favor of an upward price move. However, on the H4 chart, we could also observe more clearly price action around the bearish channel discussed on the Daily chart. Price, at the moment, is probably within a resistance-area, hence, there’s the need to be cautious. Again, while less aggressive traders might have to wait till next week to trade this currency pair, more aggressive traders might only wait for a clear H4 candle-close above the resistance confluence of the 90.13 level and the upper edge of the bearish channel.
The green horizontal line @ 89.56 highlights the most recent swing low, and as long as price stays above it - in the absence of any new and higher swing low - our bullish or upward bias remains intact.

However, in case we have a clearer coast, we still need our Hourly charts – using Fibonacci retracement levels and important support levels – to seek promising areas to take our Long positions. Price pattern on the Hourly must also be forming higher highs and higher lows. Please note that our aim is to buy a dip in today's up-trend.

Also, PATIENCE is the key here: we need to patiently wait for the Hourly retracement. It might happen, and it might not.

Today on USDCHF – What next on this Currency Pair?

2010-02-11T01:19:00.000-08:00

On the Daily chart above, earlier this week, on Tuesday, we anticipated a bearish retracement on this currency pair as we observed a reversal candle pattern, an “inside candle” at the upper edge of the upward or bullish channel. We also concluded that the bearish retracement might end up being a shallow one if the critical support level – the most recent Daily swing high @ 1.0641 (which we've highlighted using the lower blue broken line) proves to be an insurmountable hurdle for the bears; and currently, the 1.0641 support is proving to be just that: an “insurmountable hurdle.” Since the late trading hours on Tuesday, price has tested and re-tested the 1.0641 level in an attempt to break decisively below it, but, up till now, it’s still an unfortunate story for the bears.
From, a day-trade perspective, our bias is reluctantly aligning with the longer term bullish trend because a couple of resistance levels still need to be broken for us to be fully convinced of the bulls readiness to resume their dominance. The hurdles include yesterday’s high @ 1.0720 (not highlighted), and the potential resistance confluence of the upper edge of channel and the most recent Daily swing high @ 1.0794 (which we've highlighted using the upper blue broken line).

On the H4 chart above, we could observe that price is yet to break above the most recent swing high – also yesterday’s high @ 1.0720 (which we've highlighted using the lower blue broken line) upward. That buttresses our position that the bulls are yet to fully resume their activity. Hence, in line with what we discussed on the Daily chart, we would like to see the bulls break above the 1.0720 level.
The green horizontal line @ 1.0617 highlights the most recent swing low, and as long as price stays above it - in the absence of any new and higher swing low - our bullish or upward bias remains intact.

However, in case we have a clearer coast, we still need our Hourly charts – using Fibonacci retracement levels and important support levels – to seek promising areas to take our Long positions. Price pattern on the Hourly must also be forming higher highs and higher lows. Please note that our aim is to buy a dip in today's up-trend.

Also, PATIENCE is the key here: we need to patiently wait for the Hourly retracement. It might happen, and it might not.

A Plan to Double Your Wealth With the Rule of 72

2010-02-10T04:06:00.000-08:00

Personal Note: In this helpful article, Jason prescribes a simple math formula that could assist us in setting our personal finance goals. We are usually in a much better position to create a feasible plan – that could be followed easily – when we work with very simple formulas like the one explained in this article.

By [http://ezinearticles.com/?expert=Jason_Markum]Jason Markum

If you are interested in doubling your wealth, it doesn't really mean much unless you create a specific time frame first. If you have any assets or investments that produce income, they will probably *eventually* double your wealth, and you won't have to do anything. Of course it may take 200 years. That's the point of having a time frame.

Yes doubling your wealth within a certain time frame, takes a little bit of planning on your part. Luckily you found this article!

If the money you've invested remains constant, that is, you don't add any to it, then you can use the so-called rule of 72. All you have to do is divide the number 72 by the number of years within which you would like to double your wealth. The number you get when you do that calculation ends up being the percentage you must earn on the money you've invested in order to double your wealth.

For example if you wanted to double your money in 10 years, your investment would need to produce 7.2% increases (72/10) for each of those years. If you wanted to double in five years, you would need to return 14.4%. And if you wanted to double your money in two years, you need to earn a 36% gain on that investment. Pretty easy huh?

If you would like to know what your current investment portfolio is producing, and whether it is producing up to your expectations, review things very carefully. Think about getting rid of investments that aren't doing very well and taking the money and reinvesting it in something that performs better. Think of it this way; look at each of your investments and ask yourself this question... "if I had the cash again when I make the same investment?". If the answer is no, then you know it's time to sell that investment and reinvest into something else.

Good portfolios for building wealth are diversified, and also balanced. For me personally, a good balance is about one third of my assets in stocks, one third in real estate that produces income, and one third in other things; things like annuities and gold, and municipal bonds; things like that.

However your portfolio seems to be balanced, it will grow far quicker if you continue to add to it in a regular fashion. For me I like to add a percentage of all the income I bring in to my investments. This can be in the form of automatic payroll deductions, or an automatic checking account transfer system, or however you'd like to do it yourself.

No matter what you do, it is important for you to remain educated about all of your investments, and upcoming investment opportunities. The more you know about an investment to less risky it becomes. And the closer an eye you keep on your investments, the less chance they will decrease dramatically before you notice and take steps against the loss.

So there you have it! Remember the rule of 72, it's a good plan for setting a time frame for doubling your wealth...

Jason has been writing articles online for over thirteen years. When not writing about finance, Jason runs a very useful website about [http://www.edonatecar.com/]donating cars to charity where he will answer the age old question; [http://www.edonatecar.com/where_can_i_donate_a_car.cgi]where can I donate a car which you definitely need to know!

Article Source: [http://EzineArticles.com/?A-Plan-to-Double-Your-Wealth-With-the-Rule-of-72&id=3577266] A Plan to Double Your Wealth With the Rule of 72

Today on GBPUSD – Daily and H4 charts support Long trades, but…

2010-02-10T02:00:00.000-08:00

On the Daily chart above, we had a relatively strong signal on Monday that the bears might be suspending their onslaught as Monday’s trading hours closed as a strong “Doji” (a strong reversal candle pattern) around the lower edge of a downward or bearish channel. Virtually throughout yesterday, Tuesday, the bulls were fully in control and they held on to their gains as yesterday’s candle closed as a strong bull-candle. From a day-trade perspective, our bias has shifted in favor of the bulls and we expect price to continue its upward move toward the important resistance level – the most recent Daily swing low @ 1.5849 (which we've highlighted using the blue broken line).
However, to be more convinced of the bulls’ readiness to keep on challenging the overall bears’ dominance, we would like to see price break above the previous day’s high @ 1.5746 (not highlighted).

On the H4 chart above, price broke, at that time, the most recent swing high @ 1.5659 (which we've highlighted using the lower blue broken line) upward. That shifted our bias in favor of an upward price move. However, as mentioned on the Daily chart, before seeking Hourly Long trade setups, we would prefer to see price break above the most recent swing high – also yesterday’s high @ 1.5746 (which we've highlighted using the upper blue broken line).
The green horizontal line @ 1.5561 highlights the most recent swing low, and as long as price stays above it - in the absence of any new and higher swing low - our bullish or upward bias remains intact.

However, we still need our Hourly charts – using Fibonacci retracement levels and important support levels – to seek promising areas to take our Long positions. Price pattern on the Hourly must also be forming higher highs and higher lows. Please note that our aim is to buy a dip in today's up-trend.

Also, PATIENCE is the key here: we need to patiently wait for the Hourly retracement. It might happen, and it might not.

Today on USDCHF – Daily and H4 charts support Short trades, but…

2010-02-09T03:09:00.000-08:00

On the Daily chart above, yesterday, we discussed the possibility of a bearish retracement based on a couple of price actions that were unfolding. By the close of yesterday’s trading hours, it became more obvious that the bears were prepared to take over as yesterday’s candle closed as a bear-candle – though not a strong one. Furthermore, yesterday’s price activity, in relation to Friday’s, resulted in an “inside-candle” reversal candle pattern: a significant reversal indicator since it occurred at the upper edge of an upward or bullish channel, after a steep bullish trend. To further compound issues for the bulls, current price action has seen price break below previous day’s low @ 1.0682 (not highlighted). Consequently, from a day-trade perspective, our bias has turned bearish.
However, there’s a critical support level we have to be conscious of as we seek our daily Short trade set ups on the Hourly chart – supported by the H4 chart: the most recent Daily swing high @ 1.0641 (which we’ve highlighted using the blue broken line).

On the H4 chart above, price has breached the most recent swing low @ 1.0682 (which we’ve highlighted using the blue broken line) downward. That automatically shifts our bias in favor of a downward price move. However, we could observe that, though price broke below the 1.0682 support level, which is “acting” a dual role as the most recent H4 swing low and the previous day’s low, price is yet to break decisively below it (the 1.0682 level). It would be preferable to see an H4 candle close below this support level to more convinced of a further bearish retracement.
The white horizontal line @ 1.0794 highlights the most recent swing high, and as long as price stays below it – in the absence of any new and lower swing high – our bearish or downward bias remains intact.

However, we still need our Hourly charts – using Fibonacci retracement levels and important resistance levels – to seek promising areas to take our Short positions. Price pattern on the Hourly must also be forming lower highs and lower lows. Please note that our aim is to sell a rally in today’s down-trend.

Also, PATIENCE is the key here: we need to patiently wait for the Hourly retracement. It might happen, and it might not.

Today on USDCHF – Daily and H4 charts support Long trades, but…

2010-02-08T00:50:00.001-08:00

On the Daily chart above, we still have a scenario similar to the one discussed last trading day – on Friday, last week. The steep uptrend observed is still intact as Friday’s price action showed the bulls reacted to the upper edge of the upward or bullish channel but still held on as Friday’s candle closed as quasi bullish candle. From a day trade perspective, our bias still remains bullish.
However, a couple of current price actions today show the bearish retracement is still a possibility: The bulls, at the moment, seem unwilling to push further and break above the previous trading day’s high – Friday’s high @ 1.0794 (not highlighted); also, there’s a high probability that price might attempt to travel southward to close-up the “gap” formed as a result of the difference between Friday’s close @ 1.0723 and Today’s open @ 1.0758.
While our bias remains bullish, it’s very much advisable that we avoid going Long on this pair till we have a clearer coast.

On the H4 chart above, we could observe the critical position the bulls have found themselves at the start of a new week: price is yet to break above the most recent swing high @ 1.0794 (that we've highlighted using the blue broken line and the right yellow arrow), which was formed as a result of the bulls’ inability to break above a previous swing high @ 1.0793 (pointed out by the left yellow arrow).
Again, our day trade bias is still “reluctantly” in favor of the bulls.
The green horizontal line @ 1.0684 highlights the most recent swing low, and as long as price stays above it - in the absence of any new and higher swing low - our bullish or upward bias remains intact.

However, in case of a clearer coast, we still need our Hourly charts – using Fibonacci retracement levels and important support levels – to seek promising areas to take our Long positions. Price pattern on the Hourly must also be forming higher highs and higher lows.

Today on USDCHF – Daily and H4 charts support Long trades, but…

2010-02-04T21:48:00.000-08:00

On the Daily chart above, it’s very obvious that the USDCHF has been in a relatively steep uptrend for almost a month as price continued rallying with only a couple of shallow bearish retracements. It’s been a clear case of higher high, higher low price pattern. Early bullish action today pushed price to a new height. The bullish move was forecasted by yesterday’s price-break above a former, critical resistance level – the most recent Daily swing high @ 1.0642 (which we've highlighted using the blue broken line). Following price’s decisive close above the 1.0642 level – with a very strong bull-candle – the bulls went ahead to break the previous day’s high @ 1.0675 (not highlighted): a good sign that the bulls were resolved to push further.
However, price is currently at the upper edge of an upward or bullish channel, which might prove a hurdle for the bulls. Considering the steep nature of price movement, the possibility of an imminent, deeper bearish retracement isn’t farfetched, and that gives more credence to the potential strength of the channel’s upper edge.
In all, our bias remains bullish, but let’s keep the channel’s upper edge in mind.

On the H4 chart above, price broke the most recent swing high @ 1.0606 (which we've highlighted using the blue broken line) upward. That sustained our bias in favor of an upward price move.
The green horizontal line @ 1.0495 highlights the most recent swing low, and as long as price stays above it - in the absence of any new and higher swing low - our bullish or upward bias remains intact.

However, we still need our Hourly charts – using Fibonacci retracement levels and important support levels – to seek promising areas to take our Long positions. Price pattern on the Hourly must also be forming higher highs and higher lows. Please note that our aim is to buy a dip in today's up-trend.

Also, PATIENCE is the key here: we need to patiently wait for the Hourly retracement. It might happen, and it might not.

Today on GBPUSD – Daily and H4 charts support Short trades, but…

2010-02-04T03:33:00.000-08:00

On the Daily chart above, we would observe the GBPUSD currency pair has been in a steep downward trend since Wed. 20th January, after hitting the upper edge of an upward or bullish channel. Currently, the bears have reached the lower edge of the channel, which, under normal circumstances, we would expect to act as a strong support area – especially with it coinciding with a strong support level: the most recent Daily swing low @ 1.5849 (which we’ve highlighted using the blue broken line).
However, earlier price action today saw price breaking below the 1.5849 level, and that weakens the notion of the bulls’ momentum being reduced by the lower edge of the bullish channel. Consequently, while keeping in mind possible bullish retracement, our bias, from a day trade perspective, continues to support the bears. Today’s candle close should give us a clearer picture of the direction price might be heading next.

On the H4 chart above, price broke the most recent swing low @ 1.5902 (which we’ve highlighted using the upper blue broken line) downward. That automatically sustained our bias in favor of a downward price move. The 1.5849 support level (that we’ve highlighted using the lower blue broken line), which we discussed on the Daily chart (together with the lower edge of the Daily chart bullish channel) is also seen on the H4 chart. The 1.5849 is a level we would prefer to see price break below decisively to be more convinced of the bears resolve to keep controlling price movement.
The white horizontal line @ 1.6069 highlights the most recent swing high, and as long as price stays below it – in the absence of any new and lower swing high – our bearish or downward bias remains intact.

However, in case we eventually have a clearer coast, we still need our Hourly charts – using Fibonacci retracement levels and important resistance levels – to seek promising areas to take our Short positions. Price pattern on the Hourly must also be forming lower highs and lower lows. Please note that our aim is to sell a rally in today’s down-trend.

Also, PATIENCE is the key here: we need to patiently wait for the Hourly retracement. It might happen, and it might not.

Today on EURUSD – Daily and H4 charts support Long trades, but…

2010-02-03T05:05:00.000-08:00

On the Daily chart above, as expected yesterday, the bulls took control of activities on the EURUSD pair in what we project to be just a bullish retracement in strong, longer term downward trend. We also discussed that, in case the bulls moved as anticipated, we expect the first critical resistance around the most recent Daily swing low @ 1.4028 (which we've highlighted using the lower blue broken line). Currently, price is around this 1.4028 level, hence we won’t be surprised to see the bulls’ move stalled. From a day-trade perspective, our bias remains bullish, but we need to be conscious of current price position – especially since the longer term trend supports the bears.
In case the bulls eventually break decisively above the 1.4028 level, the next critical resistance is expected around the most recent Daily swing high @ 1.4193 (which we've highlighted using the upper blue broken line). In all, with caution, our aim is to seek Hourly Long trade setups – supported by the H4 chart.

On the H4 chart above, yesterday, price broke the most recent swing high @ 1.3938 (which we've highlighted using the lower blue broken line) upward. That shifted our bias in favor of an upward price move. As discussed yesterday, another bullish sign supporting our daily bullish bias is the positive MACD Divergence observed on the H4 chart.
However, as mentioned on the Daily chart, the bigger picture shows a strong downtrend, and price is currently around a critical resistance level – the most recent Daily swing low @ 1.4028 (which we've highlighted on the H4 chart using the upper blue broken line). Again, this means the bears might attempt to resume their actions around this level – in case the currency pair is experiencing a shallow bullish retracement.
Altogether, for now, our bias remains bullish. The green horizontal line @ 1.3885 highlights the most recent swing low, and as long as price stays above it - in the absence of any new and higher swing low - our bullish or upward bias remains intact.

However, we still need our Hourly charts – using Fibonacci retracement levels and important support levels – to seek promising areas to take our Long positions. Price pattern on the Hourly must also be forming higher highs and higher lows. Please note that our aim is to buy a dip in today's up-trend.

Also, PATIENCE is the key here: we need to patiently wait for the Hourly retracement. It might happen, and it might not.

Today on EURUSD – Daily and H4 charts support Long trades, but…

2010-02-02T04:36:00.000-08:00

On the Daily chart above, we would observe the EURUSD pair has been in a strong longer term downtrend since November, last year; and no strong signal – fundamental or technical – indicate any imminent change of this trend. However, we are getting signals telling us there might be the possibility of a bullish retracement: For the first time in six trading days, yesterday’s candle closed as a bullish candle – forming a quasi reversal candle formation in the process – and that’s a good sign suggesting the bears might be going on a break. Hence, from a day trade perspective, we’re probably having the opportunity to take advantage of a possible bullish retracement by seeking Long trade setups on our Hourly charts – supported by the H4 chart.
In case the bulls move as anticipated, we expect the first critical resistance around the most recent Daily swing low @ 1.4028 (which we've highlighted using the lower blue broken line).

On the H4 chart above, price has breached the most recent swing high @ 1.3938 (which we've highlighted using the blue broken line) upward. That shifts our bias in favor of an upward price move. Although, as explained on the Daily chart, price’s big picture is in a strong downtrend, but another bullish sign supporting our daily bullish bias is the positive MACD Divergence observed on the H4 chart. While keeping in mind the overall bearish trend, it is relatively safe, from a day-trade perspective, to seek Hourly Long trade setups.
The green horizontal line @ 1.3852 highlights the most recent swing low, and as long as price stays above it - in the absence of any new and higher swing low - our bullish or upward bias remains intact.

However, we still need our Hourly charts – using Fibonacci retracement levels and important support levels – to seek promising areas to take our Long positions. Price pattern on the Hourly must also be forming higher highs and higher lows. Please note that our aim is to buy a dip in today's up-trend.

Also, PATIENCE is the key here: we need to patiently wait for the Hourly retracement. It might happen, and it might not.

Today on USDCHF – Daily and H4 charts support Long trades, but…

2010-02-01T00:56:00.000-08:00

On the Daily chart above, virtually throughout last week, price was in a very strong bullish mode, breaking in the process a previous, critical resistance confluence: the combination of a downward or bearish trend-line (the red solid line) and the most recent Daily swing high @ 1.0494 (identified by the yellow arrow). As also discussed on Friday, last week, the Daily chart of the USDCHF pair is forming higher-highs and higher-lows, which could be observed within an upward or bullish channel. All the above observations keep telling us is that the bulls are firmly in control. Hence our bias, from a day-trade perspective, remains bullish and we expect price to travel toward the upper edge of the bullish channel before encountering any major obstacle.
However, while our bias remains in favor of an upward move, to be more convinced of the bulls’ resolve to keep up the momentum, it wouldn’t be a bad idea to wait for price-break above the previous trading day’s high – Friday’s high @ 1.0641 (not highlighted) before seeking Hourly Long trade setups.

On the H4 chart above, price broke, at that time, the most recent swing high @ 1.0546 (which we've highlighted using the lower blue broken line) upward. That sustained our bias in favor of an upward price move. However, as mentioned on the Daily chart, before seeking Hourly Long trade setups, we would prefer to see price break above the most recent swing high – also Friday’s high @ 1.0641 (which we've highlighted using the upper blue broken line).
The green horizontal line @ 1.0480 highlights the most recent swing low, and as long as price stays above it - in the absence of any new and higher swing low - our bullish or upward bias remains intact.

However, we still need our Hourly charts – using Fibonacci retracement levels and important support levels – to seek promising areas to take our Long positions. Price pattern on the Hourly must also be forming higher highs and higher lows. Please note that our aim is to buy a dip in today's up-trend.

Also, PATIENCE is the key here: we need to patiently wait for the Hourly retracement. It might happen, and it might not.

Today on USDCHF – Daily and H4 charts support Long trades, but…

2010-01-29T04:42:00.000-08:00

On the Daily chart above, from the overall perspective, the medium term bullish trend is quite obvious. Currently, the USDCHF pair is forming higher-highs and higher-lows, which could be observed within an upward or bullish channel. Strengthening the case for a continuous bullish move – possibly toward the upper edge of the bullish channel – is the bulls’ eventual break above a previous, critical resistance confluence: the combination of a downward or bearish trend-line (the red solid line) and the most recent Daily swing high @ 1.0494 (identified by the yellow arrow). Price had a relatively decisive break above the resistance confluence as yesterday’s candle closed above it as a bullish candle.
Based on the above observation, our bias remains in support of price moving upward; however, price’s current inability to break above the previous day’s high @ 1.0554 (not highlighted) is not a good sign supporting the bulls’ resolve to push further upward today. Preferably, we would like to see price break above the 1.0554 level before seeking Long trade setups on the Hourly chart – supported by the H4 chart.

On the H4 chart above, price is yet to break above the most recent swing high @ 1.0546 (which we've highlighted using the blue broken line). That buttresses the need for us to exercise patience in seeking Long trade setups. Although our bias remains bullish, until price breaks above the 1.0546 level, it’s advisable not to long this pair.
Considering the time of this posting, and today being the last trading day of this week and month, there might not be much to do regarding this pair, today.
The green horizontal line @ 1.0474 highlights the most recent swing low, and as long as price stays above it - in the absence of any new and higher swing low - our bullish or upward bias remains intact.

However, in the unlikely event that the coast gets clearer today, we still need our Hourly charts – using Fibonacci retracement levels and important support levels – to seek promising areas to take our Long positions. Price pattern on the Hourly must also be forming higher highs and higher lows. Please note that our aim is to buy a dip in today's up-trend.

Also, PATIENCE is the key here: we need to patiently wait for the Hourly retracement. It might happen, and it might not.

Today on EURUSD – Daily and H4 charts support Short trades, but…

2010-01-28T01:30:00.000-08:00

On the Daily chart above, as anticipated yesterday, price collapsed further but was unable to close decisively below the critical support level – the most recent Daily swing low @ 1.4028 (which we’ve highlighted using the lower blue broken line): a sign that the bears were having some difficulties. However, by the early hours of today, the bears gathered more momentum to break further beneath the 1.4028 level – breaking below the previous day’s low @ 1.3992 (not highlighted) in the process; but again, based on current price action, the bears have been forced to retreat as price is now back at the 1.4028 area.
What the above scenario is simply telling us is that the bears are ready to push further downward, but the bulls are equally resolved not to make it a cake walk for them. Again, from a day-trade perspective, our bias remains bearish, but the coast isn’t too clear. Today’s candle’s close should offer more information about where price might be heading.

On the H4 chart above, price has broken the most recent swing low @ 1.4020 (which we’ve highlighted using the blue broken line) downward. That automatically sustains our bias in favor of a downward price move. However, to buttress our “caveat” observation on the Daily chart, we would observe a waving positive MACD divergence on the H4 chart which means a bullish retracement might be imminent. Also, we would observe that, though price broke sharply below the 1.4020 most recent swing low, it’s seriously struggling to stay comfortably below it. We need to exercise patience on this pair for now.
The white horizontal line @ 1.4178 highlights the most recent swing high, and as long as price stays below it – in the absence of any new and lower swing high – our bearish or downward bias remains intact.

However, in the case of a clearer coast, we still need our Hourly charts – using Fibonacci retracement levels and important resistance levels – to seek promising areas to take our Short positions. Price pattern on the Hourly must also be forming lower highs and lower lows. Please note that our aim is to sell a rally in today’s down-trend.

Also, PATIENCE is the key here: we need to patiently wait for the Hourly retracement. It might happen, and it might not.

Today on EURUSD – Daily and H4 charts support Short trades, but…

2010-01-27T02:41:00.000-08:00

On the Daily chart above, since early December, last year, the bears have been in control of the EURUSD and current price action is showing they are probably resolved to keep situation that way. After the sharp break below the upward or bullish channel, and a subsequent shallow bullish retracement that got stopped about 20 pips below a strong resistance level – the most recent Weekly swing low @ 1.4216 (which we’ve highlighted on the Daily chart using the upper blue broken line), price seems set to continue its southward journey: Yesterday’s candle closed as strong bearish candle and early market activity today has seen price break below the previous day’s low @ 1.4041 (not highlighted) and, more importantly, the most recent Daily swing low @ 1.4028 (which we’ve highlighted using the lower blue broken line). Consequently, we expect price to continue collapsing. Based on the above analysis, as expected, our bias is currently bearish, although very conservative traders might prefer to wait for today’s candle to close decisively below the 1.4028 level before placing their Short trades.

On the H4 chart above, price has broken the most recent swing low – also the previous day’s low @ 1.4041 (which we’ve highlighted using the upper blue broken line) downward. That automatically sustains our bias in favor of a downward price move. We would also observe on the H4 chart the important support level – the most recent Daily swing low @ 1.4028 (that we’ve highlighted using the lower blue broken line), which was discussed on the Daily chart. Currently, price has breached both the 1.4041 and 1.4028 levels. While there might be a tussle between the bulls and bears around these levels for a while, we expect price to eventually continue its southward move.
The white horizontal line @ 1.4193 highlights the most recent swing high, and as long as price stays below it – in the absence of any new and lower swing high – our bearish or downward bias remains intact.

However, we still need our Hourly charts – using Fibonacci retracement levels and important resistance levels – to seek promising areas to take our Short positions. Price pattern on the Hourly must also be forming lower highs and lower lows. Please note that our aim is to sell a rally in today’s down-trend.

Also, PATIENCE is the key here: we need to patiently wait for the Hourly retracement. It might happen, and it might not.

Nine Reasons For Your Money Trouble

2010-01-26T16:29:00.000-08:00

Personal Note: In this very helpful article, Steven reinforces the fact that, usually, the primary steps we need to take in order to achieve our personal finance dreams aren’t any elaborate, hardly-within-our-control steps, but those “simple” ones that are very much within our ability: they don’t cost anything – in terms of money – to actualize, they only require a resolved mind.

By [http://ezinearticles.com/?expert=Steven_Gillman]Steven Gillman

People have money trouble for different reasons. On the other hand, there are some mistakes and bad financial habits that are common in these situations. This explains why some people have these problems with money over and over. See if any of the following apply to you.

1. Not wanting to think about money.

If you didn't pay attention or think about where you were going when driving you would probably get lost and have accidents more often. The same is true of money. Many people just don't like to pay attention to it or think about it. Perhaps something from their past has caused them to think it isn't right to think about it, but the results are continual problems. Give it some thought.

2. Blaming situations and other people.

Sometimes a person is partly right about whose fault it is that they are broke or in financial trouble. But even then focusing on blaming outside forces it is the absolute worst approach to solving the problem. When you blame you give away power. Always look at what your role in the problem is and what you can do to correct or improve the situation.

3. Wanting appearances over reality.

If you want to look wealthier, go get a loan and buy that new car today. If you want to be wealthier, that's the worse thing you can do. Did you know that 40% of millionaires buy used cars? But this isn't about cars. It's about building wealth and using your money wisely. You probably can't guess who around you is a millionaire. Give up trying to create the illusion and start working on the reality.

4. Not knowing where it goes.

One big reason many people have money trouble is that they have no idea where the money goes. I had a friend who had pizza delivered three times per week for about $20 each time. I'll bet he didn't know he was spending over $3,000 per year on that one habit. Write down everything you spend and what you spent it on for a month or two and see what's really going on.

5. Not calculating real costs.

Once people decide they want something, they often play games with their own minds. They say "It only costs..." and ignore all the ongoing costs. When you buy a boat, for example, you have to consider not just the payments, but the cost to operate it, the insurance, the annual license and registration costs, repairs and maintenance, and so on. I can assure you that some people are paying $200 for each use of their small boats without ever knowing it. Do the math.

6. Thinking debt buys more things.

It is true that you can have more things right now by putting them on your credit cards. The part people forget is that this makes everything more expensive, and if you pay more for everything you buy, doesn't it make sense that over the course of your life you can't buy as much? You get better prices for cash, and you save the interest charges as well. Debt is for homes, business and investments. Pay cash for everything else.

7. Not controlling fixed expenses.

There are expenses you can easily stop at any time, like going out to eat or buying music. Then there are your more or less fixed expenses, like rent, electricity, gasoline for the car, insurance and so on. If your fixed expenses are too high you are in trouble every time your income dips or is interrupted, or something expensive happens. Rent a smaller place if necessary, get a high-mileage (used) car, and try to keep all the fixed costs in your life to half of your income.

8. Thinking financial surprises are unpredictable.

If unexpected car repairs or other surprises that cost less than a thousand dollars are the source of your financial problems, you need to start thinking about this differently. You don't know when the washing machine will die or when your insurance rates will rise, but you do know that these "surprises" will happen at some time, so you can plan for them. Set aside money every week for sudden expenses and it will be there when you need it.

9. Helping friends and family too much.

I have seen many people get into money trouble because of their generosity. Every time they have a bit of money saved a friend or family member has a need for it, and they help - or so they think. Money rarely changes people's situation if they don't know how to use it. And never quite getting your own financial situation right makes you less able to help others. Set your own house in order first, and then give wisely.

Copyright Steve Gillman. Learn more about avoiding [http://www.themeaningofmoney.com]Money Trouble, and get the free Money Matters Newsletter at: http://www.TheMeaningOfMoney.com

Article Source: [http://EzineArticles.com/?Nine-Reasons-For-Your-Money-Trouble&id=3570377] Nine Reasons For Your Money Trouble

Today on USDJPY – Daily and H4 charts support Short trades, but…

2010-01-25T22:28:00.000-08:00

On the Daily chart above, since yesterday, we’ve not seen much change based on our view of recent activities on the USDJPY pair: probably due to the lower edge of the downward or bearish channel, which we discussed earlier, yesterday’s price action ended in a bullish mode – creating an “inside candle” reversal candle pattern in the process. However, because of the Asian news that was released during early hours of today, price movement got rather volatile and, consequently, distorted the “ordered” story that was unfolding on the Daily chart as price collapsed sharply to break below the “inside candle” @ 89.77 (which we’ve highlighted using the blue broken line) – an action that weakened the strength of the reversal candle pattern.
Although, our bias remains bearish from a day trade perspective, price is yet to break decisively below the lower edge of the bearish channel; hence the coast remains to be very clear for us for us to seek Short trade setups on the Hourly chart – supported by the H4 chart.

On the H4 chart above, price broke the most recent swing low @ 89.94 (which we’ve highlighted using the blue broken line) downward. That automatically sustains our bias in favor of a downward price move. However, we would observe that price is struggling to stay below the 89.94 level as it was forced to sharply retrace upward after the initial break. That price action tells us, just as with yesterday’s, that the bears are still under threat. In all, our bias is still bearish, but the coast isn’t too clear.
The white horizontal line @ 90.56 highlights the most recent swing high, and as long as price stays below it – in the absence of any new and lower swing high – our bearish or downward bias remains intact.

However, for more aggressive traders, we still need our Hourly charts – using Fibonacci retracement levels and important resistance levels – to seek promising areas to take our Short positions. Price pattern on the Hourly must also be forming lower highs and lower lows. Please note that our aim is to sell a rally in today’s down-trend.

Also, PATIENCE is the key here: we need to patiently wait for the Hourly retracement. It might happen, and it might not.

Today on USDJPY – Daily and H4 charts support Short trades, but…

2010-01-25T01:25:00.000-08:00

On the Daily chart above, as stated in one of the previous analyses on the USDJPY pair, there’s a possibility that, with the current bearish move that started over two weeks ago, we are seeing the early stage of an overall bearish trend continuation. Price is currently making a lower-high-lower-low formation, which is partially captured within a “quasi” downward or bearish channel, and it’s one of the strongest signals confirming the bears’ reign.
However, we would observe price is currently around the lower edge of the bearish channel, hence there’s a possibility we might experience a bullish retracement on this currency pair soon. Buttressing a possible bullish retracement is price’s inability to break below the previous trading day’s low – Friday’s low @ 89.77 (not highlighted).
From a day-trade perspective, our bias is still bearish, but that position is threatened by recent price actions. To be on the safe side, especially for more conservative traders, it’s better to wait for a clearer coast before trading this pair.

On the H4 chart above, price is yet to break below the most recent swing low @ 89.80 (which we’ve highlighted using the blue broken line): a sign telling us the bears might be losing control. Also, we would observe that the most recent swing low @ 89.80 was formed only a few pips above the previous most recent swing low – also Friday’s low @ 89.77 (pointed out with the yellow arrow), forming a “double-bottom” reversal pattern in the process. These are all signs indicating all isn’t well with the bears at the moment.
As alluded to on the Daily chart, until the 89.77 support is broken, the case for a bearish move is weak – though our bias is still bearish. The white horizontal line @ 90.56 highlights the most recent swing high, and as long as price stays below it – in the absence of any new and lower swing high – our bearish or downward bias remains intact.

However, if we eventually have a clearer coast, we still need our Hourly charts – using Fibonacci retracement levels and important resistance levels – to seek promising areas to take our Short positions. Price pattern on the Hourly must also be forming lower highs and lower lows. Please note that our aim is to sell a rally in today’s down-trend.

Also, PATIENCE is the key here: we need to patiently wait for the Hourly retracement. It might happen, and it might not.

Today on USDCHF – Daily and H4 charts support Short trades.

2010-01-22T03:35:00.000-08:00

On the Daily chart above, we would observe that yesterday’s price action ended in a reversal candle pattern formed around the resistance area (or a quasi resistance confluence) consisting of a Weekly swing high @ 1.0452 (which we’ve highlighted on the Daily chart using the blue broken line) and the upper edge of a symmetrical triangle formation. Although, that single action in itself is a strong signal that a bearish retracement is imminent or has commenced, price breaking below the previous day’s low @ 1.0402 has further strengthened the possibility of price travelling southward. As expected, our bias now favors the bears.
In case price eventually swoons, we expect the lower edge of the symmetrical triangle to be the next strong support level.

On the H4 chart above, price has broken the most recent swing low @ 1.0419 (which we’ve highlighted using the blue broken line) downward. That automatically shifts our bias in favor of a downward price move.
The white horizontal line @ 1.0494 highlights the most recent swing high, and as long as price stays below it – in the absence of any new and lower swing high – our bearish or downward bias remains intact.

However, we still need our Hourly charts – using Fibonacci retracement levels and important resistance levels – to seek promising areas to take our Short positions. Price pattern on the Hourly must also be forming lower highs and lower lows. Please note that our aim is to sell a rally in today’s down-trend.

Also, PATIENCE is the key here: we need to patiently wait for the Hourly retracement. It might happen, and it might not.

Today on GBPUSD – Daily and H4 charts support Short trades.

2010-01-21T06:58:00.000-08:00

On the Daily chart above, the bearish retracement we’ve anticipated since Tuesday that was initiated by the resistance level of a Daily swing high @ 1.6409 (which we’ve highlighted using the upper blue broken line), is proving to be a deep retracement. Yesterday, price reacted to, at that time, a potential support level – the most recent Daily swing high @ 1.6240 (that we’ve highlighted using the lower blue broken line), which we discussed the previous day as a “the new support level under focus… that might stall the bearish retracement.” Consequently, the bears were unable to break the 1.6240, and that resulted in yesterday’s low @ 1.6242 – just a couple of pips above 1.6240.
However, earlier today, the bears were able to gather enough momentum to break below the 1.6240 level – automatically breaking the previous day’s low @ 1.6242 in the process. From a day-trade perspective, our bias remains bearish. The next important support level is expected at the upward or bullish trend-line (which is represented by the red dashed line).

On the H4 chart above, price has broken the most recent swing low – also the previous day’s low @ 1.6242 (which we’ve highlighted using the blue broken line) downward. That automatically sustains our bias in favor of a downward price move. The next important support level, the upward or bullish trend-line (represented by the red dashed line), which we discussed on the Daily chart, is also seen on the H4 chart. Let’s have it in mind.
The white horizontal line @ 1.6310 highlights the most recent swing high, and as long as price stays below it – in the absence of any new and lower swing high – our bearish or downward bias remains intact.

However, we still need our Hourly charts – using Fibonacci retracement levels and important resistance levels – to seek promising areas to take our Short positions. Price pattern on the Hourly must also be forming lower highs and lower lows. Please note that our aim is to sell a rally in today’s down-trend.

Also, PATIENCE is the key here: we need to patiently wait for the Hourly retracement. It might happen, and it might not.

Today on GBPUSD – Daily and H4 charts support Short trades, but…

2010-01-20T02:10:00.000-08:00

On the Daily chart above, yesterday, we identified a Daily swing high @ 1.6409 (which we’ve highlighted using the upper blue broken line) as a potential resistance level that might be a “temporarily insurmountable hurdle that would trigger the bearish retracement.” By the close of yesterday’s candle, it became somewhat clear the 1.6409 was ready to do exactly what we expected of it: fueled by the Core CPI report from Britain @ 09:30GMT, yesterday, price surged to pierce the 1.6409 resistance, but didn’t have enough strength to stay above it. Consequently, the bulls were forced to retreat and yesterday’s candle closed as a reversal candle. Early price action today has further confirmed the strength of the 1.6409 resistance as price broke below previous day’s low @ 1.6311 (not highlighted).
However, bearing in mind the possibility of the current bearish move being a bearish retracement, the most recent Daily swing high @ 1.6240 (which we’ve highlighted using the lower blue broken line) is the new support level under focus: given the fact that the 1.6240 support coincides with the fib 38.2% retracement level (drawing the fib from most recent Daily swing low @ 1.5895 to yesterday’s high @ 1.6457), which isn’t shown on the chart to avoid a cluttered chart, there’s a possibility the 1.6240 might stall the bearish retracement.
In all, from a day-trade perspective, our bias has shifted in favor of the bears, but let’s keep in mind the support confluence around the 1.6240 level.

On the H4 chart above, price has broken the most recent swing low – also the previous day’s low @ 1.6311 (which we’ve highlighted using the upper blue broken line) downward. That automatically shifts our bias in favor of a downward price move. The new support level under focus, the 1.6240 level (that we’ve highlighted using the lower blue broken line), which we discussed on the Daily chart, is seen on the H4 chart. Please let’s bear this level in mind.
However, we’re seeing further sign on the H4 chart that’s telling us the current bearish retracement might not be a shallow one: we have a negative MACD Divergence that’s already in place. A MACD divergence is a relatively strong signal.
The white horizontal line @ 1.6457 highlights the most recent swing high, and as long as price stays below it – in the absence of any new and lower swing high – our bearish or downward bias remains intact.

However, we still need our Hourly charts – using Fibonacci retracement levels and important resistance levels – to seek promising areas to take our Short positions. Price pattern on the Hourly must also be forming lower highs and lower lows. Please note that our aim is to sell a rally in today’s down-trend.

Also, PATIENCE is the key here: we need to patiently wait for the Hourly retracement. It might happen, and it might not.

P.S. Primarily because of the identified 1.6240 support confluence, more conservative trader might opt to refrain from trading this pair for now.

Today on GBPUSD – Daily and H4 charts support Long trades, but…

2010-01-19T01:20:00.000-08:00

On the Daily chart above, as anticipated, the bulls continued their movement yesterday in a very decisive manner, and earlier price action today showed their resolve to keep moving on. However, price is currently around another resistance level – a Daily swing high @ 1.6409 (which we’ve highlighted using the upper blue broken line). Considering the very steep nature of the ongoing bullish move, which started more than a week ago, it’s reasonable to expect at least a shallow bearish retracement, and the 1.6409 level might be that temporarily insurmountable hurdle that would trigger the bearish retracement. But for now, all we know is the bulls are still fully in control, and consequently, our bias remains bullish - except that we should tread with extra caution i.e. we should be more conscious of subsequent price actions on the lower time frame charts.

On the H4 chart above, price has broken the most recent swing high @ 1.6378 (which we've highlighted using the lower blue broken line) upward. That sustains our bias in favor of an upward price move. However, we would observe price is currently reacting to the 1.6409 resistance level (that we’ve highlighted using the upper blue broken line), which we discussed on the Daily chart. For now, we can’t deduce much, but once the current H4 candle is fully formed, it could give a clue on where price might be heading.
The green horizontal line @ 1.6209 highlights the most recent swing low, and as long as price stays above it - in the absence of any new and higher swing low - our bullish or upward bias remains intact.

However, we still need our Hourly charts – using Fibonacci retracement levels and important support levels – to seek promising areas to take our Long positions. Price pattern on the Hourly must also be forming higher highs and higher lows. Please note that our aim is to buy a dip in today's up-trend.

Also, PATIENCE is the key here: we need to patiently wait for the Hourly retracement. It might happen, and it might not.

Today on GBPUSD – Daily and H4 charts support Long trades.

2010-01-18T02:51:00.000-08:00

On the Daily chart above, on Wednesday, last week, price broke above a former important resistance level - the most recent Daily swing high @ 1.6240 (which we’ve highlighted using the blue broken line), and as a result, our bullish bias was reinforced. As usual, when a resistance level is broken, it turns to a potential support level, and that is exactly the situation that occurred in the case of the broken 1.6240 resistance (now former resistance): we would observe that, after the Wednesday-break, price moved further upward on Thursday, but retraced on Friday to test the 1.6240 level, which then acted, expectedly, as a support level. The 1.6240 proved to be a strong support as price hit it and bounced back upward to break the previous trading day’s high – Friday’s high @ 1.6355 (not highlighted). Consequently, our bullish bias remains on this currency pair.
Based on the overall scenario, the coast seems clear enough for us to seek Long trade setups on our Hourly charts – supported by the H4 chart.

On the H4 chart above, price has broken the most recent swing high @ 1.6355 (which we've highlighted using the blue broken line) upward. That sustains our bias in favor of an upward price move.
The green horizontal line @ 1.6209 highlights the most recent swing low, and as long as price stays above it - in the absence of any new and higher swing low - our bullish or upward bias remains intact.

However, we still need our Hourly charts – using Fibonacci retracement levels and important support levels – to seek promising areas to take our Long positions. Price pattern on the Hourly must also be forming higher highs and higher lows. Please note that our aim is to buy a dip in today's up-trend.

Also, PATIENCE is the key here: we need to patiently wait for the Hourly retracement. It might happen, and it might not.

Stop Worrying About Personal Finances and Enjoy What You Have

2010-01-17T13:44:00.000-08:00

Personal Note: One of my most cherished statements happens to be the title of a book: Enjoying Where You Are On The Way To Where You Are Going (by Joyce Meyer). I believe the statement succinctly describes the priceless message Jay is trying to pass across in this article. I believe a major gauge of success in personal finance is the ability to enjoy the process of achieving our financial goal, and not just arriving at the destination. After all, “ultimate destination” in itself is arguably an illusion – at least in this life.

By [http://ezinearticles.com/?expert=Jay_F_Scott]Jay F Scott

If you are like most people, your finances is not where you want them to be at the moment. Some people spend their time worrying about how they will get their finances in order and forget to enjoy what they already have.

Yes! Your finances is important and you should work hard to get it under control, but spending your time worrying will not help you. Achieving your financial goals will not happen over night, it will take time. As long as you continue to give it your best and complete your short term goals, success will come. In the mean time try to enjoy your life. One of the worst mistake you can make it leaving entertainment out of your budget. We are human and we need to laugh and have fun.

The only time you should have your finances on your mind is when it is time to deal with them. When you get your check, when you are paying your bills or when you are allocating your savings, the rest of the time should be spent having fun with your family and friends.

If you have a hobby make time for it, if you don't then find something you love and do it. If it cost money, work it into your budget, if it is expensive save for it. Spending time with your family should be a priority over everything, do not let money stop you from having fun. Save for a family vacation, if money is tight, have one every other year instead of every year. If you can not afford to go to the movies rent a movie and watch it at home together, do not cut out entertainment completely for yourself and your family, it will never work.

Life is short and you cannot take your money with you when you die. Spending your time worrying about money will only make your life shorter and miserable. Go out and enjoy what you have and stop killing your self worrying about what you don't have. What are you waiting for, GO!

Read more informative articles like this a jinij.com where I write about everything from [http://www.jinij.com/entry-level-finance/]entry level finance to [http://www.jinij.com/personal-finance-training/]personal finance training.

Article Source: [http://EzineArticles.com/?Stop-Worrying-About-Personal-Finances-and-Enjoy-What-You-Have&id=3545877] Stop Worrying About Personal Finances and Enjoy What You Have

Today on USDJPY – Daily and H4 charts support Short trades, but…

2010-01-15T02:31:00.000-08:00

On the Daily chart above, the bears seem set to continue their “campaign” with price breaching the most recent swing low @ 90.71 (which we’ve highlighted using the blue broken line) downward. The whole downward move that was probably triggered, partly, by a not too visible negative MACD divergence could possibly be the end of the bulls’ reign that started around late November, last year. Based on the big picture (please refer to your Monthly charts), this current bearish move could as well be the resumption of a very long term downward trend that the USDJPY currency pair has been experiencing for years.
However, from a day-trade perspective, although price has breached the 90.71 support, which signifies the possibility of price’s downward movement continuing, it (price) is yet to break below it (90.71 support) decisively; hence, more conservative traders might prefer to see today’s candle close below the support level before seeking Hourly Short trade setups – supported by the H4 chart. Unfortunately, that means keeping off this pair for today.

On the H4 chart above, price has broken the most recent swing low @ 90.83 (which we’ve highlighted using the upper blue broken line) downward. That automatically sustains our bias in favor of a downward price move. The 90.71 support level (that we’ve highlighted using the lower blue broken line), which we discussed on the Daily chart is also seen on the H4 chart. We could observe the 90.83 and 90.71 support levels are rather close; that strengthens the notion that the bears are currently around a very strong support area and it would be preferable to see price break below the area decisively to be more convinced of the bears resolve – as alluded to on the Daily chart,.
The white horizontal line @ 92.03 highlights the most recent swing high, and as long as price stays below it – in the absence of any new and lower swing high – our bearish or downward bias remains intact.

However, we still need our Hourly charts – using Fibonacci retracement levels and important resistance levels – to seek promising areas to take our Short positions. Price pattern on the Hourly must also be forming lower highs and lower lows. Please note that our aim is to sell a rally in today’s down-trend.

Also, PATIENCE is the key here: we need to patiently wait for the Hourly retracement. It might happen, and it might not.

Today on GBPUSD – Daily and H4 charts support Long trades.

2010-01-14T02:38:00.000-08:00

On the Daily chart above, recent price actions have reversed the bearish trend that we’ve been familiar with for the past two months: yesterday, price broke above an important resistance level – the most recent Daily swing high @ 1.6240 (which we’ve highlighted using the blue broken line), and, as a result, we are beginning to see price pattern having a higher-high, higher-low formation, which is a very strong sign of a bullish scenario. At least for the time being, we expect price to continue moving northward, hence, our bias from a day-trade perspective has further strengthened in favor of the bulls. Furthermore, price has broken above yesterday’s high @ 1.6306 (not highlighted): a further confirmation of the bulls’ resolve.
Based on the overall scenario, the coast seems clear enough for us to seek Long trade setups on our Hourly charts – supported by the H4 chart.

On the H4 chart above, price has broken the most recent swing high @ 1.6193 (which we've highlighted using the blue broken line) upward. That sustains our bias in favor of an upward price move.
The green horizontal line @ 1.6135 highlights the most recent swing low, and as long as price stays above it - in the absence of any new and higher swing low - our bullish or upward bias remains intact.

However, we still need our Hourly charts – using Fibonacci retracement levels and important support levels – to seek promising areas to take our Long positions. Price pattern on the Hourly must also be forming higher highs and higher lows. Please note that our aim is to buy a dip in today's up-trend.

Also, PATIENCE is the key here: we need to patiently wait for the Hourly retracement. It might happen, and it might not.

Today on USDJPY – Daily and H4 charts support Short trades, but…

2010-01-13T02:40:00.000-08:00

On the Daily chart above, before the close of yesterday’s candle, price broke below the critical support level – the most recent Daily swing low @ 91.24 (that we’ve highlighted using the blue broken line), which we discussed yesterday. Consequently, our day-trade bias remains bearish, and now the medium term bias has followed suit. However, to further confirm the 91.24 level has been decisively broken, we would like to see price move below yesterday’s low @ 90.71 (not highlighted).
Price is probably, at the moment, in a bullish retracement on higher time frames i.e. time frame charts higher than the Hourly chart, hence, based on the method discussed on this thread, we might need to exercise patience before seeking Short trade setups on our Hourly charts – supported by the H4 chart.

On the H4 chart above, price broke, at that time, the most recent swing low @ 91.80 (which we’ve highlighted using the upper blue broken line) downward. That automatically sustained our bias in favor of a downward price move.
However, as discussed on the Daily chart, price, at the moment, seems to be in a bullish retracement and we would like to see price break below a new support level – yesterday’s low as well as the most recent H4 swing low @ 90.71 for us to be more convinced of the bears readiness to push further downward.
The white horizontal line @ 92.65 highlights the most recent swing high, and as long as price stays below it – in the absence of any new and lower swing high – our bearish or downward bias remains intact.

However, once we have a clearer coast, we still need our Hourly charts – using Fibonacci retracement levels and important resistance levels – to seek promising areas to take our Short positions. Price pattern on the Hourly must also be forming lower highs and lower lows. Please note that our aim is to sell a rally in today’s down-trend.

Also, PATIENCE is the key here: we need to patiently wait for the Hourly retracement. It might happen, and it might not.

Today on USDJPY – Daily and H4 charts support Short trades, but…

2010-01-12T02:18:00.000-08:00

On the Daily chart above, last week Friday, we discussed the possibility of a bearish retracement based on certain signals – one of which was a waving negative MACD Divergence. Although, as earlier said, a waving MACD Divergence is relatively not a very strong indicator of future price movement, it was however good enough to caution us.
With recent events, it turned out the bearish signals were helpful as price has been in a bearish mode for a couple of days now. From a medium term perspective, our bullish bias remains intact until price breaks below a critical support level – the most recent Daily swing low @ 91.24 (which we’ve highlighted using the blue broken line). Contrastingly, from a day-trade perspective, which is our focus on this thread, our bias has shifted in favor of the bears. However, price’s downward move is getting close to the critical support level @ 91.24, and the bears might experience difficulties breaking below it. Due to this proximity of current price position to the support level, more conservative traders might prefer to wait and see price break below it before seeking Hourly Short trade setups – supported by the H4 chart.

On the H4 chart above, price has breached the most recent swing low @ 91.80 (which we’ve highlighted using the upper blue broken line) downward. That automatically sustains our bias in favor of a downward price move.
We could observe, more clearly, the now valid negative MACD Divergence: that gives additional support to the current downward movement. We could also observe on the H4 chart the important 91.24 support level (which we’ve highlighted using the lower blue broken line) that we discussed on the Daily chart. Price is currently about 60 pips away from the support level; hence, for more aggressive traders, there seems to be enough room to go short on this currency pair based on the Hourly setups.
The white horizontal line @ 92.65 highlights the most recent swing high, and as long as price stays below it – in the absence of any new and lower swing high – our bearish or downward bias remains intact.

However, we still need our Hourly charts – using Fibonacci retracement levels and important resistance levels – to seek promising areas to take our Short positions. Price pattern on the Hourly must also be forming lower highs and lower lows. Please note that our aim is to sell a rally in today’s down-trend.

Also, PATIENCE is the key here: we need to patiently wait for the Hourly retracement. It might happen, and it might not.

Today on GBPUSD – The bears reign under threat…

2010-01-11T01:49:00.001-08:00

On the Daily chart above, since November, last year, the GBPUSD pair has been in a bearish mode – forming new lower highs and lower lows. However, current price action, which started on Friday, last week, is giving indications the bears might be losing their grip – at least for a while: Price was unable to move down close to – let alone break below – the most recent Daily swing low @ 1.5831 (which we’ve highlighted using the lower blue broken line). A break below the 1.5831 level would have suggested the bears were ready to push further downward. Also, price is yet to break above the most recent Daily swing high @ 1.6240 (which we’ve highlighted using the upper blue broken line). A break above the 1.6240 level would give a strong sign the bears have lost momentum.
As a result of the situation analyzed above, it’s reasonable to conclude that the GBPUSD is currently in a state of indecision. This indecisive mode is well captured in the current symmetrical triangle formation observed on the Daily chart.
Although, from a day-trade perspective, current price action is supporting a bullish bias more than a bearish one, we have enough reasons to be cautious of seeking Long trade setups. Moreover, the “gap” created as a result of the difference between Friday’s close @ 1.6020 and Monday’s open @ 1.6057 is expected to be closed-up – and that would necessitate a bearish move. Hence, more conservative traders might prefer to wait for a clearer coast before placing trades today.

On the H4 chart above, price has broken the most recent swing high @ 1.6109 (which we've highlighted using the blue broken line) upward. That shifts our bias in favor of an upward price move. However, we would also observe in closer proximity price’s action around the upper edge of the symmetrical triangle mentioned on the Daily chart. Again, we have enough reasons to be cautious of seeking Long trade setups for now, and more conservative traders might prefer to wait for a clearer coast before placing trades today.
The green horizontal line @ 1.5895 highlights the most recent swing low, and as long as price stays above it - in the absence of any new and higher swing low - our bullish or upward bias remains intact.

However, for more aggressive traders, we still need our Hourly charts – using Fibonacci retracement levels and important support levels – to seek promising areas to take our Long positions. Price pattern on the Hourly must also be forming higher highs and higher lows.

Also, PATIENCE is the key here: we need to patiently wait for the Hourly retracement. It might happen, and it might not.

Today on USDJPY – NFP Rules.

2010-01-08T02:13:00.000-08:00

Pls NOTE: As always, if there’s one particular day in every month that trending method/pattern traders should be wary of trading most, it has to be the first Fridays of every month when the Non-Farm Payroll (NFP) report is usually released.
While I’ll go ahead to give my personal analysis on the USDJPY pair, please, let’s bear in mind that, regardless of any technical analyses, NFP usually rules today.

On the Daily chart above, we would observe a steep upward movement in price, which is captured within a relatively narrow upward or bullish channel. In line with the longer term upward trend, the bulls were fully in charge yesterday. However, early price action today is showing the possibility of, at least, a shallow bearish retracement as price couldn’t break above previous day’s high @ 93.76 (not highlighted). Also, though barely noticeable, we would observe a waving negative MACD divergence if we look closely. That is a sign supporting the possibility of a bearish retracement.
Pls NOTE: A waving MACD divergence is yet to be a valid divergence; hence it’s a relatively weak indicator.

On the H4 chart above, price broke, at that time, the most recent swing high @ 92.73 (which we’ve highlighted using the blue broken line) upward. That automatically sustained our bias in favor of an upward price move. However, to buttress our “bearish retracement” observation on the Daily chart, the waving negative MACD Divergence is more noticeable on the H4. Again, in line with the longer term upward trend, our bias remains bullish, but current price action is telling us to exercise patience in seeking long trade setups on the this currency pair as it seems the bears are resolved to fight back – even if it’s only for a while.
The green horizontal line @ 92.09 highlights the most recent swing low, and as long as price stays above it – in the absence of any new and higher swing low – our bullish or upward bias remains intact; but, again, today is “NFP Day”, please let’s keep that in mind.

How to Become Financially Intelligent in the 21st Century

2010-01-07T14:14:00.001-08:00

Personal Note: In this article, Chris talks about the place of goal-setting in becoming financially intelligent. From a viewpoint, it’s arguable that we first need to become financially intelligent to be able to set informed personal finance goals; but “digging deeper,” we would realize that, while the above statement is true, we also become financially intelligent only by taking the first baby-step in setting financial goals and refusing to stop setting them regardless of how many times we “stumble” – a cyclical process, so to speak.

By [http://ezinearticles.com/?expert=Chris_Parkins]Chris Parkins

Financial Intelligence is a matter of retraining yourself to make your money work for you instead of just spending it. You can have all the luxuries in the world, but without a means to make your money work then all you will have is a bunch of stuff you may have to sell later down the road. You can have all the assets, but unless they are working for you they may be worth little. Understanding how the financial system works will help when you plan goals.

When beginning to plan your goal think about what you can do that will result in the financial goals you want to achieve. Will this idea continue to make you money in the future or it is a passing fancy? It is also important to think of the liabilities you have and those that you may face along the way. By having a clear picture laid out you are able to adjust to situations as they arise and act in a positive manner.

People who are successful have a clear goal in mind. They are focused and have thought out their plan so that they can see the final results. They also have the drive and determination it takes to accomplish these goals. When you create a plan to achieve your goals, whether you start with planning a day ahead or a month down the road you are stepping toward obtaining your dream.

There are several traits that will help you become financially intelligent. This includes thinking creatively. This is an invaluable asset, in which you are able to creatively solve the challenges you face. If this means stepping up when you realize no one else has a clue what to do, then so be it.

Once you have set your goals and you know what must be done and you will have to negotiate with others in order to succeed. By learning to negotiate it means you will never take no for an answer, and will succeed by working together with others to accomplish your goal.

In order to be successful you also need to know how to communicate. You will find that not everyone thinks the same way you do, so learning to communicate to a wide audience is important. And, part of being a good communicator is the ability listen, and then you will be able to respond appropriately to the situation.

Another key trait is to never let your emotions get the best of you. If you are faced with a difficult situation you need to remain focused and consciously be able to respond to the event. Flying of the handle and getting mad can be considered unprofessional and will accomplish nothing except showing you cannot handle the situation.

Being financially intelligent is a way of rearranging your thoughts to see the world in a new way. Once you have determined your path and goals, then you will need to market them. You will have an advantage over your competition because your will know how to communicate your goals, and the benefits of working with you.

Just as with your health, it is wise to seek the advice of a professional when you have questions about your educational and financial well being.

For more information about making more money, or starting your own online [http://www.pyxismpreneurs.com]pyxism business, visit [http://www.pyxismpreneurs.com]http://www.pyxismpreneurs.com.

Article Source: [http://EzineArticles.com/?How-to-Become-Financially-Intelligent-in-the-21st-Century&id=3512438] How to Become Financially Intelligent in the 21st Century

Today on GBPUSD – Daily and H4 charts support Short trades.

2010-01-07T02:49:00.000-08:00

On the Daily chart above, again in line with our expectation yesterday, price had its bullish retracement, and then subsequently resumed its bearish move toward the lower edge of the “minor” downward or bearish channel. Although, yesterday’s candle closed as a “doji” – signaling the possibility of a deeper bullish retracement – price disregarded the sign and went ahead to break the previous day’s low @ 1.5936 (not highlighted). Now that the coast seems much clearer, the bearish channel’s lower edge – as the next important support level – is back in focus. Another critical support level we should keep in mind is the most recent Daily swing low @ 1.5831 (that we’ve highlighted using the blue broken line), which is currently some pips above the channel’s lower edge. We should consider the area between the 1.5831 level and the channel’s lower edge as a possible bulls’ zone as price moves further downward toward the area.

On the H4 chart above, price has broken the most recent swing low @ 1.5936 (which we’ve highlighted using the upper blue broken line) downward. That automatically sustains our bias in favor of a downward price move. We could observe on the H4 chart the important 1.5831 support level (which we’ve highlighted using the lower blue broken line) that we discussed on the Daily chart. Price is currently about a 100 pips away from the support level; hence, we seem to have enough room to go short on the currency pair based on the Hourly setups.
The white horizontal line @ 1.6057 highlights the most recent swing high, and as long as price stays below it – in the absence of any new and lower swing high – our bearish or downward bias remains intact.

However, we still need our Hourly charts – using Fibonacci retracement levels and important resistance levels – to seek promising areas to take our Short positions. Price pattern on the Hourly must also be forming lower highs and lower lows. Please note that our aim is to sell a rally in today’s down-trend.

Also, PATIENCE is the key here: we need to patiently wait for the Hourly retracement. It might happen, and it might not.

Today on GBPUSD – Daily and H4 charts support Short trades, but...

2010-01-06T02:21:00.000-08:00

On the Daily chart above, in line with our expectation yesterday, price continued its bearish move and closed as a bear-bodied candle which, to an extent, signifies the strength of the bears. Earlier today, price collapsed further to break below the previous day’s low @ 1.5964 (not highlighted): another good sign confirming the downward price movement, most likely, still has momentum. However, currently, from a day-trade point of view, price seems to be in a bullish retracement; hence we might have to wait for a clearer coast before placing our Short trades on this currency pair.
The Hourly lower-high, lower-low price formation, which is a condition that must be met before seeking Short trades – based on the primary method discussed on this thread – would be a good way of determining the appropriate time to start seeking today’s Short trades.
As previously mentioned, once the bears resume their actions, we expect the next important support level to be the lower edge of the “minor” bearish channel.

On the H4 chart above, yesterday, price broke the most recent swing low @ 1.6056 (which we’ve highlighted using the blue broken line) downward. That automatically sustained our bias in favor of a downward price move. As discussed on the Daily chart, analyzing from a day-trade perspective, we would observe price is currently having a bullish retracement; hence, a clearer coast (as discussed above) should be helpful before seeking Short trades today.
The white horizontal line @ 1.6152 highlights the most recent swing high, and as long as price stays below it – in the absence of any new and lower swing high – our bearish or downward bias remains intact.

However, we still need our Hourly charts – using Fibonacci retracement levels and important resistance levels – to seek promising areas to take our Short positions. Price pattern on the Hourly must also be forming lower highs and lower lows. Please note that our aim is to sell a rally in today’s down-trend.

Also, PATIENCE is the key here: we need to patiently wait for the Hourly retracement. It might happen, and it might not.

Today on GBPUSD – Daily and H4 charts support Short trades.

2010-01-05T02:45:00.000-08:00

On the Daily chart above, since late last year we’ve been monitoring price behavior within two downward or bearish channels: a “minor” channel (the red channel) which is seen within a “major” channel (the faint gray channel). The minor bearish channel, for quite a while now, has been doing a very good job of guiding price’s upward and downward moves. Yesterday, price hit the upper edge of the “minor” bearish channel, reversed rather sharply and consequently closed as a reversal candle formation. That price action signaled a strong possibility of the bears resuming their action in an overall or longer term bearish trend. Further buttressing the bears resolve is earlier price action today, which resulted in price breaking below the previous day’s low @ 1.6056 (not highlighted). From a day-trade perspective, our bias is now in favor of the bears. The coast seems clear enough for us to seek Hourly Short trade setups – supported by the H4 chart.
We expect the next important support level to be the lower edge of the “minor” bearish channel.

On the H4 chart above, price has broken the most recent swing low @ 1.6056 (which we’ve highlighted using the blue broken line) downward. That automatically sustains our bias in favor of a downward price move.
The white horizontal line @ 1.6240 highlights the most recent swing high, and as long as price stays below it – in the absence of any new and lower swing high – our bearish or downward bias remains intact.

However, we still need our Hourly charts – using Fibonacci retracement levels and important resistance levels – to seek promising areas to take our Short positions. Price pattern on the Hourly must also be forming lower highs and lower lows. Please note that our aim is to sell a rally in today’s down-trend.

Also, PATIENCE is the key here: we need to patiently wait for the Hourly retracement. It might happen, and it might not.

Today on EURUSD – Daily and H4 charts support Short trades, but…

2010-01-04T00:22:00.000-08:00

On the Daily chart above, starting around the beginning of the last month in 2009, December, the EURUSD pair got caught in a very strong wave of a downward price movement which, most likely, was partly triggered by a negative MACD divergence observed on the Daily chart. The pair later had a shallow bullish retracement which met strong resistance about 20 pips away from a critical resistance level – a previous Weekly swing low @ 1.4480 (which we’ve highlighted on the Daily chart using the upper blue broken line).
Observing current price movement, the bears seem set to continue their movement, however, there’s a critical support level – the most recent Daily swing low @ 1.4216 (that we’ve highlighted using the lower blue broken line), which we would like to see price break below to be further convinced of the bears’ resolve. In all, our bias is bearish. Conservative traders would probably wait for the break of the 1.4216 level before seeking any Hourly Short trade setup – supported by the H4 chart.

On the H4 chart above, price has breached the most recent swing low @ 1.4272 (which we’ve highlighted using the upper blue broken line) downward. That automatically sustains our bias in favor of a downward price move. However, we would notice price is struggling to stay below the 1.4272 level – a sign that the bears might currently be facing some hurdles; and that buttresses the suggestion discussed on the Daily chart that we would prefer price to break below a critical support level – the most recent Daily swing low @ 1.4216 (that we’ve highlighted on the H4 chart using the lower blue broken line) to be convinced of the bears’ readiness to keep moving.
Price is currently about a 100 pips away from the 1.4216 level, hence, more aggressive traders might attempt to seek an Hourly Short trade setup while keeping in mind that the EURUSD pair is possibly, currently within the bulls’ zone.
The white horizontal line @ 1.4439 highlights the most recent swing high, and as long as price stays below it – in the absence of any new and lower swing high – our bearish or downward bias remains intact.

However, we still need our Hourly charts – using Fibonacci retracement levels and important resistance levels – to seek promising areas to take our Short positions. Price pattern on the Hourly must also be forming lower highs and lower lows. Please note that our aim is to sell a rally in today’s down-trend.

Also, PATIENCE is the key here: we need to patiently wait for the Hourly retracement. It might happen, and it might not.

Top Five Tips For Success With Your Financial New Year's Resolutions

2010-01-03T03:45:00.000-08:00

Personal Note: As we’ve started a new year, many of us, possibly, have also started working toward our individual New Yew resolutions – including financial ones. In this article, J. Douglas Hoyes offers a few helpful tips on how to carry through our personal finance plans this year. Like most other tips, they aren’t ones we’ve most likely haven’t heard before, but reminding ourselves of these insights would go a long way toward keeping us on track.

By [http://ezinearticles.com/?expert=J._Douglas_Hoyes]J. Douglas Hoyes

As we suffer through a very long recession, many people will want to start the new year off with their financial New Year's Resolutions. Here are my top five tips for success with your financial New Year's Resolutions:

1. Set real, measurable goals. "I want to save money" is not a goal. "I want to save $50 per week" is a goal. "I want to save $50 per week so I can buy a $5,000 car in 100 weeks" is a clear, measurable goal. If you goal is clear and measurable, you are much more likely to succeed.

2. Make a plan to reach your goals. You want to save $300 per month: how are you going to do it? Make a list of specific expenses you can cut to reach your goal, or identify ways to increase your income. A goal without a plan to achieve the goal is not a real goal.

3. The best way to reach your goals is by making a personal budget. A budget is just a list of what comes in and what goes out every month. It doesn't have to be fancy. Use a piece of paper and a pencil, or a computer, but put it in writing! You need a list in front of you to see what you can cut.

4. If you have debts, make a plan to pay off your debts. Every financial expert will tell you to start a savings plan, but if you are in debt a savings plan is not your priority: your priority is to get out of debt. Start by making a list of your debts: write down the name of the lender, the amount owing, and the interest rate. Many people have no idea how much they owe in total until they write it down. Then, prioritize your debts in the order that you want to pay them off. Don't make the mistake of trying to repay your smallest debts first so that you have fewer bills to pay; instead, start with your highest interest rate debts. Paying off a department store credit card with a 25% interest rate will save you more money in the long run than paying off your line of credit with a 10% interest rate.

5. Finally, if your goal is to get out of debt, and if your budget tells you that it will be impossible to deal with your debts on your own, research your options and then get professional help.

There are lots of resources on the internet to help you get out of debt and succeed with your financial New Year's Resolutions, but only if you do the work and start now.

J. Douglas Hoyes is a chartered accountant and licensed trustee in bankruptcy, and he works with people in financial trouble. More information on New Year's Resolutions can be found on the Hoyes Michalos blog: http://www.hoyes.com/blog/2009/12/top-five-tips-for-financial-new-years-resolutions.html

Article Source: [http://EzineArticles.com/?Top-Five-Tips-For-Success-With-Your-Financial-New-Years-Resolutions&id=3488714] Top Five Tips For Success With Your Financial New Year's Resolutions

Today on GBPUSD – Daily and H4 charts support Short trades, but…

2009-12-23T02:21:00.000-08:00

On the Daily chart above, we would observe price is currently around a possible bull-zone: In the past days, we’ve been discussing the possibility of the bears’ move being stalled around a critical support area – the support-confluence of a Weekly swing low @ 1.5982 (which we’ve highlighted on the Daily chart using the blue broken line) and the lower edge of the “minor” downward or bearish channel (the faint gray channel).
However, yesterday, price breached the 1.5982 level and closed below the “minor” bearish channel – a sign that the bears are probably resolved to keep their momentum and disregard the support-confluence. To be more convinced of a continued downward price move, we would prefer to see price break below yesterday’s low @ 1.5920 (not highlighted). If eventually price breaks decisively below the support confluence, our focus will then be on the lower edge of the “major” bearish channel (the red channel), which we would expect to be the next major support area. In all, our bias remains bearish and with clearer coast, we would be seeking Hourly Short trade setups – with the support of the H4 chart.

On the H4 chart above, price broke, at that time, the most recent swing low @ 1.6027 (which we’ve highlighted using the upper blue broken line) downward. That automatically sustained our bias in favor of a downward price move. However, as discussed on the Daily chart, we would like to see price break below yesterday’s low – also the most recent swing low @ 1.5920 (which we’ve highlighted using the lower blue broken line) to be more convinced that price is ready to move further downward today.
The white horizontal line @ 1.6099 highlights the most recent swing high, and as long as price stays below it – in the absence of any new and lower swing high – our bearish or downward bias remains intact.

However, we still need our Hourly charts – using Fibonacci retracement levels and important resistance levels – to seek promising areas to take our Short positions. Price pattern on the Hourly must also be forming lower highs and lower lows. Please note that our aim is to sell a rally in today’s down-trend.

Also, PATIENCE is the key here: we need to patiently wait for the Hourly retracement. It might happen, and it might not.

The Curse of Karma and How to Turn Your Bank Account Into a River of Money

2009-12-22T13:48:00.000-08:00

Personal Note: One mystery in life is how we are able to condition our minds – consciously or unconsciously – to create the reality we desire or fear. Just as I believe Mike tries to explain in this insightful article, we attract the things we believe in: somehow, we strive toward or succumb to a certain lifestyle – whether we crave it or not – when we believe that is what we deserve. We can always increase our level of self-worth when we consistently try to do right and create value.
Karma, though much related to Hinduism and Buddhism, is a widely accepted principle of life and as Mike alluded to, it’s also experienced in our personal finances.

By [http://ezinearticles.com/?expert=Mike_Suggs]Mike Suggs

People are basically good. So why do so many of us work ourselves to the bone and still have trouble making ends meet? This article teaches you what money is and why you may never have enough. Once you understand it, you'll never again have to be without it.

Did you know that Karma is much more about what you do to yourself than about what you do to others? Karma is simply receiving into your life a reflection of what you have been projecting. But you project onto yourself long before you project onto life around you!

Why? Because you are basically good and you will condemn yourself to a much worse fate than anyone else could care to bestow upon you.

Whenever you do anything that you know in your heart is wrong or unjust you subconsciously booby trap yourself to prevent goodness from entering your life.

Such is the case with money. Money is nothing more than an idea wrapped inside of an agreement.

The idea is that instead of hauling around our goods to exchange for things we need, we will use money with which to trade. Money is easy to carry around.

The agreement is that money has value and will be a universally acceptable means of exchange for goods and services.

When you receive goods or services in exchange for your promise to pay, you become party to a solemn understanding. If you don't pay when promised or pay less than promised or don't pay at all the system breaks down.

If you don't honor your end of the solemn agreement, you will at that very moment subconsciously set yourself up to making sure you receive less money in the future. Why? Because you are basically good and in your heart you know that you committed an injustice.

You will feel that you don't deserve money. That's the computation you subconsciously make and with it you will, all by yourself, sabotage your ability to receive money into your life. You will unwittingly take measured steps to prevent money from entering your life and that is the Curse of Karma.

Chronically miss payments on credit cards and you will erect another dam in your river of money. Take on debt that in your heart you know you shouldn't and you will punish yourself by attracting less and less money into your life.

People who seem to always have plenty of money have at least this in common: They honor their agreements when it comes to money and they spend within their means. They are able to pay their obligations not because they do have money, but because they don't breach the solemn understanding regarding money and therefore always attract enough of it to pay their obligations.

The next time you wonder why more money isn't coming into your life think about this: Do you have a history of not honoring your agreements regarding money or in generally giving less in value than you receive? If your answer is "Yes", then be assured that on some level you feel you don't deserve money and you will sabotage your ability to attract it.

Here's what you can do: On a daily basis focus your thoughts on asking for enlightenment or guidance to these questions:

1. How can I make myself more valuable?
2. How can I provide more value to others and improve their lives?
3. How can I give more value at work?

When you get your answer(s), dive in and deliver value in abundance beyond what is expected of you. Then, remember what caused it and enact firm policy in your life to make sure it never ends!

Summary: To grow a fat bank account, keep your word regarding money, spend within your means and deliver value in abundance.

by Mike Suggs

© Mike Suggs - All Rights Reserved

The material in this article is from Chapter 10 of my 100 page ebook "Better Believe It!". Help me with my research by
answering one survey question and you can download it for FREE! For the survey and your FREE ebook Click Here Now: http://stepbystepebooks.com

Article Source: [http://EzineArticles.com/?The-Curse-of-Karma-and-How-to-Turn-Your-Bank-Account-Into-a-River-of-Money&id=3400835] The Curse of Karma and How to Turn Your Bank Account Into a River of Money

Today on GBPUSD – Daily and H4 charts support Short trades, but…

2009-12-22T01:20:00.000-08:00

On the Daily chart above, yesterday, as anticipated, price continued its downward move. It broke Friday’s low @ 1.6051 and then moved further downward toward the critical support area – the potential support-confluence of a Weekly swing low @ 1.5982 (which we’ve highlighted on the Daily chart using the lower blue broken line) and the lower edge of the “minor” downward or bearish channel (the red channel). However, the bears’ momentum seems to be waning as price, after breaking the 1.6051 level, traveled down only about 20 pips to 1.6027 before moving back upward to close @ 1.6048 – almost the same level with 1.6051. The fact that the above price action occurred at an area very close to the support-confluence of Weekly swing low and channel’s lower edge suggests the bears are already in a bullish zone.
Although, our bias remains bearish from a day-trade perspective, current price actions described above are telling us to take extra caution while seeking Short trade opportunities. Price-break below the previous day’s low @ 1.6027 (not highlighted) would have been a good sign telling us about the bears’ readiness to continue their move, but, due to price’s current proximity to the support-confluence, we are, most likely, already in the bulls’ zone.
In all, our bearish bias remains but current signs tell us to exercise a great deal of caution as we seek to sell this pair.

On the H4 chart above, price has broken the most recent swing low @ 1.6051 (which we’ve highlighted using the blue broken line) downward. That automatically sustains our bias in favor of a downward price move. However, buttressing the observations on the Daily chart, we would observe price is yet to break decisively below the 1.6051 level. That again tells us the bears are most likely within the bulls’ zone – especially when seen in light of price’s proximity to the critical support-confluence of the Weekly swing low @ 1.5982 and the lower edge bearish channel
The white horizontal line @ 1.6248 highlights the most recent swing high, and as long as price stays below it – in the absence of any new and lower swing high – our bearish or downward bias remains intact.

However, for more aggressive traders, we still need our Hourly charts – using Fibonacci retracement levels and important resistance levels – to seek promising areas to take our Short positions. Price pattern on the Hourly must also be forming lower highs and lower lows. Please note that our aim is to sell a rally in today’s down-trend.

Also, PATIENCE is the key here: we need to patiently wait for the Hourly retracement. It might happen, and it might not.

Today on GBPUSD – Daily and H4 charts support Short trades, but…

2009-12-21T02:05:00.000-08:00

On the Daily chart above, we would observe price has been forming new lower highs and lower lows: a formation that fully supports a bearish bias. Last week Thursday, price broke below, at that time, a critical support level @ 1.6165 (that we’ve highlighted using the upper blue broken line), which created an opportunity for the bears to resume their activities. Please NOTE the broken 1.6165 level has since then turned to a good resistance level – preventing upward price movement.
As a result of the broken former support level, we concluded last week our bearish bias had been sustained and we would expect the next critical support at a potential support-confluence of a Weekly swing low @ 1.5982 (which we’ve highlighted on the Daily chart using the lower blue broken line) and the lower edge of the “minor” downward or bearish channel (the red channel) that we’ve been discussing for a while. Today, our bearish bias remains intact. While seeking opportunities to sell, let’s bear in mind the bears might meet certain hurdles around Friday’s low @ 1.6051 (not highlighted). Although price is currently about 50 pips away from it – giving room for potential selling opportunities – more conservative traders might prefer to wait for price-break below it to be more convinced of the bears’ resolve.

On the H4 chart above, price broke, at that time, the most recent swing low @ 1.6109 (which we’ve highlighted using the upper blue broken line) downward. That automatically sustained our bias in favor of a downward price move. The Friday’s low – also the most recent swing low @ 1.6051 (that we’ve highlighted using the lower blue broken line), which we discussed on the Daily chart as a support level to keep in mind is seen on the H4 chart.
The white horizontal line @ 1.6248 highlights the most recent swing high, and as long as price stays below it – in the absence of any new and lower swing high – our bearish or downward bias remains intact.

However, we still need our Hourly charts – using Fibonacci retracement levels and important resistance levels – to seek promising areas to take our Short positions. Price pattern on the Hourly must also be forming lower highs and lower lows. Please note that our aim is to sell a rally in today’s down-trend.

Also, PATIENCE is the key here: we need to patiently wait for the Hourly retracement. It might happen, and it might not.

Three Steps to Get Your Money Headed in the Right Direction

2009-12-18T03:49:00.000-08:00

Personal Note: I believe Andrea’s analogy between weight loss and personal finance is very apt, and drives home a very important lesson: Sustained success in our finances, as well as other areas of our lives, requires conscious and deliberate search for knowledge, which must culminate in focused actions.

By [http://ezinearticles.com/?expert=Andrea_Travillian]Andrea Travillian

Trying to get your financial life pulled together can be overwhelming and confusing. You may know that you need help but don't know where to start or if it is even possible to get things turned around.

So you decide to ignore it and hope for the best.

If your doctor told you to lose weight or you would be unable to walk in a year, but you knew nothing about weight loss or if it was even possible, would you ignore your doctor and hope for the best?

Losing Weight is more than one issue

Losing weight is many issues that show up in one outcome. Not only is weight affected by your eating habits but also by your exercise level and type, your stress levels, the amount of sleep you get, mental blocks, health issues and many more! To lose weight you must figure out exactly what is causing your problem, and this is typically more than one issue in play!

Money is the same. The status of our money is affected by many things, including debt, insurance, overspending, savings, emotions and many more. To begin to fix your money problems you first need to figure out what is causing them.

Losing Weight is easier when you get help

Trying to go it alone in a subject that you are not familiar with can be overwhelming. If you have never lifted weights before you would have a friend show you the ropes, attend a class or hire a trainer. After all you don't want to hurt yourself the first day out!

Money is the same. While money gets easier and easier to understand as you learn more, it still helps to asking a knowledgeable friend, attending a class or hiring an expert can make things faster and easier. This reduces your times of making mistakes!

Losing Weight happens one day at a time

Most of us don't go to bed thinking I want to lose ten pounds and wake up in the morning and it is gone. Instead we have to adjust our lifestyle to include fewer calories, more exercise and a healthier relationship to ourselves and our bodies.

Yet again, money is no different. You don't go to bed thinking I am going to pay off all my loans and in the morning they are gone (unless of course you have the money and you just write the check). Instead you have to adjust your lifestyle to increase income, decrease debt, increase savings and build a healthier relationship with money.

Getting Your Money Body Turned Around

So how do you apply the ideas we talked about above to start your money transformation?

1. Solving your money problems is probably going to be more than one issue. So start making a list of everything that you can think of that affects your money. Then start reviewing those to determine if they are part of the problem. Then start working on those that needs adjusting.

2. When you are confused and need help, do not be afraid to ask for help. Help will you learn more and make bigger steps in the right direction.

3. Breathe each day and know that as you make positive changes they will eventually have an impact on your financial health. It takes every day making little steps of progress but you will get there.

Just like your doctor ordered you to lose weight or you would not be able to walk, I encourage you to get your money turned around or you won't be able to walk through your ideal life. The confusion and what to do will slip away with the following of these three steps. Why don't you start today and start planning for the best.

Article Source: [http://EzineArticles.com/?Three-Steps-to-Get-Your-Money-Headed-in-the-Right-Direction&id=3303229] Three Steps to Get Your Money Headed in the Right Direction

Today on USDCHF – Daily and H4 charts support Long trades, but…

2009-12-18T01:16:00.000-08:00

On the Daily chart above, as it’s clearly seen, the USDCHF has been in strong uptrend – at least from a medium term perspective; consequently, we’ve been having many daily bullish biases in the past weeks. From a day trade perspective, our bias is still in favor of the bulls, however, price is currently in an area we could regard as a notable resistance area which includes the upper edge of a downward or bearish channel and a Weekly swing high @ 1.0450 (which we’ve highlighted on the Daily chart using the blue broken line). Buttressing the potential strength of this resistance area is price’s current inability to break above yesterday’s high @ 1.0507 (not highlighted); instead, the bears are attempting to breach the previous day’s low @ 1.0381 (also not highlighted).
As earlier said, our daily bias remains bullish, but we have enough contradictory signs to make us exercise patience in seeking an Hourly long trade setup, on this pair, until we have a clearer coast.

On the H4 chart above, price broke, at that time, the most recent swing high @ 1.0424 (which we've highlighted using the blue broken line) upward. That sustained our bias in favor of an upward price move.
However, in line with conflicting signs observed on the Daily chart, we also have what could be described as a strong, waving negative MACD Divergence on the H4 chart (not identified), which fully supports the possibility of an imminent – probably major – bearish retracement.
The green horizontal line @ 1.0342 highlights the most recent swing low, and as long as price stays above it - in the absence of any new and higher swing low - our bullish or upward bias remains intact.

However, for more aggressive traders, we still need our Hourly charts - using Fibonacci retracement levels and important support levels - to seek promising areas to take our Long positions. Price pattern on the Hourly must also be forming higher highs and higher lows.

Also, PATIENCE is the key here: we need to patiently wait for the Hourly retracement. It might happen, and it might not.

Today on GBPUSD – Daily and H4 charts support Short trades.

2009-12-17T02:35:00.000-08:00

On the Daily chart above, early price action today has probably put an end to the indecision among traders about whether to buy or sell the GBPUSD pair. For about a week now, the GBPUSD pair has been in a consolidation phase – a phase where, as mentioned above, traders are yet to make up their minds in which direction to go.
Earlier today, price swooned by almost 200pips to breach a critical support level @ 1.6165 (which we’ve highlighted using the upper blue broken line) – an action that automatically created another lower high, lower low formation. Currently, from a day-trade perspective, our bearish bias has “resumed.” The next critical support is expected around a potential support-confluence of another Weekly swing low @ 1.5982 (which we’ve highlighted on the Daily chart using the lower blue broken line) and the lower edge of the “minor” downward or bearish channel (the red channel) that we discussed last week.

On the H4 chart above, price has broken the most recent swing low @ 1.6230 (which we’ve highlighted using the blue broken line) downward. That automatically sustains our bias in favor of a downward price move.
The white horizontal line @ 1.6410 highlights the most recent swing high, and as long as price stays below it – in the absence of any new and lower swing high – our bearish or downward bias remains intact.

However, we still need our Hourly charts – using Fibonacci retracement levels and important resistance levels – to seek promising areas to take our Short positions. Price pattern on the Hourly must also be forming lower highs and lower lows. Please note that our aim is to sell a rally in today’s down-trend.

Also, PATIENCE is the key here: we need to patiently wait for the Hourly retracement. It might happen, and it might not.

Today on EURUSD – Daily and H4 charts support Short trades, but...

2009-12-16T00:55:00.000-08:00

On the Daily chart above, for about two weeks now, price has been in a relatively “smooth” downward move – probably initiated, or at least aided by the negative MACD Divergence and a few other price actions. The bears are now around another major support level that we mentioned yesterday: a Weekly swing low @ 1.4480 (which we’ve highlighted on the Daily chart using the lower blue broken line). Given the steep price-collapse the EURUSD has been experiencing, it won’t be surprising to see the 1.4480 level acting as a very strong support, which might possibly aid a bullish retracement. That, however, is for now a mere conjecture: the information we have at the moment is still good enough to sustain our bearish bias from a day-trade perspective. In seeking Short trade opportunities, we would like to see price break below previous day’s low @ 1.4503 (not highlighted); but to be on the safe side – especially for more conservative traders – it’s even better to see price close below the critical 1.4480 support level – meaning waiting for today’s candle’s close before taking action.

On the H4 chart above, price broke, at that time, the most recent swing low @ 1.4585 (which we’ve highlighted using the upper blue broken line) downward. That automatically sustained our bias in favor of a downward price move. As discussed on the Daily chart, before seeking Hourly Short trade setups, we would, at least, like to see price break below the previous day’s low – also the most recent swing low @ 1.4503 (which we’ve highlighted using the lower blue broken line).
The white horizontal line @ 1.4684 highlights the most recent swing high, and as long as price stays below it – in the absence of any new and lower swing high – our bearish or downward bias remains intact.

However, we still need our Hourly charts – using Fibonacci retracement levels and important resistance levels – to seek promising areas to take our Short positions. Price pattern on the Hourly must also be forming lower highs and lower lows. Please note that our aim is to sell a rally in today’s down-trend.

Also, PATIENCE is the key here: we need to patiently wait for the Hourly retracement. It might happen, and it might not.

Managing Money

2009-12-15T02:48:00.000-08:00

Personal Note: While the insights Carl shared in this article are probably not different from those we’ve always heard, they are priceless enough to be reemphasized again and again. I really agree with his view on the importance of setting desired goals before making any serious personal finance decisions – as the goals act as guideposts and motivational tools.
However, although I also agree with Carl’s overall take on the “good debt, bad debt” concept, I don’t agree debt on a home or an investment property is always a good debt.

By [http://ezinearticles.com/?expert=Carl_McLean]Carl McLean

What do we all want when it comes to attaining and securing wealth? We want a sense of long-term security and the peace of mind that it brings including lifestyle and advantages to our family.

What do millionaires do that others don't? They do not over consume. They are ready to sacrifice something today in order to achieve greater wealth and prosperity in the future.

Does this paint a good picture of who we are and what we want? This then leads me to say that money must be managed and if you spend more than you make, you surely are heading for trouble, that simple. So where to begin? Many people would say to make a budget and save money. However, in addition to that, I would suggest that prior to making a budget; you should set realistic and attainable goals. Once goals are set, you can then set a budget that will enable you to reach them whatever they are. Make sure that you write your goals down and put them up where you can see them every day.

To begin with, you should monitor your expenses over an entire month. This little exercise will give you the framework for your budget template. Ultimately, you want to reduce your debt load so you must put serious thoughts into curbing bad spending habits, differentiating between good and bad debts and establishing an emergency fund.

For some people, bad habits to consider would be smoking, consuming too much alcohol. For others, it could be that $4 or $8 a day latte fix. Other items to consider could be, collecting CDs and DVDs, what about eating out, buying expensive clothing, going to the movies, buying brand new cars, flying first class, dry cleaning clothes you can wash and more. Remember that I am not saying not to do some of these things but simply keep it reasonable.

Next, would be to differentiate between good and bad debts. A good debt is one that produces cash flow and the bad debt doesn't. Good debts grow in value such as a home, an investment property or a business while bad debts are loans made on depreciating assets such as cars, boats and trips. I do not say that you must not do these things; I am only saying to exercise good balance and not be tempted by excessive consumption.

Finally, set up that emergency fund that will take you through tough times. The problem here however is that some people think that an emergency fund is a line of credit, bank overdraft or a home equity loan. What I suggest doing is have between $1,000 and $2,000 in a saving account and have up to six months worth of you current income in a NON RRSP investment account that can be easily liquidated. That way, your money will grow a bit faster than in a regular bank saving account. An emergency fund is a test of your willpower and discipline. It's hard to build but once built, it is easy to upkeep.

Saving money is easy to say but not so to do. There are constant temptations out there that play with your mind so remember what millionaires do and sacrifice something today for greater wealth tomorrow. It does not take much so set yourself up on a monthly saving plan and stick to it so do not put it off, do it. I would add that a good saving plan is not purchasing your monthly quota of 6/49 tickets. Remember that everything is about balance so enjoy.

Carl McLean CD, BCom AMP specializes in residential mortgage financing and credit management in Victoria BC. He is an Accredited Mortgage Professional with Dominion Lending Centers Rochar Financial, 2950 Douglas St. [mailto:carl@rocharfinancial.com]carl@rocharfinancial.com 250-405-4352 http://www.carlmclean.com

Article Source: http://EzineArticles.com/?expert=Carl_McLean http://EzineArticles.com/?Managing-Money&id=3407560

Today on EURUSD – Daily and H4 charts support Short trades.

2009-12-15T01:19:00.000-08:00

On the Daily chart above, price closed yesterday forming an “inside candle” formation, which signaled a possible indecision in the direction traders wanted to go. However, early price action today has breached the previous day’s and the penultimate day’s lows @ 1.4604 and 1.4585 (both not highlighted), respectively; that action automatically nullified the significance of the “inside candle” formation. Please NOTE today’s early price action also confirms that the important support level discussed yesterday – the most recent Weekly swing low @ 1.4625 (that we’ve highlighted on the Daily chart using the upper blue broken line) has been clearly broken.
Our bias is currently bearish. The next critical support level is another Weekly swing low @ 1.4480 (which we’ve highlighted on the Daily chart using the lower blue broken line). We seem to have enough room to seek Hourly Short trade setups – supported by the H4 chart.

On the H4 chart above, price has broken the most recent swing low @ 1.4585 (which we’ve highlighted using the blue broken line) downward. That automatically sustains our bias in favor of a downward price move.
The white horizontal line @ 1.4684 highlights the most recent swing high, and as long as price stays below it – in the absence of any new and lower swing high – our bearish or downward bias remains intact.

However, we still need our Hourly charts – using Fibonacci retracement levels and important resistance levels – to seek promising areas to take our Short positions. Price pattern on the Hourly must also be forming lower highs and lower lows. Please note that our aim is to sell a rally in today’s down-trend.

Also, PATIENCE is the key here: we need to patiently wait for the Hourly retracement. It might happen, and it might not.

Today on EURUSD – Daily and H4 charts support Short trades, but...

2009-12-14T00:31:00.000-08:00

On the Daily chart above, last week, we observed a negative MACD Divergence, which often signals a possibility of strong downward price move. The –ve divergence is still very much intact. Also supporting the bearish scenario is the decisive break below the most recent Daily swing low @ 1.4827 (which we’ve highlighted using the upper blue broken line). Last week Friday, price breached another strong support level – the most recent Weekly swing low @ 1.4625 (which we’ve highlighted on the Daily chart using the lower blue broken line), and barely closed below it. From a day-trade perspective, to be convinced that the 1.4625 support has been clearly broken, we would like to see the bears push further to break the previous trading day’s low – Friday’s low @ 1.4585 (not highlighted).

On the H4 chart above, price broke, at that time, the most recent swing low @ 1.4685 (which we’ve highlighted using the upper blue broken line) downward. That automatically sustained our bias in favor of a downward price move. However, as discussed on the Daily chart, before seeking Short trade setups on the Hourly chart, we would prefer to see price break below Friday’s low – also the most recent swing low @ 1.4585 (which we’ve highlighted using the lower blue broken line).
The white horizontal line @ 1.4774 highlights the most recent swing high, and as long as price stays below it – in the absence of any new and lower swing high – our bearish or downward bias remains intact.

However, we still need our Hourly charts – using Fibonacci retracement levels and important resistance levels – to seek promising areas to take our Short positions. Price pattern on the Hourly must also be forming lower highs and lower lows. Please note that our aim is to sell a rally in today’s down-trend.

Also, PATIENCE is the key here: we need to patiently wait for the Hourly retracement. It might happen, and it might not.

Today on GBPUSD – Waiting for a breakout

2009-12-11T01:25:00.000-08:00

On the Daily chart above, we would observe the GBPUSD, more or less, consolidated throughout yesterday – resulting in an “inside candle” reversal candle formation: a scenario where the most recent fully formed candle’s, or, in this case, the previous day’s candle’s high and low are within the penultimate candle’s high and low. The “inside candle” formation further confirms the possibility of a bullish retracement that was probably initiated when price hit the lower edge of the “minor” downward or bearish channel (the red channel) a couple of days ago – precisely Wednesday this week. Again, as it has been alluded to since Wednesday, in the case of a deeper bullish retracement, we expect price to rally toward the upper edge of the bearish channel.
Currently, from a day trade perspective, our bias is shifting to favor the bulls; however, to be further convinced, we would like to see a “breakout” i.e we would like to see price break-above the shorter candle of the “inside candle” formation, which also means price-break above the previous day’s high @ 1.6346 (not highlighted).

On the H4 chart above, to buttress the current consolidation phase on the GBPUSD, we would observe price is yet to break above the most recent swing high – also the previous day’s high @ 1.6346 (which we’ve highlighted using the blue broken line). Based on the method discussed on this thread, we always prefer to see price-break above the most recent H4 swing high – in the case of a bullish bias – to be further convinced of the bulls’ readiness to move.
The downward or bearish channel we’ve been discussing on the Daily chart is also seen on the H4 chart, and that allows us to get a better appraisal of current price action within the channel. The green horizontal line @ 1.6213 highlights the most recent swing low, and as long as price stays above it – in the absence of any new and higher swing low – our bullish or upward bias remains intact.

However, we still need our Hourly charts – using Fibonacci retracement levels and important support levels – to seek promising areas to take our Long positions. Price pattern on the Hourly must also be forming higher highs and higher lows.

Also, PATIENCE is the key here: we need to patiently wait for the Hourly retracement. It might happen, and it might not.

Today on GBPUSD – Daily and H4 charts support Short trades, but...

2009-12-10T01:14:00.000-08:00

On the Daily chart above, continuing from yesterday, we would observe the lower edge of the “minor” channel (the red channel) is still doing a good job of stalling the bears’ move. The previous day’s candle closed as a reversal candle (Doji), which indicates the likelihood of a bullish retracement, possibly toward the upper edge of the channel. Supported by the current lower-high lower-low formation on the Daily chart – as well as other price patterns/actions – our bias, from a day-trade perspective, remains bearish. However, partly because of the channel’s lower edge and the previous day’s Doji formation, to be further convinced of the bears’ readiness to continue their move today, we would prefer to see price break below the previous day’s low @ 1.6165 (which we’ve highlighted using the blue broken line).

On the H4 chart above, price broke, at that time, the most recent swing low @ 1.6254 (which we’ve highlighted using the upper blue broken line) downward. That automatically sustained our bias in favor of a downward price move. However, the 1.6254 level was the same level we mentioned yesterday; and we could observe how price is currently struggling to stay clearly above or below it.
As discussed on the Daily chart, “to be further convinced of the bears’ readiness to continue their move today, we would prefer to see price break below the previous day’s low – also the most recent swing low @ 1.6165 (which we’ve highlighted using the lower blue broken line).
The white horizontal line @ 1.6367 highlights the most recent swing high, and as long as price stays below it – in the absence of any new and lower swing high – our bearish or downward bias remains intact.

However, we still need our Hourly charts – using Fibonacci retracement levels and important resistance levels – to seek promising areas to take our Short positions. Price pattern on the Hourly must also be forming lower highs and lower lows. Please note that our aim is to sell a rally in today’s down-trend.

Also, PATIENCE is the key here: we need to patiently wait for the Hourly retracement. It might happen, and it might not.

Today on GBPUSD – Daily and H4 charts support Short trades, but...

2009-12-09T02:01:00.000-08:00

On the Daily chart above, apart from the major downward or bearish channel, which we identified late last month, price is currently within a “minor” one (i.e a “minor” bearish channel). Early price action today had the bears push toward the lower edge of the “minor” bearish channel (the red channel) where they met strong support. At the moment, possibly as a result of the lower edge of the channel, price has retraced upward. While our bias remains bearish, let’s keep in mind this “minor” channel as it might send price retracing further upward – perhaps toward its upper edge. To be on the safe side, it would seem good for us to wait till price closes decisively below the lower edge of the bearish channel – meaning “forgetting” this pair for today.
However, due to strong signals in favor of the bears, as more aggressive traders, we could go ahead to seek Hourly Short trade setups – supported by the H4 chart – while keeping in mind price actions around the lower edge of the channel.

On the H4 chart above, price has broken the most recent swing low @ 1.6254 (which we’ve highlighted using the blue broken line) downward. That automatically sustains our bias in favor of a downward price move. Probably due to the lower edge of the “minor” bearish channel discussed on the Daily chart, we would observe that current price action seems to be forming a reversal candle formation, which might initiate a bullish retracement – although we won’t be able to ascertain any reversal formation until the current H4 candle is fully formed.
The white horizontal line @ 1.6514 highlights the most recent swing high, and as long as price stays below it – in the absence of any new and lower swing high – our bearish or downward bias remains intact.

However, we still need our Hourly charts – using Fibonacci retracement levels and important resistance levels – to seek promising areas to take our Short positions. Price pattern on the Hourly must also be forming lower highs and lower lows. Please note that our aim is to sell a rally in today’s down-trend.

Also, PATIENCE is the key here: we need to patiently wait for the Hourly retracement. It might happen, and it might not.

Today on EURUSD – Daily and H4 charts support Short trades, but...

2009-12-08T02:22:00.001-08:00

On the Daily chart above, late last week, the bulls’ attempt to make a new year-high was rebuffed as price reversed @ 1.5140 – only 3 pips shy of the current year high @ 1.5143 (which we’ve pointed out using the green arrow). Since then, price has been in a “consistent” downward move, threatening the longer term bullish scenario. From a day-trade perspective, our bias is currently bearish. Yesterday, price broke below the most recent Daily swing low @ 1.4827 (that we’ve highlighted using the upper blue broken line), which strengthens our bearish bias; although price reversed upward to close around the 1.4827 level – forming a quasi reversal candle in the process. In other words, yesterday’s price action supports our bearish bias but, at the same time, tells us to be cautious while seeking Short trades.
An important observation, which buttresses the notion of a threatened longer term bullish scenario, is the negative MACD Divergence currently seen on the Daily chart (which we’ve identified using the red bold lines on both upper and lower panes of the chart). A –ve MACD Divergence signals a possibility of an imminent, notable price-collapse.
To be further convinced of the bears’ readiness to continue their downward move today, we would like to see price break below the previous day’s low @ 1.4755 (not highlighted). We expect the next critical support @ 1.4625 (which we’ve highlighted using the lower blue broken line).

On the H4 chart above, price broke, at that time, the most recent swing low @ 1.4821 (which we’ve highlighted using the uppermost blue broken line) downward. That automatically sustained our bias in favor of a downward price move. However, since then, price has been struggling to stay decisively below the level (i.e. the 1.4821 level); as a result, the most recent swing low – also the previous day’s low @ 1.4755 (which we’ve highlighted using the middle blue broken line) has remained “untouched.” As discussed on the Daily chart, we would like to see price break below this 1.4755 level to be further convinced of the bears’ readiness to continue their downward move today. Also seen on the H4 chart is the 1.4625 level (which we’ve highlighted using the lowest blue broken line), which we expect to be the next critical support level.
The white horizontal line @ 1.4904 highlights the most recent swing high, and as long as price stays below it – in the absence of any new and lower swing high – our bearish or downward bias remains intact.

However, we still need our Hourly charts – using Fibonacci retracement levels and important resistance levels – to seek promising areas to take our Short positions. Price pattern on the Hourly must also be forming lower highs and lower lows. Please note that our aim is to sell a rally in today’s down-trend.

Also, PATIENCE is the key here: we need to patiently wait for the Hourly retracement. It might happen, and it might not.

Advantages of Teaching Kids About Money

2009-12-07T03:20:00.000-08:00

Personal Note: Again, in this article, Nicole presents us with wonderful insights regarding the importance of involving our kids, and all young ones within our circle of influence, in personal finance related matters. As I mentioned in previous, similar articles, I believe the insights here aren’t only beneficial to children, but also to us, the “educators.”

By [http://ezinearticles.com/?expert=Nicole_Clemow]Nicole Clemow

There are many ways for kids to make money but have you ever wondered the advantages of teaching your kids how to do this? Beyond just getting paid kids are learning some vital skills that could never be learned in a classroom. Let take a look at some of these.

1. Money Management - When your kids are making money they will have to learn what to do with that money. Do they spend it? Do they save it? Do they give to help someone in need? These are decisions you make every day as parents and your kids can now begin thinking about these types of things too.

2. The Value of Money - It is amazing how people will spend differently when they are spending their own money. When someone else is paying, we spend freely. When we are paying, we tend to spend wisely. When kids have their own money to spend, money they have earned, they realize there is no bottomless pit of money. They also learn that buying this item may mean they have to sacrifice something else. What a great lesson to learn especially as a child!

3. Time Management - When you consider the different ways for kids to make money usually it is in addition to activities they already have on their schedule, whether that's school, church, sports or family time. Kids will soon realize that there are only 24 hours in a day and you can't be everywhere and do everything. Hopefully they will learn how to prioritize what's important even though this is sometimes very difficult to do, even for us parents.

Some parents will help their kids start businesses and for these kids there are skills they learn in addition to the ones above. Here are some of these

1. Marketing Skills - Marketing is a wonderful skill because kids are learning how to create excitement and branding for whatever product or service they are promoting. Companies spend huge sums of money to get the message out about their product or service. Think of all of the millions of dollars spent on advertising every year, whether it's print, TV or internet? Marketing professionals are vital to the success of every company and your child is learning these skills at a very young age.

2. Sales Skills - Selling is an invaluable skill that can help your child in every area of life, both professional and personal. You can use these skills whether it's persuading a customer to use the product or convincing the college interviewer that you are the right choice for that college. Selling happens all of the time. People often say they don't like to sell, but they usually don't realize they do it all of the time. Having your kids do it and recognize they are doing it can give them a world of confidence and an advantage in every situation they face in life.

You see parents finding ways for kids to make money is about more than just making money. It really is about preparation for life. Not just teaching your kids how to support themselves but helping to develop skill sets that are vital to success in every area of life.

Nicole Clemow is one of the founders of Money Toolkits, which is a global on-line school that educates parents on [http://www.squidoo.com/teachingkidaboutmoney]teaching kids about money She's an author, speaker, and trainer in this field and is passionate about helping find [http://www.squidoo.com/waysforkidstomakemoney]ways for kids to make money

Article Source: http://EzineArticles.com/?expert=Nicole_Clemow http://EzineArticles.com/?Advantages-of-Teaching-Kids-About-Money&id=3369572

Today on GBPUSD – The bears keeping hope alive.

2009-12-07T01:14:00.000-08:00

On the Daily chart above, the first couple of days in December – precisely Tuesday and Wednesday last week – we saw the bulls threatening to nullify our bearish bias on the GBPUSD as there was a deep bullish retracement toward the most recent Daily swing high @ 1.6744 (which we’ve highlighted using the upper blue broken line). However, the downward or bearish trend-line (which we’ve highlighted using the red solid line), joining forces with the 1.6744 level, put up a strong resistance against price rally; as a result, since last week Thursday, price has resumed its downward movement. Earlier today, price broke the previous trading day’s low – Friday’s low @ 1.6421 (not highlighted), and that sustains our bearish bias from a day-trade perspective. We expect the next critical support area to be around the most recent Daily swing low @ 1.6269 (which we’ve highlighted using the lower blue broken line).

On the H4 chart above, price has broken the most recent swing low @ 1.6421 (which we’ve highlighted using the upper blue broken line) downward. That automatically sustains our bias in favor of a downward price move. As discussed on the Daily chart, we expect the next critical support area to be around the most recent Daily swing low @ 1.6269 (which we’ve highlighted on the H4 chart using the lower blue broken line) – about 80 pips away from current price position. Price’s swoon earlier today has been very sharp – it has already moved downward by over 150 pips, hence a bullish retracement, which might create an Hourly Short trade set-up won’t be a surprise.
The white horizontal line @ 1.6668 highlights the most recent swing high, and as long as price stays below it – in the absence of any new and lower swing high – our bearish or downward bias remains intact.

However, we still need our Hourly charts – using Fibonacci retracement levels and important resistance levels – to seek promising areas to take our Short positions. Price pattern on the Hourly must also be forming lower highs and lower lows. Please note that our aim is to sell a rally in today’s down-trend.

Also, PATIENCE is the key here: we need to patiently wait for the Hourly retracement. It might happen, and it might not.

Today on USDJPY – NFP Rules.

2009-12-04T01:00:00.000-08:00

Pls NOTE: As always, if there’s one particular day in every month that trending method/pattern traders should be wary of trading most, it has to be the first Fridays of every month when the Non-Farm Payroll (NFP) report is usually released.
While I’ll go ahead to give my personal analysis on the USDJPY pair, please, let’s bear in mind that, regardless of any technical analyses, NFP usually rules today.

On the Daily chart above, since late last month, price has been in an upward retracement in an overall visible longer term downtrend. However, currently, the bulls seem to have reached a critical resistance-confluence where the bears might attempt to take control: price is now around a downward or bearish trend-line (that we’ve highlighted using the red solid line), which we expect might restrain any further bullish move, at least temporarily. In addition, current price position is also around a major resistance level – the most recent Weekly swing low @ 87.99 (which we’ve highlighted on the Daily chart using the upper blue broken line). In the case of the 87.99 resistance level, since it has been breached yesterday, depending on where price closes at the end of today, it would end up retaining its resistance level “status” or becoming a new support level: price break above previous day’s high @ 88.47 (not highlighted) should validate it as a new support level.

On the H4 chart above, price broke, at that time, the most recent swing high @ 87.37 (which we’ve highlighted using the lower blue broken line) upward. That automatically sustained our bias in favor of an upward price move. However, as discussed on the Daily chart, the bulls are, at the moment, probably in the bears’ zone, hence to be convinced of the bulls’ strength, we would like to see price break above the previous day’s high – also the most recent swing high @ 88.47 (which we’ve highlighted using the upper blue broken line).
The green horizontal line @ 86.50 highlights the most recent swing low, and as long as price stays above it – in the absence of any new and higher swing low – our bullish or upward bias remains intact; but, again, today is “NFP Day”, please let’s keep that in mind.

Today on USDCHF – Daily and H4 charts support Short trades.

2009-12-03T00:43:00.000-08:00

On the Daily chart above, continuing from yesterday, price is currently still within the narrow downward or bearish channel, and, supported by the most recent price action: price break below previous days’ lows, which apparently include yesterday’s low @ 0.9977 (not highlighted), we are still anticipating further bearish movement toward the lower edge of the narrow bearish channel. Again, as discussed yesterday, while gunning for the lower edge of the channel, we would expect price to meet some hurdles around the most recent Daily swing low – the current year-low @ 0.9915 (which we’ve highlighted using the blue broken line). From a day-trade perspective, our bias remains bearish while keeping the critical 0.9915 support level in mind.

On the H4 chart above, price has broken the most recent swing low @ 0.9977 (which we’ve highlighted using the upper blue broken line) downward. That automatically sustains our bias in favor of a downward price move. The critical support level – the current year-low @ 0.9915 (that we’ve highlighted using the lower blue broken line), which we discussed on the Daily chart, is seen on the H4 chart. We have about a 60-pip gap between current price position and the year-low @ 0.9915: a moderate distance allowing us to seek Hourly Short trades from a day-trade perspective
The white horizontal line @ 1.0026 highlights the most recent swing high, and as long as price stays below it – in the absence of any new and lower swing high – our bearish or downward bias remains intact.

However, we still need our Hourly charts – using Fibonacci retracement levels and important resistance levels – to seek promising areas to take our Short positions. Price pattern on the Hourly must also be forming lower highs and lower lows. Please note that our aim is to sell a rally in today’s down-trend.

Also, PATIENCE is the key here: we need to patiently wait for the Hourly retracement. It might happen, and it might not.

Investment - Don't Rely on Someone Else to Tell You Whether an Investment is Right For You, Or Not

2009-12-02T05:15:00.000-08:00

Personal Note: In this article, Suzie discusses the need for us to be well-informed about issues relating to our personal finances and take responsibility for our financial actions. It's a very appropriate article in this information age where we are bombarded, virtually every second, with various investment offers ranging from first-rate to fraudulent – with many “gray” ones in-between.

By [http://ezinearticles.com/?expert=Suzie_C_Crawford]Suzie C Crawford

No matter what type of strategy you use to generate wealth, you need a system where you are fully informed. You need the ability to make your own decisions. It is risky to rely on somebody else to tell you that a particular product is a good investment. You need to be able to analyse that investment and determine for yourself whether the product is a good investment.

Get educated. Be an informed investor. Have the ability to do the numbers and make your own decision as to whether an investment or business is going to give you the returns you are seeking. Get educated so you know how to do this. We go to university and study for a minimum of three years for many careers and then think we need no education and commit hundreds of thousands of dollars to an investment. If it is one of your goals to achieve financial freedom, I would highly recommend setting up personal financial statements to monitor your personal financial results.

Most businesses have a Balance Sheet and a Profit and Loss Statement. The Balance Sheet illustrates the financial state of the business at balance day. In other words, if all the assets of the business were sold, and then all the debts were paid off, what would be left? This is the owner's equity, or the actual value of the business the owner owns once the debt has been paid off. It shows how financially stable a business is, or it's ability to generate wealth or value.

The second common report a business creates is a Profit and Loss Statement. The purpose of a Profit and Loss Statement is to determine whether, as a result of their trading operations, the business has made a profit or a loss. It also provides a summary of the various expense and revenue items for a period and is therefore a useful tool for decision making.

What I find interesting is that most businesses have a Balance Sheet and Profit and Loss Statement. Businesses know the importance of knowing both the current financial state and financial performance of a business.

If financial statements are important to a business, they are also important for you personally. After all, you are a business. You have a primary aim; you have goals or targets. You need to know the current financial state and performance of yourself in relation to achieving your Primary Aim. We need to start applying these same disciplines to yourself.

My husband and I have a Personal Balance Sheet and a Personal Cash Flow (or Income) Statement. We update our Balance Sheet whenever there is a significant change in our personal assets or liabilities for example the purchase of an additional investment property, re-financing of investment loans. We update our Personal Cash Flow Statement whenever there is a significant change in our personal income or expenses, for example interest rate changes, rental increases, fixed wage changes. I use our Personal Cash Flow Statement to set our business revenue targets. To me there is a very strong relationship between the achievement of my Primary Aim and our personal financial statements.

There is also a very strong relationship between your Balance Sheet and your Cash Flow Statement. If you want to become financial independent, you need to buy assets that will increase your cash flow; for example property is an asset because it improves your cash flow in the way of rent. However, a boat would not appear on your Balance Sheet as it does not improve your cash flow. In fact, it would probably drain your cash flow in the way of fuel, mooring expenses, etc

I need to work backwards. What date do I want to be financial independent by? What financial state (Personal Balance Sheet) do I require to be financially independent? What do we require our financial performance (Personal Cashflow Statement) to be to be financially independent? What passive cashflow do I need to generate through my business to achieve that financial performance? How many investment properties do we need to purchase to achieve that financial state and generate that income? What personal cashflow do I require to live the lifestyle of my Primary Aim?

Because we have these personal financial statements set up, we do not need to rely on anyone else to tell us whether an investment is a good investment. We can drop the figures into our spreadsheet to see what impact it will have on our cash flow. If the investment does have a negative impact on our cash-flow (for example a negative geared property), as long as we have done our research properly and believe we have purchased a well located property that will go up in capital value over time, we may be happy to accept a short-term negative cash-flow. The point is, we are using our own financial tools to assess an investment rather than relying on somebody else to tell us it is a good investment. We can take their figures and drop them into our own spreadsheets, which makes us fully informed, rather than relying on someone else's opinion.

My Primary Aim requires financial independence so I must have personal financial statements to monitor my progress and help me set regular targets.

Suzie Crawford specializes in teaching people how to say goodbye to their day job and be free to do what they love. To register for your free You and Money Audio Program including bonus Personal Financial Tools visit [http://www.youcan.com.au]http://www.youcan.com.au.

Article Source: http://EzineArticles.com/?expert=Suzie_C_Crawford http://EzineArticles.com/?Investment---Dont-Rely-on-Someone-Else-to-Tell-You-Whether-an-Investment-is-Right-For-You,-Or-Not&id=3271256

Today on USDCHF – Daily and H4 charts support Short trades, but…

2009-12-02T01:24:00.000-08:00

On the Daily chart above, the overall downward trend of this pair is pretty much obvious. Currently, price is within a narrow downward or bearish channel. It hit the upper edge of the bearish channel late last month (or late last week), and since then, it has reversed downward. We anticipate further bearish movement toward the lower edge of the narrow bearish channel; although we would expect price to meet some hurdles around the most recent Daily swing low – the current year-low @ 0.9915 (which we’ve highlighted using the blue broken line). From a day-trade perspective, our bias is bearish, however, we would like to see price break below the previous day’s low @ 0.9969 (not highlighted) before seeking our Hourly short trade setups – supported by the H4 chart.

On the H4 chart above, price broke the, at that time, most recent swing low @ 0.9992 (which we’ve highlighted using the uppermost blue broken line) downward. That automatically shifted our bias in favor of a downward price move. As discussed on the Daily chart, before seeking Hourly Short trade setups, we would like to see price break below the previous day’s low – also the most recent swing low @ 0.9969 (which we’ve highlighted using the middle blue broken line). The critical support level – the current year-low @ 0.9915 (that we’ve highlighted using the lowest blue broken line), which we also discussed on the Daily chart, is seen on the H4 chart. We have about a 50-pip gap between the previous day’s low and the year-low @ 0.9969 and 0.9915, respectively. From a day-trade perspective, the 50-pip gap is fairly a moderate distance, allowing us to seek Hourly Short trades.
The white horizontal line @ 1.0073 highlights the most recent swing high, and as long as price stays below it – in the absence of any new and lower swing high – our bearish or downward bias remains intact.

However, we still need our Hourly charts – using Fibonacci retracement levels and important resistance levels – to seek promising areas to take our Short positions. Price pattern on the Hourly must also be forming lower highs and lower lows. Please note that our aim is to sell a rally in today’s down-trend.

Also, PATIENCE is the key here: we need to patiently wait for the Hourly retracement. It might happen, and it might not.

Today on GBPUSD – The pair currently in a dicey situation.

2009-12-01T02:36:00.000-08:00

On the Daily chart above, we would observe price is currently, more or less, in a dicey situation: while our bias still remains bearish – partly due to the Daily lower high lower low formation that’s still intact as well as price’s bearish close yesterday – current price action is moving farther away from the previous day’s low @ 1.6379 (not highlighted) and, instead, advancing toward the previous day’s high – a not so good sign for the bears. We usually like to see price break below previous days’ lows to strengthen our bearish biases. Today is turning out to be another “waiting day” on the GBPUSD pair.

On the H4 chart above, we have a closer observation of current bullish price action. Again, though, our bias is still bearish, price has rallied a relatively great distance away from the most recent swing low – also the previous day’s low @ 1.6379 (which we’ve highlighted using the blue broken line). In short, our bearish bias is waning; however, the white horizontal line @ 1.6591 highlights the most recent swing high, and as long as price stays below it – in the absence of any new and lower swing high – our bearish or downward bias remains intact.

Today on GBPUSD – Daily and H4 charts support Short trades, but…

2009-11-30T00:40:00.000-08:00

On the Daily chart above, we concluded last week that price seems to be in a major downward or bearish channel, and the current pattern of lower high and lower low on the Daily chart is buttressing that view. We also identified a Daily swing low @ 1.6261 (which we’ve highlighted using the blue broken line) as a critical support level that the bears must contend with; and in accordance with our expectation, the 1.6261 level proved itself – probably even more than we anticipated. Although, last week trading ended with a big rally, and price sort of resumed the upward move earlier today, all factors supporting our bearish bias are still pretty much in place; hence, we would want to consider the current bullish move as a deep bullish retracement. From a day-trade perspective, our bias still tend toward a downward move, however, we might have to exercise patience as the Hourly Short trade setups – supported by the H4 chart – might take some time to unfold. Consequently, from the standpoint of the current method discussed on this blog, we’re probably done with this pair for this month.

On the H4 chart above, last week, price broke, at that time, the most recent swing low @ 1.6496 (which we’ve highlighted using the blue broken line) downward. That automatically shifted our bias in favor of a downward price move. However, as discussed on the Daily chart, we would observe price is currently rallying, but supported by the overall price movement, we are still sticking with our bearish bias. In other words, we’re considering current price action as only a deep bullish retracement. Again, we might have to exercise patience as the Hourly trade setups might take some time to unfold.
The white horizontal line @ 1.6744 highlights the most recent swing high, and as long as price stays below it – in the absence of any new and lower swing high – our bearish or downward bias remains intact.

However, we still need our Hourly charts – using Fibonacci retracement levels and important resistance levels – to seek promising areas to take our Short positions. Price pattern on the Hourly must also be forming lower highs and lower lows.

Today on GBPUSD – Is this currency pair within a major bearish channel?

2009-11-27T01:18:00.000-08:00

On the Weekly chart above, we have a clearer picture of the overall market activity. Although, from the Weekly chart’s perspective, it’s currently a bit premature to conclude, we would notice that a possible downward or bearish channel is unfolding. This is indirectly (or directly, as the case may be) telling us that, while the Head and Shoulders formation previously observed on the Daily chart has been virtually nullified, the bears might still manage to pull something out of the bag.

On the Daily chart above, the downward or bearish channel is seen to be more valid as, unlike the weekly chart, the swing points for drawing the channel are already fully formed. Also to be observed is the current price pattern of lower high and lower low – a very strong indication that the bears are currently in charge. From a day-trade perspective, our bias is bearish; however, price is currently around a Daily swing low @ 1.6261 (which we’ve highlighted using the blue broken line), hence the bears might experience some difficulties. Looking toward the left side of the Daily chart, we would notice the 1.6261 level is a critical level as price had reacted to it a number of times in the past.
In all, our conclusion is to seek Short trade setups on the Hourly chart – supported by the H4 chart, while bearing in mind this critical 1.6261 level.

On the H4 chart above, price has broken the most recent swing low @ 1.6496 (which we’ve highlighted using the blue broken line) downward. That automatically shifts our bias in favor of a downward price move. The white horizontal line @ 1.6744 highlights the most recent swing high, and as long as price stays below it – in the absence of any new and lower swing high – our bearish or downward bias remains intact.

However, we still need our Hourly charts – using Fibonacci retracement levels and important resistance levels – to seek promising areas to take our Short positions. Price pattern on the Hourly must also be forming lower highs and lower lows. Please note that our aim is to sell a rally in today’s down-trend.

Also, PATIENCE is the key here: we need to patiently wait for the Hourly retracement. It might happen, and it might not.

Today on EURUSD – Daily and H4 charts support Long trades, but...

2009-11-26T01:23:00.000-08:00

On the Daily chart above, yesterday, we witnessed price making a new year-high @ 1.5143 (not highlighted). Price broke two previous critical resistance levels: the most recent Daily swing high @ 1.5047 (also not highlighted) and the previous year-high @ 1.5061 (which we've highlighted using the blue broken line). Those price actions were strong enough to sustain our day-trade bullish bias and shift our longer term bias to supporting an uptrend scenario. Currently, price is probably having a bearish retracement. It is, at the moment, around the previous year-high level @ 1.5061, which we expect to now act as a good support level. If the current retracement is shallow, the 1.5061 level might help the bulls resume their movement. The main thing we’re interested in is when we would be prompted to continue seeking Long trade setups on our Hourly charts – supported by H4 charts; hence, we would like to see price break above the year-high – also the previous day’s high @ the 1.5143 level.

Please NOTE: Let’s keep in mind that today is Thanksgiving holiday in the US, so we might experience thin trading volume, especially during the New York session.

On the H4 chart above, the previously broken swing high @ 1.4987 (which we've highlighted using the lowest blue broken line) still remains the most recent swing high price broke above. That sustains our bias in favor of an upward price move. The previous year-high @ 1.5061 (that we've highlighted using the middle blue broken line), which we discussed on the Daily chart as a level we expect to now act as a good support level – if the current retracement is shallow – is seen on the H4 chart.
The new year-high – also the previous day’s high @ 1.5143 (which we've highlighted using the uppermost blue broken line) is seen as the most recent swing high on the H4 chart. Again, as earlier discussed, we would like to see price break above this level before seeking Long trade setups.

However, we still need our Hourly charts - using Fibonacci retracement levels and important support levels - to seek promising areas to take our Long positions. Price pattern on the Hourly must also be forming higher highs and higher lows. Please note that our aim is to buy a dip in today's up-trend.

Also, PATIENCE is the key here: we need to patiently wait for the Hourly retracement. It might happen, and it might not.

Today on EURUSD – Daily and H4 charts support Long trades.

2009-11-25T04:28:00.000-08:00

On the Daily chart above, earlier price action today resulted in a decisive break above the downward or bearish channel, which we discussed yesterday. Not only that, the bulls also shattered two critical resistance levels: the most recent Daily swing high @ 1.5047, a level which had been acting as the “second top” of a previously anticipated – i.e. now nullified – Double Top formation (pointed out by the right green arrow), and the year-high @ 1.5061 (which we've highlighted using the blue broken line). Both are just a few pips apart from each other.
Hence, from a day-trade perspective (and even a longer term perspective), our bias is now bullish. There seems to be no major resistance level the bulls have to contend with for now, so we expect a relatively “smooth” uptrend for the time being.

On the H4 chart above, price has broken the most recent swing high @ 1.4987 (which we've highlighted using the lowest blue broken line) upward. That sustains our bias in favor of an upward price move. Also, as we discussed on the Daily chart, the crucial resistance levels: the most recent Daily swing high @ 1.5047 and the year-high @ 1.5061 (which we've highlighted using the middle and uppermost blue broken lines, respectively) have also been broken; and that greatly strengthens our bullish bias. However, let’s keep in mind that price has moved a considerable distance today, so movement might stall for a while. The green horizontal line @ 1.4887 highlights the most recent swing low, and as long as price stays above it - in the absence of any new and higher swing low - our bullish or upward bias remains intact.

However, when seeking our Long trades, we’ll still need our Hourly charts - using Fibonacci retracement levels and important support levels - to seek promising areas to take our Long positions. Price pattern on the Hourly must also be forming higher highs and higher lows. Please note that our aim is to buy a dip in an up-trend.

What is the Definition of Financial Freedom?

2009-11-24T06:30:00.000-08:00

Personal Note: This is a very insightful article by Duane. I believe it addresses the truth that the moment we realize our happiness or sense of fulfillment is only defined by our inmost desires – which are unique from one individual to another – the same moment we begin the quest toward becoming independent thinkers. In short, only we ourselves can sincerely determine whether we are achieving (or have achieved) our personal finance goals, or not – A role that offers us limitless privileges as well as limitless challenges.

By [http://ezinearticles.com/?expert=Duane_Hatfield]Duane Hatfield

For many people the definition of financial freedom is the position in life where they think all their money problems are over. Is that truly when financial freedom is achieved? As we have all seen with those who win the lottery or receive a large inheritance, they usually return to the monetary place they were before their windfall.

So as we have noted from the actions of others it's not the amount of money that gives freedom but something more. Something that causes whatever amount we have achieved, when we achieve it, to satisfy the little voice in our heads that tells us our needs are or will be met. The point where we don't feel threatened with the loss of our situation or position in life.

From the thoughts above we now have an understanding that all freedom, not only financial, is based on an inner peace that passes understanding. We don't know why we feel that peace or comfort, we only know it exists. Striving to accomplish that peace is the driving force in people's lives. It causes all of us to stretch our boundaries and reach for the unreachable dream. The secret goals we only admit to ourselves because others may consider them above our ability.

Another reason we have satisfaction is our mindset. When we have done our very best and the benefits of that labor is manifest, at least in our own beings, we have the contentment of a job well done. And no matter what anyone else's opinion may be we still have the satisfaction it was our best. We all suffer from the desire to please and be accepted by others and usually our dreams are what suffer. Our personal drive is stifled and the force of purpose within us is buried under our submission to someone else.

There is no shame in working hard and having dreams, only know the reaching of your point of freedom will be accomplished within yourself and not on the outward rewards.

Written By Duane Hatfield

Visit me on Facebook http://www.DUANEHATFIELD.INFO

Article Source: http://EzineArticles.com/?expert=Duane_Hatfield http://EzineArticles.com/?What-is-the-Definition-of-Financial-Freedom?&id=3261231

Today on EURUSD – Who has the “much needed” sixth sense?…

2009-11-24T00:58:00.000-08:00

On the Daily chart above, we would observe that since two weeks ago – precisely Wednesday 11 – when price peaked @ 1.5047 to form the “second top” of a possible Double Top formation (pointed out by the right green arrow), price has been in a consolidation pattern – within a narrow downward or bearish channel formation. At the time the consolidation started, similar to most of life situations, we didn’t have enough information to know it had started, as that would have aided our decisions. It’s during periods like this that individuals crave the sixth sense to see into the future. However, in the absence of sixth sense, we’ll always make do with what is readily at our disposal: the real-time information.
Current price action is telling us that the market is in a consolidation mode, hence, from a day-trade perspective, it’s probably advisable to keep off any trending method till we have a clearer coast. We would be waiting for price to break decisively above or below the bearish channel to make further decisions. We don’t know when that would happen, it may or may not happen today; we just have to wait.

On the H4 chart above, price has broken the most recent swing high @ 1.4934 (which we've highlighted using the blue broken line) upward. That sustains our bias in favor of an upward price move. However, as we’ve discussed at length on the Daily chart, current bigger picture isn’t supporting any strong bullish movement for now, hence, regardless of the H4 swing break, it’s preferable to keep off any day-trade trending methods for now.
Although, the coast is not clear at the moment, let’s keep in mind that the green horizontal line @ 1.4800 highlights the most recent swing low, and as long as price stays above it - in the absence of any new and higher swing low - our bullish or upward bias remains intact.

Today on GBPUSD – Daily and H4 charts support Short trades, but…

2009-11-23T00:41:00.000-08:00

On the Daily chart above, last week, we correctly anticipated further bearish movement on the GBPUSD pair. Also in accordance with our analysis, price found support around the most recent Daily swing low @ 1.6514 (which we’ve highlighted using the middle blue broken line). While our bias still remains bearish primarily due to the fact that price breached the 1.6514 level, the last trading day’s candle – last week Friday’s candle – did not decisively close below it, hence we still need further confirmation that the bears still have momentum. We would like to see price break below previous trading day’s low – Friday’s low – @ 1.6459 (not highlighted). From a day-trade perspective, we would interpret current price action as a bullish retracement; hence we might have to exercise patience in seeking day-trade selling opportunities. If price eventually breaks below Friday’s low @ 1.6459, we expect the next Daily swing low @ 1.6261 (which we’ve highlighted using the lowest blue broken line) to act as the new crucial support level.

On the H4 chart above, price broke, at that time, the most recent swing low @ 1.6605 (which we’ve highlighted using the upper blue broken line) downward. That automatically sustained our bias in favor of a downward price move. As discussed on the Daily chart, Friday’s low @ 1.6459 (that we’ve highlighted using the lower blue broken line), which is seen on the H4 chart as the most recent swing low, is a level we would like to see price break below to confirm further bearish movement. Again, from a day-trade perspective, price seems to be in a bullish retracement, and as a result, it’s currently a considerable distance away from the 1.6459 level we would like to see it break below. We might have to exercise patience in seeking day-trade selling opportunities.
The white horizontal line @ 1.6674 highlights the most recent swing high, and as long as price stays below it – in the absence of any new and lower swing high – our bearish or downward bias remains intact.

However, once the coast is clear, we’ll still need our Hourly charts – using Fibonacci retracement levels and important resistance levels – to seek promising areas to take our Short positions. Price pattern on the Hourly must also be forming lower highs and lower lows. Please note that our aim is to sell a rally in today’s down-trend.

Also, PATIENCE is the key here: we need to patiently wait for the Hourly retracement. It might happen, and it might not.

Financial Literacy Equals Financial Leverage

2009-11-22T04:36:00.000-08:00

Personal Note: In recent years, I’ve come to the realization that the more one focuses on how to generate steady cash flow – independent of one’s physical effort – the more the attainment of TRUE financial freedom becomes plausible. Not only does it “miraculously” make available more hours, every day, to THINK productively regarding our personal finances, but it also helps us to curb our often “insatiable” thirst for aggressive or even sometimes unrealistic expectations regarding Return On Investment (ROI), which usually results in “financial-despair” or resignation to so-called “fate.”
In this article, Ted Ciuba tells us more about the leverage of non-physical-effort-dependent cash flow.
Please NOTE I’m yet to know much about Ted’s resources.

By [http://ezinearticles.com/?expert=Ted_Cuba]Ted Cuba

You really can't blame people for getting it all screwed up. They have been taught that way, and we are social animals and we learn from our environment - I mean, this is nature. However, it's just numerically the case that they were born in that relationship, in that family, in that city, in that society. The truth is absolutely different.

What am I referring to? I am referring to how you're taught and trained to get a job; taught, trained and educated to get a job.

And you're taught, trained and educated that you can get a better job if you want to make more money and have more of the comforts of life, when in fact there isn't a job that will ever do it for you. A job, which some people say is an acronym for "just over broke," is, as a matter of fact, what most people are.

What are we talking about? This: it means being in business for yourself. But not just any business. Many business "owners" simply traded their job for a "pay yourself last" chain around their neck.. That could be worse than a job. You've got to get away from trading hours for dollars.

"Oh, this is a good job. It pays $20 an hour." (Adjust this figure for your own location and time.)

You think so? Hey, on an eight-hour day that's $160. Now, you can convert that to your own currency, but then by the time you pay 40-50% to the tax person, that ain't a good job!

And what are you going to do? Are you going to put in a little bit of overtime? How much can you do, and how much do you want to do? You've got to think leverage. You've got to think multiplication.

What can you do, for instance, like a rock star or an information marketer, just once and have it sell over and over again? What can you create, in the Internet Age of course, that's digital and when you sell it anywhere in the world, you've still got it and you can sell it again?

Think multiplication, think leverage, think like a business owner. Think, what can you leverage?

You can be sure that Henry Ford, had he stayed an employee instead of employing thousands and thousands... You can be sure that Andrew Carnegie, had he stayed an employee instead of employing thousands and thousands... Neither would never have found the leverage and gone on to the great wealth and benefit they brought to the world.

It is no discredit to be an employee if you're getting educated, getting motivated, determining the insight, creating a strategy to get out of it. Think leverage. Think multiplication. Think, what can you do once - design a system, patent something, copyright something - then have it sell forever or a long time? What can you get other people's money to do for you?

Think, think, think like a businessperson. Financial literacy comes into the life of every person who achieves success. No, you don't have to keep the books. No, you don't have to do all the micro-managing... But you've got to be involved. The business depends on the direction and the energy that you give it. That being the case, jump in!

Ted Ciuba, "living legend" and bestselling author of [http://thenewthinkandgrowrichbook.com/]TheNEWThinkandGrowRich, Ted Ciuba is one of the world's top human potential trainers. He helps people find, define, and actualize their passions to transmute their intangible desires into real money. To find out more about Ciuba, how he can help you, and to collect $297 worth of free gifts visit [http://www.HoloMagic.com]http://www.HoloMagic.com.

Publishers and website owners - You may freely use and publish this article as long as you publish it in its entirety, including the resource box.

Article Source: http://EzineArticles.com/?expert=Ted_Cuba http://EzineArticles.com/?Financial-Literacy-Equals-Financial-Leverage&id=3286311

Today on GBPUSD – Daily and H4 charts support Short trades, but…

2009-11-20T00:13:00.000-08:00

On the Daily chart above, we concluded yesterday that “though… we’re now within a medium term bullish trend, current price actions show we probably have the opportunity to seek Short trades – from a day-trade perspective.” Today, our day-trade bias still remains bearish. Yesterday’s candle closed decisively below the lower edge of the upward or bullish channel – a good sign the bears still have momentum. However, before seeking our Hourly Short trade setups – supported by the H4 chart – we would like to see price break below yesterday’s low @ 1.6605 (not highlighted) to be further convinced of the bears’ strength.
As we also concluded earlier, we expect the most recent Daily swing low @ 1.6514 (which we’ve highlighted using the lowest blue broken line) to act as the next crucial support level.

On the H4 chart above, price broke, at that time, the most recent swing low @ 1.6754 (which we’ve highlighted using the uppermost blue broken line) downward. That automatically shifted our bias in favor of a downward price move. We could observe price’s proximity to previous day’s low – also the most recent swing low @ 1.6605 (that we’ve highlighted using the middle blue broken line), which we discussed on the Daily chart as a support level we would like price to break below before seeking Hourly Short trades. We could also observe the crucial support level @ 1.6514 (that we’ve highlighted using the lowest blue broken line), which we also discussed on the Daily chart. We have about 90-pip gap between the 1.6605 and 1.6514 levels; hence, we seem to have enough room to short this pair – in case price eventually breaks below the 1.6605 level.
The white horizontal line @ 1.6845 highlights the most recent swing high, and as long as price stays below it – in the absence of any new and lower swing high – our bearish or downward bias remains intact.

However, we still need our Hourly charts – using Fibonacci retracement levels and important resistance levels – to seek promising areas to take our Short positions. Price pattern on the Hourly must also be forming lower highs and lower lows. Please note that our aim is to sell a rally in today’s down-trend.

Also, PATIENCE is the key here: we need to patiently wait for the Hourly retracement. It might happen, and it might not.

Long Trade set-up on USDCHF Hourly chart.

2009-11-19T03:00:00.000-08:00

With support of the Daily and H4 charts, we currently have a possible Long trade setup on the USDCHF pair.

Pls NOTE: On the H4 chart above, while setting our profit targets and managing our Long trades, let’s keep in mind the most recent swing high @ 1.0208 (highlighted with the blue broken line). It might prove to be a crucial resistance.

The Hourly chart above is currently forming a tradable pattern. Price seems to have topped temporarily @ 1.0194. Hence, we expect price to retrace to the area between 1.0158 and 1.0122 (which is the area between the 50% and 100% fib. retracement levels – drawn from the most recent Hourly swing low to the current price-top). Let’s seek to buy around this area. If price breaks the 1.0122 level downward, our bullish bias is no more valid and we enter a no-trading zone. Our primary profit target is @ 1.0214 (the 127% fib. ext.).

Also, if price breaks above 1.0194 (current price-top) before retracing to the buy-area, we’ll have to redraw our Fibonacci tools using a new top & the most recent Hourly swing low to determine new potential areas to buy.

The 15min. chart above gives us a clearer view of the Hourly price action and the potential areas to buy (please note it’s advisable to set a Limit order ahead of time as price could move down to these level and reverse sharply in our favor)
This chart is rather cluttered but if we look closely, there are a couple of potential reversal levels available. You choose your preferred level based on your personality.

fib 61.8% ret. @ 1.0150;
fib 78.6% ret. @ 1.0138.

Personally, based on the broken most-recent Hourly swing high @ 1.0140, which I believe is a potentially strong reversal level, I would be going for the 78.6% ret.

Initial Stop Loss @ 1.0120; primary Profit target @ 1.0212 (Please remember to factor in your broker’s pip-spread).

Please note that all these Fibonacci (fib.) levels have other pivots, overlapping fibs or previous highs/lows supporting them (they are the cause of this cluttered chart). As such, price could reverse at any of the points. The issue here is that the deeper the fib level you choose to buy from, the smaller the pips you’ll risk and the more your pip-profit; BUT, also the more the likelihood of you missing the trade as price might not retrace that deep before moving back upward.
You need your own discretion here.

Please keep your risk low. Don’t risk more than 2% of your capital. Personally, I risk about 0.5% per trade; and each trade has a potential profit target of 1% or more – based on my entry & exit levels.
We MUST NEVER assume we KNOW where price is going next!

P.S.:
Similar Short trade set-up is forming on the EURUSD pair.
Also, always keep in mind any major news releases. Be wary of possible price volatility during these periods.

Today on GBPUSD – Daily and H4 charts support Short trades, but…

2009-11-19T00:07:00.000-08:00

On the Daily chart above, though it’s pretty much obvious that we’re now within a medium term bullish trend, current price actions show we probably have the opportunity to seek Short trades – from a day-trade perspective. Earlier this week, price moved upward to breach, at that time, the most recent swing high @ 1.6842 (which we’ve highlighted using the middle blue broken line) but was unable to stay above it; consequently, it started retracing downward since then. The previous day’s low @ 1.6714 (not highlighted) has been broken downward and that strengthens our day-trade bearish bias. However, price is currently at the lower edge of an upward or bullish channel, and that tells us to be very cautious of Short trades. In case the bears decide to disregard the channel’s lower edge, we expect the most recent Daily swing low @ 1.6514 (which we’ve highlighted using the lowest blue broken line) to act as the next crucial support level. In all, from a day-trade perspective, our bias is bearish; but let’s keep in mind that we are still within a medium term bullish trend.

On the H4 chart above, price has broken the most recent swing low @ 1.6754 (which we’ve highlighted using the upper blue broken line) downward. That automatically shifts our bias in favor of a downward price move. The bullish channel discussed on the Daily chart is shown on the H4 chart and it gives us a clearer observation of price action around it. We would observe it’s currently stalling further bearish move. The next crucial support level @ 1.6514 (that we’ve highlighted using the lower blue broken line), which we also discussed on the Daily chart, is also seen on the H4 chart – over 150 pips from current price position.
Depending on individuals’ risk-tolerance level, we might handle the current situation in a couple of ways: either we immediately start seeking Short trade setups, or we wait for an H4 candle to close decisively below the bullish channel. Whatever we decide, again, let’s keep in mind that we are still within a medium term bullish trend.
The white horizontal line @ 1.6845 highlights the most recent swing high, and as long as price stays below it – in the absence of any new and lower swing high – our bearish or downward bias remains intact.

However, we still need our Hourly charts – using Fibonacci retracement levels and important resistance levels – to seek promising areas to take our Short positions. Price pattern on the Hourly must also be forming lower highs and lower lows. Please note that our aim is to sell a rally in today’s down-trend.

Also, PATIENCE is the key here: we need to patiently wait for the Hourly retracement. It might happen, and it might not.

Today on EURUSD – Daily and H4 charts support Short trades, but…

2009-11-18T01:43:00.000-08:00

On the Daily chart above, on Wednesday last week, the bulls, seeking to make a new year-high, met fierce resistance less than 20 pips below the current year-high and, at that time, the most recent Daily swing high @ 1.5061 (which we’ve highlighted using the upper blue broken line). As a result, price reversed at 1.5047, formed a reversal candle – Doji (pointed out by the right green arrow), moved further downward, and eventually resulted in the formation of the most recent Daily swing high @ the 1.5047 level. This price action created a potential “double top” formation – the “first top” (pointed out by the left green arrow) being the year-high @ 1.5061, and the “second top” (pointed out by the right green arrow) being the most recent Daily swing high @ 1.5047. A Double Top in a strong bullish trend signifies a possible, major bearish move.
Although, the potential Double Top, by itself, isn’t strong enough to nullify the longer term bullish bias (as further bearish actions are still necessary), from a day-trade perspective, it supports a day-trade bearish bias, which was “instigated” by a recent price action: before the close of yesterday’s candle, price breached the most recent Daily swing low @ 1.4820 (which we’ve highlighted using the lower blue broken line) – a good sign that the bears want to push further downward. However, though, from a day-trade perspective, our bias is bearish, we would like price to break below previous day’s low @ 1.4807 (not highlighted). Price is currently a considerable distance away from breaking this 1.4807 support, hence, we might have to exercise patience throughout today on this pair.

On the H4 chart above, earlier, price broke a recent swing low @ 1.4879 (which we’ve highlighted using the upper blue broken line) downward. That automatically shifted our bias in favor of a downward price move. However, in relation to our bearish bias, price is currently in a bullish retracement, and, consequently, as discussed on the Daily chart, it is a considerable distance away from breaking the earlier mentioned previous day’s low @ 1.4807 (that we’ve highlighted using the lower blue broken line), which is seen on the H4 chart as the most recent swing low. Again, in seeking Hourly Short trades, we might have to exercise patience, possibly throughout today, on this pair.
The white horizontal line @ 1.5015 highlights the most recent swing high, and as long as price stays below it – in the absence of any new and lower swing high – our bearish or downward bias remains intact.

Have an Extraordinary Life

2009-11-17T06:11:00.000-08:00

Personal Note: This short but very helpful article brings to the fore Liz’s years of experience in the area of personal finance as she explains the importance of focus and goals in achieving our desired financial “now” and future. I don’t have much to add: I believe the piece is succinct and very straight to the point.

By [http://ezinearticles.com/?expert=Liz_Koh]Liz Koh

If you feel as though you are living from payday to payday and not getting ahead, then its time to look at your Money Goals. Money is to be spent - either now or later. The trick is finding the right balance between the present and the future. If you spend all your money just living from day to day, you won't have anything more than an ordinary life. Putting money aside for later will let you do some extraordinary things that will make your life more meaningful. First you need to understand what the purpose of money is in your life - what are the extraordinary things that you want to be able to do in your life for which you need money? Your goals need to be things that excite you enough to do whatever it takes to achieve them. Money is not an end in itself, it is something that enables you to live the life that you want. So think about what the role of money is in your life. Here's a list to prompt you:

* Financial security

* A comfortable life for my family

* Fun and excitement

* Exploration of interesting new place

* Making a difference to the lives of others

* A pleasant living environment

* Development and practice of spirituality

There are many other things besides these that money can help you with, so think carefully about what money means to YOU. Next, try and make your goals more specific by giving them a time frame and an amount of money you need to achieve them. For example, if you want to be able to have interesting experiences, you might have a goal of traveling to Nepal in five years time at a cost of $10,000. Make a list of all your goals, and then choose the top 5 or so that you will try and achieve. If you choose too many goals, you may lose your focus and not achieve any of them. Your Money Goals should cover the short term and the long term. If you have a history of setting goals but not being disciplined enough to achieve them, or if you are in a difficult financial situation, start by setting one or two short term Money Goals that you can realistically achieve.

This might be something as simple as going out for a nice meal somewhere. For each goal, work out how much you will have to save each payday to achieve it. For example, to travel to Nepal in five years time at a cost of $10,000 you will need to save $2,000 a year for the next five years. If you are paid fortnightly, that's about $77 per pay ($2000 divided by 26). Now add up the total amount you need to save each payday for all your Money Goals. If the total you need to save for all your Money Goals is unrealistic, prioritize them or even start with just one goal that you want to achieve. You can achieve anything you want if you have enough motivation. Being clear about what money means to you and setting specific, achievable goals will allow you to live an extraordinary life rather than living from payday to payday.

Liz Koh is no ordinary financial planner. After a successful career in management spanning more than twenty years, Liz set up her own financial planning company - Moneymax - in 1999. Since then, her mission has been not only to help people manage their money and increase their wealth but also to help people enjoy their lives - to the max! Her list of clients continues to grow through word of mouth and she is a regular contributor to several top newspapers, magazines and websites. Liz is the author of the best selling book - Your Money Personality: Unlock the Secret to a Rich and Happy Life, Awa Press, 2008, available from http://www.awapress.com

For Liz's best tips for financial security, visit her website http://www.moneymaxcoach.com to receive your free 8-part eCourse on "8 Steps to Financial Freedom".

Article Source: http://EzineArticles.com/?expert=Liz_Koh http://EzineArticles.com/?Have-an-Extraordinary-Life&id=3227705

Today on GBPUSD – Final days for the bears?

2009-11-17T00:40:00.000-08:00

On the Daily chart above, since early this month, price actions have been showing grave signs that the end of longer term bears’ reign is imminent. Early last week, the bears attempted to start regaining lost ground, however, recent price actions showed their efforts were futile: On Monday, last week, price broke above, at that time, the very critical resistance level @ 1.6741 (which we've highlighted using the lowest blue broken line), but couldn’t stay above the level as it met heavy resistance pressure. The bulls, however, showed their resolve as they resumed the upward push by the end of last week. Currently, price has decisively closed above the 1.6741 level, and has also breached the most recent Daily swing high @ 1.6842 (which we've highlighted using the middle blue broken line). Price pattern is now beginning to show a more visible higher-high-higher-low formation. These price actions, combined with some fundamental reports including the Federal Reserve Chairman’s speech yesterday, are strong signs supporting the bulls.
However, after all’s said and done, as emphasized last week, there remains the last barrier that price must break above to completely nullify our overall bearish bias: the 1.7041 resistance level (which we've highlighted using the uppermost blue broken line) where we have the “head” of, at the moment, the very weak Head & Shoulders formation, the year-high, as well as the most recent Monthly chart swing high. While, from a day-trade perspective, our bias is currently bullish, let’s bear in mind that we’re still relatively within the bears’ zone.
Please NOTE that it would be preferable to see price break above the previous day’s high @ 1.6877 (not highlighted) before seeking any Long trade setup today.

On the H4 chart above, price has broken the previous most recent swing high @ 1.6799 (which we've highlighted using the lower blue broken line) upward. That shifts our bias in favor of an upward price move. The previous day’s high @ 1.6877 (that we've highlighted using the upper blue broken line), which we discussed on the Daily chart, is seen on the H4 chart as the most recent swing high. Again, before we seek Hourly Long trade setups, we would prefer to see this level broken.
The green horizontal line @ 1.6668 highlights the most recent swing low, and as long as price stays above it - in the absence of any new and higher swing low - our bullish or upward bias remains intact.

However, we still need our Hourly charts - using Fibonacci retracement levels and important support levels - to seek promising areas to take our Long positions. Price pattern on the Hourly must also be forming higher highs and higher lows. Please note that our aim is to buy a dip in today's up-trend.

Also, PATIENCE is the key here: we need to patiently wait for the Hourly retracement. It might happen, and it might not.

Today on USDJPY – Daily and H4 charts support Short trades, but…

2009-11-15T23:52:00.000-08:00

On the Daily chart above, we would notice that the longer term bearish trend is pretty much obvious, and it’s even more noticeable on the Weekly and Monthly charts. Satisfyingly, from a day trade perspective, our bias is leaning toward the longer term trend: price pattern has been forming lower highs. However, the lower lows haven’t been as distinct as the bears seem to be struggling to break decisively below the support area around the most recent Daily swing low @ 89.29 (which we’ve highlighted using the blue broken line). Price action between the minor downward or bearish trend-line (the red dashed line) and the 89.29 level seems to be forming a “descending triangle” formation. A descending triangle formation gives us an idea that traders are currently indecisive whether to push further downward or not. As a result, though our bias, from a day-trade perspective, is bearish, we would like to see price break below (or, preferably, close below) the 89.29 level to be further convinced of the bears’ strength.

On the H4 chart above, late last week, price broke below the most recent swing low @ 89.63 (which we’ve highlighted using the upper blue broken line). That automatically shifted our bias in favor of a downward price move. However, to buttress our observation on the Daily chart, we would notice price is struggling to close decisively below the most recent swing low: after the initial breach of the 89.63 level, subsequent candles’ opens and closes are seen to be “clinging” to the level.
The 89.29 level (which we’ve highlighted using the lower blue broken line) – as well as the bearish trend-line – discussed on the Daily chart is also seen on the H4 chart, and it gives us a clearer view of price’s proximity to the level. Again, though our bias, from a day-trade perspective, is bearish, we would like to see price break below this 89.29 level to be further convinced of the bears’ strength.
The white horizontal line @ 90.60 highlights the most recent swing high, and as long as price stays below it – in the absence of any new and lower swing high – our bearish or downward bias remains intact.

However, once the coast is clear, we’ll still need our Hourly charts – using Fibonacci retracement levels and important resistance levels – to seek promising areas to take our Short positions. Price pattern on the Hourly must also be forming lower highs and lower lows. Please note that our aim is to sell a rally in today’s down-trend.

Also, PATIENCE is the key here: we need to patiently wait for the Hourly retracement. It might happen, and it might not.

Lessons About Financial Freedom I Learned From Playing Robert Kiyosaki's Cashflow 101

2009-11-13T05:34:00.000-08:00

Personal Note: Here in this article, Fairus, from his personal experience, takes us through the “enlightening world” of the Rich Dad Cashflow 101 game. I always wonder how I’m yet to play this great game. Testimonies about how the game (including other Robert Kiyosaki’s and Rich Dad’s materials) has changed lives, in terms of personal finance, are almost innumerable. I believe it’s a board game that’s very necessary in every home.

By [http://ezinearticles.com/?expert=Fairus_Farok]Fairus Farok

Everyone aims to achieve financial freedom. Whether you're a student starting out in your first job, or a person set on retiring from work life, that is a constant aspiration which everyone aims towards achieving. The need to be free from financial worries has been one of things in current contemporary times that is very much like the personal holy grail of the everyday man.

Unfortunately, the recent financial crisis has shattered some dreams of people who plan to retire and be financially free. At the same time what we see here is also the jarring fact that a lot of people around the world are financially illiterate, and constantly buying into schemes promising safe returns, yet not seeing this fulfilled. Hence, in this uncertain times, having some measure of financial intelligence would allow us to survive these daunting times. Some of these lessons are things I've learned from the game Cashflow 101, and these are things I wish to share here.

1) Invest not for capital gains, but largely to increase cashflow.

One of the first things I've realised when playing cash flow is that, the only way you can get out of the purported Rat Race is that you must invest for cashflow and not always for capital gains. the term Cashflow is self explanatory to everyone. Capital Gains basically means the profit you'll earn when the price of a property or security will increase. Sure you may need to invest in capital gains opportunities to generate cash for your other more lucrative investments, but never forget that increasing your amount of passive income or cashflow is the ultimate goal in getting out of the rat race.

2) Know how to use debt effectively.

In the game and in his books, Robert Kiyosaki talks about how you need to learn how to use debt in a good way and avoid using it in a bad way. This is pretty evident in the game. The basic premise of debt is that you can apply for a debt to buy whatever properties, but only if the debt allows you to purchase something that would increase your positive net cash flow. For example, if your cashflow from a rental property is $250 and you're only required to take a bank loan which needs you to make monthly payments of $200, that effectively means that you add a net cashflow of $50 per month. That's good debt right there. Of course, a bad use of debt will result in you decreasing your cashflow instead of increasing it.

3) Cut down your expenses

Anything that increases your cashflow will help, and this is one of the ways you can increase it. By paying off your expenses as much as possible like any personal debt and personal mortgages, your reduced expenses will contribute to increased cashflow. Plain logic.

4) Keep Learning!!! (Most Important Lesson)

This one takes the cake. You need to keep learning and expanding your financial knowledge and literacy. Take lessons about investment. Read widely. Learn how to invest and how you can read world financial trends. Never stop learning. The common analogy used here is, "You'll only become a safe driver, but only if you're willing to take the lessons and follow through on those lessons." The same also applies to financial literacy and learning.

Hence, those are just some of the insights I would like to share with you when playing the game Cashflow. I think this game will benefit anyone willing to take the time to play it consistently. It does not matter if you win or lose. Just play to learn, and of course, continue to learn some more about the financial world around us by reading books and joining seminars or webinars. Do go to the Rich Dad website if you want to learn more as they have some fantastic resources there.

Fairus Farok is an avid photographer, a part time tutor and also a fitness buff. Currently studying at the National University of Singapore. He is now delving into other income opportunities such as investment and affiliate marketing. Visit his website at [http://www.fairusfarok.com]FairusFarok.com

Article Source: http://EzineArticles.com/?expert=Fairus_Farok http://EzineArticles.com/?Lessons-About-Financial-Freedom-I-Learned-From-Playing-Robert-Kiyosakis-Cashflow-101&id=3186484

Today on EURUSD – Daily and H4 charts support Short trades.

2009-11-13T00:23:00.000-08:00

On the Daily chart above, yesterday, as we anticipated, price continued its downward move and ended as a strong bearish candle. We expect further bearish movement today; however, we would like to see price break below the previous day’s low @ 1.4820 (not highlighted) to be more convinced of the bears’ resolve. If the bears succeed in breaching the 1.4820 level, then, we would still have the lower edge of the bullish channel as the next critical support area, which is currently more than 100 pips away from current price position; hence, from a day trade perspective, we seem to still have enough room to seek further Short trade setups on the Hourly chart.

On the H4 chart above, also yesterday, price broke a recent swing low @ 1.4952 (which we’ve highlighted using the upper blue broken line) downward. That automatically shifted our bias in favor of a downward price move. However, as we discussed earlier on the Daily chart, the previous day’s low @ 1.4820, which is seen on the H4 chart as the most recent swing low (highlighted with the lower blue broken line), is a support level we would like to see price break below before we seek Hourly setups.
The white horizontal line @ 1.5047 highlights the most recent swing high, and as long as price stays below it – in the absence of any new and lower swing high – our bearish or downward bias remains intact.

However, we still need our Hourly charts – using Fibonacci retracement levels and important resistance levels – to seek promising areas to take our Short positions. Price pattern on the Hourly must also be forming lower highs and lower lows. Please note that our aim is to sell a rally in today’s down-trend.

Also, PATIENCE is the key here: we need to patiently wait for the Hourly retracement. It might happen, and it might not.

Today on EURUSD – Daily and H4 charts support Short trades.

2009-11-12T06:27:00.000-08:00

Please NOTE that this analysis is rather late; hence, it’s best suitable for late London Session and New York Session traders.

On the Daily chart above, yesterday, further price-move upward was rejected within the “bears’ zone” (that we been discussing since Tuesday, this week); precisely 14 pips away from the critical resistance level – the year-high, as well as the most recent Daily swing high @ 1.5061 (which we've highlighted using the upper blue broken line). As a result, price ended with a reversal candle formation (a hammer) – a relatively strong indication that the 1.5061 would be holding and the bears would be taking over, at least temporarily.
Earlier today, price action further confirmed the strength of the “bears’ zone” as price broke below the previous day’s low @ 1.4952 (not highlighted). For now, from a day trade perspective, our bias has turned bearish. The next critical support area is the lower edge of the upward or bullish channel, which is roughly 200 pips away from current price position; hence we seem to have enough room to seek Short trades on this currency pair.

On the H4 chart above, price has broken the most recent swing low @ 1.4952 (which we’ve highlighted using the blue broken line) downward. That automatically shifts our bias in favor of a downward price move. The white horizontal line @ 1.5047 highlights the most recent swing high, and as long as price stays below it – in the absence of any new and lower swing high – our bearish or downward bias remains intact.

However, we still need our Hourly charts – using Fibonacci retracement levels and important resistance levels – to seek promising areas to take our Short positions. Price pattern on the Hourly must also be forming lower highs and lower lows. Please note that our aim is to sell a rally in today’s down-trend.

Also, PATIENCE is the key here: we need to patiently wait for the Hourly retracement. It might happen, and it might not.

Today on EURUSD – The bulls, probably, are now in the bears’ zone

2009-11-11T01:22:00.000-08:00

On the Daily chart above, yesterday, we concluded that the EURUSD currency pair has been trending upward for a number of days, which translated to a continuous bullish bias, but was in a situation where we would like to see further confirmation that the bulls were ready to push higher. We are still, more or less, of the same view: little price action has happened since yesterday, but nevertheless, early price action today is good enough to warrant further review.
Price has broken above the previous day’s high @ 1.5020 (not highlighted) – almost same as penultimate day’s high @ 1.5019. That signals the possibility of further bullish movement. However, as also discussed yesterday, the bulls’ advance is getting critically close to a critical resistance level – the year-high, as well as the most recent Daily swing high @ 1.5061 (that we've highlighted using the upper blue broken line) – which is now less than 40 pips away. While our bias is in favor of an upward price move, the coast isn’t too clear; hence, let’s be very cautious.

On the H4 chart above, price has broken the most recent swing high – also the previous day’s high @ 1.5020 (which we've highlighted using the lower blue broken line) upward. That sustains our bias in favor of an upward price move.
The very critical resistance level – the year-high @ 1.5061 (that we've highlighted using the upper blue broken line), which we’ve been discussing since yesterday, is highlighted on the H4 chart. Again, similar to yesterday, though our bias is in favor of an upward price move, the coast isn’t clear. We’ve got only about 40-pip gap between the just broken most recent swing high – the previous day’s high @ 1.5020 and the year-high @ 1.5061; therefore, even though price-break above the 1.5020 level strengthens our bullish bias, price is now gravely close to the yeah-high level – an area that could easily be considered as the bears’ zone. It’s probably better to stay away from this pair for now till the coast is clearer.
However, let’s keep in mind that the green horizontal line @ 1.4937 highlights the most recent swing low, and as long as price stays above it - in the absence of any new and higher swing low - our bullish or upward bias remains intact.

Today on EURUSD – Daily and H4 charts support Long trades, but…

2009-11-10T03:09:00.000-08:00

On the Daily chart above, we would observe the EURUSD currency pair has been trending upward for a number of days now. From a day-trade perspective, that’s a clear sign that our bias should remain bullish. However, price is currently in a situation where we would like to see further confirmation that the bulls are ready to push higher: price is yet to breach the previous day’s high @ 1.5019 (not highlighted). In addition, the bulls’ advance is getting very close to a critical resistance level – the year-high as well as the most recent Daily swing high @ 1.5061 (that we've highlighted using the upper blue broken line) – which is less than a hundred pips away. While our bias is in favor of an upward price move, the coast isn’t too clear; hence, let’s be very cautious in case we decide to seek Long trade setups.

On the H4 chart above, price has broken a recent swing high @ 1.4917 (which we've highlighted using the lowest blue broken line) upward. That sustains our bias in favor of an upward price move.
The previous day’s high @ 1.5019 (that we've highlighted using the middle blue broken line), which we discussed earlier on the daily chart as a resistance level we would like to see price break above, is seen on the H4 chart as the most recent swing high. The very critical resistance level – the year-high @ 1.5061 (that we've highlighted using the uppermost blue broken line), which is also discussed on the Daily chart, is highlighted.
Again, though our bias is in favor of an upward price move, the coast isn’t too clear. We’ve got only about 40-pip gap between the previous day’s high @ 1.5019 and the year-high @ 1.5061; therefore, even if price eventually strengthens our bullish bias by breaking above the previous day’s high, by that time, price would’ve moved much closer to the yeah-high level – an area that could easily be considered as the bears’ zone.
It’s probably better to stay away from this pair for now; but, as earlier said, in case we decide to seek Hourly Long trade setups, let’s be very cautious.

Today on GBPUSD – The bears seem to be surrendering.

2009-11-09T05:26:00.000-08:00

On the Daily chart above, things aren’t looking good in any way for the bears. In August, this year, based on higher time frame charts (Monthly and Weekly charts), the bears gave a strong signal that they were taking over from the bulls, however, recent price actions are giving grave signs that the bears might have to remain “subservient” for a longer period. Virtually throughout last month, October, we were discussing the critical resistance level @ 1.6741 (which we've highlighted using the lower blue broken line) where we have both right and left shoulders of the Head & Shoulders formation. We concluded that price break above the 1.6741 level would signal a strong possibility of bulls pushing farther. Earlier today, this 1.6741 level was breached; hence our longer term bearish bias is floundering.
However, there remains the last barrier that price must break above to completely nullify our overall bearish bias: the 1.7041 resistance level (which we've highlighted using the upper blue broken line) where we have the “head” of the Head & Shoulders formation, as well as the most recent Monthly chart swing high. Price is still a couple of hundred pips away from this critical resistance level; hence, in all, from a day-trade perspective, our bias is bullish.

On the H4 chart above, price has broken the most recent swing high @ 1.6634 (which we've highlighted using the blue broken line) upward. That sustains our bias in favor of an upward price move.
The green horizontal line @ 1.6516 highlights the most recent swing low, and as long as price stays above it - in the absence of any new and higher swing low - our bullish or upward bias remains intact.

However, we still need our Hourly charts - using Fibonacci retracement levels and important support levels - to seek promising areas to take our Long positions. Price pattern on the Hourly must also be forming higher highs and higher lows. Please note that our aim is to buy a dip in today's up-trend.

Also, PATIENCE is the key here: we need to patiently wait for the Hourly retracement. It might happen, and it might not.

Heal Your Money - Step One

2009-11-07T10:25:00.000-08:00

Personal Note: One of the great insights Donna gave in this article relates to what I would describe as one-step-at-a-time approach toward success in our personal finances. Often, we love our plans to be thoroughly thought-out from beginning to end before attempting to take the first step in achieving our desired goals. However, such opportunities rarely occur; and as a result, desired goals are usually attained by individuals who are ready to travel the road in an informed manner, but also with certain degree of uncertainty – believing that with every successive step, comes further illumination.

By [http://ezinearticles.com/?expert=Donna_Higton]Donna Higton

Many of us have issues with money, many of us have limited education and knowledge when it comes to managing money, and many of us have no clue how to move forward into a life of financial ease. One of the contexts I live by is the idea that we already have all that we need within us to find the answers we need.

As a coach, I help clients access that inner wisdom, gain confidence in themselves and share some development resources I know have helped others that might assist them. Even without the assistance of a coach, you can access your own wisdom, gain confidence and find resources that will assist you. (this article, for example!) Ultimately though, it is you that will do the work, it is you that will find your own answers, and it is you that you will turn to.

I hope you already have faith in your own wisdom and ability to find what you need to get what you want. Even if you don't, know that you do have wisdom, you do have ability, and you are absolutely capable of changing your financial health for the better. So, the first step towards healing your money:

Ask yourself this question: What do you know you need to do to heal your money? And what can you do TODAY to take ONE step in the direction of what you know you need to do?

We often blame fear, procrastination, self-sabotage, laziness or some other negative trait for not doing what we know to do...but more often in my experience it is simple lack of knowledge that stops us moving forward. If you know the very first step you need to take - be it paying a bill, setting up a direct debit, balancing an account, or just finding out what you need to know - you can do it. So do it. :-D

Often we miss this vital step - because we don't know what we need to do overall to fix our financial situation, we fail to act on what we already know. The irony being that if you do what you already know to do, you will gain some forward momentum. If you do a few things that you know to do, you will gain even more forward momentum.

And when you have done what you know you need to know, most of the time another action presents itself to you as an idea, so you can keep moving forward with increasing momentum...and before you know it, your life has changed. This one is the one question to remember - because you are the one who knows what's going on in your financial world. If you do nothing else, at least remember to ask yourself this question often and essentially, ACT on the answer to the question...and that alone will help you heal your money.

Donna Higton is a Life Coach who has been working with people on all aspects of joyful living since 2002. She quickly noticed that when it came to money, the same issues came up time and again...and most of them were pretty easy to fix! She decided to pool all these solutions, fixes and ideas into an eBook "110 Ways to Heal Your Money". To find our more about this eBook, go to [http://www.donnaonthebeach.com/blog/index.php/ebooks/110-steps-to-heal-your-money]http://www.donnaonthebeach.com/blog/index.php/ebooks/110-steps-to-heal-your-money.

And to find more articles, blog posts, and fun stuff from Donna, check out her website at [http://www.donnaonthebeach.com]http://www.donnaonthebeach.com.

Article Source: http://EzineArticles.com/?expert=Donna_Higton http://EzineArticles.com/?Heal-Your-Money---Step-One&id=3200257

Today on USDJPY – NFP Rules.

2009-11-06T02:13:00.000-08:00

Pls NOTE: Again, if there’s one particular day in every month that trending method/pattern traders should be wary of trading most, it has to be the first Fridays of every month when the Non-Farm Payroll (NFP) report is usually released.
While I’ll go ahead to give my personal analysis on the USDJPY pair, please, let’s bear in mind that, regardless of any technical analyses, NFP usually rules today.

On the Daily chart above, as discussed yesterday, since the beginning of November, the USDJPY currency pair (as well as other major pairs) has been consolidating. Price is still within the symmetrical triangle we identified. Again, while our bias is still in favor of a downtrend, we still hold on to the opinion that we would like to see price break below certain support levels to convince us of the bears readiness to resume their activities: the first of the support levels is the lower edge of the symmetrical triangle, and the second is the most recent Daily swing low @ 89.43 (which we've highlighted using the blue broken line). As concluded earlier, our bias remains bearish, but, currently, the coast isn’t just clear enough for us to seek Short trade set-ups.

On the H4 chart above, price action – much more than yesterday’s – is buttressing our view that the pair is currently in an indecisive mode. In addition to the symmetrical triangle identified on the Daily chart, we could identify a similar formation on the H4 chart. Furthermore, price is stuck between the most recent swing high @ 91.30 (which we've highlighted using the white horizontal line) and the most recent swing low @ 89.98 (which we’ve highlighted using the blue broken line). These price actions are simply telling us to stay away from this pair for now.
Personally, this is a very good example of how technical and fundamental analyses can complement each other. For today, the coast isn’t just clear enough for us (as trend traders) to seek any trade set-ups – at least from a day-trade perspective.